PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
1
Voya
Multi-Manager
International Factors Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
98.0%
Australia
:
6.4%
46,265
Ampol
Ltd.
$
1,094,286
0.3
29,802
ANZ
Group
Holdings
Ltd.
525,839
0.1
45,655
BHP
Group
Ltd.
-
Class
DI
1,396,774
0.4
69,182
BlueScope
Steel
Ltd.
1,056,295
0.3
178,518
Brambles
Ltd.
1,702,132
0.5
3,129
Cochlear
Ltd.
620,949
0.2
81,648
Coles
Group
Ltd.
847,294
0.2
18,675
Commonwealth
Bank
of
Australia
1,424,055
0.4
28,574
Computershare
Ltd.
473,280
0.1
642
CSL
Ltd.
126,075
0.0
66,027
CSR
Ltd.
297,319
0.1
21,317
Fortescue
Metals
Group
Ltd.
411,990
0.1
51,823
Goodman
Group
860,221
0.2
3,750
HUB24
Ltd.
90,623
0.0
183,237
Insurance
Australia
Group
Ltd.
719,285
0.2
15,684
JB
Hi-Fi
Ltd.
583,485
0.2
83,510
Lottery
Corp.
Ltd.
274,113
0.1
561,206
Medibank
Pvt
Ltd.
1,405,063
0.4
7,572
Orica
Ltd.
79,861
0.0
258,721
(1)
Qantas
Airways
Ltd.
932,786
0.3
119,619
QBE
Insurance
Group
Ltd.
1,231,670
0.4
14,934
Rio
Tinto
Ltd.
1,285,035
0.4
51,185
Santos
Ltd.
258,687
0.1
23,572
Sonic
Healthcare
Ltd.
491,482
0.1
72,150
Steadfast
Group
Ltd.
279,176
0.1
36,785
Suncorp
Group
Ltd.
338,590
0.1
27,248
Super
Retail
Group
Ltd.
281,205
0.1
386,414
Telstra
Group
Ltd.
1,019,105
0.3
32,260
Wesfarmers
Ltd.
1,221,268
0.3
15,936
Woodside
Energy
Group
Ltd.
(WDS)
333,322
0.1
41,048
Woolworths
Group
Ltd.
964,014
0.3
22,625,279
6.4
Austria
:
0.1%
2,674
Andritz
AG
164,617
0.0
8,202
voestalpine
AG
244,023
0.1
408,640
0.1
Belgium
:
0.3%
8,541
Solvay
SA
233,582
0.1
8,541
(1)
Syensqo
SA
761,401
0.2
994,983
0.3
Brazil
:
0.3%
57,100
Ambev
SA
150,864
0.0
80,700
BB
Seguridade
Participacoes
SA
560,326
0.2
39,500
Telefonica
Brasil
SA
409,000
0.1
1,120,190
0.3
Canada
:
4.9%
26,417
Alimentation
Couche-Tard,
Inc.
1,547,942
0.4
37,936
ARC
Resources
Ltd.
589,165
0.2
2,954
Atco
Ltd./Canada
-
Class
I
82,614
0.0
14,979
Brookfield
Asset
Management
Ltd.
-
Class
A
602,302
0.2
5,141
Canadian
National
Railway
Co.
637,745
0.2
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Canada
(continued)
12,386
Canadian
Natural
Resources
Ltd.
$
792,660
0.2
3,785
Canadian
Pacific
Kansas
City
Ltd.
304,585
0.1
7,684
(1)
CGI,
Inc.
860,503
0.2
187
Constellation
Software,
Inc./Canada
516,840
0.1
3,073
(1)
Descartes
Systems
Group,
Inc.
269,072
0.1
6,745
Dollarama,
Inc.
495,020
0.1
426
Fairfax
Financial
Holdings
Ltd.
444,067
0.1
3,468
FirstService
Corp.
580,438
0.2
4,081
George
Weston
Ltd.
519,971
0.2
9,899
iA
Financial
Corp.,
Inc.
672,966
0.2
5,218
Imperial
Oil
Ltd.
300,982
0.1
3,961
Intact
Financial
Corp.
619,436
0.2
3,068
Loblaw
Cos.
Ltd.
306,583
0.1
7,638
Magna
International,
Inc.
434,095
0.1
52,323
Manulife
Financial
Corp.
1,156,636
0.3
6,938
Metro,
Inc.
364,278
0.1
5,586
Restaurant
Brands
International,
Inc.
436,052
0.1
9,222
Royal
Bank
of
Canada
900,010
0.3
11,679
(1)
Shopify,
Inc.
-
Class
A
934,963
0.3
11,527
Sun
Life
Financial,
Inc.
597,506
0.2
15,704
Suncor
Energy,
Inc.
520,021
0.2
3,454
Thomson
Reuters
Corp.
