NPORT-EX 2 472499VOYA013125.htm
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2025
(Unaudited)
1
Voya
Multi-Manager
International
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
98.4%
Australia
:
2.9%
108,077 
Computershare
Ltd.
$
2,349,388
0.5
105,187 
Lottery
Corp.
Ltd.
327,009
0.1
50,428 
National
Australia
Bank
Ltd.
1,242,632
0.2
1,508,531 
Telstra
Group
Ltd.
3,682,922
0.7
333,472 
Transurban
Group
2,746,841
0.5
466,338 
Vicinity
Ltd.
632,016
0.1
16,170 
Washington
H
Soul
Pattinson
&
Co.
Ltd.
341,181
0.1
200,157 
Woolworths
Group
Ltd.
3,763,262
0.7
15,085,251
2.9
Austria
:
0.4%
82,344 
Mondi
PLC
MNP
1,276,569
0.2
66,156 
Mondi
PLC
QX
1,029,762
0.2
2,306,331
0.4
Belgium
:
0.4%
6,178 
Anheuser-Busch
InBev
SA
304,429
0.1
7,588 
D'ieteren
Group
1,272,786
0.2
10,494 
Groupe
Bruxelles
Lambert
NV
728,492
0.1
2,305,707
0.4
Brazil
:
0.7%
359,900 
TIM
SA/Brazil
958,247
0.2
333,800 
Totvs
SA
1,947,721
0.4
41,821 
XP,
Inc.
-
Class
A
570,857
0.1
3,476,825
0.7
Canada
:
5.1%
22,640 
Canadian
Pacific
Kansas
City
Ltd.
1,799,236
0.3
25,653 
Canadian
Tire
Corp.
Ltd.
-
Class
A
2,888,047
0.6
62,382 
Cenovus
Energy,
Inc.
902,239
0.2
689 
Constellation
Software,
Inc.
2,253,298
0.4
32,878 
Dollarama,
Inc.
3,111,234
0.6
55,621 
Magna
International,
Inc.
2,205,169
0.4
50,200 
Methanex
Corp.
2,617,854
0.5
72,100 
Open
Text
Corp.
2,121,303
0.4
17,811 
RB
Global,
Inc.
1,592,555
0.3
18,456 
Royal
Bank
of
Canada
2,249,998
0.4
12,694 
(1)
Shopify,
Inc.
-
CAD
-
Class
A
1,481,425
0.3
10,087 
TFI
International,
Inc.
1,329,387
0.3
26,996 
Toromont
Industries
Ltd.
2,152,659
0.4
26,704,404
5.1
Chile
:
0.7%
54,144,100 
Latam
Airlines
Group
SA
820,248
0.2
338,874 
Lundin
Mining
Corp.
2,676,763
0.5
3,497,011
0.7
China
:
2.5%
151,007 
ENN
Energy
Holdings
Ltd.
1,027,913
0.2
57,873 
KE
Holdings,
Inc.,
ADR
1,008,726
0.2
42,755 
(1)(2)
Meituan
-
Class
B
813,737
0.2
103,600 
Proya
Cosmetics
Co.
Ltd.
-
Class
A
1,200,767
0.2
116,059 
Tencent
Holdings
Ltd.
