PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

1

Voya

VACS

Index

Series

SC

Portfolio

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

98

.0

%

Communication

Services

:

2

.4

%

14,761 

(1)

Advantage

Solutions,

Inc.

$

41,921

0.0

5,211 

(1)

AMC

Networks,

Inc.

—

Class

A

61,386

0.0

2,147 

(1)

Anterix,

Inc.

67,373

0.0

12,072 

(1)(2)

AST

SpaceMobile,

Inc.

45,874

0.0

465 

(1)

Atlanta

Braves

Holdings,

Inc.

—

Class

A

18,168

0.0

8,377 

(1)

Atlanta

Braves

Holdings,

Inc.

—

Class

C

299,310

0

.1

1,986 

ATN

International,

Inc.

62,678

0.0

3,833 

(1)

Bandwidth,

Inc.

—

Class

A

43,198

0.0

4,049 

(1)

Boston

Omaha

Corp.

—

Class

A

66,363

0.0

15,606 

(1)

Bumble,

Inc.

—

Class

A

232,841

0

.1

5,186 

(1)

Cardlytics,

Inc.

85,569

0.0

15,321 

(1)

Cargurus,

Inc.

268,424

0

.1

10,538 

(1)

Cars.com,

Inc.

177,671

0

.1

22,401 

(1)

Charge

Enterprises,

Inc.

11,138

0.0

17,000 

(1)

Cinemark

Holdings,

Inc.

311,950

0

.1

58,842 

(1)

Clear

Channel

Outdoor

Holdings,

Inc.

92,970

0.0

6,668 

Cogent

Communications

Holdings,

Inc.

412,749

0

.1

12,223 

(1)

Consolidated

Communications

Holdings,

Inc.

41,803

0.0

253 

(1)

Daily

Journal

Corp.

74,382

0.0

7,243 

(1)

DHI

Group,

Inc.

22,164

0.0

5,429 

(1)

EchoStar

Corp.

—

Class

A

90,936

0.0

10,058 

Entravision

Communications

Corp.

—

Class

A

36,712

0.0

12,142 

(1)

Eventbrite,

Inc.

—

Class

A

119,720

0.0

3,500 

(1)

EverQuote,

Inc.

—

Class

A

25,305

0.0

9,767 

(1)

EW

Scripps

Co.

—

Class

A

53,523

0.0

44,565 

(1)

fuboTV,

Inc.

118,989

0.0

24,015 

(1)

Gannett

Co.,

Inc.

58,837

0.0

108,395 

(1)

Globalstar,

Inc.

141,997

0

.1

10,400 

(1)

Gogo,

Inc.

124,072

0.0

13,637 

Gray

Television,

Inc.

94,368

0.0

6,413 

(1)

Grindr,

Inc.

36,875

0.0

2,514 

(1)

IDT

Corp.

—

Class

B

55,434

0.0

16,204 

(1)

iHeartMedia,

Inc.

—

Class

A

51,205

0.0

7,309 

(1)

IMAX

Corp.

141,210

0

.1

7,473 

(1)

Integral

Ad

Science

Holding

Corp.

88,854

0.0

6,518 

John

Wiley

&

Sons,

Inc.

—

Class

A

242,274

0

.1

27,875 

(1)

Liberty

Latin

America

Ltd.

—

Class

C

227,460

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Communication

Services:

(continued)

9,835 

(1)

Lions

Gate

Entertainment

Corp.

—

Class

A

$

83,401

0.0

17,548 

(1)

Lions

Gate

Entertainment

Corp.

—

Class

B

138,103

0

.1

155,350 

(1)

Lumen

Technologies,

Inc.

220,597

0

.1

6,740 

(1)

Madison

Square

Garden

Entertainment

Corp.

221,813

0

.1

20,823 

(1)

Magnite,

Inc.

157,005

0

.1

4,421 

Marcus

Corp.

68,525

0.0

3,673 

(1)

MediaAlpha,

Inc.

—

Class

A

30,339

0.0

22,406 

(1)

Nextdoor

Holdings,

Inc.

40,779

0.0

3,888 

(1)

Ooma,

Inc.

50,583

0.0

7,177 

(1)

Outbrain,

Inc.

34,952

0.0

14,793 

(1)

Playstudios,

Inc.

47,042

0.0

6,714 

(1)

PubMatic,

Inc.

—

Class

A

81,239

0.0

8,527 

(1)

QuinStreet,

Inc.

76,487

0.0

4,288 

Scholastic

Corp.

163,544

0

.1

7,746 

Shenandoah

Telecommunications

Co.

159,645

0

.1

3,834 

Shutterstock,

Inc.

145,884

0

.1

5,352 

Sinclair,

Inc.

60,049

0.0

4,109 

(1)

Sphere

Entertainment

Co.

152,690

0

.1

2,882 

Spok

Holdings,

Inc.

41,126

0.0

12,801 

(1)

Stagwell,

Inc.

60,037

0.0

4,122 

(1)

TechTarget,

Inc.

125,144

0

.1

31,343 

TEGNA,

Inc.

456,667

0

.1

15,303 

Telephone

and

Data

Systems,

Inc.

280,198

0

.1

5,144 

(1)

Thryv

Holdings,

Inc.

96,553

0.0

18,511 

(1)(2)

Tingo

Group,

Inc.

18,974

0.0

14,091 

(1)

TrueCar,

Inc.

29,168

0.0

24,531 

(1)

Vimeo,

Inc.

86,840

0.0

4,193 

(1)

Vivid

Seats,

Inc.

—

Class

A

26,919

0.0

8,576 

(1)

WideOpenWest,

Inc.

65,606

0.0

10,364 

(1)

Yelp,

Inc.

431,039

0

.1

7,238 

(1)

Ziff

Davis,

Inc.

460,988

0

.1

10,798 

(1)

ZipRecruiter,

Inc.

—

Class

A

129,468

0

.1

8,387,107

2

.4

Consumer

Discretionary

:

10

.3

%

4,372 

(1)

1-800-Flowers.com,

Inc.

—

Class

A

30,604

0.0

12,028 

(1)

2U,

Inc.

29,709

0.0

5,036 

Aaron's

Co.,

Inc.

52,727

0.0

7,548 

(1)

Abercrombie

&

Fitch

Co.

—

Class

A

425,481

0

.1

11,544 

Academy

Sports

&

Outdoors,

Inc.

545,685

0

.2

9,312 

(1)

Accel

Entertainment,

Inc.

101,966

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

2

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

4,956 

Acushnet

Holdings

Corp.

$

262,866

0

.1

14,598 

(1)

Adient

PLC

535,747

0

.2

6,793 

(1)

Adtalem

Global

Education,

Inc.

291,080

0

.1

14,707 

(1)

Allbirds,

Inc.

—

Class

A

16,325

0.0

17,762 

(1)

American

Axle

&

Manufacturing

Holdings,

Inc.

128,952

0.0

28,094 

American

Eagle

Outfitters,

Inc.

466,641

0

.1

954 

(1)

America's

Car-Mart,

Inc.

86,804

0.0

14,987 

(1)(2)

AMMO,

Inc.

30,274

0.0

14,376 

Arko

Corp.

102,788

0.0

3,197 

(1)

Asbury

Automotive

Group,

Inc.

735,534

0

.2

2,561 

(1)(2)

Atmus

Filtration

Technologies,

Inc.

53,397

0.0

4,961 

(1)

Bally's

Corp.

65,039

0.0

22,829 

(1)

BARK,

Inc.

27,395

0.0

4,794 

(1)

Beazer

Homes

USA,

Inc.

119,419

0.0

3,526 

Big

5

Sporting

Goods

Corp.

24,717

0.0

4,202 

Big

Lots,

Inc.

21,472

0.0

3,571 

(1)

BJ's

Restaurants,

Inc.

83,776

0.0

13,479 

Bloomin'

Brands,

Inc.

331,449

0

.1

1,903 

Bluegreen

Vacations

Holding

Corp.

69,802

0.0

4,575 

(1)

Boot

Barn

Holdings,

Inc.

371,444

0

.1

4,660 

(1)(2)

Bowlero

Corp.

—

Class

A

44,829

0.0

6,772 

(1)

Brinker

International,

Inc.

213,927

0

.1

4,940 

Buckle,

Inc.

164,947

0

.1

2,114 

Build-A-Bear

Workshop,

Inc.

62,173

0.0

5,576 

Caleres,

Inc.

160,366

0

.1

6,544 

Camping

World

Holdings,

Inc.

—

Class

A

133,563

0.0

8,281 

(1)

CarParts.com,

Inc.

34,118

0.0

2,207 

Carriage

Services,

Inc.

62,348

0.0

5,818 

(1)

Carrols

Restaurant

Group,

Inc.

38,341

0.0

14,847 

(1)

Carvana

Co.

623,277

0

.2

1,354 

(1)

Cavco

Industries,

Inc.

359,704

0

.1

5,064 

(1)

Century

Casinos,

Inc.

25,978

0.0

4,437 

Century

Communities,

Inc.

296,303

0

.1

7,501 

Cheesecake

Factory,

Inc.

227,280

0

.1

18,555 

(1)

Chegg,

Inc.

165,511

0

.1

19,546 

(1)

Chico's

FAS,

Inc.

146,204

0.0

1,928 

(1)

Children's

Place,

Inc.

52,114

0.0

3,057 

(1)

Chuy's

Holdings,

Inc.

108,768

0.0

4,586 

Clarus

Corp.

34,670

0.0

3,530 

(1)

ContextLogic,

Inc.

—

Class

A

15,567

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

2,615 

(1)

Cooper-Standard

Holdings,

Inc.

$

35,093

0.0

20,003 

(1)

Coursera,

Inc.

373,856

0

.1

3,392 

Cracker

Barrel

Old

Country

Store,

Inc.

227,942

0

.1

7,775 

Cricut,

Inc.

—

Class

A

72,230

0.0

19,808 

Dana,

Inc.

290,583

0

.1

5,557 

(1)

Dave

&

Buster's

Entertainment,

Inc.

205,998

0

.1

9,158 

(1)

Denny's

Corp.

77,568

0.0

7,954 

Designer

Brands,

Inc.

—

Class

A

100,698

0.0

10,323 

(1)

Destination

XL

Group,

Inc.

46,247

0.0

546 

(2)

Dillard's,

Inc.

—

Class

A

180,622

0

.1

2,473 

Dine

Brands

Global,

Inc.

122,290

0.0

4,106 

(1)

Dorman

Products,

Inc.

311,071

0

.1

3,975 

(1)(2)

Dream

Finders

Homes,

Inc.

—

Class

A

88,364

0.0

4,420 

(1)

Duolingo,

Inc.

733,145

0

.2

4,618 

El

Pollo

Loco

Holdings,

Inc.

41,331

0.0

3,798 

Ethan

Allen

Interiors,

Inc.

113,560

0.0

5,490 

(1)(2)

European

Wax

Center,

Inc.

—

Class

A

88,938

0.0

13,469 

(1)

Everi

Holdings,

Inc.

178,060

0

.1

16,479 

(1)(2)

EVgo,

Inc.

55,699

0.0

20,153 

(1)

Figs,

Inc.

—

Class

A

118,903

0.0

3,376 

(1)

First

Watch

Restaurant

Group,

Inc.

58,371

0.0

30,505 

(1)(2)

Fisker,

Inc.

195,842

0

.1

12,641 

(2)

Foot

Locker,

Inc.

219,321

0

.1

8,391 

(1)

Fossil

Group,

Inc.

17,285

0.0

6,567 

(1)

Fox

Factory

Holding

Corp.

650,658

0

.2

12,651 

(1)

Frontdoor,

Inc.

386,994

0

.1

5,500 

(1)

Full

House

Resorts,

Inc.

23,485

0.0

5,876 

(1)

Funko,

Inc.

—

Class

A

44,951

0.0

2,042 

(1)

Genesco,

Inc.

62,934

0.0

5,147 

(1)

Gentherm,

Inc.

279,276

0

.1

6,532 

(1)

G-III

Apparel

Group

Ltd.

162,777

0

.1

5,321 

(1)

Global

Business

Travel

Group

I

29,265

0.0

3,281 

Golden

Entertainment,

Inc.

112,145

0.0

43,210 

(1)

Goodyear

Tire

&

Rubber

Co.

537,100

0

.2

21,001 

(1)

GoPro,

Inc.

—

Class

A

65,943

0.0

556 

Graham

Holdings

Co.

—

Class

B

324,148

0

.1

4,150 

(1)

Green

Brick

Partners,

Inc.

172,266

0

.1

2,146 

Group

1

Automotive,

Inc.

576,652

0

.2

9,292 

(1)

GrowGeneration

Corp.

27,133

0.0

4,668 

(2)

Guess?,

Inc.

101,016

0.0

54,147 

Hanesbrands,

Inc.

214,422

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

3

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

2,501 

Haverty

Furniture

Cos.,

Inc.

$

71,979

0.0

3,707 

(1)

Helen

of

Troy

Ltd.

432,088

0

.1

2,034 

Hibbett,

Inc.

96,635

0.0

12,511 

(1)

Hilton

Grand

Vacations,

Inc.

509,198

0

.2

8,537 

(1)

Holley,

Inc.

42,600

0.0

795 

(1)

Hovnanian

Enterprises,

Inc.

—

Class

A

80,820

0.0

3,639 

(1)

Inspired

Entertainment,

Inc.

43,522

0.0

3,648 

Installed

Building

Products,

Inc.

455,599

0

.1

16,692 

International

Game

Technology

PLC

506,101

0

.2

4,310 

(1)

iRobot

Corp.

163,349

0

.1

3,240 

Jack

in

the

Box,

Inc.

223,754

0

.1

901 

Johnson

Outdoors,

Inc.

—

Class

A

49,276

0.0

11,159 

KB

Home

516,439

0

.2

8,654 

Kontoor

Brands,

Inc.

379,997

0

.1

13,735 

(2)

Krispy

Kreme,

Inc.

171,275

0

.1

947 

(1)

Kura

Sushi

USA,

Inc.

—

Class

A

62,616

0.0

2,703 

(1)

Lands'

End,

Inc.

20,191

0.0

6,530 

(1)

Latham

Group,

Inc.

18,284

0.0

20,324 

Laureate

Education,

Inc.

286,568

0

.1

6,867 

La-Z-Boy,

Inc.

212,053

0

.1

3,787 

LCI

Industries

444,670

0

.1

1,753 

(1)

Legacy

Housing

Corp.

34,026

0.0

27,728 

(1)

Leslie's,

Inc.

156,940

0

.1

3,193 

(1)

LGI

Homes,

Inc.

317,672

0

.1

7,046 

(1)

Life

Time

Group

Holdings,

Inc.

107,170

0.0

14,024 

(1)

Light

&

Wonder,

Inc.

1,000,332

0

.3

3,254 

(1)

Lincoln

Educational

Services

Corp.

27,496

0.0

5,381 

(1)

Lindblad

Expeditions

Holdings,

Inc.

38,743

0.0

1,868 

(1)

Livewire

Group,

Inc.

12,945

0.0

2,343 

(1)

Lovesac

Co.

46,673

0.0

42,150 

(1)(2)

Luminar

Technologies,

Inc.

191,782

0

.1

4,203 

(1)

M/I

Homes,

Inc.

353,220

0

.1

3,296 

(1)

Malibu

Boats,

Inc.

—

Class

A

161,570

0

.1

3,453 

(1)

MarineMax,

Inc.

113,327

0.0

2,862 

(1)

MasterCraft

Boat

Holdings,

Inc.

63,594

0.0

8,983 

MDC

Holdings,

Inc.

370,369

0

.1

5,612 

Meritage

Homes

Corp.

686,853

0

.2

7,973 

(1)

Modine

Manufacturing

Co.

364,765

0

.1

2,232 

Monarch

Casino

&

Resort,

Inc.

138,607

0.0

6,984 

(1)

Mondee

Holdings,

Inc.

24,933

0.0

4,932 

Monro,

Inc.

136,962

0.0

2,705 

Movado

Group,

Inc.

73,982

0.0

574 

Nathan's

Famous,

Inc.

40,559

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

12,027 

(1)

National

Vision

Holdings,

Inc.

$

194,597

0

.1

10,222 

(1)

Nerdy,

Inc.

37,821

0.0

5,226 

(1)

ODP

Corp.

241,180

0

.1

3,959 

(1)

ONE

Group

Hospitality,

Inc.

21,775

0.0

12,816 

(1)

OneSpaWorld

Holdings

Ltd.

143,796

0.0

2,077 

(1)

OneWater

Marine,

Inc.

—

Class

A

53,213

0.0

7,013 

(1)

Overstock.com,

Inc.

110,946

0.0

2,344 

Oxford

Industries,

Inc.

225,329

0

.1

5,067 

Papa

John's

International,

Inc.

345,671

0

.1

3,356 

Patrick

Industries,

Inc.

251,901

0

.1

10,701 

Perdoceo

Education

Corp.

182,987

0

.1

3,213 

PetMed

Express,

Inc.

32,933

0.0

6,421 

(1)

PlayAGS,

Inc.

41,865

0.0

6,909 

(1)

Portillo's,

Inc.

—

Class

A

106,330

0.0

4,230 

(1)

Potbelly

Corp.

32,994

0.0

9,764 

Purple

Innovation,

Inc.

16,696

0.0

1,493 

RCI

Hospitality

Holdings,

Inc.

90,565

0.0

2,493 

(1)

Red

Robin

Gourmet

Burgers,

Inc.

20,044

0.0

7,390 

Red

Rock

Resorts,

Inc.

—

Class

A

302,990

0

.1

8,556 

Rent-A-Center,

Inc.

251,974

0

.1

6,279 

(1)

Revolve

Group,

Inc.

85,457

0.0

14,365 

(1)

Rover

Group,

Inc.

89,925

0.0

9,953 

(1)

Rush

Street

Interactive,

Inc.

45,983

0.0

16,881 

(1)

Sally

Beauty

Holdings,

Inc.

141,463

0.0

3,979 

(1)

Savers

Value

Village,

Inc.

74,288

0.0

5,661 

(1)

SeaWorld

Entertainment,

Inc.

261,821

0

.1

5,800 

(1)

Shake

Shack,

Inc.

—

Class

A

336,806

0

.1

2,940 

Shoe

Carnival,

Inc.

