PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

1

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

95

.8

%

Australia

:

7

.8

%

20,009 

Ampol

Ltd.

$

431,997

0.0

253,312 

ANZ

Group

Holdings

Ltd.

4,154,741

0

.3

106,145 

APA

Group

564,674

0.0

49,554 

Aristocrat

Leisure

Ltd.

1,294,671

0

.1

16,255 

ASX

Ltd.

594,576

0

.1

154,553 

Aurizon

Holdings

Ltd.

345,568

0.0

426,991 

BHP

Group

Ltd.

-

Class

DI

11,994,539

0

.9

38,697 

BlueScope

Steel

Ltd.

479,205

0.0

117,103 

Brambles

Ltd.

1,075,772

0

.1

5,523 

Cochlear

Ltd.

904,575

0

.1

112,811 

Coles

Group

Ltd.

1,125,951

0

.1

141,282 

Commonwealth

Bank

of

Australia

9,024,543

0

.7

48,343 

Computershare

Ltd.

805,614

0

.1

40,658 

CSL

Ltd.

6,550,131

0

.5

90,309 

Dexus

420,975

0.0

12,870 

EBOS

Group

Ltd.

263,652

0.0

120,302 

Endeavour

Group

Ltd./

Australia

406,173

0.0

142,737 

Fortescue

Metals

Group

Ltd.

1,897,411

0

.2

887,765 

Glencore

PLC

5,055,419

0

.4

142,906 

Goodman

Group

1,958,647

0

.2

160,839 

GPT

Group

400,526

0.0

21,033 

IDP

Education

Ltd.

287,841

0.0

57,225 

IGO

Ltd.

459,233

0.0

205,704 

Insurance

Australia

Group

Ltd.

746,202

0

.1

57,878 

Lendlease

Corp.

Ltd.

265,430

0.0

186,884 

(1)

Lottery

Corp.

Ltd.

564,766

0.0

30,947 

Macquarie

Group

Ltd.

3,314,058

0

.3

231,237 

Medibank

Pvt

Ltd.

510,371

0.0

14,753 

(1)

Mineral

Resources

Ltd.

633,520

0

.1

331,310 

Mirvac

Group

450,313

0.0

264,625 

(1)

National

Australia

Bank

Ltd.

4,912,595

0

.4

75,374 

Newcrest

Mining

Ltd.

1,187,634

0

.1

96,949 

Northern

Star

Resources

Ltd.

643,766

0

.1

38,393 

Orica

Ltd.

382,806

0.0

145,208 

Origin

Energy

Ltd.

817,658

0

.1

227,442 

(1)

Pilbara

Minerals

Ltd.

620,505

0

.1

71,222 

(2)

Qantas

Airways

Ltd.

235,780

0.0

125,766 

QBE

Insurance

Group

Ltd.

1,259,829

0

.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Australia:

(continued)

15,394 

Ramsay

Health

Care

Ltd.

$

510,934

0.0

4,437 

REA

Group

Ltd.

438,209

0.0

18,984 

(1)

Reece

Ltd.

225,973

0.0

31,289 

Rio

Tinto

Ltd.

2,256,811

0

.2

94,899 

Rio

Tinto

PLC

5,958,981

0

.5

273,750 

Santos

Ltd.

1,379,982

0

.1

437,490 

Scentre

Group

687,457

0

.1

30,025 

(1)

SEEK

Ltd.

424,166

0.0

37,699 

Sonic

Healthcare

Ltd.

719,861

0

.1

382,989 

South32

Ltd.

-

Class

DI

826,953

0

.1

200,436 

Stockland

501,645

0.0

106,755 

Suncorp

Group

Ltd.

951,149

0

.1

340,867 

Telstra

Group

Ltd.

842,161

0

.1

259,655 

Transurban

Group

2,109,869

0

.2

60,609 

Treasury

Wine

Estates

Ltd.

478,608

0.0

324,893 

Vicinity

Ltd.

352,104

0.0

19,700 

Washington

H

Soul

Pattinson

&

Co.

Ltd.

410,955

0.0

95,627 

(1)

Wesfarmers

Ltd.

3,236,401

0

.3

295,775 

Westpac

Banking

Corp.

3,998,158

0

.3

13,932 

WiseTech

Global

Ltd.

578,323

0.0

160,043 

Woodside

Energy

Group

Ltd.

3,721,175

0

.3

102,723 

Woolworths

Group

Ltd.

2,459,314

0

.2

Austria

:

0

.2

%

28,982 

Erste

Group

Bank

AG

1,000,948

0

.1

40,927 

Mondi

PLC

682,743

0

.1

12,366 

OMV

AG

590,657

0.0

5,717 

Verbund

AG

465,087

0.0

9,745 

voestalpine

AG

265,311

0.0

Belgium

:

0

.8

%

13,541 

Ageas

SA

557,706

0

.1

73,213 

Anheuser-Busch

InBev

SA

4,058,649

0

.3

1,826 

(1)

D'ieteren

Group

307,852

0.0

2,469 

Elia

Group

SA

241,619

0.0

8,037 

Groupe

Bruxelles

Lambert

NV

598,035

0

.1

21,098 

KBC

Group

NV

1,313,490

0

.1

34 

Lotus

Bakeries

NV

276,429

0.0

1,294 

Sofina

SA

261,536

0.0

6,247 

Solvay

SA

690,352

0

.1

10,657 

UCB

SA

872,907

0

.1

17,585 

(1)

Umicore

SA

416,353

0.0

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

2

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Belgium:

(continued)

13,966 

Warehouses

De

Pauw

CVA

$

345,152

0.0

Brazil

:

0.0

%

13,902 

Yara

International

ASA

524,935

0.0

Burkina

Faso

:

0.0

%

15,587 

Endeavour

Mining

PLC

300,892

0.0

Chile

:

0.0

%

33,111 

Antofagasta

PLC

574,803

0.0

China

:

0

.5

%

312,000 

BOC

Hong

Kong

Holdings

Ltd.

851,720

0

.1

144,600 

(3)

Budweiser

Brewing

Co.

APAC

Ltd.

284,170

0.0

184,600 

(1)(3)

ESR

Group

Ltd.

258,065

0.0

128,847 

(2)

Prosus

NV

3,796,610

0

.3

113,000 

SITC

International

Holdings

Co.

Ltd.

189,592

0.0

700,000 

(3)

WH

Group

Ltd.

366,393

0.0

161,300 

Wilmar

International

Ltd.

438,944

0

.1

139,000 

(1)

Xinyi

Glass

Holdings

Ltd.

179,112

0.0

Denmark

:

3

.2

%

260 

AP

Moller

-

Maersk

A/S

-

Class

A

460,122

0.0

409 

AP

Moller

-

Maersk

A/S

-

Class

B

735,748

0

.1

8,300 

Carlsberg

AS

-

Class

B

1,046,506

0

.1

8,857 

(1)

Chr

Hansen

Holding

A/S

541,809

0.0

11,513 

Coloplast

A/S

-

Class

B

1,218,271

0

.1

58,138 

Danske

Bank

A/S

1,349,150

0

.1

8,494 

(2)

Demant

A/S

350,728

0.0

15,690 

(1)

DSV

A/S

2,923,686

0

.2

5,566 

(2)

Genmab

A/S

1,970,646

0

.2

275,066 

(1)

Novo

Nordisk

A/S

-

Class

B

25,045,107

2

.0

17,240 

(1)

Novozymes

A/S

-

Class

B

693,649

0

.1

15,945 

(1)(3)

Orsted

AS

867,459

0

.1

7,127 

Pandora

A/S

735,444

0

.1

767 

(1)

Rockwool

A/S

-

Class

B

185,373

0.0

29,430 

Tryg

A/S

538,551

0.0

85,120 

(1)(2)

Vestas

Wind

Systems

A/S

1,821,048

0

.1

Finland

:

1

.1

%

11,943 

Elisa

Oyj

553,835

0

.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Finland:

(continued)

37,669 

(1)

Fortum

Oyj

$

436,849

0.0

22,933 

Kesko

Oyj

-

Class

B

410,873

0.0

28,649 

Kone

Oyj

-

Class

B

1,207,271

0

.1

55,683 

Metso

Oyj

583,940

0

.1

35,660 

Neste

Oyj

1,207,755

0

.1

451,002 

Nokia

Oyj

1,695,802

0

.1

272,406 

Nordea

Bank

Abp

2,986,587

0

.2

9,076 

Orion

Oyj

-

Class

B

356,558

0.0

38,763 

Sampo

Oyj

-

Class

A

1,675,783

0

.1

48,847 

(1)

