PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
98.3%
Argentina
:
0.2%
9,538
Cresud
SACIF
y
A,
ADR
$
128,858
0.1
16,490
IRSA
Inversiones
y
Representaciones
SA,
ADR
286,926
0.1
415,784
0.2
Brazil
:
6.7%
55,345
Ambev
SA
156,063
0.1
213,200
(1)
Ambev
SA,
ADR
592,696
0.2
22,723
Axia
Energia
234,408
0.1
117,001
B3
SA
-
Brasil
Bolsa
Balcao
359,712
0.1
129,988
Banco
Bradesco
SA,
ADR
526,451
0.2
23,608
Banco
Santander
Brasil
SA,
ADR
163,367
0.1
34,335
BB
Seguridade
Participacoes
SA
244,069
0.1
17,359
Cia
de
Saneamento
Basico
do
Estado
de
Sao
Paulo
SABESP
465,542
0.2
32,772
Cia
de
Saneamento
do
Parana
289,314
0.1
8,347
Embraer
SA
153,593
0.1
19,794
Energisa
S/A
191,213
0.1
22,528
Equatorial
Energia
SA
174,907
0.1
63,915
Itau
Unibanco
Holding
SA,
ADR
549,030
0.2
39,317
Klabin
SA
143,664
0.1
37,976
MBRF
Global
Foods
Co.
SA,
ADR
132,916
0.0
1,234
(2)
MercadoLibre,
Inc.
2,650,373
1.1
63,768
Petroleo
Brasileiro
SA
-
Foreign,
ADR
978,201
0.4
222
(2)
PicS
NV
3,996
0.0
15,192
Porto
Seguro
SA
144,739
0.1
14,374
Rumo
SA
40,150
0.0
82,936
Sendas
Distribuidora
S/A
135,528
0.1
49,692
(1)(2)
Sitios
Latinoamerica
SAB
de
CV
15,582
0.0
30,866
Telefonica
Brasil
SA
218,882
0.1
16,891
Telefonica
Brasil
SA,
ADR
239,514
0.1
102,040
TIM
SA/Brazil
474,064
0.2
326,113
Totvs
SA
2,764,315
1.1
18,019
Transmissora
Alianca
de
Energia
Eletrica
SA
143,426
0.1
10,722
Vale
SA,
ADR
172,303
0.1
44,117
Vale
SA
-
Foreign
705,168
0.3
48,924
Vibra
Energia
SA
266,431
0.1
137,754
XP,
Inc.
-
Class
A
2,687,581
1.1
16,017,198
6.7
Chile
:
0.6%
703,888
Banco
de
Chile
155,143
0.1
83,826
Cencosud
SA
280,594
0.1
20,914
Empresas
Copec
SA
178,306
0.1
1,622,763
Enel
Americas
SA
153,227
0.0
1,662,027
Enel
Chile
SA
141,034
0.0
23,955
Falabella
SA
185,975
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Chile
(continued)
6,129
(2)
Sociedad
Quimica
y
Minera
de
Chile
SA,
ADR
$
470,952
0.2
1,565,231
0.6
China
:
15.4%
193,800
Alibaba
Group
Holding
Ltd.
4,122,821
1.7
26,129
Alibaba
Group
Holding
Ltd.,
ADR
4,430,433
1.8
148,000
Aluminum
Corp.
of
China
Ltd.
-
Class
H
258,419
0.1
36,000
Anhui
Conch
Cement
Co.
Ltd.
-
Class
H
114,167
0.0
3,910
(1)(2)
Baidu,
Inc.,
ADR
598,934
0.2
53,500
Beijing
Enterprises
Holdings
Ltd.
242,353
0.1
252,000
Brilliance
China
Automotive
Holdings
Ltd.
130,295
0.1
14,300
BYD
Co.
Ltd.
-
Class
H
178,276
0.1
707,000
(3)
CGN
Power
Co.
Ltd.
-
Class
H
294,802
0.1
192,000
China
Communications
Services
Corp.
Ltd.
-
Class
H
116,604
0.0
178,000
China
Construction
Bank
Corp.
-
Class
H
179,732
0.1
208,000
China
Everbright
Environment
Group
Ltd.
133,829
0.1
136,600
China
Gas
Holdings
Ltd.
135,310
0.1
58,000
China
Hongqiao
Group
Ltd.
265,273
0.1
175,000
China
Life
Insurance
Co.
Ltd.
-
Class
H
778,792
0.3
66,000
China
Merchants
Port
Holdings
Co.
