UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-08895
Voya Funds Trust
(Exact name of registrant as specified in charter)
| 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ | 85258 |
| (Address of principal executive offices) | (Zip code) |
The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801
(Name and address of agent for service)
Registrant’s telephone number, including area code: 1-800-992-0180
Date of fiscal year end: March 31
Date of reporting period: April 1, 2024 to September 30, 2024
Item 1. Reports to Stockholders.
(a) The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):
This semi-annual shareholder report contains important information about Voya Floating Rate Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $48 | 0.94% |
Fund Statistics
- Total Net Assets$215,284,613
- # of Portfolio Holdings390
- Portfolio Turnover Rate49%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Focus Financial Partners LLC, 08/08/31 | 0.9% |
| Acrisure LLC, 8.211%, 11/06/30 | 0.7% |
| Broadstreet Partners Inc, 8.095%, 06/16/31 | 0.7% |
| Sedgwick Claims Management Services Inc, 8.250%, 07/31/31 | 0.7% |
| Peraton Corp, 8.953%, 02/01/28 | 0.7% |
| AssuredPartners Inc., 8.345%, 02/14/31 | 0.6% |
| UKG Inc, 8.555%, 02/10/31 | 0.6% |
| Great Outdoors Group LLC, 9.110%, 03/06/28 | 0.6% |
| Medline Borrower LP, 7.595%, 10/23/28 | 0.6% |
| AthenaHealth Group Inc, 8.497%, 02/15/29 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (3.2)% |
| Preferred Stock | 0.0% |
| Common Stock | 0.1% |
| Corporate Bonds/Notes | 6.7% |
| Loans | 96.4% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Floating Rate Fund
Class A: IFRAX
92913L791-SAR
This semi-annual shareholder report contains important information about Voya Floating Rate Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $86 | 1.69% |
Fund Statistics
- Total Net Assets$215,284,613
- # of Portfolio Holdings390
- Portfolio Turnover Rate49%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Focus Financial Partners LLC, 08/08/31 | 0.9% |
| Acrisure LLC, 8.211%, 11/06/30 | 0.7% |
| Broadstreet Partners Inc, 8.095%, 06/16/31 | 0.7% |
| Sedgwick Claims Management Services Inc, 8.250%, 07/31/31 | 0.7% |
| Peraton Corp, 8.953%, 02/01/28 | 0.7% |
| AssuredPartners Inc., 8.345%, 02/14/31 | 0.6% |
| UKG Inc, 8.555%, 02/10/31 | 0.6% |
| Great Outdoors Group LLC, 9.110%, 03/06/28 | 0.6% |
| Medline Borrower LP, 7.595%, 10/23/28 | 0.6% |
| AthenaHealth Group Inc, 8.497%, 02/15/29 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (3.2)% |
| Preferred Stock | 0.0% |
| Common Stock | 0.1% |
| Corporate Bonds/Notes | 6.7% |
| Loans | 96.4% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Floating Rate Fund
Class C: IFRCX
92913L817-SAR
This semi-annual shareholder report contains important information about Voya Floating Rate Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $35 | 0.69% |
Fund Statistics
- Total Net Assets$215,284,613
- # of Portfolio Holdings390
- Portfolio Turnover Rate49%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Focus Financial Partners LLC, 08/08/31 | 0.9% |
| Acrisure LLC, 8.211%, 11/06/30 | 0.7% |
| Broadstreet Partners Inc, 8.095%, 06/16/31 | 0.7% |
| Sedgwick Claims Management Services Inc, 8.250%, 07/31/31 | 0.7% |
| Peraton Corp, 8.953%, 02/01/28 | 0.7% |
| AssuredPartners Inc., 8.345%, 02/14/31 | 0.6% |
| UKG Inc, 8.555%, 02/10/31 | 0.6% |
| Great Outdoors Group LLC, 9.110%, 03/06/28 | 0.6% |
| Medline Borrower LP, 7.595%, 10/23/28 | 0.6% |
| AthenaHealth Group Inc, 8.497%, 02/15/29 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (3.2)% |
| Preferred Stock | 0.0% |
| Common Stock | 0.1% |
| Corporate Bonds/Notes | 6.7% |
| Loans | 96.4% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Floating Rate Fund
Class I: IFRIX
92913L825-SAR
This semi-annual shareholder report contains important information about Voya Floating Rate Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R | $61 | 1.19% |
Fund Statistics
- Total Net Assets$215,284,613
- # of Portfolio Holdings390
- Portfolio Turnover Rate49%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Focus Financial Partners LLC, 08/08/31 | 0.9% |
| Acrisure LLC, 8.211%, 11/06/30 | 0.7% |
| Broadstreet Partners Inc, 8.095%, 06/16/31 | 0.7% |
| Sedgwick Claims Management Services Inc, 8.250%, 07/31/31 | 0.7% |
| Peraton Corp, 8.953%, 02/01/28 | 0.7% |
| AssuredPartners Inc., 8.345%, 02/14/31 | 0.6% |
| UKG Inc, 8.555%, 02/10/31 | 0.6% |
| Great Outdoors Group LLC, 9.110%, 03/06/28 | 0.6% |
| Medline Borrower LP, 7.595%, 10/23/28 | 0.6% |
| AthenaHealth Group Inc, 8.497%, 02/15/29 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (3.2)% |
| Preferred Stock | 0.0% |
| Common Stock | 0.1% |
| Corporate Bonds/Notes | 6.7% |
| Loans | 96.4% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Floating Rate Fund
Class R: IFRRX
92913L841-SAR
This semi-annual shareholder report contains important information about Voya Floating Rate Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class W | $35 | 0.69% |
Fund Statistics
- Total Net Assets$215,284,613
- # of Portfolio Holdings390
- Portfolio Turnover Rate49%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Focus Financial Partners LLC, 08/08/31 | 0.9% |
| Acrisure LLC, 8.211%, 11/06/30 | 0.7% |
| Broadstreet Partners Inc, 8.095%, 06/16/31 | 0.7% |
| Sedgwick Claims Management Services Inc, 8.250%, 07/31/31 | 0.7% |
| Peraton Corp, 8.953%, 02/01/28 | 0.7% |
| AssuredPartners Inc., 8.345%, 02/14/31 | 0.6% |
| UKG Inc, 8.555%, 02/10/31 | 0.6% |
| Great Outdoors Group LLC, 9.110%, 03/06/28 | 0.6% |
| Medline Borrower LP, 7.595%, 10/23/28 | 0.6% |
| AthenaHealth Group Inc, 8.497%, 02/15/29 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (3.2)% |
| Preferred Stock | 0.0% |
| Common Stock | 0.1% |
| Corporate Bonds/Notes | 6.7% |
| Loans | 96.4% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Floating Rate Fund
Class W: IFRWX
92913L833-SAR
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $43 | 0.84% |
Fund Statistics
- Total Net Assets$1,256,593,383
- # of Portfolio Holdings850
- Portfolio Turnover Rate238%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.500%, 10/20/54 | 8.6% |
| Ginnie Mae, 5.000%, 10/20/54 | 6.8% |
| Ginnie Mae, 3.500%, 10/20/54 | 5.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.9% |
| Ginnie Mae, 2.500%, 10/20/51 | 2.7% |
| Ginnie Mae, 4.500%, 10/20/54 | 2.4% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.1% |
| Ginnie Mae, 2.500%, 11/20/51 | 2.0% |
| Ginnie Mae, 2.500%, 09/20/51 | 1.9% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (26.9)% |
| Asset-Backed Securities | 0.1% |
| U.S. Treasury Obligations | 1.6% |
| Commercial Mortgage-Backed Securities | 3.4% |
| Collateralized Mortgage Obligations | 43.3% |
| U.S. Government Agency Obligations | 78.5% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya GNMA Income Fund
Class A: LEXNX
92913L692-SAR
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $82 | 1.59% |
Fund Statistics
- Total Net Assets$1,256,593,383
- # of Portfolio Holdings850
- Portfolio Turnover Rate238%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.500%, 10/20/54 | 8.6% |
| Ginnie Mae, 5.000%, 10/20/54 | 6.8% |
| Ginnie Mae, 3.500%, 10/20/54 | 5.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.9% |
| Ginnie Mae, 2.500%, 10/20/51 | 2.7% |
| Ginnie Mae, 4.500%, 10/20/54 | 2.4% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.1% |
| Ginnie Mae, 2.500%, 11/20/51 | 2.0% |
| Ginnie Mae, 2.500%, 09/20/51 | 1.9% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (26.9)% |
| Asset-Backed Securities | 0.1% |
| U.S. Treasury Obligations | 1.6% |
| Commercial Mortgage-Backed Securities | 3.4% |
| Collateralized Mortgage Obligations | 43.3% |
| U.S. Government Agency Obligations | 78.5% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya GNMA Income Fund
Class C: LEGNX
92913L726-SAR
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $28 | 0.54% |
Fund Statistics
- Total Net Assets$1,256,593,383
- # of Portfolio Holdings850
- Portfolio Turnover Rate238%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.500%, 10/20/54 | 8.6% |
| Ginnie Mae, 5.000%, 10/20/54 | 6.8% |
| Ginnie Mae, 3.500%, 10/20/54 | 5.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.9% |
| Ginnie Mae, 2.500%, 10/20/51 | 2.7% |
| Ginnie Mae, 4.500%, 10/20/54 | 2.4% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.1% |
| Ginnie Mae, 2.500%, 11/20/51 | 2.0% |
| Ginnie Mae, 2.500%, 09/20/51 | 1.9% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (26.9)% |
| Asset-Backed Securities | 0.1% |
| U.S. Treasury Obligations | 1.6% |
| Commercial Mortgage-Backed Securities | 3.4% |
| Collateralized Mortgage Obligations | 43.3% |
| U.S. Government Agency Obligations | 78.5% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya GNMA Income Fund
Class I: LEINX
92913L734-SAR
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R6 | $26 | 0.50% |
Fund Statistics
- Total Net Assets$1,256,593,383
- # of Portfolio Holdings850
- Portfolio Turnover Rate238%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.500%, 10/20/54 | 8.6% |
| Ginnie Mae, 5.000%, 10/20/54 | 6.8% |
| Ginnie Mae, 3.500%, 10/20/54 | 5.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.9% |
| Ginnie Mae, 2.500%, 10/20/51 | 2.7% |
| Ginnie Mae, 4.500%, 10/20/54 | 2.4% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.1% |
| Ginnie Mae, 2.500%, 11/20/51 | 2.0% |
| Ginnie Mae, 2.500%, 09/20/51 | 1.9% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (26.9)% |
| Asset-Backed Securities | 0.1% |
| U.S. Treasury Obligations | 1.6% |
| Commercial Mortgage-Backed Securities | 3.4% |
| Collateralized Mortgage Obligations | 43.3% |
| U.S. Government Agency Obligations | 78.5% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya GNMA Income Fund
Class R6: VGMBX
92913L577-SAR
This semi-annual shareholder report contains important information about Voya GNMA Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class W | $31 | 0.59% |
Fund Statistics
- Total Net Assets$1,256,593,383
- # of Portfolio Holdings850
- Portfolio Turnover Rate238%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.500%, 10/20/54 | 8.6% |
| Ginnie Mae, 5.000%, 10/20/54 | 6.8% |
| Ginnie Mae, 3.500%, 10/20/54 | 5.8% |
| Ginnie Mae, 2.000%, 03/20/52 | 3.9% |
| Ginnie Mae, 2.500%, 10/20/51 | 2.7% |
| Ginnie Mae, 4.500%, 10/20/54 | 2.4% |
| Ginnie Mae, 2.500%, 03/20/51 | 2.3% |
| Ginnie Mae, 2.000%, 12/20/50 | 2.1% |
| Ginnie Mae, 2.500%, 11/20/51 | 2.0% |
| Ginnie Mae, 2.500%, 09/20/51 | 1.9% |
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (26.9)% |
| Asset-Backed Securities | 0.1% |
| U.S. Treasury Obligations | 1.6% |
| Commercial Mortgage-Backed Securities | 3.4% |
| Collateralized Mortgage Obligations | 43.3% |
| U.S. Government Agency Obligations | 78.5% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya GNMA Income Fund
Class W: IGMWX
92913L767-SAR
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $18 | 0.35% |
Fund Statistics
- Total Net Assets$384,025,662
- # of Portfolio Holdings29
What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (4.6)% |
| Mutual Funds | 9.1% |
| U.S. Treasury Repurchase Agreements | 17.0% |
| U.S. Government Agency Debt | 37.6% |
| U.S. Treasury Debt | 40.9% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Government Money Market Fund
Class A: VYAXX
92913L379-SAR
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $68 | 1.35% |
Fund Statistics
- Total Net Assets$384,025,662
- # of Portfolio Holdings29
What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (4.6)% |
| Mutual Funds | 9.1% |
| U.S. Treasury Repurchase Agreements | 17.0% |
| U.S. Government Agency Debt | 37.6% |
| U.S. Treasury Debt | 40.9% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Government Money Market Fund
Class C: VYBXX
92913L361-SAR
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $18 | 0.35% |
Fund Statistics
- Total Net Assets$384,025,662
- # of Portfolio Holdings29
What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (4.6)% |
| Mutual Funds | 9.1% |
| U.S. Treasury Repurchase Agreements | 17.0% |
| U.S. Government Agency Debt | 37.6% |
| U.S. Treasury Debt | 40.9% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Government Money Market Fund
Class I: VYCXX
92913L353-SAR
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of June 11, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
Class R6Footnote Reference* | $11 | 0.35% |
| Footnote | Description |
Footnote* | Expenses are for the period from June 11, 2024, commencement of operations, to September 30, 2024. Expenses for the full reporting period would be higher. |
Fund Statistics
- Total Net Assets$384,025,662
- # of Portfolio Holdings29
What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (4.6)% |
| Mutual Funds | 9.1% |
| U.S. Treasury Repurchase Agreements | 17.0% |
| U.S. Government Agency Debt | 37.6% |
| U.S. Treasury Debt | 40.9% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Government Money Market Fund
Class R6: VYHXX
92913L213-SAR
This semi-annual shareholder report contains important information about Voya Government Money Market Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class W | $18 | 0.35% |
Fund Statistics
- Total Net Assets$384,025,662
- # of Portfolio Holdings29
What did the Fund invest in?
The table below reflects the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Investment Type Allocation
| Value | Value |
|---|---|
| Liabilities in Excess of Other Assets | (4.6)% |
| Mutual Funds | 9.1% |
| U.S. Treasury Repurchase Agreements | 17.0% |
| U.S. Government Agency Debt | 37.6% |
| U.S. Treasury Debt | 40.9% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Government Money Market Fund
Class W: VYGXX
92913L320-SAR
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $52 | 1.01% |
Fund Statistics
- Total Net Assets$420,795,566
- # of Portfolio Holdings370
- Portfolio Turnover Rate40%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| CSC Holdings LLC, 11.250%, 05/15/28 | 0.8% |
| Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 0.8% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.8% |
| HUB International Ltd, 8.255%, 06/20/30 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| Carvana Co., 12.000%, 12/01/28 | 0.6% |
| Viking Cruises Ltd., 5.875%, 09/15/27 | 0.6% |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/28 | 0.6% |
| CHS/Community Health Systems, Inc., 5.250%, 05/15/30 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 2.0% |
| Bank Loans | 3.8% |
| Corporate Bonds/Notes | 94.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya High Yield Bond Fund
Class A: IHYAX
92913L627-SAR
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $91 | 1.76% |
Fund Statistics
- Total Net Assets$420,795,566
- # of Portfolio Holdings370
- Portfolio Turnover Rate40%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| CSC Holdings LLC, 11.250%, 05/15/28 | 0.8% |
| Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 0.8% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.8% |
| HUB International Ltd, 8.255%, 06/20/30 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| Carvana Co., 12.000%, 12/01/28 | 0.6% |
| Viking Cruises Ltd., 5.875%, 09/15/27 | 0.6% |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/28 | 0.6% |
| CHS/Community Health Systems, Inc., 5.250%, 05/15/30 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 2.0% |
| Bank Loans | 3.8% |
| Corporate Bonds/Notes | 94.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya High Yield Bond Fund
Class C: IMYCX
92913L643-SAR
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $35 | 0.68% |
Fund Statistics
- Total Net Assets$420,795,566
- # of Portfolio Holdings370
- Portfolio Turnover Rate40%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| CSC Holdings LLC, 11.250%, 05/15/28 | 0.8% |
| Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 0.8% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.8% |
| HUB International Ltd, 8.255%, 06/20/30 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| Carvana Co., 12.000%, 12/01/28 | 0.6% |
| Viking Cruises Ltd., 5.875%, 09/15/27 | 0.6% |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/28 | 0.6% |
| CHS/Community Health Systems, Inc., 5.250%, 05/15/30 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 2.0% |
| Bank Loans | 3.8% |
| Corporate Bonds/Notes | 94.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya High Yield Bond Fund
Class I: IHYIX
92913L783-SAR
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R | $65 | 1.26% |
Fund Statistics
- Total Net Assets$420,795,566
- # of Portfolio Holdings370
- Portfolio Turnover Rate40%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| CSC Holdings LLC, 11.250%, 05/15/28 | 0.8% |
| Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 0.8% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.8% |
| HUB International Ltd, 8.255%, 06/20/30 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| Carvana Co., 12.000%, 12/01/28 | 0.6% |
| Viking Cruises Ltd., 5.875%, 09/15/27 | 0.6% |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/28 | 0.6% |
| CHS/Community Health Systems, Inc., 5.250%, 05/15/30 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 2.0% |
| Bank Loans | 3.8% |
| Corporate Bonds/Notes | 94.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya High Yield Bond Fund
Class R: IRSTX
92913L544-SAR
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R6 | $32 | 0.62% |
Fund Statistics
- Total Net Assets$420,795,566
- # of Portfolio Holdings370
- Portfolio Turnover Rate40%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| CSC Holdings LLC, 11.250%, 05/15/28 | 0.8% |
| Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 0.8% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.8% |
| HUB International Ltd, 8.255%, 06/20/30 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| Carvana Co., 12.000%, 12/01/28 | 0.6% |
| Viking Cruises Ltd., 5.875%, 09/15/27 | 0.6% |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/28 | 0.6% |
| CHS/Community Health Systems, Inc., 5.250%, 05/15/30 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 2.0% |
| Bank Loans | 3.8% |
| Corporate Bonds/Notes | 94.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya High Yield Bond Fund
Class R6: VHYRX
92913L528-SAR
This semi-annual shareholder report contains important information about Voya High Yield Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class W | $39 | 0.76% |
Fund Statistics
- Total Net Assets$420,795,566
- # of Portfolio Holdings370
- Portfolio Turnover Rate40%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| CSC Holdings LLC, 11.250%, 05/15/28 | 0.8% |
| Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 0.8% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.8% |
| HUB International Ltd, 8.255%, 06/20/30 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.7% |
| Carvana Co., 12.000%, 12/01/28 | 0.6% |
| Viking Cruises Ltd., 5.875%, 09/15/27 | 0.6% |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/28 | 0.6% |
| CHS/Community Health Systems, Inc., 5.250%, 05/15/30 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 2.0% |
| Bank Loans | 3.8% |
| Corporate Bonds/Notes | 94.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya High Yield Bond Fund
Class W: IHYWX
92913L866-SAR
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $36 | 0.70% |
Fund Statistics
- Total Net Assets$9,356,389,267
- # of Portfolio Holdings2,364
- Portfolio Turnover Rate77%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Bonds, 4.125%, 08/15/44 | 3.6% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.3% |
| United States Treasury Notes, 4.350%, 05/15/54 | 1.2% |
| United States Treasury Notes, 3.625%, 09/15/27 | 1.2% |
| Ginnie Mae, 4.500%, 07/20/53 | 1.0% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.7% |
| Uniform Mortgage-Backed Securities, 3.000%, 05/01/52 | 0.6% |
| Uniform Mortgage-Backed Securities, 2.000%, 05/01/51 | 0.6% |
| Uniform Mortgage-Backed Securities, 5.500%, 06/01/53 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 3.7% |
| Sovereign Bonds | 0.8% |
| U.S. Treasury Obligations | 8.8% |
| Commercial Mortgage-Backed Securities | 9.8% |
| Asset-Backed Securities | 11.9% |
| Collateralized Mortgage Obligations | 15.0% |
| U.S. Government Agency Obligations | 20.8% |
| Corporate Bonds/Notes | 29.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Intermediate Bond Fund
Class A: IIBAX
92913L650-SAR
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $74 | 1.45% |
Fund Statistics
- Total Net Assets$9,356,389,267
- # of Portfolio Holdings2,364
- Portfolio Turnover Rate77%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Bonds, 4.125%, 08/15/44 | 3.6% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.3% |
| United States Treasury Notes, 4.350%, 05/15/54 | 1.2% |
| United States Treasury Notes, 3.625%, 09/15/27 | 1.2% |
| Ginnie Mae, 4.500%, 07/20/53 | 1.0% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.7% |
| Uniform Mortgage-Backed Securities, 3.000%, 05/01/52 | 0.6% |
| Uniform Mortgage-Backed Securities, 2.000%, 05/01/51 | 0.6% |
| Uniform Mortgage-Backed Securities, 5.500%, 06/01/53 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 3.7% |
| Sovereign Bonds | 0.8% |
| U.S. Treasury Obligations | 8.8% |
| Commercial Mortgage-Backed Securities | 9.8% |
| Asset-Backed Securities | 11.9% |
| Collateralized Mortgage Obligations | 15.0% |
| U.S. Government Agency Obligations | 20.8% |
| Corporate Bonds/Notes | 29.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Intermediate Bond Fund
Class C: IICCX
92913L676-SAR
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $18 | 0.35% |
Fund Statistics
- Total Net Assets$9,356,389,267
- # of Portfolio Holdings2,364
- Portfolio Turnover Rate77%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Bonds, 4.125%, 08/15/44 | 3.6% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.3% |
| United States Treasury Notes, 4.350%, 05/15/54 | 1.2% |
| United States Treasury Notes, 3.625%, 09/15/27 | 1.2% |
| Ginnie Mae, 4.500%, 07/20/53 | 1.0% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.7% |
| Uniform Mortgage-Backed Securities, 3.000%, 05/01/52 | 0.6% |
| Uniform Mortgage-Backed Securities, 2.000%, 05/01/51 | 0.6% |
| Uniform Mortgage-Backed Securities, 5.500%, 06/01/53 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 3.7% |
| Sovereign Bonds | 0.8% |
| U.S. Treasury Obligations | 8.8% |
| Commercial Mortgage-Backed Securities | 9.8% |
| Asset-Backed Securities | 11.9% |
| Collateralized Mortgage Obligations | 15.0% |
| U.S. Government Agency Obligations | 20.8% |
| Corporate Bonds/Notes | 29.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Intermediate Bond Fund
Class I: IICIX
92913L684-SAR
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R | $49 | 0.95% |
Fund Statistics
- Total Net Assets$9,356,389,267
- # of Portfolio Holdings2,364
- Portfolio Turnover Rate77%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Bonds, 4.125%, 08/15/44 | 3.6% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.3% |
| United States Treasury Notes, 4.350%, 05/15/54 | 1.2% |
| United States Treasury Notes, 3.625%, 09/15/27 | 1.2% |
| Ginnie Mae, 4.500%, 07/20/53 | 1.0% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.7% |
| Uniform Mortgage-Backed Securities, 3.000%, 05/01/52 | 0.6% |
| Uniform Mortgage-Backed Securities, 2.000%, 05/01/51 | 0.6% |
| Uniform Mortgage-Backed Securities, 5.500%, 06/01/53 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 3.7% |
| Sovereign Bonds | 0.8% |
| U.S. Treasury Obligations | 8.8% |
| Commercial Mortgage-Backed Securities | 9.8% |
| Asset-Backed Securities | 11.9% |
| Collateralized Mortgage Obligations | 15.0% |
| U.S. Government Agency Obligations | 20.8% |
| Corporate Bonds/Notes | 29.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Intermediate Bond Fund
Class R: IIBOX
92913L742-SAR
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R6 | $16 | 0.30% |
Fund Statistics
- Total Net Assets$9,356,389,267
- # of Portfolio Holdings2,364
- Portfolio Turnover Rate77%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Bonds, 4.125%, 08/15/44 | 3.6% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.3% |
| United States Treasury Notes, 4.350%, 05/15/54 | 1.2% |
| United States Treasury Notes, 3.625%, 09/15/27 | 1.2% |
| Ginnie Mae, 4.500%, 07/20/53 | 1.0% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.7% |
| Uniform Mortgage-Backed Securities, 3.000%, 05/01/52 | 0.6% |
| Uniform Mortgage-Backed Securities, 2.000%, 05/01/51 | 0.6% |
| Uniform Mortgage-Backed Securities, 5.500%, 06/01/53 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 3.7% |
| Sovereign Bonds | 0.8% |
| U.S. Treasury Obligations | 8.8% |
| Commercial Mortgage-Backed Securities | 9.8% |
| Asset-Backed Securities | 11.9% |
| Collateralized Mortgage Obligations | 15.0% |
| U.S. Government Agency Obligations | 20.8% |
| Corporate Bonds/Notes | 29.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Intermediate Bond Fund
Class R6: IIBZX
92913L569-SAR
This semi-annual shareholder report contains important information about Voya Intermediate Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class W | $23 | 0.45% |
Fund Statistics
- Total Net Assets$9,356,389,267
- # of Portfolio Holdings2,364
- Portfolio Turnover Rate77%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Bonds, 4.125%, 08/15/44 | 3.6% |
| Uniform Mortgage-Backed Securities, 2.500%, 02/01/52 | 1.3% |
| United States Treasury Notes, 4.350%, 05/15/54 | 1.2% |
| United States Treasury Notes, 3.625%, 09/15/27 | 1.2% |
| Ginnie Mae, 4.500%, 07/20/53 | 1.0% |
| Uniform Mortgage-Backed Securities, 2.000%, 02/01/52 | 0.9% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.7% |
| Uniform Mortgage-Backed Securities, 3.000%, 05/01/52 | 0.6% |
| Uniform Mortgage-Backed Securities, 2.000%, 05/01/51 | 0.6% |
| Uniform Mortgage-Backed Securities, 5.500%, 06/01/53 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 3.7% |
| Sovereign Bonds | 0.8% |
| U.S. Treasury Obligations | 8.8% |
| Commercial Mortgage-Backed Securities | 9.8% |
| Asset-Backed Securities | 11.9% |
| Collateralized Mortgage Obligations | 15.0% |
| U.S. Government Agency Obligations | 20.8% |
| Corporate Bonds/Notes | 29.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Intermediate Bond Fund
Class W: IIBWX
92913L775-SAR
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $33 | 0.64% |
Fund Statistics
- Total Net Assets$619,038,142
- # of Portfolio Holdings640
- Portfolio Turnover Rate121%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Notes, 3.625%, 09/15/27 | 15.4% |
| United States Treasury Notes, 2.000%, 08/15/25 | 4.7% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.9% |
| Freddie Mac REMIC Trust - Class FA, 6.007%, 04/15/36 | 0.8% |
| Freddie Mac Strips - Class F43, 6.080%, 10/25/53 | 0.7% |
| DC Commercial Mortgage Trust - Class A, 6.314%, 09/12/40 | 0.7% |
| ILPT Commercial Mortgage Trust - Class A, 7.342%, 10/15/39 | 0.6% |
| BRSP Ltd. - Class B, 6.979%, 08/19/38 | 0.6% |
| Freddie Mac Strips - Class F44, 6.280%, 10/25/53 | 0.6% |
| OHA Credit Partners XIII Ltd. - Class A1R2, 6.459%, 10/21/37 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 7.1% |
| U.S. Government Agency Obligations | 0.0% |
| Collateralized Mortgage Obligations | 5.7% |
| Commercial Mortgage-Backed Securities | 9.1% |
| Asset-Backed Securities | 15.8% |
| U.S. Treasury Obligations | 21.3% |
| Corporate Bonds/Notes | 41.0% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration Bond Fund
Class A: IASBX
92913L502-SAR
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $71 | 1.39% |
Fund Statistics
- Total Net Assets$619,038,142
- # of Portfolio Holdings640
- Portfolio Turnover Rate121%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Notes, 3.625%, 09/15/27 | 15.4% |
| United States Treasury Notes, 2.000%, 08/15/25 | 4.7% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.9% |
| Freddie Mac REMIC Trust - Class FA, 6.007%, 04/15/36 | 0.8% |
| Freddie Mac Strips - Class F43, 6.080%, 10/25/53 | 0.7% |
| DC Commercial Mortgage Trust - Class A, 6.314%, 09/12/40 | 0.7% |
| ILPT Commercial Mortgage Trust - Class A, 7.342%, 10/15/39 | 0.6% |
| BRSP Ltd. - Class B, 6.979%, 08/19/38 | 0.6% |
| Freddie Mac Strips - Class F44, 6.280%, 10/25/53 | 0.6% |
| OHA Credit Partners XIII Ltd. - Class A1R2, 6.459%, 10/21/37 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 7.1% |
| U.S. Government Agency Obligations | 0.0% |
| Collateralized Mortgage Obligations | 5.7% |
| Commercial Mortgage-Backed Securities | 9.1% |
| Asset-Backed Securities | 15.8% |
| U.S. Treasury Obligations | 21.3% |
| Corporate Bonds/Notes | 41.0% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration Bond Fund
Class C: ICSBX
92913L403-SAR
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $18 | 0.35% |
Fund Statistics
- Total Net Assets$619,038,142
- # of Portfolio Holdings640
- Portfolio Turnover Rate121%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Notes, 3.625%, 09/15/27 | 15.4% |
| United States Treasury Notes, 2.000%, 08/15/25 | 4.7% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.9% |
| Freddie Mac REMIC Trust - Class FA, 6.007%, 04/15/36 | 0.8% |
| Freddie Mac Strips - Class F43, 6.080%, 10/25/53 | 0.7% |
| DC Commercial Mortgage Trust - Class A, 6.314%, 09/12/40 | 0.7% |
| ILPT Commercial Mortgage Trust - Class A, 7.342%, 10/15/39 | 0.6% |
| BRSP Ltd. - Class B, 6.979%, 08/19/38 | 0.6% |
| Freddie Mac Strips - Class F44, 6.280%, 10/25/53 | 0.6% |
| OHA Credit Partners XIII Ltd. - Class A1R2, 6.459%, 10/21/37 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 7.1% |
| U.S. Government Agency Obligations | 0.0% |
| Collateralized Mortgage Obligations | 5.7% |
| Commercial Mortgage-Backed Securities | 9.1% |
| Asset-Backed Securities | 15.8% |
| U.S. Treasury Obligations | 21.3% |
| Corporate Bonds/Notes | 41.0% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration Bond Fund
Class I: IISBX
92913L304-SAR
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R | $45 | 0.89% |
Fund Statistics
- Total Net Assets$619,038,142
- # of Portfolio Holdings640
- Portfolio Turnover Rate121%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Notes, 3.625%, 09/15/27 | 15.4% |
| United States Treasury Notes, 2.000%, 08/15/25 | 4.7% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.9% |
| Freddie Mac REMIC Trust - Class FA, 6.007%, 04/15/36 | 0.8% |
| Freddie Mac Strips - Class F43, 6.080%, 10/25/53 | 0.7% |
| DC Commercial Mortgage Trust - Class A, 6.314%, 09/12/40 | 0.7% |
| ILPT Commercial Mortgage Trust - Class A, 7.342%, 10/15/39 | 0.6% |
| BRSP Ltd. - Class B, 6.979%, 08/19/38 | 0.6% |
| Freddie Mac Strips - Class F44, 6.280%, 10/25/53 | 0.6% |
| OHA Credit Partners XIII Ltd. - Class A1R2, 6.459%, 10/21/37 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 7.1% |
| U.S. Government Agency Obligations | 0.0% |
| Collateralized Mortgage Obligations | 5.7% |
| Commercial Mortgage-Backed Securities | 9.1% |
| Asset-Backed Securities | 15.8% |
| U.S. Treasury Obligations | 21.3% |
| Corporate Bonds/Notes | 41.0% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration Bond Fund
Class R: VSTRX
92913L205-SAR
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R6 | $15 | 0.30% |
Fund Statistics
- Total Net Assets$619,038,142
- # of Portfolio Holdings640
- Portfolio Turnover Rate121%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Notes, 3.625%, 09/15/27 | 15.4% |
| United States Treasury Notes, 2.000%, 08/15/25 | 4.7% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.9% |
| Freddie Mac REMIC Trust - Class FA, 6.007%, 04/15/36 | 0.8% |
| Freddie Mac Strips - Class F43, 6.080%, 10/25/53 | 0.7% |
| DC Commercial Mortgage Trust - Class A, 6.314%, 09/12/40 | 0.7% |
| ILPT Commercial Mortgage Trust - Class A, 7.342%, 10/15/39 | 0.6% |
| BRSP Ltd. - Class B, 6.979%, 08/19/38 | 0.6% |
| Freddie Mac Strips - Class F44, 6.280%, 10/25/53 | 0.6% |
| OHA Credit Partners XIII Ltd. - Class A1R2, 6.459%, 10/21/37 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 7.1% |
| U.S. Government Agency Obligations | 0.0% |
| Collateralized Mortgage Obligations | 5.7% |
| Commercial Mortgage-Backed Securities | 9.1% |
| Asset-Backed Securities | 15.8% |
| U.S. Treasury Obligations | 21.3% |
| Corporate Bonds/Notes | 41.0% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration Bond Fund
Class R6: IGZAX
92913L551-SAR
This semi-annual shareholder report contains important information about Voya Short Duration Bond Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class W | $20 | 0.39% |
Fund Statistics
- Total Net Assets$619,038,142
- # of Portfolio Holdings640
- Portfolio Turnover Rate121%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| United States Treasury Notes, 3.625%, 09/15/27 | 15.4% |
| United States Treasury Notes, 2.000%, 08/15/25 | 4.7% |
| United States Treasury Notes, 3.500%, 09/30/26 | 0.9% |
| Freddie Mac REMIC Trust - Class FA, 6.007%, 04/15/36 | 0.8% |
| Freddie Mac Strips - Class F43, 6.080%, 10/25/53 | 0.7% |
| DC Commercial Mortgage Trust - Class A, 6.314%, 09/12/40 | 0.7% |
| ILPT Commercial Mortgage Trust - Class A, 7.342%, 10/15/39 | 0.6% |
| BRSP Ltd. - Class B, 6.979%, 08/19/38 | 0.6% |
| Freddie Mac Strips - Class F44, 6.280%, 10/25/53 | 0.6% |
| OHA Credit Partners XIII Ltd. - Class A1R2, 6.459%, 10/21/37 | 0.6% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 7.1% |
| U.S. Government Agency Obligations | 0.0% |
| Collateralized Mortgage Obligations | 5.7% |
| Commercial Mortgage-Backed Securities | 9.1% |
| Asset-Backed Securities | 15.8% |
| U.S. Treasury Obligations | 21.3% |
| Corporate Bonds/Notes | 41.0% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration Bond Fund
Class W: IWSBX
92913L106-SAR
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $43 | 0.83% |
Fund Statistics
- Total Net Assets$183,968,656
- # of Portfolio Holdings100
- Portfolio Turnover Rate39%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| VistaJet Malta Finance PLC / Vista Management Holding, Inc., 9.500%, 06/01/28 | 3.6% |
| Asurion, LLC, 8.840%, 01/20/29 | 3.5% |
| Uber Technologies, Inc., 8.000%, 11/01/26 | 3.0% |
| HAT Holdings I LLC / HAT Holdings II LLC, 8.000%, 06/15/27 | 2.7% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 8.375%, 01/15/29 | 2.6% |
| LD Holdings Group LLC, 6.125%, 04/01/28 | 2.6% |
| Consensus Cloud Solutions, Inc., 6.500%, 10/15/28 | 2.6% |
| Freedom Mortgage Holdings LLC, 9.250%, 02/01/29 | 2.4% |
| Global Aircraft Leasing Co. Ltd., 8.750%, 09/01/27 | 2.4% |
| Sunnova Energy Corp., 11.750%, 10/01/28 | 2.3% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 1.0% |
| Bank Loans | 10.2% |
| Corporate Bonds/Notes | 88.8% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration High Income Fund
Class A: VVJBX
92913L254-SAR
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $81 | 1.58% |
Fund Statistics
- Total Net Assets$183,968,656
- # of Portfolio Holdings100
- Portfolio Turnover Rate39%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| VistaJet Malta Finance PLC / Vista Management Holding, Inc., 9.500%, 06/01/28 | 3.6% |
| Asurion, LLC, 8.840%, 01/20/29 | 3.5% |
| Uber Technologies, Inc., 8.000%, 11/01/26 | 3.0% |
| HAT Holdings I LLC / HAT Holdings II LLC, 8.000%, 06/15/27 | 2.7% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 8.375%, 01/15/29 | 2.6% |
| LD Holdings Group LLC, 6.125%, 04/01/28 | 2.6% |
| Consensus Cloud Solutions, Inc., 6.500%, 10/15/28 | 2.6% |
| Freedom Mortgage Holdings LLC, 9.250%, 02/01/29 | 2.4% |
| Global Aircraft Leasing Co. Ltd., 8.750%, 09/01/27 | 2.4% |
| Sunnova Energy Corp., 11.750%, 10/01/28 | 2.3% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 1.0% |
| Bank Loans | 10.2% |
| Corporate Bonds/Notes | 88.8% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration High Income Fund
Class C: VVJGX
92913L221-SAR
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $31 | 0.60% |
Fund Statistics
- Total Net Assets$183,968,656
- # of Portfolio Holdings100
- Portfolio Turnover Rate39%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| VistaJet Malta Finance PLC / Vista Management Holding, Inc., 9.500%, 06/01/28 | 3.6% |
| Asurion, LLC, 8.840%, 01/20/29 | 3.5% |
| Uber Technologies, Inc., 8.000%, 11/01/26 | 3.0% |
| HAT Holdings I LLC / HAT Holdings II LLC, 8.000%, 06/15/27 | 2.7% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 8.375%, 01/15/29 | 2.6% |
| LD Holdings Group LLC, 6.125%, 04/01/28 | 2.6% |
| Consensus Cloud Solutions, Inc., 6.500%, 10/15/28 | 2.6% |
| Freedom Mortgage Holdings LLC, 9.250%, 02/01/29 | 2.4% |
| Global Aircraft Leasing Co. Ltd., 8.750%, 09/01/27 | 2.4% |
| Sunnova Energy Corp., 11.750%, 10/01/28 | 2.3% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 1.0% |
| Bank Loans | 10.2% |
| Corporate Bonds/Notes | 88.8% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration High Income Fund
Class I: VVJCX
92913L247-SAR
Voya Short Duration High Income Fund
Semi-Annual Shareholder Report
September 30, 2024
Class R6: VVJDX
This semi-annual shareholder report contains important information about Voya Short Duration High Income Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R6 | $30 | 0.57% |
Fund Statistics
- Total Net Assets$183,968,656
- # of Portfolio Holdings100
- Portfolio Turnover Rate39%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| VistaJet Malta Finance PLC / Vista Management Holding, Inc., 9.500%, 06/01/28 | 3.6% |
| Asurion, LLC, 8.840%, 01/20/29 | 3.5% |
| Uber Technologies, Inc., 8.000%, 11/01/26 | 3.0% |
| HAT Holdings I LLC / HAT Holdings II LLC, 8.000%, 06/15/27 | 2.7% |
| Global Auto Holdings Ltd./AAG FH UK Ltd., 8.375%, 01/15/29 | 2.6% |
| LD Holdings Group LLC, 6.125%, 04/01/28 | 2.6% |
| Consensus Cloud Solutions, Inc., 6.500%, 10/15/28 | 2.6% |
| Freedom Mortgage Holdings LLC, 9.250%, 02/01/29 | 2.4% |
| Global Aircraft Leasing Co. Ltd., 8.750%, 09/01/27 | 2.4% |
| Sunnova Energy Corp., 11.750%, 10/01/28 | 2.3% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 1.0% |
| Bank Loans | 10.2% |
| Corporate Bonds/Notes | 88.8% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Short Duration High Income Fund
Class R6: VVJDX
92913L239-SAR
Voya Strategic Income Opportunities Fund
Semi-Annual Shareholder Report
September 30, 2024
Class A: ISIAX
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class A | $44 | 0.86% |
Fund Statistics
- Total Net Assets$2,048,194,077
- # of Portfolio Holdings1,624
- Portfolio Turnover Rate163%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.000%, 10/20/54 | 1.3% |
| Uniform Mortgage-Backed Securities, 5.500%, 11/01/54 | 0.7% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.5% |
| United States Treasury Notes, 3.875%, 08/15/34 | 0.5% |
| GS Mortgage Securities Corp. Trust - Class B, 6.861%, 11/15/36 | 0.5% |
| Ginnie Mae - Class S, 1.770%, 04/20/53 | 0.5% |
| Uniform Mortgage-Backed Securities, 5.500%, 10/01/54 | 0.5% |
| Goldman Sachs Group, Inc., 5.727%, 04/25/30 | 0.4% |
| Wells Fargo & Co., 5.707%, 04/22/28 | 0.4% |
| Morgan Stanley, 5.652%, 04/13/28 | 0.4% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 9.6% |
| Common Stock | 0.0% |
| Preferred Stock | 0.0% |
| U.S. Treasury Obligations | 0.6% |
| Sovereign Bonds | 1.3% |
| U.S. Government Agency Obligations | 3.5% |
| Bank Loans | 7.0% |
| Asset-Backed Securities | 13.3% |
| Commercial Mortgage-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 20.2% |
| Collateralized Mortgage Obligations | 26.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Strategic Income Opportunities Fund
Class A: ISIAX
92913L700-SAR
Voya Strategic Income Opportunities Fund
Semi-Annual Shareholder Report
September 30, 2024
Class C: ISICX
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class C | $82 | 1.61% |
Fund Statistics
- Total Net Assets$2,048,194,077
- # of Portfolio Holdings1,624
- Portfolio Turnover Rate163%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.000%, 10/20/54 | 1.3% |
| Uniform Mortgage-Backed Securities, 5.500%, 11/01/54 | 0.7% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.5% |
| United States Treasury Notes, 3.875%, 08/15/34 | 0.5% |
| GS Mortgage Securities Corp. Trust - Class B, 6.861%, 11/15/36 | 0.5% |
| Ginnie Mae - Class S, 1.770%, 04/20/53 | 0.5% |
| Uniform Mortgage-Backed Securities, 5.500%, 10/01/54 | 0.5% |
| Goldman Sachs Group, Inc., 5.727%, 04/25/30 | 0.4% |
| Wells Fargo & Co., 5.707%, 04/22/28 | 0.4% |
| Morgan Stanley, 5.652%, 04/13/28 | 0.4% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 9.6% |
| Common Stock | 0.0% |
| Preferred Stock | 0.0% |
| U.S. Treasury Obligations | 0.6% |
| Sovereign Bonds | 1.3% |
| U.S. Government Agency Obligations | 3.5% |
| Bank Loans | 7.0% |
| Asset-Backed Securities | 13.3% |
| Commercial Mortgage-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 20.2% |
| Collateralized Mortgage Obligations | 26.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Strategic Income Opportunities Fund
Class C: ISICX
92913L601-SAR
Voya Strategic Income Opportunities Fund
Semi-Annual Shareholder Report
September 30, 2024
Class I: IISIX
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class I | $32 | 0.63% |
Fund Statistics
- Total Net Assets$2,048,194,077
- # of Portfolio Holdings1,624
- Portfolio Turnover Rate163%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.000%, 10/20/54 | 1.3% |
| Uniform Mortgage-Backed Securities, 5.500%, 11/01/54 | 0.7% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.5% |
| United States Treasury Notes, 3.875%, 08/15/34 | 0.5% |
| GS Mortgage Securities Corp. Trust - Class B, 6.861%, 11/15/36 | 0.5% |
| Ginnie Mae - Class S, 1.770%, 04/20/53 | 0.5% |
| Uniform Mortgage-Backed Securities, 5.500%, 10/01/54 | 0.5% |
| Goldman Sachs Group, Inc., 5.727%, 04/25/30 | 0.4% |
| Wells Fargo & Co., 5.707%, 04/22/28 | 0.4% |
| Morgan Stanley, 5.652%, 04/13/28 | 0.4% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 9.6% |
| Common Stock | 0.0% |
| Preferred Stock | 0.0% |
| U.S. Treasury Obligations | 0.6% |
| Sovereign Bonds | 1.3% |
| U.S. Government Agency Obligations | 3.5% |
| Bank Loans | 7.0% |
| Asset-Backed Securities | 13.3% |
| Commercial Mortgage-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 20.2% |
| Collateralized Mortgage Obligations | 26.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Strategic Income Opportunities Fund
Class I: IISIX
92913L874-SAR
Voya Strategic Income Opportunities Fund
Semi-Annual Shareholder Report
September 30, 2024
Class R: ISIRX
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R | $57 | 1.11% |
Fund Statistics
- Total Net Assets$2,048,194,077
- # of Portfolio Holdings1,624
- Portfolio Turnover Rate163%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.000%, 10/20/54 | 1.3% |
| Uniform Mortgage-Backed Securities, 5.500%, 11/01/54 | 0.7% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.5% |
| United States Treasury Notes, 3.875%, 08/15/34 | 0.5% |
| GS Mortgage Securities Corp. Trust - Class B, 6.861%, 11/15/36 | 0.5% |
| Ginnie Mae - Class S, 1.770%, 04/20/53 | 0.5% |
| Uniform Mortgage-Backed Securities, 5.500%, 10/01/54 | 0.5% |
| Goldman Sachs Group, Inc., 5.727%, 04/25/30 | 0.4% |
| Wells Fargo & Co., 5.707%, 04/22/28 | 0.4% |
| Morgan Stanley, 5.652%, 04/13/28 | 0.4% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 9.6% |
| Common Stock | 0.0% |
| Preferred Stock | 0.0% |
| U.S. Treasury Obligations | 0.6% |
| Sovereign Bonds | 1.3% |
| U.S. Government Agency Obligations | 3.5% |
| Bank Loans | 7.0% |
| Asset-Backed Securities | 13.3% |
| Commercial Mortgage-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 20.2% |
| Collateralized Mortgage Obligations | 26.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Strategic Income Opportunities Fund
Class R: ISIRX
92913L882-SAR
Voya Strategic Income Opportunities Fund
Semi-Annual Shareholder Report
September 30, 2024
Class R6: VSIRX
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class R6 | $28 | 0.55% |
Fund Statistics
- Total Net Assets$2,048,194,077
- # of Portfolio Holdings1,624
- Portfolio Turnover Rate163%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.000%, 10/20/54 | 1.3% |
| Uniform Mortgage-Backed Securities, 5.500%, 11/01/54 | 0.7% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.5% |
| United States Treasury Notes, 3.875%, 08/15/34 | 0.5% |
| GS Mortgage Securities Corp. Trust - Class B, 6.861%, 11/15/36 | 0.5% |
| Ginnie Mae - Class S, 1.770%, 04/20/53 | 0.5% |
| Uniform Mortgage-Backed Securities, 5.500%, 10/01/54 | 0.5% |
| Goldman Sachs Group, Inc., 5.727%, 04/25/30 | 0.4% |
| Wells Fargo & Co., 5.707%, 04/22/28 | 0.4% |
| Morgan Stanley, 5.652%, 04/13/28 | 0.4% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 9.6% |
| Common Stock | 0.0% |
| Preferred Stock | 0.0% |
| U.S. Treasury Obligations | 0.6% |
| Sovereign Bonds | 1.3% |
| U.S. Government Agency Obligations | 3.5% |
| Bank Loans | 7.0% |
| Asset-Backed Securities | 13.3% |
| Commercial Mortgage-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 20.2% |
| Collateralized Mortgage Obligations | 26.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Strategic Income Opportunities Fund
Class R6: VSIRX
92913L536-SAR
Voya Strategic Income Opportunities Fund
Semi-Annual Shareholder Report
September 30, 2024
Class W: ISIWX
This semi-annual shareholder report contains important information about Voya Strategic Income Opportunities Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| Class W | $31 | 0.61% |
Fund Statistics
- Total Net Assets$2,048,194,077
- # of Portfolio Holdings1,624
- Portfolio Turnover Rate163%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Ginnie Mae, 5.000%, 10/20/54 | 1.3% |
| Uniform Mortgage-Backed Securities, 5.500%, 11/01/54 | 0.7% |
| Prima Capital CRE Securitization Ltd. - Class D, 4.250%, 12/25/50 | 0.5% |
| United States Treasury Notes, 3.875%, 08/15/34 | 0.5% |
| GS Mortgage Securities Corp. Trust - Class B, 6.861%, 11/15/36 | 0.5% |
| Ginnie Mae - Class S, 1.770%, 04/20/53 | 0.5% |
| Uniform Mortgage-Backed Securities, 5.500%, 10/01/54 | 0.5% |
| Goldman Sachs Group, Inc., 5.727%, 04/25/30 | 0.4% |
| Wells Fargo & Co., 5.707%, 04/22/28 | 0.4% |
| Morgan Stanley, 5.652%, 04/13/28 | 0.4% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 9.6% |
| Common Stock | 0.0% |
| Preferred Stock | 0.0% |
| U.S. Treasury Obligations | 0.6% |
| Sovereign Bonds | 1.3% |
| U.S. Government Agency Obligations | 3.5% |
| Bank Loans | 7.0% |
| Asset-Backed Securities | 13.3% |
| Commercial Mortgage-Backed Securities | 18.3% |
| Corporate Bonds/Notes | 20.2% |
| Collateralized Mortgage Obligations | 26.2% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya Strategic Income Opportunities Fund
Class W: ISIWX
92913L809-SAR
This semi-annual shareholder report contains important information about Voya VACS Series HYB Fund for the period of April 1, 2024 to September 30, 2024. You can find additional information about the Fund at https://individuals.voya.com/product/mutual-fund/prospectuses-reports. You can also request this information by contacting us at 1-800-992-0180.
What were the Fund’s costs for the last six months? (based on a hypothetical $10,000 investment)
| Class Name | Costs of $10K investment | Costs paid as % of $10K investment |
|---|---|---|
| VACS Series | $6 | 0.13% |
Fund Statistics
- Total Net Assets$153,669,355
- # of Portfolio Holdings362
- Portfolio Turnover Rate38%
What did the Fund invest in?
The tables below reflect the investment makeup of the Fund, excluding derivatives unless otherwise noted, shown as percentage of Fund net assets. Portfolio holdings are subject to change daily.
Top 10 Holdings
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/31 | 0.7% |
| Cloud Software Group, Inc., 6.500%, 03/31/29 | 0.7% |
| CSC Holdings LLC, 11.250%, 05/15/28 | 0.7% |
| Sirius XM Radio, Inc., 5.000%, 08/01/27 | 0.7% |
| Royal Caribbean Cruises Ltd., 5.375%, 07/15/27 | 0.7% |
| CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/30 | 0.6% |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/28 | 0.6% |
| Viking Cruises Ltd., 5.875%, 09/15/27 | 0.6% |
| Carvana Co., 12.000%, 12/01/28 | 0.5% |
| Virgin Media Vendor Financing Notes IV DAC, 5.000%, 07/15/28 | 0.5% |
Investment Type Allocation
| Value | Value |
|---|---|
| Assets in Excess of Other Liabilities | 11.5% |
| Bank Loans | 3.2% |
| Corporate Bonds/Notes | 85.3% |
Availability of Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings & proxy voting, scan the below QR code, visit https://individuals.voya.com/product/mutual-fund/prospectuses-reports or call us at 1-800-992-0180.
Voya VACS Series HYB Fund
Portfolio: VVITX
92913L262-SAR
(b) Not applicable.
Item 2. Code of Ethics.
Not required for semi-annual filing.
Item 3. Audit Committee Financial Expert.
Not required for semi-annual filing.
Item 4. Principal Accountant Fees and Services.
Not required for semi-annual filing.
Item 5. Audit Committee of Listed Registrants.
Not required for semi-annual filing.
Item 6. Schedule of Investments.
(a) Schedule is included as part of the report to shareholders filed under Item 7 of this Form.
(b) Not applicable.
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
The semi-annual financial statements, the Financial Highlights, and the Items 8-11 are attached herewith.
Semi-Annual Financial Statements and Other Information
September 30, 2024
Voya Floating Rate Fund
| ■ | Classes A, C, I, R and W |
| 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 fund’s 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
| Statement of Assets and Liabilities | 3 |
| Statement of Operations | 5 |
| Statements of Changes in Net Assets | 6 |
| Financial Highlights | 7 |
| Notes to Financial Statements | 8 |
| Portfolio of Investments | 16 |
| 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 Fund uses 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 Fund’s 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 Fund voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Fund’s website at www.voyainvestments.com and on the SEC’s website at www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS
The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The Fund’s Forms NPORT-P are available on the SEC’s website at www.sec.gov. The Fund’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 Fund by calling Shareholder Services toll-free at (800) 992-0180.
STATEMENT OF ASSETS AND LIABILITIES AS OF SEPTEMBER 30, 2024 (unaudited)
| ASSETS: | ||||
| Investments in securities at fair value* | $ | 222,195,466 | ||
| Short-term investments at fair value† | 2,493,845 | |||
| Cash | 411,791 | |||
| Receivables: | ||||
| Investment securities sold | 3,331,705 | |||
| Fund shares sold | 2,405,535 | |||
| Dividends | 6,592 | |||
| Interest | 1,412,453 | |||
| Prepaid expenses | 32,460 | |||
| Reimbursement due from Investment Adviser | 34,576 | |||
| Other assets | 47,685 | |||
| Total assets | 232,372,108 | |||
| LIABILITIES: | ||||
| Income distribution payable | 2,160,140 | |||
| Payable for investment securities purchased | 13,460,976 | |||
| Payable for fund shares redeemed | 406,036 | |||
| Payable for investment management fees | 112,957 | |||
| Payable for distribution and shareholder service fees | 43,820 | |||
| Payable to trustees under the deferred compensation plan (Note 6) | 47,685 | |||
| Payable for trustee fees | 669 | |||
| Other accrued expenses and liabilities | 411,827 | |||
| Unfunded loan commitments (Note 9) | 443,385 | |||
| Total liabilities | 17,087,495 | |||
| NET ASSETS | $ | 215,284,613 | ||
| NET ASSETS WERE COMPRISED OF: | ||||
| Paid-in capital | $ | 446,509,434 | ||
| Total distributable loss | (231,224,821 | ) | ||
| NET ASSETS | $ | 215,284,613 | ||
| * Cost of investments in securities | $ | 224,182,277 | ||
| † Cost of short-term investments | $ | 2,493,845 |
See Accompanying Notes to Financial Statements
3
STATEMENT OF ASSETS AND LIABILITIES AS OF SEPTEMBER 30, 2024 (unaudited) (continued)
| Class A | ||||
| Net assets | $ | 33,800,647 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 4,161,431 | |||
| Net asset value and redemption price per share† | $ | 8.12 | ||
| Maximum offering price per share (2.50%)(1) | $ | 8.33 | ||
| Class C | ||||
| Net assets | $ | 5,530,415 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 681,049 | |||
| Net asset value and redemption price per share† | $ | 8.12 | ||
| Class I | ||||
| Net assets | $ | 91,929,961 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 11,316,395 | |||
| Net asset value and redemption price per share | $ | 8.12 | ||
| Class R | ||||
| Net assets | $ | 78,399,947 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 9,674,072 | |||
| Net asset value and redemption price per share | $ | 8.10 | ||
| Class W | ||||
| Net assets | $ | 5,623,643 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 690,890 | |||
| Net asset value and redemption price per share | $ | 8.14 |
| (1) | Maximum offering price is computed at 100/97.50 of net asset value. On purchases of $100,000 or more, the offering price is reduced. |
| † | Redemption price per share may be reduced for any applicable contingent deferred sales charges. |
See Accompanying Notes to Financial Statements
4
STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2024 (unaudited)
| INVESTMENT INCOME: | ||||
| Dividends | $ | 2,600,937 | ||
| Interest | 10,111,295 | |||
| Total investment income | 12,712,232 | |||
| EXPENSES: | ||||
| Investment management fees | 736,049 | |||
| Distribution and shareholder service fees: | ||||
| Class A | 42,855 | |||
| Class C | 27,805 | |||
| Class R | 201,901 | |||
| Transfer agent fees: | ||||
| Class A | 16,286 | |||
| Class C | 2,641 | |||
| Class I | 14,871 | |||
| Class R | 38,394 | |||
| Class W | 2,841 | |||
| Shareholder reporting expense | 6,050 | |||
| Registration fees | 47,560 | |||
| Professional fees | 26,105 | |||
| Custody and accounting expense | 93,320 | |||
| Trustee fees | 3,349 | |||
| Miscellaneous expense | 15,505 | |||
| Interest expense | 13,205 | |||
| Total expenses | 1,288,737 | |||
| Waived and reimbursed fees | (231,984 | ) | ||
| Net expenses | 1,056,753 | |||
| Net investment income | 11,655,479 | |||
| REALIZED AND UNREALIZED GAIN (LOSS): | ||||
| Net realized loss on investments | (341,350 | ) | ||
| Net change in unrealized appreciation (depreciation) on investments | (2,605,678 | ) | ||
| Net realized and unrealized loss | (2,947,028 | ) | ||
| Increase in net assets resulting from operations | $ | 8,708,451 |
See Accompanying Notes to Financial Statements
5
STATEMENTS OF CHANGES IN NET ASSETS
| Six Months Ended | ||||||||
| September 30, 2024 | Year Ended | |||||||
| FROM OPERATIONS: | (Unaudited) | March 31, 2024 | ||||||
| Net investment income | $ | 11,655,479 | $ | 21,245,674 | ||||
| Net realized loss | (341,350 | ) | (20,054,880 | ) | ||||
| Net change in unrealized appreciation (depreciation) | (2,605,678 | ) | 21,161,169 | |||||
| Increase in net assets resulting from operations | 8,708,451 | 22,351,963 | ||||||
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||
| Total distributions (excluding return of capital): | ||||||||
| Class A | (2,088,411 | ) | (3,132,997 | ) | ||||
| Class C | (316,470 | ) | (518,426 | ) | ||||
| Class I | (6,176,228 | ) | (9,886,804 | ) | ||||
| Class R | (4,802,672 | ) | (7,774,883 | ) | ||||
| Class W | (369,096 | ) | (705,359 | ) | ||||
| Total distributions | (13,752,877 | ) | (22,018,469 | ) | ||||
| FROM CAPITAL SHARE TRANSACTIONS: | ||||||||
| Net proceeds from sale of shares | 31,209,279 | 40,377,458 | ||||||
| Reinvestment of distributions | 13,559,831 | 21,637,575 | ||||||
| 44,769,110 | 62,015,033 | |||||||
| Cost of shares redeemed | (51,961,674 | ) | (91,916,202 | ) | ||||
| Net decrease in net assets resulting from capital share transactions | (7,192,564 | ) | (29,901,169 | ) | ||||
| Net decrease in net assets | (12,236,990 | ) | (29,567,675 | ) | ||||
| NET ASSETS: | ||||||||
| Beginning of year or period | 227,521,603 | 257,089,278 | ||||||
| End of year or period | $ | 215,284,613 | $ | 227,521,603 | ||||
See Accompanying Notes to Financial Statements
6
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 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net beginning or period | Net investment (loss) | Net and | 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) | Expenses net of fee waivers and/or recoupments if any(2)(3) | Expenses net of all reductions/ additions(2)(3) | Net investment income (loss)(2)(3) | Net assets, end of year or period | Portfolio turnover rate | |||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | ||||||||||||||||||||||||||||||||||
| Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.30 | 0.42• | (0.10 | ) | 0.32 | 0.50 | — | — | 0.50 | — | 8.12 | 3.83 | 1.18 | 0.94 | 0.94 | 10.29 | 33,801 | 49 | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.29 | 0.74• | 0.04 | 0.78 | 0.77 | — | — | 0.77 | — | 8.30 | 9.87 | 1.17 | 0.99 | 0.99 | 8.97 | 34,474 | 72 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 8.94 | 0.55• | (0.68 | ) | (0.13 | ) | 0.52 | — | — | 0.52 | — | 8.29 | (1.28 | ) | 1.26 | 1.06 | 1.06 | 6.48 | 33,686 | 38 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.04 | 0.30• | (0.11 | ) | 0.19 | 0.29 | — | — | 0.29 | — | 8.94 | 2.15 | 1.20 | 1.02 | 1.02 | 3.37 | 41,990 | 89 | |||||||||||||||||||||||||||||||||
| 03-31-21 | 8.00 | 0.29• | 1.03 | 1.32 | 0.28 | — | — | 0.28 | — | 9.04 | 16.69 | 1.34 | 1.13 | 1.13 | 3.35 | 39,518 | 60 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.59 | 0.46 | (1.58 | ) | (1.12 | ) | 0.47 | — | — | 0.47 | — | 8.00 | (12.34 | ) | 1.18 | 1.10 | 1.10 | 4.83 | 52,014 | 52 | |||||||||||||||||||||||||||||||
| Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.30 | 0.39• | (0.10 | ) | 0.29 | 0.47 | — | — | 0.47 | — | 8.12 | 3.44 | 1.93 | 1.69 | 1.69 | 9.54 | 5,530 | 49 | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.28 | 0.68• | 0.05 | 0.73 | 0.71 | — | — | 0.71 | — | 8.30 | 9.19 | 1.92 | 1.74 | 1.74 | 8.23 | 5,633 | 72 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 8.93 | 0.48• | (0.67 | ) | (0.19 | ) | 0.46 | — | — | 0.46 | — | 8.28 | (2.03 | ) | 2.01 | 1.81 | 1.81 | 5.69 | 6,743 | 38 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.04 | 0.23• | (0.11 | ) | 0.12 | 0.23 | — | — | 0.23 | — | 8.93 | 1.27 | 1.95 | 1.77 | 1.77 | 2.59 | 9,658 | 89 | |||||||||||||||||||||||||||||||||
| 03-31-21 | 8.00 | 0.23• | 1.03 | 1.26 | 0.22 | — | — | 0.22 | — | 9.04 | 15.83 | 2.09 | 1.88 | 1.88 | 2.59 | 14,914 | 60 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.59 | 0.38 | (1.58 | ) | (1.20 | ) | 0.39 | — | — | 0.39 | — | 8.00 | (13.00 | ) | 1.93 | 1.85 | 1.85 | 4.12 | 20,446 | 52 | |||||||||||||||||||||||||||||||
| Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.31 | 0.43• | (0.11 | ) | 0.32 | 0.51 | — | — | 0.51 | — | 8.12 | 3.96 | 0.86 | 0.69 | 0.69 | 10.54 | 91,930 | 49 | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.29 | 0.77• | 0.04 | 0.81 | 0.79 | — | — | 0.79 | — | 8.31 | 10.27 | 0.92 | 0.74 | 0.74 | 9.24 | 99,303 | 72 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 8.94 | 0.55• | (0.65 | ) | (0.10 | ) | 0.55 | — | — | 0.55 | — | 8.29 | (1.03 | ) | 0.92 | 0.81 | 0.81 | 6.50 | 116,954 | 38 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.04 | 0.33• | (0.11 | ) | 0.22 | 0.32 | — | — | 0.32 | — | 8.94 | 2.41 | 0.85 | 0.77 | 0.77 | 3.60 | 225,339 | 89 | |||||||||||||||||||||||||||||||||
| 03-31-21 | 8.00 | 0.31• | 1.03 | 1.34 | 0.30 | — | — | 0.30 | — | 9.04 | 16.97 | 1.00 | 0.88 | 0.88 | 3.61 | 235,804 | 60 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.59 | 0.48 | (1.58 | ) | (1.10 | ) | 0.49 | — | — | 0.49 | — | 8.00 | (12.12 | ) | 0.88 | 0.85 | 0.85 | 5.15 | 427,504 | 52 | |||||||||||||||||||||||||||||||
| Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.29 | 0.41• | (0.11 | ) | 0.30 | 0.49 | — | — | 0.49 | — | 8.10 | 3.69 | 1.43 | 1.19 | 1.19 | 10.04 | 78,400 | 49 | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.27 | 0.72• | 0.05 | 0.77 | 0.75 | — | — | 0.75 | — | 8.29 | 9.75 | 1.42 | 1.24 | 1.24 | 8.72 | 81,838 | 72 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 8.92 | 0.53• | (0.68 | ) | (0.15 | ) | 0.50 | — | — | 0.50 | — | 8.27 | (1.53 | ) | 1.51 | 1.31 | 1.31 | 6.26 | 88,959 | 38 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.03 | 0.28• | (0.12 | ) | 0.16 | 0.27 | — | — | 0.27 | — | 8.92 | 1.78 | 1.45 | 1.27 | 1.27 | 3.12 | 109,837 | 89 | |||||||||||||||||||||||||||||||||
| 03-31-21 | 7.99 | 0.27• | 1.03 | 1.30 | 0.26 | — | — | 0.26 | — | 9.03 | 16.42 | 1.59 | 1.38 | 1.38 | 3.08 | 91,934 | 60 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.58 | 0.43 | (1.58 | ) | (1.15 | ) | 0.44 | — | — | 0.44 | — | 7.99 | (12.57 | ) | 1.43 | 1.35 | 1.35 | 4.60 | 99,774 | 52 | |||||||||||||||||||||||||||||||
| Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.32 | 0.44• | (0.11 | ) | 0.33 | 0.51 | — | — | 0.51 | — | 8.14 | 3.95 | 0.93 | 0.69 | 0.69 | 10.54 | 5,624 | 49 | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.30 | 0.77• | 0.04 | 0.81 | 0.79 | — | — | 0.79 | — | 8.32 | 10.26 | 0.92 | 0.74 | 0.74 | 9.26 | 6,273 | 72 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 8.95 | 0.57• | (0.67 | ) | (0.10 | ) | 0.55 | — | — | 0.55 | — | 8.30 | (1.04 | ) | 1.01 | 0.81 | 0.81 | 6.76 | 10,747 | 38 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.06 | 0.33• | (0.12 | ) | 0.21 | 0.32 | — | — | 0.32 | — | 8.95 | 2.29 | 0.95 | 0.77 | 0.77 | 3.62 | 12,984 | 89 | |||||||||||||||||||||||||||||||||
| 03-31-21 | 8.01 | 0.32• | 1.03 | 1.35 | 0.30 | — | — | 0.30 | — | 9.06 | 17.08 | 1.09 | 0.88 | 0.88 | 3.69 | 11,426 | 60 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.60 | 0.48 | (1.58 | ) | (1.10 | ) | 0.49 | — | — | 0.49 | — | 8.01 | (12.10 | ) | 0.93 | 0.85 | 0.85 | 5.11 | 35,543 | 52 | |||||||||||||||||||||||||||||||
| (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 excluding the deduction of sales charges or contingent deferred sales charges, if applicable. 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 Fund. 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 Fund 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 Fund. Net investment income (loss) is net of all such additions or reductions. | |
| + | Unaudited. | |
| ● | Calculated using average number of shares outstanding throughout the year or period. |
See Accompanying Notes to Financial Statements
7
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited)
NOTE 1 — ORGANIZATION
Voya Funds Trust (the “Trust”) is a Delaware statutory trust and is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust was organized on August 6, 1998 and was established under a Trust Instrument dated July 30, 1998. It consists of nine separately managed series. This report is for Voya Floating Rate Fund (“Floating Rate” or the “Fund”), a diversified series of the Trust.
The Fund offers the following classes of shares: Class A, Class C, Class I, Class R and Class W. The separate classes of shares differ principally in the applicable sales charges (if any), transfer agent fees, distribution fees, shareholder servicing 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 bear the common expenses of a fund and earn income and realized gains/losses from a fund pro rata based on the daily ending net assets of each class, without distinction between share classes. Differences in per share dividend rates generally result from the differences in separate class expenses, including distribution, and shareholder servicing fees, if applicable, as well as differences in the amount of waiver of fees and reimbursement of expenses between the share classes, if any.
Class C shares, along with their pro rata reinvested dividend shares, will automatically convert to Class A shares of the same Fund, after a holding period of 8 years from date of purchase.
Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company, serves as the Investment Adviser to the Fund. Voya Investment Management Co. LLC (“Voya IM”), a Delaware limited liability company, serves as the sub-adviser to the Fund. Voya Investments Distributor, LLC (“VID” or the “Distributor”), a Delaware limited liability company, serves as the principal underwriter to the Fund.
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
The Fund is an investment company and accordingly follows 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 Fund in the preparation of its financial statements. The Fund 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. Senior Loan and Other Security Valuation. The Fund 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 of the Fund 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 the Fund is calculated by taking the value of the Fund’s assets attributable to that class, subtracting the Fund’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when the Fund is closed for business, Fund shares will not be priced and the Fund does not transact purchase and redemption orders. To the extent the Fund’s assets are traded in other markets on days when the Fund does not price its shares, the value of the Fund’s assets will likely change and you will not be able to purchase or redeem shares of the Fund.
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 the Fund 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 Fund 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 the Fund’s assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or the Fund’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
8
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
inherent uncertainties of fair valuation, the values used to determine the Fund’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 the Fund.
The Fund’s 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 fund 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 fund’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 the Fund’s investments under these levels of classification is included within the Portfolio of
Investments.
Each investment asset or liability of the Fund 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. A table summarizing the Fund’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 the Fund has a significant amount of Level 3 investments.
B. Securities Transactions and Revenue Recognition. Security transactions and senior loans are accounted for on trade date (date the order to buy or sell is executed). Realized gains or losses are reported on the basis of identified cost of securities sold. Interest income is recorded on an accrual basis at the then-current loan rate. The accrual of interest on loans is partially or fully discontinued when, in the opinion of management, there is an indication that the borrower may be unable to meet payments as they become due. If determined to be uncollectible, unpaid accrued interest is also written off. Cash collections on non-accrual loans are generally applied as a reduction to the recorded investment of the loan. Loans are generally returned to accrual status only after all past due amounts have been received and the borrower has demonstrated sustained performance. Premium amortization and discount accretion are deferred and recognized over the lives of the respective loans. Arrangement fees received on revolving credit facilities, which represent non-refundable fees or purchase discounts associated with the acquisition of loans, are deferred and recognized using the effective yield method over the lives of the respective loans. No such fees are recognized on loans which have been placed on non-accrual status. Arrangement fees associated with all other loans, except revolving credit facilities, are treated as discounts and are accreted as described above. Dividend income is recorded on the ex-dividend date. Amendment fees are earned as
9
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
compensation for evaluating and accepting changes to an original loan agreement and are recognized when received. Amendment fees and other fees earned are reported as other income on the Statement of Operations.
C. Foreign Currency Translation. The books and records of the Fund 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 Fund does 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 Statement 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 taxes recorded on the Fund’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. When-Issued and Delayed-Delivery. Securities purchased or sold on a when-issued, delayed-delivery or forward purchase commitment basis may have extended settlement periods. The value of the security so purchased is subject to market fluctuations during this period. Due to the nature of the Senior Loan market, the actual settlement date may not be certain at the time of the purchase or sale for some of the Senior Loans. Interest income on such Senior Loans is not accrued until settlement date.
E. Federal Income Taxes. It is the policy of the Fund 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 Fund’s tax positions taken on federal income tax returns for all open tax years in making this determination. The Fund may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.
F. Distributions to Shareholders. The Fund declares and goes ex-dividend daily and pays dividends monthly from net investment income. Distributions from capital gains, if any, are declared and paid annually. The Fund may make additional distributions to comply with the distribution requirements of the Internal Revenue Code. The character and amounts of income and gains to be distributed are determined in accordance with federal income tax regulations, which may differ from GAAP for investment companies. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as return of capital. The Fund records distributions to its shareholders on the ex-dividend date.
G. 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.
H. Indemnifications. In the normal course of business, the Fund may enter into contracts that provide certain indemnifications. The Fund’s maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.
10
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 3 — INVESTMENT TRANSACTIONS
For the period ended September 30, 2024, the cost of purchases and the proceeds from principal repayment and sales of investments, excluding short-term investments, totaled $112,127,548 and $116,386,079, respectively.
The loans acquired by the Fund typically take the form of a direct lending relationship with the borrower acquired through an assignment of another lender’s interest in a loan. The lead lender in a typical corporate loan syndicate administers the loan and monitors collateral. In the event that the lead lender becomes insolvent, enters Federal Deposit Insurance Corporation (“FDIC”) receivership or, if not FDIC insured, enters into bankruptcy, the Fund may incur certain costs and delays in realizing payment, or may suffer a loss of principal and/or interest.
NOTE 4 — INVESTMENT MANAGEMENT FEES
The Fund has entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Fund. The Investment Adviser oversees all investment advisory and portfolio management services for the Fund and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Fund, 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, at an annual rate of 0.650% on the first $300 million; 0.625% on the next $200 million; and 0.600% thereafter, of the Fund’s average daily net assets.
The Investment Adviser has agreed to waive 0.02% of the management fee through August 1, 2025. Any fees waived or reimbursed in relation to this waiver are not eligible for recoupment. Termination or modification of this obligation requires approval by the Board.
The Investment Adviser has entered into a sub-advisory agreement with Voya IM. Voya IM provides investment advice for the Fund and is paid by the Investment Adviser based on the average daily net assets of the Fund. Subject to policies as the Board or the Investment Adviser may determine, Voya IM manages the Fund’s assets in accordance with the Fund’s investment objectives, policies and limitations.
NOTE 5 — DISTRIBUTION AND SERVICE FEES
Class A, Class C and Class R shares of the Fund each has a distribution and/or distribution and service plan (the “Plan”), whereby the Distributor is compensated by the Fund for expenses incurred in the distribution and/or shareholder servicing of the Fund’s shares (“Distribution
and/or Service Fees”). Pursuant to the Plan, the Distributor is entitled to payment each month for expenses incurred in the distribution and promotion of the Fund’s shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any Distribution and/or Service Fees paid to securities dealers who have executed a distribution agreement with the Distributor. In addition, the Fund has a shareholder service plan for Class A and Class C shares (together with the Plan referenced above, the “Plans”). Under the Plans, each class of shares of the Fund pays the Distributor a Distribution and/ or Service Fee based on average daily net assets at the following annual rates:
| Class A | Class C | Class R | ||
| 0.25% | 1.00% | 0.50% |
The Distributor may also retain the proceeds of the initial sales charge paid by shareholders upon the purchase of Class A shares of the Fund and the contingent deferred sales charge paid by shareholders upon certain redemptions for Class A and Class C shares. For the period ended September 30, 2024, the Distributor retained the following amounts:
| Class A | Class C | |||||||
| Initial Sales Charges: | $ | 4,836 | $ | — | ||||
| Contingent Deferred Sales Charges: | $ | — | $ | 11 |
NOTE 6 — EXPENSE LIMITATION AGREEMENT
Pursuant to a written expense limitation agreement (“Expense Limitation Agreement”) with the Fund, 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:
Maximum Operating Expense Limit(1)
(as a percentage of average daily net assets)
Class A – 1.00%
Class C – 1.75%
Class I – 0.75%
Class R – 1.25%
Class W – 0.75%
| (1) | Pursuant to a side letter agreement through August 1, 2025, the Investment Adviser has further lowered expenses to 0.95%, 1.70%, 0.70%, 1.20% and 0.70% for Class A, Class C, Class I, Class R and Class W, 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 waiver for the Fund,
11
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 6 — EXPENSE LIMITATION AGREEMENT (continued)
the Investment Adviser may at a later date recoup from the Fund for fees waived and/or other expenses assumed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, the Fund’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 Statement of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statement of Assets and Liabilities.
As of September 30, 2024, there are no amounts of waived and/or reimbursed fees that are subject to possible recoupment by the Investment Advisor.
The Expense Limitation Agreement is contractual through August 1, 2025 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.
NOTE 7 — LINE OF CREDIT
Effective May 6, 2024, the Fund joined certain other funds managed by the Investment Adviser in an unsecured committed revolving line of credit agreement with The Bank of New York Mellon 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 Fund 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 May 3, 2024, the unsecured committed revolving line of credit agreement was with State Street Bank and Trust Company for an aggregate amount of $50,000,000 and the commitment fee was equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears through May 3, 2024. Generally, borrowings under the Credit Agreement accrue interest at the higher of the federal funds rate and the overnight bank funding rate, plus a specified margin and 0.10%. Repayments generally must be made within 45 days after the date of a revolving credit advance.
The Fund utilized the line of credit during the period ended September 30, 2024, as follows:
| Approximate | ||||||
| Approximate | Weighted | |||||
| Average | Average | |||||
| Daily Balance | Interest Rate | |||||
| Days | For Days | For Days | ||||
| Utilized | Utilized | Utilized | ||||
| 20 | $ | 3,755,000 | 6.33% | |||
NOTE 8 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
At September 30, 2024, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. owned more than 5% of the Fund:
| Subsidiary | Percentage | ||
| Voya Institutional Trust Company | 36.99% |
The Fund has adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent trustees, as described in the DC Plan, to defer the receipt of all or a portion of the trustees’ fees that they are entitled to receive from the Fund. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the trustee (the “Notional Funds”). When the Fund purchases shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the trustees’ deferred fees, this results in a Fund asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets” on the accompanying Statement of Assets and Liabilities. Deferral of trustees’ fees under the DC Plan will not affect net assets of the Fund, and will not materially affect the Fund’s assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.
The Fund may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended September 30, 2024, the per account fees for affiliated recordkeeping services paid by the Fund were $52,357.
NOTE 9 — UNFUNDED LOAN COMMITMENTS
The Fund may enter into credit agreements, all or a portion of which may be unfunded. The Fund is obligated to fund these loan commitments at the borrower’s discretion. Funded and unfunded portions of the credit agreements are presented within the Portfolio of Investments. At September 30, 2024, the Fund had the following unfunded loan commitments:
12
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 9 — UNFUNDED LOAN COMMITMENTS (continued)
| Unfunded | ||||
| Loan | ||||
| Loan | Commitment | |||
| Epicor Software Corporation 2024 Delayed Draw Term Loan | $ | 147,979 | ||
| Focus Financial Partners LLC 2024 Delayed Draw Term Loan | 101,835 | |||
| Formula One Management Limited Incremental Term Facility | 113,333 | |||
| Ryan LLC Delayed Draw Term Loan | 43,809 | |||
| Usalco, LLC Delayed Tl | 36,429 | |||
| $ | 443,385 | |||
NOTE 10 — CAPITAL SHARES
Transactions in capital shares and dollars were as follows:
| Proceeds | ||||||||||||||||||||||||
| Net increase | from | |||||||||||||||||||||||
| Shares | Reinvestment | (decrease) 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 | # | # | # | # | # | # | ($) | ($) | ($) | ($) | ($) | ($) | ||||||||||||
| Class A | ||||||||||||||||||||||||
| 9/30/2024 | 203,484 | — | 236,311 | (429,518) | — | 10,277 | 1,748,760 | — | 1,938,171 | (3,525,443) | — | 161,488 | ||||||||||||
| 3/31/2024 | 390,198 | — | 353,193 | (657,957) | — | 85,434 | 3,234,809 | — | 2,930,584 | (5,464,929) | — | 700,464 | ||||||||||||
| Class C | ||||||||||||||||||||||||
| 9/30/2024 | 28,495 | — | 35,185 | (61,155) | — | 2,525 | 233,731 | — | 288,558 | (502,322) | — | 19,967 | ||||||||||||
| 3/31/2024 | 73,792 | — | 56,693 | (265,921) | — | (135,436) | 612,738 | — | 470,290 | (2,205,054) | — | (1,122,026) | ||||||||||||
| Class I | ||||||||||||||||||||||||
| 9/30/2024 | 3,163,008 | — | 751,734 | (4,551,423) | — | (636,681) | 26,055,568 | — | 6,166,440 | (37,391,938) | — | (5,169,930) | ||||||||||||
| 3/31/2024 | 4,014,603 | — | 1,176,783 | (7,341,145) | — | (2,149,759) | 33,350,145 | — | 9,764,546 | (60,808,038) | — | (17,693,347) | ||||||||||||
| Class R | ||||||||||||||||||||||||
| 9/30/2024 | 351,648 | — | 586,740 | (1,140,064) | — | (201,676) | 2,848,328 | — | 4,802,672 | (9,336,852) | — | (1,685,852) | ||||||||||||
| 3/31/2024 | 281,499 | — | 939,075 | (2,101,110) | — | (880,536) | 2,333,960 | — | 7,774,875 | (17,399,214) | — | (7,290,379) | ||||||||||||
| Class W | ||||||||||||||||||||||||
| 9/30/2024 | 39,005 | — | 44,264 | (146,144) | — | (62,875) | 322,892 | — | 363,990 | (1,205,119) | — | (518,237) | ||||||||||||
| 3/31/2024 | 101,546 | — | 83,906 | (726,289) | — | (540,837) | 845,546 | — | 697,280 | (6,038,967) | — | (4,496,141) |
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 wash sale deferrals.
Dividends paid by the Fund 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 | Year Ended | ||||
| March 31, 2024 | March 31, 2023 | ||||
| Ordinary | Ordinary | ||||
| Income | Income | ||||
| $ | 22,018,469 | $ | 22,253,686 | ||
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 March 31, 2024 were:
13
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 11 — FEDERAL INCOME TAXES (continued)
| Undistributed | Unrealized | Total | ||||||||||||||||||
| Ordinary | Appreciation/ | Capital Loss | Carryforwards | Distributable | ||||||||||||||||
| Income | (Depreciation) | Amount | Character | Other | Earnings/(Loss) | |||||||||||||||
| $ | 3,025,139 | $ | 509,614 | $ | (48,995,991 | ) | Short-term | $ | (35,075 | ) | $ | (226,180,395 | ) | |||||||
| (180,684,082 | ) | Long-term | ||||||||||||||||||
| $ | (229,680,073 | ) | ||||||||||||||||||
The Fund’s major tax jurisdictions are U.S. federal and Arizona state.
As of September 30, 2024, no provision for income tax is required in the Fund’s financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Fund’s 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 Fund 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 Fund 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 13 — MARKET DISRUPTION AND GEOPOLITICAL RISK
The Fund 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.
14
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 13 — MARKET DISRUPTION AND GEOPOLITICAL RISK (continued)
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 the Fund's investments. Any of these occurrences could disrupt the operations of the Fund and of the Fund's service providers.
NOTE 14 — SUBSEQUENT EVENTS
Reorganization: On November 14, 2024, the Board approved a proposal to reorganize the Fund with and
into Voya Short Duration High Income Fund, which is not included in this report and is a series of Voya Funds Trust (the "Reorganization"). The proposed Reorganization is subject to shareholder approval. If shareholder approval of the proposed Reorganization is obtained, it is expected that the proposed Reorganization will take place at the close of business on or about August 8, 2025.
Dividends: Subsequent to September 30, 2024, the Fund declared dividends from net investment income of:
| Per Share | Payable | Record | |||
| Amount | Date | Date | |||
| Class A | $0.0837 | November 1, 2024 | Daily | ||
| Class C | $0.0785 | November 1, 2024 | Daily | ||
| Class I | $0.0854 | November 1, 2024 | Daily | ||
| Class R | $0.0817 | November 1, 2024 | Daily | ||
| Class W | $0.0856 | November 1, 2024 | Daily |
The Fund has evaluated events occurring after the Statement 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 above, no such subsequent events were identified.
15
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: 96.4% | |||||||||||
| Aerospace & Defense: 1.4% | |||||||||||
| 495,966 | Barnes Group Inc., 2024 Refinancing Term Loan, 7.345%, (TSFR3M+2.500%), 09/03/2030 | $ | 496,958 | 0.2 | |||||||
| 551,532 | Dynasty Acquisition Co Inc, 2024 Refi Term B-1 Loan, 8.747%, (TSFR1M+3.500%), 08/24/2028 | 552,584 | 0.3 | ||||||||
| 223,682 | Dynasty Acquisition Co Inc, 2024 Refi Term B-2 Loan, 8.345%, (TSFR1M+3.500%), 08/24/2028 | 224,109 | 0.1 | ||||||||
| 1,452,696 | Peraton Corp, Tranche B, 8.953%, (TSFR1M+3.750%), 02/01/2028 | 1,401,095 | 0.7 | ||||||||
| 256,500 | Radar Bidco Sarl, Facility B (USD) Loan, 9.568%, (TSFR3M+4.250%), 03/27/2031 | 256,821 | 0.1 | ||||||||
| 2,931,567 | 1.4 | ||||||||||
| Air Transport: 0.3% | |||||||||||
| 540,886 | Savage Enterprises LLC, Term Loan B, 7.845%, (TSFR1M+3.250%), 09/15/2028 | 543,059 | 0.3 | ||||||||
| Auto Components: 1.2% | |||||||||||
| 507,200 | American Axle & Manufacturing Inc, New Tranche B Term Loan, 8.104%, (TSFR1M+3.500%), 12/13/2029 | 509,419 | 0.2 | ||||||||
| 663,112 | Holley Purchaser, Inc., Initial Term Loan, 8.710%, (TSFR1M+3.750%), 11/17/2028 | 649,159 | 0.3 | ||||||||
| 651,716 | RC Buyer Inc, First Lien Initial Term Loan, 8.460%, (TSFR1M+3.614%), 07/28/2028 | 652,836 | 0.3 | ||||||||
| 858,738 | RealTruck Goup Inc (fka Truck Hero), Initial Term Loan, 8.460%, (TSFR1M+3.500%), 01/31/2028 | 845,521 | 0.4 | ||||||||
| 2,656,935 | 1.2 | ||||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Automotive: 0.3% | |||||||||||
| 497,334 | IXS Holdings Inc, Initial Term Loan, 8.954%, (TSFR6M+4.250%), 03/05/2027 | $ | 485,523 | 0.2 | |||||||
| 188,755 | MajorDrive Holdings IV LLC, Initial Term Loan, 8.865%, (TSFR3M+4.000%), 06/01/2028 | 189,374 | 0.1 | ||||||||
| 674,897 | 0.3 | ||||||||||
| Basic Materials: 3.2% | |||||||||||
| 415,000 | A-Ap Buyer, Inc., Initial Term Loan, 7.854%, (TSFR3M+7.854%), 08/01/2031 | 417,594 | 0.2 | ||||||||
| 371,262 | Arsenal Aic Parent LLC, 2024 Term Loan B, 8.095%, (TSFR1M+8.095%), 08/19/2030 | 371,679 | 0.2 | ||||||||
| 447,750 | Consolidated Energy Finance SA, 2024 Incremental Term,Loan, 9.557%, (TSFR3M+4.500%), 11/15/2030 | 422,377 | 0.2 | ||||||||
| 750,000 | Covia Holdings Corporation, Take Back Debt Term Loan, 9.580%, (TSFR3M+3.500%), 07/31/2026 | 747,071 | 0.3 | ||||||||
| 843,003 | Ineos Finance PLC, 2030 Dollar Term Loans, 8.095%, (US0006M+3.500%), 02/19/2030 | 842,476 | 0.4 | ||||||||
| 155,040 | Ineos US Petrochem LLC, 2026 Tranche B Dollar Term Loan, 7.710%, (TSFR1M+7.710%), 01/29/2026 | 155,137 | 0.1 | ||||||||
| 494,987 | Ineos US Petrochem LLC, 2030 Tranche B Dollar Term Loan, 8.695%, (US0006M+3.750%), 03/14/2030 | 496,019 | 0.2 | ||||||||
| 844,754 | LSF11 A5 Holdco LLC, 2024 Refinancing Term Loan, 8.460%, (TSFR1M+3.614%), 10/16/2028 | 844,314 | 0.4 | ||||||||
See Accompanying Notes to Financial Statements
16
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Basic Materials: (continued) | |||||||||||
| 610,579 | Olympus Water US Holding Corporation, Term B-5 Usd Loans, 8.104%, (TSFR3M+8.104%), 06/20/2031 | $ | 611,374 | 0.3 | |||||||
| 460,000 (1) | Paint Intermediate III LLC, Paint Intermediate/ Wesco Group Cov-Lite Tlb, 09/11/2031 | 460,000 | 0.2 | ||||||||
| 350,604 | Spa Holdings 3 Oy, Facility B (USD) Loan, 8.615%, (TSFR3M+8.615%), 02/04/2028 | 351,042 | 0.2 | ||||||||
| 36,429 (1)(2) | Usalco, LLC, Delayed Tl, 03/30/2026 | 36,429 | 0.0 | ||||||||
| 353,571 (1) | Usalco, LLC, Term Loan, 09/30/2031 | 353,571 | 0.2 | ||||||||
| 757,858 | WR Grace Holdings LLC, Initial Term Loan, 7.854%, (TSFR3M+3.750%), 09/22/2028 | 760,700 | 0.3 | ||||||||
| 6,869,783 | 3.2 | ||||||||||
| Building & Development: 0.6% | |||||||||||
| 794,844 | LBM Acquisition LLC, First Lien Initial Term Loan, 9.097%, (TSFR1M+3.850%), 12/17/2027 | 791,366 | 0.4 | ||||||||
| 600,258 | LHS Borrower, LLC, Initial Term Loan, 9.695%, (US0006M+4.750%), 02/16/2029 | 574,497 | 0.2 | ||||||||
| 1,365,863 | 0.6 | ||||||||||
| Business Equipment & Services: 0.9% | |||||||||||
| 656,357 | Ensono LP, First Lien Initial Term Loan, 9.361%, (US0001M+4.000%), 05/26/2028 | 656,083 | 0.3 | ||||||||
| 463,976 | Open Text Corporation, 2024 Replacement Term Loan, 7.095%, (TSFR1M+2.750%), 01/31/2030 | 466,188 | 0.2 | ||||||||
| 706,702 | VM Consolidated Inc, Term B-2 Loan, 7.595%, (TSFR1M+2.750%), 03/24/2028 | 708,615 | 0.4 | ||||||||
| 1,830,886 | 0.9 | ||||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Chemicals & Plastics: 1.4% | |||||||||||
| 857,957 | Charter Next Generation, Inc., Term Loan, 8.095%, (TSFR1M+3.250%), 12/01/2027 | $ | 859,224 | 0.4 | |||||||
| 496,356 | Geon Performance Solutions LLC, 2024 Refinancing Term Loan, 9.115%, (TSFR3M+4.512%), 08/18/2028 | 499,148 | 0.2 | ||||||||
| 347,620 | Herens Holdco Sarl, Facility B USD Loans, 8.629%, (TSFR3M+3.925%), 07/03/2028 | 326,056 | 0.2 | ||||||||
| 574,638 | Ineos US Finance LLC, 2028 Dollar Term Loan, 7.445%, (TSFR1M+2.500%), 11/08/2028 | 573,561 | 0.3 | ||||||||
| 685,354 | Sparta US HoldCo LLC, First Lien Initial Term Loan, 8.451%, (TSFR1M+3.250%), 08/02/2028 | 685,966 | 0.3 | ||||||||
| 2,943,955 | 1.4 | ||||||||||
| Commodities: 0.8% | |||||||||||
| 294,099 | Foundation Building Materials Inc, 2024 Incremental Term Loan, 9.252%, (TSFR1M+4.114%), 01/29/2031 | 286,884 | 0.1 | ||||||||
| 836,887 | Foundation Building Materials Inc, Initial Term Loan (First Lien), 8.764%, (TSFR3M+3.512%), 01/31/2028 | 816,663 | 0.4 | ||||||||
| 557,563 | Specialty Building Products Holdings LLC, First Lien Initial Term Loan, 8.695%, (US0006M+3.750%), 10/15/2028 | 554,798 | 0.3 | ||||||||
| 1,658,345 | 0.8 | ||||||||||
| Communications: 5.0% | |||||||||||
| 619,321 | Arches Buyer Inc, Refinancing Term Loan, 8.195%, (TSFR1M+3.350%), 12/06/2027 | 595,387 | 0.3 | ||||||||
| 567,150 | Cengage Learning Inc, Term Loan B, 9.538%, (TSFR6M+4.250%), 03/24/2031 | 569,148 | 0.2 | ||||||||
See Accompanying Notes to Financial Statements
17
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Communications: (continued) | |||||||||||
| 839,930 | CNT Holdings I Corp, First Lien Initial Term Loan, 8.752%, (TSFR1M+3.500%), 11/08/2027 | $ | 842,846 | 0.4 | |||||||
| 618,991 | Connect US Finco LLC, Amendment No. 4 Term Loan, 9.345%, (TSFR1M+4.500%), 09/13/2029 | 582,819 | 0.3 | ||||||||
| 498,750 | Crown Subsea Communications Holding Inc, 2024 Term Loan, 9.252%, (TSFR3M+4.000%), 01/30/2031 | 502,303 | 0.2 | ||||||||
| 670,849 | Dotdash Meredith, Inc., Term Loan B, 9.301%, (TSFR1M+3.500%), 12/01/2028 | 671,967 | 0.3 | ||||||||
| 815,646 | Gogo Intermediate Holdings LLC, Initial Term Loan, 9.111%, (TSFR1M+3.500%), 04/30/2028 | 770,786 | 0.3 | ||||||||
| 1,025,000 | GoodRX Inc, 2024 Term Loan, 8.595%, (TSFR1M+3.750%), 07/10/2029 | 1,027,082 | 0.5 | ||||||||
| 175,000 (1) | I-Logic Technologies Bidco Limited, Tl, 02/16/2028 | 174,344 | 0.1 | ||||||||
| 375,193 | Ion Trading Finance Limited, Replacement 2024 Dollar Term Loans, 9.016%, (TSFR3M+9.016%), 04/03/2028 | 375,792 | 0.2 | ||||||||
| 453,863 | Magnite Inc, New Term Loan, 8.595%, (TSFR1M+8.595%), 02/06/2031 | 457,834 | 0.2 | ||||||||
| 583,967 | McGraw-Hill Education Inc, 2024 Term Loan, 8.604%, (TSFR1M+4.000%), 08/01/2031 | 586,887 | 0.3 | ||||||||
| 1,030,917 | MH Sub I LLC, 2023 May New Term Loans, 9.095%, (TSFR1M+4.250%), 05/03/2028 | 1,025,602 | 0.5 | ||||||||
| 812,561 | Proofpoint Inc, 2024 Refinancing Term Loan, 7.845%, (TSFR1M+3.000%), 08/31/2028 | 813,181 | 0.4 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Communications: (continued) | |||||||||||
| 572,125 | The Knot Worldwide Inc, Term Loan, 9.611%, (TSFR1M+4.500%), 01/31/2028 | $ | 574,270 | 0.2 | |||||||
| 195,000 | TripAdvisor Inc, Initial Term B Loan, 7.595%, (TSFR1M+2.750%), 07/01/2031 | 194,919 | 0.1 | ||||||||
| 596,947 | Univision Communications Inc, 2022 Incremental First-Lien Term Loan, 8.854%, (TSFR3M+8.854%), 06/25/2029 | 589,858 | 0.3 | ||||||||
| 59,850 | Univision Communications Inc, 2024 Replacement First-Lien Term Loan, 8.460%, (TSFR1M+8.460%), 07/31/2029 | 58,511 | 0.0 | ||||||||
| 450,000 | Ziggo Financing Partnership, Term Loan I, 7.711%, (TSFR1M+7.711%), 04/30/2028 | 440,121 | 0.2 | ||||||||
| 10,853,657 | 5.0 | ||||||||||
| Consumer, Cyclical: 11.2% | |||||||||||
| 922,688 | 1011778 BC Unlimited Liability Company, Term Loan B-6, 6.595%, (TSFR1M+1.750%), 09/20/2030 | 915,383 | 0.4 | ||||||||
| 678,398 | ABG Intermediate Holdings 2 LLC, 2024 Refinancing Term Loan, 7.997%, (TSFR1M+2.750%), 12/21/2028 | 679,829 | 0.3 | ||||||||
| 345,485 | Alterra Mountain Company, TERM LOAN B-4, 8.095%, (TSFR1M+8.095%), 08/17/2028 | 346,349 | 0.2 | ||||||||
| 302,666 | Alterra Mountain Company, Term Loan B5, 8.345%, (TSFR1M+3.500%), 05/31/2030 | 304,558 | 0.1 | ||||||||
| 130,125 | Amer Sports Company, Initial Usd Term Loans, 8.346%, (TSFR3M+3.250%), 02/17/2031 | 130,532 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
18
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Cyclical: (continued) | |||||||||||
| 1,019,301 | American Airlines Inc, Initial Term Loan, 10.294%, (TSFR3M+5.012%), 04/20/2028 | $ | 1,048,780 | 0.5 | |||||||
| 606,188 | American Greetings Corporation, Tranche C Term Loan, 10.595%, (TSFR1M+5.750%), 10/23/2029 | 611,997 | 0.3 | ||||||||
| 889,461 | Ascend Learning LLC, Tranche B, 13.850%, (TSFR1M+3.600%), 12/11/2028 | 886,743 | 0.4 | ||||||||
| 823,213 | Autokiniton US Holdings Inc, 2024 Replacement Term B Loan, 8.960%, (TSFR3M+4.000%), 04/06/2028 | 824,242 | 0.4 | ||||||||
| 894,143 | Bombardier Recreational Products Inc, 2023 Replacement Term Loan, 7.595%, (TSFR1M+2.750%), 12/13/2029 | 893,770 | 0.4 | ||||||||
| 474,874 | Caesars Entertainment, Inc., Term Loan B, 7.595%, (TSFR1M+7.595%), 02/06/2030 | 475,637 | 0.2 | ||||||||
| 570,399 | City Football Group Limited, Tl, 7.969%, (TSFR1M+3.262%), 07/21/2030 | 566,121 | 0.3 | ||||||||
| 391,251 | ClubCorp Holdings Inc, Term Loan, 9.865%, (TSFR3M+5.262%), 09/18/2026 | 392,229 | 0.2 | ||||||||
| 217,048 | Core & Main LP, Tranche D Term Loan, 6.855%, (TSFR1M+6.855%), 07/27/2028 | 217,184 | 0.1 | ||||||||
| 445,395 | Dealer Tire Financial LLC, 2024 Tlb B-4, 8.345%, (TSFR1M+3.500%), 07/02/2031 | 447,251 | 0.2 | ||||||||
| 531,484 | Delta Air Lines Inc, Initial Term Loan, 9.032%, (TSFR3M+9.032%), 10/20/2027 | 542,003 | 0.2 | ||||||||
| 249,375 | Entain PLC, Facility B3, 8.014%, (TSFR6M+8.014%), 10/31/2029 | 249,764 | 0.1 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Cyclical: (continued) | |||||||||||
| 113,333 (1)(2) | Formula One Management Limited, Incremental Term Facility, 09/19/2031 | $ | 113,357 | 0.1 | |||||||
| 226,667 (1) | Formula One Management Limited, Term Loan B1, 09/19/2031 | 226,714 | 0.1 | ||||||||
| 1,142,138 | Gates Corporation, Inital B-5 Dollar Term Loan, 7.095%, (TSFR1M+2.250%), 06/04/2031 | 1,145,513 | 0.5 | ||||||||
| 1,115,000 | Harbor Freight Tools USA Inc, Initial Term Loan, 7.345%, (TSFR1M+2.500%), 06/11/2031 | 1,098,972 | 0.5 | ||||||||
| 335,889 | Hunter Douglas Holding BV, Tranche B-1 Term Loans, 8.571%, (TSFR1M+3.500%), 02/26/2029 | 333,970 | 0.2 | ||||||||
| 887,714 | IRB Holding Corp, 2024 Replacement Term B Loan, 8.097%, (TSFR1M+2.750%), 12/15/2027 | 887,695 | 0.4 | ||||||||
| 487,550 | Kodiak BP LLC, 2024-1 Term Loan, 8.595%, (TSFR3M+3.750%), 03/17/2028 | 489,988 | 0.2 | ||||||||
| 600,000 | Lc Ahab Us Bidco LLC, Initial Term Loan, 8.345%, (TSFR1M+3.500%), 05/01/2031 | 603,375 | 0.3 | ||||||||
| 982,538 | Light And Wonder International, Inc., Term Loan B-2, 7.333%, (TSFR1M+7.333%), 04/16/2029 | 981,105 | 0.5 | ||||||||
| 907,262 | LS Group OPCO Acquisition LLC, Term Loan B, 7.845%, (TSFR1M+3.000%), 04/15/2031 | 908,680 | 0.4 | ||||||||
| 1,040,612 | Osmosis Buyer Limited, Initial Term B Loans, 8.701%, (TSFR1M+4.000%), 07/31/2028 | 1,040,493 | 0.5 | ||||||||
| 555,000 | Peer Holding III BV, Facility B5, 3.046%, (TSFR3M+3.000%), 06/23/2031 | 557,428 | 0.3 | ||||||||
See Accompanying Notes to Financial Statements
19
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Cyclical: (continued) | |||||||||||
| 659,391 | Penn National Gaming Inc, Term B Facility, 7.695%, (TSFR1M+3.500%), 05/03/2029 | $ | 661,823 | 0.3 | |||||||
| 170,000 | Raising Canes Restaurants LLC, Initial Term Loan, 7.014%, (TSFR1M+7.014%), 09/10/2031 | 170,283 | 0.1 | ||||||||
| 61,855 | Restoration Hardware, Inc., 2022 Incremental Term Loan, 10/20/2028 | 60,232 | 0.0 | ||||||||
| 206,034 | Samsonite International S.A., 2024 Tranche B Term Loan, 6.845%, (TSFR1M+6.845%), 06/21/2030 | 206,806 | 0.1 | ||||||||
| 732,572 | Scientific Games Holdings LP, 2024 REFI DOLLAR TERM LOAN, 8.318%, (TSFR3M+3.000%), 04/04/2029 | 729,443 | 0.3 | ||||||||
| 427,149 | SRAM LLC, Initial Term Loan, 7.710%, (TSFR1M+7.710%), 05/18/2028 | 427,816 | 0.2 | ||||||||
| 446,962 | TGP Holdings III LLC, First Lien Closing Date Term Loan, 8.195%, (TSFR1M+3.350%), 06/29/2028 | 422,876 | 0.2 | ||||||||
| 279,190 | Thor Industries Inc, TERM B-3 USD, 7.095%, (TSFR1M+2.250%), 11/15/2030 | 280,063 | 0.1 | ||||||||
| 445,578 | Topgolf Callaway Brands Corp., Initial Term Loan, 7.845%, (TSFR1M+3.000%), 03/15/2030 | 439,916 | 0.2 | ||||||||
| 427,850 | United AirLines Inc, Class B Term Loan, 8.033%, (TSFR3M+2.750%), 02/22/2031 | 429,287 | 0.2 | ||||||||
| 856,721 | Whatabrands LLC, Term Loan B, 7.595%, (TSFR1M+2.750%), 08/03/2028 | 856,423 | 0.4 | ||||||||
| 888,536 | White Cap Buyer LLC, Tranche C Term Loan, 8.095%, (TSFR1M+8.095%), 10/19/2029 | 882,629 | 0.4 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Cyclical: (continued) | |||||||||||
| 579,168 | Windsor Holdings III LLC, Facility 2024 September Dollar REFI TLB, 8.461%, (TSFR1M+8.461%), 08/01/2030 | $ | 582,064 | 0.3 | |||||||
| 24,069,323 | 11.2 | ||||||||||
| Consumer, Non-cyclical: 13.0% | |||||||||||
| 369,574 | Albion Financing 3 SARL, New 2024 Amended Usd Term Loan, 9.826%, (TSFR3M+9.826%), 08/17/2029 | 371,884 | 0.2 | ||||||||
| 335,000 | American Airlines Inc, Initial Term Loans, 7.209%, (TSFR6M+3.500%), 06/04/2029 | 333,278 | 0.2 | ||||||||
| 648,375 | Auris Luxembourg III SARL, Facility B4, 9.564%, (TSFR6M+4.678%), 02/27/2029 | 649,287 | 0.3 | ||||||||
| 814,781 | Avis Budget Car Rental LLC, New Tranche C Term Loan, 7.945%, (TSFR1M+3.100%), 03/16/2029 | 816,207 | 0.4 | ||||||||
| 942,132 | Bausch & Lomb Corporation, Initial Term Loan, 8.270%, (TSFR1M+3.350%), 05/10/2027 | 939,646 | 0.4 | ||||||||
| 450,000 (1) | Bausch Health Companies Inc, Second Amendment Term Loans, 02/01/2027 | 432,450 | 0.2 | ||||||||
| 696,500 | Camelot US Acquisition I Co, Term Loan B-1, 7.595%, (TSFR1M+3.500%), 01/31/2031 | 696,239 | 0.3 | ||||||||
| 239,397 | CHG Healthcare Services Inc, 2024 Term Loan, 8.460%, (TSFR1M+3.614%), 09/29/2028 | 239,974 | 0.1 | ||||||||
| 594,835 | Cimpress PLC, 2024 Refinancing Tranche B-1 Term Loan, 7.845%, (TSFR1M+3.000%), 05/17/2028 | 595,950 | 0.3 | ||||||||
| 1,088,902 | Cotiviti Inc, Initial Floating Rate Term Loans, 8.451%, (TSFR1M+3.250%), 08/27/2025 | 1,088,448 | 0.5 | ||||||||
See Accompanying Notes to Financial Statements
20
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS | |
| as of September 30, 2024 (unaudited) (continued) | ||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Non-cyclical: (continued) | |||||||||||
| 745,537 | Electron Bidco Inc., Initial Term Loan, 7.960%, (TSFR1M+7.960%), 11/01/2028 | $ | 747,285 | 0.4 | |||||||
| 713,213 | Fiesta Purchaser, Inc., Initial Term Loan, 8.845%, (TSFR1M+4.000%), 02/12/2031 | 714,661 | 0.3 | ||||||||
| 268,650 | Financiere Mendel, Addtl Term Fcaility 1 (USD), 8.354%, (TSFR3M+8.354%), 11/13/2030 | 269,434 | 0.1 | ||||||||
| 611,919 | Fleet Midco I Ltd., Facility B2 Term Loan, 7.578%, (TSFR6M+2.750%), 02/21/2031 | 611,919 | 0.3 | ||||||||
| 159,600 | Fugue Finance LLC, Dollar Term B-2 Loan, 8.807%, (TSFR3M+3.750%), 02/26/2031 | 160,772 | 0.1 | ||||||||
| 593,301 | Fugue Finance LLC, Term B USD, 9.057%, (TSFR3M+4.000%), 01/31/2028 | 597,628 | 0.3 | ||||||||
| 597,634 | Garda World Security Corporation, Tenth Additional Term Loan, 8.597%, (TSFR1M+8.597%), 02/01/2029 | 598,288 | 0.3 | ||||||||
| 748,866 | Global Medical Response Inc, 2024 Extended Term Loan, 10.844%, (TSFR1M+3.500%), 10/02/2028 | 745,589 | 0.3 | ||||||||
| 649,814 | Grifols Worldwide Operations USA Inc, Dollar Tranche B Term Loan, 7.402%, (TSFR3M+7.402%), 11/15/2027 | 632,524 | 0.3 | ||||||||
| 606,950 | HomeServe USA Holding Corp., Amendment No.1 Refinancing Term Loan, 7.211%, (TSFR1M+2.500%), 10/21/2030 | 606,476 | 0.3 | ||||||||
| 932,176 | Jazz Financing Lux Sarl, Tranche B-2 Dollar Facility, 7.095%, (TSFR1M+7.095%), 05/05/2028 | 932,240 | 0.4 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Non-cyclical: (continued) | |||||||||||
| 667,555 | Kingpin Intermediate Holdings LLC, 2023 Term Loan B, 8.584%, (TSFR1M+3.500%), 02/08/2028 | $ | 667,555 | 0.3 | |||||||
| 936,194 | Kuehg Corp., Term Loan B, 9.104%, (TSFR3M+4.500%), 06/12/2030 | 940,160 | 0.4 | ||||||||
| 351 | Latham Pool Products Inc, Initial Term Loans, 8.695%, (TSFR1M+8.695%), 02/23/2029 | 341 | 0.0 | ||||||||
| 503,738 | LifePoint Health Inc, 2024 Incremental Term Loan, 8.965%, (TSFR1M+4.000%), 05/14/2031 | 504,367 | 0.2 | ||||||||
| 1,215,976 | Medline Borrower LP, Term Loan B, 7.595%, (TSFR1M+2.750%), 10/23/2028 | 1,217,787 | 0.6 | ||||||||
| 458,817 | Medrisk Inc, First Lien Initial Term Loan, 8.695%, (TSFR1M+8.695%), 05/10/2028 | 459,678 | 0.2 | ||||||||
| 539,849 | Nielsen Consumer Inc, Tranche B-1 Term Loan, 8.710%, (TSFR1M+8.710%), 03/06/2028 | 533,776 | 0.3 | ||||||||
| 880,718 | Organon & Co, Dollar Term Loan, 7.465%, (TSFR1M+7.465%), 05/14/2031 | 880,350 | 0.4 | ||||||||
| 785,864 | Packaging Coordinators Midco Inc., 2024 Replacement Term Loan, 8.095%, (TSFR3M+3.250%), 11/30/2027 | 786,705 | 0.4 | ||||||||
| 943,272 | Pegasus Bidco Bv, 2024-1 Term Dollar Loan, 8.868%, (TSFR3M+3.750%), 07/12/2029 | 946,809 | 0.4 | ||||||||
| 189,397 | Perrigo Investments, LLC, Initial Term B Loan, 7.195%, (TSFR3M+2.250%), 04/20/2029 | 189,160 | 0.1 | ||||||||
| 744,304 | R1 RCM Inc., Initial Term Loan B, 7.845%, (TSFR1M+3.000%), 06/21/2029 | 746,475 | 0.3 | ||||||||
See Accompanying Notes to Financial Statements
21
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Non-cyclical: (continued) | |||||||||||
| 269,325 | Radnet Management Inc, Term Loan B, 7.779%, (TSFR3M+2.500%), 04/23/2031 | $ | 269,893 | 0.1 | |||||||
| 390,000 | Resonetics LLC, Term B Loans, 8.715%, (TSFR1M+3.750%), 06/18/2031 | 390,853 | 0.2 | ||||||||
| 545,873 | RXB Holdings Inc, First Lien Initial Term Loan, 9.469%, (TSFR1M+4.614%), 12/20/2027 | 547,067 | 0.3 | ||||||||
| 43,810 (2) | Ryan LLC, Delayed Draw Term Loan, 8.800%, (TSFR3M+4.500%), 11/14/2030 | 43,371 | 0.0 | ||||||||
| 544,645 | Ryan LLC, Term Loan, 9.856%, (TSFR1M+4.500%), 11/14/2030 | 539,199 | 0.3 | ||||||||
| 246,299 | Seren Bidco AB, Facility B1 Loan, 8.002%, (TSFR6M+8.002%), 11/16/2028 | 246,414 | 0.1 | ||||||||
| 319,200 | Sigma Bidco BV, Facility B 10, 9.302%, (SOFRRATE+4.410%), 01/03/2028 | 318,442 | 0.2 | ||||||||
| 1,140,000 | Sotera Health Holdings LLC, 2024 Refinancing Term Loans, 8.095%, (TSFR1M+3.250%), 05/23/2031 | 1,137,863 | 0.5 | ||||||||
| 649,010 | Spring Education Group Inc, Initial Term Loans, 8.604%, (TSFR3M+4.000%), 10/04/2030 | 654,527 | 0.3 | ||||||||
| 697,063 | Surgery Center Holdings Inc, 2024 Refinancing Term Loans, 7.670%, (TSFR1M+7.670%), 12/19/2030 | 698,334 | 0.3 | ||||||||
| 292,788 | Triton Water Holdings Inc, 2024 Incremental Term Loans, 9.335%, (TSFR3M+4.000%), 03/31/2028 | 292,879 | 0.1 | ||||||||
| 792,302 | Trugreen Limited Partnership, Second Refinancing Term Loan (First Lien), 9.347%, (TSFR1M+4.000%), 11/02/2027 | 768,038 | 0.4 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Consumer, Non-cyclical: (continued) | |||||||||||
| 253,339 | VetStrategy Canada Holdings, Incremental Term Loan B10, 9.393%, (TSFR3M+4.750%), 12/06/2028 | $ | 254,025 | 0.1 | |||||||
| 1,112,213 | Wand NewCo 3 Inc, Initial Term Loan, 7.854%, (TSFR1M+3.250%), 01/30/2031 | 1,112,339 | 0.5 | ||||||||
| 27,926,586 | 13.0 | ||||||||||
| Containers & Glass Products: 1.4% | |||||||||||
| 740,133 | Clydesdale Acquisition Holdings, Inc., Term B Loan, 8.020%, (TSFR1M+3.175%), 04/13/2029 | 737,159 | 0.4 | ||||||||
| 515,830 | Plaze Inc, 2021-1 Term Loan, 8.710%, (TSFR1M+3.750%), 08/03/2026 | 481,656 | 0.2 | ||||||||
| 243,193 | Pretium PKG Holdings Inc, Third Amendment Tranche A Term Loans, 10.248%, (TSFR3M+5.000%), 10/02/2028 | 248,133 | 0.1 | ||||||||
| 670,319 | ProAmpac PG Borrower LLC, 2024 Term Loan B, 9.118%, (TSFR3M+4.000%), 09/15/2028 | 672,624 | 0.3 | ||||||||
| 880,495 | TricorBraun Inc, Term Loan, 8.210%, (TSFR1M+3.250%), 03/03/2028 | 864,903 | 0.4 | ||||||||
| 3,004,475 | 1.4 | ||||||||||
| Diversified: 0.3% | |||||||||||
| 665,400 | First Eagle Holdings Inc, Tranche B-2 Term Loans, 8.335%, (TSFR3M+3.000%), 02/22/2029 | 660,202 | 0.3 | ||||||||
| Electronics/Electrical: 1.1% | |||||||||||
| 822,767 | Chariot Buyer LLC, Tranche B, 8.600%, (TSFR1M+3.250%), 11/03/2028 | 820,517 | 0.4 | ||||||||
| 365,708 | Creation Technologies Inc, Initial Term Loan, 11.080%, (TSFR3M+5.500%), 10/05/2028 | 356,565 | 0.2 | ||||||||
See Accompanying Notes to Financial Statements
22
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Electronics/Electrical: (continued) | |||||||||||
| 487,392 | DG Investment Intermediate Holdings 2 Inc, First Lien Closing Date Initial Term Loan, 9.111%, (TSFR1M+3.864%), 03/31/2028 | $ | 486,630 | 0.2 | |||||||
| 325,000 | DG Investment Intermediate Holdings 2 Inc, Second Lien Initial Term Loan, 11.710%, (TSFR1M+6.864%), 03/30/2029 | 306,313 | 0.1 | ||||||||
| 352,392 | VC GB Holdings I Corp, First Lien Initial Term Loan, 8.365%, (TSFR3M+3.262%), 07/21/2028 | 351,975 | 0.2 | ||||||||
| 2,322,000 | 1.1 | ||||||||||
| Energy: 3.0% | |||||||||||
| 573,680 | Brazos Delaware II LLC, Term Loan B, 8.255%, (TSFR6M+3.500%), 02/11/2030 | 574,899 | 0.3 | ||||||||
| 310,000 | CPPIB OVM Member U.S. LLC, Initial Term Loans, 7.854%, (TSFR3M+3.250%), 08/07/2031 | 310,969 | 0.1 | ||||||||
| 439,527 | GIP III Stetson I LP, Initial Term Loan, 8.747%, (TSFR1M+4.250%), 10/31/2028 | 439,801 | 0.2 | ||||||||
| 676,365 | GIP Pilot Acquisition Partners, L.P., 2024 Term Loan B, 7.818%, (TSFR3M+2.500%), 10/04/2030 | 678,479 | 0.3 | ||||||||
| 583,538 | Goodnight Water Solutions Holdings, LLC, Initial Term Loans, 10.095%, (TSFR3M+5.250%), 06/04/2029 | 584,085 | 0.3 | ||||||||
| 425,000 | NGP XI Midstream Holdings LLC, Initial Term Loan, 8.604%, (TSFR2M+4.000%), 07/25/2031 | 425,266 | 0.2 | ||||||||
| 497,491 | NorthRiver Midstream Finance LP, Term Loan (First Lien), 7.832%, (TSFR3M+2.500%), 08/16/2030 | 498,078 | 0.2 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Energy: (continued) | |||||||||||
| 748,332 | Oryx Midstream Services Permian Basin LLC, 2024 Refinancing Term Loan, 8.225%, (TSFR1M+3.114%), 10/05/2028 | $ | 749,368 | 0.3 | |||||||
| 470,000 (1) | Rockpoint Gas Storage Partners LP, Tlb, 09/30/2031 | 468,825 | 0.2 | ||||||||
| 196,500 | UGI Energy Services LLC, Refinancing Term Loan, 7.345%, (TSFR1M+7.345%), 02/22/2030 | 196,950 | 0.1 | ||||||||
| 245,000 | US Silica Company, Term B Loan, 9.345%, (TSFR1M+9.345%), 07/18/2031 | 239,921 | 0.1 | ||||||||
| 600,000 | WaterBridge Midstream Operating LLC, Term Loan B, 9.393%, (TSFR3M+4.750%), 06/22/2026 | 580,750 | 0.3 | ||||||||
| 545,000 | Waterbridge NDB Operating LLC(f/k/a Waterbridge Midstream Operating LLC), Initial Term Loan, 9.603%, (TSFR3M+9.603%), 05/10/2029 | 544,887 | 0.3 | ||||||||
| 272,371 (1) | Whitewater Whistler Holdings, LLC, Tranche B, 02/15/2030 | 272,087 | 0.1 | ||||||||
| 6,564,365 | 3.0 | ||||||||||
| Financial: 11.2% | |||||||||||
| 205,000 | AAL Delaware Holdco Inc, Initial Term Loan, 8.345%, (TSFR1M+3.500%), 07/30/2031 | 206,089 | 0.1 | ||||||||
| 1,613,063 | Acrisure LLC, 2024 Refinancing Term Loan, 8.211%, (TSFR1M+8.211%), 11/06/2030 | 1,600,360 | 0.7 | ||||||||
| 1,066,766 | Alliant Holdings Intermediate LLC, New Term Loan B6, 7.965%, (TSFR1M+7.965%), 11/06/2031 | 1,062,069 | 0.5 | ||||||||
| 242,714 | Allspring Buyer LLC, Term Loan, 8.137%, (TSFR3M+8.137%), 11/01/2028 | 242,107 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
23
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Financial: (continued) | |||||||||||
| 550,000 | Ardonagh Group Finco Pty Ltd, Syndicated Facility B (USD) Loan, 8.535%, (TSFR6M+8.535%), 02/27/2031 | $ | 551,203 | 0.3 | |||||||
| 871,826 | Aretec Group Inc, Term B-2 Loan, 8.845%, (TSFR1M+8.845%), 08/09/2030 | 855,419 | 0.4 | ||||||||
| 1,322,953 | AssuredPartners Inc., 2024 Term Loan, 8.345%, (TSFR1M+3.500%), 02/14/2031 | 1,323,248 | 0.6 | ||||||||
| 377,208 (1) | Asurion LLC, 09/19/2030 | 371,392 | 0.2 | ||||||||
| 306,332 | Asurion LLC, New B-9 Term Loan, 8.611%, (TSFR1M+8.611%), 07/30/2027 | 302,339 | 0.1 | ||||||||
| 219,450 | Blackhawk Network Holdings Inc., TERM LOAN B, 9.845%, (TSFR1M+9.845%), 03/12/2029 | 220,662 | 0.1 | ||||||||
| 1,491,702 | Broadstreet Partners Inc, 2024 Term B Loans, 8.095%, (TSFR3M+2.500%), 06/16/2031 | 1,487,413 | 0.7 | ||||||||
| 722,650 | Castlelake Aviation One Designated Activity Company, Initial Term Loan, 7.447%, (TSFR3M+2.500%), | 725,247 | 0.3 | ||||||||
| 723,188 | 10/22/2026 Cushman & Wakefield US Borrower LLC, 2024-1 Term Loan, 8.595%, (TSFR1M+3.750%), 01/31/2030 | 724,996 | 0.3 | ||||||||
| 245,000 | Edelman Financial Engines Center LLC (The), 2024 Refinancing Term Loans, 10.095%, (TSFR1M+5.250%), 10/20/2028 | 245,026 | 0.1 | ||||||||
| 964,068 | Edelman Financial Engines Center LLC (The), Term Loan B, 8.095%, (TSFR1M+8.095%), 04/07/2028 | 963,586 | 0.5 | ||||||||
| 101,835 (1)(2) | Focus Financial Partners LLC, 2024 Delayed Draw Term Loan, 08/08/2031 | 101,629 | 0.0 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Financial: (continued) | |||||||||||
| 1,896,329 (1) | Focus Financial Partners LLC, Initial Term Loan, 08/08/2031 | $ | 1,892,478 | 0.9 | |||||||
| 320,000 | Grant Thornton Advisors LLC, Initial Term Loan, 8.095%, (TSFR1M+3.250%), 06/02/2031 | 320,840 | 0.2 | ||||||||
| 584,136 | Guardian US Holdco, Initial Term Loan, 8.830%, (TSFR3M+3.500%), 01/31/2030 | 581,489 | 0.3 | ||||||||
| 441,314 | HighTower Holding LLC, 2024 Term Loan B, 8.748%, (TSFR3M+3.500%), 04/21/2028 | 442,072 | 0.2 | ||||||||
| 1,113,160 | HUB International Ltd, Facility 2024-1 Incremental Term Loans, 8.255%, (TSFR2M+3.000%), 06/20/2030 | 1,112,813 | 0.5 | ||||||||
| 957,246 | Jane Street Group LLC, 2021 Term Loan, 7.861%, (TSFR1M+2.500%), 01/26/2028 | 957,246 | 0.4 | ||||||||
| 658,401 | Mercury Borrower Inc, First Lien Initial Term Loan, 8.460%, (US0006M+3.500%), 08/02/2028 | 659,224 | 0.3 | ||||||||
| 962,478 | Nuvei Technologies Corp., Initial Term Loan, 7.955%, (TSFR1M+3.000%), 12/19/2030 | 965,125 | 0.5 | ||||||||
| 892,763 | OneDigital Borrower LLC, Term Loan (First Lien), 8.095%, (TSFR1M+3.250%), 07/02/2031 | 886,067 | 0.4 | ||||||||
| 790,558 | Osaic Holdings Inc (f/k/a Advisor Group Holdings Inc), Term B-3 Loan, 9.247%, (TSFR1M+4.000%), 08/17/2028 | 783,311 | 0.4 | ||||||||
| 562,027 | Overdrive, Inc., New First Lien Term Loan, 9.170%, (TSFR1M+4.250%), 12/15/2028 | 564,837 | 0.3 | ||||||||
| 217,209 | RHP Hotel Properties LP, Incremental Tranche B Term Loan, 7.095%, (TSFR1M+7.095%), 05/18/2030 | 217,697 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
24
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Financial: (continued) | |||||||||||
| 782,644 | Ryan Specialty Group LLC, 2024 Term Loan B, 7.095%, (TSFR1M+7.095%), 09/11/2031 | $ | 782,644 | 0.4 | |||||||
| 675,000 | Truist Insurance Holdings, LLC, Initial Term Loans, 7.854%, (TSFR3M+3.250%), 05/06/2031 | 675,140 | 0.3 | ||||||||
| 195,000 | Truist Insurance Holdings, LLC, Initial Term Loans (Second Lien), 9.354%, (TSFR3M+4.750%), 03/08/2032 | 198,595 | 0.1 | ||||||||
| 1,164,382 | USI Inc, 2024 Term Loans Facility, 7.354%, (TSFR3M+7.354%), 09/27/2030 | 1,162,685 | 0.5 | ||||||||
| 485,000 | VFH Parent LLC, Term B-1 Loan, 7.595%, (TSFR1M+7.595%), 06/13/2031 | 484,798 | 0.2 | ||||||||
| 339,803 | Walker & Dunlop Inc, Initial Term Loan, 7.195%, (TSFR1M+7.195%), 12/16/2028 | 341,077 | 0.2 | ||||||||
| 24,010,923 | 11.2 | ||||||||||
| Food Products: 1.6% | |||||||||||
| 287,267 | 8th Avenue Food & Provisions Inc, 2021 Incremental Term Loan, 9.710%, (TSFR1M+4.750%), 10/01/2025 | 279,606 | 0.1 | ||||||||
| 424,689 | 8th Avenue Food & Provisions Inc, First Lien Term Loan, 8.710%, (TSFR1M+3.750%), 10/01/2025 | 412,944 | 0.2 | ||||||||
| 596,925 | BCPE North Star US Holdco 2 Inc,, First Lien Initial Term Loan, 11.250%, (TSFR1M+4.114%), 06/09/2028 | 566,705 | 0.3 | ||||||||
| 821,406 | CHG PPC Parent LLC, 2021-1 US Term Loan, 8.361%, (TSFR1M+3.114%), 12/08/2028 | 818,326 | 0.4 | ||||||||
| 745,867 | Chobani LLC, 2023 Additional Term Loan, 8.595%, (TSFR1M+3.750%), 10/25/2027 | 748,897 | 0.3 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Food Products: (continued) | |||||||||||
| 722,514 | Primary Products Finance LLC, 2024 Replacement Term B Loan, 8.971%, (TSFR3M+3.650%), 04/02/2029 | $ | 723,587 | 0.3 | |||||||
| 3,550,065 | 1.6 | ||||||||||
| Health Care: 2.5% | |||||||||||
| 573,385 | Amneal Pharmaceuticals LLC, Initial Term Loan, 8.460%, (TSFR1M+3.614%), 05/04/2025 | 581,269 | 0.3 | ||||||||
| 1,200,800 | AthenaHealth Group Inc, Initial Term Loan, 8.497%, (TSFR1M+3.250%), 02/15/2029 | 1,195,171 | 0.6 | ||||||||
| 498,058 | CHG Healthcare Services Inc., Tranche B1, 8.443%, (US0006M+3.250%), 09/29/2028 | 498,773 | 0.2 | ||||||||
| 290,000 | Concentra Health Services, Inc., Term Loan B, 7.095%, (TSFR1M+2.250%), 07/28/2031 | 289,819 | 0.1 | ||||||||
| 481,242 | Gloves Buyer Inc, First Lien Initial Term Loan, 9.361%, (TSFR1M+4.114%), 12/29/2027 | 480,039 | 0.2 | ||||||||
| 13,863 | National Mentor Holdings Inc, First Lien Initial Term C Loan, 8.454%, (TSFR3M+3.850%), 03/02/2028 | 13,369 | 0.0 | ||||||||
| 483,631 | National Mentor Holdings Inc, First Lien Initial Term Loan, 9.097%, (TSFR1M+3.850%), 03/02/2028 | 466,402 | 0.2 | ||||||||
| 753,594 (1) | Pacific Dental Services LLC, 03/15/2031 | 753,829 | 0.3 | ||||||||
| 1,012,239 | Phoenix Guarantor Inc, Tranche B-4 Term Loan, 8.095%, (TSFR1M+3.250%), 02/21/2031 | 1,010,847 | 0.5 | ||||||||
| 153,788 | Select Medical Corp, Tranche B-1 Term loan, 8.247%, (TSFR1M+3.000%), 03/08/2027 | 154,589 | 0.1 | ||||||||
| 5,444,107 | 2.5 | ||||||||||
See Accompanying Notes to Financial Statements
25
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Home Furnishings: 0.3% | |||||||||||
| 671,077 | Apx Group Inc, Initial Term Loan, 9.750%, (PRIME+1.750%), 07/10/2028 | $ | 672,149 | 0.3 | |||||||
| Industrial: 12.5% | |||||||||||
| 910,411 | AlixPartners LLP, Tranche B, 7.717%, (TSFR1M+2.500%), 02/04/2028 | 912,561 | 0.4 | ||||||||
| 680,000 | Alliance Laundry Systems LLC, Initial Term B Loans, 8.345%, (TSFR3M+3.500%), 08/09/2031 | 682,064 | 0.3 | ||||||||
| 904,682 | Allied Universal Holdco LLC, Term Loan Usd, 8.695%, (TSFR1M+3.750%), 05/15/2028 | 896,935 | 0.4 | ||||||||
| 1,144,539 | Altium Packaging LLC, 2024 Refinancing Term Loan, 7.345%, (TSFR1M+2.500%), 06/05/2031 | 1,142,393 | 0.5 | ||||||||
| 59,700 | Anticimex Inc, Facility B6, 8.252%, (SOFRRATE+3.400%), 11/16/2028 | 59,787 | 0.0 | ||||||||
| 240,000 (1) | Arcosa, Inc., Term Loan, 08/12/2031 | 240,300 | 0.1 | ||||||||
| 873,544 | Belfor Holdings Inc, Initial Tranche B-1 Term Loan, 9.000%, (TSFR1M+3.750%), 11/01/2030 | 878,403 | 0.4 | ||||||||
| 284 | Bombardier Recreational Products Inc, 2024 Extended Term Loan, 7.595%, (TSFR1M+2.750%), 01/22/2031 | 284 | 0.0 | ||||||||
| 358,171 | Brown Group Holding LLC, Incremental Term B-2 Facility, 7.807%, (TSFR3M+2.750%), 07/01/2031 | 357,788 | 0.2 | ||||||||
| 99,500 | Chariot Buyer LLC, First Lien Amendment No.2 Term Loan, 8.345%, (TSFR1M+3.500%), 11/03/2028 | 99,492 | 0.0 | ||||||||
| 569,500 | Chart Industries, Inc., 2024 Term Loan B, 7.825%, (TSFR3M+7.825%), 03/18/2030 | 569,144 | 0.3 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Industrial: (continued) | |||||||||||
| 578,149 | Clark Equipment Company, 2022 Term Loan B, 7.948%, (TSFR3M+2.500%), 04/20/2029 | $ | 578,992 | 0.3 | |||||||
| 728,289 | Coherent Corp (f/k/a II-VI Incorporated), Term Loan B-1, 7.345%, (TSFR1M+7.345%), 07/02/2029 | 729,564 | 0.3 | ||||||||
| 495,446 | Conair Holdings LLC, First Lien Initial Term Loan, 8.710%, (US0006M+3.750%), 05/17/2028 | 455,707 | 0.2 | ||||||||
| 160,000 | Cornerstone Building Brands Inc, Tranche C Term Loans, 9.597%, (TSFR1M+9.597%), 05/15/2031 | 158,200 | 0.1 | ||||||||
| 958,234 | EMRLD Borrower LP, Initial Term B Loan, 7.557%, (TSFR3M+2.500%), 05/31/2030 | 957,486 | 0.4 | ||||||||
| 788,517 | Filtration Group Corporation, 2021 Incremental Term Loan, 8.861%, (TSFR1M+3.500%), 10/21/2028 | 789,551 | 0.4 | ||||||||
| 817,296 | Ingram Micro Inc, 2024 Term Loan B, 7.564%, (TSFR3M+7.564%), 09/18/2031 | 817,807 | 0.4 | ||||||||
| 696,461 | Kenan Advantage Group Inc (The), Term Loan B4, 8.095%, (TSFR1M+3.250%), 01/25/2029 | 696,461 | 0.3 | ||||||||
| 296,882 | Lsf11 Trinity Bidco, Inc., 2024 Term Loan B, 8.420%, (TSFR1M+3.500%), 06/14/2030 | 297,438 | 0.1 | ||||||||
| 629,169 | Madison Iaq LLC, Initial Term Loan, 7.889%, (TSFR6M+2.750%), 06/21/2028 | 629,598 | 0.3 | ||||||||
| 165,000 (1) | Madison Safety & Flow LLC, Tlb, 09/30/2031 | 165,412 | 0.1 | ||||||||
| 254,363 | MI Windows and Doors LLC, 2024 Incremental Term Loans, 8.345%, (TSFR1M+3.500%), 03/28/2031 | 255,316 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
26
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Industrial: (continued) | |||||||||||
| 232,650 | Minimax Viking GmbH - MX Holdings US Inc, New B1D Facility, 4.960%, (TSFR1M+4.960%), 07/31/2028 | $ | 233,716 | 0.1 | |||||||
| 266,467 | Ncr Atleos, LLC, Term B Loan, 10.102%, (TSFR3M+4.850%), 03/27/2029 | 268,841 | 0.1 | ||||||||
| 463,838 | Northstar Group Services Inc, Term B Loans, 10.014%, (TSFR6M+4.750%), 05/08/2030 | 466,519 | 0.2 | ||||||||
| 335,000 (1) | Nvent Electric Public Limited Company, Term Loan B, 09/30/2031 | 335,105 | 0.2 | ||||||||
| 788,099 | Oscar AcquisitionCo LLC, Term B Loan, 8.854%, (TSFR3M+4.250%), 04/29/2029 | 779,726 | 0.4 | ||||||||
| 470,000 | Ovation Parent Inc, Initial Term Loan, 8.104%, (TSFR3M+8.104%), 04/21/2031 | 472,497 | 0.2 | ||||||||
| 950,670 | Pactiv Evergreen Group Holdings Inc., Tranch B-4 U.S. Term Loans, 7.747%, (TSFR1M+2.500%), 09/24/2028 | 951,562 | 0.4 | ||||||||
| 633,024 | Pre Paid Legal Services Inc, First Lien Initial Term Loans, 8.710%, (TSFR1M+3.750%), 12/15/2028 | 633,244 | 0.3 | ||||||||
| 230,283 | Pretium PKG Holdings Inc, Initial Third Amendment Tranche A-1 Term Loan (First Lien), 9.848%, (TSFR3M+4.600%), 10/02/2028 | 185,320 | 0.1 | ||||||||
| 1,016,942 | Pro Mach Group Inc, Refinancing Term Loan, 8.345%, (TSFR1M+8.345%), 08/31/2028 | 1,022,027 | 0.5 | ||||||||
| 873,874 | Quikrete Holdings Inc, Term Loan B (2029), 7.095%, (TSFR1M+2.250%), 03/19/2029 | 875,149 | 0.4 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Industrial: (continued) | |||||||||||
| 645,394 | Refficiency Holdings LLC, 2021 Initial Term Loan, 8.445%, (TSFR1M+8.445%), 12/16/2027 | $ | 649,025 | 0.3 | |||||||
| 663,560 | Service Logic Acquisition Inc, 2024 Term Loan B, 8.314%, (TSFR1M+8.314%), 10/29/2027 | 666,048 | 0.3 | ||||||||
| 345,400 | Smyrna Ready Mix Concrete LLC, New Term Loan B, 8.354%, (TSFR1M+3.500%), 04/02/2029 | 347,991 | 0.2 | ||||||||
| 656,348 | SPX Flow, Inc., Cov- Lite Tlb, 8.345%, (TSFR1M+3.500%), 04/05/2029 | 657,914 | 0.3 | ||||||||
| 590,000 (1) | Third Coast Infrastructure, LLC, Term Loan B, 09/30/2030 | 587,050 | 0.3 | ||||||||
| 966,753 | TK Elevator Midco Gmbh, Facility (USD), 8.588%, (TSFR6M+3.500%), 04/30/2030 | 970,110 | 0.5 | ||||||||
| 449,330 | Transdigm Inc, Term Loan I, 7.354%, (TSFR3M+7.354%), 08/24/2028 | 449,680 | 0.2 | ||||||||
| 417,903 | Transdigm Inc, Tranche J Term Loan, 7.104%, (TSFR3M+7.104%), 02/28/2031 | 416,739 | 0.2 | ||||||||
| 407,950 | Transdigm Inc, Tranche K Term Loans, 7.354%, (TSFR3M+2.750%), 03/22/2030 | 408,375 | 0.2 | ||||||||
| 215,000 | Transdigm Inc, Tranche L Term Loans, 7.320%, (TSFR3M+7.320%), 01/05/2032 | 214,362 | 0.1 | ||||||||
| 852,298 | Trident TPI Holdings Inc, Tranche B-6 Term Loan, 8.604%, (TSFR3M+4.000%), 09/15/2028 | 854,477 | 0.4 | ||||||||
| 181,088 | Tutor Perini Corporation, Term Loan, 9.710%, (TSFR1M+4.750%), 08/18/2027 | 181,088 | 0.1 | ||||||||
| 593,272 | Vertex Aerospace Services Corp, 2023 Term Loan, 7.596%, (TSFR1M+2.750%), 12/06/2028 | 593,643 | 0.3 | ||||||||
See Accompanying Notes to Financial Statements
27
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Industrial: (continued) | |||||||||||
| 599,541 | Watlow Electric Manufacturing Company, Term Loan B, 9.264%, (TSFR3M+4.012%), 03/02/2028 | $ | 602,014 | 0.3 | |||||||
| 680,000 | Wilsonart LLC, Initial Term Loans, 8.854%, (TSFR1M+4.250%), 07/25/2031 | 673,412 | 0.3 | ||||||||
| 26,866,317 | 12.5 | ||||||||||
| Insurance: 1.1% | |||||||||||
| 1,014,101 | Ima Financial Group, Inc., Initial Term Loan, 8.095%, (TSFR1M+3.750%), 10/16/2028 | 1,013,257 | 0.4 | ||||||||
| 1,417,312 | Sedgwick Claims Management Services Inc, 2024 Term Loan, 8.250%, (TSFR3M+3.750%), 07/31/2031 | 1,416,426 | 0.7 | ||||||||
| 2,429,683 | 1.1 | ||||||||||
| Leisure Good/Activities/Movies: 1.1% | |||||||||||
| 762,013 | 24 Hour Fitness Worldwide Inc, Term Loan, 14.319%, (TSFR3M+2.000%), 09/29/2025 | 666,761 | 0.3 | ||||||||
| 716,393 | Cinemark USA Inc, Term Loan, 8.095%, (TSFR1M+3.250%), 05/24/2030 | 718,184 | 0.4 | ||||||||
| 927,353 | Playtika Holding Corp, Tranche B, 7.943%, (TSFR1M+2.750%), 03/13/2028 | 922,347 | 0.4 | ||||||||
| 2,307,292 | 1.1 | ||||||||||
| Lodging & Casinos: 1.1% | |||||||||||
| 1,050,007 | Fertitta Entertainment LLC, Initial B Term Loan, 8.847%, (TSFR1M+3.750%), 01/29/2029 | 1,047,827 | 0.5 | ||||||||
| 605,369 | Flynn Restaurant Group LP, 2021 New Term Loan, 9.210%, (TSFR1M+4.364%), 12/01/2028 | 608,396 | 0.3 | ||||||||
| 693,041 | Golden Entertainment Inc, Term B-1 Loan, 6.854%, (TSFR1M+2.250%), 05/28/2030 | 692,175 | 0.3 | ||||||||
| 2,348,398 | 1.1 | ||||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Oil & Gas: 0.5% | |||||||||||
| 468,537 | Medallion Midland Acquisition LLC, First Lient Term Loan, 8.314%, (TSFR3M+3.500%), 10/18/2028 | $ | 469,884 | 0.2 | |||||||
| 660,381 | TransMontaigne Operating Company LP, Tranche B Term Loan, 8.460%, (TSFR1M+3.614%), 11/17/2028 | 662,239 | 0.3 | ||||||||
| 1,132,123 | 0.5 | ||||||||||
| Pipelines: 0.2% | |||||||||||
| 415,000 | Whitewater DBR Holdco LLC, Initial Term Loan, 7.354%, (TSFR3M+2.750%), 03/03/2031 | 415,259 | 0.2 | ||||||||
| Radio & Television: 1.0% | |||||||||||
| 793,098 | DirectV Financing LLC, Closing Date Term Loan, 10.360%, (TSFR1M+5.114%), 08/02/2027 | 794,502 | 0.4 | ||||||||
| 493,697 | Gray Television Inc, Cov-Lite Tld, 8.315%, (TSFR1M+3.113%), 12/01/2028 | 456,901 | 0.2 | ||||||||
| 940,915 | Houghton Mifflin Harcourt Company, First Lien Term B Loan, 10.195%, (TSFR1M+5.350%), 04/09/2029 | 917,686 | 0.4 | ||||||||
| 2,169,089 | 1.0 | ||||||||||
| Retailers (Except Food & Drug): 1.2% | |||||||||||
| 1,221,521 | Great Outdoors Group LLC, Term B-2 Loan, 9.110%, (TSFR1M+3.864%), 03/06/2028 | 1,222,538 | 0.6 | ||||||||
| 151,427 | Leslie's Poolmart Inc, Initial Term Loan, 7.710%, (TSFR1M+2.750%), 03/09/2028 | 147,121 | 0.1 | ||||||||
| 296,779 | Michaels Companies Inc (The), Term B Loan, 9.115%, (TSFR3M+4.512%), 04/15/2028 | 238,577 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
28
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Retailers (Except Food & Drug): (continued) | |||||||||||
| 945,473 | Petco Health and Wellness Company Inc, First Lien Initial Term Loan, 8.115%, (TSFR3M+3.512%), 03/06/2028 | 900,695 | 0.4 | ||||||||
| 2,508,931 | 1.2 | ||||||||||
| Technology: 14.8% | |||||||||||
| 794,683 | Adeia Inc, 3rd Amendment Term Loan B, 7.961%, (TSFR1M+7.961%), 06/08/2028 | 796,173 | 0.4 | ||||||||
| 780,000 (1) | Amazon Holdco Inc., Tlb, 07/30/2031 | 778,538 | 0.4 | ||||||||
| 549,997 | AMC Entertainment, 01/04/2029 | 550,426 | 0.3 | ||||||||
| 195,000 | Applied Systems Inc, Initial Term Loan (2024) (Second Lien), 9.854%, (TSFR3M+5.250%), 02/23/2032 | 201,195 | 0.1 | ||||||||
| 713,980 | Applied Systems Inc, Tranche B-1 Term Loan, 7.604%, (TSFR1M+3.000%), 02/24/2031 | 715,603 | 0.3 | ||||||||
| 935,421 | Applovin Corporation, 10Th Amendment Term Loan, 7.345%, (TSFR1M+2.500%), 10/25/2028 | 937,175 | 0.4 | ||||||||
| 361,979 | Applovin Corporation, 2030 Initial Term Loan, 7.345%, (TSFR1M+7.345%), 08/19/2030 | 362,234 | 0.2 | ||||||||
| 530,000 | Asurion LLC, Second Lien Term Loan B3, 10.210%, (TSFR1M+5.364%), 01/31/2028 | 499,052 | 0.2 | ||||||||
| 860,000 | BMC Software (Boxer/ Bladelogic), 2031 New First Lien Dollar Term Loan, 9.005%, (TSFR3M+9.005%), 07/30/2031 | 858,886 | 0.4 | ||||||||
| 656,233 | Capstone Borrower Inc, Term Loan B, 7.854%, (TSFR3M+7.854%), 06/17/2030 | 657,258 | 0.3 | ||||||||
| 198,977 | Cast & Crew Payroll LLC, First Lien Incremental Facility No 2 Incremental Term Loan, 8.595%, (TSFR1M+8.595%), 12/29/2028 | 199,634 | 0.1 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Technology: (continued) | |||||||||||
| 1,163,287 | Cloud Software Group Inc, Term Loan B, 9.335%, (TSFR3M+4.000%), 03/30/2029 | $ | 1,159,684 | 0.5 | |||||||
| 642,333 | Connectwise, LLC, Initial Term Loan, 9.096%, (TSFR3M+3.762%), 09/29/2028 | 642,654 | 0.3 | ||||||||
| 832,860 | Constant Contact Inc, First Lien Initial Term Loan, 9.566%, (TSFR3M+4.262%), 02/10/2028 | 807,874 | 0.4 | ||||||||
| 520,000 (1) | Darktrace Plc, Term Loan, 07/02/2031 | 512,362 | 0.2 | ||||||||
| 605,000 (1) | Dragon Buyer, Inc., Tlb, 09/30/2031 | 602,883 | 0.3 | ||||||||
| 705,827 | Dun & Bradstreet Corporation (The), Incremental Term B-2, 7.605%, (TSFR1M+2.750%), 01/18/2029 | 706,213 | 0.3 | ||||||||
| 622,708 | ECI Macola / Max Holding LLC, 2024 Extending Term Loan, 9.085%, (TSFR3M+3.750%), 05/31/2030 | 624,988 | 0.3 | ||||||||
| 430,000 (1) | Envestnet, Inc., Term Loan, 09/19/2031 | 428,925 | 0.2 | ||||||||
| 147,979 (2) | Epicor Software | ||||||||||
| Corporation, 2024 Delayed Draw Term Loan, 8.830%, (TSFR1M+3.500%), 05/30/2031 | 148,256 | 0.1 | |||||||||
| 1,016,190 | Epicor Software Corporation, Term E Loans, 8.095%, (TSFR1M+3.250%), 05/30/2031 | 1,018,096 | 0.5 | ||||||||
| 425,000 | Fortress Intermediate 3 Inc., Initial Term Loan, 8.595%, (TSFR1M+3.750%), 06/27/2031 | 424,601 | 0.2 | ||||||||
| 660,090 | Gainwell Acquisition Corp, Term B Loan, 8.704%, (US0006M+4.000%), 10/01/2027 | 629,767 | 0.3 | ||||||||
See Accompanying Notes to Financial Statements
29
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Technology: (continued) | |||||||||||
| 866,769 | Genesys Cloud Services Holdings II LLC (f/k/a Greeneden US Holdings II LLC), 2024 Incremental No. 2 Dollar Term Loan, 8.345%, (TSFR1M+8.345%), 12/01/2027 | $ | 870,019 | 0.4 | |||||||
| 466,610 | Helios Software Holdings Inc, 2024 Dollar Term Loan, 8.354%, (TSFR3M+8.354%), 07/15/2030 | 465,054 | 0.2 | ||||||||
| 323,375 | Imagine Learning LLC, 2024 Term Loan, 8.345%, (TSFR1M+3.500%), 12/21/2029 | 323,635 | 0.1 | ||||||||
| 905,000 | Indy Us Bidco, LLC, Ninth Amend Dollar Term Loan, 9.595%, (TSFR1M+4.750%), 03/06/2028 | 903,491 | 0.4 | ||||||||
| 645,213 | Informatica LLC, 2024 Term Loan B, 7.095%, (TSFR1M+7.095%), 10/27/2028 | 645,347 | 0.3 | ||||||||
| 380,000 (1) | Instructure Holdings Inc, Term Loan, 09/12/2031 | 377,546 | 0.2 | ||||||||
| 243,775 | Lorca Telecom Bidco S.A., Facility B4 Loan, 8.104%, (TSFR3M+3.500%), 03/25/2031 | 244,384 | 0.1 | ||||||||
| 934,587 | Mcafee Corp, Tranche B-1 Term Loan, 8.451%, (TSFR1M+8.451%), 03/01/2029 | 932,324 | 0.4 | ||||||||
| 365,000 | MH Sub I LLC, Second Lien Term Loan, 11.502%, (TSFR1M+6.250%), 09/15/2025 | 359,183 | 0.2 | ||||||||
| 902,842 | Mitchell International, Inc., Initial Term Loan, 8.095%, (TSFR1M+8.095%), 06/17/2031 | 890,788 | 0.4 | ||||||||
| 988,349 | MKS Instruments Inc, 2024-1 Dollar Term Loan B, 7.170%, (TSFR1M+7.170%), 08/17/2029 | 989,708 | 0.5 | ||||||||
| 450,000 | Modena Buyer LLC, Initial Term Loan, 9.104%, (TSFR3M+9.104%), 07/01/2031 | 431,719 | 0.2 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Technology: (continued) | |||||||||||
| 415,000 | Mosel Bidco (SE), Facility B (Usd) Loan, 9.104%, (TSFR3M+4.750%), 09/16/2030 | $ | 417,594 | 0.2 | |||||||
| 735,000 (1) | Neon Maple Purchaser Inc, Tranche B-1 Term Loan, 01/01/2040 | 727,650 | 0.3 | ||||||||
| 1,002,788 | Project Boost Purchaser LLC, 1L Intial Term Loan, 8.786%, (TSFR3M+3.500%), 07/16/2031 | 1,003,729 | 0.5 | ||||||||
| 721,375 | Project Ruby Ultimate Parent Corp, Incremental Term B-3 Loan, 8.460%, (TSFR1M+3.614%), 03/10/2028 | 722,187 | 0.3 | ||||||||
| 470,940 | Rackspace Finance, LLC, First Lien Term Loan, 7.982%, (TSFR1M+3.500%), 05/15/2028 | 263,334 | 0.1 | ||||||||
| 795,897 | RealPage Inc, First Lien Initial Term Loan, 7.960%, (TSFR1M+3.114%), 04/24/2028 | 773,513 | 0.4 | ||||||||
| 543,888 | Renaissance Holding Corp, Covenant- Lite First-Lien Term Loan, 9.095%, (TSFR1M+4.250%), 04/05/2030 | 544,290 | 0.2 | ||||||||
| 592,010 | Rocket Software Inc, Term Loan, 9.595%, (TSFR1M+4.750%), 11/28/2028 | 593,268 | 0.3 | ||||||||
| 346,251 | Skillsoft Finance II Inc, Initial Term Loan, 10.219%, (TSFR1M+5.364%), 07/14/2028 | 285,512 | 0.1 | ||||||||
| 705,227 | Skopima Consilio (FKA GI Consilio), First Lien Initial Term Loan, 9.361%, (TSFR1M+4.000%), 05/12/2028 | 705,062 | 0.3 | ||||||||
| 616,900 | SonicWall US Holdings Inc, 2023 Term Loan, 9.604%, (TSFR3M+5.000%), 05/18/2028 | 609,832 | 0.3 | ||||||||
| 360,000 (1) | Thunder Genera, Tranche B, 09/29/2031 | 360,225 | 0.2 | ||||||||
See Accompanying Notes to Financial Statements
30
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Technology: (continued) | |||||||||||
| 1,243,669 | UKG Inc, Term Loan B, 8.555%, (TSFR3M+3.500%), 02/10/2031 | $ | 1,245,164 | 0.6 | |||||||
| 242,866 | Ultra Clean Holdings Inc, Term Loan First Lien, 8.345%, (TSFR1M+8.345%), 02/27/2028 | 244,181 | 0.1 | ||||||||
| 396,358 | Virtusa Corporation, Term B-2 Loan, 8.095%, (TSFR1M+8.095%), 02/15/2029 | 396,729 | 0.2 | ||||||||
| 369,075 | VS Buyer LLC, 2024 Refinancing Initial Term Loan, 8.347%, (TSFR1M+3.250%), 04/14/2031 | 369,844 | 0.2 | ||||||||
| 530,351 | Waystar Technologies Inc, Term Loan B, 7.595%, (TSFR1M+2.750%), 10/22/2029 | 532,340 | 0.2 | ||||||||
| 363,181 | World Wide Technology Holding Co LLC, 2024 Refinancing Term Loan, 7.815%, (TSFR1M+7.815%), 03/01/2030 | 364,543 | 0.2 | ||||||||
| 31,854,672 | 14.8 | ||||||||||
| Telecommunications: 0.9% | |||||||||||
| 425,225 | Cablevision Lightpath LLC, Initial Term Loan, 8.461%, (TSFR1M+3.250%), 11/30/2027 | 425,119 | 0.2 | ||||||||
| 915,933 | CCI Buyer Inc, First Lien Initial Term Loan, 8.604%, (TSFR3M+4.000%), 12/17/2027 | 915,818 | 0.4 | ||||||||
| 750,000 | Zayo Group Holdings Inc, Initial Dollar Term Loan, 8.217%, (TSFR1M+3.000%), 03/09/2027 | 686,328 | 0.3 | ||||||||
| 2,027,265 | 0.9 | ||||||||||
| Utilities: 1.3% | |||||||||||
| 335,000 (1) | Alpha Generation LLC, Term Loan B, 09/30/2031 | 335,419 | 0.2 | ||||||||
| 608,475 | Bip Pipeco Holdings LLC, Term Loan, 7.818%, (TSFR3M+2.500%), 12/05/2030 | 609,616 | 0.3 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| LOANS*: (continued) | |||||||||||
| Utilities: (continued) | |||||||||||
| 663,338 | Discovery Energy Holding Corporation, Initial Dollar Term Loan, 9.354%, (TSFR3M+4.750%), 05/01/2031 | $ | 670,800 | 0.3 | |||||||
| 530,000 | Lightning Power, LLC, Initial Term B Loan, 8.346%, (TSFR3M+3.250%), 08/07/2031 | 531,730 | 0.2 | ||||||||
| 687,794 | NGL Energy Operating LLC, Term Loan, 8.595%, (TSFR1M+3.750%), 02/03/2031 | 685,472 | 0.3 | ||||||||
| 2,833,037 | 1.3 | ||||||||||
| Total Loans (Cost $207,406,506) | 207,445,208 | 96.4 | |||||||||
| CORPORATE BONDS/NOTES: 6.7% | |||||||||||
| Basic Materials: 0.7% | |||||||||||
| 500,000 (3) | Cleveland-Cliffs, Inc., 7.000%, 03/15/2032 | 506,120 | 0.3 | ||||||||
| 500,000 (3) | INEOS Quattro Finance 2 PLC, 3.375%, 01/15/2026 | 494,096 | 0.2 | ||||||||
| 500,000 (3) | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/2030 | 464,389 | 0.2 | ||||||||
| 1,464,605 | 0.7 | ||||||||||
| Communications: 0.9% | |||||||||||
| 500,000 (3) | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 453,604 | 0.2 | ||||||||
| 500,000 (3) | Stagwell Global LLC, 5.625%, 08/15/2029 | 483,794 | 0.3 | ||||||||
| 500,000 (3) | Viasat, Inc., 5.625%, 04/15/2027 | 472,258 | 0.2 | ||||||||
| 500,000 (3) | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 454,211 | 0.2 | ||||||||
| 1,863,867 | 0.9 | ||||||||||
| Consumer, Cyclical: 1.3% | |||||||||||
| 500,000 (3) | Gap, Inc., 3.875%, 10/01/2031 | 437,607 | 0.2 | ||||||||
| 500,000 (3) | Lithia Motors, Inc., 4.375%, 01/15/2031 | 465,639 | 0.2 | ||||||||
| 500,000 | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 513,989 | 0.3 | ||||||||
| 500,000 (3) | Taylor Morrison Communities, Inc., 5.750%, 01/15/2028 | 509,174 | 0.2 | ||||||||
| 500,000 (3) | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 446,221 | 0.2 | ||||||||
See Accompanying Notes to Financial Statements
31
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||||
| Consumer, Cyclical: (continued) | |||||||||||
| 500,000 (3) | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.250%, 05/15/2027 | $ | 500,723 | 0.2 | |||||||
| 2,873,353 | 1.3 | ||||||||||
| Consumer, Non-cyclical: 1.5% | |||||||||||
| 500,000 (3) | ADT Security Corp., 4.125%, 08/01/2029 | 478,029 | 0.2 | ||||||||
| 500,000 (3) | Cheplapharm Arzneimittel GmbH, 5.500%, 01/15/2028 | 485,398 | 0.2 | ||||||||
| 500,000 (3) | DaVita, Inc., 4.625%, 06/01/2030 | 477,018 | 0.2 | ||||||||
| 500,000 (3) | Embecta Corp., 5.000%, 02/15/2030 | 460,791 | 0.2 | ||||||||
| 500,000 (3) | Post Holdings, Inc., 4.625%, 04/15/2030 | 478,862 | 0.2 | ||||||||
| 500,000 (3) | Primo Water Holdings, Inc., 4.375%, 04/30/2029 | 479,909 | 0.2 | ||||||||
| 500,000 (3) | Williams Scotsman International, Inc., 4.625%, 08/15/2028 | 486,432 | 0.3 | ||||||||
| 3,346,439 | 1.5 | ||||||||||
| Energy: 0.7% | |||||||||||
| 500,000 (3) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | 502,879 | 0.3 | ||||||||
| 500,000 (3) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 487,805 | 0.2 | ||||||||
| 500,000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 05/15/2029 | 481,095 | 0.2 | ||||||||
| 1,471,779 | 0.7 | ||||||||||
| Financial: 0.9% | |||||||||||
| 500,000 (3) | Nationstar Mortgage Holdings, Inc., 5.750%, 11/15/2031 | 490,343 | 0.2 | ||||||||
| 500,000 | OneMain Finance Corp., 5.375%, 11/15/2029 | 480,906 | 0.2 | ||||||||
| 500,000 (3) | PRA Group, Inc., 5.000%, 10/01/2029 | 460,417 | 0.2 | ||||||||
| 500,000 (3) | United Wholesale Mortgage LLC, 5.750%, 06/15/2027 | 497,165 | 0.3 | ||||||||
| 1,928,831 | 0.9 | ||||||||||
| Industrial: 0.4% | |||||||||||
| 500,000 (3) | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 489,304 | 0.2 | ||||||||
| Percentage | |||||||||||
| Principal | of Net | ||||||||||
| Amount† | Value | Assets | |||||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||||
| Industrial: (continued) | |||||||||||
| 500,000 (3) | Standard Industries, Inc., 4.750%, 01/15/2028 | $ | 490,177 | 0.2 | |||||||
| 979,481 | 0.4 | ||||||||||
| Technology: 0.3% | |||||||||||
| 550,000 (3) | Entegris Escrow Corp., 5.950%, 06/15/2030 | 560,701 | 0.3 | ||||||||
| Total Corporate Bonds/ Notes (Cost $14,082,753) | 14,489,056 | 6.7 | |||||||||
| Percentage | |||||||||||
| of Net | |||||||||||
| Shares | Value | Assets | |||||||||
| COMMON STOCK: 0.1% | |||||||||||
| Business Equipment & Services: 0.0% | |||||||||||
| 30,272 (4) | Yak Access LLC Series A | 68,113 | 0.0 | ||||||||
| 5,388 (4) | Yak Access LLC Series B | 12,124 | 0.0 | ||||||||
| 80,237 | 0.0 | ||||||||||
| Communication Services: 0.0% | |||||||||||
| 32,597 (5) | Cumulus Media, Inc. — Class A | 42,702 | 0.0 | ||||||||
| Consumer Discretionary: 0.1% | |||||||||||
| 408,271 (4) | 24 Hour Fitness Worldwide, Inc. | 4,083 | 0.0 | ||||||||
| 42,856 (4) | Anchor Hocking Holdings | 428 | 0.0 | ||||||||
| 188 (4) | Travelport Tech Ltd. | 133,480 | 0.1 | ||||||||
| 137,991 | 0.1 | ||||||||||
| Consumer Staples: 0.0% | |||||||||||
| 5,913,978 (4) | Save-A-Lot, Inc./Moran Foods | — | 0.0 | ||||||||
| Total Common Stock (Cost $2,039,237) | 260,930 | 0.1 | |||||||||
| PREFERRED STOCK: 0.0% | |||||||||||
| Consumer Discretionary: 0.0% | |||||||||||
| 544,388 (4) | 24 Hour Fitness Worldwide, Inc. | 272 | 0.0 | ||||||||
| Total Preferred Stock (Cost $653,781) | 272 | 0.0 | |||||||||
| Total Long-Term Investments (Cost $224,182,277) | 222,195,466 | 103.2 | |||||||||
See Accompanying Notes to Financial Statements
32
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
| Percentage | |||||||||||
| of Net | |||||||||||
| Shares | Value | Assets | |||||||||
| SHORT-TERM INVESTMENTS: 1.2% | |||||||||||
| Mutual Funds: 1.2% | |||||||||||
| 2,493,845 (6) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $2,493,845) | $ | 2,493,845 | 1.2 | |||||||
| Total Short-Term Investments (Cost $2,493,845) | $ | 2,493,845 | 1.2 | ||||||||
| Total Investments in Securities (Cost $226,676,122) | $ | 224,689,311 | 104.4 | ||||||||
| Liabilities in Excess of Other Assets | (9,404,698 | ) | (4.4 | ) | |||||||
| Net Assets | $ | 215,284,613 | 100.0 | ||||||||
| * | Loans, while exempt from registration under the Securities Act of 1933, as amended, contain certain restrictions on resale and cannot be sold publicly. These senior loans bear interest (unless otherwise noted) at rates that float periodically at a margin above the Secured Overnight Financing Rate ("SOFR") and other short-term rates. |
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| (2) | All or a portion of this holding is subject to unfunded loan commitments. Please refer to Note 9 for additional details. |
| (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) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (5) | Non-income producing security. |
| (6) | Rate shown is the 7-day yield as of September 30, 2024. |
Reference Rate Abbreviations:
| PRIME | Federal Reserve Bank Prime Loan Rate |
| SOFRRATE | 1-day Secured Overnight Financing Rate |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |
| US0001M | 1-month LIBOR |
| US0006M | 6-month LIBOR |
See Accompanying Notes to Financial Statements
33
| Voya Floating Rate Fund | PORTFOLIO OF INVESTMENTS |
| as of September 30, 2024 (unaudited) (continued) | |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices | ||||||||||||||||
| in Active Markets | Significant Other | Significant | Fair Value | |||||||||||||
| for Identical | Observable | Unobservable | at | |||||||||||||
| Investments | Inputs | Inputs | September 30, | |||||||||||||
| (Level 1) | (Level 2) | (Level 3) | 2024 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Common Stock | ||||||||||||||||
| Business Equipment & Services | $ | — | $ | — | $ | 80,237 | $ | 80,237 | ||||||||
| Communication Services | 42,702 | — | — | 42,702 | ||||||||||||
| Consumer Discretionary | — | — | 137,991 | 137,991 | ||||||||||||
| Consumer Staples | — | — | — | — | ||||||||||||
| Total Common Stock | 42,702 | — | 218,228 | 260,930 | ||||||||||||
| Bank Loans | — | 207,445,208 | — | 207,445,208 | ||||||||||||
| Corporate Bonds/Notes | — | 14,489,056 | — | 14,489,056 | ||||||||||||
| Preferred Stock | — | — | 272 | 272 | ||||||||||||
| Short-Term Investments | 2,493,845 | — | — | 2,493,845 | ||||||||||||
| Total Investments, at fair value | $ | 2,536,547 | $ | 221,934,264 | $ | 218,500 | $ | 224,689,311 | ||||||||
* See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.
At September 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 $227,270,651. | ||||
| Net unrealized depreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 1,556,233 | ||
| Gross Unrealized Depreciation | (3,647,804 | ) | ||
| Net Unrealized Depreciation | $ | (2,091,571 | ) | |
See Accompanying Notes to Financial Statements
34
| 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 |
Toll-Free Shareholder Information
Call us from 9:00 a.m. to 7:00 p.m. Eastern Time on any business day for account or other information at (800) 992-0180.
163061 (0924)
Semi-Annual Financial Statements and Other Information
September 30, 2024
Classes A, C, I, R, R6 and W
Fixed-Income Funds
| ■ | Voya GNMA Income Fund | ■ | Voya Short Duration Bond Fund (Formerly, Voya Short Term Bond Fund) |
| ■ | Voya High Yield Bond Fund | ■ | Voya Short Duration High Income Fund |
| ■ | Voya Intermediate Bond Fund | ■ | Voya Strategic Income Opportunities Fund |
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. |
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INVESTMENT MANAGEMENT
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TABLE OF CONTENTS
| Statements of Assets and Liabilities | 1 |
| Statements of Operations | 7 |
| Statements of Changes in Net Assets | 9 |
| Financial Highlights | 12 |
| Notes to Financial Statements | 18 |
| Portfolios of Investments | 39 |
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PROXY VOTING INFORMATION
A description of the policies and procedures that the Funds 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 Funds’ 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 Funds voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Funds’ website at www.voyainvestments.com and on the SEC’s website at www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS
The Funds 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 Funds’ Forms NPORT-P are available on the SEC’s website at www.sec.gov. Each Fund’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 Fund by calling Shareholder Services toll-free at (800) 992-0180.
STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2024 (unaudited)
Voya GNMA Income Fund | Voya High Yield Bond Fund | Voya Intermediate Bond Fund | ||||||||||
| ASSETS: | ||||||||||||
| Investments in securities at fair value+* | $ | 1,594,716,967 | $ | 412,325,918 | $ | 9,011,716,623 | ||||||
| Short-term investments at fair value† | 10,235,009 | 66,210,529 | 789,108,859 | |||||||||
| Cash | 8,401 | 122,668 | 2,193,103 | |||||||||
| Cash collateral for futures contracts | 4,485,300 | — | 39,808,475 | |||||||||
| Cash pledged for centrally cleared swaps (Note 2) | — | — | 17,350,000 | |||||||||
| Cash pledged as collateral for OTC derivatives (Note 2) | — | — | 1,268,800 | |||||||||
| Receivables: | ||||||||||||
| Investment securities sold | 19,057,359 | 3,459,550 | 113,399,635 | |||||||||
| Investment securities sold on a delayed-delivery or when-issued basis | 34,735,681 | — | — | |||||||||
| Fund shares sold | 4,287,673 | 54,322 | 57,939,953 | |||||||||
| Dividends | — | 6,456 | 128,483 | |||||||||
| Interest | 4,318,007 | 6,688,632 | 67,092,999 | |||||||||
| Variation margin on futures contracts | 1,044,444 | — | — | |||||||||
| Variation margin on centrally cleared swaps | — | — | 1,650,145 | |||||||||
| Unrealized appreciation on forward premium swaptions | — | — | 6,361,686 | |||||||||
| Prepaid expenses | 64,851 | 46,830 | 156,856 | |||||||||
| Reimbursement due from Investment Adviser | 52,615 | — | — | |||||||||
| Other assets | 52,108 | 22,587 | 223,123 | |||||||||
| Total assets | 1,673,058,415 | 488,937,492 | 10,108,398,740 | |||||||||
| LIABILITIES: | ||||||||||||
| Income distribution payable | 3,736,953 | 107,862 | 38,392,574 | |||||||||
| Payable for investment securities purchased | 3,702,123 | 7,631,387 | 437,175,259 | |||||||||
| Payable for investment securities purchased on a delayed-delivery or when-issued basis | 391,189,920 | — | 94,564,389 | |||||||||
| Payable for fund shares redeemed | 1,282,062 | 432,960 | 11,546,798 | |||||||||
| Payable upon receipt of securities loaned | — | 59,521,509 | 152,601,345 | |||||||||
| Sales commitments^^^ | 15,037,847 | — | — | |||||||||
| Unrealized depreciation on forward premium swaptions | — | — | 193,956 | |||||||||
| Unrealized depreciation on OTC swap agreements | — | — | 634,953 | |||||||||
| Variation margin payable on futures contracts | — | — | 7,102,820 | |||||||||
| Cash received as collateral for delayed-delivery or when-issued securities (Note 2) | 626,420 | — | 192,344 | |||||||||
| Cash received as collateral for OTC derivatives (Note 2) | — | — | 5,940,000 | |||||||||
| Payable for investment management fees | 442,400 | 194,197 | 2,022,974 | |||||||||
| Payable for distribution and shareholder service fees | 71,721 | 12,015 | 96,924 | |||||||||
| Payable to trustees under the deferred compensation plan (Note 6) | 52,108 | 22,587 | 223,123 | |||||||||
| Payable for trustee fees | 3,070 | 1,042 | 21,483 | |||||||||
| Other accrued expenses and liabilities | 320,408 | 218,367 | 853,314 | |||||||||
| Written options, at fair value^ | — | — | 447,217 | |||||||||
| Total liabilities | 416,465,032 | 68,141,926 | 752,009,473 | |||||||||
| NET ASSETS | $ | 1,256,593,383 | $ | 420,795,566 | $ | 9,356,389,267 | ||||||
See Accompanying Notes to Financial Statements
1
STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2024 (unaudited)(continued)
| Voya GNMA Income Fund | Voya High Yield Bond Fund | Voya Intermediate Bond Fund | |||||||||||
| NET ASSETS WERE COMPRISED OF: | |||||||||||||
| Paid-in capital | $ | 1,441,448,277 | $ | 463,444,231 | $ | 10,540,604,184 | |||||||
| Total distributable loss | (184,854,894 | ) | (42,648,665 | ) | (1,184,214,917 | ) | |||||||
| NET ASSETS | $ | 1,256,593,383 | $ | 420,795,566 | $ | 9,356,389,267 | |||||||
+ | Including securities loaned at value | $ | — | $ | 57,911,232 | $ | 148,002,691 | ||||||
| * | Cost of investments in securities | $ | 1,677,765,842 | $ | 401,351,633 | $ | 9,131,074,181 | ||||||
| † | Cost of short-term investments | $ | 10,233,168 | $ | 66,211,082 | $ | 789,153,731 | ||||||
| ^ | Premiums received on written options | $ | — | $ | — | $ | 1,350,891 | ||||||
| ^^^ | Proceeds receivable from sales commitments | $ | 15,305,856 | $ | — | $ | — | ||||||
See Accompanying Notes to Financial Statements
2
STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2024 (unaudited)(continued)
Voya GNMA | Voya High Yield | Voya Intermediate | ||||||||||
| Class A | ||||||||||||
| Net assets | $ | 314,417,463 | $ | 34,078,173 | $ | 227,009,547 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 41,574,989 | 4,843,700 | 25,318,693 | |||||||||
| Net asset value and redemption price per share† | $ | 7.56 | $ | 7.04 | $ | 8.97 | ||||||
| Maximum offering price per share (2.50%)(1) | $ | 7.75 | $ | 7.22 | $ | 9.20 | ||||||
| Class C | ||||||||||||
| Net assets | $ | 8,820,137 | $ | 5,825,014 | $ | 6,817,041 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 1,172,227 | 828,711 | 761,455 | |||||||||
| Net asset value and redemption price per share† | $ | 7.52 | $ | 7.03 | $ | 8.95 | ||||||
| Class I | ||||||||||||
| Net assets | $ | 853,435,023 | $ | 143,389,819 | $ | 6,259,041,115 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 112,642,202 | 20,432,950 | 697,604,505 | |||||||||
| Net asset value and redemption price per share | $ | 7.58 | $ | 7.02 | $ | 8.97 | ||||||
| Class R | ||||||||||||
| Net assets | n/a | $ | 334,502 | $ | 107,619,142 | |||||||
| Shares authorized | n/a | unlimited | unlimited | |||||||||
| Par value | n/a | $ | 0.001 | $ | 0.001 | |||||||
| Shares outstanding | n/a | 47,544 | 11,987,304 | |||||||||
| Net asset value and redemption price per share | n/a | $ | 7.04 | $ | 8.98 | |||||||
| Class R6 | ||||||||||||
| Net assets | $ | 30,189,681 | $ | 195,481,026 | $ | 2,661,271,067 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 3,983,943 | 27,789,936 | 296,457,612 | |||||||||
| Net asset value and redemption price per share | $ | 7.58 | $ | 7.03 | $ | 8.98 | ||||||
| Class W | ||||||||||||
| Net assets | $ | 49,731,079 | $ | 41,687,032 | $ | 94,631,355 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 6,552,881 | 5,916,519 | 10,563,125 | |||||||||
| Net asset value and redemption price per share | $ | 7.59 | $ | 7.05 | $ | 8.96 | ||||||
(1) | Maximum offering price is computed at 100/97.50 of net asset value. On purchases of $100,000 or more, the offering price is reduced. |
| † | Redemption price per share may be reduced for any applicable contingent deferred sales charges. |
See Accompanying Notes to Financial Statements
3
STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2024 (Unaudited)
Voya Short | Voya Short | Voya Strategic | ||||||||||
| ASSETS: | ||||||||||||
| Investments in securities at fair value+* | $ | 575,208,864 | $ | 182,204,289 | $ | 1,851,741,993 | ||||||
| Short-term investments at fair value† | 65,003,116 | 25,140,094 | 363,294,150 | |||||||||
| Cash | 27,294 | — | 2,812,279 | |||||||||
| Cash collateral for futures contracts | 1,281,679 | — | 3,498,750 | |||||||||
| Cash pledged for centrally cleared swaps (Note 2) | — | — | 8,096,846 | |||||||||
| Cash pledged as collateral for OTC derivatives (Note 2) | — | — | 393,200 | |||||||||
| Foreign currencies at value‡ | — | — | 246,207 | |||||||||
| Receivables: | ||||||||||||
| Investment securities sold | 4,612,450 | 2,744,447 | 15,365,269 | |||||||||
| Investment securities sold on a delayed-delivery or when-issued basis | — | — | 144,612,906 | |||||||||
| Fund shares sold | 2,289,800 | 1,466,886 | 10,691,261 | |||||||||
| Dividends | 31,724 | 42,565 | 73,831 | |||||||||
| Interest | 3,793,220 | 3,361,907 | 16,468,204 | |||||||||
| Variation margin on centrally cleared swaps | — | — | 768,507 | |||||||||
| Unrealized appreciation on forward foreign currency contracts | — | — | 3,209,955 | |||||||||
| Unrealized appreciation on forward premium swaptions | — | — | 2,835,589 | |||||||||
| Unrealized appreciation on OTC swap agreements | — | — | 22,920 | |||||||||
| Prepaid expenses | 46,226 | 42,601 | 139,820 | |||||||||
| Reimbursement due from Investment Adviser | 1,957 | 13,009 | — | |||||||||
| Other assets | 7,468 | 318 | 39,328 | |||||||||
| Total assets | 652,303,798 | 215,016,116 | 2,424,311,015 | |||||||||
| LIABILITIES: | ||||||||||||
| Income distribution payable | 2,191,086 | 1,264,051 | 9,382,087 | |||||||||
| Payable for investment securities purchased | 19,347,018 | 512,500 | 157,752,008 | |||||||||
| Payable for investment securities purchased on a delayed-delivery or when-issued basis | — | — | 134,664,587 | |||||||||
| Payable for fund shares redeemed | 351,046 | 13,964,732 | 3,051,717 | |||||||||
| Payable upon receipt of securities loaned | 10,953,041 | 15,196,446 | 47,617,247 | |||||||||
| Sales commitments^^^ | — | — | 13,854,731 | |||||||||
| Unrealized depreciation on forward foreign currency contracts | — | — | 2,644,433 | |||||||||
| Unrealized depreciation on forward premium swaptions | — | — | 87,698 | |||||||||
| Unrealized depreciation on OTC swap agreements | — | — | 297,277 | |||||||||
| Variation margin payable on futures contracts | 230,444 | — | 591,472 | |||||||||
| Cash received as collateral for OTC derivatives (Note 2) | — | — | 4,330,000 | |||||||||
| Payable for investment management fees | 112,901 | 80,771 | 814,340 | |||||||||
| Payable for distribution and shareholder service fees | 751 | 6,031 | 43,839 | |||||||||
| Payable to trustees under the deferred compensation plan (Note 6) | 7,468 | 318 | 39,328 | |||||||||
| Payable for trustee fees | 1,339 | 397 | 4,818 | |||||||||
| Other accrued expenses and liabilities | 70,562 | 22,214 | 450,650 | |||||||||
| Unfunded loan commitments (Note 10) | — | — | 289,808 | |||||||||
| Written options, at fair value^ | — | — | 200,898 | |||||||||
| Total liabilities | 33,265,656 | 31,047,460 | 376,116,938 | |||||||||
| NET ASSETS | $ | 619,038,142 | $ | 183,968,656 | $ | 2,048,194,077 | ||||||
See Accompanying Notes to Financial Statements
4
STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2024 (Unaudited)(continued)
Voya Short | Voya Short | Voya Strategic | |||||||||||
| NET ASSETS WERE COMPRISED OF: | |||||||||||||
| Paid-in capital | $ | 642,875,494 | $ | 179,514,565 | $ | 2,301,067,630 | |||||||
| Total distributable earnings (loss) | (23,837,352 | ) | 4,454,091 | (252,873,553 | ) | ||||||||
| NET ASSETS | $ | 619,038,142 | $ | 183,968,656 | $ | 2,048,194,077 | |||||||
+ | Including securities loaned at value | $ | 10,656,615 | $ | 14,699,649 | $ | 46,341,631 | ||||||
| * | Cost of investments in securities | $ | 570,567,711 | $ | 179,053,915 | $ | 1,881,655,336 | ||||||
| † | Cost of short-term investments | $ | 65,005,272 | $ | 25,140,094 | $ | 363,277,395 | ||||||
| ‡ | Cost of foreign currencies | $ | — | $ | — | $ | 237,983 | ||||||
| ^ | Premiums received on written options | $ | — | $ | — | $ | 703,246 | ||||||
| ^^^ | Proceeds receivable from sales commitments | $ | — | $ | — | $ | 13,961,696 | ||||||
See Accompanying Notes to Financial Statements
5
STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2024 (Unaudited)(continued)
Voya Short | Voya Short | Voya Strategic | ||||||||||
| Class A | ||||||||||||
| Net assets | $ | 3,268,496 | $ | 16,297,524 | $ | 64,814,128 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 346,207 | 1,579,904 | 6,954,536 | |||||||||
| Net asset value and redemption price per share† | $ | 9.44 | $ | 10.32 | $ | 9.32 | ||||||
| Maximum offering price per share (2.50%)(1) | $ | 9.68 | $ | 10.58 | $ | 9.56 | ||||||
| Class C | ||||||||||||
| Net assets | $ | 83,537 | $ | 3,256,285 | $ | 32,058,420 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 8,842 | 311,906 | 3,491,096 | |||||||||
| Net asset value and redemption price per share† | $ | 9.45 | $ | 10.44 | $ | 9.18 | ||||||
| Class I | ||||||||||||
| Net assets | $ | 39,359,708 | $ | 141,476,058 | $ | 1,612,494,188 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 4,173,150 | 13,716,897 | 172,859,591 | |||||||||
| Net asset value and redemption price per share | $ | 9.43 | $ | 10.31 | $ | 9.33 | ||||||
| Class R | ||||||||||||
| Net assets | $ | 36,154 | n/a | $ | 15,965,519 | |||||||
| Shares authorized | unlimited | n/a | unlimited | |||||||||
| Par value | $ | 0.001 | n/a | $ | 0.001 | |||||||
| Shares outstanding | 3,816 | n/a | 1,726,990 | |||||||||
| Net asset value and redemption price per share | $ | 9.47 | n/a | $ | 9.24 | |||||||
| Class R6 | ||||||||||||
| Net assets | $ | 567,574,579 | $ | 22,938,789 | $ | 306,371,169 | ||||||
| Shares authorized | unlimited | unlimited | unlimited | |||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
| Shares outstanding | 60,110,056 | 2,223,935 | 32,940,280 | |||||||||
| Net asset value and redemption price per share | $ | 9.44 | $ | 10.31 | $ | 9.30 | ||||||
| Class W | ||||||||||||
| Net assets | $ | 8,715,668 | n/a | $ | 16,490,653 | |||||||
| Shares authorized | unlimited | n/a | unlimited | |||||||||
| Par value | $ | 0.001 | n/a | $ | 0.001 | |||||||
| Shares outstanding | 920,507 | n/a | 1,773,646 | |||||||||
| Net asset value and redemption price per share | $ | 9.47 | n/a | $ | 9.30 | |||||||
(1) | Maximum offering price is computed at 100/97.50 of net asset value. On purchases of $100,000 or more, the offering price is reduced. |
| † | Redemption price per share may be reduced for any applicable contingent deferred sales charges. |
See Accompanying Notes to Financial Statements
6
STATEMENTS OF OPERATIONS for the six months ended September 30, 2024 (unaudited)
Voya GNMA Income Fund | Voya High Yield Bond Fund | Voya Intermediate Bond Fund | ||||||||||
| INVESTMENT INCOME: | ||||||||||||
| Dividends | $ | — | $ | 23,003 | $ | 156,455 | ||||||
| Interest | 24,883,690 | 15,520,328 | 206,438,471 | |||||||||
| Securities lending income, net | — | 134,225 | 980,246 | |||||||||
| Other | 2,693 | 939 | 18,457 | |||||||||
| Total investment income | 24,886,383 | 15,678,495 | 207,593,629 | |||||||||
| EXPENSES: | ||||||||||||
| Investment management fees | 2,746,473 | 1,274,395 | 11,629,338 | |||||||||
| Distribution and shareholder service fees: | ||||||||||||
| Class A | 390,111 | 42,787 | 285,861 | |||||||||
| Class C | 46,538 | 29,589 | 33,025 | |||||||||
| Class R | — | 799 | 263,579 | |||||||||
| Transfer agent fees: | ||||||||||||
| Class A | 208,615 | 25,239 | 168,699 | |||||||||
| Class C | 6,223 | 4,364 | 4,870 | |||||||||
| Class I | 393,982 | 48,177 | 1,376,153 | |||||||||
| Class R | — | 235 | 77,752 | |||||||||
| Class R6 | 30 | 480 | 12,583 | |||||||||
| Class W | 32,740 | 31,009 | 70,506 | |||||||||
| Shareholder reporting expense | 40,120 | 6,195 | 104,725 | |||||||||
| Registration fees | 76,326 | 48,940 | 99,823 | |||||||||
| Professional fees | 64,818 | 18,037 | 237,160 | |||||||||
| Custody and accounting expense | 122,062 | 21,265 | 505,050 | |||||||||
| Trustee fees | 15,348 | 5,209 | 107,416 | |||||||||
| Miscellaneous expense | 38,112 | 19,560 | 257,583 | |||||||||
| Total expenses | 4,181,498 | 1,576,280 | 15,234,123 | |||||||||
| Waived and reimbursed fees | (317,097 | ) | (104,462 | ) | — | |||||||
| Net expenses | 3,864,401 | 1,471,818 | 15,234,123 | |||||||||
| Net investment income | 21,021,982 | 14,206,677 | 192,359,506 | |||||||||
| REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||
| Net realized gain (loss) on: | ||||||||||||
| Investments | 12,550,371 | (6,366,797 | ) | (23,085,384 | ) | |||||||
| Forward foreign currency contracts | — | — | (13,962 | ) | ||||||||
| Foreign currency related transactions | — | — | 16,658 | |||||||||
| Futures | (8,766,067 | ) | — | 47,156,165 | ||||||||
| Swaps | — | — | 1,953,689 | |||||||||
| Written options | — | — | 2,536,039 | |||||||||
| Net realized gain (loss) | 3,784,304 | (6,366,797 | ) | 28,563,205 | ||||||||
| Net change in unrealized appreciation (depreciation) on: | ||||||||||||
| Investments | 39,878,257 | 14,399,281 | 297,820,302 | |||||||||
| Forward foreign currency contracts | — | — | (5,206 | ) | ||||||||
| Foreign currency related transactions | — | — | 23,952 | |||||||||
| Futures | 787,994 | — | (14,395,900 | ) | ||||||||
| Swaps | — | — | (13,570,242 | ) | ||||||||
| Written options | — | — | (1,055,231 | ) | ||||||||
| Sales commitments | 143,314 | — | — | |||||||||
| Net change in unrealized appreciation (depreciation) | 40,809,565 | 14,399,281 | 268,817,675 | |||||||||
| Net realized and unrealized gain | 44,593,869 | 8,032,484 | 297,380,880 | |||||||||
| Increase in net assets resulting from operations | $ | 65,615,851 | $ | 22,239,161 | $ | 489,740,386 | ||||||
See Accompanying Notes to Financial Statements
7
STATEMENTS OF OPERATIONS for the six months ended September 30, 2024 (unaudited)
Voya Short | Voya Short | Voya Strategic | ||||||||||
| INVESTMENT INCOME: | ||||||||||||
| Dividends | $ | 52,729 | $ | 280,045 | $ | 238,872 | ||||||
| Interest | 13,667,302 | 6,412,524 | 59,104,922 | |||||||||
| Securities lending income, net | 19,811 | 89,359 | 102,036 | |||||||||
| Other | 1,179 | 312 | 4,090 | |||||||||
| Total investment income | 13,741,021 | 6,782,240 | 59,449,920 | |||||||||
| EXPENSES: | ||||||||||||
| Investment management fees | 671,373 | 381,760 | 4,830,006 | |||||||||
| Distribution and shareholder service fees: | ||||||||||||
| Class A | 4,815 | 18,689 | 79,020 | |||||||||
| Class C | 411 | 9,646 | 161,086 | |||||||||
| Class R | 83 | — | 39,739 | |||||||||
| Transfer agent fees: | ||||||||||||
| Class A | 1,638 | 443 | 18,288 | |||||||||
| Class C | 35 | 61 | 9,329 | |||||||||
| Class I | 11,389 | 16,334 | 599,880 | |||||||||
| Class R | 14 | — | 4,600 | |||||||||
| Class R6 | 491 | 117 | 274 | |||||||||
| Class W | 4,000 | — | 4,843 | |||||||||
| Shareholder reporting expense | 1,731 | 2,747 | 48,495 | |||||||||
| Registration fees | 47,074 | 35,124 | 132,418 | |||||||||
| Professional fees | 18,464 | 8,431 | 56,725 | |||||||||
| Custody and accounting expense | 61,600 | 8,414 | 179,900 | |||||||||
| Trustee fees | 6,696 | 1,983 | 24,088 | |||||||||
| Miscellaneous expense | 19,510 | 7,252 | 66,323 | |||||||||
| Total expenses | 849,324 | 491,001 | 6,255,014 | |||||||||
| Waived and recouped fees | (19,437 | ) | 9,096 | — | ||||||||
| Net expenses | 829,887 | 500,097 | 6,255,014 | |||||||||
| Net investment income | 12,911,134 | 6,282,143 | 53,194,906 | |||||||||
| REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||
| Net realized gain (loss) on: | ||||||||||||
| Investments | 1,486,107 | 815,969 | (25,310,679 | ) | ||||||||
| Forward foreign currency contracts | — | — | (671,881 | ) | ||||||||
| Foreign currency related transactions | — | — | (11,967 | ) | ||||||||
| Futures | 22,880 | — | 765,972 | |||||||||
| Swaps | 279,486 | — | (2,793,515 | ) | ||||||||
| Written options | 185,596 | — | 2,766,413 | |||||||||
| Net realized gain (loss) | 1,974,069 | 815,969 | (25,255,657 | ) | ||||||||
| Net change in unrealized appreciation (depreciation) on: | ||||||||||||
| Investments | 6,718,336 | 2,637,031 | 63,263,215 | |||||||||
| Forward foreign currency contracts | — | — | 1,771,546 | |||||||||
| Foreign currency related transactions | — | — | 723 | |||||||||
| Futures | 686,403 | — | 2,801,376 | |||||||||
| Swaps | — | — | (4,190,332 | ) | ||||||||
| Written options | — | — | (1,464,325 | ) | ||||||||
| Sales commitments | — | — | 551,156 | |||||||||
| Net change in unrealized appreciation (depreciation) | 7,404,739 | 2,637,031 | 62,733,359 | |||||||||
| Net realized and unrealized gain | 9,378,808 | 3,453,000 | 37,477,702 | |||||||||
| Increase in net assets resulting from operations | $ | 22,289,942 | $ | 9,735,143 | $ | 90,672,608 | ||||||
See Accompanying Notes to Financial Statements
8
STATEMENTS OF CHANGES IN NET ASSETS
| Voya GNMA Income Fund | Voya High Yield Bond Fund | |||||||||||||||
| Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | |||||||||||||
| FROM OPERATIONS: | ||||||||||||||||
| Net investment income | $ | 21,021,982 | $ | 44,514,711 | $ | 14,206,677 | $ | 31,480,157 | ||||||||
| Net realized gain (loss) | 3,784,304 | (7,538,616 | ) | (6,366,797 | ) | (21,607,148 | ) | |||||||||
| Net change in unrealized appreciation (depreciation) | 40,809,565 | (21,722,086 | ) | 14,399,281 | 34,044,141 | |||||||||||
| Increase in net assets resulting from operations | 65,615,851 | 15,254,009 | 22,239,161 | 43,917,150 | ||||||||||||
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||||||||||
| Total distributions (excluding return of capital): | ||||||||||||||||
| Class A | (5,361,506 | ) | (12,123,296 | ) | (1,086,293 | ) | (2,259,494 | ) | ||||||||
| Class C | (124,829 | ) | (380,277 | ) | (165,568 | ) | (347,258 | ) | ||||||||
| Class I | (15,519,693 | ) | (31,637,063 | ) | (4,783,398 | ) | (12,955,684 | ) | ||||||||
| Class R | — | — | (9,735 | ) | (16,515 | ) | ||||||||||
| Class R6 | (564,908 | ) | (1,386,386 | ) | (6,498,101 | ) | (12,562,699 | ) | ||||||||
| Class W | (903,087 | ) | (2,495,272 | ) | (1,386,836 | ) | (3,810,308 | ) | ||||||||
| Total distributions | (22,474,023 | ) | (48,022,294 | ) | (13,929,931 | ) | (31,951,958 | ) | ||||||||
| FROM CAPITAL SHARE TRANSACTIONS: | ||||||||||||||||
| Net proceeds from sale of shares | 174,587,853 | 567,140,914 | 71,021,638 | 254,267,728 | ||||||||||||
| Reinvestment of distributions | 19,132,743 | 41,021,431 | 13,009,636 | 30,358,921 | ||||||||||||
| 193,720,596 | 608,162,345 | 84,031,274 | 284,626,649 | |||||||||||||
| Cost of shares redeemed | (247,063,024 | ) | (635,223,162 | ) | (147,163,931 | ) | (205,422,210 | ) | ||||||||
| Net increase (decrease) in net assets resulting from capital share transactions | (53,342,428 | ) | (27,060,817 | ) | (63,132,657 | ) | 79,204,439 | |||||||||
| Net increase (decrease) in net assets | (10,200,600 | ) | (59,829,102 | ) | (54,823,427 | ) | 91,169,631 | |||||||||
| NET ASSETS: | ||||||||||||||||
| Beginning of year or period | 1,266,793,983 | 1,326,623,085 | 475,618,993 | 384,449,362 | ||||||||||||
| End of year or period | $ | 1,256,593,383 | $ | 1,266,793,983 | $ | 420,795,566 | $ | 475,618,993 | ||||||||
See Accompanying Notes to Financial Statements
9
STATEMENTS OF CHANGES IN NET ASSETS
| Voya Intermediate Bond Fund | Voya Short Duration Bond Fund | |||||||||||||||
| Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | |||||||||||||
| FROM OPERATIONS: | ||||||||||||||||
| Net investment income | $ | 192,359,506 | $ | 332,052,550 | $ | 12,911,134 | $ | 23,300,468 | ||||||||
| Net realized gain (loss) | 28,563,205 | (217,976,060 | ) | 1,974,069 | (7,585,245 | ) | ||||||||||
| Net change in unrealized appreciation (depreciation) | 268,817,675 | 177,319,087 | 7,404,739 | 7,075,042 | ||||||||||||
| Increase in net assets resulting from operations | 489,740,386 | 291,395,577 | 22,289,942 | 22,790,265 | ||||||||||||
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||||||||||
| Total distributions (excluding return of capital): | ||||||||||||||||
| Class A | (5,038,524 | ) | (8,809,565 | ) | (86,294 | ) | (239,790 | ) | ||||||||
| Class C | (120,709 | ) | (245,467 | ) | (1,536 | ) | (3,665 | ) | ||||||||
| Class I | (135,101,538 | ) | (222,485,923 | ) | (836,142 | ) | (1,493,293 | ) | ||||||||
| Class R | (2,190,877 | ) | (3,933,902 | ) | (705 | ) | (1,092 | ) | ||||||||
| Class R6 | (60,774,767 | ) | (101,531,654 | ) | (11,745,703 | ) | (21,319,070 | ) | ||||||||
| Class W | (2,223,130 | ) | (3,486,173 | ) | (222,663 | ) | (487,725 | ) | ||||||||
| Total distributions | (205,449,545 | ) | (340,492,684 | ) | (12,893,043 | ) | (23,544,635 | ) | ||||||||
| FROM CAPITAL SHARE TRANSACTIONS: | ||||||||||||||||
| Net proceeds from sale of shares | 1,501,487,421 | 2,506,939,881 | 170,289,909 | 282,224,676 | ||||||||||||
| Reinvestment of distributions | 178,521,193 | 298,308,043 | 12,847,007 | 23,449,458 | ||||||||||||
| 1,680,008,614 | 2,805,247,924 | 183,136,916 | 305,674,134 | |||||||||||||
| Cost of shares redeemed | (1,108,762,836 | ) | (1,929,067,994 | ) | (125,757,623 | ) | (143,991,340 | ) | ||||||||
| Net increase in net assets resulting from capital share transactions | 571,245,778 | 876,179,930 | 57,379,293 | 161,682,794 | ||||||||||||
| Net increase in net assets | 855,536,619 | 827,082,823 | 66,776,192 | 160,928,424 | ||||||||||||
| NET ASSETS: | ||||||||||||||||
| Beginning of year or period | 8,500,852,648 | 7,673,769,825 | 552,261,950 | 391,333,526 | ||||||||||||
| End of year or period | $ | 9,356,389,267 | $ | 8,500,852,648 | $ | 619,038,142 | $ | 552,261,950 | ||||||||
See Accompanying Notes to Financial Statements
10
STATEMENTS OF CHANGES IN NET ASSETS
| Voya Short Duration High Income Fund | Voya Strategic Income Opportunities Fund | |||||||||||||||
| Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | |||||||||||||
| FROM OPERATIONS: | ||||||||||||||||
| Net investment income | $ | 6,282,143 | $ | 4,559,769 | $ | 53,194,906 | $ | 93,394,865 | ||||||||
| Net realized gain (loss) | 815,969 | 535,877 | (25,255,657 | ) | (77,746,487 | ) | ||||||||||
| Net change in unrealized appreciation (depreciation) | 2,637,031 | 804,480 | 62,733,359 | 108,796,787 | ||||||||||||
| Increase in net assets resulting from operations | 9,735,143 | 5,900,126 | 90,672,608 | 124,445,165 | ||||||||||||
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||||||||||
| Total distributions (excluding return of capital): | ||||||||||||||||
| Class A | (574,744 | ) | (900,991 | ) | (1,707,787 | ) | (3,313,843 | ) | ||||||||
| Class C | (66,643 | ) | (2,750 | ) | (749,589 | ) | (1,541,527 | ) | ||||||||
| Class I | (4,710,934 | ) | (2,532,932 | ) | (43,180,150 | ) | (77,401,507 | ) | ||||||||
| Class R | — | — | (409,567 | ) | (841,060 | ) | ||||||||||
| Class R6 | (929,735 | ) | (1,172,298 | ) | (7,812,812 | ) | (5,783,413 | ) | ||||||||
| Class W | — | — | (472,654 | ) | (880,392 | ) | ||||||||||
| Total distributions | (6,282,056 | ) | (4,608,971 | ) | (54,332,559 | ) | (89,761,742 | ) | ||||||||
| FROM CAPITAL SHARE TRANSACTIONS: | ||||||||||||||||
| Net proceeds from sale of shares | 91,384,354 | 111,077,076 | 312,448,820 | 747,508,298 | ||||||||||||
| Reinvestment of distributions | 6,094,730 | 4,530,308 | 50,284,245 | 81,532,765 | ||||||||||||
| 97,479,084 | 115,607,384 | 362,733,065 | 829,041,063 | |||||||||||||
| Cost of shares redeemed | (52,266,913 | ) | (7,326,326 | ) | (200,116,138 | ) | (873,990,211 | ) | ||||||||
| Net increase (decrease) in net assets resulting from capital share transactions | 45,212,171 | 108,281,058 | 162,616,927 | (44,949,148 | ) | |||||||||||
| Net increase (decrease) in net assets | 48,665,258 | 109,572,213 | 198,956,976 | (10,265,725 | ) | |||||||||||
| NET ASSETS: | ||||||||||||||||
| Beginning of year or period | 135,303,398 | 25,731,185 | 1,849,237,101 | 1,859,502,826 | ||||||||||||
| End of year or period | $ | 183,968,656 | $ | 135,303,398 | $ | 2,048,194,077 | $ | 1,849,237,101 | ||||||||
See Accompanying Notes to Financial Statements
11
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 | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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) | Expenses net of fee waivers and/or recoupments if any(2)(3) | Expenses net of all reductions/ additions(2)(3) | Net investment income (loss)(2)(3) | Net assets, end of year or period | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | |||||||||||||||||||||||||||||||||||
| Voya GNMA Income Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 7.30 | 0.12 | • | 0.27 | 0.39 | 0.13 | — | — | 0.13 | — | 7.56 | 5.36 | 0.89 | 0.84 | 0.84 | 3.20 | 314,417 | 238 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 7.47 | 0.23 | • | (0.15 | ) | 0.08 | 0.25 | — | — | 0.25 | — | 7.30 | 1.20 | 0.86 | 0.84 | 0.84 | 3.23 | 317,375 | 495 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 8.03 | 0.16 | • | (0.53 | ) | (0.37 | ) | 0.19 | — | — | 0.19 | — | 7.47 | (4.53 | ) | 0.83 | 0.84 | 0.84 | 2.17 | 389,829 | 353 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.50 | 0.04 | • | (0.40 | ) | (0.36 | ) | 0.10 | — | 0.01 | 0.11 | — | 8.03 | (4.36 | ) | 0.84 | 0.84 | 0.84 | 0.45 | 464,615 | 539 | |||||||||||||||||||||||||||||||
| 03-31-21 | 8.58 | 0.07 | • | 0.02 | 0.09 | 0.14 | — | 0.03 | 0.17 | — | 8.50 | 1.08 | 0.85 | 0.84 | 0.84 | 0.82 | 591,762 | 419 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 8.36 | 0.18 | • | 0.27 | 0.45 | 0.23 | — | — | 0.23 | — | 8.58 | 5.43 | 0.93 | 0.92 | 0.92 | 2.12 | 493,737 | 421 | ||||||||||||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 7.26 | 0.09 | • | 0.27 | 0.36 | 0.10 | — | — | 0.10 | — | 7.52 | 4.98 | 1.64 | 1.59 | 1.59 | 2.46 | 8,820 | 238 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 7.43 | 0.18 | • | (0.15 | ) | 0.03 | 0.20 | — | — | 0.20 | — | 7.26 | 0.44 | 1.61 | 1.59 | 1.59 | 2.48 | 10,785 | 495 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 7.99 | 0.10 | • | (0.52 | ) | (0.42 | ) | 0.14 | — | — | 0.14 | — | 7.43 | (5.28 | ) | 1.58 | 1.59 | 1.59 | 1.39 | 17,679 | 353 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.46 | (0.03 | )• | (0.40 | ) | (0.43 | ) | 0.03 | — | 0.01 | 0.04 | — | 7.99 | (5.10 | ) | 1.59 | 1.59 | 1.59 | (0.32 | ) | 26,837 | 539 | ||||||||||||||||||||||||||||||
| 03-31-21 | 8.53 | 0.01 | • | 0.03 | 0.04 | 0.08 | — | 0.03 | 0.11 | — | 8.46 | 0.44 | 1.60 | 1.59 | 1.59 | 0.09 | 48,911 | 419 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 8.31 | 0.12 | • | 0.26 | 0.38 | 0.16 | — | — | 0.16 | — | 8.53 | 4.66 | 1.68 | 1.67 | 1.67 | 1.37 | 47,577 | 421 | ||||||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 7.31 | 0.13 | • | 0.28 | 0.41 | 0.14 | — | — | 0.14 | — | 7.58 | 5.65 | 0.60 | 0.54 | 0.54 | 3.50 | 853,435 | 238 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 7.49 | 0.26 | • | (0.16 | ) | 0.10 | 0.28 | — | — | 0.28 | — | 7.31 | 1.39 | 0.59 | 0.54 | 0.54 | 3.53 | 861,582 | 495 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 8.04 | 0.19 | • | (0.52 | ) | (0.33 | ) | 0.22 | — | — | 0.22 | — | 7.49 | (4.11 | ) | 0.56 | 0.54 | 0.54 | 2.48 | 822,846 | 353 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.52 | 0.06 | • | (0.41 | ) | (0.35 | ) | 0.12 | — | 0.01 | 0.13 | — | 8.04 | (4.18 | ) | 0.56 | 0.54 | 0.54 | 0.74 | 834,623 | 539 | |||||||||||||||||||||||||||||||
| 03-31-21 | 8.59 | 0.09 | • | 0.04 | 0.13 | 0.17 | — | 0.03 | 0.20 | — | 8.52 | 1.50 | 0.57 | 0.54 | 0.54 | 1.10 | 968,367 | 419 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 8.37 | 0.21 | • | 0.26 | 0.47 | 0.25 | — | — | 0.25 | — | 8.59 | 5.75 | 0.67 | 0.62 | 0.62 | 2.42 | 604,194 | 421 | ||||||||||||||||||||||||||||||||||
| Class R6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 7.31 | 0.13 | • | 0.28 | 0.41 | 0.14 | — | — | 0.14 | — | 7.58 | 5.68 | 0.50 | 0.50 | 0.50 | 3.54 | 30,190 | 238 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 7.49 | 0.26 | • | (0.16 | ) | 0.10 | 0.28 | — | — | 0.28 | — | 7.31 | 1.44 | 0.50 | 0.50 | 0.50 | 3.58 | 28,497 | 495 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 8.05 | 0.19 | • | (0.53 | ) | (0.34 | ) | 0.22 | — | — | 0.22 | — | 7.49 | (4.21 | ) | 0.49 | 0.49 | 0.49 | 2.57 | 29,707 | 353 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.52 | 0.07 | • | (0.41 | ) | (0.34 | ) | 0.12 | — | 0.01 | 0.13 | — | 8.05 | (4.06 | ) | 0.48 | 0.48 | 0.48 | 0.81 | 23,951 | 539 | |||||||||||||||||||||||||||||||
| 07-31-20(4)- 03-31-21 | 8.58 | 0.04 | • | 0.02 | 0.06 | 0.09 | — | 0.03 | 0.11 | — | 8.52 | 0.64 | 0.48 | 0.48 | 0.48 | 0.62 | 41,739 | 419 | ||||||||||||||||||||||||||||||||||
| Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 7.32 | 0.13 | • | 0.28 | 0.41 | 0.14 | — | — | 0.14 | — | 7.59 | 5.62 | 0.64 | 0.59 | 0.59 | 3.45 | 49,731 | 238 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 7.50 | 0.25 | • | (0.16 | ) | 0.09 | 0.27 | — | — | 0.27 | — | 7.32 | 1.34 | 0.61 | 0.59 | 0.59 | 3.48 | 48,555 | 495 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 8.05 | 0.18 | • | (0.52 | ) | (0.34 | ) | 0.21 | — | — | 0.21 | — | 7.50 | (4.15 | ) | 0.58 | 0.59 | 0.59 | 2.36 | 66,562 | 353 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.53 | 0.06 | • | (0.41 | ) | (0.35 | ) | 0.12 | — | 0.01 | 0.13 | — | 8.05 | (4.22 | ) | 0.59 | 0.59 | 0.59 | 0.70 | 110,824 | 539 | |||||||||||||||||||||||||||||||
| 03-31-21 | 8.60 | 0.09 | • | 0.04 | 0.13 | 0.17 | — | 0.03 | 0.20 | — | 8.53 | 1.45 | 0.60 | 0.59 | 0.59 | 1.02 | 179,530 | 419 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 8.38 | 0.20 | • | 0.27 | 0.47 | 0.25 | — | — | 0.25 | — | 8.60 | 5.69 | 0.68 | 0.67 | 0.67 | 2.38 | 155,915 | 421 | ||||||||||||||||||||||||||||||||||
| Voya High Yield Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 6.88 | 0.22 | • | 0.16 | 0.38 | 0.22 | — | — | 0.22 | — | 7.04 | 5.62 | 1.06 | 1.01 | 1.01 | 6.49 | 34,078 | 40 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 6.73 | 0.42 | • | 0.16 | 0.58 | 0.43 | — | — | 0.43 | — | 6.88 | 8.89 | 1.09 | 1.04 | 1.04 | 6.24 | 35,358 | 62 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 7.58 | 0.37 | • | (0.77 | ) | (0.40 | ) | 0.36 | 0.09 | — | 0.45 | — | 6.73 | (5.07 | ) | 1.08 | 1.07 | 1.07 | 5.46 | 38,546 | 70 | |||||||||||||||||||||||||||||||
| 03-31-22 | 7.99 | 0.36 | • | (0.40 | ) | (0.04 | ) | 0.37 | 0.00 | * | — | 0.37 | — | 7.58 | (0.62 | ) | 1.04 | 1.04 | 1.04 | 4.55 | 45,842 | 63 | ||||||||||||||||||||||||||||||
| 03-31-21 | 7.02 | 0.38 | • | 0.99 | 1.37 | 0.38 | — | 0.02 | 0.40 | — | 7.99 | 19.76 | 1.04 | 1.04 | 1.04 | 4.86 | 49,805 | 78 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 7.86 | 0.39 | • | (0.81 | ) | (0.42 | ) | 0.42 | — | — | 0.42 | — | 7.02 | (5.76 | ) | 1.10 | 1.10 | 1.10 | 4.97 | 44,060 | 57 | |||||||||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 6.87 | 0.20 | • | 0.15 | 0.35 | 0.19 | — | — | 0.19 | — | 7.03 | 5.23 | 1.81 | 1.76 | 1.76 | 5.74 | 5,825 | 40 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 6.72 | 0.37 | • | 0.16 | 0.53 | 0.38 | — | — | 0.38 | — | 6.87 | 8.08 | 1.84 | 1.79 | 1.79 | 5.49 | 5,982 | 62 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 7.58 | 0.32 | • | (0.77 | ) | (0.45 | ) | 0.32 | 0.09 | — | 0.41 | — | 6.72 | (5.87 | ) | 1.83 | 1.82 | 1.82 | 4.69 | 6,562 | 70 | |||||||||||||||||||||||||||||||
| 03-31-22 | 7.99 | 0.30 | • | (0.40 | ) | (0.10 | ) | 0.31 | 0.00 | * | — | 0.31 | — | 7.58 | (1.37 | ) | 1.79 | 1.79 | 1.79 | 3.80 | 9,496 | 63 | ||||||||||||||||||||||||||||||
See Accompanying Notes to Financial Statements
12
FINANCIAL HIGHLIGHTS (continued)
| Income (loss) from investment operations | Less Distributions | Ratios to average net assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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) | Expenses net of fee waivers and/or recoupments if any(2)(3) | Expenses net of all reductions/ additions(2)(3) | Net investment income (loss)(2)(3) | Net assets, end of year or period | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | |||||||||||||||||||||||||||||||||||
| Voya High Yield Bond Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class C (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 03-31-21 | 7.02 | 0.32 | • | 0.99 | 1.31 | 0.32 | — | 0.02 | 0.34 | — | 7.99 | 18.88 | 1.79 | 1.79 | 1.79 | 4.12 | 10,150 | 78 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 7.86 | 0.34 | • | (0.82 | ) | (0.48 | ) | 0.36 | — | — | 0.36 | — | 7.02 | (6.47 | ) | 1.85 | 1.85 | 1.85 | 4.23 | 11,215 | 57 | |||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 6.86 | 0.23 | • | 0.16 | 0.39 | 0.23 | — | — | 0.23 | — | 7.02 | 5.81 | 0.73 | 0.68 | 0.68 | 6.82 | 143,390 | 40 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 6.71 | 0.44 | • | 0.16 | 0.60 | 0.45 | — | — | 0.45 | — | 6.86 | 9.28 | 0.75 | 0.70 | 0.70 | 6.59 | 193,044 | 62 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 7.57 | 0.40 | • | (0.78 | ) | (0.38 | ) | 0.39 | 0.09 | — | 0.48 | — | 6.71 | (4.83 | ) | 0.73 | 0.72 | 0.72 | 5.82 | 188,736 | 70 | |||||||||||||||||||||||||||||||
| 03-31-22 | 7.98 | 0.39 | • | (0.40 | ) | (0.01 | ) | 0.40 | 0.00 | * | — | 0.40 | — | 7.57 | (0.28 | ) | 0.69 | 0.69 | 0.69 | 4.90 | 193,357 | 63 | ||||||||||||||||||||||||||||||
| 03-31-21 | 7.01 | 0.40 | • | 0.99 | 1.39 | 0.40 | — | 0.02 | 0.42 | — | 7.98 | 20.19 | 0.69 | 0.69 | 0.69 | 5.18 | 171,058 | 78 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 7.85 | 0.42 | • | (0.81 | ) | (0.39 | ) | 0.45 | — | — | 0.45 | — | 7.01 | (5.45 | ) | 0.75 | 0.75 | 0.75 | 5.32 | 68,214 | 57 | |||||||||||||||||||||||||||||||
| Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 6.88 | 0.22 | • | 0.15 | 0.37 | 0.21 | — | — | 0.21 | — | 7.04 | 5.49 | 1.31 | 1.26 | 1.26 | 6.24 | 335 | 40 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 6.73 | 0.40 | • | 0.16 | 0.56 | 0.41 | — | — | 0.41 | — | 6.88 | 8.62 | 1.34 | 1.29 | 1.29 | 6.00 | 297 | 62 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 7.59 | 0.36 | • | (0.78 | ) | (0.42 | ) | 0.35 | 0.09 | — | 0.44 | — | 6.73 | (5.38 | ) | 1.33 | 1.32 | 1.32 | 5.26 | 256 | 70 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.00 | 0.34 | • | (0.40 | ) | (0.06 | ) | 0.35 | 0.00 | * | — | 0.35 | — | 7.59 | (0.87 | ) | 1.29 | 1.29 | 1.29 | 4.29 | 182 | 63 | ||||||||||||||||||||||||||||||
| 03-31-21 | 7.03 | 0.36 | • | 0.99 | 1.35 | 0.36 | — | 0.02 | 0.38 | — | 8.00 | 19.44 | 1.29 | 1.29 | 1.29 | 4.61 | 547 | 78 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 7.87 | 0.37 | • | (0.81 | ) | (0.44 | ) | 0.40 | — | — | 0.40 | — | 7.03 | (5.99 | ) | 1.35 | 1.35 | 1.35 | 4.72 | 684 | 57 | |||||||||||||||||||||||||||||||
| Class R6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 6.88 | 0.24 | • | 0.14 | 0.38 | 0.23 | — | — | 0.23 | — | 7.03 | 5.69 | 0.67 | 0.62 | 0.62 | 6.89 | 195,481 | 40 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 6.73 | 0.45 | • | 0.15 | 0.60 | 0.45 | — | — | 0.45 | — | 6.88 | 9.34 | 0.68 | 0.63 | 0.63 | 6.69 | 197,092 | 62 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 7.59 | 0.40 | • | (0.77 | ) | (0.37 | ) | 0.40 | 0.09 | — | 0.49 | — | 6.73 | (4.74 | ) | 0.67 | 0.66 | 0.66 | 5.94 | 93,175 | 70 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.00 | 0.40 | • | (0.41 | ) | (0.01 | ) | 0.40 | 0.00 | * | — | 0.40 | — | 7.59 | (0.21 | ) | 0.63 | 0.63 | 0.63 | 4.91 | 44,338 | 63 | ||||||||||||||||||||||||||||||
| 03-31-21 | 7.02 | 0.41 | • | 1.00 | 1.41 | 0.41 | — | 0.02 | 0.43 | — | 8.00 | 20.39 | 0.63 | 0.63 | 0.63 | 5.26 | 242,749 | 78 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 7.87 | 0.43 | • | (0.82 | ) | (0.39 | ) | 0.46 | — | — | 0.46 | — | 7.02 | (5.49 | ) | 0.69 | 0.69 | 0.69 | 5.44 | 125,036 | 57 | |||||||||||||||||||||||||||||||
| Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 6.89 | 0.23 | • | 0.16 | 0.39 | 0.23 | — | — | 0.23 | — | 7.05 | 5.75 | 0.81 | 0.76 | 0.76 | 6.74 | 41,687 | 40 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 6.74 | 0.44 | • | 0.15 | 0.59 | 0.44 | — | — | 0.44 | — | 6.89 | 9.16 | 0.84 | 0.79 | 0.79 | 6.46 | 43,846 | 62 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 7.60 | 0.39 | • | (0.77 | ) | (0.38 | ) | 0.39 | 0.09 | — | 0.48 | — | 6.74 | (4.88 | ) | 0.83 | 0.82 | 0.82 | 5.70 | 57,159 | 70 | |||||||||||||||||||||||||||||||
| 03-31-22 | 8.00 | 0.38 | • | (0.39 | ) | (0.01 | ) | 0.39 | 0.00 | * | — | 0.39 | — | 7.60 | (0.24 | ) | 0.79 | 0.79 | 0.79 | 4.79 | 84,428 | 63 | ||||||||||||||||||||||||||||||
| 03-31-21 | 7.03 | 0.40 | • | 0.99 | 1.39 | 0.40 | — | 0.02 | 0.42 | — | 8.00 | 20.03 | 0.79 | 0.79 | 0.79 | 5.09 | 145,963 | 78 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 7.87 | 0.41 | • | (0.81 | ) | (0.40 | ) | 0.44 | — | — | 0.44 | — | 7.03 | (5.51 | ) | 0.85 | 0.85 | 0.85 | 5.22 | 138,971 | 57 | |||||||||||||||||||||||||||||||
| Voya Intermediate Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.67 | 0.18 | • | 0.31 | 0.49 | 0.19 | — | — | 0.19 | — | 8.97 | 5.77 | 0.70 | 0.70 | 0.70 | 4.12 | 227,010 | 77 | †† | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.74 | 0.33 | • | (0.06 | ) | 0.27 | 0.34 | — | — | 0.34 | — | 8.67 | 3.17 | 0.72 | 0.72 | 0.72 | 3.82 | 223,398 | 277 | †† | ||||||||||||||||||||||||||||||||
| 03-31-23 | 9.55 | 0.26 | • | (0.82 | ) | (0.56 | ) | 0.25 | — | — | 0.25 | — | 8.74 | (5.82 | ) | 0.72 | 0.72 | 0.72 | 2.93 | 245,387 | 247 | †† | ||||||||||||||||||||||||||||||
| 03-31-22 | 10.25 | 0.20 | • | (0.66 | ) | (0.46 | ) | 0.22 | — | 0.02 | 0.24 | — | 9.55 | (4.70 | ) | 0.69 | 0.69 | 0.69 | 1.97 | 364,121 | 222 | †† | ||||||||||||||||||||||||||||||
| 03-31-21 | 10.11 | 0.25 | • | 0.38 | 0.63 | 0.29 | 0.17 | 0.03 | 0.49 | — | 10.25 | 6.12 | 0.70 | 0.70 | 0.70 | 2.35 | 459,960 | 159 | †† | |||||||||||||||||||||||||||||||||
| 03-31-20 | 10.02 | 0.30 | 0.13 | 0.43 | 0.33 | 0.01 | — | 0.34 | — | 10.11 | 4.29 | 0.69 | 0.69 | 0.69 | 2.88 | 451,338 | 253 | †† | ||||||||||||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.66 | 0.15 | • | 0.30 | 0.45 | 0.16 | — | — | 0.16 | — | 8.95 | 5.26 | 1.45 | 1.45 | 1.45 | 3.37 | 6,817 | 77 | †† | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.72 | 0.26 | • | (0.05 | ) | 0.21 | 0.27 | — | — | 0.27 | — | 8.66 | 2.52 | 1.47 | 1.47 | 1.47 | 3.06 | 7,103 | 277 | †† | ||||||||||||||||||||||||||||||||
| 03-31-23 | 9.53 | 0.19 | • | (0.81 | ) | (0.62 | ) | 0.19 | — | — | 0.19 | — | 8.72 | (6.54 | ) | 1.47 | 1.47 | 1.47 | 2.17 | 9,687 | 247 | †† | ||||||||||||||||||||||||||||||
| 03-31-22 | 10.23 | 0.12 | • | (0.66 | ) | (0.54 | ) | 0.14 | — | 0.02 | 0.16 | — | 9.53 | (5.43 | ) | 1.44 | 1.44 | 1.44 | 1.22 | 15,564 | 222 | †† | ||||||||||||||||||||||||||||||
| 03-31-21 | 10.09 | 0.17 | • | 0.38 | 0.55 | 0.21 | 0.17 | 0.03 | 0.41 | — | 10.23 | 5.34 | 1.45 | 1.45 | 1.45 | 1.62 | 22,702 | 159 | †† | |||||||||||||||||||||||||||||||||
| 03-31-20 | 10.01 | 0.21 | 0.14 | 0.35 | 0.26 | 0.01 | — | 0.27 | — | 10.90 | 3.41 | 1.44 | 1.44 | 1.44 | 2.06 | 25,556 | 253 | †† | ||||||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.68 | 0.20 | • | 0.30 | 0.50 | 0.21 | — | — | 0.21 | — | 8.97 | 5.83 | 0.35 | 0.35 | 0.35 | 4.47 | 6,259,041 | 77 | †† | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.74 | 0.36 | • | (0.05 | ) | 0.31 | 0.37 | — | — | 0.37 | — | 8.68 | 3.66 | 0.34 | 0.34 | 0.34 | 4.21 | 5,613,853 | 277 | †† | ||||||||||||||||||||||||||||||||
| 03-31-23 | 9.55 | 0.29 | • | (0.82 | ) | (0.53 | ) | 0.28 | — | — | 0.28 | — | 8.74 | (5.51 | ) | 0.36 | 0.36 | 0.36 | 3.29 | 4,938,036 | 247 | †† | ||||||||||||||||||||||||||||||
See Accompanying Notes to Financial Statements
13
FINANCIAL HIGHLIGHTS (continued)
| Income (loss) from investment operations | Less Distributions | Ratios to average net assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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) | Expenses net of fee waivers and/or recoupments if any(2)(3) | Expenses net of all reductions/ additions(2)(3) | Net investment income (loss)(2)(3) | Net assets, end of year or period | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | |||||||||||||||||||||||||||||||||||
| Voya Intermediate Bond Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class I (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 03-31-22 | 10.25 | 0.24 | • | (0.67 | ) | (0.43 | ) | 0.25 | — | 0.02 | 0.27 | — | 9.55 | (4.39 | ) | 0.35 | 0.35 | 0.35 | 2.32 | 6,092,396 | 222 | †† | ||||||||||||||||||||||||||||||
| 03-31-21 | 10.10 | 0.29 | • | 0.38 | 0.67 | 0.32 | 0.17 | 0.03 | 0.52 | — | 10.25 | 6.57 | 0.34 | 0.34 | 0.34 | 2.70 | 6,175,479 | 159 | †† | |||||||||||||||||||||||||||||||||
| 03-31-20 | 10.02 | 0.32 | 0.14 | 0.46 | 0.37 | 0.01 | — | 0.38 | — | 10.10 | 4.53 | 0.36 | 0.36 | 0.36 | 3.13 | 4,988,317 | 253 | †† | ||||||||||||||||||||||||||||||||||
| Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.68 | 0.17 | • | 0.31 | 0.48 | 0.18 | — | — | 0.18 | — | 8.98 | 5.63 | 0.95 | 0.95 | 0.95 | 3.87 | 107,619 | 77 | †† | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.75 | 0.31 | • | (0.06 | ) | 0.25 | 0.32 | — | — | 0.32 | — | 8.68 | 2.92 | 0.97 | 0.97 | 0.97 | 3.57 | 112,487 | 277 | †† | ||||||||||||||||||||||||||||||||
| 03-31-23 | 9.56 | 0.24 | • | (0.82 | ) | (0.58 | ) | 0.23 | — | — | 0.23 | — | 8.75 | (6.04 | ) | 0.97 | 0.97 | 0.97 | 2.70 | 115,639 | 247 | †† | ||||||||||||||||||||||||||||||
| 03-31-22 | 10.26 | 0.18 | • | (0.67 | ) | (0.49 | ) | 0.19 | — | 0.02 | 0.21 | — | 9.56 | (4.93 | ) | 0.94 | 0.94 | 0.94 | 1.72 | 143,085 | 222 | †† | ||||||||||||||||||||||||||||||
| 03-31-21 | 10.12 | 0.22 | • | 0.38 | 0.60 | 0.26 | 0.17 | 0.03 | 0.46 | — | 10.26 | 5.86 | 0.95 | 0.95 | 0.95 | 2.11 | 175,289 | 159 | †† | |||||||||||||||||||||||||||||||||
| 03-31-20 | 10.03 | 0.26 | 0.15 | 0.41 | 0.31 | 0.01 | — | 0.32 | — | 10.12 | 4.03 | 0.94 | 0.94 | 0.94 | 2.56 | 186,915 | 253 | †† | ||||||||||||||||||||||||||||||||||
| Class R6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.68 | 0.20 | • | 0.31 | 0.51 | 0.21 | — | — | 0.21 | — | 8.98 | 5.98 | 0.30 | 0.30 | 0.30 | 4.52 | 2,661,271 | 77 | †† | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.75 | 0.36 | • | (0.06 | ) | 0.30 | 0.37 | — | — | 0.37 | — | 8.68 | 3.60 | 0.29 | 0.29 | 0.29 | 4.25 | 2,440,996 | 277 | †† | ||||||||||||||||||||||||||||||||
| 03-31-23 | 9.56 | 0.30 | • | (0.83 | ) | (0.53 | ) | 0.28 | — | — | 0.28 | — | 8.75 | (5.46 | ) | 0.30 | 0.30 | 0.30 | 3.37 | 2,302,998 | 247 | †† | ||||||||||||||||||||||||||||||
| 03-31-22 | 10.25 | 0.24 | • | (0.66 | ) | (0.42 | ) | 0.25 | — | 0.02 | 0.27 | — | 9.56 | (4.25 | ) | 0.29 | 0.29 | 0.29 | 2.37 | 2,563,038 | 222 | †† | ||||||||||||||||||||||||||||||
| 03-31-21 | 10.11 | 0.29 | • | 0.38 | 0.67 | 0.33 | 0.17 | 0.03 | 0.53 | — | 10.25 | 6.50 | 0.30 | 0.30 | 0.30 | 2.74 | 2,861,963 | 159 | †† | |||||||||||||||||||||||||||||||||
| 03-31-20 | 10.02 | 0.33 | 0.14 | 0.47 | 0.37 | 0.01 | — | 0.38 | — | 10.11 | 4.67 | 0.30 | 0.30 | 0.30 | 3.19 | 2,306,857 | 253 | †† | ||||||||||||||||||||||||||||||||||
| Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 8.67 | 0.19 | • | 0.30 | 0.49 | 0.20 | — | — | 0.20 | — | 8.96 | 5.78 | 0.45 | 0.45 | 0.45 | 4.37 | 94,631 | 77 | †† | |||||||||||||||||||||||||||||||||
| 03-31-24 | 8.73 | 0.35 | • | (0.05 | ) | 0.30 | 0.36 | — | — | 0.36 | — | 8.67 | 3.55 | 0.47 | 0.47 | 0.47 | 4.10 | 103,015 | 277 | †† | ||||||||||||||||||||||||||||||||
| 03-31-23 | 9.54 | 0.28 | • | (0.82 | ) | (0.54 | ) | 0.27 | — | — | 0.27 | — | 8.73 | (5.59 | ) | 0.47 | 0.47 | 0.47 | 3.11 | 62,837 | 247 | †† | ||||||||||||||||||||||||||||||
| 03-31-22 | 10.24 | 0.23 | • | (0.67 | ) | (0.44 | ) | 0.24 | — | 0.02 | 0.26 | — | 9.54 | (4.47 | ) | 0.44 | 0.44 | 0.44 | 2.22 | 174,769 | 222 | †† | ||||||||||||||||||||||||||||||
| 03-31-21 | 10.10 | 0.27 | • | 0.38 | 0.65 | 0.31 | 0.17 | 0.03 | 0.51 | — | 10.24 | 6.39 | 0.45 | 0.45 | 0.45 | 2.59 | 268,634 | 159 | †† | |||||||||||||||||||||||||||||||||
| 03-31-20 | 10.01 | 0.32 | 0.14 | 0.46 | 0.36 | 0.01 | — | 0.37 | — | 10.10 | 4.56 | 0.44 | 0.44 | 0.44 | 3.05 | 249,060 | 253 | †† | ||||||||||||||||||||||||||||||||||
| Voya Short Duration Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.27 | 0.21 | • | 0.17 | 0.38 | 0.21 | — | — | 0.21 | — | 9.44 | 4.15 | 0.64 | 0.64 | 0.64 | 4.48 | 3,268 | 121 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.29 | 0.36 | • | (0.01 | ) | 0.35 | 0.37 | — | — | 0.37 | — | 9.27 | 3.89 | 0.64 | 0.63 | 0.63 | 3.93 | 4,124 | 348 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 9.58 | 0.21 | • | (0.29 | ) | (0.08 | ) | 0.21 | — | — | 0.21 | — | 9.29 | (0.83 | ) | 0.64 | 0.62 | 0.62 | 2.26 | 9,054 | 225 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.98 | 0.09 | • | (0.36 | ) | (0.27 | ) | 0.10 | — | 0.03 | 0.13 | — | 9.58 | (2.81 | ) | 0.64 | 0.63 | 0.63 | 0.93 | 15,351 | 250 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.55 | 0.16 | • | 0.46 | 0.62 | 0.17 | — | 0.02 | 0.19 | — | 9.98 | 6.48 | 0.68 | 0.60 | 0.60 | 1.62 | 19,499 | 145 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.77 | 0.22 | • | (0.23 | ) | (0.01 | ) | 0.21 | — | — | 0.21 | — | 9.55 | (0.14 | ) | 0.72 | 0.65 | 0.65 | 2.19 | 6,907 | 192 | |||||||||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.28 | 0.17 | • | 0.17 | 0.34 | 0.17 | — | — | 0.17 | — | 9.45 | 3.76 | 1.39 | 1.39 | 1.39 | 3.73 | 84 | 121 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.30 | 0.30 | • | (0.02 | ) | 0.28 | 0.30 | — | — | 0.30 | — | 9.28 | 3.11 | 1.39 | 1.38 | 1.38 | 3.19 | 82 | 348 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 9.58 | 0.13 | • | (0.27 | ) | (0.14 | ) | 0.14 | — | — | 0.14 | — | 9.30 | (1.47 | ) | 1.39 | 1.37 | 1.37 | 1.34 | 149 | 225 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.98 | 0.02 | • | (0.37 | ) | (0.35 | ) | 0.02 | — | 0.03 | 0.05 | — | 9.58 | (3.54 | ) | 1.39 | 1.38 | 1.38 | 0.18 | 442 | 250 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.55 | 0.09 | • | 0.45 | 0.54 | 0.09 | — | 0.02 | 0.11 | — | 9.98 | 5.69 | 1.43 | 1.35 | 1.35 | 0.89 | 548 | 145 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.76 | 0.14 | • | (0.21 | ) | (0.07 | ) | 0.14 | — | — | 0.14 | — | 9.55 | (0.78 | ) | 1.47 | 1.40 | 1.40 | 1.41 | 335 | 192 | |||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.26 | 0.22 | • | 0.17 | 0.39 | 0.22 | — | — | 0.22 | — | 9.43 | 4.29 | 0.37 | 0.35 | 0.35 | 4.76 | 39,360 | 121 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.28 | 0.40 | • | (0.02 | ) | 0.38 | 0.40 | — | — | 0.40 | — | 9.26 | 4.17 | 0.38 | 0.35 | 0.35 | 4.29 | 34,484 | 348 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 9.57 | 0.25 | • | (0.30 | ) | (0.05 | ) | 0.24 | — | — | 0.24 | — | 9.28 | (0.54 | ) | 0.40 | 0.35 | 0.35 | 2.67 | 31,011 | 225 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.97 | 0.12 | • | (0.36 | ) | (0.24 | ) | 0.13 | — | 0.03 | 0.16 | — | 9.57 | (2.52 | ) | 0.40 | 0.35 | 0.35 | 1.19 | 31,691 | 250 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.54 | 0.19 | • | 0.46 | 0.65 | 0.20 | — | 0.02 | 0.22 | — | 9.97 | 6.81 | 0.48 | 0.35 | 0.35 | 1.91 | 16,762 | 145 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.76 | 0.24 | • | (0.22 | ) | 0.02 | 0.24 | — | — | 0.24 | — | 9.54 | 0.16 | 0.57 | 0.40 | 0.40 | 2.43 | 11,925 | 192 | |||||||||||||||||||||||||||||||||
| Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.30 | 0.20 | • | 0.17 | 0.37 | 0.20 | — | — | 0.20 | — | 9.47 | 4.01 | 0.89 | 0.89 | 0.89 | 4.23 | 36 | 121 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.33 | 0.35 | • | (0.03 | ) | 0.32 | 0.35 | — | — | 0.35 | — | 9.30 | 3.52 | 0.89 | 0.88 | 0.88 | 3.78 | 34 | 348 | |||||||||||||||||||||||||||||||||
See Accompanying Notes to Financial Statements
14
FINANCIAL HIGHLIGHTS (continued)
| Income (loss) from investment operations | Less Distributions | Ratios to average net assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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) | Expenses net of fee waivers and/or recoupments if any(2)(3) | Expenses net of all reductions/ additions(2)(3) | Net investment income (loss)(2)(3) | Net assets, end of year or period | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | |||||||||||||||||||||||||||||||||||
| Voya Short Duration Bond Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 03-31-23 | 9.61 | 0.20 | • | (0.29 | ) | (0.09 | ) | 0.19 | — | — | 0.19 | — | 9.33 | (0.96 | ) | 0.89 | 0.87 | 0.87 | 2.14 | 23 | 225 | |||||||||||||||||||||||||||||||
| 03-31-22 | 10.01 | 0.07 | • | (0.37 | ) | (0.30 | ) | 0.07 | — | 0.03 | 0.10 | — | 9.61 | (3.04 | ) | 0.89 | 0.88 | 0.88 | 0.66 | 17 | 250 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.57 | 0.14 | • | 0.46 | 0.60 | 0.14 | — | 0.02 | 0.16 | — | 10.01 | 6.32 | 0.93 | 0.85 | 0.85 | 1.39 | 8 | 145 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.77 | 0.19 | • | (0.20 | ) | (0.01 | ) | 0.19 | — | — | 0.19 | — | 9.57 | (0.18 | ) | 0.97 | 0.90 | 0.90 | 1.93 | 3 | 192 | |||||||||||||||||||||||||||||||
| Class R6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.27 | 0.22 | • | 0.17 | 0.39 | 0.22 | — | — | 0.22 | — | 9.44 | 4.31 | 0.31 | 0.30 | 0.30 | 4.81 | 567,575 | 121 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.29 | 0.40 | • | (0.02 | ) | 0.38 | 0.40 | — | — | 0.40 | — | 9.27 | 4.22 | 0.31 | 0.30 | 0.30 | 4.35 | 503,455 | 348 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 9.58 | 0.25 | • | (0.30 | ) | (0.05 | ) | 0.24 | — | — | 0.24 | — | 9.29 | (0.50 | ) | 0.32 | 0.30 | 0.30 | 2.63 | 338,437 | 225 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.98 | 0.12 | • | (0.36 | ) | (0.24 | ) | 0.13 | — | 0.03 | 0.16 | — | 9.58 | (2.49 | ) | 0.31 | 0.30 | 0.30 | 1.18 | 372,853 | 250 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.55 | 0.20 | • | 0.45 | 0.65 | 0.20 | — | 0.02 | 0.22 | — | 9.98 | 6.83 | 0.38 | 0.30 | 0.30 | 2.01 | 51,298 | 145 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.76 | 0.24 | • | (0.21 | ) | 0.03 | 0.24 | — | — | 0.24 | — | 9.55 | 0.29 | 0.42 | 0.35 | 0.35 | 2.47 | 98,380 | 192 | |||||||||||||||||||||||||||||||||
| Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.30 | 0.22 | • | 0.17 | 0.39 | 0.22 | — | — | 0.22 | — | 9.47 | 4.27 | 0.39 | 0.39 | 0.39 | 4.73 | 8,716 | 121 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.32 | 0.39 | • | (0.01 | ) | 0.38 | 0.40 | — | — | 0.40 | — | 9.30 | 4.15 | 0.39 | 0.38 | 0.38 | 4.22 | 10,083 | 348 | |||||||||||||||||||||||||||||||||
| 03-31-23 | 9.60 | 0.23 | • | (0.28 | ) | (0.05 | ) | 0.23 | — | — | 0.23 | — | 9.32 | (0.47 | ) | 0.39 | 0.37 | 0.37 | 2.47 | 12,660 | 225 | |||||||||||||||||||||||||||||||
| 03-31-22 | 10.01 | 0.12 | • | (0.38 | ) | (0.26 | ) | 0.12 | — | 0.03 | 0.15 | — | 9.60 | (2.65 | ) | 0.39 | 0.38 | 0.38 | 1.18 | 19,721 | 250 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.57 | 0.18 | • | 0.47 | 0.65 | 0.19 | — | 0.02 | 0.21 | — | 10.01 | 6.84 | 0.43 | 0.35 | 0.35 | 1.85 | 21,981 | 145 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 9.79 | 0.24 | • | (0.22 | ) | 0.02 | 0.24 | — | — | 0.24 | — | 9.57 | 0.12 | 0.47 | 0.40 | 0.40 | 2.41 | 97 | 192 | |||||||||||||||||||||||||||||||||
| Voya Short Duration High Income Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 10.14 | 0.39 | • | 0.18 | 0.57 | 0.39 | — | — | 0.39 | — | 10.32 | 5.75 | 0.82 | 0.83 | 0.83 | 7.71 | 16,298 | 39 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.88 | 0.77 | • | 0.27 | 1.04 | 0.78 | — | — | 0.78 | — | 10.14 | 10.91 | 1.12 | 0.85 | 0.85 | 7.74 | 13,674 | 55 | ||||||||||||||||||||||||||||||||||
| 02-09-23- 03-31-23 | 10.00 | 0.10 | • | (0.12 | ) | (0.02 | ) | 0.10 | — | — | 0.10 | — | 9.88 | (0.21 | ) | 1.22 | 0.85 | 0.85 | 7.35 | 8,605 | 1 | |||||||||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 10.25 | 0.36 | • | 0.19 | 0.55 | 0.36 | — | — | 0.36 | — | 10.44 | 5.44 | 1.57 | 1.58 | 1.58 | 6.92 | 3,256 | 39 | ||||||||||||||||||||||||||||||||||
| 04-20-23- 03-31-24 | 10.00 | 0.68 | • | 0.25 | 0.93 | 0.68 | — | — | 0.68 | — | 10.25 | 9.66 | 1.87 | 1.60 | 1.60 | 7.06 | 349 | 55 | ||||||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 10.14 | 0.40 | • | 0.17 | 0.57 | 0.40 | — | — | 0.40 | — | 10.31 | 5.78 | 0.59 | 0.60 | 0.60 | 7.92 | 141,476 | 39 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.88 | 0.79 | • | 0.27 | 1.06 | 0.80 | — | — | 0.80 | — | 10.14 | 11.19 | 0.89 | 0.60 | 0.60 | 7.89 | 94,349 | 55 | ||||||||||||||||||||||||||||||||||
| 02-09-23- 03-31-23 | 10.00 | 0.10 | • | (0.12 | ) | (0.02 | ) | 0.10 | — | — | 0.10 | — | 9.88 | (0.17 | ) | 0.97 | 0.60 | 0.60 | 7.61 | 8,805 | 1 | |||||||||||||||||||||||||||||||
| Class R6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 10.13 | 0.40 | • | 0.18 | 0.58 | 0.40 | — | — | 0.40 | — | 10.31 | 5.89 | 0.56 | 0.57 | 0.57 | 7.97 | 22,939 | 39 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 9.88 | 0.79 | • | 0.27 | 1.06 | 0.81 | — | — | 0.81 | — | 10.13 | 11.12 | 0.86 | 0.60 | 0.60 | 7.90 | 26,931 | 55 | ||||||||||||||||||||||||||||||||||
| 02-09-23- 03-31-23 | 10.00 | 0.10 | • | (0.12 | ) | (0.02 | ) | 0.10 | — | — | 0.10 | — | 9.88 | (0.17 | ) | 0.97 | 0.60 | 0.60 | 7.59 | 8,321 | 1 | |||||||||||||||||||||||||||||||
| Voya Strategic Income Opportunities Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.15 | 0.24 | • | 0.18 | 0.42 | 0.25 | — | — | 0.25 | — | 9.32 | 4.65 | 0.86 | 0.86 | 0.86 | 5.29 | 64,814 | 163 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 8.98 | 0.49 | • | 0.15 | 0.64 | 0.47 | — | — | 0.47 | — | 9.15 | 7.29 | 0.86 | 0.86 | 0.86 | 5.39 | 62,536 | 303 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 9.59 | 0.35 | • | (0.63 | ) | (0.28 | ) | 0.33 | — | — | 0.33 | — | 8.98 | (2.94 | ) | 0.85 | 0.85 | 0.85 | 3.81 | 72,353 | 110 | |||||||||||||||||||||||||||||||
| 03-31-22 | 10.12 | 0.28 | • | (0.52 | ) | (0.24 | ) | 0.23 | — | 0.06 | 0.29 | — | 9.59 | (2.47 | ) | 0.85 | 0.85 | 0.85 | 2.81 | 104,975 | 76 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.12 | 0.32 | • | 1.03 | 1.35 | 0.30 | — | 0.05 | 0.35 | — | 10.12 | 14.99 | 0.88 | 0.88 | 0.88 | 3.26 | 147,463 | 45 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 10.15 | 0.35 | • | (0.97 | ) | (0.62 | ) | 0.41 | — | — | 0.41 | — | 9.12 | (6.48 | ) | 0.86 | 0.86 | 0.86 | 3.45 | 146,080 | 167 | |||||||||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.02 | 0.21 | • | 0.16 | 0.37 | 0.21 | — | — | 0.21 | — | 9.18 | 4.17 | 1.61 | 1.61 | 1.61 | 4.54 | 32,058 | 163 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 8.84 | 0.41 | • | 0.16 | 0.57 | 0.39 | — | — | 0.39 | — | 9.02 | 6.64 | 1.61 | 1.61 | 1.61 | 4.65 | 33,296 | 303 | ||||||||||||||||||||||||||||||||||
See Accompanying Notes to Financial Statements
15
FINANCIAL HIGHLIGHTS (continued)
| Income (loss) from investment operations | Less Distributions | Ratios to average net assets | Supplemental Data | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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) | Expenses net of fee waivers and/or recoupments if any(2)(3) | Expenses net of all reductions/ additions(2)(3) | Net investment income (loss)(2)(3) | Net assets, end of year or period | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | |||||||||||||||||||||||||||||||||||
| Voya Strategic Income Opportunities Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class C (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 03-31-23 | 9.45 | 0.28 | • | (0.64 | ) | (0.36 | ) | 0.25 | — | — | 0.25 | — | 8.84 | (3.78 | ) | 1.60 | 1.60 | 1.60 | 3.06 | 36,708 | 110 | |||||||||||||||||||||||||||||||
| 03-31-22 | 9.97 | 0.20 | • | (0.51 | ) | (0.31 | ) | 0.15 | — | 0.06 | 0.21 | — | 9.45 | (3.18 | ) | 1.60 | 1.60 | 1.60 | 2.07 | 49,839 | 76 | |||||||||||||||||||||||||||||||
| 03-31-21 | 8.98 | 0.24 | • | 1.02 | 1.26 | 0.22 | — | 0.05 | 0.27 | — | 9.97 | 14.20 | 1.63 | 1.63 | 1.63 | 2.51 | 53,646 | 45 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 10.00 | 0.27 | • | (0.96 | ) | (0.69 | ) | 0.33 | — | — | 0.33 | — | 8.98 | (7.24 | ) | 1.61 | 1.61 | 1.61 | 2.68 | 53,333 | 167 | |||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.16 | 0.26 | • | 0.17 | 0.43 | 0.26 | — | — | 0.26 | — | 9.33 | 4.77 | 0.63 | 0.63 | 0.63 | 5.52 | 1,612,494 | 163 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 8.98 | 0.51 | • | 0.16 | 0.67 | 0.49 | — | — | 0.49 | — | 9.16 | 7.66 | 0.63 | 0.63 | 0.63 | 5.63 | 1,477,280 | 303 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 9.61 | 0.37 | • | (0.65 | ) | (0.28 | ) | 0.35 | — | — | 0.35 | — | 8.98 | (2.84 | ) | 0.61 | 0.61 | 0.61 | 4.05 | 1,546,189 | 110 | |||||||||||||||||||||||||||||||
| 03-31-22 | 10.15 | 0.31 | • | (0.53 | ) | (0.22 | ) | 0.26 | — | 0.06 | 0.32 | — | 9.61 | (2.22 | ) | 0.62 | 0.62 | 0.62 | 3.06 | 2,096,038 | 76 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.15 | 0.34 | • | 1.04 | 1.38 | 0.33 | — | 0.05 | 0.38 | — | 10.15 | 15.35 | 0.63 | 0.63 | 0.63 | 3.51 | 2,029,154 | 45 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 10.20 | 0.38 | • | (0.98 | ) | (0.60 | ) | 0.45 | — | — | 0.45 | — | 9.15 | (6.30 | ) | 0.60 | 0.60 | 0.60 | 3.68 | 2,046,289 | 167 | |||||||||||||||||||||||||||||||
| Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.08 | 0.23 | • | 0.17 | 0.40 | 0.24 | — | — | 0.24 | — | 9.24 | 4.42 | 1.11 | 1.11 | 1.11 | 5.04 | 15,966 | 163 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 8.90 | 0.46 | • | 0.16 | 0.62 | 0.44 | — | — | 0.44 | — | 9.08 | 7.16 | 1.11 | 1.11 | 1.11 | 5.15 | 16,377 | 303 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 9.51 | 0.33 | • | (0.64 | ) | (0.31 | ) | 0.30 | — | — | 0.30 | — | 8.90 | (3.25 | ) | 1.10 | 1.10 | 1.10 | 3.59 | 18,607 | 110 | |||||||||||||||||||||||||||||||
| 03-31-22 | 10.04 | 0.26 | • | (0.53 | ) | (0.27 | ) | 0.20 | — | 0.06 | 0.26 | — | 9.51 | (2.76 | ) | 1.10 | 1.10 | 1.10 | 2.58 | 20,854 | 76 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.04 | 0.29 | • | 1.03 | 1.32 | 0.27 | — | 0.05 | 0.32 | — | 10.04 | 14.81 | 1.13 | 1.13 | 1.13 | 3.00 | 22,403 | 45 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 10.07 | 0.32 | • | (0.97 | ) | (0.65 | ) | 0.38 | — | — | 0.38 | — | 9.04 | (6.80 | ) | 1.11 | 1.11 | 1.11 | 3.20 | 18,459 | 167 | |||||||||||||||||||||||||||||||
| Class R6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.13 | 0.26 | • | 0.17 | 0.43 | 0.26 | — | — | 0.26 | — | 9.30 | 4.81 | 0.55 | 0.55 | 0.55 | 5.60 | 306,371 | 163 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 8.96 | 0.52 | • | 0.14 | 0.66 | 0.49 | — | — | 0.49 | — | 9.13 | 7.63 | 0.56 | 0.56 | 0.56 | 5.72 | 243,077 | 303 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 9.58 | 0.38 | • | (0.64 | ) | (0.26 | ) | 0.36 | — | — | 0.36 | — | 8.96 | (2.69 | ) | 0.54 | 0.54 | 0.54 | 4.19 | 167,243 | 110 | |||||||||||||||||||||||||||||||
| 03-31-22 | 10.12 | 0.31 | • | (0.52 | ) | (0.21 | ) | 0.27 | — | 0.06 | 0.33 | — | 9.58 | (2.17 | ) | 0.54 | 0.54 | 0.54 | 3.14 | 159,175 | 76 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.12 | 0.35 | • | 1.04 | 1.39 | 0.34 | — | 0.05 | 0.39 | — | 10.12 | 15.46 | 0.57 | 0.57 | 0.57 | 3.59 | 154,515 | 45 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 10.17 | 0.38 | • | (0.98 | ) | (0.60 | ) | 0.45 | — | — | 0.45 | — | 9.12 | (6.28 | ) | 0.55 | 0.55 | 0.55 | 3.75 | 229,913 | 167 | |||||||||||||||||||||||||||||||
| Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 9.13 | 0.26 | • | 0.17 | 0.43 | 0.26 | — | — | 0.26 | — | 9.30 | 4.78 | 0.61 | 0.61 | 0.61 | 5.54 | 16,491 | 163 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 8.95 | 0.51 | • | 0.16 | 0.67 | 0.49 | — | — | 0.49 | — | 9.13 | 7.68 | 0.61 | 0.61 | 0.61 | 5.64 | 16,672 | 303 | ||||||||||||||||||||||||||||||||||
| 03-31-23 | 9.57 | 0.37 | • | (0.64 | ) | (0.27 | ) | 0.35 | — | — | 0.35 | — | 8.95 | (2.83 | ) | 0.60 | 0.60 | 0.60 | 3.99 | 18,980 | 110 | |||||||||||||||||||||||||||||||
| 03-31-22 | 10.10 | 0.31 | • | (0.53 | ) | (0.22 | ) | 0.25 | — | 0.06 | 0.31 | — | 9.57 | (2.24 | ) | 0.60 | 0.60 | 0.60 | 3.06 | 36,224 | 76 | |||||||||||||||||||||||||||||||
| 03-31-21 | 9.09 | 0.34 | • | 1.04 | 1.38 | 0.32 | — | 0.05 | 0.37 | — | 10.10 | 15.42 | 0.63 | 0.63 | 0.63 | 3.53 | 48,958 | 45 | ||||||||||||||||||||||||||||||||||
| 03-31-20 | 10.13 | 0.38 | • | (0.99 | ) | (0.61 | ) | 0.43 | — | — | 0.43 | — | 9.09 | (6.37 | ) | 0.61 | 0.61 | 0.61 | 3.69 | 69,522 | 167 | |||||||||||||||||||||||||||||||
| + | Unaudited. |
| (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 excluding the deduction of sales charges or contingent deferred sales charges, if applicable. 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 Fund. 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 Fund 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 Fund. Net investment income (loss) is net of all such additions or reductions. |
| (4) | Commencement of operations. |
| • | Calculated using average number of shares outstanding throughout the year or period. |
| * | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
See Accompanying Notes to Financial Statements
16
FINANCIAL HIGHLIGHTS (continued)
| †† | The Fund’s use of treasury securities and “to be announced” (TBA) securities contribute significantly to the portfolio turnover rate. Excluding all purchase and sale transactions involving treasury securities and TBAs, the Fund’s portfolio turnover rate was 25% for the period ended September 30, 2024 and 45%, 36%, 33%, and 39% for the fiscal years ended March 31, 2024, 2023, 2022, and 2021, respectively. The Fund’s strategies involving treasury securities and TBA securities are employed to increase liquidity and to manage interest rate risk while not changing the economic exposure to treasury and mortgage backed securities. The Fund invests in treasury securities and may purchase and sell treasury securities to manage the duration of the Fund and for hedging purposes when selling or buying corporate bonds. In addition, the Fund commonly employs an investment strategy involving the purchase of the most recently issued treasury security with a particular time to maturity while selling its position in a previously issued treasury security with a substantially similar time to maturity. This strategy is employed in order for the Fund to own the most liquid treasury security available for a given time to maturity. The Fund also invests in TBA securities whereby the actual identity of the securities to be delivered at settlement is not specified, but rather the general characteristics of the securities are agreed to (i.e. issuer, mortgage type, maturity, coupon and month of settlement). The Fund may engage in rolling strategies with TBAs whereby the Fund seeks to extend the expiration or maturity of a TBA position by closing out the position before expiration and simultaneously opening a new position that has substantially similar terms except for a later expiration date. Such rolls enable the Fund to maintain continuous investment exposure to an underlying asset beyond the expiration of the initial position without delivery of the underlying asset. |
See Accompanying Notes to Financial Statements
17
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited)
NOTE 1 — ORGANIZATION
Voya Funds Trust (the “Trust”) is a Delaware statutory trust and is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust was organized on August 6, 1998 and was established under a Trust Instrument dated July 30, 1998. It consists of nine separately managed series. This report is for: Voya GNMA Income Fund (“GNMA Income”), Voya High Yield Bond Fund (“High Yield Bond”), Voya Intermediate Bond Fund (“Intermediate Bond”), Voya Short Duration Bond Fund (“Short Duration Bond”), Voya Short Duration High Income Fund (“Short Duration High Income”) and Voya Strategic Income Opportunities Fund (“Strategic Income Opportunities”) (each, a “Fund” and collectively, the “Funds”). Each Fund is a diversified series of the Trust. Prior to August 1, 2024, Short Duration Bond was known as Voya Short Term Bond Fund.
Each Fund offers at least three or more of the following classes of shares: Class A, Class C, Class I, Class R, Class R6 and Class W. The separate classes of shares differ principally in the applicable sales charges (if any), transfer agent fees, distribution fees and shareholder servicing fees, as well as differences in the amount of waiver 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 fund and earn income and realized gains/losses from a fund pro rata based on the daily ending net assets of each class, without discrimination between share classes. Expenses that are specific to a fund or a class are charged directly to that fund or class. Other operating expenses shared by several funds are generally allocated among those funds based on average net assets. Dividends 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 the distribution. Differences in per share dividend rates generally result from the differences in separate class expenses, including distribution, and shareholder servicing fees, if applicable, as well as differences in the amount of waiver of fees and reimbursement of expenses between the share classes, if any.
Class C shares, along with their pro rata reinvested dividend shares, automatically convert to Class A shares 8 years after purchase.
Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company, serves as the Investment Adviser to the Funds. Voya Investment Management Co. LLC (“Voya IM”), a Delaware limited liability company, serves as the sub-adviser to the Funds. Voya Investments Distributor, LLC (“VID” or the
“Distributor”), a Delaware limited liability company, serves as the principal underwriter to the Funds.
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
The Funds 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 Funds in the preparation of their financial statements. Each Fund 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 Fund 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 Fund 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 Fund is calculated by taking the value of the Fund’s assets attributable to that class, subtracting the Fund’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Fund is closed for business, Fund shares will not be priced and a Fund does not transact purchase and redemption orders. To the extent a Fund’s assets are traded in other markets on days when a Fund does not price its shares, the value of a Fund’s assets will likely change and you will not be able to purchase or redeem shares of a Fund.
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 Fund 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 Fund assets, the asset is priced at its fair
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NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
(continued)
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 Fund’s assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Fund’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 Fund’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 Fund.
The Funds’ 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 fund 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 fund’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 Fund’s investments under these levels of classification is included within each Portfolio of Investments.
Each investment asset or liability of the Funds 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 each 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. A table summarizing each Fund’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 Fund 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 Funds. Premium amortization and discount accretion are determined by the effective yield method.
C. Foreign Currency Translation. The books and records of the Funds are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:
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NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
| (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 Funds 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 that 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 values. 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 taxes recorded on the Funds’ 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. Risk Exposures and the Use of Derivative Instruments. The Funds’ investment objectives permit them to enter into various types of derivatives contracts, including, but not limited to, forward foreign currency exchange contracts, futures, purchased options, written options, and swaps. In doing so, the Funds will employ strategies in differing combinations to permit them to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow the Funds
to pursue their objectives more quickly, and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.
In pursuit of their investment objectives, the Funds may seek to increase or decrease their 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 Fund to achieve its investment objectives.
Foreign Exchange Rate Risk. To the extent that a Fund 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 Fund 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
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NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
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 a Fund's 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. The Funds’ 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 the Funds are using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Fund, 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 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 Fund. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Fund and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Fund 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 Fund 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 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 Fund 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 the Funds. The Funds’ derivative counterparties are financial institutions who are subject to market conditions that may weaken their financial position. The Funds intend to enter into financial transactions with counterparties that they believe to be creditworthy at the time of the transaction. To reduce this risk, the Funds generally enter into master netting arrangements, established within the Funds’ International Swap and Derivatives Association, Inc. (“ISDA”) Master Agreements (“Master Agreements”). These agreements are with select counterparties and they govern transactions, including certain OTC derivative and forward foreign currency contracts, entered into by the Funds 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.
The Funds may also enter into collateral agreements with certain counterparties to further mitigate credit risk associated with 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
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NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
counterparty. Collateral pledged to or from the Funds 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.
At September 30, 2024, the maximum amount of loss that Intermediate Bond and Strategic Income Opportunities would incur if the counterparties to their derivative transactions failed to perform would be $6,366,487 and $6,208,365, respectively, which represents the gross payments to be received by the Funds on OTC purchased options, forward premium swaptions, open forward foreign currency contracts and OTC cross-currency swaps were they to be unwound as of September 30, 2024. To reduce the amount of potential loss to Intermediate Bond and Strategic Income Opportunities, the Funds received $5,940,000 and $4,330,000, respectively, in cash collateral from certain counterparties at September 30, 2024.
The Funds’ Master Agreements with derivative counterparties have credit related contingent features that if triggered would allow their derivatives counterparties to close out and demand payment or additional collateral to cover their exposure from the Funds. Credit related contingent features are established between the Funds and their derivatives counterparties to reduce the risk that the Funds will not fulfill their payment obligations to their counterparties. These triggering features include, but are not limited to, a percentage decrease in the Funds’ net assets and or a percentage decrease in the Funds’ NAV, which could cause the Funds to accelerate payment of any net liability owed to the counterparty. The contingent features are established within the Funds’ Master Agreements.
As of September 30, 2024, Intermediate Bond and Strategic Income Opportunities had a liability position of $1,276,126 and $3,230,306, respectively, on open forward foreign currency contracts, forward premium swaptions, OTC written options, and OTC volatility swaps. If a contingent feature would have been triggered as of September 30, 2024, the Funds could have been required to pay this amount in cash to their counterparties. At September 30, 2024, Intermediate Bond and Strategic Income Opporunities had pledged $1,268,800 and $393,200, respectively, in cash collateral to certain counterparties for open OTC derivatives.
E. Forward Foreign Currency Transactions and Futures Contracts. Certain Funds may enter into foreign currency exchange transactions to convert to and from different foreign currencies and to and from the U.S. dollar in connection with the planned purchases or sales of securities. The Funds either enter into these transactions on a spot basis at the spot rate prevailing in the foreign
currency exchange market or use forward foreign currency contracts to purchase or sell foreign currencies. When the contract is fulfilled or closed, gains or losses are realized. Until then, the gain or loss is included in unrealized appreciation or depreciation. Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their forward contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar.
For the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities entered into forward foreign currency contracts with the obligation to buy and sell specified foreign currencies in the future at a currently negotiated forward rate in order to increase or decrease exposure to foreign exchange rate risk. The Funds used forward foreign currency contracts primarily to protect any non-U.S. dollar-denominated holdings from adverse currency movements.
During the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had average contract amounts on forward foreign currency contracts to buy and sell as disclosed below. Please refer to the tables within the Portfolio of Investments for open forward foreign currency contracts at September 30, 2024.
| Buy | Sell | |||||||
| Intermediate Bond | $ | 1,266,065 | $ | 854,059 | ||||
| Strategic Income Opportunities | 241,193,247 | 263,542,314 | ||||||
Each Fund may enter into futures contracts involving foreign currency, interest rates, securities and securities indices. Each Fund intends to limit its use of futures contracts and futures options to “bona fide hedging” transactions, as such term is defined in applicable regulations, interpretations and practice. A futures contract obligates the seller of the contract to deliver and the purchaser of the contract to take delivery of the type of foreign currency, financial instrument or security called for in the contract at a specified future time for a specified price.
Upon entering into a futures contract, the Funds are 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 the Funds 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, if any, are reported on a table within each Fund’s Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements, if any, 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
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NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
contracts are noted in the each Fund’s Statement of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in the each Fund’s Statement of Operations. Realized gains (losses) are reported in the each Fund’s Statement 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 September 30, 2024, GNMA Income, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities have purchased and sold futures contracts on various bonds and notes to manage duration and yield curve exposure. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where a Fund 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 the Fund’s securities. With futures, there is minimal counterparty credit risk to a Fund 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 September 30, 2024, the following Funds had an average notional value on futures contracts purchased and sold as disclosed below. Please refer to the tables within each respective Portfolio of Investments for open futures contracts at September 30, 2024.
| Purchased | Sold | |||||||
| GNMA Income | $ | — | $ | 255,644,781 | ||||
| Intermediate Bond | 1,676,376,974 | 183,203,003 | ||||||
| Short Duration Bond | 299,816,192 | 59,780,351 | ||||||
| Strategic Income Opportunities | 789,329,802 | 295,887,557 | ||||||
F. Distributions to Shareholders. The Funds record distributions to their shareholders on the ex-dividend date. Each Fund distributes capital gains, if any, annually. All Funds declare dividends daily and pay dividends monthly. 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.
G. Federal Income Taxes. It is the policy of each Fund 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 Funds’ 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 Funds may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.
H. 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.
I. Repurchase Agreements. Each Fund may invest in repurchase agreements only with government securities dealers recognized by the Board of Governors of the Federal Reserve System. Under such agreements, the seller of the security agrees to repurchase it at a mutually agreed upon time and price. The resale price is in excess of the purchase price and reflects an agreed upon interest rate for the period of time the agreement is outstanding. The period of the repurchase agreements is generally short, from possibly overnight to one week, (although it may extend over a number of months) while the underlying securities generally have longer maturities. Each Fund will receive as collateral securities acceptable to it whose market value is equal to at least 100% of the carrying amount of the repurchase agreements, plus accrued interest, being invested by a Fund. The underlying collateral is valued daily on a mark to market basis to assure that the value, including accrued interest is at least equal to the repurchase price. There would be potential loss to a Fund in the event a Fund is delayed or prevented from exercising its right to dispose of the collateral, and it may incur disposition costs in liquidating the collateral.
J. Securities Lending. Each Fund has the option to temporarily loan up to 33 1∕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 Funds will receive cash or U.S. government securities as collateral. Investment risk is the risk that the Funds will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Funds 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 Funds. Securities lending may result in leverage. The
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NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
use of leverage may exaggerate any increase or decrease in the NAV, causing the Funds to be more volatile. The use of leverage may increase expenses and increase the impact of the Funds’ other risks.
K. Restricted Securities. Each Fund 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 or When-Issued Transactions. The Funds may purchase or sell securities on a when-issued or a delayed-delivery basis. Each Fund may enter into forward commitments. 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 market value of such is identified in the Funds’ Portfolio of investments. Losses may arise due to changes in the market value of the securities or from the inability of counterparties to meet the terms of the contract. In connection with such purchases, the Funds are required to segregate liquid assets with the Funds’ custodian sufficient to cover the purchase price.
To mitigate counterparty risk, the Funds have entered into Master Securities Forward Transaction Agreements (“MSFTA”) with their respective counterparties that provide or 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 September 30, 2024, GNMA Income and Intermediate Bond had received $626,420 and $192,344, respectively in cash collateral with certain counterparties for open delayed-delivery or when-issued transactions.
M. Mortgage Dollar Roll Transactions. Each Fund may engage in dollar roll transactions with respect to mortgage-backed securities issued or to be issued by Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corp. In a dollar roll transaction, a Fund 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 Funds account for dollar roll transactions as purchases and sales.
N. Options Contracts. The Funds may write call and put options on futures, swap options (“swaptions”), securities, commodity or currencies they own or in which they may invest. Writing put options tends to increase the Funds exposure to the underlying instrument. Writing call options tends to decrease the Funds exposure to the underlying instrument. When a Fund writes a call or put option, an amount equal to the premium received is recorded as a liability and subsequently marked to market to reflect the current value of the option written. These liabilities are reflected as written options outstanding on the Statements of Assets and Liabilities. Certain options may be written with premiums to be determined on a future date. 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. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying futures, swap, security or currency transaction to determine the realized gain or loss. Each Fund as a writer of an option has no control over whether the underlying instrument may be sold (call) or purchased (put) and as a result bears the
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NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
market risk of an unfavorable change in the price of the instrument underlying the written option. There is the risk the Funds may not be able to enter into a closing transaction because of an illiquid market.
The Funds may also purchase put and call options. Purchasing call options tends to increase the Funds’ exposure to the underlying instrument. Purchasing put options tends to decrease the Funds’ exposure to the underlying instrument. The Funds pay a premium which is included on the Statements of Assets and Liabilities as an investment and subsequently marked to market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. The risk associated with purchasing put and call options is limited to the premium paid. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss.
During the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had purchased interest rate swaptions to generate income with an average notional value of $295,706,506 and $159,629,606 respectively. Please refer to the table within the Portfolio of Investments for open purchased interest rate swaptions contracts for Intermediate Bond and Strategic Income Opportunities at September 30, 2024.
During the period ended September 30, 2024, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had written interest rate swaptions to generate income with an average notional value of $550,733,779, $142,766,500 and $445,830,545, respectively. Please refer to the table within the Portfolio of Investments for open written interest rate swaptions contracts for Intermediate Bond and Strategic Income Opportunities at September 30, 2024. There were no open written interest rate swaptions for Short Duration Bond at September 30, 2024.
During the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had purchased foreign currency options to manage their foreign exchange exposure with average notional values of $19,009,400 and $130,745,352, respectively. Please refer to the tables within the Portfolio of Investments for open purchased options on foreign currencies for Strategic Income Opportunities at September 30, 2024. There were no open purchased options on foreign currencies for Intermediate Bond at September 30, 2024.
During the period ended September 30, 2024, Strategic Income Opportunities had written foreign currency options to generate income with an average notional value $69,609,722. Please refer to the tables within the Portfolio of Investments for open written options on foreign currency contracts for Strategic Income Opportunities at September 30, 2024.
During the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had purchased forward premium swaptions with average notional values of $242,052,831 and $119,575,502, respectively, to manage duration and yield curve exposures. Please refer to the tables within the Portfolio of Investments for open purchased forward premium swaptions for Intermediate Bond and Strategic Income Opportunities at September 30, 2024.
During the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had written forward premium swaptions with average notional values of $292,245,832 and $139,584,721, respectively, to generate income. Please refer to the tables within the Portfolio of Investments for open written forward premium swaptions for Intermediate Bond and Strategic Income Opportunities at September 30, 2024.
During the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had purchased and written exchange-traded options to gain additional exposure to interest rates and to generate income. Intermediate Bond and Strategic Income Opportunities had average notional amounts of $524,972,370 and $228,834,110 on purchased and written exchange-traded options, respectively. There were no open purchased or written exchange-trade options at September 30, 2024.
O. Swap Agreements. Certain Funds 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). 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 Fund 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 within each Fund’s Portfolio of Investments.
Swaps are marked to market daily using quotations primarily from third party pricing services, counterparties or brokers. The fair value of the swap contract is recorded on each
25
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
Fund’s Statement of Assets and Liabilities. During the term of the swap, changes in the fair value of the swap, if any, are recorded as unrealized gains or losses on the Statement of Operations. Upfront payments paid or received by a Fund when entering into the agreements are reported on the Statement of Assets and Liabilities and as a component of the changes in unrealized gains or losses on the Statement 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 Fund’s Statement of Operations upon termination or maturity of the swap. A Fund also records net periodic payments paid or received on the swap contract as a realized gain or loss on the Statement 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 Fund’s Statement 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 Fund 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 Fund 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 Fund may execute these contracts to manage its exposure to the market or certain sectors of the market. A Fund 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 Funds may sell credit default swaps which expose these Funds 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 Fund is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund 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 Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund 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 Fund’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.
The maximum amount of future payments (undiscounted) that a Fund 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.
26
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
Notional amounts of all credit default swap agreements outstanding as of September 30, 2024, if any, for which a Fund is seller of protection, are disclosed in each Fund’s Portfolio of Investments. 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 Fund for the same referenced entity or entities.
For the period ended September 30, 2024, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had bought credit protection on credit default swap indices (“CDX”). A CDX is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. The Funds enter into CDX swap contracts to gain additional exposure within various credit sectors and to hedge the credit risk associated within various sectors with the credit markets.
During the period ended September 30, 2024, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities had average notional values on credit default swaps to buy protection of $223,500,000, $300,000 and $80,333,333 respectively.
There were no credit default swaps to buy or sell protection for any Fund at September 30, 2024.
Interest Rate Swap Agreements. 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 Fund may make payments that are greater than what a Fund received from the counterparty. Other risks include credit, liquidity and market risk.
For the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had entered into interest rate swaps in which they pay a floating interest rate and receive a fixed interest rate (“Long interest rate swap”) in order to increase exposure to interest rate risk. The average notional amount on long interest rate swaps for Intermediate Bond and Strategic Income Opportunities was $62,396,380 and $172,357,632 respectively.
For the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had entered into interest rate swaps in which they pay a fixed interest rate and receive a floating interest rate (“Short interest rate swap”) in order to decrease exposure to interest rate risk. The average notional amount on short interest rate swaps
for Intermediate Bond and Strategic Income Opportunities was $735,663,554 and $225,671,835, respectively.
Please refer to the tables within the Portfolio of Investments for Intermediate Bond and Strategic Income Opportunities for open centrally cleared interest rate swaps at September 30, 2024.
At September 30, 2024, Intermediate Bond and Strategic Income Opportunities had pledged $17,350,000 and $8,096,846, respectively, as cash collateral for open centrally cleared swaps.
Cross-Currency Swaps. Certain Funds may enter into cross-currency swaps. Cross-currency swaps are interest rate swaps in which interest cash flows are exchanged between two parties based on the notional amounts of two different currencies. The notional amounts are typically determined based on the spot exchange rates at the inception of the trade. Cross-currency swaps also involve the exchange of the notional amounts at the start of the contract at the current spot rate with an agreement to re-exchange such amounts at a later date at either the same exchange rate, a specified rate or the then current spot rate. The entire principal value of a cross-currency swap is subject to the risk that the counterparty to the swap will default on its contractual delivery obligations.
For the period ended September 30, 2024, Strategic Income Opportunities had an average notional amount of $20,678,794 on cross-currency swaps in which the Fund receives the floating rate. Please refer to the table within the Portfolio of Investments for Strategic Income Opportunities for open cross-currency swaps at period.
Volatility Swap Contracts. Certain Funds 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.
For the period ended September 30, 2024, Intermediate Bond and Strategic Income Opportunities had an average notional amount of $1,123,800 and $516,123 on foreign
27
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
currency volatility swaps (receiver), respectively. Please refer to the table within the Portfolio of Investments for Intermediate Bond and Strategic Income Opportunities for open foreign currency volatility swaps at September 30, 2024.
P. Indemnifications. In the normal course of business, the Trust may enter into contracts that provide certain indemnifications. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.
NOTE 3 — INVESTMENT TRANSACTIONS
For the period ended September 30, 2024, the cost of purchases and the proceeds from the sales of securities excluding short-term and U.S. government securities, were as follows:
| Purchases | Sales | |||||||
| GNMA Income | $ | 4,479,379 | $ | 335,262 | ||||
| High Yield Bond | 160,604,486 | 214,058,750 | ||||||
| Intermediate Bond | 2,340,698,146 | 2,028,622,770 | ||||||
| Short Duration Bond | 91,813,981 | 117,394,933 | ||||||
| Short Duration High Income | 103,389,631 | 56,688,703 | ||||||
| Strategic Income Opportunities | 681,372,876 | 509,174,352 | ||||||
U.S. government securities not included above were as follows:
| Purchases | Sales | |||||||
| GNMA Income | $ | 3,770,062,135 | $ | 3,828,160,213 | ||||
| Intermediate Bond | 4,481,518,648 | 4,522,213,482 | ||||||
| Short Duration Bond | 542,154,584 | 516,317,340 | ||||||
| Strategic Income Opportunities | 2,347,588,107 | 2,364,983,544 | ||||||
NOTE 4 — INVESTMENT MANAGEMENT FEES
The Funds have entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Funds. The Investment Adviser oversees all investment advisory and portfolio management services for the Funds and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Funds, 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 Fund, at the following annual rates:
| Fund | Fees | |
| GNMA Income | 0.45% on the first $1 billion, | |
| 0.43% on the next $500 million and | ||
| 0.41% on assets thereafter | ||
| High Yield Bond(1) | 0.61% on the first $500 million, | |
| 0.55% on the next $4.5 billion and | ||
| 0.50% on assets thereafter | ||
| Intermediate Bond | 0.27% on all assets | |
| Short Duration Bond | 0.25% on all assets | |
| Short Duration High Income | 0.48% on all assets | |
| Strategic Income Opportunities | 0.50% on all assets |
| (1) | The Investment Adviser has agreed to waive 0.05% of the management fee through August 1, 2025. Any fees waived or reimbursed in relation to this waiver are not eligible for recoupment. Termination or modification of this waiver requires approval by the Board. |
The Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Fund. Voya IM provides investment advice for the Funds and is paid by the Investment Adviser based on the average daily net assets of each respective Fund. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages each Funds’ assets in accordance with each Funds’ investment objectives, policies, and limitations.
NOTE 5 — DISTRIBUTION AND SERVICE FEES
Class A, Class C and Class R of the respective Funds each has a distribution and/or service and distribution plan (the “Plan”), whereby the Distributor is compensated by certain of the Funds for expenses incurred in the distribution and/or shareholder servicing of each Fund’s shares (“Distribution and/or Service Fees”). Pursuant to the Plan, the Distributor is entitled to payment each month for expenses incurred in the distribution and promotion of certain of each Fund’s shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any Distribution and/or Service Fees paid to securities dealers who have executed a distribution agreement with the Distributor. In addition, High Yield Bond, Intermediate Bond, Short Duration Bond and Strategic Income Opportunities have a shareholder service plan for Class A and Class C shares (together with the Plan referenced above, the “Plans”). Under the Plans, each class of shares of each Fund pays the Distributor a Distribution and/or Service Fee based on average daily net assets at the following annual rates:
28
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 5 — DISTRIBUTION AND SERVICE FEES (continued)
| Class A | Class C | Class R | ||||
| GNMA Income | 0.25% | 1.00% | N/A | |||
| High Yield Bond | 0.25% | 1.00% | 0.50% | |||
| Intermediate Bond | 0.25% | 1.00% | 0.50% | |||
| Short Duration Bond | 0.25% | 1.00% | 0.50% | |||
| Short Duration High Income | 0.25% | 1.00% | N/A | |||
| Strategic Income Opportunities | 0.25% | 1.00% | 0.50% |
The Distributor may also retain the proceeds of the initial sales charge paid by shareholders upon the purchase of Class A shares of the Funds and the contingent deferred sales charge paid by shareholders upon certain redemptions for Class A and Class C shares. For the period ended September 30, 2024, the Distributor retained the following amounts in sales charges:
| Class A | Class C | |||||||
| Initial Sales Charges: | ||||||||
| GNMA Income | $ | 3,484 | $ | — | ||||
| High Yield Bond | 991 | — | ||||||
| Intermediate Bond | 2,415 | — | ||||||
| Short Duration Bond | 18 | — | ||||||
| Short Duration High Income | 4,671 | — | ||||||
| Strategic Income Opportunities | 2,997 | — | ||||||
| Contingent Deferred Sales Charges: | ||||||||
| GNMA Income | $ | — | $ | 6 | ||||
| Intermediate Bond | 14,733 | 58 | ||||||
| Strategic Income Opportunities | — | 214 | ||||||
NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
At September 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 Funds:
| Subsidiary/ Affiliated Investment Company | Fund | Percentage | ||
| Voya Global Diversified Payment Fund | Short Duration High Income | 6.65% | ||
| Voya Index Solution 2025 Portfolio | Short Duration Bond | 7.31 | ||
| Voya Index Solution Income Portfolio | Short Duration Bond | 9.57 | ||
| Voya Institutional Trust Company | GNMA Income | 14.04 | ||
| Voya Retirement Conservative Portfolio | Short Duration Bond | 5.96 | ||
| Voya Retirement Growth Portfolio | High Yield Bond | 8.74 | ||
| Short Duration Bond | 14.69 | |||
| Voya Retirement Insurance and Annuity Company | Intermediate Bond | 8.11 |
| Voya Retirement Moderate Growth Portfolio | High Yield Bond | 5.95 | ||
| Short Duration Bond | 15.98 | |||
| Voya Retirement Moderate Portfolio | High Yield Bond | 6.51 | ||
| Short Duration Bond | 13.12 | |||
| Voya Strategic Income Fund | Short Duration | |||
| High Income | 12.19 |
The Funds have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent trustees, as described in the DC Plan, to defer the receipt of all or a portion of the trustees’ fees that they are entitled to receive from the Funds. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the trustee (the “Notional Funds”). When the Funds purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the trustees’ deferred fees, this results in a Fund 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 trustees’ fees under the DC Plan will not affect net assets of the Funds, and will not materially affect the Funds’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.
The Funds may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended September 30, 2024, the per account fees for affiliated recordkeeping services paid by each Fund were as follows:
| Fund | Amount | |||
| GNMA Income | $ 134,662 | |||
| High Yield Bond | 2,105 | |||
| Intermediate Bond | 150,373 | |||
| Short Duration Bond | 4 | |||
| Strategic Income Opportunities | 12,681 | |||
NOTE 7 — EXPENSE LIMITATION AGREEMENTS
Pursuant to a written expense limitation agreement (“Expense Limitation Agreement”) between the Investment Adviser and the Trust, on behalf of the Funds, the Investment Adviser has agreed to limit expenses of each Fund, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and acquired fund fees and expenses, as applicable, to the levels listed below:
| Fund | Class A | Class C | Class I | Class R | Class R6 | Class W | ||||||
| GNMA Income | 0.84% | 1.59% | 0.54% | N/A | 0.54% | 0.59% | ||||||
| High Yield Bond | 1.10% | 1.85% | 0.85% | 1.35% | 0.83% | 0.85% | ||||||
| Intermediate Bond | 0.75% | 1.50% | 0.50% | 1.00% | 0.50% | 0.50% | ||||||
| Short Duration Bond | 0.65% | 1.40% | 0.35% | 0.90% | 0.30% | 0.40% |
29
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 7 — EXPENSE LIMITATION AGREEMENTS (continued)
| Fund | Class A | Class C | Class I | Class R | Class R6 | Class W | ||||||
| Short Duration High Income | 0.85% | 1.60% | 0.60% | N/A | 0.60% | N/A | ||||||
| Strategic Income | ||||||||||||
| Opportunities | 1.15% | 1.90% | 0.72% | 1.40% | 0.60% | 0.90% |
With the exception of Strategic Income Opportunities and the non-recoupable management fee waiver for High Yield Bond, the Investment Adviser may at a later date recoup from a Fund for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, a Fund’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 September 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:
| September 30, | ||||||||||||||||
| 2025 | 2026 | 2027 | Total | |||||||||||||
| Short Duration Bond | $ | 70,960 | $ | 27,520 | $ | 32,807 | $ | 131,287 | ||||||||
| Short Duration High Income | — | 109,548 | 49,159 | 158,707 | ||||||||||||
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 September 30, 2024, are as follows:
| September 30, | ||||||||||||||||
| 2025 | 2026 | 2027 | Total | |||||||||||||
| GNMA Income | ||||||||||||||||
| Class A | $ | — | $ | — | $ | 124,456 | $ | 124,456 | ||||||||
| Class C | — | — | 3,975 | 3,975 | ||||||||||||
| Class I | 89,350 | 176,614 | 519,038 | 785,002 | ||||||||||||
| Class W | — | — | 19,658 | 19,658 | ||||||||||||
| Short Duration Bond | ||||||||||||||||
| Class I | $ | 8,959 | $ | 9,926 | $ | 6,374 | $ | 25,259 | ||||||||
| September 30, | ||||||||||||||||
| 2025 | 2026 | 2027 | Total | |||||||||||||
| Class R6 | — | 299 | 852 | 1,151 | ||||||||||||
| Short Duration High Income | ||||||||||||||||
| Class A | $ | — | $ | — | $ | 1,003 | $ | 1,003 | ||||||||
| Class C | — | — | 3 | 3 | ||||||||||||
| Class I | — | 48 | 7,881 | 7,929 | ||||||||||||
The Expense Limitation Agreement is contractual through August 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 Funds, 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 Fund 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 $400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 10, 2024.
Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance. During the period ended September 30, 2024, no funds utilized the line of credit.
30
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 9 — CAPITAL SHARES
Transactions in capital shares and dollars were as follows:
| Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Proceeds from shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||
| Year or period ended | # | # | # | # | # | # | ($) | ($) | ($) | ($) | ($) | ($) | ||||||||||||
| GNMA Income | ||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||
| 9/30/2024 | 2,045,806 | — | 636,180 | (4,604,396) | — | (1,922,410) | 15,001,476 | — | 4,667,031 | (33,750,598) | — | (14,082,091) | ||||||||||||
| 3/31/2024 | 3,310,384 | — | 1,485,894 | (13,470,625) | — | (8,674,347) | 24,125,160 | — | 10,791,825 | (97,219,846) | — | (62,302,861) | ||||||||||||
| Class C | ||||||||||||||||||||||||
| 9/30/2024 | 159,706 | — | 16,685 | (489,930) | — | (313,539) | 1,187,801 | — | 121,570 | (3,574,909) | — | (2,265,538) | ||||||||||||
| 3/31/2024 | 176,750 | — | 50,785 | (1,119,781) | — | (892,246) | 1,277,614 | — | 366,959 | (8,075,451) | — | (6,430,878) | ||||||||||||
| Class I | ||||||||||||||||||||||||
| 9/30/2024 | 20,350,091 | — | 1,754,522 | (27,327,487) | — | (5,222,874) | 150,338,935 | — | 12,887,590 | (200,233,182) | — | (37,006,657) | ||||||||||||
| 3/31/2024 | 63,549,408 | — | 3,575,002 | (59,166,658) | — | 7,957,752 | 463,223,480 | — | 26,004,389 | (430,099,169) | — | 59,128,700 | ||||||||||||
| Class R6 | ||||||||||||||||||||||||
| 9/30/2024 | 407,484 | — | 76,226 | (397,326) | — | 86,384 | 2,982,105 | — | 560,206 | (2,938,722) | — | 603,589 | ||||||||||||
| 3/31/2024 | 4,300,885 | — | 190,209 | (4,557,954) | — | (66,860) | 31,315,868 | — | 1,385,676 | (33,426,972) | — | (725,428) | ||||||||||||
| Class W | ||||||||||||||||||||||||
| 9/30/2024 | 691,439 | — | 121,755 | (891,678) | — | (78,484) | 5,077,536 | — | 896,346 | (6,565,613) | — | (591,731) | ||||||||||||
| 3/31/2024 | 6,474,272 | — | 338,969 | (9,062,582) | — | (2,249,341) | 47,198,792 | — | 2,472,582 | (66,401,724) | — | (16,730,350) | ||||||||||||
| High Yield Bond | ||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||
| 9/30/2024 | 826,892 | — | 141,525 | (1,263,553) | — | (295,136) | 5,665,155 | — | 976,557 | (8,667,939) | — | (2,026,227) | ||||||||||||
| 3/31/2024 | 361,829 | — | 298,396 | (1,250,087) | — | (589,862) | 2,449,971 | — | 2,011,301 | (8,416,434) | — | (3,955,162) | ||||||||||||
| Class C | ||||||||||||||||||||||||
| 9/30/2024 | 8,538 | — | 24,010 | (74,107) | — | (41,559) | 59,419 | — | 165,568 | (513,693) | — | (288,706) | ||||||||||||
| 3/31/2024 | 4,651 | — | 51,558 | (162,054) | — | (105,845) | 31,608 | — | 347,254 | (1,085,964) | — | (707,102) | ||||||||||||
| Class I | ||||||||||||||||||||||||
| 9/30/2024 | 7,837,506 | — | 577,933 | (16,104,588) | — | (7,689,149) | 53,587,843 | — | 3,980,856 | (109,509,161) | — | (51,940,462) | ||||||||||||
| 3/31/2024 | 8,875,745 | — | 1,727,448 | (10,597,062) | — | 6,131 | 59,917,986 | — | 11,619,274 | (71,662,084) | — | (124,824) | ||||||||||||
| Class R | ||||||||||||||||||||||||
| 9/30/2024 | 5,115 | — | 1,410 | (2,080) | — | 4,445 | 35,045 | — | 9,735 | (14,447) | — | 30,333 | ||||||||||||
| 3/31/2024 | 4,988 | — | 2,447 | (2,354) | — | 5,081 | 33,784 | — | 16,502 | (15,901) | — | 34,385 | ||||||||||||
| Class R6 | ||||||||||||||||||||||||
| 9/30/2024 | 1,536,010 | — | 941,190 | (3,334,920) | — | (857,720) | 10,563,698 | — | 6,493,411 | (22,888,650) | — | (5,831,541) | ||||||||||||
| 3/31/2024 | 22,255,944 | — | 1,863,295 | (9,319,419) | — | 14,799,820 | 149,057,401 | — | 12,561,973 | (62,809,363) | — | 98,810,011 | ||||||||||||
| Class W | ||||||||||||||||||||||||
| 9/30/2024 | 161,261 | — | 200,222 | (808,111) | — | (446,628) | 1,110,478 | — | 1,383,509 | (5,570,041) | — | (3,076,054) | ||||||||||||
| 3/31/2024 | 6,398,285 | — | 563,784 | (9,082,366) | — | (2,120,297) | 42,776,978 | — | 3,802,617 | (61,432,464) | — | (14,852,869) | ||||||||||||
| Intermediate Bond | ||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||
| 9/30/2024 | 4,441,442 | — | 418,317 | (5,300,725) | — | (440,966) | 38,470,421 | — | 3,646,472 | (46,403,582) | — | (4,286,689) | ||||||||||||
| 3/31/2024 | 5,977,567 | — | 762,513 | (9,065,853) | — | (2,325,773) | 51,208,990 | — | 6,538,618 | (77,758,223) | — | (20,010,615) | ||||||||||||
| Class C | ||||||||||||||||||||||||
| 9/30/2024 | 78,832 | — | 11,305 | (148,854) | — | (58,717) | 696,523 | — | 98,384 | (1,286,836) | — | (491,929) | ||||||||||||
| 3/31/2024 | 151,165 | — | 23,175 | (464,479) | — | (290,139) | 1,294,652 | — | 198,461 | (3,967,156) | — | (2,474,043) | ||||||||||||
| Class I | ||||||||||||||||||||||||
| 9/30/2024 | 127,318,656 | — | 13,014,783 | (89,519,693) | — | 50,813,746 | 1,122,305,758 | — | 113,556,355 | (775,244,756) | — | 460,617,357 | ||||||||||||
| 3/31/2024 | 207,565,223 | — | 22,038,851 | (147,659,644) | — | 81,944,430 | 1,774,833,300 | — | 189,035,741 | (1,256,215,956) | — | 707,653,085 | ||||||||||||
| Class R | ||||||||||||||||||||||||
| 9/30/2024 | 816,255 | — | 249,747 | (2,031,758) | — | (965,756) | 7,124,941 | — | 2,180,735 | (17,640,698) | — | (8,335,022) | ||||||||||||
| 3/31/2024 | 2,526,079 | — | 454,892 | (3,245,441) | — | (264,470) | 21,721,201 | — | 3,905,475 | (27,844,780) | — | (2,218,104) | ||||||||||||
| Class R6 | ||||||||||||||||||||||||
| 9/30/2024 | 36,887,904 | — | 6,567,608 | (28,071,426) | — | 15,384,086 | 321,998,957 | — | 57,360,821 | (244,234,641) | — | 135,125,137 | ||||||||||||
| 3/31/2024 | 67,453,322 | — | 11,141,203 | (60,758,350) | — | 17,836,175 | 579,836,589 | — | 95,629,666 | (520,789,748) | — | 154,676,507 | ||||||||||||
| Class W | ||||||||||||||||||||||||
| 9/30/2024 | 1,253,871 | — | 192,939 | (2,771,652) | — | (1,324,842) | 10,890,821 | — | 1,678,426 | (23,952,323) | — | (11,383,076) | ||||||||||||
| 3/31/2024 | 9,303,807 | — | 350,011 | (4,964,061) | — | 4,689,757 | 78,045,149 | — | 3,000,082 | (42,492,131) | — | 38,553,100 | ||||||||||||
| Short Duration Bond | ||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||
| 9/30/2024 | 9,581 | — | 9,266 | (117,526) | — | (98,679) | 89,878 | — | 86,187 | (1,100,047) | — | (923,982) | ||||||||||||
| 3/31/2024 | 115,065 | — | 25,815 | (670,464) | — | (529,584) | 1,070,046 | — | 238,645 | (6,196,518) | — | (4,887,827) | ||||||||||||
31
NOTES TO FINANCIAL STATEMENTS as of September 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 | # | # | # | # | # | # | ($) | ($) | ($) | ($) | ($) | ($) | ||||||||||||
| Short Duration Bond (continued) | ||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||
| 9/30/2024 | 116 | — | 162 | (269) | — | 9 | 1,080 | — | 1,507 | (2,496) | — | 91 | ||||||||||||
| 3/31/2024 | 4,005 | — | 376 | (11,557) | — | (7,176) | 37,161 | — | 3,473 | (107,031) | — | (66,397) | ||||||||||||
| Class I | ||||||||||||||||||||||||
| 9/30/2024 | 1,343,200 | — | 88,022 | (981,427) | — | 449,795 | 12,475,615 | — | 819,803 | (9,079,373) | — | 4,216,045 | ||||||||||||
| 3/31/2024 | 1,927,775 | — | 154,690 | (1,700,440) | — | 382,025 | 17,790,266 | — | 1,428,953 | (15,749,402) | — | 3,469,817 | ||||||||||||
| Class P2(1) | ||||||||||||||||||||||||
| 9/30/2024 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||
| 3/31/2024 | — | — | — | — | — | — | 748 | — | — | — | — | 748 | ||||||||||||
| Class P3(2) | ||||||||||||||||||||||||
| 9/30/2024 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||
| 3/31/2024 | — | — | — | — | — | — | 1 | — | — | (2,664) | — | (2,663) | ||||||||||||
| Class R | ||||||||||||||||||||||||
| 9/30/2024 | 580 | — | 75 | (490) | — | 165 | 5,418 | — | 705 | (4,527) | — | 1,596 | ||||||||||||
| 3/31/2024 | 1,264 | — | 118 | (184) | — | 1,198 | 11,712 | — | 1,092 | (1,715) | — | 11,089 | ||||||||||||
| Class R6 | ||||||||||||||||||||||||
| 9/30/2024 | 16,796,695 | — | 1,258,095 | (12,242,514) | — | 5,812,276 | 157,542,049 | — | 11,716,158 | (113,639,702) | — | 55,618,505 | ||||||||||||
| 3/31/2024 | 28,350,341 | — | 2,301,592 | (12,773,278) | — | 17,878,655 | 262,517,916 | — | 21,290,120 | (118,109,582) | — | 165,698,454 | ||||||||||||
| Class W | ||||||||||||||||||||||||
| 9/30/2024 | 18,872 | — | 23,849 | (206,631) | — | (163,910) | 175,869 | — | 222,647 | (1,931,478) | — | (1,532,962) | ||||||||||||
| 3/31/2024 | 85,854 | — | 52,518 | (412,476) | — | (274,104) | 796,826 | — | 487,175 | (3,824,428) | — | (2,540,427) | ||||||||||||
| Short Duration High Income | ||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||
| 9/30/2024 | 195,342 | — | 56,264 | (20,832) | — | 230,774 | 1,972,049 | — | 570,788 | (211,765) | — | 2,331,072 | ||||||||||||
| 3/31/2024 | 412,758 | — | 89,091 | (23,348) | — | 478,501 | 4,110,562 | — | 893,099 | (231,044) | — | 4,772,617 | ||||||||||||
| Class C | ||||||||||||||||||||||||
| 9/30/2024 | 273,755 | — | 6,461 | (2,331) | — | 277,885 | 2,794,483 | — | 66,643 | (24,041) | — | 2,837,085 | ||||||||||||
| 4/20/2023(3)- | ||||||||||||||||||||||||
| 3/31/2024 | 33,769 | — | 269 | (17) | — | 34,021 | 345,881 | — | 2,750 | (177) | — | 348,454 | ||||||||||||
| Class I | ||||||||||||||||||||||||
| 9/30/2024 | 8,545,226 | — | 445,992 | (4,583,294) | — | 4,407,924 | 86,551,862 | — | 4,528,839 | (46,697,454) | — | 44,383,247 | ||||||||||||
| 3/31/2024 | 8,835,757 | — | 244,182 | (661,895) | — | 8,418,044 | 89,205,650 | — | 2,462,161 | (6,700,266) | — | 84,967,545 | ||||||||||||
| Class R6 | ||||||||||||||||||||||||
| 9/30/2024 | 6,524 | — | 91,639 | (531,654) | — | (433,491) | 65,960 | — | 928,460 | (5,333,653) | — | (4,339,233) | ||||||||||||
| 3/31/2024 | 1,737,978 | — | 116,351 | (38,894) | — | 1,815,435 | 17,414,983 | — | 1,172,298 | (394,839) | — | 18,192,442 | ||||||||||||
| Strategic Income Opportunities | ||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||
| 9/30/2024 | 1,159,118 | — | 170,357 | (1,210,323) | — | 119,152 | 10,653,672 | — | 1,568,285 | (11,109,644) | — | 1,112,313 | ||||||||||||
| 3/31/2024 | 1,858,965 | — | 330,515 | (3,414,365) | — | (1,224,885) | 16,846,508 | — | 2,981,715 | (30,673,283) | — | (10,845,060) | ||||||||||||
| Class C | ||||||||||||||||||||||||
| 9/30/2024 | 396,188 | — | 75,570 | (673,985) | — | (202,227) | 3,591,394 | — | 685,348 | (6,097,937) | — | (1,821,195) | ||||||||||||
| 3/31/2024 | 457,911 | — | 159,618 | (1,074,816) | — | (457,287) | 4,070,200 | — | 1,418,716 | (9,548,534) | — | (4,059,618) | ||||||||||||
| Class I | ||||||||||||||||||||||||
| 9/30/2024 | 26,400,749 | — | 4,291,950 | (19,148,119) | — | 11,544,580 | 243,578,905 | — | 39,558,027 | (176,416,168) | — | 106,720,764 | ||||||||||||
| 3/31/2024 | 54,963,363 | — | 7,816,338 | (73,556,964) | — | (10,777,263) | 496,584,223 | — | 70,581,373 | (663,120,840) | — | (95,955,244) | ||||||||||||
| Class R | ||||||||||||||||||||||||
| 9/30/2024 | 52,729 | — | 44,844 | (175,049) | — | (77,476) | 482,107 | — | 409,568 | (1,593,652) | — | (701,977) | ||||||||||||
| 3/31/2024 | 117,724 | — | 94,007 | (497,018) | — | (285,287) | 1,053,945 | — | 841,057 | (4,428,359) | — | (2,533,357) | ||||||||||||
| Class R6 | ||||||||||||||||||||||||
| 9/30/2024 | 5,695,557 | — | 849,660 | (226,111) | — | 6,319,106 | 52,067,207 | — | 7,812,706 | (2,079,245) | — | 57,800,668 | ||||||||||||
| 3/31/2024 | 24,859,430 | — | 575,826 | (17,485,848) | — | 7,949,408 | 222,565,950 | — | 5,228,912 | (156,757,231) | — | 71,037,631 | ||||||||||||
| Class W | ||||||||||||||||||||||||
| 9/30/2024 | 226,789 | — | 27,254 | (307,097) | — | (53,054) | 2,075,535 | — | 250,311 | (2,819,492) | — | (493,646) | ||||||||||||
| 3/31/2024 | 705,782 | — | 53,452 | (1,052,082) | — | (292,848) | 6,387,472 | — | 480,992 | (9,461,964) | — | (2,593,500) | ||||||||||||
| (1) | Class P2 was fully redeemed on close of business November 29, 2022 |
| (2) | Class P3 was fully redeemed on close of business November 3, 2022 |
| (3) | Commencement of operations. |
32
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 10 — UNFUNDED LOAN COMMITMENTS
Certain Funds may enter into credit agreements, all or a portion of which may be unfunded. The Funds are obligated to fund these loan commitments at the borrower’s discretion. Funded and unfunded portions of the credit agreements are presented in the Portfolio of Investments. At September 30, 2024, Strategic Income Opportunities had the following unfunded loan commitments:
| Loan | Unfunded Loan Commitment | |||
| Chrysaor Bidco S.A R.L. (Usd) Delayed Tl | $ | 10,330 | ||
| Epicor Software Corporation 2024 Delayed Draw Term Loan | 90,168 | |||
| Focus Financial Partners LLC 2024 Delayed Draw Term Loan | 66,920 | |||
| Formula One Management Limited Incremental Term Facility | 73,333 | |||
| Ryan LLC Delayed Draw Term Loan | 25,238 | |||
| Usalco, LLC Delayed Tl | 23,819 | |||
| $ | 289,808 | |||
NOTE 11 — SECURITIES LENDING
Under a Master Securities Lending Agreement (the “Agreement”) with BNY, the Funds 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 the Market Close of the Funds 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 Funds on the next business day. The cash collateral received is invested in approved investments as defined in the Securities Lending Agreement with BNY (the “Agreement”). The Funds bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Funds 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 Funds 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 Funds in the event the Funds are delayed or prevented from exercising its 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 fund.
The following tables represent a summary of each respective Fund’s securities lending agreements by counterparty which are subject to offset under the Agreement as of September 30, 2024:
High Yield Bond
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| Barclays Capital Inc. | $ | 1,368,576 | $ | (1,368,576 | ) | $ | — | |||||
| BNP Paribas | 1,170,749 | (1,170,749 | ) | — | ||||||||
| BNP Paribas Prime Brokerage Int'l Ltd. | 2,432,918 | (2,432,918 | ) | — | ||||||||
| BNP Paribas Securities Corp. | 27,110 | (27,110 | ) | — | ||||||||
| Goldman, Sachs & Co. LLC | 9,854,774 | (9,854,774 | ) | — | ||||||||
| J.P. Morgan Securities LLC | 28,525,674 | (28,525,674 | ) | — | ||||||||
| Jefferies LLC | 157,257 | (157,257 | ) | — | ||||||||
| Morgan Stanley & Co. LLC | 14,353,477 | (14,353,477 | ) | — | ||||||||
| TD Securities (USA) Inc. | 20,697 | (20,697 | ) | — | ||||||||
| Total | $ | 57,911,232 | $ | (57,911,232 | ) | $ | — | |||||
| (1) | Cash collateral with a fair value of $59,521,509 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. |
Intermediate Bond
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| Barclays Bank PLC | $ | 10,871,720 | $ | (10,871,720 | ) | $ | — | |||||
| Barclays Capital Inc. | 4,406,852 | (4,406,852 | ) | — | ||||||||
| BNP Paribas | 2,032,547 | (2,032,547 | ) | — | ||||||||
| BNP Paribas Prime Brokerage Int'l Ltd. | 250,041 | (250,041 | ) | — | ||||||||
| BNP Paribas Securities Corp. | 249,071 | (249,071 | ) | — | ||||||||
33
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 11 — SECURITIES LENDING (continued)
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| BofA Securities Inc | $ | 5,098,429 | $ | (5,098,429 | ) | $ | — | |||||
| Canadian Imperial Bank Of Commerce | 6,004,178 | (6,004,178 | ) | — | ||||||||
| Citigroup Global Markets Inc. | 3,039,227 | (3,039,227 | ) | — | ||||||||
| Deutsche Bank Securities Inc. | 36,085,034 | (36,085,034 | ) | — | ||||||||
| Goldman, Sachs & Co. LLC | 14,235,227 | (14,235,227 | ) | — | ||||||||
| HSBC Securities (USA) Inc. | 827,145 | (827,145 | ) | — | ||||||||
| J.P. Morgan Securities LLC | 36,653,597 | (36,653,597 | ) | — | ||||||||
| Jefferies LLC | 865,574 | (865,574 | ) | — | ||||||||
| Merrill Lynch International | 2,586,754 | (2,586,754 | ) | — | ||||||||
| Mizuho Securities USA LLC. | 160,667 | (160,667 | ) | — | ||||||||
| Morgan Stanley & Co. LLC | 6,471,721 | (6,471,721 | ) | — | ||||||||
| MUFG Securities Americas Inc. | 3,181,845 | (3,181,845 | ) | — | ||||||||
| National Bank Financial Inc. | 191,934 | (191,934 | ) | — | ||||||||
| National Financial Services LLC | 740,569 | (740,569 | ) | — | ||||||||
| NatWest Markets Securities Inc. | 767,447 | (767,447 | ) | — | ||||||||
| Nomura Securities International, Inc. | 449,506 | (449,506 | ) | — | ||||||||
| RBC Capital Markets, LLC | 551,743 | (551,743 | ) | — | ||||||||
| Scotia Capital (USA) INC | 338,296 | (338,296 | ) | — | ||||||||
| State Street Bank and Trust Co. | 45,977 | (45,977 | ) | — | ||||||||
| TD Securities (USA) Inc. | 8,948,728 | (8,948,728 | ) | — | ||||||||
| Truist Securities INC | 787,759 | (787,759 | ) | — | ||||||||
| US Bancorp Investments | 2,161,103 | (2,161,103 | ) | — | ||||||||
| Total | $ | 148,002,691 | $ | (148,002,691 | ) | $ | — | |||||
| (1) | Cash collateral with a fair value of $152,601,345 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. |
Short Duration Bond
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| Barclays Capital Inc. | $ | 124,611 | $ | (124,611 | ) | $ | — | |||||
| Citigroup Global Markets Inc. | 1,033,082 | (1,033,082 | ) | — | ||||||||
| Goldman, Sachs & Co. LLC | 455,242 | (455,242 | ) | — | ||||||||
| J.P. Morgan Securities LLC | 2,275,849 | (2,275,849 | ) | — | ||||||||
| Mizuho Securities USA LLC. | 578,908 | (578,908 | ) | — | ||||||||
| Morgan Stanley & Co. LLC | 5,729,545 | (5,729,545 | ) | — | ||||||||
| RBC Capital Markets, LLC | 9,543 | (9,543 | ) | — | ||||||||
| Truist Securities INC | 449,835 | (449,835 | ) | — | ||||||||
| Total | $ | 10,656,615 | $ | (10,656,615 | ) | $ | — | |||||
| (1) | Cash collateral with a fair value of $10,953,041 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. |
Short Duration High Income
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| BofA Securities Inc | $ | 1,548,613 | $ | (1,548,613 | ) | $ | — | |||||
| Goldman, Sachs & Co. LLC | 10,219,050 | (10,219,050 | ) | — | ||||||||
| Jefferies LLC | 151,081 | (151,081 | ) | — | ||||||||
| Truist Securities INC | 275,698 | (275,698 | ) | — | ||||||||
| Wells Fargo Securities LLC | 2,505,207 | (2,505,207 | ) | — | ||||||||
| Total | $ | 14,699,649 | $ | (14,699,649 | ) | $ | — | |||||
| (1) | Cash collateral with a fair value of $15,196,446 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. |
Strategic Income Opportunities
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| Barclays Capital Inc. | $ | 907,096 | $ | (907,096 | ) | $ | — | |||||
| BNP Paribas | 305,050 | (305,050 | ) | — | ||||||||
| BNP Paribas Prime Brokerage Int'l Ltd. | 494,152 | (494,152 | ) | — | ||||||||
| BNP Paribas Securities Corp. | 14,525 | (14,525 | ) | — | ||||||||
| Citigroup Global Markets Inc. | 1,058,918 | (1,058,918 | ) | — | ||||||||
| Deutsche Bank Securities Inc. | 52,695 | (52,695 | ) | — | ||||||||
| Deutsche Bank, AG | 755,369 | (755,369 | ) | — | ||||||||
34
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 11 — SECURITIES LENDING (continued)
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| Goldman, Sachs & Co. LLC | $ | 6,833,664 | $ | (6,833,664 | ) | $ | — | |||||
| J.P. Morgan Securities LLC | 24,780,560 | (24,780,560 | ) | — | ||||||||
| Morgan Stanley & Co. LLC | 9,688,410 | (9,688,410 | ) | — | ||||||||
| Nomura Securities International, Inc. | 329,569 | (329,569 | ) | — | ||||||||
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| RBC Capital Markets, LLC | $ | 134,801 | $ | (134,801 | ) | $ | — | |||||
| Scotia Capital (USA) INC | 281,460 | (281,460 | ) | — | ||||||||
| Societe Generale | 520,876 | (520,876 | ) | — | ||||||||
| TD Securities (USA) Inc. | 184,486 | (184,486 | ) | — | ||||||||
| Total | $ | 46,341,631 | $ | (46,341,631 | ) | $ | — | |||||
| (1) | Cash collateral with a fair value of $47,617,247 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 12 — 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, paydowns, swaps, straddle loss deferrals, and wash sale deferrals.
Dividends paid by the Funds 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 March 31, 2024 | Year Ended March 31, 2023 | |||||||||||
| Ordinary Income | Ordinary Income | Long-term Capital Gains | ||||||||||
| GNMA Income | $ | 48,022,294 | $ | 35,132,244 | $ | — | ||||||
| High Yield Bond | 31,951,958 | 32,145,490 | 3,451,344 | |||||||||
| Intermediate Bond | 340,492,684 | 256,679,701 | — | |||||||||
| Short Duration Bond | 23,544,635 | 10,347,518 | — | |||||||||
| Short Duration High Income | 4,608,971 | 257,963 | — | |||||||||
| Strategic Income Opportunities | 89,761,742 | 79,582,543 | — | |||||||||
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 March 31, 2024 were:
35
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 12 — FEDERAL INCOME TAXES (continued)
| Undistributed Ordinary Income | Undistributed Long-term Capital Gains | Unrealized Appreciation/ (Depreciation) | Capital Loss Carryforwards | Other | Total Distributable Earnings/(Loss) | |||||||||||||||||||||||
| Amount | Character | |||||||||||||||||||||||||||
| GNMA Income | $ | 192,276 | $ | — | $ | (126,436,197 | ) | $ | (80,913,785 | ) | Short-term | $ | (545,648 | ) | $ | (227,996,723 | ) | |||||||||||
| (20,293,369 | ) | Long-term | ||||||||||||||||||||||||||
| $ | (101,207,154 | ) | ||||||||||||||||||||||||||
| High Yield Bond | 177,192 | — | (4,811,008 | ) | (6,088,354 | ) | Short-term | (173,043 | ) | (50,957,894 | ) | |||||||||||||||||
| (40,062,681 | ) | Long-term | ||||||||||||||||||||||||||
| $ | (46,151,035 | ) | ||||||||||||||||||||||||||
| Intermediate Bond | 26,878,164 | — | (454,403,118 | ) | (343,827,621 | ) | Short-term | (4,387,770 | ) | (1,468,505,757 | ) | |||||||||||||||||
| (692,765,412 | ) | Long-term | ||||||||||||||||||||||||||
| $ | (1,036,593,033 | ) | ||||||||||||||||||||||||||
| Short Duration Bond | 233,682 | — | (2,111,601 | ) | (9,031,086 | ) | Short-term | (14,552 | ) | (33,234,251 | ) | |||||||||||||||||
| (22,310,694 | ) | Long-term | ||||||||||||||||||||||||||
| $ | (31,341,780 | ) | ||||||||||||||||||||||||||
| Short Duration High Income | 457,885 | 62,104 | 513,344 | — | — | (32,329 | ) | 1,001,004 | ||||||||||||||||||||
| Strategic Income Opportunities | 411,148 | — | (97,335,642 | ) | (33,226,185 | ) | Short-term | (654,843 | ) | (289,213,602 | ) | |||||||||||||||||
| (158,408,080 | ) | Long-term | ||||||||||||||||||||||||||
| $ | (191,634,265 | ) | ||||||||||||||||||||||||||
The Funds’ major tax jurisdictions are U.S. federal and Arizona state.
As of September 30, 2024, no provision for income tax is required in the Funds’ financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Funds’ 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 13 — 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 Fund 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 Fund 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
36
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 13 — LONDON INTERBANK OFFERED RATE (“LIBOR”) (continued)
could be other consequences which cannot be predicted.
NOTE 14 — MARKET DISRUPTION AND GEOPOLITICAL RISK
A Fund 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 Fund's investments. Any of these occurrences could disrupt the operations of a Fund and of a Fund's service providers.
NOTE 15 — SUBSEQUENT EVENTS
Dividends: Subsequent to September 30, 2024, the Funds declared dividends from net investment income of:
| Per Share Amount | Payable Date | Record Date | |||||
| GNMA Income | |||||||
| Class A | $ | 0.0210 | November 1, 2024 | Daily | |||
| Class C | $ | 0.0161 | November 1, 2024 | Daily | |||
| Class I | $ | 0.0229 | November 1, 2024 | Daily | |||
| Class R6 | $ | 0.0233 | November 1, 2024 | Daily | |||
| Class W | $ | 0.0227 | November 1, 2024 | Daily | |||
| High Yield Bond | |||||||
| Class A | $ | 0.0383 | November 1, 2024 | Daily | |||
| Class C | $ | 0.0338 | November 1, 2024 | Daily | |||
| Class I | $ | 0.0403 | November 1, 2024 | Daily | |||
| Class R | $ | 0.0368 | November 1, 2024 | Daily | |||
| Class R6 | $ | 0.0408 | November 1, 2024 | Daily | |||
| Class W | $ | 0.0399 | November 1, 2024 | Daily | |||
| Intermediate Bond | |||||||
| Class A | $ | 0.0361 | November 1, 2024 | Daily | |||
| Class C | $ | 0.0303 | November 1, 2024 | Daily | |||
| Class I | $ | 0.0388 | November 1, 2024 | Daily | |||
| Class R | $ | 0.0342 | November 1, 2024 | Daily | |||
| Class R6 | $ | 0.0393 | November 1, 2024 | Daily | |||
| Class W | $ | 0.0379 | November 1, 2024 | Daily | |||
| Short Duration Bond | |||||||
| Class A | $ | 0.0361 | November 1, 2024 | Daily | |||
| Class C | $ | 0.0302 | November 1, 2024 | Daily | |||
| Class I | $ | 0.0383 | November 1, 2024 | Daily | |||
| Class R | $ | 0.0343 | November 1, 2024 | Daily | |||
| Class R6 | $ | 0.0387 | November 1, 2024 | Daily | |||
| Class W | $ | 0.0383 | November 1, 2024 | Daily | |||
| Short Duration High Income | |||||||
| Class A | $ | 0.0661 | November 1, 2024 | Daily | |||
| Class C | $ | 0.0603 | November 1, 2024 | Daily | |||
| Class I | $ | 0.0683 | November 1, 2024 | Daily | |||
| Class R6 | $ | 0.0683 | November 1, 2024 | Daily | |||
| Strategic Income Opportunities | |||||||
| Class A | $ | 0.0426 | November 1, 2024 | Daily | |||
| Class C | $ | 0.0362 | November 1, 2024 | Daily | |||
| Class I | $ | 0.0446 | November 1, 2024 | Daily | |||
| Class R | $ | 0.0403 | November 1, 2024 | Daily | |||
| Class R6 | $ | 0.0450 | November 1, 2024 | Daily | |||
| Class W | $ | 0.0444 | November 1, 2024 | Daily | |||
The Funds 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
37
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (unaudited) (continued)
NOTE 15 — SUBSEQUENT EVENTS (continued)
statements. Other than the above, no such subsequent events were identified.
38
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: 78.5% | ||||||||||
| Federal Home Loan Mortgage Corporation: 1.4%(1) | ||||||||||
| 614,279 | 3.500%, 07/01/2047 | $ | 580,567 | 0.1 | ||||||
| 1,347,255 | 3.500%, 12/01/2047 | 1,278,311 | 0.1 | |||||||
| 2,607,628 | 3.500%, 03/01/2048 | 2,474,494 | 0.2 | |||||||
| 2,907,645 | 3.500%, 11/01/2048 | 2,758,798 | 0.2 | |||||||
| 829,657 | 4.000%, 07/01/2047 | 808,467 | 0.1 | |||||||
| 336,534 | 4.500%, 08/01/2047 | 337,045 | 0.0 | |||||||
| 3,275,000 | 4.720%, 10/01/2024 | 3,274,578 | 0.3 | |||||||
| 1,400,000 | 4.730%, 10/15/2024 | 1,397,293 | 0.1 | |||||||
| 343,394 | 5.000%, 11/01/2035 | 353,200 | 0.0 | |||||||
| 18,798 | 5.000%, 12/01/2035 | 19,327 | 0.0 | |||||||
| 8,358 | 5.000%, 01/01/2038 | 8,622 | 0.0 | |||||||
| 8,385 | 5.000%, 03/01/2038 | 8,651 | 0.0 | |||||||
| 33,641 | 5.000%, 03/01/2038 | 34,706 | 0.0 | |||||||
| 93,458 | 5.000%, 02/01/2039 | 95,844 | 0.0 | |||||||
| 344,468 | 5.000%, 07/01/2039 | 355,386 | 0.1 | |||||||
| 112,091 | 5.000%, 01/01/2040 | 115,647 | 0.0 | |||||||
| 401,485 | 5.000%, 04/01/2040 | 411,731 | 0.1 | |||||||
| 1,241,436 | 5.000%, 10/01/2040 | 1,280,800 | 0.1 | |||||||
| 143,778 | 5.000%, 05/01/2041 | 147,807 | 0.0 | |||||||
| 120,209 | 5.290%, 10/01/2037 | 124,039 | 0.0 | |||||||
| 22,192 | 5.410%, 07/01/2037 | 22,922 | 0.0 | |||||||
| 6,895 | 5.410%, 08/01/2037 | 6,945 | 0.0 | |||||||
| 31,932 | 5.440%, 01/01/2037 | 32,961 | 0.0 | |||||||
| 41,528 | 5.440%, 04/01/2037 | 42,895 | 0.0 | |||||||
| 26,281 | 5.440%, 09/01/2037 | 27,083 | 0.0 | |||||||
| 24,769 | 5.440%, 02/01/2038 | 25,563 | 0.0 | |||||||
| 89,637 | 5.450%, 12/01/2037 | 91,907 | 0.0 | |||||||
| 114,701 | 5.450%, 12/01/2037 | 117,282 | 0.0 | |||||||
| 29,673 | 5.460%, 08/01/2037 | 30,604 | 0.0 | |||||||
| 32,930 | 5.460%, 01/01/2038 | 33,730 | 0.0 | |||||||
| 47,977 | 5.500%, 08/01/2037 | 49,472 | 0.0 | |||||||
| 78,522 | 5.500%, 11/01/2037 | 80,976 | 0.0 | |||||||
| 31,999 | 5.620%, 12/01/2036 | 33,377 | 0.0 | |||||||
| 34,313 | 5.620%, 03/01/2037 | 35,572 | 0.0 | |||||||
| 55,655 | 5.620%, 08/01/2037 | 57,731 | 0.0 | |||||||
| 64,691 | 5.625%, 12/01/2036 | 67,382 | 0.0 | |||||||
| 83,116 | 5.625%, 01/01/2037 | 86,197 | 0.0 | |||||||
| 83,686 | 5.625%, 03/01/2037 | 86,989 | 0.0 | |||||||
| 78,942 | 5.625%, 06/01/2037 | 81,822 | 0.0 | |||||||
| 68,466 | 5.625%, 07/01/2037 | 71,299 | 0.0 | |||||||
| 37,682 | 5.625%, 02/01/2038 | 39,358 | 0.0 | |||||||
| 292,919 | 5.750%, 09/01/2037 | 305,201 | 0.0 | |||||||
| 50,879 | 5.750%, 10/01/2037 | 53,281 | 0.0 | |||||||
| 82,557 | 6.090%, 12/01/2037 | 85,273 | 0.0 | |||||||
| 2,676 | 7.500%, 01/01/2030 | 2,769 | 0.0 | |||||||
| 17,433,904 | 1.4 | |||||||||
| Federal National Mortgage Association: 0.5%(1) | ||||||||||
| 58,663 | 3.125%, 11/01/2041 | 55,515 | 0.0 | |||||||
| 24,261 | 3.250%, 04/01/2041 | 24,015 | 0.0 | |||||||
| 87,222 | 3.475%, 10/01/2041 | 84,108 | 0.0 | |||||||
| 70,420 | 3.750%, 09/01/2041 | 68,668 | 0.0 | |||||||
| 57,290 | 3.750%, 10/01/2041 | 55,633 | 0.0 | |||||||
| 4,114,717 | 4.000%, 07/01/2056 | 3,964,062 | 0.3 | |||||||
| 647,657 | 4.500%, 09/01/2047 | 649,983 | 0.1 | |||||||
| 79,933 | 5.290%, 09/01/2037 | 79,922 | 0.0 | |||||||
| 233,546 | 5.290%, 11/01/2037 | 235,653 | 0.0 | |||||||
| 70,028 | 5.290%, 12/01/2037 | 69,440 | 0.0 | |||||||
| 108,514 | 5.290%, 04/01/2038 | 108,581 | 0.0 | |||||||
| 31,399 | 5.350%, 04/01/2029 | 31,268 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Federal National Mortgage Association (continued) | ||||||||||
| 58,325 | 5.390%, 05/01/2038 | $ | 58,357 | 0.0 | ||||||
| 107,949 | 5.440%, 08/01/2047 | 108,203 | 0.0 | |||||||
| 155,271 | 5.440%, 08/01/2047 | 155,848 | 0.0 | |||||||
| 164,655 | 5.440%, 08/01/2047 | 165,312 | 0.0 | |||||||
| 166,083 | 5.440%, 09/01/2047 | 166,752 | 0.0 | |||||||
| 259,645 | 5.440%, 10/01/2047 | 261,347 | 0.1 | |||||||
| 55,488 | 5.620%, 12/01/2036 | 56,125 | 0.0 | |||||||
| 96,938 | 5.890%, 08/01/2047 | 97,061 | 0.0 | |||||||
| 104,297 | 5.890%, 10/01/2047 | 104,654 | 0.0 | |||||||
| 4,391 | 6.600%, 07/01/2027 | 4,378 | 0.0 | |||||||
| 6,604,885 | 0.5 | |||||||||
| Government National Mortgage Association: 72.6% | ||||||||||
| 4,484,382 | 2.000%, 08/20/2050 | 3,813,173 | 0.3 | |||||||
| 31,541,981 | 2.000%, 12/20/2050 | 26,790,329 | 2.1 | |||||||
| 17,534,091 | 2.000%, 01/20/2051 | 14,888,607 | 1.2 | |||||||
| 14,768,537 | 2.000%, 02/20/2051 | 12,537,445 | 1.0 | |||||||
| 6,800,515 | 2.000%, 06/20/2051 | 5,770,471 | 0.5 | |||||||
| 12,094,784 | 2.000%, 08/20/2051 | 10,262,750 | 0.8 | |||||||
| 3,436,959 | 2.000%, 10/20/2051 | 2,916,345 | 0.2 | |||||||
| 2,402,902 | 2.000%, 11/20/2051 | 2,038,913 | 0.2 | |||||||
| 20,275,037 | 2.000%, 12/20/2051 | 17,203,736 | 1.4 | |||||||
| 57,147,015 | 2.000%, 03/20/2052 | 48,508,230 | 3.9 | |||||||
| 9,023,780 | 2.500%, 12/20/2050 | 7,934,047 | 0.6 | |||||||
| 32,308,976 | 2.500%, 03/20/2051 | 28,531,897 | 2.3 | |||||||
| 16,304,544 | 2.500%, 04/20/2051 | 14,391,006 | 1.2 | |||||||
