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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-08319

Voya Partners, Inc.

(Exact name of registrant as specified in charter)

7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ 85258

(Address of principal executive offices) (Zip code)

Huey P. Falgout, Jr., 7337 E. Doubletree Ranch Rd., Scottsdale, AZ 85258

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-800-992-0180

Date of fiscal year end: December 31

Date of reporting period: March 31, 2015

Item 1. Schedule of Investments

The schedules of investments as of the close of the reporting period are set forth below for:

The schedules are not audited.

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: 31.6%
			Basic Materials: 1.2%
	370,000		Agrium, Inc., 3.375%, 03/15/25	$	370,634		0.1
	570,000		Agrium, Inc., 5.250%, 01/15/45		644,872		0.1
	555,000		BHP Billiton Finance USA Ltd, 5.000%, 09/30/43		638,212		0.1
	283,000	#	Braskem Finance Ltd., 7.000%, 05/07/20		287,245		0.0
	1,800,000	#,L	CSN Islands XI Corp., 6.875%, 09/21/19		1,620,000		0.3
	1,089,000	#	Georgia-Pacific LLC, 3.600%, 03/01/25		1,118,618		0.2
	702,000		LYB International Finance BV, 4.000%, 07/15/23		745,972		0.1
	1,000,000		PolyOne Corp., 5.250%, 03/15/23		1,042,500		0.2
	788,000		Rockwood Specialties Group, Inc., 4.625%, 10/15/20		822,475		0.1
					7,290,528		1.2
			Communications: 5.3%
	716,000		Amazon.com, Inc., 4.950%, 12/05/44		784,349		0.1
	937,000	L	AT&T, Inc., 3.900%, 03/11/24		985,036		0.2
	765,000		AT&T, Inc., 4.800%, 06/15/44		787,818		0.1
	669,000		CBS Corp., 2.300%, 08/15/19		669,792		0.1
	968,000		CBS Corp., 3.700%, 08/15/24		998,691		0.2
	1,000,000		CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 02/15/23		1,013,750		0.2
	1,000,000		CenturyLink, Inc., 5.800%, 03/15/22		1,046,250		0.2
	1,277,000	#	Cox Communications, Inc., 3.850%, 02/01/25		1,315,694		0.2
	1,000,000	#	CSC Holdings, LLC, 5.250%, 06/01/24		1,022,500		0.2
	1,268,000		DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 3.950%, 01/15/25		1,309,036		0.2
	1,000,000		DISH DBS Corp., 5.000%, 03/15/23		974,800		0.2
	941,000		eBay, Inc., 3.450%, 08/01/24		932,876		0.1
	1,000,000		Equinix, Inc., 5.375%, 04/01/23		1,043,000		0.2
	1,000,000		Gannett Co., Inc., 6.375%, 10/15/23		1,088,750		0.2
	1,000,000		Intelsat Jackson Holdings SA, 5.500%, 08/01/23		948,750		0.2
	903,000	L	Motorola Solutions, Inc., 4.000%, 09/01/24		934,912		0.1
	608,000		21st Century Fox America, Inc., 3.000%, 09/15/22		616,348		0.1
	1,000,000	#	Sinclair Television Group, Inc., 5.625%, 08/01/24		1,022,500		0.2
	800,000		Sprint Nextel Corp., 9.125%, 03/01/17		876,000		0.1
	1,209,000		Time Warner Cable, Inc., 5.875%, 11/15/40		1,451,288		0.2
	1,044,000		Time Warner, Inc., 4.050%, 12/15/23		1,119,499		0.2
	779,000		Time Warner, Inc., 5.350%, 12/15/43		912,672		0.1
	1,000,000		T-Mobile USA, Inc., 6.731%, 04/28/22		1,056,250		0.2
	800,000		Verizon Communications, Inc., 3.000%, 11/01/21		817,414		0.1
	1,920,000		Verizon Communications, Inc., 3.500%, 11/01/24		1,968,845		0.3
	1,853,000		Verizon Communications, Inc., 4.150%, 03/15/24		1,992,021		0.3
	1,939,000		Verizon Communications, Inc., 5.150%, 09/15/23		2,224,580		0.4
	1,951,000		Viacom, Inc., 3.875%, 04/01/24		2,011,021		0.3
	719,000		WPP Finance 2010, 3.750%, 09/19/24		751,674		0.1
					32,676,116		5.3
			Consumer, Cyclical: 0.8%
	82,103		CVS Pass-Through Trust, 6.943%, 01/10/30		102,251		0.0
	684,000		Ford Motor Co., 4.750%, 01/15/43		750,936		0.1
	1,000,000		Ford Motor Credit Co. LLC, 3.664%, 09/08/24		1,033,826		0.2
	445,000		General Motors Co., 4.875%, 10/02/23		484,033		0.1
	697,000		Johnson Controls, Inc., 4.625%, 07/02/44		750,685		0.1
	676,000		Kohl's Corp., 4.750%, 12/15/23		743,819		0.1
	576,000		Newell Rubbermaid, Inc., 2.875%, 12/01/19		587,605		0.1
	717,000		Walgreens Boots Alliance, Inc., 3.800%, 11/18/24		742,803		0.1
					5,195,958		0.8
			Consumer, Non-cyclical: 7.0%
	774,000		Actavis Funding SCS, 3.450%, 03/15/22		793,927		0.1
	511,000		Actavis Funding SCS, 3.800%, 03/15/25		528,008		0.1
	1,452,000		Actavis Funding SCS, 3.850%, 06/15/24		1,502,660		0.2
	1,149,000		Altria Group, Inc., 2.625%, 01/14/20		1,167,171		0.2

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical: (continued)
	590,000		AmerisourceBergen Corp., 3.250%, 03/01/25	$	599,095		0.1
	1,000,000		Amsurg Corp., 5.625%, 07/15/22		1,027,500		0.2
	914,000	#	Bayer US Finance LLC, 2.375%, 10/08/19		930,409		0.1
	633,000		Becton Dickinson and Co., 1.800%, 12/15/17		638,136		0.1
	633,000		Becton Dickinson and Co., 2.675%, 12/15/19		648,408		0.1
	438,000		Becton Dickinson and Co., 3.734%, 12/15/24		459,690		0.1
	600,000		Cardinal Health, Inc., 2.400%, 11/15/19		607,839		0.1
	1,102,000		Celgene Corp., 2.250%, 05/15/19		1,114,251		0.2
	629,000		Celgene Corp., 3.625%, 05/15/24		654,945		0.1
	1,000,000		Constellation Brands, Inc., 4.250%, 05/01/23		1,031,250		0.2
	732,000		Express Scripts Holding Co., 3.500%, 06/15/24		755,056		0.1
	989,000		General Mills, Inc., 2.200%, 10/21/19		998,364		0.2
	625,000		Gilead Sciences, Inc., 3.500%, 02/01/25		660,965		0.1
	1,000,000		HCA, Inc., 5.875%, 03/15/22		1,107,500		0.2
	1,000,000		HJ Heinz Co., 4.250%, 10/15/20		1,027,250		0.2
	503,000	#	JM Smucker Co, 3.500%, 03/15/25		518,174		0.1
	1,203,000		Kroger Co., 2.300%, 01/15/19		1,221,548		0.2
	633,000		Laboratory Corp. of America Holdings, 2.200%, 08/23/17		644,580		0.1
	982,000		Laboratory Corp. of America Holdings, 2.625%, 02/01/20		989,262		0.2
	620,000		Laboratory Corp. of America Holdings, 3.200%, 02/01/22		628,575		0.1
	728,000		McKesson Corp., 2.284%, 03/15/19		736,852		0.1
	1,055,000		McKesson Corp., 3.796%, 03/15/24		1,115,185		0.2
	1,802,000	#	Medtronic, Inc., 3.500%, 03/15/25		1,887,754		0.3
	607,000	#	Medtronic, Inc., 4.375%, 03/15/35		664,181		0.1
	692,000	#	Medtronic, Inc., 4.625%, 03/15/45		786,461		0.1
	610,000		Merck & Co., Inc., 1.850%, 02/10/20		613,758		0.1
	1,002,000		Merck & Co., Inc., 2.350%, 02/10/22		1,003,755		0.2
	670,000		Merck & Co., Inc., 2.750%, 02/10/25		670,894		0.1
	1,435,000		Perrigo Finance plc, 3.900%, 12/15/24		1,488,484		0.2
	702,000		Pfizer, Inc., 3.400%, 05/15/24		737,708		0.1
	1,087,000		Philip Morris International, Inc., 3.250%, 11/10/24		1,117,339		0.2
	1,441,000		Philip Morris International, Inc., 4.250%, 11/10/44		1,515,325		0.2
	720,000		RR Donnelley & Sons Co., 6.500%, 11/15/23		768,600		0.1
	725,000		St Jude Medical, Inc., 3.250%, 04/15/23		742,857		0.1
	684,000		St Jude Medical, Inc., 4.750%, 04/15/43		751,837		0.1
	1,144,000		Synchrony Financial, 3.750%, 08/15/21		1,187,236		0.2
	1,760,000		Sysco Corp., 3.500%, 10/02/24		1,828,538		0.3
	1,389,000		Tyson Foods, Inc., 3.950%, 08/15/24		1,470,269		0.2
	642,000		Tyson Foods, Inc., 5.150%, 08/15/44		750,269		0.1
	1,000,000		United Rentals North America, Inc., 6.125%, 06/15/23		1,062,500		0.2
	1,000,000	#	Valeant Pharmaceuticals International, 5.625%, 12/01/21		1,017,500		0.2
	720,000		Zimmer Holdings, Inc., 3.550%, 04/01/25		735,236		0.1
	450,000		Zimmer Holdings, Inc., 4.450%, 08/15/45		468,844		0.1
					43,375,945		7.0
			Diversified: 0.2%
	860,000		MUFG Americas Holdings Corp., 2.250%, 02/10/20		862,636		0.2
	200,000	#	Tenedora Nemak SA de CV, 5.500%, 02/28/23		207,000		0.0
					1,069,636		0.2
			Energy: 2.3%
	730,000		BP Capital Markets PLC, 2.315%, 02/13/20		736,632		0.1
	467,000		BP Capital Markets PLC, 3.062%, 03/17/22		475,502		0.1
	950,000		ConocoPhillips Co., 3.350%, 11/15/24		980,155		0.2
	780,000	L	Diamond Offshore Drilling, Inc., 3.450%, 11/01/23		750,532		0.1
	795,000		Enbridge, Inc., 3.500%, 06/10/24		782,436		0.1
	1,117,000		Energy Transfer Partners L.P., 5.150%, 02/01/43		1,123,026		0.2
	551,000		Enterprise Products Operating LLC, 5.700%, 02/15/42		661,939		0.1
	430,000		Kinder Morgan Energy Partners L.P., 5.400%, 09/01/44		447,200		0.1
	1,463,000		Kinder Morgan, Inc./DE, 4.300%, 06/01/25		1,504,707		0.2

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Energy: (continued)
	340,000		Kinder Morgan, Inc./DE, 5.050%, 02/15/46	$	340,909		0.1
	1,232,000		Marathon Petroleum Corp., 4.750%, 09/15/44		1,258,854		0.2
	1,443,000		Phillips 66, 4.875%, 11/15/44		1,551,698		0.2
	435,000	#	Schlumberger Investment SA, 3.300%, 09/14/21		457,012		0.1
	506,000		Spectra Energy Partners L.P., 3.500%, 03/15/25		509,560		0.1
	1,030,000		Statoil ASA, 2.450%, 01/17/23		1,015,280		0.2
	1,088,000		Sunoco Logistics Partners Operations L.P., 4.250%, 04/01/24		1,119,311		0.2
	200,000		TNK-BP Finance SA, 7.500%, 07/18/16		204,322		0.0
					13,919,075		2.3
			Financial: 11.8%
	1,045,000		American International Group, Inc., 3.375%, 08/15/20		1,103,988		0.2
	957,000		American International Group, Inc., 3.875%, 01/15/35		965,195		0.2
	726,000		Air Lease Corp., 3.750%, 02/01/22		738,801		0.1
	880,000		American Express Co., 4.900%, 12/29/49		894,960		0.1
	1,456,000		American Tower Corp., 3.450%, 09/15/21		1,488,374		0.2
	733,000		AvalonBay Communities, Inc., 3.500%, 11/15/24		754,604		0.1
	1,097,000		Bank of America Corp., 4.250%, 10/22/26		1,134,028		0.2
	917,000		Bank of America Corp., 4.000%, 04/01/24		976,905		0.2
	969,000		Bank of America Corp., 5.000%, 01/21/44		1,116,862		0.2
	1,700,000		Bank of India, 4.750%, 09/30/15		1,727,684		0.3
	982,000	#	Barclays Bank PLC, 6.050%, 12/04/17		1,082,046		0.2
	522,000		Barclays PLC, 3.650%, 03/16/25		524,715		0.1
	1,200,000	#	BBVA, 6.500%, 03/10/21		1,334,256		0.2
	1,030,000	#	BPCE SA, 5.150%, 07/21/24		1,102,589		0.2
	960,000		Capital One NA/Mclean VA, 1.650%, 02/05/18		956,980		0.1
	960,000		Citigroup, Inc., 1.800%, 02/05/18		962,525		0.2
	1,535,000		Citigroup, Inc., 4.000%, 08/05/24		1,577,808		0.2
	980,000		Citigroup, Inc., 5.500%, 09/13/25		1,112,971		0.2
	1,823,000		Citizens Bank NA/Providence RI, 2.450%, 12/04/19		1,847,443		0.3
	1,061,000		Comerica, Inc., 3.800%, 07/22/26		1,082,068		0.2
	735,000		Corporate Office Properties L.P., 3.700%, 06/15/21		743,985		0.1
	1,080,000	#,L	Credit Agricole SA/London, 2.500%, 04/15/19		1,102,429		0.2
	951,000	#	Credit Agricole SA, 4.375%, 03/17/25		963,508		0.2
	1,956,000	#	Credit Suisse AG, 6.500%, 08/08/23		2,238,225		0.4
	661,000	#	Credit Suisse Group Funding Guernsey Ltd., 3.750%, 03/26/25		669,561		0.1
	1,332,000		Credit Suisse/New York NY, 1.750%, 01/29/18		1,336,400		0.2
	1,850,000		Deutsche Bank AG/London, 1.875%, 02/13/18		1,855,667		0.3
	1,176,000		Fifth Third Bancorp, 4.500%, 06/01/18		1,258,736		0.2
	1,030,000	#	Five Corners Funding Trust, 4.419%, 11/15/23		1,106,996		0.2
	2,000,000		General Motors Financial Co., Inc., 4.750%, 08/15/17		2,114,620		0.3
	1,176,000		Goldman Sachs Group, Inc., 2.600%, 04/23/20		1,189,890		0.2
	1,188,000		Goldman Sachs Group, Inc., 3.850%, 07/08/24		1,244,747		0.2
	878,000		Goldman Sachs Group, Inc., 6.750%, 10/01/37		1,155,207		0.2
	712,000		HCP, Inc., 3.875%, 08/15/24		724,920		0.1
	621,000		HSBC Holdings PLC, 6.375%, 03/29/49		636,525		0.1
	1,000,000		International Lease Finance Corp., 4.875%, 04/01/15		1,000,000		0.2
	300,000		International Lease Finance Corp., 5.750%, 05/15/16		312,225		0.0
	700,000	#	International Lease Finance Corp., 6.750%, 09/01/16		745,500		0.1
	1,671,000		Intesa Sanpaolo SpA, 5.250%, 01/12/24		1,884,086		0.3
	951,000		JPMorgan Chase & Co., 3.875%, 09/10/24		976,774		0.2
	1,464,000		JPMorgan Chase & Co., 4.125%, 12/15/26		1,521,248		0.2
	1,089,000		JPMorgan Chase & Co., 6.125%, 12/29/49		1,116,116		0.2
	951,000		KeyBank NA/Cleveland OH, 2.250%, 03/16/20		958,233		0.1
	746,000		Kimco Realty Corp., 3.125%, 06/01/23		743,096		0.1
	660,000		Kimco Realty Corp., 3.200%, 05/01/21		677,640		0.1
	881,000		Manufacturers & Traders Trust Co., 2.100%, 02/06/20		883,339		0.1
	796,000		Merrill Lynch & Co., Inc., 6.875%, 04/25/18		911,012		0.1

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	367,000	#	Mizuho Bank Ltd., 3.200%, 03/26/25	$	367,333		0.1
	1,260,000		Morgan Stanley, 2.650%, 01/27/20		1,281,283		0.2
	2,105,000		Morgan Stanley, 3.875%, 04/29/24		2,217,820		0.4
	510,000		Morgan Stanley, 4.300%, 01/27/45		530,788		0.1
	568,000		PNC Bank NA, 2.250%, 07/02/19		576,206		0.1
	600,000	#	Royal Bank of Scotland Group PLC, 6.990%, 10/29/49		711,000		0.1
	1,239,000		Santander Bank NA, 2.000%, 01/12/18		1,244,943		0.2
	900,000		Sberbank of Russia Via SB Capital SA, 5.499%, 07/07/15		902,700		0.1
	1,084,000	#	Scentre Group Trust 1 / Scentre Group Trust 2, 3.500%, 02/12/25		1,110,313		0.2
	1,086,000		State Street Corp., 3.300%, 12/16/24		1,130,459		0.2
	1,240,000		Sumitomo Mitsui Banking Corp., 2.450%, 01/16/20		1,256,571		0.2
	592,000		Synchrony Financial, 2.700%, 02/03/20		595,231		0.1
	400,000	#	Turkiye Garanti Bankasi AS, 2.757%, 04/20/16		400,300		0.1
	544,000		UBS AG/Stamford CT, 7.625%, 08/17/22		660,765		0.1
	362,000		Vornado Realty L.P., 2.500%, 06/30/19		365,264		0.1
	619,000	#	Washington Prime Group L.P., 3.850%, 04/01/20		625,150		0.1
	690,000		Washington Real Estate Investment Trust, 4.950%, 10/01/20		750,430		0.1
	653,000	#	WEA Finance LLC / Westfield UK & Europe Finance PLC, 2.700%, 09/17/19		661,703		0.1
	1,065,000	#	WEA Finance LLC / Westfield UK & Europe Finance PLC, 3.750%, 09/17/24		1,103,689		0.2
	630,000		Wells Fargo & Co., 2.150%, 01/30/20		633,683		0.1
	1,437,000		Wells Fargo & Co., 4.100%, 06/03/26		1,516,133		0.2
	1,085,000		Wells Fargo & Co., 4.650%, 11/04/44		1,161,916		0.2
	500,000		XLIT Ltd., 5.500%, 03/31/45		501,999		0.1
					72,861,166		11.8
			Industrial: 1.0%
	678,000		Burlington Northern Santa Fe LLC, 4.550%, 09/01/44		746,144		0.1
	623,000		Caterpillar, Inc., 3.400%, 05/15/24		653,935		0.1
	308,000	#	Cemex SAB de CV, 6.125%, 05/05/25		311,758		0.1
	740,000		Eaton Corp., 1.500%, 11/02/17		743,132		0.1
	1,404,000		FedEx Corp., 2.300%, 02/01/20		1,420,208		0.2
	981,000		Ingersoll-Rand Global Holding Co. Ltd., 4.250%, 06/15/23		1,049,252		0.2
	900,000		Lockheed Martin Corp., 3.800%, 03/01/45		898,740		0.1
	465,000		Thermo Fisher Scientific, Inc., 1.850%, 01/15/18		466,889		0.1
					6,290,058		1.0
			Technology: 1.0%
	1,900,000		Apple, Inc., 1.550%, 02/07/20		1,889,284		0.3
	910,000		Apple, Inc., 2.150%, 02/09/22		899,005		0.1
	270,000		Apple, Inc., 2.500%, 02/09/25		264,800		0.0
	415,000		Apple, Inc., 4.450%, 05/06/44		464,373		0.1
	600,000		Dell, Inc., 2.300%, 09/10/15		600,750		0.1
	940,000		International Business Machines Corp., 1.125%, 02/06/18		938,582		0.1
	440,000		Microsoft Corp., 2.375%, 02/12/22		443,591		0.1
	470,000		Microsoft Corp., 3.500%, 02/12/35		469,810		0.1
	420,000		Microsoft Corp., 3.750%, 02/12/45		423,528		0.1
					6,393,723		1.0
			Utilities: 1.0%
	944,000		Berkshire Hathaway Energy Co., 3.500%, 02/01/25		985,102		0.1
	762,000		CenterPoint Energy Houston Electric LLC, 3.550%, 08/01/42		755,038		0.1
	1,076,000		NextEra Energy Capital Holdings, Inc., 2.700%, 09/15/19		1,103,666		0.2
	245,000		NextEra Energy Capital Holdings, Inc., 3.625%, 06/15/23		256,872		0.0
	1,012,000		Oncor Electric Delivery Co. LLC, 4.100%, 06/01/22		1,111,566		0.2
	1,070,000		Pacific Gas & Electric Co., 3.400%, 08/15/24		1,117,640		0.2
	949,000		PPL Capital Funding, Inc., 3.400%, 06/01/23		985,712		0.2
					6,315,596		1.0
		Total Corporate Bonds/Notes
		(Cost $191,517,125)			195,387,801		31.6

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: 12.9%
	224,518		American Home Mortgage Investment Trust, 2.378%, 02/25/45	$	224,471		0.0
	2,690,000	#	BAMLL Commercial Mortgage Securities Trust 2015-ASHF, 2.174%, 01/15/28		2,690,091		0.4
	630,000	#	BAMLL Re-REMIC Trust 2015-FRR11, 09/27/44		575,023		0.1
	216,859		Banc of America Funding Corp., 2.645%, 05/25/35		221,352		0.0
	201,738		Banc of America Funding Corp., 2.868%, 01/20/47		169,592		0.0
	137,557		Banc of America Mortgage Securities, Inc., 2.623%, 07/25/33		137,925		0.0
	670,000		Banc of America Commercial Mortgage Trust 2007-3 B, 5.575%, 06/10/49		685,175		0.1
	2,270,000		Banc of America Merrill Lynch Commercial Mortgage, Inc. 2005-6 F, 5.179%, 09/10/47		2,293,240		0.4
	158,338	#	BCAP, LLC Trust, 5.419%, 03/26/37		156,070		0.0
	513,199		Bear Stearns Adjustable Rate Mortgage Trust, 2.515%, 03/25/35		515,449		0.1
	337,446		Bear Stearns Adjustable Rate Mortgage Trust, 2.602%, 11/25/34		327,313		0.1
	1,090,935		Bear Stearns Adjustable Rate Mortgage Trust, 2.680%, 03/25/35		1,104,412		0.2
	469,411		Bear Stearns Adjustable Rate Mortgage Trust, 2.699%, 09/25/34		452,431		0.1
	43,248		Bear Stearns Adjustable Rate Mortgage Trust, 5.422%, 02/25/36		40,586		0.0
	464,099		Bear Stearns Alternative-A Trust, 2.619%, 11/25/36		312,227		0.1
	141,264		Bear Stearns Alternative-A Trust, 2.651%, 09/25/35		121,794		0.0
	231,116		Bear Stearns Alternative-A Trust, 2.671%, 05/25/35		224,459		0.0
	372,259		Bear Stearns Structured Products, Inc., 2.514%, 01/26/36		302,608		0.1
	237,739		Bear Stearns Structured Products, Inc., 3.068%, 12/26/46		174,295		0.0
	54,811		CHL Mortgage Pass-Through Trust 2005-2, 0.514%, 03/25/35		45,293		0.0
	2,201,592		Citicorp Mortgage Securities, Inc., 6.000%, 01/25/37		2,254,860		0.4
	278,082		Citigroup Mortgage Loan Trust, Inc., 2.573%, 08/25/35		276,447		0.0
	28,917,969	^	COMM 2012-CCRE4 XA Mortgage Trust, 1.958%, 10/15/45		2,912,175		0.5
	1,800,000		Commercial Mortgage Trust 2007-GG11 AJ, 6.254%, 12/10/49		1,911,495		0.3
	34,846,690	^	Commercial Mortgage Trust, 1.413%, 10/10/46		2,892,516		0.5
	23,056,759	^	Commercial Mortgage Trust, 1.432%, 08/10/46		1,635,384		0.3
	5,931,377		Countrywide Home Loan Mortgage Pass-through Trust, 0.374%, 04/25/46		5,217,779		0.8
	105,721		Countrywide Home Loan Mortgage Pass-through Trust, 0.494%, 03/25/35		101,538		0.0
	353,627	#	Countrywide Home Loan Mortgage Pass-through Trust, 0.514%, 06/25/35		312,652		0.1
	247,489		Countrywide Home Loan Mortgage Pass-through Trust, 2.408%, 11/25/34		235,139		0.0
	397,537		Countrywide Home Loan Mortgage Pass-through Trust, 2.467%, 02/20/35		392,749		0.1
	3,926,321		Credit Suisse Commercial Mortgage Trust Series 2006-C4, 5.460%, 09/15/39		4,115,540		0.7
	950,000	#	Credit Suisse Commercial Mortgage Trust Series-K1A, 5.415%, 02/25/21		950,523		0.2
	2,680,000	#	DBUBS 2011-LC3 Mortgage Trust, 5.420%, 08/10/44		2,898,566		0.5
	85,860		Downey Savings & Loan Association Mortgage Loan Trust, 2.453%, 07/19/44		85,759		0.0
	340,000		Fannie Mae Connecticut Avenue Securities 2013-CO1 M2, 4.724%, 02/25/25		348,366		0.1
	860,000		Fannie Mae Connecticut Avenue Securities 2014-C03 2M2, 3.074%, 07/25/24		804,926		0.1
	600,000		Fannie Mae Connecticut Avenue Securities 2014-CO3 M2, 3.174%, 07/25/24		565,253		0.1
	1,060,000		Fannie Mae Connecticut Avenue Securities 2015-CO1 M2, 4.474%, 02/25/25		1,081,595		0.2
	1,290,000		Fannie Mae Connecticut Avenue Securities, 5.074%, 11/25/24		1,361,785		0.2

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	590,000		Fannie Mae Connecticut Avenue Securities, 5.174%, 11/25/24	$	620,848		0.1
	179,572		First Horizon Mortgage Pass-through Trust, 2.610%, 08/25/35		165,086		0.0
	440,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2014-HQ3 M3, 4.924%, 10/25/24		461,891		0.1
	410,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2015-HQ1 M2, 2.373%, 03/25/25		410,570		0.1
	480,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2015-HQ1 M3, 3.973%, 03/25/25		483,606		0.1
	430,000		Freddie Mac Structured Agency Credit Risk Debt Notes, 2.374%, 09/25/24		428,298		0.1
	750,000		Freddie Mac Structured Agency Credit Risk Debt Notes, 4.324%, 01/25/25		772,435		0.1
	2,501,012		Granite Master Issuer PLC, 0.356%, 12/20/54		2,489,007		0.4
	37,436,617	^	GS Mortgage Securities Corp. II, 1.715%, 11/10/46		2,853,958		0.5
	1,000,000	#	GS Mortgage Securities Trust 2010-C2, 5.223%, 12/10/43		1,073,377		0.2
	22,545		GSR Mortgage Loan Trust, 2.235%, 06/25/34		21,998		0.0
	260,334		GSR Mortgage Loan Trust, 2.671%, 09/25/35		261,794		0.0
	490		GSR Mortgage Loan Trust, 6.000%, 03/25/32		508		0.0
	147,218		Harborview Mortgage Loan Trust, 0.398%, 05/19/35		123,336		0.0
	267,357		Harborview Mortgage Loan Trust, 2.608%, 07/19/35		242,449		0.0
	146,130		Indymac Index Mortgage Loan Trust, 2.523%, 12/25/34		133,749		0.0
	2,495,000		JP Morgan Chase Commercial Mortgage Securities Trust 2004-CIBC10, 5.066%, 01/12/37		2,516,053		0.4
	440,000		JP Morgan Chase Commercial Mortgage Securities Trust 2004-CIBC10, 5.097%, 01/12/37		442,251		0.1
	650,000		JP Morgan Chase Commercial Mortgage Securities Trust 2006-LDP8, 5.618%, 05/15/45		656,615		0.1
	40,042,734	^	JP Morgan Chase Commercial Mortgage Securities Trust 2012-CIBX XA, 1.755%, 06/15/45		3,014,701		0.5
	47,240		JPMorgan Mortgage Trust, 2.538%, 02/25/35		47,185		0.0
	401,270		JPMorgan Mortgage Trust, 2.556%, 07/25/35		408,929		0.1
	1,239,500	#	LB-UBS Commercial Mortgage Trust, 6.890%, 07/15/32		1,246,056		0.2
	173,475		Merrill Lynch Mortgage Investors Trust, 2.199%, 05/25/33		168,664		0.0
	169,752		Merrill Lynch Mortgage Investors, Inc., 0.384%, 02/25/36		156,228		0.0
	121,594		MLCC Mortgage Investors, Inc., 0.424%, 11/25/35		115,582		0.0
	66,669		MLCC Mortgage Investors, Inc., 1.172%, 10/25/35		63,644		0.0
	5,499,101		MLCC Mortgage Investors, Inc., 2.196%, 11/25/35		5,442,138		0.9
	1,010,525	#	Morgan Stanley Re-REMIC Trust 2010-C30 A3B, 5.246%, 12/17/43		1,019,444		0.2
	440,000	#	Morgan Stanley Re-REMIC Trust, 0.250%, 07/27/49		390,148		0.1
	1,230,015		Provident Funding Mortgage Loan Trust, 2.460%, 10/25/35		1,226,121		0.2
	17,007		Residential Accredit Loans, Inc., 0.574%, 03/25/33		16,789		0.0
	9,267		Residential Asset Securitization Trust, 0.574%, 05/25/33		9,245		0.0
	4,515		Residential Funding Mortgage Securities I, 6.500%, 03/25/32		4,706		0.0
	95,229		Sequoia Mortgage Trust, 0.526%, 07/20/33		90,102		0.0
	153,343		Sequoia Mortgage Trust, 2.642%, 04/20/35		158,914		0.0
	137,987		Structured Adjustable Rate Mortgage Loan Trust, 2.537%, 08/25/35		129,582		0.0
	282,619		Structured Asset Mortgage Investments, Inc., 0.428%, 07/19/35		272,817		0.0
	60,117	#	Structured Asset Securities Corp., 2.610%, 10/28/35		57,798		0.0
	1,111,316		Thornburg Mortgage Securities Trust, 5.366%, 10/25/46		1,095,067		0.2

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	2,300,000		Wachovia Bank Commercial Mortgage Trust Series 2006-C25, 5.715%, 05/15/43	$	2,328,261		0.4
	2,500,000		Wachovia Bank Commercial Mortgage Trust Series, 5.715%, 05/15/43		2,555,724		0.4
	90,018		Washington Mutual Mortgage Pass-through Certificates, 0.494%, 01/25/45		85,098		0.0
	10,905		Washington Mutual Mortgage Pass-through Certificates, 1.528%, 08/25/42		10,060		0.0
	20,565		Washington Mutual Mortgage Pass-through Certificates, 1.948%, 02/27/34		20,058		0.0
	559,956		Washington Mutual Mortgage Pass-through Certificates, 2.192%, 07/25/46		506,762		0.1
	612,741		Washington Mutual Mortgage Pass-through Certificates, 2.192%, 08/25/46		553,718		0.1
	1,469,513		Washington Mutual Mortgage Pass-through Certificates, 4.396%, 02/25/37		1,377,115		0.2
	1,221,720		Wells Fargo Mortgage Backed Securities 2006-AR10 Trust, 2.625%, 07/25/36		1,194,411		0.2
	133,053		Wells Fargo Mortgage-Backed Securities Trust, 2.591%, 10/25/33		134,289		0.0
	257,910		Wells Fargo Mortgage-Backed Securities Trust, 2.614%, 12/25/34		259,951		0.0
	174,727		Wells Fargo Mortgage-Backed Securities Trust, 2.615%, 01/25/35		177,496		0.0
		Total Collateralized Mortgage Obligations
		(Cost $78,032,213)			79,623,485		12.9
MUNICIPAL BONDS: 1.1%
			California: 0.6%
	1,200,000		California State Public Works Board, 7.804%, 03/01/35		1,671,564		0.3
	500,000		California State University, 6.434%, 11/01/30		650,560		0.1
	200,000		Los Angeles County Public Works Financing Authority, 7.488%, 08/01/33		272,530		0.0
	300,000		Los Angeles County Public Works Financing Authority, 7.618%, 08/01/40		436,983		0.1
	100,000		State of California, 7.700%, 11/01/30		125,691		0.0
	200,000		University of California, 6.398%, 05/15/31		255,222		0.0
	300,000		University of California, 6.548%, 05/15/48		408,783		0.1
					3,821,333		0.6
			Nevada: 0.5%
	3,300,000		City of North Las Vegas NV, 6.572%, 06/01/40		2,924,823		0.5
			New York: 0.0%
	200,000		Tobacco Settlement Financing Corp., 6.250%, 06/01/42		200,628		0.0
		Total Municipal Bonds
		(Cost $6,297,135)			6,946,784		1.1
U.S. GOVERNMENT AGENCY OBLIGATIONS: 23.7%
			Federal Home Loan Mortgage Corporation: 6.4%##
	27,000		0.750%, due 01/12/18		26,955		0.0
	160,677		1.328%, due 10/25/44		164,968		0.0
	776,518		1.521%, due 07/25/44		792,536		0.1
	59,227		1.845%, due 09/01/35		62,781		0.0
	187,485		1.875%, due 03/25/24		194,477		0.0
	8,786		2.404%, due 04/01/32		9,320		0.0
	2,648		3.500%, due 07/15/32		2,716		0.0
	31,132,683		3.500%, due 01/01/45		32,670,815		5.3
	212,714		4.500%, due 03/01/41		233,900		0.1
	20,378		5.500%, due 03/01/23		22,820		0.0
	40,555		5.500%, due 05/01/23		45,446		0.0
	583		5.500%, due 08/15/30		620		0.0
	275,258		5.500%, due 06/01/36		310,714		0.1
	475,658		5.500%, due 12/01/37		540,481		0.1
	388,611		5.500%, due 04/01/38		436,225		0.1
	94,114		5.500%, due 07/01/38		105,626		0.0
	485		6.000%, due 10/01/17		496		0.0
	7,241		6.000%, due 02/01/22		8,227		0.0
	127,650		6.000%, due 03/01/23		145,062		0.0
	15,991		6.000%, due 05/01/37		18,163		0.0
	188,199		6.000%, due 07/01/37		214,142		0.0
	179,917		6.000%, due 08/01/37		204,744		0.0
	1,403,751		6.000%, due 09/01/37		1,595,164		0.3
	2,437		6.000%, due 10/01/37		2,798		0.0
	21,311		6.000%, due 12/01/37		24,214		0.0
	246,492		6.000%, due 01/01/38		279,809		0.1
	189,897		6.000%, due 02/01/38		215,713		0.0
	5,627		6.000%, due 04/01/38		6,393		0.0
	33,954		6.000%, due 06/01/38		38,848		0.0
	5,995		6.000%, due 07/01/38		6,814		0.0
	132,980		6.000%, due 08/01/38		151,829		0.0
	200,315		6.000%, due 11/01/38		228,469		0.1
	33,283		6.000%, due 05/01/39		37,836		0.0
	409,188		6.000%, due 08/01/39		464,971		0.1
					39,264,092		6.4

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
			Federal National Mortgage Association: 16.6%##
	196,862		0.234%, due 07/25/37	$	191,069		0.0
	52,837		0.294%, due 03/25/34		52,646		0.0
	45,753		1.328%, due 10/01/44		46,862		0.0
	69,054		1.328%, due 10/01/44		70,749		0.0
	435,485		1.504%, due 02/01/33		455,555		0.1
	35,031		1.674%, due 04/25/24		36,426		0.0
	240,862		1.749%, due 09/01/35		252,733		0.1
	2,599		1.750%, due 02/01/20		2,609		0.0
	88,761		1.940%, due 08/01/35		94,311		0.0
	170,743		2.300%, due 02/01/35		182,718		0.0
	4,744		2.342%, due 09/01/31		5,080		0.0
	54,555		2.384%, due 04/01/32		56,559		0.0
	129,748		2.435%, due 09/01/34		139,214		0.0
	8,800,000	W	2.500%, due 11/25/26		9,020,343		1.5
	28,647,000	W	3.000%, due 05/01/43		29,219,380		4.7
	11,000	W	3.500%, due 12/25/40		11,526		0.0
	33,821		4.000%, due 07/01/18		35,747		0.0
	146,907		4.000%, due 08/01/18		155,271		0.0
	765,669		4.000%, due 09/01/18		809,259		0.1
	147,542		4.000%, due 08/01/19		155,942		0.0
	77,098		4.000%, due 03/01/24		81,838		0.0
	53,486		4.000%, due 03/01/24		56,669		0.0
	82,218		4.000%, due 04/01/24		86,905		0.0
	78,418		4.000%, due 04/01/24		82,966		0.0
	55,610		4.000%, due 04/01/24		58,794		0.0
	82,340		4.000%, due 04/01/24		87,073		0.0
	619,888		4.000%, due 04/01/24		656,748		0.1
	59,902		4.000%, due 04/01/24		63,997		0.0
	61,802		4.000%, due 05/01/24		65,473		0.0
	495,562		4.000%, due 05/01/24		524,861		0.1
	102,070		4.000%, due 05/01/24		108,065		0.0
	57,793		4.000%, due 05/01/24		61,206		0.0
	77,076		4.000%, due 05/01/24		81,707		0.0
	542,661		4.000%, due 05/01/24		574,473		0.1
	497,665		4.000%, due 05/01/24		527,188		0.1
	567,863		4.000%, due 05/01/24		601,635		0.1
	84,149		4.000%, due 05/01/24		89,202		0.0
	639,020		4.000%, due 06/01/24		677,504		0.1
	550,527		4.000%, due 06/01/24		582,942		0.1
	60,509		4.000%, due 07/01/24		64,140		0.0
	31,799		4.000%, due 08/01/24		33,711		0.0
	48,621		4.000%, due 09/01/24		51,527		0.0
	200,531		4.000%, due 10/01/24		212,581		0.0
	39,497		4.000%, due 01/01/25		41,863		0.0
	18,499		4.000%, due 02/01/25		19,608		0.0
	20,517		4.000%, due 04/01/25		21,742		0.0
	13,737		4.000%, due 05/01/25		14,612		0.0
	10,651		4.000%, due 06/01/25		11,329		0.0
	67,232		4.000%, due 07/01/25		71,489		0.0
	26,076		4.000%, due 10/01/25		27,970		0.0
	32,257		4.000%, due 11/01/25		34,275		0.0
	248,542		4.000%, due 01/01/26		264,140		0.1
	461,242		4.000%, due 01/01/26		490,538		0.1
	12,063		4.000%, due 02/01/26		13,019		0.0
	22,408		4.000%, due 02/01/26		23,697		0.0
	153,403		4.000%, due 03/01/26		163,502		0.0
	1,509,528		4.000%, due 04/01/26		1,609,221		0.3
	26,003		4.000%, due 04/01/26		27,713		0.0
	19,913		4.000%, due 04/01/26		21,229		0.0
	86,276		4.000%, due 04/01/26		91,989		0.0
	73,022		4.000%, due 05/01/26		77,842		0.0
	53,420		4.000%, due 06/01/26		56,944		0.0
	53,716		4.000%, due 06/01/26		57,075		0.0
	115,677		4.000%, due 06/01/26		122,344		0.0
	66,139		4.000%, due 07/01/26		70,510		0.0
	177,955		4.000%, due 07/01/26		192,113		0.0
	38,625		4.000%, due 10/01/31		41,379		0.0
	36,000	W	4.000%, due 04/25/39		38,495		0.0
	24,925,698		4.000%, due 02/01/45		26,792,386		4.4
	33,802		4.360%, due 12/01/36		36,057		0.0
	3,779		4.500%, due 12/01/16		3,964		0.0
	4,445		4.500%, due 10/01/17		4,662		0.0
	4,439		4.500%, due 02/01/18		4,656		0.0
	519,515		4.500%, due 02/01/18		544,911		0.1
	8,665		4.500%, due 06/01/18		9,089		0.0
	25,429		4.500%, due 07/01/18		26,672		0.0
	63,395		4.500%, due 10/01/18		66,494		0.0
	11,076		4.500%, due 03/01/19		11,618		0.0
	27,551		4.500%, due 01/01/20		29,050		0.0
	20,109		4.500%, due 03/01/24		21,666		0.0
	492,263		4.500%, due 11/01/24		530,847		0.1
	13,424		4.500%, due 06/01/25		14,484		0.0
	39,244		4.500%, due 07/01/25		42,104		0.0
	205,966		4.500%, due 01/01/26		222,141		0.1
	134,728		4.500%, due 07/01/26		145,384		0.0
	204,056		4.500%, due 02/01/31		223,815		0.1
	2,448		4.500%, due 02/01/39		2,670		0.0
	3,929,683		4.500%, due 05/01/39		4,329,920		0.7
	442,897		4.500%, due 05/01/39		483,214		0.1
	659,050		4.500%, due 05/01/40		721,512		0.1
	97,275		4.500%, due 12/01/40		106,646		0.0
	644,866		4.500%, due 03/01/41		711,247		0.1
	1,057,039		4.500%, due 05/01/42		1,156,763		0.2
	20,015		4.500%, due 06/01/42		21,838		0.0
	5,042		5.000%, due 12/01/23		5,601		0.0
	490,236		5.000%, due 09/01/35		545,245		0.1
	224,298		5.000%, due 10/01/35		249,568		0.1
	314,949		5.000%, due 12/01/35		350,429		0.1
	191,878		5.000%, due 04/01/38		215,144		0.0
	2,163		5.500%, due 04/01/21		2,318		0.0
	23,912		5.500%, due 06/01/22		26,021		0.0
	2,206		5.500%, due 11/01/22		2,322		0.0
	2,054		5.500%, due 11/01/22		2,160		0.0
	35,657		5.500%, due 11/01/22		38,557		0.0
	33,332		5.500%, due 05/01/23		35,047		0.0
	166,900		5.500%, due 06/01/23		187,833		0.0
	26,951		5.500%, due 07/01/23		29,696		0.0
	86,887		5.500%, due 07/01/23		95,878		0.0
	61,065		5.500%, due 09/01/23		67,315		0.0
	231,690		5.500%, due 07/01/25		260,750		0.1
	53,366		5.500%, due 07/01/26		60,059		0.0
	23,868		5.500%, due 12/01/27		26,862		0.0
	22,292		5.500%, due 04/01/28		25,088		0.0
	23,910		5.500%, due 08/01/28		26,908		0.0
	26,619		5.500%, due 01/01/29		29,957		0.0
	56,522		5.500%, due 09/01/29		63,612		0.0
	230,036		5.500%, due 10/01/29		259,016		0.1
	210,325		5.500%, due 04/01/33		238,186		0.1
	20,788		5.500%, due 11/01/33		23,545		0.0
	48,372		5.500%, due 12/01/33		54,788		0.0
	210,800		5.500%, due 01/01/34		238,755		0.1
	47,035		5.500%, due 06/01/34		53,233		0.0
	54,065		5.500%, due 01/01/35		61,236		0.0
	33,427		5.500%, due 02/01/35		37,822		0.0
	86,469		5.500%, due 06/01/35		97,453		0.0
	50,662		5.500%, due 07/01/35		57,271		0.0
	13,525		5.500%, due 10/01/35		15,237		0.0
	221,167		5.500%, due 11/01/35		249,911		0.1

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
			Federal National Mortgage Association: (continued)
	57,036		5.500%, due 12/01/35	$	64,312		0.0
	536,503		5.500%, due 12/01/35		605,643		0.1
	68,956		5.500%, due 01/01/36		77,607		0.0
	264,966		5.500%, due 09/01/36		299,829		0.1
	625,041		5.500%, due 12/01/36		703,438		0.1
	11,200		5.500%, due 12/01/36		12,605		0.0
	545,810		5.500%, due 12/01/36		615,176		0.1
	4,954		5.500%, due 12/01/36		5,580		0.0
	215,981		5.500%, due 02/01/37		243,112		0.1
	10,171		5.500%, due 05/01/37		11,447		0.0
	76,250		5.500%, due 05/01/37		85,813		0.0
	54,368		5.500%, due 08/01/37		61,436		0.0
	182,578		5.500%, due 03/01/38		207,133		0.0
	39,748		5.500%, due 05/01/38		44,734		0.0
	1,463,988		5.500%, due 06/01/38		1,647,613		0.3
	44,640		5.500%, due 08/01/38		50,324		0.0
	837,189		5.500%, due 11/01/38		942,196		0.2
	217,607		5.500%, due 01/01/39		245,061		0.1
	85,525		5.500%, due 03/01/39		96,966		0.0
	415,036		5.500%, due 09/01/41		467,093		0.1
	24,498		6.000%, due 06/01/17		25,268		0.0
	8,202		6.000%, due 01/01/18		8,528		0.0
	3,234		6.000%, due 12/01/18		3,683		0.0
	5,365		6.000%, due 05/01/21		6,111		0.0
	58,798		6.000%, due 04/01/22		66,973		0.0
	127,204		6.000%, due 06/01/22		144,907		0.0
	19,481		6.000%, due 01/01/23		22,190		0.0
	1,162		6.000%, due 11/01/32		1,324		0.0
	443,729		6.000%, due 06/01/35		509,240		0.1
	24,070		6.000%, due 07/01/35		27,540		0.0
	23,237		6.000%, due 07/01/35		26,484		0.0
	17,758		6.000%, due 10/01/35		20,325		0.0
	127,393		6.000%, due 02/01/36		145,789		0.0
	6,822		6.000%, due 06/01/36		7,771		0.0
	11,656		6.000%, due 07/01/36		13,359		0.0
	781,192		6.000%, due 08/01/36		900,858		0.2
	2,324		6.000%, due 09/01/36		2,647		0.0
	301,421		6.000%, due 09/01/36		344,188		0.1
	119,843		6.000%, due 10/01/36		136,721		0.0
	172,986		6.000%, due 11/01/36		198,227		0.0
	43,810		6.000%, due 12/01/36		49,915		0.0
	2,400		6.000%, due 01/01/37		2,735		0.0
	12,045		6.000%, due 02/01/37		13,719		0.0
	64,769		6.000%, due 03/01/37		73,837		0.0
	38,267		6.000%, due 03/01/37		43,661		0.0
	49,462		6.000%, due 05/01/37		56,484		0.0
	40,964		6.000%, due 05/01/37		46,672		0.0
	388,160		6.000%, due 05/01/37		442,899		0.1
	214,568		6.000%, due 08/01/37		244,747		0.1
	19,888		6.000%, due 08/01/37		22,961		0.0
	77,307		6.000%, due 08/01/37		88,237		0.0
	21,250		6.000%, due 09/01/37		24,205		0.0
	115,110		6.000%, due 10/01/37		131,448		0.0
	107,287		6.000%, due 10/01/37		122,238		0.0
	5,009		6.000%, due 12/01/37		5,778		0.0
	5,108		6.000%, due 03/01/38		5,874		0.0
	52,922		6.000%, due 06/01/38		60,329		0.0
	152,509		6.000%, due 07/01/38		174,005		0.0
	4,758		6.000%, due 08/01/38		5,473		0.0
	1,729		6.000%, due 08/01/38		1,970		0.0
	157,587		6.000%, due 10/01/38		179,498		0.0
	68,726		6.000%, due 10/01/38		78,400		0.0
	272,714		6.000%, due 10/01/38		310,633		0.1
	73,557		6.000%, due 10/01/38		83,784		0.0
	297,632		6.000%, due 11/01/38		339,015		0.1
	10,180		6.000%, due 12/01/38		11,596		0.0
	93,440		6.000%, due 10/01/39		106,601		0.0
	6,473		6.000%, due 10/01/39		7,463		0.0
	77,345		6.000%, due 04/01/40		88,357		0.0
	8,069		6.500%, due 03/01/17		8,385		0.0
	6,675		6.500%, due 07/01/29		7,670		0.0
	451,940		6.500%, due 06/17/38		464,002		0.1
					102,428,317		16.6
			Government National Mortgage Association: 0.7%
	12,888		0.575%, due 03/16/32		12,875		0.0
	96,677		5.000%, due 06/15/37		108,930		0.0
	84,098		5.000%, due 03/15/38		95,165		0.0
	182,047		5.000%, due 11/15/38		203,061		0.0
	141,635		5.000%, due 11/15/38		158,039		0.0
	62,205		5.000%, due 12/15/38		69,385		0.0
	321,394		5.000%, due 12/15/38		358,696		0.1
	940,490		5.000%, due 12/15/38		1,051,527		0.2
	479,460		5.000%, due 01/15/39		536,148		0.1
	168,242		5.000%, due 01/15/39		187,662		0.0
	476,312		5.000%, due 02/15/39		532,629		0.1
	304,858		5.000%, due 03/15/39		340,902		0.1
	348,785		5.000%, due 04/15/39		389,964		0.1
	269,479		5.000%, due 09/15/39		301,343		0.0
	53,799		5.000%, due 06/15/40		60,161		0.0
	102,007		5.000%, due 09/15/40		113,781		0.0
					4,520,268		0.7
		Total U.S. Government Agency Obligations
		(Cost $143,724,689)			146,212,677		23.7
FOREIGN GOVERNMENT BONDS: 1.1%
	300,000	#	Banco Nacional de Desenvolvimento Economico e Social, 3.375%, 09/26/16		301,875		0.0
	600,000		Eksportfinans ASA, 5.500%, 05/25/16		624,240		0.1
	500,000		Eksportfinans ASA, 5.500%, 06/26/17		533,750		0.1
	1,800,000		Export-Import Bank of Korea, 4.125%, 09/09/15		1,826,845		0.3
	2,700,000		Korea Development Bank, 4.375%, 08/10/15		2,734,908		0.4
	400,000	#	Korea Housing Finance Corp., 4.125%, 12/15/15		409,079		0.1
	500,000		Majapahit Holding BV, 7.250%, 06/28/17		550,000		0.1
		Total Foreign Government Bonds
		(Cost $6,832,551)			6,980,697		1.1
U.S. TREASURY OBLIGATIONS: 10.2%
			U.S. Treasury Bonds: 4.9%
	15,312,000		2.000%, due 02/15/25		15,410,089		2.5
	13,413,000		3.000%, due 11/15/44		14,700,862		2.4
					30,110,951		4.9

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. TREASURY OBLIGATIONS: (continued)
			U.S. Treasury Notes: 5.3%
	1,320,000		0.375%, due 03/31/16	$	1,321,238		0.2
	2,000		0.500%, due 02/28/17		1,998		0.0
	4,756,000		0.500%, due 03/31/17		4,750,055		0.8
	4,927,000		1.000%, due 03/15/18		4,944,708		0.8
	10,789,000		1.375%, due 03/31/20		10,791,525		1.7
	51,000		1.750%, due 02/28/22		51,151		0.0
	11,126,000		1.750%, due 03/31/22		11,154,683		1.8
					33,015,358		5.3
		Total U.S. Treasury Obligations
		(Cost $62,634,776)			63,126,309		10.2
ASSET-BACKED SECURITIES: 9.2%
			Automobile Asset-Backed Securities: 0.2%
	1,480,000		Santander Drive Auto Receivables Trust 2014-3, 2.650%, 08/17/20		1,478,550		0.2
			Home Equity Asset-Backed Securities: 0.3%
	1,300,000		Home Equity Asset Trust 2005-2, 1.269%, 07/25/35		1,165,023		0.2
	532,777		New Century Home Equity Loan Trust 2005-2, 0.664%, 06/25/35		436,436		0.1
					1,601,459		0.3
			Other Asset-Backed Securities: 8.7%
	500,000	#	Apidos Cinco CDO Ltd., 2.507%, 05/14/20		493,918		0.1
	939,275		Argent Securities, Inc. Asset-Backed Pass-Through Certificates Series 2004-W11, 1.299%, 11/25/34		806,996		0.1
	500,000	#	Black Diamond CLO 2005-1A C, 1.040%, 06/20/17		496,162		0.1
	4,604,008	#	Callidus Debt Partners CLO Fund VI Ltd. 6A A1T, 0.517%, 10/23/21		4,523,074		0.7
	625,000	#	Carlyle Veyron CLO Ltd., 0.933%, 07/15/18		619,027		0.1
	4,200,000	#	CIFC Funding Ltd, 1.407%, 08/14/24		4,198,942		0.7
	3,750,000	#	ColumbusNova CLO IV Ltd 2007-2A C, 2.503%, 10/15/21		3,685,339		0.6
	2,216,207		Countrywide Asset-Backed Certificates 2006-26 2A3, 0.344%, 06/25/37		2,029,534		0.3
	767,806		Countrywide Asset-Backed Certificates, 0.354%, 08/25/36		754,092		0.1
	521,055		Countrywide Asset-Backed Certificates, 0.354%, 09/25/36		510,842		0.1
	2,000,000	#	Denali Capital CLO VI Ltd., 1.956%, 04/21/20		1,994,848		0.3
	1,000,000	#	Duane Street CLO III Ltd., 1.012%, 01/11/21		985,430		0.2
	500,000	#	Eaton Vance CDO IX Ltd. 2007-9A D, 1.757%, 04/20/19		488,591		0.1
	1,000,000	#	Flagship CLO V, 0.620%, 09/20/19		981,696		0.2
	1,500,000	#	Flagship CLO V, 0.970%, 09/20/19		1,460,440		0.2
	1,500,000	#	Flagship CLO V, 1.820%, 09/20/19		1,453,317		0.2
	2,500,000	#	Gallatin CLO III Ltd. 2007-1A A2L, 0.597%, 05/15/21		2,445,993		0.4
	5,000,000	#	Gulf Stream - Compass CLO 2007-I Ltd., 1.156%, 10/28/19		4,946,770		0.8
	3,000,000	#	Hewett's Island CDO Ltd., 1.064%, 06/09/19		2,970,288		0.5
	2,230,005	#	Hillmark Funding, 0.512%, 05/21/21		2,205,885		0.4
	300,000	#	Invitation Homes Trust 2014-SFR2 E, 3.328%, 06/17/32		300,000		0.0
	2,000,000	#	Jersey Street CLO Ltd., 1.807%, 10/20/18		1,963,088		0.3
	36,977		JPMorgan Mortgage Acquisition Corp., 0.234%, 03/25/47		36,361		0.0
	58,753		Long Beach Mortgage Loan Trust, 0.734%, 10/25/34		56,813		0.0
	2,500,000	#	Madison Park Funding II Ltd., 5.793%, 03/25/20		2,668,340		0.4
	500,000	#	Madison Park Funding Ltd., 5.506%, 07/26/21		498,547		0.1
	2,500,000	#	Race Point IV CLO Ltd., 1.005%, 08/01/21		2,455,025		0.4
	1,700,000		Specialty Underwriting & Residential Finance Trust Series 2005-BC2, 1.149%, 12/25/35		1,516,468		0.3
	3,971,167	#	SpringCastle America Funding LLC, 2.700%, 05/25/23		3,986,509		0.7
	2,000,000	#	Telos CLO 2006-1 Ltd., 1.952%, 10/11/21		1,955,350		0.3
					53,487,685		8.7
		Total Asset-Backed Securities
		(Cost $56,375,369)			56,567,694		9.2
CERTIFICATES OF DEPOSIT: 0.6%
			Financial: 0.6%
	3,600,000		Credit Suisse/New York NY, 0.674%, 12/07/15		3,601,843		0.6
		Total Certificates of Deposit
		(Cost $3,600,000)			3,601,843		0.6

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
MUTUAL FUNDS: 9.9%
			Affiliated Investment Companies: 9.9%
	845,608		Voya Emerging Markets Corporate Debt Fund - Class P	$	8,320,778		1.3
	1,420,219		Voya Emerging Markets Hard Currency Debt Fund - Class P		13,449,475		2.2
	1,122,449		Voya Emerging Markets Local Currency Debt Fund - Class P		8,564,286		1.4
	1,270,866		Voya High Yield Bond Fund - Class P		10,344,847		1.7
	920,227		Voya Investment Grade Credit Fund - Class P		10,186,908		1.7
	986,450		Voya Securitized Credit Fund - Class P		10,160,434		1.6
		Total Mutual Funds
		(Cost $60,424,790)			61,026,728		9.9
		Total Long-Term Investments
		(Cost $609,438,648)			619,474,018		100.3

Principal Amount†				Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 8.2%
			Commercial Paper: 2.5%
	900,000		ENI Finance USA, Inc., 0.390%, 09/24/15		898,290		0.2
	8,600,000	#	ENI Finance USA, Inc., 0.632%, 04/10/15		8,599,966		1.4
	5,600,000	#	Macquarie Bank Ltd, 0.462%, 05/14/15		5,599,608		0.9
					15,097,864		2.5
			Securities Lending Collateralcc: 0.7%
	227,557		BNP Paribas Bank, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $227,558, collateralized by various U.S. Government Agency Obligations, 1.625%-6.000%, Market Value plus accrued interest $232,108, due 06/01/16-03/01/45)		227,557		0.0
	1,083,150		Daiwa Capital Markets, Repurchase Agreement dated 03/31/15, 0.18%, due 04/01/15 (Repurchase Amount $1,083,155, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.000%, Market Value plus accrued interest $1,104,813, due 02/15/16-03/01/48)		1,083,150		0.2
	1,083,150		Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $1,083,157, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $1,104,813, due 08/15/17-02/15/42)		1,083,150		0.2
	1,083,150		Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $1,083,154, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $1,104,813, due 08/18/15-10/20/64)		1,083,150		0.2
	1,083,150		State of Wisconsin Investment Board, Repurchase Agreement dated 03/31/15, 0.23%, due 04/01/15 (Repurchase Amount $1,083,157, collateralized by various U.S. Government Securities, 0.125%-2.500%, Market Value plus accrued interest $1,104,854, due 04/15/16-01/15/29)		1,083,150		0.1
					4,560,157		0.7

Shares				Value			Percentage of Net Assets
			Mutual Funds: 5.0%
	31,070,000		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $31,070,000)		31,070,000			5.0
		Total Short-Term Investments
		(Cost $50,728,021)			50,728,021			8.2
		Total Investments in Securities (Cost $660,166,669)		$	670,202,039			108.5
		Liabilities in Excess of Other Assets			(52,589,080	)		(8.5	)
		Net Assets		$	617,612,959			100.0

† Unless otherwise indicated, principal amount is shown in USD.

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

††	Rate shown is the 7-day yield as of March 31, 2015.
#	Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.
##	The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies.
cc	Represents securities purchased with cash collateral received for securities on loan.
W	Settlement is on a when-issued or delayed-delivery basis.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.
^	Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security.

Cost for federal income tax purposes is $660,270,359.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	12,042,857
Gross Unrealized Depreciation		(2,111,177	)
Net Unrealized Appreciation	$	9,931,680

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Mutual Funds	$	61,026,728		$	–		$	–	$	61,026,728
Corporate Bonds/Notes		–			195,387,801			–		195,387,801
Collateralized Mortgage Obligations		–			79,623,485			–		79,623,485
Municipal Bonds		–			6,946,784			–		6,946,784
Short-Term Investments		31,070,000			19,658,021			–		50,728,021
U.S. Treasury Obligations		–			63,126,309			–		63,126,309
Foreign Government Bonds		–			6,980,697			–		6,980,697
Certificates of Deposit		–			3,601,843			–		3,601,843
U.S. Government Agency Obligations		–			146,212,677			–		146,212,677
Asset-Backed Securities		–			56,567,694			–		56,567,694
Total Investments, at fair value	$	92,096,728		$	578,105,311		$	–	$	670,202,039
Other Financial Instruments+
Forward Foreign Currency Contracts		–			13,772			–		13,772
Futures		552,037			–			–		552,037
Total Assets	$	92,648,765		$	578,119,083		$	–	$	670,767,848
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts	$	–		$	(175,619	)	$	–	$	(175,619	)
Futures		(163,526	)		–			–		(163,526	)
Total Liabilities	$	(163,526	)	$	(175,619	)	$	–	$	(339,145	)

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

At March 31, 2015, the following forward foreign currency contracts were outstanding for Voya Aggregate Bond Portfolio:

Counterparty	Currency	Contract Amount		Buy/Sell	Settlement Date	In Exchange For		Fair Value		Unrealized Appreciation (Depreciation)
Morgan Stanley	EU Euro		368,914	Buy	05/22/15	$	419,006	$	396,945	$	(22,061	)
Morgan Stanley	Czech Koruna		20,428	Buy	06/19/15		793		798		5
										$	(22,056	)
Barclays Bank PLC	Hungarian Forint		117,011,294	Sell	06/19/15	$	407,400	$	418,048	$	(10,648	)
Barclays Bank PLC	Mexican Peso		15,312,705	Sell	06/19/15		983,905		998,549		(14,644	)
JPMorgan Chase & Co.	Malaysian Ringgit		3,048,628	Sell	05/22/15		831,436		818,058		13,378
JPMorgan Chase & Co.	South African Rand		10,528,200	Sell	06/19/15		833,138		856,762		(23,624	)
JPMorgan Chase & Co.	Brazilian Real		2,181,513	Sell	06/19/15		657,776		667,762		(9,986	)
Morgan Stanley	Thai Baht		19,189,553	Sell	05/22/15		586,298		588,429		(2,131	)
Morgan Stanley	Philippine Peso		1,704,692	Sell	05/22/15		38,463		38,074		389
Morgan Stanley	Indonesian Rupiah		8,973,148,800	Sell	05/22/15		666,901		675,616		(8,715	)
Morgan Stanley	Colombian Peso		1,515,655,680	Sell	06/19/15		557,842		577,448		(19,606	)
Morgan Stanley	Russian Ruble		16,662,166	Sell	06/19/15		254,968		277,485		(22,517	)
Morgan Stanley	Polish Zloty		3,179,304	Sell	06/19/15		811,772		836,786		(25,014	)
Morgan Stanley	Turkish Lira		2,291,588	Sell	06/19/15		852,208		864,114		(11,906	)
Morgan Stanley	Romanian New Leu		777,554	Sell	06/19/15		184,934		189,157		(4,223	)
Morgan Stanley	Chilean Peso		7,092,800	Sell	06/19/15		10,990		11,278		(288	)
Morgan Stanley	Peruvian Nuevo Sol		191,030	Sell	06/19/15		60,577		60,833		(256	)
										$	(139,791	)

At March 31, 2015, the following futures contracts were outstanding for Voya Aggregate Bond Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts
U.S. Treasury 2-Year Note	525	06/30/15	$	115,057,036		$	318,624
U.S. Treasury 5-Year Note	83	06/30/15		9,977,508			14,380
U.S. Treasury Long Bond	20	06/19/15		3,277,500			99,326
U.S. Treasury Ultra Long Bond	42	06/19/15		7,134,750			119,707
			$	135,446,794		$	552,037
Short Contracts
U.S. Treasury 10-Year Note	(143)	06/19/15		(18,433,594	)		(163,526	)
			$	(18,433,594	)	$	(163,526	)

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Aggregate Bond Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type	Fair Value
Foreign exchange contracts	Forward foreign currency contracts	$	13,772
Interest rate contracts	Futures contracts		552,037
Total Asset Derivatives		$	565,809

Liability Derivatives	Instrument Type	Fair Value
Foreign exchange contracts	Forward foreign currency contracts		175,619
Interest rate contracts	Futures contracts		163,526
Total Liability Derivatives		$	339,145

	PORTFOLIO OF INVESTMENTS
Voya Aggregate Bond Portfolio	as of March 31, 2015 (Unaudited) (Continued)

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at March 31, 2015:

	Barclays Bank PLC			JPMorgan Chase & Co.			Morgan Stanley			Totals
Assets:
Forward foreign currency contracts	$	-		$	13,378		$	394		$	13,772
Total Assets	$	-		$	13,378		$	394		$	13,772
Liabilities:
Forward foreign currency contracts	$	25,292		$	33,610		$	116,717		$	175,619
Total Liabilities	$	25,292		$	33,610		$	116,717		$	175,619
Net OTC derivative instruments by counterparty, at fair value	$	(25,292	)	$	(20,232	)	$	(116,323	)	$	(161,847	)
Total collateral pledged by the Portfolio/(Received from counterparty)	$	-		$	-		$	-		$	-
Net Exposure(1)	$	(25,292	)	$	(20,232	)	$	(116,323	)	$	(161,847	)

⁽¹⁾ Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio.

