PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

1

Voya

High

Yield

Portfolio

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES

:

94.5%

Basic

Materials

:

6.2%

955,000 

(1)

Arsenal

AIC

Parent

LLC,

8.000%,

10/01/2030

$

951,438

0.2

650,000 

(1)

ASP

Unifrax

Holdings,

Inc.,

7.500%,

09/30/2029

354,237

0.1

1,350,000 

ATI,

Inc.,

7.250%,

08/15/2030

1,341,522

0.3

1,150,000 

(1)

Cleveland-Cliffs,

Inc.,

4.625%,

03/01/2029

1,003,035

0.3

475,000 

(1)

Cleveland-Cliffs,

Inc.,

4.875%,

03/01/2031

405,136

0.1

1,175,000 

(1)(2)

Coeur

Mining,

Inc.,

5.125%,

02/15/2029

1,009,539

0.3

1,225,000 

(1)

Consolidated

Energy

Finance

SA,

5.625%,

10/15/2028

1,013,369

0.3

1,650,000 

(1)

Constellium

SE,

5.625%,

06/15/2028

1,554,542

0.4

1,100,000 

(1)

First

Quantum

Minerals

Ltd.,

6.875%,

10/15/2027

1,056,154

0.3

1,950,000 

(1)(2)

Hudbay

Minerals,

Inc.,

4.500%,

04/01/2026

1,827,084

0.5

1,250,000 

(1)

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV,

Inc.,

9.000%,

07/01/2028

1,182,092

0.3

1,300,000 

(1)(2)

INEOS

Quattro

Finance

2

PLC,

3.375%,

01/15/2026

1,185,575

0.3

1,600,000 

(1)(3)

Iris

Holdings,

Inc.,

8.750%

(PIK

Rate

9.500%,

Cash

Rate

8.750%),

02/15/2026

1,444,656

0.4

1,700,000 

(1)

Mativ

Holdings,

Inc.,

6.875%,

10/01/2026

1,553,307

0.4

200,000 

(1)

Novelis

Corp.,

3.250%,

11/15/2026

178,867

0.0

1,150,000 

(1)

Novelis

Corp.,

3.875%,

08/15/2031

919,902

0.2

400,000 

(1)

Novelis

Corp.,

4.750%,

01/30/2030

346,716

0.1

1,325,000 

(1)(2)

Nufarm

Australia

Ltd.

/

Nufarm

Americas,

Inc.,

5.000%,

01/27/2030

1,170,777

0.3

800,000 

Olin

Corp.,

5.000%,

02/01/2030

711,443

0.2

825,000 

Olin

Corp.,

5.125%,

09/15/2027

772,159

0.2

285,000 

(1)

Olympus

Water

US

Holding

Corp.,

7.125%,

10/01/2027

263,951

0.1

1,346,000 

(1)

SPCM

SA,

3.125%,

03/15/2027

1,192,707

0.3

1,475,000 

(1)

Taseko

Mines

Ltd.,

7.000%,

02/15/2026

1,379,950

0.4

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Basic

Materials:

(continued)

1,500,000 

(1)

Trinseo

Materials

Operating

SCA

/

Trinseo

Materials

Finance,

Inc.,

5.125%,

04/01/2029

$

784,394

0.2

23,602,552

6.2

Communications

:

14.5%

1,200,000 

(1)

Acuris

Finance

US,

Inc.

/

Acuris

Finance

Sarl,

5.000%,

05/01/2028

988,548

0.3

1,400,000 

(1)

Altice

France

Holding

SA,

6.000%,

02/15/2028

694,317

0.2

2,175,000 

(1)

Altice

France

SA/

France,

5.500%,

10/15/2029

1,567,273

0.4

700,000 

(1)

Altice

France

SA/

France,

8.125%,

02/01/2027

621,650

0.2

1,800,000 

AMC

Networks,

Inc.,

4.250%,

02/15/2029

1,107,001

0.3

1,325,000 

(1)

Beasley

Mezzanine

Holdings

LLC,

8.625%,

02/01/2026

851,872

0.2

950,000 

(1)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.,

4.250%,

01/15/2034

700,462

0.2

2,750,000 

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.,

4.500%,

05/01/2032

2,161,150

0.6

1,575,000 

(1)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.,

5.000%,

02/01/2028

1,432,042

0.4

1,525,000 

(1)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.,

5.125%,

05/01/2027

1,422,461

0.4

525,000 

(1)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.,

5.500%,

05/01/2026

507,665

0.1

325,000 

(1)

CommScope

Technologies

LLC,

5.000%,

03/15/2027

184,972

0.0

525,000 

(1)

CommScope

Technologies

LLC,

6.000%,

06/15/2025

500,461

0.1

675,000 

(1)

CommScope,

Inc.,

4.750%,

09/01/2029

497,380

0.1

1,050,000 

(1)

CommScope,

Inc.,

7.125%,

07/01/2028

630,000

0.2

675,000 

(1)

Connect

Finco

Sarl

/

Connect

US

Finco

LLC,

6.750%,

10/01/2026

630,415

0.2

575,000 

CSC

Holdings

LLC,

5.250%,

06/01/2024

547,882

0.1

2,900,000 

(1)

CSC

Holdings

LLC,

5.750%,

01/15/2030

1,629,121

0.4

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

2

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Communications:

(continued)

450,000 

(1)

CSC

Holdings

LLC,

7.500%,

04/01/2028

$

292,939

0.1

1,400,000 

(1)(2)

CSC

Holdings

LLC,

11.250%,

05/15/2028

1,396,517

0.4

1,925,000 

(1)

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor,

Inc.,

5.875%,

08/15/2027

1,704,491

0.4

1,525,000 

DISH

DBS

Corp.,

5.125%,

06/01/2029

847,709

0.2

775,000 

(1)

DISH

DBS

Corp.,

5.750%,

12/01/2028

597,234

0.1

1,060,000 

DISH

DBS

Corp.,

7.375%,

07/01/2028

669,670

0.2

1,825,000 

(1)

DISH

Network

Corp.,

11.750%,

11/15/2027

1,841,317

0.5

950,000 

Embarq

Corp.,

7.995%,

06/01/2036

536,660

0.1

1,225,000 

(1)

GCI

LLC,

4.750%,

10/15/2028

1,057,922

0.3

2,000,000 

(1)

Gray

Escrow

II,

Inc.,

5.375%,

11/15/2031

1,311,454

0.3

500,000 

(1)

iHeartCommunications,

Inc.,

5.250%,

08/15/2027

397,023

0.1

1,000,000 

(1)

ION

Trading

Technologies

Sarl,

5.750%,

05/15/2028

873,210

0.2

900,000 

(1)

LCPR

Senior

Secured

Financing

DAC,

5.125%,

07/15/2029

725,067

0.2

1,150,000 

(1)

LCPR

Senior

Secured

Financing

DAC,

6.750%,

10/15/2027

1,057,724

0.3

1,925,000 

(1)

Level

3

Financing,

Inc.,

3.750%,

07/15/2029

1,078,687

0.3

1,100,000 

(1)

Level

3

Financing,

Inc.,

10.500%,

05/15/2030

1,108,231

0.3

1,925,000 

(1)

Match

Group

Holdings

II

LLC,

4.625%,

06/01/2028

1,728,130

0.4

1,150,000 

(1)

McGraw-Hill

Education,

Inc.,

8.000%,

08/01/2029

998,821

0.3

1,225,000 

(1)

