PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
Voya
Infrastructure,
Industrials
and
Materials
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
96
.8
%
Australia
:
2
.5
%
4,226
Anglogold
Ashanti
PLC
$
360,321
0
.2
21,698
BHP
Group
Ltd.
-
Class
DI
593,721
0
.3
13,428
BlueScope
Steel
Ltd.
213,899
0
.1
41,149
Fortescue
Metals
Group
Ltd.
578,332
0
.3
5,288
Rio
Tinto
Ltd.
458,716
0
.2
362,468
South32
Ltd.
-
Class
DI
768,050
0
.4
362,081
Telstra
Group
Ltd.
1,167,502
0
.6
70,335
Transurban
Group
687,861
0
.4
4,828,402
2
.5
Brazil
:
0
.9
%
158,200
TIM
SA/Brazil
743,306
0
.4
8,872
Wheaton
Precious
Metals
Corp.
974,336
0
.5
1,717,642
0
.9
Canada
:
5
.7
%
8,789
Agnico
Eagle
Mines
Ltd.
1,533,272
0
.8
38,725
Barrick
Mining
Corp.
1,619,165
0
.8
1,372
(1)
Bombardier,
Inc.
-
Class
B
227,863
0
.1
1,946
Canadian
National
Railway
Co.
186,363
0
.1
5,690
Canadian
Pacific
Kansas
City
Ltd.
412,178
0
.2
22,162
CCL
Industries,
Inc.
-
Class
B
1,355,142
0
.7
886
(1)
Celestica,
Inc.
304,396
0
.2
6,460
Keyera
Corp.
208,715
0
.1
36,226
Kinross
Gold
Corp.
1,020,845
0
.5
2,803
Lundin
Gold,
Inc.
236,223
0
.1
11,321
Pan
American
Silver
Corp.
513,129
0
.3
9,012
Stantec,
Inc.
866,666
0
.5
11,877
TC
Energy
Corp.
641,678
0
.3
12,415
Teck
Resources
Ltd.
-
Class
B
528,511
0
.3
7,401
WSP
Global,
Inc.
1,294,626
0
.7
10,948,772
5
.7
Chile
:
0
.6
%
3,593,397
Enel
Chile
SA
278,744
0
.1
48,665
Lundin
Mining
Corp.
909,258
0
.5
1,188,002
0
.6
China
:
4
.0
%
72,000
Beijing
Enterprises
Holdings
Ltd.
315,155
0
.2
85,800
(2)
BOC
Aviation
Ltd.
782,884
0
.4
41,500
BYD
Electronic
International
Co.
Ltd.
177,725
0
.1
674,000
China
Communications
Services
Corp.
Ltd.
-
Class
H
422,261
0
.2
280,900
(2)
China
Tower
Corp.
Ltd.
-
Class
H
444,701
0
.2
96,000
CMOC
Group
Ltd.
-
Class
H
200,375
0
.1
3,900
Contemporary
Amperex
Technology
Co.
Ltd.
-
Class
H
238,233
0
.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
627,500
Fosun
International
Ltd.
$
392,328
0
.2
212,000
Guangdong
Investment
Ltd.
203,876
0
.1
608,000
Kunlun
Energy
Co.
Ltd.
580,730
0
.3
160,800
NARI
Technology
Co.
Ltd.
-
Class
A
504,838
0
.3
74,600
Sany
Heavy
Industry
Co.
Ltd.
-
Class
A
214,651
0
.1
938,900
Shandong
Nanshan
Aluminum
Co.
Ltd.
-
Class
A
626,586
0
.3
246,600
Xiamen
C
&
D,
Inc.
-
Class
A
346,600
0
.2
138,100
Yangzijiang
Shipbuilding
Holdings
Ltd.
357,755
0
.2
37,500
Yealink
Network
Technology
Corp.
Ltd.
-
Class
A
179,470
0
.1
103,100
Yintai
Gold
Co.
Ltd.
-
Class
A
310,289
0
.2
68,400
Zhejiang
Chint
Electrics
Co.
Ltd.
-
Class
A
272,223
0
.1
435,900
Zhejiang
Longsheng
Group
Co.
Ltd.
-
Class
A
645,679
0
.3
37,500
Zhuzhou
CRRC
Times
Electric
Co.
