PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

1

Voya

Short

Term

Bond

Fund

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES

:

41.8%

Basic

Materials

:

1.2%

389,000 

Albemarle

Corp.,

4.650%,

06/01/2027

$

382,219

0.1

656,000 

BHP

Billiton

Finance

USA

Ltd.,

5.250%,

09/08/2026

670,981

0.1

600,000 

(1)

Constellium

SE,

5.875%,

02/15/2026

596,982

0.1

641,000 

Ecolab,

Inc.,

1.650%,

02/01/2027

589,079

0.1

678,000 

Ecolab,

Inc.,

2.700%,

11/01/2026

649,360

0.1

417,000 

EIDP,

Inc.,

4.500%,

05/15/2026

415,624

0.1

666,000 

(2)

Freeport-McMoRan,

Inc.,

4.550%,

11/14/2024

659,320

0.1

827,000 

(1)

Georgia-Pacific

LLC,

1.750%,

09/30/2025

782,917

0.1

625,000 

(1)

Novelis

Corp.,

3.250%,

11/15/2026

588,790

0.1

252,000 

Nucor

Corp.,

2.000%,

06/01/2025

242,144

0.1

65,000 

Nutrien

Ltd.,

4.900%,

03/27/2028

65,643

0.0

1,098,000 

Nutrien

Ltd.,

5.950%,

11/07/2025

1,117,669

0.2

6,760,728

1.2

Communications

:

2.3%

906,000 

Amazon.com,

Inc.,

3.000%,

04/13/2025

887,271

0.2

602,000 

Amazon.com,

Inc.,

3.150%,

08/22/2027

578,310

0.1

513,000 

AT&T,

Inc.,

1.700%,

03/25/2026

480,063

0.1

557,000 

Bell

Telephone

Co.

of

Canada

or

Bell

Canada

US-3,

0.750%,

03/17/2024

551,340

0.1

575,000 

(1)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.,

5.500%,

05/01/2026

571,530

0.1

529,000 

Comcast

Corp.,

4.550%,

01/15/2029

531,591

0.1

406,000 

Comcast

Corp.,

5.250%,

11/07/2025

410,553

0.1

444,000 

Fox

Corp.,

3.050%,

04/07/2025

432,513

0.1

695,000 

Fox

Corp.,

4.030%,

01/25/2024

694,168

0.1

581,000 

Meta

Platforms,

Inc.,

3.500%,

08/15/2027

566,046

0.1

83,000 

(2)

Motorola

Solutions,

Inc.,

4.000%,

09/01/2024

82,142

0.0

1,497,000 

(1)

NBN

Co.

Ltd.,

1.450%,

05/05/2026

1,381,599

0.2

349,000 

(1)

NBN

Co.

Ltd.,

5.750%,

10/06/2028

363,626

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Communications:

(continued)

671,000 

(1)

NTT

Finance

Corp.,

0.583%,

03/01/2024

$

665,636

0.1

423,000 

(1)

NTT

Finance

Corp.,

4.142%,

07/26/2024

420,326

0.1

1,147,000 

Sprint

Capital

Corp.,

6.875%,

11/15/2028

1,243,596

0.2

575,000 

(1)

Telecom

Italia

SpA/

Milano,

5.303%,

05/30/2024

572,794

0.1

429,000 

T-Mobile

USA,

Inc.,

2.250%,

02/15/2026

406,804

0.1

283,000 

T-Mobile

USA,

Inc.,

2.625%,

04/15/2026

269,348

0.0

733,000 

T-Mobile

USA,

Inc.,

3.750%,

04/15/2027

711,177

0.1

291,000 

T-Mobile

USA,

Inc.,

4.950%,

03/15/2028

295,073

0.1

187,000 

(1)

Univision

Communications,

Inc.,

5.125%,

02/15/2025

186,464

0.0

649,000 

Verizon

Communications,

Inc.,

0.850%,

11/20/2025

603,395

0.1

12,905,365

2.3

Consumer,

Cyclical

:

4.1%

361,000 

(1)

7-Eleven,

Inc.,

0.950%,

02/10/2026

333,792

0.1

600,000 

(1)

Adient

Global

Holdings

Ltd.,

4.875%,

08/15/2026

587,093

0.1

18,006 

American

Airlines

Pass

Through

Trust

2016-1,

AA,

3.575%,

07/15/2029

16,810

0.0

432,000 

American

Honda

Finance

Corp.,

GMTN,

5.800%,

10/03/2025

439,723

0.1

195,000 

American

Honda

Finance

Corp.,

MTN,

1.300%,

09/09/2026

179,223

0.0

656,000 

(1)

BMW

US

Capital

LLC,

1.250%,

08/12/2026

601,555

0.1

682,000 

(1)(2)

BMW

US

Capital

LLC,

3.250%,

04/01/2025

669,399

0.1

550,000 

(1)

Caesars

Entertainment,

Inc.,

6.250%,

07/01/2025

551,911

0.1

1,035,000 

(1)

Daimler

Truck

Finance

North

America

LLC,

3.500%,

04/07/2025

1,013,008

0.2

186,662 

Delta

Air

Lines

Pass

Through

Trust

20-1,

A,

2.500%,

12/10/2029

164,791

0.0

160,000 

Delta

Air

Lines

Pass

Through

Trust

2019-1,

A,

3.404%,

10/25/2025

157,956

0.0

400,000 

Ford

Motor

Credit

Co.

LLC,

5.584%,

03/18/2024

399,510

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

2

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Cyclical:

(continued)

500,000 

Ford

Motor

Credit

Co.

LLC,

GMTN,

4.389%,

01/08/2026

$

486,510

0.1

410,000 

General

Motors

Financial

Co.,

Inc.,

3.800%,

04/07/2025

401,634

0.1

586,000 

General

Motors

Financial

Co.,

Inc.,

5.250%,

03/01/2026

586,578

0.1

415,000 

General

Motors

Financial

Co.,

Inc.,

5.400%,

04/06/2026

417,767

0.1

800,000 

(1)

Hilton

Domestic

Operating

Co.,

Inc.,

5.375%,

05/01/2025

799,677

0.1

714,000 

Home

Depot,

Inc.,

4.950%,

09/30/2026

724,399

0.1

874,000 

Honda

Motor

Co.

Ltd.,

2.534%,

03/10/2027

825,254

0.2

561,000 

(1)

Hyundai

Capital

America,

1.300%,

01/08/2026

518,146

0.1

264,000 

(1)

Hyundai

Capital

America,

5.650%,

06/26/2026

265,864

0.0

262,000 

(1)

Hyundai

Capital

America,

5.950%,

09/21/2026

266,576

0.1

493,000 

(1)

Hyundai

Capital

America,

6.250%,

11/03/2025

500,582

0.1

600,000 

(1)

International

Game

Technology

PLC,

4.125%,

04/15/2026

583,533

0.1

888,000 

Lennar

Corp.,

4.500%,

04/30/2024

883,536

0.2

252,000 

Lowe's

Cos.,

Inc.,

3.350%,

04/01/2027

242,853

0.0

999,000 

(1)

Mattel,

Inc.,

3.375%,

04/01/2026

950,918

0.2

493,000 

(1)(2)

Mercedes-Benz

Finance

North

America

LLC,

5.100%,

08/03/2028

502,881

0.1

600,000 

MGM

Resorts

International,

5.750%,

06/15/2025

598,059

0.1

169,707 

(1)

Mileage

Plus

Holdings

LLC

/

Mileage

Plus

Intellectual

Property

Assets

Ltd.,

6.500%,

06/20/2027

170,312

0.0

1,112,000 

Ross

Stores,

Inc.,

4.600%,

04/15/2025

1,104,324

0.2

600,000 

(1)

Royal

Caribbean

Cruises

Ltd.,

4.250%,

07/01/2026

579,899

0.1

575,000 

Sally

Holdings

LLC

/

Sally

Capital,

Inc.,

5.625%,

12/01/2025

575,503

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Cyclical:

(continued)

344,000 

Toyota

Motor

Credit

Corp.,

4.625%,

01/12/2028

$

348,619

0.1

718,000 

Toyota

Motor

Credit

Corp.,

5.400%,

11/20/2026

735,316

0.1

708,000 

Toyota

Motor

Credit

Corp.,

5.600%,

09/11/2025

719,826

0.1

545,000 

TRI

Pointe

Group,

Inc.

/

TRI

Pointe

Homes,

Inc.,

5.875%,

06/15/2024

545,624

0.1

53,053 

United

Airlines

Pass

Through

Trust

20-1,

A,

5.875%,

04/15/2029

53,774

0.0

89,044 

US

Airways

Pass

Through

Trust

2012-1,

A,

5.900%,

04/01/2026

89,083

0.0

500,000 

(1)(2)

Volkswagen

Group

of

America

Finance

LLC,

5.650%,

09/12/2028

513,429

0.1

409,000 

Walmart,

Inc.,

3.950%,

09/09/2027

407,001

0.1

710,000 

Walmart,

Inc.,

4.000%,

04/15/2026

706,429

0.1

864,000 

Warnermedia

Holdings,

Inc.,

3.755%,

03/15/2027

828,179

0.2

575,000 

(1)

ZF

North

America

Capital,

Inc.,

4.750%,

04/29/2025

568,845

0.1

22,615,701

4.1

Consumer,

Non-cyclical

:

5.6%

728,000 

AbbVie,

Inc.,

2.600%,

11/21/2024

711,547

0.1

1,088,000 

AbbVie,

Inc.,

3.200%,

05/14/2026

1,054,928

0.2

680,000 

Amgen,

Inc.,

3.200%,

11/02/2027

650,016

0.1

1,044,000 

Amgen,

Inc.,

5.250%,

03/02/2025

1,046,779

0.2

1,215,000 

AstraZeneca

PLC,

3.375%,

11/16/2025

1,188,773

0.2

695,000 

Becton

Dickinson

&

Co.,

4.693%,

02/13/2028

698,363

0.1

403,000 

Boston

Scientific

Corp.,

1.900%,

06/01/2025

385,836

0.1

645,000 

Bristol-Myers

Squibb

Co.,

0.750%,

11/13/2025

602,157

0.1

760,000 

Bunge

Ltd.