Stora

Enso

Oyj

-

Class

R

612,218

0

.1

44,988 

UPM-Kymmene

Oyj

1,540,428

0

.1

39,747 

(1)

Wartsila

Oyj

Abp

450,490

0

.1

France

:

10

.7

%

15,629 

Accor

SA

525,673

0.0

24,469 

(2)

Adevinta

ASA

241,062

0.0

2,493 

Aeroports

de

Paris

294,002

0.0

44,146 

Air

Liquide

SA

7,435,581

0

.6

49,966 

Airbus

SE

6,687,874

0

.5

24,140 

(1)

Alstom

SA

573,740

0

.1

5,135 

(3)

Amundi

SA

288,417

0.0

5,060 

Arkema

SA

498,110

0.0

154,687 

AXA

SA

4,589,389

0

.4

3,478 

BioMerieux

336,464

0.0

88,434 

BNP

Paribas

SA

5,623,189

0

.4

62,188 

(1)

Bollore

SE

333,776

0.0

16,071 

Bouygues

SA

561,916

0

.1

24,860 

Bureau

Veritas

SA

616,431

0

.1

13,899 

Capgemini

SE

2,425,289

0

.2

50,362 

Carrefour

SA

864,973

0

.1

38,988 

Cie

de

Saint-Gobain

2,333,448

0

.2

57,182 

Cie

Generale

des

Etablissements

Michelin

SCA

1,750,168

0

.1

4,257 

Covivio

SA/France

188,826

0.0

102,020 

Credit

Agricole

SA

1,254,317

0

.1

54,272 

Danone

SA

2,993,522

0

.2

1,739 

Dassault

Aviation

SA

327,541

0.0

56,472 

Dassault

Systemes

SE

2,097,507

0

.2

21,037 

Edenred

1,315,991

0

.1

6,171 

Eiffage

SA

585,737

0

.1

153,950 

Engie

SA

2,361,004

0

.2

24,852 

EssilorLuxottica

SA

4,322,896

0

.3

3,659 

Eurazeo

SE

217,729

0.0

3,860 

Gecina

SA

393,558

0.0

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

3

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

France:

(continued)

30,017 

Getlink

SE

$

478,528

0.0

2,669 

Hermes

International

4,865,129

0

.4

3,167 

Ipsen

SA

414,946

0.0

6,275 

Kering

SA

2,851,129

0

.2

18,064 

Klepierre

SA

442,308

0.0

8,820 

(3)

La

Francaise

des

Jeux

SAEM

286,471

0.0

22,490 

Legrand

SA

2,066,523

0

.2

20,329 

L'Oreal

SA

8,424,584

0

.7

23,274 

LVMH

Moet

Hennessy

Louis

Vuitton

SE

17,567,930

1

.4

156,949 

Orange

SA

1,800,247

0

.1

17,237 

Pernod

Ricard

SA

2,869,788

0

.2

19,292 

Publicis

Groupe

SA

1,460,263

0

.1

1,919 

(1)

Remy

Cointreau

SA

233,958

0.0

16,139 

Renault

SA

660,351

0

.1

28,811 

Safran

SA

4,514,950

0

.4

95,764 

Sanofi

10,282,686

0

.8

2,322 

Sartorius

Stedim

Biotech

552,412

0

.1

2,091 

SEB

SA

195,063

0.0

61,311 

Societe

Generale

SA

1,483,580

0

.1

7,457 

Sodexo

SA

767,680

0

.1

4,983 

Teleperformance

625,648

0

.1

8,859 

Thales

SA

1,245,072

0

.1

189,518 

(1)

TotalEnergies

SE

12,460,688

1

.0

9,962 

(2)

Unibail-Rodamco-

Westfield

489,886

0.0

17,379 

Valeo

298,223

0.0

57,284 

Veolia

Environnement

SA

1,655,861

0

.1

44,797 

Vinci

SA

4,955,939

0

.4

57,076 

Vivendi

SE

499,878

0.0

2,237 

Wendel

SE

176,823

0.0

20,249 

(2)(3)

Worldline

SA/France

568,415

0

.1

Germany

:

7

.5

%

13,655 

adidas

AG

2,395,206

0

.2

33,995 

Allianz

SE

8,090,003

0

.6

75,342 

BASF

SE

3,410,352

0

.3

82,807 

Bayer

AG

3,976,758

0

.3

25,371 

Bayerische

Motoren

Werke

AG

2,576,861

0

.2

6,877 

Bechtle

AG

320,264

0.0

8,496 

Beiersdorf

AG

1,095,892

0

.1

12,371 

Brenntag

SE

957,227

0

.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Germany:

(continued)

3,379 

Carl

Zeiss

Meditec

AG

-

Class

BR

$

294,557

0.0

89,726 

Commerzbank

AG

1,018,332

0

.1

9,272 

Continental

AG

651,470

0

.1

16,285 

(2)(3)

Covestro

AG

875,725

0

.1

41,619 

Daimler

Truck

Holding

AG

1,441,027

0

.1

163,371 

Deutsche

Bank

AG

1,795,492

0

.1

16,015 

Deutsche

Boerse

AG

2,765,739

0

.2

50,189 

(2)

Deutsche

Lufthansa

AG

397,166

0.0

83,551 

Deutsche

Post

AG,

Reg

3,390,127

0

.3

273,196 

Deutsche

Telekom

AG,

Reg

5,730,780

0

.5

189,238 

E.ON

SE

2,237,931

0

.2

17,607 

Evonik

Industries

AG

321,155

0.0

17,312 

Fresenius

Medical

Care

AG

&

Co.

KGaA

744,277

0

.1

35,606 

Fresenius

SE

&

Co.

KGaA

1,105,931

0

.1

12,931 

GEA

Group

AG

476,564

0.0

5,082 

Hannover

Rueck

SE

1,115,086

0

.1

12,207 

Heidelberg

Materials

AG

945,437

0

.1

13,078 

(2)

HelloFresh

SE

388,606

0.0

8,725 

Henkel

AG

&

Co.

KGaA

550,126

0.0

110,074 

Infineon

Technologies

AG

3,645,734

0

.3

6,091 

Knorr-Bremse

AG

386,153

0.0

6,223 

(2)

LEG

Immobilien

SE

427,939

0.0

67,631 

Mercedes-Benz

Group

AG

4,706,900

0

.4

10,894 

Merck

KGaA

1,816,110

0

.1

4,537 

MTU

Aero

Engines

AG

821,694

0

.1

11,503 

Muenchener

Rueckversicherungs-

Gesellschaft

AG

in

Muenchen

4,479,876

0

.4

4,849 

Nemetschek

SE

295,103

0.0

8,865 

Puma

SE

548,144

0.0

430 

Rational

AG

272,062

0.0

3,672 

Rheinmetall

AG

944,628

0

.1

53,293 

RWE

AG

1,978,226

0

.2

88,017 

SAP

SE

11,393,100

0

.9

6,297 

(3)

Scout24

SE

436,625

0.0

64,059 

Siemens

AG,

Reg

9,154,592

0

.7

43,624 

(2)

Siemens

Energy

AG

568,539

0

.1

23,769 

(3)

Siemens

Healthineers

AG

1,202,281

0

.1

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

4

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Germany:

(continued)

11,192 

Symrise

AG

$

1,065,466

0

.1

5,318 

Talanx

AG

336,576

0.0

74,927 

Telefonica

Deutschland

Holding

AG

134,012

0.0

2,478 

Volkswagen

AG

325,430

0.0

61,799 

Vonovia

SE

1,480,599

0

.1

1,533 

Wacker

Chemie

AG

218,911

0.0

18,810 

(2)(3)

Zalando

SE

417,927

0.0

Hong

Kong

:

1

.9

%

973,600 

AIA

Group

Ltd.

7,873,646

0

.6

166,500 

CK

Asset

Holdings

Ltd.

874,557

0

.1

226,000 

CK

Hutchison

Holdings

Ltd.

1,199,854

0

.1

50,000 

CK

Infrastructure

Holdings

Ltd.

235,918

0.0

3,000 

CK

Infrastructure

Holdings

Ltd.

14,155

0.0

138,500 

CLP

Holdings

Ltd.

1,022,668

0

.1

4,619 

(2)

Futu

Holdings

Ltd.,

ADR

267,024

0.0

151,000 

Hang

Lung

Properties

Ltd.

