PORTFOLIO
OF
INVESTMENTS
as
of
December
31,
2025
(Unaudited)
1
Voya
High
Yield
Bond
Fund
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES
:
94.4%
Basic
Materials
:
5.2%
1,925,000 
(1)
Arsenal
AIC
Parent
LLC,
8.000%,
10/01/2030
$
2,045,141
0.9
1,920,000 
(1)
Capstone
Copper
Corp.,
6.750%,
03/31/2033
1,994,124
0.9
1,220,000 
Celanese
US
Holdings
LLC,
6.750%,
04/15/2033
1,214,703
0.6
2,125,000 
(1)
Chemours
Co.,
8.000%,
01/15/2033
2,059,460
1.0
2,085,000 
(1)
Cleveland-Cliffs,
Inc.,
7.625%,
01/15/2034
2,180,464
1.0
1,615,000 
(1)
Commercial
Metals
Co.,
6.000%,
12/15/2035
1,656,563
0.8
11,150,455
5.2
Communications
:
14.8%
1,170,000 
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
4.500%,
05/01/2032
1,050,873
0.5
2,125,000 
(1)
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
6.375%,
09/01/2029
2,155,283
1.0
2,090,000 
(1)
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.,
7.375%,
03/01/2031
2,134,136
1.0
2,085,000 
(1)
Cipher
Compute
LLC,
7.125%,
11/15/2030
2,126,143
1.0
2,525,000 
(1)
Directv
Financing
LLC,
8.875%,
02/01/2030
2,557,936
1.2
2,360,000 
(1)
Frontier
Communications
Holdings
LLC,
8.750%,
05/15/2030
2,466,874
1.1
2,935,000 
(1)
Gen
Digital,
Inc.,
6.250%,
04/01/2033
3,039,019
1.4
1,480,000 
(1)
Gray
Media,
Inc.,
9.625%,
07/15/2032
1,537,015
0.7
1,060,000 
(1)
Level
3
Financing,
Inc.,
8.500%,
01/15/2036
1,086,858
0.5
2,780,000 
(1)
Sirius
XM
Radio,
Inc.,
5.500%,
07/01/2029
2,804,358
1.3
2,075,000 
(1)
Snap,
Inc.,
6.875%,
03/01/2033
2,151,848
1.0
2,490,000 
(1)
Versant
Media
Group,
Inc.,
7.250%,
01/30/2031
2,570,313
1.2
3,645,000 
(1)
Vmed
O2
UK
Financing
I
PLC,
7.750%,
04/15/2032
3,803,011
1.7
2,460,000 
(1)
WULF
Compute
LLC,
7.750%,
10/15/2030
2,536,281
1.2
32,019,948
14.8
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Cyclical
:
14.3%
1,545,000 
(1)
1011778
BC
ULC
/
New
Red
Finance,
Inc.,
6.125%,
06/15/2029
$
1,587,753
0.7
1,080,000 
(1)
Acushnet
Co.,
5.625%,
12/01/2033
1,094,835
0.5
2,605,000 
(1)
Adient
Global
Holdings
Ltd.,
7.500%,
02/15/2033
2,690,470
1.3
2,120,000 
(1)
Advance
Auto
Parts,
Inc.,
7.375%,
08/01/2033
2,129,922
1.0
1,520,000 
(1)
Amer
Sports
Co.,
6.750%,
02/16/2031
1,592,268
0.7
1,885,000 
(1)
American
Axle
&
Manufacturing,
Inc.,
7.750%,
10/15/2033
1,921,076
0.9
1,310,000 
Bath
&
Body
Works,
Inc.,
6.875%,
11/01/2035
1,326,648
0.6
2,800,000 
(1)
Caesars
Entertainment,
Inc.,
6.000%,
10/15/2032
2,724,985
1.3
1,065,000 
(1)
Carnival
Corp.,
5.750%,
08/01/2032
1,094,321
0.5
2,160,000 
(1)
Clarios
Global
L.P.
/
Clarios
US
Finance
Co.,
6.750%,
09/15/2032
2,241,189
1.0
1,490,000 
(1)
Garrett
Motion
Holdings,
Inc.
/
Garrett
LX
I
Sarl,
7.750%,
05/31/2032
1,584,717
0.7
1,880,000 
Goodyear
Tire
&
Rubber
Co.,
6.625%,
07/15/2030
1,926,586
0.9
1,960,000 
(1)
Light
&
Wonder
International,
Inc.,
7.500%,
09/01/2031
2,048,749
1.0
2,605,000 
(1)
NCL
Corp.