| 16,170,728 | 2.500%, 05/20/2051 | 14,274,383 | 1.1 | |||||||
| 1,137,116 | 2.500%, 06/20/2051 | 1,002,182 | 0.1 | |||||||
| 3,730,138 | 2.500%, 08/20/2051 | 3,289,505 | 0.3 | |||||||
| 27,343,825 | 2.500%, 09/20/2051 | 24,107,647 | 1.9 | |||||||
| 38,033,967 | 2.500%, 10/20/2051 | 33,532,191 | 2.7 | |||||||
| 28,503,604 | 2.500%, 11/20/2051 | 25,129,856 | 2.0 | |||||||
| 3,731,800 | 2.500%, 12/20/2051 | 3,290,354 | 0.3 | |||||||
| 16,461,355 | 2.500%, 03/20/2052 | 14,512,586 | 1.2 | |||||||
| 8,180,000 (2) | 2.500%, 10/20/2054 | 7,210,227 | 0.6 | |||||||
| 120,887 | 3.000%, 12/15/2041 | 114,313 | 0.0 | |||||||
| 78,837 | 3.000%, 01/15/2042 | 72,918 | 0.0 | |||||||
| 158,121 | 3.000%, 01/15/2042 | 149,888 | 0.0 | |||||||
| 158,674 | 3.000%, 01/15/2042 | 150,246 | 0.0 | |||||||
| 446,305 | 3.000%, 02/15/2042 | 417,218 | 0.0 | |||||||
| 154,341 | 3.000%, 03/15/2042 | 144,282 | 0.0 | |||||||
| 129,458 | 3.000%, 04/15/2042 | 119,740 | 0.0 | |||||||
| 53,439 | 3.000%, 05/15/2042 | 50,655 | 0.0 | |||||||
| 41,975 | 3.000%, 06/15/2042 | 38,824 | 0.0 | |||||||
| 22,620,932 | 3.000%, 04/20/2045 | 21,018,199 | 1.7 | |||||||
| 319,691 | 3.000%, 11/20/2045 | 291,713 | 0.0 | |||||||
| 56,107 | 3.000%, 12/20/2045 | 51,184 | 0.0 | |||||||
| 87,495 | 3.000%, 12/20/2045 | 79,818 | 0.0 | |||||||
| 89,979 | 3.000%, 12/20/2045 | 82,091 | 0.0 | |||||||
| 51,425 | 3.000%, 01/20/2046 | 46,926 | 0.0 | |||||||
| 1,909,508 | 3.000%, 02/20/2050 | 1,704,222 | 0.1 | |||||||
| 2,571,294 | 3.000%, 10/20/2051 | 2,347,346 | 0.2 | |||||||
| 21,693,416 | 3.000%, 10/20/2051 | 19,357,677 | 1.6 | |||||||
| 17,285,058 | 3.000%, 11/20/2051 | 15,424,023 | 1.2 | |||||||
| 1,402,056 | 3.000%, 01/20/2052 | 1,279,404 | 0.1 | |||||||
| 7,842,653 | 3.000%, 03/20/2052 | 7,129,608 | 0.6 | |||||||
| 3,630,755 | 3.000%, 04/20/2052 | 3,312,827 | 0.3 | |||||||
| 17,000,000 (2) | 3.000%, 10/20/2054 | 15,504,512 | 1.2 | |||||||
| 46,305 | 3.250%, 03/15/2041 | 43,961 | 0.0 | |||||||
| 231,296 | 3.250%, 04/15/2041 | 219,731 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
39
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Government National Mortgage Association (continued) | ||||||||||
| 69,575 | 3.250%, 05/15/2041 | $ | 66,117 | 0.0 | ||||||
| 322,927 | 3.250%, 06/15/2041 | 306,933 | 0.0 | |||||||
| 55,038 | 3.250%, 07/15/2041 | 52,209 | 0.0 | |||||||
| 333,526 | 3.250%, 07/15/2041 | 316,693 | 0.0 | |||||||
| 574,156 | 3.250%, 08/15/2041 | 545,537 | 0.1 | |||||||
| 181,132 | 3.250%, 09/15/2041 | 172,164 | 0.0 | |||||||
| 240,599 | 3.250%, 09/15/2041 | 228,687 | 0.0 | |||||||
| 38,472 | 3.250%, 11/15/2041 | 36,494 | 0.0 | |||||||
| 132,347 | 3.250%, 11/15/2041 | 125,793 | 0.0 | |||||||
| 61,189 | 3.250%, 12/15/2041 | 58,158 | 0.0 | |||||||
| 35,852 | 3.250%, 04/15/2042 | 34,008 | 0.0 | |||||||
| 27,026 | 3.250%, 06/15/2042 | 25,673 | 0.0 | |||||||
| 73,537 | 3.250%, 06/15/2042 | 69,756 | 0.0 | |||||||
| 785,030 | 3.500%, 04/20/2043 | 743,010 | 0.1 | |||||||
| 911,807 | 3.500%, 06/20/2045 | 865,825 | 0.1 | |||||||
| 2,289,561 | 3.500%, 04/20/2046 | 2,182,107 | 0.2 | |||||||
| 3,467,423 | 3.500%, 03/20/2047 | 3,348,214 | 0.3 | |||||||
| 436,309 | 3.500%, 07/20/2047 | 414,598 | 0.0 | |||||||
| 711,262 | 3.500%, 07/20/2047 | 676,822 | 0.1 | |||||||
| 17,982,327 | 3.500%, 12/20/2047 | 17,062,568 | 1.4 | |||||||
| 6,575,560 | 3.500%, 01/20/2048 | 6,252,907 | 0.5 | |||||||
| 2,519,660 | 3.500%, 02/20/2048 | 2,403,023 | 0.2 | |||||||
| 4,894,112 | 3.500%, 02/20/2048 | 4,647,148 | 0.4 | |||||||
| 9,410,019 | 3.500%, 03/20/2048 | 8,949,246 | 0.7 | |||||||
| 15,282,777 | 3.500%, 03/20/2052 | 14,361,473 | 1.2 | |||||||
| 77,000,000 (2) | 3.500%, 10/20/2054 | 72,349,582 | 5.8 | |||||||
| 59,751 | 3.640%, 10/20/2064 | 58,977 | 0.0 | |||||||
| 47,466 | 3.650%, 12/15/2040 | 46,193 | 0.0 | |||||||
| 13,189 | 3.750%, 09/15/2041 | 13,096 | 0.0 | |||||||
| 229,398 | 3.750%, 09/15/2041 | 223,792 | 0.0 | |||||||
| 69,135 | 3.750%, 10/15/2041 | 67,608 | 0.0 | |||||||
| 100,537 | 3.750%, 10/15/2041 | 98,316 | 0.0 | |||||||
| 1,642,527 | 3.750%, 05/20/2042 | 1,571,224 | 0.1 | |||||||
| 2,341,841 | 3.750%, 05/20/2042 | 2,232,980 | 0.2 | |||||||
| 120,615 | 3.900%, 10/15/2041 | 118,717 | 0.0 | |||||||
| 43,861 | 4.000%, 05/20/2033 | 42,468 | 0.0 | |||||||
| 24,872 | 4.000%, 01/15/2034 | 24,633 | 0.0 | |||||||
| 262,912 | 4.000%, 05/20/2034 | 260,170 | 0.0 | |||||||
| 303,327 | 4.000%, 07/20/2034 | 300,097 | 0.0 | |||||||
| 360,198 | 4.000%, 07/20/2034 | 356,899 | 0.0 | |||||||
| 66,187 | 4.000%, 08/20/2035 | 65,317 | 0.0 | |||||||
| 585,299 | 4.000%, 09/20/2040 | 569,408 | 0.1 | |||||||
| 921,014 | 4.000%, 07/20/2041 | 882,420 | 0.1 | |||||||
| 3,931,056 | 4.000%, 08/20/2042 | 3,903,467 | 0.3 | |||||||
| 105,441 | 4.000%, 09/15/2042 | 103,840 | 0.0 | |||||||
| 608,064 | 4.000%, 10/20/2043 | 607,914 | 0.1 | |||||||
| 1,148,216 | 4.000%, 12/20/2044 | 1,121,754 | 0.1 | |||||||
| 1,056,821 | 4.000%, 01/20/2045 | 1,032,463 | 0.1 | |||||||
| 270,104 | 4.000%, 06/20/2045 | 266,542 | 0.0 | |||||||
| 1,111,210 | 4.000%, 07/20/2045 | 1,092,047 | 0.1 | |||||||
| 1,234,770 | 4.000%, 09/20/2045 | 1,216,962 | 0.1 | |||||||
| 61,142 | 4.000%, 12/20/2045 | 60,275 | 0.0 | |||||||
| 309,856 | 4.000%, 01/20/2046 | 301,034 | 0.0 | |||||||
| 2,414,369 | 4.000%, 01/20/2046 | 2,382,535 | 0.2 | |||||||
| 56,812 | 4.000%, 02/20/2046 | 55,957 | 0.0 | |||||||
| 1,399,529 | 4.000%, 03/20/2046 | 1,374,175 | 0.1 | |||||||
| 687,986 | 4.000%, 04/20/2046 | 677,431 | 0.1 | |||||||
| 294,864 | 4.000%, 08/20/2046 | 289,250 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Government National Mortgage Association (continued) | ||||||||||
| 1,111,358 | 4.000%, 09/20/2047 | $ | 1,074,692 | 0.1 | ||||||
| 10,906,103 | 4.000%, 02/20/2050 | 10,634,493 | 0.9 | |||||||
| 10,826,619 | 4.000%, 06/20/2052 | 10,476,465 | 0.8 | |||||||
| 4,326 | 4.294%, 09/20/2062 | 4,241 | 0.0 | |||||||
| 4,315 | 4.364%, 04/20/2066 | 4,266 | 0.0 | |||||||
| 302,088 | 4.404%, 01/20/2065 | 299,107 | 0.0 | |||||||
| 742,728 | 4.404%, 02/20/2065 | 735,187 | 0.1 | |||||||
| 535,784 | 4.409%, 01/20/2065 | 530,104 | 0.1 | |||||||
| 5,592 | 4.426%, 10/20/2067 | 5,530 | 0.0 | |||||||
| 103,333 | 4.450%, 07/15/2040 | 100,698 | 0.0 | |||||||
| 57,915 | 4.450%, 09/15/2040 | 57,299 | 0.0 | |||||||
| 10,594 | 4.475%, 02/20/2068 | 10,483 | 0.0 | |||||||
| 4,436 | 4.500%, 07/20/2036 | 4,479 | 0.0 | |||||||
| 345,278 | 4.500%, 10/15/2039 | 349,346 | 0.0 | |||||||
| 235,196 | 4.500%, 11/15/2039 | 237,809 | 0.0 | |||||||
| 255,798 | 4.500%, 11/15/2039 | 259,033 | 0.0 | |||||||
| 79,456 | 4.500%, 12/15/2039 | 80,323 | 0.0 | |||||||
| 197,559 | 4.500%, 01/15/2040 | 199,267 | 0.0 | |||||||
| 22,541 | 4.500%, 01/20/2040 | 22,421 | 0.0 | |||||||
| 898,092 | 4.500%, 02/15/2040 | 897,976 | 0.1 | |||||||
| 47,634 | 4.500%, 06/15/2040 | 47,635 | 0.0 | |||||||
| 21,145 | 4.500%, 07/20/2040 | 21,033 | 0.0 | |||||||
| 74,829 | 4.500%, 08/20/2040 | 74,434 | 0.0 | |||||||
| 506,552 | 4.500%, 09/20/2041 | 512,804 | 0.1 | |||||||
| 180,392 | 4.500%, 10/20/2048 | 180,433 | 0.0 | |||||||
| 84,497 | 4.500%, 11/20/2048 | 84,512 | 0.0 | |||||||
| 2,564,087 | 4.500%, 12/20/2048 | 2,564,536 | 0.2 | |||||||
| 63,287 | 4.500%, 01/20/2049 | 63,292 | 0.0 | |||||||
| 4,467,145 | 4.500%, 02/20/2049 | 4,467,233 | 0.4 | |||||||
| 218,040 | 4.500%, 03/20/2049 | 218,055 | 0.0 | |||||||
| 35,821 | 4.500%, 05/20/2049 | 35,762 | 0.0 | |||||||
| 3,930,271 | 4.500%, 11/20/2049 | 3,891,949 | 0.3 | |||||||
| 4,912,161 | 4.500%, 12/20/2049 | 4,912,511 | 0.4 | |||||||
| 8,570,104 | 4.500%, 10/20/2052 | 8,476,462 | 0.7 | |||||||
| 682,690 | 4.500%, 01/20/2053 | 674,909 | 0.1 | |||||||
| 9,075,450 | 4.500%, 02/20/2053 | 8,972,013 | 0.7 | |||||||
| 30,050,000 (2) | 4.500%, 10/20/2054 | 29,674,987 | 2.4 | |||||||
| 3,690 | 4.517%, 04/20/2065 | 3,655 | 0.0 | |||||||
| 23,404 | 4.580%, 01/20/2034 | 23,371 | 0.0 | |||||||
| 36,225 | 4.580%, 03/20/2034 | 36,174 | 0.0 | |||||||
| 28,446 | 4.580%, 04/20/2034 | 28,406 | 0.0 | |||||||
| 36,831 | 4.580%, 04/20/2034 | 36,779 | 0.0 | |||||||
| 36,142 | 4.580%, 06/20/2034 | 36,091 | 0.0 | |||||||
| 66,632 | 4.693%, 10/20/2064 | 66,046 | 0.0 | |||||||
| 453 | 4.700%, 06/20/2061 | 451 | 0.0 | |||||||
| 32,152 | 4.700%, 09/20/2064 | 31,917 | 0.0 | |||||||
| 54,808 | 4.700%, 09/20/2064 | 54,396 | 0.0 | |||||||
| 250,490 | 4.750%, 06/15/2029 | 251,955 | 0.0 | |||||||
| 52,037 | 4.750%, 01/15/2030 | 52,324 | 0.0 | |||||||
| 43,415 | 4.750%, 06/20/2033 | 43,199 | 0.0 | |||||||
| 16,472 | 4.750%, 07/20/2033 | 16,391 | 0.0 | |||||||
| 28,315 | 4.750%, 07/20/2033 | 28,015 | 0.0 | |||||||
| 39,188 | 4.750%, 07/20/2033 | 38,992 | 0.0 | |||||||
| 21,749 | 4.750%, 08/20/2033 | 21,599 | 0.0 | |||||||
| 43,100 | 4.750%, 08/20/2033 | 42,800 | 0.0 | |||||||
| 18,148 | 4.750%, 09/20/2033 | 18,022 | 0.0 | |||||||
| 25,188 | 4.750%, 10/20/2033 | 25,275 | 0.0 | |||||||
| 20,292 | 4.750%, 11/20/2033 | 20,152 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
40
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Government National Mortgage Association (continued) | ||||||||||
| 18,162 | 4.750%, 12/20/2033 | $ | 18,028 | 0.0 | ||||||
| 140,451 | 4.750%, 09/15/2034 | 142,034 | 0.0 | |||||||
| 17,849 | 4.920%, 04/20/2033 | 17,669 | 0.0 | |||||||
| 37,222 | 4.920%, 04/20/2033 | 37,135 | 0.0 | |||||||
| 22,225 | 4.920%, 05/20/2033 | 22,145 | 0.0 | |||||||
| 22,417 | 4.920%, 05/20/2033 | 22,294 | 0.0 | |||||||
| 24,425 | 4.920%, 05/20/2033 | 24,338 | 0.0 | |||||||
| 304,527 | 5.000%, 04/20/2030 | 308,385 | 0.0 | |||||||
| 122,675 | 5.000%, 07/15/2033 | 125,543 | 0.0 | |||||||
| 27,758 | 5.000%, 03/15/2034 | 27,815 | 0.0 | |||||||
| 53,640 | 5.000%, 01/15/2035 | 54,377 | 0.0 | |||||||
| 6,882 | 5.000%, 03/15/2035 | 7,055 | 0.0 | |||||||
| 37,021 | 5.000%, 03/15/2035 | 36,698 | 0.0 | |||||||
| 17,721 | 5.000%, 04/15/2035 | 17,913 | 0.0 | |||||||
| 132,739 | 5.000%, 04/15/2035 | 135,819 | 0.0 | |||||||
| 12,047 | 5.000%, 05/15/2035 | 12,408 | 0.0 | |||||||
| 32,155 | 5.000%, 05/20/2035 | 33,003 | 0.0 | |||||||
| 179,623 | 5.000%, 11/20/2035 | 184,623 | 0.0 | |||||||
| 84,647 | 5.000%, 04/20/2036 | 86,796 | 0.0 | |||||||
| 13,040 | 5.000%, 08/20/2038 | 13,255 | 0.0 | |||||||
| 151,620 | 5.000%, 10/20/2038 | 152,995 | 0.0 | |||||||
| 26,958 | 5.000%, 11/20/2038 | 26,743 | 0.0 | |||||||
| 101,721 | 5.000%, 01/20/2039 | 103,379 | 0.0 | |||||||
| 32,794 | 5.000%, 02/15/2039 | 33,860 | 0.0 | |||||||
| 141,391 | 5.000%, 03/15/2039 | 145,204 | 0.0 | |||||||
| 53,884 | 5.000%, 11/15/2039 | 54,914 | 0.0 | |||||||
| 415,507 | 5.000%, 11/15/2039 | 421,222 | 0.0 | |||||||
| 522,184 | 5.000%, 11/15/2039 | 532,889 | 0.1 | |||||||
| 52,105 | 5.000%, 04/15/2040 | 53,053 | 0.0 | |||||||
| 557,484 | 5.000%, 09/15/2040 | 563,558 | 0.1 | |||||||
| 380,801 | 5.000%, 07/20/2041 | 391,431 | 0.0 | |||||||
| 20,208,531 | 5.000%, 11/20/2052 | 20,279,957 | 1.6 | |||||||
| 84,702,000 (2) | 5.000%, 10/20/2054 | 84,850,855 | 6.8 | |||||||
| 11,839 | 5.250%, 06/15/2028 | 11,939 | 0.0 | |||||||
| 35,181 | 5.250%, 06/15/2029 | 35,469 | 0.0 | |||||||
| 725,409 | 5.250%, 01/20/2036 | 740,457 | 0.1 | |||||||
| 100,029 | 5.290%, 07/20/2037 | 105,139 | 0.0 | |||||||
| 67,596 | 5.290%, 08/20/2037 | 70,884 | 0.0 | |||||||
| 86,776 | 5.290%, 09/20/2037 | 91,109 | 0.0 | |||||||
| 107,887 | 5.290%, 09/20/2037 | 113,406 | 0.0 | |||||||
| 100,608 | 5.290%, 01/20/2038 | 105,756 | 0.0 | |||||||
| 19,673 | 5.350%, 04/20/2029 | 19,595 | 0.0 | |||||||
| 18,053 | 5.350%, 06/20/2029 | 17,982 | 0.0 | |||||||
| 60,737 | 5.350%, 07/20/2033 | 61,121 | 0.0 | |||||||
| 10,505 | 5.350%, 08/20/2033 | 10,583 | 0.0 | |||||||
| 59,369 | 5.390%, 08/20/2038 | 58,912 | 0.0 | |||||||
| 65,143 | 5.390%, 09/15/2038 | 67,404 | 0.0 | |||||||
| 21,128 | 5.490%, 08/20/2033 | 21,703 | 0.0 | |||||||
| 35,707 | 5.490%, 09/20/2033 | 36,614 | 0.0 | |||||||
| 37,727 | 5.490%, 09/20/2033 | 38,755 | 0.0 | |||||||
| 98,829 | 5.490%, 09/20/2033 | 101,335 | 0.0 | |||||||
| 148,568 | 5.490%, 10/20/2033 | 150,058 | 0.0 | |||||||
| 225,716 | 5.490%, 10/20/2033 | 231,296 | 0.0 | |||||||
| 115,416 | 5.490%, 11/20/2033 | 118,342 | 0.0 | |||||||
| 189,381 | 5.490%, 11/20/2033 | 193,315 | 0.0 | |||||||
| 99,781 | 5.490%, 12/20/2033 | 102,314 | 0.0 | |||||||
| 138,030 | 5.490%, 12/20/2033 | 141,786 | 0.0 | |||||||
| 184,509 | 5.490%, 12/20/2033 | 188,358 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Government National Mortgage Association (continued) | ||||||||||
| 38,040 | 5.490%, 01/20/2034 | $ | 39,076 | 0.0 | ||||||
| 32,366 | 5.490%, 03/20/2034 | 33,245 | 0.0 | |||||||
| 74,602 | 5.490%, 03/20/2034 | 76,239 | 0.0 | |||||||
| 32,694 | 5.490%, 06/20/2034 | 33,584 | 0.0 | |||||||
| 78 | 5.500%, 04/20/2029 | 79 | 0.0 | |||||||
| 79,206 | 5.500%, 09/15/2029 | 80,772 | 0.0 | |||||||
| 57,053 | 5.500%, 10/15/2029 | 57,923 | 0.0 | |||||||
| 17,253 | 5.500%, 12/20/2032 | 17,967 | 0.0 | |||||||
| 54,993 | 5.500%, 08/20/2033 | 56,935 | 0.0 | |||||||
| 46,204 | 5.500%, 11/20/2033 | 46,072 | 0.0 | |||||||
| 15,969 | 5.500%, 12/20/2033 | 16,641 | 0.0 | |||||||
| 52,397 | 5.500%, 03/20/2034 | 52,226 | 0.0 | |||||||
| 85,160 | 5.500%, 04/20/2034 | 85,066 | 0.0 | |||||||
| 94,235 | 5.500%, 04/20/2034 | 98,204 | 0.0 | |||||||
| 36,138 | 5.500%, 06/20/2034 | 36,016 | 0.0 | |||||||
| 79,375 | 5.500%, 06/20/2034 | 81,451 | 0.0 | |||||||
| 59,818 | 5.500%, 07/20/2034 | 61,900 | 0.0 | |||||||
| 87,595 | 5.500%, 01/20/2035 | 87,423 | 0.0 | |||||||
| 59,756 | 5.500%, 05/15/2035 | 61,890 | 0.0 | |||||||
| 4,456 | 5.500%, 06/20/2035 | 4,440 | 0.0 | |||||||
| 134,067 | 5.500%, 07/15/2035 | 138,846 | 0.0 | |||||||
| 70,376 | 5.500%, 08/15/2035 | 72,887 | 0.0 | |||||||
| 70,458 | 5.500%, 09/20/2035 | 72,303 | 0.0 | |||||||
| 128,835 | 5.500%, 04/15/2036 | 134,866 | 0.0 | |||||||
| 22,942 | 5.500%, 06/20/2036 | 23,910 | 0.0 | |||||||
| 2,001 | 5.500%, 06/20/2038 | 2,030 | 0.0 | |||||||
| 10,562 | 5.500%, 08/20/2038 | 10,731 | 0.0 | |||||||
| 6,851 | 5.500%, 09/20/2038 | 6,940 | 0.0 | |||||||
| 1,352 | 5.500%, 10/20/2038 | 1,350 | 0.0 | |||||||
| 13,807 | 5.500%, 11/20/2038 | 14,007 | 0.0 | |||||||
| 684 | 5.500%, 12/20/2038 | 693 | 0.0 | |||||||
| 43,200 | 5.500%, 01/15/2039 | 44,852 | 0.0 | |||||||
| 5,217 | 5.500%, 01/20/2039 | 5,177 | 0.0 | |||||||
| 22,280 | 5.500%, 06/15/2039 | 23,321 | 0.0 | |||||||
| 14,723 | 5.500%, 06/20/2039 | 14,687 | 0.0 | |||||||
| 17,617 | 5.500%, 10/20/2039 | 18,362 | 0.0 | |||||||
| 151,917 | 5.500%, 09/15/2040 | 158,291 | 0.0 | |||||||
| 1,314,351 | 5.500%, 05/20/2054 | 1,347,666 | 0.1 | |||||||
| 2,216,652 | 5.500%, 05/20/2054 | 2,259,903 | 0.2 | |||||||
| 2,485,329 | 5.500%, 05/20/2054 | 2,530,923 | 0.2 | |||||||
| 107,229,000 (2) | 5.500%, 10/20/2054 | 108,278,334 | 8.6 | |||||||
| 32,169 | 5.580%, 12/20/2033 | 33,402 | 0.0 | |||||||
| 81,654 | 5.580%, 01/20/2034 | 84,588 | 0.0 | |||||||
| 40,727 | 5.580%, 02/20/2034 | 42,191 | 0.0 | |||||||
| 33,302 | 5.580%, 03/20/2034 | 34,500 | 0.0 | |||||||
| 39,263 | 5.580%, 04/20/2034 | 40,785 | 0.0 | |||||||
| 51,912 | 5.580%, 04/20/2034 | 54,017 | 0.0 | |||||||
| 106,427 | 5.580%, 04/20/2034 | 110,256 | 0.0 | |||||||
| 29,389 | 5.580%, 06/20/2034 | 30,598 | 0.0 | |||||||
| 46,360 | 5.580%, 09/20/2034 | 48,158 | 0.0 | |||||||
| 166,732 | 5.590%, 06/20/2033 | 172,748 | 0.0 | |||||||
| 11,098 | 5.590%, 07/20/2033 | 11,117 | 0.0 | |||||||
| 25,492 | 5.590%, 07/20/2033 | 26,534 | 0.0 | |||||||
| 76,371 | 5.590%, 07/20/2033 | 79,127 | 0.0 | |||||||
| 127,424 | 5.590%, 07/20/2033 | 132,021 | 0.0 | |||||||
| 67,816 | 5.590%, 08/20/2033 | 70,264 | 0.0 | |||||||
| 18,205 | 5.590%, 09/20/2033 | 18,394 | 0.0 | |||||||
| 34,141 | 5.590%, 09/20/2033 | 35,536 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
41
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Government National Mortgage Association (continued) | ||||||||||
| 134,769 | 5.590%, 09/20/2033 | $ | 139,635 | 0.0 | ||||||
| 51,472 | 5.590%, 10/20/2033 | 53,569 | 0.0 | |||||||
| 21,911 | 5.590%, 11/20/2033 | 22,750 | 0.0 | |||||||
| 35,906 | 5.590%, 11/20/2033 | 36,485 | 0.0 | |||||||
| 39,528 | 5.590%, 11/20/2033 | 41,142 | 0.0 | |||||||
| 62,924 | 5.590%, 12/20/2033 | 65,315 | 0.0 | |||||||
| 70,867 | 5.740%, 09/20/2037 | 73,593 | 0.0 | |||||||
| 218,122 | 5.740%, 09/20/2037 | 226,512 | 0.0 | |||||||
| 74,831 | 5.740%, 10/20/2037 | 77,710 | 0.0 | |||||||
| 75,536 | 5.740%, 04/20/2038 | 78,436 | 0.0 | |||||||
| 183,305 | 5.750%, 07/15/2029 | 186,662 | 0.0 | |||||||
| 94,593 | 5.750%, 08/15/2029 | 95,746 | 0.0 | |||||||
| 24,414 | 5.750%, 11/15/2029 | 24,805 | 0.0 | |||||||
| 223,550 | 5.750%, 11/15/2029 | 227,639 | 0.0 | |||||||
| 32,112 | 5.770%, 03/20/2033 | 32,355 | 0.0 | |||||||
| 113,902 | 5.770%, 03/20/2033 | 115,146 | 0.0 | |||||||
| 28,274 | 5.770%, 04/20/2033 | 28,483 | 0.0 | |||||||
| 58,645 | 5.770%, 04/20/2033 | 59,669 | 0.0 | |||||||
| 66,332 | 5.770%, 05/20/2033 | 68,904 | 0.0 | |||||||
| 73,110 | 5.770%, 05/20/2033 | 75,944 | 0.0 | |||||||
| 12,671 | 5.770%, 07/20/2033 | 12,666 | 0.0 | |||||||
| 41,914 | 5.770%, 07/20/2033 | 42,650 | 0.0 | |||||||
| 18,537 | 5.900%, 05/20/2028 | 18,703 | 0.0 | |||||||
| 925,111 | 5.970%, 11/15/2031 | 922,536 | 0.1 | |||||||
| 257 | 6.000%, 10/15/2025 | 257 | 0.0 | |||||||
| 14,975 | 6.000%, 04/15/2026 | 15,010 | 0.0 | |||||||
| 14,489 | 6.000%, 10/20/2027 | 14,679 | 0.0 | |||||||
| 54,168 | 6.000%, 05/15/2029 | 54,715 | 0.0 | |||||||
| 27,310 | 6.000%, 07/15/2029 | 27,932 | 0.0 | |||||||
| 32,722 | 6.000%, 10/20/2034 | 34,346 | 0.0 | |||||||
| 76,923 | 6.000%, 03/15/2037 | 81,005 | 0.0 | |||||||
| 50,583 | 6.000%, 08/20/2038 | 51,275 | 0.0 | |||||||
| 10,850 | 6.000%, 09/20/2038 | 11,095 | 0.0 | |||||||
| 11,921 | 6.000%, 10/20/2038 | 12,575 | 0.0 | |||||||
| 62,815 | 6.000%, 11/15/2038 | 64,570 | 0.0 | |||||||
| 67,769 | 6.000%, 12/15/2038 | 69,648 | 0.0 | |||||||
| 39,649 | 6.000%, 08/15/2039 | 40,753 | 0.0 | |||||||
| 136,621 | 6.000%, 08/15/2039 | 141,616 | 0.0 | |||||||
| 19,700,000 (2) | 6.000%, 10/20/2054 | 20,036,840 | 1.6 | |||||||
| 9,093 | 6.500%, 07/20/2029 | 9,365 | 0.0 | |||||||
| 33,405 | 6.500%, 07/20/2032 | 33,947 | 0.0 | |||||||
| 47,860 | 6.500%, 02/15/2034 | 47,924 | 0.0 | |||||||
| 152 | 6.500%, 09/20/2034 | 152 | 0.0 | |||||||
| 1,891 | 7.500%, 08/20/2027 | 1,920 | 0.0 | |||||||
| 912,990,869 | 72.6 | |||||||||
| Uniform Mortgage-Backed Securities: 4.0% | ||||||||||
| 2,552,563 | 2.000%, 12/01/2051 | 2,117,075 | 0.2 | |||||||
| 2,456,952 | 2.500%, 12/01/2051 | 2,139,667 | 0.2 | |||||||
| 1,523,904 | 2.500%, 02/01/2052 | 1,344,058 | 0.1 | |||||||
| 2,245,796 | 3.000%, 11/01/2051 | 2,028,022 | 0.2 | |||||||
| 1,477,343 | 3.000%, 01/01/2052 | 1,350,109 | 0.1 | |||||||
| 1,469,683 | 3.500%, 02/01/2052 | 1,388,572 | 0.1 | |||||||
| 4,637,297 | 3.500%, 03/01/2052 | 4,386,127 | 0.4 | |||||||
| 4,688,262 | 4.000%, 05/01/2042 | 4,629,732 | 0.4 | |||||||
| 273,284 | 4.000%, 05/01/2045 | 267,026 | 0.0 | |||||||
| 320,606 | 4.000%, 08/01/2046 | 313,067 | 0.0 | |||||||
| 276,097 | 4.250%, 08/01/2035 | 276,572 | 0.0 | |||||||
| 4,036,917 | 4.500%, 07/01/2052 | 3,974,936 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Uniform Mortgage-Backed Securities (continued) | ||||||||||
| 43,420 | 4.750%, 11/01/2034 | $ | 44,164 | 0.0 | ||||||
| 199,453 | 4.750%, 11/01/2034 | 202,839 | 0.0 | |||||||
| 163,902 | 4.750%, 02/01/2035 | 166,764 | 0.0 | |||||||
| 299,475 | 4.750%, 04/01/2035 | 304,709 | 0.0 | |||||||
| 341,248 | 4.750%, 05/01/2035 | 347,243 | 0.0 | |||||||
| 61,442 | 4.750%, 07/01/2035 | 61,784 | 0.0 | |||||||
| 376,857 | 4.750%, 07/01/2035 | 383,396 | 0.1 | |||||||
| 4,984,846 | 5.000%, 08/01/2052 | 4,995,292 | 0.4 | |||||||
| 20,142 | 5.030%, 05/01/2037 | 20,214 | 0.0 | |||||||
| 84,986 | 5.030%, 09/01/2037 | 87,579 | 0.0 | |||||||
| 131,065 | 5.155%, 01/01/2037 | 135,066 | 0.0 | |||||||
| 29,545 | 5.250%, 04/01/2032 | 29,795 | 0.0 | |||||||
| 42,145 | 5.250%, 04/01/2032 | 43,028 | 0.0 | |||||||
| 22,761 | 5.280%, 11/01/2036 | 23,543 | 0.0 | |||||||
| 68,889 | 5.280%, 11/01/2036 | 71,127 | 0.0 | |||||||
| 38,512 | 5.280%, 01/01/2037 | 39,834 | 0.0 | |||||||
| 76,617 | 5.290%, 08/01/2037 | 79,078 | 0.0 | |||||||
| 55,252 | 5.290%, 09/01/2037 | 57,050 | 0.0 | |||||||
| 60,152 | 5.290%, 09/01/2037 | 62,107 | 0.0 | |||||||
| 11,173 | 5.300%, 10/01/2036 | 11,316 | 0.0 | |||||||
| 59,290 | 5.300%, 12/01/2036 | 60,070 | 0.0 | |||||||
| 42,676 | 5.300%, 05/01/2037 | 44,161 | 0.0 | |||||||
| 183,842 | 5.300%, 08/01/2037 | 187,797 | 0.0 | |||||||
| 94,640 | 5.390%, 12/01/2037 | 97,688 | 0.0 | |||||||
| 143,023 | 5.405%, 11/01/2036 | 147,752 | 0.0 | |||||||
| 180,283 | 5.405%, 02/01/2037 | 186,528 | 0.0 | |||||||
| 10,450,000 (2) | 5.500%, 10/01/2054 | 10,572,638 | 0.9 | |||||||
| 7,032,000 (2) | 5.500%, 11/01/2054 | 7,113,976 | 0.6 | |||||||
| 54,209 | 5.740%, 07/01/2037 | 55,509 | 0.0 | |||||||
| 49,847,010 | 4.0 | |||||||||
| Total U.S. Government Agency Obligations (Cost $1,018,836,380) | 986,876,668 | 78.5 | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: 43.3% | ||||||||||
| 111,538 (3) | Fannie Mae REMIC Trust 2002-W1 3A, 3.679%, 04/25/2042 | 105,987 | 0.0 | |||||||
| 502,098 (3) | Fannie Mae REMIC Trust 2002-W6 3A, 4.814%, 01/25/2042 | 478,843 | 0.0 | |||||||
| 3,208,842 | Fannie Mae REMIC Trust 2002-W9 A4, 6.000%, 08/25/2042 | 3,263,939 | 0.3 | |||||||
| 544,825 | Fannie Mae REMIC Trust 2003-16 CX, 6.500%, 03/25/2033 | 574,806 | 0.0 | |||||||
| 1,535,768 | Fannie Mae REMIC Trust 2003-34 LN, 5.000%, 05/25/2033 | 1,570,774 | 0.1 | |||||||
| 2,451,516 | Fannie Mae REMIC Trust 2003-W15 2A7, 5.550%, 08/25/2043 | 2,471,729 | 0.2 | |||||||
| 2,165,238 | Fannie Mae REMIC Trust 2004-28 PZ, 6.000%, 05/25/2034 | 2,236,276 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
42
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 64,550 (3) | Fannie Mae REMIC Trust 2004-61 SH, 2.420%, (-1.000*SOFR30A + 23.530%), 11/25/2032 | $ | 69,877 | 0.0 | ||||||
| 15,324 | Fannie Mae REMIC Trust 2004-68 LC, 5.000%, 09/25/2029 | 15,560 | 0.0 | |||||||
| 1,524,399 | Fannie Mae REMIC Trust 2004-88 ZC, 6.500%, 12/25/2034 | 1,653,408 | 0.1 | |||||||
| 1,768,727 (3) | Fannie Mae REMIC Trust 2004-W11 2A, 4.472%, 03/25/2043 | 1,678,515 | 0.1 | |||||||
| 1,689,036 | Fannie Mae REMIC Trust 2004-W3 A8, 5.500%, 05/25/2034 | 1,733,519 | 0.1 | |||||||
| 140,100 (3) | Fannie Mae REMIC Trust 2005-122 SE, 4.219%, (-1.000*SOFR30A + 22.699%), 11/25/2035 | 145,032 | 0.0 | |||||||
| 4,030,299 (3) | Fannie Mae REMIC Trust 2005-17 B, 6.500%, 03/25/2035 | 4,233,924 | 0.3 | |||||||
| 102,873 (3)(4) | Fannie Mae REMIC Trust 2005-17 ES, 1.355%, (-1.000*SOFR30A + 6.636%), 03/25/2035 | 1,993 | 0.0 | |||||||
| 1,660,829 (3)(4) | Fannie Mae REMIC Trust 2005-17 SA, 1.305%, (-1.000*SOFR30A + 6.586%), 03/25/2035 | 160,096 | 0.0 | |||||||
| 989,717 | Fannie Mae REMIC Trust 2005-43 PZ, 6.000%, 05/25/2035 | 1,048,703 | 0.1 | |||||||
| 141,396 (3) | Fannie Mae REMIC Trust 2005-59 NQ, 3.389%, (-1.000*SOFR30A + 16.589%), 05/25/2035 | 146,065 | 0.0 | |||||||
| 208,014 (3) | Fannie Mae REMIC Trust 2005-75 GS, 4.066%, (-1.000*SOFR30A + 19.907%), 08/25/2035 | 234,451 | 0.0 | |||||||
| 315,252 | Fannie Mae REMIC Trust 2005-88 ZC, 5.000%, 10/25/2035 | 323,171 | 0.0 | |||||||
| 1,861,549 | Fannie Mae REMIC Trust 2005-99 XA, 5.500%, 12/25/2035 | 1,921,405 | 0.2 | |||||||
| 53,850 (3) | Fannie Mae REMIC Trust 2006-115 ES, 4.982%, (-1.000*SOFR30A + 26.102%), 12/25/2036 | 62,441 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 323,290 (3)(4) | Fannie Mae REMIC Trust 2006-36 SP, 1.305%, (-1.000*SOFR30A + 6.586%), 05/25/2036 | $ | 22,886 | 0.0 | ||||||
| 12,405 (5) | Fannie Mae REMIC Trust 2006-44 P, 0.000%, 12/25/2033 | 10,585 | 0.0 | |||||||
| 1,687,320 (3)(4) | Fannie Mae REMIC Trust 2006-79 SH, 1.055%, (-1.000*SOFR30A + 6.336%), 08/25/2036 | 165,949 | 0.0 | |||||||
| 3,293,200 (3)(4) | Fannie Mae REMIC Trust 2006-8 HL, 1.305%, (-1.000*SOFR30A + 6.586%), 03/25/2036 | 292,166 | 0.0 | |||||||
| 580,446 (3) | Fannie Mae REMIC Trust 2007-1 NR, 6.501%, (-1.000*SOFR30A + 46.630%), 02/25/2037 | 905,613 | 0.1 | |||||||
| 474,470 | Fannie Mae REMIC Trust 2007-60 ZB, 4.750%, 05/25/2037 | 471,786 | 0.0 | |||||||
| 90,498 (3) | Fannie Mae REMIC Trust 2009-12 LK, 14.644%, 03/25/2039 | 101,904 | 0.0 | |||||||
| 5,024,849 (3)(4) | Fannie Mae REMIC Trust 2010-147 LS, 1.055%, (-1.000*SOFR30A + 6.336%), 01/25/2041 | 620,842 | 0.1 | |||||||
| 5,044,212 | Fannie Mae REMIC Trust 2010-2 LC, 5.000%, 02/25/2040 | 5,193,626 | 0.4 | |||||||
| 746,307 (3) | Fannie Mae REMIC Trust 2010-26 F, 6.165%, (SOFR30A + 0.884%), 11/25/2036 | 751,887 | 0.1 | |||||||
| 748,783 (3) | Fannie Mae REMIC Trust 2010-39 FN, 6.225%, (SOFR30A + 0.944%), 05/25/2040 | 755,197 | 0.1 | |||||||
| 541,321 | Fannie Mae REMIC Trust 2010-80 PZ, 5.000%, 07/25/2040 | 554,446 | 0.0 | |||||||
| 875,356 | Fannie Mae REMIC Trust 2010-87 PL, 4.000%, 06/25/2040 | 868,313 | 0.1 | |||||||
| 1,510,104 (3)(4) | Fannie Mae REMIC Trust 2010-95 SB, 1.205%, (-1.000*SOFR30A + 6.486%), 09/25/2040 | 115,675 | 0.0 | |||||||
| 965,262 | Fannie Mae REMIC Trust 2011-10 ZC, 5.000%, 02/25/2041 | 983,468 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
43
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 750,000 | Fannie Mae REMIC Trust 2011-105 MB, 4.000%, 10/25/2041 | $ | 685,287 | 0.1 | ||||||
| 1,006,829 | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | 1,003,479 | 0.1 | |||||||
| 1,090,104 (3) | Fannie Mae REMIC Trust 2011-4 CS, 2.111%, (-1.000*SOFR30A + 12.671%), 05/25/2040 | 1,086,177 | 0.1 | |||||||
| 4,795,956 | Fannie Mae REMIC Trust 2011-99 CZ, 4.500%, 10/25/2041 | 4,784,209 | 0.4 | |||||||
| 2,282,605 (3)(4) | Fannie Mae REMIC Trust 2012-128 VS, 0.855%, (-1.000*SOFR30A + 6.136%), 06/25/2042 | 133,163 | 0.0 | |||||||
| 934,747 (4) | Fannie Mae REMIC Trust 2012-137 EI, 3.000%, 12/25/2027 | 26,053 | 0.0 | |||||||
| 659,311 (4) | Fannie Mae REMIC Trust 2012-142 BI, 3.000%, 11/25/2027 | 12,850 | 0.0 | |||||||
| 3,494,240 (4) | Fannie Mae REMIC Trust 2012-148 HI, 3.500%, 05/25/2042 | 374,563 | 0.0 | |||||||
| 4,699,067 (4) | Fannie Mae REMIC Trust 2012-148 IM, 3.000%, 01/25/2028 | 151,077 | 0.0 | |||||||
| 1,469,813 | Fannie Mae REMIC Trust 2012-148 KH, 3.000%, 03/25/2042 | 1,412,384 | 0.1 | |||||||
| 1,285,026 (4) | Fannie Mae REMIC Trust 2012-154 PI, 4.000%, 05/25/2042 | 156,543 | 0.0 | |||||||
| 3,469,968 | Fannie Mae REMIC Trust 2012-17 QZ, 4.000%, 03/25/2042 | 3,372,890 | 0.3 | |||||||
| 2,762,292 | Fannie Mae REMIC Trust 2012-27 EZ, 4.250%, 03/25/2042 | 2,700,051 | 0.2 | |||||||
| 2,500,000 | Fannie Mae REMIC Trust 2012-40 MY, 3.500%, 04/25/2042 | 2,343,746 | 0.2 | |||||||
| 1,700,000 | Fannie Mae REMIC Trust 2012-66 KE, 4.000%, 06/25/2042 | 1,632,132 | 0.1 | |||||||
| 816,371 (3)(4) | Fannie Mae REMIC Trust 2012-68 SD, 1.305%, (-1.000*SOFR30A + 6.586%), 06/25/2032 | 53,305 | 0.0 | |||||||
| 3,457,000 | Fannie Mae REMIC Trust 2012-97 PC, 3.500%, 09/25/2042 | 3,036,958 | 0.2 | |||||||
| 825,193 | Fannie Mae REMIC Trust 2013-125 AZ, 4.000%, 11/25/2039 | 773,646 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 392,401 (4) | Fannie Mae REMIC Trust 2013-13 PI, 3.500%, 04/25/2042 | $ | 29,768 | 0.0 | ||||||
| 1,012,205 (5) | Fannie Mae REMIC Trust 2013-135 PO, 0.000%, 01/25/2044 | 753,185 | 0.1 | |||||||
| 46,456 | Fannie Mae REMIC Trust 2013-18 NA, 2.000%, 12/25/2042 | 41,681 | 0.0 | |||||||
| 1,548,352 (4) | Fannie Mae REMIC Trust 2013-25 BI, 3.000%, 03/25/2033 | 104,457 | 0.0 | |||||||
| 881,821 (4) | Fannie Mae REMIC Trust 2013-54 ID, 3.000%, 01/25/2033 | 48,588 | 0.0 | |||||||
| 1,190,490 | Fannie Mae REMIC Trust 2013-55 VZ, 3.000%, 06/25/2043 | 1,093,076 | 0.1 | |||||||
| 1,365,770 (4) | Fannie Mae REMIC Trust 2013-62 AI, 3.000%, 06/25/2033 | 104,820 | 0.0 | |||||||
| 1,401,927 | Fannie Mae REMIC Trust 2015-22 DY, 3.000%, 04/25/2045 | 1,130,185 | 0.1 | |||||||
| 1,404,206 | Fannie Mae REMIC Trust 2015-26 UZ, 3.000%, 05/25/2045 | 1,188,285 | 0.1 | |||||||
| 711,932 | Fannie Mae REMIC Trust 2015-68 JW, 3.500%, 09/25/2030 | 691,349 | 0.1 | |||||||
| 2,630,000 | Fannie Mae REMIC Trust 2016-103 PB, 3.000%, 01/25/2047 | 2,326,770 | 0.2 | |||||||
| 3,843,691 (3)(4) | Fannie Mae REMIC Trust 2016-4 DS, 0.705%, (-1.000*SOFR30A + 5.986%), 02/25/2046 | 485,967 | 0.0 | |||||||
| 2,305,448 (3) | Fannie Mae REMIC Trust 2016-51 S, 0.525%, (-1.000*SOFR30A + 5.806%), 10/25/2043 | 2,087,127 | 0.2 | |||||||
| 4,333,554 | Fannie Mae REMIC Trust 2016-64 LD, 3.500%, 09/25/2046 | 4,012,452 | 0.3 | |||||||
| 5,799,819 | Fannie Mae REMIC Trust 2017-22 DZ, 4.000%, 04/25/2047 | 5,555,456 | 0.4 | |||||||
| 7,510,000 | Fannie Mae REMIC Trust 2018-16 TV, 3.000%, 05/25/2041 | 6,870,694 | 0.5 | |||||||
| 443,764 | Fannie Mae REMIC Trust 2018-25 AL, 3.500%, 04/25/2048 | 400,514 | 0.0 | |||||||
| 579,496 | Fannie Mae REMIC Trust 2018-37 DZ, 4.000%, 06/25/2048 | 557,750 | 0.0 | |||||||
| 3,978,547 (4) | Fannie Mae REMIC Trust 2019-49 IG, 3.000%, 03/25/2033 | 281,131 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
44
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,443,306 | Fannie Mae REMIC Trust 2019-6 GZ, 4.000%, 03/25/2059 | $ | 2,206,375 | 0.2 | ||||||
| 20,483,785 (4) | Fannie Mae REMIC Trust 2020-34 AI, 3.500%, 06/25/2035 | 1,675,264 | 0.1 | |||||||
| 2,780,627 (4) | Fannie Mae REMIC Trust 2020-44 TI, 5.500%, 12/25/2035 | 425,672 | 0.0 | |||||||
| 3,816,287 | Fannie Mae REMIC Trust 2023-55 AY, 6.500%, 11/25/2053 | 4,104,208 | 0.3 | |||||||
| 1,008,343 (3) | Fannie Mae Trust 2004-W2 3A, 4.476%, 02/25/2044 | 988,103 | 0.1 | |||||||
| 803,075 (3) | Fannie Mae Trust 2004-W2 4A, 4.452%, 02/25/2044 | 789,639 | 0.1 | |||||||
| 221,387 (3) | Freddie Mac REMIC Trust 2653 SC, 4.070%, (-1.000*SOFR30A + 6.743%), 07/15/2033 | 216,457 | 0.0 | |||||||
| 478,536 | Freddie Mac REMIC Trust 2767 ZW, 6.000%, 03/15/2034 | 505,488 | 0.0 | |||||||
| 93,317 (5) | Freddie Mac REMIC Trust 2974 KO, 0.000%, 05/15/2035 | 76,694 | 0.0 | |||||||
| 32,995 (3) | Freddie Mac REMIC Trust 3012 ST, 2.316%, (-1.000*SOFR30A + 21.548%), 04/15/2035 | 33,936 | 0.0 | |||||||
| 144,592 (3) | Freddie Mac REMIC Trust 3065 DC, 3.490%, (-1.000*SOFR30A + 19.517%), 03/15/2035 | 152,216 | 0.0 | |||||||
| 221,899 | Freddie Mac REMIC Trust 3158 NE, 5.500%, 05/15/2036 | 233,655 | 0.0 | |||||||
| 2,092,536 (3)(4) | Freddie Mac REMIC Trust 3181 TA, 0.500%, (-1.000*SOFR30A + 5.544%), 07/15/2036 | 34,419 | 0.0 | |||||||
| 4,198,003 | Freddie Mac REMIC Trust 3196 ZK, 6.500%, 04/15/2032 | 4,453,337 | 0.4 | |||||||
| 110,549 (4) | Freddie Mac REMIC Trust 3507 IA, 5.500%, 09/15/2035 | 12,870 | 0.0 | |||||||
| 1,032,722 | Freddie Mac REMIC Trust 3658 CZ, 5.000%, 04/15/2040 | 1,044,401 | 0.1 | |||||||
| 2,966,426 | Freddie Mac REMIC Trust 3770 GA, 4.500%, 10/15/2040 | 2,996,023 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 186,393 (3) | Freddie Mac REMIC Trust 3864 NT, 5.500%, (-1.000*SOFR30A + 59.451%), 03/15/2039 | $ | 189,002 | 0.0 | ||||||
| 941,725 | Freddie Mac REMIC Trust 3888 ZG, 4.000%, 07/15/2041 | 930,469 | 0.1 | |||||||
| 3,625,837 (3)(4) | Freddie Mac REMIC Trust 3960 SG, 0.543%, (-1.000*SOFR30A + 5.886%), 11/15/2041 | 380,681 | 0.0 | |||||||
| 1,568,133 | Freddie Mac REMIC Trust 4040 UZ, 5.000%, 05/15/2042 | 1,563,451 | 0.1 | |||||||
| 5,075,000 | Freddie Mac REMIC Trust 4059 DY, 3.500%, 06/15/2042 | 4,847,021 | 0.4 | |||||||
| 1,086,205 | Freddie Mac REMIC Trust 4097 ZA, 3.500%, 08/15/2042 | 1,034,713 | 0.1 | |||||||
| 4,276,647 | Freddie Mac REMIC Trust 4136 ZG, 3.000%, 11/15/2042 | 3,947,654 | 0.3 | |||||||
| 10,089,386 | Freddie Mac REMIC Trust 4159 LZ, 3.500%, 01/15/2043 | 9,476,718 | 0.8 | |||||||
| 3,326,595 (4) | Freddie Mac REMIC Trust 4176 IA, 2.500%, 03/15/2028 | 94,181 | 0.0 | |||||||
| 1,871,677 (3) | Freddie Mac REMIC Trust 4249 CS, 0.554%, (-1.000*SOFR30A + 4.564%), 09/15/2043 | 1,421,441 | 0.1 | |||||||
| 2,581,419 (3) | Freddie Mac REMIC Trust 4274 US, 0.393%, (-1.000*SOFR30A + 5.736%), 10/15/2035 | 2,237,541 | 0.2 | |||||||
| 10,820,868 | Freddie Mac REMIC Trust 4367 MZ, 4.000%, 07/15/2044 | 10,625,270 | 0.8 | |||||||
| 2,576,964 | Freddie Mac REMIC Trust 4372 Z, 3.000%, 08/15/2044 | 2,378,562 | 0.2 | |||||||
| 5,808,810 (3)(4) | Freddie Mac REMIC Trust 4438 AS, 0.743%, (-1.000*SOFR30A + 6.086%), 02/15/2045 | 568,919 | 0.0 | |||||||
| 5,292,291 | Freddie Mac REMIC Trust 4480 ZX, 4.000%, 11/15/2044 | 5,208,160 | 0.4 | |||||||
| 3,674,662 | Freddie Mac REMIC Trust 4631 CZ, 3.500%, 11/15/2046 | 3,462,414 | 0.3 | |||||||
| 2,118,148 | Freddie Mac REMIC Trust 4818 GZ, 4.000%, 08/15/2048 | 2,043,684 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
45
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,305,896 | Freddie Mac REMIC Trust 4941 CZ, 3.000%, 11/25/2049 | $ | 2,069,120 | 0.2 | ||||||
| 2,597,868 | Freddie Mac REMIC Trust 5000 DC, 2.500%, 03/25/2040 | 2,288,578 | 0.2 | |||||||
| 20,172,982 (4) | Freddie Mac REMIC Trust 5013 QI, 3.500%, 09/25/2050 | 3,923,708 | 0.3 | |||||||
| 8,800,000 | Freddie Mac REMIC Trust 5361 BY, 7.000%, 12/25/2053 | 9,762,244 | 0.8 | |||||||
| 4,643,779 | Freddie Mac REMIC Trust 5369 B, 6.000%, 01/25/2054 | 4,798,331 | 0.4 | |||||||
| 1,334,053 (3) | Freddie Mac Securities REMIC Trust 2005-S001 2A2, 5.119%, (TSFR1M + 0.264%), 09/25/2045 | 1,303,698 | 0.1 | |||||||
| 792,083 (3) | Freddie Mac Structured Pass-Through Certificates T-48 2A, 4.188%, 07/25/2033 | 744,818 | 0.1 | |||||||
| 408,559 (3) | Freddie Mac Structured Pass-Through Certificates T-54 4A, 4.246%, 02/25/2043 | 389,929 | 0.0 | |||||||
| 4,752,973 | Freddie Mac Whole Loan Securities Trust 2017-SC02 1A2, 3.000%, 05/25/2047 | 4,181,526 | 0.3 | |||||||
| 51,549 | Ginnie Mae 2004-16 AE, 5.500%, 02/20/2034 | 52,468 | 0.0 | |||||||
| 490,711 | Ginnie Mae 2004-17 MZ, 5.500%, 03/16/2034 | 490,063 | 0.0 | |||||||
| 346,259 | Ginnie Mae 2004-28 CZ, 5.500%, 04/20/2034 | 353,782 | 0.0 | |||||||
| 169,607 (5) | Ginnie Mae 2004-37 OA, 0.000%, 04/17/2034 | 145,916 | 0.0 | |||||||
| 500,521 | Ginnie Mae 2004-65 ZG, 5.500%, 07/20/2034 | 511,645 | 0.0 | |||||||
| 1,238,272 | Ginnie Mae 2004-81 Z, 5.000%, 10/20/2034 | 1,236,532 | 0.1 | |||||||
| 513,914 (3)(4) | Ginnie Mae 2004-98 SA, 1.625%, (-1.000*TSFR1M + 6.586%), 11/20/2034 | 49,373 | 0.0 | |||||||
| 439,314 | Ginnie Mae 2005-21 Z, 5.000%, 03/20/2035 | 444,084 | 0.0 | |||||||
| 61,873 (3)(4) | Ginnie Mae 2005-25 SI, 6.000%, (-1.000*TSFR1M + 42.513%), 01/20/2034 | 7,477 | 0.0 | |||||||
| 264,418 (3)(4) | Ginnie Mae 2005-7 AH, 1.559%, (-1.000*TSFR1M + 6.656%), 02/16/2035 | 21,472 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 726,834 | Ginnie Mae 2005-80 Z, 5.000%, 10/20/2035 | $ | 734,305 | 0.1 | ||||||
| 36,561 (3) | Ginnie Mae 2005-91 UP, 3.878%, (-1.000*TSFR1M + 14.071%), 09/16/2031 | 37,284 | 0.0 | |||||||
| 4,002,622 | Ginnie Mae 2006-10 ZT, 6.000%, 03/20/2036 | 4,165,112 | 0.3 | |||||||
| 1,268,267 | Ginnie Mae 2006-17 TW, 6.000%, 04/20/2036 | 1,300,102 | 0.1 | |||||||
| 42,254 (3) | Ginnie Mae 2006-61 FA, 5.000%, (TSFR1M + 0.364%), 11/20/2036 | 42,202 | 0.0 | |||||||
| 1,086,230 | Ginnie Mae 2006-7 ZA, 5.500%, 02/20/2036 | 1,114,565 | 0.1 | |||||||
| 768,734 (4) | Ginnie Mae 2007-17 CI, 7.500%, 04/16/2037 | 118,663 | 0.0 | |||||||
| 847,518 (5) | Ginnie Mae 2007-41 OL, 0.000%, 07/20/2037 | 700,414 | 0.1 | |||||||
| 48,411 | Ginnie Mae 2007-45 PE, 5.500%, 07/16/2037 | 49,747 | 0.0 | |||||||
| 190,492 (3) | Ginnie Mae 2007-48 SY, 4.617%, (-1.000*TSFR1M + 19.907%), 08/16/2037 | 197,700 | 0.0 | |||||||
| 31,289 (3) | Ginnie Mae 2007-53 SW, 4.979%, (-1.000*TSFR1M + 19.862%), 09/20/2037 | 35,357 | 0.0 | |||||||
| 525,186 | Ginnie Mae 2007-60 YZ, 5.500%, 10/20/2037 | 527,105 | 0.0 | |||||||
| 2,306,147 | Ginnie Mae 2008-20 PZ, 6.000%, 03/20/2038 | 2,396,741 | 0.2 | |||||||
| 288,389 (3)(4) | Ginnie Mae 2008-3 SA, 1.475%, (-1.000*TSFR1M + 6.436%), 01/20/2038 | 30,530 | 0.0 | |||||||
| 434,447 (3)(4) | Ginnie Mae 2008-40 PS, 1.289%, (-1.000*TSFR1M + 6.386%), 05/16/2038 | 30,698 | 0.0 | |||||||
| 672,669 (3)(4) | Ginnie Mae 2008-51 GS, 1.019%, (-1.000*TSFR1M + 6.116%), 06/16/2038 | 66,281 | 0.0 | |||||||
| 1,250,784 (3)(4) | Ginnie Mae 2008-82 SA, 0.925%, (-1.000*TSFR1M + 5.886%), 09/20/2038 | 109,428 | 0.0 | |||||||
| 586,353 (3)(4) | Ginnie Mae 2009-110 SA, 1.139%, (-1.000*TSFR1M + 6.236%), 04/16/2039 | 6,938 | 0.0 | |||||||
| 6,838,933 | Ginnie Mae 2009-110 ZA, 5.500%, 11/16/2039 | 6,972,820 | 0.6 | |||||||
| 973,463 | Ginnie Mae 2009-110 ZC, 4.500%, 11/16/2039 | 953,440 | 0.1 | |||||||
| 1,752,300 | Ginnie Mae 2009-118 XZ, 5.000%, 12/20/2039 | 1,798,803 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
46
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 804,598 | Ginnie Mae 2009-121 ZQ, 5.500%, 09/20/2039 | $ | 836,248 | 0.1 | ||||||
| 720,531 | Ginnie Mae 2009-31 BP, 5.000%, 05/20/2039 | 730,300 | 0.1 | |||||||
| 1,062,332 | Ginnie Mae 2009-31 ZL, 4.500%, 05/20/2039 | 1,068,565 | 0.1 | |||||||
| 951,047 | Ginnie Mae 2009-32 QZ, 5.500%, 05/16/2039 | 995,470 | 0.1 | |||||||
| 787,321 | Ginnie Mae 2009-32 YZ, 7.000%, 05/16/2039 | 836,181 | 0.1 | |||||||
| 1,066,374 | Ginnie Mae 2009-34 Z, 4.500%, 05/16/2039 | 1,075,674 | 0.1 | |||||||
| 1,380,414 | Ginnie Mae 2009-53 ZB, 6.000%, 07/16/2039 | 1,461,246 | 0.1 | |||||||
| 274,039 | Ginnie Mae 2009-54 HZ, 5.000%, 07/20/2039 | 277,153 | 0.0 | |||||||
| 132,038 (3)(4) | Ginnie Mae 2009-55 BI, 1.000%, (-1.000*TSFR1M + 159.638%), 06/16/2037 | 4,187 | 0.0 | |||||||
| 1,932,810 | Ginnie Mae 2009-61 EZ, 7.500%, 08/20/2039 | 2,065,940 | 0.2 | |||||||
| 7,996,842 | Ginnie Mae 2009-61 PZ, 7.500%, 08/20/2039 | 8,737,699 | 0.7 | |||||||
| 6,792,598 | Ginnie Mae 2009-61 ZQ, 6.000%, 08/16/2039 | 7,295,865 | 0.6 | |||||||
| 526,134 (3)(4) | Ginnie Mae 2009-66 QS, 1.025%, (-1.000*TSFR1M + 5.986%), 07/20/2039 | 23,195 | 0.0 | |||||||
| 3,293,842 | Ginnie Mae 2009-68 ZC, 5.500%, 08/16/2039 | 3,445,447 | 0.3 | |||||||
| 389,890 (3)(4) | Ginnie Mae 2009-77 SA, 0.939%, (-1.000*TSFR1M + 6.036%), 09/16/2039 | 33,833 | 0.0 | |||||||
| 3,161,963 | Ginnie Mae 2009-77 ZB, 5.500%, 09/16/2039 | 3,282,023 | 0.3 | |||||||
| 1,327,912 | Ginnie Mae 2009-79 PZ, 6.000%, 09/20/2039 | 1,430,812 | 0.1 | |||||||
| 725,502 | Ginnie Mae 2009-87 PZ, 5.500%, 10/20/2039 | 764,489 | 0.1 | |||||||
| 2,637,234 | Ginnie Mae 2009-87 WZ, 6.000%, 10/20/2039 | 2,770,846 | 0.2 | |||||||
| 742,733 | Ginnie Mae 2009-92 DZ, 4.500%, 10/16/2039 | 726,183 | 0.1 | |||||||
| 1,789,193 | Ginnie Mae 2009-98 MZ, 5.000%, 10/16/2039 | 1,818,590 | 0.1 | |||||||
| 223,675 (3) | Ginnie Mae 2009-H01 FA, 6.225%, (TSFR1M + 1.264%), 11/20/2059 | 224,622 | 0.0 | |||||||
| 555,021 (4) | Ginnie Mae 2010-106 IP, 5.000%, 03/20/2040 | 35,335 | 0.0 | |||||||
| 5,903,072 | Ginnie Mae 2010-113 BE, 4.500%, 09/20/2040 | 5,956,115 | 0.5 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 605,549 (3)(4) | Ginnie Mae 2010-116 NS, 1.439%, (-1.000*TSFR1M + 6.536%), 09/16/2040 | $ | 51,352 | 0.0 | ||||||
| 2,000,000 | Ginnie Mae 2010-116 PB, 5.000%, 06/16/2040 | 2,043,082 | 0.2 | |||||||
| 4,168,192 | Ginnie Mae 2010-117 ZQ, 4.500%, 09/20/2040 | 4,154,527 | 0.3 | |||||||
| 918,000 | Ginnie Mae 2010-121 TB, 4.000%, 09/20/2040 | 889,767 | 0.1 | |||||||
| 2,057,442 | Ginnie Mae 2010-125 BZ, 4.500%, 09/16/2040 | 2,052,806 | 0.2 | |||||||
| 931 (4) | Ginnie Mae 2010-130 KI, 5.500%, 09/16/2040 | 1 | 0.0 | |||||||
| 1,388,533 | Ginnie Mae 2010-14 B, 4.500%, 02/16/2040 | 1,384,245 | 0.1 | |||||||
| 537,273 (3)(4) | Ginnie Mae 2010-158 SA, 0.975%, (-1.000*TSFR1M + 5.936%), 12/20/2040 | 61,984 | 0.0 | |||||||
| 746,132 | Ginnie Mae 2010-162 ZE, 4.000%, 12/16/2040 | 734,479 | 0.1 | |||||||
| 6,191,251 (3)(4) | Ginnie Mae 2010-166 GS, 0.925%, (-1.000*TSFR1M + 5.886%), 12/20/2040 | 673,248 | 0.1 | |||||||
| 75,776 (4) | Ginnie Mae 2010-166 NI, 4.500%, 04/20/2039 | 578 | 0.0 | |||||||
| 593,252 | Ginnie Mae 2010-169 AW, 4.500%, 12/20/2040 | 596,322 | 0.1 | |||||||
| 37,771 (4) | Ginnie Mae 2010-19 LI, 5.000%, 07/16/2039 | 549 | 0.0 | |||||||
| 764,185 | Ginnie Mae 2010-31 BP, 5.000%, 03/20/2040 | 780,558 | 0.1 | |||||||
| 477,560 (4) | Ginnie Mae 2010-4 WI, 6.000%, 01/16/2040 | 61,345 | 0.0 | |||||||
| 4,056,342 | Ginnie Mae 2010-42 VZ, 5.500%, 10/20/2039 | 4,229,068 | 0.3 | |||||||
| 599,111 | Ginnie Mae 2010-59 ZA, 4.500%, 05/20/2040 | 599,717 | 0.1 | |||||||
| 3,421,583 (3) | Ginnie Mae 2010-H10 FB, 6.390%, (TSFR1M + 1.114%), 05/20/2060 | 3,440,209 | 0.3 | |||||||
| 1,299,887 (3) | Ginnie Mae 2010-H10 FC, 6.462%, (TSFR1M + 1.114%), 05/20/2060 | 1,307,163 | 0.1 | |||||||
| 41,642 (3) | Ginnie Mae 2010-H11 FA, 6.390%, (TSFR1M + 1.114%), 06/20/2060 | 41,838 | 0.0 | |||||||
| 801,844 (3) | Ginnie Mae 2010-H20 AF, 5.797%, (TSFR1M + 0.444%), 10/20/2060 | 799,014 | 0.1 | |||||||
| 65,516 (3) | Ginnie Mae 2010-H26 LF, 5.817%, (TSFR1M + 0.464%), 08/20/2058 | 65,454 | 0.0 | |||||||
| 102,379 (4) | Ginnie Mae 2011-123 QI, 5.000%, 05/20/2041 | 7,208 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
47
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 360,813 (3) | Ginnie Mae 2011-128 TF, 5.661%, (TSFR1M + 0.564%), 05/16/2041 | $ | 359,073 | 0.0 | ||||||
| 1,512,888 (3)(4) | Ginnie Mae 2011-141 PS, 1.489%, (-1.000*TSFR1M + 6.586%), 06/16/2041 | 105,911 | 0.0 | |||||||
| 1,386,203 (4) | Ginnie Mae 2011-146 EI, 5.000%, 11/16/2041 | 244,263 | 0.0 | |||||||
| 945,000 | Ginnie Mae 2011-151 PY, 3.000%, 11/20/2041 | 824,970 | 0.1 | |||||||
| 26,784 | Ginnie Mae 2011-169 BC, 7.000%, 05/16/2032 | 27,623 | 0.0 | |||||||
| 97,668 (3) | Ginnie Mae 2011-169 BG, 5.450%, 04/16/2039 | 98,955 | 0.0 | |||||||
| 4,508,707 | Ginnie Mae 2011-25 Z, 4.000%, 02/20/2041 | 4,426,625 | 0.4 | |||||||
| 1,173,438 | Ginnie Mae 2011-59 QC, 4.000%, 12/20/2040 | 1,165,129 | 0.1 | |||||||
| 1,683,074 | Ginnie Mae 2011-89 Z, 3.500%, 06/20/2041 | 1,598,858 | 0.1 | |||||||
| 479,321 (3) | Ginnie Mae 2011-H01 AF, 5.917%, (TSFR1M + 0.564%), 11/20/2060 | 478,692 | 0.0 | |||||||
| 713,128 (3) | Ginnie Mae 2011-H03 FA, 5.967%, (TSFR1M + 0.614%), 01/20/2061 | 712,379 | 0.1 | |||||||
| 139,345 (3) | Ginnie Mae 2011-H07 FA, 5.967%, (TSFR1M + 0.614%), 02/20/2061 | 139,177 | 0.0 | |||||||
| 80,387 (3) | Ginnie Mae 2011-H08 FD, 5.967%, (TSFR1M + 0.614%), 02/20/2061 | 80,329 | 0.0 | |||||||
| 175,407 (3) | Ginnie Mae 2011-H09 AF, 5.967%, (TSFR1M + 0.614%), 03/20/2061 | 175,224 | 0.0 | |||||||
| 236,571 (3) | Ginnie Mae 2011-H19 FA, 5.937%, (TSFR1M + 0.584%), 08/20/2061 | 236,222 | 0.0 | |||||||
| 307,977 (3) | Ginnie Mae 2011-H21 FT, 5.350%, (H15T1Y + 0.700%), 10/20/2061 | 307,325 | 0.0 | |||||||
| 513,768 (4) | Ginnie Mae 2012-103 IC, 3.500%, 08/16/2040 | 13,928 | 0.0 | |||||||
| 184,952 (4) | Ginnie Mae 2012-124 MI, 4.000%, 03/20/2042 | 15,476 | 0.0 | |||||||
| 10,910,030 (4) | Ginnie Mae 2012-136 BI, 3.500%, 11/20/2042 | 1,524,801 | 0.1 | |||||||
| 581,916 (4) | Ginnie Mae 2012-146 AI, 3.000%, 10/20/2037 | 5,835 | 0.0 | |||||||
| 164,130 (3)(4) | Ginnie Mae 2012-34 MS, 1.489%, (-1.000*TSFR1M + 6.586%), 04/16/2041 | 7,734 | 0.0 | |||||||
| 2,033,629 (3)(4) | Ginnie Mae 2012-48 SA, 1.439%, (-1.000*TSFR1M + 6.536%), 04/16/2042 | 274,205 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,651,973 (3)(4) | Ginnie Mae 2012-60 SG, 0.889%, (-1.000*TSFR1M + 5.986%), 05/16/2042 | $ | 263,777 | 0.0 | ||||||
| 2,789,291 (3) | Ginnie Mae 2012-77 FE, 5.601%, (TSFR1M + 0.504%), 05/16/2041 | 2,776,804 | 0.2 | |||||||
| 562,831 (3)(4) | Ginnie Mae 2012-93 NS, 1.025%, (-1.000*TSFR1M + 5.986%), 07/20/2042 | 51,973 | 0.0 | |||||||
| 587,767 (4) | Ginnie Mae 2012-98 EI, 4.000%, 04/20/2041 | 56,190 | 0.0 | |||||||
| 1,055,250 (3) | Ginnie Mae 2012-H06 FS, 6.167%, (TSFR1M + 0.814%), 03/20/2062 | 1,057,218 | 0.1 | |||||||
| 2,316,505 (3) | Ginnie Mae 2012-H08 FA, 6.067%, (TSFR1M + 0.714%), 01/20/2062 | 2,317,260 | 0.2 | |||||||
| 608,797 (3) | Ginnie Mae 2012-H08 FB, 6.067%, (TSFR1M + 0.714%), 03/20/2062 | 609,060 | 0.1 | |||||||
| 122,617 (3) | Ginnie Mae 2012-H11 FA, 6.167%, (TSFR1M + 0.814%), 02/20/2062 | 122,845 | 0.0 | |||||||
| 166,704 (3) | Ginnie Mae 2012-H11 GA, 6.047%, (TSFR1M + 0.694%), 05/20/2062 | 166,727 | 0.0 | |||||||
| 430,624 (3) | Ginnie Mae 2012-H11 VA, 6.117%, (TSFR1M + 0.764%), 05/20/2062 | 430,963 | 0.0 | |||||||
| 576,610 (3) | Ginnie Mae 2012-H12 FA, 6.017%, (TSFR1M + 0.664%), 04/20/2062 | 576,354 | 0.0 | |||||||
| 3,443,520 (3) | Ginnie Mae 2012-H12 FB, 6.517%, (TSFR1M + 1.164%), 02/20/2062 | 3,467,795 | 0.3 | |||||||
| 184,656 (3) | Ginnie Mae 2012-H14 FK, 6.047%, (TSFR1M + 0.694%), 07/20/2062 | 184,422 | 0.0 | |||||||
| 957,299 (3) | Ginnie Mae 2012-H20 BA, 6.027%, (TSFR1M + 0.674%), 09/20/2062 | 944,225 | 0.1 | |||||||
| 124,773 (3) | Ginnie Mae 2012-H29 FA, 5.982%, (TSFR1M + 0.629%), 10/20/2062 | 124,676 | 0.0 | |||||||
| 429,348 (3) | Ginnie Mae 2012-H30 GA, 5.817%, (TSFR1M + 0.464%), 12/20/2062 | 428,243 | 0.0 | |||||||
| 1,007,805 | Ginnie Mae 2013-119 TZ, 3.000%, 08/20/2043 | 913,746 | 0.1 | |||||||
| 7,000,000 | Ginnie Mae 2013-147 BE, 4.000%, 12/20/2039 | 6,786,192 | 0.5 | |||||||
| 1,567,093 | Ginnie Mae 2013-167 Z, 3.000%, 10/16/2043 | 1,439,948 | 0.1 | |||||||
| 1,900,000 (4) | Ginnie Mae 2013-186 UI, 2.500%, 11/20/2043 | 260,693 | 0.0 | |||||||
| 414,755 (4) | Ginnie Mae 2013-186 VI, 4.000%, 12/20/2042 | 57,045 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
48
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,758,879 | Ginnie Mae 2013-186 ZE, 2.500%, 12/16/2043 | $ | 2,453,927 | 0.2 | ||||||
| 2,061,885 (4) | Ginnie Mae 2013-20 LI, 4.500%, 12/16/2042 | 211,109 | 0.0 | |||||||
| 1,449,691 (4) | Ginnie Mae 2013-23 IO, 3.500%, 02/20/2043 | 243,182 | 0.0 | |||||||
| 603,724 (3)(4) | Ginnie Mae 2013-88 AI, 0.535%, (-1.000*TSFR1M + 5.736%), 06/20/2043 | 51,200 | 0.0 | |||||||
| 1,019,999 (3)(4) | Ginnie Mae 2013-99 SK, 0.585%, (-1.000*TSFR1M + 5.786%), 07/20/2043 | 72,215 | 0.0 | |||||||
| 579,223 (3) | Ginnie Mae 2013-H02 FD, 5.807%, (TSFR1M + 0.454%), 12/20/2062 | 577,197 | 0.0 | |||||||
| 96,816 (3) | Ginnie Mae 2013-H07 HA, 5.877%, (TSFR1M + 0.524%), 03/20/2063 | 96,598 | 0.0 | |||||||
| 772,940 (3) | Ginnie Mae 2013-H08 BF, 5.867%, (TSFR1M + 0.514%), 03/20/2063 | 767,567 | 0.1 | |||||||
| 352,892 (3) | Ginnie Mae 2013-H10 FT, 5.100%, (H15T1Y + 0.450%), 04/20/2063 | 351,172 | 0.0 | |||||||
| 927,758 (3) | Ginnie Mae 2013-H13 FS, 6.467%, (TSFR1M + 1.114%), 06/20/2063 | 934,984 | 0.1 | |||||||
| 600,716 (3) | Ginnie Mae 2013-H14 FC, 5.937%, (TSFR1M + 0.584%), 06/20/2063 | 599,866 | 0.1 | |||||||
| 175,107 (3) | Ginnie Mae 2013-H14 FD, 5.937%, (TSFR1M + 0.584%), 06/20/2063 | 174,732 | 0.0 | |||||||
| 204,330 (3) | Ginnie Mae 2013-H14 FG, 5.937%, (TSFR1M + 0.584%), 05/20/2063 | 204,002 | 0.0 | |||||||
| 123,128 (3) | Ginnie Mae 2013-H15 FA, 6.007%, (TSFR1M + 0.654%), 06/20/2063 | 123,060 | 0.0 | |||||||
| 173,621 (3) | Ginnie Mae 2013-H17 FA, 6.017%, (TSFR1M + 0.664%), 07/20/2063 | 173,536 | 0.0 | |||||||
| 65,877 (3) | Ginnie Mae 2013-H18 EA, 5.967%, (TSFR1M + 0.614%), 07/20/2063 | 65,794 | 0.0 | |||||||
| 562,661 (3) | Ginnie Mae 2013-H18 FA, 5.967%, (TSFR1M + 0.614%), 06/20/2063 | 562,167 | 0.0 | |||||||
| 763,457 (3) | Ginnie Mae 2013-H19 DF, 6.117%, (TSFR1M + 0.764%), 05/20/2063 | 761,830 | 0.1 | |||||||
| 162,934 (3) | Ginnie Mae 2013-H20 FB, 6.467%, (TSFR1M + 1.114%), 08/20/2063 | 164,051 | 0.0 | |||||||
| 80,424 (3) | Ginnie Mae 2013-H21 FB, 6.167%, (TSFR1M + 0.814%), 09/20/2063 | 80,578 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 264,329 (3) | Ginnie Mae 2013-H22 FB, 6.167%, (TSFR1M + 0.814%), 08/20/2063 | $ | 264,796 | 0.0 | ||||||
| 877,581 (3) | Ginnie Mae 2013-H22 FT, 5.300%, (H15T1Y + 0.650%), 04/20/2063 | 875,853 | 0.1 | |||||||
| 212,265 (3) | Ginnie Mae 2013-H23 FA, 6.767%, (TSFR1M + 1.414%), 09/20/2063 | 214,311 | 0.0 | |||||||
| 18,995 (3) | Ginnie Mae 2013-H24 FB, 6.197%, (TSFR1M + 0.844%), 09/20/2063 | 19,036 | 0.0 | |||||||
| 1,551,318 (3)(4) | Ginnie Mae 2014-107 XS, 0.389%, (-1.000*TSFR1M + 5.486%), 07/16/2044 | 134,491 | 0.0 | |||||||
| 2,793,200 | Ginnie Mae 2014-115 EM, 4.000%, 08/20/2044 | 2,690,709 | 0.2 | |||||||
| 2,336,716 | Ginnie Mae 2014-118 ZP, 4.000%, 08/20/2044 | 2,250,275 | 0.2 | |||||||
| 1,007,219 (3)(4) | Ginnie Mae 2014-129 WS, 0.585%, (-1.000*TSFR1M + 5.786%), 09/20/2044 | 79,047 | 0.0 | |||||||
| 1,850,316 | Ginnie Mae 2014-149 KL, 4.000%, 10/16/2044 | 1,715,299 | 0.1 | |||||||
| 788,818 (3)(4) | Ginnie Mae 2014-161 WS, 0.585%, (-1.000*TSFR1M + 5.786%), 11/20/2044 | 63,382 | 0.0 | |||||||
| 919,428 (4) | Ginnie Mae 2014-183 IM, 5.000%, 06/20/2035 | 142,631 | 0.0 | |||||||
| 1,082,622 (3)(4) | Ginnie Mae 2014-30 ES, 0.047%, (-1.000*TSFR1M + 4.886%), 03/20/2040 | 74,540 | 0.0 | |||||||
| 744,868 (3)(4) | Ginnie Mae 2014-96 SQ, 0.389%, (-1.000*TSFR1M + 5.486%), 07/16/2044 | 64,391 | 0.0 | |||||||
| 1,639,888 (4) | Ginnie Mae 2014-99 IO, 4.500%, 06/20/2044 | 342,469 | 0.0 | |||||||
| 4,437,955 (3) | Ginnie Mae 2014-H03 FS, 6.117%, (TSFR1M + 0.764%), 02/20/2064 | 4,442,416 | 0.4 | |||||||
| 392,850 (3) | Ginnie Mae 2014-H04 FB, 6.117%, (TSFR1M + 0.764%), 02/20/2064 | 393,254 | 0.0 | |||||||
| 448,045 (3) | Ginnie Mae 2014-H05 FB, 6.067%, (TSFR1M + 0.714%), 12/20/2063 | 448,115 | 0.0 | |||||||
| 337,124 (3) | Ginnie Mae 2014-H06 FA, 6.037%, (TSFR1M + 0.684%), 03/20/2064 | 337,100 | 0.0 | |||||||
| 165,731 (3) | Ginnie Mae 2014-H06 HB, 6.117%, (TSFR1M + 0.764%), 03/20/2064 | 165,913 | 0.0 | |||||||
| 1,868,591 (3) | Ginnie Mae 2014-H11 VA, 5.967%, (TSFR1M + 0.614%), 06/20/2064 | 1,866,610 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
49
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,409,820 (3) | Ginnie Mae 2014-H15 FA, 5.967%, (TSFR1M + 0.614%), 07/20/2064 | $ | 2,407,716 | 0.2 | ||||||
| 1,094,784 (3) | Ginnie Mae 2014-H21 FA, 6.117%, (TSFR1M + 0.764%), 10/20/2064 | 1,093,953 | 0.1 | |||||||
| 7,854,272 (3) | Ginnie Mae 2015-10 Q, 2.417%, 10/20/2044 | 6,874,318 | 0.6 | |||||||
| 130,000 | Ginnie Mae 2015-123 GY, 3.000%, 09/20/2045 | 104,553 | 0.0 | |||||||
| 2,364,266 (3)(4) | Ginnie Mae 2015-141 IX, 0.311%, (-1.000*TSFR1M + 2.060%), 06/20/2045 | 37,109 | 0.0 | |||||||
| 15,125,000 | Ginnie Mae 2015-143 B, 3.500%, 04/20/2045 | 14,061,709 | 1.1 | |||||||
| 1,725,248 (4) | Ginnie Mae 2015-149 IL, 4.500%, 10/20/2045 | 379,722 | 0.0 | |||||||
| 902,180 (4) | Ginnie Mae 2015-157 PI, 4.000%, 03/20/2044 | 90,011 | 0.0 | |||||||
| 2,213,608 | Ginnie Mae 2015-165 ZA, 3.500%, 07/20/2045 | 2,120,116 | 0.2 | |||||||
| 4,898,686 | Ginnie Mae 2015-64 ZH, 2.500%, 05/16/2045 | 4,341,154 | 0.3 | |||||||
| 546,893 (3) | Ginnie Mae 2015-H03 FA, 5.967%, (TSFR1M + 0.614%), 12/20/2064 | 546,381 | 0.0 | |||||||
| 1,816,821 (3) | Ginnie Mae 2015-H05 FC, 5.947%, (TSFR1M + 0.594%), 02/20/2065 | 1,811,299 | 0.1 | |||||||
| 669,657 (3) | Ginnie Mae 2015-H06 FA, 5.947%, (TSFR1M + 0.594%), 02/20/2065 | 668,907 | 0.1 | |||||||
| 1,121,505 (3) | Ginnie Mae 2015-H08 FC, 5.947%, (TSFR1M + 0.594%), 03/20/2065 | 1,120,668 | 0.1 | |||||||
| 992,274 (3) | Ginnie Mae 2015-H10 FH, 6.067%, (TSFR1M + 0.714%), 04/20/2065 | 990,504 | 0.1 | |||||||
| 122,058 (3) | Ginnie Mae 2015-H12 FA, 5.947%, (TSFR1M + 0.594%), 05/20/2065 | 121,967 | 0.0 | |||||||
| 1,877,916 (3) | Ginnie Mae 2015-H13 FG, 5.867%, (TSFR1M + 0.514%), 04/20/2065 | 1,873,359 | 0.2 | |||||||
| 142,832 (3) | Ginnie Mae 2015-H14 FB, 5.897%, (TSFR1M + 0.544%), 05/20/2065 | 142,521 | 0.0 | |||||||
| 700,695 (3) | Ginnie Mae 2015-H18 FB, 6.067%, (TSFR1M + 0.714%), 07/20/2065 | 699,768 | 0.1 | |||||||
| 608,235 (3) | Ginnie Mae 2015-H20 FB, 6.067%, (TSFR1M + 0.714%), 08/20/2065 | 607,345 | 0.1 | |||||||
| 1,055,009 (3) | Ginnie Mae 2015-H22 FC, 6.067%, (TSFR1M + 0.714%), 09/20/2065 | 1,053,396 | 0.1 | |||||||
| 1,283,062 (3) | Ginnie Mae 2015-H23 FB, 5.987%, (TSFR1M + 0.634%), 09/20/2065 | 1,282,460 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 895,357 (3) | Ginnie Mae 2015-H26 FA, 5.987%, (TSFR1M + 0.634%), 10/20/2065 | $ | 894,893 | 0.1 | ||||||
| 231,354 (3) | Ginnie Mae 2015-H26 FC, 6.067%, (TSFR1M + 0.714%), 08/20/2065 | 231,398 | 0.0 | |||||||
| 723,380 (3) | Ginnie Mae 2015-H26 FG, 5.987%, (TSFR1M + 0.634%), 10/20/2065 | 721,457 | 0.1 | |||||||
| 2,226,798 (3) | Ginnie Mae 2015-H29 FL, 6.067%, (TSFR1M + 0.714%), 11/20/2065 | 2,223,684 | 0.2 | |||||||
| 4,005,693 (3) | Ginnie Mae 2015-H30 FE, 6.067%, (TSFR1M + 0.714%), 11/20/2065 | 4,007,835 | 0.3 | |||||||
| 223,491 (3) | Ginnie Mae 2015-H31 FT, 6.117%, (TSFR1M + 0.764%), 11/20/2065 | 223,596 | 0.0 | |||||||
| 9,880,907 (4) | Ginnie Mae 2016-120 IM, 3.500%, 07/20/2046 | 1,233,315 | 0.1 | |||||||
| 4,452,295 (4) | Ginnie Mae 2016-145 IU, 3.500%, 10/20/2046 | 789,346 | 0.1 | |||||||
| 4,494,969 (3)(4) | Ginnie Mae 2016-20 BS, 1.025%, (-1.000*TSFR1M + 5.986%), 02/20/2046 | 584,235 | 0.0 | |||||||
| 2,355,831 (3) | Ginnie Mae 2016-5 AB, 4.692%, 01/20/2046 | 2,399,120 | 0.2 | |||||||
| 3,922,065 | Ginnie Mae 2016-69 B, 3.000%, 05/20/2046 | 3,538,698 | 0.3 | |||||||
| 109,410 (3) | Ginnie Mae 2016-H01 FL, 6.117%, (TSFR1M + 0.764%), 12/20/2065 | 109,526 | 0.0 | |||||||
| 979,708 (3) | Ginnie Mae 2016-H02 FH, 6.467%, (TSFR1M + 1.114%), 01/20/2066 | 984,007 | 0.1 | |||||||
| 229,214 (3) | Ginnie Mae 2016-H03 FB, 6.117%, (TSFR1M + 0.764%), 01/20/2066 | 229,012 | 0.0 | |||||||
| 201,023 (3) | Ginnie Mae 2016-H07 FK, 6.467%, (TSFR1M + 1.114%), 03/20/2066 | 201,841 | 0.0 | |||||||
| 690,639 (3) | Ginnie Mae 2016-H09 FB, 6.367%, (TSFR1M + 1.014%), 04/20/2066 | 692,256 | 0.1 | |||||||
| 2,000,049 (3) | Ginnie Mae 2016-H11 F, 6.267%, (TSFR1M + 0.914%), 05/20/2066 | 2,002,253 | 0.2 | |||||||
| 618,706 (3) | Ginnie Mae 2016-H11 FE, 6.317%, (TSFR1M + 0.964%), 04/20/2066 | 619,764 | 0.1 | |||||||
| 431,746 (3) | Ginnie Mae 2016-H13 FD, 5.100%, (H15T1Y + 0.450%), 05/20/2066 | 429,622 | 0.0 | |||||||
| 88,025 (3) | Ginnie Mae 2016-H13 FT, 6.047%, (TSFR1M + 0.694%), 05/20/2066 | 88,033 | 0.0 | |||||||
| 5,789,197 (3) | Ginnie Mae 2016-H20 FB, 6.017%, (TSFR1M + 0.664%), 09/20/2066 | 5,786,887 | 0.5 | |||||||
See Accompanying Notes to Financial Statements
50
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 67,516 (3) | Ginnie Mae 2016-H20 FG, 6.167%, (TSFR1M + 0.814%), 08/20/2066 | $ | 67,542 | 0.0 | ||||||
| 1,293,163 (3) | Ginnie Mae 2016-H21 FH, 6.317%, (TSFR1M + 0.964%), 09/20/2066 | 1,295,460 | 0.1 | |||||||
| 2,969,878 (3) | Ginnie Mae 2016-H23 F, 6.217%, (TSFR1M + 0.864%), 10/20/2066 | 2,989,795 | 0.2 | |||||||
| 3,963,080 | Ginnie Mae 2017-107 QZ, 3.000%, 08/20/2045 | 3,347,317 | 0.3 | |||||||
| 1,000,000 | Ginnie Mae 2017-117 BE, 2.500%, 08/20/2047 | 839,469 | 0.1 | |||||||
| 1,000,000 | Ginnie Mae 2017-117 NG, 2.500%, 08/20/2047 | 825,346 | 0.1 | |||||||
| 1,749,560 | Ginnie Mae 2017-122 CZ, 3.000%, 08/20/2047 | 1,416,940 | 0.1 | |||||||
| 1,811,365 (4) | Ginnie Mae 2017-123 IO, 5.000%, 08/16/2047 | 386,180 | 0.0 | |||||||
| 2,890,000 | Ginnie Mae 2017-162 PL, 3.000%, 10/20/2047 | 2,331,858 | 0.2 | |||||||
| 750,000 | Ginnie Mae 2017-163 YA, 2.500%, 11/20/2047 | 630,077 | 0.1 | |||||||
| 10,000,000 | Ginnie Mae 2017-180 QB, 2.500%, 12/20/2047 | 8,643,502 | 0.7 | |||||||
| 1,136,541 | Ginnie Mae 2017-56 HM, 3.000%, 12/20/2046 | 1,054,506 | 0.1 | |||||||
| 5,277,101 | Ginnie Mae 2017-56 JZ, 3.000%, 04/20/2047 | 4,507,034 | 0.4 | |||||||
| 671,667 (3) | Ginnie Mae 2017-H07 FG, 5.927%, (TSFR1M + 0.574%), 02/20/2067 | 670,510 | 0.1 | |||||||
| 779,640 (3) | Ginnie Mae 2017-H14 FV, 5.967%, (TSFR1M + 0.614%), 06/20/2067 | 778,678 | 0.1 | |||||||
| 840,043 (3) | Ginnie Mae 2017-H17 FG, 5.967%, (TSFR1M + 0.614%), 08/20/2067 | 839,135 | 0.1 | |||||||
| 248,987 (3) | Ginnie Mae 2017-H19 FA, 5.917%, (TSFR1M + 0.564%), 08/20/2067 | 248,388 | 0.0 | |||||||
| 1,245,532 | Ginnie Mae 2018-112 AL, 3.500%, 08/20/2048 | 1,166,348 | 0.1 | |||||||
| 366,436 | Ginnie Mae 2018-163 DZ, 4.500%, 11/20/2048 | 346,374 | 0.0 | |||||||
| 590,426 (4) | Ginnie Mae 2018-78 IC, 4.000%, 02/20/2047 | 86,140 | 0.0 | |||||||
| 1,000,000 | Ginnie Mae 2018-91 JN, 3.000%, 07/20/2048 | 863,716 | 0.1 | |||||||
| 174,196 (3) | Ginnie Mae 2018-H07 FE, 5.817%, (TSFR1M + 0.464%), 02/20/2068 | 173,763 | 0.0 | |||||||
| 10,145,694 | Ginnie Mae 2019-1 LZ, 3.500%, 01/20/2049 | 8,903,535 | 0.7 | |||||||
| 1,399,081 | Ginnie Mae 2019-1 Z, 4.000%, 01/20/2049 | 1,335,695 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,679,865 (3) | Ginnie Mae 2019-100 FD, 5.475%, (TSFR1M + 0.514%), 08/20/2049 | $ | 2,652,879 | 0.2 | ||||||
| 10,091,624 | Ginnie Mae 2019-123 CA, 3.000%, 10/20/2049 | 9,237,588 | 0.7 | |||||||
| 734,635 (4) | Ginnie Mae 2019-29 AI, 5.000%, 07/20/2048 | 158,324 | 0.0 | |||||||
| 11,611,424 (4) | Ginnie Mae 2019-56 YI, 5.000%, 05/20/2049 | 2,684,192 | 0.2 | |||||||
| 109,899 | Ginnie Mae 2019-71 EN, 4.000%, 06/20/2049 | 95,403 | 0.0 | |||||||
| 1,250,576 (3) | Ginnie Mae 2019-H01 FL, 5.917%, (TSFR1M + 0.564%), 12/20/2068 | 1,252,879 | 0.1 | |||||||
| 1,355,024 (3) | Ginnie Mae 2019-H05 FL, 5.947%, (TSFR1M + 0.594%), 03/20/2069 | 1,350,191 | 0.1 | |||||||
| 280,872 (3) | Ginnie Mae 2019-H10 FM, 5.867%, (TSFR1M + 0.514%), 05/20/2069 | 280,100 | 0.0 | |||||||
| 875,124 (3) | Ginnie Mae 2019-H19 FB, 5.917%, (TSFR1M + 0.564%), 11/20/2069 | 873,541 | 0.1 | |||||||
| 18,080,889 (4) | Ginnie Mae 2020-47 LI, 3.500%, 04/20/2050 | 3,476,921 | 0.3 | |||||||
| 252,588 (3) | Ginnie Mae 2020-H01 FT, 5.150%, (H15T1Y + 0.500%), 01/20/2070 | 251,272 | 0.0 | |||||||
| 356,124 (3) | Ginnie Mae 2020-H09 FL, 6.617%, (TSFR1M + 1.264%), 05/20/2070 | 361,162 | 0.0 | |||||||
| 7,977,450 (3)(4) | Ginnie Mae 2021-58 SB, 1.225%, (-1.000*TSFR1M + 6.186%), 04/20/2051 | 1,042,960 | 0.1 | |||||||
| 5,471,968 (4) | Ginnie Mae 2021-74 KI, 3.000%, 04/20/2051 | 870,232 | 0.1 | |||||||
| 13,880,579 (3)(4) | Ginnie Mae 2021-77 SK, 0.286%, (-1.000*TSFR1M + 3.186%), 05/20/2051 | 276,743 | 0.0 | |||||||
| 110,340 (3) | Ginnie Mae 2021-H09 Z, 3.085%, 10/20/2066 | 104,945 | 0.0 | |||||||
| 11,569,390 | Ginnie Mae 2022-205 ZG, 5.500%, 12/20/2052 | 11,895,147 | 0.9 | |||||||
| 2,346,452 | Ginnie Mae 2022-47 EB, 3.000%, 03/20/2037 | 2,012,016 | 0.2 | |||||||
| 6,195,167 | Ginnie Mae 2024-20 VZ, 5.500%, 09/20/2053 | 6,351,272 | 0.5 | |||||||
| 11,596,550 (3) | Ginnie Mae 2024-43 F, 6.295%, (SOFR30A + 0.950%), 03/20/2054 | 11,613,141 | 0.9 | |||||||
| 5,232,283 | Seasoned Credit Risk Transfer Trust Series 2017-2 MA, 3.000%, 08/25/2056 | 4,928,927 | 0.4 | |||||||
See Accompanying Notes to Financial Statements
51
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,313,416 (3) | Seasoned Credit Risk Transfer Trust Series 2018-2 HA, 3.000%, 11/25/2057 | $ | 1,246,597 | 0.1 | ||||||
| 3,681,329 | Seasoned Credit Risk Transfer Trust Series 2019-1 M55D, 4.000%, 07/25/2058 | 3,461,477 | 0.3 | |||||||
| 1,576,765 | Seasoned Credit Risk Transfer Trust Series 2019-3 M55D, 4.000%, 10/25/2058 | 1,484,409 | 0.1 | |||||||
| 7,835,000 | Seasoned Loans Structured Transaction Series 2019-1 A2, 3.500%, 05/25/2029 | 7,576,964 | 0.6 | |||||||
| 2,895,205 | Seasoned Loans Structured Transaction Trust Series 2019-2 A1C, 2.750%, 09/25/2029 | 2,739,110 | 0.2 | |||||||
| 5,875,000 | Seasoned Loans Structured Transaction Trust Series 2019-3 A2C, 2.750%, 11/25/2029 | 5,453,030 | 0.4 | |||||||
| 1,094,729 | Vendee Mortgage Trust 2003-2 Z, 5.000%, 05/15/2033 | 1,111,206 | 0.1 | |||||||
| 2,281,673 | Vendee Mortgage Trust 2011-2 DZ, 3.750%, 10/15/2041 | 2,167,249 | 0.2 | |||||||
| 19,984,792 (3)(4) | Vendee Mortgage Trust 2011-2 IO, 0.360%, 10/15/2041 | 293,674 | 0.0 | |||||||
| Total Collateralized Mortgage Obligations (Cost $583,938,854) | 544,421,662 | 43.3 | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: 3.4% | ||||||||||
| 8,753,770 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K106 X1, 1.439%, 01/25/2030 | 509,519 | 0.1 | |||||||
| 29,765,160 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K108 X1, 1.810%, 03/25/2030 | 2,237,743 | 0.2 | |||||||
| 19,295,745 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K110 X1, 1.811%, 04/25/2030 | 1,434,085 | 0.1 | |||||||
| 2,963,174 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K119 X1, 1.020%, 09/25/2030 | 130,533 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 16,409,472 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K-1516 X1, 1.628%, 05/25/2035 | $ | 1,878,850 | 0.2 | ||||||
| 14,651,382 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K-1517 X1, 1.436%, 07/25/2035 | 1,472,429 | 0.1 | |||||||
| 33,887,801 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K-1519 X1, 0.690%, 12/25/2035 | 1,565,803 | 0.1 | |||||||
| 24,416,815 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K740 X1, 0.823%, 09/25/2027 | 445,325 | 0.0 | |||||||
| 31,466,000 (4) | Freddie Mac Multifamily Structured Pass Through Certificates KL06 XFX, 1.467%, 12/25/2029 | 1,577,965 | 0.1 | |||||||
| 34,216,370 (3)(4) | Freddie Mac Multifamily Structured Pass Through Certificates KLU3 X1, 2.074%, 01/25/2031 | 2,988,848 | 0.3 | |||||||
| 232,626 (3) | Ginnie Mae 2004-23 Z, 5.752%, 03/16/2044 | 231,703 | 0.0 | |||||||
| 2,447,807 (3)(4) | Ginnie Mae 2006-67 IO, 0.681%, 11/16/2046 | 8,221 | 0.0 | |||||||
| 41,731 (3) | Ginnie Mae 2007-52 Z, 4.350%, 01/16/2048 | 41,610 | 0.0 | |||||||
| 455,533 | Ginnie Mae 2008-39 Z, 4.500%, 02/16/2048 | 443,843 | 0.0 | |||||||
| 216,742 (3)(4) | Ginnie Mae 2008-45 IO, 0.861%, 02/16/2048 | 318 | 0.0 | |||||||
| 54,117 (3)(4) | Ginnie Mae 2010-123 IA, 2.050%, 10/16/2052 | 551 | 0.0 | |||||||
| 7,468,361 (3)(4) | Ginnie Mae 2011-47 IO, 0.209%, 01/16/2051 | 21,295 | 0.0 | |||||||
| 394,203 (3)(4) | Ginnie Mae 2017-9 IO, 0.658%, 01/16/2057 | 14,892 | 0.0 | |||||||
| 2,039,277 (3) | Ginnie Mae 2018-114 Z, 3.100%, 04/16/2060 | 1,587,164 | 0.1 | |||||||
| 11,500,110 | Ginnie Mae 2018-116 Z, 3.000%, 06/16/2058 | 9,696,199 | 0.8 | |||||||
| 2,052,892 | Ginnie Mae 2018-169 Z, 3.000%, 04/16/2061 | 1,421,611 | 0.1 | |||||||
| 2,042,193 | Ginnie Mae 2019-17 Z, 3.000%, 12/16/2060 | 1,351,805 | 0.1 | |||||||
| 2,713,417 (3) | Ginnie Mae 2019-19 Z, 3.200%, 11/16/2060 | 2,210,035 | 0.2 | |||||||
| 3,532,158 | Ginnie Mae 2019-53 Z, 3.000%, 06/16/2061 | 2,620,768 | 0.2 | |||||||
| 5,300,116 | Ginnie Mae 2021-79 Z, 1.750%, 08/16/2063 | 2,325,622 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
52
| PORTFOLIO OF INVESTMENTS | |
| Voya GNMA Income Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 2,628,095 | Ginnie Mae 2021-80 Z, 1.500%, 12/16/2062 | $ | 1,149,419 | 0.1 | ||||||
| 2,333,712 | Ginnie Mae 2021-90 B, 1.750%, 05/16/2061 | 1,161,763 | 0.1 | |||||||
| 4,060,650 (3)(4) | Ginnie Mae 2023-88 IO, 0.923%, 03/16/2065 | 301,704 | 0.0 | |||||||
| 57,914,901 (3)(4) | Ginnie Mae 2024-82 AI, 0.741%, 10/16/2065 | 3,883,183 | 0.3 | |||||||
| Total Commercial Mortgage-Backed Securities (Cost $54,247,404) | 42,712,806 | 3.4 | ||||||||
| U.S. TREASURY OBLIGATIONS: 1.6% | ||||||||||
| United States Treasury Notes: 1.6% | ||||||||||
| 19,868,000 | 3.500%, 09/30/2031 | 19,832,300 | 1.6 | |||||||
| Total U.S. Treasury Obligations (Cost $19,868,369) | 19,832,300 | 1.6 | ||||||||
| ASSET-BACKED SECURITIES: 0.1% | ||||||||||
| Other Asset-Backed Securities: 0.1% | ||||||||||
| 784,787 (3) | Fannie Mae Grantor Trust 2001-T9 A1, 5.079%, (TSFR1M + 0.224%), 09/25/2031 | 778,414 | 0.1 | |||||||
| 85,436 (3) | Fannie Mae Grantor Trust 2003-T4 2A6, 4.392%, 07/26/2033 | 84,243 | 0.0 | |||||||
| 3,365 (3) | Fannie Mae REMIC Trust 2001-W4 AF6, 5.110%, 01/25/2032 | 3,353 | 0.0 | |||||||
| 4,282 (3) | Fannie Mae REMIC Trust 2002-W12 AF6, 5.066%, 02/25/2033 | 4,259 | 0.0 | |||||||
| 3,235 (3) | Fannie Mae REMIC Trust 2002-W2 AF6, 6.000%, 05/25/2032 | 3,262 | 0.0 | |||||||
| 873,531 | 0.1 | |||||||||
| Total Asset-Backed Securities (Cost $874,835) | 873,531 | 0.1 | ||||||||
| Total Long-Term Investments (Cost $1,677,765,842) | 1,594,716,967 | 126.9 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: 0.8% | ||||||||||
| U.S. Treasury Obligations: 0.8% | ||||||||||
| 10,275,000 (6) | United States Treasury Bill, 4.610%, 10/31/2024 | $ | 10,235,009 | 0.8 | ||||||
| Total Short-Term Investments (Cost $10,233,168) | 10,235,009 | 0.8 | ||||||||
| Total Investments in Securities (Cost $1,687,999,010) | $ | 1,604,951,976 | 127.7 | |||||||
| Liabilities in Excess of Other Assets | (348,358,593 | ) | (27.7 | ) | ||||||
| Net Assets | $ | 1,256,593,383 | 100.0 | |||||||
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | 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. |
| (2) | Represents or includes a TBA transaction. |
| (3) | Variable rate security. Rate shown is the rate in effect as of September 30, 2024. |
| (4) | 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. |
| (5) | 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. |
| (6) | Represents a zero coupon bond. Rate shown reflects the effective yield as of September 30, 2024. |
| Reference Rate Abbreviations: | |
| H15T1Y | U.S. Treasury 1-Year Constant Maturity |
| SOFR30A | 30-day Secured Overnight Financing Rate |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
See Accompanying Notes to Financial Statements
53
| Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||
| Asset Table | ||||||||||||
| Investments, at fair value | ||||||||||||
| U.S. Government Agency Obligations | $ | — | $ | 986,876,668 | $ | — | $ | 986,876,668 | ||||
| Collateralized Mortgage Obligations | — | 544,421,662 | — | 544,421,662 | ||||||||
| Commercial Mortgage-Backed Securities | — | 42,712,806 | — | 42,712,806 | ||||||||
| U.S. Treasury Obligations | — | 19,832,300 | — | 19,832,300 | ||||||||
| Asset-Backed Securities | — | 873,531 | — | 873,531 | ||||||||
| Short-Term Investments | — | 10,235,009 | — | 10,235,009 | ||||||||
| Total Investments, at fair value | $ | — | $ | 1,604,951,976 | $ | — | $ | 1,604,951,976 | ||||
| Other Financial Instruments+ | ||||||||||||
| Futures | 340,924 | — | — | 340,924 | ||||||||
| Total Assets | $ | 340,924 | $ | 1,604,951,976 | $ | — | $ | 1,605,292,900 | ||||
| Liabilities Table | ||||||||||||
| Other Financial Instruments+ | ||||||||||||
| Futures | $ | (100,716) | $ | — | $ | — | $ | (100,716) | ||||
| Sales Commitments | — | (15,037,847) | — | (15,037,847) | ||||||||
| Total Liabilities | $ | (100,716) | $ | (15,037,847) | $ | — | $ | (15,138,563) | ||||
| ^ | 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. |
At September 30, 2024, the following futures contracts were outstanding for Voya GNMA Income Fund:
| Description | Number of Contracts | Expiration Date | Notional Amount | Unrealized Appreciation/ (Depreciation) | |||||||
| Short Contracts: | |||||||||||
| U.S. Treasury 2-Year Note | (62 | ) | 12/31/24 | $ | (12,911,016) | $ | (26,275) | ||||
| U.S. Treasury 5-Year Note | (930 | ) | 12/31/24 | (102,191,015) | (74,441) | ||||||
| U.S. Treasury 10-Year Note | (1,003 | ) | 12/19/24 | (114,624,094) | 10,034 | ||||||
| U.S. Treasury Long Bond | (218 | ) | 12/19/24 | (27,072,875) | 130,674 | ||||||
| U.S. Treasury Ultra 10-Year Note | (134 | ) | 12/19/24 | (15,851,781) | 192,348 | ||||||
| U.S. Treasury Ultra Long Bond | (8 | ) | 12/19/24 | (1,064,750) | 7,868 | ||||||
| $ | (273,715,531) | $ | 240,208 | ||||||||
The following sales commitments were held by the Voya GNMA Income Fund at September 30, 2024:
| Principal Amount | Description | Contractual Settlement Date | Fair Value | ||||||
| $ | (5,519,000 | ) | Ginnie Mae, 0.040%, due 10/20/54 | 10/21/24 | $ | (5,335,587) | |||
| (6,480,000 | ) | Uniform Mortgage-Backed Securities, 0.050%, due 10/01/54 | 10/15/24 | (6,475,697) | |||||
| (3,500,000 | ) | Uniform Mortgage-Backed Securities, 4.500%, due 06/25/54 | 11/14/24 | (3,226,563) | |||||
| Total Sales Commitments | |||||||||
| Proceeds receivable $(15,305,856) | $ | (15,037,847) | |||||||
See Accompanying Notes to Financial Statements
54
| Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of September 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | |||
| Asset Derivatives | |||||
| Interest rate contracts | Variation margin receivable on futures contracts* | $ | 340,924 | ||
| Total Asset Derivatives | $ | 340,924 | |||
| Liability Derivatives | |||||
| Interest rate contracts | Variation margin payable on futures contracts* | $ | 100,716 | ||
| Total Liability Derivatives | $ | 100,716 | |||
| * | 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 Fund’s Statement of Operations for the period ended September 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | ||
| Interest rate contracts | $ | (8,766,067) | |
| Total | $ | (8,766,067) | |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | ||
| Interest rate contracts | $ | 787,994 | |
| Total | $ | 787,994 | |
At September 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 $1,691,086,826. | |||
| Net unrealized depreciation consisted of: | |||
| Gross Unrealized Appreciation | $ | 8,962,088 | |
| Gross Unrealized Depreciation | (94,814,580) | ||
| Net Unrealized Depreciation | $ | (85,852,492) | |
See Accompanying Notes to Financial Statements
55
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: 94.2% | |||||||||
| Basic Materials: 6.1% | |||||||||
| 1,750,000 (1) | Avient Corp., 6.250%, 11/01/2031 | $ | 1,795,374 | 0.4 | |||||
| 950,000 (1) | Axalta Coating Systems Dutch Holding B BV, 7.250%, 02/15/2031 | 1,015,685 | 0.2 | ||||||
| 300,000 (1) | Axalta Coating Systems LLC, 3.375%, 02/15/2029 | 281,163 | 0.1 | ||||||
| 1,250,000 (1) | Cleveland-Cliffs, Inc., 4.625%, 03/01/2029 | 1,181,283 | 0.3 | ||||||
| 625,000 (1) | Cleveland-Cliffs, Inc., 4.875%, 03/01/2031 | 581,403 | 0.1 | ||||||
| 1,150,000 (1) | Coeur Mining, Inc., 5.125%, 02/15/2029 | 1,117,879 | 0.3 | ||||||
| 1,400,000 (1)(2) | Consolidated Energy Finance SA, 5.625%, 10/15/2028 | 1,184,905 | 0.3 | ||||||
| 1,450,000 (1) | Constellium SE, 5.625%, 06/15/2028 | 1,448,286 | 0.3 | ||||||
| 315,000 (1) | Constellium SE, 6.375%, 08/15/2032 | 323,579 | 0.1 | ||||||
| 1,850,000 (1) | Hudbay Minerals, Inc., 4.500%, 04/01/2026 | 1,831,487 | 0.4 | ||||||
| 1,225,000 (1) | Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.000%, 07/01/2028 | 1,239,660 | 0.3 | ||||||
| 1,350,000 (1) | INEOS Quattro Finance 2 PLC, 3.375%, 01/15/2026 | 1,334,058 | 0.3 | ||||||
| 1,400,000 (1)(3) | Iris Holdings, Inc., 8.750% (PIK Rate 8.750%, Cash Rate 9.500%), 02/15/2026 | 1,312,103 | 0.3 | ||||||
| 1,175,000 (1) | LSF11 A5 HoldCo LLC, 6.625%, 10/15/2029 | 1,144,098 | 0.3 | ||||||
| 1,575,000 (1) | Mativ Holdings, Inc., 6.875%, 10/01/2026 | 1,575,275 | 0.4 | ||||||
| 905,000 (1) | Mativ Holdings, Inc., 8.000%, 10/01/2029 | 924,842 | 0.2 | ||||||
| 925,000 (1) | NOVA Chemicals Corp., 8.500%, 11/15/2028 | 988,535 | 0.2 | ||||||
| 400,000 (1) | Novelis Corp., 3.250%, 11/15/2026 | 386,347 | 0.1 | ||||||
| 975,000 (1) | Novelis Corp., 3.875%, 08/15/2031 | 892,283 | 0.2 | ||||||
| 350,000 (1) | Novelis Corp., 4.750%, 01/30/2030 | 339,630 | 0.1 | ||||||
| 1,125,000 (1) | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/2030 | 1,044,875 | 0.3 | ||||||
| 550,000 (1)(2) | Olympus Water US Holding Corp., 4.250%, 10/01/2028 | 525,693 | 0.1 | ||||||
| 800,000 (1) | Olympus Water US Holding Corp., 7.125%, 10/01/2027 | 817,238 | 0.2 | ||||||
| 1,575,000 (1) | SPCM SA, 3.125%, 03/15/2027 | 1,504,932 | 0.4 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Basic Materials: (continued) | |||||||||
| 1,500,000 (1) | Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.125%, 04/01/2029 | $ | 730,240 | 0.2 | |||||
| 25,520,853 | 6.1 | ||||||||
| Communications: 12.5% | |||||||||
| 1,250,000 (1) | Altice Financing SA, 5.750%, 08/15/2029 | 1,005,705 | 0.2 | ||||||
| 2,675,000 (1) | Altice France SA, 5.125%, 07/15/2029 | 1,883,596 | 0.4 | ||||||
| 900,000 (1) | Beasley Mezzanine Holdings LLC, 8.625%, 02/01/2026 | 519,750 | 0.1 | ||||||
| 1,400,000 (1) | Cablevision Lightpath LLC, 5.625%, 09/15/2028 | 1,316,088 | 0.3 | ||||||
| 3,100,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 2,812,343 | 0.7 | ||||||
| 2,300,000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 1,990,485 | 0.5 | ||||||
| 1,725,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 1,679,292 | 0.4 | ||||||
| 1,775,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 1,748,297 | 0.4 | ||||||
| 675,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 674,188 | 0.2 | ||||||
| 1,650,000 (1) | Connect Finco Sarl / Connect US Finco LLC, 6.750%, 10/01/2026 | 1,650,000 | 0.4 | ||||||
| 2,200,000 (1)(2) | Connect Finco Sarl / Connect US Finco LLC, 9.000%, 09/15/2029 | 2,131,767 | 0.5 | ||||||
| 3,600,000 (1) | CSC Holdings LLC, 11.250%, 05/15/2028 | 3,478,093 | 0.8 | ||||||
| 2,400,000 (1) | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 08/15/2027 | 2,358,090 | 0.6 | ||||||
| 2,300,000 (1) | DISH Network Corp., 11.750%, 11/15/2027 | 2,415,794 | 0.6 | ||||||
| 1,175,000 (1) | GCI LLC, 4.750%, 10/15/2028 | 1,129,353 | 0.3 | ||||||
| 1,825,000 (1) | Gray Escrow II, Inc., 5.375%, 11/15/2031 | 1,142,744 | 0.3 | ||||||
| 2,015,000 (1) | Level 3 Financing, Inc., 4.000%, 04/15/2031 | 1,475,988 | 0.3 | ||||||
| 2,000,000 (1) | Level 3 Financing, Inc., 10.500%, 05/15/2030 | 2,162,500 | 0.5 | ||||||
See Accompanying Notes to Financial Statements
56
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Communications: (continued) | |||||||||
| 2,100,000 (1) | Match Group Holdings II LLC, 4.625%, 06/01/2028 | $ | 2,043,530 | 0.5 | |||||
| 1,795,000 (1) | McGraw-Hill Education, Inc., 8.000%, 08/01/2029 | 1,802,929 | 0.4 | ||||||
| 1,760,000 (1) | Newfold Digital Holdings Group, Inc., 6.000%, 02/15/2029 | 1,180,775 | 0.3 | ||||||
| 1,125,000 (1)(2) | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 1,069,954 | 0.3 | ||||||
| 645,000 (1) | Sirius XM Radio, Inc., 3.125%, 09/01/2026 | 623,672 | 0.1 | ||||||
| 3,275,000 (1) | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | 3,224,240 | 0.8 | ||||||
| 1,450,000 (1) | Stagwell Global LLC, 5.625%, 08/15/2029 | 1,403,003 | 0.3 | ||||||
| 2,135,000 (1)(2) | Univision Communications, Inc., 6.625%, 06/01/2027 | 2,143,388 | 0.5 | ||||||
| 900,000 (1)(2) | Viasat, Inc., 6.500%, 07/15/2028 | 707,052 | 0.2 | ||||||
| 700,000 (1)(2) | Viasat, Inc., 7.500%, 05/30/2031 | 482,804 | 0.1 | ||||||
| 1,025,000 (1) | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 931,132 | 0.2 | ||||||
| 2,500,000 (1)(2) | Virgin Media Vendor Financing Notes IV DAC, 5.000%, 07/15/2028 | 2,411,456 | 0.6 | ||||||
| 1,550,000 (1) | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 1,381,255 | 0.3 | ||||||
| 1,455,000 (1) | Windstream Escrow LLC / Windstream Escrow Finance Corp., 8.250%, 10/01/2031 | 1,481,098 | 0.4 | ||||||
| 52,460,361 | 12.5 | ||||||||
| Consumer, Cyclical: 17.2% | |||||||||
| 1,400,000 (1)(2) | Adient Global Holdings Ltd., 4.875%, 08/15/2026 | 1,387,968 | 0.3 | ||||||
| 525,000 (1)(2) | Adient Global Holdings Ltd., 8.250%, 04/15/2031 | 557,616 | 0.1 | ||||||
| 1,300,000 (1) | Allison Transmission, Inc., 5.875%, 06/01/2029 | 1,309,114 | 0.3 | ||||||
| 1,175,000 (1)(2) | American Airlines, Inc., 7.250%, 02/15/2028 | 1,203,807 | 0.3 | ||||||
| 422,917 (1) | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.500%, 04/20/2026 | 422,057 | 0.1 | ||||||
| 900,000 (2) | Asbury Automotive Group, Inc., 4.500%, 03/01/2028 | 876,849 | 0.2 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Cyclical: (continued) | |||||||||
| 775,000 | Asbury Automotive Group, Inc., 4.750%, 03/01/2030 | $ | 742,405 | 0.2 | |||||
| 345,000 (1) | Bath & Body Works, Inc., 9.375%, 07/01/2025 | 355,057 | 0.1 | ||||||
| 1,075,000 (1) | Brinker International, Inc., 5.000%, 10/01/2024 | 1,075,000 | 0.3 | ||||||
| 1,475,000 (1)(2) | Caesars Entertainment, Inc., 4.625%, 10/15/2029 | 1,403,998 | 0.3 | ||||||
| 1,550,000 (1) | Caesars Entertainment, Inc., 7.000%, 02/15/2030 | 1,620,341 | 0.4 | ||||||
| 1,100,000 (1) | Carnival Corp., 4.000%, 08/01/2028 | 1,061,698 | 0.3 | ||||||
| 2,325,000 (1)(2) | Carnival Corp., 6.000%, 05/01/2029 | 2,357,141 | 0.6 | ||||||
| 2,570,500 (1)(3) | Carvana Co., 12.000% (PIK Rate 12.000%, Cash Rate 9.000%), 12/01/2028 | 2,701,847 | 0.6 | ||||||
| 1,575,000 (1) | CCM Merger, Inc., 6.375%, 05/01/2026 | 1,577,892 | 0.4 | ||||||
| 1,400,000 (1) | Cinemark USA, Inc., 7.000%, 08/01/2032 | 1,462,670 | 0.3 | ||||||
| 1,250,000 (1) | Dream Finders Homes, Inc., 8.250%, 08/15/2028 | 1,322,081 | 0.3 | ||||||
| 1,250,000 (1) | Foundation Building Materials, Inc., 6.000%, 03/01/2029 | 1,101,951 | 0.3 | ||||||
| 375,000 (1) | Gap, Inc., 3.625%, 10/01/2029 | 339,580 | 0.1 | ||||||
| 875,000 (1)(2) | Gap, Inc., 3.875%, 10/01/2031 | 765,813 | 0.2 | ||||||
| 1,200,000 (1) | Gates Corp., 6.875%, 07/01/2029 | 1,244,525 | 0.3 | ||||||
| 1,385,000 (1) | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 1,410,465 | 0.3 | ||||||
| 1,055,000 (1) | Hilton Domestic Operating Co., Inc., 5.875%, 03/15/2033 | 1,075,653 | 0.3 | ||||||
| 1,125,000 (1) | Installed Building Products, Inc., 5.750%, 02/01/2028 | 1,122,103 | 0.3 | ||||||
| 1,275,000 (1) | Interface, Inc., 5.500%, 12/01/2028 | 1,250,739 | 0.3 | ||||||
| 425,000 (1) | International Game Technology PLC, 4.125%, 04/15/2026 | 419,729 | 0.1 | ||||||
| 1,700,000 (1) | International Game Technology PLC, 5.250%, 01/15/2029 | 1,694,693 | 0.4 | ||||||
| 1,275,000 (1) | Lithia Motors, Inc., 4.375%, 01/15/2031 | 1,187,380 | 0.3 | ||||||
| 275,000 | M/I Homes, Inc., 3.950%, 02/15/2030 | 258,457 | 0.1 | ||||||
See Accompanying Notes to Financial Statements
57
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Cyclical: (continued) | |||||||||
| 800,000 | M/I Homes, Inc., 4.950%, 02/01/2028 | $ | 787,131 | 0.2 | |||||
| 550,000 (2) | Macy’s Retail Holdings LLC, 4.500%, 12/15/2034 | 461,487 | 0.1 | ||||||
| 800,000 (1) | Macy’s Retail Holdings LLC, 6.125%, 03/15/2032 | 776,283 | 0.2 | ||||||
| 850,000 (1) | Melco Resorts Finance Ltd., 5.250%, 04/26/2026 | 835,656 | 0.2 | ||||||
| 1,275,000 (1) | Melco Resorts Finance Ltd., 5.375%, 12/04/2029 | 1,199,297 | 0.3 | ||||||
| 825,000 | MGM Resorts International, 4.625%, 09/01/2026 | 820,399 | 0.2 | ||||||
| 675,000 | MGM Resorts International, 4.750%, 10/15/2028 | 661,965 | 0.2 | ||||||
| 350,000 (2) | MGM Resorts International, 6.500%, 04/15/2032 | 356,895 | 0.1 | ||||||
| 2,150,000 (1)(2) | Michaels Cos., Inc., 5.250%, 05/01/2028 | 1,589,052 | 0.4 | ||||||
| 875,000 | Murphy Oil USA, Inc., 4.750%, 09/15/2029 | 851,279 | 0.2 | ||||||
| 450,000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | 450,031 | 0.1 | ||||||
| 500,000 (1) | NCL Corp. Ltd., 5.875%, 03/15/2026 | 500,343 | 0.1 | ||||||
| 200,000 (1) | NCL Corp. Ltd., 8.375%, 02/01/2028 | 210,171 | 0.0 | ||||||
| 725,000 (1)(2) | NCL Finance Ltd., 6.125%, 03/15/2028 | 740,014 | 0.2 | ||||||
| 1,225,000 (1) | Raising Cane’s Restaurants LLC, 9.375%, 05/01/2029 | 1,327,999 | 0.3 | ||||||
| 950,000 (1) | Ritchie Bros Holdings, Inc., 7.750%, 03/15/2031 | 1,012,947 | 0.2 | ||||||
| 3,200,000 (1) | Royal Caribbean Cruises Ltd., 5.375%, 07/15/2027 | 3,230,813 | 0.8 | ||||||
| 750,000 (1) | Royal Caribbean Cruises Ltd., 5.625%, 09/30/2031 | 760,312 | 0.2 | ||||||
| 1,400,000 (2) | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 1,439,169 | 0.3 | ||||||
| 1,325,000 (1)(2) | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 1,315,845 | 0.3 | ||||||
| 1,400,000 (1) | Scientific Games International, Inc., 7.000%, 05/15/2028 | 1,413,217 | 0.3 | ||||||
| 724,875 (1) | Staples, Inc., 12.750%, 01/15/2030 | 596,244 | 0.1 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Cyclical: (continued) | |||||||||
| 1,600,000 (1) | Station Casinos LLC, 4.500%, 02/15/2028 | $ | 1,546,167 | 0.4 | |||||
| 975,000 (1) | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 870,131 | 0.2 | ||||||
| 275,000 (1) | Tempur Sealy International, Inc., 4.000%, 04/15/2029 | 256,734 | 0.1 | ||||||
| 1,470,000 | United Airlines Holdings, Inc., 4.875%, 01/15/2025 | 1,468,511 | 0.3 | ||||||
| 800,000 (1) | United Airlines, Inc., 4.375%, 04/15/2026 | 787,791 | 0.2 | ||||||
| 1,470,000 (1) | Victoria’s Secret & Co., 4.625%, 07/15/2029 | 1,299,770 | 0.3 | ||||||
| 2,675,000 (1) | Viking Cruises Ltd., 5.875%, 09/15/2027 | 2,675,003 | 0.6 | ||||||
| 375,000 (1) | Viking Cruises Ltd., 7.000%, 02/15/2029 | 380,018 | 0.1 | ||||||
| 1,275,000 (1)(2) | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 6.375%, 02/01/2030 | 1,096,525 | 0.3 | ||||||
| 820,000 | Walgreens Boots Alliance, Inc., 4.800%, 11/18/2044 | 614,290 | 0.1 | ||||||
| 1,750,000 (2) | Walgreens Boots Alliance, Inc., 8.125%, 08/15/2029 | 1,748,420 | 0.4 | ||||||
| 1,525,000 (1) | William Carter Co., 5.625%, 03/15/2027 | 1,523,253 | 0.4 | ||||||
| 1,675,000 (1) | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.250%, 05/15/2027 | 1,677,420 | 0.4 | ||||||
| 1,000,000 (1) | ZF North America Capital, Inc., 4.750%, 04/29/2025 | 992,030 | 0.2 | ||||||
| 600,000 (1) | ZF North America Capital, Inc., 6.875%, 04/14/2028 | 606,162 | 0.1 | ||||||
| 72,187,403 | 17.2 | ||||||||
| Consumer, Non-cyclical: 20.1% | |||||||||
| 1,325,000 (1)(2) | 1375209 BC Ltd., 9.000%, 01/30/2028 | 1,314,440 | 0.3 | ||||||
| 1,475,000 (1) | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 | 1,441,177 | 0.3 | ||||||
| 1,225,000 (1) | AdaptHealth LLC, 4.625%, 08/01/2029 | 1,135,601 | 0.3 | ||||||
| 1,350,000 (1)(2) | ADT Security Corp., 4.125%, 08/01/2029 | 1,290,677 | 0.3 | ||||||
| 950,000 (1) | AHP Health Partners, Inc., 5.750%, 07/15/2029 | 935,407 | 0.2 | ||||||
See Accompanying Notes to Financial Statements
58
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Non-cyclical: (continued) | |||||||||
| 600,000 (1) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 | $ | 561,148 | 0.1 | |||||
| 1,200,000 (1) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.875%, 02/15/2028 | 1,208,922 | 0.3 | ||||||
| 1,700,000 (1)(2) | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 1,596,726 | 0.4 | ||||||
| 1,100,000 (1) | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 1,035,170 | 0.2 | ||||||
| 1,200,000 (1)(2) | Alta Equipment Group, Inc., 9.000%, 06/01/2029 | 1,075,720 | 0.3 | ||||||
| 600,000 (1) | APi Group DE, Inc., 4.125%, 07/15/2029 | 564,701 | 0.1 | ||||||
| 650,000 (1) | APi Group DE, Inc., 4.750%, 10/15/2029 | 626,822 | 0.2 | ||||||
| 2,050,000 (1)(2) | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | 2,098,450 | 0.5 | ||||||
| 1,425,000 (1) | Bausch Health Cos., Inc., 4.875%, 06/01/2028 | 1,116,480 | 0.3 | ||||||
| 1,125,000 (1) | Bausch Health Cos., Inc., 6.125%, 02/01/2027 | 1,017,096 | 0.2 | ||||||
| 1,414,150 | Bausch Lomb, 8.563%, 05/10/2027 | 1,410,418 | 0.3 | ||||||
| 1,350,000 (1) | BellRing Brands, Inc., 7.000%, 03/15/2030 | 1,414,210 | 0.3 | ||||||
| 590,000 (1)(2) | Brink’s Co., 6.500%, 06/15/2029 | 611,740 | 0.1 | ||||||
| 590,000 (1) | Brink’s Co., 6.750%, 06/15/2032 | 616,140 | 0.1 | ||||||
| 1,900,000 (1) | Cheplapharm Arzneimittel GmbH, 5.500%, 01/15/2028 | 1,844,513 | 0.4 | ||||||
| 1,300,000 (1) | Chobani LLC / Chobani Finance Corp., Inc., 7.625%, 07/01/2029 | 1,366,782 | 0.3 | ||||||
| 2,675,000 (1) | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 2,464,010 | 0.6 | ||||||
| 2,100,000 (1) | CHS/Community Health Systems, Inc., 5.625%, 03/15/2027 | 2,068,108 | 0.5 | ||||||
| 1,590,000 (1) | Cimpress PLC, 7.375%, 09/15/2032 | 1,604,867 | 0.4 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Non-cyclical: (continued) | |||||||||
| 1,250,000 (1) | CPI CG, Inc., 10.000%, 07/15/2029 | $ | 1,316,787 | 0.3 | |||||
| 450,000 (1) | DaVita, Inc., 3.750%, 02/15/2031 | 406,276 | 0.1 | ||||||
| 1,900,000 (1) | DaVita, Inc., 4.625%, 06/01/2030 | 1,812,667 | 0.4 | ||||||
| 1,375,000 (1)(2) | Embecta Corp., 5.000%, 02/15/2030 | 1,267,176 | 0.3 | ||||||
| 1,600,000 | Encompass Health Corp., 4.750%, 02/01/2030 | 1,565,115 | 0.4 | ||||||
| 1,300,000 (1)(2) | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 1,380,445 | 0.3 | ||||||
| 375,000 (1) | Fiesta Purchaser, Inc., 9.625%, 09/15/2032 | 389,114 | 0.1 | ||||||
| 450,000 (1) | Garda World Security Corp., 4.625%, 02/15/2027 | 442,232 | 0.1 | ||||||
| 1,325,000 (1) | Garda World Security Corp., 6.000%, 06/01/2029 | 1,272,819 | 0.3 | ||||||
| 1,400,000 (1) | Graham Holdings Co., 5.750%, 06/01/2026 | 1,400,802 | 0.3 | ||||||
| 1,350,000 (1)(2) | Jazz Securities DAC, 4.375%, 01/15/2029 | 1,306,692 | 0.3 | ||||||
| 1,500,000 (1) | LifePoint Health, Inc., 10.000%, 06/01/2032 | 1,650,925 | 0.4 | ||||||
| 1,175,000 (1) | Medline Borrower L.P., 3.875%, 04/01/2029 | 1,113,447 | 0.3 | ||||||
| 1,050,000 (1) | Medline Borrower L.P., 5.250%, 10/01/2029 | 1,031,019 | 0.2 | ||||||
| 445,000 (1) | Medline Borrower L.P./ Medline Co-Issuer, Inc., 6.250%, 04/01/2029 | 459,054 | 0.1 | ||||||
| 1,300,000 (1) | NESCO Holdings II, Inc., 5.500%, 04/15/2029 | 1,199,663 | 0.3 | ||||||
| 775,000 | New Albertsons L.P., 7.450%, 08/01/2029 | 813,266 | 0.2 | ||||||
| 2,100,000 (1)(2) | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 1,979,841 | 0.5 | ||||||
| 600,000 (1)(2) | Organon & Co / Organon Foreign Debt Co-Issuer BV, 7.875%, 05/15/2034 | 636,420 | 0.2 | ||||||
| 1,650,000 (1) | Performance Food Group, Inc., 6.125%, 09/15/2032 | 1,688,124 | 0.4 | ||||||
| 1,100,000 | Perrigo Finance Unlimited Co., 4.375%, 03/15/2026 | 1,099,457 | 0.3 | ||||||
| 1,700,000 | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 1,714,271 | 0.4 | ||||||
| 1,175,000 (1) | Post Holdings, Inc., 4.625%, 04/15/2030 | 1,125,327 | 0.3 | ||||||
| 667,000 (1) | Post Holdings, Inc., 5.625%, 01/15/2028 | 673,287 | 0.2 | ||||||
See Accompanying Notes to Financial Statements
59
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Non-cyclical: (continued) | |||||||||
| 905,000 (1) | Post Holdings, Inc., 6.250%, 10/15/2034 | $ | 912,967 | 0.2 | |||||
| 330,000 (1) | Post Holdings, Inc., 6.375%, 03/01/2033 | 336,210 | 0.1 | ||||||
| 1,950,000 (1)(2) | Prime Security Services Borrower LLC / Prime Finance, Inc., 6.250%, 01/15/2028 | 1,951,997 | 0.5 | ||||||
| 1,310,000 (1)(2) | Primo Water Holdings, Inc., 4.375%, 04/30/2029 | 1,257,360 | 0.3 | ||||||
| 1,350,000 (1) | Select Medical Corp., 6.250%, 08/15/2026 | 1,359,305 | 0.3 | ||||||
| 1,055,000 | Service Corp. International, 5.750%, 10/15/2032 | 1,063,227 | 0.3 | ||||||
| 1,175,000 (1)(2) | Simmons Foods, Inc./ Simmons Prepared Foods,, Inc. ./ Simmons Pet Food,, Inc../Simmons Feed, 4.625%, 03/01/2029 | 1,115,938 | 0.3 | ||||||
| 1,045,000 (1) | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 1,086,548 | 0.3 | ||||||
| 1,175,000 (1) | Star Parent, Inc., 9.000%, 10/01/2030 | 1,262,924 | 0.3 | ||||||
| 1,075,000 (1) | Teleflex, Inc., 4.250%, 06/01/2028 | 1,042,115 | 0.2 | ||||||
| 1,400,000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 | 1,395,835 | 0.3 | ||||||
| 1,850,000 (2) | Tenet Healthcare Corp., 6.125%, 10/01/2028 | 1,866,243 | 0.4 | ||||||
| 1,825,000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 1,857,105 | 0.4 | ||||||
| 1,350,000 (1) | Triton Water Holdings, Inc., 6.250%, 04/01/2029 | 1,349,859 | 0.3 | ||||||
| 1,125,000 (1) | United Natural Foods, Inc., 6.750%, 10/15/2028 | 1,074,073 | 0.3 | ||||||
| 1,175,000 (2) | United Rentals North America, Inc., 4.875%, 01/15/2028 | 1,167,211 | 0.3 | ||||||
| 275,000 | United Rentals North America, Inc., 5.500%, 05/15/2027 | 275,681 | 0.1 | ||||||
| 1,415,000 (1) | US Foods, Inc., 5.750%, 04/15/2033 | 1,420,056 | 0.3 | ||||||
| 1,525,000 (1) | Varex Imaging Corp., 7.875%, 10/15/2027 | 1,558,227 | 0.4 | ||||||
| 1,400,000 (1) | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 1,475,863 | 0.4 | ||||||
| 550,000 (1) | Williams Scotsman International, Inc., 4.625%, 08/15/2028 | 535,076 | 0.1 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Non-cyclical: (continued) | |||||||||
| 1,250,000 (1) | Williams Scotsman International, Inc., 6.125%, 06/15/2025 | $ | 1,249,831 | 0.3 | |||||
| 84,777,202 | 20.1 | ||||||||
| Energy: 10.9% | |||||||||
| 875,000 (1) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.375%, 06/15/2029 | 866,549 | 0.2 | ||||||
| 1,250,000 (1) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.750%, 03/01/2027 | 1,252,096 | 0.3 | ||||||
| 1,025,000 (1) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | 1,030,903 | 0.2 | ||||||
| 665,000 (1) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.625%, 09/01/2032 | 682,420 | 0.2 | ||||||
| 216,000 (1) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.875%, 04/01/2027 | 216,852 | 0.0 | ||||||
| 1,500,000 (1) | Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 06/30/2029 | 1,483,092 | 0.3 | ||||||
| 375,000 (1) | Baytex Energy Corp., 7.375%, 03/15/2032 | 373,991 | 0.1 | ||||||
| 1,425,000 (1) | Baytex Energy Corp., 8.500%, 04/30/2030 | 1,478,140 | 0.3 | ||||||
| 1,700,000 (1) | Chord Energy Corp., 6.375%, 06/01/2026 | 1,705,127 | 0.4 | ||||||
| 1,400,000 (1) | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 1,401,604 | 0.3 | ||||||
| 875,000 (1) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 876,692 | 0.2 | ||||||
| 1,025,000 (1) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 1,079,259 | 0.3 | ||||||
| 450,000 (1) | DT Midstream, Inc., 4.125%, 06/15/2029 | 430,777 | 0.1 | ||||||
| 800,000 (1) | DT Midstream, Inc., 4.375%, 06/15/2031 | 757,875 | 0.2 | ||||||
| 1,725,000 (1) | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 | 1,777,499 | 0.4 | ||||||
| 1,550,000 (1) | Encino Acquisition Partners Holdings LLC, 8.500%, 05/01/2028 | 1,578,917 | 0.4 | ||||||
See Accompanying Notes to Financial Statements
60
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Energy: (continued) | |||||||||
| 345,000 (1) | Encino Acquisition Partners Holdings LLC, 8.750%, 05/01/2031 | $ | 363,125 | 0.1 | |||||
| 1,450,000 (1) | Enerflex Ltd., 9.000%, 10/15/2027 | 1,500,904 | 0.4 | ||||||
| 700,000 (1) | EQM Midstream Partners L.P., 6.000%, 07/01/2025 | 701,561 | 0.2 | ||||||
| 1,150,000 (1) | Global Partners L.P. / GLP Finance Corp., 8.250%, 01/15/2032 | 1,193,802 | 0.3 | ||||||
| 725,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 5.750%, 02/01/2029 | 705,902 | 0.2 | ||||||
| 800,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 780,488 | 0.2 | ||||||
| 800,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | 779,573 | 0.2 | ||||||
| 1,375,000 (1)(2) | Kinetik Holdings L.P., 5.875%, 06/15/2030 | 1,385,479 | 0.3 | ||||||
| 1,350,000 (1) | Kodiak Gas Services LLC, 7.250%, 02/15/2029 | 1,398,172 | 0.3 | ||||||
| 325,000 (1) | Matador Resources Co., 6.500%, 04/15/2032 | 324,758 | 0.1 | ||||||
| 1,600,000 (1) | Matador Resources Co., 6.875%, 04/15/2028 | 1,628,667 | 0.4 | ||||||
| 1,365,000 (1) | Moss Creek Resources Holdings, Inc., 8.250%, 09/01/2031 | 1,348,755 | 0.3 | ||||||
| 1,425,000 | Murphy Oil Corp., 6.375%, 07/15/2028 | 1,448,867 | 0.3 | ||||||
| 435,000 (1) | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 449,325 | 0.1 | ||||||
| 950,000 (1) | Permian Resources Operating LLC, 5.875%, 07/01/2029 | 949,926 | 0.2 | ||||||
| 625,000 (1) | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 635,544 | 0.1 | ||||||
| 695,000 (1) | SM Energy Co., 6.750%, 08/01/2029 | 698,422 | 0.2 | ||||||
| 1,775,000 | Southwestern Energy Co., 5.375%, 02/01/2029 | 1,770,490 | 0.4 | ||||||
| 300,000 | Southwestern Energy Co., 5.700%, 01/23/2025 | 299,981 | 0.1 | ||||||
| 400,000 (1) | Sunoco L.P., 7.000%, 05/01/2029 | 418,247 | 0.1 | ||||||
| 550,000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 05/15/2029 | 529,204 | 0.1 | ||||||
| 1,175,000 (2) | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 04/30/2030 | 1,126,653 | 0.3 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Energy: (continued) | |||||||||
| 650,000 (1) | Talos Production, Inc., 9.000%, 02/01/2029 | $ | 669,891 | 0.2 | |||||
| 850,000 (1) | Talos Production, Inc., 9.375%, 02/01/2031 | 874,630 | 0.2 | ||||||
| 780,000 (1) | Transocean Poseidon Ltd., 6.875%, 02/01/2027 | 780,853 | 0.2 | ||||||
| 200,000 (1) | Transocean Titan Financing Ltd., 8.375%, 02/01/2028 | 206,179 | 0.0 | ||||||
| 1,350,000 (1) | Venture Global Calcasieu Pass LLC, 4.125%, 08/15/2031 | 1,256,201 | 0.3 | ||||||
| 1,550,000 (1) | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 1,584,661 | 0.4 | ||||||
| 1,575,000 (1) | Venture Global LNG, Inc., 8.125%, 06/01/2028 | 1,643,024 | 0.4 | ||||||
| 1,450,000 (1) | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 1,532,079 | 0.4 | ||||||
| 45,977,156 | 10.9 | ||||||||
| Financial: 9.7% | |||||||||
| 620,000 (1) | Acrisure LLC / Acrisure Finance, Inc., 6.000%, 08/01/2029 | 598,530 | 0.1 | ||||||
| 1,310,000 (1) | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 1,349,261 | 0.3 | ||||||
| 685,000 (1) | Acrisure LLC / Acrisure Finance, Inc., 8.500%, 06/15/2029 | 715,888 | 0.2 | ||||||
| 1,690,000 (1) | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | 1,709,835 | 0.4 | ||||||
| 1,375,000 (1) | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 7.375%, 10/01/2032 | 1,395,766 | 0.3 | ||||||
| 900,000 (2) | Ally Financial, Inc., 5.750%, 11/20/2025 | 904,186 | 0.2 | ||||||
| 600,000 (2) | Ally Financial, Inc., 6.700%, 02/14/2033 | 614,002 | 0.2 | ||||||
| 1,375,000 (1) | Aretec Escrow Issuer, Inc., 7.500%, 04/01/2029 | 1,307,084 | 0.3 | ||||||
| 1,625,000 (1) | AssuredPartners, Inc., 5.625%, 01/15/2029 | 1,565,809 | 0.4 | ||||||
| 1,450,000 (1) | BroadStreet Partners, Inc., 5.875%, 04/15/2029 | 1,384,723 | 0.3 | ||||||
| 1,200,000 (1) | Burford Capital Global Finance LLC, 6.875%, 04/15/2030 | 1,200,552 | 0.3 | ||||||
See Accompanying Notes to Financial Statements
61
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Financial: (continued) | |||||||||
| 1,165,000 (1) | CI Financial Corp., 7.500%, 05/30/2029 | $ | 1,215,474 | 0.3 | |||||
| 1,475,000 (1) | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 1,490,039 | 0.4 | ||||||
| 1,300,000 (1) | Freedom Mortgage Corp., 6.625%, 01/15/2027 | 1,304,043 | 0.3 | ||||||
| 675,000 (1) | Freedom Mortgage Corp., 12.250%, 10/01/2030 | 756,581 | 0.2 | ||||||
| 325,000 (1) | Freedom Mortgage Holdings LLC, 9.125%, 05/15/2031 | 334,541 | 0.1 | ||||||
| 350,000 (1) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/2027 | 342,306 | 0.1 | ||||||
| 1,175,000 (1) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 1,148,542 | 0.3 | ||||||
| 450,000 (1) | Midcap Financial Issuer Trust, 5.625%, 01/15/2030 | 415,705 | 0.1 | ||||||
| 1,100,000 (1) | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 1,066,637 | 0.3 | ||||||
| 1,175,000 (2) | MPT Operating Partnership L.P. / MPT Finance Corp., 4.625%, 08/01/2029 | 946,295 | 0.2 | ||||||
| 1,450,000 (2) | MPT Operating Partnership L.P. / MPT Finance Corp., 5.000%, 10/15/2027 | 1,302,082 | 0.3 | ||||||
| 1,025,000 (1) | Nationstar Mortgage Holdings, Inc., 5.000%, 02/01/2026 | 1,020,877 | 0.2 | ||||||
| 1,490,000 (1) | Nationstar Mortgage Holdings, Inc., 5.125%, 12/15/2030 | 1,430,564 | 0.3 | ||||||
| 675,000 | Navient Corp., 5.000%, 03/15/2027 | 669,565 | 0.2 | ||||||
| 550,000 | Navient Corp., 6.750%, 06/25/2025 | 553,804 | 0.1 | ||||||
| 575,000 (2) | OneMain Finance Corp., 4.000%, 09/15/2030 | 512,603 | 0.1 | ||||||
| 1,400,000 (2) | OneMain Finance Corp., 5.375%, 11/15/2029 | 1,346,537 | 0.3 | ||||||
| 575,000 | OneMain Finance Corp., 7.125%, 03/15/2026 | 587,463 | 0.1 | ||||||
| 1,435,000 (1) | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 1,506,311 | 0.4 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Financial: (continued) | |||||||||
| 1,475,000 (1) | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | $ | 1,534,544 | 0.4 | |||||
| 1,050,000 (1) | PRA Group, Inc., 5.000%, 10/01/2029 | 966,875 | 0.2 | ||||||
| 325,000 (1) | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 04/01/2032 | 336,111 | 0.1 | ||||||
| 1,525,000 (1) | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 1,597,078 | 0.4 | ||||||
| 625,000 (1) | RLJ Lodging Trust L.P., 3.750%, 07/01/2026 | 611,692 | 0.1 | ||||||
| 1,750,000 (1) | Ryan Specialty LLC, 5.875%, 08/01/2032 | 1,780,364 | 0.4 | ||||||
| 225,000 (1) | United Wholesale Mortgage LLC, 5.500%, 11/15/2025 | 224,766 | 0.1 | ||||||
| 1,800,000 (1) | United Wholesale Mortgage LLC, 5.750%, 06/15/2027 | 1,789,797 | 0.4 | ||||||
| 1,260,000 (1) | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 1,322,515 | 0.3 | ||||||
| 40,859,347 | 9.7 | ||||||||
| Industrial: 12.1% | |||||||||
| 1,125,000 (1) | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 1,170,997 | 0.3 | ||||||
| 1,580,000 (1) | Arcosa, Inc., 6.875%, 08/15/2032 | 1,654,898 | 0.4 | ||||||
| 1,300,000 (1) | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 4.000%, 09/01/2029 | 1,161,593 | 0.3 | ||||||
| 775,000 (1)(2) | Bombardier, Inc., 7.500%, 02/01/2029 | 820,695 | 0.2 | ||||||
| 703,000 (1) | Bombardier, Inc., 7.875%, 04/15/2027 | 705,413 | 0.2 | ||||||
| 350,000 (1)(2) | Bombardier, Inc., 8.750%, 11/15/2030 | 384,764 | 0.1 | ||||||
| 1,520,000 (1) | Brundage-Bone Concrete Pumping Holdings, Inc., 6.000%, 02/01/2026 | 1,515,300 | 0.4 | ||||||
| 295,000 (1) | Cascades, Inc. / Cascades USA, Inc., 5.125%, 01/15/2026 | 293,177 | 0.1 | ||||||
| 1,250,000 (1) | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 1,223,260 | 0.3 | ||||||
| 1,275,000 (1) | Chart Industries, Inc., 7.500%, 01/01/2030 | 1,345,349 | 0.3 | ||||||
See Accompanying Notes to Financial Statements
62
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Industrial: (continued) | |||||||||
| 1,275,000 (1) | Clean Harbors, Inc., 6.375%, 02/01/2031 | $ | 1,307,331 | 0.3 | |||||
| 1,575,000 (1) | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 1,625,943 | 0.4 | ||||||
| 1,800,000 (1)(2) | Energizer Holdings, Inc., 4.750%, 06/15/2028 | 1,748,357 | 0.4 | ||||||
| 1,500,000 (1) | Fortress Transportation and Infrastructure Investors LLC, 5.500%, 05/01/2028 | 1,495,089 | 0.4 | ||||||
| 1,455,000 (1) | Fortress Transportation and Infrastructure Investors LLC, 5.875%, 04/15/2033 | 1,447,725 | 0.3 | ||||||
| 1,300,000 (1) | GFL Environmental, Inc., 4.000%, 08/01/2028 | 1,249,648 | 0.3 | ||||||
| 775,000 (1) | GFL Environmental, Inc., 4.375%, 08/15/2029 | 743,521 | 0.2 | ||||||
| 575,000 (1) | Global Infrastructure Solutions, Inc., 5.625%, 06/01/2029 | 564,711 | 0.1 | ||||||
| 575,000 (1) | Global Infrastructure Solutions, Inc., 7.500%, 04/15/2032 | 593,228 | 0.1 | ||||||
| 1,800,000 (1) | Graham Packaging Co., Inc., 7.125%, 08/15/2028 | 1,784,079 | 0.4 | ||||||
| 1,700,000 (1) | Imola Merger Corp., 4.750%, 05/15/2029 | 1,660,315 | 0.4 | ||||||
| 775,000 (1)(3) | Intelligent Packaging Holdco Issuer L.P., 9.000% (PIK Rate 9.000%, Cash Rate 9.750%), 01/15/2026 | 775,484 | 0.2 | ||||||
| 1,175,000 (1) | Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, 6.000%, 09/15/2028 | 1,167,975 | 0.3 | ||||||
| 1,450,000 (1) | Madison IAQ LLC, 5.875%, 06/30/2029 | 1,413,036 | 0.3 | ||||||
| 1,425,000 (1) | New Enterprise Stone & Lime Co., Inc., 9.750%, 07/15/2028 | 1,457,010 | 0.3 | ||||||
| 1,470,000 (1) | Oscar AcquisitionCo LLC / Oscar Finance, Inc., 9.500%, 04/15/2030 | 1,434,337 | 0.3 | ||||||
| 2,000,000 (1)(2) | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 2,057,164 | 0.5 | ||||||
| 1,450,000 (1) | Sealed Air Corp., 4.000%, 12/01/2027 | 1,402,418 | 0.3 | ||||||
| 625,000 (1) | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | 636,017 | 0.1 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Industrial: (continued) | |||||||||
| 1,475,000 (1) | Sensata Technologies, Inc., 3.750%, 02/15/2031 | $ | 1,352,038 | 0.3 | |||||
| 1,575,000 (1) | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 1,700,494 | 0.4 | ||||||
| 1,175,000 (1) | Standard Industries, Inc., 3.375%, 01/15/2031 | 1,047,788 | 0.2 | ||||||
| 700,000 (1) | Standard Industries, Inc., 4.375%, 07/15/2030 | 663,063 | 0.2 | ||||||
| 1,100,000 (1) | Summit Materials LLC / Summit Materials Finance Corp., 5.250%, 01/15/2029 | 1,088,940 | 0.3 | ||||||
| 1,070,000 (1) | Summit Materials LLC / Summit Materials Finance Corp., 6.500%, 03/15/2027 | 1,074,683 | 0.3 | ||||||
| 1,335,000 (1) | Terex Corp., 6.250%, 10/15/2032 | 1,335,000 | 0.3 | ||||||
| 1,275,000 (2) | TransDigm, Inc., 4.625%, 01/15/2029 | 1,232,346 | 0.3 | ||||||
| 1,225,000 | TransDigm, Inc., 5.500%, 11/15/2027 | 1,221,715 | 0.3 | ||||||
| 1,670,000 (1) | TransDigm, Inc., 6.000%, 01/15/2033 | 1,694,908 | 0.4 | ||||||
| 965,000 (1) | TransDigm, Inc., 6.625%, 03/01/2032 | 1,006,101 | 0.2 | ||||||
| 1,125,000 (1) | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/2028 | 1,096,393 | 0.3 | ||||||
| 1,720,000 (1) | Wilsonart LLC, 11.000%, 08/15/2032 | 1,722,169 | 0.4 | ||||||
| 51,074,472 | 12.1 | ||||||||
| Technology: 3.1% | |||||||||
| 1,350,000 (1) | Amentum Escrow Corp., 7.250%, 08/01/2032 | 1,410,140 | 0.3 | ||||||
| 2,900,000 (1) | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 2,887,853 | 0.7 | ||||||
| 875,000 (1) | Entegris Escrow Corp., 5.950%, 06/15/2030 | 892,024 | 0.2 | ||||||
| 575,000 (1) | Entegris, Inc., 3.625%, 05/01/2029 | 537,903 | 0.1 | ||||||
| 1,200,000 (1)(2) | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 1,267,532 | 0.3 | ||||||
| 1,375,000 (1) | NCR Atleos Escrow Corp., 9.500%, 04/01/2029 | 1,514,795 | 0.4 | ||||||
| 675,000 (1) | Open Text Corp., 3.875%, 12/01/2029 | 628,118 | 0.1 | ||||||
| 1,275,000 (1) | Open Text Holdings, Inc., 4.125%, 02/15/2030 | 1,198,085 | 0.3 | ||||||
| 1,350,000 (1) | Playtika Holding Corp., 4.250%, 03/15/2029 | 1,240,105 | 0.3 | ||||||
See Accompanying Notes to Financial Statements
63
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Technology: (continued) | |||||||||
| 1,450,000 (1) | UKG, Inc., 6.875%, 02/01/2031 | $ | 1,499,338 | 0.4 | |||||
| 13,075,893 | 3.1 | ||||||||
| Utilities: 2.5% | |||||||||
| 1,450,000 (1) | Alpha Generation LLC, 6.750%, 10/15/2032 | 1,471,348 | 0.3 | ||||||
| 900,000 (1) | Calpine Corp., 4.500%, 02/15/2028 | 879,367 | 0.2 | ||||||
| 675,000 (1) | Calpine Corp., 5.000%, 02/01/2031 | 654,138 | 0.2 | ||||||
| 1,150,000 (1) | Calpine Corp., 5.125%, 03/15/2028 | 1,134,846 | 0.3 | ||||||
| 250,000 (1) | Calpine Corp., 5.250%, 06/01/2026 | 249,212 | 0.1 | ||||||
| 1,400,000 (1) | Lightning Power LLC, 7.250%, 08/15/2032 | 1,473,356 | 0.3 | ||||||
| 1,175,000 | TransAlta Corp., 7.750%, 11/15/2029 | 1,242,144 | 0.3 | ||||||
| 725,000 (1) | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | 702,287 | 0.2 | ||||||
| 1,325,000 (1) | Vistra Operations Co. LLC, 5.500%, 09/01/2026 | 1,325,608 | 0.3 | ||||||
| 625,000 (1) | Vistra Operations Co. LLC, 5.625%, 02/15/2027 | 624,504 | 0.1 | ||||||
| 800,000 (1) | Vistra Operations Co. LLC, 7.750%, 10/15/2031 | 861,894 | 0.2 | ||||||
| 10,618,704 | 2.5 | ||||||||
| Total Corporate Bonds/Notes (Cost $385,767,700) | 396,551,391 | 94.2 | |||||||
| BANK LOANS: 3.8% | |||||||||
| Communications: 0.3% | |||||||||
| 1,250,000 (4) | Gray Television Inc, 10/27/2028 | 1,156,836 | 0.3 | ||||||
| Consumer, Cyclical: 0.6% | |||||||||
| 1,416,094 | American Greetings Corporation, Tranche B, 10.595%, (TSFR1M+5.75%), 10/30/2029 | 1,429,664 | 0.3 | ||||||
| 1,250,000 | Petco Health and Wellness Company Inc, Tranche B, 8.115%, 03/06/2028 | 1,190,799 | 0.3 | ||||||
| 2,620,463 | 0.6 | ||||||||
| Consumer, Non-cyclical: 0.4% | |||||||||
| 1,415,506 | Kuehg Corp., Term Loan B, 9.104%, (TSFR3M+4.500%), 06/12/2030 | 1,421,502 | 0.4 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Energy: 0.6% | ||||||||||
| 1,425,000 (4) | Epic Ygrade, 06/29/2029 | $ | 1,422,217 | 0.3 | ||||||
| 1,246,875 (4) | Goodnight Water Solutions Holdings, LLC, 05/22/2029 | 1,248,045 | 0.3 | |||||||
| 2,670,262 | 0.6 | |||||||||
| Financial: 1.1% | ||||||||||
| 1,022,438 | Advisor Group, Inc., 2023 Term Loan B, 8.840%, (TSFR1M+3.500%), 08/16/2028 | 1,013,065 | 0.2 | |||||||
| 3,032,145 | HUB International Ltd, Facility 2024-1 Incremental Term Loans, 8.255%, (TSFR2M+3.000%), 06/20/2030 | 3,031,199 | 0.7 | |||||||
| 712,500 | Truist Financial, 2nd Lien Term Loan, 10.060%, (TSFR1M+3.500%), 03/08/2032 | 725,637 | 0.2 | |||||||
| 4,769,901 | 1.1 | |||||||||
| Industrial: 0.3% | ||||||||||
| 1,197,000 | Northstar Group Services, Inc., 10.014%, (TSFR6M+4.750%), 05/08/2030 | 1,203,920 | 0.3 | |||||||
| Technology: 0.5% | ||||||||||
| 497,500 | Cotiviti Hld, Tranche B, 8.574%, (TSFR1M+3.250%), 04/30/2031 | 497,292 | 0.1 | |||||||
| 1,425,000 | Covia Holdings Corporation, 8.450%, (TSFRM1M+3.250%), 04/30/2031 | 1,434,351 | 0.4 | |||||||
| 1,931,643 | 0.5 | |||||||||
| Total Bank Loans (Cost $15,583,933) | 15,774,527 | 3.8 | ||||||||
| Total Long-Term Investments (Cost $401,351,633) | 412,325,918 | 98.0 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| SHORT-TERM INVESTMENTS: 15.7% | |||||||||
| Commercial Paper: 1.2% | |||||||||
| 2,500,000 | Agilent Technologies, 5.050%, 10/15/2024 | 2,494,839 | 0.5 | ||||||
See Accompanying Notes to Financial Statements
64
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| SHORT-TERM INVESTMENTS: (continued) | |||||||||
| Commercial Paper (continued) | |||||||||
| 3,000,000 | Mondelez International, 5.000%, 10/02/2024 | $ | 2,999,181 | 0.7 | |||||
| Total Commercial Paper (Cost $5,494,573) | 5,494,020 | 1.2 | |||||||
| Repurchase Agreements: 12.1% | |||||||||
| 2,158,997 (5) | ASL Capital Markets, Inc., Repurchase Agreement dated 09/30/2024, 5.350%, due 10/01/2024 (Repurchase Amount $2,159,313, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.470%-7.000%, Market Value plus accrued interest $2,202,177, due 06/01/28-07/15/59) | 2,158,997 | 0.5 | ||||||
| 14,083,384 (5) | Bethesda Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $14,085,313, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-7.026%, Market Value plus accrued interest $14,365,052, due 10/01/27-01/01/57) | 14,083,384 | 3.3 | ||||||
| 14,083,384 (5) | Cantor Fitzgerald Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $14,085,313, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.500%-7.408%, Market Value plus accrued interest $14,365,052, due 05/01/26-08/20/74) | 14,083,384 | 3.4 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| SHORT-TERM INVESTMENTS: (continued) | |||||||||
| Repurchase Agreements (continued) | |||||||||
| 5,047,504 (5) | CF Secured LLC, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $5,048,195, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.070%, Market Value plus accrued interest $5,148,454, due 05/15/27-07/20/73) | $ | 5,047,504 | 1.2 | |||||
| 1,521,618 (5) | Clear Street LLC, Repurchase Agreement dated 09/30/2024, 5.020%, due 10/01/2024 (Repurchase Amount $1,521,827, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $1,551,906, due 07/31/25-08/01/54) | 1,521,618 | 0.4 | ||||||
| 13,866,622 (5) | Marex Capital Markets Inc., Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $13,868,522, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.750%-5.500%, Market Value plus accrued interest $14,143,954, due 07/15/28-09/01/54) | 13,866,622 | 3.3 | ||||||
| Total Repurchase Agreements (Cost $50,761,509) | 50,761,509 | 12.1 | |||||||
| Time Deposits: 2.1% | |||||||||
| 1,460,000 (5) | Canadian Imperial Bank of Commerce, SHO, 4.810%, SHO, 10/01/2024 | 1,460,000 | 0.4 | ||||||
| 1,460,000 (5) | Landesbank Hessen Thueringen Girozentrale, 4.820%, 10/01/2024 | 1,460,000 | 0.3 | ||||||
| 1,460,000 (5) | Mizuho Bank Ltd., 4.820%, 10/01/2024 | 1,460,000 | 0.4 | ||||||
See Accompanying Notes to Financial Statements
65
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| SHORT-TERM INVESTMENTS: (continued) | |||||||||
| Time Deposits (continued) | |||||||||
| 1,460,000 (5) | Royal Bank of Canada, 4.830%, 10/01/2024 | $ | 1,460,000 | 0.3 | |||||
| 1,470,000 (5) | Skandinaviska Enskilda Banken AB, 4.810%, 10/01/2024 | 1,470,000 | 0.4 | ||||||
| 1,450,000 (5) | Svenska Handelsbanken AB, 4.810%, 10/01/2024 | 1,450,000 | 0.3 | ||||||
| Total Time Deposits (Cost $8,760,000) | 8,760,000 | 2.1 | |||||||
| Shares | Value | Percentage of Net Assets | |||||||
| Mutual Funds: 0.3% | |||||||||
| 1,195,000 (6) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $1,195,000) | $ | 1,195,000 | 0.3 | |||||
| Total Short-Term Investments (Cost $66,211,082) | 66,210,529 | 15.7 | |||||||
| Total Investments in Securities (Cost $467,562,715) | $ | 478,536,447 | 113.7 | ||||||
| Liabilities in Excess of Other Assets | (57,740,881 | ) | (13.7 | ) | |||||
| Net Assets | $ | 420,795,566 | 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) | Security, or a portion of the security, is on loan. |
| (3) | All or a portion of this security is payment-in-kind (“PIK”) which may pay interest or additional principal at the issuer’s discretion. Rates shown are the current rate and possible payment rates. |
| (4) | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| (5) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (6) | Rate shown is the 7-day yield as of September 30, 2024. |
Reference Rate Abbreviations:
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |
See Accompanying Notes to Financial Statements
66
| Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||
| Asset Table | ||||||||||||
| Investments, at fair value | ||||||||||||
| Corporate Bonds/Notes | $ | — | $ | 396,551,391 | $ | — | $ | 396,551,391 | ||||
| Bank Loans | — | 15,774,527 | — | 15,774,527 | ||||||||
| Short-Term Investments | 1,195,000 | 65,015,529 | — | 66,210,529 | ||||||||
| Total Investments, at fair value | $ | 1,195,000 | $ | 477,341,447 | $ | — | $ | 478,536,447 | ||||
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
At September 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 $470,195,049. | ||||
| Net unrealized appreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 13,447,227 | ||
| Gross Unrealized Depreciation | (3,857,912 | ) | ||
| Net Unrealized Appreciation | $ | 9,589,315 | ||
See Accompanying Notes to Financial Statements
67
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: 29.2% | ||||||||||
| Basic Materials: 0.7% | ||||||||||
| 5,509,000 (1) | Anglo American Capital PLC, 2.250%, 03/17/2028 | $ | 5,092,575 | 0.1 | ||||||
| 671,000 (1) | Anglo American Capital PLC, 4.875%, 05/14/2025 | 671,232 | 0.0 | |||||||
| 1,748,000 (1) | Anglo American Capital PLC, 5.500%, 05/02/2033 | 1,796,760 | 0.0 | |||||||
| 1,388,000 (1) | Anglo American Capital PLC, 5.750%, 04/05/2034 | 1,451,265 | 0.0 | |||||||
| 4,750,000 | AngloGold Ashanti Holdings PLC, 3.750%, 10/01/2030 | 4,420,493 | 0.1 | |||||||
| 4,025,000 (1) | Antofagasta PLC, 6.250%, 05/02/2034 | 4,305,502 | 0.1 | |||||||
| 2,904,000 | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2030 | 3,064,044 | 0.0 | |||||||
| 3,735,000 (1) | Cleveland-Cliffs, Inc., 6.750%, 04/15/2030 | 3,802,602 | 0.0 | |||||||
| 5,085,000 (1)(2) | Cleveland-Cliffs, Inc., 7.000%, 03/15/2032 | 5,147,244 | 0.1 | |||||||
| 5,200,000 (1) | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 5,481,125 | 0.1 | |||||||
| 3,250,000 (1) | Corp Nacional del Cobre de Chile, 6.440%, 01/26/2036 | 3,541,484 | 0.0 | |||||||
| 1,311,000 | FMC Corp., 5.150%, 05/18/2026 | 1,323,676 | 0.0 | |||||||
| 256,000 (1) | Glencore Funding LLC, 5.893%, 04/04/2054 | 269,595 | 0.0 | |||||||
| 1,500,000 (1) | Inversiones CMPC SA, 6.125%, 02/26/2034 | 1,593,750 | 0.0 | |||||||
| 4,325,000 (1) | Novelis Corp., 4.750%, 01/30/2030 | 4,196,854 | 0.0 | |||||||
| 2,920,000 (2) | Nutrien Ltd., 5.400%, 06/21/2034 | 3,024,700 | 0.0 | |||||||
| 407,000 | Nutrien Ltd., 5.875%, 12/01/2036 | 436,342 | 0.0 | |||||||
| 6,800,000 (1) | OCP SA, 6.750%, 05/02/2034 | 7,304,696 | 0.1 | |||||||
| 4,100,000 (2) | Olin Corp., 5.000%, 02/01/2030 | 4,008,422 | 0.0 | |||||||
| 4,700,000 (1) | Sociedad Quimica y Minera de Chile SA, 5.500%, 09/10/2034 | 4,702,350 | 0.1 | |||||||
| 2,943,000 | Steel Dynamics, Inc., 1.650%, 10/15/2027 | 2,723,933 | 0.0 | |||||||
| 1,974,000 | Steel Dynamics, Inc., 2.400%, 06/15/2025 | 1,942,437 | 0.0 | |||||||
| 70,301,081 | 0.7 | |||||||||
| Communications: 2.0% | ||||||||||
| 2,713,000 | Amazon.com, Inc., 2.100%, 05/12/2031 | 2,402,649 | 0.0 | |||||||
| 489,000 | AT&T, Inc., 3.500%, 06/01/2041 | 400,437 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Communications: (continued) | ||||||||||
| 3,727,000 | AT&T, Inc., 3.550%, 09/15/2055 | $ | 2,728,499 | 0.0 | ||||||
| 2,306,000 | AT&T, Inc., 3.650%, 09/15/2059 | 1,674,548 | 0.0 | |||||||
| 521,000 | AT&T, Inc., 4.500%, 05/15/2035 | 507,547 | 0.0 | |||||||
| 2,795,000 | AT&T, Inc., 4.900%, 08/15/2037 | 2,776,791 | 0.0 | |||||||
| 2,136,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 2.250%, 01/15/2029 | 1,902,537 | 0.0 | |||||||
| 902,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.400%, 12/01/2061 | 614,003 | 0.0 | |||||||
| 1,674,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.800%, 03/01/2050 | 1,282,397 | 0.0 | |||||||
| 2,458,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 5.250%, 04/01/2053 | 2,009,889 | 0.0 | |||||||
| 4,569,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.100%, 06/01/2029 | 4,730,739 | 0.1 | |||||||
| 3,217,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.550%, 06/01/2034 | 3,347,481 | 0.0 | |||||||
| 3,729,000 | Cisco Systems, Inc., 4.950%, 02/26/2031 | 3,898,926 | 0.1 | |||||||
| 3,781,000 | Cisco Systems, Inc., 5.300%, 02/26/2054 | 4,014,636 | 0.1 | |||||||
| 1,003,000 | Cisco Systems, Inc., 5.350%, 02/26/2064 | 1,066,006 | 0.0 | |||||||
| 3,703,000 | Comcast Corp., 1.950%, 01/15/2031 | 3,216,218 | 0.0 | |||||||
| 4,057,000 | Comcast Corp., 2.650%, 02/01/2030 | 3,755,433 | 0.1 | |||||||
| 2,295,000 | Comcast Corp., 3.200%, 07/15/2036 | 1,972,032 | 0.0 | |||||||
| 2,428,000 | Comcast Corp., 3.900%, 03/01/2038 | 2,192,612 | 0.0 | |||||||
| 1,749,000 (2) | Comcast Corp., 5.300%, 06/01/2034 | 1,843,211 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
68
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Communications: (continued) | ||||||||||
| 2,075,000 | Comcast Corp., 5.500%, 05/15/2064 | $ | 2,147,268 | 0.0 | ||||||
| 2,548,000 | Discovery Communications LLC, 3.625%, 05/15/2030 | 2,296,253 | 0.0 | |||||||
| 4,420,000 (1) | GCI LLC, 4.750%, 10/15/2028 | 4,248,291 | 0.1 | |||||||
| 5,000,000 (1)(2) | Match Group Holdings II LLC, 3.625%, 10/01/2031 | 4,481,619 | 0.1 | |||||||
| 307,000 | Meta Platforms, Inc., 4.650%, 08/15/2062 | 286,261 | 0.0 | |||||||
| 13,079,000 | Meta Platforms, Inc., 4.750%, 08/15/2034 | 13,354,806 | 0.2 | |||||||
| 7,388,000 | Meta Platforms, Inc., 5.400%, 08/15/2054 | 7,745,874 | 0.1 | |||||||
| 7,951,000 | Meta Platforms, Inc., 5.550%, 08/15/2064 | 8,499,274 | 0.1 | |||||||
| 2,400,000 | Meta Platforms, Inc., 5.750%, 05/15/2063 | 2,632,838 | 0.0 | |||||||
| 2,283,000 | Motorola Solutions, Inc., 5.000%, 04/15/2029 | 2,343,010 | 0.0 | |||||||
| 1,960,000 (1) | NBN Co. Ltd., 1.450%, 05/05/2026 | 1,876,245 | 0.0 | |||||||
| 3,507,000 (1)(2) | NBN Co. Ltd., 1.625%, 01/08/2027 | 3,311,932 | 0.0 | |||||||
| 1,369,000 (1) | NBN Co. Ltd., 2.500%, 01/08/2032 | 1,192,658 | 0.0 | |||||||
| 2,604,000 (1)(2) | NBN Co. Ltd., 6.000%, 10/06/2033 | 2,853,395 | 0.0 | |||||||
| 3,685,000 | Netflix, Inc., 5.875%, 11/15/2028 | 3,928,274 | 0.1 | |||||||
| 2,942,000 (1) | Optics Bidco SpA 2038, 7.721%, 06/04/2038 | 3,258,886 | 0.0 | |||||||
| 402,000 | Paramount Global, 4.950%, 05/19/2050 | 308,017 | 0.0 | |||||||
| 566,000 | Paramount Global, 5.850%, 09/01/2043 | 493,883 | 0.0 | |||||||
| 4,305,000 (1)(2) | Sirius XM Radio, Inc., 5.500%, 07/01/2029 | 4,209,046 | 0.1 | |||||||
| 7,112,000 | Sprint Capital Corp., 6.875%, 11/15/2028 | 7,770,585 | 0.1 | |||||||
| 6,433,000 | Sprint Capital Corp., 8.750%, 03/15/2032 | 7,986,605 | 0.1 | |||||||
| 1,506,000 | Time Warner Cable LLC, 5.500%, 09/01/2041 | 1,306,483 | 0.0 | |||||||
| 792,000 | Time Warner Cable LLC, 5.875%, 11/15/2040 | 718,571 | 0.0 | |||||||
| 2,371,000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 | 2,209,213 | 0.0 | |||||||
| 593,000 | T-Mobile USA, Inc., 2.250%, 02/15/2026 | 577,005 | 0.0 | |||||||
| 1,798,000 | T-Mobile USA, Inc., 2.625%, 02/15/2029 | 1,676,288 | 0.0 | |||||||
| 6,621,000 | T-Mobile USA, Inc., 3.500%, 04/15/2031 | 6,236,765 | 0.1 | |||||||
| 5,304,000 | T-Mobile USA, Inc., 3.875%, 04/15/2030 | 5,159,368 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Communications: (continued) | ||||||||||
| 679,000 | T-Mobile USA, Inc., 4.375%, 04/15/2040 | $ | 626,464 | 0.0 | ||||||
| 2,061,000 | T-Mobile USA, Inc., 5.750%, 01/15/2054 | 2,192,345 | 0.0 | |||||||
| 167,000 | T-Mobile USA, Inc., 5.800%, 09/15/2062 | 177,396 | 0.0 | |||||||
| 423,000 | T-Mobile USA, Inc., 6.000%, 06/15/2054 | 466,391 | 0.0 | |||||||
| 2,356,000 (1) | Uber Technologies, Inc., 4.500%, 08/15/2029 | 2,340,178 | 0.0 | |||||||
| 1,800,000 (2) | Uber Technologies, Inc., 4.800%, 09/15/2034 | 1,798,632 | 0.0 | |||||||
| 3,702,000 | Uber Technologies, Inc., 5.350%, 09/15/2054 | 3,673,955 | 0.1 | |||||||
| 287,000 | Verizon Communications, Inc., 1.750%, 01/20/2031 | 244,907 | 0.0 | |||||||
| 3,231,000 | Verizon Communications, Inc., 2.355%, 03/15/2032 | 2,784,606 | 0.0 | |||||||
| 291,000 | Verizon Communications, Inc., 2.550%, 03/21/2031 | 259,936 | 0.0 | |||||||
| 367,000 | Verizon Communications, Inc., 3.400%, 03/22/2041 | 299,904 | 0.0 | |||||||
| 1,009,000 | Verizon Communications, Inc., 3.850%, 11/01/2042 | 862,778 | 0.0 | |||||||
| 1,093,000 | Verizon Communications, Inc., 4.400%, 11/01/2034 | 1,067,869 | 0.0 | |||||||
| 3,734,000 | Verizon Communications, Inc., 4.812%, 03/15/2039 | 3,678,237 | 0.1 | |||||||
| 432,000 | Verizon Communications, Inc., 5.500%, 02/23/2054 | 453,208 | 0.0 | |||||||
| 1,022,000 | Verizon Communications, Inc., 6.550%, 09/15/2043 | 1,199,572 | 0.0 | |||||||
| 4,085,000 (1)(2) | Viasat, Inc., 5.625%, 04/15/2027 | 3,858,350 | 0.1 | |||||||
| 4,660,000 (1) | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 4,152,677 | 0.1 | |||||||
| 1,950,000 (1) | Vmed O2 UK Financing I PLC, 7.750%, 04/15/2032 | 2,004,074 | 0.0 | |||||||
| 2,679,000 | Vodafone Group PLC, 5.875%, 06/28/2064 | 2,765,265 | 0.0 | |||||||
| 184,352,048 | 2.0 | |||||||||
| Consumer, Cyclical: 2.3% | ||||||||||
| 286,113 | American Airlines Pass Through Trust 2015-2, AA, 3.600%, 03/22/2029 | 277,245 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
69
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 1,921,193 | American Airlines Pass Through Trust 2016-1, A, 4.100%, 07/15/2029 | $ | 1,838,303 | 0.0 | ||||||
| 1,762,841 | American Airlines Pass Through Trust 2016-1, AA, 3.575%, 07/15/2029 | 1,702,326 | 0.0 | |||||||
| 345,560 | American Airlines Pass Through Trust 2016-2, A, 3.650%, 12/15/2029 | 322,746 | 0.0 | |||||||
| 2,336,116 | American Airlines Pass Through Trust 2016-2, AA, 3.200%, 12/15/2029 | 2,216,586 | 0.0 | |||||||
| 4,549,946 | American Airlines Pass Through Trust 2017-2, AA, 3.350%, 04/15/2031 | 4,302,640 | 0.1 | |||||||
| 927,434 | American Airlines Pass Through Trust 2019-1, AA, 3.150%, 08/15/2033 | 865,136 | 0.0 | |||||||
| 3,718,000 | American Honda Finance Corp., 4.700%, 01/12/2028 | 3,785,887 | 0.0 | |||||||
| 2,009,000 | American Honda Finance Corp., 5.650%, 11/15/2028 | 2,123,437 | 0.0 | |||||||
| 470,000 | American Honda Finance Corp., GMTN, 4.900%, 01/10/2034 | 478,343 | 0.0 | |||||||
| 2,195,000 | Aptiv PLC / Aptiv Global Financing DAC, 5.750%, 09/13/2054 | 2,118,474 | 0.0 | |||||||
| 4,430,000 | Asbury Automotive Group, Inc., 4.750%, 03/01/2030 | 4,243,681 | 0.1 | |||||||
| 1,332,000 | AutoZone, Inc., 6.250%, 11/01/2028 | 1,427,160 | 0.0 | |||||||
| 4,405,000 | Bath & Body Works, Inc., 6.750%, 07/01/2036 | 4,544,520 | 0.1 | |||||||
| 3,374,000 | BorgWarner, Inc., 5.400%, 08/15/2034 | 3,446,905 | 0.0 | |||||||
| 455,935 | Delta Air Lines Pass Through Trust 20-1, A, 2.500%, 12/10/2029 | 429,881 | 0.0 | |||||||
| 996,511 | Delta Air Lines Pass Through Trust 2015-1, AA, 3.625%, 01/30/2029 | 966,653 | 0.0 | |||||||
| 632,291 (1) | Delta Air Lines, Inc. / SkyMiles IP Ltd., 4.750%, 10/20/2028 | 631,729 | 0.0 | |||||||
| 3,570,000 (1) | Denso Corp., 4.420%, 09/11/2029 | 3,611,805 | 0.0 | |||||||
| 3,092,000 | Ford Motor Co., 3.250%, 02/12/2032 | 2,634,228 | 0.0 | |||||||
| 5,432,000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 5,292,020 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 3,434,000 | Ford Motor Credit Co. LLC, 5.113%, 05/03/2029 | $ | 3,403,059 | 0.0 | ||||||
| 3,291,000 | Ford Motor Credit Co. LLC, 5.800%, 03/08/2029 | 3,346,359 | 0.0 | |||||||
| 2,153,000 | General Motors Co., 6.125%, 10/01/2025 | 2,174,106 | 0.0 | |||||||
| 4,658,000 | General Motors Financial Co., Inc., 2.350%, 01/08/2031 | 3,988,990 | 0.1 | |||||||
| 4,985,000 | General Motors Financial Co., Inc., 4.900%, 10/06/2029 | 4,992,179 | 0.1 | |||||||
| 8,192,000 | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | 8,450,827 | 0.1 | |||||||
| 2,016,000 | General Motors Financial Co., Inc., 5.950%, 04/04/2034 | 2,087,225 | 0.0 | |||||||
| 1,533,000 | General Motors Financial Co., Inc., 6.100%, 01/07/2034 | 1,597,161 | 0.0 | |||||||
| 2,490,000 | Genuine Parts Co., 4.950%, 08/15/2029 | 2,533,798 | 0.0 | |||||||
| 4,340,000 (1) | H&E Equipment Services, Inc., 3.875%, 12/15/2028 | 4,078,400 | 0.1 | |||||||
| 3,490,000 | Home Depot, Inc., 2.700%, 04/15/2030 | 3,247,691 | 0.0 | |||||||
| 466,000 (2) | Home Depot, Inc., 5.400%, 06/25/2064 | 493,883 | 0.0 | |||||||
| 1,500,000 | Hyatt Hotels Corp., 5.250%, 06/30/2029 | 1,536,656 | 0.0 | |||||||
| 3,491,000 (1) | Hyundai Capital America, 5.300%, 06/24/2029 | 3,595,848 | 0.0 | |||||||
| 885,000 (1) | Hyundai Capital America, 5.400%, 01/08/2031 | 915,334 | 0.0 | |||||||
| 2,815,000 (1) | Hyundai Capital America, 5.680%, 06/26/2028 | 2,921,075 | 0.0 | |||||||
| 7,291,000 (1) | Hyundai Capital America, 6.100%, 09/21/2028 | 7,695,577 | 0.1 | |||||||
| 3,206,000 (1) | Hyundai Capital America, 6.500%, 01/16/2029 | 3,441,004 | 0.0 | |||||||
| 496,000 | Lowe’s Cos., Inc., 5.750%, 07/01/2053 | 523,950 | 0.0 | |||||||
| 377,000 | Lowe’s Cos., Inc., 5.850%, 04/01/2063 | 399,941 | 0.0 | |||||||
| 5,000,000 (2) | Macy’s Retail Holdings LLC, 4.500%, 12/15/2034 | 4,195,332 | 0.1 | |||||||
| 3,170,000 | Marriott International, Inc., 4.800%, 03/15/2030 | 3,216,282 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
70
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 2,800,000 | Marriott International, Inc., 5.350%, 03/15/2035 | $ | 2,870,913 | 0.0 | ||||||
| 3,720,000 (1)(2) | Mercedes-Benz Finance North America LLC, 4.800%, 08/01/2029 | 3,783,282 | 0.0 | |||||||
| 3,825,000 (2) | MGM Resorts International, 6.500%, 04/15/2032 | 3,900,353 | 0.1 | |||||||
| 1,054,882 (1) | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd., 6.500%, 06/20/2027 | 1,068,789 | 0.0 | |||||||
| 3,170,000 | O’Reilly Automotive, Inc., 5.000%, 08/19/2034 | 3,209,480 | 0.0 | |||||||
| 3,775,000 (1)(2) | Panasonic Holdings Corp., 5.302%, 07/16/2034 | 3,892,694 | 0.1 | |||||||
| 8,295,000 (2) | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 8,527,078 | 0.1 | |||||||
| 1,820,000 (1) | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 1,624,245 | 0.0 | |||||||
| 4,610,000 (1) | Tempur Sealy International, Inc., 4.000%, 04/15/2029 | 4,303,794 | 0.1 | |||||||
| 2,985,000 | Toyota Motor Credit Corp., 4.550%, 08/09/2029 | 3,033,917 | 0.0 | |||||||
| 3,710,000 | Toyota Motor Credit Corp., 5.550%, 11/20/2030 | 3,965,217 | 0.1 | |||||||
| 814,772 | United Airlines Pass Through Trust 20-1, A, 5.875%, 04/15/2029 | 832,294 | 0.0 | |||||||
| 3,680,754 | United Airlines Pass Through Trust 2016-2, AA, 2.875%, 04/07/2030 | 3,449,190 | 0.0 | |||||||
| 2,325,000 (1)(2) | United Airlines, Inc., 4.625%, 04/15/2029 | 2,248,087 | 0.0 | |||||||
| 1,602,334 | US Airways Pass Through Trust 2012-1, A, 5.900%, 04/01/2026 | 1,602,348 | 0.0 | |||||||
| 173,279 | US Airways Pass Through Trust 2012-2, A, 4.625%, 12/03/2026 | 172,634 | 0.0 | |||||||
| 6,862,000 (1)(2) | Volkswagen Group of America Finance LLC, 5.250%, 03/22/2029 | 7,008,626 | 0.1 | |||||||
| 7,425,000 (1) | Volkswagen Group of America Finance LLC, 5.300%, 03/22/2027 | 7,562,759 | 0.1 | |||||||
| 1,521,000 (1) | Volkswagen Group of America Finance LLC, 5.900%, 09/12/2033 | 1,600,816 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 5,591,000 (1) | Volkswagen Group of America Finance LLC, 6.450%, 11/16/2030 | $ | 5,993,896 | 0.1 | ||||||
| 4,562,000 | Walmart, Inc., 4.000%, 04/15/2030 | 4,617,545 | 0.1 | |||||||
| 8,392,000 | Warnermedia Holdings, Inc., 3.755%, 03/15/2027 | 8,116,347 | 0.1 | |||||||
| 3,546,000 | Warnermedia Holdings, Inc., 5.050%, 03/15/2042 | 2,896,467 | 0.0 | |||||||
| 6,729,000 | Warnermedia Holdings, Inc., 5.141%, 03/15/2052 | 5,194,042 | 0.1 | |||||||
| 2,838,000 | Warnermedia Holdings, Inc., 5.391%, 03/15/2062 | 2,176,340 | 0.0 | |||||||
| 1,893,000 | WW Grainger, Inc., 4.450%, 09/15/2034 | 1,891,512 | 0.0 | |||||||
| 3,950,000 (1) | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp., 6.250%, 03/15/2033 | 4,004,002 | 0.1 | |||||||
| 3,925,000 (1) | ZF North America Capital, Inc., 7.125%, 04/14/2030 | 4,071,654 | 0.1 | |||||||
| 219,712,703 | 2.3 | |||||||||
| Consumer, Non-cyclical: 4.6% | ||||||||||
| 1,468,000 | AbbVie, Inc., 3.200%, 11/21/2029 | 1,404,232 | 0.0 | |||||||
| 1,888,000 | AbbVie, Inc., 4.050%, 11/21/2039 | 1,744,934 | 0.0 | |||||||
| 5,635,000 | AbbVie, Inc., 4.300%, 05/14/2036 | 5,489,648 | 0.1 | |||||||
| 4,402,000 | AbbVie, Inc., 4.500%, 05/14/2035 | 4,389,742 | 0.1 | |||||||
| 5,490,000 | AbbVie, Inc., 4.950%, 03/15/2031 | 5,710,003 | 0.1 | |||||||
| 847,000 | AbbVie, Inc., 5.400%, 03/15/2054 | 898,822 | 0.0 | |||||||
| 852,000 | AbbVie, Inc., 5.500%, 03/15/2064 | 910,478 | 0.0 | |||||||
| 4,305,000 (1)(2) | ADT Security Corp., 4.125%, 08/01/2029 | 4,115,826 | 0.1 | |||||||
| 1,879,000 | Aetna, Inc., 6.625%, 06/15/2036 | 2,125,401 | 0.0 | |||||||
| 4,460,000 (1) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 | 4,171,200 | 0.1 | |||||||
| 2,795,000 | Altria Group, Inc., 6.200%, 11/01/2028 | 2,977,688 | 0.0 | |||||||
| 1,582,000 | Amgen, Inc., 5.650%, 03/02/2053 | 1,665,343 | 0.0 | |||||||
| 758,000 | Amgen, Inc., 5.750%, 03/02/2063 | 800,726 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
71
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 5,490,000 | Astrazeneca Finance LLC, 4.900%, 02/26/2031 | $ | 5,713,726 | 0.1 | ||||||
| 245,000 | BAT Capital Corp., 3.557%, 08/15/2027 | 240,056 | 0.0 | |||||||
| 4,594,000 | BAT Capital Corp., 4.390%, 08/15/2037 | 4,180,659 | 0.1 | |||||||
| 1,359,000 | BAT Capital Corp., 5.834%, 02/20/2031 | 1,442,145 | 0.0 | |||||||
| 743,000 | BAT Capital Corp., 7.079%, 08/02/2043 | 852,023 | 0.0 | |||||||
| 3,983,000 | Becton Dickinson & Co., 4.693%, 02/13/2028 | 4,035,628 | 0.1 | |||||||
| 1,440,000 (1)(2) | Brink’s Co., 6.500%, 06/15/2029 | 1,493,060 | 0.0 | |||||||
| 1,440,000 (1) | Brink’s Co., 6.750%, 06/15/2032 | 1,503,799 | 0.0 | |||||||
| 1,184,000 | Bristol-Myers Squibb Co., 4.125%, 06/15/2039 | 1,095,941 | 0.0 | |||||||
| 2,283,000 | Bristol-Myers Squibb Co., 5.100%, 02/22/2031 | 2,391,195 | 0.0 | |||||||
| 612,000 | Bristol-Myers Squibb Co., 5.650%, 02/22/2064 | 649,076 | 0.0 | |||||||
| 737,000 | Bristol-Myers Squibb Co., 6.400%, 11/15/2063 | 867,537 | 0.0 | |||||||
| 2,900,000 | Bunge Ltd. Finance Corp., 4.200%, 09/17/2029 | 2,893,454 | 0.0 | |||||||
| 3,195,000 | Campbell Soup Co., 5.200%, 03/21/2029 | 3,310,390 | 0.0 | |||||||
| 844,000 | Cardinal Health, Inc., 5.450%, 02/15/2034 | 883,290 | 0.0 | |||||||
| 2,355,000 (1) | Cargill, Inc., 1.700%, 02/02/2031 | 2,019,207 | 0.0 | |||||||
| 2,015,000 (1) | Cargill, Inc., 2.125%, 04/23/2030 | 1,820,782 | 0.0 | |||||||
| 3,128,000 | Cencora, Inc., 5.125%, 02/15/2034 | 3,222,476 | 0.0 | |||||||
| 23,127,000 | Centene Corp., 3.000%, 10/15/2030 | 20,720,682 | 0.2 | |||||||
| 2,944,000 | Centene Corp., 4.625%, 12/15/2029 | 2,882,962 | 0.0 | |||||||
| 4,968,000 | Cigna Group, 2.375%, 03/15/2031 | 4,382,368 | 0.1 | |||||||
| 5,861,000 | Cigna Group, 4.800%, 08/15/2038 | 5,713,264 | 0.1 | |||||||
| 2,888,000 (2) | Cigna Group, 5.250%, 02/15/2034 | 2,991,717 | 0.0 | |||||||
| 2,984,000 | Cigna Group, 5.600%, 02/15/2054 | 3,083,608 | 0.0 | |||||||
| 2,260,000 | Coca-Cola Co., 4.650%, 08/14/2034 | 2,315,431 | 0.0 | |||||||
| 894,000 | Coca-Cola Co., 5.200%, 01/14/2055 | 938,705 | 0.0 | |||||||
| 904,000 | Coca-Cola Co., 5.400%, 05/13/2064 | 968,440 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 3,207,000 | Coca-Cola Consolidated, Inc., 5.250%, 06/01/2029 | $ | 3,336,015 | 0.1 | ||||||
| 1,267,000 (1) | CSL Finance PLC, 5.417%, 04/03/2054 | 1,316,119 | 0.0 | |||||||
| 1,250,000 | CVS Health Corp., 2.700%, 08/21/2040 | 888,156 | 0.0 | |||||||
| 2,804,000 | CVS Health Corp., 4.125%, 04/01/2040 | 2,402,999 | 0.0 | |||||||
| 1,868,000 | CVS Health Corp., 4.780%, 03/25/2038 | 1,763,334 | 0.0 | |||||||
| 4,972,000 | CVS Health Corp., 5.050%, 03/25/2048 | 4,541,379 | 0.1 | |||||||
| 613,000 | CVS Health Corp., 5.625%, 02/21/2053 | 605,343 | 0.0 | |||||||
| 2,333,000 (2) | CVS Health Corp., 5.700%, 06/01/2034 | 2,434,776 | 0.0 | |||||||
| 219,000 | CVS Health Corp., 6.000%, 06/01/2063 | 223,481 | 0.0 | |||||||
| 853,000 | CVS Health Corp., 6.050%, 06/01/2054 | 890,546 | 0.0 | |||||||
| 4,950,000 (1) | DaVita, Inc., 3.750%, 02/15/2031 | 4,469,033 | 0.1 | |||||||
| 4,395,000 (1) | DaVita, Inc., 4.625%, 06/01/2030 | 4,192,985 | 0.1 | |||||||
| 5,555,000 (1) | Element Fleet Management Corp., 5.643%, 03/13/2027 | 5,697,764 | 0.1 | |||||||
| 2,548,000 (1) | Element Fleet Management Corp., 6.319%, 12/04/2028 | 2,716,569 | 0.0 | |||||||
| 1,641,000 | Elevance Health, Inc., 4.900%, 02/08/2026 | 1,640,632 | 0.0 | |||||||
| 3,032,000 | Eli Lilly & Co., 5.000%, 02/09/2054 | 3,084,902 | 0.0 | |||||||
| 3,481,000 | Eli Lilly & Co., 5.050%, 08/14/2054 | 3,569,817 | 0.1 | |||||||
| 2,548,000 | Equifax, Inc., 3.100%, 05/15/2030 | 2,386,507 | 0.0 | |||||||
| 9,320,000 | Global Payments, Inc., 1.200%, 03/01/2026 | 8,910,436 | 0.1 | |||||||
| 3,965,000 | Global Payments, Inc., 3.200%, 08/15/2029 | 3,715,948 | 0.1 | |||||||
| 429,000 | Global Payments, Inc., 5.950%, 08/15/2052 | 443,327 | 0.0 | |||||||
| 4,185,000 | GXO Logistics, Inc., 6.250%, 05/06/2029 | 4,406,488 | 0.1 | |||||||
| 1,030,000 | HCA, Inc., 2.375%, 07/15/2031 | 891,037 | 0.0 | |||||||
| 2,372,000 | HCA, Inc., 3.125%, 03/15/2027 | 2,305,810 | 0.0 | |||||||
| 1,149,000 | HCA, Inc., 3.500%, 09/01/2030 | 1,083,125 | 0.0 | |||||||
| 7,884,000 | HCA, Inc., 4.125%, 06/15/2029 | 7,762,753 | 0.1 | |||||||
| 990,000 | HCA, Inc., 4.375%, 03/15/2042 | 868,339 | 0.0 | |||||||
| 2,839,000 | HCA, Inc., 4.500%, 02/15/2027 | 2,843,100 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
72
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 2,869,000 | HCA, Inc., 5.125%, 06/15/2039 | $ | 2,831,554 | 0.0 | ||||||
| 1,337,000 | HCA, Inc., 5.250%, 04/15/2025 | 1,338,748 | 0.0 | |||||||
| 3,102,000 | HCA, Inc., 5.450%, 04/01/2031 | 3,233,017 | 0.0 | |||||||
| 3,963,000 | HCA, Inc., 6.000%, 04/01/2054 | 4,190,247 | 0.1 | |||||||
| 443,000 | HCA, Inc., 6.100%, 04/01/2064 | 467,018 | 0.0 | |||||||
| 2,316,000 (1) | Health Care Service Corp. A Mutual Legal Reserve Co., 1.500%, 06/01/2025 | 2,266,859 | 0.0 | |||||||
| 4,569,000 (1) | Health Care Service Corp. A Mutual Legal Reserve Co., 5.200%, 06/15/2029 | 4,712,820 | 0.1 | |||||||
| 3,193,000 | Humana, Inc., 5.375%, 04/15/2031 | 3,308,439 | 0.0 | |||||||
| 4,596,000 | Icon Investments Six DAC, 5.849%, 05/08/2029 | 4,832,173 | 0.1 | |||||||
| 4,596,000 (1) | Imperial Brands Finance PLC, 5.500%, 02/01/2030 | 4,746,154 | 0.1 | |||||||
| 2,300,000 (1) | Imperial Brands Finance PLC, 5.875%, 07/01/2034 | 2,392,096 | 0.0 | |||||||
| 2,617,000 | Johnson & Johnson, 3.625%, 03/03/2037 | 2,431,207 | 0.0 | |||||||
| 1,924,000 | Kenvue, Inc., 5.050%, 03/22/2028 | 1,991,423 | 0.0 | |||||||
| 485,000 | Kenvue, Inc., 5.100%, 03/22/2043 | 502,040 | 0.0 | |||||||
| 887,000 | Kenvue, Inc., 5.200%, 03/22/2063 | 911,672 | 0.0 | |||||||
| 1,639,000 | Keurig Dr Pepper, Inc., 5.050%, 03/15/2029 | 1,692,100 | 0.0 | |||||||
| 9,960,000 | Kroger Co., 4.900%, 09/15/2031 | 10,027,755 | 0.1 | |||||||
| 2,535,000 | Kroger Co., 5.500%, 09/15/2054 | 2,553,092 | 0.0 | |||||||
| 3,315,000 | Kroger Co., 5.650%, 09/15/2064 | 3,335,197 | 0.0 | |||||||
| 3,790,000 | Laboratory Corp. of America Holdings, 4.550%, 04/01/2032 | 3,747,893 | 0.1 | |||||||
| 2,740,000 | McKesson Corp., 4.250%, 09/15/2029 | 2,747,824 | 0.0 | |||||||
| 4,875,000 (1) | Medline Borrower L.P., 3.875%, 04/01/2029 | 4,619,621 | 0.1 | |||||||
| 10,375,000 (1)(2) | Minerva Luxembourg SA, 8.875%, 09/13/2033 | 11,345,062 | 0.1 | |||||||
| 2,593,000 | Mondelez International, Inc., 4.750%, 02/20/2029 | 2,651,733 | 0.0 | |||||||
| 661,000 (1) | Nestle Capital Corp., 5.100%, 03/12/2054 | 689,983 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 4,220,000 (1) | Organon & Co / Organon Foreign Debt Co-Issuer BV, 4.125%, 04/30/2028 | $ | 4,061,275 | 0.1 | ||||||
| 4,380,000 | PayPal Holdings, Inc., 5.150%, 06/01/2034 | 4,570,878 | 0.1 | |||||||
| 2,855,000 (1) | Performance Food Group, Inc., 6.125%, 09/15/2032 | 2,920,966 | 0.0 | |||||||
| 2,169,000 | Pfizer Investment Enterprises Pte Ltd., 4.650%, 05/19/2030 | 2,223,138 | 0.0 | |||||||
| 2,696,000 | Pfizer Investment Enterprises Pte Ltd., 4.750%, 05/19/2033 | 2,748,972 | 0.0 | |||||||
| 2,211,000 | Pfizer Investment Enterprises Pte Ltd., 5.300%, 05/19/2053 | 2,289,403 | 0.0 | |||||||
| 3,032,000 | Pfizer Investment Enterprises Pte Ltd., 5.340%, 05/19/2063 | 3,117,230 | 0.0 | |||||||
| 3,689,000 | Philip Morris International, Inc., 4.875%, 02/13/2029 | 3,783,381 | 0.1 | |||||||
| 3,850,000 (1)(2) | Post Holdings, Inc., 4.625%, 04/15/2030 | 3,687,240 | 0.1 | |||||||
| 4,410,000 (1) | Post Holdings, Inc., 5.500%, 12/15/2029 | 4,381,664 | 0.1 | |||||||
| 535,000 (1) | Post Holdings, Inc., 6.375%, 03/01/2033 | 545,068 | 0.0 | |||||||
| 4,380,000 (1)(2) | Primo Water Holdings, Inc., 4.375%, 04/30/2029 | 4,203,999 | 0.1 | |||||||
| 3,823,000 | Quanta Services, Inc., 5.250%, 08/09/2034 | 3,910,552 | 0.1 | |||||||
| 924,000 | Quest Diagnostics, Inc., 2.800%, 06/30/2031 | 833,533 | 0.0 | |||||||
| 951,000 | Quest Diagnostics, Inc., 2.950%, 06/30/2030 | 882,331 | 0.0 | |||||||
| 4,985,000 | Quest Diagnostics, Inc., 4.625%, 12/15/2029 | 5,047,373 | 0.1 | |||||||
| 2,705,000 | Quest Diagnostics, Inc., 5.000%, 12/15/2034 | 2,740,699 | 0.0 | |||||||
| 1,983,000 | Quest Diagnostics, Inc., 6.400%, 11/30/2033 | 2,217,576 | 0.0 | |||||||
| 1,078,000 | Reynolds American, Inc., 5.850%, 08/15/2045 | 1,079,139 | 0.0 | |||||||
| 1,845,000 (1) | Roche Holdings, Inc., 4.592%, 09/09/2034 | 1,863,009 | 0.0 | |||||||
| 6,559,000 (1) | Roche Holdings, Inc., 5.489%, 11/13/2030 | 7,007,040 | 0.1 | |||||||
| 1,501,000 | Royalty Pharma PLC, 1.200%, 09/02/2025 | 1,454,279 | 0.0 | |||||||
| 1,897,000 (2) | Royalty Pharma PLC, 1.750%, 09/02/2027 | 1,768,046 | 0.0 | |||||||
| 3,901,000 | Royalty Pharma PLC, 2.200%, 09/02/2030 | 3,417,101 | 0.1 | |||||||
| 1,236,000 | Royalty Pharma PLC, 3.300%, 09/02/2040 | 957,609 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
73
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 2,100,000 | Royalty Pharma PLC, 5.150%, 09/02/2029 | $ | 2,154,748 | 0.0 | ||||||
| 1,614,000 | S&P Global, Inc., 1.250%, 08/15/2030 | 1,377,922 | 0.0 | |||||||
| 4,660,000 | S&P Global, Inc., 2.700%, 03/01/2029 | 4,399,255 | 0.1 | |||||||
| 3,198,000 (1) | Solventum Corp., 5.450%, 03/13/2031 | 3,298,044 | 0.0 | |||||||
| 2,973,000 (1) | Solventum Corp., 5.600%, 03/23/2034 | 3,079,937 | 0.0 | |||||||
| 3,895,000 (1) | Solventum Corp., 5.900%, 04/30/2054 | 4,037,629 | 0.1 | |||||||
| 1,215,000 | Takeda Pharmaceutical Co. Ltd., 5.300%, 07/05/2034 | 1,268,478 | 0.0 | |||||||
| 1,860,000 | Takeda Pharmaceutical Co. Ltd., 5.650%, 07/05/2044 | 1,958,230 | 0.0 | |||||||
| 1,790,000 | Takeda Pharmaceutical Co. Ltd., 5.650%, 07/05/2054 | 1,881,277 | 0.0 | |||||||
| 2,441,000 | Takeda Pharmaceutical Co. Ltd., 5.800%, 07/05/2064 | 2,566,038 | 0.0 | |||||||
| 4,406,000 | Thermo Fisher Scientific, Inc., 4.977%, 08/10/2030 | 4,593,965 | 0.1 | |||||||
| 2,271,000 (1) | Triton Container International Ltd., 2.050%, 04/15/2026 | 2,177,696 | 0.0 | |||||||
| 2,800,000 | Tyson Foods, Inc., 5.400%, 03/15/2029 | 2,908,550 | 0.0 | |||||||
| 8,980,000 | Unilever Capital Corp., 4.625%, 08/12/2034 | 9,113,730 | 0.1 | |||||||
| 704,000 | UnitedHealth Group, Inc., 2.750%, 05/15/2040 | 539,293 | 0.0 | |||||||
| 210,000 | UnitedHealth Group, Inc., 3.050%, 05/15/2041 | 165,882 | 0.0 | |||||||
| 1,700,000 | UnitedHealth Group, Inc., 3.500%, 08/15/2039 | 1,466,180 | 0.0 | |||||||