Finance

Corp.,

1.630%,

08/17/2025

718,854

0.1

215,000 

(1)

Cargill,

Inc.,

3.500%,

04/22/2025

211,443

0.0

263,000 

(1)

Cargill,

Inc.,

3.625%,

04/22/2027

256,042

0.0

888,000 

Cigna

Group,

1.250%,

03/15/2026

823,195

0.2

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

3

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Non-cyclical:

(continued)

314,000 

(1)

CSL

Finance

PLC,

3.850%,

04/27/2027

$

305,874

0.1

1,247,000 

CVS

Health

Corp.,

3.875%,

07/20/2025

1,225,829

0.2

1,398,000 

Diageo

Capital

PLC,

1.375%,

09/29/2025

1,320,352

0.2

681,000 

Diageo

Capital

PLC,

5.300%,

10/24/2027

702,566

0.1

629,000 

(1)

Element

Fleet

Management

Corp.,

3.850%,

06/15/2025

611,804

0.1

315,000 

Equifax,

Inc.,

2.600%,

12/15/2025

300,710

0.1

410,000 

Estee

Lauder

Cos.,

Inc.,

4.375%,

05/15/2028

408,887

0.1

933,000 

GE

HealthCare

Technologies,

Inc.,

5.600%,

11/15/2025

941,573

0.2

920,000 

Global

Payments,

Inc.,

1.200%,

03/01/2026

845,599

0.2

575,000 

(1)

Graham

Holdings

Co.,

5.750%,

06/01/2026

572,010

0.1

999,000 

HCA,

Inc.,

5.875%,

02/15/2026

1,007,914

0.2

600,000 

(1)

Health

Care

Service

Corp.

A

Mutual

Legal

Reserve

Co.,

1.500%,

06/01/2025

569,912

0.1

1,348,000 

Humana,

Inc.,

5.750%,

03/01/2028

1,401,502

0.3

259,000 

Kenvue,

Inc.,

5.500%,

03/22/2025

261,314

0.1

766,000 

(1)

Nestle

Holdings,

Inc.,

4.125%,

10/01/2027

762,379

0.1

715,000 

PepsiCo,

Inc.,

3.600%,

02/18/2028

700,346

0.1

258,000 

PepsiCo,

Inc.,

5.250%,

11/10/2025

261,951

0.1

600,000 

Perrigo

Finance

Unlimited

Co.,

4.375%,

03/15/2026

580,513

0.1

1,360,000 

Pfizer

Investment

Enterprises

Pte

Ltd.,

4.450%,

05/19/2026

1,356,506

0.2

726,000 

(1)

Roche

Holdings,

Inc.,

5.338%,

11/13/2028

753,381

0.1

1,361,000 

Royalty

Pharma

PLC,

1.200%,

09/02/2025

1,270,526

0.2

748,000 

S&P

Global,

Inc.,

2.450%,

03/01/2027

705,746

0.1

1,151,000 

S&P

Global,

Inc.,

2.700%,

03/01/2029

1,065,188

0.2

257,000 

Stryker

Corp.,

4.850%,

12/08/2028

260,055

0.1

575,000 

Tenet

Healthcare

Corp.,

6.250%,

02/01/2027

578,224

0.1

715,000 

Thermo

Fisher

Scientific,

Inc.,

5.000%,

12/05/2026

726,002

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Non-cyclical:

(continued)

1,164,000 

(1)

Triton

Container

International

Ltd.,

1.150%,

06/07/2024

$

1,139,300

0.2

498,000 

UnitedHealth

Group,

Inc.,

2.950%,

10/15/2027

473,088

0.1

486,000 

UnitedHealth

Group,

Inc.,

3.375%,

04/15/2027

470,852

0.1

659,000 

Viatris,

Inc.,

1.650%,

06/22/2025

624,301

0.1

522,000 

Zoetis,

Inc.,

5.400%,

11/14/2025

526,515

0.1

31,078,652

5.6

Energy

:

2.1%

516,000 

Baker

Hughes

Holdings

LLC

/

Baker

Hughes

Co-Obligor,

Inc.,

2.061%,

12/15/2026

483,150

0.1

748,000 

Canadian

Natural

Resources

Ltd.,

2.050%,

07/15/2025

712,998

0.1

550,000 

(1)

Chord

Energy

Corp.,

6.375%,

06/01/2026

550,555

0.1

550,000 

(1)

Crescent

Energy

Finance

LLC,

7.250%,

05/01/2026

553,955

0.1

550,000 

Delek

Logistics

Partners

L.P.

/

Delek

Logistics

Finance

Corp.,

6.750%,

05/15/2025

547,184

0.1

600,000 

EnLink

Midstream

Partners

L.P.,

4.150%,

06/01/2025

587,019

0.1

243,000 

Equinor

ASA,

2.875%,

04/06/2025

237,264

0.0

575,000 

(1)

Hess

Midstream

Operations

L.P.,

5.625%,

02/15/2026

571,297

0.1

590,000 

Kinder

Morgan,

Inc.,

1.750%,

11/15/2026

543,002

0.1

916,000 

Occidental

Petroleum

Corp.,

3.500%,

06/15/2025

892,592

0.2

1,252,000 

ONEOK,

Inc.,

5.850%,

01/15/2026

1,271,202

0.2

385,000 

Ovintiv

Exploration,

Inc.,

5.375%,

01/01/2026

385,223

0.1

551,000 

Phillips

66,

3.850%,

04/09/2025

542,580

0.1

647,000 

Pioneer

Natural

Resources

Co.,

1.125%,

01/15/2026

600,868

0.1

1,252,000 

Plains

All

American

Pipeline

L.P.

/

PAA

Finance

Corp.,

4.650%,

10/15/2025

1,239,365

0.2

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

4

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Energy:

(continued)

263,000 

Schlumberger

Investment

SA,

4.500%,

05/15/2028

$

265,773

0.0

550,000 

Southwestern

Energy

Co.,

5.700%,

01/23/2025

548,153

0.1

333,000 

TransCanada

PipeLines

Ltd.,

1.000%,

10/12/2024

321,286

0.1

889,000 

Williams

Cos.,

Inc.,

4.550%,

06/24/2024

884,393

0.2

11,737,859

2.1

Financial

:

16.1%

653,000 

Aflac,

Inc.,

1.125%,

03/15/2026

603,129

0.1

670,000 

Ally

Financial,

Inc.,

3.875%,

05/21/2024

664,379

0.1

366,000 

American

Express

Co.,

2.500%,

07/30/2024

359,691

0.1

298,000 

(3)

American

Express

Co.,

4.990%,

05/01/2026

297,242

0.1

541,000 

(3)

American

Express

Co.,

5.389%,

07/28/2027

547,356

0.1

438,000 

American

Tower

Corp.,

3.650%,

03/15/2027

421,573

0.1

112,000 

American

Tower

Corp.,

5.250%,

07/15/2028

113,865

0.0

850,000 

Ameriprise

Financial,

Inc.,

3.000%,

04/02/2025

829,653

0.1

958,000 

(1)

Aviation

Capital

Group

LLC,

5.500%,

12/15/2024

953,341

0.2

1,175,000 

(1)

Avolon

Holdings

Funding

Ltd.,

2.528%,

11/18/2027

1,042,062

0.2

400,000 

Banco

Santander

SA,

5.588%,

08/08/2028

408,281

0.1

1,406,000 

(3)

Bank

of

America

Corp.,

0.976%,

04/22/2025

1,383,747

0.2

1,422,000 

(3)

Bank

of

America

Corp.,

1.734%,

07/22/2027

1,303,293

0.2

38,000 

(3)

Bank

of

America

Corp.,

3.419%,

12/20/2028

35,820

0.0

123,000 

(3)

Bank

of

America

Corp.,

3.705%,

04/24/2028

117,537

0.0

422,000 

(3)

Bank

of

America

Corp.,

4.376%,

04/27/2028

412,665

0.1

1,165,000 

(3)

Bank

of

America

Corp.,

5.202%,

04/25/2029

1,172,954

0.2

1,281,000 

(3)

Bank

of

America

Corp.,

MTN,

1.319%,

06/19/2026

1,206,364

0.2

684,000 

(3)

Bank

of

America

Corp.,

MTN,

2.015%,

02/13/2026

657,454

0.1

239,000 

(3)

Bank

of

America

Corp.

N,

1.658%,

03/11/2027

221,191

0.0

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

271,000 

Bank

of

America

NA,

5.526%,

08/18/2026

$

276,096

0.0

1,055,000 

Bank

of

Montreal,

5.300%,

06/05/2026

1,065,864

0.2

229,000 

(3)

Bank

of

New

York

Mellon

Corp.,

4.414%,

07/24/2026

226,714

0.0

447,000 

(3)

Bank

of

New

York

Mellon

Corp.,

4.947%,

04/26/2027

447,319

0.1

598,000 

Bank

of

Nova

Scotia,

0.700%,

04/15/2024

589,999

0.1

593,000 

Bank

of

Nova

Scotia,

1.450%,

01/10/2025

570,618

0.1

522,000 

Bank

of

Nova

Scotia,

MTN,

3.450%,

04/11/2025

511,121

0.1

362,000 

Berkshire

Hathaway,

Inc.,

3.125%,

03/15/2026

352,229

0.1

788,000 

(1)

Blackstone

Holdings

Finance

Co.

LLC,

1.625%,

08/05/2028

686,156

0.1

329,000 

(1)

Blackstone

Holdings

Finance

Co.

LLC,

2.500%,

01/10/2030

282,091

0.0

457,000 

(1)

Blackstone

Holdings

Finance

Co.

