PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

1

Voya

Russell™

Large

Cap

Value

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

99.5%

Communication

Services

:

6.0%

75,418 

Activision

Blizzard,

Inc.

$

7,061,387

0.6

743,239 

AT&T,

Inc.

11,163,450

0.9

424,779 

Comcast

Corp.

-

Class

A

18,834,701

1.5

55,281 

(1)

T-Mobile

US,

Inc.

7,742,104

0.6

436,885 

Verizon

Communications,

Inc.

14,159,443

1.2

189,845 

(1)

Walt

Disney

Co.

15,386,937

1.2

74,348,022

6.0

Consumer

Discretionary

:

2.6%

310 

(1)

AutoZone,

Inc.

787,397

0.1

407,267 

Ford

Motor

Co.

5,058,256

0.4

142,462 

General

Motors

Co.

4,696,972

0.4

2,329 

Las

Vegas

Sands

Corp.

106,762

0.0

16,254 

Lowe's

Cos.,

Inc.

3,378,231

0.3

44,443 

McDonald's

Corp.

11,708,064

0.9

57,650 

NIKE,

Inc.

-

Class

B

5,512,493

0.4

945 

(1)

O'Reilly

Automotive,

Inc.

858,873

0.1

32,107,048

2.6

Consumer

Staples

:

10.7%

185,421 

Altria

Group,

Inc.

7,796,953

0.6

55,405 

Archer-Daniels-Midland

Co.

4,178,645

0.3

203,782 

Coca-Cola

Co.

11,407,716

0.9

85,188 

Colgate-Palmolive

Co.

6,057,719

0.5

15,042 

Constellation

Brands,

Inc.

-

Class

A

3,780,506

0.3

16,344 

Estee

Lauder

Cos.,

Inc.

-

Class

A

2,362,525

0.2

60,964 

General

Mills,

Inc.

3,901,086

0.3

3,934 

Hershey

Co.

787,115

0.1

119,007 

Kenvue,

Inc.

2,389,661

0.2

98,908 

Keurig

Dr

Pepper,

Inc.

3,122,526

0.3

2,058 

Kimberly-Clark

Corp.

248,709

0.0

83,357 

Kraft

Heinz

Co.

2,804,129

0.2

141,171 

Mondelez

International,

Inc.

-

Class

A

9,797,267

0.8

44,193 

PepsiCo,

Inc.

7,488,062

0.6

161,108 

Philip

Morris

International,

Inc.

14,915,379

1.2

198,459 

Procter

&

Gamble

Co.

28,947,230

2.3

148,182 

Walmart,

Inc.

23,698,747

1.9

133,683,975

10.7

Energy

:

11.0%

183,687 

Chevron

Corp.

30,973,302

2.5

125,875 

ConocoPhillips

15,079,825

1.2

61,005 

EOG

Resources,

Inc.

7,732,994

0.6

415,858 

Exxon

Mobil

Corp.

48,896,584

3.9

203,520 

Kinder

Morgan,

Inc.

3,374,362

0.3

44,012 

Marathon

Petroleum

Corp.

6,660,776

0.5

72,395 

Occidental

Petroleum

Corp.

4,696,987

0.4

24,156 

Pioneer

Natural

Resources

Co.

5,545,010

0.5

147,892 

Schlumberger

NV

8,622,103

0.7

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Energy:

(continued)

36,541 

Valero

Energy

Corp.

$

5,178,225

0.4

136,760,168

11.0

Financials

:

22.5%

41,273 

American

Express

Co.

6,157,519

0.5

75,104 

American

International

Group,

Inc.

4,551,302

0.4

20,986 

Aon

PLC

-

Class

A

6,804,081

0.5

723,121 

Bank

of

America

Corp.

19,799,053

1.6

190,105 

(1)

Berkshire

Hathaway,

Inc.

-

Class

B

66,593,781

5.4

15,431 

BlackRock,

Inc.

9,975,987

0.8

39,338 

Capital

One

Financial

Corp.

3,817,753

0.3

153,860 

Charles

Schwab

Corp.

8,446,914

0.7

42,788 

Chubb

Ltd.

8,907,606

0.7

201,906 

Citigroup,

Inc.

8,304,394

0.7

37,270 

CME

Group,

Inc.

7,462,199

0.6

45,764 

(1)

Fiserv,

Inc.

5,169,501

0.4

33,517 

Goldman

Sachs

Group,

Inc.

10,845,096

0.9

58,758 

Intercontinental

Exchange,

Inc.

6,464,555

0.5

299,676 

JPMorgan

Chase

&

Co.

43,459,014

3.5

10,225 

Marsh

&

McLennan

Cos.,

Inc.

1,945,818

0.2

67,122 

MetLife,

Inc.

