Investment Adviser
Voya Investments, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
Distributor
Voya Investments Distributor, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
Transfer Agent
BNY Mellon Investment Servicing (U.S.) Inc.
301 Bellevue Parkway
Wilmington, Delaware 19809
Independent Registered Public Accounting Firm
KPMG LLP
Two Financial Center
60 South Street
Boston, Massachusetts 02111
Custodian
State Street Bank and Trust Company
801 Pennsylvania Avenue
Kansas City, Missouri 64105
Legal Counsel
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02199
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
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.
RETIREMENT | INVESTMENTS | INSURANCE
voyainvestments.com | 163061 (0318-052318) |
Item 2. Code of Ethics.
As of the end of the period covered by this report, Registrant had adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to the Registrant’s principal executive officer and principal financial officer. There were no amendments to the Code during the period covered by the report. The Registrant did not grant any waivers, including implicit waivers, from any provisions of the Code during the period covered by this report. The code of ethics is filed herewith pursuant to Item 10(a)(1), Ex-99.CODE ETH.
Item 3. Audit Committee Financial Expert.
The Board of Trustees has determined that Colleen D. Baldwin, Martin J. Gavin, Patrick W. Kenny, Joseph E. Obermeyer, and Roger B. Vincent are audit committee financial experts, as defined in Item 3 of Form N-CSR. Ms. Baldwin, Mr. Gavin, Mr. Kenny, Mr. Obermeyer and Mr. Vincent are “independent” for purposes of Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
| (a) | Audit Fees: The aggregate fees billed for each of the last two fiscal years for professional services rendered by KPMG LLP (“KPMG”), the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $175,325 for the year ended March 31, 2018 and $165,325 for the year ended March 31, 2017. |
| (b) | Audit-Related Fees: The aggregate fees billed in each of the last two fiscal years for assurance and related services by KPMG that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $16,200 for the year ended March 31, 2018 and $16,200 for the year ended March 31, 2017. |
| (c) | Tax Fees: The aggregate fees billed in each of the last two fiscal years for professional services rendered by KPMG for tax compliance, tax advice, and tax planning were $53,696 for the year ended March 31, 2018 and $53,767 for the year ended March 31, 2017. Such services included review of excise distribution calculations (if applicable), preparation of the Funds’ federal, state, and excise tax returns, tax services related to mergers and routine consulting. |
| (d) | All Other Fees: The aggregate fees billed in each of the last two fiscal years for products and services provided by KPMG, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the year ended March 31, 2018 and $0 for the year ended March 31, 2017. |
| (e)(1) | Audit Committee Pre-Approval Policies and Procedures |
AUDIT AND NON-AUDIT SERVICES
PRE-APPROVAL POLICY
I. Statement of Principles
Under the Sarbanes-Oxley Act of 2002 (the “Act”), the Audit Committee of the Board of Directors or Trustees (the “Committee”) of the Voya funds (each a “Fund,” collectively, the “Funds”) set out on Exhibit A to this Audit and Non-Audit Services Pre-Approval Policy (“Policy”) is responsible for the oversight of the work of the Funds’ independent auditors. As part of its responsibilities, the Committee must pre-approve the audit and non-audit services performed by the auditors in order to assure that the provision of these services does not impair the auditors’ independence from the Funds. The Committee has adopted, and the Board has ratified, this Policy, which sets out the procedures and conditions under which the services of the independent auditors may be pre-approved.
Under Securities and Exchange Commission (“SEC”) rules promulgated in accordance with the Act, the Funds may establish two different approaches to pre-approving audit and non-audit services. The Committee may approve services without consideration of specific case-by-case services (“general pre-approval”) or it may pre-approve specific services (“specific pre-approval”). The Committee believes that the combination of these approaches contemplated in this Policy results in an effective and efficient method for pre-approving audit and non-audit services to be performed by the Funds’ independent auditors. Under this Policy, services that are not of a type that may receive general pre-approval require specific pre-approval by the Committee. Any proposed services that exceed pre-approved cost levels or budgeted amounts will also require the Committee’s specific pre-approval.
For both types of approval, the Committee considers whether the subject services are consistent with the SEC’s rules on auditor independence and that such services are compatible with maintaining the auditors independence. The Committee also considers whether a particular audit firm is in the best position to provide effective and efficient services to the Funds. Reasons that the auditors are in the best position include the auditors’ familiarity with the Funds’ business, personnel, culture, accounting systems, risk profile, and other factors, and whether the services will enhance the Funds’ ability to manage and control risk or improve audit quality. Such factors will be considered as a whole, with no one factor being determinative.
The appendices attached to this Policy describe the audit, audit-related, tax-related, and other services that have the Committee’s general pre-approval. For any service that has been approved through general pre-approval, the general pre-approval will remain in place for a period 12 months from the date of pre-approval, unless the Committee determines that a different period is appropriate. The Committee will annually review and pre-approve the services that may be provided by the independent auditors without specific pre-approval. The Committee will revise the list of services subject to general pre-approval as appropriate. This Policy does not serve as a delegation to Fund management of the Committee’s duty to pre-approve services performed by the Funds’ independent auditors.
II. Audit Services
The annual audit services engagement terms and fees are subject to the Committee’s specific pre-approval. Audit services are those services that are normally provided by auditors in connection with statutory and regulatory filings or engagements or those that generally only independent auditors can reasonably provide. They include the Funds’ annual financial statement audit and procedures that the independent auditors must perform in order to form an opinion on the Funds’ financial statements (e.g., information systems and procedural reviews and testing). The Committee will monitor the audit services engagement and approve any changes in terms, conditions or fees deemed by the Committee to be necessary or appropriate.
The Committee may grant general pre-approval to other audit services, such as statutory audits and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or issued in connection with securities offerings.
The Committee has pre-approved the audit services listed on Appendix A. The Committee must specifically approve all audit services not listed on Appendix A.
III. Audit-related Services
Audit-related services are assurance and related services that are reasonably related to the performance of the audit or the review of the Funds’ financial statements or are traditionally performed by the independent auditors. The Committee believes that the provision of audit-related services will not impair the independent auditors’ independence, and therefore may grant pre-approval to audit-related services. Audit-related services include accounting consultations related to accounting, financial reporting or disclosure matters not classified as ���audit services;” assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; agreed-upon or expanded audit procedures relating to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters; and assistance with internal control reporting requirements under Form N-SAR or Form N-CSR.
The Committee has pre-approved the audit-related services listed on Appendix B. The Committee must specifically approve all audit-related services not listed on Appendix B.
IV. Tax Services
The Committee believes the independent auditors can provide tax services to the Funds, including tax compliance, tax planning, and tax advice, without compromising the auditors’ independence. Therefore, the Committee may grant general pre-approval with respect to tax services historically provided by the Funds’ independent auditors that do not, in the Committee’s view, impair auditor independence and that are consistent with the SEC’s rules on auditor independence.
The Committee will not grant pre-approval if the independent auditors initially recommends a transaction the sole business purpose of which is tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Committee may consult outside counsel to determine that tax planning and reporting positions are consistent with this Policy.
The Committee has pre-approved the tax-related services listed on Appendix C. The Committee must specifically approve all tax-related services not listed on Appendix C.
V. Other Services
The Committee believes it may grant approval of non-audit services that are permissible services for independent auditors to a Fund. The Committee has determined to grant general pre-approval to other services that it believes are routine and recurring, do not impair auditor independence, and are consistent with SEC rules on auditor independence.
The Committee has pre-approved the non-audit services listed on Appendix D. The Committee must specifically approve all non-audit services not listed on Appendix D.
A list of the SEC’s prohibited non-audit services is attached to this Policy as Appendix E. The SEC’s rules and relevant guidance should be consulted to determine the precise definitions of these impermissible services and the applicability of exceptions to certain of the SEC’s prohibitions.
VI. Pre-approval of Fee levels and Budgeted Amounts
The Committee will annually establish pre-approval fee levels or budgeted amounts for audit, audit-related, tax and non-audit services to be provided to the Funds by the independent auditors. Any proposed services exceeding these levels or amounts require the Committee’s specific pre-approval. The Committee considers fees for audit and non-audit services when deciding whether to pre-approve services. The Committee may determine, for a pre-approval period of 12 months, the appropriate ratio between the total amount of fees for the Fund’s audit, audit-related, and tax services (including fees for services provided to Fund affiliates that are subject to pre-approval), and the total amount of fees for certain permissible non-audit services for the Fund classified as other services (including any such services provided to Fund affiliates that are subject to pre-approval).
VII. Procedures
Requests or applications for services to be provided by the independent auditors will be submitted to management. If management determines that the services do not fall within those services generally pre-approved by the Committee and set out in the appendices to these procedures, management will submit the services to the Committee or its delagee. Any such submission will include a detailed description of the services to be rendered. Notwithstanding this paragraph, the Committee will, on a quarterly basis, receive from the independent auditors a list of services provided for the previous calendar quarter on a cumulative basis by the auditors during the Pre-Approval Period.
VIII. Delegation
The Committee may delegate pre-approval authority to one or more of the Committee’s members. Any member or members to whom such pre-approval authority is delegated must report any pre-approval decisions, including any pre-approved services, to the Committee at its next scheduled meeting. The Committee will identify any member to whom pre-approval authority is delegated in writing. The member will retain such authority for a period of 12 months from the date of pre-approval unless the Committee determines that a different period is appropriate. The period of delegated authority may be terminated by the Committee or at the option of the member.
IX. Additional Requirements
The Committee will take any measures the Committee deems necessary or appropriate to oversee the work of the independent auditors and to assure the auditors’ independence from the Funds. This may include reviewing a formal written statement from the independent auditors delineating all relationships between the auditors and the Funds, consistent with Independence Standards Board No. 1, and discussing with the auditors their methods and procedures for ensuring independence.
Part of KPMG’s performance of an audit in accordance with standards of the Public Company Accounting Oversight Board (US) includes their responsibility to maintain and monitor auditor independence with respect to the Voya funds. Using a proprietary system called Sentinel, the audit team is able to identify and manage potential conflicts of interest across the member firms of the KPMG International Network and prevent the provision of prohibited services to the Voya entities that would impair KPMG independence with the respect to the Voya funds. KPMG requests pre-approval from the Voya funds Audit Committee for services provided to the Voya funds and for services to affiliated entities that relate to the financial reporting or nature of operations of the Voya Funds. Additionally, KPMG provides an annual summary of the fees for services that have commenced for Voya funds and Affiliates.
Last Approved: November 16, 2017
Appendix A
Pre-Approved Audit Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
Service |
| The Fund(s) | Fee Range |
Statutory audits or financial audits (including tax services associated with audit services) | √ | As presented to Audit Committee1 |
Services associated with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings (e.g., consents), and assistance in responding to SEC comment letters. | √ | Not to exceed $9,750 per filing |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. | √ | Not to exceed $8,000 during the Pre-Approval Period |
Seed capital audit and related review and issuance of consent on the N-2 registration statement | √ | Not to exceed $14,750 per audit |
Audit of summary portfolio of investments | √ | Not to exceed $565 per fund |
| 1 | For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling. |
Appendix B
Pre-Approved Audit-Related Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
Service |
| The Fund(s) | Fund Affiliates | Fee Range |
Services related to Fund mergers (Excludes tax services - See Appendix C for tax services associated with Fund mergers) | √ | √ | Not to exceed $10,000 per merger |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. [Note: Under SEC rules some consultations may be “audit” services and others may be “audit-related” services.] | √ | | Not to exceed $5,000 per occurrence during the Pre-Approval Period |
Review of the Funds’ semi-annual and quarterly financial statements | √ | | Not to exceed $2,700 per set of financial statements per fund |
Reports to regulatory or government agencies related to the annual engagement | √ | | Up to $5,000 per occurrence during the Pre-Approval Period |
Regulatory compliance assistance | √ | √ | Not to exceed $5,000 per quarter |
Training courses | | √ | Not to exceed $5,000 per course |
For Prime Rate Trust, agreed upon procedures for quarterly reports to rating agencies | ��� | | Not to exceed $9,450 per quarter |
Appendix C
Pre-Approved Tax Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
Service |
| The Fund(s) | Fund Affiliates | Fee Range |
Preparation of federal and state income tax returns and federal excise tax returns for the Funds including assistance and review with excise tax distributions | √ | | As presented to Audit Committee2 |
Review of IRC Sections 851(b) and 817(h) diversification testing on a real-time basis | √ | | As presented to Audit Committee2 |
Tax assistance and advice regarding statutory, regulatory or administrative developments | √ | √ | Not to exceed $5,000 for the Funds or for the Funds’ investment adviser during the Pre-Approval Period |
Appendix C, continued
| 2 | For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling. |
Pre-Approved Tax Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
Service |
| The Fund(s) | Fund Affiliates | Fee Range |
Tax training courses | | √ | Not to exceed $5,000 per course during the Pre-Approval Period |
Tax services associated with Fund mergers | √ | √ | Not to exceed $4,000 per fund per merger during the Pre-Approval Period |
Other tax-related assistance and consultation, including, without limitation, assistance in evaluating derivative financial instruments and international tax issues, qualification and distribution issues, year-end reporting for 1099’s and similar routine tax consultations as requested. | √ | | Not to exceed $120,000 during the Pre-Approval Period |
Appendix D
Pre-Approved Other Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
Service |
| The Fund(s) | Fund Affiliates | Fee Range |
Agreed-upon procedures for Class B share 12b-1 programs | | √ | Not to exceed $60,000 during the Pre-Approval Period |
Security counts performed pursuant to Rule 17f-2 of the 1940 Act (i.e., counts for Funds holding securities with affiliated sub-custodians) Cost to be borne 50% by the Funds and 50% by Voya Investments, LLC. | √ | √ | Not to exceed $5,700 per Fund during the Pre-Approval Period |
Agreed upon procedures for 15 (c) FACT Books | √ | | Not to exceed $50,000 during the Pre-Approval Period |
Appendix E
Prohibited Non-Audit Services
Dated: January 1, 2018 to December 31, 2018
| · | Bookkeeping or other services related to the accounting records or financial statements of the Funds |
| · | Financial information systems design and implementation |
| · | Appraisal or valuation services, fairness opinions, or contribution-in-kind reports |
| · | Internal audit outsourcing services |
| · | Broker-dealer, investment adviser, or investment banking services |
| · | Expert services unrelated to the audit |
| · | Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible |
EXHIBIT A
VOYA ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND
VOYA BALANCED PORTFOLIO, INC.
VOYA EMERGING MARKETS HIGH DIVIDEND EQUITY FUND
VOYA EQUITY TRUST
VOYA FUNDS TRUST
VOYA GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND
VOYA GOVERNMENT MONEY MARKET PORTFOLIO
VOYA INFRASTRUCTURE, INDUSTRIALS, AND MATERIALS FUND
VOYA INTERMEDIATE BOND PORTFOLIO
VOYA INTERNATIONAL HIGH DIVIDEND EQUITY INCOME FUND
VOYA INVESTORS TRUST
VOYA MUTUAL FUNDS
VOYA PARTNERS, INC.
VOYA PRIME RATE TRUST
VOYA NATURAL RESOURCES EQUITY INCOME FUND
VOYA SENIOR INCOME FUND
VOYA SEPARATE PORTFOLIOS TRUST
VOYA SERIES FUND, INC.
VOYA STRATEGIC ALLOCATIONS PORTFOLIOS, INC.
VOYA VARIABLE FUNDS
VOYA VARIABLE INSURANCE TRUST
VOYA VARIABLE PORTFOLIOS INC,
VOYA VARIABLE PRODUCTS TRUST
| (e)(2) | Percentage of services referred to in 4(b) – (4)(d) that were approved by the audit committee |
100% of the services were approved by the audit committee.
| (f) | Percentage of hours expended attributable to work performed by other than full time employees of KPMG if greater than 50% |
Not applicable.
| (g) | Non-Audit Fees: The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to each Registrant by the independent registered public accounting firm for each Registrant’s fiscal years ended March 31, 2018 and March 31, 2017; and (ii) the aggregate non-audit fees billed to the investment adviser, or any of its affiliates that provide ongoing services to the registrant, by the independent registered public accounting firm for the same time periods. |
Registrant/Investment Adviser | | 2018 | | | 2017 | |
Voya Funds Trust | | $ | 69,896 | | | $ | 69,967 | |
Voya Investments, LLC (1) | | $ | 74,750 | | | $ | 93,000 | |
(1) Each Registrant’s investment adviser and any of its affiliates, which are subsidiaries of Voya Financial, Inc.
| (h) | Principal Accountants Independence: The Registrant’s Audit committee has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining KPMG’s independence. |
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Schedule of Investments.
Complete schedule of investments, as applicable, is included as part of the report to shareholders filed under Item 1 of this Form and filed herein, as applicable.
Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Trustees
Voya Funds Trust:
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of Voya GNMA Income Fund, Voya High Yield Bond Fund, Voya Intermediate Bond Fund, Voya Short Term Bond Fund, and Voya Strategic Income Opportunities Fund, (the “Funds”), each a series of Voya Funds Trust, including the summary portfolios of investments, as of March 31, 2018, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended and the related notes (collectively, the "financial statements"), the financial highlights for each of the years or periods in the five-year period then ended (the financial statements and financial highlights are included in Item 1 of this Form N-CSR), and the portfolios of investments as of March 31, 2018 (included in Item 6 of this Form N-CSR). In our opinion, the financial statements, financial highlights, and portfolios of investments referred to above present fairly, in all material respects, the financial position of the Funds as of March 31, 2018, the results of their operations for the year then ended, the changes in their net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years or periods in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements, financial highlights, and portfolios of investments are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements, financial highlights, and portfolios of investments based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements, financial highlights, and portfolios of investments are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, financial highlights, and portfolios of investments, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements, financial highlights, and portfolios of investments. Such procedures also included confirmation of securities owned as of March 31, 2018, by correspondence with the custodian and brokers or by other appropriate auditing procedures when replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more Voya investment companies since 1975.
Boston, Massachusetts
May 24, 2018
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 |
Principal Amount† | | | | | | | Value | | | Percentage of Net Assets | |
COLLATERALIZED MORTGAGE OBLIGATIONS: 63.5% |
| 1,467,415 | | | | | Fannie Mae 2004-28 PZ, 6.000%, 05/25/2034 | | | 1,802,670 | | | | 0.2 | |
| 2,439,187 | | | | | Fannie Mae 2004-88 ZC, 6.500%, 12/25/2034 | | | 2,961,286 | | | | 0.3 | |
| 9,218,033 | | | | | Fannie Mae 2005-17 B, 6.500%, (US0001M + 0.000%), 03/25/2035 | | | 10,501,430 | | | | 1.0 | |
| 2,376,546 | | | | | Fannie Mae 2005-43 PZ, 6.000%, 05/25/2035 | | | 2,739,234 | | | | 0.3 | |
| 1,112,786 | | | | | Fannie Mae 2007-60 ZB, 4.750%, 05/25/2037 | | | 1,198,660 | | | | 0.1 | |
| 11,940,575 | | | (1) | | Fannie Mae 2010-150 PS, 4.729%, (-1.000*US0001M + 6.600%), 12/25/2039 | | | 934,859 | | | | 0.1 | |
| 7,480,875 | | | (1) | | Fannie Mae 2010-95 SB, 4.729%, (-1.000*US0001M + 6.600%), 09/25/2040 | | | 873,089 | | | | 0.1 | |
| 4,500,513 | | | | | Fannie Mae 2011-99 CZ, 4.500%, 10/25/2041 | | | 4,855,796 | | | | 0.5 | |
| 12,951,551 | | | (1) | | Fannie Mae 2012-148 HI, 3.500%, 05/25/2042 | | | 1,767,707 | | | | 0.2 | |
| 1,911,844 | | | | | Fannie Mae REMIC Trust 2003-16 CX, 6.500%, 03/25/2033 | | | 2,132,886 | | | | 0.2 | |
| 3,371,657 | | | | | Fannie Mae REMIC Trust 2003-34 LN, 5.000%, 05/25/2033 | | | 3,457,476 | | | | 0.3 | |
| 174,815 | | | | | Fannie Mae REMIC Trust 2004-61 SH, 16.506%, (-3.998*US0001M + 23.988%), 11/25/2032 | | | 234,793 | | | | 0.0 | |
| 3,165,627 | | | | | Fannie Mae REMIC Trust 2004-W3 A8, 5.500%, 05/25/2034 | | | 3,471,983 | | | | 0.3 | |
| 1,519,429 | | | (1) | | Fannie Mae REMIC Trust 2005-17 ES, 4.879%, (-1.000*US0001M + 6.750%), 03/25/2035 | | | 163,431 | | | | 0.0 | |
| 1,166,403 | | | | | Fannie Mae REMIC Trust 2005-59 NQ, 12.196%, (-2.500*US0001M + 16.875%), 05/25/2035 | | | 1,426,289 | | | | 0.1 | |
| 1,121,357 | | | | | Fannie Mae REMIC Trust 2005-88 ZC, 5.000%, 10/25/2035 | | | 1,183,801 | | | | 0.1 | |
| 369,505 | | | | | Fannie Mae REMIC Trust 2006-115 ES, 19.074%, (-4.000*US0001M + 26.560%), 12/25/2036 | | | 501,879 | | | | 0.1 | |
| 2,738,464 | | | (1) | | Fannie Mae REMIC Trust 2006-36 SP, 4.829%, (-1.000*US0001M + 6.700%), 05/25/2036 | | | 317,694 | | | | 0.0 | |
| 5,660,259 | | | (1) | | Fannie Mae REMIC Trust 2006-79 SH, 4.579%, (-1.000*US0001M + 6.450%), 08/25/2036 | | | 956,078 | | | | 0.1 | |
| 520,032 | | | | | Fannie Mae REMIC Trust 2009-12 LK, 9.240%, 03/25/2039 | | | 558,394 | | | | 0.1 | |
| 1,861,549 | | | | | Fannie Mae REMIC Trust 2009-66 XA, 5.500%, 12/25/2035 | | | 2,160,066 | | | | 0.2 | |
| 6,000,000 | | | | | Fannie Mae REMIC Trust 2010-155 JC, 4.000%, 12/25/2039 | | | 6,258,632 | | | | 0.6 | |
| 5,084,839 | | | | | Fannie Mae REMIC Trust 2010-2 LC, 5.000%, 02/25/2040 | | | 5,580,756 | | | | 0.6 | |
| 2,179,155 | | | | | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | | | 2,224,920 | | | | 0.2 | |
| 4,050,489 | | | (1) | | Fannie Mae REMIC Trust 2012-128 VS, 4.379%, (-1.000*US0001M + 6.250%), 06/25/2042 | | | 487,734 | | | | 0.1 | |
| 9,734,805 | | | (1) | | Fannie Mae REMIC Trust 2012-142 BI, 3.000%, 11/25/2027 | | | 928,088 | | | | 0.1 | |
| 4,770,116 | | | (1) | | Fannie Mae REMIC Trust 2012-154 PI, 4.000%, 05/25/2042 | | | 778,929 | | | | 0.1 | |
| 4,294,106 | | | (1) | | Fannie Mae REMIC Trust 2012-68 SD, 4.829%, (-1.000*US0001M + 6.700%), 06/25/2032 | | | 653,472 | | | | 0.1 | |
| 3,457,000 | | | | | Fannie Mae REMIC Trust 2012-97 PC, 3.500%, 09/25/2042 | | | 3,323,186 | | | | 0.3 | |
| 1,596,024 | | | (1) | | Fannie Mae REMIC Trust 2013-13 PI, 3.500%, 04/25/2042 | | | 196,668 | | | | 0.0 | |
| 4,478,782 | | | (1) | | Fannie Mae REMIC Trust 2013-54 ID, 3.000%, 01/25/2033 | | | 544,872 | | | | 0.1 | |
| 7,379,877 | | | | | Fannie Mae Series 2016-51 S, 4.049%, (-1.000*US0001M + 5.920%), 10/25/2043 | | | 7,145,923 | | | | 0.7 | |
| 2,819,927 | | | | | Freddie Mac 3770 GA, 4.500%, 10/15/2040 | | | 2,990,837 | | | | 0.3 | |
| 4,126,547 | | | | | Freddie Mac REMIC Trust 2005-S001 2A2, 1.771%, (US0001M + 0.150%), 09/25/2045 | | | 4,054,091 | | | | 0.4 | |
| 671,376 | | | | | Freddie Mac REMIC Trust 2653 SC, 5.968%, (-0.500*US0001M + 6.800%), 07/15/2033 | | | 711,786 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,155,462 | | | | | Freddie Mac REMIC Trust 2767 ZW, 6.000%, 03/15/2034 | | | 1,310,934 | | | | 0.1 | |
| 281,073 | | | | | Freddie Mac REMIC Trust 3012 ST, 15.564%, (-3.600*US0001M + 21.960%), 04/15/2035 | | | 364,285 | | | | 0.0 | |
| 584,618 | | | | | Freddie Mac REMIC Trust 3065 DC, 14.530%, (-3.000*US0001M + 19.860%), 03/15/2035 | | | 772,143 | | | | 0.1 | |
| 974,738 | | | | | Freddie Mac REMIC Trust 3158 NE, 5.500%, 05/15/2036 | | | 1,063,289 | | | | 0.1 | |
| 6,471,469 | | | (1) | | Freddie Mac REMIC Trust 3181 TA, 0.500%, (-0.794*US0001M + 5.635%), 07/15/2036 | | | 143,290 | | | | 0.0 | |
| 615,739 | | | (1) | | Freddie Mac REMIC Trust 3507 IA, 5.500%, 09/15/2035 | | | 112,255 | | | | 0.0 | |
| 275,992 | | | (1) | | Freddie Mac REMIC Trust 3753 PS, 4.323%, (-1.000*US0001M + 6.100%), 06/15/2040 | | | 10,845 | | | | 0.0 | |
| 700,697 | | | | | Freddie Mac REMIC Trust 3864 NT, 5.500%, (-9.167*US0001M + 60.500%), 03/15/2039 | | | 724,149 | | | | 0.1 | |
| 4,081,887 | | | | | Freddie Mac REMIC Trust 3888 ZG, 4.000%, 07/15/2041 | | | 4,246,099 | | | | 0.4 | |
| 1,983,286 | | | (1) | | Freddie Mac REMIC Trust 4027 QI, 4.500%, 12/15/2040 | | | 279,038 | | | | 0.0 | |
| 1,133,784 | | | | | Freddie Mac Series 4040 UZ, 5.000%, 05/15/2042 | | | 1,297,086 | | | | 0.1 | |
| 274,921 | | | (1) | | Freddie Mac-Ginnie Mae Series 21 SA, 6.129%, (-1.000*US0001M + 8.000%), 10/25/2023 | | | 31,299 | | | | 0.0 | |
| 1,820,981 | | | | | Ginnie Mae 2004-65 ZG, 5.500%, 07/20/2034 | | | 1,975,240 | | | | 0.2 | |
| 4,787,213 | | | | | Ginnie Mae 2009-110 ZA, 5.500%, 11/16/2039 | | | 5,562,503 | | | | 0.5 | |
| 665,728 | | | | | Ginnie Mae 2009-32 QZ, 5.500%, 05/16/2039 | | | 837,798 | | | | 0.1 | |
| 500,175 | | | | | Ginnie Mae 2009-32 YZ, 7.000%, 05/16/2039 | | | 659,384 | | | | 0.1 | |
| 2,893,151 | | | | | Ginnie Mae 2009-50 MZ, 6.000%, 07/16/2039 | | | 3,476,478 | | | | 0.3 | |
| 1,050,516 | | | | | Ginnie Mae 2009-54 HZ, 5.000%, 07/20/2039 | | | 1,133,787 | | | | 0.1 | |
| 3,323,044 | | | | | Ginnie Mae 2009-H01 FA, 2.972%, (US0001M + 1.150%), 11/20/2059 | | | 3,357,302 | | | | 0.3 | |
| 2,000,000 | | | | | Ginnie Mae 2010-116 PB, 5.000%, 06/16/2040 | | | 2,207,919 | | | | 0.2 | |
| 3,641,910 | | | | | Ginnie Mae 2010-125 BZ, 4.500%, 09/16/2040 | | | 3,983,206 | | | | 0.4 | |
| 7,061,985 | | | (2) | | Ginnie Mae 2011-70 PO, 05/16/2041 | | | 5,748,309 | | | | 0.6 | |
| 5,164,731 | | | | | Ginnie Mae 2012-H14 FK, 2.155%, (US0001M + 0.580%), 07/20/2062 | | | 5,191,459 | | | | 0.5 | |
| 5,687,554 | | | (1) | | Ginnie Mae 2014-107 XS, 3.814%, (-1.000*US0001M + 5.600%), 07/16/2044 | | | 649,458 | | | | 0.1 | |
| 2,788,161 | | | (1) | | Ginnie Mae 2014-96 SQ, 3.814%, (-1.000*US0001M + 5.600%), 07/16/2044 | | | 322,181 | | | | 0.0 | |
| 4,047,597 | | | | | Ginnie Mae 2015-H13 FG, 1.975%, (US0001M + 0.400%), 04/20/2065 | | | 4,046,453 | | | | 0.4 | |
| 29,562,860 | | | (1) | | Ginnie Mae 2016-120 IM, 3.500%, 07/20/2046 | | | 4,527,534 | | | | 0.4 | |
| 4,257,427 | | | (1) | | Ginnie Mae 2016-84 IO, 5.000%, 12/20/2040 | | | 452,257 | | | | 0.0 | |
| 25,228,209 | | | | | Ginnie Mae 2016-H20 FB, 2.125%, (US0001M + 0.550%), 09/20/2066 | | | 25,357,145 | | | | 2.5 | |
| 24,209,726 | | | | | Ginnie Mae 2016-H23 F, 2.325%, (US0001M + 0.750%), 10/20/2066 | | | 24,481,892 | | | | 2.4 | |
| 196,157 | | | | | Ginnie Mae Series 2002-11 TS, 15.641%, (-3.000*US0001M + 21.000%), 02/16/2032 | | | 237,888 | | | | 0.0 | |
| 1,518,532 | | | (1) | | Ginnie Mae Series 2002-76 SG, 5.814%, (-1.000*US0001M + 7.600%), 10/16/2029 | | | 226,501 | | | | 0.0 | |
| 5,208,531 | | | | | Ginnie Mae Series 2003-86 ZC, 4.500%, 10/20/2033 | | | 5,498,029 | | | | 0.5 | |
| 188,820 | | | | | Ginnie Mae Series 2004-16 AE, 5.500%, 02/20/2034 | | | 206,457 | | | | 0.0 | |
| 1,728,314 | | | | | Ginnie Mae Series 2004-17 MZ, 5.500%, 03/16/2034 | | | 1,860,886 | | | | 0.2 | |
| 1,105,757 | | | | | Ginnie Mae Series 2004-28 CZ, 5.500%, 04/20/2034 | | | 1,190,661 | | | | 0.1 | |
| 4,638,268 | | | | | Ginnie Mae Series 2004-81 Z, 5.000%, 10/20/2034 | | | 4,975,784 | | | | 0.5 | |
| 162,091 | | | | | Ginnie Mae Series 2004-87 SB, 5.587%, (-1.154*US0001M + 7.673%), 03/17/2033 | | | 165,237 | | | | 0.0 | |
| 1,744,063 | | | (1) | | Ginnie Mae Series 2004-98 SA, 4.878%, (-1.000*US0001M + 6.700%), 11/20/2034 | | | 309,778 | | | | 0.0 | |
| 1,583,370 | | | | | Ginnie Mae Series 2005-21 Z, 5.000%, 03/20/2035 | | | 1,721,104 | | | | 0.2 | |
| 494,120 | | | (1) | | Ginnie Mae Series 2005-25 SI, 6.000%, (-6.000*US0001M + 43.200%), 01/20/2034 | | | 90,057 | | | | 0.0 | |
| 1,357,369 | | | (1) | | Ginnie Mae Series 2005-7 AH, 4.984%, (-1.000*US0001M + 6.770%), 02/16/2035 | | | 200,928 | | | | 0.0 | |
| 1,261,909 | | | (1) | | Ginnie Mae Series 2005-73 IM, 5.500%, 09/20/2035 | | | 290,380 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 812,372 | | | | | Ginnie Mae Series 2005-80 Z, 5.000%, 10/20/2035 | | | 880,339 | | | | 0.1 | |
| 558,381 | | | | | Ginnie Mae Series 2005-91 UP, 10.727%, (-2.000*US0001M + 14.300%), 09/16/2031 | | | 636,002 | | | | 0.1 | |
| 7,029,568 | | | | | Ginnie Mae Series 2005-96 Z, 5.500%, 12/16/2035 | | | 7,604,758 | | | | 0.8 | |
| 11,219,658 | | | | | Ginnie Mae Series 2006-10 ZT, 6.000%, 03/20/2036 | | | 13,007,964 | | | | 1.3 | |
| 1,808,952 | | | | | Ginnie Mae Series 2006-17 TW, 6.000%, 04/20/2036 | | | 2,020,184 | | | | 0.2 | |
| 13,053,171 | | | (1) | | Ginnie Mae Series 2006-26 TB, 0.250%, (-1.000*US0001M + 6.500%), 06/20/2036 | | | 128,707 | | | | 0.0 | |
| 3,299,244 | | | | | Ginnie Mae Series 2006-7 ZA, 5.500%, 02/20/2036 | | | 3,621,150 | | | | 0.4 | |
| 2,730,224 | | | (1) | | Ginnie Mae Series 2007-17 CI, 7.500%, 04/16/2037 | | | 767,904 | | | | 0.1 | |
| 114,076 | | | | | Ginnie Mae Series 2007-37 S, 18.750%, (-3.667*US0001M + 25.300%), 04/16/2037 | | | 130,144 | | | | 0.0 | |
| 169,590 | | | | | Ginnie Mae Series 2007-45 PE, 5.500%, 07/16/2037 | | | 181,231 | | | | 0.0 | |
| 138,857 | | | | | Ginnie Mae Series 2007-5 MT, 2.042%, (US0001M + 0.000%), 02/20/2034 | | | 138,651 | | | | 0.0 | |
| 3,421,447 | | | (1) | | Ginnie Mae Series 2007-53 SC, 4.678%, (-1.000*US0001M + 6.500%), 09/20/2037 | | | 544,621 | | | | 0.1 | |
| 93,383 | | | | | Ginnie Mae Series 2007-53 SW, 14.739%, (-3.000*US0001M + 20.205%), 09/20/2037 | | | 117,266 | | | | 0.0 | |
| 1,691,527 | | | | | Ginnie Mae Series 2007-60 YZ, 5.500%, 10/20/2037 | | | 1,816,939 | | | | 0.2 | |
| 3,137,644 | | | | | Ginnie Mae Series 2007-63 Z, 6.000%, 10/20/2037 | | | 3,474,227 | | | | 0.3 | |
| 2,601,737 | | | | | Ginnie Mae Series 2008-20 PZ, 6.000%, 03/20/2038 | | | 3,029,078 | | | | 0.3 | |
| 891,991 | | | (1) | | Ginnie Mae Series 2008-3 SA, 4.728%, (-1.000*US0001M + 6.550%), 01/20/2038 | | | 138,001 | | | | 0.0 | |
| 1,856,793 | | | (1) | | Ginnie Mae Series 2008-40 PS, 4.714%, (-1.000*US0001M + 6.500%), 05/16/2038 | | | 274,431 | | | | 0.0 | |
| 3,993,932 | | | (1) | | Ginnie Mae Series 2008-82 SA, 4.178%, (-1.000*US0001M + 6.000%), 09/20/2038 | | | 529,510 | | | | 0.1 | |
| 6,092,607 | | | (1) | | Ginnie Mae Series 2009-110 SA, 4.564%, (-1.000*US0001M + 6.350%), 04/16/2039 | | | 603,712 | | | | 0.1 | |
| 726,986 | | | | | Ginnie Mae Series 2009-110 ZC, 4.500%, 11/16/2039 | | | 774,612 | | | | 0.1 | |
| 2,201,602 | | | | | Ginnie Mae Series 2009-121 ZQ, 5.500%, 09/20/2039 | | | 2,373,173 | | | | 0.2 | |
| 1,029,000 | | | | | Ginnie Mae Series 2009-31 BP, 5.000%, 05/20/2039 | | | 1,131,373 | | | | 0.1 | |
| 4,331,852 | | | | | Ginnie Mae Series 2009-31 ZL, 4.500%, 05/20/2039 | | | 4,615,800 | | | | 0.5 | |
| 3,998,976 | | | | | Ginnie Mae Series 2009-34 Z, 4.500%, 05/16/2039 | | | 4,182,111 | | | | 0.4 | |
| 2,742,054 | | | | | Ginnie Mae Series 2009-53 ZB, 6.000%, 07/16/2039 | | | 3,075,180 | | | | 0.3 | |
| 420,624 | | | (1) | | Ginnie Mae Series 2009-55 BI, 1.000%, (-25.000*US0001M + 162.500%), 06/16/2037 | | | 16,299 | | | | 0.0 | |
| 1,652,239 | | | | | Ginnie Mae Series 2009-61 EZ, 7.500%, 08/20/2039 | | | 2,169,029 | | | | 0.2 | |
| 4,918,796 | | | | | Ginnie Mae Series 2009-61 PZ, 7.500%, 08/20/2039 | | | 6,946,346 | | | | 0.7 | |
| 2,931,954 | | | | | Ginnie Mae Series 2009-61 ZQ, 6.000%, 08/16/2039 | | | 3,746,707 | | | | 0.4 | |
| 1,509,557 | | | (1) | | Ginnie Mae Series 2009-66 QS, 4.278%, (-1.000*US0001M + 6.100%), 07/20/2039 | | | 160,857 | | | | 0.0 | |
| 2,941,826 | | | | | Ginnie Mae Series 2009-67 NZ, 6.000%, 08/16/2039 | | | 3,184,213 | | | | 0.3 | |
| 1,439,121 | | | (1) | | Ginnie Mae Series 2009-77 SA, 4.364%, (-1.000*US0001M + 6.150%), 09/16/2039 | | | 192,242 | | | | 0.0 | |
| 3,188,590 | | | | | Ginnie Mae Series 2009-77 ZB, 5.500%, 09/16/2039 | | | 3,603,633 | | | | 0.4 | |
| 889,713 | | | | | Ginnie Mae Series 2009-87 WZ, 6.000%, 10/20/2039 | | | 1,105,427 | | | | 0.1 | |
| 554,676 | | | | | Ginnie Mae Series 2009-92 DZ, 4.500%, 10/16/2039 | | | 589,935 | | | | 0.1 | |
| 3,854,328 | | | (1) | | Ginnie Mae Series 2010-106 IP, 5.000%, 03/20/2040 | | | 540,335 | | | | 0.1 | |
| 2,929,542 | | | (1) | | Ginnie Mae Series 2010-116 NS, 4.864%, (-1.000*US0001M + 6.650%), 09/16/2040 | | | 407,264 | | | | 0.0 | |
| 319,191 | | | (1) | | Ginnie Mae Series 2010-130 KI, 5.500%, 09/16/2040 | | | 41,250 | | | | 0.0 | |
| 1,500,000 | | | | | Ginnie Mae Series 2010-14 B, 4.500%, 02/16/2040 | | | 1,607,488 | | | | 0.2 | |
| 2,105,449 | | | (1) | | Ginnie Mae Series 2010-158 SA, 4.228%, (-1.000*US0001M + 6.050%), 12/20/2040 | | | 317,139 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 903,642 | | | (1) | | Ginnie Mae Series 2010-165 IP, 4.000%, 04/20/2038 | | | 37,408 | | | | 0.0 | |
| 5,909,150 | | | (1) | | Ginnie Mae Series 2010-166 GS, 4.178%, (-1.000*US0001M + 6.000%), 12/20/2040 | | | 757,021 | | | | 0.1 | |
| 3,089,823 | | | (1) | | Ginnie Mae Series 2010-166 NI, 4.500%, 04/20/2039 | | | 376,374 | | | | 0.0 | |
| 3,125,000 | | | | | Ginnie Mae Series 2010-169 AW, 4.500%, 12/20/2040 | | | 3,266,693 | | | | 0.3 | |
| 5,764,713 | | | | | Ginnie Mae Series 2010-169 JZ, 4.000%, 12/20/2040 | | | 5,838,168 | | | | 0.6 | |
| 927,315 | | | (1) | | Ginnie Mae Series 2010-19 LI, 5.000%, 07/16/2039 | | | 113,003 | | | | 0.0 | |
| 2,100,000 | | | | | Ginnie Mae Series 2010-31 BP, 5.000%, 03/20/2040 | | | 2,303,506 | | | | 0.2 | |
| 2,123,551 | | | (1) | | Ginnie Mae Series 2010-4 WI, 6.000%, 01/16/2040 | | | 573,477 | | | | 0.1 | |
| 5,277,460 | | | | | Ginnie Mae Series 2010-42 VZ, 5.500%, 10/20/2039 | | | 6,038,210 | | | | 0.6 | |
| 2,510,796 | | | | | Ginnie Mae Series 2010-59 ZA, 4.500%, 05/20/2040 | | | 2,665,004 | | | | 0.3 | |
| 11,159,943 | | | | | Ginnie Mae Series 2010-61 EZ, 5.000%, 05/20/2040 | | | 11,876,471 | | | | 1.2 | |
| 774,448 | | | (1) | | Ginnie Mae Series 2010-85 NI, 5.000%, 01/20/2038 | | | 29,416 | | | | 0.0 | |
| 1,450,818 | | | (1) | | Ginnie Mae Series 2010-9 SB, 4.678%, (-1.000*US0001M + 6.500%), 09/20/2038 | | | 71,333 | | | | 0.0 | |
| 7,140,545 | | | | | Ginnie Mae Series 2010-H01 FA, 2.451%, (US0001M + 0.820%), 01/20/2060 | | | 7,202,193 | | | | 0.7 | |
| 8,626,315 | | | | | Ginnie Mae Series 2010-H10 FB, 2.631%, (US0001M + 1.000%), 05/20/2060 | | | 8,772,657 | | | | 0.9 | |
| 9,072,108 | | | | | Ginnie Mae Series 2010-H10 FC, 2.631%, (US0001M + 1.000%), 05/20/2060 | | | 9,201,406 | | | | 0.9 | |
| 10,422,523 | | | | | Ginnie Mae Series 2010-H20 AF, 1.905%, (US0001M + 0.330%), 10/20/2060 | | | 10,398,854 | | | | 1.0 | |
| 640,621 | | | (1) | | Ginnie Mae Series 2011-123 QI, 5.000%, 05/20/2041 | | | 100,110 | | | | 0.0 | |
| 225,693 | | | | | Ginnie Mae Series 2011-169 BC, 7.000%, 05/16/2032 | | | 247,209 | | | | 0.0 | |
| 560,673 | | | | | Ginnie Mae Series 2011-169 BG, 5.413%, 04/16/2039 | | | 594,598 | | | | 0.1 | |
| 6,630,689 | | | | | Ginnie Mae Series 2011-25 Z, 4.000%, 02/20/2041 | | | 6,833,288 | | | | 0.7 | |
| 1,863,394 | | | | | Ginnie Mae Series 2011-59 QC, 4.000%, 12/20/2040 | | | 1,954,117 | | | | 0.2 | |
| 9,819,623 | | | (1) | | Ginnie Mae Series 2011-73 LS, 4.868%, (-1.000*US0001M + 6.690%), 08/20/2039 | | | 908,840 | | | | 0.1 | |
| 1,451,571 | | | | | Ginnie Mae Series 2011-H07 FA, 2.075%, (US0001M + 0.500%), 02/20/2061 | | | 1,454,265 | | | | 0.1 | |
| 3,038,615 | | | (1) | | Ginnie Mae Series 2012-102 TI, 4.000%, 08/20/2039 | | | 395,330 | | | | 0.0 | |
| 3,754,080 | | | (1) | | Ginnie Mae Series 2012-103 IC, 3.500%, 08/16/2040 | | | 378,374 | | | | 0.0 | |
| 973,357 | | | (1) | | Ginnie Mae Series 2012-124 MI, 4.000%, 03/20/2042 | | | 123,061 | | | | 0.0 | |
| 11,845,043 | | | (1) | | Ginnie Mae Series 2012-146 AI, 3.000%, 10/20/2037 | | | 1,195,849 | | | | 0.1 | |
| 777,894 | | | (1) | | Ginnie Mae Series 2012-34 MS, 4.914%, (-1.000*US0001M + 6.700%), 04/16/2041 | | | 113,528 | | | | 0.0 | |
| 304,331 | | | | | Ginnie Mae Series 2012-43 MA, 4.000%, 10/20/2041 | | | 308,864 | | | | 0.0 | |
| 6,572,876 | | | (1) | | Ginnie Mae Series 2012-48 SA, 4.864%, (-1.000*US0001M + 6.650%), 04/16/2042 | | | 1,296,227 | | | | 0.1 | |
| 9,166,692 | | | (1) | | Ginnie Mae Series 2012-60 SG, 4.314%, (-1.000*US0001M + 6.100%), 05/16/2042 | | | 1,416,753 | | | | 0.1 | |
| 2,477,252 | | | (1) | | Ginnie Mae Series 2012-98 EI, 4.000%, 04/20/2041 | | | 352,517 | | | | 0.0 | |
| 1,086 | | | (1) | | Ginnie Mae Series 2012-98 WI, 4.500%, 02/20/2038 | | | – | | | | – | |
| 2,673,182 | | | | | Ginnie Mae Series 2012-H11 VA, 2.225%, (US0001M + 0.650%), 05/20/2062 | | | 2,696,962 | | | | 0.3 | |
| 30,206,603 | | | | | Ginnie Mae Series 2012-H12 FB, 2.625%, (US0001M + 1.050%), 02/20/2062 | | | 30,699,717 | | | | 3.0 | |
| 2,318,838 | | | | | Ginnie Mae Series 2012-H20 BA, 2.135%, (US0001M + 0.560%), 09/20/2062 | | | 2,327,242 | | | | 0.2 | |
| 3,000,000 | | | | | Ginnie Mae Series 2013-147 BE, 4.000%, 12/20/2039 | | | 3,145,857 | | | | 0.3 | |
| 1,289,772 | | | | | Ginnie Mae Series 2013-167 Z, 3.000%, 10/16/2043 | | | 1,197,723 | | | | 0.1 | |
| 1,900,000 | | | (1) | | Ginnie Mae Series 2013-186 UI, 2.500%, 11/20/2043 | | | 596,474 | | | | 0.1 | |
| 1,863,913 | | | (1) | | Ginnie Mae Series 2013-186 VI, 4.000%, 12/20/2042 | | | 306,903 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 9,643,286 | | | (1) | | Ginnie Mae Series 2013-20 LI, 4.500%, 12/16/2042 | | | 1,498,511 | | | | 0.2 | |
| 5,195,337 | | | (1) | | Ginnie Mae Series 2013-41 PI, 3.500%, 04/20/2040 | | | 409,238 | | | | 0.0 | |
| 2,571,661 | | | | | Ginnie Mae Series 2013-H08 BF, 1.975%, (US0001M + 0.400%), 03/20/2063 | | | 2,568,210 | | | | 0.3 | |
| 5,457,158 | | | | | Ginnie Mae Series 2013-H10 FT, 2.240%, (H15T1Y + 0.450%), 04/20/2063 | | | 5,475,078 | | | | 0.5 | |
| 4,174,272 | | | | | Ginnie Mae Series 2013-H14 FC, 2.045%, (US0001M + 0.470%), 06/20/2063 | | | 4,180,777 | | | | 0.4 | |
| 1,407,936 | | | | | Ginnie Mae Series 2013-H18 BA, 2.175%, (US0001M + 0.600%), 07/20/2063 | | | 1,414,800 | | | | 0.1 | |
| 4,266,409 | | | | | Ginnie Mae Series 2013-H19 DF, 2.225%, (US0001M + 0.650%), 05/20/2063 | | | 4,289,324 | | | | 0.4 | |
| 12,175,134 | | | | | Ginnie Mae Series 2013-H19 FC, 2.175%, (US0001M + 0.600%), 08/20/2063 | | | 12,231,505 | | | | 1.2 | |
| 3,513,022 | | | | | Ginnie Mae Series 2013-H20 FB, 2.575%, (US0001M + 1.000%), 08/20/2063 | | | 3,565,300 | | | | 0.4 | |
| 4,428,768 | | | | | Ginnie Mae Series 2013-H23 FA, 2.875%, (US0001M + 1.300%), 09/20/2063 | | | 4,532,165 | | | | 0.4 | |
| 9,617,820 | | | | | Ginnie Mae Series 2013-H23 TA, 2.295%, (US0001M + 0.720%), 09/20/2063 | | | 9,699,996 | | | | 1.0 | |
| 2,793,200 | | | | | Ginnie Mae Series 2014-115 EM, 4.000%, 08/20/2044 | | | 2,897,840 | | | | 0.3 | |
| 5,584,582 | | | | | Ginnie Mae Series 2014-118 ZP, 4.000%, 08/20/2044 | | | 5,783,717 | | | | 0.6 | |
| 4,650,531 | | | (1) | | Ginnie Mae Series 2014-30 ES, 3.178%, (-1.000*US0001M + 5.000%), 03/20/2040 | | | 484,654 | | | | 0.1 | |
| 11,887,604 | | | | | Ginnie Mae Series 2015-10 Q, 2.275%, 10/20/2044 | | | 10,602,797 | | | | 1.0 | |
| 12,125,000 | | | | | Ginnie Mae Series 2015-143 B, 3.500%, 04/20/2045 | | | 12,289,410 | | | | 1.2 | |
| 4,074,464 | | | (1) | | Ginnie Mae Series 2015-157 PI, 4.000%, 03/20/2044 | | | 679,535 | | | | 0.1 | |
| 10,749,595 | | | | | Ginnie Mae Series 2015-27 PB, 3.000%, 08/20/2044 | | | 10,542,718 | | | | 1.0 | |
| 45,342,129 | | | | | Ginnie Mae Series 2015-H31 FT, 2.225%, (US0001M + 0.650%), 11/20/2065 | | | 45,507,097 | | | | 4.5 | |
| 17,791,700 | | | (1) | | Ginnie Mae Series 2016-145 IU, 3.500%, 10/20/2046 | | | 3,247,341 | | | | 0.3 | |
| 8,662,181 | | | | | Ginnie Mae Series 2016-5 AB, 4.676%, 01/20/2046 | | | 9,133,196 | | | | 0.9 | |
| 29,367,106 | | | | | Ginnie Mae Series 2016-H08 FT, 2.295%, (US0001M + 0.720%), 02/20/2066 | | | 29,520,666 | | | | 2.9 | |
| 2,597,411 | | | | | Ginnie Mae Series 2017-182 ZL, 3.000%, 12/20/2047 | | | 2,580,239 | | | | 0.3 | |
| 51,808,043 | | | | | Ginnie Mae Series 2017-H23 FC, 2.025%, (US0001M + 0.450%), 11/20/2067 | | | 51,872,264 | | | | 5.1 | |
| 1,568,096 | | | | | Vendee Mortgage Trust 2011-2 DZ, 3.750%, 10/15/2041 | | | 1,578,390 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | Total Collateralized Mortgage Obligations | | | | | | | | |
| | | | (Cost $651,765,804) | | | 646,553,104 | | | | 63.5 | |
| | | | | | | | | | | | | | |
ASSET-BACKED SECURITIES: 0.2% | | | | | | | |
| | | | | | Other Asset-Backed Securities: 0.2% | | | | | | | | |
| 1,079,294 | | | (3) | | Fannie Mae Grantor Trust 2003-T4 2A6, 4.703%, 07/26/2033 | | | 1,116,311 | | | | 0.1 | |
| 162,756 | | | (3) | | Fannie Mae REMIC Trust 2001-W4 AF6, 5.610%, 01/25/2032 | | | 169,669 | | | | 0.0 | |
| 124,056 | | | (3) | | Fannie Mae REMIC Trust 2002-W12 AF6, 5.066%, 02/25/2033 | | | 124,785 | | | | 0.0 | |
| 199,460 | | | (3) | | Fannie Mae REMIC Trust 2002-W2 AF6, 6.500%, 05/25/2032 | | | 203,212 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | Total Asset-Backed Securities | | | | | | | | |
| | | | (Cost $1,649,804) | | | 1,613,977 | | | | 0.2 | |
| | | | | | | | | | | | | | |
COMMERCIAL MORTGAGE-BACKED SECURITIES: 0.5% |
| 666,659 | | | | | Ginnie Mae 2004-23 Z, 5.586%, 03/16/2044 | | | 691,208 | | | | 0.1 | |
| 7,736,843 | | | (1) | | Ginnie Mae 2006-67 IO, 0.571%, 11/16/2046 | | | 37,370 | | | | 0.0 | |
| 713,881 | | | | | Ginnie Mae 2007-52 Z, 4.350%, 01/16/2048 | | | 730,168 | | | | 0.1 | |
| 1,779,505 | | | | | Ginnie Mae 2008-39 Z, 4.500%, 02/16/2048 | | | 1,836,116 | | | | 0.2 | |
| 243,831 | | | (1) | | Ginnie Mae 2008-45 IO, 0.849%, 02/16/2048 | | | 1,041 | | | | 0.0 | |
| 660,828 | | | | | Ginnie Mae 2009-115 D, 4.660%, 01/16/2050 | | | 667,807 | | | | 0.0 | |
| 4,105,318 | | | (1) | | Ginnie Mae 2010-122 IO, 0.285%, 02/16/2044 | | | 83,469 | | | | 0.0 | |
| 80,261 | | | (1) | | Ginnie Mae 2010-123 IA, 2.083%, 10/16/2052 | | | 2,576 | | | | 0.0 | |
| 31,289,878 | | | (1) | | Ginnie Mae 2011-47 IO, 0.020%, 01/16/2051 | | | 316,441 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 868,486 | | | | | Ginnie Mae 2011-53 B, 4.397%, 05/16/2051 | | | 890,726 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | Total Commercial Mortgage-Backed Securities | | | | | | | | |
| | | | (Cost $5,134,249) | | | 5,256,922 | | | | 0.5 | |
| | | | | | | | | | | | | | |
U.S. GOVERNMENT AGENCY OBLIGATIONS: 67.4% |
| | | | | | Federal Home Loan Mortgage Corporation: 5.2%(4) |
| 5,971,412 | | | | | 3.500%, 12/01/2047 | | | 5,994,409 | | | | 0.6 | |
| 34,000,000 | | | (5) | | 3.500%, 04/01/2048 | | | 34,081,985 | | | | 3.4 | |
| 7,044,000 | | | (5) | | 4.000%, 05/01/2048 | | | 7,218,724 | | | | 0.7 | |
| 156,603 | | | | | 5.290%, 10/01/2037 | | | 168,728 | | | | 0.0 | |
| 28,506 | | | | | 5.410%, 07/01/2037 | | | 30,829 | | | | 0.0 | |
| 27,736 | | | | | 5.410%, 08/01/2037 | | | 29,991 | | | | 0.0 | |
| 20,608 | | | | | 5.410%, 08/01/2037 | | | 22,283 | | | | 0.0 | |
| 67,581 | | | | | 5.440%, 01/01/2037 | | | 73,162 | | | | 0.0 | |
| 24,461 | | | | | 5.440%, 02/01/2037 | | | 26,483 | | | | 0.0 | |
| 54,855 | | | | | 5.440%, 04/01/2037 | | | 59,381 | | | | 0.0 | |
| 44,841 | | | | | 5.440%, 08/01/2037 | | | 48,529 | | | | 0.0 | |
| 33,519 | | | | | 5.440%, 09/01/2037 | | | 36,285 | | | | 0.0 | |
| 32,192 | | | | | 5.440%, 02/01/2038 | | | 34,859 | | | | 0.0 | |
| 8,004 | | | | | 5.440%, 06/01/2038 | | | 8,661 | | | | 0.0 | |
| 113,661 | | | | | 5.450%, 12/01/2037 | | | 122,391 | | | | 0.0 | |
| 147,625 | | | | | 5.450%, 12/01/2037 | | | 158,329 | | | | 0.0 | |
| 165,253 | | | | | 5.460%, 05/01/2037 | | | 179,995 | | | | 0.0 | |
| 74,981 | | | | | 5.460%, 08/01/2037 | | | 81,197 | | | | 0.0 | |
| 41,653 | | | | | 5.460%, 01/01/2038 | | | 44,854 | | | | 0.0 | |
| 89,610 | | | | | 5.480%, 08/01/2037 | | | 97,122 | | | | 0.0 | |
| 81,515 | | | | | 5.480%, 10/01/2037 | | | 87,669 | | | | 0.0 | |
| 167,428 | | | | | 5.500%, 08/01/2037 | | | 182,108 | | | | 0.0 | |
| 100,507 | | | | | 5.500%, 11/01/2037 | | | 108,971 | | | | 0.0 | |
| 30,537 | | | | | 5.500%, 04/01/2038 | | | 33,130 | | | | 0.0 | |
| 41,364 | | | | | 5.520%, 09/01/2037 | | | 44,901 | | | | 0.0 | |
| 19,290 | | | | | 5.520%, 10/01/2037 | | | 20,943 | | | | 0.0 | |
| 33,620 | | | | | 5.520%, 01/01/2038 | | | 36,503 | | | | 0.0 | |
| 69,466 | | | | | 5.620%, 12/01/2036 | | | 75,760 | | | | 0.0 | |
| 107,068 | | | | | 5.620%, 03/01/2037 | | | 116,770 | | | | 0.0 | |
| 73,508 | | | | | 5.620%, 08/01/2037 | | | 80,165 | | | | 0.0 | |
| 54,235 | | | | | 5.620%, 12/01/2037 | | | 59,140 | | | | 0.0 | |
| 375,199 | | | | | 5.625%, 12/01/2036 | | | 410,656 | | | | 0.1 | |
| 291,522 | | | | | 5.625%, 01/01/2037 | | | 318,109 | | | | 0.1 | |
| 39,505 | | | | | 5.625%, 01/01/2037 | | | 43,082 | | | | 0.0 | |
| 29,960 | | | | | 5.625%, 02/01/2037 | | | 32,667 | | | | 0.0 | |
| 70,256 | | | | | 5.625%, 03/01/2037 | | | 76,617 | | | | 0.0 | |
| 187,789 | | | | | 5.625%, 03/01/2037 | | | 204,818 | | | | 0.0 | |
| 101,027 | | | | | 5.625%, 06/01/2037 | | | 110,175 | | | | 0.0 | |
| 90,989 | | | | | 5.625%, 07/01/2037 | | | 99,248 | | | | 0.0 | |
| 47,239 | | | | | 5.625%, 07/01/2037 | | | 51,527 | | | | 0.0 | |
| 119,681 | | | | | 5.625%, 02/01/2038 | | | 130,572 | | | | 0.0 | |
| 844,400 | | | | | 5.750%, 09/01/2037 | | | 938,365 | | | | 0.1 | |
| 330,834 | | | | | 5.750%, 10/01/2037 | | | 364,161 | | | | 0.1 | |
| 219,743 | | | | | 5.750%, 11/01/2037 | | | 241,107 | | | | 0.1 | |
| 59,109 | | | | | 5.750%, 12/01/2037 | | | 64,834 | | | | 0.0 | |
| 105,098 | | | | | 6.090%, 12/01/2037 | | | 116,983 | | | | 0.0 | |
| 11,170 | | | | | 7.500%, 01/01/2030 | | | 12,812 | | | | 0.0 | |
| 9,697 | | | | | 8.000%, 01/01/2030 | | | 9,724 | | | | 0.0 | |
| 6,774 | | | | | 9.500%, 07/01/2020 | | | 6,782 | | | | 0.0 | |
| | | | | | | | | 52,596,496 | | | | 5.2 | |
| | | | | | | | | | | | | | |
| | | | | | Federal National Mortgage Association: 5.1%(4) |
| 5,025,308 | | | | | 3.000%, 12/01/2042 | | | 4,949,386 | | | | 0.5 | |
| 4,366,699 | | | | | 3.000%, 08/01/2043 | | | 4,300,753 | | | | 0.4 | |
| 8,892,265 | | | | | 3.500%, 03/01/2046 | | | 8,961,682 | | | | 0.9 | |
| 14,768,598 | | | | | 4.000%, 05/01/2042 | | | 15,285,158 | | | | 1.5 | |
| 1,995,359 | | | | | 4.000%, 05/01/2045 | | | 2,052,412 | | | | 0.2 | |
| 842,273 | | | | | 4.250%, 08/01/2035 | | | 878,794 | | | | 0.1 | |
| 388,204 | | | | | 4.750%, 11/01/2034 | | | 411,301 | | | | 0.1 | |
| 764,547 | | | | | 4.750%, 11/01/2034 | | | 815,648 | | | | 0.1 | |
| 536,735 | | | | | 4.750%, 02/01/2035 | | | 569,539 | | | | 0.1 | |
| 779,673 | | | | | 4.750%, 04/01/2035 | | | 832,297 | | | | 0.1 | |
| 880,082 | | | | | 4.750%, 05/01/2035 | | | 939,177 | | | | 0.1 | |
| 146,300 | | | | | 4.750%, 07/01/2035 | | | 154,657 | | | | 0.0 | |
| 941,739 | | | | | 4.750%, 07/01/2035 | | | 1,005,018 | | | | 0.1 | |
| 155,284 | | | | | 5.000%, 02/01/2033 | | | 166,090 | | | | 0.0 | |
| 150,678 | | | | | 5.000%, 07/01/2033 | | | 161,163 | | | | 0.0 | |
| 93,863 | | | | | 5.000%, 03/01/2036 | | | 100,395 | | | | 0.0 | |
| 408,252 | | | | | 5.000%, 05/01/2036 | | | 438,688 | | | | 0.1 | |
| 165,923 | | | | | 5.030%, 05/01/2037 | | | 177,469 | | | | 0.0 | |
| 302,853 | | | | | 5.030%, 09/01/2037 | | | 324,131 | | | | 0.0 | |
| 52,911 | | | | | 5.155%, 11/01/2036 | | | 56,786 | | | | 0.0 | |
| 364,393 | | | | | 5.155%, 01/01/2037 | | | 392,004 | | | | 0.1 | |
| 86,920 | | | | | 5.250%, 04/01/2032 | | | 93,642 | | | | 0.0 | |
| 170,908 | | | | | 5.250%, 04/01/2032 | | | 184,133 | | | | 0.0 | |
| 29,918 | | | | | 5.280%, 11/01/2036 | | | 32,239 | | | | 0.0 | |
| 207,971 | | | | | 5.280%, 11/01/2036 | | | 224,165 | | | | 0.0 | |
| 50,464 | | | | | 5.280%, 01/01/2037 | | | 54,378 | | | | 0.0 | |
| 77,442 | | | | | 5.290%, 06/01/2037 | | | 83,550 | | | | 0.0 | |
| 218,268 | | | | | 5.290%, 08/01/2037 | | | 235,606 | | | | 0.0 | |
| 358,118 | | | | | 5.290%, 09/01/2037 | | | 386,475 | | | | 0.1 | |
| 405,405 | | | | | 5.290%, 09/01/2037 | | | 428,691 | | | | 0.1 | |
| 365,039 | | | | | 5.290%, 09/01/2037 | | | 380,255 | | | | 0.1 | |
| 83,150 | | | | | 5.290%, 09/01/2037 | | | 89,726 | | | | 0.0 | |
| 326,092 | | | | | 5.290%, 11/01/2037 | | | 337,109 | | | | 0.1 | |
| 90,090 | | | | | 5.290%, 12/01/2037 | | | 98,716 | | | | 0.0 | |
| 288,954 | | | | | 5.290%, 04/01/2038 | | | 315,401 | | | | 0.0 | |
| 58,219 | | | | | 5.300%, 09/01/2036 | | | 62,775 | | | | 0.0 | |
| 26,453 | | | | | 5.300%, 10/01/2036 | | | 28,531 | | | | 0.0 | |
| 39,143 | | | | | 5.300%, 10/01/2036 | | | 42,202 | | | | 0.0 | |
| 155,893 | | | | | 5.300%, 12/01/2036 | | | 168,152 | | | | 0.0 | |
| 136,095 | | | | | 5.300%, 12/01/2036 | | | 146,754 | | | | 0.0 | |
| 73,875 | | | | | 5.300%, 02/01/2037 | | | 79,666 | | | | 0.0 | |
| 153,718 | | | | | 5.300%, 05/01/2037 | | | 165,874 | | | | 0.0 | |
| 425,679 | | | | | 5.300%, 08/01/2037 | | | 459,908 | | | | 0.1 | |
| 65,767 | | | | | 5.350%, 04/01/2029 | | | 71,278 | | | | 0.0 | |
| 47,110 | | | | | 5.350%, 09/01/2029 | | | 51,145 | | | | 0.0 | |
| 302,355 | | | | | 5.390%, 12/01/2037 | | | 327,284 | | | | 0.0 | |
| 75,631 | | | | | 5.390%, 05/01/2038 | | | 83,461 | | | | 0.0 | |
| 286,765 | | | | | 5.405%, 11/01/2036 | | | 310,420 | | | | 0.0 | |
| 260,033 | | | | | 5.405%, 02/01/2037 | | | 281,391 | | | | 0.0 | |
| 172,730 | | | | | 5.440%, 08/01/2047 | | | 181,537 | | | | 0.0 | |
| 303,115 | | | | | 5.440%, 08/01/2047 | | | 319,041 | | | | 0.0 | |
| 292,197 | | | | | 5.440%, 08/01/2047 | | | 312,838 | | | | 0.0 | |
| 167,842 | | | | | 5.440%, 08/01/2047 | | | 179,660 | | | | 0.0 | |
| 184,345 | | | | | 5.440%, 09/01/2047 | | | 193,807 | | | | 0.0 | |
| 498,567 | | | | | 5.440%, 10/01/2047 | | | 534,665 | | | | 0.1 | |
| 98,484 | | | | | 5.440%, 05/01/2048 | | | 105,202 | | | | 0.0 | |
| 116,076 | | | | | 5.620%, 12/01/2036 | | | 121,786 | | | | 0.0 | |
| 111,026 | | | | | 5.740%, 07/01/2037 | | | 122,032 | | | | 0.0 | |
| 168,726 | | | | | 5.740%, 07/01/2037 | | | 185,377 | | | | 0.0 | |
| 93,250 | | | | | 5.740%, 08/01/2037 | | | 102,464 | | | | 0.0 | |
| 141,466 | | | | | 5.740%, 08/01/2037 | | | 155,492 | | | | 0.0 | |
| 200,376 | | | | | 5.740%, 08/01/2037 | | | 209,826 | | | | 0.0 | |
| 52,903 | | | | | 5.875%, 06/01/2035 | | | 54,477 | | | | 0.0 | |
| 155,082 | | | | | 5.890%, 07/01/2047 | | | 165,968 | | | | 0.0 | |
| 373,364 | | | | | 5.890%, 08/01/2047 | | | 400,531 | | | | 0.1 | |
| 115,698 | | | | | 5.890%, 08/01/2047 | | | 123,765 | | | | 0.0 | |