70,648

0.0

6,867 

Signet

Jewelers

Ltd.

493,119

0

.1

11,081 

(1)

Six

Flags

Entertainment

Corp.

260,514

0

.1

8,249 

(1)

Skyline

Champion

Corp.

525,626

0

.2

3,303 

(1)

Sleep

Number

Corp.

81,221

0.0

7,717 

Smith

&

Wesson

Brands,

Inc.

99,626

0.0

3,127 

(1)

Snap

One

Holdings

Corp.

28,893

0.0

25,794 

(1)

Solid

Power,

Inc.

52,104

0.0

3,380 

(1)

Solo

Brands,

Inc.

—

Class

A

17,238

0.0

2,545 

Sonic

Automotive,

Inc.

—

Class

A

121,549

0.0

19,645 

(1)

Sonos,

Inc.

253,617

0

.1

6,636 

(1)

Sportsman's

Warehouse

Holdings,

Inc.

29,796

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

4

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Discretionary:

(continued)

3,564 

Standard

Motor

Products,

Inc.

$

119,822

0.0

11,663 

Steven

Madden

Ltd.

370,534

0

.1

12,980 

(1)

Stitch

Fix,

Inc.

—

Class

A

44,781

0.0

4,349 

(1)

Stoneridge,

Inc.

87,284

0.0

3,524 

Strategic

Education,

Inc.

265,181

0

.1

6,567 

(1)

Stride,

Inc.

295,712

0

.1

2,888 

Sturm

Ruger

&

Co.,

Inc.

150,523

0

.1

22,294 

(1)

Super

Group

SGHC

Ltd.

82,265

0.0

14,949 

(1)

Sweetgreen,

Inc.

—

Class

A

175,651

0

.1

4,845 

(1)

Target

Hospitality

Corp.

76,939

0.0

16,226 

(1)

Taylor

Morrison

Home

Corp.

691,390

0

.2

11,299 

(1)

ThredUp,

Inc.

—

Class

A

45,309

0.0

4,267 

(1)

Tilly's,

Inc.

—

Class

A

34,648

0.0

22,241 

(1)

Topgolf

Callaway

Brands

Corp.

307,815

0

.1

5,566 

(1)

Traeger,

Inc.

15,195

0.0

15,417 

(1)

Tri

Pointe

Homes,

Inc.

421,655

0

.1

13,498 

(1)

Udemy,

Inc.

128,231

0.0

5,812 

(1)

Universal

Technical

Institute,

Inc.

48,705

0.0

9,856 

(1)

Urban

Outfitters,

Inc.

322,193

0

.1

4,502 

(1)

Vera

Bradley,

Inc.

29,758

0.0

8,963 

(1)

Vista

Outdoor,

Inc.

296,855

0

.1

4,296 

(1)

Visteon

Corp.

593,149

0

.2

12,333 

(1)

Vizio

Holding

Corp.

—

Class

A

66,722

0.0

2,238 

(1)

VOXX

International

Corp.

17,859

0.0

13,132 

(1)

Warby

Parker,

Inc.

—

Class

A

172,817

0

.1

463 

Winmark

Corp.

172,759

0

.1

4,569 

Winnebago

Industries,

Inc.

271,627

0

.1

12,364 

Wolverine

World

Wide,

Inc.

99,654

0.0

31,722 

(1)(2)

Workhorse

Group,

Inc.

13,146

0.0

8,561 

(1)

WW

International,

Inc.

94,770

0.0

3,518 

(1)

XPEL,

Inc.

271,273

0

.1

4,005 

(1)

Xponential

Fitness,

Inc.

—

Class

A

62,077

0.0

2,551 

(1)

Zumiez,

Inc.

45,408

0.0

36,621,805

10

.3

Consumer

Staples

:

3

.5

%

5,018 

Andersons,

Inc.

258,477

0

.1

11,275 

(2)

B&G

Foods,

Inc.

111,510

0.0

12,548 

(1)

Beauty

Health

Co.

75,539

0.0

20,689 

(1)

BellRing

Brands,

Inc.

853,007

0

.2

28,769 

(1)

Benson

Hill,

Inc.

9,537

0.0

9,029 

(1)(2)

Beyond

Meat,

Inc.

86,859

0.0

5,873 

(1)(2)

BRC,

Inc.

—

Class

A

21,084

0.0

2,852 

Calavo

Growers,

Inc.

71,956

0.0

5,882 

Cal-Maine

Foods,

Inc.

284,806

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Staples:

(continued)

1,041 

(1)

Central

Garden

&

Pet

Co.

$

45,950

0.0

6,761 

(1)

Central

Garden

&

Pet

Co.

—

Class

A

271,049

0

.1

5,596 

(1)

Chefs'

Warehouse,

Inc.

118,523

0.0

734 

Coca-Cola

Consolidated,

Inc.

467,059

0

.1

11,474 

Dole

PLC

132,869

0.0

7,232 

(1)

Duckhorn

Portfolio,

Inc.

74,200

0.0

7,957 

Edgewell

Personal

Care

Co.

294,091

0

.1

8,242 

(1)

elf

Beauty,

Inc.

905,219

0

.3

11,003 

Energizer

Holdings,

Inc.

352,536

0

.1

5,568 

Fresh

Del

Monte

Produce,

Inc.

143,877

0.0

13,943 

(1)

Hain

Celestial

Group,

Inc.

144,589

0

.1

15,353 

(1)

Herbalife

Ltd.

214,788

0

.1

6,870 

(1)

HF

Foods

Group,

Inc.

27,274

0.0

20,384 

(1)

Hostess

Brands,

Inc.

678,991

0

.2

2,339 

Ingles

Markets,

Inc.

—

Class

A

176,197

0

.1

2,845 

Inter

Parfums,

Inc.

382,197

0

.1

2,337 

J

&

J

Snack

Foods

Corp.

382,450

0

.1

1,473 

John

B

Sanfilippo

&

Son,

Inc.

145,532

0

.1

3,017 

Lancaster

Colony

Corp.

497,896

0

.1

2,972 

Limoneira

Co.

45,531

0.0

1,689 

Medifast,

Inc.

126,422

0.0

2,448 

MGP

Ingredients,

Inc.

258,215

0

.1

8,280 

(1)

Mission

Produce,

Inc.

80,150

0.0

3,733 

(1)

National

Beverage

Corp.

175,526

0

.1

2,335 

(1)

Nature's

Sunshine

Products,

Inc.

38,691

0.0

7,616 

Nu

Skin

Enterprises,

Inc.

—

Class

A

161,535

0

.1

869 

Oil-Dri

Corp.

of

America

53,661

0.0

4,041 

PriceSmart,

Inc.

300,772

0

.1

24,195 

Primo

Water

Corp.

333,891

0

.1

880 

(1)

Seneca

Foods

Corp.

—

Class

A

47,370

0.0

13,968 

(1)

Simply

Good

Foods

Co.

482,175

0

.1

7,802 

(1)

Sovos

Brands,

Inc.

175,935

0

.1

5,741 

SpartanNash

Co.

126,302

0.0

15,968 

(1)

Sprouts

Farmers

Market,

Inc.

683,430

0

.2

14,522 

(1)

SunOpta,

Inc.

48,939

0.0

2,074 

(1)

Thorne

HealthTech,

Inc.

21,134

0.0

7,983 

(1)

TreeHouse

Foods,

Inc.

347,899

0

.1

2,991 

Turning

Point

Brands,

Inc.

69,062

0.0

9,175 

(1)

United

Natural

Foods,

Inc.

129,735

0.0

3,909 

Universal

Corp.

184,544

0

.1

1,904 

(1)

USANA

Health

Sciences,

Inc.

111,593

0.0

11,487 

Utz

Brands,

Inc.

154,270

0

.1

22,948 

Vector

Group

Ltd.

244,167

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

5

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Consumer

Staples:

(continued)

4,414 

(1)

Vita

Coco

Co.,

Inc.

$

114,941

0.0

5,131 

(1)

Vital

Farms,

Inc.

59,417

0.0

5,844 

(1)

Waldencast

PLC

—

Class

A

55,051

0.0

2,083 

WD-40

Co.

423,349

0

.1

2,671 

Weis

Markets,

Inc.

168,273

0

.1

4,638 

(1)

Westrock

Coffee

Co.

41,093

0.0

12,491,135

3

.5

Energy

:

8

.3

%

5,908 

(1)

Amplify

Energy

Corp.

43,424

0.0

21,849 

Archrock,

Inc.

275,297

0

.1

6,619 

Ardmore

Shipping

Corp.

86,113

0.0

2,806 

Atlas

Energy

Solutions,

Inc.

—

Class

A

62,377

0.0

12,627 

Berry

Corp.

103,541

0.0

34,576 

(1)

Borr

Drilling

Ltd.

245,490

0

.1

3,846 

(1)

Bristow

Group,

Inc.

108,342

0.0

9,941 

Cactus,

Inc.

—

Class

A

499,138

0

.1

11,106 

California

Resources

Corp.

622,047

0

.2

9,447 

(1)

Callon

Petroleum

Co.

369,567

0

.1

1,952 

(1)

Centrus

Energy

Corp.

—

Class

A

110,795

0.0

30,650 

ChampionX

Corp.

1,091,753

0

.3

6,406 

Chord

Energy

Corp.

1,038,220

0

.3

10,666 

Civitas

Resources,

Inc.

862,559

0

.2

26,441 

(1)

Clean

Energy

Fuels

Corp.

101,269

0.0

24,672 

(1)

CNX

Resources

Corp.

557,094

0

.2

14,523 

Comstock

Resources,

Inc.

160,189

0

.1

5,181 

CONSOL

Energy,

Inc.

543,539

0

.2

7,382 

Core

Laboratories,

Inc.

177,242

0

.1

6,232 

Crescent

Energy

Co.

—

Class

A

78,772

0.0

4,669 

CVR

Energy,

Inc.

158,886

0

.1

10,243 

Delek

US

Holdings,

Inc.

291,004

0

.1

7,793 

(1)

Denbury,

Inc.

763,792

0

.2

21,617 

DHT

Holdings,

Inc.

222,655

0

.1

15,906 

(1)

Diamond

Offshore

Drilling,

Inc.

233,500

0

.1

3,123 

(1)

DMC

Global,

Inc.

76,420

0.0

5,147 

Dorian

LPG

Ltd.

147,873

0.0

5,480 

(1)

Dril-Quip,

Inc.

154,372

0

.1

8,973 

(1)

Earthstone

Energy,

Inc.

—

Class

A

181,613

0

.1

23,741 

(1)

Encore

Energy

Corp.

77,396

0.0

24,519 

(1)

Energy

Fuels,

Inc./

Canada

201,546

0

.1

4,648 

Enviva,

Inc.

34,721

0.0

67,407 

Equitrans

Midstream

Corp.

631,604

0

.2

5,308 

Evolution

Petroleum

Corp.

36,307

0.0

3,266 

Excelerate

Energy,

Inc.

—

Class

A

55,653

0.0

13,743 

(1)

Expro

Group

Holdings

NV

319,250

0

.1

4,743 

FLEX

LNG

Ltd.

143,049

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Energy:

(continued)

1,685 

(1)

Forum

Energy

Technologies,

Inc.

$

40,474

0.0

39,022 

(1)(2)

Gevo,

Inc.

46,436

0.0

15,741 

Golar

LNG

Ltd.

381,877

0

.1

4,278 

Granite

Ridge

Resources,

Inc.

26,096

0.0

9,010 

(1)

Green

Plains,

Inc.

271,201

0

.1

1,704 

(1)

Gulfport

Energy

Corp.

202,197

0

.1

3,654 

(1)

Hallador

Energy

Co.

52,691

0.0

22,748 

(1)

Helix

Energy

Solutions

Group,

Inc.

254,095

0

.1

14,973 

Helmerich

&

Payne,

Inc.

631,262

0

.2

2,013 

(2)

HighPeak

Energy,

Inc.

33,979

0.0

6,398 

International

Seaways,

Inc.

287,910

0

.1

2,986 

Kinetik

Holdings,

Inc.

100,777

0.0

2,049 

(1)

KLX

Energy

Services

Holdings,

Inc.

24,281

0.0

2,493 

(1)

Kodiak

Gas

Services,

Inc.

44,575

0.0

70,597 

(1)

Kosmos

Energy

Ltd.

577,483

0

.2

25,549 

Liberty

Energy,

Inc.

473,167

0

.1

28,015 

Magnolia

Oil

&

Gas

Corp.

—

Class

A

641,824

0

.2

3,909 

(1)

Mammoth

Energy

Services,

Inc.

18,138

0.0

17,436 

Matador

Resources

Co.

1,037,093

0

.3

22,778 

Murphy

Oil

Corp.

1,032,982

0

.3

1,427 

(1)

Nabors

Industries

Ltd.

175,721

0

.1

12,541 

(1)

Newpark

Resources,

Inc.

86,658

0.0

4,896 

(1)

NextDecade

Corp.

25,067

0.0

17,012 

Noble

Corp.

PLC

861,658

0

.2

33,057 

Nordic

American

Tankers

Ltd.

136,195

0.0

12,409 

Northern

Oil

and

Gas,

Inc.

499,214

0

.1

15,615 

(1)

Oceaneering

International,

Inc.

401,618

0

.1

10,562 

(1)

Oil

States

International,

Inc.

88,404

0.0

11,654 

(1)

Overseas

Shipholding

Group,

Inc.

—

Class

A

51,161

0.0

8,633 

(1)

Par

Pacific

Holdings,

Inc.

310,270

0

.1

54,364 

Patterson-UTI

Energy,

Inc.

752,398

0

.2

17,602 

PBF

Energy,

Inc.

—

Class

A

942,235

0

.3

19,265 

Peabody

Energy

Corp.

500,697

0

.1

42,499 

Permian

Resources

Corp.

593,286

0

.2

4,180 

(1)

ProFrac

Holding

Corp.

—

Class

A

45,478

0.0

15,454 

(1)

ProPetro

Holding

Corp.

164,276

0

.1

2,516 

(1)

REX

American

Resources

Corp.

102,452

0.0

1,448 

Riley

Exploration

Permian,

Inc.

46,032

0.0

13,407 

RPC,

Inc.

119,859

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

6

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Energy:

(continued)

5,450 

SandRidge

Energy,

Inc.

$

85,347

0.0

7,688 

Scorpio

Tankers,

Inc.

416,075

0

.1

4,108 

(1)

SEACOR

Marine

Holdings,

Inc.

57,019

0.0

7,846 

(1)

Seadrill

Ltd.

351,422

0

.1

13,116 

Select

Water

Solutions,

Inc.

104,272

0.0

18,635 

SFL

Corp.

Ltd.

207,780

0

.1

2,863 

(1)

SilverBow

Resources,

Inc.

102,409

0.0

12,563 

Sitio

Royalties

Corp.

—

Class

A

304,150

0

.1

18,441 

SM

Energy

Co.

731,186

0

.2

5,361 

Solaris

Oilfield

Infrastructure,

Inc.

—

Class

A

57,148

0.0

17,186 

(1)

Talos

Energy,

Inc.

282,538

0

.1

11,034 

(1)

Teekay

Corp.

68,080

0.0

3,804 

Teekay

Tankers

Ltd.

—

Class

A

158,361

0

.1

85,283 

(1)(2)

Tellurian,

Inc.

98,928

0.0

19,618 

(1)

TETRA

Technologies,

Inc.

125,163

0.0

7,361 

(1)

Tidewater,

Inc.

523,146

0

.2

56,999 

(1)(2)

Uranium

Energy

Corp.

293,545

0

.1

12,037 

(1)

US

Silica

Holdings,

Inc.

168,999

0

.1

17,652 

VAALCO

Energy,

Inc.

77,492

0.0

9,450 

(1)

Valaris

Ltd.

708,561

0

.2

10,126 

(1)

Vertex

Energy,

Inc.

45,061

0.0

2,626 

(1)

Vital

Energy,

Inc.

145,533

0.0

4,109 

Vitesse

Energy,

Inc.

94,055

0.0

16,049 

(1)

W&T

Offshore,

Inc.

70,295

0.0

11,007 

(1)

Weatherford

International

PLC

994,262

0

.3

9,661 

World

Fuel

Services

Corp.

216,696

0

.1

29,435,149

8

.3

Financials

:

15

.6

%

2,952 

1st

Source

Corp.

124,250

0.0

1,539 

ACNB

Corp.

48,648

0.0

2,815 

AFC

Gamma,

Inc.

33,048

0.0

3,397 

Alerus

Financial

Corp.

61,757

0.0

3,229 

(1)

AlTi

Global,

Inc.

22,474

0.0

3,122 

Amalgamated

Financial

Corp.

53,761

0.0

2,947 

A-Mark

Precious

Metals,

Inc.

86,436

0.0

7,752 

(1)

Ambac

Financial

Group,

Inc.

93,489

0.0

4,745 

Amerant

Bancorp,

Inc.

82,753

0.0

3,034 

(1)

American

Coastal

Insurance

Corp.

22,330

0.0

11,941 

(1)

American

Equity

Investment

Life

Holding

Co.

640,515

0

.2

1,908 

American

National

Bankshares,

Inc.

72,390

0.0

10,156 

Ameris

Bancorp

389,889

0

.1

3,178 

AMERISAFE,

Inc.

159,122

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

22,469 

Apollo

Commercial

Real

Estate

Finance,

Inc.

$

227,611

0

.1

27,668 

Arbor

Realty

Trust,

Inc.

420,000

0

.1

8,487 

(2)

Ares

Commercial

Real

Estate

Corp.

80,796

0.0

5,213 

Argo

Group

International

Holdings

Ltd.

155,556

0

.1

33,086 

ARMOUR

Residential

REIT,

Inc.

140,616

0.0

2,813 

Arrow

Financial

Corp.

47,877

0.0

9,248 

Artisan

Partners

Asset

Management,

Inc.

—

Class

A

346,060

0

.1

3,752 

(1)

AssetMark

Financial

Holdings,

Inc.

94,100

0.0

23,123 

Associated

Banc-Corp.

395,635

0

.1

11,621 

Atlantic

Union

Bankshares

Corp.

334,452

0

.1

5,922 

(1)

Avantax,

Inc.

