N-CSRS 1 tv500245_ncsrs.htm N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-CSR

CERTIFIED SHAREHOLDER REPORT OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-07651

Voya Variable Portfolios, Inc.

(Exact name of registrant as specified in charter)

7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ	85258
(Address of principal executive offices)	(Zip code)

The Corporation Trust Incorporated, 300 East Lombard Street, Baltimore MD 21202

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-800-992-0180

Date of fiscal year end: December 31

Date of reporting period: January 1, 2018 to June 30, 2018

Item 1. Reports to Stockholders.

The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):

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Semi-Annual Report

June 30, 2018

Classes ADV, I, P2, S and S2

Voya Variable Product Index Funds

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Voya Australia Index Portfolio

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Voya Emerging Markets Index Portfolio

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Voya Euro STOXX 50® Index Portfolio

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Voya FTSE 100 Index® Portfolio

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Voya Hang Seng Index Portfolio

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Voya International Index Portfolio

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Voya Japan TOPIX Index® Portfolio

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Voya Russell™ Large Cap Growth Index Portfolio

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Voya Russell™ Large Cap Index Portfolio

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Voya Russell™ Large Cap Value Index Portfolio

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Voya Russell™ Mid Cap Growth Index Portfolio

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Voya Russell™ Mid Cap Index Portfolio

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Voya Russell™ Small Cap Index Portfolio

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Voya U.S. Bond Index Portfolio

This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully.

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	President’s Letter					1
	Market Perspective					2
	Shareholder Expense Examples					4
	Statements of Assets and Liabilities					6
	Statements of Operations					14
	Statements of Changes in Net Assets					18
	Financial Highlights					25
	Notes to Financial Statements					35
	Summary Portfolios of Investments (“Portfolio of Investments”)					55

PROXY VOTING INFORMATION

A description of the policies and procedures that the Portfolios use to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the Portfolios’ website at www.voyainvestments.com; and (3) on the U.S. Securities and Exchange Commission’s (“SEC’s”) website at www.sec.gov. Information regarding how the Portfolios voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Portfolios’ website at www.voyainvestments.com and on the SEC’s website at www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS

The Portfolios file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. This report contains a summary portfolio of investments for certain Portfolios. The Portfolios’ Forms N-Q are available on the SEC’s website at www.sec.gov. The Portfolios’ Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C., and information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330. The Portfolios’ Forms N-Q, as well as a complete portfolio of investments, are available without charge upon request from the Portfolios by calling Shareholder Services toll-free at (800) 992-0180.

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PRESIDENT’S LETTER

Mid-Year Outlook

Dear Shareholder,

Market performance has been disappointing in the first half of 2018, as illustrated by the year-to-date returns in U.S. equities, despite two back-to-back quarters of over 20% earnings growth. Such periods of sweeping weak equity and bond returns are uncommon, especially when corporate profits look robust. Profits do not arise from nowhere: statistical reports this year show strong economic growth, expansion of jobs and higher consumer spending. How can we explain the disconnection between the economy and financial markets?

Investors have had to process a range of mixed signals: U.S. economic statistics point to strong growth, but the rest of the world has moderated, particularly the emerging markets. Trade concerns have clouded the financial market narrative, with scant visibility to a resolution. There are other risks besides trade conflict, such as complicated U.S. politics with the approaching mid-term elections, inflation overshoots potentially quickening the pace of interest rates increases and populist politics throwing into question the sustainability of the euro zone. The response to all this uncertainty has been vacillation between bursts of pessimism and optimism, which has led to market tumbles and rallies in rapid succession.

As 2019 approaches, we will see whether optimism or pessimism sets the tone for the year. The current state of heightened volatility may or may not persist. If it does, investors can expect to feel the pull of temptation — it is hard to resist the impulse to change one’s investment strategy seeking to avoid downturns. We believe it is important to remember that regardless of what happens in the financial markets, investors generally are better off sticking to their plans. A plan based upon your long-term goals and risk tolerances, developed with your financial advisor, offers the best chance of reaching your destination.

If your goals or needs have changed, thoroughly discuss these issues with your investment advisor before making any changes to your investment plan. Voya seeks to remain a reliable partner committed to reliable investing, helping you and your investment advisor achieve your goals. We appreciate your continued confidence in us, and we look forward to serving your investment needs in the future.

Sincerely,

Dina Santoro
President
Voya Family of Funds
July 19, 2018

The views expressed in the President’s Letter reflect those of the President as of the date of the letter. Any such views are subject to change at any time based upon market or other conditions and the Voya mutual funds disclaim any responsibility to update such views. These views may not be relied on as investment advice and because investment decisions for a Voya mutual fund are based on numerous factors, may not be relied on as an indication of investment intent on behalf of any Voya mutual fund. Reference to specific company securities should not be construed as recommendations or investment advice.

International investing poses special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic.

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Market Perspective: Six Months Ended June 30, 2018

Our new fiscal year commenced with global equities, in the form of the MSCI World IndexSM (the “Index”) measured in local currencies, including net reinvested dividends, in seemingly robust health. The Index had returned 18.48% in 2017, rising in every month. A “buy-the-dip” mentality prevailed among investors in risk assets, in which disappointments were soon forgiven. A narrative of synchronized global growth and corporate earnings, with monetary conditions still historically easy, looked intact. (The Index returned 0.43% for the six-months ended June 30, 2018, measured in U.S. dollars.)

But having reached an all-time high on January 26, in February the spell was broken, and after 15 consecutive gains, the Index suffered a monthly loss. Another loss followed in March, and for the six-months through June the Index edged up just 1.29%.

December had seen new unemployment claims near a 44-year low. Gross Domestic Product (“GDP”) recorded growth of 3.16% in the latest quarter. Tax reform legislation was signed into law on December 22, under which the lower corporate tax rate of 21% would boost the corporate earnings available for distribution or share buy-backs.

The Federal Open Market Committee (“FOMC”) had raised the federal funds rate by 25bp (0.25%) from 1.25% to 1.50%, with three more increases projected for 2018. As 2017 ended, new unemployment claims were near a 44-year low and the unemployment rate was stable at 4.1%. All seemed well, but some commentators wondered whether a tax cut stimulus costing $1 trillion to an already strong economy near full employment, would require more than three increases, and how would markets react when this became obvious.

In Europe, initially, evidence of the euro zone’s economic recovery continued to accumulate; GDP grew at 2.8% year-over-year and unemployment edged down to 8.6%, the lowest since December 2008. Purchasing managers’ indices, closely watched leading indicators of economic activity, reached multi-year highs. But as the months wore on, these fell back and the June readings were the lowest of the year, while industrial production sagged and core inflation slipped to 1.0%. The UK’s economy was still beset by uncertainty over Brexit. First quarter GDP was just 1.2% above the level one year earlier.

In Asia, China’s GDP growth was steady at 6.8% year-over-year. But tighter monetary policy to force deleveraging was driving up bond defaults, while key measures of economic activity, like fixed asset investment, retail sales and industrial production were cooling. In Japan, GDP grew for eight consecutive quarters, but in the first quarter of 2018 it fell by 0.6% annualized, with wage and price inflation still stubbornly low. In short, the main international economies seemed to be faltering.

In the U.S., 2018 started with a rather tame January employment report, but was followed in mid-month by unexpectedly strong inflation figures. Bond yields were creeping up and by January 22, the ten-year Treasury yield reached a three-year high. In early February fears of inflation and spiking bond yields gripped markets, which became much more volatile. The Index slumped 7% in a week.

Still, the underlying U.S. economy remained strong. In April the unemployment rate broke below 4% and in June it was reported at

3.75%, equaling the lowest since 1969. While GDP growth in the first quarter of 2018, at 2.0%, continued its recent pattern of modest first quarter increases, expectations for the second quarter exceeded 4%.

In March and June the FOMC duly raised rates, with two more increases now projected for 2018.

But by then investors had more to worry about than rising U.S. interest rates. On March 1, the White House announced tariffs of 25% on imported steel and 10% on aluminum, which took effect at the beginning of June. Specific tariffs on Chinese imports and restrictions on Chinese investments were promised, as was a 20% tariff on European auto imports. Retaliation was swift.

So June ended with the aura of synchronized global growth fading fast and what was left of it threatened by a trade war, from which surely no-one could expect any lasting benefit.

In U.S. fixed income markets, the Treasury yields rose across the curve, the short end significantly more than the long. Indeed the excess of the 10-year yield over the two-year fell to just 0.32%, the lowest in nearly 11 years. The Bloomberg Barclays U.S. Aggregate Bond Index lost 1.62%, the Bloomberg Barclays U.S. Corporate Investment Grade Bond sub-index fell 3.27%, dragged down by longer dated issues, which especially suffered as interest rates rose.

U.S. equities, represented by the S&P 500® Index including dividends, rose 2.65%. The earnings per share of its constituent companies recorded growth in the first quarter of 2018 of 24.8% year-over-year, the most since 2010. Consumer discretionary, the sector of Amazon and Netflix, was the top performer, up 11.52%; consumer staples suffered the biggest loss, 8.55%.

In currencies, the dollar rose 2.94% against the euro and 2.42% against the pound, but slipped 1.78% against the yen. From about April, after sustained weakness, dollar strength returned as the economic data for most of the rest of the world faded.

International markets were all unnerved by February’s general upsurge in volatility and by the risk of a trade war referred to above. In addition, the fiscal boost in the U.S. probably improved that market’s relative attractiveness. MSCI Japan® Index fell 3.66% over the fiscal half-year. MSCI Europe ex UK® Index lost 1.21%. Political worries resurfaced in Italy with the election of a populist government to add to those caused by weakening economic indicators. MSCI UK® Index gained 1.39%, driven by its big global energy constituents, as oil prices recovered.

All indices are unmanaged and investors cannot invest directly in an index. Past performance does not guarantee future results. The performance quoted represents past performance.

Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. The Portfolios’ performance is subject to change since the period’s end and may be lower or higher than the performance data shown. Please call (800) 992-0180 or log on to www.voyainvestments.com to obtain performance data current to the most recent month end.

Market Perspective reflects the views of Voya Investment Management’s Chief Investment Risk Officer only through the end of the period, and is subject to change based on market and other conditions.

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Benchmark Descriptions

		Index				Description
		Bloomberg Barclays U.S. Aggregate Bond Index				An index of publicly issued investment grade U.S. government, mortgage-backed, asset-backed and corporate debt securities.
		Bloomberg Barclays U.S. Corporate Investment Grade Bond Index				An index consisting of publicly issued, fixed rate, nonconvertible, investment grade debt securities.
		MSCI Europe ex UK® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK.
		MSCI Japan® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan.
		MSCI UK® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK.
		MSCI World IndexSM				An index that measures the performance of over 1,600 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East.
		S&P 500® Index				An index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major U.S. stock markets.

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SHAREHOLDER EXPENSE EXAMPLES (Unaudited)

As a shareholder of a Portfolio, you incur two types of costs: (1) transaction costs, including redemption fees and exchange fees; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Portfolio expenses. These Examples are intended to help you understand your ongoing costs (in dollars) of investing in a Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The Examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from January 1, 2018 to June 30, 2018. The Portfolios' expenses are shown without the imposition of any charges which are, or may be, imposed under your variable annuity contract, variable life insurance policy, qualified pension, or retirement plan. Expenses would have been higher if such charges were included.

Actual Expenses

The left section of the table shown below, “Actual Portfolio Return,” provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first section under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The right section of the table shown below, “Hypothetical (5% return before expenses),” provides information about hypothetical account values and hypothetical expenses based on a Portfolio’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not a Portfolio’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a Portfolio and other mutual funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other mutual funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as redemption fees or exchange fees. Therefore, the hypothetical section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different mutual funds. In addition, if these transactional costs were included, your costs would have been higher.

	Actual Portfolio Return											Hypothetical (5% return before expenses)
	Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio		Expenses Paid During the Period Ended June 30, 2018*			Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio		Expenses Paid During the Period Ended June 30, 2018*
Voya Australia Index Portfolio
Class I		$	1,000.00		$	988.60		0.50%		$	2.47		$	1,000.00		$	1,022.32		0.50%		$	2.51
Voya Emerging Markets Index Portfolio
Class I		$	1,000.00		$	929.00		0.54%		$	2.58		$	1,000.00		$	1,022.12		0.54%		$	2.71
Class P2			1,000.00			931.50		0.15			0.72			1,000.00			1,024.05		0.15			0.75
Class S			1,000.00			928.10		0.79			3.78			1,000.00			1,020.88		0.79			3.96
Voya Euro STOXX 50® Index Portfolio
Class ADV		$	1,000.00		$	961.00		0.94%		$	4.57		$	1,000.00		$	1,020.13		0.94%		$	4.71
Class I			1,000.00			963.80		0.44			2.14			1,000.00			1,022.61		0.44			2.21
Voya FTSE 100 Index® Portfolio
Class ADV		$	1,000.00		$	989.80		0.93%		$	4.59		$	1,000.00		$	1,020.18		0.93%		$	4.66
Class I			1,000.00			991.90		0.43			2.12			1,000.00			1,022.66		0.43			2.16
Voya Hang Seng Index Portfolio
Class ADV		$	1,000.00		$	972.60		1.06%		$	5.18		$	1,000.00		$	1,019.54		1.06%		$	5.31
Class I			1,000.00			975.50		0.56			2.74			1,000.00			1,022.02		0.56			2.81
Class S			1,000.00			974.30		0.81			3.97			1,000.00			1,020.78		0.81			4.06

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SHAREHOLDER EXPENSE EXAMPLES (Unaudited) (continued)

	Actual Portfolio Return											Hypothetical (5% return before expenses)
	Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio		Expenses Paid During the Period Ended June 30, 2018*			Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio		Expenses Paid During the Period Ended June 30, 2018*
Voya International Index Portfolio
Class ADV		$	1,000.00		$	970.80		0.94%		$	4.59		$	1,000.00		$	1,020.13		0.94%		$	4.71
Class I			1,000.00			973.60		0.45			2.20			1,000.00			1,022.56		0.45			2.26
Class P2			1,000.00			974.60		0.15			0.73			1,000.00			1,024.05		0.15			0.75
Class S			1,000.00			971.90		0.70			3.42			1,000.00			1,021.32		0.70			3.51
Class S2			1,000.00			970.80		0.85			4.15			1,000.00			1,020.58		0.85			4.26
Voya Japan TOPIX Index® Portfolio
Class ADV		$	1,000.00		$	975.20		0.93%		$	4.55		$	1,000.00		$	1,020.18		0.93%		$	4.66
Class I			1,000.00			978.10		0.43			2.11			1,000.00			1,022.66		0.43			2.16
Voya Russell™ Large Cap Growth Index Portfolio
Class ADV		$	1,000.00		$	1,072.90		0.93%		$	4.78		$	1,000.00		$	1,020.18		0.93%		$	4.66
Class I			1,000.00			1,075.50		0.43			2.21			1,000.00			1,022.66		0.43			2.16
Class S			1,000.00			1,074.30		0.68			3.50			1,000.00			1,021.42		0.68			3.41
Voya Russell™ Large Cap Index Portfolio
Class ADV		$	1,000.00		$	1,025.70		0.86%		$	4.32		$	1,000.00		$	1,020.53		0.86%		$	4.31
Class I			1,000.00			1,028.40		0.36			1.81			1,000.00			1,023.01		0.36			1.81
Class S			1,000.00			1,026.90		0.61			3.07			1,000.00			1,021.77		0.61			3.06
Class S2			1,000.00			1,026.60		0.76			3.82			1,000.00			1,021.03		0.76			3.81
Voya Russell™ Large Cap Value Index Portfolio
Class ADV		$	1,000.00		$	971.10		0.91%		$	4.45		$	1,000.00		$	1,020.28		0.91%		$	4.56
Class I			1,000.00			974.20		0.41			2.01			1,000.00			1,022.76		0.41			2.06
Class S			1,000.00			973.00		0.66			3.23			1,000.00			1,021.52		0.66			3.31
Voya Russell™ Mid Cap Growth Index Portfolio
Class I		$	1,000.00		$	1,052.10		0.40%		$	2.04		$	1,000.00		$	1,022.81		0.40%		$	2.01
Class S			1,000.00			1,050.80		0.65			3.31			1,000.00			1,021.57		0.65			3.26
Class S2			1,000.00			1,049.80		0.80			4.07			1,000.00			1,020.83		0.80			4.01
Voya Russell™ Mid Cap Index Portfolio
Class ADV		$	1,000.00		$	1,018.80		0.91%		$	4.56		$	1,000.00		$	1,020.28		0.91%		$	4.56
Class I			1,000.00			1,021.70		0.41			2.06			1,000.00			1,022.76		0.41			2.06
Class P2			1,000.00			1,023.00		0.16			0.80			1,000.00			1,024.00		0.16			0.80
Class S			1,000.00			1,020.30		0.66			3.31			1,000.00			1,021.52		0.66			3.31
Class S2			1,000.00			1,019.30		0.81			4.06			1,000.00			1,020.78		0.81			4.06
Voya Russell™ Small Cap Index Portfolio
Class ADV		$	1,000.00		$	1,073.50		0.96%		$	4.94		$	1,000.00		$	1,020.03		0.96%		$	4.81
Class I			1,000.00			1,075.90		0.46			2.37			1,000.00			1,022.51		0.46			2.31
Class P2			1,000.00			1,077.70		0.16			0.82			1,000.00			1,024.00		0.16			0.80
Class S			1,000.00			1,074.40		0.71			3.65			1,000.00			1,021.27		0.71			3.56
Class S2			1,000.00			1,073.80		0.86			4.42			1,000.00			1,020.53		0.86			4.31
Voya U.S. Bond Index Portfolio
Class ADV		$	1,000.00		$	978.60		0.90%		$	4.42		$	1,000.00		$	1,020.33		0.90%		$	4.51
Class I			1,000.00			981.20		0.40			1.96			1,000.00			1,022.81		0.40			2.01
Class P2			1,000.00			983.40		0.15			0.74			1,000.00			1,024.05		0.15			0.75
Class S			1,000.00			979.90		0.65			3.19			1,000.00			1,021.57		0.65			3.26
Class S2			1,000.00			980.10		0.80			3.93			1,000.00			1,020.83		0.80			4.01

Expenses are equal to each Portfolio’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half-year.

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STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited)

	Voya Australia Index Portfolio			Voya Emerging Markets Index Portfolio			Voya Euro STOXX 50® Index Portfolio			Voya FTSE 100 Index® Portfolio
ASSETS:
Investments in securities at fair value+*		$	107,612,839		$	817,562,069		$	394,148,545		$	244,835,552
Short-term investments at fair value**			3,037,593			26,030,012			5,606,000			4,026,967
Cash			—			13,279			—			—
Cash collateral for futures			86,141			1,476,689			1,542,199			550,124
Foreign currencies at value***			27,787			1,236,415			309,713			486,094
Foreign cash collateral for futures****			69,286			—			—			—
Receivables:
Investment securities sold			19,013			277,153			—			297,521
Fund shares sold			462			43,770,319			15,884,518			5,194,392
Dividends			786,535			3,173,454			10,624			1,378,085
Interest			9			189			75			38
Foreign tax reclaims			—			—			1,595,013			22,602
Unrealized appreciation on forward foreign currency contracts			—			—			55,191			224
Prepaid expenses			8,450			7,237			3,676			2,591
Reimbursement due from manager			—			79,955			—			—
Other assets			3,684			14,058			14,294			10,812
Total assets			111,651,799			893,640,829			419,169,848			256,805,002
LIABILITIES:
Payable for investment securities purchased			38,203			41,006,540			16,074,900			5,147,323
Payable for fund shares redeemed			1,499,443			341,454			168,758			121,336
Payable for foreign cash collateral for futures*****			—			—			336,436			84,161
Payable upon receipt of securities loaned			1,978,593			8,988,012			—			2,029,967
Unrealized depreciation on forward foreign currency contracts			10,747			1			15,644			9,256
Payable for investment management fees			31,582			260,253			113,842			71,519
Payable for distribution and shareholder service fees			—			—			9,515			2,551
Payable to custodian due to bank overdraft			—			—			287,194			153,471
Payable for directors fees			500			3,775			1,919			1,317
Payable to directors under the deferred compensation plan (Note 6)			3,684			14,058			14,294			10,812
Payable for Indian capital gains tax			—			159,991			—			—
Other accrued expenses and liabilities			31,062			821,860			141,652			77,448
Total liabilities			3,593,814			51,595,944			17,164,154			7,709,161
NET ASSETS		$	108,057,985		$	842,044,885		$	402,005,694		$	249,095,841
NET ASSETS WERE COMPRISED OF:
Paid-in capital		$	133,106,892		$	830,099,721		$	360,478,514		$	226,919,646
Undistributed net investment income			1,797,426			7,569,539			8,461,285			5,564,741
Accumulated net realized loss			(34,376,177)			(73,124,632)			(9,886,577)			(1,401,535)
Net unrealized appreciation			7,529,844			77,500,257			42,952,472			18,012,989
NET ASSETS		$	108,057,985		$	842,044,885		$	402,005,694		$	249,095,841
+ Including securities loaned at value		$	1,704,648		$	7,801,322		$	—		$	1,929,013
* Cost of investments in securities		$	100,094,039		$	738,641,110		$	351,135,257		$	226,773,296
** Cost of short-term investments		$	3,037,593		$	26,030,012		$	5,606,000		$	4,026,967
*** Cost of foreign currencies		$	27,460		$	1,239,381		$	309,969		$	486,070
**** Cost of foreign cash collateral for futures		$	69,286		$	—		$	—		$	—
***** Cost of payable for foreign cash collateral for futures		$	—		$	—		$	336,436		$	84,161

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited) (continued)

	Voya Australia Index Portfolio			Voya Emerging Markets Index Portfolio			Voya Euro STOXX 50® Index Portfolio			Voya FTSE 100 Index® Portfolio
Class ADV
Net assets			n/a			n/a		$	22,394,799		$	5,997,314
Shares authorized			n/a			n/a			100,000,000			100,000,000
Par value			n/a			n/a		$	0.001		$	0.001
Shares outstanding			n/a			n/a			2,129,816			658,235
Net asset value and redemption price per share			n/a			n/a		$	10.51		$	9.11
Class I
Net assets		$	108,057,985		$	577,455,680		$	379,610,895		$	243,098,527
Shares authorized			100,000,000			100,000,000			200,000,000			100,000,000
Par value		$	0.001		$	0.001		$	0.001		$	0.001
Shares outstanding			12,447,830			49,515,272			35,835,711			26,472,694
Net asset value and redemption price per share		$	8.68		$	11.66		$	10.59		$	9.18
Class P2
Net assets			n/a		$	264,585,686			n/a			n/a
Shares authorized			n/a			100,000,000			n/a			n/a
Par value			n/a		$	0.001			n/a			n/a
Shares outstanding			n/a			22,575,652			n/a			n/a
Net asset value and redemption price per share			n/a		$	11.72			n/a			n/a
Class S
Net assets			n/a		$	3,519			n/a			n/a
Shares authorized			n/a			100,000,000			n/a			n/a
Par value			n/a		$	0.001			n/a			n/a
Shares outstanding			n/a			300			n/a			n/a
Net asset value and redemption price per share			n/a		$	11.73			n/a			n/a

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited)

	Voya Hang Seng Index Portfolio			Voya International Index Portfolio			Voya Japan TOPIX Index® Portfolio			Voya Russell™ Large Cap Growth Index Portfolio
ASSETS:
Investments in securities at fair value+*		$	49,007,040		$	1,690,452,260		$	249,363,859		$	712,877,053
Short-term investments at fair value**			100,000			80,958,631			5,944,603			18,459,951
Cash			—			760,705			—			224,603
Cash collateral for futures			254,709			3,544,715			383,029			678,895
Foreign currencies at value***			168,253			336,885			578,423			—
Receivables:
Investment securities sold			—			394,927			193,153			—
Fund shares sold			1,268,364			35,493,288			5,980,747			4
Dividends			284,314			4,705,863			287,551			378,531
Interest			7			6,016			—			183
Foreign tax reclaims			—			4,057,652			17,377			—
Unrealized appreciation on forward foreign currency contracts			341			—			—			—
Prepaid expenses			720			16,493			2,907			7,003
Reimbursement due from manager			—			292,746			—			—
Other assets			2,956			74,173			10,267			15,995
Total assets			51,086,704			1,821,094,354			262,761,916			732,642,218
LIABILITIES:
Payable for investment securities purchased			—			34,698,116			—			—
Payable for fund shares redeemed			26,153			834,020			112,247			345,385
Payable for foreign cash collateral for futures****			54,656			—			100,300			—
Payable upon receipt of securities loaned			—			20,458,631			4,546,603			3,486,951
Unrealized depreciation on forward foreign currency contracts			157			—			5,858			—
Payable for investment management fees			15,074			656,317			74,885			239,226
Payable for distribution and shareholder service fees			6,413			273,072			4,156			75,431
Payable to custodian due to bank overdraft			28,800			—			23,161			—
Payable for directors fees			344			8,638			1,441			3,607
Payable to directors under the deferred compensation plan (Note 6)			2,956			74,173			10,267			15,995
Other accrued expenses and liabilities			56,435			433,443			72,776			69,147
Total liabilities			190,988			57,436,410			4,951,694			4,235,742
NET ASSETS		$	50,895,716		$	1,763,657,944		$	257,810,222		$	728,406,476
NET ASSETS WERE COMPRISED OF:
Paid-in capital		$	24,113,119		$	1,571,402,860		$	173,157,409		$	269,840,667
Undistributed net investment income			792,003			31,608,510			2,205,163			3,167,030
Accumulated net realized gain (loss)			6,777,309			(65,013,182)			11,201,649			29,231,583
Net unrealized appreciation			19,213,285			225,659,756			71,246,001			426,167,196
NET ASSETS		$	50,895,716		$	1,763,657,944		$	257,810,222		$	728,406,476
+ Including securities loaned at value		$	—		$	17,763,182		$	4,311,386		$	3,413,567
* Cost of investments in securities		$	29,793,131		$	1,462,300,582		$	178,073,752		$	286,409,746
** Cost of short-term investments		$	100,000		$	80,958,631		$	5,944,603		$	18,459,951
*** Cost of foreign currencies		$	168,216		$	352,837		$	578,433		$	—
**** Cost of payable for foreign cash collateral for futures		$	54,656		$	—		$	100,300		$	—

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited) (continued)

	Voya Hang Seng Index Portfolio			Voya International Index Portfolio			Voya Japan TOPIX Index® Portfolio			Voya Russell™ Large Cap Growth Index Portfolio
Class ADV
Net assets		$	827,205		$	623,309,281		$	9,585,740		$	4,565
Shares authorized			100,000,000			250,000,000			100,000,000			100,000,000
Par value		$	0.001		$	0.001		$	0.001		$	0.001
Shares outstanding			57,306			62,432,091			861,121			126
Net asset value and redemption price per share		$	14.43		$	9.98		$	11.13		$	36.12
Class I
Net assets		$	22,281,857		$	348,499,642		$	248,224,482		$	366,600,369
Shares authorized			100,000,000			200,000,000			100,000,000			100,000,000
Par value		$	0.001		$	0.001		$	0.001		$	0.001
Shares outstanding			1,538,907			34,243,211			22,085,779			10,078,744
Net asset value and redemption price per share		$	14.48		$	10.18		$	11.24		$	36.37
Class P2
Net assets			n/a		$	716,637,591			n/a			n/a
Shares authorized			n/a			100,000,000			n/a			n/a
Par value			n/a		$	0.001			n/a			n/a
Shares outstanding			n/a			70,190,946			n/a			n/a
Net asset value and redemption price per share			n/a		$	10.21			n/a			n/a
Class S
Net assets		$	27,786,654		$	73,798,373			n/a		$	361,801,542
Shares authorized			100,000,000			100,000,000			n/a			100,000,000
Par value		$	0.001		$	0.001			n/a		$	0.001
Shares outstanding			1,920,525			7,296,994			n/a			9,995,388
Net asset value and redemption price per share		$	14.47		$	10.11			n/a		$	36.20
Class S2
Net assets			n/a		$	1,413,057			n/a			n/a
Shares authorized			n/a			100,000,000			n/a			n/a
Par value			n/a		$	0.001			n/a			n/a
Shares outstanding			n/a			139,895			n/a			n/a
Net asset value and redemption price per share			n/a		$	10.10			n/a			n/a

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited)

	Voya Russell™ Large Cap Index Portfolio			Voya Russell™ Large Cap Value Index Portfolio			Voya Russell™ Mid Cap Growth Index Portfolio			Voya Russell™ Mid Cap Index Portfolio
ASSETS:
Investments in securities at fair value+*		$	884,474,885		$	383,127,299		$	305,448,163		$	1,547,937,057
Investments in affiliates at fair value**			—			—			58,609			1,670,051
Short-term investments at fair value***			11,453,992			2,711,000			14,393,163			38,292,939
Cash			244,660			89,824			142,764			672,721
Cash collateral for futures			445,396			136,920			138,600			480,385
Receivables:
Fund shares sold			558,439			78,857			6,141			534,907
Dividends			653,036			383,827			128,472			1,961,946
Interest			230			63			—			71
Foreign tax reclaims			—			920			—			—
Prepaid expenses			8,921			4,089			3,102			18,828
Reimbursement due from manager			14,122			—			8,623			95,236
Other assets			74,832			9,008			9,618			62,678
Total assets			897,928,513			386,541,807			320,337,255			1,591,726,819
LIABILITIES:
Payable for fund shares redeemed			304,865			320,280			156,189			7,333,413
Payable upon receipt of securities loaned			2,293,992			—			11,251,163			30,556,939
Payable for investment management fees			261,677			117,634			104,475			535,570
Payable for distribution and shareholder service fees			139,288			60,727			61,947			143,318
Payable for directors fees			4,543			2,047			1,582			9,233
Payable to directors under the deferred compensation plan (Note 6)			74,832			9,008			9,618			62,678
Other accrued expenses and liabilities			95,831			32,787			156,828			234,659
Total liabilities			3,175,028			542,483			11,741,802			38,875,810
NET ASSETS		$	894,753,485		$	385,999,324		$	308,595,453		$	1,552,851,009
NET ASSETS WERE COMPRISED OF:
Paid-in capital		$	300,673,838		$	278,513,694		$	156,919,284		$	581,687,462
Undistributed net investment income			6,264,747			4,023,055			753,289			10,494,754
Accumulated net realized gain			16,081,236			7,644,837			26,151,392			198,882,329
Net unrealized appreciation			571,733,664			95,817,738			124,771,488			761,786,464
NET ASSETS		$	894,753,485		$	385,999,324		$	308,595,453		$	1,552,851,009
+ Including securities loaned at value		$	2,245,501		$	—		$	10,944,619		$	29,742,044
* Cost of investments in securities		$	312,528,107		$	287,236,266		$	180,614,847		$	786,773,599
** Cost of investments in affiliates		$	—		$	—		$	47,645		$	966,638
*** Cost of short-term investments		$	11,453,992		$	2,711,000		$	14,393,163		$	38,292,939

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited) (continued)

	Voya Russell™ Large Cap Index Portfolio			Voya Russell™ Large Cap Value Index Portfolio			Voya Russell™ Mid Cap Growth Index Portfolio			Voya Russell™ Mid Cap Index Portfolio
Class ADV
Net assets		$	49,607,783		$	3,678			n/a		$	178,125,801
Shares authorized			100,000,000			100,000,000			n/a			100,000,000
Par value		$	0.001		$	0.001			n/a		$	0.001
Shares outstanding			2,376,838			173			n/a			12,604,978
Net asset value and redemption price per share		$	20.87		$	21.28			n/a		$	14.13
Class I
Net assets		$	279,167,506		$	96,559,527		$	16,903,554		$	874,735,661
Shares authorized			400,000,000			100,000,000			100,000,000			300,000,000
Par value		$	0.001		$	0.001		$	0.001		$	0.001
Shares outstanding			13,143,331			4,499,952			512,986			59,903,338
Net asset value and redemption price per share		$	21.24		$	21.46		$	32.95		$	14.60
Class P2
Net assets			n/a			n/a			n/a		$	181,605,687
Shares authorized			n/a			n/a			n/a			100,000,000
Par value			n/a			n/a			n/a		$	0.001
Shares outstanding			n/a			n/a			n/a			12,397,443
Net asset value and redemption price per share			n/a			n/a			n/a		$	14.65
Class S
Net assets		$	565,063,090		$	289,436,119		$	289,977,955		$	302,365,452
Shares authorized			100,000,000			100,000,000			100,000,000			100,000,000
Par value		$	0.001		$	0.001		$	0.001		$	0.001
Shares outstanding			26,762,481			13,569,642			8,816,631			20,948,700
Net asset value and redemption price per share		$	21.11		$	21.33		$	32.89		$	14.43
Class S2
Net assets		$	915,106			n/a		$	1,713,944		$	16,018,408
Shares authorized			100,000,000			n/a			100,000,000			100,000,000
Par value		$	0.001			n/a		$	0.001		$	0.001
Shares outstanding			42,134			n/a			52,187			1,125,382
Net asset value and redemption price per share		$	21.72			n/a		$	32.84		$	14.23

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited)

	Voya Russell™ Small Cap Index Portfolio			Voya U.S. Bond Index Portfolio
ASSETS:
Investments in securities at fair value+*		$	879,516,921		$	3,482,458,299
Short-term investments at fair value**			108,536,025			332,921,072
Cash			245,456			971,400
Cash collateral for futures			1,224,860			7,978
Receivables:
Investment securities sold			—			130,039,814
Investment securities sold on a delayed-delivery or when-issued basis			—			5,956,892
Fund shares sold			357,854			1,599,517
Dividends			856,913			18,260
Interest			—			20,212,015
Prepaid expenses			9,229			32,685
Reimbursement due from manager			26,859			175,983
Other assets			34,399			120,369
Total assets			990,808,516			3,974,514,284
LIABILITIES:
Payable for investment securities purchased			—			216,460,318
Payable for investment securities purchased on a delayed-delivery or when-issued basis			—			322,379,712
Payable for fund shares redeemed			10,692,850			46,092,668
Payable upon receipt of securities loaned			76,348,025			60,151,217
Cash received as collateral for delayed-delivery or when-issued securities (Note 2)			—			955,000
Payable for investment management fees			327,967			1,053,772
Payable for distribution and shareholder service fees			102,739			49,604
Payable for directors fees			4,676			16,845
Payable to directors under the deferred compensation plan (Note 6)			34,399			120,369
Other accrued expenses and liabilities			93,735			363,731
Total liabilities			87,604,391			647,643,236
NET ASSETS		$	903,204,125		$	3,326,871,048
NET ASSETS WERE COMPRISED OF:
Paid-in capital		$	489,772,517		$	3,370,617,236
Undistributed net investment income			4,118,914			8,396,813
Accumulated net realized gain (loss)			77,201,773			(24,268,074)
Net unrealized appreciation (depreciation)			332,110,921			(27,874,927)
NET ASSETS		$	903,204,125		$	3,326,871,048
+ Including securities loaned at value		$	74,223,433		$	58,842,595
* Cost of investments in securities		$	546,872,881		$	3,510,311,087
** Cost of short-term investments		$	108,536,025		$	332,943,575

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited) (continued)

	Voya Russell™ Small Cap Index Portfolio			Voya U.S. Bond Index Portfolio
Class ADV
Net assets		$	116,768,788		$	29,448,187
Shares authorized			100,000,000			100,000,000
Par value		$	0.001		$	0.001
Shares outstanding			7,666,781			2,878,287
Net asset value and redemption price per share		$	15.23		$	10.23
Class I
Net assets		$	453,437,282		$	2,351,235,024
Shares authorized			100,000,000			700,000,000
Par value		$	0.001		$	0.001
Shares outstanding			28,810,160			228,881,313
Net asset value and redemption price per share		$	15.74		$	10.27
Class P2
Net assets		$	79,362,108		$	765,413,368
Shares authorized			100,000,000			100,000,000
Par value		$	0.001		$	0.001
Shares outstanding			5,020,354			74,488,245
Net asset value and redemption price per share		$	15.81		$	10.28
Class S
Net assets		$	245,169,114		$	178,184,991
Shares authorized			100,000,000			100,000,000
Par value		$	0.001		$	0.001
Shares outstanding			15,711,474			17,395,625
Net asset value and redemption price per share		$	15.60		$	10.24
Class S2
Net assets		$	8,466,833		$	2,589,478
Shares authorized			100,000,000			100,000,000
Par value		$	0.001		$	0.001
Shares outstanding			552,272			252,715
Net asset value and redemption price per share		$	15.33		$	10.25

