Ing Variable Insurance Trust N-CSRS Certified semi-annual shareholder report (management investment company)

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number			811-9477
ING Variable Insurance Trust
(Exact name of registrant as specified in charter)
7337 E. Doubletree Ranch Rd., Scottsdale, AZ					85258
(Address of principal executive offices)					(Zip code)
The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801
(Name and address of agent for service)
Registrant’s telephone number, including area code:				1-800-992-0180
Date of fiscal year end:	December 31
Date of reporting period:		January 1, 2007 to June 30, 2007

ITEM 1.REPORTS TO STOCKHOLDERS.

The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):

Funds

Semi-Annual Report

June 30, 2007

ING VP Global Equity Dividend Portfolio

This report is submitted for general information to shareholders of the ING Funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds' investment objectives, risks, charges, expenses and other information. This information should be read carefully.

TABLE OF CONTENTS

President's Letter	1
Market Perspective	2
Shareholder Expense Example	4
Statement of Assets and Liabilities	5
Statement of Operations	6
Statements of Changes in Net Assets	7
Financial Highlights	8
Notes to Financial Statements	9
Portfolio of Investments	18

PROXY VOTING INFORMATION

A description of the policies and procedures that the Portfolio uses to determine how to vote proxies related to portfolio securities is available (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the ING Funds' website at www.ingfunds.com; and (3) on the SEC's website at www.sec.gov. Information regarding how the Portfolio voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Funds' website at www.ingfunds.com and on the SEC's website at www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS

The Portfolio files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Portfolio's Forms N-Q are available on the SEC's website at www.sec.gov. The Portfolio's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC, and information on the operation of the Public Reference Room may be obtained by calling (800)SEC-0330; and is available upon request from the Portfolio by calling Shareholder Services toll-free at (800) 992-0180.

(THIS PAGE INTENTIONALLY LEFT BLANK)

PRESIDENT'S LETTER

Dear Shareholder,

So far, it has been a volatile year in the markets. In February, we saw an unprecedented, single-day freefall in Chinese stocks that sent tremors throughout global markets. Closer to home, we witnessed a downturn in the U.S. sub-prime mortgage industry that continues to impact fixed income investments as well as real estate and equity markets worldwide.

When friends and colleagues in the industry voice concerns about the market's recent volatility, I remind them that such ongoing events are fairly normal and that they underscore the importance of a well-diversified investment strategy. Studies have shown that an investment strategy allocated across a diverse group of asset classes and investment sectors can help provide an investor with solid footing for the long-term despite the short-term commotions.

We at ING Funds remain committed to providing our clients with a diverse and comprehensive line-up of innovative investment products — all designed to offer solutions to your investment needs. Whatever your investing goals, we look forward to continuing to serve you.

Shaun P. Mathews
President
ING FundsAugust 10, 2007

The views expressed in the President's Letter reflect those of the President as of the date of the letter. Any such views are subject to change at any time based upon market or other conditions and ING Funds disclaims any responsibility to update such views. These views may not be relied on as investment advice and because investment decisions for an ING Fund are based on numerous factors, may not be relied on as an indication of investment intent on behalf of any ING Fund. Reference to specific company securities should not be construed as recommendations or investment advice.

International investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic.

1

MARKET PERSPECTIVE: SIX MONTHS ENDED JUNE 30, 2007

Investors will remember early 2007 for the well-anticipated shocks and corrections that finally struck. But global equities markets soon recovered their poise and provided good gains through May 2007 before some nervousness returned in June 2007. For the six months ended June 30, 2007, the Morgan Stanley Capital International World Index^SM(1) ("MSCI World Index") measured in local currencies, including net reinvested dividends ("MSCI" for regions discussed below) added 8.2%. In currencies, the dollar's early strides were retraced on the (perceived) certainty that European interest rates were on the way up while those in the U.S. were not. The euro made a new closing high and the pound reached the best level in 25 years against the dollar. The yen however buckled under the "carry trade", in which speculators borrow in yen at low interest and buy higher yielding securities in other currencies. For the six months ended June 30, 2007, the dollar fell 2.5% against the euro and the pound, but gained 3.5% on the yen.

U.S. markets entered 2007 against a backdrop of a stable federal funds rate since June 2007. A slowing economy dragged by a slumping housing market seemed to be on the rebound in December 2006. The early reports in 2007 sustained this view, with unexpectedly strong employment, retail sales and confidence readings, as well as robust increases in housing starts and pending home sales. The first estimate of fourth quarter gross domestic product ("GDP") growth was an impressive 3.5%.

But from February 2007, it soon became apparent that the improvement in housing figures only reflected the mild weather of early winter. New starts, sales and prices were now falling. GDP growth was sharply revised down to 2.5%. To make matters worse, the country's largest sub-prime mortgage lenders were reporting major losses.

February 2007 was an unsettling month in other ways. The China stock market had practically doubled in 2006 and the long expected pull back eventually came on February 27th when the index fell 9%. The effect on sentiment was to shake relative risk strategies generally.

The housing gloom continued into the second quarter. Foreclosures in May 2007 were 90% higher than one year earlier. Existing housing prices fell in the first quarter year over year for the first time since 1991. The sub-prime dragon reared its head again in June 2007 when the investment bank, Bear Stearns, had to rescue two of its hedge funds in distress over holdings in mortgage bonds. The effect on GDP was clear. Growth in the latest quarter was finalized at just 0.69% annualized, the lowest since 2003.

Yet the feeling persisted that while the sub-prime debacle was serious, the chance of it tripping the economy into recession was remote. Unemployment remained light at 4.5%. The consumer was still spending, although as June ended high gasoline prices were weighing on consumer confidence. And the chances of a rate cut had all but vanished as the Federal Open Market Committee ("FOMC") in leaving the federal funds rate at 5.25%, made it clear that "...a sustained moderation in inflation pressures has yet to be convincingly demonstrated."

In U.S. fixed income markets the yield curve became steeper, with the yield on the ten-year Treasury Note making a five-year high before slipping to 5.03%, up 32 basis points (0.32%) for the six months ended June 30, 2007, while that on the three-month Bill fell 22 basis points (0.22%) to 4.67%. This surely reflected the confidence-shaking events of February 2007, as well as the FOMC's somewhat curious removal of its tightening bias on March 21, 2007, while still citing inflation as the predominant concern. For the six months ended June 30, 2007, the Lehman Brothers^® Aggregate Bond Index⁽²⁾ ("LBAB") of investment grade bonds r eturned just 98 basis points (0.98%).

U.S. equities, represented by the Standard & Poor's 500^® Composite Stock Price Index⁽³⁾ ("S&P 500^® Index") including dividends, rose 7.0%, finally breaching its March 2000 record. Investors might have been depressed in anticipation of the first quarter in fifteen with less than double-digit year-over-year percentage profits growth for companies that make up the S&P 500^® Index. But the earnings growth rate of 8.6% that emerged was much better than had been feared. Sentiment was also boosted by takeover activity, much of it from private equity firms able to draw from an apparently bottomless well of liquidity. By early June 2007 however, nerves were getting frayed as 10-year bond yields pushed through 5% and on the Bear Stearns' news, unlikely to be an isolated case. Led by financials and the interest sensitive utilities sectors, the S&P 500^® Index gave back 1.7% in June.

Internationally, the MSCI Japan^® Index⁽⁴⁾ rose 6.6% for the six months ended June 30, 2007, amid the usual contradictory mix of economic statistics. GDP growth held up well after the fastest quarterly expansion in three years. Unemployment remained at a nine-year low. But consumer prices and wages started falling again, forcing the Bank of Japan, which raised interest

2

MARKET PERSPECTIVE: SIX MONTHS ENDED JUNE 30, 2007

rates in February 2007 to a still wafer-thin 0.5%, to leave them there, keeping the carry trade in business. The MSCI Europe ex UK^® Index⁽⁵⁾ surged 11.2% on the basis of high consumer and business confidence, the lowest Eurozone unemployment since records began, the fastest GDP growth in years and continuing merger and acquisition activity. But June 2007 saw sentiment tail off somewhat as the ascending euro threatened exports and the European Central Bank raised rates for the eighth time since late 2005. In the UK, a housing boom and r obust service sector had raised year over year GDP growth to 3.0% amid buoyant retail sales, confident consumers and record profits for non-financial companies. The MSCI UK^® Index⁽⁶⁾ advanced 8.1% for the six months ended June 30, 2007, although again slipping in June as home price inflation and retail sales cooled after the Bank of England raised rates to 5.5%, a six-year high.

⁽¹⁾  The MSCI World Index^SM is an unmanaged index that measures the performance of over 1,400 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East.

⁽²⁾  The LBAB Index is a widely recognized, unmanaged index of publicly issued investment grade U.S. Government, mortgage-backed, asset-backed and corporate debt securities.

⁽³⁾  The S&P 500^® Index is an unmanaged index that measures the performance of securities of approximately 500 of the largest companies in the United States.

⁽⁴⁾  The MSCI Japan^® Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan.

⁽⁵⁾  The MSCI Europe ex UK^® Index is a free float rising adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK.

⁽⁶⁾  The MSCI UK^® Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK.

All indices are unmanaged and investors cannot invest directly in an index.

Past performance does not guarantee future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. The Portfolios' performance is subject to change since the period's end and may be lower or higher than the performance data shown. Please call (800) 992-0180 or log on to www.ingfunds.com to obtain performance data current to the most recent month end.

Market Perspective reflects the views of ING's Chief Investment Risk Officer only through the end of the period, and is subject to change based on market and other conditions.

3

SHAREHOLDER EXPENSE EXAMPLE (UNAUDITED)

As a shareholder of a Portfolio, you incur two types of costs: (1) transaction costs, including redemption fees and exchange fees; and (2) ongoing costs, including management fees, distribution and/or service (12b–1) fees, and other Portfolio expenses. These Examples are intended to help you understand your ongoing costs (in dollars) of investing in a Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The Examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from January 1, 2007 to June 30, 2007. The Portfolio's expenses are shown without the imposition of any charges which are, or may be, imposed under your annuity contract. Expenses would have been higher if such charges were included.

Actual Expenses

The first section of the table shown, "Actual Portfolio Return," provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first section under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second section of the table shown, "Hypothetical 5% Return", provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other mutual funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other mutual funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as redemption fees or exchange fees. Therefore, the hypothetical lines of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different mutual funds. In addition, if these transactional costs were included, your costs would have been higher.

ING VP Global Equity Dividend Portfolio	Beginning Account Value January 1, 2007		Ending Account Value June 30, 2007		Expenses Paid During the Period Ended June 30, 2007*
Actual Portfolio Return	$	1,000.00	$	1,069.50	$	5.90
Hypothetical (5% return before expenses)	$	1,000.00	$	1,019.09	$	5.76

*  Expenses are equal to the Portfolio's annualized expense ratio of 1.15% multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half-year.

4

STATEMENT OF ASSETS AND LIABILITIES AS OF JUNE 30, 2007 (UNAUDITED)

	ING VP Global Equity Dividend Portfolio
ASSETS:
Investments in securities at value+*	$	58,835,969
Short-term investments at amortized cost		10,809,000
Cash		1,246,329
Foreign currencies at value**		137,151
Receivables:
Dividends and interest		250,850
Prepaid expenses		281
Reimbursement due from manager		11,833
Total assets		71,291,413
LIABILITIES:
Payable for investment securities purchased		20,171
Payable for fund shares redeemed		39,995
Payable upon receipt of securities loaned		10,809,000
Payable to affiliates		50,224
Payable for trustee fees		1,152
Other accrued expenses and liabilities		44,747
Total liabilities		10,965,289
NET ASSETS (equivalent to $9.87 per share on 6,113,488 shares outstanding)	$	60,326,124
NET ASSETS WERE COMPRISED OF:
Paid-in capital — shares of beneficial interest $0.001 par value (unlimited shares authorized)	$	41,985,072
Undistributed net investment income		900,521
Accumulated net realized gain on investments and foreign currency related transactions		7,948,365
Net unrealized appreciation on investments and foreign currency related transactions		9,492,166
NET ASSETS	$	60,326,124
+ Including securities loaned at value	$	10,439,153
* Cost of investments in securities	$	49,347,357
** Cost of foreign currencies	$	135,200

See Accompanying Notes to Financial Statements
5

STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2007 (UNAUDITED)

	ING VP Global Equity Dividend Portfolio
INVESTMENT INCOME:
Dividends, net of foreign taxes withheld*	$	1,686,518
Interest		4,026
Securities lending income		27,565
Total investment income		1,718,109
EXPENSES:
Investment management fees		304,844
Transfer agent fees		91
Shareholder reporting expense		28,331
Registration fees		321
Professional fees		19,265
Custody and accounting expense		14,028
Trustee fees		767
Miscellaneous expense		1,996
Total expenses		369,643
Net waived and reimbursed fees		(19,031	)
Net expenses		350,612
Net investment income		1,367,497
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY RELATED TRANSACTIONS:
Net realized gain on:
Investments		3,584,887
Foreign currency related transactions		13,949
Net realized gain on investments and foreign currency related transactions		3,598,836
Net change in unrealized appreciation or depreciation on:
Investments		(886,473	)
Foreign currency related transactions		318
Net change in unrealized appreciation or depreciation on investments		(886,155	)
Net realized and unrealized gain on investments and foreign currency related transactions		2,712,681
Increase in net assets resulting from operations	$	4,080,178
* Foreign taxes withheld	$	131,546

See Accompanying Notes to Financial Statements
6

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING VP Global Equity Dividend Portfolio
	Six Months Ended June 30, 2007			Year Ended December 31, 2006
FROM OPERATIONS:
Net investment income	$	1,367,497		$	2,334,169
Net realized gain on investments and foreign currency related transactions		3,598,836			4,936,886
Net change in unrealized appreciation or depreciation on investments and foreign currency related transactions		(886,155	)		7,599,196
Net increase in net assets resulting from operations		4,080,178			14,870,251
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(918,097	)		(2,342,990	)
Total distributions		(918,097	)		(2,342,990	)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares		40			929,971
Dividends reinvested		918,097			2,342,990
		918,137			3,272,961
Cost of shares redeemed		(6,588,719	)		(13,941,491	)
Net decrease in net assets resulting from capital share transactions		(5,670,582	)		(10,668,530	)
Net increase (decrease) in net assets		(2,508,501	)		1,858,731
NET ASSETS:
Beginning of period		62,834,625			60,975,894
End of period	$	60,326,124		$	62,834,625
Undistributed net investment income at end of period	$	900,521		$	451,121

See Accompanying Notes to Financial Statements
7

ING VP GLOBAL EQUITY DIVIDEND PORTFOLIO (UNAUDITED)

FINANCIAL
HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

	Six Months Ended June 30,			Year Ended December 31,
	2007			2006		2005		2004		2003		2002
Per Share Operating Performance:
Net asset value, beginning of period	$	9.37			7.65		7.56		6.96		5.39		7.18
Income from investment operations:
Net investment income	$	0.21	*		0.33		0.21		0.04		0.01		0.00	**
Net realized and unrealized gain (loss) on investments and foreign currencies	$	0.44			1.72		0.11		0.61		1.56		(1.79	)
Total from investment operations	$	0.65			2.05		0.32		0.65		1.57		(1.79	)
Less distributions from:
Net investment income	$	0.15			0.33		0.23		0.05		—		0.00	**
Total distributions	$	0.15			0.33		0.23		0.05		—		0.00	**
Net asset value, end of the period	$	9.87			9.37		7.65		7.56		6.96		5.39
Total Return(1)	%	6.95			27.29		4.39		9.44		29.13		(24.92	)
Ratios and Supplemental Data:
Net assets, end of the period (000s)	$	60,326			62,835		60,976		56,941		50,752		27,745
Ratios to average net assets:
Gross expenses prior to expense reimbursement/ recoupment and brokerage commission recapture(2)	%	1.21			1.17		1.24		1.20		1.75		2.07
Net expenses after expense reimbursement/ recoupment prior to brokerage commission recapture(2)(3)	%	1.15			1.15		1.16		1.23		1.23		1.23
Net expenses after expense reimbursement/ recoupment and brokerage commission recapture(2)(3)	%	1.15			1.15		1.16		1.23		1.23		1.23
Net investment income (loss) after expense reimbursement/recoupment and brokerage commission recapture(2)(3)	%	4.49			3.79		2.91		0.62		0.23		(0.01	)
Portfolio turnover rate	%	14			31		183		122		111		279

⁽¹⁾  Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽²⁾  Annualized for periods less than one year.

⁽³⁾  The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

*  Calculated using the average number of shares outstanding throughout the period.

**  Amount is less than $0.005.

See Accompanying Notes to Financial Statements.
8

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED)

NOTE 1 — ORGANIZATION

Organization. The ING Variable Insurance Trust (the ''Trust'') was organized as a Delaware statutory trust on July 15, 1999 and is registered with the U.S. Securities and Exchange Commission ("SEC") under the Investment Company Act of 1940, as amended ("1940 Act"), as an open-end management investment company. There are fifteen separate investment series which comprise the Trust. This report is for the ING VP Global Equity Dividend Portfolio (the ''Portfolio''), a diversified series of the Trust. The investment objective of the Portfolio is to seek growth of capital with dividend income as a secondary consideration.

Shares of the Portfolio may be offered to segregated asset accounts of insurance companies as investment options under variable annuity contracts and variable life insurance policies ("Variable Contracts"). Shares may also be offered to qualified pension and retirement plans and to certain investment advisers and their affiliates.

Participating insurance companies and other designated organizations are authorized to receive purchase orders on the Portfolio's behalf.

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies are consistently followed by the Portfolio in the preparation of its financial statements, and such policies are in conformity with U.S. generally accepted accounting principles for investment companies.

A.  Security Valuation. Investments in equity securities traded on a national securities exchange are valued at the last reported sale price. Securities reported by NASDAQ are valued at the NASDAQ official closing prices. Securities traded on an exchange or NASDAQ for which there has been no sale and equity securities traded in the over-the-counter-market are valued at the mean between the last reported bid and asked prices. All investments quoted in foreign currencies will be valued daily in U.S. dollars on the basis of the foreign currency exchange rates prevailing at that time. Debt securities are valued at prices obtained from independent services or from one or more dealers making markets in the securities and may be adjusted based on the Portfolio's valuation procedures. U.S. government obligations are valued by using market quotations or independent pricing services which use prices provided by market-makers or estimates of market values obtained from yield data relating to instruments or securities with similar characteristics.

Securities and assets for which market quotations are not readily available (which may include certain restricted securities which are subject to limitations as to their sale) or deemed unreliable are valued at their fair values as determined in good faith by or under the supervision of the Portfolio's Board of Trustees ("Board"), in accordance with methods that are speciÞcally authorized by the Board. Securities traded on exchanges, including foreign exchanges, which close earlier than the time that the Portfolio calculates its net asset value ("NAV") may also be valued at their fair values as determined in good faith by or under the supervision of the Portfolio's Board, in accordance with methods that are speciÞcally authorized by the Board. The valuation techniques applied in any specific instance are likely to vary from case to case. With respect to a restricted security, for example, consideration is generally given to the cos t of the investment, the market value of any unrestricted securities of the same class at the time of valuation, the potential expiration of restrictions on the security, the existence of any registration rights, the costs to the Portfolio related to registration of the security, as well as factors relevant to the issuer itself. Consideration may also be given to the price and extent of any public trading in similar securities of the issuer or comparable companies' securities.

The value of a foreign security traded on an exchange outside the United States is generally based on the price of a foreign security on the principal foreign exchange where it trades as of the time a Portfolio determines its NAV or if the foreign exchange closes prior to the time the Portfolio determines its NAV, the most recent closing price of the foreign security on its principal exchange. Trading in certain non-U.S. securities may not take place on all days on which the New York Stock Exchange ("NYSE") is open. Further, trading takes place in various foreign markets on days on which the NYSE is not open. Consequently, the calculation of the Portfolio's NAV may not take place contemporaneously with the determination of the prices of securities held by the Portfolio in foreign securities markets. Further, the value of the Portfolio's assets may be significantly affected by foreign trading on days when a shareholder cannot purchase or rede em shares of the Portfolio. In calculating the Portfolio's NAV, foreign securities in foreign currency are converted to U.S. dollar equivalents.

9

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

If an event occurs after the time at which the market for foreign securities held by the Portfolio closes but before the time that the Portfolio's NAV is calculated, such event may cause the closing price on the foreign exchange to not represent a readily available reliable market value quotation for such securities at the time the Portfolio determines its NAV. In such a case, the Portfolio will use the fair value of such securities as determined under the Portfolio's valuation procedures. Events after the close of trading on a foreign market that could require the Portfolio to fair value some or all of its foreign securities include, among others, securities trading in the U.S. and other markets, corporate announcements, natural and other disasters, and political and other events. Among other elements of analysis in the determination of a security's fair value, the Board has authorized the use of one or more independent research services to assist with such determinations. An independent research service may use statistical analyses and quantitative models to help determine fair value as of the time the Portfolio calculates its NAV. There can be no assurance that such models accurately reßect the behavior of the applicable markets or the effect of the behavior of such markets on the fair value of securities, or that such markets will continue to behave in a fashion that is consistent with such models. Unlike the closing price of a security on an exchange, fair value determinations employ elements of judgment. Consequently, the fair value assigned to a security may not represent the actual value that the Portfolio could obtain if it were to sell the security at the time of the close of the NYSE. Pursuant to procedures adopted by the Board, the Portfolio is not obligated to use the fair valuations suggested by any research service, and valuation recommendations provided by such research services may be overridden if other events have occurr ed or if other fair valuations are determined in good faith to be more accurate. Unless an event is such that it causes the Portfolio to determine that the closing prices for one or more securities do not represent readily available reliable market value quotations at the time the Portfolio determines its NAV, events that occur between the time of the close of the foreign market on which they are traded and the close of regular trading on the NYSE will not be reflected in the Portfolio's NAV. Investments in securities maturing in 60 days or less are valued at amortized cost, which, when combined with accrued interest, approximates market value.

B.  Security Transactions and Revenue Recognition. Security transactions are recorded on the trade date. Realized gains or losses on sales of investments are calculated on the identified cost basis. Interest income is recorded on the accrual basis. Premium amortization and discount accretion are determined using the effective yield method. Dividend income is recorded on the ex-dividend date or when notified for certain foreign securities.

C.  Foreign Currency Translation. The books and records of the Portfolio are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

(1)  Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at the end of the day.

(2)  Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets and the market values are presented at the foreign exchange rates at the end of the day, the Portfolio does not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses from investments. For securities which are subject to foreign withholding tax upon disposition, liabilities are recorded on the Statement of Assets and Liabilities for the estimated tax withholding based on the securities current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Portfolio's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities at period end, resulting from changes in the exchange rate. Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in

10

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

U.S. companies and U.S. government securities. These risks include, but are not limited to, revaluation of currencies and future adverse political and economic developments which could cause securities and their markets to be less liquid and prices more volatile than those of comparable U.S. companies and U.S. government securities.

D.  Forward Foreign Currency Contracts. The Portfolio may enter into forward foreign currency contracts primarily to hedge against foreign currency exchange rate risks on their non-U.S. dollar denominated investment securities. When entering into a currency forward contract, the Portfolio agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed future date. These contracts are valued daily and the Portfolio's net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date, is included in the Statement of Assets and Liabilities. Realized and unrealized gains and losses are included on the Statement of Operations. These instruments involve market and/or credit risk in excess of the amount recognized in the Statement of Assets and Liabilities. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movement in currency and securities values and interest rates.

E.  Distributions to Shareholders. Dividends from net investment income and net realized gains, if any are declared and paid quarterly by the Portfolio. Distributions are determined annually in accordance with federal tax principles which may differ from U.S. generally accepted accounting principles for investment companies. The Portfolio may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. Distributions are recorded on the ex-dividend date.

F.  Federal Income Taxes. It is the policy of the Portfolio to comply with subchapter M of the Internal Revenue Code and related excise tax provisions applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, no federal income tax provision is required. No capital gain distributions shall be made until any capital loss carryforwards have been fully utilized or expired.

G.  Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

H.  Repurchase Agreements. The Portfolio may invest in repurchase agreements only with government securities dealers recognized by the Board of Governors of the Federal Reserve System. Under such agreements, the seller of the security agrees to repurchase it at a mutually agreed upon time and price. The resale price is in excess of the purchase price and reflects an agreed upon interest rate for the period of time the agreement is outstanding. The period of the repurchase agreements is usually short, from overnight to one week, while the underlying securities generally have longer maturities. The Portfolio will receive as collateral securities acceptable to it whose market value is equal to at least 100% of the carrying amount of the repurchase agreements, plus accrued interest, bein g invested by the Portfolio. The underlying collateral is valued daily on a mark to market basis to assure that the value, including accrued interest, is at least equal to the repurchase price. There would be potential loss to the Portfolio in the event the Portfolio is delayed or prevented from exercising its right to dispose of the collateral and it might incur disposition costs in liquidating the collateral.

I.  Securities Lending. The Portfolio has the option to temporarily loan up to 30% of its total assets to brokers, dealers or other financial institutions in exchange for a negotiated lender's fee. The borrower is required to fully collateralize the loans with cash or U.S. government securities. Generally, in the event of counterparty default, the Portfolio has the right to use collateral to offset losses incurred. There would be potential loss to the Portfolio in the event the Portfolio is delayed or prevented from exercising its right to dispose of the collateral. The Portfolio bears the risk of loss with respect to the investment of collateral. Engaging in securities lending could have a leveraging effect, which may intensify the credit, market and other risks associated with inve sting in the Portfolio.

J.  Indemnifications. In the normal course of business, the Trust may enter into contracts that provide certain indemnifications. The Trust's maximum exposure under these arrangements is dependent

11

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

on future claims that may be made against the Portfolio and, therefore, cannot be estimated; however, based on experience, the risk of loss from such claims is considered remote.

NOTE 3 — INVESTMENT MANAGEMENT FEE

The Trust entered into an investment management agreement ("Management Agreement") with ING Investments ("ING Investments" or the "Investment Adviser"), on behalf of the Portfolio. The Portfolio pays the Investment Adviser for its services under the Management Agreement, a fee, payable monthly, based on an annual rate of 1.00% of the average daily net assets of the Portfolio.

The Investment Adviser has entered into an expense limitation agreement ("Expense Limitation Agreement") with the Portfolio, under which it will limit expenses of the Portfolio to the extent of 1.23% of the value of the Portfolio's average daily net assets, excluding interest, taxes, brokerage and extraordinary expenses. Fee waivers and/or reimbursements by the Investment Adviser may vary in order to achieve such contractually obligated expense limit.

The Expense Limitation Agreement is contractual and shall renew automatically for one-year terms unless ING Investments provides written notice of the termination of the Expense Limitation Agreement within 90 days of the end of the then current term.

The Investment Adviser may at a later date recoup from the Portfolio management fees waived and other expenses assumed by the Investment Adviser during the previous 36 months, but only if, after such reimbursement, the Portfolio's expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees, are reflected on the accompanying Statement of Operations.

Effective January 1, 2006, pursuant to a side agreement, the Investment Adviser lowered the expense limit for the Portfolio to 1.15% through December 31, 2006. Effective January 1, 2007, pursuant to a side agreement, the Investment Adviser has lowered the expense limit for the Portfolio to 1.15% through December 31, 2007. There is no guarantee that this side agreement will continue after that date. If after December 31, 2007, the Investment Manager elects not to renew the side agreement, the expense limit will revert to the limitation under the Portfolio's expense limitation agreement of 1.23%. The Portfolio waived $19,031 pursuant to the side agreement during the six months ended June 30, 2007. Any fees waived pursuant to the side agreement shall not be eligible for recoupment.

As of June 30, 2007, there are no amounts eligible for recoupment.

ING Funds Services, LLC (the "Administrator") serves as Administrator to the Portfolio. There is no fee paid to the Administrator.

ING Investments has engaged ING Investment Management Advisors B.V. ("IIMA") to serve as sub-adviser to the Portfolio pursuant to a sub-advisory agreement with the Investment Adviser.

The Investment Adviser, IIMA, and the Administrator are indirect, wholly-owned subsidiaries of ING Groep N.V. ("ING Groep"). ING Groep is one of the largest financial services organizations in the world, and offers an array of banking, insurance and asset management services to both individuals and institutional investors.

NOTE 4 — OTHER TRANSACTIONS WITH AFFILIATED AND RELATED PARTIES

The Investment Adviser may direct the Portfolio's sub-adviser to use their best efforts (subject to obtaining best execution of each transaction) to allocate the Portfolio's equity security transactions through certain designated broker-dealers. The designated broker-dealer, in turn, will reimburse a portion of the brokerage commissions to pay certain expenses of the Portfolio. There was no brokerage commission recapture during the six months ended June 30, 2007.

At June 30, 2007, the Portfolio had the following amounts recorded in payable to affiliates on the accompanying Statement of Assets and Liabilities:

Accrued Investment Management Fees
$	50,224

The Trust has adopted a Retirement Policy ("Policy") covering all Independent Trustees of the Trust who will have served as an Independent Trustee for at least five years at the time of retirement. Benefits under this Policy are based on an annual rate as defined in the Policy.

At June 30, 2007, the following indirect, wholly-owned subsidiary of ING Groep owned more than 5% of the Portfolio:

ING USA Annuity and Life Insurance Company (99.47%).

NOTE 5 — OTHER ACCRUED EXPENSES AND LIABLITIES

At June 30, 2007, the Portfolio had the following payables included in Other Accrued Expenses and Liablities on the Statements of Assets and Liabilities that exceeded 5% of total liabilities.

Payable for Custody Fees		Payable for Audit Fees		Payable for Postage Fees
$	11,696	$	12,599	$	11,260

12

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 6 — PURCHASES AND SALES OF INVESTMENT SECURITIES

The cost of purchases and proceeds from sales of investments for the six months ended June 30, 2007, excluding short-term securities, were $8,240,336 and $14,243,982, respectively.

NOTE 7 — LINE OF CREDIT

The Portfolio, in addition to certain other funds managed by the Investment Adviser, has entered into an unsecured committed revolving line of credit agreement (the "Credit Agreement") with The Bank of New York Mellon Corporation ("BNY") for an aggregate amount of $125,000,000. The proceeds may be used to: (1) temporarily finance the purchase and sale of securities; (2) finance the redemption of shares of an investor in the funds; and (3) enable the funds to meet other emergency expenses as defined in the Credit Agreement. The funds to which the line of credit is available pay a commitment fee equal to 0.09% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. For the six months ended June 30, 2007, the Portfolio did not utilize the line of credit.

NOTE 8 — CAPITAL SHARE TRANSACTIONS

Transactions in capital shares and dollars, were as follows:

	Six Months Ended June 30, 2007			Year Ended December 31, 2006
VP Global Equity Dividend (Number of Shares)
Shares sold		4			114,483
Dividends reinvested		96,744			276,652
Shares redeemed		(685,842	)		(1,660,987	)
Net decrease in shares outstanding		(589,094	)		(1,269,852	)
VP Global Equity Dividend ($)
Shares sold	$	40		$	929,971
Dividends reinvested		918,097			2,342,990
Shares redeemed		(6,588,719	)		(13,941,491	)
Net decrease	$	(5,670,582	)	$	(10,668,530	)

NOTE 9 — CONCENTRATION OF INVESTMENT RISKS

Foreign Securities. The Portfolio makes significant investments in foreign securities. Investments in foreign securities may entail risks not present in domestic investments. Since investments in securities are denominated in foreign currencies, changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of the Portfolio. Foreign investments may also subject the Portfolio to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, as well as changes vis-a-vis the U.S. dollar from movements in currency, security value and interest rate, all of which could affect the market and/or credit risk of the investments.

Diversification. The Portfolio is "diversified" within the meaning of the 1940 Act. In order to qualify as diversified, the Portfolio must diversify its holdings so that at all times at least 75% of the value of its total assets is represented by cash and cash items (including receivables), securities issued or guaranteed as to principal or interest by the United States or its agencies or instrumentalities, securities of other investment companies, and other securities (for this purpose other securities of any one issuer are limited to an amount not greater than 5% of the value of the total assets of the Portfolio and to not more than 10% of the outstanding voting securities of the issuer).

NOTE 10 — SECURITIES LENDING

Under an agreement with BNY, the Portfolio can lend its securities to approved brokers, dealers and other financial institutions. Loans are collateralized by cash and U.S. government securities. The collateral must be in an amount equal to at least 105% of the market value of non-U.S. securities loaned and 102% of the market value of U.S. securities loaned. The cash collateral received is invested in approved investments as defined in the Securities Lending Agreement with BNY (the "Agreement"). The securities purchased with cash collateral received are reflected in the Portfolio of Investments. Generally, in the event of counterparty default, the Portfolio has the right to use the collateral to offset losses incurred. The Agreement contains certain guarantees by BNY in the event of counterparty default and/or a borrower's failure to return a loaned security, however there would be a potential loss to the Portfolio in the event the Portfolio is delayed or prevented from exercising its right to dispose of the collateral. The Portfolio bears the risk of loss with respect to the investment of collateral. Engaging in securities lending could have a leveraging effect, which may intensify the credit, market and other risks associated with investing in the Portfolio. At June 30, 2007, the Portfolio had securities on loan valued at $10,439,153 with collateral valued at $10,809,000.

NOTE 11 — FEDERAL INCOME TAXES

The amount of distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. generally accepted accounting principles for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of short-term capital gains, foreign currency

13

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 11 — FEDERAL INCOME TAXES (continued)

transactions, and wash sale deferrals. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as distributions of paid-in capital.

Dividends paid by the Portfolio from net investment income and distributions of net realized short-term capital gains are, for federal income tax purposes, taxable as ordinary income to shareholders.

The tax composition of dividends and distributions to shareholders was as follows:

Six Months Ended June 30, 2007		Year Ended December 31, 2006
Ordinary Income		Ordinary Income
$	918,097	$	2,342,990

The tax-basis components of distributable earnings as of December 31, 2006 were:

Undistributed Ordinary Income		Undistributed Long Term Capital Gains		Unrealized Appreciation		Post-October Currency Losses Deferred
$	3,757,015	$	1,561,994	$	9,867,146	$	(7,184	)

NOTE 12 — OTHER ACCOUNTING PRONOUNCEMENTS

In June 2006, the Financial Accounting Standards Board ("FASB") issued FASB Interpretation No. 48 ("FIN 48"), "Accounting for Uncertainty in Income Taxes." This standard defines the threshold for recognizing the benefits of tax-return positions in the financial statements as "more-likely-than-not" to be sustained upon challenge by the taxing authority and requires measurement of a tax position meeting the more-likely-than-not criterion, based on the largest benefit that is more than 50 percent likely to be realized. FIN 48 is effective for fiscal years beginning after December 15, 2006, with early application permitted if no interim financial statements have been issued. However, acknowledging the unique issues that FIN 48 presents for investment companies that calculate NAVs, the SEC has indicated that they would not object if a fund implements FIN 48 in its NAV calculation as late as its last NAV calculation in the first required financial statement reporting period for its fiscal year beginning after December 15, 2006. For calendar year-end funds, this would be no later than their June 29, 2007 NAV and the effects of FIN 48 would be reflected in the funds' semi-annual financial statements contained in their Form N-CSR filing. At adoption, companies must adjust their financial statements to reflect only those tax positions that are more likely-than-not to be sustained as of the adoption date. Management of the Portfolio has analyzed the tax positions of the Portfolio. To date, this analysis reflects no uncertain tax positions that have not met the more likely-than-not standard.

On September 15, 2006, the FASB issued Statement of Financial Accounting Standards No. 157 ("SFAS No. 157"), "Fair Value Measurements." The new accounting statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles ("GAAP"), and expands disclosures about fair value measurements. SFAS No. 157 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). SFAS No. 157 also stipulates that, as a market-based measurement, fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability, and establishes a fair value hierarchy that distinguishes between (a) market participant assumptions developed based on market data obtained from sources independent of the reporting entity (obse rvable inputs) and (b) the reporting entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007. As of June 30, 2007, management of the Portfolio is currently assessing the impact, if any, that will result from adopting SFAS No. 157.

14

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 13 — INFORMATION REGARDING TRADING OF ING'S U.S. MUTUAL FUNDS

ING Investments reported to the Boards of Directors/Trustees (the "Boards") of the ING Funds that, like many U.S. financial services companies, ING Investments and certain of its U.S. affiliates have received informal and formal requests for information since September 2003 from various governmental and self-regulatory agencies in connection with investigations related to mutual funds and variable insurance products. ING Investments has advised the Boards that it and its affiliates have cooperated fully with each request.

In addition to responding to regulatory and governmental requests, ING Investments reported that management of U.S. affiliates of ING Groep, including ING Investments (collectively, "ING"), on their own initiative, have conducted, through independent special counsel and a national accounting firm, an extensive internal review of trading in ING insurance, retirement, and mutual fund products. The goal of this review was to identify any instances of inappropriate trading in those products by third parties or by ING investment professionals and other ING personnel. ING's internal review related to mutual fund trading is now substantially completed. ING has reported that, of the millions of customer relationships that ING maintains, the internal review identified several isolated arrangements allowing third parties to engage in frequent trading of mutual funds within ING's variable insurance and mutual fund products, and identified other circums tances where frequent trading occurred, despite measures taken by ING intended to combat market timing. ING further reported that each of these arrangements has been terminated and fully disclosed to regulators. The results of the internal review were also reported to the independent members of the Boards.

ING Investments has advised the Boards that most of the identified arrangements were initiated prior to ING's acquisition of the businesses in question in the U.S. ING Investments further reported that the companies in question did not receive special benefits in return for any of these arrangements, which have all been terminated.

Based on the internal review, ING Investments has advised the Boards that the identified arrangements do not represent a systemic problem in any of the companies that were involved.

In September 2005, IFD, the distributor of certain ING Funds, settled an administrative proceeding with the NASD regarding three arrangements, dating from 1995, 1996 and 1998, under which the administrator to the then-Pilgrim Funds, which subsequently became part of the ING Funds, entered into formal and informal arrangements that permitted frequent trading. Under the terms of the Letter of Acceptance, Waiver and Consent ("AWC") with the NASD, under which IFD neither admitted nor denied the allegations or findings, IFD consented to the following sanctions: (i) a censure; (ii) a fine of $1.5 million; (iii) restitution of approximately $1.44 million to certain ING Funds for losses attributable to excessive trading described in the AWC; and (iv) agreement to make certification to NASD regarding the review and establishment of certain procedures.

In addition to the arrangements discussed above, ING Investments reported to the Boards that, at this time, these instances include the following, in addition to the arrangements subject to the AWC discussed above:

•  Aeltus Investment Management, Inc. (a predecessor entity to ING Investment Management Co.) identified two investment professionals who engaged in extensive frequent trading in certain ING Funds. One was subsequently terminated for cause and incurred substantial financial penalties in connection with this conduct and the second has been disciplined.

•  ReliaStar Life Insurance Company ("ReliaStar") entered into agreements seven years ago permitting the owner of policies issued by the insurer to engage in frequent trading and to submit orders until 4pm Central Time. In 2001 ReliaStar also entered into a selling agreement with a broker-dealer that engaged in frequent trading. Employees of ING affiliates were terminated and/or disciplined in connection with these matters.

•  In 1998, Golden American Life Insurance Company entered into arrangements permitting a broker-dealer to frequently trade up to certain specific limits in a fund available in an ING variable annuity product. No employee responsible for this arrangement remains at the company.

For additional information regarding these matters, you may consult the Form 8-K and Form 8-K/A for each of four life insurance companies, ING USA Annuity and Life Insurance Company, ILIAC, ING Insurance Company of America, and ReliaStar Life Insurance Company of New York, each filed with the SEC on October 29, 2004 and September 8, 2004. These Forms 8-K and Forms 8-K/A can be accessed through the SEC's Web site at

15

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 13 — INFORMATION REGARDING TRADING OF ING'S U.S. MUTUAL FUNDS (continued)

http://www.sec.gov. Despite the extensive internal review conducted through independent special counsel and a national accounting firm, there can be no assurance that the instances of inappropriate trading reported to the Boards are the only instances of such trading respecting the ING Funds.

ING Investments reported to the Boards that ING is committed to conducting its business with the highest standards of ethical conduct with zero tolerance for noncompliance. Accordingly, ING Investments advised the Boards that ING management was disappointed that its voluntary internal review identified these situations. Viewed in the context of the breadth and magnitude of its U.S. business as a whole, ING management does not believe that ING's acquired companies had systemic ethical or compliance issues in these areas. Nonetheless, Investments reported that given ING's refusal to tolerate any lapses, it has taken the steps noted below, and will continue to seek opportunities to further strengthen the internal controls of its affiliates.

•  ING has agreed with the ING Funds to indemnify and hold harmless the ING Funds from all damages resulting from wrongful conduct by ING or its employees or from ING's internal investigation, any investigations conducted by any governmental or self-regulatory agencies, litigation or other formal proceedings, including any proceedings by the SEC. ING Investments reported to the Boards that ING management believes that the total amount of any indemnification obligations will not be material to ING or its U.S. business.

•  ING updated its Code of Conduct for employees reinforcing its employees' obligation to conduct personal trading activity consistent with the law, disclosed limits, and other requirements.

•  The ING Funds, upon a recommendation from ING, updated their respective Codes of Ethics applicable to investment professionals with ING entities and certain other fund personnel, requiring such personnel to pre-clear any purchases or sales of ING Funds that are not systematic in nature (i.e., dividend reinvestment), and imposing minimum holding periods for shares of ING Funds.

•  ING instituted excessive trading policies for all customers in its variable insurance and retirement products and for shareholders of the ING Funds sold to the public through financial intermediaries. ING does not make exceptions to these policies.

•  ING reorganized and expanded its U.S. Compliance Department, and created an Enterprise Compliance team to enhance controls and consistency in regulatory compliance.

Other Regulatory Matters

The New York Attorney General (the "NYAG") and other federal and state regulators are also conducting broad inquiries and investigations involving the insurance industry. These initiatives currently focus on, among other things, compensation and other sales incentives; potential conflicts of interest; potential anti-competitive activity; reinsurance; marketing practices (including suitability); specific product types (including group annuities and indexed annuities); fund selection for investment products and brokerage sales; and disclosure. It is likely that the scope of these industry investigations will further broaden before they conclude. ING has received formal and informal requests in connection with such investigations, and is cooperating fully with each request. In connection with one such investigation, affiliates of ING Investments were named in a petition for relief and cease and desist order filed by the New Hampshire Bureau of Securities Regulation (the "NH Bureau") concerning their administration of the New Hampshire state employees deferred compensation plan.

On October 10, 2006, an affiliate of ING Investments entered into an assurance of discontinuance with the NYAG (the "NYAG Agreement") regarding the endorsement of its products by the New York State United Teachers Union Member Benefits Trust ("NYSUT") and the sale of their products to NYSUT members. Under the terms of the NYAG Agreement, the affiliate of ING Investments, without admitting or denying the NYAG's findings, will distribute $30 million to NYSUT members, and/or former NYSUT members, who participated in the NYSUT-endorsed products at any point between January 1, 2001 and June 30, 2006. The affiliate also agreed with the NYAG's office to develop a one-page disclosure that will further improve transparency and disclosure regarding retirement product fees (the "One-Page Disclosure"). Pursuant to the terms of the NYAG Agreement, the affiliate has agreed for a five year period to provide its retirement product customers with the One-Pag e Disclosure.

16

NOTES TO FINANCIAL STATEMENTS AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 13 — INFORMATION REGARDING TRADING OF ING'S U.S. MUTUAL FUNDS (continued)

In addition, on the same date, these affiliates of ING Investments entered into a consent agreement with the NH Bureau (the "NH Agreement") to resolve this petition for relief and cease and desist order. Under the terms of the NH Agreement, these affiliates of ING Investments, without admitting or denying the NH Bureau's claims, have agreed to pay $3 million to resolve the matter, and for a five year period to provide their retirement product customers with the One-Page Disclosure described above.

Other federal and state regulators could initiate similar actions in this or other areas of ING's businesses.

These regulatory initiatives may result in new legislation and regulation that could significantly affect the financial services industry, including businesses in which ING is engaged.

In light of these and other developments, ING continuously reviews whether modifications to its business practices are appropriate.

At this time, in light of the current regulatory factors, ING U.S. is actively engaged in reviewing whether any modifications in our practices are appropriate for the future.

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased fund redemptions, reduced sale of fund shares, or other adverse consequences to ING Funds.

NOTE 14 — SUBSEQUENT EVENTS

Dividends: Subsequent to June 30, 2007, the Portfolio declared dividends and distributions of:

PER SHARE AMOUNTS
Net Investment Income		Short-Term Capital Gains		Long-Term Capital Gains		Payable Date	Record Date
$	0.1517	$	0.5556	$	0.2619	August 3, 2007	July 31, 2007

17

  PORTFOLIO OF INVESTMENTS
ING VP GLOBAL EQUITY DIVIDEND PORTFOLIO  AS OF JUNE 30, 2007 (UNAUDITED)

Shares				Value
COMMON STOCK: 95.3%
			Australia: 8.2%
	26,686		Australia & New Zealand Banking Group Ltd.	$	655,440
	39,854		Coca-Cola Amatil Ltd.		321,773
	112,512		Foster's Group Ltd.		607,152
	124,742		Insurance Australia Group Ltd.		601,700
	20,006		Publishing & Broadcasting Ltd.		331,533
	45,519		Stockland		313,584
	26,109		Suncorp-Metway Ltd.		445,922
	22,376		TABCORP Holdings Ltd.		325,117
	19,196	L	Wesfarmers Ltd.		743,273
	35,594	L	Westfield Group		600,587
					4,946,081
			Belgium: 2.6%
	13,819		Belgacom SA		611,608
	8,047		Elia System Operator SA		327,034
	14,974	L	Fortis		635,260
					1,573,902
			Brazil: 2.6%
	5,666	L	Cia Siderurgica Nacional SA ADR		293,046
	6,343		Petroleo Brasileiro SA ADR		676,671
	32,089	L	Tele Norte Leste Participacoes SA ADR		608,728
					1,578,445
			Canada: 5.9%
	24,870		BCE, Inc.		941,803
	2,836	@,#,X	Bell Aliant Regional Communications Income Fund		83,463

Shares				Value
	10,547		Bell Aliant Regional Communications Income Fund	$	310,395
	7,495		Enerplus Resources Fund		352,865
	12,816	L	Fording Canadian Coal Trust		420,621
	31,365		Precision Drilling Trust		765,539
	20,108	L	TransCanada Corp.		691,628
					3,566,314
			China: 1.2%
	497,417		PetroChina Co., Ltd.		738,836
					738,836
			Denmark: 1.0%
	14,343		Danske Bank A/S		586,517
					586,517
			France: 4.0%
	5,111		BNP Paribas		607,103
	19,942	L	France Telecom SA		546,938
	3,194		Societe Generale		591,779
	15,284		Vivendi		657,483
					2,403,303
			Germany: 1.0%
	32,462		Deutsche Telekom AG		597,869
					597,869
			Greece: 1.0%
	16,210		OPAP SA		572,752
					572,752
			Hong Kong: 1.1%
	71,362		Citic Pacific Ltd.		357,693
	40,808		CLP Holdings Ltd.		273,934
					631,627
			Hungary: 1.1%
	24,306		Magyar Telekom Telecommunications PLC ADR		677,165
					677,165
			Ireland: 0.9%
	20,767		Allied Irish Banks PLC		567,489
					567,489
			Israel: 0.6%
	74,173		Bank Hapoalim BM		361,363
					361,363
			Italy: 7.8%
	68,926	L	Enel S.p.A.		740,888
	26,557		ENI S.p.A.		962,888
	83,616		Intesa Sanpaolo S.p.A.		623,419
	58,700	L	Mediaset S.p.A.		606,365
	102,092		Snam Rete Gas S.p.A.		603,680
	271,439		Telecom Italia S.p.A. RNC		601,575
	64,857		UniCredito Italiano S.p.A.		579,277
					4,718,092
			Netherlands: 2.2%
	13,889		ABN Amro Holding NV		636,843
	15,713		Royal Dutch Shell PLC		639,492
	708	L	Royal Dutch Shell PLC - Class A		28,823
					1,305,158

See Accompanying Notes to Financial Statements
18

  PORTFOLIO OF INVESTMENTS
ING VP GLOBAL EQUITY DIVIDEND PORTFOLIO  AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares				Value
			New Zealand: 0.5%
	91,655		Telecom Corp. of New Zealand Ltd.	$	321,489
					321,489
			Norway: 1.0%
	46,264		DNB NOR ASA		595,079
					595,079
			Poland: 1.2%
	83,110		Telekomunikacja Polska SA		723,638
					723,638
			Singapore: 1.0%
	40,000	L	United Overseas Bank Ltd.		575,022
					575,022
			South Africa: 0.8%
	19,582		Telkom SA Ltd.		493,050
					493,050
			South Korea: 1.1%
	13,188		KT Corp. ADR		309,390
	4,582		S-Oil Corp.		352,643
					662,033
			Sweden: 0.9%
	34,134		Svenska Cellulosa AB		570,821
					570,821
			Taiwan: 1.0%
	56,553	L	Taiwan Semiconductor Manufacturing Co., Ltd. ADR		629,435
					629,435
			Thailand: 0.9%
	110,100		Advanced Info Service PCL		270,964
	36,100		Siam Cement PCL		280,306
					551,270
			United Kingdom: 16.8%
	36,997		Aviva PLC		549,210
	41,353		Barclays PLC		575,341
	57,143		BBA Aviation PLC		310,174
	55,075		BP PLC		662,680
	18,412		British American Tobacco PLC		627,950
	28,698		Diageo PLC		596,485
	180,624		DSG International PLC		572,503
	24,521		GlaxoSmithKline PLC		638,772
	53,845		Hiscox Ltd.		307,402
	33,679		HSBC Holdings PLC		616,679
	196,429		Legal & General Group PLC		589,299
	52,866		Lloyds TSB Group PLC		587,677
	14,994		Provident Financial PLC		209,865
	73,968		Royal Bank of Scotland Group PLC		935,953
	48,064		Scottish & Newcastle PLC		616,129
	20,050		Severn Trent PLC		553,721
	52,000		Tate & Lyle PLC		590,110
	40,965		United Utilities PLC		581,939
					10,121,889

Shares				Value
			United States: 28.9%
	7,559		AGL Resources, Inc.	$	305,988
	13,022		Altria Group, Inc.		913,363
	11,476	L	Ameren Corp.		562,439
	9,658	L	American Capital Strategies Ltd.		410,658
	10,978	L	Arthur J Gallagher & Co.		306,067
	16,517		AT&T, Inc.		685,456
	18,418		Bank of America Corp.		900,456
	21,550		Bristol-Myers Squibb Co.		680,118
	16,913		Citigroup, Inc.		867,468
	41,647		Citizens Communications Co.		635,950
	12,601		Consolidated Edison, Inc.		568,557
	3,607		Developers Diversified Realty Corp.		190,125
	13,575		Dow Chemical Co.		600,287
	15,443		Duke Energy Corp.		282,607
	6,281		Duke Realty Corp.		224,043
	12,496	L	Energy East Corp.		326,021
	7,710		Fifth Third Bancorp.		306,627
	15,410	L	First Horizon National Corp.		600,990
	7,010		Hospitality Properties Trust		290,845
	6,448		iStar Financial, Inc.		285,840
	17,209		Keycorp.		590,785
	8,490		Kinder Morgan Energy Partners LP		468,563
	4,720		Liberty Property Trust		207,350
	28,302		NiSource, Inc.		586,134
	33,788		Pfizer, Inc.		863,959
	7,246		Rayonier, Inc.		327,084
	9,670	L	Reynolds American, Inc.		630,484
	16,937	L	Southern Co.		580,770
	11,550		Spectra Energy Corp.		299,838
	17,452		US Bancorp.		575,043
	17,221		UST, Inc.		924,940
	10,814		Wachovia Corp.		554,218
	20,599	L	Washington Mutual, Inc.		878,341
					17,431,414
			Total Common Stock (Cost $48,147,884 )		57,500,053
EQUITY-LINKED SECURITIES: 0.6%
			Luxembourg: 0.6%
	153,298	@,X	Formosa Chemicals & Fibre Corp. (Counterparty: Merrill)		354,118
			Total Equity-Linked Securities (Cost $229,323 )		354,118
WARRANTS: 1.6%
			Ireland: 0.5%
	439,000	@,X	Mega Financial Holding Co., Ltd		298,520
					298,520
			Luxembourg: 1.1%
	258,037	@,#,X	Lite-On Technology Corp.		332,868
	67,000	@,X	Novatek Microelectronics Corp., Ltd.		350,410
					683,278
			Total Warrants (Cost $970,150 )		981,798
			Total Long-Term Investments (Cost $49,347,357)		58,835,969

See Accompanying Notes to Financial Statements
19

  PORTFOLIO OF INVESTMENTS
ING VP GLOBAL EQUITY DIVIDEND PORTFOLIO  AS OF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount					Value
SHORT-TERM INVESTMENTS: 17.9%
Securities Lending Collateralcc: 17.9%
$	10,809,000	The Bank of New York Institutional Cash Reserves Fund			$	10,809,000
		Total Short-Term Investments (Cost $10,809,000)				10,809,000
		Total Investments in Securities (Cost $60,156,357)*	115.4	%		$69,644,969
		Other Assets and Liabilities-Net	(15.4	)		(9,318,845	)
		Net Assets	100.0	%	$	60,326,124

@  Non-income producing security

ADR  American Depositary Receipt

#  Securities with purchases pursuant to Rule 144A, under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise footnoted, these securities have been determined to be liquid under the guidelines established by the Funds' Board of Directors/Trustees.

cc  Securities purchased with cash collateral for securities loaned.

L  Loaned security, a portion or all of the security is on loan at June 30, 2007.

X  Fair value determined by ING Funds Valuation Committee appointed by the Funds' Board of Directors/Trustees.

*  Cost for federal income tax purposes is $60,448,648.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	9,845,037
Gross Unrealized Depreciation		(648,716	)
Net Unrealized Appreciation	$	9,196,321

Industry	Percentage of Net Assets
Aerospace/Defense		0.5	%
Agriculture		5.1
Banks		22.7
Beverages		3.6
Building Materials		0.5
Chemicals		1.6
Coal		0.7
Computers		0.5
Diversified Financial Services		2.3
Electric		6.1
Entertainment		1.5
Food		1.0
Forest Products & Paper		0.9
Gas		2.5
Holding Companies - Diversified		0.6
Insurance		3.9
Investment Companies		0.7
Iron/Steel		0.5
Media		2.6
Miscellaneous Manufacturing		1.2
Oil & Gas		8.6
Pharmaceuticals		3.6
Pipelines		2.4
Real Estate		1.5
Real Estate Investment Trusts		2.5
Retail		0.9
Savings & Loans		1.5
Semiconductors		1.6
Telecommunications		14.0
Water		1.9
Short-Term Investments		17.9
Other Assets and Liabilities - Net		(15.4	)
Net Assets		100.0	%

See Accompanying Notes to Financial Statements
20

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Investment Adviser

ING Investments, LLC
7337 East Doubletree Ranch Road
Scottsdale, Arizona 85258

Administrator

ING Funds Services, LLC
7337 East Doubletree Ranch Road
Scottsdale, Arizona 85258

Distributor

ING Funds Distributor, LLC
7337 East Doubletree Ranch Road
Scottsdale, Arizona 85258

Transfer Agent

DST Systems, Inc.
P.O. Box 419368
Kansas City, Missouri 64141

Custodian

The Bank of New York Mellon Corporation
One Wall Street
New York, New York 10286

Legal Counsel

Dechert LLP
1775 I Street, N.W.
Washington, D.C. 20006

Before investing, carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and the underlying variable investment options. This and other information is contained in the prospectus for the variable annuity contract and the underlying variable investment options. Obtain these prospectuses from your agent/registered representative and read them carefully before investing.

VPSAR-UGED (0607-082107)

Funds

Semi-Annual Report

June 30, 2007

ING GET U.S. Core Portfolio

n Series 1

n Series 2

n Series 3

n Series 4

n Series 5

n Series 6

n Series 7

n Series 8

n Series 9

n Series 10

n Series 11

n Series 12

n Series 13

n Series 14

This report is submitted for general information to shareholders of the ING Funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully.

TABLE OF CONTENTS

President’s Letter	1
Market Perspective	2
Investment Strategy and Principal Risks	4
Shareholder Expense Examples	8
Statements of Assets and Liabilities	10
Statements of Operations	14
Statements of Changes in Net Assets	18
Financial Highlights	25
Notes to Financial Statements	39
Portfolios of Investments	51
Advisory Contract Approval Discussion	135

PROXY VOTING INFORMATION

A description of the policies and procedures that the Series use to determine how to vote proxies related to portfolio securities is available (1) without charge, upon request by calling Shareholder Services toll-free at (800) 992-0180; (2) on the ING Funds’ website at www.ingfunds.com; and (3) on the SEC website at www.sec.gov. Information regarding how the Series voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the ING Funds’ website at www.ingfunds.com and on the SEC’s website at www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS

The Series files their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Series’ Forms N-Q are available on the SEC’s website at www.sec.gov. The Series’ Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC, and information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330; and is available upon request from the Portfolios by calling Shareholder Services toll-free at (800) 992-0180.

PRESIDENT’S LETTER

Dear Shareholder,

So far, it has been a volatile year in the markets. In February, we saw an unprecedented, single-day freefall in Chinese stocks that sent tremors throughout global markets. Closer to home, we witnessed a downturn in the U.S. sub-prime mortgage industry that continues to impact fixed income investments as well as real estate and equity markets worldwide.

When friends and colleagues in the industry voice concerns about the market’s recent volatility, I remind them that such ongoing events are fairly normal and that they underscore the importance of a well-diversified investment strategy. Studies have shown that an investment strategy allocated across a diverse group of asset classes and investment sectors can help provide an investor with solid footing for the long-term despite the short-term commotions.

We at ING Funds remain committed to providing our clients with a diverse and

comprehensive line-up of innovative investment products — all designed to offer solutions to your investment needs. Whatever your investing goals, we look forward to continuing to serve you.

Shaun Mathews

President

ING Funds

August 10, 2007

The views expressed in the President’s Letter reflect those of the President as of the date of the letter. Any such views are subject to change at any time based upon market or other conditions and ING Funds disclaims any responsibility to update such views. These views may not be relied on as investment advice and because investment decisions for an ING Fund are based on numerous factors, may not be relied on as an indication of investment intent on behalf of any ING Fund. Reference to specific company securities should not be construed as recommendations or investment advice.

International investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic.

1

MARKET PERSPECTIVE:  SIX MONTHS ENDED JUNE 30, 2007

Investors will remember early 2007 for the well-anticipated shocks and corrections that finally struck. But global equities markets soon recovered their poise and provided good gains through May 2007 before some nervousness returned in June 2007. For the six months ended June 30, 2007, the Morgan Stanley Capital International World Index^SM(1) (“MSCI World Index”) measured in local currencies, including net reinvested dividends (“MSCI” for regions discussed below) added 8.2%. In currencies, the dollar’s early strides were retraced on the (perceived) certainty that European interest rates were on the way up, while those in the U.S. were not. The euro made a new closing high and the pound reached the best level in 25 years against the dollar. The yen however buckled under the “carry trade”, in which speculators borrow in yen at low interest and buy higher yielding securities in other currencies. For the six months ended June 30, 2007, the dollar fell 2.5% against the euro and the pound, but gained 3.5% on the yen.

U.S. markets entered 2007 against a backdrop of a stable federal funds rate since June 2007. A slowing economy dragged by a slumping housing market seemed to be on the rebound in December 2006. The early reports in 2007 sustained this view, with unexpectedly strong employment, retail sales and confidence readings, as well as robust increases in housing starts and pending home sales. The first estimate of fourth quarter gross domestic product (“GDP”) growth was an impressive 3.5%.

But from February 2007, it soon became apparent that the improvement in housing figures only reflected the mild weather of early winter. New starts, sales and prices were now falling. GDP growth was sharply revised down to 2.5%. To make matters worse, the country’s largest sub-prime mortgage lenders were reporting major losses.

February 2007 was an unsettling month in other ways. The China stock market had practically doubled in 2006 and the long expected pull back eventually came on February 27^th when the index fell 9%. The effect on sentiment was to shake relative risk strategies generally.

The housing gloom continued into the second quarter. Foreclosures in May 2007 were 90% higher than one year earlier. Existing housing prices fell in the first quarter year over year for the first time since 1991. The sub-prime dragon reared its head again in June 2007 when the investment bank, Bear Stearns, had to rescue two of its hedge funds in distress over holdings in mortgage bonds. The effect on GDP was clear. Growth

in the latest quarter was finalized at just 0.69% annualized, the lowest since 2003.

Yet the feeling persisted that while the sub-prime debacle was serious, the chance of it tripping the economy into recession was remote. Unemployment remained light at 4.5%. The consumer was still spending, although as June ended high gasoline prices were weighing on consumer confidence. And the chances of a rate cut had all but vanished as the Federal Open Market Committee (“FOMC”) in leaving the federal funds rate at 5.25%, made it clear that “…a sustained moderation in inflation pressures has yet to be convincingly demonstrated.”

In U.S. fixed income markets the yield curve became steeper, with the yield on the ten-year Treasury Note making a five-year high before slipping to 5.03%, up 32 basis points (0.32%) for the six months ended June 30, 2007, while that on the three-month Bill fell 22 basis points (0.22%) to 4.67%. This surely reflected the confidence-shaking events of February 2007, as well as the FOMC’s somewhat curious removal of its tightening bias on March 21, 2007, while still citing inflation as the predominant concern. For the six months ended June 30, 2007, the Lehman Brothers^® Aggregate Bond Index⁽²⁾ (“LBAB”) of investment grade bonds returned just 98 basis points (0.98%).

U.S. equities, represented by the Standard & Poor’s 500^® Composite Stock Price Index⁽³⁾ (“S&P 500^® Index”) including dividends, rose 7.0%, finally breaching its March 2000 record. Investors might have been depressed in anticipation of the first quarter in fifteen with less than double-digit year-over-year percentage profits growth for companies that make up the S&P 500^® Index. But the earnings growth rate of 8.6% that emerged was much better than had been feared. Sentiment was also boosted by takeover activity, much of it from private equity firms able to draw from an apparently bottomless well of liquidity. By early June 2007 however, nerves were getting frayed as 10-year bond yields pushed through 5% and on the Bear Stearns’ news, unlikely to be an isolated case. Led by financials and the interest sensitive utilities sectors, the S&P 500^® Index gave back 1.7% in June.

Internationally, the MSCI Japan^® Index⁽⁴⁾ rose 6.6% for the six month ended June 30, 2007, amid the usual contradictory mix of economic statistics. GDP growth held up well after the fastest quarterly expansion in three years. Unemployment remained at a nine-year low. But consumer prices and wages started falling again, forcing the Bank of Japan, which raised interest

2

MARKET PERSPECTIVE:  SIX MONTHS ENDED JUNE 30, 2007

rates in February 2007 to a still wafer-thin 0.5%, to leave them there, keeping the carry trade in business. The MSCI Europe ex UK^® Index⁽⁵⁾ surged 11.2% on the basis of high consumer and business confidence, the lowest Eurozone unemployment since records began, the fastest GDP growth in years and continuing merger and acquisition activity. But June 2007 saw sentiment tail off somewhat as the ascending euro threatened exports and the European Central Bank raised rates for the eighth time since late 2005. In the UK, a housing boom and robust service sector had raised year over year GDP growth to 3.0% amid buoyant retail sales, confident consumers and record profits for non-financial companies. The MSCI UK^® Index⁽⁶⁾ advanced 8.1% for the six months ended June 30, 2007, although again slipping in June as home price inflation and retail sales cooled after the Bank of England raised rates to 5.5%, a six-year high.

⁽¹⁾  The MSCI World Index^SM is an unmanaged index that measures the performance of over 1,400 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East.

⁽²⁾  The LBAB Index is a widely recognized, unmanaged index of publicly issued investment grade U.S. Government, mortgage-backed, asset-backed and corporate debt securities.

⁽³⁾  The S&P 500^® Index is an unmanaged index that measures the performance of securities of approximately 500 of the largest companies in the United States.

⁽⁴⁾  The MSCI Japan^® Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan.

⁽⁵⁾  The MSCI Europe ex UK^® Index is a free float rising adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK.

⁽⁶⁾  The MSCI UK^® Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK.

All indices are unmanaged and investors cannot invest directly in an index.

Past performance does not guarantee future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. The Portfolios’ performance is subject to change since the period’s end and may be lower or higher than the performance data shown. Please call (800) 992-0180 or log on to www.ingfunds.com to obtain performance data current to the most recent month end.

Market Perspective reflects the views of ING’s Chief Investment Risk Officer only through the end of the period, and is subject to change based on market and other conditions.

3

ING GET U.S. CORE PORTFOLIO INVESTMENT STRATEGY AND PRINCIPAL RISKS

What is the Investment Strategy During the Guarantee Period?