LLC,

5.900%,

11/03/2027

474,461

0.1

297,000 

Brookfield

Finance,

Inc.,

4.000%,

04/01/2024

295,673

0.0

328,000 

(1)(3)

CaixaBank

SA,

6.684%,

09/13/2027

336,467

0.1

304,000 

Camden

Property

Trust,

4.100%,

10/15/2028

296,021

0.1

315,000 

(3)

Capital

One

Financial

Corp.,

1.878%,

11/02/2027

283,505

0.0

598,000 

(3)

Capital

One

Financial

Corp.,

4.166%,

05/09/2025

593,624

0.1

535,000 

(3)

Capital

One

Financial

Corp.,

5.468%,

02/01/2029

533,813

0.1

419,000 

(3)

Charles

Schwab

Corp.,

5.643%,

05/19/2029

430,031

0.1

526,000 

Charles

Schwab

Corp.,

5.875%,

08/24/2026

539,675

0.1

615,000 

(1)

CNO

Global

Funding,

1.650%,

01/06/2025

587,985

0.1

550,000 

(1)(3)

Cooperatieve

Rabobank

UA,

1.339%,

06/24/2026

518,802

0.1

507,000 

Corebridge

Financial,

Inc.,

3.650%,

04/05/2027

488,004

0.1

651,000 

(1)

Corebridge

Global

Funding,

0.900%,

09/22/2025

604,657

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

5

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

121,000 

Credit

Suisse

AG/

New

York

NY,

2.950%,

04/09/2025

$

117,371

0.0

1,776,000 

Credit

Suisse

AG/New

York

NY,

MTN,

3.625%,

09/09/2024

1,751,686

0.3

1,210,000 

Crown

Castle,

Inc.,

1.350%,

07/15/2025

1,142,046

0.2

628,000 

(1)(3)

Danske

Bank

A/S,

0.976%,

09/10/2025

607,508

0.1

338,000 

(1)(3)

Danske

Bank

A/S,

3.773%,

03/28/2025

336,299

0.1

556,000 

(1)(3)

Danske

Bank

A/S,

4.298%,

04/01/2028

539,223

0.1

947,000 

Discover

Financial

Services,

3.950%,

11/06/2024

931,407

0.2

561,000 

(1)(3)

DNB

Bank

ASA,

2.968%,

03/28/2025

557,470

0.1

836,000 

(1)(3)

DNB

Bank

ASA,

5.896%,

10/09/2026

844,463

0.1

703,000 

Equinix,

Inc.,

1.250%,

07/15/2025

661,602

0.1

954,000 

Federal

Realty

OP

L.P.,

3.950%,

01/15/2024

953,017

0.2

1,654,000 

(1)

Federation

des

Caisses

Desjardins

du

Quebec,

2.050%,

02/10/2025

1,596,163

0.3

597,000 

Fifth

Third

Bank

NA,

3.850%,

03/15/2026

574,410

0.1

600,000 

(1)

GA

Global

Funding

Trust,

3.850%,

04/11/2025

588,347

0.1

354,000 

(3)

Goldman

Sachs

Group,

Inc.,

2.640%,

02/24/2028

328,306

0.1

285,000 

(3)

Goldman

Sachs

Group,

Inc.,

5.861%,

(SOFRRATE

+

0.486%),

10/21/2024

284,680

0.0

324,000 

Hanover

Insurance

Group,

Inc.,

4.500%,

04/15/2026

318,330

0.1

667,000 

(3)

HSBC

Holdings

PLC,

1.589%,

05/24/2027

612,054

0.1

1,000,000 

(3)

HSBC

Holdings

PLC,

2.099%,

06/04/2026

952,349

0.2

407,000 

(3)

HSBC

Holdings

PLC,

2.633%,

11/07/2025

396,950

0.1

736,000 

(3)

ING

Groep

NV,

4.017%,

03/28/2028

714,296

0.1

309,000 

(3)

ING

Groep

NV,

6.083%,

09/11/2027

315,547

0.1

1,487,000 

(3)

JPMorgan

Chase

&

Co.,

0.824%,

06/01/2025

1,455,604

0.3

519,000 

(3)

JPMorgan

Chase

&

Co.,

0.969%,

06/23/2025

506,961

0.1

593,000 

(3)

JPMorgan

Chase

&

Co.,

1.470%,

09/22/2027

537,503

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

519,000 

(3)

JPMorgan

Chase

&

Co.,

1.578%,

04/22/2027

$

479,147

0.1

203,000 

(3)

JPMorgan

Chase

&

Co.,

2.069%,

06/01/2029

180,092

0.0

995,000 

(3)

JPMorgan

Chase

&

Co.,

2.083%,

04/22/2026

953,393

0.2

36,000 

(3)

JPMorgan

Chase

&

Co.,

2.301%,

10/15/2025

35,086

0.0

169,000 

(3)

JPMorgan

Chase

&

Co.,

2.595%,

02/24/2026

163,747

0.0

691,000 

(3)

JPMorgan

Chase

&

Co.,

2.947%,

02/24/2028

650,422

0.1

500,000 

(3)

JPMorgan

Chase

&

Co.,

3.509%,

01/23/2029

474,138

0.1

119,000 

(3)

JPMorgan

Chase

&

Co.,

3.960%,

01/29/2027

116,299

0.0

300,000 

(3)

JPMorgan

Chase

&

Co.,

5.299%,

07/24/2029

304,589

0.1

1,566,000 

(3)

JPMorgan

Chase

&

Co.,

5.546%,

12/15/2025

1,567,576

0.3

712,000 

(3)

JPMorgan

Chase

&

Co.,

6.070%,

10/22/2027

732,725

0.1

597,000 

KeyBank

NA/

Cleveland

OH,

4.390%,

12/14/2027

561,905

0.1

491,000 

(3)

Lloyds

Banking

Group

PLC,

3.870%,

07/09/2025

486,458

0.1

707,000 

(3)

Lloyds

Banking

Group

PLC,

5.985%,

08/07/2027

719,874

0.1

1,047,000 

(1)

LSEGA

Financing

PLC,

0.650%,

04/06/2024

1,032,140

0.2

806,000 

(1)

LSEGA

Financing

PLC,

1.375%,

04/06/2026

743,727

0.1

681,000 

(3)

Mitsubishi

UFJ

Financial

Group,

Inc.,

0.953%,

07/19/2025

663,661

0.1

753,000 

(3)

Mitsubishi

UFJ

Financial

Group,

Inc.,

0.962%,

10/11/2025

726,160

0.1

400,000 

Mitsubishi

UFJ

Financial

Group,

Inc.,

1.412%,

07/17/2025

377,562

0.1

720,000 

(3)

Mitsubishi

UFJ

Financial

Group,

Inc.,

1.538%,

07/20/2027

658,195

0.1

316,000 

(3)

Mitsubishi

UFJ

Financial

Group,

Inc.,

4.788%,

07/18/2025

314,540

0.1

200,000 

(3)

Mizuho

Financial

Group,

Inc.,

2.555%,

09/13/2025

196,009

0.0

1,624,000 

(3)

Morgan

Stanley,

0.790%,

05/30/2025

1,588,073

0.3

715,000 

(3)

Morgan

Stanley,

1.593%,

05/04/2027

659,068

0.1

311,000 

(3)

Morgan

Stanley,

2.188%,

04/28/2026

298,898

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

6

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

574,000 

(3)

Morgan

Stanley,

2.475%,

01/21/2028

$

533,018

0.1

425,000 

(3)

Morgan

Stanley,

5.123%,

02/01/2029

427,172

0.1

1,218,000 

(3)

Morgan

Stanley,

GMTN,

0.791%,

01/22/2025

1,214,450

0.2

914,000 

(3)

Morgan

Stanley,

GMTN,

1.512%,

07/20/2027

835,264

0.1

1,381,000 

(3)

Morgan

Stanley,

MTN,

1.164%,

10/21/2025

1,329,390

0.2

154,000 

(3)

Morgan

Stanley,

MTN,

2.720%,

07/22/2025

151,479

0.0

447,000 

Morgan

Stanley,

MTN,

3.125%,

07/27/2026

428,161

0.1

1,167,000 

(3)

Morgan

Stanley,

MTN,

5.164%,

04/20/2029

1,174,361

0.2

533,000 

Morgan

Stanley

Bank

NA,

4.754%,

04/21/2026

532,823

0.1

374,000 

National

Australia

Bank

Ltd./New

York,

3.500%,

06/09/2025

367,968

0.1

487,000 

National

Bank

of

Canada

FXD,

0.750%,

08/06/2024

473,346

0.1

556,000 

(1)

National

Securities

Clearing

Corp.,

5.000%,

05/30/2028

566,865

0.1

600,000 

(1)

Nationstar

Mortgage

Holdings,

Inc.,

5.000%,

02/01/2026

587,150

0.1

532,000 

(1)

Nationwide

Building

Society,

1.500%,

10/13/2026

483,829

0.1

398,000 

(3)

NatWest

Group

PLC,

4.269%,

03/22/2025

396,653

0.1

545,000 

Navient

Corp.,

6.750%,

06/25/2025

551,837

0.1

403,000 

(1)

Nordea

Bank

Abp,

0.625%,

05/24/2024

395,523

0.1

374,000 

(1)

Nordea

Bank

Abp,

3.600%,

06/06/2025

366,854

0.1

551,000 

(1)

Northwestern

Mutual

Global

Funding,

0.800%,

01/14/2026

509,867

0.1

893,000 

Old

Republic

International

Corp.,

4.875%,

10/01/2024

886,484

0.2

600,000 

OneMain

Finance

Corp.,

6.875%,

03/15/2025

607,851

0.1

219,000 

(1)

Pacific

Life

Global

Funding

II,

1.200%,

06/24/2025

207,786

0.0

394,000 

(1)

Pacific

Life

Global

Funding

II,

1.375%,

04/14/2026

364,269

0.1

352,000 

Prologis

L.P.,

4.875%,

06/15/2028

356,828

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

340,000 

Public

Storage

Operating

Co.,

5.125%,

01/15/2029

$

351,206

0.1

457,000 

Royal

Bank

of

Canada,

GMTN,

1.150%,

07/14/2026

418,274

0.1

592,000 

Royal

Bank

of

Canada,

GMTN,

1.600%,

01/21/2025

571,418

0.1

722,000 

Royal

Bank

of

Canada,

GMTN,

5.200%,

07/20/2026

730,099

0.1

727,000 

(3)

Santander

UK

Group

Holdings

PLC,

6.833%,

11/21/2026

740,908

0.1

562,000 

Sixth

Street

Specialty

Lending,

Inc.,

3.875%,

11/01/2024

552,114

0.1

810,000 

(1)(2)

Skandinaviska

Enskilda

Banken

AB,

0.650%,

09/09/2024

783,598

0.1

534,000 

(1)

Skandinaviska

Enskilda

Banken

AB,

3.700%,

06/09/2025

525,040

0.1

744,000 

(1)(3)

Societe

Generale

SA,

2.226%,

01/21/2026

714,957

0.1

284,000 

(3)

State

Street

Corp.,

5.684%,

11/21/2029

293,820

0.0

888,000 

Sumitomo

Mitsui

Financial

Group,

Inc.,

1.474%,

07/08/2025

840,544

0.1

750,000 

Sumitomo

Mitsui

Financial

Group,

Inc.,

2.696%,

07/16/2024

739,217

0.1

230,000 

Sumitomo

Mitsui

Financial

Group,

Inc.,

5.716%,

09/14/2028

238,326

0.0

535,000 

(1)

Sumitomo

Mitsui

Trust

Bank

Ltd.,

0.800%,

09/16/2024

517,560

0.1

241,000 

(1)

