PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
1
Voya
VACS
Index
Series
S
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
98
.1
%
Communication
Services
:
8
.7
%
63,208
Activision
Blizzard,
Inc.
$
5,918,165
0
.2
524,194
(1)
Alphabet,
Inc.
—
Class
A
68,596,027
2
.1
445,903
(1)
Alphabet,
Inc.
—
Class
C
58,792,311
1
.8
631,631
AT&T,
Inc.
9,487,098
0
.3
8,992
(1)
Charter
Communications,
Inc.
—
Class
A
3,954,861
0
.1
363,631
Comcast
Corp.
—
Class
A
16,123,398
0
.5
21,781
Electronic
Arts,
Inc.
2,622,432
0
.1
22,414
Fox
Corp.
—
Class
A
699,317
0.0
11,656
Fox
Corp.
—
Class
B
336,625
0.0
34,010
Interpublic
Group
of
Cos.,
Inc.
974,727
0.0
12,527
(1)
Live
Nation
Entertainment,
Inc.
1,040,242
0.0
24,672
(1)
Match
Group,
Inc.
966,526
0.0
196,370
(1)
Meta
Platforms,
Inc.
—
Class
A
58,952,238
1
.8
39,153
(1)
Netflix,
Inc.
14,784,173
0
.5
33,752
News
Corp.
—
Class
A
677,065
0.0
10,405
News
Corp.
—
Class
B
217,152
0.0
17,456
Omnicom
Group,
Inc.
1,300,123
0
.1
42,605
(2)
Paramount
Global
—
Class
B
549,604
0.0
13,955
(1)
Take-Two
Interactive
Software,
Inc.
1,959,142
0
.1
45,735
(1)
T-Mobile
US,
Inc.
6,405,187
0
.2
371,437
Verizon
Communications,
Inc.
12,038,273
0
.4
161,665
(1)
Walt
Disney
Co.
13,102,948
0
.4
195,967
(1)
Warner
Bros
Discovery,
Inc.
2,128,202
0
.1
281,625,836
8
.7
Consumer
Discretionary
:
10
.7
%
37,670
(1)
Airbnb,
Inc.
—
Class
A
5,168,701
0
.2
802,205
(1)
Amazon.com,
Inc.
101,976,300
3
.2
24,988
(1)
Aptiv
PLC
2,463,567
0
.1
1,604
(1)
AutoZone,
Inc.
4,074,144
0
.1
20,285
Bath
&
Body
Works,
Inc.
685,633
0.0
17,159
Best
Buy
Co.,
Inc.
1,192,036
0.0
3,153
(1)
Booking
Holdings,
Inc.
9,723,694
0
.3
20,765
BorgWarner,
Inc.
838,283
0.0
19,067
(1)
Caesars
Entertainment,
Inc.
883,755
0.0
14,017
(1)
CarMax,
Inc.
991,422
0.0
88,991
(1)
Carnival
Corp.
1,220,956
0.0
2,437
(1)
Chipotle
Mexican
Grill,
Inc.
4,464,170
0
.1
10,679
Darden
Restaurants,
Inc.
1,529,446
0
.1
19,413
Dollar
General
Corp.
2,053,895
0
.1
18,422
(1)
Dollar
Tree,
Inc.
1,961,022
0
.1
3,101
Domino's
Pizza,
Inc.
1,174,628
0.0
26,900
DR
Horton,
Inc.
2,890,943
0
.1
47,017
eBay,
Inc.
2,072,980
0
.1
10,929
(1)
Etsy,
Inc.
705,795
0.0
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Consumer
Discretionary:
(continued)
12,179
(1)
Expedia
Group,
Inc.
$
1,255,290
0.0
347,346
Ford
Motor
Co.
4,314,037
0
.1
13,559
Garmin
Ltd.
1,426,407
0
.1
121,564
General
Motors
Co.
4,007,965
0
.1
12,408
Genuine
Parts
Co.
1,791,467
0
.1
11,544
Hasbro,
Inc.
763,520
0.0
23,105
Hilton
Worldwide
Holdings,
Inc.
3,469,909
0
.1
88,827
Home
Depot,
Inc.
26,839,966
0
.8
29,117
Las
Vegas
Sands
Corp.
1,334,723
0
.1
22,311
Lennar
Corp.
—
Class
A
2,503,964
0
.1
23,639
LKQ
Corp.
1,170,367
0.0
51,773
Lowe's
Cos.,
Inc.
10,760,500
0
.3
22,134
Marriott
International,
Inc.
—
Class
A
4,350,659
0
.1
64,388
McDonald's
Corp.
16,962,375
0
.5
24,801
MGM
Resorts
International
911,685
0.0
4,683
(1)
Mohawk
Industries,
Inc.
401,848
0.0
108,238
NIKE,
Inc.
—
Class
B
10,349,718
0
.3
37,581
(1)
Norwegian
Cruise
Line
Holdings
Ltd.
619,335
0.0
288
(1)
NVR,
Inc.
1,717,430
0
.1
5,337
(1)
O'Reilly
Automotive,
Inc.
4,850,586
0
.2
3,459
Pool
Corp.
1,231,750
0.0
19,388
PulteGroup,
Inc.
1,435,681
0
.1
3,568
Ralph
Lauren
Corp.