| 385,000 | UnitedHealth Group, Inc., 3.750%, 10/15/2047 | 316,221 | 0.0 | |||||||
| 4,985,000 | UnitedHealth Group, Inc., 4.950%, 01/15/2032 | 5,157,314 | 0.1 | |||||||
| 2,313,000 | UnitedHealth Group, Inc., 5.000%, 04/15/2034 | 2,389,100 | 0.0 | |||||||
| 2,230,000 | UnitedHealth Group, Inc., 5.150%, 07/15/2034 | 2,328,303 | 0.0 | |||||||
| 768,000 | UnitedHealth Group, Inc., 5.200%, 04/15/2063 | 769,349 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 524,000 | UnitedHealth Group, Inc., 5.375%, 04/15/2054 | $ | 545,136 | 0.0 | ||||||
| 557,000 | UnitedHealth Group, Inc., 5.500%, 04/15/2064 | 582,897 | 0.0 | |||||||
| 2,695,000 | UnitedHealth Group, Inc., 5.750%, 07/15/2064 | 2,911,640 | 0.0 | |||||||
| 1,800,000 | Universal Health Services, Inc., 4.625%, 10/15/2029 | 1,789,487 | 0.0 | |||||||
| 407,000 | Utah Acquisition Sub, Inc., 5.250%, 06/15/2046 | 357,491 | 0.0 | |||||||
| 3,170,000 | Viatris, Inc., 2.700%, 06/22/2030 | 2,817,909 | 0.0 | |||||||
| 3,120,000 | Viatris, Inc., 3.850%, 06/22/2040 | 2,431,456 | 0.0 | |||||||
| 1,732,000 | Viatris, Inc., 4.000%, 06/22/2050 | 1,242,918 | 0.0 | |||||||
| 3,900,000 (1) | Williams Scotsman, Inc., 6.625%, 06/15/2029 | 4,018,962 | 0.1 | |||||||
| 2,800,000 | Zimmer Biomet Holdings, Inc., 5.200%, 09/15/2034 | 2,852,571 | 0.0 | |||||||
| 2,631,000 | Zimmer Biomet Holdings, Inc., 5.350%, 12/01/2028 | 2,731,571 | 0.0 | |||||||
| 433,912,791 | 4.6 | |||||||||
| Energy: 2.4% | ||||||||||
| 3,355,000 (1) | Aker BP ASA, 5.125%, 10/01/2034 | 3,316,639 | 0.0 | |||||||
| 3,900,000 (1) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 6.625%, 02/01/2032 | 4,039,585 | 0.1 | |||||||
| 508,000 | BP Capital Markets America, Inc., 2.939%, 06/04/2051 | 345,598 | 0.0 | |||||||
| 1,408,000 | BP Capital Markets America, Inc., 4.893%, 09/11/2033 | 1,433,172 | 0.0 | |||||||
| 750,000 | BP Capital Markets America, Inc., 4.989%, 04/10/2034 | 766,607 | 0.0 | |||||||
| 2,930,000 (3) | BP Capital Markets PLC, 4.875%, 12/31/2199 | 2,907,374 | 0.0 | |||||||
| 420,000 | Cenovus Energy, Inc., 5.400%, 06/15/2047 | 407,612 | 0.0 | |||||||
| 2,421,000 | Cheniere Energy Partners L.P., 4.500%, 10/01/2029 | 2,389,409 | 0.0 | |||||||
| 2,518,000 (1) | Columbia Pipelines Holding Co. LLC, 5.097%, 10/01/2031 | 2,541,124 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
74
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 3,990,000 (1) | Columbia Pipelines Holding Co. LLC, 6.042%, 08/15/2028 | $ | 4,173,753 | 0.1 | ||||||
| 930,000 | ConocoPhillips Co., 5.700%, 09/15/2063 | 993,201 | 0.0 | |||||||
| 3,850,000 (1) | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 3,854,412 | 0.1 | |||||||
| 3,669,000 (1) | Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp., 5.625%, 05/01/2027 | 3,684,388 | 0.1 | |||||||
| 4,987,000 | Devon Energy Corp., 5.200%, 09/15/2034 | 4,967,946 | 0.1 | |||||||
| 4,495,000 | Devon Energy Corp., 5.750%, 09/15/2054 | 4,378,310 | 0.1 | |||||||
| 1,207,000 | Diamondback Energy, Inc., 4.250%, 03/15/2052 | 979,610 | 0.0 | |||||||
| 901,000 | Diamondback Energy, Inc., 5.900%, 04/18/2064 | 908,850 | 0.0 | |||||||
| 2,514,000 | Diamondback Energy, Inc., 6.250%, 03/15/2053 | 2,695,979 | 0.0 | |||||||
| 4,425,000 (1) | DT Midstream, Inc., 4.375%, 06/15/2031 | 4,191,995 | 0.1 | |||||||
| 4,450,000 | Ecopetrol SA, 6.875%, 04/29/2030 | 4,456,097 | 0.1 | |||||||
| 11,510,000 | Ecopetrol SA, 8.375%, 01/19/2036 | 11,780,485 | 0.1 | |||||||
| 2,400,000 (1) | EIG Pearl Holdings Sarl, 3.545%, 08/31/2036 | 2,138,676 | 0.0 | |||||||
| 2,900,000 (2) | EIG Pearl Holdings Sarl, 3.545%, 08/31/2036 | 2,584,234 | 0.0 | |||||||
| 4,959,000 (3) | Enbridge, Inc. 20-A, 5.750%, 07/15/2080 | 4,874,538 | 0.1 | |||||||
| 2,548,000 | Energy Transfer L.P., 3.750%, 05/15/2030 | 2,434,644 | 0.0 | |||||||
| 356,000 | Energy Transfer L.P., 4.900%, 03/15/2035 | 351,625 | 0.0 | |||||||
| 1,382,000 | Energy Transfer L.P., 5.300%, 04/01/2044 | 1,322,690 | 0.0 | |||||||
| 280,000 | Energy Transfer L.P., 5.350%, 05/15/2045 | 266,947 | 0.0 | |||||||
| 1,001,000 | Energy Transfer L.P., 6.050%, 09/01/2054 | 1,037,675 | 0.0 | |||||||
| 2,172,000 | Energy Transfer L.P. 20Y, 5.800%, 06/15/2038 | 2,262,883 | 0.0 | |||||||
| 3,507,000 (1) | EnLink Midstream LLC, 6.500%, 09/01/2030 | 3,783,418 | 0.1 | |||||||
| 2,320,000 | Enterprise Products Operating LLC, 4.950%, 02/15/2035 | 2,356,948 | 0.0 | |||||||
| 1,098,000 | Enterprise Products Operating LLC, 5.550%, 02/16/2055 | 1,135,083 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 2,115,000 (3) | Enterprise Products Operating LLC D, 8.343%, (TSFR3M + 3.248%), 08/16/2077 | $ | 2,118,935 | 0.0 | ||||||
| 2,642,000 | Equinor ASA, 3.125%, 04/06/2030 | 2,512,160 | 0.0 | |||||||
| 1,225,000 (1) | Greensaif Pipelines Bidco Sarl, 6.129%, 02/23/2038 | 1,301,569 | 0.0 | |||||||
| 2,875,000 (1) | Greensaif Pipelines Bidco Sarl, 6.510%, 02/23/2042 | 3,111,289 | 0.0 | |||||||
| 4,785,000 | Hess Corp., 4.300%, 04/01/2027 | 4,784,534 | 0.1 | |||||||
| 4,045,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | 3,941,714 | 0.1 | |||||||
| 3,900,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 8.375%, 11/01/2033 | 4,207,628 | 0.1 | |||||||
| 599,000 | Kinder Morgan Energy Partners L.P., 5.000%, 03/01/2043 | 551,336 | 0.0 | |||||||
| 5,940,000 | Kinder Morgan, Inc., 5.300%, 12/01/2034 | 6,035,992 | 0.1 | |||||||
| 3,553,000 | Marathon Petroleum Corp., 5.125%, 12/15/2026 | 3,610,756 | 0.1 | |||||||
| 1,376,000 | MPLX L.P., 1.750%, 03/01/2026 | 1,325,602 | 0.0 | |||||||
| 4,472,000 | MPLX L.P., 2.650%, 08/15/2030 | 4,026,179 | 0.1 | |||||||
| 2,119,000 | MPLX L.P., 4.000%, 03/15/2028 | 2,090,285 | 0.0 | |||||||
| 1,312,000 | MPLX L.P., 5.500%, 06/01/2034 | 1,348,522 | 0.0 | |||||||
| 1,889,000 | Occidental Petroleum Corp., 5.375%, 01/01/2032 | 1,916,500 | 0.0 | |||||||
| 1,038,000 | Occidental Petroleum Corp., 6.050%, 10/01/2054 | 1,054,682 | 0.0 | |||||||
| 5,344,000 (2) | Occidental Petroleum Corp., 6.125%, 01/01/2031 | 5,642,826 | 0.1 | |||||||
| 2,699,000 | Occidental Petroleum Corp., 6.200%, 03/15/2040 | 2,804,226 | 0.0 | |||||||
| 520,000 (2) | Occidental Petroleum Corp., 6.600%, 03/15/2046 | 559,945 | 0.0 | |||||||
| 873,000 | Occidental Petroleum Corp., 8.500%, 07/15/2027 | 949,932 | 0.0 | |||||||
| 780,000 | ONEOK Partners L.P., 6.200%, 09/15/2043 | 823,027 | 0.0 | |||||||
| 1,754,000 | ONEOK, Inc., 5.850%, 01/15/2026 | 1,781,474 | 0.0 | |||||||
| 1,079,000 | Ovintiv, Inc., 5.650%, 05/15/2028 | 1,113,618 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
75
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 418,000 | Ovintiv, Inc., 7.100%, 07/15/2053 | $ | 471,488 | 0.0 | ||||||
| 4,000,000 (1) | Petroleos del Peru SA, 4.750%, 06/19/2032 | 3,165,000 | 0.0 | |||||||
| 2,280,000 | Petroleos del Peru SA, 4.750%, 06/19/2032 | 1,804,050 | 0.0 | |||||||
| 10,350,000 | Petroleos Mexicanos, 5.950%, 01/28/2031 | 8,956,890 | 0.1 | |||||||
| 3,135,000 | Petroleos Mexicanos, 6.500%, 03/13/2027 | 3,078,570 | 0.0 | |||||||
| 4,750,000 (1) | Raizen Fuels Finance S.A., 6.450%, 03/05/2034 | 5,010,775 | 0.1 | |||||||
| 3,550,000 (1)(2) | Raizen Fuels Finance SA, 5.700%, 01/17/2035 | 3,530,475 | 0.0 | |||||||
| 1,047,000 | Sabine Pass Liquefaction LLC, 4.200%, 03/15/2028 | 1,041,682 | 0.0 | |||||||
| 4,017,000 | Sabine Pass Liquefaction LLC, 5.000%, 03/15/2027 | 4,070,392 | 0.1 | |||||||
| 2,050,000 (1) | Saudi Arabian Oil Co., 5.750%, 07/17/2054 | 2,079,725 | 0.0 | |||||||
| 2,960,000 (1) | Schlumberger Holdings Corp., 5.000%, 11/15/2029 | 3,056,893 | 0.0 | |||||||
| 2,187,000 | Schlumberger Investment SA, 2.650%, 06/26/2030 | 2,011,146 | 0.0 | |||||||
| 1,172,000 | Targa Resources Corp., 5.500%, 02/15/2035 | 1,207,488 | 0.0 | |||||||
| 470,000 | Targa Resources Corp., 6.250%, 07/01/2052 | 506,337 | 0.0 | |||||||
| 3,166,000 | Targa Resources Partners L.P. / Targa Resources Partners Finance Corp., 4.875%, 02/01/2031 | 3,144,766 | 0.0 | |||||||
| 1,317,000 | TotalEnergies Capital SA, 5.150%, 04/05/2034 | 1,370,285 | 0.0 | |||||||
| 723,000 | TotalEnergies Capital SA, 5.488%, 04/05/2054 | 747,728 | 0.0 | |||||||
| 677,000 | TotalEnergies Capital SA, 5.638%, 04/05/2064 | 706,505 | 0.0 | |||||||
| 1,073,000 | Transcontinental Gas Pipe Line Co. LLC, 3.250%, 05/15/2030 | 1,005,456 | 0.0 | |||||||
| 8,090,000 (1) | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 8,547,943 | 0.1 | |||||||
| 2,199,000 | Western Midstream Operating L.P., 5.300%, 03/01/2048 | 1,998,786 | 0.0 | |||||||
| 5,162,000 | Western Midstream Operating L.P., 5.450%, 11/15/2034 | 5,177,042 | 0.1 | |||||||
| 10,037,000 | Williams Cos., Inc., 4.000%, 09/15/2025 | 9,980,303 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 1,169,000 | Williams Cos., Inc., 4.900%, 03/15/2029 | $ | 1,188,176 | 0.0 | ||||||
| 221,232,139 | 2.4 | |||||||||
| Financial: 9.5% | ||||||||||
| 4,537,000 (1)(3) | ABN AMRO Bank NV, 3.324%, 03/13/2037 | 3,972,342 | 0.1 | |||||||
| 3,207,000 | Air Lease Corp., MTN, 5.200%, 07/15/2031 | 3,279,968 | 0.0 | |||||||
| 1,750,000 | Alleghany Corp., 3.250%, 08/15/2051 | 1,272,199 | 0.0 | |||||||
| 1,420,000 | Alleghany Corp., 4.900%, 09/15/2044 | 1,391,229 | 0.0 | |||||||
| 3,475,000 (1) | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | 3,515,785 | 0.0 | |||||||
| 1,355,000 (3) | American Express Co., 4.990%, 05/01/2026 | 1,356,653 | 0.0 | |||||||
| 3,094,000 (3) | American Express Co., 5.098%, 02/16/2028 | 3,153,771 | 0.0 | |||||||
| 5,808,000 (3) | American Express Co., 5.282%, 07/27/2029 | 6,017,204 | 0.1 | |||||||
| 3,613,000 (3) | American Express Co., 5.532%, 04/25/2030 | 3,787,941 | 0.1 | |||||||
| 1,052,000 | American Homes 4 Rent L.P., 3.625%, 04/15/2032 | 973,162 | 0.0 | |||||||
| 1,453,000 | American Homes 4 Rent L.P., 4.250%, 02/15/2028 | 1,441,248 | 0.0 | |||||||
| 5,539,000 | American Homes 4 Rent L.P., 5.500%, 02/01/2034 | 5,723,430 | 0.1 | |||||||
| 3,407,000 | American International Group, Inc., 3.400%, 06/30/2030 | 3,223,221 | 0.0 | |||||||
| 4,191,000 | American International Group, Inc., 4.200%, 04/01/2028 | 4,181,597 | 0.1 | |||||||
| 2,342,000 | American Tower Corp., 3.650%, 03/15/2027 | 2,306,742 | 0.0 | |||||||
| 1,649,000 | American Tower Corp., 5.250%, 07/15/2028 | 1,698,932 | 0.0 | |||||||
| 3,110,000 | American Tower Corp., 5.550%, 07/15/2033 | 3,260,859 | 0.0 | |||||||
| 2,351,000 | Ameriprise Financial, Inc., 5.700%, 12/15/2028 | 2,488,933 | 0.0 | |||||||
| 1,364,000 | Aon North America, Inc., 5.125%, 03/01/2027 | 1,395,753 | 0.0 | |||||||
| 6,710,000 | Aon North America, Inc., 5.150%, 03/01/2029 | 6,934,279 | 0.1 | |||||||
| 278,000 | Aon North America, Inc., 5.750%, 03/01/2054 | 294,736 | 0.0 | |||||||
| 906,000 | Arthur J Gallagher & Co., 6.750%, 02/15/2054 | 1,068,144 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
76
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 9,127,000 (1) | Athene Global Funding, 5.684%, 02/23/2026 | $ | 9,263,343 | 0.1 | ||||||
| 4,208,000 (1) | Aviation Capital Group LLC, 5.500%, 12/15/2024 | 4,204,670 | 0.1 | |||||||
| 3,750,000 (1) | Banco Nacional de Panama, 2.500%, 08/11/2030 | 3,111,337 | 0.0 | |||||||
| 2,000,000 | Banco Nacional de Panama, 2.500%, 08/11/2030 | 1,659,380 | 0.0 | |||||||
| 3,800,000 | Banco Santander SA, 2.746%, 05/28/2025 | 3,742,316 | 0.1 | |||||||
| 5,800,000 | Banco Santander SA, 5.439%, 07/15/2031 | 6,068,050 | 0.1 | |||||||
| 3,800,000 (3) | Banco Santander SA, 5.538%, 03/14/2030 | 3,930,689 | 0.1 | |||||||
| 6,829,000 (3) | Bank of America Corp., 1.734%, 07/22/2027 | 6,521,860 | 0.1 | |||||||
| 949,000 (3) | Bank of America Corp., 2.299%, 07/21/2032 | 821,921 | 0.0 | |||||||
| 3,524,000 (3) | Bank of America Corp., 2.572%, 10/20/2032 | 3,090,940 | 0.0 | |||||||
| 4,890,000 (3) | Bank of America Corp., 2.592%, 04/29/2031 | 4,436,684 | 0.1 | |||||||
| 2,505,000 (3) | Bank of America Corp., 2.687%, 04/22/2032 | 2,235,007 | 0.0 | |||||||
| 8,584,000 (3) | Bank of America Corp., 3.419%, 12/20/2028 | 8,352,471 | 0.1 | |||||||
| 2,973,000 (3) | Bank of America Corp., 5.202%, 04/25/2029 | 3,057,612 | 0.0 | |||||||
| 2,300,000 (3) | Bank of America Corp., 5.288%, 04/25/2034 | 2,392,080 | 0.0 | |||||||
| 3,389,000 (3) | Bank of America Corp., 5.468%, 01/23/2035 | 3,565,188 | 0.0 | |||||||
| 6,792,000 (3) | Bank of America Corp., 5.872%, 09/15/2034 | 7,330,792 | 0.1 | |||||||
| 3,817,000 (3) | Bank of America Corp., GMTN, 3.593%, 07/21/2028 | 3,747,254 | 0.1 | |||||||
| 1,380,000 (3) | Bank of America Corp., MTN, 2.015%, 02/13/2026 | 1,364,477 | 0.0 | |||||||
| 4,519,000 (3) | Bank of America Corp., MTN, 2.087%, 06/14/2029 | 4,174,466 | 0.1 | |||||||
| 2,122,000 (3) | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 2,039,095 | 0.0 | |||||||
| 6,323,000 (3) | Bank of America Corp., MTN, 2.884%, 10/22/2030 | 5,874,336 | 0.1 | |||||||
| 6,611,000 (3) | Bank of America Corp., MTN, 3.194%, 07/23/2030 | 6,259,070 | 0.1 | |||||||
| 7,803,000 (3) | Bank of America Corp., MTN, 4.271%, 07/23/2029 | 7,783,876 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 6,619,000 (3) | Bank of America Corp., MTN, 5.425%, 08/15/2035 | $ | 6,787,737 | 0.1 | ||||||
| 1,572,000 (3) | Bank of America Corp. N, 2.651%, 03/11/2032 | 1,403,592 | 0.0 | |||||||
| 7,475,000 (3) | Bank of Montreal, 4.640%, 09/10/2030 | 7,557,472 | 0.1 | |||||||
| 4,569,000 | Bank of Montreal, 5.511%, 06/04/2031 | 4,814,632 | 0.1 | |||||||
| 5,078,000 (3) | Bank of New York Mellon Corp., 5.060%, 07/22/2032 | 5,255,978 | 0.1 | |||||||
| 4,559,000 (3) | Bank of New York Mellon Corp., MTN, 4.975%, 03/14/2030 | 4,709,727 | 0.1 | |||||||
| 1,525,000 (3) | Bank of New York Mellon Corp., MTN, 5.188%, 03/14/2035 | 1,583,856 | 0.0 | |||||||
| 1,281,000 (3) | Bank of New York Mellon Corp., MTN, 5.834%, 10/25/2033 | 1,387,981 | 0.0 | |||||||
| 894,000 (3) | Bank of New York Mellon Corp. J, 4.967%, 04/26/2034 | 916,169 | 0.0 | |||||||
| 6,877,000 (3) | Bank of Nova Scotia, 4.740%, 11/10/2032 | 6,901,701 | 0.1 | |||||||
| 6,096,000 (1) | Banque Federative du Credit Mutuel SA, 4.935%, 01/26/2026 | 6,144,257 | 0.1 | |||||||
| 1,539,000 (1) | Blackstone Holdings Finance Co. LLC, 1.625%, 08/05/2028 | 1,397,261 | 0.0 | |||||||
| 5,080,000 (1) | Blackstone Holdings Finance Co. LLC, 2.000%, 01/30/2032 | 4,273,184 | 0.1 | |||||||
| 641,000 (1) | Blackstone Holdings Finance Co. LLC, 2.500%, 01/10/2030 | 587,586 | 0.0 | |||||||
| 3,286,000 (1) | Blackstone Private Credit Fund, 5.950%, 07/16/2029 | 3,347,631 | 0.0 | |||||||
| 3,572,000 | Blackstone Secured Lending Fund, 5.875%, 11/15/2027 | 3,633,435 | 0.0 | |||||||
| 1,643,000 (1) | Blue Owl Credit Income Corp., 5.800%, 03/15/2030 | 1,627,884 | 0.0 | |||||||
| 1,547,000 | Blue Owl Credit Income Corp., 6.650%, 03/15/2031 | 1,580,856 | 0.0 | |||||||
| 3,315,000 | Blue Owl Credit Income Corp., 7.750%, 09/16/2027 | 3,493,620 | 0.0 | |||||||
| 3,202,000 (1)(2) | BPCE SA, 5.203%, 01/18/2027 | 3,263,102 | 0.0 | |||||||
| 3,212,000 (1) | BPCE SA, 5.281%, 05/30/2029 | 3,319,753 | 0.0 | |||||||
| 3,202,000 (1)(3) | BPCE SA, 5.716%, 01/18/2030 | 3,308,349 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
77
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 1,047,000 | Brookfield Finance, Inc., 3.625%, 02/15/2052 | $ | 792,088 | 0.0 | ||||||
| 3,586,000 | Brookfield Finance, Inc., 5.675%, 01/15/2035 | 3,765,663 | 0.1 | |||||||
| 1,910,000 (1)(3) | CaixaBank SA, 5.673%, 03/15/2030 | 1,984,127 | 0.0 | |||||||
| 3,422,000 | Camden Property Trust, 4.900%, 01/15/2034 | 3,445,537 | 0.0 | |||||||
| 3,316,000 | Camden Property Trust, 5.850%, 11/03/2026 | 3,431,442 | 0.0 | |||||||
| 5,417,000 (3) | Canadian Imperial Bank of Commerce, 4.631%, 09/11/2030 | 5,453,849 | 0.1 | |||||||
| 3,558,000 (2) | Canadian Imperial Bank of Commerce, 5.260%, 04/08/2029 | 3,698,504 | 0.1 | |||||||
| 3,027,000 (3) | Capital One Financial Corp., 1.878%, 11/02/2027 | 2,876,592 | 0.0 | |||||||
| 3,171,000 (3) | Charles Schwab Corp., 6.196%, 11/17/2029 | 3,390,561 | 0.0 | |||||||
| 2,525,000 (3) | Charles Schwab Corp. H, 4.000%, 12/31/2199 | 2,261,244 | 0.0 | |||||||
| 2,211,000 | Chubb INA Holdings LLC, 4.650%, 08/15/2029 | 2,263,634 | 0.0 | |||||||
| 888,000 | Chubb INA Holdings LLC, 5.000%, 03/15/2034 | 922,495 | 0.0 | |||||||
| 3,908,000 | Citizens Financial Group, Inc., 2.500%, 02/06/2030 | 3,479,661 | 0.0 | |||||||
| 2,728,000 (3) | Citizens Financial Group, Inc., 5.641%, 05/21/2037 | 2,703,636 | 0.0 | |||||||
| 5,271,000 (3) | Citizens Financial Group, Inc., 6.645%, 04/25/2035 | 5,789,067 | 0.1 | |||||||
| 4,632,000 | CNO Financial Group, Inc., 6.450%, 06/15/2034 | 4,898,685 | 0.1 | |||||||
| 4,569,000 (1) | CNO Global Funding, 5.875%, 06/04/2027 | 4,707,819 | 0.1 | |||||||
| 1,120,000 (1) | Commonwealth Bank of Australia, 3.743%, 09/12/2039 | 957,865 | 0.0 | |||||||
| 9,015,000 (1)(2)(3) | Cooperatieve Rabobank UA, 5.447%, 03/05/2030 | 9,363,530 | 0.1 | |||||||
| 4,911,000 | Corebridge Financial, Inc., 3.900%, 04/05/2032 | 4,608,797 | 0.1 | |||||||
| 3,991,000 | Corebridge Financial, Inc., 5.750%, 01/15/2034 | 4,209,375 | 0.1 | |||||||
| 3,432,000 | Corebridge Financial, Inc., 6.050%, 09/15/2033 | 3,661,410 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 7,560,000 (3) | Corebridge Financial, Inc., 6.375%, 09/15/2054 | $ | 7,656,692 | 0.1 | ||||||
| 2,060,000 (3) | Corebridge Financial, Inc., 6.875%, 12/15/2052 | 2,132,891 | 0.0 | |||||||
| 2,700,000 (1) | Corp Financiera de Desarrollo SA, 2.400%, 09/28/2027 | 2,529,225 | 0.0 | |||||||
| 1,712,000 | Credit Suisse AG/New York NY, 1.250%, 08/07/2026 | 1,625,785 | 0.0 | |||||||
| 3,515,000 | Credit Suisse AG/New York NY, 5.000%, 07/09/2027 | 3,592,960 | 0.0 | |||||||
| 1,830,000 | Crown Castle, Inc., 2.100%, 04/01/2031 | 1,565,895 | 0.0 | |||||||
| 310,000 | Crown Castle, Inc., 2.500%, 07/15/2031 | 269,966 | 0.0 | |||||||
| 2,368,000 | Crown Castle, Inc., 2.900%, 03/15/2027 | 2,291,458 | 0.0 | |||||||
| 2,548,000 | Crown Castle, Inc., 3.300%, 07/01/2030 | 2,383,734 | 0.0 | |||||||
| 4,108,000 | Crown Castle, Inc., 4.800%, 09/01/2028 | 4,159,369 | 0.1 | |||||||
| 4,985,000 | Crown Castle, Inc., 4.900%, 09/01/2029 | 5,069,143 | 0.1 | |||||||
| 935,000 | Crown Castle, Inc., 5.100%, 05/01/2033 | 947,331 | 0.0 | |||||||
| 1,860,000 | Crown Castle, Inc., 5.200%, 09/01/2034 | 1,885,003 | 0.0 | |||||||
| 2,142,000 | Crown Castle, Inc., 5.600%, 06/01/2029 | 2,240,167 | 0.0 | |||||||
| 1,608,000 | Crown Castle, Inc., 5.800%, 03/01/2034 | 1,706,521 | 0.0 | |||||||
| 3,304,000 | CubeSmart L.P., 2.250%, 12/15/2028 | 3,040,495 | 0.0 | |||||||
| 5,206,000 (1)(3) | Danske Bank A/S, 4.613%, 10/02/2030 | 5,201,847 | 0.1 | |||||||
| 3,006,000 (1)(3) | Danske Bank A/S, 5.705%, 03/01/2030 | 3,134,052 | 0.0 | |||||||
| 2,157,000 (1)(3) | Depository Trust & Clearing Corp. D, 3.375%, 12/31/2199 | 2,066,658 | 0.0 | |||||||
| 6,876,000 | Deutsche Bank AG/New York NY, 5.414%, 05/10/2029 | 7,145,787 | 0.1 | |||||||
| 2,647,000 | Discover Bank, 4.250%, 03/13/2026 | 2,636,736 | 0.0 | |||||||
| 2,154,000 (3) | Discover Bank, 5.974%, 08/09/2028 | 2,226,203 | 0.0 | |||||||
| 6,759,000 | Enact Holdings, Inc., 6.250%, 05/28/2029 | 7,021,553 | 0.1 | |||||||
| 5,103,000 (1) | Equitable Holdings, Inc., 4.572%, 02/15/2029 | 5,085,896 | 0.1 | |||||||
| 3,053,000 | Essent Group Ltd., 6.250%, 07/01/2029 | 3,186,528 | 0.0 | |||||||
| 2,123,000 | Extra Space Storage L.P., 3.900%, 04/01/2029 | 2,074,328 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
78
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 1,534,000 | Extra Space Storage L.P., 4.000%, 06/15/2029 | $ | 1,504,784 | 0.0 | ||||||
| 2,430,000 | Extra Space Storage L.P., 5.350%, 01/15/2035 | 2,484,181 | 0.0 | |||||||
| 6,190,000 (1) | Federation des Caisses Desjardins du Quebec, 5.250%, 04/26/2029 | 6,382,009 | 0.1 | |||||||
| 3,035,000 (1) | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 3,065,945 | 0.0 | |||||||
| 2,954,000 (3) | Goldman Sachs Bank USA/New York NY, 5.283%, 03/18/2027 | 2,992,900 | 0.0 | |||||||
| 1,500,000 (3) | Goldman Sachs Bank USA/New York NY, 5.414%, 05/21/2027 | 1,524,714 | 0.0 | |||||||
| 3,595,000 (3) | Goldman Sachs Group, Inc., 3.102%, 02/24/2033 | 3,235,585 | 0.0 | |||||||
| 17,926,000 (3) | Goldman Sachs Group, Inc., 5.330%, 07/23/2035 | 18,576,321 | 0.2 | |||||||
| 1,800,000 (3) | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | 1,892,113 | 0.0 | |||||||
| 1,800,000 (3) | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 1,938,701 | 0.0 | |||||||
| 825,000 | Goldman Sachs Group, Inc., 6.750%, 10/01/2037 | 950,403 | 0.0 | |||||||
| 5,371,000 (1)(3) | Hartford Financial Services Group, Inc. ICON, 7.505%, (TSFR3M + 2.387%), 02/12/2067 | 4,983,250 | 0.1 | |||||||
| 3,196,000 | Healthpeak OP LLC, 5.250%, 12/15/2032 | 3,294,270 | 0.0 | |||||||
| 3,390,000 (2) | Host Hotels & Resorts L.P., 5.500%, 04/15/2035 | 3,440,540 | 0.0 | |||||||
| 8,371,000 (3) | HSBC Holdings PLC, 2.099%, 06/04/2026 | 8,213,835 | 0.1 | |||||||
| 6,173,000 (3) | HSBC Holdings PLC, 2.206%, 08/17/2029 | 5,661,453 | 0.1 | |||||||
| 4,392,000 (3) | HSBC Holdings PLC, 2.633%, 11/07/2025 | 4,379,033 | 0.1 | |||||||
| 2,826,000 (3) | HSBC Holdings PLC, 2.804%, 05/24/2032 | 2,501,589 | 0.0 | |||||||
| 3,052,000 (3) | HSBC Holdings PLC, 2.999%, 03/10/2026 | 3,024,010 | 0.0 | |||||||
| 2,300,000 (3) | HSBC Holdings PLC, 5.597%, 05/17/2028 | 2,364,905 | 0.0 | |||||||
| 1,826,000 (3) | Huntington Bancshares, Inc., 2.487%, 08/15/2036 | 1,487,922 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 7,294,000 (3) | Huntington Bancshares, Inc., 5.709%, 02/02/2035 | $ | 7,596,206 | 0.1 | ||||||
| 1,099,000 (3) | ING Groep NV, 5.550%, 03/19/2035 | 1,152,594 | 0.0 | |||||||
| 4,715,000 | Intercontinental Exchange, Inc., 2.100%, 06/15/2030 | 4,206,404 | 0.1 | |||||||
| 3,874,000 | Intercontinental Exchange, Inc., 3.625%, 09/01/2028 | 3,786,767 | 0.1 | |||||||
| 2,548,000 | Invitation Homes Operating Partnership L.P., 2.000%, 08/15/2031 | 2,142,466 | 0.0 | |||||||
| 5,183,000 | Invitation Homes Operating Partnership L.P., 2.300%, 11/15/2028 | 4,751,920 | 0.1 | |||||||
| 1,910,000 | Invitation Homes Operating Partnership L.P., 4.875%, 02/01/2035 | 1,886,396 | 0.0 | |||||||
| 4,994,000 | Jones Lang LaSalle, Inc., 6.875%, 12/01/2028 | 5,418,930 | 0.1 | |||||||
| 3,211,000 (3) | JPMorgan Chase & Co., 1.040%, 02/04/2027 | 3,070,575 | 0.0 | |||||||
| 3,179,000 (3) | JPMorgan Chase & Co., 1.470%, 09/22/2027 | 3,012,310 | 0.0 | |||||||
| 6,974,000 (3) | JPMorgan Chase & Co., 1.578%, 04/22/2027 | 6,683,091 | 0.1 | |||||||
| 7,717,000 (3) | JPMorgan Chase & Co., 2.069%, 06/01/2029 | 7,141,777 | 0.1 | |||||||
| 2,799,000 (3) | JPMorgan Chase & Co., 2.083%, 04/22/2026 | 2,754,872 | 0.0 | |||||||
| 3,493,000 (3) | JPMorgan Chase & Co., 2.182%, 06/01/2028 | 3,312,943 | 0.0 | |||||||
| 1,413,000 (3) | JPMorgan Chase & Co., 2.595%, 02/24/2026 | 1,399,241 | 0.0 | |||||||
| 5,976,000 (3) | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 5,796,771 | 0.1 | |||||||
| 1,171,000 (3) | JPMorgan Chase & Co., 3.509%, 01/23/2029 | 1,143,830 | 0.0 | |||||||
| 2,548,000 (3) | JPMorgan Chase & Co., 3.702%, 05/06/2030 | 2,478,898 | 0.0 | |||||||
| 4,307,000 (3) | JPMorgan Chase & Co., 4.452%, 12/05/2029 | 4,327,897 | 0.1 | |||||||
| 2,885,000 (3) | JPMorgan Chase & Co., 4.995%, 07/22/2030 | 2,967,119 | 0.0 | |||||||
| 1,139,000 (3) | JPMorgan Chase & Co., 5.012%, 01/23/2030 | 1,168,414 | 0.0 | |||||||
| 3,817,000 (3) | JPMorgan Chase & Co., 5.294%, 07/22/2035 | 3,982,400 | 0.1 | |||||||
| 4,470,000 (3) | JPMorgan Chase & Co., 5.336%, 01/23/2035 | 4,673,978 | 0.1 | |||||||
| 2,548,000 (3) | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 2,627,504 | 0.0 | |||||||
| 2,548,000 (3) | JPMorgan Chase & Co., 5.581%, 04/22/2030 | 2,674,925 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
79
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 4,104,000 (3) | JPMorgan Chase & Co., 5.766%, 04/22/2035 | $ | 4,424,178 | 0.1 | ||||||
| 1,658,000 (3) | KeyCorp, MTN, 4.789%, 06/01/2033 | 1,623,997 | 0.0 | |||||||
| 1,188,000 | Kite Realty Group L.P., 4.000%, 10/01/2026 | 1,172,701 | 0.0 | |||||||
| 4,890,000 (1)(2) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 4,779,891 | 0.1 | |||||||
| 4,294,000 (2)(3) | Lloyds Banking Group PLC, 8.000%, 12/31/2199 | 4,611,185 | 0.1 | |||||||
| 2,427,000 | LPL Holdings, Inc., 5.700%, 05/20/2027 | 2,481,193 | 0.0 | |||||||
| 3,429,000 (1) | Lseg US Fin Corp., 4.875%, 03/28/2027 | 3,482,217 | 0.0 | |||||||
| 3,900,000 (1) | Lseg US Fin Corp., 5.297%, 03/28/2034 | 4,088,093 | 0.1 | |||||||
| 2,285,000 | Mid-America Apartments L.P., 5.300%, 02/15/2032 | 2,378,571 | 0.0 | |||||||
| 1,426,000 (3) | Mitsubishi UFJ Financial Group, Inc., 5.258%, 04/17/2030 | 1,475,288 | 0.0 | |||||||
| 3,120,000 (3) | Mizuho Financial Group, Inc., 5.594%, 07/10/2035 | 3,292,904 | 0.0 | |||||||
| 3,662,000 (3) | Morgan Stanley, 1.593%, 05/04/2027 | 3,505,287 | 0.0 | |||||||
| 2,198,000 (3) | Morgan Stanley, 2.188%, 04/28/2026 | 2,164,032 | 0.0 | |||||||
| 2,238,000 (3) | Morgan Stanley, 2.475%, 01/21/2028 | 2,149,845 | 0.0 | |||||||
| 2,124,000 (3) | Morgan Stanley, 2.484%, 09/16/2036 | 1,777,921 | 0.0 | |||||||
| 1,589,000 (3) | Morgan Stanley, 3.591%, 07/22/2028 | 1,557,216 | 0.0 | |||||||
| 1,960,000 (3) | Morgan Stanley, 4.457%, 04/22/2039 | 1,879,720 | 0.0 | |||||||
| 2,815,000 (3) | Morgan Stanley, 5.042%, 07/19/2030 | 2,893,449 | 0.0 | |||||||
| 3,908,000 (3) | Morgan Stanley, 5.320%, 07/19/2035 | 4,059,704 | 0.1 | |||||||
| 1,816,000 (3) | Morgan Stanley, 5.466%, 01/18/2035 | 1,899,486 | 0.0 | |||||||
| 1,815,000 (3) | Morgan Stanley, 5.831%, 04/19/2035 | 1,950,293 | 0.0 | |||||||
| 3,192,000 (3) | Morgan Stanley, 5.942%, 02/07/2039 | 3,352,652 | 0.0 | |||||||
| 1,356,000 (3) | Morgan Stanley, 5.948%, 01/19/2038 | 1,422,005 | 0.0 | |||||||
| 7,434,000 (3) | Morgan Stanley, 6.296%, 10/18/2028 | 7,861,021 | 0.1 | |||||||
| 10,277,000 (3) | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 9,776,144 | 0.1 | |||||||
| 2,538,000 | Morgan Stanley, GMTN, 3.875%, 01/27/2026 | 2,527,645 | 0.0 | |||||||
| 1,595,000 | Morgan Stanley, MTN, 3.125%, 07/27/2026 | 1,567,345 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 6,368,000 (3) | Morgan Stanley, MTN, 5.164%, 04/20/2029 | $ | 6,547,403 | 0.1 | ||||||
| 2,109,000 (3) | Morgan Stanley, MTN, 5.250%, 04/21/2034 | 2,178,975 | 0.0 | |||||||
| 5,135,000 | MPT Operating Partnership L.P. / MPT Finance Corp., 3.500%, 03/15/2031 | 3,754,258 | 0.1 | |||||||
| 4,095,000 (1) | National Australia Bank Ltd., 2.990%, 05/21/2031 | 3,644,437 | 0.0 | |||||||
| 4,401,000 | National Bank of Canada, 5.600%, 12/18/2028 | 4,602,323 | 0.1 | |||||||
| 4,535,000 (1) | Nationstar Mortgage Holdings, Inc., 5.125%, 12/15/2030 | 4,354,099 | 0.1 | |||||||
| 3,900,000 (1) | Nationstar Mortgage Holdings, Inc., 6.500%, 08/01/2029 | 3,968,886 | 0.1 | |||||||
| 3,083,000 (3) | NatWest Group PLC, 5.076%, 01/27/2030 | 3,141,421 | 0.0 | |||||||
| 4,349,000 (2)(3) | NatWest Group PLC, 5.778%, 03/01/2035 | 4,626,603 | 0.1 | |||||||
| 5,686,000 (1) | NatWest Markets PLC, 5.410%, 05/17/2029 | 5,915,703 | 0.1 | |||||||
| 8,240,000 (1) | Nuveen LLC, 5.550%, 01/15/2030 | 8,631,255 | 0.1 | |||||||
| 4,921,000 | Old Republic International Corp., 5.750%, 03/28/2034 | 5,164,326 | 0.1 | |||||||
| 2,995,000 | ORIX Corp., 4.650%, 09/10/2029 | 3,020,966 | 0.0 | |||||||
| 5,845,000 (1) | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 6,135,461 | 0.1 | |||||||
| 1,701,000 | Piedmont Operating Partnership L.P., 2.750%, 04/01/2032 | 1,380,546 | 0.0 | |||||||
| 6,423,000 (3) | PNC Financial Services Group, Inc., 5.401%, 07/23/2035 | 6,700,466 | 0.1 | |||||||
| 6,102,000 (3) | PNC Financial Services Group, Inc., 5.492%, 05/14/2030 | 6,377,888 | 0.1 | |||||||
| 2,129,000 (3) | PNC Financial Services Group, Inc., 6.037%, 10/28/2033 | 2,301,609 | 0.0 | |||||||
| 1,908,000 (3) | PNC Financial Services Group, Inc. W, 6.250%, 12/31/2199 | 1,942,329 | 0.0 | |||||||
| 289,000 | Prologis L.P., 5.250%, 03/15/2054 | 293,824 | 0.0 | |||||||
| 4,614,000 (1) | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | 4,754,163 | 0.1 | |||||||
| 1,343,000 (1) | Prologis Targeted US Logistics Fund L.P., 5.500%, 04/01/2034 | 1,407,075 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
80
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 670,000 | Realty Income Corp., 3.950%, 08/15/2027 | $ | 666,092 | 0.0 | ||||||
| 2,975,000 | Realty Income Corp., 5.125%, 02/15/2034 | 3,043,529 | 0.0 | |||||||
| 5,623,000 (3) | Regions Financial Corp., 5.502%, 09/06/2035 | 5,724,318 | 0.1 | |||||||
| 6,457,000 (3) | Regions Financial Corp., 5.722%, 06/06/2030 | 6,691,248 | 0.1 | |||||||
| 8,558,000 | Rexford Industrial Realty L.P., 2.150%, 09/01/2031 | 7,216,667 | 0.1 | |||||||
| 950,000 (1) | RGA Global Funding, 5.448%, 05/24/2029 | 989,536 | 0.0 | |||||||
| 2,455,000 (3) | Royal Bank of Canada, GMTN, 4.969%, 08/02/2030 | 2,518,942 | 0.0 | |||||||
| 1,440,000 | Sabra Health Care L.P., 3.200%, 12/01/2031 | 1,268,144 | 0.0 | |||||||
| 2,845,000 (3) | Santander UK Group Holdings PLC, 2.469%, 01/11/2028 | 2,710,613 | 0.0 | |||||||
| 3,083,000 (3) | State Street Corp., 5.684%, 11/21/2029 | 3,254,702 | 0.0 | |||||||
| 8,611,000 (3) | State Street Corp., 6.123%, 11/21/2034 | 9,407,060 | 0.1 | |||||||
| 1,758,000 (3) | State Street Corp. J, 6.700%, 12/31/2199 | 1,824,456 | 0.0 | |||||||
| 1,486,000 | Sumitomo Mitsui Financial Group, Inc., 5.316%, 07/09/2029 | 1,547,064 | 0.0 | |||||||
| 7,450,000 | Sumitomo Mitsui Financial Group, Inc., 5.424%, 07/09/2031 | 7,823,080 | 0.1 | |||||||
| 4,995,000 (1) | Sumitomo Mitsui Trust Bank Ltd., 4.850%, 09/10/2034 | 5,049,518 | 0.1 | |||||||
| 2,347,000 | Sun Communities Operating L.P., 5.500%, 01/15/2029 | 2,417,513 | 0.0 | |||||||
| 6,000,000 (1)(3) | Swiss RE Subordinated Finance PLC, 5.698%, 04/05/2035 | 6,212,358 | 0.1 | |||||||
| 459,000 (1) | Teachers Insurance & Annuity Association of America, 3.300%, 05/15/2050 | 336,120 | 0.0 | |||||||
| 1,277,000 (3) | Truist Financial Corp., MTN, 1.267%, 03/02/2027 | 1,217,979 | 0.0 | |||||||
| 3,936,000 (3) | Truist Financial Corp., MTN, 4.916%, 07/28/2033 | 3,861,069 | 0.1 | |||||||
| 1,357,000 (3) | Truist Financial Corp., MTN, 5.122%, 01/26/2034 | 1,372,385 | 0.0 | |||||||
| 7,611,000 (3) | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 7,879,576 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 6,961,000 (3) | Truist Financial Corp., MTN, 5.867%, 06/08/2034 | $ | 7,402,902 | 0.1 | ||||||
| 3,556,000 (1)(3) | UBS Group AG, 1.364%, 01/30/2027 | 3,404,723 | 0.0 | |||||||
| 1,175,000 (1)(3) | UBS Group AG, 1.494%, 08/10/2027 | 1,110,673 | 0.0 | |||||||
| 2,972,000 (1)(3) | UBS Group AG, 2.193%, 06/05/2026 | 2,918,008 | 0.0 | |||||||
| 3,423,000 (1)(3) | UBS Group AG, 5.379%, 09/06/2045 | 3,503,949 | 0.0 | |||||||
| 1,311,000 (1)(3) | UBS Group AG, 6.301%, 09/22/2034 | 1,439,479 | 0.0 | |||||||
| 677,000 (1)(3) | UBS Group AG, 9.250%, 12/31/2199 | 800,102 | 0.0 | |||||||
| 2,510,000 (1)(3) | UBS Group AG, 9.250%, 12/31/2199 | 2,781,334 | 0.0 | |||||||
| 2,582,000 (3) | US Bancorp, 5.384%, 01/23/2030 | 2,682,027 | 0.0 | |||||||
| 2,724,000 (3) | Wells Fargo & Co., 5.389%, 04/24/2034 | 2,826,662 | 0.0 | |||||||
| 2,763,000 (3) | Wells Fargo & Co., MTN, 2.164%, 02/11/2026 | 2,733,241 | 0.0 | |||||||
| 2,717,000 (3) | Wells Fargo & Co., MTN, 3.526%, 03/24/2028 | 2,666,114 | 0.0 | |||||||
| 2,126,000 (3) | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 | 2,085,095 | 0.0 | |||||||
| 2,724,000 (3) | Wells Fargo & Co., MTN, 4.540%, 08/15/2026 | 2,719,908 | 0.0 | |||||||
| 3,714,000 (1) | Westpac New Zealand Ltd., 5.132%, 02/26/2027 | 3,795,389 | 0.1 | |||||||
| 1,289,000 | Weyerhaeuser Co., 4.750%, 05/15/2026 | 1,297,754 | 0.0 | |||||||
| 1,519,000 | Willis North America, Inc., 5.900%, 03/05/2054 | 1,595,508 | 0.0 | |||||||
| 4,405,000 (1) | XHR LP, 4.875%, 06/01/2029 | 4,225,975 | 0.1 | |||||||
| 888,678,111 | 9.5 | |||||||||
| Industrial: 2.5% | ||||||||||
| 2,598,000 | AGCO Corp., 5.450%, 03/21/2027 | 2,652,481 | 0.0 | |||||||
| 1,602,000 | Amcor Group Finance PLC, 5.450%, 05/23/2029 | 1,662,037 | 0.0 | |||||||
| 4,985,000 | Arrow Electronics, Inc., 5.150%, 08/21/2029 | 5,064,861 | 0.1 | |||||||
| 2,066,000 | Avnet, Inc., 5.500%, 06/01/2032 | 2,093,467 | 0.0 | |||||||
| 2,410,000 | Avnet, Inc., 6.250%, 03/15/2028 | 2,534,702 | 0.0 | |||||||
| 4,458,000 (1) | BAE Systems PLC, 5.125%, 03/26/2029 | 4,589,005 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
81
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 1,180,000 (1) | BAE Systems PLC, 5.250%, 03/26/2031 | $ | 1,226,985 | 0.0 | ||||||
| 4,153,000 (2) | Berry Global, Inc., 1.650%, 01/15/2027 | 3,900,130 | 0.1 | |||||||
| 1,300,000 | Boeing Co., 5.705%, 05/01/2040 | 1,269,243 | 0.0 | |||||||
| 426,000 (1) | Boeing Co., 6.858%, 05/01/2054 | 467,891 | 0.0 | |||||||
| 964,000 (1) | Boeing Co., 7.008%, 05/01/2064 | 1,062,872 | 0.0 | |||||||
| 2,995,000 (1) | Builders FirstSource, Inc., 6.375%, 03/01/2034 | 3,113,590 | 0.0 | |||||||
| 868,000 | Burlington Northern Santa Fe LLC, 3.900%, 08/01/2046 | 740,219 | 0.0 | |||||||
| 418,000 | Burlington Northern Santa Fe LLC, 5.200%, 04/15/2054 | 432,703 | 0.0 | |||||||
| 2,667,000 | Burlington Northern Santa Fe LLC, 5.500%, 03/15/2055 | 2,879,268 | 0.0 | |||||||
| 1,637,000 | Canadian Pacific Railway Co., 2.875%, 11/15/2029 | 1,538,579 | 0.0 | |||||||
| 726,000 | Carrier Global Corp., 2.722%, 02/15/2030 | 671,398 | 0.0 | |||||||
| 839,000 | Carrier Global Corp., 5.900%, 03/15/2034 | 916,275 | 0.0 | |||||||
| 4,110,000 (1) | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 4,022,080 | 0.1 | |||||||
| 2,490,000 | Caterpillar Financial Services Corp., 4.375%, 08/16/2029 | 2,528,190 | 0.0 | |||||||
| 4,250,000 (2)(3) | Cemex SAB de CV, 5.125%, 12/31/2199 | 4,193,687 | 0.1 | |||||||
| 1,294,000 (1) | CIMIC Finance USA Pty Ltd., 7.000%, 03/25/2034 | 1,389,760 | 0.0 | |||||||
| 4,407,000 | CNH Industrial Capital LLC, 5.100%, 04/20/2029 | 4,538,194 | 0.1 | |||||||
| 4,269,000 | CNH Industrial Capital LLC, 5.500%, 01/12/2029 | 4,458,498 | 0.1 | |||||||
| 3,300,000 | CRH SMW Finance DAC, 5.200%, 05/21/2029 | 3,415,875 | 0.0 | |||||||
| 3,910,000 (1) | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 4,036,469 | 0.1 | |||||||
| 4,545,000 (1)(2) | Energizer Holdings, Inc., 4.375%, 03/31/2029 | 4,308,660 | 0.1 | |||||||
| 491,000 | FedEx Corp., 3.875%, 08/01/2042 | 410,237 | 0.0 | |||||||
| 796,000 | FedEx Corp., 4.100%, 02/01/2045 | 670,451 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 428,000 | FedEx Corp., 4.400%, 01/15/2047 | $ | 374,079 | 0.0 | ||||||
| 1,462,000 | FedEx Corp., 4.550%, 04/01/2046 | 1,304,642 | 0.0 | |||||||
| 2,181,454 | FedEx Corp. Class AA Pass Through Trust 20-1, AA, 1.875%, 08/20/2035 | 1,901,543 | 0.0 | |||||||
| 4,985,000 | Flex Ltd., 5.250%, 01/15/2032 | 5,038,913 | 0.1 | |||||||
| 2,548,000 | Fortune Brands Innovations, Inc., 3.250%, 09/15/2029 | 2,407,178 | 0.0 | |||||||
| 1,684,000 (2) | Fortune Brands Innovations, Inc., 5.875%, 06/01/2033 | 1,808,599 | 0.0 | |||||||
| 2,548,000 | GATX Corp., 4.000%, 06/30/2030 | 2,477,951 | 0.0 | |||||||
| 591,000 | GATX Corp., 6.050%, 06/05/2054 | 639,577 | 0.0 | |||||||
| 4,453,000 | HEICO Corp., 5.250%, 08/01/2028 | 4,599,235 | 0.1 | |||||||
| 5,096,000 | Honeywell International, Inc., 4.750%, 02/01/2032 | 5,245,397 | 0.1 | |||||||
| 1,916,000 | Honeywell International, Inc., 5.000%, 03/01/2035 | 1,995,176 | 0.0 | |||||||
| 1,511,000 | Honeywell International, Inc., 5.250%, 03/01/2054 | 1,577,109 | 0.0 | |||||||
| 2,548,000 | Huntington Ingalls Industries, Inc., 4.200%, 05/01/2030 | 2,506,821 | 0.0 | |||||||
| 3,900,000 (1) | Imola Merger Corp., 4.750%, 05/15/2029 | 3,808,959 | 0.1 | |||||||
| 1,264,000 | Ingersoll Rand, Inc., 5.176%, 06/15/2029 | 1,308,145 | 0.0 | |||||||
| 1,492,000 | Ingersoll Rand, Inc., 5.400%, 08/14/2028 | 1,555,723 | 0.0 | |||||||
| 1,085,000 (2) | Ingersoll Rand, Inc., 5.450%, 06/15/2034 | 1,142,287 | 0.0 | |||||||
| 634,000 | Ingersoll Rand, Inc., 5.700%, 08/14/2033 | 679,513 | 0.0 | |||||||
| 3,845,000 | John Deere Capital Corp., 4.400%, 09/08/2031 | 3,873,308 | 0.1 | |||||||
| 6,989,000 | John Deere Capital Corp., MTN, 4.700%, 06/10/2030 | 7,203,337 | 0.1 | |||||||
| 2,972,000 | John Deere Capital Corp., MTN, 4.850%, 06/11/2029 | 3,070,880 | 0.0 | |||||||
| 5,507,000 | John Deere Capital Corp., MTN, 4.900%, 03/07/2031 | 5,714,142 | 0.1 | |||||||
| 2,283,000 | L3Harris Technologies, Inc., 5.050%, 06/01/2029 | 2,352,693 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
82
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 816,000 | Lockheed Martin Corp., 4.150%, 06/15/2053 | $ | 720,182 | 0.0 | ||||||
| 702,000 | Lockheed Martin Corp., 5.200%, 02/15/2064 | 727,712 | 0.0 | |||||||
| 1,743,000 (2) | Mohawk Industries, Inc., 5.850%, 09/18/2028 | 1,839,025 | 0.0 | |||||||
| 3,600,000 | Nordson Corp., 4.500%, 12/15/2029 | 3,615,774 | 0.0 | |||||||
| 358,000 | Norfolk Southern Corp., 5.050%, 08/01/2030 | 372,855 | 0.0 | |||||||
| 1,337,000 | Norfolk Southern Corp., 5.550%, 03/15/2034 | 1,435,195 | 0.0 | |||||||
| 1,339,000 | Norfolk Southern Corp., 5.950%, 03/15/2064 | 1,485,066 | 0.0 | |||||||
| 3,900,000 (1)(2) | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 4,011,470 | 0.1 | |||||||
| 3,339,000 (1) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 1.200%, 11/15/2025 | 3,215,818 | 0.0 | |||||||
| 4,543,000 (1) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 1.700%, 06/15/2026 | 4,337,144 | 0.1 | |||||||
| 5,559,000 (1) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.250%, 07/01/2029 | 5,727,396 | 0.1 | |||||||
| 8,023,000 (1)(2) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 8,289,710 | 0.1 | |||||||
| 1,237,000 (1) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 6.200%, 06/15/2030 | 1,336,141 | 0.0 | |||||||
| 3,158,000 | Raytheon Technologies Corp., 4.450%, 11/16/2038 | 3,010,172 | 0.0 | |||||||
| 2,167,000 | Raytheon Technologies Corp., 4.500%, 06/01/2042 | 2,017,091 | 0.0 | |||||||
| 2,482,000 | Ryder System, Inc., 6.600%, 12/01/2033 | 2,771,293 | 0.0 | |||||||
| 2,315,000 | Ryder System, Inc., GMTN, 4.950%, 09/01/2029 | 2,361,770 | 0.0 | |||||||
| 2,279,000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 2,353,225 | 0.0 | |||||||
| 436,000 | Ryder System, Inc., MTN, 5.375%, 03/15/2029 | 452,815 | 0.0 | |||||||
| 3,121,000 | Ryder System, Inc., MTN, 5.500%, 06/01/2029 | 3,256,313 | 0.0 | |||||||
| 2,986,000 (1) | Sealed Air Corp., 1.573%, 10/15/2026 | 2,804,370 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 3,900,000 (1)(2) | Sealed Air Corp/Sealed Air Corp. US, 7.250%, 02/15/2031 | $ | 4,132,588 | 0.1 | ||||||
| 1,200,000 (1) | Sensata Technologies, Inc., 6.625%, 07/15/2032 | 1,252,106 | 0.0 | |||||||
| 5,944,000 (1) | Smurfit Kappa Treasury ULC, 5.200%, 01/15/2030 | 6,147,230 | 0.1 | |||||||
| 2,632,000 (1) | Smurfit Kappa Treasury ULC, 5.438%, 04/03/2034 | 2,746,366 | 0.0 | |||||||
| 847,000 (1) | Smurfit Kappa Treasury ULC, 5.777%, 04/03/2054 | 909,775 | 0.0 | |||||||
| 2,530,000 | Sonoco Products Co., 4.600%, 09/01/2029 | 2,518,479 | 0.0 | |||||||
| 3,850,000 (1)(2) | Standard Industries, Inc., 3.375%, 01/15/2031 | 3,433,176 | 0.0 | |||||||
| 4,925,000 (1) | Standard Industries, Inc., 4.375%, 07/15/2030 | 4,665,121 | 0.1 | |||||||
| 4,050,000 (1) | Summit Materials LLC / Summit Materials Finance Corp., 7.250%, 01/15/2031 | 4,294,110 | 0.1 | |||||||
| 2,270,000 (1) | TransDigm, Inc., 6.000%, 01/15/2033 | 2,303,857 | 0.0 | |||||||
| 7,800,000 (1) | TransDigm, Inc., 7.125%, 12/01/2031 | 8,259,509 | 0.1 | |||||||
| 252,000 (1) | TTX Co., 4.200%, 07/01/2046 | 223,594 | 0.0 | |||||||
| 193,000 | Union Pacific Corp., 4.050%, 11/15/2045 | 168,764 | 0.0 | |||||||
| 2,352,000 | United Parcel Service, Inc., 5.500%, 05/22/2054 | 2,511,285 | 0.0 | |||||||
| 2,548,000 | Westinghouse Air Brake Technologies Corp., 4.700%, 09/15/2028 | 2,581,037 | 0.0 | |||||||
| 235,660,548 | 2.5 | |||||||||
| Technology: 1.8% | ||||||||||
| 4,481,000 (1) | Booz Allen Hamilton, Inc., 3.875%, 09/01/2028 | 4,349,256 | 0.1 | |||||||
| 4,630,000 (1) | Booz Allen Hamilton, Inc., 4.000%, 07/01/2029 | 4,507,815 | 0.1 | |||||||
| 5,806,000 (1) | Broadcom, Inc., 2.450%, 02/15/2031 | 5,146,817 | 0.1 | |||||||
| 7,340,000 (1) | Broadcom, Inc., 3.187%, 11/15/2036 | 6,223,944 | 0.1 | |||||||
| 4,082,000 | Broadcom, Inc., 4.800%, 10/15/2034 | 4,080,220 | 0.1 | |||||||
| 10,485,000 (1) | Broadcom, Inc., 4.926%, 05/15/2037 | 10,480,809 | 0.1 | |||||||
| 2,574,000 | Broadcom, Inc., 5.150%, 11/15/2031 | 2,672,289 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
83
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 3,865,000 | Cadence Design Systems, Inc., 4.300%, 09/10/2029 | $ | 3,881,303 | 0.0 | ||||||
| 2,490,000 | CDW LLC / CDW Finance Corp., 5.100%, 03/01/2030 | 2,525,766 | 0.0 | |||||||
| 4,526,000 (2) | Concentrix Corp., 6.600%, 08/02/2028 | 4,723,784 | 0.1 | |||||||
| 5,867,000 (2) | Concentrix Corp., 6.850%, 08/02/2033 | 6,080,468 | 0.1 | |||||||
| 3,196,000 (1) | Constellation Software, Inc./Canada, 5.158%, 02/16/2029 | 3,297,195 | 0.0 | |||||||
| 736,000 | Dell International LLC / EMC Corp., 6.020%, 06/15/2026 | 753,966 | 0.0 | |||||||
| 445,000 | Fiserv, Inc., 4.400%, 07/01/2049 | 393,681 | 0.0 | |||||||
| 3,310,000 | Fiserv, Inc., 5.150%, 03/15/2027 | 3,385,071 | 0.0 | |||||||
| 1,860,000 | Fiserv, Inc., 5.150%, 08/12/2034 | 1,908,268 | 0.0 | |||||||
| 1,345,000 (1) | Foundry JV Holdco LLC, 5.875%, 01/25/2034 | 1,371,687 | 0.0 | |||||||
| 1,750,000 (1) | Foundry JV Holdco LLC, 5.900%, 01/25/2030 | 1,812,515 | 0.0 | |||||||
| 5,432,000 | Hewlett Packard Enterprise Co., 4.850%, 10/15/2031 | 5,422,494 | 0.1 | |||||||
| 5,417,000 | Hewlett Packard Enterprise Co., 5.000%, 10/15/2034 | 5,365,143 | 0.1 | |||||||
| 4,877,000 | Hewlett Packard Enterprise Co., 5.600%, 10/15/2054 | 4,791,280 | 0.1 | |||||||
| 2,585,000 | HP, Inc., 2.650%, 06/17/2031 | 2,286,757 | 0.0 | |||||||
| 4,513,000 | IBM International Capital Pte Ltd., 4.750%, 02/05/2031 | 4,627,449 | 0.1 | |||||||
| 907,000 | IBM International Capital Pte Ltd., 5.250%, 02/05/2044 | 924,132 | 0.0 | |||||||
| 691,000 | IBM International Capital Pte Ltd., 5.300%, 02/05/2054 | 700,116 | 0.0 | |||||||
| 1,440,000 (1) | Insight Enterprises, Inc., 6.625%, 05/15/2032 | 1,504,302 | 0.0 | |||||||
| 596,000 | Intel Corp., 5.600%, 02/21/2054 | 581,291 | 0.0 | |||||||
| 636,000 | Intel Corp., 5.700%, 02/10/2053 | 627,007 | 0.0 | |||||||
| 1,400,000 | International Business Machines Corp., 3.500%, 05/15/2029 | 1,361,203 | 0.0 | |||||||
| 1,871,000 (2) | Intuit, Inc., 5.125%, 09/15/2028 | 1,950,562 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 4,969,000 | Intuit, Inc., 5.500%, 09/15/2053 | $ | 5,344,711 | 0.1 | ||||||
| 2,458,000 | KLA Corp., 4.950%, 07/15/2052 | 2,444,209 | 0.0 | |||||||
| 684,000 | KLA Corp., 5.250%, 07/15/2062 | 704,639 | 0.0 | |||||||
| 2,548,000 | Kyndryl Holdings, Inc., 2.700%, 10/15/2028 | 2,361,663 | 0.0 | |||||||
| 2,079,000 | Marvell Technology, Inc., 5.750%, 02/15/2029 | 2,182,349 | 0.0 | |||||||
| 346,000 | Microsoft Corp., 2.500%, 09/15/2050 | 234,741 | 0.0 | |||||||
| 5,464,000 (1) | MSCI, Inc., 3.625%, 09/01/2030 | 5,144,953 | 0.1 | |||||||
| 4,184,000 | NXP BV / NXP Funding LLC, 5.350%, 03/01/2026 | 4,230,150 | 0.1 | |||||||
| 547,000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 3.250%, 05/11/2041 | 426,045 | 0.0 | |||||||
| 1,754,000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 3.400%, 05/01/2030 | 1,660,003 | 0.0 | |||||||
| 4,775,000 (1)(2) | Open Text Holdings, Inc., 4.125%, 12/01/2031 | 4,392,375 | 0.1 | |||||||
| 6,018,000 | Oracle Corp., 2.300%, 03/25/2028 | 5,653,456 | 0.1 | |||||||
| 779,000 | Oracle Corp., 3.600%, 04/01/2050 | 593,569 | 0.0 | |||||||
| 825,000 | Oracle Corp., 3.650%, 03/25/2041 | 682,501 | 0.0 | |||||||
| 3,952,000 | Oracle Corp., 3.800%, 11/15/2037 | 3,498,429 | 0.0 | |||||||
| 238,000 | Oracle Corp., 3.850%, 07/15/2036 | 215,335 | 0.0 | |||||||
| 502,000 | Oracle Corp., 3.850%, 04/01/2060 | 378,324 | 0.0 | |||||||
| 799,000 | Oracle Corp., 3.950%, 03/25/2051 | 643,521 | 0.0 | |||||||
| 2,720,000 | Oracle Corp., 4.700%, 09/27/2034 | 2,713,967 | 0.0 | |||||||
| 3,810,000 | Oracle Corp., 5.375%, 09/27/2054 | 3,810,494 | 0.0 | |||||||
| 2,178,000 | Oracle Corp., 5.500%, 09/27/2064 | 2,171,374 | 0.0 | |||||||
| 2,750,000 | Oracle Corp., 6.150%, 11/09/2029 | 2,976,000 | 0.0 | |||||||
| 4,205,000 | QUALCOMM, Inc., 6.000%, 05/20/2053 | 4,768,865 | 0.1 | |||||||
| 2,799,900 | Seagate HDD Cayman, 9.625%, 12/01/2032 | 3,253,386 | 0.0 | |||||||
| 2,284,000 | Take-Two Interactive Software, Inc., 5.400%, 06/12/2029 | 2,367,582 | 0.0 | |||||||
| 2,548,000 | Teledyne FLIR LLC, 2.500%, 08/01/2030 | 2,277,982 | 0.0 | |||||||
| 1,140,000 | Texas Instruments, Inc., 5.050%, 05/18/2063 | 1,144,898 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
84
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 1,120,000 (1) | Zebra Technologies Corp., 6.500%, 06/01/2032 | $ | 1,170,252 | 0.0 | ||||||
| 165,182,363 | 1.8 | |||||||||
| Utilities: 3.4% | ||||||||||
| 3,388,000 (1) | AEP Texas, Inc., 3.850%, 10/01/2025 | 3,357,516 | 0.1 | |||||||
| 4,569,000 | AEP Texas, Inc., 5.450%, 05/15/2029 | 4,767,697 | 0.1 | |||||||
| 2,125,000 | AEP Transmission Co. LLC, 5.150%, 04/01/2034 | 2,203,317 | 0.0 | |||||||
| 2,649,000 | AES Corp., 1.375%, 01/15/2026 | 2,542,886 | 0.0 | |||||||
| 3,817,000 | AES Corp., 2.450%, 01/15/2031 | 3,307,315 | 0.1 | |||||||
| 2,505,000 (1) | AES Corp., 3.950%, 07/15/2030 | 2,395,243 | 0.0 | |||||||
| 2,816,000 | AES Corp., 5.450%, 06/01/2028 | 2,900,106 | 0.0 | |||||||
| 2,509,340 | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | 2,274,014 | 0.0 | |||||||
| 1,504,000 | Alabama Power Co., 5.850%, 11/15/2033 | 1,640,681 | 0.0 | |||||||
| 2,280,000 (3) | Algonquin Power & Utilities Corp., 5.365%, 06/15/2026 | 2,308,594 | 0.0 | |||||||
| 3,554,000 | Ameren Corp., 5.000%, 01/15/2029 | 3,640,302 | 0.1 | |||||||
| 2,236,000 (1) | American Transmission Systems, Inc., 2.650%, 01/15/2032 | 1,965,863 | 0.0 | |||||||
| 1,154,000 (1) | American Transmission Systems, Inc., 5.000%, 09/01/2044 | 1,144,734 | 0.0 | |||||||
| 1,934,000 (2) | American Water Capital Corp., 5.150%, 03/01/2034 | 2,018,033 | 0.0 | |||||||
| 1,488,000 | American Water Capital Corp., 5.450%, 03/01/2054 | 1,564,506 | 0.0 | |||||||
| 9,023,000 | Avangrid, Inc., 3.200%, 04/15/2025 | 8,932,398 | 0.1 | |||||||
| 2,348,000 | Avangrid, Inc., 3.800%, 06/01/2029 | 2,284,648 | 0.0 | |||||||
| 2,065,000 | Black Hills Corp., 3.050%, 10/15/2029 | 1,925,659 | 0.0 | |||||||
| 1,510,000 | Black Hills Corp., 6.000%, 01/15/2035 | 1,608,835 | 0.0 | |||||||
| 3,900,000 (1) | Calpine Corp., 5.000%, 02/01/2031 | 3,779,467 | 0.1 | |||||||
| 1,883,000 | CenterPoint Energy, Inc., 5.400%, 06/01/2029 | 1,955,906 | 0.0 | |||||||
| 1,999,000 (1) | Cleveland Electric Illuminating Co., 3.500%, 04/01/2028 | 1,931,527 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 1,470,000 (3) | CMS Energy Corp., 3.750%, 12/01/2050 | $ | 1,285,518 | 0.0 | ||||||
| 6,773,000 (3) | CMS Energy Corp., 4.750%, 06/01/2050 | 6,543,078 | 0.1 | |||||||
| 3,750,000 (1) | Comision Federal de Electricidad, 5.700%, 01/24/2030 | 3,767,625 | 0.1 | |||||||
| 5,075,000 (1) | Comision Federal de Electricidad, 6.450%, 01/24/2035 | 5,067,387 | 0.1 | |||||||
| 610,000 | Consolidated Edison Co. of New York, Inc., 4.625%, 12/01/2054 | 565,341 | 0.0 | |||||||
| 587,000 | Consolidated Edison Co. of New York, Inc. 05-A, 5.300%, 03/01/2035 | 615,719 | 0.0 | |||||||
| 1,390,000 | DTE Energy Co., 4.950%, 07/01/2027 | 1,413,745 | 0.0 | |||||||
| 7,381,000 | DTE Energy Co., 5.100%, 03/01/2029 | 7,603,511 | 0.1 | |||||||
| 1,195,000 | Duke Energy Carolinas LLC, 2.550%, 04/15/2031 | 1,074,871 | 0.0 | |||||||
| 165,000 | Duke Energy Carolinas LLC, 3.750%, 06/01/2045 | 136,532 | 0.0 | |||||||
| 431,000 | Duke Energy Carolinas LLC, 3.875%, 03/15/2046 | 359,114 | 0.0 | |||||||
| 662,000 | Duke Energy Carolinas LLC, 4.000%, 09/30/2042 | 579,058 | 0.0 | |||||||
| 730,000 | Duke Energy Carolinas LLC, 5.350%, 01/15/2053 | 754,348 | 0.0 | |||||||
| 3,295,000 (3) | Duke Energy Corp., 6.450%, 09/01/2054 | 3,429,436 | 0.1 | |||||||
| 3,231,000 | Duke Energy Florida LLC, 2.400%, 12/15/2031 | 2,833,738 | 0.0 | |||||||
| 1,205,000 | Duke Energy Florida LLC, 5.875%, 11/15/2033 | 1,319,266 | 0.0 | |||||||
| 445,000 | Duke Energy Indiana LLC, 2.750%, 04/01/2050 | 292,799 | 0.0 | |||||||
| 1,534,000 | Duke Energy Ohio, Inc., 2.125%, 06/01/2030 | 1,370,285 | 0.0 | |||||||
| 753,000 | Duke Energy Ohio, Inc., 3.700%, 06/15/2046 | 600,416 | 0.0 | |||||||
| 954,000 | Duke Energy Progress LLC, 3.700%, 10/15/2046 | 768,681 | 0.0 | |||||||
| 501,000 | Duke Energy Progress LLC, 4.100%, 05/15/2042 | 441,671 | 0.0 | |||||||
| 701,000 | Duke Energy Progress LLC, 4.200%, 08/15/2045 | 616,876 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
85
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 1,518,000 (1) | Duquesne Light Holdings, Inc., 2.532%, 10/01/2030 | $ | 1,338,227 | 0.0 | ||||||
| 654,000 | Entergy Arkansas LLC, 2.650%, 06/15/2051 | 419,138 | 0.0 | |||||||
| 507,000 | Entergy Arkansas LLC, 4.200%, 04/01/2049 | 435,943 | 0.0 | |||||||
| 2,187,000 | Entergy Corp., 2.400%, 06/15/2031 | 1,904,556 | 0.0 | |||||||
| 1,187,000 | Entergy Corp., 2.800%, 06/15/2030 | 1,085,140 | 0.0 | |||||||
| 709,000 (3) | Entergy Corp., 7.125%, 12/01/2054 | 736,891 | 0.0 | |||||||
| 889,000 | Entergy Louisiana LLC, 4.200%, 04/01/2050 | 756,530 | 0.0 | |||||||
| 2,421,000 | Entergy Mississippi LLC, 5.000%, 09/01/2033 | 2,476,192 | 0.0 | |||||||
| 2,005,000 | Entergy Texas, Inc., 4.000%, 03/30/2029 | 1,989,408 | 0.0 | |||||||
| 4,538,000 | Essential Utilities, Inc., 2.704%, 04/15/2030 | 4,160,655 | 0.1 | |||||||
| 1,540,000 | Essential Utilities, Inc., 5.375%, 01/15/2034 | 1,594,156 | 0.0 | |||||||
| 399,000 | Evergy Kansas Central, Inc., 3.250%, 09/01/2049 | 288,174 | 0.0 | |||||||
| 1,077,000 | Evergy Kansas Central, Inc., 5.900%, 11/15/2033 | 1,162,610 | 0.0 | |||||||
| 2,045,000 | Evergy Metro, Inc. 2020, 2.250%, 06/01/2030 | 1,829,490 | 0.0 | |||||||
| 2,548,000 | Eversource Energy, 2.550%, 03/15/2031 | 2,229,156 | 0.0 | |||||||
| 4,607,000 | Eversource Energy, 2.900%, 03/01/2027 | 4,459,299 | 0.1 | |||||||
| 1,639,000 | Eversource Energy, 5.125%, 05/15/2033 | 1,667,959 | 0.0 | |||||||
| 2,793,000 | Eversource Energy, 5.450%, 03/01/2028 | 2,896,471 | 0.0 | |||||||
| 1,912,000 | Eversource Energy, 5.500%, 01/01/2034 | 1,985,935 | 0.0 | |||||||
| 2,824,000 | Eversource Energy, 5.950%, 02/01/2029 | 2,989,990 | 0.0 | |||||||
| 2,716,000 | Eversource Energy Q, 0.800%, 08/15/2025 | 2,627,594 | 0.0 | |||||||
| 2,538,000 | Eversource Energy U, 1.400%, 08/15/2026 | 2,404,827 | 0.0 | |||||||
| 4,496,000 | Exelon Corp., 5.150%, 03/15/2028 | 4,621,392 | 0.1 | |||||||
| 3,703,000 | Exelon Corp., 5.150%, 03/15/2029 | 3,838,272 | 0.1 | |||||||
| 2,425,000 (1) | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.250%, 01/31/2041 | 2,525,031 | 0.0 | |||||||
| 3,470,000 | FirstEnergy Corp. B, 3.900%, 07/15/2027 | 3,436,332 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 1,810,000 | Florida Power & Light Co., 4.625%, 05/15/2030 | $ | 1,857,572 | 0.0 | ||||||
| 1,485,000 | Georgia Power Co., 4.650%, 05/16/2028 | 1,512,567 | 0.0 | |||||||
| 2,199,000 | IPALCO Enterprises, Inc., 4.250%, 05/01/2030 | 2,127,051 | 0.0 | |||||||
| 873,000 (1) | Jersey Central Power & Light Co., 2.750%, 03/01/2032 | 764,846 | 0.0 | |||||||
| 2,953,000 (1) | Jersey Central Power & Light Co., 4.300%, 01/15/2026 | 2,942,459 | 0.0 | |||||||
| 1,173,000 | Kentucky Utilities Co. KENT, 5.450%, 04/15/2033 | 1,238,674 | 0.0 | |||||||
| 2,548,000 (1) | Liberty Utilities Co., 5.577%, 01/31/2029 | 2,635,460 | 0.0 | |||||||
| 4,929,000 (1) | Liberty Utilities Co., 5.869%, 01/31/2034 | 5,169,280 | 0.1 | |||||||
| 3,900,000 (1) | Lightning Power LLC, 7.250%, 08/15/2032 | 4,104,348 | 0.1 | |||||||
| 1,173,000 | Louisville Gas and Electric Co. LOU, 5.450%, 04/15/2033 | 1,238,314 | 0.0 | |||||||
| 76,000 | Mississippi Power Co., 4.750%, 10/15/2041 | 70,234 | 0.0 | |||||||
| 1,273,000 | Mississippi Power Co. 12-A, 4.250%, 03/15/2042 | 1,128,972 | 0.0 | |||||||
| 2,271,000 (1) | Monongahela Power Co., 3.550%, 05/15/2027 | 2,230,012 | 0.0 | |||||||
| 2,633,000 (1) | Monongahela Power Co., 5.850%, 02/15/2034 | 2,823,997 | 0.0 | |||||||
| 2,753,000 (1) | Narragansett Electric Co., 3.395%, 04/09/2030 | 2,612,529 | 0.0 | |||||||
| 3,868,000 (2) | National Grid PLC, 5.418%, 01/11/2034 | 4,028,549 | 0.1 | |||||||
| 4,396,000 | National Rural Utilities Cooperative Finance Corp., 2.400%, 03/15/2030 | 3,993,235 | 0.1 | |||||||
| 3,050,000 | National Rural Utilities Cooperative Finance Corp., 2.750%, 04/15/2032 | 2,735,804 | 0.0 | |||||||
| 816,000 | National Rural Utilities Cooperative Finance Corp., 4.150%, 12/15/2032 | 800,728 | 0.0 | |||||||
| 4,180,000 | National Rural Utilities Cooperative Finance Corp., 5.000%, 08/15/2034 | 4,289,933 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
86
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 479,000 | National Rural Utilities Cooperative Finance Corp., 5.800%, 01/15/2033 | $ | 519,202 | 0.0 | ||||||
| 1,994,000 (3) | National Rural Utilities Cooperative Finance Corp., 8.427%, (TSFR3M + 3.172%), 04/30/2043 | 1,995,029 | 0.0 | |||||||
| 2,123,000 | National Rural Utilities Cooperative Finance Corp., GMTN, 5.000%, 02/07/2031 | 2,221,067 | 0.0 | |||||||
| 300,000 | Nevada Power Co., 6.000%, 03/15/2054 | 332,273 | 0.0 | |||||||
| 3,944,000 | NextEra Energy Capital Holdings, Inc., 1.875%, 01/15/2027 | 3,746,134 | 0.1 | |||||||
| 5,040,000 (3) | NextEra Energy Capital Holdings, Inc., 3.800%, 03/15/2082 | 4,825,748 | 0.1 | |||||||
| 4,300,000 (1) | Niagara Energy SAC, 5.746%, 10/03/2034 | 4,323,650 | 0.1 | |||||||
| 3,437,000 (1) | Niagara Mohawk Power Corp., 1.960%, 06/27/2030 | 3,015,379 | 0.0 | |||||||
| 892,000 (1) | Niagara Mohawk Power Corp., 5.664%, 01/17/2054 | 926,342 | 0.0 | |||||||
| 426,000 | Northern States Power Co., 5.650%, 06/15/2054 | 462,119 | 0.0 | |||||||
| 1,353,000 | NSTAR Electric Co., 1.950%, 08/15/2031 | 1,156,178 | 0.0 | |||||||
| 1,228,000 | NSTAR Electric Co., 5.400%, 06/01/2034 | 1,297,093 | 0.0 | |||||||
| 1,145,000 | OGE Energy Corp., 5.450%, 05/15/2029 | 1,193,133 | 0.0 | |||||||
| 931,000 (1) | Oncor Electric Delivery Co. LLC, 5.550%, 06/15/2054 | 991,721 | 0.0 | |||||||
| 1,520,000 | ONE Gas, Inc., 5.100%, 04/01/2029 | 1,575,344 | 0.0 | |||||||
| 1,171,000 | Pacific Gas and Electric Co., 4.300%, 03/15/2045 | 980,586 | 0.0 | |||||||
| 696,000 | Pacific Gas and Electric Co., 4.450%, 04/15/2042 | 606,472 | 0.0 | |||||||
| 2,283,000 (1) | Pennsylvania Electric Co., 5.150%, 03/30/2026 | 2,303,922 | 0.0 | |||||||
| 1,936,000 | Public Service Electric and Gas Co., MTN, 5.200%, 03/01/2034 | 2,032,590 | 0.0 | |||||||
| 2,667,000 | Public Service Enterprise Group, Inc., 0.800%, 08/15/2025 | 2,579,437 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 1,614,000 | Public Service Enterprise Group, Inc., 1.600%, 08/15/2030 | $ | 1,380,562 | 0.0 | ||||||
| 5,136,000 | Public Service Enterprise Group, Inc., 2.450%, 11/15/2031 | 4,504,154 | 0.1 | |||||||
| 6,843,000 | Public Service Enterprise Group, Inc., 5.200%, 04/01/2029 | 7,096,296 | 0.1 | |||||||
| 3,057,000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 | 3,203,035 | 0.0 | |||||||
| 5,415,000 (3) | Sempra, 6.400%, 10/01/2054 | 5,438,728 | 0.1 | |||||||
| 4,593,000 | South Jersey Industries, Inc., 5.020%, 04/15/2031 | 3,753,790 | 0.1 | |||||||
| 1,992,000 | Southern California Edison Co., 5.450%, 06/01/2031 | 2,108,624 | 0.0 | |||||||
| 3,166,000 | Southern Co., 5.113%, 08/01/2027 | 3,240,383 | 0.0 | |||||||
| 4,114,000 (3) | Southern Co. 21-A, 3.750%, 09/15/2051 | 3,989,120 | 0.1 | |||||||
| 4,085,000 | Southern Co. Gas Capital Corp., 4.950%, 09/15/2034 | 4,129,574 | 0.1 | |||||||
| 1,573,000 | Southwestern Electric Power Co., 5.300%, 04/01/2033 | 1,624,619 | 0.0 | |||||||
| 4,102,000 | Southwestern Electric Power Co. N, 1.650%, 03/15/2026 | 3,957,524 | 0.1 | |||||||
| 501,000 | Southwestern Public Service Co., 6.000%, 06/01/2054 | 548,728 | 0.0 | |||||||
| 478,000 | Tampa Electric Co., 4.350%, 05/15/2044 | 430,588 | 0.0 | |||||||
| 6,685,000 | Tucson Electric Power Co., 5.200%, 09/15/2034 | 6,843,327 | 0.1 | |||||||
| 8,850,000 (1) | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | 8,572,749 | 0.1 | |||||||
| 4,313,000 | WEC Energy Group, Inc., 1.375%, 10/15/2027 | 3,970,528 | 0.1 | |||||||
| 2,536,000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 | 2,342,611 | 0.0 | |||||||
| 856,000 | WEC Energy Group, Inc., 5.000%, 09/27/2025 | 859,804 | 0.0 | |||||||
| 1,197,000 | WEC Energy Group, Inc., 5.150%, 10/01/2027 | 1,229,182 | 0.0 | |||||||
| 1,384,000 (2) | Wisconsin Electric Power Co., 1.700%, 06/15/2028 | 1,271,823 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
87
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 1,990,000 | Wisconsin Power and Light Co., 5.375%, 03/30/2034 | $ | 2,084,246 | 0.0 | ||||||
| 1,003,000 | Wisconsin Public Service Corp., 3.671%, 12/01/2042 | 842,621 | 0.0 | |||||||
| 316,558,229 | 3.4 | |||||||||
| Total Corporate Bonds/Notes (Cost $2,699,227,368) | 2,735,590,013 | 29.2 | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: 20.8% | ||||||||||
| Federal Home Loan Mortgage Corporation: 1.4%(4) | ||||||||||
| 122,016 | 2.500%, 05/01/2030 | 117,926 | 0.0 | |||||||
| 249,934 | 2.500%, 05/01/2030 | 241,214 | 0.0 | |||||||
| 349,843 | 2.500%, 06/01/2030 | 338,044 | 0.0 | |||||||
| 668,632 | 3.000%, 11/01/2042 | 621,079 | 0.0 | |||||||
| 647,921 | 3.000%, 02/01/2043 | 601,841 | 0.0 | |||||||
| 663,579 | 3.000%, 03/01/2045 | 613,880 | 0.0 | |||||||
| 806,178 | 3.000%, 03/01/2045 | 747,642 | 0.0 | |||||||
| 2,136,995 | 3.000%, 04/01/2045 | 1,977,394 | 0.0 | |||||||
| 2,177,928 | 3.000%, 04/01/2045 | 2,017,077 | 0.0 | |||||||
| 954,466 | 3.000%, 10/01/2046 | 879,909 | 0.0 | |||||||
| 8,056,171 | 3.000%, 10/01/2046 | 7,403,546 | 0.1 | |||||||
| 3,062,419 | 3.000%, 03/01/2048 | 2,814,265 | 0.0 | |||||||
| 3,889,720 | 3.000%, 03/01/2048 | 3,580,368 | 0.1 | |||||||
| 9,949,836 | 3.000%, 08/01/2048 | 9,135,188 | 0.1 | |||||||
| 3,169,952 | 3.500%, 01/01/2045 | 3,026,174 | 0.0 | |||||||
| 1,106,674 | 3.500%, 03/01/2045 | 1,054,812 | 0.0 | |||||||
| 5,038,797 | 3.500%, 12/01/2046 | 4,788,983 | 0.1 | |||||||
| 8,678,636 | 3.500%, 12/01/2046 | 8,202,168 | 0.1 | |||||||
| 3,781,521 | 3.500%, 04/01/2047 | 3,618,271 | 0.1 | |||||||
| 2,553,615 | 3.500%, 07/01/2047 | 2,413,471 | 0.0 | |||||||
| 2,394,493 | 3.500%, 10/01/2047 | 2,265,174 | 0.0 | |||||||
| 9,372,338 | 3.500%, 01/01/2048 | 8,857,732 | 0.1 | |||||||
| 1,267,184 | 3.500%, 03/01/2048 | 1,197,612 | 0.0 | |||||||
| 22,800,842 | 3.500%, 03/01/2048 | 21,636,732 | 0.2 | |||||||
| 14,861,293 | 3.500%, 11/01/2048 | 14,100,521 | 0.2 | |||||||
| 246,856 | 4.000%, 10/01/2041 | 242,615 | 0.0 | |||||||
| 366,848 | 4.000%, 12/01/2041 | 360,661 | 0.0 | |||||||
| 1,064,751 | 4.000%, 08/01/2044 | 1,041,188 | 0.0 | |||||||
| 362,150 | 4.000%, 07/01/2045 | 354,137 | 0.0 | |||||||
| 557,333 | 4.000%, 09/01/2045 | 544,104 | 0.0 | |||||||
| 951,568 | 4.000%, 09/01/2045 | 930,514 | 0.0 | |||||||
| 1,058,742 | 4.000%, 09/01/2045 | 1,035,315 | 0.0 | |||||||
| 8,485,875 | 4.000%, 11/01/2045 | 8,298,105 | 0.1 | |||||||
| 893,181 | 4.000%, 05/01/2046 | 873,422 | 0.0 | |||||||
| 566,535 | 4.000%, 05/01/2047 | 554,403 | 0.0 | |||||||
| 3,109,807 | 4.000%, 11/01/2047 | 3,022,491 | 0.0 | |||||||
| 193,084 | 4.000%, 03/01/2048 | 188,213 | 0.0 | |||||||
| 3,493,546 | 4.000%, 06/01/2048 | 3,441,325 | 0.1 | |||||||
| 3,500,000 | 4.350%, 01/01/2030 | 3,525,148 | 0.1 | |||||||
| 139,427 | 4.500%, 08/01/2041 | 140,729 | 0.0 | |||||||
| 356,697 | 4.500%, 09/01/2041 | 361,313 | 0.0 | |||||||
| 364,151 | 4.500%, 10/01/2041 | 368,859 | 0.0 | |||||||
| 991,338 | 4.500%, 03/01/2044 | 995,594 | 0.0 | |||||||
| 1,578,988 | 4.500%, 02/01/2048 | 1,575,510 | 0.0 | |||||||
| 211,690 | 4.500%, 06/01/2048 | 211,202 | 0.0 | |||||||
| 37,143 | 5.000%, 01/01/2041 | 38,321 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Federal Home Loan Mortgage Corporation (continued) | ||||||||||
| 192,985 | 5.000%, 04/01/2041 | $ | 196,278 | 0.0 | ||||||
| 10,817 | 5.500%, 07/01/2037 | 11,168 | 0.0 | |||||||
| 664,068 | 5.500%, 11/01/2038 | 685,638 | 0.0 | |||||||
| 692 | 6.000%, 12/01/2028 | 708 | 0.0 | |||||||
| 7,956 | 6.000%, 01/01/2029 | 8,137 | 0.0 | |||||||
| 1,774 | 6.500%, 12/01/2031 | 1,848 | 0.0 | |||||||
| 177,670 | 6.500%, 09/01/2034 | 186,013 | 0.0 | |||||||
| 2,085 (3) | 7.501%, (RFUCCT1Y + 1.755%), 05/01/2037 | 2,135 | 0.0 | |||||||
| 131,446,117 | 1.4 | |||||||||
| Federal National Mortgage Association: 0.3%(4) | ||||||||||
| 15,159,473 | 3.000%, 12/01/2054 | 13,513,922 | 0.2 | |||||||
| 2,091,701 | 3.500%, 01/01/2044 | 1,994,616 | 0.0 | |||||||
| 2,651,189 | 4.000%, 12/01/2046 | 2,610,010 | 0.0 | |||||||
| 995,937 | 4.500%, 09/01/2047 | 999,515 | 0.0 | |||||||
| 7,352,744 | 5.000%, 08/01/2056 | 7,429,901 | 0.1 | |||||||
| 51,197 | 6.000%, 05/01/2038 | 52,351 | 0.0 | |||||||
| 26,600,315 | 0.3 | |||||||||
| Government National Mortgage Association: 4.8% | ||||||||||
| 8,293,875 | 2.500%, 03/20/2051 | 7,324,280 | 0.1 | |||||||
| 4,788,889 | 2.500%, 04/20/2051 | 4,197,734 | 0.0 | |||||||
| 19,565,452 | 2.500%, 04/20/2051 | 17,269,207 | 0.2 | |||||||
| 6,737,803 | 2.500%, 05/20/2051 | 5,947,660 | 0.1 | |||||||
| 17,531,649 | 2.500%, 08/20/2051 | 15,460,672 | 0.2 | |||||||
| 7,595,507 | 2.500%, 09/20/2051 | 6,696,569 | 0.1 | |||||||
| 29,909,693 | 2.500%, 10/20/2051 | 26,369,522 | 0.3 | |||||||
| 13,212,029 | 2.500%, 11/20/2051 | 11,648,224 | 0.1 | |||||||
| 17,538,146 | 2.500%, 12/20/2051 | 15,463,504 | 0.2 | |||||||
| 23,044,467 | 2.500%, 04/20/2052 | 20,316,322 | 0.2 | |||||||
| 5,390,858 | 3.000%, 10/20/2049 | 4,998,186 | 0.1 | |||||||
| 2,681,365 | 3.000%, 11/20/2049 | 2,486,006 | 0.0 | |||||||
| 2,424,363 | 3.000%, 10/20/2051 | 2,213,212 | 0.0 | |||||||
| 4,268,986 | 3.000%, 10/20/2051 | 3,809,342 | 0.0 | |||||||
| 2,592,759 | 3.000%, 11/20/2051 | 2,313,603 | 0.0 | |||||||
| 598,480 | 3.500%, 07/20/2046 | 562,429 | 0.0 | |||||||
| 2,738,040 | 3.500%, 07/20/2046 | 2,539,312 | 0.0 | |||||||
| 957,657 | 3.500%, 10/20/2046 | 906,622 | 0.0 | |||||||
| 438,941 | 3.500%, 02/20/2047 | 417,383 | 0.0 | |||||||
| 223,869 | 3.500%, 03/20/2047 | 212,250 | 0.0 | |||||||
| 261,786 | 3.500%, 07/20/2047 | 248,759 | 0.0 | |||||||
| 547,872 | 3.500%, 08/20/2047 | 519,441 | 0.0 | |||||||
| 590,009 | 3.500%, 09/20/2047 | 557,750 | 0.0 | |||||||
| 5,358,971 | 3.500%, 12/20/2047 | 5,084,871 | 0.1 | |||||||
| 3,287,780 | 3.500%, 01/20/2048 | 3,126,454 | 0.0 | |||||||
| 2,819,965 | 3.500%, 02/20/2048 | 2,677,665 | 0.0 | |||||||
| 5,053,375 | 3.500%, 02/20/2048 | 4,819,451 | 0.1 | |||||||
| 550,613 | 3.500%, 03/20/2048 | 521,694 | 0.0 | |||||||
| 13,174,026 | 3.500%, 03/20/2048 | 12,528,943 | 0.1 | |||||||
| 99,124 | 4.000%, 11/20/2040 | 98,429 | 0.0 | |||||||
| 567,970 | 4.000%, 03/20/2046 | 557,681 | 0.0 | |||||||
| 7,215,083 | 4.000%, 09/20/2047 | 7,075,040 | 0.1 | |||||||
| 3,448,057 | 4.000%, 02/20/2050 | 3,362,186 | 0.0 | |||||||
| 36,202,107 | 4.000%, 03/20/2053 | 35,009,107 | 0.4 | |||||||
| 5,811,748 | 4.000%, 05/20/2053 | 5,620,225 | 0.1 | |||||||
| 131,024 | 4.500%, 10/15/2039 | 132,568 | 0.0 | |||||||
| 94,530 | 4.500%, 11/15/2039 | 95,726 | 0.0 | |||||||
| 99,793 | 4.500%, 11/15/2039 | 100,902 | 0.0 | |||||||
| 32,648 | 4.500%, 12/15/2039 | 33,004 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
88
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Government National Mortgage Association (continued) | ||||||||||
| 5,946,176 | 4.500%, 08/20/2040 | $ | 6,019,550 | 0.1 | ||||||
| 6,957,738 | 4.500%, 09/20/2040 | 7,039,344 | 0.1 | |||||||
| 4,583,397 | 4.500%, 06/20/2041 | 4,639,963 | 0.1 | |||||||
| 29,749 | 4.500%, 08/20/2041 | 30,117 | 0.0 | |||||||
| 585,702 | 4.500%, 09/15/2047 | 585,237 | 0.0 | |||||||
| 92,432,743 | 4.500%, 07/20/2053 | 91,345,418 | 1.0 | |||||||
| 4,052,382 | 5.000%, 11/20/2052 | 4,066,705 | 0.0 | |||||||
| 1,160,040 | 5.000%, 01/20/2053 | 1,163,673 | 0.0 | |||||||
| 29,633,217 | 5.000%, 04/20/2053 | 29,738,644 | 0.3 | |||||||
| 1,981,010 | 5.000%, 06/20/2053 | 1,987,448 | 0.0 | |||||||
| 30,156,000 (5) | 5.000%, 10/20/2054 | 30,208,996 | 0.3 | |||||||
| 39,000,000 (5) | 6.000%, 10/20/2054 | 39,666,840 | 0.4 | |||||||
| 449,813,870 | 4.8 | |||||||||
| Uniform Mortgage-Backed Securities: 14.3% | ||||||||||
| 17,669,942 | 2.000%, 12/01/2050 | 14,738,247 | 0.2 | |||||||
| 11,093,869 | 2.000%, 05/01/2051 | 9,341,786 | 0.1 | |||||||
| 23,527,557 | 2.000%, 05/01/2051 | 19,548,623 | 0.2 | |||||||
| 31,752,492 | 2.000%, 05/01/2051 | 26,431,702 | 0.3 | |||||||
| 908,947 | 2.000%, 07/01/2051 | 756,435 | 0.0 | |||||||
| 4,691,591 | 2.000%, 08/01/2051 | 3,920,329 | 0.1 | |||||||
| 9,833,884 | 2.000%, 08/01/2051 | 8,157,959 | 0.1 | |||||||
| 19,110,557 | 2.000%, 09/01/2051 | 15,861,192 | 0.2 | |||||||
| 9,008,109 | 2.000%, 10/01/2051 | 7,477,645 | 0.1 | |||||||
| 877,090 | 2.000%, 11/01/2051 | 735,221 | 0.0 | |||||||
| 1,976,805 | 2.000%, 11/01/2051 | 1,658,202 | 0.0 | |||||||
| 15,767,513 | 2.000%, 11/01/2051 | 13,301,293 | 0.2 | |||||||
| 8,023,720 | 2.000%, 12/01/2051 | 6,751,169 | 0.1 | |||||||
| 27,153,941 | 2.000%, 12/01/2051 | 22,521,265 | 0.2 | |||||||
| 4,563,836 | 2.000%, 01/01/2052 | 3,842,152 | 0.1 | |||||||
| 3,950,686 | 2.000%, 02/01/2052 | 3,328,659 | 0.0 | |||||||
| 4,520,503 | 2.000%, 02/01/2052 | 3,801,773 | 0.0 | |||||||
| 7,732,318 | 2.000%, 02/01/2052 | 6,515,027 | 0.1 | |||||||
| 7,829,060 | 2.000%, 02/01/2052 | 6,582,779 | 0.1 | |||||||
| 11,239,529 | 2.000%, 02/01/2052 | 9,453,662 | 0.1 | |||||||
| 11,543,418 | 2.000%, 02/01/2052 | 9,725,664 | 0.1 | |||||||
| 12,976,402 | 2.000%, 02/01/2052 | 10,937,848 | 0.1 | |||||||
| 23,168,967 | 2.000%, 02/01/2052 | 19,206,556 | 0.2 | |||||||
| 25,188,117 | 2.000%, 02/01/2052 | 21,193,841 | 0.2 | |||||||
| 4,668,309 | 2.000%, 03/01/2052 | 3,928,301 | 0.1 | |||||||
| 4,920,327 | 2.000%, 03/01/2052 | 4,143,204 | 0.1 | |||||||
| 5,600,165 | 2.000%, 03/01/2052 | 4,673,417 | 0.1 | |||||||
| 26,305,081 | 2.000%, 03/01/2052 | 21,797,517 | 0.2 | |||||||
| 6,106,515 | 2.000%, 04/01/2052 | 5,147,412 | 0.1 | |||||||
| 497,548 | 2.500%, 05/01/2030 | 480,554 | 0.0 | |||||||
| 731,906 | 2.500%, 06/01/2030 | 706,626 | 0.0 | |||||||
| 974,998 | 2.500%, 06/01/2030 | 940,951 | 0.0 | |||||||
| 399,270 | 2.500%, 07/01/2030 | 385,175 | 0.0 | |||||||
| 13,158 | 2.500%, 02/01/2050 | 11,501 | 0.0 | |||||||
| 21,399 | 2.500%, 04/01/2050 | 18,672 | 0.0 | |||||||
| 17,311 | 2.500%, 05/01/2050 | 15,104 | 0.0 | |||||||
| 32,582 | 2.500%, 05/01/2050 | 28,439 | 0.0 | |||||||
| 33,228 | 2.500%, 05/01/2050 | 28,984 | 0.0 | |||||||
| 60,861 | 2.500%, 05/01/2050 | 53,104 | 0.0 | |||||||
| 168,135 | 2.500%, 05/01/2050 | 146,702 | 0.0 | |||||||
| 15,069 | 2.500%, 06/01/2050 | 13,148 | 0.0 | |||||||
| 1,581,107 | 2.500%, 06/01/2050 | 1,387,890 | 0.0 | |||||||
| 18,819,620 | 2.500%, 06/01/2050 | 16,549,016 | 0.2 | |||||||
| 208,236 | 2.500%, 07/01/2050 | 181,549 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Uniform Mortgage-Backed Securities (continued) | ||||||||||
| 3,160,444 | 2.500%, 07/01/2050 | $ | 2,760,164 | 0.0 | ||||||
| 24,884,274 | 2.500%, 07/01/2050 | 21,735,322 | 0.2 | |||||||
| 100,788 | 2.500%, 08/01/2050 | 88,107 | 0.0 | |||||||
| 682,111 | 2.500%, 08/01/2050 | 596,228 | 0.0 | |||||||
| 1,794,799 | 2.500%, 08/01/2050 | 1,559,446 | 0.0 | |||||||
| 2,012,701 | 2.500%, 08/01/2050 | 1,756,125 | 0.0 | |||||||
| 21,313,303 | 2.500%, 08/01/2050 | 18,741,753 | 0.2 | |||||||
| 24,726 | 2.500%, 09/01/2050 | 21,651 | 0.0 | |||||||
| 77,910 | 2.500%, 09/01/2050 | 67,979 | 0.0 | |||||||
| 191,330 | 2.500%, 09/01/2050 | 166,942 | 0.0 | |||||||
| 781,076 | 2.500%, 09/01/2050 | 681,506 | 0.0 | |||||||
| 903,300 | 2.500%, 09/01/2050 | 788,161 | 0.0 | |||||||
| 3,847,912 | 2.500%, 10/01/2050 | 3,343,289 | 0.0 | |||||||
| 4,121,785 | 2.500%, 10/01/2050 | 3,596,397 | 0.0 | |||||||
| 3,304,553 | 2.500%, 11/01/2050 | 2,902,992 | 0.0 | |||||||
| 79,572 | 2.500%, 01/01/2051 | 69,428 | 0.0 | |||||||
| 9,499,252 | 2.500%, 02/01/2051 | 8,288,293 | 0.1 | |||||||
| 21,855,152 | 2.500%, 04/01/2051 | 19,021,451 | 0.2 | |||||||
| 3,223,429 | 2.500%, 05/01/2051 | 2,815,445 | 0.0 | |||||||
| 36,169,195 | 2.500%, 06/01/2051 | 31,482,420 | 0.3 | |||||||
| 3,928,718 | 2.500%, 09/01/2051 | 3,450,579 | 0.0 | |||||||
| 17,944,117 | 2.500%, 11/01/2051 | 15,656,832 | 0.2 | |||||||
| 2,431,648 | 2.500%, 12/01/2051 | 2,129,526 | 0.0 | |||||||
| 15,639,750 | 2.500%, 12/01/2051 | 13,749,283 | 0.2 | |||||||
| 14,999,084 | 2.500%, 01/01/2052 | 13,152,288 | 0.1 | |||||||
| 24,782,791 | 2.500%, 01/01/2052 | 21,654,165 | 0.2 | |||||||
| 3,606,045 | 2.500%, 02/01/2052 | 3,180,472 | 0.0 | |||||||
| 3,784,894 | 2.500%, 02/01/2052 | 3,327,135 | 0.0 | |||||||
| 6,087,897 | 2.500%, 02/01/2052 | 5,314,021 | 0.1 | |||||||
| 6,962,637 | 2.500%, 02/01/2052 | 6,077,607 | 0.1 | |||||||
| 10,957,595 | 2.500%, 02/01/2052 | 9,533,936 | 0.1 | |||||||
| 105,900,481 | 2.500%, 02/01/2052 | 92,869,307 | 1.0 | |||||||
| 6,011,369 | 2.500%, 03/01/2052 | 5,270,680 | 0.1 | |||||||
| 9,117,711 | 2.500%, 03/01/2052 | 7,982,417 | 0.1 | |||||||
| 28,035,210 | 2.500%, 03/01/2052 | 24,547,266 | 0.3 | |||||||
| 17,116,656 | 2.500%, 04/01/2052 | 14,925,919 | 0.2 | |||||||
| 679,660 | 3.000%, 08/01/2030 | 664,984 | 0.0 | |||||||
| 337,959 | 3.000%, 09/01/2030 | 330,129 | 0.0 | |||||||
| 716,805 | 3.000%, 08/01/2035 | 693,801 | 0.0 | |||||||
| 1,498,006 | 3.000%, 04/01/2043 | 1,389,926 | 0.0 | |||||||
| 1,351,390 | 3.000%, 07/01/2043 | 1,253,902 | 0.0 | |||||||
| 449,970 | 3.000%, 08/01/2043 | 417,530 | 0.0 | |||||||
| 285,877 | 3.000%, 09/01/2043 | 265,271 | 0.0 | |||||||
| 4,763,255 | 3.000%, 04/01/2045 | 4,406,640 | 0.1 | |||||||
| 896,923 | 3.000%, 08/01/2046 | 825,738 | 0.0 | |||||||
| 1,978,757 | 3.000%, 08/01/2046 | 1,819,663 | 0.0 | |||||||
| 645,374 | 3.000%, 11/01/2046 | 595,932 | 0.0 | |||||||
| 1,456,824 | 3.000%, 12/01/2046 | 1,337,314 | 0.0 | |||||||
| 5,510,786 | 3.000%, 12/01/2046 | 5,067,016 | 0.1 | |||||||
| 10,849,180 | 3.000%, 01/01/2047 | 9,918,955 | 0.1 | |||||||
| 2,646,545 | 3.000%, 02/01/2047 | 2,433,518 | 0.0 | |||||||
| 3,305,211 | 3.000%, 03/01/2047 | 3,034,078 | 0.0 | |||||||
| 2,577,927 | 3.000%, 07/01/2047 | 2,366,455 | 0.0 | |||||||
| 20,565,687 | 3.000%, 10/01/2050 | 18,733,201 | 0.2 | |||||||
| 1,880,589 | 3.000%, 03/01/2051 | 1,709,917 | 0.0 | |||||||
| 4,651,513 | 3.000%, 01/01/2052 | 4,250,910 | 0.1 | |||||||
| 39,664,351 | 3.000%, 01/01/2052 | 35,998,586 | 0.4 | |||||||
| 3,401,051 | 3.000%, 02/01/2052 | 3,108,132 | 0.0 | |||||||
| 3,880,845 | 3.000%, 02/01/2052 | 3,539,870 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
89
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Uniform Mortgage-Backed Securities (continued) | ||||||||||
| 4,954,728 | 3.000%, 02/01/2052 | $ | 4,502,444 | 0.1 | ||||||
| 5,111,079 | 3.000%, 02/01/2052 | 4,671,516 | 0.1 | |||||||
| 5,259,840 | 3.000%, 02/01/2052 | 4,797,696 | 0.1 | |||||||
| 10,830,824 | 3.000%, 02/01/2052 | 9,871,478 | 0.1 | |||||||
| 9,363,743 | 3.000%, 03/01/2052 | 8,541,026 | 0.1 | |||||||
| 15,151,221 | 3.000%, 03/01/2052 | 13,747,573 | 0.2 | |||||||
| 19,333,252 | 3.000%, 05/01/2052 | 17,544,933 | 0.2 | |||||||
| 43,995,927 | 3.000%, 05/01/2052 | 39,773,960 | 0.4 | |||||||
| 11,635,476 | 3.500%, 06/01/2034 | 11,468,664 | 0.1 | |||||||
| 1,741,031 | 3.500%, 10/01/2042 | 1,663,041 | 0.0 | |||||||
| 753,381 | 3.500%, 04/01/2043 | 719,618 | 0.0 | |||||||
| 2,223,459 | 3.500%, 08/01/2043 | 2,123,810 | 0.0 | |||||||
| 1,349,328 | 3.500%, 03/01/2044 | 1,285,068 | 0.0 | |||||||
| 163,115 | 3.500%, 01/01/2046 | 155,119 | 0.0 | |||||||
| 117,995 | 3.500%, 02/01/2046 | 112,195 | 0.0 | |||||||
| 245,917 | 3.500%, 02/01/2046 | 233,862 | 0.0 | |||||||
| 10,056,042 | 3.500%, 08/01/2046 | 9,550,878 | 0.1 | |||||||
| 686,984 | 3.500%, 08/01/2047 | 648,552 | 0.0 | |||||||
| 918,306 | 3.500%, 09/01/2047 | 866,927 | 0.0 | |||||||
| 12,027,386 | 3.500%, 11/01/2047 | 11,443,770 | 0.1 | |||||||
| 351,324 | 3.500%, 12/01/2047 | 331,668 | 0.0 | |||||||
| 767,676 | 3.500%, 02/01/2048 | 724,714 | 0.0 | |||||||
| 735,129 | 3.500%, 05/01/2048 | 693,991 | 0.0 | |||||||
| 6,997,071 | 3.500%, 07/01/2048 | 6,631,532 | 0.1 | |||||||
| 1,711,172 | 3.500%, 10/01/2049 | 1,629,955 | 0.0 | |||||||
| 2,204,524 | 3.500%, 02/01/2052 | 2,082,858 | 0.0 | |||||||
| 34,239,178 | 3.500%, 05/01/2052 | 31,898,184 | 0.4 | |||||||
| 15,382,134 | 3.500%, 06/01/2052 | 14,340,350 | 0.2 | |||||||
| 93,273 | 4.000%, 03/01/2042 | 92,263 | 0.0 | |||||||
| 91,786 | 4.000%, 07/01/2042 | 90,791 | 0.0 | |||||||
| 293,576 | 4.000%, 07/01/2042 | 287,564 | 0.0 | |||||||
| 721,993 | 4.000%, 07/01/2042 | 712,384 | 0.0 | |||||||
| 398,693 | 4.000%, 09/01/2043 | 393,336 | 0.0 | |||||||
| 1,026,321 | 4.000%, 01/01/2045 | 1,002,503 | 0.0 | |||||||
| 7,468,416 | 4.000%, 01/01/2045 | 7,403,588 | 0.1 | |||||||
| 931,286 | 4.000%, 03/01/2045 | 909,674 | 0.0 | |||||||
| 2,699,484 | 4.000%, 05/01/2045 | 2,637,673 | 0.0 | |||||||
| 790,802 | 4.000%, 06/01/2045 | 772,449 | 0.0 | |||||||
| 775,718 | 4.000%, 11/01/2045 | 763,180 | 0.0 | |||||||
| 2,354,865 | 4.000%, 02/01/2046 | 2,303,816 | 0.0 | |||||||
| 3,985,943 | 4.000%, 07/01/2047 | 3,881,069 | 0.1 | |||||||
| 366,755 | 4.000%, 08/01/2047 | 356,991 | 0.0 | |||||||
| 1,037,645 | 4.000%, 08/01/2047 | 1,010,019 | 0.0 | |||||||
| 68,269 | 4.000%, 03/01/2048 | 66,430 | 0.0 | |||||||
| 377,730 | 4.000%, 03/01/2048 | 367,558 | 0.0 | |||||||
| 3,538,764 | 4.000%, 06/01/2048 | 3,443,454 | 0.0 | |||||||
| 2,666,229 | 4.000%, 09/01/2048 | 2,607,695 | 0.0 | |||||||
| 7,580,336 | 4.000%, 04/01/2049 | 7,376,222 | 0.1 | |||||||
| 8,638,168 | 4.000%, 05/01/2052 | 8,335,898 | 0.1 | |||||||
| 5,393,320 | 4.000%, 06/01/2052 | 5,246,634 | 0.1 | |||||||
| 25,716,075 | 4.000%, 08/01/2052 | 24,725,310 | 0.3 | |||||||
| 3,120,711 | 4.000%, 11/01/2052 | 3,044,515 | 0.0 | |||||||
| 859,496 | 4.250%, 11/01/2043 | 853,820 | 0.0 | |||||||
| 71,314 | 4.500%, 11/01/2040 | 72,157 | 0.0 | |||||||
| 201,266 | 4.500%, 11/01/2040 | 203,647 | 0.0 | |||||||
| 1,207,962 | 4.500%, 11/01/2040 | 1,222,247 | 0.0 | |||||||
| 1,973 | 4.500%, 12/01/2040 | 1,996 | 0.0 | |||||||
| 3,496 | 4.500%, 12/01/2040 | 3,537 | 0.0 | |||||||
| 2,147 | 4.500%, 01/01/2041 | 2,154 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | ||||||||||
| Uniform Mortgage-Backed Securities (continued) | ||||||||||
| 3,774 | 4.500%, 01/01/2041 | $ | 3,816 | 0.0 | ||||||
| 148,198 | 4.500%, 10/01/2041 | 149,267 | 0.0 | |||||||
| 244,296 | 4.500%, 10/01/2044 | 244,318 | 0.0 | |||||||
| 373,374 | 4.500%, 12/01/2045 | 374,854 | 0.0 | |||||||
| 261,633 | 4.500%, 04/01/2047 | 262,304 | 0.0 | |||||||
| 752,413 | 4.500%, 04/01/2047 | 753,259 | 0.0 | |||||||
| 1,597,359 | 4.500%, 04/01/2047 | 1,598,516 | 0.0 | |||||||
| 2,116,061 | 4.500%, 04/01/2047 | 2,124,458 | 0.0 | |||||||
| 554,597 | 4.500%, 05/01/2047 | 551,079 | 0.0 | |||||||
| 753,490 | 4.500%, 05/01/2047 | 756,481 | 0.0 | |||||||
| 789,497 | 4.500%, 05/01/2047 | 795,154 | 0.0 | |||||||
| 795,873 | 4.500%, 05/01/2047 | 801,183 | 0.0 | |||||||
| 830,480 | 4.500%, 05/01/2047 | 836,020 | 0.0 | |||||||
| 291,324 | 4.500%, 06/01/2047 | 291,141 | 0.0 | |||||||
| 422,654 | 4.500%, 06/01/2047 | 422,520 | 0.0 | |||||||
| 700,469 | 4.500%, 06/01/2047 | 703,249 | 0.0 | |||||||
| 1,492,346 | 4.500%, 07/01/2047 | 1,489,566 | 0.0 | |||||||
| 100,173 | 4.500%, 08/01/2047 | 100,196 | 0.0 | |||||||
| 7,130,697 | 4.500%, 08/01/2052 | 7,069,666 | 0.1 | |||||||
| 22,294,620 | 4.500%, 10/01/2052 | 21,934,660 | 0.2 | |||||||
| 1,152,013 | 5.000%, 05/01/2042 | 1,187,178 | 0.0 | |||||||
| 13,417,439 | 5.000%, 10/01/2052 | 13,431,323 | 0.2 | |||||||
| 39,968,538 | 5.000%, 11/01/2053 | 39,965,320 | 0.4 | |||||||
| 38,284,653 | 5.000%, 08/01/2054 | 38,269,211 | 0.4 | |||||||
| 54,617 | 5.500%, 03/01/2037 | 56,194 | 0.0 | |||||||
| 65,505 | 5.500%, 06/01/2039 | 67,699 | 0.0 | |||||||
| 561,229 | 5.500%, 10/01/2039 | 577,653 | 0.0 | |||||||
| 50,644,076 | 5.500%, 06/01/2053 | 51,253,632 | 0.6 | |||||||
| 39,231,128 | 5.500%, 08/01/2053 | 39,707,437 | 0.4 | |||||||
| 24,350,000 (5) | 5.500%, 10/01/2054 | 24,635,765 | 0.3 | |||||||
| 34,812 | 6.000%, 09/01/2036 | 35,891 | 0.0 | |||||||
| 29,646,167 | 6.000%, 09/01/2054 | 30,306,571 | 0.3 | |||||||
| 103 | 6.500%, 09/01/2031 | 107 | 0.0 | |||||||
| 379 | 6.500%, 09/01/2031 | 391 | 0.0 | |||||||
| 10,386 | 6.500%, 11/01/2031 | 10,732 | 0.0 | |||||||
| 4,218 | 6.500%, 04/01/2032 | 4,350 | 0.0 | |||||||
| 951 | 6.500%, 08/01/2032 | 981 | 0.0 | |||||||
| 3,073 | 6.500%, 08/01/2032 | 3,168 | 0.0 | |||||||
| 2,828 | 7.000%, 12/01/2027 | 2,936 | 0.0 | |||||||
| 637 | 7.000%, 10/01/2031 | 661 | 0.0 | |||||||
| 433 | 7.000%, 03/01/2032 | 450 | 0.0 | |||||||
| 442 | 7.500%, 09/01/2030 | 459 | 0.0 | |||||||
| 1,106 | 7.500%, 09/01/2031 | 1,144 | 0.0 | |||||||
| 9,394 | 7.500%, 02/01/2032 | 9,641 | 0.0 | |||||||
| 1,336,928,852 | 14.3 | |||||||||
| Total U.S. Government Agency Obligations (Cost $2,011,322,875) | 1,944,789,154 | 20.8 | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: 15.0% | ||||||||||
| 1,101,399 (3) | Alternative Loan Trust 2004-J7 M1, 4.994%, (TSFR1M + 1.134%), 10/25/2034 | 1,081,685 | 0.0 | |||||||
| 360,632 (3) | Alternative Loan Trust 2005-53T2 2A6, 5.469%, (TSFR1M + 0.614%), 11/25/2035 | 193,212 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
90
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 393,042 | Alternative Loan Trust 2005-65CB 2A4, 5.500%, 12/25/2035 | $ | 279,936 | 0.0 | ||||||
| 885,498 (3) | Alternative Loan Trust 2005-J2 1A12, 5.369%, (TSFR1M + 0.514%), 04/25/2035 | 673,212 | 0.0 | |||||||
| 615,770 | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | 313,285 | 0.0 | |||||||
| 112,721 (3) | Alternative Loan Trust 2006-18CB A10, 5.369%, (TSFR1M + 0.514%), 07/25/2036 | 43,571 | 0.0 | |||||||
| 667,848 (3) | Alternative Loan Trust 2006-19CB A28, 5.569%, (TSFR1M + 0.714%), 08/25/2036 | 306,988 | 0.0 | |||||||
| 827,538 (3) | Alternative Loan Trust 2007-23CB A3, 5.469%, (TSFR1M + 0.614%), 09/25/2037 | 303,719 | 0.0 | |||||||
| 1,845,397 (3) | Alternative Loan Trust 2007-2CB 2A1, 5.569%, (TSFR1M + 0.714%), 03/25/2037 | 770,802 | 0.0 | |||||||
| 815,948 | Alternative Loan Trust 2007-3T1 1A11, 6.000%, 04/25/2037 | 383,101 | 0.0 | |||||||
| 709,864 (3) | Alternative Loan Trust 2007-8CB A3, 5.469%, (TSFR1M + 0.614%), 05/25/2037 | 314,720 | 0.0 | |||||||
| 1,111,082 (3) | American Home Mortgage Assets Trust 2007-4 A4, 5.549%, (TSFR1M + 0.694%), 08/25/2037 | 989,222 | 0.0 | |||||||
| 551,847 (1)(3) | Arroyo Mortgage Trust 2019-3 A3, 3.416%, 10/25/2048 | 530,022 | 0.0 | |||||||
| 465,955 (3) | Banc of America Funding Trust 2007-2 1A16, 5.569%, (TSFR1M + 0.714%), 03/25/2037 | 340,006 | 0.0 | |||||||
| 595,636 (6) | Banc of America Mortgage Trust 2007-2 A8, 6.000%, 05/25/2037 | 59,234 | 0.0 | |||||||
| 2,477,974 (1)(3) | Bayview MSR Opportunity Master Fund Trust 2022-2 AF, 5.000%, (SOFR30A + 0.850%), 12/25/2051 | 2,306,460 | 0.0 | |||||||
| 467,123 (3) | Bear Stearns ALT-A Trust 2005-4 23A1, 5.454%, 05/25/2035 | 443,191 | 0.0 | |||||||
| 791,560 (3) | Bear Stearns ALT-A Trust 2005-7 21A1, 6.339%, 09/25/2035 | 643,698 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,000,000 (1)(3) | Bellemeade Re Ltd. 2022-1 M1C, 8.980%, (SOFR30A + 3.700%), 01/26/2032 | $ | 1,023,540 | 0.0 | ||||||
| 13,147,000 (1)(3) | Bellemeade RE Ltd. 2021-3A M1C, 6.830%, (SOFR30A + 1.550%), 09/25/2031 | 13,236,247 | 0.2 | |||||||
| 1,716,673 (1)(3) | Chase Home Lending Mortgage Trust 2019-1 B2, 3.886%, 03/25/2050 | 1,540,715 | 0.0 | |||||||
| 2,006,582 (1)(3) | Chase Home Lending Mortgage Trust 2019-1 B3, 3.886%, 03/25/2050 | 1,781,160 | 0.0 | |||||||
| 2,352,000 (1)(3) | Chase Home Lending Mortgage Trust 2024-8 B3, 7.134%, 08/25/2055 | 2,443,852 | 0.0 | |||||||
| 441,410 | CHL Mortgage Pass-Through Trust 2007-7 A7, 5.750%, 06/25/2037 | 217,215 | 0.0 | |||||||
| 625,271 (1)(3) | CHNGE Mortgage Trust 2022-1 A1, 3.007%, 01/25/2067 | 593,259 | 0.0 | |||||||
| 73,553 (1)(3) | CIM Trust 2019-INV1 A1, 4.000%, 02/25/2049 | 71,068 | 0.0 | |||||||
| 215,398 (1)(3) | CIM Trust 2019-INV3 A3, 3.500%, 08/25/2049 | 198,535 | 0.0 | |||||||
| 2,643,432 (1)(3) | CIM Trust 2019-J2 B2, 3.764%, 10/25/2049 | 2,397,323 | 0.0 | |||||||
| 881,963 (1)(3) | CIM Trust 2019-J2 B3, 3.764%, 10/25/2049 | 790,064 | 0.0 | |||||||
| 2,600,000 (1)(3) | CIM Trust 2019-R5 M2, 3.250%, 09/25/2059 | 2,407,717 | 0.0 | |||||||
| 2,969,026 (1)(3) | CIM Trust 2020-J1 B3, 3.445%, 07/25/2050 | 2,590,425 | 0.0 | |||||||
| 661,671 | Citicorp Mortgage Securities Trust Series 2006-3 1A4, 6.000%, 06/25/2036 | 605,443 | 0.0 | |||||||
| 530,440 (3) | Citigroup Mortgage Loan Trust 2006-AR9 2A, 5.813%, 11/25/2036 | 471,662 | 0.0 | |||||||
| 254,995 (3) | Citigroup Mortgage Loan Trust 2007-10 22AA, 4.972%, 09/25/2037 | 226,058 | 0.0 | |||||||
| 554,234 (1)(3) | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | 540,624 | 0.0 | |||||||
| 1,273,792 (1)(3) | Citigroup Mortgage Loan Trust 2021-J2 B2W, 2.770%, 07/25/2051 | 1,068,537 | 0.0 | |||||||
| 1,431,655 (1)(3) | Citigroup Mortgage Loan Trust 2021-J2 B3W, 2.770%, 07/25/2051 | 1,189,105 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
91
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 673,793 (1)(3) | Connecticut Avenue Securities Trust 2019-R05 1B1, 9.495%, (SOFR30A + 4.214%), 07/25/2039 | $ | 702,829 | 0.0 | ||||||
| 800,000 (1)(3) | Connecticut Avenue Securities Trust 2020-SBT1 1M2, 9.045%, (SOFR30A + 3.764%), 02/25/2040 | 846,697 | 0.0 | |||||||
| 13,600,000 (1)(3) | Connecticut Avenue Securities Trust 2022-R01 1B1, 8.430%, (SOFR30A + 3.150%), 12/25/2041 | 14,056,848 | 0.2 | |||||||
| 574,839 (1) | CSMC Series 2008-2R 1A1, 6.000%, 07/25/2037 | 500,892 | 0.0 | |||||||
| 617,967 (1)(3) | CSMC Trust 2015-2 B3, 3.884%, 02/25/2045 | 591,228 | 0.0 | |||||||
| 47,009,187 (3)(6) | Deutsche Alt-B Securities Mortgage Loan Trust Series 2007-AB1 X, 0.757%, 04/25/2037 | 1,979,738 | 0.0 | |||||||
| 111,747 (3) | Fannie Mae Connecticut Avenue Securities 2016-C01 2M2, 12.345%, (SOFR30A + 7.064%), 08/25/2028 | 117,366 | 0.0 | |||||||
| 4,578,457 (1)(3) | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 8.395%, (SOFR30A + 3.114%), 01/25/2040 | 4,693,502 | 0.1 | |||||||
| 500,000 (1)(3) | Fannie Mae Connecticut Avenue Securities 2020-SBT1 2M2, 9.045%, (SOFR30A + 3.764%), 02/25/2040 | 529,783 | 0.0 | |||||||
| 2,500,000 (1)(3) | Fannie Mae Connecticut Avenue Securities 2021-R02 2B1, 8.580%, (SOFR30A + 3.300%), 11/25/2041 | 2,579,953 | 0.0 | |||||||
| 1,000,000 (1)(3) | Fannie Mae Connecticut Avenue Securities 2022-R05 2B2, 12.280%, (SOFR30A + 7.000%), 04/25/2042 | 1,091,563 | 0.0 | |||||||
| 4,000,000 (1)(3) | Fannie Mae Connecticut Avenue Securities 2023-R04 1B1, 10.613%, (SOFR30A + 5.350%), 05/25/2043 | 4,416,389 | 0.1 | |||||||
| 7,418,600 (1)(3) | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 10.013%, (SOFR30A + 4.750%), 06/25/2043 | 8,073,061 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 3,000,000 (1)(3) | Fannie Mae Connecticut Avenue Securities 2023-R07 2M2, 8.513%, (SOFR30A + 3.250%), 09/25/2043 | $ | 3,125,605 | 0.1 | ||||||
| 3,200,000 (1)(3) | Fannie Mae Connecticut Avenue Securities 2024-R03 2B1, 8.063%, (SOFR30A + 2.800%), 03/25/2044 | 3,247,708 | 0.1 | |||||||
| 8,400,000 (1)(3) | Fannie Mae Connecticut Avenue Securities 2024-R04 1B1, 7.480%, (SOFR30A + 2.200%), 05/25/2044 | 8,453,219 | 0.1 | |||||||
| 1,933 (3) | Fannie Mae Grantor Trust 1998-T2 A6, 0.027%, (US0001M + 0.550%), 01/25/2032 | 1,932 | 0.0 | |||||||
| 112,432 (6) | Fannie Mae Interest Strip 418 20, 3.000%, 05/25/2043 | 14,908 | 0.0 | |||||||
| 246,336 (6) | Fannie Mae Interest Strip 418 59, 3.000%, 08/25/2028 | 7,891 | 0.0 | |||||||
| 102,592,676 (6) | Fannie Mae Interest Strip 428 C28, 2.000%, 07/25/2037 | 5,657,842 | 0.1 | |||||||
| 62,096,468 (6) | Fannie Mae Interest Strip 440 C50, 4.500%, 10/25/2053 | 12,845,611 | 0.2 | |||||||
| 4,319 (3)(6) | Fannie Mae REMIC Trust 1997-18 SG, 2.644%, (-1.000*SOFR30A + 7.986%), 03/17/2027 | 19 | 0.0 | |||||||
| 33,435 | Fannie Mae REMIC Trust 1999-33 Z, 6.000%, 07/25/2029 | 34,048 | 0.0 | |||||||
| 125,156 (3)(6) | Fannie Mae REMIC Trust 2001-72 SC, 1.000%, (-1.000*SOFR30A + 8.386%), 12/25/2031 | 2,778 | 0.0 | |||||||
| 5,358 (3)(6) | Fannie Mae REMIC Trust 2001-8 SK, 3.294%, (-1.000*SOFR30A + 8.636%), 03/18/2031 | 179 | 0.0 | |||||||
| 2,744,385 | Fannie Mae REMIC Trust 2002-W9 A4, 6.000%, 08/25/2042 | 2,791,507 | 0.0 | |||||||
| 457,964 | Fannie Mae REMIC Trust 2003-105 AZ, 5.500%, 10/25/2033 | 476,376 | 0.0 | |||||||
| 200,598 (3) | Fannie Mae REMIC Trust 2003-45 FJ, 6.961%, (SOFR30A + 1.614%), 06/25/2033 | 205,591 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
92
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 476,925 (3)(6) | Fannie Mae REMIC Trust 2003-49 SW, 1.605%, (-1.000*SOFR30A + 6.886%), 01/25/2033 | $ | 42,512 | 0.0 | ||||||
| 590,801 (3)(6) | Fannie Mae REMIC Trust 2003-66 SA, 2.255%, (-1.000*SOFR30A + 7.536%), 07/25/2033 | 68,106 | 0.0 | |||||||
| 117,744 (6) | Fannie Mae REMIC Trust 2003-74 IO, 6.000%, 08/25/2033 | 18,864 | 0.0 | |||||||
| 265,543 | Fannie Mae REMIC Trust 2003-84 PZ, 5.000%, 09/25/2033 | 272,203 | 0.0 | |||||||
| 508,541 | Fannie Mae REMIC Trust 2004-50 VZ, 5.500%, 07/25/2034 | 530,943 | 0.0 | |||||||
| 2,106,440 (3)(6) | Fannie Mae REMIC Trust 2004-54 SN, 1.655%, (-1.000*SOFR30A + 6.936%), 07/25/2034 | 172,217 | 0.0 | |||||||
| 26,363 (3) | Fannie Mae REMIC Trust 2004-56 FE, 5.845%, (SOFR30A + 0.564%), 10/25/2033 | 26,326 | 0.0 | |||||||
| 198,626 | Fannie Mae REMIC Trust 2004-7 Z, 5.500%, 02/25/2034 | 206,388 | 0.0 | |||||||
| 443,178 | Fannie Mae REMIC Trust 2004-75 ZG, 4.500%, 10/25/2034 | 446,390 | 0.0 | |||||||
| 1,268,495 | Fannie Mae REMIC Trust 2005-25 Z, 5.000%, 04/25/2035 | 1,301,734 | 0.0 | |||||||
| 4,569,677 (3)(6) | Fannie Mae REMIC Trust 2005-75 ES, 0.655%, (-1.000*SOFR30A + 5.936%), 09/25/2035 | 381,926 | 0.0 | |||||||
| 332,822 (3)(6) | Fannie Mae REMIC Trust 2005-75 SP, 1.355%, (-1.000*SOFR30A + 6.636%), 08/25/2035 | 17,196 | 0.0 | |||||||
| 59,157 (3) | Fannie Mae REMIC Trust 2006-104 ES, 6.477%, (-1.000*SOFR30A + 32.878%), 11/25/2036 | 81,488 | 0.0 | |||||||
| 796,638 (3)(6) | Fannie Mae REMIC Trust 2006-12 SD, 1.355%, (-1.000*SOFR30A + 6.636%), 10/25/2035 | 57,141 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 353,803 (3)(6) | Fannie Mae REMIC Trust 2006-123 UI, 1.345%, (-1.000*SOFR30A + 6.626%), 01/25/2037 | $ | 36,473 | 0.0 | ||||||
| 1,078,784 (3)(6) | Fannie Mae REMIC Trust 2006-56 SM, 1.355%, (-1.000*SOFR30A + 6.636%), 07/25/2036 | 85,254 | 0.0 | |||||||
| 25,497 (3)(6) | Fannie Mae REMIC Trust 2006-72 HS, 1.305%, (-1.000*SOFR30A + 6.586%), 08/25/2026 | 455 | 0.0 | |||||||
| 17,546 | Fannie Mae REMIC Trust 2007-10 Z, 6.000%, 02/25/2037 | 18,392 | 0.0 | |||||||
| 321,237 (3)(6) | Fannie Mae REMIC Trust 2007-21 SB, 1.005%, (-1.000*SOFR30A + 6.286%), 03/25/2037 | 29,053 | 0.0 | |||||||
| 769,595 (3)(6) | Fannie Mae REMIC Trust 2007-52 NS, 1.055%, (-1.000*SOFR30A + 6.336%), 06/25/2037 | 83,062 | 0.0 | |||||||
| 717,931 (3)(6) | Fannie Mae REMIC Trust 2007-85 SM, 1.065%, (-1.000*SOFR30A + 6.346%), 09/25/2037 | 72,123 | 0.0 | |||||||
| 1,506,500 (3)(6) | Fannie Mae REMIC Trust 2007-91 AS, 1.005%, (-1.000*SOFR30A + 6.286%), 10/25/2037 | 150,918 | 0.0 | |||||||
| 1,670,587 (3)(6) | Fannie Mae REMIC Trust 2008-12 SC, 0.955%, (-1.000*SOFR30A + 6.236%), 03/25/2038 | 135,263 | 0.0 | |||||||
| 192,097 | Fannie Mae REMIC Trust 2008-16 Z, 5.500%, 03/25/2038 | 193,637 | 0.0 | |||||||
| 768,136 | Fannie Mae REMIC Trust 2009-19 PW, 4.500%, 10/25/2036 | 774,153 | 0.0 | |||||||
| 4,124,089 (3) | Fannie Mae REMIC Trust 2009-50 HZ, 5.540%, 02/25/2049 | 4,255,823 | 0.1 | |||||||
| 3,584,490 (3)(6) | Fannie Mae REMIC Trust 2009-66 SP, 0.705%, (-1.000*SOFR30A + 5.986%), 09/25/2039 | 243,875 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
93
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 838,199 (3)(6) | Fannie Mae REMIC Trust 2009-90 TS, 0.755%, (-1.000*SOFR30A + 6.036%), 11/25/2039 | $ | 78,395 | 0.0 | ||||||
| 2,454,158 (3)(6) | Fannie Mae REMIC Trust 2010-1 S, 0.855%, (-1.000*SOFR30A + 6.136%), 02/25/2040 | 246,604 | 0.0 | |||||||
| 7,125,884 (3)(6) | Fannie Mae REMIC Trust 2010-107 SB, 1.195%, (-1.000*SOFR30A + 6.476%), 09/25/2040 | 825,725 | 0.0 | |||||||
| 1,996,029 (3)(6) | Fannie Mae REMIC Trust 2010-123 SL, 0.675%, (-1.000*SOFR30A + 5.956%), 11/25/2040 | 155,679 | 0.0 | |||||||
| 3,851,202 (3)(6) | Fannie Mae REMIC Trust 2010-150 SJ, 1.085%, (-1.000*SOFR30A + 6.366%), 01/25/2041 | 411,093 | 0.0 | |||||||
| 803,612 (3)(6) | Fannie Mae REMIC Trust 2010-35 CS, 1.055%, (-1.000*SOFR30A + 6.336%), 04/25/2050 | 90,651 | 0.0 | |||||||
| 2,524,409 (3)(6) | Fannie Mae REMIC Trust 2010-41 SB, 1.005%, (-1.000*SOFR30A + 6.286%), 05/25/2040 | 213,035 | 0.0 | |||||||
| 663,175 (3)(6) | Fannie Mae REMIC Trust 2010-43 VS, 1.055%, (-1.000*SOFR30A + 6.336%), 05/25/2040 | 58,972 | 0.0 | |||||||
| 1,621,216 | Fannie Mae REMIC Trust 2010-53 JZ, 5.000%, 07/25/2040 | 1,615,036 | 0.0 | |||||||
| 4,027,261 | Fannie Mae REMIC Trust 2010-59 PC, 5.000%, 06/25/2040 | 4,178,681 | 0.1 | |||||||
| 751,115 | Fannie Mae REMIC Trust 2011-10 ZC, 5.000%, 02/25/2041 | 765,281 | 0.0 | |||||||
| 3,995,695 | Fannie Mae REMIC Trust 2011-101 DB, 4.000%, 10/25/2041 | 3,945,839 | 0.1 | |||||||
| 482,085 (3)(6) | Fannie Mae REMIC Trust 2011-102 SA, 1.205%, (-1.000*SOFR30A + 6.486%), 10/25/2041 | 59,240 | 0.0 | |||||||
| 2,476,133 | Fannie Mae REMIC Trust 2011-116 ZA, 3.500%, 11/25/2041 | 2,373,724 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 52,472 | Fannie Mae REMIC Trust 2011-127 UY, 3.500%, 12/25/2041 | $ | 50,087 | 0.0 | ||||||
| 6,133,362 | Fannie Mae REMIC Trust 2011-136 PZ, 4.000%, 01/25/2042 | 5,978,134 | 0.1 | |||||||
| 1,812,293 | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | 1,806,262 | 0.0 | |||||||
| 4,608,278 (3)(6) | Fannie Mae REMIC Trust 2011-47 GS, 0.535%, (-1.000*SOFR30A + 5.816%), 06/25/2041 | 334,012 | 0.0 | |||||||
| 1,981,028 | Fannie Mae REMIC Trust 2011-8 ZA, 4.000%, 02/25/2041 | 1,933,030 | 0.0 | |||||||
| 6,619,625 | Fannie Mae REMIC Trust 2011-84 Z, 5.250%, 09/25/2041 | 6,873,743 | 0.1 | |||||||
| 6,530,310 | Fannie Mae REMIC Trust 2011-87 GB, 4.500%, 09/25/2041 | 6,493,032 | 0.1 | |||||||
| 1,344,292 (3)(6) | Fannie Mae REMIC Trust 2011-93 GS, 1.155%, (-1.000*SOFR30A + 6.436%), 04/25/2039 | 147,172 | 0.0 | |||||||
| 6,532,758 | Fannie Mae REMIC Trust 2011-99 CZ, 4.500%, 10/25/2041 | 6,516,757 | 0.1 | |||||||
| 336,886 | Fannie Mae REMIC Trust 2012-110 CA, 3.000%, 10/25/2042 | 311,905 | 0.0 | |||||||
| 1,468,969 (3)(6) | Fannie Mae REMIC Trust 2012-111 SL, 0.705%, (-1.000*SOFR30A + 5.986%), 05/25/2041 | 138,822 | 0.0 | |||||||
| 2,734,048 | Fannie Mae REMIC Trust 2012-111 ZK, 3.500%, 10/25/2042 | 2,600,288 | 0.0 | |||||||
| 1,491,449 (6) | Fannie Mae REMIC Trust 2012-120 WI, 3.000%, 11/25/2027 | 43,395 | 0.0 | |||||||
| 2,624,229 (3)(6) | Fannie Mae REMIC Trust 2012-122 SB, 0.755%, (-1.000*SOFR30A + 6.036%), 11/25/2042 | 323,094 | 0.0 | |||||||
| 1,008,585 (6) | Fannie Mae REMIC Trust 2012-128 LI, 3.500%, 06/25/2042 | 49,622 | 0.0 | |||||||
| 3,208,560 (3)(6) | Fannie Mae REMIC Trust 2012-133 AS, 0.805%, (-1.000*SOFR30A + 6.086%), 10/25/2042 | 364,084 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
94
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 11,177,393 (3)(6) | Fannie Mae REMIC Trust 2012-133 NS, 0.755%, (-1.000*SOFR30A + 6.036%), 12/25/2042 | $ | 1,384,488 | 0.0 | ||||||
| 436,571 (6) | Fannie Mae REMIC Trust 2012-149 GI, 3.500%, 06/25/2042 | 36,002 | 0.0 | |||||||
| 10,220,459 | Fannie Mae REMIC Trust 2012-15 PZ, 4.000%, 03/25/2042 | 9,974,213 | 0.1 | |||||||
| 1,535,340 | Fannie Mae REMIC Trust 2012-153 B, 7.000%, 07/25/2042 | 1,696,714 | 0.0 | |||||||
| 3,517,598 | Fannie Mae REMIC Trust 2012-17 QZ, 4.000%, 03/25/2042 | 3,419,188 | 0.1 | |||||||
| 3,054,573 | Fannie Mae REMIC Trust 2012-2 HE, 4.000%, 02/25/2042 | 3,023,024 | 0.0 | |||||||
| 355,252 (3)(6) | Fannie Mae REMIC Trust 2012-24 HS, 1.155%, (-1.000*SOFR30A + 6.436%), 09/25/2040 | 8,087 | 0.0 | |||||||
| 732,838 | Fannie Mae REMIC Trust 2012-30 AB, 4.000%, 04/25/2042 | 721,654 | 0.0 | |||||||
| 1,071,775 | Fannie Mae REMIC Trust 2012-33 BW, 4.000%, 04/25/2042 | 1,044,597 | 0.0 | |||||||
| 3,492 | Fannie Mae REMIC Trust 2012-44 KW, 3.500%, 05/25/2032 | 3,327 | 0.0 | |||||||
| 1,485,161 | Fannie Mae REMIC Trust 2012-55 PC, 3.500%, 05/25/2042 | 1,416,555 | 0.0 | |||||||
| 7,613,767 | Fannie Mae REMIC Trust 2012-63 MW, 4.000%, 05/25/2034 | 7,562,587 | 0.1 | |||||||
| 5,919,751 | Fannie Mae REMIC Trust 2012-66 EP, 4.000%, 06/25/2042 | 5,666,334 | 0.1 | |||||||
| 360,648 (3)(6) | Fannie Mae REMIC Trust 2012-68 YS, 1.305%, (-1.000*SOFR30A + 6.586%), 07/25/2042 | 40,755 | 0.0 | |||||||
| 500,000 | Fannie Mae REMIC Trust 2012-80 MY, 3.250%, 08/25/2042 | 441,208 | 0.0 | |||||||
| 11,933,640 | Fannie Mae REMIC Trust 2012-94 LZ, 3.500%, 09/25/2042 | 11,370,657 | 0.1 | |||||||
| 1,940,949 | Fannie Mae REMIC Trust 2013-111 BA, 3.000%, 11/25/2033 | 1,869,314 | 0.0 | |||||||
| 1,114,791 | Fannie Mae REMIC Trust 2013-116 UB, 4.000%, 11/25/2043 | 1,083,190 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,403,000 | Fannie Mae REMIC Trust 2013-13 BE, 4.000%, 03/25/2043 | $ | 1,350,091 | 0.0 | ||||||
| 45,303 | Fannie Mae REMIC Trust 2013-16 GD, 3.000%, 03/25/2033 | 45,013 | 0.0 | |||||||
| 1,190,853 | Fannie Mae REMIC Trust 2013-20 DL, 4.000%, 03/25/2033 | 1,171,013 | 0.0 | |||||||
| 745,974 (3)(6) | Fannie Mae REMIC Trust 2013-26 JS, 0.805%, (-1.000*SOFR30A + 6.086%), 10/25/2032 | 35,922 | 0.0 | |||||||
| 3,268,210 (3)(6) | Fannie Mae REMIC Trust 2013-40 LS, 0.755%, (-1.000*SOFR30A + 6.036%), 05/25/2043 | 379,103 | 0.0 | |||||||
| 12,833,345 (6) | Fannie Mae REMIC Trust 2013-44 DI, 3.000%, 05/25/2033 | 1,060,349 | 0.0 | |||||||
| 3,277,464 (3)(6) | Fannie Mae REMIC Trust 2013-60 DS, 0.805%, (-1.000*SOFR30A + 6.086%), 06/25/2033 | 241,192 | 0.0 | |||||||
| 3,836,722 (6) | Fannie Mae REMIC Trust 2013-70 BI, 3.000%, 07/25/2033 | 310,671 | 0.0 | |||||||
| 4,166,126 | Fannie Mae REMIC Trust 2013-70 JZ, 3.000%, 07/25/2043 | 3,776,439 | 0.1 | |||||||
| 759,868 (3)(6) | Fannie Mae REMIC Trust 2013-72 YS, 0.755%, (-1.000*SOFR30A + 6.036%), 07/25/2033 | 53,592 | 0.0 | |||||||
| 3,071,203 (3)(6) | Fannie Mae REMIC Trust 2013-9 SM, 0.855%, (-1.000*SOFR30A + 6.136%), 02/25/2033 | 201,509 | 0.0 | |||||||
| 4,910,397 (3)(6) | Fannie Mae REMIC Trust 2014-15 SB, 1.255%, (-1.000*SOFR30A + 6.536%), 04/25/2044 | 654,298 | 0.0 | |||||||
| 531,794 (3)(6) | Fannie Mae REMIC Trust 2014-17 DS, 0.805%, (-1.000*SOFR30A + 6.086%), 02/25/2043 | 13,211 | 0.0 | |||||||
| 729,641 (3)(6) | Fannie Mae REMIC Trust 2014-28 BS, 0.805%, (-1.000*SOFR30A + 6.086%), 08/25/2043 | 44,117 | 0.0 | |||||||
| 970,000 | Fannie Mae REMIC Trust 2014-61 PY, 3.500%, 10/25/2044 | 866,576 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
95
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 4,887,159 (6) | Fannie Mae REMIC Trust 2014-70 IO, 5.500%, 10/25/2044 | $ | 803,556 | 0.0 | ||||||
| 21,160,482 (3)(6) | Fannie Mae REMIC Trust 2014-79 KS, 0.755%, (-1.000*SOFR30A + 6.036%), 12/25/2044 | 2,657,168 | 0.0 | |||||||
| 19,114,016 | Fannie Mae REMIC Trust 2015-20 EZ, 3.500%, 04/25/2045 | 18,079,009 | 0.2 | |||||||
| 3,349,371 (6) | Fannie Mae REMIC Trust 2015-56 IC, 6.000%, 08/25/2045 | 542,575 | 0.0 | |||||||
| 2,000,000 | Fannie Mae REMIC Trust 2015-67 AV, 3.500%, 01/25/2036 | 1,879,082 | 0.0 | |||||||
| 1,937,517 | Fannie Mae REMIC Trust 2015-67 QV, 3.000%, 12/25/2040 | 1,906,347 | 0.0 | |||||||
| 1,372,234 (6) | Fannie Mae REMIC Trust 2015-76 PI, 6.000%, 09/25/2045 | 207,559 | 0.0 | |||||||
| 22,185,370 (3)(6) | Fannie Mae REMIC Trust 2015-79 SA, 0.855%, (-1.000*SOFR30A + 6.136%), 11/25/2045 | 2,273,741 | 0.0 | |||||||
| 11,525,490 (3)(6) | Fannie Mae REMIC Trust 2015-86 BS, 0.305%, (-1.000*SOFR30A + 5.586%), 11/25/2045 | 778,300 | 0.0 | |||||||
| 20,080,803 (6) | Fannie Mae REMIC Trust 2015-88 IO, 6.500%, 12/25/2045 | 4,677,662 | 0.1 | |||||||
| 8,759,701 (6) | Fannie Mae REMIC Trust 2015-9 IO, 5.500%, 03/25/2045 | 1,760,815 | 0.0 | |||||||
| 4,197,814 (6) | Fannie Mae REMIC Trust 2015-97 BI, 5.500%, 01/25/2046 | 704,133 | 0.0 | |||||||
| 2,559,265 (6) | Fannie Mae REMIC Trust 2016-104 BI, 6.000%, 01/25/2047 | 443,973 | 0.0 | |||||||
| 4,341,548 (6) | Fannie Mae REMIC Trust 2016-52 MI, 4.000%, 12/25/2045 | 682,748 | 0.0 | |||||||
| 13,340,721 (3)(6) | Fannie Mae REMIC Trust 2016-60 SB, 0.705%, (-1.000*SOFR30A + 5.986%), 09/25/2046 | 1,265,273 | 0.0 | |||||||
| 16,307,234 (3)(6) | Fannie Mae REMIC Trust 2016-81 CS, 0.705%, (-1.000*SOFR30A + 5.986%), 11/25/2046 | 1,259,222 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 11,212,963 (3)(6) | Fannie Mae REMIC Trust 2016-82 SD, 0.655%, (-1.000*SOFR30A + 5.936%), 11/25/2046 | $ | 1,047,672 | 0.0 | ||||||
| 115,399 | Fannie Mae REMIC Trust 2016-88 EA, 3.500%, 01/25/2045 | 114,716 | 0.0 | |||||||
| 311,702 | Fannie Mae REMIC Trust 2016-9 D, 3.000%, 03/25/2046 | 289,624 | 0.0 | |||||||
| 14,861,997 (3)(6) | Fannie Mae REMIC Trust 2017-10 SA, 0.705%, (-1.000*SOFR30A + 5.986%), 03/25/2047 | 1,326,063 | 0.0 | |||||||
| 5,176,305 | Fannie Mae REMIC Trust 2017-108 ZD, 3.000%, 01/25/2048 | 4,295,186 | 0.1 | |||||||
| 4,119,381 | Fannie Mae REMIC Trust 2017-54 D, 3.000%, 07/25/2047 | 3,732,280 | 0.1 | |||||||
| 21,486,806 (3)(6) | Fannie Mae REMIC Trust 2018-15 SC, 0.905%, (-1.000*SOFR30A + 6.186%), 03/25/2048 | 2,251,813 | 0.0 | |||||||
| 3,172,368 | Fannie Mae REMIC Trust 2018-26 KA, 3.500%, 04/25/2048 | 2,936,495 | 0.0 | |||||||
| 976,310 | Fannie Mae REMIC Trust 2018-38 LA, 3.000%, 06/25/2048 | 894,523 | 0.0 | |||||||
| 9,621,069 | Fannie Mae REMIC Trust 2018-73 AB, 3.000%, 10/25/2048 | 8,818,411 | 0.1 | |||||||
| 1,001,232 | Fannie Mae REMIC Trust 2018-8 AB, 3.500%, 10/25/2047 | 948,791 | 0.0 | |||||||
| 26,628,820 (3)(6) | Fannie Mae REMIC Trust 2018-82 SA, 0.805%, (-1.000*SOFR30A + 6.086%), 11/25/2048 | 2,650,950 | 0.0 | |||||||
| 5,862,240 (3)(6) | Fannie Mae REMIC Trust 2018-86 AS, 0.805%, (-1.000*SOFR30A + 6.086%), 12/25/2048 | 468,062 | 0.0 | |||||||
| 26,957,613 (3)(6) | Fannie Mae REMIC Trust 2018-86 SM, 0.805%, (-1.000*SOFR30A + 6.086%), 12/25/2048 | 2,501,273 | 0.0 | |||||||
| 25,696,428 (3)(6) | Fannie Mae REMIC Trust 2018-91 SB, 0.705%, (-1.000*SOFR30A + 5.986%), 12/25/2058 | 3,347,864 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
96
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 8,886,245 (6) | Fannie Mae REMIC Trust 2019-21 AI, 5.000%, 05/25/2059 | $ | 2,558,280 | 0.0 | ||||||
| 7,667,192 (3)(6) | Fannie Mae REMIC Trust 2019-30 SB, 0.705%, (-1.000*SOFR30A + 5.986%), 07/25/2049 | 881,716 | 0.0 | |||||||
| 12,078,562 (3)(6) | Fannie Mae REMIC Trust 2019-34 BS, 0.655%, (-1.000*SOFR30A + 5.936%), 07/25/2049 | 1,518,541 | 0.0 | |||||||
| 6,046,346 (3)(6) | Fannie Mae REMIC Trust 2019-39 SA, 0.705%, (-1.000*SOFR30A + 5.986%), 08/25/2049 | 640,436 | 0.0 | |||||||
| 42,423,605 (3)(6) | Fannie Mae REMIC Trust 2019-41 S, 0.605%, (-1.000*SOFR30A + 5.886%), 08/25/2059 | 4,512,949 | 0.1 | |||||||
| 4,398,873 (3)(6) | Fannie Mae REMIC Trust 2019-47 SB, 0.705%, (-1.000*SOFR30A + 5.986%), 05/25/2040 | 440,110 | 0.0 | |||||||
| 11,831,558 (3)(6) | Fannie Mae REMIC Trust 2019-79 SB, 0.605%, (-1.000*SOFR30A + 5.886%), 01/25/2050 | 1,295,822 | 0.0 | |||||||
| 6,264,702 (3)(6) | Fannie Mae REMIC Trust 2020-10 SE, 0.605%, (-1.000*SOFR30A + 5.886%), 03/25/2050 | 686,126 | 0.0 | |||||||
| 45,605,452 (6) | Fannie Mae REMIC Trust 2020-34 IO, 4.500%, 06/25/2050 | 10,527,718 | 0.1 | |||||||
| 17,323,769 (6) | Fannie Mae REMIC Trust 2020-35 IO, 5.000%, 06/25/2050 | 2,645,102 | 0.0 | |||||||
| 20,425,127 (6) | Fannie Mae REMIC Trust 2020-44 DI, 2.500%, 07/25/2050 | 2,630,591 | 0.0 | |||||||
| 9,091,121 (6) | Fannie Mae REMIC Trust 2020-44 EI, 3.500%, 09/25/2042 | 1,411,236 | 0.0 | |||||||
| 8,508,372 (6) | Fannie Mae REMIC Trust 2020-53 CI, 4.500%, 08/25/2050 | 1,884,292 | 0.0 | |||||||
| 22,579,796 (6) | Fannie Mae REMIC Trust 2020-74 GI, 5.000%, 10/25/2050 | 4,531,406 | 0.1 | |||||||
| 54,851,287 (6) | Fannie Mae REMIC Trust 2020-87 AI, 2.000%, 12/25/2050 | 7,492,565 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 29,485,707 (6) | Fannie Mae REMIC Trust 2020-99 IB, 3.500%, 05/25/2050 | $ | 5,714,934 | 0.1 | ||||||
| 44,401,004 (6) | Fannie Mae REMIC Trust 2021-1 BI, 3.000%, 02/25/2049 | 7,221,903 | 0.1 | |||||||
| 137,415,071 (6) | Fannie Mae REMIC Trust 2021-10 AI, 3.000%, 03/25/2041 | 15,048,331 | 0.2 | |||||||
| 25,375,630 (6) | Fannie Mae REMIC Trust 2021-22 BI, 4.000%, 04/25/2051 | 5,278,430 | 0.1 | |||||||
| 32,967,084 (6) | Fannie Mae REMIC Trust 2021-41 MI, 5.000%, 06/25/2048 | 6,080,930 | 0.1 | |||||||
| 34,314,516 (3)(6) | Fannie Mae REMIC Trust 2021-55 SA, 0.153%, (-1.000*SOFR30A + 3.150%), 08/25/2061 | 765,052 | 0.0 | |||||||
| 75,231,588 (6) | Fannie Mae REMIC Trust 2021-77 AI, 3.500%, 11/25/2051 | 15,685,049 | 0.2 | |||||||
| 115,884,964 (6) | Fannie Mae REMIC Trust 2021-78 AI, 3.000%, 11/25/2051 | 19,965,508 | 0.2 | |||||||
| 24,121,345 (6) | Fannie Mae REMIC Trust 2021-8 TI, 4.000%, 03/25/2051 | 5,060,772 | 0.1 | |||||||
| 16,267,448 (6) | Fannie Mae REMIC Trust 2021-81 LI, 2.500%, 11/25/2051 | 2,324,923 | 0.0 | |||||||
| 59,173,856 (6) | Fannie Mae REMIC Trust 2021-93 AI, 3.000%, 01/25/2052 | 9,992,157 | 0.1 | |||||||
| 3,605,909 | Fannie Mae REMIC Trust 2022-55 PA, 4.000%, 10/25/2051 | 3,559,048 | 0.1 | |||||||
| 6,734,965 (6) | Fannie Mae REMIC Trust 2023-11 GI, 6.500%, 04/25/2053 | 1,225,587 | 0.0 | |||||||
| 29,486,276 (6) | Fannie Mae REMIC Trust 2023-2 HI, 6.500%, 02/25/2053 | 5,454,286 | 0.1 | |||||||
| 32,984,653 (6) | Fannie Mae REMIC Trust 2023-23 AI, 4.000%, 12/25/2051 | 6,930,504 | 0.1 | |||||||
| 84,329,337 (6) | Fannie Mae REMIC Trust 2024-7 IO, 3.000%, 07/25/2038 | 7,806,164 | 0.1 | |||||||
| 512,934 | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A11, 6.000%, 02/25/2037 | 205,110 | 0.0 | |||||||
| 1,080,101 (1)(3) | First Republic Mortgage Trust 2020-1 B2, 2.884%, 04/25/2050 | 942,270 | 0.0 | |||||||
| 1,619,027 (1)(3) | Flagstar Mortgage Trust 2018-1 B1, 3.939%, 03/25/2048 | 1,511,822 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
97
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,111,211 (1)(3) | Flagstar Mortgage Trust 2018-1 B3, 3.939%, 03/25/2048 | $ | 1,947,969 | 0.0 | ||||||
| 1,111,830 (1)(3) | Flagstar Mortgage Trust 2018-2 B2, 4.004%, 04/25/2048 | 1,031,502 | 0.0 | |||||||
| 659,117 (1)(3) | Flagstar Mortgage Trust 2018-3INV A3, 4.000%, 05/25/2048 | 626,327 | 0.0 | |||||||
| 848,061 (1)(3) | Flagstar Mortgage Trust 2018-4 B3, 4.143%, 07/25/2048 | 781,935 | 0.0 | |||||||
| 1,586,152 (1)(3) | Flagstar Mortgage Trust 2018-5 B3, 4.420%, 09/25/2048 | 1,476,555 | 0.0 | |||||||
| 2,645,228 (1)(3) | Flagstar Mortgage Trust 2018-6RR B3, 4.907%, 10/25/2048 | 2,575,260 | 0.0 | |||||||
| 1,320,825 (1)(3) | Flagstar Mortgage Trust 2019-2 B2, 3.999%, 12/25/2049 | 1,206,132 | 0.0 | |||||||
| 1,871,209 (1)(3) | Flagstar Mortgage Trust 2020-1INV B1A, 4.199%, 03/25/2050 | 1,724,823 | 0.0 | |||||||
| 2,264,956 (1)(3) | Flagstar Mortgage Trust 2020-1INV B2A, 4.199%, 03/25/2050 | 2,070,873 | 0.0 | |||||||
| 1,404,261 (1)(3) | Flagstar Mortgage Trust 2021-6INV B1, 3.485%, 08/25/2051 | 1,208,429 | 0.0 | |||||||
| 1,788,368 | Freddie Mac Reference REMIC R007 ZA, 6.000%, 05/15/2036 | 1,880,716 | 0.0 | |||||||
| 149,079 | Freddie Mac Reference REMIC R008 ZA, 6.000%, 07/15/2036 | 159,069 | 0.0 | |||||||
| 27,436 | Freddie Mac REMIC Trust 2110 PG, 6.000%, 01/15/2029 | 27,922 | 0.0 | |||||||
| 25,614 | Freddie Mac REMIC Trust 2114 ZM, 6.000%, 01/15/2029 | 25,985 | 0.0 | |||||||
| 202,402 | Freddie Mac REMIC Trust 2143 ZB, 6.000%, 04/15/2029 | 207,327 | 0.0 | |||||||
| 907 (3)(6) | Freddie Mac REMIC Trust 2301 SP, 3.793%, (-1.000*SOFR30A + 9.136%), 04/15/2031 | 9 | 0.0 | |||||||
| 113,629 | Freddie Mac REMIC Trust 2541 NE, 5.500%, 12/15/2032 | 118,167 | 0.0 | |||||||
| 32,776 (6) | Freddie Mac REMIC Trust 2594 IY, 6.000%, 04/15/2033 | 5,100 | 0.0 | |||||||
| 259,552 | Freddie Mac REMIC Trust 2845 QH, 5.000%, 08/15/2034 | 266,731 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 50,912 | Freddie Mac REMIC Trust 2861 Z, 5.500%, 09/15/2034 | $ | 52,460 | 0.0 | ||||||
| 90,412 | Freddie Mac REMIC Trust 2930 ZL, 5.000%, 02/15/2035 | 92,970 | 0.0 | |||||||
| 539,687 | Freddie Mac REMIC Trust 2931 ZY, 5.000%, 02/15/2035 | 556,268 | 0.0 | |||||||
| 14,907 (3)(6) | Freddie Mac REMIC Trust 2993 GS, 0.693%, (-1.000*SOFR30A + 6.036%), 06/15/2025 | 59 | 0.0 | |||||||
| 446,966 (3)(6) | Freddie Mac REMIC Trust 3006 SI, 1.283%, (-1.000*SOFR30A + 6.626%), 07/15/2035 | 43,669 | 0.0 | |||||||
| 397,656 (3)(6) | Freddie Mac REMIC Trust 3006 YI, 1.283%, (-1.000*SOFR30A + 6.626%), 07/15/2035 | 38,062 | 0.0 | |||||||
| 2,622,918 (3)(6) | Freddie Mac REMIC Trust 3045 DI, 1.273%, (-1.000*SOFR30A + 6.616%), 10/15/2035 | 234,202 | 0.0 | |||||||
| 525,017 | Freddie Mac REMIC Trust 3117 ZA, 5.500%, 02/15/2036 | 546,367 | 0.0 | |||||||
| 384,442 (3)(6) | Freddie Mac REMIC Trust 3171 PS, 1.028%, (-1.000*SOFR30A + 6.371%), 06/15/2036 | 29,730 | 0.0 | |||||||
| 2,907,394 (3)(6) | Freddie Mac REMIC Trust 3199 S, 0.993%, (-1.000*SOFR30A + 6.336%), 08/15/2036 | 286,706 | 0.0 | |||||||
| 2,587,940 (3)(6) | Freddie Mac REMIC Trust 3213 JS, 1.743%, (-1.000*SOFR30A + 7.086%), 09/15/2036 | 311,898 | 0.0 | |||||||
| 8,834,925 (3)(6) | Freddie Mac REMIC Trust 3346 SC, 1.093%, (-1.000*SOFR30A + 6.436%), 10/15/2033 | 754,913 | 0.0 | |||||||
| 240,628 | Freddie Mac REMIC Trust 3351 ZC, 5.500%, 07/15/2037 | 249,534 | 0.0 | |||||||
| 680,740 (3)(6) | Freddie Mac REMIC Trust 3375 QI, 0.600%, (-1.000*SOFR30A + 63.455%), 10/15/2037 | 13,526 | 0.0 | |||||||
| 47,348 | Freddie Mac REMIC Trust 3394 ZY, 6.000%, 11/15/2037 | 49,740 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
98
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 4,307,813 (3)(6) | Freddie Mac REMIC Trust 3510 AS, 0.953%, (-1.000*SOFR30A + 6.296%), 04/15/2037 | $ | 438,679 | 0.0 | ||||||
| 116,181 (3)(6) | Freddie Mac REMIC Trust 3524 LA, 4.935%, 03/15/2033 | 116,745 | 0.0 | |||||||
| 7,328 (3) | Freddie Mac REMIC Trust 3556 NT, 8.557%, (SOFR30A + 3.214%), 03/15/2038 | 7,629 | 0.0 | |||||||
| 4,784,209 (3)(6) | Freddie Mac REMIC Trust 3629 CS, 0.893%, (-1.000*SOFR30A + 6.236%), 01/15/2040 | 507,030 | 0.0 | |||||||
| 2,677,163 | Freddie Mac REMIC Trust 3639 ZN, 5.500%, 12/15/2034 | 2,810,957 | 0.0 | |||||||
| 233,497 | Freddie Mac REMIC Trust 3662 ZB, 5.500%, 08/15/2036 | 246,001 | 0.0 | |||||||
| 182,389 | Freddie Mac REMIC Trust 3724 CM, 5.500%, 06/15/2037 | 192,615 | 0.0 | |||||||
| 1,774,561 | Freddie Mac REMIC Trust 3736 ZP, 4.000%, 10/15/2040 | 1,750,913 | 0.0 | |||||||
| 1,347,591 | Freddie Mac REMIC Trust 3740 KE, 4.000%, 10/15/2040 | 1,330,094 | 0.0 | |||||||
| 15,789,105 | Freddie Mac REMIC Trust 3753 KZ, 4.500%, 11/15/2040 | 15,911,679 | 0.2 | |||||||
| 4,129,548 | Freddie Mac REMIC Trust 3775 GZ, 4.500%, 12/15/2040 | 4,010,191 | 0.1 | |||||||
| 1,900,000 | Freddie Mac REMIC Trust 3820 NC, 4.500%, 03/15/2041 | 1,896,310 | 0.0 | |||||||
| 890,735 | Freddie Mac REMIC Trust 3843 JZ, 5.100%, 04/15/2041 | 905,435 | 0.0 | |||||||
| 329,200 | Freddie Mac REMIC Trust 3848 WX, 5.000%, 04/15/2041 | 341,818 | 0.0 | |||||||
| 530,951 (3)(6) | Freddie Mac REMIC Trust 3856 KS, 1.093%, (-1.000*SOFR30A + 6.436%), 05/15/2041 | 59,615 | 0.0 | |||||||
| 2,650,000 | Freddie Mac REMIC Trust 3890 ME, 5.000%, 07/15/2041 | 2,725,364 | 0.0 | |||||||
| 1,618,918 | Freddie Mac REMIC Trust 3893 PU, 4.000%, 07/15/2041 | 1,599,538 | 0.0 | |||||||
| 3,284,569 | Freddie Mac REMIC Trust 3919 BY, 4.000%, 09/15/2041 | 3,244,643 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 6,528,526 | Freddie Mac REMIC Trust 3919 ZB, 4.000%, 09/15/2041 | $ | 6,422,459 | 0.1 | ||||||
| 2,602,710 | Freddie Mac REMIC Trust 3923 GY, 4.000%, 09/15/2041 | 2,570,950 | 0.0 | |||||||
| 156,631 (3)(6) | Freddie Mac REMIC Trust 3925 SD, 0.593%, (-1.000*SOFR30A + 5.936%), 07/15/2040 | 4,122 | 0.0 | |||||||
| 619,379 (3)(6) | Freddie Mac REMIC Trust 3925 SL, 0.593%, (-1.000*SOFR30A + 5.936%), 01/15/2041 | 10,976 | 0.0 | |||||||
| 1,231,328 | Freddie Mac REMIC Trust 3934 CB, 4.000%, 10/15/2041 | 1,205,797 | 0.0 | |||||||
| 488,452 | Freddie Mac REMIC Trust 3934 KB, 5.000%, 10/15/2041 | 506,961 | 0.0 | |||||||
| 4,255,901 | Freddie Mac REMIC Trust 3982 LZ, 4.000%, 01/15/2042 | 4,155,220 | 0.1 | |||||||
| 659,761 | Freddie Mac REMIC Trust 3997 PB, 4.000%, 02/15/2042 | 652,093 | 0.0 | |||||||
| 110,327 | Freddie Mac REMIC Trust 4000 PA, 4.500%, 01/15/2042 | 111,433 | 0.0 | |||||||
| 2,084,974 (3)(6) | Freddie Mac REMIC Trust 4057 SN, 1.193%, (-1.000*SOFR30A + 6.536%), 12/15/2041 | 173,539 | 0.0 | |||||||
| 2,234,083 | Freddie Mac REMIC Trust 4057 ZB, 3.500%, 06/15/2042 | 2,137,699 | 0.0 | |||||||
| 9,996,554 | Freddie Mac REMIC Trust 4084 TZ, 4.000%, 07/15/2042 | 9,857,993 | 0.1 | |||||||
| 624,329 (3)(6) | Freddie Mac REMIC Trust 4088 CS, 0.543%, (-1.000*SOFR30A + 5.886%), 08/15/2042 | 69,673 | 0.0 | |||||||
| 1,119,215 (3)(6) | Freddie Mac REMIC Trust 4090 SN, 1.243%, (-1.000*SOFR30A + 6.586%), 08/15/2032 | 87,357 | 0.0 | |||||||
| 443,239 | Freddie Mac REMIC Trust 4100 JA, 3.500%, 10/15/2041 | 430,869 | 0.0 | |||||||
| 3,083,665 (6) | Freddie Mac REMIC Trust 4161 WI, 3.000%, 02/15/2033 | 233,077 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
99
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 3,206,442 (3)(6) | Freddie Mac REMIC Trust 4191 SA, 0.743%, (-1.000*SOFR30A + 6.086%), 03/15/2043 | $ | 290,123 | 0.0 | ||||||
| 2,128,000 | Freddie Mac REMIC Trust 4193 BP, 4.000%, 04/15/2043 | 1,978,362 | 0.0 | |||||||
| 1,671,989 (6) | Freddie Mac REMIC Trust 4194 GI, 4.000%, 04/15/2043 | 265,244 | 0.0 | |||||||
| 2,591,243 | Freddie Mac REMIC Trust 4203 BN, 3.000%, 04/15/2033 | 2,515,722 | 0.0 | |||||||
| 2,080,000 | Freddie Mac REMIC Trust 4235 QD, 3.000%, 08/15/2033 | 2,010,133 | 0.0 | |||||||
| 861,053 | Freddie Mac REMIC Trust 4246 ZX, 4.500%, 04/15/2041 | 867,539 | 0.0 | |||||||
| 684,498 (6) | Freddie Mac REMIC Trust 4293 KI, 4.500%, 08/15/2043 | 81,277 | 0.0 | |||||||
| 18,237,446 (3)(6) | Freddie Mac REMIC Trust 4301 SD, 0.643%, (-1.000*SOFR30A + 5.986%), 07/15/2037 | 1,477,578 | 0.0 | |||||||
| 7,188,841 | Freddie Mac REMIC Trust 4310 BZ, 4.000%, 02/15/2044 | 7,023,402 | 0.1 | |||||||
| 4,416,422 | Freddie Mac REMIC Trust 4316 XZ, 4.500%, 03/15/2044 | 4,446,505 | 0.1 | |||||||
| 7,234,556 | Freddie Mac REMIC Trust 4335 XZ, 4.250%, 05/15/2044 | 7,198,052 | 0.1 | |||||||
| 4,349,626 | Freddie Mac REMIC Trust 4335 ZX, 4.250%, 05/15/2044 | 4,297,061 | 0.1 | |||||||
| 9,840,217 | Freddie Mac REMIC Trust 4348 ZX, 4.250%, 06/15/2044 | 9,802,295 | 0.1 | |||||||
| 112,286 | Freddie Mac REMIC Trust 4370 AD, 3.000%, 08/15/2040 | 111,728 | 0.0 | |||||||
| 2,248,634 (3)(6) | Freddie Mac REMIC Trust 4386 LS, 0.643%, (-1.000*SOFR30A + 5.986%), 09/15/2044 | 241,360 | 0.0 | |||||||
| 2,329,817 | Freddie Mac REMIC Trust 4401 BL, 3.500%, 10/15/2034 | 2,285,625 | 0.0 | |||||||
| 7,500,510 (3)(6) | Freddie Mac REMIC Trust 4407 CS, 0.743%, (-1.000*SOFR30A + 6.086%), 06/15/2044 | 636,557 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 10,741,076 (3)(6) | Freddie Mac REMIC Trust 4407 PS, 0.143%, (-1.000*SOFR30A + 5.486%), 06/15/2044 | $ | 704,710 | 0.0 | ||||||
| 6,663,062 | Freddie Mac REMIC Trust 4444 CZ, 3.000%, 02/15/2045 | 5,917,460 | 0.1 | |||||||
| 10,511,816 (3)(6) | Freddie Mac REMIC Trust 4461 AS, 0.143%, (-1.000*SOFR30A + 5.486%), 04/15/2045 | 822,591 | 0.0 | |||||||
| 3,124,000 | Freddie Mac REMIC Trust 4492 VB, 3.500%, 05/15/2035 | 3,017,630 | 0.0 | |||||||
| 2,913,000 | Freddie Mac REMIC Trust 4505 PB, 3.000%, 08/15/2045 | 2,596,919 | 0.0 | |||||||
| 8,068,266 | Freddie Mac REMIC Trust 4545 PL, 3.500%, 01/15/2046 | 7,335,260 | 0.1 | |||||||
| 10,338,988 (3)(6) | Freddie Mac REMIC Trust 4574 ST, 0.543%, (-1.000*SOFR30A + 5.886%), 04/15/2046 | 1,277,828 | 0.0 | |||||||
| 51,026,311 (3)(6) | Freddie Mac REMIC Trust 4585 AS, 0.643%, (-1.000*SOFR30A + 5.986%), 05/15/2046 | 4,802,678 | 0.1 | |||||||
| 4,203,783 | Freddie Mac REMIC Trust 4608 JV, 3.500%, 01/15/2055 | 3,361,132 | 0.1 | |||||||
| 14,488,444 (3)(6) | Freddie Mac REMIC Trust 4611 BS, 0.643%, (-1.000*SOFR30A + 5.986%), 06/15/2041 | 1,425,348 | 0.0 | |||||||
| 9,584,787 | Freddie Mac REMIC Trust 4664 KZ, 3.500%, 02/15/2047 | 9,004,275 | 0.1 | |||||||
| 6,027,076 | Freddie Mac REMIC Trust 4680 GZ, 3.500%, 03/15/2047 | 5,551,389 | 0.1 | |||||||
| 5,456,925 | Freddie Mac REMIC Trust 4682 HZ, 3.500%, 04/15/2047 | 5,124,790 | 0.1 | |||||||
| 2,327,031 | Freddie Mac REMIC Trust 4700 KZ, 3.500%, 07/15/2047 | 2,146,162 | 0.0 | |||||||
| 4,273,843 | Freddie Mac REMIC Trust 4753 VZ, 3.000%, 12/15/2047 | 3,485,991 | 0.1 | |||||||
| 3,499,299 | Freddie Mac REMIC Trust 4755 Z, 3.000%, 02/15/2048 | 3,096,155 | 0.1 | |||||||
| 37,761,070 | Freddie Mac REMIC Trust 4771 HZ, 3.500%, 03/15/2048 | 34,917,404 | 0.4 | |||||||
See Accompanying Notes to Financial Statements
100
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 13,508,200 | Freddie Mac REMIC Trust 4776 AZ, 4.000%, 07/15/2047 | $ | 13,038,059 | 0.2 | ||||||
| 366,712 | Freddie Mac REMIC Trust 4787 PY, 4.000%, 05/15/2048 | 354,011 | 0.0 | |||||||
| 7,007,466 | Freddie Mac REMIC Trust 4795 D, 5.000%, 05/15/2048 | 6,990,169 | 0.1 | |||||||
| 1,838,321 | Freddie Mac REMIC Trust 4834 AZ, 3.500%, 10/15/2048 | 1,731,863 | 0.0 | |||||||
| 25,871,031 (3)(6) | Freddie Mac REMIC Trust 4879 DS, 0.643%, (-1.000*SOFR30A + 5.986%), 08/15/2034 | 1,826,096 | 0.0 | |||||||
| 24,520,428 (3)(6) | Freddie Mac REMIC Trust 4892 SA, 0.593%, (-1.000*SOFR30A + 5.936%), 07/15/2049 | 3,010,035 | 0.0 | |||||||
| 1,632,872 | Freddie Mac REMIC Trust 4904 HB, 3.000%, 08/25/2049 | 1,260,019 | 0.0 | |||||||
| 6,710,413 (3)(6) | Freddie Mac REMIC Trust 4906 SQ, 0.655%, (-1.000*SOFR30A + 5.936%), 09/25/2049 | 817,668 | 0.0 | |||||||
| 606,535 | Freddie Mac REMIC Trust 4914 DB, 3.000%, 09/25/2049 | 436,444 | 0.0 | |||||||
| 2,305,896 | Freddie Mac REMIC Trust 4941 CZ, 3.000%, 11/25/2049 | 2,069,120 | 0.0 | |||||||
| 2,640,727 | Freddie Mac REMIC Trust 4941 WZ, 3.000%, 11/25/2049 | 2,355,307 | 0.0 | |||||||
| 4,290,674 | Freddie Mac REMIC Trust 4950 KE, 2.500%, 12/25/2049 | 3,768,669 | 0.1 | |||||||
| 50,239,978 (6) | Freddie Mac REMIC Trust 4980 KI, 4.500%, 06/25/2050 | 11,086,778 | 0.1 | |||||||
| 50,709,059 (6) | Freddie Mac REMIC Trust 4998 AI, 3.500%, 12/25/2049 | 10,991,452 | 0.1 | |||||||
| 44,550,720 (6) | Freddie Mac REMIC Trust 5014 HI, 4.000%, 09/25/2050 | 9,296,265 | 0.1 | |||||||
| 28,373,360 (6) | Freddie Mac REMIC Trust 5019 HI, 3.500%, 10/25/2050 | 5,499,217 | 0.1 | |||||||
| 22,053,680 (3)(6) | Freddie Mac REMIC Trust 5045 BS, 0.920%, (-1.000*SOFR30A + 6.200%), 11/25/2050 | 3,453,919 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 92,380,042 (6) | Freddie Mac REMIC Trust 5051 BI, 3.000%, 11/25/2050 | $ | 16,049,702 | 0.2 | ||||||
| 46,372,702 (6) | Freddie Mac REMIC Trust 5057 IT, 3.000%, 11/25/2050 | 8,129,418 | 0.1 | |||||||
| 26,765,940 (6) | Freddie Mac REMIC Trust 5072 NI, 3.000%, 01/25/2050 | 4,612,829 | 0.1 | |||||||
| 53,727,787 (6) | Freddie Mac REMIC Trust 5072 QI, 3.500%, 10/25/2050 | 11,676,187 | 0.1 | |||||||
| 76,368,459 (6) | Freddie Mac REMIC Trust 5082 IQ, 3.000%, 03/25/2051 | 13,148,464 | 0.2 | |||||||
| 18,852,629 (6) | Freddie Mac REMIC Trust 5103 HI, 4.000%, 05/25/2051 | 3,873,846 | 0.1 | |||||||
| 19,867,922 (6) | Freddie Mac REMIC Trust 5113 AI, 4.000%, 06/25/2041 | 3,117,126 | 0.1 | |||||||
| 18,606,504 (6) | Freddie Mac REMIC Trust 5114 CI, 4.000%, 01/25/2050 | 3,776,155 | 0.1 | |||||||
| 61,987,196 (6) | Freddie Mac REMIC Trust 5117 IO, 3.000%, 06/25/2051 | 9,005,339 | 0.1 | |||||||
| 25,588,152 (6) | Freddie Mac REMIC Trust 5122 AI, 4.500%, 07/25/2051 | 5,863,351 | 0.1 | |||||||
| 42,883,821 (6) | Freddie Mac REMIC Trust 5125 MI, 4.500%, 11/25/2048 | 10,842,334 | 0.1 | |||||||
| 23,550,406 (6) | Freddie Mac REMIC Trust 5128 IC, 5.500%, 09/25/2041 | 4,703,532 | 0.1 | |||||||
| 52,364,129 (6) | Freddie Mac REMIC Trust 5152 IQ, 4.500%, 10/25/2051 | 12,058,213 | 0.1 | |||||||
| 64,067,356 (6) | Freddie Mac REMIC Trust 5200 IC, 4.000%, 03/25/2051 | 13,384,933 | 0.2 | |||||||
| 1,345,253 | Freddie Mac REMIC Trust 5228 EC, 4.000%, 02/25/2050 | 1,304,437 | 0.0 | |||||||
| 39,196,330 (6) | Freddie Mac REMIC Trust 5322 IO, 4.000%, 09/25/2051 | 8,224,746 | 0.1 | |||||||
| 1,000,000 (1)(3) | Freddie Mac STACR REMIC Trust 2021-DNA7 M2, 7.080%, (SOFR30A + 1.800%), 11/25/2041 | 1,011,170 | 0.0 | |||||||
| 6,500,000 (1)(3) | Freddie Mac STACR REMIC Trust 2021-HQA3 M2, 7.380%, (SOFR30A + 2.100%), 09/25/2041 | 6,557,425 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
101
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 15,000,000 (1)(3) | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 9.030%, (SOFR30A + 3.750%), 12/25/2041 | $ | 15,454,719 | 0.2 | ||||||
| 10,000,000 (1)(3) | Freddie Mac STACR REMIC Trust 2021-HQA4 M2, 7.630%, (SOFR30A + 2.350%), 12/25/2041 | 10,140,062 | 0.1 | |||||||
| 13,500,000 (1)(3) | Freddie Mac STACR REMIC Trust 2022-DNA1 B1, 8.680%, (SOFR30A + 3.400%), 01/25/2042 | 13,954,889 | 0.2 | |||||||
| 9,200,000 (1)(3) | Freddie Mac STACR REMIC Trust 2022-DNA1 M1B, 7.130%, (SOFR30A + 1.850%), 01/25/2042 | 9,334,635 | 0.1 | |||||||
| 7,000,000 (1)(3) | Freddie Mac STACR REMIC Trust 2022-DNA1 M2, 7.780%, (SOFR30A + 2.500%), 01/25/2042 | 7,162,372 | 0.1 | |||||||
| 1,400,000 (1)(3) | Freddie Mac STACR REMIC Trust 2022-DNA2 B1, 10.030%, (SOFR30A + 4.750%), 02/25/2042 | 1,483,288 | 0.0 | |||||||
| 10,400,000 (1)(3) | Freddie Mac STACR REMIC Trust 2022-DNA2 M2, 9.030%, (SOFR30A + 3.750%), 02/25/2042 | 10,939,745 | 0.1 | |||||||
| 1,150,000 (1)(3) | Freddie Mac STACR REMIC Trust 2022-HQA3 M2, 10.630%, (SOFR30A + 5.350%), 08/25/2042 | 1,254,846 | 0.0 | |||||||
| 1,800,000 (1)(3) | Freddie Mac STACR REMIC Trust 2023-HQA3 M2, 8.630%, (SOFR30A + 3.350%), 11/25/2043 | 1,884,191 | 0.0 | |||||||
| 10,000,000 (1)(3) | Freddie Mac STACR REMIC Trust 2024-HQA2 M2, 7.080%, (SOFR30A + 1.800%), 08/25/2044 | 10,081,250 | 0.1 | |||||||
| 2,182,505 | Freddie Mac Strips 277 30, 3.000%, 09/15/2042 | 2,008,692 | 0.0 | |||||||
| 4,735,899 (6) | Freddie Mac Strips 303 C17, 3.500%, 01/15/2043 | 822,669 | 0.0 | |||||||
| 23,651,054 (3)(6) | Freddie Mac Strips 311 S1, 0.493%, (-1.000*SOFR30A + 5.836%), 08/15/2043 | 2,728,464 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 8,600,665 | Freddie Mac Strips 326 350, 3.500%, 03/15/2044 | $ | 8,140,656 | 0.1 | ||||||
| 718,153 (3)(6) | Freddie Mac Strips 344 68, 3.000%, 02/15/2045 | 85,768 | 0.0 | |||||||
| 216,235 (3)(6) | Freddie Mac Strips 344 89, 4.500%, 02/15/2045 | 38,384 | 0.0 | |||||||
| 2,944,755 (6) | Freddie Mac Strips 344 C13, 4.500%, 02/15/2045 | 597,224 | 0.0 | |||||||
| 4,420,250 (6) | Freddie Mac Strips 344 C17, 4.000%, 02/15/2045 | 825,753 | 0.0 | |||||||
| 2,166,977 (3)(6) | Freddie Mac Strips 344 C18, 4.000%, 02/15/2045 | 353,415 | 0.0 | |||||||
| 2,646,473 (3)(6) | Freddie Mac Strips 344 C19, 3.500%, 02/15/2045 | 342,046 | 0.0 | |||||||
| 4,265,123 (6) | Freddie Mac Strips 344 C2, 4.000%, 02/15/2045 | 794,577 | 0.0 | |||||||
| 3,637,826 (6) | Freddie Mac Strips 344 C4, 4.000%, 02/15/2045 | 699,104 | 0.0 | |||||||
| 6,215,142 (6) | Freddie Mac Strips 344 C5, 3.500%, 02/15/2045 | 1,114,128 | 0.0 | |||||||
| 6,403,767 (6) | Freddie Mac Strips 344 C6, 4.000%, 02/15/2045 | 1,275,500 | 0.0 | |||||||
| 3,546,465 (6) | Freddie Mac Strips 344 C7, 4.000%, 02/15/2045 | 687,494 | 0.0 | |||||||
| 2,613,634 (6) | Freddie Mac Strips 344 C8, 3.500%, 02/15/2045 | 436,960 | 0.0 | |||||||
| 3,197,500 (6) | Freddie Mac Strips 344 C9, 3.500%, 02/15/2045 | 533,418 | 0.0 | |||||||
| 7,395,876 (6) | Freddie Mac Strips 347 C14, 3.500%, 02/15/2044 | 1,317,478 | 0.0 | |||||||
| 4,372,595 (6) | Freddie Mac Strips 347 C22, 4.000%, 02/15/2044 | 794,434 | 0.0 | |||||||
| 4,761,402 (6) | Freddie Mac Strips 347 C23, 4.000%, 02/15/2044 | 902,539 | 0.0 | |||||||
| 4,577,504 (6) | Freddie Mac Strips 347 C24, 4.000%, 02/15/2044 | 853,585 | 0.0 | |||||||
| 4,059,727 (6) | Freddie Mac Strips 347 C25, 4.000%, 02/15/2044 | 792,642 | 0.0 | |||||||
| 5,655,369 (6) | Freddie Mac Strips 347 C26, 4.000%, 02/15/2044 | 1,091,974 | 0.0 | |||||||
| 5,063,891 (6) | Freddie Mac Strips 347 C28, 4.500%, 02/15/2044 | 1,039,141 | 0.0 | |||||||
| 8,624,155 (6) | Freddie Mac Strips 347 C5, 3.000%, 05/15/2043 | 1,359,383 | 0.0 | |||||||
| 17,637,340 (6) | Freddie Mac Strips 365 C23, 3.500%, 10/15/2047 | 3,067,634 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
102
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 757,066 (3) | Freddie Mac Structured Pass-Through Certificates T-48 1A, 4.398%, 07/25/2033 | $ | 730,779 | 0.0 | ||||||
| 2,554,588 | Freddie Mac Whole Loan Securities Trust 2017-SC01 1A, 3.000%, 12/25/2046 | 2,220,025 | 0.0 | |||||||
| 2,320,551 | Freddie Mac Whole Loan Securities Trust 2017-SC01 2A, 3.500%, 12/25/2046 | 2,082,328 | 0.0 | |||||||
| 502,226 (1)(3) | Galton Funding Mortgage Trust 2018-2 A51, 4.500%, 10/25/2058 | 492,525 | 0.0 | |||||||
| 3,620,397 (1)(3) | Galton Funding Mortgage Trust 2018-2 B2, 4.750%, 10/25/2058 | 3,523,296 | 0.1 | |||||||
| 939,737 (3)(6) | Ginnie Mae 2005-37 SI, 1.075%, (-1.000*TSFR1M + 6.036%), 05/20/2035 | 73,720 | 0.0 | |||||||
| 197,970 (3)(6) | Ginnie Mae 2005-7 AH, 1.559%, (-1.000*TSFR1M + 6.656%), 02/16/2035 | 16,076 | 0.0 | |||||||
| 4,280,652 (3)(6) | Ginnie Mae 2007-17 IC, 1.039%, (-1.000*TSFR1M + 6.136%), 04/16/2037 | 251,895 | 0.0 | |||||||
| 787,126 (3)(6) | Ginnie Mae 2007-23 ST, 1.125%, (-1.000*TSFR1M + 6.086%), 04/20/2037 | 72,996 | 0.0 | |||||||
| 1,009,027 (3)(6) | Ginnie Mae 2007-40 SE, 1.675%, (-1.000*TSFR1M + 6.636%), 07/20/2037 | 113,991 | 0.0 | |||||||
| 5,085,107 (3)(6) | Ginnie Mae 2007-41 SL, 1.625%, (-1.000*TSFR1M + 6.586%), 07/20/2037 | 509,670 | 0.0 | |||||||
| 642,479 (3)(6) | Ginnie Mae 2007-7 EI, 1.125%, (-1.000*TSFR1M + 6.086%), 02/20/2037 | 59,756 | 0.0 | |||||||
| 594,259 (3)(6) | Ginnie Mae 2008-2 SW, 1.475%, (-1.000*TSFR1M + 6.436%), 01/20/2038 | 63,748 | 0.0 | |||||||
| 294,888 (3)(6) | Ginnie Mae 2008-35 SN, 1.325%, (-1.000*TSFR1M + 6.286%), 04/20/2038 | 24,651 | 0.0 | |||||||
| 150,068 (3)(6) | Ginnie Mae 2008-40 PS, 1.289%, (-1.000*TSFR1M + 6.386%), 05/16/2038 | 10,604 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 464,854 (3)(6) | Ginnie Mae 2009-25 KS, 1.125%, (-1.000*TSFR1M + 6.086%), 04/20/2039 | $ | 45,591 | 0.0 | ||||||
| 357,876 | Ginnie Mae 2009-29 PB, 4.750%, 05/20/2039 | 364,141 | 0.0 | |||||||
| 324,602 | Ginnie Mae 2009-31 ZL, 4.500%, 05/20/2039 | 326,506 | 0.0 | |||||||
| 7,236,018 | Ginnie Mae 2009-33 ZB, 6.000%, 05/20/2039 | 7,621,544 | 0.1 | |||||||
| 710,916 | Ginnie Mae 2009-34 Z, 4.500%, 05/16/2039 | 717,116 | 0.0 | |||||||
| 670,866 | Ginnie Mae 2009-98 DA, 3.250%, 07/16/2039 | 657,781 | 0.0 | |||||||
| 1,922,189 | Ginnie Mae 2010-108 WL, 4.000%, 04/16/2040 | 1,900,167 | 0.0 | |||||||
| 2,358,344 (3)(6) | Ginnie Mae 2010-11 SA, 1.209%, (-1.000*TSFR1M + 6.306%), 01/16/2040 | 235,822 | 0.0 | |||||||
| 684,534 (3)(6) | Ginnie Mae 2010-116 NS, 1.439%, (-1.000*TSFR1M + 6.536%), 09/16/2040 | 58,050 | 0.0 | |||||||
| 2,557,499 (3)(6) | Ginnie Mae 2010-116 SK, 1.545%, (-1.000*TSFR1M + 6.506%), 08/20/2040 | 259,338 | 0.0 | |||||||
| 1,006,140 (3)(6) | Ginnie Mae 2010-14 SB, 1.725%, (-1.000*TSFR1M + 6.686%), 11/20/2035 | 105,204 | 0.0 | |||||||
| 1,155,508 (3)(6) | Ginnie Mae 2010-149 HS, 0.889%, (-1.000*TSFR1M + 5.986%), 05/16/2040 | 16,229 | 0.0 | |||||||
| 288,983 | Ginnie Mae 2010-164 MD, 4.000%, 12/20/2040 | 283,710 | 0.0 | |||||||
| 1,017,647 (6) | Ginnie Mae 2010-168 BI, 5.000%, 04/20/2040 | 157,544 | 0.0 | |||||||
| 631,888 (3)(6) | Ginnie Mae 2010-68 MS, 0.775%, (-1.000*TSFR1M + 5.736%), 06/20/2040 | 62,817 | 0.0 | |||||||
| 645,509 (6) | Ginnie Mae 2010-99 IT, 5.000%, 08/16/2040 | 83,874 | 0.0 | |||||||
| 784,900 | Ginnie Mae 2011-52 PA, 4.250%, 02/16/2041 | 782,225 | 0.0 | |||||||
| 1,498,388 (3)(6) | Ginnie Mae 2011-72 SA, 0.139%, (-1.000*TSFR1M + 5.236%), 05/16/2041 | 112,862 | 0.0 | |||||||
| 139,061 (6) | Ginnie Mae 2012-91 QI, 4.500%, 09/20/2041 | 10,981 | 0.0 | |||||||
| 534,067 | Ginnie Mae 2013-116 KB, 3.500%, 12/20/2042 | 525,967 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
103
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,729,398 (6) | Ginnie Mae 2013-167 PI, 5.500%, 11/20/2043 | $ | 405,232 | 0.0 | ||||||
| 7,619,973 | Ginnie Mae 2013-170 ZD, 2.500%, 11/16/2043 | 6,808,269 | 0.1 | |||||||
| 65,838 | Ginnie Mae 2013-27 KA, 2.250%, 02/20/2043 | 61,525 | 0.0 | |||||||
| 331,939 | Ginnie Mae 2013-69 KA, 1.250%, 08/20/2042 | 295,638 | 0.0 | |||||||
| 16,439 (6) | Ginnie Mae 2014-10 GI, 4.500%, 01/16/2029 | 145 | 0.0 | |||||||
| 2,108,772 (3)(6) | Ginnie Mae 2014-185 SB, 0.525%, (-1.000*TSFR1M + 5.486%), 12/20/2044 | 169,562 | 0.0 | |||||||
| 1,297,533 (3)(6) | Ginnie Mae 2014-3 QS, 1.075%, (-1.000*TSFR1M + 6.036%), 03/20/2043 | 77,745 | 0.0 | |||||||
| 3,572,543 (3)(6) | Ginnie Mae 2014-3 SU, 0.975%, (-1.000*TSFR1M + 5.936%), 07/20/2039 | 338,585 | 0.0 | |||||||
| 1,955,765 (3)(6) | Ginnie Mae 2014-56 SP, 0.989%, (-1.000*TSFR1M + 6.086%), 12/16/2039 | 157,159 | 0.0 | |||||||
| 4,942,376 (3)(6) | Ginnie Mae 2014-58 SG, 0.389%, (-1.000*TSFR1M + 5.486%), 04/16/2044 | 322,014 | 0.0 | |||||||
| 842,668 | Ginnie Mae 2015-27 PB, 3.000%, 08/20/2044 | 828,919 | 0.0 | |||||||
| 12,964,553 (3)(6) | Ginnie Mae 2016-160 GS, 1.025%, (-1.000*TSFR1M + 5.986%), 11/20/2046 | 1,613,452 | 0.0 | |||||||
| 366,611 | Ginnie Mae 2016-44 JA, 3.500%, 03/20/2046 | 341,963 | 0.0 | |||||||
| 27,269,934 (3)(6) | Ginnie Mae 2016-6 SB, 0.575%, (-1.000*TSFR1M + 5.536%), 01/20/2046 | 2,510,664 | 0.0 | |||||||
| 6,274,539 (3)(6) | Ginnie Mae 2017-101 SA, 1.125%, (-1.000*TSFR1M + 6.086%), 07/20/2047 | 880,523 | 0.0 | |||||||
| 13,517,874 (3)(6) | Ginnie Mae 2017-163 SH, 1.125%, (-1.000*TSFR1M + 6.086%), 11/20/2047 | 1,956,418 | 0.0 | |||||||
| 4,640,172 | Ginnie Mae 2018-1 LZ, 3.000%, 01/20/2048 | 3,762,159 | 0.1 | |||||||
| 350,813 | Ginnie Mae 2018-104 HZ, 3.500%, 08/20/2048 | 277,343 | 0.0 | |||||||
| 1,045,687 | Ginnie Mae 2018-120 DE, 3.500%, 09/20/2048 | 991,563 | 0.0 | |||||||
| 209,914 | Ginnie Mae 2018-122 GZ, 3.500%, 09/20/2048 | 175,741 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,410,284 | Ginnie Mae 2018-126 A, 3.500%, 09/20/2048 | $ | 1,320,506 | 0.0 | ||||||
| 210,732 | Ginnie Mae 2018-147 KZ, 3.750%, 10/20/2048 | 181,388 | 0.0 | |||||||
| 13,366,223 (3)(6) | Ginnie Mae 2018-167 CS, 1.025%, (-1.000*TSFR1M + 5.986%), 12/20/2048 | 1,524,256 | 0.0 | |||||||
| 176,532 | Ginnie Mae 2019-100 JB, 3.000%, 08/20/2049 | 137,587 | 0.0 | |||||||
| 532,322 | Ginnie Mae 2019-100 KB, 3.000%, 08/20/2049 | 414,009 | 0.0 | |||||||
| 1,349,931 | Ginnie Mae 2019-100 MC, 3.000%, 08/20/2049 | 1,026,740 | 0.0 | |||||||
| 82,005,622 (6) | Ginnie Mae 2019-129 AI, 3.500%, 10/20/2049 | 15,359,153 | 0.2 | |||||||
| 18,659,978 (3)(6) | Ginnie Mae 2019-159 SM, 0.975%, (-1.000*TSFR1M + 5.936%), 12/20/2049 | 2,642,341 | 0.0 | |||||||
| 1,081,376 | Ginnie Mae 2019-23 NG, 3.500%, 02/20/2049 | 867,324 | 0.0 | |||||||
| 71,326 | Ginnie Mae 2019-54 AB, 3.000%, 04/20/2049 | 57,411 | 0.0 | |||||||
| 798,785 | Ginnie Mae 2019-78 MB, 3.000%, 06/20/2049 | 617,584 | 0.0 | |||||||
| 416,445 | Ginnie Mae 2019-89 KB, 3.000%, 07/20/2049 | 325,745 | 0.0 | |||||||
| 299,424 | Ginnie Mae 2019-89 WB, 3.000%, 07/20/2049 | 229,194 | 0.0 | |||||||
| 73,747,406 (6) | Ginnie Mae 2020-187 BI, 2.500%, 12/20/2050 | 10,659,288 | 0.1 | |||||||
| 19,062,255 (6) | Ginnie Mae 2020-188 PI, 3.500%, 06/20/2050 | 3,600,307 | 0.1 | |||||||
| 17,489,558 (3)(6) | Ginnie Mae 2020-32 SG, 1.025%, (-1.000*TSFR1M + 5.986%), 03/20/2050 | 2,493,899 | 0.0 | |||||||
| 14,979,706 (3)(6) | Ginnie Mae 2020-34 SQ, 0.975%, (-1.000*TSFR1M + 5.936%), 10/20/2049 | 1,948,807 | 0.0 | |||||||
| 26,924,086 (3)(6) | Ginnie Mae 2020-46 BS, 0.336%, (-1.000*TSFR1M + 3.236%), 04/20/2050 | 552,050 | 0.0 | |||||||
| 13,696,256 (3)(6) | Ginnie Mae 2020-77 JS, 1.025%, (-1.000*TSFR1M + 5.986%), 10/20/2048 | 1,328,402 | 0.0 | |||||||
| 81,006,071 (6) | Ginnie Mae 2021-139 PI, 2.500%, 08/20/2051 | 11,419,879 | 0.1 | |||||||
| 19,197,830 (6) | Ginnie Mae 2021-161 IC, 4.500%, 09/20/2051 | 4,049,563 | 0.1 | |||||||
| 30,253,384 (6) | Ginnie Mae 2021-57 IG, 3.500%, 09/20/2050 | 5,737,128 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
104
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 43,415,119 (3)(6) | Ginnie Mae 2022-172 SB, 0.355%, (-1.000*SOFR30A + 5.700%), 10/20/2052 | $ | 3,074,502 | 0.1 | ||||||
| 1,810,277 | Ginnie Mae 2023-99 DV, 5.000%, 07/20/2034 | 1,853,979 | 0.0 | |||||||
| 6,319,523 | Ginnie Mae 2024-20 VZ, 5.500%, 09/20/2053 | 6,478,761 | 0.1 | |||||||
| 276,057 (1)(3) | GS Mortage-Backed Securities Trust 2020-PJ1 A1, 3.500%, 05/25/2050 | 252,905 | 0.0 | |||||||
| 442,742 (1)(3) | GS Mortage-Backed Securities Trust 2020-PJ1 A4, 3.500%, 05/25/2050 | 405,611 | 0.0 | |||||||
| 1,104,281 (1)(3) | GS Mortage-Backed Securities Trust 2020-PJ1 A8, 3.500%, 05/25/2050 | 1,011,670 | 0.0 | |||||||
| 287,107 (1)(3) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 A1, 4.000%, 11/25/2049 | 275,490 | 0.0 | |||||||
| 2,727,487 (1)(3) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B3, 4.374%, 11/25/2049 | 2,570,188 | 0.0 | |||||||
| 1,031,928 (1)(3) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B1, 3.917%, 03/25/2050 | 972,419 | 0.0 | |||||||
| 1,487,768 (1)(3) | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B2A, 3.421%, 10/25/2050 | 1,314,083 | 0.0 | |||||||
| 916,888 (1)(3) | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B4, 3.421%, 10/25/2050 | 757,710 | 0.0 | |||||||
| 1,379,171 (1)(3) | GS Mortgage-Backed Securities Trust 2021-GR3 B4, 3.378%, 04/25/2052 | 1,120,469 | 0.0 | |||||||
| 3,397,314 (1)(3) | GS Mortgage-Backed Securities Trust 2023-PJ4 A3, 6.000%, 01/25/2054 | 3,426,935 | 0.1 | |||||||
| 2,071,318 (1)(3) | GS Mortgage-Backed Securities Trust 2023-PJ6 B2, 6.938%, 04/25/2054 | 2,177,179 | 0.0 | |||||||
| 1,485,923 (1)(3) | GS Mortgage-Backed Securities Trust 2024-PJ1 B2, 7.228%, 06/25/2054 | 1,594,556 | 0.0 | |||||||
| 111,850 | GSR Mortgage Loan Trust 2007-1F 3A13, 6.000%, 01/25/2037 | 70,419 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,305,482 (3) | HarborView Mortgage Loan Trust 2007-5 A1A, 5.459%, (TSFR1M + 0.494%), 09/19/2037 | $ | 1,115,073 | 0.0 | ||||||
| 36,806 (3) | HomeBanc Mortgage Trust 2004-1 2A, 5.829%, (TSFR1M + 0.974%), 08/25/2029 | 35,718 | 0.0 | |||||||
| 341,829 (3) | Impac CMB Trust Series 2005-1 M1, 5.659%, (TSFR1M + 0.804%), 04/25/2035 | 318,805 | 0.0 | |||||||
| 2,000,000 (1)(3) | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 1,525,226 | 0.0 | |||||||
| 1,447,896 (3) | IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 5.389%, (TSFR1M + 0.534%), 02/25/2046 | 1,101,935 | 0.0 | |||||||
| 42,113 (1)(3) | J.P. Morgan Mortgage Trust 2019-2 A3, 3.990%, 08/25/2049 | 40,452 | 0.0 | |||||||
| 2,139,242 (1)(3) | J.P. Morgan Mortgage Trust 2021-14 B4, 3.151%, 05/25/2052 | 1,725,554 | 0.0 | |||||||
| 2,265,176 (1)(3) | J.P. Morgan Mortgage Trust 2023-8 B3, 6.325%, 02/25/2054 | 2,276,231 | 0.0 | |||||||
| 6,888,842 (1)(3) | J.P. Morgan Mortgage Trust 2024-1 A9, 6.000%, 06/25/2054 | 6,888,628 | 0.1 | |||||||
| 303,270 | JP Morgan Alternative Loan Trust 2005-S1 1A1, 5.500%, 12/25/2035 | 94,958 | 0.0 | |||||||
| 1,084,294 (3) | JP Morgan Mortgage Trust 2005-A4 B1, 6.123%, 07/25/2035 | 1,034,380 | 0.0 | |||||||
| 888,540 (1)(3) | JP Morgan Mortgage Trust 2017-1 B4, 3.448%, 01/25/2047 | 796,653 | 0.0 | |||||||
| 1,219,839 (1)(3) | JP Morgan Mortgage Trust 2017-6 B3, 3.774%, 12/25/2048 | 1,119,114 | 0.0 | |||||||
| 1,721,815 (1)(3) | JP Morgan Mortgage Trust 2018-1 B1, 3.576%, 06/25/2048 | 1,578,776 | 0.0 | |||||||
| 1,657,317 (1)(3) | JP Morgan Mortgage Trust 2018-1 B2, 3.576%, 06/25/2048 | 1,512,178 | 0.0 | |||||||
| 2,190,135 (1)(3) | JP Morgan Mortgage Trust 2018-1 B3, 3.576%, 06/25/2048 | 1,989,495 | 0.0 | |||||||
| 1,885,901 (1)(3) | JP Morgan Mortgage Trust 2018-4 B2, 3.709%, 10/25/2048 | 1,722,601 | 0.0 | |||||||
| 2,618,770 (1)(3) | JP Morgan Mortgage Trust 2018-9 B3, 4.254%, 02/25/2049 | 2,441,225 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
105
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 140,902 (1)(3) | JP Morgan Mortgage Trust 2019-1 A3, 4.000%, 05/25/2049 | $ | 134,473 | 0.0 | ||||||
| 234,611 (1)(3) | JP Morgan Mortgage Trust 2019-8 A15, 3.500%, 03/25/2050 | 216,110 | 0.0 | |||||||
| 521,361 (1)(3) | JP Morgan Mortgage Trust 2019-8 A5, 3.500%, 03/25/2050 | 480,253 | 0.0 | |||||||
| 1,626,061 (1)(3) | JP Morgan Mortgage Trust 2019-INV1 B3, 4.936%, 10/25/2049 | 1,582,912 | 0.0 | |||||||
| 731,443 (1)(3) | JP Morgan Mortgage Trust 2020-1 A7, 3.500%, 06/25/2050 | 671,225 | 0.0 | |||||||
| 247,842 (1)(3) | JP Morgan Mortgage Trust 2020-2 A15, 3.500%, 07/25/2050 | 227,200 | 0.0 | |||||||
| 266,553 (1)(3) | JP Morgan Mortgage Trust 2020-3 A15, 3.500%, 08/25/2050 | 244,141 | 0.0 | |||||||
| 1,944,503 (1)(3) | JP Morgan Mortgage Trust 2020-5 B3, 3.571%, 12/25/2050 | 1,707,238 | 0.0 | |||||||
| 893,505 (1)(3) | JP Morgan Mortgage Trust 2020-8 B2, 3.505%, 03/25/2051 | 793,431 | 0.0 | |||||||
| 197,526 (1)(3) | JP Morgan Mortgage Trust 2020-INV1 A3, 3.500%, 08/25/2050 | 181,265 | 0.0 | |||||||
| 1,388,966 (1)(3) | JP Morgan Mortgage Trust 2023-10 B3, 6.468%, 05/25/2054 | 1,372,597 | 0.0 | |||||||
| 3,673,153 (1)(3) | JP Morgan Mortgage Trust 2024-2 A9, 6.500%, 08/25/2054 | 3,715,727 | 0.1 | |||||||
| 4,500,000 (1)(3) | JP Morgan Mortgage Trust 2024-9 A9A, 5.500%, 02/25/2055 | 4,482,949 | 0.1 | |||||||
| 12,084,837 (3)(6) | Lehman Mortgage Trust 2006-7 2A4, 1.581%, (-1.000*TSFR1M + 6.436%), 11/25/2036 | 2,110,673 | 0.0 | |||||||
| 8,358,185 (3)(6) | Lehman Mortgage Trust 2006-9 2A5, 1.651%, (-1.000*TSFR1M + 6.506%), 01/25/2037 | 1,028,905 | 0.0 | |||||||
| 210,496 (1)(3) | MFA Trust 2020-NQM3 A3, 1.632%, 01/26/2065 | 197,192 | 0.0 | |||||||
| 1,100,000 (1)(3) | Mill City Mortgage Loan Trust 2017-1 M2, 3.250%, 11/25/2058 | 1,079,543 | 0.0 | |||||||
| 3,300,449 (1)(3) | Mill City Mortgage Loan Trust 2017-2 M2, 3.250%, 07/25/2059 | 3,189,519 | 0.1 | |||||||
| 2,482,000 (1)(3) | Mill City Mortgage Trust 2015-2 B2, 3.744%, 09/25/2057 | 2,299,476 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,000,000 (1)(3) | Morgan Stanley Residential Mortgage Loan Trust 2020-1 A5A, 2.500%, 12/25/2050 | $ | 717,045 | 0.0 | ||||||
| 4,707,848 (1)(3) | Morgan Stanley Residential Mortgage Loan Trust 2024-2 B1, 7.182%, 03/25/2054 | 5,092,756 | 0.1 | |||||||
| 3,953,000 (1) | Morgan Stanley Residential Mortgage Loan Trust 2024-4 A13, 5.500%, 09/25/2054 | 3,955,332 | 0.1 | |||||||
| 1,705,000 (1) | Morgan Stanley Residential Mortgage Loan Trust 2024-4 B3, 7.067%, 09/25/2054 | 1,756,687 | 0.0 | |||||||
| 1,732,094 (1)(3) | New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057 | 1,713,900 | 0.0 | |||||||
| 583,773 (1)(3) | New Residential Mortgage Loan Trust 2017-6A B2, 4.000%, 08/27/2057 | 572,491 | 0.0 | |||||||
| 1,000,000 (1)(3) | Oaktown Re VI Ltd. 2021-1A M1C, 8.280%, (SOFR30A + 3.000%), 10/25/2033 | 1,012,320 | 0.0 | |||||||
| 6,000,000 (1)(3) | Oaktown Re VII Ltd. 2021-2 M1C, 8.630%, (SOFR30A + 3.350%), 04/25/2034 | 6,156,321 | 0.1 | |||||||
| 57,910 (1)(3) | OBX Trust 2019-EXP1 1A3, 4.000%, 01/25/2059 | 57,006 | 0.0 | |||||||
| 276,939 (1)(3) | OBX Trust 2019-INV2 A25, 4.000%, 05/27/2049 | 263,875 | 0.0 | |||||||
| 1,483,134,885 (1)(6) | PMTT4 2017-PM1 XIO, 13.000%, 10/25/2048 | 6,390,606 | 0.1 | |||||||
