Voya MUTUAL FUNDS NPORTP Voya Multi-manager International Small Cap Fund (Jan 2021 report)

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited)

Shares			Value		Percentage of Net Assets
COMMON STOCK: 97.4%
		Australia: 7.8%
25,490		Adairs Ltd.	$	70,364		0.0
14,350		Adelaide Brighton Ltd.		31,280		0.0
12,165		Ansell Ltd.		340,053		0.2
221,876		Aurelia Metals Ltd.		68,983		0.0
31,681		Austal Ltd.		61,828		0.0
30,775		Ava Risk Group Ltd.		13,031		0.0
47,049		Bapcor Ltd.		268,711		0.2
5,273		Base Resources Ltd.		1,088		0.0
427,872		Beach Energy Ltd.		532,201		0.4
25,848		Beacon Lighting Group Ltd.		33,543		0.0
89,246		BlueScope Steel Ltd.		1,120,481		0.8
111,807		Boral Ltd.		410,981		0.3
51,413		Charter Hall Group		531,230		0.4
28,339		Codan Ltd./Australia		258,233		0.2
2,790		Collins Foods Ltd.		20,452		0.0
97,651		CSR Ltd.		391,806		0.3
81,945		Data#3 Ltd.		353,126		0.2
30,244		Elders Ltd.		245,221		0.2
267,221		Estia Health Ltd.		379,802		0.3
156,949	⁽¹⁾	Horizon Oil Ltd.		8,341		0.0
59,860		Iluka Resources Ltd.		293,232		0.2
122,226	⁽¹⁾	Image Resources NL		15,311		0.0
17,379		JB Hi-Fi Ltd.		683,035		0.5
128,714		Jupiter Mines Ltd.		28,933		0.0
37,232		MACA Ltd.		35,869		0.0
115,297		Macmahon Holdings Ltd.		23,302		0.0
8,116		McMillan Shakespeare Ltd.		78,072		0.1
28,388	^(1),(2)	Midway Ltd.		18,008		0.0
80,485		Mineral Resources Ltd.		2,096,296		1.4
11,042	⁽¹⁾	Nufarm Ltd.		40,798		0.0
57,402		OM Holdings Ltd.		37,626		0.0
56,622		OZ Minerals Ltd.		800,902		0.5
48,397		Pendal Group Ltd.		226,957		0.2
15,354		People Infrastructure Ltd.		40,066		0.0
323,419		Perenti Global Ltd.		318,982		0.2
260,606	⁽¹⁾	Perseus Mining Ltd.		231,350		0.2
23,902		Regis Resources Ltd.		65,700		0.0
81,037		Reliance Worldwide Corp. Ltd.		262,401		0.2
19,326	⁽¹⁾	RPMGlobal Holdings Ltd.		18,857		0.0
14,631		Sandfire Resources Ltd.		53,004		0.0
19,340		Seven Group Holdings Ltd.		328,881		0.2
25,018		Shaver Shop Group Ltd.		21,620		0.0
111,586		Shopping Centres Australasia Property Group		197,318		0.1
91,195	⁽¹⁾	Sigma Healthcare Ltd.		45,820		0.0
256,237	⁽¹⁾	Silver Lake Resources Ltd.		310,305		0.2
9,920		Sims Metal Management Ltd.		92,094		0.1
116,245		Vita Group Ltd.		93,471		0.1
40,535		Western Areas Ltd.		72,173		0.1
				11,671,138		7.8

		Austria: 0.4%
10,642		Andritz AG		505,551		0.3
1,877		Palfinger AG		66,833		0.1
600		UBM Development AG		25,484		0.0
2,867		Zumtobel AG		23,624		0.0
				621,492		0.4

		Azerbaijan: 0.0%
14,821		Anglo Asian Mining PLC		31,882		0.0

		Belgium: 0.3%
13,019	⁽¹⁾	AGFA-Gevaert NV		60,296		0.1
2,788	⁽¹⁾	bpost SA		32,984		0.0
11,083	⁽¹⁾	Deceuninck NV		31,871		0.0
2,052		Ion Beam Applications		35,709		0.0
375		Melexis NV		41,920		0.0
6,308		Warehouses De Pauw CVA		226,491		0.2
				429,271		0.3

		Canada: 7.6%
1,300		Acadian Timber Corp.		16,683		0.0
2,917		AGF Management Ltd.		14,736		0.0
6,908		AirBoss of America Corp.		90,054		0.1
4,200		Andrew Peller Ltd.		33,666		0.0
14,255	⁽¹⁾	ATS Automation Tooling Systems, Inc.		244,578		0.2
869		Bird Construction, Inc.		5,572		0.0
6,300	⁽¹⁾	Black Diamond Group Ltd.		13,105		0.0
200		Bridgemarq Real Estate Services		2,304		0.0
15,783		BRP, Inc.		1,038,870		0.7
6,505		Canadian Apartment Properties REIT		260,454		0.2
13,867		Canadian Western Bank		308,517		0.2
39,843	⁽¹⁾	Canfor Corp.		735,635		0.5
5,900		Canfor Pulp Products, Inc.		39,172		0.0
18,700		CanWel Building Materials Group Ltd.		106,606		0.1
232,852	⁽¹⁾	Capstone Mining Corp.		482,548		0.3
10,800	⁽¹⁾	China Gold International Resources Corp. Ltd.		21,706		0.0
2,369	⁽¹⁾	Cipher Pharmaceuticals, Inc.		1,667		0.0
2,230		Cogeco, Inc.		160,386		0.1
3,864	⁽¹⁾	Descartes Systems Group, Inc./The		235,632		0.2
7,050		DREAM Unlimited Corp.		113,792		0.1
10,000		Enghouse Systems Ltd.		459,198		0.3
2,608		Exco Technologies Ltd.		19,783		0.0
3,600	⁽¹⁾	EXFO, Inc.		13,091		0.0
14,880		Finning International, Inc.		310,691		0.2
35,073	⁽¹⁾	Fortuna Silver Mines, Inc.		271,259		0.2
3,800		H&R Real Estate Investment Trust		36,135		0.0
4,400		Hardwoods Distribution, Inc.		94,073		0.1
27,837		High Arctic Energy Services, Inc.		21,769		0.0
84,800		HudBay Minerals, Inc.		482,771		0.3
4,045		iA Financial Corp., Inc.		180,242		0.1
9,800	⁽¹⁾	IBI Group, Inc.		69,127		0.1
1,532		Information Services Corp.		25,339		0.0
25,000	⁽¹⁾	Interfor Corp.		465,885		0.3

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		Canada: (continued)
5,399		Intertape Polymer Group, Inc.	$	96,981		0.1
400		Lassonde Industries, Inc.		54,491		0.0
4,600		Leon's Furniture Ltd.		74,104		0.1
5,200		Linamar Corp.		265,459		0.2
52,000	⁽¹⁾	Lucara Diamond Corp.		30,905		0.0
13,056		Maple Leaf Foods, Inc.		255,147		0.2
800		Morguard Corp.		68,192		0.1
37,800		Mullen Group Ltd.		305,652		0.2
1,856		Neo Performance Materials, Inc.		22,062		0.0
32,200		Nexus Real Estate Investment Trust		52,628		0.0
14,386		Northland Power, Inc.		527,065		0.4
31,820	⁽¹⁾	Parex Resources, Inc.		481,499		0.3
6,300		Pizza Pizza Royalty Corp.		46,557		0.0
2,692		Polaris Infrastructure, Inc.		44,082		0.0
1,278	⁽¹⁾	Precision Drilling Corp.		24,895		0.0
18,914	⁽¹⁾	Pretium Resources, Inc.		204,116		0.1
17,417	⁽¹⁾	Real Matters, Inc.		228,141		0.2
7,900		Richelieu Hardware Ltd.		231,486		0.2
272	⁽¹⁾	Roxgold, Inc.		296		0.0
1,118		Russel Metals, Inc.		20,074		0.0
7,708		Stella-Jones, Inc.		277,036		0.2
137,466	⁽¹⁾	Taseko Mines Ltd.		163,585		0.1
9,696		TFI International, Inc.		644,049		0.4
49,076	⁽¹⁾	TransGlobe Energy Corp.		51,039		0.0
39,212		Tricon Residential, Inc.		374,105		0.3
5,400		VersaBank		46,409		0.0
1,100		Wajax Corp.		16,344		0.0
7,270	⁽¹⁾	Xenon Pharmaceuticals, Inc.		104,324		0.1
32,364		Yamana Gold, Inc. (CAD)		151,095		0.1
				11,236,864		7.6