Millennium

Escrow

Corp.,

6.625%,

08/01/2026

978,512

0.2

1,100,000 

Northwestern

Bell

Telephone,

7.750%,

05/01/2030

598,065

0.2

950,000 

(4)

Paramount

Global,

6.250%,

02/28/2057

716,775

0.2

1,425,000 

(1)

Radiate

Holdco

LLC

/

Radiate

Finance,

Inc.,

6.500%,

09/15/2028

750,277

0.2

525,000 

(1)

Sirius

XM

Radio,

Inc.,

3.125%,

09/01/2026

468,452

0.1

3,125,000 

(1)

Sirius

XM

Radio,

Inc.,

5.000%,

08/01/2027

2,857,516

0.7

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Communications:

(continued)

1,175,000 

(1)

Spanish

Broadcasting

System,

Inc.,

9.750%,

03/01/2026

$

790,566

0.2

1,375,000 

(1)

Stagwell

Global

LLC,

5.625%,

08/15/2029

1,111,990

0.3

650,000 

Telecom

Italia

Capital

SA,

6.000%,

09/30/2034

542,588

0.1

725,000 

Telecom

Italia

Capital

SA,

6.375%,

11/15/2033

629,335

0.2

750,000 

(1)

Uber

Technologies,

Inc.,

4.500%,

08/15/2029

671,799

0.2

1,100,000 

(1)

Uber

Technologies,

Inc.,

8.000%,

11/01/2026

1,114,047

0.3

500,000 

(1)

Univision

Communications,

Inc.,

4.500%,

05/01/2029

407,654

0.1

1,875,000 

(1)

Univision

Communications,

Inc.,

6.625%,

06/01/2027

1,748,234

0.5

1,100,000 

(1)

Urban

One,

Inc.,

7.375%,

02/01/2028

945,104

0.2

250,000 

(1)

Viasat,

Inc.,

5.625%,

04/15/2027

216,875

0.1

500,000 

(1)

Viasat,

Inc.,

6.500%,

07/15/2028

346,940

0.1

325,000 

(1)

Viasat,

Inc.,

7.500%,

05/30/2031

215,069

0.1

1,350,000 

(1)

Viavi

Solutions,

Inc.,

3.750%,

10/01/2029

1,098,833

0.3

2,300,000 

(1)

Virgin

Media

Vendor

Financing

Notes

IV

DAC,

5.000%,

07/15/2028

1,987,384

0.5

1,500,000 

(1)

Vmed

O2

UK

Financing

I

PLC,

4.750%,

07/15/2031

1,213,602

0.3

1,775,000 

(1)(2)

Zayo

Group

Holdings,

Inc.,

4.000%,

03/01/2027

1,319,358

0.3

55,626,453

14.5

Consumer,

Cyclical

:

21.4%

600,000 

(1)

1011778

BC

ULC

/

New

Red

Finance,

Inc.,

3.500%,

02/15/2029

514,139

0.1

1,525,000 

(1)

1011778

BC

ULC

/

New

Red

Finance,

Inc.,

4.000%,

10/15/2030

1,269,019

0.3

1,375,000 

(1)

Adient

Global

Holdings

Ltd.,

4.875%,

08/15/2026

1,298,406

0.3

750,000 

(1)

Adient

Global

Holdings

Ltd.,

8.250%,

04/15/2031

751,836

0.2

1,475,000 

(1)

Affinity

Interactive,

6.875%,

12/15/2027

1,252,149

0.3

400,000 

(1)

Allison

Transmission,

Inc.,

3.750%,

01/30/2031

323,762

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

3

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Cyclical:

(continued)

1,125,000 

(1)

Allison

Transmission,

Inc.,

5.875%,

06/01/2029

$

1,061,944

0.3

1,425,000 

(1)(2)

American

Airlines,

Inc.,

7.250%,

02/15/2028

1,363,863

0.4

412,500 

(1)

American

Airlines,

Inc./

AAdvantage

Loyalty

IP

Ltd.,

5.500%,

04/20/2026

403,240

0.1

1,350,000 

(1)

Arko

Corp.,

5.125%,

11/15/2029

1,090,408

0.3

925,000 

Asbury

Automotive

Group,

Inc.,

4.500%,

03/01/2028

829,155

0.2

775,000 

Asbury

Automotive

Group,

Inc.,

4.750%,

03/01/2030

663,797

0.2

1,200,000 

(1)

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co.,

4.625%,

08/01/2029

1,013,969

0.3

1,150,000 

(1)

Banijay

Entertainment

SASU,

8.125%,

05/01/2029

1,142,209

0.3

1,500,000 

Bath

&

Body

Works,

Inc.,

6.750%,

07/01/2036

1,315,963

0.3

250,000 

(1)

Bath

&

Body

Works,

Inc.,

9.375%,

07/01/2025

260,261

0.1

300,000 

(1)(3)

BCPE

Ulysses

Intermediate,

Inc.,

7.750%

(PIK

Rate

8.500%,

Cash

Rate

7.750%),

04/01/2027

261,716

0.1

825,000 

(1)

Brinker

International,

Inc.,

5.000%,

10/01/2024

805,407

0.2

375,000 

(1)

Brinker

International,

Inc.,

8.250%,

07/15/2030

361,299

0.1

1,575,000 

(1)

Caesars

Entertainment,

Inc.,

4.625%,

10/15/2029

1,335,970

0.3

1,200,000 

(1)

Caesars

Entertainment,

Inc.,

6.250%,

07/01/2025

1,184,631

0.3

1,050,000 

(1)

Caesars

Entertainment,

Inc.,

7.000%,

02/15/2030

1,022,828

0.3

875,000 

(1)

Carnival

Corp.,

4.000%,

08/01/2028

759,409

0.2

1,825,000 

(1)(2)

Carnival

Corp.,

6.000%,

05/01/2029

1,558,829

0.4

1,125,000 

(1)

Carrols

Restaurant

Group,

Inc.,

5.875%,

07/01/2029

945,297

0.2

1,325,000 

(1)

CCM

Merger,

Inc.,

6.375%,

05/01/2026

1,268,588

0.3

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Cyclical:

(continued)

625,000 

(2)

Delta

Air

Lines,

Inc.,

4.375%,

04/19/2028

$

575,119

0.1

375,000 

Delta

Air

Lines,

Inc.,

7.375%,

01/15/2026

379,935

0.1

970,000 

(1)

Dream

Finders

Homes,

Inc.,

8.250%,

08/15/2028

977,527

0.3

1,150,000 

(1)(2)

Foot

Locker,

Inc.,

4.000%,

10/01/2029

830,651

0.2

1,725,000 

(2)

Ford

Motor

Co.,

6.100%,

08/19/2032

1,626,576

0.4

2,300,000 

Ford

Motor

Credit

Co.

LLC,

2.700%,

08/10/2026

2,054,753

0.5

2,650,000 

Ford

Motor

Credit

Co.

LLC,

4.125%,

08/17/2027

2,415,809

0.6

1,100,000 

Ford

Motor

Credit

Co.

LLC,

4.542%,

08/01/2026

1,033,552

0.3

1,350,000 

Ford

Motor

Credit

Co.