Ltd.
132,832
0.1
243,000
(1)(3)
China
Railway
Signal
&
Communication
Corp.
Ltd.
-
Class
H
113,886
0.0
28,000
China
Resources
Land
Ltd.
109,653
0.0
124,000
(3)
China
Tower
Corp.
Ltd.
-
Class
H
178,408
0.1
92,000
CITIC
Ltd.
147,033
0.1
103,000
(1)
COSCO
Shipping
Holdings
Co.
Ltd.
-
Class
H
180,967
0.1
240,000
CSPC
Pharmaceutical
Group
Ltd.
294,417
0.1
10,872
(2)
DiDi
Global,
Inc.,
ADR
51,207
0.0
38,300
ENN
Energy
Holdings
Ltd.
329,715
0.1
140,000
Geely
Automobile
Holdings
Ltd.
288,189
0.1
174,000
Guangdong
Investment
Ltd.
164,506
0.1
267,277
H
World
Group
Ltd.
1,283,663
0.5
52,000
Haier
Smart
Home
Co.
Ltd.
-
Class
H
171,429
0.1
83,800
Inner
Mongolia
Yitai
Coal
Co.
Ltd.
-
Class
B
167,573
0.1
16,412
(2)
iQIYI,
Inc.,
ADR
34,137
0.0
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
35,661
JD.com,
Inc.
-
Class
A
$
508,549
0.2
124,000
(1)
Jiangsu
Expressway
Co.
Ltd.
-
Class
H
163,490
0.1
52,500
Kingboard
Holdings
Ltd.
212,749
0.1
424,000
Kunlun
Energy
Co.
Ltd.
434,423
0.2
86,500
(2)(3)
Legend
Holdings
Corp.
-
Class
H
95,458
0.0
49,500
Li
Ning
Co.
Ltd.
129,442
0.1
38,900
Midea
Group
Co.
Ltd.
-
Class
H
426,362
0.2
8,100
NetEase,
Inc.
210,034
0.1
4,033
New
Oriental
Education
&
Technology
Group,
Inc.,
ADR
243,513
0.1
7,358
(2)
PDD
Holdings,
Inc.,
ADR
743,526
0.3
830,000
People's
Insurance
Co.
Group
of
China
Ltd.
-
Class
H
721,711
0.3
1,284,000
PetroChina
Co.
Ltd.
-
Class
H
1,525,340
0.6
144,000
PICC
Property
&
Casualty
Co.
Ltd.
-
Class
H
298,108
0.1
133,000
(3)
Qingdao
Port
International
Co.
Ltd.
-
Class
H
127,857
0.1
35,500
(3)
Shandong
Gold
Mining
Co.
Ltd.
-
Class
H
190,776
0.1
116,422
Shenzhen
International
Holdings
Ltd.
134,135
0.1
163,000
Sino
Biopharmaceutical
Ltd.
138,307
0.1
210,000
Sinotrans
Ltd.
-
Class
H
139,333
0.1
6,182
(2)
Sohu.com
Ltd.,
ADR
104,661
0.0
110,251
Tencent
Holdings
Ltd.
8,474,091
3.5
77,956
Tencent
Music
Entertainment
Group,
ADR
1,308,102
0.5
170,000
Tingyi
Cayman
Islands
Holding
Corp.
257,657
0.1
2,100
Trip.com
Group
Ltd.
128,889
0.1
5,984
Trip.com
Group
Ltd.,
ADR
367,238
0.1
296,600
Uni-President
China
Holdings
Ltd.
300,732
0.1
233,000
Want
Want
China
Holdings
Ltd.
140,523
0.1
10,440
Weibo
Corp.
-
Class
A
111,479
0.0
88,000
Weichai
Power
Co.
Ltd.
-
Class
H
298,288
0.1
31,000
(2)(3)
Xiaomi
Corp.
-
Class
B
140,324
0.1
152,900
Yangzijiang
Shipbuilding
Holdings
Ltd.
401,563
0.2
58,866
Yum
China
Holdings,
Inc.