151,485

0

.1

23,106 

(1)

AvidXchange

Holdings,

Inc.

219,045

0

.1

8,758 

(1)

Axos

Financial,

Inc.

331,578

0

.1

2,850 

B

Riley

Financial,

Inc.

116,822

0.0

8,993 

Banc

of

California,

Inc.

111,333

0.0

3,465 

BancFirst

Corp.

300,519

0

.1

4,834 

Banco

Latinoamericano

de

Comercio

Exterior

SA

—

Class

E

102,481

0.0

8,267 

(1)

Bancorp,

Inc.

285,212

0

.1

1,606 

Bank

First

Corp.

123,903

0.0

6,013 

Bank

of

Hawaii

Corp.

298,786

0

.1

2,807 

Bank

of

Marin

Bancorp

51,312

0.0

7,883 

Bank

of

NT

Butterfield

&

Son

Ltd.

213,472

0

.1

11,564 

BankUnited,

Inc.

262,503

0

.1

5,350 

Banner

Corp.

226,733

0

.1

2,636 

Bar

Harbor

Bankshares

62,289

0.0

7,284 

Berkshire

Hills

Bancorp,

Inc.

146,044

0.0

49,078 

BGC

Group,

Inc.

—

Class

A

259,132

0

.1

25,792 

(2)

Blackstone

Mortgage

Trust,

Inc.

—

Class

A

560,976

0

.2

4,744 

(1)

Blue

Foundry

Bancorp

39,707

0.0

7,687 

Bread

Financial

Holdings,

Inc.

262,895

0

.1

4,003 

(1)

Bridgewater

Bancshares,

Inc.

37,948

0.0

5,448 

Brightsphere

Investment

Group,

Inc.

105,637

0.0

20,176 

BrightSpire

Capital,

Inc.

126,302

0.0

14,446 

Brookline

Bancorp,

Inc.

131,603

0.0

9,411 

(1)

BRP

Group,

Inc.

—

Class

A

218,618

0

.1

1,043 

Burke

&

Herbert

Financial

Services

Corp.

48,463

0.0

4,465 

Business

First

Bancshares,

Inc.

83,763

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

7

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

4,728 

Byline

Bancorp,

Inc.

$

93,189

0.0

27,859 

Cadence

Bank

591,168

0

.2

1,287 

Cambridge

Bancorp

80,167

0.0

2,845 

Camden

National

Corp.

80,286

0.0

11,118 

(1)

Cannae

Holdings,

Inc.

207,240

0

.1

10,038 

(1)

Cantaloupe,

Inc.

62,738

0.0

2,755 

Capital

City

Bank

Group,

Inc.

82,182

0.0

21,634 

Capitol

Federal

Financial,

Inc.

103,194

0.0

3,849 

Capstar

Financial

Holdings,

Inc.

54,617

0.0

4,526 

(1)

Carter

Bankshares,

Inc.

56,711

0.0

2,365 

Cass

Information

Systems,

Inc.

88,096

0.0

10,757 

Cathay

General

Bancorp

373,913

0

.1

4,851 

Central

Pacific

Financial

Corp.

80,915

0.0

2,916 

Chicago

Atlantic

Real

Estate

Finance,

Inc.

42,924

0.0

35,677 

Chimera

Investment

Corp.

194,796

0

.1

2,833 

Citizens

&

Northern

Corp.

49,719

0.0

725 

Citizens

Financial

Services,

Inc.

34,742

0.0

2,441 

City

Holding

Co.

220,544

0

.1

2,979 

Civista

Bancshares,

Inc.

46,175

0.0

14,660 

Claros

Mortgage

Trust,

Inc.

162,433

0

.1

3,955 

CNB

Financial

Corp.

71,625

0.0

17,657 

CNO

Financial

Group,

Inc.

419,001

0

.1

1,911 

(1)

Coastal

Financial

Corp.

82,001

0.0

4,030 

Cohen

&

Steers,

Inc.

252,641

0

.1

5,293 

(1)

Columbia

Financial,

Inc.

83,153

0.0

8,203 

Community

Bank

System,

Inc.

346,249

0

.1

2,910 

Community

Trust

Bancorp,

Inc.

99,697

0.0

10,085 

Compass

Diversified

Holdings

189,295

0

.1

6,433 

ConnectOne

Bancorp,

Inc.

114,700

0.0

8,468 

(1)

CrossFirst

Bankshares,

Inc.

85,442

0.0

4,433 

(1)

Customers

Bancorp,

Inc.

152,717

0

.1

20,483 

CVB

Financial

Corp.

339,403

0

.1

498 

Diamond

Hill

Investment

Group,

Inc.

83,948

0.0

5,814 

Dime

Community

Bancshares,

Inc.

116,047

0.0

3,885 

(1)

Donnelley

Financial

Solutions,

Inc.

218,648

0

.1

8,447 

Dynex

Capital,

Inc.

100,857

0.0

4,950 

Eagle

Bancorp,

Inc.

106,178

0.0

24,058 

Eastern

Bankshares,

Inc.

301,687

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

4,187 

(1)

eHealth,

Inc.

$

30,984

0.0

10,307 

(2)

Ellington

Financial,

Inc.

128,528

0.0

4,519 

Employers

Holdings,

Inc.

180,534

0

.1

5,093 

Enact

Holdings,

Inc.

138,682

0.0

3,724 

(1)

Encore

Capital

Group,

Inc.

177,858

0

.1

4,783 

(1)

Enova

International,

Inc.

243,311

0

.1

1,850 

(1)

Enstar

Group

Ltd.

447,700

0

.1

1,962 

Enterprise

Bancorp,

Inc.

53,720

0.0

5,861 

Enterprise

Financial

Services

Corp.

219,788

0

.1

2,777 

Equity

Bancshares,

Inc.

—

Class

A

66,842

0.0

1,225 

Esquire

Financial

Holdings,

Inc.

55,970

0.0

16,193 

Essent

Group

Ltd.

765,767

0

.2

3,032 

F&G

Annuities

&

Life,

Inc.

85,078

0.0

2,391 

Farmers

&

Merchants

Bancorp,

Inc./Archbold

OH

41,914

0.0

6,968 

Farmers

National

Banc

Corp.

80,550

0.0

5,780 

FB

Financial

Corp.

163,921

0

.1

1,485 

Federal

Agricultural

Mortgage

Corp.

—

Class

C

229,136

0

.1

915 

Fidelity

D&D

Bancorp,

Inc.

41,541

0.0

2,867 

Financial

Institutions,

Inc.

48,252

0.0

2,285 

First

Bancorp,

Inc.

53,698

0.0

27,554 

First

BanCorp/Puerto

Rico

370,877

0

.1

6,408 

First

Bancorp/Southern

Pines

NC

180,321

0

.1

5,217 

First

Bancshares,

Inc.

140,702

0.0

3,500 

First

Bank/Hamilton

NJ

37,730

0.0

8,817 

First

Busey

Corp.

169,463

0

.1

16,398 

First

Commonwealth

Financial

Corp.

200,220

0

.1

3,478 

First

Community

Bankshares,

Inc.

102,427

0.0

14,914 

First

Financial

Bancorp

292,314

0

.1

20,068 

First

Financial

Bankshares,

Inc.

504,108

0

.2

2,537 

First

Financial

Corp.

85,776

0.0

8,310 

First

Foundation,

Inc.

50,525

0.0

13,024 

First

Interstate

BancSystem,

Inc.

—

Class

A

324,819

0

.1

9,399 

First

Merchants

Corp.

261,480

0

.1

3,670 

First

Mid

Bancshares,

Inc.

97,475

0.0

4,217 

First

of

Long

Island

Corp.

48,538

0.0

5,838 

FirstCash

Holdings,

Inc.

586,018

0

.2

2,314 

Five

Star

Bancorp

46,419

0.0

5,095 

Flushing

Financial

Corp.

66,897

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

8

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

14,701 

(1)

Flywire

Corp.

$

468,815

0

.1

16,912 

(1)

Forge

Global

Holdings,

Inc.

34,331

0.0

13,543 

Franklin

BSP

Realty

Trust,

Inc.

179,309

0

.1

24,888 

Fulton

Financial

Corp.

301,394

0

.1

7,113 

GCM

Grosvenor,

Inc.

—

Class

A

55,197

0.0

74,313 

(1)

Genworth

Financial,

Inc.

—

Class

A

435,474

0

.1

5,082 

German

American

Bancorp,

Inc.

137,671

0.0

17,099 

Glacier

Bancorp,

Inc.

487,322

0

.1

3,341 

(1)

Goosehead

Insurance,

Inc.

—

Class

A

249,005

0

.1

9,966 

Granite

Point

Mortgage

Trust,

Inc.

48,634

0.0

1,864 

Great

Southern

Bancorp,

Inc.

89,323

0.0

7,623 

(1)

Green

Dot

Corp.

—

Class

A

106,188

0.0

1,267 

Greene

County

Bancorp,

Inc.

30,471

0.0

3,976 

(1)

Greenlight

Capital

Re

Ltd.

—

Class

A

42,702

0.0

5,545 

Hamilton

Lane,

Inc.

—

Class

A

501,490

0

.1

13,258 

Hancock

Whitney

Corp.

490,413

0

.1

5,768 

Hanmi

Financial

Corp.

93,615

0.0

15,908 

(2)

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

337,250

0

.1

7,970 

HarborOne

Bancorp,

Inc.

75,874

0.0

1,030 

HCI

Group,

Inc.

55,919

0.0

6,796 

Heartland

Financial

USA,

Inc.

200,006

0

.1

10,307 

Heritage

Commerce

Corp.

87,300

0.0

6,246 

Heritage

Financial

Corp.

101,872

0.0

7,374 

Hilltop

Holdings,

Inc.

209,127

0

.1

254 

(2)

Hingham

Institution

For

Savings

The

47,435

0.0

1,838 

(1)

Hippo

Holdings,

Inc.

14,649

0.0

1,689 

Home

Bancorp,

Inc.

53,828

0.0

29,239 

Home

BancShares,

Inc.

612,265

0

.2

2,731 

HomeStreet,

Inc.

21,274

0.0

2,997 

HomeTrust

Bancshares,

Inc.

64,945

0.0

18,468 

Hope

Bancorp,

Inc.

163,442

0

.1

6,595 

Horace

Mann

Educators

Corp.

193,761

0

.1

7,623 

Horizon

Bancorp,

Inc.

81,414

0.0

6,944 

Independent

Bank

Corp.

340,881

0

.1

3,850 

Independent

Bank

Corp.

70,609

0.0

5,621 

Independent

Bank

Group,

Inc.

222,311

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

8,426 

International

Bancshares

Corp.

$

365,183

0

.1

5,425 

(1)

International

Money

Express,

Inc.

91,845

0.0

6,780 

(2)

Invesco

Mortgage

Capital,

Inc.

67,868

0.0

12,609 

Jackson

Financial,

Inc.

—

Class

A

481,916

0

.1

6,313 

James

River

Group

Holdings

Ltd.

96,905

0.0

2,198 

John

Marshall

Bancorp,

Inc.

39,234

0.0

10,487 

Kearny

Financial

Corp.

72,675

0.0

9,313 

KKR

Real

Estate

Finance

Trust,

Inc.

110,545

0.0

18,514 

Ladder

Capital

Corp.

189,954

0

.1

10,784 

Lakeland

Bancorp,

Inc.

136,094

0.0

3,961 

Lakeland

Financial

Corp.

187,989

0

.1

7,929 

(1)(2)

Lemonade,

Inc.

92,135

0.0

16,896 

(1)

LendingClub

Corp.

103,066

0.0

1,636 

(1)

LendingTree,

Inc.

25,358

0.0

5,307 

Live

Oak

Bancshares,

Inc.

153,638

0

.1

16,239 

(1)

Maiden

Holdings

Ltd.

28,581

0.0

75,290 

(1)

Marqeta,

Inc.

—

Class

A

450,234

0

.1

8,089 

(1)

MBIA,

Inc.

58,322

0.0

3,159 

Mercantile

Bank

Corp.

97,645

0.0

2,856 

Merchants

Bancorp

79,168

0.0

4,343 

Mercury

General

Corp.

121,734

0.0

3,603 

Metrocity

Bankshares,

Inc.

70,907

0.0

1,639 

(1)

Metropolitan

Bank

Holding

Corp.

59,463

0.0

15,774 

MFA

Financial,

Inc.

151,588

0

.1

2,732 

Mid

Penn

Bancorp,

Inc.

54,995

0.0

1,564 

Middlefield

Banc

Corp.

39,741

0.0

4,170 

Midland

States

Bancorp,

Inc.

85,652

0.0

2,634 

MidWestOne

Financial

Group,

Inc.

53,549

0.0

10,138 

Moelis

&

Co.

—

Class

A

457,528

0

.1

10,124 

(1)

Mr

Cooper

Group,

Inc.

542,241

0

.2

2,059 

MVB

Financial

Corp.

46,492

0.0

5,917 

National

Bank

Holdings

Corp.

—

Class

A

176,090

0

.1

366 

National

Western

Life

Group,

Inc.

—

Class

A

160,121

0

.1

14,326 

Navient

Corp.

246,694

0

.1

7,213 

NBT

Bancorp,

Inc.

228,580

0

.1

2,428 

Nelnet,

Inc.

—

Class

A

216,869

0

.1

5,648 

(1)

NerdWallet,

Inc.

—

Class

A

50,211

0.0

14,568 

New

York

Mortgage

Trust,

Inc.

123,682

0.0

3,878 

NewtekOne,

Inc.

57,201

0.0

2,130 

Nicolet

Bankshares,

Inc.

148,631

0

.1

12,887 

(1)

NMI

Holdings,

Inc.

—

Class

A

349,109

0

.1

1,283 

Northeast

Bank

56,580

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

9

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

8,279 

Northfield

Bancorp,

Inc.

$

78,237

0.0

20,316 

Northwest

Bancshares,

Inc.

207,833

0

.1

1,442 

Norwood

Financial

Corp.

37,146

0.0

9,671 

OceanFirst

Financial

Corp.

139,939

0.0

1,123 

(1)

Ocwen

Financial

Corp.

29,063

0.0

7,644 

OFG

Bancorp

228,250

0

.1

44,988 

Old

National

Bancorp

654,126

0

.2

7,718 

Old

Second

Bancorp,

Inc.

105,042

0.0

15,325 

(1)

Open

Lending

Corp.

112,179

0.0

979 

Orange

County

Bancorp,

Inc.

42,263

0.0

6,875 

Orchid

Island

Capital,

Inc.

58,506

0.0

4,974 

Origin

Bancorp,

Inc.

143,599

0.0

24,148 

(1)

Oscar

Health,

Inc.

—

Class

A

134,504

0.0

7,283 

P10,

Inc.

—

Class

A

84,847

0.0

14,551 

Pacific

Premier

Bancorp,

Inc.

316,630

0

.1

18,351 

PacWest

Bancorp

145,156

0.0

30,694 

(1)

Pagseguro

Digital

Ltd.

—

Class

A

264,275

0

.1

3,853 

(1)

Palomar

Holdings,

Inc.

195,540

0

.1

2,294 

Park

National

Corp.

216,829

0

.1

4,275 

Pathward

Financial,

Inc.

197,035

0

.1

8,650 

Patria

Investments

Ltd.

—

Class

A

126,117

0.0

41,047 

(1)

Payoneer

Global,

Inc.

251,208

0

.1

5,278 

(1)

Paysafe

Ltd.

63,283

0.0

3,428 

Peapack-Gladstone

Financial

Corp.

87,928

0.0

3,976 

PennyMac

Financial

Services,

Inc.

264,802

0

.1

14,289 

PennyMac

Mortgage

Investment

Trust

177,184

0

.1

5,792 

Peoples

Bancorp,

Inc.

147,001

0.0

1,305 

Peoples

Financial

Services

Corp.

52,331

0.0

7,000 

Perella

Weinberg

Partners

71,260

0.0

2,666 

Piper

Sandler

Cos.

387,396

0

.1

3,676 

PJT

Partners,

Inc.

—

Class

A

292,021

0

.1

1,075 

Plumas

Bancorp

36,701

0.0

6,287 

(1)

PRA

Group,

Inc.

120,773

0.0

2,273 

Preferred

Bank/Los

Angeles

CA

141,494

0.0

6,254 

Premier

Financial

Corp.

106,693

0.0

8,735 

ProAssurance

Corp.

165,004

0

.1

7,268 

(1)

PROG

Holdings,

Inc.

241,370

0

.1

12,045 

Provident

Financial

Services,

Inc.

184,168

0

.1

2,785 

QCR

Holdings,

Inc.

135,128

0.0

24,095 

Radian

Group,

Inc.

605,025

0

.2

24,506 

Ready

Capital

Corp.

247,756

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

901 

Red

River

Bancshares,

Inc.

$

41,410

0.0

18,457 

Redwood

Trust,

Inc.

131,598

0.0

1,414 

Regional

Management

Corp.

39,140

0.0

20,152 

(1)

Remitly

Global,

Inc.

508,233

0

.2

8,797 

Renasant

Corp.

230,393

0

.1

1,597 

Republic

Bancorp,

Inc.

—

Class

A

70,348

0.0

6,467 

S&T

Bancorp,

Inc.

175,126

0

.1

2,355 

Safety

Insurance

Group,

Inc.

160,587

0

.1

7,181 

Sandy

Spring

Bancorp,

Inc.

153,889

0

.1

3,349 

Sculptor

Capital

Management,

Inc.

38,848

0.0

13,017 

Seacoast

Banking

Corp.

of

Florida

285,853

0

.1

9,275 

Selective

Insurance

Group,

Inc.

956,902

0

.3

21,291 

(1)

Selectquote,

Inc.

24,910

0.0

7,873 

ServisFirst

Bancshares,

Inc.

410,734

0

.1

19,647 

Simmons

First

National

Corp.

—

Class

A

333,213

0

.1

14,849 

(1)

SiriusPoint

Ltd.

151,014

0

.1

3,716 

(1)

Skyward

Specialty

Insurance

Group,

Inc.

101,670

0.0

3,210 

SmartFinancial,

Inc.

68,598

0.0

1,512 

(1)

Southern

First

Bancshares,

Inc.

40,733

0.0

1,544 

Southern

Missouri

Bancorp,

Inc.