512,814
0.1
19,035
Toronto-Dominion
Bank
1,156,301
0.3
17,155,567
4.9
Chile
:
0.1%
3,910,803
Cia
Sud
Americana
de
Vapores
SA
281,807
0.1
China
:
1.3%
123,320
Alibaba
Group
Holding
Ltd.
1,106,054
0.3
20,972
(1)
Baidu,
Inc.
-
Class
A
271,529
0.1
11,000
BYD
Co.
Ltd.
-
Class
H
246,292
0.1
838,000
China
Construction
Bank
Corp.
-
Class
H
497,658
0.1
30,382
JD.com,
Inc.
-
Class
A
342,592
0.1
600
Kweichow
Moutai
Co.
Ltd.
-
Class
A
134,297
0.0
23,830
(1)(2)
Meituan
-
Class
B
191,670
0.1
7,875
NetEase,
Inc.
153,075
0.0
804,000
PetroChina
Co.
Ltd.
-
Class
H
581,586
0.2
19,900
Tencent
Holdings
Ltd.
690,755
0.2
14,400
(2)
WuXi
AppTec
Co.
Ltd.
-
Class
H
99,633
0.0
476,000
Zhejiang
Expressway
Co.
Ltd.
-
Class
H
353,602
0.1
4,668,743
1.3
Denmark
:
2.3%
5,947
Carlsberg
AS
-
Class
B
765,185
0.2
42,469
Danske
Bank
A/S
1,140,356
0.3
5,191
DSV
A/S
928,721
0.3
42,798
Novo
Nordisk
A/S
-
Class
B
4,892,002
1.4
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
2
Voya
Multi-Manager
International Factors Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Denmark
(continued)
9,040
(1)
Vestas
Wind
Systems
A/S
$
254,883
0.1
7,981,147
2.3
Finland
:
1.0%
29,048
Fortum
Oyj
397,089
0.1
24,137
Kesko
Oyj
-
Class
B
471,384
0.2
8,687
Kone
Oyj
-
Class
B
430,016
0.1
63,661
Nordea
Bank
Abp
784,551
0.2
30,803
UPM-Kymmene
Oyj
1,120,369
0.3
21,189
Wartsila
Oyj
Abp
312,569
0.1
3,515,978
1.0
France
:
9.9%
14,647
Air
Liquide
SA
2,740,932
0.8
3,556
Airbus
SE
566,418
0.2
4,980
Arkema
SA
541,986
0.1
45,049
AXA
SA
1,512,078
0.4
44,968
Bollore
SE
297,014
0.1
4,988
Capgemini
SE
1,108,934
0.3
18,822
Carrefour
SA
321,333
0.1
32,907
Cie
de
Saint-Gobain
2,326,731
0.7
25,711
Cie
Generale
des
Etablissements
Michelin
SCA
853,671
0.2
9,426
Danone
SA
627,992
0.2
3,613
Edenred
215,798
0.1
3,261
Eiffage
SA
341,198
0.1
136,127
Engie
SA
2,174,276
0.6
6,542
EssilorLuxottica
SA
1,282,051
0.4
3,833
Gecina
SA
422,727
0.1
618
Hermes
International
1,303,765
0.4
16,684
Legrand
SA
1,616,934
0.4
2,253
L'Oreal
SA
1,078,179
0.3
2,133
LVMH
Moet
Hennessy
Louis
Vuitton
SE
1,774,774
0.5
51,445
Orange
SA
611,778
0.2
1,541
Pernod
Ricard
SA
252,701
0.1
10,906
Publicis
Groupe
SA
1,092,706
0.3
14,486
Rexel
SA
385,808
0.1
2,000
Safran
SA
373,416
0.1
25,312
Sanofi
2,534,873
0.7
9,015
Schneider
Electric
SE
1,770,991
0.5
7,813
STMicroelectronics
NV
343,048
0.1
1,977
Thales
SA
289,143
0.1
56,017
TotalEnergies
SE
3,634,120
1.0
29,538
Veolia
Environnement
SA
962,457
0.3
8,514
Vinci
SA
1,075,504
0.3
4,633
Wendel
SE
420,038
0.1
34,853,374
9.9
Germany
:
7.1%
1,046
Allianz
SE
279,465
0.1
15,089
BASF
SE
721,311
0.2
24,031
Bayerische
Motoren
Werke
AG
2,500,489
0.7
2,519
Beiersdorf
AG
368,628
0.1
13,128
Brenntag
SE
1,160,642
0.3
4,817
Commerzbank
AG
55,316
0.0
5,628
Continental
AG
459,753
0.1
4,751
(1)(2)
Covestro
AG
250,878
0.1
36,769
Deutsche
Post
AG,
Reg
1,761,012
0.5
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Germany
(continued)
44,462
Deutsche
Telekom
AG,
Reg
$
1,091,441
0.3
346,819
E.ON
SE
4,692,191
1.3
25,272
GEA
Group
AG
1,012,115
0.3
16,913
Heidelberg
Materials
AG
1,561,816
0.4
17,321
(1)
HelloFresh
SE
229,065
0.1
11,665
KION
Group
AG
532,213
0.2
19,014
Mercedes-Benz
Group
AG
1,283,683
0.4
1,122
MTU
Aero
Engines
AG
257,981
0.1
5,902
RWE
AG
217,934
0.1
12,826
SAP
SE
2,222,051
0.6
14,037
Siemens
AG,
Reg
2,512,948
0.7
5,581
(2)
Siemens
Healthineers
AG
310,588
0.1
2,366
Talanx
AG
166,000
0.1
109,769
thyssenkrupp
AG
677,458
0.2
25,334
(1)(2)
Zalando
SE
505,833
0.1
24,830,811
7.1
Hong
Kong
:
0.5%
30,400
AIA
Group
Ltd.