	PORTFOLIO OF INVESTMENTS
Voya Global Bond Portfolio	as of March 31, 2015 (Unaudited)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: 26.1%
			Australia: 0.3%
	703,000		BHP Billiton Finance USA Ltd, 5.000%, 09/30/43	$	808,402		0.3
			Canada: 0.1%
	402,000		Goldcorp, Inc., 3.700%, 03/15/23		398,600		0.1
			Cayman Islands: 0.2%
	601,000	#	Alibaba Group Holding Ltd., 3.600%, 11/28/24		604,135		0.2
			France: 0.6%
	294,000		BPCE SA, 2.500%, 12/10/18		301,245		0.1
	287,000	#	BPCE SA, 5.150%, 07/21/24		307,226		0.1
	940,000	#	Numericable Group SA, 6.000%, 05/15/22		955,275		0.4
					1,563,746		0.6
			Germany: 0.3%
	730,000		Deutsche Bank AG/London, 1.875%, 02/13/18		732,236		0.3
			Guernsey: 0.3%
	716,000	#	Credit Suisse Group Funding Guernsey Ltd., 2.750%, 03/26/20		721,751		0.3
			Italy: 0.1%
	286,000		Intesa Sanpaolo SpA, 3.875%, 01/15/19		301,906		0.1
			Japan: 0.4%
	790,000	#,L	Bank of Tokyo-Mitsubishi UFJ Ltd/The, 2.300%, 03/05/20		792,123		0.3
	200,000	#	Mizuho Bank Ltd., 3.200%, 03/26/25		200,181		0.1
					992,304		0.4
			Luxembourg: 0.3%
	690,000		Actavis Funding SCS, 2.350%, 03/12/18		699,720		0.2
	275,000		Intelsat Jackson Holdings SA, 7.500%, 04/01/21		283,594		0.1
					983,314		0.3
			Mexico: 0.0%
MXN	1,007,437	±	Banco Invex S.A., 03/13/34		–		–
MXN	221,421		JPMorgan Hipotecaria su Casita, 6.100%, 09/25/35		17,456		0.0
					17,456		0.0
			Netherlands: 0.5%
	200,000	#	Carlson Wagonlit BV, 6.875%, 06/15/19		210,500		0.1
	269,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands, 4.500%, 01/11/21		301,538		0.1
	650,000	#	NXP BV / NXP Funding LLC, 5.750%, 02/15/21		689,813		0.2
	282,000		Seagate HDD Cayman, 6.875%, 05/01/20		293,280		0.1
					1,495,131		0.5
			Norway: 0.1%
	380,000		Statoil ASA, 2.450%, 01/17/23		374,569		0.1
			Sweden: 0.3%
	298,000	#,L	Nordea Bank AB, 5.500%, 09/29/49		303,588		0.1
	670,000	#	Swedbank AB, 2.200%, 03/04/20		673,831		0.2
					977,419		0.3
			Switzerland: 0.3%
	400,000	#	Credit Suisse AG, 6.500%, 08/08/23		457,715		0.2
	250,000		UBS AG/Stamford CT, 7.625%, 08/17/22		303,660		0.1
					761,375		0.3
			United Kingdom: 0.7%
	1,002,000		Abbey National Treasury Services PLC/London, 2.375%, 03/16/20		1,010,319		0.4
	265,000	#	Barclays Bank PLC, 6.050%, 12/04/17		291,998		0.1
	200,000	#	Ineos Finance PLC, 8.375%, 02/15/19		212,890		0.1
	402,000		Vodafone Group PLC, 1.500%, 02/19/18		401,951		0.1
					1,917,158		0.7
			United States: 21.6%
	470,000		American International Group, Inc., 3.375%, 08/15/20		496,531		0.2
	447,000		Air Lease Corp., 4.250%, 09/15/24		461,527		0.2
	80,000		Albemarle Corp., 3.000%, 12/01/19		80,967		0.0
	570,000	#	Alliance Data Systems Corp., 5.375%, 08/01/22		570,000		0.2
	780,000		American Tower Corp., 5.000%, 02/15/24		854,465		0.3
	638,000		Amsurg Corp., 5.625%, 07/15/22		655,545		0.2
	415,000		Anthem, Inc., 5.100%, 01/15/44		477,954		0.2
	1,050,000		Apple Inc., 1.000%, 05/03/18		1,044,177		0.4
	243,000		AT&T, Inc., 2.500%, 08/15/15		244,658		0.1
	523,000		AvalonBay Communities, Inc., 3.500%, 11/15/24		538,415		0.2
	368,000		Bank of America Corp., 3.300%, 01/11/23		373,180		0.1
	458,000		Bank of America Corp., 4.100%, 07/24/23		489,226		0.2

Voya Global Bond Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			United States: (continued)
	309,000		Bank of America Corp., 4.000%, 04/01/24	$	329,186		0.1
	1,309,000		Barrick North America Finance LLC, 5.750%, 05/01/43		1,362,632		0.5
	374,000		BioMed Realty L.P., 4.250%, 07/15/22		391,232		0.1
	540,000	#	Calpine Corp., 6.000%, 01/15/22		580,500		0.2
	490,000		CBRE Services, Inc., 5.250%, 03/15/25		527,975		0.2
	628,000		CBS Corp., 3.700%, 08/15/24		647,911		0.2
	689,000		CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 02/15/23		698,474		0.3
	660,000	#	Cedar Fair L.P. / Canada's Wonderland Co. / Magnum Management Corp., 5.375%, 06/01/24		675,675		0.2
	621,000		Celgene Corp., 4.000%, 08/15/23		671,161		0.2
	515,000		CenturyLink, Inc., 5.625%, 04/01/20		542,681		0.2
	445,000		Chesapeake Energy Corp., 6.625%, 08/15/20		461,687		0.2
	172,000		Chesapeake Oilfield Operating LLC / Chesapeake Oilfield Finance, Inc., 6.625%, 11/15/19		131,580		0.1
	382,000		Citigroup, Inc., 4.000%, 08/05/24		392,653		0.1
	469,000		Citigroup, Inc., 5.500%, 09/13/25		532,636		0.2
	758,000		Citizens Bank NA/Providence RI, 2.450%, 12/04/19		768,163		0.3
	262,000		ConocoPhillips Co., 3.350%, 11/15/24		270,316		0.1
	262,000		ConocoPhillips Co., 4.300%, 11/15/44		278,824		0.1
	562,000	#	COX Communications, Inc., 2.950%, 06/30/23		554,522		0.2
	985,000		Devon Energy Corp., 5.600%, 07/15/41		1,151,301		0.4
	446,000		DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 3.500%, 03/01/16		455,882		0.2
	372,000		DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 5.150%, 03/15/42		390,825		0.1
	442,000		Discover Bank/Greenwood DE, 7.000%, 04/15/20		525,278		0.2
	265,000		DISH DBS Corp., 4.250%, 04/01/18		266,987		0.1
	310,000		Eastman Chemical Co., 2.700%, 01/15/20		314,827		0.1
	260,000		Eastman Chemical Co., 3.800%, 03/15/25		270,181		0.1
	680,000		Eaton Corp., 4.150%, 11/02/42		703,561		0.3
	585,000		eBay, Inc., 2.600%, 07/15/22		560,002		0.2
	1,026,000		Energy Transfer Partners L.P., 4.900%, 02/01/24		1,101,340		0.4
	1,276,000		Entergy Corp., 5.125%, 09/15/20		1,420,666		0.5
	539,000		Fifth Third Bancorp., 8.250%, 03/01/38		819,037		0.3
	532,000		FirstEnergy Corp., 4.250%, 03/15/23		557,782		0.2
	390,000		Freeport-McMoRan, Inc., 4.000%, 11/14/21		381,198		0.1
	660,000		Gannett Co., Inc., 5.125%, 07/15/20		690,525		0.3
	478,000		General Dynamics Corp., 2.250%, 11/15/22		470,276		0.2
	715,000		General Electric Capital Corp., 6.750%, 03/15/32		991,801		0.4
	310,000	#	Georgia-Pacific LLC, 3.163%, 11/15/21		318,234		0.1
	960,000	#	Glencore Funding LLC, 2.500%, 01/15/19		961,324		0.3
	289,000		Goldman Sachs Group, Inc., 4.800%, 07/08/44		322,303		0.1
	627,000		Goldman Sachs Group, Inc., 5.250%, 07/27/21		713,616		0.3
	605,000		Hartford Financial Services Group, Inc., 6.625%, 03/30/40		814,260		0.3
	721,000		HCP, Inc., 4.250%, 11/15/23		759,137		0.3
	292,000		Hewlett-Packard Co., 2.600%, 09/15/17		299,515		0.1
	70,000	#	Hilcorp Energy I L.P./Hilcorp Finance Co., 5.000%, 12/01/24		66,150		0.0
	274,000		HSBC USA, Inc., 5.000%, 09/27/20		307,952		0.1
	294,000		Huntington Bancshares, Inc./OH, 2.600%, 08/02/18		300,023		0.1
	1,165,000		Indiana Michigan Power, 7.000%, 03/15/19		1,389,282		0.5
	570,000	#	JBS USA LLC / JBS USA Finance, Inc., 5.875%, 07/15/24		578,550		0.2
	810,000		Jefferson Smurfit Escrow		–		–
	245,000		Jefferson Smurfit Escrow		–		–
	302,000	#	Jersey Central Power & Light Co., 4.700%, 04/01/24		330,119		0.1
	430,000	#	JM Smucker Co, 3.000%, 03/15/22		437,105		0.2
	362,000		JPMorgan Chase & Co., 1.625%, 05/15/18		360,916		0.1
	478,000		JPMorgan Chase & Co., 6.000%, 12/29/49		486,365		0.2
	57	#	Kern River Funding Corp., 4.893%, 04/30/18		61		0.0
	222,000		Kinder Morgan Energy Partners L.P., 4.250%, 09/01/24		227,431		0.1

Voya Global Bond Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			United States: (continued)
	476,000		Kohl's Corp., 4.750%, 12/15/23	$	523,754		0.2
	375,000	#	Medtronic, Inc., 3.150%, 03/15/22		389,750		0.1
	393,000	#	Medtronic, Inc., 3.500%, 03/15/25		411,702		0.2
	605,000		MGM Resorts International, 6.750%, 10/01/20		648,106		0.2
	372,000		Morgan Stanley, 3.750%, 02/25/23		390,542		0.1
	587,000		Morgan Stanley, 3.875%, 04/29/24		618,461		0.2
	618,000		Morgan Stanley, 4.100%, 05/22/23		643,826		0.2
	240,000		MPT Operating Partnership L.P./MPT Finance Corp., 6.375%, 02/15/22		261,048		0.1
	1,048,000		Mylan, Inc./PA, 2.600%, 06/24/18		1,070,799		0.4
	625,000		Netflix, Inc., 5.750%, 03/01/24		639,844		0.2
	490,000		Newell Rubbermaid, Inc., 2.875%, 12/01/19		499,872		0.2
	475,000		21st Century Fox America, Inc., 4.500%, 02/15/21		526,821		0.2
	422,000		21st Century Fox America, Inc., 5.400%, 10/01/43		515,921		0.2
	381,000		NextEra Energy Capital Holdings, Inc., 3.625%, 06/15/23		399,463		0.1
	568,000		Philip Morris International, Inc., 4.250%, 11/10/44		597,297		0.2
	390,000		Phillips 66, 4.875%, 11/15/44		419,378		0.2
	386,000		PPL Capital Funding, Inc., 3.400%, 06/01/23		400,932		0.1
	562,000		Prudential Financial, Inc., 4.600%, 05/15/44		598,380		0.2
	280,000		Regency Energy Partners L.P. / Regency Energy Finance Corp., 4.500%, 11/01/23		282,800		0.1
	280,000		Regency Energy Partners L.P. / Regency Energy Finance Corp., 5.500%, 04/15/23		290,500		0.1
	682,000		Reynolds American, Inc., 6.150%, 09/15/43		845,891		0.3
	470,000	#	Sable International Finance Ltd., 8.750%, 02/01/20		507,600		0.2
	325,000		Sabra Health Care L.P. / Sabra Capital Corp., 5.500%, 02/01/21		347,344		0.1
	335,000	L	SandRidge Energy, Inc., 7.500%, 03/15/21		209,375		0.1
	585,000	#	Sanmina Corp., 4.375%, 06/01/19		583,538		0.2
	130,000		Scripps Networks Interactive, Inc., 2.750%, 11/15/19		131,238		0.1
	260,000		Scripps Networks Interactive, Inc., 3.900%, 11/15/24		268,782		0.1
	462,000		Simon Property Group L.P., 4.250%, 10/01/44		485,579		0.2
	676,000		St Jude Medical, Inc., 2.500%, 01/15/16		686,087		0.2
	570,000		Starz LLC / Starz Finance Corp., 5.000%, 09/15/19		588,525		0.2
	326,000	#	Steel Dynamics, Inc., 5.125%, 10/01/21		329,668		0.1
	245,000		Stone Webster Escrow		–		–
	130,000		Sunoco Logistics Partners Operations L.P., 4.250%, 04/01/24		133,741		0.1
	445,000		Synchrony Financial, 4.250%, 08/15/24		465,734		0.2
	585,000		Tenet Healthcare Corp., 6.000%, 10/01/20		620,831		0.2
	340,000		Time Warner Cable, Inc., 5.875%, 11/15/40		408,137		0.1
	606,000		Time Warner, Inc., 6.500%, 11/15/36		789,051		0.3
	520,000		United Rentals North America, Inc., 7.625%, 04/15/22		571,480		0.2
	298,000		US Bancorp/MN, 3.600%, 09/11/24		311,262		0.1
	505,000	#	Valeant Pharmaceuticals International, 7.250%, 07/15/22		535,931		0.2
	540,000		Ventas Realty L.P. / Ventas Capital Corp., 2.700%, 04/01/20		546,474		0.2
	337,000		Verizon Communications, Inc., 5.012%, 08/21/54		351,245		0.1
	1,328,000		Verizon Communications, Inc., 5.150%, 09/15/23		1,523,591		0.6
	339,000		Verizon Communications, Inc., 6.550%, 09/15/43		440,831		0.2
	360,000		Walgreen Co., 3.100%, 09/15/22		363,239		0.1
	260,000		Walgreens Boots Alliance, Inc., 3.800%, 11/18/24		269,357		0.1
	599,000		Wells Fargo & Co., 4.100%, 06/03/26		631,986		0.2
	660,000	#	West Corp., 5.375%, 07/15/22		648,863		0.2
	510,000		Xerox Corp., 2.750%, 09/01/20		511,350		0.2
					60,084,191		21.6
		Total Corporate Bonds/Notes
		(Cost $69,539,526)			72,733,693		26.1
COLLATERALIZED MORTGAGE OBLIGATIONS: 12.4%
			United States: 12.4%
	541,189		Banc of America Alternative Loan Trust 2004-1 4A1, 4.750%, 02/25/19		545,425		0.2
	800,000		Banc of America Commercial Mortgage Trust 2007-3 AJ, 5.575%, 06/10/49		824,734		0.3

Voya Global Bond Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
			United States: (continued)
	700,000		Banc of America Commercial Mortgage Trust 2007-3 B, 5.575%, 06/10/49	$	715,855		0.3
	540,000		Banc of America Commercial Mortgage Trust 2007-4 AJ, 5.821%, 02/10/51		570,941		0.2
	1,116,680		Banc of America Funding Corp., 5.500%, 02/25/35		1,138,288		0.4
	1,130,000	#	Banc of America Merrill Lynch Commercial Mortgage, Inc. 2004-4 G, 5.418%, 07/10/42		1,161,438		0.4
	440,000		Banc of America Merrill Lynch Commercial Mortgage, Inc. 2005-6 C, 5.179%, 09/10/47		448,433		0.2
	440,000	#	Bear Stearns Commercial Mortgage Securities Trust 2004-PWR6, 5.406%, 11/11/41		489,087		0.2
	1,030,000		Bear Stearns Commercial Mortgage Securities Trust 2005-PWR8, 4.858%, 06/11/41		1,027,584		0.4
	500,000		Bear Stearns Commercial Mortgage Securities Trust 2005-TOP20, 5.142%, 10/12/42		506,915		0.2
	531,696	#	Beckman Coulter, Inc. 2000-A A, 7.498%, 12/15/18		589,332		0.2
	660,000	#	Citigroup Commercial Mortgage Trust 2004-C1 J, 5.250%, 04/15/40		662,724		0.2
	15,415	#	Citigroup Commercial Mortgage Trust 2004-C1, 5.679%, 04/15/40		15,501		0.0
	270,647		Citigroup Mortgage Loan Trust, Inc., 2.690%, 05/25/35		270,318		0.1
	680,000	#	COMM 2004-LNB2 H Mortgage Trust, 6.269%, 03/10/39		761,811		0.3
	4,090,408	^	COMM 2012-CCRE1 XA Mortgage Trust, 2.109%, 05/15/45		412,893		0.1
	11,220,172	^	COMM 2012-CCRE4 XA Mortgage Trust, 1.958%, 10/15/45		1,129,924		0.4
	2,988,301	^	COMM 2013-LC6 XA Mortgage Trust, 1.766%, 01/10/46		243,186		0.1
	4,431,464	^	COMM 2014-CCRE17 XA Mortgage Trust, 1.365%, 05/10/47		323,009		0.1
	480,000	#	Commercial Mortgage Trust 2004-GG1 F, 6.235%, 06/10/36		489,821		0.2
	228,000		Commercial Mortgage Trust 2007-GG11 AJ, 6.254%, 12/10/49		242,123		0.1
	380,000		Commercial Mortgage Trust, 5.225%, 07/15/44		385,780		0.1
	180,335		Countrywide Home Loan Mortgage Pass-through Trust, 5.500%, 11/25/35		190,007		0.1
	207,372		Countrywide Home Loan Mortgage Pass-through Trust, 5.500%, 09/25/35		204,748		0.1
	32,496	#	Credit Suisse First Boston Mortgage Securities Corp. 2003-C4 J, 5.322%, 08/15/36		32,524		0.0
	604,845	#	Credit Suisse Mortgage Capital Certificates 2009-3R 30A1, 2.253%, 07/27/37		607,620		0.2
	5,561,195	#,^	DBUBS 2011-LC1 XA Mortgage Trust, 1.372%, 11/10/46		116,183		0.0
	76,749	#	Deutsche Alternative-A Securities, Inc. Alternate Loan Trust, 0.676%, 01/27/37		111,958		0.0
	320,000		Fannie Mae Connecticut Avenue Securities 2014-C03 2M2, 3.074%, 07/25/24		299,508		0.1
	1,780,000		Fannie Mae Connecticut Avenue Securities, 5.074%, 11/25/24		1,879,052		0.7
	600,000		Freddie Mac Structured Agency Credit Risk Debt Notes - 2014-HQ2 M3, 3.924%, 09/25/24		588,018		0.2
	340,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2014-HQ3 M3, 4.924%, 10/25/24		356,916		0.1
	200,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2015-HQ1 M2, 2.373%, 03/25/25		200,278		0.1
	220,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2015-HQ1 M3, 3.973%, 03/25/25		221,653		0.1
	1,100,000		Freddie Mac Structured Agency Credit Risk Debt Notes, 4.724%, 10/25/24		1,139,950		0.4
	44,387,983	#,^	FREMF Mortgage Trust, 0.100%, 12/25/44		237,609		0.1
	165,795		GSR Mortgage Loan Trust, 2.670%, 09/25/35		165,771		0.1
	4,522,337	^	JP Morgan Chase Commercial Mortgage Securities Corp. 2012-LC9 XA, 1.887%, 12/15/47		409,437		0.1
	2,760,000	#,^	JP Morgan Chase Commercial Mortgage Securities Corp. 2012-LC9 XB, 0.358%, 12/15/47		67,749		0.0
	500,000		JP Morgan Chase Commercial Mortgage Securities Corp., 5.520%, 05/15/45		513,028		0.2

Voya Global Bond Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
			United States: (continued)
	502,934	#	JP Morgan Chase Commercial Mortgage Securities Trust 2003-LN1 H, 5.466%, 10/15/37	$	505,970		0.2
	270,000		JP Morgan Chase Commercial Mortgage Securities Trust 2004-CIBC9 E, 5.697%, 06/12/41		266,886		0.1
	8,553,128	^	JP Morgan Chase Commercial Mortgage Securities Trust 2012-CIBX XA, 1.755%, 06/15/45		643,940		0.2
	221,645		JPMorgan Mortgage Trust, 2.518%, 07/25/35		220,014		0.1
	360,000		LB-UBS Commercial Mortgage Trust 2005-C3 E, 4.983%, 07/15/40		361,543		0.1
	780,000		LB-UBS Commercial Mortgage Trust 2006-C4 D, 5.842%, 06/15/38		799,455		0.3
	260,000		LB-UBS Commercial Mortgage Trust 2006-C4 E, 5.842%, 06/15/38		264,718		0.1
	360,000	#	LB-UBS Commercial Mortgage Trust 2006-C6 JR14, 5.991%, 09/15/39		368,818		0.1
	150,000	#	LB-UBS Commercial Mortgage Trust 2006-C6 JR15, 5.991%, 09/15/39		152,654		0.1
	150,000	#	LB-UBS Commercial Mortgage Trust 2006-C6 JR16, 5.991%, 09/15/39		149,584		0.1
	239,086		MASTR Adjustable Rate Mortgages Trust, 2.587%, 04/25/36		231,009		0.1
	360,000		Merrill Lynch Mortgage Investors Trust Series 1998-C1-CTL E, 6.750%, 11/15/26		403,607		0.1
	7,603,711	^	Morgan Stanley Bank of America Merrill Lynch Trust 2014-C17 XA, 1.285%, 08/15/47		585,468		0.2
	125,547		Morgan Stanley Capital I Trust 2004-IQ7 C, 5.189%, 06/15/38		125,308		0.0
	335,104		Morgan Stanley Capital I Trust 2007-HQ13 A2, 5.649%, 12/15/44		337,470		0.1
	570,000	#	Morgan Stanley Capital I Trust 2011-C1 D, 5.252%, 09/15/47		628,808		0.2
	460,000	#	Morgan Stanley Capital I Trust 2011-C1 E, 5.252%, 09/15/47		501,381		0.2
	865,000	#	Morgan Stanley Capital I Trust 2011-C1, 5.252%, 09/15/47		966,488		0.3
	473,245	#	Morgan Stanley Re-REMIC Trust 2010-C30 A3B, 5.246%, 12/17/43		477,422		0.2
	290,000	#	Morgan Stanley Re-REMIC Trust, 0.250%, 07/27/49		257,143		0.1
	524,855	#	N-Star Real Estate CDO Ltd. 2013-1A A, 2.024%, 08/25/29		524,540		0.2
	8,338		Residential Accredit Loans, Inc., 3.040%, 04/25/35		1,250		0.0
	670,000	#	TIAA CMBS I Trust 2001-C1A L, 5.770%, 06/19/33		702,701		0.3
	6,695,824	#,^	UBS-Barclays Commercial Mortgage Trust 2012-C3 XA, 2.122%, 08/10/49		716,817		0.3
	1,320,000	#	Wachovia Bank Commercial Mortgage Trust Series 2005-C17 G, 6.015%, 03/15/42		1,317,394		0.5
	673,736		WaMu Mortgage Pass-Through Certificates Series 2007-HY2 1A1, 2.194%, 12/25/36		608,553		0.2
	6,107,421	#,^	Wells Fargo Commercial Mortgage Trust 2012-LC5 XA, 2.092%, 10/15/45		622,835		0.2
	783,068		Wells Fargo Mortgage Backed Securities  Trust 2005-AR14 A1, 5.374%, 08/25/35		780,503		0.3
	120,531		Wells Fargo Mortgage-Backed Securities Trust, 2.594%, 02/25/34		122,452		0.0
	330,409		Wells Fargo Mortgage-Backed Securities Trust, 2.617%, 02/25/35		332,849		0.1
	3,006,427	#,^	WFRBS Commercial Mortgage Trust 2012-C8 XA, 2.193%, 08/15/45		298,669		0.1
		Total Collateralized Mortgage Obligations
		(Cost $33,822,119)			34,573,380		12.4
STRUCTURED PRODUCTS: 0.1%
			Mexico: 0.1%
MXN	97,261		Reforma BLN-Backed I - Class 2A Asset Backed Variable Funding Notes, 58.810%, 05/22/15		5,876		0.0
MXN	170,161		Reforma BLN-Backed I - Class 2B Asset Backed Variable Funding Notes, 58.780%, 05/22/15		10,280		0.0
MXN	2,565,617		Reforma BLN-Backed I - Class 2C Asset Backed Variable Funding Notes, 58.780%, 05/22/15		154,995		0.1
MXN	186,979		Reforma BLN-Backed I - Class 2D Asset Backed Variable Funding Notes, 58.810%, 05/22/15		11,296		0.0
MXN	135,844		Reforma BLN-Backed I - Class 2E Asset Backed Variable Funding Notes, 58.810%, 05/22/15		8,206		0.0

Voya Global Bond Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
STRUCTURED PRODUCTS: (continued)
			Mexico: (continued)
MXN	86,756		Reforma BLN-Backed I - Class 2F Asset Backed Variable Funding Notes, 58.780%, 05/22/15	$	5,241		0.0
MXN	15,977		Reforma BLN-Backed I - Class 2G Asset Backed Variable Funding Notes, 58.770%, 05/22/15		965		0.0
					196,859		0.1
			Russia: 0.0%
RUB	6,812,653		Morgan Stanley & Co. International PLC - EM Whole Loan SA /Russian Federation Total Return Linked Bonds, Series 007, Cl. VR, 5.000%, 08/22/34		51,678		0.0
		Total Structured Products
		(Cost $558,390)			248,537		0.1
FOREIGN GOVERNMENT BONDS: 4.6%
			Austria: 1.3%
EUR	3,000,000	#	Austria Government Bond, 1.650%, 10/21/24		3,631,912		1.3
			Brazil: 0.2%
BRL	705,000		Brazil Notas do Tesouro Nacional Series F, 6.000%, 05/15/45		550,413		0.2
			Germany: 2.1%
EUR	3,410,000		Bundesrepublik Deutschland, 2.500%, 08/15/46		5,639,289		2.0
EUR	10,000		Bundesrepublik Deutschland, 2.000%, 08/15/23		12,493		0.0
EUR	170,000	Z	Bundesschatzanweisungen, (0.250)%, 12/11/15		183,107		0.1
					5,834,889		2.1
			South Africa: 0.0%
ZAR	1,000,000		Transnet SOC Ltd., 10.800%, 11/06/23		90,215		0.0
			Spain: 1.0%
EUR	2,340,000	#	Spain Government Bond, 2.750%, 10/31/24		2,872,024		1.0
		Total Foreign Government Bonds
		(Cost $13,458,113)			12,979,453		4.6
U.S. TREASURY OBLIGATIONS: 7.6%
			U.S. Treasury Bonds: 4.6%
	9,988,000		2.000%, due 02/15/25		10,051,983		3.6
	2,547,000		3.000%, due 11/15/44		2,791,553		1.0
					12,843,536		4.6
			U.S. Treasury Notes: 3.0%
	105,000		0.500%, due 03/31/17		104,869		0.1
	375,000		1.000%, due 03/15/18		376,348		0.1
	1,082,000		1.375%, due 03/31/20		1,082,253		0.4
	62,000		1.750%, due 02/28/22		62,184		0.0
	6,669,000		1.750%, due 03/31/22		6,686,192		2.4
					8,311,846		3.0
		Total U.S. Treasury Obligations
		(Cost $21,098,314)			21,155,382		7.6
U.S. GOVERNMENT AGENCY OBLIGATIONS: 19.2%
			Federal Home Loan Mortgage Corporation: 6.5%##
	49,725		0.625%, due 02/15/29		50,316		0.0
	17,517		0.675%, due 03/15/32		17,746		0.0
	69,827		0.675%, due 01/15/33		70,429		0.0
	24,867		1.125%, due 08/15/31		25,646		0.0
	15,055		1.125%, due 02/15/32		15,519		0.0
	14,883		1.175%, due 02/15/32		15,289		0.0
	14,509		1.175%, due 02/15/32		14,905		0.0
	21,547		1.175%, due 03/15/32		22,150		0.0
	4,939,000	W	3.000%, due 05/01/43		5,027,265		1.8
	2,414,000	W	3.500%, due 09/15/41		2,530,127		0.9
	1,074,611	^	4.000%, due 02/15/43		206,957		0.1
	17,002,616	^	4.000%, due 04/15/43		3,104,011		1.1
	7,164,231	^	4.276%, due 05/15/36		749,725		0.3
	7,276		5.000%, due 01/01/20		7,733		0.0
	32,545		5.000%, due 02/01/20		34,667		0.0
	226,734		5.000%, due 09/15/23		246,595		0.1
	858,118		5.000%, due 02/15/34		933,524		0.3
	790,193		5.000%, due 11/15/34		879,528		0.3
	21,741		5.000%, due 12/01/34		24,199		0.0
	17,016		5.500%, due 01/01/18		17,846		0.0
	2,863,696	^	5.776%, due 10/15/36		398,104		0.2
	7,432,240	^	5.826%, due 05/15/36		827,867		0.3
	5,851,674	^	5.876%, due 07/15/40		948,311		0.4
	156,369	^	5.976%, due 07/15/35		27,893		0.0
	12,215		6.000%, due 05/15/17		12,712		0.0
	60,368		6.000%, due 02/01/34		69,430		0.0
	2,806,284	^	6.076%, due 11/15/32		543,411		0.2
	1,572,203	^	6.426%, due 08/15/28		152,028		0.1
	3,748		6.500%, due 04/01/18		3,887		0.0
	16,595		6.500%, due 02/01/22		19,023		0.0
	22,084		6.500%, due 09/01/22		25,315		0.0
	63,478		6.500%, due 04/15/28		71,347		0.0
	12,398		6.500%, due 06/15/31		13,966		0.0
	111,649		6.500%, due 02/15/32		130,822		0.1
	77,794		6.500%, due 06/15/32		91,764		0.0
	5,882		6.500%, due 08/01/32		6,980		0.0
	10,829		6.500%, due 07/01/34		12,411		0.0
	9,999		6.500%, due 07/01/34		11,490		0.0
	67,269		6.750%, due 02/15/24		75,043		0.0
	116,637		7.000%, due 09/15/26		132,089		0.1
	18,907	^	7.000%, due 03/15/28		3,781		0.0
	104,936	^	7.000%, due 04/15/28		20,910		0.0
	169,033	^	7.476%, due 03/15/29		38,579		0.0
	97,086		7.500%, due 09/15/22		108,811		0.1
	162,532	^	7.526%, due 03/15/29		32,092		0.0
	110,771		8.000%, due 05/15/35		126,198		0.1
	237,324	^	8.776%, due 08/15/29		61,016		0.0
	13,340		23.744%, due 06/15/34		14,917		0.0
	32,994		24.110%, due 08/15/35		50,853		0.0
					18,025,227		6.5
			Federal National Mortgage Association: 11.2%##
	9,476		0.574%, due 11/25/33		9,541		0.0
	10,122		0.677%, due 10/18/32		10,265		0.0

Voya Global Bond Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
			Federal National Mortgage Association: (continued)
	34,959		1.174%, due 12/25/31	$	35,919		0.0
	4,775		1.174%, due 04/25/32		4,911		0.0
	15,516		1.174%, due 04/25/32		15,958		0.0
	46,926		1.174%, due 09/25/32		48,290		0.0
	46,932		1.174%, due 12/25/32		48,296		0.0
	333,572		2.371%, due 10/01/36		356,525		0.1
	768,000	W	2.500%, due 11/25/26		787,230		0.3
	2,494,053	^	3.000%, due 06/25/33		378,212		0.1
	1,501,000	W	3.000%, due 05/01/43		1,530,991		0.6
	1,136,666		3.000%, due 07/01/43		1,164,482		0.4
	3,972,414		3.000%, due 07/01/43		4,082,669		1.5
	1,352,043	^	3.500%, due 08/25/33		183,498		0.1
	749,000	W	3.500%, due 12/25/40		784,841		0.3
	807,319	^	3.500%, due 08/25/43		160,473		0.1
	4,282,459	^	3.876%, due 02/25/37		119,846		0.0
	4,194,000	W	4.000%, due 04/25/39		4,484,631		1.6
	2,549,024	^	4.000%, due 06/25/42		408,696		0.2
	174,385		4.500%, due 08/25/25		187,513		0.1
	964,400	W	4.500%, due 05/15/35		1,049,614		0.4
	4,795,352		4.500%, due 05/01/44		5,238,494		1.9
	3,012,909	^	5.000%, due 05/25/18		157,533		0.1
	409,124		5.000%, due 07/25/40		439,553		0.2
	142,897		5.000%, due 06/01/41		159,356		0.1
	21,688		5.500%, due 09/01/19		23,022		0.0
	17,176		5.500%, due 09/01/19		18,169		0.0
	53,625		5.500%, due 09/01/24		60,351		0.0
	85,120	^	5.500%, due 07/25/33		16,430		0.0
	35,471	^	5.500%, due 06/01/35		6,949		0.0
	3,542,861	^	5.766%, due 01/25/38		641,003		0.2
	6,465,727	^	5.776%, due 09/25/41		1,024,037		0.4
	5,333,988	^	5.806%, due 11/25/41		930,427		0.3
	3,657,985	^	5.926%, due 01/25/43		974,407		0.4
	10,817		6.000%, due 03/25/17		11,197		0.0
	19,459		6.000%, due 06/01/17		20,171		0.0
	14,156		6.000%, due 05/01/21		15,351		0.0
	38,814		6.000%, due 01/25/32		44,547		0.0
	157,239	^	6.000%, due 12/01/32		34,006		0.0
	66,287	^	6.000%, due 02/01/33		13,188		0.0
	78,572	^	6.000%, due 03/01/33		17,220		0.0
	65,430	^	6.000%, due 03/01/33		13,095		0.0
	201,638		6.000%, due 11/01/34		231,561		0.1
	308,048		6.000%, due 04/01/35		353,784		0.1
	36,398	^	6.000%, due 09/01/35		5,964		0.0
	5,444,921	^	6.276%, due 02/25/42		955,246		0.3
	163,456	^	6.366%, due 06/25/37		26,483		0.0
	527,447	^	6.396%, due 06/25/36		100,035		0.0
	24,984		6.500%, due 04/25/29		28,755		0.0
	37,543		6.500%, due 11/25/29		43,141		0.0
	131,268		6.500%, due 12/01/29		153,993		0.1
	43,043		6.500%, due 10/25/31		49,447		0.0
	268,259	^	6.500%, due 02/01/32		61,790		0.0
	40,383		6.500%, due 04/25/32		45,681		0.0
	53,752		6.500%, due 01/01/34		62,703		0.0
	30,241	^	6.576%, due 05/25/35		5,924		0.0
	44,230	^	6.926%, due 06/25/23		5,604		0.0
	575		7.000%, due 11/01/17		585		0.0
	45,771	^	7.000%, due 02/01/28		9,105		0.0
	56,950	^	7.000%, due 03/25/33		15,686		0.0
	1,287		7.000%, due 04/01/33		1,575		0.0
	45,495	^	7.000%, due 04/25/33		9,626		0.0
	144,121	^	7.056%, due 09/25/36		27,607		0.0
	257,556	^	7.376%, due 10/25/33		47,544		0.0
	152,729	^	7.456%, due 03/25/23		8,078		0.0
	65,837	^	7.500%, due 01/01/24		12,269		0.0
	34,993		7.500%, due 09/01/32		42,239		0.0
	90,138		7.500%, due 01/01/33		111,260		0.0
	157,780	^	7.576%, due 07/25/31		35,607		0.0
	91,431	^	7.576%, due 02/25/32		17,985		0.0
	53,676	^	7.776%, due 07/25/32		12,540		0.0
	1,867,391	^	7.823%, due 12/18/32		404,884		0.2
	418,620		8.000%, due 05/25/43		479,238		0.2
	125,535		23.305%, due 07/25/35		159,433		0.1
	94,828		23.562%, due 06/25/36		140,207		0.1
	32,452		23.930%, due 03/25/36		52,141		0.0
	248,774		24.104%, due 10/25/40		565,651		0.2
	63,117		27.396%, due 04/25/35		104,898		0.0
	604,015		32.581%, due 11/25/36		1,085,716		0.4
					31,184,892		11.2
			Government National Mortgage Association: 1.5%
	11,101,682	^	4.000%, due 04/20/38		939,368		0.4
	84,839		5.000%, due 04/15/34		95,455		0.0
	5,641,835	^	5.674%, due 06/20/40		865,597		0.3
	26,346		6.500%, due 02/20/35		31,896		0.0
	3,037,135	^	6.526%, due 07/16/41		653,045		0.2
	62,652		8.000%, due 01/16/30		72,420		0.0
	280,981		8.000%, due 02/16/30		327,230		0.1
	781,200		21.478%, due 03/20/37		1,215,543		0.5
					4,200,554		1.5
		Total U.S. Government Agency Obligations
		(Cost $51,364,376)			53,410,673		19.2
ASSET-BACKED SECURITIES: 5.3%
			Cayman Islands: 4.8%
	740,000	#	Ares XII CLO Ltd. 2007-12A C, 2.262%, 11/25/20		740,389		0.3
	950,000	#	Black Diamond CLO 2005-1A C, 1.040%, 06/20/17		942,709		0.3
	1,000,000	#	Bluemountain CLO III Ltd. 2007-3A C, 0.961%, 03/17/21		972,435		0.3
	1,450,000	#	Castle Garden Funding 2005-1A C1, 2.012%, 10/27/20		1,438,704		0.5
	1,000,000	#	ColumbusNova CLO IV Ltd 2007-2A C, 2.503%, 10/15/21		982,757		0.3
	500,000	#	ColumbusNova CLO Ltd 2006-2A E, 4.006%, 04/04/18		494,902		0.2
	1,100,000	#	Eaton Vance CDO IX Ltd. 2007-9A D, 1.757%, 04/20/19		1,074,900		0.4
	400,000	#	Halcyon Structured Asset Management Long Secured/Short Unsecured 2007-1 Ltd. B, 0.706%, 08/07/21		393,594		0.1
	1,300,000	#	Madison Park Funding Ltd., 1.256%, 07/26/21		1,275,799		0.5
	1,550,000	#	Muir Grove CLO Ltd. 2007-1A B, 2.256%, 03/25/20		1,549,216		0.5
	500,000	#	Northwoods Capital VIII Ltd., 2.256%, 07/28/22		493,512		0.2

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Cayman Islands: (continued)
	1,000,000	#	Vitesse CLO Ltd. 2006-1A B1L, 2.057%, 08/17/20	$	997,110		0.4
	1,000,000	#	WhiteHorse III Ltd./Corp 2006-1A A3L, 1.005%, 05/01/18		999,934		0.4
	1,000,000	#	WhiteHorse III Ltd/Corp, 2.105%, 05/01/18		998,816		0.4
					13,354,777		4.8
			United States: 0.5%
	180,000	#	Invitation Homes Trust 2013-SFR1 E, 2.900%, 12/17/30		177,274		0.1
	280,000	#	Invitation Homes Trust 2014-SFR1 A, 1.177%, 06/17/31		277,466		0.1
	280,000	#	Invitation Homes Trust 2014-SFR1 C, 2.273%, 06/17/31		281,964		0.1
	786,644		Securitized Asset Backed Receivables LLC Trust 2006-NC2 A3, 0.414%, 03/25/36		693,698		0.2
					1,430,402		0.5
		Total Asset-Backed Securities
		(Cost $14,674,895)			14,785,179		5.3

Shares				Value		Percentage of Net Assets
COMMON STOCK: 0.0%
			United States: 0.0%
	43,083	@,L	American Media, Inc.		21,541		0.0
	4,988	@	Resolute Forest Products		86,043		0.0
	548		Rock-Tenn Co.		35,346		0.0
		Total Common Stock
		(Cost $1,315,740)			142,930		0.0
MUTUAL FUNDS: 24.0%
			United States: 24.0%
	1,042,821		Voya Emerging Markets Corporate Debt Fund - Class P		10,261,356		3.7
	1,880,609		Voya Emerging Markets Hard Currency Debt Fund - Class P		17,809,367		6.4
	2,919,202		Voya Emerging Markets Local Currency Debt Fund - Class P		22,273,509		8.0
	2,040,782		Voya High Yield Bond Fund - Class P		16,611,963		5.9
		Total Mutual Funds
		(Cost $75,491,847)			66,956,195		24.0
WARRANTS: –%
			United States: –%
	2,406	@	Media News Group		–		–
		Total Warrants
		(Cost $–)			–		–

# of Contracts				Value		Percentage of Net Assets
PURCHASED OPTIONS: 0.6%
			Options on Currencies: 0.0%
	15,000,000	@	Put CNH vs Call USD, Strike @ 6.463, Exp. 08/03/15 Counterparty: JPMorgan Chase & Co.	$	57,714		0.0
			OTC Interest Rate Swaptions: 0.6%
	83,762,000	@	Pay a fixed rate equal to 1.667% and receive a floating rate based on the 3-month USD-LIBOR-BBA, Exp. 09/11/15 Counterparty: JPMorgan Chase & Co.		265,693		0.1
	80,180,000	@	Pay a fixed rate equal to 2.265% and receive a floating rate based on the 3-month USD-LIBOR-BBA, Exp. 04/20/15 Counterparty: Deutsche Bank AG		98,737		0.0
	73,094,000	@	Pay a fixed rate equal to 4.900% and receive a floating rate based on the 3-month USD-LIBOR-BBA, Exp. 05/29/15 Counterparty: Citigroup, Inc.		–		–
	8,379,000	@	Pay a fixed rate equal to 5.030% and receive a floating rate based on the 3-month USD-LIBOR-BBA, Exp. 05/22/15 Counterparty: Citigroup, Inc.		–		–
	83,762,000	@	Receive a fixed rate equal to 1.667% and pay a floating rate based on the 3-month USD-LIBOR-BBA, Exp. 09/11/15 Counterparty: JPMorgan Chase & Co.		991,446		0.4
	80,180,000	@	Receive a fixed rate equal to 1.865% and pay a floating rate based on the 3-month USD-LIBOR-BBA, Exp. 04/20/15 Counterparty: Deutsche Bank AG		164,786		0.1
					1,520,662		0.6
		Total Purchased Options
		(Cost $2,161,568)			1,578,376		0.6
		Total Long-Term Investments
		(Cost $283,484,888)			278,563,798		99.9

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.3%
		Securities Lending Collateralcc: 0.5%
	1,000,000	Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $1,000,006, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $1,020,000, due 08/15/17-02/15/42)	$	1,000,000		0.4
	276,625	Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $276,626, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $282,157, due 08/18/15-10/20/64)		276,625		0.1
				1,276,625		0.5

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.8%
	5,038,000		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $5,038,000)		5,038,000			1.8
		Total Short-Term Investments
		(Cost $6,314,625)			6,314,625			2.3
		Total Investments in Securities (Cost $289,799,513)		$	284,878,423			102.2
		Liabilities in Excess of Other Assets			(6,164,089	)		(2.2	)
		Net Assets		$	278,714,334			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
#	Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.
##	The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies.
@	Non-income producing security.
cc	Represents securities purchased with cash collateral received for securities on loan.
W	Settlement is on a when-issued or delayed-delivery basis.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.
±	Defaulted security
^	Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security.
Z	Indicates Zero Coupon Bond; rate shown reflects current effective yield.

BRL	Brazilian Real
EUR	EU Euro
MXN	Mexican Peso
RUB	Russian Ruble
ZAR	South African Rand

Cost for federal income tax purposes is $294,051,278.

Net unrealized depreciation consists of:

Gross Unrealized Appreciation	$	7,410,317
Gross Unrealized Depreciation		(12,874,555	)
Net Unrealized Depreciation	$	(5,464,238	)

Sector Diversification	Percentage of Net Assets
Affiliated Investment Companies		24.0	%
U.S. Government Agency Obligations		19.2
Collateralized Mortgage Obligations		12.4
Financial		8.7
U.S. Treasury Obligations		7.6
Communications		5.4
Other Asset-Backed Securities		5.3
Foreign Government Bonds		4.6
Consumer, Non-cyclical		3.6
Energy		2.1
Basic Materials		1.8
Utilities		1.7
Consumer, Cyclical		1.1
Technology		1.0
Industrial		0.7
Purchased Options		0.6
Structured Products		0.1
Materials		0.0
Consumer Discretionary		0.0
Short-Term Investments		2.3
Liabilities in Excess of Other Assets		(2.2	)
Net Assets		100.0	%

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
United States	$	121,389		$	–		$	21,541	$	142,930
Total Common Stock		121,389			–			21,541		142,930
Mutual Funds		66,956,195			–			–		66,956,195
Warrants		–			–			–		–
Purchased Options		–			1,578,376			–		1,578,376
Corporate Bonds/Notes		–			72,716,237			17,456		72,733,693
Collateralized Mortgage Obligations		–			34,573,380			–		34,573,380
Structured Products		–			–			248,537		248,537
Short-Term Investments		5,038,000			1,276,625			–		6,314,625
U.S. Government Agency Obligations		–			53,410,673			–		53,410,673
Asset-Backed Securities		–			14,785,179			–		14,785,179
U.S. Treasury Obligations		–			21,155,382			–		21,155,382
Foreign Government Bonds		–			12,979,453			–		12,979,453
Total Investments, at fair value	$	72,115,584		$	212,475,305		$	287,534	$	284,878,423
Other Financial Instruments+
Centrally Cleared Swaps		–			5,725,473			–		5,725,473
Forward Foreign Currency Contracts		–			3,624,966			–		3,624,966
Futures		1,883,049			–			–		1,883,049
Total Assets	$	73,998,633		$	221,825,744		$	287,534	$	296,111,911
Liabilities Table
Other Financial Instruments+
Centrally Cleared Swaps	$	–		$	(8,846,652	)	$	–	$	(8,846,652	)
Forward Foreign Currency Contracts		–			(8,672,504	)		–		(8,672,504	)
Futures		(375,093	)		–			–		(375,093	)
Written Options		–			(5,080,768	)		–		(5,080,768	)
Total Liabilities	$	(375,093	)	$	(22,599,924	)	$	–	$	(22,975,017	)

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Corporate Debt Fund - Class P	$	13,690,107	$	162,042	$	(3,823,917	)	$	233,124	$	10,261,356	$	162,042	$	(73,918	)	$	-
Voya Emerging Markets Hard Currency Debt Fund - Class P		32,119,888		385,809		(15,811,350	)		1,115,020		17,809,367		385,809		(1,057,350	)		-
Voya Emerging Markets Local Currency Debt Fund - Class P		31,847,994		-		(10,969,388	)		1,394,903		22,273,509		-		(2,369,388	)		-
Voya High Yield Bond Fund - Class P		16,162,281		248,568		-			201,114		16,611,963		248,547		-			-
	$	93,820,270	$	796,419	$	(30,604,655	)	$	2,944,161	$	66,956,195	$	796,398	$	(3,500,656	)	$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following forward foreign currency contracts were outstanding for Voya Global Bond Portfolio:

Counterparty	Currency	Contract Amount		Buy/Sell	Settlement Date	In Exchange For		Fair Value		Unrealized Appreciation (Depreciation)
Barclays Bank PLC	Australian Dollar		828,346	Buy	05/22/15	$	650,000	$	629,079	$	(20,921	)
Barclays Bank PLC	Hong Kong Sar Dollar		762,813	Buy	05/22/15		98,335		98,383		48
Barclays Bank PLC	Mexican Peso		56,365,328	Buy	06/19/15		3,621,706		3,675,611		53,905
BNP Paribas Bank	Australian Dollar		785	Buy	05/22/15		600		596		(4	)
BNP Paribas Bank	EU Euro		13,364,230	Buy	05/22/15		15,024,000		14,379,675		(644,325	)
BNP Paribas Bank	Norwegian Krone		16,856,434	Buy	05/22/15		2,197,000		2,089,444		(107,556	)
Citigroup, Inc.	Swedish Krona		10,027,188	Buy	05/22/15		1,181,000		1,165,208		(15,792	)
Citigroup, Inc.	Norwegian Krone		23,934,136	Buy	05/22/15		2,951,000		2,966,763		15,763
Citigroup, Inc.	Canadian Dollar		1,275,372	Buy	05/22/15		997,000		1,006,290		9,290
Citigroup, Inc.	Canadian Dollar		798,764	Buy	05/22/15		625,000		630,238		5,238
Citigroup, Inc.	Australian Dollar		2,426,730	Buy	05/22/15		1,867,000		1,842,957		(24,043	)
Citigroup, Inc.	Australian Dollar		7,713,719	Buy	05/22/15		6,057,005		5,858,109		(198,896	)
Citigroup, Inc.	Canadian Dollar		11,732,975	Buy	05/22/15		9,433,214		9,257,516		(175,698	)
Deutsche Bank AG	EU Euro		600,060	Buy	05/22/15		636,000		645,654		9,654
Deutsche Bank AG	Canadian Dollar		750,113	Buy	05/22/15		586,000		591,852		5,852
Deutsche Bank AG	Japanese Yen		168,517,771	Buy	05/22/15		1,393,000		1,406,062		13,062
Deutsche Bank AG	British Pound		9,189,445	Buy	05/22/15		14,156,000		13,626,980		(529,020	)
Goldman Sachs & Co.	EU Euro		1,348,598	Buy	05/22/15		1,469,000		1,451,068		(17,932	)

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Counterparty	Currency	Contract Amount		Buy/Sell	Settlement Date	In Exchange For		Fair Value		Unrealized Appreciation (Depreciation)
Goldman Sachs & Co.	Japanese Yen		168,179,070	Buy	05/22/15	$	1,412,000	$	1,403,236	$	(8,764	)
Goldman Sachs & Co.	EU Euro		32,831,058	Buy	05/22/15		37,289,759		35,325,638		(1,964,121	)
Goldman Sachs & Co.	Singapore Dollar		648,988	Buy	05/22/15		476,881		472,302		(4,579	)
JPMorgan Chase & Co.	EU Euro		1,021,107	Buy	05/22/15		1,105,000		1,098,693		(6,307	)
JPMorgan Chase & Co.	Australian Dollar		3,285,028	Buy	05/22/15		2,549,000		2,494,783		(54,217	)
JPMorgan Chase & Co.	Canadian Dollar		901,508	Buy	05/22/15		716,000		711,305		(4,695	)
JPMorgan Chase & Co.	EU Euro		6,367,424	Buy	05/22/15		6,926,000		6,851,235		(74,765	)
JPMorgan Chase & Co.	New Zealand Dollar		3,082,336	Buy	05/22/15		2,261,000		2,292,840		31,840
JPMorgan Chase & Co.	British Pound		1,212,000	Buy	05/22/15		1,802,000		1,797,268		(4,732	)
Morgan Stanley	Australian Dollar		6,871,029	Buy	05/22/15		5,238,000		5,218,136		(19,864	)
Morgan Stanley	Australian Dollar		2,073,407	Buy	05/22/15		1,618,000		1,574,629		(43,371	)
Morgan Stanley	Canadian Dollar		877,511	Buy	05/22/15		703,000		692,371		(10,629	)
Morgan Stanley	New Zealand Dollar		2,767,451	Buy	05/22/15		2,091,000		2,058,608		(32,392	)
Morgan Stanley	New Zealand Dollar		2,682,133	Buy	05/22/15		1,971,000		1,995,143		24,143
Morgan Stanley	New Zealand Dollar		2,164,707	Buy	05/22/15		1,626,000		1,610,248		(15,752	)
Morgan Stanley	New Zealand Dollar		1,321,926	Buy	05/22/15		987,000		983,334		(3,666	)
Morgan Stanley	EU Euro		6,372,585	Buy	05/22/15		6,926,000		6,856,789		(69,211	)
Morgan Stanley	Swedish Krona		6,637,885	Buy	05/22/15		771,000		771,355		355
Morgan Stanley	Japanese Yen		1,617,809,034	Buy	05/22/15		13,340,000		13,498,513		158,513
Morgan Stanley	New Zealand Dollar		870,545	Buy	05/22/15		639,000		647,567		8,567
Morgan Stanley	New Zealand Dollar		788,408	Buy	05/22/15		574,000		586,469		12,469
Morgan Stanley	Norwegian Krone		32,155,509	Buy	05/22/15		3,953,000		3,985,845		32,845
Morgan Stanley	South Korean Won		3,481,708,496	Buy	05/22/15		3,126,815		3,133,381		6,566
Morgan Stanley	Czech Koruna		11,239,058	Buy	06/19/15		436,177		438,964		2,787
Morgan Stanley	British Pound		749,350	Buy	05/22/15		1,129,000		1,111,207		(17,793	)
Morgan Stanley	British Pound		814,908	Buy	05/22/15		1,232,000		1,208,423		(23,577	)
Morgan Stanley	EU Euro		714,116	Buy	05/22/15		776,000		768,376		(7,624	)
Morgan Stanley	Australian Dollar		2,846,796	Buy	05/22/15		2,203,000		2,161,972		(41,028	)
Morgan Stanley	EU Euro		10,817,315	Buy	05/22/15		12,158,000		11,639,240		(518,760	)
Morgan Stanley	EU Euro		12,424,995	Buy	05/22/15		13,921,270		13,369,075		(552,195	)
Morgan Stanley	EU Euro		8,289,848	Buy	05/22/15		9,293,000		8,919,730		(373,270	)
Morgan Stanley	British Pound		9,433,341	Buy	05/22/15		14,567,000		13,988,652		(578,348	)
Morgan Stanley	British Pound		1,426,031	Buy	05/22/15		2,195,000		2,114,653		(80,347	)
Morgan Stanley	Swedish Krona		14,014,691	Buy	05/22/15		1,670,000		1,628,576		(41,424	)
Morgan Stanley	Swiss Franc		2,364,973	Buy	05/22/15		2,500,708		2,438,587		(62,121	)
Morgan Stanley	Danish Krone		6,741,468	Buy	05/22/15		1,027,694		971,951		(55,743	)
Morgan Stanley	British Pound		18,237,191	Buy	05/22/15		28,235,584		27,043,837		(1,191,747	)
Morgan Stanley	Japanese Yen		5,384,067,114	Buy	05/22/15		45,285,795		44,923,041		(362,754	)
										$	(7,567,086	)
Barclays Bank PLC	Swedish Krona		4,710,645	Sell	05/22/15	$	548,000	$	547,400	$	600
Barclays Bank PLC	Norwegian Krone		8,091,502	Sell	05/22/15		1,022,000		1,002,984		19,016
Barclays Bank PLC	British Pound		847,699	Sell	05/22/15		1,248,000		1,257,049		(9,049	)
Barclays Bank PLC	British Pound		455,156	Sell	05/22/15		685,000		674,949		10,051
Barclays Bank PLC	Japanese Yen		283,079,291	Sell	05/22/15		2,358,000		2,361,929		(3,929	)
Barclays Bank PLC	Hungarian Forint		340,159,718	Sell	06/19/15		1,184,338		1,215,293		(30,955	)
BNP Paribas Bank	EU Euro		550,830	Sell	05/22/15		578,000		592,683		(14,683	)
Citigroup, Inc.	EU Euro		44,756	Sell	05/22/15		48,597		48,157		440
Citigroup, Inc.	New Zealand Dollar		980,038	Sell	05/22/15		740,000		729,015		10,985
Citigroup, Inc.	Norwegian Krone		4,488,036	Sell	05/22/15		571,000		556,316		14,684
Citigroup, Inc.	British Pound		418,440	Sell	05/22/15		625,000		620,503		4,497
Citigroup, Inc.	Australian Dollar		1,011,610	Sell	05/22/15		769,000		768,257		743
Citigroup, Inc.	Norwegian Krone		7,845,539	Sell	05/22/15		957,000		972,496		(15,496	)
Citigroup, Inc.	EU Euro		1,142,806	Sell	05/22/15		1,211,000		1,229,640		(18,640	)
Citigroup, Inc.	New Zealand Dollar		2,227,945	Sell	05/22/15		1,655,000		1,657,289		(2,289	)
Citigroup, Inc.	Swiss Franc		711,871	Sell	05/22/15		732,000		734,030		(2,030	)
Deutsche Bank AG	EU Euro		950,058	Sell	05/22/15		1,012,000		1,022,246		(10,246	)
Deutsche Bank AG	British Pound		823,129	Sell	05/22/15		1,213,000		1,220,614		(7,614	)
Deutsche Bank AG	EU Euro		7,993,134	Sell	05/22/15		9,006,000		8,600,471		405,529
Goldman Sachs & Co.	British Pound		336,857	Sell	05/22/15		513,000		499,524		13,476
Goldman Sachs & Co.	EU Euro		12,162,806	Sell	05/22/15		13,634,000		13,086,965		547,035

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Counterparty	Currency	Contract Amount		Buy/Sell	Settlement Date	In Exchange For		Fair Value		Unrealized Appreciation (Depreciation)
Goldman Sachs & Co.	EU Euro		13,075,969	Sell	05/22/15	$	14,760,000	$	14,069,512	$	690,488
Goldman Sachs & Co.	Canadian Dollar		1,708,121	Sell	05/22/15		1,362,000		1,347,737		14,263
Goldman Sachs & Co.	Swedish Krona		3,451,321	Sell	05/22/15		413,819		401,061		12,758
Goldman Sachs & Co.	Indonesian Rupiah		28,526,241,483	Sell	05/22/15		2,156,178		2,147,826		8,352
HSBC Bank PLC	Colombian Peso		2,961,027,253	Sell	06/19/15		1,089,334		1,128,119		(38,785	)
HSBC Bank PLC	Romanian New Leu		1,620,684	Sell	06/19/15		385,611		394,267		(8,656	)
JPMorgan Chase & Co.	British Pound		2,318,501	Sell	05/22/15		3,441,000		3,438,092		2,908
JPMorgan Chase & Co.	New Zealand Dollar		2,442,243	Sell	05/22/15		1,858,000		1,816,698		41,302
JPMorgan Chase & Co.	EU Euro		595,409	Sell	05/22/15		652,000		640,650		11,350
JPMorgan Chase & Co.	EU Euro		1,528,674	Sell	05/22/15		1,622,881		1,644,826		(21,945	)
JPMorgan Chase & Co.	British Pound		533,232	Sell	05/22/15		796,000		790,726		5,274
JPMorgan Chase & Co.	Australian Dollar		7,967,111	Sell	05/22/15		6,108,000		6,050,545		57,455
JPMorgan Chase & Co.	Japanese Yen		1,655,812,743	Sell	05/22/15		13,685,000		13,815,605		(130,605	)
JPMorgan Chase & Co.	British Pound		9,159,299	Sell	05/22/15		14,091,000		13,582,277		508,723
JPMorgan Chase & Co.	EU Euro		2,021,166	Sell	05/22/15		2,265,000		2,174,739		90,261
JPMorgan Chase & Co.	Japanese Yen		131,791,557	Sell	05/22/15		1,104,000		1,099,629		4,371
JPMorgan Chase & Co.	Malaysian Ringgit		6,307,909	Sell	05/22/15		1,720,323		1,692,644		27,679
JPMorgan Chase & Co.	South African Rand		23,577,770	Sell	06/19/15		1,865,802		1,918,707		(52,905	)
JPMorgan Chase & Co.	Brazilian Real		8,211,832	Sell	06/19/15		2,476,054		2,513,644		(37,590	)
Morgan Stanley	Japanese Yen		57,407,805	Sell	05/22/15		478,000		478,993		(993	)
Morgan Stanley	Norwegian Krone		13,157,668	Sell	05/22/15		1,636,000		1,630,962		5,038
Morgan Stanley	Australian Dollar		1,655,406	Sell	05/22/15		1,293,000		1,257,182		35,818
Morgan Stanley	Japanese Yen		133,939,785	Sell	05/22/15		1,114,000		1,117,553		(3,553	)
Morgan Stanley	EU Euro		2,413,333	Sell	05/22/15		2,542,933		2,596,703		(53,770	)
Morgan Stanley	EU Euro		3,273,959	Sell	05/22/15		3,478,000		3,522,722		(44,722	)
Morgan Stanley	Thai Baht		27,099,373	Sell	05/22/15		827,967		830,976		(3,009	)
Morgan Stanley	Philippine Peso		28,280,482	Sell	05/22/15		638,098		631,637		6,461
Morgan Stanley	Russian Ruble		85,042,363	Sell	06/19/15		1,301,337		1,416,260		(114,923	)
Morgan Stanley	Polish Zloty		6,414,415	Sell	06/19/15		1,637,793		1,688,260		(50,467	)
Morgan Stanley	Turkish Lira		4,504,188	Sell	06/19/15		1,675,042		1,698,444		(23,402	)
Morgan Stanley	Chilean Peso		184,927,455	Sell	06/19/15		286,532		294,045		(7,513	)
Morgan Stanley	Peruvian Nuevo Sol		2,756,217	Sell	06/19/15		874,018		877,707		(3,689	)
Morgan Stanley	Australian Dollar		2,658,619	Sell	05/22/15		2,016,000		2,019,063		(3,063	)
Morgan Stanley	EU Euro		571,440	Sell	05/22/15		621,000		614,859		6,141
Morgan Stanley	Swedish Krona		5,803,350	Sell	05/22/15		686,000		674,378		11,622
Morgan Stanley	EU Euro		1,631,017	Sell	05/22/15		1,800,000		1,754,945		45,055
Morgan Stanley	Swedish Krona		11,331,900	Sell	05/22/15		1,359,000		1,316,822		42,178
Morgan Stanley	British Pound		7,296,289	Sell	05/22/15		11,225,000		10,819,629		405,371
Morgan Stanley	Japanese Yen		111,089,866	Sell	05/22/15		929,000		926,900		2,100
Morgan Stanley	Norwegian Krone		23,391,273	Sell	05/22/15		3,069,433		2,899,471		169,962
Morgan Stanley	New Zealand Dollar		419,102	Sell	05/22/15		313,838		311,755		2,083
										$	2,519,548

At March 31, 2015, the following futures contracts were outstanding for Voya Global Bond Portfolio:

Contract Description	Number of Contracts		Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
30-year German Government Bond		48	06/08/15	$	9,091,933	$	149,378
90-Day Eurodollar		243	12/18/17		59,580,562		171,825
90-Day Eurodollar		243	03/19/18		59,528,925		192,780
90-Day Eurodollar		243	06/18/18		59,477,287		209,993

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Contract Description	Number of Contracts		Expiration Date	Notional Value			Unrealized Appreciation/ (Depreciation)
90-Day Eurodollar		243	09/17/18	$	59,431,725		$	229,230
Australia 10-Year Bond		11	06/15/15		1,111,570			19,405
Australia 3-Year Bond		43	06/15/15		3,689,391			15,770
Canada 10-Year Bond		38	06/19/15		4,282,594			(17,048	)
Euro-Bund		6	06/08/15		1,024,236			(694	)
Euro-Schatz		113	06/08/15		13,514,145			4,929
Long Gilt		59	06/26/15		10,568,065			167,419
Long-Term Euro-BTP		72	06/08/15		10,883,379			128,019
Short Gilt		2	06/26/15		308,991			546
U.S. Treasury 10-Year Note		196	06/19/15		25,265,625			207,463
U.S. Treasury 2-Year Note		300	06/30/15		65,746,878			185,897
U.S. Treasury Long Bond		43	06/19/15		7,046,625			200,395
				$	390,551,931		$	1,865,307
Short Contracts
90-Day Eurodollar		(974)	06/15/15		(242,696,450	)		(136,360	)
Euro-Bobl 5-Year		(47)	06/08/15		(6,540,945	)		(9,804	)
Japan 10-Year Bond (TSE)		(2)	06/11/15		(2,454,996	)		(267	)
U.S. Treasury 5-Year Note		(112)	06/30/15		(13,463,625	)		(118,530	)
U.S. Treasury Ultra Long Bond		(53)	06/19/15		(9,003,375	)		(92,390	)
				$	(274,159,391	)	$	(357,351	)

At March 31, 2015, the following centrally cleared interest rate swaps were outstanding for Voya Global Bond Portfolio:

	Clearinghouse	Termination Date	Notional Amount		Fair Value			Unrealized Appreciation/ (Depreciation)
Receive a fixed rate equal to 2.960% and pay a floating rate equal to the 6-month CAD-BA-CDOR	Chicago Mercantile Exchange	11/21/44	CAD	1,000,000	$	100,747		$	107,020
Receive a fixed rate equal to 2.899% and pay a floating rate based on the 6-month GBP-LIBOR-BBA	Chicago Mercantile Exchange	08/22/44	GBP	2,000,000		666,791			693,741
Receive a fixed rate equal to 0.754% and pay a floating rate based on the 6-month JPY-LIBOR-BBA	Chicago Mercantile Exchange	05/21/24	JPY	1,855,000,000		327,840			371,283
Receive a fixed rate equal to 1.289% and pay a floating rate based on the 6-month JPY-LIBOR-BBA	Chicago Mercantile Exchange	02/04/45	JPY	1,015,000,000		(125,250	)		(132,362	)
Receive a floating rate based on the 6-month JPY-LIBOR-BBA and pay a fixed rate equal to 1.443%	Chicago Mercantile Exchange	02/24/45	JPY	468,636,765		(98,742	)		(97,943	)
Receive a floating rate based on the 6-month JPY-LIBOR-BBA and pay a fixed rate equal to 0.558%	Chicago Mercantile Exchange	02/24/45	JPY	1,084,559,370		(8,149	)		(8,368	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 0.322%	Chicago Mercantile Exchange	08/08/15	USD	40,000,000		(3,613	)		(3,613	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 0.309%	Chicago Mercantile Exchange	08/21/15	USD	10,000,000		(395	)		(395	)
Receive a fixed rate equal to 0.306% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	08/21/15	USD	50,000,000		1,392			1,392
Receive a fixed rate equal to 0.381% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	09/16/15	USD	986,000,000		129,011			129,011
Receive a fixed rate equal to 0.347% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	10/09/15	USD	40,100,000		5,368			5,368
Receive a fixed rate equal to 0.704% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	08/27/16	USD	21,000,000		30,423			30,423
Receive a fixed rate equal to 0.771% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	10/09/16	USD	87,000,000		(172,900	)		(172,900	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 1.082%	Chicago Mercantile Exchange	08/21/17	USD	15,000,000		(53,943	)		(53,943	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 1.143%	Chicago Mercantile Exchange	08/27/17	USD	40,000,000		(196,944	)		(196,944	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.273%	Chicago Mercantile Exchange	12/19/18	USD	247,721,000		(717,476	)		(717,476	)
Receive a fixed rate equal to 1.743% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	08/21/19	USD	8,100,000		109,822			109,822
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 1.7440%	Chicago Mercantile Exchange	08/21/19	USD	32,000,000		(435,925	)		(435,925	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 1.792%	Chicago Mercantile Exchange	08/27/19	USD	8,000,000		(124,819	)		(124,819	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 1.668%	Chicago Mercantile Exchange	10/30/19	USD	59,452,000		(551,020	)		(551,020	)

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

		Termination Date	Notional Amount		Fair Value			Unrealized Appreciation/ (Depreciation)
Receive a fixed rate equal to 2.000% and pay a floating rate equal to the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	11/05/19	USD	121,260,000	$	2,905,608		$	2,905,608
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.223%	Chicago Mercantile Exchange	05/15/21	USD	12,000,000		(374,454	)		(374,454	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.179%	Chicago Mercantile Exchange	07/01/21	USD	45,000,000		(1,270,000	)		(1,270,000	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.557%	Chicago Mercantile Exchange	08/21/24	USD	300,000		(14,767	)		(14,767	)
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.507%	Chicago Mercantile Exchange	10/09/24	USD	8,500,000		(379,827	)		(379,827	)
Receive a fixed rate equal to 2.408% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	10/30/24	USD	30,878,000		1,109,140			1,109,140
Receive a floating rate equal to the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.760%	Chicago Mercantile Exchange	11/05/24	USD	64,260,000		(4,311,897	)		(4,311,896	)
Receive a fixed rate equal to 2.133% and pay a floating rate based on the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	03/20/25	USD	6,000,000		56,954			56,954
Receive a fixed rate equal to 3.057% and pay a floating rate equal to the 3-month USD-LIBOR-BBA	Chicago Mercantile Exchange	10/09/44	USD	1,400,000		205,711			205,711
					$	(3,191,314	)	$	(3,121,179	)

At March 31, 2015, the following over-the-counter written options were outstanding for Voya Global Bond Portfolio:

Notional  Amount	Counterparty	Description	Exercise Price		Expiration Date	Premiums Received		Fair Value
Options on Currencies
15,000,000	JPMorgan Chase & Co.	Put CNH vs Call USD		6.690USD	08/03/15	$	124,800	$	(26,415	)
14,008,000	Bank of America	Put GBP vs. Call USD		1.470USD	04/23/15		90,114		(106,550	)
14,008,000	Bank of America	Put USD vs. Call GBP		1.525USD	04/23/15		64,675		(30,460	)
				Total Written OTC Options		$	279,589	$	(163,425	)

At March 31, 2015, the following over-the-counter written interest rate swaptions were outstanding for Voya Global Bond Portfolio:

Description	Counterparty	Floating Rate Index/Underlying Reference Entity	Pay/ Receive Floating	Exercise Rate			Expiration Date	Notional Amount		Premiums Received		Fair Value
Put OTC Swaption	BNP Paribas Bank	3-month USD-LIBOR-BBA	Pay		0.730	%	01/09/17	USD	333,012,000	$	1,443,607	$	(1,761,728	)
Put OTC Swaption	Deutsche Bank AG	3-month USD-LIBOR-BBA	Pay		2.215	%	04/20/15	USD	80,180,000		298,671		(157,566	)
Put OTC Swaption	JPMorgan Chase & Co.	3-month USD-LIBOR-BBA	Pay		1.667	%	06/11/15	USD	83,762,000		422,998		(117,158	)
Put OTC Swaption	Morgan Stanley	3-month USD-LIBOR-BBA	Pay		0.580	%	12/12/16	USD	82,945,000		241,592		(229,951	)
Call OTC Swaption	BNP Paribas Bank	3-month USD-LIBOR-BBA	Receive		0.730	%	01/09/17	USD	333,012,000		1,465,253		(1,287,150	)
Call OTC Swaption	Deutsche Bank AG	3-month USD-LIBOR-BBA	Receive		1.995	%	04/20/15	USD	80,180,000		320,720		(246,232	)
Call OTC Swaption	JPMorgan Chase & Co.	3-month USD-LIBOR-BBA	Receive		1.667	%	06/11/15	USD	83,762,000		422,998		(842,538	)
Call OTC Swaption	Morgan Stanley	3-month USD-LIBOR-BBA	Receive		0.580	%	12/12/16	USD	82,945,000		241,577		(275,020	)
							Total Written Swaptions			$	4,857,416	$	(4,917,343	)

Voya Global Bond Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of March 31, 2015 was as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Foreign exchange contracts	Purchased Options	$	57,714
Interest rate contracts	Purchased Options		1,520,662
Foreign exchange contracts	Forward foreign currency contracts		3,624,966
Interest rate contracts	Futures contracts		1,883,049
Interest rate contracts	Interest rate swaps		5,725,473
Total Asset Derivatives		$	12,811,864
Liability Derivatives	Instrument Type
Foreign exchange contracts	Forward foreign currency contracts	$	8,672,504
Interest rate contracts	Futures contracts		375,093
Interest rate contracts	Interest rate swaps		8,846,652
Foreign exchange contrats	Written options		163,425
Interest rate contracts	Written options		4,917,343
Total Liability Derivatives		$	22,975,017

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at March 31, 2015:

	Bank of America			Barclays Bank PLC		BNP Paribas Bank			Citigroup, Inc.			Deutsche Bank AG			Goldman Sachs & Co.			HSBC Bank PLC			JPMorgan Chase & Co.		Morgan Stanley			Totals
Assets:
Purchased options	$	—		$	—	$	—		$	—		$	263,523		$	—		$	—		$	1,314,853	$	—		$	1,578,376
Forward foreign currency contracts		—			83,620		—			61,640			434,097			1,286,372			—			781,163		978,074			3,624,966
Total Assets	$	—		$	83,620	$	—		$	61,640		$	697,620		$	1,286,372		$	—		$	2,096,016	$	978,074		$	5,203,342
Liabilities:
Forward foreign currency contracts	$	—		$	64,854	$	766,568		$	452,884		$	546,880		$	1,995,396		$	47,441		$	387,761	$	4,410,720		$	8,672,504
Written options		137,010			—		3,048,878			—			403,798			—			—			986,111		504,971			5,080,768
Total Liabilities	$	137,010		$	64,854	$	3,815,446		$	452,884		$	950,678		$	1,995,396		$	47,441		$	1,373,872	$	4,915,691		$	13,753,272
Net OTC derivative instruments by counterparty, at fair value	$	(137,010	)	$	18,766	$	(3,815,446	)	$	(391,244	)	$	(253,058	)	$	(709,024	)	$	(47,441	)	$	722,144	$	(3,937,617	)	$	(8,549,930	)
Total collateral pledged by the Portfolio/(Received from counterparty)	$	—		$	—	$	3,550,000		$	520,000		$	—		$	(2,130,000	)	$	—		$	—	$	3,740,000		$	5,680,000
Net Exposure(1)	$	(137,010	)	$	18,766	$	(265,446	)	$	128,756		$	(253,058	)	$	(2,839,024	)	$	(47,441	)	$	722,144	$	(197,617	)	$	(2,869,930	)

⁽¹⁾ Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio.