414,209
0.0
30,098
Ross
Stores,
Inc.
3,399,569
0
.1
20,823
(1)
Royal
Caribbean
Cruises
Ltd.
1,918,631
0
.1
101,199
Starbucks
Corp.
9,236,433
0
.3
20,537
Tapestry,
Inc.
590,439
0.0
40,780
Target
Corp.
4,509,045
0
.1
243,974
(1)
Tesla,
Inc.
61,047,174
1
.9
101,538
TJX
Cos.,
Inc.
9,024,697
0
.3
9,613
Tractor
Supply
Co.
1,951,920
0
.1
4,400
(1)
Ulta
Beauty,
Inc.
1,757,580
0
.1
29,270
VF
Corp.
517,201
0.0
4,852
Whirlpool
Corp.
648,712
0.0
8,557
Wynn
Resorts
Ltd.
790,752
0.0
24,757
Yum!
Brands,
Inc.
3,093,140
0
.1
347,440,054
10
.7
Consumer
Staples
:
6
.2
%
156,791
Altria
Group,
Inc.
6,593,062
0
.2
47,366
Archer-Daniels-Midland
Co.
3,572,344
0
.1
16,205
Brown-Forman
Corp.
—
Class
B
934,866
0.0
13,343
Bunge
Ltd.
1,444,380
0
.1
17,382
Campbell
Soup
Co.
714,053
0.0
21,642
Church
&
Dwight
Co.,
Inc.
1,983,057
0
.1
10,953
Clorox
Co.
1,435,500
0
.1
343,859
Coca-Cola
Co.
19,249,227
0
.6
73,040
Colgate-Palmolive
Co.
5,193,874
0
.2
42,254
Conagra
Brands,
Inc.
1,158,605
0.0
14,252
Constellation
Brands,
Inc.
—
Class
A
3,581,955
0
.1
39,153
Costco
Wholesale
Corp.
22,119,879
0
.7
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
2
Voya
VACS
Index
Series
S
Portfolio
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Consumer
Staples:
(continued)
20,486
Estee
Lauder
Cos.,
Inc.
—
Class
A
$
2,961,251
0
.1
51,702
General
Mills,
Inc.
3,308,411
0
.1
13,240
Hershey
Co.
2,649,059
0
.1
25,664
Hormel
Foods
Corp.
976,002
0.0
9,021
J
M
Smucker
Co.
1,108,771
0.0
22,776
Kellogg
Co.
1,355,400
0.0
152,267
Kenvue,
Inc.
3,057,521
0
.1
88,885
Keurig
Dr
Pepper,
Inc.
2,806,099
0
.1
29,892
Kimberly-Clark
Corp.
3,612,448
0
.1
70,676
Kraft
Heinz
Co.
2,377,541
0
.1
57,861
Kroger
Co.
2,589,280
0
.1
12,909
Lamb
Weston
Holdings,
Inc.
1,193,566
0.0
22,224
McCormick
&
Co.,
Inc.
1,681,023
0
.1
16,399
Molson
Coors
Beverage
Co.
—
Class
B
1,042,812
0.0
120,196
Mondelez
International,
Inc.
—
Class
A
8,341,602
0
.3
65,711
(1)
Monster
Beverage
Corp.
3,479,397
0
.1
121,624
PepsiCo,
Inc.
20,607,971
0
.6
137,153
Philip
Morris
International,
Inc.
12,697,625
0
.4
208,273
Procter
&
Gamble
Co.
30,378,700
0
.9
44,628
Sysco
Corp.
2,947,679
0
.1
25,304
Tyson
Foods,
Inc.
—
Class
A
1,277,599
0.0
63,448
Walgreens
Boots
Alliance,
Inc.
1,411,084
0
.1
126,097
Walmart,
Inc.
20,166,693
0
.6
200,008,336
6
.2
Energy
:
4
.6
%
27,148
APA
Corp.
1,115,783
0.0
89,205
Baker
Hughes
Co.
3,150,721
0
.1
156,760
Chevron
Corp.
26,432,871
0
.8
105,801
ConocoPhillips
12,674,960
0
.4
66,923
Coterra
Energy,
Inc.
1,810,267
0
.1
56,607
Devon
Energy
Corp.
2,700,154
0
.1
15,799
Diamondback
Energy,
Inc.
2,446,949
0
.1
51,444
EOG
Resources,
Inc.
6,521,041
0
.2
32,041
EQT
Corp.
1,300,224
0.0
353,691
Exxon
Mobil
Corp.
41,586,988
1
.3
79,389
Halliburton
Co.
3,215,254
0
.1
24,416
Hess
Corp.
3,735,648
0
.1
171,271
Kinder
Morgan,
Inc.
2,839,673
0
.1
53,514
Marathon
Oil
Corp.
1,431,500
0.0
35,327
Marathon
Petroleum
Corp.
5,346,388
0
.2
58,623
Occidental
Petroleum
Corp.
3,803,460
0
.1
51,451
ONEOK,
Inc.
3,263,537
0
.1
39,342
Phillips
66
4,726,941
0
.1
20,599
Pioneer
Natural
Resources
Co.
4,728,500
0
.2
125,565
Schlumberger
NV
7,320,440
0
.2
19,765
Targa
Resources
Corp.
1,694,256
0
.1
31,200
Valero
Energy
Corp.