LLC,

5.113%,

05/03/2029

1,237,146

0.3

400,000 

(1)

Gap,

Inc.,

3.625%,

10/01/2029

296,493

0.1

1,250,000 

(1)

Gap,

Inc.,

3.875%,

10/01/2031

879,736

0.2

800,000 

(1)

Golden

Entertainment,

Inc.,

7.625%,

04/15/2026

799,000

0.2

800,000 

(1)

Hilton

Domestic

Operating

Co.,

Inc.,

4.000%,

05/01/2031

673,293

0.2

1,300,000 

(1)

Installed

Building

Products,

Inc.,

5.750%,

02/01/2028

1,198,259

0.3

1,575,000 

(1)

Interface,

Inc.,

5.500%,

12/01/2028

1,340,446

0.3

400,000 

(1)

International

Game

Technology

PLC,

4.125%,

04/15/2026

376,644

0.1

1,750,000 

(1)

International

Game

Technology

PLC,

5.250%,

01/15/2029

1,614,455

0.4

1,325,000 

(1)

LBM

Acquisition

LLC,

6.250%,

01/15/2029

1,087,832

0.3

1,225,000 

(1)

LCM

Investments

Holdings

II

LLC,

4.875%,

05/01/2029

1,042,991

0.3

1,500,000 

(1)

Lions

Gate

Capital

Holdings

LLC,

5.500%,

04/15/2029

991,181

0.3

425,000 

M/I

Homes,

Inc.,

3.950%,

02/15/2030

347,092

0.1

1,025,000 

M/I

Homes,

Inc.,

4.950%,

02/01/2028

925,032

0.2

575,000 

Macy's

Retail

Holdings

LLC,

4.500%,

12/15/2034

389,653

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

4

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Cyclical:

(continued)

325,000 

(1)

Macy's

Retail

Holdings

LLC,

5.875%,

03/15/2030

$

275,883

0.1

750,000 

(1)

Macy's

Retail

Holdings

LLC,

6.125%,

03/15/2032

619,785

0.2

800,000 

(1)(2)

Melco

Resorts

Finance

Ltd.,

5.250%,

04/26/2026

739,000

0.2

1,500,000 

(1)

Melco

Resorts

Finance

Ltd.,

5.375%,

12/04/2029

1,239,233

0.3

650,000 

MGM

Resorts

International,

4.625%,

09/01/2026

607,719

0.2

675,000 

MGM

Resorts

International,

4.750%,

10/15/2028

595,459

0.2

1,075,000 

Murphy

Oil

USA,

Inc.,

4.750%,

09/15/2029

970,510

0.2

275,000 

Murphy

Oil

USA,

Inc.,

5.625%,

05/01/2027

265,678

0.1

1,075,000 

(1)(2)

NCL

Corp.

Ltd.,

7.750%,

02/15/2029

998,936

0.3

275,000 

(1)

NCL

Corp.

Ltd.,

8.375%,

02/01/2028

279,198

0.1

800,000 

(1)(2)

NCL

Finance

Ltd.,

6.125%,

03/15/2028

706,932

0.2

865,000 

(1)

Ritchie

Bros

Holdings,

Inc.,

7.750%,

03/15/2031

879,056

0.2

3,075,000 

(1)

Royal

Caribbean

Cruises

Ltd.,

5.375%,

07/15/2027

2,848,793

0.7

243,000 

(1)

Royal

Caribbean

Cruises

Ltd.,

11.500%,

06/01/2025

256,724

0.1

825,000 

(1)

Royal

Caribbean

Cruises

Ltd.,

11.625%,

08/15/2027

895,556

0.2

1,300,000 

Sally

Holdings

LLC

/

Sally

Capital,

Inc.,

5.625%,

12/01/2025

1,268,239

0.3

1,450,000 

Sands

China

Ltd.,

5.375%,

08/08/2025

1,406,311

0.4

1,125,000 

(1)

Scientific

Games

Holdings

L.P./Scientific

Games

US

FinCo,

Inc.,

6.625%,

03/01/2030

971,786

0.3

1,350,000 

(1)

Scientific

Games

International,

Inc.,

7.000%,

05/15/2028

1,328,306

0.3

1,300,000 

Shea

Homes

L.P.

/

Shea

Homes

Funding

Corp.,

4.750%,

04/01/2029

1,128,940

0.3

1,085,000 

(1)(2)

Sonic

Automotive,

Inc.,

4.625%,

11/15/2029

900,880

0.2

375,000 

(1)

SRS

Distribution,

Inc.,

6.000%,

12/01/2029

315,418

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Cyclical:

(continued)

1,025,000 

(1)

SRS

Distribution,

Inc.,

6.125%,

07/01/2029

$

873,945

0.2

1,635,000 

(1)

Station

Casinos

LLC,

4.500%,

02/15/2028

1,428,034

0.4

1,375,000 

(1)

STL

Holding

Co.

LLC,

7.500%,

02/15/2026

1,274,824

0.3

1,225,000 

(1)

Taylor

Morrison

Communities,

Inc.,

5.125%,

08/01/2030

1,071,734

0.3

1,125,000 

(1)

Tempur

Sealy

International,

Inc.,

3.875%,

10/15/2031

869,267

0.2

275,000 

(1)

Tempur

Sealy

International,

Inc.,

4.000%,

04/15/2029

229,801

0.1

1,100,000 

(2)

United

Airlines

Holdings,

Inc.,

4.875%,

01/15/2025

1,065,873

0.3

525,000 

(1)

United

Airlines,

Inc.,

4.375%,

04/15/2026

486,037

0.1

1,550,000 

(1)

Viking

Cruises

Ltd.,

5.875%,

09/15/2027

1,416,282

0.4

1,300,000 

(1)

VistaJet

Malta

Finance

PLC

/

Vista

Management

Holding,

Inc.,

6.375%,

02/01/2030

1,006,232

0.3

1,150,000 

(1)

White

Cap

Buyer

LLC,

6.875%,

10/15/2028

1,017,791

0.3

1,150,000 

(1)

William

Carter

Co.,

5.625%,

03/15/2027

1,107,243

0.3

1,800,000 

(1)

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.,

5.250%,

05/15/2027

1,676,134

0.4

83,000 

(1)

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.,

5.500%,

03/01/2025

81,685

0.0

800,000 

(1)

ZF

North

America

Capital,

Inc.,

4.750%,

04/29/2025

769,968

0.2

1,085,000 

(1)

ZF

North

America

Capital,

Inc.,

6.875%,

04/14/2028

1,062,649

0.3

82,087,110

21.4

Consumer,

Non-cyclical

:

17.0%

950,000 

(1)

1375209

BC

Ltd.,

9.000%,

01/30/2028

940,180

0.2

1,550,000 

(1)

Acadia

Healthcare

Co.,

Inc.,

5.500%,

07/01/2028

1,443,219

0.4

1,575,000 

(1)

ADT

Security

Corp.,

4.125%,

08/01/2029

1,333,482

0.3

1,000,000 

(1)

AHP

Health

Partners,

Inc.,

5.750%,

07/15/2029

844,845

0.2

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

5

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Non-cyclical:

(continued)

1,125,000 

(1)

Albertsons

Cos.,

Inc.

/

Safeway,

Inc.

/

New

Albertsons

L.P.

/

Albertsons

LLC,

3.500%,

03/15/2029

$

960,154

0.3

450,000 

(1)

Albertsons

Cos.,

Inc.

/

Safeway,

Inc.

/

New

Albertsons

L.P.

/

Albertsons

LLC,

4.875%,

02/15/2030

406,057

0.1

1,050,000 

(1)

Albertsons

Cos.,

Inc.

