PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
1
Voya
VACS
Series
HYB
Fund
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES
:
88.1%
Basic
Materials
:
4.9%
600,000 
(1)
Axalta
Coating
Systems
Dutch
Holding
B
BV,
7.250%,
02/15/2031
$
624,011
0.2
615,000 
(1)
Axalta
Coating
Systems
LLC,
3.375%,
02/15/2029
588,761
0.2
1,000,000 
(1)
Bond
US
Bidco
1,
Inc./Bidco
2/Bidco
3/
German
Bidco
1
GmbH/
German
Bidco
2,
7.125%,
06/15/2033
1,010,327
0.4
835,000 
(1)
Capstone
Copper
Corp.,
6.750%,
03/31/2033
846,868
0.3
2,375,000 
Celanese
US
Holdings
LLC,
6.750%,
04/15/2033
2,420,672
0.8
507,000 
(1)
Chemours
Co.,
5.750%,
11/15/2028
508,408
0.2
780,000 
(1)
Chemours
Co.,
7.875%,
03/15/2034
784,497
0.3
1,430,000 
(1)
Cleveland-Cliffs,
Inc.,
4.625%,
03/01/2029
1,381,146
0.5
960,000 
(1)
Cleveland-Cliffs,
Inc.,
7.625%,
01/15/2034
959,429
0.3
1,100,000 
(1)
Coeur
Mining,
Inc.,
6.875%,
04/01/2032
1,126,404
0.4
550,000 
(1)
Commercial
Metals
Co.,
5.750%,
11/15/2033
547,051
0.2
720,000 
(1)
Commercial
Metals
Co.,
6.000%,
12/15/2035
718,521
0.2
1,250,000 
(1)
Constellium
SE,
5.625%,
06/15/2028
1,250,557
0.4
680,000 
(1)
Novelis
Corp.,
3.875%,
08/15/2031
619,778
0.2
395,000 
(1)
Novelis
Corp.,
4.750%,
01/30/2030
382,123
0.1
610,000 
Olin
Corp.,
5.000%,
02/01/2030
591,715
0.2
14,360,268
4.9
Communications
:
11.8%
195,000 
(1)
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
4.250%,
01/15/2034
165,264
0.1
2,075,000 
(1)
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
4.500%,
08/15/2030
1,930,182
0.7
1,795,000 
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
4.500%,
05/01/2032
1,585,917
0.5
1,635,000 
(1)
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
5.000%,
02/01/2028
1,615,359
0.6
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Communications:
(continued)
165,000 
(1)
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
5.125%,
05/01/2027
$
164,751
0.1
1,040,000 
(1)
Cipher
Compute
LLC,
7.125%,
11/15/2030
1,082,403
0.4
2,020,000 
(1)
Directv
Financing
LLC,
8.875%,
02/01/2030
2,058,366
0.7
82,000 
(1)
Directv
Financing
LLC
/
Directv
Financing
Co-
Obligor,
Inc.,
5.875%,
08/15/2027
81,930
0.0
2,665,000 
Discovery
Global
Holdings,
Inc.,
4.279%,
03/15/2032
2,393,090
0.8
755,000 
(1)
GCI
LLC,
4.750%,
10/15/2028
720,066
0.2
1,140,000 
(1)
Gen
Digital,
Inc.,
6.250%,
04/01/2033
1,124,381
0.4
825,000 
(1)
Gray
Media,
Inc.,
9.625%,
07/15/2032
796,975
0.3
880,000 
Lamar
Media
Corp.,
4.000%,
02/15/2030
841,843
0.3
2,020,000 
(1)
Level
3
Financing,
Inc.,
6.875%,
06/30/2033
2,076,671
0.7
355,000 
(1)
Level
3
Financing,
Inc.,
7.500%,
02/15/2037
364,684
0.1
1,515,000 
(1)
Match
Group
Holdings
II
LLC,
4.625%,
06/01/2028
1,495,254
0.5
1,025,000 
(1)
McGraw-Hill
Education,
Inc.,
5.750%,
08/01/2028
1,021,402
0.4
1,140,000 
(1)
Meridian
Arc
Holdco
LLC,
6.250%,
04/30/2031
1,143,300
0.4
895,000 
(1)
Nexstar
Media,
Inc.,
4.750%,
11/01/2028
877,223
0.3
1,075,000 
(1)
Outfront
Media
Capital
LLC
/
Outfront
Media
Capital
Corp.,
6.000%,
06/15/2034
1,073,586
0.4
1,085,000 
(2)
Paramount
Global,
6.875%,
04/30/2036
1,018,267
0.3
790,000 
Paramount
Global,
7.875%,
07/30/2030
829,918
0.3
1,245,000 
(1)
Sirius
XM
Radio
LLC,
5.875%,
04/15/2032
1,231,185
0.4
1,313,000 
(1)
Sirius
XM
Radio,
Inc.,
5.000%,
08/01/2027
1,311,908
0.4
1,205,000 
(1)
Snap,
Inc.,
6.875%,
03/15/2034
1,167,516
0.4
995,000 
(1)
Stagwell
Global
LLC,
5.625%,
08/15/2029
960,414
0.3
830,000 
(1)
SV
RNO
Property
Owner
1
LLC,
5.875%,
03/01/2031
818,561
0.3
950,000 
(1)
Versant
Media
Group,
Inc.,
7.250%,
01/30/2031
983,435
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
2
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Communications:
(continued)
580,000 
(1)
Viavi
Solutions,
Inc.,
3.750%,
10/01/2029
$
553,599
0.2
400,000 
(1)
Vmed
O2
UK
Financing
I
PLC,
4.750%,
07/15/2031
329,038
0.1
1,000,000 
(1)
Vmed
O2
UK
Financing
I
PLC,
6.750%,
01/15/2033
847,631
0.3
1,595,000 
(1)
WULF
Compute
LLC,
7.750%,
10/15/2030
1,676,286
0.6
34,340,405
11.8
Consumer,
Cyclical
:
15.7%
905,000 
(1)
Acushnet
Co.,
5.625%,
12/01/2033
902,472
0.3
1,000,000 
(1)
ADI
Escrow
Issuer
LLC,
7.125%,
07/15/2034
1,020,794
0.3
1,060,000 
(1)
Adient
Global
Holdings
Ltd.,
7.500%,
02/15/2033
1,094,097
0.4
460,000 
(1)
Adient
Global
Holdings
Ltd.,
8.250%,
04/15/2031
481,156
0.2
720,000 
(1)
Advance
Auto
Parts,
Inc.,
7.000%,
08/01/2030
738,693
0.3
580,000 
(1)
Advance
Auto
Parts,
Inc.,
7.375%,
08/01/2033
601,538
0.2
570,000 
(1)
Allison
Transmission,
Inc.,
5.875%,
06/01/2029
574,681
0.2
560,000 
(1)
Allison
Transmission,
Inc.,
5.875%,
12/01/2033
558,536
0.2
860,000 
(1)
American
Airlines,
Inc.,
7.250%,
02/15/2028
871,202
0.3
1,530,000 
(1)
American
Axle
&
Manufacturing,
Inc.,
7.750%,
10/15/2033
1,512,469
0.5
1,460,000 
Bath
&
Body
Works,
Inc.,
6.750%,
07/01/2036
1,463,952
0.5
905,000 
(1)
Caesars
Entertainment,
Inc.,
4.625%,
10/15/2029
870,341
0.3
1,425,000 
(1)
Caesars
Entertainment,
Inc.,
7.000%,
02/15/2030
1,434,043
0.5
1,135,000 
(1)
Carnival
Corp.,
5.750%,
08/01/2032
1,147,505
0.4
915,000 
(1)
Cinemark
USA,
Inc.,
7.000%,
08/01/2032
944,551
0.3
1,090,000 
(1)
Clarios
Global
L.P.