4,421,352
0
.1
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Energy:
(continued)
107,474
Williams
Cos.,
Inc.
$
3,620,799
0
.1
149,887,706
4
.6
Financials
:
10
.4
%
47,763
Aflac,
Inc.
3,665,810
0
.1
23,111
Allstate
Corp.
2,574,796
0
.1
51,404
American
Express
Co.
7,668,963
0
.2
62,898
American
International
Group,
Inc.
3,811,619
0
.1
9,067
Ameriprise
Financial,
Inc.
2,989,209
0
.1
17,924
Aon
PLC
—
Class
A
5,811,319
0
.2
32,997
(1)
Arch
Capital
Group
Ltd.
2,630,191
0
.1
18,978
Arthur
J
Gallagher
&
Co.
4,325,655
0
.1
4,709
Assurant,
Inc.
676,118
0.0
610,810
Bank
of
America
Corp.
16,723,978
0
.5
68,807
Bank
of
New
York
Mellon
Corp.
2,934,619
0
.1
161,126
(1)
Berkshire
Hathaway,
Inc.
—
Class
B
56,442,438
1
.8
12,400
BlackRock,
Inc.
8,016,476
0
.3
62,708
Blackstone,
Inc.
6,718,535
0
.2
20,859
Brown
&
Brown,
Inc.
1,456,793
0
.1
33,701
Capital
One
Financial
Corp.
3,270,682
0
.1
9,354
Cboe
Global
Markets,
Inc.
1,461,188
0
.1
131,379
Charles
Schwab
Corp.
7,212,707
0
.2
36,289
Chubb
Ltd.
7,554,644
0
.2
13,859
Cincinnati
Financial
Corp.
1,417,637
0.0
170,140
Citigroup,
Inc.
6,997,858
0
.2
41,728
Citizens
Financial
Group,
Inc.
1,118,310
0.0
31,784
CME
Group,
Inc.
6,363,792
0
.2
11,666
Comerica,
Inc.
484,722
0.0
22,083
Discover
Financial
Services
1,913,050
0
.1
3,799
Everest
Re
Group
Ltd.
1,411,974
0.0
3,370
FactSet
Research
Systems,
Inc.
1,473,566
0
.1
52,346
Fidelity
National
Information
Services,
Inc.
2,893,163
0
.1
60,311
Fifth
Third
Bancorp
1,527,678
0
.1
53,861
(1)
Fiserv,
Inc.
6,084,139
0
.2
25,294
Franklin
Resources,
Inc.
621,726
0.0
22,971
Global
Payments,
Inc.
2,650,624
0
.1
7,683
Globe
Life,
Inc.
835,373
0.0
29,127
Goldman
Sachs
Group,
Inc.
9,424,623
0
.3
27,020
Hartford
Financial
Services
Group,
Inc.
1,915,988
0
.1
127,904
Huntington
Bancshares,
Inc.
1,330,202
0.0
50,567
Intercontinental
Exchange,
Inc.
5,563,381
0
.2
39,637
Invesco
Ltd.
575,529
0.0
256,759
JPMorgan
Chase
&
Co.
37,235,190
1
.2
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
3
Voya
VACS
Index
Series
S
Portfolio
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Financials:
(continued)
82,864
KeyCorp
$
891,617
0.0
16,338
Loews
Corp.
1,034,359
0.0
14,675
M&T
Bank
Corp.
1,855,654
0
.1
3,337
MarketAxess
Holdings,
Inc.
712,917
0.0
43,642
Marsh
&
McLennan
Cos.,
Inc.
8,305,073
0
.3
55,812
MetLife,
Inc.
3,511,133
0
.1
13,943
Moody's
Corp.
4,408,358
0
.1
112,726
Morgan
Stanley
9,206,332
0
.3
6,988
MSCI,
Inc.
3,585,403
0
.1
30,002
Nasdaq,
Inc.
1,457,797
0
.1
18,289
Northern
Trust
Corp.
1,270,720
0.0
35,187
PNC
Financial
Services
Group,
Inc.
4,319,908
0
.1
19,648
Principal
Financial
Group,
Inc.
1,416,031
0.0
51,716
Progressive
Corp.
7,204,039
0
.2
32,072
Prudential
Financial,
Inc.
3,043,312
0
.1
16,607
Raymond
James
Financial,
Inc.
1,667,841
0
.1
83,134
Regions
Financial
Corp.
1,429,905
0.0
28,750
S&P
Global,
Inc.
10,505,537
0
.3
28,153
State
Street
Corp.
1,885,125
0
.1
36,947
Synchrony
Financial
1,129,470
0.0
19,817
T
Rowe
Price
Group,
Inc.
2,078,209
0
.1
20,228
Travelers
Cos.,
Inc.
3,303,435
0
.1
117,683
Truist
Financial
Corp.
3,366,911
0
.1
137,561
US
Bancorp
4,547,767
0
.1
17,791
W.
R.
Berkley
Corp.
1,129,551
0.0
323,262
Wells
Fargo
&
Co.
13,208,485
0
.4
9,261
Willis
Towers
Watson
PLC
1,935,179
0
.1
13,122
Zions
Bancorp
NA
457,827
0.0
336,652,160
10
.4
Health
Care
:
13
.1
%
153,323
Abbott
Laboratories
14,849,333
0
.5
155,946
AbbVie,
Inc.