| 117,140 | | | | | 5.890%, 10/01/2047 | | | 125,966 | | | | 0.0 | |
| 35,392 | | | | | 5.900%, 09/01/2028 | | | 38,702 | | | | 0.0 | |
| 103,842 | | | | | 6.600%, 07/01/2027 | | | 110,208 | | | | 0.0 | |
| 56,906 | | | | | 6.600%, 09/01/2027 | | | 60,232 | | | | 0.0 | |
| 37,711 | | | | | 6.600%, 11/01/2027 | | | 37,972 | | | | 0.0 | |
| 76,233 | | | | | 6.600%, 06/01/2028 | | | 79,227 | | | | 0.0 | |
| 19,836 | | | | | 7.500%, 05/01/2028 | | | 19,952 | | | | 0.0 | |
| | | | | | | | | 52,136,202 | | | | 5.1 | |
| | | | | | | | | | | | | | |
| | | | | | Government National Mortgage Association: 57.1% |
| 174,332,000 | | | (5) | | 3.000%, 04/01/2044 | | | 171,522,941 | | | | 16.9 | |
See Accompanying Notes to Financial Statements
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 749,163 | | | | | 3.000%, 11/20/2045 | | | 737,789 | | | | 0.1 | |
| 124,233 | | | | | 3.000%, 12/20/2045 | | | 122,345 | | | | 0.0 | |
| 357,923 | | | | | 3.000%, 12/20/2045 | | | 352,641 | | | | 0.0 | |
| 514,044 | | | | | 3.000%, 12/20/2045 | | | 506,771 | | | | 0.1 | |
| 550,120 | | | | | 3.000%, 01/20/2046 | | | 542,393 | | | | 0.1 | |
| 6,117,630 | | | | | 3.500%, 09/20/2045 | | | 6,179,135 | | | | 0.6 | |
| 3,114,514 | | | | | 3.500%, 08/20/2046 | | | 3,148,957 | | | | 0.3 | |
| 9,153,564 | | | | | 3.500%, 08/20/2046 | | | 9,263,739 | | | | 0.9 | |
| 1,085,176 | | | | | 3.500%, 09/20/2046 | | | 1,097,177 | | | | 0.1 | |
| 3,333,550 | | | | | 3.500%, 09/20/2046 | | | 3,370,174 | | | | 0.3 | |
| 1,481,769 | | | | | 3.500%, 09/20/2046 | | | 1,499,535 | | | | 0.2 | |
| 1,288,964 | | | | | 3.500%, 09/20/2046 | | | 1,303,220 | | | | 0.1 | |
| 3,134,117 | | | | | 3.500%, 09/20/2046 | | | 3,174,623 | | | | 0.3 | |
| 10,152,931 | | | | | 3.500%, 09/20/2046 | | | 10,283,291 | | | | 1.0 | |
| 3,918,053 | | | | | 3.500%, 09/20/2046 | | | 3,968,690 | | | | 0.4 | |
| 6,645,670 | | | | | 3.500%, 09/20/2046 | | | 6,718,684 | | | | 0.7 | |
| 2,041,764 | | | | | 3.500%, 09/20/2046 | | | 2,063,975 | | | | 0.2 | |
| 1,526,043 | | | | | 3.500%, 09/20/2046 | | | 1,545,694 | | | | 0.2 | |
| 1,728,128 | | | | | 3.500%, 09/20/2046 | | | 1,747,238 | | | | 0.2 | |
| 2,575,649 | | | | | 3.500%, 09/20/2046 | | | 2,601,270 | | | | 0.3 | |
| 1,411,516 | | | | | 3.500%, 10/20/2046 | | | 1,428,439 | | | | 0.2 | |
| 6,426,734 | | | | | 3.500%, 10/20/2046 | | | 6,497,518 | | | | 0.7 | |
| 3,317,296 | | | | | 3.500%, 10/20/2046 | | | 3,353,982 | | | | 0.3 | |
| 7,329,480 | | | | | 3.500%, 10/20/2046 | | | 7,410,541 | | | | 0.7 | |
| 3,633,645 | | | | | 3.500%, 10/20/2046 | | | 3,681,868 | | | | 0.4 | |
| 1,743,429 | | | | | 3.500%, 10/20/2046 | | | 1,762,710 | | | | 0.2 | |
| 3,310,520 | | | | | 3.500%, 10/20/2046 | | | 3,349,955 | | | | 0.3 | |
| 1,559,256 | | | | | 3.500%, 10/20/2046 | | | 1,579,405 | | | | 0.2 | |
| 1,032,017 | | | | | 3.500%, 10/20/2046 | | | 1,045,355 | | | | 0.1 | |
| 1,026,298 | | | | | 3.500%, 10/20/2046 | | | 1,041,510 | | | | 0.1 | |
| 1,459,758 | | | | | 3.500%, 10/20/2046 | | | 1,474,278 | | | | 0.2 | |
| 2,704,529 | | | | | 3.500%, 10/20/2046 | | | 2,735,698 | | | | 0.3 | |
| 5,273,840 | | | | | 3.500%, 11/20/2046 | | | 5,340,325 | | | | 0.5 | |
| 3,944,800 | | | | | 3.500%, 11/20/2046 | | | 3,987,626 | | | | 0.4 | |
| 3,512,157 | | | | | 3.500%, 11/20/2046 | | | 3,552,633 | | | | 0.4 | |
| 2,666,429 | | | | | 3.500%, 11/20/2046 | | | 2,697,477 | | | | 0.3 | |
| 5,101,482 | | | | | 3.500%, 11/20/2046 | | | 5,168,744 | | | | 0.5 | |
| 1,223,527 | | | | | 3.500%, 11/20/2046 | | | 1,237,059 | | | | 0.1 | |
| 2,234,050 | | | | | 3.500%, 11/20/2046 | | | 2,266,948 | | | | 0.2 | |
| 4,811,387 | | | | | 3.500%, 11/20/2046 | | | 4,871,116 | | | | 0.5 | |
| 1,069,326 | | | | | 3.500%, 03/20/2047 | | | 1,083,492 | | | | 0.1 | |
| 1,021,714 | | | | | 3.500%, 04/20/2047 | | | 1,032,916 | | | | 0.1 | |
| 932,705 | | | | | 3.500%, 04/20/2047 | | | 944,142 | | | | 0.1 | |
| 1,547,467 | | | | | 3.500%, 04/20/2047 | | | 1,570,254 | | | | 0.2 | |
| 157,057,000 | | | (5) | | 3.500%, 04/01/2048 | | | 158,593,823 | | | | 15.6 | |
| 6,801,555 | | | | | 3.750%, 05/20/2042 | | | 6,936,138 | | | | 0.7 | |
| 6,462,931 | | | | | 3.750%, 05/20/2042 | | | 6,591,761 | | | | 0.7 | |
| 141,161 | | | | | 4.000%, 05/20/2033 | | | 146,916 | | | | 0.0 | |
| 36,716 | | | | | 4.000%, 08/15/2033 | | | 37,799 | | | | 0.0 | |
| 49,027 | | | | | 4.000%, 01/15/2034 | | | 50,482 | | | | 0.0 | |
| 168,719 | | | | | 4.000%, 03/15/2034 | | | 173,725 | | | | 0.0 | |
| 1,795,253 | | | | | 4.000%, 05/20/2034 | | | 1,855,476 | | | | 0.2 | |
| 1,136,267 | | | | | 4.000%, 07/20/2034 | | | 1,168,137 | | | | 0.1 | |
| 1,982,130 | | | | | 4.000%, 07/20/2034 | | | 2,036,101 | | | | 0.2 | |
| 156,487 | | | | | 4.000%, 08/20/2035 | | | 161,052 | | | | 0.0 | |
| 323,371 | | | | | 4.000%, 05/15/2040 | | | 332,909 | | | | 0.0 | |
| 2,670,319 | | | | | 4.000%, 09/20/2040 | | | 2,722,758 | | | | 0.3 | |
| 4,257,768 | | | | | 4.000%, 07/20/2041 | | | 4,329,423 | | | | 0.4 | |
| 14,624,122 | | | | | 4.000%, 08/20/2042 | | | 15,244,780 | | | | 1.5 | |
| 793,616 | | | | | 4.000%, 09/15/2042 | | | 818,731 | | | | 0.1 | |
| 3,025,062 | | | | | 4.000%, 10/20/2043 | | | 3,123,105 | | | | 0.3 | |
| 7,044,000 | | | (5) | | 4.000%, 04/01/2044 | | | 7,240,874 | | | | 0.7 | |
| 4,227,664 | | | | | 4.000%, 12/20/2044 | | | 4,376,599 | | | | 0.4 | |
| 4,042,350 | | | | | 4.000%, 01/20/2045 | | | 4,184,755 | | | | 0.4 | |
| 381,067 | | | | | 4.000%, 12/20/2045 | | | 392,112 | | | | 0.1 | |
| 7,757,059 | | | | | 4.000%, 01/20/2046 | | | 7,998,468 | | | | 0.8 | |
| 1,210,173 | | | | | 4.000%, 01/20/2046 | | | 1,249,121 | | | | 0.1 | |
| 6,449,578 | | | | | 4.000%, 03/20/2046 | | | 6,657,541 | | | | 0.7 | |
| 14,337 | | | | | 4.500%, 07/20/2036 | | | 14,927 | | | | 0.0 | |
| 11,938 | | | | | 4.500%, 08/20/2036 | | | 12,428 | | | | 0.0 | |
| 1,404,994 | | | | | 4.500%, 10/15/2039 | | | 1,488,794 | | | | 0.2 | |
| 964,879 | | | | | 4.500%, 11/15/2039 | | | 1,022,538 | | | | 0.1 | |
| 799,523 | | | | | 4.500%, 11/15/2039 | | | 845,641 | | | | 0.1 | |
| 293,567 | | | | | 4.500%, 12/15/2039 | | | 311,057 | | | | 0.0 | |
| 763,573 | | | | | 4.500%, 01/15/2040 | | | 807,629 | | | | 0.1 | |
| 89,981 | | | | | 4.500%, 01/20/2040 | | | 92,721 | | | | 0.0 | |
| 2,920,656 | | | | | 4.500%, 02/15/2040 | | | 3,089,809 | | | | 0.3 | |
| 523,828 | | | | | 4.500%, 06/15/2040 | | | 551,191 | | | | 0.1 | |
| 128,174 | | | | | 4.500%, 07/20/2040 | | | 132,020 | | | | 0.0 | |
| 594,429 | | | | | 4.500%, 08/20/2040 | | | 612,066 | | | | 0.1 | |
| 1,856,033 | | | | | 4.500%, 09/20/2041 | | | 1,953,969 | | | | 0.2 | |
| 1,018,112 | | | | | 4.750%, 06/15/2029 | | | 1,075,184 | | | | 0.1 | |
| 242,607 | | | | | 4.750%, 01/15/2030 | | | 256,033 | | | | 0.0 | |
| 395,820 | | | | | 4.750%, 09/15/2034 | | | 418,035 | | | | 0.1 | |
| 491 | | | | | 5.000%, 05/15/2018 | | | 492 | | | | 0.0 | |
| 49,553 | | | | | 5.000%, 03/20/2024 | | | 53,156 | | | | 0.0 | |
| 1,338,193 | | | | | 5.000%, 04/20/2030 | | | 1,390,566 | | | | 0.1 | |
| 283,475 | | | | | 5.000%, 07/15/2033 | | | 298,917 | | | | 0.0 | |
| 80,398 | | | | | 5.000%, 03/15/2034 | | | 86,201 | | | | 0.0 | |
| 77,554 | | | | | 5.000%, 04/15/2034 | | | 81,791 | | | | 0.0 | |
| 76,645 | | | | | 5.000%, 01/15/2035 | | | 80,856 | | | | 0.0 | |
| 26,973 | | | | | 5.000%, 03/15/2035 | | | 28,998 | | | | 0.0 | |
| 184,971 | | | | | 5.000%, 03/15/2035 | | | 195,030 | | | | 0.0 | |
| 433,925 | | | | | 5.000%, 04/15/2035 | | | 466,605 | | | | 0.1 | |
| 83,601 | | | | | 5.000%, 04/15/2035 | | | 89,884 | | | | 0.0 | |
| 57,083 | | | | | 5.000%, 04/15/2035 | | | 60,224 | | | | 0.0 | |
| 40,139 | | | | | 5.000%, 05/15/2035 | | | 43,240 | | | | 0.0 | |
| 118,150 | | | | | 5.000%, 05/20/2035 | | | 126,862 | | | | 0.0 | |
| 595,589 | | | | | 5.000%, 11/20/2035 | | | 639,443 | | | | 0.1 | |
| 288,769 | | | | | 5.000%, 04/20/2036 | | | 309,997 | | | | 0.0 | |
| 156,322 | | | | | 5.000%, 02/15/2038 | | | 164,956 | | | | 0.0 | |
| 47,230 | | | | | 5.000%, 06/20/2038 | | | 48,144 | | | | 0.0 | |
| 43,503 | | | | | 5.000%, 08/20/2038 | | | 44,929 | | | | 0.0 | |
| 191,166 | | | | | 5.000%, 10/20/2038 | | | 197,232 | | | | 0.0 | |
| 66,904 | | | | | 5.000%, 11/20/2038 | | | 68,997 | | | | 0.0 | |
| 220,128 | | | | | 5.000%, 01/20/2039 | | | 227,117 | | | | 0.0 | |
| 252,514 | | | | | 5.000%, 02/15/2039 | | | 266,589 | | | | 0.0 | |
| 279,519 | | | | | 5.000%, 03/15/2039 | | | 294,884 | | | | 0.0 | |
| 1,294,934 | | | | | 5.000%, 11/15/2039 | | | 1,396,813 | | | | 0.1 | |
| 1,101,189 | | | | | 5.000%, 11/15/2039 | | | 1,187,920 | | | | 0.1 | |
| 278,952 | | | | | 5.000%, 11/15/2039 | | | 294,418 | | | | 0.0 | |
| 270,764 | | | | | 5.000%, 04/15/2040 | | | 289,157 | | | | 0.0 | |
| 1,032,182 | | | | | 5.000%, 09/15/2040 | | | 1,095,670 | | | | 0.1 | |
| 1,416,336 | | | | | 5.000%, 07/20/2041 | | | 1,518,551 | | | | 0.2 | |
| 62,036 | | | | | 5.250%, 01/15/2024 | | | 66,660 | | | | 0.0 | |
| 92,323 | | | | | 5.250%, 06/15/2028 | | | 99,614 | | | | 0.0 | |
| 124,945 | | | | | 5.250%, 06/15/2029 | | | 134,806 | | | | 0.0 | |
| 1,475,787 | | | | | 5.250%, 01/20/2036 | | | 1,606,010 | | | | 0.2 | |
| 128,529 | | | | | 5.290%, 07/20/2037 | | | 136,560 | | | | 0.0 | |
| 147,419 | | | | | 5.290%, 08/20/2037 | | | 157,387 | | | | 0.0 | |
| 342,153 | | | | | 5.290%, 08/20/2037 | | | 363,532 | | | | 0.0 | |
| 111,275 | | | | | 5.290%, 09/20/2037 | | | 118,131 | | | | 0.0 | |
| 415,388 | | | | | 5.290%, 09/20/2037 | | | 441,343 | | | | 0.1 | |
| 129,108 | | | | | 5.290%, 01/20/2038 | | | 137,174 | | | | 0.0 | |
| 13,221 | | | | | 5.350%, 01/15/2029 | | | 14,239 | | | | 0.0 | |
| 70,180 | | | | | 5.350%, 01/20/2029 | | | 74,642 | | | | 0.0 | |
| 14,252 | | | | | 5.350%, 02/20/2029 | | | 15,137 | | | | 0.0 | |
| 161,621 | | | | | 5.350%, 04/20/2029 | | | 171,964 | | | | 0.0 | |
| 41,396 | | | | | 5.350%, 06/20/2029 | | | 44,012 | | | | 0.0 | |
| 46,858 | | | | | 5.350%, 08/20/2029 | | | 49,858 | | | | 0.0 | |
| 51,603 | | | | | 5.350%, 10/20/2029 | | | 54,911 | | | | 0.0 | |
| 19,128 | | | | | 5.350%, 11/20/2029 | | | 20,308 | | | | 0.0 | |
| 134,157 | | | | | 5.390%, 05/15/2038 | | | 145,072 | | | | 0.0 | |
| 329,660 | | | | | 5.390%, 08/20/2038 | | | 354,293 | | | | 0.0 | |
| 173,621 | | | | | 5.390%, 09/15/2038 | | | 187,746 | | | | 0.0 | |
| 63,515 | | | | | 5.390%, 08/15/2039 | | | 68,595 | | | | 0.0 | |
| 101,947 | | | | | 5.390%, 02/15/2040 | | | 109,565 | | | | 0.0 | |
| 27,144 | | | | | 5.480%, 09/20/2037 | | | 28,997 | | | | 0.0 | |
| 98,695 | | | | | 5.500%, 08/15/2024 | | | 101,893 | | | | 0.0 | |
| 90,027 | | | | | 5.500%, 08/20/2024 | | | 96,173 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya GNMA Income Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,869 | | | | | 5.500%, 04/20/2029 | | | 1,997 | | | | 0.0 | |
| 418,513 | | | | | 5.500%, 09/15/2029 | | | 458,914 | | | | 0.1 | |
| 199,828 | | | | | 5.500%, 10/15/2029 | | | 218,984 | | | | 0.0 | |
| 59,313 | | | | | 5.500%, 12/20/2032 | | | 65,406 | | | | 0.0 | |
| 206,940 | | | | | 5.500%, 08/20/2033 | | | 228,092 | | | | 0.0 | |
| 75,375 | | | | | 5.500%, 11/20/2033 | | | 76,621 | | | | 0.0 | |
| 58,520 | | | | | 5.500%, 12/20/2033 | | | 64,470 | | | | 0.0 | |
| 74,509 | | | | | 5.500%, 03/20/2034 | | | 75,437 | | | | 0.0 | |
| 287,602 | | | | | 5.500%, 04/20/2034 | | | 302,752 | | | | 0.0 | |
| 348,806 | | | | | 5.500%, 04/20/2034 | | | 384,348 | | | | 0.0 | |
| 96,587 | | | | | 5.500%, 06/20/2034 | | | 98,199 | | | | 0.0 | |
| 197,583 | | | | | 5.500%, 06/20/2034 | | | 211,189 | | | | 0.0 | |
| 111,792 | | | | | 5.500%, 07/20/2034 | | | 119,484 | | | | 0.0 | |
| 86,603 | | | | | 5.500%, 07/20/2034 | | | 92,556 | | | | 0.0 | |
| 120,223 | | | | | 5.500%, 01/20/2035 | | | 123,387 | | | | 0.0 | |
| 315,380 | | | | | 5.500%, 05/15/2035 | | | 343,842 | | | | 0.0 | |
| 95,705 | | | | | 5.500%, 05/20/2035 | | | 102,205 | | | | 0.0 | |
| 81,161 | | | | | 5.500%, 06/20/2035 | | | 86,736 | | | | 0.0 | |
| 588,490 | | | | | 5.500%, 07/15/2035 | | | 643,671 | | | | 0.1 | |
| 516,864 | | | | | 5.500%, 08/15/2035 | | | 566,626 | | | | 0.1 | |
| 239,538 | | | | | 5.500%, 09/20/2035 | | | 256,043 | | | | 0.0 | |
| 170,348 | | | | | 5.500%, 04/15/2036 | | | 185,411 | | | | 0.0 | |
| 77,032 | | | | | 5.500%, 06/20/2036 | | | 83,490 | | | | 0.0 | |
| 14,125 | | | | | 5.500%, 06/20/2038 | | | 14,814 | | | | 0.0 | |
| 34,287 | | | | | 5.500%, 08/20/2038 | | | 35,960 | | | | 0.0 | |
| 51,611 | | | | | 5.500%, 09/20/2038 | | | 54,131 | | | | 0.0 | |
| 7,444 | | | | | 5.500%, 10/20/2038 | | | 7,808 | | | | 0.0 | |
| 89,034 | | | | | 5.500%, 11/20/2038 | | | 93,380 | | | | 0.0 | |
| 7,973 | | | | | 5.500%, 12/20/2038 | | | 8,361 | | | | 0.0 | |
| 96,049 | | | | | 5.500%, 01/15/2039 | | | 104,580 | | | | 0.0 | |
| 6,461 | | | | | 5.500%, 01/20/2039 | | | 6,748 | | | | 0.0 | |
| 174,167 | | | | | 5.500%, 03/20/2039 | | | 181,964 | | | | 0.0 | |
| 31,926 | | | | | 5.500%, 06/15/2039 | | | 34,735 | | | | 0.0 | |
| 18,353 | | | | | 5.500%, 06/20/2039 | | | 19,192 | | | | 0.0 | |
| 59,359 | | | | | 5.500%, 10/20/2039 | | | 64,401 | | | | 0.0 | |
| 279,121 | | | | | 5.500%, 09/15/2040 | | | 303,872 | | | | 0.0 | |
| 76,294 | | | | | 5.740%, 08/20/2037 | | | 82,709 | | | | 0.0 | |
| 139,837 | | | | | 5.740%, 08/20/2037 | | | 151,600 | | | | 0.0 | |
| 91,216 | | | | | 5.740%, 09/20/2037 | | | 98,888 | | | | 0.0 | |
| 372,164 | | | | | 5.740%, 09/20/2037 | | | 403,457 | | | | 0.1 | |
| 277,486 | | | | | 5.740%, 09/20/2037 | | | 300,828 | | | | 0.0 | |
| 446,404 | | | | | 5.740%, 10/20/2037 | | | 486,638 | | | | 0.1 | |
| 107,051 | | | | | 5.740%, 04/20/2038 | | | 116,053 | | | | 0.0 | |
| 189,689 | | | | | 5.750%, 11/15/2024 | | | 196,821 | | | | 0.0 | |
| 977,218 | | | | | 5.750%, 07/15/2029 | | | 1,061,047 | | | | 0.1 | |
| 841,939 | | | | | 5.750%, 08/15/2029 | | | 912,461 | | | | 0.1 | |
| 149,630 | | | | | 5.750%, 11/15/2029 | | | 162,501 | | | | 0.0 | |
| 857,951 | | | | | 5.750%, 11/15/2029 | | | 931,218 | | | | 0.1 | |
| 18,343 | | | | | 5.900%, 03/20/2028 | | | 20,055 | | | | 0.0 | |
| 72,830 | | | | | 5.900%, 05/20/2028 | | | 79,660 | | | | 0.0 | |
| 16,252 | | | | | 5.900%, 08/20/2028 | | | 17,728 | | | | 0.0 | |
| 47,203 | | | | | 5.900%, 09/20/2028 | | | 51,622 | | | | 0.0 | |
| 1,473,446 | | | | | 5.970%, 11/15/2031 | | | 1,489,076 | | | | 0.2 | |
| 47,532 | | | | | 6.000%, 01/20/2024 | | | 49,001 | | | | 0.0 | |
| 132,709 | | | | | 6.000%, 10/15/2025 | | | 147,460 | | | | 0.0 | |
| 259,212 | | | | | 6.000%, 04/15/2026 | | | 276,926 | | | | 0.0 | |
| 49,900 | | | | | 6.000%, 10/20/2027 | | | 54,900 | | | | 0.0 | |
| 172,617 | | | | | 6.000%, 05/15/2029 | | | 183,296 | | | | 0.0 | |
| 197,916 | | | | | 6.000%, 07/15/2029 | | | 218,437 | | | | 0.0 | |
| 106,745 | | | | | 6.000%, 10/20/2034 | | | 120,515 | | | | 0.0 | |
| 237,150 | | | | | 6.000%, 03/15/2037 | | | 264,242 | | | | 0.0 | |
| 4,076 | | | | | 6.000%, 09/20/2037 | | | 4,079 | | | | 0.0 | |
| 15,353 | | | | | 6.000%, 05/20/2038 | | | 16,730 | | | | 0.0 | |
| 177,150 | | | | | 6.000%, 08/20/2038 | | | 189,172 | | | | 0.0 | |
| 28,175 | | | | | 6.000%, 09/20/2038 | | | 30,064 | | | | 0.0 | |
| 85,438 | | | | | 6.000%, 10/20/2038 | | | 91,249 | | | | 0.0 | |
| 229,198 | | | | | 6.000%, 11/15/2038 | | | 255,221 | | | | 0.0 | |
| 241,691 | | | | | 6.000%, 12/15/2038 | | | 269,133 | | | | 0.0 | |
| 171,803 | | | | | 6.000%, 12/15/2038 | | | 191,309 | | | | 0.0 | |
| 540,674 | | | | | 6.000%, 08/15/2039 | | | 602,061 | | | | 0.1 | |
| 452,128 | | | | | 6.000%, 08/15/2039 | | | 506,303 | | | | 0.1 | |
| 7,584 | | | | | 6.250%, 09/15/2020 | | | 7,663 | | | | 0.0 | |
| 118,382 | | | | | 6.490%, 01/15/2028 | | | 132,324 | | | | 0.0 | |
| 38,674 | | | | | 6.500%, 07/20/2029 | | | 43,564 | | | | 0.0 | |
| 55,058 | | | | | 6.500%, 07/20/2032 | | | 56,143 | | | | 0.0 | |
| 228,790 | | | | | 6.500%, 02/15/2034 | | | 245,444 | | | | 0.0 | |
| 1,429 | | | | | 6.500%, 09/20/2034 | | | 1,491 | | | | 0.0 | |
| 14,312 | | | | | 7.500%, 08/20/2027 | | | 16,384 | | | | 0.0 | |
| | | | | | | | | 582,072,441 | | | | 57.1 | |
| | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Obligations | | | | | | | | |
| | | | (Cost $690,264,331) | | | 686,805,139 | | | | 67.4 | |
| | | | | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | | |
| | | | (Cost $1,348,814,188) | | | 1,340,229,142 | | | | 131.6 | |
| | | | | | | | | | | | | | |
SHORT-TERM INVESTMENTS: 5.1% |
| | | | | | U.S. Treasury Bills: 5.1% |
| 31,363,000 | | | | | United States Treasury Bill, 1.530%, 05/10/2018 | | | 31,309,284 | | | | 3.1 | |
| 15,967,000 | | | | | United States Treasury Bill, 1.800%, 06/28/2018 | | | 15,902,270 | | | | 1.5 | |
| 5,299,000 | | | | | United States Treasury Bill, 05/03/2018 | | | 5,291,605 | �� | | | 0.5 | |
| | | | | | | | | 52,503,159 | | | | 5.1 | |
| | | | | | | | | | | | | | |
| | | | Total Short-Term Investments | | | | | | | | |
| | | | (Cost $52,502,141) | | | 52,503,159 | | | | 5.1 | |
| | | | | | | | | | | | | | |
| | | | Total Investments in Securities (Cost $1,401,316,329) | | $ | 1,392,732,301 | | | | 136.7 | |
| | | | Liabilities in Excess of Other Assets | | | (374,128,548 | ) | | | (36.7 | ) |
| | | | Net Assets | | $ | 1,018,603,753 | | | | 100.0 | |
† | Unless otherwise indicated, principal amount is shown in USD. |
(1) | 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. |
(2) | 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. |
(3) | Step Bond. Interest rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Rate shown is the rate in effect as of March 31, 2018. |
(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) | Settlement is on a when-issued or delayed-delivery basis. |
Reference Rate Abbreviations: |
H15T1Y | U.S. Treasury 1-Year Constant Maturity |
US0001M | 1-month LIBOR |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 |
Principal Amount† | | | | | | | Value | | | Percentage of Net Assets | |
CORPORATE BONDS/NOTES: 97.1% | | | | | | | |
| | | | | | Basic Materials: 8.1% | | | | | | | | |
| 2,225,000 | | | (1) | | Alpha 3 BV / Alpha US Bidco, Inc., 6.250%, 02/01/2025 | | | 2,263,937 | | | | 0.4 | |
| 485,000 | | | | | ArcelorMittal, 7.250%, 10/15/2039 | | | 575,937 | | | | 0.1 | |
| 1,635,000 | | | (1) | | Aruba Investments, Inc., 8.750%, 02/15/2023 | | | 1,704,487 | | | | 0.3 | |
| 1,470,000 | | | (1) | | Cascades, Inc., 5.500%, 07/15/2022 | | | 1,486,537 | | | | 0.3 | |
| 1,140,000 | | | | | Chemours Co/The, 5.375%, 05/15/2027 | | | 1,145,700 | | | | 0.2 | |
| 920,000 | | | (1) | | Constellium NV, 5.750%, 05/15/2024 | | | 906,200 | | | | 0.2 | |
| 250,000 | | | (1) | | Constellium NV, 5.875%, 02/15/2026 | | | 246,875 | | | | 0.0 | |
| 1,050,000 | | | (1),(2) | | Constellium NV, 6.625%, 03/01/2025 | | | 1,065,750 | | | | 0.2 | |
| 1,785,000 | | | (1) | | Cornerstone Chemical Co., 6.750%, 08/15/2024 | | | 1,777,771 | | | | 0.3 | |
| 940,000 | | | (1) | | Ferroglobe PLC / Globe Specialty Metals, Inc., 9.375%, 03/01/2022 | | | 979,950 | | | | 0.2 | |
| 985,000 | | | (1) | | First Quantum Minerals Ltd., 6.500%, 03/01/2024 | | | 935,750 | | | | 0.2 | |
| 1,900,000 | | | (2) | | Freeport-McMoRan, Inc., 4.550%, 11/14/2024 | | | 1,876,250 | | | | 0.3 | |
| 2,000,000 | | | | | Freeport-McMoRan, Inc., 5.450%, 03/15/2043 | | | 1,849,400 | | | | 0.3 | |
| 1,450,000 | | | | | Hexion, Inc., 6.625%, 04/15/2020 | | | 1,359,375 | | | | 0.2 | |
| 975,000 | | | (1) | | Hexion, Inc., 10.375%, 02/01/2022 | | | 948,188 | | | | 0.2 | |
| 955,000 | | | (1) | | Hexion, Inc., 13.750%, 02/01/2022 | | | 816,525 | | | | 0.1 | |
| 550,000 | | | | | Huntsman International LLC, 4.875%, 11/15/2020 | | | 562,375 | | | | 0.1 | |
| 1,080,000 | | | | | Huntsman International LLC, 5.125%, 11/15/2022 | | | 1,119,150 | | | | 0.2 | |
| 1,925,000 | | | (1) | | IAMGOLD Corp., 7.000%, 04/15/2025 | | | 1,973,125 | | | | 0.4 | |
| 1,750,000 | | | (1),(2) | | INEOS Group Holdings SA, 5.625%, 08/01/2024 | | | 1,774,063 | | | | 0.3 | |
| 2,100,000 | | | (1) | | Kraton Polymers LLC / Kraton Polymers Capital Corp., 10.500%, 04/15/2023 | | | 2,341,500 | | | | 0.4 | |
| 2,000,000 | | | (3),(4) | | Momentive Performance Materials, Inc. Escrow, 8.875%, 10/15/2020 | | | – | | | | – | |
| 1,500,000 | | | | | Momentive Performance Materials, Inc., 3.880%, 10/24/2021 | | | 1,576,875 | | | | 0.3 | |
| 1,800,000 | | | | | Olin Corp., 5.125%, 09/15/2027 | | | 1,779,750 | | | | 0.3 | |
| 2,320,000 | | | (1) | | Rayonier AM Products, Inc., 5.500%, 06/01/2024 | | | 2,285,200 | | | | 0.4 | |
| 675,000 | | | | | Steel Dynamics, Inc., 5.125%, 10/01/2021 | | | 687,623 | | | | 0.1 | |
| 1,425,000 | | | | | Steel Dynamics, Inc., 5.500%, 10/01/2024 | | | 1,473,023 | | | | 0.3 | |
| 1,115,000 | | | | | Teck Resources Ltd., 4.750%, 01/15/2022 | | | 1,134,513 | | | | 0.2 | |
| 2,150,000 | | | | | Teck Resources Ltd., 5.200%, 03/01/2042 | | | 2,021,000 | | | | 0.4 | |
| 1,700,000 | | | (1) | | Tronox Finance LLC, 7.500%, 03/15/2022 | | | 1,764,799 | | | | 0.3 | |
| 335,000 | | | (1) | | Tronox Finance PLC, 5.750%, 10/01/2025 | | | 326,625 | | | | 0.1 | |
| 1,900,000 | | | (1) | | Tronox, Inc., 6.500%, 04/15/2026 | | | 1,904,750 | | | | 0.3 | |
| 1,240,000 | | | (2) | | United States Steel Corp., 6.250%, 03/15/2026 | | | 1,238,450 | | | | 0.2 | |
| 330,000 | | | | | Valvoline, Inc., 4.375%, 08/15/2025 | | | 320,925 | | | | 0.1 | |
| 1,120,000 | | | | | Valvoline, Inc., 5.500%, 07/15/2024 | | | 1,152,200 | | | | 0.2 | |
| | | | | | | | | 45,374,578 | | | | 8.1 | |
| | | | | | | | | | | | | | |
| | | | | | Communications: 14.8% | | | | | | | | |
| 1,860,000 | | | (1),(2) | | Acosta, Inc., 7.750%, 10/01/2022 | | | 1,181,100 | | | | 0.2 | |
| 1,000,000 | | | (1),(2) | | Altice Finco SA, 8.125%, 01/15/2024 | | | 1,035,000 | | | | 0.2 | |
| 2,925,000 | | | (1) | | Altice France SA/France, 6.250%, 05/15/2024 | | | 2,767,781 | | | | 0.5 | |
| 2,000,000 | | | (1),(2) | | Altice Luxembourg SA, 7.625%, 02/15/2025 | | | 1,717,500 | | | | 0.3 | |
| 2,170,000 | | | (1) | | Altice Luxembourg SA, 7.750%, 05/15/2022 | | | 2,020,812 | | | | 0.4 | |
| 1,845,000 | | | (1) | | Altice US Finance I Corp., 5.500%, 05/15/2026 | | | 1,803,487 | | | | 0.3 | |
| 1,985,000 | | | | | AMC Networks, Inc., 4.750%, 08/01/2025 | | | 1,917,768 | | | | 0.3 | |
| 1,215,000 | | | (1) | | Block Communications, Inc., 6.875%, 02/15/2025 | | | 1,227,855 | | | | 0.2 | |
| 1,040,000 | | | | | Cablevision Systems Corp., 5.875%, 09/15/2022 | | | 1,034,488 | | | | 0.2 | |
| 2,280,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | | | 2,170,332 | | | | 0.4 | |
| 1,335,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | | | 1,258,237 | | | | 0.2 | |
| 1,120,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.500%, 05/01/2026 | | | 1,099,000 | | | | 0.2 | |
| 2,895,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.750%, 02/15/2026 | | | 2,887,791 | | | | 0.5 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,500,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.875%, 04/01/2024 | | | 1,530,000 | | | | 0.3 | |
| 1,550,000 | | | | | CenturyLink, Inc., 5.625%, 04/01/2020 | | | 1,567,438 | | | | 0.3 | |
| 1,000,000 | | | | | CenturyLink, Inc., 5.800%, 03/15/2022 | | | 981,250 | | | | 0.2 | |
| 955,000 | | | (1) | | Cequel Communications Holdings I LLC / Cequel Capital Corp., 5.125%, 12/15/2021 | | | 956,194 | | | | 0.2 | |
| 600,000 | | | (1) | | Cequel Communications Holdings I LLC / Cequel Capital Corp., 7.500%, 04/01/2028 | | | 616,500 | | | | 0.1 | |
| 1,740,000 | | | (1) | | CommScope Tech Finance LLC, 6.000%, 06/15/2025 | | | 1,819,170 | �� | | | 0.3 | |
| 2,585,000 | | | | | CSC Holdings LLC, 5.250%, 06/01/2024 | | | 2,465,444 | | | | 0.4 | |
| 1,200,000 | | | (1) | | CSC Holdings LLC, 5.375%, 02/01/2028 | | | 1,136,508 | | | | 0.2 | |
| 1,375,000 | | | (1) | | CSC Holdings LLC, 6.625%, 10/15/2025 | | | 1,423,125 | | | | 0.2 | |
| 570,000 | | | | | DISH DBS Corp., 5.000%, 03/15/2023 | | | 516,563 | | | | 0.1 | |
| 1,000,000 | | | | | DISH DBS Corp., 5.875%, 07/15/2022 | | | 958,750 | | | | 0.2 | |
| 2,175,000 | | | | | DISH DBS Corp., 5.875%, 11/15/2024 | | | 1,946,625 | | | | 0.3 | |
| 1,240,000 | | | (1),(2) | | Frontier Communications Corp., 8.500%, 04/01/2026 | | | 1,205,900 | | | | 0.2 | |
| 1,685,000 | | | (1) | | Gray Television, Inc., 5.125%, 10/15/2024 | | | 1,634,450 | | | | 0.3 | |
| 2,500,000 | | | | | Intelsat Jackson Holdings SA, 5.500%, 08/01/2023 | | | 2,031,250 | | | | 0.4 | |
| 1,195,000 | | | | | Level 3 Financing, Inc., 5.125%, 05/01/2023 | | | 1,175,581 | | | | 0.2 | |
| 1,500,000 | | | | | Level 3 Financing, Inc., 5.250%, 03/15/2026 | | | 1,417,500 | | | | 0.2 | |
| 1,800,000 | | | | | Level 3 Financing, Inc., 5.375%, 01/15/2024 | | | 1,758,384 | | | | 0.3 | |
| 780,000 | | | | | LIN Television Corp., 5.875%, 11/15/2022 | | | 806,325 | | | | 0.1 | |
| 1,000,000 | | | (1) | | Midcontinent Communications / Midcontinent Finance Corp., 6.875%, 08/15/2023 | | | 1,056,250 | | | | 0.2 | |
| 1,600,000 | | | (1) | | Nexstar Broadcasting, Inc., 5.625%, 08/01/2024 | | | 1,571,520 | | | | 0.3 | |
| 2,230,000 | | | (1) | | Plantronics, Inc., 5.500%, 05/31/2023 | | | 2,216,174 | | | | 0.4 | |
| 2,130,000 | | | (1) | | Salem Media Group, Inc., 6.750%, 06/01/2024 | | | 2,050,125 | | | | 0.4 | |
| 1,185,000 | | | (1),(2) | | Sinclair Television Group, Inc., 5.125%, 02/15/2027 | | | 1,105,013 | | | | 0.2 | |
| 1,520,000 | | | | | Sinclair Television Group, Inc., 6.125%, 10/01/2022 | | | 1,563,700 | | | | 0.3 | |
| 2,250,000 | | | (1) | | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | | | 2,126,250 | | | | 0.4 | |
| 1,160,000 | | | (1) | | Sirius XM Radio, Inc., 6.000%, 07/15/2024 | | | 1,197,700 | | | | 0.2 | |
| 1,000,000 | | | | | Sprint Communications, Inc., 6.000%, 11/15/2022 | | | 983,750 | | | | 0.2 | |
| 5,110,000 | | | | | Sprint Corp., 7.125%, 06/15/2024 | | | 4,995,025 | | | | 0.9 | |
| 3,170,000 | | | | | Sprint Corp., 7.250%, 09/15/2021 | | | 3,284,913 | | | | 0.6 | |
| 2,175,000 | | | | | Sprint Corp., 7.625%, 03/01/2026 | | | 2,128,781 | | | | 0.4 | |
| 1,375,000 | | | | | Telecom Italia Capital SA, 6.000%, 09/30/2034 | | | 1,433,025 | | | | 0.2 | |
| 1,650,000 | | | | | Telecom Italia Capital SA, 6.375%, 11/15/2033 | | | 1,798,500 | | | | 0.3 | |
| 1,320,000 | | | (1) | | Telesat Canada / Telesat LLC, 8.875%, 11/15/2024 | | | 1,452,000 | | | | 0.2 | |
| 2,000,000 | | | | | T-Mobile USA, Inc., 5.375%, 04/15/2027 | | | 2,025,000 | | | | 0.4 | |
| 605,000 | | | | | T-Mobile USA, Inc., 4.500%, 02/01/2026 | | | 581,556 | | | | 0.1 | |
| 150,000 | | | | | T-Mobile USA, Inc., 5.125%, 04/15/2025 | | | 151,125 | | | | 0.0 | |
| 1,045,000 | | | (1) | | Zayo Group LLC / Zayo Capital, Inc., 5.750%, 01/15/2027 | | | 1,022,794 | | | | 0.2 | |
| 2,140,000 | | | | | Zayo Group LLC / Zayo Capital, Inc., 6.000%, 04/01/2023 | | | 2,209,550 | | | | 0.4 | |
| 500,000 | | | | | Zayo Group LLC / Zayo Capital, Inc., 6.375%, 05/15/2025 | | | 519,375 | | | | 0.1 | |
| | | | | | | | | 83,540,234 | | | | 14.8 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Cyclical: 16.6% | | | | | | | | |
| 2,490,000 | | | (1) | | 1011778 BC ULC / New Red Finance, Inc., 5.000%, 10/15/2025 | | | 2,383,428 | | | | 0.4 | |
| 750,000 | | | (2) | | AMC Entertainment Holdings, Inc., 5.750%, 06/15/2025 | | | 741,562 | | | | 0.1 | |
| 1,775,000 | | | (2) | | AMC Entertainment Holdings, Inc., 5.875%, 11/15/2026 | | | 1,748,375 | | | | 0.3 | |
| 2,050,000 | | | (1) | | American Tire Distributors, Inc., 10.250%, 03/01/2022 | | | 2,103,812 | | | | 0.4 | |
| 2,000,000 | | | | | Asbury Automotive Group, Inc., 6.000%, 12/15/2024 | | | 2,045,000 | | | | 0.4 | |
| 1,270,000 | | | (1) | | Ashton Woods USA LLC / Ashton Woods Finance Co., 6.750%, 08/01/2025 | | | 1,244,600 | | | | 0.2 | |
| 1,231,000 | | | (1) | | Ashton Woods USA LLC / Ashton Woods Finance Co., 6.875%, 02/15/2021 | | | 1,240,232 | | | | 0.2 | |
| 2,130,000 | | | | | AV Homes, Inc., 6.625%, 05/15/2022 | | | 2,178,394 | | | | 0.4 | |
| 890,000 | | | (1) | | Boyne USA, Inc., 7.250%, 05/01/2025 | | | 917,812 | | | | 0.2 | |
| 2,000,000 | | | | | Caleres, Inc., 6.250%, 08/15/2023 | | | 2,082,500 | | | | 0.4 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,300,000 | | | (1) | | Carmike Cinemas, Inc., 6.000%, 06/15/2023 | | | 1,358,500 | | | | 0.2 | |
| 1,940,000 | | | (1) | | CCM Merger, Inc., 6.000%, 03/15/2022 | | | 1,964,250 | | | | 0.3 | |
| 2,115,000 | | | | | Cedar Fair L.P. / Canada's Wonderland Co. / Magnum Management Corp., 5.375%, 06/01/2024 | | | 2,154,656 | | | | 0.4 | |
| 2,980,000 | | | | | Century Communities, Inc., 5.875%, 07/15/2025 | | | 2,845,900 | | | | 0.5 | |
| 1,975,000 | | | (1) | | Cooper-Standard Automotive, Inc., 5.625%, 11/15/2026 | | | 1,975,000 | | | | 0.3 | |
| 2,985,000 | | | (1) | | CRC Escrow Issuer LLC / CRC Finco, Inc., 5.250%, 10/15/2025 | | | 2,869,122 | | | | 0.5 | |
| 1,960,000 | | | | | Dana, Inc., 5.500%, 12/15/2024 | | | 1,999,200 | | | | 0.4 | |
| 1,080,000 | | | (1) | | DBP Holding Corp., 7.750%, 10/15/2020 | | | 567,000 | | | | 0.1 | |
| 2,095,000 | | | (1) | | EMI Music Publishing Group North America Holdings, Inc., 7.625%, 06/15/2024 | | | 2,273,075 | | | | 0.4 | |
| 520,000 | | | | | GLP Capital L.P. / GLP Financing II, Inc., 4.375%, 04/15/2021 | | | 522,600 | | | | 0.1 | |
| 1,040,000 | | | | | GLP Capital L.P. / GLP Financing II, Inc., 5.375%, 04/15/2026 | | | 1,058,200 | | | | 0.2 | |
| 2,525,000 | | | (1) | | Golden Nugget, Inc., 6.750%, 10/15/2024 | | | 2,550,250 | | | | 0.5 | |
| 1,970,000 | | | | | Goodyear Tire & Rubber Co., 5.125%, 11/15/2023 | | | 1,987,237 | | | | 0.4 | |
| 815,000 | | | | | H&E Equipment Services, Inc., 5.625%, 09/01/2025 | | | 824,169 | | | | 0.1 | |
| 2,190,000 | | | (1) | | Hot Topic, Inc., 9.250%, 06/15/2021 | | | 2,179,050 | | | | 0.4 | |
| 900,000 | | | (1) | | International Game Technology PLC, 6.250%, 02/15/2022 | | | 947,250 | | | | 0.2 | |
| 865,000 | | | (1) | | International Game Technology PLC, 6.500%, 02/15/2025 | | | 930,956 | | | | 0.2 | |
| 2,070,000 | | | (1) | | IRB Holding Corp., 6.750%, 02/15/2026 | | | 2,033,982 | | | | 0.4 | |
| 1,040,000 | | | (1) | | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC, 5.000%, 06/01/2024 | | | 1,036,100 | | | | 0.2 | |
| 1,040,000 | | | (1) | | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC, 5.250%, 06/01/2026 | | | 1,038,700 | | | | 0.2 | |
| 2,145,000 | | | | | L Brands, Inc., 6.750%, 07/01/2036 | | | 2,069,925 | | | | 0.4 | |
| 1,700,000 | | | (1) | | Lennar Corp., 5.250%, 06/01/2026 | | | 1,687,250 | | | | 0.3 | |
| 600,000 | | | (1) | | Lennar Corp., 8.375%, 01/15/2021 | | | 667,500 | | | | 0.1 | |
| 600,000 | | | (1) | | Lennar Corp., 5.375%, 10/01/2022 | | | 619,500 | | | | 0.1 | |
| 1,330,000 | | | | | M/I Homes, Inc., 5.625%, 08/01/2025 | | | 1,301,339 | | | | 0.2 | |
| 940,000 | | | | | M/I Homes, Inc., 6.750%, 01/15/2021 | | | 971,725 | | | | 0.2 | |
| 1,750,000 | | | (2) | | Men's Wearhouse, Inc./The, 7.000%, 07/01/2022 | | | 1,806,875 | | | | 0.3 | |
| 1,225,000 | | | | | Meritage Homes Corp., 5.125%, 06/06/2027 | | | 1,160,688 | | | | 0.2 | |
| 1,406,000 | | | | | Meritage Homes Corp., 7.000%, 04/01/2022 | | | 1,543,085 | | | | 0.3 | |
| 2,000,000 | | | | | MGM Resorts International, 6.000%, 03/15/2023 | | | 2,105,000 | | | | 0.4 | |
| 1,000,000 | | | | | MGM Resorts International, 7.750%, 03/15/2022 | | | 1,116,250 | | | | 0.2 | |
| 1,800,000 | | | (1) | | Navistar International Corp., 6.625%, 11/01/2025 | | | 1,804,500 | | | | 0.3 | |
| 1,680,000 | | | (1),(2) | | Neiman Marcus Group Ltd., Inc., 8.000%, 10/15/2021 | | | 1,071,000 | | | | 0.2 | |
| 1,833,125 | | | (1),(2),(5) | | Neiman Marcus Group Ltd., Inc., 8.750% (PIK Rate 9.500%, Cash Rate 8.750%), 10/15/2021 | | | 1,177,783 | | | | 0.2 | |
| 2,270,000 | | | (1) | | Penn National Gaming, Inc., 5.625%, 01/15/2027 | | | 2,184,875 | | | | 0.4 | |
| 240,000 | | | (1) | | PetSmart, Inc., 5.875%, 06/01/2025 | | | 174,600 | | | | 0.0 | |
| 3,435,000 | | | (1) | | PetSmart, Inc., 7.125%, 03/15/2023 | | | 1,966,537 | | | | 0.3 | |
| 2,085,000 | | | (1) | | Rite Aid Corp., 6.125%, 04/01/2023 | | | 2,111,063 | | | | 0.4 | |
| 240,000 | | | (1) | | Rite Aid Corp., 6.875%, 12/15/2028 | | | 195,900 | | | | 0.0 | |
| 2,440,000 | | | (1) | | Scientific Games International, Inc., 5.000%, 10/15/2025 | | | 2,379,000 | | | | 0.4 | |
| 1,180,000 | | | | | Scientific Games International, Inc., 6.625%, 05/15/2021 | | | 1,213,925 | | | | 0.2 | |
| 1,685,000 | | | | | Scientific Games International, Inc., 10.000%, 12/01/2022 | | | 1,820,853 | | | | 0.3 | |
| 1,705,000 | | | (1) | | Silversea Cruise Finance Ltd., 7.250%, 02/01/2025 | | | 1,811,563 | | | | 0.3 | |
| 790,000 | | | (1) | | Six Flags Entertainment Corp., 4.875%, 07/31/2024 | | | 771,238 | | | | 0.1 | |
| 1,585,000 | | | (1) | | Six Flags Entertainment Corp., 5.500%, 04/15/2027 | | | 1,573,113 | | | | 0.3 | |
| 2,096,000 | | | | | Springs Industries, Inc., 6.250%, 06/01/2021 | | | 2,130,060 | | | | 0.4 | |
| 2,055,000 | | | (1) | | Station Casinos LLC, 5.000%, 10/01/2025 | | | 1,957,388 | | | | 0.3 | |
| 1,450,000 | | | (1),(4) | | Tops Holding LLC / Tops Markets II Corp., 8.000%, 06/15/2022 | | | 681,500 | | | | 0.1 | |
| 2,115,000 | | | (1) | | Viking Cruises Ltd., 5.875%, 09/15/2027 | | | 2,009,250 | | | | 0.4 | |
| 657,000 | | | (1) | | WMG Acquisition Corp., 5.625%, 04/15/2022 | | | 674,246 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,120,000 | | | (1) | | Wolverine World Wide, Inc., 5.000%, 09/01/2026 | | | 1,094,800 | | | | 0.2 | |
| | | | | | | | | 93,653,243 | | | | 16.6 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Non-cyclical: 18.6% | | | | | | | | |
| 1,160,000 | | | | | Acadia Healthcare Co., Inc., 5.125%, 07/01/2022 | | | 1,165,800 | | | | 0.2 | |
| 1,000,000 | | | | | Acadia Healthcare Co., Inc., 5.625%, 02/15/2023 | | | 1,017,500 | | | | 0.2 | |
| 110,000 | | | | | Acadia Healthcare Co., Inc., 6.500%, 03/01/2024 | | | 114,950 | | | | 0.0 | |
| 2,115,000 | | | | | Albertsons Cos LLC / Safeway, Inc. / New Albertson's, Inc. / Albertson's LLC, 6.625%, 06/15/2024 | | | 1,906,144 | | | | 0.3 | |
| 1,750,000 | | | (1) | | APTIM Corp., 7.750%, 06/15/2025 | | | 1,518,125 | | | | 0.3 | |
| 1,446,650 | | | (1),(4),(5) | | BI-LO LLC / BI-LO Finance Corp., 8.625% (PIK Rate 9.375%, Cash Rate 8.625%), 09/15/2018 | | | 828,207 | | | | 0.1 | |
| 1,335,000 | | | (1),(2),(4) | | BI-LO LLC / BI-LO Finance Corp., 9.250%, 02/15/2019 | | | 1,340,006 | | | | 0.2 | |
| 1,245,000 | | | (1) | | Cardtronics, Inc. / Cardtronics USA, Inc., 5.500%, 05/01/2025 | | | 1,179,637 | | | | 0.2 | |
| 515,000 | | | | | Centene Corp., 4.750%, 01/15/2025 | | | 503,412 | | | | 0.1 | |
| 1,775,000 | | | | | Centene Corp., 5.625%, 02/15/2021 | | | 1,828,250 | | | | 0.3 | |
| 1,180,000 | | | | | Centene Corp., 6.125%, 02/15/2024 | | | 1,230,976 | | | | 0.2 | |
| 505,000 | | | | | Central Garden & Pet Co., 5.125%, 02/01/2028 | | | 481,012 | | | | 0.1 | |
| 1,835,000 | | | | | Central Garden & Pet Co., 6.125%, 11/15/2023 | | | 1,924,456 | | | | 0.3 | |
| 1,830,000 | | | | | CHS/Community Health Systems, Inc., 6.250%, 03/31/2023 | | | 1,695,037 | | | | 0.3 | |
| 1,315,000 | | | (2) | | CHS/Community Health Systems, Inc., 7.125%, 07/15/2020 | | | 1,076,656 | | | | 0.2 | |
| 1,045,000 | | | (2) | | CHS/Community Health Systems, Inc., 8.000%, 11/15/2019 | | | 945,725 | | | | 0.2 | |
| 1,455,000 | | | (1) | | Cott Holdings, Inc., 5.500%, 04/01/2025 | | | 1,440,450 | | | | 0.3 | |
| 1,340,000 | | | | | DaVita, Inc., 5.125%, 07/15/2024 | | | 1,310,687 | | | | 0.2 | |
| 1,275,000 | | | (1),(5) | | Eagle Holding CO II LLC, 7.625% (PIK Rate 8.375%, Cash Rate 7.625%), 05/15/2022 | | | 1,287,750 | | | | 0.2 | |
| 450,000 | | | (1),(2) | | Endo Dac / Endo Finance LLC / Endo Finco, Inc., 5.875%, 10/15/2024 | | | 445,500 | | | | 0.1 | |
| 1,190,000 | | | (1) | | Endo Finance LLC / Endo Finco, Inc., 5.375%, 01/15/2023 | | | 907,375 | | | | 0.2 | |
| 840,000 | | | (1) | | Envision Healthcare Corp., 5.125%, 07/01/2022 | | | 840,000 | | | | 0.1 | |
| 1,805,000 | | | | | Envision Healthcare Corp., 5.625%, 07/15/2022 | | | 1,822,147 | | | | 0.3 | |
| 3,120,000 | | | | | HCA Healthcare, Inc., 6.250%, 02/15/2021 | | | 3,283,800 | | | | 0.6 | |
| 4,315,000 | | | | | HCA, Inc., 5.375%, 02/01/2025 | | | 4,336,575 | | | | 0.8 | |
| 1,350,000 | | | | | HCA, Inc., 5.500%, 06/15/2047 | | | 1,307,813 | | | | 0.2 | |
| 1,800,000 | | | | | HCA, Inc., 7.500%, 02/15/2022 | | | 1,982,250 | | | | 0.4 | |
| 416,000 | | | (1) | | Herc Rentals, Inc., 7.500%, 06/01/2022 | | | 446,160 | | | | 0.1 | |
| 454,000 | | | (1) | | Herc Rentals, Inc., 7.750%, 06/01/2024 | | | 493,725 | | | | 0.1 | |
| 575,000 | | | (1) | | Hertz Corp./The, 7.625%, 06/01/2022 | | | 582,906 | | | | 0.1 | |
| 1,535,000 | | | (1),(2) | | Hertz Corp., 5.500%, 10/15/2024 | | | 1,304,750 | | | | 0.2 | |
| 1,000,000 | | | (2) | | Hertz Corp., 7.375%, 01/15/2021 | | | 996,250 | | | | 0.2 | |
| 2,305,000 | | | (1) | | Hill-Rom Holdings, Inc., 5.750%, 09/01/2023 | | | 2,397,200 | | | | 0.4 | |
| 2,095,000 | | | (1) | | Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 6.375%, 08/01/2023 | | | 2,123,806 | | | | 0.4 | |
| 1,150,000 | | | (1) | | JBS USA LLC/JBS USA Finance, Inc., 7.250%, 06/01/2021 | | | 1,165,813 | | | | 0.2 | |
| 830,000 | | | (1) | | JBS USA LUX SA / JBS USA Finance, Inc., 5.750%, 06/15/2025 | | | 778,125 | | | | 0.1 | |
| 575,000 | | | (1) | | JBS USA LUX SA / JBS USA Finance, Inc., 5.875%, 07/15/2024 | | | 562,954 | | | | 0.1 | |
| 1,335,000 | | | (1) | | JBS USA LUX SA / JBS USA Finance, Inc., 6.750%, 02/15/2028 | | | 1,283,269 | | | | 0.2 | |
| 1,960,000 | | | (1) | | Live Nation Entertainment, Inc., 5.375%, 06/15/2022 | | | 2,009,000 | | | | 0.4 | |
| 2,080,000 | | | (1) | | Midas Intermediate Holdco II LLC / Midas Intermediate Holdco II Finance, Inc., 7.875%, 10/01/2022 | | | 2,095,600 | | | | 0.4 | |
| 1,815,000 | | | | | Molina Healthcare, Inc., 5.375%, 11/15/2022 | | | 1,801,388 | | | | 0.3 | |
| 2,900,000 | | | (1) | | MPH Acquisition Holdings LLC, 7.125%, 06/01/2024 | | | 3,001,500 | | | | 0.5 | |
| 420,000 | | | (1) | | Pilgrim's Pride Corp., 5.750%, 03/15/2025 | | | 408,975 | | | | 0.1 | |
| 1,200,000 | | | (1) | | Pilgrim's Pride Corp., 5.875%, 09/30/2027 | | | 1,131,000 | | | | 0.2 | |
| 1,965,000 | | | | | Pinnacle Foods Finance LLC / Pinnacle Foods Finance Corp., 5.875%, 01/15/2024 | | | 2,043,600 | | | | 0.4 | |
| 580,000 | | | (1),(5) | | Polaris Intermediate Corp., 8.500% (PIK Rate 8.500%, Cash Rate 0.000%), 12/01/2022 | | | 593,056 | | | | 0.1 | |
| 600,000 | | | (1) | | Post Holdings, Inc., 5.000%, 08/15/2026 | | | 571,500 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,975,000 | | | (1) | | Post Holdings, Inc., 5.625%, 01/15/2028 | | | 1,893,531 | | | | 0.3 | |
| 1,150,000 | | | (1) | | Post Holdings, Inc., 8.000%, 07/15/2025 | | | 1,295,188 | | | | 0.2 | |
| 1,960,000 | | | (2) | | Revlon Consumer Products Corp., 6.250%, 08/01/2024 | | | 1,217,650 | | | | 0.2 | |
| 420,000 | | | | | ServiceMaster Co. LLC, 7.450%, 08/15/2027 | | | 454,650 | | | | 0.1 | |
| 1,355,000 | | | | | Spectrum Brands, Inc., 5.750%, 07/15/2025 | | | 1,388,875 | | | | 0.2 | |
| 2,040,000 | | | (1) | | Sotera Health Holdings LLC, 6.500%, 05/15/2023 | | | 2,060,400 | | | | 0.4 | |
| 1,230,000 | | | (1),(5) | | Sotera Health Topco, Inc., 8.125% (PIK Rate 8.875%, Cash Rate 8.125%), 11/01/2021 | | | 1,239,225 | | | | 0.2 | |
| 1,880,000 | | | | | Teleflex, Inc., 5.250%, 06/15/2024 | | | 1,931,700 | | | | 0.3 | |
| 1,145,000 | | | (1) | | Tenet Healthcare Corp., 5.125%, 05/01/2025 | | | 1,104,925 | | | | 0.2 | |
| 1,975,000 | | | | | Tenet Healthcare Corp., 6.750%, 02/01/2020 | | | 2,041,656 | | | | 0.4 | |
| 2,860,000 | | | (2) | | Tenet Healthcare Corp., 6.750%, 06/15/2023 | | | 2,809,950 | | | | 0.5 | |
| 1,000,000 | | | | | Tenet Healthcare Corp., 8.125%, 04/01/2022 | | | 1,046,250 | | | | 0.2 | |
| 730,000 | | | (1) | | Teva Pharmaceutical Finance Netherlands III BV, 6.000%, 04/15/2024 | | | 709,525 | | | | 0.1 | |
| 500,000 | | | | | United Rentals North America, Inc., 5.500%, 05/15/2027 | | | 505,000 | | | | 0.1 | |
| 900,000 | | | | | United Rentals North America, Inc., 4.625%, 10/15/2025 | | | 877,500 | | | | 0.2 | |
| 1,170,000 | | | | | United Rentals North America, Inc., 4.875%, 01/15/2028 | | | 1,131,975 | | | | 0.2 | |
| 1,575,000 | | | (1) | | US Foods, Inc., 5.875%, 06/15/2024 | | | 1,618,313 | | | | 0.3 | |
| 1,750,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 5.500%, 03/01/2023 | | | 1,537,813 | | | | 0.3 | |
| 1,450,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 5.500%, 11/01/2025 | | | 1,417,013 | | | | 0.3 | |
| 780,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 6.125%, 04/15/2025 | | | 676,065 | | | | 0.1 | |
| 4,315,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 6.750%, 08/15/2021 | | | 4,341,969 | | | | 0.8 | |
| 1,135,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 7.000%, 03/15/2024 | | | 1,187,494 | | | | 0.2 | |
| 590,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 9.000%, 12/15/2025 | | | 588,525 | | | | 0.1 | |
| 2,020,000 | | | (1) | | Valeant Pharmaceuticals International, 7.250%, 07/15/2022 | | | 2,027,575 | | | | 0.4 | |
| 895,000 | | | (1) | | Valeant Pharmaceuticals International, 9.250%, 04/01/2026 | | | 893,881 | | | | 0.2 | |
| 2,575,000 | | | (1) | | Vizient, Inc., 10.375%, 03/01/2024 | | | 2,864,688 | | | | 0.5 | |
| 2,235,000 | | | (1) | | West Street Merger Sub, Inc., 6.375%, 09/01/2025 | | | 2,140,013 | | | | 0.4 | |
| | | | | | | | | 104,512,166 | | | | 18.6 | |
| | | | | | | | | | | | | | |
| | | | | | Energy: 15.3% | | | | | | | | |
| 2,000,000 | | | | | Antero Resources Corp., 5.125%, 12/01/2022 | | | 2,025,000 | | | | 0.4 | |
| 900,000 | | | | | Antero Resources Corp., 5.000%, 03/01/2025 | | | 906,750 | | | | 0.2 | |
| 2,950,000 | | | (1) | | California Resources Corp., 8.000%, 12/15/2022 | | | 2,326,812 | | | | 0.4 | |
| 1,250,000 | | | (2) | | Calumet Specialty Products Partners L.P. / Calumet Finance Corp., 7.750%, 04/15/2023 | | | 1,240,625 | | | | 0.2 | |
| 1,680,000 | | | (1) | | Centennial Resource Production LLC, 5.375%, 01/15/2026 | | | 1,652,700 | | | | 0.3 | |
| 2,205,000 | | | | | Cheniere Corpus Christi Holdings LLC, 5.125%, 06/30/2027 | | | 2,196,731 | | | | 0.4 | |
| 1,235,000 | | | | | Cheniere Corpus Christi Holdings LLC, 5.875%, 03/31/2025 | | | 1,296,750 | | | | 0.2 | |
| 700,000 | | | | | Chesapeake Energy Corp., 6.625%, 08/15/2020 | | | 724,500 | | | | 0.1 | |
| 2,295,000 | | | (1),(2) | | Chesapeake Energy Corp., 8.000%, 01/15/2025 | | | 2,226,150 | | | | 0.4 | |
| 1,665,000 | | | (1) | | Continental Resources, Inc./OK, 4.375%, 01/15/2028 | | | 1,625,456 | | | | 0.3 | |
| 1,400,000 | | | | | Continental Resources, Inc./OK, 4.500%, 04/15/2023 | | | 1,419,250 | | | | 0.3 | |
| 1,500,000 | | | | | Continental Resources, Inc./OK, 5.000%, 09/15/2022 | | | 1,524,375 | | | | 0.3 | |
| 2,105,000 | | | (1) | | Covey Park Energy LLC / Covey Park Finance Corp., 7.500%, 05/15/2025 | | | 2,105,000 | | | | 0.4 | |
| 1,080,000 | | | | | Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp., 5.750%, 04/01/2025 | | | 1,074,600 | | | | 0.2 | |
| 1,000,000 | | | | | Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp., 6.250%, 04/01/2023 | | | 1,012,500 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 2,320,000 | | | (1) | | Delek Logistics Partners L.P., 6.750%, 05/15/2025 | | | 2,354,800 | | | | 0.4 | |
| 1,600,000 | | | | | Diamond Offshore Drilling, Inc., 4.875%, 11/01/2043 | | | 1,152,000 | | | | 0.2 | |
| 1,485,000 | | | | | Diamondback Energy, Inc., 4.750%, 11/01/2024 | | | 1,473,862 | | | | 0.3 | |
| 415,000 | | | (1) | | Diamondback Energy, Inc., 5.375%, 05/31/2025 | | | 421,951 | | | | 0.1 | |
| 2,045,000 | | | | | Eclipse Resources Corp., 8.875%, 07/15/2023 | | | 1,940,194 | | | | 0.3 | |
| 840,000 | | | (1) | | Endeavor Energy Resources L.P. / EER Finance, Inc., 5.500%, 01/30/2026 | | | 837,900 | | | | 0.2 | |
| 1,260,000 | | | (1) | | Endeavor Energy Resources L.P. / EER Finance, Inc., 5.750%, 01/30/2028 | | | 1,260,000 | | | | 0.2 | |
| 1,750,000 | | | (2) | | Ensco PLC, 5.200%, 03/15/2025 | | | 1,432,812 | | | | 0.3 | |
| 800,000 | | | | | Ensco PLC, 5.750%, 10/01/2044 | | | 550,000 | | | | 0.1 | |
| 840,000 | | | | | Ensco PLC, 7.750%, 02/01/2026 | | | 772,800 | | | | 0.1 | |
| 1,470,000 | | | | | Enviva Partners L.P. / Enviva Partners Finance Corp., 8.500%, 11/01/2021 | | | 1,560,037 | | | | 0.3 | |
| 420,000 | | | | | Gulfport Energy Corp., 6.375%, 01/15/2026 | | | 400,050 | | | | 0.1 | |
| 1,465,000 | | | | | Gulfport Energy Corp., 6.000%, 10/15/2024 | | | 1,397,244 | | | | 0.2 | |
| 495,000 | | | | | Gulfport Energy Corp., 6.375%, 05/15/2025 | | | 478,294 | | | | 0.1 | |
| 1,045,000 | | | (1) | | Hess Infrastructure Partners L.P. / Hess Infrastructure Partners Finance Corp., 5.625%, 02/15/2026 | | | 1,031,937 | | | | 0.2 | |
| 1,750,000 | | | (1) | | Hilcorp Energy I L.P. / Hilcorp Finance Co., 5.000%, 12/01/2024 | | | 1,732,500 | | | | 0.3 | |
| 2,070,000 | | | (1) | | Indigo Natural Resources LLC, 6.875%, 02/15/2026 | | | 1,961,325 | | | | 0.3 | |
| 2,100,000 | | | (1) | | Jonah Energy LLC / Jonah Energy Finance Corp., 7.250%, 10/15/2025 | | | 1,900,500 | | | | 0.3 | |
| 1,350,000 | | | (1) | | Lonestar Resources America, Inc., 11.250%, 01/01/2023 | | | 1,353,375 | | | | 0.2 | |
| 1,655,000 | | | (1) | | Moss Creek Resources Holdings, Inc., 7.500%, 01/15/2026 | | | 1,675,191 | | | | 0.3 | |
| 1,485,000 | | | | | Murphy Oil Corp., 4.450%, 12/01/2022 | | | 1,440,450 | | | | 0.3 | |
| 1,000,000 | | | | | Murphy Oil Corp., 5.750%, 08/15/2025 | | | 987,500 | | | | 0.2 | |
| 530,000 | | | | | Murphy Oil Corp., 6.875%, 08/15/2024 | | | 553,850 | | | | 0.1 | |
| 130,000 | | | | | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | | | 131,137 | | | | 0.0 | |
| 1,910,000 | | | | | Murphy Oil USA, Inc., 6.000%, 08/15/2023 | | | 1,976,850 | | | | 0.4 | |
| 1,470,000 | | | (1) | | Murray Energy Corp., 11.250%, 04/15/2021 | | | 558,600 | | | | 0.1 | |
| 1,800,000 | | | | | Newfield Exploration Co., 5.625%, 07/01/2024 | | | 1,908,000 | | | | 0.3 | |
| 220,000 | | | (1) | | NGPL PipeCo LLC, 4.375%, 08/15/2022 | | | 219,450 | | | | 0.0 | |
| 1,000,000 | | | (1) | | NGPL PipeCo LLC, 4.875%, 08/15/2027 | | | 988,750 | | | | 0.2 | |
| 830,000 | | | (1) | | Noble Holding International Ltd., 7.875%, 02/01/2026 | | | 818,587 | | | | 0.1 | |
| 435,000 | | | (1) | | PBF Logistics L.P. / PBF Logistics Finance Corp., 6.875%, 05/15/2023 | | | 442,613 | | | | 0.1 | |
| 2,285,000 | | | | | PBF Logistics L.P. / PBF Logistics Finance Corp., 6.875%, 05/15/2023 | | | 2,324,988 | | | | 0.4 | |
| 480,000 | | | | | Range Resources Corp., 5.875%, 07/01/2022 | | | 484,800 | | | | 0.1 | |
| 1,950,000 | | | (1) | | Rockies Express Pipeline LLC, 5.625%, 04/15/2020 | | | 2,028,020 | | | | 0.4 | |
| 1,630,000 | | | | | Sanchez Energy Corp., 6.125%, 01/15/2023 | | | 1,197,031 | | | | 0.2 | |
| 1,240,000 | | | (1),(2) | | Sanchez Energy Corp., 7.250%, 02/15/2023 | | | 1,249,300 | | | | 0.2 | |
| 400,000 | | | (2) | | Sanchez Energy Corp., 7.750%, 06/15/2021 | | | 370,000 | | | | 0.1 | |
| 2,100,000 | | | (1) | | SRC Energy, Inc., 6.250%, 12/01/2025 | | | 2,115,750 | | | | 0.4 | |
| 625,000 | | | | | Summit Midstream Holdings LLC / Summit Midstream Finance Corp., 5.500%, 08/15/2022 | | | 612,500 | | | | 0.1 | |
| 1,215,000 | | | | | Summit Midstream Holdings LLC / Summit Midstream Finance Corp., 5.750%, 04/15/2025 | | | 1,163,363 | | | | 0.2 | |
| 840,000 | | | (1) | | Sunoco L.P. / Sunoco Finance Corp., 4.875%, 01/15/2023 | | | 811,650 | | | | 0.1 | |
| 85,000 | | | (1) | | Sunoco L.P. / Sunoco Finance Corp., 5.500%, 02/15/2026 | | | 82,238 | | | | 0.0 | |
| 85,000 | | | (1) | | Sunoco L.P. / Sunoco Finance Corp., 5.875%, 03/15/2028 | | | 82,344 | | | | 0.0 | |
| 2,075,000 | | | (1) | | Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp., 5.500%, 01/15/2028 | | | 2,095,750 | | | | 0.4 | |
| 3,100,000 | | | | | Transocean, Inc., 6.800%, 03/15/2038 | | | 2,433,500 | | | | 0.4 | |
| 2,367,000 | | | | | Unit Corp., 6.625%, 05/15/2021 | | | 2,378,835 | | | | 0.4 | |
| 2,030,000 | | | (1) | | Vermilion Energy, Inc., 5.625%, 03/15/2025 | | | 1,994,475 | | | | 0.4 | |
| 1,945,000 | | | | | WildHorse Resource Development Corp., 6.875%, 02/01/2025 | | | 1,959,588 | | | | 0.3 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,240,000 | | | | | WPX Energy, Inc., 6.000%, 01/15/2022 | | | 3,345,300 | | | | 0.6 | |
| | | | | | | | | 85,799,190 | | | | 15.3 | |
| | | | | | | | | | | | | | |
| | | | | | Financial: 5.8% | | | | | | | | |
| 2,600,000 | | | | | Ally Financial, Inc., 5.750%, 11/20/2025 | | | 2,688,530 | | | | 0.5 | |
| 1,500,000 | | | | | Ally Financial, Inc., 7.500%, 09/15/2020 | | | 1,625,625 | | | | 0.3 | |
| 735,000 | | | | | Ally Financial, Inc., 8.000%, 03/15/2020 | | | 791,962 | | | | 0.1 | |
| 1,060,000 | | | | | CIT Group, Inc., 5.000%, 08/15/2022 | | | 1,087,825 | | | | 0.2 | |
| 205,000 | | | | | CIT Group, Inc., 5.250%, 03/07/2025 | | | 210,396 | | | | 0.0 | |
| 415,000 | | | | | CIT Group, Inc., 6.125%, 03/09/2028 | | | 431,600 | | | | 0.1 | |
| 1,150,000 | | | (1) | | CNG Holdings, Inc., 9.375%, 05/15/2020 | | | 1,138,500 | | | | 0.2 | |
| 965,000 | | | | | Equinix, Inc., 5.375%, 04/01/2023 | | | 990,331 | | | | 0.2 | |
| 1,300,000 | | | | | Equinix, Inc., 5.750%, 01/01/2025 | | | 1,358,500 | | | | 0.2 | |
| 2,350,000 | | | (1) | | ESH Hospitality, Inc., 5.250%, 05/01/2025 | | | 2,291,955 | | | | 0.4 | |
| 1,120,000 | | | (1) | | FBM Finance, Inc., 8.250%, 08/15/2021 | | | 1,176,000 | | | | 0.2 | |
| 2,115,000 | | | | | Lions Gate Capital Holdings LLC, 5.875%, 11/01/2024 | | | 2,199,600 | | | | 0.4 | |
| 1,100,000 | | | | | MGM Growth Properties Operating Partnership L.P. / MGP Finance Co-Issuer, Inc., 5.625%, 05/01/2024 | | | 1,138,500 | | | | 0.2 | |
| 820,000 | | | | | MPT Operating Partnership L.P. / MPT Finance Corp., 5.000%, 10/15/2027 | | | 805,896 | | | | 0.1 | |
| 200,000 | | | | | MPT Operating Partnership L.P. / MPT Finance Corp., 5.250%, 08/01/2026 | | | 200,250 | | | | 0.0 | |
| 1,000,000 | | | | | MPT Operating Partnership L.P. / MPT Finance Corp., 5.500%, 05/01/2024 | | | 1,025,010 | | | | 0.2 | |
| 1,000,000 | | | | | MPT Operating Partnership L.P. / MPT Finance Corp., 6.375%, 03/01/2024 | | | 1,055,020 | | | | 0.2 | |
| 1,965,000 | | | | | Navient Corp., 5.875%, 10/25/2024 | | | 1,935,525 | | | | 0.4 | |
| 1,250,000 | | | | | Navient Corp., 6.125%, 03/25/2024 | | | 1,251,563 | | | | 0.2 | |
| 2,000,000 | | | | | Navient Corp., 7.250%, 09/25/2023 | | | 2,100,000 | | | | 0.4 | |
| 1,405,000 | | | (1) | | Quicken Loans, Inc., 5.250%, 01/15/2028 | | | 1,317,187 | | | | 0.2 | |
| 2,040,000 | | | (1) | | Realogy Group LLC / Realogy Co-Issuer Corp., 5.250%, 12/01/2021 | | | 2,053,362 | | | | 0.4 | |
| 410,000 | | | | | Springleaf Finance Corp., 6.125%, 05/15/2022 | | | 418,856 | | | | 0.1 | |
| 1,850,000 | | | (1) | | Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 6.750%, 06/01/2025 | | | 1,852,313 | | | | 0.3 | |
| 1,390,000 | | | (1) | | UniCredit SpA, 5.861%, 06/19/2032 | | | 1,414,617 | | | | 0.3 | |
| | | | | | | | | 32,558,923 | | | | 5.8 | |
| | | | | | | | | | | | | | |
| | | | | | Industrial: 10.0% | | | | | | | | |
| 1,975,000 | | | (1) | | Advanced Disposal Services, Inc., 5.625%, 11/15/2024 | | | 1,999,687 | | | | 0.4 | |
| 2,120,000 | | | | | AECOM, 5.875%, 10/15/2024 | | | 2,228,650 | | | | 0.4 | |
| 2,425,000 | | | (5) | | ARD Finance SA, 7.125% (PIK Rate 7.875%, Cash Rate 0.000%), 09/15/2023 | | | 2,518,969 | | | | 0.4 | |
| 300,000 | | | (1),(5) | | ARD Securities Finance SARL, 8.750% (PIK Rate 8.750%, Cash Rate 0.000%), 01/31/2023 | | | 315,000 | | | | 0.1 | |
| 508,000 | | | (1) | | Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 6.000%, 02/15/2025 | | | 511,810 | | | | 0.1 | |
| 1,000,000 | | | (1) | | Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 7.250%, 05/15/2024 | | | 1,067,500 | | | | 0.2 | |
| 1,580,000 | | | (1) | | ATS Automation Tooling Systems, Inc., 6.500%, 06/15/2023 | | | 1,655,050 | | | | 0.3 | |
| 1,034,000 | | | (1) | | BMC East LLC, 5.500%, 10/01/2024 | | | 1,036,585 | | | | 0.2 | |
| 1,250,000 | | | (1) | | Bombardier, Inc., 6.000%, 10/15/2022 | | | 1,245,312 | | | | 0.2 | |
| 1,430,000 | | | (1) | | Bombardier, Inc., 7.500%, 12/01/2024 | | | 1,483,625 | | | | 0.3 | |
| 2,435,000 | | | (1) | | Bombardier, Inc., 8.750%, 12/01/2021 | | | 2,681,544 | | | | 0.5 | |
| 2,555,000 | | | (1) | | BWAY Holding Co., 7.250%, 04/15/2025 | | | 2,612,488 | | | | 0.5 | |
| 1,680,000 | | | (1) | | FXI Holdings, Inc., 7.875%, 11/01/2024 | | | 1,649,550 | | | | 0.3 | |
| 820,000 | | | (1) | | Gates Global LLC / Gates Global Co., 6.000%, 07/15/2022 | | | 833,407 | | | | 0.1 | |
| 2,100,000 | | | (1) | | Itron, Inc., 5.000%, 01/15/2026 | | | 2,074,380 | | | | 0.4 | |
| 1,260,000 | | | (1) | | Jeld-Wen, Inc., 4.625%, 12/15/2025 | | | 1,212,750 | | | | 0.2 | |
| 1,260,000 | | | (1) | | Jeld-Wen, Inc., 4.875%, 12/15/2027 | | | 1,193,850 | | | | 0.2 | |
| 1,355,000 | | | (1) | | Koppers, Inc., 6.000%, 02/15/2025 | | | 1,387,791 | | | | 0.2 | |
| 1,375,000 | | | (1) | | Masonite International Corp., 5.625%, 03/15/2023 | | | 1,421,406 | | | | 0.3 | |
| 210,000 | | | (1) | | Multi-Color Corp., 4.875%, 11/01/2025 | | | 196,875 | | | | 0.0 | |
| 2,325,000 | | | (1) | | Multi-Color Corp., 6.125%, 12/01/2022 | | | 2,406,375 | | | | 0.4 | |
| 1,440,000 | | | (1) | | Novelis Corp., 5.875%, 09/30/2026 | | | 1,422,000 | | | | 0.3 | |
| 600,000 | | | (1) | | Novelis Corp., 6.250%, 08/15/2024 | | | 616,500 | | | | 0.1 | |
| 1,630,000 | | | | | Orbital ATK, Inc., 5.500%, 10/01/2023 | | | 1,711,500 | | | | 0.3 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 725,000 | | | (1) | | Owens-Brockway Glass Container, Inc., 5.875%, 08/15/2023 | | | 751,734 | | | | 0.1 | |
| 1,975,000 | | | (1) | | Owens-Brockway Glass Container, Inc., 6.375%, 08/15/2025 | | | 2,088,563 | | | | 0.4 | |
| 1,680,000 | | | (1) | | Plastipak Holdings, Inc., 6.250%, 10/15/2025 | | | 1,684,200 | | | | 0.3 | |
| 1,030,000 | | | (1) | | Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu, 5.125%, 07/15/2023 | | | 1,041,279 | | | | 0.2 | |
| 135,000 | | | (1) | | Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu, 7.000%, 07/15/2024 | | | 141,581 | | | | 0.0 | |
