PORTFOLIO

OF

INVESTMENTS

as

of

February

29,

2024

(Unaudited)

1

Voya

Small

Cap

Growth

Fund

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

95

.8

%

Consumer

Discretionary

:

15

.3

%

100,823 

(1)

Boot

Barn

Holdings,

Inc.

$

9,326,128

1

.1

233,836 

(1)

Cava

Group,

Inc.

13,658,361

1

.6

169,581 

Churchill

Downs,

Inc.

20,666,836

2

.4

119,415 

(1)

Dave

&

Buster's

Entertainment,

Inc.

7,372,682

0

.9

221,577 

(1)

Dutch

Bros,

Inc.

- Class

A

6,454,538

0

.7

39,159 

(1)

Five

Below,

Inc.

7,858,428

0

.9

67,590 

(1)

Kura

Sushi

USA,

Inc.

- Class

A

6,423,078

0

.7

185,145 

(1)

Modine

Manufacturing

Co.

16,609,358

1

.9

125,542 

Patrick

Industries,

Inc.

15,057,507

1

.8

224,634 

(1)

Skyline

Champion

Corp.

18,822,083

2

.2

82,645 

Strategic

Education,

Inc.

9,156,240

1

.1

131,405,239

15

.3

Energy

:

3

.9

%

593,943 

(1)

Helix

Energy

Solutions

Group,

Inc.

5,345,487

0

.6

42,273 

Matador

Resources

Co.

2,669,540

0

.3

329,454 

Northern

Oil

and

Gas,

Inc.

11,771,391

1

.4

615,674 

Patterson-UTI

Energy,

Inc.

7,123,348

0

.8

65,837 

(1)

Weatherford

International

PLC

6,755,535

0

.8

33,665,301

3

.9

Financials

:

5

.9

%

76,388 

FirstCash

Holdings,

Inc.

8,746,426

1

.0

127,183 

HCI

Group,

Inc.

12,415,604

1

.4

65,891 

(1)

Palomar

Holdings,

Inc.

5,016,941

0

.6

70,562 

Piper

Sandler

Cos.

13,284,708

1

.6

306,732 

(1)

Skyward

Specialty

Insurance

Group,

Inc.

11,223,324

1

.3

50,687,003

5

.9

Health

Care

:

18

.6

%

180,134 

(1)

10X

Genomics,

Inc.

- Class

A

8,401,450

1

.0

87,310 

(1)

ACADIA

Pharmaceuticals,

Inc.

2,029,084

0

.2

95,239 

(1)

Alkermes

PLC

2,827,646

0

.3

171,079 

(1)

Amicus

Therapeutics,

Inc.

2,193,233

0

.3

25,439 

(1)

Arcellx,

Inc.

1,674,395

0

.2

65,816 

(1)

Arrowhead

Pharmaceuticals,

Inc.

2,112,694

0

.2

32,092 

(1)

Blueprint

Medicines

Corp.

3,001,244

0

.4

51,933 

(1)

Bridgebio

Pharma,

Inc.

1,773,512

0

.2

54,226 

(1)

Cytokinetics,

Inc.

3,917,286

0

.5

77,684 

(1)

Denali

Therapeutics,

Inc.

1,536,589

0

.2

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Health

Care:

(continued)

70,359 

Ensign

Group,

Inc.

$

8,789,246

1

.0

246,379 

(1)

Evolent

Health,

Inc.

- Class

A

8,354,712

1

.0

74,377 

(1)

Halozyme

Therapeutics,

Inc.

2,960,948

0

.3

122,846 

(1)

Inari

Medical,

Inc.

5,665,658

0

.7

70,912 

(1)

Insmed,

Inc.

1,965,681

0

.2

53,508 

(1)

Intra-Cellular

Therapies,

Inc.

3,719,876

0

.4

14,152 

(1)

Krystal

Biotech,

Inc.

2,256,819

0

.3

18,287 

(1)

Medpace

Holdings,

Inc.

7,269,448

0

.8

95,255 

(1)

Merit

Medical

Systems,

Inc.

7,258,431

0

.8

291,733 

(1)

Natera,

Inc.

25,231,987

2

.9

259,712 

(1)

Option

Care

Health,

Inc.

8,380,906

1

.0

42,008 

(1)

Repligen

Corp.

8,149,132

1

.0

65,868 

(1)

Revolution

Medicines,

Inc.

1,941,789

0

.2

34,605 

(1)

Rhythm

Pharmaceuticals,

Inc.

1,502,549

0

.2

325,014 

Select

Medical

Holdings

Corp.

8,850,131

1

.0

47,202 

(1)

SpringWorks

Therapeutics,

Inc.

2,325,171

0

.3

134,131 

(1)

Tenet

Healthcare

Corp.

12,474,183

1

.5

53,324 

(1)

Vaxcyte,

Inc.

3,936,378

0

.5

31,625 

(1)

Vericel

Corp.

1,444,630

0

.2

92,045 

(1)

Viking

Therapeutics,

Inc.

7,092,067

0

.8

159,036,875

18

.6

Industrials

:

15

.8

%

23,795 

(1)

CACI

International,

Inc.

- Class

A

8,919,556

1

.0

121,358 

(1)

Casella

Waste

Systems,

Inc.

- Class

A

10,934,356

1

.3

70,712 

(1)

Chart

Industries,

Inc.

10,101,916

1

.2

54,070 

(1)

Clean

Harbors,

Inc.

9,846,147

1

.1

217,077 

(1)

Construction

Partners,

Inc.

- Class

A

10,437,062

1

.2

205,298 

Flowserve

Corp.

8,688,211

1

.0

259,731 

FTAI

Aviation

Ltd.

14,620,258

1

.7

97,739 

(1)

Kirby

Corp.