	PORTFOLIO OF INVESTMENTS
Voya Index Solution Income Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 13.1%
	13,514		iShares Barclays 20+ Year Treasury Bond Fund	$	1,766,145		1.0
	49,524		iShares iBoxx High Yield Corporate Bond Fund		4,487,369		2.7
	143,577		PowerShares Senior Loan Portfolio		3,458,770		2.0
	234,124		SPDR Barclays Capital High Yield Bond ETF		9,182,343		5.4
	16,425		SPDR Trust Series 1		3,390,613		2.0
		Total Exchange-Traded Funds
		(Cost $22,485,157)			22,285,240		13.1
MUTUAL FUNDS: 83.5%
			Affiliated Investment Companies: 83.5%
	152,546		Voya Emerging Markets Index Portfolio - Class I		1,662,756		1.0
	1,015,300		Voya International Index Portfolio - Class I		10,021,011		5.9
	752,906		Voya RussellTM Mid Cap Index Portfolio - Class I		13,514,669		8.0
	8,226,064		Voya U.S. Bond Index Portfolio - Class I		89,910,875		53.0
	1,784,889		Voya U.S. Stock Index Portfolio - Class I		26,434,199		15.6
		Total Mutual Funds
		(Cost $135,594,925)			141,543,510		83.5
		Total Investments in Securities (Cost $158,080,082)		$	163,828,750		96.6
		Assets in Excess of Other Liabilities			5,720,077		3.4
		Net Assets		$	169,548,827		100.0

Cost for federal income tax purposes is $159,192,716.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	6,300,988
Gross Unrealized Depreciation		(1,664,954	)
Net Unrealized Appreciation	$	4,636,034

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	22,285,240	$	–	$	–	$	22,285,240
Mutual Funds		141,543,510		–		–		141,543,510
Total Investments, at fair value	$	163,828,750	$	–	$	–	$	163,828,750

	PORTFOLIO OF INVESTMENTS
Voya Index Solution Income Portfolio	as of March 31, 2015 (Unaudited)

	Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2015
Other Financial Instruments+
Futures		34,531		–		–		34,531
Total Assets	$	163,863,281	$	–	$	–	$	163,863,281

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	1,620,242	$	85,415	$	(88,614	)	$	45,713	$	1,662,756	$	-	$	(7,625	)	$	-
Voya International Index Portfolio - Class I		9,897,061		364,976		(624,229	)		383,203		10,021,011		-		150,363			-
Voya RussellTM Mid Cap Index Portfolio - Class I		13,758,745		226,207		(558,955	)		88,672		13,514,669		-		436,325			-
Voya U.S. Bond Index Portfolio - Class I		91,093,301		2,837,214		(5,532,634	)		1,512,994		89,910,875		-		(91,724	)		-
Voya U.S. Stock Index Portfolio - Class I		27,241,973		1,307,157		(2,141,200	)		26,269		26,434,199		-		255,110			-
	$	143,611,322	$	4,820,969	$	(8,945,632	)	$	2,056,851	$	141,543,510	$	-	$	742,449		$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Index Solution Income Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	26	06/11/15	$	3,346,062	$	34,531
			$	3,346,062	$	34,531

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Index Solution Income Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type	Fair Value
Equity contracts	Futures contracts	$	34,531
Total Asset Derivatives		$	34,531

	PORTFOLIO OF INVESTMENTS
Voya Index Solution 2015 Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 13.1%
	21,002		iShares Barclays 20+ Year Treasury Bond Fund	$	,744,752		1.0
	80,120		iShares iBoxx High Yield Corporate Bond Fund		7,259,673		2.8
	223,139		PowerShares Senior Loan Portfolio		5,375,419		2.0
	356,547		SPDR Barclays Capital High Yield Bond ETF		13,983,773		5.3
	25,526		SPDR Trust Series 1		5,269,332		2.0
		Total Exchange-Traded Funds
		(Cost $34,965,968)			34,632,949		13.1
MUTUAL FUNDS: 83.6%
			Affiliated Investment Companies: 83.6%
	478,110		Voya Emerging Markets Index Portfolio - Class I		5,211,403		2.0
	2,115,375		Voya International Index Portfolio - Class I		20,878,752		7.9
	1,179,716		Voya RussellTM Mid Cap Index Portfolio - Class I		21,175,900		8.0
	156,477		Voya RussellTM Small Cap Index Portfolio - Class I		2,691,404		1.0
	11,152,250		Voya U.S. Bond Index Portfolio - Class I		121,894,093		46.1
	3,327,509		Voya U.S. Stock Index Portfolio - Class I		49,280,404		18.6
		Total Mutual Funds
		(Cost $211,542,527)			221,131,956		83.6
		Total Investments in Securities (Cost $246,508,495)		$	255,764,905		96.7
		Assets in Excess of Other Liabilities			8,742,712		3.3
		Net Assets		$	264,507,617		100.0

Cost for federal income tax purposes is $248,984,588.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	10,318,729
Gross Unrealized Depreciation		(3,538,412	)
Net Unrealized Appreciation	$	6,780,317

	PORTFOLIO OF INVESTMENTS
Voya Index Solution 2015 Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	34,632,949	$	–	$	–	$	34,632,949
Mutual Funds		221,131,956		–		–		221,131,956
Total Investments, at fair value	$	255,764,905	$	–	$	–	$	255,764,905
Other Financial Instruments+
Futures		54,857		–		–		54,857
Total Assets	$	255,819,762	$	–	$	–	$	255,819,762

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	5,061,252	$	308,244	$	(302,625	)	$	144,532	$	5,211,403	$	-	$	(23,578	)	$	-
Voya International Index Portfolio - Class I		20,588,504		890,299		(1,397,206	)		797,155		20,878,752		-		319,646			-
Voya RussellTM Mid Cap Index Portfolio - Class I		21,458,970		551,007		(1,155,932	)		321,855		21,175,900		-		502,349			-
Voya RussellTM Small Cap Index Portfolio - Class I		2,725,150		61,758		(155,897	)		60,393		2,691,404		-		51,760			-
Voya U.S. Bond Index Portfolio - Class I		123,837,065		5,875,510		(9,856,617	)		2,038,135		121,894,093		-		(73,789	)		-
Voya U.S. Stock Index Portfolio - Class I		50,776,168		2,613,607		(4,201,019	)		91,648		49,280,404		-		421,830			-
	$	224,447,109	$	10,300,425	$	(17,069,296	)	$	3,453,718	$	221,131,956	$	-	$	1,198,218		$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Index Solution 2015 Portfolio:

Contract Description	Number of Contracts		Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)		41	06/11/15	$	5,276,483	$	54,857
				$	5,276,483	$	54,857

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Index Solution 2015 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type	Fair Value
Equity contracts	Futures contracts	$	54,857
Total Asset Derivatives		$	54,857

Voya Index Solution 2020 Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 14.4%
	1		iShares Barclays 20+ Year Treasury Bond Fund	$	131		0.7
	6		iShares iBoxx High Yield Corporate Bond Fund		544		2.8
	16		PowerShares Senior Loan Portfolio		385		1.9
	25		SPDR Barclays Capital High Yield Bond ETF		980		5.0
	2		SPDR Trust Series 1		413		2.1
	7		WisdomTree Japan Hedged Equity Fund		386		1.9
		Total Exchange-Traded Funds
		(Cost $2,874)			2,839		14.4
MUTUAL FUNDS: 80.3%
			Affiliated Investment Companies: 80.3%
	34		Voya Emerging Markets Index Portfolio - Class I		372		1.9
	227		Voya International Index Portfolio - Class I		2,238		11.4
	116		Voya RussellTM Mid Cap Index Portfolio - Class I		2,075		10.5
	22		Voya RussellTM Small Cap Index Portfolio - Class I		383		2.0
	575		Voya U.S. Bond Index Portfolio - Class I		6,282		31.9
	301		Voya U.S. Stock Index Portfolio - Class I		4,456		22.6
		Total Mutual Funds
		(Cost $14,077)			15,806		80.3
		Total Investments in Securities (Cost $16,951)		$	18,645		94.7
		Assets in Excess of Other Liabilities			1,050		5.3
		Net Assets		$	19,695		100.0

Cost for federal income tax purposes is $17,010.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	1,783
Gross Unrealized Depreciation		(148	)
Net Unrealized Appreciation	$	1,635

Voya Index Solution 2020 Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	2,839	$	–	$	–	$	2,839
Mutual Funds		15,806		–		–		15,806
Total Investments, at fair value	$	18,645	$	–	$	–	$	18,645

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	338	$	27	$	(2	)	$	9	$	372	$	-	$	-		$	-
Voya International Index Portfolio - Class I		2,147		50		(53	)		94		2,238		-		23			-
Voya RussellTM Mid Cap Index Portfolio - Class I		2,051		-		(29	)		53		2,075		-		25			-
Voya RussellTM Small Cap Index Portfolio - Class I		363		12		(5	)		13		383		-		4			-
Voya U.S. Bond Index Portfolio - Class I		6,148		190		(157	)		101		6,282		-		(2	)		-
Voya U.S. Stock Index Portfolio - Class I		4,436		98		(92	)		14		4,456		-		31			-
	$	15,483	$	377	$	(338	)	$	284	$	15,806	$	-	$	81		$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Index Solution 2025 Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 12.9%
	41,695		iShares Barclays 20+ Year Treasury Bond Fund	$	5,449,119		1.0
	157,862		iShares iBoxx High Yield Corporate Bond Fund		14,303,876		2.7
	442,985		PowerShares Senior Loan Portfolio		10,671,508		2.0
	707,635		SPDR Barclays Capital High Yield Bond ETF		27,753,445		5.2
	50,676		SPDR Trust Series 1		10,461,047		2.0
		Total Exchange-Traded Funds
		(Cost $69,408,267)			68,638,995		12.9
MUTUAL FUNDS: 83.9%
			Affiliated Investment Companies: 83.9%
	1,448,386		Voya Emerging Markets Index Portfolio - Class I		15,787,412		3.0
	8,008,036		Voya International Index Portfolio - Class I		79,039,315		14.8
	4,168,751		Voya RussellTM Mid Cap Index Portfolio - Class I		74,829,085		14.1
	947,677		Voya RussellTM Small Cap Index Portfolio - Class I		16,300,046		3.1
	10,813,776		Voya U.S. Bond Index Portfolio - Class I		118,194,571		22.2
	9,587,076		Voya U.S. Stock Index Portfolio - Class I		141,984,592		26.7
		Total Mutual Funds
		(Cost $405,726,007)			446,135,021		83.9
		Total Investments in Securities (Cost $475,134,274)		$	514,774,016		96.8
		Assets in Excess of Other Liabilities			17,270,559		3.2
		Net Assets		$	532,044,575		100.0

Cost for federal income tax purposes is $478,569,691.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	41,895,777
Gross Unrealized Depreciation		(5,691,452	)
Net Unrealized Appreciation	$	36,204,325

Voya Index Solution 2025 Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	68,638,995	$	–	$	–	$	68,638,995
Mutual Funds		446,135,021		–		–		446,135,021
Total Investments, at fair value	$	514,774,016	$	–	$	–	$	514,774,016
Other Financial Instruments+
Futures		109,714		–		–		109,714
Total Assets	$	514,883,730	$	–	$	–	$	514,883,730

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	14,829,930	$	968,637	$	(345,411	)	$	334,256		$	15,787,412	$	-	$	16,497		$	-
Voya International Index Portfolio - Class I		75,382,254		2,757,433		(2,355,808	)		3,255,436			79,039,315		-		815,091			-
Voya RussellTM Mid Cap Index Portfolio - Class I		73,315,139		1,804,480		(1,772,731	)		1,482,197			74,829,085		-		1,322,452			-
Voya RussellTM Small Cap Index Portfolio - Class I		15,960,453		407,294		(507,563	)		439,862			16,300,046		-		219,975			-
Voya U.S. Bond Index Portfolio - Class I		115,918,387		7,715,157		(7,394,166	)		1,955,193			118,194,571		-		(74,320	)		-
Voya U.S. Stock Index Portfolio - Class I		141,135,730		5,852,179		(4,948,721	)		(54,596	)		141,984,592		-		1,369,467			-
	$	436,541,893	$	19,505,180	$	(17,324,400	)	$	7,412,348		$	446,135,021	$	-	$	3,669,162		$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Index Solution 2025 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	82	06/11/15	$	10,552,966	$	109,714
			$	10,552,966	$	109,714

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Index Solution 2025 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	109,714
Total Asset Derivatives		$	109,714

	PORTFOLIO OF INVESTMENTS
Voya Index Solution 2030 Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 12.0%
	2		iShares Barclays 20+ Year Treasury Bond Fund	$	261		1.2
	3		iShares iBoxx High Yield Corporate Bond Fund		272		1.3
	17		PowerShares Senior Loan Portfolio		410		1.9
	20		SPDR Barclays Capital High Yield Bond ETF		784		3.6
	2		SPDR Trust Series 1		413		1.9
	8		WisdomTree Japan Hedged Equity Fund		441		2.1
		Total Exchange-Traded Funds
		(Cost $2,596)			2,581		12.0
MUTUAL FUNDS: 83.5%
			Affiliated Investment Companies: 83.5%
	75		Voya Emerging Markets Index Portfolio - Class I		817		3.8
	415		Voya International Index Portfolio - Class I		4,100		19.1
	162		Voya RussellTM Mid Cap Index Portfolio - Class I		2,903		13.5
	37		Voya RussellTM Small Cap Index Portfolio - Class I		631		3.0
	268		Voya U.S. Bond Index Portfolio - Class I		2,929		13.7
	441		Voya U.S. Stock Index Portfolio - Class I		6,529		30.4
		Total Mutual Funds
		(Cost $15,214)			17,909		83.5
		Total Investments in Securities (Cost $17,810)		$	20,490		95.5
		Assets in Excess of Other Liabilities			975		4.5
		Net Assets		$	21,465		100.0

Cost for federal income tax purposes is $17,910.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	2,763
Gross Unrealized Depreciation		(183	)
Net Unrealized Appreciation	$	2,580

	PORTFOLIO OF INVESTMENTS
Voya Index Solution 2030 Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	2,581	$	–	$	–	$	2,581
Mutual Funds		17,909		–		–		17,909
Total Investments, at fair value	$	20,490	$	–	$	–	$	20,490

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)		Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	772	$	29	$	(3	)	$	19	$	817	$	-	$	-	$	-
Voya International Index Portfolio - Class I		3,927		41		(55	)		187		4,100		-		24		-
Voya RussellTM Mid Cap Index Portfolio - Class I		2,864		-		(39	)		78		2,903		-		32		-
Voya RussellTM Small Cap Index Portfolio - Class I		624		-		(10	)		17		631		-		7		-
Voya U.S. Bond Index Portfolio - Class I		2,882		108		(108	)		47		2,929		-		-		-
Voya U.S. Stock Index Portfolio - Class I		6,535		64		(98	)		28		6,529		-		33		-
	$	17,604	$	242	$	(313	)	$	376	$	17,909	$	-	$	96	$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

	PORTFOLIO OF INVESTMENTS
Voya Index Solution 2035 Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 10.0%
	34,923		iShares Barclays 20+ Year Treasury Bond Fund	$	4,564,087		1.0
	59,191		iShares iBoxx High Yield Corporate Bond Fund		5,363,297		1.2
	371,038		PowerShares Senior Loan Portfolio		8,938,305		2.0
	423,406		SPDR Barclays Capital High Yield Bond ETF		16,605,983		3.8
	42,445		SPDR Trust Series 1		8,761,921		2.0
		Total Exchange-Traded Funds
		(Cost $44,567,895)			44,233,593		10.0
MUTUAL FUNDS: 86.7%
			Affiliated Investment Companies: 86.7%
	1,611,173		Voya Emerging Markets Index Portfolio - Class I		17,561,790		4.0
	8,931,820		Voya International Index Portfolio - Class I		88,157,065		19.9
	3,725,601		Voya RussellTM Mid Cap Index Portfolio - Class I		66,874,537		15.1
	1,052,643		Voya RussellTM Small Cap Index Portfolio - Class I		18,105,466		4.1
	2,457,861		Voya U.S. Bond Index Portfolio - Class I		26,864,421		6.0
	11,252,972		Voya U.S. Stock Index Portfolio - Class I		166,656,516		37.6
		Total Mutual Funds
		(Cost $346,402,581)			384,219,795		86.7
		Total Investments in Securities (Cost $390,970,476)		$	428,453,388		96.7
		Assets in Excess of Other Liabilities			14,660,439		3.3
		Net Assets		$	443,113,827		100.0

Cost for federal income tax purposes is $391,962,034.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	39,073,905
Gross Unrealized Depreciation		(2,582,551	)
Net Unrealized Appreciation	$	36,491,354

	PORTFOLIO OF INVESTMENTS
Voya Index Solution 2035 Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	44,233,593	$	–	$	–	$	44,233,593
Mutual Funds		384,219,795		–		–		384,219,795
Total Investments, at fair value	$	428,453,388	$	–	$	–	$	428,453,388
Other Financial Instruments+
Futures		92,449		–		–		92,449
Total Assets	$	428,545,837	$	–	$	–	$	428,545,837

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	16,566,575	$	1,105,175	$	(527,383	)	$	417,423	$	17,561,790	$	-	$	(28,440	)	$	-
Voya International Index Portfolio - Class I		84,214,562		2,636,227		(2,339,524	)		3,645,800		88,157,065		-		865,982			-
Voya RussellTM Mid Cap Index Portfolio - Class I		65,815,463		1,523,559		(1,790,647	)		1,326,162		66,874,537		-		1,168,515			-
Voya RussellTM Small Cap Index Portfolio - Class I		17,830,097		406,282		(676,598	)		545,685		18,105,466		-		182,948			-
Voya U.S. Bond Index Portfolio - Class I		26,425,533		2,681,781		(2,549,573	)		306,680		26,864,421		-		124,326			-
Voya U.S. Stock Index Portfolio - Class I		166,379,505		5,438,512		(5,455,398	)		293,897		166,656,516		-		1,207,135			-
	$	377,231,735	$	13,791,536	$	(13,339,123	)	$	6,535,647	$	384,219,795	$	-	$	3,520,466		$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Index Solution 2035 Portfolio:

Contract Description	Number of Contracts		Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)		69	06/11/15	$	8,879,935	$	92,449
				$	8,879,935	$	92,449

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Index Solution 2035 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type	Fair Value
Equity contracts	Futures contracts	$	92,449
Total Asset Derivatives		$	92,449

Voya Index Solution 2040 Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 7.7%
	2		iShares Barclays 20+ Year Treasury Bond Fund	$	261		1.1
	19		PowerShares Senior Loan Portfolio		458		1.9
	6		SPDR Barclays Capital High Yield Bond ETF		235		1.0
	2		SPDR Trust Series 1		413		1.7
	9		WisdomTree Japan Hedged Equity Fund		496		2.0
		Total Exchange-Traded Funds
		(Cost $1,865)			1,863		7.7
MUTUAL FUNDS: 88.3%
			Affiliated Investment Companies: 88.3%
	106		Voya Emerging Markets Index Portfolio - Class I		1,160		4.8
	494		Voya International Index Portfolio - Class I		4,879		20.3
	210		Voya RussellTM Mid Cap Index Portfolio - Class I		3,770		15.7
	56		Voya RussellTM Small Cap Index Portfolio - Class I		957		4.0
	88		Voya U.S. Bond Index Portfolio - Class I		965		4.0
	643		Voya U.S. Stock Index Portfolio - Class I		9,520		39.5
		Total Mutual Funds
		(Cost $17,602)			21,251		88.3
		Total Investments in Securities (Cost $19,467)		$	23,114		96.0
		Assets in Excess of Other Liabilities			970		4.0
		Net Assets		$	24,084		100.0

Cost for federal income tax purposes is $19,487.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	3,734
Gross Unrealized Depreciation		(107	)
Net Unrealized Appreciation	$	3,627

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	1,863	$	–	$	–	$	1,863

Voya Index Solution 2040 Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2015
Mutual Funds	$	21,251	$	–	$	–	$	21,251
Total Investments, at fair value	$	23,114	$	–	$	–	$	23,114

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)		Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	1,097	$	43	$	(5	)	$	25	$	1,160	$	-	$	-	$	-
Voya International Index Portfolio - Class I		4,603		88		(41	)		229		4,879		-		18		-
Voya RussellTM Mid Cap Index Portfolio - Class I		3,675		46		(49	)		98		3,770		-		39		-
Voya RussellTM Small Cap Index Portfolio - Class I		939		11		(18	)		25		957		-		12		-
Voya U.S. Bond Index Portfolio - Class I		919		86		(53	)		13		965		-		2		-
Voya U.S. Stock Index Portfolio - Class I		9,346		213		(93	)		54		9,520		-		30		-
	$	20,579	$	487	$	(259	)	$	444	$	21,251	$	-	$	101	$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Index Solution 2045 Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 5.1%
	21,990		iShares Barclays 20+ Year Treasury Bond Fund	$	2,873,873		1.1
	233,632		PowerShares Senior Loan Portfolio		5,628,195		2.0
	26,727		SPDR Trust Series 1		5,517,255		2.0
		Total Exchange-Traded Funds
		(Cost $13,788,908)			14,019,323		5.1
MUTUAL FUNDS: 92.8%
			Affiliated Investment Companies: 92.8%
	1,766,217		Voya Emerging Markets Index Portfolio - Class I		19,251,762		7.0
	6,155,019		Voya International Index Portfolio - Class I		60,750,036		21.9
	2,645,234		Voya RussellTM Mid Cap Index Portfolio - Class I		47,481,945		17.1
	659,485		Voya RussellTM Small Cap Index Portfolio - Class I		11,343,136		4.1
	509,502		Voya U.S. Bond Index Portfolio - Class I		5,568,862		2.0
	7,602,468		Voya U.S. Stock Index Portfolio - Class I		112,592,544		40.7
		Total Mutual Funds
		(Cost $232,946,538)			256,988,285		92.8
		Total Investments in Securities (Cost $246,735,446)		$	271,007,608		97.9
		Assets in Excess of Other Liabilities			5,860,571		2.1
		Net Assets		$	276,868,179		100.0

Cost for federal income tax purposes is $247,425,862.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	25,070,465
Gross Unrealized Depreciation		(1,488,719	)
Net Unrealized Appreciation	$	23,581,746

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	14,019,323	$	–	$	–	$	14,019,323
Mutual Funds		256,988,285		–		–		256,988,285
Total Investments, at fair value	$	271,007,608	$	–	$	–	$	271,007,608
Other Financial Instruments+
Futures		57,542		–		–		57,542

Voya Index Solution 2045 Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2015
Total Assets	$	271,065,150	$	–	$	–	$	271,065,150

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	18,041,836	$	1,386,539	$	(616,912	)	$	440,299	$	19,251,762	$	-	$	(21,458	)	$	-
Voya International Index Portfolio - Class I		57,645,216		2,206,563		(1,679,269	)		2,577,526		60,750,036		-		507,656			-
Voya RussellTM Mid Cap Index Portfolio - Class I		46,417,767		1,451,107		(1,285,703	)		898,774		47,481,945		-		860,355			-
Voya RussellTM Small Cap Index Portfolio - Class I		11,095,631		341,437		(417,758	)		323,826		11,343,136		-		131,509			-
Voya U.S. Bond Index Portfolio - Class I		8,241,369		584,364		(3,312,717	)		55,846		5,568,862		-		60,864			-
Voya U.S. Stock Index Portfolio - Class I		111,704,109		4,486,092		(3,815,327	)		217,670		112,592,544		-		777,646			-
	$	253,145,928	$	10,456,102	$	(11,127,686	)	$	4,513,941	$	256,988,285	$	-	$	2,316,572		$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Index Solution 2045 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	43	06/11/15	$	5,533,873	$	57,542
			$	5,533,873	$	57,542

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Index Solution 2045 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	57,542
Total Asset Derivatives		$	57,542

Voya Index Solution 2050 Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 6.8%
	2		iShares Barclays 20+ Year Treasury Bond Fund	$	261		1.1
	19		PowerShares Senior Loan Portfolio		458		2.0
	2		SPDR Trust Series 1		413		1.8
	8		WisdomTree Japan Hedged Equity Fund		441		1.9
		Total Exchange-Traded Funds
		(Cost $1,561)			1,573		6.8
MUTUAL FUNDS: 90.1%
			Affiliated Investment Companies: 90.1%
	142		Voya Emerging Markets Index Portfolio - Class I		1,551		6.7
	496		Voya International Index Portfolio - Class I		4,894		21.3
	213		Voya RussellTM Mid Cap Index Portfolio - Class I		3,825		16.6
	53		Voya RussellTM Small Cap Index Portfolio - Class I		914		4.0
	42		Voya U.S. Bond Index Portfolio - Class I		454		2.0
	613		Voya U.S. Stock Index Portfolio - Class I		9,079		39.5
		Total Mutual Funds
		(Cost $16,984)			20,717		90.1
		Total Investments in Securities (Cost $18,545)		$	22,290		96.9
		Assets in Excess of Other Liabilities			703		3.1
		Net Assets		$	22,993		100.0

Cost for federal income tax purposes is $18,552.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	3,827
Gross Unrealized Depreciation		(89	)
Net Unrealized Appreciation	$	3,738

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	1,573	$	–	$	–	$	1,573

Voya Index Solution 2050 Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2015
Mutual Funds	$	20,717	$	–	$	–	$	20,717
Total Investments, at fair value	$	22,290	$	–	$	–	$	22,290

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)		Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	1,468	$	55	$	(6	)	$	34	$	1,551	$	-	$	-	$	-
Voya International Index Portfolio - Class I		4,660		27		(29	)		236		4,894		-		12		-
Voya RussellTM Mid Cap Index Portfolio - Class I		3,762		-		(44	)		107		3,825		-		35		-
Voya RussellTM Small Cap Index Portfolio - Class I		902		-		(15	)		27		914		-		10		-
Voya U.S. Bond Index Portfolio - Class I		666		22		(239	)		5		454		-		4		-
Voya U.S. Stock Index Portfolio - Class I		9,031		49		(62	)		61		9,079		-		20		-
	$	20,489	$	153	$	(395	)	$	470	$	20,717	$	-	$	81	$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Index Solution 2055 Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 3.0%
	5,165		iShares Barclays 20+ Year Treasury Bond Fund	$	675,014		1.0
	6,277		SPDR Trust Series 1		1,295,761		2.0
		Total Exchange-Traded Funds
		(Cost $1,887,184)			1,970,775		3.0
MUTUAL FUNDS: 94.8%
			Affiliated Investment Companies: 94.8%
	423,112		Voya Emerging Markets Index Portfolio - Class I		4,611,924		7.0
	1,473,883		Voya International Index Portfolio - Class I		14,547,229		21.9
	633,485		Voya RussellTM Mid Cap Index Portfolio - Class I		11,371,061		17.1
	157,925		Voya RussellTM Small Cap Index Portfolio - Class I		2,716,304		4.1
	124,205		Voya U.S. Bond Index Portfolio - Class I		1,357,557		2.0
	1,913,112		Voya U.S. Stock Index Portfolio - Class I		28,333,185		42.7
		Total Mutual Funds
		(Cost $59,027,937)			62,937,260		94.8
		Total Investments in Securities (Cost $60,915,121)		$	64,908,035		97.8
		Assets in Excess of Other Liabilities			1,432,873		2.2
		Net Assets		$	66,340,908		100.0

Cost for federal income tax purposes is $61,021,029.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	4,116,416
Gross Unrealized Depreciation		(229,410	)
Net Unrealized Appreciation	$	3,887,006

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	1,970,775	$	–	$	–	$	1,970,775
Mutual Funds		62,937,260		–		–		62,937,260
Total Investments, at fair value	$	64,908,035	$	–	$	–	$	64,908,035
Other Financial Instruments+
Futures		13,426		–		–		13,426
Total Assets	$	64,921,461	$	–	$	–	$	64,921,461

Voya Index Solution 2055 Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	4,150,660	$	579,084	$	(229,713	)	$	111,893	$	4,611,924	$	-	$	(15,560	)	$	-
Voya International Index Portfolio - Class I		13,254,966		1,321,922		(577,879	)		548,220		14,547,229		-		164,304			-
Voya RussellTM Mid Cap Index Portfolio - Class I		10,669,525		976,150		(457,294	)		182,680		11,371,061		-		228,282			-
Voya RussellTM Small Cap Index Portfolio - Class I		2,550,214		229,682		(128,653	)		65,061		2,716,304		-		42,773			-
Voya U.S. Bond Index Portfolio - Class I		1,893,699		217,457		(766,613	)		13,014		1,357,557		-		14,177			-
Voya U.S. Stock Index Portfolio - Class I		26,975,612		2,761,458		(1,486,877	)		82,992		28,333,185		-		154,973			-
	$	59,494,676	$	6,085,753	$	(3,647,029	)	$	1,003,860	$	62,937,260	$	-	$	588,949		$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Index Solution 2055 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	10	06/11/15	$	1,286,947	$	13,426
			$	1,286,947	$	13,426

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Index Solution 2055 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	13,426
Total Asset Derivatives		$	13,426

	PORTFOLIO OF INVESTMENTS
Voya Index Solution 2060 Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 5.3%
	1		iShares Barclays 20+ Year Treasury Bond Fund	$	130		0.8
	2		SPDR Trust Series 1		413		2.5
	6		WisdomTree Japan Hedged Equity Fund		331		2.0
		Total Exchange-Traded Funds
		(Cost $848)			874		5.3
MUTUAL FUNDS: 94.6%
			Affiliated Investment Companies: 94.6%
	104		Voya Emerging Markets Index Portfolio - Class I		1,137		6.9
	363		Voya International Index Portfolio - Class I		3,587		21.9
	156		Voya RussellTM Mid Cap Index Portfolio - Class I		2,803		17.1
	39		Voya RussellTM Small Cap Index Portfolio - Class I		669		4.1
	30		Voya U.S. Bond Index Portfolio - Class I		333		2.0
	471		Voya U.S. Stock Index Portfolio - Class I		6,977		42.6
		Total Mutual Funds
		(Cost $15,182)			15,506		94.6
		Total Investments in Securities (Cost $16,030)		$	16,380		99.9
		Assets in Excess of Other Liabilities			13		0.1
		Net Assets		$	16,393		100.0

Cost for federal income tax purposes is the same as for financial statement purposes.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	354
Gross Unrealized Depreciation		(4	)
Net Unrealized Appreciation	$	350

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	874	$	–	$	–	$	874
Mutual Funds		15,506		–		–		15,506
Total Investments, at fair value	$	16,380	$	–	$	–	$	16,380

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)		Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)		Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	-	$	1,134	$	-		$	3	$	1,137	$	-	$	-	$	-
Voya International Index Portfolio - Class I		-		3,520		(42	)		109		3,587		-		2		-
Voya RussellTM Mid Cap Index Portfolio - Class I		-		2,720		(3	)		86		2,803		-		-		-
Voya RussellTM Small Cap Index Portfolio - Class I		-		640		(3	)		32		669		-		-		-
Voya U.S. Bond Index Portfolio - Class I		-		370		(39	)		2		333		-		-		-
Voya U.S. Stock Index Portfolio - Class I		-		6,960		(75	)		92		6,977		-		2		-
	$	-	$	15,344	$	(162	)	$	324	$	15,506	$	-	$	4	$	-

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

	PORTFOLIO OF INVESTMENTS
Voya Solution Aggressive Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value			Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 8.1%
	1,758		iShares Russell 1000 Value Index Fund	$	181,215			4.2
	389		SPDR Trust Series 1		80,301			1.9
	1,522		WisdomTree Japan Hedged Equity Fund		83,893			2.0
		Total Exchange-Traded Funds
		(Cost $331,200)			345,409			8.1
MUTUAL FUNDS: 91.9%
			Affiliated Investment Companies: 91.9%
	7,788		Voya Emerging Markets Index Portfolio - Class I		84,889			2.0
	33,370		Voya International Core Fund - Class I		322,358			7.5
	8,625		Voya International Index Portfolio - Class I		85,128			2.0
	15,266		Voya Large Cap Growth Portfolio - Class I		319,060			7.5
	25,652		Voya Large Cap Value Fund - Class R6		327,834			7.7
	10,873		Voya MidCap Opportunities Portfolio - Class I		173,641			4.1
	24,106		Voya Multi-Manager Emerging Markets Equity Fund - Class I		251,422			5.9
	36,419		Voya Multi-Manager International Equity Fund - Class I		406,072			9.4
	21,487		Voya Multi-Manager Large Cap Core Portfolio - Class I		337,998			7.9
	30,026		Voya Multi-Manager Mid Cap Value Fund - Class I		390,934			9.1
	7,505		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		215,472			5.0
	7,202		Voya Small Company Portfolio - Class I		174,514			4.1
	20,572		Voya U.S. Stock Index Portfolio - Class I		304,664			7.1
	2,399		VY® Clarion Real Estate Portfolio - Class I		88,229			2.1
	7,734		VY® Invesco Comstock Portfolio - Class I		127,848			3.0
	3,350	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		320,012			7.5
		Total Mutual Funds
		(Cost $3,931,400)			3,930,075			91.9
		Total Investments in Securities (Cost $4,262,600)		$	4,275,484			100.0
		Liabilities in Excess of Other Assets			(245	)		–
		Net Assets		$	4,275,239			100.0

@ Non-income producing security.

Cost for federal income tax purposes is $4,296,371.

Net unrealized depreciation consists of:

Gross Unrealized Appreciation	$	122,820
Gross Unrealized Depreciation		(143,707	)
Net Unrealized Depreciation	$	(20,887	)

	PORTFOLIO OF INVESTMENTS
Voya Solution Aggressive Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	345,409	$	–	$	–	$	345,409
Mutual Funds		3,930,075		–		–		3,930,075
Total Investments, at fair value	$	4,275,484	$	–	$	–	$	4,275,484

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	70,566	$	16,667	$	(4,368	)	$	2,024		$	84,889	$	-	$	(327	)	$	-
Voya International Core Fund - Class I		271,737		54,278		(20,789	)		17,132			322,358		-		(3,159	)		-
Voya International Index Portfolio - Class I		71,613		13,746		(4,346	)		4,115			85,128		-		(80	)		-
Voya Large Cap Growth Portfolio - Class I		277,320		51,291		(19,440	)		9,889			319,060		-		2,335			-
Voya Large Cap Value Fund - Class R6		288,310		93,864		(44,613	)		(9,727	)		327,834		521		(1,012	)		11,276
Voya MidCap Opportunities Portfolio - Class I		149,439		27,355		(12,160	)		9,007			173,641		-		(689	)		-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		209,270		56,513		(12,762	)		(1,599	)		251,422		-		(639	)		-
Voya Multi-Manager International Equity Fund - Class I		340,375		66,615		(23,044	)		22,126			406,072		-		(1,493	)		-
Voya Multi-Manager Large Cap Core Portfolio - Class I		299,936		55,312		(17,786	)		536			337,998		-		1,462			-
Voya Multi-Manager Mid Cap Value Fund - Class I		333,961		61,550		(23,161	)		18,584			390,934		-		(4,417	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		185,888		34,194		(12,694	)		8,084			215,472		-		2,191			-
Voya Small Company Portfolio - Class I		150,688		27,355		(10,477	)		6,948			174,514		-		(156	)		-
Voya U.S. Stock Index Portfolio - Class I		268,895		75,227		(40,176	)		718			304,664		-		1,275			-
VY® Clarion Real Estate Portfolio - Class I		77,170		22,049		(10,867	)		(123	)		88,229		-		3,849			-
VY® Invesco Comstock Portfolio - Class I		110,975		23,826		(6,358	)		(595	)		127,848		-		700			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		276,458		51,292		(22,628	)		14,890			320,012		-		2,497			-
	$	3,382,601	$	731,134	$	(285,669	)	$	102,009		$	3,930,075	$	521	$	2,337		$	11,276

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Solution Balanced Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 2.9%
	4,145		iShares Barclays 20+ Year Treasury Bond Fund	$	541,710		1.0
	5,038		SPDR Trust Series 1		1,039,994		1.9
		Total Exchange-Traded Funds
		(Cost $1,512,002)			1,581,704		2.9
MUTUAL FUNDS: 94.1%
			Affiliated Investment Companies: 94.1%
	96,613		Voya Emerging Markets Index Portfolio - Class I		1,053,083		2.0
	267,499		Voya Floating Rate Fund - Class I		2,704,411		5.1
	259,157		Voya Global Bond Fund - Class R6		2,653,770		5.0
	328,674		Voya High Yield Bond Fund - Class I		2,675,409		5.0
	237,893		Voya Intermediate Bond Fund - Class R6		2,431,270		4.6
	165,808		Voya International Core Fund - Class I		1,601,706		3.0
	160,681		Voya International Index Portfolio - Class I		1,585,923		3.0
	126,366		Voya Large Cap Growth Portfolio - Class I		2,641,057		4.9
	247,670		Voya Large Cap Value Fund - Class R6		3,165,225		5.9
	109,716		Voya MidCap Opportunities Portfolio - Class I		1,752,166		3.3
	99,666		Voya Multi-Manager Emerging Markets Equity Fund - Class I		1,039,521		1.9
	142,840		Voya Multi-Manager International Equity Fund - Class I		1,592,664		3.0
	200,022		Voya Multi-Manager Large Cap Core Portfolio - Class I		3,146,343		5.9
	248,576		Voya Multi-Manager Mid Cap Value Fund - Class I		3,236,461		6.1
	51,257		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		1,471,576		2.8
	107,865		Voya Short Term Bond Fund - Class R6		1,076,493		2.0
	44,728		Voya Small Company Portfolio - Class I		1,083,753		2.0
	49,344		Voya U.S. Bond Index Portfolio - Class I		539,327		1.0
	107,543		Voya U.S. Stock Index Portfolio - Class I		1,592,712		3.0
	111,919		VY® BlackRock Inflation Protected Bond Portfolio - Class I		1,074,419		2.0
	29,838		VY® Clarion Real Estate Portfolio - Class I		1,097,129		2.1
	133,474	@	VY® Goldman Sachs Bond Portfolio - Class I		1,344,087		2.5
	96,011		VY® Invesco Comstock Portfolio - Class I		1,587,059		3.0
	180,007		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		5,353,400		10.0
	27,730	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		2,649,336		5.0
		Total Mutual Funds
		(Cost $47,691,018)			50,148,300		94.1
		Total Investments in Securities (Cost $49,203,020)		$	51,730,004		97.0
		Assets in Excess of Other Liabilities			1,572,683		3.0
		Net Assets		$	53,302,687		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $49,534,605.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	3,075,226
Gross Unrealized Depreciation		(879,827	)
Net Unrealized Appreciation	$	2,195,399

Voya Solution Balanced Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	1,581,704	$	–	$	–	$	1,581,704
Mutual Funds		50,148,300		–		–		50,148,300
Total Investments, at fair value	$	51,730,004	$	–	$	–	$	51,730,004
Other Financial Instruments+
Futures		11,895		–		–		11,895
Total Assets	$	51,741,899	$	–	$	–	$	51,741,899

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	990,459	$	65,182	$	(28,455	)	$	25,897		$	1,053,083	$	-	$	(2,250	)	$	-
Voya Floating Rate Fund - Class I		2,613,239		129,771		(67,433	)		28,834			2,704,411		25,037		(117	)		-
Voya Global Bond Fund - Class R6		2,592,404		177,807		(69,729	)		(46,712	)		2,653,770		28,451		(4,215	)		-
Voya High Yield Bond Fund - Class I		3,104,619		168,188		(665,938	)		68,540			2,675,409		42,107		(28,714	)		-
Voya Intermediate Bond Fund - Class R6		1,848,477		652,875		(97,716	)		27,634			2,431,270		14,363		786			-
Voya International Core Fund - Class I		1,529,318		38,573		(37,102	)		70,917			1,601,706		-		3,817			-
Voya International Index Portfolio - Class I		1,510,736		54,816		(56,577	)		76,948			1,585,923		-		4,711			-
Voya Large Cap Growth Portfolio - Class I		2,603,140		58,461		(94,675	)		74,131			2,641,057		-		36,641			-
Voya Large Cap Value Fund - Class R6		3,137,403		225,824		(90,846	)		(107,156	)		3,165,225		5,324		6,398			115,155
Voya MidCap Opportunities Portfolio - Class I		1,709,949		35,014		(67,925	)		75,128			1,752,166		-		13,696			-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		978,763		95,303		(26,074	)		(8,471	)		1,039,521		-		132			-
Voya Multi-Manager International Equity Fund - Class I		1,511,523		60,474		(62,867	)		83,534			1,592,664		-		3,777			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		3,169,348		100,890		(125,036	)		1,141			3,146,343		-		21,882			-
Voya Multi-Manager Mid Cap Value Fund - Class I		3,133,669		96,750		(119,423	)		125,465			3,236,461		-		(1,594	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		1,439,526		29,627		(61,495	)		63,918			1,471,576		-		10,995			-
Voya Short Term Bond Fund - Class R6		1,050,880		58,120		(35,770	)		3,263			1,076,493		5,231		(105	)		-
Voya Small Company Portfolio - Class I		1,061,344		21,547		(34,374	)		35,236			1,083,753		-		8,893			-
Voya U.S. Bond Index Portfolio - Class I		2,375,676		110,483		(1,939,459	)		(7,373	)		539,327		-		25,046			-
Voya U.S. Stock Index Portfolio - Class I		1,567,935		110,693		(99,869	)		13,953			1,592,712		-		1,542			-
VY® BlackRock Inflation Protected Bond Portfolio - Class I		1,040,399		73,239		(52,238	)		13,019			1,074,419		9,345		(6,307	)		-
VY® Clarion Real Estate Portfolio - Class I		1,089,539		120,697		(117,556	)		4,449			1,097,129		-		49,646			-
VY® Goldman Sachs Bond Portfolio Class I		-		1,346,536		(11,757	)		9,308			1,344,087		-		61			-
VY® Invesco Comstock Portfolio - Class I		1,562,088		94,971		(64,479	)		(5,521	)		1,587,059		-		7,227			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		5,249,773		107,735		(142,441	)		138,333			5,353,400		-		31,040			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		2,594,070		62,600		(111,025	)		103,691			2,649,336		-		51,383			-
	$	49,464,277	$	4,096,176	$	(4,280,259	)	$	868,106		$	50,148,300	$	129,858	$	234,371		$	115,155

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution Balanced Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	9	06/11/15	$	1,158,252	$	11,895
			$	1,158,252	$	11,895

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution Balanced Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	11,895
Total Asset Derivatives		$	11,895

Voya Solution Conservative Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 2.0%
	1,393		iShares Barclays 20+ Year Treasury Bond Fund	$	182,051		1.0
	846		SPDR Trust Series 1		174,640		1.0
		Total Exchange-Traded Funds
		(Cost $345,323)			356,691		2.0
MUTUAL FUNDS: 94.9%
			Affiliated Investment Companies: 94.9%
	126,035		Voya Floating Rate Fund - Class I		1,274,216		7.0
	209,296		Voya Global Bond Fund - Class R6		2,143,191		11.9
	199,450		Voya High Yield Bond Fund - Class I		1,623,526		9.0
	151,212		Voya Intermediate Bond Fund - Class R6		1,545,385		8.6
	54,046		Voya International Index Portfolio - Class I		533,432		2.9
	12,851		Voya Large Cap Growth Portfolio - Class I		268,583		1.5
	41,827		Voya Large Cap Value Fund - Class R6		534,552		3.0
	39,748		Voya MidCap Opportunities Portfolio - Class I		634,778		3.5
	48,783		Voya Multi-Manager Mid Cap Value Fund - Class I		635,156		3.5
	145,198		Voya Short Term Bond Fund - Class R6		1,449,077		8.0
	124,556		Voya U.S. Bond Index Portfolio - Class I		1,361,393		7.5
	169,475		VY® BlackRock Inflation Protected Bond Portfolio - Class I		1,626,963		9.0
	143,723	@	VY® Goldman Sachs Bond Portfolio - Class I		1,447,287		8.0
	60,559		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		1,801,035		10.0
	2,798	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		267,295		1.5
		Total Mutual Funds
		(Cost $17,131,158)			17,145,869		94.9
		Total Investments in Securities (Cost $17,476,481)		$	17,502,560		96.9
		Assets in Excess of Other Liabilities			554,149		3.1
		Net Assets		$	18,056,709		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $17,631,539.

Net unrealized depreciation consists of:

Gross Unrealized Appreciation	$	322,552
Gross Unrealized Depreciation		(451,531	)
Net Unrealized Depreciation	$	(128,979	)

Voya Solution Conservative Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	356,691	$	–	$	–	$	356,691
Mutual Funds		17,145,869		–		–		17,145,869
Total Investments, at fair value	$	17,502,560	$	–	$	–	$	17,502,560
Other Financial Instruments+
Futures		3,840		–		–		3,840
Total Assets	$	17,506,400	$	–	$	–	$	17,506,400

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Floating Rate Fund - Class I	$	1,239,823	$	73,383	$	(52,018	)	$	13,028		$	1,274,216	$	11,891	$	731		$	-
Voya Global Bond Fund - Class R6		2,108,839		166,175		(96,953	)		(34,870	)		2,143,191		23,158		(6,525	)		-
Voya High Yield Bond Fund - Class I		1,757,391		122,639		(292,449	)		35,945			1,623,526		24,064		(12,384	)		-
Voya Intermediate Bond Fund - Class R6		1,163,478		440,415		(75,889	)		17,381			1,545,385		9,115		549			-
Voya International Index Portfolio - Class I		511,860		33,730		(39,243	)		27,085			533,432		-		596			-
Voya Large Cap Growth Portfolio - Class I		265,344		24,236		(27,127	)		6,130			268,583		-		4,967			-
Voya Large Cap Value Fund - Class R6		532,164		64,089		(42,084	)		(19,617	)		534,552		897		2,696			19,411
Voya MidCap Opportunities Portfolio - Class I		623,820		27,068		(38,424	)		22,314			634,778		-		10,157			-
Voya Multi-Manager Mid Cap Value Fund - Class I		619,328		36,818		(47,461	)		26,471			635,156		-		(1,898	)		-
Voya Short Term Bond Fund - Class R6		1,424,594		81,569		(61,562	)		4,476			1,449,077		7,098		(184	)		-
Voya U.S. Bond Index Portfolio - Class I		3,131,187		140,650		(1,933,679	)		23,235			1,361,393		-		7,009			-
VY® BlackRock Inflation Protected Bond Portfolio - Class I		1,586,972		114,986		(97,321	)		22,326			1,626,963		14,239		(12,333	)		-
VY®  Goldman Sachs Bond Portfolio  Class I		-		1,464,403		(26,955	)		9,839			1,447,287		-		176			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		1,778,512		76,393		(102,994	)		49,124			1,801,035		-		8,387			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		263,628		13,980		(18,505	)		8,192			267,295		-		7,580			-
	$	17,006,940	$	2,880,534	$	(2,952,664	)	$	211,059		$	17,145,869	$	90,462	$	9,524		$	19,411

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution Conservative Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	3	06/11/15	$	386,084	$	3,840
			$	386,084	$	3,840

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution Conservative Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	3,840
Total Asset Derivatives		$	3,840

Voya Solution Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 3.0%
	13,054		iShares Barclays 20+ Year Treasury Bond Fund	$	1,706,027		1.0
	15,866		SPDR Trust Series 1		3,275,219		2.0
		Total Exchange-Traded Funds
		(Cost $4,762,581)			4,981,246		3.0
MUTUAL FUNDS: 93.8%
			Affiliated Investment Companies: 93.8%
	828,056		Voya Floating Rate Fund - Class I		8,371,644		5.0
	962,313		Voya Global Bond Fund - Class R6		9,854,086		5.9
	604,406		Voya High Yield Bond Fund - Class I		4,919,866		3.0
	1,636,869		Voya Intermediate Bond Fund - Class R6		16,728,806		10.1
	497,175		Voya International Index Portfolio - Class I		4,907,114		3.0
	232,935		Voya Large Cap Growth Portfolio - Class I		4,868,347		2.9
	444,256		Voya Large Cap Value Fund - Class R6		5,677,588		3.4
	313,414		Voya MidCap Opportunities Portfolio - Class I		5,005,224		3.0
	294,661		Voya Multi-Manager International Equity Fund - Class I		3,285,466		2.0
	438,370		Voya Multi-Manager Large Cap Core Portfolio - Class I		6,895,561		4.2
	384,597		Voya Multi-Manager Mid Cap Value Fund - Class I		5,007,452		3.0
	1,335,493		Voya Short Term Bond Fund - Class R6		13,328,216		8.0
	1,374,730		Voya U.S. Bond Index Portfolio - Class I		15,025,794		9.0
	1,558,719		VY® BlackRock Inflation Protected Bond Portfolio - Class I		14,963,699		9.0
	92,353		VY® Clarion Real Estate Portfolio - Class I		3,395,812		2.0
	1,611,038	@	VY® Goldman Sachs Bond Portfolio - Class I		16,223,158		9.8
	445,647		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		13,253,527		8.0
	42,898	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		4,098,501		2.5
		Total Mutual Funds
		(Cost $152,732,860)			155,809,861		93.8
		Total Investments in Securities (Cost $157,495,441)		$	160,791,107		96.8
		Assets in Excess of Other Liabilities			5,319,057		3.2
		Net Assets		$	166,110,164		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $158,607,730.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	5,799,661
Gross Unrealized Depreciation		(3,616,284	)
Net Unrealized Appreciation	$	2,183,377

Voya Solution Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	4,981,246	$	–	$	–	$	4,981,246
Mutual Funds		155,809,861		–		–		155,809,861
Total Investments, at fair value	$	160,791,107	$	–	$	–	$	160,791,107
Other Financial Instruments+
Futures		34,531		–		–		34,531
Total Assets	$	160,825,638	$	–	$	–	$	160,825,638

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Floating Rate Fund - Class I	$	8,405,003	$	338,450	$	(471,475	)	$	99,666		$	8,371,644	$	79,534	$	(7,960	)	$	-
Voya Global Bond Fund - Class R6		10,005,050		599,451		(584,544	)		(165,871	)		9,854,086		109,295		(28,327	)		-
Voya High Yield Bond Fund - Class I		6,638,416		377,031		(2,240,428	)		144,847			4,919,866		87,872		(60,575	)		-
Voya Intermediate Bond Fund - Class R6		16,988,417		706,059		(1,169,296	)		203,626			16,728,806		116,306		14,732			-
Voya International Index Portfolio - Class I		4,857,208		221,974		(383,161	)		211,093			4,907,114		-		53,804			-
Voya Large Cap Growth Portfolio - Class I		4,983,918		280,159		(461,373	)		65,643			4,868,347		-		151,001			-
Voya Large Cap Value Fund - Class R6		5,846,561		590,203		(550,166	)		(209,010	)		5,677,588		9,684		32,983			209,473
Voya MidCap Opportunities Portfolio - Class I		5,077,224		117,781		(387,567	)		197,786			5,005,224		-		65,790			-
Voya Multi-Manager International Equity Fund - Class I		3,239,895		159,919		(319,556	)		205,208			3,285,466		-		(16,841	)		-
Voya Multi-Manager Large Cap Core Portfolio - Class I		7,221,013		289,572		(573,842	)		(41,182	)		6,895,561		-		100,342			-
Voya Multi-Manager Mid Cap Value Fund - Class I		5,039,270		198,531		(426,000	)		195,651			5,007,452		-		3,321			-
Voya Short Term Bond Fund - Class R6		13,520,585		509,177		(744,225	)		42,679			13,328,216		66,518		(2,602	)		-
Voya U.S. Bond Index Portfolio - Class I		31,839,986		1,153,522		(18,336,288	)		368,574			15,025,794		-		(44,148	)		-
VY® BlackRock Inflation Protected Bond Portfolio - Class I		15,057,129		762,972		(1,105,851	)		249,449			14,963,699		133,879		(153,866	)		-
VY® Clarion Real Estate Portfolio - Class I		3,505,431		321,649		(438,836	)		7,568			3,395,812		-		164,101			-
VY®  Goldman Sachs Bond Portfolio  Class I		-		16,457,767		(347,127	)		112,518			16,223,158		-		1,300			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		13,508,310		309,730		(928,451	)		363,938			13,253,527		-		73,852			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		4,171,518		136,503		(327,448	)		117,928			4,098,501		-		132,972			-
	$	159,904,934	$	23,530,450	$	(29,795,634	)	$	2,170,111		$	155,809,861	$	603,088	$	479,879		$	209,473

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution Income Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	26	06/11/15	$	3,346,062	$	34,531
			$	3,346,062	$	34,531

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution Income Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	34,531
Total Asset Derivatives		$	34,531

Voya Solution Moderately Aggressive Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 5.9%
	2,630		iShares Barclays 20+ Year Treasury Bond Fund	$	343,714		1.0
	9,623		iShares Russell 1000 Value Index Fund		991,939		2.9
	3,197		SPDR Trust Series 1		659,957		2.0
		Total Exchange-Traded Funds (Cost $1,868,178)			1,995,610		5.9
MUTUAL FUNDS: 91.0%
			Affiliated Investment Companies: 91.0%
	61,099		Voya Emerging Markets Index Portfolio - Class I		665,983		2.0
	101,514		Voya Floating Rate Fund - Class I		1,026,307		3.0
	65,561		Voya Global Bond Fund - Class R6		671,345		2.0
	124,295		Voya High Yield Bond Fund - Class I		1,011,760		3.0
	192,245		Voya International Core Fund - Class I		1,857,082		5.5
	101,617		Voya International Index Portfolio - Class I		1,002,962		3.0
	95,907		Voya Large Cap Growth Portfolio - Class I		2,004,466		5.9
	130,800		Voya Large Cap Value Fund - Class R6		1,671,622		5.0
	80,063		Voya MidCap Opportunities Portfolio - Class I		1,278,611		3.8
	126,062		Voya Multi-Manager Emerging Markets Equity Fund - Class I		1,314,823		3.9
	225,839		Voya Multi-Manager International Equity Fund - Class I		2,518,107		7.5
	179,223		Voya Multi-Manager Large Cap Core Portfolio - Class I		2,819,174		8.4
	216,162		Voya Multi-Manager Mid Cap Value Fund - Class I		2,814,425		8.4
	53,046		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		1,522,957		4.5
	42,431		Voya Small Company Portfolio - Class I		1,028,112		3.0
	78,950		Voya U.S. Stock Index Portfolio - Class I		1,169,243		3.5
	18,868		VY® Clarion Real Estate Portfolio - Class I		693,763		2.1
	60,725		VY® Invesco Comstock Portfolio - Class I		1,003,790		3.0
	85,389		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		2,539,477		7.5
	21,049	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		2,011,004		6.0
		Total Mutual Funds (Cost $29,110,388)			30,625,013		91.0
		Total Investments in Securities (Cost $30,978,566)		$	32,620,623		96.9
		Assets in Excess of Other Liabilities			1,060,216		3.1
		Net Assets		$	33,680,839		100.0

@	Non-income producing security.
	Cost for federal income tax purposes is $31,142,061.
	Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	2,042,849
Gross Unrealized Depreciation		(564,287	)
Net Unrealized Appreciation	$	1,478,562

Voya Solution Moderately Aggressive Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	1,995,610	$	–	$	–	$	1,995,610
Mutual Funds		30,625,013		–		–		30,625,013
Total Investments, at fair value	$	32,620,623	$	–	$	–	$	32,620,623
Other Financial Instruments+
Futures		8,055		–		–		8,055
Total Assets	$	32,628,678	$	–	$	–	$	32,628,678

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.  

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	613,979	$	51,746	$	(15,620	)	$	15,878		$	665,983	$	-	$	(1,212	)	$	-
Voya Floating Rate Fund - Class I		973,576		68,832		(27,076	)		10,975			1,026,307		9,436		(125	)		-
Voya Global Bond Fund - Class R6		643,873		54,714		(15,028	)		(12,214	)		671,345		7,136		(622	)		-
Voya High Yield Bond Fund - Class I		1,608,616		123,760		(763,693	)		43,077			1,011,760		17,623		(29,438	)		-
Voya International Core Fund - Class I		1,740,018		71,651		(39,066	)		84,479			1,857,082		-		1,328			-
Voya International Index Portfolio - Class I		937,283		44,697		(29,609	)		50,591			1,002,962		-		464			-
Voya Large Cap Growth Portfolio - Class I		1,938,889		69,526		(62,843	)		58,894			2,004,466		-		24,339			-
Voya Large Cap Value Fund - Class R6		1,601,294		187,755		(63,590	)		(53,837	)		1,671,622		2,825		723			61,106
Voya MidCap Opportunities Portfolio - Class I		1,224,966		43,454		(45,541	)		55,732			1,278,611		-		8,686			-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		1,213,144		141,398		(28,780	)		(10,939	)		1,314,823		-		34			-
Voya Multi-Manager International Equity Fund - Class I		2,344,334		120,638		(75,389	)		128,524			2,518,107		-		8,264			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		2,787,685		117,398		(89,640	)		3,731			2,819,174		-		15,175			-
Voya Multi-Manager Mid Cap Value Fund - Class I		2,674,553		110,855		(76,249	)		105,266			2,814,425		-		1,770			-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		1,462,299		52,144		(58,201	)		66,715			1,522,957		-		10,261			-
Voya Small Company Portfolio - Class I		988,576		34,763		(31,184	)		35,957			1,028,112		-		5,741			-
Voya U.S. Stock Index Portfolio - Class I		1,113,525		116,321		(70,027	)		9,424			1,169,243		-		2,565			-
VY® Clarion Real Estate Portfolio - Class I		676,956		89,027		(75,134	)		2,914			693,763		-		30,539			-
VY® Invesco Comstock Portfolio - Class I		969,552		80,458		(42,375	)		(3,845	)		1,003,790		-		4,236			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		2,444,693		121,300		(89,941	)		63,425			2,539,477		-		15,669			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		1,931,738		69,526		(72,248	)		81,988			2,011,004		-		33,759			-
	$	29,889,549	$	1,769,963	$	(1,771,234	)	$	736,735		$	30,625,013	$	37,020	$	132,156		$	61,106

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution Moderately Aggressive Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	6	06/11/15	$	772,168	$	8,055
			$	772,168	$	8,055

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Moderately Aggressive Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	8,055
Total Asset Derivatives		$	8,055

Voya Solution Moderately Conservative Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 3.0%
	3,572		iShares Barclays 20+ Year Treasury Bond Fund	$	466,825		1.0
	4,341		SPDR Trust Series 1		896,113		2.0
		Total Exchange-Traded Funds (Cost $1,303,238)			1,362,938		3.0
MUTUAL FUNDS: 93.9%
			Affiliated Investment Companies: 93.9%
	81,973		Voya Emerging Markets Index Portfolio - Class I		893,504		2.0
	227,138		Voya Floating Rate Fund - Class I		2,296,365		5.0
	219,976		Voya Global Bond Fund - Class R6		2,252,554		4.9
	277,902		Voya High Yield Bond Fund - Class I		2,262,122		5.0
	381,631		Voya Intermediate Bond Fund - Class R6		3,900,271		8.6
	93,826		Voya International Core Fund - Class I		906,362		2.0
	136,376		Voya International Index Portfolio - Class I		1,346,031		3.0
	53,625		Voya Large Cap Growth Portfolio - Class I		1,120,771		2.5
	140,131		Voya Large Cap Value Fund - Class R6		1,790,875		3.9
	78,801		Voya MidCap Opportunities Portfolio - Class I		1,258,452		2.8
	80,826		Voya Multi-Manager International Equity Fund - Class I		901,209		2.0
	41,965		Voya Multi-Manager Large Cap Core Portfolio - Class I		660,103		1.4
	184,617		Voya Multi-Manager Mid Cap Value Fund - Class I		2,403,711		5.3
	39,549		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		1,135,448		2.5
	228,957		Voya Short Term Bond Fund - Class R6		2,284,990		5.0
	37,966		Voya Small Company Portfolio - Class I		919,907		2.0
	314,235		Voya U.S. Bond Index Portfolio - Class I		3,434,591		7.5
	29,646		Voya U.S. Stock Index Portfolio - Class I		439,062		1.0
	237,523		VY® BlackRock Inflation Protected Bond Portfolio - Class I		2,280,218		5.0
	25,329		VY® Clarion Real Estate Portfolio - Class I		931,355		2.0
	362,598	@	VY® Goldman Sachs Bond Portfolio - Class I		3,651,359		8.0
	152,803		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		4,544,350		10.0
	11,767	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		1,124,211		2.5
		Total Mutual Funds (Cost $41,692,821)			42,737,821		93.9
		Total Investments in Securities (Cost $42,996,059)		$	44,100,759		96.9
		Assets in Excess of Other Liabilities			1,390,238		3.1
		Net Assets		$	45,490,997		100.0

@	Non-income producing security.
	Cost for federal income tax purposes is $43,315,493.
	Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	1,643,201
Gross Unrealized Depreciation		(857,935	)
Net Unrealized Appreciation	$	785,266

Voya Solution Moderately Conservative Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	1,362,938	$	–	$	–	$	1,362,938
Mutual Funds		42,737,821		–		–		42,737,821
Total Investments, at fair value	$	44,100,759	$	–	$	–	$	44,100,759
Other Financial Instruments+
Futures		9,210		–		–		9,210
Total Assets	$	44,109,969	$	–	$	–	$	44,109,969

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at  12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	850,238	$	60,331	$	(40,695	)	$	23,630		$	893,504	$	-	$	(3,461	)	$	-
Voya Floating Rate Fund - Class I		2,245,771		118,719		(91,937	)		23,812			2,296,365		21,544		1,145			-
Voya Global Bond Fund - Class R6		2,228,129		161,620		(95,499	)		(41,696	)		2,252,554		24,580		(2,418	)		-
Voya High Yield Bond Fund - Class I		2,665,179		165,840		(624,748	)		55,851			2,262,122		36,198		(21,021	)		-
Voya Intermediate Bond Fund - Class R6		3,859,131		245,722		(251,154	)		46,572			3,900,271		26,716		3,186			-
Voya International Core Fund - Class I		875,804		37,301		(49,361	)		42,618			906,362		-		523			-
Voya International Index Portfolio - Class I		1,297,538		70,123		(89,978	)		68,348			1,346,031		-		2,536			-
Voya Large Cap Growth Portfolio - Class I		1,117,967		44,232		(67,225	)		25,797			1,120,771		-		22,520			-
Voya Large Cap Value Fund - Class R6		1,796,615		160,057		(106,934	)		(58,863	)		1,790,875		3,058		1,755			66,149
Voya MidCap Opportunities Portfolio - Class I		1,242,951		39,282		(70,457	)		46,676			1,258,452		-		18,537			-
Voya Multi-Manager International Equity Fund - Class I		865,463		49,987		(58,406	)		44,165			901,209		-		6,378			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		666,906		75,149		(74,245	)		(7,707	)		660,103		-		13,738			-
Voya Multi-Manager Mid Cap Value Fund - Class I		2,355,197		112,638		(155,164	)		91,040			2,403,711		-		3,138			-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		1,124,125		41,455		(75,796	)		45,664			1,135,448		-		13,553			-
Voya Short Term Bond Fund - Class R6		2,258,329		113,288		(93,693	)		7,066			2,284,990		11,258		(329	)		-
Voya Small Company Portfolio - Class I		911,814		32,002		(51,795	)		27,886			919,907		-		10,442			-
Voya U.S. Bond Index Portfolio - Class I		7,034,655		385,654		(3,960,456	)		(25,262	)		3,434,591		-		96,887			-
Voya U.S. Stock Index Portfolio - Class I		446,564		55,112		(66,404	)		3,790			439,062		-		1,051			-
VY® BlackRock Inflation Protected Bond Portfolio - Class I		2,235,897		146,231		(132,307	)		30,397			2,280,218		20,216		(16,797	)		-
VY® Clarion Real Estate Portfolio - Class I		936,305		99,585		(105,793	)		1,258			931,355		-		43,997			-
VY® Goldman Sachs Bond Portfolio  Class I		-		3,693,259		(67,148	)		25,248			3,651,359		-		183			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		4,510,492		140,198		(234,747	)		128,407			4,544,350		-		18,636			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		1,114,007		46,022		(73,263	)		37,445			1,124,211		-		29,927			-
	$	42,639,077	$	6,093,807	$	(6,637,205	)	$	642,142		$	42,737,821	$	143,570	$	244,106		$	66,149

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution Moderately Conservative Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	7	06/11/15	$	900,863	$	9,210
			$	900,863	$	9,210

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Moderately Conservative Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	9,210
Total Asset Derivatives		$	9,210

Voya Solution 2015 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 3.0%
	43,074		iShares Barclays 20+ Year Treasury Bond Fund	$	5,629,341		1.0
	52,371		SPDR Trust Series 1		10,810,946		2.0
		Total Exchange-Traded Funds
		(Cost $15,713,872)			16,440,287		3.0
MUTUAL FUNDS: 93.8%
			Affiliated Investment Companies: 93.8%
	2,709,846		Voya Floating Rate Fund - Class I		27,396,543		5.0
	3,148,667		Voya Global Bond Fund - Class R6		32,242,354		5.9
	1,968,928		Voya High Yield Bond Fund - Class I		16,027,077		3.0
	5,087,758		Voya Intermediate Bond Fund - Class R6		51,996,892		9.6
	1,678,815		Voya International Core Fund - Class I		16,217,353		3.0
	542,228		Voya International Index Portfolio - Class I		5,351,795		1.0
	767,599		Voya Large Cap Growth Portfolio - Class I		16,042,827		3.0
	1,462,482		Voya Large Cap Value Fund - Class R6		18,690,523		3.4
	1,196,411		Voya MidCap Opportunities Portfolio - Class I		19,106,688		3.5
	1,928,214		Voya Multi-Manager International Equity Fund - Class I		21,499,590		4.0
	1,417,310		Voya Multi-Manager Large Cap Core Portfolio - Class I		22,294,289		4.1
	1,468,176		Voya Multi-Manager Mid Cap Value Fund - Class I		19,115,647		3.5
	4,370,292		Voya Short Term Bond Fund - Class R6		43,615,514		8.0
	2,499,115		Voya U.S. Bond Index Portfolio - Class I		27,315,330		5.0
	1,050,957		Voya U.S. Stock Index Portfolio - Class I		15,564,673		2.9
	4,533,706		VY® BlackRock Inflation Protected Bond Portfolio - Class I		43,523,575		8.0
	302,204		VY® Clarion Real Estate Portfolio - Class I		11,112,055		2.1
	4,487,784	@	VY® Goldman Sachs Bond Portfolio - Class I		45,191,982		8.3
	1,458,234		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		43,367,890		8.0
	140,362	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		13,410,194		2.5
		Total Mutual Funds
		(Cost $497,494,431)			509,082,791		93.8
		Total Investments in Securities (Cost $513,208,303)		$	525,523,078		96.8
		Assets in Excess of Other Liabilities			17,509,340		3.2
		Net Assets		$	543,032,418		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $516,720,179.  