| 1,000,000 | | | (1) | | Sealed Air Corp., 5.125%, 12/01/2024 | | | 1,022,400 | | | | 0.2 | |
| 500,000 | | | (1) | | Sealed Air Corp., 5.500%, 09/15/2025 | | | 518,750 | | | | 0.1 | |
| 2,485,000 | | | (1) | | Shape Technologies Group, Inc., 7.625%, 02/01/2020 | | | 2,542,155 | | | | 0.4 | |
| 2,265,000 | | | (1) | | Standard Industries, Inc./NJ, 6.000%, 10/15/2025 | | | 2,332,950 | | | | 0.4 | |
| 440,000 | | | | | Summit Materials LLC / Summit Materials Finance Corp., 6.125%, 07/15/2023 | | | 451,000 | | | | 0.1 | |
| 2,000,000 | | | | | Summit Materials LLC / Summit Materials Finance Corp., 8.500%, 04/15/2022 | | | 2,165,000 | | | | 0.4 | |
| 1,200,000 | | | | | TransDigm, Inc., 6.375%, 06/15/2026 | | | 1,212,000 | | | | 0.2 | |
| 820,000 | | | | | TransDigm, Inc., 6.500%, 05/15/2025 | | | 830,250 | | | | 0.1 | |
| 2,220,000 | | | (1) | | Wrangler Buyer Corp., 6.000%, 10/01/2025 | | | 2,192,250 | | | | 0.4 | |
| 1,620,000 | | | (1) | | Zekelman Industries, Inc., 9.875%, 06/15/2023 | | | 1,786,050 | | | | 0.3 | |
| | | | | | | | | 56,242,766 | | | | 10.0 | |
| | | | | | | | | | | | | | |
| | | | | | Technology: 6.3% | | | | | | | | |
| 1,575,000 | | | (1) | | Ascend Learning LLC, 6.875%, 08/01/2025 | | | 1,622,250 | | | | 0.3 | |
| 2,550,000 | | | (1) | | BMC Software Finance, Inc., 8.125%, 07/15/2021 | | | 2,559,562 | | | | 0.5 | |
| 704,000 | | | (1),(5) | | Boxer Parent Co., Inc., 9.000% (PIK Rate 9.750%, Cash Rate 9.000%), 10/15/2019 | | | 704,880 | | | | 0.1 | |
| 1,645,000 | | | (1) | | CDK Global, Inc., 4.875%, 06/01/2027 | | | 1,587,425 | | | | 0.3 | |
| 605,000 | | | | | CDW LLC / CDW Finance Corp., 5.000%, 09/01/2025 | | | 605,000 | | | | 0.1 | |
| 1,500,000 | | | | | CDW LLC / CDW Finance Corp., 5.500%, 12/01/2024 | | | 1,571,700 | | | | 0.3 | |
| 1,625,000 | | | (1) | | Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 5.750%, 03/01/2025 | | | 1,617,362 | | | | 0.3 | |
| 1,200,000 | | | (1) | | Dell International LLC / EMC Corp., 5.450%, 06/15/2023 | | | 1,272,999 | | | | 0.2 | |
| 540,000 | | | (1) | | Dell International LLC / EMC Corp., 5.875%, 06/15/2021 | | | 554,175 | | | | 0.1 | |
| 1,200,000 | | | (1) | | Dell International LLC / EMC Corp., 6.020%, 06/15/2026 | | | 1,293,639 | | | | 0.2 | |
| 540,000 | | | (1) | | Dell International LLC / EMC Corp., 7.125%, 06/15/2024 | | | 576,973 | | | | 0.1 | |
| 1,445,000 | | | | | Donnelley Financial Solutions, Inc., 8.250%, 10/15/2024 | | | 1,533,506 | | | | 0.3 | |
| 1,000,000 | | | (1) | | First Data Corp., 5.750%, 01/15/2024 | | | 1,010,000 | | | | 0.2 | |
| 3,000,000 | | | (1) | | First Data Corp., 7.000%, 12/01/2023 | | | 3,161,250 | | | | 0.6 | |
| 1,890,000 | | | (1),(5) | | Infor Software Parent LLC / Infor Software Parent, Inc., 7.125% (PIK Rate 7.875%, Cash Rate 7.125%), 05/01/2021 | | | 1,915,987 | | | | 0.3 | |
| 1,955,000 | | | (1) | | Micron Technology, Inc., 5.250%, 01/15/2024 | | | 2,030,756 | | | | 0.4 | |
| 590,000 | | | (1) | | MSCI, Inc., 5.250%, 11/15/2024 | | | 605,340 | | | | 0.1 | |
| 1,125,000 | | | (1) | | MSCI, Inc., 5.750%, 08/15/2025 | | | 1,180,913 | | | | 0.2 | |
| 750,000 | | | | | NCR Corp., 5.000%, 07/15/2022 | | | 753,750 | | | | 0.1 | |
| 1,800,000 | | | | | NCR Corp., 6.375%, 12/15/2023 | | | 1,872,000 | | | | 0.3 | |
| 1,720,000 | | | (1) | | Open Text Corp., 5.625%, 01/15/2023 | | | 1,790,950 | | | | 0.3 | |
| 800,000 | | | (1) | | Open Text Corp., 5.875%, 06/01/2026 | | | 824,760 | | | | 0.1 | |
| 440,000 | | | | | Qorvo, Inc., 6.750%, 12/01/2023 | | | 470,800 | | | | 0.1 | |
| 440,000 | | | | | Qorvo, Inc., 7.000%, 12/01/2025 | | | 479,965 | | | | 0.1 | |
| 1,425,000 | | | (1) | | RP Crown Parent LLC, 7.375%, 10/15/2024 | | | 1,478,438 | | | | 0.3 | |
| 600,000 | | | (1) | | Veritas US, Inc. / Veritas Bermuda Ltd., 7.500%, 02/01/2023 | | | 603,000 | | | | 0.1 | |
| 1,805,000 | | | (1) | | Veritas US, Inc. / Veritas Bermuda Ltd., 10.500%, 02/01/2024 | | | 1,696,700 | | | | 0.3 | |
| | | | | | | | | 35,374,080 | | | | 6.3 | |
| | | | | | | | | | | | | | |
| | | | | | Utilities: 1.6% | | | | | | | | |
| 735,000 | | | (1) | | Calpine Corp., 5.250%, 06/01/2026 | | | 712,031 | | | | 0.1 | |
| 725,000 | | | (2) | | Calpine Corp., 5.375%, 01/15/2023 | | | 696,761 | | | | 0.1 | |
| 1,725,000 | | | (2) | | Calpine Corp., 5.750%, 01/15/2025 | | | 1,582,688 | | | | 0.3 | |
| 1,000,000 | | | | | DPL, Inc., 7.250%, 10/15/2021 | | | 1,087,500 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,500,000 | | | (1) | | LBC Tank Terminals Holding Netherlands BV, 6.875%, 05/15/2023 | | | 1,548,750 | | | | 0.3 | |
| 840,000 | | | (1) | | NRG Energy, Inc., 5.750%, 01/15/2028 | | | 823,200 | | | | 0.1 | |
| 500,000 | | | | | NRG Energy, Inc., 6.250%, 07/15/2022 | | | 517,350 | | | | 0.1 | |
| 1,700,000 | | | | | NRG Energy, Inc., 6.625%, 01/15/2027 | | | 1,746,750 | | | | 0.3 | |
| 475,000 | | | | | NRG Energy, Inc., 7.250%, 05/15/2026 | | | 505,875 | | | | 0.1 | |
| | | | | | | | | 9,220,905 | | | | 1.6 | |
| | | | | | | | | | | | | | |
| | | | Total Corporate Bonds/Notes | | | | | | | | |
| | | | (Cost $547,781,173) | | | 546,276,085 | | | | 97.1 | |
| | | | | | | | | | | | | | |
BANK LOANS: 0.3% | | | | | | | |
| | | | | | Healthcare - Services: 0.3% | | | | | | | | |
| 1,217,179 | | | | | Kindred Healthcare, Inc., 5.645%, (US0003M + 3.500%), 04/09/2021 | | | 1,222,676 | | | | 0.3 | |
| | | | | | | | | | | | | | |
| | | | Total Bank Loans | | | | | | | | |
| | | | (Cost $1,214,968) | | | 1,222,676 | | | | 0.3 | |
Shares | | | | | | | Value | | | Percentage of Net Assets | |
COMMON STOCK: –% | | | | | | | |
| | | | | | Consumer Discretionary: –% | | | | | | | | |
| 195 | | | (3),(6) | | American Media, Inc. | | | – | | | | – | |
| | | | | | | | | | | | | | |
| | | | Total Common Stock | | | | | | | | |
| | | | (Cost $7,957) | | | – | | | | – | |
| | | | | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | | |
| | | | (Cost $549,004,098) | | | 547,498,761 | | | | 97.4 | |
Principal Amount† | | | | | | | Value | | | Percentage of Net Assets | |
SHORT-TERM INVESTMENTS: 6.8% | | | | | |
| | | | | | Securities Lending Collateral(7): 5.2% |
| 6,928,561 | | | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 03/29/18, 1.80%, due 04/02/18 (Repurchase Amount $6,929,928, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-9.500%, Market Value plus accrued interest $7,067,132, due 03/31/18-02/20/68) | | | 6,928,561 | | | | 1.2 | |
| 6,928,561 | | | | | Daiwa Capital Markets, Repurchase Agreement dated 03/29/18, 1.81%, due 04/02/18 (Repurchase Amount $6,929,935, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $7,067,132, due 04/30/18-12/01/51) | | | 6,928,561 | | | | 1.3 | |
| 6,928,561 | | | | | Jefferies LLC, Repurchase Agreement dated 03/29/18, 1.82%, due 04/02/18 (Repurchase Amount $6,929,943, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-6.250%, Market Value plus accrued interest $7,067,164, due 04/17/18-07/15/32) | | | 6,928,561 | | | | 1.2 | |
| 1,457,147 | | | | | Merrill Lynch & Co., Inc., Repurchase Agreement dated 03/29/18, 1.80%, due 04/02/18 (Repurchase Amount $1,457,434, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $1,486,290, due 10/31/23-09/09/49) | | | 1,457,147 | | | | 0.3 | |
| 6,928,561 | | | | | Nomura Securities, Repurchase Agreement dated 03/29/18, 1.82%, due 04/02/18 (Repurchase Amount $6,929,943, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-7.500%, Market Value plus accrued interest $7,067,132, due 04/02/18-02/20/68) | | | 6,928,561 | | | | 1.2 | |
| | | | | | | | | 29,171,391 | | | | 5.2 | |
See Accompanying Notes to Financial Statements
Voya High Yield Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
Shares | | | | | | | Value | | | Percentage of Net Assets | |
| | | | | | Mutual Funds: 1.6% | | | | | | | | |
| 9,295,000 | | | (8) | | BlackRock Liquidity Funds, FedFund, Institutional Class, 1.550% | | | | | | | | |
| | | | | | (Cost $9,295,000) | | | 9,295,000 | | | | 1.6 | |
| | | | | | | | | | | | | | |
| | | | Total Short-Term Investments | | | | | | | | |
| | | | (Cost $38,466,391) | | | 38,466,391 | | | | 6.8 | |
| | | | | | | | | | | | | | |
| | | | Total Investments in Securities (Cost $587,470,489) | | $ | 585,965,152 | | | | 104.2 | |
| | | | Liabilities in Excess of Other Assets | | | (23,362,860 | ) | | | (4.2 | ) |
| | | | Net Assets | | $ | 562,602,292 | | | | 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) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
(4) | Defaulted security |
(5) | 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. |
(6) | Non-income producing security. |
(7) | Represents securities purchased with cash collateral received for securities on loan. |
(8) | Rate shown is the 7-day yield as of March 31, 2018. |
Reference Rate Abbreviations: |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 |
Principal Amount† | | | | | | | Value | | | Percentage of Net Assets | |
CORPORATE BONDS/NOTES: 32.7% | | | | | | | |
| | | | | | Basic Materials: 0.8% | | | | | | | | |
| 2,746,000 | | | (1) | | Anglo American Capital PLC, 4.875%, 05/14/2025 | | | 2,816,014 | | | | 0.1 | |
| 2,000,000 | | | | | ArcelorMittal, 5.750%, 03/01/2021 | | | 2,112,500 | | | | 0.0 | |
| 370,000 | | | | | ArcelorMittal, 7.000%, 03/01/2041 | | | 431,975 | | | | 0.0 | |
| 1,945,000 | | | | | ArcelorMittal, 7.250%, 10/15/2039 | | | 2,309,687 | | | | 0.1 | |
| 2,250,000 | | | (1) | | Braskem Netherlands Finance BV, 4.500%, 01/10/2028 | | | 2,192,962 | | | | 0.0 | |
| 2,690,000 | | | | | Chemours Co/The, 5.375%, 05/15/2027 | | | 2,703,450 | | | | 0.1 | |
| 2,250,000 | | | | | Corp Nacional del Cobre de Chile, 4.500%, 09/16/2025 | | | 2,347,330 | | | | 0.1 | |
| 1,200,000 | | | (1) | | Corp Nacional del Cobre de Chile, 4.500%, 09/16/2025 | | | 1,251,910 | | | | 0.0 | |
| 4,577,000 | | | | | Dow Chemical Co/The, 4.625%, 10/01/2044 | | | 4,713,508 | | | | 0.1 | |
| 361,000 | | | | | Eastman Chemical Co., 2.700%, 01/15/2020 | | | 358,969 | | | | 0.0 | |
| 1,897,000 | | | (1) | | Georgia-Pacific LLC, 2.539%, 11/15/2019 | | | 1,885,763 | | | | 0.0 | |
| 1,960,000 | | | (1) | | Georgia-Pacific LLC, 3.163%, 11/15/2021 | | | 1,960,076 | | | | 0.0 | |
| 1,360,000 | | | (1) | | Georgia-Pacific LLC, 3.734%, 07/15/2023 | | | 1,387,097 | | | | 0.0 | |
| 1,242,000 | | | | | Goldcorp, Inc., 3.700%, 03/15/2023 | | | 1,236,054 | | | | 0.0 | |
| 1,737,000 | | | | | International Paper Co., 4.350%, 08/15/2048 | | | 1,651,675 | | | | 0.0 | |
| 2,511,000 | | | | | PPG Industries, Inc., 3.750%, 03/15/2028 | | | 2,524,160 | | | | 0.1 | |
| 3,500,000 | | | | | Sherwin-Williams Co/The, 3.125%, 06/01/2024 | | | 3,387,292 | | | | 0.1 | |
| 7,290,000 | | | | | Teck Resources Ltd., 6.000%, 08/15/2040 | | | 7,545,150 | | | | 0.1 | |
| | | | | | | | | 42,815,572 | | | | 0.8 | |
| | | | | | | | | | | | | | |
| | | | | | Communications: 4.3% | | | | | | | | |
| 2,075,000 | | | | | 21st Century Fox America, Inc., 3.000%, 09/15/2022 | | | 2,051,288 | | | | 0.0 | |
| 2,455,000 | | | (2) | | Alibaba Group Holding Ltd., 3.600%, 11/28/2024 | | | 2,437,104 | | | | 0.0 | |
| 10,180,000 | | | | | Alibaba Group Holding Ltd, 3.400%, 12/06/2027 | | | 9,666,790 | | | | 0.2 | |
| 5,165,000 | | | (1) | | Altice Financing SA, 6.625%, 02/15/2023 | | | 5,126,262 | | | | 0.1 | |
| 4,173,000 | | | (1) | | Amazon.com, Inc., 4.050%, 08/22/2047 | | | 4,160,061 | | | | 0.1 | |
| 2,695,000 | | | | | AMC Networks, Inc., 4.750%, 08/01/2025 | | | 2,603,720 | | | | 0.0 | |
| 592,000 | | | | | AT&T, Inc., 4.125%, 02/17/2026 | | | 594,060 | | | | 0.0 | |
| 9,711,000 | | | (1) | | AT&T, Inc., 4.300%, 02/15/2030 | | | 9,685,089 | | | | 0.2 | |
| 2,657,000 | | | | | AT&T, Inc., 4.550%, 03/09/2049 | | | 2,487,315 | | | | 0.0 | |
| 3,222,000 | | | | | AT&T, Inc., 4.800%, 06/15/2044 | | | 3,151,313 | | | | 0.1 | |
| 1,622,000 | | | | | AT&T, Inc., 5.150%, 03/15/2042 | | | 1,674,310 | | | | 0.0 | |
| 3,275,000 | | | (1) | | AT&T, Inc., 5.150%, 11/15/2046 | | | 3,354,067 | | | | 0.1 | |
| 8,046,000 | | | | | AT&T, Inc., 5.150%, 02/14/2050 | | | 8,144,597 | | | | 0.1 | |
| 7,769,000 | | | | | AT&T, Inc., 5.450%, 03/01/2047 | | | 8,263,024 | | | | 0.2 | |
| 4,000,000 | | | (1) | | CBS Corp., 3.700%, 06/01/2028 | | | 3,815,074 | | | | 0.1 | |
| 1,813,000 | | | | | CBS Corp., 4.600%, 01/15/2045 | | | 1,758,375 | | | | 0.0 | |
| 2,090,000 | | | | | CBS Corp., 5.500%, 05/15/2033 | | | 2,227,822 | | | | 0.0 | |
| 1,000,000 | | | | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 02/15/2023 | | | 1,009,000 | | | | 0.0 | |
| 3,910,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | | | 3,721,929 | | | | 0.1 | |
| 475,000 | | | | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.750%, 09/01/2023 | | | 483,312 | | | | 0.0 | |
| 2,725,000 | | | | | CenturyLink, Inc., 5.800%, 03/15/2022 | | | 2,673,906 | | | | 0.0 | |
| 10,150,000 | | | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.579%, 07/23/2020 | | | 10,182,673 | | | | 0.2 | |
| 4,265,000 | | | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.750%, 02/15/2028 | | | 3,924,401 | | | | 0.1 | |
| 2,660,000 | | | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.464%, 07/23/2022 | | | 2,720,734 | | | | 0.1 | |
| 5,387,000 | | | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.908%, 07/23/2025 | | | 5,510,312 | | | | 0.1 | |
| 2,079,000 | | | | | Comcast Corp., 3.550%, 05/01/2028 | | | 2,047,386 | | | | 0.0 | |
| 1,800,000 | | | | | Comcast Corp., 3.900%, 03/01/2038 | | | 1,750,866 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,680,000 | | | | | Comcast Corp., 4.250%, 01/15/2033 | | | 3,815,467 | | | | 0.1 | |
| 2,725,000 | | | (1) | | CommScope Technologies LLC, 5.000%, 03/15/2027 | | | 2,595,562 | | | | 0.0 | |
| 638,000 | | | (1) | | Cox Communications, Inc., 2.950%, 06/30/2023 | | | 615,616 | | | | 0.0 | |
| 5,500,000 | | | | | CSC Holdings LLC, 5.250%, 06/01/2024 | | | 5,245,625 | | | | 0.1 | |
| 5,480,000 | | | | | Discovery Communications LLC, 2.950%, 03/20/2023 | | | 5,284,877 | | | | 0.1 | |
| 5,725,000 | | | | | DISH DBS Corp., 5.875%, 11/15/2024 | | | 5,123,875 | | | | 0.1 | |
| 770,000 | | | | | Level 3 Financing, Inc., 5.250%, 03/15/2026 | | | 727,650 | | | | 0.0 | |
| 4,330,000 | | | | | Level 3 Parent LLC, 5.750%, 12/01/2022 | | | 4,338,140 | | | | 0.1 | |
| 9,365,000 | | | (1) | | NBCUniversal Enterprise, Inc., 5.250%, 12/31/2199 | | | 9,739,600 | | | | 0.2 | |
| 5,920,000 | | | | | NBCUniversal Media LLC, 5.150%, 04/30/2020 | | | 6,180,171 | | | | 0.1 | |
| 1,835,000 | | | | | Netflix, Inc., 5.750%, 03/01/2024 | | | 1,912,988 | | | | 0.0 | |
| 948,000 | | | | | Scripps Networks Interactive, Inc., 2.750%, 11/15/2019 | | | 941,584 | | | | 0.0 | |
| 3,450,000 | | | (1),(2) | | Sinclair Television Group, Inc., 5.125%, 02/15/2027 | | | 3,217,125 | | | | 0.1 | |
| 3,000,000 | | | (1),(2) | | Sinclair Television Group, Inc., 5.625%, 08/01/2024 | | | 2,985,000 | | | | 0.1 | |
| 2,225,000 | | | (1) | | Sirius XM Radio, Inc., 5.000%, 08/01/2027 | | | 2,102,625 | | | | 0.0 | |
| 2,880,000 | | | (1) | | Sirius XM Radio, Inc., 5.375%, 04/15/2025 | | | 2,865,600 | | | | 0.1 | |
| 4,010,000 | | | (1) | | Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC, 5.152%, 09/20/2029 | | | 4,040,075 | | | | 0.1 | |
| 1,190,000 | | | | | Telecom Italia Capital SA, 6.375%, 11/15/2033 | | | 1,297,100 | | | | 0.0 | |
| 5,075,000 | | | | | Telecom Italia Capital SA, 7.721%, 06/04/2038 | | | 6,230,578 | | | | 0.1 | |
| 3,300,000 | | | | | Telefonica Emisiones SAU, 4.665%, 03/06/2038 | | | 3,343,999 | | | | 0.1 | |
| 3,550,000 | | | | | Telefonica Emisiones SAU, 4.895%, 03/06/2048 | | | 3,622,905 | | | | 0.1 | |
| 3,420,000 | | | (1) | | Tencent Holdings Ltd., 2.985%, 01/19/2023 | | | 3,334,015 | | | | 0.1 | |
| 2,350,000 | | | | | Time Warner Cable LLC, 5.500%, 09/01/2041 | | | 2,339,037 | | | | 0.0 | |
| 2,829,000 | | | | | Time Warner Cable LLC, 5.875%, 11/15/2040 | | | 2,959,852 | | | | 0.1 | |
| 3,101,000 | | | | | Time Warner, Inc., 4.050%, 12/15/2023 | | | 3,181,640 | | | | 0.1 | |
| 2,074,000 | | | | | Time Warner, Inc., 5.350%, 12/15/2043 | | | 2,216,761 | | | | 0.0 | |
| 1,380,000 | | | | | Time Warner, Inc., 6.500%, 11/15/2036 | | | 1,660,691 | | | | 0.0 | |
| 5,220,000 | | | | | T-Mobile USA, Inc., 4.750%, 02/01/2028 | | | 5,024,250 | | | | 0.1 | |
| 1,435,000 | | | | | T-Mobile USA, Inc., 6.625%, 04/01/2023 | | | 1,482,542 | | | | 0.0 | |
| 5,815,000 | | | (1),(2) | | Univision Communications, Inc., 5.125%, 02/15/2025 | | | 5,437,025 | | | | 0.1 | |
| 4,058,000 | | | | | Verizon Communications, Inc., 3.000%, 11/01/2021 | | | 4,029,101 | | | | 0.1 | |
| 1,902,000 | | | | | Verizon Communications, Inc., 4.150%, 03/15/2024 | | | 1,953,826 | | | | 0.0 | |
| 3,935,000 | | | | | Verizon Communications, Inc., 4.500%, 08/10/2033 | | | 3,990,638 | | | | 0.1 | |
| 10,674,000 | | | | | Verizon Communications, Inc., 4.812%, 03/15/2039 | | | 10,939,157 | | | | 0.2 | |
| 3,772,000 | | | | | Verizon Communications, Inc., 4.862%, 08/21/2046 | | | 3,814,769 | | | | 0.1 | |
| 2,561,000 | | | | | Viacom, Inc., 4.375%, 03/15/2043 | | | 2,299,579 | | | | 0.0 | |
| 1,950,000 | | | | | Viacom, Inc., 5.850%, 09/01/2043 | | | 2,128,893 | | | | 0.0 | |
| | | | | | | | | 238,242,728 | | | | 4.3 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Cyclical: 3.1% | | | | | | | | |
| 5,315,000 | | | (1) | | 1011778 BC ULC / New Red Finance, Inc., 5.000%, 10/15/2025 | | | 5,087,518 | | | | 0.1 | |
| 5,605,000 | | | (2) | | AMC Entertainment Holdings, Inc., 5.875%, 11/15/2026 | | | 5,520,925 | | | | 0.1 | |
| 2,332,080 | | | | | American Airlines 2016-2 Class AA Pass Through Trust, 3.200%, 12/15/2029 | | | 2,228,302 | | | | 0.0 | |
| 2,484,185 | | | | | American Airlines 2017-1 Class AA Pass Through Trust, 3.650%, 08/15/2030 | | | 2,470,522 | | | | 0.1 | |
| 1,780,000 | | | | | American Airlines 2017-2 Class A Pass Through Trust, 3.600%, 04/15/2031 | | | 1,755,824 | | | | 0.0 | |
| 1,780,000 | | | | | American Airlines 2017-2 Class AA Pass Through Trust, 3.350%, 04/15/2031 | | | 1,730,566 | | | | 0.0 | |
| 1,830,000 | | | | | American Airlines 2017-2 Class B Pass Through Trust, 3.700%, 04/15/2027 | | | 1,796,612 | | | | 0.0 | |
| 2,500,000 | | | (1) | | British Airways 2018-1 Class AA Pass Through Trust, 3.800%, 03/20/2033 | | | 2,526,500 | | | | 0.1 | |
| 1,070,459 | | | | | Continental Airlines 2012-1 Class A Pass Through Trust, 4.150%, 10/11/2025 | | | 1,084,322 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 4,923,957 | | | | | Continental Airlines 2012-2 Class B Pass Through Trust, 5.500%, 04/29/2022 | | | 5,068,229 | | | | 0.1 | |
| 5,195,000 | | | (1) | | CRC Escrow Issuer LLC / CRC Finco, Inc., 5.250%, 10/15/2025 | | | 4,993,330 | | | | 0.1 | |
| 5,130,000 | | | (1) | | Daimler Finance North America LLC, 2.300%, 02/12/2021 | | | 5,004,649 | | | | 0.1 | |
| 2,115,000 | | | (1) | | Dana Financing Luxembourg Sarl, 5.750%, 04/15/2025 | | | 2,159,944 | | | | 0.0 | |
| 2,895,000 | | | (1) | | Dana Financing Luxembourg Sarl, 6.500%, 06/01/2026 | | | 3,018,037 | | | | 0.1 | |
| 3,184,556 | | | | | Delta Air Lines 2002-1 Class G-1 Pass Through Trust, 6.718%, 07/02/2024 | | | 3,452,218 | | | | 0.1 | |
| 1,586,028 | | | | | Delta Air Lines 2015-1 Class AA Pass Through Trust, 3.625%, 01/30/2029 | | | 1,574,212 | | | | 0.0 | |
| 3,970,000 | | | | | DR Horton, Inc., 4.750%, 02/15/2023 | | | 4,168,691 | | | | 0.1 | |
| 2,371,000 | | | (2) | | Ford Motor Co., 5.291%, 12/08/2046 | | | 2,323,282 | | | | 0.0 | |
| 3,266,000 | | | | | Ford Motor Credit Co. LLC, 4.134%, 08/04/2025 | | | 3,214,559 | | | | 0.1 | |
| 1,165,000 | | | | | Ford Motor Credit Co. LLC, 8.125%, 01/15/2020 | | | 1,261,852 | | | | 0.0 | |
| 2,200,000 | | | (2) | | General Motors Co., 5.400%, 04/01/2048 | | | 2,202,156 | | | | 0.0 | |
| 2,674,000 | | | | | General Motors Financial Co., Inc., 2.650%, 04/13/2020 | | | 2,642,598 | | | | 0.1 | |
| 1,645,000 | | | | | General Motors Financial Co., Inc., 3.950%, 04/13/2024 | | | 1,632,533 | | | | 0.0 | |
| 1,732,000 | | | | | General Motors Financial Co., Inc., 4.350%, 01/17/2027 | | | 1,722,454 | | | | 0.0 | |
| 2,835,000 | | | | | Goodyear Tire & Rubber Co/The, 4.875%, 03/15/2027 | | | 2,734,272 | | | | 0.1 | |
| 5,059,000 | | | (1) | | Lennar Corp., 4.750%, 11/29/2027 | | | 4,869,288 | | | | 0.1 | |
| 3,926,000 | | | | | Lowe's Cos, Inc., 3.700%, 04/15/2046 | | | 3,652,797 | | | | 0.1 | |
| 2,256,000 | | | | | McDonald's Corp., 4.875%, 12/09/2045 | | | 2,454,536 | | | | 0.1 | |
| 5,560,000 | | | | | MGM Resorts International, 4.625%, 09/01/2026 | | | 5,337,600 | | | | 0.1 | |
| 5,030,000 | | | (1) | | Nissan Motor Acceptance Corp., 2.600%, 09/28/2022 | | | 4,877,645 | | | | 0.1 | |
| 2,267,000 | | | | | Nordstrom, Inc., 4.000%, 03/15/2027 | | | 2,211,437 | | | | 0.0 | |
| 1,760,000 | | | | | Nordstrom, Inc., 5.000%, 01/15/2044 | | | 1,656,811 | | | | 0.0 | |
| 2,780,000 | | | | | O'Reilly Automotive, Inc., 3.600%, 09/01/2027 | | | 2,697,138 | | | | 0.1 | |
| 4,412,000 | | | | | Royal Caribbean Cruises Ltd., 3.700%, 03/15/2028 | | | 4,234,936 | | | | 0.1 | |
| 1,605,000 | | | (1) | | Six Flags Entertainment Corp., 4.875%, 07/31/2024 | | | 1,566,881 | | | | 0.0 | |
| 5,920,000 | | | (1) | | Six Flags Entertainment Corp., 5.500%, 04/15/2027 | | | 5,875,600 | | | | 0.1 | |
| 6,089,000 | | | | | Southwest Airlines Co., 3.450%, 11/16/2027 | | | 5,895,681 | | | | 0.1 | |
| 1,960,000 | | | | | Spirit Airlines Pass Through Trust 2017-1A, 3.650%, 08/15/2031 | | | 1,939,224 | | | | 0.0 | |
| 1,960,000 | | | | | Spirit Airlines Pass Through Trust 2017-1AA, 3.375%, 08/15/2031 | | | 1,909,262 | | | | 0.0 | |
| 2,171,160 | | | | | United Airlines 2016-1 Class AA Pass Through Trust, 3.100%, 01/07/2030 | | | 2,097,929 | | | | 0.0 | |
| 1,100,000 | | | | | United Airlines 2016-1 Class B Pass Through Trust, 3.650%, 07/07/2027 | | | 1,078,915 | | | | 0.0 | |
| 2,620,000 | | | | | United Airlines 2016-2 Class A Pass Through Trust, 3.100%, 04/07/2030 | | | 2,470,267 | | | | 0.1 | |
| 5,930,000 | | | | | United Airlines 2016-2 Class AA Pass Through Trust, 2.875%, 04/07/2030 | | | 5,600,292 | | | | 0.1 | |
| 1,470,000 | | | | | United Airlines 2016-2 Class B Pass Through Trust, 3.650%, 04/07/2027 | | | 1,430,457 | | | | 0.0 | |
| 3,437,897 | | | | | US Airways 2012-2 Class B Pass Through Trust, 6.750%, 12/03/2022 | | | 3,674,253 | | | | 0.1 | |
| 7,193,140 | | | | | US Airways 2013-1 Class B Pass Through Trust, 5.375%, 05/15/2023 | | | 7,435,909 | | | | 0.1 | |
| 4,730,000 | | | (1) | | Volkswagen Group of America Finance LLC, 2.400%, 05/22/2020 | | | 4,666,554 | | | | 0.1 | |
| 4,570,000 | | | | | Walmart, Inc., 2.350%, 12/15/2022 | | | 4,450,000 | | | | 0.1 | |
| 7,500,000 | | | | | WW Grainger, Inc., 4.200%, 05/15/2047 | | | 7,537,478 | | | | 0.1 | |
| 4,990,000 | | | (1),(2) | | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.500%, 03/01/2025 | | | 5,027,425 | | | | 0.1 | |
| 4,670,000 | | | (1) | | ZF North America Capital, Inc., 4.000%, 04/29/2020 | | | 4,722,538 | | | | 0.1 | |
| | | | | | | | | 170,744,960 | | | | 3.1 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Non-cyclical: 5.0% | | | | | | | | |
| 2,232,000 | | | | | Abbott Laboratories, 2.800%, 09/15/2020 | | | 2,221,929 | | | | 0.0 | |
| 3,630,000 | | | | | Abbott Laboratories, 2.900%, 11/30/2021 | | | 3,598,376 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,229,000 | | | | | Abbott Laboratories, 4.750%, 11/30/2036 | | | 3,483,871 | | | | 0.1 | |
| 3,393,000 | | | | | Abbott Laboratories, 4.900%, 11/30/2046 | | | 3,728,467 | | | | 0.1 | |
| 3,414,000 | | | | | AbbVie, Inc., 3.200%, 05/14/2026 | | | 3,253,131 | | | | 0.1 | |
| 7,138,000 | | | | | AbbVie, Inc., 4.450%, 05/14/2046 | | | 7,114,282 | | | | 0.1 | |
| 7,290,000 | | | | | Allergan Funding SCS, 3.800%, 03/15/2025 | | | 7,171,538 | | | | 0.1 | |
| 1,849,000 | | | | | Aetna, Inc., 2.800%, 06/15/2023 | | | 1,778,076 | | | | 0.0 | |
| 1,764,000 | | | | | Aetna, Inc., 4.500%, 05/15/2042 | | | 1,759,395 | | | | 0.0 | |
| 7,850,000 | | | | | AmerisourceBergen Corp., 3.450%, 12/15/2027 | | | 7,478,819 | | | | 0.1 | |
| 3,470,000 | | | | | Amgen, Inc., 2.125%, 05/01/2020 | | | 3,410,637 | | | | 0.1 | |
| 3,523,000 | | | | | Amgen, Inc., 3.200%, 11/02/2027 | | | 3,342,468 | | | | 0.1 | |
| 4,589,000 | | | | | Anheuser-Busch InBev Finance, Inc., 4.700%, 02/01/2036 | | | 4,863,545 | | | | 0.1 | |
| 9,613,000 | | | | | Anheuser-Busch InBev Finance, Inc., 4.900%, 02/01/2046 | | | 10,390,055 | | | | 0.2 | |
| 4,465,000 | | | | | Anheuser-Busch InBev Worldwide, Inc., 4.000%, 04/13/2028 | | | 4,522,774 | | | | 0.1 | |
| 1,960,000 | | | | | Anheuser-Busch InBev Worldwide, Inc., 4.439%, 10/06/2048 | | | 1,979,072 | | | | 0.0 | |
| 1,956,000 | | | | | Anthem, Inc., 3.650%, 12/01/2027 | | | 1,893,534 | | | | 0.0 | |
| 4,159,000 | | | | | Anthem, Inc., 5.100%, 01/15/2044 | | | 4,496,795 | | | | 0.1 | |
| 6,220,000 | | | | | AstraZeneca PLC, 2.375%, 11/16/2020 | | | 6,124,551 | | | | 0.1 | |
| 3,580,000 | | | (1) | | BAT Capital Corp., 3.222%, 08/15/2024 | | | 3,454,963 | | | | 0.1 | |
| 6,619,000 | | | (1) | | BAT Capital Corp., 3.557%, 08/15/2027 | | | 6,342,470 | | | | 0.1 | |
| 2,938,000 | | | (1) | | BAT Capital Corp., 4.540%, 08/15/2047 | | | 2,912,907 | | | | 0.1 | |
| 5,270,000 | | | (1) | | BAT International Finance PLC, 2.750%, 06/15/2020 | | | 5,227,098 | | | | 0.1 | |
| 2,710,000 | | | (1) | | Bayer US Finance LLC, 3.000%, 10/08/2021 | | | 2,682,076 | | | | 0.1 | |
| 4,220,000 | | | | | Becton Dickinson and Co., 2.894%, 06/06/2022 | | | 4,097,257 | | | | 0.1 | |
| 7,600,000 | | | | | Becton Dickinson and Co., 3.700%, 06/06/2027 | | | 7,346,777 | | | | 0.1 | |
| 2,615,000 | | | (1) | | Brink's Co/The, 4.625%, 10/15/2027 | | | 2,431,950 | | | | 0.0 | |
| 2,940,000 | | | | | Campbell Soup Co., 3.650%, 03/15/2023 | | | 2,948,247 | | | | 0.1 | |
| 2,940,000 | | | | | Campbell Soup Co., 4.150%, 03/15/2028 | | | 2,913,762 | | | | 0.1 | |
| 3,470,000 | | | | | Cardinal Health, Inc., 2.616%, 06/15/2022 | | | 3,356,727 | | | | 0.1 | |
| 3,500,000 | | | | | Cardinal Health, Inc., 3.079%, 06/15/2024 | | | 3,342,278 | | | | 0.1 | |
| 3,500,000 | | | | | Celgene Corp., 4.550%, 02/20/2048 | | | 3,438,815 | | | | 0.1 | |
| 2,755,000 | | | (2) | | CHS/Community Health Systems, Inc., 5.125%, 08/01/2021 | | | 2,575,925 | | | | 0.0 | |
| 3,300,000 | | | | | Constellation Brands, Inc., 4.100%, 02/15/2048 | | | 3,073,184 | | | | 0.1 | |
| 7,680,000 | | | | | CVS Health Corp., 3.125%, 03/09/2020 | | | 7,698,527 | | | | 0.1 | |
| 5,120,000 | | | | | CVS Health Corp., 3.700%, 03/09/2023 | | | 5,141,387 | | | | 0.1 | |
| 5,390,000 | | | | | CVS Health Corp., 4.100%, 03/25/2025 | | | 5,431,521 | | | | 0.1 | |
| 5,030,000 | | | | | CVS Health Corp., 4.300%, 03/25/2028 | | | 5,071,055 | | | | 0.1 | |
| 4,090,000 | | | | | CVS Health Corp., 5.125%, 07/20/2045 | | | 4,376,585 | | | | 0.1 | |
| 2,561,000 | | | | | Envision Healthcare Corp., 5.625%, 07/15/2022 | | | 2,585,330 | | | | 0.0 | |
| 2,680,000 | | | | | Express Scripts Holding Co., 3.000%, 07/15/2023 | | | 2,570,573 | | | | 0.0 | |
| 3,875,000 | | | | | HCA, Inc., 5.500%, 06/15/2047 | | | 3,753,906 | | | | 0.1 | |
| 3,875,000 | | | | | HCA, Inc., 5.875%, 02/15/2026 | | | 3,952,500 | | | | 0.1 | |
| 2,600,000 | | | (1) | | Hill-Rom Holdings, Inc., 5.000%, 02/15/2025 | | | 2,590,250 | | | | 0.0 | |
| 1,153,000 | | | | | Humana, Inc., 3.150%, 12/01/2022 | | | 1,139,670 | | | | 0.0 | |
| 1,385,000 | | | (1) | | IHS Markit Ltd, 4.000%, 03/01/2026 | | | 1,336,525 | | | | 0.0 | |
| 3,430,000 | | | (1) | | Imperial Brands Finance PLC, 2.950%, 07/21/2020 | | | 3,406,845 | | | | 0.1 | |
| 2,290,000 | | | (1) | | Imperial Brands Finance PLC, 3.750%, 07/21/2022 | | | 2,300,469 | | | | 0.0 | |
| 5,475,000 | | | (1) | | JBS USA LUX SA / JBS USA Finance, Inc., 5.750%, 06/15/2025 | | | 5,132,813 | | | | 0.1 | |
| 1,140,000 | | | | | Johnson & Johnson, 4.375%, 12/05/2033 | | | 1,250,056 | | | | 0.0 | |
| 3,786,000 | | | | | Kraft Heinz Foods Co., 4.375%, 06/01/2046 | | | 3,462,859 | | | | 0.1 | |
| 6,457,000 | | | | | Kroger Co/The, 4.450%, 02/01/2047 | | | 6,118,192 | | | | 0.1 | |
| 3,000,000 | | | (2) | | Kroger Co/The, 4.650%, 01/15/2048 | | | 2,925,670 | | | | 0.1 | |
| 1,025,000 | | | | | Kroger Co/The, 5.150%, 08/01/2043 | | | 1,054,091 | | | | 0.0 | |
| 2,650,000 | | | | | McKesson Corp., 3.950%, 02/16/2028 | | | 2,620,763 | | | | 0.1 | |
| 1,155,000 | | | | | Medtronic, Inc., 3.625%, 03/15/2024 | | | 1,169,018 | | | | 0.0 | |
| 2,074,000 | | | | | Medtronic, Inc., 4.375%, 03/15/2035 | | | 2,201,582 | | | | 0.0 | |
| 1,658,000 | | | | | Medtronic, Inc., 4.625%, 03/15/2045 | | | 1,817,114 | | | | 0.0 | |
| 1,690,000 | | | | | Mylan NV, 3.750%, 12/15/2020 | | | 1,702,311 | | | | 0.0 | |
| 989,000 | | | | | Mylan NV, 3.950%, 06/15/2026 | | | 960,329 | | | | 0.0 | |
| 4,375,000 | | | | | Novartis Capital Corp., 4.400%, 04/24/2020 | | | 4,522,927 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,722,000 | | | | | PepsiCo, Inc., 4.450%, 04/14/2046 | | | 1,853,334 | | | | 0.0 | |
| 2,689,000 | | | | | Philip Morris International, Inc., 4.250%, 11/10/2044 | | | 2,698,217 | | | | 0.1 | |
| 8,470,000 | | | (1) | | Post Holdings, Inc., 5.000%, 08/15/2026 | | | 8,067,675 | | | | 0.1 | |
| 3,071,000 | | | | | Reynolds American, Inc., 5.850%, 08/15/2045 | | | 3,599,822 | | | | 0.1 | |
| 5,135,000 | | | | | Service Corp. International/US, 4.625%, 12/15/2027 | | | 4,968,113 | | | | 0.1 | |
| 2,410,000 | | | | | Shire Acquisitions Investments Ireland DAC, 2.400%, 09/23/2021 | | | 2,328,344 | | | | 0.0 | |
| 2,705,000 | | | | | Teleflex, Inc., 4.625%, 11/15/2027 | | | 2,613,733 | | | | 0.1 | |
| 2,070,000 | | | | | Teva Pharmaceutical Finance Netherlands III BV, 2.800%, 07/21/2023 | | | 1,755,326 | | | | 0.0 | |
| 2,440,000 | | | (2) | | Teva Pharmaceutical Finance Netherlands III BV, 3.150%, 10/01/2026 | | | 1,961,022 | | | | 0.0 | |
| 3,380,000 | | | | | Thermo Fisher Scientific, Inc., 3.150%, 01/15/2023 | | | 3,328,009 | | | | 0.1 | |
| 1,010,000 | | | | | United Rentals North America, Inc., 4.875%, 01/15/2028 | | | 977,175 | | | | 0.0 | |
| 1,490,000 | | | | | United Rentals North America, Inc., 5.500%, 07/15/2025 | | | 1,530,975 | | | | 0.0 | |
| 2,137,000 | | | | | UnitedHealth Group, Inc., 2.700%, 07/15/2020 | | | 2,127,945 | | | | 0.0 | |
| 3,310,000 | | | | | UnitedHealth Group, Inc., 4.200%, 01/15/2047 | | | 3,368,857 | | | | 0.1 | |
| 3,000,000 | | | (1) | | Universal Health Services, Inc., 4.750%, 08/01/2022 | | | 3,054,436 | | | | 0.1 | |
| 1,000,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 5.625%, 12/01/2021 | | | 958,750 | | | | 0.0 | |
| 915,000 | | | (1),(2) | | Valeant Pharmaceuticals International, 7.250%, 07/15/2022 | | | 918,431 | | | | 0.0 | |
| 1,790,000 | | | (1) | | Wm Wrigley Jr Co., 2.400%, 10/21/2018 | | | 1,787,955 | | | | 0.0 | |
| | | | | | | | | 272,946,738 | | | | 5.0 | |
| | | | | | | | | | | | | | |
| | | | | | Energy: 3.8% | | | | | | | | |
| 1,342,000 | | | | | Anadarko Petroleum Corp., 4.850%, 03/15/2021 | | | 1,396,013 | | | | 0.0 | |
| 1,020,000 | | | | | Andeavor Logistics L.P. / Tesoro Logistics Finance Corp., 5.250%, 01/15/2025 | | | 1,038,258 | | | | 0.0 | |
| 870,000 | | | | | Antero Resources Corp., 5.375%, 11/01/2021 | | | 888,487 | | | | 0.0 | |
| 1,760,000 | | | | | Antero Resources Corp., 5.625%, 06/01/2023 | | | 1,804,000 | | | | 0.0 | |
| 1,805,000 | | | | | Apache Corp., 5.100%, 09/01/2040 | | | 1,851,058 | | | | 0.0 | |
| 4,713,000 | | | | | Apache Corp., 5.250%, 02/01/2042 | | | 4,913,900 | | | | 0.1 | |
| 3,717,000 | | | | | Boardwalk Pipelines L.P., 5.950%, 06/01/2026 | | | 3,987,606 | | | | 0.1 | |
| 2,664,000 | | | | | BP Capital Markets PLC, 3.216%, 11/28/2023 | | | 2,641,787 | | | | 0.1 | |
| 5,856,000 | | | | | BP Capital Markets PLC, 3.224%, 04/14/2024 | | | 5,781,175 | | | | 0.1 | |
| 972,000 | | | | | Canadian Natural Resources Ltd.., 3.850%, 06/01/2027 | | | 951,678 | | | | 0.0 | |
| 4,000,000 | | | | | Cenovus Energy, Inc., 3.800%, 09/15/2023 | | | 3,957,052 | | | | 0.1 | |
| 1,050,000 | | | | | Cimarex Energy Co., 3.900%, 05/15/2027 | | | 1,039,533 | | | | 0.0 | |
| 5,090,000 | | | | | Cimarex Energy Co., 4.375%, 06/01/2024 | | | 5,242,746 | | | | 0.1 | |
| 2,338,000 | | | | | Columbia Pipeline Group, Inc., 4.500%, 06/01/2025 | | | 2,361,986 | | | | 0.0 | |
| 5,565,000 | | | (1) | | Continental Resources, Inc./OK, 4.375%, 01/15/2028 | | | 5,432,831 | | | | 0.1 | |
| 2,700,000 | | | | | Empresa Nacional del Petroleo, 3.750%, 08/05/2026 | | | 2,602,423 | | | | 0.1 | |
| 400,000 | | | (1) | | Empresa Nacional del Petroleo, 3.750%, 08/05/2026 | | | 385,544 | | | | 0.0 | |
| 1,523,000 | | | | | Enbridge Energy Partners L.P., 9.875%, 03/01/2019 | | | 1,614,314 | | | | 0.0 | |
| 983,000 | | | | | Enbridge, Inc., 3.500%, 06/10/2024 | | | 955,157 | | | | 0.0 | |
| 1,263,000 | | | | | Energy Transfer Partners L.P. / Regency Energy Finance Corp., 4.500%, 11/01/2023 | | | 1,280,279 | | | | 0.0 | |
| 1,217,000 | | | | | Energy Transfer Partners L.P., 4.650%, 06/01/2021 | | | 1,254,026 | | | | 0.0 | |
| 9,457,000 | | | (2) | | Energy Transfer Partners L.P., 5.300%, 04/15/2047 | | | 8,896,634 | | | | 0.2 | |
| 1,244,000 | | | | | Energy Transfer Partners L.P., 9.700%, 03/15/2019 | | | 1,319,668 | | | | 0.0 | |
| 2,347,000 | | | | | Enterprise Products Operating LLC, 3.700%, 02/15/2026 | | | 2,328,310 | | | | 0.0 | |
| 1,374,000 | | | | | Enterprise Products Operating LLC, 3.750%, 02/15/2025 | | | 1,381,439 | | | | 0.0 | |
| 3,800,000 | | | | | Enterprise Products Operating LLC, 4.875%, 08/16/2077 | | | 3,737,300 | | | | 0.1 | |
| 2,185,000 | | | | | Enterprise Products Operating LLC, 4.900%, 05/15/2046 | | | 2,333,933 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,744,000 | | | | | Enterprise Products Operating LLC, 5.375%, 02/15/2078 | | | 3,594,724 | | | | 0.1 | |
| 2,338,000 | | | | | Exxon Mobil Corp., 2.726%, 03/01/2023 | | | 2,310,737 | | | | 0.0 | |
| 3,000,000 | | | | | Gazprom OAO Via Gaz Capital SA, 4.950%, 03/23/2027 | | | 2,982,414 | | | | 0.1 | |
| 1,500,000 | | | | | Hess Corp., 5.800%, 04/01/2047 | | | 1,579,855 | | | | 0.0 | |
| 2,570,000 | | | (1) | | Hess Infrastructure Partners L.P. / Hess Infrastructure Partners Finance Corp., 5.625%, 02/15/2026 | | | 2,537,875 | | | | 0.1 | |
| 850,000 | | | | | KazMunayGas National Co. JSC, 4.750%, 04/19/2027 | | | 851,606 | | | | 0.0 | |
| 2,600,000 | | | | | KazMunayGas National Co. JSC, 4.750%, 04/19/2027 | | | 2,604,911 | | | | 0.1 | |
| 1,295,000 | | | | | Kinder Morgan Energy Partners L.P., 4.250%, 09/01/2024 | | | 1,303,926 | | | | 0.0 | |
| 638,000 | | | | | Kinder Morgan Energy Partners L.P., 4.300%, 05/01/2024 | | | 643,412 | | | | 0.0 | |
| 1,947,000 | | | | | Kinder Morgan Energy Partners L.P., 5.400%, 09/01/2044 | | | 1,975,133 | | | | 0.0 | |
| 4,245,000 | | | | | Kinder Morgan, Inc./DE, 4.300%, 06/01/2025 | | | 4,281,547 | | | | 0.1 | |
| 1,846,000 | | | | | Kinder Morgan, Inc./DE, 4.300%, 03/01/2028 | | | 1,842,107 | | | | 0.0 | |
| 4,507,000 | | | | | Kinder Morgan, Inc./DE, 5.550%, 06/01/2045 | | | 4,749,192 | | | | 0.1 | |
| 1,443,000 | | | | | Marathon Petroleum Corp., 5.000%, 09/15/2054 | | | 1,405,557 | | | | 0.0 | |
| 6,904,000 | | | | | MPLX L.P., 4.125%, 03/01/2027 | | | 6,868,123 | | | | 0.1 | |
| 4,935,000 | | | | | Murphy Oil Corp., 5.750%, 08/15/2025 | | | 4,873,312 | | | | 0.1 | |
| 555,000 | | | | | Noble Energy, Inc., 3.850%, 01/15/2028 | | | 546,411 | | | | 0.0 | |
| 3,439,000 | | | | | Occidental Petroleum Corp., 3.500%, 06/15/2025 | | | 3,446,929 | | | | 0.1 | |
| 2,530,000 | | | | | Occidental Petroleum Corp., 4.200%, 03/15/2048 | | | 2,550,423 | | | | 0.1 | |
| 3,595,000 | | | | | Occidental Petroleum Corp., 4.625%, 06/15/2045 | | | 3,826,299 | | | | 0.1 | |
| 3,660,000 | | | | | ONEOK Partners L.P., 3.375%, 10/01/2022 | | | 3,605,048 | | | | 0.1 | |
| 2,018,000 | | | | | ONEOK, Inc., 6.000%, 06/15/2035 | | | 2,276,189 | | | | 0.0 | |
| 400,000 | | | | | Pertamina Persero PT, 4.300%, 05/20/2023 | | | 404,097 | | | | 0.0 | |
| 750,000 | | | | | Pertamina Persero PT, 5.625%, 05/20/2043 | | | 770,849 | | | | 0.0 | |
| 5,050,000 | | | | | Petrobras Global Finance BV, 5.750%, 02/01/2029 | | | 4,894,106 | | | | 0.1 | |
| 4,750,000 | | | | | Petroleos del Peru SA, 4.750%, 06/19/2032 | | | 4,641,225 | | | | 0.1 | |
| 4,000,000 | | | (1) | | Petroleos del Peru SA, 4.750%, 06/19/2032 | | | 3,908,400 | | | | 0.1 | |
| 550,000 | | | (2) | | Petroleos Mexicanos, 4.500%, 01/23/2026 | | | 534,600 | | | | 0.0 | |
| 330,000 | | | | | Petroleos Mexicanos, 4.875%, 01/18/2024 | | | 335,610 | | | | 0.0 | |
| 1,370,000 | | | | | Petroleos Mexicanos, 5.500%, 06/27/2044 | | | 1,223,410 | | | | 0.0 | |
| 5,550,000 | | | | | Petroleos Mexicanos, 6.500%, 03/13/2027 | | | 5,934,337 | | | | 0.1 | |
| 4,550,000 | | | | | Petroleos Mexicanos, 6.875%, 08/04/2026 | | | 4,992,715 | | | | 0.1 | |
| 660,001 | | | | | Petroleum Co. of Trinidad & Tobago Ltd., 6.000%, 05/08/2022 | | | 666,601 | | | | 0.0 | |
| 2,988,000 | | | | | Phillips 66 Partners L.P., 3.550%, 10/01/2026 | | | 2,846,804 | | | | 0.1 | |
| 4,280,000 | | | | | Schlumberger Investment SA, 3.650%, 12/01/2023 | | | 4,351,754 | | | | 0.1 | |
| 4,235,000 | | | | | Shell International Finance BV, 3.250%, 05/11/2025 | | | 4,196,816 | | | | 0.1 | |
| 4,432,000 | | | | | Shell International Finance BV, 4.000%, 05/10/2046 | | | 4,463,186 | | | | 0.1 | |
| 2,253,000 | | | | | Shell International Finance BV, 4.375%, 05/11/2045 | | | 2,395,786 | | | | 0.0 | |
| 5,165,000 | | | | | Summit Midstream Holdings LLC / Summit Midstream Finance Corp., 5.750%, 04/15/2025 | | | 4,945,488 | | | | 0.1 | |
| 5,503,000 | | | | | Sunoco Logistics Partners Operations L.P., 4.000%, 10/01/2027 | | | 5,219,721 | | | | 0.1 | |
| 937,000 | | | | | Sunoco Logistics Partners Operations L.P., 4.250%, 04/01/2024 | | | 932,540 | | | | 0.0 | |
| 1,003,000 | | | | | Sunoco Logistics Partners Operations L.P., 5.350%, 05/15/2045 | | | 936,194 | | | | 0.0 | |
| 5,175,000 | | | (1) | | Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp., 5.500%, 01/15/2028 | | | 5,226,750 | | | | 0.1 | |
| 4,143,000 | | | | | Total Capital Canada Ltd., 2.750%, 07/15/2023 | | | 4,029,670 | | | | 0.1 | |
| 1,370,000 | | | | | Western Gas Partners L.P., 5.375%, 06/01/2021 | | | 1,430,045 | | | | 0.0 | |
| 5,102,000 | | | | | Williams Partners L.P., 3.600%, 03/15/2022 | | | 5,085,592 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,324,000 | | | | | Williams Partners L.P., 5.400%, 03/04/2044 | | | 3,489,074 | | | | 0.1 | |
| | | | | | | | | 209,888,237 | | | | 3.8 | |
| | | | | | | | | | | | | | |
| | | | | | Financial: 9.1% | | | | | | | | |
| 4,980,000 | | | | | American International Group, Inc., 3.375%, 08/15/2020 | | | 5,003,909 | | | | 0.1 | |
| 2,433,000 | | | | | American International Group, Inc., 4.500%, 07/16/2044 | | | 2,392,374 | | | | 0.0 | |
| 1,480,000 | | | | | American International Group, Inc., 4.800%, 07/10/2045 | | | 1,520,588 | | | | 0.0 | |
| 2,495,000 | | | | | American International Group, Inc., 6.400%, 12/15/2020 | | | 2,692,686 | | | | 0.1 | |
| 88,000 | | | | | American International Group, Inc., 8.175%, 05/15/2058 | | | 117,260 | | | | 0.0 | |
| 5,070,000 | | | | | American Express Co., 2.200%, 10/30/2020 | | | 4,946,672 | | | | 0.1 | |
| 2,224,000 | | | | | American Tower Corp., 3.500%, 01/31/2023 | | | 2,213,215 | | | | 0.0 | |
| 1,373,000 | | | | | Aon PLC, 4.750%, 05/15/2045 | | | 1,430,777 | | | | 0.0 | |
| 1,811,000 | | | | | Arch Capital Finance LLC, 5.031%, 12/15/2046 | | | 2,006,073 | | | | 0.0 | |
| 1,470,000 | | | | | Arch Capital Group US, Inc., 5.144%, 11/01/2043 | | | 1,627,650 | | | | 0.0 | |
| 7,500,000 | | | (2) | | Assurant, Inc., 4.900%, 03/27/2028 | | | 7,680,193 | | | | 0.1 | |
| 12,511,000 | | | | | Athene Holding Ltd., 4.125%, 01/12/2028 | | | 12,021,131 | | | | 0.2 | |
| 1,163,000 | | | (1) | | Australia & New Zealand Banking Group Ltd., 4.400%, 05/19/2026 | | | 1,169,252 | | | | 0.0 | |
| 4,140,000 | | | | | Australia & New Zealand Banking Group Ltd/New York NY, 2.250%, 11/09/2020 | | | 4,058,384 | | | | 0.1 | |
| 400,000 | | | (1) | | Banco de Reservas de la Republica Dominicana, 7.000%, 02/01/2023 | | | 420,000 | | | | 0.0 | |
| 764,000 | | | | | Banco Nacional de Comercio Exterior SNC/Cayman Islands, 4.375%, 10/14/2025 | | | 771,640 | | | | 0.0 | |
| 375,000 | | | | | Banco Nacional de Desenvolvimento Economico e Social, 5.750%, 09/26/2023 | | | 402,188 | | | | 0.0 | |
| 4,600,000 | | | | | Banco Santander SA, 3.125%, 02/23/2023 | | | 4,461,389 | | | | 0.1 | |
| 6,000,000 | | | (1) | | Bank of America Corp., 3.419%, 12/20/2028 | | | 5,750,310 | | | | 0.1 | |
| 3,620,000 | | | | | Bank of America Corp., 3.550%, 03/05/2024 | | | 3,632,257 | | | | 0.1 | |
| 2,470,000 | | | | | Bank of America Corp., 3.593%, 07/21/2028 | | | 2,400,215 | | | | 0.0 | |
| 1,941,000 | | | | | Bank of America Corp., 3.950%, 04/21/2025 | | | 1,924,619 | | | | 0.0 | |
| 4,614,000 | | | | | Bank of America Corp., 3.970%, 03/05/2029 | | | 4,628,282 | | | | 0.1 | |
| 9,581,000 | | | | | Bank of America Corp., 4.183%, 11/25/2027 | | | 9,510,209 | | | | 0.2 | |
| 3,931,000 | | | | | Bank of America Corp., 4.200%, 08/26/2024 | | | 3,988,618 | | | | 0.1 | |
| 4,495,000 | | | | | Bank of America Corp., 4.250%, 10/22/2026 | | | 4,528,513 | | | | 0.1 | |
| 5,594,000 | | | | | Bank of Montreal, 3.803%, 12/15/2032 | | | 5,306,580 | | | | 0.1 | |
| 6,210,000 | | | (1) | | BNP Paribas SA, 3.500%, 03/01/2023 | | | 6,174,759 | | | | 0.1 | |
| 5,740,000 | | | (1) | | BNP Paribas SA, 4.375%, 03/01/2033 | | | 5,621,412 | | | | 0.1 | |
| 5,019,000 | | | (1),(2) | | BNP Paribas SA, 5.125%, 12/31/2199 | | | 4,639,438 | | | | 0.1 | |
| 1,333,000 | | | | | BPCE SA, 2.500%, 12/10/2018 | | | 1,330,801 | | | | 0.0 | |
| 4,034,000 | | | | | CBL & Associates L.P., 5.950%, 12/15/2026 | | | 3,398,130 | | | | 0.1 | |
| 5,170,000 | | | | | Citigroup, Inc., 2.876%, 07/24/2023 | | | 5,034,190 | | | | 0.1 | |
| 3,380,000 | | | | | Citigroup, Inc., 3.200%, 10/21/2026 | | | 3,218,848 | | | | 0.1 | |
| 3,470,000 | | | | | Citigroup, Inc., 4.125%, 07/25/2028 | | | 3,430,946 | | | | 0.1 | |
| 3,851,000 | | | | | Citigroup, Inc., 4.450%, 09/29/2027 | | | 3,898,458 | | | | 0.1 | |
| 4,915,000 | | | | | Citigroup, Inc., 5.500%, 09/13/2025 | | | 5,334,716 | | | | 0.1 | |
| 1,147,000 | | | (1) | | Citizens Financial Group, Inc., 4.150%, 09/28/2022 | | | 1,161,004 | | | | 0.0 | |
| 2,330,000 | | | (1) | | Commerzbank AG, 8.125%, 09/19/2023 | | | 2,716,165 | | | | 0.1 | |
| 1,872,000 | | | (1) | | Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands, 11.000%, 12/31/2199 | | | 2,054,071 | | | | 0.0 | |
| 3,550,000 | | | | | Cooperatieve Rabobank UA, 4.375%, 08/04/2025 | | | 3,589,306 | | | | 0.1 | |
| 6,090,000 | | | (1) | | Credit Agricole SA/London, 2.375%, 07/01/2021 | | | 5,917,942 | | | | 0.1 | |
| 6,068,000 | | | (1) | | Credit Suisse AG, 6.500%, 08/08/2023 | | | 6,610,940 | | | | 0.1 | |
| 4,759,000 | | | (1) | | Credit Suisse Group AG, 3.574%, 01/09/2023 | | | 4,733,687 | | | | 0.1 | |
| 1,170,000 | | | (1) | | Credit Suisse Group AG, 3.869%, 01/12/2029 | | | 1,133,844 | | | | 0.0 | |
| 1,441,000 | | | (1) | | Credit Suisse Group AG, 4.282%, 01/09/2028 | | | 1,444,399 | | | | 0.0 | |
| 2,470,000 | | | | | Credit Suisse Group Funding Guernsey Ltd., 3.450%, 04/16/2021 | | | 2,470,856 | | | | 0.0 | |
| 3,190,000 | | | | | Credit Suisse Group Funding Guernsey Ltd., 3.800%, 09/15/2022 | | | 3,214,554 | | | | 0.1 | |
| 805,000 | | | | | Discover Financial Services, 3.850%, 11/21/2022 | | | 806,396 | | | | 0.0 | |
| 1,990,000 | | | | | Discover Financial Services, 5.200%, 04/27/2022 | | | 2,088,069 | | | | 0.0 | |
| 7,675,000 | | | (1) | | ESH Hospitality, Inc., 5.250%, 05/01/2025 | | | 7,485,427 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,310,000 | | | (1) | | Federation des Caisses Desjardins du Quebec, 2.250%, 10/30/2020 | | | 3,245,777 | | | | 0.1 | |
| 5,464,000 | | | | | First Tennessee Bank NA, 2.950%, 12/01/2019 | | | 5,453,217 | | | | 0.1 | |
| 750,000 | | | | | Fondo MIVIVIENDA SA, 3.500%, 01/31/2023 | | | 736,875 | | | | 0.0 | |
| 1,516,000 | | | | | GE Capital International Funding Co. Unlimited Co., 2.342%, 11/15/2020 | | | 1,482,921 | | | | 0.0 | |
| 1,989,000 | | | | | GE Capital International Funding Co. Unlimited Co., 4.418%, 11/15/2035 | | | 1,940,968 | | | | 0.0 | |
| 2,426,000 | | | | | Goldman Sachs Group, Inc./The, 2.625%, 04/25/2021 | | | 2,377,372 | | | | 0.0 | |
| 5,253,000 | | | | | Goldman Sachs Group, Inc./The, 3.500%, 11/16/2026 | | | 5,063,257 | | | | 0.1 | |
| 3,683,000 | | | | | Goldman Sachs Group, Inc., 2.600%, 04/23/2020 | | | 3,650,135 | | | | 0.1 | |
| 5,493,000 | | | | | Goldman Sachs Group, Inc., 4.250%, 10/21/2025 | | | 5,523,521 | | | | 0.1 | |
| 1,680,000 | | | | | Goldman Sachs Group, Inc., 5.150%, 05/22/2045 | | | 1,813,521 | | | | 0.0 | |
| 1,101,000 | | | | | Goldman Sachs Group, Inc., 6.750%, 10/01/2037 | | | 1,379,872 | | | | 0.0 | |
| 2,100,000 | | | (1) | | Guardian Life Insurance Co. of America/The, 4.850%, 01/24/2077 | | | 2,165,764 | | | | 0.0 | |
| 1,980,000 | | | | | Hartford Financial Services Group, Inc., 8.125%, 06/15/2068 | | | 2,004,750 | | | | 0.0 | |
| 1,763,000 | | | (1) | | HBOS PLC, 6.750%, 05/21/2018 | | | 1,772,284 | | | | 0.0 | |
| 1,001,000 | | | (1) | | HSBC Bank PLC, 4.125%, 08/12/2020 | | | 1,023,053 | | | | 0.0 | |
| 3,730,000 | | | | | HSBC Holdings PLC, 3.400%, 03/08/2021 | | | 3,748,209 | | | | 0.1 | |
| 5,998,000 | | | | | HSBC Holdings PLC, 4.041%, 03/13/2028 | | | 5,996,708 | | | | 0.1 | |
| 2,010,000 | | | (1) | | ING Bank NV, 2.000%, 11/26/2018 | | | 2,002,088 | | | | 0.0 | |
| 1,037,000 | | | (1) | | International Lease Finance Corp., 7.125%, 09/01/2018 | | | 1,054,376 | | | | 0.0 | |
| 5,595,000 | | | (1) | | Iron Mountain, Inc., 5.250%, 03/15/2028 | | | 5,294,269 | | | | 0.1 | |
| 3,604,000 | | | | | JPMorgan Chase & Co., 2.550%, 10/29/2020 | | | 3,560,082 | | | | 0.1 | |
| 4,330,000 | | | | | JPMorgan Chase & Co., 3.200%, 01/25/2023 | | | 4,290,380 | | | | 0.1 | |
| 3,320,000 | | | | | JPMorgan Chase & Co., 3.509%, 01/23/2029 | | | 3,224,380 | | | | 0.1 | |
| 6,919,000 | | | | | JPMorgan Chase & Co., 3.882%, 07/24/2038 | | | 6,726,345 | | | | 0.1 | |
| 6,900,000 | | | | | JPMorgan Chase & Co., 3.897%, 01/23/2049 | | | 6,593,181 | | | | 0.1 | |
| 7,118,000 | | | | | JPMorgan Chase & Co., 3.900%, 07/15/2025 | | | 7,178,477 | | | | 0.1 | |
| 2,400,000 | | | | | JPMorgan Chase & Co., 4.032%, 07/24/2048 | | | 2,342,171 | | | | 0.0 | |
| 980,000 | | | | | JPMorgan Chase & Co., 4.625%, 12/31/2199 | | | 935,900 | | | | 0.0 | |
| 3,229,000 | | | | | Kite Realty Group L.P., 4.000%, 10/01/2026 | | | 3,028,376 | | | | 0.1 | |
| 433,000 | | | (1) | | Liberty Mutual Group, Inc., 4.850%, 08/01/2044 | | | 450,708 | | | | 0.0 | |
| 5,810,000 | | | | | Lloyds Banking Group PLC, 2.907%, 11/07/2023 | | | 5,605,118 | | | | 0.1 | |
| 3,362,000 | | | | | Lloyds Banking Group PLC, 3.574%, 11/07/2028 | | | 3,177,331 | | | | 0.1 | |
| 9,620,000 | | | (1) | | Macquarie Group Ltd, 3.189%, 11/28/2023 | | | 9,286,475 | | | | 0.2 | |
| 4,027,000 | | | (1) | | Macquarie Group Ltd, 3.763%, 11/28/2028 | | | 3,810,819 | | | | 0.1 | |
| 1,976,000 | | | | | Marsh & McLennan Cos, Inc., 4.200%, 03/01/2048 | | | 1,999,971 | | | | 0.0 | |
| 4,200,000 | | | | | Mitsubishi UFJ Financial Group, Inc., 2.665%, 07/25/2022 | | | 4,070,336 | | | | 0.1 | |
| 5,500,000 | | | | | Mizuho Financial Group Cayman 2 Ltd., 4.200%, 07/18/2022 | | | 5,571,022 | | | | 0.1 | |
| 5,080,000 | | | (1) | | Mizuho Financial Group, Inc., 2.632%, 04/12/2021 | | | 4,980,578 | | | | 0.1 | |
| 6,933,000 | | | | | Morgan Stanley, 2.750%, 05/19/2022 | | | 6,763,112 | | | | 0.1 | |
| 6,558,000 | | | | | Morgan Stanley, 3.125%, 07/27/2026 | | | 6,208,854 | | | | 0.1 | |
| 2,695,000 | | | | | Morgan Stanley, 3.591%, 07/22/2028 | | | 2,608,038 | | | | 0.1 | |
| 4,500,000 | | | | | Morgan Stanley, 3.772%, 01/24/2029 | | | 4,432,595 | | | | 0.1 | |
| 1,772,000 | | | | | Morgan Stanley, 3.950%, 04/23/2027 | | | 1,727,462 | | | | 0.0 | |
| 5,524,000 | | | | | Morgan Stanley, 4.000%, 07/23/2025 | | | 5,574,700 | | | | 0.1 | |
| 6,990,000 | | | (1) | | Nationwide Building Society, 2.350%, 01/21/2020 | | | 6,900,704 | | | | 0.1 | |
| 5,132,000 | | | (1) | | Nationwide Building Society, 4.302%, 03/08/2029 | | | 5,123,435 | | | | 0.1 | |
| 11,000,000 | | | (1) | | New York Life Global Funding, 3.000%, 01/10/2028 | | | 10,483,520 | | | | 0.2 | |
| 1,345,000 | | | (1) | | Nordea Bank AB, 6.125%, 12/31/2199 | | | 1,395,438 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
DKK | 10 | | | | | Nordea Kredit Realkreditaktieselskab, 6.000%, 07/01/2029 | | | – | | | | – | |
| 7,860,000 | | | | | ORIX Corp., 3.250%, 12/04/2024 | | | 7,640,097 | | | | 0.1 | |
| 5,470,000 | | | | | PNC Bank NA, 2.700%, 11/01/2022 | | | 5,297,375 | | | | 0.1 | |
| 2,000,000 | | | | | Power Sector Assets & Liabilities Management Corp., 7.390%, 12/02/2024 | | | 2,436,822 | | | | 0.0 | |
| 5,575,000 | | | (1) | | Quicken Loans, Inc., 5.250%, 01/15/2028 | | | 5,226,563 | | | | 0.1 | |
| 9,148,000 | | | | | Royal Bank of Scotland Group PLC, 3.875%, 09/12/2023 | | | 9,041,801 | | | | 0.2 | |
| 2,988,000 | | | | | Santander UK Group Holdings PLC, 3.571%, 01/10/2023 | | | 2,957,352 | | | | 0.1 | |
| 1,500,000 | | | (1) | | Santander UK Group Holdings PLC, 5.625%, 09/15/2045 | | | 1,661,636 | | | | 0.0 | |
| 3,173,000 | | | | | Santander UK PLC, 2.375%, 03/16/2020 | | | 3,129,550 | | | | 0.1 | |
| 1,612,000 | | | | | Select Income REIT, 4.150%, 02/01/2022 | | | 1,612,864 | | | | 0.0 | |
| 4,118,000 | | | | | Senior Housing Properties Trust, 3.250%, 05/01/2019 | | | 4,121,646 | | | | 0.1 | |
| 5,830,000 | | | | | Senior Housing Properties Trust, 4.750%, 02/15/2028 | | | 5,719,247 | | | | 0.1 | |
| 4,156,000 | | | (1) | | Societe Generale SA, 2.625%, 09/16/2020 | | | 4,100,811 | | | | 0.1 | |
| 2,550,000 | | | (1) | | Standard Chartered PLC, 3.885%, 03/15/2024 | | | 2,530,434 | | | | 0.1 | |
| 5,808,000 | | | (1),(2) | | Standard Chartered PLC, 4.300%, 02/19/2027 | | | 5,695,145 | | | | 0.1 | |
| 3,930,000 | | | | | Standard Chartered PLC, 5.300%, 01/09/2043 | | | 4,075,364 | | | | 0.1 | |
| 2,217,000 | | | | | Sumitomo Mitsui Financial Group, Inc., 2.442%, 10/19/2021 | | | 2,153,852 | | | | 0.0 | |
| 300,000 | | | | | Sumitomo Mitsui Financial Group, Inc., 3.010%, 10/19/2026 | | | 282,042 | | | | 0.0 | |
| 4,226,000 | | | | | Sumitomo Mitsui Financial Group, Inc., 3.364%, 07/12/2027 | | | 4,070,863 | | | | 0.1 | |
| 5,910,000 | | | (1) | | Suncorp-Metway Ltd, 2.375%, 11/09/2020 | | | 5,788,745 | | | | 0.1 | |
| 8,732,000 | | | | | Synovus Financial Corp., 3.125%, 11/01/2022 | | | 8,455,456 | | | | 0.2 | |
| 3,700,000 | | | | | Toronto-Dominion Bank/The, 1.900%, 10/24/2019 | | | 3,651,042 | | | | 0.1 | |
| 1,061,000 | | | | | Toronto-Dominion Bank, 3.625%, 09/15/2031 | | | 1,017,513 | | | | 0.0 | |
| 2,283,000 | | | | | Trinity Acquisition PLC, 6.125%, 08/15/2043 | | | 2,708,547 | | | | 0.1 | |
| 2,000,000 | | | (1) | | Turkiye Vakiflar Bankasi TAO, 5.750%, 01/30/2023 | | | 1,951,536 | | | | 0.0 | |
| 4,260,000 | | | (1) | | UBS AG/London, 2.450%, 12/01/2020 | | | 4,185,872 | | | | 0.1 | |
| 3,080,000 | | | | | UBS AG/Stamford CT, 2.350%, 03/26/2020 | | | 3,037,337 | | | | 0.1 | |
| 1,470,000 | | | | | UBS AG/Stamford CT, 7.625%, 08/17/2022 | | | 1,653,750 | | | | 0.0 | |
| 3,180,000 | | | | | UBS AG, 5.125%, 05/15/2024 | | | 3,252,536 | | | | 0.1 | |
| 4,990,000 | | | (1) | | UniCredit SpA, 5.861%, 06/19/2032 | | | 5,078,373 | | | | 0.1 | |
| 5,900,000 | | | | | Wells Fargo & Co., 3.584%, 05/22/2028 | | | 5,759,875 | | | | 0.1 | |
| 3,741,000 | | | | | Wells Fargo & Co., 4.100%, 06/03/2026 | | | 3,719,512 | | | | 0.1 | |
| 3,631,000 | | | | | Wells Fargo & Co., 4.750%, 12/07/2046 | | | 3,723,053 | | | | 0.1 | |
| 2,511,000 | | | | | XLIT Ltd., 5.500%, 03/31/2045 | | | 2,759,878 | | | | 0.1 | |
| | | | | | | | | 498,388,276 | | | | 9.1 | |
| | | | | | | | | | | | | | |
| | | | | | Industrial: 1.6% | | | | | | | | |
| 2,695,000 | | | | | AECOM, 5.125%, 03/15/2027 | | | 2,610,781 | | | | 0.0 | |
| 2,020,000 | | | | | Amphenol Corp., 3.200%, 04/01/2024 | | | 1,967,465 | | | | 0.0 | |
| 4,270,000 | | | (1) | | Aviation Capital Group LLC, 2.875%, 01/20/2022 | | | 4,184,524 | | | | 0.1 | |
| 2,530,000 | | | | | BNSF Funding Trust I, 6.613%, 12/15/2055 | | | 2,827,275 | | | | 0.1 | |
| 3,130,000 | | | | | Burlington Northern Santa Fe LLC, 5.150%, 09/01/2043 | | | 3,625,048 | | | | 0.1 | |
| 4,675,000 | | | | | CNH Industrial NV, 4.500%, 08/15/2023 | | | 4,769,575 | | | | 0.1 | |
| 6,385,000 | | | (1) | | CRH America Finance, Inc., 3.950%, 04/04/2028 | | | 6,373,406 | | | | 0.1 | |
| 2,715,000 | | | | | CSX Corp., 4.650%, 03/01/2068 | | | 2,640,869 | | | | 0.1 | |
| 200,000 | | | | | Empresa de Transporte de Pasajeros Metro SA, 5.000%, 01/25/2047 | | | 207,000 | | | | 0.0 | |
| 1,000,000 | | | (1) | | Empresa de Transporte de Pasajeros Metro SA, 5.000%, 01/25/2047 | | | 1,035,000 | | | | 0.0 | |
| 5,000,000 | | | | | FedEx Corp., 4.050%, 02/15/2048 | | | 4,705,494 | | | | 0.1 | |
| 2,647,000 | | | | | FedEx Corp., 4.400%, 01/15/2047 | | | 2,619,562 | | | | 0.0 | |
| 3,232,000 | | | | | General Electric Co., 4.500%, 03/11/2044 | | | 3,183,493 | | | | 0.1 | |
| 3,588,000 | | | | | General Electric Co., 5.000%, 12/31/2199 | | | 3,556,605 | | | | 0.1 | |
| 600,000 | | | (1) | | Kazakhstan Temir Zholy Finance BV, 6.950%, 07/10/2042 | | | 672,624 | | | | 0.0 | |
| 1,625,000 | | | | | Norfolk Southern Corp., 4.150%, 02/28/2048 | | | 1,613,961 | | | | 0.0 | |
| 4,550,000 | | | | | Northrop Grumman Corp., 2.930%, 01/15/2025 | | | 4,366,920 | | | | 0.1 | |
| 4,337,000 | | | | | Northrop Grumman Corp., 4.030%, 10/15/2047 | | | 4,173,327 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 5,190,000 | | | (1),(2) | | Novelis Corp., 5.875%, 09/30/2026 | | | 5,125,125 | | | | 0.1 | |
| 2,190,000 | | | (1) | | Owens-Brockway Glass Container, Inc., 5.875%, 08/15/2023 | | | 2,270,756 | | | | 0.0 | |
| 2,335,000 | | | | | Rockwell Collins, Inc., 3.200%, 03/15/2024 | | | 2,271,711 | | | | 0.0 | |
| 1,445,000 | | | | | Rockwell Collins, Inc., 3.500%, 03/15/2027 | | | 1,395,849 | | | | 0.0 | |