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF OPERATIONS for the six months ended June 30, 2018 (Unaudited)

	Voya Australia Index Portfolio			Voya Emerging Markets Index Portfolio			Voya Euro STOXX 50® Index Portfolio			Voya FTSE 100 Index® Portfolio
INVESTMENT INCOME:
Dividends, net of foreign taxes withheld*		$	2,042,879		$	9,066,399		$	9,314,917		$	6,128,970
Interest, net of foreign taxes withheld*			1,005			19,867			6,158			4,171
Securities lending income, net			15,301			47,110			90,458			35,054
Total investment income			2,059,185			9,133,376			9,411,533			6,168,195
EXPENSES:
Investment management fees			347,185			2,433,752			1,332,276			914,773
Distribution and shareholder service fees:
Class ADV			—			—			61,359			14,129
Class S			—			5			—			—
Transfer agent fees			85			936			299			246
Shareholder reporting expense			543			9,698			7,240			4,706
Professional fees			7,783			42,539			14,480			11,488
Custody and accounting expense			51,947			392,108			65,793			45,719
Directors fees			2,000			15,101			7,676			5,271
License fee			7,439			112,325			57,096			27,312
Miscellaneous expense			4,465			17,059			11,608			9,131
Interest expense			440			964			1,064			1,376
Total expenses			421,887			3,024,487			1,558,891			1,034,151
Waived and reimbursed fees			(173,592)			(1,470,410)			(666,134)			(457,384)
Net expenses			248,295			1,554,077			892,757			576,767
Net investment income			1,810,890			7,579,299			8,518,776			5,591,428
REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments			68,442			5,235,719			2,507,676			6,554,602
Forward foreign currency contracts			(207,407)			24,364			(1,048,708)			(132,087)
Foreign currency related transactions			70,434			(225,058)			285,294			(81,695)
Futures			119,702			(1,724,665)			219,816			579,378
Net realized gain			51,171			3,310,360			1,964,078			6,920,198
Net change in unrealized appreciation (depreciation) on:
Investments (net of Indian capital gains tax accrued#)			(2,677,443)			(66,859,269)			(24,451,214)			(13,789,541)
Forward foreign currency contracts			(16,622)			(1)			(16,566)			(22,134)
Foreign currency related transactions			(11,876)			(25,682)			(53,233)			(26,641)
Futures			28,883			(1,570,211)			(82,423)			(61,389)
Net change in unrealized appreciation (depreciation)			(2,677,058)			(68,455,163)			(24,603,436)			(13,899,705)
Net realized and unrealized loss			(2,625,887)			(65,144,803)			(22,639,358)			(6,979,507)
Decrease in net assets resulting from operations		$	(814,997)		$	(57,565,504)		$	(14,120,582)		$	(1,388,079)
* Foreign taxes withheld		$	29,458		$	1,091,836		$	1,487,882		$	88,099
# Foreign taxes accrued on Indian investments		$	—		$	567,934		$	—		$	—

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF OPERATIONS for the six months ended June 30, 2018 (Unaudited)

	Voya Hang Seng Index Portfolio			Voya International Index Portfolio			Voya Japan TOPIX Index® Portfolio			Voya Russell™ Large Cap Growth Index Portfolio
INVESTMENT INCOME:
Dividends, net of foreign taxes withheld*		$	1,027,102		$	35,695,143		$	2,813,435		$	5,121,293
Interest, net of foreign taxes withheld*			180			18,315			2,212			1,831
Securities lending income, net			655			429,836			42,123			19,184
Other			—			—			—			2,267
Total investment income			1,027,937			36,143,294			2,857,770			5,144,575
EXPENSES:
Investment management fees			238,877			3,895,800			1,000,619			1,767,057
Distribution and shareholder service fees:
Class ADV			2,404			1,664,140			27,129			11
Class S			38,269			98,307			—			441,387
Class S2			—			2,734			—			—
Transfer agent fees			108			1,915			259			767
Shareholder reporting expense			2,413			34,440			5,973			19,548
Professional fees			6,935			48,005			12,127			21,480
Custody and accounting expense			41,234			307,094			64,888			41,020
Directors fees			1,376			34,553			5,765			14,431
License fee			13,650			257,014			8,577			—
Miscellaneous expense			6,178			27,149			9,937			16,002
Interest expense			624			726			2,039			112
Total expenses			352,068			6,371,877			1,137,313			2,321,815
Waived and reimbursed fees			(119,438)			(1,724,427)			(500,307)			(357,803)
Net expenses			232,630			4,647,450			637,006			1,964,012
Net investment income			795,307			31,495,844			2,220,764			3,180,563
REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments			9,247,545			(2,293,125)			16,731,272			29,381,242
Forward foreign currency contracts			(6,489)			—			(3,767)			—
Foreign currency related transactions			(1,080)			(169,422)			1,406			—
Futures			(4,141)			597,152			(61,770)			18,347
Net realized gain (loss)			9,235,835			(1,865,395)			16,667,141			29,399,589
Net change in unrealized appreciation (depreciation) on:
Investments			(10,437,130)			(75,413,379)			(23,553,373)			19,270,158
Forward foreign currency contracts			768			—			(9,412)			—
Foreign currency related transactions			(56)			(135,397)			(7,803)			—
Futures			(13,090)			(2,842,109)			(14,853)			(296,856)
Net change in unrealized appreciation (depreciation)			(10,449,508)			(78,390,885)			(23,585,441)			18,973,302
Net realized and unrealized gain (loss)			(1,213,673)			(80,256,280)			(6,918,300)			48,372,891
Increase (decrease) in net assets resulting from operations		$	(418,366)		$	(48,760,436)		$	(4,697,536)		$	51,553,454
* Foreign taxes withheld		$	27,812		$	4,170,284		$	399,210		$	—

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF OPERATIONS for the six months ended June 30, 2018 (Unaudited)

	Voya Russell™ Large Cap Index Portfolio			Voya Russell™ Large Cap Value Index Portfolio			Voya Russell™ Mid Cap Growth Index Portfolio			Voya Russell™ Mid Cap Index Portfolio
INVESTMENT INCOME:
Dividends, net of foreign taxes withheld*		$	8,756,604		$	5,233,469		$	1,675,005		$	14,348,256
Interest			2,149			823			635			4,862
Dividends from affiliates			—			—			20			928
Securities lending income, net			13,576			412			40,774			130,930
Settlement income (Note 13)			—			—			—			234,477
Other			4,276			—			45,448			—
Total investment income			8,776,605			5,234,704			1,761,882			14,719,453
EXPENSES:
Investment management fees			1,577,142			935,963			784,304			3,753,466
Distribution and shareholder service fees:
Class ADV			115,399			11			—			447,749
Class S			724,790			381,476			367,674			388,205
Class S2			2,106			—			3,416			32,178
Transfer agent fees			732			479			250			1,304
Shareholder reporting expense			22,625			15,500			10,830			38,010
Professional fees			25,521			16,945			9,955			54,548
Custody and accounting expense			51,585			32,390			21,600			112,981
Directors fees			18,174			8,187			6,326			36,929
Miscellaneous expense			20,441			19,505			7,717			35,768
Interest expense			166			505			387			40,732
Total expenses			2,558,681			1,410,961			1,212,459			4,941,870
Waived and reimbursed fees			(85,086)			(202,996)			(210,242)			(633,469)
Net expenses			2,473,595			1,207,965			1,002,217			4,308,401
Net investment income			6,303,010			4,026,739			759,665			10,411,052
REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments			27,262,558			11,077,774			26,811,706			210,178,667
Affiliates			—			—			492			209,914
Futures			857,339			(86,840)			(63,875)			991,381
Net realized gain			28,119,897			10,990,934			26,748,323			211,379,962
Net change in unrealized appreciation (depreciation) on:
Investments			(9,370,375)			(25,622,434)			(12,095,785)			(183,137,151)
Affiliates			—			—			(3,481)			(266,949)
Futures			(238,626)			(83,716)			(61,002)			(86,309)
Net change in unrealized appreciation (depreciation)			(9,609,001)			(25,706,150)			(12,160,268)			(183,490,409)
Net realized and unrealized gain (loss)			18,510,896			(14,715,216)			14,588,055			27,889,553
Increase (decrease) in net assets resulting from operations		$	24,813,906		$	(10,688,477)		$	15,347,720		$	38,300,605
* Foreign taxes withheld		$	—		$	—		$	187		$	2,521

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF OPERATIONS for the six months ended June 30, 2018 (Unaudited)

	Voya Russell™ Small Cap Index Portfolio			Voya U.S. Bond Index Portfolio
INVESTMENT INCOME:
Dividends, net of foreign taxes withheld*		$	5,338,281		$	68,654
Interest, net of foreign taxes withheld*			3,037			45,417,170
Securities lending income, net			852,854			203,682
Settlement income (Note 13)			374,848			—
Total investment income			6,569,020			45,689,506
EXPENSES:
Investment management fees			1,993,880			6,361,543
Distribution and shareholder service fees:
Class ADV			279,371			74,223
Class S			294,701			225,906
Class S2			15,888			5,078
Transfer agent fees			791			2,240
Shareholder reporting expense			19,910			56,110
Professional fees			25,702			91,702
Custody and accounting expense			56,110			196,085
Directors fees			18,701			67,381
Miscellaneous expense			18,340			61,251
Interest expense			24,516			174
Total expenses			2,747,910			7,141,693
Waived and reimbursed fees			(209,988)			(1,051,620)
Net expenses			2,537,922			6,090,073
Net investment income			4,031,098			39,599,433
REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments			78,563,642			(19,265,254)
Futures			610,574			14,131
Swaps			—			(720)
Net realized gain (loss)			79,174,216			(19,251,843)
Net change in unrealized appreciation (depreciation) on:
Investments			(17,081,987)			(82,354,797)
Futures			(596,745)			(3,497)
Net change in unrealized appreciation (depreciation)			(17,678,732)			(82,358,294)
Net realized and unrealized gain (loss)			61,495,484			(101,610,137)
Increase (decrease) in net assets resulting from operations		$	65,526,582		$	(62,010,704)
* Foreign taxes withheld		$	850		$	19

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Australia Index Portfolio						Voya Emerging Markets Index Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	1,810,890		$	4,695,550		$	7,579,299		$	12,138,731
Net realized gain (loss)			51,171			(1,803,191)			3,310,360			10,666,645
Net change in unrealized appreciation (depreciation)			(2,677,058)			19,361,539			(68,455,163)			174,890,021
Increase (decrease) in net assets resulting from operations			(814,997)			22,253,898			(57,565,504)			197,695,397
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class I			(5,446,682)			(4,731,859)			(10,859,397)			(7,793,282)
Class P2			—			—			(6,287,863)			(2,123,366)
Class S			—			—			(82)			(28)
Total distributions			(5,446,682)			(4,731,859)			(17,147,342)			(9,916,676)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			17,052,140			258,018			290,237,306			328,368,074
Reinvestment of distributions			5,446,682			4,731,859			17,147,262			9,916,648
			22,498,822			4,989,877			307,384,568			338,284,722
Cost of shares redeemed			(9,864,171)			(63,180,337)			(112,931,718)			(332,222,304)
Net increase (decrease) in net assets resulting from capital share transactions			12,634,651			(58,190,460)			194,452,850			6,062,418
Net increase (decrease) in net assets			6,372,972			(40,668,421)			119,740,004			193,841,139
NET ASSETS:
Beginning of year or period			101,685,013			142,353,434			722,304,881			528,463,742
End of year or period		$	108,057,985		$	101,685,013		$	842,044,885		$	722,304,881
Undistributed net investment income at end of year or period		$	1,797,426		$	5,433,218		$	7,569,539		$	17,137,582

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Euro STOXX 50® Index Portfolio						Voya FTSE 100 Index® Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	8,518,776		$	10,010,582		$	5,591,428		$	10,952,409
Net realized gain			1,964,078			24,859,768			6,920,198			7,120,632
Net change in unrealized appreciation (depreciation)			(24,603,436)			53,799,615			(13,899,705)			38,852,399
Increase (decrease) in net assets resulting from operations			(14,120,582)			88,669,965			(1,388,079)			56,925,440
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			(555,015)			(758,294)			(264,678)			(156,667)
Class I			(9,877,554)			(14,247,161)			(11,831,026)			(10,695,400)
Net realized gains:
Class ADV			(410,062)			—			(156,025)			(159,191)
Class I			(5,904,562)			—			(6,356,622)			(9,218,630)
Total distributions			(16,747,193)			(15,005,455)			(18,608,351)			(20,229,888)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			67,191,245			10,163,967			14,412,530			7,796,268
Reinvestment of distributions			16,747,193			15,005,455			18,608,351			20,229,888
			83,938,438			25,169,422			33,020,881			28,026,156
Cost of shares redeemed			(29,144,407)			(125,931,881)			(41,621,431)			(83,642,839)
Net increase (decrease) in net assets resulting from capital share transactions			54,794,031			(100,762,459)			(8,600,550)			(55,616,683)
Net increase (decrease) in net assets			23,926,256			(27,097,949)			(28,596,980)			(18,921,131)
NET ASSETS:
Beginning of year or period			378,079,438			405,177,387			277,692,821			296,613,952
End of year or period		$	402,005,694		$	378,079,438		$	249,095,841		$	277,692,821
Undistributed net investment income at end of year or period		$	8,461,285		$	10,375,078		$	5,564,741		$	12,069,017

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Hang Seng Index Portfolio						Voya International Index Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	795,307		$	2,374,665		$	31,495,844		$	36,012,982
Net realized gain (loss)			9,235,835			10,442,722			(1,865,395)			7,166,642
Net change in unrealized appreciation (depreciation)			(10,449,508)			15,899,200			(78,390,885)			297,250,989
Increase (decrease) in net assets resulting from operations			(418,366)			28,716,587			(48,760,436)			340,430,613
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			(38,463)			(5,079)			(14,583,530)			(14,094,484)
Class I			(1,796,621)			(797,783)			(9,657,691)			(7,342,600)
Class P2			—			—			(18,624,875)			(10,228,121)
Class S			(1,317,651)			(227,775)			(1,907,343)			(1,702,534)
Class S2			—			—			(33,601)			(22,970)
Net realized gains:
Class ADV			(109,572)			—			—			—
Class I			(4,545,992)			—			—			—
Class S			(3,516,444)			—			—			—
Total distributions			(11,324,743)			(1,030,637)			(44,807,040)			(33,390,709)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			3,920,959			5,359,977			255,996,478			792,397,453
Reinvestment of distributions			11,324,607			1,030,637			44,807,040			33,390,709
			15,245,566			6,390,614			300,803,518			825,788,162
Cost of shares redeemed			(26,189,371)			(55,044,926)			(127,192,846)			(773,675,206)
Net increase (decrease) in net assets resulting from capital share transactions			(10,943,805)			(48,654,312)			173,610,672			52,112,956
Net increase (decrease) in net assets			(22,686,914)			(20,968,362)			80,043,196			359,152,860
NET ASSETS:
Beginning of year or period			73,582,630			94,550,992			1,683,614,748			1,324,461,888
End of year or period		$	50,895,716		$	73,582,630		$	1,763,657,944		$	1,683,614,748
Undistributed net investment income at end of year or period		$	792,003		$	3,149,431		$	31,608,510		$	44,919,706

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Japan TOPIX Index® Portfolio						Voya Russell™ Large Cap Growth Index Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	2,220,764		$	4,413,166		$	3,180,563		$	6,715,644
Net realized gain			16,667,141			22,208,763			29,399,589			23,974,244
Net change in unrealized appreciation (depreciation)			(23,585,441)			44,416,479			18,973,302			144,576,841
Increase (decrease) in net assets resulting from operations			(4,697,536)			71,038,408			51,553,454			175,266,729
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			(192,808)			(157,582)			(28)			(28)
Class I			(6,290,315)			(5,911,316)			(3,793,744)			(3,662,493)
Class S			—			—			(2,891,343)			(3,112,736)
Net realized gains:
Class ADV			(803,058)			(264,492)			(150)			—
Class I			(20,315,529)			(6,771,234)			(12,096,405)			—
Class S			—			—			(11,857,475)			—
Total distributions			(27,601,710)			(13,104,624)			(30,639,145)			(6,775,257)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			9,958,879			26,904,567			28,894,359			63,878,019
Reinvestment of distributions			27,601,710			13,104,624			30,639,145			6,775,257
			37,560,589			40,009,191			59,533,504			70,653,276
Cost of shares redeemed			(50,609,196)			(87,350,308)			(49,631,066)			(107,017,299)
Net increase (decrease) in net assets resulting from capital share transactions			(13,048,607)			(47,341,117)			9,902,438			(36,364,023)
Net increase (decrease) in net assets			(45,347,853)			10,592,667			30,816,747			132,127,449
NET ASSETS:
Beginning of year or period			303,158,075			292,565,408			697,589,729			565,462,280
End of year or period		$	257,810,222		$	303,158,075		$	728,406,476		$	697,589,729
Undistributed net investment income at end of year or period		$	2,205,163		$	6,467,522		$	3,167,030		$	6,671,582

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Russell™ Large Cap Index Portfolio						Voya Russell™ Large Cap Value Index Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	6,303,010		$	13,116,464		$	4,026,739		$	8,447,360
Net realized gain			28,119,897			57,922,729			10,990,934			14,722,914
Net change in unrealized appreciation (depreciation)			(9,609,001)			106,288,570			(25,706,150)			30,781,551
Increase (decrease) in net assets resulting from operations			24,813,906			177,327,763			(10,688,477)			53,951,825
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			(582,781)			(451,986)			(71)			(58)
Class I			(4,457,407)			(3,979,934)			(2,281,966)			(2,147,826)
Class S			(7,830,458)			(8,558,244)			(6,148,809)			(6,208,489)
Class S2			(9,816)			(16,027)			—			—
Net realized gains:
Class ADV			—			—			(126)			—
Class I			—			—			(3,311,323)			—
Class S			—			—			(10,135,659)			—
Total distributions			(12,880,462)			(13,006,191)			(21,877,954)			(8,356,373)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			37,433,583			111,248,194			4,872,245			37,254,722
Reinvestment of distributions			12,880,462			13,006,191			21,877,954			8,356,373
			50,314,045			124,254,385			26,750,199			45,611,095
Cost of shares redeemed			(74,732,710)			(215,860,932)			(34,533,912)			(101,170,233)
Net decrease in net assets resulting from capital share transactions			(24,418,665)			(91,606,547)			(7,783,713)			(55,559,138)
Net increase (decrease) in net assets			(12,485,221)			72,715,025			(40,350,144)			(9,963,686)
NET ASSETS:
Beginning of year or period			907,238,706			834,523,681			426,349,468			436,313,154
End of year or period		$	894,753,485		$	907,238,706		$	385,999,324		$	426,349,468
Undistributed net investment income at end of year or period		$	6,264,747		$	12,842,199		$	4,023,055		$	8,427,162

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Russell™ Mid Cap Growth Index Portfolio						Voya Russell™ Mid Cap Index Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	759,665		$	1,269,876		$	10,411,052		$	23,736,558
Net realized gain			26,748,323			33,076,544			211,379,962			198,850,666
Net change in unrealized appreciation (depreciation)			(12,160,268)			30,611,021			(183,490,409)			96,748,213
Increase in net assets resulting from operations			15,347,720			64,957,441			38,300,605			319,335,437
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			—			—			(1,731,208)			(1,820,889)
Class I			(113,215)			(108,153)			(15,772,862)			(18,714,973)
Class P2			—			—			(2,488,304)			(2,408,580)
Class S			(1,149,728)			(1,955,102)			(3,480,142)			(4,346,491)
Class S2			(4,477)			(9,034)			(166,452)			(187,359)
Net realized gains:
Class ADV			—			—			(20,201,546)			(11,694,132)
Class I			(1,881,317)			—			(123,692,804)			(85,763,744)
Class P2			—			—			(19,496,594)			(11,037,625)
Class S			(30,866,506)			—			(33,955,463)			(23,741,058)
Class S2			(179,042)			—			(1,819,541)			(1,172,620)
Total distributions			(34,194,285)			(2,072,289)			(222,804,916)			(160,887,471)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			17,114,184			18,859,541			90,748,813			369,136,585
Reinvestment of distributions			34,194,285			2,072,289			222,804,916			160,887,471
			51,308,469			20,931,830			313,553,729			530,024,056
Cost of shares redeemed			(28,275,281)			(75,256,134)			(515,246,983)			(721,728,257)
Net increase (decrease) in net assets resulting from capital share transactions			23,033,188			(54,324,304)			(201,693,254)			(191,704,201)
Net increase (decrease) in net assets			4,186,623			8,560,848			(386,197,565)			(33,256,235)
NET ASSETS:
Beginning of year or period			304,408,830			295,847,982			1,939,048,574			1,972,304,809
End of year or period		$	308,595,453		$	304,408,830		$	1,552,851,009		$	1,939,048,574
Undistributed net investment income at end of year or period		$	753,289		$	1,261,044		$	10,494,754		$	23,722,670

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Russell™ Small Cap Index Portfolio						Voya U.S. Bond Index Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	4,031,098		$	8,065,840		$	39,599,433		$	72,796,653
Net realized gain (loss)			79,174,216			49,908,290			(19,251,843)			6,325,360
Net change in unrealized appreciation (depreciation)			(17,678,732)			62,223,789			(82,358,294)			24,915,097
Increase (decrease) in net assets resulting from operations			65,526,582			120,197,919			(62,010,704)			104,037,110
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			(726,964)			(747,306)			(275,727)			(580,135)
Class I			(4,888,715)			(3,869,156)			(28,088,123)			(62,237,271)
Class P2			(841,517)			(953,918)			(9,769,197)			(10,840,108)
Class S			(1,925,854)			(2,211,797)			(1,905,344)			(4,343,274)
Class S2			(50,291)			(69,062)			(24,871)			(50,877)
Net realized gains:
Class ADV			(6,492,641)			(7,425,450)			—			(84,667)
Class I			(25,534,331)			(24,768,581)			—			(6,637,048)
Class P2			(4,390,290)			(6,106,548)			—			(1,545,873)
Class S			(13,414,519)			(18,072,247)			—			(553,774)
Class S2			(447,398)			(657,093)			—			(6,592)
Total distributions			(58,712,520)			(64,881,158)			(40,063,262)			(86,879,619)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			52,866,315			341,052,048			481,337,618			1,292,737,202
Reinvestment of distributions			58,712,520			64,881,158			40,049,535			86,691,182
			111,578,835			405,933,206			521,387,153			1,379,428,384
Cost of shares redeemed			(165,697,749)			(308,109,317)			(472,927,137)			(1,358,431,789)
Net increase (decrease) in net assets resulting from capital share transactions			(54,118,914)			97,823,889			48,460,016			20,996,595
Net increase (decrease) in net assets			(47,304,852)			153,140,650			(53,613,950)			38,154,086
NET ASSETS:
Beginning of year or period			950,508,977			797,368,327			3,380,484,998			3,342,330,912
End of year or period		$	903,204,125		$	950,508,977		$	3,326,871,048		$	3,380,484,998
Undistributed net investment income at end of year or period		$	4,118,914		$	8,521,157		$	8,396,813		$	8,860,642

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited)

Selected data for a share of beneficial interest outstanding throughout each year or period.

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Australia Index Portfolio
Class I
06-30-18		9.30		0.16•		(0.26)		(0.10)		0.52		—		—		0.52		—		8.68		(1.14)		0.85		0.50		0.50		3.65		108,058		6
12-31-17		8.01		0.34•		1.25		1.59		0.30		—		—		0.30		—		9.30		20.27		0.81		0.46		0.46		3.89		101,685		3
12-31-16		7.89		0.30•		0.50		0.80		0.68		—		—		0.68		—		8.01		10.71		0.83		0.48		0.48		3.79		142,353		36
12-31-15		9.16		0.36•		(1.14)		(0.78)		0.49		—		—		0.49		—		7.89		(9.26)		0.80		0.45		0.45		4.17		114,337		8
12-31-14		10.01		0.40		(0.85)		(0.45)		0.40		—		—		0.40		—		9.16		(4.95)		0.78		0.43		0.43		4.12		190,588		12
12-31-13		10.34		0.44		(0.20)		0.24		0.57		—		—		0.57		—		10.01		1.91		0.77		0.42		0.42		4.27		203,923		13
Voya Emerging Markets Index Portfolio
Class I
06-30-18		12.85		0.12•		(1.01)		(0.89)		0.30		—		—		0.30		—		11.66		(7.10)		0.81		0.54		0.54		1.89		577,456		6
12-31-17		9.56		0.19•		3.28		3.47		0.18		—		—		0.18		—		12.85		36.65		0.82		0.55		0.55		1.71		502,979		18
12-31-16		8.85		0.18		0.73		0.91		0.20		—		—		0.20		—		9.56		10.48		0.82		0.57		0.57		1.80		528,461		34
12-31-15		10.65		0.20•		(1.78)		(1.58)		0.22		—		—		0.22		—		8.85		(15.28)		0.82		0.57		0.57		1.92		510,962		19
12-31-14		11.18		0.21		(0.58)		(0.37)		0.16		—		—		0.16		—		10.65		(3.37)		0.81		0.56		0.56		2.05		635,780		21
12-31-13		12.00		0.22•		(0.98)		(0.76)		0.01		0.05		—		0.06		—		11.18		(6.30)		0.82		0.57		0.57		2.03		606,455		19
Class P2
06-30-18		12.88		0.15•		(1.01)		(0.86)		0.30		—		—		0.30		—		11.72		(6.85)		0.81		0.15		0.15		2.31		264,586		6
05-03-17(5) - 12-31-17		10.99		0.20•		1.87		2.07		0.18		—		—		0.18		—		12.88		19.15		0.82		0.15		0.15		2.56		219,322		18
Class S
06-30-18		12.91		0.10•		(1.01)		(0.91)		0.27		—		—		0.27		—		11.73		(7.19)		1.06		0.79		0.79		1.54		4		6
12-31-17		9.55		0.17		3.28		3.45		0.09		—		—		0.09		—		12.91		36.35		1.07		0.80		0.80		1.52		4		18
12-31-16		8.82		0.20•		0.72		0.92		0.19		—		—		0.19		—		9.55		10.66		1.07		0.82		0.82		2.16		3		34
12-31-15		10.61		0.17•		(1.76)		(1.59)		0.20		—		—		0.20		—		8.82		(15.43)		1.07		0.82		0.82		1.73		11		19
12-31-14		11.14		0.21		(0.61)		(0.40)		0.13		—		—		0.13		—		10.61		(3.59)		1.06		0.81		0.81		1.84		3		21
12-31-13		11.97		0.15		(0.93)		(0.78)		—		0.05		—		0.05		—		11.14		(6.52)		1.07		0.82		0.82		1.38		3		19
Voya Euro STOXX 50® Index Portfolio
Class ADV
06-30-18		11.38		0.22•		(0.64)		(0.42)		0.26		0.19		—		0.45		—		10.51		(3.90)		1.29		0.94		0.94		3.92		22,395		3
12-31-17		9.48		0.20•		2.04		2.24		0.34		—		—		0.34		—		11.38		23.83		1.29		0.94		0.94		1.83		25,514		2
12-31-16		9.64		0.25•		(0.24)		0.01		0.17		—		—		0.17		—		9.48		0.16		1.29		0.94		0.94		2.75		22,343		37
12-31-15		10.39		0.24•		(0.69)		(0.45)		0.30		—		—		0.30		—		9.64		(4.64)		1.29		0.94		0.94		2.26		31,758		15
12-31-14		11.88		0.30•		(1.40)		(1.10)		0.39		—		—		0.39		—		10.39		(9.66)		1.29		0.94		0.94		2.63		28,159		13
12-31-13		9.90		0.21•		2.21		2.42		0.44		—		—		0.44		—		11.88		25.45		1.29		0.94		0.94		1.97		36,736		17

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Euro STOXX 50® Index Portfolio (continued)
Class I
06-30-18		11.49		0.26•		(0.65)		(0.39)		0.32		0.19		—		0.51		—		10.59		(3.62)		0.79		0.44		0.44		4.51		379,611		3
12-31-17		9.58		0.27•		2.04		2.31		0.40		—		—		0.40		—		11.49		24.34		0.79		0.44		0.44		2.51		352,566		2
12-31-16		9.74		0.31•		(0.25)		0.06		0.22		—		—		0.22		—		9.58		0.78		0.79		0.44		0.44		3.32		382,834		37
12-31-15		10.49		0.28•		(0.68)		(0.40)		0.35		—		—		0.35		—		9.74		(4.21)		0.79		0.44		0.44		2.63		397,346		15
12-31-14		11.96		0.37•		(1.41)		(1.04)		0.43		—		—		0.43		—		10.49		(9.18)		0.79		0.44		0.44		3.19		436,078		13
12-31-13		9.94		0.32•		2.17		2.49		0.47		—		—		0.47		—		11.96		26.09		0.79		0.44		0.44		3.09		496,801		17
Voya FTSE 100 Index® Portfolio
Class ADV
06-30-18		9.85		0.18•		(0.25)		(0.07)		0.42		0.25		—		0.67		—		9.11		(1.02)		1.28		0.93		0.93		3.86		5,997		5
12-31-17		8.66		0.30•		1.50		1.80		0.30		0.31		—		0.61		—		9.85		21.60		1.27		0.92		0.92		3.32		5,376		4
12-31-16		9.56		0.30•		(0.47)		(0.17)		0.40		0.33		—		0.73		—		8.66		(1.67)		1.27		0.92		0.92		3.41		4,826		22
12-31-15		11.29		0.32		(1.01)		(0.69)		0.73		0.31		—		1.04		—		9.56		(7.22)		1.27		0.92		0.92		3.06		6,484		8
12-31-14		13.59		0.69•		(1.47)		(0.78)		0.47		1.05		—		1.52		—		11.29		(6.85)		1.26		0.91		0.91		5.53		6,675		13
12-31-13		12.25		0.30•		1.89		2.19		0.57		0.28		—		0.85		—		13.59		18.86		1.27		0.92		0.92		2.43		6,057		8
Class I
06-30-18		9.94		0.21•		(0.26)		(0.05)		0.46		0.25		—		0.71		—		9.18		(0.81)		0.78		0.43		0.43		4.29		243,099		5
12-31-17		8.74		0.36•		1.51		1.87		0.36		0.31		—		0.67		—		9.94		22.24		0.77		0.42		0.42		3.88		272,317		4
12-31-16		9.65		0.34•		(0.46)		(0.12)		0.46		0.33		—		0.79		—		8.74		(1.17)		0.77		0.42		0.42		3.87		291,788		22
12-31-15		11.39		0.39•		(1.03)		(0.64)		0.79		0.31		—		1.10		—		9.65		(6.72)		0.77		0.42		0.42		3.61		334,645		8
12-31-14		13.68		0.81		(1.53)		(0.72)		0.52		1.05		—		1.57		—		11.39		(6.39)		0.76		0.41		0.41		6.45		412,428		13
12-31-13		12.31		0.42•		1.84		2.26		0.61		0.28		—		0.89		—		13.68		19.44		0.77		0.42		0.42		3.35		465,162		8
Voya Hang Seng Index Portfolio
Class ADV
06-30-18		17.59		0.17•		(0.47)		(0.30)		0.74		2.12		—		2.86		—		14.43		(2.74)		1.41		1.06		1.06		1.95		827		3
12-31-17		12.73		0.40•		4.54		4.94		0.08		—		—		0.08		—		17.59		38.97		1.37		1.02		1.02		2.60		1,026		9
12-31-16		13.14		0.30•		0.00*		0.30		0.50		0.21		—		0.71		—		12.73		2.85		1.36		1.16		1.16		2.41		905		17
12-31-15		14.22		0.31•		(1.02)		(0.71)		0.37		—		—		0.37		—		13.14		(5.52)		1.37		1.19		1.19		2.09		1,192		7
12-31-14		14.10		0.35•		0.08		0.43		0.31		—		—		0.31		—		14.22		3.23		1.37		1.25		1.25		2.47		1,647		11
12-31-13		14.12		0.27•		0.21		0.48		0.50		—		—		0.50		—		14.10		3.60		1.36		1.26		1.26		1.94		1,816		9
Class I
06-30-18		17.68		0.20•		(0.44)		(0.24)		0.84		2.12		—		2.96		—		14.48		(2.45)		0.91		0.56		0.56		2.34		22,282		3
12-31-17		12.81		0.41•		4.62		5.03		0.16		—		—		0.16		—		17.68		39.61		0.87		0.52		0.52		2.76		41,871		9
12-31-16		13.25		0.38•		(0.02)		0.36		0.59		0.21		—		0.80		—		12.81		3.35		0.86		0.66		0.66		2.98		68,223		17
12-31-15		14.34		0.40•		(1.02)		(0.62)		0.47		—		—		0.47		—		13.25		(5.00)		0.87		0.69		0.69		2.65		40,319		7
12-31-14		14.22		0.42•		0.07		0.49		0.37		—		—		0.37		—		14.34		3.69		0.87		0.75		0.75		2.96		73,751		11
12-31-13		14.23		0.32•		0.24		0.56		0.57		—		—		0.57		—		14.22		4.15		0.86		0.76		0.76		2.31		79,094		9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Hang Seng Index Portfolio (continued)
Class S
06-30-18		17.65		0.20•		(0.47)		(0.27)		0.79		2.12		—		2.91		—		14.47		(2.57)		1.16		0.81		0.81		2.35		27,787		3
12-31-17		12.78		0.45•		4.55		5.00		0.13		—		—		0.13		—		17.65		39.33		1.12		0.77		0.77		2.90		30,686		9
12-31-16		13.21		0.33•		0.00*		0.33		0.55		0.21		—		0.76		—		12.78		3.07		1.11		0.91		0.91		2.62		25,423		17
12-31-15		14.30		0.35•		(1.01)		(0.66)		0.43		—		—		0.43		—		13.21		(5.23)		1.12		0.94		0.94		2.40		30,748		7
12-31-14		14.17		0.36•		0.10		0.46		0.33		—		—		0.33		—		14.30		3.41		1.12		1.00		1.00		2.57		34,800		11
12-31-13		14.19		0.28•		0.24		0.52		0.54		—		—		0.54		—		14.17		3.84		1.11		1.01		1.01		2.06		40,783		9
Voya International Index Portfolio
Class ADV
06-30-18		10.51		0.17•		(0.47)		(0.30)		0.23		—		—		0.23		—		9.98		(2.92)		1.04		0.94		0.94		3.21		623,309		2
12-31-17		8.63		0.19•		1.88		2.07		0.19		—		—		0.19		—		10.51		24.19		1.03		0.94		0.94		2.00		692,747		4
12-31-16		8.83		0.20•		(0.18)		0.02		0.22		—		—		0.22		—		8.63		0.37		1.05		0.97		0.97		2.30		692,197		3
12-31-15		9.19		0.19•		(0.30)		(0.11)		0.25		—		—		0.25		—		8.83		(1.43)(a)		1.06		0.97		0.97		2.03		803,990		2
12-31-14		9.89		0.24•		(0.86)		(0.62)		0.08		—		—		0.08		—		9.19		(6.34)		1.04		0.97		0.97		2.47		917,139		6
12-31-13		8.35		0.17•		1.55		1.72		0.18		—		—		0.18		—		9.89		20.89		1.06		0.99		0.99		1.92		11,587		3
Class I
06-30-18		10.74		0.20•		(0.47)		(0.27)		0.29		—		—		0.29		—		10.18		(2.64)		0.54		0.45		0.45		3.79		348,500		2
12-31-17		8.81		0.26•		1.91		2.17		0.24		—		—		0.24		—		10.74		24.88		0.53		0.45		0.45		2.65		319,369		4
12-31-16		9.02		0.24•		(0.17)		0.07		0.28		—		—		0.28		—		8.81		0.83		0.55		0.48		0.48		2.72		557,788		3
12-31-15		9.37		0.24•		(0.29)		(0.05)		0.30		—		—		0.30		—		9.02		(0.88)(a)		0.56		0.48		0.48		2.51		473,681		2
12-31-14		10.04		0.32•		(0.91)		(0.59)		0.08		—		—		0.08		—		9.37		(5.94)		0.54		0.48		0.48		3.19		535,838		6
12-31-13		8.46		0.22•		1.57		1.79		0.21		—		—		0.21		—		10.04		21.45		0.56		0.50		0.50		2.41		540,135		3
Class P2
06-30-18		10.76		0.22•		(0.48)		(0.26)		0.29		—		—		0.29		—		10.21		(2.54)		0.54		0.15		0.15		4.14		716,638		2
05-03-17(5) - 12-31-17		9.79		0.16•		1.05		1.21		0.24		—		—		0.24		—		10.76		12.59		0.53		0.15		0.15		2.42		589,019		4
Class S
06-30-18		10.66		0.18•		(0.47)		(0.29)		0.26		—		—		0.26		—		10.11		(2.81)		0.79		0.70		0.70		3.45		73,798		2
12-31-17		8.75		0.22•		1.90		2.12		0.21		—		—		0.21		—		10.66		24.51		0.78		0.70		0.70		2.23		81,188		4
12-31-16		8.96		0.22•		(0.18)		0.04		0.25		—		—		0.25		—		8.75		0.55		0.80		0.73		0.73		2.55		73,054		3
12-31-15		9.30		0.21•		(0.28)		(0.07)		0.27		—		—		0.27		—		8.96		(1.07)(a)		0.81		0.73		0.73		2.25		86,837		2
12-31-14		9.97		0.32•		(0.93)		(0.61)		0.06		—		—		0.06		—		9.30		(6.18)		0.79		0.73		0.73		3.18		92,340		6
12-31-13		8.41		0.20•		1.55		1.75		0.19		—		—		0.19		—		9.97		21.09		0.81		0.75		0.75		2.24		122,813		3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya International Index Portfolio (continued)
Class S2
06-30-18		10.65		0.18•		(0.48)		(0.30)		0.25		—		—		0.25		—		10.10		(2.92)		0.94		0.85		0.85		3.41		1,413		2
12-31-17		8.71		0.20•		1.91		2.11		0.17		—		—		0.17		—		10.65		24.44		0.93		0.85		0.85		2.03		1,292		4
12-31-16		8.94		0.21•		(0.19)		0.02		0.25		—		—		0.25		—		8.71		0.37		0.98		0.88		0.88		2.50		1,424		3
12-31-15		9.26		0.19•		(0.28)		(0.09)		0.23		—		—		0.23		—		8.94		(1.25)(a)		1.06		0.88		0.88		1.99		1,498		2
12-31-14		9.93		0.29•		(0.91)		(0.62)		0.05		—		—		0.05		—		9.26		(6.29)		1.04		0.88		0.88		2.93		2,152		6
12-31-13		8.40		0.19•		1.54		1.73		0.20		—		—		0.20		—		9.93		20.89		1.06		0.90		0.90		2.06		2,705		3
Voya Japan TOPIX Index® Portfolio
Class ADV
06-30-18		12.57		0.07•		(0.32)		(0.25)		0.23		0.96		—		1.19		—		11.13		(2.48)		1.28		0.93		0.93		1.07		9,586		—
12-31-17		10.43		0.11•		2.47		2.58		0.16		0.28		—		0.44		—		12.57		25.41		1.28		0.93		0.93		0.95		11,532		8
12-31-16		10.70		0.11•		0.16		0.27		0.09		0.45		—		0.54		—		10.43		2.92		1.28		0.93		0.93		1.04		10,944		1
12-31-15		9.87		0.07•		0.97		1.04		0.09		0.12		—		0.21		—		10.70		10.50		1.26		0.91		0.91		0.69		23,399		16
12-31-14		11.40		0.08•		(0.71)		(0.63)		0.11		0.79		—		0.90		—		9.87		(5.42)		1.25		0.90		0.90		0.80		10,613		6
12-31-13		9.35		0.10•		2.21		2.31		0.21		0.05		—		0.26		—		11.40		24.80		1.27		0.92		0.92		0.92		14,855		5
Class I
06-30-18		12.71		0.10•		(0.31)		(0.21)		0.30		0.96		—		1.26		—		11.24		(2.19)		0.78		0.43		0.43		1.57		248,224		—
12-31-17		10.57		0.17•		2.49		2.66		0.24		0.28		—		0.52		—		12.71		25.93		0.78		0.43		0.43		1.45		291,626		8
12-31-16		10.84		0.17•		0.16		0.33		0.15		0.45		—		0.60		—		10.57		3.58		0.78		0.43		0.43		1.63		281,621		1
12-31-15		9.98		0.14		0.96		1.10		0.12		0.12		—		0.24		—		10.84		11.01		0.76		0.41		0.41		1.25		363,002		16
12-31-14		11.52		0.14		(0.73)		(0.59)		0.16		0.79		—		0.95		—		9.98		(4.98)		0.75		0.40		0.40		1.38		351,513		6
12-31-13		9.42		0.15•		2.23		2.38		0.23		0.05		—		0.28		—		11.52		25.44		0.77		0.42		0.42		1.45		386,305		5
Voya Russell™ Large Cap Growth Index Portfolio
Class ADV
06-30-18		35.05		0.10•		2.44		2.54		0.23		1.24		—		1.47		—		36.12		7.29		1.03		0.93		0.93		0.53		5		8
12-31-17		27.04		0.20		8.04		8.24		0.23		—		—		0.23		—		35.05		30.60		1.03		0.93		0.93		0.64		4		14
12-31-16		25.76		0.24		1.32		1.56		0.28		—		—		0.28		—		27.04		6.13		1.03		0.93		0.93		0.92		3		19
07-13-15(5) - 12-31-15		25.51		0.10•		0.15		0.25		—		—		—		—		—		25.76		0.98		1.03		0.93		0.93		0.86		3		19
Class I
06-30-18		35.35		0.18•		2.47		2.65		0.39		1.24		—		1.63		—		36.37		7.55		0.53		0.43		0.43		1.01		366,600		8
12-31-17		27.24		0.36•		8.10		8.46		0.35		—		—		0.35		—		35.35		31.26		0.53		0.43		0.43		1.15		354,275		14
12-31-16		25.90		0.37		1.31		1.68		0.34		—		—		0.34		—		27.24		6.57		0.53		0.43		0.43		1.34		284,194		19
12-31-15		24.35		0.35		1.49		1.84		0.29		—		—		0.29		—		25.90		7.60		0.53		0.43		0.43		1.34		283,736		19
12-31-14		21.82		0.31		2.51		2.82		0.29		—		—		0.29		—		24.35		13.10		0.58		0.48		0.48		1.29		280,622		21
12-31-13		16.78		0.28•		5.04		5.32		0.28		—		—		0.28		—		21.82		32.00		0.59		0.49		0.49		1.46		269,977		10