23,245,311
0
.7
26,097
Agilent
Technologies,
Inc.
2,918,167
0
.1
6,289
(1)
Align
Technology,
Inc.
1,920,157
0
.1
14,729
AmerisourceBergen
Corp.
2,650,778
0
.1
47,260
Amgen,
Inc.
12,701,598
0
.4
44,818
Baxter
International,
Inc.
1,691,431
0
.1
25,632
Becton
Dickinson
and
Co.
6,626,641
0
.2
12,795
(1)
Biogen,
Inc.
3,288,443
0
.1
1,845
(1)
Bio-Rad
Laboratories,
Inc.
—
Class
A
661,340
0.0
13,949
Bio-Techne
Corp.
949,508
0.0
129,367
(1)
Boston
Scientific
Corp.
6,830,578
0
.2
184,577
Bristol-Myers
Squibb
Co.
10,712,849
0
.3
22,494
Cardinal
Health,
Inc.
1,952,929
0
.1
15,956
(1)
Catalent,
Inc.
726,477
0.0
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Health
Care:
(continued)
47,841
(1)
Centene
Corp.
$
3,295,288
0
.1
4,535
(1)
Charles
River
Laboratories
International,
Inc.
888,769
0.0
26,151
Cigna
Group
7,481,017
0
.2
4,382
Cooper
Cos.,
Inc.
1,393,520
0.0
113,480
CVS
Health
Corp.
7,923,174
0
.2
58,059
Danaher
Corp.
14,404,438
0
.4
4,758
(1)
DaVita,
Inc.
449,774
0.0
18,825
DENTSPLY
SIRONA,
Inc.
643,062
0.0
34,269
(1)
Dexcom,
Inc.
3,197,298
0
.1
53,711
(1)
Edwards
Lifesciences
Corp.
3,721,098
0
.1
20,820
Elevance
Health,
Inc.
9,065,444
0
.3
70,453
Eli
Lilly
&
Co.
37,842,420
1
.2
34,560
GE
HealthCare
Technologies,
Inc.
2,351,462
0
.1
110,088
Gilead
Sciences,
Inc.
8,249,995
0
.3
17,783
HCA
Healthcare,
Inc.
4,374,262
0
.1
11,537
(1)
Henry
Schein,
Inc.
856,622
0.0
21,641
(1)
Hologic,
Inc.
1,501,885
0
.1
10,947
Humana,
Inc.
5,325,934
0
.2
7,334
(1)
IDEXX
Laboratories,
Inc.
3,206,938
0
.1
14,008
(1)
Illumina,
Inc.
1,923,018
0
.1
16,405
(1)
Incyte
Corp.
947,717
0.0
6,175
(1)
Insulet
Corp.
984,851
0.0
31,045
(1)
Intuitive
Surgical,
Inc.
9,074,143
0
.3
16,179
(1)
IQVIA
Holdings,
Inc.
3,183,218
0
.1
212,754
Johnson
&
Johnson
33,136,436
1
.0
7,850
Laboratory
Corp.
of
America
Holdings
1,578,243
0
.1
11,919
McKesson
Corp.
5,182,977
0
.2
117,611
Medtronic
PLC
9,215,998
0
.3
224,196
Merck
&
Co.,
Inc.
23,080,978
0
.7
1,932
(1)
Mettler-Toledo
International,
Inc.
2,140,791
0
.1
29,046
(1)
Moderna,
Inc.
3,000,161
0
.1
5,165
(1)
Molina
Healthcare,
Inc.
1,693,552
0
.1
22,598
Organon
&
Co.
392,301
0.0
498,834
Pfizer,
Inc.
16,546,324
0
.5
9,924
Quest
Diagnostics,
Inc.
1,209,339
0.0
9,431
(1)
Regeneron
Pharmaceuticals,
Inc.
7,761,336
0
.2
12,982
ResMed,
Inc.
1,919,648
0
.1
10,968
Revvity,
Inc.
1,214,158
0.0
8,716
STERIS
PLC
1,912,465
0
.1
29,863
Stryker
Corp.
8,160,662
0
.3
4,162
Teleflex,
Inc.
817,458
0.0
34,100
Thermo
Fisher
Scientific,
Inc.
17,260,397
0
.5
81,841
UnitedHealth
Group,
Inc.
41,263,414
1
.3
5,490
Universal
Health
Services,
Inc.
—
Class
B
690,258
0.0
22,803
(1)
Vertex
Pharmaceuticals,
Inc.
7,929,515
0
.2
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
4
Voya
VACS
Index
Series
S
Portfolio
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Health
Care:
(continued)
106,234
Viatris,
Inc.
$
1,047,467
0.0
5,230
(1)
Waters
Corp.
1,434,118
0.0
6,526
West
Pharmaceutical
Services,
Inc.
2,448,620
0
.1
18,479
Zimmer
Biomet
Holdings,
Inc.
2,073,713
0
.1
40,670
Zoetis,
Inc.
7,075,767
0
.2
424,196,983
13
.1
Industrials
:
8
.0
%
48,770
3M
Co.
4,565,847
0
.1
11,034
A.
O.
Smith
Corp.
729,678
0.0
11,333
(1)
Alaska
Air
Group,
Inc.