		China: 1.2%
185,000		361 Degrees International Ltd.		30,531		0.0
125,200		Changchun Faway Automobile Components Co. Ltd. - A Shares		167,864		0.1
100,000		Chaowei Power Holdings Ltd.		42,410		0.1
10,276		China Yuchai International Ltd.		164,108		0.1
34,200		Dutech Holdings Ltd.		6,308		0.0
384,000	⁽¹⁾	E-Commodities Holdings Ltd.		18,276		0.0
111,072	⁽¹⁾	Ever Reach Group Holdings Co. Ltd.		19,483		0.0
114,000		FriendTimes, Inc.		34,282		0.0
301,000	⁽¹⁾	Goodbaby International Holdings Ltd.		37,895		0.0
1,087,897		Greenland Hong Kong Holdings Ltd.		320,045		0.2
132,956		Henan Jinma Energy Co. Ltd. - H Shares		60,534		0.1
160,000	⁽¹⁾	Hilong Holding Ltd.		6,177		0.0
618,000		Huazhong In-Vehicle Holdings Co. Ltd.		70,940		0.1
144,900		Liuzhou Iron & Steel Co. Ltd. - A Shares		124,457		0.1
249,000		Nexteer Automotive Group Ltd.		399,267		0.3
89,000		Pacific Online Ltd.		14,693		0.0
116,000		Ten Pao Group Holdings Ltd.		34,126		0.0
354,000		Towngas China Co. Ltd.		151,189		0.1
38,932		Xingfa Aluminium Holdings Ltd.		41,175		0.0
319,000	⁽¹⁾	Xiwang Special Steel Co. Ltd. - H Shares		14,923		0.0
138,000		Zengame Technology Holding Ltd.		19,866		0.0
				1,778,549		1.2

		Czech Republic: 0.2%
36,993	⁽³⁾	Avast PLC		238,520		0.2

		Denmark: 1.8%
1,450	⁽¹⁾	ALK-Abello A/S		566,956		0.4
49,826	^(1),(2)	Columbus A/S		99,562		0.1
2,323		D/S Norden		41,475		0.0
3,084	⁽¹⁾	H+H International A/S		73,536		0.0
4,469	⁽¹⁾	Matas A/S		55,565		0.0
3,067	^(1),(3)	Netcompany Group A/S		286,118		0.2
238		North Media A/S		3,107		0.0
12,629		Pandora A/S		1,215,243		0.8
341		Per Aarsleff Holding A/S		15,761		0.0
3,081		Royal Unibrew A/S		304,142		0.2
1,038		Solar A/S		68,002		0.1
26		Sparekassen Sjaelland-Fyn AS		400		0.0
				2,729,867		1.8

		Finland: 1.5%
1,202		Alma Media Oyj		13,176		0.0
1,699		Aspo Oyj		17,608		0.0
1,999		Atria PLC		24,996		0.0
284	⁽¹⁾	BasWare Oyj		13,507		0.0
3,554		Digia Oyj		32,364		0.0
1,730	⁽²⁾	eQ Oyj		34,602		0.0
1,668		Fiskars OYJ Abp		31,331		0.0
11,042	⁽¹⁾	F-Secure Oyj		51,832		0.0
775		Gofore Oyj		16,035		0.0
3,185		Harvia Oyj		90,712		0.1
6,929		Kamux Corp.		114,809		0.1
15,093		Kemira OYJ		255,479		0.2
707	^(1),(2)	Marimekko Oyj		40,025		0.0
7,957		Metsa Board OYJ		85,523		0.1
40,576		Oriola Oyj		99,713		0.1
40,847		Metso Outotec Oyj		407,573		0.3
442		Ponsse Oyj		17,085		0.0
3,035	⁽¹⁾	Rapala VMC Oyj		18,636		0.0
2,108		Scanfil Oyj		16,191		0.0
8,317		TietoEVRY Oyj		273,281		0.2
15,582		Valmet OYJ		498,823		0.3
9,115		Verkkokauppa.com Oyj		79,159		0.1
				2,232,460		1.5

		France: 5.3%
4,493		AKWEL		115,047		0.1
4,788	⁽¹⁾	Alstom SA		259,603		0.2
307		Altarea SCA		51,190		0.1
1,976		Arkema SA		218,663		0.1
3,528	⁽¹⁾	Atos SE		270,737		0.2
1,451		Boiron SA		60,221		0.1
5,282		CBO Territoria		23,058		0.0
678	⁽¹⁾	Cegedim SA		19,335		0.0

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		France: (continued)
630		Cie des Alpes	$	13,291		0.0
12,062	⁽¹⁾	Criteo SA ADR		224,353		0.2
5,942	⁽¹⁾	Eiffage SA		539,341		0.4
17,232	⁽¹⁾	Elis SA		259,536		0.2
699	⁽¹⁾	Eurobio Scientific SA		17,077		0.0
10,979	⁽¹⁾	Faurecia SE		574,544		0.4
170		Fountaine Pajot SA		19,059		0.0
1,591		Gecina S.A.		226,040		0.2
121	⁽¹⁾	Groupe Crit		9,354		0.0
7,031	⁽¹⁾	Groupe Fnac		395,235		0.3
1,265	⁽¹⁾	Groupe LDLC		84,375		0.1
941		Guerbet		38,084		0.0
2,524		Haulotte Group		18,447		0.0
996	⁽¹⁾	HEXAOM		42,991		0.0
1,118		Infotel SA		56,256		0.0
6,826		Ipsen SA		595,512		0.4
2,895		Jacquet Metal Service		50,380		0.0
12,548		Klepierre SA		300,740		0.2
7,564	⁽¹⁾	Korian SA		279,479		0.2
5,143	⁽³⁾	La Francaise des Jeux SAEM		220,900		0.1
719		Le Noble Age		42,994		0.0
183	⁽¹⁾	Manutan International		17,230		0.0
698		Neurones		19,906		0.0
6,169	⁽¹⁾	Nexans SA		458,818		0.3
6,918	⁽¹⁾	Plastivaloire		58,810		0.0
731	⁽¹⁾	PSB Industries SA		15,835		0.0
9,070		Publicis Groupe		469,414		0.3
6,924		Rubis SCA		313,392		0.2
435	⁽¹⁾	Savencia SA		31,674		0.0
8,999	⁽¹⁾	SCOR SE		273,647		0.2
1,352		SEB SA		256,931		0.2
2,077	⁽¹⁾	SOITEC		417,554		0.3
1,848	⁽¹⁾	Sopra Group SA		306,571		0.2
1,286	⁽¹⁾	Synergie SE		49,003		0.0
655		Trigano SA		115,257		0.1
284		Vetoquinol SA		29,696		0.0
157	⁽¹⁾	Virbac SA		40,868		0.0
				7,900,448		5.3

		Germany: 7.0%
28,850	⁽¹⁾	Affimed NV		165,311		0.1
31,017		Alstria Office REIT-AG		534,497		0.4
454		Atoss Software AG		102,475		0.1
3,569		Aurubis AG		275,054		0.2
2,289		Bechtle AG		486,395		0.4
1,116		bet-at-home.com AG		51,490		0.0
4,765		Brenntag AG		373,256		0.3
2,112		Carl Zeiss Meditec AG		330,074		0.2
3,237		Cewe Stiftung & Co. KGAA		434,465		0.3
5,442	⁽³⁾	Covestro AG		369,685		0.2
1,556	⁽¹⁾	Deutsche Euroshop AG		33,289		0.0
22,336	^(1),(3)	Deutsche Pfandbriefbank AG		219,230		0.1
11,697	⁽¹⁾	Dialog Semiconductor PLC		736,303		0.5
7,521	⁽³⁾	DWS Group GmbH & Co. KGaA		294,896		0.2
1,937		Elmos Semiconductor SE		77,069		0.1
18,423		Encavis AG		501,459		0.3
15,420		Freenet AG		321,966		0.2
3,681		Gerresheimer AG		391,985		0.3
1,072		GFT Technologies AG		15,743		0.0
128	⁽¹⁾	GK Software SE		17,383		0.0
2,468	⁽¹⁾	H&R GmbH & Co. KGaA		17,970		0.0
1,140	⁽¹⁾	Hella GmbH & Co. KGaA		69,500		0.0
12,785	⁽¹⁾	HelloFresh SE		1,079,593		0.7
2,981	⁽¹⁾	Home24 SE		76,578		0.1
407		Hornbach Holding AG & Co. KGaA		38,525		0.0
7,832		IVU Traffic Technologies AG		168,993		0.1
5,842	⁽¹⁾	Kloeckner & Co. SE		53,438		0.0
1,156		Krones AG		95,686		0.1
574		MBB SE		95,404		0.1
39		Paul Hartmann AG		18,931		0.0
21,172	⁽¹⁾	ProSiebenSat.1 Media SE		382,590		0.3
6,932		Rheinmetall AG		731,958		0.5
2,750	⁽¹⁾	SAF-Holland SE		38,256		0.0
910	⁽¹⁾	Schaltbau Holding AG		34,186		0.0
148	⁽¹⁾	Surteco SE		4,347		0.0
17,901		TAG Immobilien AG		549,680		0.4
5,874		United Internet AG		254,905		0.2
620		VIB Vermoegen AG		22,002		0.0
5,249		Wacker Chemie AG		759,676		0.5
1,864	⁽¹⁾	Westwing Group AG		83,324		0.1
708		Wuestenrot & Wuerttembergische AG		14,503		0.0
87	⁽¹⁾	zooplus AG		20,166		0.0
				10,342,236		7.0