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Russell™ Large Cap Growth Index Portfolio (continued)
Class S
06-30-18		35.15		0.14•		2.45		2.59		0.30		1.24		—		1.54		—		36.20		7.43		0.78		0.68		0.68		0.76		361,802		8
12-31-17		27.10		0.28•		8.06		8.34		0.29		—		—		0.29		—		35.15		30.93		0.78		0.68		0.68		0.90		343,310		14
12-31-16		25.77		0.28		1.33		1.61		0.28		—		—		0.28		—		27.10		6.31		0.78		0.68		0.68		1.09		281,265		19
12-31-15		24.23		0.28		1.50		1.78		0.24		—		—		0.24		—		25.77		7.37		0.78		0.68		0.68		1.09		275,410		19
12-31-14		21.73		0.24•		2.50		2.74		0.24		—		—		0.24		—		24.23		12.76		0.83		0.73		0.73		1.05		261,517		21
12-31-13		16.71		0.23•		5.02		5.25		0.23		—		—		0.23		—		21.73		31.68		0.84		0.74		0.74		1.21		207,941		10
Voya Russell™ Large Cap Index Portfolio
Class ADV
06-30-18		20.60		0.11•		0.42		0.53		0.26		—		—		0.26		—		20.87		2.57		0.88		0.86		0.86		1.09		49,608		2
12-31-17		17.10		0.22•		3.51		3.73		0.23		—		—		0.23		—		20.60		21.96		0.88		0.87		0.87		1.17		43,874		6
12-31-16		15.71		0.22		1.40		1.62		0.23		—		—		0.23		—		17.10		10.45		0.88		0.87		0.87		1.37		34,466		5
12-31-15		15.66		0.20•		0.04		0.24		0.19		—		—		0.19		—		15.71		1.52		0.88		0.87		0.87		1.27		32,065		6
12-31-14		14.12		0.18		1.54		1.72		0.18		—		—		0.18		—		15.66		12.33		0.88		0.87		0.87		1.22		35,656		5
12-31-13		10.90		0.16•		3.23		3.39		0.17		—		—		0.17		—		14.12		31.39		0.88		0.87		0.87		1.30		32,824		6
Class I
06-30-18		20.99		0.17•		0.43		0.60		0.35		—		—		0.35		—		21.24		2.84		0.38		0.36		0.36		1.59		279,168		2
12-31-17		17.41		0.32		3.57		3.89		0.31		—		—		0.31		—		20.99		22.57		0.38		0.37		0.37		1.68		272,429		6
12-31-16		16.00		0.31•		1.41		1.72		0.31		—		—		0.31		—		17.41		10.95		0.38		0.37		0.37		1.87		220,228		5
12-31-15		15.93		0.29		0.04		0.33		0.26		—		—		0.26		—		16.00		2.09		0.38		0.37		0.37		1.78		186,401		6
12-31-14		14.34		0.26		1.57		1.83		0.24		—		—		0.24		—		15.93		12.91		0.38		0.37		0.37		1.72		188,647		5
12-31-13		11.04		0.23•		3.27		3.50		0.20		—		—		0.20		—		14.34		32.05		0.38		0.37		0.37		1.80		168,428		6
Class S
06-30-18		20.84		0.14•		0.42		0.56		0.29		—		—		0.29		—		21.11		2.69		0.63		0.61		0.61		1.34		565,063		2
12-31-17		17.29		0.27•		3.55		3.82		0.27		—		—		0.27		—		20.84		22.27		0.63		0.62		0.62		1.43		589,672		6
12-31-16		15.88		0.28		1.40		1.68		0.27		—		—		0.27		—		17.29		10.74		0.63		0.62		0.62		1.63		578,600		5
12-31-15		15.82		0.24•		0.05		0.29		0.23		—		—		0.23		—		15.88		1.79		0.63		0.62		0.62		1.53		566,225		6
12-31-14		14.25		0.22		1.55		1.77		0.20		—		—		0.20		—		15.82		12.59		0.63		0.62		0.62		1.47		620,477		5
12-31-13		10.98		0.19•		3.25		3.44		0.17		—		—		0.17		—		14.25		31.67		0.63		0.62		0.62		1.54		568,259		6
Class S2
06-30-18		21.38		0.13•		0.44		0.57		0.23		—		—		0.23		—		21.72		2.66		0.78		0.76		0.76		1.20		915		2
12-31-17		17.74		0.25•		3.64		3.89		0.25		—		—		0.25		—		21.38		22.08		0.78		0.77		0.77		1.27		1,264		6
12-31-16		16.05		0.25•		1.44		1.69		—		—		—		—		—		17.74		10.53		0.81		0.77		0.77		1.48		1,230		5
12-31-15		15.99		0.22•		0.04		0.26		0.20		—		—		0.20		—		16.05		1.64		0.88		0.77		0.77		1.37		1,290		6
12-31-14		14.41		0.20•		1.58		1.78		0.20		—		—		0.20		—		15.99		12.48		0.88		0.77		0.77		1.33		4,700		5
12-31-13		11.13		0.18•		3.29		3.47		0.19		—		—		0.19		—		14.41		31.51		0.88		0.77		0.77		1.42		3,355		6

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Russell™ Large Cap Value Index Portfolio
Class ADV
06-30-18		23.13		0.19•		(0.83)		(0.64)		0.44		0.77		—		1.21		—		21.28		(2.89)		1.01		0.91		0.91		1.66		4		11
12-31-17		20.81		0.35•		2.33		2.68		0.36		—		—		0.36		—		23.13		13.05		0.99		0.89		0.89		1.62		4		13
12-31-16		18.64		0.36•		2.37		2.73		0.27		0.29		—		0.56		—		20.81		15.10		0.99		0.89		0.89		1.91		3		16
07-13-15(5) - 12-31-15		19.40		0.16•		(0.92)		(0.76)		—		—		—		—		—		18.64		(3.92)		1.02		0.92		0.92		1.84		3		23
Class I
06-30-18		23.34		0.25•		(0.83)		(0.58)		0.53		0.77		—		1.30		—		21.46		(2.58)		0.51		0.41		0.41		2.17		96,560		11
12-31-17		21.01		0.47		2.31		2.78		0.45		—		—		0.45		—		23.34		13.46		0.49		0.39		0.39		2.12		105,552		13
12-31-16		18.77		0.49		2.36		2.85		0.32		0.29		—		0.61		—		21.01		15.64		0.49		0.39		0.39		2.38		97,341		16
12-31-15		20.03		0.41•		(1.08)		(0.67)		0.33		0.26		—		0.59		—		18.77		(3.50)		0.52		0.42		0.42		2.18		93,398		23
12-31-14		18.37		0.36•		1.87		2.23		0.29		0.28		—		0.57		—		20.03		12.42		0.58		0.48		0.48		1.89		51,205		12
12-31-13		14.30		0.31•		4.14		4.45		0.27		0.11		—		0.38		—		18.37		31.58		0.59		0.49		0.49		1.91		49,681		17
Class S
06-30-18		23.17		0.22•		(0.82)		(0.60)		0.47		0.77		—		1.24		—		21.33		(2.70)		0.76		0.66		0.66		1.92		289,436		11
12-31-17		20.86		0.41•		2.30		2.71		0.40		—		—		0.40		—		23.17		13.19		0.74		0.64		0.64		1.88		320,793		13
12-31-16		18.66		0.42		2.35		2.77		0.28		0.29		—		0.57		—		20.86		15.30		0.74		0.64		0.64		2.12		338,968		16
12-31-15		19.93		0.37•		(1.10)		(0.73)		0.28		0.26		—		0.54		—		18.66		(3.77)		0.77		0.67		0.67		1.94		314,071		23
12-31-14		18.28		0.31•		1.88		2.19		0.26		0.28		—		0.54		—		19.93		12.22		0.83		0.73		0.73		1.64		156,482		12
12-31-13		14.24		0.27•		4.12		4.39		0.24		0.11		—		0.35		—		18.28		31.28		0.84		0.74		0.74		1.66		112,469		17
Voya Russell™ Mid Cap Growth Index Portfolio
Class I
06-30-18		35.21		0.13•		1.70		1.83		0.23		3.86		—		4.09		—		32.95		5.21		0.54		0.40		0.40		0.72		16,904		30
12-31-17		28.51		0.21•		6.78		6.99		0.29		—		—		0.29		—		35.21		24.67		0.55		0.43		0.43		0.67		17,724		26
12-31-16		26.89		0.23•		1.66		1.89		0.27		—		—		0.27		—		28.51		7.11		0.56		0.43		0.43		0.86		9,834		27
12-31-15		27.28		0.20•		(0.35)		(0.15)		0.24		—		—		0.24		—		26.89		(0.59)		0.55		0.45		0.45		0.72		67,930		31
12-31-14		24.60		0.22•		2.57		2.79		0.11		—		—		0.11		—		27.28		11.41		0.58		0.48		0.48		0.85		111,456		35
12-31-13		18.37		0.14•		6.29		6.43		0.20		—		—		0.20		—		24.60		35.24		0.59		0.49		0.49		0.65		5,456		24
Class S
06-30-18		35.11		0.08•		1.70		1.78		0.14		3.86		—		4.00		—		32.89		5.08		0.79		0.65		0.65		0.47		289,978		30
12-31-17		28.43		0.13•		6.76		6.89		0.21		—		—		0.21		—		35.11		24.36		0.80		0.68		0.68		0.42		284,959		26
12-31-16		26.81		0.18		1.63		1.81		0.19		—		—		0.19		—		28.43		6.81		0.81		0.68		0.68		0.61		284,539		27
12-31-15		27.19		0.13		(0.33)		(0.20)		0.18		—		—		0.18		—		26.81		(0.79)		0.80		0.70		0.70		0.47		295,781		31
12-31-14		24.53		0.14•		2.58		2.72		0.06		—		—		0.06		—		27.19		11.09		0.83		0.73		0.73		0.53		313,923		35
12-31-13		18.32		0.08•		6.28		6.36		0.15		—		—		0.15		—		24.53		34.90		0.84		0.74		0.74		0.39		328,358		24

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Russell™ Mid Cap Growth Index Portfolio (continued)
Class S2
06-30-18		35.05		0.06•		1.69		1.75		0.10		3.86		—		3.96		—		32.84		4.98		0.94		0.80		0.80		0.32		1,714		30
12-31-17		28.39		0.08•		6.76		6.84		0.18		—		—		0.18		—		35.05		24.19		0.95		0.83		0.83		0.27		1,726		26
12-31-16		26.74		0.12		1.65		1.77		0.12		—		—		0.12		—		28.39		6.65		0.99		0.83		0.83		0.46		1,475		27
12-31-15		27.12		0.08•		(0.33)		(0.25)		0.13		—		—		0.13		—		26.74		(0.96)		1.05		0.85		0.85		0.30		1,366		31
12-31-14		24.46		0.11		2.57		2.68		0.02		—		—		0.02		—		27.12		10.98		1.08		0.88		0.88		0.39		2,211		35
12-31-13		18.28		0.05•		6.27		6.32		0.14		—		—		0.14		—		24.46		34.72		1.09		0.89		0.89		0.24		2,109		24
Voya Russell™ Mid Cap Index Portfolio
Class ADV
06-30-18		15.79		0.06•		0.23		0.29		0.15		1.80		—		1.95		—		14.13		1.88(b)		0.95		0.91		0.91		0.73(c)		178,126		7
12-31-17		14.63		0.12		2.29		2.41		0.17		1.08		—		1.25		—		15.79		17.39		0.94		0.93		0.93		0.81		181,784		9
12-31-16		14.97		0.12•		1.59		1.71		0.14		1.91		—		2.05		—		14.63		12.86		0.94		0.93		0.93		0.87		158,645		20
12-31-15		16.92		0.11•		(0.57)		(0.46)		0.15		1.34		—		1.49		—		14.97		(3.33)		0.93		0.93		0.93		0.71		139,302		11
12-31-14		15.70		0.11•		1.75		1.86		0.12		0.52		—		0.64		—		16.92		12.22		0.93		0.93		0.93		0.70		129,172		9
12-31-13		12.25		0.10•		3.90		4.00		0.13		0.42		—		0.55		—		15.70		33.51		0.93		0.93		0.93		0.69		94,802		14
Class I
06-30-18		16.28		0.09•		0.26		0.35		0.23		1.80		—		2.03		—		14.60		2.17(b)		0.45		0.41		0.41		1.19(c)		874,736		7
12-31-17		15.04		0.20•		2.36		2.56		0.24		1.08		—		1.32		—		16.28		17.97		0.44		0.43		0.43		1.28		1,191,269		9
12-31-16		15.34		0.22		1.60		1.82		0.21		1.91		—		2.12		—		15.04		13.40		0.44		0.43		0.43		1.38		1,432,810		20
12-31-15		17.28		0.19•		(0.57)		(0.38)		0.22		1.34		—		1.56		—		15.34		(2.82)		0.43		0.43		0.43		1.18		1,434,791		11
12-31-14		16.01		0.19•		1.78		1.97		0.18		0.52		—		0.70		—		17.28		12.70		0.43		0.43		0.43		1.17		1,794,154		9
12-31-13		12.45		0.16		3.99		4.15		0.17		0.42		—		0.59		—		16.01		34.20		0.43		0.43		0.43		1.17		1,951,563		14
Class P2
06-30-18		16.31		0.12•		0.25		0.37		0.23		1.80		—		2.03		—		14.65		2.30(b)		0.45		0.16		0.16		1.45(c)		181,606		7
05-03-17(5) - 12-31-17		15.87		0.17•		1.59		1.76		0.24		1.08		—		1.32		—		16.31		12.01		0.44		0.15		0.15		1.68		228,215		9
Class S
06-30-18		16.09		0.08•		0.24		0.32		0.18		1.80		—		1.98		—		14.43		2.03(b)		0.70		0.66		0.66		0.98(c)		302,365		7
12-31-17		14.88		0.16•		2.33		2.49		0.20		1.08		—		1.28		—		16.09		17.67		0.69		0.68		0.68		1.05		321,478		9
12-31-16		15.19		0.16•		1.61		1.77		0.17		1.91		—		2.08		—		14.88		13.12		0.69		0.68		0.68		1.12		364,384		20
12-31-15		17.13		0.15		(0.57)		(0.42)		0.18		1.34		—		1.52		—		15.19		(3.06)		0.68		0.68		0.68		0.93		323,348		11
12-31-14		15.88		0.14		1.77		1.91		0.14		0.52		—		0.66		—		17.13		12.44		0.68		0.68		0.68		0.93		365,134		9
12-31-13		12.36		0.13•		3.95		4.08		0.14		0.42		—		0.56		—		15.88		33.88		0.68		0.68		0.68		0.93		309,018		14

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Russell™ Mid Cap Index Portfolio (continued)
Class S2
06-30-18		15.89		0.06•		0.24		0.30		0.16		1.80		—		1.96		—		14.23		1.93(b)		0.85		0.81		0.81		0.83(c)		16,018		7
12-31-17		14.71		0.15		2.28		2.43		0.17		1.08		—		1.25		—		15.89		17.47		0.84		0.83		0.83		0.91		16,303		9
12-31-16		15.03		0.14•		1.59		1.73		0.14		1.91		—		2.05		—		14.71		12.99		0.87		0.83		0.83		0.96		16,466		20
12-31-15		16.97		0.13		(0.57)		(0.44)		0.16		1.34		—		1.50		—		15.03		(3.23)		0.93		0.83		0.83		0.80		18,493		11
12-31-14		15.74		0.14		1.74		1.88		0.13		0.52		—		0.65		—		16.97		12.30		0.93		0.83		0.83		0.78		18,708		9
12-31-13		12.27		0.12•		3.92		4.04		0.15		0.42		—		0.57		—		15.74		33.74		0.93		0.83		0.83		0.81		17,880		14
Voya Russell™ Small Cap Index Portfolio
Class ADV
06-30-18		15.15		0.04•		1.05		1.09		0.10		0.91		—		1.01		—		15.23		7.35(d)		0.97		0.96		0.96		0.47(e)		116,769		10
12-31-17		14.48		0.08•		1.78		1.86		0.11		1.08		—		1.19		—		15.15		13.65		0.96		0.95		0.95		0.53		110,992		18
12-31-16		13.88		0.09•		2.34		2.43		0.13		1.70		—		1.83		—		14.48		20.56		0.96		0.95		0.95		0.68		98,458		11
12-31-15		16.12		0.09•		(0.79)		(0.70)		0.11		1.43		—		1.54		—		13.88		(5.03)		0.97		0.95		0.95		0.62		80,199		13
12-31-14		16.59		0.09•		0.55		0.64		0.11		1.00		—		1.11		—		16.12		4.38		0.96		0.95		0.95		0.56		74,405		12
12-31-13		12.64		0.09•		4.54		4.63		0.16		0.52		—		0.68		—		16.59		38.04		0.96		0.95		0.95		0.59		63,291		13
Class I
06-30-18		15.66		0.08•		1.08		1.16		0.17		0.91		—		1.08		—		15.74		7.59(d)		0.47		0.46		0.46		0.96(e)		453,437		10
12-31-17		14.91		0.15•		1.85		2.00		0.17		1.08		—		1.25		—		15.66		14.27		0.46		0.45		0.45		1.03		463,391		18
12-31-16		14.25		0.17		2.39		2.56		0.20		1.70		—		1.90		—		14.91		21.11		0.46		0.45		0.45		1.17		412,050		11
12-31-15		16.50		0.17•		(0.81)		(0.64)		0.18		1.43		—		1.61		—		14.25		(4.55)		0.47		0.45		0.45		1.09		392,955		13
12-31-14		16.93		0.19		0.55		0.74		0.17		1.00		—		1.17		—		16.50		4.93		0.46		0.45		0.45		1.04		590,477		12
12-31-13		12.86		0.16•		4.63		4.79		0.20		0.52		—		0.72		—		16.93		38.75		0.46		0.45		0.45		1.07		655,515		13
Class P2
06-30-18		15.70		0.10•		1.09		1.19		0.17		0.91		—		1.08		—		15.81		7.77(d)		0.47		0.16		0.16		1.22(e)		79,362		10
05-03-17(5) - 12-31-17		15.34		0.14•		1.47		1.61		0.17		1.08		—		1.25		—		15.70		11.34		0.46		0.15		0.15		1.38		125,069		18
Class S
06-30-18		15.51		0.06•		1.07		1.13		0.13		0.91		—		1.04		—		15.60		7.44(d)		0.72		0.71		0.71		0.72(e)		245,169		10
12-31-17		14.78		0.11•		1.83		1.94		0.13		1.08		—		1.21		—		15.51		13.97		0.71		0.70		0.70		0.76		242,692		18
12-31-16		14.13		0.13		2.38		2.51		0.16		1.70		—		1.86		—		14.78		20.81		0.71		0.70		0.70		0.92		277,690		11
12-31-15		16.37		0.13		(0.80)		(0.67)		0.14		1.43		—		1.57		—		14.13		(4.78)		0.72		0.70		0.70		0.85		259,171		13
12-31-14		16.81		0.13•		0.57		0.70		0.14		1.00		—		1.14		—		16.37		4.66		0.71		0.70		0.70		0.79		283,518		12
12-31-13		12.78		0.12•		4.60		4.72		0.17		0.52		—		0.69		—		16.81		38.38		0.71		0.70		0.70		0.84		332,999		13

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Russell™ Small Cap Index Portfolio (continued)
Class S2
06-30-18		15.24		0.04•		1.06		1.10		0.10		0.91		—		1.01		—		15.33		7.38(d)		0.87		0.86		0.86		0.57(e)		8,467		10
12-31-17		14.55		0.09•		1.79		1.88		0.11		1.08		—		1.19		—		15.24		13.76		0.86		0.85		0.85		0.61		8,365		18
12-31-16		13.93		0.11		2.35		2.46		0.14		1.70		—		1.84		—		14.55		20.70		0.89		0.85		0.85		0.77		9,170		11
12-31-15		16.16		0.10		(0.79)		(0.69)		0.11		1.43		—		1.54		—		13.93		(4.94)		0.97		0.85		0.85		0.71		8,946		13
12-31-14		16.59		0.10•		0.57		0.67		0.10		1.00		—		1.10		—		16.16		4.55		0.96		0.85		0.85		0.63		9,627		12
12-31-13		12.64		0.10•		4.54		4.64		0.17		0.52		—		0.69		—		16.59		38.16		0.96		0.85		0.85		0.71		13,451		13
Voya U.S. Bond Index Portfolio
Class ADV
06-30-18		10.55		0.09•		(0.32)		(0.23)		0.09		—		—		0.09		—		10.23		(2.14)		0.91		0.90		0.90		1.83		29,448		125
12-31-17		10.49		0.18		0.10		0.28		0.19		0.03		—		0.22		—		10.55		2.68		0.91		0.90		0.90		1.67		31,475		155
12-31-16		10.48		0.17		0.03		0.20		0.17		0.02		—		0.19		—		10.49		1.87		0.91		0.90		0.90		1.57		32,600		203
12-31-15		10.73		0.15		(0.19)		(0.04)		0.19		0.02		—		0.21		—		10.48		(0.34)		0.91		0.90		0.90		1.49		25,747		213
12-31-14		10.35		0.14		0.40		0.54		0.16		—		—		0.16		—		10.73		5.22		0.91		0.91		0.91		1.31		18,505		209
12-31-13		10.94		0.11		(0.43)		(0.32)		0.16		0.11		—		0.27		—		10.35		(3.02)		0.90		0.90		0.90		1.07		12,857		197
Class I
06-30-18		10.59		0.12•		(0.32)		(0.20)		0.12		—		—		0.12		—		10.27		(1.88)		0.41		0.40		0.40		2.33		2,351,235		125
12-31-17		10.53		0.24		0.10		0.34		0.25		0.03		—		0.28		—		10.59		3.19		0.41		0.40		0.40		2.17		2,424,885		155
12-31-16		10.52		0.23		0.02		0.25		0.22		0.02		—		0.24		—		10.53		2.33		0.41		0.40		0.40		2.07		3,069,317		203
12-31-15		10.76		0.22		(0.20)		0.02		0.24		0.02		—		0.26		—		10.52		0.23		0.41		0.40		0.40		1.98		3,390,992		213
12-31-14		10.38		0.19		0.40		0.59		0.21		—		—		0.21		—		10.76		5.71		0.41		0.41		0.41		1.80		3,613,513		209
12-31-13		10.97		0.17		(0.44)		(0.27)		0.21		0.11		—		0.32		—		10.38		(2.54)		0.40		0.40		0.40		1.57		3,794,207		197
Class P2
06-30-18		10.59		0.13•		(0.31)		(0.18)		0.13		—		—		0.13		—		10.28		(1.66)		0.41		0.15		0.15		2.58		765,413		125
05-03-17(5) - 12-31-17		10.60		0.17•		0.03		0.20		0.18		0.03		—		0.21		—		10.59		1.89		0.41		0.15		0.15		2.34		731,605		155
Class S
06-30-18		10.56		0.11•		(0.32)		(0.21)		0.11		—		—		0.11		—		10.24		(2.01)		0.66		0.65		0.65		2.08		178,185		125
12-31-17		10.50		0.21		0.10		0.31		0.22		0.03		—		0.25		—		10.56		2.94		0.66		0.65		0.65		1.92		190,071		155
12-31-16		10.49		0.20		0.03		0.23		0.20		0.02		—		0.22		—		10.50		2.10		0.66		0.65		0.65		1.82		237,455		203
12-31-15		10.73		0.18		(0.18)		0.00*		0.22		0.02		—		0.24		—		10.49		(0.01)		0.66		0.65		0.65		1.74		248,290		213
12-31-14		10.35		0.16		0.40		0.56		0.18		—		—		0.18		—		10.73		5.47		0.66		0.66		0.66		1.56		240,485		209
12-31-13		10.94		0.14		(0.44)		(0.30)		0.18		0.11		—		0.29		—		10.35		(2.80)		0.65		0.65		0.65		1.33		201,854		197

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya U.S. Bond Index Portfolio (continued)
Class S2
06-30-18		10.56		0.10•		(0.31)		(0.21)		0.10		—		—		0.10		—		10.25		(1.99)		0.81		0.80		0.80		1.93		2,589		125
12-31-17		10.50		0.19		0.10		0.29		0.20		0.03		—		0.23		—		10.56		2.78		0.81		0.80		0.80		1.77		2,449		155
12-31-16		10.49		0.18		0.03		0.21		0.18		0.02		—		0.20		—		10.50		1.97		0.84		0.80		0.80		1.67		2,959		203
12-31-15		10.74		0.17		(0.20)		(0.03)		0.20		0.02		—		0.22		—		10.49		(0.26)		0.91		0.80		0.80		1.58		2,419		213
12-31-14		10.36		0.15		0.40		0.55		0.17		—		—		0.17		—		10.74		5.31		0.91		0.81		0.81		1.41		2,639		209
12-31-13		10.95		0.14		(0.45)		(0.31)		0.17		0.11		—		0.28		—		10.36		(2.91)		0.90		0.80		0.80		1.18		1,938		197

(1)

Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized.

(2)

Annualized for periods less than one year.

(3)

Ratios reflect operating expenses of a Portfolio. Expenses before reductions/additions do not reflect amounts reimbursed or recouped by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Portfolio during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by an Investment Adviser and/or Distributor or recoupment of previously reimbursed fees by an Investment Adviser, but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Portfolio. Net investment income (loss) is net of all such additions or reductions.

(4)

Ratios do not include fees and expenses charged under the variable annuity contract or variable life insurance policy.

(5)

Commencement of operations.

(a)

Excluding amounts related to a foreign currency settlement recorded in the fiscal year ended December 31, 2015, Voya International Index Portfolio’s total return would have been (1.48)%, (0.93)%, (1.17)% and (1.36)% for Classes ADV, I, S and S2, respectively.

(b)

Excluding amounts related to a securities lending settlement recorded in the period ended June 30, 2018, Voya Russell™ Mid Cap Index Portfolio’s total returns would have been 1.86%, 2.15%, 2.28%, 2.01% and 1.91% for Class ADV, I, P2, S and S2, respectively.

(c)

Excluding amounts related to a securities lending settlement recorded in the period ended June 30, 2018, Voya Russell™ Mid Cap Index Portfolio’s Net Investment Income Ratios would have been 0.71%, 1.16%, 1.42%, 0.96% and 0.81% for Class ADV, I, P2, S and S2, respectively.

(d)

Excluding amounts related to a securities lending settlement recorded in the period ended June 30, 2018, Voya Russell™ Small Cap Index Portfolio’s total returns would have been 7.31%, 7.55%, 7.73%, 7.40% and 7.34% for Class ADV, I, P2, S and S2, respectively.

(e)

Excluding amounts related to a securities lending settlement recorded in the period ended June 30, 2018, Voya Russell™ Small Cap Index Portfolio’s Net Investment Income Ratios would have been 0.39%, 0.88%, 1.14%, 0.63% and 0.49% for Class ADV, I, P2, S and S2, respectively.

•

Calculated using average number of shares outstanding throughout the year or period.

Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited)

NOTE 1 — ORGANIZATION

Voya Variable Portfolios, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (“1940 Act” or “Act”), as an open-end management investment company. The Company was incorporated under the laws of Maryland on June 4, 1996. There are nineteen active separate investment series that comprise the Company. The fourteen series (each, a “Portfolio” and collectively, the “Portfolios”) that are in this report are: Voya Australia Index Portfolio (“Australia Index”), Voya Emerging Markets Index Portfolio (“Emerging Markets Index”), Voya Euro STOXX 50® Index Portfolio (“Euro STOXX 50® Index”), Voya FTSE 100 Index® Portfolio (“FTSE 100 Index®”), Voya Hang Seng Index Portfolio (“Hang Seng Index”), Voya International Index Portfolio (“International Index”), Voya Japan TOPIX Index® Portfolio (“Japan TOPIX Index®”), Voya Russell™ Large Cap Growth Index Portfolio (“Russell™ Large Cap Growth Index”), Voya Russell™ Large Cap Index Portfolio (“Russell™ Large Cap Index”), Voya Russell™ Large Cap Value Index Portfolio (“Russell™ Large Cap Value Index”), Voya Russell™ Mid Cap Growth Index Portfolio (“Russell™ Mid Cap Growth Index”), Voya Russell™ Mid Cap Index Portfolio (“Russell™ Mid Cap Index”), Voya Russell™ Small Cap Index Portfolio (“Russell™ Small Cap Index”), and Voya U.S. Bond Index Portfolio (“U.S. Bond Index”). All of the Portfolios are diversified, except Australia Index and Hang Seng Index, which are non-diversified Portfolios of the Company. The investment objective of the Portfolios is described in the respective Portfolio’s Prospectus.