4,222,645

0.3

1,446 

Moody's

Corp.

457,182

0.0

124,811 

Morgan

Stanley

10,193,314

0.8

41,336 

PNC

Financial

Services

Group,

Inc.

5,074,821

0.4

15,228 

Progressive

Corp.

2,121,260

0.2

30,539 

S&P

Global,

Inc.

11,159,256

0.9

23,924 

Travelers

Cos.,

Inc.

3,907,028

0.3

137,655 

Truist

Financial

Corp.

3,938,310

0.3

159,064 

US

Bancorp

5,258,656

0.4

381,003 

Wells

Fargo

&

Co.

15,567,783

1.2

280,604,828

22.5

Health

Care

:

19.9%

168,389 

Abbott

Laboratories

16,308,475

1.3

17,746 

Amgen,

Inc.

4,769,415

0.4

29,419 

Becton

Dickinson

and

Co.

7,605,694

0.6

149,046 

(1)

Boston

Scientific

Corp.

7,869,629

0.6

218,235 

Bristol-Myers

Squibb

Co.

12,666,359

1.0

56,138 

(1)

Centene

Corp.

3,866,785

0.3

28,065 

Cigna

Group

8,028,555

0.6

132,930 

CVS

Health

Corp.

9,281,173

0.7

68,327 

Danaher

Corp.

16,951,929

1.4

21,337 

Elevance

Health,

Inc.

9,290,557

0.8

37,385 

GE

HealthCare

Technologies,

Inc.

2,543,675

0.2

129,753 

Gilead

Sciences,

Inc.

9,723,690

0.8

16,830 

HCA

Healthcare,

Inc.

4,139,843

0.3

7,339 

Humana,

Inc.

3,570,570

0.3

250,197 

Johnson

&

Johnson

38,968,183

3.1

8,711 

McKesson

Corp.

3,787,978

0.3

137,889 

Medtronic

PLC

10,804,982

0.9

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

2

Voya

Russell™

Large

Cap

Value

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

215,177 

Merck

&

Co.,

Inc.

$

22,152,472

1.8

34,495 

(1)

Moderna,

Inc.

3,562,989

0.3

586,591 

Pfizer,

Inc.

19,457,224

1.6

10,024 

(1)

Regeneron

Pharmaceuticals,

Inc.

8,249,351

0.7

27,511 

Stryker

Corp.

7,517,931

0.6

15,379 

Thermo

Fisher

Scientific,

Inc.

7,784,388

0.6

15,344 

UnitedHealth

Group,

Inc.

7,736,291

0.6

2,268 

(1)

Vertex

Pharmaceuticals,

Inc.

788,674

0.1

247,426,812

19.9

Industrials

:

9.9%

57,074 

3M

Co.

5,343,268

0.4

6,097 

Automatic

Data

Processing,

Inc.

1,466,816

0.1

50,015 

(1)

Boeing

Co.

9,586,875

0.8

13,403 

Caterpillar,

Inc.

3,659,019

0.3

184,871 

CSX

Corp.

5,684,783

0.5

1,821 

Deere

&

Co.

687,209

0.0

41,340 

Eaton

Corp.

PLC

8,816,995

0.7

59,239 

Emerson

Electric

Co.

5,720,710

0.5

24,070 

FedEx

Corp.

6,376,625

0.5

25,405 

General

Dynamics

Corp.

5,613,743

0.4

112,548 

General

Electric

Co.

12,442,181

1.0

60,202 

Honeywell

International,

Inc.

11,121,718

0.9

5,824 

Illinois

Tool

Works,

Inc.

1,341,326

0.1

71,298 

Johnson

Controls

International

PLC

3,793,767

0.3

19,628 

L3Harris

Technologies,

Inc.

3,417,627

0.3

23,582 

Norfolk

Southern

Corp.

4,644,003

0.4

14,012 

Northrop

Grumman

Corp.

6,167,942

0.5

151,703 

Raytheon

Technologies

Corp.

10,918,065

0.9

36,196 

Union

Pacific

Corp.

7,370,592

0.6

54,354 

United

Parcel

Service,

Inc.

-

Class

B

8,472,158

0.7

4,253 

Waste

Management,

Inc.

648,327

0.0

123,293,749

9.9

Information

Technology

:

8.8%

71,720 

(1)

Advanced

Micro

Devices,

Inc.

7,374,250

0.6

52,480 

Analog

Devices,

Inc.

9,188,723

0.7

13,583 

Applied

Materials,

Inc.

1,880,566

0.2

425,678 

Cisco

Systems,

Inc.

22,884,449

1.9

433,398 

Intel

Corp.

15,407,299

1.2

94,328 

International

Business

Machines

Corp.

13,234,218

1.1

736 

Lam

Research

Corp.