		Greece: 0.0%
3,486		European Reliance General Insurance Co. SA		20,964		0.0

		Hong Kong: 2.3%
275,524		Build King Holdings Ltd.		32,648		0.0
20,146	⁽¹⁾	China Billion Resources Ltd.		156		0.0
1,354,000		China Merchants Land Ltd.		194,745		0.1
80,000		Computer & Technologies Holdings Ltd.		23,452		0.0
1,703		Computime Group Ltd.		118		0.0
771,406		Fountain SET Hldgs		93,525		0.1
66,000		FSE Services Group Ltd.		29,329		0.0
2,348,000		Gemdale Properties & Investment Corp. Ltd.		331,870		0.2
34,303		GDH Guangnan Holdings Ltd.		2,996		0.0
83,321		Hanison Construction Holdings Ltd.		10,962		0.0
103,200		HKR International Ltd.		41,928		0.0
232,000	⁽¹⁾	Hop Fung Group Holdings Ltd.		9,126		0.0
90,000		Hung Hing Printing Group Ltd.		12,052		0.0
62,000		Hysan Development Co., Ltd.		224,842		0.2
14,500		Johnson Electric Holdings Ltd.		42,826		0.0
436,726		K Wah International Holdings Ltd.		205,784		0.1
100,000		Kerry Logistics Network Ltd.		213,266		0.2

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		Hong Kong: (continued)
35,701		Lung Kee Bermuda Holdings	$	12,258		0.0
48,377		Million Hope Industries Holdings Ltd.		3,681		0.0
83,000		Modern Dental Group Ltd.		14,002		0.0
278,000	^(1),(4)	Pacific Andes International Holdings Ltd.		–		–
415,000		PAX Global Technology Ltd.		407,617		0.3
118,000		Pico Far East Holdings Ltd.		19,137		0.0
23,500		Prinx Chengshan Cayman Holding Ltd.		24,733		0.0
23,000	⁽¹⁾	Rich Goldman Holdings Ltd.		152		0.0
361,851		Road King Infrastructure		448,840		0.3
87,913	^(1),(4)	S&C Engine Group Ltd.		–		–
24,490	⁽¹⁾	SHK Hong Kong Industries Ltd.		638		0.0
8,613		Soundwill Holdings Ltd.		8,668		0.0
294,476		Sun Hung Kai & Co. Ltd.		120,518		0.1
21,056		Sunlight Real Estate Investment Trust		10,213		0.0
321,180		Tang Palace China Holdings Ltd.		34,815		0.0
131,511		Tao Heung Holdings Ltd.		13,400		0.0
71,500		Texhong Textile Group Ltd.		75,748		0.1
320,000		Texwinca Holdings Ltd.		63,012		0.1
5,680,000		Tongda Group Holdings Ltd.		386,696		0.3
542,000	⁽¹⁾	Truly International Holdings Ltd.		95,352		0.1
290,000		United Laboratories International Holdings Ltd.		201,067		0.1
212,000		Vedan International Holdings Ltd.		19,961		0.0
30,144		Wai Kee Holdings Ltd.		14,731		0.0
				3,444,864		2.3

		India: 0.3%
349,527	⁽¹⁾	Dish TV India Ltd.		58,596		0.1
3,651		eClerx Services Ltd.		49,289		0.0
25,620	^(1),(4)	Geodesic Ltd.		–		–
20,672		GHCL Ltd.		57,693		0.1
14,554	⁽¹⁾	Intellect Design Arena Ltd.		65,251		0.1
14,046		J Kumar Infraprojects Ltd.		28,145		0.0
7,335		Majesco Ltd.		4,026		0.0
2,091		MindTree Ltd.		47,030		0.0
7,048		Newgen Software Technologies Ltd.		28,083		0.0
1,199		Oracle Financial Services Software Ltd.		52,787		0.0
9,321		Redington India Ltd.		17,197		0.0
1,633		Savita Oil Technologies Ltd.		15,313		0.0
2,092		TVS Srichakra Ltd.		54,660		0.0
21,379	^(1),(4)	Varun Industries Ltd.		–		–
				478,070		0.3

		Ireland: 0.6%
68,226	⁽¹⁾	Bank of Ireland Group PLC		253,451		0.2
54,504	⁽¹⁾	Dalata Hotel Group PLC - DHGI		220,918		0.1
43,274		UDG Healthcare PLC		482,503		0.3
				956,872		0.6

		Israel: 1.3%
22,482	⁽¹⁾	Camtek Ltd./Israel		531,025		0.4
1,649		Delta Galil Industries Ltd.		38,603		0.0
177		Duniec Brothers Ltd.		5,642		0.0
10,595		Electra Consumer Products 1970 Ltd.		409,570		0.3
7,913	⁽¹⁾	Inmode Ltd.		465,759		0.3
343,326		Isramco Negev 2 L.P.		60,911		0.1
3,794	⁽¹⁾	Kamada Ltd.		24,975		0.0
2,202		Kerur Holdings Ltd.		56,887		0.0
2,883	⁽¹⁾	Naphtha Israel Petroleum Corp. Ltd.		12,931		0.0
367		Neto ME Holdings Ltd.		15,233		0.0
5,721	⁽¹⁾	Perion Network Ltd.		83,069		0.1
1,149	⁽¹⁾	Silicom Ltd.		50,763		0.0
1,757	⁽¹⁾	Taro Pharmaceuticals Industries, Ltd.		131,318		0.1
				1,886,686		1.3

		Italy: 2.6%
17,600		ACEA SpA		348,232		0.2
7,131	⁽¹⁾	Amplifon S.p.A.		282,662		0.2
18,469	⁽¹⁾	Arnoldo Mondadori Editore SpA		30,392		0.0
31,121		Azimut Holding S.p.A.		653,931		0.4
46,327	⁽¹⁾	Banca Mediolanum SpA		367,106		0.3
3,168		BasicNet SpA		15,154		0.0
27,046		Buzzi Unicem SpA		665,423		0.5
3,849		De'Longhi SpA		138,135		0.1
1,676	⁽¹⁾	El.En. SpA		54,974		0.0
26,705	⁽¹⁾	Elica SpA		93,782		0.1
17,529	⁽¹⁾	Emak SpA		25,347		0.0
12,867	⁽¹⁾	Esprinet S.p.A.		147,678		0.1
6,187		Interpump Group SpA		277,487		0.2
2,813	⁽¹⁾	Newlat Food SpA		18,571		0.0
400		Pharmanutra SpA		18,300		0.0
401	⁽¹⁾	Ratti SpA		1,869		0.0
2,487		Reno de Medici SpA		3,022		0.0
3,340		Reply SpA		408,569		0.3
7,403		Servizi Italia SpA		20,124		0.0
12,511	⁽¹⁾	Sogefi S.p.A.		17,250		0.0
75,529	⁽¹⁾	Unipol Gruppo Finanziario SpA		331,389		0.2
				3,919,397		2.6

		Japan: 17.9%
58,900		AEON Financial Service Co., Ltd.		707,343		0.5
381		Aichi Tokei Denki Co., Ltd.		15,871		0.0
1,000		Aiphone Co., Ltd.		16,197		0.0
1,100		Ajis Co. Ltd.		40,497		0.0
2,900		Akatsuki, Inc.		131,754		0.1
17,700		Anritsu Corp.		436,105		0.3
500		Arata Corp.		21,993		0.0
900		Asahi Co., Ltd.		13,927		0.0
7,400		Asahi Diamond Industrial Co., Ltd.		32,195		0.0