/

Safeway,

Inc.

/

New

Albertsons

L.P.

/

Albertsons

LLC,

5.875%,

02/15/2028

1,011,742

0.3

1,350,000 

(1)

Alta

Equipment

Group,

Inc.,

5.625%,

04/15/2026

1,245,375

0.3

380,000 

(1)

AMN

Healthcare,

Inc.,

4.625%,

10/01/2027

343,832

0.1

520,000 

(1)

APi

Group

DE,

Inc.,

4.125%,

07/15/2029

437,627

0.1

775,000 

(1)

APi

Group

DE,

Inc.,

4.750%,

10/15/2029

681,472

0.2

1,550,000 

B&G

Foods,

Inc.,

5.250%,

09/15/2027

1,299,692

0.3

720,000 

(1)

Bausch

&

Lomb

Escrow

Corp.,

8.375%,

10/01/2028

723,038

0.2

1,225,000 

(1)

Bausch

Health

Cos.,

Inc.,

4.875%,

06/01/2028

698,705

0.2

1,225,000 

(1)

Bausch

Health

Cos.,

Inc.,

6.125%,

02/01/2027

763,845

0.2

1,225,000 

(1)

Bausch

Health

Cos.,

Inc.,

11.000%,

09/30/2028

834,164

0.2

1,150,000 

(1)

BellRing

Brands,

Inc.,

7.000%,

03/15/2030

1,133,882

0.3

1,600,000 

(1)

Cheplapharm

Arzneimittel

GmbH,

5.500%,

01/15/2028

1,453,536

0.4

625,000 

(1)

CHS/Community

Health

Systems,

Inc.,

4.750%,

02/15/2031

443,187

0.1

1,120,000 

(1)

CHS/Community

Health

Systems,

Inc.,

5.250%,

05/15/2030

852,865

0.2

900,000 

(1)

CHS/Community

Health

Systems,

Inc.,

5.625%,

03/15/2027

773,100

0.2

1,050,000 

(1)

CHS/Community

Health

Systems,

Inc.,

6.875%,

04/15/2029

559,125

0.1

1,575,000 

(1)

CPI

CG,

Inc.,

8.625%,

03/15/2026

1,553,493

0.4

500,000 

(1)

DaVita,

Inc.,

3.750%,

02/15/2031

380,527

0.1

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Non-cyclical:

(continued)

1,975,000 

(1)

DaVita,

Inc.,

4.625%,

06/01/2030

$

1,624,164

0.4

1,775,000 

Encompass

Health

Corp.,

4.750%,

02/01/2030

1,572,856

0.4

1,025,000 

(1)

Graham

Holdings

Co.,

5.750%,

06/01/2026

991,770

0.3

650,000 

(1)

IQVIA,

Inc.,

5.000%,

10/15/2026

622,106

0.2

800,000 

(1)

IQVIA,

Inc.,

6.500%,

05/15/2030

784,015

0.2

1,700,000 

(1)

Jazz

Securities

DAC,

4.375%,

01/15/2029

1,483,554

0.4

1,000,000 

(1)

KeHE

Distributors

LLC

/

KeHE

Finance

Corp.,

8.625%,

10/15/2026

1,003,982

0.3

1,800,000 

(1)(2)

Legacy

LifePoint

Health

LLC,

4.375%,

02/15/2027

1,550,196

0.4

1,225,000 

(1)

Legends

Hospitality

Holding

Co

LLC

/

Legends

Hospitality

Co-Issuer,

Inc.,

5.000%,

02/01/2026

1,201,866

0.3

1,450,000 

(1)

Medline

Borrower

L.P.,

3.875%,

04/01/2029

1,227,153

0.3

1,675,000 

(1)(2)

Medline

Borrower

L.P.,

5.250%,

10/01/2029

1,449,723

0.4

1,125,000 

(1)

ModivCare,

Inc.,

5.875%,

11/15/2025

1,070,471

0.3

900,000 

(1)(2)

MPH

Acquisition

Holdings

LLC,

5.750%,

11/01/2028

676,769

0.2

1,475,000 

(1)

NESCO

Holdings

II,

Inc.,

5.500%,

04/15/2029

1,296,091

0.3

850,000 

New

Albertsons

L.P.,

7.450%,

08/01/2029

859,465

0.2

1,975,000 

(1)

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV,

5.125%,

04/30/2031

1,585,417

0.4

975,000 

(1)

PECF

USS

Intermediate

Holding

III

Corp.,

8.000%,

11/15/2029

530,303

0.1

650,000 

Perrigo

Finance

Unlimited

Co.,

4.375%,

03/15/2026

608,446

0.2

1,000,000 

Perrigo

Finance

Unlimited

Co.,

4.650%,

06/15/2030

853,771

0.2

950,000 

(1)

Post

Holdings,

Inc.,

4.625%,

04/15/2030

814,672

0.2

1,875,000 

(1)

Post

Holdings,

Inc.,

5.625%,

01/15/2028

1,774,375

0.5

1,800,000 

(1)(2)

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.,

6.250%,

01/15/2028

1,669,173

0.4

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

6

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Consumer,

Non-cyclical:

(continued)

1,350,000 

(1)

Primo

Water

Holdings,

Inc.,

4.375%,

04/30/2029

$

1,155,708

0.3

1,275,000 

(1)

Select

Medical

Corp.,

6.250%,

08/15/2026

1,246,779

0.3

1,250,000 

(1)

Simmons

Foods,

Inc./

Simmons

Prepared

Foods,,

Inc.

./

Simmons

Pet

Food,,

Inc../Simmons

Feed,

4.625%,

03/01/2029

1,026,987

0.3

1,090,000 

(1)

Teleflex,

Inc.,

4.250%,

06/01/2028

976,215

0.3

1,050,000 

Tenet

Healthcare

Corp.,

4.250%,

06/01/2029

904,767

0.2

1,150,000 

(2)

Tenet

Healthcare

Corp.,

5.125%,

11/01/2027

1,071,374

0.3

1,875,000 

(2)

Tenet

Healthcare

Corp.,

6.125%,

10/01/2028

1,761,900

0.5

1,850,000 

Tenet

Healthcare

Corp.,

6.125%,

06/15/2030

1,736,779

0.5

1,400,000 

Teva

Pharmaceutical

Finance

Netherlands

III

BV,

4.750%,

05/09/2027

1,288,658

0.3

1,350,000 

(1)

Triton

Water

Holdings,

Inc.,

6.250%,

04/01/2029

1,105,218

0.3

1,100,000 

(1)

United

Natural

Foods,

Inc.,

6.750%,

10/15/2028

840,015

0.2

550,000 

United

Rentals

North

America,

Inc.,

3.750%,

01/15/2032

444,535

0.1

1,050,000 

United

Rentals

North

America,

Inc.,

4.875%,

01/15/2028

981,827

0.3

325,000 

United

Rentals

North

America,

Inc.,

5.250%,

01/15/2030

301,024

0.1

250,000 

United

Rentals

North

America,

Inc.,

5.500%,

05/15/2027

243,203

0.1

1,100,000 

(1)

Varex

Imaging

Corp.,

7.875%,

10/15/2027

1,103,801

0.3

1,100,000 

(1)

VT

Topco,

Inc.,

8.500%,

08/15/2030

1,090,711

0.3

550,000 

(1)

Williams

Scotsman

International,

Inc.,

4.625%,

08/15/2028

492,855

0.1

925,000 

(1)

Williams

Scotsman

International,

Inc.,

6.125%,

06/15/2025

916,735

0.2

65,056,573

17.0

Energy

:

11.7%

1,000,000 

(1)

Antero

Midstream

Partners

L.P.