| 2,570,000 | | | (1) | | SMBC Aviation Capital Finance DAC, 2.650%, 07/15/2021 | | | 2,504,967 | | | | 0.0 | |
| 5,055,000 | | | (1) | | Standard Industries, Inc./NJ, 5.000%, 02/15/2027 | | | 4,919,476 | | | | 0.1 | |
| 1,000,000 | | | | | Transnet SOC Ltd., 4.000%, 07/26/2022 | | | 977,208 | | | | 0.0 | |
| 3,920,000 | | | | | United Parcel Service, Inc., 2.050%, 04/01/2021 | | | 3,834,849 | | | | 0.1 | |
| 2,690,000 | | | | | United Parcel Service, Inc., 2.500%, 04/01/2023 | | | 2,607,423 | | | | 0.0 | |
| 9,571,000 | | | | | United Parcel Service, Inc., 3.050%, 11/15/2027 | | | 9,216,846 | | | | 0.2 | |
| | | | | | | | | 90,257,139 | | | | 1.6 | |
| | | | | | | | | | | | | | |
| | | | | | Technology: 2.2% | | | | | | | | |
| 2,052,000 | | | | | Analog Devices, Inc., 3.500%, 12/05/2026 | | | 2,003,031 | | | | 0.0 | |
| 3,530,000 | | | | | Apple, Inc., 2.000%, 11/13/2020 | | | 3,469,325 | | | | 0.1 | |
| 5,120,000 | | | (2) | | Apple, Inc., 2.400%, 01/13/2023 | | | 4,973,551 | | | | 0.1 | |
| 3,700,000 | | | | | Apple, Inc., 2.750%, 01/13/2025 | | | 3,562,373 | | | | 0.1 | |
| 5,925,000 | | | | | Apple, Inc., 3.000%, 06/20/2027 | | | 5,714,572 | | | | 0.1 | |
| 7,148,000 | | | | | Apple, Inc., 3.000%, 11/13/2027 | | | 6,849,496 | | | | 0.1 | |
| 4,703,000 | | | | | Apple, Inc., 3.350%, 02/09/2027 | | | 4,648,349 | | | | 0.1 | |
| 4,490,000 | | | | | Apple, Inc., 3.750%, 09/12/2047 | | | 4,342,448 | | | | 0.1 | |
| 2,000,000 | | | (2) | | Apple, Inc., 3.750%, 11/13/2047 | | | 1,932,488 | | | | 0.0 | |
| 963,000 | | | | | Apple, Inc., 4.450%, 05/06/2044 | | | 1,039,303 | | | | 0.0 | |
| 7,366,000 | | | | | Apple, Inc., 4.650%, 02/23/2046 | | | 8,116,491 | | | | 0.2 | |
| 3,110,000 | | | | | Broadcom Corp. / Broadcom Cayman Finance Ltd., 3.625%, 01/15/2024 | | | 3,062,135 | | | | 0.1 | |
| 2,520,000 | | | | | CDW LLC / CDW Finance Corp., 5.000%, 09/01/2025 | | | 2,520,000 | | | | 0.0 | |
| 1,608,000 | | | (1) | | Dell International LLC / EMC Corp., 4.420%, 06/15/2021 | | | 1,650,331 | | | | 0.0 | |
| 7,406,000 | | | (1) | | Dell International LLC / EMC Corp., 5.450%, 06/15/2023 | | | 7,856,524 | | | | 0.1 | |
| 4,880,000 | | | (1) | | Dell International LLC / EMC Corp., 6.020%, 06/15/2026 | | | 5,260,797 | | | | 0.1 | |
| 4,935,000 | | | (1) | | First Data Corp., 5.750%, 01/15/2024 | | | 4,984,350 | | | | 0.1 | |
| 1,544,000 | | | | | Hewlett Packard Enterprise Co., 4.400%, 10/15/2022 | | | 1,599,059 | | | | 0.0 | |
| 2,289,000 | | | | | International Business Machines Corp., 2.875%, 11/09/2022 | | | 2,259,623 | | | | 0.0 | |
| 4,100,000 | | | | | IBM Credit LLC, 3.000%, 02/06/2023 | | | 4,058,135 | | | | 0.1 | |
| 3,100,000 | | | | | Intel Corp., 2.875%, 05/11/2024 | | | 3,031,829 | | | | 0.1 | |
| 1,241,000 | | | | | KLA-Tencor Corp., 4.125%, 11/01/2021 | | | 1,277,060 | | | | 0.0 | |
| 4,477,000 | | | | | Microsoft Corp., 3.700%, 08/08/2046 | | | 4,420,323 | | | | 0.1 | |
| 5,345,000 | | | | | Microsoft Corp., 4.250%, 02/06/2047 | | | 5,754,549 | | | | 0.1 | |
| 4,216,000 | | | | | Microsoft Corp., 4.450%, 11/03/2045 | | | 4,670,351 | | | | 0.1 | |
| 2,062,000 | | | | | Oracle Corp., 3.850%, 07/15/2036 | | | 2,043,840 | | | | 0.0 | |
| 3,780,000 | | | | | Oracle Corp., 4.000%, 11/15/2047 | | | 3,740,729 | | | | 0.1 | |
| 2,995,000 | | | | | Oracle Corp., 4.300%, 07/08/2034 | | | 3,163,859 | | | | 0.1 | |
| 4,700,000 | | | | | Qualcomm, Inc., 1.850%, 05/20/2019 | | | 4,668,004 | | | | 0.1 | |
| 2,760,000 | | | | | Qualcomm, Inc., 3.250%, 05/20/2027 | | | 2,625,013 | | | | 0.0 | |
| 2,985,000 | | | | | Western Digital Corp., 4.750%, 02/15/2026 | | | 2,984,030 | | | | 0.1 | |
| | | | | | | | | 118,281,968 | | | | 2.2 | |
| | | | | | | | | | | | | | |
| | | | | | Utilities: 2.8% | | | | | | | | |
| 2,200,000 | | | | | Alabama Power Co., 5.700%, 02/15/2033 | | | 2,658,048 | | | | 0.1 | |
| 1,927,000 | | | | | Ameren Corp., 2.700%, 11/15/2020 | | | 1,907,460 | | | | 0.0 | |
| 8,500,000 | | | (1) | | American Transmission Systems, Inc., 5.000%, 09/01/2044 | | | 9,584,493 | | | | 0.2 | |
| 1,432,000 | | | | | Baltimore Gas & Electric Co., 3.350%, 07/01/2023 | | | 1,439,742 | | | | 0.0 | |
| 4,000,000 | | | (1) | | Berkshire Hathaway Energy Co., 3.800%, 07/15/2048 | | | 3,822,243 | | | | 0.1 | |
| 1,720,000 | | | | | Black Hills Corp., 4.250%, 11/30/2023 | | | 1,775,029 | | | | 0.0 | |
| 5,315,000 | | | (1) | | Calpine Corp., 5.250%, 06/01/2026 | | | 5,148,906 | | | | 0.1 | |
| 566,000 | | | | | CenterPoint Energy Houston Electric LLC, 3.550%, 08/01/2042 | | | 538,267 | | | | 0.0 | |
| 2,166,000 | | | (1) | | Cleveland Electric Illuminating Co/The, 3.500%, 04/01/2028 | | | 2,073,389 | | | | 0.0 | |
| 1,750,000 | | | | | Comision Federal de Electricidad, 4.750%, 02/23/2027 | | | 1,760,938 | | | | 0.0 | |
| 1,400,000 | | | (1) | | Comision Federal de Electricidad, 4.750%, 02/23/2027 | | | 1,408,750 | | | | 0.0 | |
| 4,990,000 | | | | | Commonwealth Edison Co., 3.750%, 08/15/2047 | | | 4,787,104 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 2,009,000 | | | | | Consolidated Edison Co. of New York, Inc., 2.900%, 12/01/2026 | | | 1,919,893 | | | | 0.0 | |
| 1,864,000 | | | | | Consolidated Edison Co. of New York, Inc., 4.000%, 11/15/2057 | | | 1,827,622 | | | | 0.0 | |
| 1,539,000 | | | | | Duke Energy Carolinas LLC, 2.950%, 12/01/2026 | | | 1,485,435 | | | | 0.0 | |
| 2,340,000 | | | | | Duke Energy Carolinas LLC, 3.700%, 12/01/2047 | | | 2,257,375 | | | | 0.0 | |
| 3,032,000 | | | | | Duke Energy Carolinas LLC, 3.875%, 03/15/2046 | | | 2,994,071 | | | | 0.1 | |
| 1,760,000 | | | | | Duke Energy Corp., 2.100%, 06/15/2018 | | | 1,758,297 | | | | 0.0 | |
| 6,200,000 | | | | | Duke Energy Corp., 3.950%, 08/15/2047 | | | 5,832,537 | | | | 0.1 | |
| 7,300,000 | | | (1) | | Enel Finance International NV, 3.500%, 04/06/2028 | | | 6,841,950 | | | | 0.1 | |
| 3,100,000 | | | | | Entergy Arkansas, Inc., 3.500%, 04/01/2026 | | | 3,093,586 | | | | 0.1 | |
| 782,000 | | | | | Entergy Texas, Inc., 7.125%, 02/01/2019 | | | 807,697 | | | | 0.0 | |
| 12,000,000 | | �� | | | Eversource Energy, 3.300%, 01/15/2028 | | | 11,578,110 | | | | 0.2 | |
| 3,617,000 | | | | | Exelon Corp., 3.497%, 06/01/2022 | | | 3,584,634 | | | | 0.1 | |
| 3,475,000 | | | | | FirstEnergy Corp., 2.850%, 07/15/2022 | | | 3,372,869 | | | | 0.1 | |
| 1,519,000 | | | | | FirstEnergy Corp., 4.250%, 03/15/2023 | | | 1,556,687 | | | | 0.0 | |
| 830,000 | | | | | FirstEnergy Corp., 7.375%, 11/15/2031 | | | 1,093,371 | | | | 0.0 | |
| 4,400,000 | | | | | Fortis, Inc./Canada, 3.055%, 10/04/2026 | | | 4,082,572 | | | | 0.1 | |
| 4,400,000 | | | | | Interstate Power & Light Co., 3.250%, 12/01/2024 | | | 4,337,676 | | | | 0.1 | |
| 4,199,000 | | | (1) | | Jersey Central Power & Light Co., 4.300%, 01/15/2026 | | | 4,326,268 | | | | 0.1 | |
| 618,000 | | | | | Metropolitan Edison Co., 7.700%, 01/15/2019 | | | 642,137 | | | | 0.0 | |
| 3,160,000 | | | | | Mississippi Power Co., 3.950%, 03/30/2028 | | | 3,183,905 | | | | 0.1 | |
| 2,412,000 | | | | | Mississippi Power Co., 4.250%, 03/15/2042 | | | 2,365,249 | | | | 0.1 | |
| 790,000 | | | | | Mississippi Power Co., 4.750%, 10/15/2041 | | | 792,064 | | | | 0.0 | |
| 709,000 | | | | | Nevada Power Co., 7.125%, 03/15/2019 | | | 737,223 | | | | 0.0 | |
| 1,402,000 | | | | | NextEra Energy Capital Holdings, Inc., 3.625%, 06/15/2023 | | | 1,409,352 | | | | 0.0 | |
| 1,901,000 | | | | | NiSource, Inc., 5.950%, 06/15/2041 | | | 2,287,087 | | | | 0.1 | |
| 490,000 | | | (1),(2) | | NRG Energy, Inc., 5.750%, 01/15/2028 | | | 480,200 | | | | 0.0 | |
| 2,000,000 | | | | | NRG Energy, Inc., 6.250%, 05/01/2024 | | | 2,070,000 | | | | 0.0 | |
| 3,000,000 | | | | | Ohio Power Co., 4.150%, 04/01/2048 | | | 3,059,466 | | | | 0.1 | |
| 980,000 | | | | | Oncor Electric Delivery Co. LLC, 6.800%, 09/01/2018 | | | 995,590 | | | | 0.0 | |
| 2,780,000 | | | (1) | | Pacific Gas & Electric Co., 3.300%, 12/01/2027 | | | 2,634,294 | | | | 0.1 | |
| 1,947,000 | | | | | Pacific Gas & Electric Co., 5.800%, 03/01/2037 | | | 2,264,269 | | | | 0.0 | |
| 1,946,000 | | | | | Pacific Gas & Electric Co., 6.050%, 03/01/2034 | | | 2,322,986 | | | | 0.1 | |
| 999,000 | | | | | Pennsylvania Electric Co., 5.200%, 04/01/2020 | | | 1,033,362 | | | | 0.0 | |
| 3,300,000 | | | | | Perusahaan Listrik Negara PT, 4.125%, 05/15/2027 | | | 3,181,079 | | | | 0.1 | |
| 2,050,000 | | | (1) | | Perusahaan Listrik Negara PT, 4.125%, 05/15/2027 | | | 1,976,125 | | | | 0.0 | |
| 800,000 | | | | | Perusahaan Listrik Negara PT, 5.500%, 11/22/2021 | | | 848,400 | | | | 0.0 | |
| 4,035,000 | | | | | Pinnacle West Capital Corp., 2.250%, 11/30/2020 | | | 3,940,861 | | | | 0.1 | |
| 2,173,000 | | | | | PSEG Power LLC, 2.450%, 11/15/2018 | | | 2,168,904 | | | | 0.0 | |
| 3,937,000 | | | | | Sempra Energy, 3.800%, 02/01/2038 | | | 3,716,174 | | | | 0.1 | |
| 1,581,000 | | | | | Southern California Edison Co., 3.500%, 10/01/2023 | | | 1,598,631 | | | | 0.0 | |
| 3,500,000 | | | | | Southern Co. Gas Capital Corp., 4.400%, 05/30/2047 | | | 3,554,685 | | | | 0.1 | |
| 1,050,000 | | | | | Virginia Electric & Power Co., 3.800%, 04/01/2028 | | | 1,064,504 | | | | 0.0 | |
| 2,009,000 | | | | | Virginia Electric & Power Co., 2.950%, 11/15/2026 | | | 1,908,981 | | | | 0.0 | |
| 3,010,000 | | | | | Wisconsin Public Service Corp., 1.650%, 12/04/2018 | | | 2,991,911 | | | | 0.1 | |
| | | | | | | | | 152,882,458 | | | | 2.8 | |
| | | | | | | | | | | | | | |
| | | | Total Corporate Bonds/Notes | | | | | | | | |
| | | | (Cost $1,825,331,669) | | | 1,794,448,076 | | | | 32.7 | |
| | | | | | | | | | | | | | |
COLLATERALIZED MORTGAGE OBLIGATIONS: 11.5% |
| 2,808,625 | | | | | Alternative Loan Trust 2004-J7 MI, 2.892%, (US0001M + 1.020%), 10/25/2034 | | | 2,525,376 | | | | 0.1 | |
| 3,823,036 | | | | | Alternative Loan Trust 2005-10CB 1A1, 2.372%, (US0001M + 0.500%), 05/25/2035 | | | 3,411,496 | | | | 0.1 | |
| 3,211,519 | | | | | Alternative Loan Trust 2005-51 3A2A, 2.573%, (12MTA + 1.290%), 11/20/2035 | | | 3,113,403 | | | | 0.1 | |
| 992,108 | | | | | Alternative Loan Trust 2005-65CB 2A4, 5.500%, 12/25/2035 | | | 924,512 | | | | 0.0 | |
| 1,236,874 | | | | | Alternative Loan Trust 2005-6CB 1A3, 5.250%, 04/25/2035 | | | 1,190,404 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 2,272,990 | | | | | Alternative Loan Trust 2005-J2 1A12, 2.272%, (US0001M + 0.400%), 04/25/2035 | | | 2,021,523 | | | | 0.0 | |
| 1,003,323 | | | | | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | | | 810,091 | | | | 0.0 | |
| 230,258 | | | | | Alternative Loan Trust 2006-18CB A10, 2.272%, (US0001M + 0.400%), 07/25/2036 | | | 161,275 | | | | 0.0 | |
| 1,409,224 | | | | | Alternative Loan Trust 2006-19CB A28, 2.472%, (US0001M + 0.600%), 08/25/2036 | | | 1,057,313 | | | | 0.0 | |
| 1,373,718 | | | | | Alternative Loan Trust 2006-HY11 A1, 1.992%, (US0001M + 0.120%), 06/25/2036 | | | 1,255,216 | | | | 0.0 | |
| 1,493,295 | | | | | Alternative Loan Trust 2007-23CB A3, 2.372%, (US0001M + 0.500%), 09/25/2037 | | | 995,196 | | | | 0.0 | |
| 3,805,070 | | | | | Alternative Loan Trust 2007-2CB 2A1, 2.472%, (US0001M + 0.600%), 03/25/2037 | | | 2,690,211 | | | | 0.1 | |
| 1,510,268 | | | | | Alternative Loan Trust 2007-3T1 1A11, 6.000%, 04/25/2037 | | | 1,161,783 | | | | 0.0 | |
| 1,369,230 | | | | | Alternative Loan Trust 2007-8CB A3, 2.372%, (US0001M + 0.500%), 05/25/2037 | | | 954,192 | | | | 0.0 | |
| 2,037,104 | | | | | American Home Mortgage Assets Trust 2007-4 A4, 2.162%, (US0001M + 0.290%), 08/25/2037 | | | 1,832,619 | | | | 0.0 | |
| 115,214 | | | (1),(3) | | Angel Oak Mortgage Trust LLC 2015-1 A, 4.500%, 11/25/2045 | | | 114,905 | | | | 0.0 | |
| 1,391,278 | | | | | Banc of America Funding 2007-2 1A16 Trust, 2.472%, (US0001M + 0.600%), 03/25/2037 | | | 1,130,973 | | | | 0.0 | |
| 1,462,088 | | | (4) | | Banc of America Mortgage 2007-2 A8 Trust, 6.000%, 05/25/2037 | | | 271,473 | | | | 0.0 | |
| 2,242,766 | | | | | Bear Stearns ALT-A Trust 2005-4 23A1, 3.688%, 05/25/2035 | | | 2,263,964 | | | | 0.1 | |
| 2,892,417 | | | | | Bear Stearns ALT-A Trust 2005-7 21A1, 3.684%, 09/25/2035 | | | 2,942,107 | | | | 0.1 | |
| 5,561,809 | | | | | Bear Stearns Mortgage Funding Trust 2006-AR5 2A1, 2.062%, (US0001M + 0.190%), 01/25/2037 | | | 5,266,318 | | | | 0.1 | |
| 710,854 | | | (1) | | Bellemeade Re Ltd. 2015-1A M2, 6.172%, (US0001M + 4.300%), 07/25/2025 | | | 723,619 | | | | 0.0 | |
| 3,104,455 | | | | | CHL Mortgage Pass-Through Trust 2004-22 A3, 3.491%, 11/25/2034 | | | 3,098,412 | | | | 0.1 | |
| 948,234 | | | | | CHL Mortgage Pass-Through Trust 2007-7 A7, 5.750%, 06/25/2037 | | | 839,680 | | | | 0.0 | |
| 2,007,961 | | | | | Citicorp Mortgage Securities Trust Series 2006-3 1A4, 6.000%, 06/25/2036 | | | 2,034,451 | | | | 0.0 | |
| 2,513,630 | | | | | Citigroup Mortgage Loan Trust 2006-AR9 2A, 3.743%, 11/25/2036 | | | 2,202,323 | | | | 0.1 | |
| 917,249 | | | | | Citigroup Mortgage Loan Trust 2007-10 22AA, 3.465%, 09/25/2037 | | | 867,806 | | | | 0.0 | |
| 2,811,000 | | | (1) | | Citigroup Mortgage Loan Trust 2010-7 3A5, 5.500%, 12/25/2035 | | | 2,947,931 | | | | 0.1 | |
| 1,683,613 | | | (1) | | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | | | 1,755,188 | | | | 0.0 | |
| 2,869,000 | | | (1) | | COLT 2018-1 M1 Mortgage Loan Trust, 3.661%, 02/25/2048 | | | 2,876,119 | | | | 0.1 | |
| 697,953 | | | | | Countrywide Alternative Loan Trust 2005-53T2 2A6, 2.372%, (US0001M + 0.500%), 11/25/2035 | | | 431,603 | | | | 0.0 | |
| 7,750,000 | | | | | Countrywide Asset-Backed Certificates 2005-IM1 M1, 2.592%, (US0001M + 0.720%), 11/25/2035 | | | 7,645,311 | | | | 0.2 | |
| 2,666,090 | | | (1) | | CSMC Series 2008-2R 1A1, 6.000%, 07/25/2037 | | | 2,506,895 | | | | 0.1 | |
| 1,360,000 | | | (1) | | Deephaven Residential Mortgage Trust 2018-1A M1, 3.939%, 12/25/2057 | | | 1,363,327 | | | | 0.0 | |
| 119,317,643 | | | (4) | | Deutsche ALT-A Securities, Inc. ALT 07-AB1 X, 1.065%, 04/25/2037 | | | 4,748,866 | | | | 0.1 | |
| 2,575,800 | | | | | DSLA Mortgage Loan Trust 2005-AR4 2A1B, 2.088%, (US0001M + 0.280%), 08/19/2045 | | | 2,249,776 | | | | 0.1 | |
| 6,361,143 | | | (4) | | Fannie Mae 2008-12 SC, 4.479%, (-1.000*US0001M + 6.350%), 03/25/2038 | | | 936,425 | | | | 0.0 | |
| 7,640,562 | | | | | Fannie Mae 2011-99 CZ, 4.500%, 10/25/2041 | | | 8,243,728 | | | | 0.2 | |
| 1,307,229 | | | | | Fannie Mae 2012-110 CA, 3.000%, 10/25/2042 | | | 1,285,362 | | | | 0.0 | |
| 4,919,751 | | | | | Fannie Mae 2012-66 EP, 4.000%, 06/25/2042 | | | 5,099,097 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 6,534,000 | | | | | Fannie Mae 2013-116 UB, 4.000%, 11/25/2043 | | | 6,745,009 | | | | 0.1 | |
| 4,297,786 | | | | | Fannie Mae 2013-20 DL, 4.000%, 03/25/2033 | | | 4,484,686 | | | | 0.1 | |
| 37,966,878 | | | (4) | | Fannie Mae 2016-82 SD, 4.179%, (-1.000*US0001M + 6.050%), 11/25/2046 | | | 5,581,332 | | | | 0.1 | |
| 9,022,127 | | | | | Fannie Mae 2016-88 EA, 3.500%, 01/25/2045 | | | 9,079,159 | | | | 0.2 | |
| 4,600,000 | | | | | Fannie Mae Connecticut Avenue Securities 16-C06 1M2, 6.122%, (US0001M + 4.250%), 04/25/2029 | | | 5,219,244 | | | | 0.1 | |
| 7,434,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C02 2M2, 5.522%, (US0001M + 3.650%), 09/25/2029 | | | 8,097,331 | | | | 0.2 | |
| 2,650,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C03 1M2, 4.872%, (US0001M + 3.000%), 10/25/2029 | | | 2,813,844 | | | | 0.1 | |
| 2,500,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C04 2M2, 4.722%, (US0001M + 2.850%), 11/25/2029 | | | 2,606,106 | | | | 0.1 | |
| 10,500,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C05 1M2, 4.072%, (US0001M + 2.200%), 01/25/2030 | | | 10,646,872 | | | | 0.2 | |
| 7,200,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C07 1M2, 4.272%, (US0001M + 2.400%), 05/25/2030 | | | 7,315,618 | | | | 0.1 | |
| 9,750,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C07 2M2, 4.372%, (US0001M + 2.500%), 05/25/2030 | | | 9,912,172 | | | | 0.2 | |
| 1,500,000 | | | | | Fannie Mae Connecticut Avenue Securities 2018-C02 2M2, 4.072%, (US0001M + 2.200%), 08/25/2030 | | | 1,509,674 | | | | 0.0 | |
| 13,500,000 | | | | | Fannie Mae Connecticut Avenue Securities 2018-CO1 1M2, 4.122%, (US0001M + 2.250%), 07/25/2030 | | | 13,690,860 | | | | 0.3 | |
| 36,094 | | | | | Fannie Mae Grantor Trust 1998-T2 A6, 1.071%, (US0001M + 0.550%), 01/25/2032 | | | 37,149 | | | | 0.0 | |
| 13,010 | | | (4) | | Fannie Mae Interest Strip Series 343 22, 4.000%, 11/25/2018 | | | 67 | | | | 0.0 | |
| 580,068 | | | (4) | | Fannie Mae Interest Strip Series 418 20, 3.000%, 05/25/2043 | | | 85,650 | | | | 0.0 | |
| 2,065,016 | | | (4) | | Fannie Mae Interest Strip Series 418 59, 3.000%, 08/25/2028 | | | 186,153 | | | | 0.0 | |
| 216,028 | | | | | Fannie Mae REMIC Trust 1999-33 Z, 6.000%, 07/25/2029 | | | 232,927 | | | | 0.0 | |
| 315,951 | | | (4) | | Fannie Mae REMIC Trust 1999-6 SE, 5.877%, (-1.000*US0001M + 7.685%), 02/17/2029 | | | 31,241 | | | | 0.0 | |
| 171,419 | | | | | Fannie Mae REMIC Trust 2001-15 Z, 6.000%, 04/25/2031 | | | 184,841 | | | | 0.0 | |
| 1,730,605 | | | | | Fannie Mae REMIC Trust 2003-105 AZ, 5.500%, 10/25/2033 | | | 1,879,303 | | | | 0.0 | |
| 526,211 | | | | | Fannie Mae REMIC Trust 2003-45 FJ, 3.164%, (US0001M + 1.500%), 06/25/2033 | | | 549,419 | | | | 0.0 | |
| 2,229,972 | | | (4) | | Fannie Mae REMIC Trust 2003-66 SA, 5.779%, (-1.000*US0001M + 7.650%), 07/25/2033 | | | 413,723 | | | | 0.0 | |
| 379,660 | | | (4) | | Fannie Mae REMIC Trust 2003-74 IO, 6.000%, 08/25/2033 | | | 88,498 | | | | 0.0 | |
| 1,124,319 | | | | | Fannie Mae REMIC Trust 2003-84 PZ, 5.000%, 09/25/2033 | | | 1,192,347 | | | | 0.0 | |
| 14,273 | | | | | Fannie Mae REMIC Trust 2004-10 SC, 21.114%, (-4.000*US0001M + 28.600%), 02/25/2034 | | | 15,499 | | | | 0.0 | |
| 1,642,106 | | | | | Fannie Mae REMIC Trust 2004-50 VZ, 5.500%, 07/25/2034 | | | 1,753,157 | | | | 0.0 | |
| 34,609 | | | | | Fannie Mae REMIC Trust 2004-56 FE, 2.322%, (US0001M + 0.450%), 10/25/2033 | | | 34,688 | | | | 0.0 | |
| 852,493 | | | | | Fannie Mae REMIC Trust 2004-7 Z, 5.500%, 02/25/2034 | | | 939,088 | | | | 0.0 | |
| 1,802,425 | | | | | Fannie Mae REMIC Trust 2004-75 ZG, 4.500%, 10/25/2034 | | | 1,892,533 | | | | 0.0 | |
| 237,842 | | | | | Fannie Mae REMIC Trust 2004-79 S, 14.653%, (-2.750*US0001M + 19.800%), 08/25/2032 | | | 251,239 | | | | 0.0 | |
| 80,932 | | | | | Fannie Mae REMIC Trust 2004-W10 A5, 5.500%, 08/25/2034 | | | 81,195 | | | | 0.0 | |
| 4,339,063 | | | | | Fannie Mae REMIC Trust 2005-25 Z, 5.000%, 04/25/2035 | | | 4,611,787 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 91,888 | | | | | Fannie Mae REMIC Trust 2005-74 NP, 15.915%, (-3.782*US0001M + 22.992%), 01/25/2035 | | | 98,011 | | | | 0.0 | |
| 234,766 | | | | | Fannie Mae REMIC Trust 2006-104 ES, 24.093%, (-5.000*US0001M + 33.450%), 11/25/2036 | | | 392,101 | | | | 0.0 | |
| 4,427,891 | | | (4) | | Fannie Mae REMIC Trust 2006-12 SD, 4.879%, (-1.000*US0001M + 6.750%), 10/25/2035 | | | 588,461 | | | | 0.0 | |
| 1,210,724 | | | (4) | | Fannie Mae REMIC Trust 2006-123 UI, 4.869%, (-1.000*US0001M + 6.740%), 01/25/2037 | | | 215,305 | | | | 0.0 | |
| 338,793 | | | (4) | | Fannie Mae REMIC Trust 2006-72 HS, 4.829%, (-1.000*US0001M + 6.700%), 08/25/2026 | | | 40,964 | | | | 0.0 | |
| 86,090 | | | | | Fannie Mae REMIC Trust 2007-10 Z, 6.000%, 02/25/2037 | | | 95,360 | | | | 0.0 | |
| 6,300,723 | | | (4) | | Fannie Mae REMIC Trust 2007-91 AS, 4.529%, (-1.000*US0001M + 6.400%), 10/25/2037 | | | 1,039,769 | | | | 0.0 | |
| 2,820,362 | | | | | Fannie Mae REMIC Trust 2009-19 PW, 4.500%, 10/25/2036 | | | 2,942,168 | | | | 0.1 | |
| 13,953,624 | | | | | Fannie Mae REMIC Trust 2009-50 HZ, 5.557%, 02/25/2049 | | | 14,803,919 | | | | 0.3 | |
| 3,572,168 | | | (4) | | Fannie Mae REMIC Trust 2009-90 TS, 4.279%, (-1.000*US0001M + 6.150%), 11/25/2039 | | | 505,161 | | | | 0.0 | |
| 5,366,247 | | | (4) | | Fannie Mae REMIC Trust 2010-118 GS, 4.079%, (-1.000*US0001M + 5.950%), 10/25/2039 | | | 400,213 | | | | 0.0 | |
| 8,695,211 | | | (4) | | Fannie Mae REMIC Trust 2010-123 SL, 4.199%, (-1.000*US0001M + 6.070%), 11/25/2040 | | | 1,169,516 | | | | 0.0 | |
| 9,209,313 | | | (4) | | Fannie Mae REMIC Trust 2010-41 SB, 4.529%, (-1.000*US0001M + 6.400%), 05/25/2040 | | | 1,372,219 | | | | 0.0 | |
| 2,671,207 | | | (4) | | Fannie Mae REMIC Trust 2010-43 VS, 4.579%, (-1.000*US0001M + 6.450%), 05/25/2040 | | | 409,961 | | | | 0.0 | |
| 11,049,000 | | | | | Fannie Mae REMIC Trust 2010-59 PC, 5.000%, 06/25/2040 | | | 11,818,872 | | | | 0.2 | |
| 2,933,302 | | | (4) | | Fannie Mae REMIC Trust 2011-102 SA, 4.729%, (-1.000*US0001M + 6.600%), 10/25/2041 | | | 476,866 | | | | 0.0 | |
| 3,922,480 | | | | | Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041 | | | 4,004,856 | | | | 0.1 | |
| 4,151,022 | | | (4) | | Fannie Mae REMIC Trust 2011-93 GS, 4.679%, (-1.000*US0001M + 6.550%), 04/25/2039 | | | 717,376 | | | | 0.0 | |
| 1,993,245 | | | (4) | | Fannie Mae REMIC Trust 2012-103 IT, 4.000%, 04/25/2041 | | | 252,204 | | | | 0.0 | |
| 10,803,640 | | | (4) | | Fannie Mae REMIC Trust 2012-122 SB, 4.279%, (-1.000*US0001M + 6.150%), 11/25/2042 | | | 2,009,855 | | | | 0.0 | |
| 6,279,180 | | | (4) | | Fannie Mae REMIC Trust 2012-128 LI, 3.500%, 06/25/2042 | | | 659,364 | | | | 0.0 | |
| 10,494,384 | | | (4) | | Fannie Mae REMIC Trust 2012-133 AS, 4.329%, (-1.000*US0001M + 6.200%), 10/25/2042 | | | 1,534,345 | | | | 0.0 | |
| 1,703,688 | | | (4) | | Fannie Mae REMIC Trust 2012-149 GI, 3.500%, 06/25/2042 | | | 204,051 | | | | 0.0 | |
| 8,163,415 | | | (4) | | Fannie Mae REMIC Trust 2012-15 SP, 4.749%, (-1.000*US0001M + 6.620%), 06/25/2040 | | | 931,758 | | | | 0.0 | |
| 4,123,777 | | | (4) | | Fannie Mae REMIC Trust 2012-24 HS, 4.679%, (-1.000*US0001M + 6.550%), 09/25/2040 | | | 544,840 | | | | 0.0 | |
| 9,533,175 | | | (4) | | Fannie Mae REMIC Trust 2012-30 QS, 4.729%, (-1.000*US0001M + 6.600%), 04/25/2031 | | | 1,165,514 | | | | 0.0 | |
| 2,414,884 | | | (4) | | Fannie Mae REMIC Trust 2012-68 YS, 4.829%, (-1.000*US0001M + 6.700%), 07/25/2042 | | | 410,868 | | | | 0.0 | |
| 3,762,992 | | | (4) | | Fannie Mae REMIC Trust 2013-26 JS, 4.329%, (-1.000*US0001M + 6.200%), 10/25/2032 | | | 559,205 | | | | 0.0 | |
| 12,866,800 | | | (4) | | Fannie Mae REMIC Trust 2013-60 DS, 4.329%, (-1.000*US0001M + 6.200%), 06/25/2033 | | | 2,045,923 | | | | 0.1 | |
| 12,171,811 | | | (4) | | Fannie Mae REMIC Trust 2013-9 SM, 4.379%, (-1.000*US0001M + 6.250%), 02/25/2033 | | | 1,683,416 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 8,736,582 | | | (4) | | Fannie Mae REMIC Trust 2014-17 DS, 4.329%, (-1.000*US0001M + 6.200%), 02/25/2043 | | | 1,154,442 | | | | 0.0 | |
| 4,338,961 | | | (4) | | Fannie Mae REMIC Trust 2014-28 BS, 4.329%, (-1.000*US0001M + 6.200%), 08/25/2043 | | | 630,482 | | | | 0.0 | |
| 3,019,000 | | | | | Fannie Mae REMIC Trust 2015-17 MK, 2.500%, 12/25/2041 | | | 2,590,477 | | | | 0.1 | |
| 32,071,337 | | | (4) | | Fannie Mae REMIC Trust 2015-9 IO, 5.500%, 03/25/2045 | | | 7,573,848 | | | | 0.2 | |
| 4,671,585 | | | | | Fannie Mae REMICS Trust 2010-53 JZ, 5.000%, 07/25/2040 | | | 5,065,964 | | | | 0.1 | |
| 2,234,354 | | | (4) | | Fannie Mae Series 2013-72 YS, 4.279%, (-1.000*US0001M + 6.150%), 07/25/2033 | | | 389,742 | | | | 0.0 | |
| 791,722 | | | | | First Horizon Alternative Mortgage Securities Trust 2006-FA7 A5, 2.172%, (US0001M + 0.300%), 12/25/2036 | | | 507,712 | | | | 0.0 | |
| 791,722 | | | (4) | | First Horizon Alternative Mortgage Securities Trust 2006-FA7 A9, 4.829%, (-1.000*US0001M + 6.700%), 12/25/2036 | | | 189,278 | | | | 0.0 | |
| 924,032 | | | | | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A11, 6.000%, 02/25/2037 | | | 746,415 | | | | 0.0 | |
| 2,000,000 | | | (1) | | Flagstar Mortgage Trust 2018-1 B1, 4.069%, 03/25/2048 | | | 2,013,528 | | | | 0.0 | |
| 2,341,016 | | | (1) | | Flagstar Mortgage Trust 2018-1 B2, 4.069%, 03/25/2048 | | | 2,322,404 | | | | 0.1 | |
| 2,603,570 | | | (1) | | Flagstar Mortgage Trust 2018-1 B3, 4.069%, 03/25/2048 | | | 2,512,195 | | | | 0.1 | |
| 37,298,030 | | | | | Freddie Mac 326 350, 3.500%, 03/15/2044 | | | 37,563,272 | | | | 0.7 | |
| 14,384,539 | | | (4) | | Freddie Mac 3510 AS, 4.633%, (-1.000*US0001M + 6.410%), 04/15/2037 | | | 2,279,311 | | | | 0.1 | |
| 12,732,099 | | | (4) | | Freddie Mac 4191 SA, 4.423%, (-1.000*US0001M + 6.200%), 03/15/2043 | | | 1,717,207 | | | | 0.0 | |
| 3,605,104 | | | | | Freddie Mac 4316 XZ, 4.500%, 03/15/2044 | | | 3,918,153 | | | | 0.1 | |
| 1,191,735 | | | | | Freddie Mac Reference Series R007 ZA, 6.000%, 05/15/2036 | | | 1,310,264 | | | | 0.0 | |
| 563,166 | | | | | Freddie Mac Reference Series R008 ZA, 6.000%, 07/15/2036 | | | 634,431 | | | | 0.0 | |
| 178,742 | | | | | Freddie Mac REMIC Trust 2110 PG, 6.000%, 01/15/2029 | | | 194,807 | | | | 0.0 | |
| 162,390 | | | | | Freddie Mac REMIC Trust 2114 ZM, 6.000%, 01/15/2029 | | | 179,209 | | | | 0.0 | |
| 1,107,122 | | | | | Freddie Mac REMIC Trust 2143 ZB, 6.000%, 04/15/2029 | | | 1,248,588 | | | | 0.0 | |
| 213,823 | | | | | Freddie Mac REMIC Trust 2472 ZC, 6.000%, 07/15/2032 | | | 240,207 | | | | 0.0 | |
| 294,255 | | | | | Freddie Mac REMIC Trust 2528 KM, 5.500%, 11/15/2022 | | | 309,441 | | | | 0.0 | |
| 426,017 | | | | | Freddie Mac REMIC Trust 2541 NE, 5.500%, 12/15/2032 | | | 462,166 | | | | 0.0 | |
| 177,354 | | | (4) | | Freddie Mac REMIC Trust 2594 IY, 6.000%, 04/15/2033 | | | 41,405 | | | | 0.0 | |
| 1,145,177 | | | | | Freddie Mac REMIC Trust 2845 QH, 5.000%, 08/15/2034 | | | 1,222,703 | | | | 0.0 | |
| 212,944 | | | | | Freddie Mac REMIC Trust 2861 Z, 5.500%, 09/15/2034 | | | 233,910 | | | | 0.0 | |
| 2,338,349 | | | (4) | | Freddie Mac REMIC Trust 2866 GS, 4.823%, (-1.000*US0001M + 6.600%), 09/15/2034 | | | 125,835 | | | | 0.0 | |
| 818,913 | | | (4) | | Freddie Mac REMIC Trust 2883 SD, 4.923%, (-1.000*US0001M + 6.700%), 10/15/2034 | | | 49,164 | | | | 0.0 | |
| 327,928 | | | | | Freddie Mac REMIC Trust 2930 ZL, 5.000%, 02/15/2035 | | | 352,281 | | | | 0.0 | |
| 466,346 | | | | | Freddie Mac REMIC Trust 2931 ZY, 5.000%, 02/15/2035 | | | 501,352 | | | | 0.0 | |
| 8,831,387 | | | (4) | | Freddie Mac REMIC Trust 3045 DI, 4.953%, (-1.000*US0001M + 6.730%), 10/15/2035 | | | 1,339,110 | | | | 0.0 | |
| 59,938 | | | | | Freddie Mac REMIC Trust 3049 NA, 5.000%, 02/15/2035 | | | 60,475 | | | | 0.0 | |
| 1,826,783 | | | | | Freddie Mac REMIC Trust 3117 ZA, 5.500%, 02/15/2036 | | | 2,013,555 | | | | 0.0 | |
| 518,448 | | | (5) | | Freddie Mac REMIC Trust 3139 PO, 01/15/2036 | | | 501,152 | | | | 0.0 | |
| 2,418,759 | | | (4) | | Freddie Mac REMIC Trust 3171 PS, 4.708%, (-1.000*US0001M + 6.485%), 06/15/2036 | | | 302,151 | | | | 0.0 | |
| 9,814,814 | | | (4) | | Freddie Mac REMIC Trust 3199 S, 4.673%, (-1.000*US0001M + 6.450%), 08/15/2036 | | | 1,556,552 | | | | 0.0 | |
| 844,276 | | | | | Freddie Mac REMIC Trust 3351 ZC, 5.500%, 07/15/2037 | | | 923,822 | | | | 0.0 | |
| 401,634 | | | | | Freddie Mac REMIC Trust 3394 ZY, 6.000%, 11/15/2037 | | | 429,248 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 443,811 | | | (4) | | Freddie Mac REMIC Trust 3524 LA, 5.442%, 03/15/2033 | | | 471,765 | | | | 0.0 | |
| 61,062 | | | | | Freddie Mac REMIC Trust 3556 NT, 4.877%, (US0001M + 0.000%), 03/15/2038 | | | 62,678 | | | | 0.0 | |
| 9,201,972 | | | | | Freddie Mac REMIC Trust 3639 ZN, 5.500%, 12/15/2034 | | | 10,017,656 | | | | 0.2 | |
| 829,348 | | | | | Freddie Mac REMIC Trust 3662 ZB, 5.500%, 08/15/2036 | | | 913,824 | | | | 0.0 | |
| 2,912,876 | | | (4) | | Freddie Mac REMIC Trust 3710 SL, 4.223%, (-1.000*US0001M + 6.000%), 05/15/2036 | | | 130,515 | | | | 0.0 | |
| 635,570 | | | | | Freddie Mac REMIC Trust 3724 CM, 5.500%, 06/15/2037 | | | 691,599 | | | | 0.0 | |
| 25,000,000 | | | | | Freddie Mac REMIC Trust 3747 HW, 4.500%, 05/15/2038 | | | 25,763,280 | | | | 0.5 | |
| 1,000,000 | | | | | Freddie Mac REMIC Trust 3753 DC, 3.500%, 09/15/2039 | | | 1,014,578 | | | | 0.0 | |
| 535,034 | | | | | Freddie Mac REMIC Trust 3819 ZY, 6.000%, 10/15/2037 | | | 569,647 | | | | 0.0 | |
| 2,292,276 | | | (4) | | Freddie Mac REMIC Trust 3856 KS, 4.773%, (-1.000*US0001M + 6.550%), 05/15/2041 | | | 371,622 | | | | 0.0 | |
| 1,940,461 | | | (4) | | Freddie Mac REMIC Trust 3925 SD, 4.273%, (-1.000*US0001M + 6.050%), 07/15/2040 | | | 221,792 | | | | 0.0 | |
| 12,344,371 | | | (4) | | Freddie Mac REMIC Trust 3925 SL, 4.273%, (-1.000*US0001M + 6.050%), 01/15/2041 | | | 1,425,767 | | | | 0.0 | |
| 529,293 | | | | | Freddie Mac REMIC Trust 4000 PA, 4.500%, 01/15/2042 | | | 559,101 | | | | 0.0 | |
| 2,974,929 | | | (4) | | Freddie Mac REMIC Trust 4027 QI, 4.500%, 12/15/2040 | | | 418,557 | | | | 0.0 | |
| 2,854,097 | | | (4) | | Freddie Mac REMIC Trust 4088 CS, 4.223%, (-1.000*US0001M + 6.000%), 08/15/2042 | | | 486,482 | | | | 0.0 | |
| 10,760,370 | | | (4) | | Freddie Mac REMIC Trust 4161 WI, 3.000%, 02/15/2033 | | | 1,282,405 | | | | 0.0 | |
| 5,452,625 | | | (4) | | Freddie Mac REMIC Trust 4194 GI, 4.000%, 04/15/2043 | | | 938,354 | | | | 0.0 | |
| 4,247,500 | | | | | Freddie Mac REMIC Trust 4203 BN, 3.000%, 04/15/2033 | | | 4,172,805 | | | | 0.1 | |
| 1,223,996 | | | | | Freddie Mac REMIC Trust 4246 ZX, 4.500%, 04/15/2041 | | | 1,331,027 | | | | 0.0 | |
| 2,806,074 | | | (4) | | Freddie Mac REMIC Trust 4293 KI, 4.500%, 08/15/2043 | | | 471,400 | | | | 0.0 | |
| 4,558,069 | | | | | Freddie Mac REMIC Trust 4335 ZX, 4.250%, 05/15/2044 | | | 4,802,476 | | | | 0.1 | |
| 6,118,319 | | | | | Freddie Mac REMIC Trust 435 XZ, 4.250%, 05/15/2044 | | | 6,440,728 | | | | 0.1 | |
| 1,916,000 | | | | | Freddie Mac REMIC Trust 4370 AD, 3.000%, 08/15/2040 | | | 1,824,086 | | | | 0.0 | |
| 9,139,376 | | | (4) | | Freddie Mac REMIC Trust 4386 LS, 4.323%, (-1.000*US0001M + 6.100%), 09/15/2044 | | | 1,473,980 | | | | 0.0 | |
| 10,662,016 | | | | | Freddie Mac Series 4348 ZX, 4.250%, 06/15/2044 | | | 11,005,736 | | | | 0.2 | |
| 4,200,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2015-DNA3 M3, 6.572%, (US0001M + 4.700%), 04/25/2028 | | | 5,025,490 | | | | 0.1 | |
| 2,100,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2016-DNA1 M3, 7.422%, (US0001M + 5.550%), 07/25/2028 | | | 2,550,784 | | | | 0.1 | |
| 4,800,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-DNA2 M2, 5.322%, (US0001M + 3.450%), 10/25/2029 | | | 5,226,447 | | | | 0.1 | |
| 9,600,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-DNA3 M2, 4.372%, (US0001M + 2.500%), 03/25/2030 | | | 9,852,407 | | | | 0.2 | |
| 8,200,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA2 M2, 4.522%, (US0001M + 2.650%), 12/25/2029 | | | 8,464,175 | | | | 0.2 | |
| 9,120,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA3 M2, 4.222%, (US0001M + 2.350%), 04/25/2030 | | | 9,245,709 | | | | 0.2 | |
| 9,200,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2018-DNA1 M2, 3.672%, (US0001M + 1.800%), 07/25/2030 | | | 9,116,858 | | | | 0.2 | |
| 1,800,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2018-HQA1 M2, 4.154%, (US0001M + 2.300%), 09/25/2030 | | | 1,801,262 | | | | 0.0 | |
| 1,321,595 | | | | | Freddie Mac Structured Pass Through Certificates T-48 1A, 5.061%, 07/25/2033 | | | 1,405,377 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,713,883 | | | (1) | | Galton Funding Mortgage Trust 2018-1 B1, 3.800%, 11/25/2057 | | | 3,694,371 | | | | 0.1 | |
| 1,912,137 | | | | | Ginnie Mae 2015-3 ZD, 4.000%, 01/20/2045 | | | 2,026,161 | | | | 0.0 | |
| 10,659 | | | (4) | | Ginnie Mae Series 2001-28 SV, 6.464%, (-1.000*US0001M + 8.250%), 06/16/2031 | | | 548 | | | | 0.0 | |
| 1,016,264 | | | (4) | | Ginnie Mae Series 2005-7 AH, 4.984%, (-1.000*US0001M + 6.770%), 02/16/2035 | | | 150,435 | | | | 0.0 | |
| 16,746,861 | | | (4) | | Ginnie Mae Series 2007-41 SL, 4.878%, (-1.000*US0001M + 6.700%), 07/20/2037 | | | 2,914,915 | | | | 0.1 | |
| 1,776,658 | | | (4) | | Ginnie Mae Series 2008-2 SW, 4.728%, (-1.000*US0001M + 6.550%), 01/20/2038 | | | 287,396 | | | | 0.0 | |
| 1,146,555 | | | (4) | | Ginnie Mae Series 2008-35 SN, 4.578%, (-1.000*US0001M + 6.400%), 04/20/2038 | | | 149,955 | | | | 0.0 | |
| 641,379 | | | (4) | | Ginnie Mae Series 2008-40 PS, 4.714%, (-1.000*US0001M + 6.500%), 05/16/2038 | | | 94,795 | | | | 0.0 | |
| 1,549,975 | | | (4) | | Ginnie Mae Series 2009-25 KS, 4.378%, (-1.000*US0001M + 6.200%), 04/20/2039 | | | 209,652 | | | | 0.0 | |
| 1,253,457 | | | | | Ginnie Mae Series 2009-29 PB, 4.750%, 05/20/2039 | | | 1,330,080 | | | | 0.0 | |
| 1,323,621 | | | | | Ginnie Mae Series 2009-31 ZL, 4.500%, 05/20/2039 | | | 1,410,383 | | | | 0.0 | |
| 3,908,473 | | | (4) | | Ginnie Mae Series 2009-33 SN, 4.478%, (-1.000*US0001M + 6.300%), 05/20/2039 | | | 203,182 | | | | 0.0 | |
| 10,719,995 | | | | | Ginnie Mae Series 2009-33 ZB, 6.000%, 05/20/2039 | | | 12,501,031 | | | | 0.2 | |
| 2,665,984 | | | | | Ginnie Mae Series 2009-34 Z, 4.500%, 05/16/2039 | | | 2,788,074 | | | | 0.1 | |
| 552,166 | | | (4) | | Ginnie Mae Series 2009-43 HS, 4.378%, (-1.000*US0001M + 6.200%), 06/20/2038 | | | 28,450 | | | | 0.0 | |
| 3,311,656 | | | (4) | | Ginnie Mae Series 2010-116 NS, 4.864%, (-1.000*US0001M + 6.650%), 09/16/2040 | | | 460,386 | | | | 0.0 | |
| 8,600,811 | | | (4) | | Ginnie Mae Series 2010-116 SK, 4.798%, (-1.000*US0001M + 6.620%), 08/20/2040 | | | 1,370,508 | | | | 0.0 | |
| 15,587,607 | | | (4) | | Ginnie Mae Series 2010-149 HS, 4.314%, (-1.000*US0001M + 6.100%), 05/16/2040 | | | 1,453,678 | | | | 0.0 | |
| 1,826,984 | | | (4) | | Ginnie Mae Series 2010-168 BI, 5.000%, 04/20/2040 | | | 634,514 | | | | 0.0 | |
| 2,501,014 | | | (4) | | Ginnie Mae Series 2010-68 MS, 4.028%, (-1.000*US0001M + 5.850%), 06/20/2040 | | | 345,274 | | | | 0.0 | |
| 6,378,689 | | | (4) | | Ginnie Mae Series 2011-72 SA, 3.564%, (-1.000*US0001M + 5.350%), 05/16/2041 | | | 747,323 | | | | 0.0 | |
| 9,819,623 | | | (4) | | Ginnie Mae Series 2011-73 LS, 4.868%, (-1.000*US0001M + 6.690%), 08/20/2039 | | | 908,841 | | | | 0.0 | |
| 245,195 | | | | | Ginnie Mae Series 2012-43 MA, 4.000%, 10/20/2041 | | | 248,848 | | | | 0.0 | |
| 1,870,777 | | | (4) | | Ginnie Mae Series 2012-91 QI, 4.500%, 09/20/2041 | | | 228,923 | | | | 0.0 | |
| 1,388,000 | | | | | Ginnie Mae Series 2013-116 KB, 3.500%, 12/20/2042 | | | 1,396,070 | | | | 0.0 | |
| 12,501,568 | | | (4) | | Ginnie Mae Series 2013-167 PI, 5.500%, 11/20/2043 | | | 2,521,144 | | | | 0.1 | |
| 3,411,144 | | | (4) | | Ginnie Mae Series 2014-10 GI, 4.500%, 01/16/2029 | | | 357,291 | | | | 0.0 | |
| 7,500,896 | | | (4) | | Ginnie Mae Series 2014-185 SB, 3.778%, (-1.000*US0001M + 5.600%), 12/20/2044 | | | 888,066 | | | | 0.0 | |
| 13,023,450 | | | (4) | | Ginnie Mae Series 2014-3 SU, 4.228%, (-1.000*US0001M + 6.050%), 07/20/2039 | | | 1,822,056 | | | | 0.0 | |
| 11,432,536 | | | (4) | | Ginnie Mae Series 2014-56 SP, 4.414%, (-1.000*US0001M + 6.200%), 12/16/2039 | | | 1,463,820 | | | | 0.0 | |
| 13,107,981 | | | (4) | | Ginnie Mae Series 2014-58 SG, 3.814%, (-1.000*US0001M + 5.600%), 04/16/2044 | | | 1,621,907 | | | | 0.0 | |
| 5,407 | | | | | GSR Mortgage Loan Trust 2005-5F 8A1, 2.372%, (US0001M + 0.500%), 06/25/2035 | | | 5,194 | | | | 0.0 | |
| 324,107 | | | | | GSR Mortgage Loan Trust 2007-1F 3A13, 6.000%, 01/25/2037 | | | 305,346 | | | | 0.0 | |
| 3,604,709 | | | | | HarborView Mortgage Loan Trust 2007-5 A1A, 1.998%, (US0001M + 0.190%), 09/19/2037 | | | 3,369,721 | | | | 0.1 | |
| 245,977 | | | | | HomeBanc Mortgage Trust 2004-1 2A, 2.732%, (US0001M + 0.860%), 08/25/2029 | | | 236,620 | | | | 0.0 | |
| 2,000,000 | | | | | HomeBanc Mortgage Trust 2005-4 M1, 2.342%, (US0001M + 0.470%), 10/25/2035 | | | 1,919,778 | | | | 0.0 | |
| 2,265,700 | | | | | IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 2.082%, (US0001M + 0.210%), 04/25/2046 | | | 2,104,569 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,404,942 | | | | | IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 2.082%, (US0001M + 0.210%), 02/25/2046 | | | 2,917,089 | | | | 0.1 | |
| 510,631 | | | (1) | | Jefferies Resecuritization Trust 2009-R6 1A2, 3.652%, 03/26/2036 | | | 500,488 | | | | 0.0 | |
| 485,707 | | | | | JP Morgan Alternative Loan Trust 2005-S1 1A1, 5.500%, 12/25/2035 | | | 403,101 | | | | 0.0 | |
| 2,846,249 | | | | | JP Morgan Mortgage Trust 2005-A4 B1, 3.569%, 07/25/2035 | | | 2,572,443 | | | | 0.1 | |
| 4,583,281 | | | (1) | | JP Morgan Mortgage Trust 2016-1 B3, 3.881%, 05/25/2046 | | | 4,587,191 | | | | 0.1 | |
| 2,189,009 | | | (1) | | JP Morgan Mortgage Trust 2017-3 B1, 3.872%, 08/25/2047 | | | 2,188,537 | | | | 0.1 | |
| 2,096,279 | | | (1) | | JP Morgan Mortgage Trust 2017-3 B2, 3.872%, 08/25/2047 | | | 2,039,100 | | | | 0.0 | |
| 1,492,886 | | | (1) | | JP Morgan Mortgage Trust 2017-6 B3, 3.857%, 12/25/2048 | | | 1,433,874 | | | | 0.0 | |
| 2,157,870 | | | (1) | | JP Morgan Mortgage Trust 2018-1 B1, 3.774%, 06/25/2048 | | | 2,126,063 | | | | 0.1 | |
| 2,077,137 | | | (1) | | JP Morgan Mortgage Trust 2018-1 B2, 3.774%, 06/25/2048 | | | 2,022,345 | | | | 0.0 | |
| 2,741,941 | | | (1) | | JP Morgan Mortgage Trust 2018-1 B3, 3.774%, 06/25/2048 | | | 2,603,510 | | | | 0.1 | |
| 18,034,219 | | | (4) | | Lehman Mortgage Trust 2006-7 2A4, 4.679%, (-1.000*US0001M + 6.550%), 11/25/2036 | | | 3,050,230 | | | | 0.1 | |
| 13,197,087 | | | (4) | | Lehman Mortgage Trust 2006-9 2A5, 4.749%, (-1.000*US0001M + 6.620%), 01/25/2037 | | | 2,595,622 | | | | 0.1 | |
| 1,573,836 | | | | | Lehman XS Trust Series 2005-5N 1A2, 2.232%, (US0001M + 0.360%), 11/25/2035 | | | 1,404,083 | | | | 0.0 | |
| 5,417,614 | | | | | Morgan Stanley Mortgage Loan Trust 2007-13 6A1, 6.000%, 10/25/2037 | | | 4,875,839 | | | | 0.1 | |
| 1,809,733 | | | (1) | | New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057 | | | 1,874,040 | | | | 0.0 | |
| 9,826,000 | | | | | Opteum Mortgage Acceptance Corp. Asset Backed Pass-Through Certificates 2005-4 M2, 2.372%, (US0001M + 0.500%), 11/25/2035 | | | 9,076,061 | | | | 0.2 | |
| 242,068 | | | | | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | | | 236,482 | | | | 0.0 | |
| 1,919,081 | | | (1) | | Sequoia Mortgage Trust 2014-3 B3, 3.930%, 10/25/2044 | | | 1,936,580 | | | | 0.0 | |
| 1,943,609 | | | (1) | | Sequoia Mortgage Trust 2014-4 B3, 3.869%, 11/25/2044 | | | 1,953,148 | | | | 0.0 | |
| 1,931,438 | | | (1) | | Sequoia Mortgage Trust 2015-2 B3, 3.742%, 05/25/2045 | | | 1,908,285 | | | | 0.0 | |
| 1,680,592 | | | (1) | | Sequoia Mortgage Trust 2015-3 B3, 3.714%, 07/25/2045 | | | 1,644,859 | | | | 0.0 | |
| 3,300,000 | | | (1) | | Sequoia Mortgage Trust 2017-CH2 A13, 4.000%, 12/25/2047 | | | 3,353,413 | | | | 0.1 | |
| 2,897,780 | | | (1) | | Sequoia Mortgage Trust 2018-CH1 A19, 4.000%, 02/25/2048 | | | 2,947,617 | | | | 0.1 | |
| 6,567,982 | | | (1) | | Sequoia Mortgage Trust 2018-CH1 B1B, 4.523%, 02/25/2048 | | | 6,845,763 | | | | 0.1 | |
| 2,705,873 | | | (1) | | Sequoia Mortgage Trust 2018-CH1 B2B, 4.523%, 02/25/2048 | | | 2,790,272 | | | | 0.1 | |
| 97,893 | | | | | Structured Adjustable Rate Mortgage Loan Trust 2004-12 7A3, 3.771%, 09/25/2034 | | | 99,617 | | | | 0.0 | |
| 1,360,000 | | | (1),(3) | | Verus Securitization Trust 2017-SG1A B1, 3.615%, 11/25/2047 | | | 1,356,961 | | | | 0.0 | |
| 1,773,000 | | | (1) | | Verus Securitization Trust 2018-1 B1, 3.801%, 01/25/2058 | | | 1,781,285 | | | | 0.0 | |
| 2,012,774 | | | | | Wachovia Mortgage Loan LLC Series 2005-B 2A1, 3.683%, 10/20/2035 | | | 2,026,048 | | | | 0.0 | |
| 565,407 | | | | | WaMu Mortgage Pass Through Certificates Series 2006-AR12 2A3, 2.751%, 10/25/2036 | | | 523,649 | | | | 0.0 | |
| 4,291,658 | | | | | WaMu Mortgage Pass-Through Certificates Series 2005-AR11 A1C3, 2.382%, (US0001M + 0.510%), 08/25/2045 | | | 4,189,219 | | | | 0.1 | |
| 119,398,909 | | | (4) | | WaMu Mortgage Pass-Through Certificates Series 2005-AR11 X, 1.083%, 08/25/2045 | | | 3,118,449 | | | | 0.1 | |
| 3,214,507 | | | | | WaMu Mortgage Pass-Through Certificates Series 2005-AR13 A1C3, 2.362%, (US0001M + 0.490%), 10/25/2045 | | | 3,177,103 | | | | 0.1 | |
| 592,712 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR12 1A1, 3.323%, 10/25/2036 | | | 579,064 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,362,980 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR14 1A4, 3.021%, 11/25/2036 | | | 1,308,823 | | | | 0.0 | |
| 1,660,612 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR16 2A1, 3.067%, 12/25/2036 | | | 1,509,565 | | | | 0.0 | |
| 3,839,157 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR16 2A3, 3.067%, 12/25/2036 | | | 3,489,951 | | | | 0.1 | |
| 2,216,059 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR16 3A1, 3.071%, 12/25/2036 | | | 2,165,796 | | | | 0.1 | |
| 2,176,553 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR8 1A4, 3.303%, 08/25/2046 | | | 2,060,518 | | | | 0.1 | |
| 2,937,201 | | | | | WaMu Mortgage Pass-Through Certificates Series 2007-HY2 1A1, 3.254%, 12/25/2036 | | | 2,829,703 | | | | 0.1 | |
| 684,457 | | | | | WaMu Mortgage Pass-Through Certificates Series 2007-HY3 1A1, 3.056%, 03/25/2037 | | | 614,886 | | | | 0.0 | |
| 1,926,338 | | | | | WaMu Mortgage Pass-Through Certificates Series 2007-HY4 1A1, 2.917%, 04/25/2037 | | | 1,759,548 | | | | 0.0 | |
| 2,369,226 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-10 2A3, 2.772%, (US0001M + 0.900%), 11/25/2035 | | | 1,946,201 | | | | 0.0 | |
| 2,161,180 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-11 A1, 5.750%, 01/25/2036 | | | 1,969,581 | | | | 0.0 | |
| 1,531,968 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-5 CB3, 5.500%, 07/25/2035 | | | 1,449,594 | | | | 0.0 | |
| 655,818 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-8 1A2, 5.500%, 10/25/2035 | | | 630,323 | | | | 0.0 | |
| 5,773,376 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2006-AR6 2A, 2.243%, (12MTA + 0.960%), 08/25/2046 | | | 4,380,534 | | | | 0.1 | |
| 975,542 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OC1 A3, 2.102%, (US0001M + 0.230%), 01/25/2047 | | | 897,598 | | | | 0.0 | |
| 2,021,029 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OC1 A4, 2.192%, (US0001M + 0.320%), 01/25/2047 | | | 1,875,413 | | | | 0.0 | |
| 1,479,065 | | | | | Wells Fargo Alternative Loan 2007-PA2 2A1, 2.302%, (US0001M + 0.430%), 06/25/2037 | | | 1,245,326 | | | | 0.0 | |
| 1,691,310 | | | | | Wells Fargo Alternative Loan 2007-PA3 3A1, 6.250%, 07/25/2037 | | | 1,603,806 | | | | 0.0 | |
| 715,919 | | | | | Wells Fargo Mortgage Backed Securities 2006-AR4 2A4, 4.153%, 04/25/2036 | | | 668,551 | | | | 0.0 | |
| 1,903,144 | | | (1) | | WinWater Mortgage Loan Trust 2015-5 B4, 3.798%, 08/20/2045 | | | 1,842,804 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | Total Collateralized Mortgage Obligations | | | | | | | | |
| | | | (Cost $631,276,156) | | | 631,347,004 | | | | 11.5 | |
| | | | | | | | | | | | | | |
COMMERCIAL MORTGAGE-BACKED SECURITIES: 5.9% |
| 25,311,168 | | | (4) | | BANK 2017-BNK4 XA, 1.453%, 05/15/2050 | | | 2,355,429 | | | | 0.0 | |
| 12,930,000 | | | | | BANK 2017-BNK8 A4, 3.488%, 11/15/2050 | | | 12,934,422 | | | | 0.2 | |
| 4,880,000 | | | | | BANK 2017-BNK8 B, 3.931%, 11/15/2050 | | | 4,970,430 | | | | 0.1 | |
| 167,655,000 | | | (4) | | BANK 2017-BNK8 XB, 0.176%, 11/15/2050 | | | 2,587,839 | | | | 0.1 | |
| 2,000,000 | | | (1) | | BAMLL Re-REMIC Trust 2015-FRR11 A705, 1.819%, 09/27/2044 | | | 1,972,057 | | | | 0.0 | |
| 610,618 | | | | | Banc of America Commercial Mortgage Trust 2007-3 B, 5.581%, 06/10/2049 | | | 618,654 | | | | 0.0 | |
| 92,840,000 | | | (1),(4) | | BBCCRE Trust 2015-GTP XA, 0.597%, 08/10/2033 | | | 3,870,871 | | | | 0.1 | |
| 692,955 | | | (1) | | Bear Stearns Commercial Mortgage Securities Trust 2004-TOP14 L, 5.405%, 01/12/2041 | | | 693,889 | | | | 0.0 | |
| 760,000 | | | (1) | | Bear Stearns Commercial Mortgage Securities Trust 2004-TOP14 M, 5.405%, 01/12/2041 | | | 756,245 | | | | 0.0 | |
| 760,000 | | | (1) | | Bear Stearns Commercial Mortgage Securities Trust 2004-TOP14 N, 5.405%, 01/12/2041 | | | 747,383 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 2,000,000 | | | (1) | | Bear Stearns Commercial Mortgage Securities Trust 2005-TOP18 G, 5.813%, 02/13/2042 | | | 2,006,476 | | | | 0.0 | |
| 1,981,843 | | | (1) | | Beckman Coulter, Inc. 2000-A A, 7.498%, 12/15/2018 | | | 1,979,683 | | | | 0.0 | |
| 6,540,000 | | | (1) | | BXMT 2017-FL1 A Ltd., 2.656%, (US0001M + 0.870%), 06/15/2035 | | | 6,571,871 | | | | 0.1 | |
| 4,520,000 | | | | | CCUBS Commercial Mortgage Trust 2017-C1 C, 4.394%, 11/15/2050 | | | 4,483,177 | | | | 0.1 | |
| 94,200,968 | | | (4) | | CCUBS Commercial Mortgage Trust 2017-C1 XA, 1.022%, 11/15/2050 | | | 6,543,840 | | | | 0.1 | |
| 25,391,336 | | | (4) | | CD 2016-CD1 Mortgage Trust XA, 1.434%, 08/10/2049 | | | 2,212,990 | | | | 0.0 | |
| 45,113,000 | | | (1),(4) | | CD 2016-CD1 Mortgage Trust XB, 0.683%, 08/10/2049 | | | 2,315,853 | | | | 0.0 | |
| 34,186,574 | | | (4) | | CD 2017-CD4 Mortgage Trust XA, 1.326%, 05/10/2050 | | | 2,964,923 | | | | 0.1 | |
| 2,520,000 | | | | | CD 2017-CD6 Mortgage Trust A5, 3.456%, 11/13/2050 | | | 2,505,161 | | | | 0.0 | |
| 4,280,000 | | | | | CD 2017-CD6 Mortgage Trust C, 4.269%, 11/13/2050 | | | 4,296,314 | | | | 0.1 | |
| 4,500,000 | | | (1) | | CHT 2017-COSMO A Mortgage Trust, 2.707%, (US0001M + 0.930%), 11/15/2036 | | | 4,515,637 | | | | 0.1 | |
| 4,139,000 | | | | | Citigroup Commercial Mortgage Trust 2013-GC17 C, 5.103%, 11/10/2046 | | | 4,360,878 | | | | 0.1 | |
| 3,430,000 | | | | | Citigroup Commercial Mortgage Trust 2014-GC25, 4.531%, 10/10/2047 | | | 3,417,209 | | | | 0.1 | |
| 3,040,000 | | | | | Citigroup Commercial Mortgage Trust 2016-P4 A4, 2.902%, 07/10/2049 | | | 2,925,121 | | | | 0.1 | |
| 41,635,556 | | | (4) | | Citigroup Commercial Mortgage Trust 2016-P4 XA, 2.005%, 07/10/2049 | | | 4,895,088 | | | | 0.1 | |
| 65,030,520 | | | (4) | | Citigroup Commercial Mortgage Trust 2017-C4 XA, 1.125%, 10/12/2050 | | | 4,906,800 | | | | 0.1 | |
| 3,940,000 | | | | | Citigroup Commercial Mortgage Trust 2017-P8 C, 4.272%, 09/15/2050 | | | 3,928,756 | | | | 0.1 | |
| 40,674,238 | | | (4) | | Citigroup Commercial Mortgage Trust 2017-P8 XA, 0.932%, 09/15/2050 | | | 2,769,066 | | | | 0.1 | |
| 5,000,000 | | | (1) | | Citigroup Commercial Mortgage Trust 2018-TBR E, 4.577%, (US0001M + 2.800%), 12/15/2036 | | | 5,023,173 | | | | 0.1 | |
| 5,075,016 | | | (4) | | COMM 2012-CR1 XA, 1.876%, 05/15/2045 | | | 314,482 | | | | 0.0 | |
| 30,147,696 | | | (4) | | COMM 2012-CR2 XA, 1.660%, 08/15/2045 | | | 1,746,022 | | | | 0.0 | |
| 35,795,845 | | | (4) | | COMM 2012-CR4 XA, 1.794%, 10/15/2045 | | | 2,123,202 | | | | 0.0 | |
| 27,260,000 | | | (1),(4) | | COMM 2012-CR4 XB, 0.596%, 10/15/2045 | | | 711,914 | | | | 0.0 | |
| 12,981,399 | | | (1),(4) | | COMM 2012-LC4 XA, 2.212%, 12/10/2044 | | | 772,722 | | | | 0.0 | |
| 189,865,646 | | | (4) | | COMM 2013-CCRE13 XA, 0.901%, 11/10/2046 | | | 5,877,823 | | | | 0.1 | |
| 4,240,000 | | | (1) | | COMM 2013-CR10 C, 4.789%, 08/10/2046 | | | 4,306,045 | | | | 0.1 | |
| 4,097,500 | | | | | COMM 2014-CCRE18, 4.456%, 07/15/2047 | | | 4,197,862 | | | | 0.1 | |
| 108,232,173 | | | (4) | | COMM 2014-UBS3 XA, 1.294%, 06/10/2047 | | | 5,404,887 | | | | 0.1 | |
| 139,537,842 | | | (1),(4) | | COMM 2015-PC1 XA, 0.744%, 07/10/2050 | | | 4,760,333 | | | | 0.1 | |
| 920,000 | | | | | COMM 2016-COR1 C, 4.394%, 10/10/2049 | | | 910,039 | | | | 0.0 | |
| 69,866,536 | | | (4) | | COMM 2016-CR28 XA, 0.541%, 02/10/2049 | | | 2,740,305 | | | | 0.1 | |
| 36,455,838 | | | (4) | | COMM 2017-COR2 XA, 1.184%, 09/10/2050 | | | 3,144,972 | | | | 0.1 | |
| 532,502 | | | (1) | | Credit Suisse First Boston Mortgage Securities Corp. 2004-C2 E, 5.736%, 05/15/2036 | | | 539,464 | | | | 0.0 | |
| 900,000 | | | (1) | | Credit Suisse First Boston Mortgage Securities Corp. 2004-C2 F, 6.287%, 05/15/2036 | | | 920,394 | | | | 0.0 | |
| 7,065,000 | | | (1),(6) | | DBRR Re-REMIC Trust 2015-FRR1 B711, 0.000%, 08/28/2045 | | | 6,605,164 | | | | 0.1 | |
| 2,840,000 | | | (1) | | DBUBS 2011-LC2A D, 5.565%, 07/10/2044 | | | 2,933,714 | | | | 0.1 | |
| 4,460,000 | | | (1) | | DBJPM 16-C3 Mortgage Trust, 3.494%, 09/10/2049 | | | 3,818,591 | | | | 0.1 | |
| 16,840,000 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K008 X3, 5.279%, 08/25/2020 | | | 1,855,739 | | | | 0.0 | |
| 27,973,945 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K010 X3, 4.623%, 11/25/2044 | | | 3,050,769 | | | | 0.1 | |
| 32,886,106 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K011 X3, 2.578%, 12/25/2043 | | | 2,016,241 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 77,599,012 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K013 X3, 2.814%, 01/25/2043 | | | 5,737,803 | | | | 0.1 | |
| 43,043,116 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K014 X1, 1.179%, 04/25/2021 | | | 1,302,846 | | | | 0.0 | |
| 30,930,035 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K020 X1, 1.423%, 05/25/2022 | | | 1,479,186 | | | | 0.0 | |
| 42,047,111 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K020 X3, 1.873%, 05/25/2040 | | | 2,868,227 | | | | 0.1 | |
| 20,890,903 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K021 X3, 1.969%, 07/25/2040 | | | 1,550,485 | | | | 0.0 | |
| 31,879,545 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K029 X3, 1.595%, 05/25/2041 | | | 2,196,644 | | | | 0.0 | |
| 32,460,000 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K040 X3, 2.036%, 11/25/2042 | | | 3,595,812 | | | | 0.1 | |
| 33,412,362 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K706 X1, 1.547%, 10/25/2018 | | | 190,113 | | | | 0.0 | |
| 28,189,511 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K707 X1, 1.513%, 12/25/2018 | | | 186,578 | | | | 0.0 | |
| 43,545,074 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K709 X1, 1.503%, 03/25/2019 | | | 453,191 | | | | 0.0 | |
| 42,782,242 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K711 X1, 1.681%, 07/25/2019 | | | 599,794 | | | | 0.0 | |
| 52,331,726 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K712 X1, 1.335%, 11/25/2019 | | | 835,026 | | | | 0.0 | |
| 214,201,687 | | | (1),(4) | | FREMF Mortgage Trust 2012-K17 X2A, 0.100%, 12/25/2044 | | | 619,064 | | | | 0.0 | |
| 3,400,000 | | | (1) | | GS Mortgage Securities Trust 2010-C2 D, 5.183%, 12/10/2043 | | | 3,419,540 | | | | 0.1 | |
| 3,000,000 | | | (1) | | GS Mortgage Securities Trust 2010-C2 E, 4.548%, 12/10/2043 | | | 2,861,945 | | | | 0.1 | |
| 2,710,000 | | | (1) | | GS Mortgage Securities Trust 2010-C2 F, 4.548%, 12/10/2043 | | | 2,436,150 | | | | 0.0 | |
| 23,931,752 | | | (4) | | GS Mortgage Securities Trust 2012-GCJ7 XA, 2.220%, 05/10/2045 | | | 1,363,157 | | | | 0.0 | |
| 66,463,841 | | | (4) | | GS Mortgage Securities Trust 2013-GC16 XA, 1.388%, 11/10/2046 | | | 2,515,065 | | | | 0.0 | |
| 113,906,309 | | | (4) | | GS Mortgage Securities Trust 2013-GCJ14 XA, 0.713%, 08/10/2046 | | | 3,114,882 | | | | 0.1 | |
| 76,883,430 | | | (4) | | GS Mortgage Securities Trust 2014-GC22 XA, 1.014%, 06/10/2047 | | | 3,409,180 | | | | 0.1 | |
| 83,202,195 | | | (4) | | GS Mortgage Securities Trust 2016-GS4 XA, 0.595%, 11/10/2049 | | | 2,947,271 | | | | 0.1 | |
| 262,270 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Corp. 2004-C2 H, 5.738%, 05/15/2041 | | | 262,096 | | | | 0.0 | |
| 17,385,000 | | | (1),(4) | | JP Morgan Chase Commercial Mortgage Securities Corp. 2012-LC9 XB, 0.328%, 12/15/2047 | | | 251,158 | | | | 0.0 | |
| 719,126 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Trust 2003-CB6 H, 5.379%, 07/12/2037 | | | 713,283 | | | | 0.0 | |
| 1,320,000 | | | | | JP Morgan Chase Commercial Mortgage Securities Trust 2004-CIBC9 E, 5.346%, 06/12/2041 | | | 1,319,310 | | | | 0.0 | |
| 2,400,000 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Trust 2011-C4 E, 5.678%, 07/15/2046 | | | 2,422,721 | | | | 0.0 | |
| 1,300,438 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Trust 2011-C4 TAC1, 7.990%, 07/15/2046 | | | 1,295,656 | | | | 0.0 | |
| 83,805,084 | | | (4) | | JP Morgan Chase Commercial Mortgage Securities Trust 2012-CIBX XA, 1.653%, 06/15/2045 | | | 3,615,175 | | | | 0.1 | |
| 2,900,000 | | | (1) | | JPMBB Commercial Mortgage Securities Trust 2013-C15 D, 5.081%, 11/15/2045 | | | 2,819,100 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 2,670,000 | | | | | JPMBB Commercial Mortgage Securities Trust 2013-C17 C, 4.882%, 01/15/2047 | | | 2,738,540 | | | | 0.1 | |
| 20,384,207 | | | (4) | | JPMBB Commercial Mortgage Securities Trust 2014-C19 XA, 1.137%, 04/15/2047 | | | 495,126 | | | | 0.0 | |
| 42,626,087 | | | (4) | | JPMBB Commercial Mortgage Securities Trust 2014-C26 XA, 1.126%, 01/15/2048 | | | 1,957,603 | | | | 0.0 | |
| 1,636,996 | | | (4) | | JPMBB Commercial Mortgage Securities Trust 2015-C28 XA, 1.160%, 10/15/2048 | | | 78,950 | | | | 0.0 | |
| 19,706,190 | | | (4) | | JPMCC Commercial Mortgage Securities Trust 2017-JP6 XA, 1.326%, 07/15/2050 | | | 1,435,978 | | | | 0.0 | |
| 242,353 | | | (1) | | LB-UBS Commercial Mortgage Trust 2005-C1 G, 5.667%, 02/15/2040 | | | 241,444 | | | | 0.0 | |
| 1,860,000 | | | (1) | | LB-UBS Commercial Mortgage Trust 2005-C1 H, 5.767%, 02/15/2040 | | | 1,861,120 | | | | 0.0 | |
| 30,093 | | | | | LB-UBS Commercial Mortgage Trust 2005-C3 D, 4.954%, 07/15/2040 | | | 30,209 | | | | 0.0 | |
| 1,130,000 | | | (1) | | LB-UBS Commercial Mortgage Trust 2005-C5 G, 5.350%, 09/15/2040 | | | 1,150,074 | | | | 0.0 | |
| 5,190,542 | | | (1),(4) | | LB-UBS Commercial Mortgage Trust 2006-C7 XW, 0.485%, 11/15/2038 | | | 15,468 | | | | 0.0 | |
| 56,876,361 | | | (1),(4) | | LSTAR Commercial Mortgage Trust 2017-5 X, 1.233%, 03/10/2050 | | | 2,772,933 | | | | 0.1 | |
| 1,550,000 | | | (1) | | Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5 D, 4.688%, 08/15/2045 | | | 1,562,076 | | | | 0.0 | |
| 108,412,451 | | | (4) | | Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 XA, 1.120%, 12/15/2047 | | | 4,867,426 | | | | 0.1 | |
| 11,653,000 | | | | | Morgan Stanley Bank of America Merrill Lynch Trust 2016-C31, 3.102%, 11/15/2049 | | | 11,321,165 | | | | 0.2 | |
| 3,090,000 | | | (1) | | Morgan Stanley Capital I Trust 2011-C1 D, 5.427%, 09/15/2047 | | | 3,218,200 | | | | 0.1 | |
| 1,300,000 | | | (1) | | Morgan Stanley Capital I Trust 2011-C1 E, 5.427%, 09/15/2047 | | | 1,351,134 | | | | 0.0 | |
| 46,983,266 | | | (4) | | Morgan Stanley Capital I, Inc. 2017-HR2 XA, 0.807%, 12/15/2050 | | | 2,860,252 | | | | 0.1 | |
| 4,430,000 | | | (1) | | Morgan Stanley Capital I, Inc. 2017-JWDR A, 2.627%, (US0001M + 0.850%), 11/15/2034 | | | 4,442,715 | | | | 0.1 | |