Sumitomo

Mitsui

Trust

Bank

Ltd.,

5.650%,

09/14/2026

245,018

0.0

533,000 

(1)(2)

Svenska

Handelsbanken

AB,

3.650%,

06/10/2025

523,295

0.1

447,000 

(1)

Swedbank

AB,

3.356%,

04/04/2025

437,879

0.1

576,000 

Toronto-Dominion

Bank,

3.766%,

06/06/2025

567,019

0.1

594,000 

Toronto-Dominion

Bank,

MTN,

0.700%,

09/10/2024

575,375

0.1

859,000 

Toronto-Dominion

Bank,

MTN,

5.532%,

07/17/2026

875,734

0.2

592,000 

Toronto-Dominion

Bank

FXD,

FXD,

1.450%,

01/10/2025

570,838

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

7

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

370,000 

(3)

Truist

Financial

Corp.,

MTN,

1.267%,

03/02/2027

$

338,873

0.1

491,000 

(3)

Truist

Financial

Corp.,

MTN,

1.887%,

06/07/2029

424,612

0.1

425,000 

(3)

Truist

Financial

Corp.,

MTN,

4.260%,

07/28/2026

416,497

0.1

515,000 

(1)

UBS

AG/London,

0.700%,

08/09/2024

500,972

0.1

321,000 

UBS

AG/London,

5.800%,

09/11/2025

324,817

0.1

1,249,000 

(1)(3)

UBS

Group

AG,

2.193%,

06/05/2026

1,188,501

0.2

451,000 

(1)(3)

UBS

Group

AG,

4.488%,

05/12/2026

444,459

0.1

539,000 

(1)(3)

UBS

Group

AG,

4.490%,

08/05/2025

535,092

0.1

406,000 

(3)

US

Bancorp,

5.775%,

06/12/2029

417,393

0.1

999,000 

(1)

VICI

Properties

L.P.

/

VICI

Note

Co.,

Inc.,

3.500%,

02/15/2025

974,080

0.2

777,000 

(1)

VICI

Properties

L.P.

/

VICI

Note

Co.,

Inc.,

4.625%,

06/15/2025

763,694

0.1

222,000 

(1)

VICI

Properties

L.P.

/

VICI

Note

Co.,

Inc.,

5.625%,

05/01/2024

221,416

0.0

97,000 

(3)

Wells

Fargo

&

Co.,

MTN,

2.164%,

02/11/2026

93,401

0.0

383,000 

(3)

Wells

Fargo

&

Co.,

MTN,

3.526%,

03/24/2028

365,569

0.1

116,000 

(3)

Wells

Fargo

&

Co.,

MTN,

4.540%,

08/15/2026

114,834

0.0

281,000 

(3)

Wells

Fargo

&

Co.,

MTN,

5.574%,

07/25/2029

287,087

0.0

574,000 

Wells

Fargo

Bank

NA,

5.450%,

08/07/2026

583,590

0.1

550,000 

(1)

XHR

L.P.,

6.375%,

08/15/2025

549,095

0.1

90,155,047

16.1

Industrial

:

2.6%

735,000 

Avnet,

Inc.,

6.250%,

03/15/2028

761,937

0.1

600,000 

(2)

Ball

Corp.,

4.875%,

03/15/2026

598,184

0.1

921,000 

Boeing

Co.,

4.875%,

05/01/2025

917,161

0.2

570,000 

(1)

Brundage-Bone

Concrete

Pumping

Holdings,

Inc.,

6.000%,

02/01/2026

570,419

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Industrial:

(continued)

575,000 

(1)

Cascades,

Inc.

/

Cascades

USA,

Inc.,

5.125%,

01/15/2026

$

562,338

0.1

1,225,000 

CNH

Industrial

Capital

LLC,

5.450%,

10/14/2025

1,231,013

0.2

550,000 

(1)

Fortress

Transportation

and

Infrastructure

Investors

LLC,

6.500%,

10/01/2025

548,740

0.1

480,000 

(1)

Graphic

Packaging

International

LLC,

0.821%,

04/15/2024

473,633

0.1

368,000 

HEICO

Corp.,

5.250%,

08/01/2028

375,986

0.1

251,000 

(2)

John

Deere

Capital

Corp.,

MTN,

2.350%,

03/08/2027

235,983

0.0

178,000 

John

Deere

Capital

Corp.,

MTN,

4.950%,

07/14/2028

182,599

0.0

271,000 

L3Harris

Technologies,

Inc.,

5.400%,

01/15/2027

276,756

0.1

396,000 

Lockheed

Martin

Corp.,

5.100%,

11/15/2027

408,975

0.1

405,000 

(1)

Penske

Truck

Leasing

Co.

L.P.

/

PTL

Finance

Corp.,

6.050%,

08/01/2028

420,190

0.1

1,239,000 

Raytheon

Technologies

Corp.,

3.950%,

08/16/2025

1,221,361

0.2

347,000 

Raytheon

Technologies

Corp.,

5.000%,

02/27/2026

348,526

0.1

777,000 

Republic

Services,

Inc.,

2.500%,

08/15/2024

762,565

0.1

600,000 

(1)

Rolls-Royce

PLC,

3.625%,

10/14/2025

578,550

0.1

707,000 

Ryder

System,

Inc.,

MTN,

5.250%,

06/01/2028

716,835

0.1

550,000 

(1)

Sealed

Air

Corp.,

5.500%,

09/15/2025

550,547

0.1

140,000 

(1)

Sensata

Technologies

BV,

5.000%,

10/01/2025

140,257

0.0

920,000 

Teledyne

Technologies,

Inc.,

0.950%,

04/01/2024

909,608

0.2

575,000 

(1)

TransDigm,

Inc.,

6.250%,

03/15/2026

574,590

0.1

707,000 

(1)

Veralto

Corp.,

5.500%,

09/18/2026

716,341

0.1

690,000 

Waste

Management,

Inc.,

4.875%,

02/15/2029

706,559

0.1

14,789,653

2.6

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

8

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Technology

:

3.4%

364,000 

Analog

Devices,

Inc.,

2.950%,

04/01/2025

$

356,440

0.1

252,000 

Apple,

Inc.,

1.125%,

05/11/2025

240,495

0.0

731,000 

Broadcom,

Inc.,

3.459%,

09/15/2026

707,185

0.1

999,000 

CDW

LLC

/

CDW

Finance

Corp.,

5.500%,

12/01/2024

996,716

0.2

89,000 

Concentrix

Corp.,

6.600%,

08/02/2028

91,629

0.0

1,101,000 

Fidelity

National

Information

Services,

Inc.,

0.600%,

03/01/2024

1,091,463

0.2

1,244,000 

Fidelity

National

Information

Services,

Inc.,

1.150%,

03/01/2026

1,149,909

0.2

342,000 

Fidelity

National

Information

Services,

Inc.,

4.700%,

07/15/2027

342,208

0.1

1,044,000 

Fiserv,

Inc.,

2.750%,

07/01/2024

1,028,702

0.2

685,000 

Fiserv,

Inc.,

5.450%,

03/02/2028

705,964

0.1

1,059,000 

HP,

Inc.,

2.200%,

06/17/2025

1,014,500

0.2

297,000 

Intel

Corp.,

3.700%,

07/29/2025

292,394

0.0

659,000 

Intel

Corp.,

3.750%,

08/05/2027

646,143

0.1

1,039,000 

(2)

Intel

Corp.,

4.875%,

02/10/2026

1,046,977

0.2

651,000 

(2)

International

Business

Machines

Corp.,

4.000%,

07/27/2025

644,122

0.1

702,000 

(2)

International

Business

Machines

Corp.,

4.500%,

02/06/2026

700,517

0.1

427,000 

International

Business

Machines

Corp.,

6.500%,

01/15/2028

457,841

0.1

1,060,000 

Intuit,

Inc.,

5.250%,

09/15/2026

1,081,066

0.2

999,000 

Microchip

Technology,

Inc.,

4.250%,

09/01/2025

984,390

0.2

1,008,000 

NetApp,

Inc.,

1.875%,

06/22/2025

959,473

0.2

923,000 

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.,

2.700%,

05/01/2025

890,524

0.2

643,000 

Oracle

Corp.,

1.650%,

03/25/2026

599,991

0.1

313,000 

Oracle

Corp.,

2.500%,

04/01/2025

302,747

0.1

633,000 

Oracle

Corp.,

2.650%,

07/15/2026

600,473

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Technology:

(continued)

682,000 

Take-Two

Interactive

Software,

Inc.,

3.550%,

04/14/2025

$

667,845

0.1

780,000 

VMware,

Inc.,

1.000%,

08/15/2024

757,847

0.1

421,000 

VMware,

Inc.,

1.400%,

08/15/2026

385,209

0.1

290,000 

Workday,

Inc.,

3.500%,

04/01/2027

280,729

0.0

19,023,499

3.4

Utilities

:

4.4%

518,000 

(1)

AEP

Texas,

Inc.,

3.850%,

10/01/2025

503,497

0.1

399,000 

AES

Corp.,

1.375%,

01/15/2026

369,360

0.1

299,000 

(1)

AES

Corp.,

3.300%,

07/15/2025

288,198

0.0

1,119,000 

AES

Corp.,

5.450%,

06/01/2028

1,138,341

0.2

579,000 

Alabama

Power

Co.,

3.750%,

09/01/2027

567,389

0.1

502,000 

Ameren

Corp.,

5.700%,

12/01/2026

513,599

0.1

607,000 

Ameren

Illinois

Co.,

3.800%,

05/15/2028

591,304

0.1

563,000 

American

Electric

Power

Co.,

Inc.,

2.031%,

03/15/2024

558,454

0.1

637,000 

American

Electric

Power

Co.,

Inc.,

5.200%,

01/15/2029

646,010

0.1

286,000 

(1)

Aquarion

Co.,

4.000%,

08/15/2024

283,009

0.0

169,000 

Arizona

Public

Service

Co.,

3.350%,

06/15/2024

167,114

0.0

551,000 

Avangrid,

Inc.,

3.200%,

04/15/2025

535,683

0.1

403,000 

Black

Hills

Corp.,

1.037%,

08/23/2024

391,281

0.1

315,000 

Consumers

Energy

Co.,

4.900%,

02/15/2029

320,799

0.1

582,000 

(3)

DTE

Energy

Co.,

4.220%,

11/01/2024

575,554

0.1

1,032,000 

(1)