206,592

0.0

64,500 

Hang

Seng

Bank

Ltd.

800,283

0

.1

122,000 

Henderson

Land

Development

Co.

Ltd.

320,367

0.0

318,000 

HKT

Trust

&

HKT

Ltd.

-

Stapled

Security

331,601

0.0

944,000 

(1)

Hong

Kong

&

China

Gas

Co.

Ltd.

656,823

0

.1

101,500 

Hong

Kong

Exchanges

&

Clearing

Ltd.

3,766,946

0

.3

93,100 

Hongkong

Land

Holdings

Ltd.

332,023

0.0

13,400 

Jardine

Matheson

Holdings

Ltd.

625,110

0

.1

213,200 

Link

REIT

1,042,449

0

.1

131,000 

MTR

Corp.

Ltd.

517,504

0.0

127,000 

New

World

Development

Co.

Ltd.

246,240

0.0

116,500 

Power

Assets

Holdings

Ltd.

562,637

0

.1

308,000 

Sino

Land

Co.

Ltd.

346,388

0.0

122,000 

Sun

Hung

Kai

Properties

Ltd.

1,301,735

0

.1

36,500 

Swire

Pacific

Ltd.

-

Class

A

245,846

0.0

98,200 

Swire

Properties

Ltd.

204,229

0.0

116,000 

Techtronic

Industries

Co.

Ltd.

1,119,816

0

.1

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Hong

Kong:

(continued)

141,000 

(1)

Wharf

Real

Estate

Investment

Co.

Ltd.

$

543,405

0.0

Ireland

:

0

.6

%

14,712 

(2)

AerCap

Holdings

NV

922,001

0

.1

121,402 

AIB

Group

PLC

544,150

0.0

89,859 

Bank

of

Ireland

Group

PLC

878,427

0

.1

14,884 

(2)

Flutter

Entertainment

PLC

-

Class

DI

2,428,033

0

.2

13,435 

Kerry

Group

PLC

-

Class

A

1,122,554

0

.1

13,035 

Kingspan

Group

PLC

973,496

0

.1

21,928 

Smurfit

Kappa

Group

PLC

728,443

0.0

Israel

:

0

.6

%

3,563 

Azrieli

Group

Ltd.

182,899

0.0

107,081 

Bank

Hapoalim

BM

954,049

0

.1

129,624 

(1)

Bank

Leumi

Le-Israel

BM

1,074,045

0

.1

7,889 

(2)

Check

Point

Software

Technologies

Ltd.

1,051,446

0

.1

2,234 

Elbit

Systems

Ltd.

442,792

0.0

7,615 

(2)

Global-e

Online

Ltd.

302,620

0.0

64,951 

ICL

Group

Ltd.

358,406

0.0

103,864 

Israel

Discount

Bank

Ltd.

-

Class

A

562,959

0

.1

12,957 

Mizrahi

Tefahot

Bank

Ltd.

470,531

0.0

5,334 

(2)

Nice

Ltd.

909,762

0

.1

94,435 

(2)

Teva

Pharmaceutical

Industries

Ltd.,

ADR

963,237

0

.1

4,532 

(2)

Wix.com

Ltd.

416,038

0.0

Italy

:

2

.1

%

10,455 

(1)

Amplifon

SpA

309,479

0.0

85,429 

Assicurazioni

Generali

SpA

1,743,812

0

.1

18,625 

Coca-Cola

HBC

AG

-

Class

DI

509,281

0.0

43,890 

Davide

Campari-Milano

NV

516,688

0.0

1,886 

(1)

DiaSorin

SpA

171,744

0.0

685,549 

Enel

SpA

4,204,298

0

.3

199,187 

Eni

SpA

3,199,702

0

.3

10,625 

Ferrari

NV

3,132,096

0

.2

51,469 

FinecoBank

Banca

Fineco

SpA

621,502

0

.1

28,218 

(1)(3)

Infrastrutture

Wireless

Italiane

SpA

335,297

0.0

1,309,878 

Intesa

Sanpaolo

SpA

3,354,884

0

.3

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

5

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Italy:

(continued)

46,350 

(1)

Mediobanca

Banca

di

Credito

Finanziario

SpA

$

611,083

0

.1

17,361 

(1)

Moncler

SpA

1,006,157

0

.1

49,559 

(2)(3)

Nexi

SpA

301,967

0.0

43,866 

(3)

Poste

Italiane

SpA

460,651

0.0

22,135 

Prysmian

SpA

888,461

0

.1

8,779 

Recordati

Industria

Chimica

e

Farmaceutica

SpA

413,713

0.0

169,969 

Snam

SpA

797,541

0

.1

836,629 

(1)(2)

Telecom

Italia

SpA/

Milano

260,916

0.0

118,594 

Terna

-

Rete

Elettrica

Nazionale

891,998

0

.1

155,406 

UniCredit

SpA

3,702,765

0

.3

Japan

:

22

.1

%

64,800 

Advantest

Corp.

1,807,500

0

.1

55,100 

Aeon

Co.

Ltd.

1,091,427

0

.1

16,300 

AGC,

Inc.

571,273

0

.1

12,400 

Aisin

Corp.

468,534

0.0

38,000 

Ajinomoto

Co.,

Inc.

1,465,228

0

.1

13,400 

(2)

ANA

Holdings,

Inc.

280,570

0.0

40,600 

Asahi

Group

Holdings

Ltd.

1,516,595

0

.1

18,200 

Asahi

Intecc

Co.

Ltd.

326,297

0.0

105,700 

Asahi

Kasei

Corp.

665,326

0

.1

152,500 

Astellas

Pharma,

Inc.

2,110,848

0

.2

9,700 

Azbil

Corp.

296,330

0.0

50,500 

Bandai

Namco

Holdings,

Inc.

1,027,194

0

.1

11,100 

BayCurrent

Consulting,

Inc.

369,883

0.0

48,100 

Bridgestone

Corp.

1,874,359

0

.2

19,500 

Brother

Industries

Ltd.

314,107

0.0

84,300 

Canon,

Inc.

2,030,672

0

.2

14,600 

Capcom

Co.

Ltd.

525,479

0

.1

61,000 

Central

Japan

Railway

Co.

1,483,398

0

.1

44,500 

Chiba

Bank

Ltd.

323,297

0.0

54,300 

Chubu

Electric

Power

Co.,

Inc.

691,233

0

.1

56,600 

Chugai

Pharmaceutical

Co.

Ltd.

1,745,207

0

.1

89,000 

Concordia

Financial

Group

Ltd.

405,441

0.0

36,100 

CyberAgent,

Inc.

194,328

0.0

18,400 

Dai

Nippon

Printing

Co.

Ltd.

478,734

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan:

(continued)

25,500 

Daifuku

Co.

Ltd.

$

481,354

0.0

79,300 

Dai-ichi

Life

Holdings,

Inc.

1,637,094

0

.1

155,900 

Daiichi

Sankyo

Co.

Ltd.

4,268,125

0

.3

22,200 

Daikin

Industries

Ltd.

3,480,332

0

.3

5,300 

Daito

Trust

Construction

Co.

Ltd.

558,268

0

.1

50,300 

Daiwa

House

Industry

Co.

Ltd.

1,350,022

0

.1

185 

Daiwa

House

REIT

Investment

Corp.

326,404

0.0

112,000 

Daiwa

Securities

Group,

Inc.

645,855

0

.1

146,000 

Denso

Corp.

2,342,698

0

.2

17,000 

Dentsu

Group,

Inc.

499,999

0.0

7,800 

Disco

Corp.

1,441,098

0

.1

25,500 

East

Japan

Railway

Co.

1,459,287

0

.1

21,300 

Eisai

Co.

Ltd.

1,180,527

0

.1

242,900 

ENEOS

Holdings,

Inc.

956,088

0

.1

80,500 

FANUC

Corp.

2,093,598

0

.2

14,800 

Fast

Retailing

Co.

Ltd.

3,223,665

0

.3

10,700 

Fuji

Electric

Co.

Ltd.

481,882

0.0

31,500 

FUJIFILM

Holdings

Corp.

1,822,294

0

.2

14,900 

Fujitsu

Ltd.

1,752,405

0

.1

394 

GLP

J-Reit

352,161

0.0

3,600 

GMO

Payment

Gateway,

Inc.

196,429

0.0

18,100 

Hakuhodo

DY

Holdings,

Inc.

148,674

0.0

11,800 

Hamamatsu

Photonics

KK

496,234

0.0

19,300 

Hankyu

Hanshin

Holdings,

Inc.