| 1,521,095 | | | (1) | | Morgan Stanley Reremic Trust 2012-XA B, 0.250%, 07/27/2049 | | | 1,494,123 | | | | 0.0 | |
| 4,900,000 | | | (1) | | TPG Real Estate Finance 2018-FL-1 C Issuer Ltd., 3.686%, (US0001M + 1.900%), 02/15/2035 | | | 4,921,181 | | | | 0.1 | |
| 41,936,033 | | | (4) | | Wells Fargo Commercial Mortgage Trust 2016-C35 XA, 1.991%, 07/15/2048 | | | 5,059,838 | | | | 0.1 | |
| 4,830,000 | | | | | Wells Fargo Commercial Mortgage Trust 2017-C40 C, 4.336%, 10/15/2050 | | | 4,760,214 | | | | 0.1 | |
| 5,170,000 | | | (1),(5),(6) | | Wells Fargo Re-REMIC Trust 2013-FRR1 B706, 0.000%, 12/27/2043 | | | 4,964,745 | | | | 0.1 | |
| 5,000,000 | | | (1),(5),(6) | | Wells Fargo Re-REMIC Trust 2013-FRR1 BK26, 0.000%, 01/27/2045 | | | 3,808,749 | | | | 0.1 | |
| 77,660,617 | | | (1),(4) | | WFRBS Commercial Mortgage Trust 2012-C10 XA, 1.580%, 12/15/2045 | | | 4,614,819 | | | | 0.1 | |
| 14,643,805 | | | (1),(4) | | WFRBS Commercial Mortgage Trust 2012-C8 XA, 1.849%, 08/15/2045 | | | 917,880 | | | | 0.0 | |
| 11,287,444 | | | (1),(4) | | WFRBS Commercial Mortgage Trust 2012-C9 XA, 1.910%, 11/15/2045 | | | 795,390 | | | | 0.0 | |
| 12,746,000 | | | (1) | | WFRBS Commercial Mortgage Trust 2013-C11 F, 4.272%, 03/15/2045 | | | 9,781,853 | | | | 0.2 | |
| 20,029,346 | | | (1) | | WFRBS Commercial Mortgage Trust 2013-C11 G, 4.272%, 03/15/2045 | | | 7,720,161 | | | | 0.1 | |
| 92,422,258 | | | (1),(4) | | WFRBS Commercial Mortgage Trust 2013-C12 XA, 1.279%, 03/15/2048 | | | 4,470,344 | | | | 0.1 | |
| 64,530,435 | | | (4) | | WFRBS Commercial Mortgage Trust 2013-C16 XA, 0.844%, 09/15/2046 | | | 1,962,429 | | | | 0.0 | |
| 90,212,321 | | | (4) | | WFRBS Commercial Mortgage Trust 2014-C25 XA, 0.916%, 11/15/2047 | | | 3,904,074 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | Total Commercial Mortgage-Backed Securities | | | | | | | | |
| | | | (Cost $323,625,002) | | | 320,836,590 | | | | 5.9 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
ASSET-BACKED SECURITIES: 12.3% |
| | | | | | Automobile Asset-Backed Securities: 0.2% | |
| 400,000 | | | | | CarMax Auto Owner Trust 2015-2 C, 2.390%, 03/15/2021 | | | 398,415 | | | | 0.0 | |
| 1,960,000 | | | | | GM Financial Automobile Leasing Trust 2015-2 B, 2.420%, 07/22/2019 | | | 1,959,314 | | | | 0.1 | |
| 1,890,000 | | | | | GM Financial Automobile Leasing Trust 2015-2 C, 2.990%, 07/22/2019 | | | 1,891,301 | | | | 0.0 | |
| 3,131,006 | | | (1) | | Oscar US Funding Trust 2014-1 A4, 2.550%, 12/15/2021 | | | 3,124,290 | | | | 0.1 | |
| 1,450,000 | | | (1) | | Oscar US Funding Trust VI LLC 2017-1A A3, 2.820%, 06/10/2021 | | | 1,441,248 | | | | 0.0 | |
| 1,550,000 | | | (1) | | Oscar US Funding Trust VII LLC 2017-2A A4, 2.760%, 12/10/2024 | | | 1,537,577 | | | | 0.0 | |
| 1,940,000 | | | (1) | | SunTrust Auto Receivables Trust 2015-1A B, 2.200%, 02/15/2021 | | | 1,918,191 | | | | 0.0 | |
| 800,000 | | | (1) | | Tesla Auto Lease Trust 2018-A D, 3.300%, 05/20/2020 | | | 798,359 | | | | 0.0 | |
| | | | | | | | | 13,068,695 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | | | Home Equity Asset-Backed Securities: 0.4% | |
| 8,263,846 | | | | | Freddie Mac Structured Pass Through Certificates T-31 A7, 1.871%, (US0001M + 0.250%), 05/25/2031 | | | 8,209,657 | | | | 0.1 | |
| 4,457,535 | | | | | GSAA Home Equity Trust 2006-4 4A3, 3.591%, 03/25/2036 | | | 3,719,466 | | | | 0.1 | |
| 4,450,657 | | | | | GSAA Trust 2006-7 AF2, 5.995%, 03/25/2046 | | | 3,077,648 | | | | 0.1 | |
| 403,557 | | | (3) | | HSI Asset Loan Obligation Trust 2007-WF1 A6, 4.868%, 12/25/2036 | | | 364,606 | | | | 0.0 | |
| 2,073,915 | | | | | Morgan Stanley Home Equity Loan Trust 2006-3 A3, 2.032%, (US0001M + 0.160%), 04/25/2036 | | | 1,586,622 | | | | 0.0 | |
| 1,408,538 | | | | | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A3, 2.032%, (US0001M + 0.160%), 02/25/2037 | | | 1,273,574 | | | | 0.0 | |
| 1,714,922 | | | | | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 2.102%, (US0001M + 0.230%), 02/25/2037 | | | 1,563,477 | | | | 0.0 | |
| 3,500,000 | | | (3) | | Renaissance Home Equity Loan Trust 2005-3 AF4, 5.140%, 11/25/2035 | | | 3,646,124 | | | | 0.1 | |
| | | | | | | | | 23,441,174 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Other Asset-Backed Securities: 11.0% | |
| 4,993,491 | | | (1),(3) | | Ajax Mortgage Loan Trust 2016-C A, 4.000%, 10/25/2057 | | | 5,021,354 | | | | 0.1 | |
| 1,750,017 | | | (1),(3) | | Ajax Mortgage Loan Trust 2017-A A, 3.470%, 04/25/2057 | | | 1,744,656 | | | | 0.0 | |
| 5,100,000 | | | (1) | | ALM VII R-2 Ltd. 2013-7R2A A2R, 3.722%, (US0003M + 2.000%), 10/15/2027 | | | 5,122,307 | | | | 0.1 | |
| 2,930,000 | | | (1) | | ALM VIII Ltd. 2013-8A A1R, 3.212%, (US0003M + 1.490%), 10/15/2028 | | | 2,943,012 | | | | 0.1 | |
| 1,096,334 | | | (1),(4),(7) | | American Homes 4 Rent 2015-SFR1 XS, 0.000%, 04/17/2052 | | | – | | | | – | |
| 1,076,000 | | | (1) | | American Homes 4 Rent 2015-SFR2 C, 4.691%, 10/17/2045 | | | 1,141,871 | | | | 0.0 | |
| 1,250,000 | | | (1) | | American Homes 4 Rent 2015-SFR2 D, 5.036%, 10/17/2045 | | | 1,337,868 | | | | 0.0 | |
| 6,926,917 | | | (1),(4),(7) | | American Homes 4 Rent 2015-SFR2 XS, 0.000%, 10/17/2045 | | | – | | | | – | |
| 3,440,000 | | | (1) | | Apidos CLO XI 2012-11A BR, 3.681%, (US0003M + 1.950%), 01/17/2028 | | | 3,452,332 | | | | 0.1 | |
| 3,900,000 | | | (1) | | Apidos CLO XII 2013-12A AR, 3.118%, (US0003M + 1.080%), 04/15/2031 | | | 3,907,507 | | | | 0.1 | |
| 500,000 | | | (1) | | Apidos CLO XII 2013-12A CR, 3.838%, (US0003M + 1.800%), 04/15/2031 | | | 501,428 | | | | 0.0 | |
| 3,130,000 | | | (1) | | Apidos CLO XVII 2014-17A A2R, 3.581%, (US0003M + 1.850%), 04/17/2026 | | | 3,130,870 | | | | 0.1 | |
| 5,420,000 | | | (1) | | Apidos CLO XVII 2014-17A BR, 4.231%, (US0003M + 2.500%), 04/17/2026 | | | 5,422,341 | | | | 0.1 | |
| 3,860,000 | | | (1) | | Apidos Clo XXV 2016-25A A1, 3.205%, (US0003M + 1.460%), 10/20/2028 | | | 3,873,190 | | | | 0.1 | |
| 10,000,000 | | | (1) | | Ares XLVI CLO Ltd. 2017-46A A2, 2.939%, (US0003M + 1.230%), 01/15/2030 | | | 10,058,130 | | | | 0.2 | |
| 4,350,000 | | | (1) | | Ares XXIX CLO Ltd. 2014-1A BR, 4.022%, (US0003M + 2.300%), 04/17/2026 | | | 4,351,540 | | | | 0.1 | |
| 4,410,000 | | | (1) | | Ares XXXII CLO Ltd. 2014-32A BR, 4.089%, (US0003M + 2.250%), 11/15/2025 | | | 4,418,511 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 4,500,000 | | | (1) | | ArrowMark Colorado Holdings 2017-7A C, 3.504%, (US0003M + 1.900%), 07/15/2030 | | | 4,511,340 | | | | 0.1 | |
| 2,000,000 | | | (1) | | Atrium CDO Corp. 12A CR, 3.395%, (US0003M + 1.650%), 04/22/2027 | | | 1,982,060 | | | | 0.0 | |
| 1,500,000 | | | (1) | | Atrium XIII 13A C, 3.241%, (US0003M + 1.800%), 11/21/2030 | | | 1,507,950 | | | | 0.0 | |
| 3,970,000 | | | (1) | | Avery Point IV CLO Ltd. 2014-1A CR, 4.095%, (US0003M + 2.350%), 04/25/2026 | | | 3,972,751 | | | | 0.1 | |
| 3,700,000 | | | (1) | | Babson CLO Ltd. 2014-3A AR, 3.042%, (US0003M + 1.320%), 01/15/2026 | | | 3,700,988 | | | | 0.1 | |
| 2,640,000 | | | (1) | | Babson CLO Ltd. 2014-3A C1R, 4.372%, (US0003M + 2.650%), 01/15/2026 | | | 2,653,570 | | | | 0.0 | |
| 3,620,000 | | | (1) | | Babson CLO Ltd. 2014-IA BR, 3.945%, (US0003M + 2.200%), 07/20/2025 | | | 3,621,491 | | | | 0.1 | |
| 1,650,000 | | | (1) | | Bain Capital Credit CLO 2017-1A A2, 3.095%, (US0003M + 1.350%), 07/20/2030 | | | 1,660,283 | | | | 0.0 | |
| 3,890,000 | | | (1) | | Barings CLO Ltd. 2017-1A A2, 3.084%, (US0003M + 1.350%), 07/18/2029 | | | 3,914,048 | | | | 0.1 | |
| 8,770,000 | | | (1) | | Benefit Street Partners CLO II Ltd. 2013-IIA A1R, 2.972%, (US0003M + 1.250%), 07/15/2029 | | | 8,829,583 | | | | 0.2 | |
| 9,250,000 | | | (1) | | Benefit Street Partners CLO VII Ltd. 2015-VIIA BR, 3.284%, (US0003M + 1.550%), 07/18/2027 | | | 9,238,900 | | | | 0.2 | |
| 7,500,000 | | | (1) | | Benefit Street Partners CLO VIII Ltd. 2015-8A A1BR, 2.919%, (US0003M + 1.200%), 01/20/2031 | | | 7,504,455 | | | | 0.1 | |
| 3,190,000 | | | (1) | | Benefit Street Partners CLO X Ltd. 2016-10A A1, 3.212%, (US0003M + 1.490%), 01/15/2029 | | | 3,207,031 | | | | 0.1 | |
| 5,000,000 | | | (1) | | Benefit Street Partners CLO XIV Ltd. 2018-14A A2, (US0003M + 1.150%), 04/20/2031 | | | 4,991,776 | | | | 0.1 | |
| 2,450,000 | | | (1) | | Birchwood Park CLO Ltd. 2014-1A C1R, 3.970%, (US0003M + 2.250%), 07/15/2026 | | | 2,450,637 | | | | 0.0 | |
| 6,520,000 | | | (1) | | Blue Hill CLO Ltd. 2013-1A C1R, 4.122%, (US0003M + 2.400%), 01/15/2026 | | | 6,520,874 | | | | 0.1 | |
| 4,350,000 | | | (1) | | BlueMountain CLO 2014-4A CR, 4.534%, (US0003M + 2.550%), 11/30/2026 | | | 4,368,857 | | | | 0.1 | |
| 4,070,000 | | | (1) | | BlueMountain CLO 2015-1A BR, 4.222%, (US0003M + 2.500%), 04/13/2027 | | | 4,099,385 | | | | 0.1 | |
| 3,270,000 | | | (1) | | Burnham Park Clo Ltd. 2016-1A A, 3.175%, (US0003M + 1.430%), 10/20/2029 | | | 3,324,694 | | | | 0.1 | |
| 10,000,000 | | | (1) | | Carbone CLO Ltd 2017-1A A1, 2.809%, (US0003M + 1.140%), 01/20/2031 | | | 10,033,170 | | | | 0.2 | |
| 3,000,000 | | | (1) | | Carbone CLO Ltd 2017-1A B, 3.469%, (US0003M + 1.800%), 01/20/2031 | | | 3,004,986 | | | | 0.1 | |
| 3,250,000 | | | (1),(7) | | Carlyle Global Market Strategies CLO Ltd. 2014-1A A2R2 0.000%, 04/17/2031 | | | 3,250,000 | | | | 0.1 | |
| 3,480,000 | | | (1) | | Carlyle Global Market Strategies CLO Ltd. 2014-3A BR, 3.910%, (US0003M + 2.150%), 07/27/2026 | | | 3,481,757 | | | | 0.1 | |
| 6,380,000 | | | (1) | | Carlyle Global Market Strategies CLO Ltd. 2017-1A A1A, 3.045%, (US0003M + 1.300%), 04/20/2031 | | | 6,410,331 | | | | 0.1 | |
| 4,300,000 | | | (1) | | Cedar Funding II CLO Ltd. 2013-1A CR, 4.407%, (US0003M + 2.350%), 06/09/2030 | | | 4,320,206 | | | | 0.1 | |
| 3,500,000 | | | (1) | | Cedar Funding IV CLO Ltd. 2014-4A CR, 3.995%, (US0003M + 2.250%), 07/23/2030 | | | 3,507,304 | | | | 0.1 | |
| 9,680,000 | | | (1) | | Cedar Funding VI CLO Ltd. 2016-6A A1, 2.833%, (US0003M + 1.470%), 10/20/2028 | | | 9,716,194 | | | | 0.2 | |
| 3,530,000 | | | (1) | | Cedar Funding VIII Clo Ltd. 2017-8A A1, 2.981%, (US0003M + 1.250%), 10/17/2030 | | | 3,551,032 | | | | 0.1 | |
| 4,700,000 | | | (1) | | Cent CLO 2014-22A A2AR, 3.744%, (US0003M + 1.950%), 11/07/2026 | | | 4,703,215 | | | | 0.1 | |
| 37,149 | | | | | Chase Funding Trust Series 2003-5 2A2, 2.472%, (US0001M + 0.600%), 07/25/2033 | | | 36,215 | | | | 0.0 | |
| 4,050,000 | | | (1) | | CIFC Funding 2013-2A A1LR, 2.944%, (US0003M + 1.210%), 10/18/2030 | | | 4,080,420 | | | | 0.1 | |
| 2,700,000 | | | (1) | | CIFC Funding 2013-2A A3LR, 3.684%, (US0003M + 1.950%), 10/18/2030 | | | 2,722,612 | | | | 0.0 | |
| 2,750,000 | | | (1) | | CIFC Funding 2014-4A C1R, 4.381%, (US0003M + 2.650%), 10/17/2026 | | | 2,751,331 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 3,660,000 | | | (1) | | CIFC Funding 2016-1A A, 3.225%, (US0003M + 1.480%), 10/21/2028 | | | 3,679,698 | | | | 0.1 | |
| 2,150,000 | | | (1) | | CIFC Funding 2017-2A C, 4.095%, (US0003M + 2.350%), 04/20/2030 | | | 2,164,676 | | | | 0.0 | |
| 7,400,000 | | | (1) | | CIFC Funding 2017-4 A1, 2.633%, (US0003M + 1.250%), 10/24/2030 | | | 7,487,979 | | | | 0.1 | |
| 3,000,000 | | | (1) | | CIFC Funding 2017-5A A1, 2.543%, (US0003M + 1.180%), 11/16/2030 | | | 3,023,361 | | | | 0.1 | |
| 1,000,000 | | | (1) | | CIFC Funding 2018-IA B Ltd., 3.557%, (US0003M + 1.400%), 04/18/2031 | | | 1,000,967 | | | | 0.0 | |
| 7,425,000 | | | | | Countrywide Asset-Backed Certificates 2005-AB2 M1, 2.577%, (US0001M + 0.705%), 09/25/2035 | | | 7,088,005 | | | | 0.1 | |
| 11,712,000 | | | | | Credit-Based Asset Servicing & Securitization LLC 2006-CB8 A2C, 2.022%, (US0001M + 0.150%), 10/25/2036 | | | 10,430,017 | | | | 0.2 | |
| 4,200,000 | | | (1) | | Deer Creek Clo Ltd. 2017-1A A, 3.177%, (US0003M + 1.180%), 10/20/2030 | | | 4,219,328 | | | | 0.1 | |
| 7,000,000 | | | (1) | | Dewolf Park Clo Ltd. 2017-1A A, 2.932%, (US0003M + 1.210%), 10/15/2030 | | | 7,054,362 | | | | 0.1 | |
| 5,565,000 | | | (1) | | Dryden 33 Senior Loan Fund 2014-33A AR, 3.152%, (US0003M + 1.430%), 10/15/2028 | | | 5,596,509 | | | | 0.1 | |
| 2,100,000 | | | (1) | | Dryden Senior Loan Fund 2014-34A CR, 3.872%, (US0003M + 2.150%), 10/15/2026 | | | 2,107,447 | | | | 0.0 | |
| 6,660,000 | | | (1) | | Dryden Senior Loan Fund 2017-47A A2, 3.072%, (US0003M + 1.350%), 04/15/2028 | | | 6,696,650 | | | | 0.1 | |
| 6,410,000 | | | (1) | | Dryden Senior Loan Fund 2017-47A C, 3.922%, (US0003M + 2.200%), 04/15/2028 | | | 6,456,376 | | | | 0.1 | |
| 7,700,000 | | | (1) | | Dryden XXV Senior Loan Fund 2012-25A CRR, 3.570%, (US0003M + 1.850%), 10/15/2027 | | | 7,712,974 | | | | 0.1 | |
| 5,565,000 | | | (1) | | Dryden XXVIII Senior Loan Fund 2013-28A A1LR, 3.039%, (US0003M + 1.200%), 08/15/2030 | | | 5,593,793 | | | | 0.1 | |
| 8,000,000 | | | (1) | | Eaton Vance Clo 2015-1A A2R Ltd., 2.727%, (US0003M + 1.250%), 01/20/2030 | | | 7,998,464 | | | | 0.1 | |
| 3,980,025 | | | (1) | | Five Guys Holdings, Inc. 2017-1A A2, 4.600%, 07/25/2047 | | | 4,051,096 | | | | 0.1 | |
| 3,000,000 | | | (1) | | Flatiron CLO Ltd. 2013-1A A2R, 3.381%, (US0003M + 1.650%), 01/17/2026 | | | 3,000,441 | | | | 0.1 | |
| 3,920,000 | | | (1) | | Flatiron CLO Ltd. 2013-1A BR, 4.081%, (US0003M + 2.350%), 01/17/2026 | | | 3,921,282 | | | | 0.1 | |
| 4,250,000 | | | (1) | | Galaxy XIX CLO Ltd. 2015-19A A1R, 2.961%, (US0003M + 1.220%), 07/24/2030 | | | 4,276,626 | | | | 0.1 | |
| 2,500,000 | | | (1) | | Galaxy XV CLO Ltd. 2013-15A AR, 2.922%, (US0003M + 1.200%), 10/15/2030 | | | 2,521,193 | | | | 0.0 | |
| 8,000,000 | | | (1) | | Galaxy XXI CLO Ltd. 2015-21A AR, 2.765%, (US0003M + 1.020%), 04/20/2031 | | | 7,996,712 | | | | 0.1 | |
| 2,300,000 | | | (1) | | Gilbert Park CLO Ltd. 2017-1A A, 2.555%, (US0003M + 1.190%), 10/15/2030 | | | 2,311,192 | | | | 0.0 | |
| 1,850,000 | | | (1) | | Gilbert Park CLO Ltd. 2017-1A B, 2.965%, (US0003M + 1.600%), 10/15/2030 | | | 1,861,218 | | | | 0.0 | |
| 2,100,000 | | | (1) | | Gilbert Park CLO Ltd. 2017-1A C, 3.315%, (US0003M + 1.950%), 10/15/2030 | | | 2,106,306 | | | | 0.0 | |
| 7,000,000 | | | (1) | | Goldentree Loan Management US Clo 2 Ltd. 2017-2A A, 2.724%, (US0003M + 1.150%), 11/28/2030 | | | 7,037,310 | | | | 0.1 | |
| 2,243,417 | | | (1) | | HERO Funding Trust 2015-2A A, 3.990%, 09/20/2040 | | | 2,226,373 | | | | 0.0 | |
| 2,112,989 | | | (1) | | HERO Funding Trust 2016-2A A, 3.750%, 09/20/2041 | | | 2,116,098 | | | | 0.0 | |
| 2,500,000 | | | (1) | | Invitation Homes Trust 2014-SFR2 E, 4.958%, (US0001M + 3.150%), 06/17/2032 | | | 2,508,456 | | | | 0.0 | |
| 1,500,000 | | | (1) | | Jay Park CLO Ltd. 2016-1A B, 4.145%, (US0003M + 2.400%), 10/20/2027 | | | 1,506,771 | | | | 0.0 | |
| 1,791,000 | | | (1) | | Jimmy Johns Funding LLC 2017-1A A2I, 3.610%, 07/30/2047 | | | 1,792,285 | | | | 0.0 | |
| 6,000,000 | | | (1),(8) | | KKR CLO 21 A Ltd., 3.340%, (US0003M + 1.000%), 04/15/2031 | | | 6,000,000 | | | | 0.1 | |
| 6,000,000 | | | (1) | | LCM 26A A2 Ltd. 0.000%, 3.176%, (US0003M + 1.250%), 01/20/2031 | | | 6,044,616 | | | | 0.1 | |
| 5,400,000 | | | (1) | | LCM XXIII Ltd. 23A A1, 3.145%, (US0003M + 1.400%), 10/20/2029 | | | 5,462,073 | | | | 0.1 | |
| 4,500,000 | | | (1) | | Madison Park Funding XI Ltd. 2013-11A CR, 3.945%, (US0003M + 2.200%), 07/23/2029 | | | 4,507,817 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 2,900,000 | | | (1) | | Madison Park Funding XIII Ltd. 2014-13A CR, 3.889%, (US0003M + 2.150%), 01/19/2025 | | | 2,901,482 | | | | 0.0 | |
| 5,400,000 | | | (1) | | Madison Park Funding XV Ltd. 2014-15A B1R, 3.960%, (US0003M + 2.200%), 01/27/2026 | | | 5,422,297 | | | | 0.1 | |
| 1,400,000 | | | (1) | | Madison Park Funding XXVII Ltd. 2018-27A B, 3.847%, (US0003M + 1.800%), 04/20/2030 | | | 1,401,358 | | | | 0.0 | |
| 1,100,000 | | | (1) | | Mill City Mortgage Loan Trust 2017-1 M2, 3.250%, 11/25/2058 | | | 1,073,264 | | | | 0.0 | |
| 3,200,000 | | | (1) | | Mill City Mortgage Loan Trust 2017-2 M2, 3.250%, 07/25/2059 | | | 3,119,202 | | | | 0.1 | |
| 4,633,175 | | | (1) | | Mosaic Solar Loans 2017-2A A LLC, 3.820%, 09/20/2042 | | | 4,599,852 | | | | 0.1 | |
| 1,700,000 | | | (1) | | Neuberger Berman Loan Advisers CLO 2017-26A C, 3.142%, (US0003M + 1.750%), 10/18/2030 | | | 1,700,741 | | | | 0.0 | |
| 3,000,000 | | | (1) | | Oaktree CLO 2015-1A BR Ltd., 3.395%, (US0003M + 1.650%), 10/20/2027 | | | 3,001,182 | | | | 0.1 | |
| 9,470,000 | | | (1) | | Octagon Investment Partners 30 Ltd. 2017-1A A1, 3.065%, (US0003M + 1.320%), 03/17/2030 | | | 9,634,191 | | | | 0.2 | |
| 3,000,000 | | | (1) | | Octagon Investment Partners Ltd. 2017-1A A2, 3.072%, (US0003M + 1.350%), 07/15/2029 | | | 3,021,927 | | | | 0.1 | |
| 5,520,000 | | | (1) | | Octagon Investment Partners XIV Ltd. 2012-1A A1BR, 3.097%, (US0003M + 1.375%), 07/15/2029 | | | 5,575,145 | | | | 0.1 | |
| 1,570,000 | | | (1) | | Octagon Investment Partners XIX Ltd. 2014-1A CR, 3.822%, (US0003M + 2.100%), 04/15/2026 | | | 1,570,135 | | | | 0.0 | |
| 4,060,000 | | | (1) | | Octagon Investment Partners XV Ltd. 2013-1A A2R, 3.089%, (US0003M + 1.350%), 07/19/2030 | | | 4,099,414 | | | | 0.1 | |
| 1,500,000 | | | (1) | | OHA Credit Partners XIV Ltd. 2017-14A C, 3.383%, (US0003M + 1.800%), 01/21/2030 | | | 1,493,316 | | | | 0.0 | |
| 5,660,000 | | | (1) | | OHA Loan Funding Ltd. 2015-1A AR, 3.249%, (US0003M + 1.410%), 08/15/2029 | | | 5,742,076 | | | | 0.1 | |
| 5,980,000 | | | (1) | | OHA Loan Funding Ltd. 2015-1A BR, 3.639%, (US0003M + 1.800%), 08/15/2029 | | | 5,998,795 | | | | 0.1 | |
| 6,000,000 | | | (1) | | Palmer Square CLO 2013-2A BR Ltd., 3.981%, (US0003M + 2.250%), 10/17/2027 | | | 6,022,620 | | | | 0.1 | |
| 3,550,000 | | | (1) | | Palmer Square CLO 2014-1A A1R2 Ltd., 2.861%, (US0003M + 1.130%), 01/17/2031 | | | 3,575,777 | | | | 0.1 | |
| 4,600,000 | | | (1) | | Palmer Square CLO 2014-1A BR2 Ltd., 3.581%, (US0003M + 1.850%), 01/17/2031 | | | 4,612,052 | | | | 0.1 | |
| 8,550,000 | | | (1) | | Palmer Square CLO 2015-1A BR Ltd., 4.442%, (US0003M + 2.550%), 05/21/2029 | | | 8,612,475 | | | | 0.2 | |
| 2,190,000 | | | (1) | | Palmer Square CLO 2015-2A A1AR Ltd., 3.015%, (US0003M + 1.270%), 07/20/2030 | | | 2,198,738 | | | | 0.0 | |
| 4,340,000 | | | (1) | | Palmer Square CLO 2015-2A A1BR Ltd., 3.095%, (US0003M + 1.350%), 07/20/2030 | | | 4,362,655 | | | | 0.1 | |
| 10,000,000 | | | (1) | | Palmer Square CLO 2018-1A A1 Ltd., 3.208%, (US0003M + 1.030%), 04/18/2031 | | | 9,999,840 | | | | 0.2 | |
| 5,950,000 | | | (1) | | Palmer Square Loan Funding 2017-1A C Ltd., 4.522%, (US0003M + 2.800%), 10/15/2025 | | | 5,959,294 | | | | 0.1 | |
| 6,700,000 | | | (1) | | Palmer Square Loan Funding 2018-1A B Ltd., 3.623%, (US0003M + 1.400%), 04/15/2026 | | | 6,699,946 | | | | 0.1 | |
| 4,000,000 | | | (1) | | Palmer Square Loan Funding 2018-1A C Ltd., 4.073%, (US0003M + 1.850%), 04/15/2026 | | | 3,999,960 | | | | 0.1 | |
| 1,000,000 | | | (1),(8) | | Palmer Square Loan Funding 2018-2A C Ltd., 4.310%, (US0003M + 1.950%), 07/15/2026 | | | 1,000,000 | | | | 0.0 | |
| 879,281 | | | (3) | | Popular ABS Mortgage Pass-Through Trust 2005-D A5, 4.135%, 01/25/2036 | | | 873,685 | | | | 0.0 | |
| 4,000,000 | | | (1) | | Progress Residential 2015-SFR2 E, 4.427%, 06/12/2032 | | | 4,023,927 | | | | 0.1 | |
| 4,000,000 | | | (1) | | Progress Residential 2015-SFR3 C, 4.327%, 11/12/2032 | | | 4,070,209 | | | | 0.1 | |
| 5,312,000 | | | (1) | | Recette CLO Ltd. 2015-1A CR, 3.445%, (US0003M + 1.700%), 10/20/2027 | | | 5,314,364 | | | | 0.1 | |
| 4,876,000 | | | (1) | | SoFi Consumer Loan Program 2017-3 B, 3.850%, 05/25/2026 | | | 4,910,388 | | | | 0.1 | |
| 5,000,000 | | | (1) | | Sofi Consumer Loan Program 2018-1 C Trust, 3.970%, 02/25/2027 | | | 4,993,928 | | | | 0.1 | |
| 4,718,505 | | | (1) | | Springleaf Funding Trust 2015-A A, 3.160%, 11/15/2024 | | | 4,723,344 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 7,320,000 | | | (1) | | Symphony CLO Ltd. 2012-9A AR, 3.172%, (US0003M + 1.450%), 10/16/2028 | | | 7,351,051 | | | | 0.1 | |
| 3,120,000 | | | (1) | | Symphony CLO Ltd. 2016-18A B, 3.545%, (US0003M + 1.800%), 01/23/2028 | | | 3,136,152 | | | | 0.1 | |
| 3,080,000 | | | (1) | | Symphony CLO XIV Ltd. 2014-14A C1R, 4.222%, (US0003M + 2.500%), 07/14/2026 | | | 3,085,489 | | | | 0.1 | |
| 3,406,875 | | | (1) | | Taco Bell Funding 2016-1A A2I, 3.832%, 05/25/2046 | | | 3,432,465 | | | | 0.1 | |
| 617,188 | | | (1) | | Taco Bell Funding LLC 2016-1A A2II, 4.377%, 05/25/2046 | | | 633,359 | | | | 0.0 | |
| 4,100,000 | | | (1) | | TES LLC 2017-1A B, 7.740%, 10/20/2047 | | | 4,077,671 | | | | 0.1 | |
| 2,580,000 | | | (1) | | Thacher Park CLO Ltd. 2014-1A CR, 3.945%, (US0003M + 2.200%), 10/20/2026 | | | 2,581,063 | | | | 0.0 | |
| 7,000,000 | | | (1) | | THL Credit Wind River 2013-2A AR CLO Ltd., 2.964%, (US0003M + 1.230%), 10/18/2030 | | | 7,054,719 | | | | 0.1 | |
| 3,000,000 | | | (1) | | THL Credit Wind River 2013-2A CR CLO Ltd., 3.734%, (US0003M + 2.000%), 10/18/2030 | | | 3,009,075 | | | | 0.1 | |
| 6,000,000 | | | (1) | | THL Credit Wind River 2017-1A C CLO Ltd., 4.034%, (US0003M + 2.300%), 04/18/2029 | | | 6,040,560 | | | | 0.1 | |
| 7,080,000 | | | (1) | | THL Credit Wind River 2017-2A A CLO Ltd., 2.975%, (US0003M + 1.230%), 07/20/2030 | | | 7,122,324 | | | | 0.1 | |
| 3,500,000 | | | (1) | | THL Credit Wind River 2017-4A C CLO Ltd., 3.635%, (US0003M + 1.750%), 11/20/2030 | | | 3,500,490 | | | | 0.1 | |
| 9,030,000 | | | (1) | | THL Credit Wind River CLO Ltd. 2016-2A A, 3.273%, (US0003M + 1.500%), 11/01/2028 | | | 9,069,136 | | | | 0.2 | |
| 7,500,000 | | | (1) | | Tiaa Clo III Ltd 2017-2A A, 2.627%, (US0003M + 1.150%), 01/16/2031 | | | 7,529,063 | | | | 0.1 | |
| 1,400,000 | | | (1) | | Towd Point Mortgage Trust 2015-2 1B1, 3.570%, 11/25/2060 | | | 1,447,013 | | | | 0.0 | |
| 2,640,000 | | | (1) | | Towd Point Mortgage Trust 2015-2 2B2, 4.318%, 11/25/2057 | | | 2,769,796 | | | | 0.0 | |
| 4,346,000 | | | (1) | | Towd Point Mortgage Trust 2016-2 M1, 3.000%, 08/25/2055 | | | 4,191,305 | | | | 0.1 | |
| 3,200,000 | | | (1) | | Towd Point Mortgage Trust 2017-1 M1, 3.750%, 10/25/2056 | | | 3,247,788 | | | | 0.1 | |
| 2,200,000 | | | (1) | | Towd Point Mortgage Trust 2017-3 M1, 3.500%, 07/25/2057 | | | 2,167,834 | | | | 0.0 | |
| 9,525,000 | | | (1) | | Towd Point Mortgage Trust 2017-6 M2, 3.250%, 10/25/2057 | | | 9,044,126 | | | | 0.2 | |
| 1,500,000 | | | (1) | | Venture XX CLO Ltd. 2015-20A CR, 3.622%, (US0003M + 1.900%), 04/15/2027 | | | 1,484,774 | | | | 0.0 | |
| 1,995,000 | | | (1) | | Wendys Funding LLC 2018-1A A2I, 3.573%, 03/15/2048 | | | 1,973,235 | | | | 0.0 | |
| | | | | | | | | 599,870,901 | | | | 11.0 | |
| | | | | | | | | | | | | | |
| | | | | | Student Loan Asset-Backed Securities: 0.7% | |
| 1,824,287 | | | (1) | | Commonbond Student Loan Trust 2016-B, 4.000%, 10/25/2040 | | | 1,801,516 | | | | 0.0 | |
| 2,300,000 | | | (1) | | Commonbond Student Loan Trust 2017-BGS B, 3.260%, 09/25/2042 | | | 2,234,458 | | | | 0.0 | |
| 1,187,519 | | | (1) | | DRB Prime Student Loan Trust 2015-B A2, 3.170%, 07/25/2031 | | | 1,183,191 | | | | 0.0 | |
| 1,681,478 | | | (1) | | DRB Prime Student Loan Trust 2015-D A2, 3.200%, 01/25/2040 | | | 1,671,702 | | | | 0.0 | |
| 2,900,000 | | | (1) | | DRB Prime Student Loan Trust 2017-A A2B, 2.850%, 05/27/2042 | | | 2,853,795 | | | | 0.1 | |
| 758,537 | | | (1) | | Earnest Student Loan Program, LLC 2016-A B, 2.500%, 01/25/2039 | | | 723,528 | | | | 0.0 | |
| 899,574 | | | (1) | | Earnest Student Loan Program, LLC 2016-B B, 4.810%, 09/25/2036 | | | 910,872 | | | | 0.0 | |
| 693,423 | | | (1) | | Earnest Student Loan Program, LLC 2016-C B, 4.460%, 01/26/2037 | | | 693,363 | | | | 0.0 | |
| 980,792 | | | (1) | | Laurel Road Prime Student Loan Trust 2017-B A4, 3.020%, 08/25/2042 | | | 957,609 | | | | 0.0 | |
| 3,000,000 | | | (1) | | Navient Private Education Refi Loan Trust 2018-A B, 3.680%, 02/18/2042 | | | 3,009,472 | | | | 0.1 | |
| 1,200,000 | | | (1) | | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 | | | 1,137,864 | | | | 0.0 | |
| 1,503,028 | | | (1) | | SoFi Professional Loan Program 2015-C A2, 2.510%, 08/25/2033 | | | 1,481,122 | | | | 0.0 | |
| 4,100,000 | | | (1) | | SoFi Professional Loan Program 2016-E C, 4.430%, 10/25/2041 | | | 4,005,924 | | | | 0.1 | |
| 2,400,000 | | | (1) | | SoFi Professional Loan Program 2017-C B, 3.560%, 07/25/2040 | | | 2,319,511 | | | | 0.1 | |
| 2,900,000 | | | (1) | | Sofi Professional Loan Program 2018-A B LLC, 3.610%, 02/25/2042 | | | 2,888,741 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 8,000,000 | | | (1) | | Sofi Professional Loan Program 2018-B BFX Trust, 3.830%, 08/25/2047 | | | 8,087,211 | | | | 0.2 | |
| | | | | | | | | 35,959,879 | | | | 0.7 | |
| | | | | | | | | | | | | | |
| | | | Total Asset-Backed Securities | | | | | | | | |
| | | | (Cost $669,544,206) | | | 672,340,649 | | | | 12.3 | |
| | | | | | | | | | | | | | |
U.S. TREASURY OBLIGATIONS: 23.7% |
| | | | | | U.S. Treasury Bonds: 6.1% | |
| 144,289,000 | | | | | 2.750%, 02/15/2028 | | | 144,273,397 | | | | 2.6 | |
| 197,319,000 | | | (2) | | 2.750%, 11/15/2047 | | | 188,254,840 | | | | 3.5 | |
| 80,000 | | | | | 3.500%, 02/15/2039 | | | 87,775 | | | | 0.0 | |
| | | | | | | | | 332,616,012 | | | | 6.1 | |
| | | | | | | | | | | | | | |
| | | | | | U.S. Treasury Notes: 17.6% | |
| 16,024,000 | | | | | 1.625%, 03/31/2019 | | | 15,944,809 | | | | 0.3 | |
| 36,350,000 | | | | | 2.250%, 02/29/2020 | | | 36,332,447 | | | | 0.7 | |
| 347,876,000 | | | | | 2.250%, 03/31/2020 | | | 347,689,518 | | | | 6.3 | |
| 233,356,000 | | | | | 2.375%, 03/15/2021 | | | 233,237,140 | | | | 4.3 | |
| 265,768,000 | | | | | 2.500%, 03/31/2023 | | | 264,877,201 | | | | 4.8 | |
| 16,667,000 | | | (2) | | 2.625%, 02/28/2023 | | | 16,713,845 | | | | 0.3 | |
| 22,534,000 | | | | | 2.625%, 03/31/2025 | | | 22,433,968 | | | | 0.4 | |
| 27,063,000 | | | | | 2.750%, 02/28/2025 | | | 27,163,938 | | | | 0.5 | |
| | | | | | | | | 964,392,866 | | | | 17.6 | |
| | | | | | | | | | | | | | |
| | | | Total U.S. Treasury Obligations | | | | | | | | |
| | | | (Cost $1,289,220,207) | | | 1,297,008,878 | | | | 23.7 | |
| | | | | | | | | | | | | | |
U.S. GOVERNMENT AGENCY OBLIGATIONS: 14.8% |
| | | | | | Federal Home Loan Mortgage Corporation: 5.1%(9) | |
| 1,373,998 | | | | | 2.500%, 05/01/2030 | | | 1,346,731 | | | | 0.0 | |
| 1,105,829 | | | | | 2.500%, 05/01/2030 | | | 1,084,516 | | | | 0.0 | |
| 1,843,198 | | | | | 2.500%, 06/01/2030 | | | 1,806,583 | | | | 0.0 | |
| 11,794,000 | | | (8) | | 3.000%, 11/15/2026 | | | 11,773,266 | | | | 0.2 | |
| 2,695,354 | | | | | 3.000%, 03/01/2045 | | | 2,642,064 | | | | 0.1 | |
| 2,980,709 | | | | | 3.000%, 03/01/2045 | | | 2,921,777 | | | | 0.1 | |
| 6,722,799 | | | | | 3.000%, 04/01/2045 | | | 6,588,057 | | | | 0.1 | |
| 6,613,899 | | | | | 3.000%, 04/01/2045 | | | 6,477,763 | | | | 0.1 | |
| 24,502,000 | | | (8) | | 3.000%, 04/01/2048 | | | 23,891,364 | | | | 0.4 | |
| 10,734,240 | | | | | 3.500%, 01/01/2045 | | | 10,821,702 | | | | 0.2 | |
| 3,711,284 | | | | | 3.500%, 03/01/2045 | | | 3,732,262 | | | | 0.1 | |
| 107,081,000 | | | (8) | | 3.500%, 04/01/2048 | | | 107,339,206 | | | | 2.0 | |
| 7,470 | | | | | 3.633%, 05/01/2037 | | | 7,827 | | | | 0.0 | |
| 1,428,565 | | | | | 4.000%, 10/01/2041 | | | 1,479,726 | | | | 0.0 | |
| 2,326,230 | | | | | 4.000%, 12/01/2041 | | | 2,409,531 | | | | 0.1 | |
| 3,209,640 | | | | | 4.000%, 08/01/2044 | | | 3,309,642 | | | | 0.1 | |
| 1,984,923 | | | | | 4.000%, 07/01/2045 | | | 2,046,597 | | | | 0.0 | |
| 5,069,835 | | | | | 4.000%, 09/01/2045 | | | 5,227,422 | | | | 0.1 | |
| 7,099,508 | | | | | 4.000%, 09/01/2045 | | | 7,319,897 | | | | 0.1 | |
| 3,592,872 | | | | | 4.000%, 09/01/2045 | | | 3,704,154 | | | | 0.1 | |
| 5,316,845 | | | | | 4.000%, 05/01/2046 | | | 5,482,035 | | | | 0.1 | |
| 1,247,717 | | | | | 4.000%, 03/01/2048 | | | 1,282,954 | | | | 0.0 | |
| 42,716,000 | | | (8) | | 4.000%, 05/01/2048 | | | 43,775,555 | | | | 0.8 | |
| 1,126,403 | | | | | 4.500%, 08/01/2041 | | | 1,185,636 | | | | 0.0 | |
| 1,417,753 | | | | | 4.500%, 09/01/2041 | | | 1,499,238 | | | | 0.0 | |
| 1,332,438 | | | | | 4.500%, 10/01/2041 | | | 1,409,810 | | | | 0.0 | |
| 2,040,686 | | | | | 4.500%, 03/01/2044 | | | 2,154,930 | | | | 0.1 | |
| 9,799,174 | | | | | 4.500%, 02/01/2048 | | | 10,278,184 | | | | 0.2 | |
| 139,905 | | | | | 5.000%, 01/01/2041 | | | 150,922 | | | | 0.0 | |
| 1,419,541 | | | | | 5.000%, 04/01/2041 | | | 1,528,435 | | | | 0.0 | |
| 42,482 | | | | | 5.500%, 07/01/2037 | | | 46,450 | | | | 0.0 | |
| 2,235,214 | | | | | 5.500%, 11/01/2038 | | | 2,465,410 | | | | 0.1 | |
| 4,745 | | | | | 6.000%, 12/01/2028 | | | 5,274 | | | | 0.0 | |
| 17,931 | | | | | 6.000%, 01/01/2029 | | | 19,929 | | | | 0.0 | |
| 7,580 | | | | | 6.500%, 01/01/2024 | | | 8,540 | | | | 0.0 | |
| 7,426 | | | | | 6.500%, 12/01/2031 | | | 8,369 | | | | 0.0 | |
| 709,305 | | | | | 6.500%, 09/01/2034 | | | 799,384 | | | | 0.0 | |
| 1,097 | | | | | 7.000%, 03/01/2032 | | | 1,135 | | | | 0.0 | |
| | | | | | | | | 278,032,277 | | | | 5.1 | |
| | | | | | | | | | | | | | |
| | | | | | Federal National Mortgage Association: 8.0%(9) | |
| 18,700,000 | | | (8) | | 2.500%, 12/25/2026 | | | 18,324,540 | | | | 0.3 | |
| 2,263,862 | | | | | 2.500%, 05/01/2030 | | | 2,227,121 | | | | 0.0 | |
| 5,170,592 | | | | | 2.500%, 06/01/2030 | | | 5,086,595 | | | | 0.1 | |
| 3,502,625 | | | | | 2.500%, 06/01/2030 | | | 3,445,730 | | | | 0.1 | |
| 2,157,782 | | | | | 2.500%, 07/01/2030 | | | 2,122,721 | | | | 0.0 | |
| 2,989,724 | | | | | 3.000%, 08/01/2030 | | | 2,993,826 | | | | 0.1 | |
| 1,836,500 | | | | | 3.000%, 09/01/2030 | | | 1,839,030 | | | | 0.0 | |
| 5,510,816 | | | | | 3.000%, 04/01/2043 | | | 5,427,455 | | | | 0.1 | |
| 4,323,550 | | | | | 3.000%, 07/01/2043 | | | 4,258,273 | | | | 0.1 | |
| 1,153,796 | | | | | 3.000%, 08/01/2043 | | | 1,136,371 | | | | 0.0 | |
| 1,017,092 | | | | | 3.000%, 09/01/2043 | | | 1,001,726 | | | | 0.0 | |
| 13,991,414 | | | | | 3.000%, 04/01/2045 | | | 13,724,495 | | | | 0.3 | |
| 2,791,548 | | | | | 3.000%, 08/01/2046 | | | 2,733,607 | | | | 0.1 | |
| 1,463,094 | | | | | 3.000%, 11/01/2046 | | | 1,431,509 | | | | 0.0 | |
| 142,865,000 | | | (8) | | 3.000%, 04/01/2048 | | | 139,349,182 | | | | 2.6 | |
| 145,149 | | | | | 3.188%, 07/01/2035 | | | 150,829 | | | | 0.0 | |
| 7,287,826 | | | | | 3.500%, 10/01/2042 | | | 7,354,243 | | | | 0.1 | |
| 2,296,097 | | | | | 3.500%, 04/01/2043 | | | 2,315,814 | | | | 0.0 | |
| 7,247,202 | | | | | 3.500%, 08/01/2043 | | | 7,308,734 | | | | 0.1 | |
| 4,497,567 | | | | | 3.500%, 03/01/2044 | | | 4,541,352 | | | | 0.1 | |
| 132,000 | | | (8) | | 3.500%, 04/01/2044 | | | 132,286 | | | | 0.0 | |
| 537,229 | | | | | 3.500%, 01/01/2046 | | | 540,484 | | | | 0.0 | |
| 791,220 | | | | | 3.500%, 02/01/2046 | | | 796,013 | | | | 0.0 | |
| 405,711 | | | | | 3.500%, 02/01/2046 | | | 408,170 | | | | 0.0 | |
| 32,537,225 | | | | | 3.500%, 08/01/2046 | | | 32,736,534 | | | | 0.6 | |
| 2,863,176 | | | | | 3.500%, 02/01/2048 | | | 2,877,787 | | | | 0.1 | |
| 7,726,000 | | | (8) | | 4.000%, 02/25/2039 | | | 7,915,443 | | | | 0.2 | |
| 676,777 | | | | | 4.000%, 03/01/2042 | | | 699,927 | | | | 0.0 | |
| 438,743 | | | | | 4.000%, 07/01/2042 | | | 453,762 | | | | 0.0 | |
| 2,598,131 | | | | | 4.000%, 07/01/2042 | | | 2,687,077 | | | | 0.1 | |
| 2,329,064 | | | | | 4.000%, 07/01/2042 | | | 2,398,195 | | | | 0.1 | |
| 1,447,862 | | | | | 4.000%, 09/01/2043 | | | 1,497,522 | | | | 0.0 | |
| 3,054,543 | | | | | 4.000%, 01/01/2045 | | | 3,140,133 | | | | 0.1 | |
| 21,704,556 | | | | | 4.000%, 01/01/2045 | | | 22,521,718 | | | | 0.4 | |
| 1,589,563 | | | | | 4.000%, 03/01/2045 | | | 1,633,093 | | | | 0.0 | |
| 19,710,066 | | | | | 4.000%, 05/01/2045 | | | 20,273,636 | | | | 0.4 | |
| 3,300,533 | | | | | 4.000%, 06/01/2045 | | | 3,405,003 | | | | 0.1 | |
| 12,612,937 | | | | | 4.000%, 12/01/2046 | | | 13,031,296 | | | | 0.2 | |
| 1,226,688 | | | | | 4.000%, 03/01/2048 | | | 1,261,114 | | | | 0.0 | |
| 3,651,969 | | | | | 4.000%, 03/01/2048 | | | 3,754,456 | | | | 0.1 | |
| 2,758,966 | | | | | 4.250%, 11/01/2043 | | | 2,876,424 | | | | 0.1 | |
| 5,000,000 | | | (8) | | 4.500%, 05/15/2035 | | | 5,227,246 | | | | 0.1 | |
| 5,108,729 | | | | | 4.500%, 11/01/2040 | | | 5,407,262 | | | | 0.1 | |
| 302,576 | | | | | 4.500%, 11/01/2040 | | | 320,187 | | | | 0.0 | |
| 581,609 | | | | | 4.500%, 11/01/2040 | | | 615,504 | | | | 0.0 | |
| 5,391 | | | | | 4.500%, 12/01/2040 | | | 5,705 | | | | 0.0 | |
| 10,258 | | | | | 4.500%, 12/01/2040 | | | 10,856 | | | | 0.0 | |
| 8,719 | | | | | 4.500%, 01/01/2041 | | | 9,227 | | | | 0.0 | |
| 11,927 | | | | | 4.500%, 01/01/2041 | | | 12,621 | | | | 0.0 | |
| 815,026 | | | | | 4.500%, 10/01/2041 | | | 862,543 | | | | 0.0 | |
| 6,783,742 | | | | | 4.500%, 04/01/2047 | | | 7,136,687 | | | | 0.1 | |
| 7,343,378 | | | | | 4.500%, 06/01/2047 | | | 7,732,826 | | | | 0.1 | |
| 8,528,370 | | | | | 4.500%, 06/01/2047 | | | 8,979,789 | | | | 0.2 | |
| 10,226,384 | | | | | 4.500%, 07/01/2047 | | | 10,768,732 | | | | 0.2 | |
| 8,923,332 | | | | | 4.500%, 08/01/2047 | | | 9,396,576 | | | | 0.2 | |
| 176,692 | | | | | 5.000%, 06/01/2033 | | | 190,842 | | | | 0.0 | |
| 35,002 | | | | | 5.000%, 09/01/2033 | | | 37,810 | | | | 0.0 | |
| 101,261 | | | | | 5.000%, 11/01/2033 | | | 109,714 | | | | 0.0 | |
| 34,535 | | | | | 5.000%, 03/01/2034 | | | 37,372 | | | | 0.0 | |
| 31,098 | | | | | 5.000%, 03/01/2034 | | | 33,692 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 227,368 | | | | | 5.000%, 02/01/2035 | | | 245,592 | | | | 0.0 | |
| 8,822 | | | | | 5.000%, 06/01/2035 | | | 9,529 | | | | 0.0 | |
| 156,533 | | | | | 5.000%, 06/01/2035 | | | 169,075 | | | | 0.0 | |
| 88,185 | | | | | 5.000%, 07/01/2035 | | | 95,247 | | | | 0.0 | |
| 365,894 | | | | | 5.000%, 07/01/2035 | | | 395,256 | | | | 0.0 | |
| 631,772 | | | | | 5.000%, 08/01/2035 | | | 682,124 | | | | 0.0 | |
| 34,968 | | | | | 5.000%, 10/01/2035 | | | 37,745 | | | | 0.0 | |
| 759,545 | | | | | 5.000%, 10/01/2035 | | | 820,455 | | | | 0.0 | |
| 423,405 | | | | | 5.000%, 02/01/2036 | | | 457,337 | | | | 0.0 | |
| 6,137 | | | | | 5.000%, 03/01/2036 | | | 6,628 | | | | 0.0 | |
| 79,229 | | | | | 5.000%, 03/01/2036 | | | 85,586 | | | | 0.0 | |
| 12,547 | | | | | 5.000%, 05/01/2036 | | | 13,545 | | | | 0.0 | |
| 8,449 | | | | | 5.000%, 06/01/2036 | | | 9,126 | | | | 0.0 | |
| 302,301 | | | | | 5.000%, 07/01/2036 | | | 326,566 | | | | 0.0 | |
| 432,405 | | | | | 5.000%, 07/01/2037 | | | 467,203 | | | | 0.0 | |
| 267,336 | | | | | 5.000%, 11/01/2040 | | | 289,179 | | | | 0.0 | |
| 101,552 | | | | | 5.000%, 05/01/2041 | | | 109,510 | | | | 0.0 | |
| 350,460 | | | | | 5.000%, 06/01/2041 | | | 379,225 | | | | 0.0 | |
| 546,372 | | | | | 5.000%, 06/01/2041 | | | 591,192 | | | | 0.0 | |
| 21,987,679 | | | | | 5.000%, 08/01/2056 | | | 23,934,797 | | | | 0.4 | |
| 216,001 | | | | | 5.500%, 03/01/2037 | | | 237,358 | | | | 0.0 | |
| 219,909 | | | | | 5.500%, 06/01/2039 | | | 242,105 | | | | 0.0 | |
| 2,034,663 | | | | | 5.500%, 10/01/2039 | | | 2,231,774 | | | | 0.0 | |
| 668 | | | | | 6.000%, 10/01/2018 | | | 669 | | | | 0.0 | |
| 77,359 | | | | | 6.000%, 09/01/2036 | | | 86,016 | | | | 0.0 | |
| 331,550 | | | | | 6.000%, 05/01/2038 | | | 348,102 | | | | 0.0 | |
| 664 | | | | | 6.500%, 02/01/2028 | | | 741 | | | | 0.0 | |
| 185 | | | | | 6.500%, 09/01/2031 | | | 206 | | | | 0.0 | |
| 631 | | | | | 6.500%, 09/01/2031 | | | 705 | | | | 0.0 | |
| 18,065 | | | | | 6.500%, 11/01/2031 | | | 20,233 | | | | 0.0 | |
| 8,272 | | | | | 6.500%, 04/01/2032 | | | 9,238 | | | | 0.0 | |
| 4,732 | | | | | 6.500%, 08/01/2032 | | | 5,285 | | | | 0.0 | |
| 1,466 | | | | | 6.500%, 08/01/2032 | | | 1,637 | | | | 0.0 | |
| 15,825 | | | | | 6.500%, 02/01/2033 | | | 17,665 | | | | 0.0 | |
| 11,838 | | | | | 7.000%, 12/01/2027 | | | 12,188 | | | | 0.0 | |
| 2,699 | | | | | 7.000%, 10/01/2031 | | | 2,828 | | | | 0.0 | |
| 3,253 | | | | | 7.000%, 03/01/2032 | | | 3,505 | | | | 0.0 | |
| 1,733 | | | | | 7.500%, 09/01/2030 | | | 2,033 | | | | 0.0 | |
| 1,057 | | | | | 7.500%, 10/01/2030 | | | 1,059 | | | | 0.0 | |
| 5,234 | | | | | 7.500%, 09/01/2031 | | | 6,066 | | | | 0.0 | |
| 17,155 | | | | | 7.500%, 02/01/2032 | | | 19,212 | | | | 0.0 | |
| | | | | | | | | 441,081,959 | | | | 8.0 | |
| | | | | | | | | | | | | | |
| | | | | | Government National Mortgage Association: 1.7% | |
| 213,000 | | | (8) | | 3.000%, 04/01/2044 | | | 209,568 | | | | 0.0 | |
| 5,803,082 | | | | | 3.500%, 07/20/2047 | | | 5,883,892 | | | | 0.1 | |
| 17,987,094 | | | | | 3.500%, 08/20/2047 | | | 18,217,270 | | | | 0.3 | |
| 12,938,689 | | | | | 3.500%, 08/20/2047 | | | 13,094,211 | | | | 0.3 | |
| 38,614,000 | | | (8) | | 3.500%, 04/01/2048 | | | 38,991,843 | | | | 0.7 | |
| 423,177 | | | | | 4.000%, 11/20/2040 | | | 442,610 | | | | 0.0 | |
| 2,617,430 | | | | | 4.000%, 03/20/2046 | | | 2,701,828 | | | | 0.1 | |
| 533,159 | | | | | 4.500%, 10/15/2039 | | | 564,959 | | | | 0.0 | |
| 339,236 | | | | | 4.500%, 11/15/2039 | | | 358,804 | | | | 0.0 | |
| 356,570 | | | | | 4.500%, 11/15/2039 | | | 377,878 | | | | 0.0 | |
| 120,626 | | | | | 4.500%, 12/15/2039 | | | 127,812 | | | | 0.0 | |
| 112,419 | | | | | 4.500%, 08/20/2041 | | | 118,336 | | | | 0.0 | |
| 7,490,288 | | | | | 4.500%, 09/15/2047 | | | 7,795,969 | | | | 0.2 | |
| 545,354 | | | | | 5.140%, 10/20/2060 | | | 558,335 | | | | 0.0 | |
| 733,118 | | | | | 5.310%, 10/20/2060 | | | 749,193 | | | | 0.0 | |
| 756,870 | | | | | 5.500%, 03/20/2060 | | | 774,104 | | | | 0.0 | |
| | | | | | | | | 90,966,612 | | | | 1.7 | |
| | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Obligations | | | | | | | | |
| | | | (Cost $816,062,230) | | | 810,080,848 | | | | 14.8 | |
FOREIGN GOVERNMENT BONDS: 5.0% |
ARS | 21,200,000 | | | | | Republic of Argentina, 21.200%, 09/19/2018 | | | 1,038,404 | | | | 0.0 | |
| 5,750,000 | | | | | Argentine Republic Government International Bond, 5.625%, 01/26/2022 | | | 5,847,750 | | | | 0.1 | |
| 9,160,000 | | | | | Argentine Republic Government International Bond, 6.875%, 04/22/2021 | | | 9,726,775 | | | | 0.2 | |
| 4,975,000 | | | | | Argentine Republic Government International Bond, 6.875%, 01/26/2027 | | | 5,079,475 | | | | 0.1 | |
CLP | 4,565,000,000 | | | | | Bonos de la Tesoreria de la Republica en pesos, 4.500%, 03/01/2026 | | | 7,629,121 | | | | 0.1 | |
CLP | 6,450,000,000 | | | | | Bonos de la Tesoreria de la Republica en pesos, 5.000%, 03/01/2035 | | | 10,758,010 | | | | 0.2 | |
BRL | 16,458,000 | | | | | Brazil Notas do Tesouro Nacional Serie F, 10.000%, 01/01/2027 | | | 5,271,774 | | | | 0.1 | |
BRL | 42,344,000 | | | | | Brazil Notas do Tesouro Nacional Serie F, 10.000%, 01/01/2029 | | | 13,452,398 | | | | 0.3 | |
BRL | 23,892,000 | | | | | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/2021 | | | 7,776,246 | | | | 0.1 | |
BRL | 26,035,000 | | | | | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/2023 | | | 8,426,367 | | | | 0.2 | |
BRL | 5,156,000 | | | | | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/2025 | | | 1,658,025 | | | | 0.0 | |
| 1,968,000 | | | | | Brazilian Government International Bond, 2.625%, 01/05/2023 | | | 1,871,568 | | | | 0.0 | |
| 2,500,000 | | | | | Brazilian Government International Bond, 6.000%, 04/07/2026 | | | 2,755,000 | | | | 0.1 | |
| 1,062,000 | | | | | Colombia Government International Bond, 2.625%, 03/15/2023 | | | 1,017,263 | | | | 0.0 | |
| 3,900,000 | | | | | Colombia Government International Bond, 3.875%, 04/25/2027 | | | 3,854,175 | | | | 0.1 | |
| 760,000 | | | | | Colombia Government International Bond, 8.125%, 05/21/2024 | | | 931,950 | | | | 0.0 | |
| 350,000 | | | (1) | | Costa Rica Government International Bond, 4.250%, 01/26/2023 | | | 337,575 | | | | 0.0 | |
| 400,000 | | | | | Costa Rica Government International Bond, 9.995%, 08/01/2020 | | | 448,300 | | | | 0.0 | |
| 2,500,000 | | | | | Croatia Government International Bond, 5.500%, 04/04/2023 | | | 2,686,145 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 272,000 | | | | | Croatia Government International Bond, 6.375%, 03/24/2021 | | | 294,400 | | | | 0.0 | |
| 300,000 | | | (1) | | Dominican Republic International Bond, 5.500%, 01/27/2025 | | | 309,438 | | | | 0.0 | |
| 270,000 | | | | | Dominican Republic International Bond, 5.875%, 04/18/2024 | | | 284,299 | | | | 0.0 | |
| 900,000 | | | | | Dominican Republic International Bond, 5.950%, 01/25/2027 | | | 942,750 | | | | 0.0 | |
| 300,000 | | | (1) | | Dominican Republic International Bond, 6.600%, 01/28/2024 | | | 326,748 | | | | 0.0 | |
| 2,150,000 | | | | | Dominican Republic International Bond, 6.875%, 01/29/2026 | | | 2,390,392 | | | | 0.1 | |
| 250,000 | | | (1),(2) | | Egypt Government International Bond, 5.875%, 06/11/2025 | | | 251,797 | | | | 0.0 | |
| 2,700,000 | | | | | Egypt Government International Bond, 6.125%, 01/31/2022 | | | 2,798,858 | | | | 0.1 | |
| 232,000 | | | (1) | | El Salvador Government International Bond, 5.875%, 01/30/2025 | | | 228,798 | | | | 0.0 | |
| 290,380 | | | (1) | | Gabonese Republic, 6.375%, 12/12/2024 | | | 289,022 | | | | 0.0 | |
| 2,506,000 | | | | | Hungary Government International Bond, 5.375%, 02/21/2023 | | | 2,709,487 | | | | 0.1 | |
| 416,000 | | | | | Hungary Government International Bond, 7.625%, 03/29/2041 | | | 601,670 | | | | 0.0 | |
| 1,775,000 | | | (1),(2) | | Indonesia Government International Bond, 3.850%, 07/18/2027 | | | 1,742,510 | | | | 0.0 | |
| 1,500,000 | | | | | Indonesia Government International Bond, 4.125%, 01/15/2025 | | | 1,514,766 | | | | 0.0 | |
| 600,000 | | | (1) | | Indonesia Government International Bond, 4.125%, 01/15/2025 | | | 605,906 | | | | 0.0 | |
| 2,750,000 | | | (1) | | Indonesia Government International Bond, 4.350%, 01/08/2027 | | | 2,796,794 | | | | 0.1 | |
IDR | 100,152,000,000 | | | | | Indonesia Treasury Bond, 7.000%, 05/15/2027 | | | 7,416,377 | | | | 0.1 | |
IDR | 48,000,000,000 | | | | | Indonesia Treasury Bond, 7.500%, 08/15/2032 | | | 3,577,992 | | | | 0.1 | |
IDR | 63,492,000,000 | | | | | Indonesia Treasury Bond, 7.500%, 05/15/2038 | | | 4,673,989 | | | | 0.1 | |
IDR | 28,498,000,000 | | | | | Indonesia Treasury Bond, 8.375%, 09/15/2026 | | | 2,289,879 | | | | 0.0 | |
| 4,000,000 | | | (1) | | Perusahaan Penerbit SBSN Indonesia III, 4.400%, 03/01/2028 | | | 4,034,000 | | | | 0.1 | |
| 2,618,595 | | | (3) | | Ivory Coast Government International Bond, 5.750%, 12/31/2032 | | | 2,524,635 | | | | 0.1 | |
| 600,000 | | | (1) | | KazAgro National Management Holding JSC, 4.625%, 05/24/2023 | | | 598,358 | | | | 0.0 | |
| 2,100,000 | | | | | Kazakhstan Government International Bond, 5.125%, 07/21/2025 | | | 2,279,031 | | | | 0.0 | |
| 1,000,000 | | | (1) | | Kazakhstan Government International Bond, 5.125%, 07/21/2025 | | | 1,085,253 | | | | 0.0 | |
| 1,150,000 | | | | | Lebanon Government International Bond, 6.100%, 10/04/2022 | | | 1,133,693 | | | | 0.0 | |
| 718,000 | | | | | Lebanon Government International Bond, 6.000%, 01/27/2023 | | | 699,888 | | | | 0.0 | |
MXN | 147,260,000 | | | | | Mexican Bonos, 6.500%, 06/10/2021 | | | 7,941,186 | | | | 0.2 | |
MXN | 95,790,000 | | | | | Mexican Bonos, 7.750%, 05/29/2031 | | | 5,396,750 | | | | 0.1 | |
| 400,000 | | | (2) | | Mexico Government International Bond, 4.000%, 10/02/2023 | | | 410,350 | | | | 0.0 | |
| 2,250,000 | | | | | Morocco Government International Bond, 4.250%, 12/11/2022 | | | 2,300,567 | | | | 0.0 | |
| 600,000 | | | (1) | | Morocco Government International Bond, 4.250%, 12/11/2022 | | | 613,484 | | | | 0.0 | |
| 850,000 | | | | | Namibia International Bonds, 5.500%, 11/03/2021 | | | 878,241 | | | | 0.0 | |
| 3,125,000 | | | | | Panama Government International Bond, 3.875%, 03/17/2028 | | | 3,156,250 | | | | 0.1 | |
| 693,000 | | | | | Panama Government International Bond, 6.700%, 01/26/2036 | | | 878,378 | | | | 0.0 | |
PEN | 11,093,000 | | | (1) | | Peru Government Bond, 6.150%, 08/12/2032 | | | 3,796,422 | | | | 0.1 | |
PEN | 26,244,000 | | | | | Peru Government Bond, 6.900%, 08/12/2037 | | | 9,391,472 | | | | 0.2 | |
| 1,900,000 | | | (2) | | Peruvian Government International Bond, 4.125%, 08/25/2027 | | | 1,991,200 | | | | 0.0 | |
| 356,250 | | | | | Republic of Angola Via Northern Lights III BV, 7.000%, 08/17/2019 | | | 364,079 | | | | 0.0 | |
| 600,000 | | | | | Republic of Paraguay, 4.625%, 01/25/2023 | | | 619,080 | | | | 0.0 | |
| 600,000 | | | (1) | | Republic of Paraguay, 4.625%, 01/25/2023 | | | 619,080 | | | | 0.0 | |
PLN | 41,657,000 | | | | | Republic of Poland Government Bond, 3.250%, 07/25/2025 | | | 12,468,198 | | | | 0.2 | |
PLN | 13,164,000 | | | | | Republic of Poland Government Bond, 4.000%, 10/25/2023 | | | 4,143,037 | | | | 0.1 | |
| 1,380,000 | | | | | Republic of Poland Government International Bond, 3.250%, 04/06/2026 | | | 1,370,851 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,500,000 | | | | | Republic of Poland Government International Bond, 4.000%, 01/22/2024 | | | 1,560,537 | | | | 0.0 | |
| 1,250,000 | | | | | South Africa Government International Bond, 4.300%, 10/12/2028 | | | 1,172,694 | | | | 0.0 | |
RON | 36,935,000 | | | | | Romania Government Bond, 3.250%, 04/29/2024 | | | 9,269,223 | | | | 0.2 | |
EUR | 1,000,000 | | | | | Romanian Government International Bond, 3.375%, 02/08/2038 | | | 1,233,505 | | | | 0.0 | |
| 1,602,000 | | | | | Romanian Government International Bond, 4.375%, 08/22/2023 | | | 1,648,314 | | | | 0.0 | |
| 136,000 | | | (1) | | Romanian Government International Bond, 4.375%, 08/22/2023 | | | 139,932 | | | | 0.0 | |
| 6,400,000 | | | | | Russian Federal Bond - OFZ, 4.750%, 05/27/2026 | | | 6,621,965 | | | | 0.1 | |
RUB | 276,740,000 | | | | | Russian Federal Bond - OFZ, 7.000%, 01/25/2023 | | | 4,955,137 | | | | 0.1 | |
RUB | 164,590,000 | | | | | Russian Federal Bond - OFZ, 7.000%, 08/16/2023 | | | 2,942,006 | | | | 0.1 | |
RUB | 424,870,000 | | | | | Russian Federal Bond - OFZ, 7.500%, 08/18/2021 | | | 7,664,458 | | | | 0.1 | |
RUB | 256,882,000 | | | | | Russian Federal Bond - OFZ, 7.600%, 07/20/2022 | | | 4,687,841 | | | | 0.1 | |
RUB | 593,095,000 | | | | | Russian Federal Bond - OFZ, 7.750%, 09/16/2026 | | | 10,963,677 | | | | 0.2 | |
RUB | 462,391,000 | | | | | Russian Federal Bond - OFZ, 8.500%, 09/17/2031 | | | 9,072,590 | | | | 0.2 | |
| 2,800,000 | | | | | Russian Foreign Bond - Eurobond, 4.250%, 06/23/2027 | | | 2,790,900 | | | | 0.1 | |
| 350,000 | | | | | Sri Lanka Government International Bond, 5.875%, 07/25/2022 | | | 355,663 | | | | 0.0 | |
| 1,100,000 | | | (1) | | Sri Lanka Government International Bond, 6.825%, 07/18/2026 | | | 1,133,594 | | | | 0.0 | |
| 253,337 | | | | | Tanzania Government International Bond, 8.241%, (US0003M + 6.000%), 03/09/2020 | | | 264,309 | | | | 0.0 | |
TRY | 17,898,000 | | | | | Turkey Government Bond, 9.200%, 09/22/2021 | | | 4,010,299 | | | | 0.1 | |
| 800,000 | | | | | Turkey Government International Bond, 4.875%, 10/09/2026 | | | 755,626 | | | | 0.0 | |
| 1,000,000 | | | | | Turkey Government International Bond, 5.125%, 02/17/2028 | | | 945,893 | | | | 0.0 | |
| 200,000 | | | | | Turkey Government International Bond, 6.250%, 09/26/2022 | | | 212,150 | | | | 0.0 | |
| 2,083,000 | | | | | Turkey Government International Bond, 7.375%, 02/05/2025 | | | 2,311,878 | | | | 0.0 | |
| 2,726,000 | | | | | Ukraine Government AID Bonds, 1.847%, 05/29/2020 | | | 2,706,648 | | | | 0.1 | |
| 2,300,000 | | | | | Uruguay Government International Bond, 4.375%, 10/27/2027 | | | 2,375,498 | | | | 0.0 | |
| 253,970 | | | | | Uruguay Government International Bond, 7.625%, 03/21/2036 | | | 346,847 | | | | 0.0 | |
| 341,643 | | | | | Uruguay Government International Bond, 8.000%, 11/18/2022 | | | 397,177 | | | | 0.0 | |
| 475,000 | | | | | Vietnam Government International Bond, 6.750%, 01/29/2020 | | | 502,658 | | | | 0.0 | |
| 300,000 | | | (1) | | Zambia Government International Bond, 5.375%, 09/20/2022 | | | 286,021 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | Total Foreign Government Bonds | | | | | | | | |
| | | | (Cost $272,690,762) | | | 276,632,716 | | | | 5.0 | |
Shares | | | | | | | Value | | | Percentage of Net Assets | |
PREFERRED STOCK: 0.0% |
| | | | | | Utilities: 0.0% | |
| 85,974 | | | (10),(11) | | SCE Trust VI | | | 1,946,452 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | Total Preferred Stock | | | | | | | | |
| | | | (Cost $2,149,350) | | | 1,946,452 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | | |
| | | | (Cost $5,829,899,582) | | | 5,804,641,213 | | | | 105.9 | |
Principal Amount† | | | | | | | Value | | | Percentage of Net Assets | |
SHORT-TERM INVESTMENTS: 13.1% |
| | | | | | Commercial Paper: 2.5% | |
| 16,800,000 | | | | | Campbell, 0.000%, 04/02/2018 | | | 16,796,160 | | | | 0.3 | |
| 6,500,000 | | | | | Exelon, 3.200%, 04/04/2018 | | | 6,497,754 | | | | 0.1 | |
| 65,000,000 | | | | | Kroger, 4.150%, 04/02/2018 | | | 64,985,527 | | | | 1.2 | |
| 23,000,000 | | | | | Pacific Gas+Elec, 4.260%, 04/02/2018 | | | 22,994,743 | | | | 0.4 | |
| 25,000,000 | | | | | UHG, 0.000%, 04/02/2018 | | | 24,994,458 | | | | 0.5 | |
| | | | | | | | | 136,268,642 | | | | 2.5 | |
| | | | | | | | | | | | | | |
| | | | | | Securities Lending Collateral(12): 2.7% | |
| 1,600,441 | | | | | Bank of Nova Scotia, Repurchase Agreement dated 03/29/18, 1.77%, due 04/02/18 (Repurchase Amount $1,600,751, collateralized by various U.S. Government Securities, 0.000%-4.500%, Market Value plus accrued interest $1,632,530, due 04/19/18-09/09/49) | | | 1,600,441 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 35,357,700 | | | | | Cantor Fitzgerald Securities, Repurchase Agreement dated 03/29/18, 1.80%, due 04/02/18 (Repurchase Amount $35,364,675, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-9.500%, Market Value plus accrued interest $36,064,855, due 03/31/18-02/20/68) | | | 35,357,700 | | | | 0.6 | |
| 35,357,700 | | | | | Daiwa Capital Markets, Repurchase Agreement dated 03/29/18, 1.81%, due 04/02/18 (Repurchase Amount $35,364,713, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $36,064,854, due 04/30/18-12/01/51) | | | 35,357,700 | | | | 0.7 | |
| 5,680,419 | | | | | Deutsche Bank AG, Repurchase Agreement dated 03/29/18, 1.82%, due 04/02/18 (Repurchase Amount $5,681,552, collateralized by various U.S. Government Agency Obligations, 3.500%-4.500%, Market Value plus accrued interest $5,794,027, due 07/25/42-01/20/48) | | | 5,680,419 | | | | 0.1 | |
| 35,357,700 | | | | | MUFG Securities America Inc., Repurchase Agreement dated 03/29/18, 1.81%, due 04/02/18 (Repurchase Amount $35,364,713, collateralized by various U.S. Government Agency Obligations, 1.915%-5.097%, Market Value plus accrued interest $36,064,854, due 08/01/19-03/01/48) | | | 35,357,700 | | | | 0.7 | |
| 35,357,700 | | | | | NBC Global Finance Ltd., Repurchase Agreement dated 03/29/18, 1.71%, due 04/02/18 (Repurchase Amount $35,364,326, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $36,064,862, due 06/30/19-09/09/49) | | | 35,357,700 | | | | 0.6 | |
| | | | | | | | | 148,711,660 | | | | 2.7 | |
| | | | | | | | | | | | | | |
| | | | | | Repurchase Agreement: 0.1% | | | | | | | | |
| 3,742,000 | | | | | Deutsche Bank Repurchase Agreement dated 3/29/2018, 1.8%, due 4/2/2018, $3,742,748 to be received upon repurchase (Collateralized by $3,825,600, Note, 1.875%, Market Value plus accrued interest $3,816,870 due 12/31/2019) | | | | | | | | |
| | | | | | (Cost $3,742,000) | | | 3,742,000 | | | | 0.1 | |
Shares | | | | | | | Value | | | Percentage of Net Assets | |
| | | | | | Mutual Funds: 7.8% | |
| 428,529,000 | | | (13) | | BlackRock Liquidity Funds, FedFund, Institutional Class, 1.550% | | | | | | | | |
| | | | | | (Cost $428,529,000) | | | 428,529,000 | | | | 7.8 | |
| | | | | | | | | | | | | | |
| | | | Total Short-Term Investments | | | | | | | | |
| | | | (Cost $717,273,650) | | | 717,251,302 | | | | 13.1 | |
| | | | | | | | | | | | | | |
| | | | Total Investments in Securities (Cost $6,547,173,233) | | $ | 6,521,892,515 | | | | 119.0 | |
| | | | Liabilities in Excess of Other Assets | | | (1,042,723,248 | ) | | | (19.0 | ) |
| | | | Net Assets | | $ | 5,479,169,267 | | | | 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) | Step Bond. Interest rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Rate shown is the rate in effect as of March 31, 2018. |
See Accompanying Notes to Financial Statements
Voya Intermediate Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
(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 March 31, 2018. |
(7) | For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs. |
(8) | Settlement is on a when-issued or delayed-delivery basis. |
(9) | 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. |
(10) | Preferred Stock may be called prior to convertible date. |
(11) | Non-income producing security. |
(12) | Represents securities purchased with cash collateral received for securities on loan. |
(13) | Rate shown is the 7-day yield as of March 31, 2018. |
ARS | Argentine Peso |
BRL | Brazilian Real |
CLP | Chilean Peso |
DKK | Danish Krone |
EUR | EU Euro |
IDR | Indonesian Rupiah |
MXN | Mexican Peso |
PEN | Peruvian Nuevo Sol |
PLN | Polish Zloty |
RON | Romanian New Leu |
RUB | Russian Ruble |
TRY | Turkish New Lira |
Reference Rate Abbreviations: |
12MTA | 12-month Treasury Average |
US0001M | 1-month LIBOR |
US0003M | 3-month LIBOR |
US0012M | 12-month LIBOR |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 |
Principal Amount† | | | | | | | Value | | | Percentage of Net Assets | |
CORPORATE BONDS/NOTES: 63.8% |
| | | | | | Basic Materials: 1.8% | |
| 250,000 | | | | | ArcelorMittal, 5.750%, 03/01/2021 | | | 264,062 | | | | 0.3 | |
| 300,000 | | | | | Huntsman International LLC, 4.875%, 11/15/2020 | | | 306,750 | | | | 0.3 | |
| 361,000 | | | | | PPG Industries, Inc., 2.300%, 11/15/2019 | | | 358,993 | | | | 0.3 | |
| 320,000 | | | | | Sherwin-Williams Co/The, 2.250%, 05/15/2020 | | | 314,811 | | | | 0.3 | |
| 300,000 | | | (1) | | Teck Resources Ltd., 4.750%, 01/15/2022 | | | 305,250 | | | | 0.3 | |
| 300,000 | | | (2) | | WR Grace & Co-Conn, 5.125%, 10/01/2021 | | | 307,875 | | | | 0.3 | |
| | | | | | | | | 1,857,741 | | | | 1.8 | |
| | | | | | | | | | | | | | |
| | | | | | Communications: 4.4% | |
| 230,000 | | | | | Alibaba Group Holding Ltd, 2.800%, 06/06/2023 | | | 222,479 | | | | 0.2 | |
| 280,000 | | | (2) | | Amazon.com, Inc., 1.900%, 08/21/2020 | | | 274,272 | | | | 0.2 | |
| 537,000 | | | | | AT&T, Inc., 2.300%, 03/11/2019 | | | 535,163 | | | | 0.5 | |