The classes of shares included in this report are: Adviser (“Class ADV”), Class I, Class P2, Class S, and Service 2 (“Class S2”); however, each Portfolio may not offer all share classes. With the exception of class specific matters, each class has equal voting rights as to voting privileges. For class specific proposals, only the applicable class would have voting privileges. The classes differ principally in the applicable distribution and shareholder service fees. Generally, shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a portfolio and earn income and realized gains/losses from a portfolio pro rata based on the daily ending net assets of each class, without distinction between share classes. Expenses that are specific to a portfolio or a class are charged directly to that portfolio or class. Other operating expenses shared by several portfolios are generally allocated among those portfolios based on average net assets. Distributions are determined separately for each class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class pro rata based on the shares outstanding of each class on the date of distribution. Differences in per share

dividend rates generally result from differences in separate class expenses, including distribution and shareholder service fees, if applicable.

Voya Investments, LLC (“Voya Investments” or the “Investment Adviser”), an Arizona limited liability company, serves as the Investment Adviser to the Portfolios. Voya Investment Management Co. LLC (“Voya IM” or the “Sub-Adviser”), a Delaware limited liability company, serves as the Sub-Adviser to the Portfolios. Voya Investments Distributor, LLC (“VID” or the “Distributor”), a Delaware limited liability company, serves as the principal underwriter to the Portfolios.

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies are consistently followed by the Portfolios in the preparation of their financial statements. Each Portfolio is considered an investment company under the U.S. generally accepted accounting principles (“GAAP”) and follows the accounting and reporting guidance applicable to investment companies.

A. Security Valuation. Each Portfolio is open for business every day the New York Stock Exchange (“NYSE”) opens for regular trading (each such day, a “Business Day”). The net asset value (“NAV”) per share for each class of each Portfolio is determined each Business Day as of the close of the regular trading session (“Market Close”), as determined by the Consolidated Tape Association (“CTA”), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern time unless otherwise designated by the CTA). The data reflected on the consolidated tape provided by the CTA is generated by various market centers, including all securities exchanges, electronic communications networks, and third-market broker-dealers. The NAV per share of each class of each Portfolio is calculated by taking the value of the Portfolio’s assets attributable to that class, subtracting the Portfolio’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Portfolio is closed for business, Portfolio shares will not be priced and a Portfolio does not transact purchase and redemption orders. To the extent a Portfolio’s assets are traded in other markets on days when a Portfolio does not price its shares, the value of a Portfolio’s assets will likely change and you will not be able to purchase or redeem shares of a Portfolio.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

if such price is not available, at the last sale price as of the Market Close for such security provided by the CTA. Bank loans are valued at the average of the averages of the bid and ask prices provided to an independent loan pricing service by brokers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and ask prices from the exchange on which they are principally traded. Investments in open-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. Investments in registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the regular trading session on the exchange where the security is principally traded.

When a market quotation is not readily available or is deemed unreliable, each Portfolio will determine a fair value for the relevant asset in accordance with procedures adopted by the Portfolios’ Board of Directors (“Board”). Such procedures provide, for example, that: (a) Exchange-traded securities are valued at the mean of the closing bid and ask; (b) Debt obligations are valued using an evaluated price provided by an independent pricing service. Evaluated prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect factors such as institution-size trading in similar groups of securities, developments related to specific securities, benchmark yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data; (c) Securities traded in the over-the-counter (“OTC”) market are valued based on prices provided by independent pricing services or market makers; (d) Options not listed on an exchange are valued by an independent source using an industry accepted model, such as Black-Scholes; (e) Centrally cleared swap agreements are valued using a price provided by the central counterparty clearinghouse; (f) OTC swap agreements are valued using a price provided by an independent pricing service; (g) Forward foreign currency exchange contracts are valued utilizing current and forward rates obtained from an independent pricing service. Such prices from the third party pricing service are for specific settlement periods and each Portfolio’s forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent period reported by the independent pricing service; and (h) Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by brokers.

The prospectuses of the open-end registered investment companies in which each Portfolio may invest explain the circumstances under which they will use fair value pricing and the effects of using fair value pricing.

Foreign securities’ (including forward foreign currency exchange contracts) prices are converted into U.S. dollar amounts using the applicable exchange rates as of Market Close. If market quotations are available and believed to be reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before Market Close, closing market quotations may become unreliable. An independent pricing service determines the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of Market Close. Foreign securities’ prices meeting the approved degree of certainty that the price is not reflective of current value will be valued by the independent pricing service using pricing models designed to estimate likely changes in the values of those securities between the times in which the trading in those securities is substantially completed and Market Close. Multiple factors may be considered by the independent pricing service in determining the value of such securities and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures.

All other assets for which market quotations are not readily available or became unreliable (or if the above fair valuation methods are unavailable or determined to be unreliable) are valued at fair value as determined in good faith by or under the supervision of the Board following procedures approved by the Board. The Board has delegated to the Investment Adviser responsibility for overseeing the implementation of the Portfolios’ valuation procedures; a “Pricing Committee” comprised of employees of the Investment Adviser or its affiliates has responsibility for applying the fair valuation methods set forth in the procedures and, if a fair valuation cannot be determined pursuant to the fair valuation methods, determining the fair value of assets held by the Portfolios. Issuer specific events, transaction price, position size, nature and duration of restrictions on disposition of the security, market trends, bid/ask quotes of brokers and other market data may be reviewed in the course of making a good faith determination of a security’s fair value. Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity. Because of the inherent uncertainties of fair valuation, the values used to determine each Portfolio’s NAV may materially differ from the value received upon actual sale of

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’ investments in each Portfolio.

Each investment asset or liability of the Portfolios is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities as classified as “Level 1,” inputs other than quoted prices for an asset or liability that are observable are classified as “Level 2” and significant unobservable inputs, including the Sub-Adviser’s or Pricing Committee’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing the Portfolios’ investments under these levels of classification is included following the Portfolio of Investments.

GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. The beginning of period timing recognition is used for the transfers between Levels of the Portfolio’s assets and liabilities. A reconciliation of Level 3 investments is presented only when a Portfolio has a significant amount of Level 3 investments.

B. Securities Transactions and Revenue Recognition. Securities transactions are accounted for on the trade date. Realized gains and losses are reported on the basis of identified cost of securities sold. Interest income is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date, or for certain foreign securities, when the information becomes available to the Portfolios. Premium amortization and discount accretion are determined by the effective yield method.

C. Foreign Currency Translation. The books and records of the Portfolios are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

(1)

Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at Market Close.

(2)

Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets and the market values are presented at the foreign exchange rates at Market Close, the Portfolios do not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses from investments. For securities, which are subject to foreign withholding tax upon disposition, liabilities are recorded on the Statements of Assets and Liabilities for the estimated tax withholding based on the securities’ current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding tax reclaims recorded on a Portfolio’s books, and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities, resulting from changes in the exchange rate. Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, revaluation of currencies and future adverse political and economic developments, which could cause securities and their markets to be less liquid and prices more volatile than those of comparable U.S. companies and U.S. government securities. The foregoing risks are even greater with respect to securities of issuers in emerging markets.

D. Distributions to Shareholders. The Portfolios record distributions to their shareholders on the ex-dividend date. All Portfolios (except U.S. Bond Index) declare and pay dividends annually. U.S. Bond Index declares dividends daily and pays dividends, if any, monthly. The Portfolios distribute capital gains distributions, if any, annually. The Portfolios may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.

E. Federal Income Taxes. It is the policy of the Portfolios to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of their net investment income and any net realized capital

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

gains to its shareholders. Therefore, a federal income tax or excise tax provision is not required. Management has considered the sustainability of the Portfolios’ tax positions taken on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized or expire.

The Portfolios may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.

F. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

G. Risk Exposures and the Use of Derivative Instruments. Each Portfolio’s investment strategies permit it to enter into various types of derivatives contracts, including, but not limited to, futures contracts, forward foreign currency exchange contracts, credit default swaps, interest rate swaps, total return swaps, and purchased and written options. In doing so, the Portfolio will employ strategies in differing combinations to permit it to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow the Portfolio to pursue its objectives more quickly and efficiently than if it were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.

In pursuit of its investment objectives, a Portfolio may seek to increase or decrease its exposure to the following market or credit risk factors:

Credit Risk. The price of a bond or other debt instrument is likely to fall if the issuer’s actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay its financial obligations altogether.

of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to costs and impair the ability of a Portfolio to achieve its investment objectives.

Foreign Exchange Rate Risk. To the extent that a Portfolio invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged by a Portfolio through foreign currency exchange transactions.

Currency rates may fluctuate significantly over short periods of time. Currency rates may be affected by changes in market interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities such as the International Monetary Fund, by the imposition of currency controls, or other political or economic developments in the United States or abroad.

Interest Rate Risk. With bonds and other fixed rate debt instruments, a rise in market interest rates generally causes values to fall; conversely, values generally rise as market interest rates fall. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is likely to be to interest rate risk. In the case of inverse securities, the interest rate paid by the securities is a floating rate, which generally will decrease when the market rate of interest to which the inverse security is indexed increases and will increase when the market rate of interest to which the inverse security is indexed decreases. As of the date of this report, market interest rates in the United States are at or near historic lows, which may increase a Portfolio’s exposure to risks associated with rising market interest rates. Rising market interest rates could have unpredictable effects on the markets and may expose fixed-income and related markets to heightened volatility. For a fund that invests in fixed-income securities, an increase in market interest rates may lead to increased redemptions and increased portfolio turnover, which could reduce liquidity for certain investments, adversely affect values, and increase costs. If dealer capacity in fixed-income markets is insufficient for market conditions, it may further inhibit liquidity and increase volatility in the fixed-income markets. Further, recent and potential changes in government policy may affect interest rates.

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

Risks of Investing in Derivatives. Each Portfolio’s use of derivatives can result in losses due to unanticipated changes in the market or credit risk factors and the overall market. In instances where a Portfolio is using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Portfolio, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions.

Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in market interest rates and liquidity and volatility risk. The amounts required to purchase certain derivatives may be small relative to the magnitude of exposure assumed by a Portfolio. Therefore, the purchase of certain derivatives may have an economic leveraging effect on a Portfolio and exaggerate any increase or decrease in the NAV. Derivatives may not perform as expected, so a Portfolio may not realize the intended benefits. When used for hedging purposes, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Portfolio to the risk of improper valuation.

Generally, derivatives are sophisticated financial instruments whose performance is derived, at least in part, from the performance of an underlying asset or assets. Derivatives include, among other things, swap agreements, options, forwards and futures. Investments in derivatives are generally negotiated OTC with a single counterparty and as a result are subject to credit risks related to the counterparty’s ability or willingness to perform its obligations; any deterioration in the counterparty’s creditworthiness could adversely affect the value of the derivative. In addition, derivatives and their underlying securities may experience periods of illiquidity which could cause a Portfolio to hold a security it might otherwise sell, or to sell a security it otherwise might hold at inopportune times or at an unanticipated price. A manager might imperfectly judge the direction of the market. For instance, if a derivative is used as a hedge to offset investment risk in another security, the hedge might not correlate to the market’s movements and may have unexpected or undesired results such as a loss or a reduction in gains.

The U.S. government has enacted legislation that provides for new regulation of the derivatives market, including

clearing, margin, reporting, and registration requirements. The European Union is (and other countries outside of the European Union are) implementing similar requirements, which will affect a Portfolio when it enters into a derivatives transaction with a counterparty organized in that country or otherwise subject to that country’s derivatives regulations. Because these requirements are new and evolving (and some of the rules are not yet final), their ultimate impact remains unclear. Central clearing is expected to reduce counterparty risk and increase liquidity, however, there is no assurance that it will achieve that result, and in the meantime, central clearing and related requirements expose a Portfolio to new kinds of costs and risks.

Counterparty Credit Risk and Credit Related Contingent Features. Certain derivative positions are subject to counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to a Portfolio. Each Portfolio’s derivative counterparties are financial institutions who are subject to market conditions that may weaken their financial position. A Portfolio intends to enter into financial transactions with counterparties that they believe to be creditworthy at the time of the transaction. To reduce this risk, a Portfolio has entered into master netting arrangements, established within each Portfolio’s International Swap and Derivatives Association, Inc. Master Agreements (“Master Agreements”). These Master Agreements are with select counterparties and they govern transactions, including certain OTC derivative and forward foreign currency contracts, entered into by a Portfolio and the counterparty. The Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable Master Agreement.

A Portfolio may also enter into collateral agreements with certain counterparties to further mitigate counterparty credit risk on OTC derivative and forward foreign currency contracts. Subject to established minimum levels, collateral is generally determined based on the net aggregate unrealized gain or loss on contracts with a certain counterparty. Collateral pledged to or from a Portfolio is held in a segregated account by a third-party agent and can be in the form of cash or debt securities issued by the U.S. government or related agencies.

As of June 30, 2018, the maximum amount of loss that Euro STOXX 50® Index, FTSE 100 Index®, and Hang Seng Index would incur if the counterparties to its derivative transactions failed to perform would be $55,191, $224, and $341, respectively, which represents the gross payments to

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

be received by the Portfolios on open forward foreign currency contracts were they to be unwound as of June 30, 2018. There was no collateral posted to any Portfolio as of June 30, 2018.

Each Portfolio has credit related contingent features that if triggered would allow its derivative counterparties to close out and demand payment or additional collateral to cover their exposure from a Portfolio. Credit related contingent features are established between each Portfolio and their derivatives counterparties to reduce the risk that a Portfolio will not fulfill its payment obligations to its counterparties. These triggering features include, but are not limited to, a percentage decrease in a Portfolio’s net assets and/or a percentage decrease in a Portfolio’s NAV, which could cause a Portfolio to accelerate payment of any net liability owed to the counterparty. The contingent features are established within each Portfolio’s Master Agreements.

As of June 30, 2018, Austrailia Index, Emerging Markets Index, Euro STOXX 50® Index, FTSE 100 Index®, Hang Seng Index and Japan TOPIX Index® had a liability position of $10,747, $1, $15,644, $9,256, $157, and $5,858, respectively, on open forward foreign currency contracts with credit related contingent features. If a contingent feature would have been triggered as of June 30, 2018, the Portfolios could have been required to pay this amount in cash to its counterparties. As of June 30, 2018, there was no collateral posted by any Portfolio for open OTC derivative instruments.

H. Forward Foreign Currency Contracts. Certain Portfolios may enter into forward foreign currency contracts primarily to hedge against foreign currency exchange rate risks on their non-U.S. dollar denominated investment securities. When entering into a forward foreign currency contract, a Portfolio agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed future date. These contracts are valued daily and a Portfolio’s net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date, is included in the Statements of Assets and Liabilities. Realized and unrealized gains and losses are included in the Statements of Operations. These instruments involve market and/or credit risk in excess of the amount recognized in the Statements of Assets and Liabilities. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movement in currency and securities values and interest rates. Open forward foreign currency contracts are presented following the respective Portfolio of Investments.

For the six months ended June 30, 2018, certain Portfolios have entered into forward foreign currency contracts with the obligation to buy and sell specified foreign currencies in the future at a currently negotiated forward rate in order to increase or decrease exposure to foreign exchange rate risk. The Portfolios use forward foreign currency contracts to enhance potential gain, hedge against anticipated currency exchange rates, gain exposure to foreign currencies and to maintain diversity and liquidity of the portfolio.

During the period ended June 30, 2018, the following Portfolios had average contract amounts on forward foreign currency contracts purchased and sold as disclosed below:

	Purchased			Sold
Australia Index		$	887,041		$	368,005
Emerging Markets Index			266,253			4,253
Euro STOXX 50® Index			7,699,737			3,210,172
FTSE 100 Index®			2,115,831			407,750
Hang Seng Index			639,415			415,561
Japan TOPIX Index®			3,121,741			1,566,535

Please refer to the tables following each respective Portfolio of Investments for open forward foreign currency contracts as of June 30, 2018.

I. Futures Contracts. Each Portfolio may enter into futures contracts involving foreign currency, interest rates, securities and security indices. A futures contract is a commitment to buy or sell a specific amount of a financial instrument at a negotiated price on a stipulated future date. Each Portfolio may buy and sell futures contracts. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as reported by such principal exchange at its trading session ending at, or most recently prior to, the time when the Portfolios assets are valued.

Upon entering into a futures contract, each Portfolio is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by the Portfolio each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses. Open futures contracts are reported on a table following each Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts are footnoted in the Portfolio of Investments. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in each Portfolio’s Statement of Assets and Liabilities. The net change in unrealized appreciation and

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

depreciation is reported in each Portfolio’s Statement of Operations. Realized gains (losses) are reported in each Portfolio’s Statement of Operations at the closing or expiration of futures contracts.

Futures contracts are exposed to the market risk factor of the underlying financial instrument. During the period ended June 30, 2018, with the exception of U.S. Bond Index, the below Portfolios had purchased futures contracts on various equity indices to “equitize” cash. Futures contracts are purchased to provide immediate market exposure proportionate to the size of the Portfolio’s respective cash flows and residual cash balances in order to decrease potential tracking error if the cash remained uninvested in the market. U.S. Bond Index sold futures contracts as part of its duration stategy. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where the Portfolios are unable to liquidate the contract or enter into an offsetting position and, if used for hedging purposes, the risk that the price of the contract will correlate imperfectly with the prices of the Portfolios’ securities. With futures, there is minimal counterparty credit risk to the Portfolios since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

During the period ended June 30, 2018, the Portfolios had average notional values on futures contracts purchased and sold as disclosed below.

	Purchased			Sold
Australia Index		$	2,045,780		$	—
Emerging Markets Index			17,199,340			—
Euro STOXX 50® Index			8,812,123			—
FTSE 100 Index®			4,897,509			—
Hang Seng Index			1,248,532			—
International Index			49,269,342			—
Japan TOPIX Index®			6,354,834			—
Russell™ Large Cap Growth Index			9,730,690			—
Russell™ Large Cap Index			7,078,920			—
Russell™ Large Cap Value Index			3,391,340			—
Russell™ Mid Cap Growth Index			3,637,773			—
Russell™ Mid Cap Index			15,618,980			—
Russell™ Small Cap Index			14,644,807			—
U.S. Bond Index			—			1,490,703

Please refer to the tables following each respective Portfolio of Investments for open futures contracts as of June 30, 2018.

J. Credit Default Swap Contracts. A credit default swap is a bilateral agreement between counterparties in which the buyer of the protection agrees to make a stream of

periodic payments to the seller of protection in exchange for the right to receive a specified return in the event of a default or other credit event for a referenced entity, obligation or index. As a seller of protection on credit default swaps, a Portfolio will generally receive from the buyer a fixed payment stream based on the notional amount of the swap contract. This fixed payment stream will continue until the swap contract expires or a defined credit event occurs.

A Portfolio is subject to credit risk in the normal course of pursuing its investment objectives. As a seller of protection in a credit default swap, a Portfolio may execute these contracts to manage its exposure to the market or certain sectors of the market. Certain Portfolios may also enter into credit default swaps to speculate on changes in an issuer’s credit quality, to take advantage of perceived spread advantages, or to offset an existing short equivalent (i.e. buying protection on an equivalent reference entity).

Certain Portfolios may sell credit default swaps which expose these Portfolios to the risk of loss from credit risk related events specified in the contract. Although contract specific, credit events are generally defined as bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default or repudiation/moratorium. If a Portfolio is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Portfolio will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index. If a Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements on corporate issues or sovereign issues are disclosed following the Portfolio of Investments and serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. For credit default swaps on asset-backed securities or credit indices, the quoted market prices and resulting fair values serve as the indicator of the current status of the payment/performance risk. Wider credit spreads and increasing fair values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

The maximum amount of future payments (undiscounted) that a Portfolio as seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreements, or net amounts received from the settlement of buy protection credit default swap agreements entered into by a Portfolio for the same referenced entity or entities.

During the period ended June 30, 2018, U.S. Bond Index sold credit protection on credit default swap indices (“CDX”) with a notional amount of $20,000,000 to gain additional exposure to the various sectors of the credit market. A CDX is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. There were no open credit default swaps to sell protection at June 30, 2018.

K. Securities Lending. Each Portfolio may temporarily loan up to 331∕3% of its total assets to brokers, dealers or other financial institutions in exchange for a negotiated lender’s fee. Securities lending involves two primary risks: “investment risk” and “borrower default risk.” When lending securities, the Portfolios will receive cash or U.S. government securities as collateral. Investment risk is the risk that the Portfolios will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolios will lose money due to the failure of a borrower to return a borrowed security. Loans are subject to termination at the option of the borrower or the Portfolios. Securities lending may result in leverage. The use of leverage may exaggerate

any increase or decrease in the NAV, causing the Portfolios to be more volatile. The use of leverage may increase expenses and increase the impact of the Portfolios’ other risks.

L. Restricted Securities. The Portfolios may invest in restricted securities, which include those sold under Rule 144A of the Securities Act of 1933, as amended (“1933 Act”) or securities offered pursuant to Section 4(a)(2) of the 1933 Act, and/or are subject to legal or contractual restrictions on resale and may not be publicly sold without registration under the 1933 Act. Restricted securities are fair valued using market quotations when readily available. In the absence of market quotations, the securities are valued based upon their fair value determined in good faith under procedures approved by the Board.

Securities that are not registered for sale to the public under the 1933 Act are referred to as “restricted securities.” These securities may be sold in private placement transactions between issuers and their purchasers and may be neither listed on an exchange nor traded in other established markets. Many times these securities are subject to legal or contractual restrictions on resale. As a result of the absence of a public trading market, the prices of these securities may be more volatile, less liquid and more difficult to value than publicly traded securities. The price realized from the sale of these securities could be less than the amount originally paid or less than their fair value if they are resold in privately negotiated transactions. In addition, these securities may not be subject to disclosure and other investment protection requirements that are afforded to publicly traded securities. Certain investments may include investment in smaller, less seasoned issuers, which may involve greater risk.

M. Delayed-Delivery or When-Issued Transactions. Each Portfolio may purchase or sell securities on a when-issued or forward commitment basis. The price of the underlying securities and date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The fair value of such securities is identified in each Portfolio’s Portfolio of Investments. Losses may arise due to changes in the fair value of the securities or from the inability of counterparties to meet the terms of the contract. In connection with such purchases, the Portfolios are required to identify liquid assets sufficient to cover the purchase price.

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

based on the net aggregate unrealized gain or loss on all the when-issued or delayed-delivery transactions with a particular counterparty. Cash collateral, if any, is presented on the Statement of Assets and Liabilities as an asset (Cash pledged as collateral for delayed-delivery or when-issued securities) and a liability (Cash received as collateral for delayed-delivery or when-issued securities).

At December 31, 2017, U.S. Bond Index had received $955,000 in cash collateral from certain counterparties for open delayed-delivery or when-issued securities.

N. Indemnifications. In the normal course of business, the Company may enter into contracts that provide certain indemnifications. The Company’s maximum exposure under these arrangements is dependent on future claims that may be made against the Portfolios and, therefore, cannot be estimated; however, based on experience, management considers the risk of loss from such claims remote.

NOTE 3 — INVESTMENT TRANSACTIONS

For the six months ended June 30, 2018, the cost of purchases and the proceeds from the sales of securities, excluding short-term securities and U.S. government securities, were as follows:

	Purchases			Sales
Australia Index		$	15,435,361		$	6,390,897
Emerging Markets Index			204,237,586			42,610,852
Euro STOXX 50® Index			55,754,398			12,641,719
FTSE 100 Index®			11,619,093			35,548,922
Hang Seng Index			2,042,939			25,173,975
International Index			144,369,957			25,132,588
Japan TOPIX Index®			817,614			44,275,652
Russell™ Large Cap Growth Index			58,315,044			89,378,884
Russell™ Large Cap Index			17,627,011			54,902,753
Russell™ Large Cap Value Index			44,402,909			70,713,818
Russell™ Mid Cap Growth Index			92,210,844			101,705,665
Russell™ Mid Cap Index			129,815,918			528,112,364
Russell™ Small Cap Index			90,034,603			214,234,597
U.S. Bond Index			134,465,571			122,620,491

U.S. government securities not included above were as follows:

			Purchases						Sales
U.S. Bond Index				$	4,269,659,805					$	4,230,913,418

NOTE 4 — INVESTMENT MANAGEMENT FEES

and portfolio management services for the Portfolios and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Portfolios, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. This Management Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, based on the average daily net assets of each Portfolio, at the following annual rates:


Australia Index(1)			0.70%
Emerging Markets Index(2)			0.65%
Euro STOXX 50® Index(1)			0.70%
FTSE 100 Index®(1)			0.70%
Hang Seng Index(3)			0.70% on the first $250 million; 0.60% on the next $250 million; and 0.55% thereafter
International Index			0.48% on the first $500 million; 0.46% on the next $500 million; 0.44% on the next $500 million; and 0.42% thereafter
Japan TOPIX Index®(1)			0.70%
Russell™ Large Cap Growth Index(4)			0.50% on the first $500 million; 0.48% on the next $500 million; and 0.46% thereafter
Russell™ Large Cap Index			0.35% on the first $1 billion; 0.33% on the next $1 billion; and 0.31% thereafter
Russell™ Large Cap Value Index(4)			0.50% on the first $250 million; 0.40% on the next $250 million; and 0.35% thereafter
Russell™ Mid Cap Growth Index(4)			0.50% on the first $500 million; 0.48% on the next $500 million; and 0.46% thereafter
Russell™ Mid Cap Index			0.41% on the first $2 billion; 0.34% on the next $2 billion; and 0.28% thereafter
Russell™ Small Cap Index			0.43% on the first $1 billion; 0.41% on the next $1 billion; and 0.39% thereafter
U.S. Bond Index			0.42% on the first $500 million; 0.40% on the next $500 million; 0.38% on the next $1 billion; 0.36% on the next $2 billion; 0.34% on the next $2 billion; and 0.32% thereafter

(1)

Pursuant to a side letter agreement, Voya Investments has agreed to waive 0.35% of the Portfolio’s management fee. Any fees waived or reimbursed are not eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

(2)

Pursuant to a side letter agreement, Voya Investments has agreed to waive 0.27% of the Portfolio’s management fee. Any fees waived or reimbursed are not eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

(3)

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NOTE 4 — INVESTMENT MANAGEMENT FEES (continued)

(4)

Pursuant to a side letter agreement, Voya Investments has agreed to waive 0.10% of the Portfolio’s management fee. Any fees waived or reimbursed are not eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

The Investment Adviser has entered into a sub-advisory agreement with Voya IM with respect to each Portfolio. Voya IM provides investment advice for the Portfolios and is paid by the Investment Adviser based on the average daily net assets of each respective Portfolio. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages the Portfolios’ assets in accordance with the Portfolios’ investment objectives, policies, and limitations.

NOTE 5 — DISTRIBUTION AND SERVICE FEES

Class ADV and Class S2 shares of the respective Portfolios are subject to a shareholder service and distribution plan (the “Plans”). Under the Plans, the Distributor is paid an annual shareholder service fee at the rate of 0.25% of the average daily net assets attributable to its Class ADV and Class S2 shares. The Distributor is paid an annual distribution fee at the rate of 0.25% of the average daily net assets attributable to its Class ADV shares and the Distributor is paid an annual distribution fee at the rate of 0.15% of the average daily net assets attributable to its Class S2 shares. The Distributor has contractually agreed to waive 0.01% of the distribution fee for Class ADV shares of International Index. Termination or modification of this obligation requires approval by the Board.

Class S shares of the Portfolios have a shareholder services and distribution plan (the “Plan”), whereby the Distributor is compensated by each Portfolio for expenses incurred for shareholder servicing and/or distribution of each Portfolio’s Class S shares. Pursuant to the Plan, the Distributor is entitled to a payment each month to compensate for expenses incurred in the distribution and promotion of each Portfolio’s shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any distribution or shareholder servicing fees paid to securities dealers who have executed a distribution agreement with the Distributor. Under the Plan, Class S shares of the Portfolios pay the Distributor a fee calculated at an annual rate of 0.25% of average daily net assets.

NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES

At June 30, 2018, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. or affiliated investment companies owned more than 5% of the following Portfolios:

Subsidiary/Affiliated Investment Company	Portfolio	Percentage
ReliaStar Life Insurance Company	Russell™ Large Cap Growth Index		27.06%
	Russell™ Large Cap Value Index		7.88
Security Life of Denver Insurance Company	Russell™ Large Cap Growth Index		7.95
Voya Index Solution 2025 Portfolio	International Index		6.91
	U.S. Bond Index		7.29
Voya Index Solution 2035 Portfolio	Emerging Markets Index		7.22
	International Index		9.44
Voya Index Solution 2045 Portfolio	Emerging Markets Index		6.10
	International Index		7.31
Voya Index Solution Income Portfolio	U.S. Bond Index		5.81
Voya Institutional Trust Company	Russell™ Large Cap Growth Index		12.46
	Russell™ Large Cap Index		15.52
	Russell™ Large Cap Value Index		12.72
	Russell™ Mid Cap Index		14.46
	Russell™ Small Cap Index		13.88
Voya Insurance and Annuity Company	Hang Seng Index		52.79
	International Index		35.40
	Russell™ Large Cap Growth Index		35.07
	Russell™ Large Cap Index		46.71
	Russell™ Large Cap Value Index		57.94
	Russell™ Mid Cap Growth Index		84.38
	Russell™ Mid Cap Index		12.49
	Russell™ Small Cap Index		20.59
	U.S. Bond Index		5.01
Voya Retirement Conservative Portfolio	U.S. Bond Index		7.48
Voya Retirement Growth Portfolio	Australia Index		53.12
	Emerging Markets Index		27.72
	Euro STOXX 50® Index		52.31
	FTSE 100 Index®		52.07
	Hang Seng Index		28.46
	Japan TOPIX Index®		52.66
	Russell™ Mid Cap Index		18.38
	Russell™ Small Cap Index		15.75
	U.S. Bond Index		21.57
Voya Retirement Insurance and Annuity Company	International Index		6.14
	Russell™ Large Cap Growth Index		16.23
	Russell™ Large Cap Index		33.51
	Russell™ Large Cap Value Index		15.24
	Russell™ Mid Cap Growth Index		8.80
	Russell™ Mid Cap Index		27.56
	Russell™ Small Cap Index		26.88

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)

Subsidiary/Affiliated Investment Company	Portfolio	Percentage
Voya Retirement Moderate Growth Portfolio	Australia Index		32.10
	Emerging Markets Index		16.74
	Euro STOXX 50® Index		27.40
	FTSE 100 Index®		29.96
	Hang Seng Index		9.83
	Japan TOPIX Index®		28.70
	Russell™ Mid Cap Index		8.89
	Russell™ Small Cap Index		8.70
	U.S. Bond Index		20.85
Voya Retirement Moderate Portfolio	Australia Index		12.76
	Emerging Markets Index		6.66
	Euro STOXX 50® Index		12.48
	FTSE 100 Index®		13.34
	Hang Seng Index		5.47
	Japan TOPIX Index®		12.78
	U.S. Bond Index		14.59

Under the 1940 Act, the direct or indirect beneficial owner of more than 25% of the voting securities of a company (including a fund) is presumed to control such company. Companies under common control (e.g., companies with a common owner of greater than 25% of their respective voting securities) are affiliates under the 1940 Act.

The Investment Adviser may direct the Portfolios’ Sub-Adviser to use its best efforts (subject to obtaining best execution of each transaction) to allocate a Portfolio’s equity security transactions through certain designated broker-dealers. The designated broker-dealer, in turn, will reimburse a portion of the brokerage commissions to pay certain expenses of that Portfolio. Any amounts credited to the Portfolios are reflected as brokerage commission recapture on the accompanying Statements of Operations.

The Portfolios have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent directors, as described in the DC Plan, to defer the receipt of all or a portion of the directors’ fees that they are entitled to receive from the Portfolios. For purposes of determining the amount owed to the director under the DC Plan, the amounts deferred are invested in shares of the funds selected by the director (the “Notional Funds”). The Portfolios purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the directors’ deferred fees, resulting in a Porfolio asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets” on the accompanying Statements of Assets and Liabilities. Deferral of directors’ fees under the DC Plan will not affect net assets of the Portfolio, and will not materially affect the Portfolios’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.

NOTE 7 — OTHER ACCRUED EXPENSES AND LIABILITIES

At June 30, 2018, the below Portfolios had the following payables included in Other Accrued Expenses and Liabilities on the Statements of Assets and Liabilities that exceed 5% of total liabilities:

Portfolio

Accrued Expenses

Amount

Hang Seng Index

Custody

31,853

License

10,979

NOTE 8 — LICENSING FEES

Hang Seng Data Services Limited receives an annual licensing fee for the Hang Seng Index. MSCI Inc. receives an annual licensing fee for Emerging Markets Index and International Index. Standard & Poor’s Financial Services LLC, STOXX Limited, Zurich, Switzerland and/or Dow Jones & Company, Inc., FTSE International Limited, and Tokyo Stock Exchange, Inc. receive an annual licensing fee for Australia Index, Euro STOXX 50® Index, FTSE 100 Index® and Japan TOPIX Index®, respectively.

NOTE 9 — EXPENSE LIMITATION AGREEMENTS

The Investment Adviser has entered into a written expense limitation agreement (“Expense Limitation Agreement”) with each of the following Portfolios whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and acquired fund fees and expenses to the levels listed below:

Portfolio	Class ADV		Class I		Class P2		Class S		Class S2
Emerging Markets Index		N/A		N/A		0.15%		N/A		N/A
Hang Seng Index		1.25%		0.75%		N/A		1.00%		N/A
International Index(1)		1.00%		0.50%		0.15%		0.75%		0.90%
Russell™ Large Cap Growth Index(2)		N/A		N/A		N/A		N/A		N/A
Russell™ Large Cap Index(3)		0.87%		0.37%		N/A		0.62%		0.77%
Russell™ Large Cap Value Index(2)		N/A		N/A		N/A		N/A		N/A
Russell™ Mid Cap Growth Index(4)		N/A		0.43%		N/A		0.68%		0.83%
Russell™ Mid Cap Index(5)		0.93%		0.43%		0.15%		0.68%		0.83%
Russell™ Small Cap Index		0.95%		0.45%		0.15%		0.70%		0.85%
U.S. Bond Index		0.90%		0.40%		0.15%		0.65%		0.80%

(1)

Pursuant to a side letter agreement through May 1, 2019, the Investment Adviser has further lowered the expense limits for International Index to 0.95%, 0.45%, 0.70% and 0.85% for Class ADV, Class I, Class S and Class S2, respectively. Termination or modification of this obligation requires approval by the Board.

(2)

Pursuant to a side letter agreement, through May 1, 2019, the Investment Adviser has agreed to waive all or a portion of the management fee so that the expense limits are 0.93%, 0.43%, and 0.68% for Class ADV, Class I, and Class S, respectively. Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 9 — EXPENSE LIMITATION
AGREEMENTS (continued)

(3)

Pursuant to a side letter agreement, effective January 1, 2018 and through May 1, 2019, the Investment Adviser has further lowered the expense limits for Russell™ Large Cap Index to 0.86%, 0.36%, 0.61% and 0.76% for Class ADV, Class I, Class S and Class S2, respectively. Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

(4)

Pursuant to a side letter agreement, effective January 1, 2018 and through May 1, 2019, the Investment Adviser has further lowered the expense limits for Russell™ Mid Cap Growth Index to 0.40%, 0.65%, and 0.80% for Class I, Class S and Class S2, respectively. Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

(5)

Pursuant to a side letter agreement, effective January 1, 2018 and through May 1, 2019, the Investment Adviser has further lowered the expense limits for Russell™ Mid Cap Index to 0.90%, 0.40%, 0.65% and 0.80% for Class ADV, Class I, Class S and Class S2, respectively. Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

Unless otherwise specified above, the Investment Adviser may at a later date recoup from a Portfolio for fees waived and/or other expenses reimbursed by the Investment Adviser during the previous 36 months, but only if, after such recoupment, a Portfolio’s expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.