6,106,470
1.2
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
188,800 
Vipshop
Holdings
Ltd.,
ADR
$
2,713,056
0.5
12,870,669
2.5
Denmark
:
0.9%
3,240 
Carlsberg
AS
-
Class
B
339,361
0.1
17,926 
Coloplast
A/S
-
Class
B
2,064,494
0.4
27,831 
Novo
Nordisk
A/S
-
Class
B
2,349,623
0.4
4,753,478
0.9
Finland
:
0.1%
7,675 
Sampo
Oyj
-
Class
A
316,826
0.1
France
:
9.0%
36,079 
Accor
SA
1,854,808
0.4
10,268 
Airbus
SE
1,776,069
0.3
7,114 
Arkema
SA
566,983
0.1
63,965 
Bouygues
SA
2,033,213
0.4
11,844 
Capgemini
SE
2,152,245
0.4
10,054 
Cie
de
Saint-Gobain
942,796
0.2
68,192 
Cie
Generale
des
Etablissements
Michelin
SCA
2,371,511
0.4
4,794 
Danone
SA
335,795
0.1
12,278 
Eiffage
SA
1,096,876
0.2
15,789 
EssilorLuxottica
SA
4,333,422
0.8
3,265 
Gecina
SA
318,747
0.1
20,123 
Getlink
SE
321,914
0.1
476 
Hermes
International
1,338,824
0.3
20,926 
IPSOS
990,194
0.2
20,688 
Klepierre
SA
615,908
0.1
4,724 
LVMH
Moet
Hennessy
Louis
Vuitton
SE
3,455,149
0.7
30,665 
Orange
SA
329,786
0.1
14,058 
Pernod
Ricard
SA
1,605,551
0.3
27,600 
Publicis
Groupe
SA
2,935,309
0.6
34,200 
Renault
SA
1,755,748
0.3
30,005 
Sanofi
3,260,998
0.6
41,039 
Societe
Generale
SA
1,328,432
0.2
23,100 
Teleperformance
2,163,121
0.4
44,308 
TotalEnergies
SE
2,566,853
0.5
57,524 
Vinci
SA
6,224,826
1.2
46,675,078
9.0
Germany
:
10.3%
8,374 
Adidas
AG
2,207,883
0.4
8,849 
Allianz
SE
2,885,355
0.6
76,869 
BASF
SE
3,703,367
0.7
60,907 
Bayer
AG
1,362,891
0.3
15,658 
Brenntag
SE
985,199
0.2
69,600 
Daimler
Truck
Holding
AG
3,064,999
0.6
177,346 
Deutsche
Telekom
AG,
Reg
5,949,764
1.1
143,086 
E.ON
SE
1,694,825
0.3
17,924 
Evonik
Industries
AG
336,574
0.1
66,900 
flatexDEGIRO
AG
1,133,419
0.2
68,823 
(1)
Fresenius
SE
&
Co.
KGaA
2,633,543
0.5
16,701 
Hannover
Rueck
SE
4,400,518
0.8
58,940 
Infineon
Technologies
AG
1,937,856
0.4
2,982 
Linde
PLC
DE
1,324,006
0.2
30,734 
Mercedes-Benz
Group
AG
1,869,857
0.4
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2025
(Unaudited)
(continued)
2
Voya
Multi-Manager
International
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Germany
(continued)
11,766 
Merck
KGaA
$
1,776,104
0.3
5,349 
Muenchener
Rueckversicherungs-
Gesellschaft
AG
in
Muenchen
2,899,326
0.6
28,327 
SAP
SE
7,806,179
1.5
23,684 
(2)
Scout24
SE
2,303,073
0.4
11,241 
Siemens
AG,
Reg
2,409,797
0.5
18,386 
(1)
Siemens
Energy
AG
1,093,915
0.2
53,778,450
10.3
Hong
Kong
:
2.8%
465,714 
AIA
Group
Ltd.
3,274,038
0.6
112,500 
CK
Asset
Holdings
Ltd.
470,073
0.1
283,000 
CK
Hutchison
Holdings
Ltd.
1,425,102
0.3
199,200 
Hang
Seng
Bank
Ltd.
2,496,092
0.5
675,000 
Hong
Kong
&
China
Gas
Co.
Ltd.
518,258
0.1
105,544 
Hong
Kong
Exchanges
&
Clearing
Ltd.
4,130,959
0.8
313,400 
Hongkong
Land
Holdings
Ltd.
1,363,736
0.3
7,500 
Jardine
Matheson
Holdings
Ltd.