East

Ohio

Gas

Co.,

1.300%,

06/15/2025

976,228

0.2

697,000 

(1)

Enel

Finance

International

NV,

6.800%,

10/14/2025

714,911

0.1

927,000 

Entergy

Corp.,

0.900%,

09/15/2025

862,438

0.2

438,000 

Eversource

Energy,

2.900%,

03/01/2027

414,892

0.1

713,000 

Eversource

Energy,

4.750%,

05/15/2026

709,568

0.1

306,000 

Florida

Power

&

Light

Co.,

4.400%,

05/15/2028

306,748

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

9

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Utilities:

(continued)

1,238,000 

Florida

Power

&

Light

Co.,

4.450%,

05/15/2026

$

1,239,891

0.2

369,000 

Interstate

Power

and

Light

Co.,

3.250%,

12/01/2024

361,716

0.1

351,000 

IPALCO

Enterprises,

Inc.,

3.700%,

09/01/2024

345,559

0.1

417,000 

National

Rural

Utilities

Cooperative

Finance

Corp.,

MTN,

1.875%,

02/07/2025

402,775

0.1

359,000 

National

Rural

Utilities

Cooperative

Finance

Corp.,

MTN,

5.600%,

11/13/2026

368,568

0.1

392,000 

(1)

New

York

State

Electric

&

Gas

Corp.,

5.650%,

08/15/2028

402,246

0.1

516,000 

NextEra

Energy

Capital

Holdings,

Inc.,

1.875%,

01/15/2027

474,841

0.1

446,000 

NextEra

Energy

Capital

Holdings,

Inc.,

1.900%,

06/15/2028

396,075

0.1

464,000 

NextEra

Energy

Capital

Holdings,

Inc.,

4.625%,

07/15/2027

463,467

0.1

257,000 

NextEra

Energy

Capital

Holdings,

Inc.,

4.900%,

02/28/2028

259,571

0.0

621,000 

NiSource,

Inc.,

0.950%,

08/15/2025

580,938

0.1

418,000 

(1)

NRG

Energy,

Inc.,

3.750%,

06/15/2024

413,279

0.1

632,000 

ONE

Gas,

Inc.,

5.100%,

04/01/2029

644,912

0.1

617,459 

PG&E

Wildfire

Recovery

Funding

LLC

A-1,

3.594%,

06/01/2032

594,771

0.1

200,000 

Public

Service

Electric

and

Gas

Co.

I,

I,

3.750%,

03/15/2024

199,170

0.0

647,000 

Public

Service

Enterprise

Group,

Inc.,

0.800%,

08/15/2025

604,938

0.1

170,000 

Public

Service

Enterprise

Group,

Inc.,

5.850%,

11/15/2027

177,083

0.0

220,000 

Sempra

Energy,

5.400%,

08/01/2026

222,996

0.0

1,252,000 

Sierra

Pacific

Power

Co.,

2.600%,

05/01/2026

1,193,297

0.2

1,529,000 

Southern

Co.

21-A,

0.600%,

02/26/2024

1,516,939

0.3

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Utilities:

(continued)

283,000 

Southern

Co.

Gas

Capital

Corp.,

3.250%,

06/15/2026

$

272,461

0.0

351,000 

(1)

Trans-Allegheny

Interstate

Line

Co.,

3.850%,

06/01/2025

344,042

0.1

600,000 

(1)

Vistra

Operations

Co.

LLC,

5.500%,

09/01/2026

592,746

0.1

23,000 

WEC

Energy

Group,

Inc.,

2.200%,

12/15/2028

20,480

0.0

815,000 

WEC

Energy

Group,

Inc.,

4.750%,

01/09/2026

812,154

0.1

51,000 

WEC

Energy

Group,

Inc.,

5.000%,

09/27/2025

50,919

0.0

71,000 

WEC

Energy

Group,

Inc.,

5.150%,

10/01/2027

72,081

0.0

24,462,292

4.4

Total

Corporate

Bonds/

Notes

(Cost

$234,700,061)

233,528,796

41.8

U.S.

TREASURY

OBLIGATIONS

:

31.2%

United

States

Treasury

Notes

:

31.2%

73,152,000 

2.125

%,

09/30/2024

71,654,407

12.8

404,200 

3.750

%,

12/31/2028

402,400

0.1

32,892,000 

4.250

%,

12/31/2025

32,888,145

5.9

67,074,100 

4.250

%,

12/15/2026

67,739,601

12.1

86,100 

4.375

%,

11/30/2028

88,118

0.0

1,377,000 

4.875

%,

11/30/2025

1,391,362

0.3

174,164,033

31.2

Total

U.S.

Treasury

Obligations

(Cost

$173,402,603)

174,164,033

31.2

ASSET-BACKED

SECURITIES

:

15.2%

Automobile

Asset-Backed

Securities

:

4.2%

750,000 

Americredit

Automobile

Receivables

Trust

2023-1

A3,

5.620%,

11/18/2027

754,774

0.2

148,197 

AmeriCredit

Automobile

Receivables

Trust

2020-1

C,

1.590%,

10/20/2025

147,067

0.0

636,262 

AmeriCredit

Automobile

Receivables

Trust

2021-3

A3,

0.760%,

08/18/2026

621,577

0.1

700,000 

AmeriCredit

Automobile

Receivables

Trust

2021-3

B,

1.170%,

08/18/2027

663,605

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

10

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

ASSET-BACKED

SECURITIES:

(continued)

Automobile

Asset-Backed

Securities:

(continued)

2,850,000 

Carmax

Auto

Owner

Trust

2023-3

B,

5.470%,

02/15/2029

$

2,866,110

0.5

150,000 

CarMax

Auto

Owner

Trust

2021-2

B,

1.030%,

12/15/2026

140,775

0.0

300,000 

CarMax

Auto

Owner

Trust

2022-1

B,

1.950%,

09/15/2027

280,427

0.1

664,745 

Carvana

Auto

Receivables

Trust

2022-P1

A3,

3.350%,

02/10/2027

653,300

0.1

1,650,000 

(1)

Chase

Auto

Owner

Trust

2023-AA

A3,

5.680%,

01/25/2029

1,683,508

0.3

900,000 

Ford

Credit

Auto

Owner

Trust

2022-A

B,

1.910%,

07/15/2027

846,746

0.2

450,000 

GM

Financial

Automobile

Leasing

Trust

2023-1

A4,

5.160%,

01/20/2027

449,935

0.1

400,000 

GM

Financial

Consumer

Automobile

Receivables

Trust

2022-4

B,

5.500%,

08/16/2028

403,396

0.1

550,000 

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-1

A3,

4.660%,

02/16/2028

548,339

0.1

1,750,000 

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-3

A4,

5.340%,

12/18/2028

1,782,896

0.3

2,600,000 

(1)

GM

Financial

Revolving

Receivables

Trust

2021-1

A,

1.170%,

06/12/2034

2,357,015

0.4

1,050,000 

Hyundai

Auto

Receivables

Trust

2021-C

B,

1.490%,

12/15/2027

975,786

0.2

182,328 

(1)

JPMorgan

Chase

Bank

NA

-

CACLN

2021-3

B,

0.760%,

02/26/2029

175,965

0.0

1,600,000 

Nissan

Auto

Lease

Trust

2023-B

A4,

5.610%,

11/15/2027

1,616,887

0.3

727,380 

(1)

Oscar

US

Funding

XIII

LLC

2021-2A

A3,

0.860%,

09/10/2025

718,092

0.1

1,250,000 

(1)

Porsche

Financial

Auto

Securitization

Trust

2023-1A

A4,

4.720%,

06/23/2031

1,248,226

0.2

2,600,000 

Santander

Drive

Auto

Receivables

Trust

2023-3

B,

5.610%,

07/17/2028

2,614,050

0.5

Principal

Amount†

Value

Percentage

of

Net

Assets

ASSET-BACKED

SECURITIES:

(continued)

Automobile

Asset-Backed

Securities:

(continued)

1,800,000 

(1)

Tesla

Auto

Lease

Trust

2023-A

A3,

5.890%,

06/22/2026

$

1,808,167

0.3

23,356,643

4.2

Credit

Card

Asset-Backed

Securities

:

0.1%

800,000 

(1)

CARDS

II

Trust

2021-1A

A,

0.602%,

04/15/2027

788,282

0.1

Other

Asset-Backed

Securities

:

9.4%

550,000 

(1)(3)

AB

BSL

CLO

4

Ltd.

2023-4A

A,

7.416%,

(TSFR3M

+

2.000%),

04/20/2036

552,588

0.1

2,000,000 

(1)(3)

Arbor

Realty

Commercial

Real

Estate

Notes

Ltd.

2021-FL4

A,

6.826%,

(TSFR1M

+

1.464%),

11/15/2036

1,991,228

0.3

400,000 

(1)(3)

ARES

XLVI

CLO

Ltd.

2017-46A

A2,

6.885%,

(TSFR3M

+

1.492%),

01/15/2030

398,522

0.1

1,900,000 

(1)(3)

Ballyrock

CLO

17

Ltd.

2021-17A

A1B,

7.077%,

(TSFR3M

+

1.662%),

10/20/2034

1,891,638

0.3

500,000 

(1)(3)

Barings

Clo

Ltd.

2019-4A

A1,

6.985%,

(TSFR3M

+

1.592%),

01/15/2033

500,868

0.1

250,000 

(1)(3)

Barings

CLO

Ltd.

2017-1A

A2,

7.007%,

(TSFR3M

+

1.612%),

07/18/2029

249,436

0.0

2,000,000 

(1)(3)

Benefit

Street

Partners

CLO

XX

Ltd.

2020-20A

AR,

6.825%,

(TSFR3M

+

1.432%),

07/15/2034

2,002,426

0.4

2,500,000 

(1)(3)

BlueMountain

CLO

XXXII

Ltd.

2021-32A

A,

6.825%,

(TSFR3M

+

1.432%),

10/15/2034

2,503,095

0.4

4,000,000 

(1)(3)

BRSP

Ltd.

2021-FL1

B,

7.370%,

(TSFR1M

+

2.014%),

08/19/2038

3,794,197

0.7

450,000 

(1)(3)

Carlyle

US

Clo

Ltd.

2017-2A

AJR,

7.077%,

(TSFR3M

+

1.662%),

07/20/2031

448,504

0.1

800,000 

(1)(3)

CARLYLE

US

CLO

Ltd.

2021-4A

A2,

7.077%,

(TSFR3M

+

1.662%),

04/20/2034

795,387

0.1

250,000 

(1)(3)

CIFC

Funding

Ltd.