238,410
0.1
9,800
Jardine
Matheson
Holdings
Ltd.
(SGX:J36)
393,511
0.1
17,327
(1)
Melco
Resorts
&
Entertainment
Ltd.,
ADR
135,324
0.0
115,500
Swire
Pacific
Ltd.
-
Class
A
893,627
0.3
1,660,872
0.5
Hungary
:
0.1%
6,302
OTP
Bank
Nyrt
291,964
0.1
India
:
0.7%
187,563
(2)
Equitas
Small
Finance
Bank
Ltd.
234,777
0.1
6,177
(2)
HDFC
Asset
Management
Co.
Ltd.
266,450
0.1
21,525
ICICI
Bank
Ltd.,
ADR
525,210
0.2
9,915
Larsen
&
Toubro
Ltd.
415,094
0.1
61,868
REC
Ltd.
371,651
0.1
3,629
Tata
Consultancy
Services
Ltd.
166,684
0.0
33,438
Tata
Motors
Ltd.
355,875
0.1
2,335,741
0.7
Indonesia
:
0.2%
3,099,700
Aneka
Tambang
Tbk
304,121
0.1
694,800
Bank
Rakyat
Indonesia
Persero
Tbk
PT
250,292
0.1
554,413
0.2
Ireland
:
1.4%
8,072
CRH
PLC
579,247
0.2
25,341
CRH
PLC
-
London
1,797,729
0.5
9,812
DCC
PLC
713,325
0.2
7,023
Experian
PLC
292,314
0.1
21,122
Glanbia
PLC
377,549
0.1
8,457
(1)
James
Hardie
Industries
PLC
317,734
0.1
1,533
Kerry
Group
PLC
-
Class
A
136,642
0.0
2,271
(1)
PDD
Holdings,
Inc.,
ADR
288,122
0.1
12,030
Smurfit
Kappa
Group
PLC
447,902
0.1
4,950,564
1.4
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
3
Voya
Multi-Manager
International Factors Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Israel
:
0.0%
937
(1)
Monday.com
Ltd.
$
196,807
0.0
Italy
:
3.4%
378,341
A2A
SpA
750,120
0.2
444,370
Enel
SpA
3,032,091
0.9
146,979
Eni
SpA
2,343,032
0.7
5,547
Ferrari
NV
1,934,437
0.5
126,892
Hera
SpA
446,992
0.1
338,536
Intesa
Sanpaolo
SpA
1,043,125
0.3
5,088
Moncler
SpA
312,996
0.1
11,105
Prysmian
SpA
488,728
0.1
3,746
Recordati
Industria
Chimica
e
Farmaceutica
SpA
206,757
0.1
34,454
Terna
-
Rete
Elettrica
Nazionale
290,517
0.1
38,445
UniCredit
SpA
1,126,128
0.3
11,974,923
3.4
Japan
:
22.1%
8,700
Aisin
Corp.
324,815
0.1
18,000
Ajinomoto
Co.,
Inc.
739,169
0.2
20,900
Alfresa
Holdings
Corp.
342,738
0.1
29,100
Amada
Co.
Ltd.
314,037
0.1
105,700
Asahi
Kasei
Corp.
801,580
0.2
59,600
Astellas
Pharma,
Inc.
693,892
0.2
19,500
Azbil
Corp.
630,137
0.2
15,500
Bridgestone
Corp.
671,657
0.2
18,800
Canon,
Inc.
517,886
0.1
9,700
Central
Japan
Railway
Co.
242,429
0.1
105,800
Chubu
Electric
Power
Co.,
Inc.
1,372,511
0.4
37,900
Citizen
Watch
Co.
Ltd.
240,373
0.1
17,700
COMSYS
Holdings
Corp.
387,543
0.1
5,200
Daito
Trust
Construction
Co.
Ltd.
591,503
0.2
29,000
Daiwa
House
Industry
Co.
Ltd.
896,737
0.3
26,600
Denso
Corp.