2,926,972
1.2
37,031,287
15.4
Colombia
:
0.1%
20,690
Interconexion
Electrica
SA
ESP
176,293
0.1
Czechia
:
0.1%
3,996
(1)
CEZ
AS
229,770
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Egypt
:
0.2%
154,407
Commercial
International
Bank
Egypt
SAE
$
440,142
0.2
Greece
:
1.0%
9,791
Athens
International
Airport
SA
131,493
0.0
36,956
Eurobank
SA
180,604
0.1
10,067
GEK
Terna
Holding
Real
Estate
Construction
SA
396,255
0.2
9,964
Hellenic
Telecommunications
Organization
SA
186,880
0.1
15,230
Helleniq
Energy
Holdings
SA
163,740
0.1
10,592
Jumbo
SA
314,384
0.1
8,099
Motor
Oil
Hellas
Corinth
Refineries
SA
326,091
0.1
11,384
National
Bank
of
Greece
SA
200,979
0.1
15,196
OPAP
SA
306,215
0.1
11,581
Public
Power
Corp.
SA
273,731
0.1
2,480,372
1.0
Hong
Kong
:
1.3%
281,285
AIA
Group
Ltd.
3,245,321
1.3
Hungary
:
0.8%
58,011
Magyar
Telekom
Telecommunications
PLC
359,871
0.2
56,639
MOL
Hungarian
Oil
&
Gas
PLC
691,729
0.3
4,217
OTP
Bank
Nyrt
530,634
0.2
10,066
Richter
Gedeon
Nyrt
336,907
0.1
1,919,141
0.8
India
:
10.1%
17,588
Aurobindo
Pharma
Ltd.
231,299
0.1
43,295
Bharat
Electronics
Ltd.
211,517
0.1
32,656
Bharat
Petroleum
Corp.
Ltd.
129,466
0.0
7,926
Cipla
Ltd./India
114,229
0.0
33,250
Coal
India
Ltd.
159,496
0.1
280,516
Coforge
Ltd.
2,838,082
1.2
5,334
Coromandel
International
Ltd.
132,551
0.0
1,516
Divi's
Laboratories
Ltd.
99,876
0.0
11,639
Dr
Reddy's
Laboratories
Ltd.
154,003
0.1
2,149
Eicher
Motors
Ltd.
166,550
0.1
13,086
Fortis
Healthcare
Ltd.
121,293
0.0
59,394
GAIL
India
Ltd.
108,196
0.0
33,959
HCL
Technologies
Ltd.
626,633
0.3
4,876
(3)
HDFC
Asset
Management
Co.
Ltd.
133,507
0.1
147,768
HDFC
Bank
Ltd.
1,494,123
0.6
101,727
HDFC
Bank
Ltd.,
ADR
3,293,920
1.4
1,753
Hero
MotoCorp
Ltd.
105,587
0.0
25,911
Hindalco
Industries
Ltd.
269,716
0.1
15,995
Hindustan
Unilever
Ltd.
412,952
0.2
32,938
(2)
Indus
Towers
Ltd.
159,777
0.1
48,516
Infosys
Ltd.
867,771
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
India
(continued)
120,666
Infosys
Ltd.
-
Foreign,
ADR
$
2,121,308
0.9
15,995
(4)
Kwality
Wall’s
India
Ltd.
6,642
0.0
20,307
(2)
MakeMyTrip
Ltd.
1,266,751
0.5
613
Maruti
Suzuki
India
Ltd.
97,386
0.0
3,526
Mphasis
Ltd.
106,044
0.0
49,724
National
Aluminium
Co.
Ltd.
207,193
0.1
2,081
Persistent
Systems
Ltd.
136,832
0.1
302,122
Reliance
Industries
Ltd.
4,590,724
1.9
26,431
Reliance
Strategic
Investments
Ltd.
73,199
0.0
71,566
Tata
Consultancy
Services
Ltd.
2,433,823
1.0
35,658
Tata
Consumer
Products
Ltd.
440,207
0.2
71,325
Tata
Steel
Ltd.
148,881
0.1
15,066
Tech
Mahindra
Ltd.
285,863
0.1
19,160
UPL
Ltd.
146,804
0.1
23,809
Vedanta
Ltd.
176,087
0.1
51,886
Wipro
Ltd.
133,876
0.1
24,202,164
10.1
Indonesia
:
1.8%
1,829,000
Astra
International
Tbk
PT
693,504
0.3
6,321,811
Bank
Central
Asia
Tbk
PT
2,793,289
1.1
1,178,800
Perusahaan
Gas
Negara
Tbk
PT
149,230
0.1
1,546,500
Telkom
Indonesia
Persero
Tbk
PT
330,581
0.1
1,918,900
Unilever
Indonesia
Tbk
PT
220,070
0.1
107,000
United
Tractors
Tbk
PT
166,691
0.1
4,353,365
1.8
Japan
:
1.1%
6,687
Fast
Retailing
Co.