ING GET U.S. Core Portfolio — Series 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 (“Series”) do not implement an “investment strategy” in a conventional sense. Rather, the Series’ asset allocation strategy seeks to optimize the exposure of the Series to the equity component (“Equity Component”) while protecting Series assets. Assets allocated to the Equity Component may be reduced or eliminated in order to conserve assets at a level equal to or above the present value of the guarantee (“Guarantee”). The Series allocate their assets among the following asset classes:

During the Guarantee Period, the Series’ assets will be allocated between the:

• Equity Component, consisting of common stocks included in the Standard & Poor’s 500^® Composite Stock Price Index (“S&P 500^® Index”) futures contracts on the S&P 500^® Index, and when the Equity Component’s market value is $5 million or less, investments in exchange traded funds (“ETFs”) that can reasonably be expected to have at least a 95% correlation ratio with the S&P 500^® Index, in S&P 500^® Index futures, or in a combination of S&P 500^® Index futures and ETFs, subject to any limitation on the Series’ investments in such securities and the

• Fixed component (“Fixed Component”) consisting primarily of short-to intermediate-duration U.S. government securities.

The Series’ asset allocation strategy is implemented by allocating assets appropriately to the Equity Component and to the Fixed Component to optimize exposure to the Equity Component while controlling the risk that an insurance company may be required to make payment under the Guarantee. Consequently, there can be no assurance as to the percentage of assets, if any, allocated to the Equity Component, even when the equity market is doing well, or to any investment returns generated by the Series.

How does the Series’ Asset Allocation work?

ING Investment Management Co. (“ING IM” or “Sub-Adviser”), the Sub-Adviser to the Series, uses a proprietary computer model to determine on a daily basis the percentage of assets allocated to the Equity Component and to the Fixed Component. The model evaluates a number of factors, including the then current market value of the Series, the then prevailing level of interest rates, equity market volatility, the Series’ total annual expenses, insurance company separate account expenses, and the maturity date (“Maturity Date”). The model determines the initial allocation between the Equity Component and the Fixed Component on the first day of the Guarantee Period and provides direction for any reallocations on a daily basis thereafter. Generally, as the value of the Equity Component rises, more assets are allocated to the Equity Component; as the value of the Equity Component declines, more assets are allocated to the Fixed Component. The amount directed to the Equity Component is always restricted so that even if it were to experience a “material decline” in value on a given day and before being redirected to the Fixed Component, the remaining assets would still be sufficient to meet the Guarantee. At the commencement of the Guarantee Period, the Series will define a “material decline” in value as a decline in the value of the Equity Component of at least 20% but no more than 30%. In the event the Series defines the “material decline” at 20%, more assets will likely be allocated to the Equity Component than if the “material decline” is defined at 30%. The allocation to the Equity Component or the Fixed Component may be zero under certain circumstances.

Equity Component: ING IM manages the Equity Component by overweighting those stocks in the S&P 500^® Index that it believes will outperform the S&P 500^® Index and underweighting (or avoiding altogether) those stocks it believes will underperform the S&P 500^® Index (“Enhanced Index Strategy”). Stocks ING IM believes are likely to match the performance of the S&P 500^® Index are invested in proportion to their representation in the Index. To determine which stocks to weight more or less heavily, ING IM uses internally developed quantitative computer models to evaluate various criteria, such as the financial strength of each company and its potential for strong, sustained earnings growth. ING IM expects that there will be a close correlation between the performance of the Equity Component and that of the S&P 500^® Index in both rising and falling markets.

Under normal market conditions, up to 20% of the Equity Component’s net assets may be invested in futures contracts for hedging purposes or to maintain liquidity to meet shareholder redemptions and minimize trading costs. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a

4

INVESTMENT STRATEGY AND PRINCIPAL RISKS ING GET U.S. CORE PORTFOLIO

financial instrument or a specific stock market index for a specified price on a designated date. During the Guarantee Period, the Series may only invest in futures contracts on the S&P 500^® Index and futures contracts on U.S. Treasury securities.

If the Equity Component’s market value is $5 million or less, in order to replicate an investment in stocks listed in the S&P 500^® Index, ING IM may invest the entire amount of the Equity Component’s assets in S&P 500^® Index futures, in ETFs, or in a combination of S&P 500^® Index futures and ETFs, subject to any limitation on the Series’ investment in such securities (subject to restrictions imposed by the Investment Company Act of 1940, as amended “1940 Act”). ETFs are passively managed investment companies traded on a securities exchange whose goal is to track or replicate a desired index. ING IM will not employ an enhanced index strategy when it invests in S&P 500^® Index futures and ETFs.

Fixed Component: ING IM seeks to select investments for the Fixed Component with financial characteristics that will, at any point in time, closely resemble those of a portfolio of zero coupon bonds which mature within three months of the Maturity Date. Generally, at least 55% of the Fixed Component will consist of securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, including STRIPS (Separate Trading of Registered Interest and Principal of Securities). Although the Series invest in securities insured or guaranteed by the U.S. government, the Series shares are not issued or guaranteed. STRIPS are created by the Federal Reserve Bank by separating the interest and principal components of an outstanding U.S. Treasury or agency bond and selling them as individual securities. The Fixed Component may also consist of mortgage-backed securities (including commercial mortgage-backed securities) which are rated AAA or Aaa at the time of purchase by Standard & Poor’s (“S&P^®“) or Moody’s Investors Service, Inc. (“Moody’s^®“), respectively, and corporate obligations which are rated at the time of purchase A- or higher by S&P^® and/or Aa3 or higher by Moody’s^®. The Fixed Component may also include U.S. Treasury futures and money market instruments. The Series may also invest in other investment companies to the extent permitted under the 1940 Act, and the rules and regulations thus under.

What are the Principal Guarantee Period Risks?

Allocation Risk: If, at the inception of, or any time during, the Guarantee Period interest rates are low, the Series’ assets may be largely invested in the Fixed Component in order to decrease the likelihood that an insurance company would be required to make any payment under the Guarantee. The effect of low interest rates on the Series would likely be more pronounced at the inception of the Guarantee Period, as the initial allocation of assets would include more fixed-income securities. In addition, if during the Guarantee Period the equity markets experienced a material decline, the Series’ assets may become largely invested in the Fixed Component. In fact, if the value of the Equity Component were to decline by a significant amount, a complete reallocation to the Fixed Component would likely occur. In the event of a reallocation of 100% of the assets to the Fixed Component, the Series would not reallocate any assets into the Equity Component prior to the Maturity Date. Use of the Fixed Component reduces the Series’ ability to participate as fully in upward equity market movements, and therefore represents some loss of opportunity, or opportunity cost, compared to a portfolio that is fully invested in equities.

Active Asset Allocation May Underperform Static Strategies: The asset allocation process results in transaction costs. Volatile periods in the market may increase these costs. This process can have an adverse effect on the performance of the Series during periods of increased equity market volatility. In addition, a high portfolio turnover rate, which may also have an adverse effect on the performance of the Series, may increase the Series’ transaction costs.

Opportunity Costs: There are substantial opportunity costs associated with an investment in the Series. The Series may allocate a substantial portion, and under certain circumstances all, of the Series’ assets to the Fixed Component in order to conserve Series assets to a level equal to or above the present value of the Guarantee.

Initially, if interest rates are low, the allocation to the Fixed Component may be over 70% of the Series’ assets. If the market value of the Equity Component rises, the percentage of the Series’ assets allocated to the Equity Component generally will also rise. However, the relative volatility of these two Components as well as the past performance of the Series will affect these allocations. For example, if the Series incurs early losses, the Series may allocate 100% of the Series’ assets to the Fixed Component for the entire Guarantee Period, irrespective of the subsequent upward movements in the equity markets and/or the Equity Component.

The extent to which the Series participates in upward movements in the Equity Component during the Guarantee Period will depend on the performance of the Series, the performance and volatility of the Fixed and Equity

5

ING GET U.S. CORE PORTFOLIO INVESTMENT STRATEGY AND PRINCIPAL RISKS

Components, interest rates, expenses of the Series and the separate account under the variable annuity contract, and other factors. The Series might capture a material portion, very little or none of any Equity Component increase.

It is possible that on the Maturity Date, a contract- holder or participant could receive only the guaranteed amount even though the equity markets, as well as the Equity Component, has had significant positive performance during the Guarantee Period.

When you hold your investment until the end of the 5-year or 7-year Guarantee Period, on the Guarantee Maturity Date your account will be worth no less than your investment at the inception of the Guarantee Period, less any redemptions and distributions you have received in cash, and certain Series expenses, such as interest, taxes and extraordinary expenses. If you sell shares during the Guarantee Period, shares are redeemed at the current net asset value (“NAV”) which may be worth more or less than your original investment and/or the NAV at the inception of the Guarantee Period. The guarantee is based on the beginning NAV on the first day of the Guarantee Period, not the public offering price, and does not apply to any earnings realized during the Guarantee Period. The guarantee is backed by insurance companies offering the Series. As with the sale of any securities, a taxable event may occur if the Series liquidates fixed-income securities at the end of the Guarantee Period.

Worst Case Scenarios for the Series’ Equity Participation: The opportunity cost of not allocating assets to the Equity Component will be particularly high if early in the Guarantee Period: (a) the Series’ NAV decreases; or (b) the value of the Equity Component declines. In either case, all or substantially all of the Series’ assets could be allocated to the Fixed Component for the remainder of the Guarantee Period.

Impact of Annuity Charges and Other Expenses: Contract-holders and Participants with interest in the Series through separate accounts are not subject to identical separate account charges. In its proprietary computer model, the Sub-Adviser uses an expense factor designed to have the Series produce a return which may cover some portion of these charges. The expense factor will be determined at the inception of the Guarantee Period. If the expense factor is set to cover the higher charges, the initial asset allocation to the Equity Component will be lower. Accordingly, the level of the expense factor chosen by the Series may represent a greater opportunity cost to Contract-holders and Participants with lower separate account charges. Regardless of where the expense factor is set, it will not affect the Guarantee payable by the insurance company.

Stock and Bond Investments: The risks associated with investing in stocks include sudden and unpredictable drops in the value of the market as a whole and periods of lackluster or negative performance. The performance of the Equity Component also depends significantly on ING IM’s skill in determining which securities to overweight, underweight or avoid altogether.

The principal risk associated with investing in bonds is that interest rates may rise, which generally causes bond prices to fall. The market prices of STRIPS generally are more volatile than the market prices of other fixed-income securities with similar maturities that pay interest periodically. With corporate bonds, there is a risk that the issuer will default on the payment of principal or interest.

With mortgage-backed securities, there is a risk of prepayment of the underlying mortgage. Because prepayments of principal generally occur when interest rates are declining, it is likely that the Series may have to reinvest the proceeds of prepayments at lower yields. In addition, with credit risk, the Series could lose money if the issuer of a debt security is unable to meet its financial obligations or goes bankrupt. This Series is subject to less credit risk than other funds because it principally invests in debt securities issued or guaranteed by the U.S. government or its agencies.

Declining Interest Rates: A decline in prevailing U.S. interest rates could materially increase the opportunity costs. Any such decline would increase the present value of the Guarantee, potentially causing the Series to allocate all or substantially all of the Series’ assets to the Fixed Component in order to assure that such assets do not fall below the Guarantee.

Futures Contracts: The Series may invest in futures contracts, which provide for the future sale by one party and purchase by another party of a specified amount of a financial instrument or a specific stock market index for a specified price on a designated date. The Series uses futures for hedging purposes or to temporarily increase or limit exposure to a particular asset class. The main risk with futures contracts is that they can amplify a gain or loss, potentially earning or losing substantially more money than the actual investment made in the futures contract.

6

INVESTMENT STRATEGY AND PRINCIPAL RISKS ING GET U.S. CORE PORTFOLIO

Other Investment Companies: The GET Series may invest in other investment companies to the extent permitted by the 1940 Act and the rules and regulations thereunder. These may include exchange-traded funds (“ETFs”) and Holding Company Depositary Receipts (“HOLDRs”), among others. ETFs are exchange-traded investment companies that are designed to provide investment results corresponding to an equity index and include, among others, Standard & Poor’s Depositary Receipts (“SPDRs”), PowerShares QQQ^™ (“QQQ”), Dow Jones Industrial Average Tracking Stocks (“Diamonds”) and iShares exchange-traded funds (“iShares”). The main risk of investing in other investment companies (including ETFs) is that the value of the underlying securities held by the investment company might decrease. The value of the underlying securities can fluctuate in response to activities of individual companies or in response to general market and/or economic conditions. Because the Series may invest in other investment companies, you will pay a proportionate share of expenses of that investment company. Additional risks of investments in ETFs include: (i) an active trading market for an ETF’s shares may not develop or be maintained or (ii) trading may be halted if the listing exchange’s officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market-wide “circuit breakers” (which are tied to large decreases in stock prices) halts trading generally. Because HOLDRs concentrate in the stocks of a particular industry, trends in that industry may have a dramatic impact on their value.

To seek to achieve a return on uninvested cash or for other reasons, the Series may invest its assets in ING Institutional Prime Money Market Fund and/or one or more other money market funds advised by ING affiliates (“ING Money Market Funds”). The Series’ purchase of shares of an ING Money Market Fund will result in the Series paying a proportionate share of the expenses of the ING Money Market Fund. The Adviser will waive its fee in an amount equal to the advisory fee received by the adviser of the ING Money Market Fund in which the Series invests resulting from the Series’ investment into the ING Money Market Fund.

Risks of Using Derivatives: Certain securities in which the Series may invest, including futures contracts, are derivative instruments. In general terms, a derivative instrument is a financial contract whose value is derived, at least in part, from the performance of an underlying asset, interest rate, or index. If the issuer of a derivative does not pay the amount owed on the contract when due, the Series can lose money on the investment. The underlying investment on which the derivative is based, and the derivative itself, might not perform in the manner the Sub-Adviser expected, which could cause the Series’ share price to decline. Markets underlying securities may move in a direction not anticipated by the Sub-Adviser, which may result in the Series realizing a lower return than expected on an investment.

7

SHAREHOLDER EXPENSE EXAMPLES (UNAUDITED)

As a shareholder of a Series, you incur two types of costs: (1) transaction costs, including redemption fees, and exchange fees; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Series expenses. These Examples are intended to help you understand your ongoing costs (in dollars) of investing in a Series and to compare these costs with the ongoing costs of investing in other mutual funds.

The Examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from January 1, 2007 to June 30, 2007, unless otherwise indicated. The Series’ expenses are shown without the imposition of any charges which are, or may be, imposed under your annuity contract. Expenses would have been higher if such charges were included.

Actual Expenses

The first section of the table shown, “Actual Series Return,” provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first section under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second section of the table shown, “Hypothetical 5% Return”, provides information about hypothetical account values and hypothetical expenses based on the Series actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Series actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Series and other mutual funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, redemption fees or exchange fees. Therefore, the hypothetical lines of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different mutual funds. In addition, if these transactional costs were included, your costs would have been higher.

8

SHAREHOLDER EXPENSE EXAMPLES (UNAUDITED) (CONTINUED)

ING GET U.S. Core Portfolio	Beginning Account Value January 1, 2007		Ending Account Value June 30, 2007		Annualized Expense Ratio		Expenses Paid During the Period Ended June 30, 2007*
Actual Series Return
Series 1	$	1,000.00	$	1,039.90	1.00	%	$	5.06
Series 2		1,000.00		1,033.60	1.00			5.04
Series 3		1,000.00		1,036.00	1.00			5.05
Series 4		1,000.00		1,039.80	0.97			4.91
Series 5		1,000.00		1,049.50	0.97			4.93
Series 6		1,000.00		1,043.70	0.99			5.02
Series 7		1,000.00		1,047.30	1.00			5.08
Series 8		1,000.00		1,048.90	1.00			5.08
Series 9		1,000.00		1,048.90	1.00			5.08
Series 10		1,000.00		1,043.00	1.00			5.07
Series 11		1,000.00		1,042.90	1.00			5.07
Series 12		1,000.00		1,050.20	1.00			5.08
Series 13		1,000.00		1,036.70	1.00			5.05
Series 14†		1,000.00		999.00	0.71			3.52
Hypothetical (5% return before expenses)
Series 1	$	1,000.00	$	1,019.84	1.00	%	$	5.01
Series 2		1,000.00		1,019.84	1.00			5.01
Series 3		1,000.00		1,019.84	1.00			5.01
Series 4		1,000.00		1,019.98	0.97			4.86
Series 5		1,000.00		1,019.98	0.97			4.86
Series 6		1,000.00		1,019.89	0.99			4.96
Series 7		1,000.00		1,019.84	1.00			5.01
Series 8		1,000.00		1,019.84	1.00			5.01
Series 9		1,000.00		1,019.84	1.00			5.01
Series 10		1,000.00		1,019.84	1.00			5.01
Series 11		1,000.00		1,019.84	1.00			5.01
Series 12		1,000.00		1,019.84	1.00			5.01
Series 13		1,000.00		1,019.84	1.00			5.01
Series 14		1,000.00		1,021.27	0.71			3.56

† Performance for Series 14 used in the calculation is the return since the date the Series entered the guarantee period, June 21, 2007.

* Expenses are equal to each Series’ respective annualized expense ratios multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half-year.

9

STATEMENTS OF ASSETS AND LIABILITIESASOF JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 1		Series 2		Series 3		Series 4
ASSETS:
Investments in securities at value*	$	101,929,936	$	76,408,896	$	107,886,873	$	49,369,400
Short-term investments in affiliates at amortized cost		—		400,000		100,000		20,000
Short-term investments at amortized cost		565,000		370,000		268,000		110,000
Cash		749		892		5,958		1,157
Receivables:
Investment securities sold		29,328		3,408,203		25,662		14,664
Dividends and interest		66,037		42,661		53,163		36,489
Prepaid expenses		559		450		646		271
Reimbursement due from manager		—		432		846		—
Total assets		102,591,609		80,631,534		108,341,148		49,551,981
LIABILITIES:
Payable for investment securities purchased		—		3,316,520		—		—
Payable for fund shares redeemed		22,901		340,996		97,256		3,098
Payable to affiliates		77,706		58,023		81,815		37,994
Payable for trustee fees		3,011		6,207		7,029		11,650
Other accrued expenses and liabilities		50,054		49,682		58,719		29,814
Total liabilities		153,672		3,771,428		244,819		82,556
NET ASSETS	$	102,437,937	$	76,860,106	$	108,096,329	$	49,469,425
NET ASSETS WERE COMPRISED OF:
Paid-in capital	$	93,533,049	$	72,072,083	$	102,753,263	$	44,146,048
Undistributed net investment income		915,187		755,296		977,626		583,774
Accumulated net realized gain on investments		2,697,497		2,393,362		588,274		2,020,728
Net unrealized appreciation on investments		5,292,204		1,639,365		3,777,166		2,718,875
NET ASSETS	$	102,437,937	$	76,860,106	$	108,096,329	$	49,469,425
*      Cost of investments in securities	$	96,637,732	$	74,769,531	$	104,109,707	$	46,650,525
Shares authorized		unlimited		unlimited		unlimited		unlimited
Par value	$	0.001	$	0.001	$	0.001	$	0.001
Shares outstanding		9,890,916		7,512,882		10,352,515		4,667,490
Net asset value and redemption price per share	$	10.36	$	10.23	$	10.44	$	10.60

See Accompanying Notes to Financial Statements

10

STATEMENTS OF ASSETS AND LIABILITIESASOF JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 5		Series 6		Series 7		Series 8
ASSETS:
Investments in securities at value*	$	33,967,855	$	69,234,256	$	48,595,172	$	31,138,748
Short-term investments in affiliates at amortized cost		5,000		100,000		5,000		74,000
Short-term investments at amortized cost		120,000		228,000		385,000		171,000
Cash		971		2,818		2,835		2,738
Receivables:
Investment securities sold		243,329		3,609,380		20,163		1,605,503
Dividends and interest		37,444		69,413		49,669		32,606
Prepaid expenses		169		398		312		187
Reimbursement due from manager		—		—		—		1,924
Total assets		34,374,768		73,244,265		49,058,151		33,026,706
LIABILITIES:
Payable for investment securities purchased		—		3,274,536		—		1,501,728
Payable for fund shares redeemed		11,959		4,065		6,332		144,170
Payable to affiliates		26,203		58,911		37,894		23,860
Payable for trustee fees		5,835		3,500		3,205		2,324
Other accrued expenses and liabilities		35,472		42,439		41,770		30,261
Total liabilities		79,469		3,383,451		89,201		1,702,343
NET ASSETS	$	34,295,299	$	69,860,814	$	48,968,950	$	31,324,363
NET ASSETS WERE COMPRISED OF:
Paid-in capital	$	29,661,094	$	61,594,001	$	42,166,308	$	27,145,598
Undistributed net investment income		206,181		493,888		359,172		223,406
Accumulated net realized gain on investments		1,574,686		3,291,454		2,699,139		1,840,881
Net unrealized appreciation on investments		2,853,338		4,481,471		3,744,331		2,114,478
NET ASSETS	$	34,295,299	$	69,860,814	$	48,968,950	$	31,324,363
*      Cost of investments in securities	$	31,114,517	$	64,752,785	$	44,850,841	$	29,024,270
Shares authorized		unlimited		unlimited		unlimited		unlimited
Par value	$	0.001	$	0.001	$	0.001	$	0.001
Shares outstanding		3,152,244		6,525,739		4,495,183		2,881,121
Net asset value and redemption price per share	$	10.88	$	10.71	$	10.89	$	10.87

See Accompanying Notes to Financial Statements

11

STATEMENTS OF ASSETS AND LIABILITIESASOF JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 9			Series 10		Series 11
ASSETS:
Investments in securities at value*	$	23,715,918		$	25,860,087	$	27,862,867
Short-term investments in affiliates at amortized cost		10,000	��		43,000		50,000
Short-term investments at amortized cost		187,000			267,000		137,000
Cash		2,454			2,339		3,726
Receivables:
Investment securities sold		1,354,313			9,165		10,998
Dividends and interest		25,035			25,853		28,395
Prepaid expenses		157			136		203
Reimbursement due from manager		—			5,003		—
Total assets		25,294,877			26,212,583		28,093,189
LIABILITIES:
Payable for investment securities purchased		1,290,546			—		—
Payable for fund shares redeemed		23,550			1,882		1,538
Payable to affiliates		19,940			20,010		23,847
Payable for trustee fees		3,092			2,934		884
Other accrued expenses and liabilities		27,385			34,861		35,958
Total liabilities		1,364,513			59,687		62,227
NET ASSETS	$	23,930,364		$	26,152,896	$	28,030,962
NET ASSETS WERE COMPRISED OF:
Paid-in capital	$	20,697,510		$	23,468,520	$	24,973,894
Undistributed net investment income		196,372			203,400		252,073
Accumulated net realized gain on investments		1,683,225			1,210,321		1,626,521
Net unrealized appreciation on investments		1,353,257			1,270,655		1,178,474
NET ASSETS	$	23,930,364		$	26,152,896	$	28,030,962
*      Cost of investments in securities	$	22,362,661		$	24,589,432	$	26,684,393
Shares authorized		unlimited			unlimited		unlimited
Par value	$	0.001		$	0.001	$	0.001
Shares outstanding		2,192,515			2,386,733		2,618,874
Net asset value and redemption price per share	$	10.91		$	10.96	$	10.70

See Accompanying Notes to Financial Statements

12

STATEMENTS OF ASSETS AND LIABILITIESASOF JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 12		Series 13		Series 14
ASSETS:
Investments in securities at value*	$	51,142,466	$	77,447,440	$	138,347,885
Short-term investments in affiliates at amortized cost		34,000		505,000		—
Short-term investments at amortized cost		373,000		205,000		164,000
Cash		9,467		12,789		276
Receivables:
Investment securities sold		21,995		29,328		7,324,705
Dividends and interest		55,630		71,729		21,918
Prepaid expenses		273		617		10,617
Reimbursement due from manager		7,770		—		9,082
Total assets		51,644,601		78,271,903		145,878,483
LIABILITIES:
Payable for investment securities purchased		—		—		6,380,361
Payable for fund shares redeemed		16,065		72,389		491,915
Payable to affiliates		39,116		80,825		55,847
Payable for trustee fees		210		4,927		1,514
Other accrued expenses and liabilities		18,211		55,460		20,762
Total liabilities		73,602		213,601		6,950,399
NET ASSETS	$	51,570,999	$	78,058,302	$	138,928,084
NET ASSETS WERE COMPRISED OF:
Paid-in capital	$	43,896,737	$	75,020,658	$	138,277,673
Undistributed net investment income		244,936		408,531		933,626
Accumulated net realized gain (loss) on investments		3,985,995		710,180		(108,409	)
Net unrealized appreciation or depreciation on investments		3,443,331		1,918,933		(174,806	)
NET ASSETS	$	51,570,999	$	78,058,302	$	138,928,084
*      Cost of investments in securities	$	47,699,135	$	75,528,507	$	138,522,691
Shares authorized		unlimited		unlimited		unlimited
Par value	$	0.001	$	0.001	$	0.001
Shares outstanding		4,480,419		7,455,673		13,605,725
Net asset value and redemption price per share	$	11.51	$	10.47	$	10.21

See Accompanying Notes to Financial Statements

13

STATEMENTS OF OPERATIONSFORTHE SIX MONTHS ENDED JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 1			Series 2			Series 3			Series 4
INVESTMENT INCOME:
Dividends	$	535,908		$	338,047		$	436,594		$	282,278
Interest(1)		912,484			820,449			1,122,407			565,955
Total investment income		1,448,392			1,158,496			1,559,001			848,233
EXPENSES:
Investment management fees		319,068			241,456			348,074			164,050
Distribution fees		132,944			100,606			145,030			68,354
Transfer agent fees		67			103			103			60
Administrative service fees		29,247			22,133			31,906			15,037
Shareholder reporting expense		9,413			7,180			9,592			1,813
Registration fees		272			—			—			—
Professional fees		29,367			14,922			29,853			6,611
Custody and accounting expense		12,540			11,041			13,756			4,050
Trustee fees		2,715			3,530			2,715			2,172
Miscellaneous expense		3,472			3,932			5,751			2,167
Total expenses		539,105			404,903			586,780			264,314
Net waived and reimbursed fees		(6,497	)		(1,734	)		(6,011	)		(49	)
Net expenses		532,608			403,169			580,769			264,265
Net investment income		915,784			755,327			978,232			583,968
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain on investments		3,435,835			2,765,916			1,379,894			2,301,923
Net change in unrealized appreciation or depreciation on investments		(163,021	)		(809,191	)		1,820,523			(718,271	)
Net realized and unrealized gain on investments		3,272,814			1,956,725			3,200,417			1,583,652
Increase in net assets resulting from operations	$	4,188,598		$	2,712,052		$	4,178,649		$	2,167,620
(1)     Affiliated Income	$	3,648		$	3,284		$	5,978		$	3,248

See Accompanying Notes to Financial Statements

14

STATEMENTS OF OPERATIONSFORTHE SIX MONTHS ENDED JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 5			Series 6			Series 7			Series 8
INVESTMENT INCOME:
Dividends	$	303,125		$	567,384		$	416,583		$	285,005
Interest(1)		74,407			285,948			210,136			113,617
Total investment income		377,532			853,332			626,719			398,622
EXPENSES:
Investment management fees		106,123			218,416			160,463			104,952
Distribution fees		44,218			91,006			66,859			43,730
Transfer agent fees		60			63			54			63
Administrative service fees		9,728			20,021			14,709			9,620
Shareholder reporting expense		905			4,545			5,430			3,984
Professional fees		4,218			12,100			17,639			8,846
Custody and accounting expense		3,840			7,765			9,995			9,955
Trustee fees		905			2,556			1,810			905
Miscellaneous expense		1,182			3,013			2,499			2,116
Total expenses		171,179			359,485			279,458			184,171
Net waived and reimbursed fees		(17	)		(29	)		(11,968	)		(9,215	)
Net expenses		171,162			359,456			267,490			174,956
Net investment income		206,370			493,876			359,229			223,666
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain on investments		2,024,643			4,233,991			3,405,053			2,222,458
Net change in unrealized appreciation or depreciation on investments		(496,583	)		(1,653,309	)		(1,240,488	)		(848,912	)
Net realized and unrealized gain on investments		1,528,060			2,580,682			2,164,565			1,373,546
Increase in net assets resulting from operations	$	1,734,430		$	3,074,558		$	2,523,794		$	1,597,212
(1)     Affiliated Income	$	1,139		$	1,931		$	8,007		$	694

See Accompanying Notes to Financial Statements

15

STATEMENTS OF OPERATIONSFORTHE SIX MONTHS ENDED JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 9			Series 10			Series 11
INVESTMENT INCOME:
Dividends	$	224,210		$	199,464		$	220,977
Interest(1)		115,673			139,868			191,630
Total investment income		339,883			339,332			412,607
EXPENSES:
Investment management fees		85,930			81,028			96,193
Distribution fees		35,804			33,761			40,080
Transfer agent fees		54			270			60
Administrative service fees		7,877			7,427			8,817
Shareholder reporting expense		4,143			4,703			5,370
Professional fees		5,885			8,056			14,071
Custody and accounting expense		9,050			8,326			11,936
Trustee fees		1,097			1,201			543
Offering expense		—			—			2,465
Miscellaneous expense		1,885			2,834			1,738
Total expenses		151,725			147,606			181,273
Net waived and reimbursed fees		(8,459	)		(11,754	)		(20,946	)
Net expenses		143,266			135,852			160,327
Net investment income		196,617			203,480			252,280
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain on investments		2,016,411			1,468,524			1,928,474
Net change in unrealized appreciation or depreciation on investments		(773,502	)		(520,776	)		(787,351	)
Net realized and unrealized gain on investments		1,242,909			947,748			1,141,123
Increase in net assets resulting from operations	$	1,439,526		$	1,151,228		$	1,393,403
(1)     Affiliated Income	$	1,425		$	1,110		$	1,486

See Accompanying Notes to Financial Statements

16

STATEMENTS OF OPERATIONSFORTHE SIX MONTHS ENDED JUNE 30, 2007 (UNAUDITED)

	ING GET U.S. Core Portfolio
	Series 12			Series 13			Series 14
INVESTMENT INCOME:
Dividends	$	436,797		$	586,315		$	21,870
Interest(1)		73,886			306,637			1,058,754
Total investment income		510,683			892,952			1,080,624
EXPENSES:
Investment management fees		159,255			290,373			64,963
Distribution fees		66,356			120,988			51,507
Transfer agent fees		231			968			412
Administrative service fees		14,598			26,617			11,331
Shareholder reporting expense		1,648			12,140			3,924
Registration fees		—			77			—
Professional fees		20,287			22,214			8,263
Custody and accounting expense		8,181			9,541			2,969
Trustee fees		370			2,334			1,648
Offering expense		26,613			13,178			9,383
Miscellaneous expense		1,310			3,001			1,680
Total expenses		298,849			501,431			156,080
Net waived and reimbursed fees		(33,373	)		(17,610	)		(9,082	)
Net expenses		265,476			483,821			146,998
Net investment income		245,207			409,131			933,626
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on investments		4,035,959			710,696			(108,409	)
Net change in unrealized appreciation or depreciation on investments		(1,647,279	)		2,538,249			(174,806	)
Net realized and unrealized gain (loss) on investments		2,388,680			3,248,945			(283,215	)
Increase in net assets resulting from operations	$	2,633,887		$	3,658,076		$	650,411
(1)     Affiliated Income	$	—		$	4,174		$	—

See Accompanying Notes to Financial Statements

17

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING GET U.S. Core Portfolio Series 1						ING GET U.S. Core Portfolio Series 2
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
FROM OPERATIONS:
Net investment income	$	915,784		$	2,606,162		$	755,327		$	2,249,937
Net realized gain on investments		3,435,835			2,215,351			2,765,916			1,129,314
Net change in unrealized appreciation or depreciation on investments		(163,021	)		4,432,897			(809,191	)		3,003,859
Net increase in net assets resulting from operations		4,188,598			9,254,410			2,712,052			6,383,110
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(2,600,803	)		(3,352,843	)		(2,245,332	)		(2,988,412	)
Net realized gains		(1,835,124	)		(2,572,044	)		(622,760	)		(1,009,414	)
Total distributions		(4,435,927	)		(5,924,887	)		(2,868,092	)		(3,997,826	)
FROM CAPITAL SHARE TRANSACTIONS:
Dividends reinvested		4,435,927			5,924,887			2,868,092			3,997,826
Cost of shares redeemed		(14,227,733	)		(49,626,519	)		(12,532,754	)		(42,573,997	)
Net decrease in net assets resulting from capital share transactions		(9,791,806	)		(43,701,632	)		(9,664,662	)		(38,576,171	)
Net decrease in net assets		(10,039,135	)		(40,372,109	)		(9,820,702	)		(36,190,887	)
NET ASSETS:
Beginning of period		112,477,072			152,849,181			86,680,808			122,871,695
End of period	$	102,437,937		$	112,477,072		$	76,860,106		$	86,680,808
Undistributed net investment income at end of period	$	915,187		$	2,600,206		$	755,296		$	2,245,301

See Accompanying Notes to Financial Statements

18

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING GET U.S. Core Portfolio Series 3						ING GET U.S. Core Portfolio Series 4
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
FROM OPERATIONS:
Net investment income	$	978,232		$	2,808,263		$	583,968		$	1,481,242
Net realized gain on investments		1,379,894			1,503,956			2,301,923			1,409,789
Net change in unrealized appreciation or depreciation on investments		1,820,523			4,448,491			(718,271	)		1,748,833
Net increase in net assets resulting from operations		4,178,649			8,760,710			2,167,620			4,639,864
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(2,803,620	)		(3,868,485	)		(1,477,787	)		(1,721,080	)
Net realized gains		(39,356	)		(81,209	)		(1,148,098	)		(1,121,509	)
Total distributions		(2,842,976	)		(3,949,694	)		(2,625,885	)		(2,842,589	)
FROM CAPITAL SHARE TRANSACTIONS:
Dividends reinvested		2,842,976			3,949,694			2,625,885			2,842,589
Cost of shares redeemed		(23,633,450	)		(60,611,583	)		(11,076,702	)		(17,083,194	)
Net decrease in net assets resulting from capital share transactions		(20,790,474	)		(56,661,889	)		(8,450,817	)		(14,240,605	)
Net decrease in net assets		(19,454,801	)		(51,850,873	)		(8,909,082	)		(12,443,330	)
NET ASSETS:
Beginning of period		127,551,130			179,402,003			58,378,507			70,821,837
End of period	$	108,096,329		$	127,551,130		$	49,469,425		$	58,378,507
Undistributed net investment income at end of period	$	977,626		$	2,803,014		$	583,774		$	1,477,593

See Accompanying Notes to Financial Statements

19

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING GET U.S. Core Portfolio Series 5						ING GET U.S. Core Portfolio Series 6
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
FROM OPERATIONS:
Net investment income	$	206,370		$	591,988		$	493,876		$	1,680,604
Net realized gain on investments		2,024,643			1,752,627			4,233,991			3,961,083
Net change in unrealized appreciation or depreciation on investments		(496,583	)		1,741,732			(1,653,309	)		3,355,251
Net increase in net assets resulting from operations		1,734,430			4,086,347			3,074,558			8,996,938
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(588,139	)		(769,337	)		(1,673,498	)		(2,438,793	)
Net realized gains		(1,515,062	)		(1,611,245	)		(3,686,983	)		(704,735	)
Total distributions		(2,103,201	)		(2,380,582	)		(5,360,481	)		(3,143,528	)
FROM CAPITAL SHARE TRANSACTIONS:
Dividends reinvested		2,103,201			2,380,582			5,360,481			3,143,528
Cost of shares redeemed		(3,957,622	)		(14,257,722	)		(11,943,117	)		(50,157,566	)
Net decrease in net assets resulting from capital share transactions		(1,854,421	)		(11,877,140	)		(6,582,636	)		(47,014,038	)
Net decrease in net assets		(2,223,192	)		(10,171,375	)		(8,868,559	)		(41,160,628	)
NET ASSETS:
Beginning of period		36,518,491			46,689,866			78,729,373			119,890,001
End of period	$	34,295,299		$	36,518,491		$	69,860,814		$	78,729,373
Undistributed net investment income at end of period	$	206,181		$	587,950		$	493,888		$	1,673,510

See Accompanying Notes to Financial Statements

20

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING GET U.S. Core Portfolio Series 7						ING GET U.S. Core Portfolio Series 8
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
FROM OPERATIONS:
Net investment income	$	359,229		$	1,261,518		$	223,666		$	706,433
Net realized gain on investments		3,405,053			2,338,456			2,222,458			1,416,943
Net change in unrealized appreciation or depreciation on investments		(1,240,488	)		3,285,996			(848,912	)		2,273,601
Net increase in net assets resulting from operations		2,523,794			6,885,970			1,597,212			4,396,977
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(1,255,700	)		(1,732,860	)		(702,883	)		(810,342	)
Net realized gains		(1,633,428	)		—			(1,364,224	)		(173,353	)
Total distributions		(2,889,128	)		(1,732,860	)		(2,067,107	)		(983,695	)
FROM CAPITAL SHARE TRANSACTIONS:
Dividends reinvested		2,889,128			1,732,860			2,067,107			983,695
Cost of shares redeemed		(12,609,179	)		(38,403,731	)		(11,444,507	)		(15,185,745	)
Net decrease in net assets resulting from capital share transactions		(9,720,051	)		(36,670,871	)		(9,377,400	)		(14,202,050	)
Net decrease in net assets		(10,085,385	)		(31,517,761	)		(9,847,295	)		(10,788,768	)
NET ASSETS:
Beginning of period		59,054,335			90,572,096			41,171,658			51,960,426
End of period	$	48,968,950		$	59,054,335		$	31,324,363		$	41,171,658
Undistributed net investment income at end of period	$	359,172		$	1,255,643		$	223,406		$	702,623

See Accompanying Notes to Financial Statements

21

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING GET U.S. Core Portfolio Series 9						ING GET U.S. Core Portfolio Series 10
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
FROM OPERATIONS:
Net investment income	$	196,617		$	646,697		$	203,480		$	488,610
Net realized gain on investments		2,016,411			687,657			1,468,524			303,293
Net change in unrealized appreciation or depreciation on investments		(773,502	)		2,070,330			(520,776	)		2,043,177
Net increase in net assets resulting from operations		1,439,526			3,404,684			1,151,228			2,835,080
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(643,348	)		(470,241	)		(490,048	)		(234,640	)
Net realized gains		(662,732	)		—			(529,452	)		(24,066	)
Total distributions		(1,306,080	)		(470,241	)		(1,019,500	)		(258,706	)
FROM CAPITAL SHARE TRANSACTIONS:
Dividends reinvested		1,306,080			470,241			1,019,500			258,706
Cost of shares redeemed		(8,203,545	)		(14,292,233	)		(2,692,093	)		(12,278,534	)
Net decrease in net assets resulting from capital share transactions		(6,897,465	)		(13,821,992	)		(1,672,593	)		(12,019,828	)
Net decrease in net assets		(6,764,019	)		(10,887,549	)		(1,540,865	)		(9,443,454	)
NET ASSETS:
Beginning of period		30,694,383			41,581,932			27,693,761			37,137,215
End of period	$	23,930,364		$	30,694,383		$	26,152,896		$	27,693,761
Undistributed net investment income at end of period	$	196,372		$	643,103		$	203,400		$	489,968

See Accompanying Notes to Financial Statements

22

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING GET U.S. Core Portfolio Series 11						ING GET U.S. Core Portfolio Series 12
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			March 2, 2006(1) to December 31, 2006
FROM OPERATIONS:
Net investment income	$	252,280		$	902,469		$	245,207		$	637,339
Net realized gain on investments		1,928,474			203,828			4,035,959			1,191,679
Net change in unrealized appreciation or depreciation on investments		(787,351	)		1,968,628			(1,647,279	)		5,090,610
Net increase in net assets resulting from operations		1,393,403			3,074,925			2,633,887			6,919,628
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(920,871	)		(52,607	)		(648,914	)		—
Net realized gains		(507,718	)		—			(1,244,119	)		—
Total distributions		(1,428,589	)		(52,607	)		(1,893,033	)		—
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares		—			25,561,609			—			70,369,417
Dividends reinvested		1,428,589			52,607			1,893,033			—
		1,428,589			25,614,216			1,893,033			70,369,417
Cost of shares redeemed		(8,835,068	)		(19,005,866	)		(5,956,380	)		(22,395,553	)
Net increase (decrease) in net assets resulting from capital share transactions		(7,406,479	)		6,608,350			(4,063,347	)		47,973,864
Net increase (decrease) in net assets		(7,441,665	)		9,630,668			(3,322,493	)		54,893,492
NET ASSETS:
Beginning of period		35,472,627			25,841,959			54,893,492			—
End of period	$	28,030,962		$	35,472,627		$	51,570,999		$	54,893,492
Undistributed net investment income at end of period	$	252,073		$	920,664		$	244,936		$	648,643

⁽¹⁾ Commencement of operations

See Accompanying Notes to Financial Statements

23

STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)

	ING GET U.S. Core Portfolio Series 13						ING GET U.S. Core Portfolio Series 14
	Six Months Ended June 30, 2007			June 22, 2006(1) to December 31, 2006			Six Months Ended June 30, 2007			December 21, 2006(1) to December 31, 2006
FROM OPERATIONS:
Net investment income	$	409,131		$	571,556		$	933,626		$	—
Net realized gain (loss) on investments		710,696			—			(108,409	)		—
Net change in unrealized appreciation or depreciation on investments		2,538,249			(619,316	)		(174,806	)		—
Net increase (decrease) in net assets resulting from operations		3,658,076			(47,760	)		650,411			—
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income		(571,994	)		—			—
Net realized gains		(1,807	)		—			—
Total distributions		(573,801	)		—			—			—
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares		—			116,423,613			158,080,046			85,252
Dividends reinvested		573,801			—			—			—
		573,801			116,423,613			158,080,046			85,252
Cost of shares redeemed		(32,814,593	)		(9,161,034	)		(19,887,625	)		—
Net increase (decrease) in net assets resulting from capital share transactions		(32,240,792	)		107,262,579			138,192,421			85,252
Net increase (decrease) in net assets		(29,156,517	)		107,214,819			138,842,832			85,252
NET ASSETS:
Beginning of period		107,214,819			—			85,252			—
End of period	$	78,058,302		$	107,214,819		$	138,928,084		$	85,252
Undistributed net investment income at end of period	$	408,531		$	571,394		$	933,626		$	—

⁽¹⁾ Commencement of operations

See Accompanying Notes to Financial Statements

24

ING GET U.S. CORE PORTFOLIO SERIES 1 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31,					June 13, 2003(1) to December 31, 2003
				2006		2005		2004
Per Share Operating Performance:
Net asset value, beginning of period	$	10.40		10.09		10.62		10.35	10.00
Income (loss) from investment operations:
Net investment income	$	0.09	*	0.20	*	0.20	*	0.24	0.06
Net realized and unrealized gain (loss) on investments	$	0.33		0.55		(0.04	)	0.11	0.29
Total from investment operations	$	0.42		0.75		0.16		0.35	0.35
Less distributions from:
Net investment income	$	0.27		0.25		0.26		0.07	—
Net realized gains on investments	$	0.19		0.19		0.43		0.01	—
Total distributions	$	0.46		0.44		0.69		0.08	—
Net asset value, end of period	$	10.36		10.40		10.09		10.62	10.35
Total Return(2)	%	3.99		7.72		1.58		3.45	3.40	**
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	102,438		112,477		152,849		200,727	254,534
Ratio of expenses to average net assets:
Gross expenses prior to expense reimbursement(3)	%	1.01		0.98		0.96		0.97	0.99
Net expenses after expense reimbursement(3)(4)	%	1.00	#	0.98		0.96		0.97	0.99
Net investment income after expense reimbursement(3)(4)	%	1.72	#	1.97		1.93		1.92	1.81
Portfolio turnover rate	%	42		57		49		79	29

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Total return calculation began on September 12, 2003, the first day of the Guarantee Period. Total return from commencement of operations was 3.50%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

25

ING GET U.S. CORE PORTFOLIO SERIES 2 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31,					September 12, 2003(1) to December 31, 2003
				2006		2005		2004
Per Share Operating Performance:
Net asset value, beginning of period	$	10.27		10.01		10.44		10.08	10.00
Income (loss) from investment operations:
Net investment income	$	0.10		0.22	*	0.22	*	0.25	0.01
Net realized and unrealized gain (loss) on investments	$	0.24		0.43		(0.13	)	0.12	0.07
Total from investment operations	$	0.34		0.65		0.09		0.37	0.08
Less distributions from:
Net investment income	$	0.30		0.29		0.29		0.01	—
Net realized gains on investments	$	0.08		0.10		0.23		—	—
Total distributions	$	0.38		0.39		0.52		0.01	—
Net asset value, end of period	$	10.23		10.27		10.01		10.44	10.08
Total Return(2)	%	3.36		6.64		0.90		3.68	0.70	**
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	76,860		86,681		122,872		160,135	223,003
Ratio of expenses to average net assets:
Gross expenses prior to expense reimbursement/recoupment(3)	%	1.01		0.98		0.97		0.97	1.06
Net expenses after expense reimbursement/recoupment(3)(4)	%	1.00	#	0.98		0.97		0.97	1.00
Net investment income after expense reimbursement/recoupment(3)(4)	%	1.88	#	2.15		2.12		2.10	1.16
Portfolio turnover rate	%	49		59		51		56	—

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Total return calculation began on December 12, 2003, the first day of the Guarantee Period. Total return from commencement of operations was 0.80%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

26

ING GET U.S. CORE PORTFOLIO SERIES 3 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31,						December 12, 2003(1) to December 31, 2003
				2006		2005		2004
Per Share Operating Performance:
Net asset value, beginning of period	$	10.34		9.99		10.13		10.01		10.00
Income (loss) from investment operations:
Net investment income	$	0.09	*	0.19	*	0.18	*	0.17		0.01
Net realized and unrealized gain (loss) on investments	$	0.28		0.43		(0.11	)	(0.05	)	0.00	**
Total from investment operations	$	0.37		0.62		0.07		0.12		0.01
Less distributions from:
Net investment income	$	0.27		0.26		0.20		—		—
Net realized gains on investments	$	0.00	**	0.01		0.01		—		—
Total distributions	$	0.27		0.27		0.21		—		—
Net asset value, end of period	$	10.44		10.34		9.99		10.13		10.01
Total Return(2)	%	3.60		6.34		0.79		1.20††		—  †
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	108,096		127,551		179,402		253,835		10,730
Ratio of expenses to average net assets:
Gross expenses prior to expense reimbursement/recoupment(3)	%	1.01		0.98		0.97		0.93		4.31
Net expenses after expense reimbursement/recoupment(3)(4)	%	1.00	#	0.98		0.97		0.93		0.65
Net investment income after expense reimbursement/recoupment(3)(4)	%	1.69	#	1.88		1.82		1.81		0.46
Portfolio turnover rate	%	29		51		65		65		—

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Amount represents less than $0.005 per share.

† As of December 31, 2003, the Portfolio was in its Offering Period. Total return calculation will begin on the commencement date of the Guarantee Period (March 12, 2004). Total return from commencement of operations was 0.10%

†† Total return calculation began on March 12, 2004, the first day of the Guarantee Period. Total return for the year ended December 31, 2004 was also 1.20%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

27

ING GET U.S. CORE PORTFOLIO SERIES 4 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

			Six Months Ended June 30, 2007		Year Ended December 31,				March 12, 2004(1) to December 31, 2004
					2006		2005
Per Share Operating Performance:
Net asset value, beginning of period	$		10.73		10.42		10.52		10.00
Income (loss) from investment operations:
Net investment income	$		0.11	*	0.25	*	0.23	*	0.15
Net realized and unrealized gain (loss) on investments	$		0.33		0.54		(0.09	)	0.37
Total from investment operations	$		0.44		0.79		0.14		0.52
Less distributions from:
Net investment income	$		0.32		0.29		0.18		—
Net realized gains on investments	$		0.25		0.19		0.06		—
Total distributions	$		0.57		0.48		0.24		—
Net asset value, end of period	$		10.60		10.73		10.42		10.52
Total Return(2)	%		3.98		7.89		1.29		5.09	**
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	��	49,469		58,379		70,822		90,297
Ratio of expenses to average net assets:
Gross expenses prior to expense reimbursement(3)	%		0.97		0.99		1.00		0.98
Net expenses after expense reimbursement(3)(4)	%		0.97	#	0.99		1.00		0.98
Net investment income after expense reimbursement(3)(4)	%		2.14	#	2.36		2.19		2.36
Portfolio turnover rate	%		45		40		41		48

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Total return calculation began on June 11, 2004, the first day of the Guarantee Period. Total return from commencement of operations was 5.20%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

28

ING GET U.S. CORE PORTFOLIO SERIES 5 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31,				June 11, 2004(1) to December 31, 2004
				2006		2005
Per Share Operating Performance:
Net asset value, beginning of period	$	11.01		10.56		10.57		10.00
Income from investment operations:
Net investment income	$	0.06	*	0.16	*	0.16	*	0.09
Net realized and unrealized gain on investments	$	0.50		0.96		0.12		0.48
Total from investment operations	$	0.56		1.12		0.28		0.57
Less distributions from:
Net investment income	$	0.19		0.22		0.11		—
Net realized gains on investments	$	0.50		0.45		0.18		—
Total distributions	$	0.69		0.67		0.29		—
Net asset value, end of period	$	10.88		11.01		10.56		10.57
Total Return(2)	%	4.95		11.23		2.67		5.49	**
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	34,295		36,518		46,690		54,922
Ratio of expenses to average net assets:
Gross expenses prior to expense reimbursement(3)	%	0.97		1.01		1.05		1.04
Net expenses after expense reimbursement(3)(4)	%	0.97	#	1.00		1.00		0.98
Net investment income after expense reimbursement(3)(4)	%	1.17	#	1.51		1.57		2.33
Portfolio turnover rate	%	70		90		111		71

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Total return calculation began on September 10, 2004, the first day of the Guarantee Period. Total return from commencement of operations was 5.70%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

29

ING GET U.S. CORE PORTFOLIO SERIES 6 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31,				September 10, 2004(1) to December 31, 2004
				2006		2005
Per Share Operating Performance:
Net asset value, beginning of period	$	11.08		10.35		10.12		10.00
Income from investment operations:
Net investment income	$	0.08	*	0.18	*	0.18		0.03
Net realized and unrealized gain on investments	$	0.42		0.87		0.09		0.09
Total from investment operations	$	0.50		1.05		0.27		0.12
Less distributions from:
Net investment income	$	0.27		0.25		0.04		—
Net realized gains on investments	$	0.60		0.07		0.00	**	—
Total distributions	$	0.87		0.32		0.04		—
Net asset value, end of period	$	10.71		11.08		10.35		10.12
Total Return(2)	%	4.37		10.48		2.68		0.90†
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	69,861		78,729		119,890		159,478
Ratio of expenses to average net assets:
Gross expenses prior to expense reimbursement(3)	%	0.99		0.99		0.97		0.77
Net expenses after expense reimbursement(3)(4)	%	0.99	#	0.99		0.97		0.77
Net investment income after expense reimbursement(3)(4)	%	1.36	#	1.71		1.77		1.36
Portfolio turnover rate	%	79		84		81		6

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Amount is less than $0.005 per share.

† Total return calculation began on December 10, 2004, the first day of the Guarantee Period. Total return from commencement of operations was 1.20%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

30

ING GET U.S. CORE PORTFOLIO SERIES 7 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31,				December 10, 2004(1) to December 31, 2004
				2006		2005
Per Share Operating Performance:
Net asset value, beginning of period	$	11.01		10.23		10.01		10.00
Income from investment operations:
Net investment income	$	0.07	*	0.18	*	0.19	*	0.01
Net realized and unrealized gain on investments	$	0.46		0.85		0.04		0.00	**
Total from investment operations	$	0.53		1.03		0.23		0.01
Less distributions from:
Net investment income	$	0.28		0.25		0.01		—
Net realized gains on investments	$	0.37		—		—		—
Total distributions	$	0.65		0.25		0.01		—
Net asset value, end of period	$	10.89		11.01		10.23		10.01
Total Return(2):	%	4.73		10.26		1.95††		—  †
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	48,969		59,054		90,572		62,522
Ratio of expenses to average net assets:
Gross expense prior to expense reimbursement(3)	%	1.04		1.01		0.94		0.65
Net expenses after expense reimbursement(3)(4)	%	1.00	#	1.00		0.94		0.65
Net investment income after expense reimbursement(3)(4)	%	1.34	#	1.71		1.80		1.85
Portfolio turnover rate	%	68		78		126		—

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Amount is less than $0.005.

† As of December 31, 2004, the Portfolio was in its Offering Period. Total return calculation will begin on the commencement date of the Guarantee Period (March 9, 2005). Total return from commencement of operations was 0.10%.

†† Total return calculation began on March 9, 2005, the first day of the Guarantee Period. Total return for the year ended December 31, 2005, was 2.26%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

31

ING GET U.S. CORE PORTFOLIO SERIES 8 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31, 2006		March 9 2005(1) to December 31, 2005
Per Share Operating Performance:
Net asset value, beginning of period	$	11.06		10.23		10.00
Income from investment operations:
Net investment income	$	0.07	*	0.17	*	0.15	*
Net realized and unrealized gain on investments	$	0.48		0.90		0.08
Total from investment operations	$	0.55		1.07		0.23
Less distributions from:
Net investment income	$	0.25		0.20		—
Net realized gains on investments	$	0.49		0.04		—
Total distributions	$	0.74		0.24		—
Net asset value, end of period	$	10.87		11.06		10.23
Total Return(2)	%	4.89		10.70		1.69†
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	31,324		41,172		51,960
Ratio of expenses to average net assets:
Gross expense prior to expense reimbursement(3)	%	1.05		1.04		0.94
Net expenses after expense reimbursement(3)(4)	%	1.00	#	1.00		0.91
Net investment income after expense reimbursement(3)(4)	%	1.28	#	1.60		1.87
Portfolio turnover rate	%	78		101		131

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

† Total return calculation began on June 8, 2005, the first day of the Guarantee Period. Total return from commencement of operations was 2.30%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

32

ING GET U.S. CORE PORTFOLIO SERIES 9 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31, 2006		June 8, 2005(1) to December 31, 2005
Per Share Operating Performance:
Net asset value, beginning of period	$	10.93		10.06		10.00
Income (loss) from investment operations:
Net investment income	$	0.08	*	0.18	*	0.13	*
Net realized and unrealized gain (loss) on investments	$	0.47		0.82		(0.07	)
Total from investment operations	$	0.55		1.00		0.06
Less distributions from:
Net investment income	$	0.28		0.13		—
Net realized gains on investments	$	0.29		—		—
Total distributions	$	0.57		0.13		—
Net asset value, end of period	$	10.91		10.93		10.06
Total Return(2)	%	4.89		10.11		0.00†
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	23,930		30,694		41,582
Ratio of expenses to average net assets:
Gross expense prior to expense reimbursement(3)	%	1.06		1.09		0.96
Net expenses after expense reimbursement(3)(4)	%	1.00	#	1.00		0.87
Net investment income after expense reimbursement(3)(4)	%	1.37	#	1.79		2.21
Portfolio turnover rate	%	87		89		188

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

† Total return calculation began on September 7, 2005 the first day of the Guarantee Period. Total return from commencement of operations was 0.60%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

33

ING GET U.S. CORE PORTFOLIO SERIES 10 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31, 2006		September 7, 2005(1) to December 31, 2005
Per Share Operating Performance:
Net asset value, beginning of period	$	10.91		10.02		10.00
Income (loss) from investment operations:
Net investment income	$	0.08	*	0.16	*	0.09	*
Net realized and unrealized gain (loss) on investments	$	0.40		0.81		(0.07	)
Total from investment operations	$	0.48		0.97		0.02
Less distributions from:
Net investment income	$	0.21		0.07		—
Net realized gains on investments	$	0.22		0.01		—
Total distributions	$	0.43		0.08		—
Net asset value, end of period	$	10.96		10.91		10.02
Total Return(2)	%	4.30		9.78		(0.60	)†
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	26,153		27,694		37,137
Ratio of expenses to average net assets:
Gross expense prior to expense reimbursement(3)	%	1.09		1.14		0.82
Net expenses after expense reimbursement(3)(4)	%	1.00	#	1.00		0.76
Net investment income after expense reimbursement(3)(4)	%	1.51	#	1.54		2.77
Portfolio turnover rate	%	79		93		80

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

† Total return calculation began on December 6, 2005 the first day of the Guarantee Period. Total return from commencement of operations was 0.20%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

34

ING GET U.S. CORE PORTFOLIO SERIES 11 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		Year Ended December 31, 2006		December 6, 2005(1) to December 31, 2005
Per Share Operating Performance:
Net asset value, beginning of period	$	10.79		10.02		10.00
Income (loss) from investment operations:
Net investment income	$	0.09	*	0.23	*	0.03	*
Net realized and unrealized gain (loss) on investments	$	0.38		0.55		(0.01	)
Total from investment operations	$	0.47		0.78		0.02
Less distributions from:
Net investment income	$	0.36		0.01		—
Net realized gains on investments	$	0.20		—		—
Total distributions	$	0.56		0.01		—
Net asset value, end of period	$	10.70		10.79		10.02
Total Return(2)	%	4.29		7.06††		—  †
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	28,031		35,473		25,842
Ratio of expenses to average net assets:
Gross expenses prior to reimbursement(3)	%	1.13		1.03		0.65
Net expenses after reimbursement(3)(4)	%	1.00	#	0.96		0.65
Net investment income after expense reimbursement(3)(4)	%	1.57	#	2.22		3.95
Portfolio turnover rate	%	100		114		—

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

† As of December 31, 2005, the Portfolio was in its Offering Period. Total return calculation will begin on the commencement date of the Guarantee Period (March 2, 2006). Total return from commencement of operations was 0.20%.

†† Total return calculation began on March 2, 2006, the first day of the Guarantee Period. Total return for the entire calendar year was 7.81%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

35

ING GET U.S. CORE PORTFOLIO SERIES 12 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		March 2, 2006(1) to December 31, 2006
Per Share Operating Performance:
Net asset value, beginning of period	$	11.36		10.00
Income from investment operations:
Net investment income	$	0.05	*	0.13
Net realized and unrealized gain on investments	$	0.53		1.23
Total from investment operations	$	0.58		1.36
Less distributions from:
Net investment income	$	0.15		—
Net realized gains on investments	$	0.28		—
Total distributions	$	0.43
Net asset value, end of period	$	11.51		11.36
Total Return(2)	%	5.02		12.25†
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	51,571		54,893
Ratio of expenses to average net assets:
Gross expense prior to expense reimbursement(3)	%	1.13		0.94
Net expenses after expense reimbursement(3)(4)	%	1.00	#	0.85
Net investment income after expense reimbursement(3)(4)	%	0.92	#	1.72
Portfolio turnover rate	%	79		57

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return in calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

† Total return calculation began June 22, 2006 the first day of the Guarantee Period. Total return from commencement of operations was 13.60%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

36

ING GET U.S. CORE PORTFOLIO SERIES 13 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		June 22, 2006(1) to December 31, 2006
Per Share Operating Performance:
Net asset value, beginning of period	$	10.16		10.00
Income (loss) from investment operations:
Net investment income	$	0.04	*	0.22	*
Net realized and unrealized gain (loss) on investments	$	0.33		(0.06	)
Total from investment operations	$	0.37		0.16
Less distributions from:
Net investment income	$	0.06		—
Net realized gains on investments	$	0.00	**	—
Total distributions	$	0.06		—
Net asset value, end of period	$	10.47		10.16
Total Return(2)	%	3.67		(0.59	)†
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	78,058		107,215
Ratio of expenses to average net assets:
Gross expense prior to expense reimbursement(3)	%	1.04		1.02
Net expense after expense reimbursement(3)(4)	%	1.00	#	0.73
Net investment income after expense reimbursement(3)(4)	%	0.85	#	4.15
Portfolio turnover rate	%	66		—

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Amount is less than $0.005.

† Total return calculation began December 21, 2006 the first day of the Guarantee Period. Total return from commencement of operations was 1.60%.

# Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.01% impact on the expense ratio.

See Accompanying Notes to Financial Statements.

37

ING GET U.S. CORE PORTFOLIO SERIES 14 (UNAUDITED) FINANCIAL HIGHLIGHTS

Selected data for a share of beneficial interest outstanding throughout each period.

		Six Months Ended June 30, 2007		December 21, 2006(1) to December 31, 2006
Per Share Operating Performance:
Net asset value, beginning of period	$	10.00		10.00
Income (loss) from investment operations:
Net investment income (loss)	$	0.23	*	(0.00	)**
Net realized and unrealized loss on investments	$	(0.02	)	—
Total from investment operations	$	0.21		(0.00	)**
Net asset value, end of period	$	10.21		10.00
Total Return(2)	%	(0.10	)††	—  †
Ratios and Supplemental Data:
Net assets, end of period (000’s)	$	138,928		85
Ratio of expenses to average net assets:
Gross expense prior to expense reimbursement(3)	%	0.76		—
Net expense after expense reimbursement(3)(4)	%	0.71		0.58
Net investment income after expense reimbursement(3)(4)	%	4.53		(0.58	)
Portfolio turnover rate (loss)	%	5		—

⁽¹⁾ Commencement of operations.

⁽²⁾ Total return is calculated assuming reinvestment of all dividends and capital gain distributions at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

⁽³⁾ Annualized for periods less than one year.

⁽⁴⁾ The Investment Adviser has agreed to limit expenses, (excluding interest, taxes, brokerage and extraordinary expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred.

* Calculated using average number of shares outstanding throughout the period.

** Amount is more than $(0.005).

† As of December 31, 2006, the Portfolio was in its offering period. Total return calculation will begin on the commencement date of the Guarantee Period (June 21, 2007.) Total return from commencement of operations was 0.00%.

†† Total return calculation began on June 21, 2007 the first day of the Guarantee Period. Total return for the six months ended June 30, 2007 was 2.10%.

See Accompanying Notes to Financial Statements.

38

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED)

NOTE 1 —  ORGANIZATION

Organization. The ING Variable Insurance Trust (the “Trust”) was organized as a Delaware statutory trust on July 15, 1999 and is registered with the U.S. Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”) as a diversified open-end management investment company. There are fifteen separate investment Series which comprise the Trust. The fourteen that are in this report are as follows: ING GET U.S. Core Portfolio Series 1 (“Series 1”), ING GET U.S. Core Portfolio Series 2 (“Series 2”), ING GET U.S. Core Portfolio Series 3 (“Series 3”), ING GET U.S. Core Portfolio Series 4 (“Series 4”), ING GET U.S. Core Portfolio Series 5 (“Series 5”), ING GET U.S. Core Portfolio Series 6 (“Series 6”), ING GET U.S. Core Portfolio Series 7 (“Series 7”), ING GET U.S. Core Portfolio Series 8 (“Series 8”), ING GET U.S. Core Portfolio Series 9 (“Series 9”), ING GET U.S. Core Portfolio Series 10 (“Series 10”), ING GET U.S. Core Portfolio Series 11 (“Series 11”), ING GET U.S. Core Portfolio Series 12 (“Series 12”), ING GET U.S. Core Portfolio Series 13 (“Series 13”) and ING GET U.S. Core Portfolio Series 14 (“Series 14”) (each, a “Series” and collectively, “the Series”).

During the Guarantee Period, the Series seek to achieve maximum total return and minimal exposure of the Series’ assets to a market value loss by participating, to the extent possible, in favorable equity market performance.

If during the Guarantee Period the equity markets experience a major decline, the Series’ assets may become largely or entirely invested in the Fixed Component. Use of the Fixed Component reduces the Series’ ability to participate as fully in upward equity market movements, and therefore represents some loss of opportunity, or opportunity cost, compared to a portfolio that is more heavily invested in equities. The insurance companies offering these Series currently are ING Life Insurance & Annuity Company (“ILIAC”) and ING USA Annuity and Life Insurance Company (“ING USA”). The insurance companies offering these Series guarantee Contract holders and Participants that on the Maturity Date they will receive no less than the value of their separate account investment directed to the Series as of the last day of the Offering Period, adjusted for certain charges (the “Guarantee”). The value of dividends and distributions made by the Series throughout the Guarantee Period is included in determining whether, for purposes of the Guarantee, the value of a shareholder’s investment on the Maturity

Date is no less than the value of their investment as of the last day of the Offering Period. Amounts withdrawn prior to the Maturity Date do not get the benefit of the Guarantee. The following information is related to the Series:

	Offering Period	Guarantee Period	Maturity Date
Series 1*	06/13/03 — 09/11/03	09/12/03 — 09/12/08	09/12/08
Series 2*	09/12/03 — 12/11/03	12/12/03 — 12/12/08	12/12/08
Series 3*	12/12/03 —03/11/04	03/12/04 — 03/13/09	03/13/09
Series 4*	03/12/04 — 06/10/04	06/11/04 — 06/12/09	06/12/09
Series 5*	06/11/04 — 09/09/04	09/10/04 — 09/09/11	09/09/11
Series 6*	09/10/04 — 12/09/04	12/10/04 — 12/09/11	12/09/11
Series 7*	12/10/04 — 03/08/05	03/09/05 — 03/08/12	03/08/12
Series 8*	03/09/05 — 06/07/05	06/08/05 — 06/07/12	06/07/12
Series 9*	06/08/05 — 09/06/05	09/07/05 — 09/06/12	09/06/12
Series 10*	09/07/05 — 12/05/05	12/06/05 — 12/05/12	12/05/12
Series 11*	12/06/05 — 03/01/06	03/02/06 — 02/28/13	02/28/13
Series 12*	03/02/06 — 06/21/06	06/22/06 — 06/20/13	06/20/13
Series 13*	06/22/06 — 12/20/06	12/21/06 — 12/19/13	12/19/13
Series 14*	12/21/06 — 06/20/07	06/21/07 — 06/19/14	06/19/14

* Closed to new investors.

