PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
1
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
98.2%
Argentina
:
0.2%
22,874
Cresud
SACIF
y
A,
ADR
$
209,069
0.1
30,233
IRSA
Inversiones
y
Representaciones
SA,
ADR
264,841
0.1
473,910
0.2
Brazil
:
7.9%
59,320
B3
SA
-
Brasil
Bolsa
Balcao
156,609
0.1
471,098
Banco
Bradesco
SA,
ADR
1,460,404
0.6
88,002
Banco
Santander
Brasil
SA,
ADR
503,371
0.2
29,846
BB
Seguridade
Participacoes
SA
207,230
0.1
197,092
(1)(2)
BRF
SA,
ADR
551,858
0.2
44,433
CCR
SA
118,114
0.0
13,896
Energisa
S/A
141,950
0.1
14,258
Equatorial
Energia
SA
102,250
0.0
293,402
Itau
Unibanco
Holding
SA,
ADR
1,936,453
0.8
77,006
Klabin
SA
332,153
0.1
31,113
Petroleo
Brasileiro
SA
266,957
0.1
172,464
Petroleo
Brasileiro
SA
-
Foreign,
ADR
2,943,961
1.2
289,054
Raia
Drogasil
SA
1,476,075
0.6
39,995
Rumo
SA
186,397
0.1
69,376
(1)
Sitios
Latinoamerica
SAB
de
CV
25,878
0.0
40,772
Suzano
SA
426,039
0.2
19,190
Telefonica
Brasil
SA
198,702
0.1
106,964
Telefonica
Brasil
SA,
ADR
1,103,868
0.5
289,517
TIM
SA/Brazil
1,017,961
0.4
99,070
Ultrapar
Participacoes
SA
563,498
0.2
182,970
Vale
SA,
ADR
2,504,859
1.0
30,653
Vale
SA
-
Foreign
420,656
0.2
72,734
Vibra
Energia
SA
349,400
0.1
98,152
XP,
Inc.
-
Class
A
2,412,576
1.0
19,407,219
7.9
Chile
:
0.6%
126,906
Cencosud
SA
220,850
0.1
61,061
Empresas
CMPC
SA
99,492
0.0
19,892
Empresas
Copec
SA
126,461
0.0
2,167,581
Enel
Chile
SA
130,293
0.1
22,259
(2)
Sociedad
Quimica
y
Minera
de
Chile
SA,
ADR
936,436
0.4
1,513,532
0.6
China
:
16.5%
488,200
Alibaba
Group
Holding
Ltd.
4,378,655
1.8
12,026
(1)
Baidu,
Inc.,
ADR
1,266,458
0.5
3,538
(1)
BeiGene
Ltd.,
ADR
524,438
0.2
4,500
BYD
Co.
Ltd.
-
Class
H
100,756
0.0
1,451,000
(3)
CGN
Power
Co.
Ltd.
-
Class
H
406,606
0.2
236,000
China
Communications
Services
Corp.
Ltd.
-
Class
H
97,177
0.0
142,000
China
Life
Insurance
Co.
Ltd.
-
Class
H
163,704
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
744,104
China
Mengniu
Dairy
Co.
Ltd.
$
1,648,726
0.7
1,579,650
China
Petroleum
&
Chemical
Corp.
-
Class
H
821,739
0.3
275,000
China
Railway
Group
Ltd.
-
Class
H
125,768
0.1
376,000
(3)
China
Railway
Signal
&
Communication
Corp.
Ltd.
-
Class
H
133,959
0.1
198,000
CRRC
Corp.
Ltd.
-
Class
H
92,029
0.0
162,800
CSPC
Pharmaceutical
Group
Ltd.
119,770
0.0
20,875
(1)
DiDi
Global,
Inc.,
ADR
73,062
0.0
11,900
ENN
Energy
Holdings
Ltd.
88,582
0.0
481,838
H
World
Group
Ltd.
1,510,288
0.6
50,600
Haier
Smart
Home
Co.
Ltd.
-
Class
H
142,979
0.1
266,000
Hengan
International
Group
Co.
Ltd.
823,667
0.3
91,100
Inner
Mongolia
Yitai
Coal
Co.
Ltd.
-
Class
B
172,326
0.1
90,000
(1)(3)
Innovent
Biologics,
Inc.
362,602
0.1
33,145
(1)
iQIYI,
Inc.,
ADR
111,036
0.0
216,961
JD.com,
Inc.
-
Class
A
2,446,482
1.0
90,000
Jiangxi
Copper
Co.
Ltd.
-
Class
H
125,868
0.1
17,800
Kweichow
Moutai
Co.
Ltd.