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		Japan: (continued)
3,700		Asia Pile Holdings Corp.	$	16,995		0.0
1,400		ASKA Pharmaceutical Co., Ltd.		20,201		0.0
8,400		ASKUL Corp.		296,643		0.2
6,000		Bando Chemical Industries Ltd.		37,542		0.0
2,500		BayCurrent Consulting, Inc.		376,927		0.3
12,000		Bell System24 Holdings, Inc.		214,341		0.2
2,200		Business Engineering Corp.		64,135		0.1
7,500		Capcom Co., Ltd.		470,545		0.3
1,100		Chino Corp.		14,619		0.0
7,000		Chubu Shiryo Co., Ltd.		93,921		0.1
1,700		CMC Corp.		40,494		0.0
1,400		Contec Co. Ltd.		23,426		0.0
2,500		Corona Corp.		22,122		0.0
2,700		Daihatsu Diesel Manufacturing Co., Ltd.		10,593		0.0
6,200		Daihen Corp.		293,330		0.2
6,100		Daikoku Denki Co., Ltd.		50,734		0.0
5,715		Daitron Co., Ltd.		86,841		0.1
10,500		Denka Co., Ltd.		399,887		0.3
5,700		Dip Corp.		156,431		0.1
1,900		DMS, Inc.		24,594		0.0
9,900		Doshisha Co., Ltd.		177,309		0.1
22,382		DTS Corp.		476,951		0.3
20,100		EDION Corp.		196,980		0.1
15,400		Eiken Chemical Co., Ltd.		338,743		0.2
1,500		Elematec Corp.		14,212		0.0
10,100		Exedy Corp.		151,211		0.1
1,200		Faith, Inc.		9,112		0.0
146,200		FIDEA Holdings Co., Ltd.		149,759		0.1
1,200		Foster Electric Co., Ltd.		17,805		0.0
2,100		Freund Corp.		15,755		0.0
17,400		Fuji Machine Manufacturing Co., Ltd.		454,790		0.3
1,400		Fuji Pharma Co. Ltd.		16,275		0.0
4,800		Fuji Soft, Inc.		247,966		0.2
7,900		Fujikura Kasei Co., Ltd.		37,236		0.0
55,000	⁽¹⁾	Fujikura Ltd.		257,765		0.2
19,400		Fullcast Co., Ltd.		310,283		0.2
7,600	⁽¹⁾	Funai Electric Co., Ltd.		31,171		0.0
4,400		Furusato Industries Ltd.		53,294		0.0
1,000		Fuso Pharmaceutical Industries Ltd.		25,150		0.0
1,300		Gakken Holdings Co., Ltd.		21,295		0.0
21,700	⁽¹⁾	GungHo Online Entertainment, Inc.		540,989		0.4
23,400		Gurunavi, Inc.		118,314		0.1
2,400		Honshu Chemical Industry Co. Ltd.		41,709		0.0
19,900		Hosiden Corp.		181,153		0.1
1,100		ID Holdings Corp.		12,959		0.0
23,600		Infocom Corp.		684,405		0.5
3,600		Intage Holdings, Inc.		40,326		0.0
18,400		Internet Initiative Japan, Inc.		377,120		0.3
530		Invincible Investment Corp.		176,693		0.1
14,800		Itoki Corp.		45,861		0.0
2,600		Iwaki & Co., Ltd.		15,993		0.0
4,200		Iwaki Co. Ltd.		32,177		0.0
11,600		Japan Lifeline Co. Ltd.		167,368		0.1
3,400		JBCC Holdings, Inc.		47,628		0.0
1,000		JFE Systems, Inc.		30,625		0.0
1,200		Joshin Denki Co., Ltd.		31,424		0.0
400		JUTEC Holdings Corp.		3,931		0.0
243		Kamei Corp.		2,770		0.0
9,100		Kanamoto Co., Ltd.		194,628		0.1
6,400		Kaneka Corp.		229,844		0.2
11,100		Keiyo Co., Ltd.		78,171		0.1
43		Kenedix Office Investment Corp.		276,764		0.2
1,130		Kimura Unity Co., Ltd.		11,848		0.0
2,400		King Jim Co., Ltd.		20,260		0.0
13,700		Kintetsu World Express, Inc.		335,861		0.2
1,300		Kita-Nippon Bank Ltd.		23,028		0.0
7,900		Kohnan Shoji Co., Ltd.		214,821		0.2
48,000		Kojima Co., Ltd.		284,448		0.2
12,600		Komeri Co., Ltd.		334,589		0.2
8,200		K's Holdings Corp.		110,879		0.1
1,800		KSK Co. Ltd./Inagi		38,263		0.0
9,700		Kumagai Gumi Co., Ltd.		239,989		0.2
3,100		Kuriyama Holdings Corp.		19,356		0.0
9,900		KYORIN Holdings, Inc.		185,805		0.1
2,200		Kyowa Electronics Instruments Co. Ltd.		8,053		0.0
1,595		Kyowa Leather Cloth Co., Ltd.		9,632		0.0
1,600		Marubun Corp.		8,236		0.0
6,900		Megachips Corp.		204,624		0.2
6,100		Meiwa Estate Co., Ltd.		35,194		0.0
4,500	⁽¹⁾	MIMAKI ENGINEERING CO Ltd.		20,474		0.0
10,600		Miraca Holdings, Inc.		315,181		0.2
6,500		Mito Securities Co., Ltd.		15,388		0.0
1,100		Mitsubishi Research Institute, Inc.		44,272		0.0
100		Mitsui Matsushima Holdings Co., Ltd.		734		0.0
3,800		Morinaga Milk Industry Co., Ltd.		189,073		0.1
800		Morishita Jintan Co. Ltd.		15,066		0.0
1,900		Mutoh Holdings Co., Ltd.		28,175		0.0
4,400	⁽¹⁾	Mynet, Inc.		37,639		0.0
1,300		Nadex Co., Ltd.		8,775		0.0
2,900		Nafco Co., Ltd.		54,557		0.1
3,300		Nakabayashi Co. Ltd.		19,431		0.0
10,287		Nakano Corp.		38,534		0.0
13,700		NEC Networks & System Integration Corp.		242,586		0.2
8,000		Net One systems Co., Ltd.		266,898		0.2
3,700		Nextage Co. Ltd.		52,179		0.0
1,200	⁽¹⁾	Nice Holdings, Inc.		17,007		0.0
3,700		Nichiha Corp.		110,870		0.1
8,300		Nichirei Corp.		240,493		0.2
1,600		Nihon Falcom Corp.		22,275		0.0
7,000		Nihon House Holdings Co., Ltd		20,748		0.0
19,900		Nikkiso Co., Ltd.		191,176		0.1
62		Nippon Accommodations Fund, Inc.		341,181		0.2
1,200		Nippon BS Broadcasting Corp.		13,704		0.0