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	20,897,108
Gross Unrealized Depreciation		(12,094,209	)
Net Unrealized Appreciation	$	8,802,899

Voya Solution 2015 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	16,440,287	$	–	$	–	$	16,440,287
Mutual Funds		509,082,791		–		–		509,082,791
Total Investments, at fair value	$	525,523,078	$	–	$	–	$	525,523,078
Other Financial Instruments+
Futures		112,024		–		–		112,024
Total Assets	$	525,635,102	$	–	$	–	$	525,635,102

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Floating Rate Fund - Class I	$	28,415,939	$	753,975	$	(2,120,227	)	$	346,856		$	27,396,543	$	262,838	$	(45,585	)	$	-
Voya Global Bond Fund - Class R6		33,821,728		1,558,597		(2,641,976	)		(495,995	)		32,242,354		363,162		(152,404	)		-
Voya High Yield Bond Fund - Class I		22,330,877		1,078,601		(7,882,625	)		500,224			16,027,077		289,534		(225,364	)		-
Voya Intermediate Bond Fund - Class R6		48,832,064		7,045,597		(4,489,028	)		608,259			51,996,892		342,802		54,524			-
Voya International Core Fund - Class I		16,616,977		311,287		(1,338,537	)		627,626			16,217,353		-		158,843			-
Voya International Index Portfolio - Class I		5,469,666		165,136		(600,135	)		317,128			5,351,795		-		(29,039	)		-
Voya Large Cap Growth Portfolio - Class I		16,979,898		253,322		(1,432,227	)		241,834			16,042,827		-		465,252			-
Voya Large Cap Value Fund - Class R6		19,897,301		1,236,156		(1,746,059	)		(696,875	)		18,690,523		32,146		96,558			695,360
Voya MidCap Opportunities Portfolio - Class I		20,024,784		142,775		(1,774,351	)		713,480			19,106,688		-		287,528			-
Voya Multi-Manager International Equity Fund - Class I		21,890,296		738,277		(1,967,981	)		838,998			21,499,590		-		391,344			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		24,125,840		567,463		(2,206,044	)		(192,970	)		22,294,289		-		372,424			-
Voya Multi-Manager Mid Cap Value Fund - Class I		19,871,360		461,816		(1,922,345	)		704,816			19,115,647		-		47,415			-
Voya Short Term Bond Fund - Class R6		45,717,544		1,125,806		(3,372,638	)		144,802			43,615,514		219,946		(12,013	)		-
Voya U.S. Bond Index Portfolio - Class I		82,118,392		2,181,880		(57,140,929	)		155,987			27,315,330		-		567,509			-
Voya U.S. Stock Index Portfolio - Class I		16,348,504		1,982,736		(3,109,837	)		343,270			15,564,673		-		(144,379	)		-
VY® BlackRock Inflation Protected Bond Portfolio - Class I		45,250,727		1,765,123		(4,395,584	)		903,309			43,523,575		392,177		(612,990	)		-
VY® Clarion Real Estate Portfolio - Class I		11,859,838		943,444		(1,654,955	)		(36,272	)		11,112,055		-		616,700			-
VY® Goldman Sachs Bond Portfolio - Class I		-		46,073,725		(1,195,090	)		313,347			45,191,982		-		3,744			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		45,668,004		303,267		(3,753,935	)		1,150,554			43,367,890		-		280,803			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		14,098,920		236,039		(1,250,190	)		325,425			13,410,194		-		494,829			-
	$	539,338,659	$	68,925,022	$	(105,994,693	)	$	6,813,803		$	509,082,791	$	1,902,605	$	2,615,699		$	695,360

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution 2015 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	84	06/11/15	$	10,810,356	$	112,024
			$	10,810,356	$	112,024

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution 2015 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	112,024
Total Asset Derivatives		$	112,024

Voya Solution 2020 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 4.0%
	51		iShares Barclays 20+ Year Treasury Bond Fund	$	6,665		1.0
	31		SPDR Trust Series 1		6,399		1.0
	242		WisdomTree Japan Hedged Equity Fund		13,339		2.0
		Total Exchange-Traded Funds
		(Cost $26,207)			26,403		4.0
MUTUAL FUNDS: 94.7%
			Affiliated Investment Companies: 94.7%
	3,294		Voya Floating Rate Fund - Class I		33,299		5.0
	3,829		Voya Global Bond Fund - Class R6		39,211		5.9
	2,444		Voya High Yield Bond Fund - Class I		19,896		3.0
	3,580		Voya Intermediate Bond Fund - Class R6		36,589		5.5
	2,381		Voya International Core Fund - Class I		23,005		3.5
	1,978		Voya International Index Portfolio - Class I		19,524		3.0
	1,715		Voya Large Cap Growth Portfolio - Class I		35,854		5.4
	1,786		Voya Large Cap Value Fund - Class R6		22,822		3.5
	1,247		Voya MidCap Opportunities Portfolio - Class I		19,911		3.0
	2,638		Voya Multi-Manager International Equity Fund - Class I		29,411		4.5
	2,052		Voya Multi-Manager Large Cap Core Portfolio - Class I		32,281		4.9
	2,550		Voya Multi-Manager Mid Cap Value Fund - Class I		33,203		5.0
	459		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		13,175		2.0
	3,984		Voya Short Term Bond Fund - Class R6		39,764		6.0
	826		Voya Small Company Portfolio - Class I		20,012		3.0
	1,519		Voya U.S. Bond Index Portfolio - Class I		16,603		2.5
	4,823		VY® BlackRock Inflation Protected Bond Portfolio - Class I		46,300		7.0
	367		VY® Clarion Real Estate Portfolio - Class I		13,504		2.0
	2,629	@	VY® Goldman Sachs Bond Portfolio - Class I		26,478		4.0
	1,182		VY® Invesco Comstock Portfolio - Class I		19,540		3.0
	2,216		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		65,909		10.0
	205	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		19,568		3.0
		Total Mutual Funds
		(Cost $622,934)			625,859		94.7
		Total Investments in Securities (Cost $649,141)		$	652,262		98.7
		Assets in Excess of Other Liabilities			8,858		1.3
		Net Assets		$	661,120		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $650,475.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	15,914
Gross Unrealized Depreciation		(14,127	)
Net Unrealized Appreciation	$	1,787

Voya Solution 2020 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	26,403	$	–	$	–	$	26,403
Mutual Funds		625,859		–		–		625,859
Total Investments, at fair value	$	652,262	$	–	$	–	$	652,262

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Floating Rate Fund - Class I	$	32,382	$	2,001	$	(1,464	)	$	380		$	33,299	$	309	$	(28	)	$	-
Voya Global Bond Fund - Class R6		38,552		3,123		(1,786	)		(678	)		39,211		419		(65	)		-
Voya High Yield Bond Fund - Class I		25,793		1,781		(8,387	)		709			19,896		343		(389	)		-
Voya Intermediate Bond Fund - Class R6		29,447		8,692		(1,952	)		402			36,589		222		36			-
Voya International Core Fund - Class I		22,113		980		(1,365	)		1,277			23,005		-		(195	)		-
Voya International Index Portfolio - Class I		18,725		1,040		(1,307	)		1,066			19,524		-		(57	)		-
Voya Large Cap Growth Portfolio - Class I		35,565		2,021		(3,007	)		1,275			35,854		-		202			-
Voya Large Cap Value Fund - Class R6		22,757		2,595		(1,808	)		(722	)		22,822		38		(6	)		825
Voya MidCap Opportunities Portfolio - Class I		19,563		731		(1,436	)		1,053			19,911		-		(52	)		-
Voya Multi-Manager International Equity Fund - Class I		28,103		1,664		(2,123	)		1,767			29,411		-		(148	)		-
Voya Multi-Manager Large Cap Core Portfolio - Class I		32,728		1,661		(2,229	)		121			32,281		-		97			-
Voya Multi-Manager Mid Cap Value Fund - Class I		32,371		1,604		(2,290	)		1,518			33,203		-		(258	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		12,976		504		(852	)		547			13,175		-		119			-
Voya Short Term Bond Fund - Class R6		39,064		2,564		(1,994	)		130			39,764		193		(12	)		-
Voya Small Company Portfolio - Class I		19,731		734		(1,138	)		685			20,012		-		122			-
Voya U.S. Bond Index Portfolio - Class I		49,059		2,924		(35,372	)		(8	)		16,603		-		443			-
VY® BlackRock Inflation Protected Bond Portfolio - Class I		45,126		3,633		(2,868	)		409			46,300		400		(101	)		-
VY® Clarion Real Estate Portfolio - Class I		13,494		1,622		(1,927	)		315			13,504		-		365			-
VY®  Goldman Sachs Bond Portfolio - Class I		-		26,311		(17	)		184			26,478		-		-			-
VY® Invesco Comstock Portfolio - Class I		19,362		1,543		(1,319	)		(46	)		19,540		-		55			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		65,055		2,438		(3,701	)		2,117			65,909		-		(51	)		-
VY® T. Rowe Price Growth Equity Portfolio - Class I		19,292		831		(1,549	)		994			19,568		-		143			-
	$	621,258	$	70,997	$	(79,891	)	$	13,495		$	625,859	$	1,924	$	220		$	825

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Solution 2025 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 3.1%
	179,796		iShares Barclays 20+ Year Treasury Bond Fund	$	23,497,539		2.1
	54,712		SPDR Trust Series 1		11,294,198		1.0
		Total Exchange-Traded Funds
		(Cost $33,312,758)			34,791,737		3.1
MUTUAL FUNDS: 93.7%
			Affiliated Investment Companies: 93.7%
	2,058,069		Voya Emerging Markets Index Portfolio - Class I		22,432,947		2.0
	5,702,554		Voya Floating Rate Fund - Class I		57,652,819		5.1
	6,627,050		Voya Global Bond Fund - Class R6		67,860,988		6.0
	4,164,343		Voya High Yield Bond Fund - Class I		33,897,748		3.0
	5,069,886		Voya Intermediate Bond Fund - Class R6		51,814,230		4.5
	5,299,823		Voya International Core Fund - Class I		51,196,286		4.5
	4,564,797		Voya International Index Portfolio - Class I		45,054,545		3.9
	3,222,563		Voya Large Cap Growth Portfolio - Class I		67,351,561		5.9
	3,943,512		Voya Large Cap Value Fund - Class R6		50,398,082		4.4
	2,158,310		Voya MidCap Opportunities Portfolio - Class I		34,468,212		3.0
	1,061,514		Voya Multi-Manager Emerging Markets Equity Fund - Class I		11,071,592		1.0
	5,580,024		Voya Multi-Manager International Equity Fund - Class I		62,217,264		5.5
	4,262,044		Voya Multi-Manager Large Cap Core Portfolio - Class I		67,041,957		5.9
	5,297,232		Voya Multi-Manager Mid Cap Value Fund - Class I		68,969,958		6.0
	1,191,571		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		34,210,010		3.0
	5,735,810		Voya Short Term Bond Fund - Class R6		57,243,385		5.0
	1,429,811		Voya Small Company Portfolio - Class I		34,644,314		3.0
	1,577,738		Voya U.S. Bond Index Portfolio - Class I		17,244,671		1.5
	635,871		VY® Clarion Real Estate Portfolio - Class I		23,380,981		2.0
	2,275,909	@	VY® Goldman Sachs Bond Portfolio - Class I		22,918,400		2.0
	2,045,977		VY® Invesco Comstock Portfolio - Class I		33,819,999		3.0
	3,836,383		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		114,094,044		10.0
	413,628	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		39,518,059		3.5
		Total Mutual Funds
		(Cost $1,008,850,906)			1,068,502,052		93.7
		Total Investments in Securities (Cost $1,042,163,664)		$	1,103,293,789		96.8
		Assets in Excess of Other Liabilities			36,764,152		3.2
		Net Assets		$	1,140,057,941		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $1,046,675,397.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	71,664,344
Gross Unrealized Depreciation		(15,045,952	)
Net Unrealized Appreciation	$	56,618,392

Voya Solution 2025 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	34,791,737	$	–	$	–	$	34,791,737
Mutual Funds		1,068,502,052		–		–		1,068,502,052
Total Investments, at fair value	$	1,103,293,789	$	–	$	–	$	1,103,293,789
Other Financial Instruments+
Futures		233,634		–		–		233,634
Total Assets	$	1,103,527,423	$	–	$	–	$	1,103,527,423

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	21,915,882	$	1,119,009	$	(1,214,727	)	$	612,783		$	22,432,947	$	-	$	(98,607	)	$	-
Voya Floating Rate Fund - Class I		57,969,673		1,862,918		(2,854,863	)		675,091			57,652,819		544,012		(52,105	)		-
Voya Global Bond Fund - Class R6		68,991,426		3,562,291		(3,401,014	)		(1,291,715	)		67,860,988		747,734		(52,655	)		-
Voya High Yield Bond Fund - Class I		45,422,442		2,379,709		(14,849,201	)		944,798			33,897,748		599,225		(383,834	)		-
Voya Intermediate Bond Fund - Class R6		35,164,284		18,956,793		(2,870,710	)		563,863			51,814,230		288,785		23,939			-
Voya International Core Fund - Class I		50,831,723		617,878		(2,583,375	)		2,330,060			51,196,286		-		92,883			-
Voya International Index Portfolio - Class I		44,610,862		1,056,036		(2,781,978	)		2,169,625			45,054,545		-		189,920			-
Voya Large Cap Growth Portfolio - Class I		68,471,758		1,816,788		(4,257,203	)		1,320,218			67,351,561		-		1,578,911			-
Voya Large Cap Value Fund - Class R6		51,385,914		4,174,758		(3,509,888	)		(1,652,702	)		50,398,082		86,420		45,291			1,869,360
Voya MidCap Opportunities Portfolio - Class I		35,016,338		199,999		(2,175,074	)		1,426,949			34,468,212		-		344,412			-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		10,823,904		895,184		(567,098	)		(80,398	)		11,071,592		-		(9,039	)		-
Voya Multi-Manager International Equity Fund - Class I		61,372,711		1,672,875		(3,556,056	)		2,727,734			62,217,264		-		743,717			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		70,317,236		1,207,037		(4,261,190	)		(221,126	)		67,041,957		-		720,097			-
Voya Multi-Manager Mid Cap Value Fund - Class I		69,491,025		1,165,628		(4,598,305	)		2,911,610			68,969,958		-		(249,127	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		34,830,387		203,285		(2,216,082	)		1,392,420			34,210,010		-		377,029			-
Voya Short Term Bond Fund - Class R6		57,777,383		2,645,169		(3,360,557	)		181,390			57,243,385		283,061		(12,198	)		-
Voya Small Company Portfolio - Class I		35,328,434		199,999		(1,762,267	)		878,148			34,644,314		-		539,184			-
Voya U.S. Bond Index Portfolio - Class I		58,583,753		2,262,254		(42,927,440	)		(673,896	)		17,244,671		-		1,161,026			-
VY® Clarion Real Estate Portfolio - Class I		24,205,245		2,247,050		(3,099,635	)		28,321			23,380,981		-		1,158,160			-
VY® Goldman Sachs Bond Portfolio  Class I		-		23,175,348		(415,733	)		158,785			22,918,400		-		1,400			-
VY® Invesco Comstock Portfolio - Class I		34,635,481		1,608,109		(2,214,004	)		(209,587	)		33,819,999		-		238,926			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		116,458,700		666,664		(5,074,201	)		2,042,881			114,094,044		-		1,633,627			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		40,262,234		410,824		(2,413,619	)		1,258,620			39,518,059		-		1,103,295			-
	$	1,093,866,795	$	74,105,605	$	(116,964,220	)	$	17,493,872		$	1,068,502,052	$	2,549,237	$	9,094,252		$	1,869,360

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution 2025 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	175	06/11/15	$	22,521,574	$	233,634
			$	22,521,574	$	233,634

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution 2025 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	233,634
Total Asset Derivatives		$	233,634

Voya Solution 2030 Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 7.6%
	58		iShares Barclays 20+ Year Treasury Bond Fund	$	7,580		2.4
	70		iShares Russell 1000 Value Index Fund		7,215		2.2
	23		SPDR Trust Series 1		4,748		1.5
	89		WisdomTree Japan Hedged Equity Fund		4,906		1.5
			Total Exchange-Traded Funds (Cost $23,590)		24,449		7.6
MUTUAL FUNDS: 91.0%
			Affiliated Investment Companies: 91.0%
	584		Voya Emerging Markets Index Portfolio - Class I		6,363		2.0
	1,600		Voya Floating Rate Fund - Class I		16,179		5.0
	1,433		Voya High Yield Bond Fund - Class I		11,669		3.6
	950		Voya Intermediate Bond Fund - Class R6		9,710		3.0
	1,654		Voya International Core Fund - Class I		15,978		5.0
	1,286		Voya International Index Portfolio - Class I		12,691		3.9
	1,117		Voya Large Cap Growth Portfolio - Class I		23,340		7.3
	1,363		Voya Large Cap Value Fund - Class R6		17,418		5.4
	606		Voya MidCap Opportunities Portfolio - Class I		9,674		3.0
	604		Voya Multi-Manager Emerging Markets Equity Fund - Class I		6,298		2.0
	1,714		Voya Multi-Manager International Equity Fund - Class I		19,106		5.9
	1,483		Voya Multi-Manager Large Cap Core Portfolio - Class I		23,332		7.2
	1,489		Voya Multi-Manager Mid Cap Value Fund - Class I		19,384		6.0
	335		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		9,622		3.0
	1,409		Voya Short Term Bond Fund - Class R6		14,066		4.4
	402		Voya Small Company Portfolio - Class I		9,731		3.0
	126		Voya U.S. Stock Index Portfolio - Class I		1,872		0.6
	178		VY® Clarion Real Estate Portfolio - Class I		6,528		2.0
	577		VY® Invesco Comstock Portfolio - Class I		9,535		3.0
	1,079		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		32,080		10.0
	191	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		18,271		5.7
			Total Mutual Funds (Cost $291,774)		292,847		91.0
			Total Investments in Securities (Cost $315,364)	$	317,296		98.6
			Assets in Excess of Other Liabilities		4,389		1.4
			Net Assets	$	321,685		100.0

@	Non-income producing security.
	Cost for federal income tax purposes is $316,602.
	Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	5,751
Gross Unrealized Depreciation		(5,057	)
Net Unrealized Appreciation	$	694

Voya Solution 2030 Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	24,449	$	–	$	–	$	24,449
Mutual Funds		292,847		–		–		292,847
Total Investments, at fair value	$	317,296	$	–	$	–	$	317,296

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment  Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	3,240	$	3,165	$	(140	)	$	98		$	6,363	$	-	$	(12	)	$	-
Voya Floating Rate Fund - Class I		8,700		7,720		(356	)		115			16,179		97		(7	)		-
Voya High Yield Bond Fund - Class I		6,995		7,643		(3,200	)		231			11,669		110		(158	)		-
Voya Intermediate Bond Fund - Class R6		5,276		4,695		(340	)		79			9,710		43		7			-
Voya International Core Fund - Class I		8,480		7,438		(403	)		463			15,978		-		(71	)		-
Voya International Index Portfolio - Class I		6,669		6,035		(364	)		351			12,691		-		(21	)		-
Voya Large Cap Growth Portfolio - Class I		11,410		12,311		(732	)		351			23,340		-		43			-
Voya Large Cap Value Fund - Class R6		7,803		13,788		(3,999	)		(174	)		17,418		14		(221	)		310
Voya MidCap Opportunities Portfolio - Class I		5,254		4,457		(340	)		303			9,674		-		(17	)		-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		3,197		3,273		(140	)		(32	)		6,298		-		(11	)		-
Voya Multi-Manager International Equity Fund - Class I		10,004		9,102		(624	)		624			19,106		-		(70	)		-
Voya Multi-Manager Large Cap Core Portfolio - Class I		12,300		13,370		(2,189	)		(149	)		23,332		-		92			-
Voya Multi-Manager Mid Cap Value Fund - Class I		10,367		9,052		(570	)		535			19,384		-		(74	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		5,217		4,457		(292	)		240			9,622		-		36			-
Voya Short Term Bond Fund - Class R6		7,024		9,230		(2,225	)		37			14,066		41		(15	)		-
Voya Small Company Portfolio - Class I		5,277		4,457		(243	)		240			9,731		-		21			-
Voya U.S. Stock Index Portfolio - Class I		1,770		130		(49	)		21			1,872		-		-			-
VY® Clarion Real Estate Portfolio - Class I		3,665		3,330		(561	)		94			6,528		-		103			-
VY® Invesco Comstock Portfolio - Class I		5,184		4,674		(285	)		(38	)		9,535		-		6			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		17,502		14,857		(850	)		571			32,080		-		(22	)		-
VY® T. Rowe Price Growth Equity Portfolio - Class I		9,888		8,577		(681	)		487			18,271		-		60			-
	$	155,222	$	151,761	$	(18,583	)	$	4,447		$	292,847	$	305	$	(331	)	$	310

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Solution 2035 Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage  of Net Assets
EXCHANGE-TRADED FUNDS: 7.0%
	164,505		iShares Barclays 20+ Year Treasury Bond Fund	$	21,499,159		2.0
	300,940		iShares Russell 1000 Value Index Fund		31,020,895		3.0
	99,981		SPDR Trust Series 1		20,639,078		2.0
		Total Exchange-Traded Funds (Cost $68,535,711)			73,159,132		7.0
MUTUAL FUNDS: 89.8%
			Affiliated Investment Companies: 89.8%
	1,887,965		Voya Emerging Markets Index Portfolio - Class I		20,578,818		2.0
	5,230,603		Voya Floating Rate Fund - Class I		52,881,394		5.1
	2,534,524		Voya High Yield Bond Fund - Class I		20,631,025		2.0
	7,292,325		Voya International Core Fund - Class I		70,443,859		6.8
	4,187,335		Voya International Index Portfolio - Class I		41,329,000		4.0
	3,458,057		Voya Large Cap Growth Portfolio - Class I		72,273,393		6.9
	4,013,716		Voya Large Cap Value Fund - Class R6		51,295,292		4.9
	1,979,745		Voya MidCap Opportunities Portfolio - Class I		31,616,530		3.0
	3,895,027		Voya Multi-Manager Emerging Markets Equity Fund - Class I		40,625,137		3.9
	7,677,805		Voya Multi-Manager International Equity Fund - Class I		85,607,524		8.2
	3,909,473		Voya Multi-Manager Large Cap Core Portfolio - Class I		61,496,012		5.9
	4,859,111		Voya Multi-Manager Mid Cap Value Fund - Class I		63,265,621		6.1
	1,093,017		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		31,380,512		3.0
	1,045,838		Voya Short Term Bond Fund - Class R6		10,437,466		1.0
	1,311,586		Voya Small Company Portfolio - Class I		31,779,734		3.0
	2,059,755		Voya U.S. Stock Index Portfolio - Class I		30,504,968		2.9
	583,225		VY® Clarion Real Estate Portfolio - Class I		21,445,185		2.1
	1,876,723		VY® Invesco Comstock Portfolio - Class I		31,022,232		3.0
	3,519,058		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		104,656,781		10.0
	650,447	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		62,143,675		6.0
		Total Mutual Funds (Cost $868,920,744)			935,414,158		89.8
		Total Investments in Securities (Cost $937,456,455)		$	1,008,573,290		96.8
		Assets in Excess of Other Liabilities			33,202,724		3.2
		Net Assets		$	1,041,776,014		100.0

@	Non-income producing security.
	Cost for federal income tax purposes is $944,214,985.
	Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	76,122,944
Gross Unrealized Depreciation		(11,764,639	)
Net Unrealized Appreciation	$	64,358,305

Voya Solution 2035 Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	73,159,132	$	–	$	–	$	73,159,132
Mutual Funds		935,414,158		–		–		935,414,158
Total Investments, at fair value	$	1,008,573,290	$	–	$	–	$	1,008,573,290
Other Financial Instruments+
Futures		213,683		–		–		213,683
Total Assets	$	1,008,786,973	$	–	$	–	$	1,008,786,973

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning  Market  Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	19,856,322		1,205,259		(1,028,619	)	$	545,856		$	20,578,818		-		(84,406	)		-
Voya Floating Rate Fund - Class I		52,487,129		2,470,217		(2,699,313	)		623,361			52,881,394		494,899		(58,279	)		-
Voya High Yield Bond Fund - Class I		41,626,763		1,517,343		(23,751,349	)		1,238,268			20,631,025		415,730		(934,693	)		-
Voya International Core Fund - Class I		69,053,265		1,288,272		(3,107,517	)		3,209,839			70,443,859		-		79,203			-
Voya International Index Portfolio - Class I		40,407,486		1,033,285		(2,249,467	)		2,137,696			41,329,000		-		(7,917	)		-
Voya Large Cap Growth Portfolio - Class I		73,176,466		970,123		(3,584,913	)		1,711,717			72,273,393		-		1,326,607			-
Voya Large Cap Value Fund - Class R6		51,388,012		5,326,237		(3,741,773	)		(1,677,184	)		51,295,292		87,964		35,080			1,902,766
Voya MidCap Opportunities Portfolio - Class I		31,701,643		415,767		(1,824,890	)		1,324,010			31,616,530		-		279,428			-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		39,232,448		3,620,598		(2,049,253	)		(178,656	)		40,625,137		-		(160,827	)		-
Voya Multi-Manager International Equity Fund - Class I		83,384,571		2,432,671		(4,096,130	)		3,886,412			85,607,524		-		817,458			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		63,656,782		1,247,420		(3,286,627	)		(121,563	)		61,496,012		-		548,497			-
Voya Multi-Manager Mid Cap Value Fund - Class I		62,919,285		1,197,632		(3,152,728	)		2,301,432			63,265,621		-		109,647			-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		31,535,355		415,767		(1,862,418	)		1,291,808			31,380,512		-		307,408			-
Voya Short Term Bond Fund - Class R6		10,212,894		1,139,346		(947,743	)		32,969			10,437,466		50,817		(3,530	)		-
Voya Small Company Portfolio - Class I		31,981,805		415,767		(1,516,902	)		899,064			31,779,734		-		387,445			-
Voya U.S. Stock Index Portfolio - Class I		30,242,542		3,240,876		(3,284,082	)		305,632			30,504,968		-		32,592			-
VY® Clarion Real Estate Portfolio - Class I		21,905,320		2,348,355		(2,560,524	)		(247,966	)		21,445,185		-		1,325,382			-
VY® Invesco Comstock Portfolio - Class I		31,360,379		1,527,551		(1,700,515	)		(165,183	)		31,022,232		-		181,875			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		105,437,209		1,745,038		(4,808,692	)		2,283,226			104,656,781		-		1,039,220			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		62,498,459		831,534		(2,871,229	)		1,684,911			62,143,675		-		1,973,039			-
	$	954,064,135	$	34,389,058	$	(74,124,684	)	$	21,085,649		$	935,414,158	$	1,049,410	$	7,193,229		$	1,902,766

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution 2035 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	160	06/11/15	$	20,591,154	$	213,683
			$	20,591,154	$	213,683

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution 2035 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	213,683
Total Asset Derivatives		$	213,683

Voya Solution 2040 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 6.9%
	60		iShares Barclays 20+ Year Treasury Bond Fund	$	7,841		1.0
	157		iShares Russell 1000 Value Index Fund		16,184		2.0
	78		SPDR Trust Series 1		16,102		2.0
	283		WisdomTree Japan Hedged Equity Fund		15,599		1.9
		Total Exchange-Traded Funds
		(Cost $54,153)			55,726		6.9
MUTUAL FUNDS: 91.7%
			Affiliated Investment Companies: 91.7%
	1,468		Voya Emerging Markets Index Portfolio - Class I		16,005		2.0
	1,622		Voya Floating Rate Fund - Class I		16,394		2.0
	2,071		Voya High Yield Bond Fund - Class I		16,860		2.1
	5,663		Voya International Core Fund - Class I		54,700		6.7
	3,253		Voya International Index Portfolio - Class I		32,109		4.0
	2,875		Voya Large Cap Growth Portfolio - Class I		60,084		7.4
	4,772		Voya Large Cap Value Fund - Class R6		60,986		7.5
	1,536		Voya MidCap Opportunities Portfolio - Class I		24,524		3.0
	3,029		Voya Multi-Manager Emerging Markets Equity Fund - Class I		31,593		3.9
	5,963		Voya Multi-Manager International Equity Fund - Class I		66,486		8.2
	3,414		Voya Multi-Manager Large Cap Core Portfolio - Class I		53,706		6.6
	4,399		Voya Multi-Manager Mid Cap Value Fund - Class I		57,277		7.1
	1,131		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		32,457		4.0
	1,356		Voya Small Company Portfolio - Class I		32,864		4.1
	2,123		Voya U.S. Stock Index Portfolio - Class I		31,442		3.9
	452		VY® Clarion Real Estate Portfolio - Class I		16,629		2.0
	1,456		VY® Invesco Comstock Portfolio - Class I		24,075		3.0
	1,979		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		58,849		7.3
	589	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		56,247		6.9
		Total Mutual Funds
		(Cost $741,635)			743,287		91.7
		Total Investments in Securities (Cost $795,788)		$	799,013		98.6
		Assets in Excess of Other Liabilities			11,026		1.4
		Net Assets		$	810,039		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $800,515.

Net unrealized depreciation consists of:

Gross Unrealized Appreciation	$	25,117
Gross Unrealized Depreciation		(26,619	)
Net Unrealized Depreciation	$	(1,502	)

Voya Solution 2040 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	55,726	$	–	$	–	$	55,726
Mutual Funds		743,287		–		–		743,287
Total Investments, at fair value	$	799,013	$	–	$	–	$	799,013

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	13,747	$	2,423	$	(556	)	$	391		$	16,005	$	-	$	(42	)	$	-
Voya Floating Rate Fund - Class I		14,499		2,379		(657	)		173			16,394		144		(7	)		-
Voya High Yield Bond Fund - Class I		28,763		4,246		(17,296	)		1,147			16,860		304		(914	)		-
Voya International Core Fund - Class I		47,731		6,525		(2,301	)		2,745			54,700		-		(317	)		-
Voya International Index Portfolio - Class I		27,943		3,783		(1,197	)		1,580			32,109		-		(21	)		-
Voya Large Cap Growth Portfolio - Class I		54,166		6,805		(2,919	)		2,032			60,084		-		274			-
Voya Large Cap Value Fund - Class R6		54,564		10,790		(2,600	)		(1,768	)		60,986		96		(68	)		2,069
Voya MidCap Opportunities Portfolio - Class I		21,896		2,722		(1,284	)		1,190			24,524		-		(18	)		-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		27,169		5,689		(1,131	)		(134	)		31,593		-		(100	)		-
Voya Multi-Manager International Equity Fund - Class I		57,663		8,021		(2,845	)		3,647			66,486		-		(211	)		-
Voya Multi-Manager Large Cap Core Portfolio - Class I		49,453		6,287		(2,230	)		196			53,706		-		129			-
Voya Multi-Manager Mid Cap Value Fund - Class I		50,721		6,427		(2,153	)		2,282			57,277		-		(183	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		29,047		3,630		(1,513	)		1,293			32,457		-		247			-
Voya Small Company Portfolio - Class I		29,445		3,630		(1,315	)		1,104			32,864		-		173			-
Voya U.S. Stock Index Portfolio - Class I		29,429		7,259		(5,360	)		114			31,442		-		170			-
VY® Clarion Real Estate Portfolio - Class I		15,106		3,350		(2,195	)		368			16,629		-		397			-
VY® Invesco Comstock Portfolio - Class I		21,670		3,409		(965	)		(39	)		24,075		-		57			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		52,791		6,961		(2,629	)		1,726			58,849		-		7			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		50,382		6,352		(3,151	)		2,664			56,247		-		378			-
	$	676,185	$	100,688	$	(54,297	)	$	20,711		$	743,287	$	544	$	(49	)	$	2,069

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Solution 2045 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 5.5%
	57,210		iShares Barclays 20+ Year Treasury Bond Fund	$	7,476,775		1.0
	174,474		iShares Russell 1000 Value Index Fund		17,984,780		2.5
	69,533		SPDR Trust Series 1		14,353,697		2.0
		Total Exchange-Traded Funds
		(Cost $37,236,564)			39,815,252		5.5
MUTUAL FUNDS: 92.3%
			Affiliated Investment Companies: 92.3%
	1,313,268		Voya Emerging Markets Index Portfolio - Class I		14,314,626		2.0
	1,273,368		Voya Floating Rate Fund - Class I		12,873,752		1.8
	5,636,059		Voya International Core Fund - Class I		54,444,330		7.5
	2,912,636		Voya International Index Portfolio - Class I		28,747,722		4.0
	2,577,217		Voya Large Cap Growth Portfolio - Class I		53,863,839		7.4
	4,197,531		Voya Large Cap Value Fund - Class R6		53,644,448		7.4
	1,377,111		Voya MidCap Opportunities Portfolio - Class I		21,992,463		3.0
	2,709,315		Voya Multi-Manager Emerging Markets Equity Fund - Class I		28,258,152		3.9
	6,149,731		Voya Multi-Manager International Equity Fund - Class I		68,569,499		9.5
	3,172,610		Voya Multi-Manager Large Cap Core Portfolio - Class I		49,905,156		6.9
	3,943,350		Voya Multi-Manager Mid Cap Value Fund - Class I		51,342,419		7.1
	1,013,743		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		29,104,568		4.0
	1,216,476		Voya Small Company Portfolio - Class I		29,475,206		4.1
	2,640,561		Voya U.S. Stock Index Portfolio - Class I		39,106,710		5.4
	405,685		VY® Clarion Real Estate Portfolio - Class I		14,917,051		2.0
	1,305,423		VY® Invesco Comstock Portfolio - Class I		21,578,642		3.0
	1,405,514		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		41,799,995		5.8
	565,572	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		54,034,729		7.5
		Total Mutual Funds
		(Cost $619,075,911)			667,973,307		92.3
		Total Investments in Securities (Cost $656,312,475)		$	707,788,559		97.8
		Assets in Excess of Other Liabilities			15,723,068		2.2
		Net Assets		$	723,511,627		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $660,234,629.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	56,472,232
Gross Unrealized Depreciation		(8,918,302	)
Net Unrealized Appreciation	$	47,553,930

Voya Solution 2045 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	39,815,252	$	–	$	–	$	39,815,252
Mutual Funds		667,973,307		–		–		667,973,307
Total Investments, at fair value	$	707,788,559	$	–	$	–	$	707,788,559
Other Financial Instruments+
Futures		148,085		–		–		148,085
Total Assets	$	707,936,644	$	–	$	–	$	707,936,644

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	13,754,033	$	841,884	$	(653,346	)	$	372,055		$	14,314,626	$	-	$	(54,102	)	$	-
Voya Floating Rate Fund - Class I		12,730,621		638,904		(642,983	)		147,210			12,873,752		120,278		(10,138	)		-
Voya Intermediate Bond Fund - Class R6		7,354,485		-		(7,299,270	)		(55,215	)		-		3,247		106,193			-
Voya International Core Fund - Class I		53,160,069		1,132,284		(2,103,342	)		2,255,319			54,444,330		-		274,760			-
Voya International Index Portfolio - Class I		27,995,759		601,525		(1,331,048	)		1,481,486			28,747,722		-		(8,284	)		-
Voya Large Cap Growth Portfolio - Class I		54,320,049		669,520		(2,470,636	)		1,344,906			53,863,839		-		904,595			-
Voya Large Cap Value Fund - Class R6		53,853,890		4,533,483		(2,620,375	)		(2,122,550	)		53,644,448		91,849		375,843			1,986,790
Voya MidCap Opportunities Portfolio - Class I		21,963,056		267,808		(1,173,186	)		934,785			21,992,463		-		175,448			-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		27,176,171		2,521,046		(1,298,895	)		(140,170	)		28,258,152		-		(100,408	)		-
Voya Multi-Manager International Equity Fund - Class I		66,523,666		1,671,293		(2,866,164	)		3,240,704			68,569,499		-		507,635			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		51,452,573		815,095		(2,314,985	)		(47,527	)		49,905,156		-		381,686			-
Voya Multi-Manager Mid Cap Value Fund - Class I		50,851,121		778,417		(2,367,721	)		2,080,602			51,342,419		-		(134,025	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		29,130,073		357,078		(1,600,122	)		1,217,539			29,104,568		-		258,073			-
Voya Small Company Portfolio - Class I		29,542,471		357,078		(1,354,783	)		930,440			29,475,206		-		256,965			-
Voya U.S. Stock Index Portfolio - Class I		39,043,632		2,557,314		(3,060,736	)		566,500			39,106,710		-		(171,335	)		-
VY® Clarion Real Estate Portfolio - Class I		15,180,551		1,672,873		(1,953,838	)		17,465			14,917,051		-		731,784			-
VY® Invesco Comstock Portfolio - Class I		21,724,700		977,950		(1,023,356	)		(100,652	)		21,578,642		-		107,439			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		42,007,144		958,050		(1,922,242	)		757,043			41,799,995		-		564,467			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		54,125,848		669,520		(2,579,347	)		1,818,708			54,034,729		-		1,347,187			-
	$	671,889,912	$	22,021,122	$	(40,636,375	)	$	14,698,648		$	667,973,307	$	215,374	$	5,513,783		$	1,986,790

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution 2045 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	111	06/11/15	$	14,285,113	$	148,085
			$	14,285,113	$	148,085

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution 2045 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	148,085
Total Asset Derivatives		$	148,085

Voya Solution 2050 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 7.2%
	32		iShares Barclays 20+ Year Treasury Bond Fund	$	4,182		1.0
	97		iShares Russell 1000 Value Index Fund		9,999		2.3
	39		SPDR Trust Series 1		8,051		1.9
	152		WisdomTree Japan Hedged Equity Fund		8,378		2.0
		Total Exchange-Traded Funds
		(Cost $29,669)			30,610		7.2
MUTUAL FUNDS: 92.3%
			Affiliated Investment Companies: 92.3%
	772		Voya Emerging Markets Index Portfolio - Class I		8,417		2.0
	748		Voya Floating Rate Fund - Class I		7,562		1.8
	3,312		Voya International Core Fund - Class I		31,994		7.5
	1,712		Voya International Index Portfolio - Class I		16,897		4.0
	1,514		Voya Large Cap Growth Portfolio - Class I		31,649		7.4
	2,508		Voya Large Cap Value Fund - Class R6		32,055		7.5
	809		Voya MidCap Opportunities Portfolio - Class I		12,920		3.0
	1,593		Voya Multi-Manager Emerging Markets Equity Fund - Class I		16,616		3.9
	3,614		Voya Multi-Manager International Equity Fund - Class I		40,299		9.4
	1,865		Voya Multi-Manager Large Cap Core Portfolio - Class I		29,329		6.9
	2,317		Voya Multi-Manager Mid Cap Value Fund - Class I		30,169		7.1
	596		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		17,102		4.0
	715		Voya Small Company Portfolio - Class I		17,320		4.0
	1,608		Voya U.S. Stock Index Portfolio - Class I		23,819		5.6
	238		VY® Clarion Real Estate Portfolio - Class I		8,760		2.0
	767		VY® Invesco Comstock Portfolio - Class I		12,680		3.0
	833		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		24,771		5.8
	332	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		31,750		7.4
		Total Mutual Funds
		(Cost $392,821)			394,109		92.3
		Total Investments in Securities (Cost $422,490)		$	424,719		99.5
		Assets in Excess of Other Liabilities			2,070		0.5
		Net Assets		$	426,789		100.0

@ Non-income producing security.

Cost for federal income tax purposes is $423,798.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	14,084
Gross Unrealized Depreciation		(13,163	)
Net Unrealized Appreciation	$	921

Voya Solution 2050 Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	30,610	$	–	$	–	$	30,610
Mutual Funds		394,109		–		–		394,109
Total Investments, at fair value	$	424,719	$	–	$	–	$	424,719

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value  at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	7,130	$	1,185	$	(64	)	$	166		$	8,417	$	-	$	(5	)	$	-
Voya Floating Rate Fund - Class I		6,581		1,022		(119	)		78			7,562		66		(2	)		-
Voya Intermediate Bond Fund - Class R6		3,800		-		(3,773	)		(27	)		-		2		54			-
Voya International Core Fund - Class I		27,511		3,505		(378	)		1,356			31,994		-		6			-
Voya International Index Portfolio - Class I		14,495		1,801		(177	)		778			16,897		-		4			-
Voya Large Cap Growth Portfolio - Class I		28,097		3,250		(807	)		1,109			31,649		-		66			-
Voya Large Cap Value Fund - Class R6		28,335		5,545		(742	)		(1,083	)		32,055		54		(9	)		1,158
Voya MidCap Opportunities Portfolio - Class I		11,358		1,300		(356	)		618			12,920		-		(13	)		-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		14,092		2,811		(122	)		(165	)		16,616		-		(3	)		-
Voya Multi-Manager International Equity Fund - Class I		34,443		4,411		(518	)		1,963			40,299		-		40			-
Voya Multi-Manager Large Cap Core Portfolio - Class I		26,573		3,136		(491	)		111			29,329		-		28			-
Voya Multi-Manager Mid Cap Value Fund - Class I		26,309		3,057		(286	)		1,089			30,169		-		(16	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		15,067		1,733		(431	)		733			17,102		-		64			-
Voya Small Company Portfolio - Class I		15,273		1,733		(319	)		633			17,320		-		33			-
Voya U.S. Stock Index Portfolio - Class I		20,907		4,116		(1,419	)		215			23,819		-		(71	)		-
VY® Clarion Real Estate Portfolio - Class I		7,836		1,678		(967	)		213			8,760		-		176			-
VY® Invesco Comstock Portfolio - Class I		11,240		1,651		(196	)		(15	)		12,680		-		12			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		21,719		2,936		(600	)		716			24,771		-		(9	)		-
VY® T. Rowe Price Growth Equity Portfolio - Class I		28,002		3,250		(1,065	)		1,563			31,750		-		117			-
	$	348,768	$	48,120	$	(12,830	)	$	10,051		$	394,109	$	122	$	472		$	1,158

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

Voya Solution 2055 Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 5.1%
	6,777		iShares Barclays 20+ Year Treasury Bond Fund	$	885,686		0.8
	27,519		iShares Russell 1000 Value Index Fund		2,836,659		2.4
	10,982		SPDR Trust Series 1		2,267,014		1.9
		Total Exchange-Traded Funds (Cost $5,595,537)			5,989,359		5.1
MUTUAL FUNDS: 92.9%
			Affiliated Investment Companies: 92.9%
	215,089		Voya Emerging Markets Index Portfolio - Class I		2,344,475		2.0
	922,288		Voya International Core Fund - Class I		8,909,304		7.5
	476,718		Voya International Index Portfolio - Class I		4,705,208		4.0
	421,811		Voya Large Cap Growth Portfolio - Class I		8,815,856		7.5
	695,332		Voya Large Cap Value Fund - Class R6		8,886,339		7.5
	225,341		Voya MidCap Opportunities Portfolio - Class I		3,598,688		3.0
	443,811		Voya Multi-Manager Emerging Markets Equity Fund - Class I		4,628,954		3.9
	1,006,480		Voya Multi-Manager International Equity Fund - Class I		11,222,251		9.5
	519,394		Voya Multi-Manager Large Cap Core Portfolio - Class I		8,170,064		6.9
	645,326		Voya Multi-Manager Mid Cap Value Fund - Class I		8,402,146		7.1
	165,904		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		4,763,110		4.0
	199,045		Voya Small Company Portfolio - Class I		4,822,851		4.1
	601,609		Voya U.S. Stock Index Portfolio - Class I		8,909,832		7.5
	66,354		VY® Clarion Real Estate Portfolio - Class I		2,439,852		2.1
	213,676		VY® Invesco Comstock Portfolio - Class I		3,532,070		3.0
	231,132		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		6,873,877		5.8
	92,561	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		8,843,310		7.5
		Total Mutual Funds (Cost $105,994,095)			109,868,187		92.9
		Total Investments in Securities (Cost $111,589,632)		$	115,857,546		98.0
		Assets in Excess of Other Liabilities			2,413,919		2.0
		Net Assets		$	118,271,465		100.0

@	Non-income producing security.
	Cost for federal income tax purposes is $112,069,914.
	Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	5,940,243
Gross Unrealized Depreciation		(2,152,611	)
Net Unrealized Appreciation	$	3,787,632

Voya Solution 2055 Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	5,989,359	$	–	$	–	$	5,989,359
Mutual Funds		109,868,187		–		–		109,868,187
Total Investments, at fair value	$	115,857,546	$	–	$	–	$	115,857,546
Other Financial Instruments+
Futures		24,166		–		–		24,166
Total Assets	$	115,881,712	$	–	$	–	$	115,881,712

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning  Market Value at 12/31/14		Purchases  at Cost		Sales  at Cost			Change in  Unrealized Appreciation/ (Depreciation)			Ending Market Value at  3/31/15		Investment  Income		Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	2,096,154	$	264,382	$	(71,048	)	$	54,987		$	2,344,475	$	-	$	(6,302	)	$	-
Voya Intermediate Bond Fund - Class R6		838,169		2,657		(837,062	)		(3,764	)		-		368		9,590			-
Voya International Core Fund - Class I		8,088,480		691,868		(285,826	)		414,782			8,909,304		-		(22,559	)		-
Voya International Index Portfolio - Class I		4,260,940		363,348		(149,425	)		230,345			4,705,208		-		(3,131	)		-
Voya Large Cap Growth Portfolio - Class I		8,263,096		614,904		(302,298	)		240,154			8,815,856		-		107,319			-
Voya Large Cap Value Fund - Class R6		8,308,600		1,188,170		(321,946	)		(288,485	)		8,886,339		14,629		1,780			316,445
Voya MidCap Opportunities Portfolio - Class I		3,340,820		245,962		(151,245	)		163,151			3,598,688		-		11,738			-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		4,142,164		657,569		(137,018	)		(33,761	)		4,628,954		-		(7,528	)		-
Voya Multi-Manager International Equity Fund - Class I		10,125,558		899,713		(385,158	)		582,138			11,222,251		-		(1,184	)		-
Voya Multi-Manager Large Cap Core Portfolio - Class I		7,824,953		609,608		(270,862	)		6,365			8,170,064		-		43,234			-
Voya Multi-Manager Mid Cap Value Fund - Class I		7,738,805		597,019		(260,364	)		326,686			8,402,146		-		(18,257	)		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		4,431,650		327,949		(197,403	)		200,914			4,763,110		-		30,302			-
Voya Small Company Portfolio - Class I		4,493,510		327,949		(171,136	)		172,528			4,822,851		-		16,548			-
Voya U.S. Stock Index Portfolio - Class I		8,327,836		957,513		(470,711	)		95,194			8,909,832		-		(23,663	)		-
VY® Clarion Real Estate Portfolio - Class I		2,305,337		398,835		(270,832	)		6,512			2,439,852		-		106,906			-
VY® Invesco Comstock Portfolio - Class I		3,306,078		354,855		(118,578	)		(10,285	)		3,532,070		-		11,849			-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		6,387,718		576,031		(262,735	)		172,863			6,873,877		-		33,217			-
VY® T. Rowe Price Growth Equity Portfolio - Class I		8,234,736		614,904		(348,970	)		342,640			8,843,310		-		149,362			-
	$	102,514,604	$	9,693,236	$	(5,012,617	)	$	2,672,964		$	109,868,187	$	14,997	$	439,221		$	316,445

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At March 31, 2015, the following futures contracts were outstanding for Voya Solution 2055 Portfolio:

Contract Description	Number of Contracts	Expiration Date	Notional Value		Unrealized Appreciation/ (Depreciation)
Long Contracts
Tokyo Price Index (TOPIX)	18	06/11/15	$	2,316,505	$	24,166
			$	2,316,505	$	24,166

A summary of derivative instruments by primary risk exposure is outlined in the following table.

The fair value of derivative instruments for Voya Solution 2055 Portfolio as of March 31, 2015 were as follows:

Derivatives not accounted for as hedging instruments 

Asset Derivatives	Instrument Type		Fair Value
Equity contracts	Futures contracts	$	24,166
Total Asset Derivatives		$	24,166

	PORTFOLIO OF INVESTMENTS
Voya Solution 2060 Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 7.0%
	1		iShares Barclays 20+ Year Treasury Bond Fund	$	131		0.9
	4		iShares Russell 1000 Value Index Fund		412		2.7
	1		SPDR Trust Series 1		206		1.3
	6		WisdomTree Japan Hedged Equity Fund		331		2.1
		Total Exchange-Traded Funds
		(Cost $1,049)			1,080		7.0
MUTUAL FUNDS: 92.9%
			Affiliated Investment Companies: 92.9%
	28		Voya Emerging Markets Index Portfolio - Class I		309		2.0
	120		Voya International Core Fund - Class I		1,160		7.5
	62		Voya International Index Portfolio - Class I		613		4.0
	55		Voya Large Cap Growth Portfolio - Class I		1,151		7.4
	90		Voya Large Cap Value Fund - Class R6		1,155		7.5
	29		Voya MidCap Opportunities Portfolio - Class I		469		3.0
	59		Voya Multi-Manager Emerging Markets Equity Fund - Class I		611		3.9
	131		Voya Multi-Manager International Equity Fund - Class I		1,462		9.5
	68		Voya Multi-Manager Large Cap Core Portfolio - Class I		1,072		6.9
	84		Voya Multi-Manager Mid Cap Value Fund - Class I		1,094		7.1
	22		Voya RussellTM Mid Cap Growth Index Portfolio - Class I		620		4.0
	26		Voya Small Company Portfolio - Class I		628		4.1
	79		Voya U.S. Stock Index Portfolio - Class I		1,168		7.6
	9		VY® Clarion Real Estate Portfolio - Class I		318		2.1
	28		VY® Invesco Comstock Portfolio - Class I		462		3.0
	30		VY® T. Rowe Price Capital Appreciation Portfolio - Class I		892		5.8
	12	@	VY® T. Rowe Price Growth Equity Portfolio - Class I		1,152		7.5
		Total Mutual Funds
		(Cost $14,016)			14,336		92.9
		Total Investments in Securities (Cost $15,065)		$	15,416		99.9
		Assets in Excess of Other Liabilities			23		0.1
		Net Assets		$	15,439		100.0

@ Non-income producing security.

Cost for federal income tax purposes is the same as for financial statement purposes.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	399
Gross Unrealized Depreciation		(48	)
Net Unrealized Appreciation	$	351

	PORTFOLIO OF INVESTMENTS
Voya Solution 2060 Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	1,080	$	–	$	–	$	1,080
Mutual Funds		14,336		–		–		14,336
Total Investments, at fair value	$	15,416	$	–	$	–	$	15,416

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended March 31, 2015, where the following issuers were considered an affiliate:

Issuer	Beginning Market Value at 12/31/14		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Market Value at 3/31/15		Investment Income		Realized Gains/ (Losses)		Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	-	$	309	$	(1	)	$	1		$	309	$	-	$	-	$	-
Voya International Core Fund - Class I		-		1,125		(9	)		44			1,160		-		-		-
Voya International Index Portfolio - Class I		-		600		(6	)		19			613		-		-		-
Voya Large Cap Growth Portfolio - Class I		-		1,128		(11	)		34			1,151		-		-		-
Voya Large Cap Value Fund - Class R6		-		1,192		-			(37	)		1,155		2		-		42
Voya MidCap Opportunities Portfolio - Class I		-		450		(4	)		23			469		-		-		-
Voya Multi-Manager Emerging Markets Equity Fund - Class I		-		621		-			(10	)		611		-		-		-
Voya Multi-Manager International Equity Fund - Class I		-		1,425		(23	)		60			1,462		-		1		-
Voya Multi-Manager Large Cap Core Portfolio - Class I		-		1,062		-			10			1,072		-		-		-
Voya Multi-Manager Mid Cap Value Fund - Class I		-		1,057		-			37			1,094		-		-		-
Voya RussellTM Mid Cap Growth Index Portfolio - Class I		-		600		(7	)		27			620		-		-		-
Voya Small Company Portfolio - Class I		-		605		(1	)		24			628		-		-		-
Voya U.S. Stock Index Portfolio - Class I		-		1,153		-			15			1,168		-		-		-
VY® Clarion Real Estate Portfolio - Class I		-		318		-			-			318		-		-		-
VY® Invesco Comstock Portfolio - Class I		-		458		-			4			462		-		-		-
VY® T. Rowe Price Capital Appreciation Portfolio - Class I		-		874		-			18			892		-		-		-
VY® T. Rowe Price Growth Equity Portfolio - Class I		-		1,125		(24	)		51			1,152		-		1		-
	$	-	$	14,102	$	(86	)	$	320		$	14,336	$	2	$	2	$	42

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

VY® American Century Small-Mid Cap Value Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 96.3%
			Consumer Discretionary: 9.9%
	18,674	@	Bed Bath & Beyond, Inc.	$	1,433,696		0.5
	47,480		Carnival Corp.		2,271,443		0.7
	8,977	@	Cavco Industries, Inc.		673,814		0.2
	18,917	L	Century Communities, Inc.		365,666		0.1
	38,870		ClubCorp Holdings, Inc.		752,523		0.2
	4,170		Cooper Tire & Rubber Co.		178,643		0.1
	17,483		CST Brands, Inc.		766,280		0.2
	25,673		Culp, Inc.		686,753		0.2
	178,489		Cumulus Media, Inc.		440,868		0.1
	17,532		Dana Holding Corp.		370,977		0.1
	14,500		Dave & Buster's Entertainment, Inc.		441,670		0.1
	18,142		Destination Maternity Corp.		273,219		0.1
	47,431	@	Entercom Communications Corp.		576,287		0.2
	224,563		Entravision Communications Corp.		1,421,484		0.4
	36,009		Honda Motor Co., Ltd. ADR		1,179,655		0.4
	10,926	@	Journal Communications, Inc.		161,923		0.1
	8,800		Libbey, Inc.		351,208		0.1
	20,842		Lowe's Cos, Inc.		1,550,436		0.5
	18,096	@	Malibu Boats, Inc.		422,542		0.1
	7,100	@	MarineMax, Inc.		188,221		0.1
	49,062	@	Markit Ltd.		1,319,768		0.4
	74,373		Mattel, Inc.		1,699,423		0.5
	15,507		Movado Group, Inc.		442,260		0.1
	12,392		Nexstar Broadcasting Group, Inc.		709,070		0.2
	16,963	@	Office Depot, Inc.		156,060		0.1
	7,767	@,L	Papa Murphy's Holdings, Inc.		140,893		0.0
	20,020		Peak Resorts, Inc.		123,323		0.0
	15,265		Penske Auto Group, Inc.		785,995		0.3
	52,849		Pulte Homes, Inc.		1,174,833		0.4
	10,105		Ralph Lauren Corp.		1,328,807		0.4
	7,941	@	Red Robin Gourmet Burgers, Inc.		690,867		0.2
	7,831	@	Shutterfly, Inc.		354,274		0.1
	11,600		Sotheby's		490,216		0.2
	14,295	@	Steiner Leisure Ltd.		677,583		0.2
	20,100	@	Stoneridge, Inc.		226,929		0.1
	11,497		Superior Industries International		217,638		0.1
	18,634		Target Corp.		1,529,292		0.5
	17,613		Thor Industries, Inc.		1,113,318		0.4
	9,065		Time Warner Cable, Inc.		1,358,662		0.4
	43,397	@	Toll Brothers, Inc.		1,707,238		0.5
	23,014	@	Tower International, Inc.		612,172		0.2
	11,409	@,L	Townsquare Media, Inc.		146,606		0.1
					31,512,535		9.9
			Consumer Staples: 5.5%
	31,641		Campbell Soup Co.		1,472,889		0.5
	87,116		ConAgra Foods, Inc.		3,182,347		1.0
	41,877		General Mills, Inc.		2,370,238		0.7
	9,382		Danone		632,418		0.2
	17,456		JM Smucker Co.		2,020,183		0.6
	22,476		Kellogg Co.		1,482,292		0.5
	63,488		Mondelez International, Inc.		2,291,282		0.7
	5,500		Snyders-Lance, Inc.		175,780		0.1
	96,963		Sysco Corp.		3,658,414		1.1
	1,800	@	TreeHouse Foods, Inc.		153,036		0.0
	6,031		Village Super Market		189,615		0.1
	1,728		Weis Markets, Inc.		85,985		0.0
					17,714,479		5.5
			Energy: 5.7%
	30,692	L	Aegean Marine Petroleum Network, Inc.		441,044		0.1
	1,970		Antero Midstream Partners L.P.		47,654		0.0
	18,749		Apache Corp.		1,131,127		0.4
	46,583		Ardmore Shipping Corp.		469,091		0.1
	38,415	@	Cameron International Corp.		1,733,285		0.5
	1,252		Delek US Holdings, Inc.		49,767		0.0
	39,372		Devon Energy Corp.		2,374,525		0.7
	24,058	L	Euronav NV		290,139		0.1
	7,573		Forum Energy Technologies, Inc.		148,431		0.0
	12,265		Helmerich & Payne, Inc.		834,879		0.3
	125,511		Imperial Oil Ltd.		5,009,341		1.6
	12,072	@	Matrix Service Co.		211,984		0.1
	32,775		Noble Energy, Inc.		1,602,698		0.5
	17,950		Nordic American Tankers Ltd.		213,785		0.1
	20,036		Northern Tier Energy L.P.		507,712		0.2
	27,182		Occidental Petroleum Corp.		1,984,286		0.6
	1,799	@	PDC Energy, Inc.		97,218		0.0
	65,977		Scorpio Tankers, Inc.		621,503		0.2
	12,376	@	Southwestern Energy Co.		286,999		0.1
	3,186		Western Refining, Inc.		157,357		0.1
					18,212,825		5.7
			Financials: 29.2%
	18,425		ACE Ltd.		2,054,203		0.6
	16,150		Aflac, Inc.		1,033,761		0.3
	9,173		Allstate Corp.		652,842		0.2
	42,755		Annaly Capital Management, Inc.		444,652		0.1
	23,500		Apollo Commercial Real Estate Finance, Inc.		403,730		0.1
	31,411	L	Ares Management L.P.		582,360		0.2
	10,428		Argo Group International Holdings Ltd.		522,964		0.2
	39,700		Armada Hoffler Properties, Inc.		423,202		0.1
	14,966		Arthur J. Gallagher & Co.		699,660		0.2
	9,639		Associated Estates Realty Corp.		237,891		0.1
	27,222	@	Atlas Financial Holdings, Inc.		481,013		0.1

VY® American Century Small-Mid Cap Value Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	10,947		Baldwin & Lyons, Inc.	$	256,817		0.1
	24,914		Bank of Hawaii Corp.		1,524,986		0.5
	37,372		Bank of the Ozarks, Inc.		1,380,148		0.4
	59,495		BankUnited, Inc.		1,947,866		0.6
	28,190		BB&T Corp.		1,099,128		0.3
	8,400		Blackstone Mortgage Trust, Inc.		238,308		0.1
	20,824		BOK Financial Corp.		1,274,845		0.4
	9,574		Boston Properties, Inc.		1,344,956		0.4
	44,998		Brown & Brown, Inc.		1,489,884		0.5
	71,309		Campus Crest Communities, Inc.		510,572		0.2
	27,405		Capital Bank Financial Corp.		756,652		0.2
	32,153		Capitol Federal Financial, Inc.		401,912		0.1
	16,572		Capstead Mortgage Corp.		195,052		0.1
	9,928		CBL & Associates Properties, Inc.		196,574		0.1
	16,300		Chatham Lodging Trust		479,383		0.1
	12,889		Chubb Corp.		1,303,078		0.4
	19,200		CNO Financial Group, Inc.		330,624		0.1
	32,596		Comerica, Inc.		1,471,057		0.5
	66,227		Commerce Bancshares, Inc.		2,802,727		0.9
	33,933	L	Compass Diversified Trust		580,254		0.2
	71,660		Corrections Corp. of America		2,885,032		0.9
	28,548		Cullen/Frost Bankers, Inc.		1,972,096		0.6
	12,635		DiamondRock Hospitality Co.		178,533		0.1
	20,275	@	Eagle Bancorp, Inc.		778,560		0.2
	17,500		Easterly Government Properties, Inc.		280,875		0.1
	54,543		Empire State Realty Trust, Inc.		1,025,954		0.3
	17,866		Endurance Specialty Holdings Ltd.		1,092,327		0.3
	3,703		EPR Properties		222,291		0.1
	27,300		Excel Trust, Inc.		382,746		0.1
	29,461	L	FCB Financial Holdings, Inc.		806,348		0.3
	26,199	L	First Financial Bankshares, Inc.		724,140		0.2
	29,861		First Horizon National Corp.		426,714		0.1
	7,902		First Industrial Realty Trust, Inc.		169,340		0.1
	14,600		First NBC Bank Holding Co.		481,508		0.1
	32,351		FirstMerit Corp.		616,610		0.2
	26,309		Franklin Resources, Inc.		1,350,178		0.4
	4,166		Hanover Insurance Group, Inc.		302,368		0.1
	19,300		Hatteras Financial Corp.		350,488		0.1
	46,394		HCC Insurance Holdings, Inc.		2,629,148		0.8
	4,877		Healthcare Realty Trust, Inc.		135,483		0.0
	19,800		Hersha Hospitality Trust		128,106		0.0
	3,326		Highwoods Properties, Inc.		152,264		0.0
	36,911		Home Bancshares, Inc.		1,250,914		0.4
	55,888		Host Hotels & Resorts, Inc.		1,127,820		0.4
	5,383		Infinity Property & Casualty Corp.		441,675		0.1
	26,792		James River Group Holdings Ltd.		630,416		0.2
	16,519		Kite Realty Group Trust		465,340		0.1
	7,246		LaSalle Hotel Properties		281,580		0.1
	46,559		Lexington Realty Trust		457,675		0.1
	50,917		LPL Financial Holdings, Inc.		2,233,220		0.7
	20,896		M&T Bank Corp.		2,653,792		0.8
	11,600		Mack-Cali Realty Corp.		223,648		0.1
	28,000		Medical Properties Trust, Inc.		412,720		0.1
	19,126		Metlife, Inc.		966,819		0.3
	40,017		MFA Mortgage Investments, Inc.		314,534		0.1
	14,962		New Residential Investment Corp.		224,879		0.1
	95,490		Northern Trust Corp.		6,650,879		2.1
	43,058		OFG Bancorp		702,707		0.2
	15,178		Outfront Media, Inc.		454,126		0.1
	12,573		Pennsylvania Real Estate Investment Trust		292,071		0.1
	19,305		Pennymac Mortgage Investment Trust		411,003		0.1
	72,128		People's United Financial, Inc.		1,096,346		0.3
	9,888	@	PHH Corp.		238,993		0.1
	135,053		Piedmont Office Realty Trust, Inc.		2,513,336		0.8
	28,226		PNC Financial Services Group, Inc.		2,631,792		0.8
	9,821	@	Popular, Inc.		337,744		0.1
	10,096		PrivateBancorp, Inc.		355,076		0.1
	9,944		Radian Group, Inc.		166,960		0.1
	24,652		Reinsurance Group of America, Inc.		2,297,320		0.7
	11,900		Rexford Industrial Realty, Inc.		188,139		0.1
	5,349		RLJ Lodging Trust		167,477		0.1
	27,018		Rouse Properties, Inc.		512,261		0.2
	7,600		Sabra Healthcare REIT, Inc.		251,940		0.1
	19,484		ServisFirst Bancshares, Inc.		642,777		0.2
	29,692		Southside Bancshares, Inc.		851,863		0.3
	19,815		State Street Corp.		1,456,997		0.5
	34,600		Summit Hotel Properties, Inc.		486,822		0.2
	13,629		Sunstone Hotel Investors, Inc.		227,195		0.1
	38,131		SunTrust Bank		1,566,803		0.5
	14,151		T. Rowe Price Group, Inc.		1,145,948		0.4
	23,067	@	Texas Capital Bancshares, Inc.		1,122,210		0.4

VY® American Century Small-Mid Cap Value Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	17,288		Torchmark Corp.	$	949,457		0.3
	10,892		Travelers Cos., Inc.		1,177,752		0.4
	48,700		Two Harbors Investment Corp.		517,194		0.2
	54,998		Unum Group		1,855,083		0.6
	22,500		Urstadt Biddle Properties, Inc.		518,850		0.2
	15,083		Validus Holdings Ltd.		634,994		0.2
	98,624		Valley National Bancorp.		931,011		0.3
	13,200		Washington Real Estate Investment Trust		364,716		0.1
	38,586		Westamerica Bancorp.		1,667,301		0.5
	60,574		Weyerhaeuser Co.		2,008,028		0.6
					93,290,413		29.2
			Health Care: 8.6%
	31,383		AMN Healthcare Services, Inc.		724,006		0.2
	7,949		Becton Dickinson & Co.		1,141,397		0.3
	7,627	@	Bio-Rad Laboratories, Inc.		1,031,018		0.3
	85,840	@	Boston Scientific Corp.		1,523,660		0.5
	23,507		Cardinal Health, Inc.		2,121,977		0.7
	2,621		Catalent, Inc.		81,644		0.0
	15,314		Cigna Corp.		1,982,244		0.6
	6,877	@	Express Scripts Holding Co.		596,717		0.2
	22,614	@	Haemonetics Corp.		1,015,821		0.3
	19,400	@	Hanger Orthopedic Group, Inc.		440,186		0.1
	4,498		Healthsouth Corp.		199,531		0.1
	3,521		Hill-Rom Holdings, Inc.		172,529		0.0
	12,159	@	Hospira, Inc.		1,068,047		0.3
	10,218		Humana, Inc.		1,819,008		0.6
	51,807	@	LifePoint Hospitals, Inc.		3,805,224		1.2
	2,800	@	Magellan Health Services, Inc.		198,296		0.1
	38,367		MedAssets, Inc.		722,067		0.2
	3,200		National Healthcare Corp.		203,872		0.1
	5,478	@	Orthofix International NV		196,605		0.1
	5,444		Owens & Minor, Inc.		184,225		0.1
	39,983		Quest Diagnostics, Inc.		3,072,694		1.0
	21,112		Stryker Corp.		1,947,582		0.6
	10,790		Utah Medical Products, Inc.		645,889		0.2
	2,914		WellCare Health Plans, Inc.		266,515		0.1
	19,747		Zimmer Holdings, Inc.		2,320,668		0.7
					27,481,422		8.6
			Industrials: 13.2%
	7,068		AAR Corp.		216,988		0.1
	54,879	L	ADT Corp.		2,278,576		0.7
	23,185		Albany International Corp.		921,604		0.3
	17,425		Altra Holdings, Inc.		481,627		0.2
	9,557		American Science & Engineering, Inc.		466,955		0.1
	19,592	@	Beacon Roofing Supply, Inc.		613,230		0.2
	38,277		Brink's Co.		1,057,593		0.3
	29,942		CDI Corp.		420,685		0.1
	10,108		Celadon Group, Inc.		275,140		0.1
	42,773	@,L	Clean Harbors, Inc.		2,428,651		0.8
	27,128		Continental Building Products, Inc.		612,821		0.2
	23,844		Dynamic Materials Corp.		304,488		0.1
	59,806		Emerson Electric Co.		3,386,216		1.1
	10,572		EnPro Industries, Inc.		697,223		0.2
	118,083		Exelis, Inc.		2,877,683		0.9
	49,961		Global Brass & Copper Holdings, Inc.		771,897		0.2
	46,987		GrafTech International Ltd.		182,779		0.1
	8,329		Graham Corp.		199,646		0.1
	70,417	@	Great Lakes Dredge & Dock Corp.		423,206		0.1
	55,233		Heartland Express, Inc.		1,312,336		0.4
	5,781		Kaman Corp.		245,288		0.1
	29,361		Kforce, Inc.		655,044		0.2
	15,100		Marten Transport Ltd.		350,320		0.1
	19,937		Multi-Color Corp.		1,382,232		0.4
	16,077	@	NCI Building Systems, Inc.		277,811		0.1
	13,662	@	Northwest Pipe Co.		313,543		0.1
	19,100	@	On Assignment, Inc.		732,867		0.2
	66,866		Oshkosh Corp.		3,262,392		1.0
	14,969		Pentair PLC		941,400		0.3
	160,714		Republic Services, Inc.		6,518,560		2.0
	103,657		Koninklijke Philips NV		2,940,734		0.9
	20,029		Textron, Inc.		887,886		0.3
	55,692		Tyco International Plc		2,398,098		0.7
	48,997		Werner Enterprises, Inc.		1,538,996		0.5
					42,374,515		13.2
			Information Technology: 11.3%
	89,966		Applied Materials, Inc.		2,029,633		0.6
	16,850		Aruba Networks, Inc.		412,657		0.1
	8,100	@	AVG Technologies		175,365		0.1
	54,014		Broadcom Corp.		2,338,536		0.7
	23,563		BroadSoft, Inc.		788,418		0.2
	13,720		CommScope Holding Co., Inc.		391,569		0.1
	65,283		EVERTEC, Inc.		1,427,086		0.4
	30,192		Everyday Health, Inc.		388,269		0.1
	67,956	@	Exar Corp.		682,958		0.2
	42,068		Fairchild Semiconductor International, Inc.		764,796		0.2
	18,135		Fidelity National Information Services, Inc.		1,234,268		0.4
	17,027		Harris Corp.		1,341,047		0.4
	38,766		Ingram Micro, Inc.		973,802		0.3
	57,425		Keysight Technologies, Inc.		2,133,339		0.7
	53,175	@	Kulicke & Soffa Industries, Inc.		831,125		0.3
	34,148		Lam Research Corp.		2,398,385		0.8
	33,862		Maxim Integrated Products		1,178,736		0.4
	62,174		Mentor Graphics Corp.		1,494,041		0.5
	44,037		Microchip Technology, Inc.		2,153,409		0.7

VY® American Century Small-Mid Cap Value Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	23,495	@	Micron Technology, Inc.	$	637,419		0.2
	20,145	@	Nanometrics, Inc.		338,839		0.1
	43,986	@	Polycom, Inc.		589,412		0.2
	36,400	@	Riverbed Technolgoy, Inc.		761,124		0.2
	28,827		Sandisk Corp.		1,833,974		0.6
	15,161	@	Semtech Corp.		403,965		0.1
	78,481	@	Silicon Graphics International Corp.		682,000		0.2
	25,005		TE Connectivity Ltd.		1,790,858		0.6
	130,363		Teradyne, Inc.		2,457,343		0.8
	22,271	@	VeriFone Holdings, Inc.		777,035		0.2
	31,031		Western Digital Corp.		2,824,131		0.9
					36,233,539		11.3
			Materials: 4.9%
	38,224		Bemis Co., Inc.		1,770,153		0.6
	47,940		Berry Plastics Group, Inc.		1,734,949		0.5
	28,118		Chemtura Corp.		767,340		0.2
	10,100		Compass Minerals International, Inc.		941,421		0.3
	58,100		Graphic Packaging Holding Co.		844,774		0.3
	13,641		Haynes International, Inc.		608,525		0.2
	58,025	L	Horsehead Holding Corp.		734,596		0.2
	13,635		Innophos Holdings, Inc.		768,469		0.2
	14,778		KapStone Paper and Packaging Corp.		485,310		0.1
	15,210	@	LSB Industries, Inc.		628,629		0.2
	39,265		Mosaic Co.		1,808,546		0.6
	35,600		Newmont Mining Corp.		772,876		0.2
	37,828		Nucor Corp.		1,797,965		0.6
	25,127		Sonoco Products Co.		1,142,273		0.4
	43,914		Tronox Ltd. - CL A		892,772		0.3
					15,698,598		4.9
			Telecommunication Services: 1.0%
	57,040		CenturyLink, Inc.		1,970,732		0.6
	33,857		Rogers Communications, Inc.		1,133,423		0.4
					3,104,155		1.0
			Utilities: 7.0%
	12,630		Allete, Inc.		666,359		0.2
	9,762		Artesian Resources Corp.		208,809		0.1
	37,135		Atmos Energy Corp.		2,053,565		0.6
	11,276		Consolidated Edison, Inc.		687,836		0.2
	43,120		Edison International		2,693,706		0.8
	9,020		El Paso Electric Co.		348,533		0.1
	81,047		Great Plains Energy, Inc.		2,162,334		0.7
	72,195		Laclede Group, Inc.		3,697,828		1.2
	27,749		NorthWestern Corp.		1,492,619		0.5
	28,060		OGE Energy Corp.		886,977		0.3
	24,839		Pacific Gas & Electric Co.		1,318,206		0.4
	3,650		Portland General Electric Co.		135,378		0.0
	6,375		South Jersey Industries, Inc.		346,035		0.1
	73,805		Westar Energy, Inc.		2,860,682		0.9
	78,012		Xcel Energy, Inc.		2,715,598		0.9
					22,274,465		7.0
		Total Common Stock
		(Cost $277,769,436)			307,896,946		96.3
EXCHANGE-TRADED FUNDS: 2.5%
	4,500		iShares Russell 2000 Value Index Fund		464,445		0.2
	94,362		iShares Russell Midcap Value Index Fund		7,101,684		2.2
	3,199		iShares S&P SmallCap 600 Index Fund		377,578		0.1
		Total Exchange-Traded Funds
		(Cost $7,671,939)			7,943,707		2.5
PREFERRED STOCK: 0.1%
			Consumer Discretionary: 0.1%
	11,700		Beazer Homes USA, Inc.		314,847		0.1
		Total Preferred Stock
		(Cost $343,473)			314,847		0.1
		Total Long-Term Investments
		(Cost $285,784,848)			316,155,500		98.9

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.7%
		Securities Lending Collateralcc: 1.2%
	1,000,000	Daiwa Capital Markets, Repurchase Agreement dated 03/31/15, 0.18%, due 04/01/15 (Repurchase Amount $1,000,005, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.000%, Market Value plus accrued interest $1,020,000, due 02/15/16-03/01/48)		1,000,000		0.3

VY® American Century Small-Mid Cap Value Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateralcc: (continued)
	963,775	Merrill Lynch & Co., Inc., Repurchase Agreement dated 03/31/15, 0.15%, due 04/01/15 (Repurchase Amount $963,779, collateralized by various U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $983,050, due 06/01/15-04/01/45)	$	963,775		0.3
	1,000,000	Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $1,000,006, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $1,020,000, due 08/15/17-02/15/42)		1,000,000		0.3
	1,000,000	Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $1,000,004, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $1,020,000, due 08/18/15-10/20/64)		1,000,000		0.3
				3,963,775		1.2

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.5%
	4,613,398		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $4,613,398)		4,613,398			1.5
		Total Short-Term Investments
		(Cost $8,577,173)			8,577,173			2.7
		Total Investments in Securities (Cost $294,362,021)		$	324,732,673			101.6
		Liabilities in Excess of Other Assets			(5,068,702	)		(1.6	)
		Net Assets		$	319,663,971			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.
ADR	American Depositary Receipt
cc	Represents securities purchased with cash collateral received for securities on loan.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.