420,228
0.0
7,792
Allegion
PLC
811,926
0.0
57,843
(1)
American
Airlines
Group,
Inc.
740,969
0.0
20,384
AMETEK,
Inc.
3,011,940
0
.1
36,400
Automatic
Data
Processing,
Inc.
8,757,112
0
.3
6,219
(1)
Axon
Enterprise,
Inc.
1,237,519
0.0
50,103
(1)
Boeing
Co.
9,603,743
0
.3
73,966
Carrier
Global
Corp.
4,082,923
0
.1
45,072
Caterpillar,
Inc.
12,304,656
0
.4
13,736
(1)
Ceridian
HCM
Holding,
Inc.
931,988
0.0
10,316
CH
Robinson
Worldwide,
Inc.
888,517
0.0
7,641
Cintas
Corp.
3,675,397
0
.1
76,773
(1)
Copart,
Inc.
3,308,149
0
.1
36,078
(1)
CoStar
Group,
Inc.
2,774,037
0
.1
177,264
CSX
Corp.
5,450,868
0
.2
12,515
Cummins,
Inc.
2,859,177
0
.1
24,091
Deere
&
Co.
9,091,462
0
.3
56,944
Delta
Air
Lines,
Inc.
2,106,928
0
.1
12,391
Dover
Corp.
1,728,668
0
.1
35,253
Eaton
Corp.
PLC
7,518,760
0
.2
50,493
Emerson
Electric
Co.
4,876,109
0
.2
10,866
Equifax,
Inc.
1,990,434
0
.1
13,067
Expeditors
International
of
Washington,
Inc.
1,497,870
0
.1
50,479
Fastenal
Co.
2,758,173
0
.1
20,444
FedEx
Corp.
5,416,024
0
.2
31,102
Fortive
Corp.
2,306,524
0
.1
5,510
(1)
Generac
Holdings,
Inc.
600,370
0.0
19,931
General
Dynamics
Corp.
4,404,153
0
.1
96,161
General
Electric
Co.
10,630,599
0
.3
58,662
Honeywell
International,
Inc.
10,837,218
0
.3
34,599
Howmet
Aerospace,
Inc.
1,600,204
0
.1
3,534
Huntington
Ingalls
Industries,
Inc.
722,986
0.0
6,696
IDEX
Corp.
1,392,902
0.0
24,312
Illinois
Tool
Works,
Inc.
5,599,297
0
.2
35,730
Ingersoll
Rand,
Inc.
2,276,716
0
.1
11,125
Jacobs
Solutions,
Inc.
1,518,562
0
.1
7,213
JB
Hunt
Transport
Services,
Inc.
1,359,795
0.0
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Industrials:
(continued)
60,108
Johnson
Controls
International
PLC
$
3,198,347
0
.1
16,710
L3Harris
Technologies,
Inc.
2,909,545
0
.1
12,153
Leidos
Holdings,
Inc.
1,120,020
0.0
19,802
Lockheed
Martin
Corp.
8,098,226
0
.3
19,943
Masco
Corp.
1,065,953
0.0
4,769
Nordson
Corp.
1,064,298
0.0
20,057
Norfolk
Southern
Corp.
3,949,825
0
.1
12,566
Northrop
Grumman
Corp.
5,531,428
0
.2
7,916
Old
Dominion
Freight
Line,
Inc.
3,238,752
0
.1
36,379
Otis
Worldwide
Corp.
2,921,597
0
.1
46,191
PACCAR,
Inc.
3,927,159
0
.1
11,335
Parker-Hannifin
Corp.
4,415,209
0
.1
14,615
Pentair
PLC
946,321
0.0
12,829
Quanta
Services,
Inc.
2,399,921
0
.1
128,598
Raytheon
Technologies
Corp.
9,255,198
0
.3
18,166
Republic
Services,
Inc.
2,588,837
0
.1
9,461
Robert
Half
International,
Inc.
693,302
0.0
10,148
Rockwell
Automation,
Inc.
2,901,009
0
.1
24,806
Rollins,
Inc.
926,008
0.0
4,690
Snap-on,
Inc.
1,196,231
0.0
52,723
Southwest
Airlines
Co.
1,427,212
0
.1
13,568
Stanley
Black
&
Decker,
Inc.
1,134,013
0.0
17,500
Textron,
Inc.
1,367,450
0.0
20,179
Trane
Technologies
PLC
4,094,521
0
.1
4,876
(1)
TransDigm
Group,
Inc.
4,111,102
0
.1
53,847
Union
Pacific
Corp.
10,964,865
0
.3
29,058
(1)
United
Airlines
Holdings,
Inc.
1,229,153
0.0
63,903
United
Parcel
Service,
Inc.
—
Class
B
9,960,561
0
.3
6,033
United
Rentals,
Inc.
2,682,091
0
.1
12,828
Verisk
Analytics,
Inc.
3,030,487
0
.1
32,567
Waste
Management,
Inc.
4,964,513
0
.2
15,827
Westinghouse
Air
Brake
Technologies
Corp.
1,681,935
0
.1
3,932
WW
Grainger,
Inc.
2,720,315
0
.1
21,199
Xylem,
Inc.