Ltd.,
6.750%,
02/01/2032
2,668,920
1.2
2,105,000 
(1)
Newell
Brands,
Inc.,
8.500%,
06/01/2028
2,209,930
1.0
2,020,000 
(1)
Tenneco,
Inc.,
8.000%,
11/17/2028
2,027,837
1.0
30,870,206
14.3
Consumer,
Non-cyclical
:
14.7%
2,695,000 
(1)
Avis
Budget
Car
Rental
LLC
/
Avis
Budget
Finance,
Inc.,
8.000%,
02/15/2031
2,771,639
1.3
1,940,000 
(1)
Concentra
Escrow
Issuer
Corp.,
6.875%,
07/15/2032
2,031,285
1.0
2,520,000 
(1)
DaVita,
Inc.,
6.750%,
07/15/2033
2,614,936
1.2
1,855,000 
(1)
EquipmentShare.
com,
Inc.,
8.625%,
05/15/2032
1,961,703
0.9
2,085,000 
(1)
Genmab
A/S/Genmab
Finance
LLC,
7.250%,
12/15/2033
2,191,860
1.0
PORTFOLIO
OF
INVESTMENTS
as
of
December
31,
2025
(Unaudited)
(continued)
2
Voya
High
Yield
Bond
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Consumer,
Non-cyclical:
(continued)
1,530,000 
(1)
Global
Medical
Response,
Inc.,
7.375%,
10/01/2032
$
1,593,310
0.7
2,460,000 
(1)
Herc
Holdings,
Inc.,
7.250%,
06/15/2033
2,609,996
1.2
1,890,000 
(1)
Insulet
Corp.,
6.500%,
04/01/2033
1,977,350
0.9
1,615,000 
(1)
Medline
Borrower
L.P.,
5.250%,
10/01/2029
1,624,684
0.8
2,515,000 
(1)
Performance
Food
Group,
Inc.,
6.125%,
09/15/2032
2,595,877
1.2
2,605,000 
(1)
Post
Holdings,
Inc.,
6.375%,
03/01/2033
2,633,603
1.2
2,155,000 
(1)
Shift4
Payments
LLC
/
Shift4
Payments
Finance
Sub,
Inc.,
6.750%,
08/15/2032
2,226,303
1.0
2,130,000 
(1)
Tenet
Healthcare
Corp.,
6.000%,
11/15/2033
2,194,366
1.0
2,600,000 
(1)
Williams
Scotsman,
Inc.,
6.625%,
04/15/2030
2,696,470
1.3
31,723,382
14.7
Energy
:
7.9%
2,030,000 
(1)
CITGO
Petroleum
Corp.,
8.375%,
01/15/2029
2,118,415
1.0
1,970,000 
(1)
Civitas
Resources,
Inc.,
8.750%,
07/01/2031
2,046,143
0.9
2,420,000 
(1)
CNX
Resources
Corp.,
7.375%,
01/15/2031
2,515,036
1.2
2,005,000 
(1)
Northern
Oil
and
Gas,
Inc.,
8.750%,
06/15/2031
2,026,744
0.9
1,595,000 
(1)
Permian
Resources
Operating
LLC,
6.250%,
02/01/2033
1,636,886
0.8
1,365,000 
(1)
SM
Energy
Co.,
7.000%,
08/01/2032
1,342,749
0.6
1,885,000 
(1)
Sunoco
L.P.,
6.250%,
07/01/2033
1,931,809
0.9
2,108,810 
(1)
Transocean
Titan
Financing
Ltd.,
8.375%,
02/01/2028
2,155,176
1.0
1,290,000 
(1)
Venture
Global
Plaquemines
LNG
LLC,
6.750%,
01/15/2036
1,321,941
0.6
17,094,899
7.9
Financial
:
11.6%
1,545,000 
(1)
Asurion
LLC
and
Asurion
Co-Issuer,
Inc.,
8.000%,
12/31/2032
1,603,906
0.7
4,180,000 
(1)
Iron
Mountain,
Inc.,
6.250%,
01/15/2033
4,217,690
1.9
2,920,000 
Navient
Corp.,
7.875%,
06/15/2032
3,058,528
1.4
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Financial:
(continued)
4,725,000 
OneMain
Finance
Corp.,
7.125%,
09/15/2032
$
4,914,805
2.3
2,875,000 
(1)
Panther
Escrow
Issuer
LLC,
7.125%,
06/01/2031
2,981,024
1.4
1,970,000 
(1)
PennyMac
Financial
Services,
Inc.,
6.875%,
02/15/2033
2,057,966
1.0
605,000 
(1)
PennyMac
Financial
Services,
Inc.,
7.875%,
12/15/2029
644,133
0.3
2,390,000 
(1)
PRA
Group,
Inc.,
8.375%,
02/01/2028
2,450,971
1.1
3,055,000 
(1)
Rocket
Cos.,
Inc.,
6.375%,
08/01/2033
3,189,020
1.5
25,118,043
11.6
Industrial
:
18.7%
1,285,000 
(1)
AAR
Escrow
Issuer
LLC,
6.750%,
03/15/2029
1,330,431
0.6
2,160,000 
(1)
AmeriTex
HoldCo
Intermediate
LLC,
7.625%,
08/15/2033
2,280,483
1.0
2,615,000 
(1)