302,104
0.0
40,276 
Prudential
PLC
335,173
0.1
14,315,535
2.8
India
:
1.5%
143,962 
Axis
Bank
Ltd.
1,631,169
0.3
52,639 
HDFC
Bank
Ltd.,
ADR
3,192,029
0.6
33,519 
Larsen
&
Toubro
Ltd.
1,375,334
0.3
100,197 
Reliance
Industries
Ltd.
1,458,153
0.3
7,656,685
1.5
Indonesia
:
0.2%
2,085,769 
Bank
Central
Asia
Tbk
PT
1,204,907
0.2
Ireland
:
1.8%
10,464 
Accenture
PLC
-
Class
A
4,028,117
0.8
60,355 
Bank
of
Ireland
Group
PLC
599,697
0.1
68,243 
Experian
PLC
3,361,614
0.7
504,228 
Greencore
Group
PLC
1,214,119
0.2
9,203,547
1.8
Israel
:
0.8%
14,995 
(1)
Check
Point
Software
Technologies
Ltd.
3,269,210
0.6
2,795 
(1)
CyberArk
Software
Ltd.
1,036,889
0.2
4,306,099
0.8
Italy
:
1.6%
163,200 
Eni
SpA
2,297,596
0.4
56,104 
(1)(2)
Nexi
SpA
284,915
0.1
21,677 
(2)
Poste
Italiane
SpA
328,961
0.1
493,024 
(1)
Saipem
SpA
1,203,056
0.2
480,234 
Snam
SpA
2,220,816
0.4
137,907 
(1)
TREVI
-
Finanziaria
Industriale
SpA
38,699
0.0
43,964 
UniCredit
SpA
2,018,967
0.4
8,393,010
1.6
Japan
:
13.7%
30,100 
AGC,
Inc.
869,569
0.2
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan
(continued)
89,200 
Aisin
Corp.
$
1,008,995
0.2
105,600 
Asahi
Group
Holdings
Ltd.
1,143,789
0.2
63,900 
Asahi
Kasei
Corp.
433,986
0.1
87,700 
Bridgestone
Corp.
3,145,880
0.6
16,300 
Central
Japan
Railway
Co.
302,313
0.1
147,200 
Daicel
Corp.
1,302,525
0.2
8,600 
Daikin
Industries
Ltd.
1,010,167
0.2
85,500 
FANUC
Corp.
2,547,201
0.5
3,600 
Fast
Retailing
Co.
Ltd.
1,185,686
0.2
19,100 
Hoya
Corp.
2,564,862
0.5
95,009 
ITOCHU
Corp.
4,374,602
0.8
77,100 
KDDI
Corp.
2,568,664
0.5
9,326 
Keyence
Corp.
4,016,791
0.8
26,200 
Kubota
Corp.
328,635
0.1
254,200 
Kyocera
Corp.
2,638,543
0.5
172,700 
M3,
Inc.
1,567,431
0.3
33,300 
Macnica
Holdings,
Inc.
390,856
0.1
159,000 
Marubeni
Corp.
2,363,943
0.4
66,100 
Mitsubishi
Corp.
1,054,244
0.2
228,200 
Mitsubishi
UFJ
Financial
Group,
Inc.
2,885,908
0.5
34,700 
Nomura
Research
Institute
Ltd.
1,172,417
0.2
177,900 
Ono
Pharmaceutical
Co.
Ltd.
1,850,760
0.3
128,600 
ORIX
Corp.
2,716,395
0.5
7,500 
Otsuka
Holdings
Co.
Ltd.
391,629
0.1
66,500 
Recruit
Holdings
Co.
Ltd.
4,641,181
0.9
83,000 
(1)
Renesas
Electronics
Corp.
1,111,742
0.2
99,100 
Shin-Etsu
Chemical
Co.
Ltd.
3,072,321
0.6
134,400 
SMS
Co.
Ltd.
1,439,185
0.3
22,400 
SoftBank
Group
Corp.