59,737

0.0

5,042 

Southside

Bancshares,

Inc.

144,705

0.0

11,628 

SouthState

Corp.

783,262

0

.2

7,974 

Stellar

Bancorp,

Inc.

170,006

0

.1

8,407 

StepStone

Group,

Inc.

—

Class

A

265,493

0

.1

4,279 

Stewart

Information

Services

Corp.

187,420

0

.1

4,489 

Stock

Yards

Bancorp,

Inc.

176,373

0

.1

44,939 

(1)

StoneCo

Ltd.

—

Class

A

479,499

0

.1

2,802 

(1)

StoneX

Group,

Inc.

271,570

0

.1

7,359 

(1)

Texas

Capital

Bancshares,

Inc.

433,445

0

.1

2,441 

(1)

Third

Coast

Bancshares,

Inc.

41,741

0.0

4,376 

Tiptree,

Inc.

73,342

0.0

2,482 

Tompkins

Financial

Corp.

121,593

0.0

11,296 

Towne

Bank/Portsmouth

VA

259,017

0

.1

11,598 

TPG

RE

Finance

Trust,

Inc.

78,055

0.0

5,145 

TriCo

Bancshares

164,794

0

.1

3,502 

(1)

Triumph

Financial,

Inc.

226,895

0

.1

6,143 

(1)

Trupanion,

Inc.

173,233

0

.1

3,680 

TrustCo

Bank

Corp.

NY

100,427

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

10

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Financials:

(continued)

9,787 

Trustmark

Corp.

$

212,672

0

.1

14,911 

Two

Harbors

Investment

Corp.

197,422

0

.1

6,794 

UMB

Financial

Corp.

421,568

0

.1

19,978 

United

Bankshares,

Inc.

551,193

0

.2

17,739 

United

Community

Banks,

Inc.

450,748

0

.1

3,672 

United

Fire

Group,

Inc.

72,522

0.0

4,094 

Universal

Insurance

Holdings,

Inc.

57,398

0.0

5,449 

Univest

Financial

Corp.

94,704

0.0

11,100 

(1)(2)

Upstart

Holdings,

Inc.

316,794

0

.1

65,758 

Valley

National

Bancorp

562,888

0

.2

8,348 

Veritex

Holdings,

Inc.

149,847

0

.1

4,187 

Victory

Capital

Holdings,

Inc.

—

Class

A

139,595

0.0

1,066 

Virtus

Investment

Partners,

Inc.

215,321

0

.1

4,851 

Walker

&

Dunlop,

Inc.

360,138

0

.1

10,193 

Washington

Federal,

Inc.

261,145

0

.1

3,143 

Washington

Trust

Bancorp,

Inc.

82,755

0.0

3,513 

Waterstone

Financial,

Inc.

38,467

0.0

9,152 

WesBanco,

Inc.

223,492

0

.1

3,095 

West

BanCorp,

Inc.

50,479

0.0

4,217 

Westamerica

BanCorp

182,385

0

.1

21,868 

WisdomTree,

Inc.

153,076

0

.1

639 

(1)

World

Acceptance

Corp.

81,191

0.0

9,538 

WSFS

Financial

Corp.

348,137

0

.1

55,485,961

15

.6

Health

Care

:

14

.5

%

44,584 

(1)

23andMe

Holding

Co.

—

Class

A

43,590

0.0

7,609 

(1)

2seventy

bio,

Inc.

29,827

0.0

6,242 

(1)

4D

Molecular

Therapeutics,

Inc.

79,461

0.0

9,678 

(1)

89bio,

Inc.

149,428

0

.1

18,661 

(1)

ACADIA

Pharmaceuticals,

Inc.

388,895

0

.1

10,518 

(1)

Accolade,

Inc.

111,280

0.0

16,273 

(1)

Accuray,

Inc.

44,263

0.0

5,364 

(1)

ACELYRIN,

Inc.

54,552

0.0

11,286 

(1)

Aclaris

Therapeutics,

Inc.

77,309

0.0

1,330 

(1)

Acrivon

Therapeutics,

Inc.

12,715

0.0

4,159 

(1)

Actinium

Pharmaceuticals,

Inc.

24,621

0.0

14,917 

(1)

AdaptHealth

Corp.

135,745

0

.1

17,950 

(1)

Adaptive

Biotechnologies

Corp.

97,828

0.0

2,477 

(1)

Addus

HomeCare

Corp.

211,016

0

.1

33,372 

(1)

ADMA

Biologics,

Inc.

119,472

0.0

1,607 

(1)

Aerovate

Therapeutics,

Inc.

21,807

0.0

55,749 

(1)

Agenus,

Inc.

62,996

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

4,573 

(1)

Agiliti,

Inc.

$

29,679

0.0

8,614 

(1)

Agios

Pharmaceuticals,

Inc.

213,197

0

.1

7,890 

(1)

Akero

Therapeutics,

Inc.

399,076

0

.1

7,817 

(1)

Aldeyra

Therapeutics,

Inc.

52,218

0.0

10,179 

(1)

Alector,

Inc.

65,960

0.0

13,279 

(1)

Alignment

Healthcare,

Inc.

92,156

0.0

25,528 

(1)

Alkermes

PLC

715,039

0

.2

10,304 

(1)

Allakos,

Inc.

23,390

0.0

13,417 

(1)

Allogene

Therapeutics,

Inc.

42,532

0.0

8,102 

(1)

Allovir,

Inc.

17,419

0.0

16,936 

(1)

Allscripts

Healthcare

Solutions,

Inc.

222,539

0

.1

12,355 

(1)

Alphatec

Holdings,

Inc.

160,244

0

.1

5,352 

(1)

Alpine

Immune

Sciences,

Inc.

61,280

0.0

7,461 

(1)

Altimmune,

Inc.

19,399

0.0

3,618 

(1)

ALX

Oncology

Holdings,

Inc.

17,366

0.0

40,946 

(1)

American

Well

Corp.

—

Class

A

47,907

0.0

43,161 

(1)

Amicus

Therapeutics,

Inc.

524,838

0

.2

6,139 

(1)

AMN

Healthcare

Services,

Inc.

522,920

0

.2

19,553 

(1)

Amneal

Pharmaceuticals,

Inc.

82,514

0.0

5,914 

(1)

Amphastar

Pharmaceuticals,

Inc.

271,985

0

.1

7,933 

(1)

Amylyx

Pharmaceuticals,

Inc.

145,253

0

.1

3,020 

(1)

AnaptysBio,

Inc.

54,239

0.0

10,901 

(1)

Anavex

Life

Sciences

Corp.

71,402

0.0

6,489 

(1)

AngioDynamics,

Inc.

47,435

0.0

2,245 

(1)

ANI

Pharmaceuticals,

Inc.

130,345

0

.1

2,300 

(1)

Anika

Therapeutics,

Inc.

42,849

0.0

7,120 

(1)

Annexon,

Inc.

16,803

0.0

3,085 

(1)(2)

Apogee

Therapeutics,

Inc.

65,711

0.0

6,708 

(1)

Apollo

Medical

Holdings,

Inc.

206,942

0

.1

22,833 

(1)

Arbutus

Biopharma

Corp.

46,351

0.0

5,906 

(1)

Arcellx,

Inc.

211,907

0

.1

3,599 

(1)

Arcturus

Therapeutics

Holdings,

Inc.

91,954

0.0

8,200 

(1)

Arcus

Biosciences,

Inc.

147,190

0

.1

8,491 

(1)

Arcutis

Biotherapeutics,

Inc.

45,087

0.0

33,453 

(1)

Ardelyx,

Inc.

136,488

0

.1

15,624 

(1)

Arrowhead

Pharmaceuticals,

Inc.

419,817

0

.1

3,698 

(1)

ARS

Pharmaceuticals,

Inc.

13,978

0.0

6,528 

(1)

Artivion,

Inc.

98,964

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

11

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

7,658 

(1)

Arvinas,

Inc.

$

150,403

0

.1

13,418 

(1)

Assertio

Holdings,

Inc.

34,350

0.0

3,970 

(1)

Astria

Therapeutics,

Inc.

29,616

0.0

16,393 

(1)

Atara

Biotherapeutics,

Inc.

24,262

0.0

13,635 

(1)

Atea

Pharmaceuticals,

Inc.

40,905

0.0

7,202 

(1)

AtriCure,

Inc.

315,448

0

.1

228 

Atrion

Corp.

94,203

0.0

4,774 

(1)

Aura

Biosciences,

Inc.

42,823

0.0

21,155 

(1)

Aurinia

Pharmaceuticals,

Inc.

164,374

0

.1

7,460 

(1)

Avanos

Medical,

Inc.

150,841

0

.1

9,854 

(1)

Avid

Bioservices,

Inc.

93,022

0.0

11,394 

(1)

Avidity

Biosciences,

Inc.

72,694

0.0

4,143 

(1)

Avita

Medical,

Inc.

60,529

0.0

6,346 

(1)

Axogen,

Inc.

31,730

0.0

7,554 

(1)

Axonics,

Inc.

423,930

0

.1

5,437 

(1)

Axsome

Therapeutics,

Inc.

379,992

0

.1

10,584 

(1)(2)

Beam

Therapeutics,

Inc.

254,545

0

.1

6,787 

(1)

BioAtla,

Inc.

11,538

0.0

29,427 

(1)

BioCryst

Pharmaceuticals,

Inc.

208,343

0

.1

9,112 

(1)

Biohaven

Ltd.

237,003

0

.1

5,549 

(1)

BioLife

Solutions,

Inc.

76,632

0.0

3,299 

(1)(2)

Biomea

Fusion,

Inc.

45,394

0.0

16,441 

(1)

Bluebird

Bio,

Inc.

49,981

0.0

9,358 

(1)

Blueprint

Medicines

Corp.

469,959

0

.1

17,685 

(1)

Bridgebio

Pharma,

Inc.

466,353

0

.1

29,202 

(1)

Brookdale

Senior

Living,

Inc.

120,896

0.0

21,791 

(1)

Butterfly

Network,

Inc.

25,713

0.0

5,459 

(1)

Cabaletta

Bio,

Inc.

83,086

0.0

7,450 

(1)

Cara

Therapeutics,

Inc.

12,516

0.0

7,995 

(1)

CareDx,

Inc.

55,965

0.0

11,611 

(1)

CareMax,

Inc.

24,615

0.0

11,399 

(1)

Caribou

Biosciences,

Inc.

54,487

0.0

4,108 

Carisma

Therapeutics,

Inc.

17,377

0.0

6,260 

(1)(2)

Cassava

Sciences,

Inc.

104,166

0.0

3,897 

(1)

Castle

Biosciences,

Inc.

65,820

0.0

15,481 

(1)

Catalyst

Pharmaceuticals,

Inc.

180,973

0

.1

2,823 

(1)

Celcuity,

Inc.

25,802

0.0

7,215 

(1)

Celldex

Therapeutics,

Inc.

198,557

0

.1

9,598 

(1)(2)

Cerevel

Therapeutics

Holdings,

Inc.

209,524

0

.1

29,586 

(1)

Cerus

Corp.

47,929

0.0

19,657 

(1)

Citius

Pharmaceuticals,

Inc.

13,453

0.0

9,870 

(1)

Codexis,

Inc.

18,654

0.0

12,600 

(1)

Cogent

Biosciences,

Inc.

122,850

0.0

15,188 

(1)

Coherus

Biosciences,

Inc.

56,803

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

5,613 

(1)

Collegium

Pharmaceutical,

Inc.

$

125,451

0

.1

19,253 

(1)

Community

Health

Systems,

Inc.

55,834

0.0

16,347 

(1)

Compass

Therapeutics,

Inc.

32,204

0.0

2,256 

(1)

Computer

Programs

and

Systems,

Inc.

35,961

0.0

4,687 

CONMED

Corp.

472,684

0

.1

12,425 

(1)

Corcept

Therapeutics,

Inc.

338,519

0

.1

8,269 

(1)(2)

CorMedix,

Inc.

30,595

0.0

1,378 

(1)

CorVel

Corp.

270,984

0

.1

9,971 

(1)

Crinetics

Pharmaceuticals,

Inc.

296,538

0

.1

5,347 

(1)

Cross

Country

Healthcare,

Inc.

132,552

0

.1

6,312 

(1)

CryoPort,

Inc.

86,538

0.0

5,513 

(1)

Cue

Biopharma,

Inc.

12,680

0.0

4,035 

(1)

Cullinan

Oncology,

Inc.

36,517

0.0

2,892 

(1)

Cutera,

Inc.

17,410

0.0

1,744 

(1)

CVRx,

Inc.

26,456

0.0

15,360 

(1)

Cymabay

Therapeutics,

Inc.

229,018

0

.1

19,029 

(1)

Cytek

Biosciences,

Inc.

105,040

0.0

14,350 

(1)

Cytokinetics,

Inc.

422,751

0

.1

9,802 

(1)

Day

One

Biopharmaceuticals,

Inc.

120,271

0.0

8,335 

(1)

Deciphera

Pharmaceuticals,

Inc.

106,021

0.0

7,207 

(1)

Definitive

Healthcare

Corp.

57,584

0.0

18,162 

(1)

Denali

Therapeutics,

Inc.

374,682

0

.1

5,631 

(1)

Design

Therapeutics,

Inc.

13,289

0.0

1,421 

(1)

Disc

Medicine,

Inc.

66,759

0.0

12,355 

(1)

DocGo,

Inc.

65,852

0.0

19,965 

(1)

Dynavax

Technologies

Corp.

294,883

0

.1

6,962 

(1)

Dyne

Therapeutics,

Inc.

62,380

0.0

1,695 

(1)

Eagle

Pharmaceuticals,

Inc.

26,730

0.0

7,390 

(1)

Edgewise

Therapeutics,

Inc.

42,345

0.0

13,074 

(1)

Editas

Medicine,

Inc.

101,977

0.0

9,068 

Embecta

Corp.

136,473

0

.1

7,610 

(1)

Emergent

BioSolutions,

Inc.

25,874

0.0

3,120 

(1)

Enanta

Pharmaceuticals,

Inc.

34,850

0.0

8,123 

(1)

Enhabit,

Inc.

91,384

0.0

3,878 

(1)(2)

Enliven

Therapeutics,

Inc.

52,973

0.0

8,425 

Ensign

Group,

Inc.

782,935

0

.2

3,288 

(1)

Entrada

Therapeutics,

Inc.

51,950

0.0

50,485 

(1)

EQRx,

Inc.

112,077

0.0

12,469 

(1)

Erasca,

Inc.

24,564

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

12

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

16,893 

(1)

Evolent

Health,

Inc.

—

Class

A

$

459,996

0

.1

6,904 

(1)

Evolus,

Inc.

63,103

0.0

4,136 

(1)(2)

EyePoint

Pharmaceuticals,

Inc.

33,047

0.0

12,849 

(1)

Fate

Therapeutics,

Inc.

27,240

0.0

3,194 

(1)

Fennec

Pharmaceuticals,

Inc.

23,987

0.0

13,733 

(1)

FibroGen,

Inc.

11,850

0.0

3,619 

(1)

Foghorn

Therapeutics,

Inc.

18,095

0.0

3,341 

(1)

Fulgent

Genetics,

Inc.

89,338

0.0

2,956 

(1)(2)

Genelux

Corp.

72,392

0.0

7,211 

(1)

Generation

Bio

Co.

27,330

0.0

77,710 

(1)

Geron

Corp.

164,745

0

.1

7,212 

(1)

Glaukos

Corp.

542,703

0

.2

13,516 

(1)

Gritstone

bio,

Inc.

23,248

0.0

17,390 

(1)

Guardant

Health,

Inc.

515,440

0

.2

7,737 

(1)

Haemonetics

Corp.

693,080

0

.2

20,043 

(1)

Halozyme

Therapeutics,

Inc.

765,643

0

.2

5,152 

(1)

Harmony

Biosciences

Holdings,

Inc.

168,831

0

.1

4,736 

(1)

Harrow,

Inc.

68,056

0.0

7,215 

(1)

Harvard

Bioscience,

Inc.

31,024

0.0

8,883 

(1)

Health

Catalyst,

Inc.

89,896

0.0

13,000 

(1)

HealthEquity,

Inc.

949,650

0

.3

4,287 

HealthStream,

Inc.

92,513

0.0

15,919 

(1)

Heron

Therapeutics,

Inc.

16,397

0.0

3,570 

(1)

HilleVax,

Inc.

48,016

0.0

19,371 

(1)

Hims

&

Hers

Health,

Inc.

121,844

0.0

10,562 

(1)

Humacyte,

Inc.

30,947

0.0

4,708 

(1)

Icosavax,

Inc.

36,487

0.0

8,473 

(1)

Ideaya

Biosciences,

Inc.

228,602

0

.1

1,997 

(1)

IGM

Biosciences,

Inc.

16,675

0.0

4,245 

(1)

Ikena

Oncology,

Inc.

18,381

0.0

3,577 

(1)

Immuneering

Corp.

—

Class

A

27,471

0.0

18,987 

(1)(2)

ImmunityBio,

Inc.

32,088

0.0

37,048 

(1)

ImmunoGen,

Inc.

587,952

0

.2

8,414 

(1)

Immunovant,

Inc.

323,013

0

.1

8,233 

(1)

Inari

Medical,

Inc.

538,438

0

.2

3,078 

(1)

InfuSystem

Holdings,

Inc.

29,672

0.0

5,424 

(1)

Inhibrx,

Inc.

99,530

0.0

11,893 

(1)

Inmode

Ltd.

362,261

0

.1

3,302 

(1)

Innovage

Holding

Corp.

19,779

0.0

9,584 

(1)

Innoviva,

Inc.

124,496

0

.1

3,591 

(1)

Inogen,

Inc.

18,745

0.0

5,207 

(1)

Inozyme

Pharma,

Inc.

21,869

0.0

20,337 

(1)

Insmed,

Inc.

513,509

0

.2

5,123 

(1)

Integer

Holdings

Corp.

401,797

0

.1

13,516 

(1)

Intellia

Therapeutics,

Inc.

427,376

0

.1

6,596 

(1)

Intercept

Pharmaceuticals,

Inc.

122,290

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

14,452 

(1)

Intra-Cellular

Therapies,

Inc.