Ltd.
2,551,311
1.1
Kuwait
:
0.1%
106,453
Mobile
Telecommunications
Co.
KSCP
176,786
0.1
40,929
National
Bank
of
Kuwait
SAKP
126,814
0.0
303,600
0.1
Luxembourg
:
0.2%
11,050
Reinet
Investments
SCA
379,840
0.2
Malaysia
:
0.9%
292,400
Axiata
Group
Bhd
170,482
0.1
149,300
Gamuda
Bhd
167,863
0.1
40,500
Petronas
Dagangan
Bhd
217,712
0.1
36,900
Petronas
Gas
Bhd
172,050
0.1
80,200
Press
Metal
Aluminium
Holdings
Bhd
153,738
0.1
673,800
Public
Bank
Bhd
832,813
0.3
76,000
Telekom
Malaysia
Bhd
152,445
0.0
100,000
Tenaga
Nasional
Bhd
353,812
0.1
83,387
UEM
Sunrise
Bhd
13,859
0.0
2,234,774
0.9
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Mexico
:
4.7%
39,453
America
Movil
SAB
de
CV
-
Foreign,
ADR
$
816,677
0.3
17,633
Arca
Continental
SAB
de
CV
198,618
0.1
216,917
Cemex
SAB
de
CV
269,595
0.1
39,267
Cemex
SAB
de
CV
-
Foreign,
ADR
490,052
0.2
20,104
Coca-Cola
Femsa
SAB
de
CV
210,841
0.1
4,372
(1)
Coca-Cola
Femsa
SAB
de
CV
-
Foreign,
ADR
455,956
0.2
22,710
Fomento
Economico
Mexicano
SAB
de
CV
236,989
0.1
21,751
Fomento
Economico
Mexicano
SAB
de
CV
-
Foreign,
ADR
2,269,934
1.0
60,743
Gentera
SAB
de
CV
168,819
0.1
15,814
Grupo
Aeroportuario
del
Centro
Norte
SAB
de
CV
230,912
0.1
10,451
Grupo
Aeroportuario
del
Pacifico
SAB
de
CV
-
Class
B
287,301
0.1
6,872
Grupo
Aeroportuario
del
Sureste
SAB
de
CV
-
Class
B
237,677
0.1
85,610
Grupo
Financiero
Banorte
SAB
de
CV
-
Class
O
965,145
0.4
24,612
Grupo
Mexico
SAB
de
CV
271,569
0.1
50,954
Grupo
Televisa
SAB,
ADR
166,620
0.1
111,148
Kimberly-Clark
de
Mexico
SAB
de
CV
-
Class
A
246,197
0.1
79,690
Megacable
Holdings
SAB
de
CV
279,754
0.1
23,893
(2)
Ollamani
SAB
102,799
0.0
103,478
Prologis
Property
Mexico
SA
de
CV
474,284
0.2
15,191
Promotora
y
Operadora
de
Infraestructura
SAB
de
CV
237,740
0.1
865,405
Wal-Mart
de
Mexico
SAB
de
CV
2,746,359
1.1
11,363,838
4.7
Peru
:
0.6%
18,970
Cia
de
Minas
Buenaventura
SAA,
ADR
649,912
0.3
2,477
Credicorp
Ltd.
883,868
0.3
1,533,780
0.6
Philippines
:
0.2%
23,010
International
Container
Terminal
Services,
Inc.
252,027
0.1
17,790
Manila
Electric
Co.
178,261
0.1
430,288
0.2
Qatar
:
0.5%
39,640
Industries
Qatar
QSC
138,362
0.1
55,938
Ooredoo
QPSC
218,160
0.1
27,873
Qatar
Electricity
&
Water
Co.