1,369,350
0.3
256,900 
Sony
Group
Corp.
5,669,614
1.1
17,000 
Subaru
Corp.
296,130
0.1
82,600 
Sumitomo
Corp.
1,790,789
0.3
48,400 
Sumitomo
Mitsui
Trust
Holdings,
Inc.
1,217,033
0.2
73,500 
T&D
Holdings,
Inc.
1,398,325
0.3
119,000 
Takeda
Pharmaceutical
Co.
Ltd.
3,201,103
0.6
77,800 
Toei
Animation
Co.
Ltd.
1,591,881
0.3
28,500 
Tokyu
Corp.
325,251
0.1
69,400 
Unicharm
Corp.
542,001
0.1
71,501,697
13.7
Netherlands
:
5.0%
67,679 
Aegon
Ltd.
441,841
0.1
7,443 
ASML
Holding
NV
5,506,045
1.1
9,165 
EXOR
NV
868,367
0.2
13,894 
IMCD
NV
2,175,802
0.4
79,700 
Koninklijke
Ahold
Delhaize
NV
2,824,371
0.5
142,792 
(1)
Koninklijke
Philips,
N.V.
3,935,663
0.7
93,279 
Shell
PLC
-
EUR
3,086,157
0.6
85,275 
Universal
Music
Group
NV
2,378,505
0.5
27,021 
Wolters
Kluwer
NV
4,908,681
0.9
26,125,432
5.0
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2025
(Unaudited)
(continued)
3
Voya
Multi-Manager
International
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
New
Zealand
:
0.1%
147,952 
Auckland
International
Airport
Ltd.
$
721,155
0.1
Norway
:
2.1%
154,277 
DNB
Bank
ASA
3,276,949
0.6
84,830 
Gjensidige
Forsikring
ASA
1,740,264
0.3
158,965 
SpareBank
1
SR-Bank
ASA
2,265,774
0.5
79,476 
Sparebanken
Vest
1,023,617
0.2
79,547 
Yara
International
ASA
2,382,467
0.5
10,689,071
2.1
Puerto
Rico
:
0.6%
29,766 
Popular,
Inc.
3,064,112
0.6
Russia
:
—%
1,561,600 
(3)
Alrosa
PJSC
—
—
Singapore
:
2.3%
168,200 
CapitaLand
Ascendas
REIT
318,881
0.1
2,638,000 
CapitaLand
Integrated
Commercial
Trust
3,765,666
0.7
545,400 
Genting
Singapore
Ltd.
302,006
0.1
533,000 
Singapore
Telecommunications
Ltd.
1,302,313
0.2
235,453 
United
Overseas
Bank
Ltd.
6,472,522
1.2
12,161,388
2.3
South
Africa
:
0.5%
141,869 
Clicks
Group
Ltd.
2,730,689
0.5
South
Korea
:
3.1%
15,700 
(1)
F&F
Co.
Ltd.
690,886
0.1
37,721 
Kia
Corp.
2,632,091
0.5
58,537 
KT
Corp.,
ADR
1,014,446
0.2
34,100 
LG
Electronics,
Inc.
1,964,706
0.4
67,601 
Samsung
Electronics
Co.
Ltd.
2,414,283
0.5
104,733 
Shinhan
Financial
Group
Co.
Ltd.
3,648,250
0.7
27,964 
SK
Hynix,
Inc.