461,303

0.0

113,453 

Micron

Technology,

Inc.

7,718,208

0.6

1,368 

Motorola

Solutions,

Inc.

372,424

0.0

92,974 

Oracle

Corp.

9,847,806

0.8

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

10,930 

(1)

PayPal

Holdings,

Inc.

$

638,968

0.1

14,825 

Qualcomm,

Inc.

1,646,465

0.1

10,970 

Roper

Technologies,

Inc.

5,312,552

0.4

24,173 

(1)

Salesforce,

Inc.

4,901,801

0.4

55,789 

Texas

Instruments,

Inc.

8,871,009

0.7

109,740,041

8.8

Materials

:

3.1%

23,021 

Air

Products

and

Chemicals,

Inc.

6,524,152

0.5

73,440 

Dow,

Inc.

3,786,566

0.3

5,710 

Ecolab,

Inc.

967,274

0.1

148,269 

Freeport-McMoRan,

Inc.

5,528,951

0.4

46,141 

Linde

PLC

17,180,601

1.4

82,574 

Newmont

Corp.

3,051,109

0.3

4,113 

Sherwin-Williams

Co.

1,049,021

0.1

38,087,674

3.1

Real

Estate

:

1.6%

40,142 

Crown

Castle,

Inc.

3,694,268

0.3

4,825 

Equinix,

Inc.

3,504,205

0.3

95,772 

Prologis,

Inc.

10,746,576

0.9

6,813 

Public

Storage

1,795,362

0.1

19,740,411

1.6

Utilities

:

3.4%

53,456 

American

Electric

Power

Co.,

Inc.

4,020,960

0.3

86,753 

Dominion

Energy,

Inc.

3,875,256

0.3

80,016 

Duke

Energy

Corp.

7,062,212

0.6

103,164 

Exelon

Corp.

3,898,568

0.3

210,158 

NextEra

Energy,

Inc.

12,039,952

1.0

65,389 

Sempra

Energy

4,448,414

0.3

113,118 

Southern

Co.

7,320,997

0.6

42,666,359

3.4

Total

Common

Stock

(Cost

$1,052,001,127)

1,238,459,087

99.5

EXCHANGE-TRADED

FUNDS

:

0.2%

33,671 

iShares

Russell

Top

200

Value

ETF

2,201,073

0.2

Total

Exchange-Traded

Funds

(Cost

$2,277,748)

2,201,073

0.2

Total

Long-Term

Investments

(Cost

$1,054,278,875)

1,240,660,160

99.7

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

3

Voya

Russell™

Large

Cap

Value

Index

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

0.2%

Mutual

Funds

:

0.2%

2,015,000 

(2)

Morgan

Stanley

Institutional

Liquidity

Funds

-

Government

Portfolio

(Institutional

Share

Class),

5.270%

(Cost

$2,015,000)

$

2,015,000

0.2

Total

Short-Term

Investments

(Cost

$2,015,000)

$

2,015,000

0.2

Total

Investments

in

Securities

(Cost

$1,056,293,875)

$

1,242,675,160

99.9

Assets

in

Excess

of

Other

Liabilities

1,567,388

0.1

Net

Assets

$

1,244,242,548

100.0

(1)

Non-income

producing

security.

(2)

Rate

shown

is

the

7-day

yield

as

of

September

30,

2023.

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

4

Voya

Russell™

Large

Cap

Value

Index

Portfolio

Fair

Value

Measurements

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

as

of

September

30,

2023

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,

2023

Asset

Table

Investments,

at

fair

value

Common

Stock*

$

1,238,459,087

$

—

$

—

$

1,238,459,087

Exchange-Traded

Funds

2,201,073

—

—

2,201,073

Short-Term

Investments

2,015,000

—

—

2,015,000

Total

Investments,

at

fair

value

$

1,242,675,160

$

—

$

—

$

1,242,675,160

Liabilities

Table

Other

Financial

Instruments+

Futures

$

(180,612)

$

—

$

—

$

(180,612)

Total

Liabilities

$

(180,612)

$

—

$

—

$

(180,612)

*

For

further

breakdown

of

Common

Stock

by

sector,

please

refer

to

the

Portfolio

of

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.

At

September

30,

2023,

the

following

futures

contracts

were

outstanding

for

Voya

Russell™

Large

Cap

Value

Index

Portfolio:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Depreciation

Long

Contracts:

S&P

500

E-Mini

19

12/15/23

$

4,109,225

$

(180,612)

$

4,109,225

$

(180,612)

Net

unrealized

appreciation

consisted

of:

Gross

Unrealized

Appreciation

$

237,154,947

Gross

Unrealized

Depreciation

(50,773,663)

Net

Unrealized

Appreciation

$

186,381,284