QSC
117,126
0.0
60,977
Qatar
Fuel
QSC
259,584
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Qatar
(continued)
19,340
Qatar
Islamic
Bank
SAQ
$
132,825
0.0
70,731
Qatar
Navigation
QSC
219,741
0.1
192,141
Vodafone
Qatar
QSC
134,251
0.1
1,220,049
0.5
Romania
:
0.4%
32,245
Banca
Transilvania
SA
243,186
0.1
25,120
NEPI
Rockcastle
NV
229,558
0.1
1,118,991
OMV
Petrom
SA
264,913
0.1
3,956
Societatea
De
Producere
A
Energiei
Electrice
in
Hidrocentrale
Hidroelectrica
SA
127,021
0.1
864,678
0.4
Russia
:
—%
164,710
(2)(4)
Alrosa
PJSC
—
—
342,800
(4)
Fix
Price
Group
PLC,
GDR
—
—
1,037,141
(2)(4)
Gazprom
PJSC
—
—
25,468
(2)(4)
Lukoil
PJSC
—
—
14,210
(2)(4)
Magnit
PJSC
—
—
271,070
(2)(4)
Magnitogorsk
Iron
&
Steel
Works
PJSC
—
—
117,900
(2)(4)
MMC
Norilsk
Nickel
PJSC
—
—
91,474
(2)(4)
Mobile
TeleSystems
PJSC
—
—
83,570
(2)(4)
Novolipetsk
Steel
PJSC
—
—
4,078
(2)(4)
PhosAgro
PJSC
—
—
453,015
(2)(4)
Rosneft
Oil
Co.
PJSC
—
—
1,076,340
(2)(4)
Sberbank
of
Russia
PJSC
—
—
16,184
(2)(4)
Severstal
PAO
—
—
34,543
(2)(4)
Tatneft
PJSC
—
—
—
—
Saudi
Arabia
:
0.5%
16,053
Etihad
Etisalat
Co.
302,087
0.1
39,572
Jarir
Marketing
Co.
150,545
0.1
5,413
SABIC
Agri-Nutrients
Co.
180,345
0.1
55,400
(3)
Saudi
Arabian
Oil
Co.
380,832
0.1
15,037
Saudi
Telecom
Co.
178,501
0.1
1,192,310
0.5
Singapore
:
2.1%
670,787
(2)
Grab
Holdings
Ltd.
-
Class
A
2,884,384
1.2
17,549
(2)
Sea
Ltd.,
ADR
2,044,283
0.9
355,400
Yangzijiang
Financial
Holding
Ltd.
98,980
0.0
5,027,647
2.1
South
Africa
:
2.5%
2,359
Anglo
American
Platinum
Ltd.
211,952
0.1
6,782
Bid
Corp.
Ltd.
169,741
0.1
6,100
Capitec
Bank
Holdings
Ltd.
1,637,812
0.7
6,592
Clicks
Group
Ltd.
131,330
0.0
23,092
Exxaro
Resources
Ltd.
263,588
0.1
4,497
Gold
Fields
Ltd.
222,398
0.1
7,785
Harmony
Gold
Mining
Co.
Ltd.
165,420
0.1
14,195
MTN
Group
Ltd.
157,629
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
South
Africa
(continued)
2,424
Naspers
Ltd.
-
Class
N
$
148,410
0.1
42,498
OUTsurance
Group
Ltd.
187,868
0.1
77,584
(3)
Pepkor
Holdings
Ltd.
126,770
0.0
327,059
Sanlam
Ltd.
2,044,910
0.8
17,275
Tiger
Brands
Ltd.
359,152
0.1
22,955
Vodacom
Group
Ltd.
213,951
0.1
6,040,931
2.5
South
Korea
:
28.4%
9,243
Cheil
Worldwide,
Inc.
140,773
0.1
1,924
DB
Insurance
Co.
Ltd.
189,956
0.1
3,689
Hana
Financial
Group,
Inc.
256,319
0.1
4,638
HD
Hyundai
Co.
Ltd.
752,691
0.3
1,619
HD
Korea
Shipbuilding
&
Offshore
Engineering
Co.
Ltd.
463,737
0.2
5,562
Hyundai
Engineering
&
Construction
Co.
Ltd.
394,805
0.2
3,068
Hyundai
Glovis
Co.
Ltd.
517,263
0.2
2,462
Hyundai
Mobis
Co.
Ltd.
769,269
0.3
5,475
Hyundai
Steel
Co.
118,825
0.0
2,724
Kakao
Corp.
115,782
0.0
9,101
Kangwon
Land,
Inc.
110,072
0.0
2,193
KB
Financial
Group,
Inc.
205,263
0.1
2,874
(2)
KEPCO
Plant
Service
&
Engineering
Co.
Ltd.
111,410
0.0
5,067
Kia
Corp.
539,145
0.2
16,422
(2)
Korea
Electric
Power
Corp.
662,350
0.3
2,727
KT&G
Corp.
291,570
0.1
3,131
LG
CNS
Co.
Ltd.
151,030
0.1
16,110
(2)
LG
Display
Co.
Ltd.
129,897
0.1
42,753
LG
Uplus
Corp.
475,231
0.2
222
Lotte
Wellfood
Co.