658,528

0

.1

1,700 

Hikari

Tsushin,

Inc.

258,903

0.0

2,600 

Hirose

Electric

Co.

Ltd.

300,749

0.0

9,000 

Hitachi

Construction

Machinery

Co.

Ltd.

273,112

0.0

79,100 

Hitachi

Ltd.

4,902,427

0

.4

389,400 

Honda

Motor

Co.

Ltd.

4,380,632

0

.3

9,100 

Hoshizaki

Corp.

315,900

0.0

29,800 

Hoya

Corp.

3,052,041

0

.2

32,200 

Hulic

Co.

Ltd.

288,732

0.0

9,500 

Ibiden

Co.

Ltd.

503,884

0.0

16,300 

Idemitsu

Kosan

Co.

Ltd.

373,679

0.0

13,300 

Iida

Group

Holdings

Co.

Ltd.

220,706

0.0

81,800 

Inpex

Corp.

1,226,864

0

.1

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

6

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan:

(continued)

49,000 

Isuzu

Motors

Ltd.

$

616,009

0

.1

100,200 

ITOCHU

Corp.

3,618,616

0

.3

12,100 

Japan

Airlines

Co.

Ltd.

235,093

0.0

42,200 

Japan

Exchange

Group,

Inc.

781,810

0

.1

587 

Japan

Metropolitan

Fund

Invest

380,701

0.0

122,000 

Japan

Post

Bank

Co.

Ltd.

1,061,625

0

.1

189,600 

Japan

Post

Holdings

Co.

Ltd.

1,516,827

0

.1

16,800 

Japan

Post

Insurance

Co.

Ltd.

282,548

0.0

108 

Japan

Real

Estate

Investment

Corp.

420,848

0.0

101,100 

Japan

Tobacco,

Inc.

2,326,113

0

.2

41,300 

JFE

Holdings,

Inc.

604,810

0

.1

14,900 

JSR

Corp.

399,727

0.0

35,500 

Kajima

Corp.

577,870

0

.1

59,300 

Kansai

Electric

Power

Co.,

Inc.

820,981

0

.1

39,300 

Kao

Corp.

1,456,655

0

.1

11,600 

Kawasaki

Kisen

Kaisha

Ltd.

395,860

0.0

126,200 

KDDI

Corp.

3,863,042

0

.3

8,600 

Keio

Corp.

295,652

0.0

10,900 

Keisei

Electric

Railway

Co.

Ltd.

377,558

0.0

16,400 

Keyence

Corp.

6,065,145

0

.5

11,400 

Kikkoman

Corp.

597,506

0

.1

15,200 

Kintetsu

Group

Holdings

Co.

Ltd.

430,961

0.0

65,500 

Kirin

Holdings

Co.

Ltd.

917,029

0

.1

4,300 

Kobayashi

Pharmaceutical

Co.

Ltd.

191,784

0.0

12,600 

Kobe

Bussan

Co.

Ltd.

294,984

0.0

9,900 

Koei

Tecmo

Holdings

Co.

Ltd.

140,655

0.0

17,600 

Koito

Manufacturing

Co.

Ltd.

265,403

0.0

77,900 

Komatsu

Ltd.

2,101,052

0

.2

8,500 

Konami

Group

Corp.

448,158

0.0

2,800 

Kose

Corp.

202,950

0.0

85,300 

Kubota

Corp.

1,254,833

0

.1

8,800 

Kurita

Water

Industries

Ltd.

306,230

0.0

27,100 

Kyocera

Corp.

1,373,909

0

.1

22,700 

Kyowa

Kirin

Co.

Ltd.

394,682

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan:

(continued)

6,400 

Lasertec

Corp.

$

995,280

0

.1

24,100 

Lixil

Corp.

280,083

0.0

37,100 

M3,

Inc.

672,947

0

.1

18,800 

Makita

Corp.

463,593

0.0

121,700 

Marubeni

Corp.

1,897,090

0

.2

28,800 

MatsukiyoCocokara

&

Co.

515,895

0.0

47,700 

Mazda

Motor

Corp.

541,609

0

.1

7,300 

(1)

McDonald's

Holdings

Co.

Japan

Ltd.

278,928

0.0

19,800 

MEIJI

Holdings

Co.

Ltd.

492,111

0.0

30,500 

MINEBEA

MITSUMI,

Inc.

496,939

0.0

23,900 

MISUMI

Group,

Inc.

372,182

0.0

107,500 

Mitsubishi

Chemical

Group

Corp.

677,258

0

.1

96,900 

Mitsubishi

Corp.

4,617,318

0

.4

162,900 

Mitsubishi

Electric

Corp.

2,012,543

0

.2

94,900 

Mitsubishi

Estate

Co.

Ltd.

1,238,067

0

.1

68,000 

Mitsubishi

HC

Capital,

Inc.

453,089

0.0

27,000 

Mitsubishi

Heavy

Industries

Ltd.

1,505,977

0

.1

962,500 

Mitsubishi

UFJ

Financial

Group,

Inc.

8,156,375

0

.6

110,700 

Mitsui

&

Co.

Ltd.

4,015,083

0

.3

14,300 

Mitsui

Chemicals,

Inc.

370,486

0.0

75,000 

Mitsui

Fudosan

Co.

Ltd.

1,651,801

0

.1

28,900 

Mitsui

OSK

Lines

Ltd.

794,145

0

.1

203,300 

Mizuho

Financial

Group,

Inc.

3,451,618

0

.3

21,000 

MonotaRO

Co.

Ltd.

223,885

0.0

36,100 

MS&AD

Insurance

Group

Holdings,

Inc.

1,321,055

0

.1

145,200 

Murata

Manufacturing

Co.

Ltd.

2,648,762

0

.2

20,700 

NEC

Corp.

1,143,109

0

.1

28,800 

Nexon

Co.

Ltd.

514,617

0.0

19,600 

NGK

Insulators

Ltd.

259,770

0.0

35,200 

NIDEC

Corp.

1,625,305

0

.1

87,600 

Nintendo

Co.

Ltd.

3,640,040

0

.3

129 

Nippon

Building

Fund,

Inc.

522,390

0

.1

6,100 

Nippon

Express

Holdings,

Inc.

318,297

0.0

79,600 

Nippon

Paint

Holdings

Co.

Ltd.

534,604

0

.1

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

7

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan:

(continued)

191 

Nippon

Prologis

REIT,

Inc.

$

356,591

0.0

14,500 

Nippon

Sanso

Holdings

Corp.

343,309

0.0

72,100 

Nippon

Steel

Corp.

1,689,169

0

.1

2,518,700 

Nippon

Telegraph

&

Telephone

Corp.

2,981,223

0

.2

40,900 

Nippon

Yusen

KK

1,061,962

0

.1

10,700 

Nissan

Chemical

Corp.

454,851

0.0

195,700 

Nissan

Motor

Co.

Ltd.

863,672

0

.1

5,200 

Nissin

Foods

Holdings

Co.

Ltd.

432,083

0.0

6,800 

Nitori

Holdings

Co.

Ltd.

758,169

0

.1

12,000 

Nitto

Denko

Corp.

786,905

0

.1

253,300 

Nomura

Holdings,

Inc.

1,014,322

0

.1

9,200 

Nomura

Real

Estate

Holdings,

Inc.

230,971

0.0

356 

Nomura

Real

Estate

Master

Fund,

Inc.

398,722

0.0

32,500 

Nomura

Research

Institute

Ltd.

844,731

0

.1

53,200 

NTT

Data

Group

Corp.

711,888

0

.1

54,500 

Obayashi

Corp.

479,593

0.0

5,900 

Obic

Co.

Ltd.

893,971

0

.1

26,400 

Odakyu

Electric

Railway

Co.

Ltd.

394,463

0.0

72,400 

Oji

Holdings

Corp.

304,603

0.0

106,700 

Olympus

Corp.

1,385,338

0

.1

14,800 

Omron

Corp.

658,622

0

.1

32,600 

Ono

Pharmaceutical

Co.

Ltd.

625,215

0

.1

6,600 

Open

House

Group

Co.

Ltd.

223,787

0.0

3,300 

Oracle

Corp.

Japan

244,448

0.0

92,000 

Oriental

Land

Co.

Ltd./

Japan

3,018,304

0

.2

98,900 

ORIX

Corp.

1,846,701

0

.2

31,500 

Osaka

Gas

Co.

Ltd.