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		Japan: (continued)
187		Nippon Chemiphar Co., Ltd.	$	3,985		0.0
2,100		Nippon Commercial Development Co. Ltd.		34,172		0.0
11,400		Nippon Electric Glass Co., Ltd.		250,455		0.2
2,100		Nippon Systemware Co., Ltd.		41,837		0.0
142,000	⁽¹⁾	Niraku GC Holdings, Inc.		3,737		0.0
7,100	⁽²⁾	Nishimatsuya Chain Co., Ltd.		95,524		0.1
54,818		Nissan Tokyo Sales Holdings Co., Ltd.		135,842		0.1
8,531		Nisshin Group Holdings Co. Ltd.		33,639		0.0
7,500		Nissin Electric Co., Ltd.		98,627		0.1
4,200		Nittetsu Mining Co., Ltd.		221,448		0.2
3,400		NJS Co. Ltd.		64,122		0.1
92,400		North Pacific Bank Ltd.		187,041		0.1
1,200		Ochi Holdings Co. Ltd.		15,294		0.0
1,800		Onoken Co., Ltd.		20,829		0.0
11,500		Open House Co. Ltd.		462,910		0.3
1,000		Origin Co. Ltd.		12,866		0.0
2,800		Oyo Corp.		33,871		0.0
4,300		Paltac Corp.		223,445		0.2
16,000		Parker Corp.		72,187		0.1
2,300		Pasona Group, Inc.		41,325		0.0
48,300		Penta-Ocean Construction Co., Ltd.		395,732		0.3
100		Pronexus, Inc.		1,009		0.0
4,900		Relia, Inc.		67,237		0.1
46,000		Rengo Co., Ltd.		382,592		0.3
15,000		Resorttrust, Inc.		212,359		0.2
900		Rhythm Co. Ltd.		6,096		0.0
9,700		Ride On Express Holdings Co. Ltd.		196,606		0.1
6,200		Riken Technos Corp.		26,886		0.0
1,000		Saison Information Systems Co. Ltd.		21,396		0.0
1,400		San Holdings, Inc.		15,552		0.0
1,519		Sankyo Frontier Co. Ltd.		56,621		0.1
5,400		Sankyu, Inc.		203,319		0.1
1,800		Sansha Electric Manufacturing Co. Ltd.		15,519		0.0
24,200		Sanwa Holdings Corp.		275,896		0.2
6,700		Sawai Pharmaceutical Co., Ltd.		306,278		0.2
3,300	⁽¹⁾	Saxa Holdings, Inc.		44,711		0.0
1,300		Seika Corp.		16,740		0.0
19,000		Septeni Holdings Co. Ltd.		84,694		0.1
900		Shibaura Electronics Co. Ltd.		26,272		0.0
1,800		Shibaura Mechatronics Corp.		91,573		0.1
10,500		Shiga Bank Ltd.		192,044		0.1
22,100		Shinko Electric Industries		555,544		0.4
6,500		Ship Healthcare Holdings, Inc.		373,987		0.3
2,500		Sinfonia Technology Co. Ltd.		34,270		0.0
1,700		SK-Electronics Co., Ltd.		20,641		0.0
8,100		Softcreate Holdings Corp.		202,795		0.1
5,769		Soken Chemical & Engineering Co. Ltd.		104,071		0.1
6,900		Soliton Systems KK		112,794		0.1
2,400		Space Co. Ltd.		17,725		0.0
4,400		SPK Corp.		52,455		0.0
8,200		Starts Corp., Inc.		211,056		0.2
3,900		St-Care Holding Corp.		35,064		0.0
14,900		Sumitomo Forestry Co., Ltd.		288,552		0.2
45,500		Suruga Bank Ltd.		133,800		0.1
9,200		Sushiro Global Holdings Ltd.		314,718		0.2
3,081		Tachikawa Corp.		37,336		0.0
5,900		Taiho Kogyo Co., Ltd.		40,055		0.0
8,600		Taiyo Yuden Co., Ltd.		504,483		0.4
1,500		Takasago International Corp.		37,070		0.0
10,200		Takeuchi Manufacturing Co. Ltd.		232,252		0.2
1,200		Tanabe Consulting Co. Ltd.		15,867		0.0
17,400		Tanseisha Co., Ltd.		121,612		0.1
800		Techno Medica Co. Ltd.		11,913		0.0
13,900		TOA Road Corp.		493,081		0.3
22,900		Tochigi Bank Ltd.		37,196		0.0
2,700		Togami Electric Manufacturing Co. Ltd.		43,072		0.0
1,100		Toho Holdings Co., Ltd.		20,715		0.0
2,100		Tokyo Keiki, Inc.		18,735		0.0
5,000		Tokyo Seimitsu Co., Ltd.		231,183		0.2
2,700		Tokyo Tekko Co., Ltd.		51,335		0.0
5,100		Tokyotokeiba Co., Ltd.		211,310		0.2
700		Tomen Devices Corp.		25,546		0.0
2,400		Tonami Holdings Co., Ltd.		124,148		0.1
5,100		Towa Pharmaceutical Co., Ltd.		102,088		0.1
3,700		Toyo Denki Seizo - Toyo Electric Manufacturing Co. Ltd.		40,788		0.0
25,000		Toyo Tire & Rubber Co., Ltd.		379,688		0.3
5,300		Transcosmos, Inc.		132,874		0.1
4,800		Uchida Yoko Co., Ltd.		192,178		0.1
2,400		UNIRITA, Inc.		45,717		0.0
11,600		Valor Holdings Co., Ltd.		274,464		0.2
5,500		Will Group, Inc.		52,868		0.0
6,200		World Holdings Co. Ltd.		112,265		0.1
17		XYMAX REIT Investment Corp.		16,909		0.0
11,676		Yuasa Trading Co., Ltd.		365,069		0.3
1,700		Zaoh Co. Ltd.		21,917		0.0
8,500		Zenkoku Hosho Co. Ltd.		379,423		0.3
16,100		Zeon Corp.		258,486		0.2
				26,636,822		17.9

		Liechtenstein: 0.0%
407		VP Bank AG		50,352		0.0

		Luxembourg: 0.0%
564		Stabilus SA		42,216		0.0

		Malaysia: 0.2%
57,500		AFFIN Bank Bhd		23,278		0.0
10,900		Allianz Malaysia Bhd		36,382		0.1
47,000	⁽¹⁾	Deleum Bhd		6,342		0.0
97,800	⁽¹⁾	KSL Holdings BHD		13,638		0.0

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		Malaysia: (continued)
64,245		Kumpulan Fima BHD	$	28,184		0.0
145,300		Lii Hen Industries BHD		137,627		0.1
210,000		Media Chinese International Ltd.		7,313		0.0
82,400		MKH Bhd		25,006		0.0
				277,770		0.2

		Malta: 1.0%
11,342		Angler Gaming PLC		30,403		0.0
2,588	⁽¹⁾	Kambi Group PLC		144,541		0.1
103,079	⁽¹⁾	Kindred Group PLC		1,236,024		0.9
				1,410,968		1.0

		Mexico: 0.0%
37,119	⁽¹⁾	Credito Real SAB de CV SOFOM ER		19,538		0.0

		Monaco: 0.2%
13,313		Endeavour Mining Corp.		282,761		0.2

		Netherlands: 3.7%
5,877	⁽¹⁾	AerCap Holdings NV		224,736		0.2
1,069	⁽¹⁾	Argenx SE		311,716		0.2
4,653		ASM International NV		1,191,949		0.8
15,993		ASR Nederland NV		619,955		0.4
1,382		BE Semiconductor Industries NV		95,017		0.1
13,733	⁽¹⁾	Brunel International NV		132,825		0.1
14,089	⁽¹⁾	Eurocommercial Properties NV		271,874		0.2
4,673	⁽³⁾	Euronext NV		503,267		0.3
12,321	^(1),(3)	Intertrust NV		189,433		0.1
5,816	⁽¹⁾	Kendrion NV		136,001		0.1
653		Nedap N.V.		38,850		0.0
11,670	^(1),(3)	Signify NV		556,846		0.4
11,173	⁽¹⁾	Randstad NV		698,064		0.5
16,453		SBM Offshore NV		282,413		0.2
478,561	^(1),(2),(4)	SNS Reaal NV		–		–
3,244		TKH Group NV		153,213		0.1
1,914		Vastned Retail NV		54,236		0.0
				5,460,395		3.7

		New Zealand: 0.2%
6,587	⁽¹⁾	Fletcher Building Ltd. (Ticker: FBU AU)		28,839		0.0
3,831	⁽¹⁾	Fletcher Building Ltd. (Ticker: FBU NZ)		17,029		0.0
49,352		NZX Ltd.		72,525		0.1
8,701		PGG Wrightson Ltd.		20,596		0.0
32,962		Skellerup Holdings Ltd.		91,886		0.1
18,851	⁽¹⁾	Vista Group International Ltd.		20,097		0.0
				250,972		0.2

		Norway: 0.2%
6,024		American Shipping Co. ASA		20,149		0.0
2,194		Atea ASA		33,382		0.0
413		Bouvet ASA		30,479		0.0
6,351		Selvaag Bolig ASA		38,704		0.0
1,938		Sparebank 1 Nord Norge		17,542		0.0
25,774		Sparebanken Vest		206,946		0.2
				347,202		0.2

		Philippines: 0.0%
31,770		Ginebra San Miguel, Inc.		38,075		0.0

		Poland: 0.1%
400		Amica Wronki SA		14,947		0.0
2,061	⁽²⁾	Asseco South Eastern Europe SA		21,412		0.0
619		Budimex SA		53,674		0.1
102		Neuca SA		18,620		0.0
317	⁽¹⁾	Stalprodukt SA		27,232		0.0
				135,885		0.1

		Portugal: 0.1%
12,251	⁽¹⁾	CTT-Correios de Portugal SA		35,477		0.0
5,397		Semapa-Sociedade de Investimento e Gestao		57,319		0.1
				92,796		0.1