1,929,745
0
.1
260,033,577
8
.0
Information
Technology
:
29
.3
%
55,732
Accenture
PLC
—
Class
A
17,115,854
0
.5
40,271
(1)
Adobe,
Inc.
20,534,183
0
.6
142,678
(1)
Advanced
Micro
Devices,
Inc.
14,670,152
0
.5
13,430
(1)
Akamai
Technologies,
Inc.
1,430,832
0
.1
52,745
Amphenol
Corp.
—
Class
A
4,430,052
0
.1
44,301
Analog
Devices,
Inc.
7,756,662
0
.2
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
5
Voya
VACS
Index
Series
S
Portfolio
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Information
Technology:
(continued)
7,678
(1)
ANSYS,
Inc.
$
2,284,589
0
.1
1,298,441
Apple,
Inc.
222,306,084
6
.9
74,194
Applied
Materials,
Inc.
10,272,159
0
.3
22,124
(1)
Arista
Networks,
Inc.
4,069,267
0
.1
18,883
(1)
Autodesk,
Inc.
3,907,081
0
.1
36,462
Broadcom,
Inc.
30,284,608
0
.9
10,453
Broadridge
Financial
Solutions,
Inc.
1,871,610
0
.1
24,013
(1)
Cadence
Design
Systems,
Inc.
5,626,246
0
.2
11,843
CDW
Corp.
2,389,444
0
.1
360,041
Cisco
Systems,
Inc.
19,355,804
0
.6
44,622
Cognizant
Technology
Solutions
Corp.
—
Class
A
3,022,694
0
.1
67,789
Corning,
Inc.
2,065,531
0
.1
18,128
(1)
DXC
Technology
Co.
377,606
0.0
12,047
(1)
Enphase
Energy,
Inc.
1,447,447
0
.1
5,130
(1)
EPAM
Systems,
Inc.
1,311,690
0.0
5,240
(1)
F5,
Inc.
844,374
0.0
2,196
(1)
Fair
Isaac
Corp.
1,907,292
0
.1
9,439
(1)
First
Solar,
Inc.
1,525,248
0
.1
6,542
(1)
FleetCor
Technologies,
Inc.
1,670,434
0
.1
57,591
(1)
Fortinet,
Inc.
3,379,440
0
.1
6,964
(1)
Gartner,
Inc.
2,392,900
0
.1
49,716
Gen
Digital,
Inc.
878,979
0.0
114,109
Hewlett
Packard
Enterprise
Co.
1,982,073
0
.1
76,807
HP,
Inc.
1,973,940
0
.1
369,549
Intel
Corp.
13,137,467
0
.4
80,453
International
Business
Machines
Corp.
11,287,556
0
.4
24,744
Intuit,
Inc.
12,642,699
0
.4
6,457
Jack
Henry
&
Associates,
Inc.
975,911
0.0
28,493
Juniper
Networks,
Inc.
791,820
0.0
15,783
(1)
Keysight
Technologies,
Inc.
2,088,249
0
.1
12,080
KLA
Corp.
5,540,613
0
.2
11,777
Lam
Research
Corp.
7,381,470
0
.2
73,510
Mastercard,
Inc.
—
Class
A
29,103,344
0
.9
48,093
Microchip
Technology,
Inc.
3,753,659
0
.1
96,772
Micron
Technology,
Inc.
6,583,399
0
.2
656,437
Microsoft
Corp.
207,269,983
6
.4
4,221
Monolithic
Power
Systems,
Inc.
1,950,102
0
.1
14,757
Motorola
Solutions,
Inc.
4,017,446
0
.1
18,626
NetApp,
Inc.
1,413,341
0.0
218,230
NVIDIA
Corp.
94,927,868
2
.9
22,777
NXP
Semiconductors
NV
4,553,578
0
.1
38,127
(1)
ON
Semiconductor
Corp.
3,543,905
0
.1
139,090
Oracle
Corp.
14,732,413
0
.5
27,023
(1)
Palo
Alto
Networks,
Inc.
6,335,272
0
.2
28,351
Paychex,
Inc.
3,269,721
0
.1
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Information
Technology:
(continued)
4,307
Paycom
Software,
Inc.
$
1,116,676
0.0
97,014
(1)
PayPal
Holdings,
Inc.
5,671,438
0
.2
10,499
(1)
PTC,
Inc.
1,487,498
0
.1
8,651
(1)
Qorvo,
Inc.
825,911
0.0
98,601
Qualcomm,
Inc.
10,950,627
0
.3
9,428
Roper
Technologies,
Inc.
4,565,792
0
.1
86,055
(1)
Salesforce,
Inc.
17,450,233
0
.5
17,063
Seagate
Technology
Holdings
PLC
1,125,305
0.0
18,024
(1)
ServiceNow,
Inc.
10,074,695
0
.3
14,101
Skyworks
Solutions,
Inc.
1,390,217
0.0
4,992
(1)
SolarEdge
Technologies,
Inc.
646,514
0.0
13,444
(1)
Synopsys,
Inc.
6,170,393
0
.2
27,737
TE
Connectivity
Ltd.
3,426,352
0
.1
4,168
(1)
Teledyne
Technologies,
Inc.
1,702,961
0
.1
13,607
Teradyne,
Inc.
1,366,959
0.0
80,221
Texas
Instruments,
Inc.
12,755,941
0
.4
21,950
(1)
Trimble,
Inc.