417,834
0.1
4,300
East
Japan
Railway
Co.
245,928
0.1
18,800
Electric
Power
Development
Co.
Ltd.
315,793
0.1
463,400
ENEOS
Holdings,
Inc.
1,871,466
0.5
60,700
Fujikura
Ltd.
498,985
0.1
4,200
Fujitsu
Ltd.
581,340
0.2
7,900
Furukawa
Electric
Co.
Ltd.
143,705
0.0
38,800
Hitachi
Ltd.
3,047,754
0.9
213,100
Honda
Motor
Co.
Ltd.
2,382,045
0.7
3,100
Horiba
Ltd.
248,726
0.1
22,400
Inpex
Corp.
304,471
0.1
35,900
ITOCHU
Corp.
1,629,290
0.5
10,400
Iwatani
Corp.
464,740
0.1
16,600
Japan
Tobacco,
Inc.
437,533
0.1
27,200
JVCKenwood
Corp.
132,277
0.0
11,500
Kamigumi
Co.
Ltd.
264,567
0.1
56,900
Kansai
Electric
Power
Co.,
Inc.
776,238
0.2
33,800
Kansai
Paint
Co.
Ltd.
565,130
0.2
49,600
KDDI
Corp.
1,643,499
0.5
600
Keyence
Corp.
268,439
0.1
23,200
Kinden
Corp.
386,618
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan
(continued)
9,400
Kintetsu
Group
Holdings
Co.
Ltd.
$
290,060
0.1
69,900
Kirin
Holdings
Co.
Ltd.
1,004,740
0.3
57,400
Komatsu
Ltd.
1,633,028
0.5
22,200
Makita
Corp.
597,513
0.2
66,900
Marubeni
Corp.
1,141,091
0.3
94,300
Mazda
Motor
Corp.
1,143,241
0.3
26,600
Medipal
Holdings
Corp.
424,562
0.1
18,700
MEIJI
Holdings
Co.
Ltd.
452,252
0.1
227,300
Mitsubishi
Chemical
Group
Corp.
1,370,561
0.4
168,100
Mitsubishi
Corp.
2,897,195
0.8
42,700
Mitsubishi
Electric
Corp.
633,681
0.2
90,200
Mitsubishi
UFJ
Financial
Group,
Inc.
844,863
0.2
42,700
Mitsui
&
Co.
Ltd.
1,731,795
0.5
14,500
Mitsui
Chemicals,
Inc.
426,739
0.1
45,500
Nikon
Corp.
464,352
0.1
16,500
Nintendo
Co.
Ltd.
921,870
0.3
18,400
Nippon
Steel
Corp.
442,790
0.1
266,200
Nippon
Telegraph
&
Telephone
Corp.
334,282
0.1
13,300
Nippon
Yusen
KK
458,329
0.1
12,300
Nissin
Foods
Holdings
Co.
Ltd.
397,922
0.1
10,400
Niterra
Co.
Ltd.
280,058
0.1
23,400
Nitto
Denko
Corp.
1,941,214
0.6
761
Nomura
Real
Estate
Master
Fund,
Inc.
832,736
0.2
151,700
Obayashi
Corp.
1,404,217
0.4
1,400
Obic
Co.
Ltd.
215,054
0.1
25,600
Olympus
Corp.
378,974
0.1
17,500
ORIX
Corp.
337,912
0.1
17,100
Osaka
Gas
Co.
Ltd.
360,072
0.1
10,300
Otsuka
Holdings
Co.
Ltd.
404,876
0.1
98,600
Panasonic
Holdings
Corp.
928,692
0.3
185,000
Persol
Holdings
Co.
Ltd.
294,097
0.1
27,100
Ricoh
Co.
Ltd.
213,006
0.1
16,800
Rohm
Co.
Ltd.
289,955
0.1
8,700
Sankyo
Co.
Ltd.
532,149
0.1
36,700
Sanwa
Holdings
Corp.
560,929
0.2
4,200
SCREEN
Holdings
Co.
Ltd.
411,849
0.1
9,200
Secom
Co.
Ltd.
667,739
0.2
95,700
Sekisui
Chemical
Co.
Ltd.
1,366,361
0.4
18,000
Sekisui
House
Ltd.
406,336
0.1
7,100
Seven
&
i
Holdings
Co.
Ltd.
280,413
0.1
17,600
SG
Holdings
Co.
Ltd.
227,922
0.1
2,500
Shimamura
Co.
Ltd.
274,271
0.1
61,800
Shimizu
Corp.
413,697
0.1
47,900
Shin-Etsu
Chemical
Co.
Ltd.
1,885,449
0.5
33,700
SoftBank
Corp.
447,733
0.1
31,800
Sojitz
Corp.
750,525
0.2
8,900
Sony
Group
Corp.
872,809
0.2
24,700
Subaru
Corp.
492,748
0.1
44,700
Sumitomo
Corp.