-
Class
A
3,984,147
1.6
26,480
(1)(3)
Meituan
-
Class
B
212,985
0.1
6,600
NetEase,
Inc.
128,292
0.1
671,000
People's
Insurance
Co.
Group
of
China
Ltd.
-
Class
H
208,599
0.1
2,520,000
PetroChina
Co.
Ltd.
-
Class
H
1,822,882
0.7
116,000
PICC
Property
&
Casualty
Co.
Ltd.
-
Class
H
144,288
0.1
1,485,857
Shandong
Weigao
Group
Medical
Polymer
Co.
Ltd.
-
Class
H
952,186
0.4
165,500
Shenzhen
International
Holdings
Ltd.
136,206
0.1
23,457
Shenzhen
Mindray
Bio-
Medical
Electronics
Co.
Ltd.
-
Class
A
878,168
0.4
73,200
Sinopharm
Group
Co.
Ltd.
-
Class
H
192,478
0.1
23,002
(1)
Sohu.com
Ltd.,
ADR
220,819
0.1
169,296
Tencent
Holdings
Ltd.
5,876,488
2.4
632,000
Tingyi
Cayman
Islands
Holding
Corp.
629,307
0.3
159,000
(3)
Topsports
International
Holdings
Ltd.
103,061
0.0
32,029
(1)
Trip.com
Group
Ltd.,
ADR
1,170,980
0.5
122,000
Tsingtao
Brewery
Co.
Ltd.
-
Class
H
696,220
0.3
1,344,600
Uni-President
China
Holdings
Ltd.
755,293
0.3
28,601
Weibo
Corp.,
ADR
231,668
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
2
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
China
(continued)
10,440
(2)
Weibo
Corp.
-
Class
A
$
83,514
0.0
185,200
Wuliangye
Yibin
Co.
Ltd.
-
Class
A
3,269,104
1.3
368,400
Yangzijiang
Shipbuilding
Holdings
Ltd.
459,918
0.2
70,390
Yum
China
Holdings,
Inc.
2,421,833
1.0
40,315,113
16.5
Colombia
:
0.0%
164,813
Ecopetrol
SA
98,829
0.0
France
:
0.8%
3,853
L'Oreal
SA
1,843,862
0.8
Germany
:
0.5%
6,372
adidas
AG
1,202,952
0.5
Greece
:
0.6%
6,938
GEK
Terna
Holding
Real
Estate
Construction
SA
104,520
0.1
7,280
Hellenic
Telecommunications
Organization
SA
101,081
0.0
11,018
Helleniq
Energy
Holdings
SA
88,369
0.0
5,299
Jumbo
SA
148,892
0.1
7,748
Motor
Oil
Hellas
Corinth
Refineries
SA
211,675
0.1
12,817
Mytilineos
SA
526,349
0.2
15,197
OPAP
SA
263,102
0.1
1,443,988
0.6
Hong
Kong
:
2.3%
338,868
AIA
Group
Ltd.
2,657,545
1.1
75,000
Beijing
Enterprises
Holdings
Ltd.
271,449
0.1
1,073,685
(3)
Budweiser
Brewing
Co.
APAC
Ltd.
1,692,281
0.7
898,000
Kunlun
Energy
Co.
Ltd.
804,516
0.3
197,000
Want
Want
China
Holdings
Ltd.
108,605
0.1
5,534,396
2.3
Hungary
:
0.3%
64,503
MOL
Hungarian
Oil
&
Gas
PLC
528,637
0.2
11,928
Richter
Gedeon
Nyrt
321,992
0.1
850,629
0.3
India
:
16.2%
18,949
Ambuja
Cements
Ltd.
127,533
0.0
31,278
Asian
Paints
Ltd.
1,111,043
0.5
2,444
Bajaj
Auto
Ltd.
225,931
0.1
13,410
Bajaj
Finance
Ltd.
1,109,966
0.5
84,249
Bharat
Electronics
Ltd.
188,698
0.1
80,325
Bharat
Petroleum
Corp.
Ltd.
486,854
0.2
2,920
Britannia
Industries
Ltd.
182,634
0.1
11,918
Cipla
Ltd./India
193,837
0.1
110,702
Coal
India
Ltd.
542,037
0.2
2,719
Coforge
Ltd.
204,400
0.1
7,040
Colgate-Palmolive
India
Ltd.
218,029
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
India
(continued)
8,242
Coromandel
International
Ltd.
$
104,214
0.0
7,383
Cummins
India
Ltd.
203,985
0.1
2,280
Divi's
Laboratories
Ltd.
100,788
0.0
5,341
Dr
Reddy's
Laboratories
Ltd.
392,440
0.2
2,470
Eicher
Motors
Ltd.