Shares of the Series are offered to insurance company separate accounts that fund both annuity and life insurance contracts and certain tax-qualified retirement plans. At June 30, 2007, separate accounts of ILIAC and ING USA and their affiliates held all the shares outstanding of the Series.

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies are consistently followed by the Series in the preparation of their financial statements, and such policies are in conformity with U.S. generally accepted accounting principles (“GAAP”) for investment companies.

A. Security Valuation. Investments in equity securities traded on a national securities exchange are valued at the last reported sale price. Securities reported by NASDAQ will be valued at the NASDAQ official closing prices. Securities traded on an exchange or NASDAQ for which there has been no sale and securities traded in the over-the-counter-market are valued at the mean between the last reported bid and ask prices. All investments quoted in foreign currencies will be valued daily in U.S. dollars on the basis of the foreign currency exchange rates prevailing at that time. Debt securities are valued at prices obtained from independent services or from one or more dealers making markets in the securities and may be adjusted based on the Series’ valuation procedures. U.S. government obligations are valued by using market quotations or independent pricing services that use prices provided by market-makers or estimates of market

39

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

values obtained from yield data relating to instruments or securities with similar characteristics.

Securities and assets for which market quotations are not readily available (which may include certain restricted securities which are subject to limitations as to their sale) are valued at their fair values as determined in good faith by or under the supervision of the Series’ Board of Trustees (the “Board”), in accordance with methods that are specifically authorized by the Board. Securities traded on exchanges, including foreign exchanges, which close earlier than the time that a Series calculates its net asset value (“NAV”) may also be valued at their fair values as determined in good faith by or under the supervision of a Series’ Board, in accordance with methods that are specifically authorized by the Board. The valuation techniques applied in any specific instance are likely to vary from case to case. With respect to a restricted security, for example, consideration is generally given to the cost of the investment, the market value of any unrestricted securities of the same class at the time of valuation, the potential expiration of restrictions on the security, the existence of any registration rights, the costs to the Series related to registration of the security, as well as factors relevant to the issuer itself. Consideration may also be given to the price and extent of any public trading in similar securities of the issuer or comparable companies’ securities. The value of a foreign security traded on an exchange outside the United States is generally based on the price of a foreign security on the principal foreign exchange where it trades as of the time the Series determines its NAV or if the foreign exchange closes prior to the time the Series determines its NAV, the most recent closing price of the foreign security on its principal exchange. Trading in certain non-U.S. securities may not take place on all days on which the New York Stock Exchange (“NYSE”) is open. Further, trading takes place in various foreign markets on days on which the NYSE is not open. Consequently, the calculation of the Series’ NAV may not take place contemporaneously with the determination of the prices of securities held by the Series in foreign securities markets. Further, the value of the Series’ assets may be significantly affected by foreign trading on days when a shareholder cannot purchase or redeem

shares of the Series. In calculating the Series’ NAV, foreign securities in foreign currency are converted to U.S. dollar equivalents. If an event occurs after the time at which the market for foreign securities held by the Series closes but before the time that the Series’ NAV in calculated, such event may cause the closing price on the foreign exchange to not represent a readily available reliable market value quotation for such securities at the time the Series determines its NAV. In such a case, the Series will use the fair value of such securities as determined under the Series’ valuation procedures. Events after the close of trading on a foreign market that could require the Series to fair value some or all of its foreign securities include, among others, securities trading in the U.S. and other markets, corporate announcements, natural and other disasters, and political and other events. Among other elements of analysis in the determination of a security’s fair value, the Board has authorized the use of one or more independent research services to assist with such determinations. An independent research service may use statistical analyses and quantitative models to help determine fair value as of the time a Series calculates its NAV. There can be no assurance that such models accurately reflect the behavior of the applicable markets or the effect of the behavior of such markets on the fair value of securities, or that such markets will continue to behave in a fashion that is consistent with such models. Unlike the closing price of a security on an exchange, fair value determinations employ elements of judgment. Consequently, the fair value assigned to a security may not represent the actual value that the Series could obtain if it were to sell the security at the time of the close of the NYSE. Pursuant to procedures adopted by the Board, the Series is not obligated to use the fair valuations suggested by any research service, and valuation recommendations provided by such research services may be overridden if other events have occurred or if other fair valuations are determined in good faith to be more accurate. Unless an event is such that it causes the Series to determine that the closing prices for one or more securities do not represent readily available reliable market value quotations at the time the Series determines its NAV, events that occur between the time of the close of the foreign market on which they are traded and the close of regular trading on the NYSE will not be reflected in the Series’ NAV. Investments in securities maturing in 60 days or less

40

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

are valued at amortized cost, which, when combined with accrued interest, approximates market value.

B. Security Transactions and Revenue Recognition. Security transactions are recorded on the trade date. Realized gains or losses on sales of investments are calculated on the identified cost basis. Interest income is recorded on the accrual basis. Premium amortization and discount accretion are determined using the effective yield method. Dividend income is recorded on the ex-dividend date.

C. Foreign Currency Translation. The books and records of the Series are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

(1) Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at the end of the day.

(2) Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets and the market values are presented at the foreign exchange rates at the end of the day, the Series do not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses from investments. For securities, which are subject to foreign withholding tax upon disposition, liabilities are recorded on the Statements of Assets and Liabilities for the estimated tax withholding based on the securities current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Series’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise

from changes in the value of assets and liabilities other than investments in securities at fiscal year end, resulting from changes in the exchange rate. Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, revaluation of currencies and future adverse political and economic developments which could cause securities and their markets to be less liquid and prices more volatile than those of comparable U.S. companies and U.S. government securities.

D. Forward Foreign Currency Contracts. The Series may enter into forward foreign currency contracts primarily to hedge against foreign currency exchange rate risks on their non-U.S. dollar denominated investment securities. When entering into a currency forward contract, the Series agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed future date. These contracts are valued daily and the Series’ net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date, is included in the Statements of Assets and Liabilities. Realized and unrealized gains and losses are included in the Statements of Operations. These instruments involve market and/or credit risk in excess of the amount recognized in the Statements of Assets and Liabilities. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movement in currency and securities values and interest rates. At December 31, 2006, the Series did not have any open forward foreign currency contracts.

E. Distributions to Shareholders. Dividends from net investment income and net realized gains, if any, are declared and paid annually by the Series. Distributions are determined annually in accordance with federal tax principles, which may differ from U.S. generally accepted accounting principles for investment companies. The Series may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. Distributions are recorded on the ex-dividend date. The characteristics of income and gains are determined in accordance with income tax regulations, which

41

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

may differ from accounting principles generally accepted in the United States of America for investment companies.

F. Federal Income Taxes. It is the Series’ policy to comply with subchapter M of the Internal Revenue Code and related excise tax provisions applicable to regulated investment companies and to distribute substantially all of their net investment income and any net realized capital gains to their shareholders. Therefore, no federal income tax provision is required. No capital gain distributions shall be made until any capital loss carryforwards have been fully utilized or expire.

G. Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

H. Repurchase Agreements. Each Series may invest in repurchase agreements only with government securities dealers recognized by the Board of Governors of the Federal Reserve System. Under such agreements, the seller of the security agrees to repurchase it at a mutually agreed upon time and price. The resale price is in excess of the purchase price and reflects an agreed upon interest rate for the period of time the agreement is outstanding. The period of the repurchase agreements is usually short, from overnight to one week, while the underlying securities generally have longer maturities. Each Series will receive as collateral cash or securities whose market value is equal to at least 100% of the carrying amount of the repurchase agreements, plus accrued interest, being invested by the Series. The underlying collateral is valued daily on a mark-to-market basis to assure that the value, including accrued interest is at least equal to the repurchase price. There would be potential loss to the Series in the event the Series is delayed or prevented from exercising its right to dispose of the collateral, and it might incur disposition costs in liquidating the collateral.

I. Delayed Delivery Transactions. A Series may purchase or sell securities on a when-issued or forward commitment basis. The price of the underlying securities and date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The market value of such is identified in the Series’ Portfolio of Investments. Losses may arise due to changes in the market value of the securities or from the inability of counterparties to meet the terms of the contract. In connection with such purchases, the Series are required to hold liquid assets as collateral with the Series’ custodian sufficient to cover the purchase price.

J. Organization Expenses and Offering Costs. Costs incurred with the organization of the Series were expensed as incurred. Costs incurred with the offering of shares of the Series are deferred and amortized over a twelve-month period starting on the first day of the Guarantee Period on a straight-line basis.

K. Indemnifications. In the normal course of business, the Trust may enter into contracts that provide certain indemnifications. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Series and, therefore, cannot be estimated; however, based on experience, the risk of loss from such claims is considered remote.

NOTE 3 — INVESTMENT TRANSACTIONS

For the six months ended June 30, 2007, the cost of purchases and proceeds of sales of securities, excluding short-term and U.S. government securities, were as follows:

	Purchases		Sales
Series 1	$	28,916,616	$	26,030,974
Series 2		21,040,602		23,823,833
Series 3		15,759,461		15,665,354
Series 4		24,735,876		22,070,258
Series 5		17,925,773		18,152,094
Series 6		37,696,929		41,154,481
Series 7		23,216,411		37,980,387
Series 8		13,517,358		21,623,383
Series 9		13,873,182		18,796,348
Series 10		21,237,890		20,036,917
Series 11		19,646,086		20,470,017
Series 12		41,848,705		47,960,944
Series 13		63,296,589		92,782,525
Series 14		96,977,007		7,325,875

42

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 3 — INVESTMENT TRANSACTIONS (continued)

U.S. government securities not included above were as follows:

	Purchases		Sales
Series 1	$	16,042,004	$	32,652,574
Series 2		18,543,532		28,339,481
Series 3		18,482,587		42,560,649
Series 4		—		13,477,544
Series 5		6,954,313		12,249,725
Series 6		20,098,806		28,730,961
Series 7		13,253,979		10,771,008
Series 8		13,905,186		17,028,885
Series 9		10,865,157		13,903,749
Series 10		—		3,882,482
Series 11		12,071,702		19,854,214
Series 14		49,125,034		212,832

NOTE 4 — INVESTMENT MANAGEMENT AND ADMINISTRATION FEES

Each of the Series has entered into an investment management agreement (“Investment Management Agreement”) with ING Investments, LLC (the “Investment Adviser”). The Investment Management Agreement compensates the Investment Adviser with a fee, computed daily and payable monthly, based on the average daily net assets of each Series. The fee for each Series is 0.25% during its Offering Period and 0.60% during its Guarantee Period.

Effective November 1, 2006, certain ING Funds sub-advised by ING IM are permitted to invest end-of-day cash balances into ING Institutional Prime Money Market Fund. Investment Management fees paid by the funds will be reduced by an amount equal to the management fees paid indirectly to ING Institutional Prime Money Market with respect to assets invested by the funds. As of June 30, 2007, the Series waived the following amounts, which are not subject to recoupment:

Series 1	$	56
Series 2		49
Series 3		91
Series 4		49
Series 5		17
Series 6		29
Series 7		123
Series 8		10
Series 9		22
Series 10		17
Series 11		23
Series 12		27
Series 13		63

The Investment Adviser has engaged ING Investment Management Co. (“ING IM”), to serve as sub-adviser to each Series. ING IM is responsible for managing the

assets of each Series in accordance with its investment objective and policies, subject to such policies as the Board of the Investment Adviser may determine.

ING Funds Services, LLC (the “Administrator”) acts as the administrator and provides certain administrative and shareholder services necessary for each Series’ operations and is responsible for the supervision of other service providers. For its services, the Administrator is entitled to receive from each Series a fee at an annual rate of 0.055% on the first $5 billion of average daily net assets and 0.030% thereafter.

The Investment Adviser, ING IM and the Administrator are indirect, wholly-owned subsidiaries of ING Groep N.V., (“ING Groep”). ING Groep is one of the largest financial services organizations in the world, and offers an array of banking, insurance and asset management services to both individuals and institutional investors.

NOTE 5 — DISTRIBUTION FEES

The Series have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act (the “12b-1 Plan”), whereby ING Funds Distributor, LLC (“IFD” or the “Distributor”) is compensated by the Series for expenses incurred in the distribution of each Series’ shares (“Distribution Fees”). Pursuant to the 12b-1 Plan, the Distributor is entitled to a payment each month to compensate for expenses incurred in the distribution and promotion of the Series’ shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including distribution or shareholder servicing fees (“Servicing Fees”) paid to securities dealers who have executed a distribution agreement with the Distributor. Under the 12b-1 Plan, the Series pays the Distributor a Distribution Fee rate of 0.25% based on average daily net assets.

43

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATED AND RELATED PARTIES

At June 30, 2007, the Series had the following amounts recorded in payable to affiliates on the accompanying Statements of Assets and Liabilities:

Portfolio	Accrued Investment Management Fees		Accrued Administrative Fees		Accrued Shareholder Service and Distribution Fees		Accrued Recoupment		Total
Series 1	$	51,188	$	4,693	$	21,334	$	491	$	77,706
Series 2		38,463		3,527		16,033		—		58,023
Series 3		54,236		4,973		22,606		—		81,815
Series 4		25,186		2,310		10,498		—		37,994
Series 5		17,370		1,593		7,240		—		26,203
Series 6		35,021		3,211		14,597		6,082		58,911
Series 7		24,873		2,280		10,366		375		37,894
Series 8		15,818		1,450		6,592		—		23,860
Series 9		12,567		1,152		5,237		984		19,940
Series 10		13,265		1,216		5,529		—		20,010
Series 11		14,074		1,291		5,868		2,614		23,847
Series 12		25,931		2,378		10,807		—		39,116
Series 13		43,334		3,974		18,065		15,452		80,825
Series 14		32,551		4,201		19,095		—		55,847

The Trust has adopted a Retirement Policy (“Policy”) covering all independent trustees of the Series who will have served as an independent Trustee for at least five years at the time of retirement. Benefits under this policy are based on an annual rate as defined in the policy agreement.

At June 30, 2007, the following indirect, wholly owned subsidiaries of ING Groep owned the following Series:

ING Life Insurance and Annuity Company — Series 1 (16.10%); Series 2 (18.21%); Series 3 (46.41%); Series 4 (9.49%); Series 5 (10.39%); Series 6 (56.51%); Series 7 (53.91%); Series 8 (60.32%); Series 9 (62.62%); Series 10 (67.09%); Series 11 (63.93%); Series 12 (91.45%); and Series 13 (47.62%).

ING USA Annuity and Life Insurance Company — Series 1 (80.63%); Series 2 (74.83%); Series 3 (50.93%); Series 4 (84.24%); Series 5 (78.07%); Series 6 (41.02%); Series 7 (39.23%); Series 8 (34.08%); Series 9 (35.58%); Series 10 (29.01%); Series 11 (35.04%); Series 12 (8.42%); Series 13 (51.44%); and Series 14 (70.62%).

ReliaStar Life Insurance Company of New York — Series 2 (6.97%); Series 4 (6.27%); Series 5 (11.53%); Series 7 (6.85%); and Series 14 (7.64%).

NOTE 7 — OTHER ACCRUED EXPENSES AND LIABILITIES

At June 30, 2007, the Series had the following payables included in Other Accrued Expenses and Liabilities on the Statements of Assets and Liabilities that exceeded 5% of total liabilities.

	Payable for Custody Fees		Payable for Professional Fees		Payable for Shareholder Reporting Expense		Payable for Offering Expenses
Series 1	$	11,296	$	20,569	$	13,365	$	—
Series 3		15,217		18,875		14,437		—
Series 4		9,278		10,896		7,173		—
Series 5		9,537		9,153		10,086		—
Series 7		12,730		13,168		9,517		—
Series 10		8,945		9,714		13,515		—
Series 11		14,861		4,832		5,401		7,233
Series 12		8,494		6,462		—		—
Series 13		—		11,676		17,914		—

NOTE 8 — EXPENSE LIMITATIONS

ING Investments, LLC has entered into a written expense limitation agreement (“Expense Limitation Agreement”) with each Series whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, brokerage and extraordinary expenses (and “Acquired Fund Fees and Expenses” stemming from investments in other investment companies) to 0.65% during the Offering Period and 1.00% during the Guarantee Period.

The Investment Adviser may at a later date recoup from a Series for management fees waived and other expenses assumed by the Investment Adviser during the previous 36 months, but only if, after such reimbursement, the Series’ expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees, are reflected on the accompanying Statements of Operations for each Series. Amounts payable by the Investment Adviser are reflected in the Statements of Assets and Liabilities for each Series.

44

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 8 — EXPENSE LIMITATIONS (continued)

As of June 30, 2007, the amounts of waived and reimbursed fees that are subject to possible recoupment by the Investment Adviser and the related expiration dates are as follows:

	June 30,
	2008		2009		2010		Total
Series 1	$	—	$	—	$	6,441	$	6,441
Series 2		—		—		1,685		1,685
Series 3		—		—		5,920		5,920
Series 4		—		3,050		—		3,050
Series 5		17,315		21,696		266		39,277
Series 7		—		—		22,451		22,451
Series 8		947		14,270		19,858		35,075
Series 9		—		38,087		18,636		56,723
Series 10		—		19,908		42,196		62,104
Series 11		—		11,263		37,886		49,149
Series 12		—		647		65,202		65,849
Series 13		—		—		57,005		57,005
Series 14		—		—		9,082		9,082

The Expense Limitation Agreement is contractual and shall renew automatically for one-year terms unless ING Investments provides written notice of the termination of the Expense Limitation Agreement within 90 days of the end of the then current term.

NOTE 9 — CAPITAL SHARES

Transactions in capital shares and dollars were as follows:

	Series 1						Series 2
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
(Number of Shares)
Dividends reinvested		423,680			609,556			277,916			413,426
Shares redeemed		(1,351,818	)		(4,939,906	)		(1,208,856	)		(4,243,635	)
Net decrease in shares outstanding		(928,138	)		(4,330,350	)		(930,940	)		(3,830,209	)
($)
Dividends reinvested	$	4,435,927		$	5,924,887		$	2,868,092		$	3,997,826
Shares redeemed		(14,227,733	)		(49,626,519	)		(12,532,754	)		(42,573,997	)
Net decrease	$	(9,791,806	)	$	(43,701,632	)	$	(9,664,662	)	$	(38,576,171	)
	Series 3						Series 4
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
(Number of Shares)
Dividends reinvested		270,502			404,682			244,496			284,829
Shares redeemed		(2,257,392	)		(6,015,901	)		(1,016,438	)		(1,642,472	)
Net decrease in shares outstanding		(1,986,890	)		(5,611,219	)		(771,942	)		(1,357,643	)
($)
Dividends reinvested	$	2,842,976		$	3,949,694		$	2,625,885		$	2,842,589
Shares redeemed		(23,633,450	)		(60,611,583	)		(11,076,702	)		(17,083,194	)
Net decrease	$	(20,790,474	)	$	(56,661,889	)	$	(8,450,817	)	$	(14,240,605	)

45

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 9 — CAPITAL SHARES (continued)

	Series 5						Series 6
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
(Number of Shares)
Dividends reinvested		189,307			239,014			490,437			311,858
Shares redeemed		(354,395	)		(1,345,150	)		(1,071,024	)		(4,791,859	)
Net decrease in shares outstanding		(165,088	)		(1,106,136	)		(580,587	)		(4,480,001	)
($)
Dividends reinvested	$	2,103,201		$	2,380,582		$	5,360,481		$	3,143,528
Shares redeemed		(3,957,622	)		(14,257,722	)		(11,943,117	)		(50,157,566	)
Net decrease	$	(1,854,421	)	$	(11,877,140	)	$	(6,582,636	)	$	(47,014,038	)
	Series 7						Series 8
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
(Number of Shares)
Dividends reinvested		260,282			173,113			186,226			97,978
Shares redeemed		(1,129,028	)		(3,660,560	)		(1,026,514	)		(1,454,894	)
Net decrease in shares outstanding		(868,746	)		(3,487,447	)		(840,288	)		(1,356,916	)
($)
Dividends reinvested	$	2,889,128		$	1,732,860		$	2,067,107		$	983,695
Shares redeemed		(12,609,179	)		(38,403,731	)		(11,444,507	)		(15,185,745	)
Net decrease	$	(9,720,051	)	$	(36,670,871	)	$	(9,377,400	)	$	(14,202,050	)
	Series 9						Series 10
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			Year Ended December 31, 2006
(Number of Shares)
Dividends reinvested		117,242			47,260			91,271			26,027
Shares redeemed		(732,523	)		(1,372,243	)		(242,748	)		(1,193,870	)
Net decrease in shares outstanding		(615,281	)		(1,324,983	)		(151,477	)		(1,167,843	)
($)
Dividends reinvested	$	1,306,080		$	470,241		$	1,019,500		$	258,706
Shares redeemed		(8,203,545	)		(14,292,233	)		(2,692,093	)		(12,278,534	)
Net decrease	$	(6,897,465	)	$	(13,821,992	)	$	(1,672,593	)	$	(12,019,828	)
	Series 11						Series 12
	Six Months Ended June 30, 2007			Year Ended December 31, 2006			Six Months Ended June 30, 2007			March 2, 2006(1) to December 31, 2006
(Number of Shares)
Shares sold		—			2,535,040			—			6,991,806
Dividends reinvested		130,703			5,335			160,972			—
Shares redeemed		(798,153	)		(1,831,927	)		(512,344	)		(2,160,015	)
Net increase (decrease) in shares outstanding		(667,450	)		708,448			(351,372	)		4,831,791
($)
Shares sold	$	—		$	25,561,609		$	—		$	70,369,417
Dividends reinvested		1,428,589			52,607			1,893,033			—
Shares redeemed		(8,835,068	)		(19,005,866	)		(5,956,380	)		(22,395,553	)
Net increase (decrease)	$	(7,406,479	)	$	6,608,350		$	(4,063,347	)	$	47,973,864

46

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 9 — CAPITAL SHARES (continued)

	Series 13						Series 14
	Six Months Ended June 30, 2007			June 22, 2006(1) to December 31, 2006			Six Months Ended June 30, 2007			December 21, 2006(1) to December 31, 2006
(Number of Shares)
Shares sold		—			11,453,014			15,554,316			8,525
Dividends reinvested		53,979			—			—			—
Shares redeemed		(3,148,630	)		(902,690	)		(1,957,116	)		—
Net increase (decrease) in shares outstanding		(3,094,651	)		10,550,324			13,597,200			8,525
($)
Shares sold	$	—		$	116,423,613		$	158,080,046		$	85,252
Dividends reinvested		573,801			—			—			—
Shares redeemed		(32,814,593	)		(9,161,034	)		(19,887,625	)		—
Net increase (decrease)	$	(32,240,792	)	$	107,262,579		$	138,192,421		$	85,252

⁽¹⁾ Commencement of operations

NOTE 10 — LINE OF CREDIT

The Series, in addition to certain other funds managed by the Investment Adviser, have entered into an unsecured committed revolving line of credit agreement (the “Credit Agreement”) with The Bank of New York for an aggregate amount of $125,000,000. The proceeds may be used to: (1) temporarily finance the purchase and sale of securities; (2) finance the redemption of shares of an investor in the funds; and (3) enable the funds to meet other emergency expenses as defined in the Credit Agreement. The funds to which the line of credit is available pay a commitment fee equal to 0.09% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. The Series did not utilize the line of credit during the six months ended June 30, 2007.

NOTE 11 — FEDERAL INCOME TAXES

The amount of distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. generally accepted accounting principles for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of short-term capital gains, foreign currency transactions, and wash sale deferrals. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as distributions of paid-in capital.

Dividends paid by the Portfolios from net investment income and distributions of net realized short-term

capital gains are, for federal income tax purposes, taxable as ordinary income to shareholders.

The tax composition of dividends and distributions to shareholders was as follows:

	Six Months Ended June 30, 2007				Year Ended December 31, 2006
	Ordinary Income		Long-Term Capital Gains		Ordinary Income		Long-Term Capital Gains
Series 1	$	2,896,853	$	1,539,074	$	4,309,254	$	1,615,633
Series 2		2,431,274		436,818		3,956,946		40,880
Series 3		2,842,976		—		3,949,694		—
Series 4		1,669,834		956,051		2,713,598		128,991
Series 5		840,548		1,262,653		2,067,413		313,169
Series 6		2,219,444		3,141,037		2,791,648		351,880
Series 7		1,510,025		1,379,103		1,732,860		—
Series 8		1,559,747		507,360		983,695		—
Series 9		1,026,173		279,907		470,241		—
Series 10		994,663		24,837		258,706		—
Series 11		1,426,566		2,023		52,607		—
Series 12		1,890,392		2,641		—		—
Series 13		571,994		1,807		—		—

The tax-basis components of distributable earnings as of December 31, 2006 were:

	Undistributed Ordinary Income		Undistributed Long Term Capital Gains		Unrealized Appreciation/ (Depreciation)			Post-October Capital Losses Deferred
Series 1	$	2,895,228	$	1,538,660	$	4,718,329		$	—
Series 2		2,431,053		436,225		2,076,786			—
Series 3		2,841,330		—		1,253,918			(87,854	)
Series 4		1,669,414		955,856		3,156,371			—
Series 5		840,047		1,262,343		2,900,586			—
Series 6		2,219,068		3,140,928		5,192,740			—
Series 7		1,509,533		1,378,744		4,279,699			—
Series 8		1,559,338		507,175		2,582,147			—
Series 9		1,025,808		279,809		1,793,791			—
Series 10		994,462		24,767		1,533,419			—
Series 11		1,426,137		1,827		1,664,290			—
Series 12		1,889,690		2,460		5,041,258			—
Series 13		571,394		1,291		(619,316	)		—

47

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 12 — OTHER ACCOUNTING PRONOUNCEMENTS

In June 2006, the Financial Accounting Standards Board (“FASB”) issued FASB Interpretation No. 48 (“FIN 48”), “Accounting for Uncertainty in Income Taxes.” This standard defines the threshold for recognizing the benefits of tax-return positions in the financial statements as “more-likely-than-not” to be sustained upon challenge by the taxing authority and requires measurement of a tax position meeting the more-likely-than-not criterion, based on the largest benefit that is more than 50 percent likely to be realized. FIN 48 is effective for fiscal years beginning after December 15, 2006, with early application permitted if no interim financial statements have been issued. However, acknowledging the unique issues that FIN 48 presents for investment companies that calculate NAVs, the U.S. Securities and Exchange Commission (the “SEC”) has indicated that they would not object if a fund implements FIN 48 in its NAV calculation as late as its last NAV calculation in the first required financial statement reporting period for its fiscal year beginning after December 15, 2006. For calendar year-end funds, this would be no later than their June 29, 2007 NAV and the effects of FIN 48 would be reflected in the funds’ semi-annual financial statements contained in their Form N-CSR filing. At adoption, companies must adjust their financial statements to reflect only those tax positions that are more likely-than-not to be sustained as of the adoption date. Management of the Portfolios has analyzed the tax positions of the Portfolio’s. To date, this analysis reflects no uncertain tax positions that have not met the more likely-than-not standard.

On September 15, 2006, the FASB issued Statement of Financial Accounting Standards No. 157 (“SFAS No. 157”), “Fair Value Measurements.” The new accounting statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (“GAAP”), and expands disclosures about fair value measurements. SFAS No. 157 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). SFAS No. 157 also stipulates that, as a market-based measurement, fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability, and establishes a fair value hierarchy that distinguishes between (a) market participant assumptions developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (b) the

reporting entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007. As of June 30, 2007, management of the Portfolios is currently assessing the impact, if any, that will result from adopting SFAS No. 157.

NOTE 13 — INFORMATION REGARDING TRADING OF ING’S U.S. MUTUAL FUNDS

In 2004, ING Investments reported to the Boards of Directors/Trustees (the “Boards”) of the ING Funds that, like many U.S. financial services companies, ING Investments and certain of its U.S. affiliates have received informal and formal requests for information since September 2003 from various governmental and self-regulatory agencies in connection with investigations related to mutual funds and variable insurance products. ING Investments has advised the Boards that it and its affiliates have cooperated fully with each request.

In addition to responding to regulatory and governmental requests, ING Investments reported that management of U.S. affiliates of ING Groep, including ING Investments (collectively, “ING”), on their own initiative, have conducted, through independent special counsel and a national accounting firm, an extensive internal review of trading in ING insurance, retirement, and mutual fund products. The goal of this review was to identify any instances of inappropriate trading in those products by third parties or by ING investment professionals and other ING personnel. ING’s internal review related to mutual fund trading is now substantially completed. ING has reported that, of the millions of customer relationships that ING maintains, the internal review identified several isolated arrangements allowing third parties to engage in frequent trading of mutual funds within ING’s variable insurance and mutual fund products, and identified other circumstances where frequent trading occurred, despite measures taken by ING intended to combat market timing. ING further reported that each of these arrangements has been terminated and fully disclosed to regulators. The results of the internal review were also reported to the independent members of the Boards.

ING Investments has advised the Boards that most of the identified arrangements were initiated prior to ING’s acquisition of the businesses in question in the

48

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 13 — INFORMATION REGARDING TRADING OF ING’S U.S. MUTUAL FUNDS (continued)

U.S. ING Investments further reported that the companies in question did not receive special benefits in return for any of these arrangements, which have all been terminated.

Based on the internal review, ING Investments has advised the Boards that the identified arrangements do not represent a systemic problem in any of the companies that were involved.

In September 2005, IFD, the distributor of certain ING Funds, settled an administrative proceeding with the National Association of Securities Dealers (“NASD”) regarding three arrangements, dating from 1995, 1996 and 1998, under which the administrator to the then-Pilgrim Funds, which subsequently became part of the ING Funds, entered into formal and informal arrangements that permitted frequent trading. Under the terms of the Letter of Acceptance, Waiver and Consent (“AWC”) with the NASD, under which IFD neither admitted nor denied the allegations or findings, IFD consented to the following sanctions: (i) a censure; (ii) a fine of $1.5 million; (iii) restitution of approximately $1.44 million to certain ING Funds for losses attributable to excessive trading described in the AWC; and (iv) agreement to make certification to NASD regarding the review and establishment of certain procedures.

In addition to the arrangements discussed above, in 2004, ING Investments reported to the Boards that, at that time, these instances include the following, in addition to the arrangements subject to the AWC discussed above:

• Aeltus Investment Management, Inc. (a predecessor entity to ING IM) identified two investment professionals who engaged in extensive frequent trading in certain ING Funds. One was subsequently terminated for cause and incurred substantial financial penalties in connection with this conduct and the second has been disciplined.

• ReliaStar Life Insurance Company (“ReliaStar”) entered into agreements seven years ago permitting the owner of policies issued by the insurer to engage in frequent trading and to submit orders until 4pm Central Time. In 2001 ReliaStar also entered into a selling agreement with a broker-dealer that engaged in frequent trading. Employees of ING affiliates were terminated and/or disciplined in connection with these matters.

• In 1998, Gloden American Life Insurance Company entered into arrangements permitting a broker-dealer to frequently trade up to certain specific limits in a fund available in an ING variable annuity product. No employee responsible for this arrangement remains at the company.

For additional information regarding these matters, you may consult the Form 8-K and Form 8-K/A for each of four life insurance companies, ING USA Annuity and Life Insurance Company, ING Life Insurance and Annuity Company, ING Insurance Company of America, and ReliaStar Life Insurance Company of New York, each filed with the SEC on October 29, 2004 and September 8, 2004. These Forms 8-K and Forms 8-K/A can be accessed through the SEC’s web site at http://www.sec.gov. Despite the extensive internal review conducted through independent special counsel and a national accounting firm, there can be no assurance that the instances of inappropriate trading reported to the Board are the only instances of such trading respecting the ING Funds.

ING Investments reported to the Boards that ING is committed to conducting its business with the highest standards of ethical conduct with zero tolerance for noncompliance. Accordingly, ING Investments advised the Boards that ING management was disappointed that its voluntary internal review identified these situations. Viewed in the context of the breadth and magnitude of its U.S. business as a whole, ING management does not believe that ING’s acquired companies had systemic ethical or compliance issues in these areas. Nonetheless, ING Investments reported that given ING’s refusal to tolerate any lapses, it has taken the steps noted below, and will continue to seek opportunities to further strengthen the internal controls of its affiliates.

• ING has agreed with the ING Funds to indemnify and hold harmless the ING Funds from all damages resulting from wrongful conduct by ING or its employees or from ING’s internal investigation, any investigations conducted by any governmental or self-regulatory agencies, litigation or other formal proceedings, including any proceedings by the SEC. ING investments reported to the Board that ING management believes that the total amount of any indemnification obligations will not be material to ING or its U.S. business.

• ING updated its Code of Conduct for employees reinforcing its employees’ obligation to conduct personal trading activity consistent with the law, disclosed limits, and other requirements.

49

NOTES TO FINANCIAL STATEMENTSASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

NOTE 13 — INFORMATION REGARDING TRADING OF ING’S U.S. MUTUAL FUNDS (continued)

• The ING Funds, upon a recommendation from ING, updated their respective Codes of Ethics applicable to investment professionals with ING entities and certain other fund personnel, requiring such personnel to pre-clear any purchases or sales of ING Funds that are not systematic in nature (i.e., dividend reinvestment), and imposing minimum holding periods for shares of ING Funds.

• ING instituted excessive trading policies for all customers in its variable insurance and retirement products and for shareholders of the ING Funds sold to the public through financial intermediaries. ING does not make exceptions to these policies.

• ING reorganized and expanded its U.S. Compliance Department, and created an Enterprise Compliance team to enhance controls and consistency in regulatory compliance.

Other Regulatory Matters

The New York Attorney General (the “NYAG”) and other federal and state regulators are also conducting broad inquiries and investigations involving the insurance industry. These initiatives currently focus on, among other things, compensation and other sales incentives; potential conflicts of interest; potential anti-competitive activity; reinsurance; marketing practices (including suitability); specific product types (including group annuities and indexed annuities); fund selection for investment products and brokerage sales; and disclosure. It is likely that the scope of these industry investigations will further broaden before they conclude. ING has received formal and informal requests in connection with such investigations, and is cooperating fully with each request. In connection with one such investigation, affiliates of ING Investments were named in a petition for relief and cease and desist order filed by the New Hampshire Bureau of Securities Regulation (the “NH Bureau”) concerning their administration of the New Hampshire state employees deferred compensation plan.

On October 10, 2006, an affiliate of ING Investments entered into an assurance of discontinuance with the NYAG (the “NYAG Agreement”) regarding the

endorsement of its products by the New York State United Teachers Union Member Benefits Trust (“NYSUT”) and the sale of their products to NYSUT members. Under the terms of the NYGA Agreement, the affiliate of ING Investments, without admitting or denying the NYAG’s findings, will distribute $30 million to NYSUT members, and/or former NYSUT members, who participated in the NYSUT-endorsed products at any point between January 1, 2001 and June 30, 2006. The affiliate also agreed with the NYAG’s office to develop a one-page disclosure that will further improve transparency and disclosure regarding retirement product fees (the “One-Page Disclosure”). Pursuant to the terms of the NYAG Agreement, the affiliate has

agreed for a five year period to provide its retirement product customers with the One-Page Disclosure.

In addition, on the same date, these affiliates of ING Investments entered into a consent agreement with the NH Bureau (the “NH Agreement”) to resolve this petition for relief and cease and desist order. Under the terms of the NH Agreement, these affiliates of ING Investments, without admitting or denying the NH Bureau’s claims, have agreed to pay $3 million to resolve the matter, and for a five year period to provide their retirement product customers with the One-Page Disclosure described above.

Other federal and state regulators could initiate similar actions in this or other areas of ING’s businesses.

These regulatory initiatives may result in new legislation and regulation that could significantly affect the financial services industry, including businesses in which ING is engaged.

In light of these and other developments, ING continuously reviews whether modifications to its business practices are appropriate.

At this time, in light of the current regulatory factors, ING U.S. is actively engaged in reviewing whether any modifications in our practices are appropriate for the future.

There can be no assurance that these matters, or the adverse publicity associated with them, will not result in increased fund redemptions, reduced sale of fund shares, or other adverse consequences to ING Funds.

50

ING GET U.S. CORE PORTFOLIO SERIES 1 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 58.9%
Advertising: 0.1%
2,600		Omnicom Group	$	137,592
				137,592
Aerospace/Defense: 1.4%
3,450		Boeing Co.		331,752
2,300		General Dynamics Corp.		179,906
500		Goodrich Corp.		29,780
650		L-3 Communications Holdings, Inc.		63,304
2,160		Lockheed Martin Corp.		203,321
1,243		Northrop Grumman Corp.		96,792
3,365		Raytheon Co.		181,340
5,300		United Technologies Corp.		375,929
				1,462,124
Agriculture: 0.9%
9,600		Altria Group, Inc.		673,344
2,770		Archer-Daniels-Midland Co.		91,659
980		Reynolds American, Inc.		63,896
1,200		UST, Inc.		64,452
				893,351
Apparel: 0.3%
2,600	@	Coach, Inc.		123,214
2,240		Nike, Inc.		130,570
400		Polo Ralph Lauren Corp.		39,244
				293,028
Auto Manufacturers: 0.3%
9,700		Ford Motor Co.		91,374
2,100		General Motors Corp.		79,380

Shares			Value
1,500		Paccar, Inc.	$	130,560
				301,314
Auto Parts & Equipment: 0.1%
900	@	Goodyear Tire & Rubber Co.		31,284
700		Johnson Controls, Inc.		81,039
				112,323
Banks: 3.6%
20,920		Bank of America Corp.		1,022,779
3,200	@	Bank of New York Co., Inc.		132,608
2,360		BB&T Corp.		96,005
1,751		Capital One Financial Corp.		137,348
1,200		Comerica, Inc.		71,364
500		Compass Bancshares, Inc.		34,490
1,200		Fifth Third Bancorp.		47,724
4,950		Huntington Bancshares, Inc.		112,563
3,850		Keycorp.		132,171
1,300		Marshall & Ilsley Corp.		61,919
2,500		Mellon Financial Corp.		110,000
2,460		National City Corp.		81,967
500		Northern Trust Corp.		32,120
1,000		PNC Financial Services Group, Inc.		71,580
4,636		Regions Financial Corp.		153,452
1,500		State Street Corp.		102,600
1,100		SunTrust Banks, Inc.		94,314
5,200		US Bancorp.		171,340
9,486		Wachovia Corp.		486,158
16,700		Wells Fargo & Co.		587,339
				3,739,841
Beverages: 1.2%
2,900		Anheuser-Busch Cos., Inc.		151,264
8,900		Coca-Cola Co.		465,559
1,950		Pepsi Bottling Group, Inc.		65,676
7,670		PepsiCo, Inc.		497,400
				1,179,899
Biotechnology: 0.5%
5,100	@	Amgen, Inc.		281,979
1,300	@	Biogen Idec, Inc.		69,550
1,460	@	Celgene Corp.		83,702
1,350	@	Genzyme Corp.		86,940
				522,171
Building Materials: 0.1%
600		American Standard Cos., Inc.		35,388
3,250		Masco Corp.		92,528
				127,916
Chemicals: 1.0%
350		Air Products & Chemicals, Inc.		28,130
700		Ashland, Inc.		44,765
4,000		Dow Chemical Co.		176,880
800		Ecolab, Inc.		34,160
3,200		EI DuPont de Nemours & Co.		162,688
1,300		International Flavors & Fragrances, Inc.		67,782
2,680		Monsanto Co.		181,007
1,350		PPG Industries, Inc.		102,749
700		Praxair, Inc.		50,393
950		Sherwin-Williams Co.		63,147
1,800		Sigma-Aldrich Corp.		76,806
				988,507

See Accompanying Notes to Financial Statements

51

ING GET U.S. CORE PORTFOLIO SERIES 1 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Coal: 0.1%
800		Consol Energy, Inc.	$	36,888
1,110		Peabody Energy Corp.		53,702
				90,590
Commercial Services: 0.4%
800	@	Apollo Group, Inc.		46,744
1,800	@	Convergys Corp.		43,632
850		Equifax, Inc.		37,757
1,720		McKesson Corp.		102,581
1,000		Moody’s Corp.		62,200
750		Robert Half International, Inc.		27,375
1,200		RR Donnelley & Sons Co.		52,212
2,870		Western Union Co.		59,782
				432,283
Computers: 2.6%
400	@	Affiliated Computer Services, Inc.		22,688
4,000	@	Apple, Inc.		488,160
300	@	Cognizant Technology Solutions Corp.		22,527
900	@	Computer Sciences Corp.		53,235
11,400	@	Dell, Inc.		325,470
2,800		Electronic Data Systems Corp.		77,644
11,700	@	EMC Corp.		211,770
12,400		Hewlett-Packard Co.		553,288
6,500		International Business Machines Corp.		684,125
750	@	Lexmark International, Inc.		36,983
700	@	NCR Corp.		36,778
1,950	@	Network Appliance, Inc.		56,940
1,000	@	Sandisk Corp.		48,940
14,000	@	Sun Microsystems, Inc.		73,640
				2,692,188
Cosmetics/Personal Care: 1.1%
1,300		Avon Products, Inc.		47,775
2,150		Colgate-Palmolive Co.		139,428
800		Estee Lauder Cos., Inc.		36,408
15,176		Procter & Gamble Co.		928,619
				1,152,230
Distribution/Wholesale: 0.0%
550		WW Grainger, Inc.		51,178
				51,178
Diversified Financial Services: 4.8%
5,200		American Express Co.		318,136
1,240		Ameriprise Financial, Inc.		78,827
600		Bear Stearns Cos., Inc.		84,000
4,050		Charles Schwab Corp.		83,106
150		Chicago Mercantile Exchange Holdings, Inc.		80,154
1,150		CIT Group, Inc.		63,055
21,750		Citigroup, Inc.		1,115,558
2,708		Countrywide Financial Corp.		98,436
1,200	@	E*Trade Financial Corp.		26,508
3,900		Fannie Mae		254,787
700		Franklin Resources, Inc.		92,729
3,000		Freddie Mac		182,100
2,050		Goldman Sachs Group, Inc.		444,338
1,200		Janus Capital Group, Inc.		33,408
16,900		JP Morgan Chase & Co.		818,805
300		Legg Mason, Inc.		29,514
2,520		Lehman Brothers Holdings, Inc.		187,790
4,500		Merrill Lynch & Co., Inc.		376,110

Shares			Value
5,350		Morgan Stanley	$	448,758
1,800		SLM Corp.		103,644
600		T. Rowe Price Group, Inc.		31,134
				4,950,897
Electric: 2.0%
2,660	@	AES Corp.		58,201
1,250		American Electric Power Co., Inc.		56,300
1,700		CMS Energy Corp.		29,240
1,150		Constellation Energy Group, Inc.		100,246
1,800		Dominion Resources, Inc.		155,358
2,300		DTE Energy Co.		110,906
1,800		Duke Energy Corp.		32,940
3,100		Edison International		173,972
2,200		Entergy Corp.		236,170
3,200		Exelon Corp.		232,320
2,510		FirstEnergy Corp.		162,472
3,100		FPL Group, Inc.		175,894
2,800		PG&E Corp.		126,840
700		PPL Corp.		32,753
1,600		Public Service Enterprise Group, Inc.		140,448
1,800		TECO Energy, Inc.		30,924
2,140		TXU Corp.		144,022
				1,999,006
Electrical Components & Equipment: 0.1%
2,800		Emerson Electric Co.		131,040
				131,040
Electronics: 0.2%
1,350	@	Agilent Technologies, Inc.		51,894
1,300		Tektronix, Inc.		43,862
2,200	@	Thermo Electron Corp.		113,784
550	@	Waters Corp.		32,648
				242,188
Engineering & Construction: 0.0%
300		Fluor Corp.		33,411
				33,411
Entertainment: 0.0%
1,050		International Game Technology		41,685
				41,685
Environmental Control: 0.2%
2,200	@	Allied Waste Industries, Inc.		29,612
3,400		Waste Management, Inc.		132,770
				162,382
Food: 1.0%
1,550		Campbell Soup Co.		60,156
800	@	Dean Foods Co.		25,496
3,200		General Mills, Inc.		186,944
600		Hershey Co.		30,372
3,550		HJ Heinz Co.		168,519
1,100		Kellogg Co.		56,969
5,451		Kraft Foods, Inc.		192,148
3,500		Kroger Co.		98,455
2,000		Safeway, Inc.		68,060
700		Supervalu, Inc.		32,424
800		Sysco Corp.		26,392
600		Whole Foods Market, Inc.		22,980
500		WM Wrigley Jr. Co.		27,655
				996,570

See Accompanying Notes to Financial Statements

52

ING GET U.S. CORE PORTFOLIO SERIES 1 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Forest Products & Paper: 0.2%
2,200		International Paper Co.	$	85,910
1,000		Temple-Inland, Inc.		61,530
400		Weyerhaeuser Co.		31,572
				179,012
Gas: 0.1%
700		KeySpan Corp.		29,386
1,500		Sempra Energy		88,845
				118,231
Hand/Machine Tools: 0.1%
650		Black & Decker Corp.		57,402
750		Snap-On, Inc.		37,883
850		Stanley Works		51,595
				146,880
Healthcare - Products: 1.7%
3,300		Baxter International, Inc.		185,922
1,240		Becton Dickinson & Co.		92,380
1,000		Biomet, Inc.		45,720
4,600	@	Boston Scientific Corp.		70,564
600		CR Bard, Inc.		49,578
14,100		Johnson & Johnson		868,842
4,700		Medtronic, Inc.		243,742
1,100	@	St. Jude Medical, Inc.		45,639
1,100		Stryker Corp.		69,399
500	@	Varian Medical Systems, Inc.		21,255
1,000	@	Zimmer Holdings, Inc.		84,890
				1,777,931
Healthcare - Services: 0.8%
2,540		Aetna, Inc.		125,476
910	@	Coventry Health Care, Inc.		52,462
900	@	Humana, Inc.		54,819
450	@	Laboratory Corp. of America Holdings		35,217
6,520		UnitedHealth Group, Inc.		333,433
2,770	@	WellPoint, Inc.		221,129
				822,536
Home Builders: 0.1%
1,000		Centex Corp.		40,100
1,100		KB Home		43,307
600		Lennar Corp.		21,936
				105,343
Home Furnishings: 0.1%
300		Harman International Industries, Inc.		35,040
300		Whirlpool Corp.		33,360
				68,400
Household Products/Wares: 0.2%
400		Clorox Co.		24,840
2,750		Kimberly-Clark Corp.		183,948
				208,788
Housewares: 0.0%
1,200		Newell Rubbermaid, Inc.		35,316
				35,316
Insurance: 3.3%
1,840	@@	ACE Ltd.		115,037
2,350		Aflac, Inc.		120,790
3,730		Allstate Corp.		229,432
350		AMBAC Financial Group, Inc.		30,517

Shares			Value
12,100		American International Group, Inc.	$	847,363
1,650		AON Corp.		70,307
700		Assurant, Inc.		41,244
2,680		Chubb Corp.		145,095
1,530		Cigna Corp.		79,897
3,000		Genworth Financial, Inc.		103,200
1,800		Hartford Financial Services Group, Inc.		177,318
1,128		Lincoln National Corp.		80,032
1,760		Loews Corp.		89,725
2,000		Marsh & McLennan Cos., Inc.		61,760
800		MBIA, Inc.		49,776
3,940		Metlife, Inc.		254,051
400		MGIC Investment Corp.		22,744
1,850		Principal Financial Group		107,837
4,420		Progressive Corp.		105,771
2,530		Prudential Financial, Inc.		245,992
630		Safeco Corp.		39,224
600		Torchmark Corp.		40,200
3,170		Travelers Cos., Inc.		169,595
1,100		UnumProvident Corp.		28,721
1,000	@@	XL Capital Ltd.		84,290
				3,339,918
Internet: 1.1%
1,500	@	Amazon.com, Inc.		102,615
5,350	@	eBay, Inc.		172,163
1,000	@	Google, Inc.		523,380
1,200	@	IAC/InterActiveCorp.		41,532
5,059	@	Symantec Corp.		102,192
1,200	@	VeriSign, Inc.		38,076
5,500	@	Yahoo!, Inc.		149,215
				1,129,173
Iron/Steel: 0.2%
400		Allegheny Technologies, Inc.		41,952
1,800		Nucor Corp.		105,570
700		United States Steel Corp.		76,125
				223,647
Leisure Time: 0.2%
1,850		Carnival Corp.		90,225
1,200		Harley-Davidson, Inc.		71,532
				161,757
Lodging: 0.2%
800		Harrah’s Entertainment, Inc.		68,208
900		Hilton Hotels Corp.		30,123
1,000		Marriott International, Inc.		43,240
600		Starwood Hotels & Resorts Worldwide, Inc.		40,242
				181,813
Machinery - Construction & Mining: 0.3%
3,300		Caterpillar, Inc.		258,390
400	@	Terex Corp.		32,520
				290,910
Machinery - Diversified: 0.3%
900		Cummins, Inc.		91,089
1,200		Deere & Co.		144,888
650		Rockwell Automation, Inc.		45,136
				281,113

See Accompanying Notes to Financial Statements

53

ING GET U.S. CORE PORTFOLIO SERIES 1 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Media: 1.7%
3,375		CBS Corp. - Class B	$	112,455
2,000		Clear Channel Communications, Inc.		75,640
11,100	@	Comcast Corp. - Class A		312,132
4,400	@	DIRECTV Group, Inc.		101,684
1,300		Gannett Co., Inc.		71,435
2,520		McGraw-Hill Cos., Inc.		171,562
11,300		News Corp., Inc. - Class A		239,673
13,000		Time Warner, Inc.		273,520
2,700	@	Viacom - Class B		112,401
9,350		Walt Disney Co.		319,209
				1,789,711
Metal Fabricate/Hardware: 0.0%
300		Precision Castparts Corp.		36,408
				36,408
Mining: 0.3%
3,900		Alcoa, Inc.		158,067
1,762		Freeport-McMoRan Copper & Gold, Inc.		145,929
1,300		Newmont Mining Corp.		50,778
				354,774
Miscellaneous Manufacturing: 3.2%
3,550		3M Co.		308,105
1,200		Cooper Industries Ltd.		68,508
1,050		Danaher Corp.		79,275
2,600		Eastman Kodak Co.		72,358
1,550		Eaton Corp.		144,150
43,750		General Electric Co.		1,674,727
3,400		Honeywell International, Inc.		191,352
2,600		Illinois Tool Works, Inc.		140,894
1,400		ITT Corp.		95,592
700		Pall Corp.		32,193
1,050		Parker Hannifin Corp.		102,806
300		Textron, Inc.		33,033
9,100	@	Tyco International Ltd.		307,489
				3,250,482
Office/Business Equipment: 0.1%
5,300	@	Xerox Corp.		97,944
				97,944
Oil & Gas: 5.4%
2,400		Anadarko Petroleum Corp.		124,776
900		Apache Corp.		73,431
1,800		Chesapeake Energy Corp.		62,280
10,776		Chevron Corp.		907,770
8,034		ConocoPhillips		630,669
2,300		Devon Energy Corp.		180,067
1,100		ENSCO International, Inc.		67,111
500		EOG Resources, Inc.		36,530
26,800		ExxonMobil Corp.		2,247,984
1,000		Hess Corp.		58,960
4,300		Marathon Oil Corp.		257,828
500		Murphy Oil Corp.		29,720
1,300	@, @@	Nabors Industries Ltd.		43,394
700		Noble Corp.		68,264
4,300		Occidental Petroleum Corp.		248,884
900		Sunoco, Inc.		71,712
1,300	@	Transocean, Inc.		137,774

Shares			Value
2,750		Valero Energy Corp.	$	203,115
1,200		XTO Energy, Inc.		72,120
				5,522,389
Oil & Gas Services: 0.9%
1,200		Baker Hughes, Inc.		100,956
5,400		Halliburton Co.		186,300
1,200	@	National Oilwell Varco, Inc.		125,088
5,000		Schlumberger Ltd.		424,700
800	@	Weatherford International Ltd.		44,192
				881,236
Packaging & Containers: 0.2%
600		Ball Corp.		31,902
800		Bemis Co.		26,544
2,100	@	Pactiv Corp.		66,969
1,600		Sealed Air Corp.		49,632
				175,047
Pharmaceuticals: 3.3%
5,800		Abbott Laboratories		310,590
1,620		AmerisourceBergen Corp.		80,141
500	@	Barr Pharmaceuticals, Inc.		25,115
8,700		Bristol-Myers Squibb Co.		274,572
1,770		Cardinal Health, Inc.		125,033
3,800		Eli Lilly & Co.		212,344
820	@	Express Scripts, Inc.		41,008
1,800	@	Forest Laboratories, Inc.		82,170
4,000	@	Gilead Sciences, Inc.		155,080
1,500	@	King Pharmaceuticals, Inc.		30,690
1,100	@	Medco Health Solutions, Inc.		85,789
9,850		Merck & Co., Inc.		490,530
1,800		Mylan Laboratories		32,742
32,450		Pfizer, Inc.		829,747
7,300		Schering-Plough Corp.		222,212
1,000	@	Watson Pharmaceuticals, Inc.		32,530
5,950		Wyeth		341,173
				3,371,466
Pipelines: 0.2%
2,600		El Paso Corp.		44,798
800		Questar Corp.		42,280
2,400		Spectra Energy Corp.		62,304
2,450		Williams Cos., Inc.		77,469
				226,851
Real Estate Investment Trusts: 0.5%
350		Apartment Investment & Management Co.		17,647
850		Archstone-Smith Trust		50,244
600		Boston Properties, Inc.		61,278
710		Developers Diversified Realty Corp.		37,424
600		Equity Residential		27,378
1,700		Host Hotels & Resorts, Inc.		39,304
800		Kimco Realty Corp.		30,456
1,200		Prologis		68,280
800		Simon Property Group, Inc.		74,432
600		Vornado Realty Trust		65,904
				472,347
Retail: 3.3%
500	@	Autozone, Inc.		68,310
700	@	Bed Bath & Beyond, Inc.		25,193
2,105		Best Buy Co., Inc.		98,240

See Accompanying Notes to Financial Statements

54

ING GET U.S. CORE PORTFOLIO SERIES 1 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail (continued)
900	@	Big Lots, Inc.	$	26,478
2,400		Costco Wholesale Corp.		140,448
5,555		CVS Corp.		202,480
840		Darden Restaurants, Inc.		36,952
1,300		Dollar General Corp.		28,496
1,550		Family Dollar Stores, Inc.		53,196
2,800		Gap, Inc.		53,480
7,920		Home Depot, Inc.		311,652
1,250		JC Penney Co., Inc.		90,475
1,350	@	Kohl’s Corp.		95,891
6,900		Lowe’s Cos., Inc.		211,761
3,126		Macy’s, Inc.		124,352
6,300		McDonald’s Corp.		319,788
1,600		Nordstrom, Inc.		81,792
950	@	Office Depot, Inc.		28,785
1,300		RadioShack Corp.		43,082
420	@	Sears Holding Corp.		71,190
2,385		Staples, Inc.		56,596
2,900	@	Starbucks Corp.		76,096
3,700		Target Corp.		235,320
2,350		TJX Cos., Inc.		64,625
4,640		Walgreen Co.		202,026
10,400		Wal-Mart Stores, Inc.		500,344
1,100		Wendy’s International, Inc.		40,425
2,700		Yum! Brands, Inc.		88,344
				3,375,817
Savings & Loans: 0.3%
2,400		Hudson City Bancorp., Inc.		29,328
1,300		Sovereign Bancorp., Inc.		27,482
4,949		Washington Mutual, Inc.		211,025
				267,835
Semiconductors: 1.5%
2,000	@	Advanced Micro Devices, Inc.		28,600
2,200		Altera Corp.		48,686
1,200		Analog Devices, Inc.		45,168
3,750		Applied Materials, Inc.		74,513
1,500	@	Broadcom Corp.		43,875
25,610		Intel Corp.		608,494
1,400		KLA-Tencor Corp.		76,930
1,400		Linear Technology Corp.		50,652
2,700	@	LSI Logic Corp.		20,277
1,150		Maxim Integrated Products		38,422
1,000	@	MEMC Electronic Materials, Inc.		61,120
2,800	@	Micron Technology, Inc.		35,084
1,150		National Semiconductor Corp.		32,511
1,200	@	Novellus Systems, Inc.		34,044
1,300	@	Nvidia Corp.		53,703
1,800	@	Teradyne, Inc.		31,644
5,800		Texas Instruments, Inc.		218,254
1,200		Xilinx, Inc.		32,124
				1,534,101
Software: 2.3%
2,300	@	Adobe Systems, Inc.		92,345
1,220	@	Autodesk, Inc.		57,438
2,750		Automatic Data Processing, Inc.		133,293
1,300	@	BMC Software, Inc.		39,390
3,150		CA, Inc.		81,365
1,400	@	Citrix Systems, Inc.		47,138
3,550	@	Compuware Corp.		42,103
1,150	@	Electronic Arts, Inc.		54,418

Shares			Value
3,570		First Data Corp.	$	116,632
1,150	@	Fiserv, Inc.		65,320
2,300	@	Intuit, Inc.		69,184
36,650		Microsoft Corp.		1,080,076
3,700	@	Novell, Inc.		28,823
16,510	@	Oracle Corp.		325,412
1,900		Paychex, Inc.		74,328
				2,307,265
Telecommunications: 3.8%
1,200	@@	Allergan, Inc.		69,168
1,400		Alltel Corp.		94,570
27,975		AT&T, Inc.		1,160,963
2,150	@	Avaya, Inc.		36,206
1,300		CenturyTel, Inc.		63,765
28,350	@	Cisco Systems, Inc.		789,548
3,800		Citizens Communications Co.		58,026
7,550	@	Corning, Inc.		192,903
887		Embarq Corp.		56,209
2,200	@	Juniper Networks, Inc.		55,374
10,400		Motorola, Inc.		184,080
7,350		Qualcomm, Inc.		318,917
7,500	@	Qwest Communications International, Inc.		72,750
11,552		Sprint Nextel Corp.		239,242
2,700	@	Tellabs, Inc.		29,052
11,700		Verizon Communications, Inc.		481,689
				3,902,462
Toys/Games/Hobbies: 0.1%
1,300		Hasbro, Inc.		40,833
2,800		Mattel, Inc.		70,812
				111,645
Transportation: 0.9%
1,100		Burlington Northern Santa Fe Corp.		93,654
500		CH Robinson Worldwide, Inc.		26,260
1,860		CSX Corp.		83,849
1,500		FedEx Corp.		166,455
1,900		Norfolk Southern Corp.		99,883
1,150		Union Pacific Corp.		132,423
4,000		United Parcel Service, Inc.		292,000
				894,524
		Total Common Stock (Cost $54,204,994)		60,376,786

Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 39.0%
	Federal Home Loan Bank: 12.5%
$	13,550,000	Z	5.340%, due 09/12/08	12,728,518
				12,728,518
	Federal Home Loan Mortgage Corporation: 10.5%
	11,500,000	^^	5.200%, due 10/15/08	10,770,728
				10,770,728

See Accompanying Notes to Financial Statements

55

ING GET U.S. CORE PORTFOLIO SERIES 1 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount				Value
	Other U.S. Agency Obligations: 16.0%
$	17,600,000	Z	Tennessee Valley Authority, 5.280%, due 11/13/08	$	16,400,683
					16,400,683
			Total U.S. Government Agency Obligations (Cost $40,778,194)		39,899,929
	U.S. TREASURY OBLIGATIONS: 1.6%
	U.S. Treasury STRIP: 1.6%
	1,747,000	^^	5.020%, due 08/15/08		1,653,221
			Total U.S. Treasury Obligations (Cost $1,654,544)		1,653,221
			Total Long-Term Investments (Cost $96,637,732)		101,929,936

SHORT-TERM INVESTMENTS: 0.6%
Repurchase Agreement: 0.6%
565,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $565,250 to be received upon repurchase (Collateralized by $1,195,000 Resolution Funding Corporation, Discount Note, Market Value $577,352, due 10/15/20)				565,000
	Total Short-Term Investments (Cost $565,000)				565,000
	Total Investments in Securities (Cost $97,202,732)*	100.1	%	$	102,494,936
	Other Assets and Liabilities - Net	(0.1	)		(56,999	)
	Net Assets	100.0	%	$	102,437,937

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

^^ Principal Only (PO) Security

Z Indicates Zero Coupon Bond; rate shown reflects effective yield on the date of purchase

* Cost for federal income tax purposes is $97,875,073.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	6,374,669
Gross Unrealized Depreciation		(1,754,806	)
Net Unrealized Appreciation	$	4,619,863

See Accompanying Notes to Financial Statements

56

ING GET U.S. CORE PORTFOLIO SERIES 2 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 46.2%
Advertising: 0.1%
1,600		Omnicom Group	$	84,672
				84,672
Aerospace/Defense: 1.1%
1,760		Boeing Co.		169,242
1,350		General Dynamics Corp.		105,597
300		Goodrich Corp.		17,868
400		L-3 Communications Holdings, Inc.		38,956
1,210		Lockheed Martin Corp.		113,897
808		Northrop Grumman Corp.		62,919
1,924		Raytheon Co.		103,684
2,780		United Technologies Corp.		197,185
				809,348
Agriculture: 0.7%
5,410		Altria Group, Inc.		379,457
1,750		Archer-Daniels-Midland Co.		57,908
840		Reynolds American, Inc.		54,768
900		UST, Inc.		48,339
				540,472
Apparel: 0.2%
1,660	@	Coach, Inc.		78,667
1,280		Nike, Inc.		74,611
300		Polo Ralph Lauren Corp.		29,433
				182,711

Shares			Value
Auto Manufacturers: 0.3%
7,570		Ford Motor Co.	$	71,309
1,300		General Motors Corp.		49,140
1,000		Paccar, Inc.		87,040
				207,489
Auto Parts & Equipment: 0.1%
600	@	Goodyear Tire & Rubber Co.		20,856
450		Johnson Controls, Inc.		52,097
				72,953
Banks: 2.9%
11,744		Bank of America Corp.		574,164
1,760	@	Bank of New York Co., Inc.		72,934
1,611		BB&T Corp.		65,535
1,109		Capital One Financial Corp.		86,990
840		Comerica, Inc.		49,955
300		Compass Bancshares, Inc.		20,694
700		Fifth Third Bancorp.		27,839
3,060		Huntington Bancshares, Inc.		69,584
2,620		Keycorp.		89,945
900		Marshall & Ilsley Corp.		42,867
1,600		Mellon Financial Corp.		70,400
1,640		National City Corp.		54,645
300		Northern Trust Corp.		19,272
730		PNC Financial Services Group, Inc.		52,253
2,649		Regions Financial Corp.		87,682
930		State Street Corp.		63,612
690		SunTrust Banks, Inc.		59,161
2,960		US Bancorp.		97,532
5,239		Wachovia Corp.		268,499
9,520		Wells Fargo & Co.		334,818
				2,208,381
Beverages: 0.9%
1,850		Anheuser-Busch Cos., Inc.		96,496
5,020		Coca-Cola Co.		262,596
1,180		Pepsi Bottling Group, Inc.		39,742
4,290		PepsiCo, Inc.		278,207
				677,041
Biotechnology: 0.4%
2,940	@	Amgen, Inc.		162,553
900	@	Biogen Idec, Inc.		48,150
810	@	Celgene Corp.		46,437
800	@	Genzyme Corp.		51,520
				308,660
Building Materials: 0.1%
400		American Standard Cos., Inc.		23,592
2,100		Masco Corp.		59,787
				83,379
Chemicals: 0.8%
200		Air Products & Chemicals, Inc.		16,074
700		Ashland, Inc.		44,765
2,360		Dow Chemical Co.		104,359
600		Ecolab, Inc.		25,620
1,800		EI DuPont de Nemours & Co.		91,512
920		International Flavors & Fragrances, Inc.		47,969
1,500		Monsanto Co.		101,310
890		PPG Industries, Inc.		67,738
600		Praxair, Inc.		43,194

See Accompanying Notes to Financial Statements

57

ING GET U.S. CORE PORTFOLIO SERIES 2 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Chemicals (continued)
680		Sherwin-Williams Co.	$	45,200
1,200		Sigma-Aldrich Corp.		51,204
				638,945
Coal: 0.1%
400		Consol Energy, Inc.		18,444
640		Peabody Energy Corp.		30,963
				49,407
Commercial Services: 0.4%
700	@	Apollo Group, Inc.		40,901
1,100	@	Convergys Corp.		26,664
580		Equifax, Inc.		25,764
1,010		McKesson Corp.		60,236
580		Moody’s Corp.		36,076
650		Robert Half International, Inc.		23,725
800		RR Donnelley & Sons Co.		34,808
1,838		Western Union Co.		38,286
				286,460
Computers: 2.1%
300	@	Affiliated Computer Services, Inc.		17,016
2,300	@	Apple, Inc.		280,692
300	@	Cognizant Technology Solutions Corp.		22,527
700	@	Computer Sciences Corp.		41,405
6,420	@	Dell, Inc.		183,291
2,000		Electronic Data Systems Corp.		55,460
6,740	@	EMC Corp.		121,994
6,970		Hewlett-Packard Co.		311,001
3,690		International Business Machines Corp.		388,373
340	@	Lexmark International, Inc.		16,765
390	@	NCR Corp.		20,491
1,360	@	Network Appliance, Inc.		39,712
700	@	Sandisk Corp.		34,258
10,000	@	Sun Microsystems, Inc.		52,600
				1,585,585
Cosmetics/Personal Care: 0.9%
900		Avon Products, Inc.		33,075
1,170		Colgate-Palmolive Co.		75,875
600		Estee Lauder Cos., Inc.		27,306
8,687		Procter & Gamble Co.		531,558
				667,814
Distribution/Wholesale: 0.0%
350		WW Grainger, Inc.		32,568
				32,568
Diversified Financial Services: 3.7%
2,890		American Express Co.		176,810
838		Ameriprise Financial, Inc.		53,272
350		Bear Stearns Cos., Inc.		49,000
2,850		Charles Schwab Corp.		58,482
90		Chicago Mercantile Exchange Holdings, Inc.		48,092
800		CIT Group, Inc.		43,864
12,240		Citigroup, Inc.		627,790
1,760		Countrywide Financial Corp.		63,976
900	@	E*Trade Financial Corp.		19,881
2,320		Fannie Mae		151,566
480		Franklin Resources, Inc.		63,586