| 205,000 | | | | | AT&T, Inc., 2.450%, 06/30/2020 | | | 202,730 | | | | 0.2 | |
| 200,000 | | | (1) | | Cablevision Systems Corp., 5.875%, 09/15/2022 | | | 198,940 | | | | 0.2 | |
| 150,000 | | | | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.250%, 09/30/2022 | | | 152,533 | | | | 0.1 | |
| 195,000 | | | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.579%, 07/23/2020 | | | 195,628 | | | | 0.2 | |
| 236,000 | | | | | Cisco Systems, Inc., 2.450%, 06/15/2020 | | | 234,611 | | | | 0.2 | |
| 300,000 | | | | | DISH DBS Corp., 5.125%, 05/01/2020 | | | 300,780 | | | | 0.3 | |
| 180,000 | | | | | eBay, Inc., 2.150%, 06/05/2020 | | | 176,706 | | | | 0.2 | |
| 300,000 | | | (2) | | Gray Television, Inc., 5.125%, 10/15/2024 | | | 291,000 | | | | 0.3 | |
| 117,000 | | | | | NBCUniversal Media LLC, 5.150%, 04/30/2020 | | | 122,142 | | | | 0.1 | |
| 390,000 | | | | | Orange SA, 1.625%, 11/03/2019 | | | 382,038 | | | | 0.4 | |
| 246,000 | | | | | Scripps Networks Interactive, Inc., 2.750%, 11/15/2019 | | | 244,335 | | | | 0.2 | |
| 400,000 | | | (2) | | Sky PLC, 2.625%, 09/16/2019 | | | 398,422 | | | | 0.4 | |
| 300,000 | | | | | Sprint Communications, Inc., 6.000%, 11/15/2022 | | | 295,125 | | | | 0.3 | |
| 220,000 | | | | | Viacom, Inc., 4.250%, 09/01/2023 | | | 223,454 | | | | 0.2 | |
| 234,000 | | | | | Walt Disney Co/The, 1.950%, 03/04/2020 | | | 230,737 | | | | 0.2 | |
| | | | | | | | | 4,681,095 | | | | 4.4 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Cyclical: 4.8% | |
| 61,433 | | | | | American Airlines 2015-2 Class B Pass Through Trust, 4.400%, 03/22/2025 | | | 61,859 | | | | 0.1 | |
| 140,000 | | | | | AutoZone, Inc., 4.000%, 11/15/2020 | | | 143,337 | | | | 0.1 | |
| 214,000 | | | (2) | | BMW US Capital LLC, 1.450%, 09/13/2019 | | | 210,382 | | | | 0.2 | |
| 50,828 | | | | | Continental Airlines 2012-2 Class B Pass Through Trust, 5.500%, 04/29/2022 | | | 52,317 | | | | 0.0 | |
| 200,000 | | | (2) | | Daimler Finance North America LLC, 2.300%, 01/06/2020 | | | 197,566 | | | | 0.2 | |
| 300,000 | | | | | Fiat Chrysler Automobiles NV, 4.500%, 04/15/2020 | | | 303,402 | | | | 0.3 | |
| 250,000 | | | | | Ford Motor Credit Co. LLC, 1.897%, 08/12/2019 | | | 246,157 | | | | 0.2 | |
| 550,000 | | | | | Ford Motor Credit Co. LLC, 3.157%, 08/04/2020 | | | 547,332 | | | | 0.5 | |
| 280,000 | | | | | Ford Motor Credit Co. LLC, 5.750%, 02/01/2021 | | | 296,355 | | | | 0.3 | |
| 550,000 | | | | | General Motors Financial Co., Inc., 3.950%, 04/13/2024 | | | 545,832 | | | | 0.5 | |
| 200,000 | | | | | M/I Homes, Inc., 6.750%, 01/15/2021 | | | 206,750 | | | | 0.2 | |
| 250,000 | | | | | MGM Resorts International, 6.750%, 10/01/2020 | | | 266,250 | | | | 0.3 | |
| 52,000 | | | | | Newell Brands, Inc., 2.600%, 03/29/2019 | | | 51,774 | | | | 0.0 | |
| 190,000 | | | (2) | | Nissan Motor Acceptance Corp., 2.150%, 09/28/2020 | | | 186,110 | | | | 0.2 | |
| 140,000 | | | | | Nordstrom, Inc., 4.750%, 05/01/2020 | | | 144,749 | | | | 0.1 | |
| 274,000 | | | | | PACCAR Financial Corp., 1.750%, 08/14/2018 | | | 273,422 | | | | 0.3 | |
| 207,000 | | | | | Ralph Lauren Corp., 2.625%, 08/18/2020 | | | 206,319 | | | | 0.2 | |
| 200,000 | | | | | Springs Industries, Inc., 6.250%, 06/01/2021 | | | 203,250 | | | | 0.2 | |
| 364,000 | | | | | Toyota Motor Credit Corp., 1.550%, 10/18/2019 | | | 357,492 | | | | 0.3 | |
| 160,000 | | | | | Toyota Motor Credit Corp., 1.700%, 01/09/2019 | | | 158,914 | | | | 0.2 | |
| 33,959 | | | | | United Airlines 2013-1 Class B Pass Through Trust, 5.375%, 02/15/2023 | | | 35,020 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 198,850 | | | | | United Airlines 2014-2 Class B Pass Through Trust, 4.625%, 03/03/2024 | | | 201,743 | | | | 0.2 | |
| 185,415 | | | | | US Airways 2012-2 Class B Pass Through Trust, 6.750%, 12/03/2022 | | | 198,162 | | | | 0.2 | |
| 24,466 | | | | | US Airways 2013-1 Class B Pass Through Trust, 5.375%, 05/15/2023 | | | 25,292 | | | | 0.0 | |
| | | | | | | | | 5,119,786 | | | | 4.8 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Non-cyclical: 10.4% | |
| 169,000 | | | | | Abbott Laboratories, 2.800%, 09/15/2020 | | | 168,237 | | | | 0.2 | |
| 310,000 | | | | | Abbott Laboratories, 2.900%, 11/30/2021 | | | 307,299 | | | | 0.3 | |
| 361,000 | | | | | AbbVie, Inc., 1.800%, 05/14/2018 | | | 360,747 | | | | 0.3 | |
| 220,000 | | | | | AbbVie, Inc., 2.500%, 05/14/2020 | | | 217,238 | | | | 0.2 | |
| 242,000 | | | | | Altria Group, Inc., 4.750%, 05/05/2021 | | | 253,013 | | | | 0.2 | |
| 590,000 | | | | | Anheuser-Busch InBev Finance, Inc., 2.650%, 02/01/2021 | | | 585,676 | | | | 0.6 | |
| 135,000 | | | | | Anheuser-Busch InBev Worldwide, Inc., 3.500%, 01/12/2024 | | | 135,998 | | | | 0.1 | |
| 190,000 | | | | | Anthem, Inc., 2.500%, 11/21/2020 | | | 186,870 | | | | 0.2 | |
| 211,000 | | | | | AstraZeneca PLC, 1.750%, 11/16/2018 | | | 209,894 | | | | 0.2 | |
| 220,000 | | | | | AstraZeneca PLC, 1.950%, 09/18/2019 | | | 217,229 | | | | 0.2 | |
| 152,000 | | | | | AstraZeneca PLC, 2.375%, 11/16/2020 | | | 149,668 | | | | 0.1 | |
| 100,000 | | | (2) | | BAT Capital Corp., 2.297%, 08/14/2020 | | | 98,087 | | | | 0.1 | |
| 380,000 | | | (2) | | BAT International Finance PLC, 2.750%, 06/15/2020 | | | 376,906 | | | | 0.4 | |
| 296,000 | | | | | Baxalta, Inc., 2.000%, 06/22/2018 | | | 295,574 | | | | 0.3 | |
| 380,000 | | | | | Becton Dickinson and Co., 2.404%, 06/05/2020 | | | 372,918 | | | | 0.4 | |
| 140,000 | | | | | Campbell Soup Co., 3.650%, 03/15/2023 | | | 140,393 | | | | 0.1 | |
| 151,000 | | | | | Cardinal Health, Inc., 1.950%, 06/15/2018 | | | 150,833 | | | | 0.1 | |
| 170,000 | | | | | Cardinal Health, Inc., 2.616%, 06/15/2022 | | | 164,451 | | | | 0.2 | |
| 45,000 | | | | | Cardinal Health, Inc., 4.625%, 12/15/2020 | | | 46,573 | | | | 0.0 | |
| 300,000 | | | | | Centene Corp., 4.750%, 05/15/2022 | | | 305,250 | | | | 0.3 | |
| 170,000 | | | | | Constellation Brands, Inc., 2.250%, 11/06/2020 | | | 166,420 | | | | 0.2 | |
| 580,000 | | | | | CVS Health Corp., 3.350%, 03/09/2021 | | | 583,460 | | | | 0.6 | |
| 240,000 | | | (2) | | Danone SA, 1.691%, 10/30/2019 | | | 235,243 | | | | 0.2 | |
| 373,000 | | | | | Gilead Sciences, Inc., 1.950%, 03/01/2022 | | | 357,049 | | | | 0.3 | |
| 250,000 | | | | | HCA Healthcare, Inc., 6.250%, 02/15/2021 | | | 263,125 | | | | 0.2 | |
| 210,000 | | | (2) | | Imperial Brands Finance PLC, 2.950%, 07/21/2020 | | | 208,582 | | | | 0.2 | |
| 170,000 | | | | | Johnson & Johnson, 1.950%, 11/10/2020 | | | 167,268 | | | | 0.2 | |
| 570,000 | | | | | Kraft Heinz Foods Co., 2.000%, 07/02/2018 | | | 569,465 | | | | 0.5 | |
| 200,000 | | | | | Kraft Heinz Foods Co., 2.800%, 07/02/2020 | | | 198,696 | | | | 0.2 | |
| 234,000 | | | | | Kroger Co., 2.000%, 01/15/2019 | | | 232,379 | | | | 0.2 | |
| 432,000 | | | | | Medtronic Global Holdings SCA, 1.700%, 03/28/2019 | | | 428,095 | | | | 0.4 | |
| 448,000 | | | | | Medtronic, Inc., 2.500%, 03/15/2020 | | | 445,583 | | | | 0.4 | |
| 220,000 | | | | | Molson Coors Brewing Co., 1.450%, 07/15/2019 | | | 215,990 | | | | 0.2 | |
| 259,000 | | | | | Moody's Corp., 2.750%, 12/15/2021 | | | 254,463 | | | | 0.2 | |
| 267,000 | | | | | Mylan NV, 2.500%, 06/07/2019 | | | 264,983 | | | | 0.2 | |
| 79,000 | | | | | Mylan NV, 3.150%, 06/15/2021 | | | 78,005 | | | | 0.1 | |
| 90,000 | | | | | Novartis Capital Corp., 4.400%, 04/24/2020 | | | 93,043 | | | | 0.1 | |
| 117,000 | | | | | PepsiCo, Inc., 1.550%, 05/02/2019 | | | 115,894 | | | | 0.1 | |
| 230,000 | | | | | PepsiCo, Inc., 2.000%, 04/15/2021 | | | 224,344 | | | | 0.2 | |
| 300,000 | | | (2) | | Post Holdings, Inc., 5.500%, 03/01/2025 | | | 296,250 | | | | 0.3 | |
| 340,000 | | | | | Shire Acquisitions Investments Ireland DAC, 1.900%, 09/23/2019 | | | 334,480 | | | | 0.3 | |
| 123,000 | | | | | Shire Acquisitions Investments Ireland DAC, 2.400%, 09/23/2021 | | | 118,833 | | | | 0.1 | |
| 295,000 | | | | | Teva Pharmaceutical Finance Netherlands III BV, 1.700%, 07/19/2019 | | | 285,327 | | | | 0.3 | |
| 175,000 | | | | | UnitedHealth Group, Inc., 1.900%, 07/16/2018 | | | 174,744 | | | | 0.2 | |
| | | | | | | | | 11,054,575 | | | | 10.4 | |
| | | | | | | | | | | | | | |
| | | | | | Energy: 5.4% | |
| 300,000 | | | | | Antero Resources Corp., 5.125%, 12/01/2022 | | | 303,750 | | | | 0.3 | |
| 180,000 | | | | | BP Capital Markets PLC, 2.315%, 02/13/2020 | | | 178,067 | | | | 0.2 | |
| 349,000 | | | | | BP Capital Markets PLC, 2.521%, 01/15/2020 | | | 347,035 | | | | 0.3 | |
| 54,000 | | | | | BP Capital Markets PLC, 3.216%, 11/28/2023 | | | 53,550 | | | | 0.1 | |
| 130,000 | | | | | BP Capital Markets PLC, 4.742%, 03/11/2021 | | | 136,261 | | | | 0.1 | |
| 220,000 | | | | | Canadian Natural Resources Ltd., 2.950%, 01/15/2023 | | | 213,784 | | | | 0.2 | |
| 195,000 | | | | | Chevron Corp., 1.790%, 11/16/2018 | | | 194,200 | | | | 0.2 | |
| 338,000 | | | | | Chevron Corp., 2.419%, 11/17/2020 | | | 335,585 | | | | 0.3 | |
| 150,000 | | | | | Columbia Pipeline Group, Inc., 3.300%, 06/01/2020 | | | 149,746 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 250,000 | | | | | Continental Resources, Inc./OK, 5.000%, 09/15/2022 | | | 254,063 | | | | 0.2 | |
| 144,000 | | | | | Energy Transfer Partners L.P., 2.500%, 06/15/2018 | | | 144,033 | | | | 0.1 | |
| 361,000 | | | | | Enterprise Products Operating LLC, 1.650%, 05/07/2018 | | | 360,662 | | | | 0.3 | |
| 110,000 | | | | | Enterprise Products Operating LLC, 2.800%, 02/15/2021 | | | 108,856 | | | | 0.1 | |
| 80,000 | | | | | Enterprise Products Operating LLC, 2.850%, 04/15/2021 | | | 79,112 | | | | 0.1 | |
| 130,000 | | | | | Enterprise Products Operating LLC, 5.200%, 09/01/2020 | | | 136,125 | | | | 0.1 | |
| 406,000 | | | | | Exxon Mobil Corp., 1.708%, 03/01/2019 | | | 403,111 | | | | 0.4 | |
| 300,000 | | | | | Kinder Morgan Energy Partners L.P., 5.000%, 10/01/2021 | | | 313,162 | | | | 0.3 | |
| 250,000 | | | (2) | | NGPL PipeCo LLC, 4.375%, 08/15/2022 | | | 249,375 | | | | 0.2 | |
| 115,000 | | | | | Range Resources Corp., 5.875%, 07/01/2022 | | | 116,150 | | | | 0.1 | |
| 170,000 | | | (2) | | Schlumberger Finance Canada Ltd, 2.200%, 11/20/2020 | | | 167,749 | | | | 0.2 | |
| 84,000 | | | | | Shell International Finance BV, 1.375%, 09/12/2019 | | | 82,510 | | | | 0.1 | |
| 185,000 | | | | | Shell International Finance BV, 1.625%, 11/10/2018 | | | 184,093 | | | | 0.2 | |
| 416,000 | | | | | Shell International Finance BV, 1.750%, 09/12/2021 | | | 398,873 | | | | 0.4 | |
| 294,000 | | | | | Shell International Finance BV, 2.125%, 05/11/2020 | | | 289,605 | | | | 0.3 | |
| 337,000 | | | | | Total Capital International SA, 2.100%, 06/19/2019 | | | 334,783 | | | | 0.3 | |
| 170,000 | | | | | TransCanada PipeLines Ltd, 2.125%, 11/15/2019 | | | 168,169 | | | | 0.2 | |
| | | | | | | | | 5,702,409 | | | | 5.4 | |
| | | | | | | | | | | | | | |
| | | | | | Financial: 23.5% | |
| 210,000 | | | (2) | | ABN AMRO Bank NV, 2.450%, 06/04/2020 | | | 206,917 | | | | 0.2 | |
| 180,000 | | | | | American International Group, Inc., 3.300%, 03/01/2021 | | | 180,277 | | | | 0.2 | |
| 50,000 | | | | | American International Group, Inc., 6.400%, 12/15/2020 | | | 53,962 | | | | 0.1 | |
| 120,000 | | | | | American Express Co., 2.200%, 10/30/2020 | | | 117,081 | | | | 0.1 | |
| 195,000 | | | | | American Express Credit Corp., 1.875%, 05/03/2019 | | | 193,210 | | | | 0.2 | |
| 200,000 | | | (2) | | ANZ New Zealand Int'l Ltd./London, 2.200%, 07/17/2020 | | | 196,109 | | | | 0.2 | |
| 260,000 | | | | | Aon Corp., 5.000%, 09/30/2020 | | | 271,631 | | | | 0.3 | |
| 285,000 | | | (2) | | Athene Global Funding, 2.750%, 04/20/2020 | | | 282,667 | | | | 0.3 | |
| 230,000 | | | | | Australia & New Zealand Banking Group Ltd./New York NY, 2.250%, 06/13/2019 | | | 228,571 | | | | 0.2 | |
| 200,000 | | | | | Banco Santander SA, 3.500%, 04/11/2022 | | | 199,209 | | | | 0.2 | |
| 220,000 | | | | | Bank of America Corp., 1.950%, 05/12/2018 | | | 219,900 | | | | 0.2 | |
| 550,000 | | | | | Bank of America Corp., 2.151%, 11/09/2020 | | | 539,276 | | | | 0.5 | |
| 33,000 | | | | | Bank of America Corp., 2.600%, 01/15/2019 | | | 33,036 | | | | 0.0 | |
| 196,000 | | | (2) | | Bank of America Corp., 3.004%, 12/20/2023 | | | 192,309 | | | | 0.2 | |
| 220,000 | | | (1) | | Bank of Montreal, 1.800%, 07/31/2018 | | | 219,646 | | | | 0.2 | |
| 272,000 | | | | | Bank of Montreal, 2.100%, 12/12/2019 | | | 268,436 | | | | 0.3 | |
| 250,000 | | | | | Bank of New York Mellon Corp., 2.600%, 08/17/2020 | | | 248,258 | | | | 0.2 | |
| 80,000 | | | | | Bank of Nova Scotia/The, 2.450%, 03/22/2021 | | | 78,714 | | | | 0.1 | |
| 252,000 | | | | | Bank of Nova Scotia, 1.650%, 06/14/2019 | | | 248,766 | | | | 0.2 | |
| 200,000 | | | (2) | | Banque Federative du Credit Mutuel SA, 2.200%, 07/20/2020 | | | 195,813 | | | | 0.2 | |
| 210,000 | | | | | Barclays PLC, 2.750%, 11/08/2019 | | | 208,489 | | | | 0.2 | |
| 153,000 | | | | | Berkshire Hathaway Finance Corp., 1.700%, 03/15/2019 | | | 151,969 | | | | 0.1 | |
| 400,000 | | | (2) | | BPCE SA, 2.750%, 01/11/2023 | | | 386,249 | | | | 0.4 | |
| 260,000 | | | | | Canadian Imperial Bank of Commerce, 2.700%, 02/02/2021 | | | 257,373 | | | | 0.2 | |
| 250,000 | | | | | Capital One NA, 2.350%, 08/17/2018 | | | 249,741 | | | | 0.2 | |
| 250,000 | | | | | Citibank NA, 2.000%, 03/20/2019 | | | 248,451 | | | | 0.2 | |
| 433,000 | | | | | Citigroup, Inc., 2.050%, 12/07/2018 | | | 431,453 | | | | 0.4 | |
| 240,000 | | | | | Citizens Financial Group, Inc., 5.158%, 06/29/2023 | | | 241,627 | | | | 0.2 | |
| 266,000 | | | | | Comerica, Inc., 2.125%, 05/23/2019 | | | 263,838 | | | | 0.3 | |
| 207,000 | | | (2) | | Commonwealth Bank of Australia, 2.250%, 03/10/2020 | | | 204,112 | | | | 0.2 | |
| 410,000 | | | | | Cooperatieve Rabobank UA/NY, 2.250%, 01/14/2019 | | | 408,917 | | | | 0.4 | |
| 250,000 | | | (2) | | Credit Agricole SA/London, 2.375%, 07/01/2021 | | | 242,937 | | | | 0.2 | |
| 200,000 | | | | | Credit Suisse AG, 5.300%, 08/13/2019 | | | 206,211 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 360,000 | | | | | Credit Suisse Group Funding Guernsey Ltd., 3.125%, 12/10/2020 | | | 358,169 | | | | 0.3 | |
| 150,000 | | | | | Discover Bank, 2.600%, 11/13/2018 | | | 149,974 | | | | 0.1 | |
| 300,000 | | | (2) | | Federation des Caisses Desjardins du Quebec, 2.250%, 10/30/2020 | | | 294,179 | | | | 0.3 | |
| 220,000 | | | | | Fifth Third Bank/Cincinnati OH, 1.625%, 09/27/2019 | | | 216,249 | | | | 0.2 | |
| 223,000 | | | | | GE Capital International Funding Co. Unlimited Co., 2.342%, 11/15/2020 | | | 218,134 | | | | 0.2 | |
| 127,000 | | | | | Goldman Sachs Group, Inc./The, 2.300%, 12/13/2019 | | | 125,681 | | | | 0.1 | |
| 600,000 | | | | | Goldman Sachs Group, Inc./The, 2.600%, 12/27/2020 | | | 591,511 | | | | 0.6 | |
| 425,000 | | | | | Goldman Sachs Group, Inc., 2.550%, 10/23/2019 | | | 422,814 | | | | 0.4 | |
| 320,000 | | | | | Hartford Financial Services Group, Inc., 8.125%, 06/15/2068 | | | 324,000 | | | | 0.3 | |
| 270,000 | | | | | HSBC Holdings PLC, 3.400%, 03/08/2021 | | | 271,318 | | | | 0.3 | |
| 200,000 | | | | | HSBC USA, Inc., 5.000%, 09/27/2020 | | | 207,743 | | | | 0.2 | |
| 260,000 | | | (2) | | ING Bank NV, 1.650%, 08/15/2019 | | | 255,956 | | | | 0.2 | |
| 290,000 | | | | | ING Bank NV, 4.125%, 11/21/2023 | | | 291,831 | | | | 0.3 | |
| 310,000 | | | (2) | | Intesa Sanpaolo SpA, 3.125%, 07/14/2022 | | | 299,802 | | | | 0.3 | |
| 442,000 | | | | | JPMorgan Chase & Co., 1.625%, 05/15/2018 | | | 441,552 | | | | 0.4 | |
| 424,000 | | | | | JPMorgan Chase & Co., 2.550%, 03/01/2021 | | | 417,389 | | | | 0.4 | |
| 100,000 | | | | | JPMorgan Chase & Co., 3.200%, 01/25/2023 | | | 99,085 | | | | 0.1 | |
| 250,000 | | | | | JPMorgan Chase Bank NA, 2.604%, 02/01/2021 | | | 248,681 | | | | 0.2 | |
| 250,000 | | | | | KeyBank NA/Cleveland OH, 2.350%, 03/08/2019 | | | 249,175 | | | | 0.2 | |
| 342,000 | | | | | KeyCorp, 2.300%, 12/13/2018 | | | 341,150 | | | | 0.3 | |
| 200,000 | | | | | Lloyds Bank PLC, 2.700%, 08/17/2020 | | | 197,972 | | | | 0.2 | |
| 365,000 | | | | | Mitsubishi UFJ Financial Group, Inc., 2.190%, 09/13/2021 | | | 352,357 | | | | 0.3 | |
| 200,000 | | | (2) | | Mizuho Financial Group, Inc., 2.632%, 04/12/2021 | | | 196,086 | | | | 0.2 | |
| 30,000 | | | | | Morgan Stanley, 2.200%, 12/07/2018 | | | 29,938 | | | | 0.0 | |
| 59,000 | | | | | Morgan Stanley, 2.500%, 01/24/2019 | | | 58,907 | | | | 0.1 | |
| 270,000 | | | | | Morgan Stanley, 5.625%, 09/23/2019 | | | 280,349 | | | | 0.3 | |
| 250,000 | | | | | National Australia Bank Ltd./New York, 2.250%, 01/10/2020 | | | 247,740 | | | | 0.2 | |
| 300,000 | | | | | National Australia Bank Ltd./New York, 2.500%, 05/22/2022 | | | 291,265 | | | | 0.3 | |
| 300,000 | | | | | National Rural Utilities Cooperative Finance Corp., 2.350%, 06/15/2020 | | | 295,995 | | | | 0.3 | |
| 312,000 | | | | | National Rural Utilities Cooperative Finance Corp., 1.500%, 11/01/2019 | | | 305,853 | | | | 0.3 | |
| 200,000 | | | (2) | | Nationwide Building Society, 2.350%, 01/21/2020 | | | 197,445 | | | | 0.2 | |
| 280,000 | | | (2) | | Nordea Bank AB, 4.875%, 01/27/2020 | | | 289,318 | | | | 0.3 | |
| 140,000 | | | (2) | | Nuveen Finance LLC, 2.950%, 11/01/2019 | | | 139,695 | | | | 0.1 | |
| 310,000 | | | | | PNC Bank NA, 1.450%, 07/29/2019 | | | 304,577 | | | | 0.3 | |
| 680,000 | | | | | PNC Bank NA, 2.400%, 10/18/2019 | | | 675,854 | | | | 0.6 | |
| 190,000 | | | (2) | | Protective Life Global Funding, 2.161%, 09/25/2020 | | | 185,263 | | | | 0.2 | |
| 175,000 | | | (1),(2) | | Realogy Group LLC / Realogy Co-Issuer Corp., 5.250%, 12/01/2021 | | | 176,146 | | | | 0.2 | |
| 320,000 | | | | | Regions Bank/Birmingham AL, 2.250%, 09/14/2018 | | | 319,457 | | | | 0.3 | |
| 295,000 | | | | | Royal Bank of Canada, 1.800%, 07/30/2018 | | | 294,405 | | | | 0.3 | |
| 346,000 | | | | | Royal Bank of Canada, 2.125%, 03/02/2020 | | | 341,074 | | | | 0.3 | |
| 465,000 | | | | | Royal Bank of Scotland Group PLC, 6.400%, 10/21/2019 | | | 488,192 | | | | 0.5 | |
| 254,000 | | | | | Santander Holdings USA, Inc., 2.700%, 05/24/2019 | | | 253,430 | | | | 0.2 | |
| 200,000 | | | | | Santander UK PLC, 2.500%, 01/05/2021 | | | 196,791 | | | | 0.2 | |
| 363,000 | | | (2) | | Scentre Group Trust 1 / Scentre Group Trust 2, 2.375%, 11/05/2019 | | | 359,392 | | | | 0.3 | |
| 250,000 | | | | | Skandinaviska Enskilda Banken AB, 2.300%, 03/11/2020 | | | 246,538 | | | | 0.2 | |
| 265,000 | | | (2) | | Standard Chartered PLC, 2.100%, 08/19/2019 | | | 261,245 | | | | 0.2 | |
| 560,000 | | | (2) | | Standard Chartered PLC, 2.250%, 04/17/2020 | | | 549,374 | | | | 0.5 | |
| 280,000 | | | | | Sumitomo Mitsui Banking Corp., 1.966%, 01/11/2019 | | | 278,293 | | | | 0.3 | |
| 270,000 | | | | | Sumitomo Mitsui Banking Corp., 2.514%, 01/17/2020 | | | 267,412 | | | | 0.3 | |
| 186,000 | | | | | Sumitomo Mitsui Financial Group, Inc., 2.934%, 03/09/2021 | | | 184,573 | | | | 0.2 | |
| 237,000 | | | | | SunTrust Bank/Atlanta GA, 2.250%, 01/31/2020 | | | 233,890 | | | | 0.2 | |
| 188,000 | | | | | SunTrust Banks, Inc., 2.500%, 05/01/2019 | | | 187,470 | | | | 0.2 | |
| 710,000 | | | | | Toronto-Dominion Bank, 2.250%, 11/05/2019 | | | 704,253 | | | | 0.7 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 200,000 | | | (2) | | UBS AG/London, 2.200%, 06/08/2020 | | | 196,230 | | | | 0.2 | |
| 250,000 | | | | | UBS AG/Stamford CT, 2.350%, 03/26/2020 | | | 246,537 | | | | 0.2 | |
| 200,000 | | | (2) | | UBS Group Funding Switzerland AG, 2.650%, 02/01/2022 | | | 194,035 | | | | 0.2 | |
| 250,000 | | | | | US Bank NA/Cincinnati OH, 2.350%, 01/23/2020 | | | 248,013 | | | | 0.2 | |
| 160,000 | | | | | Wells Fargo & Co., 2.550%, 12/07/2020 | | | 157,284 | | | | 0.1 | |
| 460,000 | | | | | Wells Fargo Bank NA, 2.150%, 12/06/2019 | | | 455,112 | | | | 0.4 | |
| 252,000 | | | | | Westpac Banking Corp., 1.600%, 08/19/2019 | | | 248,034 | | | | 0.2 | |
| 290,000 | | | | | Westpac Banking Corp., 2.300%, 05/26/2020 | | | 285,874 | | | | 0.3 | |
| | | | | | | | | 24,921,216 | | | | 23.5 | |
| | | | | | | | | | | | | | |
| | | | | | Industrial: 3.8% | |
| 324,000 | | | | | Amphenol Corp., 2.200%, 04/01/2020 | | | 319,495 | | | | 0.3 | |
| 300,000 | | | (2) | | Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc., 4.625%, 05/15/2023 | | | 302,250 | | | | 0.3 | |
| 460,000 | | | | | Caterpillar Financial Services Corp., 2.250%, 12/01/2019 | | | 456,414 | | | | 0.4 | |
| 285,000 | | | | | Corning, Inc., 1.500%, 05/08/2018 | | | 284,700 | | | | 0.3 | |
| 96,000 | | | | | General Electric Co., 2.200%, 01/09/2020 | | | 94,772 | | | | 0.1 | |
| 400,000 | | | | | Ingersoll-Rand Global Holding Co. Ltd., 2.900%, 02/21/2021 | | | 399,196 | | | | 0.4 | |
| 296,000 | | | | | Lockheed Martin Corp., 1.850%, 11/23/2018 | | | 294,811 | | | | 0.3 | |
| 310,000 | | | | | Northrop Grumman Corp., 2.080%, 10/15/2020 | | | 303,492 | | | | 0.3 | |
| 200,000 | | | | | Oshkosh Corp., 5.375%, 03/01/2022 | | | 205,000 | | | | 0.2 | |
| 300,000 | | | (2) | | Owens-Brockway Glass Container, Inc., 5.000%, 01/15/2022 | | | 304,035 | | | | 0.3 | |
| 207,000 | | | | | Rockwell Collins, Inc., 1.950%, 07/15/2019 | | | 204,798 | | | | 0.2 | |
| 200,000 | | | (2) | | Rolls-Royce PLC, 2.375%, 10/14/2020 | | | 196,974 | | | | 0.2 | |
| 280,000 | | | | | Roper Technologies, Inc., 3.000%, 12/15/2020 | | | 279,163 | | | | 0.2 | |
| 340,000 | | | | | United Parcel Service, Inc., 2.050%, 04/01/2021 | | | 332,614 | | | | 0.3 | |
| | | | | | | | | 3,977,714 | | | | 3.8 | |
| | | | | | | | | | | | | | |
| | | | | | Technology: 5.6% | |
| 190,000 | | | | | Activision Blizzard, Inc., 2.600%, 06/15/2022 | | | 184,407 | | | | 0.2 | |
| 260,000 | | | | | Analog Devices, Inc., 2.950%, 01/12/2021 | | | 259,270 | | | | 0.2 | |
| 320,000 | | | | | Apple, Inc., 1.800%, 05/11/2020 | | | 314,907 | | | | 0.3 | |
| 300,000 | | | | | Apple, Inc., 1.900%, 02/07/2020 | | | 296,605 | | | | 0.3 | |
| 310,000 | | | | | Apple, Inc., 2.000%, 11/13/2020 | | | 304,672 | | | | 0.3 | |
| 92,000 | | | | | Applied Materials, Inc., 2.625%, 10/01/2020 | | | 91,475 | | | | 0.1 | |
| 240,000 | | | | | Broadcom Corp. / Broadcom Cayman Finance Ltd., 2.375%, 01/15/2020 | | | 236,729 | | | | 0.2 | |
| 740,000 | | | (2) | | Dell International LLC / EMC Corp., 4.420%, 06/15/2021 | | | 759,481 | | | | 0.7 | |
| 300,000 | | | (2) | | First Data Corp., 5.375%, 08/15/2023 | | | 306,000 | | | | 0.3 | |
| 100,000 | | | | | Hewlett Packard Enterprise Co., 3.600%, 10/15/2020 | | | 100,970 | | | | 0.1 | |
| 180,000 | | | | | IBM Credit LLC, 2.650%, 02/05/2021 | | | 179,099 | | | | 0.2 | |
| 170,000 | | | | | Intel Corp., 1.850%, 05/11/2020 | | | 167,365 | | | | 0.1 | |
| 637,000 | | | | | Intel Corp., 2.450%, 07/29/2020 | | | 633,503 | | | | 0.6 | |
| 300,000 | | | | | KLA-Tencor Corp., 3.375%, 11/01/2019 | | | 302,333 | | | | 0.3 | |
| 180,000 | | | | | NetApp, Inc., 2.000%, 09/27/2019 | | | 177,261 | | | | 0.2 | |
| 260,000 | | | | | NVIDIA Corp., 2.200%, 09/16/2021 | | | 253,676 | | | | 0.2 | |
| 164,000 | | | | | Oracle Corp., 2.400%, 09/15/2023 | | | 157,141 | | | | 0.1 | |
| 180,000 | | | | | Oracle Corp., 2.625%, 02/15/2023 | | | 176,003 | | | | 0.2 | |
| 280,000 | | | | | Qualcomm, Inc., 1.850%, 05/20/2019 | | | 278,094 | | | | 0.3 | |
| 350,000 | | | | | Qualcomm, Inc., 2.100%, 05/20/2020 | | | 346,073 | | | | 0.3 | |
| 300,000 | | | (2) | | Quintiles IMS, Inc., 4.875%, 05/15/2023 | | | 307,125 | | | | 0.3 | |
| 117,000 | | | | | Texas Instruments, Inc., 2.750%, 03/12/2021 | | | 116,896 | | | | 0.1 | |
| | | | | | | | | 5,949,085 | | | | 5.6 | |
| | | | | | | | | | | | | | |
| | | | | | Utilities: 4.1% | | | | | | | | |
| 130,000 | | | | | Ameren Illinois Co., 2.700%, 09/01/2022 | | | 127,353 | | | | 0.1 | |
| 171,000 | | | (2) | | Berkshire Hathaway Energy Co., 2.375%, 01/15/2021 | | | 168,209 | | | | 0.1 | |
| 449,000 | | | | | Black Hills Corp., 2.500%, 01/11/2019 | | | 448,745 | | | | 0.4 | |
| 99,000 | | | | | Dominion Energy, Inc., 1.600%, 08/15/2019 | | | 97,321 | | | | 0.1 | |
| 280,000 | | | | | Dominion Energy, Inc., 2.579%, 07/01/2020 | | | 276,577 | | | | 0.3 | |
| 525,000 | | | | | Duke Energy Corp., 1.800%, 09/01/2021 | | | 500,028 | | | | 0.5 | |
| 143,000 | | | | | Edison International, 2.125%, 04/15/2020 | | | 140,424 | | | | 0.1 | |
| 169,000 | | | | | Eversource Energy, 2.500%, 03/15/2021 | | | 166,510 | | | | 0.1 | |
| 293,000 | | | | | Exelon Generation Co. LLC, 2.950%, 01/15/2020 | | | 292,279 | | | | 0.3 | |
| 190,000 | | | | | Georgia Power Co., 2.000%, 03/30/2020 | | | 186,996 | | | | 0.2 | |
| 180,000 | | | | | Georgia Power Co., 2.000%, 09/08/2020 | | | 175,944 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 109,000 | | | | | NextEra Energy Capital Holdings, Inc., 1.649%, 09/01/2018 | | | 108,502 | | | | 0.1 | |
| 239,000 | | | | | NextEra Energy Capital Holdings, Inc., 2.300%, 04/01/2019 | | | 237,780 | | | | 0.2 | |
| 250,000 | | | | | Oklahoma Gas & Electric Co., 8.250%, 01/15/2019 | | | 260,616 | | | | 0.2 | |
| 324,000 | | | | | Public Service Enterprise Group, Inc., 1.600%, 11/15/2019 | | | 316,652 | | | | 0.3 | |
| 296,000 | | | | | Sempra Energy, 1.625%, 10/07/2019 | | | 290,351 | | | | 0.3 | |
| 170,000 | | | | | Sempra Energy, 2.400%, 02/01/2020 | | | 168,242 | | | | 0.2 | |
| 130,000 | | | | | Southern Co. Gas Capital Corp., 2.450%, 10/01/2023 | | | 123,537 | | | | 0.1 | |
| 285,000 | | | | | Southern Power Co., 1.500%, 06/01/2018 | | | 284,599 | | | | 0.3 | |
| | | | | | | | | 4,370,665 | | | | 4.1 | |
| | | | | | | | | | | | | | |
| | | | Total Corporate Bonds/Notes | | | | | | | | |
| | | | (Cost $68,472,693) | | | 67,634,286 | | | | 63.8 | |
| | | | | | | | | | | | | | |
COLLATERALIZED MORTGAGE OBLIGATIONS: 3.7% |
| 276,632 | | | | | Fannie Mae Interest Strip Series 404 8, 3.000%, 05/25/2040 | | | 268,437 | | | | 0.3 | |
| 306,012 | | | | | Fannie Mae REMIC Trust 2009-49 KB, 5.000%, 07/25/2024 | | | 309,305 | | | | 0.3 | |
| 150,215 | | | | | Fannie Mae REMIC Trust 2010-137 XP, 4.500%, 10/25/2040 | | | 157,180 | | | | 0.1 | |
| 67,264 | | | | | Fannie Mae REMIC Trust 2010-19 PB, 3.000%, 12/25/2039 | | | 66,469 | | | | 0.1 | |
| 256,797 | | | | | Fannie Mae REMIC Trust 2010-54 LC, 3.000%, 04/25/2040 | | | 254,645 | | | | 0.2 | |
| 555,335 | | | | | Freddie Mac REMIC Trust 2103 TE, 6.000%, 12/15/2028 | | | 625,238 | | | | 0.6 | |
| 431,512 | | | | | Freddie Mac REMIC Trust 3597 L, 5.000%, 07/15/2039 | | | 452,274 | | | | 0.4 | |
| 301,921 | | | | | Ginnie Mae Series 2012-52 PV, 2.500%, 12/20/2039 | | | 299,370 | | | | 0.3 | |
| 675,978 | | | | | Ginnie Mae Series 2014-53 JM, 7.134%, 04/20/2039 | | | 757,319 | | | | 0.7 | |
| 544,878 | | | | | Ginnie Mae Series 2015-H31 FT, 2.225%, (US0001M + 0.650%), 11/20/2065 | | | 546,860 | | | | 0.5 | |
| 210,423 | | | | | Wells Fargo Mortgage Backed Securities 2005-AR16 2A1, 3.807%, 02/25/2034 | | | 216,417 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | Total Collateralized Mortgage Obligations | | | | | | | | |
| | | | (Cost $3,992,071) | | | 3,953,514 | | | | 3.7 | |
U.S. GOVERNMENT AGENCY OBLIGATIONS: 1.1% |
| | | | | | Federal Home Loan Mortgage Corporation: 0.7%(3) | |
| 49,434 | | | | | 5.500%, 01/01/2037 | | | 53,646 | | | | 0.1 | |
| 62,860 | | | | | 5.500%, 08/01/2038 | | | 68,192 | | | | 0.1 | |
| 11,542 | | | | | 5.500%, 10/01/2038 | | | 12,521 | | | | 0.0 | |
| 21,619 | | | | | 5.500%, 10/01/2038 | | | 23,537 | | | | 0.0 | |
| 331,364 | | | | | 5.500%, 11/01/2038 | | | 365,489 | | | | 0.3 | |
| 191,520 | | | | | 5.500%, 02/01/2039 | | | 207,764 | | | | 0.2 | |
| | | | | | | | | 731,149 | | | | 0.7 | |
| | | | | | | | | | | | | | |
| | | | | | Federal National Mortgage Association: 0.4%(3) | |
| 252,232 | | | | | 5.000%, 01/01/2023 | | | 263,252 | | | | 0.2 | |
| 190,295 | | | | | 5.000%, 07/01/2034 | | | 205,595 | | | | 0.2 | |
| | | | | | | | | 468,847 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Obligations | | | | | | | | |
| | | | (Cost $1,191,796) | | | 1,199,996 | | | | 1.1 | |
| | | | | | | | | | | | | | |
FOREIGN GOVERNMENT BONDS: 0.1% |
| 58,000 | | | (1) | | European Investment Bank, 1.750%, 05/15/2020 | | | 57,127 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | Total Foreign Government Bonds | | | | | | | | |
| | | | (Cost $57,829) | | | 57,127 | | | | 0.1 | |
| | | | | | | | | | | | | | |
ASSET-BACKED SECURITIES: 16.8% |
| | | | | | Automobile Asset-Backed Securities: 7.0% | |
| 150,000 | | | | | Ally Auto Receivables Trust 2017-2 A4, 2.100%, 03/15/2022 | | | 147,878 | | | | 0.1 | |
| 350,000 | | | | | Ally Auto Receivables Trust 2017-3 A4, 2.010%, 03/15/2022 | | | 343,685 | | | | 0.3 | |
| 250,000 | | | | | CarMax Auto Owner Trust 2017-1 A4, 2.270%, 09/15/2022 | | | 246,918 | | | | 0.2 | |
| 450,000 | | | | | CarMax Auto Owner Trust 2017-3 A4, 2.220%, 11/15/2022 | | | 441,849 | | | | 0.4 | |
| 450,000 | | | | | CarMax Auto Owner Trust 2018-1 A4, 2.640%, 06/15/2023 | | | 447,468 | | | | 0.4 | |
| 600,000 | | | (2) | | Chrysler Capital Auto Receivables Trust 2016-BA A4, 1.870%, 02/15/2022 | | | 591,618 | | | | 0.6 | |
| 100,000 | | | | | GM Financial Automobile Leasing Trust 2017-1 A4, 2.260%, 08/20/2020 | | | 99,396 | | | | 0.1 | |
| 150,000 | | | | | GM Financial Automobile Leasing Trust 2018-1 A3, 2.610%, 01/20/2021 | | | 149,574 | | | | 0.2 | |
| 350,000 | | | | | GM Financial Automobile Leasing Trust 2018-1 A4, 2.680%, 12/20/2021 | | | 348,548 | | | | 0.3 | |
| 500,000 | | | | | GM Financial Automobile Leasing Trust 2018-1 B, 2.870%, 12/20/2021 | | | 498,319 | | | | 0.5 | |
| 480,000 | | | | | Harley-Davidson Motorcycle Trust 2015-1 A4, 1.670%, 08/15/2022 | | | 476,480 | | | | 0.5 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 150,000 | | | (2) | | Hyundai Auto Lease Securitization Trust 2016-C A4, 1.650%, 07/15/2020 | | | 148,807 | | | | 0.1 | |
| 450,000 | | | (2) | | Hyundai Auto Lease Securitization Trust 2017-A A4, 2.130%, 04/15/2021 | | | 446,427 | | | | 0.4 | |
| 100,000 | | | | | Hyundai Auto Receivables Trust 2017-A A4, 2.090%, 04/17/2023 | | | 98,056 | | | | 0.1 | |
| 200,000 | | | | | Hyundai Auto Receivables Trust 2017-B A4, 1.960%, 02/15/2023 | | | 195,347 | | | | 0.2 | |
| 100,000 | | | | | Nissan Auto Lease Trust 2016-B A4, 1.610%, 01/18/2022 | | | 99,243 | | | | 0.1 | |
| 540,000 | | | | | Nissan Auto Receivables 2016-B A4, 1.540%, 10/17/2022 | | | 528,011 | | | | 0.5 | |
| 200,000 | | | | | Nissan Auto Receivables 2017-B A4, 1.950%, 10/16/2023 | | | 195,486 | | | | 0.2 | |
| 200,000 | | | (2) | | Oscar US Funding Trust VI LLC 2017-1A A3, 2.820%, 06/10/2021 | | | 198,793 | | | | 0.2 | |
| 500,000 | | | (2) | | Oscar US Funding Trust VII LLC 2017-2A A3, 2.450%, 12/10/2021 | | | 492,799 | | | | 0.5 | |
| 200,000 | | | (2) | | Santander Retail Auto Lease Trust 2017-A A3, 2.220%, 01/20/2021 | | | 198,003 | | | | 0.2 | |
| 150,000 | | | (2) | | Santander Retail Auto Lease Trust 2017-A A4, 2.370%, 01/20/2022 | | | 148,336 | | | | 0.1 | |
| 450,000 | | | | | Toyota Auto Receivables 2017-B Owner Trust A4, 2.050%, 09/15/2022 | | | 441,821 | | | | 0.4 | |
| 250,000 | | | | | Toyota Auto Receivables 2017-C A4 Owner Trust, 1.980%, 12/15/2022 | | | 244,934 | | | | 0.2 | |
| 110,000 | | | | | World Omni Auto Receivables Trust 2015-B A4, 1.840%, 01/17/2022 | | | 108,887 | | | | 0.1 | |
| 100,000 | | | | | World Omni Automobile Lease Securitization Trust 2017-A A4, 2.320%, 08/15/2022 | | | 99,268 | | | | 0.1 | |
| | | | | | | | | 7,435,951 | | | | 7.0 | |
| | | | | | | | | | | | | | |
| | | | | | Credit Card Asset-Backed Securities: 3.3% | |
| 450,000 | | | | | American Express Credit Account Master Trust 2017-1 B, 2.100%, 09/15/2022 | | | 444,489 | | | | 0.4 | |
| 350,000 | | | | | Barclays Dryrock Issuance Trust 2016-1 A, 1.520%, 05/16/2022 | | | 345,180 | | | | 0.3 | |
| 600,000 | | | | | Capital One Multi-Asset Execution Trust 2016-A6 A6, 1.820%, 09/15/2022 | | | 592,127 | | | | 0.6 | |
| 200,000 | | | | | Chase Issuance Trust 2016-A5 A5, 1.270%, 07/15/2021 | | | 196,776 | | | | 0.2 | |
| 210,000 | | | | | Citibank Credit Card Issuance Trust 2014-A6 A6, 2.150%, 07/15/2021 | | | 208,881 | | | | 0.2 | |
| 250,000 | | | | | Citibank Credit Card Issuance Trust 2017-A9 A9, 1.800%, 09/20/2021 | | | 247,057 | | | | 0.2 | |
| 450,000 | | | | | Discover Card Execution Note Trust 2017-A2 A2, 2.390%, 07/15/2024 | | | 441,925 | | | | 0.4 | |
| 400,000 | | | | | Discover Card Execution Note Trust 2017-A6 A6, 1.880%, 02/15/2023 | | | 392,963 | | | | 0.4 | |
| 600,000 | | | (2) | | Evergreen Credit Card Trust Series 2018-1 A, 2.950%, 03/15/2023 | | | 599,936 | | | | 0.6 | |
| | | | | | | | | 3,469,334 | | | | 3.3 | |
| | | | | | | | | | | | | | |
| | | | | | Home Equity Asset-Backed Securities: 0.0% | |
| 15,451 | | | | | Chase Funding Loan Acquisition Trust Series 2003-C2 1A, 4.750%, 12/25/2019 | | | 15,492 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | | | Other Asset-Backed Securities: 6.3% | |
| 400,000 | | | (2) | | Ares XLVI CLO Ltd. 2017-46A A2, 2.939%, (US0003M + 1.230%), 01/15/2030 | | | 402,325 | | | | 0.4 | |
| 330,000 | | | (2) | | Babson CLO Ltd. 2014-3A AR, 3.042%, (US0003M + 1.320%), 01/15/2026 | | | 330,088 | | | | 0.3 | |
| 250,000 | | | (2) | | Barings CLO Ltd. 2017-1A A2, 3.084%, (US0003M + 1.350%), 07/18/2029 | | | 251,545 | | | | 0.2 | |
| 250,000 | | | (2) | | Benefit Street Partners CLO VIII Ltd. 2015-8A A1BR, 2.919%, (US0003M + 1.200%), 01/20/2031 | | | 250,148 | | | | 0.2 | |
| 560,000 | | | (2) | | Benefit Street Partners CLO X Ltd. 2016-10A A1, 3.212%, (US0003M + 1.490%), 01/15/2029 | | | 562,990 | | | | 0.5 | |
| 410,000 | | | (2) | | Carlyle Global Market Strategies CLO Ltd. 2017-1A A1A, 3.045%, (US0003M + 1.300%), 04/20/2031 | | | 411,949 | | | | 0.4 | |
| 250,000 | | | (2) | | Cedar Funding VIII Clo Ltd. 2017-8A A1, 2.981%, (US0003M + 1.250%), 10/17/2030 | | | 251,489 | | | | 0.2 | |
| 250,000 | | | (2) | | CIFC Funding 2013-2A A1LR, 2.944%, (US0003M + 1.210%), 10/18/2030 | | | 251,878 | | | | 0.3 | |
| 250,000 | | | (2) | | CIFC Funding 2016-1A A, 3.225%, (US0003M + 1.480%), 10/21/2028 | | | 251,345 | | | | 0.2 | |
| 150,000 | | | | | CNH Equipment Trust 2017-B A4, 2.170%, 04/17/2023 | | | 146,970 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 250,000 | | | (2) | | Deer Creek Clo Ltd. 2017-1A A, 3.177%, (US0003M + 1.180%), 10/20/2030 | | | 251,151 | | | | 0.2 | |
| 250,000 | | | (2) | | Dryden Senior Loan Fund 2017-47A A2, 3.072%, (US0003M + 1.350%), 04/15/2028 | | | 251,376 | | | | 0.2 | |
| 360,000 | | | (2) | | Dryden XXVIII Senior Loan Fund 2013-28A A1LR, 3.039%, (US0003M + 1.200%), 08/15/2030 | | | 361,863 | | | | 0.4 | |
| 250,000 | | | (2) | | Eaton Vance Clo 2015-1A A2R Ltd., 2.727%, (US0003M + 1.250%), 01/20/2030 | | | 249,952 | | | | 0.2 | |
| 250,000 | | | (2) | | Galaxy XIX CLO Ltd. 2015-19A A1R, 2.961%, (US0003M + 1.220%), 07/24/2030 | | | 251,566 | | | | 0.2 | |
| 16,916 | | | (2) | | GSAMP Trust 2005-SEA2 A1, 2.222%, (US0001M + 0.350%), 01/25/2045 | | | 16,945 | | | | 0.0 | |
| 330,000 | | | (2) | | LCM XXIII Ltd. 23A A1, 3.145%, (US0003M + 1.400%), 10/20/2029 | | | 333,793 | | | | 0.3 | |
| 250,000 | | | (2) | | Octagon Investment Partners 30 Ltd. 2017-1A A1, 3.065%, (US0003M + 1.320%), 03/17/2030 | | | 254,335 | | | | 0.3 | |
| 250,000 | | | (2) | | Octagon Investment Partners XIV Ltd. 2012-1A A1BR, 3.097%, (US0003M + 1.375%), 07/15/2029 | | | 252,498 | | | | 0.3 | |
| 250,000 | | | (2) | | Octagon Investment Partners XV Ltd. 2013-1A A2R, 3.089%, (US0003M + 1.350%), 07/19/2030 | | | 252,427 | | | | 0.3 | |
| 260,000 | | | (2) | | OHA Loan Funding Ltd. 2015-1A AR, 3.249%, (US0003M + 1.410%), 08/15/2029 | | | 263,770 | | | | 0.3 | |
| 250,000 | | | (2) | | Palmer Square CLO 2015-2A A1AR Ltd., 3.015%, (US0003M + 1.270%), 07/20/2030 | | | 250,998 | | | | 0.2 | |
| 250,000 | | | (2) | | Palmer Square CLO 2015-2A A1BR Ltd., 3.095%, (US0003M + 1.350%), 07/20/2030 | | | 251,305 | | | | 0.2 | |
| 250,000 | | | (2) | | THL Credit Wind River 2017-2A A CLO Ltd., 2.975%, (US0003M + 1.230%), 07/20/2030 | | | 251,495 | | | | 0.2 | |
| 100,000 | | | (2) | | Volvo Financial Equipment LLC Series 2017-1A A4, 2.210%, 11/15/2021 | | | 98,665 | | | | 0.1 | |
| | | | | | | | | 6,702,866 | | | | 6.3 | |
| | | | | | Student Loan Asset-Backed Securities: 0.2% | |
| 250,000 | | | (2) | | DRB Prime Student Loan Trust 2017-A A2B, 2.850%, 05/27/2042 | | | 246,017 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | Total Asset-Backed Securities | | | | | | | | |
| | | | (Cost $17,962,399) | | | 17,869,660 | | | | 16.8 | |
| | | | | | | | | | | | | | |
U.S. TREASURY OBLIGATIONS: 1.3% |
| | | | | | U.S. Treasury Notes: 1.3% | |
| 894,000 | | | | | 2.250%, 02/29/2020 | | | 893,568 | | | | 0.8 | |
| 531,000 | | | | | 2.250%, 03/31/2020 | | | 530,716 | | | | 0.5 | |
| | | | | | | | | | | | | | |
| | | | Total U.S. Treasury Obligations | | | | | | | | |
| | | | (Cost $1,423,952) | | | 1,424,284 | | | | 1.3 | |
| | | | | | | | | | | | | | |
COMMERCIAL MORTGAGE-BACKED SECURITIES: 10.4% |
| 147,183 | | | (2) | | Americold LLC 2010 Trust ARTA A2FL, 3.265%, (US0001M + 1.500%), 01/14/2029 | | | 147,382 | | | | 0.1 | |
| 266,310 | | | | | Bear Stearns Commercial Mortgage Securities Trust 2005-PWR9 C, 5.055%, 09/11/2042 | | | 264,172 | | | | 0.2 | |
| 410,000 | | | (2) | | Bear Stearns Commercial Mortgage Securities Trust 2006-TOP22 D, 5.760%, 04/12/2038 | | | 426,480 | | | | 0.4 | |
| 540,000 | | | (2) | | BXMT 2017-FL1 A Ltd., 2.656%, (US0001M + 0.870%), 06/15/2035 | | | 542,632 | | | | 0.5 | |
| 472,119 | | | | | Citigroup/Deutsche Bank Commercial Mortgage Trust 2006-CD3 AM, 5.648%, 10/15/2048 | | | 488,737 | | | | 0.5 | |
| 410,000 | | | | | COMM 2013-CR12 A2, 2.904%, 10/10/2046 | | | 410,494 | | | | 0.4 | |
| 208,906 | | | | | COMM 2013-LC13 A2, 3.009%, 08/10/2046 | | | 209,047 | | | | 0.2 | |
| 430,000 | | | | | COMM 2013-LC6 B Mortgage Trust, 3.739%, 01/10/2046 | | | 427,262 | | | | 0.4 | |
| 110,000 | | | | | COMM 2014-CR14 A2, 3.147%, 02/10/2047 | | | 110,328 | | | | 0.1 | |
| 170,000 | | | | | COMM 2014-CR17 A2, 3.012%, 05/10/2047 | | | 170,557 | | | | 0.2 | |
| 240,000 | | | | | COMM 2014-UBS6 A2, 2.935%, 12/10/2047 | | | 239,779 | | | | 0.2 | |
| 7,721,181 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K045 x1, 0.456%, 01/25/2025 | | | 205,369 | | | | 0.2 | |
| 3,039,959 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K703 X1, 2.070%, 05/25/2018 | | | 2,939 | | | | 0.0 | |
| 7,262,374 | | | (4) | | Freddie Mac Multifamily Structured Pass Through Certificates K705 X1, 1.703%, 09/25/2018 | | | 36,774 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 390,000 | | | (2) | | FREMF 2012-K705 B Mortgage Trust, 4.159%, 09/25/2044 | | | 391,520 | | | | 0.4 | |
| 310,000 | | | (2) | | FREMF Mortgage Trust 2012-K709 B, 3.742%, 04/25/2045 | | | 312,157 | | | | 0.3 | |
| 117,110 | | | (2) | | GCCFC Commercial Mortgage Trust 2004-GG1 F, 6.298%, 06/10/2036 | | | 116,252 | | | | 0.1 | |
| 191,067 | | | | | Ginnie Mae 2011-53 B, 4.397%, 05/16/2051 | | | 195,960 | | | | 0.2 | |
| 271,322 | | | | | Ginnie Mae 2014-168 DA, 2.400%, 06/16/2046 | | | 265,626 | | | | 0.3 | |
| 275,185 | | | | | Ginnie Mae 2015-183 AC, 2.350%, 07/16/2056 | | | 267,191 | | | | 0.3 | |
| 78,305 | | | | | Ginnie Mae 2015-21 AF, 2.071%, 07/16/2048 | | | 75,870 | | | | 0.1 | |
| 140,173 | | | | | Ginnie Mae 2015-81 AC, 2.400%, 01/16/2056 | | | 136,098 | | | | 0.1 | |
| 203,294 | | | | | Ginnie Mae 2016-110 AB, 2.000%, 05/16/2049 | | | 196,235 | | | | 0.2 | |
| 88,774 | | | | | Ginnie Mae 2016-86 AB, 2.500%, 09/16/2056 | | | 87,032 | | | | 0.1 | |
| 405,452 | | | | | Ginnie Mae 2017-100 AB, 2.300%, 04/16/2052 | | | 396,019 | | | | 0.4 | |
| 186,504 | | | | | Ginnie Mae 2017-50 AB, 2.400%, 02/16/2047 | | | 182,005 | | | | 0.2 | |
| 206,923 | | | | | Ginnie Mae 2017-51 AB, 2.350%, 04/16/2057 | | | 202,472 | | | | 0.2 | |
| 88,645 | | | | | Ginnie Mae 2017-69 AB, 2.350%, 05/16/2053 | | | 86,679 | | | | 0.1 | |
| 148,096 | | | | | Ginnie Mae 2017-70 A, 2.500%, 10/16/2057 | | | 144,602 | | | | 0.1 | |
| 552,886 | | | | | Ginnie Mae 2017-86 AB, 2.300%, 11/16/2051 | | | 538,005 | | | | 0.5 | |
| 345,782 | | | | | Ginnie Mae 2017-89 A, 2.500%, 08/16/2057 | | | 338,234 | | | | 0.3 | |
| 48,353 | | | | | GMAC Commercial Mortgage Securities, Inc. Series 2004-C3 Trust B, 4.965%, 12/10/2041 | | | 48,469 | | | | 0.0 | |
| 280,000 | | | | | GS Mortgage Securities Corp. II 2015-GC30 A2, 2.726%, 05/10/2050 | | | 278,384 | | | | 0.3 | |
| 52,110 | | | | | GS Mortgage Securities Trust 2013-GC16 A2, 3.033%, 11/10/2046 | | | 52,182 | | | | 0.0 | |
| 238,828 | | | | | GS Mortgage Securities Trust 2014-GC18 A2, 2.924%, 01/10/2047 | | | 239,203 | | | | 0.2 | |
| 72,201 | | | (2) | | JP Morgan Chase Commercial Mortgage Securities Trust 2003-CB6 H, 5.379%, 07/12/2037 | | | 71,615 | | | | 0.1 | |
| 244,105 | | | (2) | | JP Morgan Chase Commercial Mortgage Securities Trust 2011-C4 A3, 4.106%, 07/15/2046 | | | 244,173 | | | | 0.2 | |
| 1,040,000 | | | (2) | | JP Morgan Chase Commercial Mortgage Securities Trust 2011-C5 B, 5.408%, 08/15/2046 | | | 1,099,985 | | | | 1.0 | |
| 167,801 | | | | | JPMBB Commercial Mortgage Securities Trust 2 2014-C19 A2, 3.046%, 04/15/2047 | | | 168,411 | | | | 0.2 | |
| 167,817 | | | | | JPMBB Commercial Mortgage Securities Trust 2013-C15 A2, 2.977%, 11/15/2045 | | | 167,874 | | | | 0.2 | |
| 2,805 | | | | | LB-UBS Commercial Mortgage Trust 2008-C1 A2, 6.319%, 04/15/2041 | | | 2,849 | | | | 0.0 | |
| 353,875 | | | | | Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14 A2, 2.916%, 02/15/2047 | | | 354,605 | | | | 0.3 | |
| 390,000 | | | | | TIAA Seasoned Commercial Mortgage Trust 2007-C4 C, 5.477%, 08/15/2039 | | | 389,234 | | | | 0.4 | |
| 260,000 | | | | | Wells Fargo Commercial Mortgage Trust 2015-NXS1 A2, 2.632%, 05/15/2048 | | | 259,489 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | Total Commercial Mortgage-Backed Securities | | | | | | | | |
| | | | (Cost $11,151,888) | | | 10,990,382 | | | | 10.4 | |
| | | | | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | | |
| | | | (Cost $104,252,628) | | | 103,129,249 | | | | 97.2 | |
| | | | | | | | | | | | | | |
SHORT-TERM INVESTMENTS: 4.1% |
| | | | | | Securities Lending Collateral(5): 0.5% | |
| 581,600 | | | | | NBC Global Finance Ltd., Repurchase Agreement dated 03/29/18, 1.71%, due 04/02/18 (Repurchase Amount $581,709, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $593,232, due 06/30/19-09/09/49) | | | | | | | | |
| | | | | | (Cost $581,600) | | | 581,600 | | | | 0.5 | |
Shares | | | | | | | Value | | | Percentage of Net Assets | |
| | | | | | Mutual Funds: 3.6% | |
| 3,767,000 | | | (6) | | BlackRock Liquidity Funds, FedFund, Institutional Class, 1.550% | | | | | | | | |
| | | | | | (Cost $3,767,000) | | | 3,767,000 | | | | 3.6 | |
| | | | | | | | | | | | | | |
| | | | Total Short-Term Investments | | | | | | | | |
| | | | (Cost $4,348,600) | | | 4,348,600 | | | | 4.1 | |
| | | | | | | | | | | | | | |
| | | | Total Investments in Securities (Cost $108,601,228) | | $ | 107,477,849 | | | | 101.3 | |
| | | | Liabilities in Excess of Other Assets | | | (1,377,371 | ) | | | (1.3 | ) |
| | | | Net Assets | | $ | 106,100,478 | | | | 100.0 | |
† | Unless otherwise indicated, principal amount is shown in USD. |
(1) | Security, or a portion of the security, is on loan. |
See Accompanying Notes to Financial Statements
Voya Short Term Bond Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
(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) | 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. |
(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) | Represents securities purchased with cash collateral received for securities on loan. |
(6) | Rate shown is the 7-day yield as of March 31, 2018. |
Reference Rate Abbreviations: |
US0001M | 1-month LIBOR |
US0003M | 3-month LIBOR |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 |
Principal Amount† | | | | | | | Value | | | Percentage of Net Assets | |
CORPORATE BONDS/NOTES: 12.4% | |
| | | | | | Basic Materials: 1.1% | |
| 200,000 | | | (1) | | Alpha 3 BV / Alpha US Bidco, Inc., 6.250%, 02/01/2025 | | | 203,500 | | | | 0.1 | |
| 75,000 | | | | | ArcelorMittal, 7.000%, 03/01/2041 | | | 87,562 | | | | 0.0 | |
| 125,000 | | | | | ArcelorMittal, 7.250%, 10/15/2039 | | | 148,437 | | | | 0.0 | |
| 150,000 | | | (1) | | Aruba Investments, Inc., 8.750%, 02/15/2023 | | | 156,375 | | | | 0.0 | |
| 250,000 | | | | | Chemours Co/The, 5.375%, 05/15/2027 | | | 251,250 | | | | 0.1 | |
| 250,000 | | | (1),(2) | | Constellium NV, 6.625%, 03/01/2025 | | | 253,750 | | | | 0.1 | |
| 200,000 | | | (1) | | First Quantum Minerals Ltd., 6.500%, 03/01/2024 | | | 190,000 | | | | 0.0 | |
| 250,000 | | | (2) | | Freeport-McMoRan, Inc., 4.550%, 11/14/2024 | | | 246,875 | | | | 0.1 | |
| 200,000 | | | (2) | | Huntsman International LLC, 5.125%, 11/15/2022 | | | 207,250 | | | | 0.1 | |
| 450,000 | | | (1) | | Klabin Finance SA, 4.875%, 09/19/2027 | | | 433,688 | | | | 0.1 | |
| 200,000 | | | | | Olin Corp., 5.125%, 09/15/2027 | | | 197,750 | | | | 0.1 | |
| 350,000 | | | | | Southern Copper Corp., 5.875%, 04/23/2045 | | | 396,184 | | | | 0.1 | |
| 250,000 | | | | | Steel Dynamics, Inc., 5.500%, 10/01/2024 | | | 258,425 | | | | 0.1 | |
| 200,000 | | | | | Teck Resources Ltd., 5.200%, 03/01/2042 | | | 188,000 | | | | 0.0 | |
| 85,000 | | | (1) | | Tronox Finance PLC, 5.750%, 10/01/2025 | | | 82,875 | | | | 0.0 | |
| 300,000 | | | (1) | | Tronox, Inc., 6.500%, 04/15/2026 | | | 300,750 | | | | 0.1 | |
| 150,000 | | | (2) | | United States Steel Corp., 6.250%, 03/15/2026 | | | 149,813 | | | | 0.0 | |
| 200,000 | | | | | Valvoline, Inc., 4.375%, 08/15/2025 | | | 194,500 | | | | 0.1 | |
| | | | | | | | | 3,946,984 | | | | 1.1 | |
| | | | | | | | | | | | | | |
| | | | | | Communications: 1.7% | |
| 200,000 | | | (1),(2) | | Altice Finco SA, 8.125%, 01/15/2024 | | | 207,000 | | | | 0.1 | |
| 200,000 | | | (1) | | Altice France SA/France, 6.250%, 05/15/2024 | | | 189,250 | | | | 0.0 | |
| 200,000 | | | (1) | | Altice US Finance I Corp., 5.500%, 05/15/2026 | | | 195,500 | | | | 0.1 | |
| 250,000 | | | | | AMC Networks, Inc., 4.750%, 08/01/2025 | | | 241,532 | | | | 0.1 | |
| 290,000 | | | | | AT&T, Inc., 3.400%, 05/15/2025 | | | 279,712 | | | | 0.1 | |
| 150,000 | | | | | Cablevision Systems Corp., 5.875%, 09/15/2022 | | | 149,205 | | | | 0.0 | |
| 278,000 | | | | | CBS Corp., 4.000%, 01/15/2026 | | | 274,563 | | | | 0.1 | |
| 130,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 05/01/2027 | | | 123,747 | | | | 0.0 | |
| 335,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.000%, 02/01/2028 | | | 315,738 | | | | 0.1 | |
| 150,000 | | | (1) | | CCO Holdings LLC / CCO Holdings Capital Corp., 5.750%, 02/15/2026 | | | 149,627 | | | | 0.0 | |
| 273,000 | | | | | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.464%, 07/23/2022 | | | 279,233 | | | | 0.1 | |
| 150,000 | | | | | Comcast Corp., 4.250%, 01/15/2033 | | | 155,522 | | | | 0.0 | |
| 250,000 | | | (1) | | CommScope Technologies LLC, 5.000%, 03/15/2027 | | | 238,125 | | | | 0.1 | |
| 200,000 | | | (2) | | DISH DBS Corp., 5.000%, 03/15/2023 | | | 181,250 | | | | 0.0 | |
| 150,000 | | | (1) | | Frontier Communications Corp., 8.500%, 04/01/2026 | | | 145,875 | | | | 0.0 | |
| 200,000 | | | (1) | | Gray Television, Inc., 5.125%, 10/15/2024 | | | 194,000 | | | | 0.0 | |
| 250,000 | | | | | Intelsat Jackson Holdings SA, 5.500%, 08/01/2023 | | | 203,125 | | | | 0.1 | |
| 250,000 | | | | | Level 3 Financing, Inc., 5.250%, 03/15/2026 | | | 236,250 | | | | 0.1 | |
| 200,000 | | | (1) | | Nexstar Broadcasting, Inc., 5.625%, 08/01/2024 | | | 196,440 | | | | 0.1 | |
| 250,000 | | | (1) | | Salem Media Group, Inc., 6.750%, 06/01/2024 | | | 240,625 | | | | 0.1 | |
| 250,000 | | | (1),(2) | | Sinclair Television Group, Inc., 5.125%, 02/15/2027 | | | 233,125 | | | | 0.1 | |
| 250,000 | | | (1) | | Sirius XM Radio, Inc., 6.000%, 07/15/2024 | | | 258,125 | | | | 0.1 | |
| 250,000 | | | | | Sprint Corp., 7.125%, 06/15/2024 | | | 244,375 | | | | 0.1 | |
| 175,000 | | | (2) | | Sprint Corp., 7.625%, 03/01/2026 | | | 171,281 | | | | 0.0 | |
| 45,000 | | | | | Telecom Italia Capital SA, 6.375%, 11/15/2033 | | | 49,050 | | | | 0.0 | |
| 145,000 | | | | | Telecom Italia Capital SA, 7.721%, 06/04/2038 | | | 178,017 | | | | 0.0 | |
| 100,000 | | | (1) | | Telesat Canada / Telesat LLC, 8.875%, 11/15/2024 | | | 110,000 | | | | 0.0 | |
| 259,000 | | | | | Time Warner Cable LLC, 5.000%, 02/01/2020 | | | 266,100 | | | | 0.1 | |
| 65,000 | | | | | T-Mobile USA, Inc., 4.500%, 02/01/2026 | | | 62,481 | | | | 0.0 | |
| 278,000 | | | | | Verizon Communications, Inc., 4.812%, 03/15/2039 | | | 284,906 | | | | 0.1 | |
| 200,000 | | | (1) | | Virgin Media Secured Finance PLC, 5.250%, 01/15/2026 | | | 193,250 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 150,000 | | | (1) | | Zayo Group LLC / Zayo Capital, Inc., 5.750%, 01/15/2027 | | | 146,813 | | | | 0.0 | |
| | | | | | | | | 6,393,842 | | | | 1.7 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Cyclical: 1.6% | |
| 200,000 | | | (1) | | 1011778 BC ULC / New Red Finance, Inc., 5.000%, 10/15/2025 | | | 191,440 | | | | 0.0 | |
| 150,000 | | | (2) | | AMC Entertainment Holdings, Inc., 5.750%, 06/15/2025 | | | 148,312 | | | | 0.0 | |
| 60,000 | | | (2) | | AMC Entertainment Holdings, Inc., 5.875%, 11/15/2026 | | | 59,100 | | | | 0.0 | |
| 55,000 | | | (1) | | American Tire Distributors, Inc., 10.250%, 03/01/2022 | | | 56,444 | | | | 0.0 | |
| 200,000 | | | | | Asbury Automotive Group, Inc., 6.000%, 12/15/2024 | | | 204,500 | | | | 0.1 | |
| 250,000 | | | | | AV Homes, Inc., 6.625%, 05/15/2022 | | | 255,680 | | | | 0.1 | |
| 110,000 | | | (1) | | Boyne USA, Inc., 7.250%, 05/01/2025 | | | 113,437 | | | | 0.0 | |
| 150,000 | | | | | Cedar Fair L.P. / Canada's Wonderland Co. / Magnum Management Corp., 5.375%, 06/01/2024 | | | 152,812 | | | | 0.0 | |
| 350,000 | | | | | Century Communities, Inc., 5.875%, 07/15/2025 | | | 334,250 | | | | 0.1 | |
| 280,000 | | | (1) | | CRC Escrow Issuer LLC / CRC Finco, Inc., 5.250%, 10/15/2025 | | | 269,130 | | | | 0.1 | |
| 250,000 | | | (1) | | Dana Financing Luxembourg Sarl, 5.750%, 04/15/2025 | | | 255,312 | | | | 0.1 | |
| 250,000 | | | | | Goodyear Tire & Rubber Co/The, 4.875%, 03/15/2027 | | | 241,117 | | | | 0.1 | |
| 250,000 | | | | | H&E Equipment Services, Inc., 5.625%, 09/01/2025 | | | 252,812 | | | | 0.1 | |
| 150,000 | | | (1) | | Hot Topic, Inc., 9.250%, 06/15/2021 | | | 149,250 | | | | 0.0 | |
| 200,000 | | | (1) | | International Game Technology PLC, 6.500%, 02/15/2025 | | | 215,250 | | | | 0.1 | |
| 250,000 | | | (1) | | IRB Holding Corp., 6.750%, 02/15/2026 | | | 245,650 | | | | 0.1 | |
| 250,000 | | | (1) | | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC, 5.250%, 06/01/2026 | | | 249,688 | | | | 0.1 | |
| 200,000 | | | (1) | | Lennar Corp., 5.250%, 06/01/2026 | | | 198,500 | | | | 0.0 | |
| 150,000 | | | (1) | | Lennar Corp., 5.375%, 10/01/2022 | | | 154,875 | | | | 0.0 | |
| 200,000 | | | (2) | | Men's Wearhouse, Inc./The, 7.000%, 07/01/2022 | | | 206,500 | | | | 0.1 | |
| 250,000 | | | | | Meritage Homes Corp., 5.125%, 06/06/2027 | | | 236,875 | | | | 0.1 | |
| 150,000 | | | | | MGM Resorts International, 6.000%, 03/15/2023 | | | 157,875 | | | | 0.0 | |
| 150,000 | | | (1) | | Michaels Stores, Inc., 5.875%, 12/15/2020 | | | 152,063 | | | | 0.0 | |
| 160,000 | | | (1) | | Navistar International Corp., 6.625%, 11/01/2025 | | | 160,400 | | | | 0.0 | |
| 250,000 | | | (1) | | Penn National Gaming, Inc., 5.625%, 01/15/2027 | | | 240,625 | | | | 0.1 | |
| 150,000 | | | (1) | | PetSmart, Inc., 7.125%, 03/15/2023 | | | 85,875 | | | | 0.0 | |
| 100,000 | | | (1) | | Scientific Games International, Inc., 5.000%, 10/15/2025 | | | 97,500 | | | | 0.0 | |
| 90,000 | | | | | Scientific Games International, Inc., 6.625%, 05/15/2021 | | | 92,588 | | | | 0.0 | |
| 100,000 | | | | | Scientific Games International, Inc., 10.000%, 12/01/2022 | | | 108,063 | | | | 0.0 | |
| 150,000 | | | (1) | | Silversea Cruise Finance Ltd., 7.250%, 02/01/2025 | | | 159,375 | | | | 0.0 | |
| 55,000 | | | (1) | | Six Flags Entertainment Corp., 4.875%, 07/31/2024 | | | 53,694 | | | | 0.0 | |
| 210,000 | | | (1) | | Six Flags Entertainment Corp., 5.500%, 04/15/2027 | | | 208,425 | | | | 0.1 | |
| 275,000 | | | (1) | | Station Casinos LLC, 5.000%, 10/01/2025 | | | 261,938 | | | | 0.1 | |
| 250,000 | | | (1) | | Viking Cruises Ltd., 5.875%, 09/15/2027 | | | 237,500 | | | | 0.1 | |
| | | | | | | | | 6,206,855 | | | | 1.6 | |
| | | | | | | | | | | | | | |
| | | | | | Consumer, Non-cyclical: 1.8% | |
| 250,000 | | | | | Acadia Healthcare Co., Inc., 6.500%, 03/01/2024 | | | 261,250 | | | | 0.1 | |
| 277,000 | | | | | Allergan Funding SCS, 3.000%, 03/12/2020 | | | 275,670 | | | | 0.1 | |
| 140,000 | | | | | Amgen, Inc., 3.200%, 11/02/2027 | | | 132,826 | | | | 0.0 | |
| 95,000 | | | (1) | | Brink's Co/The, 4.625%, 10/15/2027 | | | 88,350 | | | | 0.0 | |
| 125,000 | | | (1) | | Cardtronics, Inc. / Cardtronics USA, Inc., 5.500%, 05/01/2025 | | | 118,437 | | | | 0.0 | |
| 280,000 | | | | | Celgene Corp., 3.250%, 08/15/2022 | | | 275,988 | | | | 0.1 | |
| 15,000 | | | | | Central Garden & Pet Co., 5.125%, 02/01/2028 | | | 14,287 | | | | 0.0 | |
| 200,000 | | | | | Central Garden & Pet Co., 6.125%, 11/15/2023 | | | 209,750 | | | | 0.1 | |
| 105,000 | | | | | CHS/Community Health Systems, Inc., 5.125%, 08/01/2021 | | | 98,175 | | | | 0.0 | |
| 150,000 | | | | | CHS/Community Health Systems, Inc., 6.250%, 03/31/2023 | | | 138,937 | | | | 0.0 | |
| 250,000 | | | (1) | | Cott Holdings, Inc., 5.500%, 04/01/2025 | | | 247,500 | | | | 0.1 | |
| 239,000 | | | | | CVS Health Corp., 3.875%, 07/20/2025 | | | 237,168 | | | | 0.1 | |
| 150,000 | | | (1),(3) | | Eagle Holding CO II LLC, 7.625% (PIK Rate 8.375%, Cash Rate 7.625%), 05/15/2022 | | | 151,500 | | | | 0.0 | |
| 50,000 | | | (1) | | Endo Dac / Endo Finance LLC / Endo Finco, Inc., 5.875%, 10/15/2024 | | | 49,500 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 200,000 | | | | | Envision Healthcare Corp., 5.625%, 07/15/2022 | | | 201,900 | | | | 0.1 | |
| 250,000 | | | | | HCA, Inc., 5.375%, 02/01/2025 | | | 251,250 | | | | 0.1 | |
| 150,000 | | | | | Encompass Health Corp., 5.750%, 11/01/2024 | | | 153,000 | | | | 0.0 | |
| 150,000 | | | (2) | | Hertz Corp., 7.375%, 01/15/2021 | | | 149,437 | | | | 0.0 | |