Cost for federal income tax purposes is $296,480,177.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	37,440,212
Gross Unrealized Depreciation		(9,187,716	)
Net Unrealized Appreciation	$	28,252,496

VY® American Century Small-Mid Cap Value Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary	$	31,512,535	$	–	$	–	$	31,512,535
Consumer Staples		17,082,061		632,418		–		17,714,479
Energy		18,212,825		–		–		18,212,825
Financials		93,290,413		–		–		93,290,413
Health Care		27,481,422		–		–		27,481,422
Industrials		39,433,781		2,940,734		–		42,374,515
Information Technology		36,233,539		–		–		36,233,539
Materials		15,698,598		–		–		15,698,598
Telecommunication Services		3,104,155		–		–		3,104,155
Utilities		22,274,465		–		–		22,274,465
Total Common Stock		304,323,794		3,573,152		–		307,896,946
Exchange-Traded Funds		7,943,707		–		–		7,943,707
Preferred Stock		314,847		–		–		314,847
Short-Term Investments		4,613,398		3,963,775		–		8,577,173
Total Investments, at fair value	$	317,195,746	$	7,536,927	$	–	$	324,732,673
Other Financial Instruments+
Forward Foreign Currency Contracts		–		121,116		–		121,116
Total Assets	$	317,195,746	$	7,658,043	$	–	$	324,853,789

+

Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

#

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 Portfolio 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 Portfolio's investments are categorized as Level 2 investments.

At March 31, 2015, the following forward foreign currency contracts were outstanding for VY® American Century Small-Mid Cap Value Portfolio:

Counterparty	Currency	Contract Amount		Buy/Sell	Settlement Date	In Exchange For		Fair Value		Unrealized Appreciation (Depreciation)
Credit Suisse Group AG	Japanese Yen		80,054,399	Sell	04/30/15	$	672,404	$	667,780	$	4,624
JPMorgan Chase & Co.	Canadian Dollar		6,665,105	Sell	04/30/15		5,340,372		5,260,588		79,784
UBS AG	EU Euro		6,018	Sell	04/30/15		6,509		6,473		36
UBS AG	EU Euro		229,275	Sell	04/30/15		249,355		246,624		2,731
UBS AG	EU Euro		2,849,015	Sell	04/30/15		3,098,532		3,064,591		33,941
										$	121,116

VY® American Century Small-Mid Cap Value Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of March 31, 2015 was as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Foreign exchange contracts	Forward foreign currency contracts	$	121,116
Total Asset Derivatives		$	121,116

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at March 31, 2015:

	Credit Suisse Group AG		JPMorgan Chase & Co.		UBS AG		Totals
Assets:
Forward foreign currency contracts	$	4,624	$	79,784	$	36,708	$	121,116
Total Assets		4,624		79,784		36,708		121,116
Total asset derivative instruments subject to master netting agreements (1)	$	-	$	-	$	-	$	-
Liabilities:
Forward foreign currency contracts	$	-	$	-	$	-	$	-
Total Liabilities		-		-		-		-
Total liability derivative instruments subject to master netting agreements (1)	$	-	$	-	$	-	$	-

⁽¹⁾ At March 31, 2015, the Portfolio had not entered into any master netting agreements with its derivative counterparties as disclosed above. As such, the Portfolio did not have any amounts subject to offset.

VY® Baron Growth Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 100.0%
			Consumer Discretionary: 28.1%
	4,004,403	@	AO World PLC	$	10,882,272		1.0
	429,000		Bright Horizons Family Solutions, Inc.		21,994,830		2.1
	92,500	@	BRP, Inc./CA		1,771,051		0.2
	590,000		Choice Hotels International, Inc.		37,801,300		3.5
	100,000		ClubCorp Holdings, Inc.		1,936,000		0.2
	55,150	@	Container Store Group, Inc.		1,050,607		0.1
	13,533	@	Diamond Resorts International, Inc.		452,408		0.1
	525,000		Dick's Sporting Goods, Inc.		29,919,750		2.8
	420,000		Interval Leisure Group, Inc.		11,008,200		1.0
	245,000	@	LKQ Corp.		6,262,200		0.6
	761,383	@	Manchester United PLC - Class A		12,113,604		1.1
	160,000		Marriott Vacations Worldwide Corp.		12,968,000		1.2
	163,000		Morningstar, Inc.		12,210,330		1.1
	187,858	@	Nord Anglia Education, Inc.		4,268,134		0.4
	66,700	@	Panera Bread Co.		10,671,667		1.0
	400,380	@	Penn National Gaming, Inc.		6,269,951		0.6
	593,691	@	Pinnacle Entertainment, Inc.		21,426,308		2.0
	111,803	@	Shutterstock, Inc.		7,677,512		0.7
	505,000		Under Armour, Inc.		40,778,750		3.8
	475,000		Vail Resorts, Inc.		49,124,500		4.6
					300,587,374		28.1
			Consumer Staples: 8.6%
	63,294		Boston Beer Co., Inc.		16,924,815		1.6
	203,500		Church & Dwight Co., Inc.		17,382,970		1.6
	81,788	@	Diplomat Pharmacy, Inc.		2,828,229		0.2
	64,501	@	Smart & Final Stores, Inc.		1,135,218		0.1
	350,000	@	TreeHouse Foods, Inc.		29,757,000		2.8
	317,641	@	United Natural Foods, Inc.		24,471,063		2.3
					92,499,295		8.6
			Energy: 1.9%
	35,000		Core Laboratories NV		3,657,150		0.3
	55,510		Helmerich & Payne, Inc.		3,778,566		0.3
	140,258		Targa Resources Corp.		13,435,314		1.3
					20,871,030		1.9
			Financials: 15.8%
	17,700		Alexander's, Inc.		8,081,466		0.8
	82,000		Alexandria Real Estate Equities, Inc.		8,039,280		0.7
	115,000		American Assets Trust, Inc.		4,977,200		0.5
	80,000		American Campus Communities, Inc.		3,429,600		0.3
	195,000	@	Arch Capital Group Ltd.		12,012,000		1.1
	272,255		Artisan Partners Asset Management, Inc.		12,376,712		1.2
	347,500		Carlyle Group L.P.		9,417,250		0.9
	425,000		Cohen & Steers, Inc.		17,403,750		1.6
	478,000		Douglas Emmett, Inc.		14,249,180		1.3
	297,229		Financial Engines, Inc.		12,433,089		1.2
	504,411		Gaming and Leisure Properties, Inc.		18,597,634		1.7
	175,000		LaSalle Hotel Properties		6,800,500		0.6
	208,000		MSCI, Inc. - Class A		12,752,480		1.2
	160,000		Oaktree Capital Group, LLC		8,265,600		0.8
	390,000		Primerica, Inc.		19,851,000		1.9
					168,686,741		15.8
			Health Care: 9.1%
	105,000		Bio-Techne Corp.		10,530,450		1.0
	67,000	@	Brookdale Senior Living, Inc.		2,529,920		0.2
	412,000	@	Community Health Systems, Inc.		21,539,360		2.0
	39,000	@	Edwards Lifesciences Corp.		5,555,940		0.5
	58,326	@	Foundation Medicine, Inc.		2,806,064		0.3
	122,200	@	Idexx Laboratories, Inc.		18,877,456		1.8
	73,000		Mettler Toledo International, Inc.		23,991,450		2.3
	47,008	@	Neogen Corp.		2,196,684		0.2
	146,956		West Pharmaceutical Services, Inc.		8,848,220		0.8
					96,875,544		9.1
			Industrials: 16.5%
	335,000		Air Lease Corp.		12,642,900		1.2
	180,712		Badger Daylighting Ltd		3,858,081		0.4
	247,000		Colfax Corp.		11,789,310		1.1
	335,000	@	Copart, Inc.		12,585,950		1.2
	157,000	@	CoStar Group, Inc.		31,059,310		2.9
	372,500	@	Generac Holdings, Inc.		18,137,025		1.7
	315,000	@	Genesee & Wyoming, Inc.		30,378,600		2.8
	60,000		Landstar System, Inc.		3,978,000		0.4
	318,000		Middleby Corp.		32,642,700		3.0
	105,000		MSC Industrial Direct Co.		7,581,000		0.7
	100,000		Trex Co., Inc.		5,453,000		0.5
	50,000		Valmont Industries, Inc.		6,144,000		0.6
					176,249,876		16.5
			Information Technology: 15.1%
	239,000	@	Ansys, Inc.		21,077,410		2.0
	298,399	@	Benefitfocus, Inc.		10,978,099		1.0
	506,500		Booz Allen Hamilton Holding Corp.		14,658,110		1.4
	104,000		Bottomline Technologies, Inc.		2,846,480		0.3
	85,000		Factset Research Systems, Inc.		13,532,000		1.3
	400,200	@	Gartner, Inc.		33,556,770		3.1
	165,000		Guidewire Software, Inc.		8,680,650		0.8
	400,000		MAXIMUS, Inc.		26,704,000		2.5

VY® Baron Growth Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	238,655		Pegasystems, Inc.	$	5,190,747			0.5
	385,000		SS&C Technologies Holdings, Inc.		23,985,500			2.2
					161,209,766			15.1
			Materials: 2.4%
	425,000		Caesar Stone Sdot Yam Ltd.		25,801,750			2.4
			Telecommunication Services: 0.8%
	921,311	@	Iridium Communications, Inc.		8,945,930			0.8
			Utilities: 1.7%
	480,000		ITC Holdings Corp.		17,966,400			1.7
		Total Common Stock
		(Cost $485,979,755)			1,069,693,706			100.0
SHORT-TERM INVESTMENTS: 0.1%
			Mutual Funds: 0.1%
	597,240		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $597,240)		597,240			0.1
		Total Short-Term Investments
		(Cost $597,240)			597,240			0.1
		Total Investments in Securities (Cost $486,576,995)		$	1,070,290,946			100.1
		Liabilities in Excess of Other Assets			(616,660	)		(0.1	)
		Net Assets		$	1,069,674,286			100.0

††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.

Cost for federal income tax purposes is $487,987,262.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	592,659,398
Gross Unrealized Depreciation		(10,355,714	)
Net Unrealized Appreciation	$	582,303,684

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock*	$	1,069,693,706	$	–	$	–	$	1,069,693,706

VY® Baron Growth Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2015
Short-Term Investments	$	597,240	$	–	$	–	$	597,240
Total Investments, at fair value	$	1,070,290,946	$	–	$	–	$	1,070,290,946

* For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

VY® Columbia Contrarian Core Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage  of Net Assets
COMMON STOCK: 99.4%
			Consumer Discretionary: 12.3%
	67,077		ARAMARK Holdings Corp.	$	2,121,645		0.6
	91,125		CBS Corp. - Class B		5,524,909		1.6
	173,947		Comcast Corp. – Class A		9,822,787		2.8
	77,678		Delphi Automotive PLC		6,194,043		1.7
	19,629		Hilton Worldwide Holdings, Inc.		581,411		0.2
	58,900		Las Vegas Sands Corp.		3,241,856		0.9
	62,774		Lowe's Cos, Inc.		4,669,758		1.3
	19,095		McDonald's Corp.		1,860,617		0.5
	84,297	@	Michaels Cos, Inc.		2,281,077		0.6
	7,881	@	Mohawk Industries, Inc.		1,463,896		0.4
	3,200	@	Priceline.com, Inc.		3,725,280		1.1
	63,475		Twenty-First Century Fox, Inc. - Class A		2,147,994		0.6
					43,635,273		12.3
			Consumer Staples: 8.1%
	99,746		CVS Caremark Corp.		10,294,785		2.9
	31,295		Diageo PLC ADR		3,460,288		1.0
	11,145		Nu Skin Enterprises, Inc.		671,041		0.2
	55,328		PepsiCo, Inc.		5,290,463		1.5
	54,810		Philip Morris International, Inc.		4,128,837		1.1
	32,702		Procter & Gamble Co.		2,679,602		0.7
	28,312		Walgreens Boots Alliance, Inc.		2,397,460		0.7
					28,922,476		8.1
			Energy: 6.7%
	84,797		Canadian Natural Resources Ltd.		2,604,116		0.7
	72,981		Chevron Corp.		7,661,545		2.2
	22,037		ConocoPhillips		1,372,024		0.4
	35,812		Halliburton Co.		1,571,431		0.4
	46,425		Noble Energy, Inc.		2,270,182		0.6
	33,985		Range Resources Corp.		1,768,579		0.5
	32,925		Schlumberger Ltd.		2,747,262		0.8
	75,515		Williams Cos., Inc.		3,820,304		1.1
					23,815,443		6.7
			Financials: 19.4%
	66,415		American Express Co.		5,188,340		1.5
	51,258		Aon PLC		4,926,919		1.4
	469,438		Bank of America Corp.		7,224,651		2.0
	44,567	@	Berkshire Hathaway, Inc. – Class B		6,431,909		1.8
	23,089		Blackrock, Inc.		8,446,880		2.4
	277,961		Citigroup, Inc.		14,320,551		4.0
	26,669		Goldman Sachs Group, Inc.		5,012,972		1.4
	180,108		JPMorgan Chase & Co.		10,910,942		3.1
	36,075		Rayonier, Inc.		972,582		0.3
	99,860		Wells Fargo & Co.		5,432,384		1.5
					68,868,130		19.4
			Health Care: 15.3%
	133,180		Abbott Laboratories		6,170,229		1.7
	12,175	@	Biogen, Inc.		5,140,772		1.5
	43,240		Cardinal Health, Inc.		3,903,275		1.1
	53,399		Celgene Corp.		6,155,837		1.7
	33,963		Cigna Corp.		4,396,171		1.2
	75,434		Johnson & Johnson		7,588,660		2.1
	144,458		Medtronic PLC		11,266,279		3.2
	21,246		Perrigo Co. PLC		3,517,275		1.0
	48,824		St. Jude Medical, Inc.		3,193,090		0.9
	26,549	@	Vertex Pharmaceuticals, Inc.		3,131,986		0.9
					54,463,574		15.3
			Industrials: 12.4%
	20,393		Dun & Bradstreet Corp.		2,617,645		0.7
	15,471		FedEx Corp.		2,559,677		0.7
	39,499		Fortune Brands Home & Security, Inc.		1,875,413		0.5
	268,620		General Electric Co.		6,664,462		1.9
	87,897		Honeywell International, Inc.		9,168,536		2.6
	15,865	@	IHS, Inc.		1,804,802		0.5
	27,832		Kansas City Southern		2,841,091		0.8
	117,610		Nielsen Holdings NV		5,241,878		1.5
	8,325		Precision Castparts Corp.		1,748,250		0.5
	92,467		Tyco International Plc		3,981,629		1.1
	46,940		United Technologies Corp.		5,501,368		1.6
					44,004,751		12.4
			Information Technology: 20.1%
	219,260		Activision Blizzard, Inc.		4,982,683		1.4
	23,560	@	Alibaba Group Holding Ltd. ADR		1,961,134		0.6
	127,091		Apple, Inc.		15,813,933		4.4
	73,007		Broadcom Corp.		3,160,838		0.9
	62,354	@	Electronic Arts, Inc.		3,667,351		1.0
	129,519		EMC Corp.		3,310,506		0.9
	7,553		Google, Inc. - Class A		4,189,649		1.2
	15,971		Google, Inc. - Class C		8,752,108		2.5
	36,188		Hewlett-Packard Co.		1,127,618		0.3
	28,351		Intuit, Inc.		2,748,913		0.8
	78,150		Mastercard, Inc.		6,751,378		1.9
	190,955		Microsoft Corp.		7,763,276		2.2
	67,003		Qualcomm, Inc.		4,645,988		1.3
	26,148		Skyworks Solutions, Inc.		2,570,087		0.7
					71,445,462		20.1
			Materials: 2.4%
	47,760		LyondellBasell Industries NV - Class A		4,193,328		1.2
	37,855		Monsanto Co.		4,260,202		1.2
					8,453,530		2.4
			Telecommunication Services: 2.7%
	200,657		Verizon Communications, Inc.		9,757,950		2.7
		Total Common Stock (Cost $304,785,869)			353,366,589		99.4

VY® Columbia Contrarian Core Portfolio  PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage  of Net Assets
CORPORATE BONDS/NOTES: –%
			Materials: –%
	649,000		SINO Forest Corp. Escrow	$	–		–
		Total Corporate Bonds/Notes (Cost $–)			–		–
		Total Investments in Securities (Cost $304,785,869)		$	353,366,589		99.4
		Assets in Excess of Other Liabilities			2,029,698		0.6
		Net Assets		$	355,396,287		100.0

†	Unless otherwise indicated, principal amount is shown in USD.
@	Non-income producing security.
ADR	American Depositary Receipt
	Cost for federal income tax purposes is $305,082,312.
	Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	53,443,927
Gross Unrealized Depreciation		(5,159,650	)
Net Unrealized Appreciation	$	48,284,277

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock*	$	353,366,589	$	–	$	–	$	353,366,589
Corporate Bonds/Notes		–		–		–		–
Total Investments, at fair value	$	353,366,589	$	–	$	–	$	353,366,589

* For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

	PORTFOLIO OF INVESTMENTS
VY® Columbia Small Cap Value II Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 98.8%
			Consumer Discretionary: 14.5%
	103,000	@	American Axle & Manufacturing Holdings, Inc.	$	2,660,490		1.1
	128,000		American Eagle Outfitters		2,186,240		0.9
	61,000		Bloomin Brands, Inc.		1,484,130		0.6
	30,000		Childrens Place Retail Stores, Inc.		1,925,700		0.8
	40,000		Dave & Buster's Entertainment, Inc.		1,218,400		0.5
	38,000	@	Helen of Troy Ltd.		3,096,620		1.3
	70,400		KB Home		1,099,648		0.4
	53,961	@	Media General, Inc.		863,376		0.4
	113,000	@	Nord Anglia Education, Inc.		2,567,360		1.1
	117,000	@	Office Depot, Inc.		1,076,400		0.4
	87,000	@	Penn National Gaming, Inc.		1,362,420		0.6
	20,500	@	Red Robin Gourmet Burgers, Inc.		1,783,500		0.7
	32,000		Ryland Group, Inc.		1,559,680		0.6
	38,000		Sinclair Broadcast Group, Inc.		1,193,580		0.5
	34,000	@	Skechers USA, Inc.		2,444,940		1.0
	57,000		Sonic Automotive, Inc.		1,419,300		0.6
	45,000		Sonic Corp.		1,426,500		0.6
	40,000	@	Tenneco, Inc.		2,296,800		0.9
	63,857	@	Tower International, Inc.		1,698,596		0.7
	112,000	@	Travelcenters of America LLC		1,953,280		0.8
					35,316,960		14.5
			Consumer Staples: 1.4%
	20,000		Nu Skin Enterprises, Inc.		1,204,200		0.5
	13,211		SpartanNash Co.		416,939		0.2
	21,500	@	TreeHouse Foods, Inc.		1,827,930		0.7
					3,449,069		1.4
			Energy: 5.4%
	100,000		Aegean Marine Petroleum Network, Inc.		1,437,000		0.6
	48,000		Delek US Holdings, Inc.		1,908,000		0.8
	42,000	@	Gulfport Energy Corp.		1,928,220		0.8
	73,000	@	Helix Energy Solutions Group, Inc.		1,092,080		0.4
	77,000	@	Matador Resources Co.		1,687,840		0.7
	108,000		Patterson-UTI Energy, Inc.		2,027,700		0.8
	39,000	@	PDC Energy, Inc.		2,107,560		0.9
	160,000		Teekay Tankers Ltd.		918,400		0.4
					13,106,800		5.4
			Financials: 34.5%
	68,500		American Assets Trust, Inc.		2,964,680		1.2
	87,000		American Equity Investment Life Holding Co.		2,534,310		1.0
	59,000		Ameris Bancorp.		1,557,010		0.6
	72,300		Amerisafe, Inc.		3,343,875		1.4
	43,093		Amtrust Financial Services, Inc.		2,455,655		1.0
	50,354		Argo Group International Holdings Ltd.		2,525,253		1.0
	34,000		Bank of the Ozarks, Inc.		1,255,620		0.5
	116,300		Brandywine Realty Trust		1,858,474		0.8
	46,000		Chatham Lodging Trust		1,352,860		0.6
	75,000		CNO Financial Group, Inc.		1,291,500		0.5
	71,100		Community Bank System, Inc.		2,516,229		1.0
	97,000		CubeSmart		2,342,550		1.0
	53,000		Customers Bancorp, Inc.		1,291,080		0.5
	120,000		EverBank Financial Corp.		2,163,600		0.9
	54,000		First American Financial Corp.		1,926,720		0.8
	69,000		First Industrial Realty Trust, Inc.		1,478,670		0.6
	95,000		FirstMerit Corp.		1,810,700		0.8
	49,000		Highwoods Properties, Inc.		2,243,220		0.9
	75,500	@	Hilltop Holdings, Inc.		1,467,720		0.6
	65,000		Independent Bank Corp.		2,851,550		1.2
	36,800		Kilroy Realty Corp.		2,803,056		1.2
	40,500		LaSalle Hotel Properties		1,573,830		0.7
	91,000		Medley Capital Corp.		832,650		0.4
	121,000	@	MGIC Investment Corp.		1,165,230		0.5
	65,000	@	PHH Corp.		1,571,050		0.7
	80,200		PrivateBancorp, Inc.		2,820,634		1.2
	35,000		Prosperity Bancshares, Inc.		1,836,800		0.8
	55,530		QTS Realty Trust, Inc.		2,021,847		0.8
	120,600		Radian Group, Inc.		2,024,874		0.8
	91,000		Renasant Corp.		2,734,550		1.1
	49,720		RLJ Lodging Trust		1,556,733		0.6
	83,000		Sandy Spring Bancorp, Inc.		2,177,090		0.9
	205,000		Sterling Bancorp/DE		2,749,050		1.1
	117,000		Symetra Financial Corp.		2,744,820		1.1
	33,700		The Geo Group, Inc.		1,474,038		0.6
	37,600		TriplePoint Venture Growth BDC Corp.		530,536		0.2
	139,000		Umpqua Holdings Corp.		2,388,020		1.0
	98,000		Union Bankshares Corp.		2,176,580		0.9
	107,000	@	Western Alliance Bancorp.		3,171,480		1.3
	203,800		Wilshire Bancorp., Inc.		2,031,886		0.8
	47,000		Wintrust Financial Corp.		2,240,960		0.9
					83,856,990		34.5
			Health Care: 9.2%
	96,000		Catalent, Inc.		2,990,400		1.2
	85,000	@	Globus Medical Inc		2,145,400		0.9
	101,370	@	Healthways, Inc.		1,996,989		0.8
	100,000		Kindred Healthcare, Inc.		2,379,000		1.0
	60,000	@	LHC Group, Inc.		1,981,800		0.8
	34,500	@	LifePoint Hospitals, Inc.		2,534,025		1.0
	75,400		MedAssets, Inc.		1,419,028		0.6

	PORTFOLIO OF INVESTMENTS
VY® Columbia Small Cap Value II Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	14,500	@	Parexel International Corp.	$	1,000,355			0.4
	95,000	@	PharMerica Corp.		2,678,050			1.1
	60,000	@	VCA, Inc.		3,289,200			1.4
					22,414,247			9.2
			Industrials: 11.7%
	21,000		Alaska Air Group, Inc.		1,389,780			0.6
	44,500		Deluxe Corp.		3,082,960			1.3
	44,000		EMCOR Group, Inc.		2,044,680			0.8
	64,400		Heartland Express, Inc.		1,530,144			0.6
	111,000	@	JetBlue Airways Corp.		2,136,750			0.9
	106,132	@	Neff Corp.		1,118,631			0.5
	62,500	@	On Assignment, Inc.		2,398,125			1.0
	74,000		Steelcase, Inc.		1,401,560			0.6
	82,000		Swift Transportation Co.		2,133,640			0.9
	66,000		Trinity Industries, Inc.		2,343,660			1.0
	64,500	@	TrueBlue, Inc.		1,570,575			0.6
	75,000	@	Tutor Perini Corp.		1,751,250			0.7
	35,000		United Stationers, Inc.		1,434,650			0.6
	125,000	@	Wabash National Corp.		1,762,500			0.7
	69,000		West Corp.		2,327,370			0.9
					28,426,275			11.7
			Information Technology: 9.8%
	115,000	@	Endurance International Group Holdings, Inc.		2,191,900			0.9
	112,000		Fairchild Semiconductor International, Inc.		2,036,160			0.8
	68,400	@	II-VI, Inc.		1,262,664			0.5
	94,000	@	Integrated Device Technology, Inc.		1,881,880			0.8
	57,000		Integrated Silicon Solution, Inc.		1,019,730			0.4
	139,600		IXYS Corp.		1,719,872			0.7
	165,000	@	Kulicke & Soffa Industries, Inc.		2,578,950			1.1
	105,500		Mentor Graphics Corp.		2,535,165			1.0
	138,300		Micrel, Inc.		2,085,564			0.9
	26,400	@	Rogers Corp.		2,170,344			0.9
	77,000	@	SunEdison, Inc.		1,848,000			0.8
	40,000		Super Micro Computer, Inc.		1,328,400			0.5
	47,900	@	Unisys Corp.		1,111,759			0.5
					23,770,388			9.8
			Materials: 7.3%
	178,000	@	AK Steel Holding Corp.		795,660			0.3
	37,500		Axiall Corp.		1,760,250			0.7
	47,000		Boise Cascade Co.		1,760,620			0.7
	25,000		Carpenter Technology Corp.		972,000			0.4
	31,000	@	Clearwater Paper Corp.		2,024,300			0.9
	87,000	@	Constellium NV  - Class A		1,767,840			0.7
	57,000		KapStone Paper and Packaging Corp.		1,871,880			0.8
	56,900		Materion Corp.		2,186,667			0.9
	46,500		Neenah Paper, Inc.		2,908,110			1.2
	90,393		Orion Engineered Carbons SA		1,627,074			0.7
					17,674,401			7.3
			Utilities: 5.0%
	72,500		Avista Corp.		2,478,050			1.0
	38,000		Dynegy, Inc.		1,194,340			0.5
	82,000		New Jersey Resources Corp.		2,546,920			1.0
	36,000		South Jersey Industries, Inc.		1,954,080			0.8
	28,200		Southwest Gas Corp.		1,640,394			0.7
	17,178		TerraForm Power, Inc.		627,169			0.3
	33,000		UIL Holdings Corp.		1,696,860			0.7
					12,137,813			5.0
		Total Common Stock
		(Cost $191,169,704)			240,152,943			98.8
SHORT-TERM INVESTMENTS: 1.4%
			Mutual Funds: 1.4%
	3,455,341		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $3,455,341)		3,455,341			1.4
		Total Short-Term Investments
		(Cost $3,455,341)			3,455,341			1.4
		Total Investments in Securities (Cost $194,625,045)		$	243,608,284			100.2
		Liabilities in Excess of Other Assets			(475,652	)		(0.2	)
		Net Assets		$	243,132,632			100.0

††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.

Cost for federal income tax purposes is $194,989,465.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	52,802,073
Gross Unrealized Depreciation		(4,183,254	)
Net Unrealized Appreciation	$	48,618,819

	PORTFOLIO OF INVESTMENTS
VY® Columbia Small Cap Value II Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock*	$	240,152,943	$	–	$	–	$	240,152,943
Short-Term Investments		3,455,341		–		–		3,455,341
Total Investments, at fair value	$	243,608,284	$	–	$	–	$	243,608,284

* For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

	PORTFOLIO OF INVESTMENTS
VY® Fidelity® VIP Contrafund® Portfolio	as of March 31, 2015 (Unaudited)

Shares			Value		Percentage of Net Assets
Master Fund: 99.9%
	8,575,564	Fidelity VIP Contrafund Portfolio	$	295,599,692		99.9
		Total Investments in Master Fund
		(Cost $188,836,707)	$	295,599,692		99.9
		Assets in Excess of Other Liabilities		280,968		0.1
		Net Assets	$	295,880,660		100.0

Cost for federal income tax purposes is $234,441,457.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	61,158,235
Gross Unrealized Depreciation		–
Net Unrealized Appreciation	$	61,158,235

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Master Fund	$	295,599,692	$	–	$	–	$	295,599,692
Total Investments, at fair value	$	295,599,692	$	–	$	–	$	295,599,692

	PORTFOLIO OF INVESTMENTS
VY® Fidelity® VIP Equity-Income Portfolio	as of March 31, 2015 (Unaudited)

Shares			Value		Percentage of Net Assets
Master Fund: 99.9%
	569,755	Fidelity VIP Equity-Income Portfolio	$	12,403,559		99.9
		Total Investments in Master Fund
		(Cost $11,786,933)	$	12,403,559		99.9
		Assets in Excess of Other Liabilities		7,051		0.1
		Net Assets	$	12,410,610		100.0

Cost for federal income tax purposes is $13,347,621.

Net unrealized depreciation consists of:

Gross Unrealized Appreciation	$	–
Gross Unrealized Depreciation		(944,062	)
Net Unrealized Depreciation	$	(944,062	)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Master Fund	$	12,403,559	$	–	$	–	$	12,403,559
Total Investments, at fair value	$	12,403,559	$	–	$	–	$	12,403,559

	PORTFOLIO OF INVESTMENTS
VY® Fidelity® VIP Mid Cap Portfolio	as of March 31, 2015 (Unaudited)

Shares			Value		Percentage of Net Assets
Master Fund: 99.8%
	1,142,365	Fidelity VIP Mid Cap Portfolio	$	39,034,602		99.8
		Total Investments in Master Fund
		(Cost $35,827,644)	$	39,034,602		99.8
		Assets in Excess of Other Liabilities		68,777		0.2
		Net Assets	$	39,103,379		100.0

Cost for federal income tax purposes is $38,241,254.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	793,348
Gross Unrealized Depreciation		–
Net Unrealized Appreciation	$	793,348

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Master Fund	$	39,034,602	$	–	$	–	$	39,034,602
Total Investments, at fair value	$	39,034,602	$	–	$	–	$	39,034,602

VY® Invesco Comstock Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 98.1%
			Consumer Discretionary: 17.6%
	274,561		Carnival Corp.	$	13,134,998		2.4
	47,865		CBS Corp. - Class B		2,902,055		0.5
	144,512		Comcast Corp. – Class A		8,160,593		1.5
	26,894	@	Fossil Group, Inc.		2,217,410		0.4
	287,235		General Motors Co.		10,771,312		2.0
	210,772		Johnson Controls, Inc.		10,631,340		1.9
	135,638		Kohl's Corp.		10,613,674		1.9
	105,972		Newell Rubbermaid, Inc.		4,140,326		0.8
	81,076		Target Corp.		6,653,907		1.2
	48,852		Time Warner Cable, Inc.		7,321,938		1.3
	44,966		Time Warner, Inc.		3,796,929		0.7
	216,850		Twenty-First Century Fox, Inc. Class B		7,130,028		1.3
	138,231		Viacom - Class B		9,441,177		1.7
					96,915,687		17.6
			Consumer Staples: 4.3%
	260,835		ConAgra Foods, Inc.		9,528,303		1.7
	29,650		CVS Caremark Corp.		3,060,176		0.6
	112,969		Mondelez International, Inc.		4,077,051		0.7
	82,564		Unilever NV ADR		3,447,873		0.6
	45,050		Wal-Mart Stores, Inc.		3,705,362		0.7
					23,818,765		4.3
			Energy: 15.7%
	262,310		BP PLC ADR		10,258,944		1.9
	59,037		Chevron Corp.		6,197,704		1.1
	108,251		Devon Energy Corp.		6,528,618		1.2
	128,398		Halliburton Co.		5,634,104		1.0
	50,353		Hess Corp.		3,417,458		0.6
	136,278		Murphy Oil Corp.		6,350,555		1.1
	225,466		Noble Corp. PLC		3,219,654		0.6
	68,637		Occidental Petroleum Corp.		5,010,501		0.9
	240,150		QEP Resources, Inc.		5,007,128		0.9
	192,305		Royal Dutch Shell PLC - Class A ADR		11,470,993		2.1
	427,439		Suncor Energy, Inc.		12,502,591		2.3
	885,319	@	Weatherford International PLC		10,889,424		2.0
					86,487,674		15.7
			Financials: 25.2%
	87,888		Aflac, Inc.		5,625,711		1.0
	101,128		Allstate Corp.		7,197,280		1.3
	701,623		Bank of America Corp.		10,797,978		2.0
	208,991		Bank of New York Mellon Corp.		8,409,798		1.5
	488,218		Citigroup, Inc.		25,152,991		4.6
	129,570		Citizens Financial Group, Inc.		3,126,524		0.6
	316,562		Fifth Third Bancorp		5,967,194		1.1
	29,279		Goldman Sachs Group, Inc.		5,503,573		1.0
	301,460		JPMorgan Chase & Co.		18,262,447		3.3
	156,883		Metlife, Inc.		7,930,436		1.4
	259,192		Morgan Stanley		9,250,562		1.7
	98,009		PNC Financial Services Group, Inc.		9,138,359		1.6
	127,993		State Street Corp.		9,411,325		1.7
	51,107		US Bancorp		2,231,843		0.4
	202,557		Wells Fargo & Co.		11,019,101		2.0
					139,025,122		25.2
			Health Care: 12.8%
	75,462		AbbVie, Inc.		4,417,545		0.8
	47,883		Anthem, Inc.		7,393,614		1.3
	66,110		Bristol-Myers Squibb Co.		4,264,095		0.8
	53,128	@	Express Scripts Holding Co.		4,609,917		0.8
	49,883		GlaxoSmithKline PLC ADR		2,302,100		0.4
	52,919		Medtronic PLC		4,127,153		0.7
	196,473		Merck & Co., Inc.		11,293,268		2.1
	100,893		Novartis AG		9,958,188		1.8
	280,768		Pfizer, Inc.		9,767,919		1.8
	137,605		Roche Holding AG ADR		4,730,860		0.9
	156,661		Sanofi-Aventis SA ADR		7,745,320		1.4
					70,609,979		12.8
			Industrials: 7.2%
	98,382		Emerson Electric Co.		5,570,389		1.0
	572,769		General Electric Co.		14,210,399		2.6
	43,559		Honeywell International, Inc.		4,543,639		0.8
	105,293		Ingersoll-Rand PLC - Class A		7,168,348		1.3
	178,579		Textron, Inc.		7,916,407		1.5
					39,409,182		7.2
			Information Technology: 12.4%
	32,136	@	Autodesk, Inc.		1,884,455		0.4
	405,960		Cisco Systems, Inc.		11,174,049		2.0
	99,318	@	Citrix Systems, Inc.		6,343,441		1.2
	184,474		Corning, Inc.		4,183,870		0.8
	174,412	@	eBay, Inc.		10,060,084		1.8
	237,243		Hewlett-Packard Co.		7,392,492		1.3
	173,874		Intel Corp.		5,437,040		1.0
	165,610		Microsoft Corp.		6,732,875		1.2
	109,768		NetApp, Inc.		3,892,373		0.7
	345,854		Symantec Corp.		8,080,879		1.5
	66,939	@	Yahoo!, Inc.		2,974,434		0.5
					68,155,992		12.4
			Materials: 1.7%
	298,446		Alcoa, Inc.		3,855,922		0.7
	100,207		International Paper Co.		5,560,487		1.0
					9,416,409		1.7
			Telecommunication Services: 0.3%
	226,472		Frontier Communications Corp.		1,596,628		0.3
			Utilities: 0.9%
	74,560		FirstEnergy Corp.		2,614,074		0.5

VY® Invesco Comstock Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Utilities: (continued)
	41,584		Pacific Gas & Electric Co.	$	2,206,863			0.4
					4,820,937			0.9
		Total Common Stock
		(Cost $425,049,140)			540,256,375			98.1
SHORT-TERM INVESTMENTS: 2.1%
			Mutual Funds: 2.1%
	11,607,643		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $11,607,643)		11,607,643			2.1
		Total Short-Term Investments
		(Cost $11,607,643)			11,607,643			2.1
		Total Investments in Securities (Cost $436,656,783)		$	551,864,018			100.2
		Liabilities in Excess of Other Assets			(944,147	)		(0.2	)
		Net Assets		$	550,919,871			100.0

††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.
ADR	American Depositary Receipt

Cost for federal income tax purposes is $451,846,286.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	126,917,544
Gross Unrealized Depreciation		(26,899,812	)
Net Unrealized Appreciation	$	100,017,732

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary	$	96,915,687	$	–	$	–	$	96,915,687
Consumer Staples		23,818,765		–		–		23,818,765
Energy		86,487,674		–		–		86,487,674
Financials		139,025,122		–		–		139,025,122
Health Care		60,651,791		9,958,188		–		70,609,979
Industrials		39,409,182		–		–		39,409,182
Information Technology		68,155,992		–		–		68,155,992
Materials		9,416,409		–		–		9,416,409
Telecommunication Services		1,596,628		–		–		1,596,628
Utilities		4,820,937		–		–		4,820,937
Total Common Stock		530,298,187		9,958,188		–		540,256,375
Short-Term Investments		11,607,643		–		–		11,607,643
Total Investments, at fair value	$	541,905,830	$	9,958,188	$	–	$	551,864,018

VY® Invesco Comstock Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2015
Other Financial Instruments+
Forward Foreign Currency Contracts		–		101,797			–		101,797
Total Assets	$	541,905,830	$	10,059,985		$	–	$	551,965,815
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts	$	–	$	(890,677	)	$	–	$	(890,677	)
Total Liabilities	$	–	$	(890,677	)	$	–	$	(890,677	)

+

Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

#

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 Portfolio 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 Portfolio's investments are categorized as Level 2 investments.

At March 31, 2015, the following forward foreign currency contracts were outstanding for VY® Invesco Comstock Portfolio:

Counterparty	Currency	Contract Amount		Buy/Sell	Settlement Date	In Exchange For		Fair Value		Unrealized Appreciation (Depreciation)
Barclays Bank PLC	British Pound		344,259	Buy	04/13/15	$	513,161	$	510,632	$	(2,529	)
CIBC World Markets	Canadian Dollar		949,087	Buy	04/13/15		748,515		749,246		731
Goldman Sachs & Co.	EU Euro		1,587,089	Buy	04/13/15		1,685,965		1,706,774		20,809
										$	19,011
Barclays Bank PLC	EU Euro		4,126,757	Sell	04/13/15	$	4,366,340	$	4,437,960	$	(71,620	)
Barclays Bank PLC	Canadian Dollar		3,495,439	Sell	04/13/15		2,737,216		2,759,436		(22,220	)
Barclays Bank PLC	Swiss Franc		2,921,098	Sell	04/13/15		2,900,447		3,007,249		(106,802	)
Barclays Bank PLC	British Pound		1,831,206	Sell	04/13/15		2,736,353		2,716,192		20,161
CIBC World Markets	Canadian Dollar		3,495,332	Sell	04/13/15		2,737,143		2,759,351		(22,208	)
CIBC World Markets	Swiss Franc		2,921,184	Sell	04/13/15		2,901,742		3,007,337		(105,595	)
CIBC World Markets	British Pound		1,831,206	Sell	04/13/15		2,736,188		2,716,192		19,996
CIBC World Markets	EU Euro		4,126,819	Sell	04/13/15		4,366,195		4,438,027		(71,832	)
Deutsche Bank AG	Swiss Franc		396,303	Sell	04/13/15		395,528		407,991		(12,463	)
Deutsche Bank AG	British Pound		1,831,206	Sell	04/13/15		2,736,499		2,716,192		20,307
Deutsche Bank AG	Canadian Dollar		3,495,439	Sell	04/13/15		2,737,399		2,759,436		(22,037	)
Deutsche Bank AG	EU Euro		4,126,757	Sell	04/13/15		4,364,665		4,437,961		(73,296	)
Deutsche Bank AG	Swiss Franc		2,921,097	Sell	04/13/15		2,902,088		3,007,247		(105,159	)
Goldman Sachs & Co.	Swiss Franc		2,921,097	Sell	04/13/15		2,901,584		3,007,248		(105,664	)
Goldman Sachs & Co.	EU Euro		4,126,757	Sell	04/13/15		4,364,343		4,437,961		(73,618	)
Goldman Sachs & Co.	British Pound		1,831,206	Sell	04/13/15		2,735,985		2,716,192		19,793
Goldman Sachs & Co.	Canadian Dollar		3,495,439	Sell	04/13/15		2,736,974		2,759,436		(22,462	)
The Royal Bank of Canada	EU Euro		4,126,757	Sell	04/13/15		4,364,788		4,437,960		(73,172	)
										$	(807,891	)

VY® Invesco Comstock Portfolio PORTFOLIO OF INVESTMENTS as of March 31, 2015 (Unaudited) (Continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of March 31, 2015 was as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Foreign exchange contracts	Forward foreign currency contracts	$	101,797
Total Asset Derivatives		$	101,797
Liability Derivatives	Instrument Type
Foreign exchange contracts	Forward foreign currency contracts	$	890,677
Total Liability Derivatives		$	890,677

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at March 31, 2015:

	Barclays Bank PLC			CIBC World Markets			Deutsche Bank AG			Goldman Sachs & Co.			Royal Bank of Canada			Totals
Assets:
Forward foreign currency contracts	$	20,161		$	20,727		$	20,307		$	40,602		$	-		$	101,797
Total Assets	$	20,161		$	20,727		$	20,307		$	40,602		$	-		$	101,797
Liabilities:
Forward foreign currency contracts	$	203,171		$	199,635		$	212,955		$	201,744		$	73,172		$	890,677
Total Liabilities	$	203,171		$	199,635		$	212,955		$	201,744		$	73,172		$	890,677
Net OTC derivative instruments by counterparty, at fair value	$	(183,010	)	$	(178,908	)	$	(192,648	)	$	(161,142	)	$	(73,172	)	$	(788,880	)
Total collateral pledged by the Portfolio/(Received from counterparty)	$	-		$	-		$	-		$	-		$	-		$	-
Net Exposure(1)	$	(183,010	)	$	(178,908	)	$	(192,648	)	$	(161,142	)	$	(73,172	)	$	(788,880	)

⁽¹⁾ Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio.

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 64.4%
			Consumer Discretionary: 6.8%
	504,401		Carnival Corp.	$	24,130,544		1.2
	63,365		CBS Corp. - Class B		3,841,820		0.2
	411,065		Comcast Corp. – Class A		23,212,841		1.1
	473,731		General Motors Co.		17,764,912		0.8
	333,472		Target Corp.		27,368,047		1.3
	285,120	L	Thomson Reuters Corp.		11,559,679		0.5
	97,304		Time Warner Cable, Inc.		14,583,924		0.7
	116,582		Time Warner, Inc.		9,844,184		0.5
	138,955		Viacom - Class B		9,490,626		0.5
					141,796,577		6.8
			Consumer Staples: 4.7%
	327,092		Archer-Daniels-Midland Co.		15,504,161		0.7
	459,805		Mondelez International, Inc.		16,594,363		0.8
	191,786		Philip Morris International, Inc.		14,447,239		0.7
	198,379		Procter & Gamble Co.		16,255,175		0.8
	282,874		Unilever NV ADR		11,812,818		0.6
	276,721		Wal-Mart Stores, Inc.		22,760,302		1.1
					97,374,058		4.7
			Energy: 6.6%
	139,531		Anadarko Petroleum Corp.		11,554,562		0.6
	255,749		Apache Corp.		15,429,337		0.7
	285,227		Baker Hughes, Inc.		18,134,733		0.9
	411,231	L	Canadian Natural Resources Ltd.		12,604,309		0.6
	290,168		Ensco PLC		6,113,840		0.3
	154,536		ExxonMobil Corp.		13,135,560		0.6
	159,890		Occidental Petroleum Corp.		11,671,970		0.6
	1,065,067		Royal Dutch Shell PLC - Class A		31,671,855		1.5
	336,375		Total S.A.		16,720,130		0.8
					137,036,296		6.6
			Financials: 19.0%
	152,667		Aon PLC		14,674,352		0.7
	1,936,750		Bank of America Corp.		29,806,583		1.4
	315,651		BB&T Corp.		12,307,233		0.6
	551,392		Charles Schwab Corp.		16,784,372		0.8
	1,199,304		Citigroup, Inc.		61,788,142		3.0
	657,190		Citizens Financial Group, Inc.		15,857,995		0.8
	100,933		CME Group, Inc.		9,559,364		0.5
	299,978		Comerica, Inc.		13,538,007		0.7
	657,872		Fifth Third Bancorp		12,400,887		0.6
	581,227		First Horizon National Corp.		8,305,734		0.4
	81,113		Goldman Sachs Group, Inc.		15,246,811		0.7
	1,005,427		JPMorgan Chase & Co.		60,908,768		2.9
	269,169		Marsh & McLennan Cos., Inc.		15,097,689		0.7
	939,961		Morgan Stanley		33,547,208		1.6
	213,333		Northern Trust Corp.		14,858,643		0.7
	277,019		PNC Financial Services Group, Inc.		25,829,252		1.2
	279,916		State Street Corp.		20,582,223		1.0
	94,651	@,L	Synchrony Financial		2,872,658		0.1
	275,368		Willis Group Holdings PLC		13,267,230		0.6
					397,233,151		19.0
			Health Care: 9.6%
	114,134		Amgen, Inc.		18,244,320		0.9
	102,100		Anthem, Inc.		15,765,261		0.8
	105,253		Baxter International, Inc.		7,209,830		0.3
	282,046		Eli Lilly & Co.		20,490,642		1.0
	131,276	@	Express Scripts Holding Co.		11,390,818		0.5
	244,409		Medtronic PLC		19,061,458		0.9
	373,624		Merck & Co., Inc.		21,475,908		1.0
	10,736		Novartis AG ADR		1,058,677		0.1
	216,669		Novartis AG		21,385,336		1.0
	346,497		Pfizer, Inc.		12,054,631		0.6
	153,895		Sanofi		15,198,464		0.8
	317,780		Teva Pharmaceutical Industries Ltd. ADR		19,797,694		0.9
	146,160		UnitedHealth Group, Inc.		17,289,266		0.8
					200,422,305		9.6
			Industrials: 5.6%
	123,738		Caterpillar, Inc.		9,902,752		0.5
	458,017		CSX Corp.		15,169,523		0.7
	142,737		General Dynamics Corp.		19,373,693		0.9
	1,621,003		General Electric Co.		40,217,084		1.9
	262,207		Ingersoll-Rand PLC - Class A		17,851,053		0.9
	357,977		Tyco International Plc		15,414,490		0.7
					117,928,595		5.6
			Information Technology: 9.2%
	167,218	@	Adobe Systems, Inc.		12,364,099		0.6
	321,315		Amdocs Ltd.		17,479,536		0.8
	804,982		Applied Materials, Inc.		18,160,394		0.9
	326,631		Broadcom Corp.		14,141,489		0.7
	705,076		Cisco Systems, Inc.		19,407,217		0.9
	195,214	@	Citrix Systems, Inc.		12,468,318		0.6
	664,724		Corning, Inc.		15,075,940		0.7
	401,373	@	eBay, Inc.		23,151,195		1.1
	527,123		Intel Corp.		16,483,136		0.8
	370,219		Microsoft Corp.		15,051,253		0.7
	302,789		NetApp, Inc.		10,736,898		0.5
	768,561		Symantec Corp.		17,957,428		0.9
					192,476,903		9.2
			Materials: 0.3%
	151,261		Dow Chemical Co.		7,257,503		0.3
			Telecommunication Services: 1.8%
	225,322		Orange SA		3,618,558		0.2
	1,007,968		Koninklijke KPN NV		3,416,648		0.2
	2,105,051	@	Telecom Italia S.p.A.		2,464,799		0.1
	180,872		Telefonica S.A.		2,573,709		0.1
	232,533		Verizon Communications, Inc.		11,308,080		0.6

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Telecommunication Services: (continued)
	403,949		Vodafone Group PLC ADR	$	13,201,053		0.6
					36,582,847		1.8
			Utilities: 0.8%
	234,416		FirstEnergy Corp.		8,218,625		0.4
	170,450		Pacific Gas & Electric Co.		9,045,782		0.4
					17,264,407		0.8
		Total Common Stock
		(Cost $1,252,336,889)			1,345,372,642		64.4
PREFERRED STOCK: 1.0%
			Energy: 0.4%
	140,612	P	El Paso Energy Capital Trust I		8,436,720		0.4
			Financials: 0.6%
	68,900		AMG Capital Trust II		4,215,819		0.2
	56,155		Keycorp		7,356,305		0.4
	20,000	P	State Street Corp.		545,800		0.0
	4,000	P	Wells Fargo & Co.		106,080		0.0
					12,224,004		0.6
		Total Preferred Stock
		(Cost $16,995,140)			20,660,724		1.0
RIGHTS: 0.0%
			Telecommunication Services: 0.0%
	180,872	@	Telefonica SA		29,172		0.0
		Total Rights
		(Cost $–)			29,172		0.0

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: 16.3%
			Basic Materials: 0.4%
	570,000		ArcelorMittal, 4.500%, 08/05/15		574,987		0.0
	80,000		ArcelorMittal, 7.500%, 03/01/41		83,600		0.0
	460,000		ArcelorMittal, 10.600%, 06/01/19		564,362		0.0
	1,320,000		Eastman Chemical Co., 2.700%, 01/15/20		1,340,554		0.1
	195,000		International Paper Co., 6.000%, 11/15/41		232,305		0.0
	315,000		Monsanto Co., 2.125%, 07/15/19		319,623		0.0
	215,000		Monsanto Co., 3.375%, 07/15/24		223,939		0.0
	285,000		Monsanto Co., 3.600%, 07/15/42		271,049		0.0
	770,000	#	Montell Finance Co. BV, 8.100%, 03/15/27		1,062,561		0.1
	465,000		Newmont Mining Corp., 3.500%, 03/15/22		452,004		0.0
	150,000		Rio Tinto Finance USA Ltd., 7.125%, 07/15/28		201,155		0.0
	335,000		Rio Tinto Finance USA Ltd., 9.000%, 05/01/19		425,192		0.0
	4,000		Southern Copper Corp., 5.250%, 11/08/42		3,590		0.0
	105,000		Southern Copper Corp., 6.750%, 04/16/40		112,990		0.0
	835,000		Sunoco Logistics Partner, 5.300%, 04/01/44		864,720		0.1
	550,000		Sunoco Logistics Partner, 5.500%, 02/15/30		615,943		0.1
	420,000	L	Vale Overseas Ltd., 5.625%, 09/15/19		448,300		0.0
	250,000		Vale SA, 5.625%, 09/11/42		217,983		0.0
	320,000	#	Xstrata Finance Canada Ltd., 2.050%, 10/23/15		321,388		0.0
	320,000	#	Xstrata Finance Canada Ltd., 2.700%, 10/25/17		324,820		0.0
					8,661,065		0.4
			Communications: 2.0%
	225,000		America Movil S.A.B de CV, 2.375%, 09/08/16		228,969		0.0
	455,000		America Movil S.A.B de CV, 4.375%, 07/16/42		457,211		0.0
	101,000		AT&T, Inc., 5.350%, 09/01/40		110,630		0.0
	270,000		AT&T, Inc., 6.150%, 09/15/34		320,196		0.0
	4,000		AT&T, Inc., 8.000%, 11/15/31		5,821		0.0
	365,000		British Telecommunications PLC, 1.250%, 02/14/17		365,319		0.0
	2,421,000		Ciena Corp., 4.000%, 12/15/20		3,088,288		0.2
	3,469,000		Comcast Corp., 5.700%, 05/15/18		3,916,681		0.2
	135,000		Comcast Corp., 6.450%, 03/15/37		183,427		0.0
	340,000	#	Cox Communications, Inc., 4.700%, 12/15/42		346,741		0.0
	1,210,000	#	Cox Communications, Inc., 8.375%, 03/01/39		1,724,075		0.1
	345,000	#	Crown Castle Towers, LLC, 3.214%, 08/15/35		347,549		0.0
	435,000	#	Crown Castle Towers, LLC, 6.113%, 01/15/40		497,521		0.0
	2,960,000		DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 5.150%, 03/15/42		3,109,788		0.2
	350,000		Grupo Televisa SAB, 5.000%, 05/13/45		366,108		0.0
	285,000		Interpublic Group of Cos., Inc., 2.250%, 11/15/17		287,414		0.0
	4,912,000	L	JDS Uniphase Corp., 0.625%, 08/15/33		5,105,410		0.3
	2,419,000		Liberty Interactive LLC, 0.750%, 03/30/43		3,388,112		0.2
	9,559,000		Liberty Media Corp., 1.375%, 10/15/23		9,588,872		0.5

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Communications: (continued)
	125,000		NBCUniversal Media, LLC, 5.150%, 04/30/20	$	143,624		0.0
	210,000		NBCUniversal Media, LLC, 5.950%, 04/01/41		275,688		0.0
	415,000		Rogers Communications, Inc., 4.500%, 03/15/43		427,430		0.0
	370,000		Telefonica Emisones SAU, 7.045%, 06/20/36		512,738		0.0
	2,345,000		Time Warner Cable, Inc., 5.000%, 02/01/20		2,619,750		0.1
	445,000		Time Warner Cable, Inc., 5.875%, 11/15/40		534,180		0.0
	160,000		Time Warner, Inc., 5.875%, 11/15/16		172,322		0.0
	535,000		Verizon Communications, Inc., 4.400%, 11/01/34		546,820		0.0
	1,548,000	#	Verizon Communications, Inc., 4.522%, 09/15/48		1,542,489		0.1
	467,000		Verizon Communications, Inc., 5.012%, 08/21/54		486,741		0.0
	745,000		Verizon Communications, Inc., 5.150%, 09/15/23		854,725		0.1
	280,000		Verizon Communications, Inc., 6.400%, 02/15/38		350,221		0.0
	95,000		Verizon Communications, Inc., 6.400%, 09/15/33		118,790		0.0
	559,000		Viacom, Inc., 4.850%, 12/15/34		579,356		0.0
					42,603,006		2.0
			Consumer, Cyclical: 0.8%
	450,000		Advance Auto Parts, Inc., 4.500%, 12/01/23		483,388		0.0
	387,000		Advance Auto Parts, Inc., 5.750%, 05/01/20		438,355		0.0
	755,000		American Airlines 2014-1 Class A Pass Through Trust, 3.700%, 10/01/26		781,425		0.1
	315,000		Cintas Corp. No 2, 2.850%, 06/01/16		322,406		0.0
	235,789		Continental Airlines 2010-1 Class A Pass Through Trust, 4.750%, 07/15/22		252,884		0.0
	370,469		Continental Airlines 2012-1 Class A Pass Thru Trusts, 4.150%, 04/11/24		392,697		0.0
	650,255		CVS Pass-Through Trust, 6.036%, 12/10/28		770,533		0.0
	620,000		CVS Caremark Corp., 3.375%, 08/12/24		644,200		0.0
	160,809		Delta Air Lines 2010-1 Class A Pass Through Trust, 6.200%, 01/02/20		176,890		0.0
	595,000		Dollar General Corp., 3.250%, 04/15/23		579,206		0.0
	800,000		Ford Motor Co., 4.750%, 01/15/43		878,288		0.1
	540,000		Ford Motor Credit Co. LLC, 2.500%, 01/15/16		546,395		0.0
	2,835,000		Ford Motor Credit Co. LLC, 2.750%, 05/15/15		2,841,339		0.1
	725,000		MDC Holdings, Inc., 6.000%, 01/15/43		618,062		0.0
	1,460,000		QVC, Inc., 5.450%, 08/15/34		1,452,531		0.1
	594,000		Ross Stores, Inc., 3.375%, 09/15/24		609,657		0.0
	645,000		Target Corp., 2.900%, 01/15/22		664,869		0.0
	885,000		United Airlines 2014-2 Class A Pass Through Trust, 3.750%, 03/03/28		922,612		0.1
	1,592,682	#	Virgin Australia 2013-1A Trust, 5.000%, 04/23/25		1,676,298		0.1
	1,000,000		Walgreens Boots Alliance, Inc., 3.300%, 11/18/21		1,031,005		0.1
	737,000		Walgreens Boots Alliance, Inc., 4.500%, 11/18/34		781,557		0.1
	375,000		Wal-Mart Stores, Inc., 3.300%, 04/22/24		396,909		0.0
	50,000		Wal-Mart Stores, Inc., 6.500%, 08/15/37		70,092		0.0
	135,000		Wyndham Worldwide Corp., 2.950%, 03/01/17		137,743		0.0
					17,469,341		0.8
			Consumer, Non-cyclical: 4.0%
	1,250,000		AbbVie, Inc., 1.200%, 11/06/15		1,251,992		0.1
	1,455,000		Actavis Funding SCS, 1.850%, 03/01/17		1,465,963		0.1
	781,000		Actavis Funding SCS, 4.550%, 03/15/35		816,772		0.0
	985,000		Actavis Funding SCS, 4.850%, 06/15/44		1,050,490		0.1
	610,000		Aetna, Inc., 3.950%, 09/01/20		665,221		0.0
	700,000		Altria Group, Inc., 4.125%, 09/11/15		710,620		0.0
	980,000		AmerisourceBergen Corp., 3.400%, 05/15/24		1,007,665		0.1
	255,000		Anheuser-Busch InBev Worldwide, Inc., 0.800%, 07/15/15		255,341		0.0
	375,000		Anheuser-Busch InBev Worldwide, Inc., 3.625%, 04/15/15		375,318		0.0
	981,000	#	Bayer US Finance LLC, 3.000%, 10/08/21		1,015,851		0.1
	507,000		Becton Dickinson and Co., 2.675%, 12/15/19		519,341		0.0
	3,611,000		BioMarin Pharmaceutical, Inc., 1.500%, 10/15/20		5,486,463		0.3
	4,224,000		Brookdale Senior Living, Inc., 2.750%, 06/15/18		5,881,920		0.3

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical: (continued)
	240,000		Brown-Forman Corp., 2.250%, 01/15/23	$	230,761		0.0
	4,000,000		Bunge Ltd Finance Corp., 5.100%, 07/15/15		4,046,964		0.2
	715,000		CareFusion Corp., 3.875%, 05/15/24		754,562		0.0
	435,000		CareFusion Corp., 4.875%, 05/15/44		484,178		0.0
	1,445,000		Celgene Corp., 4.625%, 05/15/44		1,543,474		0.1
	325,000		Celgene Corp., 4.000%, 08/15/23		351,252		0.0
	240,000		Corn Products International, Inc., 6.625%, 04/15/37		306,743		0.0
	493,000		Edwards Lifesciences Corp., 2.875%, 10/15/18		508,489		0.0
	965,000	#	ERAC USA Finance LLC, 2.350%, 10/15/19		970,919		0.1
	980,000		Express Scripts Holding Co., 2.250%, 06/15/19		985,394		0.1
	270,000		Express Scripts, Inc., 3.125%, 05/15/16		276,621		0.0
	415,000	#	FBG Finance Ltd., 5.125%, 06/15/15		418,502		0.0
	1,400,000		General Mills, Inc., 2.200%, 10/21/19		1,413,255		0.1
	430,000		Gilead Sciences, Inc., 2.050%, 04/01/19		435,927		0.0
	80,000		GlaxoSmithKline Capital, Inc., 6.375%, 05/15/38		109,030		0.0
	785,000	#	Grupo Bimbo SAB de CV, 3.875%, 06/27/24		811,407		0.0
	4,573,000		HealthSouth Corp., 2.000%, 12/01/43		5,659,088		0.3
	2,410,000	#,L	Jazz Investments I Ltd., 1.875%, 08/15/21		2,816,688		0.1
	963,000		Laboratory Corp. of America Holdings, 3.200%, 02/01/22		976,318		0.1
	423,000		Laboratory Corp. of America Holdings, 4.700%, 02/01/45		437,192		0.0
	1,768,000	#	Live Nation Entertainment, Inc., 2.500%, 05/15/19		1,859,715		0.1
	730,000		McKesson Corp., 2.284%, 03/15/19		738,877		0.0
	210,000		Medco Health Solutions, Inc., 2.750%, 09/15/15		211,813		0.0
	1,733,000	#	Medtronic, Inc., 3.150%, 03/15/22		1,801,166		0.1
	615,000	#	Medtronic, Inc., 4.375%, 03/15/35		672,935		0.0
	390,000		Medtronic, Inc., 4.000%, 04/01/43		405,089		0.0
	555,000		Merck & Co., Inc., 3.700%, 02/10/45		559,190		0.0
	630,000		Moody's Corp., 4.500%, 09/01/22		684,337		0.0
	639,000		Moodys Corp., 4.875%, 02/15/24		712,915		0.0
	2,201,000		NuVasive, Inc., 2.750%, 07/01/17		2,759,504		0.1
	2,627,000		Omnicare, Inc., 3.250%, 12/15/35		3,088,367		0.2
	2,928,000		Omnicare, Inc., 3.500%, 02/15/44		3,577,650		0.2
	780,000		PepsiCo, Inc., 3.600%, 03/01/24		832,967		0.1
	275,000		Perrigo Co. PLC, 2.300%, 11/08/18		277,781		0.0
	275,000		Philip Morris International, Inc., 3.600%, 11/15/23		291,520		0.0
	820,000		Philip Morris International, Inc., 4.875%, 11/15/43		936,594		0.1
	825,000		Tupperware Brands Corp., 4.750%, 06/01/21		893,500		0.1
	354,000		Tyson Foods, Inc., 4.875%, 08/15/34		400,395		0.0
	365,000		Tyson Foods, Inc., 5.150%, 08/15/44		426,555		0.0
	145,000		Ventas Realty L.P., 5.700%, 09/30/43		178,873		0.0
	2,690,000		WellPoint, Inc., 1.250%, 09/10/15		2,696,701		0.1
	7,317,000		WellPoint, Inc., 2.750%, 10/15/42		15,150,763		0.7
	79,000		Zoetis, Inc., 4.700%, 02/01/43		82,708		0.0
					83,279,636		4.0
			Energy: 1.4%
	2,284,000		Chevron Corp., 1.365%, 03/02/18		2,295,758		0.1
	360,000		Chevron Corp., 1.718%, 06/24/18		364,669		0.0
	2,947,000		Cobalt International Energy, Inc., 2.625%, 12/01/19		2,145,784		0.1
	1,528,000		ConocoPhillips Co., 4.150%, 11/15/34		1,627,480		0.1
	1,425,000		ConocoPhillips Co., 2.875%, 11/15/21		1,462,533		0.1
	715,000		Devon Energy Corp., 2.250%, 12/15/18		722,082		0.1
	291,000		Devon Energy Corp., 3.250%, 05/15/22		294,413		0.0
	460,000	#	Enable Midstream Partners L.P., 2.400%, 05/15/19		451,202		0.0
	570,000		Energy Transfer Partners L.P., 4.900%, 03/15/35		570,510		0.0
	175,000		Enterprise Products Operating L.P., 5.250%, 01/31/20		197,727		0.0
	300,000		Enterprise Products Operating L.P., 6.500%, 01/31/19		347,065		0.0
	615,000		Enterprise Products Operating LLC, 2.550%, 10/15/19		623,888		0.0

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Energy: (continued)
	1,943,000		Helix Energy Solutions Group, Inc., 3.250%, 03/15/32	$	1,941,786		0.1
	250,000		Husky Energy, Inc., 3.950%, 04/15/22		254,388		0.0
	868,000		Kinder Morgan, Inc./DE, 5.300%, 12/01/34		899,505		0.1
	3,475,000		Marathon Oil Corp., 0.900%, 11/01/15		3,476,178		0.2
	570,000		Noble Energy, Inc., 5.250%, 11/15/43		597,996		0.0
	130,000		Noble Holding International Ltd., 2.500%, 03/15/17		128,040		0.0
	3,565,000	L	Peabody Energy Corp., 4.750%, 12/15/66		1,276,716		0.1
	295,000		Plains All American Pipeline L.P. / PAA Finance Corp., 3.650%, 06/01/22		304,008		0.0
	577,000		Rowan Cos, Inc., 5.400%, 12/01/42		474,836		0.0
	28,000		Rowan Cos, Inc., 5.850%, 01/15/44		24,208		0.0
	318,000		Southwestern Energy Co., 4.100%, 03/15/22		313,373		0.0
	165,000		Spectra Energy Capital, LLC, 7.500%, 09/15/38		201,359		0.0
	858,000		Spectra Energy Partners L.P., 4.500%, 03/15/45		874,540		0.1
	4,224,000		Stone Energy Corp., 1.750%, 03/01/17		3,828,000		0.2
	544,000		Suncor Energy, Inc., 3.600%, 12/01/24		556,910		0.0
	215,000		Texas Eastern Transmission LP, 7.000%, 07/15/32		283,597		0.0
	1,411,000		Williams Partners L.P., 5.100%, 09/15/45		1,365,871		0.1
	125,000		Williams Partners L.P., 5.400%, 03/04/44		125,860		0.0
					28,030,282		1.4
			Financial: 4.3%
	300,000		Aegon NV, 4.625%, 12/01/15		307,686		0.0
	395,000		American International Group, Inc., 2.300%, 07/16/19		401,265		0.0
	1,870,000		Air Lease Corp., 4.250%, 09/15/24		1,930,775		0.1
	543,000		American Express Co., 3.625%, 12/05/24		558,768		0.0
	2,815,000		American Express Credit Corp., 2.750%, 09/15/15		2,842,624		0.2
	1,200,000		American Financial Group, Inc./OH, 9.875%, 06/15/19		1,535,561		0.1
	1,140,000		American International Group, Inc., 4.375%, 01/15/55		1,154,492		0.1
	440,000	#	Apollo Management Holdings L.P., 4.000%, 05/30/24		453,108		0.0
	500,000	#	Banco Inbursa SA Institucion de Banca Multiple, 4.125%, 06/06/24		493,750		0.0
	445,000		Bank of America Corp., 1.250%, 01/11/16		445,939		0.0
	500,000		Bank of America Corp., 5.650%, 05/01/18		554,944		0.0
	400,000		Bank of America Corp., 5.750%, 12/01/17		440,327		0.0
	525,000		Barclays Bank PLC, 6.750%, 05/22/19		622,930		0.0
	725,000	#	BBVA Bancomer SA/Texas, 4.375%, 04/10/24		753,094		0.1
	260,000		Bear Stearns Cos., Inc., 7.250%, 02/01/18		299,481		0.0
	860,000		BNP Paribas SA, 4.250%, 10/15/24		886,913		0.1
	1,205,000		Brookfield Asset Management, Inc., 4.000%, 01/15/25		1,212,182		0.1
	515,000		Charles Schwab Corp., 4.450%, 07/22/20		577,476		0.0
	365,000		Citigroup, Inc., 3.500%, 05/15/23		364,372		0.0
	1,930,000		Citigroup, Inc., 4.000%, 08/05/24		1,983,824		0.1
	260,000		Citigroup, Inc., 5.300%, 05/06/44		293,422		0.0
	560,000		Citigroup, Inc., 6.675%, 09/13/43		749,563		0.0
	325,000		CNA Financial Corp., 5.875%, 08/15/20		376,328		0.0
	472,000	#	Credit Suisse AG, 6.500%, 08/08/23		540,103		0.0
	340,000		Digital Realty Trust L.P., 4.500%, 07/15/15		340,850		0.0
	1,540,000	#	Farmers Exchange Capital III, 5.454%, 10/15/54		1,529,218		0.1
	600,000		General Electric Capital Corp., 5.250%, 06/29/49		619,500		0.0
	700,000		General Electric Capital Corp., 6.000%, 08/07/19		818,521		0.1
	4,011,000	#	Goldman Sachs Group, Inc., 1.000%, 03/15/17		5,618,208		0.3
	4,179,000	#	Goldman Sachs Group, Inc., 1.000%, 09/28/20		4,537,851		0.2
	350,000		Goldman Sachs Group, Inc., 2.625%, 01/31/19		357,777		0.0
	355,000		Goldman Sachs Group, Inc., 5.250%, 07/27/21		404,041		0.0
	720,000		Goldman Sachs Group, Inc., 6.150%, 04/01/18		809,669		0.1
	345,000		Goldman Sachs Group, Inc., 6.750%, 10/01/37		453,925		0.0
	465,000	#	HBOS PLC, 6.750%, 05/21/18		521,341		0.0
	840,000		HCP, Inc., 3.875%, 08/15/24		855,243		0.1