As of June 30, 2018, the amount of waived and/or reimbursed fees that are subject to recoupment by the Investment Adviser, and the related expiration dates are as follows:

	June 30,
	2019			2020			2021			Total
Emerging Markets Index		$	—		$	93,100		$	851,593		$	944,693
International Index			1,030,973			1,243,861			3,196,550			5,471,384
Russell™ Large Cap Index			82,346			77,409			38,067			197,822
Russell™ Mid Cap Growth Index			38,369			84,738			18,702			141,809
Russell™ Mid Cap Index			68,741			201,173			692,630			962,544
Russell™ Small Cap Index			125,218			125,666			421,340			672,224
U.S. Bond Index			183,574			452,678			1,993,707			2,629,959

The Expense Limitation Agreement is contractual through May 1, 2019 and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.

NOTE 10 — LINE OF CREDIT

Effective May 18, 2018, each Portfolio, in addition to certain other funds managed by the Investment Adviser, has entered into a 364-day unsecured committed revolving line of credit agreement (the “Credit Agreement”) with The Bank of New York Mellon (“BNY”) for an aggregate amount of $400,000,000 through May 17, 2019. The proceeds may be used only to finance temporarily: (1) the purchase or sale of investment securities; or (2) the repurchase or redemption of shares of a Portfolio or certain other funds managed by the Investment Adviser. The funds to which the line of credit is available pay a commitment fee equal to 0.15% per annum on the daily unused portion of the committed line amount payable quarterly in arrears. Prior to May 18, 2018, the predecessor line of credit was for an aggregate amount of $400,000,000 and paid a commitment fee equal to 0.15% through May 18, 2018.

Borrowings under the credit agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.

The following Portfolios utilized the line of credit during the six months ended June 30, 2018:

Portfolio	Days Utilized		Approximate Average Daily Balance For Days Utilized			Approximate Weighted Average Interest Rate For Days Utilized
Emerging Markets Index		6		$	2,263,500		2.49%
FTSE 100 Index®		3			5,103,000		2.58
Hang Seng Index		1			3,218,000		2.42
International Index		4			2,137,750		2.70
Japan TOPIX Index®		4			6,018,750		2.60
Russell™ Large Cap Value Index		3			1,567,000		2.70
Russell™ Mid Cap Index		11			50,051,000		2.69
Russell™ Small Cap Index		11			29,920,455		2.70
U.S. Bond Index		1			2,351,000		2.70

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 11 — CAPITAL SHARES

	Shares sold		Shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease) in shares outstanding		Shares sold		Proceeds from shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease)
Year or period ended	#		#		#		#		#		($)		($)		($)		($)		($)
Australia Index
Class I
6/30/2018		1,973,583		—		626,056		(1,089,487)		1,510,152		17,052,140		—		5,446,682		(9,864,171)		12,634,651
12/31/2017		30,349		—		566,012		(7,420,182)		(6,823,821)		258,018		—		4,731,859		(63,180,337)		(58,190,460)
Emerging Markets Index
Class I
6/30/2018		16,744,704		—		857,095		(7,242,571)		10,359,228		208,215,918		—		10,859,398		(95,025,981)		124,049,335
12/31/2017		10,704,813		—		723,610		(27,557,948)		(16,129,525)		117,734,388		—		7,793,282		(308,509,658)		(182,981,988)
Class P2
6/30/2018		6,389,581		—		493,941		(1,330,270)		5,553,252		82,021,388		—		6,287,864		(17,905,737)		70,403,515
5/3/2017(1) - 12/31/2017		18,770,937		—		196,973		(1,945,510)		17,022,400		210,633,686		—		2,123,366		(23,712,646)		189,044,406
Class S
6/30/2018		—		—		—		—		—		—		—		—		—		—
12/31/2017		—		—		—		—*		—		—		—		—		—*		—
Euro STOXX 50® Index
Class ADV
6/30/2018		81,936		—		85,861		(280,708)		(112,911)		928,086		—		965,078		(3,183,585)		(1,290,421)
12/31/2017		883,620		—		69,824		(1,067,003)		(113,559)		9,604,006		—		758,294		(11,668,068)		(1,305,768)
Class I
6/30/2018		6,019,090		—		1,395,413		(2,263,529)		5,150,974		66,263,159		—		15,782,115		(25,960,822)		56,084,452
12/31/2017		54,421		—		1,303,491		(10,647,360)		(9,289,448)		559,961		—		14,247,161		(114,263,813)		(99,456,691)
FTSE 100 Index®
Class ADV
6/30/2018		266,087		—		44,566		(198,123)		112,530		2,624,172		—		420,703		(1,917,363)		1,127,512
12/31/2017		112,389		—		35,610		(159,370)		(11,371)		1,012,975		—		315,858		(1,456,611)		(127,778)
Class I
6/30/2018		1,253,293		—		1,914,489		(4,092,620)		(924,838)		11,788,358		—		18,187,648		(39,704,068)		(9,728,062)
12/31/2017		714,765		—		2,232,515		(8,920,423)		(5,973,143)		6,783,293		—		19,914,030		(82,186,228)		(55,488,905)
Hang Seng Index
Class ADV
6/30/2018		41		—		9,588		(10,680)		(1,051)		707		—		148,036		(183,329)		(34,586)
12/31/2017		960		—		357		(14,049)		(12,732)		12,465		—		5,079		(206,467)		(188,923)
Class I
6/30/2018		150,149		—		409,721		(1,389,027)		(829,157)		2,392,034		—		6,342,476		(22,254,779)		(13,520,269)
12/31/2017		22,449		—		56,024		(3,035,191)		(2,956,718)		315,713		—		797,783		(45,631,009)		(44,517,513)
Class S
6/30/2018		87,006		—		312,482		(217,786)		181,702		1,528,218		—		4,834,095		(3,751,263)		2,611,050
12/31/2017		335,224		—		15,995		(600,938)		(249,719)		5,031,799		—		227,775		(9,207,450)		(3,947,876)
International Index
Class ADV
6/30/2018		283,189		—		1,392,887		(5,128,195)		(3,452,119)		2,984,811		—		14,583,531		(53,941,744)		(36,373,402)
12/31/2017		1,370,904		—		1,474,319		(17,189,512)		(14,344,289)		12,525,494		—		14,094,484		(166,952,606)		(140,332,628)
Class I
6/30/2018		6,612,921		—		905,126		(3,003,671)		4,514,376		70,958,478		—		9,657,691		(32,236,402)		48,379,767
12/31/2017		21,649,902		—		753,860		(55,989,922)		(33,586,160)		200,118,685		—		7,342,600		(547,016,233)		(339,554,948)
Class P2
6/30/2018		16,609,256		—		1,740,642		(2,899,974)		15,449,924		177,860,997		—		18,624,875		(31,701,611)		164,784,261
5/3/2017(1) - 12/31/2017		57,744,623		—		1,051,194		(4,054,795)		54,741,022		571,172,958		—		10,228,121		(41,779,778)		539,621,301
Class S
6/30/2018		367,042		—		179,938		(863,157)		(316,177)		3,951,361		—		1,907,342		(9,234,603)		(3,375,900)
12/31/2017		848,666		—		175,882		(1,762,053)		(737,505)		8,307,875		—		1,702,534		(17,233,798)		(7,223,389)
Class S2
6/30/2018		22,631		—		3,173		(7,289)		18,515		240,831		—		33,601		(78,486)		195,946
12/31/2017		28,081		—		2,373		(72,550)		(42,096)		272,441		—		22,970		(692,791)		(397,380)
Japan TOPIX Index®
Class ADV
6/30/2018		84,996		—		85,117		(226,765)		(56,652)		1,083,989		—		995,866		(2,815,358)		(735,503)
12/31/2017		172,722		—		38,937		(342,704)		(131,045)		2,024,876		—		422,074		(3,942,985)		(1,496,035)

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 11 — CAPITAL SHARES (continued)

	Shares sold		Shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease) in shares outstanding		Shares sold		Proceeds from shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease)
Year or period ended	#		#		#		#		#		($)		($)		($)		($)		($)
Japan TOPIX Index® (continued)
Class I
6/30/2018		766,306		—		2,252,823		(3,880,277)		(861,148)		8,874,890		—		26,605,844		(47,793,838)		(12,313,104)
12/31/2017		2,245,327		—		1,160,343		(7,107,008)		(3,701,338)		24,879,691		—		12,682,550		(83,407,323)		(45,845,082)
Russell™ Large Cap Growth Index
Class ADV
6/30/2018		—		—		5		—		5		—		—		178		—		178
12/31/2017		—		—		1		—*		1		—		—		28		—*		28
Class I
6/30/2018		216,491		—		442,746		(601,693)		57,544		7,976,385		—		15,890,148		(21,935,132)		1,931,401
12/31/2017		594,363		—		120,200		(1,124,545)		(409,982)		18,280,901		—		3,662,493		(35,692,730)		(13,749,336)
Class S
6/30/2018		576,852		—		412,785		(761,289)		228,348		20,917,974		—		14,748,819		(27,695,934)		7,970,859
12/31/2017		1,510,117		—		102,561		(2,224,146)		(611,468)		45,597,118		—		3,112,736		(71,324,569)		(22,614,715)
Russell™ Large Cap Index
Class ADV
6/30/2018		393,542		—		27,885		(174,855)		246,572		8,258,472		—		582,781		(3,659,981)		5,181,272
12/31/2017		513,217		—		24,766		(423,653)		114,330		9,700,537		—		451,986		(7,877,890)		2,274,633
Class I
6/30/2018		866,853		—		209,760		(914,167)		162,446		18,427,263		—		4,457,407		(19,551,240)		3,333,430
12/31/2017		2,320,340		—		214,667		(2,205,043)		329,964		44,073,372		—		3,979,934		(42,206,595)		5,846,711
Class S
6/30/2018		500,244		—		370,585		(2,408,447)		(1,537,618)		10,676,225		—		7,830,458		(51,067,935)		(32,561,252)
12/31/2017		3,082,682		—		464,113		(8,715,578)		(5,168,783)		57,191,057		—		8,558,244		(165,280,873)		(99,531,572)
Class S2
6/30/2018		3,280		—		452		(20,710)		(16,978)		71,623		—		9,816		(453,554)		(372,115)
12/31/2017		14,953		—		846		(26,033)		(10,234)		283,228		—		16,027		(495,574)		(196,319)
Russell™ Large Cap Value Index
Class ADV
6/30/2018		—		—		9		—		9		—		—		197		—		197
12/31/2017		—		—		3		—		3		—		—		58		—		58
Class I
6/30/2018		31,311		—		255,986		(309,609)		(22,312)		711,479		—		5,593,289		(7,100,716)		(795,948)
12/31/2017		399,868		—		101,265		(612,966)		(111,833)		8,582,192		—		2,147,826		(13,311,745)		(2,581,727)
Class S
6/30/2018		182,701		—		749,400		(1,205,742)		(273,641)		4,160,766		—		16,284,468		(27,433,196)		(6,987,962)
12/31/2017		1,338,391		—		294,381		(4,038,281)		(2,405,509)		28,672,530		—		6,208,489		(87,858,488)		(52,977,469)
Russell™ Mid Cap Growth Index
Class I
6/30/2018		52,307		—		60,624		(103,293)		9,638		1,873,429		—		1,994,532		(3,564,145)		303,816
12/31/2017		266,029		—		3,507		(111,139)		158,397		8,618,643		—		108,153		(3,597,189)		5,129,607
Class S
6/30/2018		424,332		—		974,619		(697,975)		700,976		15,227,582		—		32,016,234		(24,601,375)		22,642,441
12/31/2017		325,841		—		63,457		(2,282,645)		(1,893,347)		10,208,515		—		1,955,102		(71,536,471)		(59,372,854)
Class S2
6/30/2018		382		—		5,594		(3,039)		2,937		13,173		—		183,519		(109,761)		86,931
12/31/2017		1,029		—		294		(4,044)		(2,721)		32,383		—		9,034		(122,474)		(81,057)
Russell™ Mid Cap Index
Class ADV
6/30/2018		301,404		—		1,555,515		(767,381)		1,089,538		4,656,840		—		21,932,754		(11,729,326)		14,860,268
12/31/2017		1,158,541		—		947,758		(1,435,581)		670,718		17,403,188		—		13,515,021		(21,402,779)		9,515,430
Class I
6/30/2018		2,794,335		—		9,578,686		(25,628,035)		(13,255,014)		43,738,396		—		139,465,664		(385,049,054)		(201,844,994)
12/31/2017		6,797,255		—		7,126,788		(36,004,455)		(22,080,412)		106,123,888		—		104,478,717		(558,813,147)		(348,210,542)
Class P2
6/30/2018		2,082,929		—		1,505,815		(5,185,155)		(1,596,411)		33,695,646		—		21,984,899		(83,632,669)		(27,952,124)
5/3/2017(1) - 12/31/2017		13,977,815		—		917,204		(901,165)		13,993,854		219,422,964		—		13,446,206		(14,280,590)		218,588,580
Class S
6/30/2018		488,919		—		2,599,695		(2,116,665)		971,949		7,707,463		—		37,435,606		(33,272,228)		11,870,841
12/31/2017		1,545,050		—		1,935,737		(7,987,736)		(4,506,949)		23,438,311		—		28,087,548		(121,679,147)		(70,153,288)

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 11 — CAPITAL SHARES (continued)

	Shares sold		Shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease) in shares outstanding		Shares sold		Proceeds from shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease)
Year or period ended	#		#		#		#		#		($)		($)		($)		($)		($)
Russell™ Mid Cap Index (continued)
Class S2
6/30/2018		60,220		—		139,859		(100,737)		99,342		950,468		—		1,985,993		(1,563,706)		1,372,755
12/31/2017		181,664		—		94,838		(370,050)		(93,548)		2,748,234		—		1,359,979		(5,552,594)		(1,444,381)
Russell™ Small Cap Index
Class ADV
6/30/2018		314,601		—		485,188		(457,602)		342,187		4,817,726		—		7,219,606		(7,017,349)		5,019,983
12/31/2017		1,051,908		—		594,815		(1,121,530)		525,193		15,239,228		—		8,172,756		(16,088,684)		7,323,300
Class I
6/30/2018		1,003,211		—		1,980,667		(3,767,983)		(784,105)		15,915,387		—		30,423,046		(59,450,742)		(13,112,309)
12/31/2017		12,240,228		—		2,023,869		(12,298,669)		1,965,428		176,530,334		—		28,637,736		(186,121,006)		19,047,064
Class P2
6/30/2018		1,241,142		—		339,287		(4,527,917)		(2,947,488)		19,778,730		—		5,231,806		(71,685,752)		(46,675,216)
5/3/2017(1) - 12/31/2017		8,057,856		—		498,620		(588,634)		7,967,842		121,959,586		—		7,060,466		(8,995,691)		120,024,361
Class S
6/30/2018		726,330		—		1,006,586		(1,668,571)		64,345		11,534,439		—		15,340,373		(26,237,165)		637,647
12/31/2017		1,718,566		—		1,444,732		(6,301,238)		(3,137,940)		25,390,215		—		20,284,045		(93,043,413)		(47,369,153)
Class S2
6/30/2018		53,243		—		33,246		(83,057)		3,432		820,033		—		497,689		(1,306,741)		10,981
12/31/2017		133,330		—		52,582		(267,404)		(81,492)		1,932,685		—		726,155		(3,860,523)		(1,201,683)
U.S. Bond Index
Class ADV
6/30/2018		139,916		—		26,805		(273,209)		(106,488)		1,438,418		—		275,727		(2,815,879)		(1,101,734)
12/31/2017		406,159		—		62,961		(592,398)		(123,278)		4,278,878		—		664,801		(6,246,942)		(1,303,263)
Class I
6/30/2018		26,665,997		—		2,718,849		(29,524,455)		(139,609)		276,304,753		—		28,074,396		(305,023,934)		(644,785)
12/31/2017		45,422,984		—		6,479,611		(114,306,190)		(62,403,595)		481,050,625		—		68,685,883		(1,210,995,749)		(661,259,241)
Class P2
6/30/2018		18,705,843		—		945,768		(14,242,058)		5,409,553		193,190,373		—		9,769,197		(146,706,949)		56,252,621
5/3/2017(1) - 12/31/2017		74,429,560		—		1,166,494		(6,517,361)		69,078,693		789,568,305		—		12,385,981		(69,337,058)		732,617,228
Class S
6/30/2018		981,867		—		185,050		(1,774,860)		(607,943)		10,129,015		—		1,905,344		(18,296,549)		(6,262,190)
12/31/2017		1,656,510		—		463,266		(6,729,013)		(4,609,237)		17,545,787		—		4,897,048		(70,973,500)		(48,530,665)
Class S2
6/30/2018		26,557		—		2,415		(8,183)		20,789		275,059		—		24,871		(83,826)		216,104
12/31/2017		27,769		—		5,434		(82,985)		(49,782)		293,607		—		57,469		(878,540)		(527,464)

(1)

Commencement of operations.

Share amount is less than 0.500.

NOTE 12 — SECURITIES LENDING

investments as defined in the Agreement with BNY. The Portfolios bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Portfolios indemnification from loss with respect to the investment of collateral provided that the cash collateral is invested solely in overnight repurchase agreements.

The cash collateral is invested in overnight repurchase agreements that are collateralized at 102% with securities issued or fully guaranteed by the U.S. Treasury; U.S. government or any agency, instrumentality or authority of the U.S. government. The securities purchased with cash collateral received are reflected in the Portfolio of Investments under Securities Lending Collateral.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 12 — SECURITIES LENDING (continued)

Generally, in the event of counterparty default, the Portfolios have the right to use the collateral to offset losses incurred. The Agreement contains certain guarantees by BNY in the event of counterparty default and/or a borrower’s failure to return a loaned security; however, there would be a potential loss to the Portfolios in the event the Portfolios are delayed or prevented from exercising their right to dispose of the collateral. Engaging in securities lending could have a leveraging effect, which may intensify the credit, market and other risks associated with investing in a Portfolio.

The following tables represent a summary of the respective Portfolios’ securities lending agreements by counterparty which are subject to offset under the Agreement as of June 30, 2018:

Australia Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Barclays Capital Inc.		$	51,176		$	(51,176)		$	—
Barclays Capital Securities Ltd.			337,779			(337,779)			—
Credit Suisse Securities (USA) LLC			114,269			(114,269)			—
Goldman, Sachs & Co. LLC			479,845			(479,845)			—
Goldman Sachs International			187,635			(187,635)			—
HSBC Bank PLC			46,489			(46,489)			—
J.P. Morgan Securities LLC			22,000			(22,000)			—
JP Morgan Securities, Plc.			52,026			(52,026)			—
Macquarie Bank Limited			213,435			(213,435)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			9,868			(9,868)			—
Merrill Lynch International			13,533			(13,533)			—
Morgan Stanley & Co. LLC			110,783			(110,783)			—
UBS Securities LLC			65,810			(65,810)			—
Total		$	1,704,648		$	(1,704,648)		$	—

(1)

Collateral with a fair value of $1,978,593 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Emerging Markets Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
BMO Capital Markets Corp		$	845,427		$	(845,427)		$	—
Credit Suisse Securities (Europe) Limited			433,220			(433,220)			—
Goldman, Sachs & Co. LLC			82,448			(82,448)			—
Goldman Sachs International			132,385			(132,385)			—
HSBC Bank PLC			563,919			(563,919)			—
J.P. Morgan Securities LLC			1,169,474			(1,169,474)			—
JP Morgan Securities, Plc.			1,772,076			(1,772,076)			—
Merrill Lynch International			1,021,392			(1,021,392)			—
Morgan Stanley & Co. LLC			1,076,519			(1,076,519)			—

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
RBC Capital Markets, LLC			608,476			(608,476)			—
UBS AG			95,986			(95,986)			—
Total		$	7,801,322		$	(7,801,322)		$	—

(1)

Collateral with a fair value of $8,988,012 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

FTSE 100 Index®

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Societe Generale		$	1,929,013		$	(1,929,013)		$	—
Total		$	1,929,013		$	(1,929,013)		$	—

(1)

Collateral with a fair value of $2,029,967 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

International Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Barclays Capital Inc.		$	4,291,228		$	(4,291,228)		$	—
Citigroup Global Markets Limited			652,650			(652,650)			—
Citigroup Global Markets Inc.			553,895			(553,895)			—
Credit Suisse Securities (Europe) Limited			402,010			(402,010)			—
Goldman, Sachs & Co. LLC			1,957,278			(1,957,278)			—
Goldman Sachs International			371,253			(371,253)			—
HSBC Bank PLC			2,264,532			(2,264,532)			—
J.P. Morgan Securities LLC			404,308			(404,308)			—
JP Morgan Securities, Plc.			699,477			(699,477)			—
Jefferies LLC			155,834			(155,834)			—
Macquarie Bank Limited			156,450			(156,450)			—
Merrill Lynch International			1,103,787			(1,103,787)			—
Morgan Stanley & Co. LLC			278,605			(278,605)			—
Nomura International PLC			1,331,447			(1,331,447)			—
Nomura Securities International, Inc.			23,105			(23,105)			—
Societe Generale			2,689,200			(2,689,200)			—
UBS AG			428,123			(428,123)			—
Total		$	17,763,182		$	(17,763,182)		$	—

(1)

Collateral with a fair value of $20,458,631 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Japan TOPIX Index®

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Barclays Capital Inc.		$	1,995,049		$	(1,995,049)		$	—
Barclays Capital Securities Ltd.			478,418			(478,418)			—

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 12 — SECURITIES LENDING (continued)

Japan TOPIX Index® (continued)

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
CREDIT SUISSE AG			23,117			(23,117)			—
Citigroup Global Markets Inc.			15,794			(15,794)			—
Credit Suisse Securities (Europe) Limited			269,946			(269,946)			—
Credit Suisse Securities (USA) LLC			27,633			(27,633)			—
Deutsche Bank Securities Inc.			216,870			(216,870)			—
Deutsche Bank, AG			65,534			(65,534)			—
Goldman, Sachs & Co. LLC			272,350			(272,350)			—
HSBC Bank PLC			177,258			(177,258)			—
Macquarie Bank Limited			335,933			(335,933)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			9,785			(9,785)			—
Merrill Lynch International			272,909			(272,909)			—
Nomura Securities International, Inc.			13,250			(13,250)			—
Scotia Capital (USA) INC			128,208			(128,208)			—
UBS AG			9,332			(9,332)			—
Total		$	4,311,386		$	(4,311,386)		$	—

(1)

Collateral with a fair value of $4,546,603 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Russell™ Large Cap Growth Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Citigroup Global Markets Inc.		$	644,221		$	(644,221)		$	—
J.P. Morgan Securities LLC			2,569,536			(2,569,536)			—
WELLS FARGO BANK NA			199,810			(199,810)			—
Total		$	3,413,567		$	(3,413,567)		$	—

(1)

Collateral with a fair value of $3,486,951 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Russell™ Large Cap Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
J.P. Morgan Securities LLC		$	1,823,135		$	(1,823,135)		$	—
Wells Fargo Securities LLC			422,366			(422,366)			—
Total		$	2,245,501		$	(2,245,501)		$	—

(1)

Collateral with a fair value of $2,293,992 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Russell™ Mid Cap Growth Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
BMO Capital Markets Corp		$	75,972		$	(75,972)		$	—
Barclays Bank PLC			452,235			(452,235)			—
CIBC World Markets INC			7,306			(7,306)			—
CREDIT SUISSE AG			688,888			(688,888)			—
Citadel Clearing LLC			660,338			(660,338)			—
Citigroup Global Markets Inc.			983,559			(983,559)			—
Credit Suisse Securities (USA) LLC			276,725			(276,725)			—
Deutsche Bank Securities Inc.			297,353			(297,353)			—
Goldman, Sachs & Co. LLC			1,238,207			(1,238,207)			—
HSBC Bank PLC			322,289			(322,289)			—
J.P. Morgan Securities LLC			1,774,172			(1,774,172)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			17,003			(17,003)			—
Morgan Stanley & Co. LLC			1,185,707			(1,185,707)			—
National Financial Services LLC			467,507			(467,507)			—
Natixis Securities America LLC			608,081			(608,081)			—
Nomura Securities International, Inc.			56,820			(56,820)			—
RBC Dominion Securities Inc			25,388			(25,388)			—
Scotia Capital (USA) INC			1,308,503			(1,308,503)			—
TD PRIME SERVICES LLC			86,113			(86,113)			—
Wells Fargo Securities LLC			412,453			(412,453)			—
Total		$	10,944,619		$	(10,944,619)		$	—

(1)

Collateral with a fair value of $11,251,163 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Russell™ Mid Cap Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
BMO Capital Markets Corp		$	1,379,813		$	(1,379,813)		$	—
Barclays Bank PLC			1,807,922			(1,807,922)			—
Barclays Capital Inc.			197,208			(197,208)			—
Citadel Clearing LLC			412,625			(412,625)			—
Citigroup Global Markets Inc.			1,295,582			(1,295,582)			—
Deutsche Bank Securities Inc.			264,875			(264,875)			—
Goldman, Sachs & Co. LLC			4,200,116			(4,200,116)			—
HSBC Bank PLC			538,504			(538,504)			—
J.P. Morgan Securities LLC			5,972,473			(5,972,473)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			726,817			(726,817)			—
Mizuho Securities USA LLC.			111,606			(111,606)			—
Morgan Stanley & Co. LLC			5,175,150			(5,175,150)			—
National Financial Services LLC			964,902			(964,902)			—

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 12 — SECURITIES LENDING (continued)

Russell™ Mid Cap Index (continued)

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Natixis Securities America LLC			2,545,003			(2,545,003)			—
Nomura Securities International, Inc.			222,531			(222,531)			—
RBC Dominion Securities Inc			382,042			(382,042)			—
Scotia Capital (USA) INC			1,397,143			(1,397,143)			—
TD PRIME SERVICES LLC			1,199,131			(1,199,131)			—
UBS AG			148,127			(148,127)			—
Wells Fargo Securities LLC			800,474			(800,474)			—
Total		$	29,742,044		$	(29,742,044)		$	—

(1)

Collateral with a fair value of $30,556,939 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Russell™ Small Cap Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
BMO Capital Markets Corp		$	1,385,919		$	(1,385,919)		$	—
BNP Paribas Prime Brokerage Intl Ltd			927			(927)			—
BNP Paribas			437,430			(437,430)			—
BNP Paribas Securities Corp.			255,180			(255,180)			—
Barclays Capital Inc.			3,181,056			(3,181,056)			—
Citadel Clearing LLC			62,998			(62,998)			—
Citigroup Global Markets Inc.			1,427,316			(1,427,316)			—
Deutsche Bank Securities Inc.			1,957,599			(1,957,599)			—
Goldman, Sachs & Co. LLC			7,543,912			(7,543,912)			—
HSBC Bank PLC			1,605,168			(1,605,168)			—
Industrial And Commercial Bank Of China			244,799			(244,799)			—
J.P. Morgan Securities LLC			13,337,826			(13,337,826)			—
Janney Montgomery Scott LLC			26,892			(26,892)			—
MUFG Securities Americas Inc.			22,426			(22,426)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			2,713,390			(2,713,390)			—
Mizuho Securities USA LLC.			4,091			(4,091)			—
Morgan Stanley & Co. LLC			13,002,854			(13,002,854)			—
NATIONAL BANK OF CANADA FINANCIAL INC			900,449			(900,449)			—
National Financial Services LLC			3,562,332			(3,562,332)			—
Natixis Securities America LLC			991,302			(991,302)			—
RBC Dominion Securities Inc			4,815,284			(4,815,284)			—
SG Americas Securities, LLC			2,566,827			(2,566,827)			—
Scotia Capital (USA) INC			7,334,840			(7,334,840)			—

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
TD PRIME SERVICES LLC			2,334,971			(2,334,971)			—
UBS AG			1,225,849			(1,225,849)			—
Wells Fargo Securities LLC			3,281,796			(3,281,796)			—
Total		$	74,223,433		$	(74,223,433)		$	—

(1)

Collateral with a fair value of $76,348,025 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

U.S. Bond Index

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount

BMO Capital Markets Corp		$	248,250		$	(248,250)		$	—
Barclays Bank PLC			1,466,846			(1,466,846)			—
Citadel Clearing LLC			486,159			(486,159)			—
Citigroup Global Markets Inc.			1,067,719			(1,067,719)			—
Credit Suisse Securities (USA) LLC			69,833			(69,833)			—
Goldman, Sachs & Co. LLC			5,131,896			(5,131,896)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			21,003,976			(21,003,976)			—
Morgan Stanley & Co. LLC			25,957,684			(25,957,684)			—
Nomura Securities International, Inc.			493,229			(493,229)			—
SunTrust Robinson Humphrey, Inc			1,453,978			(1,453,978)			—
Scotia Capital (USA) INC			711,347			(711,347)			—
UBS Securities LLC.			111,124			(111,124)			—
Wells Fargo Securities LLC			640,554			(640,554)			—
Total		$	58,842,595		$	(58,842,595)		$	—

(1)

Collateral with a fair value of $60,151,217 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

NOTE 13 — SECURITIES LENDING SETTLEMENT

In February 2018, Voya Investments and Directed Services LLC (collectively, the “Respondent”) entered into a settlement agreement (the “Settlement”) with the Securities and Exchange Commission related to certain securities lending practices employed within various insurance-dedicated Voya mutual funds. The Respondent paid disgorgement, prejudgment interest and a civil money penalty of $3,647,469, including payments to the impacted mutual funds totaling $2,024,355. During the six-month period ended June 30, 2018, Russell Mid Cap Index and Russell Small Cap Index received payments of $234,477 and $374,848, respectively, related to the Settlement and such amounts are recorded in Settlement Income in the accompanying Statements of Operations.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 14 — FEDERAL INCOME TAXES

The amount of distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of short-term capital gains, foreign currency transactions, income from passive foreign investment companies (PFICs), paydown gains, wash sale deferrals and the expiration of capital loss carryforwards. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as return of capital.

Dividends paid by the Portfolios from net investment income and distributions of net realized short-term capital gains are, for federal income tax purposes, taxable as ordinary income to shareholders.

The tax composition of dividends and distributions to shareholders was as follows:

	Six Months Ended June 30, 2018						Year Ended December 31, 2017
	Ordinary Income			Long-term Capital Gains			Ordinary Income			Long-term Capital Gains
Australia Index		$	5,446,682		$	—		$	4,731,859		$	—
Emerging Markets Index			17,147,342			—			9,916,676			—
Euro STOXX 50® Index			10,432,569			6,314,624			15,005,455			—
FTSE 100 Index®			12,095,704			6,512,647			10,852,067			9,377,821
Hang Seng Index			4,078,123			7,246,620			1,030,637			—
International Index			44,807,040			—			33,390,709			—
Japan TOPIX Index®			7,401,803			20,199,907			6,068,898			7,035,726
Russell™ Large Cap Growth Index			10,951,219			19,687,926			6,775,257			—
Russell™ Large Cap Index			12,880,462			—			13,006,191			—
Russell™ Large Cap Value Index			11,709,648			10,168,306			8,356,373			—
Russell™ Mid Cap Growth Index			9,125,044			25,069,241			2,072,289			—
Russell™ Mid Cap Index			34,072,419			188,732,497			28,440,467			132,447,004
Russell™ Small Cap Index			15,225,431			43,487,089			7,933,959			56,947,199
U.S. Bond Index			40,063,262			—			85,482,389			1,397,230

The tax-basis components of distributable earnings and the capital loss carryforwards which may be used to offset future realized capital gains for federal income tax purposes as of December 31, 2017 are detailed below. The Regulated Investment Company Modernization Act of 2010 (the “Act”) provides an unlimited carryforward period for newly generated capital losses. Under the Act, there may be a greater likelihood that all or a portion of the Portfolios’ pre-enactment capital loss carryforwards may expire without being utilized due to the fact that post-enactment capital losses are required to be utilized before pre-enactment capital loss carryforwards.

	Undistributed Ordinary Income			Undistributed Long-term Capital Gains			Unrealized Appreciation/ (Depreciation)			Capital Loss Carryforwards
	Undistributed Ordinary Income			Undistributed Long-term Capital Gains			Unrealized Appreciation/ (Depreciation)			Amount			Character		Expiration
Australia Index		$	5,442,870		$	—		$	7,793,888		$	(351,310)		Short-term	None
												(31,669,185)		Long-term	None
											$	(32,020,495)
Emerging Markets Index			17,146,291			—			107,316,494			(7,470,658)		Short-term	None
												(30,325,408)		Long-term	None
											$	(37,796,066)
Euro STOXX 50® Index			10,431,954			6,311,705			55,665,988			—		—	—
FTSE 100 Index®			12,093,427			6,510,660			23,579,846			—		—	—
Hang Seng Index			4,077,815			7,245,591			27,205,385			—		—	—
International Index			44,802,776			—			281,464,546			(1,826,920)		Short-term	2018
												(2,568,107)		Short-term	None
												(35,997,051)		Long-term	None
											$	(40,392,078)*

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 14 — FEDERAL INCOME TAXES (continued)

	Undistributed Ordinary Income		Undistributed Long-term Capital Gains		Unrealized Appreciation/ (Depreciation)		Capital Loss Carryforwards
	Undistributed Ordinary Income		Undistributed Long-term Capital Gains		Unrealized Appreciation/ (Depreciation)		Amount		Character		Expiration
Japan TOPIX Index®		7,399,490		20,198,072		89,364,563		—		—	—
Russell™ Large Cap Growth Index		10,949,869		19,687,741		407,026,906		—		—	—
Russell™ Large Cap Index		12,880,874		—		577,992,928		(8,688,924)		Short-term	2018
Russell™ Large Cap Value Index		11,710,724		10,161,933		118,185,671		—		—	—
Russell™ Mid Cap Growth Index		9,125,862		25,065,576		136,339,877		—		—	—
Russell™ Mid Cap Index		34,205,656		188,598,234		932,914,169		—		—	—
Russell™ Small Cap Index		15,240,901		43,469,777		347,931,583		—		—	—
U.S. Bond Index		8,963,083		1,213,558		48,253,578		—		—	—

Utilization of these capital losses is subject to annual limitations under Section 382 of the Internal Revenue Code. Amounts and years of expiration may be adjusted to reflect future gain/loss activity to comply with the limitation rules.

The Portfolios’ major tax jurisdictions are U.S. federal and Arizona state.

As of June 30, 2018, no provision for income tax is required in the Portfolios’ financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Portfolios’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. The earliest tax year that remains subject to examination by these jurisdictions is 2013.

NOTE 15 — SUBSEQUENT EVENTS

Dividends: Subsequent to June 30, 2018, the following Portfolio declared dividends from net investment income of:

Per Share
Amount

Payable
Date

Record
Date

U.S. Bond Index

Class ADV

0.0161

August 1, 2018

Daily

Class I

0.0205

August 1, 2018

Daily

Class P2

0.0227

August 1, 2018

Daily

Class S

0.0183

August 1, 2018

Daily

Class S2

0.0170

August 1, 2018

Daily

The Portfolios have evaluated events occurring after the Statements of Assets and Liabilities date (“subsequent events”) to determine whether any subsequent events necessitated adjustment to or disclosure in the financial statements. Other than the above, no such subsequent events were identified.