3,764,784
0.7
16,129,446
3.1
Spain
:
1.4%
1,866 
(2)
Aena
SME
SA
401,862
0.1
52,122 
Amadeus
IT
Group
SA
3,814,154
0.7
55,384 
Industria
de
Diseno
Textil
SA
3,006,272
0.6
7,222,288
1.4
Sweden
:
2.7%
100,019 
Assa
Abloy
AB
-
Class
B
3,064,214
0.6
56,524 
Duni
AB
516,923
0.1
192,423 
Hexagon
AB
-
Class
B
2,227,823
0.4
43,419 
Industrivarden
AB
-
Class
C
1,534,216
0.3
10,329 
L
E
Lundbergforetagen
AB
-
Class
B
497,128
0.1
45,613 
Loomis
AB
1,451,784
0.3
23,626 
Skandinaviska
Enskilda
Banken
AB
-
Class
A
334,881
0.1
127,200 
SKF
AB
-
Class
B
2,569,159
0.5
2,502 
(1)
Spotify
Technology
SA
1,372,472
0.2
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Sweden
(continued)
18,060 
Swedbank
AB
-
Class
A
$
393,228
0.1
13,961,828
2.7
Switzerland
:
4.7%
1,544 
Barry
Callebaut
AG
1,697,279
0.3
10,784 
Cie
Financiere
Richemont
SA
2,084,749
0.4
9,204 
(1)
Galderma
Group
AG
1,118,729
0.2
22,768 
Novartis
AG,
Reg
2,383,282
0.5
3,962 
Partners
Group
Holding
AG
6,018,870
1.2
936 
Sonova
Holding
AG,
Reg
326,555
0.1
1,793 
Swatch
Group
AG
-
Class
BR
332,173
0.1
27,637 
Swiss
Re
AG
4,219,266
0.8
26,040 
Temenos
AG
2,214,357
0.4
4,689 
(2)
VAT
Group
AG
1,801,326
0.3
3,531 
Zurich
Insurance
Group
AG
2,139,661
0.4
24,336,247
4.7
Taiwan
:
2.7%
518,000 
Chailease
Holding
Co.
Ltd.
1,807,467
0.3
26,000 
Lotes
Co.
Ltd.
1,464,911
0.3
168,831 
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
5,634,414
1.1
23,760 
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.,
ADR
4,973,443
1.0
13,880,235
2.7
Thailand
:
0.1%
228,500 
Tisco
Financial
Group
PCL
674,725
0.1
United
Kingdom
:
14.5%
68,011 
Anglo
American
PLC
1,991,436
0.4
14,599 
Ashtead
Group
PLC
951,442
0.2
18,603 
AstraZeneca
PLC
2,611,397
0.5
280,469 
BAE
Systems
PLC
4,239,619
0.8
505,260 
Barclays
PLC
1,851,769
0.4
98,329 
British
American
Tobacco
PLC
3,901,282
0.8
9,053 
Bunzl
PLC
385,355
0.1
83,831 
Diageo
PLC
2,497,352
0.5
35,002 
Diploma
PLC
1,959,851
0.4
335,018 
GSK
PLC
5,835,854
1.1
534,034 
Haleon
PLC
2,489,237
0.5
98,251 
Halma
PLC
3,680,594
0.7
94,841 
Imperial
Brands
PLC
3,198,752
0.6
154,319 
Inchcape
PLC
1,284,728
0.2
19,492 
InterContinental
Hotels
Group
PLC
2,599,080
0.5
632,800 
International
Consolidated
Airlines
Group
SA
-
Class
DI
2,638,815
0.5
49,856 
London
Stock
Exchange
Group
PLC
7,418,943
1.4
873,237 
M&G
PLC
2,249,570
0.4
21,200 
Next
PLC
2,605,675
0.5
52,000 
Nomad
Foods
Ltd.
928,720
0.2
191,841 
Phoenix
Group
Holdings
PLC
1,236,412
0.2
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2025
(Unaudited)
(continued)
4
Voya
Multi-Manager
International
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
United
Kingdom
(continued)
36,127 
Reckitt
Benckiser
Group
PLC
$
2,389,025
0.5
79,498 
RELX
PLC
-
EUR
3,947,291
0.8
14,882 
RELX
PLC
-
GBP
738,985
0.1
269,884 
Schroders
PLC
1,178,580
0.2
35,495 
Shell
PLC
1,165,465
0.2
127,387 
Standard
Chartered
PLC
1,713,287
0.3
62,173 
Unilever
PLC
3,561,071
0.7
54,603 
Unilever
PLC
-
NL
3,125,632
0.6
88,795 
United
Utilities
Group
PLC
1,121,932
0.2
75,497,151
14.5
United
States
:
3.0%
10,441 
Aon
PLC
-
Class
A
3,871,732
0.8
24,657 
BRP,
Inc.