| 59,255 | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | 52,102 | 0.0 | |||||||
| 1,150,331 (1)(3) | Provident Funding Mortgage Trust 2020-1 B3, 3.244%, 02/25/2050 | 980,247 | 0.0 | |||||||
| 5,737,562 (1)(3) | Radnor RE Ltd. 2021-1 M1C, 7.980%, (SOFR30A + 2.700%), 12/27/2033 | 5,819,489 | 0.1 | |||||||
| 649,974 (1)(3) | RCKT Mortgage Trust 2019-1 A13, 3.500%, 09/25/2049 | 598,809 | 0.0 | |||||||
| 885,282 (1)(3) | RCKT Mortgage Trust 2019-1 B4, 3.890%, 09/25/2049 | 766,667 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
106
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 31,730,919 (3) | Seasoned Credit Risk Transfer Trust 2017-4 HT, 3.250%, 06/25/2057 | $ | 29,164,976 | 0.3 | ||||||
| 194,900 (1)(3) | Seasoned Credit Risk Transfer Trust Series 2016-1 M2, 3.750%, 09/25/2055 | 183,068 | 0.0 | |||||||
| 3,269,049 | Seasoned Credit Risk Transfer Trust Series 2018-2 HT, 3.000%, 11/25/2057 | 2,914,490 | 0.0 | |||||||
| 7,522,474 | Seasoned Credit Risk Transfer Trust Series 2018-2 MV, 3.500%, 11/25/2057 | 7,032,696 | 0.1 | |||||||
| 3,363,481 | Seasoned Credit Risk Transfer Trust Series 2018-3 HT, 3.000%, 08/25/2057 | 2,976,938 | 0.0 | |||||||
| 2,655,334 | Seasoned Credit Risk Transfer Trust Series 2018-4 HT, 3.000%, 03/25/2058 | 2,340,348 | 0.0 | |||||||
| 3,034,062 | Seasoned Credit Risk Transfer Trust Series 2019-1 HT, 3.000%, 07/25/2058 | 2,692,049 | 0.0 | |||||||
| 1,545,984 | Seasoned Credit Risk Transfer Trust Series 2019-2 HT, 3.000%, 08/25/2058 | 1,374,452 | 0.0 | |||||||
| 707,333 | Seasoned Credit Risk Transfer Trust Series 2019-3 HT, 3.000%, 10/25/2058 | 627,903 | 0.0 | |||||||
| 1,690,305 | Seasoned Credit Risk Transfer Trust Series 2019-3 MA, 3.500%, 10/25/2058 | 1,641,614 | 0.0 | |||||||
| 789,117 | Seasoned Credit Risk Transfer Trust Series 2019-4 M55D, 4.000%, 02/25/2059 | 752,271 | 0.0 | |||||||
| 76,613 | Seasoned Credit Risk Transfer Trust Series 2020-3 TTU, 2.500%, 05/25/2060 | 70,594 | 0.0 | |||||||
| 32,340,000 | Seasoned Loans Structured Transaction Trust Series 2019-3 A2C, 2.750%, 11/25/2029 | 30,017,189 | 0.3 | |||||||
| 824,104 (1)(3) | Sequoia Mortgage Trust 2015-2 B3, 3.757%, 05/25/2045 | 732,781 | 0.0 | |||||||
| 982,625 (1)(3) | Sequoia Mortgage Trust 2015-3 B3, 3.730%, 07/25/2045 | 801,846 | 0.0 | |||||||
| 614,842 (1)(3) | Sequoia Mortgage Trust 2017-5 B3, 3.787%, 08/25/2047 | 563,553 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 118,406 (1)(3) | Sequoia Mortgage Trust 2018-CH1 A19, 4.000%, 03/25/2048 | $ | 113,062 | 0.0 | ||||||
| 2,161,704 (1) | Sequoia Mortgage Trust 2018-CH1 B2B, 4.440%, 03/25/2048 | 2,071,621 | 0.0 | |||||||
| 526,568 (1)(3) | Sequoia Mortgage Trust 2019-4 A19, 3.500%, 11/25/2049 | 482,405 | 0.0 | |||||||
| 46,244 (1)(3) | Sequoia Mortgage Trust 2019-CH2 A1, 4.500%, 08/25/2049 | 45,837 | 0.0 | |||||||
| 1,811,882 (1)(3) | Sequoia Mortgage Trust 2020-2 B2, 3.635%, 03/25/2050 | 1,624,437 | 0.0 | |||||||
| 2,754,268 (1)(3) | Sequoia Mortgage Trust 2020-3 B2, 3.318%, 04/25/2050 | 2,443,308 | 0.0 | |||||||
| 1,031,056 (1)(3) | Sequoia Mortgage Trust 2021-5 A19, 2.500%, 07/25/2051 | 858,793 | 0.0 | |||||||
| 934,119 (1)(3) | Sequoia Mortgage Trust 2021-5 B3, 3.051%, 07/25/2051 | 761,470 | 0.0 | |||||||
| 1,346,711 (1)(3) | Sequoia Mortgage Trust 2024-3 A19, 6.000%, 04/25/2054 | 1,346,669 | 0.0 | |||||||
| 5,300,000 (1)(3) | Sequoia Mortgage Trust 2024-9 A20, 5.500%, 10/25/2054 | 5,272,090 | 0.1 | |||||||
| 1,629,083 (1)(3) | Shellpoint Co-Originator Trust 2017-2 B2, 3.642%, 10/25/2047 | 1,507,167 | 0.0 | |||||||
| 1,000,000 (1)(3) | Starwood Mortgage Residential Trust 2022-2 M1, 4.200%, 02/25/2067 | 814,761 | 0.0 | |||||||
| 2,057,060 (1)(3) | TIAA Bank Mortgage Loan Trust 2018-2 B2, 3.657%, 07/25/2048 | 1,883,558 | 0.0 | |||||||
| 1,400,000 (1)(3) | Towd Point Mortgage Trust 2015-2 1B1, 3.761%, 11/25/2060 | 1,379,559 | 0.0 | |||||||
| 2,640,000 (1)(3) | Towd Point Mortgage Trust 2015-2 2B2, 4.930%, 11/25/2057 | 2,620,773 | 0.0 | |||||||
| 3,878,776 (1)(3) | Towd Point Mortgage Trust 2016-2 M1, 3.000%, 08/25/2055 | 3,799,854 | 0.1 | |||||||
| 3,200,000 (1)(3) | Towd Point Mortgage Trust 2017-1 M1, 3.750%, 10/25/2056 | 3,143,859 | 0.1 | |||||||
| 2,200,000 (1)(3) | Towd Point Mortgage Trust 2017-3 M1, 3.500%, 07/25/2057 | 2,117,347 | 0.0 | |||||||
| 7,745,900 (1)(3) | Triangle Re Ltd. 2021-3 M1B, 8.180%, (SOFR30A + 2.900%), 02/25/2034 | 7,843,427 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
107
| PORTFOLIO OF INVESTMENTS | |
| Voya Intermediate Bond Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 254,506 (3) | Wachovia Mortgage Loan Trust LLC Series Trust 2005-B 2A1, 6.771%, 10/20/2035 | $ | 249,705 | 0.0 | ||||||
| 1,028,441 (3) | WaMu Mortgage Pass-Through Certificates 2005-AR11 A1C3, 5.989%, (TSFR1M + 1.134%), 08/25/2045 | 1,016,346 | 0.0 | |||||||
| 37,857,761 (3)(6) | WaMu Mortgage Pass-Through Certificates 2005-AR11 X, 1.410%, 08/25/2045 | 40,864 | 0.0 | |||||||
| 209,847 (3) | WaMu Mortgage Pass-Through Certificates 2006-AR12 1A1, 4.557%, 10/25/2036 | 192,797 | 0.0 | |||||||
| 153,089 (3) | WaMu Mortgage Pass-Through Certificates 2006-AR12 2A3, 4.020%, 10/25/2036 | 139,752 | 0.0 | |||||||
| 450,142 (3) | WaMu Mortgage Pass-Through Certificates 2006-AR14 1A4, 3.982%, 11/25/2036 | 393,251 | 0.0 | |||||||
| 523,801 (3) | WaMu Mortgage Pass-Through Certificates 2006-AR16 2A1, 4.316%, 12/25/2036 | 461,025 | 0.0 | |||||||
| 1,043,491 (3) | WaMu Mortgage Pass-Through Certificates 2007-HY2 1A1, 4.306%, 12/25/2036 | 939,412 | 0.0 | |||||||
| 284,477 (3) | WaMu Mortgage Pass-Through Certificates 2007-HY3 1A1, 3.818%, 03/25/2037 | 231,316 | 0.0 | |||||||
| 1,788,969 (3) | WaMu Mortgage Pass-Through Certificates Series Trust 2004-AR4 A6, 6.232%, 06/25/2034 | 1,737,171 | 0.0 | |||||||
| 697,679 (3) | WaMu Mortgage Pass-Through Certificates Series Trust 2005-AR13 A1C3, 5.949%, (TSFR1M + 1.094%), 10/25/2045 | 673,618 | 0.0 | |||||||
| 1,210,971 (3) | WaMu Mortgage Pass-Through Certificates Series Trust 2006-AR16 2A3, 4.316%, 12/25/2036 | 1,065,838 | 0.0 | |||||||
| 851,972 (3) | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-10 2A3, 5.750%, (TSFR1M + 1.014%), 11/25/2035 | 728,321 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 494,936 | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-5 CB3, 5.500%, 07/25/2035 | $ | 461,442 | 0.0 | ||||||
| 2,875,752 (3) | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR6 2A, 6.083%, (12MTA + 0.960%), 08/25/2046 | 1,579,481 | 0.0 | |||||||
| 892,215 (3) | Washington Mutual Mortgage Pass-Through Certificates WMALT 2007-OC1 A4, 5.609%, (TSFR1M + 0.754%), 01/25/2047 | 803,392 | 0.0 | |||||||
| 221,597 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-8 1A2, 5.500%, 10/25/2035 | 203,718 | 0.0 | |||||||
| 430,669 (3) | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2007-OC1 A3, 5.429%, (TSFR1M + 0.574%), 01/25/2047 | 384,341 | 0.0 | |||||||
| 361,021 (3) | Wells Fargo Alternative Loan Trust 2007-PA2 2A1, 5.399%, (TSFR1M + 0.544%), 06/25/2037 | 294,966 | 0.0 | |||||||
| 364,666 | Wells Fargo Alternative Loan Trust 2007-PA3 3A1, 6.250%, 07/25/2037 | 321,158 | 0.0 | |||||||
| 110,537 (3) | Wells Fargo Mortgage Backed Securities Trust 2006-AR4 2A4, 6.169%, 04/25/2036 | 108,068 | 0.0 | |||||||
| 1,824,930 (1)(3) | Wells Fargo Mortgage Backed Securities Trust 2019-4 B3, 3.515%, 09/25/2049 | 1,377,002 | 0.0 | |||||||
| 525,805 (1)(3) | WinWater Mortgage Loan Trust 2015-5 B3, 3.755%, 08/20/2045 | 492,438 | 0.0 | |||||||
| 857,757 (1)(3) | WinWater Mortgage Loan Trust 2015-5 B4, 3.755%, 08/20/2045 | 795,482 | 0.0 | |||||||
| Total Collateralized Mortgage Obligations (Cost $1,487,809,193) | 1,405,239,320 | 15.0 | ||||||||
See Accompanying Notes to Financial Statements
108
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: 11.9% | ||||||||||
| Automobile Asset-Backed Securities: 0.4% | ||||||||||
| 10,421,633 (1)(3) | Bayview Opportunity Master Fund VII LLC 2024-CAR1 A, 6.380%, (SOFR30A + 1.100%), 12/26/2031 | $ | 10,442,636 | 0.1 | ||||||
| 14,950,000 (1) | Bayview Opportunity Master Fund VII Trust 2024-SN1 A3, 5.660%, 03/15/2028 | 15,098,338 | 0.2 | |||||||
| 352,784 (1) | Westlake Automobile Receivables Trust 2021-2A C, 0.890%, 07/15/2026 | 352,132 | 0.0 | |||||||
| 11,850,000 (1) | Westlake Automobile Receivables Trust 2024-1A B, 5.550%, 11/15/2027 | 12,026,025 | 0.1 | |||||||
| 37,919,131 | 0.4 | |||||||||
| Home Equity Asset-Backed Securities: 0.1% | ||||||||||
| 2,439,379 (1)(3) | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A2, 6.336%, 02/25/2038 | 1,983,721 | 0.0 | |||||||
| 3,919,589 (3) | Freddie Mac Structured Pass-Through Certificates T-31 A7, 5.645%, (SOFR30A + 0.364%), 05/25/2031 | 3,907,578 | 0.1 | |||||||
| 2,556,483 (3) | GSAA Trust 2006-7 AF2, 5.995%, 03/25/2046 | 962,123 | 0.0 | |||||||
| 121,130 (3) | HSI Asset Loan Obligation Trust 2007-WF1 A6, 4.487%, 12/25/2036 | 91,612 | 0.0 | |||||||
| 436,644 (3) | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A3, 5.289%, (TSFR1M + 0.434%), 02/25/2037 | 392,428 | 0.0 | |||||||
| 526,427 (3) | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 5.429%, (TSFR1M + 0.574%), 02/25/2037 | 473,211 | 0.0 | |||||||
| 629,897 (3) | Renaissance Home Equity Loan Trust 2005-3 AF4, 5.140%, 11/25/2035 | 627,913 | 0.0 | |||||||
| 8,438,586 | 0.1 | |||||||||
| Other Asset-Backed Securities: 10.3% | ||||||||||
| 6,800,000 (1)(3) | AB BSL CLO 4 Ltd. 2023-4A A, 7.282%, (TSFR3M + 2.000%), 04/20/2036 | 6,842,119 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 6,750,000 (1)(3) | AIG CLO LLC 2021-1A C, 7.294%, (TSFR3M + 2.012%), 04/22/2034 | $ | 6,761,414 | 0.1 | ||||||
| 1,017,163 (1)(3)(6)(7) | American Homes 4 Rent Trust 2015-SFR1 XS, 3.232%, 04/17/2052 | — | — | |||||||
| 21,690,000 (1)(3) | AMMC CLO 25 Ltd. 2022-25A A1R, 6.651%, (TSFR3M + 1.350%), 04/15/2035 | 21,717,676 | 0.2 | |||||||
| 12,648,986 (1)(3) | Apidos Clo Xxv 2016-25A A1R2, 6.432%, (TSFR3M + 1.150%), 10/20/2031 | 12,654,678 | 0.1 | |||||||
| 15,700,000 (1)(3) | Apidos CLO XXXII 2019-32A A1R, 6.382%, (TSFR3M + 1.100%), 01/20/2033 | 15,712,953 | 0.2 | |||||||
| 10,000,000 (1)(3) | Apidos CLO XXXV 2021-35A C, 7.194%, (TSFR3M + 1.912%), 04/20/2034 | 10,008,500 | 0.1 | |||||||
| 2,029,500 (1) | Applebee’s Funding LLC / IHOP Funding LLC 2019-1A A2II, 4.723%, 06/05/2049 | 1,998,098 | 0.0 | |||||||
| 463,812 (1) | Aqua Finance Trust 2019-A A, 3.140%, 07/16/2040 | 449,443 | 0.0 | |||||||
| 731,040 (1) | Aqua Finance Trust 2020-AA A, 1.900%, 07/17/2046 | 691,786 | 0.0 | |||||||
| 4,221,724 (1)(3) | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL3 A, 6.281%, (TSFR1M + 1.184%), 08/15/2034 | 4,205,297 | 0.0 | |||||||
| 4,778,475 (1)(3) | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 A, 6.561%, (TSFR1M + 1.464%), 11/15/2036 | 4,777,272 | 0.0 | |||||||
| 9,063,956 (1)(3) | ARES LII CLO Ltd. 2019-52A A1R, 6.594%, (TSFR3M + 1.312%), 04/22/2031 | 9,079,763 | 0.1 | |||||||
| 6,250,000 (1)(3) | Barings Clo Ltd. 2019-4A CR, 7.501%, (TSFR3M + 2.200%), 07/15/2037 | 6,312,363 | 0.1 | |||||||
| 4,433,576 (1)(3) | Barings CLO Ltd. 2018-3A A2, 6.844%, (TSFR3M + 1.562%), 07/20/2029 | 4,434,954 | 0.0 | |||||||
| 19,260,349 (1)(3) | Barings CLO Ltd. 2018-4A A1R, 6.451%, (TSFR3M + 1.150%), 10/15/2030 | 19,278,993 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
109
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 450,000 (1)(3) | Benefit Street Partners CLO VIII Ltd. 2015-8A A1BR, 6.744%, (TSFR3M + 1.462%), 01/20/2031 | $ | 450,562 | 0.0 | ||||||
| 20,100,000 (1)(3) | Benefit Street Partners CLO XIX Ltd. 2019-19A AR, 6.481%, (TSFR3M + 1.180%), 01/15/2033 | 20,120,100 | 0.2 | |||||||
| 4,600,000 (1)(3) | Benefit Street Partners CLO XXIII Ltd. 2021-23A C, 7.746%, (TSFR3M + 2.462%), 04/25/2034 | 4,613,910 | 0.0 | |||||||
| 2,000,000 (1)(3) | BlueMountain CLO Ltd. 2014-2A A2R2, 6.944%, (TSFR3M + 1.662%), 10/20/2030 | 2,001,076 | 0.0 | |||||||
| 18,204,458 (1)(3) | BlueMountain CLO Ltd. 2016-3A A1R2, 6.318%, (TSFR3M + 1.200%), 11/15/2030 | 18,217,401 | 0.2 | |||||||
| 5,350,000 (1)(3) | BlueMountain CLO XXVIII Ltd. 2021-28A C, 7.563%, (TSFR3M + 2.262%), 04/15/2034 | 5,355,350 | 0.1 | |||||||
| 3,150,000 | BMO Mortgate Trust 2024-C9 A5, 5.759%, 07/15/2057 | 3,416,282 | 0.0 | |||||||
| 6,386,250 (1) | Bojangles Issuer LLC 2020-1A A2, 3.832%, 10/20/2050 | 6,360,096 | 0.1 | |||||||
| 7,570,000 (1)(3) | Broad River Bsl Funding Clo Ltd. 2020-1A AR, 6.714%, (TSFR3M + 1.432%), 07/20/2034 | 7,577,123 | 0.1 | |||||||
| 4,400,000 (1)(3) | Broad River Bsl Funding Clo Ltd. 2020-1A CR, 7.544%, (TSFR3M + 2.262%), 07/20/2034 | 4,404,655 | 0.0 | |||||||
| 5,000,000 (1)(3) | BSPRT Issuer Ltd. 2023-FL10 A, 7.356%, (TSFR1M + 2.259%), 09/15/2035 | 5,032,759 | 0.1 | |||||||
| 6,600,000 (1)(3) | California Street CLO IX L.P. 2012-9A CR3, 8.048%, (TSFR3M + 2.762%), 07/16/2032 | 6,569,831 | 0.1 | |||||||
| 3,030,945 (1)(3) | Carlyle Global Market Strategies CLO Ltd. 2014-1A A1R2, 6.517%, (TSFR3M + 1.232%), 04/17/2031 | 3,035,343 | 0.0 | |||||||
| 3,250,000 (1)(3) | Carlyle Global Market Strategies CLO Ltd. 2014-1A A2R2, 6.677%, (TSFR3M + 1.392%), 04/17/2031 | 3,254,605 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 25,190,000 (1)(3) | Carlyle Global Market Strategies CLO Ltd. 2015-4A A1RR, 6.502%, (TSFR3M + 1.220%), 07/20/2032 | $ | 25,218,969 | 0.3 | ||||||
| 10,000,000 (1)(3) | Cedar Funding IV CLO Ltd. 2014-4A CRR, 7.545%, (TSFR3M + 2.262%), 07/23/2034 | 10,016,930 | 0.1 | |||||||
| 11,200,000 (1)(3) | Cedar Funding VIII Clo Ltd. 2017-8A A2R, 6.997%, (TSFR3M + 1.712%), 10/17/2034 | 11,212,354 | 0.1 | |||||||
| 35,790 (3) | Chase Funding Trust Series 2003-5 2A2, 5.569%, (TSFR1M + 0.714%), 07/25/2033 | 35,659 | 0.0 | |||||||
| 5,569,349 (1)(3) | CIFC Funding Ltd. 2018-2A A1, 6.584%, (TSFR3M + 1.302%), 04/20/2031 | 5,572,373 | 0.1 | |||||||
| 7,160,000 (1)(3) | CIFC Funding Ltd. 2018-2A A1R, (TSFR3M + 1.370%), 10/20/2037 | 7,165,370 | 0.1 | |||||||
| 3,000,000 (1)(3) | CIFC Funding Ltd. 2019-6A A2R, 7.028%, (TSFR3M + 1.700%), 07/16/2037 | 3,001,245 | 0.0 | |||||||
| 1,988,737 (1) | CLI Funding VI LLC 2020-1A A, 2.080%, 09/18/2045 | 1,841,987 | 0.0 | |||||||
| 6,210,238 (1) | CLI Funding VIII LLC 2021-1A A, 1.640%, 02/18/2046 | 5,670,664 | 0.1 | |||||||
| 17,695,448 (1)(3) | Crestline Denali CLO XVII Ltd. 2018-1A ARR, 6.431%, (TSFR3M + 1.130%), 10/15/2031 | 17,716,240 | 0.2 | |||||||
| 4,512,500 (1) | DB Master Finance LLC 2019-1A A23, 4.352%, 05/20/2049 | 4,412,113 | 0.0 | |||||||
| 2,327,500 (1) | DB Master Finance LLC 2019-1A A2II, 4.021%, 05/20/2049 | 2,300,433 | 0.0 | |||||||
| 2,510,875 (1) | Domino’s Pizza Master Issuer LLC 2018-1A A2II, 4.328%, 07/25/2048 | 2,483,315 | 0.0 | |||||||
| 5,528,250 (1) | Driven Brands Funding LLC 2019-1A A2, 4.641%, 04/20/2049 | 5,481,097 | 0.1 | |||||||
| 5,300,125 (1) | Driven Brands Funding LLC 2021-1A A2, 2.791%, 10/20/2051 | 4,820,637 | 0.1 | |||||||
| 3,501,822 (1)(3) | Dryden 38 Senior Loan Fund 2015-38A ARR, 6.451%, (TSFR3M + 1.150%), 07/15/2030 | 3,505,611 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
110
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 6,400,000 (1)(3) | Dryden 49 Senior Loan Fund 2017-49A CR, 7.591%, (TSFR3M + 2.312%), 07/18/2030 | $ | 6,411,123 | 0.1 | ||||||
| 11,400,000 (1)(3) | Dryden 75 CLO Ltd. 2019-75A CR2, 7.363%, (TSFR3M + 2.062%), 04/15/2034 | 11,409,052 | 0.1 | |||||||
| 8,000,000 (1)(3) | Eaton Vance Clo Ltd. 2015-1A A2R, 6.794%, (TSFR3M + 1.512%), 01/20/2030 | 8,012,440 | 0.1 | |||||||
| 5,250,000 (1) | Five Guys Holdings, Inc. 2023-1A A2, 7.549%, 01/26/2054 | 5,567,650 | 0.1 | |||||||
| 6,099,741 (1)(3) | FS Rialto 2021-FL3 A, 6.461%, (TSFR1M + 1.364%), 11/16/2036 | 6,072,286 | 0.1 | |||||||
| 16,076,756 (1)(3) | Galaxy XXVI CLO Ltd. 2018-26A AR, 6.291%, (TSFR3M + 1.170%), 11/22/2031 | 16,091,048 | 0.2 | |||||||
| 4,690,625 (1) | Goddard Funding LLC 2022-1A A2, 6.864%, 10/30/2052 | 4,783,854 | 0.1 | |||||||
| 413,201 (1) | HERO Funding Trust 2015-2A A, 3.990%, 09/20/2040 | 390,439 | 0.0 | |||||||
| 402,829 (1) | HERO Funding Trust 2016-2A A, 3.750%, 09/20/2041 | 376,661 | 0.0 | |||||||
| 1,031,381 (1) | HERO Funding Trust 2016-4A A2, 4.290%, 09/20/2047 | 969,813 | 0.0 | |||||||
| 6,000,000 (1)(3) | LCM 26 Ltd. 26A A2, 6.794%, (TSFR3M + 1.512%), 01/20/2031 | 6,005,088 | 0.1 | |||||||
| 6,835,022 (1)(3) | LCM 30 Ltd. 30A AR, 6.624%, (TSFR3M + 1.342%), 04/20/2031 | 6,837,018 | 0.1 | |||||||
| 5,000,000 (1)(3) | LCM XVIII L.P. 18A A2R, 6.764%, (TSFR3M + 1.482%), 04/20/2031 | 5,001,630 | 0.1 | |||||||
| 11,900,000 (1)(3) | LCM XXIV Ltd. 24A CR, 7.444%, (TSFR3M + 2.162%), 03/20/2030 | 11,932,713 | 0.1 | |||||||
| 7,455,468 (1) | Loanpal Solar Loan Ltd. 2021-2GS A, 2.220%, 03/20/2048 | 5,953,399 | 0.1 | |||||||
| 6,150,000 (1)(3) | Madison Park Funding XLVIII Ltd. 2021-48A C, 7.541%, (TSFR3M + 2.262%), 04/19/2033 | 6,162,644 | 0.1 | |||||||
| 6,250,000 (1)(3) | Madison Park Funding XXI Ltd. 2016-21A ABRR, 6.963%, (TSFR3M + 1.662%), 10/15/2032 | 6,253,519 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 1,400,000 (1)(3) | Madison Park Funding XXVII Ltd. 2018-27A B, 7.344%, (TSFR3M + 2.062%), 04/20/2030 | $ | 1,401,917 | 0.0 | ||||||
| 10,218,051 (1)(3) | Magnetite XII Ltd. 2015-12A AR4, 6.451%, (TSFR3M + 1.150%), 10/15/2031 | 10,222,649 | 0.1 | |||||||
| 31,780,000 (1)(3) | Magnetite XXXI Ltd. 2021-31A A1, 6.663%, (TSFR3M + 1.362%), 07/15/2034 | 31,859,450 | 0.3 | |||||||
| 14,700,000 (1)(3) | Marble Point CLO XIX Ltd. 2020-3A AR, 6.679%, (TSFR3M + 1.400%), 01/19/2034 | 14,720,301 | 0.2 | |||||||
| 10,000,000 (1)(3) | MF1 Ltd. 2021-FL6 AS, 6.579%, (TSFR1M + 1.564%), 07/16/2036 | 9,917,270 | 0.1 | |||||||
| 5,949,531 (1)(3) | MF1 Ltd. 2022-FL8 A, 6.315%, (TSFR1M + 1.350%), 02/19/2037 | 5,935,176 | 0.1 | |||||||
| 4,000,000 (1)(3) | MF1 Ltd. 2023-FL12 A, 7.031%, (TSFR1M + 2.066%), 10/19/2038 | 4,024,268 | 0.0 | |||||||
| 3,500,000 (1)(3) | MF1 Ltd. 2024-FL14 A, 6.702%, (TSFR1M + 1.737%), 03/19/2039 | 3,515,091 | 0.0 | |||||||
| 5,500,000 (1)(3) | MF1 Ltd. 2024-FL15 A, 6.988%, (TSFR1M + 1.688%), 08/18/2041 | 5,522,001 | 0.1 | |||||||
| 588,249 (1) | Mill City Solar Loan Ltd. 2019-1A A, 4.340%, 03/20/2043 | 557,741 | 0.0 | |||||||
| 3,020,112 (1) | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 2,768,287 | 0.0 | |||||||
| 2,004,930 (1) | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 1,907,424 | 0.0 | |||||||
| 3,424,889 (1) | Mosaic Solar Loan Trust 2018-2GS A, 4.200%, 02/22/2044 | 3,234,302 | 0.0 | |||||||
| 440,316 (1) | Mosaic Solar Loan Trust 2018-2GS B, 4.740%, 02/22/2044 | 395,581 | 0.0 | |||||||
| 2,556,962 (1) | Mosaic Solar Loan Trust 2019-2A A, 2.880%, 09/20/2040 | 2,313,125 | 0.0 | |||||||
| 3,128,357 (1) | Mosaic Solar Loan Trust 2020-1A B, 3.100%, 04/20/2046 | 2,761,908 | 0.0 | |||||||
| 6,282,061 (1) | Mosaic Solar Loan Trust 2020-2A A, 1.440%, 08/20/2046 | 5,387,507 | 0.1 | |||||||
| 2,808,277 (1) | Mosaic Solar Loan Trust 2021-1A B, 2.050%, 12/20/2046 | 2,198,315 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
111
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 8,240,529 (1) | Mosaic Solar Loan Trust 2024-2A A, 5.600%, 04/22/2052 | $ | 8,332,716 | 0.1 | ||||||
| 1,186,068 (1) | Mosaic Solar Loans LLC 2017-2A A, 3.820%, 06/22/2043 | 1,127,463 | 0.0 | |||||||
| 6,064,264 (1) | Mosaic Solar Loans LLC 2024-1A A, 5.500%, 09/20/2049 | 6,090,707 | 0.1 | |||||||
| 9,100,000 (1)(3) | Neuberger Berman CLO XVII Ltd. 2014-17A AR3, 6.733%, (TSFR3M + 1.400%), 07/22/2038 | 9,128,629 | 0.1 | |||||||
| 6,010,000 (1)(3) | OCP Clo Ltd. 2019-17A AR2, 6.696%, (TSFR3M + 1.400%), 07/20/2037 | 6,040,759 | 0.1 | |||||||
| 13,850,000 (1)(3) | Octagon Investment Partners 29 Ltd. 2016-1A A1R2, 6.741%, (TSFR3M + 1.420%), 07/18/2037 | 13,881,162 | 0.1 | |||||||
| 3,500,000 (1)(3) | Octagon Investment Partners 32 Ltd. 2017-1A CR, 7.613%, (TSFR3M + 2.312%), 07/15/2029 | 3,505,229 | 0.0 | |||||||
| 4,060,000 (1)(3) | Octagon Investment Partners XV Ltd. 2013-1A A2R, 6.891%, (TSFR3M + 1.612%), 07/19/2030 | 4,060,203 | 0.0 | |||||||
| 6,000,000 (1)(3) | Octagon Investment Partners XXI Ltd. 2014-1A BR3, 7.128%, (TSFR3M + 2.012%), 02/14/2031 | 6,004,716 | 0.1 | |||||||
| 5,750,000 (1)(3) | OHA Credit Funding 8 Ltd. 2021-8A C, 7.441%, (TSFR3M + 2.162%), 01/18/2034 | 5,756,480 | 0.1 | |||||||
| 6,700,000 (1)(3) | OHA Credit Funding 9 Ltd. 2021-9A C, 7.441%, (TSFR3M + 2.162%), 07/19/2035 | 6,717,668 | 0.1 | |||||||
| 6,700,000 (1)(3) | OHA Credit Funding 9 Ltd. 2021-9A CR, (TSFR3M + 1.950%), 10/19/2037 | 6,718,003 | 0.1 | |||||||
| 10,700,000 (1)(3) | OHA Credit Partners VII Ltd. 2012-7A CR3, 7.190%, (TSFR3M + 2.062%), 02/20/2034 | 10,708,881 | 0.1 | |||||||
| 361,331 (1) | Pagaya AI Debt Selection Trust 2021-HG1 A, 1.220%, 01/16/2029 | 356,840 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 5,800,000 (1)(3) | Palmer Square CLO Ltd. 2021-1A B, 7.244%, (TSFR3M + 1.962%), 04/20/2034 | $ | 5,786,834 | 0.1 | ||||||
| 7,550,000 (1)(3) | Palmer Square CLO Ltd. 2021-3A A2, 6.963%, (TSFR3M + 1.662%), 01/15/2035 | 7,555,579 | 0.1 | |||||||
| 33,321 (3) | Popular ABS Mortgage Pass-Through Trust 2005-D A5, 3.423%, 01/25/2036 | 33,045 | 0.0 | |||||||
| 4,860,625 (1) | Primrose Funding LLC 2019-1A A2, 4.475%, 07/30/2049 | 4,784,550 | 0.1 | |||||||
| 6,000,000 (1)(3) | Rad CLO 6 Ltd. 2019-6A A2, 7.394%, (TSFR3M + 2.112%), 01/20/2033 | 6,007,968 | 0.1 | |||||||
| 9,150,000 (1)(3) | Rockland Park CLO Ltd. 2021-1A C, 7.444%, (TSFR3M + 2.162%), 04/20/2034 | 9,161,666 | 0.1 | |||||||
| 5,721,250 (1) | Servpro Master Issuer LLC 2024-1A A2, 6.174%, 01/25/2054 | 5,892,508 | 0.1 | |||||||
| 660,718 (1) | SoFi Consumer Loan Program Trust 2021-1 C, 1.610%, 09/25/2030 | 658,981 | 0.0 | |||||||
| 7,001,917 (1) | Sonic Capital LLC 2020-1A A2I, 3.845%, 01/20/2050 | 6,804,811 | 0.1 | |||||||
| 3,880,000 (1) | Sonic Capital LLC 2021-1A A2II, 2.636%, 08/20/2051 | 3,261,529 | 0.0 | |||||||
| 18,000,000 (1)(3) | Sound Point Clo XVI Ltd. 2017-2A CR, 7.746%, (TSFR3M + 2.462%), 07/25/2030 | 18,069,138 | 0.2 | |||||||
| 9,950,000 (1)(3) | Sound Point CLO XXIX Ltd. 2021-1A C1, 7.846%, (TSFR3M + 2.562%), 04/25/2034 | 9,968,059 | 0.1 | |||||||
| 27,410,000 (1)(3) | Sound Point CLO XXVIII Ltd. 2020-3A A1R, 6.565%, (TSFR3M + 1.280%), 01/25/2032 | 27,416,935 | 0.3 | |||||||
| 5,500,000 (1)(3) | Southwick Park CLO LLC 2019-4A A1R, 6.604%, (TSFR3M + 1.322%), 07/20/2032 | 5,507,502 | 0.1 | |||||||
| 3,965,704 (1) | Sunnova Helios II Issuer LLC 2018-1A A, 4.870%, 07/20/2048 | 3,620,350 | 0.0 | |||||||
| 2,999,754 (1) | Sunnova Helios V Issuer LLC 2021-A A, 1.800%, 02/20/2048 | 2,302,379 | 0.0 | |||||||
| 12,618,665 (1) | Sunnova Helios XI Issuer LLC 2023-A A, 5.300%, 05/20/2050 | 12,446,494 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
112
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 7,079,559 (1) | Sunnova Sol II Issuer LLC 2020-2A A, 2.730%, 11/01/2055 | $ | 5,775,245 | 0.1 | ||||||
| 8,248,575 (1) | Sunnova Sol III Issuer LLC 2021-1 A, 2.580%, 04/28/2056 | 6,716,719 | 0.1 | |||||||
| 4,249,233 (1) | Sunrun Athena Issuer LLC 2018-1 A, 5.310%, 04/30/2049 | 4,123,994 | 0.0 | |||||||
| 4,167,564 (1) | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 4,026,415 | 0.0 | |||||||
| 3,075,169 (1) | Sunrun Xanadu Issuer LLC 2019-1A A, 3.980%, 06/30/2054 | 2,923,837 | 0.0 | |||||||
| 15,230,547 (1)(3) | Symphony CLO XVI Ltd. 2015-16A ARR, 6.501%, (TSFR3M + 1.200%), 10/15/2031 | 15,249,661 | 0.2 | |||||||
| 17,019,351 (1)(3) | Symphony CLO XX Ltd. 2018-20A AR2, 6.386%, (TSFR3M + 1.100%), 01/16/2032 | 17,036,030 | 0.2 | |||||||
| 8,450,000 (1)(3) | Symphony CLO XXVI Ltd. 2021-26A CR, 7.544%, (TSFR3M + 2.262%), 04/20/2033 | 8,463,089 | 0.1 | |||||||
| 5,000,000 (1)(3) | TCW CLO Ltd. 2017-1A A2RR, 6.975%, (TSFR3M + 1.712%), 10/29/2034 | 5,003,255 | 0.1 | |||||||
| 13,150,000 (1)(3) | TCW CLO Ltd. 2021-1A C, 7.444%, (TSFR3M + 2.162%), 03/18/2034 | 13,167,568 | 0.1 | |||||||
| 13,950,000 (1)(3) | Texas Debt Capital CLO Ltd. 2023-1A A, 7.082%, (TSFR3M + 1.800%), 04/20/2036 | 14,033,421 | 0.1 | |||||||
| 5,198,000 (1) | Textainer Marine Containers Ltd. 2021-3A A, 1.940%, 08/20/2046 | 4,628,866 | 0.0 | |||||||
| 4,387,000 (1) | Textainer Marine Containers VII Ltd. 2021-1A A, 1.680%, 02/20/2046 | 4,013,633 | 0.0 | |||||||
| 19,873,943 (1)(3) | THL Credit Wind River CLO Ltd. 2015-1A A1R3, 6.482%, (TSFR3M + 1.200%), 10/20/2030 | 19,889,187 | 0.2 | |||||||
| 22,461,437 (1)(3) | TIAA CLO I Ltd. 2016-1A ARR, 6.532%, (TSFR3M + 1.250%), 07/20/2031 | 22,486,145 | 0.2 | |||||||
| 12,450,000 (1) | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 12,816,130 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 15,223,000 (1)(3) | Venture 37 CLO Ltd. 2019-37A A1RR, 6.551%, (TSFR3M + 1.250%), 07/15/2032 | $ | 15,229,074 | 0.2 | ||||||
| 3,440,474 (1) | Wendy’s Funding LLC 2018-1A A2II, 3.884%, 03/15/2048 | 3,344,388 | 0.0 | |||||||
| 10,000,000 (1)(3) | Wind River CLO Ltd. 2021-1A CR, 7.467%, (TSFR3M + 2.250%), 07/20/2037 | 10,014,950 | 0.1 | |||||||
| 15,374,500 (1) | Zaxby’s Funding LLC 2021-1A A2, 3.238%, 07/30/2051 | 14,162,088 | 0.2 | |||||||
| 963,473,568 | 10.3 | |||||||||
| Student Loan Asset-Backed Securities: 1.1% | ||||||||||
| 265,915 (1) | Commonbond Student Loan Trust 2016-B B, 4.000%, 10/25/2040 | 252,546 | 0.0 | |||||||
| 510,355 (1) | Commonbond Student Loan Trust-GS 2017-BGS B, 3.260%, 09/25/2042 | 457,365 | 0.0 | |||||||
| 69,007 (1) | Commonbond Student Loan Trust-GS 2018-AGS C, 3.820%, 02/25/2044 | 58,776 | 0.0 | |||||||
| 2,696,633 (1) | Commonbond Student Loan Trust-GS 2020-AGS A, 1.980%, 08/25/2050 | 2,377,236 | 0.0 | |||||||
| 1,435,885 (1)(3) | ELFI Graduate Loan Program LLC 2021-A B, 2.090%, 12/26/2046 | 1,210,922 | 0.0 | |||||||
| 185,521 (1) | Laurel Road Prime Student Loan Trust 2017-B BFX, 3.020%, 08/25/2042 | 184,148 | 0.0 | |||||||
| 3,633,381 (1) | Laurel Road Prime Student Loan Trust 2020-A A2FX, 1.400%, 11/25/2050 | 3,367,489 | 0.1 | |||||||
| 1,899,399 (1) | Navient Private Education Refi Loan Trust 2020-DA A, 1.690%, 05/15/2069 | 1,787,622 | 0.0 | |||||||
| 2,300,044 (1) | Navient Private Education Refi Loan Trust 2020-GA A, 1.170%, 09/16/2069 | 2,133,078 | 0.0 | |||||||
| 10,482,066 (1) | Navient Private Education Refi Loan Trust 2020-HA A, 1.310%, 01/15/2069 | 9,828,037 | 0.1 | |||||||
| 4,205,226 (1) | Navient Private Education Refi Loan Trust 2021-BA A, 0.940%, 07/15/2069 | 3,807,062 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
113
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Student Loan Asset-Backed Securities: (continued) | ||||||||||
| 1,850,000 (1) | Navient Private Education Refi Loan Trust 2021-FA B, 2.120%, 02/18/2070 | $ | 1,314,743 | 0.0 | ||||||
| 2,700,000 (1) | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | 2,440,579 | 0.0 | |||||||
| 1,450,000 (1) | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 | 1,415,379 | 0.0 | |||||||
| 11,593,660 (1) | SMB Private Education Loan Trust 2019-B A2A, 2.840%, 06/15/2037 | 11,266,534 | 0.1 | |||||||
| 2,238,627 (1) | SMB Private Education Loan Trust 2023-A A1A, 5.380%, 01/15/2053 | 2,289,662 | 0.0 | |||||||
| 21,341,191 (1) | SMB Private Education Loan Trust-A 2020-PTA A2A, 1.600%, 09/15/2054 | 19,907,891 | 0.2 | |||||||
| 3,250,000 (1) | Sofi Professional Loan Program LLC 2018-A B, 3.610%, 02/25/2042 | 3,075,458 | 0.0 | |||||||
| 3,000,000 (1) | Sofi Professional Loan Program LLC 2019-B BFX, 3.730%, 08/17/2048 | 2,778,310 | 0.0 | |||||||
| 3,900,000 (1) | SoFi Professional Loan Program LLC 2017-F BFX, 3.620%, 01/25/2041 | 3,675,014 | 0.1 | |||||||
| 8,000,000 (1) | Sofi Professional Loan Program Trust 2018-B BFX, 3.830%, 08/25/2047 | 7,593,952 | 0.1 | |||||||
| 2,243,120 (1) | Sofi Professional Loan Program Trust 2018-C A2FX, 3.590%, 01/25/2048 | 2,210,361 | 0.0 | |||||||
| 1,046,368 (1) | Sofi Professional Loan Program Trust 2018-D A2FX, 3.600%, 02/25/2048 | 1,030,877 | 0.0 | |||||||
| 5,800,000 (1) | SoFi Professional Loan Program Trust 2018-C BFX, 4.130%, 01/25/2048 | 5,503,779 | 0.1 | |||||||
| 6,000,000 (1) | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 | 5,700,301 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| ASSET-BACKED SECURITIES: (continued) | |||||||||||
| Student Loan Asset-Backed Securities: (continued) | |||||||||||
| 5,622,316 (1) | SoFi Professional Loan Program Trust 2020-C AFX, 1.950%, 02/15/2046 | $ | 5,275,086 | 0.1 | |||||||
| 100,942,207 | 1.1 | ||||||||||
| Total Asset-Backed Securities (Cost $1,125,208,337) | 1,110,773,492 | 11.9 | |||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: 9.8% | |||||||||||
| 2,374,918 (1)(3) | ACRES Commercial Realty Ltd. 2021-FL1 A, 6.397%, (TSFR1M + 1.314%), 06/15/2036 | 2,362,496 | 0.0 | ||||||||
| 11,831,576 (1)(3) | AREIT LLC 2023-CRE8 A, 7.195%, (TSFR1M + 2.112%), 08/17/2041 | 11,899,068 | 0.1 | ||||||||
| 2,500,000 (1)(3) | AREIT Ltd. 2024-CRE9 A, 6.769%, (TSFR1M + 1.686%), 05/17/2041 | 2,509,994 | 0.0 | ||||||||
| 5,000,000 (1)(3) | ARES Commercial Mortgage Trust 2024-IND A, 6.788%, (TSFR1M + 1.692%), 07/15/2041 | 5,015,066 | 0.1 | ||||||||
| 10,000,000 (1)(3) | ARES1 2024-IND2 A, 6.293%, (TSFR1M + 1.443%), 10/15/2034 | 10,011,878 | 0.1 | ||||||||
| 1,500,000 (1) | ARZ Trust 2024-BILT C, 6.361%, 06/11/2029 | 1,547,721 | 0.0 | ||||||||
| 5,000,000 (1)(3) | BAMLL Trust 2024-BHP A, 7.447%, (TSFR1M + 2.350%), 08/15/2039 | 5,029,181 | 0.1 | ||||||||
| 1,000,000 (1)(3) | BAMLL Trust 2024-BHP B, 7.997%, (TSFR1M + 2.900%), 08/15/2039 | 1,005,408 | 0.0 | ||||||||
| 2,500,000 | BANK 2017-BNK4 A4, 3.625%, 05/15/2050 | 2,434,746 | 0.0 | ||||||||
| 4,656,000 (1) | BANK 2017-BNK4 D, 3.357%, 05/15/2050 | 3,179,938 | 0.0 | ||||||||
| 28,434,487 (3)(6) | BANK 2017-BNK4 XA, 1.493%, 05/15/2050 | 713,930 | 0.0 | ||||||||
| 167,655,000 (3)(6) | BANK 2017-BNK8 XB, 0.229%, 11/15/2050 | 906,854 | 0.0 | ||||||||
| 3,600,000 (1) | BANK 2017-BNK9 D, 2.800%, 11/15/2054 | 2,393,964 | 0.0 | ||||||||
| 176,415,431 (3)(6) | BANK 2018-BN14 XA, 0.652%, 09/15/2060 | 2,845,078 | 0.0 | ||||||||
| 19,110,000 (1)(3)(6) | BANK 2018-BN14 XD, 1.769%, 09/15/2060 | 1,042,956 | 0.0 | ||||||||
| 22,863,173 (3)(6) | BANK 2019-BN16 XA, 1.096%, 02/15/2052 | 750,878 | 0.0 | ||||||||
| 98,141,838 (3)(6) | BANK 2019-BN19 XA, 1.070%, 08/15/2061 | 3,749,043 | 0.0 | ||||||||
| 1,000,000 (3) | BANK 2019-BN24 C, 3.634%, 11/15/2062 | 824,422 | 0.0 | ||||||||
See Accompanying Notes to Financial Statements
114
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 6,015,365 (3)(6) | BANK 2020-BN30 XA, 1.387%, 12/15/2053 | $ | 356,192 | 0.0 | ||||||
| 5,000,000 | BANK5 2024-5YR7 A3, 5.769%, 06/15/2057 | 5,237,491 | 0.1 | |||||||
| 525,000 | BANK5 Trust 2024-5YR6 A3, 6.225%, 05/15/2057 | 559,391 | 0.0 | |||||||
| 92,840,000 (1)(3)(6) | BBCCRE Trust 2015-GTP XA, 0.749%, 08/10/2033 | 346,256 | 0.0 | |||||||
| 3,000,000 | BBCMS Mortgage Trust 2020-C7 AS, 2.444%, 04/15/2053 | 2,591,066 | 0.0 | |||||||
| 5,000,000 | BBCMS Mortgage Trust 2021-C12 A5, 2.689%, 11/15/2054 | 4,448,507 | 0.1 | |||||||
| 10,872,542 (3)(6) | BBCMS Mortgage Trust 2022-C17 XA, 1.325%, 09/15/2055 | 777,214 | 0.0 | |||||||
| 4,000,000 | BBCMS Mortgage Trust 2024-5C27 A3, 6.014%, 07/15/2057 | 4,237,470 | 0.1 | |||||||
| 5,250,000 | BBCMS Mortgage Trust 2024-5C29 B, 5.858%, 09/15/2057 | 5,389,810 | 0.1 | |||||||
| 19,231,281 (3)(6) | BBCMS Trust 2021-C10 XA, 1.337%, 07/15/2054 | 1,132,495 | 0.0 | |||||||
| 2,000,000 (1)(3) | BDS LLC 2024-FL13 A, 6.776%, (TSFR1M + 1.576%), 09/19/2039 | 2,006,751 | 0.0 | |||||||
| 2,156,558 (1)(3) | BDS Ltd. 2021-FL10 A, 6.479%, (TSFR1M + 1.464%), 12/16/2036 | 2,154,817 | 0.0 | |||||||
| 4,000,000 (3) | Benchmark Mortgage Trust 2018-B5 C, 4.752%, 07/15/2051 | 3,561,781 | 0.0 | |||||||
| 49,798,854 (3)(6) | Benchmark Mortgage Trust 2019-B12 XA, 1.209%, 08/15/2052 | 1,849,388 | 0.0 | |||||||
| 34,606,790 (3)(6) | Benchmark Mortgage Trust 2019-B9 XA, 1.181%, 03/15/2052 | 1,277,842 | 0.0 | |||||||
| 92,130,023 (3)(6) | Benchmark Mortgage Trust 2020-B17 XA, 1.534%, 03/15/2053 | 4,896,642 | 0.1 | |||||||
| 107,900,710 (3)(6) | Benchmark Mortgage Trust 2020-B19 XA, 1.871%, 09/15/2053 | 6,291,491 | 0.1 | |||||||
| 59,429,975 (3)(6) | Benchmark Mortgage Trust 2020-B20 XA, 1.719%, 10/15/2053 | 3,538,214 | 0.0 | |||||||
| 47,131,378 (3)(6) | Benchmark Mortgage Trust 2020-B21 XA, 1.552%, 12/17/2053 | 2,844,881 | 0.0 | |||||||
| 4,890,820 (3)(6) | Benchmark Mortgage Trust 2021-B28 XA, 1.377%, 08/15/2054 | 297,387 | 0.0 | |||||||
| 2,250,000 (1) | Benchmark Mortgage Trust 2021-B30 D, 2.000%, 11/15/2054 | 1,445,191 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 3,000,000 (3) | Benchmark Mortgage Trust 2022-B34 A5, 3.786%, 04/15/2055 | $ | 2,768,916 | 0.0 | ||||||
| 2,670,000 (3) | Benchmark Mortgage Trust 2023-V3 A3, 6.363%, 07/15/2056 | 2,832,876 | 0.0 | |||||||
| 5,000,000 (3) | Benchmark Mortgage Trust 2024-V7 A3, 6.228%, 05/15/2056 | 5,339,527 | 0.1 | |||||||
| 5,000,000 (3) | Benchmark Mortgage Trust 2024-V8 A3, 6.189%, 07/15/2057 | 5,338,968 | 0.1 | |||||||
| 3,000,000 | Benchmark Mortgage Trust 2024-V9 AS, 6.064%, 08/15/2057 | 3,137,854 | 0.0 | |||||||
| 5,000,000 (1)(3) | BFLD Mortgage Trust 2024-WRHS C, 7.537%, (TSFR1M + 2.441%), 08/15/2026 | 5,006,582 | 0.1 | |||||||
| 2,100,000 (1)(3) | BIG Commercial Mortgage Trust 2022-BIG B, 6.838%, (TSFR1M + 1.741%), 02/15/2039 | 2,081,748 | 0.0 | |||||||
| 2,500,000 (1)(3) | BLP Commercial Mortgage Trust 2024-IND2 C, 6.988%, (TSFR1M + 1.891%), 03/15/2041 | 2,494,739 | 0.0 | |||||||
| 10,895,555 (1)(8) | BMD2 Re-Remic Trust 2019-FRR1 3AB, 0.000%, 05/25/2052 | 8,527,186 | 0.1 | |||||||
| 7,671,000 (1) | BMD2 Re-Remic Trust 2019-FRR1 6B10, 2.440%, 05/25/2052 | 6,186,573 | 0.1 | |||||||
| 5,000,000 | BMO Mortgage Trust 2024-5C5 A3, 5.857%, 02/15/2057 | 5,270,691 | 0.1 | |||||||
| 2,500,000 | BMO Mortgage Trust 2024-5C6 A3, 5.316%, 09/15/2057 | 2,576,689 | 0.0 | |||||||
| 750,000 (3) | BMO Mortgage Trust 2024-5C6 C, 5.885%, 09/15/2057 | 754,539 | 0.0 | |||||||
| 5,000,000 (1)(3) | BMP 2024-MF23 C, 6.938%, (TSFR1M + 1.841%), 06/15/2041 | 4,991,227 | 0.1 | |||||||
| 5,000,000 (1)(3) | BOCA Commercial Mortgage Trust 2024-BOCA A, 7.017%, (TSFR1M + 1.921%), 08/15/2041 | 5,010,262 | 0.1 | |||||||
| 5,000,000 (1)(3) | BX 2024-BRVE A, 6.938%, (TSFR1M + 1.841%), 04/15/2026 | 5,006,203 | 0.1 | |||||||
| 6,000,000 (1)(3) | BX 2024-PALM A, 6.638%, (TSFR1M + 1.541%), 06/15/2037 | 6,007,846 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
115
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 5,302,500 (1)(3) | BX Commercial Mortgage Trust 2021-21M E, 7.382%, (TSFR1M + 2.285%), 10/15/2036 | $ | 5,243,347 | 0.1 | ||||||
| 4,000,000 (1)(3) | BX Commercial Mortgage Trust 2021-IRON E, 7.561%, (TSFR1M + 2.464%), 02/15/2038 | 3,822,290 | 0.0 | |||||||
| 1,898,475 (1)(3) | BX Commercial Mortgage Trust 2021-VOLT A, 5.911%, (TSFR1M + 0.814%), 09/15/2036 | 1,887,616 | 0.0 | |||||||
| 1,484,708 (1)(3) | BX Commercial Mortgage Trust 2021-VOLT D, 6.861%, (TSFR1M + 1.764%), 09/15/2036 | 1,470,492 | 0.0 | |||||||
| 1,500,000 (1)(3) | BX Commercial Mortgage Trust 2021-VOLT F, 7.611%, (TSFR1M + 2.514%), 09/15/2036 | 1,490,686 | 0.0 | |||||||
| 5,000,000 (1)(3) | BX Commercial Mortgage Trust 2023-VLT3 A, 7.037%, (TSFR1M + 1.940%), 11/15/2028 | 4,984,474 | 0.1 | |||||||
| 3,872,956 (1)(3) | BX Commercial Mortgage Trust 2023-XL3 A, 6.858%, (TSFR1M + 1.761%), 12/09/2040 | 3,891,208 | 0.0 | |||||||
| 3,500,000 (1)(3) | BX Commercial Mortgage Trust 2024-AIR2 A, 6.592%, (TSFR1M + 1.492%), 10/15/2041 | 3,505,816 | 0.0 | |||||||
| 5,000,000 (1)(3) | BX Commercial Mortgage Trust 2024-AIRC A, 6.788%, (TSFR1M + 1.691%), 08/15/2039 | 5,015,199 | 0.1 | |||||||
| 5,000,000 (1)(3) | BX Commercial Mortgage Trust 2024-KING A, 6.638%, (TSFR1M + 1.541%), 05/15/2034 | 5,006,402 | 0.1 | |||||||
| 2,837,868 (1)(3) | BX Commercial Mortgage Trust 2024-MDHS A, 6.738%, (TSFR1M + 1.641%), 05/15/2041 | 2,846,118 | 0.0 | |||||||
| 5,295,904 (1)(3) | BX Commercial Mortgage Trust 2024-MF D, 7.786%, (TSFR1M + 2.690%), 02/15/2039 | 5,297,893 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 9,245,675 (1)(3) | BX Commercial Mortgage Trust 2024-XL5 C, 7.037%, (TSFR1M + 1.941%), 03/15/2041 | $ | 9,223,792 | 0.1 | ||||||
| 2,815,000 (1)(3) | BX Trust 2021-ARIA B, 6.508%, (TSFR1M + 1.411%), 10/15/2036 | 2,801,200 | 0.0 | |||||||
| 3,800,000 (1)(3) | BX Trust 2021-LBA EJV, 7.211%, (TSFR1M + 2.114%), 02/15/2036 | 3,729,900 | 0.0 | |||||||
| 1,423,458 (1)(3) | BX Trust 2021-LBA EV, 7.211%, (TSFR1M + 2.114%), 02/15/2036 | 1,391,096 | 0.0 | |||||||
| 941,921 (1)(3) | BX Trust 2021-SDMF E, 6.798%, (TSFR1M + 1.701%), 09/15/2034 | 915,015 | 0.0 | |||||||
| 800,758 (1)(3) | BX Trust 2022-FOX2 C, 6.406%, (TSFR1M + 1.309%), 04/15/2039 | 780,835 | 0.0 | |||||||
| 1,180,000 (1)(3) | BX Trust 2022-LBA6 C, 6.697%, (TSFR1M + 1.600%), 01/15/2039 | 1,169,846 | 0.0 | |||||||
| 1,250,000 (1)(3) | BX Trust 2022-LBA6 D, 7.097%, (TSFR1M + 2.000%), 01/15/2039 | 1,236,807 | 0.0 | |||||||
| 5,000,000 (1)(3) | BX Trust 2024-BIO B, 7.038%, (TSFR1M + 1.941%), 02/15/2041 | 4,975,773 | 0.1 | |||||||
| 1,780,334 (1)(3) | BX Trust 2024-CNYN C, 7.038%, (TSFR1M + 1.941%), 04/15/2041 | 1,778,358 | 0.0 | |||||||
| 1,236,343 (1)(3) | BX Trust 2024-CNYN D, 7.787%, (TSFR1M + 2.690%), 04/15/2041 | 1,240,038 | 0.0 | |||||||
| 5,000,000 (1)(3) | BX Trust 2024-VLT4 A, 6.588%, (TSFR1M + 1.491%), 07/15/2029 | 5,007,820 | 0.1 | |||||||
| 3,000,000 (1)(3) | BXSC Commercial Mortgage Trust 2022-WSS E, 9.231%, (TSFR1M + 4.134%), 03/15/2035 | 2,980,854 | 0.0 | |||||||
| 4,000,000 (1)(3) | Caliun 2024-SUN A, 6.988%, (TSFR1M + 1.891%), 07/15/2041 | 4,010,407 | 0.0 | |||||||
| 2,000,000 (3) | Cantor Commercial Real Estate Lending 2019-CF3 C, 3.722%, 01/15/2053 | 1,576,882 | 0.0 | |||||||
| 71,085,827 (3)(6) | CCUBS Commercial Mortgage Trust 2017-C1 XA, 1.160%, 11/15/2050 | 1,719,101 | 0.0 | |||||||
| 19,835,303 (3)(6) | CD Mortgage Trust 2016-CD1 XA, 1.477%, 08/10/2049 | 291,364 | 0.0 | |||||||
| 45,113,000 (1)(3)(6) | CD Mortgage Trust 2016-CD1 XB, 0.810%, 08/10/2049 | 441,061 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
116
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 26,161,040 (3)(6) | CD Mortgage Trust 2017-CD4 XA, 1.375%, 05/10/2050 | $ | 652,730 | 0.0 | ||||||
| 1,500,000 (3) | CFCRE Commercial Mortgage Trust 2016-C7 C, 4.510%, 12/10/2054 | 1,349,189 | 0.0 | |||||||
| 2,000,000 (1) | CFK Trust 2020-MF2 C, 2.995%, 03/15/2039 | 1,751,931 | 0.0 | |||||||
| 3,000,000 (3) | Citigroup Commercial Mortgage Trust 2015-GC31 AS, 4.165%, 06/10/2048 | 2,823,883 | 0.0 | |||||||
| 5,000,000 (3) | Citigroup Commercial Mortgage Trust 2015-GC35 AS, 4.072%, 11/10/2048 | 4,658,390 | 0.1 | |||||||
| 3,000,000 | Citigroup Commercial Mortgage Trust 2016-C1 B, 4.117%, 05/10/2049 | 2,919,608 | 0.0 | |||||||
| 5,000,000 | Citigroup Commercial Mortgage Trust 2016-GC36 A5, 3.616%, 02/10/2049 | 4,886,696 | 0.1 | |||||||
| 3,000,000 | Citigroup Commercial Mortgage Trust 2016-GC37 A4, 3.314%, 04/10/2049 | 2,936,801 | 0.0 | |||||||
| 35,313,986 (3)(6) | Citigroup Commercial Mortgage Trust 2016-P4 XA, 2.046%, 07/10/2049 | 822,611 | 0.0 | |||||||
| 63,090,640 (3)(6) | Citigroup Commercial Mortgage Trust 2017-C4 XA, 1.126%, 10/12/2050 | 1,461,176 | 0.0 | |||||||
| 37,911,780 (3)(6) | Citigroup Commercial Mortgage Trust 2017-P8 XA, 1.005%, 09/15/2050 | 772,197 | 0.0 | |||||||
| 69,426,742 (3)(6) | Citigroup Commercial Mortgage Trust 2018-C5 XA, 0.826%, 06/10/2051 | 1,472,729 | 0.0 | |||||||
| 2,230,000 (3) | Citigroup Commercial Mortgage Trust 2020-GC46 B, 3.150%, 02/15/2053 | 1,901,614 | 0.0 | |||||||
| 2,989,177 | Citigroup Commercial Mortgage Trust 2022-GC48 A5, 4.742%, 05/15/2054 | 2,988,265 | 0.0 | |||||||
| 799,000 (1)(3) | Citigroup Commercial Mortgage Trust 2023-SMRT C, 6.048%, 10/12/2040 | 807,000 | 0.0 | |||||||
| 1,000,000 (1)(3) | Citigroup Commercial Mortgage Trust 2023-SMRT D, 6.048%, 10/12/2040 | 994,174 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 3,918,066 (1)(3) | CLNY Trust 2019-IKPR A, 6.362%, (TSFR1M + 1.243%), 11/15/2038 | $ | 3,868,329 | 0.0 | ||||||
| 27,260,000 (1)(3)(6) | COMM Mortgage Trust 2012-CR4 XB, 0.509%, 10/15/2045 | 192,550 | 0.0 | |||||||
| 1,027,365 (1)(3) | COMM Mortgage Trust 2013-CR10 E, 4.380%, 08/10/2046 | 921,290 | 0.0 | |||||||
| 3,922,000 | COMM Mortgage Trust 2014-UBS4 AM, 3.968%, 08/10/2047 | 3,726,125 | 0.0 | |||||||
| 10,000,000 | COMM Mortgage Trust 2015-CR23 AM, 3.801%, 05/10/2048 | 9,876,371 | 0.1 | |||||||
| 2,650,000 (3) | COMM Mortgage Trust 2015-CR23 B, 4.183%, 05/10/2048 | 2,561,001 | 0.0 | |||||||
| 5,000,000 | COMM Mortgage Trust 2015-CR25 A4, 3.759%, 08/10/2048 | 4,949,129 | 0.1 | |||||||
| 3,500,000 (3) | COMM Mortgage Trust 2015-CR27 B, 4.487%, 10/10/2048 | 3,307,096 | 0.0 | |||||||
| 82,608,070 (1)(3)(6) | COMM Mortgage Trust 2015-PC1 XA, 0.490%, 07/10/2050 | 67,379 | 0.0 | |||||||
| 3,000,000 | COMM Mortgage Trust 2016-CR28 A4, 3.762%, 02/10/2049 | 2,958,968 | 0.0 | |||||||
| 48,881,403 (3)(6) | COMM Mortgage Trust 2016-CR28 XA, 0.710%, 02/10/2049 | 242,290 | 0.0 | |||||||
| 32,310,803 (3)(6) | COMM Mortgage Trust 2017-COR2 XA, 1.305%, 09/10/2050 | 813,685 | 0.0 | |||||||
| 5,215,090 (1)(3) | COMM Mortgage Trust 2020-CBM F, 3.754%, 02/10/2037 | 4,875,085 | 0.1 | |||||||
| 1,500,000 (1)(3) | CONE Trust 2024-DFW1 A, 6.738%, (TSFR1M + 1.642%), 08/15/2041 | 1,502,653 | 0.0 | |||||||
| 1,722,193 (3) | Csail Commercial Mortgage Trust 2015-C2 AS, 3.849%, 06/15/2057 | 1,681,613 | 0.0 | |||||||
| 4,000,000 | CSAIL Commercial Mortgage Trust 2019-C16 A3, 3.329%, 06/15/2052 | 3,753,877 | 0.0 | |||||||
| 3,746,000 (3) | CSAIL Commercial Mortgage Trust 2020-C19 B, 3.476%, 03/15/2053 | 3,121,497 | 0.0 | |||||||
| 3,000,000 (3) | CSAIL Commercial Mortgage Trust 2020-C19 C, 3.734%, 03/15/2053 | 2,423,785 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
117
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,250,000 (1)(3) | DBGS 2024-SBL A, 6.979%, (TSFR1M + 1.882%), 08/15/2034 | $ | 1,250,489 | 0.0 | ||||||
| 5,000,000 (1) | DC Commercial Mortgage Trust 2023-DC A, 6.314%, 09/12/2040 | 5,249,644 | 0.1 | |||||||
| 7,000,000 (1)(3) | DC Trust 2024-HLTN A, 5.933%, 04/13/2040 | 7,147,201 | 0.1 | |||||||
| 2,500,000 (1)(3) | DK Trust 2024-SPBX C, 7.047%, (TSFR1M + 1.950%), 03/15/2034 | 2,491,043 | 0.0 | |||||||
| 2,750,000 (1)(3) | DK Trust 2024-SPBX D, 7.847%, (TSFR1M + 2.750%), 03/15/2034 | 2,742,009 | 0.0 | |||||||
| 2,000,000 (1)(3) | DTP Commercial Mortgage Trust 2023-STE2 A, 6.038%, 01/15/2041 | 2,054,279 | 0.0 | |||||||
| 3,439,397 (1)(3) | Extended Stay America Trust 2021-ESH E, 8.061%, (TSFR1M + 2.964%), 07/15/2038 | 3,445,686 | 0.0 | |||||||
| 7,500,000 (1) | Fashion Show Mall LLC 2024-SHOW A, 5.274%, 10/10/2029 | 7,493,555 | 0.1 | |||||||
| 10,026,006 (1)(3)(6) | Freddie Mac Multifamily ML Certificates 2021-ML11 XUS, 0.770%, 03/25/2038 | 497,715 | 0.0 | |||||||
| 15,173,773 (1) | Freddie Mac Multifamily ML Certificates US XUS, 1.846%, 07/25/2037 | 2,018,660 | 0.0 | |||||||
| 67,882,545 (3)(6) | Freddie Mac Multifamily Structured Pass Through Certificates K109 X1, 1.692%, 04/25/2030 | 4,793,835 | 0.1 | |||||||
| 100,352,812 (3)(6) | Freddie Mac Multifamily Structured Pass Through Certificates K119 X1, 1.020%, 09/25/2030 | 4,420,712 | 0.1 | |||||||
| 40,726,829 (3)(6) | Freddie Mac Multifamily Structured Pass Through Certificates K123 X1, 0.860%, 12/25/2030 | 1,576,234 | 0.0 | |||||||
| 72,897,604 (3)(6) | Freddie Mac Multifamily Structured Pass Through Certificates K151 X1, 0.490%, 04/25/2030 | 1,196,450 | 0.0 | |||||||
| 13,246,201 (3)(6) | Freddie Mac Multifamily Structured Pass Through Certificates K-1516 X1, 1.628%, 05/25/2035 | 1,516,662 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 8,971,340 (1)(8) | FRR Re-REMIC Trust 2018-C1 CK43, 0.000%, 02/27/2048 | $ | 8,745,547 | 0.1 | ||||||
| 4,475,000 (1)(3) | FS Trust 2024-HULA A, 6.908%, (TSFR1M + 1.811%), 08/15/2039 | 4,489,153 | 0.1 | |||||||
| 8,893,444 (1)(8) | GAM Re-REMIC Trust 2021-FRR1 1B, 0.000%, 11/29/2050 | 7,379,103 | 0.1 | |||||||
| 15,763,000 (1)(8) | GAM Re-REMIC Trust 2021-FRR1 2B, 0.000%, 11/29/2050 | 12,727,927 | 0.1 | |||||||
| 11,035,000 (1)(8) | GAM RE-REMIC Trust 2022-FRR3 BK61, 0.000%, 11/27/2049 | 9,189,412 | 0.1 | |||||||
| 18,225,509 (1) | GAM RE-REMIC Trust 2022-FRR3 BK71, 1.990%, 11/27/2050 | 15,462,805 | 0.2 | |||||||
| 10,668,000 (1)(8) | GAM RE-REMIC Trust 2022-FRR3 BK89, 0.000%, 01/27/2052 | 7,867,592 | 0.1 | |||||||
| 355,084 (1)(8) | GAM RE-REMIC Trust 2022-FRR3 C728, 0.000%, 08/27/2050 | 353,033 | 0.0 | |||||||
| 7,212,000 (1)(8) | GAM RE-REMIC Trust 2022-FRR3 CK47, 0.000%, 05/27/2048 | 6,816,694 | 0.1 | |||||||
| 7,080,000 (1)(8) | GAM RE-REMIC Trust 2022-FRR3 D728, 0.000%, 08/27/2050 | 7,018,996 | 0.1 | |||||||
| 5,626,000 (1)(8) | GAM RE-REMIC Trust 2022-FRR3 DK41, 0.000%, 10/27/2047 | 5,559,152 | 0.1 | |||||||
| 7,208,000 (1)(8) | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 6,717,951 | 0.1 | |||||||
| 9,757,000 (1) | GAM RE-REMIC TRUST 2021-FRR2 BK78, 2.390%, 09/27/2051 | 7,931,450 | 0.1 | |||||||
| 8,825,000 (1)(8) | GAM RE-REMIC TRUST 2021-FRR2 C730, 0.000%, 09/27/2051 | 8,604,292 | 0.1 | |||||||
| 10,728,000 (1)(8) | GAM RE-REMIC TRUST 2021-FRR2 CK44, 0.000%, 09/27/2051 | 10,396,872 | 0.1 | |||||||
| 6,689,324 (1) | GAM RE-REMIC TRUST 2021-FRR2 CK49, 1.000%, 09/27/2051 | 6,303,291 | 0.1 | |||||||
| 7,409,000 (1)(8) | GAM RE-REMIC TRUST 2021-FRR2 CK78, 0.000%, 09/27/2051 | 5,226,362 | 0.1 | |||||||
| 8,821,000 (1)(8) | GAM RE-REMIC TRUST 2021-FRR2 D730, 0.000%, 09/27/2051 | 8,575,401 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
118
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 8,724,000 (1)(8) | GAM RE-REMIC TRUST 2021-FRR2 DK49, 0.000%, 09/27/2051 | $ | 8,012,442 | 0.1 | ||||||
| 3,900,000 (1)(3) | Great Wolf Trust 2024-WOLF D, 7.987%, (TSFR1M + 2.890%), 03/15/2039 | 3,914,212 | 0.0 | |||||||
| 2,800,000 (1)(3) | GS Mortgage Securities Corp. Trust 2021-ARDN A, 6.461%, (TSFR1M + 1.364%), 11/15/2036 | 2,774,923 | 0.0 | |||||||
| 11,107,486 (3)(6) | GS Mortgage Securities Trust 2014-GC22 XA, 0.746%, 06/10/2047 | 87,504 | 0.0 | |||||||
| 5,000,000 (3) | GS Mortgage Securities Trust 2015-GC30 AS, 3.777%, 05/10/2050 | 4,877,640 | 0.1 | |||||||
| 2,500,000 (3) | GS Mortgage Securities Trust 2016-GS3 C, 4.104%, 10/10/2049 | 2,272,618 | 0.0 | |||||||
| 55,903,632 (3)(6) | GS Mortgage Securities Trust 2016-GS4 XA, 0.684%, 11/10/2049 | 485,056 | 0.0 | |||||||
| 65,751,968 (3)(6) | GS Mortgage Securities Trust 2017-GS6 XA, 1.153%, 05/10/2050 | 1,330,284 | 0.0 | |||||||
| 500,000 (3) | GS Mortgage Securities Trust 2018-GS9 B, 4.321%, 03/10/2051 | 461,442 | 0.0 | |||||||
| 66,755,959 (3)(6) | GS Mortgage Securities Trust 2019-GC38 XA, 1.170%, 02/10/2052 | 2,447,010 | 0.0 | |||||||
| 3,261,000 | GS Mortgage Securities Trust 2019-GC39 B, 3.970%, 05/10/2052 | 2,840,811 | 0.0 | |||||||
| 1,015,000 | GS Mortgage Securities Trust 2019-GC42 B, 3.363%, 09/10/2052 | 903,122 | 0.0 | |||||||
| 4,000,000 | GS Mortgage Securities Trust 2019-GSA1 A4, 3.048%, 11/10/2052 | 3,753,566 | 0.0 | |||||||
| 3,000,000 (1)(3) | GSMS Trustair 2024-FAIR C, 7.120%, 07/15/2029 | 3,102,393 | 0.0 | |||||||
| 4,250,000 (1)(3) | GWT 2024-WLF2 A, 6.788%, (TSFR1M + 1.691%), 05/15/2041 | 4,257,374 | 0.1 | |||||||
| 5,000,000 (1)(3) | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL A, 6.638%, (TSFR1M + 1.541%), 05/15/2037 | 4,998,772 | 0.1 | |||||||
| 6,000,000 (1)(3) | HLTN Commercial Mortgage Trust 2024-DPLO A, 6.738%, (TSFR1M + 1.642%), 06/15/2041 | 5,999,285 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 6,000,000 (1) | HTL Commercial Mortgage Trust 2024-T53 A, 6.071%, 05/10/2039 | $ | 6,137,417 | 0.1 | ||||||
| 2,400,000 (1)(3) | HYT Commercial Mortgage Trust 2024-RGCY A, 6.938%, (TSFR1M + 1.841%), 09/15/2041 | 2,401,874 | 0.0 | |||||||
| 2,600,000 (1)(3) | HYT Commercial Mortgage Trust 2024-RGCY B, 7.437%, (TSFR1M + 2.341%), 09/15/2041 | 2,603,283 | 0.0 | |||||||
| 6,000,000 (1)(3) | ILPT Commercial Mortgage Trust 2022-LPF2 A, 7.342%, (TSFR1M + 2.245%), 10/15/2039 | 6,003,747 | 0.1 | |||||||
| 3,000,000 (1)(3) | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024-OMNI A, 5.797%, 10/05/2039 | 3,076,696 | 0.0 | |||||||
| 2,000,000 (1)(3) | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024-OMNI C, 5.797%, 10/05/2039 | 2,021,612 | 0.0 | |||||||
| 4,734,000 | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP2 B, 3.460%, 08/15/2049 | 4,304,251 | 0.1 | |||||||
| 5,075,000 | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP3 A5, 2.870%, 08/15/2049 | 4,885,541 | 0.1 | |||||||
| 1,206,000 (3) | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP3 B, 3.397%, 08/15/2049 | 1,049,975 | 0.0 | |||||||
| 74,609,823 (3)(6) | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP4 XA, 0.705%, 12/15/2049 | 675,909 | 0.0 | |||||||
| 650,000 (1)(3) | JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH E, 7.301%, (TSFR1M + 2.204%), 06/15/2038 | 574,032 | 0.0 | |||||||
| 2,592,839 (3) | JPMBB Commercial Mortgage Securities Trust 2014-C23 C, 4.714%, 09/15/2047 | 2,511,456 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
119
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 4,998,000 (3) | JPMBB Commercial Mortgage Securities Trust 2014-C25 B, 4.347%, 11/15/2047 | $ | 4,581,447 | 0.1 | ||||||
| 968,644 (3)(6) | JPMBB Commercial Mortgage Securities Trust 2015-C28 XA, 1.003%, 10/15/2048 | 2,320 | 0.0 | |||||||
| 3,000,000 (3) | JPMBB Commercial Mortgage Securities Trust 2015-C29 AS, 3.917%, 05/15/2048 | 2,956,928 | 0.0 | |||||||
| 3,200,000 (3) | JPMBB Commercial Mortgage Securities Trust 2015-C29 B, 4.118%, 05/15/2048 | 3,074,946 | 0.0 | |||||||
| 4,441,000 (3) | JPMBB Commercial Mortgage Securities Trust 2015-C29 C, 4.326%, 05/15/2048 | 3,894,718 | 0.0 | |||||||
| 4,025,929 | JPMBB Commercial Mortgage Securities Trust 2015-C31 A3, 3.801%, 08/15/2048 | 3,971,850 | 0.0 | |||||||
| 4,500,000 | JPMDB Commercial Mortgage Securities Trust 2016-C4 A3, 3.141%, 12/15/2049 | 4,296,640 | 0.1 | |||||||
| 1,730,000 (1) | Key Commercial Mortgage Securities Trust 2018-S1 AS, 4.842%, 10/15/2053 | 1,668,540 | 0.0 | |||||||
| 5,000,000 (1)(3) | KIND Commercial Mortgage Trust 2024-1 A, 6.987%, (TSFR1M + 1.890%), 08/15/2041 | 5,017,750 | 0.1 | |||||||
| 2,479,300 (1)(3) | KIND Trust 2021-KIND A, 6.164%, (TSFR1M + 1.064%), 08/15/2038 | 2,441,877 | 0.0 | |||||||
| 5,000,000 (1)(3) | KSL Commercial Mortgage Trust 2023-HT A, 7.387%, (TSFR1M + 2.290%), 12/15/2036 | 5,022,792 | 0.1 | |||||||
| 832,098 (1)(3) | LAQ Mortgage Trust 2023-LAQ A, 7.188%, (TSFR1M + 2.091%), 03/15/2036 | 833,408 | 0.0 | |||||||
| 10,000,000 (1)(3) | LBA Trust 2024-7IND A, 6.543%, (TSFR1M + 1.443%), 10/15/2041 | 10,009,984 | 0.1 | |||||||
| 6,000,000 (1)(3) | LBA Trust 2024-BOLT A, 6.688%, (TSFR1M + 1.591%), 06/15/2026 | 6,009,983 | 0.1 | |||||||
| 4,000,000 (1) | LEX Mortgage Trust 2024-BBG A, 4.874%, 10/13/2033 | 4,022,238 | 0.0 | |||||||
| 475,881 (1)(3) | Life Mortgage Trust 2021-BMR F, 7.561%, (TSFR1M + 2.464%), 03/15/2038 | 458,924 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 5,000,000 (1)(3) | Life Mortgage Trust 2022-BMR2 A1, 6.392%, (TSFR1M + 1.295%), 05/15/2039 | $ | 4,869,566 | 0.1 | ||||||
| 34,178,549 (1)(3)(6) | LSTAR Commercial Mortgage Trust 2017-5 X, 0.989%, 03/10/2050 | 475,427 | 0.0 | |||||||
| 3,453,048 (1)(3) | MCR Mortgage Trust 2024-HTL D, 9.002%, (TSFR1M + 3.905%), 02/15/2037 | 3,467,235 | 0.0 | |||||||
| 5,000,000 (1) | MCR Mortgage Trust 2024-TWA A, 5.924%, 06/12/2039 | 5,120,403 | 0.1 | |||||||
| 5,200,000 (1)(3) | MED Commercial Mortgage Trust 2024-MOB A, 6.688%, (TSFR1M + 1.592%), 05/15/2041 | 5,189,449 | 0.1 | |||||||
| 4,957,661 (1)(3) | MF1 LLC 2022-FL9 A, 7.115%, (TSFR1M + 2.150%), 06/19/2037 | 4,977,876 | 0.1 | |||||||
| 6,250,000 | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C20 A4, 3.249%, 02/15/2048 | 6,219,957 | 0.1 | |||||||
| 1,400,000 (3) | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25 B, 4.668%, 10/15/2048 | 1,345,095 | 0.0 | |||||||
| 3,500,000 (3) | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27 B, 4.635%, 12/15/2047 | 3,361,579 | 0.0 | |||||||
| 5,000,000 | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30 A5, 2.860%, 09/15/2049 | 4,814,657 | 0.1 | |||||||
| 4,000,000 (3) | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30 B, 3.307%, 09/15/2049 | 3,640,962 | 0.0 | |||||||
| 4,000,000 | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34 A4, 3.536%, 11/15/2052 | 3,852,055 | 0.0 | |||||||
| 39,146,011 (3)(6) | Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 2014-C19 XA, 1.056%, 12/15/2047 | 30,600 | 0.0 | |||||||
| 36,984,878 (3)(6) | Morgan Stanley Capital I 2017-HR2 XA, 0.992%, 12/15/2050 | 834,151 | 0.0 | |||||||
| 30,498,858 (3)(6) | Morgan Stanley Capital I Trust 2021-L6 XA, 1.289%, 06/15/2054 | 1,478,136 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
120
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 5,000,000 (1)(3) | MTN Commercial Mortgage Trust 2022-LPFL A, 6.497%, (TSFR1M + 1.397%), 03/15/2039 | $ | 4,970,445 | 0.1 | ||||||
| 4,000,000 (1)(3) | NYC Trust 2024-3ELV A, 7.087%, (TSFR1M + 1.991%), 08/15/2029 | 4,025,677 | 0.0 | |||||||
| 2,500,000 (1)(3) | ONNI Commerical Mortgage Trust 2024-APT A, 5.753%, 07/15/2039 | 2,560,684 | 0.0 | |||||||
| 10,000,000 (1)(3) | ORL Trust 2023-GLKS A, 7.447%, (TSFR1M + 2.350%), 10/19/2036 | 10,041,346 | 0.1 | |||||||
| 9,998,881 (1)(3) | PFP Ltd. 2023-10 A, 7.448%, (TSFR1M + 2.365%), 09/16/2038 | 10,066,042 | 0.1 | |||||||
| 5,000,000 (1)(3) | PFP Ltd. 2024-11 A, 6.915%, (TSFR1M + 1.832%), 09/17/2039 | 5,023,151 | 0.1 | |||||||
| 13,000,000 (1) | RFM Reremic Trust 2022-FRR1 AB55, 0.990%, 03/28/2049 | 11,714,704 | 0.1 | |||||||
| 14,290,000 (1)(3) | RFM Reremic Trust 2022-FRR1 AB60, 2.390%, 11/08/2049 | 12,906,225 | 0.1 | |||||||
| 19,500,000 (1)(3) | RFM Reremic Trust 2022-FRR1 AB64, 2.239%, 03/01/2050 | 17,501,720 | 0.2 | |||||||
| 5,260,000 (1)(8) | RFM Reremic Trust 2022-FRR1 CK55, 0.000%, 03/28/2049 | 4,655,492 | 0.1 | |||||||
| 6,590,000 (1)(8) | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | 5,470,691 | 0.1 | |||||||
| 2,500,000 (1)(3) | SDR Commercial Mortgage Trust 2024-DSNY B, 6.838%, (TSFR1M + 1.741%), 05/15/2039 | 2,483,834 | 0.0 | |||||||
| 4,525,000 (1)(3) | SHER Trust 2024-DAL A, 6.737%, (TSFR1M + 1.641%), 04/15/2037 | 4,504,858 | 0.1 | |||||||
| 5,000,000 (1)(3) | SHR Trust 2024-LXRY A, 7.050%, (TSFR1M + 1.950%), 10/15/2041 | 5,010,644 | 0.1 | |||||||
| 6,155,000 (1)(3) | SMRT 2022-MINI D, 7.047%, (TSFR1M + 1.950%), 01/15/2039 | 6,052,734 | 0.1 | |||||||
| 5,000,000 (1) | THPT Mortgage Trust 2023-THL A, 7.227%, 12/10/2034 | 5,194,025 | 0.1 | |||||||
| 791,786 (1)(3) | TTAN 2021-MHC D, 6.961%, (TSFR1M + 1.864%), 03/15/2038 | 786,843 | 0.0 | |||||||
| 5,000,000 (1)(3) | TX Trust 2024-HOU A, 6.688%, (TSFR1M + 1.591%), 06/15/2039 | 4,967,140 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | |||||||||||
| 4,174,582 (3) | Wells Fargo Commercial Mortgage Trust 2015-C26 C, 4.071%, 02/15/2048 | $ | 4,102,838 | 0.1 | |||||||
| 7,793,000 | Wells Fargo Commercial Mortgage Trust 2015-C27 A5, 3.451%, 02/15/2048 | 7,734,817 | 0.1 | ||||||||
| 1,330,000 (3) | Wells Fargo Commercial Mortgage Trust 2015-C27 B, 4.139%, 02/15/2048 | 1,258,713 | 0.0 | ||||||||
| 4,000,000 | Wells Fargo Commercial Mortgage Trust 2015-LC20 B, 3.719%, 04/15/2050 | 3,937,831 | 0.0 | ||||||||
| 5,000,000 (3) | Wells Fargo Commercial Mortgage Trust 2016-C35 C, 4.176%, 07/15/2048 | 4,735,848 | 0.1 | ||||||||
| 4,000,000 (3) | Wells Fargo Commercial Mortgage Trust 2017-C41 B, 4.188%, 11/15/2050 | 3,814,305 | 0.0 | ||||||||
| 1,800,000 | Wells Fargo Commercial Mortgage Trust 2017-RC1 C, 4.591%, 01/15/2060 | 1,681,702 | 0.0 | ||||||||
| 5,000,000 | Wells Fargo Commercial Mortgage Trust 2021-C59 C, 3.284%, 04/15/2054 | 3,864,516 | 0.0 | ||||||||
| 5,000,000 | Wells Fargo Commercial Mortgage Trust 2024-5C1 AS, 6.520%, 07/15/2057 | 5,286,648 | 0.1 | ||||||||
| 3,715,396 (1)(3) | WFLD Mortgage Trust 2014-MONT A, 3.880%, 08/10/2031 | 3,374,412 | 0.0 | ||||||||
| 7,097,000 (3) | WFRBS Commercial Mortgage Trust 2014-C21 B, 4.213%, 08/15/2047 | 6,872,557 | 0.1 | ||||||||
| 33,892,456 (3)(6) | WFRBS Commercial Mortgage Trust 2014-C25 XA, 0.827%, 11/15/2047 | 22,544 | 0.0 | ||||||||
| 7,000,000 (1) | WSTN Trust 2023-MAUI A, 6.518%, 07/05/2037 | 7,175,135 | 0.1 | ||||||||
| Total Commercial Mortgage-Backed Securities (Cost $901,910,698) | 916,331,799 | 9.8 | |||||||||
| U.S. TREASURY OBLIGATIONS: 8.8% | |||||||||||
| United States Treasury Bonds: 3.8% | |||||||||||
| 58,000 | 1.250%, 05/15/2050 | 31,052 | 0.0 | ||||||||
| 2,699,000 | 1.375%, 11/15/2040 | 1,832,579 | 0.0 | ||||||||
| 268,000 | 1.625%, 11/15/2050 | 157,691 | 0.0 | ||||||||
| 9,469,100 | 2.875%, 05/15/2052 | 7,418,448 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
121
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| U.S. TREASURY OBLIGATIONS: (continued) | |||||||||||
| United States Treasury Bonds (continued) | |||||||||||
| 14,333,300 | 3.250%, 05/15/2042 | $ | 12,749,638 | 0.1 | |||||||
| 340,005,000 (2) | 4.125%, 08/15/2044 | 337,401,837 | 3.6 | ||||||||
| 359,591,245 | 3.8 | ||||||||||
| United States Treasury Notes: 5.0% | |||||||||||
| 132,000 | 0.625%, 05/15/2030 | 112,120 | 0.0 | ||||||||
| 8,184,600 | 1.250%, 11/30/2026 | 7,784,322 | 0.1 | ||||||||
| 25,131,200 | 1.250%, 09/30/2028 | 22,969,033 | 0.2 | ||||||||
| 3,309,100 | 1.500%, 01/31/2027 | 3,154,309 | 0.0 | ||||||||
| 17,183,400 | 1.500%, 11/30/2028 | 15,811,413 | 0.2 | ||||||||
| 50,000,000 | 2.750%, 05/15/2025 | 49,538,661 | 0.5 | ||||||||
| 4,089,400 | 2.750%, 08/15/2032 | 3,822,311 | 0.0 | ||||||||
| 27,782,600 | 3.375%, 09/30/2029 | 27,701,206 | 0.3 | ||||||||
| 67,084,000 | 3.500%, 09/30/2026 | 66,899,257 | 0.7 | ||||||||
| 7,598,000 | 3.500%, 09/30/2031 | 7,584,347 | 0.1 | ||||||||
| 107,734,500 | 3.625%, 09/15/2027 | 107,191,619 | 1.2 | ||||||||
| 43,788,300 | 3.875%, 08/15/2034 | 44,099,608 | 0.5 | ||||||||
| 102,471,100 | 4.350%, 05/15/2054 | 111,173,138 | 1.2 | ||||||||
| 719,000 | 4.625%, 06/15/2027 | 738,506 | 0.0 | ||||||||
| 468,579,850 | 5.0 | ||||||||||
| Total U.S. Treasury Obligations (Cost $835,043,581) | 828,171,095 | 8.8 | |||||||||
| SOVEREIGN BONDS: 0.8% | |||||||||||
| 4,825,000 | Brazilian Government International Bond, 6.125%, 03/15/2034 | 4,926,325 | 0.1 | ||||||||
| 3,125,000 | Brazilian Government International Bond, 7.125%, 05/13/2054 | 3,249,328 | 0.0 | ||||||||
| 1,000,000 | Colombia Government International Bond, 3.125%, 04/15/2031 | 827,500 | 0.0 | ||||||||
| 350,000 | Colombia Government International Bond, 3.875%, 04/25/2027 | 337,865 | 0.0 | ||||||||
| 4,828,000 | Colombia Government International Bond, 8.000%, 11/14/2035 | 5,153,890 | 0.1 | ||||||||
| 5,250,000 | Colombia Government International Bond, 8.750%, 11/14/2053 | 5,766,495 | 0.1 | ||||||||
| 4,100,000 (1) | Guatemala Government Bond, 6.050%, 08/06/2031 | 4,203,730 | 0.1 | ||||||||
| 2,025,000 (1) | Guatemala Government Bond, 6.550%, 02/06/2037 | 2,104,380 | 0.0 | ||||||||
| 1,200,000 (2) | Panama Government International Bond, 3.298%, 01/19/2033 | 1,004,100 | 0.0 | ||||||||
| 3,600,000 | Panama Government International Bond, 6.875%, 01/31/2036 | 3,791,250 | 0.0 | ||||||||
| 2,760,000 | Panama Government International Bond, 7.500%, 03/01/2031 | 3,024,960 | 0.0 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| 3,610,000 | Panama Government International Bond, 8.000%, 03/01/2038 | $ | 4,080,202 | 0.0 | ||||||
| 8,700,000 | Republic of South Africa Government International Bond, 4.850%, 09/30/2029 | 8,460,750 | 0.1 | |||||||
| 2,800,000 (2) | Republic of South Africa Government International Bond, 5.875%, 04/20/2032 | 2,789,500 | 0.0 | |||||||
| 6,258,000 (1) | Romanian Government International Bond, 5.750%, 03/24/2035 | 6,222,799 | 0.1 | |||||||
| 4,644,000 (1) | Romanian Government International Bond, 6.375%, 01/30/2034 | 4,835,565 | 0.1 | |||||||
| 2,450,000 (1) | Saudi Government International Bond, 3.450%, 02/02/2061 | 1,668,523 | 0.0 | |||||||
| 4,000,000 (1) | Saudi Government International Bond, 5.750%, 01/16/2054 | 4,085,000 | 0.1 | |||||||
| 334,404 (3) | Ukraine Government International Bond (Step Rate @ 3.000% on 02/01/2027), 02/01/2030 | 146,720 | 0.0 | |||||||
| 1,249,625 (3) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2034 | 427,684 | 0.0 | |||||||
| 1,056,019 (3) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2035 | 463,064 | 0.0 | |||||||
| 880,015 (3) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2036 | 382,367 | 0.0 | |||||||
| 1,163,381 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2029 | 685,988 | 0.0 | |||||||
| 2,324,212 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2034 | 1,036,599 | 0.0 | |||||||
| 2,033,233 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2035 | 883,948 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
122
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| SOVEREIGN BONDS: (continued) | |||||||||||
| 601,039 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2036 | $ | 258,417 | 0.0 | |||||||
| Total Sovereign Bonds (Cost $69,808,285) | 70,816,949 | 0.8 | |||||||||
| PURCHASED OPTIONS(9): 0.0% | |||||||||||
| Total Purchased Options (Cost $743,844) | 4,801 | 0.0 | |||||||||
| Total Long-Term Investments (Cost $9,131,074,181) | 9,011,716,623 | 96.3 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| SHORT-TERM INVESTMENTS: 8.5% | |||||||||||
| Time Deposits: 0.2% | |||||||||||
| 3,800,000 (10) | Canadian Imperial Bank of Commerce, 4.810%, 10/01/2024 | 3,800,000 | 0.0 | ||||||||
| 3,810,000 (10) | Landesbank Hessen Thueringen Girozentrale, 4.820%, 10/01/2024 | 3,810,000 | 0.0 | ||||||||
| 3,800,000 (10) | Mizuho Bank Ltd., 4.820%, 10/01/2024 | 3,800,000 | 0.0 | ||||||||
| 3,810,000 (10) | Royal Bank of Canada, 4.830%, 10/01/2024 | 3,810,000 | 0.1 | ||||||||
| 3,830,000 (10) | Skandinaviska Enskilda Banken AB, 4.810%, 10/01/2024 | 3,830,000 | 0.1 | ||||||||
| 3,760,000 (10) | Svenska Handelsbanken AB, 4.810%, 10/01/2024 | 3,760,000 | 0.0 | ||||||||
| Total Time Deposits (Cost $22,810,000) | 22,810,000 | 0.2 | |||||||||
| Commercial Paper: 6.8% | |||||||||||
| 9,500,000 | Agilent Technologies, 5.020%, 10/08/2024 | 9,489,586 | 0.1 | ||||||||
| 25,000,000 | Agilent Technologies, 5.090%, 10/25/2024 | 24,913,455 | 0.3 | ||||||||
| 50,000,000 | AT&T, Inc., 5.050%, 10/15/2024 | 49,896,792 | 0.5 | ||||||||
| 30,000,000 | Autozone, Inc., 4.990%, 10/01/2024 | 29,995,907 | 0.3 | ||||||||
| 30,000,000 | Concord Minutemen Capital Co. LLC, 4.950%, 10/07/2024 | 29,971,650 | 0.3 | ||||||||
| 24,750,000 | CVS Caremark, 4.960%, 10/01/2024 | 24,746,643 | 0.3 | ||||||||
| 33,000,000 | Dominion Energy, Inc., 4.970%, 10/01/2024 | 32,995,515 | 0.4 | ||||||||
| 54,500,000 | Dominion Energy, Inc., 4.980%, 10/02/2024 | 54,485,177 | 0.6 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Commercial Paper (continued) | ||||||||||
| 3,500,000 | Dominion Energy, Inc., 5.060%, 10/21/2024 | $ | 3,489,875 | 0.0 | ||||||
| 1,600,000 | Dominion Energy, Inc., 5.060%, 10/22/2024 | 1,595,152 | 0.0 | |||||||
| 2,000,000 | Dominion Energy, Inc., 5.060%, 10/24/2024 | 1,993,392 | 0.0 | |||||||
| 6,190,000 | Duke Energy Co., 5.000%, 10/03/2024 | 6,187,463 | 0.1 | |||||||
| 25,000,000 | Duke Energy Co., 5.110%, 10/28/2024 | 24,902,717 | 0.3 | |||||||
| 9,200,000 | EBAY, Inc., 4.860%, 01/21/2025 | 9,063,993 | 0.1 | |||||||
| 17,000,000 | EIDP, Inc., 4.960%, 12/12/2024 | 16,833,580 | 0.2 | |||||||
| 2,500,000 | Enbridge (US) Inc., 5.120%, 10/07/2024 | 2,497,555 | 0.0 | |||||||
| 30,000,000 | Entergy Corp., 4.990%, 10/01/2024 | 29,995,914 | 0.3 | |||||||
| 40,000,000 | Entergy Corp., 4.990%, 10/02/2024 | 39,989,098 | 0.4 | |||||||
| 17,000,000 | Entergy Corp., 5.090%, 10/23/2024 | 16,945,848 | 0.2 | |||||||
| 25,000,000 | HP, Inc., 5.010%, 10/04/2024 | 24,986,329 | 0.3 | |||||||
| 5,000,000 | HSBC USA, Inc., 4.930%, 10/04/2024 | 4,997,305 | 0.1 | |||||||
| 55,000,000 | Keurig Dr. Pepper, Inc., 5.000%, 10/01/2024 | 54,992,494 | 0.6 | |||||||
| 14,816,000 | Keurig Dr. Pepper, Inc., 5.000%, 10/03/2024 | 14,809,927 | 0.2 | |||||||
| 13,000,000 | McCormick & Company, Inc., 5.010%, 10/04/2024 | 12,992,891 | 0.1 | |||||||
| 10,000,000 | McCormick & Company, Inc., 5.110%, 11/01/2024 | 9,955,532 | 0.1 | |||||||
| 15,000,000 | McDonald’s Corp., 4.470%, 10/10/2024 | 14,981,700 | 0.2 | |||||||
| 20,000,000 | Parker-Hannifin Corp., 5.060%, 11/13/2024 | 19,879,147 | 0.2 | |||||||
| 25,250,000 | Volkswagen Group, 4.780%, 10/30/2024 | 25,151,525 | 0.3 | |||||||
| 31,400,000 | Volkswagen Group, 5.210%, 10/10/2024 | 31,355,352 | 0.3 | |||||||
| Total Commercial Paper (Cost $624,136,386) | 624,091,514 | 6.8 | ||||||||
See Accompanying Notes to Financial Statements
123
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Repurchase Agreements: 1.4% | ||||||||||
| 7,480,297 (10) | ASL Capital Markets, Inc., Repurchase Agreement dated 09/30/2024, 5.350%, due 10/01/2024 (Repurchase Amount $7,481,393, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.470%-7.000%, Market Value plus accrued interest $7,629,903, due 06/01/28-07/15/59) | $ | 7,480,297 | 0.1 | ||||||
| 34,463,032 (10) | Bethesda Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $34,467,753, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-7.026%, Market Value plus accrued interest $35,152,293, due 10/01/27-01/01/57) | 34,463,032 | 0.4 | |||||||
| 13,122,859 (10) | CF Secured LLC, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $13,124,657, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.070%, Market Value plus accrued interest $13,385,316, due 05/15/27-07/20/73) | 13,122,859 | 0.1 | |||||||
| 2,071,418 (10) | Clear Street LLC, Repurchase Agreement dated 09/30/2024, 5.020%, due 10/01/2024 (Repurchase Amount $2,071,703, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $2,112,649, due 07/31/25-08/01/54) | 2,071,418 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Repurchase Agreements (continued) | ||||||||||
| 36,051,427 (10) | Marex Capital Markets Inc., Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $36,056,366, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.750%-5.500%, Market Value plus accrued interest $36,772,456, due 07/15/28-09/01/54) | $ | 36,051,427 | 0.4 | ||||||
| 11,704,731 (10) | MUFG Securities Americas Inc., Repurchase Agreement dated 09/30/2024, 4.870%, due 10/01/2024 (Repurchase Amount $11,706,293, collateralized by various U.S. Government Agency Obligations, 2.500%-7.000%, Market Value plus accrued interest $11,938,826, due 03/01/42-09/01/53) | 11,704,731 | 0.1 | |||||||
| 24,897,581 (10) | National Bank Financial, Inc., Repurchase Agreement dated 09/30/2024, 4.900%, due 10/01/2024 (Repurchase Amount $24,900,923, collateralized by various U.S. Government Securities, 0.375%-5.000%, Market Value plus accrued interest $25,395,533, due 10/01/24-09/09/49) | 24,897,581 | 0.3 | |||||||
| Total Repurchase Agreements (Cost $129,791,345) | 129,791,345 | 1.4 | ||||||||
See Accompanying Notes to Financial Statements
124
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Shares | Value | Percentage of Net Assets | |||||||||
| Mutual Funds: 0.1% | |||||||||||
| 12,416,000 (11) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $12,416,000) | $ | 12,416,000 | 0.1 | |||||||
| Total Short-Term Investments (Cost $789,153,731) | $ | 789,108,859 | 8.5 | ||||||||
| Total Investments in Securities (Cost $9,920,227,912) | $ | 9,800,825,482 | 104.8 | ||||||||
| Liabilities in Excess of Other Assets | (444,436,215 | ) | (4.8 | ) | |||||||
| Net Assets | $ | 9,356,389,267 | 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) | Security, or a portion of the security, is on loan. |
| (3) | Variable rate security. Rate shown is the rate in effect as of September 30, 2024. |
| (4) | 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. |
| (5) | Represents or includes a TBA transaction. |
| (6) | 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. |
| (7) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (8) | 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. |
| (9) | The tables within the Portfolio of Investments detail open purchased options which are non-income producing securities. |
| (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 September 30, 2024. |
Currency Abbreviations:
| EUR | EU Euro |
Reference Rate Abbreviations:
| 12MTA | 12-month Treasury Average |
| RFUCCT1Y | FTSE USD IBOR Consumer Cash Fallbacks Term 1Y |
| 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 |
| US0001M | 1-month LIBOR |
See Accompanying Notes to Financial Statements
125
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant | Fair Value at September 30, 2024 | |||||||||
| Asset Table | ||||||||||||
| Investments, at fair value | ||||||||||||
| Corporate Bonds/Notes | $ | — | $ | 2,735,590,010 | $ | — | $ | 2,735,590,010 | ||||
| U.S. Government Agency Obligations | — | 1,944,789,154 | — | 1,944,789,154 | ||||||||
| Collateralized Mortgage Obligations | — | 1,405,239,322 | — | 1,405,239,322 | ||||||||
| Asset-Backed Securities | — | 1,110,773,493 | — | 1,110,773,493 | ||||||||
| Commercial Mortgage-Backed Securities | — | 916,331,799 | — | 916,331,799 | ||||||||
| U.S. Treasury Obligations | — | 828,171,095 | — | 828,171,095 | ||||||||
| Sovereign Bonds | — | 70,816,949 | — | 70,816,949 | ||||||||
| Purchased Options | — | 4,801 | — | 4,801 | ||||||||
| Short-Term Investments | 12,416,000 | 776,692,859 | — | 789,108,859 | ||||||||
| Total Investments, at fair value | $ | 12,416,000 | $ | 9,788,409,482 | $ | — | $ | 9,800,825,482 | ||||
| Other Financial Instruments+ | ||||||||||||
| Centrally Cleared Interest Rate Swaps | — | 218,695 | — | 218,695 | ||||||||
| Forward Premium Swaptions | — | 6,361,686 | — | 6,361,686 | ||||||||
| Futures | 4,791 | — | — | 4,791 | ||||||||
| Total Assets | $ | 12,420,791 | $ | 9,794,989,863 | $ | — | $ | 9,807,410,654 | ||||
| Liabilities Table | ||||||||||||
| Other Financial Instruments+ | ||||||||||||
| Centrally Cleared Interest Rate Swaps | $ | — | $ | (13,237,279) | $ | — | $ | (13,237,279) | ||||
| Forward Premium Swaptions | — | (193,956) | — | (193,956) | ||||||||
| Futures | (8,717,684) | — | — | (8,717,684) | ||||||||
| OTC volatility swaps | — | (634,953) | — | (634,953) | ||||||||
| Written Options | — | (447,217) | — | (447,217) | ||||||||
| Total Liabilities | $ | (8,717,684) | $ | (14,513,405) | $ | — | $ | (23,231,089) | ||||
| ^ | 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. |
At September 30, 2024, the following futures contracts were outstanding for Voya Intermediate Bond Fund:
| Description | Number of Contracts | Expiration Date | Notional Amount | Unrealized Appreciation/ (Depreciation) | ||||||||
| Long Contracts: | ||||||||||||
| U.S. Treasury 2-Year Note | 5,846 | 12/31/24 | $ | 1,217,383,828 | $ | (836,084) | ||||||
| U.S. Treasury 10-Year Note | 2,343 | 12/19/24 | 267,760,969 | (279,022) | ||||||||
| U.S. Treasury Long Bond | 2,982 | 12/19/24 | 370,327,125 | (2,975,371) | ||||||||
| U.S. Treasury Ultra Long Bond | 3,845 | 12/19/24 | 511,745,469 | (4,490,091) | ||||||||
| $ | 2,367,217,391 | $ | (8,580,568) | |||||||||
| Short Contracts: | ||||||||||||
| U.S. Treasury 5-Year Note | (1,713 | ) | 12/31/24 | (188,229,258) | (137,116) | |||||||
| U.S. Treasury Ultra 10-Year Note | (736 | ) | 12/19/24 | (87,066,500) | 4,791 | |||||||
| $ | (275,295,758) | $ | (132,325) | |||||||||
At September 30, 2024, the following centrally cleared interest rate swaps were outstanding for Voya Intermediate Bond Fund:
See Accompanying Notes to Financial Statements
126
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
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 Secured Overnight Financing Rate | Annual | 3.208% | Annual | 09/10/29 | USD | 50,529,000 | $ | (142,898 | ) | $ | (142,898 | ) | |||||||||
| Receive | 28-day MXN TIIE-BANXICO | Monthly | 8.700 | Monthly | 09/20/34 | MXN | 281,132,000 | — | — | |||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.243 | Annual | 10/07/29 | USD | 14,927,000 | — | — | |||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.184 | Annual | 10/07/29 | USD | 19,903,000 | 71,248 | 71,248 | |||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.256 | Annual | 10/07/29 | USD | 24,879,000 | — | — | |||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.206 | Annual | 09/10/29 | USD | 50,529,000 | 147,447 | 147,447 | |||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.526 | Annual | 06/18/26 | USD | 445,999,600 | (7,284,748 | ) | (7,284,748 | ) | |||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.241 | Annual | 07/22/26 | USD | 454,812,000 | (5,809,633 | ) | (5,809,633 | ) | |||||||||||
| $ | (13,018,584 | ) | $ | (13,018,584 | ) | |||||||||||||||||
At September 30, 2024, the following OTC volatility swaps were outstanding for Voya Intermediate Bond Fund:
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 | 5.555% | BNP Paribas | 10/10/24 | USD | 118,000 | $ | (196,085 | ) | $ | (196,085 | ) | ||||||||
| Receive | EUR vs. USD Spot Exchange Rate | 6.550% | Deutsche Bank AG | 02/03/25 | USD | 227,400 | (37,654 | ) | (37,654 | ) | ||||||||||
| Receive | USD vs. CAD Spot Exchange Rate | 5.555% | Standard Chartered Bank | 10/10/24 | USD | 118,000 | (196,085 | ) | (196,085 | ) | ||||||||||
| Receive | USD vs. CAD Spot Exchange Rate | 5.200% | UBS AG | 10/03/24 | USD | 178,000 | (205,129 | ) | (205,129 | ) | ||||||||||
| $ | (634,953 | ) | $ | (634,953 | ) | |||||||||||||||
At September 30, 2024, the following OTC purchased interest rate swaptions were outstanding for Voya Intermediate Bond Fund:
| Description | Counterparty | Pay/ Receive Exercise Rate | Exercise Rate | Floating Rate Index | Expiration Date | Notional Amount | Cost | Fair Value | ||||||||||||
| Put on 2-Year Interest Rate Swap(1) | Goldman Sachs International | Pay | 3.100% | 6-month EUR-EURIBOR | 12/20/24 | EUR 234,738,000 | $ | 743,844 | $ | 4,801 | ||||||||||
| $ | 743,844 | $ | 4,801 | |||||||||||||||||
At September 30, 2024, the following OTC written interest rate swaptions were outstanding for Voya Intermediate Bond Fund:
| Description | Counterparty | Pay/Receive Exercise Rate | Exercise Rate | Floating Rate Index | Expiration Date | Notional Amount | Premiums Received | Fair Value | ||||||||||||||
| Call on 5-Year Interest | 1-day Secured Overnight | |||||||||||||||||||||
| Rate Swap(1) | UBS AG | Pay | 3.185% | Financing Rate | 10/03/24 | USD | 99,516,000 | $ | 303,524 | $ | (46,183 | ) | ||||||||||
| Put on 2-Year Interest | Goldman Sachs | |||||||||||||||||||||
| Rate Swap(2) | International | Receive | 3.280% | 6-month EUR-EURIBOR | 12/20/24 | EUR | 234,738,000 | 462,389 | (1,876 | ) | ||||||||||||
| Put on 2-Year Interest | Goldman Sachs | |||||||||||||||||||||
| Rate Swap(2) | International | Receive | 3.453% | 6-month EUR-EURIBOR | 12/20/24 | EUR | 234,738,000 | 281,454 | (798 | ) | ||||||||||||
| Put on 5-Year Interest | 1-day Secured Overnight | |||||||||||||||||||||
| Rate Swap(2) | UBS AG | Receive | 3.185% | Financing Rate | 10/03/24 | USD | 99,516,000 | 303,524 | (398,360 | ) | ||||||||||||
| $ | 1,350,891 | $ | (447,217 | ) | ||||||||||||||||||
At September 30, 2024, the following OTC purchased forward premium swaptions were outstanding for Voya Intermediate Bond Fund:
| 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 10-Year Interest | JPMorgan Chase | 1-day Secured Overnight | ||||||||||||||||||||
| Rate Swap | Bank N.A. | 2.375% | Receive | Financing Rate | 08/14/34 | USD | 45,840,320 | $ | (1,925,294 | ) | $ | (62,712 | ) | |||||||||
| Call on 30-Year Interest | 1-day Secured Overnight | |||||||||||||||||||||
| Rate Swap | Barclays Bank PLC | 17.500% | Receive | Financing Rate | 06/14/27 | USD | 39,935,000 | (6,988,625 | ) | 1,512,367 | ||||||||||||
| Call on 30-Year Interest | 1-day Secured Overnight | |||||||||||||||||||||
| Rate Swap | Barclays Bank PLC | 17.700% | Receive | Financing Rate | 05/28/27 | USD | 66,490,400 | (11,768,801 | ) | 2,427,692 | ||||||||||||
| Put on 30-Year Interest | 1-day Secured Overnight | |||||||||||||||||||||
| Rate Swap | Barclays Bank PLC | 18.000% | Pay | Financing Rate | 05/25/27 | USD | 61,700,000 | (11,106,000 | ) | 2,087,331 | ||||||||||||
| Put on 5-Year Interest | JPMorgan Chase | 1-day Secured Overnight | ||||||||||||||||||||
| Rate Swap | Bank N.A. | 3.600% | Pay | Financing Rate | 09/18/29 | USD | 99,516,000 | (3,198,444 | ) | 197,773 | ||||||||||||
| $ | (34,987,164 | ) | $ | 6,162,451 | ||||||||||||||||||
See Accompanying Notes to Financial Statements
127
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
At September 30, 2024, the following OTC written forward premium swaptions were outstanding for Voya Intermediate Bond Fund:
| 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 1-Year Interest Rate Swap | Bank of America N.A. | 3.140% | Pay | 1-day Secured Overnight Financing Rate | 09/19/28 | USD | 248,789,000 | $ | 1,942,109 | $ | 78,552 | |||||||||||
| Put on 10-Year Interest Rate Swap | Bank N.A. | 5.540% | Receive | 1-day Secured Overnight Financing Rate | 08/14/34 | USD | 45,840,320 | 1,925,294 | (53,587 | ) | ||||||||||||
| Put on 1-Year Interest Rate Swap | Bank of America N.A. | 3.140% | Receive | 1-day Secured Overnight Financing Rate | 09/19/28 | USD | 248,789,000 | 1,942,109 | (77,657 | ) | ||||||||||||
| Put on 5-Year Interest Rate Swap | UBS AG | 2.650% | Receive | 6-month EUR-EURIBOR | 09/18/29 | EUR | 99,516,000 | 3,235,779 | 57,971 | |||||||||||||
| $ | 9,045,291 | $ | 5,279 | |||||||||||||||||||
| (1) | Fund pays the exercise rate semi-annually and receives the floating rate index quarterly. |
| (2) | Fund 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. |
Currency Abbreviations:
| CAD | — | Canadian Dollar |
| EUR | — | EU Euro |
| MXN | — | Mexican Peso |
| 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 September 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||
| Asset Derivatives | ||||||
| Interest rate contracts | Investments in securities at value* | $ | 4,801 | |||
| Interest rate contracts | Unrealized appreciation on forward premium swaptions | 6,361,686 | ||||
| Interest rate contracts | Variation margin receivable on futures contracts** | 4,791 | ||||
| Interest rate contracts | Variation margin receivable on centrally cleared swaps** | 218,695 | ||||
| Total Asset Derivatives | $ | 6,589,973 | ||||
| Liability Derivatives | ||||||
| Interest rate contracts | Unrealized depreciation on forward premium swaptions | $ | 193,956 | |||
| Interest rate contracts | Variation margin payable on futures contracts** | 8,717,684 | ||||
| Interest rate contracts | Variation margin payable on centrally cleared swaps** | 13,237,279 | ||||
| Foreign exchange contracts | Unrealized depreciation on OTC swap agreements | 634,953 | ||||
| Interest rate contracts | Written options, at fair value | 447,217 | ||||
| Total Liability Derivatives | $ | 23,231,089 | ||||
| * | 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
128
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 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 | $ | — | $ | — | $ | — | $ | 3,694,523 | $ | — | $ | 3,694,523 | |||||||||||
| Equity contracts | — | — | 2,172,676 | — | — | 2,172,676 | |||||||||||||||||
| Foreign exchange contracts | (942,676) | (13,962) | — | (1,220,235) | — | (2,176,873) | |||||||||||||||||
| Interest rate contracts | (2,934,928) | — | 44,983,489 | (520,599) | 2,536,039 | 44,064,001 | |||||||||||||||||
| Total | $ | (3,877,604) | $ | (13,962) | $ | 47,156,165 | $ | 1,953,689 | $ | 2,536,039 | $ | 47,754,327 | |||||||||||
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 | $ | 933,706 | $ | (5,206) | $ | — | $ | (520,968) | $ | — | $ | 407,532 | |||||||||||
| Interest rate contracts | 5,904,854 | — | (14,395,900) | (13,049,274) | (1,055,231) | (22,595,551) | |||||||||||||||||
| Total | $ | 6,838,560 | $ | (5,206) | $ | (14,395,900) | $ | (13,570,242) | $ | (1,055,231) | $ | (22,188,019) | |||||||||||
| * | 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 September 30, 2024:
Bank of America N.A. | Barclays Bank PLC | BNP Paribas | Deutsche Bank AG | Goldman Sachs International | JPMorgan Chase Bank N.A. | Standard Chartered Bank | UBS AG | Total | ||||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||||||||
| Purchased options | $ | — | $ | — | $ | — | $ | — | $ | 4,801 | $ | — | $ | — | $ | — | $ | 4,801 | ||||||||||||||
| Forward premium swaptions | 78,552 | 6,027,390 | — | — | — | 197,773 | — | 57,971 | 6,361,686 | |||||||||||||||||||||||
| Total Assets | $ | 78,552 | $ | 6,027,390 | $ | — | $ | — | $ | 4,801 | $ | 197,773 | $ | — | $ | 57,971 | $ | 6,366,487 | ||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Forward premium swaptions | $ | 77,657 | $ | — | $ | — | $ | — | $ | — | $ | 116,299 | $ | — | $ | — | $ | 193,956 | ||||||||||||||
| Volatility Swaps | — | — | 196,085 | 37,654 | — | — | 196,085 | 205,129 | 634,953 | |||||||||||||||||||||||
| Written options | — | — | — | — | 2,674 | — | — | 444,543 | 447,217 | |||||||||||||||||||||||
| Total Liabilities | $ | 77,657 | $ | — | $ | 196,085 | $ | 37,654 | $ | 2,674 | $ | 116,299 | $ | 196,085 | $ | 649,672 | $ | 1,276,126 | ||||||||||||||
| Net OTC derivative instruments by counterparty, at fair value | $ | 895 | $ | 6,027,390 | $ | (196,085 | ) | $ | (37,654 | ) | $ | 2,127 | $ | 81,474 | $ | (196,085 | ) | $ | (591,701 | ) | $ | 5,090,361 | ||||||||||
| Total collateral pledged by the Fund/(Received from counterparty) | $ | — | $ | (5,940,000 | ) | $ | 196,085 | $ | — | $ | — | $ | — | $ | 188,800 | $ | 591,701 | $ | (4,963,414) | |||||||||||||
| Net Exposure(1),(2) | $ | 895 | $ | 87,390 | $ | — | $ | (37,654 | ) | $ | 2,127 | $ | 81,474 | $ | (7,285 | ) | $ | — | $ | 126,947 | ||||||||||||
| (1) | Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features. |
| (2) | At September 30, 2024, the Fund had pledged $270,000 and $810,000 in cash collateral to BNP Paribas and UBS AG, respectively. Excess cash collateral is not shown for financial reporting purposes. |
See Accompanying Notes to Financial Statements
129
| Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
At September 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 $9,969,764,309. | ||||
| Net unrealized depreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 140,230,452 | ||
| Gross Unrealized Depreciation | (325,815,892 | ) | ||
| Net Unrealized Depreciation | $ | (185,585,440 | ) | |
See Accompanying Notes to Financial Statements
130
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: 41.0% | ||||||||||
| Basic Materials: 1.7% | ||||||||||
| 389,000 | Albemarle Corp., 4.650%, 06/01/2027 | $ | 391,007 | 0.1 | ||||||
| 656,000 | BHP Billiton Finance USA Ltd., 5.250%, 09/08/2026 | 670,789 | 0.1 | |||||||
| 1,200,000 (1) | Cleveland-Cliffs, Inc., 5.875%, 06/01/2027 | 1,203,787 | 0.2 | |||||||
| 513,000 | Eastman Chemical Co., 5.000%, 08/01/2029 | 525,485 | 0.1 | |||||||
| 641,000 (1) | Ecolab, Inc., 1.650%, 02/01/2027 | 609,519 | 0.1 | |||||||
| 417,000 | EIDP, Inc., 4.500%, 05/15/2026 | 419,763 | 0.1 | |||||||
| 666,000 | Freeport-McMoRan, Inc., 4.550%, 11/14/2024 | 666,147 | 0.1 | |||||||
| 827,000 (2) | Georgia-Pacific LLC, 1.750%, 09/30/2025 | 806,697 | 0.1 | |||||||
| 1,200,000 (2) | Hudbay Minerals, Inc., 4.500%, 04/01/2026 | 1,187,991 | 0.2 | |||||||
| 1,200,000 (2) | Mativ Holdings, Inc., 6.875%, 10/01/2026 | 1,200,210 | 0.2 | |||||||
| 1,200,000 (2) | Novelis Corp., 3.250%, 11/15/2026 | 1,159,042 | 0.2 | |||||||
| 252,000 | Nucor Corp., 2.000%, 06/01/2025 | 247,837 | 0.0 | |||||||
| 65,000 | Nutrien Ltd., 4.900%, 03/27/2028 | 66,322 | 0.0 | |||||||
| 1,098,000 | Nutrien Ltd., 5.950%, 11/07/2025 | 1,115,493 | 0.2 | |||||||
| 10,270,089 | 1.7 | |||||||||
| Communications: 2.2% | ||||||||||
| 513,000 | AT&T, Inc., 1.700%, 03/25/2026 | 494,025 | 0.1 | |||||||
| 1,200,000 (2) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 1,198,556 | 0.2 | |||||||
| 529,000 | Comcast Corp., 4.550%, 01/15/2029 | 538,392 | 0.1 | |||||||
| 1,300,000 (2) | Connect Finco Sarl / Connect US Finco LLC, 6.750%, 10/01/2026 | 1,300,000 | 0.2 | |||||||
| 444,000 | Fox Corp., 3.050%, 04/07/2025 | 439,741 | 0.1 | |||||||
| 710,000 | Meta Platforms, Inc., 4.300%, 08/15/2029 | 721,113 | 0.1 | |||||||
| 1,497,000 (2) | NBN Co. Ltd., 1.450%, 05/05/2026 | 1,433,030 | 0.2 | |||||||
| 349,000 (1)(2) | NBN Co. Ltd., 5.750%, 10/06/2028 | 368,375 | 0.1 | |||||||
| 700,000 | Rogers Communications, Inc., 5.000%, 02/15/2029 | 714,554 | 0.1 | |||||||
| 1,200,000 (1)(2) | Sirius XM Radio, Inc., 3.125%, 09/01/2026 | 1,160,321 | 0.2 | |||||||
| 1,147,000 | Sprint Capital Corp., 6.875%, 11/15/2028 | 1,253,214 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Communications: (continued) | ||||||||||
| 596,000 | T-Mobile USA, Inc., 2.050%, 02/15/2028 | $ | 555,331 | 0.1 | ||||||
| 429,000 | T-Mobile USA, Inc., 2.250%, 02/15/2026 | 417,428 | 0.1 | |||||||
| 283,000 | T-Mobile USA, Inc., 2.625%, 04/15/2026 | 276,014 | 0.0 | |||||||
| 291,000 | T-Mobile USA, Inc., 4.950%, 03/15/2028 | 297,730 | 0.0 | |||||||
| 395,000 | Uber Technologies, Inc., 4.300%, 01/15/2030 | 393,871 | 0.1 | |||||||
| 1,200,000 (1)(2) | Univision Communications, Inc., 6.625%, 06/01/2027 | 1,204,715 | 0.2 | |||||||
| 649,000 | Verizon Communications, Inc., 0.850%, 11/20/2025 | 623,801 | 0.1 | |||||||
| 13,390,211 | 2.2 | |||||||||
| Consumer, Cyclical: 4.8% | ||||||||||
| 361,000 (2) | 7-Eleven, Inc., 0.950%, 02/10/2026 | 344,653 | 0.1 | |||||||
| 1,300,000 (1)(2) | Adient Global Holdings Ltd., 4.875%, 08/15/2026 | 1,288,828 | 0.2 | |||||||
| 16,724 | American Airlines Pass Through Trust 2016-1, AA, 3.575%, 07/15/2029 | 16,150 | 0.0 | |||||||
| 225,000 | American Honda Finance Corp., GMTN, 4.400%, 10/05/2026 | 226,551 | 0.0 | |||||||
| 195,000 | American Honda Finance Corp., MTN, 1.300%, 09/09/2026 | 185,045 | 0.0 | |||||||
| 656,000 (1)(2) | BMW US Capital LLC, 1.250%, 08/12/2026 | 622,606 | 0.1 | |||||||
| 325,000 | BorgWarner, Inc., 4.950%, 08/15/2029 | 330,595 | 0.1 | |||||||
| 1,035,000 (2) | Daimler Truck Finance North America LLC, 3.500%, 04/07/2025 | 1,028,187 | 0.2 | |||||||
| 410,000 (2) | Daimler Truck Finance North America LLC, 5.000%, 01/15/2027 | 416,279 | 0.1 | |||||||
| 26,181 | Delta Air Lines Pass Through Trust 20-1, A, 2.500%, 12/10/2029 | 24,685 | 0.0 | |||||||
| 625,000 | Delta Air Lines, Inc., 2.900%, 10/28/2024 | 623,332 | 0.1 | |||||||
| 245,000 (2) | Denso Corp., 4.420%, 09/11/2029 | 247,869 | 0.0 | |||||||
| 380,000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 370,208 | 0.1 | |||||||
| 300,000 | Ford Motor Credit Co. LLC, 5.800%, 03/08/2029 | 305,046 | 0.0 | |||||||
| 500,000 | Ford Motor Credit Co. LLC, GMTN, 4.389%, 01/08/2026 | 495,849 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
131
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 410,000 | General Motors Financial Co., Inc., 3.800%, 04/07/2025 | $ | 407,106 | 0.1 | ||||||
| 586,000 | General Motors Financial Co., Inc., 5.250%, 03/01/2026 | 590,108 | 0.1 | |||||||
| 235,000 | General Motors Financial Co., Inc., 5.350%, 07/15/2027 | 240,479 | 0.0 | |||||||
| 415,000 | General Motors Financial Co., Inc., 5.400%, 04/06/2026 | 420,198 | 0.1 | |||||||
| 300,000 | General Motors Financial Co., Inc., 5.550%, 07/15/2029 | 309,479 | 0.1 | |||||||
| 565,000 (2) | Hilton Domestic Operating Co., Inc., 5.375%, 05/01/2025 | 564,669 | 0.1 | |||||||
| 565,000 | Home Depot, Inc., 4.875%, 06/25/2027 | 579,788 | 0.1 | |||||||
| 874,000 | Honda Motor Co. Ltd., 2.534%, 03/10/2027 | 844,297 | 0.1 | |||||||
| 561,000 (2) | Hyundai Capital America, 1.300%, 01/08/2026 | 538,993 | 0.1 | |||||||
| 264,000 (2) | Hyundai Capital America, 5.650%, 06/26/2026 | 269,447 | 0.0 | |||||||
| 262,000 (2) | Hyundai Capital America, 5.950%, 09/21/2026 | 269,703 | 0.0 | |||||||
| 493,000 (2) | Hyundai Capital America, 6.250%, 11/03/2025 | 502,259 | 0.1 | |||||||
| 1,300,000 (1)(2) | International Game Technology PLC, 4.125%, 04/15/2026 | 1,283,876 | 0.2 | |||||||
| 252,000 | Lowe’s Cos., Inc., 3.350%, 04/01/2027 | 247,475 | 0.0 | |||||||
| 999,000 (2) | Mattel, Inc., 3.375%, 04/01/2026 | 977,482 | 0.2 | |||||||
| 493,000 (2) | Mercedes-Benz Finance North America LLC, 5.100%, 08/03/2028 | 506,933 | 0.1 | |||||||
| 655,000 | MGM Resorts International, 4.625%, 09/01/2026 | 651,347 | 0.1 | |||||||
| 545,000 (1) | MGM Resorts International, 5.500%, 04/15/2027 | 547,264 | 0.1 | |||||||
| 133,341 (2) | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd., 6.500%, 06/20/2027 | 135,099 | 0.0 | |||||||
| 1,200,000 (2) | NCL Corp. Ltd., 5.875%, 02/15/2027 | 1,205,056 | 0.2 | |||||||
| 235,000 | PACCAR Financial Corp., 4.000%, 09/26/2029 | 234,486 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 1,112,000 | Ross Stores, Inc., 4.600%, 04/15/2025 | $ | 1,110,361 | 0.2 | ||||||
| 1,200,000 (2) | Royal Caribbean Cruises Ltd., 4.250%, 07/01/2026 | 1,187,305 | 0.2 | |||||||
| 840,000 | Toll Brothers Finance Corp., 4.350%, 02/15/2028 | 835,883 | 0.1 | |||||||
| 718,000 | Toyota Motor Credit Corp., 5.400%, 11/20/2026 | 738,879 | 0.1 | |||||||
| 702,000 | Toyota Motor Credit Corp. B, 5.000%, 03/19/2027 | 719,607 | 0.1 | |||||||
| 36,715 | United Airlines Pass Through Trust 20-1, A, 5.875%, 04/15/2029 | 37,505 | 0.0 | |||||||
| 1,200,000 (2) | United Airlines, Inc., 4.375%, 04/15/2026 | 1,181,686 | 0.2 | |||||||
| 50,415 | US Airways Pass Through Trust 2012-1, A, 5.900%, 04/01/2026 | 50,416 | 0.0 | |||||||
| 425,000 (2) | Volkswagen Group of America Finance LLC, 4.950%, 08/15/2029 | 425,631 | 0.1 | |||||||
| 535,000 (2) | Volkswagen Group of America Finance LLC, 5.300%, 03/22/2027 | 544,926 | 0.1 | |||||||
| 500,000 (2) | Volkswagen Group of America Finance LLC, 5.650%, 09/12/2028 | 518,282 | 0.1 | |||||||
| 385,000 (2) | Volkswagen Group of America Finance LLC, 6.450%, 11/16/2030 | 412,744 | 0.1 | |||||||
| 625,000 | Walgreens Boots Alliance, Inc., 3.800%, 11/18/2024 | 623,925 | 0.1 | |||||||
| 864,000 | Warnermedia Holdings, Inc., 3.755%, 03/15/2027 | 835,620 | 0.1 | |||||||
| 1,200,000 (2) | William Carter Co., 5.625%, 03/15/2027 | 1,198,625 | 0.2 | |||||||
| 1,250,000 (2) | ZF North America Capital, Inc., 4.750%, 04/29/2025 | 1,240,037 | 0.2 | |||||||
| 29,512,859 | 4.8 | |||||||||
| Consumer, Non-cyclical: 5.4% | ||||||||||
| 1,088,000 | AbbVie, Inc., 3.200%, 05/14/2026 | 1,074,450 | 0.2 | |||||||
| 456,000 | AbbVie, Inc., 4.800%, 03/15/2027 | 464,908 | 0.1 | |||||||
| 651,000 | AbbVie, Inc., 4.800%, 03/15/2029 | 670,162 | 0.1 | |||||||
| 680,000 (2) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.250%, 03/15/2026 | 658,150 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
132
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 520,000 (2) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 4.625%, 01/15/2027 | $ | 507,206 | 0.1 | ||||||
| 618,000 | Amgen, Inc., 5.150%, 03/02/2028 | 636,544 | 0.1 | |||||||
| 1,044,000 | Amgen, Inc., 5.250%, 03/02/2025 | 1,045,618 | 0.2 | |||||||
| 930,000 | Astrazeneca Finance LLC, 4.800%, 02/26/2027 | 948,305 | 0.2 | |||||||
| 695,000 | Becton Dickinson & Co., 4.693%, 02/13/2028 | 704,183 | 0.1 | |||||||
| 403,000 | Boston Scientific Corp., 1.900%, 06/01/2025 | 395,656 | 0.1 | |||||||
| 311,000 | Bristol-Myers Squibb Co., 4.900%, 02/22/2029 | 321,559 | 0.1 | |||||||
| 760,000 | Bunge Ltd. Finance Corp., 1.630%, 08/17/2025 | 740,355 | 0.1 | |||||||
| 270,000 | Cardinal Health, Inc., 5.125%, 02/15/2029 | 277,810 | 0.0 | |||||||
| 263,000 (2) | Cargill, Inc., 3.625%, 04/22/2027 | 260,096 | 0.0 | |||||||
| 370,000 | Cigna Group, 1.250%, 03/15/2026 | 354,058 | 0.1 | |||||||
| 517,000 | Cigna Group, 5.000%, 05/15/2029 | 532,640 | 0.1 | |||||||
| 314,000 (2) | CSL Finance PLC, 3.850%, 04/27/2027 | 310,481 | 0.0 | |||||||
| 1,247,000 | CVS Health Corp., 3.875%, 07/20/2025 | 1,238,305 | 0.2 | |||||||
| 990,000 (1) | CVS Health Corp., 5.400%, 06/01/2029 | 1,027,282 | 0.2 | |||||||
| 629,000 (2) | Element Fleet Management Corp., 3.850%, 06/15/2025 | 623,194 | 0.1 | |||||||
| 398,000 (2) | Element Fleet Management Corp., 5.643%, 03/13/2027 | 408,229 | 0.1 | |||||||
| 315,000 | Equifax, Inc., 2.600%, 12/15/2025 | 308,019 | 0.0 | |||||||
| 486,000 (2) | ERAC USA Finance LLC, 5.000%, 02/15/2029 | 501,104 | 0.1 | |||||||
| 1,200,000 (1)(2) | Garda World Security Corp., 4.625%, 02/15/2027 | 1,179,286 | 0.2 | |||||||
| 933,000 | GE HealthCare Technologies, Inc., 5.600%, 11/15/2025 | 943,295 | 0.2 | |||||||
| 920,000 | Global Payments, Inc., 1.200%, 03/01/2026 | 879,571 | 0.1 | |||||||
| 1,100,000 (2) | Graham Holdings Co., 5.750%, 06/01/2026 | 1,100,631 | 0.2 | |||||||
| 999,000 | HCA, Inc., 5.875%, 02/15/2026 | 1,009,716 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 600,000 (2) | Health Care Service Corp. A Mutual Legal Reserve Co., 1.500%, 06/01/2025 | $ | 587,269 | 0.1 | ||||||
| 1,348,000 | Humana, Inc., 5.750%, 03/01/2028 | 1,406,183 | 0.2 | |||||||
| 600,000 (2) | IQVIA, Inc., 5.000%, 10/15/2026 | 598,868 | 0.1 | |||||||
| 118,000 | Keurig Dr Pepper, Inc., 5.050%, 03/15/2029 | 121,823 | 0.0 | |||||||
| 710,000 | Kroger Co., 4.600%, 08/15/2027 | 716,235 | 0.1 | |||||||
| 285,000 | Laboratory Corp. of America Holdings, 4.350%, 04/01/2030 | 282,619 | 0.0 | |||||||
| 180,000 | McKesson Corp., 4.250%, 09/15/2029 | 180,514 | 0.0 | |||||||
| 185,000 | Mondelez International, Inc., 4.750%, 02/20/2029 | 189,190 | 0.0 | |||||||
| 355,000 | Novartis Capital Corp., 3.800%, 09/18/2029 | 352,795 | 0.1 | |||||||
| 1,300,000 | Perrigo Finance Unlimited Co., 4.375%, 03/15/2026 | 1,299,358 | 0.2 | |||||||
| 267,000 | Philip Morris International, Inc., 4.875%, 02/13/2029 | 273,831 | 0.0 | |||||||
| 89,000 (2) | Prime Security Services Borrower LLC / Prime Finance, Inc., 5.750%, 04/15/2026 | 89,480 | 0.0 | |||||||
| 325,000 | Quanta Services, Inc., 4.750%, 08/09/2027 | 328,534 | 0.1 | |||||||
| 355,000 | Quest Diagnostics, Inc., 4.600%, 12/15/2027 | 359,830 | 0.1 | |||||||
| 726,000 (2) | Roche Holdings, Inc., 5.338%, 11/13/2028 | 760,521 | 0.1 | |||||||
| 1,361,000 | Royalty Pharma PLC, 1.200%, 09/02/2025 | 1,318,637 | 0.2 | |||||||
| 748,000 | S&P Global, Inc., 2.450%, 03/01/2027 | 721,626 | 0.1 | |||||||
| 1,151,000 | S&P Global, Inc., 2.700%, 03/01/2029 | 1,086,597 | 0.2 | |||||||
| 705,000 | Smith & Nephew PLC, 5.150%, 03/20/2027 | 718,025 | 0.1 | |||||||
| 695,000 (2) | Solventum Corp., 5.450%, 02/25/2027 | 709,445 | 0.1 | |||||||
| 256,000 | Stryker Corp., 3.650%, 03/07/2028 | 252,415 | 0.0 | |||||||
| 625,000 | Tenet Healthcare Corp., 6.250%, 02/01/2027 | 626,365 | 0.1 | |||||||
| 201,000 | Tyson Foods, Inc., 5.400%, 03/15/2029 | 208,792 | 0.0 | |||||||
| 498,000 | UnitedHealth Group, Inc., 2.950%, 10/15/2027 | 484,862 | 0.1 | |||||||
| 295,000 | UnitedHealth Group, Inc., 4.800%, 01/15/2030 | 304,015 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
133
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 522,000 | Zoetis, Inc., 5.400%, 11/14/2025 | $ | 527,083 | 0.1 | ||||||
| 33,625,725 | 5.4 | |||||||||
| Energy: 2.4% | ||||||||||
| 1,200,000 (2) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.750%, 03/01/2027 | 1,202,012 | 0.2 | |||||||
| 516,000 | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor, Inc., 2.061%, 12/15/2026 | 494,865 | 0.1 | |||||||
| 748,000 | Canadian Natural Resources Ltd., 2.050%, 07/15/2025 | 732,041 | 0.1 | |||||||
| 550,000 (2) | Chord Energy Corp., 6.375%, 06/01/2026 | 551,659 | 0.1 | |||||||
| 488,000 | Diamondback Energy, Inc., 5.150%, 01/30/2030 | 500,872 | 0.1 | |||||||
| 488,000 | Diamondback Energy, Inc., 5.200%, 04/18/2027 | 498,166 | 0.1 | |||||||
| 600,000 (2) | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 | 618,261 | 0.1 | |||||||
| 625,000 | EnLink Midstream Partners L.P., 4.150%, 06/01/2025 | 619,865 | 0.1 | |||||||
| 243,000 | Equinor ASA, 2.875%, 04/06/2025 | 240,777 | 0.0 | |||||||
| 1,200,000 (2) | Hess Midstream Operations L.P., 5.625%, 02/15/2026 | 1,201,034 | 0.2 | |||||||
| 590,000 | Kinder Morgan, Inc., 1.750%, 11/15/2026 | 560,902 | 0.1 | |||||||
| 916,000 | Occidental Petroleum Corp., 3.500%, 06/15/2025 | 906,607 | 0.1 | |||||||
| 331,000 | Occidental Petroleum Corp., 5.200%, 08/01/2029 | 336,742 | 0.1 | |||||||
| 1,252,000 | ONEOK, Inc., 5.850%, 01/15/2026 | 1,271,611 | 0.2 | |||||||
| 385,000 | Ovintiv Exploration, Inc., 5.375%, 01/01/2026 | 387,666 | 0.1 | |||||||
| 600,000 (2) | Permian Resources Operating LLC, 5.375%, 01/15/2026 | 599,466 | 0.1 | |||||||
| 551,000 | Phillips 66, 3.850%, 04/09/2025 | 548,250 | 0.1 | |||||||
| 647,000 | Pioneer Natural Resources Co., 1.125%, 01/15/2026 | 622,390 | 0.1 | |||||||
| 1,252,000 | Plains All American Pipeline L.P. / PAA Finance Corp., 4.650%, 10/15/2025 | 1,250,336 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 1,200,000 | Southwestern Energy Co., 5.700%, 01/23/2025 | $ | 1,199,924 | 0.2 | ||||||
| 333,000 | TransCanada PipeLines Ltd., 1.000%, 10/12/2024 | 332,455 | 0.0 | |||||||
| 14,675,901 | 2.4 | |||||||||
| Financial: 15.9% | ||||||||||
| 653,000 | Aflac, Inc., 1.125%, 03/15/2026 | 624,922 | 0.1 | |||||||
| 298,000 (3) | American Express Co., 4.990%, 05/01/2026 | 298,364 | 0.0 | |||||||
| 224,000 (3) | American Express Co., 5.098%, 02/16/2028 | 228,327 | 0.0 | |||||||
| 541,000 (3) | American Express Co., 5.389%, 07/28/2027 | 551,955 | 0.1 | |||||||
| 510,000 (3) | American Express Co., 5.645%, 04/23/2027 | 519,925 | 0.1 | |||||||
| 438,000 | American Tower Corp., 3.650%, 03/15/2027 | 431,406 | 0.1 | |||||||
| 112,000 | American Tower Corp., 5.250%, 07/15/2028 | 115,391 | 0.0 | |||||||
| 850,000 | Ameriprise Financial, Inc., 3.000%, 04/02/2025 | 843,065 | 0.1 | |||||||
| 98,000 | Aon North America, Inc., 5.125%, 03/01/2027 | 100,281 | 0.0 | |||||||
| 356,000 | Aon North America, Inc., 5.150%, 03/01/2029 | 367,899 | 0.1 | |||||||
| 698,000 (2) | Athene Global Funding, 5.684%, 02/23/2026 | 708,427 | 0.1 | |||||||
| 958,000 (2) | Aviation Capital Group LLC, 5.500%, 12/15/2024 | 957,242 | 0.2 | |||||||
| 577,000 (2) | Aviation Capital Group LLC, 6.375%, 07/15/2030 | 618,709 | 0.1 | |||||||
| 1,175,000 (2) | Avolon Holdings Funding Ltd., 2.528%, 11/18/2027 | 1,098,560 | 0.2 | |||||||
| 200,000 (3) | Banco Santander SA, 5.538%, 03/14/2030 | 206,878 | 0.0 | |||||||
| 400,000 | Banco Santander SA, 5.588%, 08/08/2028 | 416,559 | 0.1 | |||||||
| 1,422,000 (3) | Bank of America Corp., 1.734%, 07/22/2027 | 1,358,044 | 0.2 | |||||||
| 38,000 (3) | Bank of America Corp., 3.419%, 12/20/2028 | 36,975 | 0.0 | |||||||
| 48,000 (3) | Bank of America Corp., 3.705%, 04/24/2028 | 47,311 | 0.0 | |||||||
| 422,000 (3) | Bank of America Corp., 4.376%, 04/27/2028 | 422,734 | 0.1 | |||||||
| 1,165,000 (3) | Bank of America Corp., 5.202%, 04/25/2029 | 1,198,156 | 0.2 | |||||||
| 234,000 (3) | Bank of America Corp., MTN, 1.197%, 10/24/2026 | 225,892 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
134
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 1,281,000 (3) | Bank of America Corp., MTN, 1.319%, 06/19/2026 | $ | 1,249,729 | 0.2 | ||||||
| 684,000 (3) | Bank of America Corp., MTN, 2.015%, 02/13/2026 | 676,306 | 0.1 | |||||||
| 75,000 (3) | Bank of America Corp., MTN, 2.551%, 02/04/2028 | 72,070 | 0.0 | |||||||
| 271,000 | Bank of America NA, 5.526%, 08/18/2026 | 278,392 | 0.0 | |||||||
| 1,055,000 | Bank of Montreal, 5.300%, 06/05/2026 | 1,074,840 | 0.2 | |||||||
| 229,000 (3) | Bank of New York Mellon Corp., 4.414%, 07/24/2026 | 228,645 | 0.0 | |||||||
| 710,000 (3) | Bank of New York Mellon Corp., 4.890%, 07/21/2028 | 723,313 | 0.1 | |||||||
| 447,000 (3) | Bank of New York Mellon Corp., 4.947%, 04/26/2027 | 451,432 | 0.1 | |||||||
| 325,000 (3) | Bank of New York Mellon Corp., MTN, 4.975%, 03/14/2030 | 335,745 | 0.1 | |||||||
| 593,000 | Bank of Nova Scotia, 1.450%, 01/10/2025 | 587,383 | 0.1 | |||||||
| 522,000 | Bank of Nova Scotia, MTN, 3.450%, 04/11/2025 | 518,525 | 0.1 | |||||||
| 788,000 (2) | Blackstone Holdings Finance Co. LLC, 1.625%, 08/05/2028 | 715,427 | 0.1 | |||||||
| 329,000 (2) | Blackstone Holdings Finance Co. LLC, 2.500%, 01/10/2030 | 301,585 | 0.0 | |||||||
| 457,000 (2) | Blackstone Holdings Finance Co. LLC, 5.900%, 11/03/2027 | 478,535 | 0.1 | |||||||
| 280,000 | Blue Owl Credit Income Corp., 7.750%, 09/16/2027 | 295,087 | 0.0 | |||||||
| 220,000 (2)(3) | CaixaBank SA, 5.673%, 03/15/2030 | 228,538 | 0.0 | |||||||
| 328,000 (2)(3) | CaixaBank SA, 6.684%, 09/13/2027 | 341,226 | 0.1 | |||||||
| 304,000 | Camden Property Trust, 4.100%, 10/15/2028 | 302,588 | 0.0 | |||||||
| 315,000 (3) | Capital One Financial Corp., 1.878%, 11/02/2027 | 299,348 | 0.0 | |||||||
| 535,000 (3) | Capital One Financial Corp., 5.468%, 02/01/2029 | 548,532 | 0.1 | |||||||
| 551,000 (1)(3) | Capital One Financial Corp., 5.700%, 02/01/2030 | 570,729 | 0.1 | |||||||
| 526,000 | Charles Schwab Corp., 5.875%, 08/24/2026 | 541,483 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 377,000 (3) | Charles Schwab Corp., 6.196%, 11/17/2029 | $ | 403,104 | 0.1 | ||||||
| 615,000 (2) | CNO Global Funding, 1.650%, 01/06/2025 | 608,622 | 0.1 | |||||||
| 550,000 (2)(3) | Cooperatieve Rabobank UA, 1.339%, 06/24/2026 | 536,156 | 0.1 | |||||||
| 714,000 | Cooperatieve Rabobank UA, 4.800%, 01/09/2029 | 732,979 | 0.1 | |||||||
| 507,000 | Corebridge Financial, Inc., 3.650%, 04/05/2027 | 498,950 | 0.1 | |||||||
| 651,000 (2) | Corebridge Global Funding, 0.900%, 09/22/2025 | 629,473 | 0.1 | |||||||
| 711,000 (2)(3) | Credit Agricole SA, 5.335%, 01/10/2030 | 731,888 | 0.1 | |||||||
| 121,000 | Credit Suisse AG/New York NY, 2.950%, 04/09/2025 | 119,815 | 0.0 | |||||||
| 1,210,000 | Crown Castle, Inc., 1.350%, 07/15/2025 | 1,179,006 | 0.2 | |||||||
| 556,000 (2)(3) | Danske Bank A/S, 4.298%, 04/01/2028 | 553,943 | 0.1 | |||||||
| 329,000 (2)(3) | Danske Bank A/S, 4.613%, 10/02/2030 | 328,738 | 0.1 | |||||||
| 714,000 (3) | Deutsche Bank AG/New York NY, 2.311%, 11/16/2027 | 679,397 | 0.1 | |||||||
| 947,000 | Discover Financial Services, 3.950%, 11/06/2024 | 945,664 | 0.2 | |||||||
| 836,000 (2)(3) | DNB Bank ASA, 5.896%, 10/09/2026 | 846,278 | 0.1 | |||||||
| 703,000 | Equinix, Inc., 1.250%, 07/15/2025 | 683,626 | 0.1 | |||||||
| 1,654,000 (2) | Federation des Caisses Desjardins du Quebec, 2.050%, 02/10/2025 | 1,636,855 | 0.3 | |||||||
| 487,000 (2) | Federation des Caisses Desjardins du Quebec, 5.250%, 04/26/2029 | 502,106 | 0.1 | |||||||
| 597,000 | Fifth Third Bank NA, 3.850%, 03/15/2026 | 590,856 | 0.1 | |||||||
| 1,200,000 (2) | Freedom Mortgage Corp., 7.625%, 05/01/2026 | 1,211,905 | 0.2 | |||||||
| 600,000 (2) | GA Global Funding Trust, 3.850%, 04/11/2025 | 596,444 | 0.1 | |||||||
| 209,000 (3) | Goldman Sachs Bank USA/New York NY, 5.283%, 03/18/2027 | 211,752 | 0.0 | |||||||
| 106,000 (3) | Goldman Sachs Bank USA/New York NY, 5.414%, 05/21/2027 | 107,746 | 0.0 | |||||||
| 354,000 (3) | Goldman Sachs Group, Inc., 2.640%, 02/24/2028 | 340,314 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
135
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 130,000 (3) | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | $ | 136,653 | 0.0 | ||||||
| 130,000 (3) | Goldman Sachs Group, Inc., 6.484%, 10/24/2029 | 140,017 | 0.0 | |||||||
| 324,000 | Hanover Insurance Group, Inc., 4.500%, 04/15/2026 | 323,543 | 0.0 | |||||||
| 1,000,000 (3) | HSBC Holdings PLC, 2.099%, 06/04/2026 | 981,225 | 0.2 | |||||||
| 407,000 (3) | HSBC Holdings PLC, 2.633%, 11/07/2025 | 405,798 | 0.1 | |||||||
| 736,000 (3) | ING Groep NV, 4.017%, 03/28/2028 | 730,776 | 0.1 | |||||||
| 309,000 (3) | ING Groep NV, 6.083%, 09/11/2027 | 318,588 | 0.0 | |||||||
| 272,000 | Intercontinental Exchange, Inc., 3.625%, 09/01/2028 | 265,875 | 0.0 | |||||||
| 593,000 (3) | JPMorgan Chase & Co., 1.470%, 09/22/2027 | 561,906 | 0.1 | |||||||
| 798,000 (3) | JPMorgan Chase & Co., 1.578%, 04/22/2027 | 764,713 | 0.1 | |||||||
| 621,000 (3) | JPMorgan Chase & Co., 2.069%, 06/01/2029 | 574,711 | 0.1 | |||||||
| 1,169,000 (3) | JPMorgan Chase & Co., 2.083%, 04/22/2026 | 1,150,570 | 0.2 | |||||||
| 36,000 (3) | JPMorgan Chase & Co., 2.301%, 10/15/2025 | 35,956 | 0.0 | |||||||
| 169,000 (3) | JPMorgan Chase & Co., 2.595%, 02/24/2026 | 167,354 | 0.0 | |||||||
| 691,000 (3) | JPMorgan Chase & Co., 2.947%, 02/24/2028 | 670,276 | 0.1 | |||||||
| 500,000 (3) | JPMorgan Chase & Co., 3.509%, 01/23/2029 | 488,399 | 0.1 | |||||||
| 119,000 (3) | JPMorgan Chase & Co., 3.960%, 01/29/2027 | 118,339 | 0.0 | |||||||
| 190,000 (3) | JPMorgan Chase & Co., 4.995%, 07/22/2030 | 195,408 | 0.0 | |||||||
| 968,000 (3) | JPMorgan Chase & Co., 5.012%, 01/23/2030 | 992,998 | 0.2 | |||||||
| 720,000 (3) | JPMorgan Chase & Co., 5.040%, 01/23/2028 | 732,133 | 0.1 | |||||||
| 300,000 (3) | JPMorgan Chase & Co., 5.299%, 07/24/2029 | 310,495 | 0.0 | |||||||
| 1,566,000 (3) | JPMorgan Chase & Co., 5.546%, 12/15/2025 | 1,567,006 | 0.3 | |||||||
| 1,000,000 (3) | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 1,031,202 | 0.2 | |||||||
| 712,000 (3) | JPMorgan Chase & Co., 6.070%, 10/22/2027 | 738,032 | 0.1 | |||||||
| 597,000 | KeyBank NA/ Cleveland OH, 4.390%, 12/14/2027 | 592,270 | 0.1 | |||||||
| 1,200,000 (2) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/2027 | 1,173,621 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 707,000 (3) | Lloyds Banking Group PLC, 5.985%, 08/07/2027 | $ | 725,915 | 0.1 | ||||||
| 232,000 (2) | Lseg US Fin Corp., 4.875%, 03/28/2027 | 235,601 | 0.0 | |||||||
| 806,000 (2) | LSEGA Financing PLC, 1.375%, 04/06/2026 | 772,123 | 0.1 | |||||||
| 548,000 | Main Street Capital Corp., 6.950%, 03/01/2029 | 571,998 | 0.1 | |||||||
| 717,000 (2) | Met Tower Global Funding, 4.850%, 01/16/2027 | 730,006 | 0.1 | |||||||
| 400,000 | Mitsubishi UFJ Financial Group, Inc., 1.412%, 07/17/2025 | 390,320 | 0.1 | |||||||
| 720,000 (3) | Mitsubishi UFJ Financial Group, Inc., 1.538%, 07/20/2027 | 685,598 | 0.1 | |||||||
| 421,000 (3) | Mizuho Financial Group, Inc., 5.376%, 05/26/2030 | 436,969 | 0.1 | |||||||
| 725,000 (3) | Mizuho Financial Group, Inc., 5.382%, 07/10/2030 | 752,029 | 0.1 | |||||||
| 341,000 (3) | Morgan Stanley, 0.985%, 12/10/2026 | 326,863 | 0.1 | |||||||
| 715,000 (3) | Morgan Stanley, 1.593%, 05/04/2027 | 684,402 | 0.1 | |||||||
| 137,000 (3) | Morgan Stanley, 2.188%, 04/28/2026 | 134,883 | 0.0 | |||||||
| 574,000 (3) | Morgan Stanley, 2.475%, 01/21/2028 | 551,390 | 0.1 | |||||||
| 185,000 (3) | Morgan Stanley, 5.042%, 07/19/2030 | 190,156 | 0.0 | |||||||
| 425,000 (3) | Morgan Stanley, 5.123%, 02/01/2029 | 435,832 | 0.1 | |||||||
| 412,000 (3) | Morgan Stanley, 6.296%, 10/18/2028 | 435,666 | 0.1 | |||||||
| 644,000 (3) | Morgan Stanley, 6.407%, 11/01/2029 | 692,194 | 0.1 | |||||||
| 585,000 (3) | Morgan Stanley, GMTN, 1.512%, 07/20/2027 | 556,490 | 0.1 | |||||||
| 320,000 | Morgan Stanley, MTN, 3.125%, 07/27/2026 | 314,452 | 0.0 | |||||||
| 1,167,000 (3) | Morgan Stanley, MTN, 5.164%, 04/20/2029 | 1,199,877 | 0.2 | |||||||
| 533,000 | Morgan Stanley Bank NA, 4.754%, 04/21/2026 | 538,177 | 0.1 | |||||||
| 556,000 (2) | National Securities Clearing Corp., 5.000%, 05/30/2028 | 571,739 | 0.1 | |||||||
| 1,200,000 (2) | Nationstar Mortgage Holdings, Inc., 5.000%, 02/01/2026 | 1,195,173 | 0.2 | |||||||
| 532,000 (2) | Nationwide Building Society, 1.500%, 10/13/2026 | 504,285 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
136
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 419,000 (3) | NatWest Group PLC, 5.583%, 03/01/2028 | $ | 429,900 | 0.1 | ||||||
| 395,000 (2) | NatWest Markets PLC, 5.410%, 05/17/2029 | 410,957 | 0.1 | |||||||
| 1,200,000 | Navient Corp., 6.750%, 06/25/2025 | 1,208,300 | 0.2 | |||||||
| 374,000 (2) | Nordea Bank Abp, 3.600%, 06/06/2025 | 371,650 | 0.1 | |||||||
| 893,000 | Old Republic International Corp., 4.875%, 10/01/2024 | 893,000 | 0.1 | |||||||
| 1,200,000 | OneMain Finance Corp., 3.500%, 01/15/2027 | 1,147,921 | 0.2 | |||||||
| 219,000 (2) | Pacific Life Global Funding II, 1.200%, 06/24/2025 | 213,860 | 0.0 | |||||||
| 394,000 (2) | Pacific Life Global Funding II, 1.375%, 04/14/2026 | 377,554 | 0.1 | |||||||
| 409,000 (3) | PNC Financial Services Group, Inc., 5.492%, 05/14/2030 | 427,492 | 0.1 | |||||||
| 488,000 (2) | Principal Life Global Funding II, 5.100%, 01/25/2029 | 503,124 | 0.1 | |||||||
| 352,000 | Prologis L.P., 4.875%, 06/15/2028 | 361,344 | 0.1 | |||||||
| 148,000 (2) | Prologis Targeted US Logistics Fund L.P., 5.250%, 04/01/2029 | 152,496 | 0.0 | |||||||
| 1,200,000 (2) | RLJ Lodging Trust L.P., 3.750%, 07/01/2026 | 1,174,449 | 0.2 | |||||||
| 457,000 | Royal Bank of Canada, GMTN, 1.150%, 07/14/2026 | 433,983 | 0.1 | |||||||
| 592,000 | Royal Bank of Canada, GMTN, 1.600%, 01/21/2025 | 585,991 | 0.1 | |||||||
| 332,000 | Royal Bank of Canada, GMTN, 4.950%, 02/01/2029 | 342,486 | 0.1 | |||||||
| 160,000 (3) | Royal Bank of Canada, GMTN, 4.969%, 08/02/2030 | 164,167 | 0.0 | |||||||
| 722,000 | Royal Bank of Canada, GMTN, 5.200%, 07/20/2026 | 737,609 | 0.1 | |||||||
| 727,000 (3) | Santander UK Group Holdings PLC, 6.833%, 11/21/2026 | 742,461 | 0.1 | |||||||
| 562,000 (1) | Sixth Street Specialty Lending, Inc., 3.875%, 11/01/2024 | 561,105 | 0.1 | |||||||
| 534,000 (2) | Skandinaviska Enskilda Banken AB, 3.700%, 06/09/2025 | 530,796 | 0.1 | |||||||
| 710,000 (2) | Skandinaviska Enskilda Banken AB, 5.125%, 03/05/2027 | 726,949 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 744,000 (2)(3) | Societe Generale SA, 2.226%, 01/21/2026 | $ | 736,984 | 0.1 | ||||||
| 565,000 (3) | State Street Corp., 4.530%, 02/20/2029 | 570,846 | 0.1 | |||||||
| 644,000 (3) | State Street Corp., 5.684%, 11/21/2029 | 679,866 | 0.1 | |||||||
| 888,000 | Sumitomo Mitsui Financial Group, Inc., 1.474%, 07/08/2025 | 867,686 | 0.1 | |||||||
| 340,000 | Sumitomo Mitsui Financial Group, Inc., 5.316%, 07/09/2029 | 353,972 | 0.1 | |||||||
| 230,000 | Sumitomo Mitsui Financial Group, Inc., 5.716%, 09/14/2028 | 241,599 | 0.0 | |||||||
| 1,000,000 (2) | Sumitomo Mitsui Trust Bank Ltd., 5.200%, 03/07/2027 | 1,021,615 | 0.2 | |||||||
| 241,000 (2) | Sumitomo Mitsui Trust Bank Ltd., 5.650%, 09/14/2026 | 247,400 | 0.0 | |||||||
| 533,000 (2) | Svenska Handelsbanken AB, 3.650%, 06/10/2025 | 529,860 | 0.1 | |||||||
| 447,000 (2) | Swedbank AB, 3.356%, 04/04/2025 | 444,166 | 0.1 | |||||||
| 576,000 | Toronto-Dominion Bank, 3.766%, 06/06/2025 | 572,913 | 0.1 | |||||||
| 595,000 (1) | Toronto-Dominion Bank, GMTN, 4.980%, 04/05/2027 | 607,240 | 0.1 | |||||||
| 859,000 | Toronto-Dominion Bank, MTN, 5.532%, 07/17/2026 | 881,471 | 0.1 | |||||||
| 592,000 | Toronto-Dominion Bank FXD, 1.450%, 01/10/2025 | 586,498 | 0.1 | |||||||
| 370,000 (3) | Truist Financial Corp., MTN, 1.267%, 03/02/2027 | 352,899 | 0.1 | |||||||
| 491,000 (1)(3) | Truist Financial Corp., MTN, 1.887%, 06/07/2029 | 449,290 | 0.1 | |||||||
| 425,000 (3) | Truist Financial Corp., MTN, 4.260%, 07/28/2026 | 423,408 | 0.1 | |||||||
| 661,000 (3) | Truist Financial Corp., MTN, 5.435%, 01/24/2030 | 684,325 | 0.1 | |||||||
| 321,000 | UBS AG/London, 5.800%, 09/11/2025 | 325,559 | 0.1 | |||||||
| 1,249,000 (2)(3) | UBS Group AG, 2.193%, 06/05/2026 | 1,226,310 | 0.2 | |||||||
| 451,000 (2)(3) | UBS Group AG, 4.488%, 05/12/2026 | 449,766 | 0.1 | |||||||
| 702,000 (2)(3) | UBS Group AG, 5.428%, 02/08/2030 | 725,936 | 0.1 | |||||||
| 1,200,000 (2) | United Wholesale Mortgage LLC, 5.500%, 11/15/2025 | 1,198,752 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
137
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 440,000 (3) | US Bancorp, 5.384%, 01/23/2030 | $ | 457,046 | 0.1 | ||||||
| 406,000 (3) | US Bancorp, 5.775%, 06/12/2029 | 425,613 | 0.1 | |||||||
| 999,000 (2) | VICI Properties L.P. / VICI Note Co., Inc., 3.500%, 02/15/2025 | 992,146 | 0.2 | |||||||
| 777,000 (1)(2) | VICI Properties L.P. / VICI Note Co., Inc., 4.625%, 06/15/2025 | 772,874 | 0.1 | |||||||
| 97,000 (3) | Wells Fargo & Co., MTN, 2.164%, 02/11/2026 | 95,955 | 0.0 | |||||||
| 601,000 (3) | Wells Fargo & Co., MTN, 2.879%, 10/30/2030 | 557,675 | 0.1 | |||||||
| 215,000 (3) | Wells Fargo & Co., MTN, 3.526%, 03/24/2028 | 210,973 | 0.0 | |||||||
| 168,000 (3) | Wells Fargo & Co., MTN, 3.584%, 05/22/2028 | 164,768 | 0.0 | |||||||
| 99,000 (3) | Wells Fargo & Co., MTN, 4.540%, 08/15/2026 | 98,851 | 0.0 | |||||||
| 281,000 (3) | Wells Fargo & Co., MTN, 5.574%, 07/25/2029 | 292,420 | 0.0 | |||||||
| 574,000 | Wells Fargo Bank NA, 5.450%, 08/07/2026 | 588,025 | 0.1 | |||||||
| 276,000 (2) | Westpac New Zealand Ltd., 5.132%, 02/26/2027 | 282,048 | 0.0 | |||||||
| 1,200,000 (2) | XHR LP, 6.375%, 08/15/2025 | 1,200,839 | 0.2 | |||||||
| 98,487,287 | 15.9 | |||||||||
| Industrial: 2.7% | ||||||||||
| 185,000 | AGCO Corp., 5.450%, 03/21/2027 | 188,880 | 0.0 | |||||||
| 735,000 | Avnet, Inc., 6.250%, 03/15/2028 | 773,031 | 0.1 | |||||||
| 325,000 (2) | BAE Systems PLC, 5.125%, 03/26/2029 | 334,551 | 0.1 | |||||||
| 754,000 (2) | Bombardier, Inc., 7.875%, 04/15/2027 | 756,588 | 0.1 | |||||||
| 1,200,000 (2) | Brundage-Bone Concrete Pumping Holdings, Inc., 6.000%, 02/01/2026 | 1,196,289 | 0.2 | |||||||
| 1,200,000 (2) | Cascades, Inc. / Cascades USA, Inc., 5.125%, 01/15/2026 | 1,192,585 | 0.2 | |||||||
| 315,000 | CNH Industrial Capital LLC, 5.100%, 04/20/2029 | 324,377 | 0.1 | |||||||
| 1,225,000 | CNH Industrial Capital LLC, 5.450%, 10/14/2025 | 1,236,896 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 656,000 | FedEx Corp., 3.250%, 04/01/2026 | $ | 646,738 | 0.1 | ||||||
| 560,000 | GATX Corp., 5.400%, 03/15/2027 | 574,971 | 0.1 | |||||||
| 835,000 (2) | GFL Environmental, Inc., 5.125%, 12/15/2026 | 833,791 | 0.1 | |||||||
| 368,000 | HEICO Corp., 5.250%, 08/01/2028 | 380,085 | 0.1 | |||||||
| 465,000 | Ingersoll Rand, Inc., 5.197%, 06/15/2027 | 476,739 | 0.1 | |||||||
| 251,000 | John Deere Capital Corp., MTN, 2.350%, 03/08/2027 | 241,766 | 0.0 | |||||||
| 185,000 | L3Harris Technologies, Inc., 4.400%, 06/15/2028 | 185,858 | 0.0 | |||||||
| 705,000 (2) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 01/12/2027 | 718,688 | 0.1 | |||||||
| 743,000 (2) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 6.050%, 08/01/2028 | 782,313 | 0.1 | |||||||
| 1,239,000 | Raytheon Technologies Corp., 3.950%, 08/16/2025 | 1,232,681 | 0.2 | |||||||
| 600,000 (2) | Rolls-Royce PLC, 3.625%, 10/14/2025 | 591,768 | 0.1 | |||||||
| 271,000 | Ryder System, Inc., GMTN, 4.950%, 09/01/2029 | 276,475 | 0.0 | |||||||
| 508,000 | Ryder System, Inc., MTN, 5.250%, 06/01/2028 | 524,545 | 0.1 | |||||||
| 282,000 | Ryder System, Inc., MTN, 5.375%, 03/15/2029 | 292,876 | 0.1 | |||||||
| 101,000 | Ryder System, Inc., MTN, 5.500%, 06/01/2029 | 105,379 | 0.0 | |||||||
| 1,200,000 (2) | Standard Industries, Inc., 5.000%, 02/15/2027 | 1,190,842 | 0.2 | |||||||
| 833,000 | Stanley Black & Decker, Inc., 6.000%, 03/06/2028 | 878,949 | 0.1 | |||||||
| 707,000 | Veralto Corp., 5.500%, 09/18/2026 | 723,256 | 0.1 | |||||||
| 355,000 | Waste Management, Inc., 4.950%, 07/03/2027 | 364,649 | 0.1 | |||||||
| 17,025,566 | 2.7 | |||||||||
| Technology: 2.1% | ||||||||||
| 364,000 | Analog Devices, Inc., 2.950%, 04/01/2025 | 360,864 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
138
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 178,000 (2) | Booz Allen Hamilton, Inc., 3.875%, 09/01/2028 | $ | 172,767 | 0.0 | ||||||
| 149,000 (2) | Booz Allen Hamilton, Inc., 4.000%, 07/01/2029 | 145,068 | 0.0 | |||||||
| 731,000 | Broadcom, Inc., 3.459%, 09/15/2026 | 721,515 | 0.1 | |||||||
| 714,000 | Broadcom, Inc., 4.150%, 02/15/2028 | 713,420 | 0.1 | |||||||
| 355,000 | Cadence Design Systems, Inc., 4.200%, 09/10/2027 | 356,828 | 0.1 | |||||||
| 89,000 (1) | Concentrix Corp., 6.600%, 08/02/2028 | 92,889 | 0.0 | |||||||
| 1,244,000 | Fidelity National Information Services, Inc., 1.150%, 03/01/2026 | 1,189,550 | 0.2 | |||||||
| 237,000 | Fiserv, Inc., 5.150%, 03/15/2027 | 242,375 | 0.0 | |||||||
| 685,000 | Fiserv, Inc., 5.450%, 03/02/2028 | 710,980 | 0.1 | |||||||
| 656,000 | Hewlett Packard Enterprise Co., 4.550%, 10/15/2029 | 654,466 | 0.1 | |||||||
| 1,059,000 | HP, Inc., 2.200%, 06/17/2025 | 1,039,898 | 0.2 | |||||||
| 702,000 | IBM International Capital Pte Ltd., 4.600%, 02/05/2029 | 714,692 | 0.1 | |||||||
| 297,000 | Intel Corp., 3.700%, 07/29/2025 | 294,298 | 0.0 | |||||||
| 999,000 | Microchip Technology, Inc., 4.250%, 09/01/2025 | 994,645 | 0.2 | |||||||
| 1,008,000 | NetApp, Inc., 1.875%, 06/22/2025 | 987,253 | 0.2 | |||||||
| 923,000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 2.700%, 05/01/2025 | 910,309 | 0.1 | |||||||
| 643,000 | Oracle Corp., 1.650%, 03/25/2026 | 618,365 | 0.1 | |||||||
| 313,000 | Oracle Corp., 2.500%, 04/01/2025 | 309,440 | 0.1 | |||||||
| 633,000 | Oracle Corp., 2.650%, 07/15/2026 | 615,512 | 0.1 | |||||||
| 682,000 | Take-Two Interactive Software, Inc., 3.550%, 04/14/2025 | 676,896 | 0.1 | |||||||
| 421,000 | VMware, Inc., 1.400%, 08/15/2026 | 399,064 | 0.1 | |||||||
| 290,000 | Workday, Inc., 3.500%, 04/01/2027 | 285,498 | 0.0 | |||||||
| 13,206,592 | 2.1 | |||||||||
| Utilities: 3.8% | ||||||||||
| 518,000 (2) | AEP Texas, Inc., 3.850%, 10/01/2025 | 513,339 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 399,000 | AES Corp., 1.375%, 01/15/2026 | $ | 383,017 | 0.1 | ||||||
| 1,119,000 | AES Corp., 5.450%, 06/01/2028 | 1,152,421 | 0.2 | |||||||
| 579,000 (1) | Alabama Power Co., 3.750%, 09/01/2027 | 576,418 | 0.1 | |||||||
| 502,000 | Ameren Corp., 5.700%, 12/01/2026 | 516,244 | 0.1 | |||||||
| 607,000 | Ameren Illinois Co., 3.800%, 05/15/2028 | 600,930 | 0.1 | |||||||
| 637,000 | American Electric Power Co., Inc., 5.200%, 01/15/2029 | 657,584 | 0.1 | |||||||
| 551,000 | Avangrid, Inc., 3.200%, 04/15/2025 | 545,467 | 0.1 | |||||||
| 359,000 | Connecticut Light and Power Co., 4.650%, 01/01/2029 | 365,246 | 0.1 | |||||||
| 315,000 | Consumers Energy Co., 4.900%, 02/15/2029 | 325,085 | 0.0 | |||||||
| 582,000 (3) | DTE Energy Co., 4.220%, 11/01/2024 | 581,498 | 0.1 | |||||||
| 534,000 | DTE Energy Co., 5.100%, 03/01/2029 | 550,098 | 0.1 | |||||||
| 1,032,000 (2) | East Ohio Gas Co., 1.300%, 06/15/2025 | 1,005,646 | 0.2 | |||||||
| 697,000 (2) | Enel Finance International NV, 6.800%, 10/14/2025 | 714,021 | 0.1 | |||||||
| 927,000 | Entergy Corp., 0.900%, 09/15/2025 | 895,926 | 0.1 | |||||||
| 438,000 | Eversource Energy, 2.900%, 03/01/2027 | 423,958 | 0.1 | |||||||
| 713,000 | Eversource Energy, 4.750%, 05/15/2026 | 717,348 | 0.1 | |||||||
| 266,000 | Exelon Corp., 5.150%, 03/15/2029 | 275,717 | 0.0 | |||||||
| 697,000 | Georgia Power Co., 5.004%, 02/23/2027 | 712,480 | 0.1 | |||||||
| 369,000 | Interstate Power and Light Co., 3.250%, 12/01/2024 | 367,845 | 0.1 | |||||||
| 320,000 (2) | Liberty Utilities Co., 5.577%, 01/31/2029 | 330,984 | 0.1 | |||||||
| 203,000 | National Rural Utilities Cooperative Finance Corp., 4.120%, 09/16/2027 | 204,451 | 0.0 | |||||||
| 309,000 | National Rural Utilities Cooperative Finance Corp., 5.150%, 06/15/2029 | 320,863 | 0.0 | |||||||
| 417,000 | National Rural Utilities Cooperative Finance Corp., MTN, 1.875%, 02/07/2025 | 412,637 | 0.1 | |||||||
| 156,000 | National Rural Utilities Cooperative Finance Corp., MTN, 5.600%, 11/13/2026 | 160,705 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
139
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 392,000 (2) | New York State Electric & Gas Corp., 5.650%, 08/15/2028 | $ | 408,645 | 0.1 | ||||||
| 516,000 | NextEra Energy Capital Holdings, Inc., 1.875%, 01/15/2027 | 490,113 | 0.1 | |||||||
| 446,000 | NextEra Energy Capital Holdings, Inc., 1.900%, 06/15/2028 | 411,383 | 0.1 | |||||||
| 464,000 | NextEra Energy Capital Holdings, Inc., 4.625%, 07/15/2027 | 471,039 | 0.1 | |||||||
| 257,000 | NextEra Energy Capital Holdings, Inc., 4.900%, 02/28/2028 | 262,746 | 0.0 | |||||||
| 535,000 (2) | Niagara Mohawk Power Corp., 1.960%, 06/27/2030 | 469,371 | 0.1 | |||||||
| 621,000 | NiSource, Inc., 0.950%, 08/15/2025 | 601,483 | 0.1 | |||||||
| 632,000 | ONE Gas, Inc., 5.100%, 04/01/2029 | 655,012 | 0.1 | |||||||
| 573,086 | PG&E Wildfire Recovery Funding LLC A-1, 3.594%, 06/01/2032 | 564,454 | 0.1 | |||||||
| 647,000 | Public Service Enterprise Group, Inc., 0.800%, 08/15/2025 | 625,758 | 0.1 | |||||||
| 170,000 | Public Service Enterprise Group, Inc., 5.850%, 11/15/2027 | 178,121 | 0.0 | |||||||
| 220,000 | Sempra Energy, 5.400%, 08/01/2026 | 224,207 | 0.0 | |||||||
| 1,252,000 | Sierra Pacific Power Co., 2.600%, 05/01/2026 | 1,221,863 | 0.2 | |||||||
| 238,000 | Southern Co., 5.500%, 03/15/2029 | 249,740 | 0.0 | |||||||
| 283,000 | Southern Co. Gas Capital Corp., 3.250%, 06/15/2026 | 278,883 | 0.0 | |||||||
| 417,000 | Tampa Electric Co., 4.900%, 03/01/2029 | 427,722 | 0.1 | |||||||
| 351,000 (2) | Trans-Allegheny Interstate Line Co., 3.850%, 06/01/2025 | 348,410 | 0.1 | |||||||
| 680,000 (2) | Vistra Operations Co. LLC, 5.500%, 09/01/2026 | 680,312 | 0.1 | |||||||
| 520,000 (2) | Vistra Operations Co. LLC, 5.625%, 02/15/2027 | 519,587 | 0.1 | |||||||
| 23,000 | WEC Energy Group, Inc., 2.200%, 12/15/2028 | 21,246 | 0.0 | |||||||
| 815,000 | WEC Energy Group, Inc., 4.750%, 01/09/2026 | 818,746 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||||
| Utilities: (continued) | |||||||||||
| 51,000 | WEC Energy Group, Inc., 5.000%, 09/27/2025 | $ | 51,227 | 0.0 | |||||||
| 71,000 | WEC Energy Group, Inc., 5.150%, 10/01/2027 | 72,909 | 0.0 | ||||||||
| 23,362,905 | 3.8 | ||||||||||
| Total Corporate Bonds/ Notes (Cost $250,276,481) | 253,557,135 | 41.0 | |||||||||
| U.S. TREASURY OBLIGATIONS: 21.3% | |||||||||||
| United States Treasury Notes: 21.3% | |||||||||||
| 29,400,000 | 2.000%, 08/15/2025 | 28,889,111 | 4.7 | ||||||||
| 1,772,000 | 3.375%, 09/30/2029 | 1,766,808 | 0.3 | ||||||||
| 5,607,000 | 3.500%, 09/30/2026 | 5,591,559 | 0.9 | ||||||||
| 95,886,600 | 3.625%, 09/15/2027 | 95,403,422 | 15.4 | ||||||||
| 131,650,900 | 21.3 | ||||||||||
| Total U.S. Treasury Obligations (Cost $131,817,378) | 131,650,900 | 21.3 | |||||||||
| ASSET-BACKED SECURITIES: 15.8% | |||||||||||
| Automobile Asset-Backed Securities: 5.2% | |||||||||||
| 750,000 | Americredit Automobile Receivables Trust 2023-1 A3, 5.620%, 11/18/2027 | 758,510 | 0.1 | ||||||||
| 155,007 | AmeriCredit Automobile Receivables Trust 2021-3 A3, 0.760%, 08/18/2026 | 154,015 | 0.0 | ||||||||
| 2,850,000 | BMW Vehicle Lease Trust 2024-1 A4, 5.000%, 06/25/2027 | 2,893,038 | 0.5 | ||||||||
| 2,850,000 | Carmax Auto Owner Trust 2023-3 B, 5.470%, 02/15/2029 | 2,924,651 | 0.5 | ||||||||
| 300,000 | CarMax Auto Owner Trust 2022-1 B, 1.950%, 09/15/2027 | 289,307 | 0.0 | ||||||||
| 1,650,000 (2) | Chase Auto Owner Trust 2023-AA A3, 5.680%, 01/25/2029 | 1,691,453 | 0.3 | ||||||||
| 1,050,000 (2) | Citizens Auto Receivables Trust 2024-1 A3, 5.110%, 04/17/2028 | 1,061,973 | 0.2 | ||||||||
| 850,000 | Drive Auto Receivables Trust 2024-2 A3, 4.500%, 09/15/2028 | 849,943 | 0.1 | ||||||||
| 450,000 | GM Financial Automobile Leasing Trust 2023-1 A4, 5.160%, 01/20/2027 | 451,567 | 0.1 | ||||||||
| 400,000 | GM Financial Consumer Automobile Receivables Trust 2022-4 B, 5.500%, 08/16/2028 | 409,275 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
140
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Automobile Asset-Backed Securities: (continued) | ||||||||||
| 550,000 | GM Financial Consumer Automobile Receivables Trust 2023-1 A3, 4.660%, 02/16/2028 | $ | 551,839 | 0.1 | ||||||
| 1,750,000 | GM Financial Consumer Automobile Receivables Trust 2023-3 A4, 5.340%, 12/18/2028 | 1,797,301 | 0.3 | |||||||
| 2,600,000 (2) | GM Financial Revolving Receivables Trust 2021-1 A, 1.170%, 06/12/2034 | 2,454,460 | 0.4 | |||||||
| 1,050,000 | Hyundai Auto Receivables Trust 2021-C B, 1.490%, 12/15/2027 | 1,012,731 | 0.2 | |||||||
| 67,668 (2) | JPMorgan Chase Bank NA - CACLN 2021-3 B, 0.760%, 02/26/2029 | 66,739 | 0.0 | |||||||
| 1,600,000 | Nissan Auto Lease Trust 2023-B A4, 5.610%, 11/15/2027 | 1,618,716 | 0.3 | |||||||
| 1,200,000 (2) | PenFed Auto Receivables Owner Trust 2024-A A3, 4.700%, 06/15/2029 | 1,208,295 | 0.2 | |||||||
| 1,250,000 (2) | Porsche Financial Auto Securitization Trust 2023-1A A4, 4.720%, 06/23/2031 | 1,262,320 | 0.2 | |||||||
| 1,100,000 (2) | Porsche Innovative Lease Owner Trust 2024-1A A4, 4.660%, 02/20/2030 | 1,109,531 | 0.2 | |||||||
| 2,600,000 | Santander Drive Auto Receivables Trust 2023-3 B, 5.610%, 07/17/2028 | 2,634,660 | 0.4 | |||||||
| 1,550,000 | Santander Drive Auto Receivables Trust 2024-4 A3, 4.850%, 01/16/2029 | 1,559,558 | 0.2 | |||||||
| 950,000 (2) | SCCU Auto Receivables Trust 2024-1A A3, 5.110%, 06/15/2029 | 964,267 | 0.1 | |||||||
| 1,800,000 (2) | Tesla Auto Lease Trust 2023-A A3, 5.890%, 06/22/2026 | 1,810,246 | 0.3 | |||||||
| 2,750,000 | Toyota Auto Receivables Owner Trust 2024-A A3, 4.830%, 10/16/2028 | 2,782,095 | 0.4 | |||||||
| 32,316,490 | 5.2 | |||||||||
| Other Asset-Backed Securities: 9.6% | ||||||||||
| 550,000 (2)(3) | AB BSL CLO 4 Ltd. 2023-4A A, 7.282%, (TSFR3M + 2.000%), 04/20/2036 | 553,407 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 391,886 (2)(3) | AMMC CLO 22 Ltd. 2018-22A A, 6.576%, (TSFR3M + 1.292%), 04/25/2031 | $ | 392,370 | 0.1 | ||||||
| 1,873,912 (2)(3) | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 A, 6.561%, (TSFR1M + 1.464%), 11/15/2036 | 1,873,440 | 0.3 | |||||||
| 900,000 (2)(3) | Bain Capital Credit CLO 2018-2A A1R, 6.359%, (TSFR3M + 1.080%), 07/19/2031 | 900,790 | 0.1 | |||||||
| 1,900,000 (2)(3) | Ballyrock CLO 17 Ltd. 2021-17A A1B, 6.944%, (TSFR3M + 1.662%), 10/20/2034 | 1,901,372 | 0.3 | |||||||
| 1,724,284 (2)(3) | Barings CLO Ltd. 2015-IA AR, 6.534%, (TSFR3M + 1.252%), 01/20/2031 | 1,726,239 | 0.3 | |||||||
| 2,750,000 (2)(3) | Barings CLO Ltd. 2024-1A A, 6.899%, (TSFR3M + 1.630%), 01/20/2037 | 2,764,723 | 0.4 | |||||||
| 963,786 (2)(3) | Benefit Street Partners CLO IX Ltd. 2016-9A AR, 6.654%, (TSFR3M + 1.372%), 07/20/2031 | 965,440 | 0.2 | |||||||
| 1,650,000 (2)(3) | Benefit Street Partners CLO XIX Ltd. 2019-19A AR, 6.481%, (TSFR3M + 1.180%), 01/15/2033 | 1,651,650 | 0.3 | |||||||
| 2,000,000 (2)(3) | Benefit Street Partners CLO XX Ltd. 2020-20A AR, 6.733%, (TSFR3M + 1.432%), 07/15/2034 | 2,001,250 | 0.3 | |||||||
| 2,500,000 (2)(3) | BlueMountain CLO XXXII Ltd. 2021-32A A, 6.733%, (TSFR3M + 1.432%), 10/15/2034 | 2,503,250 | 0.4 | |||||||
| 951,032 (2)(3) | BlueMountain Fuji US Clo I Ltd. 2017-1A A1R, 6.524%, (TSFR3M + 1.242%), 07/20/2029 | 951,970 | 0.2 | |||||||
| 4,000,000 (2)(3) | BRSP Ltd. 2021-FL1 B, 6.979%, (TSFR1M + 2.014%), 08/19/2038 | 3,943,430 | 0.6 | |||||||
| 600,000 (2)(3) | CARLYLE US CLO Ltd. 2017-3A A1R2, 6.535%, (TSFR3M + 1.400%), 10/21/2037 | 600,463 | 0.1 | |||||||
| 800,000 (2)(3) | CARLYLE US CLO Ltd. 2021-4A A2, 6.944%, (TSFR3M + 1.662%), 04/20/2034 | 801,882 | 0.1 | |||||||
| 250,000 (2)(3) | CIFC Funding Ltd. 2019-6A A2R, 7.028%, (TSFR3M + 1.700%), 07/16/2037 | 250,104 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
141
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 657,386 | CNH Equipment Trust 2021-B A3, 0.440%, 08/17/2026 | $ | 646,874 | 0.1 | ||||||
| 239,342 | CNH Equipment Trust 2021-C A3, 0.810%, 12/15/2026 | 234,859 | 0.0 | |||||||
| 1,750,000 (2) | DLLAA LLC 2023-1A A3, 5.640%, 02/22/2028 | 1,792,529 | 0.3 | |||||||
| 250,000 (2)(3) | Eaton Vance Clo Ltd. 2015-1A A2R, 6.794%, (TSFR3M + 1.512%), 01/20/2030 | 250,389 | 0.0 | |||||||
| 1,075,710 (2)(3) | Goldentree Loan Management US Clo 4 Ltd. 2019-4A ARR, 6.433%, (TSFR3M + 1.150%), 04/24/2031 | 1,076,517 | 0.2 | |||||||
| 368,459 (2)(3) | HGI CRE CLO Ltd. 2022-FL3 A, 7.042%, (SOFR30A + 1.700%), 04/20/2037 | 369,440 | 0.1 | |||||||
| 450,000 (2)(3) | Invesco US CLO Ltd. 2023-1A AR, 6.852%, (TSFR3M + 1.570%), 04/22/2037 | 451,946 | 0.1 | |||||||
| 530,270 | John Deere Owner Trust 2021-B A3, 0.520%, 03/16/2026 | 524,123 | 0.1 | |||||||
| 450,000 | John Deere Owner Trust 2022 2022-A A4, 2.490%, 01/16/2029 | 441,559 | 0.1 | |||||||
| 467,529 (2) | Kubota Credit Owner Trust 2021-2A A3, 0.560%, 11/17/2025 | 464,044 | 0.1 | |||||||
| 1,100,000 (2) | Kubota Credit Owner Trust 2023-1A A3, 5.020%, 06/15/2027 | 1,108,824 | 0.2 | |||||||
| 707,714 (2)(3) | LCM 26 Ltd. 26A A1, 6.614%, (TSFR3M + 1.332%), 01/20/2031 | 708,421 | 0.1 | |||||||
| 900,000 (2)(3) | Madison Park Funding XXX Ltd. 2018-30A A1R, 6.561%, (TSFR3M + 1.360%), 07/16/2037 | 903,081 | 0.1 | |||||||
| 2,750,000 (2)(3) | Magnetite XXVI Ltd. 2020-26A A2R, 6.946%, (TSFR3M + 1.662%), 07/25/2034 | 2,750,767 | 0.4 | |||||||
| 1,575,000 (2)(3) | MF1 Ltd. 2021-FL6 C, 6.979%, (TSFR1M + 1.964%), 07/16/2036 | 1,544,076 | 0.2 | |||||||
| 968,663 (2)(3) | MF1 Ltd. 2022-FL8 A, 6.315%, (TSFR1M + 1.350%), 02/19/2037 | 966,326 | 0.2 | |||||||
| 1,452,154 (2)(3) | Neuberger Berman Loan Advisers CLO 26 Ltd. 2017-26A AR, 6.461%, (TSFR3M + 1.182%), 10/18/2030 | 1,453,087 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 1,550,000 (2)(3) | OCP CLO Ltd. 2020-19A AR, 6.694%, (TSFR3M + 1.412%), 10/20/2034 | $ | 1,553,100 | 0.3 | ||||||
| 300,000 (2)(3) | Octagon 61 Ltd. 2023-2A A, 7.132%, (TSFR3M + 1.850%), 04/20/2036 | 301,650 | 0.0 | |||||||
| 250,000 (2)(3) | Octagon Investment Partners XV Ltd. 2013-1A A2R, 6.891%, (TSFR3M + 1.612%), 07/19/2030 | 250,012 | 0.0 | |||||||
| 842,540 (2)(3) | Octagon Loan Funding Ltd. 2014-1A ARR, 6.543%, (TSFR3M + 1.442%), 11/18/2031 | 843,227 | 0.1 | |||||||
| 3,700,000 (2)(3) | OHA Credit Partners XIII Ltd. 2016-13A A1R2, 6.459%, (TSFR3M + 1.380%), 10/21/2037 | 3,703,208 | 0.6 | |||||||
| 500,000 (2)(3) | OHA Loan Funding Ltd. 2015-1A AR3, 6.691%, (TSFR3M + 1.412%), 01/19/2037 | 500,765 | 0.1 | |||||||
| 126,492 (2)(3) | Palmer Square CLO Ltd. 2015-2A A1R2, 6.644%, (TSFR3M + 1.362%), 07/20/2030 | 126,673 | 0.0 | |||||||
| 1,850,000 (2)(3) | Palmer Square CLO Ltd. 2018-1A A1R, 6.799%, (TSFR3M + 1.520%), 04/18/2037 | 1,861,642 | 0.3 | |||||||
| 1,650,000 (2)(3) | Palmer Square CLO Ltd. 2019-1A A1R, 6.528%, (TSFR3M + 1.412%), 11/14/2034 | 1,653,053 | 0.3 | |||||||
| 600,000 (2) | PFS Financing Corp. 2022-D A, 4.270%, 08/15/2027 | 598,354 | 0.1 | |||||||
| 950,000 (2) | PFS Financing Corp. 2023-C A, 5.520%, 10/15/2028 | 974,784 | 0.2 | |||||||
| 750,000 (2)(3) | Rad CLO 6 Ltd. 2019-6A A1, 6.924%, (TSFR3M + 1.642%), 01/20/2033 | 750,703 | 0.1 | |||||||
| 1,470,017 (2)(3) | Sound Point CLO XVIII Ltd. 2017-4A A1, 6.664%, (TSFR3M + 1.382%), 01/21/2031 | 1,471,031 | 0.2 | |||||||
| 410,000 (2)(3) | Sound Point CLO XXV Ltd. 2019-4A A1R, 6.565%, (TSFR3M + 1.280%), 04/25/2033 | 409,906 | 0.1 | |||||||
| 931,691 (2)(3) | TCI-Symphony CLO Ltd. 2017-1A AR, 6.493%, (TSFR3M + 1.192%), 07/15/2030 | 932,755 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
142
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 500,000 (2)(3) | THL Credit Wind River CLO Ltd. 2019-1A AR, 6.704%, (TSFR3M + 1.422%), 07/20/2034 | $ | 500,655 | 0.1 | ||||||
| 970,000 (2)(3) | Venture 37 CLO Ltd. 2019-37A A1RR, 6.551%, (TSFR3M + 1.250%), 07/15/2032 | 970,387 | 0.2 | |||||||
| 500,000 (2) | Volvo Financial Equipment LLC Series 2024-1A A3, 4.290%, 10/16/2028 | 502,038 | 0.1 | |||||||
| 500,000 (2) | Volvo Financial Equipment LLC Series 2024-1A A4, 4.290%, 07/15/2031 | 500,766 | 0.1 | |||||||
| 300,000 (2)(3) | Wellman Park CLO Ltd. 2021-1A AR, 6.558%, (TSFR3M + 1.350%), 07/15/2037 | 300,142 | 0.0 | |||||||
| 1,250,000 (2)(3) | Wind River CLO Ltd. 2022-1A A, 6.812%, (TSFR3M + 1.530%), 07/20/2035 | 1,250,822 | 0.2 | |||||||
| 59,424,315 | 9.6 | |||||||||
| Student Loan Asset-Backed Securities: 1.0% | ||||||||||
| 78,791 (2)(3) | Navient Private Education Loan Trust 2014-AA A3, 6.811%, (TSFR1M + 1.714%), 10/15/2031 | 78,986 | 0.0 | |||||||
| 133,819 (2) | Navient Private Education Refi Loan Trust 2019-FA A2, 2.600%, 08/15/2068 | 128,340 | 0.0 | |||||||
| 42,515 (2) | Navient Private Education Refi Loan Trust 2020-GA A, 1.170%, 09/16/2069 | 39,429 | 0.0 | |||||||
| 79,300 (2) | Navient Private Education Refi Loan Trust 2021-A A, 0.840%, 05/15/2069 | 72,122 | 0.0 | |||||||
| 1,246,757 (2) | Navient Private Education Refi Loan Trust 2021-EA A, 0.970%, 12/16/2069 | 1,103,539 | 0.2 | |||||||
| 299,627 (2) | Navient Private Education Refi Loan Trust 2021-FA A, 1.110%, 02/18/2070 | 266,966 | 0.1 | |||||||
| 2,586,860 (2) | Navient Private Education Refi Loan Trust 2023-A A, 5.510%, 10/15/2071 | 2,649,909 | 0.4 | |||||||
| 136,913 (2) | Sofi Professional Loan Program LLC 2018-A A2B, 2.950%, 02/25/2042 | 135,390 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| ASSET-BACKED SECURITIES: (continued) | |||||||||||
| Student Loan Asset-Backed Securities: (continued) | |||||||||||
| 340,723 (2) | SoFi Professional Loan Program Trust 2021-B AFX, 1.140%, 02/15/2047 | $ | 300,148 | 0.1 | |||||||
| 1,313,292 (2) | Sofi Proffesional Loan Program Trust 2021-A AFX, 1.030%, 08/17/2043 | 1,160,995 | 0.2 | ||||||||
| 5,935,824 | 1.0 | ||||||||||
| Total Asset-Backed Securities (Cost $97,254,575) | 97,676,629 | 15.8 | |||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: 9.1% | |||||||||||
| 1,478,947 (2)(3) | AREIT LLC 2023-CRE8 A, 7.195%, (TSFR1M + 2.112%), 08/17/2041 | 1,487,384 | 0.2 | ||||||||
| 1,000,000 (2)(3) | ARES1 2024-IND2 A, 6.293%, (TSFR1M + 1.443%), 10/15/2034 | 1,001,188 | 0.2 | ||||||||
| 500,000 (2) | ARZ Trust 2024-BILT A, 5.772%, 06/11/2029 | 519,950 | 0.1 | ||||||||
| 350,000 | BANK5 Trust 2024-5YR6 A3, 6.225%, 05/15/2057 | 372,928 | 0.1 | ||||||||
| 2,000,000 | BBCMS Mortgage Trust 2024-5C29 A3, 5.208%, 09/15/2057 | 2,057,749 | 0.3 | ||||||||
| 1,000,000 (3) | Benchmark Mortgage Trust 2024-V7 A3, 6.228%, 05/15/2056 | 1,067,905 | 0.2 | ||||||||
| 2,917,000 (2)(3) | BHMS 2018-ATLS C, 7.294%, (TSFR1M + 2.197%), 07/15/2035 | 2,903,504 | 0.5 | ||||||||
| 1,000,000 | BMO Mortgage Trust 2024-5C5 A3, 5.857%, 02/15/2057 | 1,054,138 | 0.2 | ||||||||
| 1,250,000 (3) | BMO Mortgage Trust 2024-5C6 B, 6.086%, 09/15/2057 | 1,291,913 | 0.2 | ||||||||
| 266,000 (2)(3) | BX 2021-MFM1 B, 6.161%, (TSFR1M + 1.064%), 01/15/2034 | 263,978 | 0.0 | ||||||||
| 1,250,000 (2)(3) | BX Commercial Mortgage Trust 2024- AIR2 B, 6.892%, (TSFR1M + 1.792%), 10/15/2041 | 1,251,711 | 0.2 | ||||||||
| 500,000 (2)(3) | BX Commercial Mortgage Trust 2024- KING A, 6.638%, (TSFR1M + 1.541%), 05/15/2034 | 500,640 | 0.1 | ||||||||
| 1,550,000 (2)(3) | BX Trust 2021-ARIA C, 6.857%, (TSFR1M + 1.760%), 10/15/2036 | 1,538,526 | 0.2 | ||||||||
| 1,000,000 (2)(3) | BX Trust 2021-LGCY A, 5.717%, (TSFR1M + 0.620%), 10/15/2036 | 987,492 | 0.2 | ||||||||
See Accompanying Notes to Financial Statements
143
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,173,045 (2)(3) | BX Trust 2022-PSB A, 7.548%, (TSFR1M + 2.451%), 08/15/2039 | $ | 1,177,444 | 0.2 | ||||||
| 2,450,000 (2)(3) | BX Trust 2024-VLT4 B, 7.037%, (TSFR1M + 1.941%), 07/15/2029 | 2,454,927 | 0.4 | |||||||
| 1,500,000 | Citigroup Commercial Mortgage Trust 2016- GC36 A5, 3.616%, 02/10/2049 | 1,466,009 | 0.2 | |||||||
| 2,000,000 | Citigroup Commercial Mortgage Trust 2018- B2 A4, 4.009%, 03/10/2051 | 1,971,707 | 0.3 | |||||||
| 750,000 | COMM Mortgage Trust 2015-CR23 AM, 3.801%, 05/10/2048 | 740,728 | 0.1 | |||||||
| 639,000 | COMM Mortgage Trust 2015-CR25 A4, 3.759%, 08/10/2048 | 632,499 | 0.1 | |||||||
| 1,300,000 | COMM Mortgage Trust 2015-CR26 A4, 3.630%, 10/10/2048 | 1,281,299 | 0.2 | |||||||
| 1,200,000 | Csail Commercial Mortgage Trust 2015- C2 A4, 3.504%, 06/15/2057 | 1,189,042 | 0.2 | |||||||
| 238,093 | DBJPM Mortgage Trust 2017-C6 A3, 3.269%, 06/10/2050 | 231,104 | 0.0 | |||||||
| 4,000,000 (2) | DC Commercial Mortgage Trust 2023-DC A, 6.314%, 09/12/2040 | 4,199,715 | 0.7 | |||||||
| 1,500,000 (2) | ELM Trust 2024- ELM B15, 6.195%, 06/10/2039 | 1,534,911 | 0.2 | |||||||
| 1,000,000 (2)(3) | FS Trust 2024-HULA B, 7.187%, (TSFR1M + 2.091%), 08/15/2039 | 1,003,441 | 0.2 | |||||||
| 710,000 (2)(4) | GAM Re-REMIC Trust 2021-FRR1 2B, 0.000%, 11/29/2050 | 573,294 | 0.1 | |||||||
| 49,744 | Ginnie Mae 2017- 100 AB, 2.300%, 04/16/2052 | 47,734 | 0.0 | |||||||
| 5,006 | Ginnie Mae 2017-51 AB, 2.350%, 04/16/2057 | 4,954 | 0.0 | |||||||
| 2,185 | Ginnie Mae 2017-70 A, 2.500%, 10/16/2057 | 2,166 | 0.0 | |||||||