Ltd.
-
Class
H
186,155
0
.1
100,000
Zijin
Mining
Group
Co.
Ltd.
-
Class
H
397,658
0
.2
7,800,172
4
.0
Finland
:
0
.5
%
31,972
Wartsila
Oyj
Abp
1,037,769
0
.5
France
:
4
.6
%
5,474
Aeroports
de
Paris
802,830
0
.4
1,754
Air
Liquide
SA
336,150
0
.2
1,554
Airbus
SE
365,488
0
.2
3,175
Arkema
SA
193,537
0
.1
3,301
Cie
de
Saint-Gobain
329,462
0
.1
8,096
Eiffage
SA
1,118,686
0
.6
59,489
Engie
SA
1,513,773
0
.8
55,760
Getlink
SE
1,008,575
0
.5
19,114
Rexel
SA
728,452
0
.4
6,240
Safran
SA
2,097,647
1
.1
958
Thales
SA
250,895
0
.1
5,560
Veolia
Environnement
SA
189,220
0
.1
8,934,715
4
.6
Germany
:
4
.1
%
20,280
Daimler
Truck
Holding
AG
858,452
0
.5
68,087
Deutsche
Telekom
AG,
Reg
2,195,653
1
.1
90
Rheinmetall
AG
153,935
0
.1
10,716
RWE
AG
544,269
0
.3
11,678
Siemens
AG,
Reg
3,097,046
1
.6
7,744
(1)
Siemens
Energy
AG
1,036,938
0
.5
7,886,293
4
.1
Greece
:
0
.4
%
36,853
Public
Power
Corp.
SA
744,972
0
.4
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Voya
Infrastructure,
Industrials
and
Materials
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Hong
Kong
:
0
.6
%
77,000
Power
Assets
Holdings
Ltd.
$
515,175
0
.3
73,000
Swire
Pacific
Ltd.
-
Class
A
626,739
0
.3
1,141,914
0
.6
India
:
2
.2
%
3,150
ABB
India
Ltd.
182,589
0
.1
184,384
Bharat
Electronics
Ltd.
852,344
0
.4
13,482
Coromandel
International
Ltd.
360,006
0
.2
4,546
Cummins
India
Ltd.
228,228
0
.1
224,891
GAIL
India
Ltd.
444,440
0
.2
14,037
Hindustan
Aeronautics
Ltd.
714,781
0
.4
10,984
Pidilite
Industries
Ltd.
180,731
0
.1
144,755
Power
Grid
Corp.
of
India
Ltd.
438,122
0
.2
2,132
Solar
Industries
India
Ltd.
317,074
0
.2
45,888
UPL
Ltd.
390,511
0
.2
32,410
Vedanta
Ltd.
191,273
0
.1
4,300,099
2
.2
Israel
:
0
.1
%
427
Elbit
Systems
Ltd.
200,332
0
.1
Italy
:
0
.8
%
62,794
Enel
SpA
648,914
0
.3
6,917
Leonardo
SpA
379,118
0
.2
1,026,671
(1)
Telecom
Italia
SpA/Milano
578,828
0
.3
1,606,860
0
.8
Japan
:
8
.0
%
107,000
Asahi
Kasei
Corp.
893,702
0
.5
53,400
Central
Japan
Railway
Co.
1,459,267
0
.7
53,000
Chubu
Electric
Power
Co.,
Inc.
828,370
0
.4
19,500
FANUC
Corp.
625,014
0
.3
34,400
Hitachi
Ltd.
1,095,500
0
.6
37,900
Japan
Airlines
Co.
Ltd.
706,856
0
.4
53,100
JFE
Holdings,
Inc.
651,440
0
.3
4,700
Keyence
Corp.
1,599,925
0
.8
7,500
Komatsu
Ltd.
246,370
0
.1
18,700
Makita
Corp.
543,712
0
.3
159,500
Mitsubishi
Chemical
Group
Corp.
900,975
0
.5
13,400
Mitsubishi
Heavy
Industries
Ltd.
339,411
0
.2
45,100
Nitto
Denko
Corp.
1,116,015
0
.6
22,500
Obayashi
Corp.
458,728
0
.2
24,500
Shin-Etsu
Chemical
Co.