Ltd.
17,890
0.0
19,267
NAVER
Corp.
3,662,305
1.5
677
POSCO
Holdings,
Inc.
162,455
0.1
2,624
S-1
Corp.
145,295
0.1
22,789
Samsung
C&T
Corp.
4,750,471
2.0
3,696
Samsung
Electro-
Mechanics
Co.
Ltd.
710,810
0.3
93,957
Samsung
Electronics
Co.
Ltd.
10,379,879
4.3
12,218
Samsung
Engineering
Co.
Ltd.
260,076
0.1
587
Samsung
Fire
&
Marine
Insurance
Co.
Ltd.
204,312
0.1
8,403
(2)
Samsung
Heavy
Industries
Co.
Ltd.
171,263
0.1
7,933
Samsung
Life
Insurance
Co.
Ltd.
1,032,921
0.4
1,999
Samsung
SDS
Co.
Ltd.
239,705
0.1
2,256
Samsung
Securities
Co.
Ltd.
141,605
0.1
11,502
Shinhan
Financial
Group
Co.
Ltd.
672,220
0.3
30,326
SK
Hynix,
Inc.
18,934,871
7.9
49,161
(2)
SK
Square
Co.
Ltd.
19,244,142
8.0
10,415
SK
Telecom
Co.
Ltd.
524,874
0.2
1,052
SK,
Inc.
242,940
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
South
Korea
(continued)
15,328
Woori
Financial
Group,
Inc.
$
320,645
0.1
68,214,067
28.4
Taiwan
:
13.3%
4,000
Accton
Technology
Corp.
139,853
0.1
9,471
Advantech
Co.
Ltd.
89,380
0.0
33,000
ASE
Technology
Holding
Co.
Ltd.
306,805
0.1
17,000
Asustek
Computer,
Inc.
267,066
0.1
18,000
Catcher
Technology
Co.
Ltd.
114,959
0.0
32,000
Chicony
Electronics
Co.
Ltd.
118,299
0.0
36,000
Chunghwa
Telecom
Co.
Ltd.
152,656
0.1
98,000
CTBC
Financial
Holding
Co.
Ltd.
157,892
0.1
36,000
Delta
Electronics,
Inc.
1,373,845
0.6
5,000
Elite
Material
Co.
Ltd.
271,213
0.1
108,000
Eva
Airways
Corp.
127,833
0.1
500,000
(1)(2)(3)
FIT
Hon
Teng
Ltd.
312,542
0.1
39,000
Hon
Hai
Precision
Industry
Co.
Ltd.
269,584
0.1
32,000
King
Yuan
Electronics
Co.
Ltd.
296,485
0.1
2,000
Largan
Precision
Co.
Ltd.
152,435
0.1
53,000
Lite-On
Technology
Corp.
272,430
0.1
44,000
MediaTek,
Inc.
2,440,704
1.0
15,000
Novatek
Microelectronics
Corp.
177,984
0.1
51,000
Powertech
Technology,
Inc.
403,847
0.2
20,000
Realtek
Semiconductor
Corp.
305,996
0.1
72,000
Synnex
Technology
International
Corp.
149,205
0.1
417,411
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
23,081,132
9.6
198,000
United
Microelectronics
Corp.
393,971
0.2
46,000
WT
Microelectronics
Co.
Ltd.
227,098
0.1
55,000
Zhen
Ding
Technology
Holding
Ltd.
338,944
0.1
31,942,158
13.3
Thailand
:
1.1%
20,000
Advanced
Info
Service
PCL
221,808
0.1
1,223,885
CP
ALL
PCL
-
Foreign
1,687,311
0.7
23,700
Kasikornbank
PCL
141,548
0.1
54,500
PTT
Exploration
&
Production
PCL
213,053
0.1
263,100
PTT
PCL
-
Foreign
284,013
0.1
15,600
Siam
Cement
PCL
-
Foreign
101,858
0.0
2,649,591
1.1
Turkey
:
0.5%
410,765
Akbank
TAS
878,651
0.4
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Turkey
(continued)
10,284
BIM
Birlesik
Magazalar
AS
$
156,941
0.1
16,826
Turk
Hava
Yollari
AO
117,692
0.0
24,637
Turkiye
Petrol
Rafinerileri
AS
138,832
0.0
1,292,116
0.5
United
Arab
Emirates
:
1.4%
24,469
Abu
Dhabi
Islamic
Bank
PJSC
162,282
0.1
116,688
Abu
Dhabi
National
Oil
Co.
for
Distribution
PJSC
130,271
0.0
376,481
Air
Arabia
PJSC
510,946
0.2
88,094
Aldar
Properties
PJSC
230,296
0.1
160,593
Dubai
Investments
PJSC
175,026
0.1
56,650
Dubai
Islamic
Bank
PJSC
149,034
0.1
103,453
Emaar
Development
PJSC
484,518
0.2
332,569
Emaar
Properties
PJSC
1,360,438
0.6
21,635
Emirates
Telecommunications
Group
Co.