$

752,805

0

.2

40,654 

(1)

Invitae

Corp.

24,604

0.0

35,598 

(1)

Iovance

Biotherapeutics,

Inc.

161,971

0

.1

1,206 

iRadimed

Corp.

53,510

0.0

4,720 

(1)

iRhythm

Technologies,

Inc.

444,907

0

.1

21,433 

(1)

Ironwood

Pharmaceuticals,

Inc.

206,400

0

.1

4,130 

(1)

iTeos

Therapeutics,

Inc.

45,224

0.0

2,628 

(1)

Janux

Therapeutics,

Inc.

26,490

0.0

2,380 

(1)

Joint

Corp.

21,396

0.0

4,065 

(1)

KalVista

Pharmaceuticals,

Inc.

39,146

0.0

17,286 

(1)

Karyopharm

Therapeutics,

Inc.

23,163

0.0

3,559 

(1)

Keros

Therapeutics,

Inc.

113,461

0.0

5,068 

(1)

Kiniksa

Pharmaceuticals

Ltd.

—

Class

A

88,031

0.0

3,335 

(1)

Krystal

Biotech,

Inc.

386,860

0

.1

11,217 

(1)

Kura

Oncology,

Inc.

102,299

0.0

5,983 

(1)

Kymera

Therapeutics,

Inc.

83,164

0.0

10,501 

(1)

Lantheus

Holdings,

Inc.

729,609

0

.2

4,324 

(1)

Larimar

Therapeutics,

Inc.

17,080

0.0

3,170 

LeMaitre

Vascular,

Inc.

172,702

0

.1

13,901 

(1)

Lexicon

Pharmaceuticals,

Inc.

15,152

0.0

16,838 

(1)(2)

LifeStance

Health

Group,

Inc.

115,677

0.0

2,631 

(1)

Ligand

Pharmaceuticals,

Inc.

157,650

0

.1

21,329 

(1)

Lineage

Cell

Therapeutics,

Inc.

25,168

0.0

8,098 

(1)

Liquidia

Corp.

51,341

0.0

8,368 

(1)

LivaNova

PLC

442,500

0

.1

2,467 

(1)

Longboard

Pharmaceuticals,

Inc.

13,717

0.0

29,564 

(1)

Lyell

Immunopharma,

Inc.

43,459

0.0

9,958 

(1)

MacroGenics,

Inc.

46,404

0.0

2,104 

(1)

Madrigal

Pharmaceuticals,

Inc.

307,268

0

.1

40,221 

(1)

MannKind

Corp.

166,113

0

.1

8,219 

(1)

Marinus

Pharmaceuticals,

Inc.

66,163

0.0

13,562 

(1)

MaxCyte,

Inc.

42,313

0.0

5,223 

(1)

MeiraGTx

Holdings

PLC

25,645

0.0

8,753 

(1)

Merit

Medical

Systems,

Inc.

604,132

0

.2

15,147 

(1)

Mersana

Therapeutics,

Inc.

19,237

0.0

849 

Mesa

Laboratories,

Inc.

89,204

0.0

18,138 

(1)

MiMedx

Group,

Inc.

132,226

0

.1

2,190 

(1)

Mineralys

Therapeutics,

Inc.

20,827

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

13

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

3,954 

(1)

Mirum

Pharmaceuticals,

Inc.

$

124,946

0

.1

1,978 

(1)

ModivCare,

Inc.

62,327

0.0

4,824 

(1)

Monte

Rosa

Therapeutics,

Inc.

23,107

0.0

5,363 

(1)

Morphic

Holding,

Inc.

122,866

0.0

61,042 

(1)

Multiplan

Corp.

102,551

0.0

12,520 

(1)

Myriad

Genetics,

Inc.

200,821

0

.1

6,928 

(1)

NanoString

Technologies,

Inc.

11,916

0.0

7,657 

(1)(2)

Nano-X

Imaging

Ltd.

50,230

0.0

2,100 

National

HealthCare

Corp.

134,358

0

.1

2,408 

National

Research

Corp.

106,843

0.0

8,330 

(1)

Nautilus

Biotechnology,

Inc.

26,323

0.0

33,617 

(1)

Neogen

Corp.

623,259

0

.2

19,766 

(1)

NeoGenomics,

Inc.

243,122

0

.1

5,584 

(1)

Nevro

Corp.

107,324

0.0

8,642 

(1)

NextGen

Healthcare,

Inc.

205,075

0

.1

13,591 

(1)(2)

Novavax,

Inc.

98,399

0.0

7,844 

(1)

Nurix

Therapeutics,

Inc.

61,654

0.0

3,748 

(1)

Nuvalent,

Inc.

—

Class

A

172,296

0

.1

24,344 

(1)

Nuvation

Bio,

Inc.

32,621

0.0

12,945 

(1)

Ocular

Therapeutix,

Inc.

40,647

0.0

4,129 

(1)

Olema

Pharmaceuticals,

Inc.

50,993

0.0

3,781 

(1)

Omega

Therapeutics,

Inc.

8,129

0.0

9,276 

(1)

Omeros

Corp.

27,086

0.0

15,077 

(1)

OmniAb,

Inc.

78,250

0.0

6,911 

(1)

Omnicell,

Inc.

311,271

0

.1

63,349 

(1)

OPKO

Health,

Inc.

101,358

0.0

2,535 

(1)

OptimizeRx

Corp.

19,722

0.0

13,637 

(1)

Optinose,

Inc.

16,774

0.0

26,214 

(1)

Option

Care

Health,

Inc.

848,023

0

.3

11,682 

(1)

OraSure

Technologies,

Inc.

69,274

0.0

3,132 

(1)

Orchestra

BioMed

Holdings,

Inc.

27,311

0.0

11,240 

(1)

Organogenesis

Holdings,

Inc.

35,743

0.0

6,062 

(1)

ORIC

Pharmaceuticals,

Inc.

36,675

0.0

5,754 

(1)

Orthofix

Medical,

Inc.

73,996

0.0

2,588 

(1)

OrthoPediatrics

Corp.

82,816

0.0

7,912 

(1)

Outset

Medical,

Inc.

86,083

0.0

9,798 

(1)

Ovid

therapeutics,

Inc.

37,624

0.0

11,556 

(1)

Owens

&

Minor,

Inc.

186,745

0

.1

38,767 

(1)(2)

Pacific

Biosciences

of

California,

Inc.

323,704

0

.1

7,054 

(1)

Pacira

BioSciences,

Inc.

216,417

0

.1

6,967 

(1)

Paragon

28,

Inc.

87,436

0.0

13,368 

Patterson

Cos.,

Inc.

396,228

0

.1

4,277 

(1)(2)

PDS

Biotechnology

Corp.

21,599

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

13,292 

(1)

Pediatrix

Medical

Group,

Inc.

$

168,941

0

.1

4,913 

(1)

Pennant

Group,

Inc.

54,682

0.0

4,387 

(1)

PetIQ,

Inc.

86,424

0.0

5,114 

(1)(2)

Phathom

Pharmaceuticals,

Inc.

53,032

0.0

3,492 

Phibro

Animal

Health

Corp.

—

Class

A

44,593

0.0

7,956 

(1)

Phreesia,

Inc.

148,618

0

.1

8,886 

(1)

Pliant

Therapeutics,

Inc.

154,083

0

.1

6,453 

(1)

PMV

Pharmaceuticals,

Inc.

39,621

0.0

14,451 

(1)

Point

Biopharma

Global,

Inc.

96,388

0.0

10,618 

(1)

Poseida

Therapeutics,

Inc.

25,271

0.0

22,566 

(1)

Precigen,

Inc.

32,044

0.0

7,712 

(1)

Prestige

Consumer

Healthcare,

Inc.

441,049

0

.1

6,422 

(1)(2)

Prime

Medicine,

Inc.

61,266

0.0

17,064 

(1)

Privia

Health

Group,

Inc.

392,472

0

.1

5,632 

(1)

PROCEPT

BioRobotics

Corp.

184,786

0

.1

12,121 

(1)

Progyny,

Inc.

412,356

0

.1

7,185 

(1)

ProKidney

Corp.

32,907

0.0

8,900 

(1)

Protagonist

Therapeutics,

Inc.

148,452

0

.1

11,051 

(1)

Protalix

BioTherapeutics,

Inc.

18,345

0.0

6,397 

(1)

Prothena

Corp.

PLC

308,655

0

.1

10,961 

(1)

PTC

Therapeutics,

Inc.

245,636

0

.1

6,037 

(1)

Pulmonx

Corp.

62,362

0.0

5,482 

(1)

Quanterix

Corp.

148,781

0

.1

15,586 

(1)

Quantum-Si,

Inc.

25,873

0.0

6,748 

(1)

Quipt

Home

Medical

Corp.

34,347

0.0

9,168 

(1)

RadNet,

Inc.

258,446

0

.1

4,748 

(1)

Rallybio

Corp.

16,001

0.0

4,574 

(1)

RAPT

Therapeutics,

Inc.

76,020

0.0

21,198 

(1)

Recursion

Pharmaceuticals,

Inc.

—

Class

A

162,165

0

.1

6,455 

(1)

REGENXBIO,

Inc.

106,249

0.0

14,137 

(1)

Relay

Therapeutics,

Inc.

118,892

0.0

2,459 

(1)

Reneo

Pharmaceuticals,

Inc.

18,725

0.0

6,573 

(1)

Replimune

Group,

Inc.

112,464

0.0

13,014 

(1)

Revance

Therapeutics,

Inc.

149,271

0

.1

15,614 

(1)

REVOLUTION

Medicines,

Inc.

432,196

0

.1

8,005 

(1)

Rhythm

Pharmaceuticals,

Inc.

183,515

0

.1

27,406 

(1)

Rigel

Pharmaceuticals,

Inc.

29,598

0.0

8,738 

(1)

Rocket

Pharmaceuticals,

Inc.

179,042

0

.1

4,313 

(1)

RxSight,

Inc.

120,290

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

14

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

8,212 

(1)

Sage

Therapeutics,

Inc.

$

169,003

0

.1

14,159 

(1)

Sana

Biotechnology,

Inc.

54,795

0.0

659 

(1)

Sanara

Medtech,

Inc.

20,515

0.0

21,114 

(1)

Sangamo

Therapeutics,

Inc.

12,664

0.0

14,937 

(1)(2)

Savara,

Inc.

56,462

0.0

6,795 

(1)(2)

Scholar

Rock

Holding

Corp.

48,245

0.0

8,405 

(1)

Schrodinger,

Inc./United

States

237,609

0

.1

4,481 

(1)

scPharmaceuticals,

Inc.

31,905

0.0

9,039 

(1)

Seer,

Inc.

19,976

0.0

16,050 

Select

Medical

Holdings

Corp.

405,583

0

.1

18,730 

(1)

Selecta

Biosciences,

Inc.

19,854

0.0

796 

(1)

Semler

Scientific,

Inc.

20,195

0.0

16,516 

(1)

Seres

Therapeutics,

Inc.

39,308

0.0

51,422 

(1)

Sharecare,

Inc.

48,357

0.0

5,478 

(1)

SI-BONE,

Inc.

116,353

0.0

7,410 

(2)

SIGA

Technologies,

Inc.

38,902

0.0

6,079 

(1)

Silk

Road

Medical,

Inc.

91,124

0.0

2,538 

Simulations

Plus,

Inc.

105,835

0.0

24,014 

(1)

SomaLogic,

Inc.

57,393

0.0

9,024 

(1)

SpringWorks

Therapeutics,

Inc.

208,635

0

.1

7,466 

(1)

STAAR

Surgical

Co.

299,984

0

.1

4,245 

(1)

Stoke

Therapeutics,

Inc.

16,725

0.0

17,650 

(1)

Summit

Therapeutics,

Inc.

33,006

0.0

7,639 

(1)

Supernus

Pharmaceuticals,

Inc.

210,607

0

.1

10,404 

(1)

Surgery

Partners,

Inc.

304,317

0

.1

2,224 

(1)

Surmodics,

Inc.

71,368

0.0

9,386 

(1)

Sutro

Biopharma,

Inc.

32,569

0.0

10,274 

(1)

Syndax

Pharmaceuticals,

Inc.

149,178

0

.1

3,917 

(1)

Tactile

Systems

Technology,

Inc.

55,034

0.0

6,877 

(1)(2)

Tango

Therapeutics,

Inc.

77,435

0.0

1,439 

(1)

Taro

Pharmaceutical

Industries

Ltd.

54,265

0.0

3,713 

(1)

Tarsus

Pharmaceuticals,

Inc.

65,980

0.0

2,685 

(1)

Tela

Bio,

Inc.

21,480

0.0

7,055 

(1)

Tenaya

Therapeutics,

Inc.

17,990

0.0

7,298 

(1)

Terns

Pharmaceuticals,

Inc.

36,709

0.0

21,251 

(1)

TG

Therapeutics,

Inc.

177,658

0

.1

9,764 

(1)

Theravance

Biopharma,

Inc.

84,263

0.0

4,904 

(1)

TransMedics

Group,

Inc.

268,494

0

.1

11,547 

(1)

Travere

Therapeutics,

Inc.

103,230

0.0

7,233 

(1)

Treace

Medical

Concepts,

Inc.

94,825

0.0

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

6,609 

(1)

Trevi

Therapeutics,

Inc.

$

14,408

0.0

8,772 

(1)

Twist

Bioscience

Corp.

177,721

0

.1

2,369 

(1)

Tyra

Biosciences,

Inc.

32,621

0.0

1,120 

(1)

UFP

Technologies,

Inc.

180,824

0

.1

3,094 

(1)

UroGen

Pharma

Ltd.

43,347

0.0

2,235 

US

Physical

Therapy,

Inc.

205,017

0

.1

595 

Utah

Medical

Products,

Inc.

51,170

0.0

8,777 

(1)

Vanda

Pharmaceuticals,

Inc.

37,917

0.0

6,461 

(1)

Varex

Imaging

Corp.

121,402

0.0

14,455 

(1)

Vaxcyte,

Inc.

736,916

0

.2

7,235 

(1)

Ventyx

Biosciences,

Inc.

251,272

0

.1

5,415 

(1)

Vera

Therapeutics,

Inc.

74,240

0.0

11,166 

(1)

Veracyte,

Inc.

249,337

0

.1

7,359 

(1)

Vericel

Corp.

246,674

0

.1

3,374 

(1)

Verrica

Pharmaceuticals,

Inc.

13,108

0.0

8,005 

(1)

Verve

Therapeutics,

Inc.

106,146

0.0

6,325 

(1)

Viemed

Healthcare,

Inc.

42,567

0.0

2,554 

(1)

Vigil

Neuroscience,

Inc.

13,766

0.0

14,968 

(1)

Viking

Therapeutics,

Inc.

165,696

0

.1

13,122 

(1)

Vir

Biotechnology,

Inc.

122,953

0.0

6,684 

(1)

Viridian

Therapeutics,

Inc.

102,533

0.0

6,045 

(1)

Vor

BioPharma,

Inc.

12,815

0.0

5,409 

(1)(3)

Voyager

Therapeutics,

Inc.

41,920

0.0

9,198 

(1)

WaVe

Life

Sciences

Ltd.

52,888

0.0

18,743 

(1)

X4

Pharmaceuticals,

Inc.

20,430

0.0

9,071 

(1)

Xencor,

Inc.

182,781

0

.1

20,626 

(1)

Xeris

Biopharma

Holdings,

Inc.

38,364

0.0

1,210 

(1)

XOMA

Corp.

17,049

0.0

5,784 

(1)

Y-mAbs

Therapeutics,

Inc.

31,523

0.0

8,992 

(1)

Zentalis

Pharmaceuticals,

Inc.

180,380

0

.1

5,630 

(1)(2)

Zevra

Therapeutics,

Inc.

27,137

0.0

3,947 

(1)

Zimvie,

Inc.

37,141

0.0

1,915 

(1)

Zura

Bio

Ltd.

12,639

0.0

8,841 

(1)

Zymeworks,

Inc.

56,052

0.0

3,483 

(1)

Zynex,

Inc.

27,864

0.0

51,740,927

14

.5

Industrials

:

16

.5

%

9,370 

(1)

374Water,

Inc.

11,619

0.0

19,973 

(1)

3D

Systems

Corp.

98,067

0.0

10,472 

AAON,

Inc.

595,543

0

.2

5,352 

(1)

AAR

Corp.

318,605

0

.1

10,138 

ABM

Industries,

Inc.

405,621

0

.1

15,159 

ACCO

Brands

Corp.

87,013

0.0

19,612 

(1)

ACV

Auctions,

Inc.

—

Class

A

297,710

0

.1

3,985 

(1)

AeroVironment,

Inc.

444,447

0

.1

4,106 

(1)

AerSale

Corp.

61,344

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

15

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

8,898 

(1)

Air

Transport

Services

Group,

Inc.

$

185,701

0

.1

1,586 

Alamo

Group,

Inc.

274,156

0

.1

4,812 

Albany

International

Corp.

—

Class

A

415,179

0

.1

61,056 

(1)

Alight,

Inc.

—

Class

A

432,887

0

.1

2,459 

Allegiant

Travel

Co.

188,999

0

.1

2,239 

Allient,

Inc.

69,230

0.0

4,011 

Alta

Equipment

Group,

Inc.

48,373

0.0

4,994 

(1)

Ameresco,

Inc.

—

Class

A

192,569

0

.1

2,588 

(1)

American

Woodmark

Corp.

195,679

0

.1

32,142 

(1)

API

Group

Corp.

833,442

0

.2

3,548 

Apogee

Enterprises,

Inc.

167,040

0

.1

5,928 

Applied

Industrial

Technologies,

Inc.

916,528

0

.3

3,714 

ArcBest

Corp.

377,528

0

.1

23,886 

(1)

Archer

Aviation,

Inc.

—

Class

A

120,863

0.0

7,467 

Arcosa,

Inc.

536,877

0

.2

2,137 

Argan,

Inc.

97,276

0.0

5,039 

Aris

Water

Solutions,

Inc.

—

Class

A

50,289

0.0

23,393 

(1)

Array

Technologies,

Inc.

519,091

0

.2

7,371 

(1)

ASGN,

Inc.

602,063

0

.2

3,661 

Astec

Industries,

Inc.