| 26,299 | Ginnie Mae 2017-86 AB, 2.300%, 11/16/2051 | 25,746 | 0.0 | |||||||
| 14,933 | Ginnie Mae 2017-89 A, 2.500%, 08/16/2057 | 14,738 | 0.0 | |||||||
| 2,934 | Ginnie Mae 2018-41 A, 2.400%, 09/16/2058 | 2,907 | 0.0 | |||||||
| 1,039,000 (2)(3) | GS Mortgage Securities Corp. Trust 2017-SLP E, 4.744%, 10/10/2032 | 1,027,978 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,000,000 (2)(3) | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL A, 6.638%, (TSFR1M + 1.541%), 05/15/2037 | $ | 999,754 | 0.2 | ||||||
| 330,000 (2) | Houston Galleria Mall Trust 2015- HGLR A1A2, 3.087%, 03/05/2037 | 325,879 | 0.0 | |||||||
| 4,000,000 (2)(3) | ILPT Commercial Mortgage Trust 2022- LPF2 A, 7.342%, (TSFR1M + 2.245%), 10/15/2039 | 4,002,498 | 0.6 | |||||||
| 360,000 (2) | JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT CFX, 4.950%, 07/05/2033 | 281,819 | 0.0 | |||||||
| 707,335 | JPMBB Commercial Mortgage Securities Trust 2015-C31 A3, 3.801%, 08/15/2048 | 697,834 | 0.1 | |||||||
| 1,500,000 (2)(3) | LBA Trust 2024-BOLT A, 6.688%, (TSFR1M + 1.591%), 06/15/2026 | 1,502,496 | 0.2 | |||||||
| 1,000,000 (2)(3) | Life Mortgage Trust 2022-BMR2 A1, 6.392%, (TSFR1M + 1.295%), 05/15/2039 | 973,913 | 0.2 | |||||||
| 1,000,000 (3) | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27 C, 4.635%, 12/15/2047 | 955,268 | 0.2 | |||||||
| 400,000 (2)(3) | MTN Commercial Mortgage Trust 2022- LPFL A, 6.497%, (TSFR1M + 1.397%), 03/15/2039 | 397,636 | 0.1 | |||||||
| 1,199,866 (2)(3) | PFP Ltd. 2023-10 A, 7.448%, (TSFR1M + 2.365%), 09/16/2038 | 1,207,925 | 0.2 | |||||||
| 2,000,000 (2)(3) | SMRT 2022-MINI F, 8.447%, (TSFR1M + 3.350%), 01/15/2039 | 1,893,466 | 0.3 | |||||||
| 1,900,000 (2) | THPT Mortgage Trust 2023-THL A, 7.227%, 12/10/2034 | 1,973,729 | 0.3 | |||||||
| 1,085,000 | Wells Fargo Commercial Mortgage Trust 2016-LC25 A4, 3.640%, 12/15/2059 | 1,061,537 | 0.2 | |||||||
| 2,000,000 (3) | WFRBS Commercial Mortgage Trust 2014-C21 B, 4.213%, 08/15/2047 | 1,936,750 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
144
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | |||||||||||
| 2,500,000 (2) | WSTN Trust 2023-MAUI A, 6.518%, 07/05/2037 | $ | 2,562,548 | 0.4 | |||||||
| Total Commercial Mortgage-Backed Securities (Cost $55,887,723) | 56,654,401 | 9.1 | |||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: 5.7% | |||||||||||
| 863,356 (2)(3) | Fannie Mae Connecticut Avenue Securities 2021-R01 1M2, 6.830%, (SOFR30A + 1.550%), 10/25/2041 | 867,295 | 0.2 | ||||||||
| 62,718 | Fannie Mae Interest Strip 404 8, 3.000%, 05/25/2040 | 58,694 | 0.0 | ||||||||
| 6,468 | Fannie Mae REMIC Trust 2010-54 LC, 3.000%, 04/25/2040 | 6,386 | 0.0 | ||||||||
| 216,784 | Fannie Mae REMIC Trust 2013-114 NA, 3.000%, 08/25/2032 | 213,429 | 0.0 | ||||||||
| 501,803 (3) | Fannie Mae REMIC Trust 2013-34 PF, 5.745%, (SOFR30A + 0.464%), 08/25/2042 | 499,122 | 0.1 | ||||||||
| 71,631 | Freddie Mac REMIC Trust 2103 TE, 6.000%, 12/15/2028 | 73,153 | 0.0 | ||||||||
| 705,812 (3) | Freddie Mac REMIC Trust 3049 XF, 5.807%, (SOFR30A + 0.464%), 05/15/2033 | 701,524 | 0.1 | ||||||||
| 3,298,992 (3) | Freddie Mac REMIC Trust 3114 PF, 5.857%, (SOFR30A + 0.514%), 02/15/2036 | 3,278,822 | 0.5 | ||||||||
| 5,041,751 (3) | Freddie Mac REMIC Trust 3136 FA, 6.007%, (SOFR30A + 0.664%), 04/15/2036 | 5,036,633 | 0.8 | ||||||||
| 970,868 (3) | Freddie Mac REMIC Trust 3153 UF, 5.887%, (SOFR30A + 0.544%), 05/15/2036 | 969,923 | 0.2 | ||||||||
| 380,787 (3) | Freddie Mac REMIC Trust 3255 FA, 5.737%, (SOFR30A + 0.394%), 12/15/2036 | 376,357 | 0.1 | ||||||||
| 20,816 (3) | Freddie Mac REMIC Trust 3747 FA, 5.957%, (SOFR30A + 0.614%), 10/15/2040 | 20,724 | 0.0 | ||||||||
| 483,048 (3) | Freddie Mac REMIC Trust 4879 DF, 5.857%, (SOFR30A + 0.514%), 08/15/2034 | 480,625 | 0.1 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,500,000 (2)(3) | Freddie Mac STACR REMIC Trust 2022- DNA2 M1B, 7.680%, (SOFR30A + 2.400%), 02/25/2042 | $ | 1,536,012 | 0.3 | ||||||
| 4,456,497 (3) | Freddie Mac Strips 406 F43, 6.080%, (SOFR30A + 0.800%), 10/25/2053 | 4,462,678 | 0.7 | |||||||
| 3,757,490 (3) | Freddie Mac Strips 406 F44, 6.280%, (SOFR30A + 1.000%), 10/25/2053 | 3,775,615 | 0.6 | |||||||
| 121,288 (3) | Ginnie Mae 2010-H03 FA, 5.940%, (TSFR1M + 0.664%), 03/20/2060 | 121,236 | 0.0 | |||||||
| 11,868 (3) | Ginnie Mae 2010-H10 FC, 6.462%, (TSFR1M + 1.114%), 05/20/2060 | 11,934 | 0.0 | |||||||
| 1,108,653 (3) | Ginnie Mae 2010-H11 FA, 6.390%, (TSFR1M + 1.114%), 06/20/2060 | 1,113,874 | 0.2 | |||||||
| 94,967 (3) | Ginnie Mae 2011-H03 FA, 5.967%, (TSFR1M + 0.614%), 01/20/2061 | 94,867 | 0.0 | |||||||
| 25,230 (3) | Ginnie Mae 2011-H05 FA, 5.967%, (TSFR1M + 0.614%), 12/20/2060 | 25,206 | 0.0 | |||||||
| 55,153 (3) | Ginnie Mae 2011-H05 FB, 5.967%, (TSFR1M + 0.614%), 12/20/2060 | 55,103 | 0.0 | |||||||
| 232,182 (3) | Ginnie Mae 2011-H06 FA, 5.917%, (TSFR1M + 0.564%), 02/20/2061 | 231,814 | 0.0 | |||||||
| 20,813 (3) | Ginnie Mae 2011-H07 FA, 5.967%, (TSFR1M + 0.614%), 02/20/2061 | 20,788 | 0.0 | |||||||
| 52,590 (3) | Ginnie Mae 2011-H08 FD, 5.967%, (TSFR1M + 0.614%), 02/20/2061 | 52,552 | 0.0 | |||||||
| 175,597 (3) | Ginnie Mae 2011-H08 FG, 5.947%, (TSFR1M + 0.594%), 03/20/2061 | 175,425 | 0.0 | |||||||
| 218,908 (3) | Ginnie Mae 2011-H09 AF, 5.967%, (TSFR1M + 0.614%), 03/20/2061 | 218,680 | 0.0 | |||||||
| 56,063 (3) | Ginnie Mae 2012-H18 NA, 5.987%, (TSFR1M + 0.634%), 08/20/2062 | 55,943 | 0.0 | |||||||
| 395,414 (3) | Ginnie Mae 2012-H23 WA, 5.987%, (TSFR1M + 0.634%), 10/20/2062 | 395,148 | 0.1 | |||||||
| 249,144 | Ginnie Mae 2014-3 EP, 2.750%, 02/16/2043 | 237,530 | 0.0 | |||||||
| 133,131 (3) | Ginnie Mae 2014-53 JM, 6.973%, 04/20/2039 | 141,740 | 0.0 | |||||||
| 2,742,271 (3) | Ginnie Mae 2015-H32 FH, 6.127%, (TSFR1M + 0.774%), 12/20/2065 | 2,745,651 | 0.5 | |||||||
See Accompanying Notes to Financial Statements
145
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | |||||||||||
| 2,572,129 (3) | Ginnie Mae 2016-H16 FE, 6.297%, (TSFR12M + 1.095%), 06/20/2066 | $ | 2,593,091 | 0.4 | |||||||
| 785,108 (3) | Ginnie Mae 2017-H06 FE, 6.017%, (TSFR1M + 0.664%), 02/20/2067 | 784,887 | 0.1 | ||||||||
| 467,363 (3) | Ginnie Mae 2017-H07 FG, 5.927%, (TSFR1M + 0.574%), 02/20/2067 | 466,558 | 0.1 | ||||||||
| 1,658,157 | Ginnie Mae 2023-86 DA, 5.500%, 08/20/2050 | 1,688,219 | 0.3 | ||||||||
| 946,632 (2)(3) | JP Morgan Mortgage Trust 2021-INV6 A5A, 2.500%, 04/25/2052 | 789,041 | 0.1 | ||||||||
| 1,031,236 | Seasoned Credit Risk Transfer Trust Series 2018-2 MA, 3.500%, 11/25/2057 | 1,007,125 | 0.2 | ||||||||
| Total Collateralized Mortgage Obligations (Cost $35,038,480) | 35,383,404 | 5.7 | |||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.0% | |||||||||||
| Federal Home Loan Mortgage Corporation: 0.0%(5) | |||||||||||
| 10,468 | 5.500%, 01/01/2037 | 10,889 | 0.0 | ||||||||
| 5,085 | 5.500%, 10/01/2038 | 5,277 | 0.0 | ||||||||
| 98,446 | 5.500%, 11/01/2038 | 101,644 | 0.0 | ||||||||
| 90,521 | 5.500%, 02/01/2039 | 94,312 | 0.0 | ||||||||
| 212,122 | 0.0 | ||||||||||
| Uniform Mortgage-Backed Securities: 0.0% | |||||||||||
| 74 | 5.000%, 03/01/2027 | 74 | 0.0 | ||||||||
| 72,001 | 5.000%, 05/01/2042 | 74,199 | 0.0 | ||||||||
| 74,273 | 0.0 | ||||||||||
| Total U.S. Government Agency Obligations (Cost $293,074) | 286,395 | 0.0 | |||||||||
| Total Long-Term Investments (Cost $570,567,711) | 575,208,864 | 92.9 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| SHORT-TERM INVESTMENTS: 10.5% | |||||||||||
| Commercial Paper: 2.8% | |||||||||||
| 2,500,000 | Agilent Technologies, 5.050%, 10/15/2024 | 2,494,840 | 0.4 | ||||||||
| 5,000,000 | Concord Minutemen Capital Co. LLC, 4.900%, 12/11/2024 | 4,952,280 | 0.8 | ||||||||
| 5,000,000 | Dominion Energy, Inc., 4.970%, 10/01/2024 | 4,999,320 | 0.8 | ||||||||
| 5,000,000 | Mondelez International, 5.000%, 10/02/2024 | 4,998,635 | 0.8 | ||||||||
| Total Commercial Paper (Cost $17,447,231) | 17,445,075 | 2.8 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Repurchase Agreements: 1.5% | ||||||||||
| 1,103,887 (6) | ASL Capital Markets, Inc., Repurchase Agreement dated 09/30/2024, 5.350%, due 10/01/2024 (Repurchase Amount $1,104,049, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.470%-7.000%, Market Value plus accrued interest $1,125,965, due 06/01/28-07/15/59) | $ | 1,103,887 | 0.2 | ||||||
| 2,591,341 (6) | Bethesda Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $2,591,696, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-7.026%, Market Value plus accrued interest $2,643,168, due 10/01/27-01/01/57) | 2,591,341 | 0.4 | |||||||
| 2,591,341 (6) | Cantor Fitzgerald Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $2,591,696, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.500%-7.408%, Market Value plus accrued interest $2,643,168, due 05/01/26-08/20/74) | 2,591,341 | 0.4 | |||||||
| 2,577,469 (6) | Marex Capital Markets Inc., Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $2,577,822, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.750%- 5.500%, Market Value plus accrued interest $2,629,018, due 07/15/28-09/01/54) | 2,577,469 | 0.4 | |||||||
See Accompanying Notes to Financial Statements
146
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| SHORT-TERM INVESTMENTS: (continued) | |||||||||||
| Repurchase Agreements (continued) | |||||||||||
| 529,003 (6) | National Bank Financial, Inc., Repurchase Agreement dated 09/30/2024, 4.900%, due 10/01/2024 (Repurchase Amount $529,074, collateralized by various U.S. Government Securities, 0.375%-5.000%, Market Value plus accrued interest $539,583, due 10/01/24-09/09/49) | $ | 529,003 | 0.1 | |||||||
| Total Repurchase Agreements (Cost $9,393,041) | 9,393,041 | 1.5 | |||||||||
| Time Deposits: 0.3% | |||||||||||
| 260,000 (6) | Canadian Imperial Bank of Commerce, 4.810%, 10/01/2024 | 260,000 | 0.1 | ||||||||
| 260,000 (6) | Landesbank Hessen Thueringen Girozentrale, 4.820%, 10/01/2024 | 260,000 | 0.0 | ||||||||
| 260,000 (6) | Mizuho Bank Ltd., 4.820%, 10/01/2024 | 260,000 | 0.1 | ||||||||
| 260,000 (6) | Royal Bank of Canada, 4.830%, 10/01/2024 | 260,000 | 0.1 | ||||||||
| 260,000 (6) | Skandinaviska Enskilda Banken AB, 4.810%, 10/01/2024 | 260,000 | 0.0 | ||||||||
| 260,000 (6) | Svenska Handelsbanken AB, 4.810%, 10/01/2024 | 260,000 | 0.0 | ||||||||
| Total Time Deposits (Cost $1,560,000) | 1,560,000 | 0.3 | |||||||||
| Shares | Value | Percentage of Net Assets | |||||||||
| Mutual Funds: 5.9% | |||||||||||
| 36,605,000 (7) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $36,605,000) | $ | 36,605,000 | 5.9 | |||||||
| Total Short-Term Investments (Cost $65,005,272) | 65,003,116 | 10.5 | |||||||||
| Total Investments in Securities (Cost $635,572,983) | $ | 640,211,980 | 103.4 | ||||||||
| Liabilities in Excess of Other Assets | (21,173,838 | ) | (3.4 | ) | |||||||
| Net Assets | $ | 619,038,142 | 100.0 | ||||||||
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | Security, or a portion of the security, is on loan. |
| (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) | Variable rate security. Rate shown is the rate in effect as of September 30, 2024. |
| (4) | 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. |
| (5) | 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. |
| (6) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (7) | Rate shown is the 7-day yield as of September 30, 2024. |
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
147
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||
| Asset Table | ||||||||||||
| Investments, at fair value | ||||||||||||
| Corporate Bonds/Notes | $ | — | $ | 253,557,135 | $ | — | $ | 253,557,135 | ||||
| U.S. Treasury Obligations | — | 131,650,900 | — | 131,650,900 | ||||||||
| Asset-Backed Securities | — | 97,676,629 | — | 97,676,629 | ||||||||
| Commercial Mortgage-Backed Securities | — | 56,654,401 | — | 56,654,401 | ||||||||
| Collateralized Mortgage Obligations | — | 35,383,404 | — | 35,383,404 | ||||||||
| U.S. Government Agency Obligations | — | 286,395 | — | 286,395 | ||||||||
| Short-Term Investments | 36,605,000 | 28,398,116 | — | 65,003,116 | ||||||||
| Total Investments, at fair value | $ | 36,605,000 | $ | 603,606,980 | $ | — | $ | 640,211,980 | ||||
| Other Financial Instruments+ | ||||||||||||
| Futures | 378,505 | — | — | 378,505 | ||||||||
| Total Assets | $ | 36,983,505 | $ | 603,606,980 | $ | — | $ | 640,590,485 | ||||
| Liabilities Table | ||||||||||||
| Other Financial Instruments+ | ||||||||||||
| Futures | $ | (23,982) | $ | — | $ | — | $ | (23,982) | ||||
| Total Liabilities | $ | (23,982) | $ | — | $ | — | $ | (23,982) | ||||
| ^ | 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. |
At September 30, 2024, the following futures contracts were outstanding for Voya Short Duration Bond Fund:
| Description | Number of Contracts | Expiration Date | Notional Amount | Unrealized Appreciation/ (Depreciation) | |||||||
| Long Contracts: | |||||||||||
| U.S. Treasury 2-Year Note | 1,172 | 12/31/24 | $ | 244,059,843 | $ | 368,538 | |||||
| U.S. Treasury Ultra Long Bond | 5 | 12/19/24 | 665,469 | (4,915) | |||||||
| $ | 244,725,312 | $ | 363,623 | ||||||||
| Short Contracts: | |||||||||||
| U.S. Treasury 5-Year Note | (515 | ) | 12/31/24 | (56,589,648) | (19,067) | ||||||
| U.S. Treasury 10-Year Note | (17 | ) | 12/19/24 | (1,942,781) | 170 | ||||||
| U.S. Treasury Long Bond | (13 | ) | 12/19/24 | (1,614,438) | 7,793 | ||||||
| U.S. Treasury Ultra 10-Year Note | (14 | ) | 12/19/24 | (1,656,156) | 2,004 | ||||||
| $ | (61,803,023) | $ | (9,100) | ||||||||
See Accompanying Notes to Financial Statements
148
| Voya Short Duration Bond Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of September 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | |||
| Asset Derivatives | |||||
| Interest rate contracts | Variation margin receivable on futures contracts* | $ | 378,505 | ||
| Total Asset Derivatives | $ | 378,505 | |||
| Liability Derivatives | |||||
| Interest rate contracts | Variation margin payable on futures contracts* | $ | 23,982 | ||
| Total Liability Derivatives | $ | 23,982 | |||
| * | 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 Fund's Statement of Operations for the period ended September 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | Swaps | Written options | Total | |||||||||||
| Credit contracts | $ | — | $ | 279,486 | $ | — | $ | 279,486 | |||||||
| Equity contracts | 75,495 | — | — | 75,495 | |||||||||||
| Interest rate contracts | (52,615 | ) | — | 185,596 | 132,981 | ||||||||||
| Total | $ | 22,880 | $ | 279,486 | $ | 185,596 | $ | 487,962 | |||||||
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | ||
| Interest rate contracts | $ | 686,403 | |
| Total | $ | 686,403 | |
At September 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 $635,273,366. | ||||
| Net unrealized appreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 6,660,083 | ||
| Gross Unrealized Depreciation | (1,366,946 | ) | ||
| Net Unrealized Appreciation | $ | 5,293,137 | ||
See Accompanying Notes to Financial Statements
149
| Voya Short Duration High Income Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: 88.8% | |||||||||
| Basic Materials: 2.4% | |||||||||
| 1,000,000 | Cleveland-Cliffs, Inc., 5.875%, 06/01/2027 | $ | 1,003,156 | 0.5 | |||||
| 3,000,000 (1)(2) | Cleveland-Cliffs, Inc., 6.750%, 04/15/2030 | 3,054,298 | 1.7 | ||||||
| 400,000 (1) | INEOS Quattro Finance 2 PLC, 9.625%, 03/15/2029 | 428,031 | 0.2 | ||||||
| 4,485,485 | 2.4 | ||||||||
| Communications: 12.3% | |||||||||
| 1,600,000 (1) | Gen Digital, Inc., 6.750%, 09/30/2027 | 1,645,207 | 0.9 | ||||||
| 1,750,000 (1) | ION Trading Technologies Sarl, 9.500%, 05/30/2029 | 1,793,460 | 1.0 | ||||||
| 3,900,000 (1) | Millennium Escrow Corp., 6.625%, 08/01/2026 | 2,456,505 | 1.3 | ||||||
| 3,000,000 | Sprint LLC, 7.625%, 02/15/2025 | 3,011,460 | 1.6 | ||||||
| 1,000,000 (1) | Summer BC Bidco B LLC, 5.500%, 10/31/2026 | 988,696 | 0.6 | ||||||
| 550,000 (1) | Townsquare Media, Inc., 6.875%, 02/01/2026 | 549,290 | 0.3 | ||||||
| 2,000,000 (1) | Uber Technologies, Inc., 7.500%, 09/15/2027 | 2,040,574 | 1.1 | ||||||
| 5,500,000 (1) | Uber Technologies, Inc., 8.000%, 11/01/2026 | 5,513,640 | 3.0 | ||||||
| 500,000 (1) | Univision Communications, Inc., 6.625%, 06/01/2027 | 501,964 | 0.3 | ||||||
| 3,950,000 (1) | Univision Communications, Inc., 8.000%, 08/15/2028 | 4,041,877 | 2.2 | ||||||
| 22,542,673 | 12.3 | ||||||||
| Consumer, Cyclical: 24.4% | |||||||||
| 1,000,000 (1) | Aramark Services, Inc., 5.000%, 02/01/2028 | 997,769 | 0.5 | ||||||
| 4,000,000 (1) | Caesars Entertainment, Inc., 8.125%, 07/01/2027 | 4,084,864 | 2.2 | ||||||
| 1,000,000 (1) | Delta Air Lines, Inc., 7.000%, 05/01/2025 | 1,010,754 | 0.6 | ||||||
| 1,400,000 (1) | Dream Finders Homes, Inc., 8.250%, 08/15/2028 | 1,480,731 | 0.8 | ||||||
| 3,000,000 (1) | eG Global Finance PLC, 12.000%, 11/30/2028 | 3,351,093 | 1.8 | ||||||
| 500,000 (1) | Gates Corp., 6.875%, 07/01/2029 | 518,552 | 0.3 | ||||||
| 2,000,000 (1) | Genting New York LLC / GENNY Capital, Inc., 7.250%, 10/01/2029 | 2,025,398 | 1.1 | ||||||
| 5,000,000 (1) | Global Auto Holdings Ltd./AAG FH UK Ltd., 8.375%, 01/15/2029 | 4,840,833 | 2.6 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Cyclical: (continued) | |||||||||
| 1,938,000 | Goodyear Tire & Rubber Co., 9.500%, 05/31/2025 | $ | 1,947,035 | 1.1 | |||||
| 1,500,000 (1) | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 1,527,579 | 0.8 | ||||||
| 4,000,000 (1) | JetBlue Airways Corp. / JetBlue Loyalty L.P., 9.875%, 09/20/2031 | 4,217,160 | 2.3 | ||||||
| 1,500,000 (1) | LGI Homes, Inc., 8.750%, 12/15/2028 | 1,607,312 | 0.9 | ||||||
| 1,000,000 | Marriott International, Inc. EE, 5.750%, 05/01/2025 | 1,003,580 | 0.5 | ||||||
| 2,000,000 | MGM Resorts International, 6.125%, 09/15/2029 | 2,026,313 | 1.1 | ||||||
| 2,200,000 (1) | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd., 6.500%, 06/20/2027 | 2,229,005 | 1.2 | ||||||
| 822,000 (1) | Six Flags Theme Parks, Inc., 7.000%, 07/01/2025 | 824,376 | 0.5 | ||||||
| 750,000 (1) | Velocity Vehicle Group LLC, 8.000%, 06/01/2029 | 781,602 | 0.4 | ||||||
| 1,500,000 (1) | Victra Holdings LLC / Victra Finance Corp., 8.750%, 09/15/2029 | 1,576,269 | 0.9 | ||||||
| 1,500,000 (1)(2) | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 7.875%, 05/01/2027 | 1,465,465 | 0.8 | ||||||
| 6,750,000 (1)(2) | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 9.500%, 06/01/2028 | 6,603,814 | 3.6 | ||||||
| 750,000 (1) | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.250%, 05/15/2027 | 751,084 | 0.4 | ||||||
| 44,870,588 | 24.4 | ||||||||
| Consumer, Non-cyclical: 8.1% | |||||||||
| 1,000,000 (1) | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 6.125%, 10/15/2026 | 1,004,105 | 0.6 | ||||||
| 2,450,000 (1)(2) | Albion Financing 2SARL, 8.750%, 04/15/2027 | 2,516,429 | 1.4 | ||||||
| 750,000 (1) | Brink's Co., 6.500%, 06/15/2029 | 777,635 | 0.4 | ||||||
| 4,000,000 (1)(2) | Champions Financing, Inc., 8.750%, 02/15/2029 | 4,077,576 | 2.2 | ||||||
See Accompanying Notes to Financial Statements
150
| Voya Short Duration High Income Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Consumer, Non-cyclical: (continued) | |||||||||
| 1,300,000 | HCA, Inc., 5.875%, 02/15/2026 | $ | 1,313,945 | 0.7 | |||||
| 3,500,000 (1) | Mobius Merger Sub, Inc., 9.000%, 06/01/2030 | 3,370,895 | 1.8 | ||||||
| 406,263 (1)(3) | Radiology Partners, Inc., 7.775% (PIK Rate 3.500%, Cash Rate 4.275%), 01/31/2029 | 403,724 | 0.2 | ||||||
| 1,400,000 (1) | WASH Multifamily Acquisition, Inc., 5.750%, 04/15/2026 | 1,393,669 | 0.8 | ||||||
| 14,857,978 | 8.1 | ||||||||
| Energy: 16.3% | |||||||||
| 3,000,000 (1) | Buckeye Partners L.P., 6.875%, 07/01/2029 | 3,076,260 | 1.7 | ||||||
| 2,993,000 (1) | CITGO Petroleum Corp., 7.000%, 06/15/2025 | 2,996,581 | 1.6 | ||||||
| 600,000 (1) | CITGO Petroleum Corp., 8.375%, 01/15/2029 | 624,811 | 0.3 | ||||||
| 1,250,000 (1) | CVR Energy, Inc., 5.750%, 02/15/2028 | 1,174,901 | 0.6 | ||||||
| 2,500,000 (1) | CVR Energy, Inc., 8.500%, 01/15/2029 | 2,529,180 | 1.4 | ||||||
| 1,050,000 (1) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 1,052,030 | 0.6 | ||||||
| 1,500,000 (1) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 1,579,404 | 0.9 | ||||||
| 1,500,000 | Genesis Energy L.P. / Genesis Energy Finance Corp., 8.250%, 01/15/2029 | 1,554,660 | 0.8 | ||||||
| 500,000 | Global Partners L.P. / GLP Finance Corp., 6.875%, 01/15/2029 | 502,911 | 0.3 | ||||||
| 1,000,000 | Global Partners L.P. / GLP Finance Corp., 7.000%, 08/01/2027 | 1,007,541 | 0.6 | ||||||
| 1,500,000 | HF Sinclair Corp., 6.375%, 04/15/2027 | 1,521,203 | 0.8 | ||||||
| 675,000 (1) | Martin Midstream Partners L.P. / Martin Midstream Finance Corp., 11.500%, 02/15/2028 | 743,716 | 0.4 | ||||||
| 2,000,000 (1)(2) | New Fortress Energy, Inc., 6.500%, 09/30/2026 | 1,682,385 | 0.9 | ||||||
| 649,000 (1) | New Fortress Energy, Inc., 6.750%, 09/15/2025 | 622,278 | 0.3 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||
| Energy: (continued) | |||||||||
| 4,500,000 (1)(2) | New Fortress Energy, Inc., 8.750%, 03/15/2029 | $ | 3,391,714 | 1.8 | |||||
| 1,100,000 (1) | Sunnova Energy Corp., 5.875%, 09/01/2026 | 1,027,980 | 0.6 | ||||||
| 4,500,000 (1) | Sunnova Energy Corp., 11.750%, 10/01/2028 | 4,312,670 | 2.3 | ||||||
| 625,000 (1) | Sunoco L.P. / Sunoco Finance Corp., 7.000%, 09/15/2028 | 648,239 | 0.4 | ||||||
| 30,048,464 | 16.3 | ||||||||
| Financial: 17.8% | |||||||||
| 1,100,000 (1) | Avolon Holdings Funding Ltd., 6.375%, 05/04/2028 | 1,151,051 | 0.6 | ||||||
| 365,000 (1) | Bread Financial Holdings, Inc., 7.000%, 01/15/2026 | 363,829 | 0.2 | ||||||
| 200,000 (1) | Castlelake Aviation Finance DAC, 5.000%, 04/15/2027 | 201,246 | 0.1 | ||||||
| 1,000,000 (1) | Freedom Mortgage Corp., 12.000%, 10/01/2028 | 1,093,257 | 0.6 | ||||||
| 4,250,000 (1) | Freedom Mortgage Holdings LLC, 9.250%, 02/01/2029 | 4,421,173 | 2.4 | ||||||
| 4,250,000 (1) | Global Aircraft Leasing Co. Ltd., 8.750%, 09/01/2027 | 4,337,975 | 2.4 | ||||||
| 4,750,000 (1)(2) | HAT Holdings I LLC / HAT Holdings II LLC, 8.000%, 06/15/2027 | 5,038,002 | 2.7 | ||||||
| 250,000 (1) | Iron Mountain, Inc., 7.000%, 02/15/2029 | 260,781 | 0.1 | ||||||
| 5,457,000 (1) | LD Holdings Group LLC, 6.125%, 04/01/2028 | 4,833,597 | 2.6 | ||||||
| 998,000 (1) | LD Holdings Group LLC, 8.750%, 11/01/2027 | 969,413 | 0.5 | ||||||
| 750,000 (1) | Macquarie Airfinance Holdings Ltd., 8.375%, 05/01/2028 | 789,086 | 0.4 | ||||||
| 2,700,000 (2) | Nasdaq, Inc., 5.650%, 06/28/2025 | 2,716,908 | 1.5 | ||||||
| 1,000,000 (1) | Nationstar Mortgage Holdings, Inc., 6.500%, 08/01/2029 | 1,017,663 | 0.6 | ||||||
| 750,000 (1) | PennyMac Financial Services, Inc., 5.375%, 10/15/2025 | 749,364 | 0.4 | ||||||
| 500,000 (1) | PennyMac Financial Services, Inc., 7.125%, 11/15/2030 | 518,101 | 0.3 | ||||||
| 750,000 (1) | PennyMac Financial Services, Inc., 7.875%, 12/15/2029 | 800,402 | 0.4 | ||||||
See Accompanying Notes to Financial Statements
151
| Voya Short Duration High Income Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||||
| Financial: (continued) | |||||||||||
| 2,500,000 (1) | Provident Funding Associates L.P. / PFG Finance Corp., 9.750%, 09/15/2029 | $ | 2,549,246 | 1.4 | |||||||
| 250,000 (1) | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 261,816 | 0.2 | ||||||||
| 500,000 | SLM Corp., 4.200%, 10/29/2025 | 494,705 | 0.3 | ||||||||
| 250,000 (1) | United Wholesale Mortgage LLC, 5.500%, 11/15/2025 | 249,740 | 0.1 | ||||||||
| 32,817,355 | 17.8 | ||||||||||
| Industrial: 2.1% | |||||||||||
| 800,000 (1) | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 832,709 | 0.5 | ||||||||
| 1,500,000 (1) | Esab Corp., 6.250%, 04/15/2029 | 1,542,462 | 0.8 | ||||||||
| 400,000 (1) | Fortress Transportation and Infrastructure Investors LLC, 9.750%, 08/01/2027 | 410,277 | 0.2 | ||||||||
| 1,000,000 | Hillenbrand, Inc., 6.250%, 02/15/2029 | 1,018,865 | 0.6 | ||||||||
| 3,804,313 | 2.1 | ||||||||||
| Technology: 2.9% | |||||||||||
| 586,000 (1) | Consensus Cloud Solutions, Inc., 6.000%, 10/15/2026 | 584,924 | 0.3 | ||||||||
| 4,700,000 (1)(2) | Consensus Cloud Solutions, Inc., 6.500%, 10/15/2028 | 4,702,969 | 2.6 | ||||||||
| 5,287,893 | 2.9 | ||||||||||
| Utilities: 2.5% | |||||||||||
| 3,000,000 (1) | AmeriGas Partners L.P. / AmeriGas Finance Corp., 9.375%, 06/01/2028 | 3,152,955 | 1.7 | ||||||||
| 1,500,000 (1) | Calpine Corp., 5.250%, 06/01/2026 | 1,495,274 | 0.8 | ||||||||
| 4,648,229 | 2.5 | ||||||||||
| Total Corporate Bonds/ Notes (Cost $160,110,920) | 163,362,978 | 88.8 | |||||||||
| BANK LOANS: 10.2% | |||||||||||
| Consumer, Cyclical: 3.8% | |||||||||||
| 3,979,670 | Hunter Douglas Holding BV, Tranche B-1 Term Loans, 8.571%, (TSFR1M+3.500%), 02/26/2029 | 3,956,930 | 2.2 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 2,984,962 (4) | Seaworld Parks & Entertainment, Inc., 08/25/2028 | $ | 2,984,962 | 1.6 | ||||||
| 6,941,892 | 3.8 | |||||||||
| Consumer, Non-cyclical: 1.9% | ||||||||||
| 3,500,000 (4) | Medline Borrower, LP, 10/23/2028 | 3,500,000 | 1.9 | |||||||
| Financial: 4.5% | ||||||||||
| 7,000,000 | Asurion, LLC, 2021 Second Lien Term Loan B4, 8.840%, (TSFR1M+3.500%), 01/20/2029 | 6,495,237 | 3.5 | |||||||
| 1,990,000 (4) | MoneyGram International, Inc., 06/01/2030 | 1,904,182 | 1.0 | |||||||
| 8,399,419 | 4.5 | |||||||||
| Total Bank Loans (Cost $18,942,995) | 18,841,311 | 10.2 | ||||||||
| Total Long-Term Investments (Cost $179,053,915) | 182,204,289 | 99.0 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| SHORT-TERM INVESTMENTS: 13.7% | |||||||||
| Repurchase Agreements: 8.3% | |||||||||
| 2,635,255 (5) | ASL Capital Markets, Inc., Repurchase Agreement dated 09/30/2024, 5.350%, due 10/01/2024 (Repurchase Amount $2,635,641, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.470%-7.000%, Market Value plus accrued interest $2,687,960, due 06/01/28-07/15/59) | 2,635,255 | 1.4 | ||||||
See Accompanying Notes to Financial Statements
152
| Voya Short Duration High Income Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| SHORT-TERM INVESTMENTS: (continued) | |||||||||
| Repurchase Agreements (continued) | |||||||||
| 3,595,631 (5) | Cantor Fitzgerald Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $3,596,124, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.500%-7.408%, Market Value plus accrued interest $3,667,544, due 05/01/26-08/20/74) | $ | 3,595,631 | 2.0 | |||||
| 3,595,631 (5) | CF Secured LLC, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $3,596,124, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.070%, Market Value plus accrued interest $3,667,544, due 05/15/27-07/20/73) | 3,595,631 | 2.0 | ||||||
| 1,425,180 (5) | Clear Street LLC, Repurchase Agreement dated 09/30/2024, 5.020%, due 10/01/2024 (Repurchase Amount $1,425,376, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $1,453,548, due 07/31/25-08/01/54) | 1,425,180 | 0.8 | ||||||
| 3,595,631 (5) | Marex Capital Markets Inc., Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $3,596,124, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.750%-5.500%, Market Value plus accrued interest $3,667,544, due 07/15/28-09/01/54) | 3,595,631 | 1.9 | ||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||
| SHORT-TERM INVESTMENTS: (continued) | |||||||||
| Repurchase Agreements (continued) | |||||||||
| 349,118 (5) | RBC Dominion Securities, Inc., Repurchase Agreement dated 09/30/2024, 4.860%, due 10/01/2024 (Repurchase Amount $349,164, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $356,100, due 10/31/24-09/20/54) | $ | 349,118 | 0.2 | |||||
| Total Repurchase Agreements (Cost $15,196,446) | 15,196,446 | 8.3 | |||||||
| Shares | Value | Percentage of Net | ||||||||
| Mutual Funds: 5.4% | ||||||||||
| 9,943,648 (6) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $9,943,648) | $ | 9,943,648 | 5.4 | ||||||
| Total Short-Term Investments (Cost $25,140,094) | 25,140,094 | 13.7 | ||||||||
| Total Investments in Securities (Cost $204,194,009) | $ | 207,344,383 | 112.7 | |||||||
| Liabilities in Excess of Other Assets | (23,375,727 | ) | (12.7 | ) | ||||||
| Net Assets | $ | 183,968,656 | 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) | Security, or a portion of the security, is on loan. |
| (3) | All or a portion of this security is payment-in-kind (“PIK”) which may pay interest or additional principal at the issuer’s discretion. Rates shown are the current rate and possible payment rates. |
| (4) | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| (5) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (6) | Rate shown is the 7-day yield as of September 30, 2024. |
Reference Rate Abbreviations:
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
See Accompanying Notes to Financial Statements
153
| Voya Short Duration High Income Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||
| Asset Table | ||||||||||||
| Investments, at fair value | ||||||||||||
| Corporate Bonds/Notes | $ | — | $ | 163,362,978 | $ | — | $ | 163,362,978 | ||||
| Bank Loans | — | 18,841,311 | — | 18,841,311 | ||||||||
| Short-Term Investments | 9,943,648 | 15,196,446 | — | 25,140,094 | ||||||||
| Total Investments, at fair value | $ | 9,943,648 | $ | 197,400,735 | $ | — | $ | 207,344,383 | ||||
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
At September 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 $204,194,009. | ||||
| Net unrealized appreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 4,999,111 | ||
| Gross Unrealized Depreciation | (1,848,737 | ) | ||
| Net Unrealized Appreciation | $ | 3,150,374 | ||
See Accompanying Notes to Financial Statements
154
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: 26.2% | ||||||||||
| 169,092 (1) | Adjustable Rate Mortgage Trust 2006-2 1A1, 4.792%, 05/25/2036 | $ | 149,362 | 0.0 | ||||||
| 877,618 (1)(2) | Agate Bay Mortgage Trust 2015-2 B3, 3.620%, 03/25/2045 | 814,644 | 0.0 | |||||||
| 475,938 (1)(2) | Agate Bay Mortgage Trust 2015-4 B3, 3.500%, 06/25/2045 | 387,758 | 0.0 | |||||||
| 1,325,633 (1)(2) | Agate Bay Mortgage Trust 2016-1 B3, 3.643%, 12/25/2045 | 1,186,518 | 0.1 | |||||||
| 1,000,000 (1)(2) | Agate Bay Mortgage Trust 2016-1 B4, 3.643%, 12/25/2045 | 776,321 | 0.0 | |||||||
| 1,137,085 (1)(2) | Agate Bay Mortgage Trust 2016-2 B4, 3.755%, 03/25/2046 | 889,388 | 0.0 | |||||||
| 3,089,000 (1)(2) | Ajax Mortgage Loan Trust 2019-D A2, 3.500%, 09/25/2065 | 2,910,314 | 0.1 | |||||||
| 4,234,000 (1)(2) | Ajax Mortgage Loan Trust 2019-F A2, 3.500%, 07/25/2059 | 4,071,614 | 0.2 | |||||||
| 284,232 (1) | Alternative Loan Trust 2004-J7 M1, 4.994%, (TSFR1M + 1.134%), 10/25/2034 | 279,145 | 0.0 | |||||||
| 273,521 (1) | Alternative Loan Trust 2005-10CB 1A2, 5.419%, (TSFR1M + 0.564%), 05/25/2035 | 205,302 | 0.0 | |||||||
| 280,881 | Alternative Loan Trust 2005-23CB A15, 5.500%, 07/25/2035 | 232,547 | 0.0 | |||||||
| 17,490 (1) | Alternative Loan Trust 2005-53T2 2A6, 5.469%, (TSFR1M + 0.614%), 11/25/2035 | 9,370 | 0.0 | |||||||
| 154,590 (1) | Alternative Loan Trust 2005-J2 1A12, 5.369%, (TSFR1M + 0.514%), 04/25/2035 | 117,529 | 0.0 | |||||||
| 30,038 | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | 15,282 | 0.0 | |||||||
| 450,884 (1) | Alternative Loan Trust 2006-18CB A10, 5.369%, (TSFR1M + 0.514%), 07/25/2036 | 174,285 | 0.0 | |||||||
| 106,102 (1) | Alternative Loan Trust 2006-19CB A12, 5.369%, (TSFR1M + 0.514%), 08/25/2036 | 47,081 | 0.0 | |||||||
| 449,317 (1) | Alternative Loan Trust 2006-19CB A28, 5.569%, (TSFR1M + 0.714%), 08/25/2036 | 206,536 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 772,971 | Alternative Loan Trust 2006-27CB A5, 6.000%, 11/25/2036 | $ | 427,744 | 0.0 | ||||||
| 217,884 (1) | Alternative Loan Trust 2006-HY11 A1, 5.209%, (TSFR1M + 0.354%), 06/25/2036 | 194,572 | 0.0 | |||||||
| 793,476 | Alternative Loan Trust 2007-15CB A5, 5.750%, 07/25/2037 | 462,236 | 0.0 | |||||||
| 115,400 (1) | Alternative Loan Trust 2007-2CB 2A1, 5.569%, (TSFR1M + 0.714%), 03/25/2037 | 48,201 | 0.0 | |||||||
| 150,799 (1) | Alternative Loan Trust 2007-HY8C A1, 5.289%, (TSFR1M + 0.434%), 09/25/2047 | 139,387 | 0.0 | |||||||
| 478,585 (1) | Alternative Loan Trust 2007-OA4 A1, 5.309%, (TSFR1M + 0.454%), 05/25/2047 | 417,923 | 0.0 | |||||||
| 367,898 (1)(2) | Arroyo Mortgage Trust 2019-3 A3, 3.416%, 10/25/2048 | 353,348 | 0.0 | |||||||
| 247,217 (1) | Banc of America Funding Trust 2007-2 1A16, 5.569%, (TSFR1M + 0.714%), 03/25/2037 | 180,394 | 0.0 | |||||||
| 1,160,409 (1) | Banc of America Funding Trust 2007-C 7A1, 5.495%, (TSFR1M + 0.534%), 05/20/2047 | 1,053,344 | 0.1 | |||||||
| 92,177 (1) | Bear Stearns ALT-A Trust 2005-3 4A3, 4.590%, 04/25/2035 | 90,191 | 0.0 | |||||||
| 356,825 (1) | Bear Stearns ALT-A Trust 2006-6 31A1, 4.654%, 11/25/2036 | 197,825 | 0.0 | |||||||
| 521,592 (1) | Bear Stearns ALT-A Trust 2006-6 32A1, 5.080%, 11/25/2036 | 269,867 | 0.0 | |||||||
| 71,910 (1) | Bear Stearns Structured Products, Inc. Trust 2007-R6 1A1, 5.515%, 01/26/2036 | 53,429 | 0.0 | |||||||
| 2,100,000 (1)(2) | Bellemeade RE Ltd. 2021-3A M1C, 6.830%, (SOFR30A + 1.550%), 09/25/2031 | 2,114,256 | 0.1 | |||||||
| 2,000,000 (2)(3) | Brean Asset Backed Securities Trust 2024-RM9 A1, 5.000%, 09/25/2064 | 1,959,375 | 0.1 | |||||||
| 893,635 (1)(2) | Chase Home Lending Mortgage Trust 2019-1 B2, 3.886%, 03/25/2050 | 802,038 | 0.0 | |||||||
| 1,162,458 (1)(2) | Chase Home Lending Mortgage Trust 2019-1 B3, 3.886%, 03/25/2050 | 1,031,866 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
155
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 113,740 (1)(2) | Chase Home Lending Mortgage Trust 2019-ATR2 A3, 3.500%, 07/25/2049 | $ | 104,964 | 0.0 | ||||||
| 2,000,000 (1)(2) | Chase Home Lending Mortgage Trust 2024-8 B3, 7.134%, 08/25/2055 | 2,078,106 | 0.1 | |||||||
| 830,018 (1)(2) | Chase Home Lending Mortgage Trust Series 2024-1 A9, 6.500%, 01/25/2055 | 839,745 | 0.0 | |||||||
| 1,912,026 (1)(2) | Chase Home Lending Mortgage Trust Series 2024-4 A9, 6.000%, 03/25/2055 | 1,921,527 | 0.1 | |||||||
| 2,577,366 (1)(2) | Chase Home Lending Mortgage Trust Series 2024-4 B2, 6.237%, 03/25/2055 | 2,610,765 | 0.1 | |||||||
| 1,814,291 (1)(2) | Chase Home Lending Mortgage Trust Series 2024-4 B3, 6.237%, 03/25/2055 | 1,794,699 | 0.1 | |||||||
| 997,028 (1)(2) | Chase Home Lending Mortgage Trust Series 2024-6 B3, 7.139%, 05/25/2055 | 1,042,269 | 0.1 | |||||||
| 246,021 (1) | Chase Mortgage Finance Trust Series 2006-A1 2A3, 5.822%, 09/25/2036 | 215,278 | 0.0 | |||||||
| 208,280 (1) | CHL Mortgage Pass-Through Trust 2005-HYB9 2A1, 7.210%, (TSFR12M + 2.465%), 02/20/2036 | 189,945 | 0.0 | |||||||
| 1,563,177 (1)(2) | CHNGE Mortgage Trust 2022-1 A1, 3.007%, 01/25/2067 | 1,483,148 | 0.1 | |||||||
| 100,300 (1)(2) | CIM Trust 2019-INV1 A1, 4.000%, 02/25/2049 | 96,911 | 0.0 | |||||||
| 134,669 (1)(2) | CIM Trust 2019-INV2 A3, 4.000%, 05/25/2049 | 128,526 | 0.0 | |||||||
| 143,599 (1)(2) | CIM Trust 2019-INV3 A15, 3.500%, 08/25/2049 | 132,357 | 0.0 | |||||||
| 215,398 (1)(2) | CIM Trust 2019-INV3 A3, 3.500%, 08/25/2049 | 198,535 | 0.0 | |||||||
| 1,508,118 (1)(2) | CIM Trust 2019-J1 B3, 3.934%, 08/25/2049 | 1,383,303 | 0.1 | |||||||
| 2,865,480 (1)(2) | CIM Trust 2019-J2 B2, 3.764%, 10/25/2049 | 2,598,698 | 0.1 | |||||||
| 1,800,967 (1)(2) | CIM Trust 2019-J2 B3, 3.764%, 10/25/2049 | 1,613,309 | 0.1 | |||||||
| 1,171,160 (1)(2) | CIM Trust 2020-J2 B3, 2.754%, 01/25/2051 | 946,025 | 0.1 | |||||||
| 1,744,333 (1)(2) | CIM Trust 2021-J3 B3, 2.616%, 06/25/2051 | 1,377,045 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 353,466 | Citicorp Mortgage Securities Trust Series 2006-3 1A4, 6.000%, 06/25/2036 | $ | 323,429 | 0.0 | ||||||
| 63,399 (1) | Citigroup Mortgage Loan Trust 2006-AR2 1A1, 5.594%, 03/25/2036 | 49,289 | 0.0 | |||||||
| 27,160 (1) | Citigroup Mortgage Loan Trust 2006-AR9 2A, 5.813%, 11/25/2036 | 24,151 | 0.0 | |||||||
| 169,349 (1)(2) | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | 165,191 | 0.0 | |||||||
| 2,596,378 (2) | Citigroup Mortgage Loan Trust 2024-1 B3, 6.826%, 07/25/2054 | 2,656,181 | 0.1 | |||||||
| 40,687 (1) | Citigroup Mortgage Loan Trust, Inc. 2005-4 A, 6.887%, 08/25/2035 | 40,616 | 0.0 | |||||||
| 161,547 | Citigroup Mortgage Loan Trust, Inc. 2005-9 22A2, 6.000%, 11/25/2035 | 163,971 | 0.0 | |||||||
| 673,793 (1)(2) | Connecticut Avenue Securities Trust 2019-R05 1B1, 9.495%, (SOFR30A + 4.214%), 07/25/2039 | 702,829 | 0.0 | |||||||
| 1,700,000 (1)(2) | Connecticut Avenue Securities Trust 2020-SBT1 1M2, 9.045%, (SOFR30A + 3.764%), 02/25/2040 | 1,799,230 | 0.1 | |||||||
| 272,059 | CSMC Mortgage-Backed Trust 2007-2 3A6, 5.400%, 03/25/2037 | 129,054 | 0.0 | |||||||
| 390,478 (1)(2) | CSMC Trust 2013-7 A11, 3.500%, 08/25/2043 | 364,006 | 0.0 | |||||||
| 243,967 (1)(2) | CSMC Trust 2017-HL1 A12, 3.500%, 06/25/2047 | 224,776 | 0.0 | |||||||
| 1,316,771 (1)(2) | CSMC Trust 2019-AFC1 A3, 3.877%, 07/25/2049 | 1,282,048 | 0.1 | |||||||
| 2,969,575 (1)(2) | CSMC Trust 2021-AFC1 M1, 2.193%, 03/25/2056 | 2,007,058 | 0.1 | |||||||
| 4,936,014 (2) | Deephaven Residential Mortgage Trust 2022-2 A1, 4.300%, 03/25/2067 | 4,832,690 | 0.2 | |||||||
| 336,291 (1) | Deutsche Alt-B Securities Mortgage Loan Trust Series 2007-AB1 A1, 5.269%, (TSFR1M + 0.414%), 04/25/2037 | 230,721 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
156
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 74,447 (1)(2) | Deutsche Mortgage Securities, Inc. Re-REMIC Trust Certificates Series 2007-WM1 A1, 4.542%, 06/27/2037 | $ | 65,752 | 0.0 | ||||||
| 799,543 (1)(2) | Ellington Financial Mortgage Trust 2022-2 A1, 4.299%, 04/25/2067 | 792,911 | 0.0 | |||||||
| 3,540,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 8.395%, (SOFR30A + 3.114%), 01/25/2040 | 3,628,951 | 0.2 | |||||||
| 3,898,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2020-SBT1 2M2, 9.045%, (SOFR30A + 3.764%), 02/25/2040 | 4,130,188 | 0.2 | |||||||
| 750,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2022-R04 1B1, 10.530%, (SOFR30A + 5.250%), 03/25/2042 | 811,494 | 0.0 | |||||||
| 3,045,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2022-R05 2B2, 12.280%, (SOFR30A + 7.000%), 04/25/2042 | 3,323,809 | 0.2 | |||||||
| 1,000,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2023-R04 1B1, 10.613%, (SOFR30A + 5.350%), 05/25/2043 | 1,104,097 | 0.1 | |||||||
| 1,500,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 10.013%, (SOFR30A + 4.750%), 06/25/2043 | 1,632,329 | 0.1 | |||||||
| 6,000,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2023-R07 2M2, 8.513%, (SOFR30A + 3.250%), 09/25/2043 | 6,251,210 | 0.3 | |||||||
| 3,300,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2024-R03 2B1, 8.063%, (SOFR30A + 2.800%), 03/25/2044 | 3,349,199 | 0.2 | |||||||
| 2,500,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2024-R04 1B1, 7.480%, (SOFR30A + 2.200%), 05/25/2044 | 2,515,839 | 0.1 | |||||||
| 1,000,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2024-R06 1B1, 7.393%, (SOFR30A + 2.050%), 09/25/2044 | 1,005,781 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 327,943 (4) | Fannie Mae Interest Strip 343 6, 5.000%, 10/25/2033 | $ | 45,487 | 0.0 | ||||||
| 18,216,315 (4) | Fannie Mae Interest Strip 427 C13, 3.500%, 03/25/2037 | 2,015,599 | 0.1 | |||||||
| 14,959,005 (4) | Fannie Mae Interest Strip 427 C18, 3.500%, 03/25/2039 | 2,168,001 | 0.1 | |||||||
| 28,053,044 (4) | Fannie Mae Interest Strip 427 C38, 3.000%, 04/25/2049 | 5,290,866 | 0.3 | |||||||
| 4,224,045 (4) | Fannie Mae Interest Strip 429 141, 6.500%, 02/25/2053 | 814,967 | 0.0 | |||||||
| 1,318,015 (4) | Fannie Mae Interest Strip 429 142, 6.500%, 02/25/2053 | 246,788 | 0.0 | |||||||
| 516,430 (4) | Fannie Mae Interest Strip 429 143, 6.500%, 02/25/2053 | 96,572 | 0.0 | |||||||
| 303,831 (4) | Fannie Mae Interest Strip 429 144, 6.500%, 02/25/2053 | 55,549 | 0.0 | |||||||
| 39,255 (1)(4) | Fannie Mae REMIC Trust 2000-26 SP, 3.105%, (-1.000*SOFR30A + 8.386%), 08/25/2030 | 3,550 | 0.0 | |||||||
| 58,896 (1)(4) | Fannie Mae REMIC Trust 2002-13 SR, 1.205%, (-1.000*SOFR30A + 6.486%), 03/25/2032 | 2,600 | 0.0 | |||||||
| 841,006 (1)(4) | Fannie Mae REMIC Trust 2004-53 UC, 2.155%, (-1.000*SOFR30A + 7.436%), 07/25/2034 | 98,915 | 0.0 | |||||||
| 65,897 (1)(4) | Fannie Mae REMIC Trust 2004-64 SW, 1.655%, (-1.000*SOFR30A + 6.936%), 08/25/2034 | 5,299 | 0.0 | |||||||
| 50,398 (1)(4) | Fannie Mae REMIC Trust 2004-66 SE, 1.105%, (-1.000*SOFR30A + 6.386%), 09/25/2034 | 3,401 | 0.0 | |||||||
| 416,482 (1)(4) | Fannie Mae REMIC Trust 2005-59 NS, 1.355%, (-1.000*SOFR30A + 6.636%), 05/25/2035 | 10,988 | 0.0 | |||||||
| 227,262 (1) | Fannie Mae REMIC Trust 2006-11 FA, 5.695%, (SOFR30A + 0.414%), 03/25/2036 | 225,842 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
157
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 87,746 (1) | Fannie Mae REMIC Trust 2006-46 SP, 4.420%, (-1.000*SOFR30A + 23.780%), 06/25/2036 | $ | 109,477 | 0.0 | ||||||
| 287,558 (1)(4) | Fannie Mae REMIC Trust 2007-18 BS, 1.205%, (-1.000*SOFR30A + 6.486%), 06/25/2035 | 26,693 | 0.0 | |||||||
| 2,680,295 (1)(4) | Fannie Mae REMIC Trust 2007-22 SD, 1.005%, (-1.000*SOFR30A + 6.286%), 03/25/2037 | 267,693 | 0.0 | |||||||
| 1,450,913 (1)(4) | Fannie Mae REMIC Trust 2007-55 S, 1.365%, (-1.000*SOFR30A + 6.646%), 06/25/2037 | 136,650 | 0.0 | |||||||
| 1,267,941 (1)(4) | Fannie Mae REMIC Trust 2008-94 SI, 0.105%, (-1.000*SOFR30A + 5.386%), 04/25/2036 | 93,292 | 0.0 | |||||||
| 161,332 (1)(4) | Fannie Mae REMIC Trust 2009-25 SN, 1.155%, (-1.000*SOFR30A + 6.436%), 04/25/2039 | 14,138 | 0.0 | |||||||
| 747,987 (1)(4) | Fannie Mae REMIC Trust 2009-70 PS, 1.355%, (-1.000*SOFR30A + 6.636%), 01/25/2037 | 82,484 | 0.0 | |||||||
| 119,022 (1) | Fannie Mae REMIC Trust 2010-15 FD, 6.135%, (SOFR30A + 0.854%), 03/25/2040 | 119,710 | 0.0 | |||||||
| 307,741 (1) | Fannie Mae REMIC Trust 2011-47 GF, 5.965%, (SOFR30A + 0.684%), 06/25/2041 | 307,686 | 0.0 | |||||||
| 40,909 (1) | Fannie Mae REMIC Trust 2012-10 UF, 5.945%, (SOFR30A + 0.664%), 02/25/2042 | 40,786 | 0.0 | |||||||
| 4,226,075 (4) | Fannie Mae REMIC Trust 2012-111 UI, 3.000%, 10/25/2027 | 125,843 | 0.0 | |||||||
| 358,962 (4) | Fannie Mae REMIC Trust 2012-121 DI, 2.500%, 11/25/2027 | 9,228 | 0.0 | |||||||
| 3,503,493 (4) | Fannie Mae REMIC Trust 2012-128 KI, 3.000%, 11/25/2027 | 110,323 | 0.0 | |||||||
| 6,078,723 (1)(4) | Fannie Mae REMIC Trust 2012-133 NS, 0.755%, (-1.000*SOFR30A + 6.036%), 12/25/2042 | 752,941 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 795,147 (4) | Fannie Mae REMIC Trust 2012-148 IB, 3.500%, 01/25/2028 | $ | 26,181 | 0.0 | ||||||
| 3,489,364 (1)(4) | Fannie Mae REMIC Trust 2012-150 PS, 0.755%, (-1.000*SOFR30A + 6.036%), 01/25/2043 | 417,184 | 0.0 | |||||||
| 7,219,581 (1)(4) | Fannie Mae REMIC Trust 2012-66 IB, 0.050%, (-1.000*SOFR30A + 5.936%), 06/25/2042 | 16,627 | 0.0 | |||||||
| 125,942 (1)(4) | Fannie Mae REMIC Trust 2012-84 KI, 6.000%, (SOFR30A + 6.000%), 08/25/2042 | 24,356 | 0.0 | |||||||
| 180,295 (4) | Fannie Mae REMIC Trust 2012-93 IL, 3.000%, 09/25/2027 | 4,751 | 0.0 | |||||||
| 3,775,006 (4) | Fannie Mae REMIC Trust 2013-1 LI, 2.500%, 02/25/2028 | 105,742 | 0.0 | |||||||
| 67,742 (1)(4) | Fannie Mae REMIC Trust 2013-116 SC, 0.805%, (-1.000*SOFR30A + 6.086%), 04/25/2033 | 611 | 0.0 | |||||||
| 1,273,803 (4) | Fannie Mae REMIC Trust 2013-137 PI, 5.000%, 10/25/2041 | 247,199 | 0.0 | |||||||
| 5,331,111 (1)(4) | Fannie Mae REMIC Trust 2013-19 JS, 0.805%, (-1.000*SOFR30A + 6.086%), 10/25/2041 | 307,560 | 0.0 | |||||||
| 1,024,773 (4) | Fannie Mae REMIC Trust 2013-2 NI, 4.000%, 02/25/2043 | 141,641 | 0.0 | |||||||
| 1,520,123 (4) | Fannie Mae REMIC Trust 2013-21 KI, 3.000%, 03/25/2028 | 43,803 | 0.0 | |||||||
| 3,123,257 (4) | Fannie Mae REMIC Trust 2013-32 EI, 2.500%, 04/25/2033 | 208,676 | 0.0 | |||||||
| 621,338 (4) | Fannie Mae REMIC Trust 2013-41 BI, 3.000%, 05/25/2028 | 21,466 | 0.0 | |||||||
| 1,117,467 (4) | Fannie Mae REMIC Trust 2013-67 AI, 3.000%, 07/25/2028 | 32,399 | 0.0 | |||||||
| 914,678 (4) | Fannie Mae REMIC Trust 2013-69 PI, 3.000%, 04/25/2033 | 50,703 | 0.0 | |||||||
| 2,492,590 (1)(4) | Fannie Mae REMIC Trust 2013-97 JS, 0.755%, (-1.000*SOFR30A + 6.036%), 04/25/2038 | 204,004 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
158
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 6,505,730 (4) | Fannie Mae REMIC Trust 2015-40 AI, 6.000%, 05/25/2037 | $ | 1,143,518 | 0.1 | ||||||
| 4,695,845 (1)(4) | Fannie Mae REMIC Trust 2016-19 SB, 0.705%, (-1.000*SOFR30A + 5.986%), 04/25/2046 | 378,450 | 0.0 | |||||||
| 1,639,160 (4) | Fannie Mae REMIC Trust 2016-4 BI, 4.000%, 02/25/2046 | 310,516 | 0.0 | |||||||
| 1,085,729 (4) | Fannie Mae REMIC Trust 2016-61 PI, 4.500%, 01/25/2046 | 185,051 | 0.0 | |||||||
| 21,709,865 (1)(4) | Fannie Mae REMIC Trust 2016-81 SA, 0.755%, (-1.000*SOFR30A + 6.036%), 11/25/2046 | 1,744,533 | 0.1 | |||||||
| 11,529,775 (1)(4) | Fannie Mae REMIC Trust 2017-16 SG, 0.655%, (-1.000*SOFR30A + 5.936%), 03/25/2047 | 1,468,797 | 0.1 | |||||||
| 22,270,646 (1)(4) | Fannie Mae REMIC Trust 2018-86 US, 0.805%, (-1.000*SOFR30A + 6.086%), 12/25/2048 | 1,841,863 | 0.1 | |||||||
| 8,106,464 (4) | Fannie Mae REMIC Trust 2019-15 AI, 4.000%, 04/25/2059 | 1,794,055 | 0.1 | |||||||
| 11,212,702 (1)(4) | Fannie Mae REMIC Trust 2019-17 SA, 0.705%, (-1.000*SOFR30A + 5.986%), 04/25/2049 | 988,393 | 0.1 | |||||||
| 9,879,361 (1)(4) | Fannie Mae REMIC Trust 2019-8 SB, 0.705%, (-1.000*SOFR30A + 5.986%), 03/25/2049 | 871,019 | 0.0 | |||||||
| 23,180,132 (4) | Fannie Mae REMIC Trust 2020-33 YI, 4.000%, 05/25/2050 | 4,288,350 | 0.2 | |||||||
| 11,137,641 (4) | Fannie Mae REMIC Trust 2020-47 PI, 4.000%, 07/25/2050 | 2,369,343 | 0.1 | |||||||
| 11,911,903 (1)(4) | Fannie Mae REMIC Trust 2020-47 SH, 0.705%, (-1.000*SOFR30A + 5.986%), 07/25/2050 | 1,633,666 | 0.1 | |||||||
| 17,732,960 (1)(4) | Fannie Mae REMIC Trust 2020-49 SB, 0.705%, (-1.000*SOFR30A + 5.986%), 07/25/2050 | 2,903,219 | 0.1 | |||||||
| 12,471,941 (4) | Fannie Mae REMIC Trust 2020-52 AI, 4.000%, 08/25/2050 | 2,054,291 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 36,678,111 (4) | Fannie Mae REMIC Trust 2020-64 IO, 3.000%, 09/25/2050 | $ | 7,048,121 | 0.3 | ||||||
| 18,908,912 (4) | Fannie Mae REMIC Trust 2020-65 CI, 4.000%, 09/25/2050 | 3,410,780 | 0.2 | |||||||
| 19,408,624 (4) | Fannie Mae REMIC Trust 2020-67 JI, 4.000%, 09/25/2050 | 4,037,355 | 0.2 | |||||||
| 24,639,422 (4) | Fannie Mae REMIC Trust 2020-94 MI, 4.500%, 04/25/2050 | 5,695,974 | 0.3 | |||||||
| 99,420 (4) | Fannie Mae REMIC Trust 2021-18 AI, 3.500%, 05/25/2050 | 18,644 | 0.0 | |||||||
| 15,029,573 (4) | Fannie Mae REMIC Trust 2021-18 IY, 4.500%, 08/25/2049 | 3,829,717 | 0.2 | |||||||
| 17,471,934 (4) | Fannie Mae REMIC Trust 2021-2 PI, 2.000%, 02/25/2051 | 1,917,230 | 0.1 | |||||||
| 18,338,680 (4) | Fannie Mae REMIC Trust 2021-23 JI, 3.000%, 04/25/2051 | 2,988,805 | 0.2 | |||||||
| 18,186,379 (4) | Fannie Mae REMIC Trust 2021-28 GI, 4.000%, 05/25/2051 | 3,794,124 | 0.2 | |||||||
| 34,537,122 (4) | Fannie Mae REMIC Trust 2021-65 KI, 3.500%, 10/25/2051 | 6,219,718 | 0.3 | |||||||
| 18,164,113 (4) | Fannie Mae REMIC Trust 2021-74 AI, 3.000%, 11/25/2051 | 3,089,765 | 0.2 | |||||||
| 62,157 | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A7, 6.000%, 02/25/2037 | 24,855 | 0.0 | |||||||
| 145,093 (1)(2) | Flagstar Mortgage Trust 2017-2 A7, 3.500%, 10/25/2047 | 133,722 | 0.0 | |||||||
| 566,660 (1)(2) | Flagstar Mortgage Trust 2018-1 B3, 3.939%, 03/25/2048 | 522,845 | 0.0 | |||||||
| 672,020 (1)(2) | Flagstar Mortgage Trust 2018-3INV A3, 4.000%, 05/25/2048 | 638,588 | 0.0 | |||||||
| 3,392,243 (1)(2) | Flagstar Mortgage Trust 2018-4 B3, 4.143%, 07/25/2048 | 3,127,740 | 0.2 | |||||||
| 844,597 (1)(2) | Flagstar Mortgage Trust 2018-5 B3, 4.420%, 09/25/2048 | 786,238 | 0.0 | |||||||
| 196,899 (1)(2) | Flagstar Mortgage Trust 2018-6RR 1A7, 4.000%, 10/25/2048 | 187,200 | 0.0 | |||||||
| 3,193,567 (1)(2) | Flagstar Mortgage Trust 2018-6RR B1, 4.907%, 10/25/2048 | 3,134,339 | 0.2 | |||||||
| 1,341,393 (1)(2) | Flagstar Mortgage Trust 2019-2 B1, 3.999%, 12/25/2049 | 1,231,245 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
159
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,877,950 (1)(2) | Flagstar Mortgage Trust 2019-2 B2, 3.999%, 12/25/2049 | $ | 1,714,879 | 0.1 | ||||||
| 3,190,078 (1)(2) | Flagstar Mortgage Trust 2020-1INV B2A, 4.199%, 03/25/2050 | 2,916,722 | 0.1 | |||||||
| 2,734,353 (1)(2) | Flagstar Mortgage Trust 2020-1INV B3, 4.199%, 03/25/2050 | 2,475,200 | 0.1 | |||||||
| 3,490,479 (1)(2) | Flagstar Mortgage Trust 2021-2 B3, 2.783%, 04/25/2051 | 2,925,825 | 0.1 | |||||||
| 935 (1)(4) | Freddie Mac REMIC Trust 2266 S, 3.093%, (-1.000*SOFR30A + 8.436%), 11/15/2030 | 62 | 0.0 | |||||||
| 76,092 (1)(4) | Freddie Mac REMIC Trust 2374 S, 2.643%, (-1.000*SOFR30A + 7.986%), 06/15/2031 | 6,483 | 0.0 | |||||||
| 40,093 (1)(4) | Freddie Mac REMIC Trust 2417 SY, 2.943%, (-1.000*SOFR30A + 8.286%), 12/15/2031 | 4,445 | 0.0 | |||||||
| 165,020 (1)(4) | Freddie Mac REMIC Trust 2525 SM, 2.543%, (-1.000*SOFR30A + 7.886%), 02/15/2032 | 17,121 | 0.0 | |||||||
| 78,345 (1)(4) | Freddie Mac REMIC Trust 2577 SA, 1.993%, (-1.000*SOFR30A + 7.336%), 02/15/2033 | 7,866 | 0.0 | |||||||
| 828,090 (1)(4) | Freddie Mac REMIC Trust 2781 SB, 1.693%, (-1.000*SOFR30A + 7.036%), 04/15/2034 | 77,863 | 0.0 | |||||||
| 167,819 (1) | Freddie Mac REMIC Trust 2921 PF, 5.807%, (SOFR30A + 0.464%), 01/15/2035 | 166,254 | 0.0 | |||||||
| 148,224 (1)(4) | Freddie Mac REMIC Trust 2981 CS, 1.263%, (-1.000*SOFR30A + 6.606%), 05/15/2035 | 10,198 | 0.0 | |||||||
| 70,843 (1)(4) | Freddie Mac REMIC Trust 2981 SU, 2.343%, (-1.000*SOFR30A + 7.686%), 05/15/2030 | 5,358 | 0.0 | |||||||
| 236,955 (1)(4) | Freddie Mac REMIC Trust 2989 HS, 1.693%, (-1.000*SOFR30A + 7.036%), 08/15/2034 | 35,074 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 85,904 (1)(4) | Freddie Mac REMIC Trust 3018 SM, 1.743%, (-1.000*SOFR30A + 7.086%), 08/15/2035 | $ | 9,925 | 0.0 | ||||||
| 104,818 (1) | Freddie Mac REMIC Trust 3031 BP, 8.000%, (-1.000*SOFR30A + 44.205%), 08/15/2035 | 109,326 | 0.0 | |||||||
| 286,408 (1)(4) | Freddie Mac REMIC Trust 3049 PI, 1.193%, (-1.000*SOFR30A + 6.536%), 10/15/2035 | 27,963 | 0.0 | |||||||
| 2,066,298 (1)(4) | Freddie Mac REMIC Trust 3128 JI, 1.173%, (-1.000*SOFR30A + 6.516%), 03/15/2036 | 206,061 | 0.0 | |||||||
| 39,236 (5) | Freddie Mac REMIC Trust 3151 PO, 0.000%, 05/15/2036 | 32,978 | 0.0 | |||||||
| 1,036,521 (1)(4) | Freddie Mac REMIC Trust 3222 SN, 1.143%, (-1.000*SOFR30A + 6.486%), 09/15/2036 | 98,830 | 0.0 | |||||||
| 1,044,584 (1)(4) | Freddie Mac REMIC Trust 3298 S, 0.653%, (-1.000*SOFR30A + 5.996%), 04/15/2037 | 98,714 | 0.0 | |||||||
| 326,770 (1)(4) | Freddie Mac REMIC Trust 3523 SA, 0.543%, (-1.000*SOFR30A + 5.886%), 09/15/2036 | 25,876 | 0.0 | |||||||
| 318,056 (1)(4) | Freddie Mac REMIC Trust 3582 MS, 0.693%, (-1.000*SOFR30A + 6.036%), 10/15/2039 | 30,093 | 0.0 | |||||||
| 125,200 (1)(4) | Freddie Mac REMIC Trust 3624 TS, 0.116%, (-1.000*SOFR30A + 4.686%), 01/15/2040 | 5,838 | 0.0 | |||||||
| 393,220 (4) | Freddie Mac REMIC Trust 3688 BI, 5.000%, 07/15/2040 | 58,469 | 0.0 | |||||||
| 279,011 (1) | Freddie Mac REMIC Trust 3740 FB, 5.957%, (SOFR30A + 0.614%), 10/15/2040 | 277,499 | 0.0 | |||||||
| 1,037,045 (4) | Freddie Mac REMIC Trust 4097 IC, 2.500%, 08/15/2027 | 25,453 | 0.0 | |||||||
| 592,309 (4) | Freddie Mac REMIC Trust 4116 IL, 4.500%, 05/15/2042 | 62,013 | 0.0 | |||||||
| 3,734,093 (4) | Freddie Mac REMIC Trust 4120 TI, 2.500%, 10/15/2027 | 97,353 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
160
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 511,860 (4) | Freddie Mac REMIC Trust 4136 QI, 3.000%, 11/15/2032 | $ | 21,993 | 0.0 | ||||||
| 385,414 (4) | Freddie Mac REMIC Trust 4143 IK, 4.000%, 10/15/2041 | 23,572 | 0.0 | |||||||
| 10,162,119 (1)(4) | Freddie Mac REMIC Trust 4146 SA, 0.693%, (-1.000*SOFR30A + 6.036%), 12/15/2042 | 1,225,744 | 0.1 | |||||||
| 156,177 (4) | Freddie Mac REMIC Trust 4153 YI, 3.000%, 09/15/2042 | 2,348 | 0.0 | |||||||
| 1,418,689 (4) | Freddie Mac REMIC Trust 4157 IH, 3.500%, 01/15/2043 | 216,427 | 0.0 | |||||||
| 516,482 (4) | Freddie Mac REMIC Trust 4162 DI, 2.000%, 02/15/2028 | 11,081 | 0.0 | |||||||
| 1,830,841 (4) | Freddie Mac REMIC Trust 4182 IL, 3.000%, 03/15/2028 | 65,182 | 0.0 | |||||||
| 1,631,747 (4) | Freddie Mac REMIC Trust 4186 IA, 3.000%, 03/15/2033 | 129,695 | 0.0 | |||||||
| 49,136 (4) | Freddie Mac REMIC Trust 4261 ID, 6.500%, 06/15/2032 | 1,784 | 0.0 | |||||||
| 18,812,493 (1)(4) | Freddie Mac REMIC Trust 4273 PS, 0.643%, (-1.000*SOFR30A + 5.986%), 11/15/2043 | 1,675,633 | 0.1 | |||||||
| 302,631 (4) | Freddie Mac REMIC Trust 4287 CI, 4.500%, 07/15/2041 | 31,661 | 0.0 | |||||||
| 1,361,532 (4) | Freddie Mac REMIC Trust 4290 EI, 5.000%, 12/15/2043 | 261,335 | 0.0 | |||||||
| 61,787 (4) | Freddie Mac REMIC Trust 4333 AI, 5.500%, 02/15/2044 | 10,403 | 0.0 | |||||||
| 1,238,299 (4) | Freddie Mac REMIC Trust 4494 LI, 5.000%, 12/15/2043 | 111,872 | 0.0 | |||||||
| 5,516,936 (1)(4) | Freddie Mac REMIC Trust 4618 SA, 0.543%, (-1.000*SOFR30A + 5.886%), 09/15/2046 | 694,710 | 0.0 | |||||||
| 1,354,154 (4) | Freddie Mac REMIC Trust 4625 BI, 3.500%, 06/15/2046 | 240,982 | 0.0 | |||||||
| 1,424,518 (4) | Freddie Mac REMIC Trust 4708 KI, 4.500%, 11/15/2046 | 233,277 | 0.0 | |||||||
| 9,911,207 (4) | Freddie Mac REMIC Trust 4813 IO, 5.500%, 08/15/2048 | 1,955,409 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 17,744,831 (1)(4) | Freddie Mac REMIC Trust 4903 NS, 0.705%, (-1.000*SOFR30A + 5.986%), 08/25/2049 | $ | 2,144,676 | 0.1 | ||||||
| 10,230,779 (1)(4) | Freddie Mac REMIC Trust 4909 SJ, 0.655%, (-1.000*SOFR30A + 5.936%), 09/25/2049 | 1,457,948 | 0.1 | |||||||
| 4,105,653 (1)(4) | Freddie Mac REMIC Trust 4910 SD, 0.593%, (-1.000*SOFR30A + 5.936%), 06/15/2049 | 558,330 | 0.0 | |||||||
| 12,848,271 (1)(4) | Freddie Mac REMIC Trust 4910 SH, 0.655%, (-1.000*SOFR30A + 5.936%), 09/25/2049 | 1,836,096 | 0.1 | |||||||
| 17,137,228 (1)(4) | Freddie Mac REMIC Trust 4924 SY, 0.655%, (-1.000*SOFR30A + 5.936%), 10/25/2049 | 2,548,050 | 0.1 | |||||||
| 11,574,991 (4) | Freddie Mac REMIC Trust 4967 IQ, 4.000%, 02/25/2050 | 2,466,467 | 0.1 | |||||||
| 31,586,638 (4) | Freddie Mac REMIC Trust 4974 I, 4.000%, 04/25/2050 | 6,644,505 | 0.3 | |||||||
| 19,690,300 (1)(4) | Freddie Mac REMIC Trust 5009 TS, 0.805%, (-1.000*SOFR30A + 6.086%), 09/25/2050 | 2,732,427 | 0.1 | |||||||
| 28,346,506 (4) | Freddie Mac REMIC Trust 5010 MI, 3.000%, 09/25/2050 | 4,357,538 | 0.2 | |||||||
| 17,225,460 (4) | Freddie Mac REMIC Trust 5036 CI, 4.000%, 12/25/2049 | 3,634,364 | 0.2 | |||||||
| 24,628,814 (4) | Freddie Mac REMIC Trust 5049 UI, 3.000%, 12/25/2050 | 4,632,884 | 0.2 | |||||||
| 9,124,438 (4) | Freddie Mac REMIC Trust 5052 BI, 5.000%, 12/25/2050 | 2,201,270 | 0.1 | |||||||
| 12,831,772 (4) | Freddie Mac REMIC Trust 5074 GI, 2.000%, 02/25/2051 | 1,477,026 | 0.1 | |||||||
| 21,401,659 (4) | Freddie Mac REMIC Trust 5081 CI, 2.000%, 03/25/2051 | 2,355,985 | 0.1 | |||||||
| 38,804,132 (4) | Freddie Mac REMIC Trust 5083 IP, 4.000%, 11/25/2048 | 8,068,861 | 0.4 | |||||||
| 13,819,993 (4) | Freddie Mac REMIC Trust 5133 CI, 4.500%, 07/25/2039 | 2,362,663 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
161
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 15,204,434 (4) | Freddie Mac REMIC Trust 5138 CI, 4.000%, 07/25/2050 | $ | 3,199,603 | 0.2 | ||||||
| 10,078,593 (4) | Freddie Mac REMIC Trust 5142 LI, 2.500%, 09/25/2051 | 1,644,543 | 0.1 | |||||||
| 5,036,154 (4) | Freddie Mac REMIC Trust 5152 GI, 4.500%, 06/25/2048 | 1,167,455 | 0.1 | |||||||
| 19,282,210 (4) | Freddie Mac REMIC Trust 5214 IO, 2.000%, 03/25/2051 | 2,407,021 | 0.1 | |||||||
| 8,250,286 (4) | Freddie Mac REMIC Trust 5261 IC, 4.000%, 01/25/2050 | 1,658,088 | 0.1 | |||||||
| 5,100,000 (1)(2) | Freddie Mac STACR REMIC Trust 2021-DNA6 B1, 8.680%, (SOFR30A + 3.400%), 10/25/2041 | 5,264,905 | 0.3 | |||||||
| 6,100,000 (1)(2) | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 9.030%, (SOFR30A + 3.750%), 12/25/2041 | 6,284,919 | 0.3 | |||||||
| 5,000,000 (1)(2) | Freddie Mac STACR REMIC Trust 2021-HQA4 M2, 7.630%, (SOFR30A + 2.350%), 12/25/2041 | 5,070,031 | 0.3 | |||||||
| 2,800,000 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA1 B1, 8.680%, (SOFR30A + 3.400%), 01/25/2042 | 2,894,347 | 0.1 | |||||||
| 3,000,000 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA1 M2, 7.780%, (SOFR30A + 2.500%), 01/25/2042 | 3,069,588 | 0.2 | |||||||
| 2,500,000 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA2 B1, 10.030%, (SOFR30A + 4.750%), 02/25/2042 | 2,648,729 | 0.1 | |||||||
| 3,400,000 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA3 M2, 9.630%, (SOFR30A + 4.350%), 04/25/2042 | 3,623,053 | 0.2 | |||||||
| 1,800,000 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA5 M2, 12.030%, (SOFR30A + 6.750%), 06/25/2042 | 2,030,708 | 0.1 | |||||||
| 1,000,000 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA6 M2, 11.030%, (SOFR30A + 5.750%), 09/25/2042 | 1,112,763 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 2,500,000 (1)(2) | Freddie Mac STACR REMIC Trust 2023-HQA3 M2, 8.630%, (SOFR30A + 3.350%), 11/25/2043 | $ | 2,616,932 | 0.1 | ||||||
| 4,000,000 (1)(2) | Freddie Mac STACR REMIC Trust 2024-HQA2 M2, 7.080%, (SOFR30A + 1.800%), 08/25/2044 | 4,032,500 | 0.2 | |||||||
| 557,892 (4) | Freddie Mac Strips 224 IO, 6.000%, 03/01/2033 | 87,593 | 0.0 | |||||||
| 293,495 (1)(4) | Freddie Mac Strips 237 S23, 1.643%, (-1.000*SOFR30A + 6.986%), 05/15/2036 | 36,014 | 0.0 | |||||||
| 357,844 (4) | Freddie Mac Strips 260 33, 4.000%, 05/15/2039 | 55,236 | 0.0 | |||||||
| 442,172 (4) | Freddie Mac Strips 287 IO, 3.000%, 10/15/2027 | 12,529 | 0.0 | |||||||
| 178,265 (1)(4) | Freddie Mac Strips 324 144, 6.000%, 06/15/2039 | 34,092 | 0.0 | |||||||
| 8,466,188 (4) | Freddie Mac Strips 390 C3, 3.500%, 11/15/2037 | 1,010,482 | 0.1 | |||||||
| 10,211,664 (4) | Freddie Mac Strips 400 C8, 6.500%, 05/25/2053 | 2,093,210 | 0.1 | |||||||
| 1,517,399 (1)(2) | Galton Funding Mortgage Trust 2018-2 B2, 4.750%, 10/25/2058 | 1,476,702 | 0.1 | |||||||
| 2,284,435 (1)(2) | Galton Funding Mortgage Trust 2019-1 B1, 4.250%, 02/25/2059 | 2,190,618 | 0.1 | |||||||
| 1,831,728 (1)(2) | Galton Funding Mortgage Trust 2019-1 B2, 4.500%, 02/25/2059 | 1,773,531 | 0.1 | |||||||
| 1,991,450 (1)(2) | GCAT Trust 2024-INV2 B3, 7.398%, 06/25/2054 | 2,103,329 | 0.1 | |||||||
| 2,694,468 (1)(4) | Ginnie Mae 2007-59 SC, 1.425%, (-1.000*TSFR1M + 6.386%), 07/20/2037 | 286,726 | 0.0 | |||||||
| 239,786 (1)(4) | Ginnie Mae 2008-40 SA, 1.189%, (-1.000*TSFR1M + 6.286%), 05/16/2038 | 14,206 | 0.0 | |||||||
| 318,237 (4) | Ginnie Mae 2010-143 JI, 4.000%, 08/16/2039 | 12,436 | 0.0 | |||||||
| 559,230 (4) | Ginnie Mae 2010-4 IP, 5.000%, 01/16/2039 | 31,667 | 0.0 | |||||||
| 392,937 (1)(4) | Ginnie Mae 2010-4 SL, 1.189%, (-1.000*TSFR1M + 6.286%), 01/16/2040 | 41,985 | 0.0 | |||||||
| 1,106,806 (1)(4) | Ginnie Mae 2011-101 BI, 0.650%, (-1.000*TSFR1M + 6.536%), 11/20/2037 | 24,137 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
162
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 89,351 (1)(4) | Ginnie Mae 2011-101 EI, 6.000%, (-1.000*TSFR1M + 106.946%), 10/16/2039 | $ | 16,544 | 0.0 | ||||||
| 807,575 (4) | Ginnie Mae 2011-124 KI, 4.000%, 08/20/2039 | 31,338 | 0.0 | |||||||
| 3,005,804 (1)(4) | Ginnie Mae 2011-25 AS, 0.985%, (-1.000*TSFR1M + 5.946%), 02/20/2041 | 242,410 | 0.0 | |||||||
| 582,514 (4) | Ginnie Mae 2012-148 IP, 3.500%, 04/20/2041 | 12,525 | 0.0 | |||||||
| 11,447 (4) | Ginnie Mae 2012-149 BI, 3.500%, 10/20/2041 | 996 | 0.0 | |||||||
| 1,149,057 (4) | Ginnie Mae 2012-39 PI, 4.000%, 03/16/2042 | 107,219 | 0.0 | |||||||
| 2,340,229 (1)(4) | Ginnie Mae 2013-103 DS, 1.075%, (-1.000*TSFR1M + 6.036%), 07/20/2043 | 255,708 | 0.0 | |||||||
| 13,982,415 (1)(4) | Ginnie Mae 2013-130 SB, 0.016%, (-1.000*TSFR1M + 4.936%), 09/16/2043 | 657,073 | 0.0 | |||||||
| 4,206,752 (1)(4) | Ginnie Mae 2013-134 DS, 1.025%, (-1.000*TSFR1M + 5.986%), 09/20/2043 | 429,464 | 0.0 | |||||||
| 126,391 (4) | Ginnie Mae 2013-44 LI, 4.500%, 01/16/2043 | 14,014 | 0.0 | |||||||
| 454,597 (4) | Ginnie Mae 2013-81 IO, 4.500%, 01/16/2040 | 27,191 | 0.0 | |||||||
| 6,196,139 (1)(4) | Ginnie Mae 2014-58 SM, 0.889%, (-1.000*TSFR1M + 5.986%), 04/16/2044 | 689,086 | 0.0 | |||||||
| 1,414,500 (4) | Ginnie Mae 2014-84 PI, 4.500%, 04/20/2043 | 154,746 | 0.0 | |||||||
| 1,359,865 (4) | Ginnie Mae 2015-132 BI, 4.000%, 11/20/2044 | 175,264 | 0.0 | |||||||
| 2,160,620 (1)(4) | Ginnie Mae 2015-69 IL, 0.200%, (-1.000*TSFR1M + 6.586%), 07/20/2034 | 11,153 | 0.0 | |||||||
| 147,299 (4) | Ginnie Mae 2015-94 IU, 4.000%, 08/20/2044 | 20,782 | 0.0 | |||||||
| 4,964,762 (1)(4) | Ginnie Mae 2016-66 ES, 0.975%, (-1.000*TSFR1M + 5.936%), 05/20/2046 | 619,097 | 0.0 | |||||||
| 292,433 (4) | Ginnie Mae 2016-8 PI, 4.000%, 10/20/2044 | 34,808 | 0.0 | |||||||
| 4,440,058 (1)(4) | Ginnie Mae 2018-153 SQ, 1.125%, (-1.000*TSFR1M + 6.086%), 11/20/2048 | 394,400 | 0.0 | |||||||
| 10,734,024 (1)(4) | Ginnie Mae 2018-93 SJ, 1.125%, (-1.000*TSFR1M + 6.086%), 07/20/2048 | 1,056,821 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 136,270 (4) | Ginnie Mae 2019-111 TI, 5.000%, 09/20/2049 | $ | 22,738 | 0.0 | ||||||
| 76,252 (4) | Ginnie Mae 2019-86 GI, 6.500%, 07/20/2049 | 15,780 | 0.0 | |||||||
| 289,578 (4) | Ginnie Mae 2019-86 HI, 5.500%, 07/20/2049 | 58,575 | 0.0 | |||||||
| 9,611,918 (1)(4) | Ginnie Mae 2019-89 SC, 1.025%, (-1.000*TSFR1M + 5.986%), 07/20/2049 | 1,334,029 | 0.1 | |||||||
| 19,293,463 (4) | Ginnie Mae 2020-7 EI, 3.500%, 01/20/2050 | 3,646,958 | 0.2 | |||||||
| 21,244,049 (4) | Ginnie Mae 2021-152 ID, 3.000%, 08/20/2051 | 3,479,110 | 0.2 | |||||||
| 38,452,139 (4) | Ginnie Mae 2021-194 IK, 3.000%, 11/20/2051 | 6,594,550 | 0.3 | |||||||
| 21,410,715 (1)(4) | Ginnie Mae 2022-159 SE, 0.655%, (-1.000*SOFR30A + 6.000%), 09/20/2052 | 1,693,414 | 0.1 | |||||||
| 16,391,735 (4) | Ginnie Mae 2022-56 IG, 4.500%, 07/20/2050 | 3,459,138 | 0.2 | |||||||
| 19,642,217 (4) | Ginnie Mae 2023-24 ID, 3.500%, 06/20/2050 | 3,624,170 | 0.2 | |||||||
| 10,267,592 (1) | Ginnie Mae 2023-57 S, 1.770%, (-1.000*SOFR30A + 13.530%), 04/20/2053 | 9,735,214 | 0.5 | |||||||
| 21,812,242 (4) | Ginnie Mae 2023-70 JI, 5.500%, 06/20/2052 | 4,209,734 | 0.2 | |||||||
| 223,475 (1)(2) | GS Mortage-Backed Securities Trust 2020-PJ1 A1, 3.500%, 05/25/2050 | 204,733 | 0.0 | |||||||
| 354,930 (1)(2) | GS Mortage-Backed Securities Trust 2020-PJ1 A4, 3.500%, 05/25/2050 | 325,164 | 0.0 | |||||||
| 893,942 (1)(2) | GS Mortage-Backed Securities Trust 2020-PJ1 A8, 3.500%, 05/25/2050 | 818,971 | 0.0 | |||||||
| 2,195,134 (1)(2) | GS Mortage-Backed Securities Trust 2020-PJ1 B2, 3.625%, 05/25/2050 | 1,929,512 | 0.1 | |||||||
| 3,465,274 (1)(2) | GS Mortage-Backed Securities Trust 2020-PJ1 B3, 3.625%, 05/25/2050 | 3,014,504 | 0.2 | |||||||
| 1,479,646 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ1 B3, 4.040%, 08/25/2049 | 1,316,926 | 0.1 | |||||||
| 57,422 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 A1, 4.000%, 11/25/2049 | 55,098 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
163
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 3,515,902 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B2, 4.374%, 11/25/2049 | $ | 3,353,563 | 0.2 | ||||||
| 3,636,649 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ2 B3, 4.374%, 11/25/2049 | 3,426,918 | 0.2 | |||||||
| 429,970 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B1, 3.917%, 03/25/2050 | 405,175 | 0.0 | |||||||
| 438,550 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B2, 3.917%, 03/25/2050 | 413,259 | 0.0 | |||||||
| 1,694,408 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2020-PJ3 B4, 3.421%, 10/25/2050 | 1,400,248 | 0.1 | |||||||
| 1,596,397 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2021-PJ3 B3, 2.651%, 08/25/2051 | 1,273,756 | 0.1 | |||||||
| 3,648,158 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2021-PJ4 B3, 2.614%, 09/25/2051 | 2,988,664 | 0.2 | |||||||
| 4,719,961 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2021-PJ5 B3, 2.588%, 10/25/2051 | 3,824,063 | 0.2 | |||||||
| 934,551 (1)(2) | GS Mortgage-Backed Securities Trust 2021-GR3 B3, 3.378%, 04/25/2052 | 783,932 | 0.0 | |||||||
| 936,937 (1)(2) | GS Mortgage-Backed Securities Trust 2021-GR3 B4, 3.378%, 04/25/2052 | 761,188 | 0.0 | |||||||
| 2,326,244 (2) | GS Mortgage-Backed Securities Trust 2021-PJ9 A4, 2.500%, 02/26/2052 | 1,934,684 | 0.1 | |||||||
| 2,211,950 (2) | GS Mortgage-Backed Securities Trust 2022-NQM1 A4, 4.000%, 05/25/2062 | 2,078,828 | 0.1 | |||||||
| 2,961,846 (1)(2) | GS Mortgage-Backed Securities Trust 2023-PJ6 B2, 6.938%, 04/25/2054 | 3,113,220 | 0.2 | |||||||
| 990,615 (1)(2) | GS Mortgage-Backed Securities Trust 2024-PJ1 B2, 7.228%, 06/25/2054 | 1,063,037 | 0.1 | |||||||
| 290,107 (1) | HarborView Mortgage Loan Trust 2007-5 A1A, 5.459%, (TSFR1M + 0.494%), 09/19/2037 | 247,794 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 685 (1) | HomeBanc Mortgage Trust 2004-1 2A, 5.829%, (TSFR1M + 0.974%), 08/25/2029 | $ | 665 | 0.0 | ||||||
| 2,600,000 (1)(2) | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 1,982,794 | 0.1 | |||||||
| 49,050 (1) | IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 5.389%, (TSFR1M + 0.534%), 04/25/2046 | 43,847 | 0.0 | |||||||
| 57,426 (1)(2) | J.P. Morgan Mortgage Trust 2019-2 A3, 3.990%, 08/25/2049 | 55,162 | 0.0 | |||||||
| 998,661 (1)(2) | J.P. Morgan Mortgage Trust 2019-2 B1, 4.439%, 08/25/2049 | 951,013 | 0.1 | |||||||
| 2,419,663 (1)(2) | J.P. Morgan Mortgage Trust 2019-2 B2, 4.439%, 08/25/2049 | 2,297,541 | 0.1 | |||||||
| 1,121,218 (1)(2) | J.P. Morgan Mortgage Trust 2019-LTV1 B2, 4.563%, 06/25/2049 | 1,074,442 | 0.1 | |||||||
| 2,340,527 (1)(2) | J.P. Morgan Mortgage Trust 2021-14 B4, 3.151%, 05/25/2052 | 1,887,915 | 0.1 | |||||||
| 875,378 (1)(2) | J.P. Morgan Mortgage Trust 2022-5 A9, 2.800%, 09/25/2052 | 748,226 | 0.0 | |||||||
| 861,105 (1)(2) | J.P. Morgan Mortgage Trust 2024-1 A9, 6.000%, 06/25/2054 | 861,079 | 0.0 | |||||||
| 917,096 (1) | JP Morgan Mortgage Trust 2005-A4 B1, 6.123%, 07/25/2035 | 874,879 | 0.0 | |||||||
| 69,887 | JP Morgan Mortgage Trust 2005-S3 1A10, 6.000%, 01/25/2036 | 32,709 | 0.0 | |||||||
| 137,384 | JP Morgan Mortgage Trust 2006-S2 1A18, 6.000%, 07/25/2036 | 64,751 | 0.0 | |||||||
| 389,158 | JP Morgan Mortgage Trust 2006-S3 1A30, 6.500%, 08/25/2036 | 127,241 | 0.0 | |||||||
| 784,352 (1)(2) | JP Morgan Mortgage Trust 2014-5 B3, 2.711%, 10/25/2029 | 735,142 | 0.0 | |||||||
| 416,833 (1)(2) | JP Morgan Mortgage Trust 2016-1 B3, 3.793%, 05/25/2046 | 395,195 | 0.0 | |||||||
| 2,095,000 (1)(2) | JP Morgan Mortgage Trust 2016-1 B4, 3.793%, 05/25/2046 | 1,619,266 | 0.1 | |||||||
| 312,031 (1)(2) | JP Morgan Mortgage Trust 2016-4 A13, 3.500%, 10/25/2046 | 289,585 | 0.0 | |||||||
| 748,559 (1)(2) | JP Morgan Mortgage Trust 2017-1 B4, 3.448%, 01/25/2047 | 671,148 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
164
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 1,199,392 (1)(2) | JP Morgan Mortgage Trust 2017-3 B1, 3.775%, 08/25/2047 | $ | 1,128,608 | 0.1 | ||||||
| 1,537,463 (1)(2) | JP Morgan Mortgage Trust 2017-5 B1, 5.425%, 10/26/2048 | 1,507,099 | 0.1 | |||||||
| 487,936 (1)(2) | JP Morgan Mortgage Trust 2017-6 B3, 3.774%, 12/25/2048 | 447,646 | 0.0 | |||||||
| 1,377,708 (1)(2) | JP Morgan Mortgage Trust 2017-6 B4, 3.774%, 12/25/2048 | 1,253,937 | 0.1 | |||||||
| 953,185 (1)(2) | JP Morgan Mortgage Trust 2017-6 B5, 3.774%, 12/25/2048 | 782,684 | 0.0 | |||||||
| 1,961,900 (1)(2) | JP Morgan Mortgage Trust 2018-1 B2, 3.576%, 06/25/2048 | 1,790,088 | 0.1 | |||||||
| 2,064,057 (1)(2) | JP Morgan Mortgage Trust 2018-3 B3, 3.702%, 09/25/2048 | 1,875,428 | 0.1 | |||||||
| 414,302 (1)(2) | JP Morgan Mortgage Trust 2018-4 B2, 3.709%, 10/25/2048 | 378,428 | 0.0 | |||||||
| 1,685,460 (1)(2) | JP Morgan Mortgage Trust 2018-5 A13, 3.500%, 10/25/2048 | 1,537,279 | 0.1 | |||||||
| 92,679 (1)(2) | JP Morgan Mortgage Trust 2018-6 1A10, 3.500%, 12/25/2048 | 85,165 | 0.0 | |||||||
| 143,647 (1)(2) | JP Morgan Mortgage Trust 2018-8 A3, 4.000%, 01/25/2049 | 136,618 | 0.0 | |||||||
| 3,431,719 (1)(2) | JP Morgan Mortgage Trust 2018-8 B2, 4.041%, 01/25/2049 | 3,179,740 | 0.2 | |||||||
| 876,328 (1)(2) | JP Morgan Mortgage Trust 2018-9 B2, 4.254%, 02/25/2049 | 821,657 | 0.0 | |||||||
| 1,731,991 (1)(2) | JP Morgan Mortgage Trust 2018-9 B3, 4.254%, 02/25/2049 | 1,614,567 | 0.1 | |||||||
| 153,154 (1)(2) | JP Morgan Mortgage Trust 2019-1 A3, 4.000%, 05/25/2049 | 146,166 | 0.0 | |||||||
| 329,156 (1)(2) | JP Morgan Mortgage Trust 2019-5 A3, 4.000%, 11/25/2049 | 315,553 | 0.0 | |||||||
| 2,649,105 (1)(2) | JP Morgan Mortgage Trust 2019-5 B1, 4.457%, 11/25/2049 | 2,534,802 | 0.1 | |||||||
| 78,402 (1)(2) | JP Morgan Mortgage Trust 2019-6 A3, 3.500%, 12/25/2049 | 72,816 | 0.0 | |||||||
| 879,970 (1)(2) | JP Morgan Mortgage Trust 2019-7 B3A, 3.219%, 02/25/2050 | 775,230 | 0.0 | |||||||
| 364,951 (1)(2) | JP Morgan Mortgage Trust 2019-8 A15, 3.500%, 03/25/2050 | 336,170 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 897,409 (1)(2) | JP Morgan Mortgage Trust 2019-8 B3A, 3.418%, 03/25/2050 | $ | 803,348 | 0.0 | ||||||
| 3,538,762 (1)(2) | JP Morgan Mortgage Trust 2019-INV1 B2, 4.936%, 10/25/2049 | 3,443,967 | 0.2 | |||||||
| 223,130 (1)(2) | JP Morgan Mortgage Trust 2019-INV2 A15, 3.500%, 02/25/2050 | 206,572 | 0.0 | |||||||
| 3,822,151 (1)(2) | JP Morgan Mortgage Trust 2019-INV3 B3, 4.361%, 05/25/2050 | 3,494,434 | 0.2 | |||||||
| 1,685,525 (1)(2) | JP Morgan Mortgage Trust 2019-LTV2 B2, 4.668%, 12/25/2049 | 1,637,161 | 0.1 | |||||||
| 1,708,591 (1)(2) | JP Morgan Mortgage Trust 2019-LTV2 B3, 4.668%, 12/25/2049 | 1,646,489 | 0.1 | |||||||
| 2,555,281 (1)(2) | JP Morgan Mortgage Trust 2019-LTV3 B2, 4.356%, 03/25/2050 | 2,396,950 | 0.1 | |||||||
| 5,947,834 (1)(2) | JP Morgan Mortgage Trust 2019-LTV3 B3, 4.356%, 03/25/2050 | 5,525,469 | 0.3 | |||||||
| 247,842 (1)(2) | JP Morgan Mortgage Trust 2020-2 A15, 3.500%, 07/25/2050 | 227,200 | 0.0 | |||||||
| 62,686 (1)(2) | JP Morgan Mortgage Trust 2020-LTV1 A15, 3.500%, 06/25/2050 | 61,687 | 0.0 | |||||||
| 323,838 (1)(2) | JP Morgan Mortgage Trust 2020-LTV1 A5, 3.500%, 06/25/2050 | 318,648 | 0.0 | |||||||
| 3,028,208 (1)(2) | JP Morgan Mortgage Trust 2021-6 B3, 2.863%, 10/25/2051 | 2,446,843 | 0.1 | |||||||
| 2,385,082 (1)(2) | JP Morgan Mortgage Trust 2022-2 B3, 3.129%, 08/25/2052 | 1,939,570 | 0.1 | |||||||
| 987,885 (1)(2) | JP Morgan Mortgage Trust 2023-10 B3, 6.468%, 05/25/2054 | 976,242 | 0.1 | |||||||
| 1,794,836 (1)(2) | JP Morgan Mortgage Trust 2024-2 A9, 6.500%, 08/25/2054 | 1,815,639 | 0.1 | |||||||
| 1,790,787 (1)(2) | JP Morgan Mortgage Trust Series 2024-4 B2, 7.197%, 10/25/2054 | 1,934,821 | 0.1 | |||||||
| 2,707,072 (1)(2) | JP Morgan Mortgage Trust Series 2024-4 B3, 7.197%, 10/25/2054 | 2,858,964 | 0.1 | |||||||
| 2,460,063 (1)(2) | JP Morgan Mortgage Trust Series 2024-6 B3, 6.954%, 12/25/2054 | 2,567,808 | 0.1 | |||||||
| 447,848 (1)(2) | JP Morgan Trust 2015-3 B3, 3.588%, 05/25/2045 | 421,477 | 0.0 | |||||||
| 1,327,529 (1)(2) | JP Morgan Trust 2015-3 B4, 3.588%, 05/25/2045 | 1,049,141 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
165
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 57,822 (1) | Lehman XS Trust Series 2005-5N 1A2, 5.329%, (TSFR1M + 0.474%), 11/25/2035 | $ | 57,225 | 0.0 | ||||||
| 1,752,378 (1)(2) | Mello Mortgage Capital Acceptance 2021-MTG3 B3, 2.906%, 07/01/2051 | 1,420,393 | 0.1 | |||||||
| 2,714,336 (1)(2) | Mello Mortgage Capital Acceptance 2022-INV1 B3, 3.318%, 03/25/2052 | 2,251,566 | 0.1 | |||||||
| 2,000,000 (1)(2) | MFA Trust 2021-INV2 M1, 3.199%, 11/25/2056 | 1,637,043 | 0.1 | |||||||
| 938,252 (1) | Morgan Stanley Mortgage Loan Trust 2006-9AR A2, 5.269%, (TSFR1M + 0.414%), 08/25/2036 | 226,079 | 0.0 | |||||||
| 994,896 (1)(2) | Morgan Stanley Residential Mortgage Loan Trust 2024-2 B3, 7.182%, 03/25/2054 | 1,047,695 | 0.1 | |||||||
| 1,000,000 (2) | Morgan Stanley Residential Mortgage Loan Trust 2024-4 B3, 7.067%, 09/25/2054 | 1,030,315 | 0.1 | |||||||
| 270,640 (1)(2) | New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057 | 267,797 | 0.0 | |||||||
| 1,300,000 (1)(2) | Oaktown Re VII Ltd. 2021-2 M1C, 8.630%, (SOFR30A + 3.350%), 04/25/2034 | 1,333,870 | 0.1 | |||||||
| 181,404 (1)(2) | OBX Trust 2019-EXP3 1A9, 3.500%, 10/25/2059 | 166,064 | 0.0 | |||||||
| 316,502 (1)(2) | OBX Trust 2019-INV2 A25, 4.000%, 05/27/2049 | 301,572 | 0.0 | |||||||
| 228,433 (1)(2) | OBX Trust 2020-INV1 A21, 3.500%, 12/25/2049 | 209,765 | 0.0 | |||||||
| 1,755,794 (1)(2) | OBX Trust 2022-J1 A14, 2.500%, 02/25/2052 | 1,465,732 | 0.1 | |||||||
| 2,500,000 (1)(2) | OBX Trust 2022-NQM4 A1B, 3.900%, 04/25/2062 | 2,417,087 | 0.1 | |||||||
| 2,092,253 (1)(2) | Oceanview Mortgage Trust 2021-1 B3, 2.717%, 05/25/2051 | 1,670,168 | 0.1 | |||||||
| 1,071,440,618 (2)(4) | PMTT4 2017-PM1 XIO, 13.000%, 10/25/2048 | 4,616,677 | 0.2 | |||||||
| 14,391 | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | 12,654 | 0.0 | |||||||
| 130,057 (1)(2) | PSMC Trust 2019-3 A12, 3.500%, 11/25/2049 | 124,124 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 3,933,672 (1)(2) | Radnor RE Ltd. 2021-1 M1C, 7.980%, (SOFR30A + 2.700%), 12/27/2033 | $ | 3,989,842 | 0.2 | ||||||
| 2,213,814 (1)(2) | RCKT Mortgage Trust 2019-1 B2A, 3.890%, 09/25/2049 | 2,019,837 | 0.1 | |||||||
| 1,498,435 (1)(2) | RCKT Mortgage Trust 2020-1 B2A, 3.466%, 02/25/2050 | 1,341,080 | 0.1 | |||||||
| 2,336,282 (1)(2) | RCKT Mortgage Trust 2021-4 A21, 2.500%, 09/25/2051 | 1,944,491 | 0.1 | |||||||
| 5,220,949 (1)(2) | RCKT Mortgage Trust 2021-6 B3, 2.793%, 12/25/2051 | 4,155,826 | 0.2 | |||||||
| 865,958 (1)(2) | RCKT Mortgage Trust 2022-3 A21, 3.000%, 05/25/2052 | 749,712 | 0.0 | |||||||
| 681,094 (2) | Sequoia Mortgage Trust 2013-9 B2, 3.500%, 07/25/2043 | 653,695 | 0.0 | |||||||
| 1,252,497 (1)(2) | Sequoia Mortgage Trust 2017-1 B2, 3.602%, 02/25/2047 | 1,172,988 | 0.1 | |||||||
| 1,044,939 (1)(2) | Sequoia Mortgage Trust 2018-6 B1, 4.163%, 07/25/2048 | 993,728 | 0.1 | |||||||
| 478,606 (2) | Sequoia Mortgage Trust 2018-CH1 B2B, 4.440%, 03/25/2048 | 458,662 | 0.0 | |||||||
| 1,504,424 (1)(2) | Sequoia Mortgage Trust 2019-2 B2, 4.247%, 06/25/2049 | 1,438,430 | 0.1 | |||||||
| 1,422,566 (1)(2) | Sequoia Mortgage Trust 2019-2 B3, 4.247%, 06/25/2049 | 1,329,194 | 0.1 | |||||||
| 1,902,849 (1)(2) | Sequoia Mortgage Trust 2019-5 B2, 3.711%, 12/25/2049 | 1,733,991 | 0.1 | |||||||
| 1,903,723 (1)(2) | Sequoia Mortgage Trust 2019-5 B3, 3.711%, 12/25/2049 | 1,718,404 | 0.1 | |||||||
| 711,713 (1)(2) | Sequoia Mortgage Trust 2019-CH1 B2B, 4.911%, 03/25/2049 | 713,118 | 0.0 | |||||||
| 32,566 (1)(2) | Sequoia Mortgage Trust 2019-CH2 A1, 4.500%, 08/25/2049 | 32,280 | 0.0 | |||||||
| 152,555 (1)(2) | Sequoia Mortgage Trust 2019-CH3 A13, 4.000%, 09/25/2049 | 146,162 | 0.0 | |||||||
| 1,799,890 (1)(2) | Sequoia Mortgage Trust 2019-CH3 B1B, 4.502%, 09/25/2049 | 1,722,968 | 0.1 | |||||||
| 173,074 (1)(2) | Sequoia Mortgage Trust 2020-1 A1, 3.500%, 02/25/2050 | 159,960 | 0.0 | |||||||
| 1,361,874 (1)(2) | Sequoia Mortgage Trust 2020-2 B3, 3.635%, 03/25/2050 | 1,206,158 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
166
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 530,060 (1)(2) | Sequoia Mortgage Trust 2021-3 B3, 2.651%, 05/25/2051 | $ | 432,676 | 0.0 | ||||||
| 1,172,319 (1)(2) | Sequoia Mortgage Trust 2021-5 B3, 3.051%, 07/25/2051 | 955,644 | 0.1 | |||||||
| 1,040,524 (1)(2) | Sequoia Mortgage Trust 2022-1 B3, 2.946%, 02/25/2052 | 866,445 | 0.0 | |||||||
| 2,693,422 (1)(2) | Sequoia Mortgage Trust 2024-3 A19, 6.000%, 04/25/2054 | 2,693,339 | 0.1 | |||||||
| 1,544,794 (2) | Sequoia Mortgage Trust 2024-4 A19, 6.000%, 05/25/2054 | 1,548,608 | 0.1 | |||||||
| 2,000,000 (1)(2) | Sequoia Mortgage Trust 2024-9 A20, 5.500%, 10/25/2054 | 1,989,468 | 0.1 | |||||||
| 2,728,713 (1)(2) | Shellpoint Co.-Originator Trust 2017-2 B3, 3.642%, 10/25/2047 | 2,518,717 | 0.1 | |||||||
| 2,058,346 (1)(2) | Shellpoint Co-Originator Trust 2017-2 B2, 3.642%, 10/25/2047 | 1,904,306 | 0.1 | |||||||
| 2,000,000 (1)(2) | Starwood Mortgage Residential Trust 2022-2 M1, 4.200%, 02/25/2067 | 1,629,521 | 0.1 | |||||||
| 22,151 (1) | Structured Adjustable Rate Mortgage Loan Trust Series 2005-4 3A1, 6.036%, 03/25/2035 | 20,286 | 0.0 | |||||||
| 4,556,412 (1)(2) | Triangle Re Ltd. 2021-3 M1B, 8.180%, (SOFR30A + 2.900%), 02/25/2034 | 4,613,781 | 0.2 | |||||||
| 2,390,209 (1)(2) | UWM Mortgage Trust 2021-INV4 B3, 3.221%, 12/25/2051 | 1,970,722 | 0.1 | |||||||
| 57,138,621 (1)(4) | WaMu Mortgage Pass-Through Certificates 2005-AR1 X, 0.147%, 01/25/2045 | 574 | 0.0 | |||||||
| 20,647,170 (1)(4) | WaMu Mortgage Pass-Through Certificates 2005-AR2 X, 0.089%, 01/25/2045 | 208 | 0.0 | |||||||
| 10,345 (1) | WaMu Mortgage Pass-Through Certificates 2006-AR12 1A1, 4.557%, 10/25/2036 | 9,504 | 0.0 | |||||||
| 51,174 (1) | WaMu Mortgage Pass-Through Certificates 2006-AR12 2A3, 4.020%, 10/25/2036 | 46,716 | 0.0 | |||||||
| 256,702 (1) | WaMu Mortgage Pass-Through Certificates 2006-AR14 1A4, 3.982%, 11/25/2036 | 224,259 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 64,170 (1) | WaMu Mortgage Pass-Through Certificates 2007-HY2 1A1, 4.306%, 12/25/2036 | $ | 57,769 | 0.0 | ||||||
| 328,035 (1) | WaMu Mortgage Pass-Through Certificates 2007-HY3 1A1, 3.818%, 03/25/2037 | 266,734 | 0.0 | |||||||
| 635,490 (1) | WaMu Mortgage Pass-Through Certificates Series 2004-AR7 A6, 6.165%, 07/25/2034 | 601,612 | 0.0 | |||||||
| 100,916 (1) | WaMu Mortgage Pass-Through Certificates Series Trust 2004-AR4 A6, 6.232%, 06/25/2034 | 97,995 | 0.0 | |||||||
| 66,796 (1) | WaMu Mortgage Pass-Through Certificates Series Trust 2006-AR14 1A3, 3.982%, 11/25/2036 | 58,354 | 0.0 | |||||||
| 367,897 (1) | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-10 2A3, 5.750%, (TSFR1M + 1.014%), 11/25/2035 | 314,502 | 0.0 | |||||||
| 435,965 | Washington Mutual Mortgage Pass-Through Certificates WMALT 2005-5 CB3, 5.500%, 07/25/2035 | 406,462 | 0.0 | |||||||
| 556,920 (1) | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-5 2CB2, 5.569%, (TSFR1M + 0.714%), 07/25/2036 | 351,876 | 0.0 | |||||||
| 1,515,192 (1) | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR5 3A, 6.063%, (12MTA + 0.940%), 07/25/2046 | 937,318 | 0.1 | |||||||
| 612,824 (1) | Washington Mutual Mortgage Pass-Through Certificates WMALT 2006-AR6 2A, 6.083%, (12MTA + 0.960%), 08/25/2046 | 336,588 | 0.0 | |||||||
| 390,044 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-10 2A9, 6.000%, 11/25/2035 | 362,422 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
167
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 85,508 | Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust 2005-8 1A2, 5.500%, 10/25/2035 | $ | 78,609 | 0.0 | ||||||
| 17,828 (1) | Wells Fargo Alternative Loan Trust 2007-PA2 2A1, 5.399%, (TSFR1M + 0.544%), 06/25/2037 | 14,566 | 0.0 | |||||||
| 1,252,876 (1)(2) | Wells Fargo Mortgage Backed Securities 2018-1 B3, 3.655%, 07/25/2047 | 1,126,896 | 0.1 | |||||||
| 352,361 (1) | Wells Fargo Mortgage Backed Securities Trust 2006-AR12 1A1, 7.611%, 09/25/2036 | 321,443 | 0.0 | |||||||
| 70,683 (1) | Wells Fargo Mortgage Backed Securities Trust 2007-AR7 A1, 6.234%, 12/28/2037 | 62,530 | 0.0 | |||||||
| 1,431,318 (1)(2) | Wells Fargo Mortgage Backed Securities Trust 2019-4 B3, 3.515%, 09/25/2049 | 1,080,001 | 0.1 | |||||||
| 1,820,198 (1)(2) | Wells Fargo Mortgage Backed Securities Trust 2020-1 B3, 3.372%, 12/25/2049 | 1,582,440 | 0.1 | |||||||
| 2,657,445 (1)(2) | Wells Fargo Mortgage Backed Securities Trust 2020-4 B2, 3.158%, 07/25/2050 | 2,362,483 | 0.1 | |||||||
| 1,846,540 (1)(2) | Wells Fargo Mortgage Backed Securities Trust 2021-1 B3, 2.701%, 12/25/2050 | 1,403,837 | 0.1 | |||||||
| 343,103 (1)(2) | WinWater Mortgage Loan Trust 2015-5 B4, 3.755%, 08/20/2045 | 318,193 | 0.0 | |||||||
| Total Collateralized Mortgage Obligations (Cost $564,940,606) | 535,774,657 | 26.2 | ||||||||
| CORPORATE BONDS/NOTES: 20.2% | ||||||||||
| Basic Materials: 1.4% | ||||||||||
| 1,500,000 | AngloGold Ashanti Holdings PLC, 3.750%, 10/01/2030 | 1,395,945 | 0.1 | |||||||
| 1,400,000 (2) | Antofagasta PLC, 6.250%, 05/02/2034 | 1,497,566 | 0.1 | |||||||
| 1,005,000 (2) | Avient Corp., 6.250%, 11/01/2031 | 1,031,058 | 0.1 | |||||||
| 600,000 (2) | Axalta Coating Systems Dutch Holding B BV, 7.250%, 02/15/2031 | 641,485 | 0.0 | |||||||
| 150,000 (2) | Axalta Coating Systems LLC, 3.375%, 02/15/2029 | 140,582 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Basic Materials: (continued) | ||||||||||
| 700,000 (2) | Cleveland-Cliffs, Inc., 4.625%, 03/01/2029 | $ | 661,518 | 0.0 | ||||||
| 375,000 (2) | Cleveland-Cliffs, Inc., 4.875%, 03/01/2031 | 348,842 | 0.0 | |||||||
| 675,000 (2) | Coeur Mining, Inc., 5.125%, 02/15/2029 | 656,146 | 0.0 | |||||||
| 825,000 (2)(6) | Consolidated Energy Finance SA, 5.625%, 10/15/2028 | 698,248 | 0.0 | |||||||
| 875,000 (2) | Constellium SE, 5.625%, 06/15/2028 | 873,966 | 0.1 | |||||||
| 1,075,000 (2) | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 1,133,117 | 0.1 | |||||||
| 625,000 (2) | Corp Nacional del Cobre de Chile, 6.440%, 01/26/2036 | 681,055 | 0.0 | |||||||
| 925,000 (2) | Hudbay Minerals, Inc., 4.500%, 04/01/2026 | 915,743 | 0.1 | |||||||
| 725,000 (2) | Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.000%, 07/01/2028 | 733,676 | 0.0 | |||||||
| 800,000 (2) | INEOS Quattro Finance 2 PLC, 3.375%, 01/15/2026 | 790,553 | 0.0 | |||||||
| 1,750,000 (2) | Inversiones CMPC SA, 6.125%, 02/26/2034 | 1,859,375 | 0.1 | |||||||
| 925,000 (2)(7) | Iris Holdings, Inc., 8.750% (PIK Rate 8.750%, Cash Rate 9.500%), 02/15/2026 | 866,925 | 0.1 | |||||||
| 1,650,000 (6) | JSW Steel Ltd., 5.050%, 04/05/2032 | 1,518,000 | 0.1 | |||||||
| 1,325,000 (2) | LD Celulose International GmbH, 7.950%, 01/26/2032 | 1,360,113 | 0.1 | |||||||
| 675,000 (2) | LSF11 A5 HoldCo LLC, 6.625%, 10/15/2029 | 657,248 | 0.0 | |||||||
| 900,000 (2) | Mativ Holdings, Inc., 6.875%, 10/01/2026 | 900,157 | 0.1 | |||||||
| 935,000 (2) | Mativ Holdings, Inc., 8.000%, 10/01/2029 | 955,500 | 0.1 | |||||||
| 425,000 (2) | NOVA Chemicals Corp., 8.500%, 11/15/2028 | 454,192 | 0.0 | |||||||
| 200,000 (2) | Novelis Corp., 3.250%, 11/15/2026 | 193,174 | 0.0 | |||||||
| 600,000 (2) | Novelis Corp., 3.875%, 08/15/2031 | 549,097 | 0.0 | |||||||
| 250,000 (2) | Novelis Corp., 4.750%, 01/30/2030 | 242,593 | 0.0 | |||||||
| 675,000 (2) | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/2030 | 626,925 | 0.0 | |||||||
| 1,775,000 (2) | OCP SA, 6.750%, 05/02/2034 | 1,906,741 | 0.1 | |||||||
| 400,000 (2)(6) | Olympus Water US Holding Corp., 4.250%, 10/01/2028 | 382,323 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
168
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Basic Materials: (continued) | ||||||||||
| 400,000 (2) | Olympus Water US Holding Corp., 7.125%, 10/01/2027 | $ | 408,619 | 0.0 | ||||||
| 2,025,000 (2) | Sociedad Quimica y Minera de Chile SA, 5.500%, 09/10/2034 | 2,026,012 | 0.1 | |||||||
| 800,000 (2) | SPCM SA, 3.125%, 03/15/2027 | 764,410 | 0.0 | |||||||
| 810,000 (2) | Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.125%, 04/01/2029 | 394,329 | 0.0 | |||||||
| 28,265,233 | 1.4 | |||||||||
| Communications: 2.3% | ||||||||||
| 1,600,000 (2) | Altice France SA, 5.125%, 07/15/2029 | 1,126,637 | 0.1 | |||||||
| 525,000 (2) | Beasley Mezzanine Holdings LLC, 8.625%, 02/01/2026 | 303,188 | 0.0 | |||||||
| 800,000 (2) | Cablevision Lightpath LLC, 5.625%, 09/15/2028 | 752,050 | 0.0 | |||||||
| 1,750,000 (2)(6) | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 1,587,613 | 0.1 | |||||||
| 1,325,000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 1,146,693 | 0.1 | |||||||
| 1,000,000 (2) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 973,502 | 0.0 | |||||||
| 1,025,000 (2) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 1,009,580 | 0.1 | |||||||
| 300,000 (2) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 299,639 | 0.0 | |||||||
| 850,000 (2) | Connect Finco Sarl / Connect US Finco LLC, 6.750%, 10/01/2026 | 850,000 | 0.0 | |||||||
| 1,200,000 (2)(6) | Connect Finco Sarl / Connect US Finco LLC, 9.000%, 09/15/2029 | 1,162,782 | 0.1 | |||||||
| 1,950,000 (2) | CSC Holdings LLC, 11.250%, 05/15/2028 | 1,883,967 | 0.1 | |||||||
| 2,075,000 | CT Trust, 5.125%, 02/03/2032 | 1,909,934 | 0.1 | |||||||
| 1,375,000 (2) | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.875%, 08/15/2027 | 1,350,989 | 0.1 | |||||||
| 1,300,000 (2) | DISH Network Corp., 11.750%, 11/15/2027 | 1,365,449 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Communications: (continued) | ||||||||||
| 675,000 (2) | GCI LLC, 4.750%, 10/15/2028 | $ | 648,778 | 0.0 | ||||||
| 1,025,000 (2) | Gray Escrow II, Inc., 5.375%, 11/15/2031 | 641,815 | 0.0 | |||||||
| 1,150,000 (2) | Level 3 Financing, Inc., 4.000%, 04/15/2031 | 842,375 | 0.0 | |||||||
| 1,175,000 (2) | Level 3 Financing, Inc., 10.500%, 05/15/2030 | 1,270,469 | 0.1 | |||||||
| 1,200,000 (2) | Match Group Holdings II LLC, 4.625%, 06/01/2028 | 1,167,731 | 0.1 | |||||||
| 1,050,000 (2) | McGraw-Hill Education, Inc., 8.000%, 08/01/2029 | 1,054,638 | 0.1 | |||||||
| 2,831,000 | Meta Platforms, Inc., 4.750%, 08/15/2034 | 2,890,699 | 0.1 | |||||||
| 3,236,000 | Meta Platforms, Inc., 5.400%, 08/15/2054 | 3,392,751 | 0.2 | |||||||
| 3,236,000 | Meta Platforms, Inc., 5.550%, 08/15/2064 | 3,459,143 | 0.2 | |||||||
| 1,040,000 (2) | Newfold Digital Holdings Group, Inc., 6.000%, 02/15/2029 | 697,731 | 0.0 | |||||||
| 675,000 (2)(6) | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | 641,972 | 0.0 | |||||||
| 865,000 (1)(6) | Paramount Global, 6.375%, 03/30/2062 | 800,788 | 0.0 | |||||||
| 300,000 (2) | Sirius XM Radio, Inc., 3.125%, 09/01/2026 | 290,080 | 0.0 | |||||||
| 1,875,000 (2) | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | 1,845,939 | 0.1 | |||||||
| 4,101,000 | Sprint Capital Corp., 6.875%, 11/15/2028 | 4,480,761 | 0.2 | |||||||
| 850,000 (2) | Stagwell Global LLC, 5.625%, 08/15/2029 | 822,450 | 0.0 | |||||||
| 1,200,000 (2)(6) | Univision Communications, Inc., 6.625%, 06/01/2027 | 1,204,715 | 0.1 | |||||||
| 525,000 (2)(6) | Viasat, Inc., 6.500%, 07/15/2028 | 412,447 | 0.0 | |||||||
| 425,000 (2)(6) | Viasat, Inc., 7.500%, 05/30/2031 | 293,131 | 0.0 | |||||||
| 625,000 (2) | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 567,763 | 0.0 | |||||||
| 1,300,000 (2)(6) | Virgin Media Vendor Financing Notes IV DAC, 5.000%, 07/15/2028 | 1,253,957 | 0.1 | |||||||
| 765,000 (2) | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 681,716 | 0.0 | |||||||
| 1,500,000 (2) | Windstream Escrow LLC / Windstream Escrow Finance Corp., 8.250%, 10/01/2031 | 1,526,906 | 0.1 | |||||||
| 46,610,778 | 2.3 | |||||||||
See Accompanying Notes to Financial Statements
169
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: 2.6% | ||||||||||
| 600,000 (2)(6) | Adient Global Holdings Ltd., 4.875%, 08/15/2026 | $ | 594,844 | 0.0 | ||||||
| 300,000 (2)(6) | Adient Global Holdings Ltd., 8.250%, 04/15/2031 | 318,638 | 0.0 | |||||||
| 275,000 (2) | Allison Transmission, Inc., 3.750%, 01/30/2031 | 250,233 | 0.0 | |||||||
| 625,000 (2) | Allison Transmission, Inc., 5.875%, 06/01/2029 | 629,382 | 0.0 | |||||||
| 775,000 (2)(6) | American Airlines, Inc., 7.250%, 02/15/2028 | 794,000 | 0.1 | |||||||
| 145,833 (2) | American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.500%, 04/20/2026 | 145,537 | 0.0 | |||||||
| 525,000 (6) | Asbury Automotive Group, Inc., 4.500%, 03/01/2028 | 511,495 | 0.0 | |||||||
| 475,000 | Asbury Automotive Group, Inc., 4.750%, 03/01/2030 | 455,022 | 0.0 | |||||||
| 75,000 (2) | Bath & Body Works, Inc., 9.375%, 07/01/2025 | 77,186 | 0.0 | |||||||
| 450,000 (2) | Brinker International, Inc., 5.000%, 10/01/2024 | 450,000 | 0.0 | |||||||
| 925,000 (2)(6) | Caesars Entertainment, Inc., 4.625%, 10/15/2029 | 880,473 | 0.1 | |||||||
| 900,000 (2) | Caesars Entertainment, Inc., 7.000%, 02/15/2030 | 940,843 | 0.1 | |||||||
| 525,000 (2) | Carnival Corp., 4.000%, 08/01/2028 | 506,720 | 0.0 | |||||||
| 1,325,000 (2)(6) | Carnival Corp., 6.000%, 05/01/2029 | 1,343,317 | 0.1 | |||||||
| 1,510,500 (2)(7) | Carvana Co., 12.000% (PIK Rate 12.000%, Cash Rate 9.000%), 12/01/2028 | 1,587,683 | 0.1 | |||||||
| 900,000 (2) | CCM Merger, Inc., 6.375%, 05/01/2026 | 901,653 | 0.1 | |||||||
| 800,000 (2) | Cinemark USA, Inc., 7.000%, 08/01/2032 | 835,811 | 0.1 | |||||||
| 108,782 (2) | Delta Air Lines, Inc. / SkyMiles IP Ltd., 4.750%, 10/20/2028 | 108,685 | 0.0 | |||||||
| 700,000 (2) | Dream Finders Homes, Inc., 8.250%, 08/15/2028 | 740,365 | 0.0 | |||||||
| 1,400,000 | Ford Motor Credit Co. LLC, 2.700%, 08/10/2026 | 1,345,839 | 0.1 | |||||||
| 1,250,000 | Ford Motor Credit Co. LLC, 4.125%, 08/17/2027 | 1,217,788 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 725,000 (2) | Foundation Building Materials, Inc., 6.000%, 03/01/2029 | $ | 639,132 | 0.0 | ||||||
| 225,000 (2)(6) | Gap, Inc., 3.625%, 10/01/2029 | 203,748 | 0.0 | |||||||
| 600,000 (2)(6) | Gap, Inc., 3.875%, 10/01/2031 | 525,129 | 0.0 | |||||||
| 605,000 (2) | Gates Corp., 6.875%, 07/01/2029 | 627,448 | 0.0 | |||||||
| 4,125,000 | General Motors Financial Co., Inc., 5.800%, 01/07/2029 | 4,291,814 | 0.2 | |||||||
| 815,000 (2) | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 829,985 | 0.1 | |||||||
| 605,000 (2) | Hilton Domestic Operating Co., Inc., 5.875%, 03/15/2033 | 616,844 | 0.0 | |||||||
| 4,125,000 (2) | Hyundai Capital America, 6.100%, 09/21/2028 | 4,353,896 | 0.2 | |||||||
| 650,000 (2) | Installed Building Products, Inc., 5.750%, 02/01/2028 | 648,326 | 0.0 | |||||||
| 725,000 (2) | Interface, Inc., 5.500%, 12/01/2028 | 711,204 | 0.0 | |||||||
| 200,000 (2) | International Game Technology PLC, 4.125%, 04/15/2026 | 197,519 | 0.0 | |||||||
| 900,000 (2)(6) | International Game Technology PLC, 5.250%, 01/15/2029 | 897,190 | 0.1 | |||||||
| 725,000 (2) | Lithia Motors, Inc., 4.375%, 01/15/2031 | 675,177 | 0.0 | |||||||
| 225,000 | M/I Homes, Inc., 3.950%, 02/15/2030 | 211,465 | 0.0 | |||||||
| 525,000 | M/I Homes, Inc., 4.950%, 02/01/2028 | 516,555 | 0.0 | |||||||
| 325,000 | Macy's Retail Holdings LLC, 4.500%, 12/15/2034 | 272,697 | 0.0 | |||||||
| 450,000 (2) | Macy's Retail Holdings LLC, 6.125%, 03/15/2032 | 436,659 | 0.0 | |||||||
| 800,000 (2) | Melco Resorts Finance Ltd., 5.375%, 12/04/2029 | 752,500 | 0.0 | |||||||
| 400,000 | MGM Resorts International, 4.625%, 09/01/2026 | 397,769 | 0.0 | |||||||
| 400,000 | MGM Resorts International, 4.750%, 10/15/2028 | 392,275 | 0.0 | |||||||
| 225,000 | MGM Resorts International, 6.500%, 04/15/2032 | 229,432 | 0.0 | |||||||
| 1,225,000 (2)(6) | Michaels Cos., Inc., 5.250%, 05/01/2028 | 905,390 | 0.1 | |||||||
| 650,000 | Murphy Oil USA, Inc., 4.750%, 09/15/2029 | 632,379 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
170
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 200,000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | $ | 200,014 | 0.0 | ||||||
| 225,000 (2) | NCL Corp. Ltd., 5.875%, 03/15/2026 | 225,154 | 0.0 | |||||||
| 150,000 (2) | NCL Corp. Ltd., 8.375%, 02/01/2028 | 157,629 | 0.0 | |||||||
| 500,000 (2)(6) | NCL Finance Ltd., 6.125%, 03/15/2028 | 510,355 | 0.0 | |||||||
| 700,000 (2) | Raising Cane's Restaurants LLC, 9.375%, 05/01/2029 | 758,857 | 0.1 | |||||||
| 550,000 (2) | Ritchie Bros Holdings, Inc., 7.750%, 03/15/2031 | 586,443 | 0.0 | |||||||
| 1,935,000 (2) | Royal Caribbean Cruises Ltd., 5.375%, 07/15/2027 | 1,953,632 | 0.1 | |||||||
| 430,000 (2) | Royal Caribbean Cruises Ltd., 5.625%, 09/30/2031 | 435,913 | 0.0 | |||||||
| 825,000 (6) | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 848,082 | 0.1 | |||||||
| 750,000 (2)(6) | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 744,818 | 0.0 | |||||||
| 800,000 (2) | Scientific Games International, Inc., 7.000%, 05/15/2028 | 807,553 | 0.1 | |||||||
| 351,455 (2) | Staples, Inc., 12.750%, 01/15/2030 | 289,088 | 0.0 | |||||||
| 955,000 (2) | Station Casinos LLC, 4.500%, 02/15/2028 | 922,868 | 0.1 | |||||||
| 625,000 (2) | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 557,776 | 0.0 | |||||||
| 150,000 (2) | Tempur Sealy International, Inc., 4.000%, 04/15/2029 | 140,037 | 0.0 | |||||||
| 725,000 | United Airlines Holdings, Inc., 4.875%, 01/15/2025 | 724,266 | 0.0 | |||||||
| 450,000 (2) | United Airlines, Inc., 4.375%, 04/15/2026 | 443,132 | 0.0 | |||||||
| 1,520,000 (2)(6) | Victoria's Secret & Co., 4.625%, 07/15/2029 | 1,343,980 | 0.1 | |||||||
| 1,525,000 (2) | Viking Cruises Ltd., 5.875%, 09/15/2027 | 1,525,002 | 0.1 | |||||||
| 225,000 (2) | Viking Cruises Ltd., 7.000%, 02/15/2029 | 228,011 | 0.0 | |||||||
| 750,000 (2)(6) | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 6.375%, 02/01/2030 | 645,015 | 0.0 | |||||||
| 800,000 (6) | Walgreens Boots Alliance, Inc., 4.800%, 11/18/2044 | 599,307 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 1,000,000 (6) | Walgreens Boots Alliance, Inc., 8.125%, 08/15/2029 | $ | 999,097 | 0.1 | ||||||
| 875,000 (2) | William Carter Co., 5.625%, 03/15/2027 | 873,998 | 0.1 | |||||||
| 950,000 (2) | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.250%, 05/15/2027 | 951,373 | 0.1 | |||||||
| 450,000 (2) | ZF North America Capital, Inc., 4.750%, 04/29/2025 | 446,413 | 0.0 | |||||||
| 440,000 (2) | ZF North America Capital, Inc., 6.875%, 04/14/2028 | 444,519 | 0.0 | |||||||
| 52,962,379 | 2.6 | |||||||||
| Consumer, Non-cyclical: 2.9% | ||||||||||
| 700,000 (2)(6) | 1375209 BC Ltd., 9.000%, 01/30/2028 | 694,421 | 0.0 | |||||||
| 850,000 (2) | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 | 830,509 | 0.1 | |||||||
| 570,000 (2)(6) | AdaptHealth LLC, 4.625%, 08/01/2029 | 528,402 | 0.0 | |||||||
| 805,000 (2)(6) | ADT Security Corp., 4.125%, 08/01/2029 | 769,626 | 0.0 | |||||||
| 550,000 (2) | AHP Health Partners, Inc., 5.750%, 07/15/2029 | 541,551 | 0.0 | |||||||
| 525,000 (2) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 | 491,004 | 0.0 | |||||||
| 575,000 (2) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.875%, 02/15/2028 | 579,275 | 0.0 | |||||||
| 500,000 (2) | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 470,532 | 0.0 | |||||||
| 1,050,000 (2) | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 986,213 | 0.1 | |||||||
| 725,000 (2)(6) | Alta Equipment Group, Inc., 9.000%, 06/01/2029 | 649,914 | 0.0 | |||||||
| 375,000 (2) | APi Group DE, Inc., 4.125%, 07/15/2029 | 352,938 | 0.0 | |||||||
| 425,000 (2) | APi Group DE, Inc., 4.750%, 10/15/2029 | 409,845 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
171
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 1,175,000 (2)(6) | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | $ | 1,202,770 | 0.1 | ||||||
| 650,000 (2) | Bausch & Lomb Escrow Corp., 8.375%, 10/01/2028 | 688,187 | 0.0 | |||||||
| 750,000 (2) | Bausch Health Cos., Inc., 4.875%, 06/01/2028 | 587,621 | 0.0 | |||||||
| 565,000 (2) | Bausch Health Cos., Inc., 6.125%, 02/01/2027 | 510,808 | 0.0 | |||||||
| 775,000 (2) | BellRing Brands, Inc., 7.000%, 03/15/2030 | 811,861 | 0.1 | |||||||
| 310,000 (2)(6) | Brink's Co., 6.500%, 06/15/2029 | 321,423 | 0.0 | |||||||
| 310,000 (2) | Brink's Co., 6.750%, 06/15/2032 | 323,735 | 0.0 | |||||||
| 1,000,000 (2) | Cheplapharm Arzneimittel GmbH, 5.500%, 01/15/2028 | 970,797 | 0.1 | |||||||
| 750,000 (2) | Chobani LLC / Chobani Finance Corp., Inc., 7.625%, 07/01/2029 | 788,528 | 0.0 | |||||||
| 1,575,000 (2) | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 1,450,772 | 0.1 | |||||||
| 1,225,000 (2) | CHS/Community Health Systems, Inc., 5.625%, 03/15/2027 | 1,206,396 | 0.1 | |||||||
| 910,000 (2) | Cimpress PLC, 7.375%, 09/15/2032 | 918,509 | 0.1 | |||||||
| 2,589,000 | Coca-Cola Co., 5.200%, 01/14/2055 | 2,718,465 | 0.1 | |||||||
| 750,000 (2) | CPI CG, Inc., 10.000%, 07/15/2029 | 790,073 | 0.0 | |||||||
| 275,000 (2) | DaVita, Inc., 3.750%, 02/15/2031 | 248,280 | 0.0 | |||||||
| 1,100,000 (2) | DaVita, Inc., 4.625%, 06/01/2030 | 1,049,439 | 0.1 | |||||||
| 5,054,000 (2) | Element Fleet Management Corp., 6.319%, 12/04/2028 | 5,388,360 | 0.3 | |||||||
| 800,000 (2)(6) | Embecta Corp., 5.000%, 02/15/2030 | 737,266 | 0.0 | |||||||
| 1,025,000 (6) | Encompass Health Corp., 4.750%, 02/01/2030 | 1,002,652 | 0.1 | |||||||
| 750,000 (2)(6) | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | 796,411 | 0.1 | |||||||
| 225,000 (2) | Fiesta Purchaser, Inc., 9.625%, 09/15/2032 | 233,468 | 0.0 | |||||||
| 225,000 (2) | Garda World Security Corp., 4.625%, 02/15/2027 | 221,116 | 0.0 | |||||||
| 800,000 (2) | Garda World Security Corp., 6.000%, 06/01/2029 | 768,495 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 650,000 (2) | Graham Holdings Co., 5.750%, 06/01/2026 | $ | 650,373 | 0.0 | ||||||
| 1,000,000 (2)(6) | Jazz Securities DAC, 4.375%, 01/15/2029 | 967,920 | 0.1 | |||||||
| 875,000 (2) | LifePoint Health, Inc., 10.000%, 06/01/2032 | 963,040 | 0.1 | |||||||
| 800,000 (2) | Medline Borrower L.P., 3.875%, 04/01/2029 | 758,092 | 0.0 | |||||||
| 700,000 (2) | Medline Borrower L.P., 5.250%, 10/01/2029 | 687,346 | 0.0 | |||||||
| 1,000,000 | Minerva Luxembourg SA, 4.375%, 03/18/2031 | 892,000 | 0.1 | |||||||
| 1,600,000 (2) | Minerva Luxembourg SA, 8.875%, 09/13/2033 | 1,749,600 | 0.1 | |||||||
| 750,000 (2) | NESCO Holdings II, Inc., 5.500%, 04/15/2029 | 692,113 | 0.0 | |||||||
| 400,000 | New Albertsons L.P., 7.450%, 08/01/2029 | 419,750 | 0.0 | |||||||
| 1,100,000 (2)(6) | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 1,037,060 | 0.1 | |||||||
| 400,000 (2)(6) | Organon & Co / Organon Foreign Debt Co-Issuer BV, 7.875%, 05/15/2034 | 424,280 | 0.0 | |||||||
| 975,000 (2) | Performance Food Group, Inc., 6.125%, 09/15/2032 | 997,528 | 0.1 | |||||||
| 700,000 | Perrigo Finance Unlimited Co., 4.375%, 03/15/2026 | 699,654 | 0.0 | |||||||
| 975,000 | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 983,185 | 0.1 | |||||||
| 675,000 (2) | Post Holdings, Inc., 4.625%, 04/15/2030 | 646,464 | 0.0 | |||||||
| 395,000 (2) | Post Holdings, Inc., 5.625%, 01/15/2028 | 398,723 | 0.0 | |||||||
| 935,000 (2) | Post Holdings, Inc., 6.250%, 10/15/2034 | 943,232 | 0.1 | |||||||
| 190,000 (2) | Post Holdings, Inc., 6.375%, 03/01/2033 | 193,575 | 0.0 | |||||||
| 1,100,000 (2)(6) | Prime Security Services Borrower LLC / Prime Finance, Inc., 6.250%, 01/15/2028 | 1,101,126 | 0.1 | |||||||
| 760,000 (2)(6) | Primo Water Holdings, Inc., 4.375%, 04/30/2029 | 729,461 | 0.0 | |||||||
| 675,000 (2) | Select Medical Corp., 6.250%, 08/15/2026 | 679,653 | 0.0 | |||||||
| 605,000 | Service Corp. International, 5.750%, 10/15/2032 | 609,718 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
172
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 685,000 (2)(6) | Simmons Foods, Inc./Simmons Prepared Foods,, Inc. ./Simmons Pet Food,, Inc../Simmons Feed, 4.625%, 03/01/2029 | $ | 650,568 | 0.0 | ||||||
| 530,000 (2) | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 551,072 | 0.0 | |||||||
| 700,000 (2)(6) | Star Parent, Inc., 9.000%, 10/01/2030 | 752,380 | 0.0 | |||||||
| 640,000 (2) | Teleflex, Inc., 4.250%, 06/01/2028 | 620,422 | 0.0 | |||||||
| 275,000 | Tenet Healthcare Corp., 4.250%, 06/01/2029 | 265,366 | 0.0 | |||||||
| 650,000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 | 648,066 | 0.0 | |||||||
| 1,075,000 (6) | Tenet Healthcare Corp., 6.125%, 10/01/2028 | 1,084,439 | 0.1 | |||||||
| 1,015,000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 1,032,856 | 0.1 | |||||||
| 760,000 (2) | Triton Water Holdings, Inc., 6.250%, 04/01/2029 | 759,920 | 0.0 | |||||||
| 675,000 (2) | United Natural Foods, Inc., 6.750%, 10/15/2028 | 644,444 | 0.0 | |||||||
| 275,000 (6) | United Rentals North America, Inc., 3.750%, 01/15/2032 | 251,306 | 0.0 | |||||||
| 700,000 (6) | United Rentals North America, Inc., 4.875%, 01/15/2028 | 695,360 | 0.0 | |||||||
| 1,460,000 (2) | US Foods, Inc., 5.750%, 04/15/2033 | 1,465,217 | 0.1 | |||||||
| 875,000 (2) | Varex Imaging Corp., 7.875%, 10/15/2027 | 894,064 | 0.1 | |||||||
| 800,000 (2)(6) | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 843,350 | 0.1 | |||||||
| 375,000 (2) | Williams Scotsman International, Inc., 4.625%, 08/15/2028 | 364,824 | 0.0 | |||||||
| 700,000 (2) | Williams Scotsman International, Inc., 6.125%, 06/15/2025 | 699,905 | 0.0 | |||||||
| 60,487,114 | 2.9 | |||||||||
| Energy: 2.4% | ||||||||||
| 500,000 (2) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.375%, 06/15/2029 | 495,171 | 0.0 | |||||||
| 700,000 (2) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.750%, 03/01/2027 | 701,174 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 635,000 (2) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | $ | 638,657 | 0.0 | ||||||
| 400,000 (2) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.625%, 09/01/2032 | 410,478 | 0.0 | |||||||
| 108,000 (2) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.875%, 04/01/2027 | 108,426 | 0.0 | |||||||
| 850,000 (2) | Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 06/30/2029 | 840,419 | 0.1 | |||||||
| 225,000 (2) | Baytex Energy Corp., 7.375%, 03/15/2032 | 224,395 | 0.0 | |||||||
| 825,000 (2) | Baytex Energy Corp., 8.500%, 04/30/2030 | 855,765 | 0.1 | |||||||
| 310,000 | Cenovus Energy, Inc., 5.250%, 06/15/2037 | 306,039 | 0.0 | |||||||
| 975,000 (2) | Chord Energy Corp., 6.375%, 06/01/2026 | 977,941 | 0.1 | |||||||
| 800,000 (2) | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 800,917 | 0.0 | |||||||
| 475,000 (2) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 475,919 | 0.0 | |||||||
| 550,000 (2) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 579,115 | 0.0 | |||||||
| 162,000 | Devon Energy Corp., 4.500%, 01/15/2030 | 160,626 | 0.0 | |||||||
| 275,000 (2) | DT Midstream, Inc., 4.125%, 06/15/2029 | 263,252 | 0.0 | |||||||
| 475,000 (2) | DT Midstream, Inc., 4.375%, 06/15/2031 | 449,988 | 0.0 | |||||||
| 820,000 (2) | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 | 844,956 | 0.1 | |||||||
| 2,500,000 | Ecopetrol SA, 6.875%, 04/29/2030 | 2,503,425 | 0.1 | |||||||
| 1,030,000 | Ecopetrol SA, 8.375%, 01/19/2036 | 1,054,205 | 0.1 | |||||||
| 700,000 (2) | EIG Pearl Holdings Sarl, 3.545%, 08/31/2036 | 623,781 | 0.0 | |||||||
| 340,000 (2) | Empresa Nacional del Petroleo, 5.250%, 11/06/2029 | 345,100 | 0.0 | |||||||
| 1,200,000 | Empresa Nacional del Petroleo, 5.250%, 11/06/2029 | 1,218,000 | 0.1 | |||||||
| 1,425,000 (2) | Empresa Nacional del Petroleo, 5.950%, 07/30/2034 | 1,502,306 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
173
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 900,000 (2) | Encino Acquisition Partners Holdings LLC, 8.500%, 05/01/2028 | $ | 916,790 | 0.1 | ||||||
| 200,000 (2)(6) | Encino Acquisition Partners Holdings LLC, 8.750%, 05/01/2031 | 210,507 | 0.0 | |||||||
| 825,000 (2) | Enerflex Ltd., 9.000%, 10/15/2027 | 853,963 | 0.1 | |||||||
| 2,725,000 (1) | Energy Transfer L.P. G, 7.125%, 12/31/2199 | 2,790,468 | 0.1 | |||||||
| 1,200,000 (6) | EnLink Midstream LLC, 5.375%, 06/01/2029 | 1,231,258 | 0.1 | |||||||
| 425,000 (2) | EQM Midstream Partners L.P., 6.000%, 07/01/2025 | 425,948 | 0.0 | |||||||
| 675,000 (2) | Global Partners L.P. / GLP Finance Corp., 8.250%, 01/15/2032 | 700,710 | 0.0 | |||||||
| 400,000 (2) | Greensaif Pipelines Bidco Sarl, 6.129%, 02/23/2038 | 425,002 | 0.0 | |||||||
| 725,000 (2) | Greensaif Pipelines Bidco Sarl, 6.510%, 02/23/2042 | 784,586 | 0.0 | |||||||
| 425,000 (2) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 5.750%, 02/01/2029 | 413,804 | 0.0 | |||||||
| 450,000 (2) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 439,024 | 0.0 | |||||||
| 450,000 (2) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | 438,510 | 0.0 | |||||||
| 1,575,000 (2)(6) | Hunt Oil Co. of Peru LLC Sucursal Del Peru, 8.550%, 09/18/2033 | 1,774,237 | 0.1 | |||||||
| 775,000 (2)(6) | Kinetik Holdings L.P., 5.875%, 06/15/2030 | 780,906 | 0.0 | |||||||
| 775,000 (2) | Kodiak Gas Services LLC, 7.250%, 02/15/2029 | 802,654 | 0.0 | |||||||
| 200,000 (2) | Matador Resources Co., 6.500%, 04/15/2032 | 199,851 | 0.0 | |||||||
| 900,000 (2) | Matador Resources Co., 6.875%, 04/15/2028 | 916,125 | 0.1 | |||||||
| 1,000,000 | Medco Maple Tree Pte Ltd., 8.960%, 04/27/2029 | 1,059,375 | 0.1 | |||||||
| 785,000 (2) | Moss Creek Resources Holdings, Inc., 8.250%, 09/01/2031 | 775,657 | 0.0 | |||||||
| 775,000 | Murphy Oil Corp., 6.375%, 07/15/2028 | 787,980 | 0.0 | |||||||
| 825,000 (2) | Permian Resources Operating LLC, 5.875%, 07/01/2029 | 824,935 | 0.1 | |||||||
| 300,000 (2) | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 305,061 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 1,000,000 | Petroleos del Peru SA, 4.750%, 06/19/2032 | $ | 791,250 | 0.0 | ||||||
| 3,300,000 | Petroleos Mexicanos, 6.500%, 03/13/2027 | 3,240,600 | 0.2 | |||||||
| 1,475,000 (2) | Pluspetrol Camisea SA / Pluspetrol Lote 56 SA, 6.240%, 07/03/2036 | 1,580,551 | 0.1 | |||||||
| 1,500,000 (2) | Raizen Fuels Finance S.A., 6.450%, 03/05/2034 | 1,582,350 | 0.1 | |||||||
| 1,400,000 (2)(6) | Raizen Fuels Finance SA, 5.700%, 01/17/2035 | 1,392,300 | 0.1 | |||||||
| 415,000 (2) | SM Energy Co., 6.750%, 08/01/2029 | 417,043 | 0.0 | |||||||
| 1,025,000 | Southwestern Energy Co., 5.375%, 02/01/2029 | 1,022,396 | 0.1 | |||||||
| 225,000 (2) | Sunoco L.P., 7.000%, 05/01/2029 | 235,264 | 0.0 | |||||||
| 315,000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 05/15/2029 | 303,090 | 0.0 | |||||||
| 690,000 (6) | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 04/30/2030 | 661,609 | 0.0 | |||||||
| 375,000 (2) | Talos Production, Inc., 9.000%, 02/01/2029 | 386,475 | 0.0 | |||||||
| 500,000 (2) | Talos Production, Inc., 9.375%, 02/01/2031 | 514,488 | 0.0 | |||||||
| 450,000 (2) | Transocean Poseidon Ltd., 6.875%, 02/01/2027 | 450,492 | 0.0 | |||||||
| 120,000 (2) | Transocean Titan Financing Ltd., 8.375%, 02/01/2028 | 123,708 | 0.0 | |||||||
| 800,000 (2) | Venture Global Calcasieu Pass LLC, 4.125%, 08/15/2031 | 744,416 | 0.0 | |||||||
| 920,000 (2) | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 940,573 | 0.1 | |||||||
| 875,000 (2) | Venture Global LNG, Inc., 8.125%, 06/01/2028 | 912,791 | 0.1 | |||||||
| 775,000 (2) | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 818,870 | 0.0 | |||||||
| 50,355,672 | 2.4 | |||||||||
| Financial: 4.7% | ||||||||||
| 390,000 (2) | Acrisure LLC / Acrisure Finance, Inc., 6.000%, 08/01/2029 | 376,495 | 0.0 | |||||||
| 745,000 (2) | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 767,328 | 0.0 | |||||||
| 355,000 (2) | Acrisure LLC / Acrisure Finance, Inc., 8.500%, 06/15/2029 | 371,008 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
174
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 960,000 (2) | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | $ | 971,267 | 0.1 | ||||||
| 800,000 (2) | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 7.375%, 10/01/2032 | 812,082 | 0.1 | |||||||
| 425,000 (6) | Ally Financial, Inc., 5.750%, 11/20/2025 | 426,977 | 0.0 | |||||||
| 350,000 (6) | Ally Financial, Inc., 6.700%, 02/14/2033 | 358,168 | 0.0 | |||||||
| 4,125,000 (1) | American Express Co., 5.282%, 07/27/2029 | 4,273,582 | 0.2 | |||||||
| 800,000 (2) | Aretec Escrow Issuer, Inc., 7.500%, 04/01/2029 | 760,485 | 0.0 | |||||||
| 950,000 (2) | AssuredPartners, Inc., 5.625%, 01/15/2029 | 915,396 | 0.1 | |||||||
| 984,000 (1)(2) | Banco del Estado de Chile, 7.950%, 12/31/2199 | 1,060,260 | 0.1 | |||||||
| 1,300,000 (2) | Bank Gospodarstwa Krajowego, 5.750%, 07/09/2034 | 1,362,348 | 0.1 | |||||||
| 3,000,000 (1) | Bank of America Corp., MTN, 3.384%, 04/02/2026 | 2,976,471 | 0.2 | |||||||
| 825,000 (2) | BroadStreet Partners, Inc., 5.875%, 04/15/2029 | 787,860 | 0.0 | |||||||
| 625,000 (2) | Burford Capital Global Finance LLC, 6.875%, 04/15/2030 | 625,288 | 0.0 | |||||||
| 4,125,000 | Crown Castle, Inc., 5.600%, 06/01/2029 | 4,314,048 | 0.2 | |||||||
| 1,800,000 (1)(2) | Danske Bank A/S, 6.466%, 01/09/2026 | 1,806,109 | 0.1 | |||||||
| 835,000 (2) | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 843,514 | 0.1 | |||||||
| 725,000 (2) | Freedom Mortgage Corp., 6.625%, 01/15/2027 | 727,255 | 0.0 | |||||||
| 430,000 (2) | Freedom Mortgage Corp., 12.250%, 10/01/2030 | 481,970 | 0.0 | |||||||
| 175,000 (2) | Freedom Mortgage Holdings LLC, 9.125%, 05/15/2031 | 180,138 | 0.0 | |||||||
| 4,000 (1) | Goldman Sachs Group, Inc., 5.330%, 07/23/2035 | 4,145 | 0.0 | |||||||
| 8,251,000 (1) | Goldman Sachs Group, Inc., 5.727%, 04/25/2030 | 8,673,235 | 0.4 | |||||||
| 2,000,000 (1) | JPMorgan Chase & Co., 2.083%, 04/22/2026 | 1,968,469 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 198,000 (1) | JPMorgan Chase & Co., 4.452%, 12/05/2029 | $ | 198,961 | 0.0 | ||||||
| 8,251,000 (1) | JPMorgan Chase & Co., 5.571%, 04/22/2028 | 8,508,451 | 0.4 | |||||||
| 200,000 (2) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/2027 | 195,603 | 0.0 | |||||||
| 675,000 (2) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 659,801 | 0.0 | |||||||
| 4,125,000 (2) | Met Tower Global Funding, 5.250%, 04/12/2029 | 4,313,205 | 0.2 | |||||||
| 400,000 (2) | Midcap Financial Issuer Trust, 5.625%, 01/15/2030 | 369,515 | 0.0 | |||||||
| 515,000 (2) | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 499,380 | 0.0 | |||||||
| 4,020,000 (1) | Mitsubishi UFJ Financial Group, Inc., 5.258%, 04/17/2030 | 4,158,947 | 0.2 | |||||||
| 2,000,000 (1) | Morgan Stanley, 0.985%, 12/10/2026 | 1,917,084 | 0.1 | |||||||
| 2,000,000 (1) | Morgan Stanley, 2.188%, 04/28/2026 | 1,969,092 | 0.1 | |||||||
| 2,500,000 (1) | Morgan Stanley, 4.679%, 07/17/2026 | 2,497,089 | 0.1 | |||||||
| 5,000 (1) | Morgan Stanley, 5.466%, 01/18/2035 | 5,230 | 0.0 | |||||||
| 7,000 (1) | Morgan Stanley, 5.831%, 04/19/2035 | 7,522 | 0.0 | |||||||
| 16,000 (1) | Morgan Stanley, 6.627%, 11/01/2034 | 18,104 | 0.0 | |||||||
| 61,000 (1) | Morgan Stanley, MTN, 5.424%, 07/21/2034 | 63,640 | 0.0 | |||||||
| 8,251,000 (1) | Morgan Stanley, MTN, 5.652%, 04/13/2028 | 8,519,145 | 0.4 | |||||||
| 675,000 (6) | MPT Operating Partnership L.P. / MPT Finance Corp., 4.625%, 08/01/2029 | 543,616 | 0.0 | |||||||
| 825,000 (6) | MPT Operating Partnership L.P. / MPT Finance Corp., 5.000%, 10/15/2027 | 740,840 | 0.0 | |||||||
| 575,000 (2) | Nationstar Mortgage Holdings, Inc., 5.000%, 02/01/2026 | 572,687 | 0.0 | |||||||
| 875,000 (2) | Nationstar Mortgage Holdings, Inc., 5.125%, 12/15/2030 | 840,096 | 0.1 | |||||||
| 350,000 (6) | Navient Corp., 5.000%, 03/15/2027 | 347,182 | 0.0 | |||||||
| 250,000 | Navient Corp., 6.750%, 06/25/2025 | 251,729 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
175
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 340,000 (6) | OneMain Finance Corp., 4.000%, 09/15/2030 | $ | 303,104 | 0.0 | ||||||
| 800,000 (6) | OneMain Finance Corp., 5.375%, 11/15/2029 | 769,450 | 0.0 | |||||||
| 325,000 | OneMain Finance Corp., 7.125%, 03/15/2026 | 332,044 | 0.0 | |||||||
| 825,000 (2) | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 865,998 | 0.1 | |||||||
| 850,000 (2) | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 884,314 | 0.1 | |||||||
| 10,000 (1) | PNC Financial Services Group, Inc., 6.037%, 10/28/2033 | 10,811 | 0.0 | |||||||
| 600,000 (2) | PRA Group, Inc., 5.000%, 10/01/2029 | 552,500 | 0.0 | |||||||
| 165,000 (2) | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 04/01/2032 | 170,641 | 0.0 | |||||||
| 925,000 (2) | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 968,719 | 0.1 | |||||||
| 375,000 (2) | RLJ Lodging Trust L.P., 3.750%, 07/01/2026 | 367,015 | 0.0 | |||||||
| 975,000 (2) | Ryan Specialty LLC, 5.875%, 08/01/2032 | 991,917 | 0.1 | |||||||
| 4,194,000 | Sumitomo Mitsui Financial Group, Inc., 5.316%, 07/09/2029 | 4,366,343 | 0.2 | |||||||
| 125,000 (2) | United Wholesale Mortgage LLC, 5.500%, 11/15/2025 | 124,870 | 0.0 | |||||||
| 1,030,000 (2) | United Wholesale Mortgage LLC, 5.750%, 06/15/2027 | 1,024,161 | 0.1 | |||||||
| 760,000 (2) | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 797,707 | 0.1 | |||||||
| 2,000,000 (1) | Wells Fargo & Co., MTN, 4.540%, 08/15/2026 | 1,996,996 | 0.1 | |||||||
| 8,251,000 (1) | Wells Fargo & Co., MTN, 5.707%, 04/22/2028 | 8,521,283 | 0.4 | |||||||
| 200,000 (2) | XHR LP, 6.375%, 08/15/2025 | 200,140 | 0.0 | |||||||
| 96,288,830 | 4.7 | |||||||||
| Industrial: 2.3% | ||||||||||
| 650,000 (2) | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 676,576 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 1,400,000 (2) | Aeropuertos Dominicanos Siglo XXI SA, 7.000%, 06/30/2034 | $ | 1,466,360 | 0.1 | ||||||
| 910,000 (2) | Arcosa, Inc., 6.875%, 08/15/2032 | 953,138 | 0.1 | |||||||
| 800,000 (2) | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 4.000%, 09/01/2029 | 714,826 | 0.0 | |||||||
| 4,190,000 (2) | BAE Systems PLC, 5.125%, 03/26/2029 | 4,313,129 | 0.2 | |||||||
| 475,000 (2)(6) | Bombardier, Inc., 7.500%, 02/01/2029 | 503,006 | 0.0 | |||||||
| 312,000 (2) | Bombardier, Inc., 7.875%, 04/15/2027 | 313,071 | 0.0 | |||||||
| 200,000 (2)(6) | Bombardier, Inc., 8.750%, 11/15/2030 | 219,865 | 0.0 | |||||||
| 875,000 (2) | Brundage-Bone Concrete Pumping Holdings, Inc., 6.000%, 02/01/2026 | 872,294 | 0.1 | |||||||
| 150,000 (2) | Cascades, Inc. / Cascades USA, Inc., 5.125%, 01/15/2026 | 149,073 | 0.0 | |||||||
| 775,000 (2) | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 758,421 | 0.0 | |||||||
| 1,775,000 (1) | Cemex SAB de CV, 5.125%, 12/31/2199 | 1,751,481 | 0.1 | |||||||
| 800,000 (2) | Chart Industries, Inc., 7.500%, 01/01/2030 | 844,141 | 0.0 | |||||||
| 725,000 (2) | Clean Harbors, Inc., 6.375%, 02/01/2031 | 743,385 | 0.0 | |||||||
| 900,000 (2) | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 929,110 | 0.1 | |||||||
| 1,025,000 (2)(6) | Energizer Holdings, Inc., 4.750%, 06/15/2028 | 995,592 | 0.1 | |||||||
| 950,000 (2) | Fortress Transportation and Infrastructure Investors LLC, 5.500%, 05/01/2028 | 946,890 | 0.1 | |||||||
| 1,584,000 (2) | Fortress Transportation and Infrastructure Investors LLC, 5.875%, 04/15/2033 | 1,576,080 | 0.1 | |||||||
| 750,000 (2) | GFL Environmental, Inc., 4.000%, 08/01/2028 | 720,951 | 0.0 | |||||||
| 450,000 (2) | GFL Environmental, Inc., 4.375%, 08/15/2029 | 431,722 | 0.0 | |||||||
| 325,000 (2) | Global Infrastructure Solutions, Inc., 5.625%, 06/01/2029 | 319,185 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
176
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 350,000 (2) | Global Infrastructure Solutions, Inc., 7.500%, 04/15/2032 | $ | 361,095 | 0.0 | ||||||
| 1,025,000 (2) | Graham Packaging Co., Inc., 7.125%, 08/15/2028 | 1,015,934 | 0.1 | |||||||
| 975,000 (2) | Imola Merger Corp., 4.750%, 05/15/2029 | 952,240 | 0.1 | |||||||
| 400,000 (2)(7) | Intelligent Packaging Holdco Issuer L.P., 9.000% (PIK Rate 9.000%, Cash Rate 9.750%), 01/15/2026 | 400,250 | 0.0 | |||||||
| 675,000 (2) | Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, 6.000%, 09/15/2028 | 670,964 | 0.0 | |||||||
| 1,000,000 (2)(6) | IRB Infrastructure Developers Ltd., 7.110%, 03/11/2032 | 1,043,750 | 0.1 | |||||||
| 1,750,000 (2) | Kingston Airport Revenue Finance Ltd., 6.750%, 12/15/2036 | 1,809,500 | 0.1 | |||||||
| 875,000 (2) | Madison IAQ LLC, 5.875%, 06/30/2029 | 852,694 | 0.1 | |||||||
| 800,000 (2) | New Enterprise Stone & Lime Co., Inc., 9.750%, 07/15/2028 | 817,970 | 0.0 | |||||||
| 1,520,000 (2) | Oscar AcquisitionCo LLC / Oscar Finance, Inc., 9.500%, 04/15/2030 | 1,483,124 | 0.1 | |||||||
| 1,150,000 (2)(6) | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 1,182,869 | 0.1 | |||||||
| 4,125,000 (2) | Penske Truck Leasing Co. L.P. / PTL Finance Corp., 5.350%, 03/30/2029 | 4,262,128 | 0.2 | |||||||
| 400,000 (2) | Rolls-Royce PLC, 3.625%, 10/14/2025 | 394,512 | 0.0 | |||||||
| 725,000 (2) | Sealed Air Corp., 4.000%, 12/01/2027 | 701,209 | 0.0 | |||||||
| 425,000 (2) | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | 432,491 | 0.0 | |||||||
| 875,000 (2) | Sensata Technologies, Inc., 3.750%, 02/15/2031 | 802,057 | 0.0 | |||||||
| 2,100,000 (2) | Sisecam UK PLC, 8.250%, 05/02/2029 | 2,171,883 | 0.1 | |||||||
| 900,000 (2) | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 971,711 | 0.1 | |||||||
| 675,000 (2)(6) | Standard Industries, Inc., 3.375%, 01/15/2031 | 601,921 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 425,000 (2) | Standard Industries, Inc., 4.375%, 07/15/2030 | $ | 402,574 | 0.0 | ||||||
| 625,000 (2) | Summit Materials LLC / Summit Materials Finance Corp., 5.250%, 01/15/2029 | 618,716 | 0.0 | |||||||
| 440,000 (2) | Summit Materials LLC / Summit Materials Finance Corp., 6.500%, 03/15/2027 | 441,926 | 0.0 | |||||||
| 775,000 (6) | TransDigm, Inc., 4.625%, 01/15/2029 | 749,073 | 0.0 | |||||||
| 700,000 | TransDigm, Inc., 5.500%, 11/15/2027 | 698,123 | 0.0 | |||||||
| 955,000 (2) | TransDigm, Inc., 6.000%, 01/15/2033 | 969,244 | 0.1 | |||||||
| 550,000 (2) | TransDigm, Inc., 6.625%, 03/01/2032 | 573,426 | 0.0 | |||||||
| 650,000 (2) | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/2028 | 633,472 | 0.0 | |||||||
| 1,005,000 (2) | Wilsonart LLC, 11.000%, 08/15/2032 | 1,006,267 | 0.1 | |||||||
| 47,219,419 | 2.3 | |||||||||
| Technology: 0.4% | ||||||||||
| 800,000 (2) | Amentum Escrow Corp., 7.250%, 08/01/2032 | 835,638 | 0.1 | |||||||
| 1,675,000 (2) | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 1,667,984 | 0.1 | |||||||
| 500,000 (2) | Entegris Escrow Corp., 5.950%, 06/15/2030 | 509,728 | 0.0 | |||||||
| 350,000 (2) | Entegris, Inc., 3.625%, 05/01/2029 | 327,419 | 0.0 | |||||||
| 700,000 (2)(6) | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 739,394 | 0.0 | |||||||
| 775,000 (2) | NCR Atleos Escrow Corp., 9.500%, 04/01/2029 | 853,794 | 0.1 | |||||||
| 400,000 (2) | Open Text Corp., 3.875%, 12/01/2029 | 372,218 | 0.0 | |||||||
| 800,000 (2) | Open Text Holdings, Inc., 4.125%, 02/15/2030 | 751,739 | 0.0 | |||||||
| 790,000 (2) | Playtika Holding Corp., 4.250%, 03/15/2029 | 725,691 | 0.0 | |||||||
| 825,000 (2) | UKG, Inc., 6.875%, 02/01/2031 | 853,072 | 0.1 | |||||||
| 7,636,677 | 0.4 | |||||||||
| Utilities: 1.2% | ||||||||||
| 386,052 | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | 349,848 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
177
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 1,278,798 (2) | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | $ | 1,158,872 | 0.1 | ||||||
| 1,500,000 (2) | Alpha Generation LLC, 6.750%, 10/15/2032 | 1,522,084 | 0.1 | |||||||
| 475,000 (2) | Calpine Corp., 4.500%, 02/15/2028 | 464,110 | 0.0 | |||||||
| 400,000 (2) | Calpine Corp., 5.000%, 02/01/2031 | 387,638 | 0.0 | |||||||
| 650,000 (2) | Calpine Corp., 5.125%, 03/15/2028 | 641,435 | 0.0 | |||||||
| 100,000 (2) | Calpine Corp., 5.250%, 06/01/2026 | 99,685 | 0.0 | |||||||
| 1,900,000 (2) | Centrais Eletricas Brasileiras SA, 6.500%, 01/11/2035 | 1,911,704 | 0.1 | |||||||
| 1,225,000 (2) | Comision Federal de Electricidad, 5.700%, 01/24/2030 | 1,230,757 | 0.1 | |||||||
| 1,700,000 (2) | Comision Federal de Electricidad, 6.450%, 01/24/2035 | 1,697,450 | 0.1 | |||||||
| 225,000 (2) | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.250%, 01/31/2041 | 234,281 | 0.0 | |||||||
| 800,000 (2) | Lightning Power LLC, 7.250%, 08/15/2032 | 841,918 | 0.1 | |||||||
| 3,681,000 (1) | National Rural Utilities Cooperative Finance Corp., 8.427%, (TSFR3M + 3.172%), 04/30/2043 | 3,682,899 | 0.2 | |||||||
| 2,875,000 (1) | NextEra Energy Capital Holdings, Inc., 5.650%, 05/01/2079 | 2,866,002 | 0.2 | |||||||
| 1,950,000 (2) | Niagara Energy SAC, 5.746%, 10/03/2034 | 1,960,725 | 0.1 | |||||||
| 2,950,000 | South Jersey Industries, Inc., 5.020%, 04/15/2031 | 2,410,991 | 0.1 | |||||||
| 700,000 | TransAlta Corp., 7.750%, 11/15/2029 | 740,001 | 0.0 | |||||||
| 475,000 (2) | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | 460,119 | 0.0 | |||||||
| 750,000 (2) | Vistra Operations Co. LLC, 5.500%, 09/01/2026 | 750,344 | 0.0 | |||||||
| 350,000 (2) | Vistra Operations Co. LLC, 5.625%, 02/15/2027 | 349,722 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||||
| Utilities: (continued) | |||||||||||
| 475,000 (2) | Vistra Operations Co. LLC, 7.750%, 10/15/2031 | $ | 511,750 | 0.0 | |||||||
| 24,272,335 | 1.2 | ||||||||||
| Total Corporate Bonds/ Notes (Cost $405,691,026) | 414,098,437 | 20.2 | |||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: 18.3% | |||||||||||
| 1,971,929 (1)(2) | AREIT LLC 2023-CRE8 A, 7.195%, (TSFR1M + 2.112%), 08/17/2041 | 1,983,178 | 0.1 | ||||||||
| 3,500,000 (1)(2) | ARES1 2024-IND2 A, 6.293%, (TSFR1M + 1.443%), 10/15/2034 | 3,504,157 | 0.2 | ||||||||
| 1,500,000 (2) | ARZ Trust 2024-BILT C, 6.361%, 06/11/2029 | 1,547,721 | 0.1 | ||||||||
| 5,000,000 (1)(2) | BAMLL Trust 2024-BHP A, 7.447%, (TSFR1M + 2.350%), 08/15/2039 | 5,029,181 | 0.2 | ||||||||
| 685,000 (1) | BANK 2017-BNK4 C, 4.372%, 05/15/2050 | 584,791 | 0.0 | ||||||||
| 5,320,000 (1)(2)(4) | BANK 2017-BNK4 XE, 1.635%, 05/15/2050 | 169,486 | 0.0 | ||||||||
| 4,380,000 (2) | BANK 2017-BNK6 D, 3.100%, 07/15/2060 | 3,513,721 | 0.2 | ||||||||
| 16,600,000 (1)(2)(4) | BANK 2017-BNK6 XE, 1.500%, 07/15/2060 | 573,771 | 0.0 | ||||||||
| 9,517,118 (1)(4) | BANK 2019-BN16 XA, 1.096%, 02/15/2052 | 312,564 | 0.0 | ||||||||
| 48,483,359 (1)(4) | BANK 2019-BN17 XA, 1.150%, 04/15/2052 | 1,779,700 | 0.1 | ||||||||
| 28,648,511 (1)(4) | BANK 2019-BN19 XA, 1.070%, 08/15/2061 | 1,094,380 | 0.1 | ||||||||
| 57,560,708 (1)(4) | BANK 2019-BN22 XA, 0.704%, 11/15/2062 | 1,473,931 | 0.1 | ||||||||
| 1,500,000 (1) | BANK 2019-BN24 C, 3.634%, 11/15/2062 | 1,236,633 | 0.1 | ||||||||
| 2,000,000 | BBCMS Mortgage Trust 2024-5C27 A3, 6.014%, 07/15/2057 | 2,118,735 | 0.1 | ||||||||
| 10,151,148 (1)(4) | BBCMS Trust 2021-C10 XA, 1.337%, 07/15/2054 | 597,782 | 0.0 | ||||||||
| 2,000,000 (1)(2) | BDS LLC 2024-FL13 A, 6.776%, (TSFR1M + 1.576%), 09/19/2039 | 2,006,751 | 0.1 | ||||||||
| 1,437,705 (1)(2) | BDS Ltd. 2021-FL10 A, 6.479%, (TSFR1M + 1.464%), 12/16/2036 | 1,436,544 | 0.1 | ||||||||
| 96,585,710 (1)(4) | Benchmark Mortgage Trust 2018-B7 XA, 0.564%, 05/15/2053 | 1,237,108 | 0.1 | ||||||||
| 43,917,576 (1)(4) | Benchmark Mortgage Trust 2019-B10 XA, 1.385%, 03/15/2062 | 1,930,757 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
178
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 42,285,000 (1)(2)(4) | Benchmark Mortgage Trust 2019-B10 XB, 1.077%, 03/15/2062 | $ | 1,530,613 | 0.1 | ||||||
| 40,147,701 (1)(4) | Benchmark Mortgage Trust 2019-B12 XA, 1.209%, 08/15/2052 | 1,490,971 | 0.1 | |||||||
| 3,090,000 (2) | Benchmark Mortgage Trust 2019-B9 D, 3.000%, 03/15/2052 | 1,988,390 | 0.1 | |||||||
| 7,330,000 (1)(2)(4) | Benchmark Mortgage Trust 2019-B9 XD, 2.159%, 03/15/2052 | 529,891 | 0.0 | |||||||
| 950,000 (1) | Benchmark Mortgage Trust 2020-B16 AM, 2.944%, 02/15/2053 | 848,818 | 0.0 | |||||||
| 17,376,618 (1)(4) | Benchmark Mortgage Trust 2021-B24 XA, 1.259%, 03/15/2054 | 849,275 | 0.0 | |||||||
| 9,782,621 (1)(4) | Benchmark Mortgage Trust 2021-B28 XA, 1.377%, 08/15/2054 | 594,834 | 0.0 | |||||||
| 4,000,000 (1) | Benchmark Mortgage Trust 2024-V8 A3, 6.189%, 07/15/2057 | 4,271,174 | 0.2 | |||||||
| 2,000,000 (1)(2) | BFLD Mortgage Trust 2024-WRHS A, 6.589%, (TSFR1M + 1.492%), 08/15/2026 | 2,002,004 | 0.1 | |||||||
| 2,100,000 (1)(2) | BIG Commercial Mortgage Trust 2022-BIG B, 6.838%, (TSFR1M + 1.741%), 02/15/2039 | 2,081,748 | 0.1 | |||||||
| 2,500,000 (1)(2) | BLP Commercial Mortgage Trust 2024-IND2 C, 6.988%, (TSFR1M + 1.891%), 03/15/2041 | 2,494,739 | 0.1 | |||||||
| 2,653,000 (2)(5) | BMD2 Re-Remic Trust 2019-FRR1 3AB, 0.000%, 05/25/2052 | 2,076,317 | 0.1 | |||||||
| 3,002,000 (2) | BMD2 Re-Remic Trust 2019-FRR1 6B10, 2.440%, 05/25/2052 | 2,421,078 | 0.1 | |||||||
| 1,100,000 | BMO Mortgage Trust 2024-5C6 A3, 5.316%, 09/15/2057 | 1,133,743 | 0.1 | |||||||
| 4,100,000 (1)(2) | BMP 2024-MF23 C, 6.938%, (TSFR1M + 1.841%), 06/15/2041 | 4,092,807 | 0.2 | |||||||
| 2,500,000 (1)(2) | BX 2024-BRVE A, 6.938%, (TSFR1M + 1.841%), 04/15/2026 | 2,503,102 | 0.1 | |||||||
| 5,000,000 (1)(2) | BX 2024-PALM A, 6.638%, (TSFR1M + 1.541%), 06/15/2037 | 5,006,538 | 0.2 | |||||||
| 4,970,000 (1)(2) | BX Commercial Mortgage Trust 2021-21M E, 7.382%, (TSFR1M + 2.285%), 10/15/2036 | 4,914,557 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 3,500,000 (1)(2) | BX Commercial Mortgage Trust 2021-VOLT D, 6.861%, (TSFR1M + 1.764%), 09/15/2036 | $ | 3,466,488 | 0.2 | ||||||
| 1,500,000 (1)(2) | BX Commercial Mortgage Trust 2021-VOLT F, 7.611%, (TSFR1M + 2.514%), 09/15/2036 | 1,490,686 | 0.1 | |||||||
| 2,556,151 (1)(2) | BX Commercial Mortgage Trust 2023-XL3 A, 6.858%, (TSFR1M + 1.761%), 12/09/2040 | 2,568,197 | 0.1 | |||||||
| 2,500,000 (1)(2) | BX Commercial Mortgage Trust 2024-AIR2 A, 6.592%, (TSFR1M + 1.492%), 10/15/2041 | 2,504,155 | 0.1 | |||||||
| 5,000,000 (1)(2) | BX Commercial Mortgage Trust 2024-AIRC A, 6.788%, (TSFR1M + 1.691%), 08/15/2039 | 5,015,199 | 0.2 | |||||||
| 2,000,000 (1)(2) | BX Commercial Mortgage Trust 2024-KING A, 6.638%, (TSFR1M + 1.541%), 05/15/2034 | 2,002,561 | 0.1 | |||||||
| 1,328,182 (1)(2) | BX Commercial Mortgage Trust 2024-MF D, 7.786%, (TSFR1M + 2.690%), 02/15/2039 | 1,328,681 | 0.1 | |||||||
| 1,458,014 (1)(2) | BX Commercial Mortgage Trust 2024-XL4 C, 7.287%, (TSFR1M + 2.191%), 02/15/2039 | 1,460,631 | 0.1 | |||||||
| 4,622,838 (1)(2) | BX Commercial Mortgage Trust 2024-XL5 C, 7.037%, (TSFR1M + 1.941%), 03/15/2041 | 4,611,896 | 0.2 | |||||||
| 3,500,000 (1)(2) | BX Trust 2021-LBA EJV, 7.211%, (TSFR1M + 2.114%), 02/15/2036 | 3,435,434 | 0.2 | |||||||
| 2,767,834 (1)(2) | BX Trust 2021-LBA EV, 7.211%, (TSFR1M + 2.114%), 02/15/2036 | 2,704,909 | 0.1 | |||||||
| 941,921 (1)(2) | BX Trust 2021-SDMF D, 6.598%, (TSFR1M + 1.501%), 09/15/2034 | 923,007 | 0.0 | |||||||
| 1,412,881 (1)(2) | BX Trust 2021-SDMF E, 6.798%, (TSFR1M + 1.701%), 09/15/2034 | 1,372,522 | 0.1 | |||||||
| 800,758 (1)(2) | BX Trust 2022-FOX2 C, 6.406%, (TSFR1M + 1.309%), 04/15/2039 | 780,835 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
179
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,180,000 (1)(2) | BX Trust 2022-LBA6 C, 6.697%, (TSFR1M + 1.600%), 01/15/2039 | $ | 1,169,846 | 0.1 | ||||||
| 1,000,000 (1)(2) | BX Trust 2022-LBA6 D, 7.097%, (TSFR1M + 2.000%), 01/15/2039 | 989,446 | 0.0 | |||||||
| 1,500,000 (1)(2) | BX Trust 2022-VAMF F, 8.396%, (TSFR1M + 3.299%), 01/15/2039 | 1,478,643 | 0.1 | |||||||
| 7,000,000 (2) | BX Trust 2023-LIFE C, 5.884%, 02/15/2028 | 6,715,820 | 0.3 | |||||||
| 2,750,000 (1)(2) | BX Trust 2024-BIO B, 7.038%, (TSFR1M + 1.941%), 02/15/2041 | 2,736,675 | 0.1 | |||||||
| 1,780,334 (1)(2) | BX Trust 2024-CNYN C, 7.038%, (TSFR1M + 1.941%), 04/15/2041 | 1,778,358 | 0.1 | |||||||
| 1,236,343 (1)(2) | BX Trust 2024-CNYN D, 7.787%, (TSFR1M + 2.690%), 04/15/2041 | 1,240,038 | 0.1 | |||||||
| 3,000,000 (1)(2) | BX Trust 2024-VLT4 A, 6.588%, (TSFR1M + 1.491%), 07/15/2029 | 3,004,692 | 0.1 | |||||||
| 4,000,000 (1)(2) | Caliun 2024-SUN A, 6.988%, (TSFR1M + 1.891%), 07/15/2041 | 4,010,407 | 0.2 | |||||||
| 88,844,712 (1)(4) | Cantor Commercial Real Estate Lending 2019-CF1 XA, 1.272%, 05/15/2052 | 3,445,376 | 0.2 | |||||||
| 34,571,616 (1)(4) | Cantor Commercial Real Estate Lending 2019-CF2 XA, 1.311%, 11/15/2052 | 1,520,314 | 0.1 | |||||||
| 1,250,000 (1) | CCUBS Commercial Mortgage Trust 2017-C1 B, 4.159%, 11/15/2050 | 1,175,065 | 0.1 | |||||||
| 6,486,920 (1)(4) | CD Mortgage Trust 2016-CD1 XA, 1.477%, 08/10/2049 | 95,287 | 0.0 | |||||||
| 14,660,000 (1)(2)(4) | CD Mortgage Trust 2016-CD1 XB, 0.810%, 08/10/2049 | 143,328 | 0.0 | |||||||
| 291,791 (1)(2) | Citigroup Commercial Mortgage Trust 2013-GC17 D, 5.245%, 11/10/2046 | 267,115 | 0.0 | |||||||
| 1,000,000 | Citigroup Commercial Mortgage Trust 2015-GC31 A4, 3.762%, 06/10/2048 | 986,598 | 0.0 | |||||||
| 21,084,682 (1)(4) | Citigroup Commercial Mortgage Trust 2017-C4 XA, 1.126%, 10/12/2050 | 488,320 | 0.0 | |||||||
| 37,592,738 (1)(4) | Citigroup Commercial Mortgage Trust 2019-GC41 XA, 1.161%, 08/10/2056 | 1,456,363 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 446,045 (1)(2) | COMM Mortgage Trust 2013-CR10 E, 4.380%, 08/10/2046 | $ | 399,991 | 0.0 | ||||||
| 2,000,000 | COMM Mortgage Trust 2015-CR25 A4, 3.759%, 08/10/2048 | 1,979,651 | 0.1 | |||||||
| 1,000,000 (1) | COMM Mortgage Trust 2015-CR27 B, 4.487%, 10/10/2048 | 944,884 | 0.0 | |||||||
| 9,328,677 (1)(4) | COMM Mortgage Trust 2016-COR1 XA, 1.444%, 10/10/2049 | 151,221 | 0.0 | |||||||
| 1,601,765 | COMM Mortgage Trust 2016-CR28 A4, 3.762%, 02/10/2049 | 1,579,857 | 0.1 | |||||||
| 1,996,702 (1)(4) | COMM Mortgage Trust 2016-CR28 XA, 0.710%, 02/10/2049 | 9,897 | 0.0 | |||||||
| 1,500,000 (1) | COMM Mortgage Trust 2017-COR2 B, 4.206%, 09/10/2050 | 1,415,828 | 0.1 | |||||||
| 5,725,000 (1)(2) | COMM Mortgage Trust 2020-CBM F, 3.754%, 02/10/2037 | 5,351,751 | 0.3 | |||||||
| 4,368,327 (1)(2)(4) | Commercial Mortgage Pass Through Certificates 2012-LTRT XA, 0.928%, 10/05/2030 | 85 | 0.0 | |||||||
| 1,500,000 (1)(2) | CONE Trust 2024-DFW1 A, 6.738%, (TSFR1M + 1.642%), 08/15/2041 | 1,502,653 | 0.1 | |||||||
| 2,200,000 (1) | CSAIL Commercial Mortgage Trust 2020-C19 B, 3.476%, 03/15/2053 | 1,833,234 | 0.1 | |||||||
| 1,250,000 (1)(2) | DBGS 2024-SBL A, 6.979%, (TSFR1M + 1.882%), 08/15/2034 | 1,250,489 | 0.1 | |||||||
| 3,500,000 (1)(2) | DC Trust 2024-HLTN A, 5.933%, 04/13/2040 | 3,573,600 | 0.2 | |||||||
| 2,500,000 (1)(2) | DK Trust 2024-SPBX C, 7.047%, (TSFR1M + 1.950%), 03/15/2034 | 2,491,043 | 0.1 | |||||||
| 2,750,000 (1)(2) | DK Trust 2024-SPBX D, 7.847%, (TSFR1M + 2.750%), 03/15/2034 | 2,742,009 | 0.1 | |||||||
| 2,000,000 (1)(2) | DTP Commercial Mortgage Trust 2023-STE2 A, 6.038%, 01/15/2041 | 2,054,279 | 0.1 | |||||||
| 2,000,000 (2) | ELM Trust 2024-ELM C15, 6.396%, 06/10/2039 | 2,046,622 | 0.1 | |||||||
| 7,759,844 (1)(2) | EQUS Mortgage Trust 2021-EQAZ C, 6.561%, (TSFR1M + 1.464%), 10/15/2038 | 7,704,272 | 0.4 | |||||||
See Accompanying Notes to Financial Statements
180
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 891,035 (1)(2) | Extended Stay America Trust 2021-ESH E, 8.061%, (TSFR1M + 2.964%), 07/15/2038 | $ | 892,665 | 0.0 | ||||||
| 1,782,071 (1)(2) | Extended Stay America Trust 2021-ESH F, 8.911%, (TSFR1M + 3.814%), 07/15/2038 | 1,785,067 | 0.1 | |||||||
| 2,500,000 (2) | Fashion Show Mall LLC 2024-SHOW A, 5.274%, 10/10/2029 | 2,497,852 | 0.1 | |||||||
| 19,883,194 (1)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K109 X1, 1.692%, 04/25/2030 | 1,404,142 | 0.1 | |||||||
| 2,427,218 (1)(4) | Freddie Mac Multifamily Structured Pass Through Certificates K-1521 X1, 1.094%, 08/25/2036 | 196,533 | 0.0 | |||||||
| 9,878,000 (2)(5) | FREMF Mortgage Trust 2019-KG01 C, 0.000%, 05/25/2029 | 6,668,472 | 0.3 | |||||||
| 187,678,386 (2)(4) | FREMF Mortgage Trust 2019-KG01 X2A, 0.100%, 04/25/2029 | 412,329 | 0.0 | |||||||
| 21,120,000 (2)(4) | FREMF Mortgage Trust 2019-KG01 X2B, 0.100%, 05/25/2029 | 72,956 | 0.0 | |||||||
| 3,700,000 (1)(2) | FS Trust 2024-HULA A, 6.908%, (TSFR1M + 1.811%), 08/15/2039 | 3,711,702 | 0.2 | |||||||
| 2,442,000 (2)(5) | GAM RE-REMIC Trust 2022-FRR3 BK61, 0.000%, 11/27/2049 | 2,033,579 | 0.1 | |||||||
| 4,690,000 (2) | GAM RE-REMIC Trust 2022-FRR3 BK71, 1.990%, 11/27/2050 | 3,979,069 | 0.2 | |||||||
| 2,676,000 (2)(5) | GAM RE-REMIC Trust 2022-FRR3 BK89, 0.000%, 01/27/2052 | 1,973,535 | 0.1 | |||||||
| 91,079 (2)(5) | GAM RE-REMIC Trust 2022-FRR3 C728, 0.000%, 08/27/2050 | 90,553 | 0.0 | |||||||
| 1,850,000 (2)(5) | GAM RE-REMIC Trust 2022-FRR3 CK47, 0.000%, 05/27/2048 | 1,748,597 | 0.1 | |||||||
| 1,816,000 (2)(5) | GAM RE-REMIC Trust 2022-FRR3 D728, 0.000%, 08/27/2050 | 1,800,353 | 0.1 | |||||||
| 1,849,000 (2)(5) | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 1,723,292 | 0.1 | |||||||
| 2,975,000 (2) | GAM RE-REMIC TRUST 2021-FRR2 BK78, 2.390%, 09/27/2051 | 2,418,373 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 2,263,000 (2)(5) | GAM RE-REMIC TRUST 2021-FRR2 C730, 0.000%, 09/27/2051 | $ | 2,206,404 | 0.1 | ||||||
| 2,751,000 (2)(5) | GAM RE-REMIC TRUST 2021-FRR2 CK44, 0.000%, 09/27/2051 | 2,666,088 | 0.1 | |||||||
| 2,238,000 (2) | GAM RE-REMIC TRUST 2021-FRR2 CK49, 1.000%, 09/27/2051 | 2,108,848 | 0.1 | |||||||
| 1,900,000 (2)(5) | GAM RE-REMIC TRUST 2021-FRR2 CK78, 0.000%, 09/27/2051 | 1,340,274 | 0.1 | |||||||
| 2,263,000 (2)(5) | GAM RE-REMIC TRUST 2021-FRR2 D730, 0.000%, 09/27/2051 | 2,199,992 | 0.1 | |||||||
| 2,237,000 (2)(5) | GAM RE-REMIC TRUST 2021-FRR2 DK49, 0.000%, 09/27/2051 | 2,054,543 | 0.1 | |||||||
| 2,500,000 (1)(2) | Great Wolf Trust 2024-WOLF D, 7.987%, (TSFR1M + 2.890%), 03/15/2039 | 2,509,110 | 0.1 | |||||||
| 10,000,000 (1)(2) | GS Mortgage Securities Corp. Trust 2021-ARDN B, 6.861%, (TSFR1M + 1.764%), 11/15/2036 | 9,919,332 | 0.5 | |||||||
| 1,000,000 (1) | GS Mortgage Securities Trust 2015-GC30 AS, 3.777%, 05/10/2050 | 975,528 | 0.0 | |||||||
| 1,200,000 (1) | GS Mortgage Securities Trust 2016-GS3 C, 4.104%, 10/10/2049 | 1,090,857 | 0.1 | |||||||
| 500,000 (1) | GS Mortgage Securities Trust 2018-GS9 B, 4.321%, 03/10/2051 | 461,442 | 0.0 | |||||||
| 13,132,125 (1)(4) | GS Mortgage Securities Trust 2019-GC38 XA, 1.170%, 02/10/2052 | 481,372 | 0.0 | |||||||
| 32,783,776 (1)(4) | GS Mortgage Securities Trust 2019-GC40 XA, 1.262%, 07/10/2052 | 1,317,014 | 0.1 | |||||||
| 660,000 | GS Mortgage Securities Trust 2019-GSA1 B, 3.511%, 11/10/2052 | 586,293 | 0.0 | |||||||
| 80,852,861 (1)(4) | GS Mortgage Securities Trust 2019-GSA1 XA, 0.929%, 11/10/2052 | 2,624,468 | 0.1 | |||||||
| 5,000,000 (1)(2) | GSMS Trustair 2024-FAIR A, 6.072%, 07/15/2029 | 5,149,788 | 0.3 | |||||||
| 5,300,000 (2) | HTL Commercial Mortgage Trust 2024-T53 A, 6.071%, 05/10/2039 | 5,421,385 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
181
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,972,300 (1)(2) | INTOWN Mortgage Trust 2022-STAY D, 9.231%, (TSFR1M + 4.134%), 08/15/2039 | $ | 1,981,236 | 0.1 | ||||||
| 4,050,000 (1)(2) | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-MFP E, 7.304%, (TSFR1M + 2.207%), 07/15/2036 | 3,957,935 | 0.2 | |||||||
| 1,300,000 (1)(2) | JP Morgan Chase Commercial Mortgage Securities Trust 2013-C13 F, 3.986%, 01/15/2046 | 997,931 | 0.1 | |||||||
| 750,000 | JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP3 AS, 3.144%, 08/15/2049 | 685,486 | 0.0 | |||||||
| 5,910,000 (1)(2) | JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT FFX, 5.542%, 07/05/2033 | 3,512,902 | 0.2 | |||||||
| 675,000 (1)(2) | JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH E, 7.301%, (TSFR1M + 2.204%), 06/15/2038 | 596,110 | 0.0 | |||||||
| 1,046,487 (1) | JPMBB Commercial Mortgage Securities Trust 2014-C21 C, 4.716%, 08/15/2047 | 1,028,197 | 0.1 | |||||||
| 38,401,857 (1)(4) | JPMBB Commercial Mortgage Securities Trust 2015-C28 XA, 1.003%, 10/15/2048 | 91,963 | 0.0 | |||||||
| 1,500,000 (1) | JPMBB Commercial Mortgage Securities Trust 2015-C29 AS, 3.917%, 05/15/2048 | 1,478,464 | 0.1 | |||||||
| 1,225,000 (1)(2) | JW Commercial Mortgage Trust 2024-MRCO A, 6.704%, (TSFR1M + 1.621%), 06/15/2039 | 1,224,833 | 0.1 | |||||||
| 2,000,000 (1)(2) | KIND Commercial Mortgage Trust 2024-1 A, 6.987%, (TSFR1M + 1.890%), 08/15/2041 | 2,007,100 | 0.1 | |||||||
| 991,720 (1)(2) | KIND Trust 2021-KIND A, 6.164%, (TSFR1M + 1.064%), 08/15/2038 | 976,751 | 0.0 | |||||||
| 5,000,000 (1)(2) | KSL Commercial Mortgage Trust 2023-HT A, 7.387%, (TSFR1M + 2.290%), 12/15/2036 | 5,022,792 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 2,000,000 (1)(2) | LBA Trust 2024-BOLT A, 6.688%, (TSFR1M + 1.591%), 06/15/2026 | $ | 2,003,328 | 0.1 | ||||||
| 3,500,000 (1)(2) | Life Mortgage Trust 2022-BMR2 A1, 6.392%, (TSFR1M + 1.295%), 05/15/2039 | 3,408,696 | 0.2 | |||||||
| 9,395,807 (1)(2)(4) | LSTAR Commercial Mortgage Trust 2017-5 X, 0.989%, 03/10/2050 | 130,697 | 0.0 | |||||||
| 1,312,158 (1)(2) | MCR Mortgage Trust 2024-HTL D, 9.002%, (TSFR1M + 3.905%), 02/15/2037 | 1,317,549 | 0.1 | |||||||