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Australia Index Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Financials			33.0%
	Materials			18.5%
	Health Care			8.4%
	Consumer Staples			8.0%
	Real Estate			7.5%
	Industrials			7.1%
	Energy			5.7%
	Consumer Discretionary			4.8%
	Information Technology			2.4%
	Telecommunication Services			2.2%
	Utilities			2.0%
	Assets in Excess of Other Liabilities*			0.4%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 99.6%
			Consumer Discretionary: 4.8%
	55,845		Aristocrat Leisure Ltd.		$	1,275,353		1.2
	176,189		Tabcorp Holdings Ltd.			580,825		0.6
	911,094	(1)(2)	Other Securities			3,273,172		3.0
						5,129,350		4.8
			Consumer Staples: 8.0%
	62,993		Treasury Wine Estates Ltd.			809,336		0.7
	99,384		Wesfarmers Ltd.			3,626,155		3.4
	115,116		Woolworths Group Ltd			2,599,748		2.4
	301,921	(1)(2)	Other Securities			1,641,497		1.5
						8,676,736		8.0
			Energy: 5.7%
	22,861		Caltex Australia Ltd.			550,167		0.5
	115,837		Oil Search Ltd.			761,044		0.7
	154,074 (3)		Origin Energy Ltd.			1,142,790		1.0
	154,420 (3)		Santos Ltd.			715,220		0.7
	82,047		Woodside Petroleum Ltd.			2,150,164		2.0
	241,839		Other Securities			846,863		0.8
						6,166,248		5.7
			Financials: 33.0%
	256,582		AMP Ltd.			674,863		0.6
	16,967		ASX Ltd.			808,779		0.8
	253,694		Australia & New Zealand Banking Group Ltd.			5,309,709		4.9
	154,255		Commonwealth Bank of Australia			8,319,369		7.7

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Financials (continued)
	207,520		Insurance Australia Group Ltd.		$	1,309,182		1.2
	27,739		Macquarie Group Ltd.			2,528,028		2.3
	241,396		Medibank Pvt Ltd.			521,230		0.5
	238,350		National Australia Bank Ltd.			4,839,605		4.5
	119,641		QBE Insurance Group Ltd.			861,326		0.8
	113,600		Suncorp Group Ltd.			1,225,119		1.1
	300,067		Westpac Banking Corp.			6,516,546		6.0
	440,366 (1)		Other Securities			2,751,633		2.6
						35,665,389		33.0
			Health Care: 8.4%
	5,021		Cochlear Ltd.			743,368		0.7
	39,661		CSL Ltd.			5,645,472		5.2
	37,216		Sonic Healthcare Ltd.			675,101		0.6
	568,224	(1)(2)	Other Securities			2,043,322		1.9
						9,107,263		8.4
			Industrials: 7.1%
	174,440		Aurizon Holdings Ltd.			557,849		0.5
	139,209		Brambles Ltd.			913,945		0.9
	149,567		Qantas Airways Ltd.			681,068		0.6
	197,347		Sydney Airport			1,044,744		1.0
	194,473		Transurban Group - Stapled Security			1,722,120		1.6
	850,871	(1)(2)(4)	Other Securities			2,694,869		2.5
						7,614,595		7.1
			Information Technology: 2.4%
	43,884		Computershare Ltd.			597,809		0.6
	240,346	(1)(2)	Other Securities			1,982,225		1.8
						2,580,034		2.4
			Materials: 18.5%
	101,514		Amcor Ltd.			1,081,600		1.0
	281,293		BHP Billiton Ltd.			7,038,520		6.5
	48,225		BlueScope Steel Ltd.			615,475		0.6
	102,756		Boral Ltd.			495,748		0.4
	38,864		James Hardie Industries SE			651,598		0.6
	66,909		Newcrest Mining Ltd.			1,086,411		1.0
	36,149		Rio Tinto Ltd.			2,233,477		2.1
	450,412		South32 Ltd.			1,202,746		1.1
	1,697,575	(1)(2)	Other Securities			5,608,995		5.2
						20,014,570		18.5
			Real Estate: 7.5%
	88,458		Dexus			635,815		0.6
	140,495		Goodman Group			1,001,565		0.9
	157,320		GPT Group			588,618		0.6

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Australia Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate (continued)
	51,143		Lend Lease Corp., Ltd.		$	748,815		0.7
	324,763		Mirvac Group			521,248		0.5
	466,689		Scentre Group			1,516,298		1.4
	213,388		Stockland			626,976		0.6
	61,848 (3)		Unibail Group Stapled			671,455		0.6
	281,666		Vicinity Centres			540,185		0.5
	571,643		Other Securities			1,204,838		1.1
						8,055,813		7.5
			Telecommunication Services: 2.2%
	1,042,479		Telstra Corp., Ltd.			2,016,301		1.8
	143,278	(1)(2)	Other Securities			402,594		0.4
						2,418,895		2.2
			Utilities: 2.0%
	57,673		AGL Energy Ltd.			959,608		0.9
	103,420		APA Group			753,459		0.7
	384,121 (2)		Other Securities			470,879		0.4
						2,183,946		2.0
			Total Common Stock (Cost $100,094,039)			107,612,839		99.6
RIGHTS: —%
			Consumer Discretionary: —%
	5,636 (2)		Other Securities			—		—
			Industrials: —%
	20,935 (2)		Other Securities			—		—
			Real Estate: —%
	72,917	(2)(4)	Other Securities			—		—
			Total Rights (Cost $—)			—		—
			Total Long-Term Investments (Cost $100,094,039)			107,612,839		99.6

Principal
Amount†

Value

Percentage
of Net
Assets

SHORT-TERM INVESTMENTS: 2.8%

Securities Lending Collateral(5): 1.8%

1,978,593

Cantor Fitzgerald
Securities, Repurchase
Agreement dated 06/29/18,
2.08%, due 07/02/18
(Repurchase Amount
$1,978,931, collateralized
by various U.S. Government
Agency Obligations,
1.691%-8.500%, Market
Value plus accrued interest
$2,018,165, due
07/25/18-06/15/53)
(Cost $1,978,593)

1,978,593

1.8

Shares			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Mutual Funds: 1.0%
	1,059,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $1,059,000)		$	1,059,000		1.0
		Total Short-Term Investments (Cost $3,037,593)			3,037,593		2.8
		Total Investments in Securities (Cost $103,131,632)		$	110,650,432		102.4
		Liabilities in Excess of Other Assets			(2,592,447)		(2.4)
		Net Assets		$	108,057,985		100.0

“Other Securities” represents issues not identified as the top 50 holdings in terms of market value and issues or issuers not exceeding 1% of net assets individually or in aggregate respectively as of June 30, 2018.

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

The grouping contains securities on loan.

(2)

The grouping contains non-income producing securities.

(3)

Non-income producing security.

(4)

The grouping contains Level 3 securities.

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Australia Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary		$	105,974		$	5,023,376		$	—		$	5,129,350
Consumer Staples			—			8,676,736			—			8,676,736
Energy			—			6,166,248			—			6,166,248
Financials			—			35,665,389			—			35,665,389
Health Care			—			9,107,263			—			9,107,263
Industrials			275,071			7,339,524			—			7,614,595
Information Technology			—			2,580,034			—			2,580,034
Materials			—			20,014,570			—			20,014,570
Real Estate			671,455			7,384,358			—			8,055,813
Telecommunication Services			—			2,418,895			—			2,418,895
Utilities			—			2,183,946			—			2,183,946
Total Common Stock			1,052,500			106,560,339			—			107,612,839
Rights			—			—			—			—
Short-Term Investments			1,059,000			1,978,593			—			3,037,593
Total Investments, at fair value		$	2,111,500		$	108,538,932		$	—		$	110,650,432
Other Financial Instruments+
Futures			28,665			—			—			28,665
Total Assets		$	2,140,165		$	108,538,932		$	—		$	110,679,097
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts		$	—		$	(10,747)		$	—		$	(10,747)
Total Liabilities		$	—		$	(10,747)		$	—		$	(10,747)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

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 valued at the unrealized gain (loss) on the instrument. OTC swaps and written options are valued at the fair value of the instrument.

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 Portfolio 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 Portfolio’s investments are categorized as Level 2 investments.

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya Australia Index Portfolio:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

AUD 2,180,000

USD 1,621,796

JPMorgan Chase Bank N.A.

09/19/18

(8,093)

USD 147,352

AUD 200,000

State Street Bank and Trust Co.

09/19/18

(694)

USD 242,317

AUD 330,000

State Street Bank and Trust Co.

09/19/18

(1,960)

(10,747)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Australia Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the following futures contracts were outstanding for Voya Australia Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
ASX SPI 200® Index		12		09/21/18		$	1,364,948		$	28,665
						$	1,364,948		$	28,665

Currency Abbreviations

AUD – Australian Dollar

USD – United States Dollar

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Asset Derivatives
Equity contracts	Net Assets — Unrealized appreciation*		$	28,665
Total Asset Derivatives			$	28,665
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	10,747
Total Liability Derivatives			$	10,747

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(207,407)		$	—		$	(207,407)
Equity contracts			—			119,702			119,702
Total		$	(207,407)		$	119,702		$	(87,705)

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(16,622)		$	—		$	(16,622)
Equity contracts			—			28,883			28,883
Total		$	(16,622)		$	28,883		$	12,261

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	JPMorgan Chase Bank N.A.			State Street Bank and Trust Co.			Totals
Liabilities:
Forward foreign currency contracts		$	8,093		$	2,654		$	10,747
Total Liabilities		$	8,093		$	2,654		$	10,747
Net OTC derivative instruments by counterparty, at fair value		$	(8,093)		$	(2,654)			(10,747)
Total collateral pledged by the Portfolio/(Received from counterparty)		$	—		$	—		$	—
Net Exposure(1)		$	(8,093)		$	(2,654)		$	(10,747)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Australia Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

(1)

Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Portfolio. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features.

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $105,629,079.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	13,294,424
Gross Unrealized Depreciation		(8,165,281)
Net Unrealized Appreciation	$	5,129,143

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Emerging Markets Index

SUMMARY PORTFOLIO OF INVESTMENTS

Portfolio

as of June 30, 2018 (Unaudited)

	Geographic Diversification as of June 30, 2018 (as a percentage of net assets)

	China			31.8%
	South Korea			14.2%
	Taiwan			11.3%
	India			8.4%
	South Africa			6.3%
	Brazil			5.7%
	Russia			3.3%
	Mexico			2.9%
	Malaysia			2.3%
	Thailand			2.1%
	Countries between 0.0% – 1.9%^			8.8%
	Assets in Excess of Other Liabilities*			2.9%
	Net Assets			100.0%
	* Includes short-term investments.
	^ Includes 16 countries, which each represents 0.0% – 1.9% of net assets.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 94.2%
			Brazil: 3.7%
	746,400		Ambev SA		$	3,462,626		0.4
	152,437		Banco Bradesco SA			951,809		0.1
	458,700		Petroleo Brasileiro SA			2,296,015		0.3
	497,474		Vale SA			6,338,197		0.8
	3,288,986 (1)		Other Securities			17,866,500		2.1
						30,915,147		3.7
			Chile: 0.9%
	48,769,658		Other Securities			7,960,696		0.9
			China: 31.8%
	195,500 (2)		3SBio, Inc.			441,765		0.1
	181,280 (3)		Alibaba Group Holding Ltd. ADR			33,632,878		4.0
	532,000 (3)		Alibaba Health Information Technology Ltd.			511,942		0.1
	2,120,000	(3)(4)	Alibaba Pictures Group Ltd.			231,799		0.0
	266,500 (2)		BAIC Motor Corp. Ltd. - H Shares			253,653		0.0
	43,307 (3)		Baidu, Inc. ADR			10,523,601		1.3
	12,559,000		Bank of China Ltd. - H Shares			6,228,320		0.7
	1,716,000 (2)		CGN Power Co. Ltd. - H Shares			443,089		0.1
	15,135,000		China Construction Bank - H Shares			13,849,152		1.6

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			China (continued)
	1,513,000 (2)		China Huarong Asset Management Co. Ltd. - H Shares		$	436,159		0.1
	157,200 (2)		China International Capital Corp. Ltd. - H Shares			278,684		0.0
	1,195,000		China Life Insurance Co., Ltd. - H Shares			3,065,763		0.4
	27,400	(2)(3)	China Literature Ltd. - H Shares			256,437		0.0
	973,000		China Mobile Ltd.			8,633,377		1.0
	4,033,600		China Petroleum & Chemical Corp. - H Shares			3,610,546		0.4
	214,000 (2)		China Railway Signal & Communication Corp. Ltd. - H Shares			151,510		0.0
	226,000		China Resources Beer Holdings Co Ltd.			1,094,395		0.1
	136,000		China Resources Gas Group Ltd.			587,955		0.1
	430,444		China Resources Land Ltd.			1,445,885		0.2
	268,000 (2)		China Resources Pharmaceutical Group Ltd.			370,551		0.0
	306,000		China Resources Power Holdings Co.			537,770		0.1
	2,829,000		CNOOC Ltd.			4,847,620		0.6
	62,295 (3)		Ctrip.com International Ltd. ADR			2,967,111		0.4
	303,000 (2)		Dali Foods Group Co. Ltd.			233,116		0.0
	80,400 (2)		Fuyao Glass Industry Group Co. Ltd. - H Shares			271,677		0.0
	89,200 (2)		Guotai Junan Securities Co. Ltd. -H Shares			189,032		0.0
	262,800 (2)		Huatai Securities Co. Ltd. - H Shares			416,770		0.1
	10,918,000		Industrial & Commercial Bank of China - H Shares			8,143,084		1.0
	113,737 (3)		JD.com, Inc. ADR			4,430,056		0.5
	51,100 (2)		Legend Holdings Corp. - H Shares			155,378		0.0
	261,500	(2)(3)	Meitu, Inc.			227,405		0.0
	12,508		NetEase, Inc. ADR			3,160,396		0.4
	3,342,000		PetroChina Co., Ltd. - H Shares			2,545,985		0.3
	813,500		Ping An Insurance Group Co. of China Ltd. - H Shares			7,449,768		0.9
	440,000 (2)		Postal Savings Bank of China Co. Ltd. - H Shares			285,631		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Emerging Markets Index

SUMMARY PORTFOLIO OF INVESTMENTS

Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			China (continued)
	894,500		Tencent Holdings Ltd.		$	44,917,678		5.3
	77,000	(2)(3)	Wuxi Biologics Cayman, Inc. - H Shares			854,172		0.1
	24,600	(2)(3)	ZhongAn Online P&C Insurance Co. Ltd. - H Shares			154,727		0.0
	83,510,908	(1)(5)(6)	Other Securities			100,084,329		11.9
						267,919,166		31.8
			Colombia: 0.4%
	1,035,032		Other Securities			3,394,536		0.4
			Czech Republic: 0.2%
	73,437 (2)		Moneta Money Bank AS			251,964		0.0
	47,683 (5)		Other Securities			1,232,661		0.2
						1,484,625		0.2
			Egypt: 0.1%
	188,198		Other Securities			1,053,229		0.1
			Greece: 0.3%
	1,517,813	(1)(6)	Other Securities			2,527,225		0.3
			Hungary: 0.3%
	113,486		Other Securities			2,198,769		0.3
			India: 8.4%
	19,639	(2)(3)	Avenue Supermarts Ltd.			426,054		0.0
	102,978		Hindustan Unilever Ltd.			2,466,387		0.3
	249,063		Housing Development Finance Corp.			6,940,036		0.8
	66,182		Infosys Ltd. ADR			1,285,916		0.2
	207,109		Infosys Ltd.			3,970,488		0.5
	14,095 (2)		InterGlobe Aviation Ltd.			224,131		0.0
	60,210		Reliance Industries Ltd. GDR			1,691,901		0.2
	327,415		Reliance Industries Ltd.			4,651,891		0.5
	144,723		Tata Consultancy Services Ltd.			3,903,205		0.5
	7,397,076 (1)		Other Securities			45,375,191		5.4
						70,935,200		8.4
			Indonesia: 1.9%
	46,700,531		Other Securities			15,639,615		1.9
			Malaysia: 2.3%
	456,700		Public Bank BHD			2,641,970		0.3
	12,104,056 (1)		Other Securities			16,513,648		2.0
						19,155,618		2.3
			Mexico: 2.9%
	5,306,800		America Movil SAB de CV			4,430,294		0.5
	307,000		Fomento Economico Mexicano SAB de CV			2,698,041		0.3
	7,325,987	(1)(5)	Other Securities			17,357,922		2.1
						24,486,257		2.9

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Pakistan: 0.1%
	374,250		Other Securities		$	586,616		0.1
			Peru: 0.3%
	10,642		Credicorp Ltd.			2,395,727		0.3
	28,198		Other Securities			384,339		0.0
						2,780,066		0.3
			Philippines: 0.9%
	10,686,982 (1)		Other Securities			7,757,701		0.9
			Poland: 1.1%
	7,286	(2)(3)	Dino Polska SA			201,180		0.0
	18,232 (2)		PLAY Communications SA			124,279		0.0
	1,038,978	(1)(5)	Other Securities			8,698,171		1.1
						9,023,630		1.1
			Qatar: 0.8%
	66,896		Qatar National Bank QPSC			2,794,002		0.4
	326,693 (1)		Other Securities			3,551,255		0.4
						6,345,257		0.8
			Romania: 0.1%
	58,057		Other Securities			518,291		0.1
			Russia: 3.2%
	1,583,063		Gazprom PJSC			3,571,379		0.4
	66,147		Lukoil PJSC			4,600,123		0.6
	1,185,442		Sberbank of Russia PJSC			4,117,713		0.5
	50,730		Sberbank PAO ADR			728,229		0.1
	237,915		Tatneft PJSC			2,573,365		0.3
	706,651,496 (1)		Other Securities			10,943,075		1.3
						26,533,884		3.2
			Singapore: 0.0%
	29,200 (2)		BOC Aviation Ltd.			181,202		0.0
			South Africa: 6.3%
	532,008		FirstRand Ltd.			2,471,391		0.3
	68,764		Naspers Ltd.			17,338,419		2.1
	87,450		Sasol Ltd.			3,180,280		0.4
	204,289		Standard Bank Group Ltd.			2,852,320		0.3
	5,434,436	(1)(5)	Other Securities			27,335,982		3.2
						53,178,392		6.3
			South Korea: 13.5%
	12,781 (3)		Celltrion, Inc.			3,472,407		0.4
	2,127		Hyundai Department Store Co. Ltd.			220,496		0.0
	12,190		Hyundai Engineering & Construction Co. Ltd.			629,811		0.1
	5,700 (3)		Hyundai Heavy Industries Co. Ltd			521,265		0.1
	10,804		Hyundai Mobis Co. Ltd.			2,054,931		0.2
	24,571		Hyundai Motor Co.			2,761,631		0.3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Emerging Markets Index

SUMMARY PORTFOLIO OF INVESTMENTS

Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			South Korea (continued)
	12,433		Hyundai Steel Co.		$	586,506		0.1
	5,285	(2)(3)	ING Life Insurance Korea Ltd.			198,411		0.0
	62,854		KB Financial Group, Inc.			2,958,649		0.4
	7,181		LG Chem Ltd.			2,149,335		0.3
	14,602		LG Corp.			944,013		0.1
	35,749		LG Display Co., Ltd.			586,480		0.1
	16,989		LG Electronics, Inc.			1,264,920		0.2
	1,471		LG Household & Health Care Ltd.			1,843,270		0.2
	2,202		LG Innotek Co. Ltd.			285,564		0.0
	4,446		NAVER Corp.			3,042,419		0.4
	3,956 (2)		Netmarble Corp.			541,227		0.1
	12,470		POSCO			3,679,397		0.4
	2,601	(2)(3)	Samsung Biologics Co. Ltd.			973,538		0.1
	11,949		Samsung C&T Corp.			1,249,397		0.2
	4,454		Samsung Card Co.			153,133		0.0
	8,727		Samsung Electro-Mechanics Co. Ltd.			1,161,904		0.1
	755,100		Samsung Electronics Co., Ltd.			31,630,823		3.8
	4,755		Samsung Fire & Marine Insurance Co. Ltd.			1,126,653		0.1
	60,239 (3)		Samsung Heavy Industries Co., Ltd.			385,743		0.1
	10,858		Samsung Life Insurance Co. Ltd.			958,512		0.1
	8,650		Samsung SDI Co., Ltd.			1,659,143		0.2
	5,439		Samsung SDS Co. Ltd.			976,602		0.1
	10,386		Samsung Securities Co. Ltd.			324,184		0.0
	67,610		Shinhan Financial Group Co., Ltd.			2,617,734		0.3
	91,340		SK Hynix, Inc.			7,011,190		0.8
	876,990	(1)(6)	Other Securities			35,708,009		4.2
						113,677,297		13.5
			Taiwan: 11.3%
	391,347		China Life Insurance Co., Ltd.			411,540		0.0
	716,600		Formosa Plastics Corp.			2,640,884		0.3
	2,595,463		HON HAI Precision Industry Co., Ltd.			7,072,812		0.8
	3,866,000		Taiwan Semiconductor Manufacturing Co., Ltd.			27,452,773		3.3

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Taiwan (continued)
	43,246,689 (1)	Other Securities		$	57,978,996		6.9
					95,557,005		11.3
		Thailand: 2.1%
	5,900	PTT Exploration & Production PCL			24,976		0.0
	7,500	PTT Global Chemical PCL			16,509		0.0
	1,701,800	PTT PCL			2,460,413		0.3
	15,147,241 (5)	Other Securities			15,343,979		1.8
					17,845,877		2.1
		Turkey: 0.7%
	2,965,360 (1)	Other Securities			6,169,271		0.7
		United Arab Emirates: 0.6%
	3,070,260 (1)	Other Securities			5,004,243		0.6
		Total Common Stock (Cost $713,717,225)			792,828,815		94.2
PREFERRED STOCK: 2.9%
		Brazil: 2.0%
	536,321	Banco Bradesco SA			3,705,780		0.5
	508,350	Itau Unibanco Holding S.A.			5,266,143		0.6
	624,400	Petroleo Brasileiro SA			2,766,161		0.3
	1,263,306 (1)	Other Securities			4,764,897		0.6
					16,502,981		2.0
		Chile: 0.1%
	64,720	Other Securities			1,096,307		0.1
		Colombia: 0.0%
	590,640	Other Securities			468,505		0.0
		Russia: 0.1%
	1,073,195	Other Securities			729,250		0.1
		South Korea: 0.7%
	338	LG Household & Health Care Ltd.			221,455		0.0
	134,318	Samsung Electronics Co., Ltd.			4,535,771		0.5
	12,259	Other Securities			1,178,985		0.2
					5,936,211		0.7
		Total Preferred Stock (Cost $24,923,885)			24,733,254		2.9
RIGHTS: —%
		Taiwan: —%
	50,856 (1)	Other Securities			—		—
		Total Rights (Cost $—)			—		—
		Total Long-Term Investments (Cost $738,641,110)			817,562,069		97.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Emerging Markets Index

SUMMARY PORTFOLIO OF INVESTMENTS

Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.1%
		Securities Lending Collateral(7): 1.1%
	2,134,753	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $2,135,118, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $2,177,448, due 07/25/18-06/15/53)		$	2,134,753		0.2
	2,583,753	National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $2,584,180, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $2,635,429, due 09/06/18-09/09/49)			2,583,753		0.3
	2,134,753	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $2,135,095, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $2,177,454, due 01/31/20-09/09/49)			2,134,753		0.3
	2,134,753	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $2,135,157, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $2,177,464, due 07/15/19-02/15/48)			2,134,753		0.3
					8,988,012		1.1

Shares			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Mutual Funds: 2.0%
	17,042,000 (8)	Morgan Stanley Institutional Liquidity Funds – Government Portfolio (Institutional Share Class), 1.810% (Cost $17,042,000)		$	17,042,000		2.0
		Total Short-Term Investments (Cost $26,030,012)			26,030,012		3.1
		Total Investments in Securities (Cost $764,671,122)		$	843,592,081		100.2
		Liabilities in Excess of Other Assets			(1,547,196)		(0.2)
		Net Assets		$	842,044,885		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

ADR

American Depositary Receipt

GDR

Global Depositary Receipt

(1)

The grouping contains non-income producing securities.

(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)

Non-income producing security.

(4)

Security, or a portion of the security, is on loan.

(5)

The grouping contains securities on loan.

(6)

The grouping contains Level 3 securities.

(7)

Represents securities purchased with cash collateral received for securities on loan.

(8)

Rate shown is the 7-day yield as of June 30, 2018.

Sector Diversification	Percentage of Net Assets
Information Technology		27.3%
Financials		22.0
Consumer Discretionary		9.5
Materials		7.7
Energy		7.2
Consumer Staples		6.5
Industrials		4.6
Telecommunication Services		4.3
Health Care		3.2

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Emerging Markets Index

SUMMARY PORTFOLIO OF INVESTMENTS

Portfolio

as of June 30, 2018 (Unaudited) (continued)

Sector Diversification	Percentage of Net Assets
Real Estate		2.5
Utilities		2.3
Short-Term Investments		3.1
Liabilities in Excess of Other Assets		(0.2)
Net Assets		100.0%

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 in valuing the assets and liabilities:(1)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Brazil		$	30,915,147		$	—		$	—		$	30,915,147
Chile			7,960,696			—			—			7,960,696
China			70,645,370			197,273,796			—			267,919,166
Colombia			3,394,536			—			—			3,394,536
Czech Republic			113,881			1,370,744			—			1,484,625
Egypt			284,218			769,011			—			1,053,229
Greece			—			2,502,847			24,378			2,527,225
Hungary			—			2,198,769			—			2,198,769
India			3,401,683			67,533,517			—			70,935,200
Indonesia			—			15,639,615			—			15,639,615
Malaysia			1,291,558			17,864,060			—			19,155,618
Mexico			24,486,257			—			—			24,486,257
Pakistan			459,391			127,225			—			586,616
Peru			2,780,066			—			—			2,780,066
Philippines			798,790			6,958,911			—			7,757,701
Poland			286,240			8,737,390			—			9,023,630
Qatar			1,688,463			4,656,794			—			6,345,257
Romania			518,291			—			—			518,291
Russia			1,880,823			24,653,061			—			26,533,884
Singapore			—			181,202			—			181,202
South Africa			9,156,557			44,021,835			—			53,178,392
South Korea			1,312,447			111,977,338			387,512			113,677,297
Taiwan			1,306,296			94,250,709			—			95,557,005
Thailand			770,719			17,075,158			—			17,845,877
Turkey			—			6,169,271			—			6,169,271
United Arab Emirates			3,844,618			1,159,625			—			5,004,243
Total Common Stock			167,296,047			625,120,878			411,890			792,828,815
Preferred Stock			18,067,793			6,665,461			—			24,733,254
Rights			—			—			—			—
Short-Term Investments			17,042,000			8,988,012			—			26,030,012
Total Investments, at fair value		$	202,405,840		$	640,774,351		$	411,890		$	843,592,081
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts		$	—		$	(1)		$	—		$	(1)
Futures			(1,402,363)			—			—			(1,402,363)
Total Liabilities		$	(1,402,363)		$	(1)		$	—		$	(1,402,364)

(1)

For the period ended June 30, 2018, as a result of the fair value pricing procedures for international equities utilized by the Portfolio (Note 2) certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Portfolio’s policy is to recognize transfers between levels at the beginning of the reporting period. At June 30, 2018, securities valued at $87,251,683 and $7,926,171 were transferred from Level 1 to Level 2 and from Level 2 to Level 1, respectively, within the fair value hierarchy. In addition, securities valued at $459,961 transferred from Level 1 and Level 2 to Level 3 due to significant unobservable inputs.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Emerging Markets Index

SUMMARY PORTFOLIO OF INVESTMENTS

Portfolio

as of June 30, 2018 (Unaudited) (continued)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya Emerging Markets Index Portfolio:

Currency Purchased

Currency
Sold

Counterparty

Settlement
Date

Unrealized
Appreciation
(Depreciation)

USD 4,253

EGP 76,104

The Bank of New York Mellon

07/02/18

(1)

At June 30, 2018, the following futures contracts were outstanding for Voya Emerging Markets Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Mini MSCI Emerging Markets Index		459		09/21/18		$	24,402,735		$	(1,402,363)
						$	24,402,735		$	(1,402,363)

Currency Abbreviations

EGP – Egyptian Pound

USD – United States Dollar

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	1
Equity contracts	Net Assets — Unrealized depreciation*			1,402,363
Total Liabiity Derivatives			$	1,402,364

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	24,364		$	—		$	24,364
Equity contracts			—			(1,724,665)			(1,724,665)
Total		$	24,364		$	(1,724,665)		$	(1,700,301)

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(1)		$	—		$	(1)
Equity contracts			—			(1,570,211)			(1,570,211)
Total		$	(1)		$	(1,570,211)		$	(1,570,212)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Emerging Markets Index

SUMMARY PORTFOLIO OF INVESTMENTS

Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	The Bank of New York Mellon
Liabilities:
Forward foreign currency contracts		$	1
Total Liabilities		$	1
Net OTC derivative instruments by counterparty, at fair value		$	(1)
Total collateral pledged by the Portfolio/(Received from counterparty)		$	—
Net Exposure(1)		$	(1)

(1)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $801,437,116.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	131,458,402
Gross Unrealized Depreciation		(89,484,758)
Net Unrealized Appreciation	$	41,973,644

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Euro STOXX 50® Index Portfolio

as of June 30, 2018 (Unaudited)

	Geographic Diversification as of June 30, 2018 (as a percentage of net assets)

	France			35.0%
	Germany			31.0%
	Netherlands			13.0%
	Spain			9.2%
	Italy			4.8%
	Belgium			2.7%
	Finland			1.2%
	Ireland			1.1%
	Assets in Excess of Other Liabilities*			2.0%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares			Value			Percentage of Net Assets
COMMON STOCK: 96.9%
		Belgium: 2.7%
	109,866	Anheuser-Busch InBev SA/NV		$	11,081,646		2.7
		Finland: 1.2%
	813,992	Nokia OYJ - Finland			4,668,967		1.2
		France: 35.0%
	61,968	Air Liquide SA			7,767,401		1.9
	301,111	AXA S.A.			7,357,288		1.8
	166,542	BNP Paribas			10,301,790		2.6
	80,012	Cie de Saint-Gobain			3,564,134		0.9
	92,002	Danone			6,717,304		1.7
	267,170	Engie SA			4,086,772		1.0
	31,673	Essilor International Cie Generale d’Optique SA			4,465,779		1.1
	35,584	L’Oreal S.A.			8,772,418		2.2
	38,934	LVMH Moet Hennessy Louis Vuitton SE			12,926,841		3.2
	296,251	Orange SA			4,945,071		1.2
	51,839	Safran S.A.			6,277,964		1.6
	163,508	Sanofi			13,123,090		3.3
	77,865	Schneider Electric SE			6,475,787		1.6
	116,779	Societe Generale			4,908,218		1.2
	384,269	Total SA			23,335,057		5.8
	20,080 (1)	Unibail-Rodamco-Westfield			4,421,394		1.1
	80,344	Vinci SA			7,712,323		1.9
	149,315	Vivendi SA			3,652,684		0.9
					140,811,315		35.0

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Germany: 29.9%
	26,292	Adidas AG		$	5,724,243		1.4
	63,635	Allianz SE			13,112,308		3.3
	132,759	BASF SE			12,674,325		3.2
	134,794	Bayer AG			14,803,581		3.7
	46,317	Bayerische Motoren Werke AG			4,186,713		1.0
	129,076	Daimler AG			8,268,245		2.1
	274,987	Deutsche Bank AG			2,941,945		0.7
	141,685	Deutsche Post AG			4,603,403		1.1
	468,755	Deutsche Telekom AG			7,244,341		1.8
	318,152	E.ON AG			3,389,756		0.8
	59,122	Fresenius SE & Co. KGaA			4,733,590		1.2
	21,615	Muenchener Rueckversicherungs- Gesellschaft AG			4,544,406		1.1
	156,209	SAP SE			18,029,319		4.5
	122,862	Siemens AG			16,187,805		4.0
					120,443,980		29.9
		Ireland: 1.1%
	121,906	CRH PLC			4,287,966		1.1
		Italy: 4.8%
	1,122,858	Enel S.p.A.			6,221,968		1.6
	367,181	ENI S.p.A.			6,808,048		1.7
	2,119,565	Intesa Sanpaolo SpA			6,132,484		1.5
					19,162,500		4.8
		Netherlands: 13.0%
	82,584	Airbus SE			9,637,136		2.4
	62,365	ASML Holding NV			12,341,101		3.1
	562,466	ING Groep NV			8,073,941		2.0
	136,002	Koninklijke Philips NV			5,762,136		1.4
	180,216	Koninklijke Ahold Delhaize NV			4,303,130		1.1
	218,729	Unilever NV			12,186,935		3.0
					52,304,379		13.0
		Spain: 9.2%
	963,793	Banco Bilbao Vizcaya Argentaria SA			6,797,224		1.7
	2,332,360	Banco Santander SA			12,465,239		3.1
	850,865	Iberdrola S.A.			6,561,672		1.6
	160,644	Industria de Diseno Textil SA			5,470,596		1.4
	674,085	Telefonica S.A.			5,721,261		1.4
					37,015,992		9.2

		Total Common Stock (Cost $347,414,105)			389,776,745		96.9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Euro STOXX 50® Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
PREFERRED STOCK: 1.1%
		Germany: 1.1%
	26,462	Volkswagen AG		$	4,371,800		1.1
		Total Preferred Stock (Cost $3,721,152)			4,371,800		1.1
RIGHTS: —%
		Italy: —%
	2,033,574 (2)	Other Securities			—		—
		Total Rights (Cost $–)			—		—
		Total Long-Term Investments (Cost $351,135,257)			394,148,545		98.0
SHORT-TERM INVESTMENTS: 1.4%
		Mutual Funds: 1.4%
	5,606,000 (3)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $5,606,000)			5,606,000		1.4
		Total Short-Term Investments (Cost $5,606,000)			5,606,000		1.4
		Total Investments in Securities (Cost $356,741,257)		$	399,754,545		99.4
		Assets in Excess of Other Liabilities			2,251,149		0.6
		Net Assets		$	402,005,694		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

(1)

Non-income producing security.

(2)

The grouping contains non-income producing securities.

(3)

Rate shown is the 7-day yield as of June 30, 2018.

Sector Diversification	Percentage of Net Assets
Financials		19.0%
Industrials		13.5
Consumer Discretionary		11.1
Health Care		10.7
Consumer Staples		10.7
Information Technology		8.8
Energy		7.5
Materials		6.2
Utilities		5.0
Telecommunication Services		4.4
Real Estate		1.1
Rights		0.0
Short-Term Investments		1.4
Assets in Excess of Other Liabilities		0.6
Net Assets		100.0%

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Belgium		$	—		$	11,081,646		$	—		$	11,081,646
Finland			—			4,668,967			—			4,668,967
France			4,421,394			136,389,921			—			140,811,315
Germany			—			120,443,980			—			120,443,980
Ireland			—			4,287,966			—			4,287,966
Italy			—			19,162,500			—			19,162,500
Netherlands			—			52,304,379			—			52,304,379
Spain			—			37,015,992			—			37,015,992
Total Common Stock			4,421,394			385,355,351			—			389,776,745
Preferred Stock			—			4,371,800			—			4,371,800
Rights			—			—			—			—
Short-Term Investments			5,606,000			—			—			5,606,000
Total Investments, at fair value		$	10,027,394		$	389,727,151		$	—		$	399,754,545

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Euro STOXX 50® Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Other Financial Instruments+
Forward Foreign Currency Contracts			—			55,191			—			55,191
Total Assets		$	10,027,394		$	389,782,342		$	—		$	399,809,736
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts		$	—		$	(15,644)		$	—		$	(15,644)
Futures			(136,389)			—			—			(136,389)
Total Liabilities		$	(136,389)		$	(15,644)		$	—		$	(152,033)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya Euro STOXX 50® Index Portfolio:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD 583,088

EUR 500,000

State Street Bank and Trust Co.

09/19/18

(4,330)

USD 699,040

EUR 600,000

State Street Bank and Trust Co.

09/19/18

(5,861)

USD 583,058

EUR 500,000

State Street Bank and Trust Co.

09/19/18

(4,360)

EUR 8,300,000

USD 9,695,944

State Street Bank and Trust Co.

