PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(Unaudited)
1
Voya
Retirement
Moderate
Growth
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
MUTUAL
FUNDS
:
100.1%
Affiliated
Investment
Companies
:
100.1%
2,585,722
(1)
Voya
Emerging
Markets
Index
Portfolio
- Class
I
$
23,581,782
1.9
3,786,407
(1)
Voya
High
Yield
Bond
Fund
- Class
R6
25,028,151
2.1
8,245,010
(1)
Voya
International
Index
Portfolio
- Class
I
82,532,552
6.8
6,133,167
(1)
Voya
Russell™
Mid
Cap
Index
Portfolio
- Class
I
60,534,355
5.0
10,904,223
(1)
Voya
Short
Term
Bond
Fund
- Class
R6
100,100,763
8.3
41,123,838
(1)
Voya
U.S.
Bond
Index
Portfolio
- Class
I
359,833,580
29.7
34,650,819
(1)
Voya
U.S.
Stock
Index
Portfolio
- Class
I
560,303,747
46.3
1,211,914,930
100.1
Total
Mutual
Funds
(Cost
$1,332,192,573)
1,211,914,930
100.1
Total
Investments
in
Securities
(Cost
$1,332,192,573)
$
1,211,914,930
100.1
Liabilities
in
Excess
of
Other
Assets
(759,214)
(0.1)
Net
Assets
$
1,211,155,716
100.0
(1)
Investment
in
affiliate.
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(Unaudited)
(continued)
2
Voya
Retirement
Moderate
Growth
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
Mutual
Funds
$
1,211,914,930
$
—
$
—
$
1,211,914,930
Total
Investments,
at
fair
value
$
1,211,914,930
$
—
$
—
$
1,211,914,930
Transactions
with
Affiliates
An
investment
of
at
least
5%
of
the
voting
securities
of
an
issuer,
or
a
company
which
is
under
common
control
with
the
issuer,
results
in
that
issuer
becoming
an
affiliated
person
as
defined
by
the
1940
Act.
The
following
table
provides
transactions
during
the
period
ended
September
30,
2023,
where
the
following
issuers
were
considered
an
affiliate:
Issuer
Beginning
Fair
Value
at
12/31/2022
Purchases
at
Cost
Sales
at
Cost
Change
In
Unrealized
Appreciation/
(Depreciation)
Ending
Fair
Value
at
9/30/2023
Investment
Income
Realized
Gains/
(Losses)
Net
Capital
Gain
Distributions
Voya
Emerging
Markets
Index
Portfolio
-
Class
I
$
26,438,054
$
3,336,848
$
(4,636,295)
$
(1,556,825)
$
23,581,782
$
1,973,409
$
(8,343)
$
—
Voya
High
Yield
Bond
Fund
-
Class
R6
—
26,257,733
(925,768)
(303,814)
25,028,151
464,293
1,102
—
Voya
International
Index
Portfolio
-
Class
I
90,626,214
5,797,184
(14,335,798)
444,952
82,532,552
4,365,642
958,833
—
Voya
Russell™
Mid
Cap
Index
Portfolio
-
Class
I
62,632,856
13,474,478
(9,319,396)
(6,253,583)
60,534,355
1,163,199
1,414,934
6,228,723
Voya
Short
Term
Bond
Fund
-
Class
R6
64,742,094
46,535,403
(11,633,582)
456,848
100,100,763
2,204,136
(859,049)
—
Voya
U.S.
Bond
Index
Portfolio
-
Class
I
410,843,031
34,255,489
(78,272,702)
(6,992,238)
359,833,580
10,777,640
(8,528,749)
—
Voya
U.S.
Stock
Index
Portfolio
-
Class
I
585,842,818
70,907,102
(110,313,837)
13,867,664
560,303,747
446,251
4,622,306
54,989,105
$
1,241,125,067
$
200,564,237
$
(229,437,378)
$
(336,996)
$
1,211,914,930
$
21,394,570
$
(2,398,966)
$
61,217,828
The
financial
statements
for
the
above
mutual
fund[s]
can
be
found
at
www.sec.gov.
Net
unrealized
depreciation
consisted
of:
Gross
Unrealized
Appreciation
$
2,890,872
Gross
Unrealized
Depreciation
(123,168,514)
Net
Unrealized
Depreciation
$
(120,277,642)