1,028,004
0.3
51,400
Sumitomo
Electric
Industries
Ltd.
683,189
0.2
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
4
Voya
Multi-Manager
International Factors Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Japan
(continued)
32,300
Sumitomo
Mitsui
Financial
Group,
Inc.
$
1,680,032
0.5
51,400
Sumitomo
Mitsui
Trust
Holdings,
Inc.
1,053,354
0.3
12,400
Suzuken
Co.
Ltd./Aichi
Japan
384,908
0.1
33,700
Takeda
Pharmaceutical
Co.
Ltd.
990,459
0.3
29,700
Teijin
Ltd.
273,222
0.1
10,800
Tobu
Railway
Co.
Ltd.
286,019
0.1
60,100
Tokio
Marine
Holdings,
Inc.
1,584,683
0.4
10,100
Tokyo
Electron
Ltd.
1,874,282
0.5
90,100
Tokyo
Gas
Co.
Ltd.
2,069,767
0.6
17,800
TOPPAN
Holdings,
Inc.
490,647
0.1
3,300
Toyota
Industries
Corp.
279,111
0.1
59,000
Toyota
Motor
Corp.
1,178,101
0.3
16,600
Toyota
Tsusho
Corp.
1,087,822
0.3
5,500
Ulvac,
Inc.
269,189
0.1
8,100
USS
Co.
Ltd.
153,182
0.0
27,400
Yamato
Holdings
Co.
Ltd.
473,648
0.1
50,900
Yokogawa
Electric
Corp.
1,000,221
0.3
6,900
Zenkoku
Hosho
Co.
Ltd.
256,773
0.1
77,572,657
22.1
Jordan
:
0.2%
23,634
Hikma
Pharmaceuticals
PLC
576,599
0.2
Mexico
:
0.2%
1,310
Coca-Cola
Femsa
SAB
de
CV
-
Foreign,
ADR
124,372
0.0
48,300
Grupo
Financiero
Banorte
SAB
de
CV
-
Class
O
491,124
0.2
615,496
0.2
Netherlands
:
4.7%
3,706
Akzo
Nobel
NV
284,666
0.1
2,715
ASML
Holding
NV
2,355,492
0.7
19,679
EXOR
NV
1,903,985
0.6
4,649
Heineken
Holding
NV
390,085
0.1
2,622
Heineken
NV
263,760
0.1
2,707
IMCD
NV
413,197
0.1
104,408
ING
Groep
NV
1,483,472
0.4
100,775
Koninklijke
Ahold
Delhaize
NV
2,834,101
0.8
454,205
Koninklijke
KPN
NV
1,545,082
0.4
53,744
(1)
Koninklijke
Philips,
N.V.
1,136,979
0.3
19,276
Randstad
NV
1,096,033
0.3
68,408
Stellantis
NV
(STLAM)
1,506,793
0.4
9,853
Wolters
Kluwer
NV
1,452,495
0.4
16,666,140
4.7
New
Zealand
:
0.2%
19,115
Fisher
&
Paykel
Healthcare
Corp.
Ltd.
276,079
0.1
168,458
Spark
New
Zealand
Ltd.
547,286
0.1
823,365
0.2
Norway
:
0.6%
46,427
Equinor
ASA
1,328,606
0.4
21,016
Yara
International
ASA
694,635
0.2
2,023,241
0.6
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Poland
:
0.1%
21,096
Polski
Koncern
Naftowy
ORLEN
SA
$
328,938
0.1
Portugal
:
0.3%
48,140
Galp
Energia
SGPS
SA
757,805
0.2
12,648
Jeronimo
Martins
SGPS
SA
287,656
0.1
1,045,461
0.3
Russia
:
—%
4,061
(3)
Lukoil
PJSC
—
—
Saudi
Arabia
:
0.2%
89,859
(2)
Saudi
Arabian
Oil
Co.
732,000
0.2
Singapore
:
1.0%
32,400
DBS
Group
Holdings
Ltd.
767,404
0.2
423,600
Genting
Singapore
Ltd.
318,126
0.1
29,751
Hafnia
Ltd.
216,345
0.0
40,300
Oversea-Chinese
Banking
Corp.
Ltd.
385,485
0.1
230,000
Singapore
Airlines
Ltd.
1,141,555
0.3
88,400
Singapore
Exchange
Ltd.
617,265
0.2
12,400
United
Overseas
Bank
Ltd.
261,374
0.1
3,707,554
1.0
South
Africa
:
0.1%
41,405
MTN
Group
Ltd.
211,288
0.1
South
Korea
:
1.9%
22,188
Doosan
Bobcat,
Inc.
845,009
0.2
3,112
Hyundai
Mobis
Co.
Ltd.
487,817
0.1
1,875
Hyundai
Motor
Co.
272,719
0.1
10,808
(1)
Kia
Corp.