PJSC
116,054
0.0
80,062
Salik
Co.
PJSC
139,087
0.0
3,457,952
1.4
United
Kingdom
:
1.2%
42,700
Unilever
PLC,
ADR
2,918,972
1.2
United
States
:
0.3%
1,136
(2)
BeiGene
Ltd.,
ADR
386,671
0.2
4,876
Titan
Cement
International
SA
327,188
0.1
713,859
0.3
Total
Common
Stock
(Cost
$169,312,661)
236,407,829
98.3
EXCHANGE-TRADED
FUNDS
:
0.5%
17,513
iShares
Core
MSCI
Emerging
Markets
ETF
1,270,743
0.5
Total
Exchange-Traded
Funds
(Cost
$1,248,066)
1,270,743
0.5
PREFERRED
STOCK
:
1.1%
Brazil
:
0.6%
5,972
(2)
Axia
Energia
60,177
0.0
121,294
Cia
Energetica
de
Minas
Gerais
264,356
0.1
61,050
Gerdau
SA
259,037
0.1
247,784
Itausa
SA
640,795
0.3
18,660
Petroleo
Brasileiro
SA
133,566
0.1
1,357,931
0.6
Chile
:
0.1%
44,291
Embotelladora
Andina
SA
232,644
0.1
Colombia
:
0.1%
20,079
Grupo
de
Inversiones
Suramericana
SA
284,058
0.1
Russia
:
—%
378
(2)(4)
AK
Transneft
PJSC
OAO
—
—
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
PREFERRED
STOCK:
(continued)
Russia
(continued)
863,754
(2)(4)
Surgutneftegas
PJSC
$
—
—
217
(2)(4)
Transneft
PJSC
—
—
—
—
South
Korea
:
0.3%
3,822
LG
Chem
Ltd.
421,090
0.2
3,059
Samsung
Electronics
Co.
Ltd.
247,782
0.1
668,872
0.3
Total
Preferred
Stock
(Cost
$3,886,762)
2,543,505
1.1
Total
Long-Term
Investments
(Cost
$174,447,489)
240,222,077
99.9
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
2.2%
Repurchase
Agreements
:
1.3%
876,000
(5)
Bank
of
Montreal,
Repurchase
Agreement
dated
01/30/2026,
3.670%,
due
02/02/2026
(Repurchase
Amount
$876,264,
collateralized
by
various
U.S.
Government
Agency
Obligations,
2.000%-
8.000%,
Market
Value
plus
accrued
interest
$893,520,
due
09/20/50-11/20/65)
876,000
0.4
1,000,000
(5)
Citadel
Securities
LLC,
Repurchase
Agreement
dated
01/30/2026,
3.710%,
due
02/02/2026
(Repurchase
Amount
$1,000,305,
collateralized
by
various
U.S.
Government
Securities,
0.000%-4.500%,
Market
Value
plus
accrued
interest
$1,020,315,
due
02/15/26-11/15/55)
1,000,000
0.4
184,780
(5)
HSBC
Securities
(USA)
Inc.,
Repurchase
Agreement
dated
01/30/2026,
3.670%,
due
02/02/2026
(Repurchase
Amount
$184,836,
collateralized
by
various
U.S.
Government
Securities,
3.875%-4.500%,
Market
Value
plus
accrued
interest
$188,476,
due
12/31/31-05/15/43)
184,780
0.1
Principal
Amount†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS:
(continued)
Repurchase
Agreements
(continued)
1,000,000
(5)
State
of
Wisconsin
Investment
Board,
Repurchase
Agreement
dated
01/30/2026,
3.770%,
due
02/02/2026
(Repurchase
Amount
$1,000,310,
collateralized
by
various
U.S.