172,470

0

.1

4,096 

(1)

Astronics

Corp.

64,963

0.0

2,976 

(1)

Asure

Software,

Inc.

28,153

0.0

5,933 

(1)

Atkore,

Inc.

885,144

0

.3

3,982 

AZZ,

Inc.

181,500

0

.1

9,470 

(1)

Babcock

&

Wilcox

Enterprises,

Inc.

39,869

0.0

7,653 

Barnes

Group,

Inc.

259,972

0

.1

1,158 

Barrett

Business

Services,

Inc.

104,498

0.0

8,304 

(1)

Beacon

Roofing

Supply,

Inc.

640,820

0

.2

18,322 

(1)

BlackSky

Technology,

Inc.

21,437

0.0

9,225 

(1)

Blade

Air

Mobility,

Inc.

23,893

0.0

8,510 

(1)(2)

Blink

Charging

Co.

26,041

0.0

29,520 

(1)

Bloom

Energy

Corp.

—

Class

A

391,435

0

.1

2,761 

(1)

Blue

Bird

Corp.

58,947

0.0

1,426 

(1)

BlueLinx

Holdings,

Inc.

117,060

0.0

6,089 

Boise

Cascade

Co.

627,411

0

.2

1,834 

(1)(2)

Bowman

Consulting

Group

Ltd.

51,407

0.0

7,089 

(1)

BrightView

Holdings,

Inc.

54,940

0.0

7,108 

Brink's

Co.

516,325

0

.2

4,489 

Brookfield

Business

Corp.

—

Class

A

81,161

0.0

3,315 

Cadre

Holdings,

Inc.

88,345

0.0

8,641 

(1)

Casella

Waste

Systems,

Inc.

—

Class

A

659,308

0

.2

7,404 

(1)

CBIZ,

Inc.

384,268

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

4,903 

(1)

CECO

Environmental

Corp.

$

78,301

0.0

6,636 

(1)

Chart

Industries,

Inc.

1,122,280

0

.3

2,785 

(1)

Cimpress

PLC

194,978

0

.1

3,137 

(1)

CIRCOR

International,

Inc.

174,888

0

.1

4,601 

Columbus

McKinnon

Corp.

160,621

0

.1

5,435 

Comfort

Systems

USA,

Inc.

926,178

0

.3

5,581 

(1)

Commercial

Vehicle

Group,

Inc.

43,309

0.0

4,870 

(1)

Concrete

Pumping

Holdings,

Inc.

41,785

0.0

27,853 

(1)

Conduent,

Inc.

96,928

0.0

6,265 

(1)

Construction

Partners,

Inc.

—

Class

A

229,048

0

.1

17,934 

(1)

CoreCivic,

Inc.

201,757

0

.1

8,443 

Costamare,

Inc.

81,222

0.0

1,439 

Covenant

Logistics

Group,

Inc.

63,100

0.0

1,154 

CRA

International,

Inc.

116,277

0.0

2,385 

CSW

Industrials,

Inc.

417,947

0

.1

10,742 

(1)

Custom

Truck

One

Source,

Inc.

66,600

0.0

6,568 

(1)

Daseke,

Inc.

33,694

0.0

7,094 

Deluxe

Corp.

134,006

0.0

45,323 

(1)(2)

Desktop

Metal,

Inc.

—

Class

A

66,172

0.0

1,724 

(1)

Distribution

Solutions

Group,

Inc.

44,824

0.0

3,896 

Douglas

Dynamics,

Inc.

117,581

0.0

2,036 

(1)

Ducommun,

Inc.

88,586

0.0

2,384 

(1)

DXP

Enterprises,

Inc.

83,297

0.0

4,412 

(1)

Dycom

Industries,

Inc.

392,668

0

.1

1,671 

Eagle

Bulk

Shipping,

Inc.

70,232

0.0

2,464 

Encore

Wire

Corp.

449,581

0

.1

8,709 

(1)

Energy

Recovery,

Inc.

184,718

0

.1

14,924 

(1)

Energy

Vault

Holdings,

Inc.

38,056

0.0

8,969 

Enerpac

Tool

Group

Corp.

237,051

0

.1

6,316 

EnerSys

597,936

0

.2

4,030 

Eneti,

Inc.

40,622

0.0

4,571 

Ennis,

Inc.

96,997

0.0

21,126 

(1)

Enovix

Corp.

265,131

0

.1

3,241 

EnPro

Industries,

Inc.

392,777

0

.1

12,424 

(1)

Enviri

Corp.

89,701

0.0

16,278 

(1)

Eos

Energy

Enterprises,

Inc.

34,998

0.0

3,965 

ESCO

Technologies,

Inc.

414,105

0

.1

14,697 

(1)

ESS

Tech,

Inc.

27,630

0.0

2,921 

(1)(2)

Eve

Holding,

Inc.

24,215

0.0

802 

(1)

EVI

Industries,

Inc.

19,906

0.0

7,755 

Exponent,

Inc.

663,828

0

.2

9,204 

Federal

Signal

Corp.

549,755

0

.2

8,957 

First

Advantage

Corp.

123,517

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

16

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

9,472 

(1)

FiscalNote

Holdings,

Inc.

$

19,702

0.0

6,127 

(1)(2)

Fluence

Energy,

Inc.

140,860

0.0

21,875 

(1)

Fluor

Corp.

802,812

0

.2

2,115 

(1)

Forrester

Research,

Inc.

61,123

0.0

4,069 

Forward

Air

Corp.

279,703

0

.1

2,029 

(1)

Franklin

Covey

Co.

87,085

0.0

7,097 

Franklin

Electric

Co.,

Inc.

633,265

0

.2

6,024 

(1)

Frontier

Group

Holdings,

Inc.

29,156

0.0

15,395 

FTAI

Aviation

Ltd.

547,292

0

.2

17,384 

FTAI

Infrastructure,

Inc.

55,976

0.0

9,670 

(1)

FTC

Solar,

Inc.

12,378

0.0

64,128 

(1)

FuelCell

Energy,

Inc.

82,084

0.0

5,483 

GATX

Corp.

596,715

0

.2

6,671 

Genco

Shipping

&

Trading

Ltd.

93,327

0.0

19,014 

(1)

GEO

Group,

Inc.

155,535

0

.1

4,772 

(1)

Gibraltar

Industries,

Inc.

322,158

0

.1

2,275 

Global

Industrial

Co.

76,212

0.0

6,356 

(1)

GMS,

Inc.

406,593

0

.1

19,499 

Golden

Ocean

Group

Ltd.

153,652

0

.1

3,972 

Gorman-Rupp

Co.

130,679

0.0

30,817 

GrafTech

International

Ltd.

118,029

0.0

6,943 

Granite

Construction,

Inc.

263,973

0

.1

10,364 

(1)

Great

Lakes

Dredge

&

Dock

Corp.

82,601

0.0

4,850 

Greenbrier

Cos.,

Inc.

194,000

0

.1

6,870 

Griffon

Corp.

272,533

0

.1

5,036 

H&E

Equipment

Services,

Inc.

217,505

0

.1

8,068 

(1)

Hawaiian

Holdings,

Inc.

51,070

0.0

11,763 

Healthcare

Services

Group,

Inc.

122,688

0.0

8,196 

Heartland

Express,

Inc.

120,399

0.0

3,424 

Heidrick

&

Struggles

International,

Inc.

85,668

0.0

5,095 

Helios

Technologies,

Inc.

282,671

0

.1

4,331 

Herc

Holdings,

Inc.

515,129

0

.2

2,755 

(1)

Heritage-Crystal

Clean,

Inc.

124,939

0.0

10,589 

Hillenbrand,

Inc.

448,021

0

.1

29,749 

(1)

Hillman

Solutions

Corp.

245,429

0

.1

7,247 

HNI

Corp.

250,964

0

.1

4,881 

(1)

Hub

Group,

Inc.

—

Class

A

383,354

0

.1

7,209 

(1)

Hudson

Technologies,

Inc.

95,880

0.0

2,994 

(1)

Huron

Consulting

Group,

Inc.

311,855

0

.1

23,704 

(1)

Hyliion

Holdings

Corp.

27,971

0.0

1,804 

Hyster-Yale

Materials

Handling,

Inc.

80,422

0.0

1,761 

(1)

IBEX

Holdings

Ltd.

27,207

0.0

2,897 

ICF

International,

Inc.

349,987

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

1,388 

(1)

IES

Holdings,

Inc.

$

91,428

0.0

3,817 

(1)

Innodata,

Inc.

32,559

0.0

11,204 

(1)

INNOVATE

Corp.

18,150

0.0

5,574 

Insperity,

Inc.

544,022

0

.2

3,165 

Insteel

Industries,

Inc.

102,736

0.0

9,410 

Interface,

Inc.

92,312

0.0

13,277 

(1)

Janus

International

Group,

Inc.

142,064

0.0

13,272 

(1)

JELD-WEN

Holding,

Inc.

177,314

0

.1

50,485 

(1)

JetBlue

Airways

Corp.

232,231

0

.1

42,984 

(1)

Joby

Aviation,

Inc.

277,247

0

.1

4,874 

John

Bean

Technologies

Corp.

512,452

0

.2

1,799 

Kadant,

Inc.

405,764

0

.1

4,680 

Kaman

Corp.

91,962

0.0

5,453 

Kelly

Services,

Inc.

—

Class

A

99,190

0.0

12,274 

Kennametal,

Inc.

305,377

0

.1

3,020 

Kforce,

Inc.

180,173

0

.1

8,016 

Korn

Ferry

380,279

0

.1

19,400 

(1)

Kratos

Defense

&

Security

Solutions,

Inc.

291,388

0

.1

3,035 

(1)

LanzaTech

Global,

Inc.

14,173

0.0

16,152 

(1)

Legalzoom.com,

Inc.

176,703

0

.1

8,134 

(1)

Leonardo

DRS,

Inc.

135,838

0.0

21,294 

(1)(2)

Li-Cycle

Holdings

Corp.

75,594

0.0

1,455 

(1)

Limbach

Holdings,

Inc.

46,167

0.0

1,727 

Lindsay

Corp.

203,233

0

.1

3,828 

(1)

Liquidity

Services,

Inc.

67,449

0.0

4,472 

LSI

Industries,

Inc.

71,015

0.0

4,456 

Luxfer

Holdings

PLC

58,151

0.0

5,756 

(1)

Manitowoc

Co.,

Inc.

86,628

0.0

9,485 

Marten

Transport

Ltd.

186,949

0

.1

3,460 

(1)

Masonite

International

Corp.

322,541

0

.1

20,171 

(1)

Masterbrand,

Inc.

245,078

0

.1

5,512 

Matson,

Inc.

489,025

0

.1

4,766 

Matthews

International

Corp.

—

Class

A

185,445

0

.1

1,763 

(1)

Mayville

Engineering

Co.,

Inc.

19,340

0.0

3,850 

McGrath

RentCorp

385,924

0

.1

16,659 

(1)

Microvast

Holdings,

Inc.

31,486

0.0

2,050 

Miller

Industries,

Inc.

80,380

0.0

11,785 

MillerKnoll,

Inc.

288,143

0

.1

4,369 

(1)

Montrose

Environmental

Group,

Inc.

127,837

0.0

4,381 

Moog,

Inc.

—

Class

A

494,878

0

.1

13,578 

(1)

MRC

Global,

Inc.

139,174

0.0

8,609 

Mueller

Industries,

Inc.

647,052

0

.2

23,906 

Mueller

Water

Products,

Inc.

—

Class

A

303,128

0

.1

2,552 

(1)

MYR

Group,

Inc.

343,908

0

.1

874 

National

Presto

Industries,

Inc.

63,330

0.0

7,618 

(1)

NEXTracker,

Inc.

—

Class

A

305,939

0

.1

96,820 

(1)(2)

Nikola

Corp.

152,007

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

17

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

1,715 

(1)

Northwest

Pipe

Co.

$

51,742

0.0

17,004 

(1)

NOW,

Inc.

201,837

0

.1

9,064 

(1)(2)

NuScale

Power

Corp.

44,414

0.0

2,131 

(1)

NV5

Global,

Inc.

205,066

0

.1

543 

Omega

Flex,

Inc.

42,750

0.0

16,653 

(1)

OPENLANE,

Inc.

248,463

0

.1

6,093 

Pangaea

Logistics

Solutions

Ltd.

35,827

0.0

3,506 

Park

Aerospace

Corp.

54,448

0.0

6,374 

(1)

Parsons

Corp.

346,427

0

.1

10,779 

(1)

Performant

Financial

Corp.

24,361

0.0

8,932 

(1)

PGT

Innovations,

Inc.

247,863

0

.1

27,768 

Pitney

Bowes,

Inc.

83,859

0.0

27,515 

(1)

Planet

Labs

PBC

71,539

0.0

1,501 

Powell

Industries,

Inc.

124,433

0.0

407 

Preformed

Line

Products

Co.

66,170

0.0

8,361 

Primoris

Services

Corp.

273,656

0

.1

4,186 

(1)

Proto

Labs,

Inc.

110,510

0.0

5,525 

(1)

Quad/Graphics,

Inc.

27,791

0.0

5,427 

Quanex

Building

Products

Corp.

152,879

0

.1

6,764 

(1)

Radiant

Logistics,

Inc.

38,217

0.0

22,511 

(1)

Resideo

Technologies,

Inc.

355,674

0

.1

5,776 

Resources

Connection,

Inc.

86,120

0.0

5,127 

REV

Group,

Inc.

82,032

0.0

43,040 

(1)

Rocket

Lab

USA,

Inc.

188,515

0

.1

10,705 

Rush

Enterprises,

Inc.

—

Class

A

437,085

0

.1

583 

Rush

Enterprises,

Inc.

—

Class

B

26,404

0.0

18,031 

(1)

RXO,

Inc.

355,752

0

.1

19,099 

(1)

SES

AI

Corp.

43,355

0.0

26,459 

(1)

Shoals

Technologies

Group,

Inc.

—

Class

A

482,877

0

.1

5,476 

Shyft

Group,

Inc.

81,976

0.0

6,591 

Simpson

Manufacturing

Co.,

Inc.

987,398

0

.3

6,815 

(1)

SkyWest,

Inc.

285,821

0

.1

11,312 

(1)

SKYX

Platforms

Corp.

16,063

0.0

3,231 

(1)

SP

Plus

Corp.

116,639

0.0

17,034 

Spirit

Airlines,

Inc.

281,061

0

.1

6,785 

(1)

SPX

Technologies,

Inc.

552,299

0

.2

1,868 

Standex

International

Corp.

272,149

0

.1

14,413 

Steelcase,

Inc.

—

Class

A

160,993

0

.1

21,850 

(1)(2)

Stem,

Inc.

92,644

0.0

4,907 

(1)

Sterling

Check

Corp.

61,926

0.0

4,665 

(1)

Sterling

Infrastructure,

Inc.

342,784

0

.1

6,125 

(1)

Sun

Country

Airlines

Holdings,

Inc.

90,895

0.0

13,663 

(1)(2)

SunPower

Corp.

84,301

0.0

2,921 

Tennant

Co.

216,592

0

.1

10,296 

Terex

Corp.

593,256

0

.2

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Industrials:

(continued)

13,312 

(1)

Terran

Orbital

Corp.

$

11,081

0.0

6,741 

Textainer

Group

Holdings

Ltd.

251,102

0

.1

5,553 

(1)

Thermon

Group

Holdings,

Inc.

152,541

0.0

8,384 

(1)

Titan

International,

Inc.

112,597

0.0

3,323 

(1)

Titan

Machinery,

Inc.

88,325

0.0

6,283 

(1)

TPI

Composites,

Inc.

16,650

0.0

1,212 

(1)

Transcat,

Inc.

118,740

0.0

5,778 

(1)

TriNet

Group,

Inc.

673,021

0

.2

12,585 

Trinity

Industries,

Inc.

306,445

0

.1

8,395 

Triton

International

Ltd.

690,661

0

.2

10,023 

(1)

Triumph

Group,

Inc.

76,776

0.0

5,333 

(1)

TrueBlue,

Inc.

78,235

0.0

3,102 

TTEC

Holdings,

Inc.

81,334

0.0

27,824 

(1)

TuSimple

Holdings,

Inc.

—

Class

A

43,405

0.0

7,325 

(1)

Tutor

Perini

Corp.

57,355

0.0

9,181 

UFP

Industries,

Inc.

940,134

0

.3

2,304 

UniFirst

Corp.

375,575

0

.1

18,978 

(1)

Upwork,

Inc.

215,590

0

.1

1,992 

(1)

V2X,

Inc.

102,907

0.0

13,353 

(1)

Velo3D,

Inc.

20,831

0.0

2,033 

Veritiv

Corp.

343,374

0

.1

21,551 

(1)

Verra

Mobility

Corp.

403,004

0

.1

3,378 

(1)

Viad

Corp.

88,504

0.0

3,439 

(1)

Vicor

Corp.

202,523

0

.1

38,007 

(1)(2)

Virgin

Galactic

Holdings,

Inc.

68,413

0.0

1,949 

VSE

Corp.

98,308

0.0

7,561 

Wabash

National

Corp.

159,688

0

.1

4,174 

Watts

Water

Technologies,

Inc.

—

Class

A

721,351

0

.2

9,791 

Werner

Enterprises,

Inc.

381,359

0

.1

1,952 

(1)

Willdan

Group,

Inc.

39,879

0.0

5,445 

(1)

Xometry,

Inc.

—

Class

A

92,456

0.0

22,609 

Zurn

Elkay

Water

Solutions

Corp.

633,504

0

.2

58,794,205

16

.5

Information

Technology

:

13

.7

%

18,836 

(1)

8x8,

Inc.

47,467

0.0

3,699 

(1)

908

Devices,

Inc.

24,635

0.0

11,092 

A10

Networks,

Inc.

166,713

0

.1

16,899 

(1)

ACI

Worldwide,

Inc.

381,241

0

.1

7,521 

(1)

ACM

Research,

Inc.

—

Class

A

136,168

0.0

16,783 

Adeia,

Inc.

179,242

0

.1

12,559 

ADTRAN

Holdings,

Inc.

103,361

0.0

5,775 

Advanced

Energy

Industries,

Inc.