| 1,000,000 (1)(2) | MED Commercial Mortgage Trust 2024-MOB A, 6.688%, (TSFR1M + 1.592%), 05/15/2041 | 997,971 | 0.1 | |||||||
| 4,000,000 (1)(2) | MF1 LLC 2024-FL14 A, 6.702%, (TSFR1M + 1.737%), 03/19/2039 | 4,017,246 | 0.2 | |||||||
| 2,917,165 (1)(2) | MHP 2022-MHIL E, 7.707%, (TSFR1M + 2.611%), 01/15/2027 | 2,890,781 | 0.1 | |||||||
| 2,161,000 (1) | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C22 C, 4.337%, 04/15/2048 | 1,903,862 | 0.1 | |||||||
| 5,287,000 | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C25 D, 3.068%, 10/15/2048 | 4,598,828 | 0.2 | |||||||
| 2,000,000 (1) | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C27 C, 4.635%, 12/15/2047 | 1,910,537 | 0.1 | |||||||
| 14,456,585 (1)(4) | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34 XA, 0.905%, 11/15/2052 | 251,625 | 0.0 | |||||||
| 7,338,833 (1)(4) | Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 2014-C19 XA, 1.056%, 12/15/2047 | 5,737 | 0.0 | |||||||
| 30,541,509 (1)(4) | Morgan Stanley Capital I 2017-HR2 XA, 0.992%, 12/15/2050 | 688,829 | 0.0 | |||||||
| 4,841,000 (1)(2) | Morgan Stanley Capital I Trust 2016-BNK2 D, 3.000%, 11/15/2049 | 2,540,211 | 0.1 | |||||||
| 25,660,000 (1)(2)(4) | Morgan Stanley Capital I Trust 2018-L1 XD, 1.940%, 10/15/2051 | 1,590,670 | 0.1 | |||||||
| 21,556,324 (1)(4) | Morgan Stanley Capital I Trust 2021-L6 XA, 1.289%, 06/15/2054 | 1,044,734 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
182
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,650,000 (1)(2) | MTN Commercial Mortgage Trust 2022-LPFL A, 6.497%, (TSFR1M + 1.397%), 03/15/2039 | $ | 1,640,247 | 0.1 | ||||||
| 5,000,000 (1)(2) | ORL Trust 2023-GLKS A, 7.447%, (TSFR1M + 2.350%), 10/19/2036 | 5,020,673 | 0.2 | |||||||
| 2,000,000 (1)(2) | PFP Ltd. 2024-11 A, 6.915%, (TSFR1M + 1.832%), 09/17/2039 | 2,009,260 | 0.1 | |||||||
| 13,000,000 (2) | Prima Capital CRE Securitization Ltd. 2019-7A D, 4.250%, 12/25/2050 | 11,226,814 | 0.5 | |||||||
| 5,000,000 (2) | RFM Reremic Trust 2022-FRR1 AB55, 0.990%, 03/28/2049 | 4,505,656 | 0.2 | |||||||
| 5,950,000 (1)(2) | RFM Reremic Trust 2022-FRR1 AB60, 2.390%, 11/08/2049 | 5,373,831 | 0.3 | |||||||
| 8,960,000 (1)(2) | RFM Reremic Trust 2022-FRR1 AB64, 2.239%, 03/01/2050 | 8,041,816 | 0.4 | |||||||
| 2,190,000 (2)(5) | RFM Reremic Trust 2022-FRR1 CK55, 0.000%, 03/28/2049 | 1,938,313 | 0.1 | |||||||
| 2,750,000 (2)(5) | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | 2,282,913 | 0.1 | |||||||
| 3,400,000 (1)(2) | SHER Trust 2024-DAL A, 6.737%, (TSFR1M + 1.641%), 04/15/2037 | 3,384,866 | 0.2 | |||||||
| 2,500,000 (1)(2) | SHR Trust 2024-LXRY A, 7.050%, (TSFR1M + 1.950%), 10/15/2041 | 2,505,322 | 0.1 | |||||||
| 3,000,000 (1)(2) | SMRT 2022-MINI E, 7.797%, (TSFR1M + 2.700%), 01/15/2039 | 2,864,592 | 0.1 | |||||||
| 5,000,000 (2) | THPT Mortgage Trust 2023-THL A, 7.227%, 12/10/2034 | 5,194,025 | 0.3 | |||||||
| 791,786 (1)(2) | TTAN 2021-MHC D, 6.961%, (TSFR1M + 1.864%), 03/15/2038 | 786,843 | 0.0 | |||||||
| 2,000,000 (1)(2) | TX Trust 2024-HOU A, 6.688%, (TSFR1M + 1.591%), 06/15/2039 | 1,986,856 | 0.1 | |||||||
| 21,610,649 (1)(4) | UBS Commercial Mortgage Trust 2019-C16 XA, 1.687%, 04/15/2052 | 1,206,177 | 0.1 | |||||||
| 2,000,000 (1) | Wells Fargo Commercial Mortgage Trust 2016-C35 C, 4.176%, 07/15/2048 | 1,894,339 | 0.1 | |||||||
| 1,000,000 (1) | Wells Fargo Commercial Mortgage Trust 2017-C41 B, 4.188%, 11/15/2050 | 953,576 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | |||||||||||
| 2,588,000 | Wells Fargo Commercial Mortgage Trust 2019-C49 B, 4.546%, 03/15/2052 | $ | 2,508,525 | 0.1 | |||||||
| 2,500,000 (2) | Wells Fargo Commercial Mortgage Trust 2021-C59 E, 2.500%, 04/15/2054 | 1,553,852 | 0.1 | ||||||||
| 18,945,426 (1)(4) | Wells Fargo Commercial Mortgage Trust 2021-C59 XA, 1.640%, 04/15/2054 | 1,294,428 | 0.1 | ||||||||
| 1,500,000 (1)(2) | WFLD Mortgage Trust 2014-MONT D, 3.880%, 08/10/2031 | 742,575 | 0.0 | ||||||||
| Total Commercial Mortgage-Backed Securities (Cost $379,268,492) | 374,660,055 | 18.3 | |||||||||
| ASSET-BACKED SECURITIES: 13.3% | |||||||||||
| Home Equity Asset-Backed Securities: 0.5% | |||||||||||
| 1,897,295 (1)(2) | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A2, 6.336%, 02/25/2038 | 1,542,894 | 0.1 | ||||||||
| 2,743,729 (1)(2) | ACE Securities Corp. Mortgage Loan Trust Series 2007-D1 A3, 7.250%, 02/25/2038 | 2,161,291 | 0.1 | ||||||||
| 287,479 (1) | GSAA Home Equity Trust 2006-3 A3, 5.569%, (TSFR1M + 0.714%), 03/25/2036 | 142,865 | 0.0 | ||||||||
| 1,842,688 (1) | GSAA Home Equity Trust 2006-4 4A3, 4.225%, 03/25/2036 | 1,124,997 | 0.1 | ||||||||
| 805,965 (1) | GSAA Home Equity Trust 2007-1 1A1, 5.129%, (TSFR1M + 0.274%), 02/25/2037 | 229,692 | 0.0 | ||||||||
| 790,492 (1) | GSAA Trust 2006-7 AF2, 5.995%, 03/25/2046 | 297,498 | 0.0 | ||||||||
| 701,575 (1) | Morgan Stanley Mortgage Loan Trust 2007-10XS A2, 6.250%, 02/25/2037 | 397,966 | 0.0 | ||||||||
| 319,855 (1) | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 5.429%, (TSFR1M + 0.574%), 02/25/2037 | 287,521 | 0.0 | ||||||||
| 2,772,881 (1) | Renaissance Home Equity Loan Trust 2004-4 MF2, 5.818%, 02/25/2035 | 2,461,780 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
183
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Home Equity Asset-Backed Securities: (continued) | ||||||||||
| 1,000,000 (2) | Unlock HEA Trust 2024-2 A, 6.500%, 10/25/2039 | $ | 998,941 | 0.1 | ||||||
| 9,645,445 | 0.5 | |||||||||
| Other Asset-Backed Securities: 11.9% | ||||||||||
| 1,938,699 (2) | ACHV ABS TRUST 2024-1PL A, 5.900%, 04/25/2031 | 1,956,337 | 0.1 | |||||||
| 1,500,000 (1)(2) | AMMC CLO 25 Ltd. 2022-25A CR, 7.301%, (TSFR3M + 2.000%), 04/15/2035 | 1,501,923 | 0.1 | |||||||
| 2,000,000 (1)(2) | AMMC CLO XI Ltd. 2012-11A CR2, 7.417%, (TSFR3M + 2.162%), 04/30/2031 | 2,002,288 | 0.1 | |||||||
| 2,700,000 (1)(2) | Apidos CLO XXIV 2016-24A BRR, 7.594%, (TSFR3M + 2.312%), 10/20/2030 | 2,704,925 | 0.1 | |||||||
| 2,900,000 (1)(2) | Apidos CLO XXXIII 2020-33A CR, 7.445%, (TSFR3M + 2.162%), 10/24/2034 | 2,903,738 | 0.1 | |||||||
| 742,500 (2) | Applebee's Funding LLC / IHOP Funding LLC 2019-1A A2II, 4.723%, 06/05/2049 | 731,012 | 0.0 | |||||||
| 227,690 (2) | Aqua Finance Trust 2019-A A, 3.140%, 07/16/2040 | 220,636 | 0.0 | |||||||
| 2,810,868 (1)(2) | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 A, 6.561%, (TSFR1M + 1.464%), 11/15/2036 | 2,810,160 | 0.1 | |||||||
| 500,000 (1)(2) | Arbor Realty Commercial Real Estate Notes Ltd. 2021-FL4 D, 8.111%, (TSFR1M + 3.014%), 11/15/2036 | 482,085 | 0.0 | |||||||
| 3,600,000 (1)(2) | Bain Capital CLO Ltd. 2024-1A C, 7.725%, (TSFR3M + 2.400%), 04/16/2037 | 3,635,460 | 0.2 | |||||||
| 1,030,000 (1)(2) | Bain Capital Credit CLO Ltd. 2017-2A CR3, 7.494%, (TSFR3M + 2.200%), 07/25/2037 | 1,040,684 | 0.1 | |||||||
| 2,000,000 (1)(2) | Barings CLO Ltd. 2018-3A C, 7.444%, (TSFR3M + 2.162%), 07/20/2029 | 2,004,698 | 0.1 | |||||||
| 7,000,000 (1)(2) | Benefit Street Partners CLO V-B Ltd. 2018- 5BA CR, 7.447%, (TSFR3M + 2.150%), 07/20/2037 | 7,064,568 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 1,600,000 (1)(2) | Birch Grove Clo 9 Ltd. 2024-9A C, 7.182%, (TSFR3M + 2.000%), 10/22/2037 | $ | 1,602,245 | 0.1 | ||||||
| 1,000,000 (1)(2) | BlueMountain CLO Ltd. 2013-2A CR, 7.494%, (TSFR3M + 2.212%), 10/22/2030 | 1,001,750 | 0.1 | |||||||
| 1,000,000 (1)(2) | BlueMountain CLO Ltd. 2015-4A CR, 7.444%, (TSFR3M + 2.162%), 04/20/2030 | 1,002,165 | 0.1 | |||||||
| 2,000,000 (1)(2) | BlueMountain CLO XXIX Ltd. 2020-29A CR, 7.646%, (TSFR3M + 2.362%), 07/25/2034 | 2,003,248 | 0.1 | |||||||
| 1,250,000 (1)(2) | BlueMountain CLO XXVIII Ltd. 2021-28A C, 7.563%, (TSFR3M + 2.262%), 04/15/2034 | 1,251,250 | 0.1 | |||||||
| 1,866,750 (2) | Bojangles Issuer LLC 2020-1A A2, 3.832%, 10/20/2050 | 1,859,105 | 0.1 | |||||||
| 4,000,000 (1)(2) | Bristol Park CLO Ltd. 2016-1A CR, 7.513%, (TSFR3M + 2.212%), 04/15/2029 | 4,005,628 | 0.2 | |||||||
| 750,000 (1)(2) | Buttermilk Park CLO Ltd. 2018-1A CR, 7.251%, (TSFR3M + 1.950%), 10/15/2031 | 751,187 | 0.0 | |||||||
| 1,000,000 (1)(2) | Carlyle C17 CLO Ltd. C17A BR, 7.367%, (TSFR3M + 2.112%), 04/30/2031 | 1,001,212 | 0.1 | |||||||
| 4,500,000 (1)(2) | Carlyle Global Market Strategies CLO Ltd. 2014-1A CR2, 7.347%, (TSFR3M + 2.062%), 04/17/2031 | 4,510,012 | 0.2 | |||||||
| 4,100,000 (1)(2) | Carlyle US CLO Ltd. 2019-3A BRR, 7.882%, (TSFR3M + 2.600%), 04/20/2037 | 4,149,339 | 0.2 | |||||||
| 4,600,000 (1)(2) | CARLYLE US CLO Ltd. 2017-3A CR2, 7.135%, (TSFR3M + 2.000%), 10/21/2037 | 4,607,714 | 0.2 | |||||||
| 5,500,000 (1)(2) | CIFC Funding Ltd. 2019-2A CR, 7.647%, (TSFR3M + 2.362%), 04/17/2034 | 5,510,235 | 0.3 | |||||||
| 2,600,000 (1)(2) | CIFC Funding Ltd. 2024-3A C, 7.533%, (TSFR3M + 2.200%), 07/21/2037 | 2,630,527 | 0.1 | |||||||
| 5,000,000 (1)(2) | Crown City CLO V 2023-5A BR, 7.882%, (TSFR3M + 2.600%), 04/20/2037 | 5,034,340 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
184
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 613,738 (1) | CWABS Asset-Backed Certificates Trust 2005-AB2 M1, 5.674%, (TSFR1M + 0.819%), 09/25/2035 | $ | 599,096 | 0.0 | ||||||
| 807,500 (2) | DB Master Finance LLC 2019-1A A23, 4.352%, 05/20/2049 | 789,536 | 0.0 | |||||||
| 427,500 (2) | DB Master Finance LLC 2019-1A A2II, 4.021%, 05/20/2049 | 422,528 | 0.0 | |||||||
| 3,987,250 (2) | DB Master Finance LLC 2021-1A A23, 2.791%, 11/20/2051 | 3,500,410 | 0.2 | |||||||
| 3,000,000 (1)(2) | Dewolf Park CLO Ltd. 2017-1A DR, 8.413%, (TSFR3M + 3.112%), 10/15/2030 | 3,006,774 | 0.1 | |||||||
| 556,500 (2) | Domino's Pizza Master Issuer LLC 2015- 1A A2II, 4.474%, 10/25/2045 | 554,423 | 0.0 | |||||||
| 1,034,000 (2) | Domino's Pizza Master Issuer LLC 2017- 1A A23, 4.118%, 07/25/2047 | 1,016,889 | 0.1 | |||||||
| 2,236,100 (2) | Domino's Pizza Master Issuer LLC 2018- 1A A2I, 4.116%, 07/25/2048 | 2,219,251 | 0.1 | |||||||
| 3,408,000 (2) | Domino's Pizza Master Issuer LLC 2019-1A A2, 3.668%, 10/25/2049 | 3,248,897 | 0.2 | |||||||
| 2,079,000 (2) | Driven Brands Funding LLC 2019-1A A2, 4.641%, 04/20/2049 | 2,061,267 | 0.1 | |||||||
| 3,381,375 (2) | DRIVEN BRANDS FUNDING LLC 2019- 2A A2, 3.981%, 10/20/2049 | 3,305,853 | 0.2 | |||||||
| 2,750,000 (1)(2) | Dryden 30 Senior Loan Fund 2013-30A DR, 7.980%, (TSFR3M + 2.862%), 11/15/2028 | 2,748,991 | 0.1 | |||||||
| 1,750,000 (1)(2) | Dryden 55 CLO Ltd. 2018-55A C, 7.463%, (TSFR3M + 2.162%), 04/15/2031 | 1,753,643 | 0.1 | |||||||
| 5,000,000 (1)(2) | Dryden 75 CLO Ltd. 2019-75A CR2, 7.363%, (TSFR3M + 2.062%), 04/15/2034 | 5,003,970 | 0.2 | |||||||
| 4,066,494 (1)(2) | FS Rialto 2021-FL3 A, 6.461%, (TSFR1M + 1.364%), 11/16/2036 | 4,048,191 | 0.2 | |||||||
| 5,650,000 (1)(2) | Invesco US CLO Ltd. 2023-1A CR, 7.682%, (TSFR3M + 2.400%), 04/22/2037 | 5,706,528 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 862,093 (2) | JG Wentworth XLII LLC 2018-2A B, 4.700%, 10/15/2077 | $ | 792,054 | 0.0 | ||||||
| 1,350,000 (1)(2) | LCM XVIII L.P. 18A CR, 7.394%, (TSFR3M + 2.112%), 04/20/2031 | 1,351,639 | 0.1 | |||||||
| 2,800,000 (1)(2) | LCM XXIV Ltd. 24A CR, 7.444%, (TSFR3M + 2.162%), 03/20/2030 | 2,807,697 | 0.1 | |||||||
| 745,905 (2) | LCSS Financing LLC 2018-A A, 4.700%, 12/15/2062 | 673,404 | 0.0 | |||||||
| 3,000,000 (1)(2) | MF1 LLC 2023-FL12 A, 7.031%, (TSFR1M + 2.066%), 10/19/2038 | 3,018,201 | 0.2 | |||||||
| 7,000,000 (1)(2) | MF1 Ltd. 2021-FL6 D, 7.679%, (TSFR1M + 2.664%), 07/16/2036 | 6,689,671 | 0.3 | |||||||
| 3,000,000 (1)(2) | MF1 Ltd. 2021-FL7 AS, 6.579%, (TSFR1M + 1.564%), 10/16/2036 | 2,965,827 | 0.1 | |||||||
| 1,937,327 (1)(2) | MF1 Ltd. 2022-FL8 A, 6.315%, (TSFR1M + 1.350%), 02/19/2037 | 1,932,653 | 0.1 | |||||||
| 1,327,993 (2) | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 1,217,261 | 0.1 | |||||||
| 410,903 (2) | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 390,919 | 0.0 | |||||||
| 527,704 (2) | Mosaic Solar Loan Trust 2018-2GS B, 4.740%, 02/22/2044 | 474,090 | 0.0 | |||||||
| 916,387 (2) | Mosaic Solar Loan Trust 2019-1A A, 4.370%, 12/21/2043 | 875,355 | 0.0 | |||||||
| 426,161 (2) | Mosaic Solar Loan Trust 2019-2A A, 2.880%, 09/20/2040 | 385,521 | 0.0 | |||||||
| 6,204,076 (2) | Mosaic Solar Loan Trust 2024-2A A, 5.600%, 04/22/2052 | 6,273,482 | 0.3 | |||||||
| 711,641 (2) | Mosaic Solar Loans LLC 2017-2A A, 3.820%, 06/22/2043 | 676,478 | 0.0 | |||||||
| 2,625,000 (1)(2) | Neuberger Berman Loan Advisers CLO 24 Ltd. 2017-24A CR2, 7.323%, (TSFR3M + 2.100%), 10/19/2038 | 2,651,001 | 0.1 | |||||||
| 2,300,000 (1)(2) | Neuberger Berman Loan Advisers CLO 33 Ltd. 2019-33A CR, 7.448%, (TSFR3M + 2.162%), 10/16/2033 | 2,302,875 | 0.1 | |||||||
| 4,750,000 (1)(2) | Neuberger Berman Loan Advisers Clo 44 Ltd. 2021-44A C, 7.448%, (TSFR3M + 2.162%), 10/16/2034 | 4,755,163 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
185
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 6,000,000 (1)(2) | Oaktree CLO Ltd. 2021-1A C, 7.513%, (TSFR3M + 2.212%), 07/15/2034 | $ | 6,007,230 | 0.3 | ||||||
| 2,150,000 (1)(2) | Oaktree CLO Ltd. 2024-25A C, 7.804%, (TSFR3M + 2.500%), 04/20/2037 | 2,173,407 | 0.1 | |||||||
| 497,000 (1)(2) | Octagon Investment Partners 30 Ltd. 2017-1A BR, 7.494%, (TSFR3M + 2.212%), 03/17/2030 | 498,045 | 0.0 | |||||||
| 1,000,000 (1)(2) | Octagon Investment Partners 31 Ltd. 2017- 1A DRR, 8.832%, (TSFR3M + 3.550%), 07/20/2030 | 1,004,958 | 0.1 | |||||||
| 4,500,000 (1)(2) | Octagon Investment Partners 32 Ltd. 2017-1A CR, 7.613%, (TSFR3M + 2.312%), 07/15/2029 | 4,506,723 | 0.2 | |||||||
| 8,125,000 (1)(2) | Octagon Investment Partners 43 Ltd. 2019-1A CR, 7.735%, (TSFR3M + 2.450%), 10/25/2032 | 8,175,497 | 0.4 | |||||||
| 4,500,000 (1)(2) | Octagon Investment Partners XIV Ltd. 2012-1A BRR, 7.663%, (TSFR3M + 2.362%), 07/15/2029 | 4,511,601 | 0.2 | |||||||
| 1,500,000 (1)(2) | OHA Credit Funding 9 Ltd. 2021-9A C, 7.441%, (TSFR3M + 2.162%), 07/19/2035 | 1,503,955 | 0.1 | |||||||
| 1,500,000 (1)(2) | OHA Credit Funding 9 Ltd. 2021-9A CR, (TSFR3M + 1.950%), 10/19/2037 | 1,504,031 | 0.1 | |||||||
| 4,250,000 (1)(2) | Palmer Square Loan Funding Ltd. 2021-2A C, 7.790%, (TSFR3M + 2.662%), 05/20/2029 | 4,259,834 | 0.2 | |||||||
| 3,000,000 (1)(2) | Peebles Park CLO Ltd. 2024-1A C, 7.704%, (TSFR3M + 2.400%), 04/21/2037 | 3,042,270 | 0.2 | |||||||
| 32,040 (1) | Popular ABS Mortgage Pass-Through Trust 2005-D A5, 3.423%, 01/25/2036 | 31,774 | 0.0 | |||||||
| 2,358,125 (2) | Primrose Funding LLC 2019-1A A2, 4.475%, 07/30/2049 | 2,321,218 | 0.1 | |||||||
| 1,600,000 (1)(2) | Rad CLO 10 Ltd. 2021-10A C, 7.295%, (TSFR3M + 2.012%), 04/23/2034 | 1,602,414 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 1,100,000 (1)(2) | Recette Clo Ltd. 2015- 1A CRR, 7.294%, (TSFR3M + 2.012%), 04/20/2034 | $ | 1,099,694 | 0.1 | ||||||
| 2,050,000 (1)(2) | Rockland Park CLO Ltd. 2021-1A C, 7.444%, (TSFR3M + 2.162%), 04/20/2034 | 2,052,614 | 0.1 | |||||||
| 2,238,750 (2) | Servpro Master Issuer LLC 2024-1A A2, 6.174%, 01/25/2054 | 2,305,764 | 0.1 | |||||||
| 3,270,000 (1)(2) | Shackleton CLO Ltd. 2019-15A CR, 7.713%, (TSFR3M + 2.412%), 01/15/2032 | 3,281,308 | 0.2 | |||||||
| 21,211 (2) | SoFi Consumer Loan Program Trust 2023-1S A, 5.810%, 05/15/2031 | 21,214 | 0.0 | |||||||
| 1,870,375 (2) | Sonic Capital LLC 2020-1A A2I, 3.845%, 01/20/2050 | 1,817,723 | 0.1 | |||||||
| 1,000,000 (1)(2) | Sound Point CLO VII-R Ltd. 2014-3RA C, 7.795%, (TSFR3M + 2.512%), 10/23/2031 | 1,001,625 | 0.1 | |||||||
| 750,000 (1)(2) | Stewart Park CLO Ltd. 2015-1A DR, 8.163%, (TSFR3M + 2.862%), 01/15/2030 | 751,389 | 0.0 | |||||||
| 4,150,000 (2) | Subway Funding LLC 2024-3A A2II, 5.566%, 07/30/2054 | 4,169,084 | 0.2 | |||||||
| 793,141 (2) | Sunnova Helios II Issuer LLC 2018-1A A, 4.870%, 07/20/2048 | 724,070 | 0.0 | |||||||
| 2,887,380 (2) | Sunnova Helios II Issuer LLC 2018-1A B, 7.710%, 07/20/2048 | 2,433,089 | 0.1 | |||||||
| 1,699,693 (2) | Sunrun Athena Issuer LLC 2018-1 A, 5.310%, 04/30/2049 | 1,649,598 | 0.1 | |||||||
| 3,291,813 (2) | Sunrun Atlas Issuer LLC 2019-2 A, 3.610%, 02/01/2055 | 3,085,623 | 0.2 | |||||||
| 5,404,093 (2) | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 5,221,065 | 0.3 | |||||||
| 1,375,500 (2) | Taco Bell Funding LLC 2021-1A A23, 2.542%, 08/25/2051 | 1,181,434 | 0.1 | |||||||
| 1,000,000 (1)(2) | TCI-Flatiron Clo Ltd. 2017-1A C, 7.213%, (TSFR3M + 2.112%), 11/18/2030 | 1,001,669 | 0.1 | |||||||
| 2,250,000 (1)(2) | TCI-Flatiron Clo Ltd. 2018-1A CR, 7.275%, (TSFR3M + 2.012%), 01/29/2032 | 2,253,098 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
186
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 3,100,000 (1)(2) | TCW CLO Ltd. 2021-1A C, 7.444%, (TSFR3M + 2.162%), 03/18/2034 | $ | 3,104,142 | 0.2 | ||||||
| 6,800,000 (2) | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 6,999,974 | 0.3 | |||||||
| 1,500,000 (1)(2) | Upland CLO Ltd. 2016-1A BR, 7.394%, (TSFR3M + 2.112%), 04/20/2031 | 1,505,094 | 0.1 | |||||||
| 227,641 (2) | Upstart Securitization Trust 2023-1 A, 6.590%, 02/20/2033 | 227,966 | 0.0 | |||||||
| 1,207,429 (2) | Wendy's Funding LLC 2018-1A A2II, 3.884%, 03/15/2048 | 1,173,708 | 0.1 | |||||||
| 3,034,279 (2) | Wendy's Funding LLC 2019-1A A2I, 3.783%, 06/15/2049 | 2,980,883 | 0.1 | |||||||
| 2,000,000 (1)(2) | Wind River CLO Ltd. 2014-1A CRR, 7.491%, (TSFR3M + 2.212%), 07/18/2031 | 2,003,664 | 0.1 | |||||||
| 243,386,458 | 11.9 | |||||||||
| Student Loan Asset-Backed Securities: 0.9% | ||||||||||
| 63,570 (2) | Commonbond Student Loan Trust-GS 2018- CGS C, 4.350%, 02/25/2046 | 56,557 | 0.0 | |||||||
| 434,092 (1)(2) | ELFI Graduate Loan Program LLC 2019-A B, 2.940%, 03/25/2044 | 357,932 | 0.0 | |||||||
| 895,756 (2) | Laurel Road Prime Student Loan Trust 2018-B BFX, 3.720%, 05/26/2043 | 884,785 | 0.0 | |||||||
| 2,622,860 (2) | Navient Private Education Refi Loan Trust 2019-FA A2, 2.600%, 08/15/2068 | 2,515,463 | 0.1 | |||||||
| 4,000,000 (2) | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | 3,615,673 | 0.2 | |||||||
| 1,000,000 (2) | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 | 976,124 | 0.1 | |||||||
| 2,000,000 (2) | Sofi Professional Loan Program LLC 2019- B BFX, 3.730%, 08/17/2048 | 1,852,207 | 0.1 | |||||||
| 3,000,000 (2) | Sofi Professional Loan Program LLC 2019- C BFX, 3.050%, 11/16/2048 | 2,654,565 | 0.1 | |||||||
| 1,000,000 (2) | SoFi Professional Loan Program LLC 2017-E C, 4.160%, 11/26/2040 | 967,390 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Student Loan Asset-Backed Securities: (continued) | ||||||||||
| 1,000,000 (2) | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 | $ | 950,050 | 0.0 | ||||||
| 4,400,000 (2) | SoFi Professional Loan Program Trust 2020-B BFX, 2.730%, 05/15/2046 | 3,636,502 | 0.2 | |||||||
| 18,467,248 | 0.9 | |||||||||
| Total Asset-Backed Securities (Cost $275,674,273) | 271,499,151 | 13.3 | ||||||||
| BANK LOANS: 7.0% | ||||||||||
| Aerospace & Defense: 0.1% | ||||||||||
| 297,580 | Barnes Group Inc., 2024 Refinancing Term Loan, 7.345%, (TSFR3M+2.500%), 09/03/2030 | 298,175 | 0.0 | |||||||
| 603,745 | Dynasty Acquisition Co Inc, 2024 Refi Term B-1 Loan, 8.747%, (TSFR1M+3.500%), 08/24/2028 | 604,897 | 0.0 | |||||||
| 84,321 | Dynasty Acquisition Co Inc, 2024 Refi Term B-2 Loan, 8.345%, (TSFR1M+3.500%), 08/24/2028 | 84,482 | 0.0 | |||||||
| 997,387 | Peraton Corp, Tranche B, 8.953%, (TSFR1M+3.750%), 02/01/2028 | 961,959 | 0.1 | |||||||
| 256,500 | Radar Bidco Sarl, Facility B (USD) Loan, 9.568%, (TSFR3M+4.250%), 03/27/2031 | 256,821 | 0.0 | |||||||
| 2,206,334 | 0.1 | |||||||||
| Air Transport: 0.0% | ||||||||||
| 349,969 | Savage Enterprises LLC, Term Loan B, 7.845%, (TSFR1M+3.250%), 09/15/2028 | 351,375 | 0.0 | |||||||
| Auto Components: 0.1% | ||||||||||
| 509,411 | Holley Purchaser, Inc., Initial Term Loan, 8.710%, (TSFR1M+3.750%), 11/17/2028 | 498,692 | 0.1 | |||||||
| 470,018 | RC Buyer Inc, First Lien Initial Term Loan, 8.460%, (TSFR1M+3.614%), 07/28/2028 | 470,826 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
187
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Auto Components: (continued) | ||||||||||
| 295,250 | RealTruck Goup Inc (fka Truck Hero), Initial Term Loan, 8.460%, (TSFR1M+3.500%), 01/31/2028 | $ | 290,706 | 0.0 | ||||||
| 1,260,224 | 0.1 | |||||||||
| Automotive: 0.0% | ||||||||||
| 283,075 | IXS Holdings Inc, Initial Term Loan, 8.954%, (TSFR6M+4.250%), 03/05/2027 | 276,352 | 0.0 | |||||||
| 148,786 | MajorDrive Holdings IV LLC, Initial Term Loan, 8.865%, (TSFR3M+4.000%), 06/01/2028 | 149,274 | 0.0 | |||||||
| 425,626 | 0.0 | |||||||||
| Basic Materials: 0.2% | ||||||||||
| 255,000 | A-Ap Buyer, Inc., Initial Term Loan, 7.854%, (TSFR3M+7.854%), 08/01/2031 | 256,594 | 0.0 | |||||||
| 198,006 | Arsenal Aic Parent LLC, 2024 Term Loan B, 8.095%, (TSFR1M+8.095%), 08/19/2030 | 198,229 | 0.0 | |||||||
| 398,374 | Consolidated Energy Finance SA, 2024 Incremental Term,Loan, 9.557%, (TSFR3M+4.500%), 11/15/2030 | 375,799 | 0.0 | |||||||
| 500,000 | Covia Holdings Corporation, Take Back Debt Term Loan, 9.580%, (TSFR3M+3.500%), 07/31/2026 | 498,047 | 0.0 | |||||||
| 454,675 | Ineos Finance PLC, 2030 Dollar Term Loans, 8.095%, (US0006M+3.500%), 02/19/2030 | 454,391 | 0.0 | |||||||
| 493,750 | Ineos US Petrochem LLC, 2030 Tranche B Dollar Term Loan, 8.695%, (US0006M+3.750%), 03/14/2030 | 494,778 | 0.0 | |||||||
| 535,381 | Olympus Water US Holding Corporation, Term B-5 Usd Loans, 8.104%, (TSFR3M+8.104%), 06/20/2031 | 536,078 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Basic Materials: (continued) | ||||||||||
| 300,000 (8) | Paint Intermediate III LLC, Paint Intermediate/ Wesco Group Cov-Lite Tlb, 09/11/2031 | $ | 300,000 | 0.0 | ||||||
| 23,819 (8)(9) | Usalco, LLC, Delayed Tl, 03/30/2026 | 23,818 | 0.0 | |||||||
| 231,181 (8) | Usalco, LLC, Term Loan, 09/30/2031 | 231,181 | 0.0 | |||||||
| 565,638 | WR Grace Holdings LLC, Initial Term Loan, 7.854%, (TSFR3M+3.750%), 09/22/2028 | 567,759 | 0.1 | |||||||
| 3,936,674 | 0.2 | |||||||||
| Building & Development: 0.1% | ||||||||||
| 294,123 | Cornerstone Building Brands Inc, New Term Loan B, 8.447%, (TSFR1M+3.350%), 04/12/2028 | 288,608 | 0.0 | |||||||
| 276,578 | LBM Acquisition LLC, First Lien Initial Term Loan, 9.097%, (TSFR1M+3.850%), 12/17/2027 | 275,368 | 0.0 | |||||||
| 386,930 | LHS Borrower, LLC, Initial Term Loan, 9.695%, (US0006M+4.750%), 02/16/2029 | 370,324 | 0.1 | |||||||
| 84,575 | Quikrete Holdings Inc, Term Loan B (2031), 7.345%, (TSFR1M+3.500%), 04/14/2031 | 84,757 | 0.0 | |||||||
| 294,421 | STANDARD INDUSTRIES Inc., Tranche B, 7.692%, (TSFR1M+2.250%), 09/22/2028 | 295,489 | 0.0 | |||||||
| 1,314,546 | 0.1 | |||||||||
| Business Equipment & Services: 0.1% | ||||||||||
| 378,760 | Ensono LP, First Lien Initial Term Loan, 9.361%, (US0001M+4.000%), 05/26/2028 | 378,602 | 0.0 | |||||||
| 506,013 | Open Text Corporation, 2024 Replacement Term Loan, 7.095%, (TSFR1M+2.750%), 01/31/2030 | 508,424 | 0.1 | |||||||
| 417,312 | VM Consolidated Inc, Term B-2 Loan, 7.595%, (TSFR1M+2.750%), 03/24/2028 | 418,442 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
188
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Business Equipment & Services: (continued) | ||||||||||
| 1,037 | West Technology Group, LLC, Term B-3 Loan, 9.502%, (TSFR3M+4.000%), 10/10/2024 | $ | 922 | 0.0 | ||||||
| 1,306,390 | 0.1 | |||||||||
| Chemicals & Plastics: 0.1% | ||||||||||
| 716,640 | Charter Next Generation, Inc., Term Loan, 8.095%, (TSFR1M+3.250%), 12/01/2027 | 717,698 | 0.1 | |||||||
| 248,053 | Geon Performance Solutions LLC, 2024 Refinancing Term Loan, 9.115%, (TSFR3M+4.512%), 08/18/2028 | 249,448 | 0.0 | |||||||
| 473,025 | Herens Holdco Sarl, Facility B USD Loans, 8.629%, (TSFR3M+3.925%), 07/03/2028 | 443,683 | 0.0 | |||||||
| 413,763 | Ineos US Finance LLC, 2028 Dollar Term Loan, 7.445%, (TSFR1M+2.500%), 11/08/2028 | 412,987 | 0.0 | |||||||
| 683,293 | LSF11 A5 Holdco LLC, Term Loan, 8.717%, (US0006M+3.500%), 10/15/2028 | 683,336 | 0.0 | |||||||
| 422,725 | Sparta US HoldCo LLC, First Lien Initial Term Loan, 8.451%, (TSFR1M+3.250%), 08/02/2028 | 423,102 | 0.0 | |||||||
| 2,930,254 | 0.1 | |||||||||
| Commodities: 0.0% | ||||||||||
| 268,962 | Foundation Building Materials Inc, 2024 Incremental Term Loan, 9.252%, (TSFR1M+4.114%), 01/29/2031 | 262,364 | 0.0 | |||||||
| 423,546 | Foundation Building Materials Inc, Initial Term Loan (First Lien), 8.764%, (TSFR3M+3.512%), 01/31/2028 | 413,310 | 0.0 | |||||||
| 428,388 | Specialty Building Products Holdings LLC, First Lien Initial Term Loan, 8.695%, (US0006M+3.750%), 10/15/2028 | 426,263 | 0.0 | |||||||
| 1,101,937 | 0.0 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Communications: 0.3% | ||||||||||
| 155,236 | Acuris Finance US Inc, Initial Dollar Term Loan, 9.485%, (TSFR3M+4.000%), 02/16/2028 | $ | 154,864 | 0.0 | ||||||
| 455,050 | Arches Buyer Inc, Refinancing Term Loan, 8.195%, (TSFR1M+3.350%), 12/06/2027 | 437,464 | 0.0 | |||||||
| 437,800 | Cengage Learning Inc, Term Loan B, 9.538%, (TSFR6M+4.250%), 03/24/2031 | 439,342 | 0.0 | |||||||
| 496,250 | CNT Holdings I Corp, First Lien Initial Term Loan, 8.752%, (TSFR1M+3.500%), 11/08/2027 | 497,973 | 0.0 | |||||||
| 362,234 | Connect US Finco LLC, Amendment No. 4 Term Loan, 9.345%, (TSFR1M+4.500%), 09/13/2029 | 341,066 | 0.0 | |||||||
| 294,263 | Crown Subsea Communications Holding Inc, 2024 Term Loan, 9.252%, (TSFR3M+4.000%), 01/30/2031 | 296,359 | 0.0 | |||||||
| 547,569 | Dotdash Meredith, Inc., Term Loan B, 9.301%, (TSFR1M+3.500%), 12/01/2028 | 548,482 | 0.0 | |||||||
| 446,414 | Gogo Intermediate Holdings LLC, Initial Term Loan, 9.111%, (TSFR1M+3.500%), 04/30/2028 | 421,861 | 0.0 | |||||||
| 625,000 | GoodRX Inc, 2024 Term Loan, 8.595%, (TSFR1M+3.750%), 07/10/2029 | 626,269 | 0.1 | |||||||
| 404,321 | Ion Trading Finance Limited, Replacement 2024 Dollar Term Loans, 9.016%, (TSFR3M+9.016%), 04/03/2028 | 404,968 | 0.0 | |||||||
| 719 | Lumen Technologies, Inc., Term B-1 Loan, 7.319%, (TSFR1M+7.319%), 03/15/2027 | 635 | 0.0 | |||||||
| 719 | Lumen Technologies, Inc., Term B-2 Loan, 7.319%, (TSFR1M+7.319%), 03/15/2027 | 623 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
189
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Communications: (continued) | ||||||||||
| 264,338 | Magnite Inc, New Term Loan, 8.595%, (TSFR1M+8.595%), 02/06/2031 | $ | 266,650 | 0.0 | ||||||
| 467,019 | McGraw-Hill Education Inc, 2024 Term Loan, 8.604%, (TSFR1M+4.000%), 08/01/2031 | 469,354 | 0.0 | |||||||
| 831,212 | MH Sub I LLC, 2023 May New Term Loans, 9.095%, (TSFR1M+4.250%), 05/03/2028 | 826,927 | 0.1 | |||||||
| 635,176 | Proofpoint Inc, 2024 Refinancing Term Loan, 7.845%, (TSFR1M+3.000%), 08/31/2028 | 635,661 | 0.1 | |||||||
| 458,199 | The Knot Worldwide Inc, Term Loan, 9.611%, (TSFR1M+4.500%), 01/31/2028 | 459,917 | 0.0 | |||||||
| 150,000 | TripAdvisor Inc, Initial Term B Loan, 7.595%, (TSFR1M+2.750%), 07/01/2031 | 149,937 | 0.0 | |||||||
| 139,127 | Univision Communications Inc, 2021 Replacement Term Loan, 8.210%, (TSFR1M+8.210%), 03/24/2026 | 139,245 | 0.0 | |||||||
| 219,450 | Univision Communications Inc, 2024 Replacement First-Lien Term Loan, 8.460%, (TSFR1M+8.460%), 07/31/2029 | 214,540 | 0.0 | |||||||
| 7,332,137 | 0.3 | |||||||||
| Consumer, Cyclical: 0.9% | ||||||||||
| 846,628 | 1011778 BC Unlimited Liability Company, Term Loan B-6, 6.595%, (TSFR1M+1.750%), 09/20/2030 | 839,925 | 0.1 | |||||||
| 496,250 | 84 Lumber Company, 2023 Term B-1 Loan, 7.095%, (TSFR1M+7.095%), 12/02/2030 | 498,628 | 0.0 | |||||||
| 656,919 | ABG Intermediate Holdings 2 LLC, 2024 Refinancing Term Loan, 7.997%, (TSFR1M+2.750%), 12/21/2028 | 658,304 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 665,605 | Alterra Mountain Company, TERM LOAN B-4, 8.095%, (TSFR1M+8.095%), 08/17/2028 | $ | 667,269 | 0.1 | ||||||
| 14,511 (8) | AMC Entertainment Holdings Inc, Term B-1 Loan, 04/22/2026 | 14,511 | 0.0 | |||||||
| 130,125 | Amer Sports Company, Initial Usd Term Loans, 8.346%, (TSFR3M+3.250%), 02/17/2031 | 130,532 | 0.0 | |||||||
| 77,206 | American Airlines Inc, Initial Term Loan, 10.294%, (TSFR3M+5.012%), 04/20/2028 | 79,439 | 0.0 | |||||||
| 633,503 (8) | American Axle & Manufacturing Inc., First Lien Term Loan B, 12/12/2029 | 636,274 | 0.0 | |||||||
| 462,719 | American Greetings Corporation, Tranche C Term Loan, 10.595%, (TSFR1M+5.750%), 10/23/2029 | 467,153 | 0.0 | |||||||
| 479,467 | Ascend Learning LLC, Tranche B, 13.850%, (TSFR1M+3.600%), 12/11/2028 | 478,002 | 0.0 | |||||||
| 601,742 | Autokiniton US Holdings Inc, 2024 Replacement Term B Loan, 8.960%, (TSFR3M+4.000%), 04/06/2028 | 602,495 | 0.0 | |||||||
| 492,525 | Caesars Entertainment, Inc., Incremental Term B-1 Loan, 7.595%, (TSFR3M+2.750%), 02/06/2031 | 493,179 | 0.0 | |||||||
| 298,487 | City Football Group Limited, Tl, 7.969%, (TSFR1M+3.262%), 07/21/2030 | 296,248 | 0.0 | |||||||
| 826,928 | Clarios Global LP, 2024 Term Loan B, 7.345%, (TSFR1M+2.500%), 05/06/2030 | 828,650 | 0.1 | |||||||
| 797,119 | Core & Main LP, Tranche D Term Loan, 6.855%, (TSFR1M+6.855%), 07/27/2028 | 797,617 | 0.1 | |||||||
| 518,080 | Dealer Tire Financial LLC, 2024 Tlb B-4, 8.345%, (TSFR1M+3.500%), 07/02/2031 | 520,239 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
190
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 500,000 | Everi Holdings Inc, Term B Loan, 7.460%, (TSFR1M+7.460%), 08/03/2028 | $ | 501,909 | 0.0 | ||||||
| 599,841 | Flutter Entertainment Public Limited Company, Term Loan B, 7.698%, (TSFR3M+2.250%), 11/25/2030 | 601,115 | 0.0 | |||||||
| 73,333 (8)(9) | Formula One Management Limited, Incremental Term Facility, 09/19/2031 | 73,349 | 0.0 | |||||||
| 146,667 (8) | Formula One Management Limited, Term Loan B1, 09/19/2031 | 146,697 | 0.0 | |||||||
| 577,925 | Gates Corporation, Inital B-5 Dollar Term Loan, 7.095%, (TSFR1M+2.250%), 06/04/2031 | 579,633 | 0.0 | |||||||
| 830,000 | Harbor Freight Tools USA Inc, Initial Term Loan, 7.345%, (TSFR1M+2.500%), 06/11/2031 | 818,069 | 0.1 | |||||||
| 246,450 | Hunter Douglas Holding BV, Tranche B-1 Term Loans, 8.571%, (TSFR1M+3.500%), 02/26/2029 | 245,041 | 0.0 | |||||||
| 398,828 | IRB Holding Corp, 2024 Replacement Term B Loan, 8.097%, (TSFR1M+2.750%), 12/15/2027 | 398,820 | 0.0 | |||||||
| 293,525 | Kodiak BP LLC, 2024-1 Term Loan, 8.595%, (TSFR3M+3.750%), 03/17/2028 | 294,993 | 0.0 | |||||||
| 355,000 | Lc Ahab Us Bidco LLC, Initial Term Loan, 8.345%, (TSFR1M+3.500%), 05/01/2031 | 356,997 | 0.0 | |||||||
| 687,776 | Light And Wonder International, Inc., Term Loan B-2, 7.333%, (TSFR1M+7.333%), 04/16/2029 | 686,773 | 0.1 | |||||||
| 678,454 | LS Group OPCO Acquisition LLC, Term Loan B, 7.845%, (TSFR1M+3.000%), 04/15/2031 | 679,514 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 453,863 | Osmosis Buyer Limited, Initial Term B Loans, 8.701%, (TSFR1M+4.000%), 07/31/2028 | $ | 453,811 | 0.0 | ||||||
| 335,000 | Peer Holding III BV, Facility B5, 3.046%, (TSFR3M+3.000%), 06/23/2031 | 336,466 | 0.0 | |||||||
| 347,335 | Penn National Gaming Inc, Term B Facility, 7.695%, (TSFR1M+3.500%), 05/03/2029 | 348,616 | 0.0 | |||||||
| 150,000 | Raising Canes Restaurants LLC, Initial Term Loan, 7.014%, (TSFR1M+7.014%), 09/10/2031 | 150,250 | 0.0 | |||||||
| 79,600 | RealTruck Goup Inc (fka Truck Hero), Second Amendment Incremental Term Loan, 9.960%, (TSFR1M+5.000%), 01/31/2028 | 78,879 | 0.0 | |||||||
| 262,355 | Samsonite International S.A., 2024 Tranche B Term Loan, 6.845%, (TSFR1M+6.845%), 06/21/2030 | 263,339 | 0.0 | |||||||
| 417,900 | Station Casinos LLC, Term B Facility Loans, 7.095%, (TSFR3M+2.250%), 03/07/2031 | 417,090 | 0.0 | |||||||
| 248,312 | TGP Holdings III LLC, First Lien Closing Date Term Loan, 8.195%, (TSFR1M+3.350%), 06/29/2028 | 234,931 | 0.0 | |||||||
| 68,333 | Thor Industries Inc, TERM B-3 USD, 7.095%, (TSFR1M+2.250%), 11/15/2030 | 68,547 | 0.0 | |||||||
| 248,077 | Tory Burch LLC, Initial Term B Loan, 8.210%, (TSFR1M+3.500%), 04/16/2028 | 248,677 | 0.0 | |||||||
| 492,525 | United AirLines Inc, Class B Term Loan, 8.033%, (TSFR3M+2.750%), 02/22/2031 | 494,179 | 0.0 | |||||||
| 660,118 | Whatabrands LLC, Term Loan B, 7.595%, (TSFR1M+2.750%), 08/03/2028 | 659,889 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
191
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 656,203 | White Cap Buyer LLC, Tranche C Term Loan, 8.095%, (TSFR1M+8.095%), 10/19/2029 | $ | 651,840 | 0.0 | ||||||
| 247,691 | Windsor Holdings III LLC, Facility 2024 September Dollar REFI TLB, 8.461%, (TSFR1M+8.461%), 08/01/2030 | 248,929 | 0.0 | |||||||
| 18,046,818 | 0.9 | |||||||||
| Consumer, Non-cyclical: 1.0% | ||||||||||
| 282,043 | Albion Financing 3 SARL, New 2024 Amended Usd Term Loan, 9.826%, (TSFR3M+9.826%), 08/17/2029 | 283,806 | 0.0 | |||||||
| 200,000 | American Airlines Inc, Initial Term Loans, 7.209%, (TSFR6M+3.500%), 06/04/2029 | 198,972 | 0.0 | |||||||
| 489,025 | Auris Luxembourg III SARL, Facility B4, 9.564%, (TSFR6M+4.678%), 02/27/2029 | 489,713 | 0.0 | |||||||
| 466,475 | Avis Budget Car Rental LLC, New Tranche C Term Loan, 7.945%, (TSFR1M+3.100%), 03/16/2029 | 467,291 | 0.0 | |||||||
| 703,399 | Bausch & Lomb Corporation, Initial Term Loan, 8.270%, (TSFR1M+3.350%), 05/10/2027 | 701,543 | 0.1 | |||||||
| 250,000 (8) | Bausch Health Companies Inc, Second Amendment Term Loans, 02/01/2027 | 240,250 | 0.0 | |||||||
| 639,036 | Belron Finance US LLC, 2028 Dollar Incremental Loan, 7.319%, (TSFR1M+2.000%), 04/13/2028 | 639,435 | 0.1 | |||||||
| 497,500 | Camelot US Acquisition I Co, Term Loan B-1, 7.595%, (TSFR1M+3.500%), 01/31/2031 | 497,313 | 0.0 | |||||||
| 424,560 | CHG Healthcare Services Inc, 2024 Term Loan, 8.460%, (TSFR1M+3.614%), 09/29/2028 | 425,584 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 308,450 | Cimpress PLC, 2024 Refinancing Tranche B-1 Term Loan, 7.845%, (TSFR1M+3.000%), 05/17/2028 | $ | 309,028 | 0.0 | ||||||
| 800,975 | Cotiviti Inc, Initial Floating Rate Term Loans, 8.451%, (TSFR1M+3.250%), 08/27/2025 | 800,641 | 0.1 | |||||||
| 497,449 | Electron Bidco Inc., Initial Term Loan, 7.960%, (TSFR1M+7.960%), 11/01/2028 | 498,615 | 0.0 | |||||||
| 423,938 | Fiesta Purchaser, Inc., Initial Term Loan, 8.845%, (TSFR1M+4.000%), 02/12/2031 | 424,799 | 0.0 | |||||||
| 149,250 | Financiere Mendel, Addtl Term Fcaility 1 (USD), 8.354%, (TSFR3M+8.354%), 11/13/2030 | 149,685 | 0.0 | |||||||
| 137,125 | Fleet Midco I Ltd., Facility B2 Term Loan, 7.578%, (TSFR6M+2.750%), 02/21/2031 | 137,125 | 0.0 | |||||||
| 264,338 | Fugue Finance LLC, Dollar Term B-2 Loan, 8.807%, (TSFR3M+3.750%), 02/26/2031 | 266,279 | 0.0 | |||||||
| 314,187 | Fugue Finance LLC, Term B USD, 9.057%, (TSFR3M+4.000%), 01/31/2028 | 316,478 | 0.0 | |||||||
| 371,739 | Garda World Security Corporation, Tenth Additional Term Loan, 8.597%, (TSFR1M+8.597%), 02/01/2029 | 372,145 | 0.0 | |||||||
| 648,660 | Global Medical Response Inc, 2024 Extended Term Loan, 10.844%, (TSFR1M+3.500%), 10/02/2028 | 645,822 | 0.1 | |||||||
| 399,885 | Grifols Worldwide Operations USA Inc, Dollar Tranche B Term Loan, 7.402%, (TSFR3M+7.402%), 11/15/2027 | 389,246 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
192
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 298,500 | HomeServe USA Holding Corp., Amendment No.1 Refinancing Term Loan, 7.211%, (TSFR1M+2.500%), 10/21/2030 | $ | 298,267 | 0.0 | ||||||
| 703,720 | Jazz Financing Lux Sarl, Tranche B-2 Dollar Facility, 7.095%, (TSFR1M+7.095%), 05/05/2028 | 703,768 | 0.1 | |||||||
| 421,184 | Kingpin Intermediate Holdings LLC, 2023 Term Loan B, 8.584%, (TSFR1M+3.500%), 02/08/2028 | 421,184 | 0.0 | |||||||
| 500,260 | Kuehg Corp., Term Loan B, 9.104%, (TSFR3M+4.500%), 06/12/2030 | 502,379 | 0.0 | |||||||
| 299,250 | LifePoint Health Inc, 2024 Incremental Term Loan, 8.965%, (TSFR1M+4.000%), 05/14/2031 | 299,624 | 0.0 | |||||||
| 1,210,455 | Medline Borrower LP, Term Loan B, 7.595%, (TSFR1M+2.750%), 10/23/2028 | 1,212,259 | 0.1 | |||||||
| 484,267 | Medrisk Inc, First Lien Initial Term Loan, 8.695%, (TSFR1M+8.695%), 05/10/2028 | 485,175 | 0.0 | |||||||
| 149,625 | Mister Car Wash Holdings Inc, 2024 Refinancing Term Loans, 7.845%, (TSFR1M+3.000%), 03/21/2031 | 149,959 | 0.0 | |||||||
| 522,460 | Organon & Co, Dollar Term Loan, 7.465%, (TSFR1M+7.465%), 05/14/2031 | 522,242 | 0.0 | |||||||
| 321,047 | Packaging Coordinators Midco Inc., 2024 Replacement Term Loan, 8.095%, (TSFR3M+3.250%), 11/30/2027 | 321,391 | 0.0 | |||||||
| 663,238 | Pegasus Bidco Bv, 2024-1 Term Dollar Loan, 8.868%, (TSFR3M+3.750%), 07/12/2029 | 665,725 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 355,175 | Perrigo Investments, LLC, Initial Term B Loan, 7.195%, (TSFR3M+2.250%), 04/20/2029 | $ | 354,731 | 0.0 | ||||||
| 313,427 | Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions), 2024 Refinancing Term B-1 Loan, 7.445%, (TSFR1M+7.445%), 10/15/2030 | 313,462 | 0.0 | |||||||
| 148,861 | R1 RCM Inc., Initial Term Loan B, 7.845%, (TSFR1M+3.000%), 06/21/2029 | 149,295 | 0.0 | |||||||
| 490,000 | Resonetics LLC, Term B Loans, 8.715%, (TSFR1M+3.750%), 06/18/2031 | 491,072 | 0.0 | |||||||
| 25,238 (9) | Ryan LLC, Delayed Draw Term Loan, 8.800%, (TSFR3M+4.500%), 11/14/2030 | 24,986 | 0.0 | |||||||
| 238,563 | Ryan LLC, Term Loan, 9.856%, (TSFR1M+4.500%), 11/14/2030 | 236,177 | 0.0 | |||||||
| 389,525 | Sigma Bidco BV, Facility B 10, 9.302%, (SOFRRATE+4.410%), 01/03/2028 | 388,600 | 0.0 | |||||||
| 680,000 | Sotera Health Holdings LLC, 2024 Refinancing Term Loans, 8.095%, (TSFR1M+3.250%), 05/23/2031 | 678,725 | 0.1 | |||||||
| 462,666 | Spring Education Group Inc, Initial Term Loans, 8.604%, (TSFR3M+4.000%), 10/04/2030 | 466,599 | 0.0 | |||||||
| 728,881 | Surgery Center Holdings Inc, 2024 Refinancing Term Loans, 7.670%, (TSFR1M+7.670%), 12/19/2030 | 730,210 | 0.1 | |||||||
| 378,650 | Triton Water Holdings Inc, 2024 Incremental Term Loans, 9.335%, (TSFR3M+4.000%), 03/31/2028 | 378,768 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
193
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 445,725 | Trugreen Limited Partnership, Second Refinancing Term Loan (First Lien), 9.347%, (TSFR1M+4.000%), 11/02/2027 | $ | 432,075 | 0.0 | ||||||
| 147,860 | VetStrategy Canada Holdings, Incremental Term Loan B10, 9.393%, (TSFR3M+4.750%), 12/06/2028 | 148,260 | 0.0 | |||||||
| 653,363 | Wand NewCo 3 Inc, Initial Term Loan, 7.854%, (TSFR1M+3.250%), 01/30/2031 | 653,437 | 0.1 | |||||||
| 448,049 | Wcg Intermediate Corp., Term Loan, 8.345%, (TSFR1M+8.345%), 01/08/2027 | 448,749 | 0.0 | |||||||
| 19,730,889 | 1.0 | |||||||||
| Containers & Glass Products: 0.1% | ||||||||||
| 512,400 | Clydesdale Acquisition Holdings, Inc., Term B Loan, 8.020%, (TSFR1M+3.175%), 04/13/2029 | 510,341 | 0.0 | |||||||
| 246,795 | Plaze Inc, 2021-1 Term Loan, 8.710%, (TSFR1M+3.750%), 08/03/2026 | 230,445 | 0.0 | |||||||
| 17,946 | Pretium PKG Holdings Inc, Second Lien Initial Term Loan, 12.068%, (US0006M+6.750%), 10/01/2029 | 7,388 | 0.0 | |||||||
| 161,535 | Pretium PKG Holdings Inc, Third Amendment Tranche A Term Loans, 10.248%, (TSFR3M+5.000%), 10/02/2028 | 164,815 | 0.0 | |||||||
| 567,760 | ProAmpac PG Borrower LLC, 2024 Term Loan B, 9.118%, (TSFR3M+4.000%), 09/15/2028 | 569,712 | 0.1 | |||||||
| 478,989 | TricorBraun Inc, Term Loan, 8.210%, (TSFR1M+3.250%), 03/03/2028 | 470,507 | 0.0 | |||||||
| 360,102 | Trident TPI Holdings Inc., 2021 Term Loan B3, 9.538%, (TSFR3M+4.000%), 09/15/2028 | 361,022 | 0.0 | |||||||
| 2,314,230 | 0.1 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Diversified: 0.0% | ||||||||||
| 462,675 | First Eagle Holdings Inc, Tranche B-2 Term Loans, 8.335%, (TSFR3M+3.000%), 02/22/2029 | $ | 459,061 | 0.0 | ||||||
| Electronics/Electrical: 0.1% | ||||||||||
| 469,905 | Chariot Buyer LLC, Tranche B, 8.600%, (TSFR1M+3.250%), 11/03/2028 | 468,620 | 0.1 | |||||||
| 197,600 | Creation Technologies Inc, Initial Term Loan, 11.080%, (TSFR3M+5.500%), 10/05/2028 | 192,660 | 0.0 | |||||||
| 443,131 | DG Investment Intermediate Holdings 2 Inc, First Lien Closing Date Initial Term Loan, 9.111%, (TSFR1M+3.864%), 03/31/2028 | 442,439 | 0.0 | |||||||
| 210,000 | DG Investment Intermediate Holdings 2 Inc, Second Lien Initial Term Loan, 11.710%, (TSFR1M+6.864%), 03/30/2029 | 197,925 | 0.0 | |||||||
| 385,334 | VC GB Holdings I Corp, First Lien Initial Term Loan, 8.365%, (TSFR3M+3.262%), 07/21/2028 | 384,878 | 0.0 | |||||||
| 1,686,522 | 0.1 | |||||||||
| Energy: 0.2% | ||||||||||
| 377,789 | Brazos Delaware II LLC, Term Loan B, 8.255%, (TSFR6M+3.500%), 02/11/2030 | 378,592 | 0.1 | |||||||
| 195,000 | CPPIB OVM Member U.S. LLC, Initial Term Loans, 7.854%, (TSFR3M+3.250%), 08/07/2031 | 195,609 | 0.0 | |||||||
| 161,337 | GIP III Stetson I LP, Initial Term Loan, 8.747%, (TSFR1M+4.250%), 10/31/2028 | 161,438 | 0.0 | |||||||
| 140,753 | GIP Pilot Acquisition Partners, L.P., 2024 Term Loan B, 7.818%, (TSFR3M+2.500%), 10/04/2030 | 141,193 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
194
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 329,175 | Goodnight Water Solutions Holdings, LLC, Initial Term Loans, 10.095%, (TSFR3M+5.250%), 06/04/2029 | $ | 329,484 | 0.0 | ||||||
| 265,000 | NGP XI Midstream Holdings LLC, Initial Term Loan, 8.604%, (TSFR2M+4.000%), 07/25/2031 | 265,166 | 0.0 | |||||||
| 197,995 | NorthRiver Midstream Finance LP, Term Loan (First Lien), 7.832%, (TSFR3M+2.500%), 08/16/2030 | 198,229 | 0.0 | |||||||
| 616,423 | Oryx Midstream Services Permian Basin LLC, 2024 Refinancing Term Loan, 8.225%, (TSFR1M+3.114%), 10/05/2028 | 617,276 | 0.1 | |||||||
| 310,000 (8) | Rockpoint Gas Storage Partners LP, Tlb, 09/30/2031 | 309,225 | 0.0 | |||||||
| 365,000 | WaterBridge Midstream Operating LLC, Term Loan B, 9.393%, (TSFR3M+4.750%), 06/22/2026 | 353,290 | 0.0 | |||||||
| 350,000 | Waterbridge NDB Operating LLC(f/k/a Waterbridge Midstream Operating LLC), Initial Term Loan, 9.603%, (TSFR3M+9.603%), 05/10/2029 | 349,927 | 0.0 | |||||||
| 3,299,429 | 0.2 | |||||||||
| Financial: 0.8% | ||||||||||
| 350,000 | AAL Delaware Holdco Inc, Initial Term Loan, 8.345%, (TSFR1M+3.500%), 07/30/2031 | 351,859 | 0.0 | |||||||
| 1,318,684 | Acrisure LLC, 2024 Refinancing Term Loan, 8.211%, (TSFR1M+8.211%), 11/06/2030 | 1,308,300 | 0.1 | |||||||
| 707,626 | Alliant Holdings Intermediate LLC, New Term Loan B6, 7.965%, (TSFR1M+7.965%), 11/06/2031 | 704,510 | 0.1 | |||||||
| 298,469 | Allspring Buyer LLC, Term Loan, 8.137%, (TSFR3M+8.137%), 11/01/2028 | 297,723 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 335,000 | Ardonagh Group Finco Pty Ltd, Syndicated Facility B (USD) Loan, 8.535%, (TSFR6M+8.535%), 02/27/2031 | $ | 335,733 | 0.0 | ||||||
| 590,754 | Aretec Group Inc, Term B-2 Loan, 8.845%, (TSFR1M+8.845%), 08/09/2030 | 579,636 | 0.1 | |||||||
| 985,050 | AssuredPartners Inc., 2024 Term Loan, 8.345%, (TSFR1M+3.500%), 02/14/2031 | 985,270 | 0.1 | |||||||
| 1,034,637 | Broadstreet Partners Inc, 2024 Term B Loans, 8.095%, (TSFR3M+2.500%), 06/16/2031 | 1,031,663 | 0.1 | |||||||
| 552,900 | Castlelake Aviation One Designated Activity Company, Initial Term Loan, 7.447%, (TSFR3M+2.500%), 10/22/2026 | 554,887 | 0.0 | |||||||
| 10,329 (9) | Chrysaor Bidco S.A R.L., (Usd) Delayed Tl, 8.830%, (TSFR1M+3.500%), 05/14/2031 | 10,385 | 0.0 | |||||||
| 139,671 | Chrysaor Bidco S.A R.L., (Usd) Tlb, 8.830%, (TSFR1M+3.500%), 07/17/2031 | 140,427 | 0.0 | |||||||
| 424,310 | Citadel Securities LP, Term Loan B (2024), 7.095%, (TSFR1M+2.250%), 07/29/2030 | 424,628 | 0.0 | |||||||
| 150,000 | Cpi Holdco B, LLC, Initial Term Loans, 6.845%, (TSFR1M+2.000%), 05/16/2031 | 149,453 | 0.0 | |||||||
| 503,738 | Cushman & Wakefield US Borrower LLC, 2024-1 Term Loan, 8.595%, (TSFR1M+3.750%), 01/31/2030 | 504,997 | 0.0 | |||||||
| 150,000 | Edelman Financial Engines Center LLC (The), 2024 Refinancing Term Loans, 10.095%, (TSFR1M+5.250%), 10/20/2028 | 150,016 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
195
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 530,955 | Edelman Financial Engines Center LLC (The), Term Loan B, 8.095%, (TSFR1M+8.095%), 04/07/2028 | $ | 530,689 | 0.0 | ||||||
| 66,920 (8)(9) | Focus Financial Partners LLC, 2024 Delayed Draw Term Loan, 08/08/2031 | 66,784 | 0.0 | |||||||
| 623,080 (8) | Focus Financial Partners LLC, Initial Term Loan, 08/08/2031 | 621,814 | 0.1 | |||||||
| 190,000 | Grant Thornton Advisors LLC, Initial Term Loan, 8.095%, (TSFR1M+3.250%), 06/02/2031 | 190,499 | 0.0 | |||||||
| 373,299 | Guardian US Holdco, Initial Term Loan, 8.830%, (TSFR3M+3.500%), 01/31/2030 | 371,608 | 0.0 | |||||||
| 401,775 | HighTower Holding LLC, 2024 Term Loan B, 8.748%, (TSFR3M+3.500%), 04/21/2028 | 402,466 | 0.0 | |||||||
| 303,477 | HUB International Ltd, Facility 2024-1 Incremental Term Loans, 8.255%, (TSFR2M+3.000%), 06/20/2030 | 303,382 | 0.0 | |||||||
| 557,663 | Jane Street Group LLC, 2021 Term Loan, 7.861%, (TSFR1M+2.500%), 01/26/2028 | 557,663 | 0.0 | |||||||
| 570,134 | Mercury Borrower Inc, First Lien Initial Term Loan, 8.460%, (US0006M+3.500%), 08/02/2028 | 570,847 | 0.0 | |||||||
| 514,361 | Nuvei Technologies Corp., Initial Term Loan, 7.955%, (TSFR1M+3.000%), 12/19/2030 | 515,775 | 0.0 | |||||||
| 693,263 | OneDigital Borrower LLC, Term Loan (First Lien), 8.095%, (TSFR1M+3.250%), 07/02/2031 | 688,063 | 0.1 | |||||||
| 763,817 | Osaic Holdings Inc (f/k/a Advisor Group Holdings Inc), Term B-3 Loan, 9.247%, (TSFR1M+4.000%), 08/17/2028 | 756,815 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 368,725 | Overdrive, Inc., New First Lien Term Loan, 9.170%, (TSFR1M+4.250%), 12/15/2028 | $ | 370,569 | 0.0 | ||||||
| 123,281 | RHP Hotel Properties LP, Incremental Tranche B Term Loan, 7.095%, (TSFR1M+7.095%), 05/18/2030 | 123,558 | 0.0 | |||||||
| 538,705 | Ryan Specialty Group LLC, 2024 Term Loan B, 7.095%, (TSFR1M+7.095%), 09/11/2031 | 538,706 | 0.0 | |||||||
| 370,000 | Truist Insurance Holdings, LLC, Initial Term Loans, 7.854%, (TSFR3M+3.250%), 05/06/2031 | 370,077 | 0.0 | |||||||
| 150,000 | Truist Insurance Holdings, LLC, Initial Term Loans (Second Lien), 9.354%, (TSFR3M+4.750%), 03/08/2032 | 152,766 | 0.0 | |||||||
| 300,968 | USI Inc, 2024 Term Loans Facility, 7.354%, (TSFR3M+7.354%), 09/27/2030 | 300,529 | 0.0 | |||||||
| 491,291 | USI Inc, 2024-B Term Loan, 7.354%, (TSFR3M+7.354%), 11/22/2029 | 490,413 | 0.0 | |||||||
| 290,000 | VFH Parent LLC, Term B-1 Loan, 7.595%, (TSFR1M+7.595%), 06/13/2031 | 289,879 | 0.0 | |||||||
| 226,535 | Walker & Dunlop Inc, Initial Term Loan, 7.195%, (TSFR1M+7.195%), 12/16/2028 | 227,385 | 0.0 | |||||||
| 15,969,774 | 0.8 | |||||||||
| Food Products: 0.1% | ||||||||||
| 394,300 | 8th Avenue Food & Provisions Inc, 2021 Incremental Term Loan, 9.710%, (TSFR1M+4.750%), 10/01/2025 | 383,785 | 0.0 | |||||||
| 322,765 | BCPE North Star US Holdco 2 Inc,, First Lien Initial Term Loan, 11.250%, (TSFR1M+4.114%), 06/09/2028 | 306,425 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
196
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Food Products: (continued) | ||||||||||
| 515,080 | CHG PPC Parent LLC, 2021-1 US Term Loan, 8.361%, (TSFR1M+3.114%), 12/08/2028 | $ | 513,148 | 0.1 | ||||||
| 447,873 | Chobani LLC, 2023 Additional Term Loan, 8.595%, (TSFR1M+3.750%), 10/25/2027 | 449,692 | 0.0 | |||||||
| 464,366 | Primary Products Finance LLC, 2024 Replacement Term B Loan, 8.971%, (TSFR3M+3.650%), 04/02/2029 | 465,055 | 0.0 | |||||||
| 2,118,105 | 0.1 | |||||||||
| Food/Drug Retailers: 0.0% | ||||||||||
| 400,488 | US Foods Inc, Incremental B-2019 Term Loan, 6.960%, (TSFR1M+2.000%), 09/13/2026 | 401,197 | 0.0 | |||||||
| Health Care: 0.2% | ||||||||||
| 353,634 | Amneal Pharmaceuticals LLC, Initial Term Loan, 8.460%, (TSFR1M+3.614%), 05/04/2025 | 358,497 | 0.0 | |||||||
| 891,615 | AthenaHealth Group Inc, Initial Term Loan, 8.497%, (TSFR1M+3.250%), 02/15/2029 | 887,435 | 0.1 | |||||||
| 285,279 | CHG Healthcare Services Inc., Tranche B1, 8.443%, (US0006M+3.250%), 09/29/2028 | 285,689 | 0.0 | |||||||
| 175,000 | Concentra Health Services, Inc., Term Loan B, 7.095%, (TSFR1M+2.250%), 07/28/2031 | 174,891 | 0.0 | |||||||
| 288,462 | Gloves Buyer Inc, First Lien Initial Term Loan, 9.361%, (TSFR1M+4.114%), 12/29/2027 | 287,741 | 0.0 | |||||||
| 8,318 | National Mentor Holdings Inc, First Lien Initial Term C Loan, 8.454%, (TSFR3M+3.850%), 03/02/2028 | 8,021 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Health Care: (continued) | ||||||||||
| 290,179 | National Mentor Holdings Inc, First Lien Initial Term Loan, 9.097%, (TSFR1M+3.850%), 03/02/2028 | $ | 279,841 | 0.0 | ||||||
| 361,906 (8) | Pacific Dental Services LLC, 03/15/2031 | 362,018 | 0.0 | |||||||
| 597,000 | Phoenix Guarantor Inc, Tranche B-4 Term Loan, 8.095%, (TSFR1M+3.250%), 02/21/2031 | 596,179 | 0.1 | |||||||
| 88,679 | Select Medical Corp, Tranche B-1 Term loan, 8.247%, (TSFR1M+3.000%), 03/08/2027 | 89,141 | 0.0 | |||||||
| 3,329,453 | 0.2 | |||||||||
| Home Furnishings: 0.0% | ||||||||||
| 646,235 | Apx Group Inc, Initial Term Loan, 9.750%, (PRIME+1.750%), 07/10/2028 | 647,267 | 0.0 | |||||||
| Industrial: 0.9% | ||||||||||
| 488,227 | AlixPartners LLP, Tranche B, 7.717%, (TSFR1M+2.500%), 02/04/2028 | 489,380 | 0.0 | |||||||
| 580,000 | Alliance Laundry Systems LLC, Initial Term B Loans, 8.345%, (TSFR3M+3.500%), 08/09/2031 | 581,761 | 0.1 | |||||||
| 689,794 | Allied Universal Holdco LLC, Term Loan Usd, 8.695%, (TSFR1M+3.750%), 05/15/2028 | 683,887 | 0.1 | |||||||
| 692,191 | Altium Packaging LLC, 2024 Refinancing Term Loan, 7.345%, (TSFR1M+2.500%), 06/05/2031 | 690,894 | 0.1 | |||||||
| 179,100 | Anticimex Inc, Facility B6, 8.252%, (SOFRRATE+3.400%), 11/16/2028 | 179,361 | 0.0 | |||||||
| 155,000 (8) | Arcosa, Inc., Term Loan, 08/12/2031 | 155,194 | 0.0 | |||||||
| 398,128 | Azuria Water Solutions Inc, 2024 Second Additional Replacement Term Loan, 8.595%, (TSFR1M+8.595%), 05/17/2028 | 400,368 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
197
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 485,821 | Belfor Holdings Inc, Initial Tranche B-1 Term Loan, 9.000%, (TSFR1M+3.750%), 11/01/2030 | $ | 488,524 | 0.0 | ||||||
| 484,914 | Bombardier Recreational Products Inc, 2024 Extended Term Loan, 7.595%, (TSFR1M+2.750%), 01/22/2031 | 484,763 | 0.0 | |||||||
| 164,588 | Brown Group Holding LLC, Incremental Term B-2 Facility, 7.807%, (TSFR3M+2.750%), 07/01/2031 | 164,411 | 0.0 | |||||||
| 134,325 | Chariot Buyer LLC, First Lien Amendment No.2 Term Loan, 8.345%, (TSFR1M+3.500%), 11/03/2028 | 134,315 | 0.0 | |||||||
| 355,368 | Chart Industries, Inc., 2024 Term Loan B, 7.825%, (TSFR3M+7.825%), 03/18/2030 | 355,146 | 0.0 | |||||||
| 494,438 | Clark Equipment Company, 2022 Term Loan B, 7.948%, (TSFR3M+2.500%), 04/20/2029 | 495,158 | 0.0 | |||||||
| 298,003 | Coherent Corp (f/k/a II-VI Incorporated), Term Loan B-1, 7.345%, (TSFR1M+7.345%), 07/02/2029 | 298,525 | 0.0 | |||||||
| 343,250 | Conair Holdings LLC, First Lien Initial Term Loan, 8.710%, (US0006M+3.750%), 05/17/2028 | 315,718 | 0.0 | |||||||
| 171,543 | EMRLD Borrower LP, Initial Term B Loan, 7.557%, (TSFR3M+2.500%), 05/31/2030 | 171,409 | 0.0 | |||||||
| 458,567 | Filtration Group Corporation, 2021 Incremental Term Loan, 8.861%, (TSFR1M+3.500%), 10/21/2028 | 459,169 | 0.0 | |||||||
| 314 | Foley Products Company, LLC, Term Loan, 9.504%, (TSFR3M+9.504%), 12/29/2028 | 316 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 155,000 | Genesee & Wyoming Inc, Initial Term Loan B, 6.604%, (TSFR3M+2.000%), 04/10/2031 | $ | 154,822 | 0.0 | ||||||
| 148,889 | Gulfside Supply Inc, Initial Term Loan, 8.286%, (TSFR3M+3.000%), 05/29/2031 | 148,889 | 0.0 | |||||||
| 439,275 | Husky Injection Molding Systems Ltd, Amendment No. 5 Refinancing Term Loan, 10.326%, (TSFR6M+5.000%), 02/15/2029 | 437,536 | 0.0 | |||||||
| 705,934 | Ingram Micro Inc, 2024 Term Loan B, 7.564%, (TSFR3M+7.564%), 09/18/2031 | 706,375 | 0.1 | |||||||
| 489,557 | Kenan Advantage Group Inc (The), Term Loan B4, 8.095%, (TSFR1M+3.250%), 01/25/2029 | 489,557 | 0.0 | |||||||
| 329,698 | Lsf11 Trinity Bidco, Inc., 2024 Term Loan B, 8.420%, (TSFR1M+3.500%), 06/14/2030 | 330,316 | 0.0 | |||||||
| 293,328 | Madison Iaq LLC, Initial Term Loan, 7.889%, (TSFR6M+2.750%), 06/21/2028 | 293,528 | 0.0 | |||||||
| 150,000 (8) | Madison Safety & Flow LLC, Tlb, 09/30/2031 | 150,375 | 0.0 | |||||||
| 154,613 | MI Windows and Doors LLC, 2024 Incremental Term Loans, 8.345%, (TSFR1M+3.500%), 03/28/2031 | 155,192 | 0.0 | |||||||
| 148,076 | Ncr Atleos, LLC, Term B Loan, 10.102%, (TSFR3M+4.850%), 03/27/2029 | 149,395 | 0.0 | |||||||
| 474,313 | Northstar Group Services Inc, Term B Loans, 10.014%, (TSFR6M+4.750%), 05/08/2030 | 477,054 | 0.0 | |||||||
| 220,000 (8) | Nvent Electric Public Limited Company, Term Loan B, 09/30/2031 | 220,069 | 0.0 | |||||||
| 468,747 | Oscar AcquisitionCo LLC, Term B Loan, 8.854%, (TSFR3M+4.250%), 04/29/2029 | 463,766 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
198
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 250,000 | Ovation Parent Inc, Initial Term Loan, 8.104%, (TSFR3M+8.104%), 04/21/2031 | $ | 251,328 | 0.0 | ||||||
| 780,100 | Pactiv Evergreen Group Holdings Inc., Tranch B-4 U.S. Term Loans, 7.747%, (TSFR1M+2.500%), 09/24/2028 | 780,832 | 0.1 | |||||||
| 494,659 | Pre Paid Legal Services Inc, First Lien Initial Term Loans, 8.710%, (TSFR1M+3.750%), 12/15/2028 | 494,830 | 0.0 | |||||||
| 141,979 | Pretium PKG Holdings Inc, Initial Third Amendment Tranche A-1 Term Loan (First Lien), 9.848%, (TSFR3M+4.600%), 10/02/2028 | 114,258 | 0.0 | |||||||
| 546,785 | Pro Mach Group Inc, Refinancing Term Loan, 8.345%, (TSFR1M+8.345%), 08/31/2028 | 549,519 | 0.1 | |||||||
| 389,942 | Quikrete Holdings Inc, Term Loan B (2029), 7.095%, (TSFR1M+2.250%), 03/19/2029 | 390,510 | 0.0 | |||||||
| 348,717 | Refficiency Holdings LLC, 2021 Initial Term Loan, 8.445%, (TSFR1M+8.445%), 12/16/2027 | 350,678 | 0.0 | |||||||
| 391,987 | Service Logic Acquisition Inc, 2024 Term Loan B, 8.314%, (TSFR1M+8.314%), 10/29/2027 | 393,457 | 0.0 | |||||||
| 228,483 | Smyrna Ready Mix Concrete LLC, New Term Loan B, 8.354%, (TSFR1M+3.500%), 04/02/2029 | 230,196 | 0.0 | |||||||
| 516,008 | SPX Flow, Inc., Cov-Lite Tlb, 8.345%, (TSFR1M+3.500%), 04/05/2029 | 517,240 | 0.1 | |||||||
| 390,000 (8) | Third Coast Infrastructure, LLC, Term Loan B, 09/30/2030 | 388,050 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 743,360 | TK Elevator Midco Gmbh, Facility B2 (USD), 8.588%, (TSFR6M+3.500%), 04/30/2030 | $ | 745,941 | 0.1 | ||||||
| 992,513 | Transdigm Inc, Tranche K Term Loans, 7.354%, (TSFR3M+2.750%), 03/22/2030 | 993,547 | 0.1 | |||||||
| 197,088 | Tutor Perini Corporation, Term Loan, 9.710%, (TSFR1M+4.750%), 08/18/2027 | 197,088 | 0.0 | |||||||
| 291,436 | Watlow Electric Manufacturing Company, Term Loan B, 9.264%, (TSFR3M+4.012%), 03/02/2028 | 292,638 | 0.0 | |||||||
| 420,000 | Wilsonart LLC, Initial Term Loans, 8.854%, (TSFR1M+4.250%), 07/25/2031 | 415,931 | 0.0 | |||||||
| 17,831,216 | 0.9 | |||||||||
| Insurance: 0.1% | ||||||||||
| 521,562 | Ima Financial Group, Inc., Initial Term Loan, 8.095%, (TSFR1M+3.750%), 10/16/2028 | 521,128 | 0.0 | |||||||
| 738,194 | Sedgwick Claims Management Services Inc, 2024 Term Loan, 8.250%, (TSFR3M+3.750%), 07/31/2031 | 737,732 | 0.1 | |||||||
| 1,258,860 | 0.1 | |||||||||
| Leisure Good/Activities/Movies: 0.1% | ||||||||||
| 406,271 | 24 Hour Fitness Worldwide Inc, Term Loan, 14.319%, (TSFR3M+2.000%), 09/29/2025 | 355,487 | 0.0 | |||||||
| 300,935 | Cinemark USA Inc, Term Loan, 8.095%, (TSFR1M+3.250%), 05/24/2030 | 301,688 | 0.0 | |||||||
| 554,533 | Hayward Industries Inc, First Lien Initial Term Loan, 7.460%, (US0006M+2.750%), 05/30/2028 | 554,533 | 0.1 | |||||||
| 483,709 | Playtika Holding Corp, Tranche B, 7.943%, (TSFR1M+2.750%), 03/13/2028 | 481,098 | 0.0 | |||||||
| 1,692,806 | 0.1 | |||||||||
See Accompanying Notes to Financial Statements
199
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Lodging & Casinos: 0.1% | ||||||||||
| 674,667 | Fertitta Entertainment LLC, Initial B Term Loan, 8.847%, (TSFR1M+3.750%), 01/29/2029 | $ | 673,266 | 0.1 | ||||||
| 473,769 | Flynn Restaurant Group LP, 2021 New Term Loan, 9.210%, (TSFR1M+4.364%), 12/01/2028 | 476,138 | 0.0 | |||||||
| 415,981 | Golden Entertainment Inc, Term B-1 Loan, 6.854%, (TSFR1M+2.250%), 05/28/2030 | 415,461 | 0.0 | |||||||
| 476,333 | Hilton Grand Vacations Borrower LLC, Initial Term Loan, 7.345%, (TSFR1M+2.750%), 08/02/2028 | 474,189 | 0.0 | |||||||
| 407,538 | Scientific Games Holdings LP, Tranche B, 8.421%, (TSFR3M+3.250%), 04/04/2029 | 405,797 | 0.0 | |||||||
| 2,444,851 | 0.1 | |||||||||
| Oil & Gas: 0.0% | ||||||||||
| 202,946 | Medallion Midland Acquisition LLC, First Lient Term Loan, 8.314%, (TSFR3M+3.500%), 10/18/2028 | 203,530 | 0.0 | |||||||
| 542,763 | TransMontaigne Operating Company LP, Tranche B Term Loan, 8.460%, (TSFR1M+3.614%), 11/17/2028 | 544,289 | 0.0 | |||||||
| 747,819 | 0.0 | |||||||||
| Pipelines: 0.0% | ||||||||||
| 250,000 | Whitewater DBR Holdco LLC, Initial Term Loan, 7.354%, (TSFR3M+2.750%), 03/03/2031 | 250,156 | 0.0 | |||||||
| Radio & Television: 0.1% | ||||||||||
| 459,139 | DirectV Financing LLC, Closing Date Term Loan, 10.360%, (TSFR1M+5.114%), 08/02/2027 | 459,952 | 0.0 | |||||||
| 390,417 | Gray Television Inc, Cov-Lite Tld, 8.315%, (TSFR1M+3.113%), 12/01/2028 | 361,319 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Radio & Television: (continued) | ||||||||||
| 545,329 | Houghton Mifflin Harcourt Company, First Lien Term B Loan, 10.195%, (TSFR1M+5.350%), 04/09/2029 | $ | 531,866 | 0.1 | ||||||
| 32,884 | Sinclair Television Group Inc, Term B-2 Loan, 8.014%, (TSFR1M+2.500%), 09/30/2026 | 31,959 | 0.0 | |||||||
| 148,106 | Sinclair Television Group Inc, Term Loan B-4, 8.695%, (TSFR1M+3.750%), 04/23/2029 | 109,432 | 0.0 | |||||||
| 1,494,528 | 0.1 | |||||||||
| Retailers (Except Food & Drug): 0.1% | ||||||||||
| 829,238 | Great Outdoors Group LLC, Term B-2 Loan, 9.110%, (TSFR1M+3.864%), 03/06/2028 | 829,929 | 0.1 | |||||||
| 74,002 | Leslie's Poolmart Inc, Initial Term Loan, 7.710%, (TSFR1M+2.750%), 03/09/2028 | 71,898 | 0.0 | |||||||
| 200,324 | Michaels Companies Inc (The), Term B Loan, 9.115%, (TSFR3M+4.512%), 04/15/2028 | 161,038 | 0.0 | |||||||
| 581,583 | Petco Health and Wellness Company Inc, First Lien Initial Term Loan, 8.115%, (TSFR3M+3.512%), 03/06/2028 | 554,039 | 0.0 | |||||||
| 1,616,904 | 0.1 | |||||||||
| Technology: 1.0% | ||||||||||
| 481,393 | Adeia Inc, 3rd Amendment Term Loan B, 7.961%, (TSFR1M+7.961%), 06/08/2028 | 482,296 | 0.0 | |||||||
| 485,000 (8) | Amazon Holdco Inc., Tlb, 07/30/2031 | 484,091 | 0.0 | |||||||
| 115,000 | Applied Systems Inc, Initial Term Loan (2024) (Second Lien), 9.854%, (TSFR3M+5.250%), 02/23/2032 | 118,654 | 0.0 | |||||||
| 515,009 | Applied Systems Inc, Tranche B-1 Term Loan, 7.604%, (TSFR1M+3.000%), 02/24/2031 | 516,179 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
200
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 786,344 | Applovin Corporation, 10Th Amendment Term Loan, 7.345%, (TSFR1M+2.500%), 10/25/2028 | $ | 787,818 | 0.1 | ||||||
| 330,000 | Asurion LLC, Second Lien Term Loan B3, 10.210%, (TSFR1M+5.364%), 01/31/2028 | 310,730 | 0.0 | |||||||
| 743,346 | BMC Software (Boxer/ Bladelogic), 2031 New First Lien Dollar Term Loan, 9.005%, (TSFR3M+9.005%), 07/30/2031 | 742,383 | 0.1 | |||||||
| 376,242 | Capstone Borrower Inc, Term Loan B, 7.854%, (TSFR3M+7.854%), 06/17/2030 | 376,830 | 0.0 | |||||||
| 399,233 | Cast & Crew Payroll LLC, First Lien Incremental Facility No 2 Incremental Term Loan, 8.595%, (TSFR1M+8.595%), 12/29/2028 | 400,552 | 0.0 | |||||||
| 444,382 | Cloud Software Group Inc, Term Loan B, 9.335%, (TSFR3M+4.000%), 03/30/2029 | 443,005 | 0.0 | |||||||
| 285,000 | Cloud Software Group Inc, Third Amendment Term Loan, 9.835%, (TSFR3M+4.500%), 03/19/2031 | 286,170 | 0.0 | |||||||
| 419,820 | Connectwise, LLC, Initial Term Loan, 9.096%, (TSFR3M+3.762%), 09/29/2028 | 420,029 | 0.0 | |||||||
| 496,231 | Constant Contact Inc, First Lien Initial Term Loan, 9.566%, (TSFR3M+4.262%), 02/10/2028 | 481,344 | 0.0 | |||||||
| 315,000 (8) | Darktrace Plc, Term Loan, 07/02/2031 | 310,373 | 0.0 | |||||||
| 400,000 (8) | Dragon Buyer, Inc., Tlb, 09/30/2031 | 398,600 | 0.0 | |||||||
| 213,925 | Dun & Bradstreet Corporation (The), Incremental Term B-2, 7.605%, (TSFR1M+2.750%), 01/18/2029 | 214,042 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 426,449 | ECI Macola / Max Holding LLC, 2024 Extending Term Loan, 9.085%, (TSFR3M+3.750%), 05/31/2030 | $ | 428,010 | 0.0 | ||||||
| 280,000 (8) | Envestnet, Inc., Term Loan, 09/19/2031 | 279,300 | 0.0 | |||||||
| 90,168 (9) | Epicor Software Corporation, 2024 Delayed Draw Term Loan, 8.830%, (TSFR1M+3.500%), 05/30/2031 | 90,337 | 0.0 | |||||||
| 768,507 | Epicor Software Corporation, Term E Loans, 8.095%, (TSFR1M+3.250%), 05/30/2031 | 769,948 | 0.1 | |||||||
| 250,000 | Fortress Intermediate 3 Inc., Initial Term Loan, 8.595%, (TSFR1M+3.750%), 06/27/2031 | 249,766 | 0.0 | |||||||
| 396,795 | Gainwell Acquisition Corp, Term B Loan, 8.704%, (US0006M+4.000%), 10/01/2027 | 378,567 | 0.0 | |||||||
| 617,766 | Genesys Cloud Services Holdings II LLC (f/k/a Greeneden US Holdings II LLC), 2024 Incremental No. 2 Dollar Term Loan, 8.345%, (TSFR1M+8.345%), 12/01/2027 | 620,083 | 0.1 | |||||||
| 299,875 | Helios Software Holdings Inc, 2024 Dollar Term Loan, 8.354%, (TSFR3M+8.354%), 07/15/2030 | 298,875 | 0.0 | |||||||
| 348,250 | Imagine Learning LLC, 2024 Term Loan, 8.345%, (TSFR1M+3.500%), 12/21/2029 | 348,530 | 0.0 | |||||||
| 550,000 | Indy Us Bidco, LLC, Ninth Amend Dollar Term Loan, 9.595%, (TSFR1M+4.750%), 03/06/2028 | 549,083 | 0.1 | |||||||
| 397,698 | Informatica LLC, 2024 Term Loan B, 7.095%, (TSFR1M+7.095%), 10/27/2028 | 397,781 | 0.0 | |||||||
| 250,000 (8) | Instructure Holdings Inc, Term Loan, 09/12/2031 | 248,385 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
201
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 149,250 | Lorca Telecom Bidco S.A., Facility B4 Loan, 8.104%, (TSFR3M+3.500%), 03/25/2031 | $ | 149,623 | 0.0 | ||||||
| 492,484 | Mcafee Corp, Tranche B-1 Term Loan, 8.451%, (TSFR1M+8.451%), 03/01/2029 | 491,292 | 0.0 | |||||||
| 280,000 | MH Sub I LLC, Second Lien Term Loan, 11.502%, (TSFR1M+6.250%), 09/15/2025 | 275,537 | 0.0 | |||||||
| 548,689 | Mitchell International, Inc., Initial Term Loan, 8.095%, (TSFR1M+8.095%), 06/17/2031 | 541,363 | 0.1 | |||||||
| 331,388 | MKS Instruments Inc, 2024-1 Dollar Term Loan B, 7.170%, (TSFR1M+7.170%), 08/17/2029 | 331,844 | 0.0 | |||||||
| 270,000 | Modena Buyer LLC, Initial Term Loan, 9.104%, (TSFR3M+9.104%), 07/01/2031 | 259,031 | 0.0 | |||||||
| 445,000 | Mosel Bidco (SE), Facility B (Usd) Loan, 9.104%, (TSFR3M+4.750%), 09/16/2030 | 447,781 | 0.0 | |||||||
| 455,000 (8) | Neon Maple Purchaser Inc, Tranche B-1 Term Loan, 01/01/2040 | 450,450 | 0.0 | |||||||
| 98,358 | Oceankey (U.S.) II Corp, Term Loan, 8.445%, (US0006M+3.500%), 12/15/2028 | 98,420 | 0.0 | |||||||
| 205,149 | Paysafe Holdings (US) Corp, Facility B1, 7.710%, (TSFR1M+2.750%), 06/28/2028 | 204,209 | 0.0 | |||||||
| 546,366 | Project Boost Purchaser LLC, 1L Intial Term Loan, 8.786%, (TSFR3M+3.500%), 07/16/2031 | 546,879 | 0.1 | |||||||
| 373,875 | Project Ruby Ultimate Parent Corp, Incremental Term B-3 Loan, 8.460%, (TSFR1M+3.614%), 03/10/2028 | 374,296 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 173,250 | Quartz AcquireCo LLC, Term Loan B-1, 7.354%, (TSFR3M+7.354%), 06/28/2030 | $ | 173,033 | 0.0 | ||||||
| 229,053 | Rackspace Finance, LLC, First Lien Term Loan, 7.982%, (TSFR1M+3.500%), 05/15/2028 | 128,079 | 0.0 | |||||||
| 497,436 | RealPage Inc, First Lien Initial Term Loan, 7.960%, (TSFR1M+3.114%), 04/24/2028 | 483,446 | 0.0 | |||||||
| 316,558 | Renaissance Holding Corp, Covenant-Lite First-Lien Term Loan, 9.095%, (TSFR1M+4.250%), 04/05/2030 | 316,792 | 0.0 | |||||||
| 452,964 | Rocket Software Inc, Term Loan, 9.595%, (TSFR1M+4.750%), 11/28/2028 | 453,927 | 0.0 | |||||||
| 298,562 | Skillsoft Finance II Inc, Initial Term Loan, 10.219%, (TSFR1M+5.364%), 07/14/2028 | 246,189 | 0.0 | |||||||
| 364,490 | Skopima Consilio (FKA GI Consilio), First Lien Initial Term Loan, 9.361%, (TSFR1M+4.000%), 05/12/2028 | 364,405 | 0.0 | |||||||
| 303,475 | SonicWall US Holdings Inc, 2023 Term Loan, 9.604%, (TSFR3M+5.000%), 05/18/2028 | 299,998 | 0.0 | |||||||
| 243,943 | Tenable Inc, Initial Term Loan, 7.710%, (US0006M+2.750%), 07/07/2028 | 244,451 | 0.0 | |||||||
| 240,000 (8) | Thunder Genera, Tranche B, 09/29/2031 | 240,150 | 0.0 | |||||||
| 899,569 | UKG Inc, Term Loan B, 8.555%, (TSFR3M+3.500%), 02/10/2031 | 900,650 | 0.1 | |||||||
| 496,234 | Virtusa Corporation, Term B-2 Loan, 8.095%, (TSFR1M+8.095%), 02/15/2029 | 496,700 | 0.1 | |||||||
| 219,450 | VS Buyer LLC, 2024 Refinancing Initial Term Loan, 8.347%, (TSFR1M+3.250%), 04/14/2031 | 219,907 | 0.0 | |||||||
See Accompanying Notes to Financial Statements
202
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Technology: (continued) | ||||||||||
| 397,763 | Waystar Technologies Inc, Term Loan B, 7.595%, (TSFR1M+2.750%), 10/22/2029 | $ | 399,255 | 0.0 | ||||||
| 20,569,468 | 1.0 | |||||||||
| Telecommunications: 0.1% | ||||||||||
| 404,456 | Asurion LLC, New B11 Term Loan, 9.195%, (TSFR1M+4.250%), 08/21/2028 | 399,064 | 0.0 | |||||||
| 148,458 | Cablevision Lightpath LLC, Initial Term Loan, 8.461%, (TSFR1M+3.250%), 11/30/2027 | 148,420 | 0.0 | |||||||
| 785,291 | CCI Buyer Inc, First Lien Initial Term Loan, 8.604%, (TSFR3M+4.000%), 12/17/2027 | 785,192 | 0.1 | |||||||
| 750,000 | UPC Financing Partnership, Facility AX, 8.136%, (TSFR1M+3.000%), 01/31/2029 | 747,047 | 0.0 | |||||||
| 196,476 | Viasat Inc, Initial Term Loan, 9.345%, (TSFR1M+4.500%), 03/05/2029 | 180,390 | 0.0 | |||||||
| 500,000 | Zayo Group Holdings Inc, Initial Dollar Term Loan, 8.217%, (TSFR1M+3.000%), 03/09/2027 | 457,552 | 0.0 | |||||||
| 2,717,665 | 0.1 | |||||||||
| Utilities: 0.1% | ||||||||||
| 220,000 (8) | Alpha Generation LLC, Term Loan B, 09/30/2031 | 220,275 | 0.0 | |||||||
| 289,275 | Bip Pipeco Holdings LLC, Term Loan, 7.818%, (TSFR3M+2.500%), 12/05/2030 | 289,817 | 0.0 | |||||||
| 394,388 | Discovery Energy Holding Corporation, Initial Dollar Term Loan, 9.354%, (TSFR3M+4.750%), 05/01/2031 | 398,824 | 0.0 | |||||||
| 335,000 | Lightning Power, LLC, Initial Term B Loan, 8.346%, (TSFR3M+3.250%), 08/07/2031 | 336,094 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| BANK LOANS: (continued) | |||||||||||
| Utilities: (continued) | |||||||||||
| 409,194 | NGL Energy Operating LLC, Term Loan, 8.595%, (TSFR1M+3.750%), 02/03/2031 | $ | 407,813 | 0.1 | |||||||
| 119,400 | NRG Energy Inc., Term Loan, 7.264%, (TSFR1M+3.500%), 03/27/2031 | 119,723 | 0.0 | ||||||||
| 316,978 | Vistra Operations Company LLC, 2018 Incremental Term Loan, 6.845%, (TSFR1M+2.000%), 12/20/2030 | 317,366 | 0.0 | ||||||||
| 2,089,912 | 0.1 | ||||||||||
| Total Bank Loans | |||||||||||
| (Cost $142,660,555) | 142,882,427 | 7.0 | |||||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS: 3.5% | |||||||||||
| Government National Mortgage Association: 2.0% | |||||||||||
| 7,800,000 (10) | 4.500%, 10/20/2054 | 7,702,659 | 0.4 | ||||||||
| 26,205,000 (10) | 5.000%, 10/20/2054 | 26,251,053 | 1.3 | ||||||||
| 6,970,000 (10) | 5.500%, 09/20/2054 | 7,038,481 | 0.3 | ||||||||
| 40,992,193 | 2.0 | ||||||||||
| Uniform Mortgage-Backed Securities: 1.5% | |||||||||||
| 7,500,000 (10) | 3.000%, 10/01/2054 | 6,732,413 | 0.3 | ||||||||
| 2,563 | 5.500%, 10/01/2039 | 2,638 | 0.0 | ||||||||
| 9,550,000 (10) | 5.500%, 10/01/2054 | 9,662,076 | 0.5 | ||||||||
| 14,063,000 (10) | 5.500%, 11/01/2054 | 14,226,941 | 0.7 | ||||||||
| 30,624,068 | 1.5 | ||||||||||
| Total U.S. Government Agency Obligations | |||||||||||
| (Cost $71,776,467) | 71,616,261 | 3.5 | |||||||||
| SOVEREIGN BONDS: 1.3% | |||||||||||
| BRL5,320,000 | Brazil Notas do Tesouro Nacional Serie B NTNB, 6.000%, 08/15/2050 | 4,030,982 | 0.2 | ||||||||
| 1,050,000 | Brazilian Government International Bond, 6.125%, 03/15/2034 | 1,072,050 | 0.1 | ||||||||
| 675,000 | Brazilian Government International Bond, 7.125%, 05/13/2054 | 701,855 | 0.0 | ||||||||
| 1,000,000 | Colombia Government International Bond, 5.200%, 05/15/2049 | 743,250 | 0.0 | ||||||||
| 6,200,000 (3) | European Bank for Reconstruction & Development, GMTN, 20.000%, 03/19/2025 | 6,865,663 | 0.3 | ||||||||
| 1,425,000 (2) | Guatemala Government Bond, 6.050%, 08/06/2031 | 1,461,053 | 0.1 | ||||||||
See Accompanying Notes to Financial Statements
203
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| 675,000 (2) | Guatemala Government Bond, 6.550%, 02/06/2037 | $ | 701,460 | 0.0 | ||||||
| 600,000 | Panama Government International Bond, 3.160%, 01/23/2030 | 537,450 | 0.0 | |||||||
| 1,000,000 (6) | Panama Government International Bond, 6.875%, 01/31/2036 | 1,053,125 | 0.1 | |||||||
| 1,200,000 | Panama Government International Bond, 7.500%, 03/01/2031 | 1,315,200 | 0.1 | |||||||
| 1,580,000 | Panama Government International Bond, 8.000%, 03/01/2038 | 1,785,795 | 0.1 | |||||||
| 1,765,000 | Republic of South Africa Government International Bond, 4.850%, 09/30/2029 | 1,716,462 | 0.1 | |||||||
| 625,000 (6) | Republic of South Africa Government International Bond, 5.875%, 04/20/2032 | 622,656 | 0.0 | |||||||
| 924,000 (2) | Romanian Government International Bond, 5.750%, 03/24/2035 | 918,803 | 0.0 | |||||||
| 1,338,000 (2) | Romanian Government International Bond, 6.375%, 01/30/2034 | 1,393,192 | 0.1 | |||||||
| 1,100,000 (2) | Saudi Government International Bond, 5.750%, 01/16/2054 | 1,123,375 | 0.1 | |||||||
| 125,232 (1) | Ukraine Government International Bond (Step Rate @ 3.000% on 02/01/2027), 02/01/2030 | 54,946 | 0.0 | |||||||
| 467,977 (1) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2034 | 160,165 | 0.0 | |||||||
| 395,473 (1) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2035 | 173,415 | 0.0 | |||||||
| 329,561 (1) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2036 | 143,194 | 0.0 | |||||||
| 603,324 (1) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2029 | 355,750 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| SOVEREIGN BONDS: (continued) | |||||||||||
| 793,835 (1) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2034 | $ | 354,050 | 0.0 | |||||||
| 718,884 (1) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2035 | 312,535 | 0.0 | ||||||||
| 176,565 (1) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2036 | 75,914 | 0.0 | ||||||||
| Total Sovereign Bonds | |||||||||||
| (Cost $26,619,000) | 27,672,340 | 1.3 | |||||||||
| U.S. TREASURY OBLIGATIONS: 0.6% | |||||||||||
| United States Treasury Notes: 0.6% | |||||||||||
| 858,000 | 0.375%, 09/30/2027 | 780,830 | 0.0 | ||||||||
| 94,000 | 2.750%, 08/15/2032 | 87,861 | 0.0 | ||||||||
| 42,000 | 3.375%, 09/30/2029 | 41,877 | 0.0 | ||||||||
| 2,123,000 | 3.500%, 09/30/2031 | 2,119,185 | 0.1 | ||||||||
| 188,000 | 3.625%, 09/15/2027 | 187,053 | 0.0 | ||||||||
| 10,012,300 | 3.875%, 08/15/2034 | 10,083,481 | 0.5 | ||||||||
| 2,000 | 4.625%, 06/15/2027 | 2,054 | 0.0 | ||||||||
| 13,302,341 | 0.6 | ||||||||||
| Total U.S. Treasury Obligations | |||||||||||
| (Cost $13,245,237) | 13,302,341 | 0.6 | |||||||||
| Shares | RA | Value | Percentage of Net Assets | ||||||||
| COMMON STOCK: 0.0% | |||||||||||
| Business Equipment & Services: 0.0% | |||||||||||
| 5,366 (3) | Yak Access LLC Series A | 12,074 | 0.0 | ||||||||
| 1,157 (3) | Yak Access LLC Series B | 2,604 | 0.0 | ||||||||
| 14,678 | 0.0 | ||||||||||
| Consumer Discretionary: 0.0% | |||||||||||
| 142,000 (3) | 24 Hour Fitness Worldwide, Inc. | 1,420 | 0.0 | ||||||||
| 113 (3) | Travelport Tech Ltd. | 80,230 | 0.0 | ||||||||
| 81,650 | 0.0 | ||||||||||
| Consumer Staples: —% | |||||||||||
| 2,038 (3) | Save-A-Lot, Inc./Moran Foods | — | — | ||||||||
| Total Common Stock | |||||||||||
| (Cost $548,230) | 96,328 | 0.0 | |||||||||
See Accompanying Notes to Financial Statements
204
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Shares | Value | Percentage of Net Assets | |||||||||
| PREFERRED STOCK: 0.0% | |||||||||||
| Consumer Discretionary: 0.0% | |||||||||||
| 189,193 (3) | 24 Hour Fitness Worldwide, Inc. | $ | 95 | 0.0 | |||||||
| Total Preferred Stock | |||||||||||
| (Cost $227,212) | 95 | 0.0 | |||||||||
| PURCHASED OPTIONS(11): 0.0% | |||||||||||
| Total Purchased Options | |||||||||||
| (Cost $1,004,238) | 139,901 | 0.0 | |||||||||
| Total Long-Term Investments | |||||||||||
| (Cost $1,881,655,336) | 1,851,741,993 | 90.4 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: 17.7% | ||||||||||
| Repurchase Agreements: 2.0% | ||||||||||
| 1,725,519 (12) | ASL Capital Markets, Inc., Repurchase Agreement dated 09/30/2024, 5.350%, due 10/01/2024 (Repurchase Amount $1,725,772, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.470%-7.000%, Market Value plus accrued interest $1,760,029, due 06/01/28-07/15/59) | 1,725,519 | 0.1 | |||||||
| 11,265,616 (12) | Bethesda Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $11,267,159, collateralized by various U.S. Government/U.S. Government Agency Obligations, 2.500%-7.026%, Market Value plus accrued interest $11,490,928, due 10/01/27-01/01/57) | 11,265,616 | 0.6 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Repurchase Agreements (continued) | ||||||||||
| 11,265,616 (12) | Cantor Fitzgerald Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $11,267,159, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.500%-7.408%, Market Value plus accrued interest $11,490,928, due 05/01/26-08/20/74) | $ | 11,265,616 | 0.5 | ||||||
| 4,038,473 (12) | CF Secured LLC, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $4,039,026, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.070%, Market Value plus accrued interest $4,119,242, due 05/15/27-07/20/73) | 4,038,473 | 0.2 | |||||||
| 1,217,436 (12) | Clear Street LLC, Repurchase Agreement dated 09/30/2024, 5.020%, due 10/01/2024 (Repurchase Amount $1,217,603, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $1,241,669, due 07/31/25-08/01/54) | 1,217,436 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
205
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Repurchase Agreements (continued) | ||||||||||
| 11,094,587 (12) | Marex Capital Markets Inc., Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $11,096,107, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.750%-5.500%, Market Value plus accrued interest $11,316,479, due 07/15/28-09/01/54) | $ | 11,094,587 | 0.5 | ||||||
| Total Repurchase Agreements | ||||||||||
| (Cost $40,607,247) | 40,607,247 | 2.0 | ||||||||
| Time Deposits: 0.3% | ||||||||||
| 1,170,000 (12) | Canadian Imperial Bank of Commerce, 4.810%, 10/01/2024 | 1,170,000 | 0.0 | |||||||
| 1,170,000 (12) | Landesbank Hessen Thueringen Girozentrale, 4.820%, 10/01/2024 | 1,170,000 | 0.1 | |||||||
| 1,170,000 (12) | Mizuho Bank Ltd., 4.820%, 10/01/2024 | 1,170,000 | 0.0 | |||||||
| 1,170,000 (12) | Royal Bank of Canada, 4.830%, 10/01/2024 | 1,170,000 | 0.1 | |||||||
| 1,170,000 (12) | Skandinaviska Enskilda Banken AB, 4.810%, 10/01/2024 | 1,170,000 | 0.1 | |||||||
| 1,160,000 (12) | Svenska Handelsbanken AB, 4.810%, 10/01/2024 | 1,160,000 | 0.0 | |||||||
| Total Time Deposits | ||||||||||
| (Cost $7,010,000) | 7,010,000 | 0.3 | ||||||||
| Commercial Paper: 14.8% | ||||||||||
| 10,000,000 | Agilent Technologies, 5.050%, 10/15/2024 | 9,979,358 | 0.5 | |||||||
| 15,000,000 | American Electric Power Co., Inc., 5.000%, 10/02/2024 | 14,995,904 | 0.7 | |||||||
| 10,000,000 | American Electric Power Co., Inc., 5.100%, 11/04/2024 | 9,951,470 | 0.5 | |||||||
| 10,000,000 | Autozone, Inc., 4.990%, 10/01/2024 | 9,998,636 | 0.5 | |||||||
| 15,000,000 | Cigna Group, 5.050%, 10/17/2024 | 14,964,864 | 0.7 | |||||||
| 5,000,000 | Concord Minutemen Capital Co. LLC, 4.950%, 10/07/2024 | 4,995,275 | 0.2 | |||||||
| 15,000,000 | Consolidated Edison, 5.020%, 10/08/2024 | 14,983,555 | 0.7 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Commercial Paper (continued) | ||||||||||
| 13,500,000 | CVS Caremark, 4.960%, 10/01/2024 | $ | 13,498,169 | 0.7 | ||||||
| 15,000,000 | Dominion Energy, Inc., 4.970%, 10/01/2024 | 14,997,961 | 0.7 | |||||||
| 8,000,000 | Dominion Energy, Inc., 4.980%, 10/02/2024 | 7,997,824 | 0.4 | |||||||
| 5,000,000 | Dominion Energy, Inc., 5.060%, 10/23/2024 | 4,984,165 | 0.2 | |||||||
| 1,200,000 | Duke Energy Co., 5.000%, 10/02/2024 | 1,199,672 | 0.1 | |||||||
| 9,750,000 | Duke Energy Co., 5.000%, 10/03/2024 | 9,746,004 | 0.5 | |||||||
| 2,500,000 | Duke Energy Co., 5.020%, 10/07/2024 | 2,497,604 | 0.1 | |||||||
| 3,135,000 | Duke Energy Co., 5.060%, 10/18/2024 | 3,127,212 | 0.2 | |||||||
| 2,825,000 | Duke Energy Co., 5.080%, 10/22/2024 | 2,816,398 | 0.1 | |||||||
| 17,000,000 | EBAY, Inc., 4.860%, 01/21/2025 | 16,748,683 | 0.8 | |||||||
| 11,500,000 | EIDP, Inc., 4.960%, 12/12/2024 | 11,387,421 | 0.6 | |||||||
| 13,750,000 | Entergy Corp., 4.990%, 10/01/2024 | 13,748,127 | 0.7 | |||||||
| 16,000,000 | Entergy Corp., 4.990%, 10/02/2024 | 15,995,639 | 0.8 | |||||||
| 10,000,000 | Entergy Corp., 5.090%, 10/23/2024 | 9,968,146 | 0.5 | |||||||
| 15,000,000 | HP, Inc., 5.010%, 10/04/2024 | 14,991,798 | 0.7 | |||||||
| 8,000,000 | McCormick & Company, Inc., 5.010%, 10/04/2024 | 7,995,625 | 0.4 | |||||||
| 1,700,000 | McCormick & Company, Inc., 5.110%, 10/31/2024 | 1,692,671 | 0.1 | |||||||
| 8,575,000 | McCormick & Company, Inc., 5.110%, 11/01/2024 | 8,536,869 | 0.4 | |||||||
| 17,100,000 | McDonald's Corp., 4.470%, 10/10/2024 | 17,079,138 | 0.8 | |||||||
| 1,075,000 | Mondelez International, 5.030%, 10/24/2024 | 1,071,467 | 0.0 | |||||||
| 7,225,000 | Parker-Hannifin Corp., 5.000%, 10/01/2024 | 7,224,014 | 0.4 | |||||||
| 1,700,000 | Parker-Hannifin Corp., 5.000%, 10/02/2024 | 1,699,536 | 0.1 | |||||||
| 5,000,000 | Parker-Hannifin Corp., 5.040%, 11/19/2024 | 4,965,833 | 0.2 | |||||||
| 3,570,000 | Parker-Hannifin Corp., 5.060%, 11/13/2024 | 3,548,428 | 0.2 | |||||||
| 2,021,000 | Sherwin-Williams Co., 5.020%, 10/09/2024 | 2,018,510 | 0.1 | |||||||
| 10,000,000 | Volkswagen Group, 4.780%, 10/30/2024 | 9,961,000 | 0.5 | |||||||
| 3,500,000 | Volkswagen Group, 5.120%, 01/03/2025 | 3,454,066 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
206
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Commercial Paper (continued) | ||||||||||
| 10,000,000 | Volkswagen Group, 5.210%, 10/10/2024 | $ | 9,985,781 | 0.5 | ||||||
| Total Commercial Paper | ||||||||||
| (Cost $302,790,068) | 302,806,823 | 14.8 | ||||||||
| Shares | Value | Percentage of Net Assets | |||||||||
| Mutual Funds: 0.6% | |||||||||||
| 12,870,080 (13) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $12,870,080) | $ | 12,870,080 | 0.6 | |||||||
| Total Short-Term Investments | |||||||||||
| (Cost $363,277,395) | 363,294,150 | 17.7 | |||||||||
| Total Investments in Securities | |||||||||||
| (Cost $2,244,932,731) | $ | 2,215,036,143 | 108.1 | ||||||||
| Liabilities in Excess of Other Assets | (166,842,066 | ) | (8.1 | ) | |||||||
| Net Assets | $ | 2,048,194,077 | 100.0 | ||||||||
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | Variable rate security. Rate shown is the rate in effect as of September 30, 2024. |
| (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) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
| (4) | 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. |
| (5) | 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. |
| (6) | Security, or a portion of the security, is on loan. |
| (7) | All or a portion of this security is payment-in-kind (“PIK”) which may pay interest or additional principal at the issuer’s discretion. Rates shown are the current rate and possible payment rates. |
| (8) | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| (9) | All or a portion of this holding is subject to unfunded loan commitments. Please refer to Note 10 for additional details. |
| (10) | Represents or includes a TBA transaction. |
| (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 September 30, 2024. |
Currency Abbreviations:
| BRL | Brazilian Real |
| CHF | Swiss Franc |
| EUR | EU Euro |
Reference Rate Abbreviations:
| 12MTA | 12-month Treasury Average |
| PRIME | Federal Reserve Bank Prime Loan Rate |
| SOFR30A | 30-day Secured Overnight Financing Rate |
| SOFRRATE | 1-day Secured Overnight Financing Rate |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |
| US0001M | 1-month LIBOR |
| US0006M | 6-month LIBOR |
See Accompanying Notes to Financial Statements
207
| Voya Strategic | PORTFOLIO OF INVESTMENTS |
| Income Opportunities Fund | as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Collateralized Mortgage Obligations | $ | — | $ | 533,815,282 | $ | 1,959,375 | $ | 535,774,657 | ||||||||
| Corporate Bonds/Notes | — | 414,098,437 | — | 414,098,437 | ||||||||||||
| Commercial Mortgage-Backed Securities | — | 374,660,055 | — | 374,660,055 | ||||||||||||
| Asset-Backed Securities | — | 271,499,151 | — | 271,499,151 | ||||||||||||
| Bank Loans | — | 142,882,427 | — | 142,882,427 | ||||||||||||
| U.S. Government Agency Obligations | — | 71,616,261 | — | 71,616,261 | ||||||||||||
| Sovereign Bonds | — | 20,806,677 | 6,865,663 | 27,672,340 | ||||||||||||
| U.S. Treasury Obligations | — | 13,302,341 | — | 13,302,341 | ||||||||||||
| Purchased Options | — | 139,901 | — | 139,901 | ||||||||||||
| Common Stock | — | — | 96,328 | 96,328 | ||||||||||||
| Preferred Stock | — | — | 95 | 95 | ||||||||||||
| Short-Term Investments | 12,870,080 | 350,424,070 | — | 363,294,150 | ||||||||||||
| Total Investments, at fair value | $ | 12,870,080 | $ | 2,193,244,602 | $ | 8,921,461 | $ | 2,215,036,143 | ||||||||
| Other Financial Instruments | ||||||||||||||||
| Bank Loans | — | 874,578 | — | 874,578 | ||||||||||||
| Centrally Cleared Interest Rate Swaps | — | 98,929 | — | 98,929 | ||||||||||||
| Forward Foreign Currency Contracts | — | 3,209,955 | — | 3,209,955 | ||||||||||||
| Forward Premium Swaptions | — | 2,835,589 | — | 2,835,589 | ||||||||||||
| Futures | 1,543,195 | — | — | 1,543,195 | ||||||||||||
| OTC Cross-Currency Swaps | — | 22,920 | — | 22,920 | ||||||||||||
| Total Assets | $ | 14,413,275 | $ | 2,200,286,573 | $ | 8,921,461 | $ | 2,223,621,309 | ||||||||
| Liabilities Table | ||||||||||||||||
| Other Financial Instruments+ | ||||||||||||||||
| Centrally Cleared Interest Rate Swaps | $ | — | $ | (6,024,029) | $ | — | $ | (6,024,029) | ||||||||
| Forward Foreign Currency Contracts | — | (2,644,433) | — | (2,644,433) | ||||||||||||
| Forward Premium Swaptions | — | (87,698) | — | (87,698) | ||||||||||||
| Futures | (954,372) | — | — | (954,372) | ||||||||||||
| OTC volatility swaps | — | (297,277) | — | (297,277) | ||||||||||||
| Sales Commitments | — | (13,854,731) | — | (13,854,731) | ||||||||||||
| Written Options | — | (200,898) | — | (200,898) | ||||||||||||
| Total Liabilities | $ | (954,372) | $ | (23,109,066) | $ | — | $ | (24,063,438) | ||||||||
| ^ | 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. |
At September 30, 2024, the following forward foreign currency contracts were outstanding for Voya Strategic Income Opportunities Fund:
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||
| USD | 5,230,905 | BRL | 29,349,418 | Bank of America N.A. | 10/25/24 | $ | (141,399 | ) | ||||||||
| USD | 1,418,466 | TRY | 65,675,000 | Bank of America N.A. | 04/03/25 | (176,034 | ) | |||||||||
| USD | 2,985,880 | BRL | 16,428,074 | Barclays Bank PLC | 10/25/24 | (21,219 | ) | |||||||||
| BRL | 28,693,022 | USD | 5,052,433 | BNP Paribas | 10/25/24 | 199,721 | ||||||||||
| CNY | 81,397,582 | USD | 11,538,882 | BNP Paribas | 10/25/24 | 102,902 | ||||||||||
| USD | 5,070,053 | MXN | 98,313,396 | BNP Paribas | 10/25/24 | 95,824 | ||||||||||
| CNY | 7,950,068 | USD | 1,126,998 | BNP Paribas | 10/25/24 | 10,050 | ||||||||||
| BRL | 19,587,005 | USD | 3,581,133 | BNP Paribas | 10/25/24 | 4,197 | ||||||||||
| MXN | 219,203,708 | USD | 11,141,797 | BNP Paribas | 10/25/24 | (51,045 | ) | |||||||||
| USD | 12,585,676 | CNY | 89,155,919 | BNP Paribas | 10/25/24 | (165,734 | ) | |||||||||
| USD | 5,094,633 | BRL | 28,881,812 | BNP Paribas | 10/25/24 | (192,078 | ) | |||||||||
See Accompanying Notes to Financial Statements
208
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||
| USD | 6,000,391 | BRL | 34,051,199 | BNP Paribas | 10/25/24 | $ | (232,556 | ) | ||||||
| USD | 5,037,255 | CLP | 4,769,361,160 | BNP Paribas | 10/25/24 | (265,145 | ) | |||||||
| USD | 2,734,497 | MXN | 53,614,532 | Citibank N.A. | 10/25/24 | 21,835 | ||||||||
| USD | 4,486,326 | BRL | 25,248,502 | Citibank N.A. | 10/25/24 | (135,321 | ) | |||||||
| BRL | 34,084,624 | USD | 6,000,391 | Goldman Sachs International | 10/25/24 | 238,675 | ||||||||
| MXN | 30,562,357 | USD | 1,599,344 | Goldman Sachs International | 10/25/24 | (53,022 | ) | |||||||
| USD | 5,016,386 | CLP | 4,665,238,971 | Goldman Sachs International | 10/25/24 | (170,254 | ) | |||||||
| MXN | 116,253,156 | USD | 6,064,122 | Goldman Sachs International | 10/25/24 | (182,219 | ) | |||||||
| USD | 4,326,723 | CLP | 4,069,802,245 | Goldman Sachs International | 10/25/24 | (197,932 | ) | |||||||
| TRY | 65,675,000 | USD | 1,416,936 | Goldman Sachs International | 04/03/25 | 177,564 | ||||||||
| USD | 46,259 | ZAR | 832,395 | HSBC Bank USA N.A. | 10/25/24 | (1,819 | ) | |||||||
| CLP | 4,789,550,724 | USD | 5,052,535 | Morgan Stanley Capital Services LLC | 10/25/24 | 272,310 | ||||||||
| CLP | 4,774,548,807 | USD | 5,052,433 | Morgan Stanley Capital Services LLC | 10/25/24 | 255,734 | ||||||||
| BRL | 14,769,543 | USD | 2,685,469 | Morgan Stanley Capital Services LLC | 10/25/24 | 18,042 | ||||||||
| USD | 6,098,911 | BRL | 33,631,836 | Morgan Stanley Capital Services LLC | 10/25/24 | (57,274 | ) | |||||||
| MXN | 381,331,652 | USD | 19,517,874 | Morgan Stanley Capital Services LLC | 10/25/24 | (224,155 | ) | |||||||
| BRL | 26,306,777 | USD | 4,620,420 | Standard Chartered Bank | 10/25/24 | 194,940 | ||||||||
| BRL | 26,188,171 | USD | 4,620,420 | Standard Chartered Bank | 10/25/24 | 173,229 | ||||||||
| USD | 39,313,218 | EUR | 35,618,471 | Standard Chartered Bank | 10/25/24 | (377,227 | ) | |||||||
| CLP | 3,931,542,398 | USD | 4,179,810 | State Street Bank and Trust Co. | 10/25/24 | 191,134 | ||||||||
| USD | 6,064,122 | MXN | 116,291,248 | State Street Bank and Trust Co. | 10/25/24 | 180,292 | ||||||||
| USD | 6,123,238 | MXN | 118,975,252 | State Street Bank and Trust Co. | 10/25/24 | 103,609 | ||||||||
| EUR | 35,450,294 | USD | 39,474,632 | State Street Bank and Trust Co. | 10/25/24 | 28,409 | ||||||||
| USD | 19,956,756 | MXN | 375,828,200 | Wells Fargo Securities LLC | 10/25/24 | 941,488 | ||||||||
| $ | 565,522 | |||||||||||||
At September 30, 2024, the following futures contracts were outstanding for Voya Strategic Income Opportunities Fund:
| Description | Number of Contracts | Expiration Date | Notional Amount | Unrealized Appreciation/ (Depreciation) | ||||||||||
| Long Contracts: | ||||||||||||||
| U.S. Treasury 2-Year Note | 2,212 | 12/31/24 | $ | 460,631,719 | $ | 759,781 | ||||||||
| U.S. Treasury 5-Year Note | 2,170 | 12/31/24 | 238,445,703 | (954,372 | ) | |||||||||
| $ | 699,077,422 | $ | (194,591 | ) | ||||||||||
| Short Contracts: | ||||||||||||||
| U.S. Treasury 10-Year Note | (976 | ) | 12/19/24 | (111,538,500 | ) | 9,764 | ||||||||
| U.S. Treasury Long Bond | (275 | ) | 12/19/24 | (34,151,562 | ) | 164,841 | ||||||||
| U.S. Treasury Ultra 10-Year Note | (625 | ) | 12/19/24 | (73,935,547 | ) | 506,519 | ||||||||
| U.S. Treasury Ultra Long Bond | (104 | ) | 12/19/24 | (13,841,750 | ) | 102,290 | ||||||||
| $ | (233,467,359 | ) | $ | 783,414 | ||||||||||
At September 30, 2024, the following centrally cleared interest rate swaps were outstanding for Voya Strategic Income Opportunities Fund:
| 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 Secured Overnight Financing Rate | Annual | 3.208 | % | Annual | 09/10/29 | USD | 22,936,000 | $ | (64,864 | ) | $ | (64,864 | ) | ||||||||||
| Receive | 28-day MXN TIIE-BANXICO | Monthly | 8.700 | Monthly | 09/20/34 | MXN | 126,260,000 | — | — | |||||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.243 | Annual | 10/07/29 | USD | 6,704,000 | — | — | |||||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.184 | Annual | 10/07/29 | USD | 8,939,000 | 32,000 | 32,000 | |||||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.256 | Annual | 10/07/29 | USD | 11,174,000 | — | — | |||||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 3.206 | Annual | 09/10/29 | USD | 22,936,000 | 66,929 | 66,929 | |||||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.526 | Annual | 06/18/26 | USD | 201,589,400 | (3,292,667 | ) | (3,292,667 | ) | |||||||||||||
See Accompanying Notes to Financial Statements
209
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| 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) | |||||||||||||||
| Receive | 1-day Secured Overnight Financing Rate | Annual | 4.241% | Annual | 07/22/26 | USD | 208,749,000 | $ | (2,666,498 | ) | $ | (2,666,498 | ) | ||||||||||
| $ | (5,925,100 | ) | $ | (5,925,100 | ) | ||||||||||||||||||
At September 30, 2024, Voya Strategic Income Opportunities Fund held the following OTC Cross-Currency Swap Contracts:
| Counterparty Pays | Fund Receives | Maturity Date | Counter party | Notional Amount of Currency Received(1) | Notional Amount of Currency Delivered(1) | Fair Value | Upfront Payments Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||
Floating rate equal to 1-day Secured Overnight Financing Rate based on the notional amount of currency received | Floating rate equal to 28-day MXN TIIE-BANXICO minus 0.67% based on the notional amount of currency delivered | 12/15/2027 | BNP Paribas | USD | 20,537,980 | MXN | 407,165,454 | $ | 22,920 | $ | — | $ | 22,920 | ||||||||||||
| $ | 22,920 | $ | — | $ | 22,920 | ||||||||||||||||||||
| (1) | The notional amounts to be received or delivered may be determined and exchanged at a future date, based on the effective date of the cross-currency swap. |
At September 30, 2024, the following OTC volatility swaps were outstanding for Voya Strategic Income Opportunities Fund:
| 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 | 5.555 | % | BNP Paribas | 10/10/24 | USD | 52,000 | $ | (86,411 | ) | $ | (86,411 | ) | ||||||||||
| Receive | EUR vs. USD Spot Exchange Rate | 6.550 | % | Deutsche Bank AG | 02/03/25 | USD | 104,370 | (17,282 | ) | (17,282 | ) | ||||||||||||
| Receive | USD vs. CAD Spot Exchange Rate | 5.555 | % | Standard Chartered Bank | 10/10/24 | USD | 52,000 | (86,410 | ) | (86,410 | ) | ||||||||||||
| Receive | USD vs. CAD Spot Exchange Rate | 5.200 | % | UBS AG | 10/03/24 | USD | 93,000 | (107,174 | ) | (107,174 | ) | ||||||||||||
| $ | (297,277 | ) | $ | (297,277 | ) | ||||||||||||||||||
At September 30, 2024, the following OTC purchased foreign currency options were outstanding for Voya Strategic Income Opportunities Fund:
| Description | Counterparty | Expiration Date | Exercise Price | Notional Amount | Cost | Fair Value | ||||||||||||
| Call MXN vs. Put CHF | Goldman Sachs International | 10/10/24 | 21.500 | CHF | 23,341,010 | $ | 416,584 | $ | 1,277 | |||||||||
| Call USD vs. Put EUR | Morgan Stanley Capital Services LLC | 10/10/24 | 1.090 | USD | 30,865,820 | 78,183 | 5,094 | |||||||||||
| Call USD vs. Put JPY | Goldman Sachs International | 11/26/25 | 165.000 | USD | 2,862,000 | 180,306 | 131,405 | |||||||||||
| $ | 675,073 | $ | 137,776 | |||||||||||||||
At September 30, 2024, the following OTC written foreign currency options were outstanding for Voya Strategic Income Opportunities Fund:
| Description | Counterparty | Expiration Date | Exercise Price | Notional Amount | Premiums Received | Fair Value | ||||||||||||
| Call MXN vs. Put CHF | Goldman Sachs International | 10/10/24 | 20.500 | CHF | 23,341,110 | $ | 101,447 | $ | (64 | ) | ||||||||
| $ | 101,447 | $ | (64 | ) | ||||||||||||||
At September 30, 2024, the following OTC purchased interest rate swaptions were outstanding for Voya Strategic Income Opportunities Fund:
| Description | Counterparty | Pay/ Receive Exercise Rate | Exercise Rate | Floating Rate Index | Expiration Date | Notional Amount | Cost | Fair Value | |||||||||||||
| Put on 2-Year Interest Rate Swap(1) | Goldman Sachs International | Pay | 3.100% | 6-month EUR-EURIBOR | 12/20/24 | EUR | 103,876,000 | $ | 329,165 | $ | 2,125 | ||||||||||
| $ | 329,165 | $ | 2,125 | ||||||||||||||||||
See Accompanying Notes to Financial Statements
210
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
At September 30, 2024, the following OTC written interest rate swaptions were outstanding for Voya Strategic Income Opportunities Fund:
| Description | Counterparty | Pay/Receive Exercise Rate | Exercise Rate | Floating Rate Index | Expiration Date | Notional Amount | Premiums Received | Fair Value | ||||||||||||||
| Call on 5-Year Interest Rate Swap(1) | UBS AG | Pay | 3.185% | 1-day Secured Overnight Financing Rate | 10/03/24 | USD | 44,694,000 | $ | 136,317 | $ | (20,742 | ) | ||||||||||
| Put on 2-Year Interest Rate Swap(2) | Goldman Sachs International | Receive | 3.280% | 6-month EUR-EURIBOR | 12/20/24 | EUR | 103,876,000 | 204,616 | (830 | ) | ||||||||||||
| Put on 2-Year Interest Rate Swap(2) | Goldman Sachs International | Receive | 3.453% | 6-month EUR-EURIBOR | 12/20/24 | EUR | 103,876,000 | 124,549 | (353 | ) | ||||||||||||
| Put on 5-Year Interest Rate Swap(2) | UBS AG | Receive | 3.185% | 1-day Secured Overnight Financing Rate | 10/03/24 | USD | 44,694,000 | 136,317 | (178,909 | ) | ||||||||||||
| $ | 601,799 | $ | (200,834 | ) | ||||||||||||||||||
At September 30, 2024, the following OTC purchased forward premium swaptions were outstanding for Voya Strategic Income Opportunities Fund:
| 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 10-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 2.375% | Receive | 1-day Secured Overnight Financing Rate | 08/14/34 | USD | 20,819,720 | $ | (874,429 | ) | $ | (28,483 | ) | |||||||||
| Call on 30-Year Interest Rate Swap | Barclays Bank PLC | 17.500% | Receive | 1-day Secured Overnight Financing Rate | 06/14/27 | USD | 22,958,000 | (4,017,650 | ) | 869,436 | ||||||||||||
| Put on 30-Year Interest Rate Swap | Barclays Bank PLC | 18.000% | Pay | 1-day Secured Overnight Financing Rate | 05/25/27 | USD | 53,680,100 | (9,662,418 | ) | 1,816,015 | ||||||||||||
| Put on 5-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 3.600% | Pay | 1-day Secured Overnight Financing Rate | 09/18/29 | USD | 44,694,000 | (1,436,465 | ) | 88,823 | ||||||||||||
| $ | (15,990,962 | ) | $ | 2,745,791 | ||||||||||||||||||
At September 30, 2024, the following OTC written forward premium swaptions were outstanding for Voya Strategic Income Opportunities Fund:
| 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 1-Year Interest Rate Swap | Bank of America N.A. | 3.140% | Pay | 1-day Secured Overnight Financing Rate | 09/19/28 | USD | 111,735,000 | $ | 872,232 | $ | 35,279 | |||||||||||
| Put on 10-Year Interest Rate Swap | JPMorgan Chase Bank N.A. | 5.540% | Receive | 1-day Secured Overnight Financing Rate | 08/14/34 | USD | 20,819,720 | 874,428 | (24,338 | ) | ||||||||||||
| Put on 1-Year Interest Rate Swap | Bank of America N.A. | 3.140% | Receive | 1-day Secured Overnight Financing Rate | 09/19/28 | USD | 111,735,000 | 872,231 | (34,877 | ) | ||||||||||||
| Put on 5-Year Interest Rate Swap | UBS AG | 2.650% | Receive | 6-month EUR-EURIBOR | 09/18/29 | EUR | 44,694,000 | 1,453,233 | 26,036 | |||||||||||||
| $ | 4,072,124 | $ | 2,100 | |||||||||||||||||||
| (1) | Fund pays the exercise rate semi-annually and receives the floating rate index quarterly. |
| (2) | Fund 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. |
| The following sales commitments were held by the Voya Strategic Income Opportunities Fund at September 30, 2024: | ||||||||||
| Contractual | ||||||||||
| Principal Amount | Description | Settlement Date | Fair Value | |||||||
| $ | (6,970,000 | ) | Ginnie Mae, 5.500%, due 09/20/54 | 09/23/24 | $ | (7,038,481 | ) | |||
| (7,000,000 | ) | Uniform Mortgage-Backed Securities, 4.500%, due 06/25/54 | 11/14/24 | (6,816,250 | ) | |||||
| Total Sales Commitments | ||||||||||
| Proceeds receivable $(13,961,696) | $ | (13,854,731 | ) | |||||||
See Accompanying Notes to Financial Statements
211
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Currency Abbreviations: | |||
| BRL | — | Brazilian Real | |
| CHF | — | Swiss Franc | |
| CLP | — | Chilean Peso | |
| CNY | — | Chinese Yuan | |
| EUR | — | EU Euro | |
| MXN | — | Mexican Peso | |
| TRY | — | Turkish Lira | |
| 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 September 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 | Investments in securities at value* | $ | 137,776 | |||
| Interest rate contracts | Investments in securities at value* | 2,125 | ||||
| Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 3,209,955 | ||||
| Interest rate contracts | Unrealized appreciation on forward premium swaptions | 2,835,589 | ||||
| Interest rate contracts | Variation margin receivable on futures contracts** | 1,543,195 | ||||
| Interest rate contracts | Variation margin receivable on centrally cleared swaps** | 98,929 | ||||
| Total Asset Derivatives | $ | 7,827,569 | ||||
| Liability Derivatives | ||||||
| Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $ | 2,644,433 | |||
| Interest rate contracts | Unrealized depreciation on forward premium swaptions | 87,698 | ||||
| Interest rate contracts | Variation margin payable on futures contracts** | 954,372 | ||||
| Interest rate contracts | Variation margin payable on centrally cleared swaps** | 6,024,029 | ||||
| Foreign exchange contracts | Unrealized depreciation on OTC swap agreements | 297,277 | ||||
| Foreign exchange contracts | Written options, at fair value | 64 | ||||
| Interest rate contracts | Written options, at fair value | 200,834 | ||||
| Total Liability Derivatives | $ | 10,208,707 | ||||
| * | 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). |
The effect of derivative instruments on the Fund's Statement of Operations for the period ended September 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Forward | ||||||||||||||||||||||||
| foreign | ||||||||||||||||||||||||
| Derivatives not accounted for as hedging | currency | Written | ||||||||||||||||||||||
| instruments | Investments* | contracts | Futures | Swaps | options | Total | ||||||||||||||||||
| Credit contracts | $ | — | $ | — | $ | — | $ | 1,789,683 | $ | — | $ | 1,789,683 | ||||||||||||
| Equity contracts | — | — | 1,010,047 | — | — | 1,010,047 | ||||||||||||||||||
| Foreign exchange contracts | (1,265,328 | ) | (671,881 | ) | — | (661,213 | ) | (546,343 | ) | (3,144,765 | ) | |||||||||||||
| Interest rate contracts | (2,615,130 | ) | — | (244,075 | ) | (3,921,985 | ) | 3,312,756 | (3,468,434 | ) | ||||||||||||||
| Total | $ | (3,880,458 | ) | $ | (671,881 | ) | $ | 765,972 | $ | (2,793,515 | ) | $ | 2,766,413 | $ | (3,813,469 | ) | ||||||||
See Accompanying Notes to Financial Statements
212
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
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 | $ | 638,351 | $ | 1,771,546 | $ | — | $ | (222,116 | ) | $ | (65,666 | ) | $ | 2,122,114 | ||||||||||
| Interest rate contracts | 3,803,174 | — | 2,801,376 | (3,968,216 | ) | (1,398,659 | ) | 1,237,675 | ||||||||||||||||
| Total | $ | 4,441,525 | $ | 1,771,546 | $ | 2,801,376 | $ | (4,190,332 | ) | $ | (1,464,325 | ) | $ | 3,359,789 | ||||||||||
| * | 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 September 30, 2024:
| Bank of America N.A. | Barclays Bank PLC | BNP Paribas | Citibank N.A. | Deutsche Bank AG | Goldman Sachs International | HSBC Bank USA N.A. | JPMorgan Chase Bank N.A. | Morgan Stanley Capital Services LLC | Standard Chartered Bank | State Street Bank and Trust Co. | ||||||||||||||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||||||||||||||||||||
| Purchased options | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 134,807 | $ | — | $ | — | $ | 5,094 | $ | — | $ | — | ||||||||||||||||||||||
| Forward foreign currency | ||||||||||||||||||||||||||||||||||||||||||||
| contracts | — | — | 412,694 | 21,835 | — | 416,239 | — | — | 546,086 | 368,169 | 503,444 | |||||||||||||||||||||||||||||||||
| Forward premium swaptions | 35,279 | 2,685,451 | — | — | — | — | — | 88,823 | — | — | — | |||||||||||||||||||||||||||||||||
| Cross-Currency Swaps | — | — | 22,920 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||
| Total Assets | $ | 35,279 | $ | 2,685,451 | $ | 435,614 | $ | 21,835 | $ | — | $ | 551,046 | $ | — | $ | 88,823 | $ | 551,180 | $ | 368,169 | $ | 503,444 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
| Forward foreign currency | ||||||||||||||||||||||||||||||||||||||||||||
| contracts | $ | 317,433 | $ | 21,219 | $ | 906,558 | $ | 135,321 | $ | — | $ | 603,427 | $ | 1,819 | $ | — | $ | 281,429 | $ | 377,227 | $ | — | ||||||||||||||||||||||
| Forward premium swaptions | 34,877 | — | — | — | — | — | — | 52,821 | — | — | — | |||||||||||||||||||||||||||||||||
| Volatility Swaps | — | — | 86,411 | — | 17,282 | — | — | — | — | 86,410 | — | |||||||||||||||||||||||||||||||||
| Written options | — | — | — | — | — | 1,247 | — | — | — | — | — | |||||||||||||||||||||||||||||||||
| Total Liabilities | $ | 352,310 | $ | 21,219 | $ | 992,969 | $ | 135,321 | $ | 17,282 | $ | 604,674 | $ | 1,819 | $ | 52,821 | $ | 281,429 | $ | 463,637 | $ | — | ||||||||||||||||||||||
| Net OTC derivative | ||||||||||||||||||||||||||||||||||||||||||||
| instruments by | ||||||||||||||||||||||||||||||||||||||||||||
| counterparty, at fair value | $ | (317,031 | ) | $ | 2,664,232 | $ | (557,355 | ) | $ | (113,486 | ) | $ | (17,282 | ) | $ | (53,628 | ) | $ | (1,819 | ) | $ | 36,002 | $ | 269,751 | $ | (95,468 | ) | $ | 503,444 | |||||||||||||||
| Total collateral pledged by | ||||||||||||||||||||||||||||||||||||||||||||
| the Fund/(Received from | ||||||||||||||||||||||||||||||||||||||||||||
| counterparty) | $ | — | $ | (2,664,232 | ) | $ | — | $ | — | $ | 17,282 | $ | — | $ | — | $ | — | $ | (269,751 | ) | $ | 95,468 | $ | — | ||||||||||||||||||||
| Net Exposure(1),(2) | $ | (317,031 | ) | $ | — | $ | (557,355 | ) | $ | (113,486 | ) | $ | — | $ | (53,628 | ) | $ | (1,819 | ) | $ | 36,002 | $ | — | $ | — | $ | 503,444 | |||||||||||||||||
| UBS AG | Wells Fargo Securities LLC | Total | ||||||||||
| Assets: | ||||||||||||
| Purchased options | $ | — | $ | — | $ | 139,901 | ||||||
| Forward foreign currency contracts | — | 941,488 | 3,209,955 | |||||||||
| Forward premium swaptions | 26,036 | — | 2,835,589 | |||||||||
| Cross-Currency Swaps | — | — | 22,920 | |||||||||
| Total Assets | $ | 26,036 | $ | 941,488 | $ | 6,208,365 | ||||||
| Liabilities: | ||||||||||||
| Forward foreign currency contracts | $ | — | $ | — | $ | 2,644,433 | ||||||
| Forward premium swaptions | — | — | 87,698 | |||||||||
| Volatility Swaps | 107,174 | — | 297,277 | |||||||||
| Written options | 199,651 | — | 200,898 | |||||||||
| Total Liabilities | $ | 306,825 | $ | — | $ | 3,230,306 | ||||||
| Net OTC derivative instruments by counterparty, at fair value | $ | (280,789 | ) | $ | 941,488 | $ | 2,978,059 | |||||
| Total collateral pledged by the Fund/(Received from counterparty) | $ | — | $ | (860,000 | ) | $ | (3,681,233 | ) | ||||
| Net Exposure(1),(2) | $ | (280,789 | ) | $ | 81,488 | $ | (703,174 | ) | ||||
| (1) | Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features. |
| (2) | At September 30, 2024, the Fund had pledged $293,200 and $100,00 to Standard Chartered Bank and Deutsche Bank AG, respectively. In addition, the Fund had received $80,000, $450,000, $860,000 and $2,940,000 from Goldman Sachs International, Morgan Stanley International PLC, Wells Fargo Securities LLC and Barclays Bank PLC, respectively. Excess cash collateral is not shown for financial reporting purposes. |
See Accompanying Notes to Financial Statements
213
| Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
At September 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 $2,248,364,766. | ||||
| Net unrealized depreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 34,646,424 | ||
| Gross Unrealized Depreciation | (69,334,130 | ) | ||
| Net Unrealized Depreciation | $ | (34,687,706 | ) | |
See Accompanying Notes to Financial Statements
214
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| 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
For more complete information, or to obtain a prospectus on any Voya mutual fund, please call your financial advisor or Voya Investments Distributor, LLC at (800) 992-0180 or log on to www.voyainvestments.com. The prospectus should be read carefully before investing. Consider the fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this information and other information about the fund.
163313 (0924)
Semi-Annual Financial Statements and Other Information
September 30, 2024
Voya Government Money Market Fund
Classes A, C, I, R6 and W
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. |
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INVESTMENT MANAGEMENT
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TABLE OF CONTENTS
| Statement of Assets and Liabilities | 1 |
| Statement of Operations | 3 |
| Statements of Changes in Net Assets | 4 |
| Financial Highlights | 5 |
| Notes to Financial Statements | 7 |
| Portfolio of Investments | 14 |
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| 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 Fund uses 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 Fund’s 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 Fund voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Fund’s website at www.voyainvestments.com and on the SEC’s website at www.sec.gov.
PORTFOLIO HOLDINGS
The Fund files its complete schedule of portfolio holdings with the SEC monthly on Form N-MFP. The Fund’s Forms N-MFP are available on the SEC’s website at www.sec.gov or the monthly schedule of portfolio holdings are also available at: https://individuals.voya.come/product/mutual-fund/prospectuses-reports and without charge upon request from the Fund by calling Shareholder Services toll-free at (800) 992-0180.
Please note that your investment: is not a bank deposit, is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve Board or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. There is no guarantee that the Fund will achieve its investment objective. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
STATEMENT OF ASSETS AND LIABILITIES as of September 30, 2024 (Unaudited)
| ASSETS: | ||||
| Short-term investments at amortized cost | $ | 336,527,329 | ||
| Repurchase agreements | 65,241,000 | |||
| Cash | 27,596 | |||
| Receivables: | ||||
| Investment securities sold | 13,943,226 | |||
| Fund shares sold | 25,660,389 | |||
| Dividends | 18,541 | |||
| Interest | 495,450 | |||
| Prepaid expenses | 63,799 | |||
| Reimbursement due from Investment Adviser | 49,650 | |||
| Other assets | 22,694 | |||
| Total assets | 442,049,674 | |||
| LIABILITIES: | ||||
| Income distribution payable | 6,922 | |||
| Payable for investment securities purchased | 57,130,976 | |||
| Payable for fund shares redeemed | 468,786 | |||
| Payable for investment management fees | 106,230 | |||
| Payable for distribution and shareholder service fees | 1,828 | |||
| Payable to trustees under the deferred compensation plan (Note 5) | 22,694 | |||
| Payable for trustee fees | 887 | |||
| Other accrued expenses and liabilities | 285,689 | |||
| Total liabilities | 58,024,012 | |||
| NET ASSETS | $ | 384,025,662 | ||
| NET ASSETS WERE COMPRISED OF: | ||||
| Paid-in capital | $ | 384,024,553 | ||
| Total distributable earnings | 1,109 | |||
| NET ASSETS | $ | 384,025,662 |
See Accompanying Notes to Financial Statements
1
STATEMENT OF ASSETS AND LIABILITIES as of September 30, 2024 (Unaudited) (continued)
| Class A | ||||
| Net assets | $ | 311,915,614 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 311,909,525 | |||
| Net asset value and redemption price per share† | $ | 1.00 | ||
| Class C | ||||
| Net assets | $ | 2,208,950 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 2,208,906 | |||
| Net asset value and redemption price per share† | $ | 1.00 | ||
| Class I | ||||
| Net assets | $ | 64,642,020 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 64,639,891 | |||
| Net asset value and redemption price per share | $ | 1.00 | ||
| Class R6 | ||||
| Net assets | $ | 3,046 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 3,046 | |||
| Net asset value and redemption price per share | $ | 1.00 | ||
| Class W | ||||
| Net assets | $ | 5,256,032 | ||
| Shares authorized | unlimited | |||
| Par value | $ | 0.001 | ||
| Shares outstanding | 5,255,930 | |||
| Net asset value and redemption price per share | $ | 1.00 |
| † | Redemption price per share may be reduced for any applicable contingent deferred sales charges. |
See Accompanying Notes to Financial Statements
2
STATEMENT OF OPERATIONS for the period ended September 30, 2024 (Unaudited)
| INVESTMENT INCOME: | ||||
| Dividends | $ | 18,549 | ||
| Interest | 9,481,111 | |||
| Other | 747 | |||
| Total investment income | 9,500,407 | |||
| EXPENSES: | ||||
| Investment management fees | 622,220 | |||
| Distribution and shareholder service fees: | ||||
| Class C | 11,423 | |||
| Transfer agent fees: | ||||
| Class A | 195,359 | |||
| Class C | 1,581 | |||
| Class I | 35,135 | |||
| Class W | 6,106 | |||
| Shareholder reporting expense | 8,375 | |||
| Registration fees | 48,763 | |||
| Professional fees | 14,297 | |||
| Custody and accounting expense | 7,600 | |||
| Trustee fees | 4,432 | |||
| Miscellaneous expense | 6,848 | |||
| Total expenses | 962,139 | |||
| Waived and reimbursed fees | (325,709 | ) | ||
| Net expenses | 636,430 | |||
| Net investment income | 8,863,977 | |||
| REALIZED AND UNREALIZED GAIN (LOSS): | ||||
| Net realized gain on investments | 37,541 | |||
| Increase in net assets resulting from operations | $ | 8,901,518 |
See Accompanying Notes to Financial Statements
3
STATEMENTS OF CHANGES IN NET ASSETS
| Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | |||||||
| FROM OPERATIONS: | ||||||||
| Net investment income | $ | 8,863,977 | $ | 15,563,243 | ||||
| Net realized gain | 37,541 | 44,938 | ||||||
| Increase in net assets resulting from operations | 8,901,518 | 15,608,181 | ||||||
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||
| Total distributions (excluding return of capital): | ||||||||
| Class A | (7,081,446 | ) | (12,215,598 | ) | ||||
| Class C | (45,759 | ) | (84,235 | ) | ||||
| Class I | (1,540,445 | ) | (2,815,104 | ) | ||||
| Class R6(1) | (46 | ) | — | |||||
| Class W | (218,495 | ) | (448,234 | ) | ||||
| Total distributions | (8,886,191 | ) | (15,563,171 | ) | ||||
| FROM CAPITAL SHARE TRANSACTIONS: | ||||||||
| Net proceeds from sale of shares | 826,478,196 | 1,474,342,746 | ||||||
| Reinvestment of distributions | 8,845,146 | 15,507,497 | ||||||
| 835,323,342 | 1,489,850,243 | |||||||
| Cost of shares redeemed | (789,708,316 | ) | (1,428,809,700 | ) | ||||
| Net increase in net assets resulting from capital share transactions | 45,615,026 | 61,040,543 | ||||||
| Net increase in net assets | 45,630,353 | 61,085,553 | ||||||
| NET ASSETS: | ||||||||
| Beginning of year or period | 338,395,309 | 277,309,756 | ||||||
| End of year or period | $ | 384,025,662 | $ | 338,395,309 | ||||
| (1) | Commencement of operations. |
See Accompanying Notes to Financial Statements
4
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 | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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) | Expenses net of fee waivers and/or recoupments if any(2)(3) | Expenses net of all reductions/ additions (2)(3) | Net investment income (loss)(2)(3) | Net assets, end of year or period | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | |||||||||||||||||||||||||||||||||||
| Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 1.00 | 0.03 | • | — | 0.03 | 0.03 | 0.00 | * | — | 0.03 | — | 1.00 | 2.54 | 0.54 | 0.35 (4) | 0.35 | 4.99 | 311,916 | — | |||||||||||||||||||||||||||||||||
| 03-31-24 | 1.00 | 0.05 | • | 0.00 | * | 0.05 | 0.05 | — | — | 0.05 | — | 1.00 | 5.04 | 0.57 | 0.39 (5) | 0.39 | 4.93 | 265,846 | — | |||||||||||||||||||||||||||||||||
| 03-31-23 | 1.00 | 0.03 | (0.01 | ) | 0.02 | 0.02 | — | — | 0.02 | — | 1.00 | 2.48 | 0.62 | 0.39 (6) | 0.39 | 2.63 | 217,392 | — | ||||||||||||||||||||||||||||||||||
| 03-31-22 | 1.00 | (0.00 | )*• | 0.00 | * | 0.00 | * | — | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.09 | 0.64 | 0.05 (7) | 0.05 | (0.00 | )* | 156,626 | — | |||||||||||||||||||||||||||||
| 03-31-21 | 1.00 | 0.00 | *• | 0.00 | * | 0.00 | * | 0.00 | * | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.04 | 0.68 | 0.11 (8) | 0.11 | 0.01 | 156,808 | — | |||||||||||||||||||||||||||||
| 03-31-20 | 1.00 | 0.02 | 0.00 | * | 0.02 | 0.02 | 0.00 | * | — | 0.02 | — | 1.00 | 1.61 | 0.63 | 0.41 (9) | 0.41 | 1.49 | 161,828 | — | |||||||||||||||||||||||||||||||||
| Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 1.00 | 0.02 | • | — | 0.02 | 0.02 | 0.00 | * | — | 0.02 | — | 1.00 | 2.03 | 1.54 | 1.35 (4) | 1.35 | 3.99 | 2,209 | — | |||||||||||||||||||||||||||||||||
| 03-31-24 | 1.00 | 0.04 | • | 0.00 | * | 0.04 | 0.04 | — | — | 0.04 | — | 1.00 | 3.99 | 1.57 | 1.39 (5) | 1.39 | 3.92 | 2,116 | — | |||||||||||||||||||||||||||||||||
| 03-31-23 | 1.00 | 0.02 | • | 0.00 | * | 0.02 | 0.02 | — | — | 0.02 | — | 1.00 | 1.63 | 1.62 | 1.23 (6) | 1.23 | 1.62 | 2,220 | — | |||||||||||||||||||||||||||||||||
| 03-31-22 | 1.00 | 0.00 | *• | 0.00 | * | 0.00 | — | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.09 | 1.64 | 0.05 (7) | 0.05 | 0.00 | * | 2,015 | — | ||||||||||||||||||||||||||||||
| 03-31-21 | 1.00 | 0.00 | *• | 0.00 | * | 0.00 | * | 0.00 | * | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.03 | 1.68 | 0.11 (8) | 0.11 | 0.01 | 2,321 | — | |||||||||||||||||||||||||||||
| 03-31-20 | 1.00 | 0.01 | 0.00 | * | 0.01 | 0.01 | 0.00 | * | — | 0.01 | — | 1.00 | 0.65 | 1.63 | 1.41 (9) | 1.41 | 0.56 | 2,870 | — | |||||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 1.00 | 0.03 | • | — | 0.03 | 0.03 | 0.00 | * | — | 0.03 | — | 1.00 | 2.54 | 0.52 | 0.35 (4) | 0.35 | 4.99 | 64,642 | — | |||||||||||||||||||||||||||||||||
| 03-31-24 | 1.00 | 0.05 | • | 0.00 | * | 0.05 | 0.05 | — | — | 0.05 | — | 1.00 | 5.04 | 0.48 | 0.39 (5) | 0.39 | 4.93 | 58,966 | — | |||||||||||||||||||||||||||||||||
| 03-31-23 | 1.00 | 0.03 | (0.01 | ) | 0.02 | 0.02 | — | — | 0.02 | — | 1.00 | 2.48 | 0.49 | 0.39 (6) | 0.39 | 2.63 | 56,466 | — | ||||||||||||||||||||||||||||||||||
| 03-31-22 | 1.00 | (0.00 | )*• | 0.00 | * | 0.00 | * | — | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.09 | 0.50 | 0.05 (7) | 0.05 | (0.00 | )* | 41,745 | — | |||||||||||||||||||||||||||||
| 03-31-21 | 1.00 | 0.00 | *• | 0.00 | * | 0.00 | * | 0.00 | * | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.03 | 0.57 | 0.11 (8) | 0.11 | 0.01 | 45,260 | — | |||||||||||||||||||||||||||||
| 03-31-20 | 1.00 | 0.02 | 0.00 | * | 0.02 | 0.02 | 0.00 | * | — | 0.02 | — | 1.00 | 1.63 | 0.61 | 0.41 (9) | 0.41 | 1.53 | 43,994 | — | |||||||||||||||||||||||||||||||||
| Class R6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 06-11-24+(10)- 09-30-24 | 1.00 | 0.02 | • | — | 0.02 | 0.02 | 0.00 | * | — | 0.02 | — | 1.00 | 1.52 | 0.51 | 0.35 (4) | 0.35 | 4.93 | 3 | — | |||||||||||||||||||||||||||||||||
| Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 1.00 | 0.03 | • | — | 0.03 | 0.03 | 0.00 | * | — | 0.03 | — | 1.00 | 2.54 | 0.54 | 0.35 (4) | 0.35 | 5.00 | 5,256 | — | |||||||||||||||||||||||||||||||||
| 03-31-24 | 1.00 | 0.05 | • | 0.00 | * | 0.05 | 0.05 | — | — | 0.05 | — | 1.00 | 5.04 | 0.57 | 0.39 (5) | 0.39 | 4.99 | 11,467 | — | |||||||||||||||||||||||||||||||||
| 03-31-23 | 1.00 | 0.03 | • | (0.01 | ) | 0.02 | 0.02 | — | — | 0.02 | — | 1.00 | 2.50 | 0.62 | 0.39 (6) | 0.39 | 3.37 | 1,232 | — | |||||||||||||||||||||||||||||||||
| 03-31-22 | 1.00 | 0.00 | *• | 0.00 | * | 0.00 | * | — | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.09 | 0.64 | 0.05 (7) | 0.05 | 0.00 | * | 173 | — | |||||||||||||||||||||||||||||
| 03-31-21 | 1.00 | 0.00 | *• | 0.00 | * | 0.00 | * | 0.00 | * | 0.00 | * | — | 0.00 | * | — | 1.00 | 0.04 | 0.68 | 0.11 (8) | 0.11 | 0.01 | 386 | — | |||||||||||||||||||||||||||||
| 03-31-20 | 1.00 | 0.02 | 0.00 | * | 0.02 | 0.02 | 0.00 | * | — | 0.02 | — | 1.00 | 1.61 | 0.63 | 0.41 (9) | 0.41 | 1.52 | 236 | — | |||||||||||||||||||||||||||||||||
| (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 excluding the deduction of sales charges or contingent deferred sales charges, if applicable. 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 Fund. 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 Fund 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 Fund. Net investment income (loss) is net of all such additions or reductions. |
| (4) | Expense ratios reflect waivers of 0.00%, 0.00%, 0.00%, 0.00% and 0.00% of management fees, distribution and shareholder servicing fees for Classes A, C, I, R6 and W, respectively, in order to maintain a net yield of not less than zero. |
| (5) | Expense ratios reflect waivers of 0.00%, 0.00%, 0.00% and 0.00% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero. |
See Accompanying Notes to Financial Statements
5
FINANCIAL HIGHLIGHTS (continued)
| (6) | Expense ratios reflect waivers of 0.01%, 0.18%, 0.01% and 0.01% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero. |
| (7) | Expense ratios reflect waivers of 0.35%, 1.35%, 0.35% and 0.35% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero. |
| (8) | Expense ratios reflect waivers of 0.30%, 1.30%, 0.30% and 0.30% of management fees, distribution and shareholder servicing fees for Classes A, C, I, and W, respectively, in order to maintain a net yield of not less than zero. |
| (9) | Expense ratios reflect waivers of 0.01%, 0.01%, 0.01% and 0.01% of management fees, distribution and shareholder servicing fees for Classes A, C, I and W, respectively, in order to maintain a net yield of not less than zero. |
| (10) | Commencement of operations. |
| + | Unaudited. |
| • | Calculated using average number of shares outstanding throughout the year or period. |
| * | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
See Accompanying Notes to Financial Statements
6
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited)
NOTE 1 — ORGANIZATION
Voya Funds Trust (the “Trust”) is a Delaware statutory trust and is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust was organized on August 6, 1998 and was established under a Trust Instrument dated July 30, 1998. It consists of nine separately managed series. This report is for Voya Government Money Market Fund (“Government Money Market” or the “Fund”), a diversified series of the Trust.
The Fund offers the following classes of shares: Class A, Class C, Class I, Class R6 and Class W. The separate classes of shares differ principally in the applicable sales charges (if any), distribution fees and shareholder servicing fees, as well as differences in the amount of waiver 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 fund and earn income and realized gains/losses from a fund pro rata based on the daily ending net assets of each class, without discrimination between share classes. Expenses that are specific to a fund or a class are charged directly to that fund or class. Other operating expenses shared by several funds are generally allocated among those funds based on average net assets. Dividends 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 the differences in separate class expenses, including distribution and shareholder servicing fees, if applicable, as well as differences in the amount of waiver of fees and reimbursement of expenses between the share classes, if any.
Class C shares, along with their pro rata reinvested dividend shares, automatically convert to Class A shares 8 years after purchase.
Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company, serves as the Investment Adviser to the Fund. Voya Investment Management Co. LLC (“Voya IM”), a Delaware limited liability company, serves as the sub-adviser to the Fund. Voya Investments Distributor, LLC (“VID” or the “Distributor”), a Delaware limited liability company, serves as the principal underwriter to the Fund.
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
The Fund is an investment company and accordingly follows 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 Fund in the preparation of its financial statements. The Fund 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. The Fund 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 the Fund 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 the Fund is calculated by taking the value of the Fund’s assets attributable to that class, subtracting the Fund’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when the Fund is closed for business, Fund shares will not be priced and the Fund does not transact purchase and redemption orders. To the extent the Fund’s assets are traded in other markets on days when the Fund does not price its shares, the value of the Fund’s assets will likely change and you will not be able to purchase or redeem shares of the Fund.
The Fund uses the amortized cost method to value its portfolio securities and seeks to maintain a constant NAV of $1.00 per share, although there may be circumstances under which this goal cannot be achieved. The amortized cost method involves valuing a security at its cost and amortizing any discount or premium over the period until maturity, regardless of the impact of fluctuating interest rates or the market value of the security. Although the Fund’s Board of Trustees (“Board”) has established procedures designed to stabilize, to the extent reasonably possible, the share price of the Fund, there can be no assurance that the Fund’s NAV can be maintained at $1.00 per share.
Each investment asset or liability of the Fund 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
7
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing the Fund’s investments under these levels of classification is included within the Portfolio of Investments.
The Board has delegated to the Investment Adviser responsibility for overseeing the implementation of the Fund’s valuation procedures. The Board has also designated the Investment Adviser, as the valuation designee, to make fair value determinations in good faith. In determining the fair value of the Fund’s assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or the Fund’s sub-adviser(s).
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 the Fund 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. Premium amortization and discount accretion are determined by the effective yield method.
C. Distributions to Shareholders. The Fund records distributions to its shareholders on the ex-dividend date. Dividends are declared daily from net investment income and paid monthly. The Fund distributes capital gains, if any, annually. The Fund 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 U.S. GAAP for investment companies.
D. Federal Income Taxes. It is the policy of the Fund 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 Fund’s 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 Fund 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. Repurchase Agreements. The Fund may invest in repurchase agreements only with government securities dealers recognized by the Board of Governors of the Federal Reserve System. Under such agreements, the seller of the security agrees to repurchase it at a mutually agreed upon time and price. The resale price is in excess of the purchase price and reflects an agreed upon interest rate for the period of time the agreement is outstanding. The period of the repurchase agreements is generally short, from overnight to one week (although it may extend over a number of months), while the underlying securities generally have longer maturities. The Fund will receive, as collateral, securities acceptable to it whose market value is equal to at least 100% of the carrying amount of the repurchase agreements, plus accrued interest, being invested by the Fund. The underlying collateral is valued daily on a mark to market basis to assure that the value, including accrued interest is at least equal to the repurchase price. There would be potential loss to the Fund in the event the Fund is delayed or prevented from exercising its right to dispose of the collateral, and it might incur disposition costs in liquidating the collateral.
Repurchase agreements are entered into by the Fund under Master Repurchase Agreements (“MRA”) which permit the Fund, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset receivables or payables under the MRA with collateral held and/or pledged by the counterparty and create one single net payment due to or from the Fund.
Please refer to the table within the Portfolio of Investments for open repurchase agreements subject to the MRA on a net basis at September 30, 2024.
G. Restricted Securities. The Fund 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/
8
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
H. Indemnifications. In the normal course of business, the Fund may enter into contracts that provide certain indemnifications. The Fund’s maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.
NOTE 3 — INVESTMENT MANAGEMENT FEES
The Fund has entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Fund. The Investment Adviser oversees all investment advisory and portfolio management services for the Fund and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Fund, 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, at an annual rate of 0.35% of the Fund’s average daily net assets.
The Investment Adviser has entered into a sub-advisory agreement with Voya IM. Voya IM provides investment
advice for the Fund and is paid by the Investment Adviser based on the average daily net assets of the Fund. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages the Fund’s assets in accordance with the Fund’s investment objectives, policies, and limitations.
NOTE 4 — DISTRIBUTION AND SERVICE FEES
Class C shares of the Fund have a service and distribution plan (the “Plan”), whereby the Distributor is paid an annual fee at the rate of 1.00% for Class C shares of the value of average daily net assets of the class for expenses incurred in the distribution and/or shareholder servicing of the Fund’s Class C shares. Pursuant to the Plan, the Distributor is entitled to a payment each month for the distribution and promotion of the Fund’s Class C shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any distribution or shareholder servicing fees paid to securities dealers who have executed a distribution agreement with the Distributor.
The Distributor and Investment Adviser have contractually agreed to waive a portion of their distribution and/or shareholder servicing fees and management fees, as applicable, and to reimburse certain expenses to the extent necessary to assist the Fund in maintaining a net yield of not less than zero through August 1, 2025. There is no guarantee the Fund will maintain such a yield. Distribution and shareholder servicing fees waived are not subject to recoupment. Management fees waived or expenses reimbursed are subject to possible recoupment by the Investment Adviser within three years subject to certain restrictions. For the period ended September 30, 2024, there were no waivers or reimbursements necessary to assist the Fund in maintaining a net yield of not less than zero.
Termination or modification of this obligation requires approval by the Board. Please note that these waivers or reimbursements are in addition to existing contractual expense limitations.
As of September 30, 2024, 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:
| September 30, | ||||||
| 2025 | 2026 | 2027 | Total | |||
| $382,839 | $— | $— | $382,839 | |||
The Distributor may also retain the proceeds of the contingent deferred sales charge paid by shareholders upon certain redemptions for Class C shares. For the
9
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 4 — DISTRIBUTION AND SERVICE FEES (continued)
period ended September 30, 2024, the Distributor retained the following amounts in sales charges:
| Class C | ||||
| Initial Sales Charges: | $ | — | ||
| Contingent Deferred Sales Charges: | $ | 810 | ||
NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
At September 30, 2024, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. owned more than 5% of the Fund:
| Subsidiary | Percentage | |||
| Voya Institutional Trust Company | 19.32 | % | ||
| Voya Investments Distributor, LLC | 8.95 | |||
| Voya Retirement Insurance and Annuity Company | 30.24 | |||
The Fund has adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent trustees, as described in the DC Plan, to defer the receipt of all or a portion of the trustees’ fees that they are entitled to receive from the Fund. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the trustee (the “Notional Funds”). When the Fund purchases shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the trustees’ deferred fees, this results in a Fund asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets” on the accompanying Statement of Assets and Liabilities. Deferral of trustees’ fees under the DC Plan will not affect net assets of the Fund, and will not materially affect the Fund’s assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.
The Fund may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended September 30, 2024, the per account fees for affiliated recordkeeping services paid by the Fund were $143,669.
NOTE 6 — EXPENSE LIMITATION AGREEMENT
Pursuant to a written expense limitation agreement (“Expense Limitation Agreement”) between the Investment Adviser and the Trust, on behalf of the Fund, the Investment Adviser has agreed to limit expenses of the Fund, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses and acquired fund fees and expenses to the levels listed below:
| Class A | Class C | Class I | Class R6 | Class W | ||||
| 0.35% | 1.35% | 0.35% | 0.35% | 0.35% |
The Investment Adviser may at a later date recoup from the Fund for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, the Fund’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 Statement of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statement of Assets and Liabilities.
As of September 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:
| September 30, | ||||||
| 2025 | 2026 | 2027 | Total | |||
| $205,664 | $106,066 | $141,036 | $452,766 | |||
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 September 30, 2024 are as follows:
| September 30, | ||||||||||||||||
| 2025 | 2026 | 2027 | Total | |||||||||||||
| Class A | $ | 234,446 | $ | 387,979 | $ | 360,293 | $ | 982,718 | ||||||||
| Class C | 2,926 | 3,787 | 2,973 | 9,686 | ||||||||||||
| Class I | — | 20,173 | 58,047 | 78,220 | ||||||||||||
| Class R6 | — | — | 1 | 1 | ||||||||||||
| Class W | 487 | 7,371 | 14,436 | 22,294 | ||||||||||||
The Expense Limitation Agreement is contractual through August 1, 2025 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.
NOTE 7 — LINE OF CREDIT
Effective June 10, 2024, the Fund, 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 Fund 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
10
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 7 — LINE OF CREDIT (continued)
$400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 10, 2024.
Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments
NOTE 8 — CAPITAL SHARES
Transactions in capital shares and dollars were as follows:
generally must be made within 60 days after the date of a revolving credit advance. During the period ended September 30, 2024, the Fund did not utilize the line of credit.
| Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Proceeds from shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) | ||||||||||||||
| Year or period ended | # | # | # | # | # | # | ($) | ($) | ($) | ($) | ($) | ($) | |||||||||||||
| Class A | |||||||||||||||||||||||||
| 9/30/2024 | 812,891,948 | — | 7,043,744 | (773,877,921 | ) | — | 46,057,771 | 812,891,948 | — | 7,043,743 | (773,877,921 | ) | — | 46,057,770 | |||||||||||
| 3/31/2024 | 1,430,435,227 | — | 12,170,677 | (1,394,187,271 | ) | — | 48,418,633 | 1,430,435,227 | — | 12,170,677 | (1,394,187,271 | ) | — | 48,418,633 | |||||||||||
| Class C | |||||||||||||||||||||||||
| 9/30/2024 | 372,460 | — | 45,386 | (324,562 | ) | — | 93,284 | 372,460 | — | 45,386 | (324,562 | ) | — | 93,284 | |||||||||||
| 3/31/2024 | 480,854 | — | 83,555 | (669,070 | ) | — | (104,661 | ) | 480,854 | — | 83,555 | (669,070 | ) | — | (104,661 | ) | |||||||||
| Class I | |||||||||||||||||||||||||
| 9/30/2024 | 12,974,613 | — | 1,537,482 | (8,839,486 | ) | — | 5,672,609 | 12,974,613 | — | 1,537,482 | (8,839,486 | ) | — | 5,672,609 | |||||||||||
| 3/31/2024 | 23,042,711 | — | 2,805,031 | (23,356,641 | ) | — | 2,491,101 | 23,042,711 | — | 2,805,031 | (23,356,641 | ) | — | 2,491,101 | |||||||||||
| Class R6 | |||||||||||||||||||||||||
| 6/11/2024(1)- 9/30/2024 | 3,000 | — | 46 | — | — | 3,046 | 3,000 | — | 46 | — | — | 3,046 | |||||||||||||
| Class W | |||||||||||||||||||||||||
| 9/30/2024 | 236,175 | — | 218,489 | (6,666,347 | ) | — | (6,211,683 | ) | 236,175 | — | 218,489 | (6,666,347 | ) | — | (6,211,683 | ) | |||||||||
| 3/31/2024 | 20,383,954 | — | 448,234 | (10,596,718 | ) | — | 10,235,470 | 20,383,954 | — | 448,234 | (10,596,718 | ) | — | 10,235,470 |
(1) Commencement of operations
NOTE 9 — 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.
Dividends paid by the Fund 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 March 31, 2024 | Year Ended March 31, 2023 | |||||
| Ordinary Income | Ordinary Income | |||||
| $ | 15,563,171 | $ | 6,363,850 | |||
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 March 31, 2024 were:
| Undistributed | Unrealized | Total | ||||||||||||||||||||
| Ordinary | Appreciation/ | Capital Loss Carryforwards | Distributable | |||||||||||||||||||
| Income | (Depreciation) | Amount | Character | Other | Earnings/(Loss) | |||||||||||||||||
| $ | 2,999 | $ | (33 | ) | $ | (12,475 | ) | Short-term | $ | (4,709 | ) | $ | (14,218 | ) | ||||||||
11
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 9 — FEDERAL INCOME TAXES (continued)
The Fund’s major tax jurisdictions are U.S. federal and Arizona state.
As of September 30, 2024, no provision for income tax is required in the Fund’s financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Fund’s 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 10 — 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 Fund 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 Fund 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 11 — MARKET DISRUPTION AND GEOPOLITICAL RISK
The Fund 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 the Fund’s investments. Any of these occurrences
12
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 11 — MARKET DISRUPTION AND GEOPOLITICAL RISK (continued)
could disrupt the operations of the Fund and of the Fund’s service providers.
NOTE 12 — SUBSEQUENT EVENTS
Dividends. Subsequent to September 30, 2024, the Fund declared dividends and distributions of:
| Type | Per Share Amount | Payable Date | Record Date | |||||
| Class A | NII | $0.0038 | November 1, 2024 | Daily | ||||
| Class C | NII | $0.0030 | November 1, 2024 | Daily | ||||
| Class I | NII | $0.0038 | November 1, 2024 | Daily | ||||
| Class R6 | NII | $0.0038 | November 1, 2024 | Daily | ||||
| Class W | NII | $0.0038 | November 1, 2024 | Daily | ||||
| All Classes | STCG | $0.0001 | November 1, 2024 | October 30, 2024 |
NII – Net investment income
STCG – Short-term capital gain
The Fund has evaluated events occurring after the Statement 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.