/
Clarios
US
Finance
Co.,
6.750%,
09/15/2032
1,113,898
0.4
825,000 
(1)
Core
&
Main
L.P.,
6.000%,
07/01/2034
829,730
0.3
610,000 
(1)
Gaia
Purchaser,
Inc.,
7.625%,
07/15/2033
617,373
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Cyclical:
(continued)
545,000 
(1)
Gap,
Inc.,
3.625%,
10/01/2029
$
513,887
0.2
720,000 
(1)
Gap,
Inc.,
3.875%,
10/01/2031
656,457
0.2
810,000 
(1)
Gates
Corp.,
6.875%,
07/01/2029
829,463
0.3
755,000 
Goodyear
Tire
&
Rubber
Co.,
6.625%,
07/15/2030
729,786
0.2
865,000 
Goodyear
Tire
&
Rubber
Co.,
8.875%,
07/15/2032
873,079
0.3
390,000 
(1)
Hilton
Domestic
Operating
Co.,
Inc.,
5.750%,
09/15/2033
391,654
0.1
440,000 
(1)
Hilton
Domestic
Operating
Co.,
Inc.,
5.875%,
04/01/2029
445,155
0.2
850,000 
(1)
Hilton
Domestic
Operating
Co.,
Inc.,
5.875%,
03/15/2033
858,155
0.3
1,280,000 
(1)
International
Game
Technology
PLC,
5.250%,
01/15/2029
1,276,428
0.4
895,000 
(1)
Light
&
Wonder
International,
Inc.,
6.250%,
10/01/2033
890,534
0.3
505,000 
(1)
Light
&
Wonder
International,
Inc.,
7.500%,
09/01/2031
523,695
0.2
235,000 
Macy's
Retail
Holdings
LLC,
4.500%,
12/15/2034
211,522
0.1
114,000 
(1)
Macy's
Retail
Holdings
LLC,
5.875%,
03/15/2030
114,090
0.0
665,000 
(1)
Macy's
Retail
Holdings
LLC,
6.125%,
03/15/2032
668,718
0.2
445,000 
MGM
Resorts
International,
4.750%,
10/15/2028
442,099
0.1
490,000 
(2)
MGM
Resorts
International,
6.500%,
04/15/2032
490,367
0.2
850,000 
Murphy
Oil
USA,
Inc.,
4.750%,
09/15/2029
837,054
0.3
235,000 
(1)
Murphy
Oil
USA,
Inc.,
5.875%,
06/01/2034
235,882
0.1
845,000 
(1)
NCL
Corp.
Ltd.,
5.875%,
01/15/2031
820,725
0.3
1,195,000 
(1)
NCL
Corp.
Ltd.,
6.750%,
02/01/2032
1,193,156
0.4
535,000 
Newell
Brands,
Inc.,
6.375%,
09/15/2027
540,548
0.2
640,000 
(2)
Newell
Brands,
Inc.,
6.625%,
05/15/2032
648,446
0.2
635,000 
(1)
Newell
Brands,
Inc.,
8.500%,
06/01/2028
663,764
0.2
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
3
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Cyclical:
(continued)
1,050,000 
(1)
Pioneer
Opco
LLC,
7.000%,
05/15/2033
$
1,069,798
0.4
260,000 
(1)
QXO
Building
Products,
Inc.,
6.500%,
07/15/2031
265,129
0.1
210,000 
(1)
QXO
Building
Products,
Inc.,
6.875%,
07/15/2034
215,707
0.1
905,000 
Sally
Holdings
LLC
/
Sally
Capital,
Inc.,
6.750%,
04/01/2032
925,152
0.3
810,000 
(1)
Scientific
Games
Holdings
L.P./Scientific
Games
US
FinCo,
Inc.,
6.625%,
03/01/2030
692,902
0.2
1,050,000 
(1)(2)
SeaWorld
Parks
&
Entertainment,
Inc.,
5.250%,
08/15/2029
1,028,213
0.4
735,000 
(1)
Somnigroup
International,
Inc.,
3.875%,
10/15/2031
675,981
0.2
530,000 
(1)
Somnigroup
International,
Inc.,
4.000%,
04/15/2029
511,279
0.2
1,360,000 
(1)
Station
Casinos
LLC,
4.500%,
02/15/2028
1,345,186
0.5
660,000 
(1)
Tenneco,
Inc.,
8.000%,
11/17/2028
664,501
0.2
995,000 
(1)
Victoria's
Secret
&
Co.,
4.625%,
07/15/2029
969,643
0.3
1,070,000 
(1)
Viking
Cruises
Ltd.,
5.875%,
10/15/2033
1,072,200
0.4
350,000 
(1)
Viking
Cruises
Ltd.,
7.000%,
02/15/2029
351,358
0.1
935,000 
(1)
Voyager
Parent
LLC,
9.250%,
07/01/2032
989,355
0.3
525,000 
(1)
Whirlpool
Corp.,
7.500%,
07/01/2031
532,585
0.2
525,000 
(1)
Whirlpool
Corp.,
7.875%,
07/01/2034
528,466
0.2
1,045,000 
(1)
Wynn
Resorts
Finance
LLC
/
Wynn
Resorts
Capital
Corp.,
6.250%,
03/15/2033
1,049,489
0.4
1,390,000 
Yum!
