| Voya Strategic Allocation Conservative Portfolio | PORTFOLIO OF INVESTMENTS |
| As of September 30, 2022 (Unaudited) |
| Shares | Value | Percentage of Net Assets | ||||
| EXCHANGE-TRADED FUNDS: 6.9% | ||||||
| 16,132 | iShares 20+ Year Treasury Bond ETF | $ | 1,652,723 | 3.0 | ||
| 12,259 | iShares Core S&P Small-Cap ETF | 1,068,862 | 1.9 | |||
| 21,817 | Schwab U.S. TIPS ETF | 1,130,121 | 2.0 | |||
| Total Exchange-Traded Funds | ||||||
| (Cost $4,542,558) | 3,851,706 | 6.9 | ||||
| MUTUAL FUNDS: 92.9% | ||||||
| Affiliated Investment Companies: 92.9% | ||||||
| 315,733 | Voya Global Bond Fund - Class R6 | 2,222,761 | 4.0 | |||
| 440,524 | Voya High Yield Bond Fund - Class R6 | 2,867,809 | 5.2 | |||
| 1,922,019 | Voya Intermediate Bond Fund - Class R6 | 16,298,725 | 29.4 | |||
| 345,320 | Voya Large Cap Value Portfolio - Class R6 | 1,616,097 | 2.9 | |||
| 40,249 | Voya Large-Cap Growth Fund - Class R6 | 1,610,354 | 2.9 | |||
| 660,526 | Voya Limited Maturity Bond Portfolio - Class I | 6,235,368 | 11.2 | |||
| 142,320 | Voya MidCap Opportunities Portfolio - Class R6 | 559,319 | 1.0 | |||
| 133,761 | Voya Multi-Manager Emerging Markets Equity Fund - Class I | 1,076,775 | 1.9 | |||
| 31,698 | Voya Multi-Manager International Equity Fund - Class I | 244,077 | 0.4 | |||
| 177,802 | Voya Multi-Manager International Factors Fund - Class I | 1,283,730 | 2.3 | |||
| 63,825 | Voya Multi-Manager Mid Cap Value Fund - Class I | 539,963 | 1.0 | |||
| 86,470 | (1) | Voya Small Company Fund - Class R6 | 990,941 | 1.8 | ||
| 186,494 | Voya U.S. Bond Index Portfolio - Class I | 1,687,770 | 3.0 | |||
| 271,534 | Voya U.S. High Dividend Low Volatility Fund - Class R6 | 2,745,208 | 4.9 | |||
| 521,644 | Voya U.S. Stock Index Portfolio - Class I | 7,767,281 | 14.0 | |||
| 242,472 | VY® BrandywineGLOBAL - Bond Portfolio - Class I | 2,254,991 | 4.1 | |||
| 26,438 | VY® T. Rowe Price Growth Equity Portfolio - Class I | 1,587,582 | 2.9 | |||
| Total Mutual Funds | ||||||
| (Cost $59,057,870) | 51,588,751 | 92.9 | ||||
| Total Investments in Securities (Cost $63,600,428) |
$ | 55,440,457 | 99.8 | |||
| Assets in Excess of Other Liabilities | 91,990 | 0.2 | ||||
| Net Assets | $ | 55,532,447 | 100.0 | |||
| (1) | Non-income producing security. |
| Voya Strategic Allocation Conservative Portfolio | PORTFOLIO OF INVESTMENTS |
| As of September 30, 2022 (Unaudited) (Continued) |
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of September 30, 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 September 30, 2022 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Exchange-Traded Funds | $ | 3,851,706 | $ | – | $ | – | $ | 3,851,706 | ||||||||
| Mutual Funds | 51,588,751 | – | – | 51,588,751 | ||||||||||||
| Total Investments, at fair value | $ | 55,440,457 | $ | – | $ | – | $ | 55,440,457 | ||||||||
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, 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 9/30/2022 | Investment Income | Realized Gains/(Losses) | Net Capital Gain Distributions | ||||||||||||||||||||
| Voya Global Bond Fund - Class R6 | $ | 2,954,609 | $ | 370,539 | $ | (492,102 | ) | $ | (610,285 | ) | $ | 2,222,761 | $ | 79,575 | $ | (82,616 | ) | $ | - | |||||||||