518,329

0.0

9,600 

Otsuka

Corp.

406,162

0.0

32,900 

Otsuka

Holdings

Co.

Ltd.

1,168,118

0

.1

32,000 

Pan

Pacific

International

Holdings

Corp.

671,583

0

.1

186,200 

Panasonic

Holdings

Corp.

2,101,783

0

.2

157,000 

Persol

Holdings

Co.

Ltd.

255,002

0.0

125,400 

Rakuten

Group,

Inc.

515,243

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan:

(continued)

121,500 

Recruit

Holdings

Co.

Ltd.

$

3,717,296

0

.3

107,300 

(2)

Renesas

Electronics

Corp.

1,639,003

0

.1

180,400 

Resona

Holdings,

Inc.

997,464

0

.1

46,100 

Ricoh

Co.

Ltd.

397,749

0.0

29,600 

Rohm

Co.

Ltd.

556,458

0

.1

20,600 

SBI

Holdings,

Inc.

433,544

0.0

13,100 

SCSK

Corp.

228,396

0.0

17,700 

Secom

Co.

Ltd.

1,200,782

0

.1

24,200 

(1)

Seiko

Epson

Corp.

380,051

0.0

32,400 

Sekisui

Chemical

Co.

Ltd.

466,137

0.0

50,300 

Sekisui

House

Ltd.

1,001,042

0

.1

63,500 

Seven

&

i

Holdings

Co.

Ltd.

2,486,038

0

.2

26,900 

SG

Holdings

Co.

Ltd.

344,370

0.0

21,900 

(2)

Sharp

Corp./Japan

136,342

0.0

19,900 

Shimadzu

Corp.

527,853

0

.1

6,500 

Shimano,

Inc.

869,990

0

.1

47,000 

Shimizu

Corp.

326,476

0.0

153,500 

Shin-Etsu

Chemical

Co.

Ltd.

4,458,507

0

.4

22,000 

Shionogi

&

Co.

Ltd.

981,298

0

.1

33,700 

Shiseido

Co.

Ltd.

1,180,988

0

.1

39,500 

Shizuoka

Financial

Group,

Inc.

321,904

0.0

4,800 

SMC

Corp.

2,151,659

0

.2

242,200 

SoftBank

Corp.

2,741,292

0

.2

86,700 

SoftBank

Group

Corp.

3,652,284

0

.3

24,900 

Sompo

Holdings,

Inc.

1,067,134

0

.1

106,300 

Sony

Group

Corp.

8,692,745

0

.7

7,200 

Square

Enix

Holdings

Co.

Ltd.

246,711

0.0

51,900 

Subaru

Corp.

1,009,169

0

.1

29,400 

SUMCO

Corp.

382,582

0.0

118,200 

Sumitomo

Chemical

Co.

Ltd.

321,494

0.0

88,100 

Sumitomo

Corp.

1,758,294

0

.1

60,200 

Sumitomo

Electric

Industries

Ltd.

725,225

0

.1

20,800 

Sumitomo

Metal

Mining

Co.

Ltd.

610,816

0

.1

107,100 

Sumitomo

Mitsui

Financial

Group,

Inc.

5,261,400

0

.4

27,800 

Sumitomo

Mitsui

Trust

Holdings,

Inc.

1,046,588

0

.1

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

8

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan:

(continued)

24,000 

Sumitomo

Realty

&

Development

Co.

Ltd.

$

623,077

0

.1

11,700 

Suntory

Beverage

&

Food

Ltd.

356,065

0.0

31,000 

Suzuki

Motor

Corp.

1,246,851

0

.1

14,100 

Sysmex

Corp.

669,992

0

.1

42,200 

T&D

Holdings,

Inc.

693,979

0

.1

14,300 

Taisei

Corp.

503,303

0.0

133,400 

Takeda

Pharmaceutical

Co.

Ltd.

4,134,935

0

.3

32,800 

TDK

Corp.

1,212,625

0

.1

56,700 

Terumo

Corp.

1,500,897

0

.1

18,500 

TIS,

Inc.

406,800

0.0

15,900 

Tobu

Railway

Co.

Ltd.

408,655

0.0

9,400 

Toho

Co.

Ltd./Tokyo

320,687

0.0

151,900 

Tokio

Marine

Holdings,

Inc.

3,517,047

0

.3

128,200 

(2)

Tokyo

Electric

Power

Co.

Holdings,

Inc.

571,856

0

.1

39,800 

Tokyo

Electron

Ltd.

5,436,372

0

.4

32,900 

Tokyo

Gas

Co.

Ltd.

745,930

0

.1

42,100 

Tokyu

Corp.

485,394

0.0

20,800 

TOPPAN,

Inc.

497,564

0.0

116,900 

Toray

Industries,

Inc.

608,238

0

.1

21,800 

Tosoh

Corp.

279,500

0.0

11,100 

TOTO

Ltd.

286,434

0.0

12,400 

Toyota

Industries

Corp.

976,072

0

.1

893,900 

Toyota

Motor

Corp.

16,036,860

1

.3

17,900 

Toyota

Tsusho

Corp.

1,052,807

0

.1

11,300 

Trend

Micro,

Inc./Japan

427,743

0.0

34,000 

Unicharm

Corp.

1,202,163

0

.1

17,300 

USS

Co.

Ltd.

285,992

0.0

7,900 

Welcia

Holdings

Co.

Ltd.

136,425

0.0

18,500 

West

Japan

Railway

Co.

765,545

0

.1

21,600 

Yakult

Honsha

Co.

Ltd.

524,598

0

.1

11,800 

Yamaha

Corp.

322,277

0.0

25,000 

Yamaha

Motor

Co.

Ltd.

657,175

0

.1

22,400 

Yamato

Holdings

Co.

Ltd.

364,588

0.0

20,200 

Yaskawa

Electric

Corp.

727,423

0

.1

19,200 

Yokogawa

Electric

Corp.

370,574

0.0

225,200 

Z

Holdings

Corp.

624,730

0

.1

7,800 

Zensho

Holdings

Co.

Ltd.

338,712

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Japan:

(continued)

11,800 

ZOZO,

Inc.

$

216,072

0.0

Jordan

:

0.0

%

13,898 

Hikma

Pharmaceuticals

PLC

352,917

0.0

Luxembourg

:

0

.1

%

43,129 

ArcelorMittal

SA

1,079,780

0

.1

11,376 

(1)

Eurofins

Scientific

SE

641,119

0.0

Macao

:

0

.1

%

184,000 

Galaxy

Entertainment

Group

Ltd.

1,100,986

0

.1

204,000 

(1)(2)

Sands

China

Ltd.

620,360

0.0

Netherlands

:

5

.3

%

33,912 

(3)

ABN

AMRO

Bank

NV

479,263

0.0

1,830 

(2)(3)

Adyen

NV

1,356,825

0

.1

142,241 

(1)

Aegon

Ltd.

685,561

0

.1

14,379 

Akzo

Nobel

NV

1,036,704

0

.1

4,716 

(1)(2)

Argenx

SE

2,305,311

0

.2

3,958 

ASM

International,

N.V.

1,652,832

0

.1

33,980 

ASML

Holding

NV

20,005,739

1

.6

13,473 

ASR

Nederland

NV

504,121

0.0

6,498 

BE

Semiconductor

Industries

NV

635,546

0

.1

7,194 

(3)

Euronext

NV

500,409

0.0

9,141 

EXOR

NV

808,509

0

.1

43,123 

(1)

Ferrovial

SE

1,317,710

0

.1

10,925 

Heineken

Holding

NV

823,322

0

.1

24,275 

Heineken

NV

2,140,121

0

.2

4,785 

(1)

IMCD

NV

604,990

0.0

305,084 

ING

Groep

NV

4,021,028

0

.3

10,553 

(1)

JDE

Peet's

NV

294,772

0.0

81,922 

Koninklijke

Ahold

Delhaize

NV

2,469,104

0

.2

272,240 

Koninklijke

KPN

NV

896,940

0

.1

78,275 

(2)

Koninklijke

Philips,

N.V.

1,561,763

0

.1

21,135 

NN

Group

NV

677,550

0

.1

8,858 

OCI

NV

246,315

0.0

9,268 

(1)

Randstad

NV

512,021

0.0

565,101 

Shell

PLC

17,910,545

1

.4

69,061 

(1)

Universal

Music

Group

NV

1,802,229

0

.1

21,706 

Wolters

Kluwer

NV

2,628,065

0

.2

New

Zealand

:

0

.2

%

105,114 

Auckland

International

Airport

Ltd.

