NPORT-EX 2 425505_Voya093023.htm
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
)