2019-6A

A2,

7.405%,

(TSFR3M

+

2.012%),

01/16/2033

250,435

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

11

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

ASSET-BACKED

SECURITIES:

(continued)

Other

Asset-Backed

Securities:

(continued)

1,618,577 

CNH

Equipment

Trust

2021-B

A3,

0.440%,

08/17/2026

$

1,565,732

0.3

494,197 

CNH

Equipment

Trust

2021-C

A3,

0.810%,

12/15/2026

475,411

0.1

148,649 

(1)(3)

Deer

Creek

Clo

Ltd.

2017-1A

A,

6.857%,

(TSFR3M

+

1.442%),

10/20/2030

148,840

0.0

1,750,000 

(1)

DLLAA

LLC

2023-1A

A3,

5.640%,

02/22/2028

1,780,142

0.3

316,607 

(1)(3)

Dryden

XXVIII

Senior

Loan

Fund

2013-

28A

A1LR,

6.852%,

(TSFR3M

+

1.462%),

08/15/2030

317,158

0.1

250,000 

(1)(3)

Eaton

Vance

Clo

Ltd.

2015-1A

A2R,

6.927%,

(TSFR3M

+

1.512%),

01/20/2030

247,463

0.0

112,927 

(1)(3)

Elevation

CLO

Ltd.

2014-2A

A1R,

6.885%,

(TSFR3M

+

1.492%),

10/15/2029

112,952

0.0

400,000 

(1)(3)

HGI

CRE

CLO

Ltd.

2022-FL3

A,

7.038%,

(SOFR30A

+

1.700%),

04/20/2037

400,701

0.1

1,523,264 

John

Deere

Owner

Trust

2021-B

A3,

0.520%,

03/16/2026

1,482,389

0.3

450,000 

John

Deere

Owner

Trust

2022

2022-A

A4,

2.490%,

01/16/2029

431,156

0.1

1,682,724 

(1)

Kubota

Credit

Owner

Trust

2021-2A

A3,

0.560%,

11/17/2025

1,636,937

0.3

1,100,000 

(1)

Kubota

Credit

Owner

Trust

2023-1A

A3,

5.020%,

06/15/2027

1,106,066

0.2

1,474,994 

(1)(3)

LCM

26

Ltd.

26A

A1,

6.747%,

(TSFR3M

+

1.332%),

01/20/2031

1,476,773

0.3

2,750,000 

(1)(3)

Magnetite

XXVI

Ltd.

2020-26A

A2R,

7.040%,

(TSFR3M

+

1.662%),

07/25/2034

2,731,344

0.5

500,000 

(1)(3)

Marble

Point

CLO

XIV

Ltd.

2018-2A

A1R,

6.957%,

(TSFR3M

+

1.542%),

01/20/2032

500,353

0.1

1,575,000 

(1)(3)

MF1

Ltd.

2021-FL6

C,

7.323%,

(TSFR1M

+

1.964%),

07/16/2036

1,518,774

0.3

1,000,000 

(1)(3)

MF1

Ltd.

2022-FL8

A,

6.706%,

(TSFR1M

+

1.350%),

02/19/2037

988,016

0.2

Principal

Amount†

Value

Percentage

of

Net

Assets

ASSET-BACKED

SECURITIES:

(continued)

Other

Asset-Backed

Securities:

(continued)

340,000 

(1)(3)

Neuberger

Berman

Loan

Advisers

CLO

35

Ltd.

2019-35A

A1,

6.998%,

(TSFR3M

+

1.602%),

01/19/2033

$

340,482

0.1

1,550,000 

(1)(3)

OCP

CLO

Ltd.

2020-

19A

AR,

6.827%,

(TSFR3M

+

1.412%),

10/20/2034

1,548,500

0.3

300,000 

(1)(3)

Octagon

61

Ltd.

2023-2A

A,

7.266%,

(TSFR3M

+

1.850%),

04/20/2036

301,724

0.0

250,000 

(1)(3)

Octagon

Investment

Partners

XV

Ltd.

2013-1A

A2R,

7.008%,

(TSFR3M

+

1.612%),

07/19/2030

246,042

0.0

1,105,746 

(1)(3)

Octagon

Loan

Funding

Ltd.

2014-1A

ARR,

6.809%,

(TSFR3M

+

1.442%),

11/18/2031

1,107,212

0.2

3,700,000 

(1)(3)

OHA

Credit

Partners

XIII

Ltd.

2016-13A

AR,

6.844%,

(TSFR3M

+

1.432%),

10/25/2034

3,704,540

0.7

3,000,000 

(1)(3)

OHA

Credit

Partners

XVI

2021-16A

A,

6.807%,

(TSFR3M

+

1.412%),

10/18/2034

3,005,109

0.5

500,000 

(1)(3)

OHA

Loan

Funding

Ltd.

2015-1A

AR3,

6.808%,

(TSFR3M

+

1.412%),

01/19/2037

500,613

0.1

333,728 

(1)(3)

Palmer

Square

CLO

Ltd.

2015-2A

A1R2,

6.777%,

(TSFR3M

+

1.362%),

07/20/2030

334,146

0.1

1,650,000 

(1)(3)

Palmer

Square

CLO

Ltd.

2019-1A

A1R,

6.789%,

(TSFR3M

+

1.412%),

11/14/2034

1,651,987

0.3

350,000 

(1)

PFS

Financing

Corp.

2021-B

A,

0.770%,

08/15/2026

339,178

0.1

600,000 

(1)

PFS

Financing

Corp.

2022-D

A,

4.270%,

08/15/2027

589,772

0.1

950,000 

(1)

PFS

Financing

Corp.

2023-C

A,

5.520%,

10/15/2028

961,813

0.2

750,000 

(1)(3)

Rad

CLO

6

Ltd.

2019-6A

A1,

7.057%,

(TSFR3M

+

1.642%),

01/20/2033

750,976

0.1

500,000 

(1)(3)

Rad

CLO

7

Ltd.

2020-7A

A1,

6.864%,

(TSFR3M

+

1.462%),

04/17/2033

500,363

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

12

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

ASSET-BACKED

SECURITIES:

(continued)

Other

Asset-Backed

Securities:

(continued)

410,000 

(1)(3)

Sound

Point

CLO

XXV

Ltd.

2019-4A

A1R,

6.658%,

(TSFR3M

+

1.280%),

04/25/2033

$

402,322

0.1

500,000 

(1)(3)

THL

Credit

Wind

River

CLO

Ltd.

2019-1A

AR,

6.837%,

(TSFR3M

+

1.422%),

07/20/2034

498,324

0.1

1,650,000 

(1)

Trafigura

Securitisation

Finance

PLC

2021-1A

A2,

1.080%,

01/15/2025

1,593,935

0.3

300,000 

(1)(3)

Wellman

Park

CLO

Ltd.

2021-1A

A,

6.755%,

(TSFR3M

+

1.362%),

07/15/2034

299,964

0.0

1,250,000 

(1)(3)

Wind

River

CLO

Ltd.

2022-1A

A,

6.946%,

(TSFR3M

+

1.530%),

07/20/2035

1,248,459

0.2

52,223,992

9.4

Student

Loan

Asset-Backed

Securities

:

1.5%

2,093,589 

(1)

Commonbond

Student

Loan

Trust-GS

2019-

AGS

A1,

2.540%,

01/25/2047

1,856,463

0.3

8,306 

(1)

Laurel

Road

Prime

Student

Loan

Trust

2018-B

A2FX,

3.540%,

05/26/2043

8,253

0.0

161,896 

(1)(3)

Navient

Private

Education

Loan

Trust

2014-AA

A3,

7.076%,

(TSFR1M

+

1.714%),

10/15/2031

162,230

0.0

164,950 

(1)

Navient

Private

Education

Refi

Loan

Trust

2019-FA

A2,

2.600%,

08/15/2068

153,694

0.0

51,769 

(1)

Navient

Private

Education

Refi

Loan

Trust

2020-GA

A,

1.170%,

09/16/2069

46,367

0.0

93,907 

(1)

Navient

Private

Education

Refi

Loan

Trust

2021-A

A,

0.840%,

05/15/2069

82,808

0.0

1,422,069 

(1)

Navient

Private

Education

Refi

Loan

Trust

2021-EA

A,

0.970%,

12/16/2069

1,226,849

0.2

339,258 

(1)

Navient

Private

Education

Refi

Loan

Trust

2021-FA

A,

1.110%,

02/18/2070

289,278

0.1

2,916,027 

(1)

Navient

Private

Education

Refi

Loan

Trust

2023-A

A,

5.510%,

10/15/2071

2,917,091

0.5

Principal

Amount†

Value

Percentage

of

Net

Assets

ASSET-BACKED

SECURITIES:

(continued)

Student

Loan

Asset-Backed

Securities:

(continued)

250,110 

(1)

Sofi

Professional

Loan

Program

LLC

2018-A

A2B,

2.950%,

02/25/2042

$

243,604

0.1

389,765 

(1)

SoFi

Professional

Loan

Program

Trust

2021-B

AFX,

1.140%,

02/15/2047

328,278

0.1

1,522,403 

(1)

SOFI

PROFESSIONAL

LOAN

PROGRAM

TRUST

2021-A

AFX,

1.030%,

08/17/2043

1,293,988

0.2

8,608,903

1.5

Total

Asset-Backed

Securities

(Cost

$85,856,981)

84,977,820

15.2

COLLATERALIZED

MORTGAGE

OBLIGATIONS

:

7.5%

1,000,000 

(1)(3)

Fannie

Mae

Connecticut

Avenue

Securities

2021-R01

1M2,

6.887%,

(SOFR30A

+

1.550%),

10/25/2041

999,964

0.2

69,645 

Fannie

Mae

Interest

Strip

404

8,

3.000%,

05/25/2040

64,307

0.0

9,617 

Fannie

Mae

REMIC

Trust

2010-54

LC,

3.000%,

04/25/2040

9,409

0.0

289,336 

Fannie

Mae

REMIC

Trust

2013-114

NA,

3.000%,

08/25/2032

281,469

0.1

583,334 

(3)

Fannie

Mae

REMIC

Trust

2013-34

PF,

5.802%,

(SOFR30A

+

0.464%),

08/25/2042

579,418

0.1

92,381 

Freddie

Mac

REMIC

Trust

2103

TE,

6.000%,

12/15/2028

93,750

0.0

830,765 

(3)