498,332

0.0

48,647 

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

627,211

0

.1

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

9

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

New

Zealand:

(continued)

58,220 

Mercury

NZ

Ltd.

$

212,732

0.0

108,446 

Meridian

Energy

Ltd.

333,512

0.0

157,127 

Spark

New

Zealand

Ltd.

452,345

0.0

12,122 

(2)

Xero

Ltd.

871,788

0

.1

Norway

:

0

.6

%

26,636 

Aker

BP

ASA

735,475

0

.1

78,105 

DNB

Bank

ASA

1,569,268

0

.1

75,938 

Equinor

ASA

2,488,644

0

.2

16,793 

Gjensidige

Forsikring

ASA

246,412

0.0

7,444 

Kongsberg

Gruppen

ASA

306,794

0.0

36,952 

Mowi

ASA

653,137

0.0

112,919 

Norsk

Hydro

ASA

706,629

0

.1

63,063 

Orkla

ASA

471,014

0.0

6,093 

Salmar

ASA

308,601

0.0

58,752 

Telenor

ASA

666,285

0

.1

Portugal

:

0

.2

%

264,499 

EDP

-

Energias

de

Portugal

SA

1,099,773

0

.1

41,316 

Galp

Energia

SGPS

SA

611,978

0

.1

23,777 

Jeronimo

Martins

SGPS

SA

533,989

0.0

Singapore

:

1

.4

%

314,600 

CapitaLand

Ascendas

REIT

630,986

0

.1

448,500 

CapitaLand

Integrated

Commercial

Trust

605,258

0

.1

218,400 

CapitaLand

Investment

Ltd./Singapore

493,487

0.0

42,000 

City

Developments

Ltd.

202,687

0.0

152,700 

DBS

Group

Holdings

Ltd.

3,750,259

0

.3

507,700 

Genting

Singapore

Ltd.

313,423

0.0

157,920 

(2)

Grab

Holdings

Ltd.

-

Class

A

559,037

0

.1

8,300 

Jardine

Cycle

&

Carriage

Ltd.

193,508

0.0

122,300 

Keppel

Corp.

Ltd.

607,321

0

.1

290,200 

Mapletree

Logistics

Trust

355,767

0.0

198,000 

Mapletree

Pan

Asia

Commercial

Trust

206,641

0.0

285,400 

Oversea-Chinese

Banking

Corp.

Ltd.

2,669,076

0

.2

30,754 

(2)

Sea

Ltd.,

ADR

1,351,638

0

.1

3,738,531 

(2)

Seatrium

Ltd.

365,556

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Singapore:

(continued)

75,300 

Sembcorp

Industries

Ltd.

$

279,882

0.0

125,500 

Singapore

Airlines

Ltd.

592,011

0

.1

72,000 

Singapore

Exchange

Ltd.

512,209

0.0

131,100 

Singapore

Technologies

Engineering

Ltd.

374,140

0.0

696,000 

Singapore

Telecommunications

Ltd.

1,231,987

0

.1

106,600 

United

Overseas

Bank

Ltd.

2,220,277

0

.2

39,000 

UOL

Group

Ltd.

182,425

0.0

South

Africa

:

0

.2

%

107,106 

Anglo

American

PLC

2,941,107

0

.2

South

Korea

:

0.0

%

14,765 

(2)(3)

Delivery

Hero

SE

421,592

0.0

Spain

:

2

.5

%

2,073 

Acciona

SA

264,007

0.0

18,464 

ACS

Actividades

de

Construccion

y

Servicios

SA

663,775

0

.1

6,322 

(3)

Aena

SME

SA

951,319

0

.1

37,972 

Amadeus

IT

Group

SA

2,293,611

0

.2

502,822 

Banco

Bilbao

Vizcaya

Argentaria

SA

4,069,303

0

.3

1,364,140 

Banco

Santander

SA

5,194,739

0

.4

347,790 

CaixaBank

SA

1,385,593

0

.1

47,638 

(3)

Cellnex

Telecom

SA

1,656,945

0

.1

5,529 

Corp

ACCIONA

Energias

Renovables

SA

142,414

0.0

25,893 

EDP

Renovaveis

SA

424,061

0.0

20,898 

Enagas

SA

346,061

0.0

26,669 

Endesa

SA

542,753

0

.1

25,046 

(2)

Grifols

SA

324,393

0.0

513,742 

Iberdrola

SA

5,745,921

0

.5

91,944 

Industria

de

Diseno

Textil

SA

3,421,425

0

.3

10,584 

Naturgy

Energy

Group

SA

287,940

0.0

34,073 

Red

Electrica

Corp.

SA

536,014

0

.1

107,670 

Repsol

SA

1,771,066

0

.1

436,420 

Telefonica

SA

1,782,926

0

.1

Sweden

:

2

.8

%

24,325 

Alfa

Laval

AB

833,323

0

.1

84,482 

Assa

Abloy

AB

-

Class

B

1,835,673

0

.2

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

10

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Sweden:

(continued)

226,404 

Atlas

Copco

AB

-

Class

A

$

3,040,759

0

.3

131,564 

Atlas

Copco

AB

-

Class

B

1,538,648

0

.1

32,318 

(1)

Beijer

Ref

AB

340,026

0.0

22,965 

Boliden

AB

659,023

0

.1

55,547 

Epiroc

AB

-

Class

A

1,054,685

0

.1

32,744 

Epiroc

AB

-

Class

B

523,816

0

.1

29,859 

(1)

EQT

AB

588,311

0

.1

51,342 

Essity

AB

-

Class

B

1,107,306

0

.1

15,447 

(3)

Evolution

AB

1,558,746

0

.1

54,742 

(1)(2)

Fastighets

AB

Balder

245,398

0.0

19,206 

Getinge

AB

-

Class

B

337,495

0.0

55,190 

(1)

H

&

M

Hennes

&

Mauritz

AB

-

Class

B

782,606

0

.1

174,999 

Hexagon

AB

-

Class

B

1,489,371

0

.1

7,877 

Holmen

AB

-

Class

B

306,181

0.0

29,474 

(1)

Husqvarna

AB

-

Class

B

224,921

0.0

10,930 

Industrivarden

AB

-

Class

A

288,215

0.0

12,964 

(1)

Industrivarden

AB

-

Class

C

341,616

0.0

22,942 

Indutrade

AB

423,712

0.0

12,432 

Investment

AB

Latour

-

Class

B

218,503

0.0

145,890 

Investor

AB

-

Class

B

2,792,993

0

.2

6,381 

L

E

Lundbergforetagen

AB

-

Class

B

266,064

0.0

19,573 

Lifco

AB

-

Class

B

342,397

0.0

127,739 

(1)

Nibe

Industrier

AB

-

Class

B

835,125

0

.1

6,724 

Saab

AB

-

Class

B

342,222

0.0

16,626 

Sagax

AB

-

Class

B

315,818

0.0

89,871 

Sandvik

AB

1,653,658

0

.1

41,294 

(1)

Securitas

AB

-

Class

B

326,517

0.0

133,755 

Skandinaviska

Enskilda

Banken

AB

-

Class

A

1,594,608

0

.1

28,567 

Skanska

AB

-

Class

B

469,086

0

.1

28,611 

SKF

AB

-

Class

B

474,987

0

.1

51,068 

(1)

Svenska

Cellulosa

AB

SCA

-

Class

B

699,229

0

.1

122,942 

Svenska

Handelsbanken

AB

-

Class

A

1,093,925

0

.1

71,561 

Swedbank

AB

-

Class

A

1,315,392

0

.1

16,495 

(1)(2)

Swedish

Orphan

Biovitrum

AB

337,038

0.0

44,856 

(1)

Tele2

AB

-

Class

B

343,036

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Sweden:

(continued)

246,820 

(1)

Telefonaktiebolaget

LM

Ericsson

-

Class

B

$

1,202,448

0

.1

198,859 

(1)

Telia

Co.

AB

410,186

0.0

16,813 

Volvo

AB

-

Class

A

349,149

0.0

127,195 

Volvo

AB

-

Class

B

2,619,917

0

.2

50,034 

(1)(2)

Volvo

Car

AB

-

Class

B

202,379

0.0

Switzerland

:

9

.6

%

134,837 

ABB

Ltd.,

Reg

4,812,766

0

.4

13,435 

(1)

Adecco

Group

AG

551,818

0.0

42,119 

Alcon,

Inc.