1,182,227
0.0
3,715
(1)
Tyler
Technologies,
Inc.
1,434,510
0
.1
7,928
(1)
VeriSign,
Inc.
1,605,658
0
.1
141,963
Visa,
Inc.
—
Class
A
32,652,910
1
.0
28,346
(1)
Western
Digital
Corp.
1,293,428
0.0
4,536
(1)
Zebra
Technologies
Corp.
—
Class
A
1,072,900
0.0
948,353,236
29
.3
Materials
:
2
.4
%
19,627
Air
Products
and
Chemicals,
Inc.
5,562,292
0
.2
10,368
Albemarle
Corp.
1,762,975
0
.1
130,369
Amcor
PLC
1,194,180
0.0
7,120
Avery
Dennison
Corp.
1,300,610
0.0
27,869
Ball
Corp.
1,387,319
0.0
8,867
Celanese
Corp.
1,112,986
0.0
17,047
CF
Industries
Holdings,
Inc.
1,461,610
0.0
62,709
Corteva,
Inc.
3,208,193
0
.1
62,118
Dow,
Inc.
3,202,804
0
.1
40,559
DuPont
de
Nemours,
Inc.
3,025,296
0
.1
10,475
Eastman
Chemical
Co.
803,642
0.0
22,413
Ecolab,
Inc.
3,796,762
0
.1
11,078
FMC
Corp.
741,894
0.0
126,665
Freeport-McMoRan,
Inc.
4,723,338
0
.2
22,601
International
Flavors
&
Fragrances,
Inc.
1,540,710
0
.1
30,570
International
Paper
Co.
1,084,318
0.0
43,111
Linde
PLC
16,052,381
0
.5
22,479
LyondellBasell
Industries
NV
—
Class
A
2,128,761
0
.1
5,461
Martin
Marietta
Materials,
Inc.
2,241,631
0
.1
29,425
Mosaic
Co.
1,047,530
0.0
70,216
Newmont
Corp.
2,594,481
0
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
6
Voya
VACS
Index
Series
S
Portfolio
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Materials:
(continued)
21,975
Nucor
Corp.
$
3,435,791
0
.1
7,968
Packaging
Corp.
of
America
1,223,486
0.0
20,808
PPG
Industries,
Inc.
2,700,878
0
.1
12,793
Sealed
Air
Corp.
420,378
0.0
20,793
Sherwin-Williams
Co.
5,303,255
0
.2
13,757
Steel
Dynamics,
Inc.
1,475,026
0
.1
11,739
Vulcan
Materials
Co.
2,371,513
0
.1
22,693
Westrock
Co.
812,409
0.0
77,716,449
2
.4
Real
Estate
:
2
.3
%
13,759
Alexandria
Real
Estate
Equities,
Inc.
1,377,276
0.0
41,186
American
Tower
Corp.
6,773,038
0
.2
12,547
AvalonBay
Communities,
Inc.
2,154,822
0
.1
12,645
Boston
Properties,
Inc.
752,125
0.0
9,459
Camden
Property
Trust
894,632
0.0
27,375
(1)
CBRE
Group,
Inc.
—
Class
A
2,021,917
0
.1
38,317
Crown
Castle,
Inc.
3,526,313
0
.1
26,745
Digital
Realty
Trust,
Inc.
3,236,680
0
.1
8,267
Equinix,
Inc.
6,003,991
0
.2
30,214
Equity
Residential
1,773,864
0
.1
5,687
Essex
Property
Trust,
Inc.
1,206,156
0.0
18,667
Extra
Space
Storage,
Inc.
2,269,534
0
.1
6,500
Federal
Realty
Investment
Trust
589,095
0.0
48,464
Healthpeak
Properties,
Inc.
889,799
0.0
63,016
Host
Hotels
&
Resorts,
Inc.
1,012,667
0.0
50,824
Invitation
Homes,
Inc.
1,610,613
0
.1
25,838
Iron
Mountain,
Inc.
1,536,069
0
.1
54,922
Kimco
Realty
Corp.
966,078
0.0
10,336
Mid-America
Apartment
Communities,
Inc.
1,329,726
0.0
81,625
Prologis,
Inc.
9,159,141
0
.3
13,981
Public
Storage
3,684,273
0
.1
62,623
Realty
Income
Corp.
3,127,393
0
.1
14,558
Regency
Centers
Corp.
865,328
0.0
9,576
SBA
Communications
Corp.
1,916,828
0
.1
28,908
Simon
Property
Group,
Inc.
3,122,931
0
.1
26,781
UDR,
Inc.
955,278
0.0
35,444
Ventas,
Inc.
1,493,256
0
.1
88,975
VICI
Properties,
Inc.
2,589,172
0
.1
45,831
Welltower,
Inc.
3,754,476
0
.1
64,563
Weyerhaeuser
Co.
1,979,502
0
.1
72,571,973
2
.3
Utilities
:
2
.4
%
59,303
AES
Corp.
901,406
0.0
22,273
Alliant
Energy
Corp.
1,079,127
0.0
23,267
Ameren
Corp.
1,741,070
0
.1
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Utilities:
(continued)
45,517
American
Electric
Power
Co.,
Inc.
$
3,423,789
0
.1
17,199
American
Water
Works
Co.,
Inc.