114,339
0.0
47,812
Exide
Industries
Ltd.
192,962
0.1
187,240
GAIL
India
Ltd.
389,607
0.2
83,268
HCL
Technologies
Ltd.
1,579,236
0.6
3,621
(3)
HDFC
Asset
Management
Co.
Ltd.
156,195
0.1
48,000
HDFC
Bank
Ltd.
844,122
0.3
65,941
HDFC
Bank
Ltd.,
ADR
3,659,066
1.5
6,610
Hero
MotoCorp
Ltd.
367,987
0.1
40,469
Hindalco
Industries
Ltd.
281,849
0.1
4,604
Hindustan
Aeronautics
Ltd.
166,607
0.1
357,341
Indian
Oil
Corp.
Ltd.
632,804
0.3
20,479
Indraprastha
Gas
Ltd.
106,240
0.0
65,852
Infosys
Ltd.
1,312,837
0.5
155,976
Infosys
Ltd.
-
Foreign,
ADR
3,097,683
1.3
3,705
(1)(3)
InterGlobe
Aviation
Ltd.
132,128
0.1
20,558
ITC
Ltd.
109,288
0.0
12,239
Jindal
Steel
&
Power
Ltd.
111,625
0.0
12,800
JSW
Steel
Ltd.
126,033
0.0
5,566
Larsen
&
Toubro
Ltd.
233,022
0.1
1,568
(3)
LTIMindtree
Ltd.
102,702
0.0
8,088
Mahindra
&
Mahindra
Ltd.
160,830
0.1
1,165
Maruti
Suzuki
India
Ltd.
142,889
0.1
3,348
Mphasis
Ltd.
104,619
0.0
155
MRF
Ltd.
265,783
0.1
5,493
Nestle
India
Ltd.
165,694
0.1
113,358
NMDC
Ltd.
300,125
0.1
104,156
NTPC
Ltd.
398,777
0.2
159,407
Oil
&
Natural
Gas
Corp.
Ltd.
484,233
0.2
29,611
Oil
India
Ltd.
152,062
0.1
1,941
Oracle
Financial
Services
Software
Ltd.
152,369
0.1
2,098
Persistent
Systems
Ltd.
210,559
0.1
101,022
Petronet
LNG
Ltd.
327,489
0.1
2,236
PI
Industries
Ltd.
90,865
0.0
8,288
Piramal
Enterprises
Ltd.
91,438
0.0
96,915
Power
Grid
Corp.
of
India
Ltd.
302,699
0.1
18,145
Rajesh
Exports
Ltd.
79,821
0.0
312,231
Reliance
Industries
Ltd.
10,727,173
4.4
373,918
(1)
Reliance
Strategic
Investments
Ltd.
1,116,411
0.5
11,845
Sun
Pharmaceutical
Industries
Ltd.
202,359
0.1
2,641
Supreme
Industries
Ltd.
131,396
0.1
4,505
Tata
Communications
Ltd.
94,238
0.0
46,796
Tata
Consultancy
Services
Ltd.
2,149,393
0.9
104,516
Tata
Consumer
Products
Ltd.
1,407,476
0.6
18,807
Tata
Motors
Ltd.
200,160
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
3
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
India
(continued)
146,766
Tata
Steel
Ltd.
$
240,330
0.1
20,792
Tech
Mahindra
Ltd.
333,100
0.1
1,702
UltraTech
Cement
Ltd.
208,107
0.1
60,938
Vedanta
Ltd.
201,195
0.1
13,154
Zydus
Lifesciences
Ltd.
120,380
0.0
39,670,691
16.2
Indonesia
:
2.0%
4,649,100
Astra
International
Tbk
PT
1,506,497
0.6
4,022,792
Bank
Central
Asia
Tbk
PT
2,433,895
1.0
259,800
Bank
Mandiri
Persero
Tbk
PT
109,380
0.1
227,700
Indofood
Sukses
Makmur
Tbk
PT
92,004
0.0
572,100
Sumber
Alfaria
Trijaya
Tbk
PT
96,018
0.0
691,400
Telkom
Indonesia
Persero
Tbk
PT
173,422
0.1
1,527,900
Unilever
Indonesia
Tbk
PT
300,158
0.1
80,600
United
Tractors
Tbk
PT
117,080
0.1
4,828,454
2.0
Japan
:
1.3%
11,727
Fast
Retailing
Co.
Ltd.
3,130,839
1.3
Kuwait
:
0.1%
13,522
Humansoft
Holding
Co.
KSC
150,963
0.1
58,995
Mobile
Telecommunications
Co.