09/19/18

55,191

USD 938,775

EUR 800,000

The Bank of New York Mellon

09/19/18

(1,093)

39,547

At June 30, 2018, the following futures contracts were outstanding for Voya Euro STOXX 50® Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
EURO STOXX 50® Index		170		09/21/18		$	6,732,025		$	(136,389)
						$	6,732,025		$	(136,389)

Currency Abbreviations

EUR – EU Euro

USD – United States Dollar

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Asset Derivatives
Foreign exchange contracts	Unrealized appreciation on forward foreign currency contracts		$	55,191
Total Asset Derivatives			$	55,191
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	15,644
Equity contracts	Net Assets — Unrealized depreciation*			136,389
Total Liability Derivatives			$	152,033

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Euro STOXX 50® Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(1,048,708)		$	—		$	(1,048,708)
Equity contracts			—			219,816			219,816
Total		$	(1,048,708)		$	219,816		$	(828,892)

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(16,565)		$	—		$	(16,565)
Equity contracts			—			(82,423)			(82,423)
Total		$	(16,565)		$	(82,423)		$	(98,988)

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	State Street Bank and Trust Co.			The Bank of New York Mellon			Totals
Assets:
Forward foreign currency contracts		$	55,191		$	—		$	55,191
Total Assets		$	55,191		$	—		$	55,191
Liabilities:
Forward foreign currency contracts		$	14,551		$	1,093		$	15,644
Total Liabilities		$	14,551		$	1,093		$	15,644
Net OTC derivative instruments by counterparty, at fair value		$	40,640		$	(1,093)			39,547
Total collateral pledged by the Portfolio/(Received from counterparty)		$	—		$	—		$	—
Net Exposure(1)		$	40,640		$	(1,093)		$	39,547

(1)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $368,470,421.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	53,971,896
Gross Unrealized Depreciation		(22,775,055)
Net Unrealized Appreciation	$	31,196,841

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya FTSE 100 Index® Portfolio

as of June 30, 2018 (Unaudited)

	Geographic Diversification as of June 30, 2018 (as a percentage of net assets)

	United Kingdom			82.5%
	Netherlands			11.1%
	Switzerland			3.1%
	Ireland			1.0%
	Germany			0.4%
	United Arab Emirates			0.1%
	Mexico			0.1%
	Assets in Excess of Other Liabilities*			1.7%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares			Value			Percentage of Net Assets
COMMON STOCK: 97.9%
		Germany: 0.4%
	40,937	Other Securities		$	895,373		0.4
		Ireland: 1.0%
	38,555	Other Securities			2,515,462		1.0
		Mexico: 0.1%
	17,352	Other Securities			261,489		0.1
		Netherlands: 11.1%
	432,908	Royal Dutch Shell PLC - Class A			14,982,468		6.0
	352,719	Royal Dutch Shell PLC - Class B			12,631,912		5.1
					27,614,380		11.1
		Switzerland: 3.1%
	22,189	Ferguson PLC			1,795,262		0.7
	1,098,774	Glencore PLC			5,216,742		2.1
	18,535	Other Securities			616,930		0.3
					7,628,934		3.1
		United Arab Emirates: 0.1%
	8,097	Other Securities			381,107		0.1
		United Kingdom: 82.1%
	89,602	3i Group PLC			1,060,809		0.4
	92,891 (1)	Anglo American PLC			2,062,265		0.8
	45,971	Ashtead Group PLC			1,368,985		0.6
	32,712	Associated British Foods PLC			1,179,538		0.5
	119,265	AstraZeneca PLC			8,249,216		3.3
	377,268	Aviva PLC			2,503,204		1.0
	300,333	BAE Systems PLC			2,555,023		1.0
	1,604,778	Barclays PLC			3,966,582		1.6
	195,663	BHP Billiton PLC			4,391,150		1.8
	1,838,015	BP PLC			13,984,555		5.6

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			United Kingdom (continued)
	214,774		British American Tobacco PLC		$	10,818,883		4.3
	784,935		BT Group PLC			2,251,777		0.9
	39,027		Burberry Group PLC			1,109,168		0.5
	527,669		Centrica PLC			1,095,641		0.4
	148,859		Compass Group PLC			3,173,020		1.3
	79,267		CRH PLC - London			2,780,466		1.1
	227,265		Diageo PLC			8,164,691		3.3
	86,110		Experian PLC			2,124,213		0.9
	458,582		GlaxoSmithKline PLC			9,245,435		3.7
	1,891,100		HSBC Holdings PLC			17,671,086		7.1
	89,357		Imperial Brands PLC			3,318,547		1.3
	117,172		Informa PLC			1,287,963		0.5
	17,928		InterContinental Hotels Group PLC			1,114,497		0.5
	154,116		International Consolidated Airlines Group SA			1,344,573		0.5
	15,183		Intertek Group PLC			1,141,617		0.5
	556,870		Legal & General Group PLC			1,947,839		0.8
	6,756,800		Lloyds Banking Group Plc			5,606,230		2.3
	29,340		London Stock Exchange Group PLC			1,727,230		0.7
	410,921		Melrose Industries PLC			1,149,783		0.5
	315,635		National Grid PLC			3,488,100		1.4
	12,741		Next PLC			1,014,167		0.4
	243,836		Prudential PLC			5,558,559		2.2
	1	(2)(3)	Quilter PLC			2		0.0
	58,899		Reckitt Benckiser Group PLC			4,839,422		1.9
	97,820		Relx PLC			2,088,941		0.8
	108,377		Rio Tinto PLC			5,973,573		2.4
	156,174		Rolls-Royce Holdings PLC			2,034,177		0.8
	425,131 (2)		Royal Bank of Scotland Group PLC			1,431,216		0.6
	95,558		SSE PLC			1,705,761		0.7
	84,353		Shire PLC			4,752,346		1.9
	97,226		Sky PLC			1,872,456		0.8
	82,337		Smith & Nephew PLC			1,516,672		0.6
	254,460		Standard Chartered PLC			2,311,363		0.9
	255,149		Standard Life Aberdeen PLC			1,092,589		0.4
	909,351		Tesco PLC			3,076,874		1.2
	107,907		Unilever PLC			5,960,826		2.4
	2,512,023		Vodafone Group PLC			6,084,846		2.4
	115,330		WPP PLC			1,812,015		0.7
	3,224,075 (4)		Other Securities			29,596,333		11.9
						204,604,224		82.1
			Total Common Stock (Cost $226,148,212)			243,900,969		97.9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya FTSE 100 Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
PREFERRED STOCK: 0.0%
		United Kingdom: 0.0%
	11,362,982 (4)	Other Securities		$	14,996		0.0
		Total Preferred Stock (Cost $15,815)			14,996		0.0
CLOSED-END FUNDS: 0.4%
		United Kingdom: 0.4%
	132,260	Other Securities			919,587		0.4
		Total Closed-End Funds (Cost $609,269)			919,587		0.4
		Total Long-Term Investments (Cost $226,773,296)			244,835,552		98.3

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 1.6%
		Securities Lending Collateral(5) 0.8%
	29,967	Bank of Nova Scotia, Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $29,972, collateralized by various U.S. Government Agency Obligations, 2.500%-6.430%, Market Value plus accrued interest $30,572, due 02/01/21-06/01/48)		29,967		0.0
	1,000,000	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,000,187, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,020,000, due 11/15/42-08/15/44)		1,000,000		0.4
	1,000,000	National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $1,000,165, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $1,020,000, due 09/06/18-09/09/49)		1,000,000		0.4
				2,029,967		0.8

Shares			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Mutual Funds: 0.8%
	1,997,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $1,997,000)		$	1,997,000		0.8
		Total Short-Term Investments (Cost $4,026,967)			4,026,967		1.6
		Total Investments in Securities (Cost $230,800,263)		$	248,862,519		99.9
		Assets in Excess of Other Liabilities			233,322		0.1
		Net Assets		$	249,095,841		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Security, or a portion of the security, is on loan.

(2)

Non-income producing security.

(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)

The grouping contains non-income producing securities.

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Sector Diversification	Percentage of Net Assets
Financials		19.6%
Energy		16.7
Consumer Staples		15.8
Materials		10.6
Health Care		9.6
Consumer Discretionary		9.1
Industrials		8.0
Telecommunication Services		3.3
Utilities		3.0
Information Technology		1.3
Real Estate		0.9
Closed-End Funds		0.4
Short-Term Investments		1.6
Assets in Excess of Other Liabilities		0.1
Net Assets		100.0%

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya FTSE 100 Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 in valuing the assets and liabilities:(1)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Germany		$	—		$	895,373		$	—		$	895,373
Ireland			—			2,515,462			—			2,515,462
Mexico			—			261,489			—			261,489
Netherlands			—			27,614,380			—			27,614,380
Switzerland			—			7,628,934			—			7,628,934
United Arab Emirates			—			381,107			—			381,107
United Kingdom			2			204,604,222			—			204,604,224
Total Common Stock			2			243,900,967			—			243,900,969
Preferred Stock			—			14,996			—			14,996
Closed-End Funds			—			919,587			—			919,587
Short-Term Investments			1,997,000			2,029,967			—			4,026,967
Total Investments, at fair value		$	1,997,002		$	246,865,517		$	—		$	248,862,519
Other Financial Instruments+
Forward Foreign Currency Contracts			—			224			—			224
Total Assets		$	1,997,002		$	246,865,741		$	—		$	248,862,743
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts		$	—		$	(9,256)		$	—		$	(9,256)
Futures			(26,066)			—			—			(26,066)
Total Liabilities		$	(26,066)		$	(9,256)		$	—		$	(35,322)

(1)

For the period ended June 30, 2018, as a result of the fair value pricing procedures for international equities utilized by the Portfolio (Note 2) certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Portfolio’s policy is to recognize transfers between levels at the beginning of the reporting period. At June 30, 2018, securities valued at $17,536,576 were transferred from Level 1 to Level 2 within the fair value hierarchy.

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya FTSE 100 Index® Portfolio:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD 132,669

GBP 100,000

Barclays Bank PLC

09/19/18

224

GBP 1,900,000

USD 2,525,707

Citibank N.A.

09/19/18

(9,256)

(9,032)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya FTSE 100 Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the following futures contracts were outstanding for Voya FTSE 100 Index® Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
FTSE 100 Index		39		09/21/18		$	3,912,507		$	(26,066)
						$	3,912,507		$	(26,066)

Currency Abbreviations

GBP – British Pound

USD – United States Dollar

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Asset Derivatives
Foreign exchange contracts	Unrealized appreciation on forward foreign currency contracts		$	224
Total Asset Derivatives			$	224
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	9,256
Equity contracts	Net Assets — Unrealized depreciation*			26,066
Total Liability Derivatives			$	35,322

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(132,087)		$	—		$	(132,087)
Equity contracts			—			579,378			579,378
Total		$	(132,087)		$	579,378		$	447,291

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(22,134)		$	—		$	(22,134)
Equity contracts			—			(61,389)			(61,389)
Total		$	(22,134)		$	(61,389)		$	(83,523)

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	Barclays Bank PLC			Citibank N.A.			Totals
Assets:
Forward foreign currency contracts		$	224		$	—		$	224
Total Assets		$	224		$	—		$	224
Liabilities:
Forward foreign currency contracts		$	—		$	9,256		$	9,256
Total Liabilities		$	—		$	9,256		$	9,256
Net OTC derivative instruments by counterparty, at fair value		$	224		$	(9,256)			(9,032)
Total collateral pledged by the Portfolio/(Received from counterparty)		$	—		$	—		$	—
Net Exposure(1)		$	224		$	(9,256)		$	(9,032)

(1)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya FTSE 100 Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $239,290,876.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	34,347,411
Gross Unrealized Depreciation		(24,423,126)
Net Unrealized Appreciation	$	9,924,285

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

PORTFOLIO OF INVESTMENTS

Voya Hang Seng Index Portfolio

as of June 30, 2018 (Unaudited)

	Geographic Diversification as of June 30, 2018 (as a percentage of net assets)
	China			54.3%
	Hong Kong			31.1%
	United Kingdom			9.8%
	Macau			1.1%
	Assets in Excess of Other Liabilities*			3.7%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares			Value			Percentage of Net Assets
COMMON STOCK: 96.3%
		China: 54.3%
	30,500	AAC Technologies Holdings, Inc.		$	428,319		0.8
	3,330,746	Bank of China Ltd. - H Shares			1,651,800		3.2
	367,451	Bank of Communications Co., Ltd. - H Shares			281,232		0.6
	155,129	BOC Hong Kong Holdings Ltd.			729,097		1.4
	4,032,107	China Construction Bank - H Shares			3,689,545		7.2
	311,911	China Life Insurance Co., Ltd. - H Shares			800,205		1.6
	115,000	China Mengniu Dairy Co., Ltd.			387,869		0.8
	55,964	China Merchants Port Holdings Co. Ltd			113,343		0.2
	257,601	China Mobile Ltd.			2,285,680		4.5
	160,991	China Overseas Land & Investment Ltd.			528,405		1.0
	1,070,438	China Petroleum & Chemical Corp. - H Shares			958,168		1.9
	116,444	China Resources Land Ltd.			391,142		0.8
	81,654	China Resources Power Holdings Co.			143,500		0.3
	142,341	China Shenhua Energy Co., Ltd. - H Shares			336,672		0.7
	321,110	China Unicom Hong Kong Ltd.			400,259		0.8
	243,811	CITIC Ltd.			342,979		0.7
	748,714	CNOOC Ltd.			1,282,955		2.5
	319,000	Country Garden Holdings Co. Ltd.			559,206		1.1
	196,000	CSPC Pharmaceutical Group Ltd.			588,549		1.2
	226,000	Geely Automobile Holdings Ltd.			581,474		1.1
	30,500	Hengan International Group Co., Ltd.			292,552		0.6

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		China (continued)
	3,093,340	Industrial & Commercial Bank of China - H Shares		$	2,307,137		4.5
	884,604	PetroChina Co., Ltd. - H Shares			673,904		1.3
	218,432	Ping An Insurance Group Co. of China Ltd. - H Shares			2,000,329		3.9
	29,900	Sunny Optical Technology Group Co. Ltd.			554,566		1.1
	101,075	Tencent Holdings Ltd.			5,075,522		10.0
	261,000	Want Want China Holdings Ltd.			232,089		0.5
					27,616,498		54.3
		Hong Kong: 31.1%
	506,200	AIA Group Ltd.			4,409,716		8.7
	57,984	Bank of East Asia Ltd.			231,104		0.4
	108,536	CK Asset Holdings Ltd.			859,205		1.7
	113,036	CK Hutchison Holdings Ltd.			1,196,602		2.3
	28,000	CK Infrastructure Holdings Ltd.			207,276		0.4
	79,431	CLP Holdings Ltd.			855,582		1.7
	99,000	Galaxy Entertainment Group Ltd.			763,137		1.5
	84,706	Hang Lung Properties Ltd.			173,993		0.3
	32,043	Hang Seng Bank Ltd.			800,125		1.6
	55,117	Henderson Land Development Co., Ltd.			290,647		0.6
	387,494	Hong Kong & China Gas			740,708		1.5
	49,341	Hong Kong Exchanges and Clearing Ltd.			1,476,655		2.9
	58,322	Power Assets Holdings Ltd.			407,740		0.8
	90,000	Link REIT			820,745		1.6
	63,143	MTR Corp.			348,780		0.7
	254,100	New World Development Ltd.			355,463		0.7
	121,265	Sino Land Co.			197,052		0.4
	54,555	Sun Hung Kai Properties Ltd.			821,922		1.6
	21,091	Swire Pacific Ltd.			222,929		0.4
	369,000 (1)	WH Group Ltd.			298,590		0.6
	50,637	Wharf Real Estate Investment Co. Ltd.			359,561		0.7
					15,837,532		31.1
		Macau: 1.1%
	101,600	Sands China Ltd.			541,669		1.1
		United Kingdom: 9.8%
	535,628	HSBC Holdings PLC (HKD)			5,011,341		9.8
		Total Common Stock (Cost $29,793,131)			49,007,040		96.3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

PORTFOLIO OF INVESTMENTS

Voya Hang Seng Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 0.2%
		Mutual Funds: 0.2%
	100,000 (2)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $100,000)		$	100,000		0.2
		Total Short-Term Investments (Cost $100,000)			100,000		0.2
		Total Investments in Securities (Cost $29,893,131)		$	49,107,040		96.5
		Assets in Excess of Other Liabilities			1,788,676		3.5
		Net Assets		$	50,895,716		100.0

(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)

Rate shown is the 7-day yield as of June 30, 2018.

Sector Diversification	Percentage of Net Assets
Financials		45.8%
Information Technology		11.9
Real Estate		10.9
Energy		6.4
Telecommunication Services		5.3
Utilities		4.7
Industrials		3.9
Consumer Discretionary		3.7
Consumer Staples		2.5
Health Care		1.2
Short-Term Investments		0.2
Assets in Excess of Other Liabilities		3.5
Net Assets		100.0%

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 in valuing the assets and liabilities:(1)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Asset Table
Investments, at fair value
Common Stock
China		$	—		$	27,616,498		$	—		$	27,616,498
Hong Kong			407,740			15,429,792			—			15,837,532
Macau			—			541,669			—			541,669
United Kingdom			—			5,011,341			—			5,011,341
Total Common Stock			407,740			48,599,300			—			49,007,040
Short-Term Investments			100,000			—			—			100,000
Total Investments, at fair value		$	507,740		$	48,599,300		$	—		$	49,107,040
Other Financial Instruments+
Forward Foreign Currency Contracts			—			341			—			341
Total Assets		$	507,740		$	48,599,641		$	—		$	49,107,381
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts		$	—		$	(157)		$	—		$	(157)
Futures			(893)			—			—			(893)
Total Liabilities		$	(893)		$	(157)		$	—		$	(1,050)

(1)

For the period ended June 30, 2018, as a result of the fair value pricing procedures for international equities utilized by the Portfolio (Note 2) certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Portfolio’s policy is to recognize transfers between levels at the beginning of the reporting period. At June 30, 2018, securities valued at $2,317,027 and $706,529 were transferred from Level 1 to Level 2 and from Level 2 to Level 1, respectively, within the fair value hierarchy.

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

PORTFOLIO OF INVESTMENTS

Voya Hang Seng Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya Hang Seng Index Portfolio:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD 318,919

HKD 2,500,000

State Street Bank and Trust Co.

09/19/18

(157)

HKD 6,800,000

USD 867,545

State Street Bank and Trust Co.

09/19/18

341

184

At June 30, 2018, the following futures contracts were outstanding for Voya Hang Seng Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Hang Seng Index		10		07/30/18		$	1,830,708		$	(893)
						$	1,830,708		$	(893)

Currency Abbreviations

HKD – Hong Kong Sar Dollar

USD – United States Dollar

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Asset Derivatives
Foreign exchange contracts	Unrealized appreciation on forward foreign currency contracts		$	341
Total Asset Derivatives			$	341
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	157
Equity contracts	Net Assets — Unrealized depreciation*			893
Total Liability Derivatives			$	1,050

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(6,489)		$	—		$	(6,489)
Equity contracts			—			(4,141)			(4,141)
Total		$	(6,489)		$	(4,141)		$	(10,630)

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	768		$	—		$	768
Equity contracts			—			(13,090)			(13,090)
Total		$	768		$	(13,090)		$	(12,322)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

PORTFOLIO OF INVESTMENTS

Voya Hang Seng Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	State Street Bank and Trust Co.
Assets:
Forward foreign currency contracts		$	341
Total Assets		$	341
Liabilities:
Forward foreign currency contracts		$	157
Total Liabilities		$	157
Net OTC derivative instruments by counterparty, at fair value		$	184
Total collateral pledged by the Portfolio/(Received from counterparty)		$	—
Net Exposure(1)		$	184

(1)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $31,129,919.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	19,240,937
Gross Unrealized Depreciation		(1,150,880)
Net Unrealized Appreciation	$	18,090,057

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya International Index Portfolio

as of June 30, 2018 (Unaudited)

	Geographic Diversification as of June 30, 2018 (as a percentage of net assets)

	Japan			23.0%
	United Kingdom			15.0%
	France			9.8%
	Germany			9.1%
	Switzerland			8.1%
	Australia			6.6%
	Netherlands			6.0%
	Hong Kong			3.2%
	Spain			2.9%
	Sweden			2.5%
	Countries between 0.0% – 2.0%^			9.6%
	Assets in Excess of Other Liabilities*			4.2%
	Net Assets			100.0%
	* Includes short-term investments.
	^ Includes 16 countries, which each represents 0.0% – 2.0% of net assets.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 95.3%
			Australia: 6.6%
	345,184		Australia & New Zealand Banking Group Ltd.		$	7,224,557		0.4
	379,450		BHP Billiton Ltd.			9,494,606		0.5
	207,316		Commonwealth Bank of Australia			11,181,085		0.6
	53,452		CSL Ltd.			7,608,526		0.4
	321,298		National Australia Bank Ltd.			6,523,832		0.4
	48,390		Rio Tinto Ltd.			2,989,791		0.2
	402,444		Westpac Banking Corp.			8,739,865		0.5
	10,222,445	(1)(2)(3)	Other Securities			63,220,258		3.6
						116,982,520		6.6
			Austria: 0.2%
	93,363		Other Securities			4,112,416		0.2
			Belgium: 1.0%
	90,065		Anheuser-Busch InBev SA/NV			9,084,416		0.5
	141,971 (2)		Other Securities			9,205,784		0.5
						18,290,200		1.0
			China: 0.1%
	523,417		Other Securities			2,418,647		0.1
			Denmark: 1.6%
	208,623		Novo Nordisk A/S			9,636,414		0.5
	22,331 (4)		Orsted A/S			1,349,265		0.1

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Denmark (continued)
	277,136	(1)(2)	Other Securities		$	17,023,755		1.0
						28,009,434		1.6
			Finland: 1.0%
	1,069,629		Other Securities			17,487,772		1.0
			France: 9.8%
	50,574		Air Liquide SA			6,339,216		0.4
	7,381 (4)		Amundi SA			510,210		0.0
	132,941		BNP Paribas			8,223,333		0.5
	29,749		L’Oreal S.A.			7,333,933		0.4
	32,964		LVMH Moet Hennessy Louis Vuitton SE			10,944,686		0.6
	133,456		Sanofi			10,711,128		0.6
	285,151		Total SA			17,316,033		1.0
	2,622,945	(1)(2)	Other Securities			111,365,357		6.3
						172,743,896		9.8
			Germany: 8.6%
	51,976		Allianz SE			10,709,913		0.6
	108,650		BASF SE			10,372,671		0.6
	106,288		Bayer AG			11,672,945		0.7
	22,633 (4)		Covestro AG			2,011,705		0.1
	109,600		Daimler AG			7,020,667		0.4
	10,672	(4)(5)	Delivery Hero AG			565,670		0.0
	16,761	(4)(6)	Innogy SE			716,092		0.0
	116,310		SAP SE			13,424,259		0.8
	90,537		Siemens AG			11,928,793		0.7
	17,922	(4)(5)	Siemens Healthineers AG			738,542		0.0
	13,319	(4)(5)	Zalando SE			742,296		0.1
	2,181,795	(1)(2)	Other Securities			81,563,572		4.6
						151,467,125		8.6
			Hong Kong: 3.2%
	1,428,099		AIA Group Ltd.			12,440,758		0.7
	324,000 (4)		HK Electric Investments & HK Electric Investments Ltd.			308,902		0.0
	1,049,000 (4)		WH Group Ltd.			848,837		0.1
	8,242,442		Other Securities			42,323,948		2.4
						55,922,445		3.2
			Ireland: 0.5%
	367,714 (2)		Other Securities			9,043,576		0.5
			Israel: 0.5%
	779,514 (2)		Other Securities			8,783,767		0.5
			Italy: 2.0%
	46,162	(4)(5)	Pirelli & C SpA			384,402		0.0
	63,471 (4)		Poste Italiane SpA			529,770		0.0
	6,205,332	(1)(2)	Other Securities			34,381,339		2.0
						35,295,511		2.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya International Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Japan: 23.0%
	11,444		Keyence Corp.		$	6,454,583		0.4
	159,793		Mitsubishi Corp.			4,430,912		0.2
	216,161		Mitsubishi Electric Corp.			2,868,006		0.2
	140,627		Mitsubishi Estate Co., Ltd.			2,454,913		0.1
	35,519		Mitsubishi Heavy Industries Ltd.			1,291,164		0.1
	81,115		Mitsubishi Motors Corp.			646,592		0.0
	1,398,806		Mitsubishi UFJ Financial Group, Inc.			7,924,074		0.4
	54,376		Mitsubishi UFJ Lease & Finance Co., Ltd.			333,345		0.0
	97,646		SoftBank Group Corp.			6,972,720		0.4
	149,770		Sony Corp.			7,670,374		0.4
	159,251		Sumitomo Mitsui Financial Group, Inc.			6,211,744		0.4
	39,185		Sumitomo Mitsui Trust Holdings, Inc.			1,545,990		0.1
	270,358		Toyota Motor Corp.			17,483,779		1.0
	17,990,256	(1)(2)	Other Securities			340,016,110		19.3
						406,304,306		23.0
			Luxembourg: 0.1%
	104,082		Other Securities			2,124,515		0.1
			Macau: 0.2%
	822,914		Other Securities			2,674,729		0.2
			Mexico: 0.0%
	26,064		Other Securities			392,777		0.0
			Netherlands: 6.0%
	50,036 (4)		ABN AMRO Group NV			1,294,022		0.1
	68,704		Airbus SE			8,017,410		0.4
	48,443		ASML Holding NV			9,586,145		0.5
	458,294		ING Groep NV			6,578,600		0.4
	21,223		Koninklijke DSM NV			2,123,131		0.1
	399,448		Koninklijke KPN NV			1,086,172		0.0
	110,804		Koninklijke Philips NV			4,694,547		0.3
	543,728		Royal Dutch Shell PLC - Class A			18,817,825		1.1
	443,219		Royal Dutch Shell PLC - Class B			15,872,985		0.9
	184,801		Unilever NV			10,296,567		0.6
	812,809 (2)		Other Securities			28,088,439		1.6
						106,455,843		6.0
			New Zealand: 0.2%
	787,358 (2)		Other Securities			3,615,720		0.2
			Norway: 0.7%
	716,082		Other Securities			12,505,393		0.7
			Portugal: 0.2%
	390,470		Other Securities			2,766,218		0.2

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Singapore: 1.2%
	6,530,784		Other Securities		$	21,551,699		1.2
			Spain: 2.9%
	7,964 (4)		Aena SME SA			1,441,860		0.1
	1,908,258		Banco Santander SA			10,198,636		0.6
	27,467 (6)		Siemens Gamesa Renewable Energy SA			367,156		0.0
	4,094,343 (1)		Other Securities			38,989,656		2.2
						50,997,308		2.9
			Sweden: 2.5%
	2,911,193	(1)(2)	Other Securities			43,387,985		2.5
			Switzerland: 8.1%
	1,366,337		Glencore PLC			6,487,073		0.4
	368,385		Nestle SA			28,550,150		1.6
	263,250		Novartis AG			19,941,436		1.1
	83,145		Roche Holding AG			18,446,398		1.0
	455,011		UBS Group AG			6,975,484		0.4
	1,003,592 (1)		Other Securities			62,719,771		3.6
						143,120,312		8.1
			United Arab Emirates: 0.1%
	55,083		Other Securities			869,787		0.1
			United Kingdom: 15.0%
	149,751		AstraZeneca PLC			10,357,845		0.6
	114,264 (4)		Auto Trader Group PLC			640,380		0.0
	248,889		BHP Billiton PLC			5,585,670		0.3
	2,355,800		BP PLC			17,924,127		1.0
	271,383		British American Tobacco PLC			13,670,467		0.8
	157,569 (4)		ConvaTec Group PLC			439,894		0.0
	290,639		Diageo PLC			10,441,457		0.6
	586,532		GlaxoSmithKline PLC			11,825,025		0.7
	2,368,299		HSBC Holdings PLC			22,130,197		1.3
	8,526,384		Lloyds Banking Group Plc			7,074,484		0.4
	82,059 (4)		Merlin Entertainments PLC			418,393		0.0
	305,595		Prudential PLC			6,966,436		0.4
	1	(4)(5)	Quilter PLC			2		0.0
	79,023		Reckitt Benckiser Group PLC			6,492,905		0.4
	141,866		Rio Tinto PLC			7,819,435		0.4
	145,571		Unilever PLC			8,041,400		0.5
	3,152,825		Vodafone Group PLC			7,637,054		0.4
	15,059,475	(1)(2)	Other Securities			126,286,200		7.2
						263,751,371		15.0
			Total Common Stock (Cost $1,452,936,910)			1,681,075,272		95.3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya International Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
PREFERRED STOCK: 0.5%
		Germany: 0.5%
	100,825	Other Securities		$	9,244,021		0.5
		United Kingdom: 0.0%
	12,985,971 (2)	Other Securities			17,138		0.0
		Total Preferred Stock (Cost $9,246,725)			9,261,159		0.5
RIGHTS: 0.0%
		Italy: —%
	1,663,188 (2)	Other Securities			—		—
		Spain: 0.0%
	180,608 (2)	Other Securities			115,829		0.0
		Total Rights (Cost $116,947)			115,829		0.0
		Total Long-Term Investments (Cost $1,462,300,582)			1,690,452,260		95.8

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 4.6%
		Securities Lending Collateral(7): 1.2%
	4,859,173	Dominion Securities Inc., Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $4,860,016, collateralized by various U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $4,956,356, due 11/01/36-06/01/48)		4,859,173		0.3
	4,859,173	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $4,860,084, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $4,956,357, due 11/15/42-08/15/44)		4,859,173		0.3

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(7) (continued)
	4,859,173	National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $4,859,976, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $4,956,357, due 09/06/18-09/09/49)		$	4,859,173		0.3
	1,021,939	Natwest Markets PLC, Repurchase Agreement dated 06/29/18, 2.09%, due 07/02/18 (Repurchase Amount $1,022,115, collateralized by various U.S. Government Securities, 2.500%-6.625%, Market Value plus accrued interest $1,042,388, due 05/15/20-05/15/46)			1,021,939		0.0
	4,859,173	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $4,860,092, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $4,956,393, due 07/15/19-02/15/48)			4,859,173		0.3
					20,458,631		1.2

Value

Percentage
of Net
Assets

Mutual Funds: 3.4%

60,500,000 (8)

Morgan Stanley Institutional
Liquidity Funds -
Government Portfolio
(Institutional Share Class),
1.810%
(Cost $60,500,000)

60,500,000

3.4

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya International Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares		Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
	Total Short-Term Investments (Cost $80,958,631)		$	80,958,631		4.6
	Total Investments in Securities (Cost $1,543,259,213)		$	1,771,410,891		100.4
	Liabilities in Excess of Other Assets			(7,752,947)		(0.4)
	Net Assets		$	1,763,657,944		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

The grouping contains securities on loan.

(2)

The grouping contains non-income producing securities.

(3)

The grouping contains Level 3 securities.

(4)

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.

(5)

Non-income producing security.

(6)

Security, or a portion of the security, is on loan.

(7)

Represents securities purchased with cash collateral received for securities on loan.

(8)

Rate shown is the 7-day yield as of June 30, 2018.

Sector Diversification	Percentage of Net Assets
Financials		18.7%
Industrials		13.3
Consumer Discretionary		11.9
Consumer Staples		11.1
Health Care		10.2
Materials		7.7
Information Technology		6.8
Energy		6.0
Real Estate		3.6
Utilities		3.3
Telecommunication Services		3.2
Rights		0.0
Short-Term Investments		4.6
Liabilities in Excess of Other Assets		(0.4)
Net Assets		100.0%

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 in valuing the assets and liabilities:(1)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Australia		$	—		$	116,982,520		$	—		$	116,982,520
Austria			—			4,112,416			—			4,112,416
Belgium			429,969			17,860,231			—			18,290,200
China			—			2,418,647			—			2,418,647
Denmark			—			28,009,434			—			28,009,434
Finland			—			17,487,772			—			17,487,772
France			3,743,271			169,000,625			—			172,743,896
Germany			—			151,467,125			—			151,467,125
Hong Kong			2,639,809			53,282,636			—			55,922,445
Ireland			3,393,870			5,649,706			—			9,043,576
Israel			4,279,944			4,503,823			—			8,783,767
Italy			—			35,295,511			—			35,295,511
Japan			642,338			405,661,968			—			406,304,306
Luxembourg			—			2,124,515			—			2,124,515
Macau			—			2,674,729			—			2,674,729
Mexico			—			392,777			—			392,777
Netherlands			5,285,358			101,170,485			—			106,455,843
New Zealand			—			3,615,720			—			3,615,720
Norway			—			12,505,393			—			12,505,393

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya International Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Portugal			—			2,766,218			—			2,766,218
Singapore			648,200			20,903,499			—			21,551,699
Spain			—			50,997,308			—			50,997,308
Sweden			1,283,685			42,104,300			—			43,387,985
Switzerland			—			143,120,312			—			143,120,312
United Arab Emirates			—			869,787			—			869,787
United Kingdom			72,788			263,678,583			—			263,751,371
Total Common Stock			22,419,232			1,658,656,040			—			1,681,075,272
Preferred Stock			—			9,261,159			—			9,261,159
Rights			115,829			—			—			115,829
Short-Term Investments			60,500,000			20,458,631			—			80,958,631
Total Investments, at fair value		$	83,035,061		$	1,688,375,830		$	—		$	1,771,410,891
Liabilities Table
Other Financial Instruments+
Futures		$	(2,431,722)		$	—		$	—		$	(2,431,722)
Total Liabilities		$	(2,431,722)		$	—		$	—		$	(2,431,722)

(1)

For the period ended June 30, 2018, as a result of the fair value pricing procedures for international equities utilized by the Portfolio (Note 2) certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Portfolio’s policy is to recognize transfers between levels at the beginning of the reporting period. At June 30, 2018, securities valued at $58,632,809 and $4,790,568 were transferred from Level 1 to Level 2 and from Level 2 to Level 1, respectively, within the fair value hierarchy.