2,129,752
0
.1
13,117
Atmos
Energy
Corp.
1,389,484
0.0
55,909
CenterPoint
Energy,
Inc.
1,501,157
0.0
25,841
CMS
Energy
Corp.
1,372,416
0.0
30,475
Consolidated
Edison,
Inc.
2,606,527
0
.1
28,413
Constellation
Energy
Corp.
3,099,290
0
.1
73,931
Dominion
Energy,
Inc.
3,302,498
0
.1
18,261
DTE
Energy
Co.
1,812,952
0
.1
68,094
Duke
Energy
Corp.
6,009,976
0
.2
33,932
Edison
International
2,147,556
0
.1
18,683
Entergy
Corp.
1,728,177
0
.1
20,350
Evergy,
Inc.
1,031,745
0.0
30,907
Eversource
Energy
1,797,242
0
.1
87,930
Exelon
Corp.
3,322,875
0
.1
45,592
FirstEnergy
Corp.
1,558,335
0
.1
178,800
NextEra
Energy,
Inc.
10,243,452
0
.3
36,597
NiSource,
Inc.
903,214
0.0
20,243
NRG
Energy,
Inc.
779,760
0.0
184,766
(1)
PG&E
Corp.
2,980,276
0
.1
10,034
Pinnacle
West
Capital
Corp.
739,305
0.0
65,304
PPL
Corp.
1,538,562
0.0
44,098
Public
Service
Enterprise
Group,
Inc.
2,509,617
0
.1
55,601
Sempra
Energy
3,782,536
0
.1
96,352
Southern
Co.
6,235,901
0
.2
27,869
WEC
Energy
Group,
Inc.
2,244,848
0
.1
48,761
Xcel
Energy,
Inc.
2,790,104
0
.1
76,702,949
2
.4
Total
Common
Stock
(Cost
$3,008,690,548)
3,175,189,259
98
.1
Total
Long-Term
Investments
(Cost
$3,008,690,548)
3,175,189,259
98
.1
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
7
Voya
VACS
Index
Series
S
Portfolio
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
1
.6
%
Repurchase
Agreements
:
0.0
%
19,149
(3)
HSBC
Securities
USA
Inc.,
Repurchase
Agreement
dated
09/29/2023,
5.280%,
due
10/02/2023
(Repurchase
Amount
$19,157,
collateralized
by
various
U.S.
Government
Securities,
0.000%-4.375%,
Market
Value
plus
accrued
interest
$19,532,
due
02/29/24-02/15/53)
$
19,149
0.0
Shares
RA
Value
Percentage
of
Net
Assets
Mutual
Funds
:
1
.6
%
51,339,000
(4)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
5.270%
(Cost
$51,339,000)
$
51,339,000
1
.6
Total
Short-Term
Investments
(Cost
$51,358,149)
51,358,149
1
.6
Total
Investments
in
Securities
(Cost
$3,060,048,697)
$
3,226,547,408
99
.7
Assets
in
Excess
of
Other
Liabilities
9,068,338
0
.3
Net
Assets
$
3,235,615,746
100
.0
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(1)
Non-income
producing
security.
(2)
Security,
or
a
portion
of
the
security,
is
on
loan.
(3)
All
or
a
portion
of
the
security
represents
securities
purchased
with
cash
collateral
received
for
securities
on
loan.
(4)
Rate
shown
is
the
7-day
yield
as
of
September
30,
2023.
PORTFOLIO
OF
INVESTMENTS
as
ofSeptember
30,
2023
(Unaudited)
(continued)
8
Voya
VACS
Index
Series
S
Portfolio
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
September
30,
2023
in
valuing
the
assets
and
liabilities:
Quoted
Prices
in
Active
Markets
for
Identical
Investments
(Level
1)
Significant
Other
Observable
Inputs
(Level
2)
Significant
Unobservable
Inputs
(Level
3)
Fair
Value
at
September
30,
2023
Asset
Table
Investments,
at
fair
value
Common
Stock
$
3,175,189,259
$
—
$
—
$
3,175,189,259
Short-Term
Investments
51,339,000
19,149
—
51,358,149
Total
Investments,
at
fair
value
$
3,226,528,259
$
19,149
$
—
$
3,226,547,408
Liabilities
Table
Other
Financial
Instruments+
Futures
$
(
2,017,942
)
$
—
$
—
$
(
2,017,942
)
Total
Liabilities
$
(
2,017,942
)
$
—
$
—
$
(
2,017,942
)
+
Other
Financial
Instruments
may
include
open
forward
foreign
currency
contracts,
futures,
centrally
cleared
swaps,
OTC
swaps
and
written
options.
Forward
foreign
currency
contracts,
futures
and
centrally
cleared
swaps
are
fair
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
OTC
swaps
and
written
options
are
valued
at
the
fair
value
of
the
instrument.
At
September
30,
2023,
the
following
futures
contracts
were
outstanding
for
Voya
VACS
Index
Series
S Portfolio:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Depreciation
Long
Contracts:
S&P
500
E-Mini
265
12/15/23
$
57,312,875
$
(
2,017,942
)
$
57,312,875
$
(
2,017,942
)
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
353,468,573
Gross
Unrealized
Depreciation
(
186,969,862
)
Net
Unrealized
Appreciation
$
166,498,711