Shares			Value
1,500		Freddie Mac	$	91,050
1,090		Goldman Sachs Group, Inc.		236,258
800		Janus Capital Group, Inc.		22,272
9,400		JP Morgan Chase & Co.		455,430
200		Legg Mason, Inc.		19,676
1,500		Lehman Brothers Holdings, Inc.		111,780
2,510		Merrill Lynch & Co., Inc.		209,786
3,030		Morgan Stanley		254,156
1,100		SLM Corp.		63,338
400		T. Rowe Price Group, Inc.		20,756
				2,840,821
Electric: 1.5%
1,180	@	AES Corp.		25,818
790		American Electric Power Co., Inc.		35,582
1,100		CMS Energy Corp.		18,920
590		Constellation Energy Group, Inc.		51,430
1,000		Dominion Resources, Inc.		86,310
1,400		DTE Energy Co.		67,508
1,000		Duke Energy Corp.		18,300
1,630		Edison International		91,476
1,200		Entergy Corp.		128,820
1,800		Exelon Corp.		130,680
1,370		FirstEnergy Corp.		88,680
1,700		FPL Group, Inc.		96,458
1,790		PG&E Corp.		81,087
400		PPL Corp.		18,716
1,050		Public Service Enterprise Group, Inc.		92,169
1,200		TECO Energy, Inc.		20,616
1,000		TXU Corp.		67,300
				1,119,870
Electrical Components & Equipment: 0.1%
1,820		Emerson Electric Co.		85,176
				85,176
Electronics: 0.2%
1,030	@	Agilent Technologies, Inc.		39,593
800		Tektronix, Inc.		26,992
1,350	@	Thermo Electron Corp.		69,822
300	@	Waters Corp.		17,808
				154,215
Engineering & Construction: 0.0%
200		Fluor Corp.		22,274
				22,274
Entertainment: 0.0%
650		International Game Technology		25,805
				25,805
Environmental Control: 0.1%
1,500	@	Allied Waste Industries, Inc.		20,190
2,130		Waste Management, Inc.		83,177
				103,367
Food: 0.7%
800		Campbell Soup Co.		31,048
500	@	Dean Foods Co.		15,935
1,700		General Mills, Inc.		99,314
400		Hershey Co.		20,248
1,950		HJ Heinz Co.		92,567
700		Kellogg Co.		36,253
2,613		Kraft Foods, Inc.		92,108

See Accompanying Notes to Financial Statements

58

ING GET U.S. CORE PORTFOLIO SERIES 2 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Food (continued)
2,150		Kroger Co.	$	60,480
1,300		Safeway, Inc.		44,239
400		Supervalu, Inc.		18,528
500		Sysco Corp.		16,495
400		Whole Foods Market, Inc.		15,320
300		WM Wrigley Jr. Co.		16,593
				559,128
Forest Products & Paper: 0.1%
1,400		International Paper Co.		54,670
400		Temple-Inland, Inc.		24,612
400		Weyerhaeuser Co.		31,572
				110,854
Gas: 0.1%
400		KeySpan Corp.		16,792
910		Sempra Energy		53,899
				70,691
Hand/Machine Tools: 0.1%
290		Black & Decker Corp.		25,610
600		Snap-On, Inc.		30,306
550		Stanley Works		33,385
				89,301
Healthcare - Products: 1.3%
1,810		Baxter International, Inc.		101,975
600		Becton Dickinson & Co.		44,700
600		Biomet, Inc.		27,432
3,300	@	Boston Scientific Corp.		50,622
400		CR Bard, Inc.		33,052
7,670		Johnson & Johnson		472,625
2,700		Medtronic, Inc.		140,022
700	@	St. Jude Medical, Inc.		29,043
800		Stryker Corp.		50,472
300	@	Varian Medical Systems, Inc.		12,753
700	@	Zimmer Holdings, Inc.		59,423
				1,022,119
Healthcare - Services: 0.7%
1,620		Aetna, Inc.		80,028
780	@	Coventry Health Care, Inc.		44,967
790	@	Humana, Inc.		48,119
200	@	Laboratory Corp. of America Holdings		15,652
3,640		UnitedHealth Group, Inc.		186,150
1,650	@	WellPoint, Inc.		131,720
				506,636
Home Builders: 0.1%
700		Centex Corp.		28,070
700		KB Home		27,559
400		Lennar Corp.		14,624
				70,253
Home Furnishings: 0.1%
200		Harman International Industries, Inc.		23,360
150		Whirlpool Corp.		16,680
				40,040
Household Products/Wares: 0.2%
300		Clorox Co.		18,630
1,540		Kimberly-Clark Corp.		103,011
				121,641

Shares			Value
Housewares: 0.0%
700		Newell Rubbermaid, Inc.	$	20,601
				20,601
Insurance: 2.6%
1,050	@@	ACE Ltd.		65,646
1,720		Aflac, Inc.		88,408
2,130		Allstate Corp.		131,016
170		AMBAC Financial Group, Inc.		14,822
6,570		American International Group, Inc.		460,097
950		AON Corp.		40,480
400		Assurant, Inc.		23,568
1,780		Chubb Corp.		96,369
810		Cigna Corp.		42,298
2,000		Genworth Financial, Inc.		68,800
1,100		Hartford Financial Services Group, Inc.		108,361
814		Lincoln National Corp.		57,753
1,120		Loews Corp.		57,098
1,300		Marsh & McLennan Cos., Inc.		40,144
290		MBIA, Inc.		18,044
2,280		Metlife, Inc.		147,014
330		MGIC Investment Corp.		18,764
1,300		Principal Financial Group		75,777
3,220		Progressive Corp.		77,055
1,540		Prudential Financial, Inc.		149,734
550		Safeco Corp.		34,243
390		Torchmark Corp.		26,130
1,760		Travelers Cos., Inc.		94,160
700		UnumProvident Corp.		18,277
700	@@	XL Capital Ltd.		59,003
				2,013,061
Internet: 0.8%
1,000	@	Amazon.com, Inc.		68,410
2,960	@	eBay, Inc.		95,253
500	@	Google, Inc.		261,690
700	@	IAC/InterActiveCorp.		24,227
3,301	@	Symantec Corp.		66,680
800	@	VeriSign, Inc.		25,384
3,200	@	Yahoo!, Inc.		86,816
				628,460
Iron/Steel: 0.2%
300		Allegheny Technologies, Inc.		31,464
1,170		Nucor Corp.		68,621
360		United States Steel Corp.		39,150
				139,235
Leisure Time: 0.1%
1,280		Carnival Corp.		62,426
840		Harley-Davidson, Inc.		50,072
				112,498
Lodging: 0.2%
500		Harrah’s Entertainment, Inc.		42,630
500		Hilton Hotels Corp.		16,735
680		Marriott International, Inc.		29,403
430		Starwood Hotels & Resorts Worldwide, Inc.		28,840
				117,608

See Accompanying Notes to Financial Statements

59

ING GET U.S. CORE PORTFOLIO SERIES 2 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Machinery - Construction & Mining: 0.2%
1,800		Caterpillar, Inc.	$	140,940
300	@	Terex Corp.		24,390
				165,330
Machinery - Diversified: 0.2%
600		Cummins, Inc.		60,726
700		Deere & Co.		84,518
420		Rockwell Automation, Inc.		29,165
				174,409
Media: 1.4%
1,785		CBS Corp. - Class B		59,476
1,400		Clear Channel Communications, Inc.		52,948
5,700	@	Comcast Corp. - Class A		160,284
2,800	@	DIRECTV Group, Inc.		64,708
800		Gannett Co., Inc.		43,960
1,420		McGraw-Hill Cos., Inc.		96,674
6,350		News Corp., Inc. - Class A		134,684
7,500		Time Warner, Inc.		157,800
1,700	@	Viacom - Class B		70,771
6,030		Walt Disney Co.		205,864
				1,047,169
Metal Fabricate/Hardware: 0.0%
200		Precision Castparts Corp.		24,272
				24,272
Mining: 0.3%
2,300		Alcoa, Inc.		93,219
915		Freeport-McMoRan Copper & Gold, Inc.		75,780
900		Newmont Mining Corp.		35,154
				204,153
Miscellaneous Manufacturing: 2.5%
2,020		3M Co.		175,316
780		Cooper Industries Ltd.		44,530
890		Danaher Corp.		67,195
1,550		Eastman Kodak Co.		43,137
1,030		Eaton Corp.		95,790
24,520		General Electric Co.		938,620
1,960		Honeywell International, Inc.		110,309
1,700		Illinois Tool Works, Inc.		92,123
960		ITT Corp.		65,549
400		Pall Corp.		18,396
660		Parker Hannifin Corp.		64,621
200		Textron, Inc.		22,022
5,300	@	Tyco International Ltd.		179,087
				1,916,695
Office/Business Equipment: 0.1%
2,680	@	Xerox Corp.		49,526
				49,526
Oil & Gas: 4.1%
1,640		Anadarko Petroleum Corp.		85,264
600		Apache Corp.		48,954
1,100		Chesapeake Energy Corp.		38,060
6,113		Chevron Corp.		514,959
4,466		ConocoPhillips		350,581
1,150		Devon Energy Corp.		90,034
800		ENSCO International, Inc.		48,808
280		EOG Resources, Inc.		20,457

Shares			Value
14,920		ExxonMobil Corp.	$	1,251,490
600		Hess Corp.		35,376
2,320		Marathon Oil Corp.		139,107
300		Murphy Oil Corp.		17,832
800	@, @@	Nabors Industries Ltd.		26,704
400		Noble Corp.		39,008
2,380		Occidental Petroleum Corp.		137,754
500		Sunoco, Inc.		39,840
1,000	@	Transocean, Inc.		105,980
1,700		Valero Energy Corp.		125,562
800		XTO Energy, Inc.		48,080
				3,163,850
Oil & Gas Services: 0.6%
800		Baker Hughes, Inc.		67,304
3,000		Halliburton Co.		103,500
600	@	National Oilwell Varco, Inc.		62,544
2,800		Schlumberger Ltd.		237,832
500	@	Weatherford International Ltd.		27,620
				498,800
Packaging & Containers: 0.2%
320		Ball Corp.		17,014
1,000		Bemis Co.		33,180
1,200	@	Pactiv Corp.		38,268
900		Sealed Air Corp.		27,918
				116,380
Pharmaceuticals: 2.5%
3,000		Abbott Laboratories		160,650
900		AmerisourceBergen Corp.		44,523
400	@	Barr Pharmaceuticals, Inc.		20,092
5,000		Bristol-Myers Squibb Co.		157,800
1,080		Cardinal Health, Inc.		76,291
2,100		Eli Lilly & Co.		117,348
620	@	Express Scripts, Inc.		31,006
1,210	@	Forest Laboratories, Inc.		55,237
2,600	@	Gilead Sciences, Inc.		100,802
1,000	@	King Pharmaceuticals, Inc.		20,460
800	@	Medco Health Solutions, Inc.		62,392
5,580		Merck & Co., Inc.		277,884
1,200		Mylan Laboratories		21,828
18,340		Pfizer, Inc.		468,954
4,300		Schering-Plough Corp.		130,892
600	@	Watson Pharmaceuticals, Inc.		19,518
3,180		Wyeth		182,341
				1,948,018
Pipelines: 0.2%
1,900		El Paso Corp.		32,737
600		Questar Corp.		31,710
2,000		Spectra Energy Corp.		51,920
1,800		Williams Cos., Inc.		56,916
				173,283
Real Estate Investment Trusts: 0.4%
300		Apartment Investment & Management Co.		15,126
540		Archstone-Smith Trust		31,919
400		Boston Properties, Inc.		40,852
330		Developers Diversified Realty Corp.		17,394
400		Equity Residential		18,252
1,000		Host Hotels & Resorts, Inc.		23,120

See Accompanying Notes to Financial Statements

60

ING GET U.S. CORE PORTFOLIO SERIES 2 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Real Estate Investment Trusts (continued)
500		Kimco Realty Corp.	$	19,035
700		Prologis		39,830
400		Simon Property Group, Inc.		37,216
300		Vornado Realty Trust		32,952
				275,696
Retail: 2.6%
350	@	Autozone, Inc.		47,817
400	@	Bed Bath & Beyond, Inc.		14,396
1,585		Best Buy Co., Inc.		73,972
600	@	Big Lots, Inc.		17,652
1,330		Costco Wholesale Corp.		77,832
3,453		CVS Corp.		125,862
610		Darden Restaurants, Inc.		26,834
800		Dollar General Corp.		17,536
1,000		Family Dollar Stores, Inc.		34,320
2,030		Gap, Inc.		38,773
4,410		Home Depot, Inc.		173,534
900		JC Penney Co., Inc.		65,142
900	@	Kohl’s Corp.		63,927
3,960		Lowe’s Cos., Inc.		121,532
1,704		Macy’s, Inc.		67,785
3,550		McDonald’s Corp.		180,198
760		Nordstrom, Inc.		38,851
630	@	Office Depot, Inc.		19,089
800		RadioShack Corp.		26,512
230	@	Sears Holding Corp.		38,985
1,750		Staples, Inc.		41,528
2,110	@	Starbucks Corp.		55,366
2,100		Target Corp.		133,560
1,590		TJX Cos., Inc.		43,725
2,510		Walgreen Co.		109,285
5,840		Wal-Mart Stores, Inc.		280,962
700		Wendy’s International, Inc.		25,725
1,560		Yum! Brands, Inc.		51,043
				2,011,743
Savings & Loans: 0.2%
1,400		Hudson City Bancorp., Inc.		17,108
900		Sovereign Bancorp., Inc.		19,026
2,786		Washington Mutual, Inc.		118,795
				154,929
Semiconductors: 1.2%
1,300	@	Advanced Micro Devices, Inc.		18,590
1,260		Altera Corp.		27,884
850		Analog Devices, Inc.		31,994
2,460		Applied Materials, Inc.		48,880
1,000	@	Broadcom Corp.		29,250
14,910		Intel Corp.		354,262
900		KLA-Tencor Corp.		49,455
1,000		Linear Technology Corp.		36,180
1,800	@	LSI Logic Corp.		13,518
770		Maxim Integrated Products		25,726
700	@	MEMC Electronic Materials, Inc.		42,784
1,800	@	Micron Technology, Inc.		22,554
740		National Semiconductor Corp.		20,920
750	@	Novellus Systems, Inc.		21,278
800	@	Nvidia Corp.		33,048
1,100	@	Teradyne, Inc.		19,338
3,300		Texas Instruments, Inc.		124,179
800		Xilinx, Inc.		21,416
				941,256

Shares			Value
Software: 1.8%
1,360	@	Adobe Systems, Inc.	$	54,604
840	@	Autodesk, Inc.		39,547
1,830		Automatic Data Processing, Inc.		88,700
850	@	BMC Software, Inc.		25,755
2,240		CA, Inc.		57,859
800	@	Citrix Systems, Inc.		26,936
2,190	@	Compuware Corp.		25,973
790	@	Electronic Arts, Inc.		37,383
2,238		First Data Corp.		73,115
550	@	Fiserv, Inc.		31,240
1,640	@	Intuit, Inc.		49,331
20,660		Microsoft Corp.		608,850
2,400	@	Novell, Inc.		18,696
9,680	@	Oracle Corp.		190,793
1,050		Paychex, Inc.		41,076
				1,369,858
Telecommunications: 2.9%
600	@@	Allergan, Inc.		34,584
900		Alltel Corp.		60,795
15,311		AT&T, Inc.		635,407
1,380	@	Avaya, Inc.		23,239
860		CenturyTel, Inc.		42,183
16,060	@	Cisco Systems, Inc.		447,271
1,900		Citizens Communications Co.		29,013
4,240	@	Corning, Inc.		108,332
652		Embarq Corp.		41,317
1,300	@	Juniper Networks, Inc.		32,721
5,900		Motorola, Inc.		104,430
4,280		Qualcomm, Inc.		185,709
4,300	@	Qwest Communications International, Inc.		41,710
7,054		Sprint Nextel Corp.		146,088
1,800	@	Tellabs, Inc.		19,368
6,550		Verizon Communications, Inc.		269,664
				2,221,831
Toys/Games/Hobbies: 0.1%
800		Hasbro, Inc.		25,128
1,800		Mattel, Inc.		45,522
				70,650
Transportation: 0.7%
700		Burlington Northern Santa Fe Corp.		59,598
400		CH Robinson Worldwide, Inc.		21,008
1,220		CSX Corp.		54,998
950		FedEx Corp.		105,422
1,150		Norfolk Southern Corp.		60,456
800		Union Pacific Corp.		92,120
2,000		United Parcel Service, Inc.		146,000
				539,602
		Total Common Stock (Cost $ 32,912,164 )		35,476,989

See Accompanying Notes to Financial Statements

61

ING GET U.S. CORE PORTFOLIO SERIES 2 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 46.4%
	Federal Home Loan Mortgage Corporation: 14.0%
$	11,700,000	^^	5.190%, due 03/15/09	$	10,733,720
					10,733,720
	Federal National Mortgage Corporation: 32.4%
	26,900,000	^^	5.310%, due 12/15/08		24,941,250
					24,941,250
			Total U.S. Government Agency Obligations (Cost $36,591,637)		35,674,970
	U.S. TREASURY OBLIGATIONS: 6.8%
	U.S. Treasury STRIP: 6.8%
	5,618,000	^	4.940%, due 11/15/08		5,256,937
					5,256,937
			Total U.S. Treasury Obligations (Cost $5,265,730)		5,256,937
			Total Long-Term Investments (Cost $74,769,531)		76,408,896
Shares
	SHORT-TERM INVESTMENTS: 1.0%
	Mutual Fund: 0.5%
	400,000	**	ING Institutional Prime Money Market Fund		400,000
			Total Mutual Fund (Cost $400,000)		400,000

Principal Amount
	Repurchase Agreement: 0.5%
$	370,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $370,163 to be received upon repurchase (Collateralized by $795,000 Resolution Funding Corporation, Discount Note, Market Value $378,905, due 01/15/21)				370,000
		Total Repurchase Agreement (Cost $370,000)				370,000
		Total Short-Term Investments (Cost $770,000)				770,000
		Total Investments in Securities (Cost $75,539,531)*	100.4	%	$	77,178,896
		Other Assets and Liabilities - Net	(0.4	)		(318,790	)
		Net Assets	100.0	%	$	76,860,106

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

^^ Principal Only (PO) Security

* Cost for federal income tax purposes is $75,889,892.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	2,777,642
Gross Unrealized Depreciation		(1,488,638	)
Net Unrealized Appreciation	$	1,289,004

See Accompanying Notes to Financial Statements

62

ING GET U.S. CORE PORTFOLIO SERIES 3 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 45.0%
Advertising: 0.1%
2,020		Omnicom Group	$	106,898
				106,898
Aerospace/Defense: 1.1%
2,580		Boeing Co.		248,093
1,800		General Dynamics Corp.		140,796
400		Goodrich Corp.		23,824
550		L-3 Communications Holdings, Inc.		53,565
1,750		Lockheed Martin Corp.		164,728
1,020		Northrop Grumman Corp.		79,427
2,713		Raytheon Co.		146,204
4,060		United Technologies Corp.		287,976
				1,144,613
Agriculture: 0.7%
7,630		Altria Group, Inc.		535,168
2,030		Archer-Daniels-Midland Co.		67,173
1,040		Reynolds American, Inc.		67,808
1,100		UST, Inc.		59,081
				729,230
Apparel: 0.2%
1,820	@	Coach, Inc.		86,250
1,520		Nike, Inc.		88,601
300		Polo Ralph Lauren Corp.		29,433
				204,284

Shares			Value
Auto Manufacturers: 0.2%
9,500		Ford Motor Co.	$	89,490
1,900		General Motors Corp.		71,820
1,150		Paccar, Inc.		100,096
				261,406
Auto Parts & Equipment: 0.1%
800	@	Goodyear Tire & Rubber Co.		27,808
580		Johnson Controls, Inc.		67,147
				94,955
Banks: 2.8%
16,824		Bank of America Corp.		822,525
2,560	@	Bank of New York Co., Inc.		106,086
1,843		BB&T Corp.		74,973
1,331		Capital One Financial Corp.		104,404
1,010		Comerica, Inc.		60,065
500		Compass Bancshares, Inc.		34,490
1,000		Fifth Third Bancorp.		39,770
3,760		Huntington Bancshares, Inc.		85,502
3,150		Keycorp.		108,140
1,000		Marshall & Ilsley Corp.		47,630
1,970		Mellon Financial Corp.		86,680
2,530		National City Corp.		84,300
400		Northern Trust Corp.		25,696
850		PNC Financial Services Group, Inc.		60,843
4,240		Regions Financial Corp.		140,344
1,150		State Street Corp.		78,660
930		SunTrust Banks, Inc.		79,738
4,160		US Bancorp.		137,072
7,429		Wachovia Corp.		380,736
13,280		Wells Fargo & Co.		467,058
				3,024,712
Beverages: 0.9%
2,330		Anheuser-Busch Cos., Inc.		121,533
7,170		Coca-Cola Co.		375,063
1,580		Pepsi Bottling Group, Inc.		53,214
6,170		PepsiCo, Inc.		400,125
				949,935
Biotechnology: 0.4%
4,000	@	Amgen, Inc.		221,160
1,100	@	Biogen Idec, Inc.		58,850
1,160	@	Celgene Corp.		66,503
1,150	@	Genzyme Corp.		74,060
				420,573
Building Materials: 0.1%
500		American Standard Cos., Inc.		29,490
2,620		Masco Corp.		74,591
				104,081
Chemicals: 0.8%
350		Air Products & Chemicals, Inc.		28,130
800		Ashland, Inc.		51,160
3,180		Dow Chemical Co.		140,620
700		Ecolab, Inc.		29,890
2,600		EI DuPont de Nemours & Co.		132,184
1,030		International Flavors & Fragrances, Inc.		53,704
2,120		Monsanto Co.		143,185
1,070		PPG Industries, Inc.		81,438
600		Praxair, Inc.		43,194

See Accompanying Notes to Financial Statements

63

ING GET U.S. CORE PORTFOLIO SERIES 3 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Chemicals (continued)
600		Sherwin-Williams Co.	$	39,882
1,500		Sigma-Aldrich Corp.		64,005
				807,392
Coal: 0.1%
700		Consol Energy, Inc.		32,277
940		Peabody Energy Corp.		45,477
				77,754
Commercial Services: 0.3%
700	@	Apollo Group, Inc.		40,901
1,100	@	Convergys Corp.		26,664
740		Equifax, Inc.		32,871
1,300		McKesson Corp.		77,532
800		Moody’s Corp.		49,760
890		Robert Half International, Inc.		32,485
1,000		RR Donnelley & Sons Co.		43,510
2,440		Western Union Co.		50,825
				354,548
Computers: 2.0%
400	@	Affiliated Computer Services, Inc.		22,688
3,200	@	Apple, Inc.		390,528
300	@	Cognizant Technology Solutions Corp.		22,527
850	@	Computer Sciences Corp.		50,278
9,150	@	Dell, Inc.		261,233
2,400		Electronic Data Systems Corp.		66,552
9,390	@	EMC Corp.		169,959
9,880		Hewlett-Packard Co.		440,846
5,270		International Business Machines Corp.		554,668
620	@	Lexmark International, Inc.		30,572
500	@	NCR Corp.		26,270
1,710	@	Network Appliance, Inc.		49,932
900	@	Sandisk Corp.		44,046
12,200	@	Sun Microsystems, Inc.		64,172
				2,194,271
Cosmetics/Personal Care: 0.9%
1,200		Avon Products, Inc.		44,100
1,730		Colgate-Palmolive Co.		112,191
600		Estee Lauder Cos., Inc.		27,306
12,172		Procter & Gamble Co.		744,805
				928,402
Distribution/Wholesale: 0.0%
500		WW Grainger, Inc.		46,525
				46,525
Diversified Financial Services: 3.7%
4,490		American Express Co.		274,698
1,078		Ameriprise Financial, Inc.		68,528
450		Bear Stearns Cos., Inc.		63,000
3,450		Charles Schwab Corp.		70,794
130		Chicago Mercantile Exchange Holdings, Inc.		69,467
850		CIT Group, Inc.		46,606
17,540		Citigroup, Inc.		899,627
2,130		Countrywide Financial Corp.		77,426
1,200	@	E*Trade Financial Corp.		26,508
3,190		Fannie Mae		208,403
570		Franklin Resources, Inc.		75,508
2,400		Freddie Mac		145,680

Shares			Value
1,660		Goldman Sachs Group, Inc.	$	359,805
1,100		Janus Capital Group, Inc.		30,624
13,700		JP Morgan Chase & Co.		663,765
300		Legg Mason, Inc.		29,514
2,060		Lehman Brothers Holdings, Inc.		153,511
3,480		Merrill Lynch & Co., Inc.		290,858
4,140		Morgan Stanley		347,263
1,450		SLM Corp.		83,491
500		T. Rowe Price Group, Inc.		25,945
				4,011,021
Electric: 1.5%
1,430	@	AES Corp.		31,288
1,030		American Electric Power Co., Inc.		46,391
1,400		CMS Energy Corp.		24,080
930		Constellation Energy Group, Inc.		81,068
1,500		Dominion Resources, Inc.		129,465
1,800		DTE Energy Co.		86,796
1,400		Duke Energy Corp.		25,620
2,490		Edison International		139,739
1,700		Entergy Corp.		182,495
2,500		Exelon Corp.		181,500
1,920		FirstEnergy Corp.		124,282
2,500		FPL Group, Inc.		141,850
2,220		PG&E Corp.		100,566
600		PPL Corp.		28,074
1,300		Public Service Enterprise Group, Inc.		114,114
1,400		TECO Energy, Inc.		24,052
1,660		TXU Corp.		111,718
				1,573,098
Electrical Components & Equipment: 0.1%
2,220		Emerson Electric Co.		103,896
				103,896
Electronics: 0.2%
1,270	@	Agilent Technologies, Inc.		48,819
1,100		Tektronix, Inc.		37,114
1,760	@	Thermo Electron Corp.		91,027
400	@	Waters Corp.		23,744
				200,704
Engineering & Construction: 0.0%
200		Fluor Corp.		22,274
				22,274
Entertainment: 0.0%
950		International Game Technology		37,715
				37,715
Environmental Control: 0.1%
1,800	@	Allied Waste Industries, Inc.		24,228
2,600		Waste Management, Inc.		101,530
				125,758
Food: 0.7%
1,000		Campbell Soup Co.		38,810
700	@	Dean Foods Co.		22,309
2,500		General Mills, Inc.		146,050
500		Hershey Co.		25,310
2,870		HJ Heinz Co.		136,239
900		Kellogg Co.		46,611
3,841		Kraft Foods, Inc.		135,395
2,700		Kroger Co.		75,951
1,750		Safeway, Inc.		59,553

See Accompanying Notes to Financial Statements

64

ING GET U.S. CORE PORTFOLIO SERIES 3 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Food (continued)
500		Supervalu, Inc.	$	23,160
700		Sysco Corp.		23,093
500		Whole Foods Market, Inc.		19,150
400		WM Wrigley Jr. Co.		22,124
				773,755
Forest Products & Paper: 0.1%
1,700		International Paper Co.		66,385
800		Temple-Inland, Inc.		49,224
300		Weyerhaeuser Co.		23,679
				139,288
Gas: 0.1%
600		KeySpan Corp.		25,188
1,180		Sempra Energy		69,891
				95,079
Hand/Machine Tools: 0.1%
400		Black & Decker Corp.		35,324
690		Snap-On, Inc.		34,852
670		Stanley Works		40,669
				110,845
Healthcare - Products: 1.3%
2,590		Baxter International, Inc.		145,921
970		Becton Dickinson & Co.		72,265
900		Biomet, Inc.		41,148
4,100	@	Boston Scientific Corp.		62,894
500		CR Bard, Inc.		41,315
11,310		Johnson & Johnson		696,922
3,700		Medtronic, Inc.		191,882
900	@	St. Jude Medical, Inc.		37,341
900		Stryker Corp.		56,781
500	@	Varian Medical Systems, Inc.		21,255
800	@	Zimmer Holdings, Inc.		67,912
				1,435,636
Healthcare - Services: 0.6%
1,880		Aetna, Inc.		92,872
890	@	Coventry Health Care, Inc.		51,309
900	@	Humana, Inc.		54,819
400	@	Laboratory Corp. of America Holdings		31,304
5,150		UnitedHealth Group, Inc.		263,371
2,300	@	WellPoint, Inc.		183,609
				677,284
Home Builders: 0.1%
800		Centex Corp.		32,080
800		KB Home		31,496
500		Lennar Corp.		18,280
				81,856
Home Furnishings: 0.0%
200		Harman International Industries, Inc.		23,360
200		Whirlpool Corp.		22,240
				45,600
Household Products/Wares: 0.2%
400		Clorox Co.		24,840
2,150		Kimberly-Clark Corp.		143,814
				168,654

Shares			Value
Housewares: 0.0%
1,000		Newell Rubbermaid, Inc.	$	29,430
				29,430
Insurance: 2.5%
1,510	@@	ACE Ltd.		94,405
2,020		Aflac, Inc.		103,828
3,000		Allstate Corp.		184,530
340		AMBAC Financial Group, Inc.		29,645
9,690		American International Group, Inc.		678,591
1,200		AON Corp.		51,132
600		Assurant, Inc.		35,352
2,240		Chubb Corp.		121,274
1,080		Cigna Corp.		56,398
2,400		Genworth Financial, Inc.		82,560
1,600		Hartford Financial Services Group, Inc.		157,616
1,020		Lincoln National Corp.		72,369
1,370		Loews Corp.		69,843
1,800		Marsh & McLennan Cos., Inc.		55,584
380		MBIA, Inc.		23,644
3,090		Metlife, Inc.		199,243
380		MGIC Investment Corp.		21,607
1,590		Principal Financial Group		92,681
3,940		Progressive Corp.		94,284
2,040		Prudential Financial, Inc.		198,349
460		Safeco Corp.		28,640
380		Torchmark Corp.		25,460
2,580		Travelers Cos., Inc.		138,030
1,000		UnumProvident Corp.		26,110
900	@@	XL Capital Ltd.		75,861
				2,717,036
Internet: 0.8%
1,200	@	Amazon.com, Inc.		82,092
4,150	@	eBay, Inc.		133,547
800	@	Google, Inc.		418,704
1,000	@	IAC/InterActiveCorp.		34,610
4,017	@	Symantec Corp.		81,143
1,100	@	VeriSign, Inc.		34,903
4,400	@	Yahoo!, Inc.		119,372
				904,371
Iron/Steel: 0.2%
300		Allegheny Technologies, Inc.		31,464
1,440		Nucor Corp.		84,456
570		United States Steel Corp.		61,988
				177,908
Leisure Time: 0.1%
1,500		Carnival Corp.		73,155
1,250		Harley-Davidson, Inc.		74,513
				147,668
Lodging: 0.1%
700		Harrah’s Entertainment, Inc.		59,682
700		Hilton Hotels Corp.		23,429
800		Marriott International, Inc.		34,592
570		Starwood Hotels & Resorts Worldwide, Inc.		38,230
				155,933

See Accompanying Notes to Financial Statements

65

ING GET U.S. CORE PORTFOLIO SERIES 3 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Machinery - Construction & Mining: 0.2%
2,600		Caterpillar, Inc.	$	203,580
400	@	Terex Corp.		32,520
				236,100
Machinery - Diversified: 0.2%
700		Cummins, Inc.		70,847
1,000		Deere & Co.		120,740
530		Rockwell Automation, Inc.		36,803
				228,390
Media: 1.3%
2,730		CBS Corp. - Class B		90,964
1,800		Clear Channel Communications, Inc.		68,076
8,850	@	Comcast Corp. – Class A		248,862
2,900	@	DIRECTV Group, Inc.		67,019
1,100		Gannett Co., Inc.		60,445
1,900		McGraw-Hill Cos., Inc.		129,352
9,050		News Corp., Inc. - Class A		191,951
10,100		Time Warner, Inc.		212,504
2,100	@	Viacom - Class B		87,423
7,540		Walt Disney Co.		257,416
				1,414,012
Metal Fabricate/Hardware: 0.0%
300		Precision Castparts Corp.		36,408
				36,408
Mining: 0.3%
3,100		Alcoa, Inc.		125,643
1,365		Freeport-McMoRan Copper & Gold, Inc.		113,049
1,200		Newmont Mining Corp.		46,872
				285,564
Miscellaneous Manufacturing: 2.4%
2,870		3M Co.		249,087
980		Cooper Industries Ltd.		55,948
1,020		Danaher Corp.		77,010
1,800		Eastman Kodak Co.		50,094
1,330		Eaton Corp.		123,690
35,570		General Electric Co.		1,361,603
2,730		Honeywell International, Inc.		153,644
1,800		Illinois Tool Works, Inc.		97,542
1,060		ITT Corp.		72,377
500		Pall Corp.		22,995
860		Parker Hannifin Corp.		84,203
200		Textron, Inc.		22,022
7,300	@	Tyco International Ltd.		246,667
				2,616,882
Office/Business Equipment: 0.1%
3,420	@	Xerox Corp.		63,202
				63,202
Oil & Gas: 4.1%
1,960		Anadarko Petroleum Corp.		101,900
700		Apache Corp.		57,113
1,200		Chesapeake Energy Corp.		41,520
8,917		Chevron Corp.		751,168
6,477		ConocoPhillips		508,445
1,760		Devon Energy Corp.		137,790
1,000		ENSCO International, Inc.		61,010
420		EOG Resources, Inc.		30,685

Shares			Value
21,400		ExxonMobil Corp.	$	1,795,032
600		Hess Corp.		35,376
3,420		Marathon Oil Corp.		205,063
400		Murphy Oil Corp.		23,776
1,100	@, @@	Nabors Industries Ltd.		36,718
400		Noble Corp.		39,008
3,420		Occidental Petroleum Corp.		197,950
700		Sunoco, Inc.		55,776
1,200	@	Transocean, Inc.		127,176
2,200		Valero Energy Corp.		162,492
1,000		XTO Energy, Inc.		60,100
				4,428,098
Oil & Gas Services: 0.7%
1,000		Baker Hughes, Inc.		84,130
4,200		Halliburton Co.		144,900
800	@	National Oilwell Varco, Inc.		83,392
4,200		Schlumberger Ltd.		356,748
700	@	Weatherford International Ltd.		38,668
				707,838
Packaging & Containers: 0.1%
440		Ball Corp.		23,395
700		Bemis Co.		23,226
1,800	@	Pactiv Corp.		57,402
1,300		Sealed Air Corp.		40,326
				144,349
Pharmaceuticals: 2.5%
4,700		Abbott Laboratories		251,685
1,100		AmerisourceBergen Corp.		54,417
400	@	Barr Pharmaceuticals, Inc.		20,092
7,000		Bristol-Myers Squibb Co.		220,920
1,340		Cardinal Health, Inc.		94,658
3,000		Eli Lilly & Co.		167,640
820	@	Express Scripts, Inc.		41,008
1,500	@	Forest Laboratories, Inc.		68,475
3,400	@	Gilead Sciences, Inc.		131,818
1,310	@	King Pharmaceuticals, Inc.		26,803
1,000	@	Medco Health Solutions, Inc.		77,990
8,040		Merck & Co., Inc.		400,392
1,500		Mylan Laboratories		27,285
25,780		Pfizer, Inc.		659,195
6,050		Schering-Plough Corp.		184,162
800	@	Watson Pharmaceuticals, Inc.		26,024
4,780		Wyeth		274,085
				2,726,649
Pipelines: 0.2%
2,300		El Paso Corp.		39,629
800		Questar Corp.		42,280
2,100		Spectra Energy Corp.		54,516
1,870		Williams Cos., Inc.		59,129
				195,554
Real Estate Investment Trusts: 0.4%
400		Apartment Investment & Management Co.		20,168
730		Archstone-Smith Trust		43,150
500		Boston Properties, Inc.		51,065
440		Developers Diversified Realty Corp.		23,192
500		Equity Residential		22,815
1,300		Host Hotels & Resorts, Inc.		30,056
700		Kimco Realty Corp.		26,649

See Accompanying Notes to Financial Statements

66

ING GET U.S. CORE PORTFOLIO SERIES 3 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Real Estate Investment Trusts (continued)
1,000		Prologis	$	56,900
600		Simon Property Group, Inc.		55,824
400		Vornado Realty Trust		43,936
				373,755
Retail: 2.5%
400	@	Autozone, Inc.		54,648
600	@	Bed Bath & Beyond, Inc.		21,594
1,825		Best Buy Co., Inc.		85,173
800	@	Big Lots, Inc.		23,536
1,880		Costco Wholesale Corp.		110,018
4,471		CVS Corp.		162,968
720		Darden Restaurants, Inc.		31,673
1,100		Dollar General Corp.		24,112
1,300		Family Dollar Stores, Inc.		44,616
2,420		Gap, Inc.		46,222
6,390		Home Depot, Inc.		251,447
1,000		JC Penney Co., Inc.		72,380
1,100	@	Kohl‘s Corp.		78,133
5,580		Lowe‘s Cos., Inc.		171,250
2,464		Macy‘s, Inc.		98,018
5,130		McDonald‘s Corp.		260,399
900		Nordstrom, Inc.		46,008
870	@	Office Depot, Inc.		26,361
1,100		RadioShack Corp.		36,454
290	@	Sears Holding Corp.		49,155
2,105		Staples, Inc.		49,952
2,480	@	Starbucks Corp.		65,075
3,260		Target Corp.		207,336
2,070		TJX Cos., Inc.		56,925
3,580		Walgreen Co.		155,873
8,370		Wal-Mart Stores, Inc.		402,681
900		Wendy‘s International, Inc.		33,075
1,860		Yum! Brands, Inc.		60,859
				2,725,941
Savings & Loans: 0.2%
2,000		Hudson City Bancorp., Inc.		24,440
1,100		Sovereign Bancorp., Inc.		23,254
3,923		Washington Mutual, Inc.		167,277
				214,971
Semiconductors: 1.2%
1,800	@	Advanced Micro Devices, Inc.		25,740
1,740		Altera Corp.		38,506
970		Analog Devices, Inc.		36,511
3,010		Applied Materials, Inc.		59,809
1,300	@	Broadcom Corp.		38,025
21,280		Intel Corp.		505,613
1,100		KLA-Tencor Corp.		60,445
1,200		Linear Technology Corp.		43,416
2,400	@	LSI Logic Corp.		18,024
1,040		Maxim Integrated Products		34,746
800	@	MEMC Electronic Materials, Inc.		48,896
2,450	@	Micron Technology, Inc.		30,699
1,050		National Semiconductor Corp.		29,684
1,050	@	Novellus Systems, Inc.		29,789
1,200	@	Nvidia Corp.		49,572
1,550	@	Teradyne, Inc.		27,249
4,700		Texas Instruments, Inc.		176,861
1,100		Xilinx, Inc.		29,447
				1,283,032

Shares			Value
Software: 1.7%
1,810	@	Adobe Systems, Inc.	$	72,672
1,050	@	Autodesk, Inc.		49,434
2,260		Automatic Data Processing, Inc.		109,542
1,170	@	BMC Software, Inc.		35,451
2,740		CA, Inc.		70,774
1,100	@	Citrix Systems, Inc.		37,037
3,050	@	Compuware Corp.		36,173
970	@	Electronic Arts, Inc.		45,900
2,740		First Data Corp.		89,516
1,010	@	Fiserv, Inc.		57,368
2,060	@	Intuit, Inc.		61,965
29,020		Microsoft Corp.		855,219
3,000	@	Novell, Inc.		23,370
13,430	@	Oracle Corp.		264,705
1,210		Paychex, Inc.		47,335
				1,856,461
Telecommunications: 2.9%
800	@@	Allergan, Inc.		46,112
1,200		Alltel Corp.		81,060
22,320		AT&T, Inc.		926,280
1,850	@	Avaya, Inc.		31,154
1,060		CenturyTel, Inc.		51,993
22,590	@	Cisco Systems, Inc.		629,132
2,600		Citizens Communications Co.		39,702
5,870	@	Corning, Inc.		149,979
681		Embarq Corp.		43,155
1,900	@	Juniper Networks, Inc.		47,823
8,780		Motorola, Inc.		155,406
5,940		Qualcomm, Inc.		257,737
5,400	@	Qwest Communications International, Inc.		52,380
9,535		Sprint Nextel Corp.		197,470
2,400	@	Tellabs, Inc.		25,824
9,150		Verizon Communications, Inc.		376,706
				3,111,913
Toys/Games/Hobbies: 0.1%
1,000		Hasbro, Inc.		31,410
2,150		Mattel, Inc.		54,374
				85,784
Transportation: 0.7%
970		Burlington Northern Santa Fe Corp.		82,586
500		CH Robinson Worldwide, Inc.		26,260
1,420		CSX Corp.		64,014
1,200		FedEx Corp.		133,164
1,470		Norfolk Southern Corp.		77,278
900		Union Pacific Corp.		103,635
3,200		United Parcel Service, Inc.		233,600
				720,537
		Total Common Stock (Cost $42,637,393)		48,639,828

See Accompanying Notes to Financial Statements

67

ING GET U.S. CORE PORTFOLIO SERIES 3 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 52.7%
	Federal Home Loan Mortgage Corporation: 33.9%
$	2,875,000	^	5.180%, due 03/15/09	$	2,637,560
	37,100,000	^^	5.190%, due 03/15/09		34,035,985
					36,673,545
	Federal National Mortgage Corporation: 18.8%
	2,091,000	^	5.180%, due 06/15/09		1,894,065
	20,400,000	^	5.280%, due 06/15/09		18,445,129
					20,339,194
			Total U.S. Government Agency Obligations (Cost $59,232,566)		57,012,739
	U.S. TREASURY OBLIGATIONS: 2.1%
	U.S. Treasury STRIP: 2.1%
	2,390,000	^^	5.010%, due 11/15/08		2,234,306
			Total U.S. Treasury Obligations (Cost $2,239,748 )		2,234,306
			Total Long-Term Investments (Cost $104,109,707)		107,886,873
Shares
	SHORT-TERM INVESTMENTS: 0.3%
	Mutual Fund: 0.1%
	100,000	**	ING Institutional Prime Money Market Fund		100,000
			Total Mutual Fund (Cost $100,000)		100,000

Principal Amount					Value
	Repurchase Agreement: 0.2%
$	268,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $268,118 to be received upon repurchase (Collateralized by $570,000 Resolution Funding Corporation, Discount Note, Market Value $275,390, due 10/15/20)			$	268,000
		Total Repurchase Agreement (Cost $268,000)				268,000
		Total Short-Term Investments (Cost $368,000)				368,000
		Total Investments in Securities (Cost $104,477,707)*	100.1	%	$	108,254,873
		Other Assets and Liabilities - Net	(0.1	)		(158,544	)
		Net Assets	100.0	%	$	108,096,329

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

^^ Principal Only (PO) Security

* Cost for federal income tax purposes is $104,957,202.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	6,238,269
Gross Unrealized Depreciation		(2,940,598	)
Net Unrealized Appreciation	$	3,297,671

See Accompanying Notes to Financial Statements

68

ING GET U.S. CORE PORTFOLIO SERIES 4 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 65.9%
Advertising: 0.2%
1,400		Omnicom Group	$	74,088
				74,088
Aerospace/Defense: 1.6%
1,850		Boeing Co.		177,896
1,250		General Dynamics Corp.		97,775
300		Goodrich Corp.		17,868
450		L-3 Communications Holdings, Inc.		43,826
1,160		Lockheed Martin Corp.		109,191
740		Northrop Grumman Corp.		57,624
1,859		Raytheon Co.		100,182
2,650		United Technologies Corp.		187,965
				792,327
Agriculture: 1.0%
5,200		Altria Group, Inc.		364,728
1,340		Archer-Daniels-Midland Co.		44,341
800		Reynolds American, Inc.		52,160
900		UST, Inc.		48,339
				509,568
Apparel: 0.3%
1,440	@	Coach, Inc.		68,242
1,040		Nike, Inc.		60,622
300		Polo Ralph Lauren Corp.		29,433
				158,297
Auto Manufacturers: 0.3%
5,700		Ford Motor Co.		53,694
1,100		General Motors Corp.		41,580
800		Paccar, Inc.		69,632
				164,906

Shares			Value
Auto Parts & Equipment: 0.1%
400	@	Goodyear Tire & Rubber Co.	$	13,904
400		Johnson Controls, Inc.		46,308
				60,212
Banks: 4.1%
11,303		Bank of America Corp.		552,604
2,000	@	Bank of New York Co., Inc.		82,880
1,435		BB&T Corp.		58,376
869		Capital One Financial Corp.		68,164
750		Comerica, Inc.		44,603
300		Compass Bancshares, Inc.		20,694
700		Fifth Third Bancorp.		27,839
2,850		Huntington Bancshares, Inc.		64,809
1,950		Keycorp.		66,944
500		Marshall & Ilsley Corp.		23,815
1,400		Mellon Financial Corp.		61,600
1,590		National City Corp.		52,979
300		Northern Trust Corp.		19,272
700		PNC Financial Services Group, Inc.		50,106
2,837		Regions Financial Corp.		93,905
850		State Street Corp.		58,140
550		SunTrust Banks, Inc.		47,157
2,550		US Bancorp.		84,023
5,076		Wachovia Corp.		260,145
8,900		Wells Fargo & Co.		313,013
				2,051,068
Beverages: 1.3%
1,550		Anheuser-Busch Cos., Inc.		80,848
4,800		Coca-Cola Co.		251,088
1,100		Pepsi Bottling Group, Inc.		37,048
4,190		PepsiCo, Inc.		271,722
				640,706
Biotechnology: 0.6%
2,700	@	Amgen, Inc.		149,283
700	@	Biogen Idec, Inc.		37,450
850	@	Celgene Corp.		48,731
700	@	Genzyme Corp.		45,080
				280,544
Building Materials: 0.1%
300		American Standard Cos., Inc.		17,694
1,750		Masco Corp.		49,823
				67,517
Chemicals: 1.1%
250		Air Products & Chemicals, Inc.		20,093
400		Ashland, Inc.		25,580
2,250		Dow Chemical Co.		99,495
400		Ecolab, Inc.		17,080
1,500		EI DuPont de Nemours & Co.		76,260
800		International Flavors & Fragrances, Inc.		41,712
1,440		Monsanto Co.		97,258
810		PPG Industries, Inc.		61,649
400		Praxair, Inc.		28,796
450		Sherwin-Williams Co.		29,912
1,200		Sigma-Aldrich Corp.		51,204
				549,039
Coal: 0.1%
400		Consol Energy, Inc.		18,444
580		Peabody Energy Corp.		28,060
				46,504

See Accompanying Notes to Financial Statements

69

ING GET U.S. CORE PORTFOLIO SERIES 4 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Commercial Services: 0.5%
400	@	Apollo Group, Inc.	$	23,372
1,000	@	Convergys Corp.		24,240
410		Equifax, Inc.		18,212
750		McKesson Corp.		44,730
600		Moody’s Corp.		37,320
400		Robert Half International, Inc.		14,600
700		RR Donnelley & Sons Co.		30,457
1,500		Western Union Co.		31,245
				224,176
Computers: 2.9%
200	@	Affiliated Computer Services, Inc.		11,344
2,100	@	Apple, Inc.		256,284
210	@	Cognizant Technology Solutions Corp.		15,769
500	@	Computer Sciences Corp.		29,575
6,100	@	Dell, Inc.		174,155
1,550		Electronic Data Systems Corp.		42,982
6,200	@	EMC Corp.		112,220
6,650		Hewlett-Packard Co.		296,723
3,550		International Business Machines Corp.		373,638
400	@	Lexmark International, Inc.		19,724
400	@	NCR Corp.		21,016
1,150	@	Network Appliance, Inc.		33,580
500	@	Sandisk Corp.		24,470
8,000	@	Sun Microsystems, Inc.		42,080
				1,453,560
Cosmetics/Personal Care: 1.3%
700		Avon Products, Inc.		25,725
1,150		Colgate-Palmolive Co.		74,578
400		Estee Lauder Cos., Inc.		18,204
8,237		Procter & Gamble Co.		504,022
				622,529
Distribution/Wholesale: 0.1%
350		WW Grainger, Inc.		32,568
				32,568
Diversified Financial Services: 5.5%
3,000		American Express Co.		183,540
880		Ameriprise Financial, Inc.		55,942
280		Bear Stearns Cos., Inc.		39,200
2,700		Charles Schwab Corp.		55,404
80		Chicago Mercantile Exchange Holdings, Inc.		42,749
700		CIT Group, Inc.		38,381
11,900		Citigroup, Inc.		610,351
1,400		Countrywide Financial Corp.		50,890
700	@	E*Trade Financial Corp.		15,463
2,250		Fannie Mae		146,993
400		Franklin Resources, Inc.		52,988
1,500		Freddie Mac		91,050
1,050		Goldman Sachs Group, Inc.		227,588
700		Janus Capital Group, Inc.		19,488
9,000		JP Morgan Chase & Co.		436,050
200		Legg Mason, Inc.		19,676
1,480		Lehman Brothers Holdings, Inc.		110,290
2,350		Merrill Lynch & Co., Inc.		196,413
2,800		Morgan Stanley		234,864
1,050		SLM Corp.		60,459
300		T. Rowe Price Group, Inc.		15,567
				2,703,346

Shares			Value
Electric: 2.2%
1,500	@	AES Corp.	$	32,820
650		American Electric Power Co., Inc.		29,276
900		CMS Energy Corp.		15,480
600		Constellation Energy Group, Inc.		52,302
1,000		Dominion Resources, Inc.		86,310
1,300		DTE Energy Co.		62,686
1,200		Duke Energy Corp.		21,960
1,600		Edison International		89,792
1,200		Entergy Corp.		128,820
1,700		Exelon Corp.		123,420
1,250		FirstEnergy Corp.		80,913
1,700		FPL Group, Inc.		96,458
1,450		PG&E Corp.		65,685
400		PPL Corp.		18,716
900		Public Service Enterprise Group, Inc.		79,002
1,000		TECO Energy, Inc.		17,180
1,080		TXU Corp.		72,684
				1,073,504
Electrical Components & Equipment: 0.1%
1,500		Emerson Electric Co.		70,200
				70,200
Electronics: 0.3%
800	@	Agilent Technologies, Inc.		30,752
700		Tektronix, Inc.		23,618
1,300	@	Thermo Electron Corp.		67,236
350	@	Waters Corp.		20,776
				142,382
Engineering & Construction: 0.0%
200		Fluor Corp.		22,274
				22,274
Entertainment: 0.0%
600		International Game Technology		23,820
				23,820
Environmental Control: 0.2%
1,200	@	Allied Waste Industries, Inc.		16,152
2,000		Waste Management, Inc.		78,100
				94,252
Food: 1.1%
800		Campbell Soup Co.		31,048
400	@	Dean Foods Co.		12,748
1,500		General Mills, Inc.		87,630
300		Hershey Co.		15,186
1,900		HJ Heinz Co.		90,193
600		Kellogg Co.		31,074
2,721		Kraft Foods, Inc.		95,915
2,100		Kroger Co.		59,073
1,200		Safeway, Inc.		40,836
400		Supervalu, Inc.		18,528
600		Sysco Corp.		19,794
300		Whole Foods Market, Inc.		11,490
300		WM Wrigley Jr. Co.		16,593
				530,108
Forest Products & Paper: 0.2%
1,300		International Paper Co.		50,765
300		Temple-Inland, Inc.		18,459
400		Weyerhaeuser Co.		31,572
				100,796

See Accompanying Notes to Financial Statements

70

ING GET U.S. CORE PORTFOLIO SERIES 4 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Gas: 0.1%
400		KeySpan Corp.	$	16,792
750		Sempra Energy		44,423
				61,215
Hand/Machine Tools: 0.1%
260		Black & Decker Corp.		22,961
400		Snap-On, Inc.		20,204
400		Stanley Works		24,280
				67,445
Healthcare - Products: 2.0%
1,750		Baxter International, Inc.		98,595
690		Becton Dickinson & Co.		51,405
500		Biomet, Inc.		22,860
2,500	@	Boston Scientific Corp.		38,350
300		CR Bard, Inc.		24,789
7,600		Johnson & Johnson		468,312
2,600		Medtronic, Inc.		134,836
600	@	St. Jude Medical, Inc.		24,894
700		Stryker Corp.		44,163
300	@	Varian Medical Systems, Inc.		12,753
600	@	Zimmer Holdings, Inc.		50,934
				971,891
Healthcare - Services: 0.8%
1,290		Aetna, Inc.		63,726
480	@	Coventry Health Care, Inc.		27,672
450	@	Humana, Inc.		27,410
200	@	Laboratory Corp. of America Holdings		15,652
3,390		UnitedHealth Group, Inc.		173,365
1,390	@	WellPoint, Inc.		110,964
				418,789
Home Builders: 0.1%
500		Centex Corp.		20,050
700		KB Home		27,559
300		Lennar Corp.		10,968
				58,577
Home Furnishings: 0.1%
200		Harman International Industries, Inc.		23,360
200		Whirlpool Corp.		22,240
				45,600
Household Products/Wares: 0.2%
200		Clorox Co.		12,420
1,500		Kimberly-Clark Corp.		100,335
				112,755
Housewares: 0.0%
700		Newell Rubbermaid, Inc.		20,601
				20,601
Insurance: 3.7%
1,180	@@	ACE Ltd.		73,774
1,350		Aflac, Inc.		69,390
1,790		Allstate Corp.		110,103
200		AMBAC Financial Group, Inc.		17,438
6,450		American International Group, Inc.		451,694
1,000		AON Corp.		42,610
400		Assurant, Inc.		23,568
1,460		Chubb Corp.		79,044
660		Cigna Corp.		34,465
1,700		Genworth Financial, Inc.		58,480

Shares			Value
1,000		Hartford Financial Services Group, Inc.	$	98,510
664		Lincoln National Corp.		47,111
900		Loews Corp.		45,882
1,100		Marsh & McLennan Cos., Inc.		33,968
250		MBIA, Inc.		15,555
2,180		Metlife, Inc.		140,566
200		MGIC Investment Corp.		11,372
1,050		Principal Financial Group		61,205
2,680		Progressive Corp.		64,132
1,360		Prudential Financial, Inc.		132,233
400		Safeco Corp.		24,904
300		Torchmark Corp.		20,100
1,780		Travelers Cos., Inc.		95,230
600		UnumProvident Corp.		15,666
500	@@	XL Capital Ltd.		42,145
				1,809,145
Internet: 1.2%
900	@	Amazon.com, Inc.		61,569
2,400	@	eBay, Inc.		77,232
500	@	Google, Inc.		261,690
800	@	IAC/InterActiveCorp.		27,688
2,922	@	Symantec Corp.		59,024
700	@	VeriSign, Inc.		22,211
2,700	@	Yahoo!, Inc.		73,251
				582,665
Iron/Steel: 0.3%
200		Allegheny Technologies, Inc.		20,976
1,100		Nucor Corp.		64,515
400		United States Steel Corp.		43,500
				128,991
Leisure Time: 0.2%
1,050		Carnival Corp.		51,209
800		Harley-Davidson, Inc.		47,688
				98,897
Lodging: 0.2%
500		Harrah’s Entertainment, Inc.		42,630
500		Hilton Hotels Corp.		16,735
540		Marriott International, Inc.		23,350
350		Starwood Hotels & Resorts Worldwide, Inc.		23,475
				106,190
Machinery - Construction & Mining: 0.3%
1,800		Caterpillar, Inc.		140,940
300	@	Terex Corp.		24,390
				165,330
Machinery - Diversified: 0.3%
500		Cummins, Inc.		50,605
700		Deere & Co.		84,518
350		Rockwell Automation, Inc.		24,304
				159,427
Media: 1.9%
1,825		CBS Corp. - Class B		60,809
1,200		Clear Channel Communications, Inc.		45,384
5,450	@	Comcast Corp. – Class A		153,254
1,900	@	DIRECTV Group, Inc.		43,909
700		Gannett Co., Inc.		38,465
1,220		McGraw-Hill Cos., Inc.		83,058

See Accompanying Notes to Financial Statements

71

ING GET U.S. CORE PORTFOLIO SERIES 4 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Media (continued)
6,150		News Corp., Inc. - Class A	$	130,442
7,200		Time Warner, Inc.		151,488
1,400	@	Viacom - Class B		58,282
5,050		Walt Disney Co.		172,407
				937,498
Metal Fabricate/Hardware: 0.0%
200		Precision Castparts Corp.		24,272
				24,272
Mining: 0.4%
1,900		Alcoa, Inc.		77,007
871		Freeport-McMoRan Copper & Gold, Inc.		72,136
700		Newmont Mining Corp.		27,342
				176,485
Miscellaneous Manufacturing: 3.5%
1,900		3M Co.		164,901
700		Cooper Industries Ltd.		39,963
550		Danaher Corp.		41,525
1,400		Eastman Kodak Co.		38,962
850		Eaton Corp.		79,050
23,550		General Electric Co.		901,470
1,850		Honeywell International, Inc.		104,118
1,200		Illinois Tool Works, Inc.		65,028
700		ITT Corp.		47,796
400		Pall Corp.		18,396
600		Parker Hannifin Corp.		58,746
200		Textron, Inc.		22,022
5,100	@	Tyco International Ltd.		172,329
				1,754,306
Office/Business Equipment: 0.1%
2,300	@	Xerox Corp.		42,504
				42,504
Oil & Gas: 6.0%
1,300		Anadarko Petroleum Corp.		67,587
500		Apache Corp.		40,795
900		Chesapeake Energy Corp.		31,140
5,943		Chevron Corp.		500,638
4,335		ConocoPhillips		340,298
1,200		Devon Energy Corp.		93,948
500		ENSCO International, Inc.		30,505
250		EOG Resources, Inc.		18,265
14,300		ExxonMobil Corp.		1,199,484
300		Hess Corp.		17,688
2,200		Marathon Oil Corp.		131,912
200		Murphy Oil Corp.		11,888
700	@, @@	Nabors Industries Ltd.		23,366
400		Noble Corp.		39,008
2,400		Occidental Petroleum Corp.		138,912
500		Sunoco, Inc.		39,840
800	@	Transocean, Inc.		84,784
1,500		Valero Energy Corp.		110,790
700		XTO Energy, Inc.		42,070
				2,962,918
Oil & Gas Services: 0.9%
600		Baker Hughes, Inc.		50,478
2,900		Halliburton Co.		100,050
500	@	National Oilwell Varco, Inc.		52,120

Shares			Value
2,600		Schlumberger Ltd.	$	220,844
400	@	Weatherford International Ltd.		22,096
				445,588
Packaging & Containers: 0.2%
300		Ball Corp.		15,951
700		Bemis Co.		23,226
1,100	@	Pactiv Corp.		35,079
1,000		Sealed Air Corp.		31,020
				105,276
Pharmaceuticals: 3.6%
2,800		Abbott Laboratories		149,940
680		AmerisourceBergen Corp.		33,640
300	@	Barr Pharmaceuticals, Inc.		15,069
4,600		Bristol-Myers Squibb Co.		145,176
880		Cardinal Health, Inc.		62,163
2,100		Eli Lilly & Co.		117,348
620	@	Express Scripts, Inc.		31,006
1,100	@	Forest Laboratories, Inc.		50,215
2,200	@	Gilead Sciences, Inc.		85,294
790	@	King Pharmaceuticals, Inc.		16,163
700	@	Medco Health Solutions, Inc.		54,593
5,200		Merck & Co., Inc.		258,960
950		Mylan Laboratories		17,281
17,300		Pfizer, Inc.		442,361
3,950		Schering-Plough Corp.		120,238
500	@	Watson Pharmaceuticals, Inc.		16,265
3,100		Wyeth		177,754
				1,793,466
Pipelines: 0.3%
1,400		El Paso Corp.		24,122
600		Questar Corp.		31,710
1,300		Spectra Energy Corp.		33,748
1,350		Williams Cos., Inc.		42,687
				132,267
Real Estate Investment Trusts: 0.5%
300		Apartment Investment & Management Co.		15,126
410		Archstone-Smith Trust		24,235
300		Boston Properties, Inc.		30,639
250		Developers Diversified Realty Corp.		13,178
300		Equity Residential		13,689
900		Host Hotels & Resorts, Inc.		20,808
300		Kimco Realty Corp.		11,421
700		Prologis		39,830
400		Simon Property Group, Inc.		37,216
200		Vornado Realty Trust		21,968
				228,110
Retail: 3.7%
300	@	Autozone, Inc.		40,986
400	@	Bed Bath & Beyond, Inc.		14,396
1,275		Best Buy Co., Inc.		59,504
600	@	Big Lots, Inc.		17,652
1,100		Costco Wholesale Corp.		64,372
3,303		CVS Corp.		120,394
450		Darden Restaurants, Inc.		19,796
600		Dollar General Corp.		13,152
900		Family Dollar Stores, Inc.		30,888
1,550		Gap, Inc.		29,605
4,270		Home Depot, Inc.		168,025
700		JC Penney Co., Inc.		50,666

See Accompanying Notes to Financial Statements

72

ING GET U.S. CORE PORTFOLIO SERIES 4 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail (continued)
700	@	Kohl’s Corp.	$	49,721
3,400		Lowe’s Cos., Inc.		104,346
1,566		Macy’s, Inc.		62,295
3,450		McDonald’s Corp.		175,122
600		Nordstrom, Inc.		30,672
500	@	Office Depot, Inc.		15,150
600		RadioShack Corp.		19,884
160	@	Sears Holding Corp.		27,120
1,400		Staples, Inc.		33,222
1,950	@	Starbucks Corp.		51,168
2,200		Target Corp.		139,920
1,500		TJX Cos., Inc.		41,250
2,400		Walgreen Co.		104,496
5,600		Wal-Mart Stores, Inc.		269,416
600		Wendy’s International, Inc.		22,050
1,200		Yum! Brands, Inc.		39,264
				1,814,532
Savings & Loans: 0.3%
1,300		Hudson City Bancorp., Inc.		15,886
700		Sovereign Bancorp., Inc.		14,798
2,576		Washington Mutual, Inc.		109,841
				140,525
Semiconductors: 1.7%
1,100	@	Advanced Micro Devices, Inc.		15,730
1,150		Altera Corp.		25,450
750		Analog Devices, Inc.		28,230
2,050		Applied Materials, Inc.		40,734
800	@	Broadcom Corp.		23,400
14,300		Intel Corp.		339,768
700		KLA-Tencor Corp.		38,465
700		Linear Technology Corp.		25,326
1,500	@	LSI Logic Corp.		11,265
600		Maxim Integrated Products		20,046
500	@	MEMC Electronic Materials, Inc.		30,560
1,550	@	Micron Technology, Inc.		19,422
650		National Semiconductor Corp.		18,376
600	@	Novellus Systems, Inc.		17,022
700	@	Nvidia Corp.		28,917
950	@	Teradyne, Inc.		16,701
2,800		Texas Instruments, Inc.		105,364
700		Xilinx, Inc.		18,739
				823,515
Software: 2.6%
1,260	@	Adobe Systems, Inc.		50,589
900	@	Autodesk, Inc.		42,372
1,450		Automatic Data Processing, Inc.		70,282
750	@	BMC Software, Inc.		22,725
1,950		CA, Inc.		50,369
800	@	Citrix Systems, Inc.		26,936
1,900	@	Compuware Corp.		22,534
650	@	Electronic Arts, Inc.		30,758
2,100		First Data Corp.		68,607
500	@	Fiserv, Inc.		28,400
1,200	@	Intuit, Inc.		36,096
19,800		Microsoft Corp.		583,506
2,000	@	Novell, Inc.		15,580
9,300	@	Oracle Corp.		183,303
900		Paychex, Inc.		35,208
				1,267,265