Brands,
Inc.,
3.625%,
03/15/2031
1,294,372
0.4
45,813,011
15.7
Consumer,
Non-cyclical
:
17.7%
1,035,000 
(1)
Acadia
Healthcare
Co.,
Inc.,
5.500%,
07/01/2028
1,030,873
0.4
500,000 
(1)
Albertsons
Cos.,
Inc.
/
Safeway,
Inc.
/
New
Albertsons
L.P.
/
Albertsons
LLC,
4.875%,
02/15/2030
484,029
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Non-cyclical:
(continued)
995,000 
(1)
Albertsons
Cos.,
Inc.
/
Safeway,
Inc.
/
New
Albertsons
L.P.
/
Albertsons
LLC,
5.750%,
03/31/2034
$
948,827
0.3
1,115,000 
(1)
Albion
Financing
1
Sarl
/
Aggreko
Holdings,
Inc.,
7.000%,
05/21/2030
1,155,262
0.4
955,000 
(1)
Allied
Universal
Holdco
LLC/Allied
Universal
Finance
Corp./Atlas
Luxco
4
Sarl,
4.625%,
06/01/2028
941,744
0.3
500,000 
(1)
Allied
Universal
Holdco
LLC/Allied
Universal
Finance
Corp./Atlas
Luxco
4
Sarl,
4.625%,
06/01/2028
491,748
0.2
1,050,000 
(1)
APi
Group
DE,
Inc.,
5.750%,
06/01/2034
1,040,696
0.4
138,000 
(1)
Avis
Budget
Car
Rental
LLC
/
Avis
Budget
Finance,
Inc.,
5.750%,
07/15/2027
138,486
0.1
1,155,000 
(1)
Avis
Budget
Car
Rental
LLC
/
Avis
Budget
Finance,
Inc.,
8.000%,
02/15/2031
1,167,278
0.4
945,000 
(1)
Bausch
&
Lomb
Escrow
Corp.,
8.375%,
10/01/2028
972,169
0.3
950,000 
(1)
BellRing
Brands,
Inc.,
7.000%,
03/15/2030
950,544
0.3
935,000 
(1)
Belron
UK
Finance
PLC,
5.750%,
10/15/2029
939,929
0.3
660,000 
(1)
Brink's
Co.,
6.500%,
06/15/2029
673,702
0.2
255,000 
(1)
Brink's
Co.,
6.750%,
06/15/2032
260,789
0.1
2,725,000 
Centene
Corp.,
3.375%,
02/15/2030
2,541,183
0.9
625,000 
(1)
CHS/Community
Health
Systems,
Inc.,
5.250%,
05/15/2030
590,181
0.2
315,000 
(1)
CHS/Community
Health
Systems,
Inc.,
6.000%,
01/15/2029
312,064
0.1
900,000 
(1)
Cimpress
PLC,
7.375%,
09/15/2032
910,603
0.3
1,035,000 
(1)
Concentra
Escrow
Issuer
Corp.,
6.875%,
07/15/2032
1,072,659
0.4
920,000 
(1)
CPI
CG,
Inc.,
10.000%,
07/15/2029
968,314
0.3
765,000 
(1)
DaVita,
Inc.,
3.750%,
02/15/2031
709,159
0.2
1,205,000 
(1)
DaVita,
Inc.,
4.625%,
06/01/2030
1,168,093
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
4
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Non-cyclical:
(continued)
395,000 
(1)
DaVita,
Inc.,
6.750%,
07/15/2033
$
407,815
0.1
1,065,000 
(1)
Embecta
Corp.,
5.000%,
02/15/2030
829,915
0.3
1,230,000 
(1)(2)
EquipmentShare.
com,
Inc.,
8.000%,
03/15/2033
1,260,220
0.4
1,135,000 
(1)
Fiesta
Purchaser,
Inc.,
7.875%,
03/01/2031
1,145,659
0.4
600,000 
(1)
Genmab
A/S/Genmab
Finance
LLC,
6.250%,
12/15/2032
611,798
0.2
1,000,000 
(1)
Genmab
A/S/Genmab
Finance
LLC,
7.250%,
12/15/2033
1,043,258
0.4
990,000 
(1)
Global
Medical
Response,
Inc.,
7.375%,
10/01/2032
1,026,531
0.4
990,000 
(1)
Herc
Holdings,
Inc.,
7.000%,
06/15/2030
1,025,890
0.4
800,000 
(1)(2)
Herc
Holdings,
Inc.,
7.250%,
06/15/2033
834,606
0.3
835,000 
(1)
Industrial
F&B
Investments
III,
Inc.,
7.750%,
02/11/2033
851,536
0.3
1,050,000 
(1)
Insulet
Corp.,
6.500%,
04/01/2033
1,065,815
0.4
1,000,000 
(1)
Jazz
Securities
DAC,
4.375%,
01/15/2029
980,061
0.3
350,000 
(1)
LifePoint
Health,
Inc.,
8.375%,
02/15/2032
364,758
0.1
1,170,000 
(1)
LifePoint
Health,
Inc.,
9.875%,
08/15/2030
1,234,245
0.4
1,400,000 
(1)
Medline
Borrower
L.P.,
5.250%,
10/01/2029
1,392,152
0.5
900,000 
(1)
Organon
&
Co
/
Organon
Foreign
Debt
Co-Issuer
BV,
5.125%,
04/30/2031
890,807
0.3
200,000 
(1)
Organon
&
Co
/
Organon
Foreign
Debt
Co-Issuer
BV,
6.750%,
05/15/2034
211,222
0.1
640,000 
(1)
Performance
Food
Group,
Inc.,
5.625%,
03/01/2034
628,599
0.2
1,045,000 
Perrigo
Finance
Unlimited
Co.,
6.125%,
09/30/2032
998,786
0.3
1,125,000 
(1)
Post
Holdings,
Inc.,
4.625%,
04/15/2030
1,087,493
0.4
375,000 
(1)
Post
Holdings,
Inc.,
6.250%,
10/15/2034
368,666
0.1
790,000 
(1)
Post
Holdings,
Inc.,
6.375%,
03/01/2033
784,316
0.3
620,000 
(1)
Primo
Water
Holdings,
Inc.