/

Antero

Midstream

Finance

Corp.,

5.375%,

06/15/2029

916,688

0.2

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Energy:

(continued)

1,225,000 

(1)

Antero

Midstream

Partners

L.P.

/

Antero

Midstream

Finance

Corp.,

5.750%,

03/01/2027

$

1,170,302

0.3

600,000 

(1)

Antero

Resources

Corp.,

5.375%,

03/01/2030

553,124

0.1

1,175,000 

(1)

Archrock

Partners

L.P.

/

Archrock

Partners

Finance

Corp.,

6.250%,

04/01/2028

1,095,275

0.3

425,000 

(1)

Archrock

Partners

L.P.

/

Archrock

Partners

Finance

Corp.,

6.875%,

04/01/2027

411,537

0.1

1,525,000 

(1)

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp.,

5.875%,

06/30/2029

1,373,086

0.4

1,600,000 

(1)

Chord

Energy

Corp.,

6.375%,

06/01/2026

1,570,416

0.4

1,175,000 

(1)

CNX

Midstream

Partners

L.P.,

4.750%,

04/15/2030

979,497

0.3

1,640,000 

(1)

Crescent

Energy

Finance

LLC,

7.250%,

05/01/2026

1,608,947

0.4

190,000 

(1)

Crescent

Energy

Finance

LLC,

9.250%,

02/15/2028

194,163

0.0

1,925,000 

(1)

Crestwood

Midstream

Partners

L.P.

/

Crestwood

Midstream

Finance

Corp.,

6.000%,

02/01/2029

1,860,108

0.5

675,000 

Delek

Logistics

Partners

L.P.

/

Delek

Logistics

Finance

Corp.,

6.750%,

05/15/2025

662,199

0.2

950,000 

(1)

Delek

Logistics

Partners

L.P.

/

Delek

Logistics

Finance

Corp.,

7.125%,

06/01/2028

869,006

0.2

600,000 

(1)

DT

Midstream,

Inc.,

4.125%,

06/15/2029

519,523

0.1

1,150,000 

(1)

DT

Midstream,

Inc.,

4.375%,

06/15/2031

968,333

0.3

1,375,000 

(1)

Earthstone

Energy

Holdings

LLC,

8.000%,

04/15/2027

1,408,578

0.4

1,300,000 

(1)

Encino

Acquisition

Partners

Holdings

LLC,

8.500%,

05/01/2028

1,249,710

0.3

1,162,000 

(1)

Enerflex

Ltd.,

9.000%,

10/15/2027

1,148,689

0.3

2,250,000 

EnLink

Midstream

LLC,

5.375%,

06/01/2029

2,083,446

0.5

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

7

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Energy:

(continued)

400,000 

EnLink

Midstream

Partners

L.P.,

4.150%,

06/01/2025

$

382,220

0.1

1,175,000 

EQM

Midstream

Partners

L.P.,

5.500%,

07/15/2028

1,103,956

0.3

625,000 

(1)

EQM

Midstream

Partners

L.P.,

6.000%,

07/01/2025

615,874

0.2

925,000 

(1)

Hess

Midstream

Operations

L.P.,

4.250%,

02/15/2030

781,078

0.2

850,000 

(1)

Hess

Midstream

Operations

L.P.,

5.125%,

06/15/2028

782,761

0.2

400,000 

(1)

Hess

Midstream

Operations

L.P.,

5.500%,

10/15/2030

363,914

0.1

700,000 

(1)

Hilcorp

Energy

I

L.P.

/

Hilcorp

Finance

Co.,

5.750%,

02/01/2029

632,852

0.2

725,000 

(1)

Hilcorp

Energy

I

L.P.

/

Hilcorp

Finance

Co.,

6.000%,

04/15/2030

654,511

0.2

900,000 

(1)

Hilcorp

Energy

I

L.P.

/

Hilcorp

Finance

Co.,

6.000%,

02/01/2031

795,198

0.2

1,625,000 

(1)

Kinetik

Holdings

L.P.,

5.875%,

06/15/2030

1,525,306

0.4

1,575,000 

(1)(2)

Matador

Resources

Co.,

6.875%,

04/15/2028

1,547,946

0.4

1,050,000 

(1)

Moss

Creek

Resources

Holdings,

Inc.,

7.500%,

01/15/2026

1,018,327

0.3

1,175,000 

Murphy

Oil

Corp.,

6.375%,

07/15/2028

1,156,093

0.3

1,000,000 

(1)

Northern

Oil

and

Gas,

Inc.,

8.750%,

06/15/2031

1,008,751

0.3

1,325,000 

(2)

Occidental

Petroleum

Corp.,

5.500%,

12/01/2025

1,309,024

0.3

1,475,000 

(1)

Permian

Resources

Operating

LLC,

5.875%,

07/01/2029

1,389,420

0.4

2,225,000 

Southwestern

Energy

Co.,

5.375%,

02/01/2029

2,051,222

0.5

480,000 

Sunoco

L.P.

/

Sunoco

Finance

Corp.,

4.500%,

05/15/2029

421,820

0.1

1,225,000 

Sunoco

L.P.

/

Sunoco

Finance

Corp.,

4.500%,

04/30/2030

1,062,366

0.3

735,000 

(1)

Tallgrass

Energy

Partners

L.P.

/

Tallgrass

Energy

Finance

Corp.,

7.500%,

10/01/2025

733,809

0.2

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Energy:

(continued)

806,250 

(1)

Transocean

Poseidon

Ltd.,

6.875%,

02/01/2027

$

794,616

0.2

190,000 

(1)

Transocean

Titan

Financing

Ltd.,

8.375%,

02/01/2028

193,486

0.0

750,000 

(1)

Transocean,

Inc.,

7.500%,

01/15/2026

733,796

0.2

550,000 

(1)

Venture

Global

Calcasieu

Pass

LLC,

3.875%,

08/15/2029

463,410

0.1

1,600,000 

(1)

Venture

Global

Calcasieu

Pass

LLC,

4.125%,

08/15/2031

1,314,609

0.3

725,000 

(1)

Venture

Global

LNG,

Inc.,

8.125%,

06/01/2028

718,383

0.2

725,000 

(1)

Venture

Global

LNG,

Inc.,

8.375%,

06/01/2031

713,431

0.2

44,910,806

11.7

Financial

:

7.7%

800,000 

(2)

Ally

Financial,

Inc.,

5.750%,

11/20/2025

777,378

0.2

575,000 

Ally

Financial,

Inc.,

6.700%,

02/14/2033

499,733

0.1

1,150,000 

(1)

Aretec

Escrow

Issuer,

Inc.,

7.500%,

04/01/2029

1,024,538

0.3

1,300,000 

(1)

BroadStreet

Partners,

Inc.,

5.875%,

04/15/2029

1,148,444

0.3

1,250,000 

(1)

Burford

Capital

Global

Finance

LLC,

6.875%,

04/15/2030

1,149,350

0.3

510,000 

(1)

Freedom

Mortgage

Corp.,

6.625%,

01/15/2027

448,767

0.1

875,000 

(1)

Freedom

Mortgage

Corp.,

8.250%,

04/15/2025

875,994

0.2

325,000 

(1)

Freedom

Mortgage

Corp.,

12.250%,

10/01/2030

332,600

0.1

2,435,000 

Icahn

Enterprises

L.P.