KSCP
100,827
0.0
251,790
0.1
Malaysia
:
0.6%
190,700
Axiata
Group
Bhd
109,874
0.0
96,300
CIMB
Group
Holdings
Bhd
126,841
0.1
142,100
Gamuda
Bhd
151,714
0.1
36,400
Kuala
Lumpur
Kepong
Bhd
170,701
0.1
62,100
Petronas
Chemicals
Group
Bhd
88,760
0.0
23,600
Petronas
Dagangan
Bhd
106,474
0.0
31,800
Petronas
Gas
Bhd
119,267
0.1
194,700
Sime
Darby
Bhd
99,898
0.0
87,800
Tenaga
Nasional
Bhd
198,989
0.1
216,287
UEM
Sunrise
Bhd
46,856
0.0
435,400
YTL
Corp.
Bhd
214,658
0.1
1,434,032
0.6
Mexico
:
8.0%
169,030
Alfa
SAB
de
CV
-
Class
A
132,187
0.1
29,515
(1)
Alsea
SAB
de
CV
115,803
0.0
72,276
America
Movil
SAB
de
CV
-
Foreign,
ADR
1,304,582
0.5
14,929
Arca
Continental
SAB
de
CV
169,730
0.1
599,351
(1)
Cemex
SAB
de
CV
496,920
0.2
130,721
(1)
Cemex
SAB
de
CV
-
Foreign,
ADR
1,082,370
0.4
39,431
Coca-Cola
Femsa
SAB
de
CV
374,757
0.2
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Mexico
(continued)
10,545
Coca-Cola
Femsa
SAB
de
CV
-
Foreign,
ADR
$
1,001,142
0.4
57,855
Corp
Inmobiliaria
Vesta
SAB
de
CV
219,837
0.1
18,393
El
Puerto
de
Liverpool
SAB
de
CV
-
Class
C1
129,018
0.1
308,016
Fibra
Uno
Administracion
SA
de
CV
523,098
0.2
40,445
Fomento
Economico
Mexicano
SAB
de
CV
547,687
0.2
43,088
Fomento
Economico
Mexicano
SAB
de
CV
-
Foreign,
ADR
5,840,147
2.4
14,357
GCC
SAB
de
CV
166,714
0.1
11,365
Gruma
SAB
de
CV
-
Class
B
212,621
0.1
17,592
Grupo
Aeroportuario
del
Centro
Norte
SAB
de
CV
160,788
0.1
15,648
Grupo
Aeroportuario
del
Pacifico
SAB
de
CV
-
Class
B
243,655
0.1
8,431
Grupo
Aeroportuario
del
Sureste
SAB
de
CV
-
Class
B
245,408
0.1
69,146
Grupo
Bimbo
SAB
de
CV
314,404
0.1
80,763
Grupo
Comercial
Chedraui
SA
de
CV
546,334
0.2
167,385
Grupo
Financiero
Banorte
SAB
de
CV
-
Class
O
1,702,004
0.7
19,880
Grupo
Mexico
SAB
de
CV
102,475
0.0
190,189
Grupo
Televisa
SAB,
ADR
572,469
0.2
52,638
Kimberly-Clark
de
Mexico
SAB
de
CV
-
Class
A
119,519
0.0
72,792
Orbia
Advance
Corp.
SAB
de
CV
144,895
0.1
44,409
Prologis
Property
Mexico
SA
de
CV
182,678
0.1
18,208
Promotora
y
Operadora
de
Infraestructura
SAB
de
CV
179,208
0.1
662,299
Wal-Mart
de
Mexico
SAB
de
CV
2,735,545
1.1
19,565,995
8.0
Netherlands
:
1.0%
21,748
Heineken
NV
2,187,742
0.9
23,710
NEPI
Rockcastle
NV
159,666
0.1
2,347,408
1.0
Peru
:
0.8%
80,307
Cia
de
Minas
Buenaventura
SAA,
ADR
1,218,257
0.5
4,670
Credicorp
Ltd.
693,168
0.3
1,911,425
0.8
Philippines
:
0.2%
589,100
DMCI
Holdings,
Inc.
112,389
0.1
45,350
International
Container
Terminal
Services,
Inc.
196,094
0.1
16,100
Manila
Electric
Co.