/
Triton
Water
Holdings,
Inc.,
6.250%,
04/01/2029
622,716
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Non-cyclical:
(continued)
1,040,000 
(1)(2)
Select
Medical
Corp.,
6.250%,
12/01/2032
$
1,010,983
0.3
535,000 
Service
Corp.
International,
5.125%,
06/01/2029
531,098
0.2
590,000 
Service
Corp.
International,
5.750%,
10/15/2032
593,112
0.2
855,000 
(1)
Shift4
Payments
LLC
/
Shift4
Payments
Finance
Sub,
Inc.,
6.750%,
08/15/2032
857,233
0.3
1,375,000 
(1)
Simmons
Foods,
Inc./
Simmons
Prepared
Foods,
Inc./Simmons
Pet
Food,
Inc./Simmons
Feed,
4.625%,
03/01/2029
1,329,250
0.5
970,000 
(1)
Sotera
Health
Holdings
LLC,
7.375%,
06/01/2031
1,006,968
0.3
720,000 
Tenet
Healthcare
Corp.,
5.125%,
11/01/2027
720,375
0.2
1,415,000 
(1)
Tenet
Healthcare
Corp.,
6.000%,
11/15/2033
1,428,390
0.5
55,000 
Tenet
Healthcare
Corp.,
6.125%,
10/01/2028
55,250
0.0
1,485,000 
Tenet
Healthcare
Corp.,
6.125%,
06/15/2030
1,497,738
0.5
765,000 
United
Rentals
North
America,
Inc.,
4.875%,
01/15/2028
762,941
0.3
290,000 
(1)
United
Rentals
North
America,
Inc.,
6.125%,
03/15/2034
297,666
0.1
915,000 
(1)
Wand
NewCo
3,
Inc.,
7.625%,
01/30/2032
946,889
0.3
380,000 
(1)
Williams
Scotsman
International,
Inc.,
4.625%,
08/15/2028
376,848
0.1
765,000 
(1)
Williams
Scotsman,
Inc.,
6.625%,
04/15/2030
788,674
0.3
220,000 
(1)
Williams
Scotsman,
Inc.,
7.375%,
10/01/2031
227,915
0.1
51,566,526
17.7
Energy
:
7.7%
670,000 
(1)
Antero
Midstream
Partners
L.P.
/
Antero
Midstream
Finance
Corp.,
5.375%,
06/15/2029
668,228
0.2
905,000 
(1)
Archrock
Services
L.P.
/
Archrock
Partners
Finance
Corp.,
6.000%,
02/01/2034
900,118
0.3
905,000 
(1)
Civitas
Resources,
Inc.,
8.750%,
07/01/2031
945,675
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
5
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Energy:
(continued)
665,000 
(1)
CNX
Resources
Corp.,
7.250%,
03/01/2032
$
685,473
0.2
1,010,000 
(1)
Crescent
Energy
Finance
LLC,
7.625%,
04/01/2032
1,018,775
0.3
830,000 
(1)
Delek
Logistics
Partners
L.P.
/
Delek
Logistics
Finance
Corp.,
6.875%,
06/01/2034
826,572
0.3
345,000 
(1)
Delek
Logistics
Partners
L.P.
/
Delek
Logistics
Finance
Corp.,
7.375%,
06/30/2033
351,702
0.1
514,000 
(1)
Delek
Logistics
Partners
L.P.
/
Delek
Logistics
Finance
Corp.,
8.625%,
03/15/2029
534,516
0.2
995,000 
(1)
Global
Partners
L.P.
/
GLP
Finance
Corp.,
8.250%,
01/15/2032
1,042,570
0.4
390,000 
(1)
Hilcorp
Energy
I
L.P.
/
Hilcorp
Finance
Co.,
6.000%,
04/15/2030
383,991
0.1
210,000 
(1)
Hilcorp
Energy
I
L.P.
/
Hilcorp
Finance
Co.,
6.000%,
02/01/2031
203,533
0.1
470,000 
(1)
Hilcorp
Energy
I
L.P.
/
Hilcorp
Finance
Co.,
6.250%,
04/15/2032
455,240
0.2
470,000 
(1)
Howard
Midstream
Energy
Partners
LLC,
7.375%,
07/15/2032
487,041
0.2
1,360,000 
(1)
Kinetik
Holdings
L.P.,
5.875%,
06/15/2030
1,368,522
0.5
1,140,000 
(1)
Kodiak
Gas
Services
LLC,
5.875%,
04/01/2031
1,143,533
0.4
655,000 
(1)
Northern
Oil
and
Gas,
Inc.,
8.750%,
06/15/2031
675,001
0.2
1,050,000 
(1)
Northriver
Midstream
Finance
L.P.,
6.750%,
07/15/2032
1,063,943
0.4
350,000 
SM
Energy
Co.,
6.625%,
01/15/2027
350,685
0.1
975,000 
(1)
Summit
Midstream
Holdings
LLC,
8.625%,
10/31/2029
1,016,542
0.3
1,470,000 
(1)
Sunoco
L.P.,
5.875%,
03/15/2034
1,450,719
0.5
1,415,000 
Sunoco
L.P.