830,174
0.2
8,097
KT&G
Corp.
549,902
0.2
6,970
(1)
Posco
International
Corp.
273,592
0.1
2,957
Samsung
C&T
Corp.
305,471
0.1
39,700
Samsung
Electronics
Co.
Ltd.
2,157,173
0.6
1,595
(1)
Samsung
Fire
&
Marine
Insurance
Co.
Ltd.
315,618
0.1
5,419
SK
Hynix,
Inc.
542,662
0.2
6,580,137
1.9
Spain
:
2.0%
21,611
ACS
Actividades
de
Construccion
y
Servicios
SA
852,778
0.2
1,794
(2)
Aena
SME
SA
317,370
0.1
9,317
Amadeus
IT
Group
SA
652,936
0.2
32,972
Banco
Bilbao
Vizcaya
Argentaria
SA
308,598
0.1
59,636
Bankinter
SA
368,198
0.1
17,803
Endesa
SA
352,711
0.1
84,791
Iberdrola
SA
1,020,961
0.3
30,125
Industria
de
Diseno
Textil
SA
1,288,061
0.4
8,290
Naturgy
Energy
Group
SA
223,230
0.1
82,312
Repsol
SA
1,215,602
0.3
103,801
Telefonica
SA
422,347
0.1
7,022,792
2.0
Sweden
:
2.5%
19,339
Assa
Abloy
AB
-
Class
B
530,386
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
5
Voya
Multi-Manager
International Factors Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Sweden
(continued)
25,162
Atlas
Copco
AB
-
Class
A
$
401,571
0.1
10,115
Boliden
AB
268,479
0.1
76,343
(4)
Elekta
AB
-
Class
B
576,062
0.2
24,323
Epiroc
AB
-
Class
A
429,757
0.1
53,347
Essity
AB
-
Class
B
1,252,763
0.4
53,358
Investor
AB
-
Class
B
1,256,302
0.4
17,454
Saab
AB
-
Class
B
1,123,880
0.3
596,059
Samhallsbyggnadsbolaget
i
Norden
AB
273,111
0.1
22,428
Sandvik
AB
471,345
0.1
30,577
Swedbank
AB
-
Class
A
623,098
0.2
65,742
Volvo
AB
-
Class
B
1,575,528
0.4
60,088
(1)
Volvo
Car
AB
-
Class
B
156,650
0.0
8,938,932
2.5
Switzerland
:
7.2%
45,812
ABB
Ltd.,
Reg
1,938,390
0.5
670
Alcon,
Inc.
50,434
0.0
1,798
BKW
AG
285,646
0.1
2
Chocoladefabriken
Lindt
&
Spruengli
AG
253,518
0.1
23
Chocoladefabriken
Lindt
&
Spruengli
AG
-
Class
PC
292,306
0.1
1,619
Cie
Financiere
Richemont
SA
240,477
0.1
33,227
Coca-Cola
HBC
AG
-
Class
DI
976,765
0.3
1,340
Geberit
AG,
Reg
771,342
0.2
6,357
Georg
Fischer
AG
425,465
0.1
121,113
Glencore
PLC
640,803
0.2
46,003
Holcim
AG
3,513,657
1.0
7,805
Julius
Baer
Group
Ltd.
424,915
0.1
4,633
Kuehne
+
Nagel
International
AG
1,570,030
0.4
15,829
Logitech
International
SA
1,326,997
0.4
23,651
Nestle
SA
2,695,046
0.8
34,594
Novartis
AG,
Reg
3,577,497
1.0
381
Partners
Group
Holding
AG
514,036
0.1
1,366
PSP
Swiss
Property
AG,
Reg
181,811
0.0
7,605
Roche
Holding
AG
2,165,268
0.6
1,961
(1)
Sandoz
Group
AG
67,252
0.0
1,801
Sika
AG,
Reg
497,180
0.1
1,116
Swatch
Group
AG
-
Class
BR
261,991
0.1
922
Swisscom
AG,
Reg
551,618
0.2
6,061
Temenos
AG
616,830
0.2
7,209
UBS
Group
AG
215,784
0.1
2,650
Zurich
Insurance
Group
AG
1,346,437
0.4
25,401,495
7.2
Taiwan
:
1.2%
20,000
Accton
Technology
Corp.
336,451
0.1
2,000
eMemory
Technology,
Inc.
178,379
0.1
39,000
MediaTek,
Inc.
1,203,447
0.3
10,000
Novatek
Microelectronics
Corp.
162,897
0.0
44,000
Powertech
Technology,
Inc.
204,278
0.1
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Taiwan
(continued)
51,000
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
$
1,020,944
0.3
173,000
Uni-President
Enterprises
Corp.
399,783
0.1
431,000
United
Microelectronics
Corp.
671,351
0.2
3,998
Yuanta
Financial
Holding
Co.
Ltd.