Ltd.
733,621
0
.4
7,100
SoftBank
Group
Corp.
763,683
0
.4
46,700
Sumitomo
Corp.
1,466,931
0
.7
17,600
Tokyo
Metro
Co.
Ltd.
180,983
0
.1
28,800
Yokogawa
Electric
Corp.
921,146
0
.5
15,531,649
8
.0
Netherlands
:
0
.6
%
263,097
Koninklijke
KPN
NV
1,205,371
0
.6
Qatar
:
0
.3
%
49,642
Ooredoo
QPSC
173,999
0
.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Qatar
(continued)
99,823
Qatar
Electricity
&
Water
Co.
QSC
$
406,311
0
.2
580,310
0
.3
Russia
:
—
%
267,141
(1)(3)
Alrosa
PJSC
—
—
4,101,092
(1)(3)
Inter
RAO
UES
PJSC
—
—
124,960
(1)(3)
Mobile
TeleSystems
PJSC
—
—
—
—
Saudi
Arabia
:
0
.1
%
10,994
Etihad
Etisalat
Co.
184,318
0
.1
Singapore
:
0
.2
%
31,348
(1)
Grab
Holdings
Ltd.
-
Class
A
170,847
0
.1
38,100
Singapore
Technologies
Engineering
Ltd.
244,553
0
.1
415,400
0
.2
South
Africa
:
0
.5
%
13,927
Gold
Fields
Ltd.
588,854
0
.3
21,354
Harmony
Gold
Mining
Co.
Ltd.
417,403
0
.2
1,006,257
0
.5
South
Korea
:
1
.2
%
399
HD
Hyundai
Electric
Co.
Ltd.
211,377
0
.1
684
HD
Hyundai
Heavy
Industries
Co.
Ltd.
249,570
0
.1
1,954
HD
Korea
Shipbuilding
&
Offshore
Engineering
Co.
Ltd.
545,822
0
.3
10,386
Korea
Electric
Power
Corp.
373,486
0
.2
68,924
LG
Uplus
Corp.
705,807
0
.4
1,482
POSCO
Holdings,
Inc.
312,741
0
.1
2,398,803
1
.2
Spain
:
1
.4
%
12,328
ACS
Actividades
de
Construccion
y
Servicios
SA
1,141,004
0
.6
49,336
(2)
Aena
SME
SA
1,343,661
0
.7
9,509
Iberdrola
SA
200,714
0
.1
2,685,379
1
.4
Sweden
:
2
.3
%
11,002
Atlas
Copco
AB
-
Class
A
186,969
0
.1
4,320
(1)
Boliden
AB
207,298
0
.1
22,728
Skanska
AB
-
Class
B
583,715
0
.3
46,732
SKF
AB
-
Class
B
1,225,674
0
.6
43,612
Tele2
AB
-
Class
B
694,850
0
.4
91,872
Telefonaktiebolaget
LM
Ericsson
-
Class
B
886,525
0
.5
20,113
Volvo
AB
-
Class
B
603,302
0
.3
4,388,333
2
.3
Switzerland
:
2
.3
%
32,131
ABB
Ltd.,
Reg
2,312,269
1
.2
2,852
BKW
AG
595,611
0
.3
8,627
DSM-Firmenich
AG
709,596
0
.4
17,843
SIG
Group
AG
216,462
0
.1
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Voya
Infrastructure,
Industrials
and
Materials
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Switzerland
(continued)
2,949
Sika
AG,
Reg
$
582,020
0
.3
4,415,958
2
.3
Taiwan
:
1
.7
%
8,000
Accton
Technology
Corp.
262,094
0
.1
32,000
Delta
Electronics,
Inc.
953,935
0
.5
415,000
Far
Eastern
New
Century
Corp.
373,226
0
.2
113,000
Hon
Hai
Precision
Industry
Co.
Ltd.
814,271
0
.4
237,000
WPG
Holdings
Ltd.
516,579
0
.3
93,000
Zhen
Ding
Technology
Holding
Ltd.