/

Icahn

Enterprises

Finance

Corp.,

5.250%,

05/15/2027

2,143,177

0.6

1,325,000 

(1)

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp.,

4.750%,

06/15/2029

1,072,051

0.3

450,000 

(1)

Midcap

Financial

Issuer

Trust,

5.625%,

01/15/2030

349,492

0.1

1,100,000 

(1)

Midcap

Financial

Issuer

Trust,

6.500%,

05/01/2028

950,871

0.3

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

8

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

1,250,000 

MPT

Operating

Partnership

L.P.

/

MPT

Finance

Corp.,

4.625%,

08/01/2029

$

887,229

0.2

1,475,000 

(2)

MPT

Operating

Partnership

L.P.

/

MPT

Finance

Corp.,

5.000%,

10/15/2027

1,145,297

0.3

825,000 

(1)

Nationstar

Mortgage

Holdings,

Inc.,

5.000%,

02/01/2026

771,520

0.2

1,600,000 

(1)

Nationstar

Mortgage

Holdings,

Inc.,

5.125%,

12/15/2030

1,301,186

0.3

1,375,000 

Navient

Corp.,

4.875%,

03/15/2028

1,167,024

0.3

775,000 

(2)

Navient

Corp.,

5.000%,

03/15/2027

697,434

0.2

575,000 

OneMain

Finance

Corp.,

4.000%,

09/15/2030

432,159

0.1

1,700,000 

OneMain

Finance

Corp.,

5.375%,

11/15/2029

1,425,790

0.4

400,000 

OneMain

Finance

Corp.,

7.125%,

03/15/2026

392,159

0.1

1,675,000 

(1)

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer,

5.875%,

10/01/2028

1,532,265

0.4

925,000 

(1)

PRA

Group,

Inc.,

5.000%,

10/01/2029

703,619

0.2

1,775,000 

(1)

Realogy

Group

LLC

/

Realogy

Co-Issuer

Corp.,

5.750%,

01/15/2029

1,285,793

0.3

1,575,000 

(1)

RHP

Hotel

Properties

L.P.

/

RHP

Finance

Corp.,

7.250%,

07/15/2028

1,548,907

0.4

200,000 

(1)

RLJ

Lodging

Trust

L.P.,

3.750%,

07/01/2026

181,064

0.1

550,000 

Service

Properties

Trust,

4.750%,

10/01/2026

472,388

0.1

525,000 

Service

Properties

Trust,

5.500%,

12/15/2027

449,342

0.1

1,750,000 

(1)

United

Wholesale

Mortgage

LLC,

5.750%,

06/15/2027

1,585,911

0.4

1,125,000 

(1)

Uniti

Group

L.P.

/

Uniti

Group

Finance,

Inc.

/

CSL

Capital

LLC,

10.500%,

02/15/2028

1,102,981

0.3

1,500,000 

(1)

XHR

L.P.,

4.875%,

06/01/2029

1,276,613

0.3

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Financial:

(continued)

250,000 

(1)

XHR

L.P.,

6.375%,

08/15/2025

$

245,683

0.1

29,376,759

7.7

Industrial

:

12.2%

730,000 

(1)

AmeriTex

HoldCo

Intermediate

LLC,

10.250%,

10/15/2028

722,700

0.2

1,750,000 

(1)(3)

ARD

Finance

SA,

6.500%

(PIK

Rate

7.250%,

Cash

Rate

6.500%),

06/30/2027

1,323,072

0.3

675,000 

(2)

Ball

Corp.,

3.125%,

09/15/2031

529,563

0.1

225,000 

Ball

Corp.,

4.875%,

03/15/2026

216,306

0.1

575,000 

Ball

Corp.,

6.875%,

03/15/2028

579,086

0.2

850,000 

(1)(2)

Bombardier,

Inc.,

7.500%,

02/01/2029

807,718

0.2

1,000,000 

(1)

Bombardier,

Inc.,

7.875%,

04/15/2027

976,607

0.3

1,225,000 

(1)

Brundage-Bone

Concrete

Pumping

Holdings,

Inc.,

6.000%,

02/01/2026

1,166,659

0.3

1,575,000 

(1)

Builders

FirstSource,

Inc.,

5.000%,

03/01/2030

1,406,116

0.4

200,000 

(1)

Cascades,

Inc.

/

Cascades

USA,

Inc.,

5.125%,

01/15/2026

191,964

0.0

1,350,000 

(1)

Cascades,

Inc.

/

Cascades

USA,

Inc.,

5.375%,

01/15/2028

1,248,642

0.3

1,395,000 

(1)

Chart

Industries,

Inc.,

7.500%,

01/01/2030

1,404,388

0.4

1,100,000 

(1)

Clean

Harbors,

Inc.,

6.375%,

02/01/2031

1,070,972

0.3

1,465,000 

(1)

Emerald

Debt

Merger

Sub

LLC,

6.625%,

12/15/2030

1,412,150

0.4

1,825,000 

(1)

Energizer

Holdings,

Inc.,

4.750%,

06/15/2028

1,578,539

0.4

1,625,000 

(1)

Fortress

Transportation

and

Infrastructure

Investors

LLC,

5.500%,

05/01/2028

1,474,974

0.4

375,000 

(1)

Fortress

Transportation

and

Infrastructure

Investors

LLC,

6.500%,

10/01/2025

368,902

0.1

1,475,000 

(1)

GFL

Environmental,

Inc.,

4.000%,

08/01/2028

1,290,266

0.3

400,000 

(1)

GFL

Environmental,

Inc.,

4.250%,

06/01/2025

384,810

0.1

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

9

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Industrial:

(continued)

700,000 

(1)

GFL

Environmental,

Inc.,

4.375%,

08/15/2029

$

608,912

0.2

550,000 

(1)

Global

Infrastructure

Solutions,

Inc.,

5.625%,

06/01/2029

453,874

0.1

675,000 

(1)

Global

Infrastructure

Solutions,

Inc.,

7.500%,

04/15/2032

578,347

0.1

1,175,000 

(1)

GrafTech

Finance,

Inc.,

4.625%,

12/15/2028

909,767

0.2

1,350,000 

(1)

Graham

Packaging

Co.,

Inc.,

7.125%,

08/15/2028

1,133,126

0.3

1,050,000 

Howmet

Aerospace,

Inc.,

5.900%,

02/01/2027

1,032,613

0.3

1,800,000 

(1)

Imola

Merger

Corp.,

4.750%,

05/15/2029

1,579,295

0.4

750,000 

(1)(3)

Intelligent

Packaging

Holdco

Issuer

L.P.,

9.000%

(PIK

Rate

9.750%,

Cash

Rate

9.000%),

01/15/2026

624,031

0.2

1,175,000 

(1)

Intelligent

Packaging

Ltd.

Finco,

Inc.

/

Intelligent

Packaging

Ltd.