595,518

0

.2

4,017 

(1)(2)

Aehr

Test

Systems

183,577

0

.1

3,163 

(1)

Agilysys,

Inc.

209,264

0

.1

7,384 

(1)

Alarm.com

Holdings,

Inc.

451,458

0

.1

6,358 

(1)

Alkami

Technology,

Inc.

115,843

0.0

3,780 

(1)

Alpha

&

Omega

Semiconductor

Ltd.

112,795

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

18

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

8,267 

(1)

Altair

Engineering,

Inc.

—

Class

A

$

517,184

0

.2

5,769 

(1)

Ambarella,

Inc.

305,930

0

.1

5,288 

American

Software,

Inc.

—

Class

A

60,600

0.0

15,857 

Amkor

Technology,

Inc.

358,368

0

.1

10,552 

(1)

Amplitude,

Inc.

—

Class

A

122,087

0.0

2,965 

(1)

Appfolio,

Inc.

—

Class

A

541,498

0

.2

6,323 

(1)

Appian

Corp.

—

Class

A

288,392

0

.1

10,961 

(1)

Applied

Digital

Corp.

68,397

0.0

13,717 

(1)

Arlo

Technologies,

Inc.

141,285

0.0

12,166 

(1)

Asana,

Inc.

—

Class

A

222,759

0

.1

3,289 

(1)(2)

Atomera,

Inc.

20,589

0.0

51,887 

(1)

Aurora

Innovation,

Inc.

121,934

0.0

24,133 

(1)

AvePoint,

Inc.

162,174

0

.1

1,856 

(1)

Aviat

Networks,

Inc.

57,907

0.0

5,326 

(1)

Avid

Technology,

Inc.

143,110

0.0

5,032 

(1)

Axcelis

Technologies,

Inc.

820,468

0

.2

4,540 

Badger

Meter,

Inc.

653,170

0

.2

1,705 

Bel

Fuse,

Inc.

—

Class

B

81,363

0.0

6,528 

Belden,

Inc.

630,278

0

.2

5,919 

Benchmark

Electronics,

Inc.

143,595

0.0

10,660 

(1)

BigCommerce

Holdings,

Inc.

105,214

0.0

10,852 

(1)

Bit

Digital,

Inc.

23,223

0.0

6,778 

(1)

Blackbaud,

Inc.

476,629

0

.1

8,633 

(1)

Blackline,

Inc.

478,872

0

.1

21,691 

(1)

Box,

Inc.

—

Class

A

525,139

0

.2

7,991 

(1)

Braze,

Inc.

—

Class

A

373,419

0

.1

7,480 

(1)

Brightcove,

Inc.

24,609

0.0

9,307 

(1)(2)

C3.ai,

Inc.

—

Class

A

237,515

0

.1

9,089 

(1)

Calix,

Inc.

416,640

0

.1

6,297 

(1)

Cerence,

Inc.

128,270

0.0

4,035 

(1)

CEVA,

Inc.

78,239

0.0

6,442 

(1)(2)

Cipher

Mining,

Inc.

15,010

0.0

16,626 

(1)

Cleanspark,

Inc.

63,345

0.0

12,843 

Clear

Secure,

Inc.

—

Class

A

244,531

0

.1

2,124 

(1)

Clearfield,

Inc.

60,874

0.0

711 

Climb

Global

Solutions,

Inc.

30,580

0.0

7,356 

(1)

Cohu,

Inc.

253,341

0

.1

32,877 

(1)

CommScope

Holding

Co.,

Inc.

110,467

0.0

6,837 

(1)

CommVault

Systems,

Inc.

462,250

0

.1

4,457 

Comtech

Telecommunications

Corp.

38,999

0.0

3,242 

(1)

Consensus

Cloud

Solutions,

Inc.

81,634

0.0

5,934 

(1)

Corsair

Gaming,

Inc.

86,221

0.0

5,377 

(1)

Couchbase,

Inc.

92,269

0.0

15,187 

(1)

Credo

Technology

Group

Holding

Ltd.

231,602

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

3,846 

(1)

CS

Disco,

Inc.

$

25,537

0.0

4,868 

CSG

Systems

International,

Inc.

248,852

0

.1

4,977 

CTS

Corp.

207,740

0

.1

6,162 

(1)

Daktronics,

Inc.

54,965

0.0

5,560 

(1)

Digi

International,

Inc.

150,120

0

.1

2,249 

(1)

Digimarc

Corp.

73,070

0.0

15,074 

(1)

Digital

Turbine,

Inc.

91,198

0.0

9,845 

(1)(2)

DigitalOcean

Holdings,

Inc.

236,575

0

.1

6,910 

(1)

Diodes,

Inc.

544,784

0

.2

5,099 

(1)

Domo,

Inc.

—

Class

B

50,021

0.0

27,826 

(1)

E2open

Parent

Holdings,

Inc.

126,330

0.0

9,620 

(1)

Eastman

Kodak

Co.

40,500

0.0

4,012 

Ebix,

Inc.

39,639

0.0

6,034 

(1)

Enfusion,

Inc.

—

Class

A

54,125

0.0

7,635 

(1)

EngageSmart,

Inc.

137,354

0.0

7,815 

(1)

Envestnet,

Inc.

344,094

0

.1

4,158 

(1)

ePlus,

Inc.

264,116

0

.1

6,357 

(1)

Everbridge,

Inc.

142,524

0.0

3,932 

(1)

EverCommerce,

Inc.

39,438

0.0

10,077 

EVERTEC,

Inc.

374,663

0

.1

17,983 

(1)

Evolv

Technologies

Holdings,

Inc.

87,397

0.0

24,797 

(1)

ExlService

Holdings,

Inc.

695,308

0

.2

8,343 

(1)

Expensify,

Inc.

—

Class

A

27,115

0.0

19,493 

(1)

Extreme

Networks,

Inc.

471,926

0

.1

5,678 

(1)

Fannie

Mae

946,068

0

.3

3,085 

(1)

FARO

Technologies,

Inc.

46,985

0.0

18,318 

(1)

Fastly,

Inc.

—

Class

A

351,156

0

.1

11,879 

(1)

FormFactor,

Inc.

415,052

0

.1

24,877 

(1)

Freshworks,

Inc.

—

Class

A

495,550

0

.1

8,811 

(1)

Grid

Dynamics

Holdings,

Inc.

107,318

0.0

4,333 

Hackett

Group,

Inc.

102,215

0.0

17,308 

(1)

Harmonic,

Inc.

166,676

0

.1

3,680 

(1)

I3

Verticals,

Inc.

—

Class

A

77,795

0.0

4,633 

(1)

Ichor

Holdings

Ltd.

143,438

0.0

5,121 

Immersion

Corp.

33,850

0.0

3,571 

(1)

Impinj,

Inc.

196,512

0

.1

21,586 

(1)

indie

Semiconductor,

Inc.

—

Class

A

135,992

0.0

31,593 

(1)(2)

Infinera

Corp.

132,059

0.0

4,441 

(1)

Insight

Enterprises,

Inc.

646,165

0

.2

3,322 

(1)

Instructure

Holdings,

Inc.

84,379

0.0

3,442 

(1)

Intapp,

Inc.

115,376

0.0

4,158 

InterDigital,

Inc.

333,638

0

.1

1,661 

(1)

inTEST

Corp.

25,197

0.0

24,810 

(1)(2)

IonQ,

Inc.

369,173

0

.1

7,461 

(1)

Iteris,

Inc.

30,889

0.0

7,003 

(1)

Itron,

Inc.

424,242

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

19

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

10,823 

(1)

Jamf

Holding

Corp.

$

191,134

0

.1

13,762 

(1)

Kaltura,

Inc.

23,808

0.0

4,089 

(1)

Kimball

Electronics,

Inc.

111,957

0.0

14,068 

(1)

Knowles

Corp.

208,347

0

.1

8,559 

Kulicke

&

Soffa

Industries,

Inc.

416,224

0

.1

18,305 

(1)(2)

Lightwave

Logic,

Inc.

81,823

0.0

10,915 

(1)

LivePerson,

Inc.

42,459

0.0

10,113 

(1)

LiveRamp

Holdings,

Inc.

291,659

0

.1

5,051 

(1)

Luna

Innovations,

Inc.

29,599

0.0

8,414 

(1)

MACOM

Technology

Solutions

Holdings,

Inc.

686,414

0

.2

26,391 

(1)

Marathon

Digital

Holdings,

Inc.

224,323

0

.1

39,525 

(1)

Matterport,

Inc.

85,769

0.0

4,742 

(1)

Maxeon

Solar

Technologies

Ltd.

54,960

0.0

9,315 

Maximus,

Inc.

695,644

0

.2

11,475 

(1)

MaxLinear,

Inc.

255,319

0

.1

4,451 

(1)

MeridianLink,

Inc.

75,934

0.0

5,657 

Methode

Electronics,

Inc.

129,262

0.0

1,707 

(1)(2)

MicroStrategy,

Inc.

—

Class

A

560,374

0

.2

28,464 

(1)(2)

MicroVision,

Inc.

62,336

0.0

31,096 

(1)

Mirion

Technologies,

Inc.

232,287

0

.1

6,710 

(1)

Mitek

Systems,

Inc.

71,931

0.0

6,021 

(1)

Model

N,

Inc.

146,973

0

.1

10,969 

(1)

N-able,

Inc.

141,500

0.0

5,003 

Napco

Security

Technologies,

Inc.

111,317

0.0

16,955 

(1)

Navitas

Semiconductor

Corp.

117,837

0.0

4,726 

(1)

NETGEAR,

Inc.

59,500

0.0

10,692 

(1)

NetScout

Systems,

Inc.

299,590

0

.1

8,497 

(1)

NextNav,

Inc.

43,675

0.0

7,311 

(1)

nLight,

Inc.

76,034

0.0

5,506 

(1)

Novanta,

Inc.

789,781

0

.2

811 

NVE

Corp.

66,616

0.0

16,342 

(1)

Olo,

Inc.

—

Class

A

99,033

0.0

5,911 

ON24,

Inc.

37,417

0.0

6,602 

(1)

OneSpan,

Inc.

70,971

0.0

7,562 

(1)

Onto

Innovation,

Inc.

964,306

0

.3

2,500 

(1)

OSI

Systems,

Inc.

295,100

0

.1

13,506 

(1)

PagerDuty,

Inc.

303,750

0

.1

4,189 

(1)(2)

PAR

Technology

Corp.

161,444

0

.1

1,991 

PC

Connection,

Inc.

106,280

0.0

4,921 

(1)

PDF

Solutions,

Inc.

159,440

0

.1

5,319 

(1)

Perficient,

Inc.

307,757

0

.1

9,685 

(1)

Photronics,

Inc.

195,734

0

.1

4,258 

(1)

Plexus

Corp.

395,909

0

.1

8,737 

Power

Integrations,

Inc.

666,720

0

.2

8,736 

(1)

PowerSchool

Holdings,

Inc.

—

Class

A

197,958

0

.1

6,699 

Progress

Software

Corp.

352,233

0

.1

6,952 

(1)

PROS

Holdings,

Inc.

240,678

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

8,713 

(1)

Q2

Holdings,

Inc.

$

281,168

0

.1

5,706 

(1)

Qualys,

Inc.

870,450

0

.3

10,137 

(1)

Rackspace

Technology,

Inc.

23,822

0.0

16,851 

(1)

Rambus,

Inc.

940,117

0

.3

9,237 

(1)

Rapid7,

Inc.

422,870

0

.1

1,851 

(1)

Red

Violet,

Inc.

37,038

0.0

13,051 

(1)

Repay

Holdings

Corp.

99,057

0.0

15,526 

(1)

Ribbon

Communications,

Inc.

41,610

0.0

1,884 

Richardson

Electronics

Ltd./United

States

20,592

0.0

8,324 

(1)

Rimini

Street,

Inc.

18,313

0.0

26,296 

(1)

Riot

Platforms,

Inc.

245,342

0

.1

2,676 

(1)

Rogers

Corp.

351,814

0

.1

50,977 

(1)

Sabre

Corp.

228,887

0

.1

8,873 

(1)

Sanmina

Corp.

481,626

0

.1

4,885 

Sapiens

International

Corp.

NV

138,881

0.0

4,292 

(1)

ScanSource,

Inc.

130,091

0.0

5,306 

(1)

SEMrush

Holdings,

Inc.

—

Class

A

45,101

0.0

9,867 

(1)

Semtech

Corp.

254,075

0

.1

4,884 

(1)

Silicon

Laboratories,

Inc.

566,007

0

.2

2,643 

(1)

SiTime

Corp.

301,963

0

.1

7,518 

(1)

SMART

Global

Holdings,

Inc.

183,063

0

.1

29,615 

(1)

SmartRent,

Inc.

77,295

0.0

8,450 

(1)

SolarWinds

Corp.

79,768

0.0

21,133 

(1)(2)

SoundHound

AI,

Inc.

—

Class

A

42,477

0.0

1,449 

(1)

SoundThinking,

Inc.

25,937

0.0

15,670 

(1)

Sprinklr,

Inc.

—

Class

A

216,873

0

.1

7,327 

(1)

Sprout

Social,

Inc.

—

Class

A

365,471

0

.1

5,641 

(1)

SPS

Commerce,

Inc.

962,411

0

.3

6,997 

(1)

Squarespace,

Inc.

—

Class

A

202,703

0

.1

7,180 

(1)

Super

Micro

Computer,

Inc.

1,968,900

0

.6

6,031 

(1)

Synaptics,

Inc.

539,413

0

.2

17,574 

(1)

Tenable

Holdings,

Inc.

787,315

0

.2

20,592 

(1)

Terawulf,

Inc.

25,946

0.0

15,194 

(1)

Thoughtworks

Holding,

Inc.

61,992

0.0

15,961 

(1)

T

TM

Technologies,

Inc.

205,578

0

.1

1,589 

(1)

Tucows,

Inc.

—

Class

A

32,431

0.0

2,650 

(1)

Turtle

Beach

Corp.

24,049

0.0

7,046 

(1)

Ultra

Clean

Holdings,

Inc.

209,055

0

.1

10,564 

(1)

Unisys

Corp.

36,446

0.0

16,706 

(1)

Varonis

Systems,

Inc.

510,201

0

.2

8,141 

(1)

Veeco

Instruments,

Inc.

228,843

0

.1

9,857 

(1)

Verint

Systems,

Inc.

226,612

0

.1

34,570 

(1)

Viavi

Solutions,

Inc.

315,970

0

.1

19,707 

Vishay

Intertechnology,

Inc.

487,157

0

.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

20

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

2,315 

(1)

Vishay

Precision

Group,

Inc.

$

77,738

0.0

9,328 

(1)(2)

Vuzix

Corp.

33,861

0.0

5,035 

(1)

Weave

Communications,

Inc.

41,035

0.0

7,528 

(1)

Workiva,

Inc.

762,887

0

.2

17,731 

Xerox

Holdings

Corp.

278,199

0

.1

6,938 

(1)

Xperi,

Inc.

68,409

0.0

17,118 

(1)

Yext,

Inc.

108,357

0.0

21,295 

(1)

Zeta

Global

Holdings

Corp.

—

Class

A

177,813

0

.1

19,842 

(1)

Zuora,

Inc.

—

Class

A

163,498

0

.1

48,680,021

13

.7

Materials

:

4

.5

%

6,188 

(1)

5E

Advanced

Materials,

Inc.

13,985

0.0

4,231 

AdvanSix,

Inc.

131,500

0.0

1,928 

Alpha

Metallurgical

Resources,

Inc.

500,759

0

.2

4,812 

American

Vanguard

Corp.

52,595

0.0

2,824 

Arch

Resources,

Inc.

481,944

0

.1

8,022 

(1)

Aspen

Aerogels,

Inc.

68,989

0.0

19,848 

(1)

ATI,

Inc.

816,745

0

.2

13,750 

Avient

Corp.

485,650

0

.1

4,922 

Balchem

Corp.

610,525

0

.2

8,469 

Cabot

Corp.

586,648

0

.2

2,660 

Caledonia

Mining

Corp.

PLC

26,228

0.0

7,408 

Carpenter

Technology

Corp.

497,892

0

.1

8,561 

(1)

Century

Aluminum

Co.

61,554

0.0

1,190 

Chase

Corp.

151,404

0

.1

2,819 

(1)

Clearwater

Paper

Corp.

102,189

0.0

51,983 

(1)

Coeur

Mining,

Inc.

115,402

0.0

18,005 

Commercial

Metals

Co.

889,627

0

.3

5,395 

Compass

Minerals

International,

Inc.

150,790

0

.1

19,610 

(1)

Constellium

SE

356,902

0

.1

1,352 

(1)

Core

Molding

Technologies,

Inc.

38,518

0.0

9,342 

(1)

Dakota

Gold

Corp.

24,102

0.0

13,464 

(1)(2)

Danimer

Scientific,

Inc.

27,871

0.0

14,959 

(1)

Ecovyst,

Inc.

147,197

0

.1

4,165 

FutureFuel

Corp.

29,863

0.0

7,949 

(1)

Glatfelter

Corp.

15,898

0.0

4,561 

Greif,

Inc.

—

Class

A

304,720

0

.1

3,099 

Hawkins,

Inc.

182,376

0

.1

2,172 

Haynes

International,

Inc.

101,041

0.0

8,231 

HB

Fuller

Co.

564,729

0

.2

93,913 

Hecla

Mining

Co.

367,200

0

.1

33,877 

(1)

i-80

Gold

Corp.

51,832

0.0

5,733 

(1)

Ingevity

Corp.

272,948

0

.1

3,860 

Innospec,

Inc.

394,492

0

.1

1,739 

(1)

Intrepid

Potash,

Inc.

43,753

0.0

8,849 

(1)

Ivanhoe

Electric,

Inc.

/

US

105,303

0.0

2,485 

Kaiser

Aluminum

Corp.

187,021

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Materials:

(continued)

8,703 

(1)

Knife

River

Corp.

$

424,968

0

.1

3,315 

Koppers

Holdings,

Inc.

131,108

0.0

27,742 

(1)(2)

Livent

Corp.

510,730

0

.2

9,207 

(1)

LSB

Industries,

Inc.

94,188

0.0

3,192 

Materion

Corp.

325,297

0

.1

8,694 

Mativ

Holdings,

Inc.