1,179,111
0.2
21,489 
GFL
Environmental,
Inc.
926,820
0.2
22,800 
(1)
Jazz
Pharmaceuticals
PLC
2,835,636
0.6
6,205 
Linde
PLC
US
2,768,175
0.5
58,721 
Smurfit
WestRock
PLC
3,117,498
0.6
8,400 
Tecnoglass,
Inc.
638,400
0.1
15,337,372
3.0
Uruguay
:
0.2%
482 
(1)
MercadoLibre,
Inc.
926,496
0.2
Total
Common
Stock
(Cost
$483,733,640)
511,809,145
98.4
PREFERRED
STOCK
:
0.5%
Germany
:
0.5%
5,257 
(2)
Dr
Ing
hc
F
Porsche
AG
334,708
0.1
3,846 
Henkel
AG
&
Co.
KGaA
336,024
0.1
6,419 
Sartorius
AG
1,852,337
0.3
2,523,069
0.5
Total
Preferred
Stock
(Cost
$2,871,044)
2,523,069
0.5
WARRANTS
:
—%
Canada
:
—%
794 
(3)
Constellation
Software,
Inc.
—
—
Total
Warrants
(Cost
$–)
—
—
Total
Long-Term
Investments
(Cost
$486,604,684)
514,332,214
98.9
Shares
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
0.3%
Mutual
Funds
:
0.3%
1,664,782 
(4)
BlackRock
Liquidity
Funds,
FedFund,
Institutional
Class,
4.260%
(Cost
$1,664,782)
$
1,664,782
0.3
Total
Short-Term
Investments
(Cost
$1,664,782)
$
1,664,782
0.3
Total
Investments
in
Securities
(Cost
$488,269,466)
$
515,996,996
99.2
Assets
in
Excess
of
Other
Liabilities
4,329,514
0.8
Net
Assets
$
520,326,510
100.0
ADR
American
Depositary
Receipt
(1)
Non-income
producing
security.
(2)
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.
(3)
For
fair
value
measurement
disclosure
purposes,
security
is
categorized
as
Level
3,
whose
value
was
determined
using
significant
unobservable
inputs.
(4)
Rate
shown
is
the
7-day
yield
as
of
January
31,
2025.
Sector
Diversification
Percentage
of
Net
Assets
Financials
20.3
%
Industrials
18.5
Information
Technology
13.3
Consumer
Discretionary
12.3
Health
Care
9.2
Consumer
Staples
7.8
Communication
Services
6.7
Materials
5.5
Energy
2.4
Real
Estate
1.6
Utilities
1.3
Short-Term
Investments
0.3
Assets
in
Excess
of
Other
Liabilities
0.8
Net
Assets
100.0%
Portfolio
holdings
are
subject
to
change
daily.