Government
Securities,
0.125%-3.875%,
Market
Value
plus
accrued
interest
$1,017,491,
due
04/15/28-02/15/55)
$
1,000,000
0.4
Total
Repurchase
Agreements
(Cost
$3,060,780)
3,060,780
1.3
Shares
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
(continued)
Mutual
Funds
:
0.9%
2,101,406
(6)
BlackRock
Liquidity
Funds,
FedFund,
Institutional
Class,
3.570%
2,101,406
0.9
77,000
(6)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
3.610%
77,000
0.0
Total
Mutual
Funds
(Cost
$2,178,406)
2,178,406
0.9
Total
Short-Term
Investments
(Cost
$5,239,186)
5,239,186
2.2
Total
Investments
in
Securities
(Cost
$179,686,675)
$
245,461,263
102.1
Liabilities
in
Excess
of
Other
Assets
(5,036,435)
(2.1)
Net
Assets
$
240,424,828
100.0
ADR
American
Depositary
Receipt
GDR
Global
Depositary
Receipt
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(1)
Security,
or
a
portion
of
the
security,
is
on
loan.
(2)
Non-income
producing
security.
(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,
2026.
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Sector
Diversification
Percentage
of
Net
Assets
Information
Technology
30.1
%
Industrials
14.8
Financials
14.6
Consumer
Discretionary
11.8
Communication
Services
8.9
Consumer
Staples
6.5
Energy
4.9
Materials
3.1
Utilities
2.6
Real
Estate
1.3
Health
Care
0.8
Exchange-Traded
Funds
0.5
Foreign
Stock
0.0
Short-Term
Investments
2.2
Liabilities
in
Excess
of
Other
Assets
(2.1)
Net
Assets
100.0%
Portfolio
holdings
are
subject
to
change
daily.
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
January
31,
2026
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,
2026
Asset
Table
Investments,
at
fair
value
Common
Stock
Argentina
$
415,784
$
—
$
—
$
415,784
Brazil
16,017,198
—
—
16,017,198
Chile
1,565,231
—
—
1,565,231
China
8,173,098
28,858,189
—
37,031,287
Colombia
176,293
—
—
176,293
Czechia
—
229,770
—
229,770
Egypt
—
440,142
—
440,142
Greece
915,832
1,564,540
—
2,480,372
Hong
Kong
—
3,245,321
—
3,245,321
Hungary
336,907
1,582,234
—
1,919,141
India
6,681,979
17,513,543
6,642
24,202,164
Indonesia
220,070
4,133,295
—
4,353,365
Japan
—
2,551,311
—
2,551,311
Kuwait
176,786
126,814
—
303,600
Luxembourg
379,840
—
—
379,840
Malaysia
172,050
2,062,724
—
2,234,774
Mexico
11,363,838
—
—
11,363,838
Peru
1,533,780
—
—
1,533,780
Philippines
178,261
252,027
—
430,288
Qatar
729,121
490,928
—
1,220,049
Romania
356,579
508,099
—
864,678
Russia
—
—
—
—
Saudi
Arabia
—
1,192,310
—
1,192,310
Singapore
4,928,667
98,980
—
5,027,647
South
Africa
2,880,058
3,160,873
—
6,040,931
South
Korea
971,113
67,242,954
—
68,214,067
Taiwan
—
31,942,158
—
31,942,158
Thailand
—
2,649,591
—
2,649,591
Turkey
—
1,292,116
—
1,292,116
United
Arab
Emirates
869,930
2,588,022
—
3,457,952
United
Kingdom
2,918,972
—
—
2,918,972
United
States
386,671
327,188
—
713,859
Total
Common
Stock
62,348,058
174,053,129
6,642
236,407,829
Exchange-Traded
Funds
1,270,743
—
—
1,270,743
Preferred
Stock
1,874,633
668,872
—
2,543,505
Short-Term
Investments
2,178,406
3,060,780
—
5,239,186
Total
Investments,
at
fair
value
$
67,671,840
$
177,782,781
$
6,642
$
245,461,263
Other
Financial
Instruments+
Futures
49,263
—
—
49,263
Total
Assets
$
67,721,103
$
177,782,781
$
6,642
$
245,510,526
#
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.
+
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.
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2026
(Unaudited)
(continued)
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
At
January
31,
2026,
the
following
futures
contracts
were
outstanding
for
Voya
Multi-Manager
Emerging
Markets
Equity
Fund:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Appreciation
Long
Contracts:
MSCI
Emerging
Markets
Index
9
03/20/26
$
684,360
$
49,263
$
684,360
$
49,263
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
91,078,055
Gross
Unrealized
Depreciation
(25,303,467)
Net
Unrealized
Appreciation
$
65,774,588