8,573,665

1

.0

259,247 

Marten

Transport

Ltd.

4,886,806

0

.6

70,533 

(1)

MYR

Group,

Inc.

11,458,791

1

.3

73,844 

(1)

NV5

Global,

Inc.

7,510,673

0

.9

18,863 

(1)

Saia,

Inc.

10,853,770

1

.3

121,560 

(1)

Trex

Co.,

Inc.

11,154,346

1

.3

186,877 

Werner

Enterprises,

Inc.

7,501,243

0

.9

135,486,800

15

.8

Information

Technology

:

31

.5

%

166,825 

(1)

Agilysys,

Inc.

12,978,985

1

.5

936,635 

(1)

Applied

Digital

Corp.

3,887,035

0

.4

35,238 

(1)

Axcelis

Technologies,

Inc.

3,970,265

0

.5

PORTFOLIO

OF

INVESTMENTS

as

of

February

29,

2024

(Unaudited)

(continued)

2

Voya

Small

Cap

Growth

Fund

Shares

Value

Percentage

of

Net

Assets

COMMON

STOCK:

(continued)

Information

Technology:

(continued)

417,030 

(1)

Clearwater

Analytics

Holdings,

Inc.

- Class

A

$

7,181,257

0

.8

338,528 

(1)

Couchbase,

Inc.

9,505,866

1

.1

34,361 

(1)

CyberArk

Software

Ltd.

9,063,057

1

.1

451,517 

(1)

ExlService

Holdings,

Inc.

14,051,209

1

.6

151,294 

(1)

FormFactor,

Inc.

6,510,181

0

.8

52,606 

(1)

Globant

SA

11,740,081

1

.4

100,331 

(1)

Guidewire

Software,

Inc.

11,973,502

1

.4

217,604 

Kulicke

&

Soffa

Industries,

Inc.

10,362,302

1

.2

48,745 

Littelfuse,

Inc.

11,613,009

1

.4

75,439 

Maximus,

Inc.

6,311,227

0

.7

136,038 

Napco

Security

Technologies,

Inc.

6,125,791

0

.7

49,035 

(1)

Onto

Innovation,

Inc.

9,030,286

1

.1

109,184 

Power

Integrations,

Inc.

7,802,289

0

.9

199,126 

(1)

Rambus,

Inc.

11,796,224

1

.4

242,304 

(1)

SentinelOne,

Inc.

- Class

A

6,825,704

0

.8

153,179 

Silicon

Motion

Technology

Corp.,

ADR

10,843,541

1

.3

103,284 

(1)

SiTime

Corp.

9,553,770

1

.1

190,059 

(1)

Smartsheet,

Inc.

- Class

A

8,022,390

0

.9

182,823 

(1)

Sprout

Social,

Inc.

- Class

A

11,302,118

1

.3

22,605 

(1)

Super

Micro

Computer,

Inc.

19,578,643

2

.3

244,581 

(1)

Tenable

Holdings,

Inc.

11,779,021

1

.4

435,918 

(1)

Tower

Semiconductor

Ltd.

14,332,984

1

.7

70,435 

Universal

Display

Corp.

12,285,273

1

.4

306,405 

(1)

Veeco

Instruments,

Inc.

11,094,925

1

.3

269,520,935

31

.5

Materials

:

4

.8

%

385,417 

(1)

Aspen

Aerogels,

Inc.

6,621,464

0

.8

131,206 

HB

Fuller

Co.

10,434,813

1

.2

73,036 

Innospec,

Inc.

9,076,184

1

.1

342,165 

(1)

Summit

Materials,

Inc.

- Class

A

14,613,867

1

.7

40,746,328

4

.8

Total

Common

Stock

(Cost

$638,374,047)

820,548,481

95

.8

Shares

Value

Percentage

of

Net

Assets

EXCHANGE-TRADED

FUNDS

:

1

.5

%

132,973 

SPDR

S&P

Biotech

ETF

$

13,087,202

1

.5

Total

Exchange-Traded

Funds

(Cost

$10,049,859)

13,087,202

1

.5

Total

Long-Term

Investments

(Cost

$648,423,906)

833,635,683

97

.3

Shares

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

3

.0

%

Mutual

Funds

:

3

.0

%

25,258,000 

(2)

Goldman

Sachs

Financial

Square

Government

Fund,

Institutional

Class,

5.190%

(Cost

$25,258,000)

$

25,258,000

3

.0

Total

Short-Term

Investments

(Cost

$25,258,000)

25,258,000

3

.0

Total

Investments

in

Securities

(Cost

$673,681,906)

$

858,893,683

100

.3

Liabilities

in

Excess

of

Other

Assets

(

2,944,529

)

(0.3)

Net

Assets

$

855,949,154

100.0

ADR

American

Depositary

Receipt

(1)

Non-income

producing

security.

(2)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

PORTFOLIO

OF

INVESTMENTS

as

of

February

29,

2024

(Unaudited)

(continued)

3

Voya

Small

Cap

Growth

Fund

Fair

Value

Measurements

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

as

of

February

29,

2024

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

February

29,

2024

Asset

Table

Investments,

at

fair

value

Common

Stock*

$

820,548,481

$

—

$

—

$

820,548,481

Exchange-Traded

Funds

13,087,202

—

—

13,087,202

Short-Term

Investments

25,258,000

—

—

25,258,000

Total

Investments,

at

fair

value

$

858,893,683

$

—

$

—

$

858,893,683

*

For

further

breakdown

of

Common

Stock

by

sector,

please

refer

to

the

Portfolio

of

Investments.

Net

unrealized

appreciation

consisted

of:

Gross

Unrealized

Appreciation

$

194,324,619

Gross

Unrealized

Depreciation

(

9,112,842

)

Net

Unrealized

Appreciation

$

185,211,777