PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(unaudited)
1
Voya
Strategic
Allocation
Growth
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
EXCHANGE-TRADED
FUNDS
:
0
.9
%
21,210
Vanguard
Long-Term
Treasury
ETF
$
1,177,367
0
.9
Total
Exchange-Traded
Funds
(Cost
$1,330,910)
1,177,367
0
.9
MUTUAL
FUNDS
:
99
.0
%
Affiliated
Investment
Companies
:
99
.0
%
2,165,415
Voya
Intermediate
Bond
Fund
- Class
R6
17,972,941
14
.1
1,213,408
Voya
Large
Cap
Value
Portfolio
- Class
R6
6,431,062
5
.1
282,130
Voya
Limited
Maturity
Bond
Portfolio
- Class
I
2,629,449
2
.1
1,255,324
(1)
Voya
MidCap
Opportunities
Portfolio
- Class
R6
5,724,276
4
.5
426,087
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
- Class
I
3,804,955
3
.0
682,461
Voya
Multi-Manager
International
Equity
Fund
- Class
I
6,224,044
4
.9
668,990
Voya
Multi-Manager
International
Factors
Fund
- Class
I
5,746,624
4
.5
654,868
Voya
Multi-Manager
Mid
Cap
Value
Fund
- Class
I
5,671,159
4
.5
143,367
Voya
Short
Term
Bond
Fund
- Class
R6
1,316,109
1
.0
72,549
(1)
Voya
Small
Cap
Growth
Fund
- Class
R6
2,571,868
2
.0
288,500
Voya
Small
Company
Fund
- Class
R6
3,839,937
3
.0
3,258,337
Voya
U.S.
Stock
Index
Portfolio
- Class
I
52,687,307
41
.4
567,518
VY
®
BrandywineGLOBAL
-
Bond
Portfolio
- Class
I
5,011,186
3
.9
84,661
VY
®
T.
Rowe
Price
Growth
Equity
Portfolio
- Class
I
6,398,684
5
.0
126,029,601
99
.0
Total
Mutual
Funds
(Cost
$128,805,503)
126,029,601
99
.0
Total
Long-Term
Investments
(Cost
$130,136,413)
127,206,968
99
.9
Total
Investments
in
Securities
(Cost
$130,136,413)
$
127,206,968
99
.9
Assets
in
Excess
of
Other
Liabilities
80,259
0.1
Net
Assets
$
127,287,227
100.0
(1)
Non-income
producing
security.
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(unaudited)
(continued)
2
Voya
Strategic
Allocation
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
Exchange-Traded
Funds
$
1,177,367
$
—
$
—
$
1,177,367
Mutual
Funds
126,029,601
—
—
126,029,601
Total
Investments,
at
fair
value
$
127,206,968
$
—
$
—
$
127,206,968
Other
Financial
Instruments+
Futures
64,128
—
—
64,128
Total
Assets
$
127,271,096
$
—
$
—
$
127,271,096
Liabilities
Table
Other
Financial
Instruments+
Futures
$
(
89,239
)
$
—
$
—
$
(
89,239
)
Total
Liabilities
$
(
89,239
)
$
—
$
—
$
(
89,239
)
+
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
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
Intermediate
Bond
Fund
-
Class
R6
$
14,007,479
$
6,044,579
$
(
1,691,396
)
$
(
387,721
)
$
17,972,941
$
499,186
$
(
237,562
)
$
—
Voya
Large
Cap
Value
Portfolio
-
Class
R6
6,167,018
656,207
(
1,285,187
)
893,024
6,431,062
—
(
796,237
)
78,249
Voya
Limited
Maturity
Bond
Portfolio
-
Class
I
3,058,008
1,630,727
(
2,033,094
)
(
26,192
)
2,629,449
61,754
(
1,006
)
—
Voya
MidCap
Opportunities
Portfolio
-
Class
R6
4,735,448
1,124,917
(
1,176,244
)
1,040,155
5,724,276
—
(
468,293
)
—
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
-
Class
I
3,852,268
1,599,573
(
2,050,725
)
403,839
3,804,955
—
(
245,397
)
—
Voya
Multi-Manager
International
Equity
Fund
-
Class
I
6,560,912
529,320
(
1,279,139
)
412,951
6,224,044
—
(
206,550
)
—
Voya
Multi-Manager
International
Factors
Fund
-
Class
I
5,185,467
1,071,563
(
861,137
)
350,731
5,746,624
—
(
48,509
)
—
Voya
Multi-Manager
Mid
Cap
Value
Fund
-
Class
I
4,890,418
1,247,299
(
470,053
)
3,495
5,671,159
—
(
50,598
)
—
Voya
Short
Term
Bond
Fund
-
Class
R6
—
1,350,715
(
27,569
)
(
7,037
)
1,316,109
14,304
(
98
)
—
Voya
Small
Cap
Growth
Fund
-
Class
R6
2,343,974
342,864
(
303,894
)
188,924
2,571,868
—
1,690
—
Voya
Small
Company
Fund
-
Class
R6
3,636,881
505,795
(
471,625
)
168,886
3,839,937
—
(
6,387
)
—
Voya
U.S.
Stock
Index
Portfolio
-
Class
I
52,694,277
7,765,247
(
8,763,679
)
991,462
52,687,307
40,999
576,261
5,052,586
VY
®
BrandywineGLOBAL
-
Bond
Portfolio
-
Class
I
4,853,319
932,959
(
596,912
)
(
178,180
)
5,011,186
116,769
(
84,492
)
—
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(unaudited)
(continued)
3
Voya
Strategic
Allocation
Growth
Portfolio
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
VY
®
T.
Rowe
Price
Growth
Equity
Portfolio
-
Class
I
$
5,742,597
$
667,009
$
(
2,796,231
)
$
2,785,309
$
6,398,684
$
—
$
(
1,138,785
)
$
103,838
$
117,728,066
$
25,468,774
$
(
23,806,885
)
$
6,639,646
$
126,029,601
$
733,012
$
(
2,705,963
)
$
5,234,673
The
financial
statements
for
the
above
mutual
fund[s]
can
be
found
at
www.sec.gov.
At
September
30,
2023,
the
following
futures
contracts
were
outstanding
for
Voya
Strategic
Allocation
Growth
Portfolio:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Appreciation/
(Depreciation)
Long
Contracts:
U.S.
Treasury
Ultra
Long
Bond
10
12/19/23
$
1,186,875
$
(
89,239
)
$
1,186,875
$
(
89,239
)
Short
Contracts:
S&P
500
E-Mini
(6)
12/15/23
(
1,297,650
)
64,128
$
(
1,297,650
)
$
64,128
Net
unrealized
depreciation
consisted
of:
Gross
Unrealized
Appreciation
$
4,699,581
Gross
Unrealized
Depreciation
(
7,629,027
)
Net
Unrealized
Depreciation
$
(
2,929,446
)