| 250,000 | | | (1) | | Hill-Rom Holdings, Inc., 5.750%, 09/01/2023 | | | 260,000 | | | | 0.1 | |
| 150,000 | | | (1) | | Jaguar Holding Co. II / Pharmaceutical Product Development LLC, 6.375%, 08/01/2023 | | | 152,062 | | | | 0.0 | |
| 90,000 | | | (1) | | JBS USA LUX SA / JBS USA Finance, Inc., 5.875%, 07/15/2024 | | | 88,114 | | | | 0.0 | |
| 265,000 | | | (1) | | JBS USA LUX SA / JBS USA Finance, Inc., 6.750%, 02/15/2028 | | | 254,731 | | | | 0.1 | |
| 275,000 | | | | | Kraft Heinz Foods Co., 2.800%, 07/02/2020 | | | 273,208 | | | | 0.1 | |
| 278,000 | | | | | Laboratory Corp. of America Holdings, 2.625%, 02/01/2020 | | | 275,900 | | | | 0.1 | |
| 40,000 | | | (1) | | Pilgrim's Pride Corp., 5.750%, 03/15/2025 | | | 38,950 | | | | 0.0 | |
| 135,000 | | | (1) | | Pilgrim's Pride Corp., 5.875%, 09/30/2027 | | | 127,237 | | | | 0.0 | |
| 125,000 | | | (1),(3) | | Polaris Intermediate Corp., 8.500% (PIK Rate 8.500%, Cash Rate 0.000%), 12/01/2022 | | | 127,814 | | | | 0.0 | |
| 125,000 | | | (1) | | Post Holdings, Inc., 5.000%, 08/15/2026 | | | 119,063 | | | | 0.0 | |
| 150,000 | | | (1) | | Post Holdings, Inc., 8.000%, 07/15/2025 | | | 168,937 | | | | 0.1 | |
| 100,000 | | | (2) | | Revlon Consumer Products Corp., 6.250%, 08/01/2024 | | | 62,125 | | | | 0.0 | |
| 263,000 | | | | | Reynolds American, Inc., 4.450%, 06/12/2025 | | | 270,802 | | | | 0.1 | |
| 95,000 | | | | | Teleflex, Inc., 4.625%, 11/15/2027 | | | 91,795 | | | | 0.0 | |
| 155,000 | | | | | Teleflex, Inc., 5.250%, 06/15/2024 | | | 159,263 | | | | 0.1 | |
| 150,000 | | | (2) | | Tenet Healthcare Corp., 6.750%, 06/15/2023 | | | 147,375 | | | | 0.0 | |
| 200,000 | | | (1) | | Teva Pharmaceutical Finance Netherlands III BV, 6.000%, 04/15/2024 | | | 194,391 | | | | 0.1 | |
| 350,000 | | | | | United Rentals North America, Inc., 4.625%, 10/15/2025 | | | 341,250 | | | | 0.1 | |
| 150,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 5.500%, 03/01/2023 | | | 131,813 | | | | 0.0 | |
| 150,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 5.500%, 11/01/2025 | | | 146,588 | | | | 0.0 | |
| 50,000 | | | (1) | | Valeant Pharmaceuticals International, Inc., 9.000%, 12/15/2025 | | | 49,875 | | | | 0.0 | |
| 100,000 | | | (1) | | Valeant Pharmaceuticals International, 9.250%, 04/01/2026 | | | 99,875 | | | | 0.0 | |
| 200,000 | | | (1) | | West Street Merger Sub, Inc., 6.375%, 09/01/2025 | | | 191,500 | | | | 0.1 | |
| | | | | | | | | 6,827,593 | | | | 1.8 | |
| | | | | | | | | | | | | | |
| | | | | | Energy: 1.8% | |
| 200,000 | | | | | Antero Resources Corp., 5.000%, 03/01/2025 | | | 201,500 | | | | 0.1 | |
| 160,000 | | | (1) | | Centennial Resource Production LLC, 5.375%, 01/15/2026 | | | 157,400 | | | | 0.0 | |
| 270,000 | | | | | Cheniere Corpus Christi Holdings LLC, 5.125%, 06/30/2027 | | | 268,987 | | | | 0.1 | |
| 70,000 | | | (1) | | Continental Resources, Inc./OK, 4.375%, 01/15/2028 | | | 68,337 | | | | 0.0 | |
| 250,000 | | | | | Continental Resources, Inc./OK, 4.500%, 04/15/2023 | | | 253,437 | | | | 0.1 | |
| 250,000 | | | (1) | | Covey Park Energy LLC / Covey Park Finance Corp., 7.500%, 05/15/2025 | | | 250,000 | | | | 0.1 | |
| 275,000 | | | (1) | | Delek Logistics Partners L.P., 6.750%, 05/15/2025 | | | 279,125 | | | | 0.1 | |
| 50,000 | | | (1) | | Diamondback Energy, Inc., 5.375%, 05/31/2025 | | | 50,837 | | | | 0.0 | |
| 80,000 | | | (1) | | Endeavor Energy Resources L.P. / EER Finance, Inc., 5.500%, 01/30/2026 | | | 79,800 | | | | 0.0 | |
| 120,000 | | | (1),(2) | | Endeavor Energy Resources L.P. / EER Finance, Inc., 5.750%, 01/30/2028 | | | 120,000 | | | | 0.0 | |
| 100,000 | | | | | Ensco PLC, 7.750%, 02/01/2026 | | | 92,000 | | | | 0.0 | |
| 200,000 | | | | | Gulfport Energy Corp., 6.375%, 05/15/2025 | | | 193,250 | | | | 0.1 | |
| 40,000 | | | (1) | | Gulfport Energy Corp., 6.375%, 01/15/2026 | | | 38,100 | | | | 0.0 | |
| 100,000 | | | (1) | | Hess Infrastructure Partners L.P. / Hess Infrastructure Partners Finance Corp., 5.625%, 02/15/2026 | | | 98,750 | | | | 0.0 | |
| 250,000 | | | (1) | | Indigo Natural Resources LLC, 6.875%, 02/15/2026 | | | 236,875 | | | | 0.1 | |
| 200,000 | | | (1),(2) | | Jonah Energy LLC / Jonah Energy Finance Corp., 7.250%, 10/15/2025 | | | 181,000 | | | | 0.0 | |
| 500,000 | | | | | KazMunayGas National Co. JSC, 4.750%, 04/19/2027 | | | 500,945 | | | | 0.1 | |
| 180,000 | | | (1) | | Lonestar Resources America, Inc., 11.250%, 01/01/2023 | | | 180,450 | | | | 0.0 | |
| 200,000 | | | (1) | | Moss Creek Resources Holdings, Inc., 7.500%, 01/15/2026 | | | 202,440 | | | | 0.1 | |
| 100,000 | | | | | Murphy Oil Corp., 6.875%, 08/15/2024 | | | 104,500 | | | | 0.0 | |
| 225,000 | | | | | Murphy Oil USA, Inc., 5.625%, 05/01/2027 | | | 226,969 | | | | 0.1 | |
| 135,000 | | | (1) | | NGPL PipeCo LLC, 4.875%, 08/15/2027 | | | 133,481 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 100,000 | | | (1) | | Noble Holding International Ltd., 7.875%, 02/01/2026 | | | 98,625 | | | | 0.0 | |
| 100,000 | | | (1) | | PBF Logistics L.P. / PBF Logistics Finance Corp., 6.875%, 05/15/2023 | | | 101,750 | | | | 0.0 | |
| 500,000 | | | | | Petrobras Global Finance BV, 5.750%, 02/01/2029 | | | 484,565 | | | | 0.1 | |
| 525,000 | | | | | Petrobras Global Finance BV, 7.375%, 01/17/2027 | | | 569,363 | | | | 0.2 | |
| 200,000 | | | | | Sanchez Energy Corp., 6.125%, 01/15/2023 | | | 146,875 | | | | 0.0 | |
| 150,000 | | | (1),(2) | | Sanchez Energy Corp., 7.250%, 02/15/2023 | | | 151,125 | | | | 0.0 | |
| 200,000 | | | (1) | | SRC Energy, Inc., 6.250%, 12/01/2025 | | | 201,500 | | | | 0.1 | |
| 110,000 | | | | | Summit Midstream Holdings LLC / Summit Midstream Finance Corp., 5.750%, 04/15/2025 | | | 105,325 | | | | 0.0 | |
| 100,000 | | | (1) | | Sunoco L.P. / Sunoco Finance Corp., 4.875%, 01/15/2023 | | | 96,625 | | | | 0.0 | |
| 10,000 | | | (1) | | Sunoco L.P. / Sunoco Finance Corp., 5.500%, 02/15/2026 | | | 9,675 | | | | 0.0 | |
| 10,000 | | | (1) | | Sunoco L.P. / Sunoco Finance Corp., 5.875%, 03/15/2028 | | | 9,688 | | | | 0.0 | |
| 200,000 | | | (1) | | Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp., 5.500%, 01/15/2028 | | | 202,000 | | | | 0.1 | |
| 200,000 | | | (1) | | Vermilion Energy, Inc., 5.625%, 03/15/2025 | | | 196,500 | | | | 0.1 | |
| 250,000 | | | | | WildHorse Resource Development Corp., 6.875%, 02/01/2025 | | | 251,875 | | | | 0.1 | |
| 200,000 | | | | | WPX Energy, Inc., 6.000%, 01/15/2022 | | | 206,500 | | | | 0.1 | |
| | | | | | | | | 6,750,174 | | | | 1.8 | |
| | | | | | | | | | | | | | |
| | | | | | Financial: 2.7% | |
| 150,000 | | | | | AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.625%, 10/30/2020 | | | 154,470 | | | | 0.0 | |
| 150,000 | | | (1) | | Alliance Data Systems Corp., 5.375%, 08/01/2022 | | | 150,750 | | | | 0.0 | |
| 100,000 | | | | | Ally Financial, Inc., 5.750%, 11/20/2025 | | | 103,405 | | | | 0.0 | |
| 530,000 | | | | | American Express Co., 2.200%, 10/30/2020 | | | 517,108 | | | | 0.1 | |
| 327,000 | | | | | Bank of America Corp., 2.625%, 10/19/2020 | | | 324,813 | | | | 0.1 | |
| 425,000 | | | | | BBVA Bancomer SA/Texas, 6.750%, 09/30/2022 | | | 465,375 | | | | 0.1 | |
| 409,000 | | | (1) | | BPCE SA, 4.500%, 03/15/2025 | | | 411,083 | | | | 0.1 | |
| 281,000 | | | | | Chubb INA Holdings, Inc., 3.350%, 05/03/2026 | | | 276,504 | | | | 0.1 | |
| 150,000 | | | | | CIT Group, Inc., 5.000%, 08/15/2022 | | | 153,937 | | | | 0.0 | |
| 25,000 | | | | | CIT Group, Inc., 5.250%, 03/07/2025 | | | 25,658 | | | | 0.0 | |
| 50,000 | | | | | CIT Group, Inc., 6.125%, 03/09/2028 | | | 52,000 | | | | 0.0 | |
| 280,000 | | | | | Citigroup, Inc., 2.650%, 10/26/2020 | | | 276,785 | | | | 0.1 | |
| 500,000 | | | (1) | | Credit Bank of Moscow Via CBOM Finance PLC, 5.550%, 02/14/2023 | | | 492,002 | | | | 0.1 | |
| 150,000 | | | | | Equinix, Inc., 5.750%, 01/01/2025 | | | 156,750 | | | | 0.0 | |
| 270,000 | | | (1) | | ESH Hospitality, Inc., 5.250%, 05/01/2025 | | | 263,331 | | | | 0.1 | |
| 403,000 | | | | | GE Capital International Funding Co. Unlimited Co., 3.373%, 11/15/2025 | | | 389,699 | | | | 0.1 | |
| 279,000 | | | | | Goldman Sachs Group, Inc., 4.250%, 10/21/2025 | | | 280,550 | | | | 0.1 | |
| 281,000 | | | | | HCP, Inc., 4.000%, 06/01/2025 | | | 281,708 | | | | 0.1 | |
| 277,000 | | | | | JPMorgan Chase & Co., 4.250%, 10/01/2027 | | | 280,743 | | | | 0.1 | |
| 184,000 | | | | | JPMorgan Chase & Co., 6.125%, 12/31/2199 | | | 192,970 | | | | 0.0 | |
| 250,000 | | | | | Lions Gate Capital Holdings LLC, 5.875%, 11/01/2024 | | | 259,375 | | | | 0.1 | |
| 400,000 | | | | | Lloyds Banking Group PLC, 4.582%, 12/10/2025 | | | 400,928 | | | | 0.1 | |
| 86,000 | | | | | M&T Bank Corp., 6.450%, 12/31/2199 | | | 94,815 | | | | 0.0 | |
| 268,000 | | | | | Morgan Stanley, 4.000%, 07/23/2025 | | | 270,460 | | | | 0.1 | |
| 205,000 | | | | | MPT Operating Partnership L.P. / MPT Finance Corp., 5.000%, 10/15/2027 | | | 201,474 | | | | 0.1 | |
| 250,000 | | | (1) | | Multibank, Inc., 4.375%, 11/09/2022 | | | 247,812 | | | | 0.1 | |
| 300,000 | | | | | Navient Corp., 5.875%, 10/25/2024 | | | 295,500 | | | | 0.1 | |
| 165,000 | | | (1) | | Quicken Loans, Inc., 5.250%, 01/15/2028 | | | 154,687 | | | | 0.0 | |
| 250,000 | | | (1),(2) | | Realogy Group LLC / Realogy Co-Issuer Corp., 5.250%, 12/01/2021 | | | 251,638 | | | | 0.1 | |
| 970,000 | | | | | Simon Property Group L.P., 3.375%, 12/01/2027 | | | 931,154 | | | | 0.2 | |
| 50,000 | | | | | Springleaf Finance Corp., 6.125%, 05/15/2022 | | | 51,080 | | | | 0.0 | |
| 255,000 | | | (1) | | Tempo Acquisition LLC / Tempo Acquisition Finance Corp., 6.750%, 06/01/2025 | | | 255,319 | | | | 0.1 | |
| 350,000 | | | (1) | | Turkiye Garanti Bankasi AS, 6.125%, 05/24/2027 | | | 341,202 | | | | 0.1 | |
| 250,000 | | | (1) | | Turkiye Vakiflar Bankasi TAO, 5.750%, 01/30/2023 | | | 243,942 | | | | 0.1 | |
| 200,000 | | | (1) | | UBS Group Funding Switzerland AG, 2.950%, 09/24/2020 | | | 198,598 | | | | 0.0 | |
| 250,000 | | | (1) | | UniCredit SpA, 5.861%, 06/19/2032 | | | 254,428 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 269,000 | | | | | Wells Fargo & Co., 4.300%, 07/22/2027 | | | 270,770 | | | | 0.1 | |
| 89,000 | | | | | Wells Fargo & Co., 5.900%, 12/31/2199 | | | 91,790 | | | | 0.0 | |
| 250,000 | | | (1) | | Yapi ve Kredi Bankasi AS, 5.750%, 02/24/2022 | | | 249,280 | | | | 0.1 | |
| | | | | | | | | 10,313,893 | | | | 2.7 | |
| | | | | | | | | | | | | | |
| | | | | | Industrial: 1.2% | |
| 250,000 | | | (1) | | Advanced Disposal Services, Inc., 5.625%, 11/15/2024 | | | 253,125 | | | | 0.1 | |
| 250,000 | | | | | AECOM, 5.875%, 10/15/2024 | | | 262,812 | | | | 0.1 | |
| 135,000 | | | (1) | | Bombardier, Inc., 7.500%, 12/01/2024 | | | 140,063 | | | | 0.0 | |
| 250,000 | | | (1) | | Bombardier, Inc., 8.750%, 12/01/2021 | | | 275,312 | | | | 0.1 | |
| 250,000 | | | (1) | | BWAY Holding Co., 7.250%, 04/15/2025 | | | 255,625 | | | | 0.1 | |
| 500,000 | | | | | Cemex SAB de CV, 6.125%, 05/05/2025 | | | 521,350 | | | | 0.1 | |
| 160,000 | | | (1) | | FXI Holdings, Inc., 7.875%, 11/01/2024 | | | 157,100 | | | | 0.0 | |
| 118,000 | | | (1) | | Gates Global LLC / Gates Global Co., 6.000%, 07/15/2022 | | | 119,929 | | | | 0.0 | |
| 250,000 | | | (1) | | Itron, Inc., 5.000%, 01/15/2026 | | | 246,950 | | | | 0.1 | |
| 150,000 | | | (1) | | Jeld-Wen, Inc., 4.625%, 12/15/2025 | | | 144,375 | | | | 0.0 | |
| 150,000 | | | (1) | | Jeld-Wen, Inc., 4.875%, 12/15/2027 | | | 142,125 | | | | 0.0 | |
| 200,000 | | | | | Lockheed Martin Corp., 3.550%, 01/15/2026 | | | 198,549 | | | | 0.1 | |
| 20,000 | | | (1) | | Masonite International Corp., 5.625%, 03/15/2023 | | | 20,675 | | | | 0.0 | |
| 20,000 | | | (1) | | Multi-Color Corp., 4.875%, 11/01/2025 | | | 18,750 | | | | 0.0 | |
| 150,000 | | | (1) | | Multi-Color Corp., 6.125%, 12/01/2022 | | | 155,250 | | | | 0.0 | |
| 250,000 | | | (1) | | Novelis Corp., 5.875%, 09/30/2026 | | | 246,875 | | | | 0.1 | |
| 160,000 | | | (1) | | Plastipak Holdings, Inc., 6.250%, 10/15/2025 | | | 160,400 | | | | 0.1 | |
| 150,000 | | | (1) | | Sealed Air Corp., 5.500%, 09/15/2025 | | | 155,625 | | | | 0.0 | |
| 125,000 | | | (1) | | Standard Industries, Inc./NJ, 5.000%, 02/15/2027 | | | 121,649 | | | | 0.0 | |
| 150,000 | | | (1) | | Standard Industries, Inc./NJ, 6.000%, 10/15/2025 | | | 154,500 | | | | 0.0 | |
| 250,000 | | | | | Summit Materials LLC / Summit Materials Finance Corp., 6.125%, 07/15/2023 | | | 256,250 | | | | 0.1 | |
| 250,000 | | | | | TransDigm, Inc., 6.500%, 05/15/2025 | | | 253,125 | | | | 0.1 | |
| 200,000 | | | (1) | | Wrangler Buyer Corp., 6.000%, 10/01/2025 | | | 197,500 | | | | 0.1 | |
| | | | | | | | | 4,457,914 | | | | 1.2 | |
| | | | | | | | | | | | | | |
| | | | | | Technology: 0.4% | |
| 200,000 | | | (1) | | Ascend Learning LLC, 6.875%, 08/01/2025 | | | 206,000 | | | | 0.1 | |
| 200,000 | | | (1) | | CDK Global, Inc., 4.875%, 06/01/2027 | | | 193,000 | | | | 0.0 | |
| 60,000 | | | | | CDW LLC / CDW Finance Corp., 5.000%, 09/01/2025 | | | 60,000 | | | | 0.0 | |
| 220,000 | | | (1) | | Change Healthcare Holdings LLC / Change Healthcare Finance, Inc., 5.750%, 03/01/2025 | | | 218,966 | | | | 0.1 | |
| 250,000 | | | (1) | | First Data Corp., 7.000%, 12/01/2023 | | | 263,438 | | | | 0.1 | |
| 150,000 | | | | | NCR Corp., 6.375%, 12/15/2023 | | | 156,000 | | | | 0.0 | |
| 350,000 | | | | | Oracle Corp., 3.250%, 11/15/2027 | | | 341,577 | | | | 0.1 | |
| | | | | | | | | 1,438,981 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Utilities: 0.1% | |
| 200,000 | | | (2) | | Calpine Corp., 5.750%, 01/15/2025 | | | 183,500 | | | | 0.1 | |
| 80,000 | | | (1) | | NRG Energy, Inc., 5.750%, 01/15/2028 | | | 78,400 | | | | 0.0 | |
| 150,000 | | | | | NRG Energy, Inc., 6.250%, 07/15/2022 | | | 155,205 | | | | 0.0 | |
| | | | | | | | | 417,105 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | Total Corporate Bonds/Notes | | | | | | | | |
| | | | (Cost $47,557,611) | | | 46,753,341 | | | | 12.4 | |
| | | | | | | | | | | | | | |
COLLATERALIZED MORTGAGE OBLIGATIONS: 12.8% | |
| 616,302 | | | | | Adjustable Rate Mortgage Trust 2006-2 1A1, 3.827%, 05/25/2036 | | | 581,261 | | | | 0.2 | |
| 186,683 | | | | | Alternative Loan Trust 2005-10CB 1A1, 2.372%, (US0001M + 0.500%), 05/25/2035 | | | 166,587 | | | | 0.0 | |
| 744,747 | | | | | Alternative Loan Trust 2005-10CB 1A2, 2.322%, (US0001M + 0.450%), 05/25/2035 | | | 663,147 | | | | 0.2 | |
| 777,295 | | | | | Alternative Loan Trust 2005-23CB A15, 5.500%, 07/25/2035 | | | 737,780 | | | | 0.2 | |
| 266,525 | | | | | Alternative Loan Trust 2005-51 3A2A, 2.573%, (12MTA + 1.290%), 11/20/2035 | | | 258,383 | | | | 0.1 | |
| 85,548 | | | | | Alternative Loan Trust 2005-6CB 1A3, 5.250%, 04/25/2035 | | | 82,334 | | | | 0.0 | |
| 396,816 | | | | | Alternative Loan Trust 2005-J2 1A12, 2.272%, (US0001M + 0.400%), 04/25/2035 | | | 352,915 | | | | 0.1 | |
| 48,943 | | | | | Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036 | | | 39,517 | | | | 0.0 | |
| 921,033 | | | | | Alternative Loan Trust 2006-18CB A10, 2.272%, (US0001M + 0.400%), 07/25/2036 | | | 645,100 | | | | 0.2 | |
| 223,885 | | | | | Alternative Loan Trust 2006-19CB A12, 2.272%, (US0001M + 0.400%), 08/25/2036 | | | 165,375 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 948,102 | | | | | Alternative Loan Trust 2006-19CB A28, 2.472%, (US0001M + 0.600%), 08/25/2036 | | | 711,342 | | | | 0.2 | |
| 660,519 | | | | | Alternative Loan Trust 2006-HY11 A1, 1.992%, (US0001M + 0.120%), 06/25/2036 | | | 603,540 | | | | 0.2 | |
| 237,946 | | | | | Alternative Loan Trust 2007-2CB 2A1, 2.472%, (US0001M + 0.600%), 03/25/2037 | | | 168,230 | | | | 0.0 | |
| 458,823 | | | | | Alternative Loan Trust 2007-HY8C A1, 2.032%, (US0001M + 0.160%), 09/25/2047 | | | 446,091 | | | | 0.1 | |
| 644,772 | | | | | Alternative Loan Trust 2007-OA4 A1, 2.042%, (US0001M + 0.170%), 05/25/2047 | | | 585,339 | | | | 0.2 | |
| 29,542 | | | (1),(4) | | Angel Oak Mortgage Trust LLC 2015-1 A, 4.500%, 11/25/2045 | | | 29,463 | | | | 0.0 | |
| 348,213 | | | | | Bear Stearns ALT-A Trust 2006-6 31A1, 3.541%, 11/25/2036 | | | 326,275 | | | | 0.1 | |
| 987,463 | | | | | Bear Stearns ALT-A Trust 2006-6 32A1, 4.267%, 11/25/2036 | | | 846,356 | | | | 0.2 | |
| 269,041 | | | | | Bear Stearns Structured Products, Inc. Trust 2007-R6 1A1, 3.633%, 01/26/2036 | | | 238,457 | | | | 0.1 | |
| 33,622 | | | (1) | | Bellemeade Re Ltd. 2015-1A M2, 6.172%, (US0001M + 4.300%), 07/25/2025 | | | 34,225 | | | | 0.0 | |
| 57,959 | | | | | Chase Mortgage Finance Trust Series 2006-A1 2A3, 3.652%, 09/25/2036 | | | 58,217 | | | | 0.0 | |
| 129,668 | | | | | CHL Mortgage Pass-Through Trust 2004-22 A3, 3.491%, 11/25/2034 | | | 129,416 | | | | 0.0 | |
| 223,215 | | | | | Citigroup Mortgage Loan Trust 2006-AR2 1A1, 3.589%, 03/25/2036 | | | 209,729 | | | | 0.1 | |
| 128,706 | | | | | Citigroup Mortgage Loan Trust 2006-AR9 2A, 3.743%, 11/25/2036 | | | 112,766 | | | | 0.0 | |
| 374,136 | | | (1) | | Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058 | | | 390,042 | | | | 0.1 | |
| 33,848 | | | | | Countrywide Alternative Loan Trust 2005-53T2 2A6, 2.372%, (US0001M + 0.500%), 11/25/2035 | | | 20,931 | | | | 0.0 | |
| 1,200,000 | | | | | Countrywide Asset-Backed Certificates 2005-IM1 M1, 2.592%, (US0001M + 0.720%), 11/25/2035 | | | 1,183,790 | | | | 0.3 | |
| 653,417 | | | | | CSMC Series 2007-2 3A6, 5.400%, 03/25/2037 | | | 597,225 | | | | 0.2 | |
| 853,066 | | | | | Deutsche ALT-A Securities, Inc. ALT 2007-AB1 A1, 2.172%, (US0001M + 0.300%), 04/25/2037 | | | 572,652 | | | | 0.2 | |
| 205,240 | | | (1) | | Deutsche Mortgage Securities, Inc. Re-REMIC Trust Certificates Series 2007-WM1 A1, 3.314%, 06/27/2037 | | | 208,339 | | | | 0.1 | |
| 1,088,197 | | | (5) | | Fannie Mae 2007-18 BS, 4.729%, (-1.000*US0001M + 6.600%), 06/25/2035 | | | 172,825 | | | | 0.1 | |
| 2,437,193 | | | (5) | | Fannie Mae 2008-94 SI, 3.629%, (-1.000*US0001M + 5.500%), 04/25/2036 | | | 419,166 | | | | 0.1 | |
| 2,019,041 | | | (5) | | Fannie Mae 2009-95 HI, 6.000%, 12/25/2038 | | | 155,483 | | | | 0.0 | |
| 433,227 | | | | | Fannie Mae 2010-15 FD, 2.612%, (US0001M + 0.740%), 03/25/2040 | | | 441,165 | | | | 0.1 | |
| 1,066,772 | | | | | Fannie Mae 2011-47 GF, 2.442%, (US0001M + 0.570%), 06/25/2041 | | | 1,078,896 | | | | 0.3 | |
| 383,155 | | | | | Fannie Mae 2012-10 UF, 2.422%, (US0001M + 0.550%), 02/25/2042 | | | 386,277 | | | | 0.1 | |
| 435,146 | | | (5) | | Fannie Mae 2012-84 KI, 6.000%, (US0001M + 0.000%), 08/25/2042 | | | 95,499 | | | | 0.0 | |
| 1,755,798 | | | (5) | | Fannie Mae 2012-93 IL, 3.000%, 09/25/2027 | | | 158,634 | | | | 0.0 | |
| 2,641,786 | | | (5) | | Fannie Mae 2015-56 DI, 3.000%, 12/25/2032 | | | 237,261 | | | | 0.1 | |
| 167,229 | | | | | Fannie Mae Connecticut Avenue Securities 2014-CO4 1M2, 6.772%, (US0001M + 4.900%), 11/25/2024 | | | 191,546 | | | | 0.1 | |
| 1,100,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C02 2M2, 5.522%, (US0001M + 3.650%), 09/25/2029 | | | 1,198,152 | | | | 0.3 | |
| 650,000 | | | | | Fannie Mae Connecticut Avenue Securities 2017-C05 1M2, 4.072%, (US0001M + 2.200%), 01/25/2030 | | | 659,092 | | | | 0.2 | |
| 900,000 | | | | | Fannie Mae Connecticut Avenue Securities 2018-C02 2M2, 4.072%, (US0001M + 2.200%), 08/25/2030 | | | 905,805 | | | | 0.2 | |
| 400,000 | | | | | Fannie Mae Connecticut Avenue Securities 2018-CO1 1M2, 4.122%, (US0001M + 2.250%), 07/25/2030 | | | 405,655 | | | | 0.1 | |
| 244,423 | | | (5) | | Fannie Mae REMIC Trust 2000-26 SP, 6.629%, (-1.000*US0001M + 8.500%), 08/25/2030 | | | 45,181 | | | | 0.0 | |
| 345,323 | | | (5) | | Fannie Mae REMIC Trust 2002-13 SR, 4.729%, (-1.000*US0001M + 6.600%), 03/25/2032 | | | 45,174 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 178,003 | | | (5) | | Fannie Mae REMIC Trust 2004-64 SW, 5.179%, (-1.000*US0001M + 7.050%), 08/25/2034 | | | 29,249 | | | | 0.0 | |
| 130,173 | | | (5) | | Fannie Mae REMIC Trust 2004-66 SE, 4.629%, (-1.000*US0001M + 6.500%), 09/25/2034 | | | 18,760 | | | | 0.0 | |
| 261,848 | | | (5) | | Fannie Mae REMIC Trust 2008-47 PS, 4.629%, (-1.000*US0001M + 6.500%), 06/25/2038 | | | 5,881 | | | | 0.0 | |
| 639,098 | | | (5) | | Fannie Mae REMIC Trust 2009-25 SN, 4.679%, (-1.000*US0001M + 6.550%), 04/25/2039 | | | 102,585 | | | | 0.0 | |
| 359,441 | | | (5) | | Fannie Mae REMIC Trust 2012-146 LI, 4.500%, 10/25/2041 | | | 42,082 | | | | 0.0 | |
| 29,418,426 | | | (5) | | Fannie Mae REMIC Trust 2012-66 IB, 0.050%, (-1.000*US0001M + 6.050%), 06/25/2042 | | | 64,079 | | | | 0.0 | |
| 1,350,238 | | | (5) | | Fannie Mae REMIC Trust 2013-116 SC, 4.329%, (-1.000*US0001M + 6.200%), 04/25/2033 | | | 166,220 | | | | 0.0 | |
| 992,694 | | | | | Fannie Mae Series 2006-11 FA, 2.172%, (US0001M + 0.300%), 03/25/2036 | | | 993,812 | | | | 0.3 | |
| 111,973 | | | | | First Horizon Alternative Mortgage Securities Trust 2006-FA8 1A7, 6.000%, 02/25/2037 | | | 90,450 | | | | 0.0 | |
| 698,811 | | | (1) | | Flagstar Mortgage Trust 2018-1 B3, 4.069%, 03/25/2048 | | | 674,285 | | | | 0.2 | |
| 2,430,482 | | | (5) | | Freddie Mac 2009-70 PS, 4.879%, (-1.000*US0001M + 6.750%), 01/25/2037 | | | 423,442 | | | | 0.1 | |
| 339,159 | | | (5) | | Freddie Mac 2524 SH, 5.723%, (-1.000*US0001M + 7.500%), 11/15/2032 | | | 34,246 | | | | 0.0 | |
| 627,181 | | | (5) | | Freddie Mac 2525 SM, 6.223%, (-1.000*US0001M + 8.000%), 02/15/2032 | | | 116,651 | | | | 0.0 | |
| 623,315 | | | (5) | | Freddie Mac 2981 CS, 4.943%, (-1.000*US0001M + 6.720%), 05/15/2035 | | | 84,572 | | | | 0.0 | |
| 236,955 | | | (5) | | Freddie Mac 2989 HS, 5.373%, (-1.000*US0001M + 7.150%), 08/15/2034 | | | 83,506 | | | | 0.0 | |
| 331,931 | | | (5) | | Freddie Mac 3018 SM, 5.423%, (-1.000*US0001M + 7.200%), 08/15/2035 | | | 62,434 | | | | 0.0 | |
| 573,655 | | | (5) | | Freddie Mac 324 144, 6.085%, 06/15/2039 | | | 131,826 | | | | 0.0 | |
| 1,159,542 | | | (5) | | Freddie Mac 3523 SA, 4.223%, (-1.000*US0001M + 6.000%), 09/15/2036 | | | 154,170 | | | | 0.0 | |
| 1,030,410 | | | (5) | | Freddie Mac 3582 MS, 4.373%, (-1.000*US0001M + 6.150%), 10/15/2039 | | | 141,086 | | | | 0.0 | |
| 1,566,500 | | | (5) | | Freddie Mac 3688 BI, 5.000%, 07/15/2040 | | | 317,044 | | | | 0.1 | |
| 6,211,475 | | | (5) | | Freddie Mac 4186 IA, 3.000%, 03/15/2033 | | | 828,066 | | | | 0.2 | |
| 256,757 | | | (5) | | Freddie Mac 4333 AI, 5.500%, 02/15/2044 | | | 51,229 | | | | 0.0 | |
| 225,395 | | | (5) | | Freddie Mac REMIC Trust 2266 S, 6.773%, (-1.000*US0001M + 8.550%), 11/15/2030 | | | 37,510 | | | | 0.0 | |
| 290,210 | | | (5) | | Freddie Mac REMIC Trust 2374 S, 6.323%, (-1.000*US0001M + 8.100%), 06/15/2031 | | | 54,958 | | | | 0.0 | |
| 160,821 | | | (5) | | Freddie Mac REMIC Trust 2417 SY, 6.623%, (-1.000*US0001M + 8.400%), 12/15/2031 | | | 32,915 | | | | 0.0 | |
| 340,240 | | | (5) | | Freddie Mac REMIC Trust 2577 SA, 5.673%, (-1.000*US0001M + 7.450%), 02/15/2033 | | | 61,191 | | | | 0.0 | |
| 20,559 | | | | | Freddie Mac REMIC Trust 2973 SB, 11.819%, (-3.667*US0001M + 18.333%), 05/15/2035 | | | 21,903 | | | | 0.0 | |
| 148,535 | | | (5) | | Freddie Mac REMIC Trust 2981 SU, 6.023%, (-1.000*US0001M + 7.800%), 05/15/2030 | | | 25,018 | | | | 0.0 | |
| 74,949 | | | (5) | | Freddie Mac REMIC Trust 2993 PS, 4.923%, (-1.000*US0001M + 6.700%), 05/15/2035 | | | 1,399 | | | | 0.0 | |
| 58,493 | | | | | Freddie Mac REMIC Trust 3031 BP, 8.000%, (-6.723*US0001M + 44.975%), 08/15/2035 | | | 72,804 | | | | 0.0 | |
| 1,014,041 | | | (5) | | Freddie Mac REMIC Trust 3049 PI, 4.873%, (-1.000*US0001M + 6.650%), 10/15/2035 | | | 160,392 | | | | 0.0 | |
| 65,376 | | | | | Freddie Mac REMIC Trust 3085 SK, 44.681%, (-12.000*US0001M + 66.000%), 12/15/2035 | | | 171,202 | | | | 0.1 | |
| 110,590 | | | (6),(7) | | Freddie Mac REMIC Trust 3151 PO, 05/15/2036 | | | 94,378 | | | | 0.0 | |
| 334,201 | | | (5) | | Freddie Mac REMIC Trust 3590 PI, 6.000%, 07/15/2039 | | | 26,872 | | | | 0.0 | |
| 291,094 | | | (5) | | Freddie Mac REMIC Trust 3624 TS, 3.023%, (-1.000*US0001M + 4.800%), 01/15/2040 | | | 27,316 | | | | 0.0 | |
| 530,383 | | | (5) | | Freddie Mac REMIC Trust 4261 ID, 6.500%, 06/15/2032 | | | 94,769 | | | | 0.0 | |
| 1,701,538 | | | (5) | | Freddie Mac REMIC Trust 4287 CI, 4.500%, 07/15/2041 | | | 300,334 | | | | 0.1 | |
| 1,098,015 | | | | | Freddie Mac REMICS 2921 PF, 2.127%, (US0001M + 0.350%), 01/15/2035 | | | 1,094,144 | | | | 0.3 | |
| 1,916,059 | | | | | Freddie Mac REMICS Trust 3740 FB, 2.277%, (US0001M + 0.500%), 10/15/2040 | | | 1,928,362 | | | | 0.5 | |
| 2,140,870 | | | (5) | | Freddie Mac Strips Series 224 IO, 6.000%, 03/01/2033 | | | 515,237 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,113,285 | | | (5) | | Freddie Mac Strips Series 237 S23, 5.323%, (-1.000*US0001M + 7.100%), 05/15/2036 | | | 195,597 | | | | 0.1 | |
| 1,496,486 | | | (5) | | Freddie Mac Strips Series 260 33, 4.000%, 05/15/2039 | | | 251,906 | | | | 0.1 | |
| 500,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2015-HQA1 M3, 6.572%, (US0001M + 4.700%), 03/25/2028 | | | 574,032 | | | | 0.2 | |
| 600,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-DNA2 M2, 5.322%, (US0001M + 3.450%), 10/25/2029 | | | 653,306 | | | | 0.2 | |
| 250,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-DNA3 M2, 4.372%, (US0001M + 2.500%), 03/25/2030 | | | 256,573 | | | | 0.1 | |
| 250,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA2 M2, 4.522%, (US0001M + 2.650%), 12/25/2029 | | | 258,054 | | | | 0.1 | |
| 500,000 | | | | | Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA3 M2, 4.222%, (US0001M + 2.350%), 04/25/2030 | | | 506,892 | | | | 0.1 | |
| 332,335 | | | (5) | | Ginnie Mae 2011-101 EI, 6.000%, (-19.355*US0001M + 109.161%), 10/16/2039 | | | 63,047 | | | | 0.0 | |
| 750,112 | | | (5) | | Ginnie Mae Series 2008-40 SA, 4.614%, (-1.000*US0001M + 6.400%), 05/16/2038 | | | 117,110 | | | | 0.0 | |
| 1,347,389 | | | (5) | | Ginnie Mae Series 2009-116 SJ, 4.694%, (-1.000*US0001M + 6.480%), 12/16/2039 | | | 197,016 | | | | 0.1 | |
| 1,244,473 | | | (5) | | Ginnie Mae Series 2010-4 SL, 4.614%, (-1.000*US0001M + 6.400%), 01/16/2040 | | | 181,621 | | | | 0.1 | |
| 431,177 | | | (5) | | Ginnie Mae Series 2010-98 QS, 4.778%, (-1.000*US0001M + 6.600%), 01/20/2040 | | | 51,218 | | | | 0.0 | |
| 3,432,184 | | | (5) | | Ginnie Mae Series 2011-101 BI, 0.650%, (-1.000*US0001M + 6.650%), 11/20/2037 | | | 77,851 | | | | 0.0 | |
| 70,972 | | | (5) | | Ginnie Mae Series 2012-149 BI, 3.500%, 10/20/2041 | | | 10,076 | | | | 0.0 | |
| 604,218 | | | (5) | | Ginnie Mae Series 2013-103 DS, 4.328%, (-1.000*US0001M + 6.150%), 07/20/2043 | | | 91,422 | | | | 0.0 | |
| 224,985 | | | (5) | | Ginnie Mae Series 2013-134 DS, 4.278%, (-1.000*US0001M + 6.100%), 09/20/2043 | | | 33,288 | | | | 0.0 | |
| 505,797 | | | (5) | | Ginnie Mae Series 2013-44 LI, 4.500%, 01/16/2043 | | | 85,992 | | | | 0.0 | |
| 7,963,930 | | | (5) | | Ginnie Mae Series 2015-69 IL, 0.200%, (-1.000*US0001M + 6.700%), 07/20/2034 | | | 62,460 | | | | 0.0 | |
| 419,320 | | | (5) | | Ginnie Mae Series 2015-98 IU, 4.000%, 08/20/2044 | | | 70,087 | | | | 0.0 | |
| 11,867 | | | (5) | | Ginnie Mae Series 2016-12 MI, 5.000%, 04/20/2039 | | | 159 | | | | 0.0 | |
| 1,306,134 | | | (5) | | Ginnie Mae Series 2016-8 PI, 4.000%, 10/20/2044 | | | 209,454 | | | | 0.1 | |
| 652,612 | | | | | HarborView Mortgage Loan Trust 2006-14 2A1A, 1.958%, (US0001M + 0.150%), 01/25/2047 | | | 611,898 | | | | 0.2 | |
| 801,047 | | | | | HarborView Mortgage Loan Trust 2007-5 A1A, 1.998%, (US0001M + 0.190%), 09/19/2037 | | | 748,827 | | | | 0.2 | |
| 4,578 | | | | | HomeBanc Mortgage Trust 2004-1 2A, 2.732%, (US0001M + 0.860%), 08/25/2029 | | | 4,404 | | | | 0.0 | |
| 59,993 | | | | | HomeBanc Mortgage Trust 2005-3 A2, 2.182%, (US0001M + 0.310%), 07/25/2035 | | | 59,966 | | | | 0.0 | |
| 111,530 | | | | | IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 2.082%, (US0001M + 0.210%), 04/25/2046 | | | 103,598 | | | | 0.0 | |
| 117,416 | | | | | JP Morgan Mortgage Trust 2005-S3 1A10, 6.000%, 01/25/2036 | | | 103,029 | | | | 0.0 | |
| 311,385 | | | | | JP Morgan Mortgage Trust 2006-S2 1A18, 6.000%, 07/25/2036 | | | 281,224 | | | | 0.1 | |
| 684,455 | | | | | JP Morgan Mortgage Trust 2006-S3 1A30, 6.500%, 08/25/2036 | | | 578,375 | | | | 0.2 | |
| 669,791 | | | (1) | | JP Morgan Mortgage Trust 2016-1 B3, 3.881%, 05/25/2046 | | | 670,362 | | | | 0.2 | |
| 597,154 | | | (1) | | JP Morgan Mortgage Trust 2017-6 B3, 3.857%, 12/25/2048 | | | 573,550 | | | | 0.2 | |
| 77,655 | | | | | Lehman XS Trust Series 2005-5N 1A2, 2.232%, (US0001M + 0.360%), 11/25/2035 | | | 69,279 | | | | 0.0 | |
| 1,486,141 | | | | | Morgan Stanley Mortgage Loan Trust 2006-9AR A2, 2.022%, (US0001M + 0.150%), 08/25/2036 | | | 780,662 | | | | 0.2 | |
| 58,788 | | | | | Prime Mortgage Trust 2007-1 A4, 5.500%, 03/25/2037 | | | 57,431 | | | | 0.0 | |
| 798,782 | | | (1) | | Sequoia Mortgage Trust 2018-CH1 B1B, 4.523%, 02/25/2048 | | | 832,565 | | | | 0.2 | |
| 599,086 | | | (1) | | Sequoia Mortgage Trust 2018-CH1 B2B, 4.523%, 02/25/2048 | | | 617,772 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 145,460 | | | | | Structured Adjustable Rate Mortgage Loan Trust 2005-4 3A1, 3.737%, 03/25/2035 | | | 143,595 | | | | 0.0 | |
| 600,000 | | | (1),(4) | | Verus Securitization Trust 2017-SG1A B1, 3.615%, 11/25/2047 | | | 598,659 | | | | 0.2 | |
| 189,003 | | | | | WaMu Mortgage Pass Through Certificates Series 2006-AR12 2A3, 2.751%, 10/25/2036 | | | 175,044 | | | | 0.1 | |
| 500,820 | | | | | WaMu Mortgage Pass-Through Certificates Series 2005-AR10 1A3, 3.324%, 09/25/2035 | | | 507,649 | | | | 0.1 | |
| 166,573 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR10 1A1, 3.273%, 09/25/2036 | | | 162,154 | | | | 0.0 | |
| 29,218 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR12 1A1, 3.323%, 10/25/2036 | | | 28,545 | | | | 0.0 | |
| 202,250 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR14 1A3, 3.021%, 11/25/2036 | | | 194,214 | | | | 0.1 | |
| 777,267 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR14 1A4, 3.021%, 11/25/2036 | | | 746,383 | | | | 0.2 | |
| 98,545 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR16 3A1, 3.071%, 12/25/2036 | | | 96,310 | | | | 0.0 | |
| 108,022 | | | | | WaMu Mortgage Pass-Through Certificates Series 2006-AR8 1A4, 3.303%, 08/25/2046 | | | 102,263 | | | | 0.0 | |
| 180,623 | | | | | WaMu Mortgage Pass-Through Certificates Series 2007-HY2 1A1, 3.254%, 12/25/2036 | | | 174,013 | | | | 0.1 | |
| 18,845 | | | | | WaMu Mortgage Pass-Through Certificates Series 2007-HY4 1A1, 2.917%, 04/25/2037 | | | 17,213 | | | | 0.0 | |
| 101,384 | | | | | WaMu Mortgage Pass-Through Certificates Series 2007-HY7 2A2, 3.163%, 07/25/2037 | | | 84,816 | | | | 0.0 | |
| 1,023,075 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-10 2A3, 2.772%, (US0001M + 0.900%), 11/25/2035 | | | 840,405 | | | | 0.2 | |
| 191,662 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-11 A1, 5.750%, 01/25/2036 | | | 174,670 | | | | 0.1 | |
| 253,060 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-8 1A2, 5.500%, 10/25/2035 | | | 243,222 | | | | 0.1 | |
| 1,155,841 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2006-5 2CB2, 2.472%, (US0001M + 0.600%), 07/25/2036 | | | 700,795 | | | | 0.2 | |
| 1,230,309 | | | | | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2006-AR6 2A, 2.243%, (12MTA + 0.960%), 08/25/2046 | | | 933,494 | | | | 0.3 | |
| 73,040 | | | | | Wells Fargo Alternative Loan 2007-PA2 2A1, 2.302%, (US0001M + 0.430%), 06/25/2037 | | | 61,498 | | | | 0.0 | |
| 645,282 | | | | | Wells Fargo Mortgage Backed Securities 2006-8 A15, 6.000%, 07/25/2036 | | | 651,401 | | | | 0.2 | |
| 829,937 | | | | | Wells Fargo Mortgage Backed Securities 2006-8 A18, 6.000%, 07/25/2036 | | | 837,807 | | | | 0.2 | |
| 1,065,793 | | | | | Wells Fargo Mortgage Backed Securities 2006-AR12 1A1, 3.754%, 09/25/2036 | | | 1,067,099 | | | | 0.3 | |
| 633,212 | | | | | Wells Fargo Mortgage Backed Securities 2006-AR17 A1, 3.631%, 10/25/2036 | | | 620,762 | | | | 0.2 | |
| 42,868 | | | | | Wells Fargo Mortgage Backed Securities 2006-AR6 3A1, 3.760%, 03/25/2036 | | | 41,533 | | | | 0.0 | |
| 120,003 | | | | | Wells Fargo Mortgage Backed Securities 2006-AR7 2A1, 3.410%, 05/25/2036 | | | 122,490 | | | | 0.0 | |
| 127,537 | | | | | Wells Fargo Mortgage Backed Securities 2006-AR7 2A4, 3.410%, 05/25/2036 | | | 130,181 | | | | 0.0 | |
| 615,728 | | | | | Wells Fargo Mortgage Backed Securities 2007-3 AE, 2.109%, 04/25/2037 | | | 551,259 | | | | 0.2 | |
| 390,606 | | | | | Wells Fargo Mortgage Backed Securities 2007-AR7 A1, 3.714%, 12/28/2037 | | | 381,056 | | | | 0.1 | |
| 761,257 | | | (1) | | WinWater Mortgage Loan Trust 2015-5 B4, 3.798%, 08/20/2045 | | | 737,122 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | Total Collateralized Mortgage Obligations | | | | | | | | |
| | | | (Cost $46,035,103) | | | 48,262,769 | | | | 12.8 | |
| | | | | | | | | | | | | | |
U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.0% | |
| | | | | | Federal National Mortgage Association: 0.0%(8) | |
| 9,292 | | | | | 5.500%, 10/01/2039 | | | 10,193 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Obligations | | | | | | | | |
| | | | (Cost $10,071) | | | 10,193 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
BANK LOANS: 14.8% | |
| | | | | | Aerospace & Defense: 0.3% | |
| 150,000 | | | | | Geo Group, Inc. (The) 2017 Term Loan B, 4.130%, (US0003M + 2.250%), 03/22/2024 | | | 150,619 | | | | 0.0 | |
| 300,000 | | | | | Maxar Technologies Ltd. Term Loan B, 4.630%, (US0003M + 2.750%), 10/04/2024 | | | 301,179 | | | | 0.1 | |
| 300,000 | | | | | TransDigm, Inc. 2017 Extended Term Loan F, 4.773%, (US0003M + 2.750%), 06/09/2023 | | | 301,500 | | | | 0.1 | |
| 249,124 | | | | | TransDigm, Inc. 2018 Term Loan G, 4.707%, (US0003M + 2.500%), 08/22/2024 | | | 250,231 | | | | 0.1 | |
| | | | | | | | | 1,003,529 | | | | 0.3 | |
| | | | | | | | | | | | | | |
| | | | | | Auto Components: 0.0% | |
| 148,500 | | | | | Broadstreet Partners, Inc. 2017 Term Loan B, 5.627%, (US0003M + 3.750%), 11/08/2023 | | | 150,635 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | | | Automotive: 0.6% | |
| 150,000 | | | | | American Axle and Manufacturing, Inc. Term Loan B, 4.130%, (US0001M + 2.250%), 04/06/2024 | | | 150,797 | | | | 0.0 | |
| 150,000 | | | | | Belron Finance US LLC USD Term Loan B, 4.294%, (US0003M + 2.500%), 11/07/2024 | | | 151,125 | | | | 0.0 | |
| 149,250 | | | | | Bright Bidco B.V. 2018 Term Loan B, 5.728%, (US0003M + 3.500%), 06/30/2024 | | | 151,644 | | | | 0.0 | |
| 300,000 | | | | | Dealer Tire, LLC 2017 Term Loan B, 5.677%, (US0003M + 3.250%), 12/22/2021 | | | 303,930 | | | | 0.1 | |
| 244,347 | | | | | Dynacast International LLC Term Loan B, 5.552%, (US0003M + 3.250%), 01/28/2022 | | | 246,179 | | | | 0.1 | |
| 399,625 | | | | | Gates Global LLC 2017 USD Repriced Term Loan B, 5.052%, (US0003M + 2.750%), 04/01/2024 | | | 402,348 | | | | 0.1 | |
| 300,000 | | | | | KAR Auction Services, Inc. Term Loan B5, 4.813%, (US0003M + 2.500%), 03/09/2023 | | | 302,063 | | | | 0.1 | |
| 163,780 | | | | | Mavis Tire Express Services Corp. 2018 1st Lien Term Loan, 5.562%, (US0003M + 3.250%), 03/20/2025 | | | 163,985 | | | | 0.1 | |
| 26,220 | | | | | Mavis Tire Express Services Corp. 2018 Delayed Draw Term Loan, 5.562%, (US0003M + 3.250%), 03/20/2025 | | | 26,252 | | | | 0.0 | |
| 242,618 | | | | | NN, Inc. 2016 Term Loan B, 5.627%, (US0003M + 3.750%), 10/19/2022 | | | 244,286 | | | | 0.1 | |
| 148,843 | | | | | Superior Industries International, Inc. 1st Lien Term Loan, 6.377%, (US0003M + 4.500%), 05/22/2024 | | | 150,703 | | | | 0.0 | |
| 149,250 | | | | | Truck Hero, Inc. 1st Lien Term Loan, 6.223%, (US0003M + 4.000%), 04/21/2024 | | | 150,388 | | | | 0.0 | |
| | | | | | | | | 2,443,700 | | | | 0.6 | |
| | | | | | | | | | | | | | |
| | | | | | Building & Development: 0.4% | |
| 300,000 | | | | | American Builders & Contractors Supply Co., Inc. 2017 Term Loan B, 4.377%, (US0003M + 2.500%), 10/31/2023 | | | 301,083 | | | | 0.1 | |
| 148,310 | | | | | Capital Automotive L.P. 2017 1st Lien Term Loan, 4.380%, (US0003M + 2.500%), 03/24/2024 | | | 149,329 | | | | 0.0 | |
| 137,723 | | | | | Clark Equipment Company 2018 Term Loan B, 4.302%, (US0003M + 2.000%), 05/18/2024 | | | 137,981 | | | | 0.0 | |
| 149,625 | | | | | Core & Main LP 2017 Term Loan B, 5.116%, (US0003M + 3.000%), 08/01/2024 | | | 150,397 | | | | 0.1 | |
| 180,000 | | | | | Ply Gem Industries, Inc. 2018 Term Loan, (US0003M + 3.000%), 03/28/2025 | | | 179,100 | | | | 0.0 | |
| 150,000 | | | | | Quikrete HLDGS Inc Term Loan, 4.627%, (US0003M + 2.750%), 11/15/2023 | | | 150,844 | | | | 0.1 | |
| 149,625 | | | | | Werner Co. 2017 Term Loan, 5.882%, (US0003M + 4.000%), 07/24/2024 | | | 151,495 | | | | 0.1 | |
| 148,504 | | | | | Wilsonart LLC 2017 Term Loan B, 5.560%, (US0003M + 3.250%), 12/19/2023 | | | 149,445 | | | | 0.0 | |
| 147,384 | | | | | Zekelman Industries, Inc. Term Loan B, 4.999%, (US0003M + 2.750%), 06/14/2021 | | | 148,361 | | | | 0.0 | |
| | | | | | | | | 1,518,035 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Business Equipment & Services: 1.6% | |
| 298,498 | | | | | AlixPartners, LLP 2017 Term Loan B, 5.052%, (US0003M + 3.000%), 04/04/2024 | | | 300,177 | | | | 0.1 | |
| 150,000 | | | | | Allflex Holdings III, Inc. New 1st Lien Term Loan, 5.138%, (US0003M + 3.250%), 07/20/2020 | | | 151,156 | | | | 0.1 | |
| 150,000 | | | | | American Traffic Solutions, Inc. 2018 1st Lien Term Loan, 5.767%, (US0003M + 3.750%), 02/28/2025 | | | 151,500 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 100,000 | | | | | American Traffic Solutions, Inc. 2018 2nd Lien Term Loan, 9.398%, (US0003M + 7.750%), 02/23/2026 | | | 101,625 | | | | 0.0 | |
| 147,188 | | | | | Array Canada Inc. Term Loan B, 6.693%, (US0003M + 5.000%), 02/10/2023 | | | 148,659 | | | | 0.0 | |
| 149,625 | | | | | Ascend Learning, LLC 2017 Term Loan B, 4.877%, (US0003M + 3.250%), 07/12/2024 | | | 150,264 | | | | 0.0 | |
| 149,250 | | | | | ASP MCS Acquisition Corp. Term Loan B, 6.627%, (US0003M + 4.750%), 05/18/2024 | | | 151,302 | | | | 0.1 | |
| 150,000 | | | | | Big Ass Fans, LLC Term Loan, 6.552%, (US0003M + 4.250%), 05/21/2024 | | | 151,547 | | | | 0.1 | |
| 148,133 | | | | | Camelot UK Holdco Limited 2017 Repriced Term Loan, 5.127%, (US0003M + 3.250%), 10/03/2023 | | | 149,217 | | | | 0.0 | |
| 149,625 | | | | | GTCR Valor Companies, Inc. USD 2017 Term Loan B1, 5.127%, (US0003M + 3.250%), 06/16/2023 | | | 151,063 | | | | 0.1 | |
| 149,250 | | | | | Colorado Buyer Inc Term Loan B, 4.780%, (US0003M + 3.000%), 05/01/2024 | | | 149,608 | | | | 0.0 | |
| 135,484 | | | | | DG Investment Intermediate Holdings 2, Inc. 2018 1st Lien Term Loan, 5.302%, (US0003M + 3.000%), 02/03/2025 | | | 135,371 | | | | 0.0 | |
| 14,516 | | | | | DG Investment Intermediate Holdings 2, Inc. 2018 Delayed Draw Term Loan, 1.500%, (US0003M + 3.000%), 02/03/2025 | | | 14,504 | �� | | | 0.0 | |
| 148,125 | | | | | DTI Holdco, Inc. 2018 Term Loan B, 6.998%, (US0003M + 4.750%), 10/02/2023 | | | 148,218 | | | | 0.0 | |
| 141,917 | | | | | EIG Investors Corp. 2017 Term Loan, 5.956%, (US0003M + 4.000%), 02/09/2023 | | | 143,171 | | | | 0.0 | |
| 150,000 | | | | | Element Materials Technology Group US Holdings Inc 2017 USD Term Loan B, 5.802%, (US0003M + 3.500%), 06/28/2024 | | | 151,031 | | | | 0.1 | |
| 150,000 | | | | | Engineered Machinery Holdings, Inc. USD 1st Lien Term Loan, 5.552%, (US0003M + 3.250%), 07/19/2024 | | | 150,281 | | | | 0.0 | |
| 148,875 | | | | | EVO PAYMENTS INTERNATIONAL TERM LOAN B, 5.880%, (US0003M + 4.000%), 12/22/2023 | | | 150,503 | | | | 0.0 | |
| 127,506 | | | | | Garda World Security Corporation 2017 Term Loan, 5.511%, (US0003M + 3.000%), 05/24/2024 | | | 129,004 | | | | 0.0 | |
| 150,000 | | | | | GreenSky Holdings, LLC 2018 Term Loan B, 5.562%, (US0003M + 3.500%), 03/29/2025 | | | 150,938 | | | | 0.1 | |
| 150,000 | | | | | IQOR US Inc. Term Loan B, 6.695%, (US0003M + 5.000%), 04/01/2021 | | | 150,469 | | | | 0.0 | |
| 244,406 | | | | | KUEHG Corp.. 2017 1st Lien Term Loan, 6.052%, (US0003M + 3.750%), 08/13/2022 | | | 246,430 | | | | 0.1 | |
| 150,000 | | | | | Learning Care Group, Inc. 2018 1st Lien Term Loan, 5.562%, (US0003M + 3.250%), 03/13/2025 | | | 151,500 | | | | 0.1 | |
| 100,000 | | | | | Learning Care Group, Inc. 2018 2nd Lien Term Loan, 9.812%, (US0003M + 7.500%), 03/13/2026 | | | 101,500 | | | | 0.0 | |
| 149,625 | | | | | NeuStar, Inc. 2018 Term Loan B4, 5.377%, (US0003M + 3.500%), 08/08/2024 | | | 150,420 | | | | 0.0 | |
| 100,000 | | | | | NeuStar, Inc. 2nd Lien Term Loan, 10.302%, (US0003M + 8.000%), 08/08/2025 | | | 100,813 | | | | 0.0 | |
| 150,000 | | | | | PI US MergerCo, Inc. USD 2017 1st Lien Term Loan, 5.358%, (US0003M + 3.500%), 12/20/2024 | | | 150,750 | | | | 0.0 | |
| 149,625 | | | | | Peak 10, Inc. 2017 1st Lien Term Loan, 5.802%, (US0003M + 4.000%), 08/01/2024 | | | 150,242 | | | | 0.0 | |
| 130,213 | | | | | Pre-Paid Legal Services, Inc. 1st Lien Term Loan, 7.127%, (US0003M + 5.250%), 07/01/2019 | | | 130,782 | | | | 0.0 | |
| 150,000 | | | | | PricewaterhouseCoopers LLP 2018 Term Loan, 5.562%, (US0003M + 3.750%), 03/15/2025 | | | 150,750 | | | | 0.0 | |
| 150,000 | | | | | Prometric Holdings, Inc. 1st Lien Term Loan, 4.770%, (US0003M + 3.000%), 01/29/2025 | | | 151,172 | | | | 0.1 | |
| 149,625 | | | | | Red Ventures, LLC 1st Lien Term Loan, 5.877%, (US0003M + 4.000%), 11/08/2024 | | | 151,215 | | | | 0.1 | |
| 150,000 | | | | | Research Now Group, Inc. 2017 1st Lien Term Loan, 7.864%, (US0003M + 5.500%), 12/20/2024 | | | 148,500 | | | | 0.0 | |
| 245,625 | | | | | Solera Holdings, Inc. USD Term Loan B, 4.627%, (US0001M + 2.750%), 03/03/2023 | | | 246,489 | | | | 0.1 | |
| 150,000 | | | | | Spin Holdco Inc. 2017 Term Loan B, 5.083%, (US0003M + 3.750%), 11/14/2022 | | | 151,063 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 149,625 | | | | | Staples, Inc. 2017 Term Loan B, 5.787%, (US0003M + 4.000%), 09/12/2024 | | | 148,503 | | | | 0.0 | |
| 149,250 | | | | | SurveyMonkey Inc. 2017 Term Loan, 6.810%, (US0003M + 4.500%), 04/13/2024 | | | 149,623 | | | | 0.0 | |
| 149,250 | | | | | Switch, Ltd. 2017 Term Loan B, 4.127%, (US0003M + 2.250%), 06/27/2024 | | | 150,299 | | | | 0.0 | |
| 143,574 | | | | | TMK Hawk Parent Corp. 2017 1st Lien Term Loan, 5.150%, (US0003M + 3.500%), 08/28/2024 | | | 144,621 | | | | 0.0 | |
| 6,426 | | | | | TriMark USA, LLC Delayed Draw Term Loan, 4.987%, (US0003M + 4.000%), 08/28/2024 | | | 6,473 | | | | 0.0 | |
| 165,000 | | | | | West Corporation 2017 Term Loan, 5.877%, (US0003M + 4.000%), 10/10/2024 | | | 166,478 | | | | 0.1 | |
| 195,000 | | | | | West Corporation 2018 Term Loan B1, (US0003M + 3.500%), 10/10/2024 | | | 194,756 | | | | 0.1 | |
| | | | | | | | | 6,221,987 | | | | 1.6 | |
| | | | | | | | | | | | | | |
| | | | | | Cable & Satellite Television: 0.4% | |
| 300,000 | | | | | CSC Holdings, LLC 2018 Term Loan B, 4.277%, (US0003M + 2.500%), 01/25/2026 | | | 300,422 | | | | 0.1 | |
| 248,875 | | | | | Radiate Holdco, LLC 1st Lien Term Loan, 4.877%, (US0003M + 3.000%), 02/01/2024 | | | 247,771 | | | | 0.1 | |
| 148,129 | | | | | Telesat Canada Term Loan B4, 5.310%, (US0003M + 3.000%), 11/17/2023 | | | 148,993 | | | | 0.0 | |
| 300,000 | | | | | UPC Financing Partnership USD Term Loan AR, 4.277%, (US0003M + 2.500%), 01/15/2026 | | | 301,286 | | | | 0.1 | |
| 150,000 | | | | | Virgin Media Bristol LLC 2017 USD Term Loan, 4.277%, (US0003M + 2.500%), 01/15/2026 | | | 150,937 | | | | 0.0 | |
| 247,505 | | | | | WideOpenWest Finance LLC 2017 Term Loan B, 5.104%, (US0003M + 3.250%), 08/18/2023 | | | 242,168 | | | | 0.1 | |
| | | | | | | | | 1,391,577 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Chemicals: 0.0% | |
| 149,625 | | | | | HB Fuller - TL B 1L, 4.072%, (US0003M + 2.250%), 10/20/2024 | | | 150,573 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | | | Chemicals & Plastics: 0.7% | |
| 84,479 | | | | | Allnex (Luxembourg) & Cy S.C.A. 2016 USD Term Loan B2, 5.206%, (US0003M + 3.250%), 09/13/2023 | | | 85,166 | | | | 0.0 | |
| 63,646 | | | | | Allnex USA, Inc. USD Term Loan B3, 5.206%, (US0003M + 3.250%), 09/13/2023 | | | 64,163 | | | | 0.0 | |
| 149,250 | | | | | Alpha 3 B.V. 2017 Term Loan B1, 5.302%, (US0003M + 3.000%), 01/31/2024 | | | 150,556 | | | | 0.0 | |
| 150,000 | | | | | Avantor, Inc. 2017 1st Lien Term Loan, 5.877%, (US0003M + 4.000%), 11/21/2024 | | | 151,750 | | | | 0.1 | |
| 150,000 | | | | | Diamond (BC) B.V. USD Term Loan, 4.994%, (US0003M + 3.000%), 09/06/2024 | | | 150,000 | | | | 0.0 | |
| 242,496 | | | | | Emerald Performance Materials, LLC New 1st Lien Term Loan, 5.377%, (US0001M + 3.500%), 08/01/2021 | | | 245,314 | | | | 0.1 | |
| 150,000 | | | | | Encapsys, LLC 1st Lien Term Loan, 5.127%, (US0003M + 3.250%), 11/07/2024 | | | 151,406 | | | | 0.1 | |
| 57,399 | | | | | Klockner-Pentaplast of America, Inc. USD 2017 Term Loan B2, 6.127%, (US0003M + 4.250%), 06/30/2022 | | | 55,462 | | | | 0.0 | |
| 92,727 | | | | | KMG Chemicals Inc. Term Loan B, 4.627%, (US0003M + 2.750%), 06/15/2024 | | | 93,597 | | | | 0.0 | |
| 58,685 | | | | | Kraton Polymers, LLC 2018 USD Term Loan, 4.802%, (US0003M + 2.500%), 03/05/2025 | | | 59,153 | | | | 0.0 | |
| 150,000 | | | | | MacDermid, Inc. USD Term Loan B6, 4.877%, (US0003M + 3.000%), 06/07/2023 | | | 151,219 | | | | 0.1 | |
| 300,000 | | | | | PQ Corporation 2018 Term Loan B, 4.291%, (US0003M + 2.500%), 02/08/2025 | | | 301,366 | | | | 0.1 | |
| 150,000 | | | | | Prince Minerals, Inc. 2018 1st Lien Term Loan, 5.812%, (US0003M + 3.500%), 03/20/2025 | | | 151,219 | | | | 0.1 | |
| 300,000 | | | | | Trinseo Materials Operating S.C.A. 2017 Term Loan, 4.377%, (US0003M + 2.500%), 09/06/2024 | | | 301,937 | | | | 0.1 | |
| 45,349 | | | | | Tronox Blocked Borrower LLC Term Loan B, 5.302%, (US0003M + 3.000%), 09/22/2024 | | | 45,788 | | | | 0.0 | |
| 104,651 | | | | | Tronox Finance LLC Term Loan B, 5.302%, (US0003M + 3.000%), 09/22/2024 | | | 105,665 | | | | 0.0 | |
| 129,918 | | | | | Univar Inc. 2017 USD Term Loan B, 4.377%, (US0003M + 2.500%), 07/01/2024 | | | 130,903 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 149,625 | | | | | Venator Materials Corporation Term Loan B, 4.877%, (US0003M + 3.000%), 08/08/2024 | | | 150,607 | | | | 0.0 | |
| | | | | | | | | 2,545,271 | | | | 0.7 | |
| | | | | | | | | | | | | | |
| | | | | | Containers & Glass Products: 0.7% | |
| 150,000 | | | | | Albea Beauty Holdings S.A 2018 USD Term Loan, 5.312%, (US0003M + 3.000%), 04/22/2024 | | | 150,891 | | | | 0.1 | |
| 244,438 | | | | | Berlin Packaging LLC 2017 Term Loan B, 5.030%, (US0003M + 3.250%), 10/01/2021 | | | 245,813 | | | | 0.1 | |
| 149,250 | | | | | BWAY Holding Company 2017 Term Loan B, 4.963%, (US0003M + 3.250%), 04/03/2024 | | | 150,167 | | | | 0.0 | |
| 149,625 | | | | | Consolidated Container Company LLC 2017 1st Lien Term Loan, 4.877%, (US0003M + 3.000%), 05/22/2024 | | | 150,747 | | | | 0.0 | |
| 148,875 | | | | | Flex Acquisition Company, Inc. 1st Lien Term Loan, 4.695%, (US0003M + 3.000%), 12/29/2023 | | | 149,759 | | | | 0.0 | |
| 144,540 | | | | | Milacron LLC Amended Term Loan B, 4.377%, (US0003M + 2.500%), 09/28/2023 | | | 145,172 | | | | 0.0 | |
| 225,887 | | | | | SIG Combibloc Group AG, 4.627%, (US0001M + 2.750%), 03/13/2022 | | | 227,460 | | | | 0.1 | |
| 150,000 | | | | | Plastipak Packaging, Inc. Term Loan B, 4.630%, (US0003M + 2.750%), 10/14/2024 | | | 151,000 | | | | 0.1 | |
| 148,500 | | | | | Proampac PG Borrower LLC First Lien Term Loan, 5.303%, (US0003M + 3.500%), 11/18/2023 | | | 150,047 | | | | 0.0 | |
| 496,881 | | | | | Reynolds Group Holdings Inc. USD 2017 Term Loan, 4.627%, (US0003M + 3.000%), 02/05/2023 | | | 499,987 | | | | 0.1 | |
| 150,000 | | | | | Ring Container Technologies Group, LLC 1st Lien Term Loan, 4.627%, (US0003M + 2.750%), 10/31/2024 | | | 150,656 | | | | 0.0 | |
| 300,000 | | | | | Tekni-Plex, Inc. 2017 USD Term Loan B1, 5.127%, (US0003M + 3.250%), 10/17/2024 | | | 301,312 | | | | 0.1 | |
| 175,000 | | | | | Titan Acquisition Limited 2018 Term Loan B, 5.312%, (US0003M + 3.500%), 03/28/2025 | | | 174,850 | | | | 0.1 | |
| 13,602 | | | | | TricorBraun Holdings, Inc. 1st Lien Delayed Draw Term Loan, 5.976%, (US0003M + 3.750%), 11/30/2023 | | | 13,709 | | | | 0.0 | |
| 135,000 | | | | | TricorBraun Holdings, Inc. 1st Lien Term Loan, 6.056%, (US0003M + 3.750%), 11/30/2023 | | | 136,055 | | | | 0.0 | |
| | | | | | | | | 2,797,625 | | | | 0.7 | |
| | | | | | | | | | | | | | |
| | | | | | Cosmetics/Toiletries: 0.1% | |
| 300,000 | | | | | Wellness Merger Sub, Inc. 1st Lien Term Loan, 7.052%, (US0003M + 4.750%), 06/30/2024 | | | 304,078 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | | | Drugs: 0.2% | |
| 175,000 | | | | | Amneal Pharmaceuticals LLC 2018 Term Loan B, 5.812%, (US0003M + 3.500%), 03/07/2025 | | | 175,474 | | | | 0.0 | |
| 162,437 | | | | | Amneal Pharmaceuticals LLC New Term Loan, 5.377%, (US0003M + 3.500%), 11/01/2019 | | | 162,893 | | | | 0.0 | |
| 300,000 | | | | | Endo Luxembourg Finance Company I S.a r.l. 2017 Term Loan B, 6.188%, (US0003M + 4.250%), 04/29/2024 | | | 300,337 | | | | 0.1 | |
| 209,173 | | | | | Horizon Pharma, Inc. 2017 1st Lien Term Loan, 5.125%, (US0003M + 3.250%), 03/29/2024 | | | 210,698 | | | | 0.1 | |
| | | | | | | | | 849,402 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | | | Ecological Services & Equipment: 0.2% | |
| 125,667 | | | | | ADS Waste Holdings Inc Term Loan, 3.981%, (US0003M + 2.250%), 11/10/2023 | | | 126,199 | | | | 0.0 | |
| 150,000 | | | | | Gopher Resource, LLC 1st Lien Term Loan, 5.478%, (US0003M + 3.250%), 03/06/2025 | | | 151,453 | | | | 0.1 | |
| 300,000 | | | | | Wrangler Buyer Corp. Term Loan B, 4.877%, (US0003M + 3.000%), 09/27/2024 | | | 302,188 | | | | 0.1 | |
| | | | | | | | | 579,840 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | | | Electronics/Electrical: 1.5% | |
| 148,875 | | | | | Aptean, Inc. 2017 1st Lien Term Loan, 6.560%, (US0003M + 4.250%), 12/20/2022 | | | 149,387 | | | | 0.0 | |
| 150,000 | | | | | Barracuda Networks, Inc. 1st Lien Term Loan, 5.061%, (US0003M + 3.250%), 02/12/2025 | | | 150,820 | | | | 0.1 | |
| 149,625 | | | | | BMC Software Finance, Inc. USD 2017 1st Lien Term Loan, 5.127%, (US0003M + 3.250%), 09/10/2022 | | | 150,441 | | | | 0.1 | |
| 222,208 | | | | | Compuware Corporation Term Loan B3, 5.130%, (US0003M + 3.500%), 12/15/2021 | | | 225,194 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 242,192 | | | | | Epicor Software Corporation 1st Lien Term Loan, 5.130%, (US0003M + 3.750%), 06/01/2022 | | | 243,537 | | | | 0.1 | |
| 150,000 | | | | | SkillSoft Corporation 1st Lien Term Loan, 6.398%, (US0003M + 4.750%), 04/28/2021 | | | 145,462 | | | | 0.0 | |
| 147,714 | | | | | Eze Castle Software Inc. 2017 1st Lien Term Loan, 5.037%, (US0003M + 3.000%), 04/06/2020 | | | 149,068 | | | | 0.0 | |
| 148,504 | | | | | Genesys Telecom Holdings, U.S., Inc. 2018 USD Term Loan B, 5.802%, (US0003M + 3.500%), 12/01/2023 | | | 149,606 | | | | 0.0 | |
| 300,000 | | | | | Go Daddy Operating Company, LLC 2017 Repriced Term Loan, 4.127%, (US0003M + 2.250%), 02/15/2024 | | | 301,167 | | | | 0.1 | |
| 288,895 | | | | | Hyland Software, Inc. 2017 1st Lien Term Loan, 5.127%, (PRIME + 3.250%), 07/01/2022 | | | 292,778 | | | | 0.1 | |
| 149,623 | | | | | Infor (US), Inc. Term Loan B6, 4.627%, (US0003M + 2.750%), 02/01/2022 | | | 150,184 | | | | 0.0 | |
| 126,531 | | | | | Informatica Corporation 2018 USD Term Loan, 5.127%, (US0003M + 3.250%), 08/05/2022 | | | 127,401 | | | | 0.0 | |
| 168,302 | | | | | Kronos Incorporated 2017 Term Loan B, 4.880%, (US0003M + 3.000%), 11/01/2023 | | | 169,471 | | | | 0.1 | |
| 150,000 | | | | | M/A-COM Technology Solutions Holdings, Inc. 2017 Add on Term Loan, 4.127%, (US0003M + 2.250%), 05/17/2024 | | | 148,156 | | | | 0.0 | |
| 20,637 | | | | | MA FinanceCo., LLC USD Term Loan B3, 4.627%, (US0001M + 2.750%), 06/21/2024 | | | 20,439 | | | | 0.0 | |
| 150,000 | | | | | Marketo, Inc. 2018 1st Lien Term Loan, 5.044%, (US0003M + 3.250%), 01/30/2025 | | | 149,883 | | | | 0.0 | |
| 379,625 | | | | | McAfee, LLC 2017 USD Term Loan B, 6.377%, (US0003M + 4.500%), 09/30/2024 | | | 383,955 | | | | 0.1 | |
| 149,625 | | | | | MH Sub I, LLC 2017 1st Lien Term Loan, 5.527%, (US0003M + 3.750%), 09/13/2024 | | | 149,952 | | | | 0.0 | |
| 150,000 | | | | | MH Sub I, LLC 2017 2nd Lien Term Loan, 9.277%, (US0003M + 7.500%), 09/15/2025 | | | 152,156 | | | | 0.1 | |
| 121,186 | | | | | Quest Software US Holdings Inc. 2017 Term Loan B, 7.272%, (US0003M + 5.500%), 10/31/2022 | | | 123,585 | | | | 0.0 | |
| 298,501 | | | | | Rackspace Hosting, Inc. 2017 Incremental 1st Lien Term Loan, 4.787%, (US0003M + 3.000%), 11/03/2023 | | | 297,871 | | | | 0.1 | |
| 149,611 | | | | | Rovi Solutions Corporation Term Loan B, 4.380%, (US0003M + 2.500%), 07/02/2021 | | | 150,702 | | | | 0.1 | |
| 148,500 | | | | | RP Crown Parent LLC Term Loan B, 4.877%, (US0003M + 3.500%), 10/12/2023 | | | 149,335 | | | | 0.0 | |
| 139,363 | | | | | Seattle Spinco, Inc. USD Term Loan B3, 4.627%, (US0003M + 2.750%), 06/21/2024 | | | 139,398 | | | | 0.0 | |
| 274,313 | | | | | SolarWinds Holdings, Inc. 2018 Term Loan B, 5.312%, (US0003M + 3.000%), 02/21/2024 | | | 275,873 | | | | 0.1 | |
| 102,664 | | | | | SS&C Technologies Holdings Europe S.A.R.L. 2018 Term Loan B4, 4.812%, (US0003M + 2.500%), 02/28/2025 | | | 103,314 | | | | 0.0 | |
| 237,336 | | | | | SS&C Technologies Inc. 2018 Term Loan B3, 4.812%, (US0003M + 2.500%), 02/28/2025 | | | 238,838 | | | | 0.1 | |
| 142,617 | | | | | Avast Software B.V. USD 2017 Term Loan B, 5.052%, (US0003M + 2.750%), 09/30/2023 | | | 143,642 | | | | 0.0 | |
| 149,625 | | | | | TTM Technologies, Inc. 2017 Term Loan, 4.377%, (US0003M + 2.500%), 09/28/2024 | | | 150,280 | | | | 0.0 | |
| 150,000 | | | | | TTM Technologies, Inc. 2018 Term Loan B, 4.517%, (US0003M + 2.500%), 09/27/2024 | | | 150,656 | | | | 0.1 | |
| 272,531 | | | | | Veritas Bermuda Ltd. USD Repriced Term Loan B, 6.802%, (US0003M + 4.500%), 01/27/2023 | | | 271,722 | | | | 0.1 | |
| 123,500 | | | | | Xperi Corporation 2018 Term Loan B1, 4.377%, (US0003M + 2.500%), 12/01/2023 | | | 124,175 | | | | 0.0 | |
| | | | | | | | | 5,728,448 | | | | 1.5 | |
| | | | | | | | | | | | | | |
| | | | | | Equipment Leasing: 0.0% | |
| 49,501 | | | | | Brand Energy & Infrastructure Services, Inc. 2017 Term Loan, 6.001%, (US0003M + 4.250%), 06/21/2024 | | | 49,968 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | | | Financial Intermediaries: 0.4% | |