Freddie

Mac

REMIC

Trust

3049

XF,

5.803%,

(SOFR30A

+

0.464%),

05/15/2033

824,145

0.1

3,674,611 

(3)

Freddie

Mac

REMIC

Trust

3114

PF,

5.853%,

(SOFR30A

+

0.514%),

02/15/2036

3,637,596

0.7

5,536,450 

(3)

Freddie

Mac

REMIC

Trust

3136

FA,

6.003%,

(SOFR30A

+

0.664%),

04/15/2036

5,503,311

1.0

428,048 

(3)

Freddie

Mac

REMIC

Trust

3255

FA,

5.733%,

(SOFR30A

+

0.394%),

12/15/2036

420,823

0.1

23,729 

(3)

Freddie

Mac

REMIC

Trust

3747

FA,

5.953%,

(SOFR30A

+

0.614%),

10/15/2040

23,469

0.0

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

13

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

COLLATERALIZED

MORTGAGE

OBLIGATIONS:

(continued)

572,260 

(3)

Freddie

Mac

REMIC

Trust

4879

DF,

5.853%,

(SOFR30A

+

0.514%),

08/15/2034

$

565,980

0.1

182,657 

(1)(3)

Freddie

Mac

STACR

REMIC

Trust

2020-

HQA5

M2,

7.937%,

(SOFR30A

+

2.600%),

11/25/2050

186,050

0.0

1,239,948 

(1)(3)

Freddie

Mac

STACR

REMIC

Trust

2021-

HQA1

M2,

7.587%,

(SOFR30A

+

2.250%),

08/25/2033

1,238,187

0.2

1,500,000 

(1)(3)

Freddie

Mac

STACR

REMIC

Trust

2022-

DNA2

M1B,

7.737%,

(SOFR30A

+

2.400%),

02/25/2042

1,520,468

0.3

4,958,633 

(3)

Freddie

Mac

Strips

406

F43,

6.137%,

(SOFR30A

+

0.800%),

10/25/2053

4,955,895

0.9

4,180,866 

(3)

Freddie

Mac

Strips

406

F44,

6.337%,

(SOFR30A

+

1.000%),

10/25/2053

4,200,030

0.8

704,678 

(1)(3)

Freddie

Mac

Structured

Agency

Credit

Risk

Debt

Notes

2021-DNA2

M2,

7.637%,

(SOFR30A

+

2.300%),

08/25/2033

711,912

0.1

205,613 

(3)

Ginnie

Mae

2010-H03

FA,

6.012%,

(TSFR1M

+

0.664%),

03/20/2060

204,961

0.0

20,626 

(3)

Ginnie

Mae

2010-H10

FC,

6.462%,

(TSFR1M

+

1.114%),

05/20/2060

20,674

0.0

1,499,413 

(3)

Ginnie

Mae

2010-H11

FA,

6.462%,

(TSFR1M

+

1.114%),

06/20/2060

1,503,321

0.3

164,667 

(3)

Ginnie

Mae

2011-H03

FA,

5.937%,

(TSFR1M

+

0.614%),

01/20/2061

164,048

0.0

43,170 

(3)

Ginnie

Mae

2011-H05

FA,

5.937%,

(TSFR1M

+

0.614%),

12/20/2060

43,017

0.0

75,665 

(3)

Ginnie

Mae

2011-H05

FB,

5.937%,

(TSFR1M

+

0.614%),

12/20/2060

75,357

0.0

353,516 

(3)

Ginnie

Mae

2011-H06

FA,

5.887%,

(TSFR1M

+

0.564%),

02/20/2061

351,904

0.1

28,081 

(3)

Ginnie

Mae

2011-H07

FA,

5.937%,

(TSFR1M

+

0.614%),

02/20/2061

27,949

0.0

79,134 

(3)

Ginnie

Mae

2011-H08

FD,

5.937%,

(TSFR1M

+

0.614%),

02/20/2061

78,835

0.0

Principal

Amount†

Value

Percentage

of

Net

Assets

COLLATERALIZED

MORTGAGE

OBLIGATIONS:

(continued)

323,676 

(3)

Ginnie

Mae

2011-H08

FG,

5.917%,

(TSFR1M

+

0.594%),

03/20/2061

$

322,534

0.1

339,147 

(3)

Ginnie

Mae

2011-H09

AF,

5.937%,

(TSFR1M

+

0.614%),

03/20/2061

337,862

0.1

87,783 

(3)

Ginnie

Mae

2012-H18

NA,

5.957%,

(TSFR1M

+

0.634%),

08/20/2062

87,350

0.0

526,515 

(3)

Ginnie

Mae

2012-H23

WA,

5.957%,

(TSFR1M

+

0.634%),

10/20/2062

524,473

0.1

281,745 

Ginnie

Mae

2014-3

EP,

2.750%,

02/16/2043

262,804

0.0

161,433 

(3)

Ginnie

Mae

2014-53

JM,

6.988%,

04/20/2039

168,241

0.0

3,348,585 

(3)

Ginnie

Mae

2015-H32

FH,

6.097%,

(TSFR1M

+

0.774%),

12/20/2065

3,341,477

0.6

3,073,241 

(3)

Ginnie

Mae

2016-H16

FE,

6.105%,

(TSFR12M

+

1.095%),

06/20/2066

3,069,449

0.5

1,045,370 

(3)

Ginnie

Mae

2017-H06

FE,

5.987%,

(TSFR1M

+

0.664%),

02/20/2067

1,041,345

0.2

721,885 

(3)

Ginnie

Mae

2017-H07

FG,

5.897%,

(TSFR1M

+

0.574%),

02/20/2067

718,439

0.1

1,976,715 

Ginnie

Mae

2023-

86

DA,

5.500%,

08/20/2050

2,013,174

0.4

993,816 

(1)(3)

JP

Morgan

Mortgage

Trust

2021-INV6

A5A,

2.500%,

04/25/2052

797,536

0.1

1,155,853 

Seasoned

Credit

Risk

Transfer

Trust

Series

2018-2

MA,

3.500%,

11/25/2057

1,098,209

0.2

Total

Collateralized

Mortgage

Obligations

(Cost

$41,903,471)

42,069,142

7.5

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

:

7.4%

1,500,000 

(1)(3)

AREIT

LLC

2023-CRE8

A,

7.470%,

(TSFR1M

+

2.112%),

02/17/2028

1,501,715

0.3

604,500 

(1)(3)

AREIT

Trust

2019-

CRE3

C,

7.376%,

(TSFR1M

+

2.014%),

09/14/2036

553,991

0.1

4,000,000 

(1)(3)

BBCMS

Mortgage

Trust

2021-AGW

E,

8.626%,

(TSFR1M

+

3.264%),

06/15/2036

3,035,812

0.5

2,917,000 

(1)(3)

BHMS

2018-ATLS

C,

7.559%,

(TSFR1M

+

2.197%),

07/15/2035

2,848,185

0.5

291,180 

(1)(3)

BX

2021-MFM1

B,

6.426%,

(TSFR1M

+

1.064%),

01/15/2034

286,501

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

14

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

COMMERCIAL

MORTGAGE-BACKED

SECURITIES:

(continued)

1,550,000 

(1)(3)

BX

Trust

2021-ARIA

C,

7.122%,

(TSFR1M

+

1.760%),

10/15/2036

$

1,500,318

0.3

1,000,000 

(1)(3)

BX

Trust

2021-LGCY

A,

5.982%,

(TSFR1M

+

0.620%),

10/15/2036

972,076

0.2

1,302,079 

(1)(3)

BX

Trust

2022-PSB

A,

7.813%,

(TSFR1M

+

2.451%),

08/15/2039

1,307,149

0.2

1,300,000 

COMM

Mortgage

Trust

2015-CR26

A4,

3.630%,

10/10/2048

1,252,444

0.2

800,000 

(1)(3)

CSWF

2021-SOP2

D,

7.793%,

(TSFR1M

+

2.431%),

06/15/2034

584,950

0.1

2,013,173 

DBJPM

Mortgage

Trust

2017-C6

A3,

3.269%,

06/10/2050

1,963,696

0.4

4,000,000 

(1)

DC

Commercial

Mortgage

Trust

2023-DC

A,

6.314%,

09/12/2040

4,132,889

0.7

1,068,789 

(1)(3)

Extended

Stay

America

Trust

2021-ESH

A,

6.556%,

(TSFR1M

+

1.194%),

07/15/2038

1,059,721

0.2

710,000 

(1)(4)

GAM

Re-REMIC

Trust

2021-FRR1

2B,

0.000%,

11/29/2050

513,363

0.1

3,755 

Ginnie

Mae

2015-

183

AC,

2.350%,

07/16/2056

3,715

0.0

83 

Ginnie

Mae

2016-

110

AB,

2.000%,

05/16/2049

83

0.0

53,163 

Ginnie

Mae

2017-

100

AB,

2.300%,

04/16/2052

50,499

0.0

10,293 

Ginnie

Mae

2017-51

AB,

2.350%,

04/16/2057

10,072

0.0

520 

Ginnie

Mae

2017-69

AB,

2.350%,

05/16/2053

518

0.0

3,667 

Ginnie

Mae

2017-70

A,

2.500%,

10/16/2057

3,622

0.0

30,193 

Ginnie

Mae

2017-86

AB,

2.300%,

11/16/2051

29,362

0.0

23,693 

Ginnie

Mae

2017-89

A,

2.500%,

08/16/2057

23,245

0.0

6,913 

Ginnie

Mae

2018-41

A,

2.400%,

09/16/2058

6,776

0.0

1,039,000 

(1)(3)

GS

Mortgage

Securities

Corp.

Trust

2017-SLP

E,

4.591%,

10/10/2032

950,766

0.2

1,070,000 

(1)(3)

GS

Mortgage

Securities

Corp.