Shares				Value
	Telecommunications: 4.3%
	600	@@	Allergan, Inc.	$	34,584
	900		Alltel Corp.		60,795
	15,051		AT&T, Inc.		624,617
	1,200	@	Avaya, Inc.		20,208
	850		CenturyTel, Inc.		41,693
	15,100	@	Cisco Systems, Inc.		420,535
	1,600		Citizens Communications Co.		24,432
	3,950	@	Corning, Inc.		100,923
	352		Embarq Corp.		22,306
	1,200	@	Juniper Networks, Inc.		30,204
	5,510		Motorola, Inc.		97,527
	4,000		Qualcomm, Inc.		173,560
	4,500	@	Qwest Communications International, Inc.		43,650
	6,846		Sprint Nextel Corp.		141,781
	1,500	@	Tellabs, Inc.		16,140
	6,300		Verizon Communications, Inc.		259,371
					2,112,326
	Toys/Games/Hobbies: 0.1%
	700		Hasbro, Inc.		21,987
	1,350		Mattel, Inc.		34,142
					56,129
	Transportation: 1.0%
	550		Burlington Northern Santa Fe Corp.		46,827
	300		CH Robinson Worldwide, Inc.		15,756
	980		CSX Corp.		44,178
	850		FedEx Corp.		94,325
	1,000		Norfolk Southern Corp.		52,570
	650		Union Pacific Corp.		74,848
	2,000		United Parcel Service, Inc.		146,000
					474,504
			Total Common Stock (Cost $29,687,182)		32,587,295
Principal Amount
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 30.1%
	Federal National Mortgage Corporation: 30.1%
$	16,500,000	^	5.280%, due 06/15/09	$	14,918,855
			Total U.S. Government Agency Obligations (Cost $ 15,105,247 )		14,918,855
	U.S. TREASURY OBLIGATIONS: 3.8%
	U.S. Treasury STRIP: 3.8%
	2,065,000	^^	4.587%, due 08/15/09		1,863,250
			Total U.S. Treasury Obligations (Cost $1,858,096)		1,863,250
			Total Long-Term Investments (Cost $46,650,525)		49,369,400
Shares
	SHORT-TERM INVESTMENTS: 0.3%
	Mutual Fund: 0.1%
	20,000	**	ING Institutional Prime Money Market Fund		20,000
			Total Mutual Fund (Cost $20,000)		20,000

See Accompanying Notes to Financial Statements

73

ING GET U.S. CORE PORTFOLIO SERIES 4 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount					Value
	Repurchase Agreement: 0.2%
$	110,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $110,049 to be received upon repurchase (Collateralized by $240,000 Resolution Funding Corporation, Discount Note, Market Value $114,386, due 01/15/21)			$	110,000
		Total Repurchase Agreement (Cost $110,000)				110,000
		Total Short-Term Investments (Cost $130,000)				130,000
		Total Investments in Securities (Cost $46,780,525)*	100.1	%	$	49,499,400
		Other Assets and Liabilities - Net	(0.1	)		(29,975	)
		Net Assets	100.0	%	$	49,469,425

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

^^ Principal Only (PO) Security

* Cost for federal income tax purposes is $47,084,662.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	3,057,101
Gross Unrealized Depreciation		(642,363	)
Net Unrealized Appreciation	$	2,414,738

See Accompanying Notes to Financial Statements

74

ING GET U.S. CORE PORTFOLIO SERIES 5 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 98.8%
Advertising: 0.2%
1,360		Omnicom Group	$	71,971
				71,971
Aerospace/Defense: 2.4%
1,980		Boeing Co.		190,397
1,300		General Dynamics Corp.		101,686
300		Goodrich Corp.		17,868
450		L-3 Communications Holdings, Inc.		43,826
1,230		Lockheed Martin Corp.		115,780
710		Northrop Grumman Corp.		55,288
1,923		Raytheon Co.		103,630
2,630		United Technologies Corp.		186,546
				815,021
Agriculture: 1.5%
5,480		Altria Group, Inc.		384,367
1,380		Archer-Daniels-Midland Co.		45,664
700		Reynolds American, Inc.		45,640
750		UST, Inc.		40,283
				515,954
Apparel: 0.5%
1,260	@	Coach, Inc.		59,711
1,140		Nike, Inc.		66,451
300		Polo Ralph Lauren Corp.		29,433
				155,595

Shares			Value
Auto Manufacturers: 0.5%
5,320		Ford Motor Co.	$	50,114
1,300		General Motors Corp.		49,140
825		Paccar, Inc.		71,808
				171,062
Auto Parts & Equipment: 0.2%
400	@	Goodyear Tire & Rubber Co.		13,904
390		Johnson Controls, Inc.		45,150
				59,054
Banks: 6.2%
11,343		Bank of America Corp.		554,559
1,930	@	Bank of New York Co., Inc.		79,979
1,255		BB&T Corp.		51,053
896		Capital One Financial Corp.		70,282
690		Comerica, Inc.		41,034
300		Compass Bancshares, Inc.		20,694
700		Fifth Third Bancorp.		27,839
2,500		Huntington Bancshares, Inc.		56,850
2,180		Keycorp.		74,839
700		Marshall & Ilsley Corp.		33,341
1,390		Mellon Financial Corp.		61,160
1,520		National City Corp.		50,646
300		Northern Trust Corp.		19,272
750		PNC Financial Services Group, Inc.		53,685
3,050		Regions Financial Corp.		100,955
840		State Street Corp.		57,456
640		SunTrust Banks, Inc.		54,874
2,920		US Bancorp.		96,214
5,725		Wachovia Corp.		293,406
9,240		Wells Fargo & Co.		324,971
				2,123,109
Beverages: 2.0%
1,690		Anheuser-Busch Cos., Inc.		88,150
5,100		Coca-Cola Co.		266,781
1,040		Pepsi Bottling Group, Inc.		35,027
4,600		PepsiCo, Inc.		298,310
				688,268
Biotechnology: 0.8%
2,730	@	Amgen, Inc.		150,942
750	@	Biogen Idec, Inc.		40,125
750	@	Celgene Corp.		42,998
810	@	Genzyme Corp.		52,164
				286,229
Building Materials: 0.2%
300		American Standard Cos., Inc.		17,694
1,850		Masco Corp.		52,670
				70,364
Chemicals: 1.6%
230		Air Products & Chemicals, Inc.		18,485
400		Ashland, Inc.		25,580
2,180		Dow Chemical Co.		96,400
400		Ecolab, Inc.		17,080
1,750		EI DuPont de Nemours & Co.		88,970
730		International Flavors & Fragrances, Inc.		38,062
1,480		Monsanto Co.		99,959
800		PPG Industries, Inc.		60,888
400		Praxair, Inc.		28,796

See Accompanying Notes to Financial Statements

75

ING GET U.S. CORE PORTFOLIO SERIES 5 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Chemicals (continued)
540		Sherwin-Williams Co.	$	35,894
1,100		Sigma-Aldrich Corp.		46,937
				557,051
Coal: 0.1%
400		Consol Energy, Inc.		18,444
630		Peabody Energy Corp.		30,479
				48,923
Commercial Services: 0.7%
400	@	Apollo Group, Inc.		23,372
1,000	@	Convergys Corp.		24,240
490		Equifax, Inc.		21,766
860		McKesson Corp.		51,290
520		Moody's Corp.		32,344
610		Robert Half International, Inc.		22,265
600		RR Donnelley & Sons Co.		26,106
1,700		Western Union Co.		35,411
				236,794
Computers: 4.5%
200	@	Affiliated Computer Services, Inc.		11,344
2,300	@	Apple, Inc.		280,692
230	@	Cognizant Technology Solutions Corp.		17,271
540	@	Computer Sciences Corp.		31,941
6,860	@	Dell, Inc.		195,853
1,600		Electronic Data Systems Corp.		44,368
6,470	@	EMC Corp.		117,107
7,230		Hewlett-Packard Co.		322,603
3,560		International Business Machines Corp.		374,690
350	@	Lexmark International, Inc.		17,259
360	@	NCR Corp.		18,914
1,190	@	Network Appliance, Inc.		34,748
550	@	Sandisk Corp.		26,917
7,800	@	Sun Microsystems, Inc.		41,028
				1,534,735
Cosmetics/Personal Care: 1.8%
700		Avon Products, Inc.		25,725
1,250		Colgate-Palmolive Co.		81,063
550		Estee Lauder Cos., Inc.		25,031
8,192		Procter & Gamble Co.		501,268
				633,087
Distribution/Wholesale: 0.1%
360		WW Grainger, Inc.		33,498
				33,498
Diversified Financial Services: 8.0%
2,920		American Express Co.		178,646
784		Ameriprise Financial, Inc.		49,839
360		Bear Stearns Cos., Inc.		50,400
2,600		Charles Schwab Corp.		53,352
80		Chicago Mercantile Exchange Holdings, Inc.		42,749
650		CIT Group, Inc.		35,640
11,700		Citigroup, Inc.		600,093
1,550		Countrywide Financial Corp.		56,343
700	@	E*Trade Financial Corp.		15,463
2,330		Fannie Mae		152,219
450		Franklin Resources, Inc.		59,612

Shares			Value
1,750		Freddie Mac	$	106,225
1,160		Goldman Sachs Group, Inc.		251,430
750		Janus Capital Group, Inc.		20,880
9,050		JP Morgan Chase & Co.		438,473
200		Legg Mason, Inc.		19,676
1,360		Lehman Brothers Holdings, Inc.		101,347
2,490		Merrill Lynch & Co., Inc.		208,114
2,870		Morgan Stanley		240,736
1,000		SLM Corp.		57,580
300		T. Rowe Price Group, Inc.		15,567
				2,754,384
Electric: 3.3%
1,550	@	AES Corp.		33,914
730		American Electric Power Co., Inc.		32,879
1,000		CMS Energy Corp.		17,200
610		Constellation Energy Group, Inc.		53,174
1,000		Dominion Resources, Inc.		86,310
1,300		DTE Energy Co.		62,686
1,300		Duke Energy Corp.		23,790
1,780		Edison International		99,894
1,300		Entergy Corp.		139,555
1,900		Exelon Corp.		137,940
1,350		FirstEnergy Corp.		87,386
1,900		FPL Group, Inc.		107,806
1,540		PG&E Corp.		69,762
400		PPL Corp.		18,716
900		Public Service Enterprise Group, Inc.		79,002
1,000		TECO Energy, Inc.		17,180
1,220		TXU Corp.		82,106
				1,149,300
Electrical Components & Equipment: 0.2%
1,600		Emerson Electric Co.		74,880
				74,880
Electronics: 0.4%
830	@	Agilent Technologies, Inc.		31,905
700		Tektronix, Inc.		23,618
1,180	@	Thermo Electron Corp.		61,030
290	@	Waters Corp.		17,214
				133,767
Engineering & Construction: 0.1%
200		Fluor Corp.		22,274
				22,274
Entertainment: 0.1%
650		International Game Technology		25,805
				25,805
Environmental Control: 0.3%
1,300	@	Allied Waste Industries, Inc.		17,498
1,780		Waste Management, Inc.		69,509
				87,007
Food: 1.6%
1,100		Campbell Soup Co.		42,691
400	@	Dean Foods Co.		12,748
1,580		General Mills, Inc.		92,304
300		Hershey Co.		15,186
2,050		HJ Heinz Co.		97,314
600		Kellogg Co.		31,074
3,069		Kraft Foods, Inc.		108,182

See Accompanying Notes to Financial Statements

76

ING GET U.S. CORE PORTFOLIO SERIES 5 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Food (continued)
1,810		Kroger Co.	$	50,915
1,300		Safeway, Inc.		44,239
400		Supervalu, Inc.		18,528
600		Sysco Corp.		19,794
300		Whole Foods Market, Inc.		11,490
300		WM Wrigley Jr. Co.		16,593
				561,058
Forest Products & Paper: 0.4%
1,600		International Paper Co.		62,480
560		Temple-Inland, Inc.		34,457
400		Weyerhaeuser Co.		31,572
				128,509
Gas: 0.2%
400		KeySpan Corp.		16,792
810		Sempra Energy		47,976
				64,768
Hand/Machine Tools: 0.2%
300		Black & Decker Corp.		26,493
460		Snap-On, Inc.		23,235
410		Stanley Works		24,887
				74,615
Healthcare - Products: 2.9%
2,050		Baxter International, Inc.		115,497
710		Becton Dickinson & Co.		52,895
600		Biomet, Inc.		27,432
2,550	@	Boston Scientific Corp.		39,117
300		CR Bard, Inc.		24,789
7,650		Johnson & Johnson		471,393
2,800		Medtronic, Inc.		145,208
600	@	St. Jude Medical, Inc.		24,894
600		Stryker Corp.		37,854
300	@	Varian Medical Systems, Inc.		12,753
600	@	Zimmer Holdings, Inc.		50,934
				1,002,766
Healthcare - Services: 1.4%
1,460		Aetna, Inc.		72,124
465	@	Coventry Health Care, Inc.		26,807
550	@	Humana, Inc.		33,501
200	@	Laboratory Corp. of America Holdings		15,652
3,820		UnitedHealth Group, Inc.		195,355
1,540	@	WellPoint, Inc.		122,938
				466,377
Home Builders: 0.2%
600		Centex Corp.		24,060
600		KB Home		23,622
400		Lennar Corp.		14,624
				62,306
Home Furnishings: 0.1%
200		Harman International Industries, Inc.		23,360
200		Whirlpool Corp.		22,240
				45,600
Household Products/Wares: 0.3%
200		Clorox Co.		12,420
1,600		Kimberly-Clark Corp.		107,024
				119,444

Shares			Value
Housewares: 0.1%
700		Newell Rubbermaid, Inc.	$	20,601
				20,601
Insurance: 5.5%
1,090	@@	ACE Ltd.		68,147
1,450		Aflac, Inc.		74,530
2,020		Allstate Corp.		124,250
150		AMBAC Financial Group, Inc.		13,079
6,420		American International Group, Inc.		449,593
950		AON Corp.		40,480
400		Assurant, Inc.		23,568
1,730		Chubb Corp.		93,662
720		Cigna Corp.		37,598
1,600		Genworth Financial, Inc.		55,040
1,010		Hartford Financial Services Group, Inc.		99,495
790		Lincoln National Corp.		56,051
980		Loews Corp.		49,960
1,200		Marsh & McLennan Cos., Inc.		37,056
250		MBIA, Inc.		15,555
2,420		Metlife, Inc.		156,042
290		MGIC Investment Corp.		16,489
1,110		Principal Financial Group		64,702
2,670		Progressive Corp.		63,893
1,430		Prudential Financial, Inc.		139,039
470		Safeco Corp.		29,262
380		Torchmark Corp.		25,460
2,040		Travelers Cos., Inc.		109,140
600		UnumProvident Corp.		15,666
500	@@	XL Capital Ltd.		42,145
				1,899,902
Internet: 1.8%
850	@	Amazon.com, Inc.		58,149
2,780	@	eBay, Inc.		89,460
550	@	Google, Inc.		287,859
700	@	IAC/InterActiveCorp.		24,227
2,798	@	Symantec Corp.		56,520
650	@	VeriSign, Inc.		20,625
3,000	@	Yahoo!, Inc.		81,390
				618,230
Iron/Steel: 0.3%
200		Allegheny Technologies, Inc.		20,976
900		Nucor Corp.		52,785
350		United States Steel Corp.		38,063
				111,824
Leisure Time: 0.3%
1,060		Carnival Corp.		51,696
690		Harley-Davidson, Inc.		41,131
				92,827
Lodging: 0.3%
500		Harrah’s Entertainment, Inc.		42,630
500		Hilton Hotels Corp.		16,735
530		Marriott International, Inc.		22,917
360		Starwood Hotels & Resorts Worldwide, Inc.		24,145
				106,427

See Accompanying Notes to Financial Statements

77

ING GET U.S. CORE PORTFOLIO SERIES 5 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Machinery - Construction & Mining: 0.5%
1,850		Caterpillar, Inc.	$	144,855
300	@	Terex Corp.		24,390
				169,245
Machinery - Diversified: 0.4%
500		Cummins, Inc.		50,605
700		Deere & Co.		84,518
280		Rockwell Automation, Inc.		19,443
				154,566
Media: 3.0%
1,960		CBS Corp. - Class B		65,307
1,200		Clear Channel Communications, Inc.		45,384
6,600	@	Comcast Corp. - Class A		185,592
1,900	@	DIRECTV Group, Inc.		43,909
800		Gannett Co., Inc.		43,960
1,280		McGraw-Hill Cos., Inc.		87,142
6,800		News Corp., Inc. - Class A		144,228
7,700		Time Warner, Inc.		162,008
1,500	@	Viacom - Class B		62,445
5,380		Walt Disney Co.		183,673
				1,023,648
Metal Fabricate/Hardware: 0.1%
200		Precision Castparts Corp.		24,272
				24,272
Mining: 0.6%
2,200		Alcoa, Inc.		89,166
921		Freeport-McMoRan Copper & Gold, Inc.		76,277
800		Newmont Mining Corp.		31,248
				196,691
Miscellaneous Manufacturing: 5.2%
2,090		3M Co.		181,391
620		Cooper Industries Ltd.		35,396
630		Danaher Corp.		47,565
1,450		Eastman Kodak Co.		40,354
810		Eaton Corp.		75,330
23,430		General Electric Co.		896,886
1,890		Honeywell International, Inc.		106,369
1,300		Illinois Tool Works, Inc.		70,447
800		ITT Corp.		54,624
400		Pall Corp.		18,396
600		Parker Hannifin Corp.		58,746
200		Textron, Inc.		22,022
5,600	@	Tyco International Ltd.		189,224
				1,796,750
Office/Business Equipment: 0.2%
2,950	@	Xerox Corp.		54,516
				54,516
Oil & Gas: 8.8%
1,410		Anadarko Petroleum Corp.		73,306
500		Apache Corp.		40,795
800		Chesapeake Energy Corp.		27,680
5,775		Chevron Corp.		486,486
4,401		ConocoPhillips		345,479
1,210		Devon Energy Corp.		94,731
600		ENSCO International, Inc.		36,606
300		EOG Resources, Inc.		21,918
14,240		ExxonMobil Corp.		1,194,451

Shares				Value
400		Hess Corp.		$	23,584
2,360		Marathon Oil Corp.			141,506
300		Murphy Oil Corp.			17,832
700	@, @@	Nabors Industries Ltd.			23,366
400		Noble Corp.			39,008
2,600		Occidental Petroleum Corp.			150,488
500		Sunoco, Inc.			39,840
900	@	Transocean, Inc.			95,382
1,660		Valero Energy Corp.			122,608
950		XTO Energy, Inc.			57,095
					3,032,161
Oil & Gas Services: 1.4%
700		Baker Hughes, Inc.			58,891
3,000		Halliburton Co.			103,500
700	@	National Oilwell Varco, Inc.			72,968
2,700		Schlumberger Ltd.			229,338
500	@	Weatherford International Ltd.			27,620
					492,317
Packaging & Containers: 0.3%
280		Ball Corp.			14,888
600		Bemis Co.			19,908
1,150	@	Pactiv Corp.			36,674
900		Sealed Air Corp.			27,918
					99,388
Pharmaceuticals: 5.7%			��
3,450		Abbott Laboratories			184,748
820		AmerisourceBergen Corp.			40,565
350	@	Barr Pharmaceuticals, Inc.			17,581
5,200		Bristol-Myers Squibb Co.			164,112
910		Cardinal Health, Inc.			64,282
2,300		Eli Lilly & Co.			128,524
620	@	Express Scripts, Inc.			31,006
1,100	@	Forest Laboratories, Inc.			50,215
2,180	@	Gilead Sciences, Inc.			84,519
840	@	King Pharmaceuticals, Inc.			17,186
700	@	Medco Health Solutions, Inc.			54,593
5,810		Merck & Co., Inc.			289,338
1,000		Mylan Laboratories			18,190
18,030		Pfizer, Inc.			461,027
3,950		Schering-Plough Corp.			120,238
500	@	Watson Pharmaceuticals, Inc.			16,265
3,440		Wyeth			197,250
					1,939,639
Pipelines: 0.4%
1,500		El Paso Corp.			25,845
600		Questar Corp.			31,710
1,400		Spectra Energy Corp.			36,344
1,490		Williams Cos., Inc.			47,114
					141,013
Real Estate Investment Trusts: 0.8%
300		Apartment Investment & Management Co.			15,126
430		Archstone-Smith Trust			25,417
400		Boston Properties, Inc.			40,852
260		Developers Diversified Realty Corp.			13,705
400		Equity Residential			18,252
900		Host Hotels & Resorts, Inc.			20,808
500		Kimco Realty Corp.			19,035

See Accompanying Notes to Financial Statements

78

ING GET U.S. CORE PORTFOLIO SERIES 5 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Real Estate Investment Trusts (continued)
800		Prologis	$	45,520
400		Simon Property Group, Inc.		37,216
300		Vornado Realty Trust		32,952
				268,883
Retail: 5.6%
300	@	Autozone, Inc.		40,986
400	@	Bed Bath & Beyond, Inc.		14,396
1,285		Best Buy Co., Inc.		59,971
600	@	Big Lots, Inc.		17,652
1,190		Costco Wholesale Corp.		69,639
3,486		CVS Corp.		127,065
440		Darden Restaurants, Inc.		19,356
700		Dollar General Corp.		15,344
750		Family Dollar Stores, Inc.		25,740
1,640		Gap, Inc.		31,324
4,510		Home Depot, Inc.		177,469
710		JC Penney Co., Inc.		51,390
800	@	Kohl’s Corp.		56,824
3,840		Lowe’s Cos., Inc.		117,850
1,778		Macy’s, Inc.		70,729
3,630		McDonald’s Corp.		184,259
700		Nordstrom, Inc.		35,784
490	@	Office Depot, Inc.		14,847
700		RadioShack Corp.		23,198
190	@	Sears Holding Corp.		32,205
1,395		Staples, Inc.		33,103
1,630	@	Starbucks Corp.		42,771
2,380		Target Corp.		151,368
1,290		TJX Cos., Inc.		35,475
2,380		Walgreen Co.		103,625
5,930		Wal-Mart Stores, Inc.		285,292
600		Wendy’s International, Inc.		22,050
1,380		Yum! Brands, Inc.		45,154
				1,904,866
Savings & Loans: 0.4%
1,300		Hudson City Bancorp., Inc.		15,886
800		Sovereign Bancorp., Inc.		16,912
2,566		Washington Mutual, Inc.		109,414
				142,212
Semiconductors: 2.5%
1,050	@	Advanced Micro Devices, Inc.		15,015
990		Altera Corp.		21,909
630		Analog Devices, Inc.		23,713
2,110		Applied Materials, Inc.		41,926
900	@	Broadcom Corp.		26,325
14,030		Intel Corp.		333,353
800		KLA-Tencor Corp.		43,960
700		Linear Technology Corp.		25,326
1,600	@	LSI Logic Corp.		12,016
600		Maxim Integrated Products		20,046
600	@	MEMC Electronic Materials, Inc.		36,672
1,650	@	Micron Technology, Inc.		20,675
650		National Semiconductor Corp.		18,376
650	@	Novellus Systems, Inc.		18,441
750	@	Nvidia Corp.		30,983
1,000	@	Teradyne, Inc.		17,580
3,200		Texas Instruments, Inc.		120,416
750		Xilinx, Inc.		20,078
				846,810

Shares			Value
Software: 3.7%
1,250	@	Adobe Systems, Inc.	$	50,188
670	@	Autodesk, Inc.		31,544
1,560		Automatic Data Processing, Inc.		75,613
730	@	BMC Software, Inc.		22,119
1,840		CA, Inc.		47,527
800	@	Citrix Systems, Inc.		26,936
1,930	@	Compuware Corp.		22,890
580	@	Electronic Arts, Inc.		27,446
1,800		First Data Corp.		58,806
690	@	Fiserv, Inc.		39,192
1,220	@	Intuit, Inc.		36,698
20,160		Microsoft Corp.		594,115
2,100	@	Novell, Inc.		16,359
9,870	@	Oracle Corp.		194,538
910		Paychex, Inc.		35,599
				1,279,570
Telecommunications: 6.2%
600	@@	Allergan, Inc.		34,584
700		Alltel Corp.		47,285
14,614		AT&T, Inc.		606,481
1,230	@	Avaya, Inc.		20,713
760		CenturyTel, Inc.		37,278
16,000	@	Cisco Systems, Inc.		445,600
1,700		Citizens Communications Co.		25,959
3,990	@	Corning, Inc.		101,945
351		Embarq Corp.		22,243
1,300	@	Juniper Networks, Inc.		32,721
5,740		Motorola, Inc.		101,598
4,470		Qualcomm, Inc.		193,953
3,500	@	Qwest Communications International, Inc.		33,950
6,983		Sprint Nextel Corp.		144,618
1,600	@	Tellabs, Inc.		17,216
6,750		Verizon Communications, Inc.		277,898
				2,144,042
Toys/Games/Hobbies: 0.2%
700		Hasbro, Inc.		21,987
1,490		Mattel, Inc.		37,682
				59,669
Transportation: 1.5%
610		Burlington Northern Santa Fe Corp.		51,935
300		CH Robinson Worldwide, Inc.		15,756
1,000		CSX Corp.		45,080
810		FedEx Corp.		89,886
1,090		Norfolk Southern Corp.		57,301
700		Union Pacific Corp.		80,605
2,300		United Parcel Service, Inc.		167,900
				508,463
		Total Common Stock (Cost $ 31,047,596 )		33,902,107

See Accompanying Notes to Financial Statements

79

ING GET U.S. CORE PORTFOLIO SERIES 5 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount				Value
	U.S. TREASURY OBLIGATIONS: 0.2%
	U.S. Treasury STRIP: 0.2%
$	80,000	^	4.810%, due 08/15/11	$	65,748
			Total U.S. Treasury Obligations (Cost $66,921)		65,748
			Total Long-Term Investments (Cost $31,114,517)		33,967,855
Shares
	SHORT-TERM INVESTMENTS: 0.4%
	Mutual Fund: 0.0%
	5,000	**	ING Institutional Prime Money Market Fund		5,000
			Total Mutual Fund (Cost $5,000)		5,000

Principal Amount
	Repurchase Agreement: 0.4%
$	120,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $120,053 to be received upon repurchase (Collateralized by $260,000 Resolution Funding Corporation, Discount Note, Market Value $123,919, due 01/15/21)				120,000
		Total Repurchase Agreement (Cost $120,000)				120,000
		Total Short-Term Investments (Cost $125,000)				125,000
		Total Investments in Securities (Cost $31,239,517)*	99.4	%	$	34,092,855
		Other Assets and Liabilities - Net	0.6			202,444
		Net Assets	100.0	%	$	34,295,299

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

* Cost for federal income tax purposes is $31,673,013.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	2,850,703
Gross Unrealized Depreciation		(430,861	)
Net Unrealized Appreciation	$	2,419,842

See Accompanying Notes to Financial Statements

80

ING GET U.S. CORE PORTFOLIO SERIES 6 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 85.7%
Advertising: 0.2%
2,652		Omnicom Group	$	140,344
				140,344
Aerospace/Defense: 2.1%
3,239		Boeing Co.		311,462
2,300		General Dynamics Corp.		179,906
600		Goodrich Corp.		35,736
899		L-3 Communications Holdings, Inc.		87,554
2,125		Lockheed Martin Corp.		200,026
1,359		Northrop Grumman Corp.		105,825
3,252		Raytheon Co.		175,250
4,830		United Technologies Corp.		342,592
				1,438,351
Agriculture: 1.3%
9,260		Altria Group, Inc.		649,496
2,613		Archer-Daniels-Midland Co.		86,464
1,296		Reynolds American, Inc.		84,499
1,380		UST, Inc.		74,120
				894,579
Apparel: 0.4%
2,578	@	Coach, Inc.		122,171
1,948		Nike, Inc.		113,549
700		Polo Ralph Lauren Corp.		68,677
				304,397
Auto Manufacturers: 0.5%
12,401		Ford Motor Co.		116,817
2,300		General Motors Corp.		86,940

Shares			Value
1,570		Paccar, Inc.	$	136,653
				340,410
Auto Parts & Equipment: 0.2%
900	@	Goodyear Tire & Rubber Co.		31,284
977		Johnson Controls, Inc.		113,107
				144,391
Banks: 5.3%
20,169		Bank of America Corp.		986,062
3,548	@	Bank of New York Co., Inc.		147,029
2,380		BB&T Corp.		96,818
1,571		Capital One Financial Corp.		123,229
1,121		Comerica, Inc.		66,666
600		Compass Bancshares, Inc.		41,388
1,200		Fifth Third Bancorp.		47,724
4,841		Huntington Bancshares, Inc.		110,084
3,904		Keycorp.		134,024
1,300		Marshall & Ilsley Corp.		61,919
2,535		Mellon Financial Corp.		111,540
3,322		National City Corp.		110,689
500		Northern Trust Corp.		32,120
1,075		PNC Financial Services Group, Inc.		76,949
4,910		Regions Financial Corp.		162,521
1,538		State Street Corp.		105,199
1,131		SunTrust Banks, Inc.		96,972
5,059		US Bancorp.		166,694
9,155		Wachovia Corp.		469,194
16,234		Wells Fargo & Co.		570,950
				3,717,771
Beverages: 1.6%
2,705		Anheuser-Busch Cos., Inc.		141,093
8,543		Coca-Cola Co.		446,884
2,147		Pepsi Bottling Group, Inc.		72,311
7,377		PepsiCo, Inc.		478,398
				1,138,686
Biotechnology: 0.7%
4,818	@	Amgen, Inc.		266,387
1,360	@	Biogen Idec, Inc.		72,760
1,360	@	Celgene Corp.		77,969
1,412	@	Genzyme Corp.		90,933
				508,049
Building Materials: 0.2%
600		American Standard Cos., Inc.		35,388
3,383		Masco Corp.		96,314
				131,702
Chemicals: 1.4%
362		Air Products & Chemicals, Inc.		29,094
800		Ashland, Inc.		51,160
3,892		Dow Chemical Co.		172,104
900		Ecolab, Inc.		38,430
2,880		EI DuPont de Nemours & Co.		146,419
1,555		International Flavors & Fragrances, Inc.		81,078
2,738		Monsanto Co.		184,925
1,453		PPG Industries, Inc.		110,588
700		Praxair, Inc.		50,393
793		Sherwin-Williams Co.		52,711
2,000		Sigma-Aldrich Corp.		85,340
				1,002,242

See Accompanying Notes to Financial Statements

81

ING GET U.S. CORE PORTFOLIO SERIES 6 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Coal: 0.1%
800		Consol Energy, Inc.	$	36,888
1,130		Peabody Energy Corp.		54,669
				91,557
Commercial Services: 0.6%
760	@	Apollo Group, Inc.		44,407
1,800	@	Convergys Corp.		43,632
983		Equifax, Inc.		43,665
1,634		McKesson Corp.		97,452
1,076		Moody's Corp.		66,927
1,074		Robert Half International, Inc.		39,201
1,100		RR Donnelley & Sons Co.		47,861
3,057		Western Union Co.		63,677
				446,822
Computers: 3.8%
400	@	Affiliated Computer Services, Inc.		22,688
3,800	@	Apple, Inc.		463,752
500	@	Cognizant Technology Solutions Corp.		37,545
1,116	@	Computer Sciences Corp.		66,011
10,923	@	Dell, Inc.		311,852
3,183		Electronic Data Systems Corp.		88,265
11,453	@	EMC Corp.		207,299
11,953		Hewlett-Packard Co.		533,343
6,270		International Business Machines Corp.		659,918
827	@	Lexmark International, Inc.		40,779
708	@	NCR Corp.		37,198
2,162	@	Network Appliance, Inc.		63,130
1,080	@	Sandisk Corp.		52,855
13,520	@	Sun Microsystems, Inc.		71,115
				2,655,750
Cosmetics/Personal Care: 1.6%
1,620		Avon Products, Inc.		59,535
2,508		Colgate-Palmolive Co.		162,644
840		Estee Lauder Cos., Inc.		38,228
14,618		Procter & Gamble Co.		894,475
				1,154,882
Distribution/Wholesale: 0.1%
445		WW Grainger, Inc.		41,407
				41,407
Diversified Financial Services: 7.0%
4,898		American Express Co.		299,660
1,375		Ameriprise Financial, Inc.		87,409
586		Bear Stearns Cos., Inc.		82,040
4,640		Charles Schwab Corp.		95,213
190		Chicago Mercantile Exchange Holdings, Inc.		101,528
1,206		CIT Group, Inc.		66,125
21,055		Citigroup, Inc.		1,079,911
3,040		Countrywide Financial Corp.		110,504
1,500	@	E*Trade Financial Corp.		33,135
3,798		Fannie Mae		248,123
816		Franklin Resources, Inc.		108,096
2,880		Freddie Mac		174,816
2,016		Goldman Sachs Group, Inc.		436,968
1,300		Janus Capital Group, Inc.		36,192
16,240		JP Morgan Chase & Co.		786,828
300		Legg Mason, Inc.		29,514
2,494		Lehman Brothers Holdings, Inc.		185,853
4,382		Merrill Lynch & Co., Inc.		366,248

Shares			Value
5,125		Morgan Stanley	$	429,885
1,898		SLM Corp.		109,287
600		T. Rowe Price Group, Inc.		31,134
				4,898,469
Electric: 2.8%
1,946	@	AES Corp.		42,578
1,315		American Electric Power Co., Inc.		59,228
1,800		CMS Energy Corp.		30,960
1,205		Constellation Energy Group, Inc.		105,040
1,700		Dominion Resources, Inc.		146,727
2,300		DTE Energy Co.		110,906
2,200		Duke Energy Corp.		40,260
2,890		Edison International		162,187
2,100		Entergy Corp.		225,435
3,160		Exelon Corp.		229,416
2,652		FirstEnergy Corp.		171,664
3,100		FPL Group, Inc.		175,894
3,002		PG&E Corp.		135,991
800		PPL Corp.		37,432
1,638		Public Service Enterprise Group, Inc.		143,784
1,900		TECO Energy, Inc.		32,642
2,052		TXU Corp.		138,100
				1,988,244
Electrical Components & Equipment: 0.2%
2,942		Emerson Electric Co.		137,686
				137,686
Electronics: 0.4%
1,576	@	Agilent Technologies, Inc.		60,581
1,300		Tektronix, Inc.		43,862
2,247	@	Thermo Electron Corp.		116,215
722	@	Waters Corp.		42,858
				263,516
Engineering & Construction: 0.0%
300		Fluor Corp.		33,411
				33,411
Entertainment: 0.1%
1,110		International Game Technology		44,067
				44,067
Environmental Control: 0.2%
2,400	@	Allied Waste Industries, Inc.		32,304
3,179		Waste Management, Inc.		124,140
				156,444
Food: 1.4%
1,521		Campbell Soup Co.		59,030
800	@	Dean Foods Co.		25,496
2,946		General Mills, Inc.		172,105
600		Hershey Co.		30,372
3,388		HJ Heinz Co.		160,828
1,200		Kellogg Co.		62,148
4,569		Kraft Foods, Inc.		161,057
3,552		Kroger Co.		99,918
2,060		Safeway, Inc.		70,102
700		Supervalu, Inc.		32,424
800		Sysco Corp.		26,392
560		Whole Foods Market, Inc.		21,448
600		WM Wrigley Jr. Co.		33,186
				954,506

See Accompanying Notes to Financial Statements

82

ING GET U.S. CORE PORTFOLIO SERIES 6 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Forest Products & Paper: 0.3%
2,240		International Paper Co.	$	87,472
1,044		Temple-Inland, Inc.		64,237
400		Weyerhaeuser Co.		31,572
				183,281
Gas: 0.2%
700		KeySpan Corp.		29,386
1,550		Sempra Energy		91,807
				121,193
Hand/Machine Tools: 0.2%
726		Black & Decker Corp.		64,113
859		Snap-On, Inc.		43,388
808		Stanley Works		49,046
				156,547
Healthcare - Products: 2.4%
3,143		Baxter International, Inc.		177,077
1,304		Becton Dickinson & Co.		97,148
1,100		Biomet, Inc.		50,292
4,720	@	Boston Scientific Corp.		72,405
600		CR Bard, Inc.		49,578
13,259		Johnson & Johnson		817,020
4,300		Medtronic, Inc.		222,998
1,100	@	St. Jude Medical, Inc.		45,639
1,100		Stryker Corp.		69,399
500	@	Varian Medical Systems, Inc.		21,255
1,020	@	Zimmer Holdings, Inc.		86,588
				1,709,399
Healthcare - Services: 1.2%
2,684		Aetna, Inc.		132,590
1,200	@	Coventry Health Care, Inc.		69,180
976	@	Humana, Inc.		59,448
454	@	Laboratory Corp. of America Holdings		35,530
5,970		UnitedHealth Group, Inc.		305,306
2,748	@	WellPoint, Inc.		219,373
				821,427
Home Builders: 0.2%
1,100		Centex Corp.		44,110
1,100		KB Home		43,307
700		Lennar Corp.		25,592
				113,009
Home Furnishings: 0.1%
340		Harman International Industries, Inc.		39,712
340		Whirlpool Corp.		37,808
				77,520
Household Products/Wares: 0.3%
500		Clorox Co.		31,050
2,904		Kimberly-Clark Corp.		194,249
				225,299
Housewares: 0.1%
1,300		Newell Rubbermaid, Inc.		38,259
				38,259
Insurance: 4.8%
1,739	@@	ACE Ltd.		108,722
2,856		Aflac, Inc.		146,798
3,664		Allstate Corp.		225,373
455		AMBAC Financial Group, Inc.		39,671

Shares			Value
11,643		American International Group, Inc.	$	815,359
1,680		AON Corp.		71,585
700		Assurant, Inc.		41,244
2,884		Chubb Corp.		156,140
1,539		Cigna Corp.		80,367
2,980		Genworth Financial, Inc.		102,512
1,822		Hartford Financial Services Group, Inc.		179,485
1,270		Lincoln National Corp.		90,107
1,801		Loews Corp.		91,815
2,100		Marsh & McLennan Cos., Inc.		64,848
793		MBIA, Inc.		49,340
3,872		Metlife, Inc.		249,667
413		MGIC Investment Corp.		23,483
1,876		Principal Financial Group		109,352
4,832		Progressive Corp.		115,630
2,543		Prudential Financial, Inc.		247,256
559		Safeco Corp.		34,803
519		Torchmark Corp.		34,773
3,217		Travelers Cos., Inc.		172,110
1,200		UnumProvident Corp.		31,332
1,000	@@	XL Capital Ltd.		84,290
				3,366,062
Internet: 1.5%
1,540	@	Amazon.com, Inc.		105,351
5,164	@	eBay, Inc.		166,178
880	@	Google, Inc.		460,574
1,000	@	IAC/InterActiveCorp.		34,610
4,641	@	Symantec Corp.		93,748
1,420	@	VeriSign, Inc.		45,057
6,000	@	Yahoo!, Inc.		162,780
				1,068,298
Iron/Steel: 0.4%
400		Allegheny Technologies, Inc.		41,952
1,934		Nucor Corp.		113,429
893		United States Steel Corp.		97,114
				252,495
Leisure Time: 0.3%
1,964		Carnival Corp.		95,784
1,676		Harley-Davidson, Inc.		99,906
				195,690
Lodging: 0.3%
900		Harrah's Entertainment, Inc.		76,734
900		Hilton Hotels Corp.		30,123
1,022		Marriott International, Inc.		44,191
665		Starwood Hotels & Resorts Worldwide, Inc.		44,602
				195,650
Machinery - Construction & Mining: 0.4%
3,180		Caterpillar, Inc.		248,994
500	@	Terex Corp.		40,650
				289,644
Machinery - Diversified: 0.4%
908		Cummins, Inc.		91,899
1,320		Deere & Co.		159,377
638		Rockwell Automation, Inc.		44,303
				295,579

See Accompanying Notes to Financial Statements

83

ING GET U.S. CORE PORTFOLIO SERIES 6 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Media: 2.6%
3,530		CBS Corp. - Class B	$	117,620
2,340		Clear Channel Communications, Inc.		88,499
10,270	@	Comcast Corp. - Class A		288,792
4,600	@	DIRECTV Group, Inc.		106,306
1,400		Gannett Co., Inc.		76,930
2,600		McGraw-Hill Cos., Inc.		177,008
11,540		News Corp., Inc. - Class A		244,763
12,800		Time Warner, Inc.		269,312
2,500	@	Viacom - Class B		104,075
9,814		Walt Disney Co.		335,050
				1,808,355
Metal Fabricate/Hardware: 0.1%
400		Precision Castparts Corp.		48,544
				48,544
Mining: 0.5%
3,900		Alcoa, Inc.		158,067
1,736		Freeport-McMoRan Copper & Gold, Inc.		143,776
1,400		Newmont Mining Corp.		54,684
				356,527
Miscellaneous Manufacturing: 4.6%
3,450		3M Co.		299,426
1,186		Cooper Industries Ltd.		67,709
1,372		Danaher Corp.		103,586
2,640		Eastman Kodak Co.		73,471
1,578		Eaton Corp.		146,754
42,163		General Electric Co.		1,613,996
3,286		Honeywell International, Inc.		184,936
2,600		Illinois Tool Works, Inc.		140,894
1,364		ITT Corp.		93,134
700		Pall Corp.		32,193
1,226		Parker Hannifin Corp.		120,038
300		Textron, Inc.		33,033
9,200	@	Tyco International Ltd.		310,868
				3,220,038
Office/Business Equipment: 0.1%
5,467	@	Xerox Corp.		101,030
				101,030
Oil & Gas: 7.7%
2,742		Anadarko Petroleum Corp.		142,557
900		Apache Corp.		73,431
1,600		Chesapeake Energy Corp.		55,360
10,681		Chevron Corp.		899,767
7,672		ConocoPhillips		602,252
2,140		Devon Energy Corp.		167,541
1,100		ENSCO International, Inc.		67,111
532		EOG Resources, Inc.		38,868
25,595		ExxonMobil Corp.		2,146,909
700		Hess Corp.		41,272
4,054		Marathon Oil Corp.		243,078
500		Murphy Oil Corp.		29,720
1,300	@, @@	Nabors Industries Ltd.		43,394
700		Noble Corp.		68,264
4,064		Occidental Petroleum Corp.		235,224
900		Sunoco, Inc.		71,712
1,500	@	Transocean, Inc.		158,970

Shares			Value
2,666		Valero Energy Corp.	$	196,911
1,260		XTO Energy, Inc.		75,726
				5,358,067
Oil & Gas Services: 1.2%
1,200		Baker Hughes, Inc.		100,956
5,164		Halliburton Co.		178,158
1,000	@	National Oilwell Varco, Inc.		104,240
5,140		Schlumberger Ltd.		436,592
900	@	Weatherford International Ltd.		49,716
				869,662
Packaging & Containers: 0.3%
536		Ball Corp.		28,499
1,600		Bemis Co.		53,088
2,100	@	Pactiv Corp.		66,969
1,600		Sealed Air Corp.		49,632
				198,188
Pharmaceuticals: 4.7%
5,340		Abbott Laboratories		285,957
1,566		AmerisourceBergen Corp.		77,470
540	@	Barr Pharmaceuticals, Inc.		27,124
8,400		Bristol-Myers Squibb Co.		265,104
1,703		Cardinal Health, Inc.		120,300
3,800		Eli Lilly & Co.		212,344
820	@	Express Scripts, Inc.		41,008
1,603	@	Forest Laboratories, Inc.		73,177
4,042	@	Gilead Sciences, Inc.		156,708
1,599	@	King Pharmaceuticals, Inc.		32,716
1,200	@	Medco Health Solutions, Inc.		93,588
9,501		Merck & Co., Inc.		473,150
1,900		Mylan Laboratories		34,561
31,635		Pfizer, Inc.		808,907
7,020		Schering-Plough Corp.		213,689
1,000	@	Watson Pharmaceuticals, Inc.		32,530
5,434		Wyeth		311,586
				3,259,919
Pipelines: 0.3%
2,800		El Paso Corp.		48,244
800		Questar Corp.		42,280
2,500		Spectra Energy Corp.		64,900
2,408		Williams Cos., Inc.		76,141
				231,565
Real Estate Investment Trusts: 0.7%
522		Apartment Investment & Management Co.		26,319
830		Archstone-Smith Trust		49,061
700		Boston Properties, Inc.		71,491
700		Developers Diversified Realty Corp.		36,897
700		Equity Residential		31,941
1,700		Host Hotels & Resorts, Inc.		39,304
800		Kimco Realty Corp.		30,456
1,400		Prologis		79,660
700		Simon Property Group, Inc.		65,128
500		Vornado Realty Trust		54,920
				485,177
Retail: 4.8%
670	@	Autozone, Inc.		91,535
800	@	Bed Bath & Beyond, Inc.		28,792
2,035		Best Buy Co., Inc.		94,973

See Accompanying Notes to Financial Statements

84

ING GET U.S. CORE PORTFOLIO SERIES 6 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail (continued)
1,200	@	Big Lots, Inc.	$	35,304
2,634		Costco Wholesale Corp.		154,142
5,435		CVS Corp.		198,106
957		Darden Restaurants, Inc.		42,098
1,300		Dollar General Corp.		28,496
1,540		Family Dollar Stores, Inc.		52,853
3,003		Gap, Inc.		57,357
7,641		Home Depot, Inc.		300,673
1,184		JC Penney Co., Inc.		85,698
1,410	@	Kohl’s Corp.		100,152
6,886		Lowe’s Cos., Inc.		211,331
3,258		Macy’s, Inc.		129,603
6,075		McDonald’s Corp.		308,367
1,202		Nordstrom, Inc.		61,446
979	@	Office Depot, Inc.		29,664
1,300		RadioShack Corp.		43,082
400	@	Sears Holding Corp.		67,800
2,832		Staples, Inc.		67,203
2,844	@	Starbucks Corp.		74,627
3,954		Target Corp.		251,474
2,608		TJX Cos., Inc.		71,720
3,929		Walgreen Co.		171,069
10,080		Wal-Mart Stores, Inc.		484,949
1,200		Wendy's International, Inc.		44,100
2,652		Yum! Brands, Inc.		86,773
				3,373,387
Savings & Loans: 0.4%
2,500		Hudson City Bancorp., Inc.		30,550
1,400		Sovereign Bancorp., Inc.		29,596
4,654		Washington Mutual, Inc.		198,447
				258,593
Semiconductors: 2.2%
2,100	@	Advanced Micro Devices, Inc.		30,030
2,192		Altera Corp.		48,509
1,102		Analog Devices, Inc.		41,479
3,945		Applied Materials, Inc.		78,387
1,600	@	Broadcom Corp.		46,800
24,514		Intel Corp.		582,453
1,400		KLA-Tencor Corp.		76,930
1,500		Linear Technology Corp.		54,270
2,900	@	LSI Logic Corp.		21,779
1,242		Maxim Integrated Products		41,495
1,100	@	MEMC Electronic Materials, Inc.		67,232
2,950	@	Micron Technology, Inc.		36,964
1,291		National Semiconductor Corp.		36,497
1,250	@	Novellus Systems, Inc.		35,463
1,400	@	Nvidia Corp.		57,834
1,850	@	Teradyne, Inc.		32,523
5,200		Texas Instruments, Inc.		195,676
1,360		Xilinx, Inc.		36,407
				1,520,728
Software: 3.3%
2,416	@	Adobe Systems, Inc.		97,002
1,222	@	Autodesk, Inc.		57,532
2,681		Automatic Data Processing, Inc.		129,948
1,325	@	BMC Software, Inc.		40,148
3,651		CA, Inc.		94,305
1,400	@	Citrix Systems, Inc.		47,138
3,789	@	Compuware Corp.		44,938
1,231	@	Electronic Arts, Inc.		58,251

Shares				Value
	3,557		First Data Corp.	$	116,207
	1,231	@	Fiserv, Inc.		69,921
	2,472	@	Intuit, Inc.		74,358
	35,564		Microsoft Corp.		1,048,071
	3,900	@	Novell, Inc.		30,381
	15,705	@	Oracle Corp.		309,546
	1,626		Paychex, Inc.		63,609
					2,281,355
	Telecommunications: 5.4%
	1,000	@@	Allergan, Inc.		57,640
	1,400		Alltel Corp.		94,570
	26,425		AT&T, Inc.		1,096,638
	2,264	@	Avaya, Inc.		38,126
	1,308		CenturyTel, Inc.		64,157
	27,545	@	Cisco Systems, Inc.		767,128
	3,160		Citizens Communications Co.		48,253
	7,250	@	Corning, Inc.		185,238
	965		Embarq Corp.		61,152
	2,400	@	Juniper Networks, Inc.		60,408
	10,213		Motorola, Inc.		180,770
	7,134		Qualcomm, Inc.		309,544
	6,600	@	Qwest Communications International, Inc.		64,020
	11,402		Sprint Nextel Corp.		236,135
	2,900	@	Tellabs, Inc.		31,204
	11,183		Verizon Communications, Inc.		460,404
					3,755,387
	Toys/Games/Hobbies: 0.2%
	1,400		Hasbro, Inc.		43,974
	2,630		Mattel, Inc.		66,513
					110,487
	Transportation: 1.3%
	1,247		Burlington Northern Santa Fe Corp.		106,170
	500		CH Robinson Worldwide, Inc.		26,260
	1,864		CSX Corp.		84,029
	1,586		FedEx Corp.		175,998
	1,944		Norfolk Southern Corp.		102,196
	1,120		Union Pacific Corp.		128,968
	3,700		United Parcel Service, Inc.		270,100
					893,721
			Total Common Stock (Cost $55,300,830)		59,867,765
Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 3.2%
	Federal National Mortgage Corporation: 3.2%
$	2,840,000	^	5.670%, due 02/12/12	$	2,243,492
			Total U.S. Government Agency Obligations (Cost $2,349,230 )		2,243,492

See Accompanying Notes to Financial Statements

85

ING GET U.S. CORE PORTFOLIO SERIES 6 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount			Value
U.S. TREASURY OBLIGATIONS: 10.2%
U.S. Treasury STRIP: 10.2%
$8,900,000	^	4.870%, due 02/15/12	$  7,122,999
		Total U.S. Treasury Obligations (Cost $7,102,725)	7,122,999
		Total Long-Term Investments (Cost $64,752,785)	69,234,256
Shares
SHORT-TERM INVESTMENTS: 0.5%
Mutual Fund: 0.2%
100,000	**	ING Institutional Prime Money Market Fund	100,000
		Total Mutual Fund (Cost $100,000)	100,000

Principal Amount
	Repurchase Agreement: 0.3%
$	228,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $228,101 to be received upon repurchase (Collateralized by $490,000 Resolution Funding Corporation, Discount Note, Market Value $233,539, due 01/15/21)				228,000
		Total Repurchase Agreement (Cost $228,000)				228,000
		Total Short-Term Investments (Cost $328,000)				328,000
		Total Investments in Securities (Cost $65,080,785)*	99.6	%	$	69,562,256
		Other Assets and Liabilities - Net	0.4			298,558
		Net Assets	100.0	%	$	69,860,814

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

* Cost for federal income tax purposes is $65,960,405.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	4,508,675
Gross Unrealized Depreciation		(906,824	)
Net Unrealized Appreciation	$	3,601,851

See Accompanying Notes to Financial Statements

86

ING GET U.S. CORE PORTFOLIO SERIES 7 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 87.7%
Advertising: 0.2%
1,920		Omnicom Group	$	101,606
				101,606
Aerospace/Defense: 2.1%
2,210		Boeing Co.		212,514
1,740		General Dynamics Corp.		136,103
400		Goodrich Corp.		23,824
610		L-3 Communications Holdings, Inc.		59,408
1,450		Lockheed Martin Corp.		136,489
1,016		Northrop Grumman Corp.		79,116
2,717		Raytheon Co.		146,419
3,340		United Technologies Corp.		236,906
				1,030,779
Agriculture: 1.3%
6,650		Altria Group, Inc.		466,431
1,830		Archer-Daniels-Midland Co.		60,555
940		Reynolds American, Inc.		61,288
860		UST, Inc.		46,191
				634,465
Apparel: 0.5%
1,810	@	Coach, Inc.		85,776
1,720		Nike, Inc.		100,259
500		Polo Ralph Lauren Corp.		49,055
				235,090
Auto Manufacturers: 0.5%
6,950		Ford Motor Co.		65,469
1,500		General Motors Corp.		56,700
1,190		Paccar, Inc.		103,578
				225,747

Shares			Value
Auto Parts & Equipment: 0.2%
600	@	Goodyear Tire & Rubber Co.	$	20,856
560		Johnson Controls, Inc.		64,831
				85,687
Banks: 5.4%
14,275		Bank of America Corp.		697,905
2,600	@	Bank of New York Co., Inc.		107,744
1,740		BB&T Corp.		70,783
1,194		Capital One Financial Corp.		93,657
910		Comerica, Inc.		54,118
400		Compass Bancshares, Inc.		27,592
900		Fifth Third Bancorp.		35,793
3,170		Huntington Bancshares, Inc.		72,086
2,750		Keycorp.		94,408
900		Marshall & Ilsley Corp.		42,867
1,730		Mellon Financial Corp.		76,120
1,960		National City Corp.		65,307
400		Northern Trust Corp.		25,696
830		PNC Financial Services Group, Inc.		59,411
4,032		Regions Financial Corp.		133,459
1,030		State Street Corp.		70,452
650		SunTrust Banks, Inc.		55,731
4,050		US Bancorp.		133,448
6,546		Wachovia Corp.		335,483
11,460		Wells Fargo & Co.		403,048
				2,655,108
Beverages: 1.7%
2,140		Anheuser-Busch Cos., Inc.		111,622
6,000		Coca-Cola Co.		313,860
1,360		Pepsi Bottling Group, Inc.		45,805
5,280		PepsiCo, Inc.		342,408
				813,695
Biotechnology: 0.7%
3,420	@	Amgen, Inc.		189,092
920	@	Biogen Idec, Inc.		49,220
960	@	Celgene Corp.		55,037
960	@	Genzyme Corp.		61,824
				355,173
Building Materials: 0.2%
500		American Standard Cos., Inc.		29,490
2,460		Masco Corp.		70,036
				99,526
Chemicals: 1.6%
270		Air Products & Chemicals, Inc.		21,700
700		Ashland, Inc.		44,765
2,910		Dow Chemical Co.		128,680
600		Ecolab, Inc.		25,620
2,540		EI DuPont de Nemours & Co.		129,134
890		International Flavors & Fragrances, Inc.		46,405
1,880		Monsanto Co.		126,975
1,080		PPG Industries, Inc.		82,199
500		Praxair, Inc.		35,995
680		Sherwin-Williams Co.		45,200
1,700		Sigma-Aldrich Corp.		72,539
				759,212
Coal: 0.1%
600		Consol Energy, Inc.		27,666
840		Peabody Energy Corp.		40,639
				68,305

See Accompanying Notes to Financial Statements

87

ING GET U.S. CORE PORTFOLIO SERIES 7 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Commercial Services: 0.6%
560	@	Apollo Group, Inc.	$	32,721
1,300	@	Convergys Corp.		31,512
690		Equifax, Inc.		30,650
970		McKesson Corp.		57,851
780		Moody’s Corp.		48,516
570		Robert Half International, Inc.		20,805
800		RR Donnelley & Sons Co.		34,808
2,140		Western Union Co.		44,576
				301,439
Computers: 3.9%
300	@	Affiliated Computer Services, Inc.		17,016
2,700	@	Apple, Inc.		329,508
350	@	Cognizant Technology Solutions Corp.		26,282
710	@	Computer Sciences Corp.		41,997
7,800	@	Dell, Inc.		222,690
2,110		Electronic Data Systems Corp.		58,510
8,960	@	EMC Corp.		162,176
8,610		Hewlett-Packard Co.		384,178
4,470		International Business Machines Corp.		470,468
530	@	Lexmark International, Inc.		26,134
470	@	NCR Corp.		24,694
1,420	@	Network Appliance, Inc.		41,464
760	@	Sandisk Corp.		37,194
9,560	@	Sun Microsystems, Inc.		50,286
				1,892,597
Cosmetics/Personal Care: 1.7%
1,180		Avon Products, Inc.		43,365
1,660		Colgate-Palmolive Co.		107,651
560		Estee Lauder Cos., Inc.		25,486
10,603		Procter & Gamble Co.		648,798
				825,300
Distribution/Wholesale: 0.1%
510		WW Grainger, Inc.		47,456
				47,456
Diversified Financial Services: 7.0%
3,490		American Express Co.		213,518
934		Ameriprise Financial, Inc.		59,374
420		Bear Stearns Cos., Inc.		58,800
2,880		Charles Schwab Corp.		59,098
140		Chicago Mercantile Exchange Holdings, Inc.		74,810
730		CIT Group, Inc.		40,026
14,800		Citigroup, Inc.		759,092
1,920		Countrywide Financial Corp.		69,792
920	@	E*Trade Financial Corp.		20,323
2,700		Fannie Mae		176,391
530		Franklin Resources, Inc.		70,209
2,260		Freddie Mac		137,182
1,390		Goldman Sachs Group, Inc.		301,283
880		Janus Capital Group, Inc.		24,499
11,480		JP Morgan Chase & Co.		556,206
300		Legg Mason, Inc.		29,514
1,780		Lehman Brothers Holdings, Inc.		132,646
3,100		Merrill Lynch & Co., Inc.		259,098
3,460		Morgan Stanley		290,225
1,320		SLM Corp.		76,006
500		T. Rowe Price Group, Inc.		25,945
				3,434,037

Shares			Value
Electric: 3.0%
2,020	@	AES Corp.	$	44,198
910		American Electric Power Co., Inc.		40,986
1,300		CMS Energy Corp.		22,360
930		Constellation Energy Group, Inc.		81,068
1,400		Dominion Resources, Inc.		120,834
1,600		DTE Energy Co.		77,152
1,200		Duke Energy Corp.		21,960
2,270		Edison International		127,392
1,400		Entergy Corp.		150,290
2,460		Exelon Corp.		178,596
1,650		FirstEnergy Corp.		106,805
2,500		FPL Group, Inc.		141,850
2,040		PG&E Corp.		92,412
500		PPL Corp.		23,395
1,360		Public Service Enterprise Group, Inc.		119,381
1,400		TECO Energy, Inc.		24,052
1,440		TXU Corp.		96,912
				1,469,643
Electrical Components & Equipment: 0.2%
2,120		Emerson Electric Co.		99,216
				99,216
Electronics: 0.4%
1,260	@	Agilent Technologies, Inc.		48,434
900		Tektronix, Inc.		30,366
1,560	@	Thermo Electron Corp.		80,683
360	@	Waters Corp.		21,370
				180,853
Engineering & Construction: 0.0%
200		Fluor Corp.		22,274
				22,274
Entertainment: 0.1%
770		International Game Technology		30,569
				30,569
Environmental Control: 0.2%
1,700	@	Allied Waste Industries, Inc.		22,882
2,280		Waste Management, Inc.		89,034
				111,916
Food: 1.4%
1,430		Campbell Soup Co.		55,498
600	@	Dean Foods Co.		19,122
2,150		General Mills, Inc.		125,603
400		Hershey Co.		20,248
2,620		HJ Heinz Co.		124,371
800		Kellogg Co.		41,432
3,540		Kraft Foods, Inc.		124,785
2,320		Kroger Co.		65,262
1,480		Safeway, Inc.		50,364
500		Supervalu, Inc.		23,160
600		Sysco Corp.		19,794
360		Whole Foods Market, Inc.		13,788
400		WM Wrigley Jr. Co.		22,124
				705,551
Forest Products & Paper: 0.3%
2,080		International Paper Co.		81,224
440		Temple-Inland, Inc.		27,073
300		Weyerhaeuser Co.		23,679
				131,976

See Accompanying Notes to Financial Statements

88

ING GET U.S. CORE PORTFOLIO SERIES 7 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares				Value
Gas: 0.2%
500			KeySpan Corp.	$	20,990
1,290			Sempra Energy		76,407
					97,397
Hand/Machine Tools: 0.2%
300			Black & Decker Corp.		26,493
640			Snap-On, Inc.		32,326
670			Stanley Works		40,669
					99,488
Healthcare - Products: 2.6%
2,480			Baxter International, Inc.		139,723
960			Becton Dickinson & Co.		71,520
800			Biomet, Inc.		36,576
3,400		@	Boston Scientific Corp.		52,156
500			CR Bard, Inc.		41,315
9,540			Johnson & Johnson		587,855
3,500			Medtronic, Inc.		181,510
800		@	St. Jude Medical, Inc.		33,192
800			Stryker Corp.		50,472
400		@	Varian Medical Systems, Inc.		17,004
980		@	Zimmer Holdings, Inc.		83,192
					1,294,515
Healthcare - Services: 1.2%
1,760			Aetna, Inc.		86,944
705		@	Coventry Health Care, Inc.		40,643
700		@	Humana, Inc.		42,637
330		@	Laboratory Corp. of America Holdings		25,826
4,260			UnitedHealth Group, Inc.		217,856
2,080		@	WellPoint, Inc.		166,046
					579,952
Home Builders: 0.2%
800			Centex Corp.		32,080
800			KB Home		31,496
500			Lennar Corp.		18,280
					81,856
Home Furnishings: 0.1%
220			Harman International Industries, Inc.		25,696
220			Whirlpool Corp.		24,464
					50,160
Household Products/Wares: 0.3%
300			Clorox Co.		18,630
2,060			Kimberly-Clark Corp.		137,793
					156,423
Housewares: 0.1%
900			Newell Rubbermaid, Inc.		26,487
					26,487
Insurance: 4.8%
1,360		@@	ACE Ltd.		85,027
1,700			Aflac, Inc.		87,380
2,300			Allstate Corp.		141,473
300			AMBAC Financial Group, Inc.		26,157
8,250			American International Group, Inc.		577,748
920			AON Corp.		39,201
500			Assurant, Inc.		29,460
2,040	��		Chubb Corp.		110,446
990			Cigna Corp.		51,698
2,040			Genworth Financial, Inc.		70,176

Shares			Value
1,490		Hartford Financial Services Group, Inc.	$	146,780
829		Lincoln National Corp.		58,818
1,300		Loews Corp.		66,274
1,500		Marsh & McLennan Cos., Inc.		46,320
360		MBIA, Inc.		22,399
2,680		Metlife, Inc.		172,806
310		MGIC Investment Corp.		17,627
1,260		Principal Financial Group		73,445
3,420		Progressive Corp.		81,841
1,740		Prudential Financial, Inc.		169,180
440		Safeco Corp.		27,394
510		Torchmark Corp.		34,170
2,590		Travelers Cos., Inc.		138,565
900		UnumProvident Corp.		23,499
900	@@	XL Capital Ltd.		75,861
				2,373,745
Internet: 1.6%
1,020	@	Amazon.com, Inc.		69,778
4,150	@	eBay, Inc.		133,547
660	@	Google, Inc.		345,431
700	@	IAC/InterActiveCorp.		24,227
3,575	@	Symantec Corp.		72,215
920	@	VeriSign, Inc.		29,192
4,300	@	Yahoo!, Inc.		116,659
				791,049
Iron/Steel: 0.3%
300		Allegheny Technologies, Inc.		31,464
1,160		Nucor Corp.		68,034
560		United States Steel Corp.		60,900
				160,398
Leisure Time: 0.3%
1,650		Carnival Corp.		80,471
1,200		Harley-Davidson, Inc.		71,532
				152,003
Lodging: 0.3%
600		Harrah’s Entertainment, Inc.		51,156
700		Hilton Hotels Corp.		23,429
720		Marriott International, Inc.		31,133
470		Starwood Hotels & Resorts Worldwide, Inc.		31,523
				137,241
Machinery - Construction & Mining: 0.5%
2,520		Caterpillar, Inc.		197,316
400	@	Terex Corp.		32,520
				229,836
Machinery - Diversified: 0.5%
680		Cummins, Inc.		68,823
980		Deere & Co.		118,325
470		Rockwell Automation, Inc.		32,637
				219,785
Media: 2.6%
2,545		CBS Corp. – Class B		84,799
1,480		Clear Channel Communications, Inc.		55,974
7,830	@	Comcast Corp. – Class A		220,180
2,500	@	DIRECTV Group, Inc.		57,775
1,000		Gannett Co., Inc.		54,950
1,610		McGraw-Hill Cos., Inc.		109,609

See Accompanying Notes to Financial Statements

89

ING GET U.S. CORE PORTFOLIO SERIES 7 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Media (continued)
8,250		News Corp., Inc. - Class A	$	174,983
8,900		Time Warner, Inc.		187,256
1,800	@	Viacom - Class B		74,934
7,050		Walt Disney Co.		240,687
				1,261,147
Metal Fabricate/Hardware: 0.1%
300		Precision Castparts Corp.		36,408
				36,408
Mining: 0.5%
2,800		Alcoa, Inc.		113,484
1,368		Freeport-McMoRan Copper & Gold, Inc.		113,298
900		Newmont Mining Corp.		35,154
				261,936
Miscellaneous Manufacturing: 4.7%
2,530		3M Co.		219,579
920		Cooper Industries Ltd.		52,523
980		Danaher Corp.		73,990
1,900		Eastman Kodak Co.		52,877
1,130		Eaton Corp.		105,090
29,800		General Electric Co.		1,140,735
2,710		Honeywell International, Inc.		152,519
1,900		Illinois Tool Works, Inc.		102,961
980		ITT Corp.		66,914
500		Pall Corp.		22,995
860		Parker Hannifin Corp.		84,203
200		Textron, Inc.		22,022
6,500	@	Tyco International Ltd.		219,635
				2,316,043
Office/Business Equipment: 0.1%
3,180	@	Xerox Corp.		58,766
				58,766
Oil & Gas: 7.7%
1,620		Anadarko Petroleum Corp.		84,224
700		Apache Corp.		57,113
1,300		Chesapeake Energy Corp.		44,980
7,395		Chevron Corp.		622,955
5,262		ConocoPhillips		413,067
1,480		Devon Energy Corp.		115,869
800		ENSCO International, Inc.		48,808
410		EOG Resources, Inc.		29,955
18,060		ExxonMobil Corp.		1,514,873
500		Hess Corp.		29,480
2,880		Marathon Oil Corp.		172,685
400		Murphy Oil Corp.		23,776
900	@,@@	Nabors Industries Ltd.		30,042
400		Noble Corp.		39,008
3,180		Occidental Petroleum Corp.		184,058
600		Sunoco, Inc.		47,808
1,000	@	Transocean, Inc.		105,980
2,080		Valero Energy Corp.		153,629
1,220		XTO Energy, Inc.		73,322
				3,791,632
Oil & Gas Services: 1.3%
1,000		Baker Hughes, Inc.		84,130
4,220		Halliburton Co.		145,590
700	@	National Oilwell Varco, Inc.		72,968