103,597
0.0
412,080
0.2
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
4
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Qatar
:
0.1%
35,433
Ooredoo
QPSC
$
104,129
0.0
45,107
Qatar
Fuel
QSC
194,273
0.1
298,402
0.1
Romania
:
0.1%
2,375,021
OMV
Petrom
SA
299,199
0.1
Russia
:
0.1%
164,710
(4)
Alrosa
PJSC
—
—
951,000
(1)(3)(4)
Detsky
Mir
PJSC
—
—
1,037,141
(1)(4)
Gazprom
PJSC
—
—
25,468
(4)
Lukoil
PJSC
—
—
14,210
(4)
Magnit
PJSC
—
—
271,070
(1)(4)
Magnitogorsk
Iron
&
Steel
Works
PJSC
—
—
1,179
(4)
MMC
Norilsk
Nickel
PJSC
—
—
91,474
(4)
Mobile
TeleSystems
PJSC
—
—
83,570
(1)(4)
Novolipetsk
Steel
PJSC
—
—
4,078
(4)
PhosAgro
PJSC
—
—
453,015
(4)
Rosneft
Oil
Co.
PJSC
—
—
1,076,340
(4)
Sberbank
of
Russia
PJSC
—
—
16,184
(1)(4)
Severstal
PAO
—
—
34,543
(4)
Tatneft
PJSC
—
—
25,031
(1)(4)
Yandex
NV
-
Class
A
356,125
0.1
356,125
0.1
Saudi
Arabia
:
0.4%
34,409
Abdullah
Al
Othaim
Markets
Co.
125,818
0.1
1,869
Bupa
Arabia
for
Cooperative
Insurance
Co.
102,906
0.0
12,880
Etihad
Etisalat
Co.
178,941
0.1
25,434
Jarir
Marketing
Co.
103,361
0.0
3,959
SABIC
Agri-Nutrients
Co.
134,985
0.1
3,335
Saudi
Airlines
Catering
Co.
102,449
0.0
15,509
Saudi
Telecom
Co.
168,763
0.1
1,154
Saudia
Dairy
&
Foodstuff
Co.
110,781
0.0
1,028,004
0.4
South
Africa
:
1.6%
13,625
Bid
Corp.
Ltd.
330,486
0.1
9,775
Bidvest
Group
Ltd.
128,870
0.0
8,070
Clicks
Group
Ltd.
129,715
0.0
9,869
Gold
Fields
Ltd.
145,620
0.1
48,233
MTN
Group
Ltd.
246,131
0.1
178,584
OUTsurance
Group
Ltd.
399,185
0.2
45,372
Remgro
Ltd.
382,169
0.2
486,905
Sanlam
Ltd.
1,857,638
0.8
16,817
Tiger
Brands
Ltd.
188,519
0.1
29,971
Woolworths
Holdings
Ltd./
South
Africa
111,047
0.0
3,919,380
1.6
South
Korea
:
15.8%
2,109
(1)
DB
Insurance
Co.
Ltd.
139,122
0.1
3,388
Doosan
Bobcat,
Inc.
129,029
0.0
4,409
Hana
Financial
Group,
Inc.
157,655
0.1
2,416
HD
Hyundai
Co.
Ltd.
128,772
0.0
1,347
(1)
Hyundai
Glovis
Co.
Ltd.
176,380
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
South
Korea
(continued)
2,322
Hyundai
Mobis
Co.
Ltd.
$
363,982
0.1
1,509
Hyundai
Motor
Co.
219,484
0.1
4,073
(1)
Hyundai
Steel
Co.
101,994
0.0
26,369
(1)
Kakao
Corp.
1,031,181
0.4
3,669
KB
Financial
Group,
Inc.
155,704
0.1
8,123
(1)
Kia
Corp.
623,936
0.3
9,640
(1)
Korean
Air
Lines
Co.
Ltd.
162,077
0.1
4,117
KT&G
Corp.
279,603
0.1
3,343
LG
Electronics,
Inc.
233,022
0.1
108,469
LG
Uplus
Corp.
830,469
0.3
2,703
(1)
Lotte
Corp.
58,714
0.0
582
(1)
Lotte
Wellfood
Co.
Ltd.
55,375
0.0
13,915
(1)
NAVER
Corp.
2,075,035
0.8
860
POSCO
Holdings,
Inc.
272,861
0.1
2,887
Samsung
C&T
Corp.
298,240
0.1
1,369
Samsung
Electro-
Mechanics
Co.
Ltd.
142,377
0.1
180,141
Samsung
Electronics
Co.
Ltd.
9,788,293
4.0
9,408
(1)
Samsung
Engineering
Co.
Ltd.
156,921
0.1
795
(1)
Samsung
Fire
&
Marine
Insurance
Co.
Ltd.
157,314
0.1
28,390
Samsung
Life
Insurance
Co.
Ltd.
1,475,304
0.6
1,751
Samsung
SDS
Co.
Ltd.
199,125
0.1
41,884
Shinhan
Financial
Group
Co.
Ltd.
1,283,329
0.5
70,675
SK
Hynix,
Inc.