		Singapore: 1.4%
94,800		AEM Holdings Ltd.		283,358		0.2
3,802		Boustead Singapore Ltd.		2,534		0.0
76,300		China Aviation Oil Singapore Corp. Ltd.		64,767		0.0
198,395		China Sunsine Chemical Holdings Ltd.		67,716		0.0
162,600		CSE Global Ltd.		58,433		0.0
346,600		Frasers Logistics & Commercial Trust		374,653		0.3
102,900		Frencken Group Ltd.		105,733		0.1
8,000		Hanwell Holdings Ltd.		1,659		0.0
9		Ho Bee Land Ltd.		16		0.0
775,000		IGG, Inc.		1,004,477		0.7
13,600	⁽¹⁾	Lian Beng Group Ltd.		4,685		0.0
63,300		Sheng Siong Group Ltd.		76,980		0.1
83,600		Sing Holdings Ltd.		23,235		0.0
13,300		Sing Investments & Finance Ltd.		13,366		0.0
78,392		Tai Sin Electric Ltd.		17,948		0.0
67,951		Tiong Woon Corp. Holding Ltd.		22,251		0.0
				2,121,811		1.4

		South Africa: 0.2%
156,431		Alviva Holdings Ltd.		116,871		0.1
46,167	⁽¹⁾	ArcelorMittal South Africa Ltd.		4,914		0.0
10,764	⁽¹⁾	DataTec Ltd.		17,578		0.0
24,702	⁽¹⁾	Metair Investments Ltd.		30,574		0.0
62,569		Sylvania Platinum Ltd.		87,443		0.1
				257,380		0.2

		South Korea: 5.4%
7,124	⁽¹⁾	Actoz Soft Co. Ltd.		55,233		0.0
167		Asia Holdings Co., Ltd.		13,566		0.0
4,771		BNG Steel Co. Ltd.		91,594		0.1
2,208		Chong Kun Dang Pharmaceutical Corp.		361,237		0.2
545		Cuckoo Holdings Co. Ltd.		46,943		0.0
14,163		Daewon San Up Co. Ltd.		70,714		0.1
4,179		Dong Ah Tire & Rubber Co. Ltd.		97,246		0.1
988		Dongil Industries Co. Ltd.		69,217		0.1
9,145		DONGSUNG Corp.		39,741		0.0
4,291		Douzone Bizon Co. Ltd.		382,284		0.3

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		South Korea: (continued)
8,843		Echo Marketing, Inc.	$	217,991		0.2
1,300		Fursys, Inc.		34,330		0.0
1,288		GS Home Shopping, Inc.		156,841		0.1
9,647	⁽¹⁾	Hansol Technics Co. Ltd.		86,370		0.1
6,033		Hanyang Securities Co. Ltd.		49,844		0.0
13,112		Hite Jinro Co. Ltd.		372,855		0.3
23,062		HS R&A Co. Ltd.		51,355		0.0
3,114		HwaSung Industrial Co. Ltd.		31,527		0.0
1,422		Hyosung TNC Co. Ltd.		378,831		0.3
2,040		IDIS Holdings Co. Ltd.		23,480		0.0
5,587		iMarketKorea, Inc.		41,437		0.0
8,007	⁽¹⁾	Innox Advanced Materials Co. Ltd.		319,026		0.2
5,550		JB Financial Group Co. Ltd.		25,695		0.0
7,628		Jeju Bank		41,694		0.0
6,531	⁽¹⁾	JoyCity Corp.		54,445		0.0
3,015		Kolon Corp.		54,257		0.0
86,541		Korea Asset In Trust Co. Ltd.		296,511		0.2
531		KPX Chemical Co. Ltd.		24,664		0.0
10,813	⁽¹⁾	KT Hitel Co. Ltd.		73,365		0.1
7,798		KT Skylife Co. Ltd.		59,340		0.0
2,451		Kyeryong Construction Industrial Co., Ltd.		66,940		0.1
3,470		LEADCORP, Inc./The		18,708		0.0
1,996		LF Corp.		25,622		0.0
6,621		LG International Corp.		155,926		0.1
15,961	⁽¹⁾	Lock&Lock Co. Ltd.		164,415		0.1
3,197		Maeil Dairies Co. Ltd.		202,069		0.1
145		Mi Chang Oil Industrial Co. Ltd.		8,209		0.0
14,294	⁽¹⁾	Neowiz		302,244		0.2
685		Nice Information & Telecommunication, Inc.		16,870		0.0
7,246	⁽¹⁾	Osstem Implant Co. Ltd.		444,343		0.3
26,692		Partron Co. Ltd.		268,312		0.2
2,805		Pureun Mutual Savings Bank		22,554		0.0
10,720		S&T Dynamics Co., Ltd.		61,937		0.0
6,125		S&T Motiv Co. Ltd.		394,894		0.3
613	⁽¹⁾	Sam Jung Pulp Co. Ltd.		15,582		0.0
8,006		Sam Young Electronics Co. Ltd.		72,574		0.1
3,844		Sambo Corrugated Board Co. Ltd.		38,411		0.0
16,092	⁽¹⁾	Samsung Engineering Co. Ltd.		177,495		0.1
539		SeAH Steel Corp.		21,997		0.0
1,756		Seegene, Inc.		256,186		0.2
7,327		Seoul Semiconductor Co. Ltd.		127,910		0.1
7,102		SFA Engineering Corp.		239,433		0.2
2,692		Soulbrain Co. Ltd./New		644,161		0.4
126		Taekwang Industrial Co. Ltd.		94,383		0.1
6,494		Union Semiconductor Equipment & Materials Co. Ltd.		71,780		0.1
2,906	⁽¹⁾	Coway Co. Ltd.		180,476		0.1
82,316		Woongjin Thinkbig Co., Ltd.		192,361		0.1
4,792		Woory Industrial Co. Ltd.		119,361		0.1
2,166		Yoosung Enterprise Co. Ltd.		5,782		0.0
				8,032,568		5.4

		Spain: 1.8%
5,964		Almirall SA		81,656		0.0
27,154	⁽¹⁾	Applus Services SA		271,587		0.2
7,462	⁽²⁾	Atlantica Yield plc		308,554		0.2
56,354		Bankinter S.A.		316,310		0.2
14,480		Cia de Distribucion Integral Logista Holdings SA		272,404		0.2
101,419		Faes Farma SA		452,091		0.3
33,479		Merlin Properties Socimi SA		320,647		0.2
7,389		Naturhouse Health SAU		15,647		0.0
3,234		Pharma Mar SA		411,053		0.3
3,519		Viscofan SA		248,542		0.2
				2,698,491		1.8

		Sweden: 5.5%
918		Beijer Alma AB		14,820		0.0
2,530		Bergman & Beving AB		30,214		0.0
39,092		Betsson AB		367,371		0.3
2,526	⁽¹⁾	Bilia AB		31,322		0.0
3,108		BioGaia AB		172,613		0.1
51,588	⁽¹⁾	Bonava AB		545,177		0.4
5,180	⁽¹⁾	Boule Diagnostics AB		35,426		0.0
270,332		Bredband2 i Skandinavien AB		69,465		0.0
5,373	⁽¹⁾	Bufab AB		121,057		0.1
17,299	⁽¹⁾	Catella AB		68,523		0.0
9,272	⁽¹⁾	Clas Ohlson AB		84,279		0.1
24,853	^(1),(3)	Dometic Group AB		343,012		0.2
6,300	⁽¹⁾	Doro AB		34,759		0.0
6,305		Ferronordic AB		122,987		0.1
10,068		G5 Entertainment AB		492,069		0.3
57,310		Getinge AB		1,478,269		1.0
39,250	⁽¹⁾	GHP Specialty Care AB		112,712		0.1
5,652	⁽¹⁾	Haldex AB		33,691		0.0
13,206	⁽¹⁾	Humana AB		93,202		0.1
10,089	⁽¹⁾	Inwido AB		137,431		0.1
11,892	⁽¹⁾	KNOW IT AB		399,896		0.3
10,646	⁽¹⁾	Mekonomen AB		119,629		0.1
1,133	⁽¹⁾	Nederman Holding AB		18,258		0.0
33,084	⁽¹⁾	Nobia AB		257,322		0.2
5,741	⁽¹⁾	Nordic Entertainment Group AB		300,505		0.2
3,549		Paradox Interactive AB		98,765		0.1
22,079	⁽¹⁾	Peab AB		245,933		0.2
56,831		Ratos AB		261,313		0.2
5,165	⁽¹⁾	RaySearch Laboratories AB		53,532		0.0
13,029	⁽¹⁾	Recipharm AB		358,612		0.2
146,869	⁽¹⁾	Rottneros AB		150,246		0.1
13,607	⁽¹⁾	Scandi Standard AB		110,213		0.1
4,671		Sectra AB		397,615		0.3
32,700	⁽¹⁾	Stillfront Group AB		346,906		0.2
3,467		SwedenCare AB		137,746		0.1
899	⁽¹⁾	Systemair AB		28,180		0.0
2,024		Tethys Oil AB		12,591		0.0
832	⁽¹⁾	VBG Group AB		16,628		0.0
4,725	⁽¹⁾	Volati AB		62,487		0.0