432,298
0
.2
3,352,403
1
.7
Thailand
:
0
.2
%
22,900
Advanced
Info
Service
PCL
218,882
0
.1
40,400
Delta
Electronics
Thailand
PCL
254,382
0
.1
473,264
0
.2
United
Arab
Emirates
:
0
.2
%
495,336
Dubai
Electricity
&
Water
Authority
PJSC
368,293
0
.2
United
Kingdom
:
3
.9
%
70,889
BAE
Systems
PLC
1,543,854
0
.8
143,500
CK
Hutchison
Holdings
Ltd.
1,012,297
0
.5
9,278
DCC
PLC
613,919
0
.3
12,200
National
Grid
PLC
185,367
0
.1
154,643
Rolls-Royce
Holdings
PLC
2,182,668
1
.1
44,441
Smiths
Group
PLC
1,438,682
0
.8
504,532
Vodafone
Group
PLC
628,313
0
.3
7,605,100
3
.9
United
States
:
46
.6
%
7,912
AECOM
815,965
0
.4
15,845
AMERCO
762,303
0
.4
7,090
Ameren
Corp.
754,021
0
.4
8,824
AMETEK,
Inc.
1,746,181
0
.9
4,848
Amphenol
Corp.
-
Class
A
683,083
0
.4
14,909
(1)
Arista
Networks,
Inc.
1,948,308
1
.0
51,089
AT&T,
Inc.
1,329,336
0
.7
441
(1)
Axon
Enterprise,
Inc.
238,202
0
.1
18,133
Baker
Hughes
Co.
910,277
0
.5
3,646
(1)
Boeing
Co.
689,094
0
.4
572
Carlisle
Cos.,
Inc.
181,936
0
.1
2,763
Caterpillar,
Inc.
1,590,825
0
.8
44,038
Cisco
Systems,
Inc.
3,388,284
1
.7
37,697
CNH
Industrial
NV
355,483
0
.2
2,178
Constellation
Energy
Corp.
793,576
0
.4
13,543
Corteva,
Inc.
913,746
0
.5
5,227
CSX
Corp.
184,827
0
.1
387
Deere
&
Co.
179,758
0
.1
12,009
Delta
Air
Lines,
Inc.
769,777
0
.4
5,748
Dominion
Energy,
Inc.
360,802
0
.2
8,366
Duke
Energy
Corp.
1,036,882
0
.5
14,607
DuPont
de
Nemours,
Inc.
580,920
0
.3
5,198
Eaton
Corp.
PLC
1,797,936
0
.9
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
United
States
(continued)
5,174
Ecolab,
Inc.
$
1,423,678
0
.7
22,586
Edison
International
1,330,089
0
.7
1,201
EMCOR
Group,
Inc.
738,699
0
.4
13,244
Emerson
Electric
Co.
1,766,485
0
.9
11,828
Entergy
Corp.
1,153,467
0
.6
11,341
Evergy,
Inc.
880,629
0
.5
14,295
Eversource
Energy
960,338
0
.5
26,320
Exelon
Corp.
1,240,198
0
.6
4,791
(1)
F5,
Inc.
1,145,816
0
.6
3,576
FedEx
Corp.
985,832
0
.5
28,912
Fortive
Corp.
1,546,214
0
.8
24,596
Freeport-McMoRan,
Inc.
1,057,136
0
.5
10,997
GE
Aerospace
3,282,055
1
.7
2,672
GE
Vernova,
Inc.
1,602,585
0
.8
16,544
Graco,
Inc.
1,363,887
0
.7
17,977
Halliburton
Co.
471,357
0
.2
1,809
HEICO
Corp.
573,290
0
.3
12,760
(1)
Holcim
AG
1,197,017
0
.6
6,141
Honeywell
International,
Inc.
1,180,239
0
.6
3,518
Howmet
Aerospace,
Inc.
719,748
0
.4
636
Hubbell,
Inc.
274,389
0
.1
1,782
IDEX
Corp.
309,943
0
.2
19,781
Ingersoll
Rand,
Inc.
1,589,205
0
.8
16,923
Johnson
Controls
International
PLC
1,968,314
1
.0
5,878
(1)
Keysight
Technologies,
Inc.
1,163,550
0
.6
32,458
Kinder
Morgan,
Inc.
886,753
0
.5
2,351
Linde
PLC
US
964,662
0
.5
11,970
Newmont
Corp.