| Voya High Yield Bond Fund - Class R6 | 9,794,752 | 478,535 | (6,529,035 | ) | (876,443 | ) | 2,867,809 | 156,326 | 15,153 | - | ||||||||||||||||||
| Voya Intermediate Bond Fund - Class R6 | 17,119,861 | 7,908,895 | (5,834,244 | ) | (2,895,787 | ) | 16,298,725 | 390,777 | (576,635 | ) | 44 | |||||||||||||||||
| Voya Large Cap Value Portfolio - Class R6 | - | 3,306,419 | (470,935 | ) | (1,219,387 | ) | 1,616,097 | - | (183,225 | ) | 1,087,918 | |||||||||||||||||
| Voya Large-Cap Growth Fund - Class R6 | 1,906,044 | 752,337 | (452,266 | ) | (595,761 | ) | 1,610,354 | - | (69,527 | ) | - | |||||||||||||||||
| Voya Limited Maturity Bond Portfolio - Class I | 3,716,334 | 6,140,607 | (3,391,344 | ) | (230,229 | ) | 6,235,368 | 60,747 | (97,937 | ) | - | |||||||||||||||||
| Voya MidCap Opportunities Portfolio - Class R6 | 1,065,126 | 658,485 | (671,605 | ) | (492,687 | ) | 559,319 | - | (235,786 | ) | 424,276 | |||||||||||||||||
| Voya Multi-Manager Emerging Markets Equity Fund - Class I | 1,433,411 | 335,408 | (290,351 | ) | (401,693 | ) | 1,076,775 | - | (84,777 | ) | - | |||||||||||||||||
| Voya Multi-Manager International Equity Fund - Class I | 1,832,057 | 289,570 | (1,790,803 | ) | (86,747 | ) | 244,077 | - | (359,985 | ) | - | |||||||||||||||||
| Voya Multi-Manager International Factors Fund - Class I | 3,351,626 | 351,552 | (2,011,292 | ) | (408,156 | ) | 1,283,730 | - | (274,294 | ) | - | |||||||||||||||||
| Voya Multi-Manager Mid Cap Value Fund - Class I | 1,159,655 | 94,590 | (577,368 | ) | (136,914 | ) | 539,963 | - | (44,109 | ) | - | |||||||||||||||||
| Voya Small Company Fund - Class R6 | - | 1,292,592 | (98,614 | ) | (203,037 | ) | 990,941 | - | (5,143 | ) | - | |||||||||||||||||
| Voya U.S. Bond Index Portfolio - Class I | 5,210,873 | 288,808 | (3,477,230 | ) | (334,681 | ) | 1,687,770 | 46,930 | (287,916 | ) | - | |||||||||||||||||
| Voya U.S. High Dividend Low Volatility Fund - Class R6 | 2,669,909 | 1,291,885 | (754,177 | ) | (462,409 | ) | 2,745,208 | 29,792 | (25,741 | ) | - | |||||||||||||||||
| Voya U.S. Stock Index Portfolio - Class I | 14,634,416 | 5,945,618 | (8,981,640 | ) | (3,831,113 | ) | 7,767,281 | 4,478 | 267,378 | 781,949 | ||||||||||||||||||
| VY® BrandywineGLOBAL - Bond Portfolio - Class I | - | 3,117,171 | (499,273 | ) | (362,907 | ) | 2,254,991 | 24,843 | (36,868 | ) | 124,971 | |||||||||||||||||
| VY® T. Rowe Price Growth Equity Portfolio - Class I | 2,951,457 | 1,181,566 | (1,558,656 | ) | (986,785 | ) | 1,587,582 | - | (413,270 | ) | 328,021 | |||||||||||||||||
| $ | 69,800,130 | $ | 33,804,577 | $ | (37,880,935 | ) | $ | (14,135,021 | ) | $ | 51,588,751 | $ | 793,468 | $ | (2,495,298 | ) | $ | 2,747,179 | ||||||||||
The financial statements for the above mutual fund[s] can be found at www.sec.gov.
At September 30, 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 $65,350,900. | ||||
| Net unrealized depreciation consisted of: | ||||
| Gross Unrealized Appreciation | $ | 191,871 | ||
| Gross Unrealized Depreciation | (10,102,314 | ) | ||
| Net Unrealized Depreciation | $ | (9,910,443 | ) | |