7,077,443
2.9
169,294
(1)
SK
Square
Co.
Ltd.
6,576,765
2.7
111,890
SK
Telecom
Co.
Ltd.
4,206,913
1.7
12,666
Woori
Financial
Group,
Inc.
131,326
0.1
38,687,745
15.8
Taiwan
:
14.3%
8,000
Accton
Technology
Corp.
134,580
0.1
249,000
Acer,
Inc.
365,680
0.1
18,471
Advantech
Co.
Ltd.
199,103
0.1
154,000
ASE
Technology
Holding
Co.
Ltd.
665,861
0.3
74,000
Asia
Cement
Corp.
93,841
0.0
17,000
Asustek
Computer,
Inc.
241,388
0.1
22,000
Catcher
Technology
Co.
Ltd.
136,702
0.1
132,000
Chicony
Electronics
Co.
Ltd.
692,106
0.3
136,000
China
Steel
Corp.
108,981
0.0
52,000
Chunghwa
Telecom
Co.
Ltd.
197,127
0.1
693,000
Compal
Electronics,
Inc.
794,772
0.3
156,000
CTBC
Financial
Holding
Co.
Ltd.
141,525
0.1
34,000
Delta
Electronics,
Inc.
304,252
0.1
10,000
Eclat
Textile
Co.
Ltd.
174,533
0.1
166,000
Far
Eastern
New
Century
Corp.
163,783
0.1
54,000
Far
EasTone
Telecommunications
Co.
Ltd.
138,608
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
5
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Taiwan
(continued)
27,000
Feng
TAY
Enterprise
Co.
Ltd.
$
139,213
0.1
979,000
(1)(3)
FIT
Hon
Teng
Ltd.
117,017
0.0
72,000
Formosa
Chemicals
&
Fibre
Corp.
129,987
0.1
87,000
Formosa
Plastics
Corp.
199,930
0.1
124,000
Foxconn
Technology
Co.
Ltd.
199,684
0.1
11,000
Gigabyte
Technology
Co.
Ltd.
108,852
0.0
117,000
Hon
Hai
Precision
Industry
Co.
Ltd.
382,733
0.2
262,000
Inventec
Corp.
460,156
0.2
4,000
Largan
Precision
Co.
Ltd.
317,139
0.1
106,000
Lite-On
Technology
Corp.
367,090
0.1
230,000
MediaTek,
Inc.
7,097,254
2.9
71,000
Micro-Star
International
Co.
Ltd.
411,802
0.2
118,000
Nan
Ya
Plastics
Corp.
228,685
0.1
35,000
Novatek
Microelectronics
Corp.
570,140
0.2
186,000
Pegatron
Corp.
490,328
0.2
288,000
Pou
Chen
Corp.
289,926
0.1
105,000
Powertech
Technology,
Inc.
487,483
0.2
13,000
President
Chain
Store
Corp.
109,608
0.0
19,000
Quanta
Computer,
Inc.
150,233
0.1
20,000
Realtek
Semiconductor
Corp.
299,308
0.1
25,000
Sino-American
Silicon
Products,
Inc.
152,861
0.1
234,000
Taishin
Financial
Holding
Co.
Ltd.
128,188
0.0
44,000
Taiwan
Mobile
Co.
Ltd.
137,537
0.1
747,000
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
14,953,819
6.1
141,000
Teco
Electric
and
Machinery
Co.
Ltd.
206,793
0.1
22,000
Unimicron
Technology
Corp.
123,426
0.0
133,000
Uni-President
Enterprises
Corp.
307,348
0.1
507,000
United
Microelectronics
Corp.
789,733
0.3
44,000
Vanguard
International
Semiconductor
Corp.
103,240
0.0
155,000
Wistron
Corp.
567,505
0.2
2,000
Wiwynn
Corp.
141,002
0.1
54,000
Zhen
Ding
Technology
Holding
Ltd.