1,086,038
0
.6
21,802
NextEra
Energy,
Inc.
1,881,295
1
.0
34,697
NiSource,
Inc.
1,531,179
0
.8
1,645
Nordson
Corp.
390,951
0
.2
1,784
NRG
Energy,
Inc.
302,370
0
.2
19,130
ONEOK,
Inc.
1,393,047
0
.7
2,605
Parker-Hannifin
Corp.
2,244,728
1
.2
11,846
Pentair
PLC
1,246,673
0
.6
84,941
PG&E
Corp.
1,369,249
0
.7
4,509
PPG
Industries,
Inc.
451,080
0
.2
8,790
Raytheon
Technologies
Corp.
1,537,459
0
.8
3,283
(1)
Rocket
Lab
Corp.
138,346
0
.1
2,234
Rockwell
Automation,
Inc.
884,351
0
.5
9,091
RPM
International,
Inc.
975,010
0
.5
22,163
Schlumberger
NV
803,187
0
.4
7,269
Schneider
Electric
SE
1,956,127
1
.0
11,213
Smurfit
WestRock
PLC
400,192
0
.2
2,145
Snap-on,
Inc.
729,407
0
.4
2,082
Targa
Resources
Corp.
364,995
0
.2
16,459
Textron,
Inc.
1,368,730
0
.7
5,771
T-Mobile
US,
Inc.
1,206,197
0
.6
2,750
Trane
Technologies
PLC
1,159,070
0
.6
211
TransDigm
Group,
Inc.
286,996
0
.1
10,445
(1)
Trimble,
Inc.
850,432
0
.4
28,320
(1)
Uber
Technologies,
Inc.
2,479,133
1
.3
8,332
Union
Pacific
Corp.
1,931,607
1
.0
5,837
(1)
United
Airlines
Holdings,
Inc.
595,140
0
.3
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Voya
Infrastructure,
Industrials
and
Materials
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
United
States
(continued)
54,289
Verizon
Communications,
Inc.
$
2,231,821
1
.1
6,150
Vertiv
Holdings
Co.
-
Class
A
1,105,339
0
.6
4,353
Vistra
Corp.
778,578
0
.4
6,094
Westinghouse
Air
Brake
Technologies
Corp.
1,270,904
0
.7
23,069
Williams
Cos.,
Inc.
1,405,594
0
.7
2,277
Xcel
Energy,
Inc.
186,964
0
.1
90,329,286
46
.6
Zambia
:
0
.3
%
23,094
(1)
First
Quantum
Minerals
Ltd.
526,182
0
.3
Total
Common
Stock
(Cost
$140,615,181)
187,802,250
96
.8
EXCHANGE-TRADED
FUNDS
:
1
.6
%
21,361
iShares
MSCI
ACWI
ETF
3,021,940
1
.6
Total
Exchange-Traded
Funds
(Cost
$2,644,149)
3,021,940
1
.6
PREFERRED
STOCK
:
0
.6
%
Brazil
:
0
.6
%
97,900
Axia
Energia
1,234,147
0
.6
Total
Preferred
Stock
(Cost
$755,921)
1,234,147
0
.6
Total
Long-Term
Investments
(Cost
$144,015,251)
192,058,337
99
.0
SHORT-TERM
INVESTMENTS
:
0
.4
%
Mutual
Funds
:
0
.4
%
719,000
(4)
BlackRock
Liquidity
Funds,
FedFund,
Institutional
Class,
3.880%
(Cost
$719,000)
$
719,000
0
.4
Total
Short-Term
Investments
(Cost
$719,000)
719,000
0
.4
Total
Investments
in
Securities
(Cost
$144,734,251)
$
192,777,337
99
.4
Assets
in
Excess
of
Other
Liabilities
1,127,887
0
.6
Net
Assets
$
193,905,224
100
.0
(1)
Non-income
producing
security.
(2)
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.
(3)
For
fair
value
measurement
disclosure
purposes,
security
is
categorized
as
Level
3,
whose
value
was
determined
using
significant
unobservable
inputs.
(4)
Rate
shown
is
the
7-day
yield
as
of
November
30,
2025.