Shares			Value
3,360		Schlumberger Ltd.	$	285,398
800	@	Weatherford International Ltd.		44,192
				632,278
Packaging & Containers: 0.2%
430		Ball Corp.		22,863
600		Bemis Co.		19,908
1,360	@	Pactiv Corp.		43,370
1,100		Sealed Air Corp.		34,122
				120,263
Pharmaceuticals: 4.8%
3,820		Abbott Laboratories		204,561
900		AmerisourceBergen Corp.		44,523
540	@	Barr Pharmaceuticals, Inc.		27,124
6,000		Bristol-Myers Squibb Co.		189,360
1,320		Cardinal Health, Inc.		93,245
2,900		Eli Lilly & Co.		162,052
820	@	Express Scripts, Inc.		41,008
1,320	@	Forest Laboratories, Inc.		60,258
3,320	@	Gilead Sciences, Inc.		128,716
1,100	@	King Pharmaceuticals, Inc.		22,506
800	@	Medco Health Solutions, Inc.		62,392
6,820		Merck & Co., Inc.		339,636
1,260		Mylan Laboratories		22,919
21,770		Pfizer, Inc.		556,659
5,640		Schering-Plough Corp.		171,682
700	@	Watson Pharmaceuticals, Inc.		22,771
3,820		Wyeth		219,039
				2,368,451
Pipelines: 0.4%
2,000		El Paso Corp.		34,460
800		Questar Corp.		42,280
1,800		Spectra Energy Corp.		46,728
1,830		Williams Cos., Inc.		57,865
				181,333
Real Estate Investment Trusts: 0.7%
320		Apartment Investment & Management Co.		16,134
610		Archstone-Smith Trust		36,057
500		Boston Properties, Inc.		51,065
570		Developers Diversified Realty Corp.		30,045
500		Equity Residential		22,815
1,200		Host Hotels & Resorts, Inc.		27,744
600		Kimco Realty Corp.		22,842
900		Prologis		51,210
600		Simon Property Group, Inc.		55,824
300		Vornado Realty Trust		32,952
				346,688
Retail: 5.0%
520	@	Autozone, Inc.		71,042
600	@	Bed Bath & Beyond, Inc.		21,594
1,555		Best Buy Co., Inc.		72,572
900	@	Big Lots, Inc.		26,478
1,690		Costco Wholesale Corp.		98,899
4,287		CVS Corp.		156,261
680		Darden Restaurants, Inc.		29,913
900		Dollar General Corp.		19,728
1,000		Family Dollar Stores, Inc.		34,320
2,150		Gap, Inc.		41,065
5,420		Home Depot, Inc.		213,277

See Accompanying Notes to Financial Statements

90

ING GET U.S. CORE PORTFOLIO SERIES 7 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail (continued)
980		JC Penney Co., Inc.	$	70,932
1,270	@	Kohl’s Corp.		90,208
5,280		Lowe’s Cos., Inc.		162,043
2,338		Macy’s, Inc.		93,006
4,300		McDonald’s Corp.		218,268
860		Nordstrom, Inc.		43,963
660	@	Office Depot, Inc.		19,998
900		RadioShack Corp.		29,826
290	@	Sears Holding Corp.		49,155
1,935		Staples, Inc.		45,918
2,360	@	Starbucks Corp.		61,926
2,770		Target Corp.		176,172
1,630		TJX Cos., Inc.		44,825
3,060		Walgreen Co.		133,232
7,020		Wal-Mart Stores, Inc.		337,732
900		Wendy’s International, Inc.		33,075
1,780		Yum! Brands, Inc.		58,242
				2,453,670
Savings & Loans: 0.4%
1,700		Hudson City Bancorp., Inc.		20,774
1,000		Sovereign Bancorp., Inc.		21,140
3,825		Washington Mutual, Inc.		163,098
				205,012
Semiconductors: 2.2%
1,540	@	Advanced Micro Devices, Inc.		22,022
1,600		Altera Corp.		35,408
850		Analog Devices, Inc.		31,994
2,850		Applied Materials, Inc.		56,630
1,100	@	Broadcom Corp.		32,175
17,310		Intel Corp.		411,286
1,000		KLA-Tencor Corp.		54,950
900		Linear Technology Corp.		32,562
2,000	@	LSI Logic Corp.		15,020
920		Maxim Integrated Products		30,737
800	@	MEMC Electronic Materials, Inc.		48,896
2,110	@	Micron Technology, Inc.		26,438
920		National Semiconductor Corp.		26,008
860	@	Novellus Systems, Inc.		24,398
940	@	Nvidia Corp.		38,831
1,300	@	Teradyne, Inc.		22,854
3,900		Texas Instruments, Inc.		146,757
920		Xilinx, Inc.		24,628
				1,081,594
Software: 3.3%
1,800	@	Adobe Systems, Inc.		72,270
880	@	Autodesk, Inc.		41,430
2,000		Automatic Data Processing, Inc.		96,940
950	@	BMC Software, Inc.		28,785
2,370		CA, Inc.		61,217
1,000	@	Citrix Systems, Inc.		33,670
2,660	@	Compuware Corp.		31,548
860	@	Electronic Arts, Inc.		40,695
2,340		First Data Corp.		76,448
910	@	Fiserv, Inc.		51,688
1,620	@	Intuit, Inc.		48,730
25,330		Microsoft Corp.		746,475
2,800	@	Novell, Inc.		21,812
11,360	@	Oracle Corp.		223,906
1,110		Paychex, Inc.		43,423
				1,619,037

Shares				Value
	Telecommunications: 5.5%
	800	@@	Allergan, Inc.	$	46,112
	1,000		Alltel Corp.		67,550
	18,643		AT&T, Inc.		773,685
	1,520	@	Avaya, Inc.		25,597
	870		CenturyTel, Inc.		42,674
	19,760	@	Cisco Systems, Inc.		550,316
	2,240		Citizens Communications Co.		34,205
	5,790	@	Corning, Inc.		147,935
	661		Embarq Corp.		41,888
	1,600	@	Juniper Networks, Inc.		40,272
	7,980		Motorola, Inc.		141,246
	5,120		Qualcomm, Inc.		222,157
	4,500	@	Qwest Communications International, Inc.		43,650
	7,943		Sprint Nextel Corp.		164,500
	2,100	@	Tellabs, Inc.		22,596
	7,900		Verizon Communications, Inc.		325,243
					2,689,626
	Toys/Games/Hobbies: 0.2%
	1,000		Hasbro, Inc.		31,410
	1,920		Mattel, Inc.		48,557
					79,967
	Transportation: 1.4%
	990		Burlington Northern Santa Fe Corp.		84,289
	400		CH Robinson Worldwide, Inc.		21,008
	1,380		CSX Corp.		62,210
	1,090		FedEx Corp.		120,957
	1,220		Norfolk Southern Corp.		64,135
	940		Union Pacific Corp.		108,241
	2,800		United Parcel Service, Inc.		204,400
					665,240
			Total Common Stock
			(Cost $39,161,732 )		42,936,646
Principal Amount
	U.S. TREASURY OBLIGATIONS: 6.2%
	U.S. Treasury STRIP: 6.2%
$	3,805,000	^	4.870%, due 02/15/12	$	3,045,282
			Total U.S. Treasury Obligations
			(Cost $3,034,425 )		3,045,282
	OTHER BONDS: 5.3%
	Foreign Government Bonds: 5.3%
	3,300,000	@@, Z	Israel Government International Bond, 4.900%, due 05/15/12		2,613,244
			Total Other Bonds
			(Cost $2,654,684 )		2,613,244
			Total Long-Term Investments
			(Cost $44,850,841)		48,595,172
Shares
	SHORT-TERM INVESTMENTS: 0.8%
	Mutual Fund: 0.0%
	5,000	**	ING Institutional Prime Money Market Fund		5,000
			Total Mutual Fund
			(Cost $5,000)		5,000

See Accompanying Notes to Financial Statements

91

ING GET U.S. CORE PORTFOLIO SERIES 7 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount					Value
	Repurchase Agreement: 0.8%
$	385,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $385,170 to be received upon repurchase (Collateralized by $825,000 Resolution Funding Corporation, Discount Note, Market Value $393,203, due 01/15/21)			$	385,000
		Total Repurchase Agreement (Cost $385,000)				385,000
		Total Short-Term Investments (Cost $390,000)				390,000
		Total Investments in Securities
		(Cost $45,240,841)*	100.0	%	$	48,985,172
		Other Assets and Liabilities - Net	(0.0	)		(16,222	)
		Net Assets	100.0	%	$	48,968,950

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

Z Indicates Zero Coupon Bond; rate shown reflects effective yield on the date of purchase

* Cost for federal income tax purposes is $45,868,829.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	3,710,856
Gross Unrealized Depreciation		(594,513	)
Net Unrealized Appreciation	$	3,116,343

See Accompanying Notes to Financial Statements

92

ING GET U.S. CORE PORTFOLIO SERIES 8 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 89.7%
Advertising: 0.2%
1,320		Omnicom Group	$	69,854
				69,854
Aerospace/Defense: 2.1%
1,580		Boeing Co.		151,933
1,030		General Dynamics Corp.		80,567
300		Goodrich Corp.		17,868
400		L-3 Communications Holdings, Inc.		38,956
950		Lockheed Martin Corp.		89,424
570		Northrop Grumman Corp.		44,386
1,641		Raytheon Co.		88,433
2,250		United Technologies Corp.		159,593
				671,160
Agriculture: 1.4%
4,370		Altria Group, Inc.		306,512
1,280		Archer-Daniels-Midland Co.		42,355
620		Reynolds American, Inc.		40,424
740		UST, Inc.		39,745
				429,036
Apparel: 0.4%
1,260	@	Coach, Inc.		59,711
900		Nike, Inc.		52,461
200		Polo Ralph Lauren Corp.		19,622
				131,794
Auto Manufacturers: 0.4%
4,730		Ford Motor Co.		44,557
1,000		General Motors Corp.		37,800

Shares			Value
635		Paccar, Inc.	$	55,270
				137,627
Auto Parts & Equipment: 0.2%
400	@	Goodyear Tire & Rubber Co.		13,904
390		Johnson Controls, Inc.		45,150
				59,054
Banks: 5.5%
9,493		Bank of America Corp.		464,113
1,560	@	Bank of New York Co., Inc.		64,646
1,120		BB&T Corp.		45,562
723		Capital One Financial Corp.		56,712
440		Comerica, Inc.		26,167
300		Compass Bancshares, Inc.		20,694
550		Fifth Third Bancorp.		21,874
2,420		Huntington Bancshares, Inc.		55,031
1,730		Keycorp.		59,391
600		Marshall & Ilsley Corp.		28,578
1,180		Mellon Financial Corp.		51,920
1,350		National City Corp.		44,982
300		Northern Trust Corp.		19,272
560		PNC Financial Services Group, Inc.		40,085
2,411		Regions Financial Corp.		79,804
580		State Street Corp.		39,672
530		SunTrust Banks, Inc.		45,442
2,400		US Bancorp.		79,080
4,258		Wachovia Corp.		218,223
7,580		Wells Fargo & Co.		266,589
				1,727,837
Beverages: 1.7%
1,410		Anheuser-Busch Cos., Inc.		73,546
4,060		Coca-Cola Co.		212,379
1,040		Pepsi Bottling Group, Inc.		35,027
3,410		PepsiCo, Inc.		221,139
				542,091
Biotechnology: 0.8%
2,240	@	Amgen, Inc.		123,850
730	@	Biogen Idec, Inc.		39,055
700	@	Celgene Corp.		40,131
610	@	Genzyme Corp.		39,284
				242,320
Building Materials: 0.2%
300		American Standard Cos., Inc.		17,694
1,550		Masco Corp.		44,129
				61,823
Chemicals: 1.5%
200		Air Products & Chemicals, Inc.		16,074
420		Ashland, Inc.		26,859
1,800		Dow Chemical Co.		79,596
400		Ecolab, Inc.		17,080
1,730		EI DuPont de Nemours & Co.		87,953
620		International Flavors & Fragrances, Inc.		32,327
1,220		Monsanto Co.		82,399
560		PPG Industries, Inc.		42,622
400		Praxair, Inc.		28,796
420		Sherwin-Williams Co.		27,917
900		Sigma-Aldrich Corp.		38,403
				480,026

See Accompanying Notes to Financial Statements

93

ING GET U.S. CORE PORTFOLIO SERIES 8 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Coal: 0.1%
400		Consol Energy, Inc.	$	18,444
580		Peabody Energy Corp.		28,060
				46,504
Commercial Services: 0.7%
390	@	Apollo Group, Inc.		22,788
700	@	Convergys Corp.		16,968
380		Equifax, Inc.		16,880
770		McKesson Corp.		45,923
540		Moody’s Corp.		33,588
390		Robert Half International, Inc.		14,235
600		RR Donnelley & Sons Co.		26,106
1,410		Western Union Co.		29,370
				205,858
Computers: 3.9%
200	@	Affiliated Computer Services, Inc.		11,344
1,800	@	Apple, Inc.		219,672
160	@	Cognizant Technology Solutions Corp.		12,014
540	@	Computer Sciences Corp.		31,941
5,150	@	Dell, Inc.		147,033
1,420		Electronic Data Systems Corp.		39,377
4,930	@	EMC Corp.		89,233
5,580		Hewlett-Packard Co.		248,980
2,940		International Business Machines Corp.		309,435
320	@	Lexmark International, Inc.		15,779
360	@	NCR Corp.		18,914
980	@	Network Appliance, Inc.		28,616
490	@	Sandisk Corp.		23,981
7,580	@	Sun Microsystems, Inc.		39,871
				1,236,190
Cosmetics/Personal Care: 1.7%
650		Avon Products, Inc.		23,888
1,020		Colgate-Palmolive Co.		66,147
520		Estee Lauder Cos., Inc.		23,665
6,832		Procter & Gamble Co.		418,050
				531,750
Distribution/Wholesale: 0.1%
320		WW Grainger, Inc.		29,776
				29,776
Diversified Financial Services: 7.3%
2,490		American Express Co.		152,338
540		Ameriprise Financial, Inc.		34,328
240		Bear Stearns Cos., Inc.		33,600
2,290		Charles Schwab Corp.		46,991
100		Chicago Mercantile Exchange Holdings, Inc.		53,436
540		CIT Group, Inc.		29,608
9,900		Citigroup, Inc.		507,771
1,210		Countrywide Financial Corp.		43,984
780	@	E*Trade Financial Corp.		17,230
1,750		Fannie Mae		114,328
390		Franklin Resources, Inc.		51,663
1,390		Freddie Mac		84,373
860		Goldman Sachs Group, Inc.		186,405
660		Janus Capital Group, Inc.		18,374
7,600		JP Morgan Chase & Co.		368,220
200		Legg Mason, Inc.		19,676

Shares			Value
1,190		Lehman Brothers Holdings, Inc.	$	88,679
2,000		Merrill Lynch & Co., Inc.		167,160
2,410		Morgan Stanley		202,151
930		SLM Corp.		53,549
300		T. Rowe Price Group, Inc.		15,567
				2,289,431
Electric: 3.0%
1,410	@	AES Corp.		30,851
600		American Electric Power Co., Inc.		27,024
900		CMS Energy Corp.		15,480
560		Constellation Energy Group, Inc.		48,815
800		Dominion Resources, Inc.		69,048
1,100		DTE Energy Co.		53,042
900		Duke Energy Corp.		16,470
1,480		Edison International		83,058
1,000		Entergy Corp.		107,350
1,540		Exelon Corp.		111,804
1,070		FirstEnergy Corp.		69,261
1,500		FPL Group, Inc.		85,110
1,230		PG&E Corp.		55,719
400		PPL Corp.		18,716
720		Public Service Enterprise Group, Inc.		63,202
900		TECO Energy, Inc.		15,462
910		TXU Corp.		61,243
				931,655
Electrical Components & Equipment: 0.2%
1,360		Emerson Electric Co.		63,648
				63,648
Electronics: 0.4%
870	@	Agilent Technologies, Inc.		33,443
600		Tektronix, Inc.		20,244
1,030	@	Thermo Electron Corp.		53,272
240	@	Waters Corp.		14,246
				121,205
Entertainment: 0.1%
580		International Game Technology		23,026
				23,026
Environmental Control: 0.2%
1,100	@	Allied Waste Industries, Inc.		14,806
1,620		Waste Management, Inc.		63,261
				78,067
Food: 1.5%
590		Campbell Soup Co.		22,898
400	@	Dean Foods Co.		12,748
1,450		General Mills, Inc.		84,709
300		Hershey Co.		15,186
1,760		HJ Heinz Co.		83,547
500		Kellogg Co.		25,895
2,454		Kraft Foods, Inc.		86,504
1,510		Kroger Co.		42,476
980		Safeway, Inc.		33,349
300		Supervalu, Inc.		13,896
400		Sysco Corp.		13,196
340		Whole Foods Market, Inc.		13,022
300		WM Wrigley Jr. Co.		16,593
				464,019

See Accompanying Notes to Financial Statements

94

ING GET U.S. CORE PORTFOLIO SERIES 8 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Forest Products & Paper: 0.3%
1,100		International Paper Co.	$	42,955
320		Temple-Inland, Inc.		19,690
200		Weyerhaeuser Co.		15,786
				78,431
Gas: 0.2%
400		KeySpan Corp.		16,792
680		Sempra Energy		40,276
				57,068
Hand/Machine Tools: 0.2%
210		Black & Decker Corp.		18,545
400		Snap-On, Inc.		20,204
420		Stanley Works		25,494
				64,243
Healthcare - Products: 2.7%
1,790		Baxter International, Inc.		100,849
590		Becton Dickinson & Co.		43,955
500		Biomet, Inc.		22,860
2,460	@	Boston Scientific Corp.		37,736
300		CR Bard, Inc.		24,789
6,450		Johnson & Johnson		397,449
2,200		Medtronic, Inc.		114,092
400	@	St. Jude Medical, Inc.		16,596
600		Stryker Corp.		37,854
300	@	Varian Medical Systems, Inc.		12,753
560	@	Zimmer Holdings, Inc.		47,538
				856,471
Healthcare - Services: 1.2%
1,100		Aetna, Inc.		54,340
500	@	Coventry Health Care, Inc.		28,825
480	@	Humana, Inc.		29,237
240	@	Laboratory Corp. of America Holdings		18,782
2,930		UnitedHealth Group, Inc.		149,840
1,270	@	WellPoint, Inc.		101,384
				382,408
Home Builders: 0.2%
500		Centex Corp.		20,050
500		KB Home		19,685
300		Lennar Corp.		10,968
				50,703
Home Furnishings: 0.1%
120		Harman International Industries, Inc.		14,016
100		Whirlpool Corp.		11,120
				25,136
Household Products/Wares: 0.3%
200		Clorox Co.		12,420
1,200		Kimberly-Clark Corp.		80,268
				92,688
Housewares: 0.1%
600		Newell Rubbermaid, Inc.		17,658
				17,658
Insurance: 5.0%
840	@@	ACE Ltd.		52,517
1,050		Aflac, Inc.		53,970

Shares			Value
1,880		Allstate Corp.	$	115,639
190		AMBAC Financial Group, Inc.		16,566
5,470		American International Group, Inc.		383,064
710		AON Corp.		30,253
300		Assurant, Inc.		17,676
1,360		Chubb Corp.		73,630
810		Cigna Corp.		42,298
1,530		Genworth Financial, Inc.		52,632
780		Hartford Financial Services Group, Inc.		76,838
504		Lincoln National Corp.		35,759
870		Loews Corp.		44,353
900		Marsh & McLennan Cos., Inc.		27,792
240		MBIA, Inc.		14,933
1,770		Metlife, Inc.		114,130
210		MGIC Investment Corp.		11,941
910		Principal Financial Group		53,044
2,210		Progressive Corp.		52,885
1,180		Prudential Financial, Inc.		114,731
320		Safeco Corp.		19,923
290		Torchmark Corp.		19,430
1,700		Travelers Cos., Inc.		90,950
600		UnumProvident Corp.		15,666
500	@@	XL Capital Ltd.		42,145
				1,572,765
Internet: 1.7%
680	@	Amazon.com, Inc.		46,519
2,340	@	eBay, Inc.		75,301
490	@	Google, Inc.		256,456
600	@	IAC/InterActiveCorp.		20,766
2,441	@	Symantec Corp.		49,308
770	@	VeriSign, Inc.		24,432
2,700	@	Yahoo!, Inc.		73,251
				546,033
Iron/Steel: 0.3%
200		Allegheny Technologies, Inc.		20,976
900		Nucor Corp.		52,785
320		United States Steel Corp.		34,800
				108,561
Leisure Time: 0.3%
1,030		Carnival Corp.		50,233
810		Harley-Davidson, Inc.		48,284
				98,517
Lodging: 0.3%
400		Harrah’s Entertainment, Inc.		34,104
400		Hilton Hotels Corp.		13,388
480		Marriott International, Inc.		20,755
340		Starwood Hotels & Resorts Worldwide, Inc.		22,804
				91,051
Machinery - Construction & Mining: 0.4%
1,540		Caterpillar, Inc.		120,582
200	@	Terex Corp.		16,260
				136,842
Machinery - Diversified: 0.4%
400		Cummins, Inc.		40,484
590		Deere & Co.		71,237

See Accompanying Notes to Financial Statements

95

ING GET U.S. CORE PORTFOLIO SERIES 8 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Machinery - Diversified: (continued)
290		Rockwell Automation, Inc.	$	20,138
				131,859
Media: 2.7%
1,640		CBS Corp. - Class B		54,645
1,020		Clear Channel Communications, Inc.		38,576
5,060	@	Comcast Corp. - Class A		142,287
2,200	@	DIRECTV Group, Inc.		50,842
600		Gannett Co., Inc.		32,970
1,080		McGraw-Hill Cos., Inc.		73,526
5,110		News Corp., Inc. - Class A		108,383
5,800		Time Warner, Inc.		122,032
1,200	@	Viacom - Class B		49,956
4,640		Walt Disney Co.		158,410
				831,627
Metal Fabricate/Hardware: 0.1%
200		Precision Castparts Corp.		24,272
				24,272
Mining: 0.5%
1,900		Alcoa, Inc.		77,007
687		Freeport-McMoRan Copper & Gold, Inc.		56,897
700		Newmont Mining Corp.		27,342
				161,246
Miscellaneous Manufacturing: 4.8%
1,690		3M Co.		146,675
540		Cooper Industries Ltd.		30,829
510		Danaher Corp.		38,505
1,110		Eastman Kodak Co.		30,891
640		Eaton Corp.		59,520
20,100		General Electric Co.		769,422
1,720		Honeywell International, Inc.		96,802
1,300		Illinois Tool Works, Inc.		70,447
540		ITT Corp.		36,871
300		Pall Corp.		13,797
540		Parker Hannifin Corp.		52,871
4,200	@	Tyco International Ltd.		141,918
				1,488,548
Office/Business Equipment: 0.2%
2,600	@	Xerox Corp.		48,048
				48,048
Oil & Gas: 8.0%
1,080		Anadarko Petroleum Corp.		56,149
300		Apache Corp.		24,477
900		Chesapeake Energy Corp.		31,140
4,877		Chevron Corp.		410,838
3,643		ConocoPhillips		285,976
930		Devon Energy Corp.		72,810
500		ENSCO International, Inc.		30,505
260		EOG Resources, Inc.		18,996
12,160		ExxonMobil Corp.		1,019,981
300		Hess Corp.		17,688
1,860		Marathon Oil Corp.		111,526
300		Murphy Oil Corp.		17,832
600	@, @@	Nabors Industries Ltd.		20,028
300		Noble Corp.		29,256
2,080		Occidental Petroleum Corp.		120,390

Shares				Value
400			Sunoco, Inc.	$	31,872
600		@	Transocean, Inc.		63,588
1,350			Valero Energy Corp.		99,711
610			XTO Energy, Inc.		36,661
					2,499,424
Oil & Gas Services: 1.3%
600			Baker Hughes, Inc.		50,478
2,400			Halliburton Co.		82,800
600		@	National Oilwell Varco, Inc.		62,544
2,370			Schlumberger Ltd.		201,308
400	��	@	Weatherford International Ltd.		22,096
					419,226
Packaging & Containers: 0.3%
290			Ball Corp.		15,419
400			Bemis Co.		13,272
890		@	Pactiv Corp.		28,382
800			Sealed Air Corp.		24,816
					81,889
Pharmaceuticals: 4.9%
2,720			Abbott Laboratories		145,656
640			AmerisourceBergen Corp.		31,661
320		@	Barr Pharmaceuticals, Inc.		16,074
4,000			Bristol-Myers Squibb Co.		126,240
670			Cardinal Health, Inc.		47,329
1,900			Eli Lilly & Co.		106,172
420		@	Express Scripts, Inc.		21,004
860		@	Forest Laboratories, Inc.		39,259
1,900		@	Gilead Sciences, Inc.		73,663
730		@	King Pharmaceuticals, Inc.		14,936
600		@	Medco Health Solutions, Inc.		46,794
4,400			Merck & Co., Inc.		219,120
960			Mylan Laboratories		17,462
14,630			Pfizer, Inc.		374,089
3,250			Schering-Plough Corp.		98,930
500		@	Watson Pharmaceuticals, Inc.		16,265
2,460			Wyeth		141,056
					1,535,710
Pipelines: 0.4%
1,500			El Paso Corp.		25,845
400			Questar Corp.		21,140
1,100			Spectra Energy Corp.		28,556
1,220			Williams Cos., Inc.		38,576
					114,117
Real Estate Investment Trusts: 0.7%
220			Apartment Investment & Management Co.		11,092
420			Archstone-Smith Trust		24,826
300			Boston Properties, Inc.		30,639
350			Developers Diversified Realty Corp.		18,449
300			Equity Residential		13,689
800			Host Hotels & Resorts, Inc.		18,496
300			Kimco Realty Corp.		11,421
600			Prologis		34,140
400			Simon Property Group, Inc.		37,216
200			Vornado Realty Trust		21,968
					221,936
Retail: 5.1%
300		@	Autozone, Inc.		40,986
400		@	Bed Bath & Beyond, Inc.		14,396

See Accompanying Notes to Financial Statements

96

ING GET U.S. CORE PORTFOLIO SERIES 8 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail: (continued)
1,040		Best Buy Co., Inc.	$	48,537
600	@	Big Lots, Inc.		17,652
1,120		Costco Wholesale Corp.		65,542
2,483		CVS Corp.		90,505
410		Darden Restaurants, Inc.		18,036
600		Dollar General Corp.		13,152
740		Family Dollar Stores, Inc.		25,397
1,520		Gap, Inc.		29,032
3,610		Home Depot, Inc.		142,054
610		JC Penney Co., Inc.		44,152
580	@	Kohl’s Corp.		41,197
3,120		Lowe’s Cos., Inc.		95,753
1,480		Macy’s, Inc.		58,874
2,940		McDonald’s Corp.		149,234
760		Nordstrom, Inc.		38,851
480	@	Office Depot, Inc.		14,544
600		RadioShack Corp.		19,884
210	@	Sears Holding Corp.		35,595
1,260		Staples, Inc.		29,900
1,560	@	Starbucks Corp.		40,934
1,780		Target Corp.		113,208
1,320		TJX Cos., Inc.		36,300
1,780		Walgreen Co.		77,501
4,750		Wal-Mart Stores, Inc.		228,523
600		Wendy’s International, Inc.		22,050
1,260		Yum! Brands, Inc.		41,227
				1,593,016
Savings & Loans: 0.4%
1,200		Hudson City Bancorp., Inc.		14,664
700		Sovereign Bancorp., Inc.		14,798
2,180		Washington Mutual, Inc.		92,955
				122,417
Semiconductors: 2.4%
1,040	@	Advanced Micro Devices, Inc.		14,872
1,030		Altera Corp.		22,794
630		Analog Devices, Inc.		23,713
1,840		Applied Materials, Inc.		36,561
800	@	Broadcom Corp.		23,400
12,070		Intel Corp.		286,783
700		KLA-Tencor Corp.		38,465
700		Linear Technology Corp.		25,326
1,400	@	LSI Logic Corp.		10,514
660		Maxim Integrated Products		22,051
500	@	MEMC Electronic Materials, Inc.		30,560
1,390	@	Micron Technology, Inc.		17,417
720		National Semiconductor Corp.		20,354
650	@	Novellus Systems, Inc.		18,441
750	@	Nvidia Corp.		30,983
900	@	Teradyne, Inc.		15,822
2,700		Texas Instruments, Inc.		101,601
810		Xilinx, Inc.		21,684
				761,341
Software: 3.4%
1,140	@	Adobe Systems, Inc.		45,771
620	@	Autodesk, Inc.		29,190
1,320		Automatic Data Processing, Inc.		63,980
610	@	BMC Software, Inc.		18,483
1,600		CA, Inc.		41,328
700	@	Citrix Systems, Inc.		23,569
1,910	@	Compuware Corp.		22,653

Shares				Value
	610	@	Electronic Arts, Inc.	$	28,865
	1,610		First Data Corp.		52,599
	540	@	Fiserv, Inc.		30,672
	1,080	@	Intuit, Inc.		32,486
	16,700		Microsoft Corp.		492,149
	1,800	@	Novell, Inc.		14,022
	7,490	@	Oracle Corp.		147,628
	830		Paychex, Inc.		32,470
					1,075,865
	Telecommunications: 5.7%
	600	@@	Allergan, Inc.		34,584
	600		Alltel Corp.		40,530
	12,556		AT&T, Inc.		521,074
	1,140	@	Avaya, Inc.		19,198
	640		CenturyTel, Inc.		31,392
	12,670	@	Cisco Systems, Inc.		352,860
	1,530		Citizens Communications Co.		23,363
	3,170	@	Corning, Inc.		80,994
	477		Embarq Corp.		30,227
	1,300	@	Juniper Networks, Inc.		32,721
	4,720		Motorola, Inc.		83,544
	3,340		Qualcomm, Inc.		144,923
	3,600	@	Qwest Communications International, Inc.		34,920
	5,323		Sprint Nextel Corp.		110,239
	1,400	@	Tellabs, Inc.		15,064
	5,260		Verizon Communications, Inc.		216,554
					1,772,187
	Toys/Games/Hobbies: 0.2%
	600		Hasbro, Inc.		18,846
	1,230		Mattel, Inc.		31,107
					49,953
	Transportation: 1.3%
	530		Burlington Northern Santa Fe Corp.		45,124
	300		CH Robinson Worldwide, Inc.		15,756
	880		CSX Corp.		39,670
	670		FedEx Corp.		74,350
	890		Norfolk Southern Corp.		46,787
	570		Union Pacific Corp.		65,636
	1,800		United Parcel Service, Inc.		131,400
					418,723
			Total Common Stock (Cost $25,994,625)		28,103,730
Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 2.1%
	Other U.S. Agency Obligations: 2.1%
$	821,000	Z	Financing Corp., 5.580%, due 03/26/12	$	647,404
			Total U.S. Government Agency Obligations (Cost $647,778)		647,404

See Accompanying Notes to Financial Statements

97

ING GET U.S. CORE PORTFOLIO SERIES 8 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount				Value
	U.S. TREASURY OBLIGATIONS: 7.6%
	U.S. Treasury STRIP: 7.6%
$	3,053,000	^	4.850%, due 08/15/12	$	2,387,614
			Total U.S. Treasury Obligations (Cost $2,381,867)		2,387,614
			Total Long-Term Investments (Cost $29,024,270)		31,138,748
Shares
	SHORT-TERM INVESTMENTS: 0.8%
	Mutual Fund: 0.2%
	74,000	**	ING Institutional Prime Money Market Fund		74,000
			Total Mutual Fund (Cost $74,000)		74,000

Principal Amount
	Repurchase Agreement: 0.6%
$	171,000	Goldman Sachs Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $171,076 to be received upon repurchase (Collateralized by $174,000 Federal National Mortgage Association, 5.600%, Market Value plus accrued interest $174,743, due 02/01/17)				171,000
		Total Repurchase Agreement (Cost $171,000)				171,000
		Total Short-Term Investments (Cost $245,000)				245,000
		Total Investments in Securities (Cost $29,269,270)*	100.2	%	$	31,383,748
		Other Assets and Liabilities - Net	(0.2	)		(59,385	)
		Net Assets	100.0	%	$	31,324,363

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

Z Indicates Zero Coupon Bond; rate shown reflects effective yield on the date of purchase

* Cost for federal income tax purposes is $29,600,175.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	2,178,472
Gross Unrealized Depreciation		(394,899	)
Net Unrealized Appreciation	$	1,783,573

See Accompanying Notes to Financial Statements

98

ING GET U.S. CORE PORTFOLIO SERIES 9 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
COMMON STOCK: 84.5%
Advertising: 0.2%
720		Omnicom Group	$	38,102
				38,102
Aerospace/Defense: 1.8%
1,050		Boeing Co.		100,968
520		General Dynamics Corp.		40,674
200		Goodrich Corp.		11,912
260		L-3 Communications Holdings, Inc.		25,321
580		Lockheed Martin Corp.		54,595
500		Northrop Grumman Corp.		38,935
1,160		Raytheon Co.		62,512
1,490		United Technologies Corp.		105,686
				440,603
Agriculture: 1.2%
3,030		Altria Group, Inc.		212,524
1,000		Archer-Daniels-Midland Co.		33,090
380		Reynolds American, Inc.		24,776
500		UST, Inc.		26,855
				297,245
Apparel: 0.4%
800	@	Coach, Inc.		37,912
540		Nike, Inc.		31,477
200		Polo Ralph Lauren Corp.		19,622
				89,011
Auto Manufacturers: 0.5%
3,520		Ford Motor Co.		33,158
900		General Motors Corp.		34,020
525		Paccar, Inc.		45,696
				112,874

Shares			Value
Auto Parts & Equipment: 0.2%
400	@	Goodyear Tire & Rubber Co.	$	13,904
370		Johnson Controls, Inc.		42,835
				56,739
Banks: 5.4%
6,647		Bank of America Corp.		324,972
1,320	@	Bank of New York Co., Inc.		54,701
940		BB&T Corp.		38,239
532		Capital One Financial Corp.		41,730
490		Comerica, Inc.		29,140
200		Compass Bancshares, Inc.		13,796
500		Fifth Third Bancorp.		19,885
1,870		Huntington Bancshares, Inc.		42,524
1,630		Keycorp.		55,958
300		Marshall & Ilsley Corp.		14,289
1,020		Mellon Financial Corp.		44,880
1,000		National City Corp.		33,320
300		Northern Trust Corp.		19,272
490		PNC Financial Services Group, Inc.		35,074
1,569		Regions Financial Corp.		51,934
490		State Street Corp.		33,516
460		SunTrust Banks, Inc.		39,440
1,610		US Bancorp.		53,050
3,021		Wachovia Corp.		154,826
5,160		Wells Fargo & Co.		181,477
				1,282,023
Beverages: 1.6%
930		Anheuser-Busch Cos., Inc.		48,509
2,810		Coca-Cola Co.		146,991
740		Pepsi Bottling Group, Inc.		24,923
2,370		PepsiCo, Inc.		153,695
				374,118
Biotechnology: 0.7%
1,500	@	Amgen, Inc.		82,935
530	@	Biogen Idec, Inc.		28,355
500	@	Celgene Corp.		28,665
510	@	Genzyme Corp.		32,844
				172,799
Building Materials: 0.2%
300		American Standard Cos., Inc.		17,694
1,180		Masco Corp.		33,595
				51,289
Chemicals: 1.5%
170		Air Products & Chemicals, Inc.		13,663
400		Ashland, Inc.		25,580
1,390		Dow Chemical Co.		61,466
400		Ecolab, Inc.		17,080
1,100		EI DuPont de Nemours & Co.		55,924
520		International Flavors & Fragrances, Inc.		27,113
820		Monsanto Co.		55,383
500		PPG Industries, Inc.		38,055
300		Praxair, Inc.		21,597
380		Sherwin-Williams Co.		25,259
700		Sigma-Aldrich Corp.		29,869
				370,989

See Accompanying Notes to Financial Statements

99

ING GET U.S. CORE PORTFOLIO SERIES 9 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Coal: 0.1%
200		Consol Energy, Inc.	$	9,222
540		Peabody Energy Corp.		26,125
				35,347
Commercial Services: 0.7%
200	@	Apollo Group, Inc.		11,686
800	@	Convergys Corp.		19,392
390		Equifax, Inc.		17,324
540		McKesson Corp.		32,206
420		Moody’s Corp.		26,124
300		Robert Half International, Inc.		10,950
500		RR Donnelley & Sons Co.		21,755
1,290		Western Union Co.		26,871
				166,308
Computers: 3.8%
200	@	Affiliated Computer Services, Inc.		11,344
1,300	@	Apple, Inc.		158,652
200	@	Cognizant Technology Solutions Corp.		15,018
410	@	Computer Sciences Corp.		24,252
3,590	@	Dell, Inc.		102,495
1,180		Electronic Data Systems Corp.		32,721
3,760	@	EMC Corp.		68,056
3,910		Hewlett-Packard Co.		174,464
2,060		International Business Machines Corp.		216,815
280	@	Lexmark International, Inc.		13,807
310	@	NCR Corp.		16,287
860	@	Network Appliance, Inc.		25,112
450	@	Sandisk Corp.		22,023
6,100	@	Sun Microsystems, Inc.		32,086
				913,132
Cosmetics/Personal Care: 1.6%
700		Avon Products, Inc.		25,725
640		Colgate-Palmolive Co.		41,504
400		Estee Lauder Cos., Inc.		18,204
4,764		Procter & Gamble Co.		291,509
				376,942
Distribution/Wholesale: 0.1%
290		WW Grainger, Inc.		26,985
				26,985
Diversified Financial Services: 6.7%
1,480		American Express Co.		90,546
466		Ameriprise Financial, Inc.		29,624
200		Bear Stearns Cos., Inc.		28,000
1,950		Charles Schwab Corp.		40,014
70		Chicago Mercantile Exchange Holdings, Inc.		37,405
450		CIT Group, Inc.		24,674
6,770		Citigroup, Inc.		347,233
1,010		Countrywide Financial Corp.		36,714
530	@	E*Trade Financial Corp.		11,708
1,370		Fannie Mae		89,502
290		Franklin Resources, Inc.		38,416
950		Freddie Mac		57,665
600		Goldman Sachs Group, Inc.		130,050
500		Janus Capital Group, Inc.		13,920
5,350		JP Morgan Chase & Co.		259,208
200		Legg Mason, Inc.		19,676
800		Lehman Brothers Holdings, Inc.		59,616
1,410		Merrill Lynch & Co., Inc.		117,848

Shares			Value
1,550		Morgan Stanley	$	130,014
540		SLM Corp.		31,093
300		T. Rowe Price Group, Inc.		15,567
				1,608,493
Electric: 2.7%
730	@	AES Corp.		15,972
460		American Electric Power Co., Inc.		20,718
700		CMS Energy Corp.		12,040
500		Constellation Energy Group, Inc.		43,585
500		Dominion Resources, Inc.		43,155
800		DTE Energy Co.		38,576
700		Duke Energy Corp.		12,810
990		Edison International		55,559
600		Entergy Corp.		64,410
1,050		Exelon Corp.		76,230
750		FirstEnergy Corp.		48,548
1,000		FPL Group, Inc.		56,740
1,020		PG&E Corp.		46,206
300		PPL Corp.		14,037
490		Public Service Enterprise Group, Inc.		43,012
700		TECO Energy, Inc.		12,026
590		TXU Corp.		39,707
				643,331
Electrical Components & Equipment: 0.2%
980		Emerson Electric Co.		45,864
				45,864
Electronics: 0.4%
620	@	Agilent Technologies, Inc.		23,833
600		Tektronix, Inc.		20,244
660	@	Thermo Electron Corp.		34,135
210	@	Waters Corp.		12,466
				90,678
Engineering & Construction: 0.0%
100		Fluor Corp.		11,137
				11,137
Entertainment: 0.1%
500		International Game Technology		19,850
				19,850
Environmental Control: 0.3%
800	@	Allied Waste Industries, Inc.		10,768
1,320		Waste Management, Inc.		51,546
				62,314
Food: 1.5%
630		Campbell Soup Co.		24,450
300	@	Dean Foods Co.		9,561
980		General Mills, Inc.		57,252
200		Hershey Co.		10,124
1,230		HJ Heinz Co.		58,388
400		Kellogg Co.		20,716
1,550		Kraft Foods, Inc.		54,638
1,380		Kroger Co.		38,819
850		Safeway, Inc.		28,926
200		Supervalu, Inc.		9,264
500		Sysco Corp.		16,495
300		Whole Foods Market, Inc.		11,490
200		WM Wrigley Jr. Co.		11,062
				351,185

See Accompanying Notes to Financial Statements

100

ING GET U.S. CORE PORTFOLIO SERIES 9 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Forest Products & Paper: 0.3%
900		International Paper Co.	$	35,145
190		Temple-Inland, Inc.		11,691
200		Weyerhaeuser Co.		15,786
				62,622
Gas: 0.2%
300		KeySpan Corp.		12,594
530		Sempra Energy		31,392
				43,986
Hand/Machine Tools: 0.2%
210		Black & Decker Corp.		18,545
300		Snap-On, Inc.		15,153
390		Stanley Works		23,673
				57,371
Healthcare - Products: 2.5%
1,040		Baxter International, Inc.		58,594
370		Becton Dickinson & Co.		27,565
500		Biomet, Inc.		22,860
2,000	@	Boston Scientific Corp.		30,680
300		CR Bard, Inc.		24,789
4,460		Johnson & Johnson		274,825
1,500		Medtronic, Inc.		77,790
500	@	St. Jude Medical, Inc.		20,745
500		Stryker Corp.		31,545
200	@	Varian Medical Systems, Inc.		8,502
400	@	Zimmer Holdings, Inc.		33,956
				611,851
Healthcare - Services: 1.1%
860		Aetna, Inc.		42,484
355	@	Coventry Health Care, Inc.		20,466
430	@	Humana, Inc.		26,191
200	@	Laboratory Corp. of America Holdings		15,652
1,880		UnitedHealth Group, Inc.		96,143
750	@	WellPoint, Inc.		59,873
				260,809
Home Builders: 0.2%
400		Centex Corp.		16,040
400		KB Home		15,748
300		Lennar Corp.		10,968
				42,756
Home Furnishings: 0.1%
100		Harman International Industries, Inc.		11,680
80		Whirlpool Corp.		8,896
				20,576
Household Products/Wares: 0.3%
200		Clorox Co.		12,420
780		Kimberly-Clark Corp.		52,174
				64,594
Housewares: 0.1%
500		Newell Rubbermaid, Inc.		14,715
				14,715
Insurance: 4.6%
460	@@	ACE Ltd.		28,759
670		Aflac, Inc.		34,438
1,090		Allstate Corp.		67,046

Shares			Value
120		AMBAC Financial Group, Inc.	$	10,463
3,760		American International Group, Inc.		263,313
720		AON Corp.		30,679
300		Assurant, Inc.		17,676
890		Chubb Corp.		48,185
450		Cigna Corp.		23,499
1,000		Genworth Financial, Inc.		34,400
520		Hartford Financial Services Group, Inc.		51,225
449		Lincoln National Corp.		31,857
510		Loews Corp.		26,000
900		Marsh & McLennan Cos., Inc.		27,792
250		MBIA, Inc.		15,555
1,390		Metlife, Inc.		89,627
230		MGIC Investment Corp.		13,078
510		Principal Financial Group		29,728
1,620		Progressive Corp.		38,767
730		Prudential Financial, Inc.		70,978
230		Safeco Corp.		14,320
230		Torchmark Corp.		15,410
1,160		Travelers Cos., Inc.		62,060
500		UnumProvident Corp.		13,055
400	@@	XL Capital Ltd.		33,716
				1,091,626
Internet: 1.7%
500	@	Amazon.com, Inc.		34,205
1,570	@	eBay, Inc.		50,523
400	@	Google, Inc.		209,352
400	@	IAC/InterActiveCorp.		13,844
2,170	@	Symantec Corp.		43,834
500	@	VeriSign, Inc.		15,865
1,700	@	Yahoo!, Inc.		46,121
				413,744
Iron/Steel: 0.3%
200		Allegheny Technologies, Inc.		20,976
460		Nucor Corp.		26,979
240		United States Steel Corp.		26,100
				74,055
Leisure Time: 0.3%
730		Carnival Corp.		35,602
490		Harley-Davidson, Inc.		29,209
				64,811
Lodging: 0.3%
400		Harrah’s Entertainment, Inc.		34,104
400		Hilton Hotels Corp.		13,388
380		Marriott International, Inc.		16,431
230		Starwood Hotels & Resorts Worldwide, Inc.		15,426
				79,349
Machinery - Construction & Mining: 0.4%
1,000		Caterpillar, Inc.		78,300
200	@	Terex Corp.		16,260
				94,560
Machinery - Diversified: 0.4%
280		Cummins, Inc.		28,339
500		Deere & Co.		60,370
290		Rockwell Automation, Inc.		20,138
				108,847

See Accompanying Notes to Financial Statements

101

ING GET U.S. CORE PORTFOLIO SERIES 9 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Media: 2.5%
1,030		CBS Corp. - Class B	$	34,320
860		Clear Channel Communications, Inc.		32,525
3,200	@	Comcast Corp. – Class A		89,984
1,400	@	DIRECTV Group, Inc.		32,354
500		Gannett Co., Inc.		27,475
720		McGraw-Hill Cos., Inc.		49,018
3,700		News Corp., Inc. - Class A		78,477
3,800		Time Warner, Inc.		79,952
1,000	@	Viacom - Class B		41,630
3,770		Walt Disney Co.		128,708
				594,443
Metal Fabricate/Hardware: 0.0%
100		Precision Castparts Corp.		12,136
				12,136
Mining: 0.5%
1,500		Alcoa, Inc.		60,795
521		Freeport-McMoRan Copper & Gold, Inc.		43,149
500		Newmont Mining Corp.		19,530
				123,474
Miscellaneous Manufacturing: 4.4%
1,190		3M Co.		103,280
500		Cooper Industries Ltd.		28,545
420		Danaher Corp.		31,710
700		Eastman Kodak Co.		19,481
490		Eaton Corp.		45,570
13,710		General Electric Co.		524,805
1,150		Honeywell International, Inc.		64,722
700		Illinois Tool Works, Inc.		37,933
470		ITT Corp.		32,092
200		Pall Corp.		9,198
380		Parker Hannifin Corp.		37,206
100		Textron, Inc.		11,011
3,000	@	Tyco International Ltd.		101,370
				1,046,923
Office/Business Equipment: 0.1%
1,600	@	Xerox Corp.		29,568
				29,568
Oil & Gas: 7.3%
580		Anadarko Petroleum Corp.		30,154
200		Apache Corp.		16,318
600		Chesapeake Energy Corp.		20,760
3,430		Chevron Corp.		288,943
2,559		ConocoPhillips		200,882
520		Devon Energy Corp.		40,711
300		ENSCO International, Inc.		18,303
250		EOG Resources, Inc.		18,265
8,330		ExxonMobil Corp.		698,720
300		Hess Corp.		17,688
1,440		Marathon Oil Corp.		86,342
200		Murphy Oil Corp.		11,888
600	@, @@	Nabors Industries Ltd.		20,028
200		Noble Corp.		19,504
1,420		Occidental Petroleum Corp.		82,190
300		Sunoco, Inc.		23,904
500	@	Transocean, Inc.		52,990

Shares			Value
830		Valero Energy Corp.	$	61,304
500		XTO Energy, Inc.		30,050
				1,738,944
Oil & Gas Services: 1.2%
500		Baker Hughes, Inc.		42,065
1,680		Halliburton Co.		57,960
400	@	National Oilwell Varco, Inc.		41,696
1,550		Schlumberger Ltd.		131,657
200	@	Weatherford International Ltd.		11,048
				284,426
Packaging & Containers: 0.3%
280		Ball Corp.		14,888
400		Bemis Co.		13,272
800	@	Pactiv Corp.		25,512
700		Sealed Air Corp.		21,714
				75,386
Pharmaceuticals: 4.4%
1,740		Abbott Laboratories		93,177
500		AmerisourceBergen Corp.		24,735
200	@	Barr Pharmaceuticals, Inc.		10,046
2,500		Bristol-Myers Squibb Co.		78,900
500		Cardinal Health, Inc.		35,320
1,300		Eli Lilly & Co.		72,644
420	@	Express Scripts, Inc.		21,004
560	@	Forest Laboratories, Inc.		25,564
1,120	@	Gilead Sciences, Inc.		43,422
670	@	King Pharmaceuticals, Inc.		13,708
500	@	Medco Health Solutions, Inc.		38,995
2,930		Merck & Co., Inc.		145,914
740		Mylan Laboratories		13,461
10,040		Pfizer, Inc.		256,723
2,150		Schering-Plough Corp.		65,446
400	@	Watson Pharmaceuticals, Inc.		13,012
1,790		Wyeth		102,639
				1,054,710
Pipelines: 0.4%
1,200		El Paso Corp.		20,676
400		Questar Corp.		21,140
1,000		Spectra Energy Corp.		25,960
1,150		Williams Cos., Inc.		36,363
				104,139
Real Estate Investment Trusts: 0.8%
210		Apartment Investment & Management Co.		10,588
340		Archstone-Smith Trust		20,097
300		Boston Properties, Inc.		30,639
300		Developers Diversified Realty Corp.		15,813
200		Equity Residential		9,126
500		Host Hotels & Resorts, Inc.		11,560
300		Kimco Realty Corp.		11,421
500		Prologis		28,450
300		Simon Property Group, Inc.		27,912
200		Vornado Realty Trust		21,968
				187,574
Retail: 4.9%
280	@	Autozone, Inc.		38,254
300	@	Bed Bath & Beyond, Inc.		10,797
770		Best Buy Co., Inc.		35,936

See Accompanying Notes to Financial Statements

102

ING GET U.S. CORE PORTFOLIO SERIES 9 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail (continued)
350	@	Big Lots, Inc.	$	10,297
670		Costco Wholesale Corp.		39,208
1,885		CVS Corp.		68,708
430		Darden Restaurants, Inc.		18,916
500		Dollar General Corp.		10,960
590		Family Dollar Stores, Inc.		20,249
1,250		Gap, Inc.		23,875
2,520		Home Depot, Inc.		99,162
450		JC Penney Co., Inc.		32,571
460	@	Kohl’s Corp.		32,674
2,310		Lowe’s Cos., Inc.		70,894
1,200		Macy’s, Inc.		47,736
1,970		McDonald’s Corp.		99,997
430		Nordstrom, Inc.		21,982
430	@	Office Depot, Inc.		13,029
500		RadioShack Corp.		16,570
150	@	Sears Holding Corp.		25,425
1,060		Staples, Inc.		25,154
1,290	@	Starbucks Corp.		33,850
1,180		Target Corp.		75,048
1,010		TJX Cos., Inc.		27,775
1,490		Walgreen Co.		64,875
3,240		Wal-Mart Stores, Inc.		155,876
400		Wendy’s International, Inc.		14,700
900		Yum! Brands, Inc.		29,448
				1,163,966
Savings & Loans: 0.4%
1,000		Hudson City Bancorp., Inc.		12,220
500		Sovereign Bancorp., Inc.		10,570
1,586		Washington Mutual, Inc.		67,627
				90,417
Semiconductors: 2.3%
900	@	Advanced Micro Devices, Inc.		12,870
820		Altera Corp.		18,147
430		Analog Devices, Inc.		16,185
1,380		Applied Materials, Inc.		27,421
700	@	Broadcom Corp.		20,475
8,300		Intel Corp.		197,208
500		KLA-Tencor Corp.		27,475
600		Linear Technology Corp.		21,708
1,200	@	LSI Logic Corp.		9,012
540		Maxim Integrated Products		18,041
400	@	MEMC Electronic Materials, Inc.		24,448
1,250	@	Micron Technology, Inc.		15,663
520		National Semiconductor Corp.		14,700
500	@	Novellus Systems, Inc.		14,185
540	@	Nvidia Corp.		22,307
800	@	Teradyne, Inc.		14,064
1,600		Texas Instruments, Inc.		60,208
500		Xilinx, Inc.		13,385
				547,502
Software: 3.4%
1,110	@	Adobe Systems, Inc.		44,567
510	@	Autodesk, Inc.		24,011
950		Automatic Data Processing, Inc.		46,047
710	@	BMC Software, Inc.		21,513
1,390		CA, Inc.		35,904
600	@	Citrix Systems, Inc.		20,202
1,530	@	Compuware Corp.		18,146
430	@	Electronic Arts, Inc.		20,348

Shares				Value
	1,390		First Data Corp.	$	45,411
	330	@	Fiserv, Inc.		18,744
	950	@	Intuit, Inc.		28,576
	11,540		Microsoft Corp.		340,084
	1,400	@	Novell, Inc.		10,906
	5,470	@	Oracle Corp.		107,814
	670		Paychex, Inc.		26,210
					808,483
	Telecommunications: 5.2%
	400	@@	Allergan, Inc.		23,056
	500		Alltel Corp.		33,775
	8,593		AT&T, Inc.		356,610
	880	@	Avaya, Inc.		14,819
	470		CenturyTel, Inc.		23,054
	8,750	@	Cisco Systems, Inc.		243,688
	1,300		Citizens Communications Co.		19,851
	2,320	@	Corning, Inc.		59,276
	342		Embarq Corp.		21,673
	1,000	@	Juniper Networks, Inc.		25,170
	3,370		Motorola, Inc.		59,649
	2,250		Qualcomm, Inc.		97,628
	2,700	@	Qwest Communications International, Inc.		26,190
	3,990		Sprint Nextel Corp.		82,633
	1,200	@	Tellabs, Inc.		12,912
	3,640		Verizon Communications, Inc.		149,859
					1,249,843
	Toys/Games/Hobbies: 0.2%
	500		Hasbro, Inc.		15,705
	1,120		Mattel, Inc.		28,325
					44,030
	Transportation: 1.3%
	520		Burlington Northern Santa Fe Corp.		44,273
	300		CH Robinson Worldwide, Inc.		15,756
	620		CSX Corp.		27,950
	470		FedEx Corp.		52,156
	480		Norfolk Southern Corp.		25,234
	460		Union Pacific Corp.		52,969
	1,400		United Parcel Service, Inc.		102,200
					320,538
			Total Common Stock (Cost $18,879,766 )		20,220,132
Principal Amount
	U.S. TREASURY OBLIGATIONS: 14.6%
	U.S. Treasury STRIP: 14.6%
$	4,470,000	^	4.850%, due 08/15/12	$	3,495,786
			Total U.S. Treasury Obligations (Cost $3,482,895 )		3,495,786
			Total Long-Term Investments (Cost $22,362,661)		23,715,918
Shares
	SHORT-TERM INVESTMENTS: 0.8%
	Mutual Fund: 0.0%
	10,000	**	ING Institutional Prime Money Market Fund		10,000
			Total Mutual Fund (Cost $10,000)		10,000

See Accompanying Notes to Financial Statements

103

ING GET U.S. CORE PORTFOLIO SERIES 9 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount					Value
	Repurchase Agreement: 0.8%
$	187,000	Goldman Sachs Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $187,083 to be received upon repurchase (Collateralized by $190,000 Federal National Mortgage Association, 5.600%, Market Value plus accrued interest $190,812, due 02/01/17)			$	187,000
		Total Repurchase Agreement (Cost $187,000)				187,000
		Total Short-Term Investments (Cost $197,000)				197,000
		Total Investments in Securities (Cost $22,559,661)*	99.9	%	$	23,912,918
		Other Assets and Liabilities—Net	0.1			17,446
		Net Assets	100.0	%	$	23,930,364

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

* Cost for federal income tax purposes is $22,870,885.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	1,349,349
Gross Unrealized Depreciation		(307,316	)
Net Unrealized Appreciation	$	1,042,033

See Accompanying Notes to Financial Statements

104

ING GET U.S. CORE PORTFOLIO SERIES 10 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 83.6%
Advertising: 0.2%
960		Omnicom Group	$	50,803
				50,803
Aerospace/Defense: 2.0%
1,100		Boeing Co.		105,776
940		General Dynamics Corp.		73,527
200		Goodrich Corp.		11,912
250		L-3 Communications Holdings, Inc.		24,348
730		Lockheed Martin Corp.		68,715
490		Northrop Grumman Corp.		38,156
1,240		Raytheon Co.		66,824
1,730		United Technologies Corp.		122,709
				511,967
Agriculture: 1.3%
3,400		Altria Group, Inc.		238,476
990		Archer-Daniels-Midland Co.		32,759
540		Reynolds American, Inc.		35,208
480		UST, Inc.		25,781
				332,224
Apparel: 0.4%
970	@	Coach, Inc.		45,968
880		Nike, Inc.		51,295
200		Polo Ralph Lauren Corp.		19,622
				116,885

Shares			Value
Auto Manufacturers: 0.4%
3,560		Ford Motor Co.	$	33,535
840		General Motors Corp.		31,752
530		Paccar, Inc.		46,131
				111,418
Auto Parts & Equipment: 0.2%
300	@	Goodyear Tire & Rubber Co.		10,428
380		Johnson Controls, Inc.		43,993
				54,421
Banks: 5.1%
7,222		Bank of America Corp.		353,084
1,240	@	Bank of New York Co., Inc.		51,386
800		BB&T Corp.		32,544
563		Capital One Financial Corp.		44,162
480		Comerica, Inc.		28,546
200		Compass Bancshares, Inc.		13,796
460		Fifth Third Bancorp.		18,294
1,690		Huntington Bancshares, Inc.		38,431
1,400		Keycorp.		48,062
300		Marshall & Ilsley Corp.		14,289
930		Mellon Financial Corp.		40,920
1,200		National City Corp.		39,984
200		Northern Trust Corp.		12,848
420		PNC Financial Services Group, Inc.		30,064
2,060		Regions Financial Corp.		68,186
580		State Street Corp.		39,672
390		SunTrust Banks, Inc.		33,439
1,870		US Bancorp.		61,617
3,249		Wachovia Corp.		166,511
5,820		Wells Fargo & Co.		204,689
				1,340,524
Beverages: 1.6%
1,070		Anheuser-Busch Cos., Inc.		55,811
3,050		Coca-Cola Co.		159,546
780		Pepsi Bottling Group, Inc.		26,270
2,560		PepsiCo, Inc.		166,016
				407,643
Biotechnology: 0.7%
1,650	@	Amgen, Inc.		91,229
520	@	Biogen Idec, Inc.		27,820
550	@	Celgene Corp.		31,532
540	@	Genzyme Corp.		34,776
				185,357
Building Materials: 0.2%
200		American Standard Cos., Inc.		11,796
1,230		Masco Corp.		35,018
				46,814
Chemicals: 1.5%
160		Air Products & Chemicals, Inc.		12,859
300		Ashland, Inc.		19,185
1,430		Dow Chemical Co.		63,235
300		Ecolab, Inc.		12,810
1,250		EI DuPont de Nemours & Co.		63,550
500		International Flavors & Fragrances, Inc.		26,070
1,020		Monsanto Co.		68,891
500		PPG Industries, Inc.		38,055
300		Praxair, Inc.		21,597

See Accompanying Notes to Financial Statements

105

ING GET U.S. CORE PORTFOLIO SERIES 10 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Chemicals: (continued)
300		Sherwin-Williams Co.	$	19,941
800		Sigma-Aldrich Corp.		34,136
				380,329
Coal: 0.1%
200		Consol Energy, Inc.		9,222
360		Peabody Energy Corp.		17,417
				26,639
Commercial Services: 0.6%
290	@	Apollo Group, Inc.		16,945
610	@	Convergys Corp.		14,786
280		Equifax, Inc.		12,438
500		McKesson Corp.		29,820
390		Moody’s Corp.		24,258
310		Robert Half International, Inc.		11,315
500		RR Donnelley & Sons Co.		21,755
1,140		Western Union Co.		23,746
				155,063
Computers: 3.8%
200	@	Affiliated Computer Services, Inc.		11,344
1,400	@	Apple, Inc.		170,856
140	@	Cognizant Technology Solutions Corp.		10,513
340	@	Computer Sciences Corp.		20,111
4,070	@	Dell, Inc.		116,199
1,110		Electronic Data Systems Corp.		30,780
4,240	@	EMC Corp.		76,744
4,530		Hewlett-Packard Co.		202,129
2,280		International Business Machines Corp.		239,970
280	@	Lexmark International, Inc.		13,807
380	@	NCR Corp.		19,965
690	@	Network Appliance, Inc.		20,148
430	@	Sandisk Corp.		21,044
5,420	@	Sun Microsystems, Inc.		28,509
				982,119
Cosmetics/Personal Care: 1.6%
440		Avon Products, Inc.		16,170
950		Colgate-Palmolive Co.		61,608
280		Estee Lauder Cos., Inc.		12,743
5,320		Procter & Gamble Co.		325,531
				416,052
Distribution/Wholesale: 0.1%
210		WW Grainger, Inc.		19,541
				19,541
Diversified Financial Services: 6.7%
1,800		American Express Co.		110,124
490		Ameriprise Financial, Inc.		31,149
200		Bear Stearns Cos., Inc.		28,000
1,710		Charles Schwab Corp.		35,089
60		Chicago Mercantile Exchange Holdings, Inc.		32,062
380		CIT Group, Inc.		20,835
7,530		Citigroup, Inc.		386,214
1,060		Countrywide Financial Corp.		38,531
630	@	E*Trade Financial Corp.		13,917
1,420		Fannie Mae		92,769
310		Franklin Resources, Inc.		41,066
1,190		Freddie Mac		72,233
660		Goldman Sachs Group, Inc.		143,055
380		Janus Capital Group, Inc.		10,579

Shares			Value
5,980		JP Morgan Chase & Co.	$	289,731
200		Legg Mason, Inc.		19,676
1,020		Lehman Brothers Holdings, Inc.		76,010
1,420		Merrill Lynch & Co., Inc.		118,684
1,880		Morgan Stanley		157,694
600		SLM Corp.		34,548
200		T. Rowe Price Group, Inc.		10,378
				1,762,344
Electric: 2.9%
1,070	@	AES Corp.		23,412
480		American Electric Power Co., Inc.		21,619
700		CMS Energy Corp.		12,040
440		Constellation Energy Group, Inc.		38,355
700		Dominion Resources, Inc.		60,417
950		DTE Energy Co.		45,809
600		Duke Energy Corp.		10,980
1,160		Edison International		65,099
680		Entergy Corp.		72,998
1,220		Exelon Corp.		88,572
940		FirstEnergy Corp.		60,846
1,200		FPL Group, Inc.		68,088
1,090		PG&E Corp.		49,377
300		PPL Corp.		14,037
740		Public Service Enterprise Group, Inc.		64,957
700		TECO Energy, Inc.		12,026
720		TXU Corp.		48,456
				757,088
Electrical Components & Equipment: 0.2%
1,080		Emerson Electric Co.		50,544
				50,544
Electronics: 0.4%
540	@	Agilent Technologies, Inc.		20,758
500		Tektronix, Inc.		16,870
870	@	Thermo Electron Corp.		44,996
200	@	Waters Corp.		11,872
				94,496
Engineering & Construction: 0.0%
100		Fluor Corp.		11,137
				11,137
Entertainment: 0.1%
390		International Game Technology		15,483
				15,483
Environmental Control: 0.2%
900	@	Allied Waste Industries, Inc.		12,114
1,170		Waste Management, Inc.		45,689
				57,803
Food: 1.4%
480		Campbell Soup Co.		18,629
300	@	Dean Foods Co.		9,561
1,200		General Mills, Inc.		70,104
200		Hershey Co.		10,124
1,390		HJ Heinz Co.		65,983
400		Kellogg Co.		20,716
1,983		Kraft Foods, Inc.		69,901
1,230		Kroger Co.		34,600
790		Safeway, Inc.		26,884
300		Supervalu, Inc.		13,896
300		Sysco Corp.		9,897

See Accompanying Notes to Financial Statements

106

ING GET U.S. CORE PORTFOLIO SERIES 10 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Food: (continued)
280		Whole Foods Market, Inc.	$	10,724
200		WM Wrigley Jr. Co.		11,062
				372,081
Forest Products & Paper: 0.3%
1,060		International Paper Co.		41,393
200		Temple-Inland, Inc.		12,306
300		Weyerhaeuser Co.		23,679
				77,378
Gas: 0.2%
250		KeySpan Corp.		10,495
600		Sempra Energy		35,538
				46,033
Hand/Machine Tools: 0.2%
120		Black & Decker Corp.		10,597
310		Snap-On, Inc.		15,658
310		Stanley Works		18,817
				45,072
Healthcare - Products: 2.4%
1,230		Baxter International, Inc.		69,298
490		Becton Dickinson & Co.		36,505
400		Biomet, Inc.		18,288
1,690	@	Boston Scientific Corp.		25,925
200		CR Bard, Inc.		16,526
4,860		Johnson & Johnson		299,473
1,600		Medtronic, Inc.		82,976
400	@	St. Jude Medical, Inc.		16,596
400		Stryker Corp.		25,236
200	@	Varian Medical Systems, Inc.		8,502
430	@	Zimmer Holdings, Inc.		36,503
				635,828
Healthcare - Services: 1.2%
820		Aetna, Inc.		40,508
390	@	Coventry Health Care, Inc.		22,484
390	@	Humana, Inc.		23,755
190	@	Laboratory Corp. of America Holdings		14,869
2,290		UnitedHealth Group, Inc.		117,111
1,160	@	WellPoint, Inc.		92,603
				311,330
Home Builders: 0.1%
400		Centex Corp.		16,040
400		KB Home		15,748
200		Lennar Corp.		7,312
				39,100
Home Furnishings: 0.1%
150		Harman International Industries, Inc.		17,520
110		Whirlpool Corp.		12,232
				29,752
Household Products/Wares: 0.3%
200		Clorox Co.		12,420
1,040		Kimberly-Clark Corp.		69,566
				81,986
Housewares: 0.1%
500		Newell Rubbermaid, Inc.		14,715
				14,715