| 138,000 | | | | | Blucora, Inc. 2017 Term Loan B, 4.877%, (US0003M + 3.000%), 05/22/2024 | | | 139,466 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 300,000 | | | | | Duff & Phelps Corporation 2017 Term Loan B, 5.552%, (US0003M + 3.250%), 02/13/2025 | | | 301,312 | | | | 0.1 | |
| 89,021 | | | | | Edelman Financial Group, The 2017 Term Loan B, 5.970%, (US0003M + 4.250%), 11/11/2024 | | | 90,152 | | | | 0.0 | |
| 150,000 | | | | | FinCo I LLC 2017 Term Loan B, 4.627%, (US0003M + 2.750%), 12/27/2022 | | | 151,913 | | | | 0.1 | |
| 245,641 | | | | | First Eagle Holdings, Inc. 2017 1st Lien Term Loan B, 5.302%, (US0003M + 3.000%), 12/01/2022 | | | 248,174 | | | | 0.1 | |
| 149,625 | | | | | Focus Financial Partners, LLC 2018 1st Lien Term Loan, 5.052%, (US0003M + 2.750%), 07/03/2024 | | | 150,467 | | | | 0.0 | |
| 300,000 | | | | | LPL Holdings, Inc. 2017 1st Lien Term Loan B, 4.473%, (US0003M + 2.250%), 09/23/2024 | | | 301,125 | | | | 0.1 | |
| | | | | | | | | 1,382,609 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Food Products: 0.4% | |
| 149,625 | | | | | Atkins Nutritionals Holdings II, Inc. 2017 Term Loan B, 5.294%, (US0003M + 3.500%), 07/07/2024 | | | 150,373 | | | | 0.0 | |
| 150,000 | | | | | CH Guenther & Son, Incorporated 2018 Term Loan B, 5.062%, (US0003M + 2.750%), 03/31/2025 | | | 151,008 | | | | 0.0 | |
| 244,275 | | | | | Del Monte Foods, Inc. 1st Lien Term Loan, 5.159%, (US0003M + 3.250%), 02/18/2021 | | | 210,484 | | | | 0.1 | |
| 300,000 | | | | | IRB Holding Corp 1st Lien Term Loan, 4.936%, (US0003M + 3.250%), 02/05/2025 | | | 303,437 | | | | 0.1 | |
| 300,000 | | | | | JBS USA, LLC 2017 Term Loan B, 4.678%, (US0003M + 2.500%), 10/30/2022 | | | 299,475 | | | | 0.1 | |
| 149,250 | | | | | NPC International, Inc. 1st Lien Term Loan, 5.377%, (US0003M + 3.500%), 04/19/2024 | | | 151,582 | | | | 0.1 | |
| 150,000 | | | | | Sigma Bidco B.V. 2018 USD Term Loan B, 5.312%, (US0003M + 3.000%), 02/23/2025 | | | 150,500 | | | | 0.0 | |
| | | | | | | | | 1,416,859 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Food Service: 0.4% | |
| 300,000 | | | | | 1011778 B.C. Unlimited Liability Company Term Loan B3, 4.294%, (US0003M + 2.250%), 02/16/2024 | | | 300,688 | | | | 0.1 | |
| 150,000 | | | | | Fogo de Chao Churrascaria Holdings LLC 2018 Term Loan, 6.812%, (US0003M + 4.500%), 03/21/2025 | | | 150,844 | | | | 0.0 | |
| 299,814 | | | | | Golden Nugget, Inc. 2017 Incremental Term Loan, 4.979%, (US0003M + 3.250%), 10/04/2023 | | | 302,719 | | | | 0.1 | |
| 150,000 | | | | | K-Mac Holdings Corp 2018 1st Lien Term Loan, 5.562%, (US0003M + 3.250%), 03/07/2025 | | | 150,984 | | | | 0.0 | |
| 100,000 | | | | | K-Mac Holdings Corp 2018 2nd Lien Term Loan, 9.062%, (US0003M + 6.750%), 03/06/2026 | | | 101,500 | | | | 0.0 | |
| 208,974 | | | | | Manitowoc Foodservice, Inc. Term Loan B, 4.627%, (US0003M + 3.000%), 03/03/2023 | | | 210,846 | | | | 0.1 | |
| 150,000 | | | | | Tacala, LLC 1st Lien Term Loan, 4.914%, (US0003M + 3.250%), 01/31/2025 | | | 151,031 | | | | 0.1 | |
| 100,000 | | | | | Tacala, LLC 2nd Lien Term Loan, 8.664%, (US0003M + 7.000%), 01/30/2026 | | | 102,250 | | | | 0.0 | |
| 147,750 | | | | | US Foods, Inc. 2016 Term Loan B, 4.377%, (US0003M + 2.750%), 06/27/2023 | | | 148,971 | | | | 0.0 | |
| | | | | | | | | 1,619,833 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Food/Drug Retailers: 0.3% | |
| 149,624 | | | | | Albertsons, LLC USD 2017 Term Loan B4, 4.627%, (US0001M + 2.750%), 08/25/2021 | | | 148,170 | | | | 0.0 | |
| 149,624 | | | | | Albertsons, LLC USD 2017 Term Loan B6, 4.956%, (US0003M + 3.000%), 06/22/2023 | | | 148,034 | | | | 0.0 | |
| 150,000 | | | | | EG Finco Limited 2018 USD Term Loan, 6.312%, (US0003M + 4.000%), 01/19/2025 | | | 150,063 | | | | 0.1 | |
| 150,000 | | | | | EG Group Limited 2018 USD Term Loan B, 6.017%, (US0003M + 4.000%), 01/19/2025 | | | 149,719 | | | | 0.1 | |
| 148,500 | | | | | Moran Foods LLC Term Loan, 7.877%, (US0003M + 6.000%), 12/05/2023 | | | 129,752 | | | | 0.0 | |
| 150,000 | | | | | Smart & Final Stores LLC 1st Lien Term Loan, 5.377%, (US0003M + 3.500%), 11/15/2022 | | | 148,375 | | | | 0.0 | |
| 111,937 | | | | | Supervalu Inc. 2017 Delayed Draw Term Loan, 5.377%, (US0003M + 3.500%), 06/08/2024 | | | 111,195 | | | | 0.0 | |
| 186,561 | | | | | Supervalu Inc. 2017 Term Loan B, 5.377%, (US0003M + 3.500%), 06/08/2024 | | | 185,325 | | | | 0.1 | |
| | | | | | | | | 1,170,633 | | | | 0.3 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| | | | | | Health Care: 1.7% | |
| 300,000 | | | | | Acadia Healthcare Company, Inc. 2018 Term Loan B4, 4.377%, (US0003M + 2.500%), 02/16/2023 | | | 302,906 | | | | 0.1 | |
| 148,477 | | | | | ADMI Corp. 2015 Term Loan B, 5.595%, (US0003M + 3.750%), 04/30/2022 | | | 149,158 | | | | 0.0 | |
| 300,000 | | | | | Air Medical Group Holdings, Inc. 2017 Term Loan B2, 6.562%, (US0003M + 4.250%), 09/07/2024 | | | 303,141 | | | | 0.1 | |
| 147,752 | | | | | Air Medical Group Holdings, Inc. 2018 Term Loan B1, 4.936%, (US0003M + 3.250%), 04/28/2022 | | | 148,548 | | | | 0.0 | |
| 147,516 | | | | | Air Methods Corporation 2017 Term Loan B, 5.802%, (US0003M + 3.500%), 04/21/2024 | | | 148,069 | | | | 0.0 | |
| 147,750 | | | | | ATI Holdings Acquisition, Inc. 2016 Term Loan, 5.204%, (US0003M + 3.500%), 05/10/2023 | | | 148,973 | | | | 0.0 | |
| 300,000 | | | | | Catalent Pharma Solutions Inc. USD Term Loan B, 4.127%, (US0001M + 2.750%), 05/20/2024 | | | 301,625 | | | | 0.1 | |
| 300,000 | | | | | Change Healthcare Holdings, Inc. 2017 Term Loan B, 4.627%, (US0001M + 2.750%), 03/01/2024 | | | 301,062 | | | | 0.1 | |
| 169,314 | | | | | CHG Healthcare Services Inc. 2017 1st Lien Term Loan B, 4.772%, (US0003M + 3.000%), 06/07/2023 | | | 170,972 | | | | 0.1 | |
| 149,250 | | | | | Commerce Merger Sub, Inc. 2017 1st Lien Term Loan, 5.302%, (US0003M + 3.250%), 06/28/2024 | | | 149,903 | | | | 0.0 | |
| 225,000 | | | | | Concentra Inc. 2018 1st Lien Term Loan, 4.530%, (US0003M + 2.750%), 06/01/2022 | | | 225,633 | | | | 0.1 | |
| 300,000 | | | | | Cotiviti Corporation Term Loan B, 4.560%, (US0003M + 2.500%), 09/28/2023 | | | 302,812 | | | | 0.1 | |
| 222,755 | | | | | ExamWorks Group, Inc. 2017 Term Loan, 5.127%, (US0003M + 3.250%), 07/27/2023 | | | 224,732 | | | | 0.1 | |
| 149,250 | | | | | Greenway Health, LLC 2017 1st Lien Term Loan, 6.550%, (US0003M + 4.250%), 02/14/2024 | | | 150,742 | | | | 0.1 | |
| 299,244 | | | | | Grifols Worldwide Operations USA, Inc. 2017 Acquisition Term Loan, 3.986%, (US0003M + 2.250%), 01/31/2025 | | | 300,600 | | | | 0.1 | |
| 149,616 | | | | | Jaguar Holding Company II 2017 Term Loan, 4.850%, (US0003M + 2.750%), 08/18/2022 | | | 150,290 | | | | 0.0 | |
| 132,061 | | | | | MPH Acquisition Holdings LLC 2016 Term Loan B, 5.052%, (US0003M + 2.750%), 06/07/2023 | | | 132,845 | | | | 0.0 | |
| 230,000 | | | | | NVA Holdings, Inc. Term Loan B3, 5.052%, (US0003M + 2.750%), 02/02/2025 | | | 230,719 | | | | 0.1 | |
| 57,291 | | | | | Onex TSG Holdings II Corp. 1st Lien Term Loan, 5.877%, (US0003M + 4.000%), 07/31/2022 | | | 56,395 | | | | 0.0 | |
| 149,625 | | | | | Parexel International Corporation Term Loan B, 4.627%, (US0003M + 2.750%), 09/27/2024 | | | 149,849 | | | | 0.0 | |
| 115,909 | | | | | Pearl Intermediate Parent LLC 2018 1st Lien Term Loan, 4.527%, (US0003M + 2.750%), 02/14/2025 | | | 115,004 | | | | 0.0 | |
| 34,091 | | | | | Pearl Intermediate Parent LLC 2018 Delayed Draw Term Loan, 1.000%, (US0003M + 2.750%), 02/14/2025 | | | 33,824 | | | | 0.0 | |
| 150,000 | | | | | PharMerica Corporation 1st Lien Term Loan, 5.211%, (US0003M + 3.500%), 12/06/2024 | | | 150,844 | | | | 0.1 | |
| 147,750 | | | | | nThrive, Inc. 2016 1st Lien Term Loan, 6.377%, (US0003M + 4.500%), 10/20/2022 | | | 148,350 | | | | 0.0 | |
| 149,622 | | | | | Press Ganey Holdings, Inc. 2017 1st Lien Term Loan, 4.877%, (US0003M + 3.000%), 10/21/2023 | | | 150,620 | | | | 0.0 | |
| 222,750 | | | | | Prospect Medical Holdings, Inc. 2018 Term Loan B, 7.188%, (US0003M + 5.500%), 02/22/2024 | | | 223,307 | | | | 0.1 | |
| 158,800 | | | | | Select Medical Corporation 2017 Term Loan B, 4.466%, (US0003M + 2.750%), 03/01/2021 | | | 159,892 | | | | 0.1 | |
| 163,763 | | | | | Sotera Health Holdings, LLC 2017 Term Loan B, 4.877%, (US0003M + 3.000%), 05/15/2022 | | | 164,445 | | | | 0.1 | |
| 149,625 | | | | | Surgery Center Holdings, Inc. 2017 Term Loan B, 5.130%, (US0001M + 3.250%), 09/02/2024 | | | 149,742 | | | | 0.0 | |
| 148,875 | | | | | Team Health Holdings, Inc. 1st Lien Term Loan, 4.627%, (US0003M + 2.750%), 02/06/2024 | | | 142,920 | | | | 0.0 | |
| 149,250 | | | | | Tecomet Inc. 2017 Repriced Term Loan, 5.283%, (US0003M + 3.750%), 05/01/2024 | | | 150,805 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 149,250 | | | | | U.S. Anesthesia Partners, Inc. 2017 Term Loan, 4.877%, (US0003M + 3.000%), 06/23/2024 | | | 150,183 | | | | 0.0 | |
| 245,000 | | | | | U.S. Renal Care, Inc. 2015 Term Loan B, 5.943%, (US0003M + 4.250%), 12/31/2022 | | | 246,455 | | | | 0.1 | |
| 78,431 | | | | | Vizient, Inc. 1st Lien Term Loan B, 4.398%, (US0001M + 3.500%), 02/13/2023 | | | 79,118 | | | | 0.0 | |
| 150,000 | | | | | Wink Holdco, Inc 1st Lien Term Loan B, 4.664%, (US0003M + 3.000%), 12/02/2024 | | | 149,625 | | | | 0.0 | |
| | | | | | | | | 6,264,108 | | | | 1.7 | |
| | | | | | | | | | | | | | |
| | | | | | Healthcare - Products: 0.0% | |
| 149,625 | | | | | Albany Molecular Research, Inc. 2017 1st Lien Term Loan, 5.127%, (US0003M + 3.750%), 08/30/2024 | | | 150,186 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | | | Home Furnishings: 0.1% | |
| 148,132 | | | | | Prime Security Services Borrower, LLC 2016 1st Lien Term Loan, 4.627%, (US0003M + 2.750%), 05/02/2022 | | | 149,439 | | | | 0.0 | |
| 149,625 | | | | | Global Appliance Inc. Term Loan B, 5.880%, (US0003M + 4.000%), 09/29/2024 | | | 152,055 | | | | 0.1 | |
| 149,611 | | | | | Hillman Group Inc. (The) Term Loan B, 5.802%, (US0003M + 3.500%), 06/30/2021 | | | 151,232 | | | | 0.0 | |
| | | | | | | | | 452,726 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | | | Industrial Equipment: 0.5% | |
| 131,617 | | | | | Columbus McKinnon Corporation 2018 Term Loan B, 4.802%, (US0003M + 2.500%), 01/31/2024 | | | 132,357 | | | | 0.0 | |
| 169,019 | | | | | Cortes NP Acquisition Corporation 2017 Term Loan B, 5.670%, (US0003M + 4.000%), 11/30/2023 | | | 170,388 | | | | 0.1 | |
| 217,062 | | | | | EWT Holdings III Corp. 2017 Repriced Term Loan, 5.302%, (US0003M + 3.000%), 12/20/2024 | | | 218,894 | | | | 0.1 | |
| 149,625 | | | | | ExGen Renewables IV, LLC Term Loan B, 4.990%, (US0003M + 3.000%), 11/28/2024 | | | 151,682 | | | | 0.1 | |
| 150,000 | | | | | Filtration Group Corporation 2018 1st Lien Term Loan, (US0003M + 3.000%), 03/27/2025 | | | 149,625 | | | | 0.0 | |
| 300,000 | | | | | Gardner Denver, Inc. 2017 USD Term Loan B, 5.052%, (US0003M + 2.750%), 07/30/2024 | | | 301,854 | | | | 0.1 | |
| 148,125 | | | | | Global Brass & Copper, Inc. 2016 Term Loan B, 5.188%, (US0003M + 3.250%), 07/18/2023 | | | 149,606 | | | | 0.0 | |
| 150,000 | | | | | Horizon Global Corporation 2018 Term Loan B, 7.017%, (US0003M + 5.000%), 02/06/2024 | | | 151,313 | | | | 0.0 | |
| 179,337 | | | | | Kenan Advantage Group, Inc. 2015 Term Loan, 4.877%, (US0003M + 3.000%), 07/31/2022 | | | 180,346 | | | | 0.1 | |
| 54,537 | | | | | Kenan Advantage Group, Inc. CAD Term Loan B, 4.877%, (US0003M + 3.000%), 07/31/2022 | | | 54,843 | | | | 0.0 | |
| 75,267 | | | | | Rexnord LLC 2017 Term Loan B, 4.111%, (US0003M + 2.250%), 08/21/2024 | | | 75,773 | | | | 0.0 | |
| 150,000 | | | | | Robertshaw US Holding Corp 2018 1st Lien Term Loan, 5.438%, (US0003M + 3.500%), 02/19/2025 | | | 151,500 | | | | 0.0 | |
| | | | | | | | | 1,888,181 | | | | 0.5 | |
| | | | | | | | | | | | | | |
| | | | | | Insurance: 0.7% | |
| 198,503 | | | | | Acrisure, LLC 2017 Term Loan B, 5.991%, (US0003M + 4.250%), 11/22/2023 | | | 201,852 | | | | 0.1 | |
| 244,365 | | | | | Alliant Holdings I, Inc. 2015 Term Loan B, 5.127%, (US0003M + 3.250%), 08/12/2022 | | | 246,130 | | | | 0.1 | |
| 149,622 | | | | | AmWINS Group, Inc. 2017 Term Loan B, 4.587%, (US0001M + 2.750%), 01/25/2024 | | | 150,623 | | | | 0.0 | |
| 149,625 | | | | | Applied Systems, Inc. 2017 1st Lien Term Loan, 5.552%, (US0003M + 3.250%), 09/19/2024 | | | 150,981 | | | | 0.0 | |
| 245,763 | | | | | AssuredPartners, Inc. 2017 1st Lien Add-On Term Loan, 5.377%, (US0003M + 3.500%), 10/22/2024 | | | 246,623 | | | | 0.1 | |
| 149,250 | | | | | CCC Information Services, Inc. 2017 1st Lien Term Loan, 4.880%, (US0003M + 3.000%), 04/27/2024 | | | 149,887 | | | | 0.0 | |
| 150,000 | | | | | CCC Information Services, Inc. 2017 2nd Lien Term Loan, 8.627%, (US0003M + 6.750%), 04/27/2025 | | | 153,125 | | | | 0.1 | |
| 148,005 | | | | | CH Hold Corp. 1st Lien Term Loan, 4.877%, (US0003M + 3.000%), 02/01/2024 | | | 149,161 | | | | 0.0 | |
| 244,292 | | | | | Hub International Limited Term Loan B, 4.840%, (US0003M + 3.000%), 10/02/2020 | | | 245,819 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 148,500 | | | | | NFP Corp. Term Loan B, 4.877%, (US0003M + 3.500%), 01/08/2024 | | | 149,075 | | | | 0.0 | |
| 160,000 | | | | | Sedgwick Claims Management Services, Inc. 2017 1st Lien Term Loan, 4.444%, (US0003M + 2.750%), 02/26/2021 | | | 160,080 | | | | 0.1 | |
| 299,611 | | | | | Sedgwick, Inc. 1st Lien Term Loan, 4.627%, (US0003M + 2.750%), 03/01/2021 | | | 299,761 | | | | 0.1 | |
| 149,625 | | | | | USI, Inc. 2017 Repriced Term Loan, 5.302%, (US0003M + 3.000%), 05/16/2024 | | | 150,233 | | | | 0.0 | |
| 148,125 | | | | | VF Holding Corp Reprice Term Loan, 5.127%, (US0003M + 3.250%), 06/30/2023 | | | 149,514 | | | | 0.0 | |
| | | | | | | | | 2,602,864 | | | | 0.7 | |
| | | | | | | | | | | | | | |
| | | | | | Leisure Good/Activities/Movies: 0.5% | |
| 149,612 | | | | | 24 Hour Fitness Worldwide, Inc. New Term Loan B, 6.052%, (US0003M + 3.750%), 05/28/2021 | | | 150,454 | | | | 0.0 | |
| 146,890 | | | | | ClubCorp Club Operations, Inc. 2017 Incremental Term Loan, 5.552%, (US0003M + 3.250%), 09/18/2024 | | | 148,018 | | | | 0.0 | |
| 225,000 | | | | | Crown Finance US, Inc. 2018 USD Term Loan, 4.377%, (US0003M + 2.500%), 02/28/2025 | | | 224,986 | | | | 0.1 | |
| 148,877 | | | | | Equinox Holdings, Inc. 2017 1st Lien Term Loan, 4.877%, (US0003M + 3.000%), 03/08/2024 | | | 150,086 | | | | 0.0 | |
| 150,062 | | | | | Fitness International, LLC Term Loan B, 5.377%, (US0003M + 3.250%), 07/01/2020 | | | 151,600 | | | | 0.1 | |
| 150,000 | | | | | GVC Holdings PLC 2018 USD Term Loan, 4.812%, (US0003M + 2.500%), 03/15/2024 | | | 150,234 | | | | 0.0 | |
| 244,403 | | | | | LTF Merger Sub, Inc. 2017 Term Loan B, 4.734%, (US0003M + 2.750%), 06/10/2022 | | | 245,133 | | | | 0.1 | |
| 244,342 | | | | | NEP/NCP Holdco, Inc. Incremental Term Loan, 4.898%, (US0003M + 3.250%), 07/21/2022 | | | 245,614 | | | | 0.1 | |
| 133,063 | | | | | SRAM, LLC 2017 Incremental Term Loan, 5.131%, (US0003M + 3.250%), 03/15/2024 | | | 133,396 | | | | 0.0 | |
| 149,621 | | | | | UFC Holdings, LLC 1st Lien Term Loan, 5.130%, (US0003M + 3.250%), 08/18/2023 | | | 150,627 | | | | 0.1 | |
| 130,000 | | | | | Winnebago Industries, Inc. 2017 Term Loan, 5.547%, (US0003M + 3.500%), 11/08/2023 | | | 130,975 | | | | 0.0 | |
| | | | | | | | | 1,881,123 | | | | 0.5 | |
| | | | | | | | | | | | | | |
| | | | | | Lodging & Casinos: 0.7% | |
| 244,361 | | | | | Amaya Holdings B.V. Repriced Term Loan B, 5.802%, (US0003M + 3.500%), 08/01/2021 | | | 245,873 | | | | 0.1 | |
| 149,250 | | | | | Belmond Interfin Ltd. Dollar Term Loan, 4.627%, (US0003M + 2.750%), 07/03/2024 | | | 149,996 | | | | 0.0 | |
| 475,000 | | | | | Caesars Resort Collection, LLC 2017 1st Lien Term Loan B, 4.627%, (US0003M + 2.750%), 12/22/2024 | | | 478,774 | | | | 0.1 | |
| 300,000 | | | | | CityCenter Holdings, LLC 2017 Term Loan B, 4.377%, (US0003M + 2.500%), 04/18/2024 | | | 301,711 | | | | 0.1 | |
| 150,000 | | | | | Eldorado Resorts LLC 2017 Term Loan B, 4.128%, (US0003M + 2.250%), 04/17/2024 | | | 150,656 | | | | 0.1 | |
| 285,979 | | | | | ESH Hospitality, Inc. 2017 Term Loan B, 4.127%, (US0003M + 2.250%), 08/30/2023 | | | 287,990 | | | | 0.1 | |
| 149,250 | | | | | Everi Payments Inc. Term Loan B, 5.494%, (US0003M + 3.500%), 05/09/2024 | | | 150,509 | | | | 0.0 | |
| 150,000 | | | | | Golden Entertainment, Inc. 2017 1st Lien Term Loan, 4.880%, (US0003M + 3.000%), 10/20/2024 | | | 150,375 | | | | 0.0 | |
| 149,616 | | | | | La Quinta Intermediate Holdings LLC Term Loan B, 4.470%, (US0003M + 2.750%), 04/14/2021 | | | 150,177 | | | | 0.0 | |
| 409,001 | | | | | Scientific Games International, Inc. 2018 Term Loan B5, 4.722%, (US0003M + 2.750%), 08/14/2024 | | | 410,983 | | | | 0.1 | |
| 300,000 | | | | | Station Casinos LLC 2016 Term Loan B, 4.380%, (US0003M + 2.500%), 06/08/2023 | | | 301,218 | | | | 0.1 | |
| | | | | | | | | 2,778,262 | | | | 0.7 | |
| | | | | | | | | | | | | | |
| | | | | | Oil & Gas: 0.2% | |
| 150,000 | | | | | Crestwood Holdings LLC 2018 Term Loan B, 9.186%, (US0003M + 7.500%), 02/28/2023 | | | 149,625 | | | | 0.1 | |
| 30,056 | | | | | Lucid Energy Group II LLC 2018 1st Lien Term Loan, 4.786%, (US0003M + 3.000%), 02/17/2025 | | | 29,963 | | | | 0.0 | |
| 300,000 | | | | | Medallion Midland Acquisition, LLC 1st Lien Term Loan, 5.127%, (US0003M + 3.250%), 10/30/2024 | | | 300,750 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 29,020 | | | | | MEG Energy Corp. 2017 Term Loan B, 5.810%, (US0003M + 3.500%), 12/31/2023 | | | 29,081 | | | | 0.0 | |
| 104,236 | | | | | Southcross Energy Partners, L.P. 1st Lien Term Loan, 6.552%, (US0003M + 4.250%), 08/04/2021 | | | 102,868 | | | | 0.0 | |
| 61,059 | | | | | Summit Midstream Partners Holdings, LLC Term Loan B, 7.877%, (US0003M + 6.000%), 05/13/2022 | | | 61,975 | | | | 0.0 | |
| | | | | | | | | 674,262 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | | | Publishing: 0.1% | |
| 1,645 | | | | | McGraw-Hill Global Education Holdings, LLC 2016 Term Loan B, 5.569%, (US0003M + 4.000%), 05/04/2022 | | | 1,626 | | | | 0.0 | |
| 300,000 | | | | | Meredith Corporation Term Loan B, 4.877%, (US0003M + 3.250%), 01/31/2025 | | | 302,146 | | | | 0.1 | |
| | | | | | | | | 303,772 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | | | Radio & Television: 0.4% | |
| 117,159 | | | | | CBS Radio Inc. 2017 Term Loan B, 4.623%, (US0003M + 2.750%), 11/17/2024 | | | 117,782 | | | | 0.0 | |
| 148,500 | | | | | A-L Parent LLC 2016 1st Lien Term Loan, 5.130%, (US0003M + 3.250%), 12/01/2023 | | | 150,171 | | | | 0.0 | |
| 150,000 | | | | | Lions Gate Entertainment Corp. 2018 Term Loan B, 4.562%, (US0003M + 2.250%), 03/24/2025 | | | 150,867 | | | | 0.1 | |
| 33,552 | | | | | Mission Broadcasting, Inc. 2017 Term Loan B2, 4.164%, (US0003M + 2.500%), 01/17/2024 | | | 33,703 | | | | 0.0 | |
| 260,619 | | | | | Nexstar Broadcasting, Inc. 2017 Term Loan B2, 4.164%, (US0003M + 2.500%), 01/17/2024 | | | 261,792 | | | | 0.1 | |
| 420,000 | | | | | Sinclair Television Group Inc. 2017 Term Loan B, 4.517%, (US0003M + 2.500%), 12/12/2024 | | | 422,675 | | | | 0.1 | |
| 266,325 | | | | | Univision Communications Inc. Term Loan C5, 4.627%, (US0003M + 2.750%), 03/15/2024 | | | 262,538 | | | | 0.1 | |
| | | | | | | | | 1,399,528 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Retailers (Except Food & Drug): 0.4% | |
| 149,625 | | | | | Bass Pro Group, LLC Term Loan B, 6.877%, (US0003M + 5.000%), 09/25/2024 | | | 148,372 | | | | 0.0 | |
| 173,688 | | | | | BJs Wholesale Club, Inc. 2017 1st Lien Term Loan, 5.191%, (US0003M + 3.750%), 02/03/2024 | | | 173,767 | | | | 0.1 | |
| 149,609 | | | | | Harbor Freight Tools USA, Inc. 2018 Term Loan B, 4.377%, (US0003M + 2.500%), 08/18/2023 | | | 149,993 | | | | 0.0 | |
| 121,078 | | | | | Jo-Ann Stores, Inc. 2016 Term Loan, 6.551%, (US0003M + 5.000%), 10/20/2023 | | | 120,548 | | | | 0.0 | |
| 145,425 | | | | | Leslies Poolmart, Inc. 2016 Term Loan, 5.278%, (US0003M + 3.500%), 08/16/2023 | | | 146,425 | | | | 0.0 | |
| 215,241 | | | | | Mens Wearhouse, Inc. (The) Term Loan B, 5.202%, (US0003M + 3.500%), 06/18/2021 | | | 216,082 | | | | 0.1 | |
| 104,986 | | | | | National Vision, Inc. 2017 Repriced Term Loan, 4.627%, (US0003M + 2.750%), 11/20/2024 | | | 105,150 | | | | 0.0 | |
| 150,000 | | | | | Party City Holdings Inc. 2018 Term Loan B, 4.487%, (US0003M + 2.750%), 08/19/2022 | | | 150,771 | | | | 0.0 | |
| 245,000 | | | | | Petco Animal Supplies, Inc. 2017 Term Loan B, 4.772%, (US0003M + 3.000%), 01/26/2023 | | | 180,585 | | | | 0.1 | |
| 150,000 | | | | | Shutterfly, Inc. Term Loan B2, 4.767%, (US0003M + 2.750%), 08/17/2024 | | | 151,125 | | | | 0.1 | |
| | | | | | | | | 1,542,818 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | | | Software: 0.1% | |
| 413,299 | | | | | Almonde, Inc. - Term Loan B 1st Lien, 5.484%, (US0003M + 3.500%), 06/13/2024 | | | 413,442 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | | | Steel: 0.0% | |
| 150,000 | | | | | GrafTech Finance, Inc. 2018 Term Loan B, 5.240%, (US0003M + 3.500%), 02/12/2025 | | | 150,188 | | | | 0.0 | |
| | | | | | | | | | | | | | |
| | | | | | Surface Transport: 0.2% | |
| 148,875 | | | | | AI Mistral Holdco Limited 2017 Term Loan B, 4.877%, (US0003M + 3.000%), 03/09/2024 | | | 148,456 | | | | 0.0 | |
| 155,000 | | | | | Navistar International Corporation 2017 1st Lien Term Loan B, 5.210%, (US0003M + 3.500%), 11/06/2024 | | | 156,308 | | | | 0.1 | |
| 187,864 | | | | | OSG Bulk Ships, Inc OBS Term Loan, 6.040%, (US0003M + 4.250%), 08/05/2019 | | | 181,289 | | | | 0.1 | |
| 150,000 | | | | | PODS, LLC Term Loan B3, 4.711%, (US0003M + 3.000%), 12/06/2024 | | | 151,187 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 150,000 | | | | | XPO Logistics, Inc. 2018 Term Loan B, 3.920%, (US0003M + 2.000%), 02/24/2025 | | | 150,722 | | | | 0.0 | |
| | | | | | | | | 787,962 | | | | 0.2 | |
| | | | | | | | | | | | | | |
| | | | | | Telecommunications: 0.6% | |
| 299,250 | | | | | Altice Financing SA USD 2017 1st Lien Term Loan, 4.470%, (US0003M + 2.750%), 01/31/2026 | | | 294,294 | | | | 0.1 | |
| 237,971 | | | | | Asurion LLC 2017 Term Loan B4, 4.627%, (US0003M + 2.750%), 08/04/2022 | | | 239,631 | | | | 0.1 | |
| 190,000 | | | | | Avaya, Inc. Exit Term Loan B, 6.536%, (US0003M + 4.750%), 12/15/2024 | | | 191,682 | | | | 0.1 | |
| 160,000 | | | | | CenturyLink, Inc. 2017 Term Loan B, 4.627%, (US0003M + 2.750%), 01/31/2025 | | | 157,750 | | | | 0.1 | |
| 148,318 | | | | | Consolidated Communications, Inc. 2016 Term Loan B, 4.880%, (US0003M + 3.000%), 10/04/2023 | | | 146,446 | | | | 0.0 | |
| 149,140 | | | | | Global Tel*Link Corporation 1st Lien Term Loan, 6.302%, (US0003M + 4.000%), 05/23/2020 | | | 150,134 | | | | 0.0 | |
| 150,000 | | | | | Level 3 Financing Inc. 2017 Term Loan B, 4.111%, (US0003M + 2.250%), 02/22/2024 | | | 150,387 | | | | 0.0 | |
| 150,000 | | | | | Securus Technologies Holdings, Inc. 2017 1st Lien Term Loan, 6.377%, (US0003M + 4.500%), 11/01/2024 | | | 151,819 | | | | 0.0 | |
| 300,000 | | | | | Sprint Communications, Inc. 1st Lien Term Loan B, 4.438%, (US0003M + 2.500%), 02/02/2024 | | | 300,422 | | | | 0.1 | |
| 150,000 | | | | | Syniverse Holdings, Inc. 2018 1st Lien Term Loan, 6.718%, (US0003M + 5.000%), 03/09/2023 | | | 151,992 | | | | 0.0 | |
| 225,000 | | | | | Telenet International Finance S.a.r.l. USD Term Loan AL, 4.277%, (US0003M + 2.500%), 03/01/2026 | | | 226,366 | | | | 0.1 | |
| | | | | | | | | 2,160,923 | | | | 0.6 | |
| | | | | | | | | | | | | | |
| | | | | | Utilities: 0.4% | |
| 375,000 | | | | | Calpine Construction Finance Company, L.P. 2017 Term Loan B, 4.377%, (US0003M + 2.500%), 01/15/2025 | | | 376,507 | | | | 0.1 | |
| 131,783 | | | | | Dynegy Inc. 2017 Term Loan C2, 4.604%, (US0003M + 2.750%), 02/07/2024 | | | 132,772 | | | | 0.0 | |
| 150,000 | | | | | EFS Cogen Holdings I LLC 2016 Term Loan B, 5.560%, (US0003M + 3.500%), 06/28/2023 | | | 151,294 | | | | 0.1 | |
| 138,716 | | | | | Helix Gen Funding, LLC Term Loan B, 5.627%, (US0003M + 3.750%), 06/02/2024 | | | 140,238 | | | | 0.0 | |
| 147,074 | | | | | Nautilus Power, LLC Term Loan B, 6.127%, (US0003M + 4.250%), 05/16/2024 | | | 149,372 | | | | 0.0 | |
| 201,536 | | | | | TEX Operations Co. LLC Exit Term Loan B, 4.377%, (US0003M + 2.500%), 08/04/2023 | | | 203,148 | | | | 0.1 | |
| 35,714 | | | | | TEX Operations Co. LLC Exit Term Loan C, 4.377%, (US0003M + 2.500%), 08/04/2023 | | | 36,000 | | | | 0.0 | |
| 149,622 | | | | | Vistra Operations Company LLC 2016 Term Loan B2, 4.075%, (US0003M + 2.250%), 12/14/2023 | | | 150,704 | | | | 0.1 | |
| | | | | | | | | 1,340,035 | | | | 0.4 | |
| | | | | | | | | | | | | | |
| | | | Total Bank Loans | | | | | | | | |
| | | | (Cost $55,843,518) | | | 56,114,982 | | | | 14.8 | |
| | | | | | | | | | | | | | |
U.S. TREASURY OBLIGATIONS: 3.8% | |
| | | | | | U.S. Treasury Bonds: 0.1% | |
| 292,000 | | | | | 2.750%, 11/15/2047 | | | 278,586 | | | | 0.1 | |
| 10,000 | | | | | 3.500%, 02/15/2039 | | | 10,972 | | | | 0.0 | |
| | | | | | | | | 289,558 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | | | U.S. Treasury Notes: 3.7% | |
| 4,140,000 | | | | | 1.625%, 03/31/2019 | | | 4,119,540 | | | | 1.1 | |
| 1,556,000 | | | | | 2.250%, 02/29/2020 | | | 1,555,249 | | | | 0.4 | |
| 1,162,000 | | | | | 2.250%, 03/31/2020 | | | 1,161,377 | | | | 0.3 | |
| 2,918,000 | | | | | 2.375%, 03/15/2021 | | | 2,916,514 | | | | 0.8 | |
| 2,828,000 | | | | | 2.500%, 03/31/2023 | | | 2,818,521 | | | | 0.7 | |
| 1,598,000 | | | | | 2.625%, 02/28/2023 | | | 1,602,491 | | | | 0.4 | |
| | | | | | | | | 14,173,692 | | | | 3.7 | |
| | | | | | | | | | | | | | |
| | | | Total U.S. Treasury Obligations | | | | | | | | |
| | | | (Cost $14,444,962) | | | 14,463,250 | | | | 3.8 | |
| | | | | | | | | | | | | | |
FOREIGN GOVERNMENT BONDS: 8.4% | |
ARS | 7,100,000 | | | | | Republic of Argentina, 21.200%, 09/19/2018 | | | 347,767 | | | | 0.1 | |
| 1,075,000 | | | | | Argentine Republic Government International Bond, 6.875%, 01/26/2027 | | | 1,097,575 | | | | 0.3 | |
CLP | 2,500,000,000 | | | | | Bonos de la Tesoreria de la Republica en pesos, 4.500%, 03/01/2026 | | | 4,162,229 | | | | 1.1 | |
CLP | 1,490,000,000 | | | | | Bonos de la Tesoreria de la Republica en pesos, 5.000%, 03/01/2035 | | | 2,474,706 | | | | 0.7 | |
BRL | 6,058,000 | | | | | Brazil Notas do Tesouro Nacional Serie F, 10.000%, 01/01/2029 | | | 1,880,167 | | | | 0.5 | |
BRL | 1,115,000 | | | | | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/2021 | | | 354,729 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
BRL | 7,838,000 | | | | | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/2023 | | | 2,479,342 | | | | 0.7 | |
BRL | 4,308,000 | | | | | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/2025 | | | 1,353,746 | | | | 0.4 | |
| 1,000,000 | | | | | Brazilian Government International Bond, 6.000%, 04/07/2026 | | | 1,102,000 | | | | 0.3 | |
| 250,000 | | | | | Egypt Government International Bond, 7.500%, 01/31/2027 | | | 271,167 | | | | 0.1 | |
EUR | 550,000 | | | | | Hungary Government International Bond, 1.750%, 10/10/2027 | | | 691,512 | | | | 0.2 | |
IDR | 12,000,000,000 | | | | | Indonesia Treasury Bond, 7.500%, 08/15/2032 | | | 894,498 | | | | 0.2 | |
IDR | 1,079,000,000 | | | | | Indonesia Treasury Bond, 8.375%, 09/15/2026 | | | 86,700 | | | | 0.0 | |
IDR | 1,153,000,000 | | | | | Indonesia Treasury Bond, 11.000%, 09/15/2025 | | | 104,541 | | | | 0.0 | |
| 500,000 | | | (1) | | KSA Sukuk Ltd., 3.628%, 04/20/2027 | | | 481,320 | | | | 0.1 | |
MXN | 9,000,000 | | | | | Mexican Bonos, 6.500%, 06/10/2021 | | | 485,337 | | | | 0.1 | |
MXN | 12,900,000 | | | | | Mexican Bonos, 7.750%, 05/29/2031 | | | 726,778 | | | | 0.2 | |
PEN | 509,000 | | | (1) | | Peru Government Bond, 6.150%, 08/12/2032 | | | 174,198 | | | | 0.0 | |
PEN | 1,188,000 | | | | | Peru Government Bond, 6.900%, 08/12/2037 | | | 425,128 | | | | 0.1 | |
PEN | 5,285,000 | | | | | Peru Government Bond, 6.950%, 08/12/2031 | | | 1,933,096 | | | | 0.5 | |
| 750,000 | | | (1) | | Perusahaan Penerbit SBSN Indonesia III, 4.150%, 03/29/2027 | | | 743,437 | | | | 0.2 | |
| 500,000 | | | | | Republic of Ecuador, 7.875%, 01/23/2028 | | | 483,225 | | | | 0.1 | |
EUR | 110,000 | | | | | Romanian Government International Bond, 3.375%, 02/08/2038 | | | 135,686 | | | | 0.0 | |
RUB | 10,510,000 | | | | | Russian Federal Bond - OFZ, 7.000%, 01/25/2023 | | | 188,186 | | | | 0.1 | |
RUB | 102,540,000 | | | | | Russian Federal Bond - OFZ, 7.000%, 08/16/2023 | | | 1,832,877 | | | | 0.5 | |
RUB | 84,770,000 | | | | | Russian Federal Bond - OFZ, 7.500%, 08/18/2021 | | | 1,529,212 | | | | 0.4 | |
RUB | 185,536,000 | | | | | Russian Federal Bond - OFZ, 7.600%, 07/20/2022 | | | 3,385,848 | | | | 0.9 | |
RUB | 63,500,000 | | | | | Russian Federal Bond - OFZ, 8.500%, 09/17/2031 | | | 1,245,936 | | | | 0.3 | |
TRY | 822,000 | | | | | Turkey Government Bond, 9.200%, 09/22/2021 | | | 184,181 | | | | 0.1 | |
| 450,000 | | | | | Ukraine Government International Bond, 7.375%, 09/25/2032 | | | 435,150 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | Total Foreign Government Bonds | | | | | | | | |
| | | | (Cost $31,346,961) | | | 31,690,274 | | | | 8.4 | |
| | | | | | | | | | | | | | |
ASSET-BACKED SECURITIES: 15.1% | |
| | | | | | Automobile Asset-Backed Securities: 0.1% | |
| 166,000 | | | | | Santander Drive Auto Receivables Trust 2015-1 D, 3.240%, 04/15/2021 | | | 166,829 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | | | Home Equity Asset-Backed Securities: 0.8% | |
| 621,673 | | | | | GSAA Home Equity Trust 2006-3 A3, 2.172%, (US0001M + 0.300%), 03/25/2036 | | | 468,723 | | | | 0.1 | |
| 896,528 | | | | | GSAA Home Equity Trust 2006-4 4A3, 3.591%, 03/25/2036 | | | 748,083 | | | | 0.2 | |
| 1,376,190 | | | | | GSAA Trust 2006-7 AF2, 5.995%, 03/25/2046 | | | 951,641 | | | | 0.3 | |
| 1,041,978 | | | | | Nomura Home Equity Loan, Inc. Home Equity Loan Trust Series 2007-1 2A4A, 2.102%, (US0001M + 0.230%), 02/25/2037 | | | 949,961 | | | | 0.2 | |
| | | | | | | | | 3,118,408 | | | | 0.8 | |
| | | | | | | | | | | | | | |
| | | | | | Other Asset-Backed Securities: 12.7% | |
| 190,000 | | | (1) | | ALM VII R-2 Ltd. 2013-7R2A A2R, 3.722%, (US0003M + 2.000%), 10/15/2027 | | | 190,831 | | | | 0.0 | |
| 140,000 | | | (1) | | American Homes 4 Rent 2015-SFR2 C, 4.691%, 10/17/2045 | | | 148,571 | | | | 0.0 | |
| 130,000 | | | (1) | | Apidos CLO XI 2012-11A BR, 3.681%, (US0003M + 1.950%), 01/17/2028 | | | 130,466 | | | | 0.0 | |
| 120,000 | | | (1) | | Apidos CLO XVII 2014-17A A2R, 3.581%, (US0003M + 1.850%), 04/17/2026 | | | 120,033 | | | | 0.0 | |
| 200,000 | | | (1) | | Apidos CLO XVII 2014-17A BR, 4.231%, (US0003M + 2.500%), 04/17/2026 | | | 200,086 | | | | 0.0 | |
| 500,000 | | | (1) | | Ares XXIX CLO Ltd. 2014-1A BR, 4.022%, (US0003M + 2.300%), 04/17/2026 | | | 500,177 | | | | 0.1 | |
| 1,350,000 | | | (1) | | ArrowMark Colorado Holdings 2017-7A C, 3.504%, (US0003M + 1.900%), 07/15/2030 | | | 1,353,402 | | | | 0.3 | |
| 1,250,000 | | | (1) | | Atrium CDO Corp. 12A DR, 4.545%, (US0003M + 2.800%), 04/22/2027 | | | 1,249,996 | | | | 0.3 | |
| 1,500,000 | | | (1) | | Atrium XIII 13A C, 3.241%, (US0003M + 1.800%), 11/21/2030 | | | 1,507,950 | | | | 0.4 | |
| 250,000 | | | (1) | | Avery Point IV CLO Ltd. 2014-1A CR, 4.095%, (US0003M + 2.350%), 04/25/2026 | | | 250,173 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 1,500,000 | | | (1) | | Babson CLO Ltd. 2013-IIA C, 4.984%, (US0003M + 3.250%), 01/18/2025 | | | 1,500,798 | | | | 0.4 | |
| 250,000 | | | (1) | | Babson CLO Ltd. 2014-IA BR, 3.945%, (US0003M + 2.200%), 07/20/2025 | | | 250,103 | | | | 0.1 | |
| 750,000 | | | (1) | | Benefit Street Partners CLO VII Ltd. 2015-VIIA BR, 3.284%, (US0003M + 1.550%), 07/18/2027 | | | 749,100 | | | | 0.2 | |
| 500,000 | | | (1) | | Benefit Street Partners CLO VII Ltd. 2015-VIIA CR, 4.134%, (US0003M + 2.400%), 07/18/2027 | | | 499,998 | | | | 0.1 | |
| 250,000 | | | (1) | | Blue Hill CLO Ltd. 2013-1A C1R, 4.122%, (US0003M + 2.400%), 01/15/2026 | | | 250,033 | | | | 0.1 | |
| 280,000 | | | (1) | | BlueMountain CLO 2012-2A BR, 3.785%, (US0003M + 1.900%), 11/20/2028 | | | 281,079 | | | | 0.1 | |
| 1,000,000 | | | (1) | | BlueMountain CLO 2013-2A CR, 3.695%, (US0003M + 1.950%), 10/22/2030 | | | 996,343 | | | | 0.3 | |
| 1,000,000 | | | (1) | | BlueMountain CLO 2014-2A DR, 4.745%, (US0003M + 3.000%), 07/20/2026 | | | 1,000,589 | | | | 0.3 | |
| 180,000 | | | (1) | | BlueMountain CLO 2014-4A B1R, 3.834%, (US0003M + 1.850%), 11/30/2026 | | | 180,166 | | | | 0.0 | |
| 160,000 | | | (1) | | BlueMountain CLO 2014-4A CR, 4.534%, (US0003M + 2.550%), 11/30/2026 | | | 160,694 | | | | 0.0 | |
| 1,000,000 | | | (1) | | BlueMountain CLO 2013-3A DR, 4.660%, (US0003M + 2.900%), 10/29/2025 | | | 1,000,503 | | | | 0.3 | |
| 350,000 | | | (1) | | Bristol Park CLO Ltd. 2016-1A B, 3.622%, (US0003M + 1.900%), 04/15/2029 | | | 352,230 | | | | 0.1 | |
| 150,000 | | | (1) | | Carlyle Global Market Strategies CLO Ltd. 2012-4A BR, 3.645%, (US0003M + 1.900%), 01/20/2029 | | | 150,732 | | | | 0.0 | |
| 250,000 | | | (1) | | Carlyle Global Market Strategies CLO Ltd. 2014-3A BR, 3.910%, (US0003M + 2.150%), 07/27/2026 | | | 250,126 | | | | 0.1 | |
| 250,000 | | | (1) | | Cedar Funding II CLO Ltd. 2013-1A CR, 4.407%, (US0003M + 2.350%), 06/09/2030 | | | 251,175 | | | | 0.1 | |
| 500,000 | | | (1) | | Cedar Funding IV CLO Ltd. 2014-4A CR, 3.995%, (US0003M + 2.250%), 07/23/2030 | | | 501,044 | | | | 0.1 | |
| 600,000 | | | (1) | | CIFC Funding 2013-2A A3LR, 3.684%, (US0003M + 1.950%), 10/18/2030 | | | 605,025 | | | | 0.2 | |
| 1,000,000 | | | (1) | | CIFC Funding 2014-3A DR, 4.895%, (US0003M + 3.150%), 07/22/2026 | | | 1,000,493 | | | | 0.3 | |
| 250,000 | | | (1) | | CIFC Funding 2017-2A C, 4.095%, (US0003M + 2.350%), 04/20/2030 | | | 251,706 | | | | 0.1 | |
| 1,400,000 | | | (1) | | CIFC Funding 2017-5A A1, 2.543%, (US0003M + 1.180%), 11/16/2030 | | | 1,410,902 | | | | 0.4 | |
| 1,100,000 | | | | | Countrywide Asset-Backed Certificates 2005-AB2 M1, 2.577%, (US0001M + 0.705%), 09/25/2035 | | | 1,050,075 | | | | 0.3 | |
| 1,094,500 | | | (1) | | Domino's Pizza Master Issuer LLC 2017-1A A23, 4.118%, 07/25/2047 | | | 1,108,245 | | | | 0.3 | |
| 280,000 | | | (1) | | Dryden 33 Senior Loan Fund 2014-33A BR, 3.572%, (US0003M + 1.850%), 10/15/2028 | | | 281,223 | | | | 0.1 | |
| 250,000 | | | (1) | | Dryden Senior Loan Fund 2014-34A CR, 3.872%, (US0003M + 2.150%), 10/15/2026 | | | 250,887 | | | | 0.1 | |
| 250,000 | | | (1) | | Dryden Senior Loan Fund 2017-47A C, 3.922%, (US0003M + 2.200%), 04/15/2028 | | | 251,809 | | | | 0.1 | |
| 600,000 | | | (1) | | Dryden XXV Senior Loan Fund 2012-25A CRR, 3.570%, (US0003M + 1.850%), 10/15/2027 | | | 601,011 | | | | 0.2 | |
| 1,150,000 | | | (1) | | Dryden XXV Senior Loan Fund 2012-25A DRR, 4.720%, (US0003M + 3.000%), 10/15/2027 | | | 1,153,050 | | | | 0.3 | |
| 250,000 | | | (1) | | Flatiron CLO Ltd. 2013-1A A2R, 3.381%, (US0003M + 1.650%), 01/17/2026 | | | 250,037 | | | | 0.1 | |
| 250,000 | | | (1) | | Flatiron CLO Ltd. 2013-1A BR, 4.081%, (US0003M + 2.350%), 01/17/2026 | | | 250,082 | | | | 0.1 | |
| 550,000 | | | (1) | | Gilbert Park CLO Ltd. 2017-1A C, 3.315%, (US0003M + 1.950%), 10/15/2030 | | | 551,652 | | | | 0.1 | |
| 100,000 | | | (1) | | Invitation Homes Trust 2014-SFR2 E, 4.958%, (US0001M + 3.150%), 06/17/2032 | | | 100,338 | | | | 0.0 | |
| 250,000 | | | (1) | | Jay Park CLO Ltd. 2016-1A B, 4.145%, (US0003M + 2.400%), 10/20/2027 | | | 251,129 | | | | 0.1 | |
| 250,000 | | | (1) | | Madison Park Funding XIII Ltd. 2014-13A CR, 3.889%, (US0003M + 2.150%), 01/19/2025 | | | 250,128 | | | | 0.1 | |
| 1,700,000 | | | (1) | | Neuberger Berman Loan Advisers CLO 2017-26A C, 3.142%, (US0003M + 1.750%), 10/18/2030 | | | 1,700,741 | | | | 0.4 | |
| 700,000 | | | (1) | | Ocean Trails CLO IV 2013-4A DR, 4.820%, (US0003M + 3.000%), 08/13/2025 | | | 700,869 | | | | 0.2 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 600,000 | | | (1) | | Octagon Investment Partners 33 Ltd. 2017-1A B, 3.251%, (US0003M + 1.850%), 01/20/2031 | | | 599,986 | | | | 0.1 | |
| 250,000 | | | (1) | | Octagon Investment Partners XIX Ltd. 2014-1A CR, 3.822%, (US0003M + 2.100%), 04/15/2026 | | | 250,022 | | | | 0.1 | |
| 500,000 | | | (1) | | Octagon Investment Partners XVI Ltd. 2013-1A D, 5.081%, (US0003M + 3.350%), 07/17/2025 | | | 500,215 | | | | 0.1 | |
| 1,545,000 | | | (1) | | OHA Credit Partners IX Ltd 2013-9A DR, 5.045%, (US0003M + 3.300%), 10/20/2025 | | | 1,546,191 | | | | 0.4 | |
| 1,500,000 | | | (1) | | OHA Credit Partners XIV Ltd. 2017-14A C, 3.383%, (US0003M + 1.800%), 01/21/2030 | | | 1,493,316 | | | | 0.4 | |
| 1,080,000 | | | (1) | | OHA Loan Funding Ltd. 2015-1A BR, 3.639%, (US0003M + 1.800%), 08/15/2029 | | | 1,083,394 | | | | 0.3 | |
| 340,000 | | | (1) | | OHA Loan Funding Ltd. 2016-1A B1, 3.545%, (US0003M + 1.800%), 01/20/2028 | | | 341,381 | | | | 0.1 | |
| 300,000 | | | (1) | | Palmer Square CLO 2013-2A BR Ltd., 3.981%, (US0003M + 2.250%), 10/17/2027 | | | 301,131 | | | | 0.1 | |
| 500,000 | | | (1) | | Palmer Square CLO 2015-1A BR Ltd., 4.442%, (US0003M + 2.550%), 05/21/2029 | | | 503,654 | | | | 0.1 | |
| 300,000 | | | (1) | | Palmer Square CLO 2015-2A BR Ltd., 4.145%, (US0003M + 2.400%), 07/20/2030 | | | 302,552 | | | | 0.1 | |
| 685,000 | | | (1) | | Palmer Square Loan Funding 2017-1A D Ltd., 6.572%, (US0003M + 4.850%), 10/15/2025 | | | 675,061 | | | | 0.2 | |
| 1,000,000 | | | (1) | | Palmer Square Loan Funding 2018-1A D Ltd., 6.173%, (US0003M + 3.950%), 04/15/2026 | | | 999,977 | | | | 0.3 | |
| 1,000,000 | | | (1) | | Palmer Square Loan Funding 2018-1A E Ltd., 8.123%, (US0003M + 5.900%), 04/15/2026 | | | 999,960 | | | | 0.3 | |
| 1,500,000 | | | (1),(9) | | Palmer Square Loan Funding 2018-2A C Ltd., 4.310%, (US0003M + 1.950%), 07/15/2026 | | | 1,500,000 | | | | 0.4 | |
| 400,000 | | | (1) | | Progress Residential 2015-SFR2 E, 4.427%, 06/12/2032 | | | 402,393 | | | | 0.1 | |
| 531,000 | | | (1) | | Recette CLO Ltd. 2015-1A CR, 3.445%, (US0003M + 1.700%), 10/20/2027 | | | 531,236 | | | | 0.1 | |
| 670,000 | | | (1) | | Recette CLO Ltd. 2015-1A DR, 4.495%, (US0003M + 2.750%), 10/20/2027 | | | 670,050 | | | | 0.2 | |
| 800,000 | | | (1) | | Shackleton 2014-5A D CLO Ltd., 5.194%, (US0003M + 3.400%), 05/07/2026 | | | 800,106 | | | | 0.2 | |
| 120,000 | | | (1) | | Symphony CLO Ltd. 2016-18A B, 3.545%, (US0003M + 1.800%), 01/23/2028 | | | 120,621 | | | | 0.0 | |
| 1,000,000 | | | (1) | | TCI-Flatiron Clo 2017-1A C Ltd., 3.477%, (US0003M + 1.850%), 11/17/2030 | | | 999,946 | | | | 0.3 | |
| 250,000 | | | (1) | | Thacher Park CLO Ltd. 2014-1A CR, 3.945%, (US0003M + 2.200%), 10/20/2026 | | | 250,103 | | | | 0.1 | |
| 500,000 | | | (1) | | THL Credit Wind River 2013-2A CR CLO Ltd., 3.734%, (US0003M + 2.000%), 10/18/2030 | | | 501,513 | | | | 0.1 | |
| 350,000 | | | (1) | | THL Credit Wind River 2017-1A C CLO Ltd., 4.034%, (US0003M + 2.300%), 04/18/2029 | | | 352,366 | | | | 0.1 | |
| 300,000 | | | (1) | | THL Credit Wind River 2017-2A A CLO Ltd., 2.975%, (US0003M + 1.230%), 07/20/2030 | | | 301,793 | | | | 0.1 | |
| 1,350,000 | | | (1) | | THL Credit Wind River 2017-4A C CLO Ltd., 3.635%, (US0003M + 1.750%), 11/20/2030 | | | 1,350,189 | | | | 0.3 | |
| 2,000,000 | | | (1) | | Towd Point Mortgage Trust 2015-6 M2, 3.750%, 04/25/2055 | | | 2,024,944 | | | | 0.5 | |
| 600,000 | | | (1) | | Towd Point Mortgage Trust 2017-6 M2, 3.250%, 10/25/2057 | | | 569,709 | | | | 0.1 | |
| 2,000,000 | | | (1) | | West CLO 2014-2A BR Ltd., 3.472%, (US0003M + 1.750%), 01/16/2027 | | | 2,000,026 | | | | 0.5 | |
| | | | | | | | | 48,017,635 | | | | 12.7 | |
| | | | | | | | | | | | | | |
| | | | | | Student Loan Asset-Backed Securities: 1.5% | |
| 745,490 | | | (1) | | Earnest Student Loan Program, LLC 2017-A C, 4.130%, 01/25/2041 | | | 698,018 | | | | 0.2 | |
| 1,000,000 | | | (1) | | SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045 | | | 972,263 | | | | 0.2 | |
| 1,000,000 | | | (1) | | SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041 | | | 948,220 | | | | 0.2 | |
| 1,000,000 | | | (1) | | SoFi Professional Loan Program 2017-A C, 4.430%, 03/26/2040 | | | 1,000,047 | | | | 0.3 | |
| 1,000,000 | | | (1) | | SoFi Professional Loan Program 2017-C C, 4.210%, 07/25/2040 | | | 991,259 | | | | 0.3 | |
| 1,000,000 | | | (1) | | SoFi Professional Loan Program 2017-E C LLC, 4.160%, 11/26/2040 | | | 989,157 | | | | 0.3 | |
| | | | | | | | | 5,598,964 | | | | 1.5 | |
| | | | | | | | | | | | | | |
| | | | Total Asset-Backed Securities | | | | | | | | |
| | | | (Cost $56,676,620) | | | 56,901,836 | | | | 15.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
COMMERCIAL MORTGAGE-BACKED SECURITIES: 19.0% | |
| 5,320,000 | | | (1) | | BANK 2017-BNK4 E, 3.357%, 05/15/2050 | | | 3,535,130 | | | | 0.9 | |
| 5,320,000 | | | (1),(5) | | BANK 2017-BNK4 XE, 1.473%, 05/15/2050 | | | 544,954 | | | | 0.1 | |
| 1,600,000 | | | (1) | | BANK 2017-BNK6 E, 2.656%, 07/15/2060 | | | 936,340 | | | | 0.2 | |
| 1,000,000 | | | (1) | | BAMLL RE-Remic Trust 2014-FRR8 A, 2.213%, 11/26/2047 | | | 828,321 | | | | 0.2 | |
| 2,670,000 | | | (1) | | BAMLL Re-REMIC Trust 2016-FRR13 B, 1.990%, 08/27/2045 | | | 2,205,770 | | | | 0.6 | |
| 1,458,000 | | | (1) | | Bear Stearns Commercial Mortgage Securities Trust 2006-TOP22 F, 5.760%, 04/12/2038 | | | 1,508,893 | | | | 0.4 | |
| 500,000 | | | (1) | | BXMT 2017-FL1 C Ltd., 3.736%, (US0001M + 1.950%), 06/15/2035 | | | 504,413 | | | | 0.1 | |
| 1,500,000 | | | (1) | | BXMT 2017-FL1 D Ltd., 4.486%, (US0001M + 2.700%), 06/15/2035 | | | 1,514,659 | | | | 0.4 | |
| 8,303,961 | | | (5) | | CD 2016-CD1 Mortgage Trust XA, 1.434%, 08/10/2049 | | | 723,734 | | | | 0.2 | |
| 14,660,000 | | | (1),(5) | | CD 2016-CD1 Mortgage Trust XB, 0.683%, 08/10/2049 | | | 752,564 | | | | 0.2 | |
| 1,000,000 | | | (1) | | Citigroup Commercial Mortgage Trust 2013-GC17 D, 5.103%, 11/10/2046 | | | 946,982 | | | | 0.2 | |
| 980,000 | | | (1) | | Citigroup Commercial Mortgage Trust 2018-TBR E, 4.577%, (US0001M + 2.800%), 12/15/2036 | | | 984,542 | | | | 0.3 | |
| 4,132,513 | | | (5) | | COMM 2012-CR1 XA, 1.876%, 05/15/2045 | | | 256,078 | | | | 0.1 | |
| 11,644,540 | | | (5) | | COMM 2012-CR3 XA, 1.883%, 10/15/2045 | �� | | 810,553 | | | | 0.2 | |
| 994,561 | | | (5) | | COMM 2012-CR4 XA, 1.794%, 10/15/2045 | | | 58,992 | | | | 0.0 | |
| 7,432,267 | | | (1),(5) | | COMM 2012-LTRT XA, 0.995%, 10/05/2030 | | | 250,044 | | | | 0.1 | |
| 6,254,964 | | | (5) | | COMM 2014-UBS3 XA, 1.294%, 06/10/2047 | | | 312,360 | | | | 0.1 | |
| 7,177,394 | | | (5) | | COMM 2016-COR1 XA, 1.478%, 10/10/2049 | | | 622,358 | | | | 0.2 | |
| 2,853,901 | | | (5) | | COMM 2016-CR28 XA, 0.541%, 02/10/2049 | | | 111,936 | | | | 0.0 | |
| 1,000,000 | | | | | COMM 2017-COR2 C, 4.563%, 09/10/2050 | | | 1,008,854 | | | | 0.3 | |
| 21,626,006 | | | (5) | | COMM 2017-COR2 XA, 1.184%, 09/10/2050 | | | 1,865,632 | | | | 0.5 | |
| 2,962,000 | | | (1) | | Core Industrial Trust 2015-TEXW E, 3.849%, 02/10/2034 | | | 2,928,771 | | | | 0.8 | |
| 8,288 | | | (1) | | Credit Suisse First Boston Mortgage Securities Corp. 2004-C2 E, 5.736%, 05/15/2036 | | | 8,396 | | | | 0.0 | |
| 501,108 | | | | | Credit Suisse First Boston Mortgage Securities Corp. 2005-C5 F, 5.100%, 08/15/2038 | | | 505,481 | | | | 0.1 | |
| 13,168,701 | | | (5) | | CSAIL 2017-CX9 XA Commercial Mortgage Trust, 0.902%, 09/15/2050 | | | 652,186 | | | | 0.2 | |
| 3,170,000 | | | (1) | | DBJPM 16-C3 F Mortgage Trust, 4.244%, 09/10/2049 | | | 2,162,000 | | | | 0.6 | |
| 3,560,000 | | | (1) | | DBJPM 16-C3 G Mortgage Trust, 4.244%, 09/10/2049 | | | 1,676,570 | | | | 0.4 | |
| 6,668,045 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K006 BX1, 5.374%, 02/25/2020 | | | 617,290 | | | | 0.2 | |
| 13,450,000 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K011 X3, 2.578%, 12/25/2043 | | | 824,617 | | | | 0.2 | |
| 17,047,968 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K014 X3, 3.206%, 02/25/2042 | | | 1,563,805 | | | | 0.4 | |
| 23,882,837 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K016 X1, 1.521%, 10/25/2021 | | | 1,038,930 | | | | 0.3 | |
| 19,240,000 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K016 X3, 2.578%, 11/25/2041 | | | 1,604,528 | | | | 0.4 | |
| 10,470,000 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K035 X3, 1.792%, 12/25/2041 | | | 870,996 | | | | 0.2 | |
| 2,052,779 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K704 X1, 1.973%, 08/25/2018 | | | 5,904 | | | | 0.0 | |
| 48,321,960 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K709 X3, 1.701%, 04/25/2045 | | | 799,376 | | | | 0.2 | |
| 8,937,711 | | | (5) | | Freddie Mac Multifamily Structured Pass Through Certificates K715 X3, 2.018%, 02/25/2041 | | | 504,030 | | | | 0.1 | |
| 716,864 | | | (1),(5) | | FREMF Mortgage Trust 2012-K17 X2A, 0.100%, 12/25/2044 | | | 2,072 | | | | 0.0 | |
| 2,500,000 | | | (1) | | FREMF Mortgage Trust 2012-K706 P, 4.428%, 11/25/2044 | | | 2,479,788 | | | | 0.7 | |
| 203,197,429 | | | (1),(5) | | FREMF Mortgage Trust 2014-K714 X2B, 0.100%, 01/25/2047 | | | 460,263 | | | | 0.1 | |
| 1,010,000 | | | (1) | | GS Mortgage Securities Trust 2016-GS4 D, 3.233%, 11/10/2049 | | | 830,984 | | | | 0.2 | |
| 8,490,000 | | | (1),(5) | | JP Morgan Chase Commercial Mortgage Securities Corp. 2012-LC9 XB, 0.328%, 12/15/2047 | | | 122,653 | | | | 0.0 | |
| 140,000 | | | | | JP Morgan Chase Commercial Mortgage Securities Trust 2004-CIBC9 E, 5.346%, 06/12/2041 | | | 139,927 | | | | 0.0 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 500,000 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Trust 2011-C4 C, 5.541%, 07/15/2046 | | | 523,894 | | | | 0.1 | |
| 5,971,745 | | | (5) | | JP Morgan Chase Commercial Mortgage Securities Trust 2012-CIBX XA, 1.653%, 06/15/2045 | | | 257,609 | | | | 0.1 | |
| 1,000,000 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Trust 2013-C10 E, 3.500%, 12/15/2047 | | | 772,032 | | | | 0.2 | |
| 1,000,000 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Trust 2013-C13 D, 4.053%, 01/15/2046 | | | 944,557 | | | | 0.2 | |
| 1,740,000 | | | (1) | | JP Morgan Chase Commercial Mortgage Securities Trust 2013-C13 F, 3.986%, 01/15/2046 | | | 1,331,006 | | | | 0.3 | |
| 34,109,990 | | | (5) | | JP Morgan Chase Commercial Mortgage Securities Trust 2014-C20 XA, 1.093%, 07/15/2047 | | | 1,242,439 | | | | 0.3 | |
| 1,000,000 | | | (1) | | JPMBB Commercial Mortgage Securities Trust 2013-C15 D, 5.081%, 11/15/2045 | | | 972,103 | | | | 0.3 | |
| 486,024 | | | (1) | | JPMBB Commercial Mortgage Securities Trust 2014-C24 ESK, 9.989%, 11/15/2047 | | | 481,409 | | | | 0.1 | |
| 21,680,094 | | | (5) | | JPMDB Commercial Mortgage Securities Trust 2017-C7 XA, 0.917%, 10/15/2050 | | | 1,421,306 | | | | 0.4 | |
| 2,345 | | | | | LB-UBS Commercial Mortgage Trust 2005-C3 D, 4.954%, 07/15/2040 | | | 2,354 | | | | 0.0 | |
| 1,000,000 | | | | | LB-UBS Commercial Mortgage Trust 2005-C3 F, 5.013%, 07/15/2040 | | | 981,214 | | | | 0.3 | |
| 760,000 | | | (1) | | LB-UBS Commercial Mortgage Trust 2005-C5 G, 5.350%, 09/15/2040 | | | 773,501 | | | | 0.2 | |
| 25,108,764 | | | (1),(5) | | LCCM 2017-LC26 XA, 1.485%, 07/12/2050 | | | 2,471,908 | | | | 0.6 | |
| 2,352,405 | | | (1),(5) | | LSTAR Commercial Mortgage Trust 2017-5 X, 1.233%, 03/10/2050 | | | 114,688 | | | | 0.0 | |
| 990,960 | | | (1) | | Merrill Lynch Mortgage Trust 2004-BPC1 E, 5.167%, 10/12/2041 | | | 993,218 | | | | 0.3 | |
| 428,769 | | | | | ML-CFC Commercial Mortgage Trust 2006-1 B, 5.840%, 02/12/2039 | | | 428,053 | | | | 0.1 | |
| 13,779,216 | | | (5) | | Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13 XA, 1.083%, 11/15/2046 | | | 587,055 | | | | 0.2 | |
| 14,572,279 | | | (5) | | Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 XA, 1.120%, 12/15/2047 | | | 654,256 | | | | 0.2 | |
| 1,660,000 | | | (1) | | Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15 E, 4.891%, 04/15/2047 | | | 1,400,361 | | | | 0.4 | |
| 1,000,000 | | | | | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C20 C, 4.462%, 02/15/2048 | | | 978,178 | | | | 0.3 | |
| 15,917,742 | | | (5) | | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34 XA, 0.832%, 11/15/2052 | | | 940,161 | | | | 0.2 | |
| 270,000 | | | (1) | | Morgan Stanley Capital I Trust 2011-C1 D, 5.427%, 09/15/2047 | | | 281,202 | | | | 0.1 | |
| 3,519,000 | | | (1) | | PFP 2017-4 E Ltd., 6.627%, (US0001M + 4.850%), 07/14/2035 | | | 3,643,379 | | | | 1.0 | |
| 1,000,000 | | | (1) | | UBS Commercial Mortgage Trust 2017-C5, 4.322%, 11/15/2050 | | | 918,498 | | | | 0.2 | |
| 226,304 | | | (1) | | Velocity Commercial Capital Loan Trust 2014-1 A, 3.621%, (US0001M + 2.000%), 09/25/2044 | | | 226,304 | | | | 0.1 | |
| 1,600,000 | | | (1) | | Wells Fargo Commercial Mortgage Trust 2015-C30 E, 3.250%, 09/15/2058 | | | 1,026,112 | | | | 0.3 | |
| 1,120,000 | | | (1) | | Wells Fargo Commercial Mortgage Trust 2017-C40 D, 2.700%, 10/15/2050 | | | 833,863 | | | | 0.2 | |
| 21,117,940 | | | (5) | | Wells Fargo Commercial Mortgage Trust 2017-C40 XA, 0.998%, 10/15/2050 | | | 1,416,232 | | | | 0.4 | |
| 2,500,000 | | | (1) | | Wells Fargo Commercial Mortgage Trust 2018-BXI E, 3.933%, (US0001M + 2.157%), 12/15/2036 | | | 2,498,847 | | | | 0.7 | |
| 1,060,000 | | | (1),(6),(7) | | Wells Fargo Re-REMIC Trust 2013-FRR1 B706, 0.000%, 12/27/2043 | | | 1,017,917 | | | | 0.3 | |
| 411,503 | | | (1),(5) | | WFRBS Commercial Mortgage Trust 2012-C8 XA, 1.849%, 08/15/2045 | | | 25,793 | | | | 0.0 | |
| 3,399,026 | | | (1),(5) | | WFRBS Commercial Mortgage Trust 2012-C9 XA, 1.910%, 11/15/2045 | | | 239,518 | | | | 0.1 | |
| 760,000 | | | (1) | | WFRBS Commercial Mortgage Trust 2013-C11 F, 4.272%, 03/15/2045 | | | 583,258 | | | | 0.2 | |
| 1,200,000 | | | (1) | | WFRBS Commercial Mortgage Trust 2013-C11 G, 4.272%, 03/15/2045 | | | 462,531 | | | | 0.1 | |
See Accompanying Notes to Financial Statements
Voya Strategic Income Opportunities Fund | PORTFOLIO OF INVESTMENTS as of March 31, 2018 (continued) |
| 6,018,702 | | | (1),(5) | | WFRBS Commercial Mortgage Trust 2013-C12 XA, 1.279%, 03/15/2048 | | | 291,117 | | | | 0.1 | |
| | | | | | | | | | | | | | |
| | | | Total Commercial Mortgage-Backed Securities | | | | | | | | |
| | | | (Cost $71,823,585) | | | 71,817,549 | | | | 19.0 | |
| | | | | | | | | | | | | | |
| | | | Total Long-Term Investments | | | | | | | | |
| | | | (Cost $323,738,431) | | | 326,014,194 | | | | 86.3 | |
| | | | | | | | | | | | | | |
SHORT-TERM INVESTMENTS: 14.4% | |
| | | | | | Securities Lending Collateral(10): 0.8% | |
| 169,609 | | | | | Bank of Montreal, Repurchase Agreement dated 03/29/18, 1.76%, due 04/02/18 (Repurchase Amount $169,642, collateralized by various U.S. Government Securities, 0.000%-4.500%, Market Value plus accrued interest $173,001, due 04/26/18-09/09/49) | | | 169,609 | | | | 0.0 | |
| 1,000,000 | | | | | Daiwa Capital Markets, Repurchase Agreement dated 03/29/18, 1.81%, due 04/02/18 (Repurchase Amount $1,000,198, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $1,020,000, due 04/30/18-12/01/51) | | | 1,000,000 | | | | 0.2 | |
| 1,000,000 | | | | | Jefferies LLC, Repurchase Agreement dated 03/29/18, 1.84%, due 04/02/18 (Repurchase Amount $1,000,202, collateralized by various U.S. Government Agency Obligations, 2.500%-6.000%, Market Value plus accrued interest $1,020,008, due 03/01/37-06/15/60) | | | 1,000,000 | | | | 0.3 | |
| 1,000,000 | | | | | Nomura Securities, Repurchase Agreement dated 03/29/18, 1.82%, due 04/02/18 (Repurchase Amount $1,000,199, collateralized by various U.S. Government\U.S. Government Agency Obligations, 0.000%-7.500%, Market Value plus accrued interest $1,020,000, due 04/02/18-02/20/68) | | | 1,000,000 | | | | 0.3 | |
| | | | | | | | | 3,169,609 | | | | 0.8 | |
Shares | | | | | | | Value | | | Percentage of Net Assets | |
| | | | | | Mutual Funds: 13.6% | |
| 51,373,486 | | | (11) | | BlackRock Liquidity Funds, FedFund, Institutional Class, 1.550% | | | | | | | | |
| | | | | | (Cost $51,373,486) | | | 51,373,486 | | | | 13.6 | |
| | | | | | | | | | | | | | |
| | | | Total Short-Term Investments | | | | | | | | |
| | | | (Cost $54,543,095) | | | 54,543,095 | | | | 14.4 | |
| | | | | | | | | | | | | | |
| | | | Total Investments in Securities (Cost $378,281,526) | | $ | 380,557,289 | | | | 100.7 | |
| | | | Liabilities in Excess of Other Assets | | | (2,676,427 | ) | | | (0.7 | ) |
| | | | Net Assets | | $ | 377,880,862 | | | | 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) | Step Bond. Interest rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Rate shown is the rate in effect as of March 31, 2018. |
(5) | Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security. |
(6) | Represents a zero coupon bond. Rate shown reflects the effective yield as of March 31, 2018. |
(7) | 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. |
(8) | The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies. |
(9) | Settlement is on a when-issued or delayed-delivery basis. |
(10) | Represents securities purchased with cash collateral received for securities on loan. |
(11) | Rate shown is the 7-day yield as of March 31, 2018. |
ARS | Argentine Peso |
BRL | Brazilian Real |
CLP | Chilean Peso |
EUR | EU Euro |
IDR | Indonesian Rupiah |
MXN | Mexican Peso |
PEN | Peruvian Nuevo Sol |
RUB | Russian Ruble |
TRY | Turkish New Lira |
Reference Rate Abbreviations: |
12MTA | 12-month Treasury Average |
PRIME | Federal Reserve Bank Prime Loan Rate |
US0001M | 1-month LIBOR |
US0003M | 3-month LIBOR |
See Accompanying Notes to Financial Statements
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11. 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 second fiscal quarter of 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 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
| (a)(1) | The Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
| (a)(2) | A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) is attached hereto as EX-99.CERT. |
| (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/ Michael Bell | |
| Michael Bell | |
| Chief Executive Officer | |
Date: June 7, 2018
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/ Michael Bell | |
| Michael Bell | |
| Chief Executive Officer | |
Date: June 7, 2018
By | /s/ Todd Modic | |
| Todd Modic | |
| Senior Vice President and Chief Financial Officer | |
Date: June 7, 2018