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		Sweden: (continued)
18,615		Wihlborgs Fastigheter AB	$	382,278		0.3
				8,147,054		5.5

		Switzerland: 6.8%
26,380	^(1),(2)	AC Immune SA		157,752		0.1
22,659		Adecco Group AG		1,415,402		1.0
2,577	⁽¹⁾	Ascom Holding AG		44,076		0.0
1,506	⁽¹⁾	Basilea Pharmaceutica AG		86,153		0.1
895		Bucher Industries AG		423,474		0.3
558		Burkhalter Holding AG		40,030		0.0
1,045	⁽¹⁾	Calida Holding AG		40,447		0.0
21	⁽¹⁾	Carlo Gavazzi Holding AG		4,271		0.0
5,763	⁽¹⁾	Cavotec SA		14,483		0.0
1,474		Cembra Money Bank AG		160,146		0.1
7,352		Coca-Cola HBC AG		217,050		0.1
144		Forbo Holding AG		245,182		0.2
1,332		Helvetia Holding AG		133,422		0.1
623		Implenia AG		17,426		0.0
8,357		Julius Baer Group Ltd.		505,643		0.3
17,922		Logitech International SA		1,861,353		1.3
17		Metall Zug AG		30,693		0.0
2,028	⁽¹⁾	Mikron Holding AG		13,428		0.0
47		Phoenix Mecano AG		24,852		0.0
4,131		PSP Swiss Property AG		528,515		0.4
2,486	⁽¹⁾	Sonova Holding AG - Reg		599,721		0.4
3,571		Sulzer AG		384,698		0.3
1,112		Swiss Life Holding AG		507,022		0.3
3,025		Swissquote Group Holding SA		328,571		0.2
3,377		Tecan Group AG		1,633,916		1.1
5,085		Vontobel Holding AG		410,840		0.3
170	⁽¹⁾	V-ZUG Holding AG		17,048		0.0
5,458	^(1),(3)	Wizz Air Holdings Plc		325,673		0.2
				10,171,287		6.8

		Taiwan: 2.9%
431,000		Acer, Inc.		415,047		0.3
20,363		Airmate Cayman International Co. Ltd.		17,587		0.0
32,000		Basso Industry Corp.		47,941		0.0
47,000		Chien Kuo Construction Co. Ltd.		20,356		0.0
88,000		ChipMOS Technologies, Inc.		105,533		0.1
75,200		Coretronic Corp.		103,381		0.1
71,000		Everlight Electronics Co., Ltd.		105,045		0.1
41,000		First Insurance Co. Ltd./The		18,581		0.0
88,000		Foxsemicon Integrated Technology, Inc.		675,793		0.5
115,000		General Interface Solution Holding Ltd.		460,745		0.3
20,000		Generalplus Technology, Inc.		28,720		0.0
90,000		Gigabyte Technology Co., Ltd.		253,075		0.2
30,000		Global Mixed Mode Technology, Inc.		181,858		0.1
15,000		IEI Integration Corp.		27,040		0.0
31,000		Infortrend Technology, Inc.		13,262		0.0
17,000		Inventec Co., Ltd.		14,115		0.0
12,000		Lumax International Corp., Ltd.		27,860		0.0
4,000		Nishoku Technology, Inc.		14,683		0.0
807,000	⁽¹⁾	Opto Technology Corp.		723,175		0.5
40,606		FocalTech Systems Co. Ltd.		121,372		0.1
27,000		Phison Electronics Corp.		362,893		0.2
46,000		Primax Electronics Ltd.		91,195		0.1
82,000		Solteam, Inc.		198,924		0.1
114,000		Sonix Technology Co. Ltd.		268,090		0.2
10,378		T3EX Global Holdings Corp.		14,091		0.0
60,000		Tsann Kuen Enterprise Co., Ltd.		42,028		0.0
11,000		Winstek Semiconductor Co. Ltd.		10,935		0.0
8,000		X-Legend Entertainment Co. Ltd.		20,498		0.0
				4,383,823		2.9

		Thailand: 0.0%
258,500		Asia Plus Group Holdings PCL		18,788		0.0
109,300		MC Group PCL		35,318		0.0
186		Thai Rayon PCL		175		0.0
2,000		Thai Stanley Electric PCL		11,937		0.0
				66,218		0.0

		Turkey: 0.1%
8,715	⁽¹⁾	Dogus Otomotiv Servis ve Ticaret AS		39,601		0.1
54,874		Emlak Konut Gayrimenkul Yatirim Ortakligi AS		18,059		0.0
7,962	⁽¹⁾	Vestel Elektronik Sanayi ve Ticaret AS		28,509		0.0
6,901		Yeni Gimat Gayrimenkul Ortakligi AS		13,430		0.0
				99,599		0.1

		United Kingdom: 9.0%
137	⁽¹⁾	4imprint Group PLC		4,496		0.0
6,951		888 Holdings PLC		28,762		0.0
537		Aptitude Software Group PLC		4,356		0.0
70,332		B&M European Value Retail SA		514,089		0.3
24,639	⁽¹⁾	Bovis Homes Group PLC		283,749		0.2
23,054		Brickability Group PLC		21,242		0.0
135,515		Cairn Energy PLC		334,305		0.2
2,399		Character Group PLC/The		14,134		0.0
9,389		Chemring Group PLC		37,945		0.0
5,609		Chesnara PLC		21,480		0.0
27,383		Computacenter PLC		876,594		0.6
667		Craneware PLC		20,562		0.0
5,295		Cranswick PLC		246,970		0.2
12,179		Custodian Reit PLC		15,519		0.0
9,468	⁽¹⁾	Dixons Carphone PLC		14,207		0.0
34,498		Drax Group PLC		176,590		0.1
30,080		Eckoh PLC		26,171		0.0
24,921		Electrocomponents PLC		298,460		0.2
40,473	⁽¹⁾	Elementis PLC		61,055		0.1

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value		Percentage of Net Assets
COMMON STOCK: (continued)
		United Kingdom: (continued)
13,463	⁽¹⁾	Entain PLC	$	227,841		0.1
4,087		FDM Group Holdings PLC		55,895		0.0
14,872	⁽¹⁾	Finsbury Food Group PLC		15,486		0.0
17,332		Future PLC		410,604		0.3
18,308		Gamesys Group PLC		318,313		0.2
1,962	⁽¹⁾	Gear4Music Holdings PLC		20,968		0.0
52,698	⁽¹⁾	Gem Diamonds Ltd.		34,586		0.0
1,330		Genus PLC		89,339		0.1
3,406	⁽¹⁾	Go-Ahead Group PLC		45,944		0.1
9,022		Halfords Group PLC		33,685		0.0
590		Hargreaves Services PLC		2,253		0.0
2,445	⁽¹⁾	Headlam Group PLC		13,099		0.0
34,375		Hikma Pharmaceuticals PLC		1,128,848		0.8
52,540	⁽¹⁾	Hummingbird Resources PLC		22,316		0.0
24,620	⁽¹⁾	IDOX PLC		17,879		0.0
23,002		IG Group Holdings PLC		235,725		0.2
24,498		IMI PLC		416,920		0.3
89,261	⁽¹⁾	Indivior PLC		167,552		0.1
12,812		Intermediate Capital Group PLC		297,163		0.2
35,665	⁽¹⁾	International Personal Finance PLC		39,093		0.0
46,449		Investec PLC - INVP - GBP		120,225		0.1
350		Judges Scientific PLC		30,691		0.0
91,872	⁽¹⁾	Just Group PLC		95,829		0.1
6,457		K3 Capital Group PLC		22,295		0.0
109,221		LondonMetric Property PLC		339,946		0.2
136,812	⁽¹⁾	Marks & Spencer Group PLC		264,239		0.2
62,676		Mcbride PLC		67,670		0.1
37,653	⁽¹⁾	Micro Focus International PLC		227,075		0.1
295		Moneysupermarket.com Group PLC		1,076		0.0
5,425		Morgan Sindall PLC		109,847		0.1
4,385	⁽¹⁾	Motorpoint group PLC		17,423		0.0
67,473		Ninety One PLC		215,352		0.1
18,017	⁽¹⁾	Norcros PLC		52,334		0.1
5,993		Numis Corp. PLC		27,019		0.0
60,147	⁽¹⁾	OSB Group PLC		337,881		0.3
2,963	⁽¹⁾	Oxford Instruments Plc		80,016		0.0
30,578		Oxford Metrics PLC		37,916		0.0
40,963	⁽¹⁾	Pagegroup PLC		251,624		0.2
9,945		PayPoint PLC		84,754		0.1
49,900		Pets at Home Group Plc		273,573		0.2
5,533	⁽¹⁾	Playtech Ltd.		35,121		0.0
9,185		Polar Capital Holdings PLC		80,613		0.1
57,398		QinetiQ PLC		235,719		0.2
25,726		Rank Group PLC		43,856		0.0
3,674		Rathbone Brothers PLC		80,641		0.1
39,869	⁽¹⁾	Reach PLC		104,693		0.1
51,453	⁽¹⁾	Redrow PLC		369,481		0.2
908		Ricardo Plc		4,827		0.0
2,983		Robert Walters PLC		22,479		0.0
24,820	⁽¹⁾	RPS Group PLC		24,825		0.0
39,002		Safestore Holdings PLC		431,836		0.3
156,196	⁽¹⁾	Serco Group PLC		249,514		0.2
24,103		Severfield PLC		23,117		0.0
46,641	⁽¹⁾	Speedy Hire PLC		42,762		0.0
101,678		Spirent Communications PLC		330,919		0.2
8,478	⁽¹⁾	SThree PLC		37,404		0.0
71,061		Stock Spirits Group PLC		264,354		0.2
3,582		Stolt-Nielsen Ltd.		49,630		0.0
50,599		Synthomer PLC		297,374		0.2
34,126		Tate & Lyle PLC		321,419		0.2
17,779	⁽¹⁾	Ted Baker PLC		24,579		0.0
13,201	⁽¹⁾	Telit Communications PLC		37,079		0.0
8,891		Trans-Siberian Gold PLC		13,644		0.0
18,441	⁽¹⁾	Travis Perkins PLC		339,357		0.2
9,386		Ultra Electronics Holdings PLC		255,708		0.2
20,982	⁽¹⁾	Unite Group PLC		275,189		0.2
59,251	⁽¹⁾	Vectura Group PLC		94,821		0.1
56,405	⁽¹⁾	XLMedia PLC		26,469		0.0
3,585		YouGov PLC		50,348		0.1
				13,418,758		9.0