Trust

2019-70P

C,

7.226%,

(TSFR1M

+

1.864%),

10/15/2036

997,445

0.2

190,000 

(1)

GSCG

Trust

2019-

600C

A,

2.936%,

09/06/2034

136,247

0.0

Principal

Amount†

Value

Percentage

of

Net

Assets

COMMERCIAL

MORTGAGE-BACKED

SECURITIES:

(continued)

330,000 

(1)

Houston

Galleria

Mall

Trust

2015-

HGLR

A1A2,

3.087%,

03/05/2037

$

315,937

0.1

2,000,000 

(1)(3)

ILPT

Commercial

Mortgage

Trust

2022-

LPF2

A,

7.607%,

(TSFR1M

+

2.245%),

10/15/2039

1,996,682

0.4

117,994 

(3)

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2013-C10

C,

4.073%,

12/15/2047

106,827

0.0

360,000 

(1)

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2018-

WPT

CFX,

4.950%,

07/05/2033

280,454

0.0

100,000 

(1)(3)

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2020-

LOOP

E,

3.861%,

12/05/2038

61,665

0.0

1,008,379 

(1)(3)

JPMBB

Commercial

Mortgage

Securities

Trust

2013-C15

D,

4.689%,

11/15/2045

845,923

0.2

820,000 

(3)

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C19

C,

4.671%,

04/15/2047

776,501

0.1

2,000,000 

(1)(3)

Life

Mortgage

Trust

2022-BMR2

A1,

6.657%,

(TSFR1M

+

1.295%),

05/15/2039

1,958,015

0.3

1,000,000 

(1)(3)

LSTAR

Commercial

Mortgage

Trust

2016-4

F,

4.606%,

03/10/2049

505,049

0.1

2,239,253 

(1)(3)

Med

Trust

2021-MDLN

A,

6.426%,

(TSFR1M

+

1.064%),

11/15/2038

2,198,285

0.4

169,763 

Morgan

Stanley

Capital

I

Trust

2017-H1

A2,

3.089%,

06/15/2050

167,235

0.0

1,200,000 

(1)(3)

PFP

Ltd.

2023-10

A,

7.723%,

(TSFR1M

+

2.365%),

09/16/2038

1,202,756

0.2

2,000,000 

(1)(3)

SMRT

2022-MINI

F,

8.712%,

(TSFR1M

+

3.350%),

01/15/2039

1,845,247

0.3

1,900,000 

(1)

THPT

Mortgage

Trust

2023-THL

A,

6.994%,

12/10/2034

1,934,166

0.3

1,085,000 

Wells

Fargo

Commercial

Mortgage

Trust

2016-LC25

A4,

3.640%,

12/15/2059

1,035,765

0.2

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

15

Voya

Short

Term

Bond

Fund

Principal

Amount†

Value

Percentage

of

Net

Assets

COMMERCIAL

MORTGAGE-BACKED

SECURITIES:

(continued)

2,500,000 

(1)

WSTN

Trust

2023-

MAUI

A,

6.297%,

07/05/2037

$

2,549,864

0.5

Total

Commercial

Mortgage-Backed

Securities

(Cost

$43,471,282)

41,505,531

7.4

U.S.

GOVERNMENT

AGENCY

OBLIGATIONS

:

0.0%

Federal

Home

Loan

Mortgage

Corporation

:

0.0%

(5)

11,077 

5.500

%,

01/01/2037

11,428

0.0

17,386 

5.500

%,

08/01/2038

17,892

0.0

5,252 

5.500

%,

10/01/2038

5,405

0.0

109,175 

5.500

%,

11/01/2038

112,632

0.0

93,871 

5.500

%,

02/01/2039

96,479

0.0

243,836

0.0

Uniform

Mortgage-Backed

Securities

:

0.0%

1,271 

5.000

%,

03/01/2027

1,279

0.0

80,385 

5.000

%,

05/01/2042

81,716

0.0

82,995

0.0

Total

U.S.

Government

Agency

Obligations

(Cost

$338,069)

326,831

0.0

Total

Long-Term

Investments

(Cost

$579,672,467)

576,572,153

103.1

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

7.6%

Commercial

Paper

:

4.1%

11,000,000 

CVS

Caremark,

10.950

%,

01/02/2024

10,993,405

2.0

11,000,000 

Dominion

Energy,

Inc.,

10.970

%,

01/02/2024

10,993,393

2.0

500,000 

Duke

Energy

Co.,

9.180

%,

01/03/2024

499,623

0.1

Total

Commercial

Paper

(Cost

$22,496,537)

22,486,421

4.1

Repurchase

Agreements

:

0.9%

1,242,646 

(6)

BNP

Paribas

S.A.,

Repurchase

Agreement

dated

12/29/2023,

5.350%,

due

01/02/2024

(Repurchase

Amount

$1,243,375,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.000%-

6.500%,

Market

Value

plus

accrued

interest

$1,267,499,

due

08/15/27-10/20/53)

1,242,646

0.2

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

228,772 

(6)

Daiwa

Capital

Markets,

Repurchase

Agreement

dated

12/29/2023,

5.350%,

due

01/02/2024

(Repurchase

Amount

$228,906,

collateralized

by

various

U.S.

Government

Securities,

0.000%-5.375%,

Market

Value

plus

accrued

interest

$233,348,

due

01/25/24-11/15/51)

$

228,772

0.1

1,242,646 

(6)

HSBC

Securities

USA,

Repurchase

Agreement

dated

12/29/2023,

5.340%,

due

01/02/2024

(Repurchase

Amount

$1,243,373,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

2.000%-

7.000%,

Market

Value

plus

accrued

interest

$1,267,499,

due

12/01/29-12/01/53)

1,242,646

0.2

1,242,646 

(6)

Nomura

Securities,

Repurchase

Agreement

dated

12/29/2023,

5.340%,

due

01/02/2024

(Repurchase

Amount

$1,243,373,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

1.000%-

6.000%,

Market

Value

plus

accrued

interest

$1,267,761,

due

03/08/27-01/01/59)

1,242,646

0.2

1,242,646 

(6)

TD

Securities

(USA)

LLC,

Repurchase

Agreement

dated

12/29/2023,

5.350%,

due

01/02/2024

(Repurchase

Amount

$1,243,375,

collateralized

by

various

U.S.

Government

Agency

Obligations,

2.500%-7.000%,

Market

Value

plus

accrued

interest

$1,267,499,

due

07/01/37-01/01/54)

1,242,646

0.2

Total

Repurchase

Agreements

(Cost

$5,199,356)

5,199,356

0.9

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

16

Voya

Short

Term

Bond

Fund

Shares

RA

Value

Percentage

of

Net

Assets

Mutual

Funds

:

2.6%

14,632,000 

(7)

Morgan

Stanley

Institutional

Liquidity

Funds

-

Government

Portfolio

(Institutional

Share

Class),

5.270%

(Cost

$14,632,000)

$

14,632,000

2.6

Total

Short-Term

Investments

(Cost

$42,327,893)

$

42,317,777

7.6

Total

Investments

in

Securities

(Cost

$622,000,360)

$

618,889,930

110.7

Liabilities

in

Excess

of

Other

Assets

(59,943,251)

(10.7)

Net

Assets

$

558,946,679

100.0

†

Unless

otherwise

indicated,

principal

amount

is

shown

in

USD.

(1)

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.

(2)

Security,

or

a

portion

of

the

security,

is

on

loan.

(3)

Variable

rate

security.

Rate

shown

is

the

rate

in

effect

as

of

December

31,

2023.

(4)

Principal

only

securities

represent

the

right

to

receive

the

monthly

principal

payments

on

an

underlying

pool

of

mortgage

loans.

No

payments

of

interest

on

the

pool

are

passed

through

the

principal

only

security.

(5)

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.

(6)

All

or

a

portion

of

the

security

represents

securities

purchased

with

cash

collateral

received

for

securities

on

loan.

(7)

Rate

shown

is

the

7-day

yield

as

of

December

31,

2023.

Reference

Rate

Abbreviations:

SOFR30A

30-day

Secured

Overnight

Financing

Rate

SOFRRATE

1-day

Secured

Overnight

Financing

Rate

TSFR1M

1-month

CME

Term

Secured

Overnight

Financing

Rate

TSFR3M

3-month

CME

Term

Secured

Overnight

Financing

Rate

PORTFOLIO

OF

INVESTMENTS

as

of

December

31,

2023

(Unaudited)

(continued)

17

Voya

Short

Term

Bond

Fund

Fair

Value

Measurements

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

as

of

December

31,

2023

in

valuing

the

assets

and

liabilities:

Quoted

Prices

in

Active

Markets

for

Identical

Investments

(Level

1)

Significant

Other

Observable

Inputs

(Level

2)

Significant

Unobservable

Inputs

(Level

3)

Fair

Value

at

December

31,

2023

Asset

Table

Investments,

at

fair

value

Corporate

Bonds/Notes

$

—

$

233,528,796

$

—

$

233,528,796

U.S.

Treasury

Obligations

—

174,164,033

—

174,164,033

Asset-Backed

Securities

—

84,977,820

—

84,977,820

Collateralized

Mortgage

Obligations

—

42,069,142

—

42,069,142

Commercial

Mortgage-Backed

Securities

—

41,505,531

—

41,505,531

U.S.

Government

Agency

Obligations

—

326,831

—

326,831

Short-Term

Investments

14,632,000

27,685,777

—

42,317,777

Total

Investments,

at

fair

value

$

14,632,000

$

604,257,930

$

—

$

618,889,930

Other

Financial

Instruments+

Futures

1,978,232

—

—

1,978,232

Total

Assets

$

16,610,232

$

604,257,930

$

—

$

620,868,162

Liabilities

Table

Other

Financial

Instruments+

Futures

$

(923,660)

$

—

$

—

$

(923,660)

Total

Liabilities

$

(923,660)

$

—

$

—

$

(923,660)

+

Other

Financial

Instruments

may

include

open

forward

foreign

currency

contracts,

futures,

centrally

cleared

swaps,

OTC

swaps

and

written

options.

Forward

foreign

currency

contracts,

futures

and

centrally

cleared

swaps

are

fair

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

OTC

swaps

and

written

options

are

valued

at

the

fair

value

of

the

instrument.

At

December

31,

2023,

the

following

futures

contracts

were

outstanding

for

Voya

Short

Term

Bond

Fund:

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Long

Contracts:

U.S.

Treasury

2-Year

Note

907

03/28/24

$

186,764,055

$

1,978,232

$

186,764,055

$

1,978,232

Short

Contracts:

U.S.

Treasury

5-Year

Note

(410)

03/28/24

(44,597,109)

(652,016)

U.S.

Treasury

10-Year

Note

(21)

03/19/24

(2,370,703)

(86,340)

U.S.

Treasury

Long

Bond

(11)

03/19/24

(1,374,313)

(110,426)

U.S.

Treasury

Ultra

10-Year

Note

(13)

03/19/24

(1,534,203)

(74,878)

$

(49,876,328)

$

(923,660)

Net

unrealized

depreciation

consisted

of:

Gross

Unrealized

Appreciation

$

3,658,636

Gross

Unrealized

Depreciation

(6,769,066)

Net

Unrealized

Depreciation

$

(3,110,430)