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	320,000		HCP, Inc., 4.200%, 03/01/24	$	335,279		0.0
	500,000		HSBC Finance Corp., 5.500%, 01/19/16		517,826		0.0
	4,851,000		Jefferies Group, Inc., 3.875%, 11/01/29		4,920,733		0.2
	665,000		JPMorgan Chase & Co., 5.000%, 12/29/49		656,654		0.0
	1,825,000		JPMorgan Chase & Co., 6.100%, 10/29/49		1,884,312		0.1
	315,000		JPMorgan Chase & Co., 6.750%, 12/29/49		343,350		0.0
	1,370,000	#	KKR Group Finance Co. III LLC, 5.125%, 06/01/44		1,420,846		0.1
	1,830,000		Lazard Group LLC, 3.750%, 02/13/25		1,808,490		0.1
	2,000,000	#	Liberty Mutual Group, Inc., 4.850%, 08/01/44		2,177,762		0.1
	375,000		Lloyds Bank PLC, 2.300%, 11/27/18		381,522		0.0
	510,000	#	Macquarie Bank Ltd., 5.000%, 02/22/17		543,293		0.0
	285,000		Markel Corp., 5.000%, 03/30/43		315,174		0.0
	275,000		Marsh & McLennan Cos, Inc., 4.050%, 10/15/23		295,939		0.0
	1,076,000		MGIC Investment Corp., 2.000%, 04/01/20		1,585,083		0.1
	2,779,000	L	MGIC Investment Corp., 5.000%, 05/01/17		3,091,638		0.2
	3,020,000	#	Mizuho Financial Group Cayman 3 Ltd., 4.600%, 03/27/24		3,248,828		0.2
	2,975,000		Morgan Stanley, 2.375%, 07/23/19		2,999,023		0.2
	790,000		Morgan Stanley, 3.450%, 11/02/15		802,311		0.1
	675,000		Morgan Stanley, 4.000%, 07/24/15		681,878		0.0
	560,000		Morgan Stanley, 6.375%, 07/24/42		749,726		0.1
	165,000		National Rural Utilities Cooperative Finance Corp., 3.050%, 02/15/22		169,712		0.0
	1,515,000	#	Nationwide Financial Services, Inc., 5.300%, 11/18/44		1,656,219		0.1
	1,293,000		Old Republic International Corp., 3.750%, 03/15/18		1,532,205		0.1
	400,000		Piedmont Operating Partnership L.P., 4.450%, 03/15/24		417,316		0.0
	360,000		PNC Funding Corp., 5.125%, 02/08/20		411,820		0.0
	320,000		Prudential Financial, Inc., 4.750%, 09/17/15		325,745		0.0
	275,000		Prudential Financial, Inc., 5.100%, 08/15/43		310,221		0.0
	648,000		Radian Group, Inc., 2.250%, 03/01/19		1,042,065		0.1
	1,607,000		Radian Group, Inc., 3.000%, 11/15/17		2,467,749		0.1
	125,000		Realty Income Corp., 2.000%, 01/31/18		126,234		0.0
	5,000,000		Regions Financial Corp., 5.750%, 06/15/15		5,044,595		0.3
	525,000		Reinsurance Group of America, Inc., 4.700%, 09/15/23		574,539		0.0
	2,350,000		Santander Holdings USA, Inc./PA, 3.000%, 09/24/15		2,368,593		0.1
	460,000		Senior Housing Properties Trust, 4.300%, 01/15/16		466,965		0.0
	805,000	#	Societe Generale SA, 5.000%, 01/17/24		844,343		0.1
	315,000	#	Standard Chartered PLC, 3.850%, 04/27/15		315,856		0.0
	440,000	#	Standard Chartered PLC, 5.700%, 03/26/44		493,070		0.0
	445,000		Travelers Cos, Inc./The, 4.600%, 08/01/43		518,989		0.0
	110,000		UBS AG, 5.750%, 04/25/18		123,113		0.0
	500,000		US Bank NA/Cincinnati OH, 3.778%, 04/29/20		500,911		0.0
	320,000		Ventas Realty L.P. / Ventas Capital Corp., 2.700%, 04/01/20		323,836		0.0
	170,000		Ventas Realty L.P. / Ventas Capital Corp., 4.250%, 03/01/22		182,510		0.0
	140,000		Wells Fargo & Co., 1.500%, 01/16/18		140,745		0.0
	470,000		Wells Fargo & Co., 4.100%, 06/03/26		495,882		0.0
	2,000,000		Wells Fargo & Co., 4.650%, 11/04/44		2,141,780		0.1
	350,000		WR Berkley Corp., 4.625%, 03/15/22		381,096		0.0
					88,780,847		4.3
			Industrial: 0.8%
	425,000	#	BAA Funding Ltd., 2.500%, 06/25/17		426,448		0.0
	1,335,000		Burlington Northern Santa Fe LLC, 5.150%, 09/01/43		1,563,549		0.1
	330,000		CSX Corp., 5.500%, 04/15/41		412,536		0.0
	1,015,000		Deere & Co., 2.600%, 06/08/22		1,020,499		0.1
	570,000		Eaton Corp., 0.950%, 11/02/15		570,163		0.0
	295,000		FedEx Corp., 4.900%, 01/15/34		333,252		0.0
	605,000		FedEx Corp., 5.100%, 01/15/44		706,328		0.0
	455,000		L-3 Communications Corp., 3.950%, 05/28/24		467,863		0.0
	304,000		Northrop Grumman Corp., 3.850%, 04/15/45		300,612		0.0

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Industrial: (continued)
	703,000		Packaging Corp. of America, 4.500%, 11/01/23	$	758,414		0.1
	510,000	#	Penske Truck Leasing Co. Lp / PTL Finance Corp., 2.500%, 03/15/16		517,467		0.0
	545,000		Pentair Finance SA, 5.000%, 05/15/21		603,469		0.0
	285,000		Precision Castparts Corp., 2.500%, 01/15/23		281,332		0.0
	260,000		Union Pacific Corp., 3.250%, 01/15/25		272,625		0.0
	157,000		Union Pacific Corp., 3.646%, 02/15/24		170,045		0.0
	730,000		Union Pacific Corp., 4.150%, 01/15/45		790,194		0.1
	375,000		Union Pacific Corp., 4.850%, 06/15/44		447,644		0.0
	3,599,000		UTi Worldwide, Inc., 4.500%, 03/01/19		4,053,374		0.2
	550,000		Valmont Industries, Inc., 5.000%, 10/01/44		537,339		0.0
	2,193,000		Valmont Industries, Inc., 5.250%, 10/01/54		2,170,390		0.1
	752,000		Waste Management, Inc., 3.900%, 03/01/35		773,441		0.1
					17,176,984		0.8
			Technology: 2.5%
	1,146,000		Apple, Inc., 2.150%, 02/09/22		1,132,154		0.1
	7,292,000	#,L	Citrix Systems, Inc., 0.500%, 04/15/19		7,683,945		0.4
	340,000		Computer Sciences Corp., 4.450%, 09/15/22		354,667		0.0
	5,367,000		Lam Research Corp., 1.250%, 05/15/18		7,081,086		0.3
	960,000		Lam Research Corp., 3.800%, 03/15/25		967,438		0.0
	2,788,000	#	Microchip Technology, Inc., 1.625%, 02/15/25		2,908,233		0.1
	4,933,000		Micron Technology, Inc., 3.000%, 11/15/43		5,478,713		0.3
	649,000		Microsoft Corp., 3.500%, 02/12/35		648,737		0.0
	3,387,000		NetSuite, Inc., 0.250%, 06/01/18		3,535,181		0.2
	6,651,000		NVIDIA Corp., 1.000%, 12/01/18		7,873,121		0.4
	1,005,000		Oracle Corp., 4.300%, 07/08/34		1,092,734		0.1
	330,000		Pitney Bowes, Inc., 4.625%, 03/15/24		346,774		0.0
	8,937,000		SanDisk Corp., 0.500%, 10/15/20		9,015,199		0.4
	540,000	#	Seagate HDD Cayman, 4.750%, 01/01/25		560,254		0.0
	1,146,000	#	Seagate HDD Cayman, 5.750%, 12/01/34		1,228,629		0.1
	1,141,000		Xerox Corp., 4.800%, 03/01/35		1,122,617		0.1
					51,029,482		2.5
			Utilities: 0.1%
	355,000		Louisville Gas & Electric Co., 1.625%, 11/15/15		357,207		0.0
	500,000		NextEra Energy Capital Holdings, Inc., 2.600%, 09/01/15		503,503		0.0
	605,000		Oglethorpe Power Corp., 4.550%, 06/01/44		660,549		0.1
	570,000		Southern Co., 2.375%, 09/15/15		574,583		0.0
					2,095,842		0.1
		Total Corporate Bonds/Notes
		(Cost $320,242,174)			339,126,485		16.3
MUNICIPAL BONDS: 0.0%
			Georgia: 0.0%
	175,000		Municipal Electric Authority of Georgia, 6.637%, 04/01/57		228,946		0.0
	325,000		Municipal Electric Authority of Georgia, 6.655%, 04/01/57		424,762		0.0
		Total Municipal Bonds
		(Cost $503,993)			653,708		0.0
U.S. TREASURY OBLIGATIONS: 11.1%
			U.S. Treasury Bonds: 1.8%
	21,705,200		2.000%, due 02/15/25		21,844,243		1.1
	14,074,100		3.000%, due 11/15/44		15,425,439		0.7
					37,269,682		1.8
			U.S. Treasury Notes: 9.3%
	310,000		0.625%, due 05/31/17		310,000		0.0
	120,000		0.875%, due 04/30/17		120,675		0.0
	180,000		2.625%, due 11/15/20		190,744		0.0
	71,028,000		0.500%, due 03/31/17		70,939,215		3.4
	55,005,000		1.000%, due 03/15/18		55,202,688		2.7
	67,512,200		1.375%, due 03/31/20		67,527,998		3.2
					194,291,320		9.3
		Total U.S. Treasury Obligations
		(Cost $230,359,581)			231,561,002		11.1
FOREIGN GOVERNMENT BONDS: 0.2%
	150,000	#	Electricite de France SA, 4.600%, 01/27/20		167,430		0.0
	620,000	#	Electricite de France SA, 4.875%, 01/22/44		705,574		0.1
	640,000	#	Electricite de France SA, 5.625%, 12/29/49		681,760		0.0
	960,000		Brazil Government International Bond, 6.000%, 01/17/17		1,030,800		0.1
	220,000		Korea Development Bank, 4.375%, 08/10/15		222,844		0.0
		Total Foreign Government Bonds
		(Cost $2,568,434)			2,808,408		0.2

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: 0.3%
			Federal Home Loan Mortgage Corporation: 0.1%##
	2,400,000		4.875%, due 06/13/18	$	2,693,829		0.1
			Federal National Mortgage Association: 0.2%##
	2,130,000		4.375%, due 10/15/15		2,177,853		0.1
	915,000		6.625%, due 11/15/30		1,379,710		0.1
					3,557,563		0.2
		Total U.S. Government Agency Obligations
		(Cost $5,686,392)			6,251,392		0.3
		Total Long-Term Investments
		(Cost $1,828,692,603)			1,946,463,533		93.3
SHORT-TERM INVESTMENTS: 7.5%
			Securities Lending Collateralcc: 1.4%
	7,174,288		BNP Paribas Bank, Repurchase Agreement dated 03/31/15, 0.12%, due 04/01/15 (Repurchase Amount $7,174,312, collateralized by various U.S. Government Agency Obligations, 0.000%-6.090%, Market Value plus accrued interest $7,317,785, due 04/17/15-07/15/37)		7,174,288		0.3
	7,174,288		HSBC Securities USA, Repurchase Agreement dated 03/31/15, 0.11%, due 04/01/15 (Repurchase Amount $7,174,310, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-9.375%, Market Value plus accrued interest $7,317,790, due 04/15/15-07/15/32)		7,174,288		0.4
	7,174,288		Merrill Lynch & Co., Inc., Repurchase Agreement dated 03/31/15, 0.15%, due 04/01/15 (Repurchase Amount $7,174,317, collateralized by various U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $7,317,774, due 06/01/15-04/01/45)		7,174,288		0.3
	7,174,288		Mizuho Securities USA Inc., Repurchase Agreement dated 03/31/15, 0.15%, due 04/01/15 (Repurchase Amount $7,174,317, collateralized by various U.S. Government Agency Obligations, 2.000%-5.000%, Market Value plus accrued interest $7,317,774, due 05/01/44-04/01/45)		7,174,288		0.3
	1,510,284		Royal Bank of Canada, Repurchase Agreement dated 03/31/15, 0.12%, due 04/01/15 (Repurchase Amount $1,510,289, collateralized by various U.S. Government Agency Obligations, 0.000%-5.500%, Market Value plus accrued interest $1,540,490, due 01/01/22-03/01/45)		1,510,284		0.1
					30,207,436		1.4

Shares				Value			Percentage of Net Assets
			Mutual Funds: 6.1%
	127,156,951		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $127,156,951)		127,156,951			6.1
		Total Short-Term Investments
		(Cost $157,364,387)			157,364,387			7.5
		Total Investments in Securities (Cost $1,986,056,990)		$	2,103,827,920			100.8
		Liabilities in Excess of Other Assets			(15,840,301	)		(0.8	)
		Net Assets		$	2,087,987,619			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
#	Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.
##	The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies.
@	Non-income producing security.
ADR	American Depositary Receipt
P	Preferred Stock may be called prior to convertible date.

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

cc	Represents securities purchased with cash collateral received for securities on loan.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.

Cost for federal income tax purposes is $1,988,381,974.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	172,014,763
Gross Unrealized Depreciation		(56,568,817	)
Net Unrealized Appreciation	$	115,445,946

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary	$	141,796,577	$	–		$	–	$	141,796,577
Consumer Staples		97,374,058		–			–		97,374,058
Energy		88,644,311		48,391,985			–		137,036,296
Financials		397,233,151		–			–		397,233,151
Health Care		163,838,505		36,583,800			–		200,422,305
Industrials		117,928,595		–			–		117,928,595
Information Technology		192,476,903		–			–		192,476,903
Materials		7,257,503		–			–		7,257,503
Telecommunication Services		24,509,133		12,073,714			–		36,582,847
Utilities		17,264,407		–			–		17,264,407
Total Common Stock		1,248,323,143		97,049,499			–		1,345,372,642
Preferred Stock		651,880		20,008,844			–		20,660,724
Rights		29,172		–			–		29,172
Corporate Bonds/Notes		–		339,126,485			–		339,126,485
Municipal Bonds		–		653,708			–		653,708
Short-Term Investments		127,156,951		30,207,436			–		157,364,387
Foreign Government Bonds		–		2,808,408			–		2,808,408
U.S. Treasury Obligations		–		231,561,002			–		231,561,002
U.S. Government Agency Obligations		–		6,251,392			–		6,251,392
Total Investments, at fair value	$	1,376,161,146	$	727,666,774		$	–	$	2,103,827,920
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts	$	–	$	(1,477,609	)	$	–	$	(1,477,609	)
Total Liabilities	$	–	$	(1,477,609	)	$	–	$	(1,477,609	)

+

Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

#

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 Portfolio 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 Portfolio's investments are categorized as Level 2 investments.

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

At March 31, 2015, the following forward foreign currency contracts were outstanding for VY® Invesco Equity and Income Portfolio:

Counterparty	Currency	Contract Amount		Buy/Sell	Settlement Date	In Exchange For		Fair Value		Unrealized Appreciation (Depreciation)
The Bank of New York	Israeli New Shekel		29,112,691	Sell	04/17/15	$	7,253,330	$	7,315,914	$	(62,584	)
The Bank of New York	Swiss Franc		8,457,016	Sell	04/17/15		8,438,199		8,707,894		(269,695	)
The Bank of New York	Canadian Dollar		11,320,295	Sell	04/17/15		8,862,328		8,936,240		(73,912	)
The Bank of New York	British Pound		11,189,450	Sell	04/17/15		16,516,579		16,596,633		(80,054	)
The Bank of New York	EU Euro		19,637,284	Sell	04/17/15		20,867,069		21,119,334		(252,265	)
State Street Bank	Israeli New Shekel		29,114,191	Sell	04/17/15		7,254,065		7,316,290		(62,225	)
State Street Bank	Swiss Franc		8,494,067	Sell	04/17/15		8,474,280		8,746,044		(271,764	)
State Street Bank	Canadian Dollar		11,320,550	Sell	04/17/15		8,862,008		8,936,442		(74,434	)
State Street Bank	EU Euro		19,663,146	Sell	04/17/15		20,898,778		21,147,148		(248,370	)
State Street Bank	British Pound		11,198,924	Sell	04/17/15		16,528,380		16,610,686		(82,306	)
										$	(1,477,609	)

VY® Invesco Equity and Income Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of March 31, 2015 was as follows:

Derivatives not accounted for as hedging instruments

Liability Derivatives	Instrument Type		Fair Value
Foreign exchange contracts	Forward foreign currency contracts	$	1,477,609
Total Liability Derivatives		$	1,477,609

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at March 31, 2015:

	State Street Bank			The Bank of New York Mellon			Totals
Liabilities:
Forward foreign currency contracts	$	739,099		$	738,510		$	1,477,609
Total Liabilities	$	739,099		$	738,510		$	1,477,609
Net OTC derivative instruments by counterparty, at fair value	$	(739,099	)	$	(738,510	)	$	(1,477,609	)
Total collateral pledged by the Portfolio/(Received from counterparty)	$	-		$	-		$	-
Net Exposure(1)	$	(739,099	)	$	(738,510	)	$	(1,477,609	)

⁽¹⁾ Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio.

	PORTFOLIO OF INVESTMENTS
VY® JPMorgan Mid Cap Value Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 97.1%
			Consumer Discretionary: 18.4%
	11,890	@	Autozone, Inc.	$	8,110,882		1.1
	75,710	@	Bed Bath & Beyond, Inc.		5,812,635		0.8
	186,700		Best Buy Co., Inc.		7,055,393		1.0
	83,439		CBS Corp. - Class B		5,058,907		0.7
	150,021		Clear Channel Outdoor Holdings, Inc.		1,518,213		0.2
	106,590	@	Dish Network Corp. - Class A		7,467,695		1.0
	119,140		Expedia, Inc.		11,214,648		1.5
	214,990		Gannett Co., Inc.		7,971,829		1.1
	220,090		Gap, Inc.		9,536,500		1.3
	175,665		Jarden Corp.		9,292,678		1.3
	193,180		Kohl's Corp.		15,116,335		2.1
	34,566		Marriott International, Inc.		2,776,341		0.4
	61,760	@	Mohawk Industries, Inc.		11,471,920		1.6
	72,900		Nordstrom, Inc.		5,855,328		0.8
	55,380		PVH Corp.		5,901,293		0.8
	80,450		Starwood Hotels & Resorts Worldwide, Inc.		6,717,575		0.9
	87,730		Tiffany & Co.		7,721,117		1.0
	148,340		Time, Inc.		3,328,750		0.4
	42,490		VF Corp.		3,199,922		0.4
					135,127,961		18.4
			Consumer Staples: 6.3%
	57,480		Constellation Brands, Inc.		6,679,751		0.9
	84,980		Dr Pepper Snapple Group, Inc.		6,669,231		0.9
	56,403		Energizer Holdings, Inc.		7,786,434		1.1
	65,220		Hershey Co.		6,581,350		0.9
	134,690		Kroger Co.		10,325,335		1.4
	928,620	@	Rite Aid Corp.		8,069,708		1.1
					46,111,809		6.3
			Energy: 2.8%
	81,570		EQT Corp.		6,759,706		0.9
	98,940		PBF Energy, Inc.		3,356,045		0.5
	139,860		QEP Resources, Inc.		2,916,081		0.4
	310,470	@	Southwestern Energy Co.		7,199,799		1.0
					20,231,631		2.8
			Financials: 29.6%
	9,463	@	Alleghany Corp.		4,608,481		0.6
	270,070		Ally Financial, Inc.		5,666,069		0.8
	125,300		American Campus Communities, Inc.		5,371,611		0.7
	74,650		Ameriprise Financial, Inc.		9,767,206		1.3
	42,700		AvalonBay Communities, Inc.		7,440,475		1.0
	29,370		Boston Properties, Inc.		4,125,898		0.6
	191,590		Brixmor Property Group, Inc.		5,086,714		0.7
	56,770		Chubb Corp.		5,739,447		0.8
	181,930		Citizens Financial Group, Inc.		4,389,971		0.6
	59,240		City National Corp.		5,277,099		0.7
	525,320		Fifth Third Bancorp		9,902,282		1.4
	89,990		First Republic Bank		5,137,529		0.7
	231,040		General Growth Properties, Inc.		6,827,232		0.9
	192,780		Hartford Financial Services Group, Inc.		8,062,060		1.1
	290,580		Hudson City Bancorp., Inc.		3,045,278		0.4
	231,690		Huntington Bancshares, Inc.		2,560,174		0.3
	177,310		Invesco Ltd.		7,037,434		1.0
	301,670		Kimco Realty Corp.		8,099,839		1.1
	78,900		Legg Mason, Inc.		4,355,280		0.6
	280,170		Loews Corp.		11,439,341		1.6
	75,451		M&T Bank Corp.		9,582,277		1.3
	165,550		Marsh & McLennan Cos., Inc.		9,285,700		1.3
	65,190		Northern Trust Corp.		4,540,484		0.6
	212,630		Old Republic International Corp.		3,176,692		0.4
	121,982		Outfront Media, Inc.		3,649,701		0.5
	118,400		Progressive Corp.		3,220,480		0.4
	145,090		Rayonier, Inc.		3,911,626		0.5
	79,130		Regency Centers Corp.		5,384,005		0.7
	215,000		SunTrust Bank		8,834,350		1.2
	104,620		T. Rowe Price Group, Inc.		8,472,128		1.2
	185,730		Unum Group		6,264,673		0.9
	73,706		Vornado Realty Trust		8,255,072		1.1
	166,800		Weyerhaeuser Co.		5,529,420		0.8
	71,360		WR Berkley Corp.		3,604,394		0.5
	200,390		XL Group PLC		7,374,352		1.0
	73,360		Zions Bancorp.		1,980,720		0.3
					217,005,494		29.6
			Health Care: 6.5%
	87,290		AmerisourceBergen Corp.		9,922,254		1.4
	9,915		Becton Dickinson & Co.		1,423,695		0.2
	173,450	@	Brookdale Senior Living, Inc.		6,549,472		0.9
	110,330		Cigna Corp.		14,281,115		1.9
	32,510	@	Henry Schein, Inc.		4,539,046		0.6
	60,770		Humana, Inc.		10,818,276		1.5
					47,533,858		6.5
			Industrials: 9.0%
	126,940		Ametek, Inc.		6,669,428		0.9
	86,550		Carlisle Cos., Inc.		8,017,126		1.1
	78,890		Equifax, Inc.		7,336,770		1.0
	114,410		Fortune Brands Home & Security, Inc.		5,432,187		0.7
	73,220		Hubbell, Inc.		8,026,376		1.1
	103,520		IDEX Corp.		7,849,922		1.1
	95,010	L	MSC Industrial Direct Co.		6,859,722		0.9
	70,470		Regal-Beloit Corp.		5,631,962		0.8
	133,099		Rexnord Corp.		3,552,412		0.5
	45,931		Snap-On, Inc.		6,754,613		0.9
					66,130,518		9.0

	PORTFOLIO OF INVESTMENTS
VY® JPMorgan Mid Cap Value Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: 8.6%
	123,440		Amphenol Corp.	$	7,274,319		1.0
	125,430		Analog Devices, Inc.		7,902,090		1.1
	188,090	@	Arrow Electronics, Inc.		11,501,703		1.6
	146,396		CommScope Holding Co., Inc.		4,178,142		0.6
	170,976		Jack Henry & Associates, Inc.		11,949,513		1.6
	50,740		KLA-Tencor Corp.		2,957,635		0.4
	191,490	@	Synopsys, Inc.		8,869,817		1.2
	189,160		Xilinx, Inc.		8,001,468		1.1
					62,634,687		8.6
			Materials: 5.5%
	80,070		Airgas, Inc.		8,496,228		1.1
	96,478		Albemarle Corp.		5,097,897		0.7
	81,120		Ball Corp.		5,730,317		0.8
	76,110		Rock-Tenn Co.		4,909,095		0.7
	22,730		Sherwin-Williams Co.		6,466,685		0.9
	15,760		Sigma-Aldrich Corp.		2,178,820		0.3
	129,995		Silgan Holdings, Inc.		7,556,609		1.0
					40,435,651		5.5
			Utilities: 10.4%
	354,770		Centerpoint Energy, Inc.		7,240,856		1.0
	218,150		CMS Energy Corp.		7,615,616		1.1
	104,250		Edison International		6,512,497		0.9
	154,290		Energen Corp.		10,183,140		1.4
	72,240	L	National Fuel Gas Co.		4,358,239		0.6
	70,860		NiSource, Inc.		3,129,178		0.4
	409,530		Questar Corp.		9,771,386		1.3
	67,600		Sempra Energy		7,369,752		1.0
	182,910		Westar Energy, Inc.		7,089,592		1.0
	119,580		Wisconsin Energy Corp.		5,919,210		0.8
	190,090		Xcel Energy, Inc.		6,617,033		0.9
					75,806,499		10.4
		Total Common Stock
		(Cost $511,680,769)			711,018,108		97.1

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.6%
		Securities Lending Collateralcc: 0.8%
	300,700	BNP Paribas Bank, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $300,701, collateralized by various U.S. Government Agency Obligations, 1.625%-6.000%, Market Value plus accrued interest $306,714, due 06/01/16-03/01/45)		300,700		0.0
	1,428,441	Daiwa Capital Markets, Repurchase Agreement dated 03/31/15, 0.18%, due 04/01/15 (Repurchase Amount $1,428,448, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.000%, Market Value plus accrued interest $1,457,010, due 02/15/16-03/01/48)		1,428,441		0.2
	1,428,441	Merrill Lynch & Co., Inc., Repurchase Agreement dated 03/31/15, 0.15%, due 04/01/15 (Repurchase Amount $1,428,447, collateralized by various U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $1,457,010, due 06/01/15-04/01/45)		1,428,441		0.2
	1,428,441	Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $1,428,450, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $1,457,010, due 08/15/17-02/15/42)		1,428,441		0.2
	1,428,441	Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $1,428,446, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $1,457,010, due 08/18/15-10/20/64)		1,428,441		0.2
				6,014,464		0.8

	PORTFOLIO OF INVESTMENTS
VY® JPMorgan Mid Cap Value Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value			Percentage of Net Assets
			Mutual Funds: 2.8%
	20,232,137		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $20,232,137)	$	20,232,137			2.8
		Total Short-Term Investments
		(Cost $26,246,601)			26,246,601			3.6
		Total Investments in Securities (Cost $537,927,370)		$	737,264,709			100.7
		Liabilities in Excess of Other Assets			(4,830,770	)		(0.7	)
		Net Assets		$	732,433,939			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.
cc	Represents securities purchased with cash collateral received for securities on loan.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.

Cost for federal income tax purposes is $539,215,597.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	208,034,734
Gross Unrealized Depreciation		(9,985,622	)
Net Unrealized Appreciation	$	198,049,112

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock*	$	711,018,108	$	–	$	–	$	711,018,108
Short-Term Investments		20,232,137		6,014,464		–		26,246,601
Total Investments, at fair value	$	731,250,245	$	6,014,464	$	–	$	737,264,709

* For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

	PORTFOLIO OF INVESTMENTS
VY® Oppenheimer Global Portfolio	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 96.8%
			Brazil: 2.6%
	1,623,550	@	Ambev SA ADR	$	9,351,648		0.5
	2,423,500		BM&FBovespa SA - Bolsa de Valores Mercadorias e Futuros		8,451,553		0.5
	441,130	@	Embraer SA ADR		13,564,747		0.8
	955,499		Itau Unibanco Holding S.A. ADR		10,567,819		0.6
	512,670	L	Vale SA ADR		2,896,586		0.2
					44,832,353		2.6
			China: 0.8%
	325,788	@	JD.com, Inc. ADR		9,571,652		0.5
	94,080	@,L	Qihoo 360 Technology Co. Ltd. ADR		4,816,896		0.3
					14,388,548		0.8
			Denmark: 0.4%
	154,598	L	FLSmidth & Co. A/S		6,946,791		0.4
			France: 4.9%
	173,688		LVMH Moet Hennessy Louis Vuitton SE		30,566,028		1.8
	116,410		Kering		22,725,338		1.3
	302,610		Societe Generale		14,610,566		0.9
	269,374		Technip S.A.		16,293,777		0.9
					84,195,709		4.9
			Germany: 7.9%
	168,025		Allianz SE		29,171,813		1.7
	191,262		Bayer AG		28,615,721		1.7
	423,184		Deutsche Bank AG		14,666,541		0.8
	89,718		Linde AG		18,244,020		1.1
	410,499		SAP SE		29,669,673		1.7
	138,496		Siemens AG		14,978,859		0.9
					135,346,627		7.9
			India: 3.1%
	7,145,299		DLF Ltd.		18,012,520		1.0
	2,480,830		ICICI Bank Ltd. ADR		25,701,399		1.5
	1,827,149		Zee Telefilms Ltd.		9,977,275		0.6
					53,691,194		3.1
			Italy: 1.5%
	67,708	L	Brunello Cucinelli SpA		1,191,781		0.1
	443,197		Gtech S.p.A		8,779,455		0.5
	311,487		Prysmian S.p.A.		6,419,686		0.4
	98,982	L	Tod's S.p.A.		8,966,310		0.5
					25,357,232		1.5
			Japan: 11.3%
	1,267,400		Dai-ichi Life Insurance Co., Ltd.		18,383,780		1.1
	65,300		Fanuc Ltd.		14,255,892		0.8
	1,260,600		KDDI Corp.		28,480,144		1.7
	56,751		Keyence Corp.		30,968,844		1.8
	373,600		Kyocera Corp.		20,418,263		1.2
	291,300		Murata Manufacturing Co., Ltd.		40,006,913		2.3
	340,400		Nidec Corp.		22,596,334		1.3
	142,000		Seibu Holdings, Inc.		3,668,136		0.2
	390,400		Sumitomo Mitsui Financial Group, Inc.		14,954,111		0.9
					193,732,417		11.3
			Mexico: 0.7%
	135,502		Fomento Economico Mexicano SAB de CV ADR		12,669,437		0.7
			Netherlands: 2.1%
	558,583		Airbus Group NV		36,313,842		2.1
			Russia: 0.3%
	4,001,818		Alrosa AO		4,954,182		0.3
			Spain: 3.5%
	1,946,171		Banco Bilbao Vizcaya Argentaria S.A.		19,655,314		1.2
	908,422		Inditex SA		29,165,396		1.7
	561,315	@	Repsol YPF S.A.		10,449,034		0.6
					59,269,744		3.5
			Sweden: 4.0%
	444,234		Assa Abloy AB		26,460,961		1.5
	3,398,225	L	Telefonaktiebolaget LM Ericsson		42,664,518		2.5
					69,125,479		4.0
			Switzerland: 4.9%
	759,062		Credit Suisse Group AG		20,421,765		1.2
	225,504		Nestle S.A.		16,981,002		1.0
	56,585		Roche Holding AG - Genusschein		15,549,111		0.9
	1,688,223	@	UBS Group AG		31,656,059		1.8
					84,607,937		4.9
			United Kingdom: 4.9%
	1,851,300	@,L	Circassia Pharmaceuticals Plc		7,652,301		0.4
	4,275,294	@,L	Earthport PLC		2,790,455		0.2
	1,290,876		Prudential PLC		32,033,519		1.9
	152,970		Shire PLC		12,195,191		0.7
	686,685		Unilever PLC		28,650,747		1.7
					83,322,213		4.9
			United States: 43.9%
	151,980		3M Co.		25,069,101		1.5
	300,390	@	Acadia Pharmaceuticals, Inc.		9,789,710		0.6
	385,693	@	Adobe Systems, Inc.		28,518,140		1.7
	327,760		Aetna, Inc.		34,916,273		2.0
	904,930		Altera Corp.		38,830,546		2.3
	224,000		Anthem, Inc.		34,587,840		2.0
	45,550	@	Biogen, Inc.		19,233,032		1.1
	127,560		BioMarin Pharmaceutical, Inc.		15,896,527		0.9
	48,050	@	Bluebird Bio, Inc.		5,802,998		0.3
	703,810	@	Celldex Therapeutics, Inc.		19,615,185		1.1
	638,230		Citigroup, Inc.		32,881,610		1.9
	132,990	L	Clovis Oncology, Inc.		9,871,848		0.6
	480,830		Colgate-Palmolive Co.		33,340,752		1.9

	PORTFOLIO OF INVESTMENTS
VY® Oppenheimer Global Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			United States: (continued)
	642,270	@	eBay, Inc.	$	37,046,134		2.2
	229,450		Emerson Electric Co.		12,991,459		0.8
	313,350		Facebook, Inc.		25,762,070		1.5
	360,620		FNF Group		13,256,391		0.8
	219,050	@	Gilead Sciences, Inc.		21,495,377		1.2
	135,040		Goldman Sachs Group, Inc.		25,383,469		1.5
	47,300		Google, Inc. - Class A		26,237,310		1.5
	42,650		Google, Inc. - Class C		23,372,200		1.4
	313,400		Intuit, Inc.		30,387,264		1.8
	859,940		Maxim Integrated Products		29,934,511		1.7
	129,020		McDonald's Corp.		12,571,709		0.7
	458,410		McGraw-Hill Cos., Inc.		47,399,594		2.8
	66,720	@	Medivation, Inc.		8,611,550		0.5
	163,320		St. Jude Medical, Inc.		10,681,128		0.6
	100,411	@,L	Theravance Biopharma, Inc.		1,742,131		0.1
	383,840	L	Theravance, Inc.		6,033,965		0.3
	247,590		Tiffany & Co.		21,790,396		1.3
	190,060		United Parcel Service, Inc. - Class B		18,424,416		1.1
	145,960	@	Vertex Pharmaceuticals, Inc.		17,218,901		1.0
	333,840		Walt Disney Co.		35,016,478		2.0
	170,960		Zimmer Holdings, Inc.		20,091,219		1.2
					753,801,234		43.9
		Total Common Stock
		(Cost $990,901,435)			1,662,554,939		96.8
PREFERRED STOCK: 2.0%
			Germany: 1.9%
	359,294		Bayerische Motoren Werke AG		33,186,314		1.9
			India: 0.1%
	50,809,899	@	Zee Entertainment Enterprises Ltd.		665,760		0.1
		Total Preferred Stock
		(Cost $13,141,666)			33,852,074		2.0
RIGHTS: 0.0%
			Spain: 0.0%
	1,946,171	@	Banco Bilbao Vizcaya Argentaria SA		280,410		0.0
		Total Rights
		(Cost $273,596)			280,410		0.0
		Total Long-Term Investments
		(Cost $1,004,316,697)			1,696,687,423		98.8

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 5.7%
		Securities Lending Collateralcc: 4.3%
	3,686,651	BNP Paribas Bank, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $3,686,664, collateralized by various U.S. Government Agency Obligations, 1.625%-6.000%, Market Value plus accrued interest $3,760,384, due 06/01/16-03/01/45)	$	3,686,651		0.2
	17,513,096	Daiwa Capital Markets, Repurchase Agreement dated 03/31/15, 0.18%, due 04/01/15 (Repurchase Amount $17,513,182, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.000%, Market Value plus accrued interest $17,863,358, due 02/15/16-03/01/48)		17,513,096		1.0
	17,513,096	Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $17,513,202, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $17,863,359, due 08/15/17-02/15/42)		17,513,096		1.0
	17,513,096	Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $17,513,158, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $17,863,358, due 08/18/15-10/20/64)		17,513,096		1.0

	PORTFOLIO OF INVESTMENTS
VY® Oppenheimer Global Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateralcc: (continued)
	17,513,096	State of Wisconsin Investment Board, Repurchase Agreement dated 03/31/15, 0.23%, due 04/01/15 (Repurchase Amount $17,513,206, collateralized by various U.S. Government Securities, 0.125%-2.500%, Market Value plus accrued interest $17,864,013, due 04/15/16-01/15/29)	$	17,513,096		1.1
				73,739,035		4.3

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.4%
	24,210,947		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $24,210,947)		24,210,947			1.4
		Total Short-Term Investments
		(Cost $97,949,982)			97,949,982			5.7
		Total Investments in Securities (Cost $1,102,266,679)		$	1,794,637,405			104.5
		Liabilities in Excess of Other Assets			(77,019,373	)		(4.5	)
		Net Assets		$	1,717,618,032			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.
ADR	American Depositary Receipt
cc	Represents securities purchased with cash collateral received for securities on loan.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.

Cost for federal income tax purposes is $1,115,057,520.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	720,853,992
Gross Unrealized Depreciation		(41,274,107	)
Net Unrealized Appreciation	$	679,579,885

Sector Diversification	Percentage of Net Assets
Information Technology		24.1	%
Financials		19.3
Health Care		17.2
Consumer Discretionary		15.8
Industrials		11.4
Consumer Staples		5.8
Materials		2.0
Telecommunication Services		1.7
Energy		1.5
Short-Term Investments		5.7
Liabilities in Excess of Other Assets		(4.5	)
Net Assets		100.0	%

	PORTFOLIO OF INVESTMENTS
VY® Oppenheimer Global Portfolio	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 in valuing the assets and liabilities:⁽¹⁾

	Quoted Prices in Active Markets for Identical Investments (Level 1)		Significant Other Observable Inputs# (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Brazil	$	44,832,353	$	–	$	–	$	44,832,353
China		14,388,548		–		–		14,388,548
Denmark		–		6,946,791		–		6,946,791
France		–		84,195,709		–		84,195,709
Germany		–		135,346,627		–		135,346,627
India		25,701,399		27,989,795		–		53,691,194
Italy		1,191,781		24,165,451		–		25,357,232
Japan		–		193,732,417		–		193,732,417
Mexico		12,669,437		–		–		12,669,437
Netherlands		–		36,313,842		–		36,313,842
Russia		–		4,954,182		–		4,954,182
Spain		–		59,269,744		–		59,269,744
Sweden		–		69,125,479		–		69,125,479
Switzerland		–		84,607,937		–		84,607,937
United Kingdom		2,790,455		80,531,758		–		83,322,213
United States		753,801,234		–		–		753,801,234
Total Common Stock		855,375,207		807,179,732		–		1,662,554,939
Preferred Stock		665,760		33,186,314		–		33,852,074
Rights		280,410		–		–		280,410
Short-Term Investments		24,210,947		73,739,035		–		97,949,982
Total Investments, at fair value	$	880,532,324	$	914,105,081	$	–	$	1,794,637,405

(1)

For the period ended March 31, 2015, as a result of the fair value pricing procedures for international equities utilized by the Portfolio, certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Portfolio's policy is to recognize transfers between levels at the beginning of the reporting period. At March 31, 2015, securities valued at $29,503,422 and $1,110,112 were transferred from Level 1 to Level 2 and Level 2 to Level 1, respectively, within the fair value hierarchy.

#

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 Portfolio 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 Portfolio's investments are categorized as Level 2 investments.

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: 83.3%
			Basic Materials: 4.0%
	360,000	#	Cascades, Inc., 5.500%, 07/15/22	$	366,750		0.3
	275,000	#	Cliffs Natural Resources, Inc., 8.250%, 03/31/20		259,875		0.2
	350,000	#	Eldorado Gold Corp., 6.125%, 12/15/20		342,125		0.3
	375,000	#	Evolution Escrow Issuer LLC, 7.500%, 03/15/22		380,625		0.3
	220,000		Hexion US Finance Corp. / Hexion Nova Scotia Finance ULC, 8.875%, 02/01/18		194,700		0.2
	219,000		Hexion US Finance Corp. / Hexion Nova Scotia Finance ULC, 9.000%, 11/15/20		155,490		0.1
	60,000		Hexion US Finance Corp., 6.625%, 04/15/20		55,200		0.0
	370,000	#	IAMGOLD Corp., 6.750%, 10/01/20		308,025		0.3
	200,000	#	INEOS Group Holdings SA, 5.875%, 02/15/19		198,250		0.2
	155,000		Millar Western Forest Products Ltd., 8.500%, 04/01/21		158,100		0.1
	80,000	#	Prince Mineral Holding Corp., 11.500%, 12/15/19		77,800		0.1
	410,000		Resolute Forest Products, Inc., 5.875%, 05/15/23		396,060		0.3
	170,000		RPM International, Inc., 2.250%, 12/15/20		201,237		0.2
	240,000	#	Steel Dynamics, Inc., 5.125%, 10/01/21		242,700		0.2
	410,000		Tronox Finance LLC, 6.375%, 08/15/20		402,825		0.3
	120,000	#	Unifrax I LLC / Unifrax Holding Co., 7.500%, 02/15/19		121,200		0.1
	295,000		United States Steel Corp., 7.500%, 03/15/22		297,213		0.2
	240,000	#	WR Grace & Co-Conn, 5.125%, 10/01/21		249,600		0.2
	135,000	#	WR Grace & Co-Conn, 5.625%, 10/01/24		144,619		0.1
	305,000		Xerium Technologies, Inc., 8.875%, 06/15/18		315,484		0.3
					4,867,878		4.0
			Communications: 11.8%
	200,000	#	Altice Financing SA, 6.625%, 02/15/23		207,000		0.2
	145,000		Cambium Learning Group, Inc., 9.750%, 02/15/17		145,000		0.1
	550,000		CCO Holdings LLC / CCO Holdings Capital Corp., 6.500%, 04/30/21		579,562		0.5
	200,000		CCOH Safari LLC, 5.750%, 12/01/24		206,500		0.2
	230,000	#	CenturyLink, Inc., 5.625%, 04/01/25		232,012		0.2
	580,000		CenturyLink, Inc., 6.450%, 06/15/21		628,575		0.5
	115,000	#	CommScope, Inc., 5.500%, 06/15/24		115,575		0.1
	120,000	#	CommScope, Inc., 5.000%, 06/15/21		120,450		0.1
	330,000	#	DigitalGlobe, Inc., 5.250%, 02/01/21		331,650		0.3
	400,000		Equinix, Inc., 5.375%, 01/01/22		419,000		0.3
	195,000		Equinix, Inc., 5.375%, 04/01/23		203,385		0.2
	245,000		Finisar Corp., 0.500%, 12/15/33		251,737		0.2
	245,000		Frontier Communications Corp., 8.500%, 04/15/20		276,237		0.2
	555,000		Frontier Communications Corp., 8.750%, 04/15/22		618,825		0.5
	200,000		Frontier Communications Corp., 9.250%, 07/01/21		232,750		0.2
	425,000		Gannett Co., Inc., 6.375%, 10/15/23		462,719		0.4
	200,000		Intelsat Luxembourg SA, 7.750%, 06/01/21		185,250		0.1
	150,000		Lamar Media Corp., 5.375%, 01/15/24		157,125		0.1
	275,000		Liberty Media Corp., 1.375%, 10/15/23		275,859		0.2
	469,063		McGraw-Hill School Educcation, 6.250%, 12/17/19		470,968		0.4
	270,000	#	MDC Partners, Inc., 6.750%, 04/01/20		285,525		0.2
	255,000		Mediacom Broadband LLC / Mediacom Broadband Corp., 5.500%, 04/15/21		258,506		0.2
	85,000	#	MPL 2 Acquisition Canco, Inc., 9.875%, 08/15/18		90,738		0.1
	125,000		NeuStar, Inc., 4.500%, 01/15/23		108,125		0.1
	200,000	#	Numericable Group SA, 6.000%, 05/15/22		203,250		0.2
	350,000		Quebecor Media, Inc., 5.750%, 01/15/23		361,812		0.3
	480,000		Shutterfly, Inc., 0.250%, 05/15/18		476,100		0.4
	170,000	#	Sirius XM Radio, Inc., 4.625%, 05/15/23		164,263		0.1
	1,190,000		Sprint Corp., 7.250%, 09/15/21		1,200,413		1.0
	245,000	#	Taylor Morrison Communities, Inc. / Monarch Communities, Inc., 5.625%, 03/01/24		239,488		0.2
	70,000		T-Mobile USA, Inc., 6.500%, 01/15/24		73,325		0.0
	450,000		T-Mobile USA, Inc., 6.542%, 04/28/20		475,313		0.4

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Communications: (continued)
	100,000		T-Mobile USA, Inc., 6.633%, 04/28/21	$	105,125		0.1
	220,000	#	Townsquare Radio LLC / Townsquare Radio, Inc., 9.000%, 04/01/19		234,764		0.2
	155,000	#	Twitter, Inc., 0.250%, 09/15/19		152,966		0.1
	58,754		Univision Communications, Inc., 4.000%, 03/01/20		58,712		0.0
	160,000	#	Univision Communications, Inc., 5.125%, 02/15/25		163,800		0.1
	340,000		VeriSign, Inc., 4.625%, 05/01/23		340,850		0.3
	150,000	#	VeriSign, Inc., 5.250%, 04/01/25		153,750		0.1
	315,000		ViaSat, Inc., 6.875%, 06/15/20		333,506		0.3
	400,000		Virgin Media Investment Holding, 3.500%, 02/15/20		400,028		0.3
	315,000		WebMD Health Corp., 1.500%, 12/01/20		333,703		0.3
	635,000		WebMD Health Corp., 2.500%, 01/31/18		648,494		0.5
	279,348		West Corp., 3.250%, 06/30/18		279,174		0.2
	375,000		Windstream Corp., 6.375%, 08/01/23		339,585		0.3
	360,000		Windstream Corp., 7.500%, 06/01/22		348,750		0.3
	350,000		Windstream Corp., 7.750%, 10/01/21		350,350		0.3
	200,000		Windstream Corp., 7.750%, 10/15/20		205,750		0.2
					14,506,344		11.8
			Consumer, Cyclical: 10.0%
	245,000		Allegion US Holding Co., Inc., 5.750%, 10/01/21		257,250		0.2
	335,000		Asbury Automotive Group, Inc., 6.000%, 12/15/24		349,237		0.3
	440,000	#	Brookfield Residential Properties, Inc., 6.500%, 12/15/20		462,000		0.4
	200,000		Brown Shoe Co., Inc., 7.125%, 05/15/19		208,250		0.2
	356,125		Camping World, 5.750%, 02/20/20		359,575		0.3
	285,000		DR Horton, Inc., 5.750%, 08/15/23		309,225		0.3
	315,000	#	DriveTime Automotive Group, Inc. / DT Acceptance Corp., 8.000%, 06/01/21		301,612		0.2
	245,000	#	Family Tree Escrow LLC, 5.750%, 03/01/23		258,475		0.2
	174,336		Federal Mogul Corp., 4.750%, 12/27/15		174,075		0.1
	100,000		Ferrellgas L.P. / Ferrellgas Finance Corp., 6.500%, 05/01/21		101,250		0.1
	375,000		Ferrellgas L.P. / Ferrellgas Finance Corp., 6.750%, 01/15/22		383,400		0.3
	345,000	#	Global Partners L.P./GLP Finance Corp., 6.250%, 07/15/22		341,550		0.3
	300,000	#	Group 1 Automotive, Inc., 5.000%, 06/01/22		302,250		0.2
	490,000		Jarden Corp., 1.125%, 03/15/34		584,325		0.5
	406,000	#	JLL/Delta Dutch Newco BV, 7.500%, 02/01/22		423,762		0.3
	650,000		KB Home, 1.375%, 02/01/19		624,812		0.5
	400,000		KB Home, 7.000%, 12/15/21		408,000		0.3
	245,000		KB Home, 7.500%, 09/15/22		252,350		0.2
	103,275		Landrys, Inc., 4.000%, 04/24/18		103,597		0.1
	104,000	#	Lennar Corp., 2.750%, 12/15/20		242,255		0.2
	250,000		Lennar Corp., 4.500%, 06/15/19		258,750		0.2
	465,000		Lennar Corp., 4.750%, 11/15/22		475,462		0.4
	100,000		LKQ Corp., 4.750%, 05/15/23		98,500		0.1
	310,000		MDC Holdings, Inc., 5.500%, 01/15/24		303,800		0.2
	145,000		Meritage Homes Corp., 7.000%, 04/01/22		156,238		0.1
	480,000		Navistar International Corp., 8.250%, 11/01/21		468,600		0.4
	300,000	#	NCL Corp. Ltd., 5.250%, 11/15/19		309,000		0.3
	200,000	#	Nexteer Automotive Group Ltd., 5.875%, 11/15/21		206,000		0.2
	185,000		PC Nextco Holdings LLC / PC Nextco Finance, Inc., 8.750%, 08/15/19		189,163		0.2
	270,000		Regal Entertainment Group, 5.750%, 02/01/25		271,350		0.2
	150,000		Regal Entertainment Group, 5.750%, 03/15/22		153,938		0.1
	330,000		Ryland Group, Inc., 0.250%, 06/01/19		322,988		0.3
	130,000		Ryland Group, Inc., 5.375%, 10/01/22		130,325		0.1
	150,000		Scientific Games International, Inc., 6.250%, 09/01/20		112,500		0.1
	800,000	#	Scientific Games International, Inc., 10.000%, 12/01/22		754,000		0.6
	125,000	#	Shea Homes L.P. / Shea Homes Funding Corp., 5.875%, 04/01/23		127,813		0.1
	145,000	#	Stackpole International Intermediate Co. SA / Stackpole International Power Meta, 7.750%, 10/15/21		144,275		0.1

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Cyclical: (continued)
	235,000		Standard Pacific Corp., 1.250%, 08/01/32	$	290,959		0.2
	431,263		Tower Automotive Holdings  - TL B 1L, 4.000%, 04/17/20		431,668		0.3
	245,000	#	Viking Cruises Ltd., 8.500%, 10/15/22		273,788		0.2
	475,000	#	WMG Acquisition Corp., 6.750%, 04/15/22		452,438		0.4
					12,378,805		10.0
			Consumer, Non-cyclical: 16.5%
	116,929		AdvancePierre Foods - TL L, 5.750%, 07/10/17		117,276		0.1
	245,000		Albany Molecular Research, Inc., 2.250%, 11/15/18		313,141		0.3
	710,000		Alere, Inc., 3.000%, 05/15/16		840,462		0.7
	570,000		Alliance One International, Inc., 9.875%, 07/15/21		501,600		0.4
	210,000		Amsurg Corp., 5.625%, 07/15/22		215,775		0.2
	140,000	#	ARIAD Pharmaceuticals, Inc., 3.625%, 06/15/19		162,050		0.1
	155,000		Ascent Capital Group, Inc., 4.000%, 07/15/20		117,703		0.1
	175,000	#	Ashtead Capital, Inc., 5.625%, 10/01/24		183,094		0.1
	150,000		Aviv Healthcare Properties L.P. / Aviv Healthcare Capital Corp., 7.750%, 02/15/19		156,937		0.1
	200,000		B&G Foods, Inc., 4.625%, 06/01/21		200,500		0.2
	69,612		BioScrip, Inc. - TL B DD, 6.500%, 07/31/20		69,177		0.1
	119,732		BioScrip, Inc. - TL B, 6.500%, 07/31/20		118,984		0.1
	115,000		BioMarin Pharmaceutical, Inc., 0.750%, 10/15/18		171,709		0.1
	115,000		BioMarin Pharmaceutical, Inc., 1.500%, 10/15/20		174,728		0.1
	215,000	#	C&S Group Enterprises LLC, 5.375%, 07/15/22		210,700		0.2
	490,000		Cardtronics, Inc., 1.000%, 12/01/20		487,244		0.4
	120,000	#	Carriage Services, Inc., 2.750%, 03/15/21		144,301		0.1
	225,000	#	Cenveo Corp., 6.000%, 08/01/19		212,062		0.2
	254,000		Cepheid, 1.250%, 02/01/21		283,051		0.2
	67,000		Chiquita Brands International, Inc. / Chiquita Brands LLC, 7.875%, 02/01/21		73,616		0.1
	70,000		CHS/Community Health Systems, Inc., 6.875%, 02/01/22		74,812		0.1
	870,000		CHS/Community Health Systems, Inc., 8.000%, 11/15/19		926,550		0.8
	375,000	#	Cimpress NV, 7.000%, 04/01/22		381,094		0.3
	225,000		Constellation Brands, Inc., 3.750%, 05/01/21		230,625		0.2
	275,000		Constellation Brands, Inc., 4.250%, 05/01/23		283,594		0.2
	225,000		Corsicanto Ltd., 3.500%, 01/15/32		243,000		0.2
	265,000	#	Cott Beverages, Inc., 5.375%, 07/01/22		256,056		0.2
	430,000		Del Monte Foods Company, 8.250%, 07/26/21		390,763		0.3
	200,000	#	Dole Food Co., Inc., 7.250%, 05/01/19		203,500		0.2
	32,000		DynCorp International, Inc., 10.375%, 07/01/17		28,160		0.0
	586,000		Emergent Biosolutions, Inc., 2.875%, 01/15/21		678,661		0.5
	140,000	#	Endo Finance LLC, 5.375%, 01/15/23		140,000		0.1
	315,000	#	Endo Finance LLC, 5.750%, 01/15/22		323,662		0.3
	180,000		Endologix, Inc., 2.250%, 12/15/18		180,450		0.1
	250,000	#	FAGE Dairy Industry SA / FAGE USA Dairy Industry, Inc., 9.875%, 02/01/20		264,375		0.2
	350,000		FTI Consulting, Inc., 6.000%, 11/15/22		369,694		0.3
	270,000		H&E Equipment Services, Inc., 7.000%, 09/01/22		279,450		0.2
	250,000	#,&	Igloo Holdings Corp., 8.250%, 12/15/17		251,250		0.2
	120,000	#	Immunomedics, Inc., 4.750%, 02/15/20		120,550		0.1
	490,000		Insulet Corp., 2.000%, 06/15/19		495,206		0.4
	300,000		Iron Mountain, Inc., 5.750%, 08/15/24		304,875		0.2
	200,000	#	Jazz Investments I Ltd., 1.875%, 08/15/21		233,750		0.2
	240,000	#	Kindred Escrow Corp. II, 8.000%, 01/15/20		258,750		0.2
	255,000		Kindred Healthcare, Inc., 6.375%, 04/15/22		258,506		0.2
	332,000		Lantheus Medical Imaging, Inc., 9.750%, 05/15/17		326,605		0.3
	220,000	#	Medicines Co/The, 2.500%, 01/15/22		238,012		0.2
	180,119		Metaldyne LLC, 4.250%, 10/08/21		181,261		0.1
	100,000		Monitronics International, Inc., 9.125%, 04/01/20		98,375		0.1
	400,000	#	Multi-Color Corp., 6.125%, 12/01/22		417,000		0.3

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical: (continued)
	106,000		NuVasive, Inc., 2.750%, 07/01/17	$	132,898		0.1
	238,000		PDL BioPharma, Inc., 4.000%, 02/01/18		228,926		0.2
	328,000	#	Physio-Control International, Inc., 9.875%, 01/15/19		350,140		0.3
	100,000	#	Post Holdings, Inc., 6.750%, 12/01/21		101,250		0.1
	550,000		Post Holdings, Inc., 7.375%, 02/15/22		570,625		0.5
	245,000		Quidel Corp., 3.250%, 12/15/20		267,050		0.2
	155,000		Rent-A-Center, Inc./TX, 4.750%, 05/01/21		132,525		0.1
	250,000		Revlon Consumer Products Corp., 5.750%, 02/15/21		259,375		0.2
	100,000		Reynolds Group Issuer, Inc., 5.750%, 10/15/20		103,625		0.1
	235,000		Reynolds Group Issuer, Inc., 8.250%, 02/15/21		252,625		0.2
	335,000		Reynolds Group Issuer, Inc., 8.500%, 05/15/18		345,888		0.3
	265,000		Reynolds Group Issuer, Inc., 9.875%, 08/15/19		285,206		0.2
	165,000	#	Safway Group Holding LLC / Safway Finance Corp., 7.000%, 05/15/18		164,175		0.1
	275,000		Salix Pharmaceuticals Ltd., 1.500%, 03/15/19		732,359		0.6
	465,000	#	Sothebys, 5.250%, 10/01/22		459,188		0.4
	255,000	#	Southern States Cooperative, Inc., 10.000%, 08/15/21		242,250		0.2
	204,348		Surgical Care Affiliates, Inc. - TL B 1L, 4.250%, 03/11/22		204,476		0.2
	480,000		Theravance, Inc., 2.125%, 01/15/23		409,500		0.3
	440,000		Truven Health Analytics, Inc., 10.625%, 06/01/20		464,200		0.4
	100,000		United Surgical Partners International, Inc., 9.000%, 04/01/20		107,875		0.1
	275,000		Universal Hospital Services, Inc., 7.625%, 08/15/20		242,000		0.2
	450,000	#	VRX Escrow Corp., 5.875%, 05/15/23		462,375		0.4
	350,000		WellCare Health Plans, Inc., 5.750%, 11/15/20		369,250		0.3
	220,000	#	Wright Medical Group, Inc., 2.000%, 02/15/20		233,063		0.2
					20,313,540		16.5
			Diversified: 0.2%
	230,000	#	Argos Merger Sub, Inc., 7.125%, 03/15/23		238,912		0.2
			Energy: 13.8%
	95,000	#	American Energy-Permian Basin LLC / AEPB Finance Corp., 7.375%, 11/01/21		72,675		0.1
	175,000		Antero Resources Corp., 6.000%, 12/01/20		175,962		0.1
	570,000		Approach Resources, Inc., 7.000%, 06/15/21		513,000		0.4
	206,000		Basic Energy Services, Inc., 7.750%, 10/15/22		153,470		0.1
	235,000		Berry Petroleum Co., 6.375%, 09/15/22		185,062		0.2
	185,000		Bonanza Creek Energy, Inc., 5.750%, 02/01/23		171,125		0.1
	125,000	#	Calfrac Holdings L.P., 7.500%, 12/01/20		111,562		0.1
	175,000	#	Calumet Specialty Products Partners L.P. / Calumet Finance Corp., 7.750%, 04/15/23		177,844		0.1
	350,000	#	Calumet Specialty Products Partners L.P./Calumet Finance Corp., 6.500%, 04/15/21		341,250		0.3
	100,000		Carrizo Oil & Gas, Inc., 7.500%, 09/15/20		103,250		0.1
	154,000		Carrizo Oil & Gas, Inc., 8.625%, 10/15/18		161,315		0.1
	170,000		Chaparral Energy, Inc., 8.250%, 09/01/21		119,000		0.1
	460,000		Chesapeake Energy Corp., 5.375%, 06/15/21		448,500		0.4
	300,000		Chesapeake Energy Corp., 2.250%, 12/15/38		273,750		0.2
	610,000		Cobalt International Energy, Inc., 2.625%, 12/01/19		444,156		0.4
	335,000		Comstock Resources, Inc., 7.750%, 04/01/19		142,375		0.1
	225,000		Concho Resources, Inc./Midland TX, 6.500%, 01/15/22		236,812		0.2
	200,000		Concho Resources, Inc., 5.500%, 04/01/23		202,500		0.2
	210,000	#	ContourGlobal Power Holdings SA, 7.125%, 06/01/19		215,250		0.2
	115,000		Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp., 6.000%, 12/15/20		116,150		0.1
	290,000		Denbury Resources, Inc., 4.625%, 07/15/23		250,125		0.2
	300,000		Denbury Resources, Inc., 5.500%, 05/01/22		271,500		0.2
	245,000	#	Drill Rigs Holdings, Inc., 6.500%, 10/01/17		197,225		0.2
	285,000	#	Energy & Exploration Partners, Inc., 8.000%, 07/01/19		109,725		0.1
	207,000		Energy XXI Ltd., 3.000%, 12/15/18		61,583		0.0

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Energy: (continued)
	275,000		EP Energy, LLC, 7.750%, 09/01/22	$	281,875		0.2
	500,000		EP Energy, LLC, 9.375%, 05/01/20		525,625		0.4
	255,000		EPL Oil & Gas, Inc., 8.250%, 02/15/18		189,975		0.2
	325,000		Exterran Partners L.P. / EXLP Finance Corp., 6.000%, 10/01/22		299,000		0.2
	194,000		Fieldwood Energy - TL 2L, 8.375%, 09/30/20		142,772		0.1
	280,000		Forum Energy Technologies, Inc., 6.250%, 10/01/21		263,900		0.2
	2,000		Green Field Energy Services, Inc. - Escrow		–		–
	380,000		Gulfport Energy Corp., 7.750%, 11/01/20		391,400		0.3
	320,000		Halcon Resources Corp., 8.875%, 05/15/21		224,800		0.2
	185,000		Halcon Resources Corp., 9.250%, 02/15/22		128,575		0.1
	115,000		Halcon Resources Corp., 9.750%, 07/15/20		81,650		0.1
	90,000	#	Hiland Partners L.P. / Hiland Partners Finance Corp., 5.500%, 05/15/22		92,700		0.1
	170,000	#	Hiland Partners L.P. / Hiland Partners Finance Corp., 7.250%, 10/01/20		184,025		0.1
	200,000		Holly Energy Partners L.P. / Holly Energy Finance Corp., 6.500%, 03/01/20		198,000		0.2
	250,380		Jonah Energy, 7.500%, 05/12/21		224,716		0.2
	160,000		Whiting Canadian Holding Co. ULC, 8.125%, 12/01/19		168,400		0.1
	200,000		Legacy Reserves L.P. / Legacy Reserves Finance Corp., 6.625%, 12/01/21		159,000		0.1
	525,000		Linn Energy LLC / Linn Energy Finance Corp., 6.250%, 11/01/19		417,375		0.3
	340,000	#	Memorial Production Partners L.P. / Memorial Production Finance Corp., 6.875%, 08/01/22		302,600		0.2
	200,000		Memorial Production Partners L.P. / Memorial Production Finance Corp., 7.625%, 05/01/21		183,000		0.1
	200,000		Midstates Petroleum Co., Inc. / Midstates Petroleum Co. LLC, 9.250%, 06/01/21		98,000		0.1
	250,000		Murphy Oil USA, Inc., 6.000%, 08/15/23		269,375		0.2
	150,000	#	Murray Energy Corp., 8.625%, 06/15/21		157,500		0.1
	250,000		Northern Oil and Gas, Inc., 8.000%, 06/01/20		223,125		0.2
	365,000		Oasis Petroleum, Inc., 6.875%, 01/15/23		355,875		0.3
	140,000		Offshore Group Investment Ltd., 7.500%, 11/01/19		80,500		0.1
	240,000		PDC Energy, Inc., 7.750%, 10/15/22		253,200		0.2
	285,000		Penn Virginia Corp., 8.500%, 05/01/20		266,475		0.2
	275,000		Range Resources Corp., 5.000%, 03/15/23		275,000		0.2
	210,000		Rice Energy, Inc., 6.250%, 05/01/22		205,800		0.2
	585,000		Rosetta Resources, Inc., 5.625%, 05/01/21		552,825		0.4
	240,000		Rosetta Resources, Inc., 5.875%, 06/01/22		226,200		0.2
	325,000		Sabine Pass Liquefaction LLC, 5.625%, 02/01/21		328,250		0.3
	155,000		Sabine Pass Liquefaction LLC, 5.750%, 05/15/24		156,550		0.1
	560,000		Sanchez Energy Corp., 7.750%, 06/15/21		543,200		0.4
	175,000		SandRidge Energy, Inc., 7.500%, 03/15/21		109,375		0.1
	400,000	#	Sanjel Corp., 7.500%, 06/19/19		258,000		0.2
	130,000		SEACOR Holdings, Inc., 3.000%, 11/15/28		113,506		0.1
	360,000	#	SolarCity Corp., 1.625%, 11/01/19		320,400		0.3
	92,000		Stone Energy Corp., 7.500%, 11/15/22		83,720		0.1
	250,000		Swift Energy Co., 7.875%, 03/01/22		101,875		0.1
	175,000		Swift Energy Co., 8.875%, 01/15/20		74,375		0.1
	155,000	#	Talos Production LLC, 9.750%, 02/15/18		110,050		0.1
	230,000		Targa Resources Partners L.P. / Targa Resources Partners Finance Corp., 4.250%, 11/15/23		222,525		0.2
	190,000		Targa Resources Partners L.P., 6.375%, 08/01/22		199,975		0.2
	465,000		Templar Energy, 8.500%, 11/25/20		317,944		0.3
	300,000		Tesoro Corp., 5.375%, 10/01/22		315,000		0.3
	165,000	#	Ultra Petroleum Corp., 5.750%, 12/15/18		149,738		0.1
	155,000		Unit Corp., 6.625%, 05/15/21		146,475		0.1
	210,000		Vanguard Natural Resources, LLC, 7.875%, 04/01/20		193,200		0.2

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Energy: (continued)
	295,000	#	Western Refining Logistics L.P. / WNRL Finance Corp., 7.500%, 02/15/23	$	301,638		0.2
	260,000	#	Whiting Petroleum Corp., 1.250%, 04/01/20		275,763		0.2
					16,999,988		13.8
			Financial: 7.3%
	211,534	#,&	AAF Holdings LLC/AAF Finance Co., 12.000%, 07/01/19		199,900		0.2
	242,448		Alliant Insurance Services, 5.000%, 12/07/19		242,700		0.2
	300,000		Ally Financial, Inc., 4.625%, 03/30/25		296,625		0.2
	300,000	#	Ausdrill Finance Pty Ltd., 6.875%, 11/01/19		229,500		0.2
	325,000		Bank of America Corp., 6.250%, 09/29/49		332,719		0.3
	375,000		Bank of America Corp., 6.500%, 10/29/49		397,500		0.3
	314,334		Confie Seguros Holding II - TL 1L, 6.750%, 11/08/18		313,680		0.2
	400,000		DuPont Fabros Technology L.P., 5.875%, 09/15/21		415,000		0.3
	115,000		E*TRADE Financial Corp., 5.375%, 11/15/22		121,612		0.1
	250,000	#	Embarcadero Reinsurance Ltd., 5.020%, 02/07/17		251,500		0.2
	300,000	#	Fidelity & Guaranty Life Holdings, Inc., 6.375%, 04/01/21		316,500		0.3
	400,000		Fly Leasing Ltd, 6.375%, 10/15/21		397,000		0.3
	250,000	#	Galileo Re Ltd., 7.420%, 01/09/19		257,112		0.2
	480,000		Geo Group, Inc./The, 5.875%, 10/15/24		501,600		0.4
	250,000		Kennedy-Wilson, Inc., 5.875%, 04/01/24		251,250		0.2
	250,000	#	Kilimanjaro Re Ltd., 4.520%, 04/30/18		251,987		0.2
	350,000		Morgan Stanley, 5.550%, 12/29/49		354,375		0.3
	300,000		MPT Operating Partnership L.P. / MPT Finance Corp., 5.500%, 05/01/24		320,250		0.3
	220,000		Nationstar Mortgage LLC / Nationstar Capital Corp., 6.500%, 06/01/22		212,300		0.2
	575,000		Nationstar Mortgage LLC / Nationstar Capital Corp., 6.500%, 07/01/21		560,625		0.4
	100,000		Nationstar Mortgage LLC / Nationstar Capital Corp., 6.500%, 08/01/18		101,000		0.1
	275,000	#	Ocwen Financial Corp., 6.625%, 05/15/19		239,250		0.2
	665,000	#	Outerwall, Inc., 5.875%, 06/15/21		603,487		0.5
	250,000	#	Queen Street VII Re Ltd., 8.620%, 04/08/16		257,406		0.2
	125,000	#	Rayonier AM Products, Inc., 5.500%, 06/01/24		107,812		0.1
	250,000	#	Residential Reinsurance 2012 Ltd., 5.770%, 12/06/18		257,588		0.2
	250,000	#	Residential Reinsurance 2012 Ltd., 12.770%, 12/06/18		267,963		0.2
	250,000	#	Sanders Re Ltd., 4.020%, 05/05/17		248,713		0.2
	210,000	#	TMX Finance LLC / TitleMax Finance Corp., 8.500%, 09/15/18		150,150		0.1
	250,000	#	Ursa Re Ltd., 3.520%, 12/07/17		251,038		0.2
	300,000		Wells Fargo & Co., 5.875%, 12/31/49		318,060		0.3
					9,026,202		7.3
			Industrial: 10.1%
	105,000	#	AECOM Technology Corp., 5.750%, 10/15/22		108,937		0.1
	105,000	#	AECOM Technology Corp., 5.875%, 10/15/24		110,512		0.1
	350,000		AEP Industries, Inc., 8.250%, 04/15/19		361,375		0.3
	150,000	#	Aguila 3 SA, 7.875%, 01/31/18		150,375		0.1
	205,000	#,&	American Energy - Utica LLC, 3.500%, 03/01/21		103,525		0.1
	345,000	#	Amsted Industries, Inc., 5.000%, 03/15/22		348,450		0.3
	365,345	#,&	Ardagh Finance Holdings SA, 8.625%, 06/15/19		382,472		0.3
	35,294	#	Ardagh Packaging Finance PLC, 7.000%, 11/15/20		35,515		0.0
	250,000	#	Aviation Capital Group Corp., 6.750%, 04/06/21		284,849		0.2
	325,000		Ball Corp., 4.000%, 11/15/23		318,500		0.3
	350,000	#	BC Mountain LLC / BC Mountain Finance, Inc., 7.000%, 02/01/21		330,750		0.3
	85,000	#	Belden, Inc., 5.250%, 07/15/24		86,275		0.1
	195,000	#	Belden, Inc., 5.500%, 09/01/22		200,850		0.2
	50,000	#	Beverage Packaging Holdings Luxembourg II SA / Beverage Packaging Holdings II Is, 6.000%, 06/15/17		50,500		0.0
	225,000	#	BioScrip, Inc., 8.875%, 02/15/21		203,063		0.2
	335,000	#	Bombardier, Inc., 6.000%, 10/15/22		316,156		0.3
	165,000	#	Bombardier, Inc., 6.125%, 01/15/23		156,750		0.1