Sector
Diversification
Percentage
of
Net
Assets
Industrials
48
.0
%
Materials
16
.9
Utilities
12
.9
Information
Technology
8
.5
Communication
Services
7
.5
Energy
3
.6
Exchange-Traded
Funds
1
.6
Short-Term
Investments
0
.4
Assets
in
Excess
of
Other
Liabilities
0
.6
Net
Assets
100
.0
%
Portfolio
holdings
are
subject
to
change
daily.
PORTFOLIO
OF
INVESTMENTS
as
of
November
30,
2025
(Unaudited)
(continued)
Voya
Infrastructure,
Industrials
and
Materials
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
November
30,
2025
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
November
30,
2025
Asset
Table
Investments,
at
fair
value
Common
Stock
Australia
$
—
$
4,828,402
$
—
$
4,828,402
Brazil
1,717,642
—
—
1,717,642
Canada
10,948,772
—
—
10,948,772
Chile
1,188,002
—
—
1,188,002
China
346,600
7,453,572
—
7,800,172
Finland
—
1,037,769
—
1,037,769
France
—
8,934,715
—
8,934,715
Germany
—
7,886,293
—
7,886,293
Greece
—
744,972
—
744,972
Hong
Kong
—
1,141,914
—
1,141,914
India
—
4,300,099
—
4,300,099
Israel
—
200,332
—
200,332
Italy
—
1,606,860
—
1,606,860
Japan
—
15,531,649
—
15,531,649
Netherlands
—
1,205,371
—
1,205,371
Qatar
406,311
173,999
—
580,310
Russia
—
—
—
—
Saudi
Arabia
—
184,318
—
184,318
Singapore
170,847
244,553
—
415,400
South
Africa
—
1,006,257
—
1,006,257
South
Korea
705,807
1,692,996
—
2,398,803
Spain
—
2,685,379
—
2,685,379
Sweden
—
4,388,333
—
4,388,333
Switzerland
—
4,415,958
—
4,415,958
Taiwan
—
3,352,403
—
3,352,403
Thailand
—
473,264
—
473,264
United
Arab
Emirates
—
368,293
—
368,293
United
Kingdom
—
7,605,100
—
7,605,100
United
States
87,176,142
3,153,144
—
90,329,286
Zambia
526,182
—
—
526,182
Total
Common
Stock
103,186,305
84,615,945
—
187,802,250
Exchange-Traded
Funds
3,021,940
—
—
3,021,940
Preferred
Stock
1,234,147
—
—
1,234,147
Short-Term
Investments
719,000
—
—
719,000
Total
Investments,
at
fair
value
$
108,161,392
$
84,615,945
$
—
$
192,777,337
Liabilities
Table
Other
Financial
Instruments+
Written
Options
$
—
$
(
776,776
)
$
—
$
(
776,776
)
Total
Liabilities
$
—
$
(
776,776
)
$
—
$
(
776,776
)
#
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
November
30,
2025
(Unaudited)
(continued)
Voya
Infrastructure,
Industrials
and
Materials
Fund
At
November
30,
2025,
the
following
OTC
written
equity
options
were
outstanding
for
Voya
Infrastructure,
Industrials
and
Materials
Fund:
Description
Counterparty
Put/
Call
Expiration
Date
Exercise
Price
Number
of
Contracts
Notional
Amount
Premiums
Received
Fair
Value
iShares
MSCI
EAFE
ETF
UBS
AG
Call
12/18/25
USD
92.840
269,619
USD
25,665,033
$
111,191
$
(
497,455
)
iShares
MSCI
Emerging
Markets
ETF
Citibank
N.A.
Call
12/18/25
USD
53.640
160,045
USD
8,693,644
94,346
(
125,060
)
State
Street
Industrial
Select
Sector
SPDR
ETF
UBS
AG
Call
12/04/25
USD
157.400
172,603
USD
26,527,355
371,131
(
22,073
)
State
Street
Materials
Select
Sector
SPDR
ETF
UBS
AG
Call
12/04/25
USD
88.110
80,074
USD
7,158,616
93,839
(
132,188
)
$
670,507
$
(
776,776
)
Currency
Abbreviations:
USD
—
United
States
Dollar
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
52,646,327
Gross
Unrealized
Depreciation
(
4,603,241
)
Net
Unrealized
Appreciation
$
48,043,086