123,976

0.0

5,043 

Minerals

Technologies,

Inc.

276,155

0

.1

6,205 

Myers

Industries,

Inc.

111,256

0.0

38,610 

(1)

Novagold

Resources,

Inc.

148,262

0

.1

23,908 

(1)

O-I

Glass,

Inc.

399,981

0

.1

1,616 

Olympic

Steel,

Inc.

90,835

0.0

15,817 

(1)

Origin

Materials,

Inc.

20,246

0.0

8,951 

Orion

SA

190,477

0

.1

6,740 

Pactiv

Evergreen,

Inc.

54,796

0.0

24,735 

(1)

Perimeter

Solutions

SA

112,297

0.0

6,190 

(1)

Perpetua

Resources

Corp.

20,179

0.0

2,843 

(1)

Piedmont

Lithium,

Inc.

112,867

0.0

18,270 

(1)(2)

PureCycle

Technologies,

Inc.

102,495

0.0

2,133 

Quaker

Chemical

Corp.

341,280

0

.1

4,444 

Ramaco

Resources,

Inc.

—

Class

A

48,840

0.0

7,355 

(1)

Ranpak

Holdings

Corp.

40,011

0.0

9,949 

(1)

Rayonier

Advanced

Materials,

Inc.

35,219

0.0

3,691 

Ryerson

Holding

Corp.

107,371

0.0

4,246 

Schnitzer

Steel

Industries,

Inc.

—

Class

A

118,251

0.0

6,454 

Sensient

Technologies

Corp.

377,430

0

.1

3,327 

Stepan

Co.

249,425

0

.1

18,337 

(1)

Summit

Materials,

Inc.

—

Class

A

571,014

0

.2

13,722 

SunCoke

Energy,

Inc.

139,278

0.0

5,599 

Sylvamo

Corp.

246,020

0

.1

6,925 

(1)

TimkenSteel

Corp.

150,411

0

.1

6,782 

TriMas

Corp.

167,922

0

.1

5,409 

Trinseo

PLC

44,192

0.0

18,151 

Tronox

Holdings

PLC

243,949

0

.1

367 

United

States

Lime

&

Minerals,

Inc.

73,767

0.0

8,021 

Warrior

Met

Coal,

Inc.

409,713

0

.1

4,780 

Worthington

Industries,

Inc.

295,500

0

.1

15,869,898

4

.5

Real

Estate

:

5

.9

%

14,513 

Acadia

Realty

Trust

208,262

0

.1

11,781 

Alexander

&

Baldwin,

Inc.

197,096

0

.1

406 

Alexander's,

Inc.

73,985

0.0

7,846 

American

Assets

Trust,

Inc.

152,605

0

.1

17,050 

(1)

Anywhere

Real

Estate,

Inc.

109,632

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

21

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Real

Estate:

(continued)

23,380 

(1)

Apartment

Investment

and

Management

Co.

—

Class

A

$

158,984

0

.1

32,661 

Apple

Hospitality

REIT,

Inc.

501,020

0

.1

11,697 

Armada

Hoffler

Properties,

Inc.

119,777

0.0

10,581 

Braemar

Hotels

&

Resorts,

Inc.

29,309

0.0

27,493 

Brandywine

Realty

Trust

124,818

0.0

28,793 

Broadstone

Net

Lease,

Inc.

411,740

0

.1

15,498 

CareTrust

REIT,

Inc.

317,709

0

.1

4,642 

CBL

&

Associates

Properties,

Inc.

97,389

0.0

2,481 

Centerspace

149,505

0.0

8,424 

Chatham

Lodging

Trust

80,618

0.0

6,464 

City

Office

REIT,

Inc.

27,472

0.0

4,385 

Community

Healthcare

Trust,

Inc.

130,235

0.0

46,252 

(1)

Compass,

Inc.

—

Class

A

134,131

0.0

17,321 

COPT

Defense

Properties

412,759

0

.1

3,936 

CTO

Realty

Growth,

Inc.

63,803

0.0

25,300 

(1)

Cushman

&

Wakefield

PLC

192,786

0

.1

32,542 

DiamondRock

Hospitality

Co.

261,312

0

.1

24,765 

DigitalBridge

Group,

Inc.

435,369

0

.1

38,219 

Diversified

Healthcare

Trust

74,145

0.0

13,118 

Douglas

Elliman,

Inc.

29,647

0.0

25,498 

Douglas

Emmett,

Inc.

325,355

0

.1

14,403 

Easterly

Government

Properties,

Inc.

164,626

0

.1

13,716 

Elme

Communities

187,086

0

.1

21,020 

Empire

State

Realty

Trust,

Inc.

—

Class

A

169,001

0

.1

16,176 

Equity

Commonwealth

297,153

0

.1

23,453 

Essential

Properties

Realty

Trust,

Inc.

507,288

0

.2

10,895 

(2)

eXp

World

Holdings,

Inc.

176,935

0

.1

8,188 

Farmland

Partners,

Inc.

84,009

0.0

3,108 

(1)

Forestar

Group,

Inc.

83,730

0.0

13,521 

Four

Corners

Property

Trust,

Inc.

300,031

0

.1

1,182 

(1)

FRP

Holdings,

Inc.

63,793

0.0

7,154 

Getty

Realty

Corp.

198,380

0

.1

7,138 

Gladstone

Commercial

Corp.

86,798

0.0

5,915 

Gladstone

Land

Corp.

84,170

0.0

10,452 

Global

Medical

REIT,

Inc.

93,754

0.0

29,994 

Global

Net

Lease,

Inc.

288,242

0

.1

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Real

Estate:

(continued)

3,869 

Hersha

Hospitality

Trust

—

Class

A

$

38,148

0.0

21,142 

Hudson

Pacific

Properties,

Inc.

140,594

0.0

34,241 

Independence

Realty

Trust,

Inc.

481,771

0

.1

4,293 

Innovative

Industrial

Properties,

Inc.

324,808

0

.1

10,698 

InvenTrust

Properties

Corp.

254,719

0

.1

16,817 

JBG

SMITH

Properties

243,174

0

.1

18,259 

Kennedy-Wilson

Holdings,

Inc.

269,138

0

.1

33,286 

Kite

Realty

Group

Trust

712,986

0

.2

44,221 

L.P.

Industrial

Trust

393,567

0

.1

6,537 

LTC

Properties,

Inc.

210,034

0

.1

33,049 

Macerich

Co.

360,565

0

.1

3,799 

Marcus

&

Millichap,

Inc.

111,463

0.0

6,507 

National

Health

Investors,

Inc.

334,200

0

.1

10,295 

NETSTREIT

Corp.

160,396

0

.1

22,070 

Newmark

Group,

Inc.

—

Class

A

141,910

0.0

5,144 

NexPoint

Diversified

Real

Estate

Trust

44,804

0.0

3,614 

NexPoint

Residential

Trust,

Inc.

116,299

0.0

7,503 

Office

Properties

Income

Trust

30,762

0.0

3,076 

One

Liberty

Properties,

Inc.

58,044

0.0

84,111 

(1)

Opendoor

Technologies,

Inc.

222,053

0

.1

9,555 

Orion

Office

REIT,

Inc.

49,782

0.0

22,446 

Outfront

Media,

Inc.

226,705

0

.1

29,726 

Paramount

Group,

Inc.

137,334

0.0

5,691 

Peakstone

Realty

Trust

94,698

0.0

19,065 

Pebblebrook

Hotel

Trust

259,093

0

.1

17,956 

Phillips

Edison

&

Co.,

Inc.

602,244

0

.2

36,170 

Physicians

Realty

Trust

440,912

0

.1

19,402 

Piedmont

Office

Realty

Trust,

Inc.

—

Class

A

109,039

0.0

7,053 

Plymouth

Industrial

REIT,

Inc.

147,760

0.0

12,143 

PotlatchDeltic

Corp.

551,171

0

.2

2,952 

RE/MAX

Holdings,

Inc.

—

Class

A

38,199

0.0

16,454 

(1)

Redfin

Corp.

115,836

0.0

18,770 

Retail

Opportunity

Investments

Corp.

232,373

0

.1

24,724 

RLJ

Lodging

Trust

242,048

0

.1

2,711 

RMR

Group,

Inc.

—

Class

A

66,474

0.0

13,549 

RPT

Realty

143,077

0.0

8,900 

Ryman

Hospitality

Properties,

Inc.

741,192

0

.2

35,250 

Sabra

Health

Care

REIT,

Inc.

491,385

0

.1

6,646 

(1)

Safehold,

Inc.

118,299

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

22

Voya

VACS

Index

Series

SC

Portfolio

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Real

Estate:

(continued)

2,169 

Saul

Centers,

Inc.

$

76,501

0.0

25,837 

Service

Properties

Trust

198,687

0

.1

29,058 

SITE

Centers

Corp.

358,285

0

.1

9,890 

SL

Green

Realty

Corp.

368,897

0

.1

5,382 

St

Joe

Co.

292,404

0

.1

1,942 

(1)

Star

Holdings

24,314

0.0

1,042 

(1)

Stratus

Properties,

Inc.

28,551

0.0

16,941 

Summit

Hotel

Properties,

Inc.

98,258

0.0

32,338 

Sunstone

Hotel

Investors,

Inc.

302,360

0

.1

15,757 

Tanger

Factory

Outlet

Centers,

Inc.

356,108

0

.1

3,761 

(1)

Tejon

Ranch

Co.

61,003

0.0

12,445 

Terreno

Realty

Corp.

706,876

0

.2

9,058 

UMH

Properties,

Inc.

126,993

0.0

37,371 

Uniti

Group,

Inc.

176,391

0

.1

2,386 

Universal

Health

Realty

Income

Trust

96,466

0.0

17,678 

Urban

Edge

Properties

269,766

0

.1

12,630 

Veris

Residential,

Inc.

208,395

0

.1

9,272 

Whitestone

REIT

89,289

0.0

17,436 

Xenia

Hotels

&

Resorts,

Inc.

205,396

0

.1

21,106,455

5

.9

Utilities

:

2

.8

%

8,853 

ALLETE,

Inc.

467,438

0

.1

10,276 

(1)(2)

Altus

Power,

Inc.

53,949

0.0

5,662 

American

States

Water

Co.

445,486

0

.1

1,646 

Artesian

Resources

Corp.

—

Class

A

69,115

0.0

11,502 

Avista

Corp.

372,320

0

.1

10,080 

Black

Hills

Corp.

509,947

0

.1

15,237 

Brookfield

Infrastructure

Corp.

—

Class

A

538,476

0

.2

6,393 

(1)

Cadiz,

Inc.

21,161

0.0

8,653 

California

Water

Service

Group

409,373

0

.1

2,779 

Chesapeake

Utilities

Corp.

271,647

0

.1

2,448 

(2)

Consolidated

Water

Co.

Ltd.

69,621

0.0

3,505 

Genie

Energy

Ltd.

—

Class

B

51,629

0.0

5,708 

MGE

Energy,

Inc.

391,055

0

.1

2,763 

Middlesex

Water

Co.

183,049

0

.1

10,663 

(1)

Montauk

Renewables,

Inc.

97,140

0.0

14,973 

New

Jersey

Resources

Corp.

608,353

0

.2

5,762 

Northwest

Natural

Holding

Co.

219,878

0

.1

9,214 

NorthWestern

Corp.

442,825

0

.1

8,468 

ONE

Gas,

Inc.

578,195

0

.2

8,222 

Ormat

Technologies,

Inc.

574,882

0

.2

6,385 

Otter

Tail

Corp.

484,749

0

.1

13,234 

PNM

Resources,

Inc.

590,369

0

.2

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Utilities:

(continued)

14,660 

Portland

General

Electric

Co.

$

593,437

0

.2

3,897 

(1)

Pure

Cycle

Corp.

37,411

0.0

4,897 

SJW

Group

294,359

0

.1

9,543 

Southwest

Gas

Holdings,

Inc.

576,493

0

.2

7,908 

Spire,

Inc.

447,435

0

.1

15,614 

(1)(2)

Sunnova

Energy

International,

Inc.

163,478

0

.1

2,804 

Unitil

Corp.

119,759

0.0

2,712 

York

Water

Co.

101,673

0.0

9,784,702

2

.8

Total

Common

Stock

(Cost

$364,489,556)

348,397,365

98

.0

RIGHTS

:

0.0

%

Common

Stocks

:

0.0

%

8,741 

(4)(5)

Chinook

Therapeutics,

Inc.

CVR

3,409

0.0

Total

Rights

(Cost

$–)

3,409

0.0

Total

Long-Term

Investments

(Cost

$364,489,556)

348,400,774

98

.0

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

4

.3

%

Repurchase

Agreements

:

2

.6

%

2,251,989 

(6)

Bank

of

America

Securities

Inc.,

Repurchase

Agreement

dated

09/29/2023,

5.290%,

due

10/02/2023

(Repurchase

Amount

$2,252,968,

collateralized

by

various

U.S.

Government

Securities,

1.375%-

4.000%,

Market

Value

plus

accrued

interest

$2,297,029,

due

11/15/40-02/15/53)

2,251,989

0

.6

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

23

Voya

VACS

Index

Series

SC

Portfolio

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

2,251,989 

(6)

Daiwa

Capital

Markets,

Repurchase

Agreement

dated

09/29/2023,

5.310%,

due

10/02/2023

(Repurchase

Amount

$2,252,972,

collateralized

by

various

U.S.

Government

Securities,

0.000%-

5.440%,

Market

Value

plus

accrued

interest

$2,297,029,

due

11/14/23-05/15/40)

$

2,251,989

0

.6

2,251,989 

(6)

Deutsche

Bank

Securities

Inc.,

Repurchase

Agreement

dated

09/29/2023,

5.300%,

due

10/02/2023

(Repurchase

Amount

$2,252,970,

collateralized

by

various

U.S.

Government

Securities,

0.500%-

1.750%,

Market

Value

plus

accrued

interest

$2,297,030,

due

06/30/24-05/31/27)

2,251,989

0

.7

2,251,989 

(6)

HSBC

Securities

USA

Inc.,

Repurchase

Agreement

dated

09/29/2023,

5.290%,

due

10/02/2023

(Repurchase

Amount

$2,252,968,

collateralized

by

various

U.S.

Government

Securities,

0.000%-

4.375%,

Market

Value

plus

accrued

interest

$2,297,029,

due

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

2,251,989

0

.6

414,594 

(6)

J.P

Morgan

Securities

LLC,

Repurchase

Agreement

dated

09/29/2023,

5.300%,

due

10/02/2023

(Repurchase

Amount

$414,775,

collateralized

by

various

U.S.

Government

Securities,

1.250%-4.375%,

Market

Value

plus

accrued

interest

$422,886,

due

05/15/24-08/15/28)

414,594

0

.1

Total

Repurchase

Agreements

(Cost

$9,422,550)

9,422,550

2

.6

Shares

RA

Value

Percentage

of

Net

Assets

Mutual

Funds

:

1

.7

%

6,038,000 

(7)

Morgan

Stanley

Institutional

Liquidity

Funds

-

Government

Portfolio

(Institutional

Share

Class),

5.270%

(Cost

$6,038,000)

$

6,038,000

1

.7

Total

Short-Term

Investments

(Cost

$15,460,550)

$

15,460,550

4

.3

Total

Investments

in

Securities

(Cost

$379,950,106)

$

363,861,324

102

.3

Liabilities

in

Excess

of

Other

Assets

(

8,080,356

)

(

2

.3

)

Net

Assets

$

355,780,968

100

.0

†

Unless

otherwise

indicated,

principal

amount

is

shown

in

USD.

(1)

Non-income

producing

security.

(2)

Security,

or

a

portion

of

the

security,

is

on

loan.

(3)

Investment

in

affiliate.

(4)

For

fair

value

measurement

disclosure

purposes,

security

is

categorized

as

Level

3,

whose

value

was

determined

using

significant

unobservable

inputs.

(5)

Restricted

security

as

to

resale,

excluding

Rule

144A

securities.

As

of

September

30,

2023,

the

Fund

held

restricted

securities

with

a

fair

value

of

$3,409

or

—%

of

net

assets.

Please

refer

to

the

table

below

for

additional

details.

(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

September

30,

2023.

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(Unaudited)

(continued)

24

Voya

VACS

Index

Series

SC

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

Communication

Services

$

8,387,107

$

—

$

—

$

8,387,107

Consumer

Discretionary

36,621,805

—

—

36,621,805

Consumer

Staples

12,491,135

—

—

12,491,135

Energy

29,435,149

—

—

29,435,149

Financials

55,485,961

—

—

55,485,961

Health

Care

51,740,927

—

—

51,740,927

Industrials

58,103,544

690,661

—

58,794,205

Information

Technology

48,680,021

—

—

48,680,021

Materials

15,869,898

—

—

15,869,898

Real

Estate

21,106,455

—

—

21,106,455

Utilities

9,784,702

—

—

9,784,702

Total

Common

Stock

347,706,704

690,661

—

348,397,365

Rights

—

—

3,409

3,409

Short-Term

Investments

6,038,000

9,422,550

—

15,460,550

Total

Investments,

at

fair

value

$

353,744,704

$

10,113,211

$

3,409

$

363,861,324

Liabilities

Table

Other

Financial

Instruments+

Futures

$

(

210,929

)

$

—

$

—

$

(

210,929

)

Total

Liabilities

$

(

210,929

)

$

—

$

—

$

(

210,929

)

#

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.

At

September

30,

2023,

Voya

VACS

Indes

Series

SC

Portfolio

held

the

following

restricted

securities:

Security

Acquisition

Date

Acquisition

Cost

Fair

Value

Chinook

Therapeutics,

Inc.

CVR

8/14/2023

$

—

$

3,409

$

—

$

3,409

At

September

30,

2023,

the

following

futures

contracts

were

outstanding

for

Voya

VACS

Indes

Series

SC

Portfolio:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Depreciation

Long

Contracts:

E-mini

Russell

2000

Index

78

12/15/23

$

7,014,540

$

(

210,929

)

$

7,014,540

$

(

210,929

)

Net

unrealized

depreciation

consisted

of:

Gross

Unrealized

Appreciation

$

31,204,557

Gross

Unrealized

Depreciation

(

47,293,339

)

Net

Unrealized

Depreciation

$

(

16,088,782

)