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Industrial: (continued)
	184,000		Bristow Group, Inc., 6.250%, 10/15/22	$	175,720		0.1
	135,000	#	Building Materials Corp. of America, 6.750%, 05/01/21		143,775		0.1
	305,000	#	Cleaver-Brooks, Inc., 8.750%, 12/15/19		312,625		0.3
	300,000	#	Coveris Holding Corp., 10.000%, 06/01/18		318,000		0.3
	640,000		Crown Cork & Seal Co., Inc., 7.375%, 12/15/26		736,000		0.6
	100,000		Darling Ingredients, Inc., 5.375%, 01/15/22		101,125		0.1
	125,000		Filtration Group, Inc., 8.250%, 11/22/21		125,832		0.1
	175,000		Flextronics International Ltd., 4.625%, 02/15/20		184,406		0.1
	290,000		Flextronics International Ltd., 5.000%, 02/15/23		305,225		0.2
	270,000	#	Florida East Coast Holdings Corp., 6.750%, 05/01/19		272,700		0.2
	100,000		GCI, Inc., 6.750%, 06/01/21		101,563		0.1
	744,000		General Cable Corp., 4.500%, 11/15/29		592,875		0.5
	100,000		Golar LNG Ltd., 3.750%, 03/07/17		105,890		0.1
	505,000		Griffon Corp., 5.250%, 03/01/22		500,127		0.4
	115,000		IAC/InterActiveCorp, 4.875%, 11/30/18		119,025		0.1
	104,846		International Equipment Solution LLC - TL B, 6.750%, 08/16/19		105,174		0.1
	175,000	#	Intrepid Aviation Group Holdings LLC / Intrepid Finance Co., 6.875%, 02/15/19		160,563		0.1
	310,000	#	JB Poindexter & Co., Inc., 9.000%, 04/01/22		337,900		0.3
	335,000	#	JMC Steel Group, 8.250%, 03/15/18		282,656		0.2
	190,000	#	Liberty Tire Recycling, 11.000%, 10/01/16		152,950		0.1
	190,000	#	Mcron Finance Sub, LLC / Mcron Finance Corp., 8.375%, 05/15/19		203,775		0.2
	220,000	#	Moog, Inc., 5.250%, 12/01/22		227,150		0.2
	575,000	#	NANA Development Corp., 9.500%, 03/15/19		534,750		0.4
	400,000	#	Rentech Nitrogen Partners L.P. / Rentech Nitrogen Finance Corp., 6.500%, 04/15/21		390,000		0.3
	400,000	#	Rexel SA, 5.250%, 06/15/20		421,500		0.3
	205,000		RTI International Metals, Inc., 1.625%, 10/15/19		236,775		0.2
	190,000	#	SunPower Corp., 0.875%, 06/01/21		184,538		0.1
	200,000	#	Syncreon Group BV / Syncreon Global Finance US, Inc., 8.625%, 11/01/21		172,000		0.1
	125,000		Triumph Group, Inc., 5.250%, 06/01/22		123,438		0.1
	150,000	#	USG Corp., 5.500%, 03/01/25		153,375		0.1
	550,000	#	Viasystems, Inc., 7.875%, 05/01/19		581,625		0.5
	100,000	#	Videotron Ltd., 5.375%, 06/15/24		103,250		0.1
	545,000		Vishay Intertechnology, Inc., 2.250%, 05/15/41		471,084		0.4
					12,486,245		10.1
			Materials: 0.5%
	610,000		Exterran Partners L.P. / EXLP Finance Corp., 6.000%, 04/01/21		564,250		0.5
			Technology: 7.4%
	210,000	#	ACI Worldwide, Inc., 6.375%, 08/15/20		220,237		0.2
	200,000	#	Activision Blizzard, Inc., 5.625%, 09/15/21		213,500		0.2
	125,000	#	Activision Blizzard, Inc., 6.125%, 09/15/23		136,562		0.1
	265,000		Advanced Micro Devices, Inc., 6.750%, 03/01/19		258,375		0.2
	210,000		Advanced Micro Devices, Inc., 7.500%, 08/15/22		202,125		0.2
	160,000		Advanced Micro Devices, Inc., 7.000%, 07/01/24		138,800		0.1
	260,000	Z	Akamai Technologies, Inc., -1.900%, 02/15/19		280,639		0.2
	150,000	#	Audatex North America, Inc., 6.000%, 06/15/21		159,375		0.1
	215,000	#	Brocade Communications Systems, Inc., 1.375%, 01/01/20		226,691		0.2
	460,000		Brocade Communications Systems, Inc., 4.625%, 01/15/23		461,150		0.4
	160,000	#	Citrix Systems, Inc., 0.500%, 04/15/19		168,600		0.1
	190,000		Emulex Corp., 1.750%, 11/15/18		192,969		0.2
	375,000	#	Entegris, Inc., 6.000%, 04/01/22		392,812		0.3
	74,083		Expert Global Solutions, Inc., 8.500%, 04/03/18		74,152		0.1
	75,000	#	First Data Corp., 7.375%, 06/15/19		78,562		0.1
	89,000		First Data Corp., 12.625%, 01/15/21		105,687		0.1
	300,000	#	IHS, Inc., 5.000%, 11/01/22		302,820		0.2

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Technology: (continued)
	510,000		j2 Global, Inc., 8.000%, 08/01/20	$	553,350		0.5
	145,000		KEYW Holding Corp., 2.500%, 07/15/19		117,269		0.1
	250,000		MedAssets, Inc., 8.000%, 11/15/18		261,875		0.2
	450,000		Mentor Graphics Corp., 4.000%, 04/01/31		563,625		0.5
	225,000	#	Micron Technology, Inc., 5.250%, 08/01/23		229,500		0.2
	250,000	#	MSCI, Inc., 5.250%, 11/15/24		259,062		0.2
	265,000		NCR Corp., 5.000%, 07/15/22		268,975		0.2
	160,000		NCR Corp., 6.375%, 12/15/23		171,200		0.1
	905,000		Nuance Communications, Inc., 2.750%, 11/01/31		902,738		0.7
	306,000		ON Semiconductor Corp., 2.625%, 12/15/26		392,828		0.3
	700,000	#	Seagate HDD Cayman, 4.750%, 01/01/25		726,256		0.6
	595,000		Seagate HDD Cayman, 4.750%, 06/01/23		626,424		0.5
	199,000		SkillSoft, 5.750%, 04/28/21		196,960		0.2
	130,000		Synchronoss Technologies, Inc., 0.750%, 08/15/19		150,719		0.1
	47,774		Vertafore, Inc., 4.250%, 07/31/16		47,849		0.0
					9,081,686		7.4
			Telecommunication Services: –%
	1,445,000		Millicom International Cellular S.A. Escrow		–		–
			Utilities: 1.7%
	505,000		AES Corp., 4.875%, 05/15/23		490,481		0.4
	100,000		AES Corp., 5.500%, 03/15/24		100,500		0.1
	420		AES Red Oak, LLC, 8.540%, 11/30/19		449		0.0
	550,000		NRG Energy, Inc., 6.250%, 05/01/24		556,875		0.5
	150,000		NRG Energy, Inc., 6.250%, 07/15/22		155,063		0.1
	275,000		NRG Energy, Inc., 7.625%, 01/15/18		303,531		0.2
	540,000	#	RJS Power Holdings LLC, 5.125%, 07/15/19		534,600		0.4
					2,141,499		1.7
		Total Corporate Bonds/Notes
		(Cost $102,947,127)			102,605,349		83.3
COLLATERALIZED MORTGAGE OBLIGATIONS: 0.9%
	1,000,000	#	Timberstar Trust, 7.530%, 10/15/36		1,033,304		0.9
		Total Collateralized Mortgage Obligations
		(Cost $1,008,037)			1,033,304		0.9
FOREIGN GOVERNMENT BONDS: 0.0%
	12,772	&	Mashantucket Western Pequot Tribe, 2.000%, 07/01/36		45		0.0
		Total Foreign Government Bonds
		(Cost $383)			45		0.0

Shares				Value		Percentage of Net Assets
COMMON STOCK: 7.6%
			Consumer Discretionary: 1.3%
	3,636		Cengage Learning Holdings II L.P.		81,810		0.1
	50,408		Ford Motor Co.		813,585		0.7
	7,965	@	Pinnacle Entertainment, Inc.		287,457		0.2
	3,742		Starbucks Corp.		354,367		0.3
					1,537,219		1.3
			Energy: 0.4%
	20		Green Field Energy Service, Inc.		–		–
	2,113	@	Halcon Resources Corp.		3,254		0.0
	6,900		Marathon Oil Corp.		180,159		0.1
	3,450		Marathon Petroleum Corp.		353,245		0.3
					536,658		0.4
			Financials: 0.8%
	38,682	@	Forest City Enterprises, Inc.		987,165		0.8
	1,476	#	Perseus Holding Corp.		–		–
					987,165		0.8
			Health Care: 1.9%
	5,700		Aetna, Inc.		607,221		0.5
	15,129		BioScrip, Inc.		67,021		0.1
	2,875	@	Bio-Rad Laboratories, Inc.		388,643		0.3
	4,220		Cigna Corp.		546,237		0.4
	5,429		Thermo Fisher Scientific, Inc.		729,332		0.6
	295	@	Waters Corp.		36,674		0.0
					2,375,128		1.9
			Industrials: 1.2%
	123		Ceva Holdings LLC		89,429		0.1

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	19,600		Commercial Vehicle Group, Inc.	$	126,224		0.1
	15,223		General Cable Corp.		262,292		0.2
	11,246	@	Horizon Lines, Inc.		7,310		0.0
	5,900		Joy Global, Inc.		231,162		0.2
	5,449		Kennametal, Inc.		183,577		0.2
	3,869		Orbital ATK, Inc.		296,481		0.2
	4,490	@	United Continental Holdings, Inc.		301,953		0.2
					1,498,428		1.2
			Information Technology: 0.7%
	5,800		EMC Corp.		148,248		0.1
	21		Magnachip Semiconductors S.A.		–		–
	13,491	@	NCR Corp.		398,120		0.3
	3,986		TE Connectivity Ltd.		285,477		0.3
					831,845		0.7
			Materials: 1.1%
	10,495		Axiall Corp.		492,636		0.4
	16,600		Freeport-McMoRan, Inc.		314,570		0.3
	5,849		LyondellBasell Industries NV - Class A		513,542		0.4
	45,826	@	Polymet Mining Corp.		58,657		0.0
					1,379,405		1.1
			Telecommunication Services: 0.2%
	28,800		Windstream Holdings, Inc.		213,120		0.2
		Total Common Stock
		(Cost $6,347,637)			9,358,968		7.6
PREFERRED STOCK: 3.8%
			Consumer Discretionary: 0.5%
	7,900	@	Sealy Corp.		670,868		0.5
			Consumer Staples: 0.2%
	2,600	#	Post Holdings, Inc.		242,125		0.2
			Energy: 0.6%
	285		Halcon Resources Corp.		84,146		0.1
	3,670	P	NuStar Logistics L.P.		95,750		0.1
	1,400	#	Penn Virginia Corp.		85,246		0.1
	11,500		Petroquest Energy, Inc.		323,438		0.3
	1,016		SandRidge Energy, Inc. 7.0% Conv PS		39,243		0.0
	1,400		SandRidge Energy, Inc. 8.5% Conv PS		53,375		0.0
					681,198		0.6
			Financials: 1.9%
	675	#,P	Ally Financial, Inc.		692,824		0.6
	3,000		AMG Capital Trust II		183,563		0.1
	26,000	P	Citigroup, Inc.		718,640		0.6
	3,630	P	Fifth Third Bancorp		102,547		0.1
	13,000	P	GMAC Capital Trust I		341,250		0.3
	11,000	P	Morgan Stanley		313,170		0.2
	775	#,@	Perseus Holding Corp.		–		–
					2,351,994		1.9
			Health Care: 0.2%
	811		Alere, Inc.		275,537		0.2
			Industrials: 0.2%
	267	@	Ceva Holdings Series A-2		193,597		0.2
			Utilities: 0.2%
	12,000	P	PPL Capital Funding, Inc.		306,480		0.2
		Total Preferred Stock
		(Cost $5,323,888)			4,721,799		3.8
WARRANTS: 0.1%
			Industrials: 0.1%
	3,612,760	@	Horizon Lines, Inc.		93,932		0.1
		Total Warrants
		(Cost $260,119)			93,932		0.1
		Total Long-Term Investments
		(Cost $115,887,191)			117,813,397		95.7
SHORT-TERM INVESTMENTS: 3.2%
			Mutual Funds: 3.2%
	3,994,506		BlackRock Liquidity Funds, TempFund, Institutional Class, 0.070%††
			(Cost $3,994,506)		3,994,506		3.2
		Total Short-Term Investments
		(Cost $3,994,506)			3,994,506		3.2
		Total Investments in Securities (Cost $119,881,697)		$	121,807,903		98.9
		Assets in Excess of Other Liabilities			1,363,672		1.1
		Net Assets		$	123,171,575		100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
#	Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.
@	Non-income producing security.
&	Payment-in-kind
P	Preferred Stock may be called prior to convertible date.
Z	Indicates Zero Coupon Bond; rate shown reflects current effective yield.

Cost for federal income tax purposes is $120,428,037.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	7,841,384
Gross Unrealized Depreciation		(6,461,518	)
Net Unrealized Appreciation	$	1,379,866

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary	$	1,537,219	$	–	$	–	$	1,537,219
Energy		536,658		–		–		536,658
Financials		987,165		–		–		987,165
Health Care		2,375,128		–		–		2,375,128
Industrials		1,408,999		–		89,429		1,498,428
Information Technology		831,845		–		–		831,845
Materials		1,379,405		–		–		1,379,405
Telecommunication Services		213,120		–		–		213,120
Total Common Stock		9,269,539		–		89,429		9,358,968
Preferred Stock		1,716,374		2,811,828		193,597		4,721,799
Warrants		–		93,932		–		93,932
Corporate Bonds/Notes		–		102,605,349		–		102,605,349
Collateralized Mortgage Obligations		–		1,033,304		–		1,033,304
Short-Term Investments		3,994,506		–		–		3,994,506
Foreign Government Bonds		–		45		–		45
Total Investments, at fair value	$	14,980,419	$	106,544,458	$	283,026	$	121,807,903
Other Financial Instruments+
Centrally Cleared Swaps		–		19,821		–		19,821
Total Assets	$	14,980,419	$	106,564,279	$	283,026	$	121,827,724

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and 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 valued at the unrealized gain (loss) on the instrument.  OTC swaps and written options are valued at the fair value of the instrument.

At March 31, 2015, the following centrally cleared credit default swaps were outstanding for VY® Pioneer High Yield Portfolio:

Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection⁽¹⁾

Reference Entity/Obligation	Buy/Sell Protection	(Pay)/ Receive Fixed Rate (%)		Clearinghouse	Termination Date	Notional Amount(2)		Fair Value(3)		Unrealized Appreciation/ (Depreciation)
CDX.HY.23	Sell		5.000	Chicago Mercantile Exchange	12/20/19	USD	1,113,035	$	91,057	$	19,821
								$	91,057	$	19,821

(1)	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the  Portfolio will generally either i) Pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or ii) Pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index.
(2)	The maximum amount of future payments (undiscounted) that a Portfolio as seller of protection could be required to make or receive as a buyer of credit protection under a credit default swap agreement would be an amount equal to the notional amount of the agreement.
(3)	The fair values for credit default swap agreements serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. Increasing fair values, in absolute terms, when compared to the notional amount of the agreement, represent a deterioration of the referenced obligation’s credit soundness and a greater likelihood or risk of default or other credit event occurring.

VY® Pioneer High Yield Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of March 31, 2015 was as follows:

Derivatives not accounted for as hedging instruments

Asset Derivatives	Instrument Type		Fair Value
Credit contracts	Credit default swaps	$	19,821
Total Asset Derivatives		$	19,821

VY® T. Rowe Price Diversified Mid Cap Growth Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.0%
			Consumer Discretionary: 21.4%
	11,900	@	Autozone, Inc.	$	8,117,704		0.9
	88,300		Bloomin Brands, Inc.		2,148,339		0.2
	65,900		BorgWarner, Inc.		3,985,632		0.4
	45,600		Brinker International, Inc.		2,807,136		0.3
	30,000		Burlington Stores, Inc.		1,782,600		0.2
	124,000	@	Carmax, Inc.		8,557,240		0.9
	14,600	@	Charter Communications, Inc.		2,819,406		0.3
	7,900		Chipotle Mexican Grill, Inc.		5,139,266		0.6
	48,300		Choice Hotels International, Inc.		3,094,581		0.3
	47,000		Coach, Inc.		1,947,210		0.2
	137,829	@,L	Coupons.com, Inc.		1,618,112		0.2
	30,900	@	Ctrip.com International Ltd. ADR		1,811,358		0.2
	27,500		Delphi Automotive PLC		2,192,850		0.2
	38,300		Dick's Sporting Goods, Inc.		2,182,717		0.2
	57,200		Discovery Communications, Inc. - Class C		1,685,970		0.2
	66,300		Dollar General Corp.		4,997,694		0.6
	63,600	@	Dollar Tree, Inc.		5,160,822		0.6
	69,100		Extended Stay America, Inc.		1,349,523		0.2
	42,500		Five Below, Inc.		1,511,725		0.2
	19,700	@	Fossil Group, Inc.		1,624,265		0.2
	95,200		Gentex Corp.		1,742,160		0.2
	273,600		Hanesbrands, Inc.		9,168,334		1.0
	29,700		Harley-Davidson, Inc.		1,803,978		0.2
	50,400	@	HomeAway, Inc.		1,520,568		0.2
	122,400		Interpublic Group of Cos., Inc.		2,707,488		0.3
	95,500	@	Kate Spade & Co.		3,188,745		0.4
	55,300		L Brands, Inc.		5,214,237		0.6
	85,500		Liberty Media Corp. - Interactive		2,495,745		0.3
	12,155		Liberty Ventures		510,632		0.1
	33,100	@	Lululemon Athletica, Inc.		2,119,062		0.2
	18,400	L	Lumber Liquidators Holdings, Inc.		566,352		0.1
	81,600	@	Markit Ltd.		2,195,040		0.2
	52,912		Marriott International, Inc.		4,249,892		0.5
	59,200		Mattel, Inc.		1,352,720		0.2
	46,300		McGraw-Hill Cos., Inc.		4,787,420		0.5
	137,500	@	MGM Resorts International		2,891,625		0.3
	94,700	@	Michaels Cos, Inc.		2,562,582		0.3
	15,292	@	NetFlix, Inc.		6,372,023		0.7
	67,100		Newell Rubbermaid, Inc.		2,621,597		0.3
	19,900	@	Norwegian Cruise Line Holdings Ltd.		1,074,799		0.1
	23,300		Omnicom Group, Inc.		1,816,934		0.2
	29,000	@	O'Reilly Automotive, Inc.		6,270,960		0.7
	49,400	@	Pandora Media, Inc.		800,774		0.1
	10,900	@	Panera Bread Co.		1,743,946		0.2
	34,400		Papa John's International, Inc.		2,126,264		0.2
	26,800		Polaris Industries, Inc.		3,781,480		0.4
	4,731		Remy International, Inc.		105,076		0.0
	24,600	@	Restoration Hardware Holdings, Inc.		2,440,074		0.3
	74,500		Ross Stores, Inc.		7,849,320		0.9
	20,100		Royal Caribbean Cruises Ltd.		1,645,185		0.2
	36,500		Sotheby's		1,542,490		0.2
	55,200		Starwood Hotels & Resorts Worldwide, Inc.		4,609,200		0.5
	15,900	@,L	Tesla Motors, Inc.		3,001,443		0.3
	54,400		Tiffany & Co.		4,787,744		0.5
	69,600	@	Toll Brothers, Inc.		2,738,064		0.3
	67,200		Tractor Supply Co.		5,716,032		0.6
	20,800	@	TripAdvisor, Inc.		1,729,936		0.2
	13,400	@	Ulta Salon Cosmetics & Fragrance, Inc.		2,021,390		0.2
	140,300	@	Vipshop Holdings Ltd. ADR		4,130,432		0.5
	37,020	@,L	Wayfair, Inc.		1,189,082		0.1
	37,000		Williams-Sonoma, Inc.		2,949,270		0.3
	56,500		Wolverine World Wide, Inc.		1,889,925		0.2
	29,800		Wynn Resorts Ltd.		3,751,224		0.4
	45,900	@,L	Zulily, Inc.		596,241		0.1
					192,911,635		21.4
			Consumer Staples: 5.1%
	44,750		Brown-Forman Corp.		4,043,162		0.5
	42,200		Church & Dwight Co., Inc.		3,604,724		0.4
	21,000		Clorox Co.		2,318,190		0.3
	23,700		Dr Pepper Snapple Group, Inc.		1,859,976		0.2
	143,600		Flowers Foods, Inc.		3,265,464		0.4
	41,000	@,L	Fresh Market, Inc.		1,666,240		0.2
	28,300		Hain Celestial Group, Inc.		1,812,615		0.2
	28,600		Hershey Co.		2,886,026		0.3
	18,800		JM Smucker Co.		2,175,724		0.2
	14,700		Keurig Green Mountain, Inc.		1,642,431		0.2
	59,700		McCormick & Co., Inc.		4,603,467		0.5
	47,800		Mead Johnson Nutrition Co.		4,805,334		0.5
	17,900		Pricesmart, Inc.		1,521,142		0.2
	496,500	@	Rite Aid Corp.		4,314,585		0.5
	79,800		Sprouts Farmers Market, Inc.		2,811,354		0.3
	41,900		Whole Foods Market, Inc.		2,182,152		0.2
					45,512,586		5.1
			Energy: 4.2%
	25,690	@,L	Antero Resources Corp.		907,371		0.1
	62,800		Cabot Oil & Gas Corp.		1,854,484		0.2
	30,300	@	Cameron International Corp.		1,367,136		0.2
	21,100		Cimarex Energy Co.		2,428,399		0.3
	31,100		Concho Resources, Inc.		3,605,112		0.4

VY® T. Rowe Price Diversified Mid Cap Growth Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Energy:				(continued)
	22,200		Continental Resources, Inc.	$	969,474		0.1
	9,100	L	Core Laboratories NV		950,859		0.1
	44,200	@	Diamondback Energy, Inc.		3,396,328		0.4
	61,600		EQT Corp.		5,104,792		0.6
	72,200		Frank's International N.V.		1,350,140		0.1
	31,900		Oceaneering International, Inc.		1,720,367		0.2
	25,600		Pioneer Natural Resources Co.		4,185,856		0.5
	94,900		Range Resources Corp.		4,938,596		0.5
	57,900	@,L	Rice Energy, Inc.		1,259,904		0.1
	20,400		SM Energy Co.		1,054,272		0.1
	23,600		Tesoro Corp.		2,154,444		0.2
	75,800		WPX Energy, Inc.		828,494		0.1
					38,076,028		4.2
			Financials: 7.3%
	38,700		Artisan Partners Asset Management, Inc.		1,759,302		0.2
	80,800		BankUnited, Inc.		2,645,392		0.3
	72,633		CBOE Holdings, Inc.		4,169,497		0.5
	99,800		Crown Castle International Corp.		8,237,492		0.9
	156,600	@	E*Trade Financial Corp.		4,471,713		0.5
	14,300		Federal Realty Investment Trust		2,105,103		0.2
	35,400	L	Financial Engines, Inc.		1,480,782		0.2
	112,400		FNF Group		4,131,824		0.5
	26,464		FNFV Group		373,143		0.0
	31,700		HCC Insurance Holdings, Inc.		1,796,439		0.2
	21,000		Intercontinental Exchange, Inc.		4,898,670		0.5
	42,600		Invesco Ltd.		1,690,794		0.2
	18,400		Jones Lang LaSalle, Inc.		3,135,360		0.3
	80,900	@	Lazard Ltd.		4,254,531		0.5
	59,800		LPL Financial Holdings, Inc.		2,622,828		0.3
	40,700		Moody's Corp.		4,224,660		0.5
	34,300		MSCI, Inc. - Class A		2,102,933		0.2
	25,200		Northern Trust Corp.		1,755,180		0.2
	95,700		Progressive Corp.		2,603,040		0.3
	21,300	@	SVB Financial Group		2,705,952		0.3
	108,400		TD Ameritrade Holding Corp.		4,038,984		0.5
	8,933	@	WeWork Companies, Inc., Classs A		148,745		0.0
					65,352,364		7.3
			Health Care: 15.5%
	68,800	@	Acadia Pharmaceuticals, Inc.		2,242,192		0.3
	95,800		Agilent Technologies, Inc.		3,980,490		0.4
	36,400	@	Akorn, Inc.		1,729,364		0.2
	38,200		Align Technology, Inc.		2,054,587		0.2
	73,500	@	Alkermes PLC		4,481,295		0.5
	16,600	@	Alnylam Pharmaceuticals, Inc.		1,733,372		0.2
	58,800		AmerisourceBergen Corp.		6,683,796		0.7
	9,800	@,L	Athenahealth, Inc.		1,170,022		0.1
	33,900		BioMarin Pharmaceutical, Inc.		4,224,618		0.5
	7,300	@	Bluebird Bio, Inc.		881,621		0.1
	67,900		Bruker BioSciences Corp.		1,254,113		0.1
	185,784		Catalent, Inc.		5,787,172		0.6
	35,850	@	Catamaran Corp.		2,134,509		0.2
	43,400	@	Cerner Corp.		3,179,484		0.4
	17,400		Cigna Corp.		2,252,256		0.3
	11,800		Clovis Oncology, Inc.		875,914		0.1
	36,500	@	DaVita, Inc.		2,966,720		0.3
	36,400		Dentsply International, Inc.		1,852,396		0.2
	27,700		Dyax, Corp.		464,113		0.1
	53,300		Endo International PLC		4,781,010		0.5
	58,300		Envision Healthcare Holdings, Inc.		2,235,805		0.2
	25,300	@	Henry Schein, Inc.		3,532,386		0.4
	22,300		Humana, Inc.		3,969,846		0.4
	28,500	@	Idexx Laboratories, Inc.		4,402,680		0.5
	58,000	@	Incyte Corp., Ltd.		5,316,280		0.6
	10,100	@	Inovalon Holdings, Inc.		305,121		0.0
	8,150	@	Intercept Pharmaceuticals, Inc.		2,298,463		0.3
	10,200	@	Intuitive Surgical, Inc.		5,151,306		0.6
	41,500	@	Ironwood Pharmaceuticals, Inc.		664,000		0.1
	15,100		Jazz Pharmaceuticals PLC		2,609,129		0.3
	31,700	@	Medidata Solutions, Inc.		1,554,568		0.2
	42,200	@	Mednax, Inc.		3,059,922		0.3
	13,500		Mettler Toledo International, Inc.		4,436,775		0.5
	51,000	@,L	Myriad Genetics, Inc.		1,805,400		0.2
	21,600	@	Neurocrine Biosciences, Inc.		857,736		0.1
	15,700		Pacira Pharmaceuticals, Inc./DE		1,394,945		0.2
	13,100		Puma Biotechnology, Inc.		3,093,041		0.3
	26,200	@	Quintiles Transnational Holdings, Inc.		1,754,614		0.2
	6,900		Receptos, Inc.		1,137,741		0.1
	42,100		Seattle Genetics, Inc.		1,488,235		0.2
	35,900	@	Sirona Dental Systems, Inc.		3,230,641		0.4
	16,200	@	Synageva BioPharma Corp.		1,579,986		0.2
	31,100		Team Health Holdings, Inc.		1,819,661		0.2
	25,600		Teleflex, Inc.		3,093,248		0.3
	52,500	@	Thoratec Corp.		2,199,225		0.2
	12,500	@	United Therapeutics Corp.		2,155,437		0.2
	18,500		Universal Health Services, Inc.		2,177,635		0.2
	102,600	@	Veeva Systems, Inc.		2,619,378		0.3
	52,700	@	Vertex Pharmaceuticals, Inc.		6,217,019		0.7

VY® T. Rowe Price Diversified Mid Cap Growth Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	24,600		WellCare Health Plans, Inc.	$	2,249,916		0.3
	28,100		West Pharmaceutical Services, Inc.		1,691,901		0.2
	113,950		Zoetis, Inc.		5,274,746		0.6
					140,105,830		15.5
			Industrials: 19.5%
	51,300		Alaska Air Group, Inc.		3,395,034		0.4
	56,362		Ametek, Inc.		2,961,259		0.3
	29,400	@	Armstrong World Industries, Inc.		1,689,618		0.2
	26,900		CH Robinson Worldwide, Inc.		1,969,618		0.2
	29,500		Clarcor, Inc.		1,948,770		0.2
	26,900	@	Clean Harbors, Inc.		1,527,382		0.2
	53,300	L	Colfax Corp.		2,544,009		0.3
	35,700		Copa Holdings S.A.		3,604,629		0.4
	44,500	@	Copart, Inc.		1,671,865		0.2
	23,600		Corporate Executive Board Co.		1,884,696		0.2
	17,800	@	CoStar Group, Inc.		3,521,374		0.4
	44,100	@	DigitalGlobe, Inc.		1,502,487		0.2
	85,200		Donaldson Co., Inc.		3,212,892		0.4
	48,300		Equifax, Inc.		4,491,900		0.5
	53,700		Expeditors International Washington, Inc.		2,587,266		0.3
	53,300		Fastenal Co.		2,208,485		0.2
	66,900		Flowserve Corp.		3,779,181		0.4
	71,200		Fortune Brands Home & Security, Inc.		3,380,576		0.4
	35,100	@,L	Generac Holdings, Inc.		1,709,019		0.2
	25,500	@	Genesee & Wyoming, Inc.		2,459,220		0.3
	51,600		Graco, Inc.		3,723,456		0.4
	64,500	@	Hertz Global Holdings, Inc.		1,398,360		0.2
	34,100		Hubbell, Inc.		3,738,042		0.4
	29,600		IDEX Corp.		2,244,568		0.2
	48,300	@	IHS, Inc.		5,494,608		0.6
	30,700	@	Jacobs Engineering Group, Inc.		1,386,412		0.2
	44,300		JB Hunt Transport Services, Inc.		3,782,999		0.4
	37,800		Kansas City Southern		3,858,624		0.4
	60,100		KAR Auction Services, Inc.		2,279,593		0.3
	23,900	L	Landstar System, Inc.		1,584,570		0.2
	42,400		Manpower, Inc.		3,652,760		0.4
	17,800		Middleby Corp.		1,827,170		0.2
	50,700		Nielsen Holdings NV		2,259,699		0.2
	19,800		Nordson Corp.		1,551,132		0.2
	33,100		Paccar, Inc.		2,089,934		0.2
	47,000		Pall Corp.		4,718,330		0.5
	46,800	@	Quanta Services, Inc.		1,335,204		0.1
	106,200		Rexnord Corp.		2,834,478		0.3
	88,400	L	Ritchie Brothers Auctioneers, Inc.		2,204,696		0.2
	41,700		Robert Half International, Inc.		2,523,684		0.3
	36,700		Roper Industries, Inc.		6,312,400		0.7
	130,500	@	Sensata Technologies Holdings N.V.		7,497,225		0.8
	24,500		Snap-On, Inc.		3,602,970		0.4
	147,800		Southwest Airlines Co.		6,547,540		0.7
	39,700		Spirit Airlines, Inc.		3,071,192		0.3
	12,700	@	Stericycle, Inc.		1,783,461		0.2
	45,000		Terex Corp.		1,196,550		0.1
	112,000		Textron, Inc.		4,964,960		0.6
	13,800		Towers Watson & Co.		1,824,153		0.2
	21,000		TransDigm Group, Inc.		4,593,120		0.5
	76,100	@	United Continental Holdings, Inc.		5,117,725		0.6
	13,900	L	Valmont Industries, Inc.		1,708,032		0.2
	82,100	@	Verisk Analytics, Inc.		5,861,940		0.6
	18,600	@	WABCO Holdings, Inc.		2,285,568		0.3
	47,200		Wabtec Corp.		4,484,472		0.5
	36,000		Waste Connections, Inc.		1,733,040		0.2
	18,100		WW Grainger, Inc.		4,268,161		0.5
	74,600		Xylem, Inc.		2,612,492		0.3
					176,002,600		19.5
			Information Technology: 18.6%
	42,900		Akamai Technologies, Inc.		3,047,830		0.3
	8,600		Alliance Data Systems Corp.		2,547,750		0.3
	145,600		Altera Corp.		6,247,696		0.7
	82,600		Amphenol Corp.		4,867,618		0.5
	20,100	@	Ansys, Inc.		1,772,619		0.2
	99,000		ARM Holdings PLC ADR		4,880,700		0.5
	6,856	@	Atlassian, Inc. - Class A Restricted		130,264		0.0
	4,723	@	Atlassian, Inc. - Class A Unrestricted		89,737		0.0
	12,036	@	Atlassian, Inc. - Series 1 Restricted		228,684		0.0
	32,225	@	Atlassian, Inc. - Series 2 Restricted		612,275		0.1
	29,300	@	Autodesk, Inc.		1,718,152		0.2
	21,000	@	Check Point Software Technologies		1,721,370		0.2
	45,800	@	Cognex Corp.		2,271,222		0.3
	107,100	@	CoreLogic, Inc.		3,777,417		0.4
	35,400		DealerTrack Holdings, Inc.		1,363,608		0.2
	44,255	@	Dropbox, Inc. - Class A		845,324		0.1
	19,495	@	Dropbox, Inc. - Class B		372,378		0.0
	29,300	@	EPAM Systems, Inc.		1,795,797		0.2
	13,306		Equinix, Inc.		3,098,302		0.3
	19,200	@	F5 Networks, Inc.		2,206,848		0.2
	11,500		Factset Research Systems, Inc.		1,830,800		0.2
	22,900		FEI Co.		1,748,186		0.2
	94,900		Fidelity National Information Services, Inc.		6,458,894		0.7
	65,200	@	Fiserv, Inc.		5,176,880		0.6
	56,400	@	Fortinet, Inc.		1,971,180		0.2
	58,500	@	Gartner, Inc.		4,905,225		0.5
	77,600	@	Genpact Ltd.		1,804,200		0.2
	36,600		Global Payments, Inc.		3,355,488		0.4
	42,700		Guidewire Software, Inc.		2,246,447		0.3

VY® T. Rowe Price Diversified Mid Cap Growth Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	53,800		Intuit, Inc.	$	5,216,448		0.6
	27,400	@,L	IPG Photonics Corp.		2,539,980		0.3
	34,950		Keysight Technologies, Inc.		1,298,393		0.1
	43,100		KLA-Tencor Corp.		2,512,299		0.3
	36,800	@	LendingClub Corp.		723,120		0.1
	68,800		Linear Technology Corp.		3,219,840		0.4
	25,700	@	LinkedIn Corp.		6,421,402		0.7
	15,300		Mercadolibre, Inc.		1,874,556		0.2
	41,900		Microchip Technology, Inc.		2,048,910		0.2
	57,800	@	Mobileye NV		2,429,334		0.3
	25,100		Motorola Solutions, Inc.		1,673,417		0.2
	31,100	@	NetSuite, Inc.		2,884,836		0.3
	17,900		Palo Alto Networks, Inc.		2,614,832		0.3
	41,000		Paychex, Inc.		2,034,215		0.2
	43,400	@	Rackspace Hosting, Inc.		2,239,006		0.3
	93,700	@	Red Hat, Inc.		7,097,775		0.8
	34,600		Sandisk Corp.		2,201,252		0.2
	74,200	@	ServiceNow, Inc.		5,845,476		0.7
	49,000		Skyworks Solutions, Inc.		4,816,210		0.5
	26,600		Solera Holdings, Inc.		1,374,156		0.2
	31,900	@	Splunk, Inc.		1,888,480		0.2
	16,400	@,L	Stratasys Ltd.		865,592		0.1
	22,800	@	Tableau Software, Inc.		2,109,456		0.2
	100,300	@	Trimble Navigation Ltd.		2,527,560		0.3
	118,200	@	Twitter, Inc.		5,919,456		0.7
	130,800		Vantiv, Inc.		4,931,160		0.5
	75,100	@	VeriSign, Inc.		5,029,447		0.6
	18,699		WEX, Inc.		2,007,525		0.2
	37,647	@	Workday, Inc.		3,177,783		0.4
	73,600		Xilinx, Inc.		3,113,280		0.3
	21,000	@,L	Zillow Group, Inc.		2,106,300		0.2
					167,834,387		18.6
			Materials: 5.9%
	37,300		Airgas, Inc.		3,957,903		0.4
	22,800		Ashland, Inc.		2,902,668		0.3
	74,000		Ball Corp.		5,227,360		0.6
	27,100		Carpenter Technology Corp.		1,053,648		0.1
	87,000		Celanese Corp.		4,859,820		0.5
	6,800		CF Industries Holdings, Inc.		1,929,024		0.2
	19,300		Compass Minerals International, Inc.		1,798,953		0.2
	20,500		Eagle Materials, Inc.		1,712,980		0.2
	166,700		Eldorado Gold Corp.		765,153		0.1
	29,882		FMC Corp.		1,710,744		0.2
	5,800		NewMarket Corp.		2,771,240		0.3
	64,800		RPM International, Inc.		3,109,752		0.3
	30,200		Sherwin-Williams Co.		8,591,900		1.0
	82,500		Silver Wheaton Corp.		1,569,150		0.2
	53,000		Sociedad Quimica y Minera de Chile SA ADR		967,250		0.1
	103,700	@	Stillwater Mining Co		1,339,804		0.2
	53,900		Valspar Corp.		4,529,217		0.5
	52,800		Vulcan Materials Co.		4,451,040		0.5
					53,247,606		5.9
			Telecommunication Services: 1.2%
	74,650		SBA Communications Corp.		8,741,515		1.0
	72,700	@	T-Mobile US, Inc.		2,303,863		0.2
					11,045,378		1.2
			Utilities: 0.3%
	59,600		NiSource, Inc.		2,631,936		0.3
		Total Common Stock
		(Cost $585,917,893)			892,720,350		99.0
PREFERRED STOCK: 0.8%
			Financials: 0.1%
	44,396	@	WeWork Companies, Inc. - Series D-1		739,246		0.1
	34,882	@	WeWork Companies, Inc. - Series D-2		580,827		0.0
					1,320,073		0.1
			Information Technology: 0.7%
	32,391	@	AirBNB, Inc. - Series D		1,318,735		0.1
	24,667	@	Atlassian, Inc. - Class A Unrestricted		468,673		0.1
	23,831	@	Atlassian, Inc. - Series A		452,789		0.0
	24,209	@	Dropbox, Inc. - Series A		462,421		0.1
	118,921	@	Dropbox, Inc. - Series A-1		2,271,534		0.3
	8,859	@	Flipkart - Series G		1,060,954		0.1
					6,035,106		0.7
		Total Preferred Stock
		(Cost $5,770,926)			7,355,179		0.8
		Total Long-Term Investments
		(Cost $591,688,819)			900,075,529		99.8

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.0%
		Securities Lending Collateralcc: 2.8%
	1,245,531	BNP Paribas Bank, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $1,245,535, collateralized by various U.S. Government Agency Obligations, 1.625%-6.000%, Market Value plus accrued interest $1,270,442, due 06/01/16-03/01/45)		1,245,531		0.1

VY® T. Rowe Price Diversified Mid Cap Growth Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateralcc: (continued)
	5,916,860	Daiwa Capital Markets, Repurchase Agreement dated 03/31/15, 0.18%, due 04/01/15 (Repurchase Amount $5,916,889, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.000%, Market Value plus accrued interest $6,035,197, due 02/15/16-03/01/48)	$	5,916,860		0.7
	5,916,860	Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $5,916,896, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $6,035,197, due 08/15/17-02/15/42)		5,916,860		0.7
	5,916,860	Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $5,916,881, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $6,035,197, due 08/18/15-10/20/64)		5,916,860		0.7
	5,916,860	State of Wisconsin Investment Board, Repurchase Agreement dated 03/31/15, 0.23%, due 04/01/15 (Repurchase Amount $5,916,897, collateralized by various U.S. Government Securities, 0.125%-2.500%, Market Value plus accrued interest $6,035,418, due 04/15/16-01/15/29)		5,916,860		0.6
				24,912,971		2.8

Shares				Value			Percentage of Net Assets
			Mutual Funds: 0.2%
	1,952,927		T. Rowe Price Reserve Investment Fund, 0.037%††
			(Cost $1,952,927)		1,952,927			0.2
		Total Short-Term Investments
		(Cost $26,865,898)			26,865,898			3.0
		Total Investments in Securities (Cost $618,554,717)		$	926,941,427			102.8
		Liabilities in Excess of Other Assets			(25,408,608	)		(2.8	)
		Net Assets		$	901,532,819			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.
ADR	American Depositary Receipt
cc	Represents securities purchased with cash collateral received for securities on loan.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.

Cost for federal income tax purposes is $618,697,327.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	323,889,422
Gross Unrealized Depreciation		(15,645,322	)
Net Unrealized Appreciation	$	308,244,100

VY® T. Rowe Price Diversified Mid Cap Growth Portfolio	PORTFOLIO OF INVESTMENTS
	as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary	$	192,911,635	$	–	$	–	$	192,911,635
Consumer Staples		45,512,586		–		–		45,512,586
Energy		38,076,028		–		–		38,076,028
Financials		65,203,619		–		148,745		65,352,364
Health Care		140,105,830		–		–		140,105,830
Industrials		176,002,600		–		–		176,002,600
Information Technology		165,555,725		–		2,278,662		167,834,387
Materials		53,247,606		–		–		53,247,606
Telecommunication Services		11,045,378		–		–		11,045,378
Utilities		2,631,936		–		–		2,631,936
Total Common Stock		890,292,943		–		2,427,407		892,720,350
Preferred Stock		–		–		7,355,179		7,355,179
Short-Term Investments		1,952,927		24,912,971		–		26,865,898
Total Investments, at fair value	$	892,245,870	$	24,912,971	$	9,782,586	$	926,941,427

The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 at March 31, 2015.

Investments, at fair value	Fair Value at March 31, 2015		Valuation Technique(s)	Unobservable Inputs	Range		Impact to Valuation from an Increase in Input
Common Stock	$	1,060,960	Market comparable	Enterprise Value to Sales in Multiple/Price to Free Cash Flow		8x-30x	Increase
		1,366,447	Recent Comparable Transaction Price	Discount Factor*		0.00%	Decrease
	$	2,427,407
Preferred Stock	$	6,433,717	Recent Comparable Transaction Price	Discount Factor*		0.00%	Decrease
		921,462	Market comparable	Enterprise Value to Sales in Multiple/Price to Free Cash Flow		8x-30x	Increase
	$	7,355,179

* No quantitative unobserable inputs were significant to the fair valuation determination at March 31, 2015.

The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolios's assets and liabilities during the period ended March 31, 2015:

	Beginning Balance						Accrued Discounts/		Total Realized		**Net Change in Unrealized Appreciation/		Transfers Into		Transfers Out of		Ending Balance
	12/31/2014		Purchases		Sales		(Premiums)		Gain/(Loss)		(Depreciation)		Level 3		Level 3		3/31/2015
Asset Table
Investments, at fair value
Common Stock*	$	2,427,407	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	2,427,407
Preferred Stock*		7,355,179		-		-		-				-		-		-		7,355,179
Total Investments, at value	$	9,782,586	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	9,782,586

* A security valued at $845,324 was reclassified from Preferred Stock to Common Stock as of March 31, 2015.

** As of March 31, 2015 total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net assets was $0. 

VY® T. Rowe Price Growth Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 98.3%
			Consumer Discretionary: 24.4%
	175,400	@	Amazon.com, Inc.	$	65,266,340		4.1
	27,100	@	Autozone, Inc.		18,486,536		1.2
	112,100		BorgWarner, Inc.		6,779,808		0.4
	205,500	@	Carmax, Inc.		14,181,555		0.9
	5,300		Chipotle Mexican Grill, Inc.		3,447,862		0.2
	31,700	@	Ctrip.com International Ltd. ADR		1,858,254		0.1
	101,500		Delphi Automotive PLC		8,093,610		0.5
	3,088	@	Flipkart Online Services Pvt. Ltd.		351,328		0.0
	1,054	@	Flipkart Online Services Pvt. Ltd., - Series A		119,916		0.0
	1,862	@	Flipkart Online Services Pvt. Ltd., - Series C		213,664		0.0
	3,462	@	Flipkart Online Services Pvt. Ltd., - Series E		400,663		0.1
	467,300		Hanesbrands, Inc.		15,659,223		1.0
	143,900		Home Depot, Inc.		16,348,479		1.0
	152,700		Las Vegas Sands Corp.		8,404,608		0.5
	292,500		Lowe's Cos, Inc.		21,759,075		1.4
	756,160	@	MGM Resorts International		15,902,044		1.0
	29,400	@	NetFlix, Inc.		12,250,686		0.8
	97,100		Nike, Inc.		9,742,043		0.6
	141,100	@,L	Pandora Media, Inc.		2,287,231		0.1
	41,559	@	Priceline.com, Inc.		48,380,910		3.0
	86,100		Ross Stores, Inc.		9,071,496		0.6
	175,400		Starbucks Corp.		16,610,380		1.0
	82,300	@,L	Tesla Motors, Inc.		15,535,771		1.0
	190,200		Tractor Supply Co.		16,178,412		1.0
	54,200		Under Armour, Inc.		4,376,650		0.3
	592,200	@	Vipshop Holdings Ltd. ADR		17,434,368		1.1
	221,400		Walt Disney Co.		23,222,646		1.4
	2,719,600	@	Wynn Macau Ltd.		5,877,390		0.3
	106,760		Wynn Resorts Ltd.		13,438,949		0.8
					391,679,897		24.4
			Consumer Staples: 2.8%
	51,200		Costco Wholesale Corp.		7,756,544		0.5
	169,500		CVS Caremark Corp.		17,494,095		1.1
	75,800		Estee Lauder Cos., Inc.		6,303,528		0.4
	156,500		Walgreens Boots Alliance, Inc.		13,252,420		0.8
					44,806,587		2.8
			Energy: 2.3%
	19,100		Concho Resources, Inc.		2,214,072		0.1
	112,700		Continental Resources, Inc.		4,921,609		0.3
	28,700		EOG Resources, Inc.		2,631,503		0.2
	113,200		EQT Corp.		9,380,884		0.6
	61,100		Pioneer Natural Resources Co.		9,990,461		0.6
	142,581		Range Resources Corp.		7,419,915		0.5
					36,558,444		2.3
			Financials: 6.1%
	247,900		American Tower Corp.		23,339,785		1.5
	19,900		Blackrock, Inc.		7,280,216		0.4
	221,312		Crown Castle International Corp.		18,267,092		1.1
	48,100		Intercontinental Exchange, Inc.		11,220,287		0.7
	499,100		Morgan Stanley		17,812,879		1.1
	144,600		State Street Corp.		10,632,438		0.7
	244,700		TD Ameritrade Holding Corp.		9,117,522		0.6
					97,670,219		6.1
			Health Care: 21.4%
	125,431	@	Actavis PLC		37,330,774		2.3
	141,100	@	Alexion Pharmaceuticals, Inc.		24,452,630		1.5
	57,200		Anthem, Inc.		8,832,252		0.6
	76,800	@	Biogen, Inc.		32,428,032		2.0
	81,400		BioMarin Pharmaceutical, Inc.		10,144,068		0.6
	215,016		Celgene Corp.		24,787,045		1.5
	339,400	@	Gilead Sciences, Inc.		33,305,322		2.1
	81,600		Humana, Inc.		14,526,432		0.9
	124,500	@	Incyte Corp., Ltd.		11,411,670		0.7
	38,600	@	Intuitive Surgical, Inc.		19,494,158		1.2
	156,700		McKesson Corp.		35,445,540		2.2
	77,000	@	Pharmacyclics, Inc.		19,708,150		1.2
	27,600	@	Regeneron Pharmaceuticals, Inc.		12,460,848		0.8
	118,000		UnitedHealth Group, Inc.		13,958,220		0.9
	174,600	@	Valeant Pharmaceuticals International, Inc. - USD		34,679,052		2.2
	92,500	@	Vertex Pharmaceuticals, Inc.		10,912,225		0.7
					343,876,418		21.4
			Industrials: 12.2%
	575,100		American Airlines Group, Inc.		30,353,778		1.9
	187,100		Boeing Co.		28,079,968		1.8
	402,900		Danaher Corp.		34,206,210		2.1
	70,200		FedEx Corp.		11,614,590		0.7
	154,200		Flowserve Corp.		8,710,758		0.5
	78,300		JB Hunt Transport Services, Inc.		6,686,429		0.4
	111,500		Precision Castparts Corp.		23,415,000		1.5
	104,700		Roper Industries, Inc.		18,008,400		1.1
	189,600		Tyco International Plc		8,164,176		0.5
	201,640	@	United Continental Holdings, Inc.		13,560,290		0.9
	136,200		Wabtec Corp.		12,940,362		0.8
					195,739,961		12.2
			Information Technology: 26.8%
	279,792	@	Alibaba Group Holding Ltd. ADR		23,289,886		1.4
	387,000		Apple, Inc.		48,154,410		3.0
	61,900		ASML Holding NV-NY REG		6,253,757		0.4
	124,500	@	Baidu.com ADR		25,945,800		1.6
	143,343	@	Dropbox, Inc. - Class A		2,738,023		0.2

VY® T. Rowe Price Growth Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	467,500		Facebook, Inc.	$	38,435,512		2.4
	81,700	@	Fiserv, Inc.		6,486,980		0.4
	76,050		Google, Inc. - Class A		42,184,935		2.6
	80,750		Google, Inc. - Class C		44,251,000		2.8
	50,800	@	LinkedIn Corp.		12,692,888		0.8
	84,501	@	LivingSocial.com		21,971		0.0
	390,400		Mastercard, Inc.		33,726,656		2.1
	142,200	@	Mobileye NV		5,976,666		0.4
	78,200	@	NetSuite, Inc.		7,253,832		0.5
	6,155		NAVER Corp.		3,713,332		0.2
	28,200		Palo Alto Networks, Inc.		4,119,456		0.3
	143,100	@	Red Hat, Inc.		10,839,825		0.7
	347,564	@	Salesforce.com, Inc.		23,220,751		1.4
	85,300		Sandisk Corp.		5,426,786		0.3
	104,900	@	ServiceNow, Inc.		8,264,022		0.5
	694,400		Tencent Holdings Ltd.		13,186,598		0.8
	226,500	@	Twitter, Inc.		11,343,120		0.7
	705,600		Visa, Inc.		46,153,296		2.9
	78,300	@	Workday, Inc.		6,609,303		0.4
					430,288,805		26.8
			Materials: 2.3%
	61,500		Ashland, Inc.		7,829,565		0.5
	124,000		Du Pont E I de Nemours & Co.		8,862,280		0.6
	37,500		Martin Marietta Materials, Inc.		5,242,500		0.3
	49,700		Sherwin-Williams Co.		14,139,650		0.9
					36,073,995		2.3
		Total Common Stock
		(Cost $1,055,532,591)			1,576,694,326		98.3
PREFERRED STOCK: 0.2%
			Information Technology: 0.2%
	59,241	@	AirBNB, Inc. - Series D		2,411,880		0.1
	16,556	@	Flipkart - Series G		1,982,747		0.1
		Total Preferred Stock
		(Cost $4,394,627)			4,394,627		0.2
		Total Long-Term Investments
		(Cost $1,059,927,218)			1,581,088,953		98.5

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.0%
		Securities Lending Collateralcc: 1.1%
	884,840	BNP Paribas Bank, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $884,843, collateralized by various U.S. Government Agency Obligations, 1.625%-6.000%, Market Value plus accrued interest $902,537, due 06/01/16-03/01/45)		884,840		0.0
	4,203,358	Daiwa Capital Markets, Repurchase Agreement dated 03/31/15, 0.18%, due 04/01/15 (Repurchase Amount $4,203,379, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.000%, Market Value plus accrued interest $4,287,425, due 02/15/16-03/01/48)		4,203,358		0.3
	4,203,358	Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $4,203,383, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $4,287,425, due 08/15/17-02/15/42)		4,203,358		0.3
	4,203,358	Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $4,203,373, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $4,287,425, due 08/18/15-10/20/64)		4,203,358		0.3
	4,203,358	State of Wisconsin Investment Board, Repurchase Agreement dated 03/31/15, 0.23%, due 04/01/15 (Repurchase Amount $4,203,384, collateralized by various U.S. Government Securities, 0.125%-2.500%, Market Value plus accrued interest $4,287,582, due 04/15/16-01/15/29)		4,203,358		0.2
				17,698,272		1.1

VY® T. Rowe Price Growth Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.9%
	29,624,000		T. Rowe Price Reserve Investment Fund, 0.037%††
			(Cost $29,624,000)	$	29,624,000			1.9
		Total Short-Term Investments
		(Cost $47,322,272)			47,322,272			3.0
		Total Investments in Securities (Cost $1,107,249,490)		$	1,628,411,225			101.5
		Liabilities in Excess of Other Assets			(24,775,175	)		(1.5	)
		Net Assets		$	1,603,636,050			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
††	Rate shown is the 7-day yield as of March 31, 2015.
@	Non-income producing security.
ADR	American Depositary Receipt
cc	Represents securities purchased with cash collateral received for securities on loan.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.

Cost for federal income tax purposes is $1,109,115,524.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	542,897,306
Gross Unrealized Depreciation		(23,601,605	)
Net Unrealized Appreciation	$	519,295,701

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary	$	384,716,936	$	5,877,390	$	1,085,571	$	391,679,897
Consumer Staples		44,806,587		–		–		44,806,587
Energy		36,558,444		–		–		36,558,444
Financials		97,670,219		–		–		97,670,219
Health Care		343,876,418		–		–		343,876,418
Industrials		195,739,961		–		–		195,739,961
Information Technology		410,628,881		16,899,930		2,759,994		430,288,805
Materials		36,073,995		–		–		36,073,995
Total Common Stock		1,550,071,441		22,777,320		3,845,565		1,576,694,326
Preferred Stock		–		–		4,394,627		4,394,627
Short-Term Investments		29,624,000		17,698,272		–		47,322,272
Total Investments, at fair value	$	1,579,695,441	$	40,475,592	$	8,240,192	$	1,628,411,225

VY® T. Rowe Price Growth Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

# 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 Portfolio 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 Portfolio's investments are categorized as Level 2 investments.

VY® Templeton Foreign Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 97.5%
			Australia: 0.5%
	1,820,998	@	Qantas Airways Ltd.	$	4,319,230		0.5
			Brazil: 0.2%
	345,617	@,L	Petroleo Brasileiro SA ADR		2,077,158		0.2
			Canada: 0.9%
	1,054,600	L	Talisman Energy, Inc. - TSX		8,085,086		0.9
			China: 6.2%
	2,585,000		China Life Insurance Co., Ltd.		11,363,033		1.3
	774,500		China Mobile Ltd.		10,093,589		1.2
	1,559,000		China Shenhua Energy Co., Ltd.		3,976,540		0.5
	4,266,600	L	China South Locomotive and Rolling Stock Corp.		5,635,490		0.6
	21,246,000		China Telecom Corp., Ltd.		13,582,822		1.6
	4,230,000		Kunlun Energy Co. Ltd.		4,108,420		0.5
	1,176,000	@	Weichai Power Co. Ltd.		4,534,095		0.5
					53,293,989		6.2
			France: 12.6%
	546,136		AXA S.A.		13,745,742		1.6
	273,888		BNP Paribas		16,664,931		2.0
	191,520		Cie de Saint-Gobain		8,409,094		1.0
	140,074		Cie Generale des Etablissements Michelin		13,929,597		1.6
	638,860		Credit Agricole SA		9,387,985		1.1
	137,452		GDF Suez		2,713,708		0.3
	228,121		Sanofi		22,528,925		2.6
	71,310		Technip S.A.		4,313,368		0.5
	242,964		Total S.A.		12,076,967		1.4
	177,530		Vivendi		4,407,660		0.5
					108,177,977		12.6
			Germany: 11.7%
	114,661		Bayer AG		17,155,040		2.0
	129,840		Deutsche Boerse AG		10,596,066		1.2
	144,348		Deutsche Post AG		4,497,128		0.5
	292,476		E.ON AG		4,348,787		0.5
	156,915		HeidelbergCement AG		12,409,152		1.4
	569,995		Infineon Technologies AG		6,781,165		0.8
	147,358		Merck KGaA		16,491,923		1.9
	193,800	L	Metro AG		6,567,825		0.8
	34,327		Muenchener Rueckversicherungs-Gesellschaft AG		7,376,232		0.9
	58,986		SAP SE		4,263,336		0.5
	95,240		Siemens AG		10,300,561		1.2
					100,787,215		11.7
			Hong Kong: 3.1%
	1,268,500		AIA Group Ltd.		7,964,259		0.9
	228,400		Cheung Kong Holdings Ltd. ADR		4,611,396		0.5
	710,000		Hutchison Whampoa Ltd.		9,841,206		1.2
	6,871,000		Noble Group Ltd.		4,602,451		0.5
					27,019,312		3.1
			India: 1.2%
	496,486		Housing Development Finance Corp.		10,438,699		1.2
			Israel: 1.8%
	253,929		Teva Pharmaceutical Industries Ltd. ADR		15,819,777		1.8
			Italy: 3.2%
	680,187		ENI S.p.A.		11,772,728		1.4
	1,637,488		Intesa Sanpaolo S.p.A.		5,557,617		0.6
	1,493,810		UniCredit SpA		10,129,921		1.2
					27,460,266		3.2
			Japan: 7.1%
	822,200		Itochu Corp.		8,897,749		1.0
	307,800	L	Nikon Corp.		4,127,147		0.5
	1,282,100		Nissan Motor Co., Ltd.		13,039,666		1.5
	240,400		Suntory Beverage & Food Ltd.		10,293,717		1.2
	1,040,000		Toshiba Corp.		4,357,666		0.5
	213,900		Toyota Motor Corp.		14,931,017		1.8
	154,300		Trend Micro, Inc.		5,084,263		0.6
					60,731,225		7.1
			Netherlands: 6.3%
	192,108		Akzo Nobel NV		14,525,155		1.7
	150,904	@	Qiagen NV		3,786,831		0.4
	360,976		Royal Dutch Shell PLC - Class B		11,244,468		1.3
	216,195		Koninklijke Philips NV		6,133,421		0.7
	374,301	@,L	SBM Offshore NV		4,652,244		0.6
	1,321,130		TNT Express NV		8,391,522		1.0
	121,810		Unilever NV		5,090,123		0.6
					53,823,764		6.3
			Norway: 1.8%
	166,074		Statoil ASA		2,936,422		0.3
	627,793	L	Telenor ASA		12,669,105		1.5
					15,605,527		1.8
			Portugal: 0.7%
	564,750		Galp Energia SGPS SA		6,107,359		0.7
			Russia: 0.8%
	392,715		MMC Norilsk Nickel ADR		6,970,691		0.8
			Singapore: 3.0%
	886,582		DBS Group Holdings Ltd.		13,146,110		1.5
	3,902,000		Singapore Telecommunications Ltd.		12,451,433		1.5
					25,597,543		3.0
			South Korea: 5.5%
	171,216		Hana Financial Group, Inc.		4,428,932		0.5
	26,854		Hyundai Mobis		5,948,311		0.7

VY® Templeton Foreign Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			South Korea: (continued)
	247,680		KB Financial Group, Inc. ADR	$	8,703,475		1.0
	58,716		POSCO ADR		3,209,417		0.4
	17,817		POSCO		3,894,226		0.5
	32,501		Samsung Electronics Co., Ltd. GDR		20,903,330		2.4
					47,087,691		5.5
			Spain: 2.0%
	178,256	@	Repsol YPF S.A.		3,318,285		0.4
	948,067		Telefonica S.A.		13,490,474		1.6
					16,808,759		2.0
			Sweden: 1.3%
	364,710	L	Telefonaktiebolaget LM Ericsson		4,578,913		0.5
	282,620	L	Getinge AB		6,983,201		0.8
					11,562,114		1.3
			Switzerland: 7.0%
	553,081		Credit Suisse Group AG		14,880,062		1.7
	122,547		Novartis AG		12,095,449		1.4
	72,606		Roche Holding AG - Genusschein		19,951,555		2.3
	142,055		Swiss Re Ltd.		13,702,336		1.6
					60,629,402		7.0
			Taiwan: 0.5%
	948,251	@	Taiwan Semiconductor Manufacturing Co., Ltd.		4,407,055		0.5
			Thailand: 0.3%
	388,300	@	Bangkok Bank PCL - Foreign		2,198,233		0.3
			United Kingdom: 19.8%
	1,446,095		Aviva PLC		11,572,878		1.3
	1,403,493		BAE Systems PLC		10,876,410		1.3
	2,345,820		Barclays PLC		8,467,264		1.0
	1,593,584		BP PLC		10,329,827		1.2
	609,930		Sky PLC		8,973,242		1.0
	482,904		CRH PLC - London		12,546,820		1.5
	821,996		GlaxoSmithKline PLC		18,922,217		2.2
	1,466,000		HSBC Holdings PLC		12,545,700		1.5
	2,809,874		Kingfisher PLC		15,853,445		1.8
	7,476,467		Lloyds TSB Group PLC		8,666,216		1.0
	1,730,630		Marks & Spencer Group PLC		13,687,265		1.6
	430,980		Petrofac Ltd.		6,067,376		0.7
	702,723		Rexam PLC		6,022,550		0.7
	475,511		Standard Chartered PLC		7,701,681		0.9
	2,612,090	@	Tesco PLC		9,323,960		1.1
	2,762,541		Vodafone Group PLC		9,039,893		1.0
					170,596,744		19.8
		Total Common Stock
		(Cost $670,374,796)			839,604,816		97.5
RIGHTS: 0.0%
			Spain: 0.0%
	948,067	@	Telefonica SA		152,911		0.0
		Total Rights
		(Cost $–)			152,911		0.0
		Total Long-Term Investments
		(Cost $670,374,796)			839,757,727		97.5

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.8%
		U.S. Government Agency Obligations: 0.7%
	6,000,000	Freddie Mac Discount Notes, 0.060%, 04/01/15
		(Cost $6,000,000)		6,000,000		0.7
		Securities Lending Collateralcc: 3.1%
	1,330,893	BNP Paribas Bank, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $1,330,898, collateralized by various U.S. Government Agency Obligations, 1.625%-6.000%, Market Value plus accrued interest $1,357,511, due 06/01/16-03/01/45)		1,330,893		0.2
	6,322,310	Daiwa Capital Markets, Repurchase Agreement dated 03/31/15, 0.18%, due 04/01/15 (Repurchase Amount $6,322,341, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-8.000%, Market Value plus accrued interest $6,448,756, due 02/15/16-03/01/48)		6,322,310		0.7
	6,322,310	Merrill Lynch & Co., Inc., Repurchase Agreement dated 03/31/15, 0.15%, due 04/01/15 (Repurchase Amount $6,322,336, collateralized by various U.S. Government Agency Obligations, 0.000%-7.000%, Market Value plus accrued interest $6,448,756, due 06/01/15-04/01/45)		6,322,310		0.7

VY® Templeton Foreign Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Principal Amount†				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
			U.S. Government Agency Obligations (continued)
	6,322,310		Millenium Fixed Income Ltd., Repurchase Agreement dated 03/31/15, 0.22%, due 04/01/15 (Repurchase Amount $6,322,348, collateralized by various U.S. Government Securities, 0.875%-3.125%, Market Value plus accrued interest $6,448,756, due 08/15/17-02/15/42)	$	6,322,310			0.8
	6,322,310		Nomura Securities, Repurchase Agreement dated 03/31/15, 0.13%, due 04/01/15 (Repurchase Amount $6,322,333, collateralized by various U.S. Government Agency Obligations, 1.280%-7.500%, Market Value plus accrued interest $6,448,756, due 08/18/15-10/20/64)		6,322,310			0.7
					26,620,133			3.1
		Total Short-Term Investments
		(Cost $32,620,133)			32,620,133			3.8
		Total Investments in Securities (Cost $702,994,929)		$	872,377,860			101.3
		Liabilities in Excess of Other Assets			(10,845,840	)		(1.3	)
		Net Assets		$	861,532,020			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
@	Non-income producing security.
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
cc	Represents securities purchased with cash collateral received for securities on loan.
L	Loaned security, a portion or all of the security is on loan at March 31, 2015.

Cost for federal income tax purposes is $705,439,583.

Net unrealized appreciation consists of:

Gross Unrealized Appreciation	$	231,132,697
Gross Unrealized Depreciation		(64,194,420	)
Net Unrealized Appreciation	$	166,938,277

Sector Diversification	Percentage of Net Assets
Financials		24.8	%
Health Care		15.4
Energy		10.6
Consumer Discretionary		10.5
Industrials		10.5
Telecommunication Services		8.9
Materials		7.0
Information Technology		5.3
Consumer Staples		3.7
Utilities		0.8
Short-Term Investments		3.8
Liabilities in Excess of Other Assets		(1.3	)
Net Assets		100.0	%

VY® Templeton Foreign Equity Portfolio PORTFOLIO OF INVESTMENTS
as of March 31, 2015 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of March 31, 2015 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 March 31, 2015
Asset Table
Investments, at fair value
Common Stock
Australia	$	–	$	4,319,230	$	–	$	4,319,230
Brazil		2,077,158		–		–		2,077,158
Canada		8,085,086		–		–		8,085,086
China		–		53,293,989		–		53,293,989
France		–		108,177,977		–		108,177,977
Germany		–		100,787,215		–		100,787,215
Hong Kong		4,611,396		22,407,916		–		27,019,312
India		–		10,438,699		–		10,438,699
Israel		15,819,777		–		–		15,819,777
Italy		–		27,460,266		–		27,460,266
Japan		–		60,731,225		–		60,731,225
Netherlands		–		53,823,764		–		53,823,764
Norway		–		15,605,527		–		15,605,527
Portugal		–		6,107,359		–		6,107,359
Russia		6,970,691		–		–		6,970,691
Singapore		–		25,597,543		–		25,597,543
South Korea		11,912,892		35,174,799		–		47,087,691
Spain		–		16,808,759		–		16,808,759
Sweden		–		11,562,114		–		11,562,114
Switzerland		–		60,629,402		–		60,629,402
Taiwan		–		4,407,055		–		4,407,055
Thailand		–		–		–		2,198,233
United Kingdom		–		170,596,744		–		170,596,744
Total Common Stock		49,477,000		787,929,583		–		839,604,816
Rights		152,911		–		–		152,911
Short-Term Investments		–		32,620,133		–		32,620,133
Total Investments, at fair value	$	49,629,911	$	820,549,716	$	–	$	872,377,860

# 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 Portfolio 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 Portfolio's investments are categorized as Level 2 investments.