Axon
Enterprise,
Inc.,
6.250%,
03/15/2033
2,731,347
1.3
3,100,000 
(1)
Bombardier,
Inc.,
6.750%,
06/15/2033
3,280,532
1.5
2,440,000 
(1)
Builders
FirstSource,
Inc.,
6.375%,
06/15/2032
2,529,988
1.2
1,990,000 
(1)
Chart
Industries,
Inc.,
7.500%,
01/01/2030
2,076,556
1.0
2,890,000 
(1)
Fortress
Transportation
and
Infrastructure
Investors
LLC,
7.875%,
12/01/2030
3,084,075
1.4
1,990,000 
(1)
GFL
Environmental,
Inc.,
6.750%,
01/15/2031
2,090,340
1.0
2,245,000 
(1)
Mauser
Packaging
Solutions
Holding
Co.,
7.875%,
04/15/2030
2,229,364
1.0
1,500,000 
(1)
Owens-Brockway
Glass
Container,
Inc.,
7.250%,
05/15/2031
1,533,040
0.7
3,015,000 
(1)
Quikrete
Holdings,
Inc.,
6.750%,
03/01/2033
3,150,618
1.5
1,955,000 
(1)
Stonepeak
Nile
Parent
LLC,
7.250%,
03/15/2032
2,071,295
1.0
1,980,000 
(1)
TransDigm,
Inc.,
6.375%,
05/31/2033
2,033,078
0.9
3,015,000 
(1)
TransDigm,
Inc.,
6.750%,
01/31/2034
3,142,592
1.4
2,020,000 
(1)
Waste
Pro
USA,
Inc.,
7.000%,
02/01/2033
2,084,268
1.0
PORTFOLIO
OF
INVESTMENTS
as
of
December
31,
2025
(Unaudited)
(continued)
3
Voya
High
Yield
Bond
Fund
Principal
Amount†
Value
Percentage
of
Net
Assets
CORPORATE
BONDS/NOTES:
(continued)
Industrial:
(continued)
2,080,000 
(1)
WESCO
Distribution,
Inc.,
6.375%,
03/15/2033
$
2,172,995
1.0
2,390,000 
(1)
XPO,
Inc.,
7.125%,
06/01/2031
2,501,756
1.2
40,322,758
18.7
Technology
:
4.5%
1,540,000 
(1)
CACI
International,
Inc.,
6.375%,
06/15/2033
1,595,330
0.7
1,645,000 
(1)
Cloud
Software
Group,
Inc.,
6.500%,
03/31/2029
1,667,615
0.8
2,845,000 
(1)
McAfee
Corp.,
7.375%,
02/15/2030
2,484,091
1.1
2,445,000 
(1)
Seagate
Data
Storage
Technology
Pte
Ltd.,
8.500%,
07/15/2031
2,601,265
1.2
1,420,000 
(1)
UKG,
Inc.,
6.875%,
02/01/2031
1,460,886
0.7
9,809,187
4.5
Utilities
:
2.7%
3,025,000 
(1)
NRG
Energy,
Inc.,
6.250%,
11/01/2034
3,109,564
1.4
2,620,000 
(1)
Talen
Energy
Supply
LLC,
6.500%,
02/01/2036
2,710,952
1.3
5,820,516
2.7
Total
Corporate
Bonds/
Notes
(Cost
$201,548,352)
203,929,394
94.4
Total
Long-Term
Investments
(Cost
$201,548,352)
203,929,394
94.4
Shares
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
4.2%
Mutual
Funds
:
4.2%
9,151,079 
(2)
BlackRock
Liquidity
Funds,
FedFund,
Institutional
Class,
3.650%
(Cost
$9,151,079)
$
9,151,079
4.2
Total
Short-Term
Investments
(Cost
$9,151,079)
9,151,079
4.2
Total
Investments
in
Securities
(Cost
$210,699,431)
$
213,080,473
98.6
Assets
in
Excess
of
Other
Liabilities
3,046,835
1.4
Net
Assets
$
216,127,308
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)
Rate
shown
is
the
7-day
yield
as
of
December
31,
2025.
PORTFOLIO
OF
INVESTMENTS
as
of
December
31,
2025
(Unaudited)
(continued)
4
Voya
High
Yield
Bond
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
December
31,
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
December
31,
2025
Asset
Table
Investments,
at
fair
value
Corporate
Bonds/Notes
$
—
$
203,929,394
$
—
$
203,929,394
Short-Term
Investments
9,151,079
—
—
9,151,079
Total
Investments,
at
fair
value
$
9,151,079
$
203,929,394
$
—
$
213,080,473
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
2,810,791
Gross
Unrealized
Depreciation
(429,749)
Net
Unrealized
Appreciation
$
2,381,042