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2025
(Unaudited)
(continued)
5
Voya
Multi-Manager
International
Equity
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
January
31,
2025
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
January
31,
2025
Asset
Table
Investments,
at
fair
value
Common
Stock
Australia
$
—
$
15,085,251
$
—
$
15,085,251
Austria
—
2,306,331
—
2,306,331
Belgium
—
2,305,707
—
2,305,707
Brazil
3,476,825
—
—
3,476,825
Canada
26,704,404
—
—
26,704,404
Chile
3,497,011
—
—
3,497,011
China
3,721,782
9,148,887
—
12,870,669
Denmark
—
4,753,478
—
4,753,478
Finland
—
316,826
—
316,826
France
—
46,675,078
—
46,675,078
Germany
—
53,778,450
—
53,778,450
Hong
Kong
—
14,315,535
—
14,315,535
India
3,192,029
4,464,656
—
7,656,685
Indonesia
—
1,204,907
—
1,204,907
Ireland
5,242,236
3,961,311
—
9,203,547
Israel
4,306,099
—
—
4,306,099
Italy
38,699
8,354,311
—
8,393,010
Japan
—
71,501,697
—
71,501,697
Netherlands
2,824,371
23,301,061
—
26,125,432
New
Zealand
721,155
—
—
721,155
Norway
5,146,348
5,542,723
—
10,689,071
Puerto
Rico
3,064,112
—
—
3,064,112
Russia
—
—
—
—
Singapore
—
12,161,388
—
12,161,388
South
Africa
2,730,689
—
—
2,730,689
South
Korea
1,014,446
15,115,000
—
16,129,446
Spain
—
7,222,288
—
7,222,288
Sweden
1,889,395
12,072,433
—
13,961,828
Switzerland
1,118,729
23,217,518
—
24,336,247
Taiwan
4,973,443
8,906,792
—
13,880,235
Thailand
—
674,725
—
674,725
United
Kingdom
928,720
74,568,431
—
75,497,151
United
States
15,337,372
—
—
15,337,372
Uruguay
926,496
—
—
926,496
Total
Common
Stock
90,854,361
420,954,784
—
511,809,145
Preferred
Stock
336,024
2,187,045
—
2,523,069
Warrants
—
—
—
—
Short-Term
Investments
1,664,782
—
—
1,664,782
Total
Investments,
at
fair
value
$
92,855,167
$
423,141,829
$
—
$
515,996,996
Other
Financial
Instruments+
Forward
Foreign
Currency
Contracts
—
79
—
79
Futures
12,020
—
—
12,020
Total
Assets
$
92,867,187
$
423,141,908
$
—
$
516,009,095
#
The
earlier
close
of
the
foreign
markets
gives
rise
to
the
possibility
that
significant
events,
including
broad
market
moves,
may
have
occurred
in
the
interim
and
may
materially
affect
the
value
of
those
securities.
To
account
for
this,
the
Fund
may
frequently
value
many
of
its
foreign
equity
securities
using
fair
value
prices
based
on
third
party
vendor
modeling
tools
to
the
extent
available.
Accordingly,
a
portion
of
the
Fund’s
investments
are
categorized
as
Level
2
investments.
+
Other
Financial
Instruments
may
include
open
forward
foreign
currency
contracts,
futures,
centrally
cleared
swaps,
OTC
swaps
and
written
options.
Forward
foreign
currency
contracts,
futures
and
centrally
cleared
swaps
are
fair
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
OTC
swaps
and
written
options
are
valued
at
the
fair
value
of
the
instrument.
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2025
(Unaudited)
(continued)
6
Voya
Multi-Manager
International
Equity
Fund
At
January
31,
2025,
the
following
forward
foreign
currency
contracts
were
outstanding
for
Voya
Multi-Manager
International
Equity
Fund:
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
USD
85,907
HKD
669,023
BNP
Paribas
02/03/25
$
45
USD
58,298
HKD
453,988
Royal
Bank
of
Canada
02/04/25
34
$
79
At
January
31,
2025,
the
following
futures
contracts
were
outstanding
for
Voya
Multi-Manager
International
Equity
Fund:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Appreciation
Long
Contracts:
MSCI
EAFE
Index
9
03/21/25
$
1,066,725
$
12,020
$
1,066,725
$
12,020
Currency
Abbreviations:
HKD
—
Hong
Kong
Sar
Dollar
USD
—
United
States
Dollar
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
54,917,137
Gross
Unrealized
Depreciation
(27,189,607)
Net
Unrealized
Appreciation
$
27,727,530