/
Sunoco
Finance
Corp.,
4.500%,
04/30/2030
1,375,214
0.5
820,000 
(1)
Transocean
International
Ltd.,
7.875%,
10/15/2032
856,461
0.3
1,070,000 
(1)
Venture
Global
LNG,
Inc.,
7.000%,
01/15/2030
1,091,811
0.4
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Energy:
(continued)
1,190,000 
(1)
Venture
Global
LNG,
Inc.,
8.375%,
06/01/2031
$
1,239,151
0.4
1,140,000 
(1)
Venture
Global
Plaquemines
LNG
LLC,
6.500%,
01/15/2034
1,188,384
0.4
1,135,000 
(1)
Venture
Global
Plaquemines
LNG
LLC,
6.750%,
01/15/2036
1,203,987
0.4
22,527,387
7.7
Financial
:
11.5%
260,000 
(1)
Acrisure
LLC
/
Acrisure
Finance,
Inc.,
6.750%,
07/01/2032
233,922
0.1
1,240,000 
(1)
Acrisure
LLC
/
Acrisure
Finance,
Inc.,
7.500%,
11/06/2030
1,176,916
0.4
1,940,000 
(1)
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co-Issuer,
6.500%,
10/01/2031
1,937,104
0.7
850,000 
(2)
Ally
Financial,
Inc.,
6.700%,
02/14/2033
875,278
0.3
1,200,000 
(1)
Burford
Capital
Global
Finance
LLC,
6.875%,
04/15/2030
1,143,276
0.4
1,050,000 
(1)
First
Eagle
Holdings,
Inc.,
7.250%,
08/15/2032
1,058,291
0.4
1,175,000 
(1)
Focus
Financial
Partners
LLC,
6.750%,
09/15/2031
1,182,905
0.4
320,000 
(1)
Freedom
Mortgage
Corp.,
6.625%,
01/15/2027
320,174
0.1
650,000 
(1)
Freedom
Mortgage
Corp.,
12.250%,
10/01/2030
701,789
0.2
830,000 
(1)
Freedom
Mortgage
Holdings
LLC,
8.375%,
04/01/2032
844,879
0.3
1,530,000 
(1)
Icahn
Enterprises
L.P.
/
Icahn
Enterprises
Finance
Corp.,
10.000%,
11/15/2029
1,510,822
0.5
1,690,000 
(1)
Iron
Mountain,
Inc.,
5.250%,
07/15/2030
1,665,743
0.6
925,000 
(1)
Iron
Mountain,
Inc.,
6.250%,
01/15/2035
929,762
0.3
355,000 
(1)
Jane
Street
Group
/
JSG
Finance,
Inc.,
4.500%,
11/15/2029
346,247
0.1
1,330,000 
(1)
Jane
Street
Group
/
JSG
Finance,
Inc.,
6.125%,
11/01/2032
1,330,895
0.4
500,000 
(1)
Midcap
Financial
Issuer
Trust,
5.625%,
01/15/2030
483,227
0.2
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
6
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Financial:
(continued)
500,000 
(1)
Midcap
Financial
Issuer
Trust,
6.500%,
05/01/2028
$
499,579
0.2
920,000 
Navient
Corp.,
4.875%,
03/15/2028
902,942
0.3
1,795,000 
OneMain
Finance
Corp.,
5.375%,
11/15/2029
1,764,284
0.6
1,085,000 
OneMain
Finance
Corp.,
6.500%,
03/15/2033
1,068,526
0.4
1,530,000 
(1)
Panther
Escrow
Issuer
LLC,
7.125%,
06/01/2031
1,526,032
0.5
1,355,000 
(1)
Park
Intermediate
Holdings
LLC
/
PK
Domestic
Property
LLC
/
PK
Finance
Co-Issuer,
7.000%,
02/01/2030
1,388,181
0.5
830,000 
(1)
PennyMac
Financial
Services,
Inc.,
6.875%,
02/15/2033
809,908
0.3
1,055,000 
(1)
PennyMac
Financial
Services,
Inc.,
7.875%,
12/15/2029
1,097,832
0.4
1,445,000 
(1)
PRA
Group,
Inc.,
5.000%,
10/01/2029
1,366,322
0.5
585,000 
(1)
RHP
Hotel
Properties
L.P.
/
RHP
Finance
Corp.,
5.750%,
03/15/2034
579,912
0.2
465,000 
(1)
RHP
Hotel
Properties
L.P.
/
RHP
Finance
Corp.,
6.500%,
06/15/2033
477,386
0.2
535,000 
(1)
RHP
Hotel
Properties
L.P.
/
RHP
Finance
Corp.,
7.250%,
07/15/2028
546,954
0.2
1,180,000 
(1)
Rocket
Cos.,
Inc.,
6.125%,
08/01/2030
1,200,824
0.4
1,480,000 
(1)
Rocket
Cos.,
Inc.,
6.375%,
08/01/2033
1,506,957
0.5
352,000 
(3)
SLM
Corp.,
6.495%,
05/15/2032
352,033
0.1
550,000 
(1)
Starwood
Property
Trust,
Inc.,
6.500%,
07/01/2030
562,711
0.2
950,000 
(1)
VFH
Parent
LLC
/
Valor
Co-Issuer,
Inc.,
7.500%,
06/15/2031
994,152
0.3
1,000,000 
(1)
WS
Escrow
LLC,
7.750%,
06/01/2033
1,027,587
0.3
33,413,352
11.5
Industrial
:
12.5%
730,000 
(1)
AAR
Escrow
Issuer
LLC,
6.750%,
03/15/2029
746,402
0.3
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Industrial:
(continued)
920,000 
(1)
AmeriTex
HoldCo
Intermediate
LLC,
7.625%,
08/15/2033
$
962,010
0.3
805,000 
(1)
Amsted
Industries,
Inc.,
6.375%,
03/15/2033
814,532
0.3
695,000 
(1)
Arcosa,
Inc.,
6.875%,
08/15/2032
725,547
0.2
1,135,000 
(1)
Avient
Corp.,
6.250%,
11/01/2031
1,150,858
0.4
825,000 
(1)
Bombardier,
Inc.,
6.750%,
06/15/2033
855,014
0.3
1,710,000 
(1)
Builders
FirstSource,
Inc.,
6.375%,
06/15/2032
1,736,801
0.6
920,000 
(1)
Cascades,
Inc.
