PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(unaudited)
1
Voya
Strategic
Allocation
Moderate
Portfolio
Shares
RA
Value
Percentage
of
Net
Assets
EXCHANGE-TRADED
FUNDS
:
0
.9
%
19,155
Vanguard
Long-Term
Treasury
ETF
$
1,063,294
0
.9
Total
Exchange-Traded
Funds
(Cost
$1,202,244)
1,063,294
0
.9
MUTUAL
FUNDS
:
99
.0
%
Affiliated
Investment
Companies
:
99
.0
%
3,627,452
Voya
Intermediate
Bond
Fund
- Class
R6
30,107,851
26
.1
1,530,450
Voya
Large
Cap
Value
Portfolio
- Class
R6
8,111,384
7
.0
69,542
Voya
Large-Cap
Growth
Fund
- Class
R6
2,839,415
2
.5
634,203
Voya
Limited
Maturity
Bond
Portfolio
- Class
I
5,910,770
5
.1
755,222
(1)
Voya
MidCap
Opportunities
Portfolio
- Class
R6
3,443,810
3
.0
383,281
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
- Class
I
3,422,699
3
.0
339,857
Voya
Multi-Manager
International
Equity
Fund
- Class
I
3,099,493
2
.7
368,596
Voya
Multi-Manager
International
Factors
Fund
- Class
I
3,166,244
2
.8
393,987
Voya
Multi-Manager
Mid
Cap
Value
Fund
- Class
I
3,411,923
3
.0
386,662
Voya
Short
Term
Bond
Fund
- Class
R6
3,549,559
3
.1
32,736
(1)
Voya
Small
Cap
Growth
Fund
- Class
R6
1,160,491
1
.0
173,617
Voya
Small
Company
Fund
- Class
R6
2,310,841
2
.0
2,088,526
Voya
U.S.
Stock
Index
Portfolio
- Class
I
33,771,465
29
.3
512,203
VY
®
BrandywineGLOBAL
-
Bond
Portfolio
- Class
I
4,522,750
3
.9
Shares
Value
Percentage
of
Net
Assets
MUTUAL
FUNDS:
(continued)
Affiliated
Investment
Companies:
(continued)
68,753
VY
®
T.
Rowe
Price
Growth
Equity
Portfolio
- Class
I
$
5,196,352
4
.5
114,025,047
99
.0
Total
Mutual
Funds
(Cost
$119,696,352)
114,025,047
99
.0
Total
Long-Term
Investments
(Cost
$120,898,596)
115,088,341
99
.9
Total
Investments
in
Securities
(Cost
$120,898,596)
$
115,088,341
99
.9
Assets
in
Excess
of
Other
Liabilities
122,326
0.1
Net
Assets
$
115,210,667
100.0
(1)
Non-income
producing
security.
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(unaudited)
(continued)
2
Voya
Strategic
Allocation
Moderate
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
$
1,063,294
$
—
$
—
$
1,063,294
Mutual
Funds
114,025,047
—
—
114,025,047
Total
Investments,
at
fair
value
$
115,088,341
$
—
$
—
$
115,088,341
Other
Financial
Instruments+
Futures
53,440
—
—
53,440
Total
Assets
$
115,141,781
$
—
$
—
$
115,141,781
Liabilities
Table
Other
Financial
Instruments+
Futures
$
(
80,315
)
$
—
$
—
$
(
80,315
)
Total
Liabilities
$
(
80,315
)
$
—
$
—
$
(
80,315
)
+
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
$
27,440,957
$
6,091,444
$
(
2,954,813
)
$
(
469,737
)
$
30,107,851
$
869,678
$
(
479,165
)
$
—
Voya
Large
Cap
Value
Portfolio
-
Class
R6
7,894,696
700,747
(
1,629,635
)
1,145,576
8,111,384
—
(
1,014,588
)
98,567
Voya
Large-Cap
Growth
Fund
-
Class
R6
2,668,114
239,697
(
768,880
)
700,484
2,839,415
—
(
122,316
)
—
Voya
Limited
Maturity
Bond
Portfolio
-
Class
I
7,245,701
903,079
(
2,265,092
)
27,082
5,910,770
165,143
(
81,554
)
—
Voya
MidCap
Opportunities
Portfolio
-
Class
R6
2,727,527
870,161
(
818,173
)
664,295
3,443,810
—
(
324,622
)
—
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
-
Class
I
2,343,446
1,353,078
(
387,465
)
113,640
3,422,699
—
(
46,415
)
—
Voya
Multi-Manager
International
Equity
Fund
-
Class
I
1,876,988
1,638,067
(
414,127
)
(
1,435
)
3,099,493
—
(
9,673
)
—
Voya
Multi-Manager
International
Factors
Fund
-
Class
I
3,072,571
458,120
(
602,324
)
237,877
3,166,244
—
(
59,089
)
—
Voya
Multi-Manager
Mid
Cap
Value
Fund
-
Class
I
2,817,739
907,685
(
337,513
)
24,012
3,411,923
—
(
42,849
)
—
Voya
Short
Term
Bond
Fund
-
Class
R6
—
3,749,141
(
155,765
)
(
43,817
)
3,549,559
64,765
(
1,062
)
—
Voya
Small
Cap
Growth
Fund
-
Class
R6
1,067,001
174,133
(
167,373
)
86,730
1,160,491
—
1,692
—
Voya
Small
Company
Fund
-
Class
R6
2,212,980
315,263
(
322,964
)
105,562
2,310,841
—
(
3,555
)
—
Voya
U.S.
Stock
Index
Portfolio
-
Class
I
37,469,293
5,011,597
(
9,295,758
)
586,333
33,771,465
26,222
724,433
3,231,599
PORTFOLIO
OF
INVESTMENTS
as
of
September
30,
2023
(unaudited)
(continued)
3
Voya
Strategic
Allocation
Moderate
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
®
BrandywineGLOBAL
-
Bond
Portfolio
-
Class
I
$
4,474,564
$
734,007
$
(
526,585
)
$
(
159,236
)
$
4,522,750
$
105,025
$
(
75,072
)
$
—
VY
®
T.
Rowe
Price
Growth
Equity
Portfolio
-
Class
I
4,807,239
491,046
(
2,572,112
)
2,470,179
5,196,352
—
(
1,113,446
)
83,908
$
108,118,816
$
23,637,265
$
(
23,218,579
)
$
5,487,545
$
114,025,047
$
1,230,833
$
(
2,647,281
)
$
3,414,074
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
Moderate
Portfolio:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Appreciation/
(Depreciation)
Long
Contracts:
U.S.
Treasury
Ultra
Long
Bond
9
12/19/23
$
1,068,187
$
(
80,315
)
$
1,068,187
$
(
80,315
)
Short
Contracts:
S&P
500
E-Mini
(5)
12/15/23
(
1,081,375
)
53,440
$
(
1,081,375
)
$
53,440
Net
unrealized
depreciation
consisted
of:
Gross
Unrealized
Appreciation
$
3,496,854
Gross
Unrealized
Depreciation
(
9,307,110
)
Net
Unrealized
Depreciation
$
(
5,810,256
)