Quarterly Holdings Report
for

Fidelity^® Variable Insurance Products:

Contrafund^® Portfolio

March 31, 2015

Investments March 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks — 99.0%
	Shares		Value
CONSUMER DISCRETIONARY – 14.6%
Automobiles – 0.2%
Harley-Davidson, Inc.		636,000	$	38,630,640
Diversified Consumer Services – 0.6%
2U, Inc.		34,958		894,226
H&R Block, Inc.		3,368,157		108,016,795
				108,911,021
Hotels, Restaurants & Leisure – 3.8%
ARAMARK Holdings Corp.		862,000		27,265,060
Extended Stay America, Inc. unit		6,480,927		126,572,504
McDonald's Corp.		2,273,484		221,528,281
Panera Bread Co. Class A (a)		845,997		135,355,290
Starbucks Corp.		2,068,400		195,877,480
Wynn Resorts Ltd.		456,400		57,451,632
				764,050,247
Internet & Catalog Retail – 2.7%
Amazon.com, Inc. (a)		157,900		58,754,590
Ctrip.com International Ltd. sponsored ADR (a)		791,734		46,411,447
Liberty Interactive Corp. Series A (a)		6,815,006		198,930,025
Priceline Group, Inc. (a)		144,148		167,809,894
Travelport Worldwide Ltd. (d)		3,618,840		60,434,628
				532,340,584
Media – 3.6%
Comcast Corp. Class A		630,006		35,576,439
DIRECTV (a)		717,619		61,069,377
DreamWorks Animation SKG, Inc. Class A (a)(d)		3,099,117		74,998,631
Legend Pictures LLC (a)(f)(g)		2,062		4,953,563
Liberty Media Corp. Class C (a)		3,836,800		146,565,760
Manchester United PLC (a)		1,849,700		29,428,727
The Madison Square Garden Co. Class A (a)		2,576,357		218,088,620
Time Warner Cable, Inc.		43,800		6,564,744
Twenty-First Century Fox, Inc. Class A		4,111,107		139,119,861
Weinstein Co. Holdings LLC Class A-1 (a)(f)(g)		11,499		3,035,736
				719,401,458
Multiline Retail – 1.5%
B&M European Value Retail S.A.		16,384,767		75,953,635
Dollar General Corp.		2,991,820		225,523,392
Poundland Group PLC		385,222		2,084,607
				303,561,634
Specialty Retail – 0.8%
GameStop Corp. Class A		53,300		2,023,268
Michaels Companies, Inc.		1,518,272		41,084,440
TJX Companies, Inc.		1,764,807		123,624,730
				166,732,438
Textiles, Apparel & Luxury Goods – 1.4%
lululemon athletica, Inc. (a)		807,962		51,725,727

	Shares		Value
NIKE, Inc. Class B		1,984,835	$	199,138,496
PVH Corp.		205,000		21,844,800
				272,709,023
TOTAL CONSUMER DISCRETIONARY				2,906,337,045
CONSUMER STAPLES – 9.2%
Beverages – 1.8%
Anheuser-Busch InBev SA NV		230,171		28,118,930
Coca-Cola Icecek Sanayi A/S		325,515		5,504,890
Diageo PLC sponsored ADR		204,942		22,660,437
Embotelladora Andina SA sponsored ADR		403,527		6,073,081
Monster Beverage Corp. (a)		330,310		45,713,252
Pernod Ricard SA		118,079		13,985,134
Remy Cointreau SA		50,045		3,686,046
The Coca-Cola Co.		5,487,106		222,502,148
				348,243,918
Food & Staples Retailing – 2.3%
CVS Health Corp.		2,000,464		206,467,889
Kroger Co.		1,543,482		118,323,330
Sysco Corp.		1,389,396		52,421,911
Wal-Mart Stores, Inc.		623,091		51,249,235
Whole Foods Market, Inc.		674,200		35,112,336
				463,574,701
Food Products – 1.4%
Bunge Ltd.		488,512		40,233,848
Keurig Green Mountain, Inc.		380,419		42,504,215
Mead Johnson Nutrition Co. Class A		1,031,689		103,715,695
Mondelez International, Inc.		744,500		26,869,005
Nestle SA		255,697		19,254,608
The Hershey Co.		489,290		49,374,254
				281,951,625
Household Products – 1.4%
Colgate-Palmolive Co.		674,300		46,755,962
Procter & Gamble Co.		2,774,484		227,341,219
				274,097,181
Personal Products – 0.2%
Estee Lauder Companies, Inc. Class A		482,000		40,083,120
L'Oreal SA		31,600		5,822,113
				45,905,233
Tobacco – 2.1%
Altria Group, Inc.		4,013,854		200,772,977
British American Tobacco PLC sponsored ADR		1,985,379		206,022,779
Souza Cruz SA		703,000		5,594,836
				412,390,592
TOTAL CONSUMER STAPLES				1,826,163,250

 Quarterly Report 2

Common Stocks – continued
	Shares		Value
ENERGY – 8.0%
Energy Equipment & Services – 1.1%
Baker Hughes, Inc.		280,300	$	17,821,474
C&J Energy Services Ltd. (a)		1,211,739		13,486,655
Dril-Quip, Inc. (a)		255,392		17,466,259
Halliburton Co.		2,047,082		89,825,958
Independence Contract Drilling, Inc.		1,223,029		8,524,512
Oceaneering International, Inc.		547,362		29,519,233
Schlumberger Ltd.		668,300		55,762,952
				232,407,043
Oil, Gas & Consumable Fuels – 6.9%
Anadarko Petroleum Corp.		1,666,252		137,982,328
Apache Corp.		640,300		38,629,299
BG Group PLC		1,962,636		24,088,880
Cabot Oil & Gas Corp.		1,512,135		44,653,347
Chevron Corp.		2,762,400		289,996,752
Cimarex Energy Co.		610,400		70,250,936
Columbia Pipeline Partners LP		495,706		13,726,099
EOG Resources, Inc.		955,874		87,644,087
EP Energy Corp. (a)(d)		1,744,389		18,281,197
Exxon Mobil Corp.		2,049,702		174,224,670
Kinder Morgan, Inc.		2,818,143		118,531,095
Memorial Resource Development Corp.		1,397,200		24,786,328
Noble Energy, Inc.		2,065,200		100,988,280
Parsley Energy, Inc. Class A (d)		1,032,551		16,500,165
Phillips 66 Co.		1,261,439		99,149,105
PrairieSky Royalty Ltd. (d)		715,750		16,885,721
SM Energy Co.		181,000		9,354,080
Suncor Energy, Inc.		2,405,495		70,291,240
Valero Energy Partners LP		365,900		17,709,560
				1,373,673,169
TOTAL ENERGY				1,606,080,212
FINANCIALS – 15.8%
Banks – 7.1%
Bank of America Corp.		22,522,114		346,615,334
Citigroup, Inc.		7,622,350		392,703,472
Huntington Bancshares, Inc.		8,023,981		88,664,990
JPMorgan Chase & Co.		5,054,106		306,177,741
SunTrust Banks, Inc.		1,135,425		46,654,613
Synovus Financial Corp.		964,323		27,010,687
U.S. Bancorp		4,653,444		203,215,899
				1,411,042,736
Capital Markets – 2.4%
Ameriprise Financial, Inc.		323,043		42,266,946
Artisan Partners Asset Management, Inc.		224,900		10,223,954
BlackRock, Inc. Class A		273,013		99,879,076
E*TRADE Financial Corp. (a)		1,553,878		44,370,986
Goldman Sachs Group, Inc.		804,400		151,203,068

	Shares		Value
Invesco Ltd.		565,857	$	22,458,864
Northern Trust Corp.		510,764		35,574,713
Oaktree Capital Group LLC Class A		331,134		17,106,382
State Street Corp.		345,200		25,382,556
The Blackstone Group LP		743,437		28,912,265
				477,378,810
Consumer Finance – 2.2%
Capital One Financial Corp.		4,091,948		322,527,341
Navient Corp.		2,174,576		44,209,130
SLM Corp.		4,685,976		43,485,857
Springleaf Holdings, Inc. (a)		726,000		37,585,020
				447,807,348
Diversified Financial Services – 0.8%
Berkshire Hathaway, Inc.:
Class A (a)		47		10,222,500
Class B (a)		555,400		80,155,328
IntercontinentalExchange Group, Inc.		209,509		48,872,164
KBC Ancora (a)		401,778		13,768,216
				153,018,208
Insurance – 1.5%
Direct Line Insurance Group PLC		7,526,800		35,617,164
Fairfax Financial Holdings Ltd. (sub. vtg.)		50,586		28,357,396
Marsh & McLennan Companies, Inc.		1,098,070		61,590,746
MetLife, Inc.		892,387		45,110,163
Principal Financial Group, Inc.		688,800		35,383,656
The Chubb Corp.		809,200		81,810,120
Unum Group		627,800		21,175,694
				309,044,939
Real Estate Investment Trusts – 1.4%
Altisource Residential Corp. Class B		1,891,182		39,450,057
American Tower Corp.		262,900		24,752,035
Boston Properties, Inc.		403,400		56,669,632
Digital Realty Trust, Inc.		835,700		55,122,772
Duke Realty LP		919,400		20,015,338
InfraReit, Inc.		197,600		5,649,384
Outfront Media, Inc.		420,614		12,584,771
Sun Communities, Inc.		772,269		51,525,788
The Macerich Co.		93,800		7,910,154
				273,679,931
Real Estate Management & Development – 0.4%
CBRE Group, Inc. (a)		1,971,489		76,316,339
Thrifts & Mortgage Finance – 0.0%
Ocwen Financial Corp. (a)(d)		678,600		5,598,450
TOTAL FINANCIALS				3,153,886,761
HEALTH CARE – 15.3%
Biotechnology – 4.8%
Actelion Ltd.		29,477		3,415,425
Alexion Pharmaceuticals, Inc. (a)		589,332		102,131,236
Amgen, Inc.		1,118,120		178,731,482

3 Quarterly Report 

Investments (Unaudited) - continued  

Common Stocks – continued
	Shares		Value
HEALTH CARE – continued
Biotechnology – continued
Biogen, Inc. (a)		420,831	$	177,691,681
BioMarin Pharmaceutical, Inc. (a)		455,793		56,800,924
Celgene Corp. (a)		1,363,900		157,230,392
Cellectis SA sponsored ADR		59,900		2,071,941
Gilead Sciences, Inc. (a)		2,146,361		210,622,405
Vertex Pharmaceuticals, Inc. (a)		521,000		61,462,370
				950,157,856
Health Care Equipment & Supplies – 2.9%
Boston Scientific Corp. (a)		7,889,349		140,035,945
Edwards Lifesciences Corp. (a)		266,242		37,928,835
Medtronic PLC		3,019,890		235,521,221
Quidel Corp. (a)(d)		439,231		11,850,452
The Cooper Companies, Inc.		352,420		66,050,556
Zimmer Holdings, Inc.		665,200		78,174,304
				569,561,313
Health Care Providers & Services – 2.8%
Brookdale Senior Living, Inc. (a)		1,202,233		45,396,318
Cigna Corp.		1,031,526		133,520,725
HCA Holdings, Inc. (a)		931,814		70,100,367
Henry Schein, Inc. (a)		337,441		47,113,512
McKesson Corp.		786,700		177,951,540
UnitedHealth Group, Inc.		762,100		90,148,809
				564,231,271
Life Sciences Tools & Services – 0.9%
Agilent Technologies, Inc.		1,253,700		52,091,235
Fluidigm Corp. (a)		312,345		13,149,725
Thermo Fisher Scientific, Inc.		875,113		117,562,680
				182,803,640
Pharmaceuticals – 3.9%
AbbVie, Inc.		464,021		27,163,789
Actavis PLC (a)		829,052		246,742,456
Bristol-Myers Squibb Co.		2,849,405		183,786,623
Endo Health Solutions, Inc. (a)		316,600		28,399,020
Mallinckrodt PLC (a)		540,700		68,479,655
Merck & Co., Inc.		619,105		35,586,155
Roche Holding AG (participation certificate)		138,596		38,085,086
Shire PLC		815,774		65,036,046
Teva Pharmaceutical Industries Ltd. sponsored ADR		1,375,300		85,681,190
				778,960,020
TOTAL HEALTH CARE				3,045,714,100

	Shares		Value
INDUSTRIALS – 9.1%
Aerospace & Defense – 1.3%
Meggitt PLC		9,866,973	$	80,282,122
TransDigm Group, Inc.		844,036		184,607,554
				264,889,676
Air Freight & Logistics – 0.6%
FedEx Corp.		652,892		108,020,981
Electrical Equipment – 1.3%
AMETEK, Inc.		5,064,449		266,086,150
Industrial Conglomerates – 2.8%
Danaher Corp.		3,275,221		278,066,263
Roper Industries, Inc.		1,571,256		270,256,032
				548,322,295
Machinery – 1.4%
Deere & Co.		1,322,400		115,961,256
Pall Corp.		938,600		94,226,054
WABCO Holdings, Inc. (a)		532,900		65,482,752
				275,670,062
Professional Services – 0.3%
Verisk Analytics, Inc. (a)		866,249		61,850,179
Road & Rail – 0.9%
J.B. Hunt Transport Services, Inc.		2,152,433		183,807,016
Trading Companies & Distributors – 0.5%
HD Supply Holdings, Inc. (a)		3,342,897		104,147,956
TOTAL INDUSTRIALS				1,812,794,315
INFORMATION TECHNOLOGY – 18.4%
Communications Equipment – 1.7%
Cisco Systems, Inc.		3,612,139		99,424,126
QUALCOMM, Inc.		3,310,335		229,538,629
				328,962,755
Electronic Equipment & Components – 0.4%
Samsung SDI Co. Ltd.		90,320		11,117,636
TE Connectivity Ltd.		776,064		55,581,704
Trimble Navigation Ltd. (a)		880,900		22,198,680
				88,898,020
Internet Software & Services – 4.7%
58.com, Inc. ADR (a)		347,537		18,377,757
Alibaba Group Holding Ltd. sponsored ADR (d)		1,798,700		149,723,788
ChannelAdvisor Corp. (a)		932,595		9,036,846
Cvent, Inc. (a)		1,811,413		50,792,021
Demandware, Inc. (a)		82,460		5,021,814
Facebook, Inc. Class A (a)		2,821,976		232,008,757
Five9, Inc.		1,354,600		7,531,576
Google, Inc. Class C (a)		699,184		383,152,832
HomeAway, Inc. (a)		1,066,362		32,172,142
Opower, Inc. (d)		2,242,240		22,713,891
Twitter, Inc. (a)		170,600		8,543,648

 Quarterly Report 4

Common Stocks – continued
	Shares		Value
INFORMATION TECHNOLOGY – continued
Internet Software & Services – continued
Wix.com Ltd. (a)		421,665	$	8,079,101
Zoopla Property Group PLC (d)		3,840,858		10,295,434
				937,449,607
IT Services – 0.6%
Fidelity National Information Services, Inc.		187,600		12,768,056
Lionbridge Technologies, Inc. (a)		796,595		4,556,523
Sabre Corp.		2,905,086		70,593,590
Total System Services, Inc.		852,700		32,530,505
				120,448,674
Semiconductors & Semiconductor Equipment – 3.1%
Altera Corp.		799,400		34,302,254
Analog Devices, Inc.		409,100		25,773,300
Broadcom Corp. Class A		336,000		14,547,120
Intel Corp.		2,863,400		89,538,518
Marvell Technology Group Ltd.		12,024,100		176,754,270
Maxim Integrated Products, Inc.		344,100		11,978,121
Micron Technology, Inc. (a)		1,101,400		29,880,982
NVIDIA Corp.		1,555,200		32,542,560
NXP Semiconductors NV (a)		831,659		83,465,297
Qorvo, Inc. (a)		1,458,857		116,270,903
				615,053,325
Software – 3.0%
Activision Blizzard, Inc.		485,200		11,026,170
Adobe Systems, Inc. (a)		1,688,129		124,820,258
Autodesk, Inc. (a)		557,300		32,680,072
Citrix Systems, Inc. (a)		128,800		8,226,456
Fleetmatics Group PLC (a)		384,494		17,244,556
Imperva, Inc. (a)		1,345,847		57,467,667
Intuit, Inc.		877,802		85,111,682
Oracle Corp.		1,360,793		58,718,218
RealPage, Inc. (a)		1,316,927		26,522,910
salesforce.com, Inc. (a)		1,798,857		120,181,636
Xero Ltd. (a)(d)		1,272,305		22,923,323
Yodlee, inc. (d)		511,243		6,881,331
Zendesk, Inc.		1,100,200		24,963,538
				596,767,817
Technology Hardware, Storage & Peripherals – 4.9%
Apple, Inc.		6,452,092		802,833,813
Electronics for Imaging, Inc. (a)		720,106		30,064,426
Hewlett-Packard Co.		3,260,500		101,597,180
SanDisk Corp.		327,500		20,835,550
Western Digital Corp.		295,700		26,911,657
				982,242,626
TOTAL INFORMATION TECHNOLOGY				3,669,822,824

	Shares		Value
MATERIALS – 4.1%
Chemicals – 3.5%
Airgas, Inc.		1,412,755	$	149,907,433
CF Industries Holdings, Inc.		116,100		32,935,248
E.I. du Pont de Nemours & Co.		1,297,800		92,753,766
Eastman Chemical Co.		704,641		48,803,436
Ecolab, Inc.		1,285,400		147,024,052
FMC Corp.		679,432		38,897,482
LyondellBasell Industries NV Class A		520,124		45,666,887
Methanex Corp.		378,877		20,284,749
Monsanto Co.		693,876		78,088,805
W.R. Grace & Co. (a)		379,322		37,503,566
				691,865,424
Construction Materials – 0.1%
Eagle Materials, Inc.		343,400		28,694,504
Containers & Packaging – 0.3%
Graphic Packaging Holding Co.		1,425,733		20,730,158
Rock-Tenn Co. Class A		686,796		44,298,342
				65,028,500
Metals & Mining – 0.2%
Nucor Corp.		829,700		39,435,641
TOTAL MATERIALS				825,024,069
TELECOMMUNICATION SERVICES – 1.7%
Diversified Telecommunication Services – 1.5%
Cogent Communications Group, Inc.		308,538		10,900,648
inContact, Inc. (a)		1,403,117		15,293,975
Level 3 Communications, Inc. (a)		567,086		30,531,910
Verizon Communications, Inc.		5,090,468		247,549,459
				304,275,992
Wireless Telecommunication Services – 0.2%
SoftBank Corp.		80,200		4,670,804
T-Mobile U.S., Inc. (a)		999,598		31,677,261
Telephone & Data Systems, Inc.		274,133		6,825,912
				43,173,977
TOTAL TELECOMMUNICATION SERVICES				347,449,969
UTILITIES – 2.8%
Electric Utilities – 1.3%
Edison International		536,126		33,491,791
Exelon Corp.		2,059,292		69,212,804
NextEra Energy, Inc.		937,800		97,578,090
PPL Corp.		1,881,400		63,327,924
				263,610,609
Gas Utilities – 0.1%
National Fuel Gas Co.		325,175		19,617,808

5 Quarterly Report 

Investments (Unaudited) - continued

Common Stocks – continued
	Shares		Value
UTILITIES – continued
Independent Power and Renewable Electricity Producers – 0.2%
Calpine Corp. (a)		94,200	$	2,154,354
NRG Energy, Inc.		1,485,452		37,418,536
				39,572,890
Multi-Utilities – 1.2%
Dominion Resources, Inc.		1,079,031		76,470,927
NiSource, Inc.		963,277		42,538,312
PG&E Corp.		740,034		39,273,604
Sempra Energy		705,550		76,919,061
				235,201,904
TOTAL UTILITIES				558,003,211
TOTAL COMMON STOCKS
(Cost $15,091,114,489)				19,751,275,756
Preferred Stocks — 0.2%
Convertible Preferred Stocks – 0.1%
ENERGY – 0.1%
Oil, Gas & Consumable Fuels – 0.1%
Southwestern Energy Co. Series B 6.25%		452,200		22,786,358
INFORMATION TECHNOLOGY – 0.0%
Software – 0.0%
MongoDB, Inc. Series F, 8.00% (a)(g)		299,866		2,470,896
TOTAL CONVERTIBLE PREFERRED STOCKS				25,257,254
Nonconvertible Preferred Stocks – 0.1%
CONSUMER STAPLES – 0.1%
Beverages – 0.1%
Ambev SA sponsored ADR		1,523,650		8,776,224
TOTAL PREFERRED STOCKS
(Cost $33,501,852)				34,033,478
U.S. Treasury Obligations — 0.0%
		Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.01% to 0.02% 4/9/15 to 6/4/15 (e) (Cost $6,849,916)	$	6,850,000		6,849,878

Money Market Funds — 2.4%
	Shares		Value
Fidelity Cash Central Fund, 0.14% (b)		325,674,093	$	325,674,093
Fidelity Securities Lending Cash Central Fund, 0.15% (b)(c)		161,872,525		161,872,525
TOTAL MONEY MARKET FUNDS
(Cost $487,546,618)				487,546,618
TOTAL INVESTMENT PORTFOLIO – 101.6%
(Cost $15,619,012,875)				20,279,705,730
NET OTHER ASSETS (LIABILITIES) – (1.6)%				(325,690,270	)
NET ASSETS – 100%			$	19,954,015,460

Futures Contracts
	Expiration Date	Underlying Face Amount at Value		Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
778 CME E-mini S&P 500 Index Contracts (United States)	June 2015	$	80,165,120	$	166,064

The face value of futures purchased as a percentage of net assets is 0.4%

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $3,776,899.

(f) Investment is owned by an entity that is treated as a corporation for U.S. tax purposes and is owned by the Fund.

(g) Restricted securities – Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $10,460,195 or 0.1% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
Legend Pictures LLC	9/23/10	$	1,546,500
MongoDB, Inc. Series F, 8.00%	10/2/13	$	5,014,998
Weinstein Co. Holdings LLC Class A-1	10/19/05	$	11,499,000

 Quarterly Report 6

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$	120,394
Fidelity Securities Lending Cash Central Fund		338,546
Total	$	458,940

Other Information

The following is a summary of the inputs used, as of March 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total		Level 1		Level 2		Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$	2,906,337,045	$	2,898,347,746	$	—	$	7,989,299
Consumer Staples		1,834,939,474		1,787,565,936		47,373,538		—
Energy		1,628,866,570		1,604,777,690		24,088,880		—
Financials		3,153,886,761		3,153,886,761		—		—
Health Care		3,045,714,100		2,942,592,968		103,121,132		—
Industrials		1,812,794,315		1,812,794,315		—		—
Information Technology		3,672,293,720		3,669,822,824		—		2,470,896
Materials		825,024,069		825,024,069		—		—
Telecommunication Services		347,449,969		342,779,165		4,670,804		—
Utilities		558,003,211		558,003,211		—		—
U.S. Government and Government Agency Obligations		6,849,878		—		6,849,878		—
Money Market Funds		487,546,618		487,546,618		—		—
Total Investments in Securities:	$	20,279,705,730	$	20,083,141,303	$	186,104,232	$	10,460,195
Derivative Instruments:
Assets
Futures Contracts	$	166,064	$	166,064	$	—	$	—

Income Tax Information

At March 31, 2015, the cost of investment securities for income tax purposes was $15,647,841,160. Net unrealized appreciation aggregated $4,631,864,570, of which $5,046,220,228 related to appreciated investment securities and $414,355,658 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 – quoted prices in active markets for identical investments: Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

7 Quarterly Report 

Investments (Unaudited) - continued

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

 Quarterly Report 8

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.

9 Quarterly Report 

Quarterly Holdings Report

for

Fidelity^® Variable Insurance Products:

Equity-lncome Portfolio

March 31, 2015

Investments March 31, 2015(Unaudited)

Showing Percentage of Net Assets

Common Stocks — 92.5%
	Shares		Value
CONSUMER DISCRETIONARY – 8.8%
Automobiles – 0.1%
Ford Motor Co.		287,361	$	4,638,007
Hotels, Restaurants & Leisure – 2.5%
Darden Restaurants, Inc. (i)		537,199		37,249,379
Dunkin' Brands Group, Inc.		267,900		12,741,324
McDonald's Corp.		467,600		45,562,944
Texas Roadhouse, Inc. Class A		328,697		11,974,432
Yum! Brands, Inc.		586,800		46,192,896
				153,720,975
Household Durables – 0.5%
M.D.C. Holdings, Inc. (f)		434,300		12,377,550
Qingdao Haier Co. Ltd.		1,638,700		6,830,230
Tupperware Brands Corp.		207,500		14,321,650
				33,529,430
Leisure Products – 0.6%
Mattel, Inc.		511,100		11,678,635
New Academy Holding Co. LLC unit (a)(k)(l)		127,200		24,776,016
				36,454,651
Media – 1.5%
Comcast Corp. Class A		1,385,943		78,264,201
Sinclair Broadcast Group, Inc. Class A		498,504		15,658,011
				93,922,212
Multiline Retail – 2.4%
Kohl's Corp. (i)		385,775		30,186,894
Macy's, Inc.		465,300		30,202,623
Target Corp. (i)		1,090,060		89,461,224
				149,850,741
Specialty Retail – 0.8%
Foot Locker, Inc.		404,085		25,457,355
GNC Holdings, Inc.		430,000		21,100,100
				46,557,455
Textiles, Apparel & Luxury Goods – 0.4%
Japan Tobacco, Inc.		717,300		22,677,343
TOTAL CONSUMER DISCRETIONARY				541,350,814
CONSUMER STAPLES – 8.5%
Beverages – 0.8%
Anheuser-Busch InBev SA NV ADR		133,000		16,214,030
Molson Coors Brewing Co. Class B		450,200		33,517,390
				49,731,420
Food & Staples Retailing – 2.4%
CVS Health Corp.		689,800		71,194,258
Tesco PLC		1,920,600		6,855,690
Wal-Mart Stores, Inc.		385,378		31,697,341
Walgreens Boots Alliance, Inc.		419,707		35,540,789
				145,288,078

	Shares		Value
Food Products – 1.0%
B&G Foods, Inc. Class A		287,313	$	8,455,622
Kellogg Co.		748,957		49,393,714
Sanderson Farms, Inc. (f)		42,600		3,393,090
				61,242,426
Household Products – 2.4%
Procter & Gamble Co.		1,808,319		148,173,659
Personal Products – 0.3%
Avon Products, Inc.		1,806,000		14,429,940
Tobacco – 1.6%
Lorillard, Inc.		601,215		39,289,400
Philip Morris International, Inc.		430,984		32,466,025
Reynolds American, Inc. (i)		392,600		27,054,066
				98,809,491
TOTAL CONSUMER STAPLES				517,675,014
ENERGY – 9.4%
Energy Equipment & Services – 0.6%
Ensco PLC Class A		731,776		15,418,520
National Oilwell Varco, Inc.		223,706		11,183,063
Oceaneering International, Inc.		176,600		9,524,038
				36,125,621
Oil, Gas & Consumable Fuels – 8.8%
Anadarko Petroleum Corp.		345,486		28,609,696
Apache Corp.		593,068		35,779,792
BG Group PLC		1,412,500		17,336,655
Cameco Corp.		318,700		4,441,242
Chevron Corp. (i)		1,646,280		172,826,474
CONSOL Energy, Inc.		551,435		15,379,522
Foresight Energy LP		380,700		5,935,113
HollyFrontier Corp.		152,485		6,140,571
Kinder Morgan, Inc.		714,800		30,064,488
Legacy Reserves LP		1,001,001		10,130,130
Markwest Energy Partners LP		618,329		40,871,547
Suncor Energy, Inc.		1,940,700		56,709,413
The Williams Companies, Inc.		1,815,749		91,858,742
Williams Partners LP		505,556		24,883,466
				540,966,851
TOTAL ENERGY				577,092,472
FINANCIALS – 25.4%
Banks – 12.4%
Bank of America Corp.		2,610,400		40,174,056
BB&T Corp.		158,900		6,195,511
CIT Group, Inc.		187,438		8,457,203
Comerica, Inc.		621,848		28,064,000
First Niagara Financial Group, Inc.		1,779,614		15,731,788
FirstMerit Corp.		1,135,620		21,644,917
JPMorgan Chase & Co.		4,169,564		252,592,187
KeyCorp		588,395		8,331,673
M&T Bank Corp.		569,391		72,312,657

 Quarterly Report 2

Common Stocks – continued
	Shares		Value
FINANCIALS – continued
Banks – continued
PNC Financial Services Group, Inc.		168,500	$	15,710,940
Regions Financial Corp.		1,427,000		13,485,150
Standard Chartered PLC (United Kingdom)		1,125,797		18,261,529
SunTrust Banks, Inc.		1,153,900		47,413,751
TCF Financial Corp.		164,800		2,590,656
U.S. Bancorp		1,813,738		79,205,938
Valley National Bancorp (f)		549,200		5,184,448
Wells Fargo & Co.		2,293,586		124,771,078
				760,127,482
Capital Markets – 5.9%
Apollo Global Management LLC Class A		302,742		6,539,227
Apollo Investment Corp. (f)		2,591,463		19,889,479
Ares Capital Corp.		1,475,295		25,330,815
Ares Management LP		588,100		10,903,374
Carlyle Group LP		299,200		8,108,320
Greenhill & Co., Inc.		185,003		7,335,369
KKR & Co. LP		4,306,421		98,229,463
Morgan Stanley		681,075		24,307,567
Pershing Square Holdings Ltd. (a)		88,400		2,342,600
State Street Corp.		550,419		40,472,309
The Blackstone Group LP		2,905,626		112,999,795
TPG Specialty Lending, Inc.		398,000		6,849,580
				363,307,898
Insurance – 4.5%
ACE Ltd.		506,011		56,415,166
Allied World Assurance Co.		344,600		13,921,840
MetLife, Inc.		1,747,670		88,344,719
Prudential Financial, Inc.		357,462		28,707,773
The Chubb Corp.		464,300		46,940,730
The Travelers Companies, Inc.		372,045		40,229,226
				274,559,454
Real Estate Investment Trusts – 2.5%
American Capital Agency Corp.		1,203,948		25,680,211
American Homes 4 Rent (g)		262,132		4,338,285
Annaly Capital Management, Inc.		2,189,509		22,770,894
Coresite Realty Corp.		162,447		7,907,920
Cousins Properties, Inc.		850,300		9,013,180
Duke Realty LP		609,000		13,257,930
First Potomac Realty Trust		1,276,157		15,173,507
Home Properties, Inc.		171,272		11,867,437
Piedmont Office Realty Trust, Inc. Class A		490,424		9,126,791
Retail Properties America, Inc.		659,732		10,575,504
Sabra Health Care REIT, Inc.		189,317		6,275,859
Two Harbors Investment Corp.		873,534		9,276,931
Ventas, Inc.		84,390		6,162,158
				151,426,607

	Shares		Value
Thrifts & Mortgage Finance – 0.1%
Radian Group, Inc.		385,508	$	6,472,679
TOTAL FINANCIALS				1,555,894,120
HEALTH CARE – 10.5%
Biotechnology – 0.4%
Amgen, Inc. (i)		151,771		24,260,594
Health Care Equipment & Supplies – 1.7%
Baxter International, Inc.		354,100		24,255,850
DENTSPLY International, Inc.		208,800		10,625,832
Medtronic PLC		614,952		47,960,106
Meridian Bioscience, Inc.		388,088		7,404,719
St. Jude Medical, Inc.		174,646		11,421,848
				101,668,355
Health Care Providers & Services – 0.3%
UnitedHealth Group, Inc.		170,723		20,194,824
Pharmaceuticals – 8.1%
AbbVie, Inc.		248,900		14,570,606
Astellas Pharma, Inc.		690,300		11,310,497
GlaxoSmithKline PLC		1,980,200		45,584,089
Johnson & Johnson (i)		2,557,368		257,271,215
Merck & Co., Inc.		438,094		25,181,643
Pfizer, Inc. (i)		3,642,012		126,705,597
Sanofi SA		183,732		18,145,199
				498,768,846
TOTAL HEALTH CARE				644,892,619
INDUSTRIALS – 11.0%
Aerospace & Defense – 1.7%
The Boeing Co.		237,000		35,568,960
United Technologies Corp.		603,971		70,785,401
				106,354,361
Air Freight & Logistics – 2.5%
C.H. Robinson Worldwide, Inc.		208,328		15,253,776
PostNL NV (a)		3,595,900		15,319,039
United Parcel Service, Inc. Class B		1,283,337		124,406,689
				154,979,504
Airlines – 0.2%
Copa Holdings SA Class A		108,000		10,904,760
Commercial Services & Supplies – 0.5%
KAR Auction Services, Inc.		542,500		20,577,025
Republic Services, Inc.		155,726		6,316,247
				26,893,272
Electrical Equipment – 0.9%
Eaton Corp. PLC		502,700		34,153,438
Emerson Electric Co.		333,394		18,876,768
				53,030,206
Industrial Conglomerates – 3.5%
General Electric Co.		8,619,976		213,861,605

3  Quarterly Report 

Investments (Unaudited) - continued

Common Stocks – continued
	Shares		Value
INDUSTRIALS – continued
Machinery – 0.9%
Cummins, Inc.		78,300	$	10,855,512
Deere & Co.		287,500		25,210,875
Stanley Black & Decker, Inc.		213,953		20,402,558
				56,468,945
Professional Services – 0.2%
Acacia Research Corp. (f)		589,426		6,306,858
Bureau Veritas SA		272,100		5,848,585
				12,155,443
Road & Rail – 0.2%
Daqin Railway Co. Ltd. (A Shares)		6,426,100		11,433,161
Trading Companies & Distributors – 0.4%
Watsco, Inc.		210,800		26,497,560
TOTAL INDUSTRIALS				672,578,817
INFORMATION TECHNOLOGY – 11.3%
Communications Equipment – 2.9%
Cisco Systems, Inc.		5,044,131		138,839,706
QUALCOMM, Inc.		589,139		40,850,898
				179,690,604
Electronic Equipment & Components – 0.6%
Hitachi Ltd.		1,378,000		9,411,538
TE Connectivity Ltd.		339,761		24,333,683
				33,745,221
Internet Software & Services – 0.9%
Google, Inc. Class A (a)		31,000		17,195,700
Yahoo!, Inc. (a)		792,300		35,205,851
				52,401,551
IT Services – 2.7%
IBM Corp.		635,123		101,937,242
Paychex, Inc.		1,258,331		62,432,093
				164,369,335
Semiconductors & Semiconductor Equipment – 1.6%
Applied Materials, Inc. (i)		1,631,500		36,806,640
Broadcom Corp. Class A		1,015,260		43,955,682
Maxim Integrated Products, Inc.		473,900		16,496,459
Xilinx, Inc.		80,500		3,405,150
				100,663,931
Software – 1.5%
Microsoft Corp. (i)		2,231,024		90,702,281
Technology Hardware, Storage & Peripherals – 1.1%
EMC Corp.		1,541,300		39,395,628
First Data Holdings, Inc. Class B (l)		6,341,091		28,217,855
				67,613,483
TOTAL INFORMATION TECHNOLOGY				689,186,406

	Shares		Value
MATERIALS – 1.4%
Chemicals – 0.6%
LyondellBasell Industries NV Class A		103,515	$	9,088,617
Potash Corp. of Saskatchewan, Inc.		555,300		17,901,306
Tronox Ltd. Class A		459,600		9,343,668
				36,333,591
Metals & Mining – 0.8%
Commercial Metals Co.		730,527		11,827,232
Freeport-McMoRan, Inc.		1,033,178		19,578,723
Nucor Corp.		259,200		12,319,776
SunCoke Energy Partners LP		169,017		3,598,372
				47,324,103
TOTAL MATERIALS				83,657,694
TELECOMMUNICATION SERVICES – 3.6%
Diversified Telecommunication Services – 2.9%
AT&T, Inc.		1,785,393		58,293,081
TDC A/S (f)		2,171,400		15,562,119
Verizon Communications, Inc.		2,103,459		102,291,211
				176,146,411
Wireless Telecommunication Services – 0.7%
Vodafone Group PLC		13,392,280		43,823,902
TOTAL TELECOMMUNICATION SERVICES				219,970,313
UTILITIES – 2.6%
Electric Utilities – 2.5%
American Electric Power Co., Inc.		573,148		32,239,575
Exelon Corp.		1,529,500		51,406,495
PPL Corp. (i)		654,700		22,037,202
Southern Co. (i)		1,044,989		46,272,113
				151,955,385
Independent Power and Renewable Electricity Producers – 0.1%
Abengoa Yield PLC		252,800		8,539,584
TOTAL UTILITIES				160,494,969
TOTAL COMMON STOCKS (Cost $4,577,154,056)				5,662,793,238

Preferred Stocks – 1.4%

Convertible Preferred Stocks – 1.0%
ENERGY – 0.1%
Oil, Gas & Consumable Fuels – 0.1%
Southwestern Energy Co. Series B 6.25%	116,800	5,885,552
FINANCIALS – 0.1%
Real Estate Investment Trusts – 0.1%
Crown Castle International Corp. 4.50%	55,700	5,839,031

 Quarterly Report 4

Preferred Stocks – continued
	Shares		Value
Convertible Preferred Stocks – continued
HEALTH CARE – 0.2%
Health Care Equipment & Supplies – 0.1%
Alere, Inc. 3.00%		20,623	$	6,857,148
Pharmaceuticals – 0.1%
Actavis PLC 5.50%		2,700		2,732,400
TOTAL HEALTH CARE				9,589,548
INDUSTRIALS – 0.1%
Aerospace & Defense – 0.1%
United Technologies Corp. 7.50%		113,700		6,997,098
TELECOMMUNICATION SERVICES – 0.1%
Wireless Telecommunication Services – 0.1%
T-Mobile U.S., Inc. Series A 5.50% (a)		140,600		8,247,596
UTILITIES – 0.4%
Electric Utilities – 0.3%
Exelon Corp. 6.50%		123,200		5,993,680
NextEra Energy, Inc. Series E, 5.599%		158,600		10,797,488
				16,791,168
Independent Power and Renewable Electricity Producers – 0.0%
Dynegy, Inc. 5.375% (a)		25,000		2,728,750
Multi-Utilities – 0.1%
CenterPoint Energy, Inc. 2.00% ZENS (a)		120,200		7,903,150
TOTAL UTILITIES				27,423,068
TOTAL CONVERTIBLE PREFERRED STOCKS				63,981,893
Nonconvertible Preferred Stocks – 0.4%
FINANCIALS – 0.4%
Consumer Finance – 0.4%
Ally Financial, Inc.:
7.00% (g)		18,256		18,646,793
Series A, 8.50%		155,954		4,159,293
				22,806,086
TOTAL PREFERRED STOCKS (Cost $75,261,964)				86,787,979

Corporate Bonds – 2.8%

	Principal Amount (d)
Convertible Bonds – 2.2%
CONSUMER DISCRETIONARY – 0.3%
Automobiles – 0.1%
Volkswagen International Finance NV 5.5% 11/9/15 (g)	EUR	6,400,000	9,572,306
Household Durables – 0.1%
Lennar Corp. 3.25% 11/15/21 (g)	$	1,890,000	4,215,881

	Principal Amount (d)		Value
Media – 0.1%
Liberty Media Corp. 3.5% 1/15/31	$	7,360,000	$	4,054,955
TOTAL CONSUMER DISCRETIONARY				17,843,142
CONSUMER STAPLES – 0.1%
Tobacco – 0.1%
Vector Group Ltd. 2.5% 1/15/19 (i)		4,143,000		5,840,292
ENERGY – 0.2%
Oil, Gas & Consumable Fuels – 0.2%
Amyris, Inc. 3% 2/27/17		1,383,000		1,197,056
Clean Energy Fuels Corp. 5.25% 10/1/18 (g)		2,190,000		1,579,538
Scorpio Tankers, Inc. 2.375% 7/1/19 (g)		8,300,000		8,574,938
Ship Finance International Ltd. 3.25% 2/1/18		3,590,000		3,580,156
				14,931,688
FINANCIALS – 0.3%
Insurance – 0.1%
FNF Group 4.25% 8/15/18		3,560,000		7,177,850
Thrifts & Mortgage Finance – 0.2%
MGIC Investment Corp. 9% 4/1/63 (g)		10,438,000		13,252,085
TOTAL FINANCIALS				20,429,935
HEALTH CARE – 0.6%
Health Care Providers & Services – 0.5%
HealthSouth Corp. 2% 12/1/43		4,448,000		5,482,160
WellPoint, Inc. 2.75% 10/15/42		12,800,000		26,440,000
				31,922,160
Pharmaceuticals – 0.1%
Jazz Investments I Ltd. 1.875% 8/15/21 (g)		2,580,000		3,002,475
TOTAL HEALTH CARE				34,924,635
INFORMATION TECHNOLOGY – 0.6%
Communications Equipment – 0.2%
InterDigital, Inc. 1.5% 3/1/20 (g)		8,130,000		8,074,106
Liberty Interactive LLC 0.75% 3/30/43		2,480,000		3,461,150
				11,535,256
Semiconductors & Semiconductor Equipment – 0.3%
GT Advanced Technologies, Inc.:
3% 10/1/17 (d)		5,999,492		1,215,200
3% 12/15/20 (d)		5,580,000		1,729,800
Intel Corp. 3.25% 8/1/39		4,280,000		6,757,050

5  Quarterly Report 

Investments (Unaudited) - continued

Corporate Bonds – continued

	Principal Amount (d)		Value
Convertible Bonds – continued
INFORMATION TECHNOLOGY – continued
Semiconductors & Semiconductor Equipment – continued
Microchip Technology, Inc. 1.625% 2/15/25 (g)	$	5,460,000	$	5,668,163
Micron Technology, Inc. 3% 11/15/43		3,430,000		3,792,294
				19,162,507
Software – 0.1%
TiVo, Inc. 2% 10/1/21 (g)		3,660,000		3,424,388
TOTAL INFORMATION TECHNOLOGY				34,122,151
UTILITIES – 0.1%
Electric Utilities – 0.1%
NRG Yield, Inc. 3.5% 2/1/19 (g)		5,040,000		5,926,284
TOTAL CONVERTIBLE BONDS				134,018,127
Nonconvertible Bonds – 0.6%
CONSUMER DISCRETIONARY – 0.1%
Media – 0.1%
Altice SA 7.625% 2/15/25 (g)		7,475,000		7,489,016
CONSUMER STAPLES – 0.1%
Food Products – 0.1%
Post Holdings, Inc. 7.375% 2/15/22		3,100,000		3,208,500
ENERGY – 0.0%
Oil, Gas & Consumable Fuels – 0.0%
Western Refining, Inc. 6.25% 4/1/21		1,155,000		1,149,225
FINANCIALS – 0.0%
Capital Markets – 0.0%
Argos Merger Sub, Inc. 7.125% 3/15/23 (g)		2,900,000		3,005,125
HEALTH CARE – 0.1%
Health Care Providers & Services – 0.1%
HCA Holdings, Inc. 4.25% 10/15/19		3,380,000		3,472,950
Kindred Escrow Corp. II 8.75% 1/15/23 (g)		2,800,000		3,066,000
				6,538,950
INDUSTRIALS – 0.1%
Commercial Services & Supplies – 0.1%
APX Group, Inc. 8.75% 12/1/20		4,460,000		4,114,350

	Principal Amount (d)		Value
MATERIALS – 0.1%
Metals & Mining – 0.1%
JMC Steel Group, Inc. 8.25% 3/15/18 (g)	$	4,200,000	$	3,528,000
Walter Energy, Inc. 8.5% 4/15/21		5,250,000		315,000
				3,843,000
TELECOMMUNICATION SERVICES – 0.0%
Wireless Telecommunication Services – 0.0%
T-Mobile U.S.A., Inc. 6.5% 1/15/24		2,280,000		2,382,600
UTILITIES – 0.1%
Independent Power and Renewable Electricity Producers – 0.1%
Dynegy Finance I, Inc./Dynegy Finance II, Inc. 7.375% 11/1/22 (g)		3,350,000		3,521,688
TOTAL NONCONVERTIBLE BONDS				35,252,454
TOTAL CORPORATE BONDS (Cost $156,802,414)				169,270,581

Bank Loan Obligations — 0.1%

HEALTH CARE – 0.0%
Health Care Providers & Services – 0.0%
HCA Holdings, Inc. Tranche B 4LN, term loan 3.0254% 5/1/18 (j)	3,413,306	3,413,306
INDUSTRIALS – 0.1%
Machinery – 0.1%
Generac Power Systems, Inc. Tranche B, term loan 3.25% 5/31/20 (j)	5,618,171	5,576,035
TOTAL BANK LOAN OBLIGATIONS (Cost $8,964,147)		8,989,341

Preferred Securities — 0.0%

FINANCIALS – 0.0%
Diversified Financial Services – 0.0%
Baggot Securities Ltd. 10.24% (g)(h) (Cost $3,931,535)	EUR	2,560,000	2,925,445

 Quarterly Report 6

Money Market Funds — 5.1%

	Shares		Value
Fidelity Cash Central Fund, 0.14% (b)		286,795,273	$	286,795,273
Fidelity Securities Lending Cash Central Fund, 0.15% (b)(c)		24,054,666		24,054,666
TOTAL MONEY MARKET FUNDS (Cost $310,849,939)				310,849,939
TOTAL INVESTMENT PORTFOLIO – 101.9% (Cost $5,132,964,055)				6,241,616,523
NET OTHER ASSETS (LIABILITIES) – (1.9)%				(118,555,987	)
NET ASSETS – 100%			$	6,123,060,536

Written Options

	Expiration
	Date/Exercise	Number of
	Price	Contracts		Premium		Value
Call Options
Amgen, Inc.	4/17/15 - $160.00		272	$	183,261	$	(95,200	)
Applied Materials, Inc.	4/17/15 - $26.00		5,370		437,333		(42,960	)
Chevron Corp.	6/19/15 - $120.00		3,901		495,778		(64,367	)
Darden Restaurants, Inc.	4/17/15 - $60.00		2,670		739,617		(2,536,499	)
Johnson & Johnson	7/17/15 - $105.00		12,291		1,511,757		(1,720,740	)
Kohl's Corp.	4/17/15 - $70.00		1,898		412,958		(1,556,360	)
Microsoft Corp.	5/15/15 - $45.00		5,308		420,040		(69,004	)
Microsoft Corp.	4/17/15 - $45.00		5,308		229,639		(7,962	)
Pfizer, Inc.	4/17/15 - $35.00		18,478		575,577		(720,642	)
PPL Corp.	7/17/15 - $35.00		2,962		122,920		(192,530	)
Reynolds American, Inc.	5/15/15 - $67.50		2,334		464,199		(1,003,620	)
Southern Co.	5/15/15 - $47.00		4,981		174,584		(72,225	)
Target Corp.	4/17/15 - $80.00		3,148		547,866		(804,314	)
TOTAL WRITTEN OPTIONS				$	6,315,529	$	8,886,423

7  Quarterly Report 

Investments (Unaudited) - continued

Currency Abbreviations

EUR — European Monetary Unit

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Non-income producing – Security is in default.

(e) Amount is stated in United States dollars unless otherwise noted.

(f) Security or a portion of the security is on loan at period end.

(g) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $109,810,513 or 1.8% of net assets.

(h) Security is perpetual in nature with no stated maturity date.

(i) Security or a portion of the security is pledged as collateral for call options written. At period end, the value of securities pledged amounted to $374,240,908.

(j) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(k) Investment is owned by an entity that is treated as a U.S. Corporation for tax purposes in which the Fund holds a percentage ownership.

(l) Restricted securities – Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $52,993,871 or 0.9% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
First Data Holdings, Inc. Class B	6/26/14	$	25,364,364
New Academy Holding Co. LLC unit	8/1/11	$	13,406,880

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$	93,922
Fidelity Securities Lending Cash Central Fund		71,112
Total	$	165,034

Other Information

The following is a summary of the inputs used, as of March 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total			Level 1			Level 2		Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$	541,350,814		$	493,897,455		$	22,677,343	$	24,776,016
Consumer Staples		517,675,014			510,819,324			6,855,690		—
Energy		582,978,024			565,641,369			17,336,655		—
Financials		1,584,539,237			1,565,892,444			18,646,793		—
Health Care		654,482,167			579,442,382			75,039,785		—
Industrials		679,575,915			679,575,915			—		—
Information Technology		689,186,406			651,557,013			9,411,538		28,217,855
Materials		83,657,694			83,657,694			—		—
Telecommunication Services		228,217,909			184,394,007			43,823,902		—
Utilities		187,918,037			180,014,887			7,903,150		—
Corporate Bonds		169,270,581			—			169,270,581		—
Bank Loan Obligations		8,989,341			—			8,989,341		—
Preferred Securities		2,925,445			—			2,925,445		—
Money Market Funds		310,849,939			310,849,939			—		—
Total Investments in Securities:	$	6,241,616,523		$	5,805,742,429		$	382,880,223	$	52,993,871
Derivative Instruments:
Liabilities
Written Options	$	(8,886,423	)	$	(8,886,423	)	$	—	$	—

 Quarterly Report 8

Income Tax Information

At March 31, 2015, the cost of investment securities for income tax purposes was $5,139,217,441. Net unrealized appreciation aggregated $1,102,399,082, of which $1,387,735,119 related to appreciated investment securities and $285,336,037 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 – quoted prices in active markets for identical investments: Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds, bank loan obligations, and preferred securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

9  Quarterly Report 

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.

 Quarterly Report 10

Quarterly Holdings Report
for

Fidelity^® Variable Insurance Products:

Mid Cap Portfolio

March 31, 2015

Investments March 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks — 99.9%
	Shares		Value
CONSUMER DISCRETIONARY – 17.5%
Auto Components – 1.2%
Delphi Automotive PLC		221,361	$	17,651,326
Gentex Corp.		2,504,192		45,826,714
Johnson Controls, Inc.		252,400		12,731,056
Modine Manufacturing Co. (a)		25,399		342,125
New Focus Auto Tech Holdings Ltd. (a)		3,095,675		295,486
Tenneco, Inc. (a)		224,176		12,872,186
Visteon Corp. (a)		231,422		22,309,081
				112,027,974
Diversified Consumer Services – 0.1%
ServiceMaster Global Holdings, Inc.		211,800		7,148,250
Hotels, Restaurants & Leisure – 2.9%
Brinker International, Inc.		652,167		40,147,401
DineEquity, Inc.		484,200		51,814,242
Jubilant Foodworks Ltd. (a)		75,070		1,781,997
Las Vegas Sands Corp.		432,188		23,787,628
Panera Bread Co. Class A (a)		98,800		15,807,506
Texas Roadhouse, Inc. Class A		1,080,100		39,348,043
The Cheesecake Factory, Inc.		23,031		1,136,119
Wyndham Worldwide Corp.		1,056,700		95,599,649
				269,422,585
Household Durables – 3.7%
Garmin Ltd. (d)		134,200		6,377,184
Harman International Industries, Inc.		149,705		20,005,079
Jarden Corp. (a)		1,472,750		77,908,475
Lennar Corp. Class A		1,557,300		80,683,713
NVR, Inc. (a)		50,767		67,452,082
PulteGroup, Inc.		2,564,800		57,015,504
Whirlpool Corp. (d)		169,799		34,309,586
				343,751,623
Leisure Products – 1.3%
Brunswick Corp.		526,100		27,067,845
Polaris Industries, Inc.		657,119		92,719,491
				119,787,336
Media – 0.9%
Interpublic Group of Companies, Inc.		2,225,885		49,236,576
Naspers Ltd. Class N		62,400		9,620,579
Time Warner Cable, Inc.		173,900		26,064,132
				84,921,287
Multiline Retail – 1.0%
Dollar Tree, Inc. (a)		1,159,600		94,095,742
Specialty Retail – 2.9%
AutoZone, Inc. (a)		48,600		33,152,976
Dick's Sporting Goods, Inc.		535,500		30,518,145
Foot Locker, Inc.		729,087		45,932,481
GNC Holdings, Inc.		518,700		25,452,609
L Brands, Inc.		131,500		12,399,135
Signet Jewelers Ltd.		347,143		48,179,977
TJX Companies, Inc.		594,200		41,623,710

	Shares		Value
Urban Outfitters, Inc. (a)		400,400	$	18,278,260
Williams-Sonoma, Inc.		157,900		12,586,209
				268,123,502
Textiles, Apparel & Luxury Goods – 3.5%
Deckers Outdoor Corp. (a)		617,800		45,019,086
G-III Apparel Group Ltd. (a)		848,483		95,581,610
Hanesbrands, Inc.		2,823,200		94,605,432
Page Industries Ltd.		21,178		4,669,302
PVH Corp.		327,000		34,845,120
Ralph Lauren Corp.		261,800		34,426,700
VF Corp.		212,776		16,024,161
				325,171,411
TOTAL CONSUMER DISCRETIONARY				1,624,449,710
CONSUMER STAPLES – 2.7%
Beverages – 0.7%
C&C Group PLC		1,417,668		5,815,386
Dr. Pepper Snapple Group, Inc.		805,825		63,241,146
				69,056,532
Food & Staples Retailing – 1.3%
CVS Health Corp.		650,647		67,153,277
Kroger Co.		643,700		49,346,042
				116,499,319
Food Products – 0.7%
Archer Daniels Midland Co.		404,454		19,171,120
Britannia Industries Ltd. (a)		16,320		565,647
Bunge Ltd.		509,788		41,986,140
Ingredion, Inc.		92,005		7,159,829
				68,882,736
TOTAL CONSUMER STAPLES				254,438,587
ENERGY – 3.2%
Energy Equipment & Services – 1.2%
Baker Hughes, Inc.		276,781		17,597,736
Dril-Quip, Inc. (a)		476,300		32,574,157
Halliburton Co.		809,600		35,525,248
Oceaneering International, Inc.		565,700		30,508,201
				116,205,342
Oil, Gas & Consumable Fuels – 2.0%
Apache Corp.		365,696		22,062,440
Chesapeake Energy Corp. (d)		666,500		9,437,640
Cimarex Energy Co.		330,252		38,008,703
Emerald Oil, Inc. warrants 2/4/16 (a)		129,809		1
Energen Corp.		54,903		3,623,598
EOG Resources, Inc.		121,900		11,177,011
Newfield Exploration Co. (a)		606,500		21,282,085
Phillips 66 Co.		236,685		18,603,441
Suncor Energy, Inc.		1,799,000		52,568,781

 Quarterly Report 2

Common Stocks – continued
	Shares		Value
ENERGY – continued
Oil, Gas & Consumable Fuels – continued
Teekay Tankers Ltd.		85,400	$	490,196
Western Refining, Inc.		148,200		7,319,598
				184,573,494
TOTAL ENERGY				300,778,836
FINANCIALS – 15.8%
Banks – 3.7%
Boston Private Financial Holdings, Inc.		1,721,716		20,918,849
CIT Group, Inc.		238,800		10,774,656
Comerica, Inc.		649,429		29,308,731
Commerce Bancshares, Inc.		739,180		31,282,098
First Citizen Bancshares, Inc.		44,300		11,504,267
First Commonwealth Financial Corp.		1,162,500		10,462,500
First Republic Bank		236,100		13,478,949
Hilltop Holdings, Inc. (a)		76,100		1,479,384
Huntington Bancshares, Inc.		4,655,816		51,446,767
Investors Bancorp, Inc.		2,106,700		24,690,524
Lakeland Financial Corp.		549,346		22,292,461
M&T Bank Corp.		108,700		13,804,900
PacWest Bancorp		252,293		11,830,019
Prosperity Bancshares, Inc.		140,000		7,347,200
Regions Financial Corp.		1,400,400		13,233,780
SunTrust Banks, Inc.		910,465		37,411,007
UMB Financial Corp.		496,000		26,233,440
				337,499,532
Capital Markets – 3.1%
Ameriprise Financial, Inc.		578,413		75,679,557
E*TRADE Financial Corp. (a)		156,600		4,471,713
Invesco Ltd.		1,276,000		50,644,440
Lazard Ltd. Class A		927,645		48,784,851
Raymond James Financial, Inc.		718,595		40,801,824
The Blackstone Group LP		1,349,535		52,483,416
Virtus Investment Partners, Inc.		125,600		16,424,712
				289,290,513
Consumer Finance – 1.2%
American Express Co.		180,789		14,123,237
Capital One Financial Corp.		268,600		21,171,052
SLM Corp.		6,635,600		61,578,368
Springleaf Holdings, Inc. (a)		304,600		15,769,142
				112,641,799
Diversified Financial Services – 1.1%
CRISIL Ltd.		84,555		2,729,241
McGraw Hill Financial, Inc.		824,430		85,246,062
Moody's Corp.		166,800		17,313,840
				105,289,143
Insurance – 3.8%
AFLAC, Inc.		739,600		47,341,796
Bajaj Finserv Ltd. (a)		58,922		1,338,317

	Shares		Value
Fidelity & Guaranty Life		264,719	$	5,612,043
First American Financial Corp.		1,147,200		40,932,096
Hiscox Ltd.		1,733,160		21,878,951
Marsh & McLennan Companies, Inc.		1,175,484		65,932,898
Primerica, Inc.		551,820		28,087,638
Principal Financial Group, Inc.		1,134,000		58,253,580
Reinsurance Group of America, Inc.		660,458		61,548,081
The Chubb Corp.		184,900		18,693,390
				349,618,790
Real Estate Investment Trusts – 0.3%
Altisource Residential Corp. Class B		349,209		7,284,500
American Realty Capital Properties, Inc.		549,100		5,408,635
Digital Realty Trust, Inc.		110,300		7,275,388
Mid-America Apartment Communities, Inc.		120,500		9,311,035
SL Green Realty Corp.		8,300		1,065,554
				30,345,112
Real Estate Management & Development – 2.2%
CBRE Group, Inc. (a)		2,651,323		102,632,713
Jones Lang LaSalle, Inc.		569,460		97,035,984
				199,668,697
Thrifts & Mortgage Finance – 0.4%
Beneficial Bancorp, Inc. (a)		363,662		4,105,744
Housing Development Finance Corp. Ltd.		349,130		7,375,769
Ladder Capital Corp. Class A		1,434,999		26,561,831
				38,043,344
TOTAL FINANCIALS				1,462,396,930
HEALTH CARE – 14.1%
Biotechnology – 0.3%
United Therapeutics Corp. (a)		147,100		25,365,189
Health Care Equipment & Supplies – 3.8%
Boston Scientific Corp. (a)		4,688,403		83,219,153
DENTSPLY International, Inc.		899,600		45,780,644
Hologic, Inc. (a)		2,180,424		72,008,503
Steris Corp. (d)		1,292,700		90,838,029
Zimmer Holdings, Inc.		481,700		56,609,384
				348,455,713
Health Care Providers & Services – 5.2%
Cardinal Health, Inc.		1,283,147		115,829,680
Catamaran Corp. (a)		348,700		20,758,738
Community Health Systems, Inc. (a)		568,600		29,726,408
DaVita HealthCare Partners, Inc. (a)		851,100		69,177,408
HCA Holdings, Inc. (a)		852,435		64,128,685
McKesson Corp.		414,150		93,680,730
Molina Healthcare, Inc. (a)		112,800		7,590,312
Omnicare, Inc.		1,063,722		81,970,417
				482,862,378
Health Care Technology – 0.5%
MedAssets, Inc. (a)		2,581,900		48,591,358

3 Quarterly Report 

Investments (Unaudited) - continued

Common Stocks – continued
	Shares		Value
HEALTH CARE – continued
Life Sciences Tools & Services – 1.3%
Agilent Technologies, Inc.		678,206	$	28,179,459
Bruker Corp. (a)		573,400		10,590,698
Thermo Fisher Scientific, Inc.		604,013		81,143,106
				119,913,263
Pharmaceuticals – 3.0%
Actavis PLC (a)		251,245		74,775,537
Jazz Pharmaceuticals PLC (a)		386,171		66,726,487
Mallinckrodt PLC (a)		548,950		69,524,518
Teva Pharmaceutical Industries Ltd. sponsored ADR		1,139,156		70,969,419
				281,995,961
TOTAL HEALTH CARE				1,307,183,862
INDUSTRIALS – 16.6%
Aerospace & Defense – 2.8%
Curtiss-Wright Corp.		754,548		55,791,279
Esterline Technologies Corp. (a)		261,148		29,880,554
Huntington Ingalls Industries, Inc.		238,200		33,383,730
Rockwell Collins, Inc.		332,283		32,081,924
Textron, Inc.		2,518,581		111,648,696
				262,786,183
Air Freight & Logistics – 1.0%
FedEx Corp.		574,811		95,102,480
Airlines – 1.7%
Allegiant Travel Co.		23,400		4,499,586
Southwest Airlines Co.		927,500		41,088,250
Spirit Airlines, Inc. (a)		1,470,413		113,751,150
				159,338,986
Building Products – 0.4%
A.O. Smith Corp.		206,400		13,552,224
Apogee Enterprises, Inc.		147,171		6,357,787
Lennox International, Inc.		122,756		13,710,618
				33,620,629
Commercial Services & Supplies – 0.7%
Copart, Inc. (a)		110,300		4,143,971
G&K Services, Inc. Class A		201,600		14,622,048
Herman Miller, Inc.		301,500		8,369,640
HNI Corp.		207,677		11,457,540
KAR Auction Services, Inc.		270,882		10,274,554
Republic Services, Inc.		392,313		15,912,215
				64,779,968
Construction & Engineering – 1.4%
EMCOR Group, Inc.		1,130,228		52,521,695
Granite Construction, Inc.		20,236		711,093
Jacobs Engineering Group, Inc. (a)		988,955		44,661,208
Quanta Services, Inc. (a)		1,046,521		29,857,244
				127,751,240

	Shares		Value
Electrical Equipment – 0.1%
AMETEK, Inc.		184,200	$	9,677,868
Industrial Conglomerates – 0.5%
Roper Industries, Inc.		269,936		46,428,992
Machinery – 5.0%
AGCO Corp. (d)		746,700		35,572,788
Caterpillar, Inc.		395,765		31,673,073
Colfax Corp. (a)		192,100		9,168,933
Cummins, Inc.		303,775		42,115,366
Deere & Co.		365,300		32,033,157
IDEX Corp.		17,400		1,319,442
Illinois Tool Works, Inc.		516,467		50,169,604
Ingersoll-Rand PLC		568,745		38,720,160
Manitowoc Co., Inc.		876,579		18,899,043
Mueller Industries, Inc.		715,004		25,833,095
Rexnord Corp. (a)		1,084,534		28,946,212
Snap-On, Inc.		577,300		84,897,738
Stanley Black & Decker, Inc.		50,100		4,777,536
Valmont Industries, Inc.		167,381		20,567,777
Wabtec Corp.		115,860		11,007,859
Woodward, Inc.		529,407		27,005,051
				462,706,834
Professional Services – 0.9%
Corporate Executive Board Co.		190,700		15,229,302
Dun & Bradstreet Corp.		521,905		66,991,726
				82,221,028
Road & Rail – 1.7%
ArcBest Corp.		527,600		19,990,764
Con-way, Inc.		1,591,565		70,235,763
CSX Corp.		651,600		21,580,992
J.B. Hunt Transport Services, Inc.		40,800		3,484,116
Saia, Inc. (a)		807,505		35,772,472
Swift Transporation Co. (a)		229,578		5,973,620
				157,037,727
Trading Companies & Distributors – 0.4%
Air Lease Corp. Class A		585,184		22,084,844
GATX Corp.		61,147		3,545,303
Misumi Group, Inc.		256,600		10,341,317
				35,971,464
TOTAL INDUSTRIALS				1,537,423,399
INFORMATION TECHNOLOGY – 25.7%
Communications Equipment – 1.5%
Aruba Networks, Inc. (a)		416,400		10,197,636
Brocade Communications Systems, Inc.		862,503		10,233,598
CommScope Holding Co., Inc. (a)		1,144,190		32,655,183
F5 Networks, Inc. (a)		596,854		68,602,399
Juniper Networks, Inc.		315,362		7,120,874
Nokia Corp. sponsored ADR		1,623,000		12,302,340
				141,112,030

 Quarterly Report 4

Common Stocks – continued
	Shares		Value
INFORMATION TECHNOLOGY – continued
Electronic Equipment & Components – 3.7%
Arrow Electronics, Inc. (a)		684,180	$	41,837,607
Avnet, Inc.		822,930		36,620,385
Belden, Inc.		319,000		29,845,640
CDW Corp.		2,134,020		79,470,905
Jabil Circuit, Inc.		298,200		6,971,916
Keysight Technologies, Inc. (a)		362,953		13,483,704
Methode Electronics, Inc. Class A		768,700		36,159,648
TE Connectivity Ltd.		873,766		62,579,121
Trimble Navigation Ltd. (a)		1,549,900		39,057,480
				346,026,406
Internet Software & Services – 0.5%
Google, Inc. Class C (a)		65,970		36,151,560
Tencent Holdings Ltd.		545,300		10,355,202
				46,506,762
IT Services – 9.1%
Alliance Data Systems Corp. (a)		251,490		74,503,913
Blackhawk Network Holdings, Inc. (a)		282,294		10,035,552
Broadridge Financial Solutions, Inc.		344,203		18,934,607
Cognizant Technology Solutions Corp. Class A (a)		30,900		1,927,851
Euronet Worldwide, Inc. (a)		1,292,277		75,921,274
EVERTEC, Inc.		1,010,593		22,091,563
Fidelity National Information Services, Inc.		1,409,477		95,929,005
Fiserv, Inc. (a)		970,514		77,058,812
FleetCor Technologies, Inc. (a)		384,740		58,064,961
Genpact Ltd. (a)		2,931,288		68,152,446
Global Payments, Inc.		1,332,788		122,190,004
Maximus, Inc.		437,900		29,234,204
The Western Union Co.		1,456,348		30,306,602
Total System Services, Inc.		2,333,810		89,034,852
Visa, Inc. Class A		410,000		26,818,100
Xerox Corp.		3,082,749		39,613,325
				839,817,071
Semiconductors & Semiconductor Equipment – 6.9%
Altera Corp.		1,068,000		45,827,880
Atmel Corp.		6,201,033		51,034,502
Broadcom Corp. Class A		1,313,300		56,859,324
Cypress Semiconductor Corp.		576,400		8,133,004
Freescale Semiconductor, Inc. (a)		2,940,418		119,851,438
Intersil Corp. Class A		817,100		11,700,872
Microchip Technology, Inc. (d)		246,029		12,030,818
NVIDIA Corp.		2,089,433		43,721,386
NXP Semiconductors NV (a)		1,308,223		131,293,247
PMC-Sierra, Inc. (a)		7,059,850		65,515,408
Qorvo, Inc. (a)		831,500		66,270,550
Semtech Corp. (a)		929,800		24,774,521
				637,012,950
Software – 3.2%
Activision Blizzard, Inc.		1,350,700		30,694,658

	Shares		Value
Cadence Design Systems, Inc. (a)(d)		3,077,700	$	56,752,788
Electronic Arts, Inc. (a)		1,665,790		97,973,439
Intuit, Inc.		230,497		22,348,989
Parametric Technology Corp. (a)		950,741		34,388,302
Rovi Corp. (a)		452,397		8,238,149
Synopsys, Inc. (a)		1,036,549		48,012,950
				298,409,275
Technology Hardware, Storage & Peripherals – 0.8%
EMC Corp.		1,525,939		39,003,001
Super Micro Computer, Inc. (a)		1,184,009		39,320,939
				78,323,940
TOTAL INFORMATION TECHNOLOGY				2,387,208,434
MATERIALS – 3.7%
Chemicals – 2.8%
Albemarle Corp. U.S.		550,856		29,107,231
Ashland, Inc.		85,526		10,888,315
Cytec Industries, Inc.		1,454,266		78,588,535
Eastman Chemical Co.		559,500		38,750,970
Ferro Corp. (a)		1,638,609		20,564,543
Methanex Corp.		253,800		13,588,234
PolyOne Corp.		966,160		36,086,076
Potash Corp. of Saskatchewan, Inc. (d)		266,600		8,594,432
Praxair, Inc.		212,400		25,645,176
				261,813,512
Containers & Packaging – 0.1%
Aptargroup, Inc.		188,330		11,962,722
Metals & Mining – 0.4%
B2Gold Corp. (a)		6,375,000		9,513,047
Constellium NV (a)		1,033,264		20,995,924
New Gold, Inc. (a)		2,025,320		6,796,108
				37,305,079
Paper & Forest Products – 0.4%
Boise Cascade Co. (a)		853,764		31,981,999
TOTAL MATERIALS				343,063,312
UTILITIES – 0.6%
Electric Utilities – 0.4%
Exelon Corp.		999,300		33,586,473
OGE Energy Corp.		293,000		9,261,730
				42,848,203
Independent Power and Renewable Electricity Producers – 0.1%
Dynegy, Inc. (a)		228,800		7,191,184

5 Quarterly Report 

Investments (Unaudited) - continued

Common Stocks – continued
	Shares		Value
UTILITIES – continued
Multi-Utilities – 0.1%
CMS Energy Corp.		159,419	$	5,565,317
NiSource, Inc.		88,221		3,895,839
				9,461,156
TOTAL UTILITIES				59,500,543
TOTAL COMMON STOCKS
(Cost $7,374,868,220)				9,276,443,613
Nonconvertible Preferred Stocks — 0.1%
FINANCIALS – 0.1%
Capital Markets – 0.1%
GMAC Capital Trust I Series 2, 8.125% (Cost $8,287,786)		402,766		10,572,608

Money Market Funds — 0.6%
	Shares		Value
Fidelity Cash Central Fund, 0.14% (b)		474	$	474
Fidelity Securities Lending Cash Central Fund, 0.15% (b)(c)		55,574,425		55,574,425
TOTAL MONEY MARKET FUNDS
(Cost $55,574,899)				55,574,899
TOTAL INVESTMENT PORTFOLIO – 100.6%
(Cost $7,438,730,905)				9,342,591,120
NET OTHER ASSETS (LIABILITIES) – (0.6)%				(58,819,633	)
NET ASSETS – 100%			$	9,283,771,487

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$	1,269
Fidelity Securities Lending Cash Central Fund		76,768
Total	$	78,037

Other Information

The following is a summary of the inputs used, as of March 31, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total		Level 1		Level 2		Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$	1,624,449,710	$	1,624,154,224	$	—	$	295,486
Consumer Staples		254,438,587		254,438,587		—		—
Energy		300,778,836		300,778,835		1		—
Financials		1,472,969,538		1,472,969,538		—		—
Health Care		1,307,183,862		1,307,183,862		—		—
Industrials		1,537,423,399		1,527,082,082		10,341,317		—
Information Technology		2,387,208,434		2,376,853,232		10,355,202		—
Materials		343,063,312		343,063,312		—		—
Utilities		59,500,543		59,500,543		—		—
Money Market Funds		55,574,899		55,574,899		—		—
Total Investments in Securities:	$	9,342,591,120	$	9,321,599,114	$	20,696,520	$	295,486

 Quarterly Report 6

Income Tax Information

At March 31, 2015, the cost of investment securities for income tax purposes was $7,460,407,044. Net unrealized appreciation aggregated $1,882,184,076, of which $2,115,606,878 related to appreciated investment securities and $233,422,802 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

7 Quarterly Report 

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.

 Quarterly Report 8

Item 2. Controls and Procedures.

(a) Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-Q are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form NQ and the officer certifications of such Form N-Q.

(b) There were no significant changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant): Voya Partners, Inc.

By	/s/ Shaun P. Mathews
	Shaun P. Mathews
	President and Chief Executive Officer
Date:	May 29, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By	/s/ Shaun P. Mathews
	Shaun P. Mathews
	President and Chief Executive Officer
Date:	May 29, 2015
By	/s/ Todd Modic
	Todd Modic
	Senior Vice President and Chief Financial Officer
Date:	May 29, 2015