13
| Voya Government Money Market Fund | PORTFOLIO OF INVESTMENTS September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| U.S. TREASURY DEBT: 40.9% | |||||||||||
| 7,500,000 (1) | United States Treasury Bill, 4.640%, 10/29/2024 | $ | 7,472,513 | 1.9 | |||||||
| 50,000,000 (1) | United States Treasury Bill, 4.680%, 11/26/2024 | 49,638,393 | 12.9 | ||||||||
| 52,500,000 (1) | United States Treasury Bill, 4.850%, 10/31/2024 | 52,285,076 | 13.6 | ||||||||
| 29,000,000 (1) | United States Treasury Bill, 4.980%, 11/12/2024 | 28,831,381 | 7.5 | ||||||||
| 7,509,000 (1) | United States Treasury Bill, 5.270%, 10/01/2024 | 7,509,000 | 2.0 | ||||||||
| 11,500,000 (2) | United States Treasury Floating Rate Notes, 4.692%, (USBMMY3M + 0.140%), 10/31/2024 | 11,500,965 | 3.0 | ||||||||
| 157,237,328 | 40.9 | ||||||||||
| Total U.S. Treasury Debt | |||||||||||
| (Cost $157,237,328) | 157,237,328 | 40.9 | |||||||||
| U.S. GOVERNMENT AGENCY DEBT: 37.6% | |||||||||||
| 3,900,000 (2) | Federal Farm Credit Banks Funding Corp., 4.905%, (SOFRRATE + 0.065%), 09/05/2025 | 3,900,000 | 1.0 | ||||||||
| 6,250,000 (2) | Federal Farm Credit Banks Funding Corp., 5.050%, (FCPR DLY + (2.950)%), 12/16/2024 | 6,252,423 | 1.6 | ||||||||
| 16,000,000 (1) | Federal Home Loan Bank Discount Notes, 4.470%, 10/15/2024 | 15,970,755 | 4.2 | ||||||||
| 23,500,000 (1) | Federal Home Loan Bank Discount Notes, 4.580%, 10/23/2024 | 23,432,503 | 6.1 | ||||||||
| 9,000,000 | Federal Home Loan Banks, 1.150%, 12/10/2024 | 8,930,707 | 2.3 | ||||||||
| 3,000,000 (2) | Federal Home Loan Banks, 4.860%, (SOFRRATE + 0.020%), 01/02/2025 | 3,000,000 | 0.8 | ||||||||
| 18,000,000 (2) | Federal Home Loan Banks, 4.860%, (SOFRRATE + 0.020%), 03/07/2025 | 18,000,000 | 4.7 | ||||||||
| 8,000,000 (2) | Federal Home Loan Banks, 4.860%, (SOFRRATE + 0.020%), 03/10/2025 | 8,000,000 | 2.1 | ||||||||
| 7,250,000 (2) | Federal Home Loan Banks, 4.865%, (SOFRRATE + 0.025%), 03/04/2025 | 7,250,000 | 1.9 | ||||||||
| 1,500,000 (2) | Federal Home Loan Banks, 4.865%, (SOFRRATE + 0.025%), 03/20/2025 | 1,500,000 | 0.4 | ||||||||
| 4,000,000 (2) | Federal Home Loan Banks, 4.870%, (SOFRRATE + 0.030%), 04/10/2025 | 4,000,000 | 1.0 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| U.S. GOVERNMENT AGENCY DEBT: (continued) | |||||||||||
| 4,500,000 (2) | Federal Home Loan Banks, 4.890%, (SOFRRATE + 0.050%), 08/21/2025 | $ | 4,500,000 | 1.2 | |||||||
| 4,000,000 (2) | Federal Home Loan Banks, 4.905%, (SOFRRATE + 0.065%), 09/16/2025 | 4,000,000 | 1.1 | ||||||||
| 850,000 | Federal Home Loan Banks, 5.000%, 07/28/2025 | 848,426 | 0.2 | ||||||||
| 3,000,000 | Federal Home Loan Banks, 5.350%, 07/10/2025 | 2,999,534 | 0.8 | ||||||||
| 4,000,000 (2) | Federal Home Loan Banks 0002, 4.850%, (SOFRRATE + 0.010%), 12/27/2024 | 4,000,000 | 1.0 | ||||||||
| 12,000,000 (2) | Federal Home Loan Banks 0003, 4.840%, (SOFRRATE + 0.000%), 12/05/2024 | 12,000,000 | 3.1 | ||||||||
| 3,000,000 (2) | Federal Home Loan Banks 0003, 4.850%, (SOFRRATE + 0.010%), 03/03/2025 | 3,000,000 | 0.8 | ||||||||
| 8,000,000 (2) | Federal Home Loan Banks 0003, 4.865%, (SOFRRATE + 0.025%), 03/06/2025 | 8,000,000 | 2.1 | ||||||||
| 139,584,348 | 36.4 | ||||||||||
| 4,750,000 | Federal National Mortgage Association, 0.500%, 12/16/2024 | 4,705,653 | 1.2 | ||||||||
| Total U.S. Government Agency Debt | |||||||||||
| (Cost $144,290,001) | 144,290,001 | 37.6 | |||||||||
| U.S. TREASURY REPURCHASE AGREEMENTS: 17.0% | |||||||||||
| 65,241,000 | Deutsche Bank, Repurchase Agreement dated 09/27/2024, 4.820%, due 09/30/24, $67,961,287 to be received upon repurchase (Collateralized by $120,112,934, various U.S. Treasuries, 0.000%, Market Value plus accrued interest $69,972,020 due 8/15/35-5/15/42) | 65,241,000 | 17.0 | ||||||||
| Total U.S. Treasury Repurchase Agreements | |||||||||||
| (Cost $65,241,000) | 65,241,000 | 17.0 | |||||||||
See Accompanying Notes to Financial Statements
14
| Voya Government Money Market Fund | PORTFOLIO OF INVESTMENTS September 30, 2024 (Unaudited) (continued) |
| Shares | Value | Percentage of Net Assets | |||||||||
| SHORT-TERM INVESTMENTS: 9.1% | |||||||||||
| Mutual Funds: 9.1% | |||||||||||
| 17,500,000 (3) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% | $ | 17,500,000 | 4.6 | |||||||
| 17,500,000 (3) | Goldman Sachs Financial Square Government Fund, Institutional Class, 4.845% | 17,500,000 | 4.5 | ||||||||
| Total Mutual Funds | |||||||||||
| (Cost $35,000,000) | 35,000,000 | 9.1 | |||||||||
| Total Short-Term Investments | |||||||||||
| (Cost $35,000,000) | 35,000,000 | 9.1 | |||||||||
| Total Investments in Securities | |||||||||||
| (Cost $401,768,329) | $ | 401,768,329 | 104.6 | ||||||||
| Liabilities in Excess of Other Assets | (17,742,667 | ) | (4.6) | ||||||||
| Net Assets | $ | 384,025,662 | 100.0 | ||||||||
| † | Unless otherwise indicated, principal amount is shown in USD. |
| (1) | Represents a zero coupon bond. Rate shown reflects the effective yield as of September 30, 2024. |
| (2) | Variable rate security. Rate shown is the rate in effect as of September 30, 2024. |
| (3) | Rate shown is the 7-day yield as of September 30, 2024. |
Reference Rate Abbreviations:
| SOFRRATE | 1-day Secured Overnight Financing Rate |
| USBMMY3M | U.S. Treasury 3-month Bill Money Market Yield |
| FCPR DLY | Federal Reserve Bank Prime Loan Rate |
See Accompanying Notes to Financial Statements
15
| Voya Government Money Market Fund | PORTFOLIO OF INVESTMENTS September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Short-Term Investments | $ | 35,000,000 | $ | — | $ | — | $ | 35,000,000 | ||||||||
| U.S. Government Agency Debt | — | 144,290,001 | — | 144,290,001 | ||||||||||||
| U.S. Treasury Debt | — | 157,237,328 | — | 157,237,328 | ||||||||||||
| U.S. Treasury Repurchase Agreements | — | 65,241,000 | — | 65,241,000 | ||||||||||||
| Total Investments, at fair value | $ | 35,000,000 | $ | 366,768,329 | $ | — | $ | 401,768,329 | ||||||||
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
The following table is a summary of the Fund’s treasury repurchase agreement by counterparty which is subject to offset under a MRA as of September 30, 2024:
| Counterparty | U.S. Treasury Repurchase Agreements, at fair value | Fair Value of Non-Cash Collateral Received Including Accrued Interest(1) | Net Amount | |||||||||
| Deutsche Bank | $ | 65,241,000 | $ | (65,241,000 | ) | $ | — | |||||
| Totals | $ | 65,241,000 | $ | (65,241,000 | ) | $ | — | |||||
| (1) | Collateral with a fair value of $69,972,020 has been pledged in connection with the above treasury repurchase agreement. Excess collateral received from the individual counterparty is not shown for financial reporting purposes. |
At September 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 $401,768,362. | ||||
| Net unrealized depreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | — | ||
| Gross Unrealized Depreciation | (33 | ) | ||
| Net Unrealized Depreciation | $ | (33 | ) | |
See Accompanying Notes to Financial Statements
16
[This Page Intentionally Left Blank]
| 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 |
For more complete information, or to obtain a prospectus on any Voya mutual fund, please call your financial advisor or Voya Investments Distributor, LLC at (800) 992-0180 or log on to www.voyainvestments.com. The prospectus should be read carefully before investing. Consider the fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this information and other information about the fund.
163308 (0924)
Semi-Annual Financial Statements and Other Information
September 30, 2024
| ■ | Voya VACS Series EMHCD Fund |
| ■ | Voya VACS Series HYB Fund |
| ■ | Voya VACS Series SC Fund |
| 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
| Statements of Assets and Liabilities | 1 |
| Statements of Operations | 2 |
| Statements of Changes in Net Assets | 3 |
| Financial Highlights | 5 |
| Notes to Financial Statements | 6 |
| Portfolios of Investments | 16 |
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 Funds 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 Funds’ 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 Funds voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge and upon request, by calling 1-800-992-0180, or by accessing the SEC’s website at www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS
The Funds 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 Funds’ Forms NPORT-P are available on the SEC’s website at www.sec.gov.
STATEMENTS OF ASSETS AND LIABILITIES as of September 30, 2024 (Unaudited)
| Voya VACS Series EMHCD Fund | Voya VACS Series HYB Fund | Voya VACS Series SC Fund | |||||||||||
| ASSETS: | |||||||||||||
| Investments in securities at fair value+* | $ | 110,044,133 | $ | 136,044,933 | $ | 190,418,749 | |||||||
| Short-term investments at fair value† | 5,757,642 | 8,896,041 | 12,683,445 | ||||||||||
| Cash | 95,029 | 292,590 | 19,097 | ||||||||||
| Cash collateral for futures contracts | 162,245 | — | 304,200 | ||||||||||
| Foreign currencies at value‡ | 454 | — | — | ||||||||||
| Receivables: | |||||||||||||
| Investment securities sold | 1,017 | 419,944 | 1,100,095 | ||||||||||
| Fund shares sold | — | 14,933,844 | — | ||||||||||
| Dividends | 2,609 | 2,416 | 2,362 | ||||||||||
| Interest | 1,473,169 | 2,211,949 | 869,579 | ||||||||||
| Variation margin on futures contracts | 2,918 | — | 56,603 | ||||||||||
| Prepaid expenses | 6,583 | 11,756 | 9,352 | ||||||||||
| Reimbursement due from Investment Adviser | — | — | 11,025 | ||||||||||
| Other assets | 417 | 400 | 675 | ||||||||||
| Total assets | 117,546,216 | 162,813,873 | 205,475,182 | ||||||||||
| LIABILITIES: | |||||||||||||
| Income distribution payable | — | — | 288,692 | ||||||||||
| Payable for investment securities purchased | 4,447,546 | 6,117,057 | 2,997,424 | ||||||||||
| Payable for fund shares redeemed | 2,858 | 27,673 | 18,798 | ||||||||||
| Payable upon receipt of securities loaned | 944,306 | 2,969,896 | — | ||||||||||
| Payable to trustees under the deferred compensation plan (Note 5) | 417 | 400 | 675 | ||||||||||
| Payable for trustee fees | 303 | 326 | 512 | ||||||||||
| Payable for foreign capital gains tax | 155,505 | — | — | ||||||||||
| Other accrued expenses and liabilities | 28,440 | 29,166 | 40,259 | ||||||||||
| Total liabilities | 5,579,375 | 9,144,518 | 3,346,360 | ||||||||||
| NET ASSETS | $ | 111,966,841 | $ | 153,669,355 | $ | 202,128,822 | |||||||
| NET ASSETS WERE COMPRISED OF: | |||||||||||||
| Paid-in capital | $ | 100,819,118 | $ | 148,348,797 | $ | 189,646,625 | |||||||
| Total distributable earnings | 11,147,723 | 5,320,558 | 12,482,197 | ||||||||||
| NET ASSETS | $ | 111,966,841 | $ | 153,669,355 | $ | 202,128,822 | |||||||
| + | Including securities loaned at value | $ | 923,154 | $ | 2,890,816 | $ | — | ||||||
| * | Cost of investments in securities | $ | 102,702,343 | $ | 130,359,208 | $ | 176,922,965 | ||||||
| † | Cost of short-term investments | $ | 5,758,008 | $ | 8,896,402 | $ | 12,684,733 | ||||||
| ‡ | Cost of foreign currencies | $ | 441 | $ | — | $ | — | ||||||
| Net assets | $ | 111,966,841 | $ | 153,669,355 | $ | 202,128,822 | |||||||
| Shares authorized | unlimited | unlimited | unlimited | ||||||||||
| Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | |||||||
| Shares outstanding | 10,292,926 | 14,748,941 | 19,061,748 | ||||||||||
| Net asset value and redemption price per share | $ | 10.88 | $ | 10.42 | $ | 10.60 | |||||||
See Accompanying Notes to Financial Statements
1
STATEMENTS OF OPERATIONS for the six months ended September 30, 2024 (Unaudited)
| Voya VACS Series EMHCD Fund | Voya VACS Series HYB Fund | Voya VACS Series SC Fund | ||||||||||
| INVESTMENT INCOME: | ||||||||||||
| Dividends | $ | 14,908 | $ | 20,264 | $ | 32,469 | ||||||
| Interest, net of foreign taxes withheld* | 4,236,628 | 5,107,514 | 5,906,851 | |||||||||
| Securities lending income, net | 10,521 | 19,494 | — | |||||||||
| Other | 270 | 279 | 448 | |||||||||
| Total investment income | 4,262,327 | 5,147,551 | 5,939,768 | |||||||||
| EXPENSES: | ||||||||||||
| Transfer agent fees | 335 | 266 | 218 | |||||||||
| Shareholder reporting expense | 704 | 366 | 3,253 | |||||||||
| Registration fees | 13,781 | 14,149 | 10,751 | |||||||||
| Professional fees | 21,944 | 46,158 | 44,570 | |||||||||
| Custody and accounting expense | 21,115 | 12,805 | 24,215 | |||||||||
| Trustee fees | 1,515 | 1,628 | 2,560 | |||||||||
| Miscellaneous expense | 6,076 | 6,511 | 6,389 | |||||||||
| Total expenses | 65,470 | 81,883 | 91,956 | |||||||||
| Waived and reimbursed fees | — | — | (39,792 | ) | ||||||||
| Net expenses | 65,470 | 81,883 | 52,164 | |||||||||
| Net investment income | 4,196,857 | 5,065,668 | 5,887,604 | |||||||||
| REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||
| Net realized gain (loss) on: | ||||||||||||
| Investments | 2,484,588 | (6,282 | ) | 90,772 | ||||||||
| Futures | (4,197 | ) | — | 489,779 | ||||||||
| Net realized gain (loss) | 2,480,391 | (6,282 | ) | 580,551 | ||||||||
| Net change in unrealized appreciation (depreciation) on: | ||||||||||||
| Investments (net of foreign capital gains taxes accrued#) | 1,411,107 | 2,506,455 | 4,755,473 | |||||||||
| Foreign currency related transactions | 12 | — | — | |||||||||
| Futures | (18,722 | ) | — | (114,528 | ) | |||||||
| Net change in unrealized appreciation (depreciation) | 1,392,397 | 2,506,455 | 4,640,945 | |||||||||
| Net realized and unrealized gain | 3,872,788 | 2,500,173 | 5,221,496 | |||||||||
| Increase in net assets resulting from operations | $ | 8,069,645 | $ | 7,565,841 | $ | 11,109,100 | ||||||
| * Foreign taxes withheld | $ | 195 | $ | — | $ | — | ||||||
| # Change in foreign capital gains taxes accrued | $ | 155,505 | $ | — | $ | — | ||||||
See Accompanying Notes to Financial Statements
2
STATEMENTS OF CHANGES IN NET ASSETS
| Voya VACS Series EMHCD Fund | Voya VACS Series HYB Fund | ||||||||||||||||
| Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | ||||||||||||||
| FROM OPERATIONS: | |||||||||||||||||
| Net investment income | $ | 4,196,857 | $ | 9,140,803 | $ | 5,065,668 | $ | 9,995,957 | |||||||||
| Net realized gain (loss) | 2,480,391 | 2,392,274 | (6,282 | ) | (305,492 | ) | |||||||||||
| Net change in unrealized appreciation | |||||||||||||||||
| (depreciation) | 1,392,397 | 5,515,400 | 2,506,455 | 1,852,476 | |||||||||||||
| Increase in net assets resulting from | |||||||||||||||||
| operations | 8,069,645 | 17,048,477 | 7,565,841 | 11,542,941 | |||||||||||||
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||
| Total distributions (excluding return of capital) | (4,137,048 | ) | (10,236,184 | ) | (5,171,876 | ) | (9,938,067 | ) | |||||||||
| Total distributions | (4,137,048 | ) | (10,236,184 | ) | (5,171,876 | ) | (9,938,067 | ) | |||||||||
| FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||
| Net proceeds from sale of shares | 8,119,880 | 191,064 | 66,731,386 | 232,044 | |||||||||||||
| Reinvestment of distributions | 4,137,048 | 10,236,184 | 5,171,876 | 9,938,067 | |||||||||||||
| 12,256,928 | 10,427,248 | 71,903,262 | 10,170,111 | ||||||||||||||
| Cost of shares redeemed | (28,077,398 | ) | (35,087,866 | ) | (48,471,127 | ) | (8,177,674 | ) | |||||||||
| Net increase (decrease) in net assets resulting from capital share transactions | (15,820,470 | ) | (24,660,618 | ) | 23,432,135 | 1,992,437 | |||||||||||
| Net increase (decrease) in net assets | (11,887,873 | ) | (17,848,325 | ) | 25,826,100 | 3,597,311 | |||||||||||
| NET ASSETS: | |||||||||||||||||
| Beginning of year or period | 123,854,714 | 141,703,039 | 127,843,255 | 124,245,944 | |||||||||||||
| End of year or period | $ | 111,966,841 | $ | 123,854,714 | $ | 153,669,355 | $ | 127,843,255 | |||||||||
See Accompanying Notes to Financial Statements
3
STATEMENTS OF CHANGES IN NET ASSETS
| Voya VACS Series SC Fund | ||||||||
| Six Months Ended September 30, 2024 (Unaudited) | Year Ended March 31, 2024 | |||||||
| FROM OPERATIONS: | ||||||||
| Net investment income | $ | 5,887,604 | $ | 11,457,211 | ||||
| Net realized gain (loss) | 580,551 | (1,237,582 | ) | |||||
| Net change in unrealized appreciation (depreciation) | 4,640,945 | 8,940,471 | ||||||
| Increase in net assets resulting from operations | 11,109,100 | 19,160,100 | ||||||
| FROM DISTRIBUTIONS TO SHAREHOLDERS: | ||||||||
| Total distributions (excluding return of capital) | (5,733,613 | ) | (11,969,446 | ) | ||||
| Total distributions | (5,733,613 | ) | (11,969,446 | ) | ||||
| FROM CAPITAL SHARE TRANSACTIONS: | ||||||||
| Net proceeds from sale of shares | 45,736,994 | 4,851,900 | ||||||
| Reinvestment of distributions | 3,161,488 | 5,140,590 | ||||||
| 48,898,482 | 9,992,490 | |||||||
| Cost of shares redeemed | (54,659,886 | ) | (51,131,440 | ) | ||||
| Net decrease in net assets resulting from capital share transactions | (5,761,404 | ) | (41,138,950 | ) | ||||
| Net decrease in net assets | (385,917 | ) | (33,948,296 | ) | ||||
| NET ASSETS: | ||||||||
| Beginning of year or period | 202,514,739 | 236,463,035 | ||||||
| End of year or period | $ | 202,128,822 | $ | 202,514,739 | ||||
See Accompanying Notes to Financial Statements
4
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 | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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) | Expenses net of fee waivers and/or recoupments if any (2)(3) | Expenses net of all reductions/ additions (2)(3) | Net investment income (loss) (2)(3) | Net assets, end of year or period | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||
| Year or period ended | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | (%) | (%) | (%) | (%) | (%) | ($000’s) | (%) | |||||||||||||||||||||||||||||||||||
| Voya VACS Series EMHCD Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 10.53 | 0.36 | • | 0.35 | 0.71 | 0.36 | — | — | 0.36 | — | 10.88 | 6.90 | 0.11 | 0.11 | 0.11 | 6.91 | 111,967 | 51 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 10.03 | 0.67 | • | 0.58 | 1.25 | 0.67 | 0.08 | — | 0.75 | — | 10.53 | 12.98 | 0.13 | 0.13 | 0.13 | 6.68 | 123,855 | 120 | ||||||||||||||||||||||||||||||||||
| 02-17-23(4)- 03-31-23 | 10.00 | 0.07 | • | 0.03 | 0.10 | 0.07 | — | — | 0.07 | — | 10.03 | 0.98 | 0.08 | 0.08 | 0.08 | 6.43 | 141,703 | 14 | ||||||||||||||||||||||||||||||||||
| Voya VACS Series HYB Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 10.24 | 0.40 | • | 0.19 | 0.59 | 0.41 | — | — | 0.41 | — | 10.42 | 5.86 | 0.13 | 0.13 | 0.13 | 7.76 | 153,669 | 38 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 10.11 | 0.82 | • | 0.13 | 0.95 | 0.82 | — | — | 0.82 | — | 10.24 | 9.85 | 0.12 | 0.12 | 0.12 | 8.18 | 127,843 | 56 | ||||||||||||||||||||||||||||||||||
| 02-24-23(4)- 03-31-23 | 10.00 | 0.08 | • | 0.11 | 0.19 | 0.08 | — | — | 0.08 | — | 10.11 | 1.86 | 0.07 | 0.07 | 0.07 | 8.38 | 124,241 | 2 | ||||||||||||||||||||||||||||||||||
| Voya VACS Series SC Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 09-30-24+ | 10.33 | 0.30 | • | 0.26 | 0.56 | 0.29 | — | — | 0.29 | — | 10.60 | 5.52 | 0.09 | 0.05 | 0.05 | 5.73 | 202,129 | 12 | ||||||||||||||||||||||||||||||||||
| 03-31-24 | 10.00 | 0.54 | • | 0.36 | 0.90 | 0.50 | 0.07 | — | 0.57 | — | 10.33 | 9.21 | 0.08 | 0.05 | 0.05 | 5.32 | 202,515 | 16 | ||||||||||||||||||||||||||||||||||
| 03-03-23(4)- 03-31-23 | 10.00 | 0.04 | • | (0.01 | ) | 0.03 | 0.03 | — | — | 0.03 | — | 10.00 | 0.35 | 0.07 | 0.05 | 0.05 | 5.17 | 236,463 | — | |||||||||||||||||||||||||||||||||
| (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 excluding the deduction of sales charges or contingent deferred sales charges, if applicable. 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 Fund. 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 Fund 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 Fund. Net investment income (loss) is net of all such additions or reductions. |
| (4) | Commencement of operations. |
| + | Unaudited. |
| • | Calculated using average number of shares outstanding throughout the year or period. |
See Accompanying Notes to Financial Statements
5
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited)
NOTE 1 — ORGANIZATION
Voya Funds Trust is a Delaware statutory trust and is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (“1940 Act”). It was organized on August 6, 1998 and was established under a Trust Instrument dated July 30, 1998. It consists of nine separately managed series. This report is for Voya VACS Series HYB Fund (“HYB”), a diversified series of Voya Funds Trust.
Voya Separate Portfolios Trust is a Delaware statutory trust and is registered as an open-end management investment company under the 1940 Act. It was organized on March 2, 2007 and was established under a Declaration of Trust dated March 2, 2007. It consists of fourteen separately managed series. This report is for Voya VACS Series EMHCD Fund (“EMHCD”), a non-diversified series of Voya Separate Portfolios Trust and Voya Series SC Fund (“SC”), a diversified series of Voya Separate Portfolios Trust.
Voya Funds Trust and Voya Separate Portfolios Trust are each a “Trust” and collectively referred to as the “Trusts.” HYB, EMHCD and SC are each a “Fund” and collectively referred as the “Funds.” The investment objective of the Funds is described in each Fund’s Prospectus.
The Funds’ shares are not registered under the Securities Act of 1933 (the “1933 Act”) because the shares are issued solely in private placement transactions that do not involve any “public offering” within the meaning of Section 4(a)(2) of the 1933 Act. Investments in a Fund may only be made by “accredited investors,” within the meaning of Regulation D under the 1933 Act.
The Funds do not have a share class designation. All shareholders are allocated the common expenses of a fund and earn income and realized gains/ losses from a fund. Expenses that are specific to a fund are charged directly to that fund. Other operating expenses shared by several funds are generally allocated among those funds based on average net assets.
Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company, serves as the Investment Adviser to the Funds. Voya Investment Management Co. LLC (“Voya IM”), a Delaware limited liability company, serves as the sub-adviser to the Funds. Voya Investments Distributor, LLC (“VID”), a Delaware limited liability company, serves as the principal underwriter to the Funds.
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
The Funds 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 Funds in the preparation of their financial statements. Each Fund 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 Fund 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 Fund 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 Fund is calculated by taking the value of the Fund’s assets attributable to that class, subtracting the Fund’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Fund is closed for business, Fund shares will not be priced and a Fund does not transact purchase and redemption orders. To the extent each Fund’s assets are traded in other markets on days when a Fund does not price its shares, the value of a Fund’s assets will likely change and you will not be able to purchase or redeem shares of a Fund.
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 Fund 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 Fund 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 Fund’s assets, the Investment Adviser, pursuant to its fair valuation policy, may consider inputs from pricing service providers, broker-dealers, or each Fund’s sub-adviser(s). Issuer specific events, transaction price, position size, nature
6
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
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 Fund’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 Fund.
The Funds’ 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 fund 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 fund’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 Fund’s investments under these levels of classification is included within each Portfolio of Investments.
Each investment asset or liability of the Funds 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 Funds 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 Fund’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 Fund 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 Funds. Premium amortization and discount accretion are determined by the effective yield method.
C. Foreign Currency Translation. The books and records of the Funds 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 |
7
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
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 Funds 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 that 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 values. 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 taxes recorded on the Funds 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. Risk Exposures and the Use of Derivative Instruments. Each Fund’s investment objectives permit them to enter into various types of derivatives contracts, including, but not limited to, forward foreign currency exchange contracts, futures, purchased options, written options, and swaps. In doing so, the Funds will employ strategies in differing combinations to permit them to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow each Fund to pursue its objectives more quickly, and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.
In pursuit of their investment objectives, each Fund may seek to increase or decrease their 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.
Foreign Exchange Rate Risk. To the extent that each Fund 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 Fund 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 [a Fund’s] 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
8
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
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. Each Fund’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 the Funds are using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Fund, 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 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 Fund. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Fund and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Fund 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 Fund 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 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 Fund 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 the Funds. Each Fund’s derivative counterparties are financial institutions who are subject to market conditions that may weaken their financial position. The Fund intends to enter into financial transactions with counterparties that they believe to be creditworthy at the time of the transaction. To reduce this risk, the Fund generally enters into master netting arrangements, established within the Fund’s International Swap and Derivatives Association, Inc. (“ISDA”) Master Agreements (“Master Agreements”). These agreements are with select counterparties and they govern transactions, including certain OTC derivative and forward foreign currency contracts, entered into by the Fund 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.
Each Fund may also enter into collateral agreements with certain counterparties to further mitigate credit risk associated with 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 the Funds 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.
Each Fund’s Master Agreements with derivative counterparties have credit related contingent features that if triggered would allow their derivatives counterparties to close out and demand payment or additional collateral to cover their exposure from the Fund. Credit related contingent features are established between a Fund and its derivatives counterparties to reduce the risk that the Fund will not fulfill their payment obligations to their counterparties. These triggering features include, but are not limited to, a percentage decrease in a Fund’s net assets and or a percentage decrease in the Fund’s NAV, which could cause the Fund to accelerate payment of any net liability owed to the counterparty. The contingent features are established within each Fund’s Master Agreements.
9
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
There were no open OTC derivatives for any Fund at September 30, 2024.
E. Forward Foreign Currency Transactions and Futures Contracts. Each Fund may enter into foreign currency exchange transactions to convert to and from different foreign currencies and to and from the U.S. dollar in connection with the planned purchases or sales of securities. The Fund either enters into these transactions on a spot basis at the spot rate prevailing in the foreign currency exchange market or use forward foreign currency contracts to purchase or sell foreign currencies. When the contract is fulfilled or closed, gains or losses are realized. Until then, the gain or loss is included in unrealized appreciation or depreciation. Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their forward contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar.
Each Fund may enter into futures contracts involving foreign currency, interest rates, securities and securities indices. The Funds intend to limit its use of futures contracts and futures options to “bona fide hedging” transactions, as such term is defined in applicable regulations, interpretations and practice. A futures contract obligates the seller of the contract to deliver and the purchaser of the contract to take delivery of the type of foreign currency, financial instrument or security called for in the contract at a specified future time for a specified price.
Upon entering into a futures contract, each Fund 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 Fund 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, if any, are reported on a table within each Fund’s Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements, if any, 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 each Fund’s Statement of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in each Fund’s Statement of Operations. Realized gains (losses) are reported in the Fund’s Statement 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 September 30, 2024, EMHCD and SC had purchased and sold futures contracts on various bonds and notes to gain exposure to different parts of the yield curve while maintaining overall duration. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where a Fund 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 the Fund’s securities. With futures, there is minimal counterparty credit risk to a Fund 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 September 30, 2024, the Funds had average notional values on futures contracts purchased and sold as disclosed below:
| Purchased | Sold | |||||||
| EMHCD | $ | 17,346,998 | $ | 16,375,323 | ||||
| SC | 20,976,200 | 33,992,732 |
Please refer to the tables within the Portfolio of Investments for open futures contracts at September 30, 2024. HYB did not enter into any futures contracts during the period ended September 30, 2024.
F. Distributions to Shareholders. Each Fund records distributions to the shareholders on the ex-dividend date. The Funds distribute capital gains, if any, annually. The Funds declare dividends daily and pay dividends monthly. 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.
G. Federal Income Taxes. It is the policy of each Fund 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 a Fund’s 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.
Each Fund may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.
H. 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
10
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)
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.
I. Restricted Securities. Each Fund 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.
J. Indemnifications. In the normal course of business, the Trusts may enter into contracts that provide certain indemnifications. The Trusts’ maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated; however, based on experience, management considers risk of loss from such claims remote.
NOTE 3 — INVESTMENT TRANSACTIONS
For the period ended September 30, 2024, the cost of purchases and the proceeds from the sales of securities excluding short-term and U.S. government securities, were as follows:
| Purchases | Sales | |||||||
| EMHCD | $ | 58,635,331 | $ | 70,742,504 | ||||
| HYB | 58,382,158 | 48,318,655 | ||||||
| SC | 21,346,361 | 27,470,960 |
U.S. government securities not included above were as follows:
| Purchases | Sales | |||||||
| HYB | $ | 374,700 | $ | — | ||||
| SC | 542,500 | 943,847 | ||||||
NOTE 4 — INVESTMENT MANAGEMENT FEES
Each Fund has entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Funds. The Investment Adviser oversees all investment advisory and portfolio management services for the Funds and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Funds, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services.
There is no management fee charged per the Management Agreement for EMHCD, HYB, and SC.
The Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Fund. Voya IM provides investment advice for the Funds and is paid by the Investment Adviser based on the average daily net assets of each respective Fund. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages each Fund’s assets in accordance with each Fund’s investment objectives, policies, and limitations.
NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES
At September 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 Funds:
| Subsidiary/ Affiliated Investment Company | Fund | Percentage | ||
| Voya Balanced Income Portfolio | EMHCD | 9.16% | ||
| HYB | 19.12 | |||
| SC | 15.53 | |||
| Voya Intermediate Bond Portfolio | EMHCD | 68.30 | ||
| HYB | 17.77 | |||
| SC | 27.95 | |||
| Voya Investment Management Co. LLC | ||||
| EMHCD | 16.95 | |||
| HYB | 24.63 | |||
| SC | 38.48 | |||
| Voya Retirement Insurance and Annuity Company | HYB | 27.43 | ||
11
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)
The Funds have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent trustees, as described in the DC Plan, to defer the receipt of all or a portion of the trustees’ fees that they are entitled to receive from the Funds. For purposes of determining the amount owed to the trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the trustee (the “Notional Funds”). When the Funds purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the trustees’ deferred fees, this results in a Fund 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 trustees’ fees under the DC Plan will not affect net assets of the Funds, and will not materially affect the Funds’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.
The Funds may pay per account fees to affiliates of Voya Investments for recordkeeping services provided on certain assets. For the period ended September 30, 2024, the Funds did not pay any amounts for affiliated recordkeeping services.
NOTE 6 — EXPENSE LIMITATION AGREEMENTS
Pursuant to a written expense limitation agreement (“Expense Limitation Agreement”) between the Investment Adviser and the Trusts, on behalf of each Fund, the Investment Adviser has agreed to limit expenses of each Fund, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses and acquired fund fees and expenses to the levels listed below:
| Fund | Expense Limit | |
| EMHCD | 0.15% | |
| HYB | 0.15% | |
| SC | 0.05% |
The Investment Adviser may at a later date recoup from the Fund for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, the Fund’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 September 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:
| September 30, | |||||||||||||||||
| 2025 | 2026 | 2027 | Total | ||||||||||||||
| SC | $ | — | $ | 29,951 | $ | 80,012 | $ | 109,963 | |||||||||
The Expense Limitation Agreement is contractual through August 1, 2025 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.
NOTE 7 — LINE OF CREDIT
Effective on June 10, 2024, the Funds, in addition to certain other funds managed by the Investment Adviser, each Fund 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 Fund 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 $400,000,000 and the funds to which the line of credit was available paid a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount through June 10, 2024.
Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.
The Funds did not utilize the line of credit during the period ended September 30, 2024.
12
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 8 — CAPITAL SHARES
Transactions in capital shares and dollars are as follows:
| Proceeds | ||||||||||||||||||||||||
| Net increase | from | |||||||||||||||||||||||
| Shares | Reinvestment | (decrease) in | shares | Reinvestment | ||||||||||||||||||||
| Shares | issued in | of | Shares | Shares | shares | Shares | issued in | of | Shares | Shares | Net increase | |||||||||||||
| sold | merger | distributions | redeemed | converted | outstanding | sold | merger | distributions | redeemed | converted | (decrease) | |||||||||||||
| Year or period ended | # | # | # | # | # | # | ($) | ($) | ($) | ($) | ($) | ($) | ||||||||||||
| EMHCD | ||||||||||||||||||||||||
| 9/30/2024 | 758,943 | — | 392,706 | (2,624,113) | — | (1,472,464) | 8,119,880 | — | 4,137,048 | (28,077,398) | — | (15,820,470) | ||||||||||||
| 3/31/2024 | 19,005 | — | 1,013,377 | (3,396,842) | — | (2,364,460) | 191,064 | — | 10,236,184 | (35,087,866) | — | (24,660,618) | ||||||||||||
| HYB | ||||||||||||||||||||||||
| 9/30/2024 | 6,488,963 | — | 504,769 | (4,728,712) | — | 2,265,020 | 66,731,386 | — | 5,171,876 | (48,471,127) | — | 23,432,135 | ||||||||||||
| 3/31/2024 | 23,074 | — | 987,151 | (817,694) | — | 192,531 | 232,044 | — | 9,938,067 | (8,177,674) | — | 1,992,437 | ||||||||||||
| SC | ||||||||||||||||||||||||
| 9/30/2024 | 4,348,389 | — | 301,717 | (5,188,441) | — | (538,335) | 45,736,994 | — | 3,161,488 | (54,659,886) | — | (5,761,404) | ||||||||||||
| 3/31/2024 | 474,327 | — | 506,298 | (5,035,221) | — | (4,054,596) | 4,851,900 | — | 5,140,590 | (51,131,440) | — | (41,138,950) |
NOTE 9 — SECURITIES LENDING
Under a Master Securities Lending Agreement (the “Agreement”) with BNY, the Funds 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 the close of business of the Funds 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 Fund on the next business day. The cash collateral received is invested in approved investments as defined in the Securities Lending Agreement with BNY (the “Agreement”). The Funds bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Funds 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 Funds 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 Funds in the event the Funds are delayed or prevented from exercising its 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 fund.
The following tables represent a summary of each respective Fund’s securities lending agreements by counterparty which are subject to offset under the Agreement as of September 30, 2024:
EMHCD
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| BofA Securities Inc | $ | 92,108 | $ | (92,108 | ) | $ | — | |||||
| Jefferies International Ltd | 438,331 | (438,331 | ) | — | ||||||||
| Jefferies LLC | 276,324 | (276,324 | ) | — | ||||||||
| Merrill Lynch International | 116,391 | (116,391 | ) | — | ||||||||
| Total | $ | 923,154 | $ | (923,154 | ) | $ | — | |||||
| (1) | Cash collateral with a fair value of $944,306 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. |
HYB
| Counterparty | Securities Loaned at Value | Cash Collateral Received(1) | Net Amount | |||||||||
| BofA Securities Inc | $ | 587,120 | $ | (587,120 | ) | $ | — | |||||
| Jefferies LLC | 498,460 | (498,460 | ) | — | ||||||||
| Mizuho Securities USA LLC. | 459,786 | (459,786 | ) | — | ||||||||
| Scotia Capital (USA) INC | 978,214 | (978,214 | ) | — | ||||||||
| Truist Securities INC | 75,748 | (75,748 | ) | — | ||||||||
13
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 9 — SECURITIES LENDING (continued)
| Securities | Cash Collateral | Net | ||||||||||
| Counterparty | Loaned at Value | Received(1) | Amount | |||||||||
| Wells Fargo Bank NA | $ | 291,488 | $ | (291,488 | ) | $ | — | |||||
| Total | $ | 2,890,816 | $ | (2,890,816 | ) | $ | — | |||||
| (1) | Cash collateral with a fair value of $2,969,896 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 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 futures contracts, paydowns and perpetual preferred securities.
Dividends paid by the Funds 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 | Year Ended | |||||||||||
| March 31, 2024 | March 31, 2023 | |||||||||||
| Ordinary | Long-term | Ordinary | ||||||||||
| Income | Capital Gains | Income | ||||||||||
| EMHCD | $ | 9,795,774 | $ | 440,410 | $ | 952,864 | ||||||
| HYB | 9,938,067 | — | 918,323 | |||||||||
| SC | 11,312,104 | 657,342 | 820,674 | |||||||||
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 March 31, 2024 were:
| Undistributed | Undistributed | Post-October | Unrealized | Total | ||||||||||||||||||||||||||||
| Ordinary | Long-term | Capital Losses | Appreciation/ | Capital Loss Carryforwards | Distributable | |||||||||||||||||||||||||||
| Income | Capital Gains | Deferred | (Depreciation) | Amount | Character | Other | Earnings/(Loss) | |||||||||||||||||||||||||
| EMHCD | $ | 1,228,513 | $ | 225,245 | $ | — | $ | 5,761,368 | $ | — | — | $ | — | $ | 7,215,126 | |||||||||||||||||
| HYB | 57,893 | — | — | 3,169,140 | (158,653 | ) | Short-term | — | 2,926,593 | |||||||||||||||||||||||
| (141,787 | ) | Long-term | ||||||||||||||||||||||||||||||
| $ | (300,440 | ) | ||||||||||||||||||||||||||||||
| SC | 1,411,858 | — | (2,577,575 | ) | 8,739,024 | — | — | (466,596 | ) | 7,106,711 | ||||||||||||||||||||||
The Funds’ major tax jurisdictions are U.S. federal and Arizona state.
As of September 30, 2024, no provision for income tax is required in the Funds’ financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Funds’ 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 Fund may be a party have historically been tied to LIBOR. In connection with the global transition away from LIBOR led by regulators
14
NOTES TO FINANCIAL STATEMENTS as of September 30, 2024 (Unaudited) (continued)
NOTE 11 — LONDON INTERBANK OFFERED RATE (“LIBOR”) (continued)
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 Fund 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 Fund 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 Fund’s investments. Any of these occurrences could disrupt the operations of a Fund and of a Fund’s service providers.
NOTE 13 — SUBSEQUENT EVENTS
Registration: At the September 26, 2024 meeting of the Funds’ Board, the Board approved the registration of the Funds’ shares under the 1933 Act, with a proposed effectiveness date of March 1, 2024.
Dividends: Subsequent to September 30, 2024, the Funds declared dividends from net investment income of:
| Per Share | Payable | Record | ||||
| Amount | Date | Date | ||||
| EMHCD | $0.0597 | November 1, 2024 | Daily | |||
| HYB | $0.0646 | November 1, 2024 | Daily | |||
| SC | $0.0598 | November 1, 2024 | Daily |
The Funds 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.
15
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: 58.1% | ||||||||||
| Angola: 1.0% | ||||||||||
| 550,000 (1) | Angolan Government International Bond, 8.000%, 11/26/2029 | $ | 499,125 | 0.4 | ||||||
| 750,000 | Angolan Government International Bond, 8.750%, 04/14/2032 | 675,233 | 0.6 | |||||||
| 1,174,358 | 1.0 | |||||||||
| Argentina: 1.9% | ||||||||||
| 1,136,426 (2) | Argentine Republic Government International Bond, 0.750% (Step Rate @ 1.750% on 07/09/2027), 07/09/2030 | 699,482 | 0.6 | |||||||
| 224,111 | Argentine Republic Government International Bond, 1.000%, 07/09/2029 | 146,120 | 0.2 | |||||||
| 2,156,220 (2) | Argentine Republic Government International Bond, 4.125% (Step Rate @ 4.750% on 07/09/2027), 07/09/2035 | 1,039,298 | 0.9 | |||||||
| 451,019 (3) | Argentine Republic Government International Bond, 5.000% (Step Rate @ 5.000% on 07/09/2024), 01/09/2038 | 237,687 | 0.2 | |||||||
| 2,122,587 | 1.9 | |||||||||
| Bahrain: 2.2% | ||||||||||
| 1,700,000 | Bahrain Government International Bond, 7.375%, 05/14/2030 | 1,840,233 | 1.6 | |||||||
| 600,000 (1) | Bahrain Government International Bond, 7.500%, 02/12/2036 | 651,000 | 0.6 | |||||||
| 2,491,233 | 2.2 | |||||||||
| Brazil: 2.7% | ||||||||||
| 400,000 | Brazilian Government International Bond, 5.625%, 02/21/2047 | 354,864 | 0.3 | |||||||
| 500,000 | Brazilian Government International Bond, 6.000%, 10/20/2033 | 509,480 | 0.5 | |||||||
| 200,000 | Brazilian Government International Bond, 6.125%, 03/15/2034 | 204,200 | 0.2 | |||||||
| 945,000 | Brazilian Government International Bond, 6.250%, 03/18/2031 | 989,632 | 0.9 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| Brazil: (continued) | ||||||||||
| 900,000 | Brazilian Government International Bond, 7.125%, 05/13/2054 | $ | 935,807 | 0.8 | ||||||
| 2,993,983 | 2.7 | |||||||||
| Colombia: 2.4% | ||||||||||
| 500,000 | Colombia Government International Bond, 3.250%, 04/22/2032 | 404,000 | 0.4 | |||||||
| 800,000 | Colombia Government International Bond, 4.125%, 05/15/2051 | 506,200 | 0.4 | |||||||
| 550,000 | Colombia Government International Bond, 5.000%, 06/15/2045 | 405,763 | 0.4 | |||||||
| 500,000 | Colombia Government International Bond, 6.125%, 01/18/2041 | 440,940 | 0.4 | |||||||
| 464,000 | Colombia Government International Bond, 8.000%, 04/20/2033 | 499,417 | 0.4 | |||||||
| 455,000 | Colombia Government International Bond, 8.000%, 11/14/2035 | 485,712 | 0.4 | |||||||
| 2,742,032 | 2.4 | |||||||||
| Costa Rica: 1.0% | ||||||||||
| 575,000 | Costa Rica Government International Bond, 6.125%, 02/19/2031 | 598,000 | 0.5 | |||||||
| 450,000 (1) | Costa Rica Government International Bond, 7.300%, 11/13/2054 | 498,780 | 0.5 | |||||||
| 1,096,780 | 1.0 | |||||||||
| Cote d’Ivoire: 0.8% | ||||||||||
| 300,000 (1) | Ivory Coast Government International Bond, 7.625%, 01/30/2033 | 309,000 | 0.3 | |||||||
| 375,000 (1) | Ivory Coast Government International Bond, 8.250%, 01/30/2037 | 386,484 | 0.3 | |||||||
| 180,979 (3) | Ivory Coast Government International Bond REGs, 5.750%, 12/31/2032 | 173,447 | 0.2 | |||||||
| 868,931 | 0.8 | |||||||||
| Dominican Republic: 2.8% | ||||||||||
| 200,000 (1) | Dominican Republic International Bond, 4.875%, 09/23/2032 | 191,425 | 0.2 | |||||||
| 500,000 (1) | Dominican Republic International Bond, 5.300%, 01/21/2041 | 462,812 | 0.4 | |||||||
See Accompanying Notes to Financial Statements
16
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| Dominican Republic: (continued) | ||||||||||
| 1,050,000 | Dominican Republic International Bond, 5.875%, 01/30/2060 | $ | 989,559 | 0.9 | ||||||
| 550,000 | Dominican Republic International Bond, 6.000%, 07/19/2028 | 565,180 | 0.5 | |||||||
| 350,000 (1) | Dominican Republic International Bond, 6.000%, 02/22/2033 | 359,188 | 0.3 | |||||||
| 350,000 (1) | Dominican Republic International Bond, 6.875%, 01/29/2026 | 357,547 | 0.3 | |||||||
| 150,000 (1) | Dominican Republic International Bond, 7.050%, 02/03/2031 | 162,047 | 0.2 | |||||||
| 3,087,758 | 2.8 | |||||||||
| Ecuador: 1.1% | ||||||||||
| 442,550 (1)(2) | Ecuador Government International Bond, 5.000% (Step Rate @ 5.500% on 07/31/2026), 07/31/2040 | 231,675 | 0.2 | |||||||
| 1,132,845 (1)(2) | Ecuador Government International Bond, 5.500% (Step Rate @ 6.900% on 07/31/2025), 07/31/2035 | 648,554 | 0.6 | |||||||
| 500,850 (3) | Ecuador Government International Bond, 6.900%, 07/31/2030 | 365,871 | 0.3 | |||||||
| 1,246,100 | 1.1 | |||||||||
| Egypt: 2.2% | ||||||||||
| 800,000 | Egypt Government International Bond, 5.800%, 09/30/2027 | 759,000 | 0.7 | |||||||
| 500,000 (1) | Egypt Government International Bond, 7.500%, 02/16/2061 | 364,378 | 0.3 | |||||||
| 1,250,000 (1) | Egypt Government International Bond, 8.700%, 03/01/2049 | 1,028,912 | 0.9 | |||||||
| 350,000 (1) | Egypt Government International Bond, 8.875%, 05/29/2050 | 290,493 | 0.3 | |||||||
| 2,442,783 | 2.2 | |||||||||
| El Salvador: 0.4% | ||||||||||
| 443,000 (1) | El Salvador Government International Bond, 6.375%, 01/18/2027 | 427,495 | 0.4 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| Gabon: 0.2% | ||||||||||
| 300,000 (1) | Gabon Government International Bond, 6.625%, 02/06/2031 | $ | 232,969 | 0.2 | ||||||
| Ghana: 1.1% | ||||||||||
| 550,000 (4) | Ghana Government International Bond, 7.875%, 03/26/2027 | 297,000 | 0.2 | |||||||
| 1,250,000 (4) | Ghana Government International Bond, 7.875%, 02/11/2035 | 685,937 | 0.6 | |||||||
| 550,000 (4) | Ghana Government International Bond, 8.750%, 03/11/2061 | 301,125 | 0.3 | |||||||
| 1,284,062 | 1.1 | |||||||||
| Guatemala: 1.6% | ||||||||||
| 435,000 (1) | Guatemala Government Bond, 5.250%, 08/10/2029 | 431,085 | 0.4 | |||||||
| 600,000 (1) | Guatemala Government Bond, 6.050%, 08/06/2031 | 615,180 | 0.5 | |||||||
| 250,000 (1) | Guatemala Government Bond, 6.550%, 02/06/2037 | 259,800 | 0.2 | |||||||
| 500,000 (1) | Guatemala Government Bond, 6.600%, 06/13/2036 | 525,250 | 0.5 | |||||||
| 1,831,315 | 1.6 | |||||||||
| Honduras: 0.4% | ||||||||||
| 250,000 (5) | Honduras Government International Bond, 5.625%, 06/24/2030 | 221,500 | 0.2 | |||||||
| 200,000 | Honduras Government International Bond, 6.250%, 01/19/2027 | 194,000 | 0.2 | |||||||
| 415,500 | 0.4 | |||||||||
| Hungary: 1.8% | ||||||||||
| 500,000 (1) | Hungary Government International Bond, 3.125%, 09/21/2051 | 336,325 | 0.3 | |||||||
| 450,000 (1) | Hungary Government International Bond, 5.500%, 06/16/2034 | 460,150 | 0.4 | |||||||
| 500,000 | Hungary Government International Bond 30Y, 7.625%, 03/29/2041 | 597,343 | 0.5 | |||||||
| 650,000 (1) | Magyar Export-Import Bank Zrt, 6.125%, 12/04/2027 | 669,705 | 0.6 | |||||||
| 2,063,523 | 1.8 | |||||||||
See Accompanying Notes to Financial Statements
17
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| India: 0.2% | ||||||||||
| 300,000 | Export-Import Bank of India, 2.250%, 01/13/2031 | $ | 260,813 | 0.2 | ||||||
| Indonesia: 1.9% | ||||||||||
| 350,000 | Indonesia Government International Bond, 5.250%, 01/17/2042 | 365,203 | 0.3 | |||||||
| 320,000 | Indonesia Government International Bond, 5.450%, 09/20/2052 | 340,000 | 0.3 | |||||||
| 1,050,000 | Indonesia Government International Bond, 8.500%, 10/12/2035 | 1,386,328 | 1.3 | |||||||
| 2,091,531 | 1.9 | |||||||||
| Jamaica: 1.0% | ||||||||||
| 400,000 | Jamaica Government International Bond, 7.875%, 07/28/2045 | 494,600 | 0.4 | |||||||
| 500,000 | Jamaica Government International Bond, 8.000%, 03/15/2039 | 619,688 | 0.6 | |||||||
| 1,114,288 | 1.0 | |||||||||
| Jordan: 0.8% | ||||||||||
| 1,000,000 (1) | Jordan Government International Bond, 5.850%, 07/07/2030 | 942,500 | 0.8 | |||||||
| Kenya: 1.0% | ||||||||||
| 250,000 | Republic of Kenya Government International Bond, 6.300%, 01/23/2034 | 204,688 | 0.2 | |||||||
| 500,000 | Republic of Kenya Government International Bond, 7.250%, 02/28/2028 | 482,500 | 0.4 | |||||||
| 225,000 | Republic of Kenya Government International Bond, 8.000%, 05/22/2032 | 209,260 | 0.2 | |||||||
| 250,000 (5) | Republic of Kenya Government International Bond, 8.250%, 02/28/2048 | 212,500 | 0.2 | |||||||
| 1,108,948 | 1.0 | |||||||||
| Lebanon: 0.3% | ||||||||||
| 2,000,000 (4) | Lebanon Government International Bond, 6.100%, 10/04/2022 | 160,000 | 0.1 | |||||||
| 2,000,000 (4) | Lebanon Government International Bond 10Y, 6.850%, 03/23/2027 | 160,000 | 0.2 | |||||||
| 320,000 | 0.3 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| Mexico: 2.5% | ||||||||||
| 740,000 | Mexico Government International Bond, 3.250%, 04/16/2030 | $ | 679,690 | 0.6 | ||||||
| 950,000 | Mexico Government International Bond, 4.875%, 05/19/2033 | 912,000 | 0.8 | |||||||
| 1,179,000 | Mexico Government International Bond, 6.338%, 05/04/2053 | 1,175,684 | 1.1 | |||||||
| 2,767,374 | 2.5 | |||||||||
| Morocco: 0.3% | ||||||||||
| 500,000 (1) | Morocco Government International Bond, 4.000%, 12/15/2050 | 372,344 | 0.3 | |||||||
| Nigeria: 1.8% | ||||||||||
| 500,000 | Nigeria Government International Bond, 6.500%, 11/28/2027 | 470,938 | 0.4 | |||||||
| 550,000 (1) | Nigeria Government International Bond, 7.375%, 09/28/2033 | 468,050 | 0.4 | |||||||
| 500,000 | Nigeria Government International Bond, 7.696%, 02/23/2038 | 409,687 | 0.4 | |||||||
| 475,000 | Nigeria Government International Bond, 7.875%, 02/16/2032 | 429,281 | 0.4 | |||||||
| 300,000 | Nigeria Government International Bond, 7.875%, 02/16/2032 | 271,125 | 0.2 | |||||||
| 2,049,081 | 1.8 | |||||||||
| Oman: 0.9% | ||||||||||
| 600,000 | Oman Government International Bond, 6.000%, 08/01/2029 | 630,563 | 0.6 | |||||||
| 350,000 (1) | Oman Government International Bond, 6.500%, 03/08/2047 | 370,234 | 0.3 | |||||||
| 1,000,797 | 0.9 | |||||||||
| Panama: 3.0% | ||||||||||
| 300,000 | Panama Government International Bond, 4.500%, 04/16/2050 | 221,553 | 0.2 | |||||||
| 550,000 | Panama Government International Bond, 4.500%, 01/19/2063 | 387,236 | 0.3 | |||||||
| 500,000 | Panama Government International Bond, 6.400%, 02/14/2035 | 513,283 | 0.5 | |||||||
| 550,000 | Panama Government International Bond, 6.700%, 01/26/2036 | 576,295 | 0.5 | |||||||
| 600,000 | Panama Government International Bond, 6.875%, 01/31/2036 | 631,875 | 0.6 | |||||||
See Accompanying Notes to Financial Statements
18
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| Panama: (continued) | ||||||||||
| 410,000 | Panama Government International Bond, 7.500%, 03/01/2031 | $ | 449,360 | 0.4 | ||||||
| 540,000 | Panama Government International Bond, 8.000%, 03/01/2038 | 610,335 | 0.5 | |||||||
| 3,389,937 | 3.0 | |||||||||
| Paraguay: 1.6% | ||||||||||
| 144,000 | Paraguay Government International Bond, 5.000%, 04/15/2026 | 144,297 | 0.1 | |||||||
| 650,000 | Paraguay Government International Bond, 5.600%, 03/13/2048 | 624,162 | 0.6 | |||||||
| 550,000 (1) | Paraguay Government International Bond, 5.850%, 08/21/2033 | 574,337 | 0.5 | |||||||
| 425,000 (1) | Paraguay Government International Bond, 6.000%, 02/09/2036 | 449,013 | 0.4 | |||||||
| 1,791,809 | 1.6 | |||||||||
| Peru: 0.2% | ||||||||||
| 250,000 | Peruvian Government International Bond, 5.625%, 11/18/2050 | 258,299 | 0.2 | |||||||
| Philippines: 1.0% | ||||||||||
| 550,000 | Philippine Government International Bond, 5.500%, 01/17/2048 | 588,065 | 0.5 | |||||||
| 500,000 | Philippine Government International Bond, 5.950%, 10/13/2047 | 564,375 | 0.5 | |||||||
| 1,152,440 | 1.0 | |||||||||
| Poland: 0.7% | ||||||||||
| 800,000 | Republic of Poland Government International Bond, 5.500%, 03/18/2054 | 817,344 | 0.7 | |||||||
| Qatar: 0.7% | ||||||||||
| 550,000 (1) | Qatar Government International Bond, 4.400%, 04/16/2050 | 510,125 | 0.5 | |||||||
| 250,000 (1) | Qatar Government International Bond, 4.817%, 03/14/2049 | 247,578 | 0.2 | |||||||
| 757,703 | 0.7 | |||||||||
| Romania: 4.0% | ||||||||||
| 1,250,000 (1) | Romanian Government International Bond, 3.000%, 02/14/2031 | 1,090,938 | 1.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| Romania: (continued) | ||||||||||
| 500,000 (1) | Romanian Government International Bond, 3.625%, 03/27/2032 | $ | 446,094 | 0.4 | ||||||
| 200,000 | Romanian Government International Bond, 4.000%, 02/14/2051 | 145,900 | 0.1 | |||||||
| 300,000 | Romanian Government International Bond, 5.125%, 06/15/2048 | 262,125 | 0.3 | |||||||
| 684,000 (1) | Romanian Government International Bond, 5.750%, 03/24/2035 | 680,152 | 0.6 | |||||||
| 300,000 | Romanian Government International Bond, 6.375%, 01/30/2034 | 312,375 | 0.3 | |||||||
| 1,218,000 (1) | Romanian Government International Bond, 6.375%, 01/30/2034 | 1,268,242 | 1.1 | |||||||
| 200,000 (5) | Romanian Government International Bond, 7.625%, 01/17/2053 | 230,373 | 0.2 | |||||||
| 4,436,199 | 4.0 | |||||||||
| Saudi Arabia: 2.7% | ||||||||||
| 1,700,000 | Saudi Government International Bond, 3.450%, 02/02/2061 | 1,157,751 | 1.0 | |||||||
| 600,000 | Saudi Government International Bond, 3.750%, 01/21/2055 | 444,188 | 0.4 | |||||||
| 850,000 (1) | Saudi Government International Bond, 5.500%, 10/25/2032 | 904,187 | 0.8 | |||||||
| 500,000 | Saudi Government International Bond, 5.750%, 01/16/2054 | 510,625 | 0.5 | |||||||
| 3,016,751 | 2.7 | |||||||||
| Senegal: 0.4% | ||||||||||
| 500,000 | Senegal Government International Bond, 6.250%, 05/23/2033 | 432,344 | 0.4 | |||||||
| Serbia: 0.5% | ||||||||||
| 250,000 | Serbia International Bond, 2.125%, 12/01/2030 | 209,813 | 0.2 | |||||||
| 275,000 (1) | Serbia International Bond, 6.500%, 09/26/2033 | 294,636 | 0.3 | |||||||
| 504,449 | 0.5 | |||||||||
See Accompanying Notes to Financial Statements
19
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| South Africa: 2.2% | ||||||||||
| 1,300,000 | Republic of South Africa Government International Bond, 4.300%, 10/12/2028 | $ | 1,260,727 | 1.1 | ||||||
| 500,000 | Republic of South Africa Government International Bond, 5.750%, 09/30/2049 | 416,250 | 0.4 | |||||||
| 250,000 | Republic of South Africa Government International Bond, 5.875%, 04/20/2032 | 249,062 | 0.2 | |||||||
| 600,000 | Republic of South Africa Government International Bond, 6.300%, 06/22/2048 | 538,500 | 0.5 | |||||||
| 2,464,539 | 2.2 | |||||||||
| Sri Lanka: 1.0% | ||||||||||
| 300,000 (1)(4) | Sri Lanka Government International Bond, 5.875%, 07/25/2022 | 165,000 | 0.1 | |||||||
| 1,300,000 (1)(4) | Sri Lanka Government International Bond, 6.825%, 07/18/2026 | 736,937 | 0.7 | |||||||
| 350,000 (4) | Sri Lanka Government International Bond, 7.550%, 03/28/2030 | 197,421 | 0.2 | |||||||
| 1,099,358 | 1.0 | |||||||||
| Trinidad and Tobago: 0.4% | ||||||||||
| 400,000 (1) | Trinidad & Tobago Government International Bond, 6.400%, 06/26/2034 | 414,020 | 0.4 | |||||||
| Turkey: 2.8% | ||||||||||
| 300,000 | Turkey Government International Bond 10Y, 5.125%, 02/17/2028 | 298,200 | 0.3 | |||||||
| 800,000 | Turkey Government International Bond 10Y, 7.625%, 04/26/2029 | 856,200 | 0.8 | |||||||
| 595,000 | Turkey Government International Bond 12Y, 6.500%, 09/20/2033 | 590,567 | 0.5 | |||||||
| 550,000 | Turkey Government International Bond 30Y, 6.000%, 01/14/2041 | 486,750 | 0.4 | |||||||
| 600,000 | Turkey Government International Bond 5Y, 9.875%, 01/15/2028 | 680,250 | 0.6 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SOVEREIGN BONDS: (continued) | ||||||||||
| Turkey: (continued) | ||||||||||
| 200,000 (1) | Turkiye Ihracat Kredi Bankasi AS, 9.000%, 01/28/2027 | $ | 214,000 | 0.2 | ||||||
| 3,125,967 | 2.8 | |||||||||
| Ukraine: 1.3% | ||||||||||
| 110,474 (3) | Ukraine Government International Bond (Step Rate @ 3.000% on 02/01/2027), 02/01/2030 | 48,470 | 0.1 | |||||||
| 412,832 (3) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2034 | 141,292 | 0.1 | |||||||
| 348,869 (3) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2035 | 152,979 | 0.1 | |||||||
| 290,724 (3) | Ukraine Government International Bond (Step Rate @ 3.500% on 02/01/2027), 02/01/2036 | 126,319 | 0.1 | |||||||
| 299,400 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2029 | 176,541 | 0.2 | |||||||
| 618,033 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2034 | 275,643 | 0.3 | |||||||
| 569,548 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2035 | 247,611 | 0.2 | |||||||
| 535,466 (3) | Ukraine Government International Bond, 1.750% (Step Rate @ 4.500% on 08/01/2025), 02/01/2036 | 230,224 | 0.2 | |||||||
| 1,399,079 | 1.3 | |||||||||
| United Arab Emirates: 0.2% | ||||||||||
| 250,000 (1) | Finance Department Government of Sharjah, 6.500%, 11/23/2032 | 268,906 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
20
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| SOVEREIGN BONDS: (continued) | |||||||||||
| Uruguay: 0.2% | |||||||||||
| 123,334 | Uruguay Government International Bond, 4.375%, 10/27/2027 | $ | 124,413 | 0.1 | |||||||
| 51,825 | Uruguay Government International Bond, 4.375%, 01/23/2031 | 52,162 | 0.1 | ||||||||
| 176,575 | 0.2 | ||||||||||
| Venezuela: 0.3% | |||||||||||
| 175,000 | Venezuela Government International Bond, 7.000%, 03/31/2038 | 24,500 | 0.0 | ||||||||
| 550,000 (4) | Venezuela Government International Bond, 9.250%, 09/15/2027 | 89,375 | 0.1 | ||||||||
| 275,000 | Venezuela Government International Bond, 9.250%, 05/07/2028 | 41,250 | 0.0 | ||||||||
| 200,000 | Venezuela Government International Bond, 9.375%, 01/13/2034 | 34,500 | 0.0 | ||||||||
| 425,000 | Venezuela Government International Bond, 11.750%, 10/21/2026 | 71,400 | 0.1 | ||||||||
| 575,000 | Venezuela Government International Bond, 11.950%, 08/05/2031 | 94,013 | 0.1 | ||||||||
| 355,038 | 0.3 | ||||||||||
| Zambia: 0.6% | |||||||||||
| 439,337 (1) | Zambia Government International Bond, 0.500%, 12/31/2053 | 218,570 | 0.2 | ||||||||
| 467,975 (1)(2) | Zambia Government International Bond, 5.750% (Step Rate @ 7.500% on 06/30/2031), 06/30/2033 | 412,988 | 0.4 | ||||||||
| 631,558 | 0.6 | ||||||||||
| Total Sovereign Bonds (Cost $59,745,183) | 65,041,400 | 58.1 | |||||||||
| CORPORATE BONDS/NOTES: 40.2% | |||||||||||
| Brazil: 3.0% | |||||||||||
| 400,000 (1) | Ambipar Lux Sarl, 9.875%, 02/06/2031 | 415,000 | 0.4 | ||||||||
| 875,000 (1) | Centrais Eletricas Brasileiras SA, 6.500%, 01/11/2035 | 880,390 | 0.8 | ||||||||
| 800,000 (1) | LD Celulose International GmbH, 7.950%, 01/26/2032 | 821,200 | 0.7 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Brazil: (continued) | ||||||||||
| 400,000 (1) | Movida Europe SA, 7.850%, 04/11/2029 | $ | 387,296 | 0.3 | ||||||
| 900,000 (1) | Raizen Fuels Finance SA, 5.700%, 01/17/2035 | 895,050 | 0.8 | |||||||
| 3,398,936 | 3.0 | |||||||||
| Chile: 5.5% | ||||||||||
| 416,000 (1)(3) | Banco del Estado de Chile, 7.950%, 12/31/2199 | 448,240 | 0.4 | |||||||
| 500,000 (1) | Corp Nacional del Cobre de Chile, 4.500%, 08/01/2047 | 427,969 | 0.4 | |||||||
| 250,000 | Corp Nacional del Cobre de Chile, 5.125%, 02/02/2033 | 249,922 | 0.2 | |||||||
| 725,000 (1) | Corp Nacional del Cobre de Chile, 5.950%, 01/08/2034 | 764,195 | 0.7 | |||||||
| 425,000 (1) | Corp Nacional del Cobre de Chile, 6.300%, 09/08/2053 | 451,828 | 0.4 | |||||||
| 400,000 (1) | Empresa de Pasajeros Metro S.A., 3.693%, 09/13/2061 | 285,746 | 0.3 | |||||||
| 300,000 (1) | Empresa Nacional del Petroleo, 4.500%, 09/14/2047 | 247,500 | 0.2 | |||||||
| 900,000 (1) | Empresa Nacional del Petroleo, 5.950%, 07/30/2034 | 948,825 | 0.8 | |||||||
| 725,000 (1) | Engie Energia Chile SA, 6.375%, 04/17/2034 | 772,560 | 0.7 | |||||||
| 450,000 (1) | Sable International Finance Ltd., 7.125%, 10/15/2032 | 452,038 | 0.4 | |||||||
| 1,100,000 (1) | Sociedad Quimica y Minera de Chile SA, 5.500%, 09/10/2034 | 1,100,550 | 1.0 | |||||||
| 6,149,373 | 5.5 | |||||||||
| Colombia: 1.5% | ||||||||||
| 840,000 | Ecopetrol SA, 8.375%, 01/19/2036 | 859,740 | 0.8 | |||||||
| 750,000 | Ecopetrol SA, 8.625%, 01/19/2029 | 808,879 | 0.7 | |||||||
| 1,668,619 | 1.5 | |||||||||
| Dominican Republic: 1.1% | ||||||||||
| 1,175,000 (1) | Aeropuertos Dominicanos Siglo XXI SA, 7.000%, 06/30/2034 | 1,230,695 | 1.1 | |||||||
| Guatemala: 0.6% | ||||||||||
| 700,000 (1) | CT Trust, 5.125%, 02/03/2032 | 644,315 | 0.6 | |||||||
See Accompanying Notes to Financial Statements
21
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| India: 0.7% | ||||||||||
| 425,000 (1) | IRB Infrastructure Developers Ltd., 7.110%, 03/11/2032 | $ | 443,594 | 0.4 | ||||||
| 400,000 | JSW Steel Ltd., 5.050%, 04/05/2032 | 368,000 | 0.3 | |||||||
| 811,594 | 0.7 | |||||||||
| Indonesia: 3.0% | ||||||||||
| 500,000 (1) | Hutama Karya Persero PT, 3.750%, 05/11/2030 | 480,313 | 0.4 | |||||||
| 300,000 (1) | Pertamina Persero PT, 3.100%, 01/21/2030 | 279,187 | 0.3 | |||||||
| 550,000 | Pertamina Persero PT, 5.625%, 05/20/2043 | 561,756 | 0.5 | |||||||
| 550,000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 3.000%, 06/30/2030 | 503,078 | 0.4 | |||||||
| 475,000 (1) | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.125%, 05/15/2027 | 471,734 | 0.4 | |||||||
| 550,000 | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.125%, 05/15/2027 | 546,219 | 0.5 | |||||||
| 500,000 (1) | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 6.250%, 01/25/2049 | 531,225 | 0.5 | |||||||
| 3,373,512 | 3.0 | |||||||||
| Jamaica: 0.6% | ||||||||||
| 650,000 (1) | Kingston Airport Revenue Finance Ltd., 6.750%, 12/15/2036 | 672,100 | 0.6 | |||||||
| Kazakhstan: 0.6% | ||||||||||
| 750,000 (1) | KazMunayGas National Co. JSC, 3.500%, 04/14/2033 | 655,312 | 0.6 | |||||||
| Luxembourg: 2.0% | ||||||||||
| 820,250 (1) | Chile Electricity Lux MPC Sarl, 6.010%, 01/20/2033 | 856,571 | 0.8 | |||||||
| 550,000 (1) | Greensaif Pipelines Bidco Sarl, 6.510%, 02/23/2042 | 595,203 | 0.5 | |||||||
| 750,000 (1) | Minerva Luxembourg SA, 8.875%, 09/13/2033 | 820,125 | 0.7 | |||||||
| 2,271,899 | 2.0 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Malaysia: 1.1% | ||||||||||
| 300,000 | Petronas Capital Ltd., 2.480%, 01/28/2032 | $ | 261,576 | 0.2 | ||||||
| 1,050,000 (1) | Petronas Capital Ltd., 4.800%, 04/21/2060 | 1,002,325 | 0.9 | |||||||
| 1,263,901 | 1.1 | |||||||||
| Mexico: 7.0% | ||||||||||
| 550,000 (1) | Banco Nacional de Comercio Exterior SNC/Cayman Islands, 4.375%, 10/14/2025 | 547,766 | 0.5 | |||||||
| 400,000 (3) | Cemex SAB de CV, 5.125%, 12/31/2199 | 394,700 | 0.3 | |||||||
| 350,000 (1)(3) | Cemex SAB de CV, 9.125%, 12/31/2199 | 382,848 | 0.3 | |||||||
| 500,000 (1) | Comision Federal de Electricidad, 5.700%, 01/24/2030 | 502,350 | 0.4 | |||||||
| 500,000 (1)(5) | Comision Federal de Electricidad, 6.264%, 02/15/2052 | 458,880 | 0.4 | |||||||
| 700,000 (1) | Comision Federal de Electricidad, 6.450%, 01/24/2035 | 698,950 | 0.6 | |||||||
| 950,000 (1) | FIEMEX Energia -Banco Actinver SA Institucion de Banca Multiple, 7.250%, 01/31/2041 | 989,187 | 0.9 | |||||||
| 300,000 | Petroleos Mexicanos, 5.500%, 06/27/2044 | 197,718 | 0.2 | |||||||
| 1,825,000 | Petroleos Mexicanos, 6.500%, 03/13/2027 | 1,792,150 | 1.6 | |||||||
| 425,000 | Petroleos Mexicanos, 6.500%, 01/23/2029 | 402,178 | 0.4 | |||||||
| 960,000 | Petroleos Mexicanos, 6.700%, 02/16/2032 | 860,784 | 0.8 | |||||||
| 425,000 | Petroleos Mexicanos, 6.750%, 09/21/2047 | 304,937 | 0.3 | |||||||
| 500,000 | Petroleos Mexicanos, 6.950%, 01/28/2060 | 359,050 | 0.3 | |||||||
| 7,891,498 | 7.0 | |||||||||
| Morocco: 0.7% | ||||||||||
| 700,000 (1) | OCP SA, 6.750%, 05/02/2034 | 751,954 | 0.7 | |||||||
| Oman: 1.0% | ||||||||||
| 1,100,000 (1) | OQ SAOC, 5.125%, 05/06/2028 | 1,108,594 | 1.0 | |||||||
| Panama: 1.8% | ||||||||||
| 530,822 | AES Panama Generation Holdings SRL, 4.375%, 05/31/2030 | 481,041 | 0.4 | |||||||
| 875,000 | Banco Nacional de Panama, 2.500%, 08/11/2030 | 725,979 | 0.7 | |||||||
See Accompanying Notes to Financial Statements
22
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Panama: (continued) | ||||||||||
| 1,000,000 (1) | Empresa de Transmision Electrica SA, 5.125%, 05/02/2049 | $ | 784,020 | 0.7 | ||||||
| 1,991,040 | 1.8 | |||||||||
| Peru: 2.8% | ||||||||||
| 400,000 (1) | Corp Financiera de Desarrollo SA, 2.400%, 09/28/2027 | 374,700 | 0.3 | |||||||
| 850,000 (1) | Hunt Oil Co. of Peru LLC Sucursal Del Peru, 8.550%, 09/18/2033 | 957,525 | 0.9 | |||||||
| 1,050,000 (1) | Niagara Energy SAC, 5.746%, 10/03/2034 | 1,055,775 | 0.9 | |||||||
| 250,000 | Petroleos del Peru SA, 4.750%, 06/19/2032 | 197,812 | 0.2 | |||||||
| 800,000 (1) | Petroleos del Peru SA, 5.625%, 06/19/2047 | 549,752 | 0.5 | |||||||
| 3,135,564 | 2.8 | |||||||||
| Poland: 2.1% | ||||||||||
| 675,000 (1) | Bank Gospodarstwa Krajowego, 5.375%, 05/22/2033 | 692,952 | 0.6 | |||||||
| 925,000 (1) | Bank Gospodarstwa Krajowego, 5.750%, 07/09/2034 | 969,363 | 0.9 | |||||||
| 650,000 (1) | Bank Gospodarstwa Krajowego, 6.250%, 10/31/2028 | 697,645 | 0.6 | |||||||
| 2,359,960 | 2.1 | |||||||||
| Qatar: 0.7% | ||||||||||
| 1,000,000 (1) | QatarEnergy, 3.300%, 07/12/2051 | 751,875 | 0.7 | |||||||
| South Africa: 0.7% | ||||||||||
| 800,000 (1) | Eskom Holdings SOC Ltd., 6.350%, 08/10/2028 | 815,000 | 0.7 | |||||||
| Turkey: 1.9% | ||||||||||
| 650,000 (1) | Eregli Demir ve Celik Fabrikalari TAS, 8.375%, 07/23/2029 | 669,500 | 0.6 | |||||||
| 725,000 (1) | Sisecam UK PLC, 8.250%, 05/02/2029 | 749,817 | 0.7 | |||||||
| 625,000 (1) | WE Soda Investments Holding PLC, 9.375%, 02/14/2031 | 651,562 | 0.6 | |||||||
| 2,070,879 | 1.9 | |||||||||
| United Arab Emirates: 1.5% | ||||||||||
| 550,000 | DP World Crescent Ltd., 3.875%, 07/18/2029 | 534,875 | 0.5 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| CORPORATE BONDS/NOTES: (continued) | |||||||||||
| United Arab Emirates: (continued) | |||||||||||
| 725,000 (1) | MDGH GMTN RSC Ltd., 4.375%, 11/22/2033 | $ | 716,164 | 0.6 | |||||||
| 400,000 (1) | MDGH GMTN RSC Ltd., 5.500%, 04/28/2033 | 427,324 | 0.4 | ||||||||
| 1,678,363 | 1.5 | ||||||||||
| Venezuela: 0.3% | |||||||||||
| 1,000,000 (4) | Petroleos de Venezuela SA, 9.000%, 11/17/2021 | 106,500 | 0.1 | ||||||||
| 1,750,000 (4) | Petroleos de Venezuela SA, 9.750%, 05/17/2035 | 201,250 | 0.2 | ||||||||
| 307,750 | 0.3 | ||||||||||
| Total Corporate Bonds/Notes (Cost $42,957,160) | 45,002,733 | 40.2 | |||||||||
| Total Long-Term Investments (Cost $102,702,343) | 110,044,133 | 98.3 | |||||||||
| SHORT-TERM INVESTMENTS: 5.1% | |||||||||||
| Commercial Paper: 3.8% | |||||||||||
| 1,500,000 | Exelon Corp., 2.480%, 10/02/2024 | 1,499,797 | 1.3 | ||||||||
| 700,000 | Sherwin-Williams Co., 5.000%, 10/02/2024 | 699,809 | 0.7 | ||||||||
| 2,000,000 | SYSCO Corp., 4.940%, 10/01/2024 | 1,999,730 | 1.8 | ||||||||
| Total Commercial Paper (Cost $4,199,702) | 4,199,336 | 3.8 | |||||||||
| Repurchase Agreements: 0.8% | |||||||||||
| 944,306 (6) | RBC Dominion Securities, Inc., Repurchase Agreement dated 09/30/2024, 4.860%, due 10/01/2024 (Repurchase Amount $944,432, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $963,192, due 10/31/24-09/20/54) | 944,306 | 0.8 | ||||||||
| Total Repurchase Agreements (Cost $944,306) | 944,306 | 0.8 | |||||||||
See Accompanying Notes to Financial Statements
23
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Shares | Value | Percentage of Net Assets | |||||||||
| Mutual Funds: 0.5% | |||||||||||
| 614,000 (7) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $614,000) | $ | 614,000 | 0.5 | |||||||
| Total Short-Term Investments (Cost $5,758,008) | $ | 5,757,642 | 5.1 | ||||||||
| Total Investments in Securities (Cost $108,460,351) | $ | 115,801,775 | 103.4 | ||||||||
| Liabilities in Excess of Other Assets | (3,834,934 | ) | (3.4 | ) | |||||||
| Net Assets | $ | 111,966,841 | 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) | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rates shown reflect the current and next coupon rate as of September 30, 2024. |
| (3) | Variable rate security. Rate shown is the rate in effect as of September 30, 2024. |
| (4) | Defaulted security. |
| (5) | Security, or a portion of the security, is on loan. |
| (6) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (7) | Rate shown is the 7-day yield as of September 30, 2024. |
See Accompanying Notes to Financial Statements
24
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Sovereign Bonds | $ | — | $ | 65,041,400 | $ | — | $ | 65,041,400 | ||||||||
| Corporate Bonds/Notes | — | 45,002,733 | — | 45,002,733 | ||||||||||||
| Short-Term Investments | 614,000 | 5,143,642 | — | 5,757,642 | ||||||||||||
| Total Investments, at fair value | $ | 614,000 | $ | 115,187,775 | $ | — | $ | 115,801,775 | ||||||||
| Other Financial Instruments+ | ||||||||||||||||
| Futures | 29,669 | — | — | 29,669 | ||||||||||||
| Total Assets | $ | 643,669 | $ | 115,187,775 | $ | — | $ | 115,831,444 | ||||||||
| Liabilities Table | ||||||||||||||||
| Other Financial Instruments+ | ||||||||||||||||
| Futures | $ | (47,260 | ) | $ | — | $ | — | $ | (47,260 | ) | ||||||
| Total Liabilities | $ | (47,260 | ) | $ | — | $ | — | $ | (47,260 | ) | ||||||
| ^ | 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. |
At September 30, 2024, the following futures contracts were outstanding for Voya VACS Series EMHCD Fund:
| Description | Number of Contracts | Expiration Date | Notional Amount | Unrealized Appreciation/ (Depreciation) | ||||||||||
| Long Contracts: | ||||||||||||||
| U.S. Treasury 2-Year Note | 10 | 12/31/24 | $ | 2,082,422 | $ | (3,457 | ) | |||||||
| U.S. Treasury 5-Year Note | 109 | 12/31/24 | 11,977,227 | (6,850 | ) | |||||||||
| U.S. Treasury Long Bond | 15 | 12/19/24 | 1,862,812 | (10,188 | ) | |||||||||
| U.S. Treasury Ultra Long Bond | 26 | 12/19/24 | 3,460,438 | (26,765 | ) | |||||||||
| $ | 19,382,899 | $ | (47,260 | ) | ||||||||||
| Short Contracts: | ||||||||||||||
| U.S. Treasury 10-Year Note | (54 | ) | 12/19/24 | (6,171,188 | ) | 237 | ||||||||
| U.S. Treasury Ultra 10-Year Note | (101 | ) | 12/19/24 | (11,947,984 | ) | 29,432 | ||||||||
| $ | (18,119,172 | ) | $ | 29,669 | ||||||||||
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of September 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||
| Asset Derivatives | ||||||
| Interest rate contracts | Variation margin receivable on futures contracts* | $ | 29,669 | |||
| Total Asset Derivatives | $ | 29,669 | ||||
See Accompanying Notes to Financial Statements
25
| Voya VACS Series EMHCD Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | |||
| Liability Derivatives | |||||
| Interest rate contracts | Variation margin payable on futures contracts* | $ | 47,260 | ||
| Total Liability Derivatives | $ | 47,260 | |||
| * | 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 Fund’s Statement of Operations for the period ended September 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | |||
| Interest rate contracts | $ | (4,197 | ) | |
| Total | $ | (4,197 | ) | |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | |||
| Interest rate contracts | $ | (18,722 | ) | |
| Total | $ | (18,722 | ) | |
At September 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 $108,475,368. | ||||
| Net unrealized appreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 7,788,277 | ||
| Gross Unrealized Depreciation | (479,007 | ) | ||
| Net Unrealized Appreciation | $ | 7,309,270 | ||
See Accompanying Notes to Financial Statements
26
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: 85.3% | ||||||||||
| Basic Materials: 5.4% | ||||||||||
| 570,000 (1) | Avient Corp., 6.250%, 11/01/2031 | $ | 584,779 | 0.4 | ||||||
| 300,000 (1) | Axalta Coating Systems Dutch Holding B BV, 7.250%, 02/15/2031 | 320,743 | 0.2 | |||||||
| 150,000 (1) | Axalta Coating Systems LLC, 3.375%, 02/15/2029 | 140,582 | 0.1 | |||||||
| 410,000 (1) | Cleveland-Cliffs, Inc., 4.625%, 03/01/2029 | 387,461 | 0.3 | |||||||
| 205,000 (1) | Cleveland-Cliffs, Inc., 4.875%, 03/01/2031 | 190,700 | 0.1 | |||||||
| 380,000 (1) | Coeur Mining, Inc., 5.125%, 02/15/2029 | 369,386 | 0.2 | |||||||
| 450,000 (1) | Consolidated Energy Finance SA, 5.625%, 10/15/2028 | 380,862 | 0.2 | |||||||
| 618,000 (1) | Constellium SE, 5.625%, 06/15/2028 | 617,269 | 0.4 | |||||||
| 615,000 (1) | Hudbay Minerals, Inc., 4.500%, 04/01/2026 | 608,846 | 0.4 | |||||||
| 390,000 (1) | Illuminate Buyer LLC / Illuminate Holdings IV, Inc., 9.000%, 07/01/2028 | 394,667 | 0.3 | |||||||
| 436,000 (1) | INEOS Quattro Finance 2 PLC, 3.375%, 01/15/2026 | 430,851 | 0.3 | |||||||
| 454,000 (1)(2) | Iris Holdings, Inc., 8.750% (PIK Rate 8.750%, Cash Rate 9.500%), 02/15/2026 | 425,496 | 0.3 | |||||||
| 375,000 (1) | LSF11 A5 HoldCo LLC, 6.625%, 10/15/2029 | 365,138 | 0.2 | |||||||
| 520,000 (1) | Mativ Holdings, Inc., 6.875%, 10/01/2026 | 520,091 | 0.3 | |||||||
| 300,000 (1) | Mativ Holdings, Inc., 8.000%, 10/01/2029 | 306,577 | 0.2 | |||||||
| 300,000 (1) | NOVA Chemicals Corp., 8.500%, 11/15/2028 | 320,606 | 0.2 | |||||||
| 135,000 (1) | Novelis Corp., 3.250%, 11/15/2026 | 130,392 | 0.1 | |||||||
| 350,000 (1) | Novelis Corp., 3.875%, 08/15/2031 | 320,307 | 0.2 | |||||||
| 135,000 (1) | Novelis Corp., 4.750%, 01/30/2030 | 131,000 | 0.1 | |||||||
| 375,000 (1) | Nufarm Australia Ltd. / Nufarm Americas, Inc., 5.000%, 01/27/2030 | 348,292 | 0.2 | |||||||
| 200,000 (1) | Olympus Water US Holding Corp., 4.250%, 10/01/2028 | 191,161 | 0.1 | |||||||
| 200,000 (1) | Olympus Water US Holding Corp., 7.125%, 10/01/2027 | 204,310 | 0.1 | |||||||
| 480,000 (1) | SPCM SA, 3.125%, 03/15/2027 | 458,646 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Basic Materials: (continued) | ||||||||||
| 490,000 (1) | Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.125%, 04/01/2029 | $ | 238,545 | 0.2 | ||||||
| 8,386,707 | 5.4 | |||||||||
| Communications: 10.4% | ||||||||||
| 800,000 (1) | Altice France SA, 5.125%, 07/15/2029 | 563,318 | 0.4 | |||||||
| 300,000 (1) | Beasley Mezzanine Holdings LLC, 8.625%, 02/01/2026 | 173,250 | 0.1 | |||||||
| 1,015,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 08/15/2030 | 920,816 | 0.6 | |||||||
| 755,000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.500%, 05/01/2032 | 653,398 | 0.4 | |||||||
| 565,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | 550,029 | 0.4 | |||||||
| 590,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | 581,124 | 0.4 | |||||||
| 230,000 (1) | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | 229,723 | 0.2 | |||||||
| 440,000 (1) | Connect Finco Sarl / Connect US Finco LLC, 6.750%, 10/01/2026 | 440,000 | 0.3 | |||||||
| 750,000 (1) | Connect Finco Sarl / Connect US Finco LLC, 9.000%, 09/15/2029 | 726,739 | 0.5 | |||||||
| 1,100,000 (1) | CSC Holdings LLC, 11.250%, 05/15/2028 | 1,062,751 | 0.7 | |||||||
| 785,000 (1) | Directv Financing LLC / Directv Financing Co- Obligor, Inc., 5.875%, 08/15/2027 | 771,292 | 0.5 | |||||||
| 720,000 (1) | DISH Network Corp., 11.750%, 11/15/2027 | 756,249 | 0.5 | |||||||
| 385,000 (1) | GCI LLC, 4.750%, 10/15/2028 | 370,043 | 0.2 | |||||||
| 610,000 (1) | Gray Escrow II, Inc., 5.375%, 11/15/2031 | 381,958 | 0.2 | |||||||
| 585,000 (1) | Level 3 Financing, Inc., 4.000%, 04/15/2031 | 428,513 | 0.3 | |||||||
| 665,000 (1) | Level 3 Financing, Inc., 10.500%, 05/15/2030 | 719,031 | 0.5 | |||||||
| 685,000 (1) | Match Group Holdings II LLC, 4.625%, 06/01/2028 | 666,580 | 0.4 | |||||||
| 580,000 (1) | McGraw-Hill Education, Inc., 8.000%, 08/01/2029 | 582,562 | 0.4 | |||||||
See Accompanying Notes to Financial Statements
27
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Communications: (continued) | ||||||||||
| 375,000 (1) | Outfront Media Capital LLC / Outfront Media Capital Corp., 4.625%, 03/15/2030 | $ | 356,651 | 0.2 | ||||||
| 210,000 (1) | Sirius XM Radio, Inc., 3.125%, 09/01/2026 | 203,056 | 0.1 | |||||||
| 1,075,000 (1) | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | 1,058,338 | 0.7 | |||||||
| 475,000 (1) | Stagwell Global LLC, 5.625%, 08/15/2029 | 459,605 | 0.3 | |||||||
| 675,000 (1) | Univision Communications, Inc., 6.625%, 06/01/2027 | 677,652 | 0.4 | |||||||
| 295,000 (1) | Viasat, Inc., 6.500%, 07/15/2028 | 231,756 | 0.2 | |||||||
| 220,000 (1)(3) | Viasat, Inc., 7.500%, 05/30/2031 | 151,738 | 0.1 | |||||||
| 360,000 (1) | Viavi Solutions, Inc., 3.750%, 10/01/2029 | 327,032 | 0.2 | |||||||
| 875,000 (1) | Virgin Media Vendor Financing Notes IV DAC, 5.000%, 07/15/2028 | 844,010 | 0.5 | |||||||
| 652,000 (1) | Vmed O2 UK Financing I PLC, 4.750%, 07/15/2031 | 581,018 | 0.4 | |||||||
| 485,000 (1) | Windstream Escrow LLC / Windstream Escrow Finance Corp., 8.250%, 10/01/2031 | 493,699 | 0.3 | |||||||
| 15,961,931 | 10.4 | |||||||||
| Consumer, Cyclical: 15.7% | ||||||||||
| 515,000 (1) | Adient Global Holdings Ltd., 4.875%, 08/15/2026 | 510,574 | 0.3 | |||||||
| 235,000 (1)(3) | Adient Global Holdings Ltd., 8.250%, 04/15/2031 | 249,599 | 0.2 | |||||||
| 541,000 (1) | Allison Transmission, Inc., 5.875%, 06/01/2029 | 544,793 | 0.3 | |||||||
| 440,000 (1) | American Airlines, Inc., 7.250%, 02/15/2028 | 450,787 | 0.3 | |||||||
| 134,167 (1) | American Airlines, Inc./ AAdvantage Loyalty IP Ltd., 5.500%, 04/20/2026 | 133,894 | 0.1 | |||||||
| 315,000 (3) | Asbury Automotive Group, Inc., 4.500%, 03/01/2028 | 306,897 | 0.2 | |||||||
| 266,000 | Asbury Automotive Group, Inc., 4.750%, 03/01/2030 | 254,812 | 0.2 | |||||||
| 113,000 (1) | Bath & Body Works, Inc., 9.375%, 07/01/2025 | 116,294 | 0.1 | |||||||
| 310,000 (1) | Brinker International, Inc., 5.000%, 10/01/2024 | 310,000 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 485,000 (1) | Caesars Entertainment, Inc., 4.625%, 10/15/2029 | $ | 461,654 | 0.3 | ||||||
| 505,000 (1) | Caesars Entertainment, Inc., 7.000%, 02/15/2030 | 527,917 | 0.3 | |||||||
| 350,000 (1) | Carnival Corp., 4.000%, 08/01/2028 | 337,813 | 0.2 | |||||||
| 760,000 (1) | Carnival Corp., 6.000%, 05/01/2029 | 770,506 | 0.5 | |||||||
| 810,900 (1)(2) | Carvana Co., 12.000% (PIK Rate 12.000%, Cash Rate 9.000%), 12/01/2028 | 852,335 | 0.5 | |||||||
| 515,000 (1) | CCM Merger, Inc., 6.375%, 05/01/2026 | 515,946 | 0.3 | |||||||
| 460,000 (1) | Cinemark USA, Inc., 7.000%, 08/01/2032 | 480,591 | 0.3 | |||||||
| 405,000 (1) | Dream Finders Homes, Inc., 8.250%, 08/15/2028 | 428,354 | 0.3 | |||||||
| 385,000 (1) | Foundation Building Materials, Inc., 6.000%, 03/01/2029 | 339,401 | 0.2 | |||||||
| 103,000 (1) | Gap, Inc., 3.625%, 10/01/2029 | 93,271 | 0.1 | |||||||
| 347,000 (1) | Gap, Inc., 3.875%, 10/01/2031 | 303,699 | 0.2 | |||||||
| 395,000 (1) | Gates Corp., 6.875%, 07/01/2029 | 409,656 | 0.3 | |||||||
| 455,000 (1) | Group 1 Automotive, Inc., 6.375%, 01/15/2030 | 463,366 | 0.3 | |||||||
| 544,000 (1) | Hilton Domestic Operating Co., Inc., 5.875%, 03/15/2033 | 554,650 | 0.4 | |||||||
| 436,000 (1) | Installed Building Products, Inc., 5.750%, 02/01/2028 | 434,877 | 0.3 | |||||||
| 435,000 (1) | Interface, Inc., 5.500%, 12/01/2028 | 426,723 | 0.3 | |||||||
| 657,000 (1) | International Game Technology PLC, 5.250%, 01/15/2029 | 654,949 | 0.4 | |||||||
| 415,000 (1) | Lithia Motors, Inc., 4.375%, 01/15/2031 | 386,481 | 0.2 | |||||||
| 90,000 | M/I Homes, Inc., 3.950%, 02/15/2030 | 84,586 | 0.0 | |||||||
| 260,000 | M/I Homes, Inc., 4.950%, 02/01/2028 | 255,817 | 0.2 | |||||||
| 180,000 | Macy’s Retail Holdings LLC, 4.500%, 12/15/2034 | 151,032 | 0.1 | |||||||
| 260,000 (1) | Macy’s Retail Holdings LLC, 6.125%, 03/15/2032 | 252,292 | 0.2 | |||||||
| 208,000 (1) | Melco Resorts Finance Ltd., 5.250%, 04/26/2026 | 204,490 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
28
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 472,000 (1) | Melco Resorts Finance Ltd., 5.375%, 12/04/2029 | $ | 443,975 | 0.3 | ||||||
| 270,000 | MGM Resorts International, 4.625%, 09/01/2026 | 268,494 | 0.2 | |||||||
| 235,000 | MGM Resorts International, 4.750%, 10/15/2028 | 230,462 | 0.1 | |||||||
| 115,000 | MGM Resorts International, 6.500%, 04/15/2032 | 117,266 | 0.1 | |||||||
| 705,000 (1) | Michaels Cos., Inc., 5.250%, 05/01/2028 | 521,061 | 0.3 | |||||||
| 290,000 | Murphy Oil USA, Inc., 4.750%, 09/15/2029 | 282,138 | 0.2 | |||||||
| 145,000 | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | 145,010 | 0.1 | |||||||
| 130,000 (1) | NCL Corp. Ltd., 5.875%, 03/15/2026 | 130,089 | 0.1 | |||||||
| 85,000 (1) | NCL Corp. Ltd., 8.375%, 02/01/2028 | 89,323 | 0.1 | |||||||
| 270,000 (1) | NCL Finance Ltd., 6.125%, 03/15/2028 | 275,592 | 0.2 | |||||||
| 400,000 (1) | Raising Cane’s Restaurants LLC, 9.375%, 05/01/2029 | 433,632 | 0.3 | |||||||
| 310,000 (1) | Ritchie Bros Holdings, Inc., 7.750%, 03/15/2031 | 330,541 | 0.2 | |||||||
| 1,045,000 (1) | Royal Caribbean Cruises Ltd., 5.375%, 07/15/2027 | 1,055,062 | 0.7 | |||||||
| 245,000 (1) | Royal Caribbean Cruises Ltd., 5.625%, 09/30/2031 | 248,369 | 0.2 | |||||||
| 460,000 (3) | Sally Holdings LLC / Sally Capital, Inc., 6.750%, 03/01/2032 | 472,870 | 0.3 | |||||||
| 440,000 (1) | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc., 6.625%, 03/01/2030 | 436,960 | 0.3 | |||||||
| 460,000 (1) | Scientific Games International, Inc., 7.000%, 05/15/2028 | 464,343 | 0.3 | |||||||
| 206,480 (1) | Staples, Inc., 12.750%, 01/15/2030 | 169,839 | 0.1 | |||||||
| 530,000 (1) | Station Casinos LLC, 4.500%, 02/15/2028 | 512,168 | 0.3 | |||||||
| 351,000 (1) | Tempur Sealy International, Inc., 3.875%, 10/15/2031 | 313,247 | 0.2 | |||||||
| 69,000 (1) | Tempur Sealy International, Inc., 4.000%, 04/15/2029 | 64,417 | 0.0 | |||||||
| 480,000 | United Airlines Holdings, Inc., 4.875%, 01/15/2025 | 479,514 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Cyclical: (continued) | ||||||||||
| 260,000 (1) | United Airlines, Inc., 4.375%, 04/15/2026 | $ | 256,032 | 0.2 | ||||||
| 490,000 (1) | Victoria’s Secret & Co., 4.625%, 07/15/2029 | 433,257 | 0.3 | |||||||
| 875,000 (1) | Viking Cruises Ltd., 5.875%, 09/15/2027 | 875,001 | 0.6 | |||||||
| 125,000 (1) | Viking Cruises Ltd., 7.000%, 02/15/2029 | 126,673 | 0.1 | |||||||
| 430,000 (1) | VistaJet Malta Finance PLC / Vista Management Holding, Inc., 6.375%, 02/01/2030 | 369,809 | 0.2 | |||||||
| 275,000 (3) | Walgreens Boots Alliance, Inc., 4.800%, 11/18/2044 | 206,012 | 0.1 | |||||||
| 575,000 (3) | Walgreens Boots Alliance, Inc., 8.125%, 08/15/2029 | 574,481 | 0.4 | |||||||
| 500,000 (1) | William Carter Co., 5.625%, 03/15/2027 | 499,427 | 0.3 | |||||||
| 550,000 (1) | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.250%, 05/15/2027 | 550,795 | 0.4 | |||||||
| 200,000 (1) | ZF North America Capital, Inc., 4.750%, 04/29/2025 | 198,406 | 0.1 | |||||||
| 330,000 (1) | ZF North America Capital, Inc., 6.875%, 04/14/2028 | 333,389 | 0.2 | |||||||
| 24,175,710 | 15.7 | |||||||||
| Consumer, Non-cyclical: 18.7% | ||||||||||
| 395,000 (1)(3) | 1375209 BC Ltd., 9.000%, 01/30/2028 | 391,852 | 0.3 | |||||||
| 490,000 (1) | Acadia Healthcare Co., Inc., 5.500%, 07/01/2028 | 478,764 | 0.3 | |||||||
| 400,000 (1) | AdaptHealth LLC, 4.625%, 08/01/2029 | 370,808 | 0.2 | |||||||
| 495,000 (1) | ADT Security Corp., 4.125%, 08/01/2029 | 473,248 | 0.3 | |||||||
| 300,000 (1) | AHP Health Partners, Inc., 5.750%, 07/15/2029 | 295,392 | 0.2 | |||||||
| 447,000 (1) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 3.500%, 03/15/2029 | 418,055 | 0.3 | |||||||
| 390,000 (1) | Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons L.P. / Albertsons LLC, 5.875%, 02/15/2028 | 392,900 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
29
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 300,000 (1) | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | $ | 282,319 | 0.2 | ||||||
| 650,000 (1) | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.625%, 06/01/2028 | 610,513 | 0.4 | |||||||
| 390,000 (1) | Alta Equipment Group, Inc., 9.000%, 06/01/2029 | 349,609 | 0.2 | |||||||
| 195,000 (1) | APi Group DE, Inc., 4.125%, 07/15/2029 | 183,528 | 0.1 | |||||||
| 210,000 (1) | APi Group DE, Inc., 4.750%, 10/15/2029 | 202,512 | 0.1 | |||||||
| 670,000 (1)(3) | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.000%, 02/15/2031 | 685,835 | 0.4 | |||||||
| 440,000 (1) | Bausch Health Cos., Inc., 4.875%, 06/01/2028 | 344,738 | 0.2 | |||||||
| 325,000 (1) | Bausch Health Cos., Inc., 6.125%, 02/01/2027 | 293,828 | 0.2 | |||||||
| 446,763 | Bausch Lomb, 8.563%, 05/10/2027 | 445,584 | 0.3 | |||||||
| 440,000 (1) | BellRing Brands, Inc., 7.000%, 03/15/2030 | 460,928 | 0.3 | |||||||
| 329,000 (1) | Brink’s Co., 6.500%, 06/15/2029 | 341,123 | 0.2 | |||||||
| 195,000 (1) | Brink’s Co., 6.750%, 06/15/2032 | 203,640 | 0.1 | |||||||
| 725,000 (1) | Cheplapharm Arzneimittel GmbH, 5.500%, 01/15/2028 | 703,827 | 0.5 | |||||||
| 400,000 (1) | Chobani LLC / Chobani Finance Corp., Inc., 7.625%, 07/01/2029 | 420,548 | 0.3 | |||||||
| 875,000 (1) | CHS/Community Health Systems, Inc., 5.250%, 05/15/2030 | 805,985 | 0.5 | |||||||
| 695,000 (1) | CHS/Community Health Systems, Inc., 5.625%, 03/15/2027 | 684,445 | 0.4 | |||||||
| 550,000 (1) | Cimpress PLC, 7.375%, 09/15/2032 | 555,143 | 0.4 | |||||||
| 410,000 (1) | CPI CG, Inc., 10.000%, 07/15/2029 | 431,906 | 0.3 | |||||||
| 160,000 (1) | DaVita, Inc., 3.750%, 02/15/2031 | 144,454 | 0.1 | |||||||
| 620,000 (1) | DaVita, Inc., 4.625%, 06/01/2030 | 591,502 | 0.4 | |||||||
| 460,000 (1) | Embecta Corp., 5.000%, 02/15/2030 | 423,928 | 0.3 | |||||||
| 550,000 | Encompass Health Corp., 4.750%, 02/01/2030 | 538,008 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 425,000 (1) | Fiesta Purchaser, Inc., 7.875%, 03/01/2031 | $ | 451,299 | 0.3 | ||||||
| 155,000 (1) | Garda World Security Corp., 4.625%, 02/15/2027 | 152,324 | 0.1 | |||||||
| 445,000 (1) | Garda World Security Corp., 6.000%, 06/01/2029 | 427,475 | 0.3 | |||||||
| 457,000 (1) | Graham Holdings Co., 5.750%, 06/01/2026 | 457,262 | 0.3 | |||||||
| 466,000 (1) | Jazz Securities DAC, 4.375%, 01/15/2029 | 451,051 | 0.3 | |||||||
| 470,000 (1) | LifePoint Health, Inc., 10.000%, 06/01/2032 | 517,290 | 0.3 | |||||||
| 575,000 (1) | Medline Borrower L.P., 3.875%, 04/01/2029 | 544,878 | 0.3 | |||||||
| 345,000 (1) | Medline Borrower L.P., 5.250%, 10/01/2029 | 338,763 | 0.2 | |||||||
| 145,000 (1) | Medline Borrower L.P./ Medline Co-Issuer, Inc., 6.250%, 04/01/2029 | 149,579 | 0.1 | |||||||
| 430,000 (1) | NESCO Holdings II, Inc., 5.500%, 04/15/2029 | 396,812 | 0.3 | |||||||
| 264,000 | New Albertsons L.P., 7.450%, 08/01/2029 | 277,035 | 0.2 | |||||||
| 825,000 (1) | Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.125%, 04/30/2031 | 777,795 | 0.5 | |||||||
| 200,000 (1) | Organon & Co / Organon Foreign Debt Co-Issuer BV, 7.875%, 05/15/2034 | 212,140 | 0.1 | |||||||
| 545,000 (1) | Performance Food Group, Inc., 6.125%, 09/15/2032 | 557,592 | 0.4 | |||||||
| 400,000 | Perrigo Finance Unlimited Co., 4.375%, 03/15/2026 | 399,802 | 0.3 | |||||||
| 550,000 | Perrigo Finance Unlimited Co. USD, 6.125%, 09/30/2032 | 554,617 | 0.4 | |||||||
| 570,000 (1) | Post Holdings, Inc., 4.625%, 04/15/2030 | 545,903 | 0.4 | |||||||
| 226,000 (1) | Post Holdings, Inc., 5.625%, 01/15/2028 | 228,130 | 0.1 | |||||||
| 300,000 (1) | Post Holdings, Inc., 6.250%, 10/15/2034 | 302,641 | 0.2 | |||||||
| 110,000 (1) | Post Holdings, Inc., 6.375%, 03/01/2033 | 112,070 | 0.1 | |||||||
| 690,000 (1) | Prime Security Services Borrower LLC / Prime Finance, Inc., 6.250%, 01/15/2028 | 690,707 | 0.4 | |||||||
| 430,000 (1) | Primo Water Holdings, Inc., 4.375%, 04/30/2029 | 412,721 | 0.3 | |||||||
| 440,000 (1) | Select Medical Corp., 6.250%, 08/15/2026 | 443,033 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
30
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Consumer, Non-cyclical: (continued) | ||||||||||
| 340,000 | Service Corp. International, 5.750%, 10/15/2032 | $ | 342,651 | 0.2 | ||||||
| 390,000 (1) | Simmons Foods, Inc./ Simmons Prepared Foods,, Inc. ./ Simmons Pet Food,, Inc../Simmons Feed, 4.625%, 03/01/2029 | 370,396 | 0.2 | |||||||
| 340,000 (1) | Sotera Health Holdings LLC, 7.375%, 06/01/2031 | 353,518 | 0.2 | |||||||
| 385,000 (1) | Star Parent, Inc., 9.000%, 10/01/2030 | 413,809 | 0.3 | |||||||
| 424,000 (1) | Teleflex, Inc., 4.250%, 06/01/2028 | 411,029 | 0.3 | |||||||
| 460,000 | Tenet Healthcare Corp., 5.125%, 11/01/2027 | 458,632 | 0.3 | |||||||
| 605,000 | Tenet Healthcare Corp., 6.125%, 10/01/2028 | 610,312 | 0.4 | |||||||
| 595,000 | Tenet Healthcare Corp., 6.125%, 06/15/2030 | 605,467 | 0.4 | |||||||
| 431,000 (1) | Triton Water Holdings, Inc., 6.250%, 04/01/2029 | 430,955 | 0.3 | |||||||
| 350,000 (1) | United Natural Foods, Inc., 6.750%, 10/15/2028 | 334,156 | 0.2 | |||||||
| 385,000 | United Rentals North America, Inc., 4.875%, 01/15/2028 | 382,448 | 0.2 | |||||||
| 90,000 | United Rentals North America, Inc., 5.500%, 05/15/2027 | 90,223 | 0.1 | |||||||
| 470,000 (1) | US Foods, Inc., 5.750%, 04/15/2033 | 471,680 | 0.3 | |||||||
| 500,000 (1) | Varex Imaging Corp., 7.875%, 10/15/2027 | 510,894 | 0.3 | |||||||
| 465,000 (1) | Wand NewCo 3, Inc., 7.625%, 01/30/2032 | 490,197 | 0.3 | |||||||
| 210,000 (1) | Williams Scotsman International, Inc., 4.625%, 08/15/2028 | 204,302 | 0.1 | |||||||
| 395,000 (1) | Williams Scotsman International, Inc., 6.125%, 06/15/2025 | 394,947 | 0.3 | |||||||
| 28,801,457 | 18.7 | |||||||||
| Energy: 10.0% | ||||||||||
| 290,000 (1) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.375%, 06/15/2029 | 287,199 | 0.2 | |||||||
| 410,000 (1) | Antero Midstream Partners L.P. / Antero Midstream Finance Corp., 5.750%, 03/01/2027 | 410,688 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 365,000 (1) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.250%, 04/01/2028 | $ | 367,102 | 0.2 | ||||||
| 210,000 (1) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.625%, 09/01/2032 | 215,501 | 0.1 | |||||||
| 69,000 (1) | Archrock Partners L.P. / Archrock Partners Finance Corp., 6.875%, 04/01/2027 | 69,272 | 0.0 | |||||||
| 490,000 (1) | Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 06/30/2029 | 484,477 | 0.3 | |||||||
| 125,000 (1) | Baytex Energy Corp., 7.375%, 03/15/2032 | 124,664 | 0.1 | |||||||
| 465,000 (1) | Baytex Energy Corp., 8.500%, 04/30/2030 | 482,340 | 0.3 | |||||||
| 556,000 (1) | Chord Energy Corp., 6.375%, 06/01/2026 | 557,677 | 0.4 | |||||||
| 465,000 (1) | Crescent Energy Finance LLC, 7.625%, 04/01/2032 | 465,533 | 0.3 | |||||||
| 295,000 (1) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 7.125%, 06/01/2028 | 295,571 | 0.2 | |||||||
| 340,000 (1) | Delek Logistics Partners L.P. / Delek Logistics Finance Corp., 8.625%, 03/15/2029 | 357,998 | 0.2 | |||||||
| 286,000 (1) | DT Midstream, Inc., 4.125%, 06/15/2029 | 273,783 | 0.2 | |||||||
| 265,000 (1) | DT Midstream, Inc., 4.375%, 06/15/2031 | 251,046 | 0.2 | |||||||
| 565,000 (1) | Earthstone Energy Holdings LLC, 8.000%, 04/15/2027 | 582,195 | 0.4 | |||||||
| 505,000 (1) | Encino Acquisition Partners Holdings LLC, 8.500%, 05/01/2028 | 514,421 | 0.3 | |||||||
| 115,000 (1) | Encino Acquisition Partners Holdings LLC, 8.750%, 05/01/2031 | 121,042 | 0.1 | |||||||
| 475,000 (1) | Enerflex Ltd., 9.000%, 10/15/2027 | 491,676 | 0.3 | |||||||
| 230,000 (1) | EQM Midstream Partners L.P., 6.000%, 07/01/2025 | 230,513 | 0.1 | |||||||
| 380,000 (1) | Global Partners L.P. / GLP Finance Corp., 8.250%, 01/15/2032 | 394,474 | 0.3 | |||||||
| 240,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 5.750%, 02/01/2029 | 233,678 | 0.2 | |||||||
| 270,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 04/15/2030 | 263,415 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
31
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 265,000 (1) | Hilcorp Energy I L.P. / Hilcorp Finance Co., 6.000%, 02/01/2031 | $ | 258,233 | 0.2 | ||||||
| 450,000 (1) | Kinetik Holdings L.P., 5.875%, 06/15/2030 | 453,429 | 0.3 | |||||||
| 450,000 (1) | Kodiak Gas Services LLC, 7.250%, 02/15/2029 | 466,057 | 0.3 | |||||||
| 105,000 (1) | Matador Resources Co., 6.500%, 04/15/2032 | 104,922 | 0.1 | |||||||
| 525,000 (1) | Matador Resources Co., 6.875%, 04/15/2028 | 534,406 | 0.3 | |||||||
| 445,000 (1) | Moss Creek Resources Holdings, Inc., 8.250%, 09/01/2031 | 439,704 | 0.3 | |||||||
| 465,000 | Murphy Oil Corp., 6.375%, 07/15/2028 | 472,788 | 0.3 | |||||||
| 145,000 (1) | Northriver Midstream Finance L.P., 6.750%, 07/15/2032 | 149,775 | 0.1 | |||||||
| 310,000 (1) | Permian Resources Operating LLC, 5.875%, 07/01/2029 | 309,976 | 0.2 | |||||||
| 205,000 (1) | Permian Resources Operating LLC, 6.250%, 02/01/2033 | 208,458 | 0.1 | |||||||
| 230,000 (1) | SM Energy Co., 6.750%, 08/01/2029 | 231,133 | 0.1 | |||||||
| 580,000 | Southwestern Energy Co., 5.375%, 02/01/2029 | 578,526 | 0.4 | |||||||
| 100,000 | Southwestern Energy Co., 5.700%, 01/23/2025 | 99,994 | 0.1 | |||||||
| 130,000 (1) | Sunoco L.P., 7.000%, 05/01/2029 | 135,930 | 0.1 | |||||||
| 180,000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 05/15/2029 | 173,194 | 0.1 | |||||||
| 400,000 | Sunoco L.P. / Sunoco Finance Corp., 4.500%, 04/30/2030 | 383,541 | 0.2 | |||||||
| 215,000 (1) | Talos Production, Inc., 9.000%, 02/01/2029 | 221,579 | 0.1 | |||||||
| 280,000 (1) | Talos Production, Inc., 9.375%, 02/01/2031 | 288,114 | 0.2 | |||||||
| 255,000 (1) | Transocean Poseidon Ltd., 6.875%, 02/01/2027 | 255,279 | 0.2 | |||||||
| 65,000 (1) | Transocean Titan Financing Ltd., 8.375%, 02/01/2028 | 67,008 | 0.0 | |||||||
| 445,000 (1) | Venture Global Calcasieu Pass LLC, 4.125%, 08/15/2031 | 414,081 | 0.3 | |||||||
| 505,000 (1) | Venture Global LNG, Inc., 7.000%, 01/15/2030 | 516,293 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Energy: (continued) | ||||||||||
| 550,000 (1) | Venture Global LNG, Inc., 8.125%, 06/01/2028 | $ | 573,754 | 0.4 | ||||||
| 515,000 (1) | Venture Global LNG, Inc., 8.375%, 06/01/2031 | 544,152 | 0.4 | |||||||
| 15,354,591 | 10.0 | |||||||||
| Financial: 8.5% | ||||||||||
| 200,000 (1) | Acrisure LLC / Acrisure Finance, Inc., 6.000%, 08/01/2029 | 193,074 | 0.1 | |||||||
| 435,000 (1) | Acrisure LLC / Acrisure Finance, Inc., 7.500%, 11/06/2030 | 448,037 | 0.3 | |||||||
| 215,000 (1) | Acrisure LLC / Acrisure Finance, Inc., 8.500%, 06/15/2029 | 224,695 | 0.2 | |||||||
| 1,085,000 (1) | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 6.500%, 10/01/2031 | 1,097,734 | 0.7 | |||||||
| 295,000 | Ally Financial, Inc., 5.750%, 11/20/2025 | 296,372 | 0.2 | |||||||
| 200,000 | Ally Financial, Inc., 6.700%, 02/14/2033 | 204,667 | 0.1 | |||||||
| 450,000 (1) | Aretec Escrow Issuer, Inc., 7.500%, 04/01/2029 | 427,773 | 0.3 | |||||||
| 485,000 (1) | BroadStreet Partners, Inc., 5.875%, 04/15/2029 | 463,166 | 0.3 | |||||||
| 393,000 (1) | Burford Capital Global Finance LLC, 6.875%, 04/15/2030 | 393,181 | 0.3 | |||||||
| 385,000 (1) | CI Financial Corp., 7.500%, 05/30/2029 | 401,680 | 0.3 | |||||||
| 475,000 (1) | Focus Financial Partners LLC, 6.750%, 09/15/2031 | 479,843 | 0.3 | |||||||
| 410,000 (1) | Freedom Mortgage Corp., 6.625%, 01/15/2027 | 411,275 | 0.3 | |||||||
| 250,000 (1) | Freedom Mortgage Corp., 12.250%, 10/01/2030 | 280,215 | 0.2 | |||||||
| 100,000 (1) | Freedom Mortgage Holdings LLC, 9.125%, 05/15/2031 | 102,936 | 0.1 | |||||||
| 100,000 (1) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.250%, 02/01/2027 | 97,802 | 0.1 | |||||||
| 410,000 (1) | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.750%, 06/15/2029 | 400,768 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
32
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 214,000 (1) | Midcap Financial Issuer Trust, 5.625%, 01/15/2030 | $ | 197,691 | 0.1 | ||||||
| 380,000 (1) | Midcap Financial Issuer Trust, 6.500%, 05/01/2028 | 368,474 | 0.2 | |||||||
| 360,000 (3) | MPT Operating Partnership L.P. / MPT Finance Corp., 4.625%, 08/01/2029 | 289,929 | 0.2 | |||||||
| 420,000 (3) | MPT Operating Partnership L.P. / MPT Finance Corp., 5.000%, 10/15/2027 | 377,155 | 0.2 | |||||||
| 320,000 (1) | Nationstar Mortgage Holdings, Inc., 5.000%, 02/01/2026 | 318,713 | 0.2 | |||||||
| 505,000 (1) | Nationstar Mortgage Holdings, Inc., 5.125%, 12/15/2030 | 484,855 | 0.3 | |||||||
| 220,000 | Navient Corp., 5.000%, 03/15/2027 | 218,228 | 0.1 | |||||||
| 180,000 | Navient Corp., 6.750%, 06/25/2025 | 181,245 | 0.1 | |||||||
| 200,000 | OneMain Finance Corp., 4.000%, 09/15/2030 | 178,297 | 0.1 | |||||||
| 470,000 | OneMain Finance Corp., 5.375%, 11/15/2029 | 452,052 | 0.3 | |||||||
| 190,000 | OneMain Finance Corp., 7.125%, 03/15/2026 | 194,118 | 0.1 | |||||||
| 475,000 (1) | Panther Escrow Issuer LLC, 7.125%, 06/01/2031 | 498,605 | 0.3 | |||||||
| 485,000 (1) | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.000%, 02/01/2030 | 504,579 | 0.3 | |||||||
| 345,000 (1) | PRA Group, Inc., 5.000%, 10/01/2029 | 317,688 | 0.2 | |||||||
| 110,000 (1) | RHP Hotel Properties L.P. / RHP Finance Corp., 6.500%, 04/01/2032 | 113,760 | 0.1 | |||||||
| 500,000 (1) | RHP Hotel Properties L.P. / RHP Finance Corp., 7.250%, 07/15/2028 | 523,632 | 0.3 | |||||||
| 210,000 (1) | RLJ Lodging Trust L.P., 3.750%, 07/01/2026 | 205,529 | 0.1 | |||||||
| 570,000 (1) | Ryan Specialty LLC, 5.875%, 08/01/2032 | 579,890 | 0.4 | |||||||
| 80,000 (1) | United Wholesale Mortgage LLC, 5.500%, 11/15/2025 | 79,917 | 0.1 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 590,000 (1) | United Wholesale Mortgage LLC, 5.750%, 06/15/2027 | $ | 586,655 | 0.4 | ||||||
| 415,000 (1) | VFH Parent LLC / Valor Co-Issuer, Inc., 7.500%, 06/15/2031 | 435,590 | 0.3 | |||||||
| 13,029,820 | 8.5 | |||||||||
| Industrial: 11.4% | ||||||||||
| 370,000 (1) | AAR Escrow Issuer LLC, 6.750%, 03/15/2029 | 385,128 | 0.2 | |||||||
| 515,000 (1) | Arcosa, Inc., 6.875%, 08/15/2032 | 539,413 | 0.3 | |||||||
| 400,000 (1) | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 4.000%, 09/01/2029 | 357,413 | 0.2 | |||||||
| 270,000 (1) | Bombardier, Inc., 7.500%, 02/01/2029 | 285,920 | 0.2 | |||||||
| 227,000 (1) | Bombardier, Inc., 7.875%, 04/15/2027 | 227,779 | 0.1 | |||||||
| 245,000 (1) | Bombardier, Inc., 8.750%, 11/15/2030 | 269,334 | 0.2 | |||||||
| 495,000 (1) | Brundage-Bone Concrete Pumping Holdings, Inc., 6.000%, 02/01/2026 | 493,469 | 0.3 | |||||||
| 95,000 (1) | Cascades, Inc. / Cascades USA, Inc., 5.125%, 01/15/2026 | 94,413 | 0.1 | |||||||
| 423,000 (1) | Cascades, Inc. / Cascades USA, Inc., 5.375%, 01/15/2028 | 413,951 | 0.3 | |||||||
| 445,000 (1) | Chart Industries, Inc., 7.500%, 01/01/2030 | 469,553 | 0.3 | |||||||
| 415,000 (1) | Clean Harbors, Inc., 6.375%, 02/01/2031 | 425,524 | 0.3 | |||||||
| 662,000 (1) | Emerald Debt Merger Sub LLC, 6.625%, 12/15/2030 | 683,412 | 0.4 | |||||||
| 595,000 (1) | Energizer Holdings, Inc., 4.750%, 06/15/2028 | 577,929 | 0.4 | |||||||
| 554,000 (1) | Fortress Transportation and Infrastructure Investors LLC, 5.500%, 05/01/2028 | 552,186 | 0.4 | |||||||
| 525,000 (1) | Fortress Transportation and Infrastructure Investors LLC, 5.875%, 04/15/2033 | 522,375 | 0.3 | |||||||
| 460,000 (1) | GFL Environmental, Inc., 4.000%, 08/01/2028 | 442,183 | 0.3 | |||||||
| 433,000 (1) | GFL Environmental, Inc., 4.375%, 08/15/2029 | 415,412 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
33
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 190,000 (1) | Global Infrastructure Solutions, Inc., 5.625%, 06/01/2029 | $ | 186,600 | 0.1 | ||||||
| 196,000 (1) | Global Infrastructure Solutions, Inc., 7.500%, 04/15/2032 | 202,213 | 0.1 | |||||||
| 575,000 (1) | Graham Packaging Co., Inc., 7.125%, 08/15/2028 | 569,914 | 0.4 | |||||||
| 565,000 (1) | Imola Merger Corp., 4.750%, 05/15/2029 | 551,811 | 0.4 | |||||||
| 225,000 (1)(2) | Intelligent Packaging Holdco Issuer L.P., 9.000% (PIK Rate 9.000%, Cash Rate 9.750%), 01/15/2026 | 225,141 | 0.1 | |||||||
| 390,000 (1) | Intelligent Packaging Ltd. Finco, Inc. / Intelligent Packaging Ltd. Co-Issuer LLC, 6.000%, 09/15/2028 | 387,668 | 0.3 | |||||||
| 450,000 (1) | Madison IAQ LLC, 5.875%, 06/30/2029 | 438,529 | 0.3 | |||||||
| 455,000 (1) | New Enterprise Stone & Lime Co., Inc., 9.750%, 07/15/2028 | 465,221 | 0.3 | |||||||
| 490,000 (1) | Oscar AcquisitionCo LLC / Oscar Finance, Inc., 9.500%, 04/15/2030 | 478,112 | 0.3 | |||||||
| 655,000 (1) | Owens-Brockway Glass Container, Inc., 7.250%, 05/15/2031 | 673,721 | 0.4 | |||||||
| 470,000 (1) | Sealed Air Corp., 4.000%, 12/01/2027 | 454,577 | 0.3 | |||||||
| 245,000 (1) | Sealed Air Corp/Sealed Air Corp. US, 6.125%, 02/01/2028 | 249,319 | 0.2 | |||||||
| 520,000 (1) | Sensata Technologies, Inc., 3.750%, 02/15/2031 | 476,651 | 0.3 | |||||||
| 515,000 (1) | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/2031 | 556,035 | 0.4 | |||||||
| 385,000 (1) | Standard Industries, Inc., 3.375%, 01/15/2031 | 343,318 | 0.2 | |||||||
| 235,000 (1) | Standard Industries, Inc., 4.375%, 07/15/2030 | 222,600 | 0.1 | |||||||
| 365,000 (1) | Summit Materials LLC / Summit Materials Finance Corp., 5.250%, 01/15/2029 | 361,330 | 0.2 | |||||||
| 338,000 (1) | Summit Materials LLC / Summit Materials Finance Corp., 6.500%, 03/15/2027 | 339,479 | 0.2 | |||||||
| 480,000 (1) | Terex Corp., 6.250%, 10/15/2032 | 480,000 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Industrial: (continued) | ||||||||||
| 435,000 | TransDigm, Inc., 4.625%, 01/15/2029 | $ | 420,447 | 0.3 | ||||||
| 395,000 | TransDigm, Inc., 5.500%, 11/15/2027 | 393,941 | 0.3 | |||||||
| 540,000 (1) | TransDigm, Inc., 6.000%, 01/15/2033 | 548,054 | 0.4 | |||||||
| 320,000 (1) | TransDigm, Inc., 6.625%, 03/01/2032 | 333,629 | 0.2 | |||||||
| 405,000 (1) | Weekley Homes LLC / Weekley Finance Corp., 4.875%, 09/15/2028 | 394,702 | 0.3 | |||||||
| 550,000 (1) | Wilsonart LLC, 11.000%, 08/15/2032 | 550,694 | 0.4 | |||||||
| 17,459,100 | 11.4 | |||||||||
| Technology: 2.9% | ||||||||||
| 445,000 (1) | Amentum Escrow Corp., 7.250%, 08/01/2032 | 464,824 | 0.3 | |||||||
| 1,085,000 (1) | Cloud Software Group, Inc., 6.500%, 03/31/2029 | 1,080,455 | 0.7 | |||||||
| 290,000 (1) | Entegris Escrow Corp., 5.950%, 06/15/2030 | 295,642 | 0.2 | |||||||
| 195,000 (1) | Entegris, Inc., 3.625%, 05/01/2029 | 182,419 | 0.1 | |||||||
| 390,000 (1) | Fortress Intermediate 3, Inc., 7.500%, 06/01/2031 | 411,948 | 0.3 | |||||||
| 455,000 (1) | NCR Atleos Escrow Corp., 9.500%, 04/01/2029 | 501,260 | 0.3 | |||||||
| 220,000 (1) | Open Text Corp., 3.875%, 12/01/2029 | 204,720 | 0.1 | |||||||
| 415,000 (1) | Open Text Holdings, Inc., 4.125%, 02/15/2030 | 389,965 | 0.3 | |||||||
| 445,000 (1) | Playtika Holding Corp., 4.250%, 03/15/2029 | 408,776 | 0.3 | |||||||
| 475,000 (1) | UKG, Inc., 6.875%, 02/01/2031 | 491,162 | 0.3 | |||||||
| 4,431,171 | 2.9 | |||||||||
| Utilities: 2.3% | ||||||||||
| 485,000 (1) | Alpha Generation LLC, 6.750%, 10/15/2032 | 492,140 | 0.3 | |||||||
| 295,000 (1) | Calpine Corp., 4.500%, 02/15/2028 | 288,237 | 0.2 | |||||||
| 220,000 (1) | Calpine Corp., 5.000%, 02/01/2031 | 213,201 | 0.1 | |||||||
| 375,000 (1) | Calpine Corp., 5.125%, 03/15/2028 | 370,058 | 0.2 | |||||||
| 80,000 (1) | Calpine Corp., 5.250%, 06/01/2026 | 79,748 | 0.1 | |||||||
| 465,000 (1) | Lightning Power LLC, 7.250%, 08/15/2032 | 489,365 | 0.3 | |||||||
| 385,000 | TransAlta Corp., 7.750%, 11/15/2029 | 407,001 | 0.3 | |||||||
| 235,000 (1) | Vistra Operations Co. LLC, 4.375%, 05/01/2029 | 227,638 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
34
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| CORPORATE BONDS/NOTES: (continued) | ||||||||||
| Utilities: (continued) | ||||||||||
| 435,000 (1) | Vistra Operations Co. LLC, 5.500%, 09/01/2026 | $ | 435,200 | 0.3 | ||||||
| 205,000 (1) | Vistra Operations Co. LLC, 5.625%, 02/15/2027 | 204,837 | 0.1 | |||||||
| 270,000 (1) | Vistra Operations Co. LLC, 7.750%, 10/15/2031 | 290,889 | 0.2 | |||||||
| 3,498,314 | 2.3 | |||||||||
| Total Corporate Bonds/ Notes (Cost $125,466,857) | 131,098,801 | 85.3 | ||||||||
| BANK LOANS: 3.2% | ||||||||||
| Communications: 0.2% | ||||||||||
| 397,163 (4) | Gray Television Inc, 10/27/2028 | 367,562 | 0.2 | |||||||
| Consumer, Cyclical: 0.5% | ||||||||||
| 372,656 | American Greetings Corporation, Tranche B, 10.595%, (TSFR1M+5.75%), 10/30/2029 | 376,227 | 0.3 | |||||||
| 375,000 | Petco Health and Wellness Company Inc, Tranche B, 8.115%, 03/06/2028 | 357,240 | 0.2 | |||||||
| 733,467 | 0.5 | |||||||||
| Consumer, Non-cyclical: 0.2% | ||||||||||
| 372,502 | Kuehg Corp., Term Loan B, 9.104%, (TSFR3M+4.500%), 06/12/2030 | 374,079 | 0.2 | |||||||
| Energy: 0.5% | ||||||||||
| 450,000 (4) | Epic Ygrade, 06/29/2029 | 449,121 | 0.3 | |||||||
| 374,063 (4) | Goodnight Water Solutions Holdings, LLC, 05/22/2029 | 374,414 | 0.2 | |||||||
| 823,535 | 0.5 | |||||||||
| Financial: 0.9% | ||||||||||
| 374,063 | Advisor Group, Inc., 2023 Term Loan B, 8.840%, (TSFR1M+3.500%), 08/16/2028 | 370,634 | 0.3 | |||||||
| 808,903 | HUB International Ltd, Facility 2024-1 Incremental Term Loans, 8.255%, (TSFR2M+3.000%), 06/20/2030 | 808,650 | 0.5 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| BANK LOANS: (continued) | ||||||||||
| Financial: (continued) | ||||||||||
| 187,500 | Truist Financial, 2nd Lien Term Loan, 10.060%, (TSFR1M+3.500%), 03/08/2032 | $ | 190,957 | 0.1 | ||||||
| 1,370,241 | 0.9 | |||||||||
| Industrial: 0.3% | ||||||||||
| 374,063 | Northstar Group Services, Inc., 10.014%, (TSFR6M+4.750%), 05/08/2030 | 376,225 | 0.3 | |||||||
| Technology: 0.6% | ||||||||||
| 149,250 | Cotiviti Hld, Tranche B, 8.574%, (TSFR1M+3.250%), 04/30/2031 | 149,188 | 0.1 | |||||||
| 375,000 | Covia Holdings Corporation, 8.450%, (TSFRM1M+3.250%), 04/30/2031 | 377,460 | 0.3 | |||||||
| 375,000 | Nielsen Consumer Inc., Tranche B, 11.549%, (TSFR3M+6.250%), 03/06/2028 | 374,375 | 0.2 | |||||||
| 901,023 | 0.6 | |||||||||
| Total Bank Loans (Cost $4,892,351) | 4,946,132 | 3.2 | ||||||||
| Total Long-Term Investments (Cost $130,359,208) | 136,044,933 | 88.5 | ||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: 5.8% | ||||||||||
| Commercial Paper: 3.7% | ||||||||||
| 1,000,000 | Dominion Energy, Inc., 4.970%, 10/01/2024 | 999,864 | 0.6 | |||||||
| 3,000,000 | Exelon Corp., 2.480%, 10/02/2024 | 2,999,593 | 2.0 | |||||||
| 650,000 | Sherwin-Williams Co., 5.000%, 10/02/2024 | 649,823 | 0.4 | |||||||
| 1,000,000 | SYSCO Corp., 4.940%, 10/01/2024 | 999,865 | 0.7 | |||||||
| Total Commercial Paper (Cost $5,649,506) | 5,649,145 | 3.7 | ||||||||
See Accompanying Notes to Financial Statements
35
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Repurchase Agreements: 1.9% | ||||||||||
| 1,000,000 (5) | Cantor Fitzgerald Securities, Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $1,000,137, collateralized by various U.S. Government/U.S. Government Agency Obligations, 1.500%-7.408%, Market Value plus accrued interest $1,020,000, due 05/01/26-08/20/74) | $ | 1,000,000 | 0.7 | ||||||
| 1,000,000 (5) | Marex Capital Markets Inc., Repurchase Agreement dated 09/30/2024, 5.000%, due 10/01/2024 (Repurchase Amount $1,000,137, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.750%-5.500%, Market Value plus accrued interest $1,020,000, due 07/15/28-09/01/54) | 1,000,000 | 0.6 | |||||||
| 969,896 (5) | RBC Dominion Securities, Inc., Repurchase Agreement dated 09/30/2024, 4.860%, due 10/01/2024 (Repurchase Amount $970,025, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $989,294, due 10/31/24-09/20/54) | 969,896 | 0.6 | |||||||
| Total Repurchase Agreements (Cost $2,969,896) | 2,969,896 | 1.9 | ||||||||
| Shares | Value | Percentage of Net Assets | ||||||||
| SHORT-TERM INVESTMENTS: (continued) | ||||||||||
| Mutual Funds: 0.2% | ||||||||||
| 277,000 (6) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $277,000) | $ | 277,000 | 0.2 | ||||||
| Total Short-Term Investments (Cost $8,896,402) | $ | 8,896,041 | 5.8 | |||||||
| Total Investments in Securities (Cost $139,255,610) | $ | 144,940,974 | 94.3 | |||||||
| Assets in Excess of Other Liabilities | 8,728,381 | 5.7 | ||||||||
| Net Assets | $ | 153,669,355 | 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) | All or a portion of this security is payment-in-kind (“PIK”) which may pay interest or additional principal at the issuer’s discretion. Rates shown are the current rate and possible payment rates. |
| (3) | Security, or a portion of the security, is on loan. |
| (4) | Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined. |
| (5) | All or a portion of the security represents securities purchased with cash collateral received for securities on loan. |
| (6) | Rate shown is the 7-day yield as of September 30, 2024. |
| Reference Rate Abbreviations: | |
| TSFR1M | 1-month CME Term Secured Overnight Financing Rate |
| TSFR3M | 3-month CME Term Secured Overnight Financing Rate |
See Accompanying Notes to Financial Statements
36
| Voya VACS Series HYB Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Corporate Bonds/Notes | $ | — | $ | 131,098,801 | $ | — | $ | 131,098,801 | ||||||||
| Bank Loans | — | 4,946,132 | — | 4,946,132 | ||||||||||||
| Short-Term Investments | 277,000 | 8,619,041 | — | 8,896,041 | ||||||||||||
| Total Investments, at fair value | $ | 277,000 | $ | 144,663,974 | $ | — | $ | 144,940,974 | ||||||||
| ^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
At September 30, 2024, the aggregate cost of securities and other investments for federal income tax purposes was the same as for financial statement purposes. The composition of unrealized appreciation and depreciation of securities and other investments was:
| Cost for federal income tax purposes was $139,265,380. | ||||
| Net unrealized appreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 6,175,832 | ||
| Gross Unrealized Depreciation | (500,238 | ) | ||
| Net Unrealized Appreciation | $ | 5,675,594 | ||
See Accompanying Notes to Financial Statements
37
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: 35.9% | ||||||||||
| 422,109 (1)(2) | Agate Bay Mortgage Trust 2015-1 B4, 3.631%, 01/25/2045 | $ | 341,391 | 0.2 | ||||||
| 310,592 (1)(2) | Agate Bay Mortgage Trust 2016-2 B3, 3.755%, 03/25/2046 | 293,074 | 0.1 | |||||||
| 903,444 (1)(2) | Ajax Mortgage Loan Trust 2019-D A2, 3.500%, 09/25/2065 | 851,183 | 0.4 | |||||||
| 451,722 (1)(2) | Ajax Mortgage Loan Trust 2019-F A2, 3.500%, 07/25/2059 | 434,397 | 0.2 | |||||||
| 563,252 (1)(2) | Bayview MSR Opportunity Master Fund Trust 2021-5 B3A, 3.483%, 11/25/2051 | 480,236 | 0.2 | |||||||
| 591,497 (1)(2) | Bayview MSR Opportunity Master Fund Trust 2022-2 B3A, 3.399%, 12/25/2051 | 494,165 | 0.2 | |||||||
| 721,710 (1)(2) | Bayview Opportunity Master Fund VI Trust 2021-6 B3A, 3.387%, 10/25/2051 | 607,792 | 0.3 | |||||||
| 333,173 (2) | Bear Stearns ALT-A Trust 2005-9 26A1, 4.110%, 11/25/2035 | 185,626 | 0.1 | |||||||
| 1,500,000 (1)(2) | Chase Home Lending Mortgage Trust 2024-8 A9A, 5.500%, 08/25/2055 | 1,494,316 | 0.7 | |||||||
| 521,604 (1)(2) | CIM Trust 2019-INV3 B1A, 4.663%, 08/25/2049 | 496,463 | 0.2 | |||||||
| 361,225 (1)(2) | CIM Trust 2021-J1 A19, 2.500%, 03/25/2051 | 301,090 | 0.2 | |||||||
| 428,243 (1)(2) | Citigroup Mortgage Loan Trust 2021-J3 B3W, 2.860%, 09/25/2051 | 350,071 | 0.2 | |||||||
| 1,053,706 (1)(2) | COLT Mortgage Loan Trust 2021-1 A1, 0.910%, 06/25/2066 | 904,530 | 0.5 | |||||||
| 873,330 (1)(2) | Connecticut Avenue Securities Trust 2020-SBT1 1M2, 9.045%, (SOFR30A + 3.764%), 02/25/2040 | 924,307 | 0.5 | |||||||
| 1,054,019 (1)(2) | Connecticut Avenue Securities Trust 2022-R01 1B1, 8.430%, (SOFR30A + 3.150%), 12/25/2041 | 1,089,425 | 0.5 | |||||||
| 602,296 (1)(2) | Deephaven Residential Mortgage Trust 2021-4 M1, 3.257%, 11/25/2066 | 476,837 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 602,296 (1)(2) | Fannie Mae Connecticut Avenue Securities 2020-R02 2B1, 8.395%, (SOFR30A + 3.114%), 01/25/2040 | $ | 617,430 | 0.3 | ||||||
| 301,148 (1)(2) | Fannie Mae Connecticut Avenue Securities 2021-R02 2B1, 8.580%, (SOFR30A + 3.300%), 11/25/2041 | 310,779 | 0.2 | |||||||
| 1,761,717 (1)(2) | Fannie Mae Connecticut Avenue Securities 2023-R02 1B1, 10.830%, (SOFR30A + 5.550%), 01/25/2043 | 1,950,580 | 1.0 | |||||||
| 500,000 (1)(2) | Fannie Mae Connecticut Avenue Securities 2023-R05 1B1, 10.013%, (SOFR30A + 4.750%), 06/25/2043 | 544,109 | 0.3 | |||||||
| 392,538 (1)(2) | Flagstar Mortgage Trust 2018-4 B3, 4.143%, 07/25/2048 | 361,930 | 0.2 | |||||||
| 1,542,024 (1)(2) | Flagstar Mortgage Trust 2019-1INV B2A, 4.523%, 10/25/2049 | 1,418,502 | 0.7 | |||||||
| 1,372,368 (1)(2) | Flagstar Mortgage Trust 2020-1INV B2A, 4.199%, 03/25/2050 | 1,254,771 | 0.6 | |||||||
| 683,995 (1)(2) | Flagstar Mortgage Trust 2020-1INV B3, 4.199%, 03/25/2050 | 619,168 | 0.3 | |||||||
| 1,505,741 (1)(2) | Freddie Mac STACR REMIC Trust 2021-HQA4 B1, 9.030%, (SOFR30A + 3.750%), 12/25/2041 | 1,551,387 | 0.8 | |||||||
| 3,011,482 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA1 B1, 8.680%, (SOFR30A + 3.400%), 01/25/2042 | 3,112,955 | 1.5 | |||||||
| 2,845,850 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA2 B1, 10.030%, (SOFR30A + 4.750%), 02/25/2042 | 3,015,154 | 1.5 | |||||||
| 1,505,741 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA2 M1B, 7.680%, (SOFR30A + 2.400%), 02/25/2042 | 1,541,891 | 0.8 | |||||||
| 1,656,315 (1)(2) | Freddie Mac STACR REMIC Trust 2022-DNA2 M2, 9.030%, (SOFR30A + 3.750%), 02/25/2042 | 1,742,275 | 0.9 | |||||||
| 485,632 (1)(2) | GCAT Trust 2022-INV3 B1, 4.609%, 08/25/2052 | 455,186 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
38
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 938,555 (1)(2) | GCAT Trust 2023-NQM1 A2, 4.250%, 10/25/2057 | $ | 890,475 | 0.4 | ||||||
| 606,882 (1)(2) | GS Mortage-Backed Securities Trust 2020-PJ1 B3, 3.625%, 05/25/2050 | 527,937 | 0.3 | |||||||
| 981,268 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B2, 3.917%, 03/25/2050 | 924,680 | 0.5 | |||||||
| 840,727 (1)(2) | GS Mortgage-Backed Securities Corp. Trust 2019-PJ3 B3, 3.917%, 03/25/2050 | 790,154 | 0.4 | |||||||
| 1,233,830 (1)(2) | GS Mortgage-Backed Securities Trust 2022-PJ5 B3, 2.987%, 10/25/2052 | 1,021,835 | 0.5 | |||||||
| 854,745 (1)(2) | GS Mortgage-Backed Securities Trust 2022-PJ6 A24, 3.000%, 01/25/2053 | 740,005 | 0.4 | |||||||
| 849,329 (1)(2) | GS Mortgage-Backed Securities Trust 2023-PJ4 A3, 6.000%, 01/25/2054 | 856,734 | 0.4 | |||||||
| 707,937 (1)(2) | Hundred Acre Wood Trust 2021-INV3 B3, 3.303%, 12/25/2051 | 600,399 | 0.3 | |||||||
| 451,722 (1)(2) | Imperial Fund Mortgage Trust 2021-NQM4 M1, 3.446%, 01/25/2057 | 344,489 | 0.2 | |||||||
| 643,279 (2) | IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 5.389%, (TSFR1M + 0.534%), 02/25/2046 | 489,574 | 0.2 | |||||||
| 231,026 (1)(2) | J.P. Morgan Mortgage Trust 2019-LTV1 B2, 4.563%, 06/25/2049 | 221,388 | 0.1 | |||||||
| 422,907 (1)(2) | J.P. Morgan Mortgage Trust 2021-14 B4, 3.151%, 05/25/2052 | 341,125 | 0.2 | |||||||
| 480,991 (1)(2) | J.P. Morgan Mortgage Trust 2022-1 B3, 3.091%, 07/25/2052 | 389,977 | 0.2 | |||||||
| 1,149,746 (1)(2) | J.P. Morgan Mortgage Trust 2022-6 B3, 3.304%, 11/25/2052 | 962,316 | 0.5 | |||||||
| 845,642 (1)(2) | J.P. Morgan Mortgage Trust 2023-2 A15B, 5.500%, 07/25/2053 | 836,982 | 0.4 | |||||||
| 774,312 (1)(2) | J.P. Morgan Mortgage Trust 2023-2 B3, 5.706%, 07/25/2053 | 748,586 | 0.4 | |||||||
| 849,348 (1)(2) | J.P. Morgan Mortgage Trust 2023-3 A15A, 5.000%, 10/25/2053 | 831,584 | 0.4 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 298,205 (1)(2) | JP Morgan Mortgage Trust 2014-1 B5, 3.689%, 01/25/2044 | $ | 259,857 | 0.1 | ||||||
| 901,709 (1)(2) | JP Morgan Mortgage Trust 2017-1 B4, 3.448%, 01/25/2047 | 808,460 | 0.4 | |||||||
| 363,679 (1)(2) | JP Morgan Mortgage Trust 2017-4 B2, 3.871%, 11/25/2048 | 334,940 | 0.2 | |||||||
| 368,904 (1)(2) | JP Morgan Mortgage Trust 2017-6 B4, 3.774%, 12/25/2048 | 335,762 | 0.2 | |||||||
| 402,540 (1)(2) | JP Morgan Mortgage Trust 2018-3 B2, 3.702%, 09/25/2048 | 366,786 | 0.2 | |||||||
| 570,368 (1)(2) | JP Morgan Mortgage Trust 2018-3 B3, 3.702%, 09/25/2048 | 518,244 | 0.3 | |||||||
| 573,925 (1)(2) | JP Morgan Mortgage Trust 2018-4 B2, 3.709%, 10/25/2048 | 524,228 | 0.3 | |||||||
| 793,944 (1)(2) | JP Morgan Mortgage Trust 2019-7 B3A, 3.219%, 02/25/2050 | 699,443 | 0.3 | |||||||
| 804,543 (1)(2) | JP Morgan Mortgage Trust 2019-8 B3A, 3.418%, 03/25/2050 | 720,216 | 0.4 | |||||||
| 871,059 (1)(2) | JP Morgan Mortgage Trust 2019-HYB1 B1, 4.921%, 10/25/2049 | 844,726 | 0.4 | |||||||
| 463,842 (1)(2) | JP Morgan Mortgage Trust 2019-INV1 B2, 4.936%, 10/25/2049 | 451,417 | 0.2 | |||||||
| 959,195 (1)(2) | JP Morgan Mortgage Trust 2019-INV3 B3, 4.361%, 05/25/2050 | 876,952 | 0.4 | |||||||
| 514,539 (1)(2) | JP Morgan Mortgage Trust 2019-LTV2 B2, 4.668%, 12/25/2049 | 499,775 | 0.2 | |||||||
| 514,539 (1)(2) | JP Morgan Mortgage Trust 2019-LTV2 B3, 4.668%, 12/25/2049 | 495,837 | 0.2 | |||||||
| 688,915 (1)(2) | JP Morgan Mortgage Trust 2019-LTV3 B3, 4.356%, 03/25/2050 | 639,994 | 0.3 | |||||||
| 681,228 (1)(2) | JP Morgan Mortgage Trust 2020-5 B1, 3.571%, 12/25/2050 | 604,523 | 0.3 | |||||||
| 403,616 (1)(2) | JP Morgan Mortgage Trust 2020-8 B3, 3.505%, 03/25/2051 | 359,167 | 0.2 | |||||||
| 342,092 (1)(2) | JP Morgan Mortgage Trust 2021-INV6 A5A, 2.500%, 04/25/2052 | 285,142 | 0.1 | |||||||
| 987,885 (1)(2) | JP Morgan Mortgage Trust 2023-10 B3, 6.468%, 05/25/2054 | 976,242 | 0.5 | |||||||
| 1,500,000 (1)(2) | JP Morgan Mortgage Trust 2024-9 A9A, 5.500%, 02/25/2055 | 1,494,316 | 0.7 | |||||||
See Accompanying Notes to Financial Statements
39
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 235,403 (1)(2) | JP Morgan Trust 2015-1 B3, 6.676%, 12/25/2044 | $ | 227,243 | 0.1 | ||||||
| 554,142 (1)(2) | Mello Mortgage Capital Acceptance 2018-MTG2 B2, 4.363%, 10/25/2048 | 529,606 | 0.3 | |||||||
| 711,292 (1)(2) | Mello Mortgage Capital Acceptance 2022-INV1 B3, 3.318%, 03/25/2052 | 590,023 | 0.3 | |||||||
| 1,050,706 (1)(2) | MFA Trust 2021-INV2 M1, 3.199%, 11/25/2056 | 860,025 | 0.4 | |||||||
| 542,067 (1)(2) | Mill City Mortgage Trust 2015-2 B2, 3.744%, 09/25/2057 | 502,204 | 0.3 | |||||||
| 439,505 (1)(2) | New Residential Mortgage Loan Trust 2017-6A B2, 4.000%, 08/27/2057 | 431,011 | 0.2 | |||||||
| 1,144,363 (1)(2) | Oaktown Re VII Ltd. 2021-2 M1C, 8.630%, (SOFR30A + 3.350%), 04/25/2034 | 1,174,178 | 0.6 | |||||||
| 396,565 (1)(2) | OBX Trust 2022-J1 A14, 2.500%, 02/25/2052 | 331,052 | 0.2 | |||||||
| 1,086,604 (1)(2) | Oceanview Mortgage Trust 2021-5 B3, 2.971%, 10/25/2051 | 889,158 | 0.4 | |||||||
| 501,079 (1)(2) | Radnor RE Ltd. 2021-1 M1C, 7.980%, (SOFR30A + 2.700%), 12/27/2033 | 508,233 | 0.3 | |||||||
| 547,635 (1)(2) | RCKT Mortgage Trust 2020-1 B2A, 3.466%, 02/25/2050 | 490,126 | 0.2 | |||||||
| 490,097 (1)(2) | Sequoia Mortgage Trust 2017-2 B2, 3.557%, 02/25/2047 | 458,159 | 0.2 | |||||||
| 689,175 (1)(2) | Sequoia Mortgage Trust 2017-5 B3, 3.787%, 08/25/2047 | 631,685 | 0.3 | |||||||
| 376,012 (1)(2) | Sequoia Mortgage Trust 2019-2 B3, 4.247%, 06/25/2049 | 351,332 | 0.2 | |||||||
| 468,591 (1)(2) | Sequoia Mortgage Trust 2019-CH2 B2B, 4.779%, 08/25/2049 | 465,257 | 0.2 | |||||||
| 827,956 (1)(2) | Sequoia Mortgage Trust 2019-CH3 B1B, 4.502%, 09/25/2049 | 792,572 | 0.4 | |||||||
| 487,560 (1)(2) | Sequoia Mortgage Trust 2019-CH3 B2B, 4.502%, 09/25/2049 | 473,161 | 0.2 | |||||||
| 681,629 (1)(2) | Sequoia Mortgage Trust 2020-2 B3, 3.635%, 03/25/2050 | 603,692 | 0.3 | |||||||
| 547,873 (1)(2) | Sequoia Mortgage Trust 2020-3 B3, 3.318%, 04/25/2050 | 484,537 | 0.2 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | ||||||||||
| 708,212 (1)(2) | Sequoia Mortgage Trust 2021-7 B3, 2.863%, 11/25/2051 | $ | 586,210 | 0.3 | ||||||
| 601,735 (1)(2) | Sequoia Mortgage Trust 2023-1 B2, 5.132%, 01/25/2053 | 576,806 | 0.3 | |||||||
| 861,919 (1)(2) | Sequoia Mortgage Trust 2024-2 A19, 6.000%, 03/25/2054 | 861,893 | 0.4 | |||||||
| 897,807 (1)(2) | Sequoia Mortgage Trust 2024-3 A19, 6.000%, 04/25/2054 | 897,780 | 0.4 | |||||||
| 1,000,000 (1)(2) | Sequoia Mortgage Trust 2024-9 A20, 5.500%, 10/25/2054 | 994,734 | 0.5 | |||||||
| 367,946 (1)(2) | Shellpoint Co.-Originator Trust 2017-2 B3, 3.642%, 10/25/2047 | 339,630 | 0.2 | |||||||
| 269,382 (1)(2) | STAR Trust 2021-1 A3, 1.528%, 05/25/2065 | 250,192 | 0.1 | |||||||
| 903,444 (1)(2) | Starwood Mortgage Residential Trust 2020-1 M1, 2.878%, 02/25/2050 | 801,817 | 0.4 | |||||||
| 602,296 (1)(2) | Starwood Mortgage Residential Trust 2020-3 A2, 2.240%, 04/25/2065 | 557,476 | 0.3 | |||||||
| 752,870 (1) | Starwood Mortgage Residential Trust 2020-INV1 M1, 2.501%, 11/25/2055 | 684,779 | 0.3 | |||||||
| 1,089,451 (2) | TBW Mortgage-Backed Trust 2006-6 A5B, 6.540%, 01/25/2037 | 247,992 | 0.1 | |||||||
| 331,263 (1)(2) | Towd Point Mortgage Trust 2015-2 2B2, 4.930%, 11/25/2057 | 328,850 | 0.2 | |||||||
| 559,868 (1)(2) | UWM Mortgage Trust 2021-INV1 B1, 3.154%, 08/25/2051 | 475,159 | 0.2 | |||||||
| 424,915 (1)(2) | UWM Mortgage Trust 2021-INV4 B3, 3.221%, 12/25/2051 | 350,342 | 0.2 | |||||||
| 1,389,109 (1)(2) | UWM Mortgage Trust 2021-INV5 B3, 3.232%, 01/25/2052 | 1,156,217 | 0.6 | |||||||
| 276,711 (1)(2) | Verus Securitization Trust 2021-3 A1, 1.046%, 06/25/2066 | 242,465 | 0.1 | |||||||
| 579,942 (1)(2) | Wells Fargo Mortgage Backed Securities Trust 2020-1 B3, 3.372%, 12/25/2049 | 504,189 | 0.3 | |||||||
| Total Collateralized Mortgage Obligations (Cost $67,512,706) | 72,485,072 | 35.9 | ||||||||
See Accompanying Notes to Financial Statements
40
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: 35.6% | ||||||||||
| 776,962 (1) | Arbor Multifamily Mortgage Securities Trust 2021-MF3 D, 2.000%, 10/15/2054 | $ | 579,398 | 0.3 | ||||||
| 1,701,186 (1) | Arbor Multifamily Mortgage Securities Trust 2021-MF3 E, 2.000%, 10/15/2054 | 1,234,167 | 0.6 | |||||||
| 500,000 (1) | ARZ Trust 2024-BILT F, 8.268%, 06/11/2029 | 516,961 | 0.3 | |||||||
| 500,000 (1)(2) | Atrium Hotel Portfolio Trust 2017-ATRM C, 7.044%, (TSFR1M + 1.947%), 12/15/2036 | 481,750 | 0.2 | |||||||
| 1,350,000 (1)(2) | BAMLL Trust 2024-BHP B, 7.997%, (TSFR1M + 2.900%), 08/15/2039 | 1,357,301 | 0.7 | |||||||
| 662,526 (1) | BANK 2017-BNK4 D, 3.357%, 05/15/2050 | 452,490 | 0.2 | |||||||
| 6,369,284 (1)(2)(3) | BANK 2017-BNK8 XE, 1.429%, 11/15/2050 | 223,551 | 0.1 | |||||||
| 15,822,796 (2)(3) | BANK 2020-BN27 XA, 1.263%, 04/15/2063 | 772,894 | 0.4 | |||||||
| 5,233,269 (2)(3) | BANK 2020-BN30 XA, 1.387%, 12/15/2053 | 309,881 | 0.2 | |||||||
| 900,000 (2) | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3 C, 4.352%, 02/15/2050 | 849,377 | 0.4 | |||||||
| 13,079,496 (2)(3) | Barclays Commercial Mortgage Trust 2019-C4 XA, 1.666%, 08/15/2052 | 723,967 | 0.4 | |||||||
| 5,710,974 (1)(2)(3) | Benchmark Mortgage Trust 2018-B5 XD, 1.500%, 07/15/2051 | 270,780 | 0.1 | |||||||
| 5,050,397 (2)(3) | Benchmark Mortgage Trust 2019-B10 XA, 1.385%, 03/15/2062 | 222,032 | 0.1 | |||||||
| 4,489,366 (1)(2)(3) | Benchmark Mortgage Trust 2019-B14 XD, 1.397%, 12/15/2062 | 263,623 | 0.1 | |||||||
| 1,841,521 (1) | Benchmark Mortgage Trust 2020-B18 AGNF, 4.139%, 07/15/2053 | 1,746,384 | 0.9 | |||||||
| 6,562,022 (2)(3) | Benchmark Mortgage Trust 2020-B18 XA, 1.908%, 07/15/2053 | 389,949 | 0.2 | |||||||
| 4,772,865 (2)(3) | Benchmark Mortgage Trust 2020-B22 XA, 1.621%, 01/15/2054 | 345,787 | 0.2 | |||||||
| 5,502,008 (2)(3) | Benchmark Mortgage Trust 2021-B23 XA, 1.368%, 02/15/2054 | 298,039 | 0.1 | |||||||
| 10,299,775 (2)(3) | Benchmark Mortgage Trust 2021-B25 XA, 1.202%, 04/15/2054 | 508,997 | 0.3 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,008,846 (1)(4) | BMD2 Re-Remic Trust 2019-FRR1 4A, 0.000%, 05/25/2052 | $ | 751,356 | 0.4 | ||||||
| 2,537,173 (1) | BMD2 Re-Remic Trust 2019-FRR1 6B10, 2.440%, 05/25/2052 | 2,046,201 | 1.0 | |||||||
| 1,500,000 (1)(2) | BOCA Commercial Mortgage Trust 2024-BOCA B, 7.437%, (TSFR1M + 2.340%), 08/15/2041 | 1,501,833 | 0.7 | |||||||
| 723,659 (1)(2) | BX Commercial Mortgage Trust 2019-IMC D, 7.043%, (TSFR1M + 1.946%), 04/15/2034 | 712,279 | 0.4 | |||||||
| 752,296 (1)(2) | BX Commercial Mortgage Trust 2021-VOLT F, 7.611%, (TSFR1M + 2.514%), 09/15/2036 | 747,625 | 0.4 | |||||||
| 1,000,000 (1)(2) | BX Commercial Mortgage Trust 2022-CSMO B, 8.237%, (TSFR1M + 3.141%), 06/15/2027 | 1,006,782 | 0.5 | |||||||
| 580,943 (1)(2) | BX Commercial Mortgage Trust 2023-XL3 D, 8.685%, (TSFR1M + 3.589%), 12/09/2040 | 583,300 | 0.3 | |||||||
| 1,325,000 (1)(2) | BX Commercial Mortgage Trust 2024-AIRC B, 7.237%, (TSFR1M + 2.141%), 08/15/2039 | 1,329,624 | 0.7 | |||||||
| 200,000 (1)(2) | BX Trust 2018-GW C, 6.614%, (TSFR1M + 1.517%), 05/15/2035 | 199,629 | 0.1 | |||||||
| 1,000,000 (1)(2) | BX Trust 2021-ARIA C, 6.857%, (TSFR1M + 1.760%), 10/15/2036 | 992,597 | 0.5 | |||||||
| 500,000 (1)(2) | BX Trust 2021-LGCY E, 6.911%, (TSFR1M + 1.814%), 10/15/2036 | 490,040 | 0.2 | |||||||
| 289,103 (1)(2) | BX Trust 2021-RISE C, 6.661%, (TSFR1M + 1.564%), 11/15/2036 | 285,090 | 0.1 | |||||||
| 1,177,401 (1)(2) | BX Trust 2021-SDMF D, 6.598%, (TSFR1M + 1.501%), 09/15/2034 | 1,153,758 | 0.6 | |||||||
| 5,208,489 (2)(3) | CD Mortgage Trust 2019-CD8 XA, 1.535%, 08/15/2057 | 266,754 | 0.1 | |||||||
| 6,220,215 (1)(2)(3) | Citigroup Commercial Mortgage Trust 2017-P8 XE, 1.397%, 09/15/2050 | 199,041 | 0.1 | |||||||
See Accompanying Notes to Financial Statements
41
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 674,572 (1)(2) | Citigroup COmmercial Mortgage Trust 2018-C6 D, 5.236%, 11/10/2051 | $ | 458,054 | 0.2 | ||||||
| 1,250,000 (1)(2) | DK Trust 2024-SPBX D, 7.847%, (TSFR1M + 2.750%), 03/15/2034 | 1,246,368 | 0.6 | |||||||
| 3,900,752 (2)(3) | Freddie Mac Multifamily Structured Pass Through Certificates K-1521 X1, 1.094%, 08/25/2036 | 315,846 | 0.2 | |||||||
| 6,637,004 (2)(3) | Freddie Mac Multifamily Structured Pass Through Certificates KG01 X3, 3.229%, 05/25/2029 | 813,759 | 0.4 | |||||||
| 1,455,653 (1)(4) | FREMF Mortgage Trust 2016-K57 D, 0.000%, 08/25/2049 | 1,228,717 | 0.6 | |||||||
| 1,000,000 (1)(2) | FS Trust 2024-HULA D, 8.036%, (TSFR1M + 2.940%), 08/15/2039 | 1,004,218 | 0.5 | |||||||
| 2,235,423 (1)(4) | GAM Re-REMIC Trust 2021-FRR1 1C, 0.000%, 11/29/2050 | 1,801,521 | 0.9 | |||||||
| 3,356,899 (1)(4) | GAM Re-REMIC Trust 2021-FRR1 1D, 0.000%, 11/29/2050 | 2,655,889 | 1.3 | |||||||
| 2,415,208 (1)(4) | GAM Re-REMIC Trust 2021-FRR1 2C, 0.000%, 11/29/2050 | 1,885,986 | 0.9 | |||||||
| 1,616,752 (1)(4) | GAM RE-REMIC Trust 2022-FRR3 BK89, 0.000%, 01/27/2052 | 1,192,346 | 0.6 | |||||||
| 58,121 (1)(4) | GAM RE-REMIC Trust 2022-FRR3 C728, 0.000%, 08/27/2050 | 57,811 | 0.0 | |||||||
| 1,178,995 (1)(4) | GAM RE-REMIC Trust 2022-FRR3 CK47, 0.000%, 05/27/2048 | 1,114,372 | 0.5 | |||||||
| 1,159,119 (1)(4) | GAM RE-REMIC Trust 2022-FRR3 D728, 0.000%, 08/27/2050 | 1,149,132 | 0.6 | |||||||
| 1,178,694 (1)(4) | GAM RE-REMIC Trust 2022-FRR3 DK47, 0.000%, 05/27/2048 | 1,098,558 | 0.5 | |||||||
| 1,000,000 (1) | GAM RE-REMIC TRUST 2021-FRR2 BK78, 2.390%, 09/27/2051 | 812,898 | 0.4 | |||||||
| 1,624,694 (1)(4) | GAM RE-REMIC TRUST 2021-FRR2 C730, 0.000%, 09/27/2051 | 1,584,061 | 0.8 | |||||||
| 1,974,628 (1)(4) | GAM RE-REMIC TRUST 2021-FRR2 CK44, 0.000%, 09/27/2051 | 1,913,680 | 0.9 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | ||||||||||
| 1,362,997 (1)(4) | GAM RE-REMIC TRUST 2021-FRR2 CK78, 0.000%, 09/27/2051 | $ | 961,468 | 0.5 | ||||||
| 1,623,791 (1)(4) | GAM RE-REMIC TRUST 2021-FRR2 D730, 0.000%, 09/27/2051 | 1,578,581 | 0.8 | |||||||
| 1,605,421 (1)(4) | GAM RE-REMIC TRUST 2021-FRR2 DK49, 0.000%, 09/27/2051 | 1,474,478 | 0.7 | |||||||
| 653,492 (1) | GS Mortgage Securities Trust 2019-GC39 D, 3.000%, 05/10/2052 | 472,057 | 0.2 | |||||||
| 542,067 (1) | GS Mortgage Securities Trust 2021-GSA3 D, 2.250%, 12/15/2054 | 351,081 | 0.2 | |||||||
| 1,000,000 (1)(2) | Hawaii Hotel Trust 2019-MAUI E, 7.554%, (TSFR1M + 2.457%), 05/15/2038 | 996,644 | 0.5 | |||||||
| 600,000 (1)(2) | HYT Commercial Mortgage Trust 2024-RGCY B, 7.437%, (TSFR1M + 2.341%), 09/15/2041 | 600,758 | 0.3 | |||||||
| 500,000 (1)(2) | INTOWN Mortgage Trust 2022-STAY B, 8.383%, (TSFR1M + 3.286%), 08/15/2039 | 501,963 | 0.2 | |||||||
| 1,760,000 (1)(2) | J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-ICON E, 5.393%, 01/05/2034 | 1,622,793 | 0.8 | |||||||
| 500,000 (1)(2) | JP Morgan Chase Commercial Mortgage Securities Trust 2021-MHC E, 7.911%, (TSFR1M + 2.814%), 04/15/2038 | 498,052 | 0.2 | |||||||
| 1,250,000 (1)(2) | KSL Commercial Mortgage Trust 2023-HT C, 8.535%, (TSFR1M + 3.439%), 12/15/2036 | 1,256,076 | 0.6 | |||||||
| 375,000 (1)(2) | LAQ Mortgage Trust 2023-LAQ D, 9.285%, (TSFR1M + 4.188%), 03/15/2036 | 372,648 | 0.2 | |||||||
| 377,495 (1)(2) | MHC Commercial Mortgage Trust 2021-MHC F, 7.812%, (TSFR1M + 2.715%), 04/15/2038 | 375,550 | 0.2 | |||||||
| 360,000 (1)(2) | MHC Trust 2021-MHC2 E, 7.161%, (TSFR1M + 2.064%), 05/15/2038 | 355,881 | 0.2 | |||||||
See Accompanying Notes to Financial Statements
42
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued) | |||||||||||
| 4,684,360 (1)(2)(3) | Morgan Stanley Capital I 2017-HR2 XD, 1.731%, 12/15/2050 | $ | 205,800 | 0.1 | |||||||
| 478,826 (1)(2) | Morgan Stanley Capital I Trust 2016-BNK2 D, 3.000%, 11/15/2049 | 251,254 | 0.1 | ||||||||
| 11,191,948 (2)(3) | Morgan Stanley Capital I Trust 2019-H7 XA, 1.388%, 07/15/2052 | 508,156 | 0.3 | ||||||||
| 653,492 (1) | Prima Capital CRE Securitization Ltd. 2019-7A C, 3.250%, 12/25/2050 | 623,396 | 0.3 | ||||||||
| 3,011,482 (1) | Prima Capital CRE Securitization Ltd. 2019-7A D, 4.250%, 12/25/2050 | 2,600,719 | 1.3 | ||||||||
| 4,104,649 (1)(2) | RFM Reremic Trust 2022-FRR1 AB60, 2.390%, 11/08/2049 | 3,707,174 | 1.8 | ||||||||
| 2,179,560 (1)(2) | RFM Reremic Trust 2022-FRR1 AB64, 2.239%, 03/01/2050 | 1,956,208 | 1.0 | ||||||||
| 1,508,752 (1)(4) | RFM Reremic Trust 2022-FRR1 CK55, 0.000%, 03/28/2049 | 1,335,358 | 0.7 | ||||||||
| 1,897,233 (1)(4) | RFM Reremic Trust 2022-FRR1 CK60, 0.000%, 11/08/2049 | 1,574,989 | 0.8 | ||||||||
| 1,000,000 (1)(2) | SG Commercial Mortgage Securities Trust 2020-COVE E, 3.852%, 03/15/2037 | 861,953 | 0.4 | ||||||||
| 750,000 (1)(2) | SMRT 2022-MINI F, 8.447%, (TSFR1M + 3.350%), 01/15/2039 | 710,050 | 0.3 | ||||||||
| 850,000 (1)(2) | Wells Fargo Commercial Mortgage Trust 2016-C37 D, 3.314%, 12/15/2049 | 766,534 | 0.4 | ||||||||
| 861,000 (1)(2) | Wells Fargo Commercial Mortgage Trust 2016-LC25 D, 3.175%, 12/15/2059 | 745,921 | 0.4 | ||||||||
| 9,374,931 (2)(3) | Wells Fargo Commercial Mortgage Trust 2017-C40 XA, 1.003%, 10/15/2050 | 185,701 | 0.1 | ||||||||
| 6,062,474 (2)(3) | Wells Fargo Commercial Mortgage Trust 2021-C60 XA, 1.624%, 08/15/2054 | 426,239 | 0.2 | ||||||||
| Total Commercial Mortgage-Backed Securities (Cost $65,487,092) | 72,023,935 | 35.6 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: 22.7% | ||||||||||
| Automobile Asset-Backed Securities: 0.3% | ||||||||||
| 708,000 | AmeriCredit Automobile Receivables Trust 2020-2 D, 2.130%, 03/18/2026 | $ | 706,935 | 0.3 | ||||||
| Other Asset-Backed Securities: 18.7% | ||||||||||
| 1,000,000 (1)(2) | AMMC CLO 30 Ltd. 2024-30A C, 7.941%, (TSFR3M + 2.650%), 01/15/2037 | 1,010,240 | 0.5 | |||||||
| 1,150,000 (1)(2) | AMMC CLO XI Ltd. 2012-11A CR2, 7.417%, (TSFR3M + 2.162%), 04/30/2031 | 1,151,316 | 0.6 | |||||||
| 350,000 (1)(2) | Apidos CLO XV 2013-15A CRR, 7.394%, (TSFR3M + 2.112%), 04/20/2031 | 350,822 | 0.2 | |||||||
| 730,000 (1)(2) | Apidos CLO XXIV 2016-24A BRR, 7.594%, (TSFR3M + 2.312%), 10/20/2030 | 731,332 | 0.4 | |||||||
| 327,690 (1) | Applebee’s Funding LLC / IHOP Funding LLC 2019-1A A2II, 4.723%, 06/05/2049 | 322,620 | 0.2 | |||||||
| 1,747,000 (1) | Aqua Finance Trust 2021-A B, 2.400%, 07/17/2046 | 1,510,319 | 0.7 | |||||||
| 823,680 (1) | Arbys Funding LLC 2020-1A A2, 3.237%, 07/30/2050 | 787,577 | 0.4 | |||||||
| 937,350 (1) | Barings CLO Ltd. 2018-3A B2R, 2.268%, 07/20/2029 | 919,383 | 0.5 | |||||||
| 250,000 (1)(2) | Birch Grove Clo 9 Ltd. 2024-9A C, 7.182%, (TSFR3M + 2.000%), 10/22/2037 | 250,351 | 0.1 | |||||||
| 781,125 (1)(2) | BlueMountain CLO XXX Ltd. 2020-30A CR, 7.451%, (TSFR3M + 2.150%), 04/15/2035 | 781,855 | 0.4 | |||||||
| 1,360,763 (1) | Bojangles Issuer LLC 2020-1A A2, 3.832%, 10/20/2050 | 1,355,190 | 0.7 | |||||||
| 800,000 (1)(2) | Cedar Funding V CLO Ltd. 2016-5A CR, 7.647%, (TSFR3M + 2.362%), 07/17/2031 | 801,465 | 0.4 | |||||||
| 300,000 (1)(2) | CIFC Funding Ltd. 2024-3A C, 7.533%, (TSFR3M + 2.200%), 07/21/2037 | 303,522 | 0.1 | |||||||
| 663,875 (1) | CLI Funding VIII LLC 2021-1A A, 1.640%, 02/18/2046 | 606,194 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
43
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 414,058 (1) | Domino’s Pizza Master Issuer LLC 2018-1A A2I, 4.116%, 07/25/2048 | $ | 410,938 | 0.2 | ||||||
| 550,498 (1) | Domino’s Pizza Master Issuer LLC 2018-1A A2II, 4.328%, 07/25/2048 | 544,455 | 0.3 | |||||||
| 750,000 (1)(2) | Elmwood CLO 18 Ltd. 2022-5A CRR, 7.219%, (TSFR3M + 2.000%), 07/17/2037 | 751,859 | 0.4 | |||||||
| 780,000 (1)(2) | Galaxy XV CLO Ltd. 2013-15A CRR, 7.413%, (TSFR3M + 2.112%), 10/15/2030 | 781,755 | 0.4 | |||||||
| 669,525 (1) | Goddard Funding LLC 2022-1A A2, 6.864%, 10/30/2052 | 682,832 | 0.3 | |||||||
| 465,988 (1) | Loanpal Solar Loan Ltd. 2020-3GS B, 3.450%, 12/20/2047 | 386,327 | 0.2 | |||||||
| 380,571 (1) | Mill City Solar Loan Ltd. 2019-2GS A, 3.690%, 07/20/2043 | 348,838 | 0.2 | |||||||
| 240,652 (1) | Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043 | 228,948 | 0.1 | |||||||
| 306,188 (1) | Mosaic Solar Loan Trust 2020-1A B, 3.100%, 04/20/2046 | 270,322 | 0.1 | |||||||
| 1,500,000 (1)(2) | Oaktree CLO Ltd. 2019-4A CRR, 7.552%, (TSFR3M + 2.270%), 07/20/2037 | 1,503,271 | 0.7 | |||||||
| 250,000 (1)(2) | Oaktree CLO Ltd. 2024-25A C, 7.804%, (TSFR3M + 2.500%), 04/20/2037 | 252,722 | 0.1 | |||||||
| 450,000 (1)(2) | Octagon Investment Partners XVI Ltd. 2013-1A CR, 7.397%, (TSFR3M + 2.112%), 07/17/2030 | 450,893 | 0.2 | |||||||
| 800,000 (1)(2) | Palmer Square CLO Ltd. 2018-2A BR, 7.786%, (TSFR3M + 2.500%), 04/16/2037 | 809,350 | 0.4 | |||||||
| 650,937 (1)(2) | Palmer Square Loan Funding Ltd. 2021-2A D, 10.390%, (TSFR3M + 5.262%), 05/20/2029 | 656,355 | 0.3 | |||||||
| 1,000,000 (1)(2) | Parallel Ltd. 2023-1A B, 8.782%, (TSFR3M + 3.500%), 07/20/2036 | 1,011,824 | 0.5 | |||||||
| 7,624 (1) | SoFi Consumer Loan Program Trust 2023-1S A, 5.810%, 05/15/2031 | 7,625 | 0.0 | |||||||
| Principal Amount† | Value | Percentage of Net Assets | ||||||||
| ASSET-BACKED SECURITIES: (continued) | ||||||||||
| Other Asset-Backed Securities: (continued) | ||||||||||
| 1,050,000 (1)(2) | Sound Point CLO XXIX Ltd. 2021-1A C1, 7.846%, (TSFR3M + 2.562%), 04/25/2034 | $ | 1,051,906 | 0.5 | ||||||
| 500,000 (1)(2) | Sound Point CLO XXXII Ltd. 2021-4A C, 7.696%, (TSFR3M + 2.412%), 10/25/2034 | 500,357 | 0.2 | |||||||
| 521,461 (1) | Sunnova Helios II Issuer LLC 2018-1A B, 7.710%, 07/20/2048 | 439,416 | 0.2 | |||||||
| 2,099,756 (1) | Sunnova Helios II Issuer LLC 2021-B B, 2.010%, 07/20/2048 | 1,781,099 | 0.9 | |||||||
| 401,045 (1) | Sunnova Helios IV Issuer LLC 2020-AA A, 2.980%, 06/20/2047 | 359,571 | 0.2 | |||||||
| 1,073,065 (1) | Sunnova Sol II Issuer LLC 2020-2A A, 2.730%, 11/01/2055 | 875,367 | 0.4 | |||||||
| 939,663 (1) | Sunrun Atlas Issuer LLC 2019-2 A, 3.610%, 02/01/2055 | 880,805 | 0.4 | |||||||
| 733,201 (1) | Sunrun Iris Issuer LLC 2023-1A A, 5.750%, 01/30/2059 | 719,230 | 0.4 | |||||||
| 1,917,079 (1) | Sunrun Jupiter Issuer LLC 2022-1A A, 4.750%, 07/30/2057 | 1,852,151 | 0.9 | |||||||
| 390,124 (1) | Sunrun Xanadu Issuer LLC 2019-1A A, 3.980%, 06/30/2054 | 370,926 | 0.2 | |||||||
| 1,041,500 (1)(2) | THL Credit Wind River CLO Ltd. 2017-3A CR, 8.063%, (TSFR3M + 2.762%), 04/15/2035 | 1,043,903 | 0.5 | |||||||
| 490,298 (1) | TIF Funding II LLC 2021-1A A, 1.650%, 02/20/2046 | 440,621 | 0.2 | |||||||
| 1,850,000 (1) | Trafigura Securitisation Finance PLC 2024-1A A2, 5.980%, 11/15/2027 | 1,904,405 | 0.9 | |||||||
| 634,358 (1) | Triton Container Finance VIII LLC 2021-1A B, 2.580%, 03/20/2046 | 577,150 | 0.3 | |||||||
| 333,280 (1)(2) | Venture 33 CLO Ltd. 2018-33A CR, 7.843%, (TSFR3M + 2.542%), 07/15/2031 | 333,689 | 0.2 | |||||||
| 350,000 (1)(2) | VERDE CLO Ltd. 2019-1A CRR, 7.163%, (TSFR3M + 2.000%), 04/15/2032 | 350,569 | 0.2 | |||||||
| 606,834 (1) | Vivint Solar Financing VII LLC 2020-1A A, 2.210%, 07/31/2051 | 541,094 | 0.3 | |||||||
See Accompanying Notes to Financial Statements
44
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| ASSET-BACKED SECURITIES: (continued) | |||||||||||
| Other Asset-Backed Securities: (continued) | |||||||||||
| 416,600 (1)(2) | Wind River CLO Ltd. 2014-1A CRR, 7.491%, (TSFR3M + 2.212%), 07/18/2031 | $ | 417,363 | 0.2 | |||||||
| 1,712,154 (1) | Wingstop Funding LLC 2020-1A A2, 2.841%, 12/05/2050 | 1,612,681 | 0.8 | ||||||||
| 1,913,344 (1) | Zaxby’s Funding LLC 2021-1A A2, 3.238%, 07/30/2051 | 1,762,461 | 0.9 | ||||||||
| 37,795,264 | 18.7 | ||||||||||
| Student Loan Asset-Backed Securities: 3.7% | |||||||||||
| 312,158 (1) | Laurel Road Prime Student Loan Trust 2019-A BFX, 3.000%, 10/25/2048 | 298,800 | 0.1 | ||||||||
| 1,472,013 (1) | Navient Private Education Refi Loan Trust 2019-FA A2, 2.600%, 08/15/2068 | 1,411,740 | 0.7 | ||||||||
| 790,000 (1) | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | 714,095 | 0.4 | ||||||||
| 376,000 (1) | SoFi Professional Loan Program LLC 2017-D BFX, 3.610%, 09/25/2040 | 354,718 | 0.2 | ||||||||
| 1,205,000 (1) | SoFi Professional Loan Program LLC 2017-F BFX, 3.620%, 01/25/2041 | 1,135,485 | 0.6 | ||||||||
| 602,000 (1) | SoFi Professional Loan Program Trust 2018-C BFX, 4.130%, 01/25/2048 | 571,254 | 0.3 | ||||||||
| 632,000 (1) | SoFi Professional Loan Program Trust 2018-D BFX, 4.140%, 02/25/2048 | 600,432 | 0.3 | ||||||||
| 1,521,000 (1) | SoFi Professional Loan Program Trust 2020-B BFX, 2.730%, 05/15/2046 | 1,257,073 | 0.6 | ||||||||
| 1,235,000 (1) | SoFi Professional Loan Program Trust 2020-C BFX, 3.360%, 02/15/2046 | 1,063,946 | 0.5 | ||||||||
| 7,407,543 | 3.7 | ||||||||||
| Total Asset-Backed Securities (Cost $43,923,167) | 45,909,742 | 22.7 | |||||||||
| Total Long-Term Investments (Cost $176,922,965) | 190,418,749 | 94.2 | |||||||||
| Principal Amount† | Value | Percentage of Net Assets | |||||||||
| SHORT-TERM INVESTMENTS: 6.3% | |||||||||||
| Commercial Paper: 6.0% | |||||||||||
| 2,000,000 | American Honda Finance Corp., 4.980%, 10/03/2024 | $ | 1,999,184 | 1.0 | |||||||
| 2,000,000 | Autozone, Inc., 4.990%, 10/01/2024 | 1,999,727 | 1.0 | ||||||||
| 1,000,000 | Consolidated Edison, 5.000%, 10/01/2024 | 999,863 | 0.5 | ||||||||
| 2,000,000 | Dominion Energy, Inc., 5.000%, 10/07/2024 | 1,998,091 | 1.0 | ||||||||
| 1,000,000 | Exelon Corp., 2.480%, 10/02/2024 | 999,864 | 0.5 | ||||||||
| 2,000,000 | McDonald’s Corp., 4.470%, 10/10/2024 | 1,997,560 | 1.0 | ||||||||
| 2,000,000 | Volkswagen Group, 5.210%, 10/10/2024 | 1,997,156 | 1.0 | ||||||||
| Total Commercial Paper (Cost $11,992,733) | 11,991,445 | 6.0 | |||||||||
| Shares | Value | Percentage of Net Assets | |||||||||
| Mutual Funds: 0.3% | |||||||||||
| 692,000 (5) | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.830% (Cost $692,000) | $ | 692,000 | 0.3 | |||||||
| Total Short-Term Investments (Cost $12,684,733) | 12,683,445 | 6.3 | |||||||||
| Total Investments in Securities (Cost $189,607,698) | $ | 203,102,194 | 100.5 | ||||||||
| Liabilities in Excess of Other Assets | (973,372 | ) | (0.5 | ) | |||||||
| Net Assets | $ | 202,128,822 | 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 September 30, 2024. |
| (3) | 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. |
| (4) | 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. |
| (5) | Rate shown is the 7-day yield as of September 30, 2024. |
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
45
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of September 30, 2024 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at September 30, 2024 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Collateralized Mortgage Obligations | $ | — | $ | 72,485,072 | $ | — | $ | 72,485,072 | ||||||||
| Commercial Mortgage-Backed Securities | — | 72,023,935 | — | 72,023,935 | ||||||||||||
| Asset-Backed Securities | — | 45,909,742 | — | 45,909,742 | ||||||||||||
| Short-Term Investments | 692,000 | 11,991,445 | — | 12,683,445 | ||||||||||||
| Total Investments, at fair value | $ | 692,000 | $ | 202,410,194 | $ | — | $ | 203,102,194 | ||||||||
| Other Financial Instruments+ | ||||||||||||||||
| Futures | 30,547 | — | — | 30,547 | ||||||||||||
| Total Assets | $ | 722,547 | $ | 202,410,194 | $ | — | $ | 203,132,741 | ||||||||
| Liabilities Table | ||||||||||||||||
| Other Financial Instruments+ | ||||||||||||||||
| Futures | $ | (63,414 | ) | $ | — | $ | — | $ | (63,414 | ) | ||||||
| Total Liabilities | $ | (63,414 | ) | $ | — | $ | — | $ | (63,414 | ) | ||||||
| ^ | 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. |
At September 30, 2024, the following futures contracts were outstanding for Voya VACS Series SC Fund:
| Description | Number of Contracts | Expiration Date | Notional Amount | Unrealized Appreciation/ (Depreciation) | |||||||||
| Long Contracts: | |||||||||||||
| U.S. Treasury 2-Year Note | 69 | 12/31/24 | $ | 14,368,711 | $ | 28,977 | |||||||
| U.S. Treasury Long Bond | 20 | 12/19/24 | 2,483,750 | (12,168 | ) | ||||||||
| U.S. Treasury Ultra Long Bond | 33 | 12/19/24 | 4,392,093 | (32,436 | ) | ||||||||
| $ | 21,244,554 | $ | (15,627 | ) | |||||||||
| Short Contracts: | |||||||||||||
| U.S. Treasury 5-Year Note | (235) | 12/31/24 | (25,822,461 | ) | (18,810 | ) | |||||||
| U.S. Treasury 10-Year Note | (72) | 12/19/24 | (8,228,250 | ) | 720 | ||||||||
| U.S. Treasury Ultra 10-Year Note | (6) | 12/19/24 | (709,781 | ) | 850 | ||||||||
| $ | (34,760,492 | ) | $ | (17,240 | ) | ||||||||
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of September 30, 2024 was as follows:
| Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | |||
| Asset Derivatives | |||||
| Interest rate contracts | Variation margin receivable on futures contracts* | $ | 30,547 | ||
| Total Asset Derivatives | $ | 30,547 | |||
See Accompanying Notes to Financial Statements
46
| Voya VACS Series SC Fund | PORTFOLIO OF INVESTMENTS as of September 30, 2024 (Unaudited) (continued) |
| Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | |||
| Liability Derivatives | |||||
| Interest rate contracts | Variation margin payable on futures contracts* | $ | 63,414 | ||
| Total Liability Derivatives | $ | 63,414 | |||
| * | 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 Fund’s Statement of Operations for the period ended September 30, 2024 was as follows:
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | ||
| Interest rate contracts | $ | 489,779 | |
| Total | $ | 489,779 | |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
| Derivatives not accounted for as hedging instruments | Futures | |||
| Interest rate contracts | $ | (114,528 | ) | |
| Total | $ | (114,528 | ) | |
At September 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 $189,689,359. | ||||
| Net unrealized appreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 13,665,115 | ||
| Gross Unrealized Depreciation | (285,147 | ) | ||
| Net Unrealized Appreciation | $ | 13,379,968 | ||
See Accompanying Notes to Financial Statements
47
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| 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 |
| Placement Agent | 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 | |
For more complete information, or to obtain a prospectus on any Voya mutual fund, please call your financial advisor or Voya Investments Distributor, LLC at (800) 992-0180 or log on to www.voyainvestments.com. The prospectus should be read carefully before investing. Consider the fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this information and other information about the fund.
220646 (0924)
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Included under Item 7.
Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Included under Item 7.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
Included under Item 7.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Included under Item 7.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 16. Controls and Procedures.
| (a) | Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-CSR are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-CSR and the officer certifications of such Form N-CSR. |
| (b) | There were no significant changes in the registrant’s internal controls that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation.
Not Applicable.
Item 19. Exhibits.
| (a)(1) | The Code of Ethics is not required for the semi-annual filing. |
| (a)(2) | Not applicable. |
| (a)(3)(1) | Not applicable. |
| (a)(3)(2) | Not applicable. |
| (b) | The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant): Voya Funds Trust
| By | /s/ Christian G. Wilson | |
| Christian G. Wilson | ||
| Principal Executive Officer | ||
| Date: | December 5, 2024 | |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By | /s/ Christian G. Wilson | |
| Christian G. Wilson | ||
| Principal Executive Officer |
| Date: | December 5, 2024 |
| By | /s/ Todd Modic | |
| Todd Modic | ||
| Principal Financial Officer |
| Date: | December 5, 2024 |