3,250,216

0

.3

2,834 

(1)

Bachem

Holding

AG

209,033

0.0

3,846 

Baloise

Holding

AG,

Reg

556,810

0.0

2,529 

(1)

Banque

Cantonale

Vaudoise

264,640

0.0

300 

Barry

Callebaut

AG

477,073

0.0

1,773 

BKW

AG

312,122

0.0

9 

Chocoladefabriken

Lindt

&

Spruengli

AG

985,462

0

.1

81 

Chocoladefabriken

Lindt

&

Spruengli

AG

-

Class

PC

900,116

0

.1

43,999 

Cie

Financiere

Richemont

SA

5,358,342

0

.4

18,116 

Clariant

AG

285,628

0.0

15,675 

DSM-Firmenich

AG

1,324,582

0

.1

8,276 

(2)

Dufry

AG,

Reg

314,206

0.0

589 

(1)

EMS-Chemie

Holding

AG

399,135

0.0

2,818 

(1)

Geberit

AG,

Reg

1,405,274

0

.1

778 

Givaudan

SA,

Reg

2,533,039

0

.2

3,117 

Helvetia

Holding

AG

435,409

0.0

43,932 

Holcim

AG

2,812,039

0

.2

17,364 

Julius

Baer

Group

Ltd.

1,111,433

0

.1

4,580 

Kuehne

+

Nagel

International

AG

1,301,319

0

.1

13,861 

Logitech

International

SA

953,615

0

.1

6,277 

Lonza

Group

AG

2,903,408

0

.2

225,051 

Nestle

SA

25,474,878

2

.0

172,769 

Novartis

AG,

Reg

17,644,663

1

.4

1,913 

Partners

Group

Holding

AG

2,147,525

0

.2

59,218 

(1)

Roche

Holding

AG

16,166,580

1

.3

3,432 

Schindler

Holding

AG

683,654

0

.1

1,971 

Schindler

Holding

AG

(SCHN)

379,238

0.0

12,635 

SGS

SA

1,060,401

0

.1

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

11

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Switzerland:

(continued)

25,777 

SIG

Group

AG

$

635,027

0

.1

12,336 

Sika

AG,

Reg

3,125,461

0

.2

4,382 

Sonova

Holding

AG,

Reg

1,037,117

0

.1

57,608 

STMicroelectronics

NV

2,484,234

0

.2

9,408 

Straumann

Holding

AG

1,197,440

0

.1

4,418 

Swatch

Group

AG

215,771

0.0

2,430 

Swatch

Group

AG

-

Class

BR

622,377

0

.1

2,488 

Swiss

Life

Holding

AG

1,547,981

0

.1

6,442 

(1)

Swiss

Prime

Site

AG

589,757

0.0

2,183 

Swisscom

AG,

Reg

1,296,244

0

.1

5,355 

Temenos

AG

374,530

0.0

277,224 

UBS

Group

AG

6,828,635

0

.5

2,276 

(1)(3)

VAT

Group

AG

812,176

0

.1

12,682 

Zurich

Insurance

Group

AG

5,802,721

0

.5

United

Kingdom

:

11

.7

%

82,040 

3i

Group

PLC

2,065,013

0

.2

168,087 

abrdn

PLC

317,584

0.0

17,823 

Admiral

Group

PLC

515,082

0.0

36,936 

Ashtead

Group

PLC

2,239,910

0

.2

29,461 

Associated

British

Foods

PLC

740,178

0

.1

130,637 

AstraZeneca

PLC

17,621,013

1

.4

77,130 

(3)

Auto

Trader

Group

PLC

579,556

0.0

230,805 

Aviva

PLC

1,092,444

0

.1

256,941 

BAE

Systems

PLC

3,122,326

0

.2

1,311,175 

Barclays

PLC

2,527,211

0

.2

82,637 

Barratt

Developments

PLC

443,072

0.0

9,043 

Berkeley

Group

Holdings

PLC

451,606

0.0

1,462,559 

BP

PLC

9,427,617

0

.7

179,075 

British

American

Tobacco

PLC

5,622,756

0

.4

544,294 

BT

Group

PLC

772,936

0

.1

28,485 

Bunzl

PLC

1,014,465

0

.1

31,756 

Burberry

Group

PLC

735,947

0

.1

469,020 

Centrica

PLC

882,191

0

.1

86,253 

CNH

Industrial

NV

1,047,081

0

.1

17,404 

Coca-Cola

Europacific

Partners

PLC

1,087,402

0

.1

146,511 

Compass

Group

PLC

3,566,333

0

.3

11,770 

Croda

International

PLC

703,045

0

.1

8,291 

DCC

PLC

464,213

0.0

189,399 

Diageo

PLC

6,982,828

0

.5

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

United

Kingdom:

(continued)

53,837 

Entain

PLC

$

610,613

0

.1

345,162 

GSK

PLC

6,245,329

0

.5

32,000 

Halma

PLC

753,948

0

.1

29,869 

Hargreaves

Lansdown

PLC

280,919

0.0

1,666,186 

HSBC

Holdings

PLC

13,038,631

1

.0

72,772 

Imperial

Brands

PLC

1,476,293

0

.1

117,969 

Informa

PLC

1,077,238

0

.1

14,188 

InterContinental

Hotels

Group

PLC

1,049,271

0

.1

13,604 

Intertek

Group

PLC

680,327

0

.1

139,638 

(1)

J

Sainsbury

PLC

430,022

0.0

217,598 

JD

Sports

Fashion

PLC

395,275

0.0

15,403 

Johnson

Matthey

PLC

304,940

0.0

162,789 

Kingfisher

PLC

441,912

0.0

59,150 

Land

Securities

Group

PLC

423,992

0.0

503,862 

Legal

&

General

Group

PLC

1,359,597

0

.1

5,428,321 

Lloyds

Banking

Group

PLC

2,917,166

0

.2

35,782 

London

Stock

Exchange

Group

PLC

3,586,306

0

.3

188,273 

M&G

PLC

451,089

0.0

113,914 

Melrose

Industries

PLC

649,359

0

.1

310,356 

National

Grid

PLC

3,711,679

0

.3

489,904 

NatWest

Group

PLC

1,401,407

0

.1

10,251 

Next

PLC

909,183

0

.1

48,576 

(2)

Ocado

Group

PLC

353,193

0.0

54,116 

Pearson

PLC

570,969

0.0

26,818 

Persimmon

PLC

351,224

0.0

63,002 

Phoenix

Group

Holdings

PLC

369,230

0.0

232,065 

Prudential

PLC

2,494,560

0

.2

60,478 

Reckitt

Benckiser

Group

PLC

4,264,979

0

.3

159,773 

RELX

PLC

5,390,763

0

.4

212,411 

Rentokil

Initial

PLC

1,577,079

0

.1

709,432 

(2)

Rolls-Royce

Holdings

PLC

1,900,853

0

.2

86,401 

Sage

Group

PLC

1,039,748

0

.1

67,678 

Schroders

PLC

334,417

0.0

98,066 

Segro

PLC

857,498

0

.1

21,263 

Severn

Trent

PLC

613,555

0

.1

73,616 

Smith

&

Nephew

PLC

913,622

0

.1

29,575 

Smiths

Group

PLC

582,275

0

.1

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

12

Voya

VACS

Index

Series

I

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

United

Kingdom:

(continued)

6,218 

Spirax-Sarco

Engineering

PLC

$

719,758

0

.1

91,904 

SSE

PLC

1,800,993

0

.1

46,021 

St

James's

Place

PLC

464,307

0.0

199,925 

Standard

Chartered

PLC

1,838,828

0

.1

296,559 

Taylor

Wimpey

PLC

422,949

0.0

604,219 

Tesco

PLC

1,943,474

0

.2

212,094 

Unilever

PLC

10,491,675

0

.8

57,475 

United

Utilities

Group

PLC

664,128

0

.1

1,938,220 

Vodafone

Group

PLC

1,816,899

0

.1

16,968 

Whitbread

PLC

714,237

0

.1

51,622 

(2)

Wise

PLC

-

Class

A

430,497

0.0

90,597 

WPP

PLC

807,162

0

.1

United

States

:

2

.0

%

61,162 

CRH

PLC

3,347,396

0

.3

3,520 

(2)

CyberArk

Software

Ltd.

576,470

0.0

77,548 

Experian

PLC

2,536,422

0

.2

467,022 

Haleon

PLC

1,935,860

0

.1

37,117 

(2)

James

Hardie

Industries

PLC

970,731

0

.1

1,831 

(2)

Monday.com

Ltd.