173,845
0.1
34,894,707
14.3
Thailand
:
1.8%
31,200
Advanced
Info
Service
PCL
192,422
0.1
173,400
Bangkok
Dusit
Medical
Services
PCL
-
Foreign
-
Class
F
134,409
0.1
21,800
Bumrungrad
Hospital
PCL
-
Foreign
147,491
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Thailand
(continued)
1,915,571
CP
ALL
PCL
-
Foreign
$
2,819,916
1.2
404,200
Land
&
Houses
PCL
-
Foreign
87,216
0.0
127,300
Minor
International
PCL
109,450
0.0
43,900
PTT
Exploration
&
Production
PCL
-
Foreign
Shares
185,272
0.1
332,500
PTT
PCL
-
Foreign
315,635
0.1
16,100
Siam
Cement
PCL
-
Foreign
122,549
0.0
104,300
Thai
Oil
PCL
-
Foreign
160,464
0.1
4,274,824
1.8
Turkey
:
0.5%
595,165
Akbank
TAS
774,732
0.3
12,272
BIM
Birlesik
Magazalar
AS
153,890
0.1
3,919
(1)
D-MARKET
Elektronik
Hizmetler
ve
Ticaret
AS,
ADR
6,153
0.0
48,742
Turkcell
Iletisim
Hizmetleri
AS
110,109
0.0
43,887
Turkiye
Petrol
Rafinerileri
AS
216,225
0.1
1,261,109
0.5
United
Arab
Emirates
:
0.4%
279,852
Air
Arabia
PJSC
226,780
0.1
77,246
Aldar
Properties
PJSC
107,258
0.1
85,808
Emaar
Development
PJSC
162,377
0.1
138,136
Emaar
Properties
PJSC
279,293
0.1
129,232
(1)
Multiply
Group
PJSC
101,475
0.0
877,183
0.4
United
Kingdom
:
1.0%
5,681
Anglogold
Ashanti
PLC
101,662
0.0
342,800
(4)
Fix
Price
Group
PLC,
GDR
—
—
48,090
Unilever
PLC,
ADR
2,341,502
1.0
2,443,164
1.0
United
States
:
1.3%
35,865
Micron
Technology,
Inc.
3,075,424
1.3
Uruguay
:
0.9%
1,282
(1)
MercadoLibre,
Inc.
2,194,540
0.9
Total
Common
Stock
(Cost
$254,709,941)
239,846,950
98.2
PREFERRED
STOCK
:
1.0%
Brazil
:
0.8%
34,461
Bradespar
SA
158,449
0.0
88,638
Cia
Energetica
de
Minas
Gerais
206,459
0.1
136,267
Gerdau
SA
579,514
0.2
256,178
Itausa
SA
519,140
0.2
96,328
Metalurgica
Gerdau
SA
193,263
0.1
50,888
Petroleo
Brasileiro
SA
418,555
0.2
2,075,380
0.8
Chile
:
0.1%
50,393
Embotelladora
Andina
SA
128,394
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
6
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Shares
RA
Value
Percentage
of
Net
Assets
PREFERRED
STOCK:
(continued)
Russia
:
—%
378
(4)
AK
Transneft
PJSC
OAO
$
—
—
863,754
(4)
Surgutneftegas
PJSC
—
—
217
(4)
Transneft
PJSC
—
—
—
—
South
Korea
:
0.1%
3,851
Samsung
Electronics
Co.
Ltd.
168,504
0.1
Total
Preferred
Stock
(Cost
$4,102,931)
2,372,278
1.0
WARRANTS
:
0.0%
United
States
:
0.0%
38,283
(1)
IRSA
Inversiones
y
Representaciones
SA
23,735
0.0
Total
Warrants
(Cost
$–)
23,735
0.0
Total
Long-Term
Investments
(Cost
$258,812,872)
242,242,963
99.2
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
1.0%
Repurchase
Agreements
:
0.4%
919,827
(5)
Deutsche
Bank
Securities
Inc.,
Repurchase
Agreement
dated
01/31/2024,
5.320%,
due
02/01/2024
(Repurchase
Amount
$919,961,
collateralized
by
various
U.S.
Government
Agency
Obligations,
2.000%-6.000%,
Market
Value
plus
accrued
interest
$938,224,
due
09/15/39-10/20/62)
919,827
0.4
Total
Repurchase
Agreements
(Cost
$919,827)
919,827
0.4
Shares
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
(continued)
Mutual
Funds
:
0.6%
1,167,227
(6)
BlackRock
Liquidity
Funds,
FedFund,
Institutional
Class,
5.220%
$
1,167,227
0.5
393,000
(6)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
5.210%
393,000
0.1
Total
Mutual
Funds
(Cost
$1,560,227)
1,560,227
0.6
Total
Short-Term
Investments
(Cost
$2,480,054)
2,480,054
1.0
Total
Investments
in
Securities
(Cost
$261,292,926)
$
244,723,017
100.2
Liabilities
in
Excess
of
Other
Assets
(467,888)
(0.2)
Net
Assets
$
244,255,129
100.0
ADR
American
Depositary
Receipt
GDR
Global
Depositary
Receipt
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(1)
Non-income
producing
security.
(2)
Security,
or
a
portion
of
the
security,
is
on
loan.
(3)
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.
(4)
For
fair
value
measurement
disclosure
purposes,
security
is
categorized
as
Level
3,
whose
value
was
determined
using
significant
unobservable
inputs.