3,447
0.0
4,180,977
1.2
Thailand
:
0.1%
120,600
PTT
Exploration
&
Production
PCL
508,970
0.1
United
Arab
Emirates
:
0.1%
53,667
Emirates
NBD
Bank
PJSC
258,622
0.1
United
Kingdom
:
12.9%
251,574
3i
Group
PLC
7,875,503
2.2
12,304
AstraZeneca
PLC
1,631,224
0.5
45,791
Aviva
PLC
249,953
0.1
64,578
B&M
European
Value
Retail
SA
423,226
0.1
113,603
BAE
Systems
PLC
1,692,282
0.5
68,923
Barratt
Developments
PLC
469,733
0.1
8,186
Berkeley
Group
Holdings
PLC
495,700
0.1
243,013
BP
PLC
1,419,296
0.4
142,649
British
Land
Co.
PLC
685,673
0.2
33,653
Britvic
PLC
376,372
0.1
8,174
Bunzl
PLC
332,189
0.1
29,626
Burberry
Group
PLC
487,997
0.1
509,708
Centrica
PLC
892,014
0.3
9,919
Coca-Cola
European
Partners
PLC
-
USD
683,419
0.2
26,836
Compass
Group
PLC
739,164
0.2
6,164
Diageo
PLC
222,630
0.1
101,007
(1)
Direct
Line
Insurance
Group
PLC
215,544
0.1
121,226
DS
Smith
PLC
432,242
0.1
1,059
Games
Workshop
Group
PLC
132,932
0.0
113,982
GSK
PLC
2,254,304
0.6
106,791
Haleon
PLC
433,759
0.1
38,374
Howden
Joinery
Group
PLC
388,609
0.1
168,608
HSBC
Holdings
PLC
1,316,440
0.4
68,315
IG
Group
Holdings
PLC
613,887
0.2
17,418
Imperial
Brands
PLC
418,121
0.1
14,748
InterContinental
Hotels
Group
PLC
1,397,417
0.4
14,857
Investec
PLC
-
GBP
96,727
0.0
258,563
J
Sainsbury
PLC
882,775
0.3
30,382
JET2
PLC
514,401
0.2
8,932
(1)(2)(4)
Just
Eat
Takeaway.com
NV
134,867
0.0
286,211
Man
Group
PLC/Jersey
859,997
0.3
26,893
National
Grid
PLC
358,190
0.1
7,504
Next
PLC
801,100
0.2
66,258
Pearson
PLC
812,838
0.2
65,060
RELX
PLC
2,685,288
0.8
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
6
Voya
Multi-Manager
International Factors Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
United
Kingdom
(continued)
22,475
Rio
Tinto
PLC
$
1,555,705
0.4
85,260
Shell
PLC
2,643,255
0.8
65,456
Smiths
Group
PLC
1,341,430
0.4
16,264
Spectris
PLC
757,144
0.2
62,384
Tate
&
Lyle
PLC
492,538
0.1
281,116
Taylor
Wimpey
PLC
524,841
0.2
971,556
Tesco
PLC
3,520,546
1.0
20,927
Unilever
PLC
1,018,312
0.3
45,279,584
12.9
United
States
:
0.4%
25,890
Amcor
PLC
245,636
0.1
4,286
Ferguson
PLC
801,419
0.2
169,605
(1)(2)(4)
Sinch
AB
520,857
0.1
1,567,912
0.4
Total
Common
Stock
(Cost
$313,262,409)
344,443,963
98.0
EXCHANGE-TRADED
FUNDS
:
0.1%
7,311
iShares
MSCI
EAFE
ETF
548,398
0.1
Total
Exchange-Traded
Funds
(Cost
$546,966)
548,398
0.1
PREFERRED
STOCK
:
0.2%
Brazil
:
0.2%
134,700
(1)
Azul
SA
365,134
0.1
27,100
Petroleo
Brasileiro
SA
222,898
0.1
588,032
0.2
Total
Preferred
Stock
(Cost
$611,082)
588,032
0.2
RIGHTS
:
0.0%
Spain
:
0.0%
20,981
(1)
ACS
Actividades
de
Construccion
y
Servicios
SA
9,614
0.0
Total
Rights
(Cost
$10,447)
9,614
0.0
WARRANTS
:
—%
Canada
:
—%
215
(3)
Constellation
Software,
Inc./Canada
—
—
Total
Warrants
(Cost
$–)
—
—
Total
Long-Term
Investments
(Cost
$314,430,904)
345,590,007
98.3
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
0.9%
Repurchase
Agreements
:
0.3%
997,052
(5)
Deutsche
Bank
Securities
Inc.,
Repurchase
Agreement
dated
01/31/2024,
5.320%,
due
02/01/2024
(Repurchase
Amount
$997,197,
collateralized
by
various
U.S.