Co-Issuer

LLC,

6.000%,

09/15/2028

1,029,931

0.3

1,100,000 

(1)

Maxim

Crane

Works

Holdings

Capital

LLC,

11.500%,

09/01/2028

1,072,500

0.3

1,625,000 

(1)

New

Enterprise

Stone

&

Lime

Co.,

Inc.,

9.750%,

07/15/2028

1,606,646

0.4

1,300,000 

(1)(2)

Owens-Brockway

Glass

Container,

Inc.,

7.250%,

05/15/2031

1,272,375

0.3

1,350,000 

(1)

PGT

Innovations,

Inc.,

4.375%,

10/01/2029

1,246,284

0.3

1,075,000 

(1)

Roller

Bearing

Co.

of

America,

Inc.,

4.375%,

10/15/2029

926,018

0.2

800,000 

(1)

Rolls-Royce

PLC,

3.625%,

10/14/2025

752,000

0.2

1,300,000 

(1)

Rolls-Royce

PLC,

5.750%,

10/15/2027

1,255,681

0.3

1,250,000 

(1)

Sealed

Air

Corp.,

4.000%,

12/01/2027

1,116,752

0.3

200,000 

(1)

Sealed

Air

Corp.,

5.125%,

12/01/2024

197,668

0.1

650,000 

(1)

Sealed

Air

Corp/Sealed

Air

Corp.

US,

6.125%,

02/01/2028

630,231

0.2

550,000 

(1)

Sensata

Technologies

BV,

5.000%,

10/01/2025

533,790

0.1

1,700,000 

(1)

Sensata

Technologies,

Inc.,

3.750%,

02/15/2031

1,377,595

0.4

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Industrial:

(continued)

1,600,000 

(1)

Standard

Industries,

Inc.,

3.375%,

01/15/2031

$

1,238,778

0.3

925,000 

(1)

Standard

Industries,

Inc.,

4.375%,

07/15/2030

767,051

0.2

1,025,000 

(1)

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.,

5.250%,

01/15/2029

931,688

0.2

725,000 

(1)

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.,

6.500%,

03/15/2027

708,652

0.2

1,250,000 

TransDigm,

Inc.,

4.625%,

01/15/2029

1,093,119

0.3

1,025,000 

TransDigm,

Inc.,

5.500%,

11/15/2027

960,778

0.2

1,775,000 

(1)

TransDigm,

Inc.,

6.875%,

12/15/2030

1,742,551

0.5

1,250,000 

(1)

Weekley

Homes

LLC

/

Weekley

Finance

Corp.,

4.875%,

09/15/2028

1,086,156

0.3

46,619,643

12.2

Technology

:

2.5%

1,600,000 

(1)

Cloud

Software

Group,

Inc.,

6.500%,

03/31/2029

1,416,545

0.4

925,000 

(1)(2)

Cloud

Software

Group,

Inc.,

9.000%,

09/30/2029

805,107

0.2

875,000 

(1)

Consensus

Cloud

Solutions,

Inc.,

6.500%,

10/15/2028

746,540

0.2

775,000 

(1)

Entegris

Escrow

Corp.,

5.950%,

06/15/2030

719,546

0.2

550,000 

(1)(2)

Entegris,

Inc.,

3.625%,

05/01/2029

467,605

0.1

1,200,000 

(1)

McAfee

Corp.,

7.375%,

02/15/2030

1,006,036

0.3

1,210,000 

(1)

NCR

Atleos

Escrow

Corp.,

9.500%,

04/01/2029

1,171,564

0.3

645,000 

(1)

Open

Text

Corp.,

3.875%,

12/01/2029

530,911

0.1

1,375,000 

(1)

Open

Text

Holdings,

Inc.,

4.125%,

02/15/2030

1,151,826

0.3

1,075,000 

(1)

Rackspace

Technology

Global,

Inc.,

5.375%,

12/01/2028

361,872

0.1

1,375,000 

(1)

Virtusa

Corp.,

7.125%,

12/15/2028

1,112,052

0.3

9,489,604

2.5

Utilities

:

1.3%

1,400,000 

(1)

Atlantica

Sustainable

Infrastructure

PLC,

4.125%,

06/15/2028

1,209,841

0.3

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

10

Voya

High

Yield

Portfolio

Principal

Amount†

Value

Percentage

of

Net

Assets

CORPORATE

BONDS/NOTES:

(continued)

Utilities:

(continued)

1,175,000 

TransAlta

Corp.,

7.750%,

11/15/2029

$

1,190,786

0.3

800,000 

(1)

Vistra

Operations

Co.

LLC,

4.375%,

05/01/2029

688,446

0.2

875,000 

(1)

Vistra

Operations

Co.

LLC,

5.500%,

09/01/2026

835,271

0.2

1,075,000 

(1)

Vistra

Operations

Co.

LLC,

5.625%,

02/15/2027

1,020,446

0.3

4,944,790

1.3

Total

Corporate

Bonds/

Notes

(Cost

$399,584,584)

361,714,290

94.5

BANK

LOANS

:

1.2%

Communications

:

0.3%

1,300,000 

AP

Core

Holdings

II,

LLC,

High-Yield

Term

Loan

B2,

10.717%,

(TSFR3M+5.500%),

09/01/2027

1,264,520

0.3

Consumer,

Non-cyclical

:

0.2%

965,000 

Nielsen

Consumer

Inc.,

2023

USD

Fifth

Amendment

Incremental

Term

Loan,

11.549%,

(TSFR3M+6.250%),

03/05/2028

923,988

0.2

Financial

:

0.4%

1,480,000 

HUB

International

Limited,

2023

Term

Loan

B,

9.369%,

(TSFR3M+4.250%),

06/30/2030

1,486,311

0.4

Lodging

&

Casinos

:

0.3%

1,000,000 

Hilton

Worldwide,

2019

Term

Loan

B2,

6.939%,

(TSFR1M+1.750%),

06/21/2026

1,000,759

0.3

Total

Bank

Loans

(Cost

$4,683,831)

4,675,578

1.2

CONVERTIBLE

BONDS/NOTES

:

0.0%

Financial

:

0.0%

499,200 

(1)

Lehman

Brothers

Holdings,

Inc.

SD,

8.160%,

05/30/2009

1,358

0.0

Total

Convertible

Bonds/Notes

(Cost

$451,666)

1,358

0.0

Shares

RA

Value

Percentage

of

Net

Assets

COMMON

STOCK

:

0.0%

Consumer

Discretionary

:

—%

1,476 

(1)(5)

Perseus

Holding

Corp.

$

—

—

Energy

:

0.0%

2 

(6)

Amplify

Energy

Corp.

15

0.0

424,441 

(5)

Ascent

Resources

-

Utica

LLC

-

Class

A

5,093

0.0

5,108

0.0

Health

Care

:

0.0%

26 

(6)

Option

Care

Health,

Inc.

841

0.0

Total

Common

Stock

(Cost

$10,389)

5,949

0.0

OTHER

:

—%

Energy

:

—%

2,000 

(5)(6)(7)

Green

Field

Energy

Services,

Inc.

—

—

Total

Other

(Cost

$–)

—

—

PREFERRED

STOCK

:

—%

Consumer

Discretionary

:

—%

775 

(1)(5)

Perseus

Holding

Corp.

(1)

—

—

Total

Preferred

Stock

(Cost

$–)

—

—

WARRANTS

:

0.0%

Health

Care

:

0.0%

126 

Option

Care

Health

Warrants

Class

B

and

1,501

0.0

126 

Option

Healthcare,

Inc.