(5)
All
or
a
portion
of
the
security
represents
securities
purchased
with
cash
collateral
received
for
securities
on
loan.
(6)
Rate
shown
is
the
7-day
yield
as
of
January
31,
2024.
Sector
Diversification
Percentage
of
Net
Assets
Information
Technology
25.3
%
Consumer
Staples
17.1
Financials
12.1
Consumer
Discretionary
10.0
Energy
9.5
Communication
Services
9.3
Industrials
5.9
Materials
5.7
Health
Care
1.9
Utilities
1.6
Real
Estate
0.8
Warrants
0.0
Short-Term
Investments
1.0
Liabilities
in
Excess
of
Other
Assets
(0.2)
Net
Assets
100.0%
Portfolio
holdings
are
subject
to
change
daily.
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
7
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
January
31,
2024
in
valuing
the
assets
and
liabilities:
Quoted
Prices
in
Active
Markets
for
Identical
Investments
(Level
1)
Significant
Other
Observable
Inputs
#
(Level
2)
Significant
Unobservable
Inputs
(Level
3)
Fair
Value
at
January
31,
2024
Asset
Table
Investments,
at
fair
value
Common
Stock
Argentina
$
473,910
$
—
$
—
$
473,910
Brazil
19,407,219
—
—
19,407,219
Chile
1,513,532
—
—
1,513,532
China
4,550,647
35,764,466
—
40,315,113
Colombia
98,829
—
—
98,829
France
—
1,843,862
—
1,843,862
Germany
—
1,202,952
—
1,202,952
Greece
1,254,538
189,450
—
1,443,988
Hong
Kong
108,605
5,425,791
—
5,534,396
Hungary
850,629
—
—
850,629
India
6,756,749
32,913,942
—
39,670,691
Indonesia
300,158
4,528,296
—
4,828,454
Japan
—
3,130,839
—
3,130,839
Kuwait
150,963
100,827
—
251,790
Malaysia
576,444
857,588
—
1,434,032
Mexico
19,565,995
—
—
19,565,995
Netherlands
159,666
2,187,742
—
2,347,408
Peru
1,911,425
—
—
1,911,425
Philippines
112,389
299,691
—
412,080
Qatar
104,129
194,273
—
298,402
Romania
299,199
—
—
299,199
Russia
—
—
356,125
356,125
Saudi
Arabia
495,532
532,472
—
1,028,004
South
Africa
3,773,760
145,620
—
3,919,380
South
Korea
—
38,687,745
—
38,687,745
Taiwan
—
34,894,707
—
34,894,707
Thailand
—
4,274,824
—
4,274,824
Turkey
116,262
1,144,847
—
1,261,109
United
Arab
Emirates
107,258
769,925
—
877,183
United
Kingdom
2,341,502
101,662
—
2,443,164
United
States
3,075,424
—
—
3,075,424
Uruguay
2,194,540
—
—
2,194,540
Total
Common
Stock
70,299,304
169,191,521
356,125
239,846,950
Preferred
Stock
2,203,774
168,504
—
2,372,278
Warrants
23,735
—
—
23,735
Short-Term
Investments
1,560,227
919,827
—
2,480,054
Total
Investments,
at
fair
value
$
74,087,040
$
170,279,852
$
356,125
$
244,723,017
Other
Financial
Instruments+
Forward
Foreign
Currency
Contracts
—
194
—
194
Total
Assets
$
74,087,040
$
170,280,046
$
356,125
$
244,723,211
Liabilities
Table
Other
Financial
Instruments+
Futures
$
(16,173)
$
—
$
—
$
(16,173)
Total
Liabilities
$
(16,173)
$
—
$
—
$
(16,173)
#
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,
2024
(Unaudited)
(continued)
8
Voya
Multi-Manager
Emerging
Markets
Equity
Fund
At
January
31,
2024,
the
following
forward
foreign
currency
contracts
were
outstanding
for
Voya
Multi-Manager
Emerging
Markets
Equity
Fund:
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
USD
29,527
ZAR
549,327
The
Bank
of
New
York
Mellon
02/05/24
$
194
$
194
At
January
31,
2024,
the
following
futures
contracts
were
outstanding
for
Voya
Multi-Manager
Emerging
Markets
Equity
Fund:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Depreciation
Long
Contracts:
MSCI
Emerging
Markets
Index
24
03/15/24
$
1,176,960
$
(16,173)
$
1,176,960
$
(16,173)
Net
unrealized
depreciation
consisted
of:
Gross
Unrealized
Appreciation
$
30,543,161
Gross
Unrealized
Depreciation
(47,113,069)
Net
Unrealized
Depreciation
$
(16,569,908)