		United States: 0.5%
13,800	⁽¹⁾	Atlantic Power Corp.	40,793	0.0
7,362	⁽¹⁾	Nova Measuring Instruments Ltd.	512,616	0.4
13,788	⁽¹⁾	Viemed Healthcare, Inc.	115,479	0.1
			668,888	0.5

	Total Common Stock
	(Cost $119,356,137)		145,031,209	97.4

EXCHANGE-TRADED FUNDS: 0.3%
8,496		Vanguard FTSE Developed Markets ETF	398,207	0.3

	Total Exchange-Traded Funds
	(Cost $400,501)		398,207	0.3

PREFERRED STOCK: 1.4%
		Brazil: 0.3%
181,700		Usinas Siderurgicas de Minas Gerais SA Usiminas	439,356	0.3

		Denmark: 0.1%
575		Brodrene A&O Johansen A/S	61,923	0.1

		Germany: 1.0%
7,874		Draegerwerk AG & Co. KGaA	671,436	0.5
856		Einhell Germany AG	122,483	0.1
7,218		Jungheinrich AG	329,111	0.2
159		KSB SE & Co. KGaA	45,537	0.0
39,645		Schaeffler AG	313,300	0.2
116		STO AG	18,413	0.0
1,593		Villeroy & Boch AG	30,254	0.0
			1,530,534	1.0

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Shares			Value			Percentage of Net Assets
PREFERRED STOCK: (continued)
		South Africa: 0.0%
776		Absa Bank Ltd.	$	30,783			0.0

	Total Preferred Stock
	(Cost $1,702,375)			2,062,596			1.4

	Total Long-Term Investments
	(Cost $121,459,013)			147,492,012			99.1

Principal Amount†				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 1.4%
		Repurchase Agreements: 0.6%
882,535	⁽⁵⁾	RBC Dominion Securities Inc., Repurchase Agreement dated 01/29/21, 0.06%, due 02/01/21 (Repurchase Amount $882,539, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-7.625%, Market Value plus accrued interest $900,186, due 02/18/21-01/20/51)
		(Cost $882,535)		882,535			0.6

Shares				Value			Percentage of Net Assets
		Mutual Funds: 0.8%
1,176,454	⁽⁶⁾	BlackRock Liquidity Funds, FedFund, Institutional Class, 0.010%
		(Cost $1,176,454)		1,176,454			0.8

	Total Short-Term Investments
	(Cost $2,058,989)			2,058,989			1.4

	Total Investments in Securities (Cost $123,518,002)		$	149,551,001			100.5
	Liabilities in Excess of Other Assets			(728,153	)		(0.5)
	Net Assets		$	148,822,848			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
ADR	American Depositary Receipt
(1)	Non-income producing security.
(2)	Security, or a portion of the security, is on loan.
(3)	Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.
(4)	For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.
(5)	All or a portion of the security represents securities purchased with cash collateral received for securities on loan.
(6)	Rate shown is the 7-day yield as of January 31, 2021.

Sector Diversification	Percentage of Net Assets
Industrials		17.5	%
Information Technology		16.6
Consumer Discretionary		15.7
Materials		12.0
Health Care		11.7
Financials		7.5
Real Estate		6.9
Communication Services		5.3
Consumer Staples		2.7
Utilities		1.6
Energy		1.3
Exchange-Traded Funds		0.3
Short-Term Investments		1.4
Liabilities in Excess of Other Assets		(0.5	)
Net Assets		100.0	%

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of January 31, 2021 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 January 31, 2021
Asset Table
Investments, at fair value
Common Stock
Australia	$	19,096	$	11,652,042	$	–	$	11,671,138
Austria		49,108		572,384		–		621,492
Azerbaijan		31,882		–		–		31,882
Belgium		35,709		393,562		–		429,271
Canada		11,236,864		–		–		11,236,864
China		377,241		1,401,308		–		1,778,549
Czech Republic		–		238,520		–		238,520
Denmark		127,074		2,602,793		–		2,729,867
Finland		192,017		2,040,443		–		2,232,460
France		840,507		7,059,941		–		7,900,448
Germany		2,421,991		7,920,245		–		10,342,236
Greece		–		20,964		–		20,964
Hong Kong		193,377		3,251,487		–		3,444,864
India		15,313		462,757		–		478,070
Ireland		220,918		735,954		–		956,872
Israel		1,261,934		624,752		–		1,886,686
Italy		56,995		3,862,402		–		3,919,397
Japan		19,604		26,617,218		–		26,636,822
Liechtenstein		50,352		–		–		50,352
Luxembourg		–		42,216		–		42,216
Malaysia		7,313		270,457		–		277,770
Malta		–		1,410,968		–		1,410,968
Mexico		19,538		–		–		19,538
Monaco		282,761		–		–		282,761
Netherlands		411,797		5,048,598		–		5,460,395
New Zealand		–		250,972		–		250,972
Norway		38,704		308,498		–		347,202
Philippines		–		38,075		–		38,075
Poland		135,885		–		–		135,885
Portugal		–		92,796		–		92,796
Singapore		35,633		2,086,178		–		2,121,811
South Africa		257,380		–		–		257,380
South Korea		–		8,032,568		–		8,032,568
Spain		572,743		2,125,748		–		2,698,491
Sweden		1,524,526		6,622,528		–		8,147,054
Switzerland		237,117		9,934,170		–		10,171,287
Taiwan		–		4,383,823		–		4,383,823
Thailand		–		66,218		–		66,218
Turkey		41,939		57,660		–		99,599
United Kingdom		1,815,531		11,603,227		–		13,418,758
United States		668,888		–		–		668,888
Total Common Stock		23,199,737		121,831,472		–		145,031,209
Exchange-Traded Funds		398,207		–		–		398,207
Preferred Stock		626,266		1,436,330		–		2,062,596
Short-Term Investments		1,176,454		882,535		–		2,058,989
Total Investments, at fair value	$	25,400,664	$	124,150,337	$	–	$	149,551,001

The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a portion of the Fund's investments are categorized as Level 2 investments.

Voya Multi-Manager International Small Cap Fund	PORTFOLIO OF INVESTMENTS
	as of January 31, 2021 (Unaudited) (Continued)

At January 31, 2021, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

Cost for federal income tax purposes was $125,015,525.

Net unrealized appreciation consisted of:

Gross Unrealized Appreciation	$	32,333,244
Gross Unrealized Depreciation		(7,557,234	)
Net Unrealized Appreciation	$	24,776,010

Voya MUTUAL FUNDS NPORT-PVoya Multi-manager International Small Cap Fund (Jan 2021 report)