| Voya Strategic Allocation Moderate Portfolio | PORTFOLIO OF INVESTMENTS |
| as of March 31, 2022 (Unaudited) |
| Shares | | | | Value | | Percentage
of Net
Assets |
| EXCHANGE-TRADED FUNDS: 10.1% |
| 19,276 | | iShares 20+ Year Treasury Bond ETF | $ | 2,545,974 | | 1.9 |
| 20,684 | | iShares Russell 2000 ETF | | 4,245,805 | | 3.2 |
| 27,071 | | Vanguard Emerging Markets ETF | | 1,248,785 | | 0.9 |
| 27,531 | | Vanguard FTSE Developed Markets ETF | | 1,322,314 | | 1.0 |
| 28,118 | | Vanguard Value ETF | | 4,155,278 | | 3.1 |
| | | | | | | |
| | Total Exchange-Traded Funds | | | | |
| | (Cost $11,864,369) | | 13,518,156 | | 10.1 |
| | | | | | |
| MUTUAL FUNDS: 89.8% |
| | | Affiliated Investment Companies: 89.8% |
| 2,887,520 | | Voya Intermediate Bond Fund - Class R6 | | 27,604,690 | | 20.6 |
| 385,393 | | Voya Large Cap Value Portfolio - Class R6 | | 5,507,266 | | 4.1 |
| 64,768 | | Voya Large-Cap Growth Fund - Class R6 | | 3,423,628 | | 2.6 |
| 272,215 | | Voya Limited Maturity Bond Portfolio - Class I | | 2,664,983 | | 2.0 |
| 215,731 | | Voya MidCap Opportunities Portfolio - Class R6 | | 3,440,911 | | 2.6 |
| 238,473 | | Voya Multi-Manager Emerging Markets Equity Fund - Class I | | 2,439,576 | | 1.8 |
| 627,258 | | Voya Multi-Manager International Equity Fund - Class I | | 6,372,946 | | 4.7 |
| 426,062 | | Voya Multi-Manager International Factors Fund - Class I | | 3,966,639 | | 3.0 |
| 332,372 | | Voya Multi-Manager Mid Cap Value Fund - Class I | | 3,383,544 | | 2.5 |
| 522,912 | | Voya U.S. Bond Index Portfolio - Class I | | 5,270,957 | | 3.9 |
| 2,224,191 | | Voya U.S. Stock Index Portfolio - Class I | | 46,374,388 | | 34.5 |
| 371,649 | | VY® BrandywineGLOBAL - Bond Portfolio - Class I | | 4,050,972 | | 3.0 |
| 59,763 | | VY® T. Rowe Price Growth Equity Portfolio - Class I | | 6,025,353 | | 4.5 |
| | | | | | | |
| | Total Mutual Funds | | | | |
| | (Cost $109,100,514) | | 120,525,853 | | 89.8 |
| | | Total Investments in Securities
(Cost $120,964,883) | $ | 134,044,009 | | 99.9 |
| | | Assets in Excess of Other Liabilities | | 180,215 | | 0.1 |
| | | Net Assets | $ | 134,224,224 | | 100.0 |
| Voya Strategic Allocation Moderate Portfolio | PORTFOLIO OF INVESTMENTS |
| as of March 31, 2022 (Unaudited) (Continued) |
| Fair Value Measurements |
| The following is a summary of the fair valuations according to the inputs used as of March 31, 2022 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
March 31, 2022 | |
| Asset Table | | | | | | | | | | | | | | | | |
| Investments, at fair value | | | | | | | | | | | | | | | | |
| Exchange-Traded Funds | | $ | 13,518,156 | | | $ | – | | | $ | – | | | $ | 13,518,156 | |
| Mutual Funds | | | 120,525,853 | | | | – | | | | – | | | | 120,525,853 | |
| Total Investments, at fair value | | $ | 134,044,009 | | | $ | – | | | $ | – | | | $ | 134,044,009 | |
| Liabilities Table | | | | | | | | | | | | | | | | |
| Other Financial Instruments+ | | | | | | | | | | | | | | | | |
| Futures | | $ | (187,690 | ) | | $ | – | | | $ | – | | | $ | (187,690 | ) |
| Total Liabilities | | $ | (187,690 | ) | | $ | – | | | $ | – | | | $ | (187,690 | ) |
| + | 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. |
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 March 31, 2022, where the following issuers were considered an affiliate:
| Issuer | | Beginning Fair Value at
12/31/2021 | | | Purchases at Cost | | | Sales at Cost | | | Change in Unrealized
Appreciation/(Depreciation) | | | Ending Fair Value at
3/31/2022 | | | Investment Income | | | Realized
Gains/(Losses) | | | Net Capital Gain
Distributions | |