Class

A

Warrants

and

1,839

0.0

3,340

0.0

Total

Warrants

(Cost

$–)

3,340

0.0

Total

Long-Term

Investments

(Cost

$404,730,470)

366,400,515

95.7

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS

:

11.1%

Commercial

Paper

:

3.5%

850,000 

American

Electric

Power

Co.,

Inc.,

5.840

%,

10/30/2023

845,937

0.2

1,675,000 

American

Honda

Finance

Corp.,

5.840

%,

12/11/2023

1,655,912

0.4

250,000 

AT&T,

Inc.,

5.960

%,

02/21/2024

244,252

0.1

1,650,000 

Cigna

Group,

5.790

%,

11/27/2023

1,634,968

0.4

1,300,000 

Dominion

Energy,

Inc.,

6.410

%,

10/06/2023

1,298,632

0.3

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

11

Voya

High

Yield

Portfolio

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Commercial

Paper

(continued)

1,125,000 

EIDP

Inc.,

8.340

%,

10/02/2023

$

1,124,486

0.3

1,600,000 

Entergy

Corp.,

5.810

%,

11/13/2023

1,588,870

0.4

550,000 

Equifax,

Inc.,

6.610

%,

10/05/2023

549,502

0.2

2,000,000 

Old

Line

Funding,

5.930

%,

05/01/2024

1,932,992

0.5

2,000,000 

Parker-Hannifin

Corp.,

7.340

%,

10/03/2023

1,998,794

0.5

575,000 

Sysco

Corp.,

8.210

%,

10/02/2023

574,741

0.2

Total

Commercial

Paper

(Cost

$13,453,599)

13,449,086

3.5

Repurchase

Agreements

:

7.6%

5,436,410 

(8)

Cantor

Fitzgerald,

Repurchase

Agreement

dated

09/29/2023,

5.320%,

due

10/02/2023

(Repurchase

Amount

$5,438,787,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

1.500%-

7.500%,

Market

Value

plus

accrued

interest

$5,545,138,

due

05/01/25-03/15/65)

5,436,410

1.4

3,457,596 

(8)

CF

Secured

LLC,

Repurchase

Agreement

dated

09/29/2023,

5.320%,

due

10/02/2023

(Repurchase

Amount

$3,459,108,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

0.000%-

7.166%,

Market

Value

plus

accrued

interest

$3,526,749,

due

11/15/23-08/20/72)

3,457,596

0.9

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

6,881,750 

(8)

Industrial

&

Comm.

Bank

of

China,

Repurchase

Agreement

dated

09/29/2023,

5.330%,

due

10/02/2023

(Repurchase

Amount

$6,884,765,

collateralized

by

various

U.S.

Government

Securities,

0.000%-

7.500%,

Market

Value

plus

accrued

interest

$7,019,385,

due

10/31/23-02/15/53)

$

6,881,750

1.8

5,577,300 

(8)

Mirae

Asset

Securities

USA

Inc.,

Repurchase

Agreement

dated

09/29/2023,

5.370%,

due

10/02/2023

(Repurchase

Amount

$5,579,762,

collateralized

by

various

U.S.

Government/U.S.

Government

Agency

Obligations,

1.500%-

7.449%,

Market

Value

plus

accrued

interest

$5,691,392,

due

02/15/25-04/20/71)

5,577,300

1.5

781,505 

(8)

National

Bank

Financial,

Repurchase

Agreement

dated

09/29/2023,

5.340%,

due

10/02/2023

(Repurchase

Amount

$781,848,

collateralized

by

various

U.S.

Government

Securities,

0.000%-4.750%,

Market

Value

plus

accrued

interest

$797,135,

due

10/02/23)

781,505

0.2

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

12

Voya

High

Yield

Portfolio

Principal

Amount

†

RA

Value

Percentage

of

Net

Assets

SHORT-TERM

INVESTMENTS:

(continued)

Repurchase

Agreements

(continued)

6,951,263 

(8)

State

of

Wisconsin

Investment

Board,

Repurchase

Agreement

dated

09/29/2023,

5.380%,

due

10/02/2023

(Repurchase

Amount

$6,954,337,

collateralized

by

various

U.S.

Government

Securities,

0.125%-

3.875%,

Market

Value

plus

accrued

interest

$7,090,291,

due

07/15/25-02/15/51)

$

6,951,263

1.8

Total

Repurchase

Agreements

(Cost

$29,085,824)

29,085,824

7.6

Total

Short-Term

Investments

(Cost

$42,539,423)

42,534,910

11.1

Total

Investments

in

Securities

(Cost

$447,269,893)

$

408,935,425

106.8

Liabilities

in

Excess

of

Other

Assets

(25,957,536)

(6.8)

Net

Assets

$

382,977,889

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)

All

or

a

portion

of

this

security

is

payment-in-kind

(“PIK”)

which

may

pay

interest

or

additional

principal

at

the

issuer’s

discretion.

Rates

shown

are

the

current

rate

and

possible

payment

rates.

(4)

Variable

rate

security.

Rate

shown

is

the

rate

in

effect

as

of

September

30,

2023.

(5)

For

fair

value

measurement

disclosure

purposes,

security

is

categorized

as

Level

3,

whose

value

was

determined

using

significant

unobservable

inputs.

(6)

Non-income

producing

security.

(7)

Restricted

security

as

to

resale,

excluding

Rule

144A

securities.

As

of

September

30,

2023,

the

Fund

held

restricted

securities

with

a

fair

value

of

$–

or

—%

of

net

assets.

Please

refer

to

the

table

below

for

additional

details.

(8)

All

or

a

portion

of

the

security

represents

securities

purchased

with

cash

collateral

received

for

securities

on

loan.

Reference

Rate

Abbreviations:

TSFR1M

1-month

CME

Term

Secured

Overnight

Financing

Rate

TSFR3M

3-month

CME

Term

Secured

Overnight

Financing

Rate

PORTFOLIO

OF

INVESTMENTS

as

of

September

30,

2023

(unaudited)

(continued)

13

Voya

High

Yield

Portfolio

Fair

Value

Measurements

The

following

is

a

summary

of

the

fair

valuations

according

to

the

inputs

used

as

of

September

30,

2023

in

valuing

the

assets

and

liabilities:

Quoted

Prices

in

Active

Markets

for

Identical

Investments

(Level

1)

Significant

Other

Observable

Inputs

(Level

2)

Significant

Unobservable

Inputs

(Level

3)

Fair

Value

at

September

30,

2023

Asset

Table

Investments,

at

fair

value

Common

Stock

Consumer

Discretionary

$

—

$

—

$

—

$

—

Energy

15

—

5,093

5,108

Health

Care

841

—

—

841

Total

Common

Stock

856

—

5,093

5,949

Corporate

Bonds/Notes

—

361,714,290

—

361,714,290

Bank

Loans

—

4,675,578

—

4,675,578

Warrants

—

3,340

—

3,340

Convertible

Bonds/Notes

—

1,358

—

1,358

Preferred

Stock

—

—

—

—

Other

—

—

—

—

Short-Term

Investments

—

42,534,910

—

42,534,910

Total

Investments,

at

fair

value

$

856

$

408,929,476

$

5,093

$

408,935,425

At

September

30,

2023,

Voya

High

Yield

Portfolio

held

the

following

restricted

securities:

Security

Acquisition

Date

Acquisition

Cost

Fair

Value

Green

Field

Energy

Services,

Inc.

8/25/2019

$

—

$

—

$

—

$

—

Net

unrealized

depreciation

consisted

of:

Gross

Unrealized

Appreciation

$

1,113,202

Gross

Unrealized

Depreciation

(39,447,671)

Net

Unrealized

Depreciation

$

(38,334,469)