Shares			Value
Insurance: 4.9%
800	@@	ACE Ltd.	$	50,016
1,000		Aflac, Inc.		51,400
1,450		Allstate Corp.		89,190
100		AMBAC Financial Group, Inc.		8,719
4,250		American International Group, Inc.		297,628
580		AON Corp.		24,714
300		Assurant, Inc.		17,676
1,230		Chubb Corp.		66,592
530		Cigna Corp.		27,677
1,190		Genworth Financial, Inc.		40,936
680		Hartford Financial Services Group, Inc.		66,987
436		Lincoln National Corp.		30,934
630		Loews Corp.		32,117
800		Marsh & McLennan Cos., Inc.		24,704
210		MBIA, Inc.		13,066
1,530		Metlife, Inc.		98,654
200		MGIC Investment Corp.		11,372
790		Principal Financial Group		46,049
1,570		Progressive Corp.		37,570
860		Prudential Financial, Inc.		83,618
210		Safeco Corp.		13,075
200		Torchmark Corp.		13,400
1,470		Travelers Cos., Inc.		78,645
400		UnumProvident Corp.		10,444
400	@@	XL Capital Ltd.		33,716
				1,268,899
Internet: 1.5%
600	@	Amazon.com, Inc.		41,046
1,930	@	eBay, Inc.		62,107
330	@	Google, Inc.		172,715
300	@	IAC/InterActiveCorp.		10,383
1,790	@	Symantec Corp.		36,158
430	@	VeriSign, Inc.		13,644
2,200	@	Yahoo!, Inc.		59,686
				395,739
Iron/Steel: 0.4%
200		Allegheny Technologies, Inc.		20,976
760		Nucor Corp.		44,574
250		United States Steel Corp.		27,188
				92,738
Leisure Time: 0.3%
770		Carnival Corp.		37,553
590		Harley-Davidson, Inc.		35,170
				72,723
Lodging: 0.2%
300		Harrah’s Entertainment, Inc.		25,578
300		Hilton Hotels Corp.		10,041
320		Marriott International, Inc.		13,837
200		Starwood Hotels & Resorts Worldwide, Inc.		13,414
				62,870
Machinery - Construction & Mining: 0.4%
1,290		Caterpillar, Inc.		101,007
200	@	Terex Corp.		16,260
				117,267

See Accompanying Notes to Financial Statements

107

ING GET U.S. CORE PORTFOLIO SERIES 10 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Machinery - Diversified: 0.4%
320		Cummins, Inc.	$	32,387
450		Deere & Co.		54,333
180		Rockwell Automation, Inc.		12,499
				99,219
Media: 2.5%
1,255		CBS Corp. - Class B		41,817
860		Clear Channel Communications, Inc.		32,525
3,620	@	Comcast Corp. - Class A		101,794
1,300	@	DIRECTV Group, Inc.		30,043
480		Gannett Co., Inc.		26,376
930		McGraw-Hill Cos., Inc.		63,314
4,380		News Corp., Inc. - Class A		92,900
4,600		Time Warner, Inc.		96,784
900	@	Viacom - Class B		37,467
3,570		Walt Disney Co.		121,880
				644,900
Metal Fabricate/Hardware: 0.0%
100		Precision Castparts Corp.		12,136
				12,136
Mining: 0.5%
1,400		Alcoa, Inc.		56,742
741		Freeport-McMoRan Copper & Gold, Inc.		61,370
500		Newmont Mining Corp.		19,530
				137,642
Miscellaneous Manufacturing: 4.4%
1,400		3M Co.		121,506
400		Cooper Industries Ltd.		22,836
490		Danaher Corp.		36,995
830		Eastman Kodak Co.		23,099
510		Eaton Corp.		47,430
15,090		General Electric Co.		577,629
1,320		Honeywell International, Inc.		74,290
900		Illinois Tool Works, Inc.		48,771
470		ITT Corp.		32,092
300		Pall Corp.		13,797
400		Parker Hannifin Corp.		39,164
100		Textron, Inc.		11,011
3,280	@	Tyco International Ltd.		110,831
				1,159,451
Office/Business Equipment: 0.1%
1,900	@	Xerox Corp.		35,112
				35,112
Oil & Gas: 7.4%
810		Anadarko Petroleum Corp.		42,112
200		Apache Corp.		16,318
600		Chesapeake Energy Corp.		20,760
3,870		Chevron Corp.		326,009
2,723		ConocoPhillips		213,756
870		Devon Energy Corp.		68,112
400		ENSCO International, Inc.		24,404
200		EOG Resources, Inc.		14,612
9,140		ExxonMobil Corp.		766,663
300		Hess Corp.		17,688
1,540		Marathon Oil Corp.		92,338
200		Murphy Oil Corp.		11,888
500	@, @@	Nabors Industries Ltd.		16,690
200		Noble Corp.		19,504

Shares			Value
1,510		Occidental Petroleum Corp.	$	87,399
300		Sunoco, Inc.		23,904
480	@	Transocean, Inc.		50,870
1,050		Valero Energy Corp.		77,553
620		XTO Energy, Inc.		37,262
				1,927,842
Oil & Gas Services: 1.2%
400		Baker Hughes, Inc.		33,652
2,130		Halliburton Co.		73,485
350	@	National Oilwell Varco, Inc.		36,484
1,740		Schlumberger Ltd.		147,796
400	@	Weatherford International Ltd.		22,096
				313,513
Packaging & Containers: 0.3%
200		Ball Corp.		10,634
600		Bemis Co.		19,908
830	@	Pactiv Corp.		26,469
600		Sealed Air Corp.		18,612
				75,623
Pharmaceuticals: 4.5%
1,980		Abbott Laboratories		106,029
470		AmerisourceBergen Corp.		23,251
180	@	Barr Pharmaceuticals, Inc.		9,041
3,200		Bristol-Myers Squibb Co.		100,992
550		Cardinal Health, Inc.		38,852
1,500		Eli Lilly & Co.		83,820
420	@	Express Scripts, Inc.		21,004
740	@	Forest Laboratories, Inc.		33,781
1,680	@	Gilead Sciences, Inc.		65,134
600	@	King Pharmaceuticals, Inc.		12,276
400	@	Medco Health Solutions, Inc.		31,196
3,280		Merck & Co., Inc.		163,344
580		Mylan Laboratories		10,550
10,980		Pfizer, Inc.		280,759
2,570		Schering-Plough Corp.		78,231
400	@	Watson Pharmaceuticals, Inc.		13,012
2,010		Wyeth		115,253
				1,186,525
Pipelines: 0.3%
940		El Paso Corp.		16,196
400		Questar Corp.		21,140
1,000		Spectra Energy Corp.		25,960
900		Williams Cos., Inc.		28,458
				91,754
Real Estate Investment Trusts: 0.7%
180		Apartment Investment & Management Co.		9,076
280		Archstone-Smith Trust		16,551
300		Boston Properties, Inc.		30,639
270		Developers Diversified Realty Corp.		14,232
200		Equity Residential		9,126
600		Host Hotels & Resorts, Inc.		13,872
300		Kimco Realty Corp.		11,421
450		Prologis		25,605
300		Simon Property Group, Inc.		27,912
200		Vornado Realty Trust		21,968
				180,402

See Accompanying Notes to Financial Statements

108

ING GET U.S. CORE PORTFOLIO SERIES 10 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail: 4.7%
210	@	Autozone, Inc.	$	28,690
300	@	Bed Bath & Beyond, Inc.		10,797
890		Best Buy Co., Inc.		41,536
350	@	Big Lots, Inc.		10,297
820		Costco Wholesale Corp.		47,986
2,271		CVS Corp.		82,778
280		Darden Restaurants, Inc.		12,317
400		Dollar General Corp.		8,768
510		Family Dollar Stores, Inc.		17,503
970		Gap, Inc.		18,527
3,280		Merck & Co., Inc.		163,344
2,760		Home Depot, Inc.		108,606
420		JC Penney Co., Inc.		30,400
550	@	Kohl’s Corp.		39,067
2,480		Lowe’s Cos., Inc.		76,111
1,210		Macy’s, Inc.		48,134
2,260		McDonald's Corp.		114,718
480		Nordstrom, Inc.		24,538
360	@	Office Depot, Inc.		10,908
400		RadioShack Corp.		13,256
150	@	Sears Holding Corp.		25,425
890		Staples, Inc.		21,120
1,130	@	Starbucks Corp.		29,651
1,410		Target Corp.		89,676
990		TJX Cos., Inc.		27,225
1,650		Walgreen Co.		71,841
3,550		Wal-Mart Stores, Inc.		170,791
400		Wendy's International, Inc.		14,700
1,040		Yum! Brands, Inc.		34,029
				1,229,395
Savings & Loans: 0.4%
900		Hudson City Bancorp., Inc.		10,998
500		Sovereign Bancorp., Inc.		10,570
1,830		Washington Mutual, Inc.		78,031
				99,599
Semiconductors: 2.1%
740	@	Advanced Micro Devices, Inc.		10,582
840		Altera Corp.		18,589
440		Analog Devices, Inc.		16,562
1,400		Applied Materials, Inc.		27,818
600	@	Broadcom Corp.		17,550
8,810		Intel Corp.		209,326
500		KLA-Tencor Corp.		27,475
500		Linear Technology Corp.		18,090
1,000	@	LSI Logic Corp.		7,510
380		Maxim Integrated Products		12,696
400	@	MEMC Electronic Materials, Inc.		24,448
1,070	@	Micron Technology, Inc.		13,407
440		National Semiconductor Corp.		12,439
410	@	Novellus Systems, Inc.		11,632
470	@	Nvidia Corp.		19,416
700	@	Teradyne, Inc.		12,306
2,100		Texas Instruments, Inc.		79,023
410		Xilinx, Inc.		10,976
				549,845

Shares			Value
Software: 3.2%
980	@	Adobe Systems, Inc.	$	39,347
500	@	Autodesk, Inc.		23,540
1,110		Automatic Data Processing, Inc.		53,802
590	@	BMC Software, Inc.		17,877
1,340		CA, Inc.		34,612
500	@	Citrix Systems, Inc.		16,835
1,270	@	Compuware Corp.		15,062
500	@	Electronic Arts, Inc.		23,660
1,340		First Data Corp.		43,778
430	@	Fiserv, Inc.		24,424
930	@	Intuit, Inc.		27,974
12,590		Microsoft Corp.		371,027
1,400	@	Novell, Inc.		10,906
5,790	@	Oracle Corp.		114,121
590		Paychex, Inc.		23,081
				840,046
Telecommunications: 5.2%
400	@@	Allergan, Inc.		23,056
500		Alltel Corp.		33,775
9,403		AT&T, Inc.		390,225
830	@	Avaya, Inc.		13,977
510		CenturyTel, Inc.		25,016
9,790	@	Cisco Systems, Inc.		272,652
1,390		Citizens Communications Co.		21,225
2,820	@	Corning, Inc.		72,051
372		Embarq Corp.		23,574
940	@	Juniper Networks, Inc.		23,660
4,040		Motorola, Inc.		71,508
2,380		Qualcomm, Inc.		103,268
2,740	@	Qwest Communications International, Inc.		26,578
4,330		Sprint Nextel Corp.		89,674
1,000	@	Tellabs, Inc.		10,760
4,010		Verizon Communications, Inc.		165,092
				1,366,091
Toys/Games/Hobbies: 0.2%
500		Hasbro, Inc.		15,705
1,010		Mattel, Inc.		25,543
				41,248
Transportation: 1.2%
390		Burlington Northern Santa Fe Corp.		33,205
200		CH Robinson Worldwide, Inc.		10,504
700		CSX Corp.		31,556
450		FedEx Corp.		49,937
820		Norfolk Southern Corp.		43,107
490		Union Pacific Corp.		56,424
1,400		United Parcel Service, Inc.		102,200
				326,933
		Total Common Stock (Cost $20,580,928)		21,867,481

See Accompanying Notes to Financial Statements

109

ING GET U.S. CORE PORTFOLIO SERIES 10 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 6.4%
	Federal National Mortgage Corporation: 6.4%
$	2,222,000	^	5.260%, due 01/15/13	$	1,672,028
			Total U.S. Government Agency Obligations (Cost $1,698,352)		1,672,028
	U.S. TREASURY OBLIGATIONS: 8.9%
	U.S. Treasury STRIP: 8.9%
	3,011,000	^	4.573%, due 11/15/12		2,320,578
			Total U.S. Treasury Obligations (Cost $2,310,152)		2,320,578
			Total Long-Term Investments (Cost $24,589,432)		25,860,087
Shares
	SHORT-TERM INVESTMENTS: 1.2%
	Mutual Fund: 0.2%
	43,000	**	ING Institutional Prime Money Market Fund		43,000
			Total Mutual Fund (Cost $43,000)		43,000

Principal Amount					Value
	Repurchase Agreement: 1.0%
$	267,000	Goldman Sachs Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $267,118 to be received upon repurchase (Collateralized by $272,000 Federal National Mortgage Association, 5.600%, Market Value plus accrued interest $273,162, due 02/01/17)			$	267,000
		Total Repurchase Agreement (Cost $267,000)				267,000
		Total Short-Term Investments (Cost $310,000)				310,000
		Total Investments in Securities (Cost $24,899,432)*	100.1	%	$	26,170,087
		Other Assets and Liabilities - Net	(0.1	)		(17,191	)
		Net Assets	100.0	%	$	26,152,896

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

* Cost for federal income tax purposes is $25,225,259.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	1,283,279
Gross Unrealized Depreciation		(338,451	)
Net Unrealized Appreciation	$	944,828

See Accompanying Notes to Financial Statements

110

ING GET U.S. CORE PORTFOLIO SERIES 11 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 88.5%
Advertising: 0.2%
960		Omnicom Group	$	50,803
				50,803
Aerospace/Defense: 2.1%
1,320		Boeing Co.		126,931
1,080		General Dynamics Corp.		84,478
200		Goodrich Corp.		11,912
300		L-3 Communications Holdings, Inc.		29,217
850		Lockheed Martin Corp.		80,011
510		Northrop Grumman Corp.		39,714
1,370		Raytheon Co.		73,829
2,120		United Technologies Corp.		150,372
				596,464
Agriculture: 1.4%
4,040		Altria Group, Inc.		283,366
980		Archer-Daniels-Midland Co.		32,428
540		Reynolds American, Inc.		35,208
550		UST, Inc.		29,541
				380,543
Apparel: 0.5%
1,050	@	Coach, Inc.		49,760
980		Nike, Inc.		57,124
200		Polo Ralph Lauren Corp.		19,622
				126,506

Shares			Value
Auto Manufacturers: 0.5%
4,870		Ford Motor Co.	$	45,875
800		General Motors Corp.		30,240
700		Paccar, Inc.		60,928
				137,043
Auto Parts & Equipment: 0.2%
200	@	Goodyear Tire & Rubber Co.		6,952
380		Johnson Controls, Inc.		43,993
				50,945
Banks: 5.5%
8,610		Bank of America Corp.		420,943
1,330	@	Bank of New York Co., Inc.		55,115
940		BB&T Corp.		38,239
719		Capital One Financial Corp.		56,398
490		Comerica, Inc.		29,140
200		Compass Bancshares, Inc.		13,796
400		Fifth Third Bancorp.		15,908
1,840		Huntington Bancshares, Inc.		41,842
1,540		Keycorp.		52,868
500		Marshall & Ilsley Corp.		23,815
770		Mellon Financial Corp.		33,880
1,140		National City Corp.		37,985
200		Northern Trust Corp.		12,848
410		PNC Financial Services Group, Inc.		29,348
2,056		Regions Financial Corp.		68,054
700		State Street Corp.		47,880
460		SunTrust Banks, Inc.		39,440
2,300		US Bancorp.		75,785
4,015		Wachovia Corp.		205,769
6,940		Wells Fargo & Co.		244,080
				1,543,133
Beverages: 1.7%
1,180		Anheuser-Busch Cos., Inc.		61,549
3,570		Coca-Cola Co.		186,747
790		Pepsi Bottling Group, Inc.		26,607
3,110		PepsiCo, Inc.		201,684
				476,587
Biotechnology: 0.8%
2,200	@	Amgen, Inc.		121,638
550	@	Biogen Idec, Inc.		29,425
500	@	Celgene Corp.		28,665
540	@	Genzyme Corp.		34,776
				214,504
Building Materials: 0.2%
200		American Standard Cos., Inc.		11,796
1,370		Masco Corp.		39,004
				50,800
Chemicals: 1.4%
140		Air Products & Chemicals, Inc.		11,252
400		Ashland, Inc.		25,580
1,560		Dow Chemical Co.		68,983
300		Ecolab, Inc.		12,810
1,400		EI DuPont de Nemours & Co.		71,176
500		International Flavors & Fragrances, Inc.		26,070
1,180		Monsanto Co.		79,697
490		PPG Industries, Inc.		37,294
300		Praxair, Inc.		21,597

See Accompanying Notes to Financial Statements

111

ING GET U.S. CORE PORTFOLIO SERIES 11 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Chemicals (continued)
270		Sherwin-Williams Co.	$	17,947
700		Sigma-Aldrich Corp.		29,869
				402,275
Coal: 0.1%
300		Consol Energy, Inc.		13,833
400		Peabody Energy Corp.		19,352
				33,185
Commercial Services: 0.6%
370	@	Apollo Group, Inc.		21,619
700	@	Convergys Corp.		16,968
290		Equifax, Inc.		12,882
680		McKesson Corp.		40,555
390		Moody’s Corp.		24,258
380		Robert Half International, Inc.		13,870
400		RR Donnelley & Sons Co.		17,404
1,170		Western Union Co.		24,371
				171,927
Computers: 3.9%
200	@	Affiliated Computer Services, Inc.		11,344
1,500	@	Apple, Inc.		183,060
110	@	Cognizant Technology Solutions Corp.		8,260
380	@	Computer Sciences Corp.		22,477
4,830	@	Dell, Inc.		137,897
1,380		Electronic Data Systems Corp.		38,267
5,090	@	EMC Corp.		92,129
5,300		Hewlett-Packard Co.		236,486
2,610		International Business Machines Corp.		274,703
250	@	Lexmark International, Inc.		12,328
280	@	NCR Corp.		14,711
760	@	Network Appliance, Inc.		22,192
400	@	Sandisk Corp.		19,576
5,700	@	Sun Microsystems, Inc.		29,982
				1,103,412
Cosmetics/Personal Care: 1.7%
550		Avon Products, Inc.		20,213
880		Colgate-Palmolive Co.		57,068
250		Estee Lauder Cos., Inc.		11,378
6,290		Procter & Gamble Co.		384,885
				473,544
Distribution/Wholesale: 0.1%
200		WW Grainger, Inc.		18,610
				18,610
Diversified Financial Services: 7.2%
2,150		American Express Co.		131,537
490		Ameriprise Financial, Inc.		31,149
270		Bear Stearns Cos., Inc.		37,800
1,770		Charles Schwab Corp.		36,320
100		Chicago Mercantile Exchange Holdings, Inc.		53,436
390		CIT Group, Inc.		21,384
8,980		Citigroup, Inc.		460,584
950		Countrywide Financial Corp.		34,533
570	@	E*Trade Financial Corp.		12,591
1,430		Fannie Mae		93,422
270		Franklin Resources, Inc.		35,767
1,170		Freddie Mac		71,019
820		Goldman Sachs Group, Inc.		177,735
450		Janus Capital Group, Inc.		12,528

Shares			Value
6,870		JP Morgan Chase & Co.	$	332,852
100		Legg Mason, Inc.		9,838
1,120		Lehman Brothers Holdings, Inc.		83,462
1,850		Merrill Lynch & Co., Inc.		154,623
2,100		Morgan Stanley		176,148
770		SLM Corp.		44,337
200		T. Rowe Price Group, Inc.		10,378
				2,021,443
Electric: 3.0%
1,060	@	AES Corp.		23,193
560		American Electric Power Co., Inc.		25,222
700		CMS Energy Corp.		12,040
400		Constellation Energy Group, Inc.		34,868
800		Dominion Resources, Inc.		69,048
900		DTE Energy Co.		43,398
800		Duke Energy Corp.		14,640
1,300		Edison International		72,956
800		Entergy Corp.		85,880
1,370		Exelon Corp.		99,462
1,150		FirstEnergy Corp.		74,440
1,400		FPL Group, Inc.		79,436
1,160		PG&E Corp.		52,548
200		PPL Corp.		9,358
740		Public Service Enterprise Group, Inc.		64,957
800		TECO Energy, Inc.		13,744
840		TXU Corp.		56,532
				831,722
Electrical Components & Equipment: 0.2%
1,380		Emerson Electric Co.		64,584
				64,584
Electronics: 0.4%
560	@	Agilent Technologies, Inc.		21,526
600		Tektronix, Inc.		20,244
900	@	Thermo Electron Corp.		46,548
170	@	Waters Corp.		10,091
				98,409
Engineering & Construction: 0.0%
100		Fluor Corp.		11,137
				11,137
Entertainment: 0.1%
400		International Game Technology		15,880
				15,880
Environmental Control: 0.2%
900	@	Allied Waste Industries, Inc.		12,114
1,190		Waste Management, Inc.		46,470
				58,584
Food: 1.5%
780		Campbell Soup Co.		30,272
300	@	Dean Foods Co.		9,561
1,350		General Mills, Inc.		78,867
200		Hershey Co.		10,124
1,500		HJ Heinz Co.		71,205
500		Kellogg Co.		25,895
2,018		Kraft Foods, Inc.		71,135
1,370		Kroger Co.		38,538
800		Safeway, Inc.		27,224
300		Supervalu, Inc.		13,896
400		Sysco Corp.		13,196

See Accompanying Notes to Financial Statements

112

ING GET U.S. CORE PORTFOLIO SERIES 11 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Food (continued)
230		Whole Foods Market, Inc.	$	8,809
200		WM Wrigley Jr. Co.		11,062
				409,784
Forest Products & Paper: 0.3%
1,180		International Paper Co.		46,079
370		Temple-Inland, Inc.		22,766
300		Weyerhaeuser Co.		23,679
				92,524
Gas: 0.2%
200		KeySpan Corp.		8,396
630		Sempra Energy		37,315
				45,711
Hand/Machine Tools: 0.2%
220		Black & Decker Corp.		19,428
300		Snap-On, Inc.		15,153
300		Stanley Works		18,210
				52,791
Healthcare - Products: 2.6%
1,360		Baxter International, Inc.		76,622
500		Becton Dickinson & Co.		37,250
400		Biomet, Inc.		18,288
1,750	@	Boston Scientific Corp.		26,845
200		CR Bard, Inc.		16,526
5,740		Johnson & Johnson		353,699
2,100		Medtronic, Inc.		108,906
400	@	St. Jude Medical, Inc.		16,596
400		Stryker Corp.		25,236
200	@	Varian Medical Systems, Inc.		8,502
390	@	Zimmer Holdings, Inc.		33,107
				721,577
Healthcare - Services: 1.2%
1,080		Aetna, Inc.		53,352
380	@	Coventry Health Care, Inc.		21,907
390	@	Humana, Inc.		23,755
150	@	Laboratory Corp. of America Holdings		11,739
2,630		UnitedHealth Group, Inc.		134,498
1,280	@	WellPoint, Inc.		102,182
				347,433
Home Builders: 0.1%
400		Centex Corp.		16,040
400		KB Home		15,748
200		Lennar Corp.		7,312
				39,100
Home Furnishings: 0.1%
110		Harman International Industries, Inc.		12,848
110		Whirlpool Corp.		12,232
				25,080
Household Products/Wares: 0.3%
200		Clorox Co.		12,420
1,180		Kimberly-Clark Corp.		78,930
				91,350
Housewares: 0.1%
500		Newell Rubbermaid, Inc.		14,715
				14,715

Shares			Value
Insurance: 4.9%
800	@@	ACE Ltd.	$	50,016
1,080		Aflac, Inc.		55,512
1,410		Allstate Corp.		86,729
120		AMBAC Financial Group, Inc.		10,463
4,870		American International Group, Inc.		341,046
670		AON Corp.		28,549
300		Assurant, Inc.		17,676
1,250		Chubb Corp.		67,675
560		Cigna Corp.		29,243
1,260		Genworth Financial, Inc.		43,344
750		Hartford Financial Services Group, Inc.		73,883
427		Lincoln National Corp.		30,296
760		Loews Corp.		38,745
700		Marsh & McLennan Cos., Inc.		21,616
370		MBIA, Inc.		23,021
1,470		Metlife, Inc.		94,786
200		MGIC Investment Corp.		11,372
910		Principal Financial Group		53,044
1,670		Progressive Corp.		39,963
1,190		Prudential Financial, Inc.		115,704
230		Safeco Corp.		14,320
220		Torchmark Corp.		14,740
1,360		Travelers Cos., Inc.		72,760
500		UnumProvident Corp.		13,055
400	@@	XL Capital Ltd.		33,716
				1,381,274
Internet: 1.7%
520	@	Amazon.com, Inc.		35,573
2,340	@	eBay, Inc.		75,301
450	@	Google, Inc.		235,521
500	@	IAC/InterActiveCorp.		17,305
1,780	@	Symantec Corp.		35,956
490	@	VeriSign, Inc.		15,548
2,300	@	Yahoo!, Inc.		62,399
				477,603
Iron/Steel: 0.3%
200		Allegheny Technologies, Inc.		20,976
760		Nucor Corp.		44,574
250		United States Steel Corp.		27,188
				92,738
Leisure Time: 0.2%
670		Carnival Corp.		32,676
610		Harley-Davidson, Inc.		36,362
				69,038
Lodging: 0.2%
300		Harrah’s Entertainment, Inc.		25,578
300		Hilton Hotels Corp.		10,041
410		Marriott International, Inc.		17,728
200		Starwood Hotels & Resorts Worldwide, Inc.		13,414
				66,761
Machinery - Construction & Mining: 0.5%
1,450		Caterpillar, Inc.		113,535
200	@	Terex Corp.		16,260
				129,795

See Accompanying Notes to Financial Statements

113

ING GET U.S. CORE PORTFOLIO SERIES 11 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Machinery - Diversified: 0.4%
360		Cummins, Inc.	$	36,436
440		Deere & Co.		53,126
180		Rockwell Automation, Inc.		12,499
				102,061
Media: 2.6%
1,430		CBS Corp. - Class B		47,648
790		Clear Channel Communications, Inc.		29,878
4,350	@	Comcast Corp. - Class A		122,322
1,800	@	DIRECTV Group, Inc.		41,598
500		Gannett Co., Inc.		27,475
1,080		McGraw-Hill Cos., Inc.		73,526
4,450		News Corp., Inc. - Class A		94,385
5,500		Time Warner, Inc.		115,720
1,000	@	Viacom - Class B		41,630
3,860		Walt Disney Co.		131,780
				725,962
Metal Fabricate/Hardware: 0.0%
100		Precision Castparts Corp.		12,136
				12,136
Mining: 0.5%
1,600		Alcoa, Inc.		64,848
727		Freeport-McMoRan Copper & Gold, Inc.		60,210
600		Newmont Mining Corp.		23,436
				148,494
Miscellaneous Manufacturing: 4.7%
1,370		3M Co.		118,902
420		Cooper Industries Ltd.		23,978
490		Danaher Corp.		36,995
1,050		Eastman Kodak Co.		29,222
570		Eaton Corp.		53,010
18,080		General Electric Co.		692,093
1,490		Honeywell International, Inc.		83,857
1,010		Illinois Tool Works, Inc.		54,732
480		ITT Corp.		32,774
300		Pall Corp.		13,797
420		Parker Hannifin Corp.		41,122
100		Textron, Inc.		11,011
3,800	@	Tyco International Ltd.		128,402
				1,319,895
Office/Business Equipment: 0.1%
1,960	@	Xerox Corp.		36,221
				36,221
Oil & Gas: 8.1%
1,080		Anadarko Petroleum Corp.		56,149
400		Apache Corp.		32,636
600		Chesapeake Energy Corp.		20,760
4,440		Chevron Corp.		374,026
3,374		ConocoPhillips		264,859
970		Devon Energy Corp.		75,941
400		ENSCO International, Inc.		24,404
190		EOG Resources, Inc.		13,881
10,980		ExxonMobil Corp.		921,002
300		Hess Corp.		17,688
1,820		Marathon Oil Corp.		109,127
200		Murphy Oil Corp.		11,888
500	@, @@	Nabors Industries Ltd.		16,690
200		Noble Corp.		19,504

Shares			Value
1,740		Occidental Petroleum Corp.	$	100,711
400		Sunoco, Inc.		31,872
500	@	Transocean, Inc.		52,990
1,160		Valero Energy Corp.		85,678
600		XTO Energy, Inc.		36,060
				2,265,866
Oil & Gas Services: 1.3%
500		Baker Hughes, Inc.		42,065
2,060		Halliburton Co.		71,070
500	@	National Oilwell Varco, Inc.		52,120
2,130		Schlumberger Ltd.		180,922
400	@	Weatherford International Ltd.		22,096
				368,273
Packaging & Containers: 0.2%
220		Ball Corp.		11,697
300		Bemis Co.		9,954
750	@	Pactiv Corp.		23,918
600		Sealed Air Corp.		18,612
				64,181
Pharmaceuticals: 5.0%
2,450		Abbott Laboratories		131,198
510		AmerisourceBergen Corp.		25,230
270	@	Barr Pharmaceuticals, Inc.		13,562
3,700		Bristol-Myers Squibb Co.		116,772
770		Cardinal Health, Inc.		54,393
1,600		Eli Lilly & Co.		89,408
420	@	Express Scripts, Inc.		21,004
700	@	Forest Laboratories, Inc.		31,955
1,940	@	Gilead Sciences, Inc.		75,214
770	@	King Pharmaceuticals, Inc.		15,754
500	@	Medco Health Solutions, Inc.		38,995
4,130		Merck & Co., Inc.		205,674
750		Mylan Laboratories		13,643
13,160		Pfizer, Inc.		336,501
3,090		Schering-Plough Corp.		94,060
400	@	Watson Pharmaceuticals, Inc.		13,012
2,320		Wyeth		133,029
				1,409,404
Pipelines: 0.4%
1,100		El Paso Corp.		18,953
400		Questar Corp.		21,140
1,100		Spectra Energy Corp.		28,556
1,140		Williams Cos., Inc.		36,047
				104,696
Real Estate Investment Trusts: 0.7%
200		Apartment Investment & Management Co.		10,084
350		Archstone-Smith Trust		20,689
300		Boston Properties, Inc.		30,639
310		Developers Diversified Realty Corp.		16,340
300		Equity Residential		13,689
500		Host Hotels & Resorts, Inc.		11,560
300		Kimco Realty Corp.		11,421
500		Prologis		28,450
300		Simon Property Group, Inc.		27,912
200		Vornado Realty Trust		21,968
				192,752

See Accompanying Notes to Financial Statements

114

ING GET U.S. CORE PORTFOLIO SERIES 11 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail: 4.9%
310	@	Autozone, Inc.	$	42,352
300	@	Bed Bath & Beyond, Inc.		10,797
790		Best Buy Co., Inc.		36,869
400	@	Big Lots, Inc.		11,768
950		Costco Wholesale Corp.		55,594
2,301		CVS Corp.		83,871
340		Darden Restaurants, Inc.		14,957
500		Dollar General Corp.		10,960
700		Family Dollar Stores, Inc.		24,024
1,030		Gap, Inc.		19,673
3,320		Home Depot, Inc.		130,642
460		JC Penney Co., Inc.		33,295
560	@	Kohl’s Corp.		39,777
2,940		Lowe’s Cos., Inc.		90,229
1,280		Macy’s, Inc.		50,918
2,530		McDonald’s Corp.		128,423
500		Nordstrom, Inc.		25,560
250	@	Office Depot, Inc.		7,575
500		RadioShack Corp.		16,570
120	@	Sears Holding Corp.		20,340
1,110		Staples, Inc.		26,340
1,370	@	Starbucks Corp.		35,949
1,540		Target Corp.		97,944
1,070		TJX Cos., Inc.		29,425
1,710		Walgreen Co.		74,453
4,360		Wal-Mart Stores, Inc.		209,760
500		Wendy’s International, Inc.		18,375
900		Yum! Brands, Inc.		29,448
				1,375,888
Savings & Loans: 0.4%
900		Hudson City Bancorp., Inc.		10,998
600		Sovereign Bancorp., Inc.		12,684
2,080		Washington Mutual, Inc.		88,691
				112,373
Semiconductors: 2.2%
870	@	Advanced Micro Devices, Inc.		12,441
760		Altera Corp.		16,819
360		Analog Devices, Inc.		13,550
1,560		Applied Materials, Inc.		30,997
700	@	Broadcom Corp.		20,475
10,590		Intel Corp.		251,618
600		KLA-Tencor Corp.		32,970
500		Linear Technology Corp.		18,090
1,300	@	LSI Logic Corp.		9,763
500		Maxim Integrated Products		16,705
400	@	MEMC Electronic Materials, Inc.		24,448
1,000	@	Micron Technology, Inc.		12,530
440		National Semiconductor Corp.		12,439
450	@	Novellus Systems, Inc.		12,767
710	@	Nvidia Corp.		29,330
700	@	Teradyne, Inc.		12,306
2,300		Texas Instruments, Inc.		86,549
500		Xilinx, Inc.		13,385
				627,182
Software: 3.4%
1,050	@	Adobe Systems, Inc.		42,158
410	@	Autodesk, Inc.		19,303
1,090		Automatic Data Processing, Inc.		52,832
660	@	BMC Software, Inc.		19,998
1,470		CA, Inc.		37,970

Shares			Value
500	@	Citrix Systems, Inc.	$	16,835
1,460	@	Compuware Corp.		17,316
450	@	Electronic Arts, Inc.		21,294
1,370		First Data Corp.		44,758
380	@	Fiserv, Inc.		21,584
1,000	@	Intuit, Inc.		30,080
15,100		Microsoft Corp.		444,997
1,500	@	Novell, Inc.		11,685
7,160	@	Oracle Corp.		141,124
550		Paychex, Inc.		21,516
				943,450
Telecommunications: 5.7%
400	@@	Allergan, Inc.		23,056
600		Alltel Corp.		40,530
11,248		AT&T, Inc.		466,792
900	@	Avaya, Inc.		15,156
450		CenturyTel, Inc.		22,073
11,460	@	Cisco Systems, Inc.		319,161
1,250		Citizens Communications Co.		19,088
3,100	@	Corning, Inc.		79,205
316		Embarq Corp.		20,025
1,000	@	Juniper Networks, Inc.		25,170
4,600		Motorola, Inc.		81,420
3,020		Qualcomm, Inc.		131,038
3,100	@	Qwest Communications International, Inc.		30,070
5,230		Sprint Nextel Corp.		108,313
1,300	@	Tellabs, Inc.		13,988
4,830		Verizon Communications, Inc.		198,851
				1,593,936
Toys/Games/Hobbies: 0.2%
500		Hasbro, Inc.		15,705
1,170		Mattel, Inc.		29,589
				45,294
Transportation: 1.3%
460		Burlington Northern Santa Fe Corp.		39,164
200		CH Robinson Worldwide, Inc.		10,504
720		CSX Corp.		32,458
610		FedEx Corp.		67,692
860		Norfolk Southern Corp.		45,210
510		Union Pacific Corp.		58,727
1,600		United Parcel Service, Inc.		116,800
				370,555
		Total Common Stock (Cost $23,634,102)		24,807,933

Principal Amount				Value
	U.S. TREASURY OBLIGATIONS: 10.9%
	U.S. Treasury STRIP: 10.9%
$	4,010,000	^	4.890%, due 02/15/13	$	3,054,934
			Total U.S. Treasury Obligations (Cost $3,050,291)		3,054,934
			Total Long-Term Investments (Cost $26,684,393)		27,862,867

See Accompanying Notes to Financial Statements

115

ING GET U.S. CORE PORTFOLIO SERIES 11 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
SHORT-TERM INVESTMENTS: 0.7%
Mutual Fund: 0.2%
50,000	**	ING Institutional Prime Money Market Fund	50,000
		Total Mutual Fund (Cost $50,000)	50,000

Principal Amount
	Repurchase Agreement: 0.5%
$	137,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $137,061 to be received upon repurchase (Collateralized by $295,000 Resolution Funding Corporation, Discount Note, Market Value $140,600, due 01/15/21)				137,000
		Total Repurchase Agreement (Cost $137,000)				137,000
		Total Short-Term Investments (Cost $187,000)				187,000
		Total Investments in Securities (Cost $26,871,393)*	100.1	%	$	28,049,867
		Other Assets and Liabilities - Net	(0.1	)		(18,905	)
		Net Assets	100.0	%	$	28,030,962

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

* Cost for federal income tax purposes is $27,285,494.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	1,112,235
Gross Unrealized Depreciation		(347,862	)
Net Unrealized Appreciation	$	764,373

See Accompanying Notes to Financial Statements

116

ING GET U.S. CORE PORTFOLIO SERIES 12 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 93.8%
Advertising: 0.2%
2,400		Omnicom Group	$	127,008
				127,008
Aerospace/Defense: 2.3%
2,750		Boeing Co.		264,440
1,900		General Dynamics Corp.		148,618
400		Goodrich Corp.		23,824
600		L-3 Communications Holdings, Inc.		58,434
1,800		Lockheed Martin Corp.		169,434
1,050		Northrop Grumman Corp.		81,764
3,050		Raytheon Co.		164,365
3,850		United Technologies Corp.		273,081
				1,183,960
Agriculture: 1.4%
7,300		Altria Group, Inc.		512,022
2,000		Archer-Daniels-Midland Co.		66,180
1,000		Reynolds American, Inc.		65,200
1,200		UST, Inc.		64,452
				707,854
Apparel: 0.4%
2,000	@	Coach, Inc.		94,780
1,900		Nike, Inc.		110,751
300		Polo Ralph Lauren Corp.		29,433
				234,964
Auto Manufacturers: 0.5%
7,950		Ford Motor Co.		74,889
1,750		General Motors Corp.		66,150
1,250		Paccar, Inc.		108,800
				249,839

Shares			Value
Auto Parts & Equipment: 0.2%
700	@	Goodyear Tire & Rubber Co.	$	24,332
600		Johnson Controls, Inc.		69,462
				93,794
Banks: 5.9%
16,000		Bank of America Corp.		782,240
2,850	@	Bank of New York Co., Inc.		118,104
1,950		BB&T Corp.		79,326
1,453		Capital One Financial Corp.		113,973
1,000		Comerica, Inc.		59,470
500		Compass Bancshares, Inc.		34,490
950		Fifth Third Bancorp.		37,782
3,700		Huntington Bancshares, Inc.		84,138
3,500		Keycorp.		120,155
1,100		Marshall & Ilsley Corp.		52,393
2,000		Mellon Financial Corp.		88,000
2,250		National City Corp.		74,970
400		Northern Trust Corp.		25,696
900		PNC Financial Services Group, Inc.		64,422
4,417		Regions Financial Corp.		146,203
1,250		State Street Corp.		85,500
950		SunTrust Banks, Inc.		81,453
4,600		US Bancorp.		151,570
7,343		Wachovia Corp.		376,329
12,800		Wells Fargo & Co.		450,176
				3,026,390
Beverages: 1.8%
2,350		Anheuser-Busch Cos., Inc.		122,576
6,950		Coca-Cola Co.		363,555
1,500		Pepsi Bottling Group, Inc.		50,520
6,000		PepsiCo, Inc.		389,100
				925,751
Biotechnology: 0.8%
3,900	@	Amgen, Inc.		215,631
1,150	@	Biogen Idec, Inc.		61,525
1,200	@	Celgene Corp.		68,796
1,100	@	Genzyme Corp.		70,840
				416,792
Building Materials: 0.2%
500		American Standard Cos., Inc.		29,490
2,600		Masco Corp.		74,022
				103,512
Chemicals: 1.7%
300		Air Products & Chemicals, Inc.		24,111
800		Ashland, Inc.		51,160
3,250		Dow Chemical Co.		143,715
600		Ecolab, Inc.		25,620
3,050		EI DuPont de Nemours & Co.		155,062
1,100		International Flavors & Fragrances, Inc.		57,354
2,100		Monsanto Co.		141,834
1,300		PPG Industries, Inc.		98,943
600		Praxair, Inc.		43,194
800		Sherwin-Williams Co.		53,176
1,600		Sigma-Aldrich Corp.		68,272
				862,441
Coal: 0.1%
600		Consol Energy, Inc.		27,666
990		Peabody Energy Corp.		47,896
				75,562

See Accompanying Notes to Financial Statements

117

ING GET U.S. CORE PORTFOLIO SERIES 12 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Commercial Services: 0.7%
600	@	Apollo Group, Inc.	$	35,058
1,500	@	Convergys Corp.		36,360
700		Equifax, Inc.		31,094
1,250		McKesson Corp.		74,550
800		Moody’s Corp.		49,760
800		Robert Half International, Inc.		29,200
900		RR Donnelley & Sons Co.		39,159
2,550		Western Union Co.		53,117
				348,298
Computers: 4.2%
400	@	Affiliated Computer Services, Inc.		22,688
3,000	@	Apple, Inc.		366,120
420	@	Cognizant Technology Solutions Corp.		31,538
800	@	Computer Sciences Corp.		47,320
9,000	@	Dell, Inc.		256,950
2,350		Electronic Data Systems Corp.		65,166
10,300	@	EMC Corp.		186,430
9,850		Hewlett-Packard Co.		439,507
4,950		International Business Machines Corp.		520,988
650	@	Lexmark International, Inc.		32,052
500	@	NCR Corp.		26,270
1,600	@	Network Appliance, Inc.		46,720
900	@	Sandisk Corp.		44,046
12,450	@	Sun Microsystems, Inc.		65,487
				2,151,282
Cosmetics/Personal Care: 1.7%
1,100		Avon Products, Inc.		40,425
1,850		Colgate-Palmolive Co.		119,973
650		Estee Lauder Cos., Inc.		29,582
11,600		Procter & Gamble Co.		709,804
				899,784
Distribution/Wholesale: 0.1%
500		WW Grainger, Inc.		46,525
				46,525
Diversified Financial Services: 7.6%
4,350		American Express Co.		266,133
1,000		Ameriprise Financial, Inc.		63,570
600		Bear Stearns Cos., Inc.		84,000
3,850		Charles Schwab Corp.		79,002
120		Chicago Mercantile Exchange Holdings, Inc.		64,123
800		CIT Group, Inc.		43,864
16,650		Citigroup, Inc.		853,979
2,250		Countrywide Financial Corp.		81,788
1,200	@	E*Trade Financial Corp.		26,508
3,150		Fannie Mae		205,790
600		Franklin Resources, Inc.		79,482
2,700		Freddie Mac		163,890
1,550		Goldman Sachs Group, Inc.		335,963
1,100		Janus Capital Group, Inc.		30,624
12,850		JP Morgan Chase & Co.		622,583
300		Legg Mason, Inc.		29,514
2,100		Lehman Brothers Holdings, Inc.		156,492
3,450		Merrill Lynch & Co., Inc.		288,351
4,200		Morgan Stanley		352,296
1,500		SLM Corp.		86,370
500		T. Rowe Price Group, Inc.		25,945
				3,940,267

Shares			Value
Electric: 3.2%
2,350	@	AES Corp.	$	51,418
1,000		American Electric Power Co., Inc.		45,040
1,400		CMS Energy Corp.		24,080
900		Constellation Energy Group, Inc.		78,453
1,500		Dominion Resources, Inc.		129,465
2,100		DTE Energy Co.		101,262
1,800		Duke Energy Corp.		32,940
2,700		Edison International		151,524
1,550		Entergy Corp.		166,393
2,550		Exelon Corp.		185,130
2,000		FirstEnergy Corp.		129,460
2,800		FPL Group, Inc.		158,872
2,500		PG&E Corp.		113,250
600		PPL Corp.		28,074
1,300		Public Service Enterprise Group, Inc.		114,114
1,500		TECO Energy, Inc.		25,770
1,700		TXU Corp.		114,410
				1,649,655
Electrical Components & Equipment: 0.2%
2,300		Emerson Electric Co.		107,640
				107,640
Electronics: 0.4%
1,500	@	Agilent Technologies, Inc.		57,660
1,100		Tektronix, Inc.		37,114
1,800	@	Thermo Electron Corp.		93,096
400	@	Waters Corp.		23,744
				211,614
Engineering & Construction: 0.0%
200		Fluor Corp.		22,274
				22,274
Entertainment: 0.1%
950		International Game Technology		37,715
				37,715
Environmental Control: 0.2%
1,800	@	Allied Waste Industries, Inc.		24,228
2,750		Waste Management, Inc.		107,388
				131,616
Food: 1.5%
1,200		Campbell Soup Co.		46,572
700	@	Dean Foods Co.		22,309
2,600		General Mills, Inc.		151,892
500		Hershey Co.		25,310
2,850		HJ Heinz Co.		135,290
900		Kellogg Co.		46,611
3,844		Kraft Foods, Inc.		135,501
2,650		Kroger Co.		74,545
1,700		Safeway, Inc.		57,851
500		Supervalu, Inc.		23,160
900		Sysco Corp.		29,691
400		Whole Foods Market, Inc.		15,320
400		WM Wrigley Jr. Co.		22,124
				786,176
Forest Products & Paper: 0.3%
1,800		International Paper Co.		70,290
830		Temple-Inland, Inc.		51,070
600		Weyerhaeuser Co.		47,358
				168,718

See Accompanying Notes to Financial Statements

118

ING GET U.S. CORE PORTFOLIO SERIES 12 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Gas: 0.2%
600		KeySpan Corp.	$	25,188
1,500		Sempra Energy		88,845
				114,033
Hand/Machine Tools: 0.2%
400		Black & Decker Corp.		35,324
700		Snap-On, Inc.		35,357
700		Stanley Works		42,490
				113,171
Healthcare - Products: 2.8%
2,900		Baxter International, Inc.		163,386
1,000		Becton Dickinson & Co.		74,500
800		Biomet, Inc.		36,576
4,200	@	Boston Scientific Corp.		64,428
500		CR Bard, Inc.		41,315
10,550		Johnson & Johnson		650,091
3,900		Medtronic, Inc.		202,254
900	@	St. Jude Medical, Inc.		37,341
1,000		Stryker Corp.		63,090
400	@	Varian Medical Systems, Inc.		17,004
900	@	Zimmer Holdings, Inc.		76,401
				1,426,386
Healthcare - Services: 1.3%
1,850		Aetna, Inc.		91,390
800	@	Coventry Health Care, Inc.		46,120
800	@	Humana, Inc.		48,728
300	@	Laboratory Corp. of America Holdings		23,478
4,900		UnitedHealth Group, Inc.		250,586
2,350	@	WellPoint, Inc.		187,601
				647,903
Home Builders: 0.2%
800		Centex Corp.		32,080
900		KB Home		35,433
500		Lennar Corp.		18,280
				85,793
Home Furnishings: 0.1%
200		Harman International Industries, Inc.		23,360
200		Whirlpool Corp.		22,240
				45,600
Household Products/Wares: 0.3%
500		Clorox Co.		31,050
2,200		Kimberly-Clark Corp.		147,158
				178,208
Housewares: 0.1%
1,000		Newell Rubbermaid, Inc.		29,430
				29,430
Insurance: 5.4%
1,550	@@	ACE Ltd.		96,906
2,200		Aflac, Inc.		113,080
3,250		Allstate Corp.		199,908
250		AMBAC Financial Group, Inc.		21,798
9,200		American International Group, Inc.		644,276
1,150		AON Corp.		49,002
600		Assurant, Inc.		35,352
2,650		Chubb Corp.		143,471
1,350		Cigna Corp.		70,497
2,450		Genworth Financial, Inc.		84,280

Shares			Value
1,700		Hartford Financial Services Group, Inc.	$	167,467
1,000		Lincoln National Corp.		70,950
1,400		Loews Corp.		71,372
1,800		Marsh & McLennan Cos., Inc.		55,584
400		MBIA, Inc.		24,888
3,150		Metlife, Inc.		203,112
350		MGIC Investment Corp.		19,901
1,500		Principal Financial Group		87,435
3,650		Progressive Corp.		87,345
2,200		Prudential Financial, Inc.		213,906
450		Safeco Corp.		28,017
450		Torchmark Corp.		30,150
2,900		Travelers Cos., Inc.		155,150
1,000		UnumProvident Corp.		26,110
900	@@	XL Capital Ltd.		75,861
				2,775,818
Internet: 1.8%
1,300	@	Amazon.com, Inc.		88,933
4,350	@	eBay, Inc.		139,983
800	@	Google, Inc.		418,704
1,000	@	IAC/InterActiveCorp.		34,610
4,150	@	Symantec Corp.		83,830
1,100	@	VeriSign, Inc.		34,903
4,500	@	Yahoo!, Inc.		122,085
				923,048
Iron/Steel: 0.4%
400		Allegheny Technologies, Inc.		41,952
1,550		Nucor Corp.		90,908
600		United States Steel Corp.		65,250
				198,110
Leisure Time: 0.3%
1,500		Carnival Corp.		73,155
1,300		Harley-Davidson, Inc.		77,493
				150,648
Lodging: 0.3%
700		Harrah’s Entertainment, Inc.		59,682
700		Hilton Hotels Corp.		23,429
850		Marriott International, Inc.		36,754
400		Starwood Hotels & Resorts Worldwide, Inc.		26,828
				146,693
Machinery - Construction & Mining: 0.5%
2,600		Caterpillar, Inc.		203,580
400	@	Terex Corp.		32,520
				236,100
Machinery - Diversified: 0.5%
700		Cummins, Inc.		70,847
1,100		Deere & Co.		132,814
500		Rockwell Automation, Inc.		34,720
				238,381
Media: 2.7%
2,250		CBS Corp. - Class B		74,970
1,700		Clear Channel Communications, Inc.		64,294
7,575	@	Comcast Corp. - Class A		213,009
3,600	@	DIRECTV Group, Inc.		83,196
1,100		Gannett Co., Inc.		60,445
1,950		McGraw-Hill Cos., Inc.		132,756

See Accompanying Notes to Financial Statements

119

ING GET U.S. CORE PORTFOLIO SERIES 12 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Media (continued)
9,300		News Corp., Inc. - Class A	$	197,253
10,400		Time Warner, Inc.		218,816
2,100	@	Viacom - Class B		87,423
8,200		Walt Disney Co.		279,948
				1,412,110
Metal Fabricate/Hardware: 0.1%
300		Precision Castparts Corp.		36,408
				36,408
Mining: 0.5%
3,200		Alcoa, Inc.		129,696
1,302		Freeport-McMoRan Copper & Gold, Inc.		107,832
1,200		Newmont Mining Corp.		46,872
				284,400
Miscellaneous Manufacturing: 5.0%
2,850		3M Co.		247,352
1,000		Cooper Industries Ltd.		57,090
900		Danaher Corp.		67,950
1,900		Eastman Kodak Co.		52,877
1,300		Eaton Corp.		120,900
33,500		General Electric Co.		1,282,355
3,050		Honeywell International, Inc.		171,654
2,200		Illinois Tool Works, Inc.		119,218
1,100		ITT Corp.		75,108
500		Pall Corp.		22,995
850		Parker Hannifin Corp.		83,224
200		Textron, Inc.		22,022
7,300	@	Tyco International Ltd.		246,667
				2,569,412
Office/Business Equipment: 0.1%
3,450	@	Xerox Corp.		63,756
				63,756
Oil & Gas: 8.3%
1,800		Anadarko Petroleum Corp.		93,582
700		Apache Corp.		57,113
1,500		Chesapeake Energy Corp.		51,900
8,250		Chevron Corp.		694,980
6,200		ConocoPhillips		486,700
1,800		Devon Energy Corp.		140,922
900		ENSCO International, Inc.		54,909
400		EOG Resources, Inc.		29,224
20,400		ExxonMobil Corp.		1,711,152
600		Hess Corp.		35,376
3,400		Marathon Oil Corp.		203,864
400		Murphy Oil Corp.		23,776
1,100	@, @@	Nabors Industries Ltd.		36,718
400		Noble Corp.		39,008
3,300		Occidental Petroleum Corp.		191,004
700		Sunoco, Inc.		55,776
1,350	@	Transocean, Inc.		143,073
2,250		Valero Energy Corp.		166,185
1,050		XTO Energy, Inc.		63,105
				4,278,367
Oil & Gas Services: 1.4%
1,000		Baker Hughes, Inc.		84,130
4,750		Halliburton Co.		163,875

Shares			Value
900	@	National Oilwell Varco, Inc.	$	93,816
4,150		Schlumberger Ltd.		352,501
700	@	Weatherford International Ltd.		38,668
				732,990
Packaging & Containers: 0.3%
450		Ball Corp.		23,927
650		Bemis Co.		21,567
1,600	@	Pactiv Corp.		51,024
1,300		Sealed Air Corp.		40,326
				136,844
Pharmaceuticals: 5.1%
4,000		Abbott Laboratories		214,200
1,150		AmerisourceBergen Corp.		56,891
450	@	Barr Pharmaceuticals, Inc.		22,604
6,900		Bristol-Myers Squibb Co.		217,764
1,300		Cardinal Health, Inc.		91,832
3,300		Eli Lilly & Co.		184,404
620	@	Express Scripts, Inc.		31,006
1,450	@	Forest Laboratories, Inc.		66,193
3,400	@	Gilead Sciences, Inc.		131,818
1,300	@	King Pharmaceuticals, Inc.		26,598
900	@	Medco Health Solutions, Inc.		70,191
7,750		Merck & Co., Inc.		385,950
1,400		Mylan Laboratories		25,466
24,850		Pfizer, Inc.		635,415
5,750		Schering-Plough Corp.		175,030
800	@	Watson Pharmaceuticals, Inc.		26,024
4,400		Wyeth		252,296
				2,613,682
Pipelines: 0.4%
2,200		El Paso Corp.		37,906
800		Questar Corp.		42,280
2,000		Spectra Energy Corp.		51,920
2,100		Williams Cos., Inc.		66,402
				198,508
Real Estate Investment Trusts: 0.7%
350		Apartment Investment & Management Co.		17,647
640		Archstone-Smith Trust		37,830
500		Boston Properties, Inc.		51,065
580		Developers Diversified Realty Corp.		30,572
500		Equity Residential		22,815
1,400		Host Hotels & Resorts, Inc.		32,368
700		Kimco Realty Corp.		26,649
1,000		Prologis		56,900
600		Simon Property Group, Inc.		55,824
400		Vornado Realty Trust		43,936
				375,606
Retail: 5.3%
400	@	Autozone, Inc.		54,648
600	@	Bed Bath & Beyond, Inc.		21,594
1,850		Best Buy Co., Inc.		86,340
900	@	Big Lots, Inc.		26,478
1,900		Costco Wholesale Corp.		111,188
5,254		CVS Corp.		191,508
700		Darden Restaurants, Inc.		30,793
1,000		Dollar General Corp.		21,920
1,200		Family Dollar Stores, Inc.		41,184
2,250		Gap, Inc.		42,975

See Accompanying Notes to Financial Statements

120

ING GET U.S. CORE PORTFOLIO SERIES 12 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail (continued)
6,400		Home Depot, Inc.	$	251,840
1,050		JC Penney Co., Inc.		75,999
1,150	@	Kohl’s Corp.		81,685
6,100		Lowe’s Cos., Inc.		187,209
2,450		Macy’s, Inc.		97,461
4,900		McDonald’s Corp.		248,724
900		Nordstrom, Inc.		46,008
700	@	Office Depot, Inc.		21,210
1,000		RadioShack Corp.		33,140
300	@	Sears Holding Corp.		50,850
2,050		Staples, Inc.		48,647
2,300	@	Starbucks Corp.		60,352
3,200		Target Corp.		203,520
1,900		TJX Cos., Inc.		52,250
3,650		Walgreen Co.		158,921
8,150		Wal-Mart Stores, Inc.		392,097
900		Wendy’s International, Inc.		33,075
1,900		Yum! Brands, Inc.		62,168
				2,733,784
Savings & Loans: 0.4%
2,000		Hudson City Bancorp., Inc.		24,440
1,100		Sovereign Bancorp., Inc.		23,254
4,250		Washington Mutual, Inc.		181,220
				228,914
Semiconductors: 2.4%
1,700	@	Advanced Micro Devices, Inc.		24,310
1,550		Altera Corp.		34,302
850		Analog Devices, Inc.		31,994
3,100		Applied Materials, Inc.		61,597
1,300	@	Broadcom Corp.		38,025
20,650		Intel Corp.		490,644
1,100		KLA-Tencor Corp.		60,445
1,100		Linear Technology Corp.		39,798
2,300	@	LSI Logic Corp.		17,273
950		Maxim Integrated Products		31,740
800	@	MEMC Electronic Materials, Inc.		48,896
2,450	@	Micron Technology, Inc.		30,699
950		National Semiconductor Corp.		26,857
1,000	@	Novellus Systems, Inc.		28,370
1,150	@	Nvidia Corp.		47,507
1,500	@	Teradyne, Inc.		26,370
4,800		Texas Instruments, Inc.		180,624
1,150		Xilinx, Inc.		30,786
				1,250,237
Software: 3.5%
2,050	@	Adobe Systems, Inc.		82,308
1,000	@	Autodesk, Inc.		47,080
2,250		Automatic Data Processing, Inc.		109,058
1,150	@	BMC Software, Inc.		34,845
2,700		CA, Inc.		69,741
1,200	@	Citrix Systems, Inc.		40,404
2,900	@	Compuware Corp.		34,394
1,000	@	Electronic Arts, Inc.		47,320
2,750		First Data Corp.		89,843
1,000	@	Fiserv, Inc.		56,800
1,850	@	Intuit, Inc.		55,648
26,400		Microsoft Corp.		778,008
3,000	@	Novell, Inc.		23,370

Shares				Value
	13,450	@	Oracle Corp.	$	265,100
	1,250		Paychex, Inc.		48,900
					1,782,819
	Telecommunications: 5.9%
	800	@@	Allergan, Inc.		46,112
	1,300		Alltel Corp.		87,815
	20,927		AT&T, Inc.		868,471
	1,800	@	Avaya, Inc.		30,312
	1,100		CenturyTel, Inc.		53,955
	21,900	@	Cisco Systems, Inc.		609,915
	2,600		Citizens Communications Co.		39,702
	6,700	@	Corning, Inc.		171,185
	600		Embarq Corp.		38,022
	1,900	@	Juniper Networks, Inc.		47,823
	8,600		Motorola, Inc.		152,220
	5,450		Qualcomm, Inc.		236,476
	6,200	@	Qwest Communications International, Inc.		60,140
	9,850		Sprint Nextel Corp.		203,994
	2,300	@	Tellabs, Inc.		24,748
	9,050		Verizon Communications, Inc.		372,589
					3,043,479
	Toys/Games/Hobbies: 0.2%
	1,100		Hasbro, Inc.		34,551
	2,200		Mattel, Inc.		55,638
					90,189
	Transportation: 1.4%
	850		Burlington Northern Santa Fe Corp.		72,369
	400		CH Robinson Worldwide, Inc.		21,008
	1,500		CSX Corp.		67,620
	1,400		FedEx Corp.		155,358
	1,450		Norfolk Southern Corp.		76,227
	1,000		Union Pacific Corp.		115,150
	2,800		United Parcel Service, Inc.		204,400
					712,132
			Total Common Stock (Cost $44,929,115 )		48,362,390
Principal Amount
	U.S. TREASURY OBLIGATIONS: 5.4%
	U.S. Treasury STRIP: 5.4%
$	3,700,000	^	4.623%, due 05/15/13	$	2,780,076
			Total U.S. Treasury Obligations (Cost $2,770,020 )		2,780,076
			Total Long-Term Investments (Cost $47,699,135)		51,142,466
Shares
	SHORT-TERM INVESTMENTS: 0.8%
	Mutual Fund: 0.1%
	34,000	**	ING Institutional Prime Money Market Fund		34,000
			Total Mutual Fund (Cost $34,000)		34,000

See Accompanying Notes to Financial Statements

121

ING GET U.S. CORE PORTFOLIO SERIES 12 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount					Value
	Repurchase Agreement: 0.7%
$	373,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $373,165 to be received upon repurchase (Collateralized by $800,000 Resolution Funding Corporation, Discount Note, Market Value $381,288, due 01/15/21)			$	373,000
		Total Repurchase Agreement (Cost $373,000)				373,000
		Total Short-Term Investments (Cost $407,000)				407,000
		Total Investments in Securities (Cost $48,106,135)*	100.0	%	$	51,549,466
		Other Assets and Liabilities - Net	0.0			21,533
		Net Assets	100.0	%	$	51,570,999

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

* Cost for federal income tax purposes is $48,239,618.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	3,894,106
Gross Unrealized Depreciation		(584,258	)
Net Unrealized Appreciation	$	3,309,848

See Accompanying Notes to Financial Statements

122

ING GET U.S. CORE PORTFOLIO SERIES 13 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 70.7%
Advertising: 0.2%
2,600		Omnicom Group	$	137,592
				137,592
Aerospace/Defense: 1.7%
2,800		Boeing Co.		269,248
2,100		General Dynamics Corp.		164,262
600		Goodrich Corp.		35,736
700		L-3 Communications Holdings, Inc.		68,173
2,000		Lockheed Martin Corp.		188,260
1,300		Northrop Grumman Corp.		101,231
3,200		Raytheon Co.		172,448
4,100		United Technologies Corp.		290,813
				1,290,171
Agriculture: 1.0%
7,800		Altria Group, Inc.		547,092
2,400		Archer-Daniels-Midland Co.		79,416
1,500		Reynolds American, Inc.		97,800
1,300		UST, Inc.		69,823
				794,131
Apparel: 0.4%
2,700	@	Coach, Inc.		127,953
2,300		Nike, Inc.		134,067
700		Polo Ralph Lauren Corp.		68,677
				330,697
Auto Manufacturers: 0.5%
13,400		Ford Motor Co.		126,228
2,400		General Motors Corp.		90,720

Shares			Value
1,700		Paccar, Inc.	$	147,968
				364,916
Auto Parts & Equipment: 0.2%
900	@	Goodyear Tire & Rubber Co.		31,284
1,000		Johnson Controls, Inc.		115,770
				147,054
Banks: 4.5%
17,000		Bank of America Corp.		831,130
3,700	@	Bank of New York Co., Inc.		153,328
2,500		BB&T Corp.		101,700
1,700		Capital One Financial Corp.		133,348
1,300		Comerica, Inc.		77,311
600		Compass Bancshares, Inc.		41,388
1,300		Fifth Third Bancorp.		51,701
5,200		Huntington Bancshares, Inc.		118,248
4,000		Keycorp.		137,320
1,400		Marshall & Ilsley Corp.		66,682
2,600		Mellon Financial Corp.		114,400
2,800		National City Corp.		93,296
500		Northern Trust Corp.		32,120
1,100		PNC Financial Services Group, Inc.		78,738
5,300		Regions Financial Corp.		175,430
1,800		State Street Corp.		123,120
1,200		SunTrust Banks, Inc.		102,888
4,900		US Bancorp.		161,455
8,000		Wachovia Corp.		410,000
13,800		Wells Fargo & Co.		485,346
				3,488,949
Beverages: 1.3%
2,800		Anheuser-Busch Cos., Inc.		146,048
7,200		Coca-Cola Co.		376,632
2,200		Pepsi Bottling Group, Inc.		74,096
6,300		PepsiCo, Inc.		408,555
				1,005,331
Biotechnology: 0.6%
4,300	@	Amgen, Inc.		237,747
1,300	@	Biogen Idec, Inc.		69,550
1,700	@	Celgene Corp.		97,461
1,500	@	Genzyme Corp.		96,600
				501,358
Building Materials: 0.2%
700		American Standard Cos., Inc.		41,286
3,700		Masco Corp.		105,339
				146,625
Chemicals: 1.4%
500		Air Products & Chemicals, Inc.		40,185
1,000		Ashland, Inc.		63,950
4,100		Dow Chemical Co.		181,302
900		Ecolab, Inc.		38,430
3,000		EI DuPont de Nemours & Co.		152,520
1,600		International Flavors & Fragrances, Inc.		83,424
2,700		Monsanto Co.		182,358
1,500		PPG Industries, Inc.		114,165
700		Praxair, Inc.		50,393
900		Sherwin-Williams Co.		59,823
2,100		Sigma-Aldrich Corp.		89,607
				1,056,157