| Voya High Yield Bond Fund - Class R6 | | $ | 11,576,825 | | | $ | 62,194 | | | $ | (10,951,692 | ) | | $ | (687,327 | ) | | $ | - | | | $ | 50,825 | | | $ | 361,701 | | | $ | - | |
| Voya Intermediate Bond Fund - Class R6 | | | 25,781,112 | | | | 6,966,250 | | | | (3,401,955 | ) | | | (1,740,717 | ) | | | 27,604,690 | | | | 162,756 | | | | (241,838 | ) | | | - | |
| Voya Large Cap Value Portfolio - Class R6 | | | 5,816,856 | | | | 45,025 | | | | (457,337 | ) | | | 102,722 | | | | 5,507,266 | | | | - | | | | (4,492 | ) | | | - | |
| Voya Large-Cap Growth Fund - Class R6 | | | 3,660,398 | | | | 152,474 | | | | (66,883 | ) | | | (322,361 | ) | | | 3,423,628 | | | | - | | | | (7,975 | ) | | | - | |
| Voya Limited Maturity Bond Portfolio - Class I | | | 2,855,360 | | | | 22,761 | | | | (139,314 | ) | | | (73,824 | ) | | | 2,664,983 | | | | 7,535 | | | | (3,858 | ) | | | - | |
| Voya MidCap Opportunities Portfolio - Class R6 | | | 3,409,118 | | | | 498,570 | | | | (79,332 | ) | | | (387,445 | ) | | | 3,440,911 | | | | - | | | | (20,425 | ) | | | - | |
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | | | 2,756,425 | | | | 113,043 | | | | (79,145 | ) | | | (350,747 | ) | | | 2,439,576 | | | | - | | | | (22,625 | ) | | | - | |
| Voya Multi-Manager International Equity Fund - Class I | | | 7,030,839 | | | | 268,994 | | | | (173,863 | ) | | | (753,024 | ) | | | 6,372,946 | | | | - | | | | (51,350 | ) | | | - | |
| Voya Multi-Manager International Factors Fund - Class I | | | 4,289,062 | | | | 20,179 | | | | (130,302 | ) | | | (212,300 | ) | | | 3,966,639 | | | | - | | | | (15,841 | ) | | | - | |
| Voya Multi-Manager Mid Cap Value Fund - Class I | | | 3,715,491 | | | | 16,080 | | | | (174,606 | ) | | | (173,421 | ) | | | 3,383,544 | | | | - | | | | (19,942 | ) | | | - | |
| Voya U.S. Bond Index Portfolio - Class I | | | 5,719,247 | | | | 47,691 | | | | (154,124 | ) | | | (341,857 | ) | | | 5,270,957 | | | | 21,963 | | | | (12,339 | ) | | | - | |
| Voya U.S. Stock Index Portfolio - Class I | | | 53,435,261 | | | | 244,962 | | | | (4,934,535 | ) | | | (2,371,300 | ) | | | 46,374,388 | | | | - | | | | (314,250 | ) | | | - | |
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | | | - | | | | 4,168,751 | | | | (60,141 | ) | | | (57,638 | ) | | | 4,050,972 | | | | - | | | | (906 | ) | | | - | |
| VY® T. Rowe Price Growth Equity Portfolio - Class I | | | 6,382,074 | | | | 750,295 | | | | (140,694 | ) | | | (966,322 | ) | | | 6,025,353 | | | | - | | | | (34,661 | ) | | | - | |
| | | $ | 136,428,068 | | | $ | 13,377,269 | | | $ | (20,943,923 | ) | | $ | (8,335,561 | ) | | $ | 120,525,853 | | | $ | 243,079 | | | $ | (388,801 | ) | | $ | - | |
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
| At March 31, 2022, the following futures contracts were outstanding for Voya Strategic Allocation Moderate Portfolio: |
| Description | | Number
of Contracts | | | Expiration
Date | | Notional
Amount | | | Unrealized
Appreciation/
(Depreciation) | |
| Long Contracts: | | | | | | | | | | | | | | |
| 90-Day Eurodollar | | | 11 | | | 06/13/22 | | $ | 2,707,925 | | | $ | (3,121 | ) |
| | | | | | | | | $ | 2,707,925 | | | $ | (3,121 | ) |
| Short Contracts: | | | | | | | | | | | | | | |
| MSCI EAFE Index | | | (13) | | | 06/17/22 | | | (1,393,860 | ) | | | (73,538 | ) |
| MSCI Emerging Markets Index | | | (24) | | | 06/17/22 | | | (1,350,600 | ) | | | (111,031 | ) |
| | | | | | | | | $ | (2,744,460 | ) | | $ | (184,569 | ) |
| At March 31, 2022, 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 $122,736,528. |
| |
| Net unrealized appreciation consisted of: |
| |
| Gross Unrealized Appreciation | | $ | 16,354,115 | |
| Gross Unrealized Depreciation | | | (5,234,324 | ) |
| Net Unrealized Appreciation | | $ | 11,119,791 | |