/
Cascades
USA,
Inc.,
5.375%,
01/15/2028
920,892
0.3
1,110,000 
(1)
Clean
Harbors,
Inc.,
6.375%,
02/01/2031
1,126,444
0.4
1,375,000 
(1)
Clydesdale
Acquisition
Holdings,
Inc.,
6.750%,
04/15/2032
1,335,607
0.5
630,000 
Crown
Americas
LLC,
5.875%,
06/01/2033
634,841
0.2
1,595,000 
(1)
Emerald
Debt
Merger
Sub
LLC,
6.625%,
12/15/2030
1,632,616
0.6
700,000 
(1)
Energizer
Holdings,
Inc.,
4.750%,
06/15/2028
694,851
0.2
675,000 
(1)
Energizer
Holdings,
Inc.,
6.000%,
09/15/2033
650,299
0.2
605,000 
(1)
Entegris
Escrow
Corp.,
5.950%,
06/15/2030
611,764
0.2
535,000 
(1)
Entegris,
Inc.,
3.625%,
05/01/2029
512,647
0.2
1,160,000 
(1)
Fortress
Transportation
and
Infrastructure
Investors
LLC,
5.500%,
05/01/2028
1,157,891
0.4
375,000 
(1)
Fortress
Transportation
and
Infrastructure
Investors
LLC,
5.875%,
04/15/2033
375,398
0.1
650,000 
(1)
GFL
Environmental
Holdings
US,
Inc.,
5.500%,
02/01/2034
636,570
0.2
798,000 
(1)
GFL
Environmental,
Inc.,
4.375%,
08/15/2029
776,338
0.3
400,000 
(1)
Global
Infrastructure
Solutions,
Inc.,
5.625%,
06/01/2029
400,010
0.1
580,000 
(1)
Global
Infrastructure
Solutions,
Inc.,
7.500%,
04/15/2032
608,550
0.2
1,275,000 
(1)
Imola
Merger
Corp.,
4.750%,
05/15/2029
1,252,978
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
7
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Industrial:
(continued)
1,160,000 
(1)
Owens-Brockway
Glass
Container,
Inc.,
7.250%,
05/15/2031
$
1,147,807
0.4
1,820,000 
(1)
Quikrete
Holdings,
Inc.,
6.375%,
03/01/2032
1,859,416
0.6
1,105,000 
(1)
Sensata
Technologies,
Inc.,
3.750%,
02/15/2031
1,033,899
0.4
1,400,000 
(1)
Smyrna
Ready
Mix
Concrete
LLC,
8.875%,
11/15/2031
1,476,931
0.5
1,050,000 
(1)
Solaris
Energy
Infrastructure
LLC,
6.375%,
05/15/2031
1,062,251
0.4
705,000 
(1)
Standard
Industries,
Inc.,
3.375%,
01/15/2031
634,979
0.2
985,000 
(1)
Standard
Industries,
Inc.,
4.375%,
07/15/2030
936,233
0.3
1,050,000 
(1)
Stonepeak
Nile
Parent
LLC,
7.250%,
03/15/2032
1,088,110
0.4
665,000 
(1)
Terex
Corp.,
6.250%,
10/15/2032
673,997
0.2
645,000 
(1)
TransDigm,
Inc.,
6.000%,
01/15/2033
651,723
0.2
310,000 
(1)
TransDigm,
Inc.,
6.250%,
01/31/2034
316,577
0.1
545,000 
(1)
TransDigm,
Inc.,
6.375%,
05/31/2033
550,550
0.2
1,035,000 
(1)
TransDigm,
Inc.,
6.625%,
03/01/2032
1,062,811
0.4
905,000 
(1)
TransDigm,
Inc.,
6.750%,
01/31/2034
928,914
0.3
810,000 
(1)
Waste
Pro
USA,
Inc.,
7.000%,
02/01/2033
830,891
0.3
890,000 
(1)
Weekley
Homes
LLC
/
Weekley
Finance
Corp.,
4.875%,
09/15/2028
878,393
0.3
1,155,000 
(1)
WESCO
Distribution,
Inc.,
5.500%,
04/15/2034
1,145,451
0.4
36,597,793
12.5
Technology
:
4.5%
840,000 
(1)
Amentum
Escrow
Corp.,
7.250%,
08/01/2032
865,737
0.3
840,000 
(1)
CACI
International,
Inc.,
6.375%,
06/15/2033
852,449
0.3
1,910,000 
(1)
Cloud
Software
Group,
Inc.,
6.500%,
03/31/2029
1,854,651
0.6
875,000 
(1)
Cloud
Software
Group,
Inc.,
6.625%,
08/15/2033
759,313
0.3
1,385,000 
(1)
CoreWeave,
Inc.,
9.250%,
06/01/2030
1,395,014
0.5
510,000 
(1)
Fair
Isaac
Corp.,
6.000%,
05/15/2033
502,449
0.2
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Technology:
(continued)
855,000 
(1)
Fortress
Intermediate
3,
Inc.,
7.500%,
06/01/2031
$
870,287
0.3
720,000 
(1)
McAfee
Corp.,
7.375%,
02/15/2030
612,408
0.2
925,000 
(1)
OAK-Eagle
Acquireco,
Inc.,
7.250%,
07/01/2033
968,152
0.3
925,000 
(1)
OAK-Eagle
Acquireco,
Inc.,
8.750%,
07/01/2034
982,278
0.3
515,000 
(1)
Open
Text
Corp.,
3.875%,
12/01/2029
473,918
0.2
965,000 
(1)
Open
Text
Holdings,
Inc.,
4.125%,
02/15/2030
884,714
0.3
965,000 
(1)(2)
Playtika
Holding
Corp.,
4.250%,
03/15/2029
864,529
0.3
1,210,000 
(1)
UKG,
Inc.,
6.875%,
02/01/2031
1,176,276
0.4
13,062,175
4.5
Utilities
:
1.8%
840,000 
(1)
Alpha
Generation
LLC,
6.750%,
10/15/2032
855,838
0.3
770,000 
(1)
NRG
Energy,
Inc.,
3.625%,
02/15/2031
715,383
0.2
1,240,000 
(1)
NRG
Energy,
Inc.,
6.000%,
02/01/2033
1,247,099
0.4
785,000 
(1)
NRG
Energy,
Inc.,
6.250%,
11/01/2034
795,176
0.3
514,000 
(3)
PG&E
Corp.,
6.850%,
09/15/2056
512,429
0.2
1,135,000 
(1)
Talen
Energy
Supply
LLC,
6.250%,
02/01/2034
1,128,578
0.4
5,254,503