See Accompanying Notes to Financial Statements

123

ING GET U.S. CORE PORTFOLIO SERIES 13 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Coal: 0.1%
900		Consol Energy, Inc.	$	41,499
1,300		Peabody Energy Corp.		62,894
				104,393
Commercial Services: 0.6%
900	@	Apollo Group, Inc.		52,587
1,500	@	Convergys Corp.		36,360
1,000		Equifax, Inc.		44,420
1,600		McKesson Corp.		95,424
1,100		Moody's Corp.		68,420
800		Robert Half International, Inc.		29,200
1,100		RR Donnelley & Sons Co.		47,861
3,300		Western Union Co.		68,739
				443,011
Computers: 3.0%
400	@	Affiliated Computer Services, Inc.		22,688
3,300	@	Apple, Inc.		402,732
400	@	Cognizant Technology Solutions Corp.		30,036
1,100	@	Computer Sciences Corp.		65,065
9,400	@	Dell, Inc.		268,370
3,000		Electronic Data Systems Corp.		83,190
11,100	@	EMC Corp.		200,910
10,400		Hewlett-Packard Co.		464,048
5,300		International Business Machines Corp.		557,825
800	@	Lexmark International, Inc.		39,448
800	@	NCR Corp.		42,032
2,100	@	Network Appliance, Inc.		61,320
1,100	@	Sandisk Corp.		53,834
14,500	@	Sun Microsystems, Inc.		76,270
				2,367,768
Cosmetics/Personal Care: 1.3%
1,400		Avon Products, Inc.		51,450
2,300		Colgate-Palmolive Co.		149,155
800		Estee Lauder Cos., Inc.		36,408
12,600		Procter & Gamble Co.		770,994
				1,008,007
Distribution/Wholesale: 0.1%
600		WW Grainger, Inc.		55,830
				55,830
Diversified Financial Services: 5.5%
4,200		American Express Co.		256,956
1,300		Ameriprise Financial, Inc.		82,641
500		Bear Stearns Cos., Inc.		70,000
4,900		Charles Schwab Corp.		100,548
200		Chicago Mercantile Exchange Holdings, Inc.		106,872
1,100		CIT Group, Inc.		60,313
17,600		Citigroup, Inc.		902,704
2,700		Countrywide Financial Corp.		98,145
1,500	@	E*Trade Financial Corp.		33,135
3,300		Fannie Mae		215,589
900		Franklin Resources, Inc.		119,223
2,700		Freddie Mac		163,890
1,700		Goldman Sachs Group, Inc.		368,475
1,500		Janus Capital Group, Inc.		41,760
13,800		JP Morgan Chase & Co.		668,610
300		Legg Mason, Inc.		29,514
2,500		Lehman Brothers Holdings, Inc.		186,300

Shares				Value
3,800			Merrill Lynch & Co., Inc.	$	317,604
4,100			Morgan Stanley		343,908
2,000			SLM Corp.		115,160
600			T. Rowe Price Group, Inc.		31,134
					4,312,481
Electric: 2.5%
2,900		@	AES Corp.		63,452
1,400			American Electric Power Co., Inc.		63,056
2,000			CMS Energy Corp.		34,400
1,200			Constellation Energy Group, Inc.		104,604
1,700			Dominion Resources, Inc.		146,727
2,100			DTE Energy Co.		101,262
2,400			Duke Energy Corp.		43,920
2,800			Edison International		157,136
1,800			Entergy Corp.		193,230
2,600			Exelon Corp.		188,760
2,700			FirstEnergy Corp.		174,771
2,900			FPL Group, Inc.		164,546
2,900			PG&E Corp.		131,370
800			PPL Corp.		37,432
1,700			Public Service Enterprise Group, Inc.		149,226
2,000			TECO Energy, Inc.		34,360
2,000			TXU Corp.		134,600
					1,922,852
Electrical Components & Equipment: 0.2%
2,800			Emerson Electric Co.		131,040
					131,040
Electronics: 0.3%
1,600		@	Agilent Technologies, Inc.		61,504
1,400			Tektronix, Inc.		47,236
2,000		@	Thermo Electron Corp.		103,440
500		@	Waters Corp.		29,680
					241,860
Engineering & Construction: 0.0%
300			Fluor Corp.		33,411
					33,411
Entertainment: 0.1%
1,200			International Game Technology		47,640
					47,640
Environmental Control: 0.2%
2,600		@	Allied Waste Industries, Inc.		34,996
3,100			Waste Management, Inc.		121,055
					156,051
Food: 1.2%
1,600			Campbell Soup Co.		62,096
800		@	Dean Foods Co.		25,496
2,700			General Mills, Inc.		157,734
700			Hershey Co.		35,434
3,500			HJ Heinz Co.		166,145
1,200			Kellogg Co.		62,148
4,335			Kraft Foods, Inc.		152,809
3,700			Kroger Co.		104,081
2,400	��		Safeway, Inc.		81,672
700			Supervalu, Inc.		32,424
800			Sysco Corp.		26,392
600			Whole Foods Market, Inc.		22,980

See Accompanying Notes to Financial Statements

124

ING GET U.S. CORE PORTFOLIO SERIES 13 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Food (continued)
600		WM Wrigley Jr. Co.	$	33,186
				962,597
Forest Products & Paper: 0.3%
3,100		International Paper Co.		121,055
700		Temple-Inland, Inc.		43,071
800		Weyerhaeuser Co.		63,144
				227,270
Gas: 0.2%
800		KeySpan Corp.		33,584
2,100		Sempra Energy		124,383
				157,967
Hand/Machine Tools: 0.2%
800		Black & Decker Corp.		70,648
800		Snap-On, Inc.		40,408
900		Stanley Works		54,630
				165,686
Healthcare—Products: 2.0%
3,000		Baxter International, Inc.		169,020
1,200		Becton Dickinson & Co.		89,400
1,200		Biomet, Inc.		54,864
5,400	@	Boston Scientific Corp.		82,836
700		CR Bard, Inc.		57,841
11,400		Johnson & Johnson		702,468
4,000		Medtronic, Inc.		207,440
1,100	@	St. Jude Medical, Inc.		45,639
1,300		Stryker Corp.		82,017
500	@	Varian Medical Systems, Inc.		21,255
1,000	@	Zimmer Holdings, Inc.		84,890
				1,597,670
Healthcare—Services: 0.9%
2,600		Aetna, Inc.		128,440
1,000	@	Coventry Health Care, Inc.		57,650
1,000	@	Humana, Inc.		60,910
400	@	Laboratory Corp. of America Holdings		31,304
5,300		UnitedHealth Group, Inc.		271,042
2,400	@	WellPoint, Inc.		191,592
				740,938
Home Builders: 0.2%
1,200		Centex Corp.		48,120
1,100		KB Home		43,307
700		Lennar Corp.		25,592
				117,019
Home Furnishings: 0.1%
400		Harman International Industries, Inc.		46,720
400		Whirlpool Corp.		44,480
				91,200
Household Products/Wares: 0.3%
600		Clorox Co.		37,260
2,700		Kimberly-Clark Corp.		180,603
				217,863
Housewares: 0.0%
1,300		Newell Rubbermaid, Inc.		38,259
				38,259

Shares			Value
Insurance: 3.9%
1,900	@@	ACE Ltd.	$	118,788
2,200		Aflac, Inc.		113,080
2,700		Allstate Corp.		166,077
500		AMBAC Financial Group, Inc.		43,595
9,700		American International Group, Inc.		679,291
1,500		AON Corp.		63,915
800		Assurant, Inc.		47,136
2,800		Chubb Corp.		151,592
1,500		Cigna Corp.		78,330
3,100		Genworth Financial, Inc.		106,640
1,700		Hartford Financial Services Group, Inc.		167,467
1,300		Lincoln National Corp.		92,235
1,900		Loews Corp.		96,862
2,200		Marsh & McLennan Cos., Inc.		67,936
500		MBIA, Inc.		31,110
3,300		Metlife, Inc.		212,784
500		MGIC Investment Corp.		28,430
1,900		Principal Financial Group		110,751
4,700		Progressive Corp.		112,471
2,200		Prudential Financial, Inc.		213,906
600		Safeco Corp.		37,356
700		Torchmark Corp.		46,900
3,200		Travelers Cos., Inc.		171,200
1,200		UnumProvident Corp.		31,332
1,100	@@	XL Capital Ltd.		92,719
				3,081,903
Internet: 1.3%
1,400	@	Amazon.com, Inc.		95,774
5,100	@	eBay, Inc.		164,118
800	@	Google, Inc.		418,704
1,000	@	IAC/InterActiveCorp.		34,610
5,400	@	Symantec Corp.		109,080
1,500	@	VeriSign, Inc.		47,595
5,100	@	Yahoo!, Inc.		138,363
				1,008,244
Iron/Steel: 0.3%
400		Allegheny Technologies, Inc.		41,952
2,200		Nucor Corp.		129,030
700		United States Steel Corp.		76,125
				247,107
Leisure Time: 0.3%
2,100		Carnival Corp.		102,417
1,800		Harley-Davidson, Inc.		107,298
				209,715
Lodging: 0.2%
800		Harrah's Entertainment, Inc.		68,208
900		Hilton Hotels Corp.		30,123
1,100		Marriott International, Inc.		47,564
700		Starwood Hotels & Resorts Worldwide, Inc.		46,949
				192,844
Machinery—Construction & Mining: 0.3%
2,700		Caterpillar, Inc.		211,410
500	@	Terex Corp.		40,650
				252,060

See Accompanying Notes to Financial Statements

125

ING GET U.S. CORE PORTFOLIO SERIES 13 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Machinery—Diversified: 0.4%
1,000		Cummins, Inc.	$	101,210
1,200		Deere & Co.		144,888
700		Rockwell Automation, Inc.		48,608
				294,706
Media: 2.2%
3,800		CBS Corp.—Class B		126,616
2,200		Clear Channel Communications, Inc.		83,204
9,200	@	Comcast Corp. – Class A		258,704
5,000	@	DIRECTV Group, Inc.		115,550
1,500		Gannett Co., Inc.		82,425
2,200		McGraw-Hill Cos., Inc.		149,776
9,300		News Corp., Inc.—Class A		197,253
10,800		Time Warner, Inc.		227,232
2,800	@	Viacom—Class B		116,564
9,400		Walt Disney Co.		320,916
				1,678,240
Metal Fabricate/Hardware: 0.1%
400		Precision Castparts Corp.		48,544
				48,544
Mining: 0.4%
3,700		Alcoa, Inc.		149,961
1,703		Freeport-McMoRan Copper & Gold, Inc.		141,042
1,300		Newmont Mining Corp.		50,778
				341,781
Miscellaneous Manufacturing: 3.7%
2,900		3M Co.		251,691
1,300		Cooper Industries Ltd.		74,217
1,500		Danaher Corp.		113,250
2,300		Eastman Kodak Co.		64,009
1,600		Eaton Corp.		148,800
35,600		General Electric Co.		1,362,768
3,300		Honeywell International, Inc.		185,724
2,600		Illinois Tool Works, Inc.		140,894
1,500		ITT Corp.		102,420
700		Pall Corp.		32,193
1,100		Parker Hannifin Corp.		107,701
300		Textron, Inc.		33,033
7,900	@	Tyco International Ltd.		266,941
				2,883,641
Office/Business Equipment:: 0.1%
5,700	@	Xerox Corp.		105,336
				105,336
Oil & Gas: 6.0%
2,300		Anadarko Petroleum Corp.		119,577
1,000		Apache Corp.		81,590
1,900		Chesapeake Energy Corp.		65,740
8,800		Chevron Corp.		741,312
6,500		ConocoPhillips		510,250
1,800		Devon Energy Corp.		140,922
1,100		ENSCO International, Inc.		67,111
500		EOG Resources, Inc.		36,530
21,600		ExxonMobil Corp.		1,811,808
700		Hess Corp.		41,272
3,500		Marathon Oil Corp.		209,860
500		Murphy Oil Corp.		29,720
1,400	@, @@	Nabors Industries Ltd.		46,732

Shares			Value
700		Noble Corp.	$	68,264
3,400		Occidental Petroleum Corp.		196,792
1,000		Sunoco, Inc.		79,680
1,300	@	Transocean, Inc.		137,774
2,500		Valero Energy Corp.		184,650
1,400		XTO Energy, Inc.		84,140
				4,653,724
Oil & Gas Services: 1.0%
1,300		Baker Hughes, Inc.		109,369
5,200		Halliburton Co.		179,400
1,100	@	National Oilwell Varco, Inc.		114,664
4,100		Schlumberger Ltd.		348,254
900	@	Weatherford International Ltd.		49,716
				801,403
Packaging & Containers: 0.2%
600		Ball Corp.		31,902
900		Bemis Co.		29,862
2,100	@	Pactiv Corp.		66,969
1,700		Sealed Air Corp.		52,734
				181,467
Pharmaceuticals: 3.7%
4,300		Abbott Laboratories		230,265
1,500		AmerisourceBergen Corp.		74,205
500	@	Barr Pharmaceuticals, Inc.		25,115
7,200		Bristol-Myers Squibb Co.		227,232
1,700		Cardinal Health, Inc.		120,088
3,600		Eli Lilly & Co.		201,168
820	@	Express Scripts, Inc.		41,008
1,800	@	Forest Laboratories, Inc.		82,170
3,600	@	Gilead Sciences, Inc.		139,572
1,600	@	King Pharmaceuticals, Inc.		32,736
1,300	@	Medco Health Solutions, Inc.		101,387
8,200		Merck & Co., Inc.		408,360
2,000		Mylan Laboratories		36,380
26,100		Pfizer, Inc.		667,377
6,100		Schering-Plough Corp.		185,684
1,000	@	Watson Pharmaceuticals, Inc.		32,530
4,800		Wyeth		275,232
				2,880,509
Pipelines: 0.3%
3,100		El Paso Corp.		53,413
800		Questar Corp.		42,280
3,400		Spectra Energy Corp.		88,264
2,400		Williams Cos., Inc.		75,888
				259,845
Real Estate Investment Trusts: 0.6%
500		Apartment Investment & Management Co.		25,210
830		Archstone-Smith Trust		49,061
700		Boston Properties, Inc.		71,491
500		Developers Diversified Realty Corp.		26,355
700		Equity Residential		31,941
1,800		Host Hotels & Resorts, Inc.		41,616
800		Kimco Realty Corp.		30,456
1,300		Prologis		73,970
800		Simon Property Group, Inc.		74,432
500		Vornado Realty Trust		54,920
				479,452

See Accompanying Notes to Financial Statements

126

ING GET U.S. CORE PORTFOLIO SERIES 13 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail: 4.0%
500	@	Autozone, Inc.	$	68,310
800	@	Bed Bath & Beyond, Inc.		28,792
2,300		Best Buy Co., Inc.		107,341
1,200	@	Big Lots, Inc.		35,304
2,200		Costco Wholesale Corp.		128,744
5,306		CVS Corp.		193,404
1,000		Darden Restaurants, Inc.		43,990
1,300		Dollar General Corp.		28,496
1,500		Family Dollar Stores, Inc.		51,480
3,300		Gap, Inc.		63,030
6,400		Home Depot, Inc.		251,840
1,200		JC Penney Co., Inc.		86,856
1,600	@	Kohl's Corp.		113,648
5,800		Lowe's Cos., Inc.		178,002
3,000		Macy's, Inc.		119,340
5,200		McDonald's Corp.		263,952
1,300		Nordstrom, Inc.		66,456
900	@	Office Depot, Inc.		27,270
1,300		RadioShack Corp.		43,082
400	@	Sears Holding Corp.		67,800
2,400		Staples, Inc.		56,952
3,100	@	Starbucks Corp.		81,344
3,000		Target Corp.		190,800
2,400		TJX Cos., Inc.		66,000
4,300		Walgreen Co.		187,222
8,400		Wal-Mart Stores, Inc.		404,124
1,300		Wendy's International, Inc.		47,775
2,800		Yum! Brands, Inc.		91,616
				3,092,970
Savings & Loans: 0.3%
2,600		Hudson City Bancorp., Inc.		31,772
1,500		Sovereign Bancorp., Inc.		31,710
4,000		Washington Mutual, Inc.		170,560
				234,042
Semiconductors: 1.9%
2,400	@	Advanced Micro Devices, Inc.		34,320
2,300		Altera Corp.		50,899
1,100		Analog Devices, Inc.		41,404
4,200		Applied Materials, Inc.		83,454
1,600	@	Broadcom Corp.		46,800
20,900		Intel Corp.		496,584
1,600		KLA-Tencor Corp.		87,920
1,400		Linear Technology Corp.		50,652
2,900	@	LSI Logic Corp.		21,779
1,400		Maxim Integrated Products		46,774
1,200	@	MEMC Electronic Materials, Inc.		73,344
3,100	@	Micron Technology, Inc.		38,843
1,400		National Semiconductor Corp.		39,578
1,400	@	Novellus Systems, Inc.		39,718
1,500	@	Nvidia Corp.		61,965
1,900	@	Teradyne, Inc.		33,402
4,800		Texas Instruments, Inc.		180,624
1,500		Xilinx, Inc.		40,155
				1,468,215
Software: 2.7%
2,800	@	Adobe Systems, Inc.		112,420
1,400	@	Autodesk, Inc.		65,912
2,800		Automatic Data Processing, Inc.		135,716
1,400	@	BMC Software, Inc.		42,420

Shares				Value
	3,400		CA, Inc.	$	87,822
	1,500	@	Citrix Systems, Inc.		50,505
	2,900	@	Compuware Corp.		34,394
	1,300	@	Electronic Arts, Inc.		61,516
	3,700		First Data Corp.		120,879
	1,200	@	Fiserv, Inc.		68,160
	2,400	@	Intuit, Inc.		72,192
	29,800		Microsoft Corp.		878,206
	4,200	@	Novell, Inc.		32,718
	13,800	@	Oracle Corp.		271,998
	1,700		Paychex, Inc.		66,504
					2,101,362
	Telecommunications: 4.3%
	1,400	@@	Allergan, Inc.		80,696
	1,400		Alltel Corp.		94,570
	22,220		AT&T, Inc.		922,130
	2,400	@	Avaya, Inc.		40,416
	1,400		CenturyTel, Inc.		68,670
	22,800	@	Cisco Systems, Inc.		634,980
	3,200		Citizens Communications Co.		48,864
	6,800	@	Corning, Inc.		173,740
	1,000		Embarq Corp.		63,370
	2,500	@	Juniper Networks, Inc.		62,925
	9,900		Motorola, Inc.		175,230
	6,100		Qualcomm, Inc.		264,679
	7,200	@	Qwest Communications International, Inc.		69,840
	9,700		Sprint Nextel Corp.		200,887
	2,900	@	Tellabs, Inc.		31,204
	9,600		Verizon Communications, Inc.		395,232
					3,327,433
	Toys/Games/Hobbies: 0.1%
	1,500		Hasbro, Inc.		47,115
	2,700		Mattel, Inc.		68,283
					115,398
	Transportation: 1.1%
	1,200		Burlington Northern Santa Fe Corp.		102,168
	500		CH Robinson Worldwide, Inc.		26,260
	2,100		CSX Corp.		94,668
	1,600		FedEx Corp.		177,552
	2,100		Norfolk Southern Corp.		110,397
	1,200		Union Pacific Corp.		138,180
	3,000		United Parcel Service, Inc.		219,000
					868,225
			Total Common Stock (Cost $53,156,951)		55,211,960
Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 17.3%
	Federal National Mortgage Corporation: 17.3%
$	11,000,000	^	4.972%, due 11/15/13		7,897,648
	7,820,000	^	4.984%, due 01/15/14		5,563,789
			Total U.S. Government Agency Obligations (Cost $13,647,269 )		13,461,437

See Accompanying Notes to Financial Statements

127

ING GET U.S. CORE PORTFOLIO SERIES 13 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount				Value
	U.S. TREASURY OBLIGATIONS: 11.2%
	U.S. Treasury STRIP: 11.2%
$	11,995,000	^	4.624%, due 11/15/13	$	8,774,043
			Total U.S. Treasury Obligations (Cost $ 8,724,287 )		8,774,043
			Total Long-Term Investments (Cost $75,528,507)		77,447,440
Shares
	SHORT-TERM INVESTMENTS: 0.9%
	Mutual Fund: 0.6%
	505,000	**	ING Institutional Prime Money Market Fund		505,000
			Total Mutual Fund (Cost $505,000)		505,000
Principal Amount

	Repurchase Agreement: 0.3%
$	205,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $205,091 to be received upon repurchase (Collateralized by $440,000 Resolution Funding Corporation, Discount Note, Market Value $209,708, due 01/15/21)				205,000
		Total Repurchase Agreement (Cost $205,000)				205,000
		Total Short-Term Investments (Cost $710,000)				710,000
		Total Investments in Securities (Cost $76,238,507)*	100.1	%	$	78,157,440
		Other Assets and Liabilities - Net	(0.1	)		(99,138	)
		Net Assets	100.0	%	$	78,058,302

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

** Investment in affiliate

^ Interest Only (IO) Security

* Cost for federal income tax purposes is $76,814,888.

Net unrealized appreciation consists of:
Gross Unrealized Appreciation	$	2,584,799
Gross Unrealized Depreciation		(1,242,247	)
Net Unrealized Appreciation	$	1,342,552

See Accompanying Notes to Financial Statements

128

ING GET U.S. CORE PORTFOLIO SERIES 14 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED)

Shares			Value
COMMON STOCK: 64.1%
Advertising: 0.1%
3,900		Omnicom Group	$	206,388
				206,388
Aerospace/Defense: 1.5%
4,800		Boeing Co.		461,568
3,700		General Dynamics Corp.		289,414
900		Goodrich Corp.		53,604
1,100		L-3 Communications Holdings, Inc.		107,129
3,000		Lockheed Martin Corp.		282,390
2,100		Northrop Grumman Corp.		163,527
4,800		Raytheon Co.		258,672
7,500		United Technologies Corp.		531,975
				2,148,279
Agriculture: 1.0%
13,800		Altria Group, Inc.		967,932
3,600		Archer-Daniels-Midland Co.		119,124
1,700		Reynolds American, Inc.		110,840
2,600		UST, Inc.		139,646
				1,337,542
Apparel: 0.3%
3,700	@	Coach, Inc.		175,343
3,100		Nike, Inc.		180,699
1,100		Polo Ralph Lauren Corp.		107,921
				463,963
Auto Manufacturers: 0.4%
18,100		Ford Motor Co.		170,502
3,600		General Motors Corp.		136,080
2,100		Paccar, Inc.		182,784
				489,366

Shares				Value
Auto Parts & Equipment: 0.2%
1,400		@	Goodyear Tire & Rubber Co.	$	48,664
1,400			Johnson Controls, Inc.		162,078
					210,742
Banks: 4.0%
30,200			Bank of America Corp.		1,476,478
4,900		@	Bank of New York Co., Inc.		203,056
3,700			BB&T Corp.		150,516
2,500			Capital One Financial Corp.		196,100
2,300			Comerica, Inc.		136,781
1,000			Compass Bancshares, Inc.		68,980
2,500			Fifth Third Bancorp.		99,425
7,500			Huntington Bancshares, Inc.		170,550
4,800			Keycorp.		164,784
500			M&T Bank Corp.		53,450
1,500			Marshall & Ilsley Corp.		71,445
3,500			Mellon Financial Corp.		154,000
4,600			National City Corp.		153,272
800	��		Northern Trust Corp.		51,392
1,400			PNC Financial Services Group, Inc.		100,212
7,900			Regions Financial Corp.		261,490
2,300			State Street Corp.		157,320
1,800			SunTrust Banks, Inc.		154,332
7,500			US Bancorp.		247,125
14,000			Wachovia Corp.		717,500
23,700			Wells Fargo & Co.		833,529
					5,621,737
Beverages: 1.2%
3,900			Anheuser-Busch Cos., Inc.		203,424
12,400			Coca-Cola Co.		648,644
3,000			Pepsi Bottling Group, Inc.		101,040
11,300			PepsiCo, Inc.		732,805
					1,685,913
Biotechnology: 0.6%
7,100		@	Amgen, Inc.		392,559
2,600		@	Biogen Idec, Inc.		139,100
2,500		@	Celgene Corp.		143,325
1,900		@	Genzyme Corp.		122,360
					797,344
Building Materials: 0.2%
900			American Standard Cos., Inc.		53,082
6,000			Masco Corp.		170,820
					223,902
Chemicals: 1.1%
600			Air Products & Chemicals, Inc.		48,222
1,400			Ashland, Inc.		89,530
6,100			Dow Chemical Co.		269,742
1,300			Ecolab, Inc.		55,510
4,700			EI DuPont de Nemours & Co.		238,948
2,000			International Flavors & Fragrances, Inc.		104,280
3,800			Monsanto Co.		256,652
2,600			PPG Industries, Inc.		197,886
1,100			Praxair, Inc.		79,189
1,100			Sherwin-Williams Co.		73,117
3,300			Sigma-Aldrich Corp.		140,811
					1,553,887

See Accompanying Notes to Financial Statements

129

ING GET U.S. CORE PORTFOLIO SERIES 14 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Coal: 0.1%
1,100		Consol Energy, Inc.	$	50,721
1,900		Peabody Energy Corp.		91,922
				142,643
Commercial Services: 0.5%
1,000	@	Apollo Group, Inc.		58,430
3,000	@	Convergys Corp.		72,720
1,100		Equifax, Inc.		48,862
2,400		McKesson Corp.		143,136
1,400		Moody’s Corp.		87,080
1,400		Robert Half International, Inc.		51,100
1,900		RR Donnelley & Sons Co.		82,669
4,500		Western Union Co.		93,735
				637,732
Computers: 2.9%
700	@	Affiliated Computer Services, Inc.		39,704
5,600	@	Apple, Inc.		683,424
700	@	Cognizant Technology Solutions Corp.		52,563
1,900	@	Computer Sciences Corp.		112,385
17,100	@	Dell, Inc.		488,205
4,900		Electronic Data Systems Corp.		135,877
15,600	@	EMC Corp.		282,360
17,600		Hewlett-Packard Co.		785,312
9,300		International Business Machines Corp.		978,825
1,100	@	Lexmark International, Inc.		54,241
1,500	@	NCR Corp.		78,810
3,600	@	Network Appliance, Inc.		105,120
1,900	@	Sandisk Corp.		92,986
24,100	@	Sun Microsystems, Inc.		126,766
				4,016,578
Cosmetics/Personal Care: 1.2%
2,400		Avon Products, Inc.		88,200
3,200		Colgate-Palmolive Co.		207,520
1,200		Estee Lauder Cos., Inc.		54,612
21,600		Procter & Gamble Co.		1,321,704
				1,672,036
Distribution/Wholesale: 0.1%
1,000		Genuine Parts Co.		49,600
800		WW Grainger, Inc.		74,440
				124,040
Diversified Financial Services: 5.3%
7,600		American Express Co.		464,968
1,800		Ameriprise Financial, Inc.		114,426
800		Bear Stearns Cos., Inc.		112,000
7,100		Charles Schwab Corp.		145,692
200		Chicago Mercantile Exchange Holdings, Inc.		106,872
1,900		CIT Group, Inc.		104,177
31,600		Citigroup, Inc.		1,620,764
4,500		Countrywide Financial Corp.		163,575
2,200	@	E*Trade Financial Corp.		48,598
5,700		Fannie Mae		372,381
1,200		Franklin Resources, Inc.		158,964
4,600		Freddie Mac		279,220
3,000		Goldman Sachs Group, Inc.		650,250
1,700		Janus Capital Group, Inc.		47,328
24,700		JP Morgan Chase & Co.		1,196,715
800		Legg Mason, Inc.		78,704

Shares			Value
4,000		Lehman Brothers Holdings, Inc.	$	298,080
6,400		Merrill Lynch & Co., Inc.		534,912
7,400		Morgan Stanley		620,712
3,000		SLM Corp.		172,740
900		T. Rowe Price Group, Inc.		46,701
				7,337,779
Electric: 2.1%
3,100	@	AES Corp.		67,828
1,800		American Electric Power Co., Inc.		81,072
1,300		Constellation Energy Group, Inc.		113,321
2,000		Dominion Resources, Inc.		172,620
3,600		DTE Energy Co.		173,592
2,700		Duke Energy Corp.		49,410
4,400		Edison International		246,928
2,600		Entergy Corp.		279,110
4,500		Exelon Corp.		326,700
3,400		FirstEnergy Corp.		220,082
4,600		FPL Group, Inc.		261,004
3,800		PG&E Corp.		172,140
3,900		PPL Corp.		182,481
2,300		Public Service Enterprise Group, Inc.		201,894
5,200		TECO Energy, Inc.		89,336
3,000		TXU Corp.		201,900
2,300		Xcel Energy, Inc.		47,081
				2,886,499
Electrical Components & Equipment: 0.1%
4,200		Emerson Electric Co.		196,560
				196,560
Electronics: 0.3%
3,100	@	Agilent Technologies, Inc.		119,164
2,100		Tektronix, Inc.		70,854
2,900	@	Thermo Electron Corp.		149,988
800	@	Waters Corp.		47,488
				387,494
Engineering & Construction: 0.0%
500		Fluor Corp.		55,685
				55,685
Entertainment: 0.1%
2,600		International Game Technology		103,220
				103,220
Environmental Control: 0.2%
3,600	@	Allied Waste Industries, Inc.		48,456
4,800		Waste Management, Inc.		187,440
				235,896
Food: 1.1%
3,100		Campbell Soup Co.		120,311
1,600	@	Dean Foods Co.		50,992
4,500		General Mills, Inc.		262,890
1,000		Hershey Co.		50,620
5,000		HJ Heinz Co.		237,350
2,800		Kellogg Co.		145,012
6,500		Kraft Foods, Inc.		229,125
5,300		Kroger Co.		149,089
3,400		Safeway, Inc.		115,702
1,100		Supervalu, Inc.		50,952
1,400		Sysco Corp.		46,186
1,200		Whole Foods Market, Inc.		45,960
900		WM Wrigley Jr. Co.		49,779
				1,553,968

See Accompanying Notes to Financial Statements

130

ING GET U.S. CORE PORTFOLIO SERIES 14 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Forest Products & Paper: 0.2%
4,100		International Paper Co.	$	160,105
800		Temple-Inland, Inc.		49,224
1,000		Weyerhaeuser Co.		78,930
				288,259
Gas: 0.1%
1,300		KeySpan Corp.		54,574
2,500		Sempra Energy		148,075
				202,649
Hand/Machine Tools: 0.2%
1,100		Black & Decker Corp.		97,141
1,200		Snap-On, Inc.		60,612
1,400		Stanley Works		84,980
				242,733
Healthcare — Products: 1.9%
4,700		Baxter International, Inc.		264,798
1,900		Becton Dickinson & Co.		141,550
1,800		Biomet, Inc.		82,296
7,100	@	Boston Scientific Corp.		108,914
900		CR Bard, Inc.		74,367
19,700		Johnson & Johnson		1,213,914
7,100		Medtronic, Inc.		368,206
1,600	@	St. Jude Medical, Inc.		66,384
1,700		Stryker Corp.		107,253
1,200	@	Varian Medical Systems, Inc.		51,012
1,600	@	Zimmer Holdings, Inc.		135,824
				2,614,518
Healthcare — Services: 0.8%
3,200		Aetna, Inc.		158,080
1,400	@	Coventry Health Care, Inc.		80,710
1,400	@	Humana, Inc.		85,274
9,000		UnitedHealth Group, Inc.		460,260
3,900	@	WellPoint, Inc.		311,337
				1,095,661
Home Builders: 0.1%
1,700		Centex Corp.		68,170
1,700		KB Home		66,929
1,200		Lennar Corp.		43,872
				178,971
Home Furnishings: 0.1%
500		Harman International Industries, Inc.		58,400
400		Whirlpool Corp.		44,480
				102,880
Household Products/Wares: 0.2%
4,300		Kimberly-Clark Corp.		287,627
				287,627
Housewares: 0.1%
2,900		Newell Rubbermaid, Inc.		85,347
				85,347
Insurance: 3.5%
3,100	@@	ACE Ltd.		193,812
3,200		Aflac, Inc.		164,480
5,400		Allstate Corp.		332,154
700		AMBAC Financial Group, Inc.		61,033
17,200		American International Group, Inc.		1,204,516

Shares			Value
2,400		AON Corp.	$	102,264
1,400		Assurant, Inc.		82,488
4,100		Chubb Corp.		221,974
2,300		Cigna Corp.		120,106
4,100		Genworth Financial, Inc.		141,040
2,300		Hartford Financial Services Group, Inc.		226,573
2,000		Lincoln National Corp.		141,900
2,600		Loews Corp.		132,548
3,000		Marsh & McLennan Cos., Inc.		92,640
1,200		MBIA, Inc.		74,664
5,700		Metlife, Inc.		367,536
800		MGIC Investment Corp.		45,488
2,900		Principal Financial Group		169,041
5,800		Progressive Corp.		138,794
3,400		Prudential Financial, Inc.		330,582
900		Safeco Corp.		56,034
800		Torchmark Corp.		53,600
5,200		Travelers Cos., Inc.		278,200
2,000		UnumProvident Corp.		52,220
1,700	@@	XL Capital Ltd.		143,293
				4,926,980
Internet: 1.1%
2,100	@	Amazon.com, Inc.		143,661
7,100	@	eBay, Inc.		228,478
1,300	@	Google, Inc.		680,394
1,800	@	IAC/InterActiveCorp.		62,298
7,900	@	Symantec Corp.		159,580
2,200	@	VeriSign, Inc.		69,806
7,100	@	Yahoo!, Inc.		192,623
				1,536,840
Iron/Steel: 0.3%
700		Allegheny Technologies, Inc.		73,416
2,900		Nucor Corp.		170,085
1,000		United States Steel Corp.		108,750
				352,251
Leisure Time: 0.2%
3,800		Carnival Corp.		185,326
2,500		Harley-Davidson, Inc.		149,025
				334,351
Lodging: 0.2%
1,300		Harrah's Entertainment, Inc.		110,838
1,400		Hilton Hotels Corp.		46,858
1,000		Starwood Hotels & Resorts Worldwide, Inc.		67,070
				224,766
Machinery — Construction & Mining: 0.3%
4,300		Caterpillar, Inc.		336,690
700	@	Terex Corp.		56,910
				393,600
Machinery — Diversified: 0.3%
1,300		Cummins, Inc.		131,573
1,600		Deere & Co.		193,184
800		Rockwell Automation, Inc.		55,552
				380,309
Media: 1.7%
4,700		CBS Corp.—Class B		156,604
3,600		Clear Channel Communications, Inc.		136,152

See Accompanying Notes to Financial Statements

131

ING GET U.S. CORE PORTFOLIO SERIES 14 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Media (continued)
17,700	@	Comcast Corp. – Class A	$	497,724
6,500	@	DIRECTV Group, Inc.		150,215
2,300		Gannett Co., Inc.		126,385
3,300		McGraw-Hill Cos., Inc.		224,664
18,400		News Corp., Inc.—Class A		390,264
21,000		Time Warner, Inc.		441,840
4,400	@	Viacom—Class B		183,172
				2,307,020
Metal Fabricate/Hardware: 0.0%
500		Precision Castparts Corp.		60,680
				60,680
Mining: 0.4%
5,600		Alcoa, Inc.		226,968
2,500		Freeport-McMoRan Copper & Gold, Inc.		207,050
2,200		Newmont Mining Corp.		85,932
				519,950
Miscellaneous Manufacturing: 3.3%
5,000		3M Co.		433,950
1,500		Cooper Industries Ltd.		85,635
1,300		Danaher Corp.		98,150
2,500		Eastman Kodak Co.		69,575
2,100		Eaton Corp.		195,300
62,100		General Electric Co.		2,377,188
5,200		Honeywell International, Inc.		292,656
3,100		Illinois Tool Works, Inc.		167,989
2,200		ITT Corp.		150,216
1,100		Pall Corp.		50,589
1,700		Parker Hannifin Corp.		166,447
500		Textron, Inc.		55,055
14,100	@	Tyco International Ltd.		476,439
				4,619,189
Office/Business Equipment: 0.1%
6,700	@	Xerox Corp.		123,816
				123,816
Oil & Gas: 5.7%
3,300		Anadarko Petroleum Corp.		171,567
1,800		Apache Corp.		146,862
1,900		Chesapeake Energy Corp.		65,740
15,700		Chevron Corp.		1,322,568
11,500		ConocoPhillips		902,750
2,400		Devon Energy Corp.		187,896
1,400		ENSCO International, Inc.		85,414
700		EOG Resources, Inc.		51,142
37,900		ExxonMobil Corp.		3,179,052
1,500		Hess Corp.		88,440
5,700		Marathon Oil Corp.		341,772
1,500		Murphy Oil Corp.		89,160
2,100	@, @@	Nabors Industries Ltd.		70,098
900		Noble Corp.		87,768
6,400		Occidental Petroleum Corp.		370,432
1,400		Sunoco, Inc.		111,552
1,900	@	Transocean, Inc.		201,362
4,000		Valero Energy Corp.		295,440
2,300		XTO Energy, Inc.		138,230
				7,907,245

Shares			Value
Oil & Gas Services: 0.9%
1,900		Baker Hughes, Inc.	$	159,847
7,200		Halliburton Co.		248,400
1,400	@	National Oilwell Varco, Inc.		145,936
7,300		Schlumberger Ltd.		620,062
1,200	@	Weatherford International Ltd.		66,288
				1,240,533
Packaging & Containers: 0.2%
900		Ball Corp.		47,853
1,500		Bemis Co.		49,770
3,000	@	Pactiv Corp.		95,670
2,300		Sealed Air Corp.		71,346
				264,639
Pharmaceuticals: 3.5%
8,100		Abbott Laboratories		433,755
2,000		AmerisourceBergen Corp.		98,940
900	@	Barr Pharmaceuticals, Inc.		45,207
13,600		Bristol-Myers Squibb Co.		429,216
2,500		Cardinal Health, Inc.		176,600
5,300		Eli Lilly & Co.		296,164
1,800	@	Express Scripts, Inc.		90,018
3,100	@	Forest Laboratories, Inc.		141,515
6,100	@	Gilead Sciences, Inc.		236,497
3,600	@	King Pharmaceuticals, Inc.		73,656
1,900	@	Medco Health Solutions, Inc.		148,181
14,000		Merck & Co., Inc.		697,200
2,600		Mylan Laboratories		47,294
45,500		Pfizer, Inc.		1,163,435
10,000		Schering-Plough Corp.		304,400
1,600	@	Watson Pharmaceuticals, Inc.		52,048
8,500		Wyeth		487,390
				4,921,516
Pipelines: 0.3%
3,000		El Paso Corp.		51,690
1,700		Questar Corp.		89,845
4,300		Spectra Energy Corp.		111,628
4,600		Williams Cos., Inc.		145,452
				398,615
Real Estate Investment Trusts: 0.5%
1,600		Archstone-Smith Trust		94,576
900		Boston Properties, Inc.		91,917
1,200		Developers Diversified Realty Corp.		63,252
1,100		Equity Residential		50,193
3,000		Host Hotels & Resorts, Inc.		69,360
1,200		Kimco Realty Corp.		45,684
1,700		Prologis		96,730
1,700		Simon Property Group, Inc.		158,168
700		Vornado Realty Trust		76,888
				746,768
Retail: 3.6%
800	@	Autozone, Inc.		109,296
1,700	@	Bed Bath & Beyond, Inc.		61,183
3,000		Best Buy Co., Inc.		140,010
1,900	@	Big Lots, Inc.		55,898
4,500		Costco Wholesale Corp.		263,340
9,000		CVS Corp.		328,050
1,300		Darden Restaurants, Inc.		57,187
2,300		Dollar General Corp.		50,416
2,800		Family Dollar Stores, Inc.		96,096

See Accompanying Notes to Financial Statements

132

ING GET U.S. CORE PORTFOLIO SERIES 14 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Shares			Value
Retail (continued)
5,100		Gap, Inc.	$	97,410
10,700		Home Depot, Inc.		421,045
2,200		JC Penney Co., Inc.		159,236
2,200	@	Kohl's Corp.		156,266
9,100		Lowe's Cos., Inc.		279,279
3,500		Macy's, Inc.		139,230
9,000		McDonald's Corp.		456,840
1,800		Nordstrom, Inc.		92,016
1,500	@	Office Depot, Inc.		45,450
1,700		RadioShack Corp.		56,338
600	@	Sears Holding Corp.		101,700
3,800		Staples, Inc.		90,174
4,900	@	Starbucks Corp.		128,576
5,400		Target Corp.		343,440
4,000		TJX Cos., Inc.		110,000
6,200		Walgreen Co.		269,948
14,800		Wal-Mart Stores, Inc.		712,028
1,800		Wendy's International, Inc.		66,150
3,600		Yum! Brands, Inc.		117,792
				5,004,394
Savings & Loans: 0.2%
3,900		Hudson City Bancorp., Inc.		47,658
5,900		Washington Mutual, Inc.		251,576
				299,234
Semiconductors: 1.7%
3,600	@	Advanced Micro Devices, Inc.		51,480
3,800		Altera Corp.		84,094
1,400		Analog Devices, Inc.		52,696
7,000		Applied Materials, Inc.		139,090
2,600	@	Broadcom Corp.		76,050
37,000		Intel Corp.		879,120
2,300		KLA-Tencor Corp.		126,385
5,900	@	LSI Logic Corp.		44,309
1,900		Maxim Integrated Products		63,479
1,600	@	MEMC Electronic Materials, Inc.		97,792
4,000	@	Micron Technology, Inc.		50,120
3,100		National Semiconductor Corp.		87,637
1,800	@	Novellus Systems, Inc.		51,066
2,600	@	Nvidia Corp.		107,406
2,900	@	Teradyne, Inc.		50,982
7,900		Texas Instruments, Inc.		297,277
1,800		Xilinx, Inc.		48,186
				2,307,169
Software: 2.4%
3,800	@	Adobe Systems, Inc.		152,570
2,400	@	Autodesk, Inc.		112,992
3,800		Automatic Data Processing, Inc.		184,186
2,900	@	BMC Software, Inc.		87,870
5,600		CA, Inc.		144,648
1,700	@	Citrix Systems, Inc.		57,239
2,100	@	Electronic Arts, Inc.		99,372
5,400		First Data Corp.		176,418
1,600	@	Fiserv, Inc.		90,880
3,000	@	Intuit, Inc.		90,240
52,200		Microsoft Corp.		1,538,334
6,100	@	Novell, Inc.		47,519
24,800	@	Oracle Corp.		488,808
2,400		Paychex, Inc.		93,888
				3,364,964

Shares				Value
	Telecommunications: 4.3%
	1,800	@@	Allergan, Inc.	$	103,752
	2,200		Alltel Corp.		148,610
	43,200		AT&T, Inc.		1,792,800
	3,200	@	Avaya, Inc.		53,888
	2,300		CenturyTel, Inc.		112,815
	40,600	@	Cisco Systems, Inc.		1,130,710
	5,200		Citizens Communications Co.		79,404
	10,200	@	Corning, Inc.		260,610
	1,600		Embarq Corp.		101,392
	4,100	@	Juniper Networks, Inc.		103,197
	15,500		Motorola, Inc.		274,350
	11,500		Qualcomm, Inc.		498,985
	13,700	@	Qwest Communications International, Inc.		132,890
	19,200		Sprint Nextel Corp.		397,632
	4,500	@	Tellabs, Inc.		48,420
	18,500		Verizon Communications, Inc.		761,645
					6,001,100
	Toys/Games/Hobbies: 0.1%
	2,300		Hasbro, Inc.		72,243
	4,400		Mattel, Inc.		111,276
					183,519
	Transportation: 1.0%
	2,100		Burlington Northern Santa Fe Corp.		178,794
	900		CH Robinson Worldwide, Inc.		47,268
	2,900		CSX Corp.		130,732
	2,100		FedEx Corp.		233,037
	3,000		Norfolk Southern Corp.		157,710
	900		Ryder System, Inc.		48,420
	1,800		Union Pacific Corp.		207,270
	5,600		United Parcel Service, Inc.		408,800
					1,412,031
			Total Common Stock
			(Cost $ 89,542,678 )		89,019,317
Principal Amount				Value
	U.S. GOVERNMENT AGENCY OBLIGATIONS: 25.7%
	Federal National Mortgage Corporation: 25.7%
$	20,000,000	^	6.210%, due 05/15/14	$	13,953,300
	31,500,000	Z	6.260%, due 07/05/14		21,786,471
			Total U.S. Government Agency Obligations (Cost $ 35,457,337 )		35,739,771
	U.S. TREASURY OBLIGATIONS: 9.8%
	U.S. Treasury STRIP: 9.8%
	19,090,000	^	5.800%, due 05/15/14		13,588,797
			Total U.S. Treasury Obligations (Cost $ 13,522,676 )		13,588,797
			Total Long-Term Investments (Cost $138,522,691)		138,347,885

See Accompanying Notes to Financial Statements

133

ING GET U.S. CORE PORTFOLIO SERIES 14 PORTFOLIO OF INVESTMENTS ASOF JUNE 30, 2007 (UNAUDITED) (CONTINUED)

Principal Amount					Value
	SHORT-TERM INVESTMENTS: 0.1%
	Repurchase Agreement: 0.1%
$	164,000	Morgan Stanley Repurchase Agreement dated 06/29/07, 5.300%, due 07/02/07, $164,072 to be received upon repurchase (Collateralized by $355,000 Resolution Funding Corporation, Discount Note, Market Value $169,197, due 01/15/21)			$	164,000
		Total Short-Term Investments (Cost $164,000)				164,000
		Total Investments in Securities (Cost $138,686,691)*	99.7	%	$	138,511,885
		Other Assets and Liabilities - Net	0.3			416,199
		Net Assets	100.0	%	$	138,928,084

@ Non-income producing security

@@ Foreign Issuer

STRIP Separate Trading of Registered Interest and Principal of Securities

^ Interest Only (IO) Security

Z Indicates Zero Coupon Bond; rate shown reflects effective yield on the date of purchase

* Cost for federal income tax purposes is the same as for financial statement purposes.

Net unrealized depreciation consists of:
Gross Unrealized Appreciation	$	997,820
Gross Unrealized Depreciation		(1,172,626	)
Net Unrealized Depreciation	$	(174,806	)

See Accompanying Notes to Financial Statements

134

ADVISORY CONTRACT APPROVAL DISCUSSION (UNAUDITED)

BOARD CONSIDERATION AND APPROVAL OF NEW INVESTMENT MANAGEMENT AND SUB-ADVISORY AGREEMENTS FOR ING GET U.S. CORE PORTFOLIO

Section 15 of the Investment Company Act of 1940 (the “1940 Act”) mandates that, when a series of ING Variable Insurance Trust (“IVIT”) enters into a new advisory or sub-advisory arrangement, the Board of Trustees (the “Board”) of IVIT, including a majority of the Trustees who have no direct or indirect interest in the Investment Management and Sub-Advisory Agreements governing those arrangements, and who are not “interested persons” of the series, as such term is defined under the 1940 Act (the “IVIT Non-Interested Trustees”), must approve the new arrangement. Therefore, in order for a new series of IVIT to be launched, the Board must approve an Investment Management Agreement and Sub-Advisory Agreement for that series prior to the commencement of its operations.

At a meeting held on January 19, 2006, the Board considered the approval of new Management and Sub-Advisory Agreements for ING GET U.S. Core Portfolio – Series 14 (“GET U.S. Core Portfolio” or the “Portfolio”), a new series of IVIT with an Offering Period that ran from December 21, 2006 to June 20, 2007. GET U.S. Core Portfolio commenced its Offering Period on June 21, 2007.

After its deliberations, the Board voted to approve the Management and Sub-Advisory Agreements for GET U.S. Core Portfolio for an initial term that ends on November 30, 2007. In reaching this decision, the Board took into account information furnished throughout the year at regular Board meetings with respect to ING Investments, LLC (“ING Investments”), GET U.S. Core Portfolio’s investment adviser, and ING Investment Management Co. (“ING IM”), its sub-adviser, as well as information prepared specifically in connection with the Board’s deliberations with respect to the approval of the advisory and sub-advisory arrangements for GET U.S. Core Portfolio. The Board’s determination took into account a number of factors that its members believed, in light of the legal advice furnished to them by Kirkpatrick & Lockhart Preston Gates Ellis LLP (formerly named Kirkpatrick & Lockhart Nicholson Graham LLP) (“K&LNG”), their independent legal counsel, and their own business judgment, to be relevant. Further, while the Portfolio’s Investment Management Agreement and Sub-Advisory Agreement were considered at the same Board meeting, the Trustees considered the Portfolio’s advisory and sub-advisory relationships separately.

Provided below is a discussion of certain factors the Board considered at the January 19, 2006 meeting in considering the new advisory and sub-advisory arrangements for GET U.S. Core Portfolio. While the Board gave its attention to the information furnished, at its request, that was most relevant to its deliberations, discussed below are a number of the primary factors relevant to the Board’s consideration as to whether to approve the Investment Management and Sub-Advisory Agreements for GET U.S. Core Portfolio’s initial term ending November 30, 2007. Each Trustee may have accorded different weight to the various factors in reaching his or her conclusions with respect to GET U.S. Core Portfolio’s advisory and sub-advisory arrangements.

Overview of the Contract Approval Process

In 2003, the Board determined to undertake steps to further enhance the process under which the Board determines whether to approve new advisory and sub-advisory arrangements. Among the measures the Board implemented was to retain the services of an independent consultant with experience in the mutual fund industry to assist the IVIT Non-Interested Trustees in working with the personnel employed by ING Investments, or its affiliates who administer GET U.S. Core Portfolio (“Management”), to identify the types of information presented to the Trustees when considering advisory and sub-advisory relationships and to establish the format in which the information requested by the Board in this context is provided to the Board. The end result was the implementation of the current process relied upon by the Board to analyze information in connection with its review and approval of new advisory and sub-advisory relationships.

Since this process was implemented, the Board has continuously reviewed and refined the process. In addition, the Board established a Contracts Committee and two Investment Review Committees, including the International/Balance/Fixed Income Fund Investment Review Committee (formerly named the International Equity and Fixed Income Fund Investment Review Committee) (the “IE & FI IRC”). The type and format of the information provided to the Board or its counsel to inform deliberations with respect to Investment Management and Sub-Advisory Agreements has been codified in the ING Funds 15(c) Methodology Guide (the “Methodology Guide”). The Methodology Guide was developed under the direction of the Board, and sets out a written blueprint under which

135

ADVISORY CONTRACT APPROVAL DISCUSSION (UNAUDITED) (CONTINUED)

the Board requests certain information necessary to facilitate a thorough and informed review in connection with deliberations regarding advisory and sub-advisory relationships. Management provides certain Portfolio-specific information to the Board based on the Methodology Guide through “Fund Analysis and Comparison Tables” or “FACT” sheets prior to the Board’s review of new Investment Management and Sub-Advisory Agreements.

On its own and as part of a regular on-going process, the Board’s Contracts Committee recommends or considers recommendations from Management for refinements and other changes to the Methodology Guide. The Investment Review Committees, including the IE & FI IRC, also meet regularly with ING Investments and ING IM. The Board employed its process for reviewing contracts when considering whether to approve the Portfolio’s Investment Management and Sub-Advisory Agreements.

Nature, Extent and Quality of Service

In determining whether to approve GET U.S. Core Portfolio’s Investment Management and Sub-Advisory Agreements for its initial term ending November 30, 2007, the Board received and evaluated such information as it deemed necessary regarding the nature, extent and quality of services to be provided to the Portfolio by ING Investments and ING IM. This included information about ING Investments and ING IM provided throughout the year at regular Board meetings in the context of their services to other Funds in the ING Funds complex, as well as information furnished for the January 19, 2006 meeting.

The materials requested by and provided to the Board and/or its legal counsel prior to the January 19, 2006 meeting included the following items: (1) FACT sheets for GET U.S. Core Portfolio that provide information about the proposed expenses of the Portfolio and other, similarly managed funds in a selected peer group (“Selected Peer Group”), as well as information about the Portfolio’s proposed objective and strategies; (2) responses to a detailed series of questions from K&LNG, legal counsel to the IVIT Non-Interested Trustees; (3) copies of the forms of proposed Investment Management Agreement and Sub-Advisory Agreement; (4) drafts of a narrative summary addressing key factors the Board could consider in determining whether to approve the new Investment Management and Sub-Advisory Agreements; and (5) other information relevant to the Board’s evaluations.

In arriving at its conclusions with respect to the advisory arrangements with ING Investments, the Board was mindful of the “manager-of-managers” platform of the ING Funds. The Board considered the techniques that ING Investments developed, in response to the direction of the Board, to screen and perform due diligence on sub-advisers that are recommended to the Board to manage the Funds in the ING Funds complex.

The Board reviewed the level of staffing, quality and experience of GET U.S. Core Portfolio’s proposed portfolio management team. The Board took into account the respective resources and reputations of ING Investments and ING IM, and evaluated the ability of ING Investments and ING IM to attract and retain qualified investment advisory personnel.

Based on their deliberations and the materials presented to them, the Board concluded that the advisory and related services to be provided by ING Investments and ING IM would be appropriate in light of GET U.S. Core Portfolio’s anticipated operations, the competitive landscape of the investment company business, and investor needs, and that the nature and quality of the overall services provided by ING Investments and ING IM would be appropriate.

Economies of Scale

In considering the reasonableness of the proposed advisory fees, the Board considered whether economies of scale will be realized by ING Investments as the Portfolio grows larger and the extent to which this is reflected in the level of management fee rate to be charged. As GET U.S. Core Portfolio does not have breakpoint discounts on advisory fees, but does benefit from limits on expenses, the Board also considered the extent to which economies of scale could effectively be realized through such expense reductions.

Fee Rate and Profitability

The Board reviewed and considered the Portfolio’s proposed contractual investment advisory fee rate, combined with the administrative fee rate, payable to ING Investments. The Board also considered the proposed contractual sub-advisory fee rate payable by ING Investments to ING IM for sub-advisory services.

136

ADVISORY CONTRACT APPROVAL DISCUSSION (UNAUDITED) (CONTINUED)

The Board considered GET U.S. Core Portfolio’s fee structure as it relates to the services to be provided under the proposed Agreements, and the potential fall-out benefits to the ING Investments and ING IM, and their respective affiliates, from their association with GET U.S. Core Portfolio. The Board determined that the fees payable to ING Investments and ING IM are reasonable for their services to the Portfolio, which were considered in light of the nature and quality of the services that each is expected to perform through the initial term ending November 30, 2007.

For each Portfolio, the Board considered information on estimated revenues, costs and profits for ING Investments projected for the first two years of the Portfolio’s operations. In analyzing the projected profitability of ING Investments in connection with its services to a Portfolio, the Board took into account the sub-advisory fee rate payable by the ING Investments to ING IM. The Board also considered information that it requested and was provided by Management with respect to the profitability of service providers affiliated with ING Investments.

The Board determined that it had requested and received sufficient information to gain a reasonable understanding regarding ING Investments’ profitability. The Board also recognized that profitability analysis is not an exact science and there is no uniform methodology for determining profitability for this purpose. In this context, the Board realized that Management’s calculations regarding its costs incurred in establishing the infrastructure necessary for the Portfolio’s operations may not be fully reflected in the expenses allocated to the Portfolio in determining profitability, and that the information presented may not portray all of the costs borne by Management nor capture Management’s entrepreneurial risk associated with offering and managing a mutual fund complex in today’s regulatory environment.

Based on the information on revenues, costs, and ING Investments’ profitability considered by the Board, after considering the factors described in this section the Board concluded that the profits, if any, to be realized by ING Investments would not be excessive.

Other Factors Considered

The following paragraphs outline certain of the specific factors that the Board considered, and the conclusions reached, at its January 19, 2006 meeting in relation to approving the Investment Management and Sub-Advisory Agreements for GET U.S. Core Portfolio’s initial term ending November 30, 2007. These specific factors are in addition to those considerations discussed above. The Portfolio’s proposed management fee and estimated expense ratio were compared to the fees and expense ratios of the funds in its Selected Peer Group.

In determining whether to approve the Investment Management and Sub-Advisory Agreements for GET U.S. Core Portfolio, the Board received and evaluated such information as it deemed necessary for an informed determination of whether each Agreement, and the proposed policies and procedures for GET U.S. Core Portfolio, should be approved. The materials provided to the Board and/or its legal counsel in support of the proposed advisory and sub-advisory arrangements included the following: (1) a memorandum presenting Management’s rationale for requesting the launch of GET U.S. Core Portfolio that discusses, among other things, the performance of ING IM in managing similar GET portfolios, with such performance being compared against the Portfolio’s Morningstar Category average and proposed primary benchmark; (2) information about GET U.S. Core Portfolio’s proposed investment objective and strategies and anticipated portfolio characteristics; (3) FACT sheets for the Portfolio that compare its performance against that of the Portfolio’s Selected Peer Group and its Morningstar category median; (4) responses from ING Investments and ING IM to questions posed by K&LNG, independent legal counsel, on behalf of the IVIT Non-Interested Trustees; (5) supporting documentation, including copies of the forms of Investment Management and Sub-Advisory Agreements for GET U.S. Core Portfolio; and (6) other information relevant to the Board’s evaluation. In addition, the Board considered the information provided periodically throughout the year in presentations to the Board by ING Investments in the context of ING Investments’ oversight of other sub-advisers managing Funds in the ING Funds complex, and by ING IM in connection with its management of other Funds in the complex, including other GET products.

At the January 19, 2006 meeting, the Board considered that GET U.S. Core Portfolio would be subject to the standard policies and procedures of IVIT previously approved by the Board for other Series of IVIT and approved in accordance with Rule 38a-1 under the 1940 Act. The Board also noted that, in managing GET U.S. Core Portfolio, ING

137

ADVISORY CONTRACT APPROVAL DISCUSSION (UNAUDITED) (CONTINUED)

Investments and ING IM each would be subject to procedures adopted pursuant to Rule 206(4)-7 under the Investment Advisers Act of 1940 that had been previously approved by the Board in connection with other Funds.

The Board’s consideration of whether to approve the Investment Management Agreement with ING Investments on behalf of GET U.S. Core Portfolio took into account several factors including, but not limited to, the following: (1) the nature and quality of the services to be provided by ING Investments to GET U.S. Core Portfolio under the proposed Investment Management Agreement; (2) ING Investments’ experience as a manager-of-managers overseeing sub-advisers to other Funds within the ING Funds complex, including its oversight of ING IM in managing other GET Fund offerings; (3) ING Investments’ strength and reputation within the industry; (4) the fairness of the compensation under the proposed Investment Management Agreement in light of the services to be provided to GET U.S. Core Portfolio and taking into account the sub-advisory fees payable by ING Investments to ING IM; (5) the fairness of ING Investments’ compensation under an Investment Management Agreement with level fees that does not include breakpoints; (6) the pricing structure (including the estimated expense ratio to be borne by shareholders) of GET U.S. Core Portfolio as compared to other similarly-managed funds in its Selected Peer Group, including Management’s analysis that: (a) the proposed management fee (inclusive of a 0.055% administration fee) is above the median and average management fees of the funds in the Portfolio’s Selected Peer Group; and (b) the estimated expense ratio for GET U.S. Core Portfolio is equal to the median and above the average expense ratios of the funds in the Portfolio’s Selected Peer Group; (7) the projected profitability of ING Investments when sub-advisory fees payable by ING Investments to ING IM are taken into account; (8) the personnel, operations, financial condition, and investment management capabilities, methodologies and resources of ING Investments, including its management team’s expertise in the management of other Funds in the ING Funds complex; (9) ING Investments’ compliance capabilities, as demonstrated by, among other things, its policies and procedures designed to prevent violations of the Federal securities laws, which had previously been approved by the Board in connection with their oversight of other Funds in the ING Funds complex; (10) the information that had been provided by ING Investments at regular Board meetings, and in anticipation of the January meeting, with respect to its capabilities as a manager-of-managers; and (11) “fall-out” benefits to ING Investments and its affiliates that were anticipated to arise from ING Investments’ management of GET U.S. Core Portfolio.

In reviewing the proposed Sub-Advisory Agreement with ING IM, the Board considered a number of factors, including, but not limited to, the following: (1) ING Investments’ view of ING IM’s capabilities in managing in the strategy to be employed by GET U.S. Core Portfolio; (2) ING IM’s strength and reputation in the industry; (3) the nature and quality of the services to be provided by ING IM under the proposed Sub-Advisory Agreement; (4) the performance of other GET Series, compared to the Portfolio’s Morningstar Category average, Morningstar Category median, its proposed primary benchmark and the performance of the funds in GET U.S. Core Portfolio’s Selected Peer Group; (5) the personnel, operations, financial condition, and investment management capabilities, methodologies and resources of ING IM and its fit among the stable of managers in the ING Funds line-up; (6) the fairness of the compensation under the proposed Sub-Advisory Agreement in light of the services to be provided by and the projected profitability of ING IM as GET U.S. Core Portfolio’s sub-adviser; (7) the costs for the services to be provided by ING IM, including that it would charge a level fee with no breakpoints; (8) ING IM’s operations and compliance program, including its policies and procedures intended to assure compliance with the Federal securities laws, which had previously been approved by the Board as part of its oversight of other Funds in the ING Funds complex; (9) ING IM’s financial condition; (10) the appropriateness of the selection of ING IM in light of GET U.S. Core Portfolio’s proposed investment objective and prospective investor base; and (11) ING IM’s Code of Ethics, which has previously been approved for other ING Funds, and related procedures for complying with that Code.

After its deliberation, the Board reached the following conclusions: (1) GET U.S. Core Portfolio’s proposed management fee rate is reasonable in the context of all factors considered by the Board; (2) GET U.S. Core Portfolio’s estimated expense ratio is reasonable in the context of all factors considered by the Board; (3) the sub-advisory fee rate payable by ING Investments to ING IM is reasonable in the context of all factors considered by the Board; and (4) each of ING Investments and ING IM maintains an appropriate compliance program, with this conclusion based upon the Board’s previous and ongoing review of the compliance program. Based on these conclusions and other factors, the Board voted to approve the Investment Management and Sub-Advisory Agreements for GET U.S. Core Portfolio. During its deliberations, different Board members may have given different weight to different individual factors and related conclusions.

138

Investment Adviser

ING Investments, LLC

7337 East Doubletree Ranch Road

Scottsdale, Arizona 85258

Administrator

ING Funds Services, LLC

7337 East Doubletree Ranch Road

Scottsdale, Arizona 85258

Transfer Agent

DST Systems, Inc.

P.O. Box 219368

Kansas City, Missouri 64141

Custodian

The Bank of New York Mellon Corporation

One Wall Street

New York, New York 10286

Legal Counsel

Dechert LLP

1775 I Street, N.W.

Washington, D.C. 20006

Before investing, carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and the underlying variable investment options. This and other information is contained in the prospectus for the variable annuity contract and the underlying variable investment options. Obtain these prospectuses from your agent/registered representative and read them carefully before investing.

VPSAR-UGCORE (0607-082307)

ITEM 2.CODE OF ETHICS.

Not required for semi-annual filing.

ITEM 3.AUDIT COMMITTEE FINANCIAL EXPERT.

Not required for semi-annual filing.

ITEM 4.PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not required for semi-annual filing.

ITEM 5.AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not required for semi-annual filing.

ITEM 6.SCHEDULE OF INVESTMENTS.

Schedule is included as part of the report to shareholders filed under Item 1 of this Form.

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.

The Board has a Nominating Committee for the purpose of considering and presenting to the Board candidates it proposes for nomination to fill Independent Trustee vacancies on the Board.  The Committee currently consists of all Independent Trustees of the Board (6 individuals).  The Nominating Committee operates pursuant to a Charter approved by the Board. The primary purpose of the Nominating Committee is to consider and present to the Board the candidates it proposes for nomination to fill vacancies on the Board. In evaluating candidates, the Nominating Committee may consider a variety of factors, but it has not at this time set any specific minimum qualifications that must be met.  Specific qualifications of candidates for Board membership will be based on the needs of the Board at the time of nomination.

The Nominating Committee is willing to consider nominations received from shareholders and shall assess shareholder nominees in the same manner as it reviews its own nominees.  A shareholder nominee for director should be submitted in writing to the Fund’s Secretary. Any such shareholder nomination should include at a minimum the following information as to each individual proposed for nomination as trustee: such individual’s written consent to be named in the proxy statement as a nominee (if nominated) and to serve as a trustee (if elected), and all information relating to such individual that is required to be disclosed in the solicitation of proxies for election of trustees, or is otherwise required, in each case under applicable federal securities laws, rules and regulations.

The Secretary shall submit all nominations received in a timely manner to the Nominating Committee.  To be timely, any such submission must be delivered to the Fund’s Secretary not earlier than the 90th day prior to such meeting and not later than the close of business on the later of the 60th day prior to such meeting or the 10th day following the day on which public announcement of the date of the meeting is first made, by either disclosure in a press release or in a document publicly filed by the Fund with the Securities and Exchange Commission.

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.EXHIBITS.

(a)(1)The Code of Ethics is not required for the semi-annual filing.

(a)(2)A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT.

(a)(3)Not required for semi-annual filing.

(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): ING Variable Insurance Trust

By	/s/ Shaun P. Mathews
	Shaun P. Mathews
	President and Chief Executive Officer
Date:	September 5, 2007

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/ Shaun P. Mathews
	Shaun P. Mathews
	President and Chief Executive Officer
Date:	September 5, 2007
By	/s/ Todd Modic
	Todd Modic
	Senior Vice President and Chief Financial Officer
Date:	September 5, 2007