291,532

0.0

19,221 

(1)(2)

QIAGEN

NV

775,559

0

.1

2,698 

Roche

Holding

AG

-

Class

BR

792,637

0

.1

45,869 

Schneider

Electric

SE

7,558,853

0

.6

186,481 

Stellantis

NV

3,570,819

0

.3

25,423 

Swiss

Re

AG

2,610,952

0

.2

39,649 

Tenaris

SA

626,294

0.0

Total

Common

Stock

(Cost

$1,283,214,299)

1,232,764,829

95

.8

PREFERRED

STOCK

:

0

.4

%

Germany

:

0

.4

%

4,988 

Bayerische

Motoren

Werke

AG

464,286

0.0

9,598 

(3)

Dr

Ing

hc

F

Porsche

AG

900,553

0

.1

14,266 

Henkel

AG

&

Co.

KGaA

1,015,875

0

.1

12,907 

Porsche

Automobil

Holding

SE

634,888

0.0

2,209 

(1)

Sartorius

AG

748,175

0

.1

17,381 

Volkswagen

AG

1,997,066

0

.1

Total

Preferred

Stock

(Cost

$6,923,659)

5,760,843

0

.4

Total

Long-Term

Investments

(Cost

$1,290,137,958)

1,238,525,672

96

.2

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

6

.6

%

Repurchase

Agreements

:

3

.7

%

11,048,995 

(4)

Cantor

Fitzgerald,

Repurchase

Agreement

dated

09/29/2023,

5.320%,

due

10/02/2023

(Repurchase

Amount

$11,053,826,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

1.500%-

7.500%,

Market

Value

plus

accrued

interest

$11,269,975,

due

05/01/25-03/15/65)

$

11,048,995

0

.9

7,917,545 

(4)

CF

Secured

LLC,

Repurchase

Agreement

dated

09/29/2023,

5.320%,

due

10/02/2023

(Repurchase

Amount

$7,921,007,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.000%-

7.166%,

Market

Value

plus

accrued

interest

$8,075,897,

due

11/15/23-08/20/72)

7,917,545

0

.6

2,534,393 

(4)

HSBC

Securities

USA

Inc.,

Repurchase

Agreement

dated

09/29/2023,

5.290%,

due

10/02/2023

(Repurchase

Amount

$2,535,495,

collateralized

by

various

U.S.

Government

Securities,

0.000%-

4.375%,

Market

Value

plus

accrued

interest

$2,585,081,

due

02/29/24-02/15/53)

2,534,393

0

.2

10,810,709 

(4)

Industrial

&

Comm.

Bank

of

China,

Repurchase

Agreement

dated

09/29/2023,

5.330%,

due

10/02/2023

(Repurchase

Amount

$10,815,445,

collateralized

by

various

U.S.

Government

Securities,

0.000%-

7.500%,

Market

Value

plus

accrued

interest

$11,026,923,

due

10/31/23-02/15/53)

10,810,709

0

.8

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

13

Voya

VACS

Index

Series

I

Portfolio

Principal

Amount†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

11,048,995 

(4)

Mirae

Asset

Securities

USA

Inc.,

Repurchase

Agreement

dated

09/29/2023,

5.370%,

due

10/02/2023

(Repurchase

Amount

$11,053,872,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

1.500%-

7.449%,

Market

Value

plus

accrued

interest

$11,275,018,

due

02/15/25-04/20/71)

$

11,048,995

0

.9

3,812,939 

(4)

Santander

US

Capital

Markets

LLC,

Repurchase

Agreement

dated

09/29/2023,

5.330%,

due

10/02/2023

(Repurchase

Amount

$3,814,609,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.000%-

5.972%,

Market

Value

plus

accrued

interest

$3,889,198,

due

10/01/27-06/01/62)

3,812,939

0

.3

Total

Repurchase

Agreements

(Cost

$47,173,576)

47,173,576

3

.7

Shares

RA

Value

Percentage

of

Net

Assets

Mutual

Funds

:

2

.9

%

37,457,000 

(5)

Morgan

Stanley

Institutional

Liquidity

Funds

-

Government

Portfolio

(Institutional

Share

Class),

5.270%

(Cost

$37,457,000)

$

37,457,000

2

.9

Total

Short-Term

Investments

(Cost

$84,630,576)

84,630,576

6

.6

Total

Investments

in

Securities

(Cost

$1,374,768,534)

$

1,323,156,248

102

.8

Liabilities

in

Excess

of

Other

Assets

(

36,331,101

)

(2.8)

Net

Assets

$

1,286,825,147

100.0

ADR

American

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)

All

or

a

portion

of

the

security

represents

securities

purchased

with

cash

collateral

received

for

securities

on

loan.

(5)

Rate

shown

is

the

7-day

yield

as

of

September

30,

2023.

Sector

Diversification

Percentage

of

Net

Assets

Financials

18

.4

%

Industrials

15

.3

Health

Care

12

.8

Consumer

Discretionary

11

.6

Consumer

Staples

9

.4

Information

Technology

7

.5

Materials

7

.2

Energy

4

.6

Communication

Services

4

.0

Utilities

3

.2

Real

Estate

2

.2

Short-Term

Investments

6

.6

Liabilities

in

Excess

of

Other

Assets

(

2

.8

)

Net

Assets

100

.0

%

Portfolio

holdings

are

subject

to

change

daily.

PORTFOLIO

OF

INVESTMENTS

as

ofSeptember

30,

2023

(Unaudited)

(continued)

14

Voya

VACS

Index

Series

I

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

Australia

$

—

$

100,110,856

$

—

$

100,110,856

Austria

—

3,004,746

—

3,004,746

Belgium

276,429

9,663,651

—

9,940,080

Brazil

—

524,935

—

524,935

Burkina

Faso

—

300,892

—

300,892

Chile

—

574,803

—

574,803

China

—

6,364,606

—

6,364,606

Denmark

—

40,483,297

—

40,483,297

Finland

—

13,718,389

—

13,718,389

France

—

137,233,089

—

137,233,089

Germany

—

96,124,718

—

96,124,718

Hong

Kong

892,134

23,765,682

—

24,657,816

Ireland

922,001

6,675,103

—

7,597,104

Israel

2,733,341

4,955,443

—

7,688,784

Italy

—

27,434,035

—

27,434,035

Japan

278,928

283,949,730

—

284,228,658

Jordan

—

352,917

—

352,917

Luxembourg

—

1,720,899

—

1,720,899

Macao

—

1,721,346

—

1,721,346

Netherlands

294,772

67,582,523

—

67,877,295

New

Zealand

498,332

2,497,588

—

2,995,920

Norway

—

8,152,259

—

8,152,259

Portugal

—

2,245,740

—

2,245,740

Singapore

1,910,675

15,786,900

—

17,697,575

South

Africa

—

2,941,107

—

2,941,107

South

Korea

—

421,592

—

421,592

Spain

—

31,804,266

—

31,804,266

Sweden

—

35,724,508

—

35,724,508

Switzerland

—

123,583,895

—

123,583,895

United

Kingdom

1,700,957

148,244,220

—

149,945,177

United

States

4,215,398

21,378,127

—

25,593,525

Total

Common

Stock

13,722,967

1,219,041,862

—

1,232,764,829

Preferred

Stock

—

5,760,843

—

5,760,843

Short-Term

Investments

37,457,000

47,173,576

—

84,630,576

Total

Investments,

at

fair

value

$

51,179,967

$

1,271,976,281

$

—

$

1,323,156,248

Liabilities

Table

Other

Financial

Instruments+

Futures

$

(

1,306,816

)

$

—

$

—

$

(

1,306,816

)

Total

Liabilities

$

(

1,306,816

)

$

—

$

—

$

(

1,306,816

)

#

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

ofSeptember

30,

2023

(Unaudited)

(continued)

15

Voya

VACS

Index

Series

I

Portfolio

At

September

30,

2023,

the

following

futures

contracts

were

outstanding

for

Voya

VACS

Index

Series

I

Portfolio:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Depreciation

Long

Contracts:

MSCI

EAFE

Index

445

12/15/23

$

45,423,375

$

(

1,306,816

)

$

45,423,375

$

(

1,306,816

)

Net

unrealized

depreciation

consisted

of:

Gross

Unrealized

Appreciation

$

52,853,195

Gross

Unrealized

Depreciation

(

104,465,481

)

Net

Unrealized

Depreciation

$

(

51,612,286

)