1.8
Total
Corporate
Bonds/
Notes
(Cost
$256,566,193)
256,935,420
88.1
BANK
LOANS
:
8.5%
Communications
:
0.3%
1,000,000 
(4)
NTI
Buyer
LLC,
06/12/2033
995,000
0.3
Consumer,
Cyclical
:
2.1%
997,500 
AI
Aqua
Merger
Sub
Inc
FKA
Osmosis
Buyer
Limited,
Tranche
B,
6.119%,
(TSFR3M+2.750%),
07/31/2028
997,983
0.4
1,000,000 
AI
Aqua
Merger
Sub,
Inc.,
Tranche
B,
6.119%,
(TSFR1M+2.5%),
06/25/2033
1,000,833
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
8
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
BANK
LOANS:
(continued)
Consumer,
Cyclical:
(continued)
1,000,000 
EG
America
LLC,
Tranche
B,
6.916%,
(TSFR1M+2.250%),
02/10/2031
$
1,004,844
0.4
994,962 
Flynn
Restaurant
Group
LP,
Tranche
B2,
7.394%,
(TSFR1M+3.75%),
01/28/2032
986,008
0.3
994,937 
LC
Ahab
US
Bidco
LLC,
Tranche
B,
6.144%,
(TSFR1M+2.250%),
05/01/2031
995,558
0.3
1,000,000 
Raising
Canes
Restaurants
LLC,
Tranche
B,
5.613%,
(TSFR1M+2%),
06/06/2033
996,094
0.3
5,981,320
2.1
Consumer,
Non-cyclical
:
2.7%
1,000,000 
Electron
Bidco
Inc.,
Tranche
B,
6.144%,
(TSFR1M+2.250%),
02/07/2033
1,002,083
0.3
1,000,000 
Ensemble
RCM
LLC,
Tranche
B,
6.663%,
(TSFR3M+3.000%),
02/09/2033
994,896
0.3
997,697 
Fugue
Finance
B.V.,
Tranche
B,
5.916%,
(TSFR3M+2.250%),
01/09/2032
996,553
0.3
1,000,000 
Hopper
Merger
Sub,
Inc.,
Tranche
B,
5.930%,
(TSFR3M+2.25%),
04/07/2033
979,437
0.3
1,000,000 
McKesson
Medical-
Surgical
Top
Holdings,
Inc.,
Tranche
B,
5.982%,
(TSFR3M+2.25%),
06/09/2032
1,002,031
0.3
1,000,000 
Mister
Car
Wash
Holdings
Inc.,
Incremental
First
Lien
Term
Loan
B,
6.644%,
(TSFR1M+3%),
03/27/2031
1,004,107
0.4
1,000,000 
Nourish
Buyer
I,
Inc.,
Tranche
B,
7.669%,
(TSFR3M+4.000%),
07/12/2032
1,009,375
0.4
997,500 
Primo
Brands
(BlueTriton
Brands/
Nestl
Waters
NA)
Term
Loan
B
275-15,
Tranche
B,
6.482%,
03/31/2031
1,003,059
0.4
7,991,541
2.7
Principal
Amount†
Value
Percentage
of
Net
Assets
BANK
LOANS:
(continued)
Energy
:
0.3%
715,500 
Third
Coast
Infrastructure
LLC,
6.894%,
(TSFR1M+3.250%),
09/25/2030
$
719,972
0.3
Industrial
:
2.4%
94,118 
(5)
Azuria
Water
Solutions,
Inc.,
Initial
Delayed
Draw
Term
Loan,
6.430%,
(TSFR3M+2.75%),
04/25/2033
94,118
0.0
905,882 
Azuria
Water
Solutions,
Inc.,
Tranche
B,
6.430%,
(TSFR3M+2.75%),
04/25/2033
905,882
0.3
1,000,000 
(4)
Belden,
Inc.,
Tranche
B,
06/11/2033
1,002,500
0.4
994,975 
Chariot
Buyer
LLC,
Tranche
B,
6.644%,
(TSFR1M+2.250%),
09/08/2032
996,517
0.3
997,500 
Graham
Packaging
Company
Inc.,
Tranche
B,
5.894%,
(TSFR1M+2.250%),
01/26/2033
999,144
0.4
1,000,000 
Hillenbrand
Inc.,
Tranche
B,
3.644%,
(TSFR1M+2.250%),
02/10/2033
983,125
0.3
995,007 
Pro
Mach
Group,
Inc.,
Tranche
B,
6.144%,
(TSFR1M+2.5%),
10/18/2032
996,756
0.3
997,500 
TK
Elevator
Midco
Gmbh,
Term
Loan
B,
6.480%,
(TSFR6M+2.750%),
04/30/2030
1,002,844
0.4
6,980,886
2.4
Technology
:
0.3%
1,000,000 
AthenaHealth
Group,
Inc.,
Tranche
B,
6.870%,
(TSFR1M+3.25%),
02/17/2032
990,625
0.3
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
9
Voya
VACS
Series
HYB
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
BANK
LOANS:
(continued)
Utilities
:
0.4%
1,000,000 
Discovery
Energy
Holding
Corporation,
Tranche
B,
6.732%,
(TSFR3M+3.000%),
05/01/2031
$
1,002,812
0.4
Total
Bank
Loans
(Cost
$24,605,087)
24,662,156
8.5
Total
Long-Term
Investments
(Cost
$281,171,280)
281,597,576
96.6
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
5.9%
Time
Deposits
:
0.4%
182,470 
(6)
Credit
Agricole
Corporate
and
Investment
Bank,
3.600
%,
07/01/2026
182,470
0.1
182,470 
(6)
DZ
Bank
AG,
3.610
%,
07/01/2026
182,470
0.1
182,470 
(6)
Landesbank
Hessen
Thueringen
Girozentrale,
3.630
%,
07/01/2026
182,470
0.1
182,470 
(6)
Mizuho
Bank
Ltd.,
3.620
%,
07/01/2026
182,470
0.0
182,470 
(6)
Royal
Bank
of
Canada,
3.670
%,
07/01/2026
182,470
0.1
182,470 
(6)
Societe
Generale
S.A.,
3.630
%,
07/01/2026
182,470
0.0
Total
Time
Deposits
(Cost
$1,094,820)
1,094,820
0.4
Repurchase
Agreements
:
2.1%
1,004,521 
(6)
CF
Secured,
LLC,
Repurchase
Agreement
dated
06/30/2026,
3.650%,
due
07/01/2026
(Repurchase
Amount
$1,004,621,
collateralized
by
various
U.S.