Government
Agency
Obligations,
2.000%-6.000%,
Market
Value
plus
accrued
interest
$1,016,993,
due
09/15/39-10/20/62)
$
997,052
0.3
Total
Repurchase
Agreements
(Cost
$997,052)
997,052
0.3
Shares
RA
Value
Percentage
of
Net
Assets
Mutual
Funds
:
0.6%
431,454
(6)
BlackRock
Liquidity
Funds,
FedFund,
Institutional
Class,
5.220%
431,454
0.1
1,576,000
(6)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
5.210%
1,576,000
0.5
Total
Mutual
Funds
(Cost
$2,007,454)
2,007,454
0.6
Total
Short-Term
Investments
(Cost
$3,004,506)
3,004,506
0.9
Total
Investments
in
Securities
(Cost
$317,435,410)
$
348,594,513
99.2
Assets
in
Excess
of
Other
Liabilities
2,809,131
0.8
Net
Assets
$
351,403,644
100.0
ADR
American
Depositary
Receipt
†
Unless
otherwise
indicated,
principal
amount
is
shown
in
USD.
(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)
Security,
or
a
portion
of
the
security,
is
on
loan.
(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.
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
7
Voya
Multi-Manager
International Factors Fund
Sector
Diversification
Percentage
of
Net
Assets
Industrials
21.1
%
Financials
14.4
Consumer
Discretionary
12.1
Materials
9.3
Consumer
Staples
8.9
Health
Care
7.5
Information
Technology
7.2
Energy
6.4
Utilities
6.0
Communication
Services
3.5
Real
Estate
1.8
Exchange-Traded
Funds
0.1
Short-Term
Investments
0.9
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,
2024
(Unaudited)
(continued)
8
Voya
Multi-Manager
International Factors 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
Australia
$
—
$
22,625,279
$
—
$
22,625,279
Austria
—
408,640
—
408,640
Belgium
761,401
233,582
—
994,983
Brazil
1,120,190
—
—
1,120,190
Canada
17,155,567
—
—
17,155,567
Chile
281,807
—
—
281,807
China
—
4,668,743
—
4,668,743
Denmark
—
7,981,147
—
7,981,147
Finland
—
3,515,978
—
3,515,978
France
—
34,853,374
—
34,853,374
Germany
—
24,830,811
—
24,830,811
Hong
Kong
135,324
1,525,548
—
1,660,872
Hungary
291,964
—
—
291,964
India
525,210
1,810,531
—
2,335,741
Indonesia
—
554,413
—
554,413
Ireland
1,244,918
3,705,646
—
4,950,564
Israel
196,807
—
—
196,807
Italy
—
11,974,923
—
11,974,923
Japan
—
77,572,657
—
77,572,657
Jordan
—
576,599
—
576,599
Mexico
615,496
—
—
615,496
Netherlands
—
16,666,140
—
16,666,140
New
Zealand
547,286
276,079
—
823,365
Norway
—
2,023,241
—
2,023,241
Poland
—
328,938
—
328,938
Portugal
—
1,045,461
—
1,045,461
Russia
—
—
—
—
Saudi
Arabia
—
732,000
—
732,000
Singapore
—
3,707,554
—
3,707,554
South
Africa
211,288
—
—
211,288
South
Korea
—
6,580,137
—
6,580,137
Spain
—
7,022,792
—
7,022,792
Sweden
—
8,938,932
—
8,938,932
Switzerland
—
25,401,495
—
25,401,495
Taiwan
—
4,180,977
—
4,180,977
Thailand
—
508,970
—
508,970
United
Arab
Emirates
258,622
—
—
258,622
United
Kingdom
3,059,659
42,219,925
—
45,279,584
United
States
—
1,567,912
—
1,567,912
Total
Common
Stock
26,405,539
318,038,424
—
344,443,963
Exchange-Traded
Funds
548,398
—
—
548,398
Preferred
Stock
588,032
—
—
588,032
Rights
9,614
—
—
9,614
Short-Term
Investments
2,007,454
997,052
—
3,004,506
Total
Investments,
at
fair
value
$
29,559,037
$
319,035,476
$
—
$
348,594,513
Other
Financial
Instruments+
Futures
18,558
—
—
18,558
Total
Assets
$
29,577,595
$
319,035,476
$
—
$
348,613,071
PORTFOLIO
OF
INVESTMENTS
as
of
January
31,
2024
(Unaudited)
(continued)
9
Voya
Multi-Manager
International Factors Fund
#
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.
At
January
31,
2024,
the
following
futures
contracts
were
outstanding
for
Voya
Multi-Manager
International
Factors
Fund:
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Appreciation
Long
Contracts:
MSCI
EAFE
Index
21
03/15/24
$
2,344,650
$
18,558
$
2,344,650
$
18,558
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
39,407,383
Gross
Unrealized
Depreciation
(8,248,280)
Net
Unrealized
Appreciation
$
31,159,103