Government
Agency
Obligations,
2.000%-7.000%,
Market
Value
plus
accrued
interest
$1,024,612,
due
08/31/26-12/20/65)
1,004,521
0.3
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS:
(continued)
Repurchase
Agreements
(continued)
1,633,703 
(6)
Daiwa
Capital
Markets
America
Inc.,
Repurchase
Agreement
dated
06/30/2026,
3.650%,
due
07/01/2026
(Repurchase
Amount
$1,633,866,
collateralized
by
various
U.S.
Government
Agency
Obligations,
2.000%-7.000%,
Market
Value
plus
accrued
interest
$1,666,377,
due
04/07/28-06/20/56)
$
1,633,703
0.6
110,711 
(6)
Daiwa
Capital
Markets
America
Inc.,
Repurchase
Agreement
dated
06/30/2026,
3.640%,
due
07/01/2026
(Repurchase
Amount
$110,722,
collateralized
by
various
U.S.
Government
Securities,
2.125%-4.125%,
Market
Value
plus
accrued
interest
$112,925,
due
06/30/27-01/15/35)
110,711
0.0
1,766,047 
(6)
Jefferies
LLC,
Repurchase
Agreement
dated
06/30/2026,
3.650%,
due
07/01/2026
(Repurchase
Amount
$1,766,224,
collateralized
by
various
U.S.
Government
Securities,
0.000%-
4.250%,
Market
Value
plus
accrued
interest
$1,801,368,
due
12/17/26-05/15/51)
1,766,047
0.6
255,229 
(6)
Mizuho
Securities
USA
Inc.,
Repurchase
Agreement
dated
06/30/2026,
3.640%,
due
07/01/2026
(Repurchase
Amount
$255,254,
collateralized
by
various
U.S.
Government
Securities,
3.375%-4.250%,
Market
Value
plus
accrued
interest
$260,334,
due
03/15/27-08/31/31)
255,229
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
10
Voya
VACS
Series
HYB
Fund
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS:
(continued)
Repurchase
Agreements
(continued)
1,433,776 
(6)
Nomura
Securities
International,
Inc.,
Repurchase
Agreement
dated
06/30/2026,
3.650%,
due
07/01/2026
(Repurchase
Amount
$1,433,919,
collateralized
by
various
U.S.
Government
Agency
Obligations,
3.000%-6.500%,
Market
Value
plus
accrued
interest
$1,462,638,
due
05/01/31-05/01/56)
$
1,433,776
0.5
Total
Repurchase
Agreements
(Cost
$6,203,987)
6,203,987
2.1
Commercial
Paper
:
2.8%
3,000,000 
AutoZone,
Inc.,
3.930
%,
07/08/2026
2,997,417
1.0
2,000,000 
Constellation
Energy
Corp.,
4.500
%,
07/06/2026
1,998,520
0.7
3,000,000 
Exxon
Mobil
Corp.,
3.640
%,
07/02/2026
2,999,402
1.1
Total
Commercial
Paper
(Cost
$7,996,339)
7,995,339
2.8
Shares
RA
Value
Percentage
of
Net
Assets
Mutual
Funds
:
0.6%
1,728,000 
(7)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
3.560%
(Cost
$1,728,000)
$
1,728,000
0.6
Total
Short-Term
Investments
(Cost
$17,023,146)
17,022,146
5.9
Total
Investments
in
Securities
(Cost
$298,194,426)
$
298,619,722
102.5
Liabilities
in
Excess
of
Other
Assets
(7,183,187)
(2.5)
Net
Assets
$
291,436,535
100.0
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(1)
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.
(2)
Security,
or
a
portion
of
the
security,
is
on
loan.
(3)
Variable
rate
security.
Rate
shown
is
the
rate
in
effect
as
of
June
30,
2026.
(4)
Contract
rates
that
are
not
disclosed
do
not
take
effect
until
settlement
date
and
have
yet
to
be
determined.
(5)
All
or
a
portion
of
this
holding
is
subject
to
unfunded
loan
commitments.
(6)
All
or
a
portion
of
the
security
represents
securities
purchased
with
cash
collateral
received
for
securities
on
loan.
(7)
Rate
shown
is
the
7-day
yield
as
of
June
30,
2026.
Reference
Rate
Abbreviations:
TSFR1M
1-month
CME
Term
Secured
Overnight
Financing
Rate
TSFR3M
3-month
CME
Term
Secured
Overnight
Financing
Rate
TSFR6M
6-month
CME
Term
Secured
Overnight
Financing
Rate
PORTFOLIO
OF
INVESTMENTS
as
of
June
30,
2026
(Unaudited)
(continued)
11
Voya
VACS
Series
HYB
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
June
30,
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
June
30,
2026
Asset
Table
Investments,
at
fair
value
Corporate
Bonds/Notes
$
—
$
256,935,420
$
—
$
256,935,420
Bank
Loans
—
24,662,156
—
24,662,156
Short-Term
Investments
1,728,000
15,294,146
—
17,022,146
Total
Investments,
at
fair
value
$
1,728,000
$
296,891,722
$
—
$
298,619,722
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
2,537,327
Gross
Unrealized
Depreciation
(2,112,031)
Net
Unrealized
Appreciation
$
425,296