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

At June 30, 2018, the following futures contracts were outstanding for Voya International Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Mini MSCI EAFE Index		693		09/21/18		$	67,754,610		$	(2,431,722)
						$	67,754,610		$	(2,431,722)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	2,431,722
Total Liability Derivatives			$	2,431,722

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya International Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	597,152
Total		$	597,152

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(2,842,109)
Total		$	(2,842,109)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $1,564,888,748.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	321,154,204
Gross Unrealized Depreciation		(116,771,146)
Net Unrealized Appreciation	$	204,383,058

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Japan TOPIX Index® Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Industrials			21.7%
	Consumer Discretionary			19.0%
	Information Technology			11.8%
	Financials			11.0%
	Consumer Staples			9.2%
	Health Care			7.0%
	Materials			6.6%
	Telecommunication Services			4.6%
	Real Estate			3.0%
	Utilities			1.7%
	Energy			1.1%
	Assets in Excess of Other Liabilities*			3.3%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 96.7%
			Consumer Discretionary: 19.0%
	36,900		Bridgestone Corp.		$	1,441,419		0.5
	24,800		Denso Corp.			1,210,097		0.5
	100,400		Honda Motor Co., Ltd.			2,943,827		1.1
	41,400		Mitsubishi Motors Corp.			330,012		0.1
	130,100		Nissan Motor Co., Ltd.			1,265,898		0.5
	12,700		Oriental Land Co., Ltd.			1,331,553		0.5
	128,050		Panasonic Corp.			1,726,681		0.7
	74,812		Sony Corp.			3,831,448		1.5
	22,200		Suzuki Motor Corp.			1,223,400		0.5
	135,882		Toyota Motor Corp.			8,787,352		3.4
	2,067,406	(1)(2)(3)	Other Securities			24,997,338		9.7
						49,089,025		19.0
			Consumer Staples: 9.2%
	23,500		Asahi Group Holdings, Ltd.			1,205,261		0.5
	69,400		Japan Tobacco, Inc.			1,939,481		0.7
	27,500		Kao Corp.			2,096,094		0.8
	54,000		Kirin Holdings Co., Ltd.			1,447,464		0.6
	46,043		Seven & I Holdings Co., Ltd.			2,008,197		0.8
	20,900		Shiseido Co., Ltd.			1,658,540		0.6
	436,866	(1)(2)	Other Securities			13,506,402		5.2
						23,861,439		9.2
			Energy: 1.1%
	178,660		JXTG Holdings, Inc.			1,239,503		0.5
	121,300	(1)(2)	Other Securities			1,524,843		0.6
						2,764,346		1.1

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: 11.0%
	771,500		Mitsubishi UFJ Financial Group, Inc.		$	4,370,458		1.7
	27,800		Mitsubishi UFJ Lease & Finance Co., Ltd.			170,424		0.1
	1,484,700		Mizuho Financial Group, Inc.			2,500,956		1.0
	188,700		Nomura Holdings, Inc.			913,130		0.4
	73,500		ORIX Corp.			1,158,515		0.4
	83,252		Sumitomo Mitsui Financial Group, Inc.			3,247,327		1.3
	21,544		Sumitomo Mitsui Trust Holdings, Inc.			849,989		0.3
	41,500		Tokio Marine Holdings, Inc.			1,941,505		0.7
	1,343,995	(1)(2)	Other Securities			13,105,982		5.1
						28,258,286		11.0
			Health Care: 7.0%
	110,000		Astellas Pharma, Inc.			1,674,044		0.6
	32,100		Daiichi Sankyo Co., Ltd.			1,226,332		0.5
	22,600		Hoya Corp.			1,282,075		0.5
	23,200		Otsuka Holdings Co. Ltd.			1,122,247		0.4
	41,200		Takeda Pharmaceutical Co., Ltd.			1,733,206		0.7
	326,540 (2)		Other Securities			11,091,317		4.3
						18,129,221		7.0
			Industrials: 21.7%
	10,000		Central Japan Railway Co.			2,070,293		0.8
	15,300		Daikin Industries Ltd.			1,828,550		0.7
	20,000		East Japan Railway Co.			1,915,308		0.7
	10,600		Fanuc Ltd.			2,101,045		0.8
	5,300		Hitachi Construction Machinery Co., Ltd.			171,826		0.1
	80,600		Itochu Corp.			1,457,718		0.6
	54,100		Komatsu Ltd.			1,540,151		0.6
	77,100		Mitsubishi Corp.			2,137,912		0.8
	111,700		Mitsubishi Electric Corp.			1,482,027		0.6
	18,600		Mitsubishi Heavy Industries Ltd.			676,135		0.3
	3,500		Mitsubishi Logistics Corp.			75,474		0.0
	93,000		Mitsui & Co., Ltd.			1,548,663		0.6
	13,514		Nidec Corp.			2,021,555		0.8
	2,700		Nomura Co., Ltd.			59,542		0.0
	82,700		Recruit Holdings Co. Ltd.			2,284,063		0.9
	3,500		SMC Corp.			1,281,318		0.5
	1,937,043	(1)(2)	Other Securities			33,257,538		12.9
						55,909,118		21.7
			Information Technology: 11.8%
	59,866 (4)		Canon, Inc.			1,963,099		0.7

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Japan TOPIX Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology (continued)
	3,900		Hitachi High-Technologies Corp.		$	158,653		0.1
	268,146		Hitachi Ltd.			1,889,084		0.7
	5,500		Keyence Corp.			3,102,080		1.2
	11,755		Murata Manufacturing Co., Ltd.			1,973,387		0.8
	6,900		Nintendo Co., Ltd.			2,252,361		0.9
	7,032		Nomura Research Institute Ltd.			340,217		0.1
	6,700		Otsuka Corp.			262,287		0.1
	7,500		Tokyo Electron Ltd.			1,287,400		0.5
	982,889	(1)(2)	Other Securities			17,200,658		6.7
						30,429,226		11.8
			Materials: 6.6%
	5,800		Hitachi Chemical Co., Ltd.			116,763		0.0
	11,820		Hitachi Metals Ltd.			122,559		0.1
	19,500		Shin-Etsu Chemical Co., Ltd.			1,732,935		0.7
	2,600		Shin-Etsu Polymer Co., Ltd.			24,212		0.0
	1,048,553	(1)(2)	Other Securities			15,001,881		5.8
						16,998,350		6.6
			Real Estate: 3.0%
	37,160		Daiwa House Industry Co., Ltd.			1,264,251		0.5
	82,600		Mitsubishi Estate Co., Ltd.			1,441,941		0.6
	55,300		Mitsui Fudosan Co., Ltd.			1,332,082		0.5
	7,400		Nomura Real Estate Holdings, Inc.			163,842		0.1
	192,086		Other Securities			3,420,137		1.3
						7,622,253		3.0
			Telecommunication Services: 4.6%
	96,700		KDDI Corp.			2,644,253		1.0
	78,600		Nippon Telegraph & Telephone Corp.			3,570,642		1.4
	78,300		NTT DoCoMo, Inc.			1,995,269		0.8
	49,750		SoftBank Group Corp.			3,552,556		1.4
	17,400	(1)(2)	Other Securities			27,280		0.0
						11,790,000		4.6
			Utilities: 1.7%
	343,721	(1)(2)	Other Securities			4,512,595		1.7
			Total Common Stock (Cost $178,073,752)			249,363,859		96.7

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.3%
		Securities Lending Collateral(5): 1.8%
	1,079,878	Bank of Nova Scotia, Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $1,080,066, collateralized by various U.S. Government Agency Obligations, 2.500%-6.430%, Market Value plus accrued interest $1,101,670, due 02/01/21-06/01/48)		$	1,079,878		0.5
	1,079,878	Dominion Securities Inc., Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $1,080,065, collateralized by various U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $1,101,476, due 11/01/36-06/01/48)			1,079,878		0.4
	1,079,878	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,080,080, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,101,476, due 11/15/42-08/15/44)			1,079,878		0.4
	1,079,878	National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $1,080,056, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $1,101,476, due 09/06/18-09/09/49)			1,079,878		0.4

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Japan TOPIX Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(5) (continued)
	227,091	Natwest Markets PLC, Repurchase Agreement dated 06/29/18, 2.09%, due 07/02/18 (Repurchase Amount $227,130, collateralized by various U.S. Government Securities, 2.500%-6.625%, Market Value plus accrued interest $231,635, due 05/15/20-05/15/46)		$	227,091		0.1
					4,546,603		1.8

Shares			Value		Percentage of Net Assets
		Mutual Funds: 0.5%
	1,398,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $1,398,000)		1,398,000		0.5
		Total Short-Term Investments (Cost $5,944,603)		5,944,603		2.3

Shares		Value			Percentage of Net Assets
	Total Investments in Securities (Cost $184,018,355)		$	255,308,462		99.0
	Assets in Excess of Other Liabilities			2,501,760		1.0
	Net Assets		$	257,810,222		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

The grouping contains securities on loan.

(2)

The grouping contains non-income producing securities.

(3)

The grouping contains Level 3 securities.

(4)

Security, or a portion of the security, is on loan.

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 in valuing the assets and liabilities:(1)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary		$	26,751		$	49,062,274		$	—		$	49,089,025
Consumer Staples			—			23,861,439			—			23,861,439
Energy			—			2,764,346			—			2,764,346
Financials			57,486			28,200,800			—			28,258,286
Health Care			—			18,129,221			—			18,129,221
Industrials			15,987			55,893,131			—			55,909,118
Information Technology			—			30,429,226			—			30,429,226
Materials			—			16,998,350			—			16,998,350
Real Estate			—			7,622,253			—			7,622,253
Telecommunication Services			—			11,790,000			—			11,790,000
Utilities			5,690			4,506,905			—			4,512,595
Total Common Stock			105,914			249,257,945			—			249,363,859
Short-Term Investments			1,398,000			4,546,603			—			5,944,603
Total Investments, at fair value		$	1,503,914		$	253,804,548		$	—		$	255,308,462

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Japan TOPIX Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Liabilities Table
Other Financial Instruments+
Forward Foreign Currency Contracts		$	—		$	(5,858)		$	—		$	(5,858)
Futures			(36,355)			—			—			(36,355)
Total Liabilities		$	(36,355)		$	(5,858)		$	—		$	(42,213)

(1)

For the period ended June 30, 2018, as a result of the fair value pricing procedures for international equities utilized by the Portfolio (Note 2) certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Portfolio’s policy is to recognize transfers between levels at the beginning of the reporting period. At June 30, 2018, securities valued at $729,140 and $21,041 were transferred from Level 1 to Level 2 and from Level 2 to Level 1, respectively, within the fair value hierarchy.

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya Japan TOPIX Index® Portfolio:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

JPY 216,000,000

USD 1,967,699

State Street Bank and Trust Co.

09/19/18

(5,858)

At June 30, 2018, the following futures contracts were outstanding for Voya Japan TOPIX Index® Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Tokyo Price Index (TOPIX)		50		09/13/18		$	7,815,111		$	(36,355)
						$	7,815,111		$	(36,355)

Currency Abbreviations

JPY – Japanese Yen

USD – United States Dollar

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	5,858
Equity contracts	Net Assets — Unrealized depreciation*			36,355
Total Liability Derivatives			$	42,213

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Japan TOPIX Index® Portfolio

as of June 30, 2018 (Unaudited) (continued)

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(3,767)		$	—		$	(3,767)
Equity contracts			—			(61,770)			(61,770)
Total		$	(3,767)		$	(61,770)		$	(65,537)

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts			Futures			Total
Foreign exchange contracts		$	(9,412)		$	—		$	(9,412)
Equity contracts			—			(14,853)			(14,853)
Total		$	(9,412)		$	(14,853)		$	(24,265)

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	State Street Bank and Trust Co.
Liabilities:
Forward foreign currency contracts		$	5,858
Total Liabilities		$	5,858
Net OTC derivative instruments by counterparty, at fair value		$	(5,858)
Total collateral pledged by the Portfolio/(Received from counterparty)		$	—
Net Exposure(1)		$	(5,858)

(1)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $189,458,051.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	74,436,236
Gross Unrealized Depreciation		(8,151,798)
Net Unrealized Appreciation	$	66,284,438

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Information Technology			43.3%
	Consumer Discretionary			17.2%
	Health Care			12.9%
	Industrials			10.5%
	Consumer Staples			6.3%
	Financials			3.6%
	Real Estate			2.1%
	Materials			1.1%
	Energy			0.8%
	Telecommunication Services			0.1%
	Assets in Excess of Other Liabilities*			2.1%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 97.9%
			Consumer Discretionary: 17.2%
	28,028 (1)		Amazon.com, Inc.		$	47,641,994		6.5
	3,501 (1)		Booking Holdings, Inc.			7,096,842		1.0
	83,888		Home Depot, Inc.			16,366,549		2.2
	60,115		Lowe’s Cos, Inc.			5,745,190		0.8
	30,325 (1)		Netflix, Inc.			11,870,115		1.6
	91,311		Nike, Inc.			7,275,660		1.0
	97,768		Starbucks Corp.			4,775,967		0.7
	45,628		TJX Cos., Inc.			4,342,873		0.6
	77,696		Walt Disney Co.			8,143,318		1.1
	74,177	(2)(3)	Other Securities			12,256,294		1.7
						125,514,802		17.2
			Consumer Staples: 6.3%
	137,805		Altria Group, Inc.			7,825,946		1.1
	216,052		Coca-Cola Co.			9,476,041		1.3
	31,797		Costco Wholesale Corp.			6,644,937		0.9
	91,454		PepsiCo, Inc.			9,956,597		1.4
	127,250 (3)		Other Securities			11,987,141		1.6
						45,890,662		6.3
			Energy: 0.8%
	87,643		Other Securities			5,659,854		0.8
			Financials: 3.6%
	87,407		Charles Schwab Corp.			4,466,498		0.7
	18,281		S&P Global, Inc.			3,727,313		0.5
	191,907 (3)		Other Securities			17,543,767		2.4
						25,737,578		3.6
			Health Care: 12.9%
	115,580		AbbVie, Inc.			10,708,487		1.5

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Health Care (continued)
	45,335	Amgen, Inc.		$	8,368,388		1.1
	14,539 (1)	Biogen, Inc.			4,219,799		0.6
	52,620 (1)	Celgene Corp.			4,179,080		0.6
	70,179	Gilead Sciences, Inc.			4,971,480		0.7
	8,175 (1)	Intuitive Surgical, Inc.			3,911,574		0.5
	35,172	Johnson & Johnson			4,267,771		0.6
	24,854	Stryker Corp.			4,196,846		0.6
	69,572	UnitedHealth Group, Inc.			17,068,795		2.3
	331,811 (3)	Other Securities			31,840,719		4.4
					93,732,939		12.9
		Industrials: 10.5%
	35,054	3M Co.			6,895,823		0.9
	39,980	Boeing Co.			13,413,690		1.8
	38,826	Caterpillar, Inc.			5,267,523		0.7
	18,006	FedEx Corp.			4,088,442		0.6
	33,685	Honeywell International, Inc.			4,852,324		0.7
	16,483	Lockheed Martin Corp.			4,869,573		0.7
	20,898	Raytheon Co.			4,037,076		0.6
	51,538	Union Pacific Corp.			7,301,904		1.0
	50,257	United Parcel Service, Inc. - Class B			5,338,801		0.7
	195,091	Other Securities			20,098,117		2.8
					76,163,273		10.5
		Information Technology: 43.3%
	46,797	Accenture PLC			7,655,521		1.0
	54,790	Activision Blizzard, Inc.			4,181,573		0.6
	35,778 (1)	Adobe Systems, Inc.			8,723,034		1.2
	20,787 (1)	Alphabet, Inc. - Class A			23,472,473		3.2
	21,116 (1)	Alphabet, Inc. - Class C			23,558,065		3.2
	354,606	Apple, Inc.			65,641,117		9.0
	32,054	Automatic Data Processing, Inc.			4,299,724		0.6
	18,795	Broadcom, Inc.			4,560,419		0.6
	173,079 (1)	Facebook, Inc. - Class A			33,632,711		4.6
	48,078	International Business Machines Corp.			6,716,497		0.9
	66,866	Mastercard, Inc. - Class A			13,140,506		1.8
	523,800	Microsoft Corp.			51,651,918		7.1
	42,360	Nvidia Corp.			10,035,084		1.4
	86,460 (1)	PayPal Holdings, Inc.			7,199,524		1.0
	51,346 (1)	Salesforce.com, Inc.			7,003,594		1.0
	71,296	Texas Instruments, Inc.			7,860,384		1.1
	130,119	Visa, Inc. - Class A			17,234,262		2.4
	261,656 (3)	Other Securities			19,033,401		2.6
					315,599,807		43.3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Materials: 1.1%
	51,449	Other Securities		$	8,228,434		1.1
		Real Estate: 2.1%
	31,914	American Tower Corp.			4,601,041		0.6
	59,848	Other Securities			10,877,269		1.5
					15,478,310		2.1
		Telecommunication Services: 0.1%
	14,584 (3)	Other Securities			871,394		0.1
		Total Common Stock (Cost $286,409,746)			712,877,053		97.9

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.5%
		Securities Lending Collateral(4): 0.5%
	2,000,000	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $2,000,342, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $2,040,000, due 07/25/18-06/15/53)		2,000,000		0.3
	486,951	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $487,031, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $496,690, due 07/05/18-09/09/49)		486,951		0.1
	1,000,000	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,000,187, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,020,000, due 11/15/42-08/15/44)		1,000,000		0.1
				3,486,951		0.5

Shares			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Mutual Funds: 2.0%
	14,973,000 (5)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $14,973,000)		$	14,973,000		2.0
		Total Short-Term Investments (Cost $18,459,951)			18,459,951		2.5
		Total Investments in Securities (Cost $304,869,697)		$	731,337,004		100.4
		Liabilities in Excess of
		Other Assets			(2,930,528)		(0.4)
		Net Assets		$	728,406,476		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Non-income producing security.

(2)

The grouping contains securities on loan.

(3)

The grouping contains non-income producing securities.

(4)

Represents securities purchased with cash collateral received for securities on loan.

(5)

Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	712,877,053		$	—		$	—		$	712,877,053
Short-Term Investments			14,973,000			3,486,951			—			18,459,951
Total Investments, at fair value		$	727,850,053		$	3,486,951		$	—		$	731,337,004
Liabilities Table
Other Financial Instruments+
Futures		$	(300,111)		$	—		$	—		$	(300,111)
Total Liabilities		$	(300,111)		$	—		$	—		$	(300,111)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

At June 30, 2018, the following futures contracts were outstanding for Voya Russell™ Large Cap Growth Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
S&P 500 E-Mini		119		09/21/18		$	16,193,520		$	(300,111)
						$	16,193,520		$	(300,111)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	300,111
Total Liability Derivatives			$	300,111

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	18,347
Total		$	18,347

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(296,856)
Total		$	(296,856)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $304,987,776.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	427,354,317
Gross Unrealized Depreciation		(1,305,200)
Net Unrealized Appreciation	$	426,049,117

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Information Technology			28.2%
	Health Care			15.0%
	Financials			13.8%
	Consumer Discretionary			12.5%
	Industrials			8.3%
	Consumer Staples			7.2%
	Energy			6.3%
	Telecommunication Services			2.5%
	Materials			2.0%
	Utilities			1.6%
	Real Estate			1.4%
	Assets in Excess of Other Liabilities*			1.2%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 98.8%
			Consumer Discretionary: 12.5%
	19,464 (1)		Amazon.com, Inc.		$	33,084,907		3.7
	218,735		Comcast Corp. – Class A			7,176,695		0.8
	55,181		Home Depot, Inc.			10,765,813		1.2
	37,630		McDonald’s Corp.			5,896,245		0.7
	19,948 (1)		Netflix, Inc.			7,808,246		0.9
	71,380		Walt Disney Co.			7,481,338		0.8
	625,765	(2)(3)	Other Securities			39,491,286		4.4
						111,704,530		12.5
			Consumer Staples: 7.2%
	90,642		Altria Group, Inc.			5,147,559		0.6
	183,126		Coca-Cola Co.			8,031,906		0.9
	67,826		PepsiCo, Inc.			7,384,217		0.8
	74,364		Philip Morris International, Inc.			6,004,149		0.7
	120,525		Procter & Gamble Co.			9,408,182		1.0
	68,306		Walmart, Inc.			5,850,409		0.6
	305,594 (3)		Other Securities			22,912,781		2.6
						64,739,203		7.2
			Energy: 6.3%
	91,194		Chevron Corp.			11,529,658		1.3
	202,829		Exxon Mobil Corp.			16,780,043		1.8
	434,614		Other Securities			28,424,461		3.2
						56,734,162		6.3
			Financials: 13.8%
	452,486		Bank of America Corp.			12,755,580		1.4

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Financials (continued)
	92,745 (1)	Berkshire Hathaway, Inc. – Class B		$	17,310,854		1.9
	122,128	Citigroup, Inc.			8,172,806		0.9
	162,216	JPMorgan Chase & Co.			16,902,907		1.9
	210,285	Wells Fargo & Co.			11,658,201		1.3
	718,243	Other Securities			57,086,199		6.4
					123,886,547		13.8
		Health Care: 15.0%
	81,910	Abbott Laboratories			4,995,691		0.6
	76,023	AbbVie, Inc.			7,043,531		0.8
	31,692	Amgen, Inc.			5,850,026		0.6
	128,536	Johnson & Johnson			15,596,558		1.7
	64,781	Medtronic PLC			5,545,902		0.6
	128,909	Merck & Co., Inc.			7,824,776		0.9
	277,773	Pfizer, Inc.			10,077,605		1.1
	45,761	UnitedHealth Group, Inc.			11,227,004		1.3
	620,860 (3)	Other Securities			66,303,627		7.4
					134,464,720		15.0
		Industrials: 8.3%
	27,614	3M Co.			5,432,226		0.6
	26,298	Boeing Co.			8,823,242		1.0
	412,652	General Electric Co.			5,616,194		0.6
	35,680	Honeywell International, Inc.			5,139,704		0.6
	36,892	Union Pacific Corp.			5,226,858		0.6
	411,561	Other Securities			43,923,016		4.9
					74,161,240		8.3
		Information Technology: 28.2%
	30,779	Accenture PLC			5,035,137		0.6
	23,534 (1)	Adobe Systems, Inc.			5,737,825		0.6
	14,302 (1)	Alphabet, Inc. - Class A			16,149,675		1.8
	14,578 (1)	Alphabet, Inc. - Class C			16,263,946		1.8
	235,513	Apple, Inc.			43,595,811		4.9
	20,640	Broadcom, Inc.			5,008,090		0.5
	230,882	Cisco Systems, Inc.			9,934,852		1.1
	113,848 (1)	Facebook, Inc. - Class A			22,122,943		2.5
	223,357	Intel Corp.			11,103,077		1.2
	43,980	International Business Machines Corp.			6,144,006		0.7
	43,984	Mastercard, Inc. - Class A			8,643,736		1.0
	362,867	Microsoft Corp.			35,782,315		4.0
	27,864	Nvidia Corp.			6,600,982		0.7
	137,557	Oracle Corp.			6,060,761		0.7
	46,895	Texas Instruments, Inc.			5,170,174		0.6
	85,592	Visa, Inc. - Class A			11,336,660		1.3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Information Technology (continued)
	595,800 (3)	Other Securities		$	37,526,211		4.2
					252,216,201		28.2
		Materials: 2.0%
	111,159	DowDuPont, Inc.			7,327,602		0.8
	71,644	Other Securities			10,251,820		1.2
					17,579,422		2.0
		Real Estate: 1.4%
	91,800	Other Securities			12,578,363		1.4
		Telecommunication Services: 2.5%
	348,024	AT&T, Inc.			11,175,050		1.3
	198,054	Verizon Communications, Inc.			9,964,097		1.1
	14,696 (3)	Other Securities			878,086		0.1
					22,017,233		2.5
		Utilities: 1.6%
	205,552	Other Securities			14,393,264		1.6
		Total Common Stock (Cost $312,528,107)			884,474,885		98.8

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 1.3%
		Securities Lending Collateral(4): 0.3%
	1,000,000	Dominion Securities Inc., Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $1,000,173, collateralized by various U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $1,020,000, due 11/01/36-06/01/48)		1,000,000		0.1
	1,000,000	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,000,187, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,020,000, due 11/15/42-08/15/44)		1,000,000		0.1

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(4) (continued)
	293,992	Natwest Markets PLC, Repurchase Agreement dated 06/29/18, 2.09%, due 07/02/18 (Repurchase Amount $294,043, collateralized by various U.S. Government Securities, 2.500%-6.625%, Market Value plus accrued interest $299,875, due 05/15/20-05/15/46)		$	293,992		0.1
					2,293,992		0.3

Shares			Value			Percentage of Net Assets
		Mutual Funds: 1.0%
	9,160,000 (5)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $9,160,000)			9,160,000		1.0
		Total Short-Term Investments (Cost $11,453,992)			11,453,992		1.3
		Total Investments in Securities (Cost $323,982,099)		$	895,928,877		100.1
		Liabilities in Excess of Other Assets			(1,175,392)		(0.1)
		Net Assets		$	894,753,485		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Non-income producing security.

(2)

The grouping contains securities on loan.

(3)

The grouping contains non-income producing securities.

(4)

Represents securities purchased with cash collateral received for securities on loan.

(5)

Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	884,474,885		$	—		$	—		$	884,474,885
Short-Term Investments			9,160,000			2,293,992			—			11,453,992
Total Investments, at fair value		$	893,634,885		$	2,293,992		$	—		$	895,928,877
Liabilities Table
Other Financial Instruments+
Futures		$	(213,114)		$	—		$	—		$	(213,114)
Total Liabilities		$	(213,114)		$	—		$	—		$	(213,114)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

At June 30, 2018, the following futures contracts were outstanding for Voya Russell™ Large Cap Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
S&P 500 E-Mini		77		09/21/18		$	10,478,160		$	(213,114)
						$	10,478,160		$	(213,114)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	213,114
Total Liability Derivatives			$	213,114

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	857,339
Total		$	857,339

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(238,626)
Total		$	(238,626)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $327,152,977.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	575,437,083
Gross Unrealized Depreciation		(6,874,297)
Net Unrealized Appreciation	$	568,562,786

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Value Index Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Financials			25.8%
	Health Care			17.5%
	Energy			12.8%
	Information Technology			10.3%
	Consumer Staples			8.3%
	Consumer Discretionary			6.6%
	Industrials			5.8%
	Telecommunication Services			5.2%
	Utilities			3.5%
	Materials			2.9%
	Real Estate			0.6%
	Assets in Excess of Other Liabilities*			0.7%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares			Value			Percentage of Net Assets
COMMON STOCK: 99.3%
		Consumer Discretionary: 6.6%
	203,397	Comcast Corp. – Class A		$	6,673,456		1.7
	58,289	General Motors Co.			2,296,587		0.6
	28,203	McDonald’s Corp.			4,419,128		1.1
	46,445	Twenty-First Century Fox, Inc. - Class A			2,307,852		0.6
	21,742	Twenty-First Century Fox, Inc. - Class B			1,071,228		0.3
	253,154 (1)	Other Securities			8,703,939		2.3
					25,472,190		6.6
		Consumer Staples: 8.3%
	64,464	Mondelez International, Inc.			2,643,024		0.7
	69,155	Philip Morris International, Inc.			5,583,575		1.4
	112,079	Procter & Gamble Co.			8,748,887		2.3
	37,661	Walgreens Boots Alliance, Inc.			2,260,225		0.6
	63,519	Walmart, Inc.			5,440,402		1.4
	130,008	Other Securities			7,454,621		1.9
					32,130,734		8.3
		Energy: 12.8%
	84,804	Chevron Corp.			10,721,770		2.8
	52,122	ConocoPhillips			3,628,734		0.9
	22,824	EOG Resources, Inc.			2,839,990		0.7
	188,621	Exxon Mobil Corp.			15,604,615		4.1
	34,105	Occidental Petroleum Corp.			2,853,906		0.7
	61,703	Schlumberger Ltd.			4,135,952		1.1
	179,781	Other Securities			9,511,613		2.5
					49,296,580		12.8

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Financials: 25.8%
	420,764	Bank of America Corp.		$	11,861,337		3.1
	41,610	Bank of New York Mellon Corp.			2,244,027		0.6
	75,381 (2)	Berkshire Hathaway, Inc. – Class B			14,069,864		3.6
	5,482	Blackrock, Inc.			2,735,737		0.7
	20,627	Chubb Ltd.			2,620,042		0.7
	113,563	Citigroup, Inc.			7,599,636		2.0
	13,758	CME Group, Inc.			2,255,211		0.6
	15,754	Goldman Sachs Group, Inc.			3,474,860		0.9
	150,846	JPMorgan Chase & Co.			15,718,153		4.1
	55,545	Morgan Stanley			2,632,833		0.7
	20,884	PNC Financial Services Group, Inc.			2,821,429		0.7
	68,440	US Bancorp			3,423,369		0.9
	195,546	Wells Fargo & Co.			10,841,070		2.8
	254,642	Other Securities			17,164,363		4.4
					99,461,931		25.8
		Health Care: 17.5%
	76,171	Abbott Laboratories			4,645,669		1.2
	15,082	Allergan plc			2,514,471		0.6
	11,369	Anthem, Inc.			2,706,163		0.7
	10,718	Becton Dickinson & Co.			2,567,604		0.7
	45,239	CVS Health Corp.			2,911,130		0.7
	27,511	Danaher Corp.			2,714,786		0.7
	98,015	Johnson & Johnson			11,893,140		3.1
	60,240	Medtronic PLC			5,157,146		1.3
	111,849	Merck & Co., Inc.			6,789,234		1.8
	258,315	Pfizer, Inc.			9,371,668		2.4
	16,796	Thermo Fisher Scientific, Inc.			3,479,124		0.9
	153,239 (1)	Other Securities			12,958,126		3.4
					67,708,261		17.5
		Industrials: 5.8%
	383,750	General Electric Co.			5,222,838		1.3
	33,339	United Technologies Corp.			4,168,375		1.1
	161,265	Other Securities			12,984,611		3.4
					22,375,824		5.8
		Information Technology: 10.3%
	214,702	Cisco Systems, Inc.			9,238,627		2.4
	207,698	Intel Corp.			10,324,668		2.7
	115,502	Oracle Corp.			5,089,018		1.3
	66,000	Qualcomm, Inc.			3,703,920		0.9
	240,061 (1)	Other Securities			11,457,118		3.0
					39,813,351		10.3
		Materials: 2.9%
	103,366	DowDuPont, Inc.			6,813,887		1.7
	35,149	Other Securities			4,500,128		1.2
					11,314,015		2.9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Value Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Real Estate: 0.6%
	29,240	Other Securities		$	2,229,167		0.6
		Telecommunication Services: 5.2%
	323,628	AT&T, Inc.			10,391,695		2.7
	184,174	Verizon Communications, Inc.			9,265,794		2.4
	4,741 (1)	Other Securities			283,275		0.1
					19,940,764		5.2
		Utilities: 3.5%
	31,235	Duke Energy Corp.			2,470,064		0.7
	20,963	NextEra Energy, Inc.			3,501,450		0.9
	138,945	Other Securities			7,412,968		1.9
					13,384,482		3.5
		Total Common Stock (Cost $287,236,266)			383,127,299		99.3

Principal
Amount†

Value

Percentage
of Net
Assets

SHORT-TERM INVESTMENTS: 0.7%

Mutual Funds: 0.7%

2,711,000 (3)

Morgan Stanley Institutional
Liquidity Funds - Government
Portfolio (Institutional Share
Class), 1.810%
(Cost $2,711,000)

2,711,000

0.7

Principal Amount†		Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
	Total Short-Term Investments (Cost $2,711,000)		$	2,711,000		0.7
	Total Investments in Securities (Cost $289,947,266)		$	385,838,299		100.0
	Assets in Excess of Other Liabilities			161,025		0.0
	Net Assets		$	385,999,324		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

(1)

The grouping contains non-income producing securities.

(2)

Non-income producing security.

(3)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	383,127,299		$	—		$	—		$	383,127,299
Short-Term Investments			2,711,000			—			—			2,711,000
Total Investments, at fair value		$	385,838,299		$	—		$	—		$	385,838,299
Liabilities Table
Other Financial Instruments+
Futures		$	(73,296)		$	—		$	—		$	(73,296)
Total Liabilities		$	(73,296)		$	—		$	—		$	(73,296)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

See Accompanying Notes to Financial Statements

100

TABLE OF CONTENTS

Voya Russell™ Large Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Value Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the following futures contracts were outstanding for Voya Russell™ Large Cap Value Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
S&P 500 E-Mini		24		09/21/18		$	3,265,920		$	(73,296)
						$	3,265,920		$	(73,296)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	73,296
Total Liability Derivatives			$	73,296

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(86,840)
Total		$	(86,840)

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(83,716)
Total		$	(83,716)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $293,074,729.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	105,030,896
Gross Unrealized Depreciation		(12,340,621)
Net Unrealized Appreciation	$	92,690,275

See Accompanying Notes to Financial Statements

101

TABLE OF CONTENTS

Voya Russell™ Mid Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Information Technology			31.9%
	Consumer Discretionary			18.0%
	Industrials			16.0%
	Health Care			14.3%
	Financials			7.3%
	Materials			3.9%
	Consumer Staples			3.4%
	Real Estate			2.2%
	Energy			1.8%
	Telecommunication Services			0.2%
	Assets in Excess of Other Liabilities*			1.0%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 99.0%
			Consumer Discretionary: 18.0%
	2,442 (1)		Autozone, Inc.		$	1,638,411		0.5
	34,337		CBS Corp. - Class B			1,930,426		0.6
	23,930		Delphi Technologies PLC			2,192,706		0.7
	28,025		Dollar General Corp.			2,763,265		0.9
	29,089		Hilton Worldwide Holdings, Inc.			2,302,685		0.7
	8,373 (1)		O’Reilly Automotive, Inc.			2,290,602		0.7
	38,608		Ross Stores, Inc.			3,272,028		1.1
	25,962		VF Corp.			2,116,422		0.7
	10,713		Wynn Resorts Ltd.			1,792,714		0.6
	655,563	(2)(3)	Other Securities			35,352,714		11.5
						55,651,973		18.0
			Consumer Staples: 3.4%
	5,346		Brown-Forman Corp. - Class A			261,206		0.1
	29,440		Brown-Forman Corp. - Class B			1,442,854		0.5
	11,766		Clorox Co.			1,591,351		0.5
	18,673		Dr Pepper Snapple Group, Inc.			2,278,106		0.7
	87,539	(2)(3)	Other Securities			5,054,761		1.6
						10,628,278		3.4
			Energy: 1.8%
	132,631 (3)		Other Securities			5,427,528		1.8
			Financials: 7.3%
	17,369		Moody’s Corp.			2,962,457		1.0
	9,174		MSCI, Inc. - Class A			1,517,655		0.5

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Financials (continued)
	22,882		T. Rowe Price Group, Inc.		$	2,656,371		0.9
	1,247 (4)		Voya Financial, Inc.			58,609		0.0
	194,748	(2)(3)	Other Securities			15,245,326		4.9
						22,440,418		7.3
			Health Care: 14.3%
	4,396 (1)		Abiomed, Inc.			1,798,184		0.6
	8,258 (1)		Align Technology, Inc.			2,825,392		0.9
	18,387 (1)		BioMarin Pharmaceutical, Inc.			1,732,055		0.6
	18,691 (1)		Centene Corp.			2,302,918		0.8
	21,882 (1)		Edwards Lifesciences Corp.			3,185,363		1.0
	8,945 (1)		Idexx Laboratories, Inc.			1,949,473		0.6
	14,646		Resmed, Inc.			1,517,033		0.5
	330,785	(2)(3)	Other Securities			28,769,597		9.3
						44,080,015		14.3
			Industrials: 16.0%
	9,096		Cintas Corp.			1,683,397		0.5
	3,725 (1)		CoStar Group, Inc.			1,537,047		0.5
	29,423		Fortive Corp.			2,268,807		0.7
	12,353		Harris Corp.			1,785,503		0.6
	13,041		Rockwell Automation, Inc.			2,167,805		0.7
	5,050		TransDigm Group, Inc.			1,742,957		0.6
	16,712 (1)		Verisk Analytics, Inc.			1,798,880		0.6
	472,411	(2)(3)	Other Securities			36,322,325		11.8
						49,306,721		16.0
			Information Technology: 31.9%
	30,751		Amphenol Corp.			2,679,950		0.9
	5,925 (1)		Arista Networks, Inc.			1,525,628		0.5
	19,199 (1)		Autodesk, Inc.			2,516,797		0.8
	42,681 (1)		Fiserv, Inc.			3,162,235		1.0
	9,273 (1)		FleetCor Technologies, Inc.			1,953,357		0.6
	16,551		Global Payments, Inc.			1,845,271		0.6
	16,252		KLA-Tencor Corp.			1,666,318		0.5
	17,089		Lam Research Corp.			2,953,834		1.0
	28,995		Maxim Integrated Products			1,700,847		0.6
	23,968		Microchip Technology, Inc.			2,179,890		0.7
	27,969		NetApp, Inc.			2,196,406		0.7
	9,232 (1)		Palo Alto Networks, Inc.			1,896,899		0.6
	33,449		Paychex, Inc.			2,286,239		0.7
	18,450 (1)		Red Hat, Inc.			2,479,126		0.8
	18,252 (1)		ServiceNow, Inc.			3,147,922		1.0
	29,804 (1)		Square, Inc.			1,837,119		0.6
	18,751		Total System Services, Inc.			1,584,834		0.5
	73,742 (1)		Twitter, Inc.			3,220,313		1.1
	15,128 (1)		Workday, Inc.			1,832,303		0.6

See Accompanying Notes to Financial Statements

102

TABLE OF CONTENTS

Voya Russell™ Mid Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology (continued)
	26,539		Xilinx, Inc.		$	1,731,935		0.6
	859,523	(2)(3)	Other Securities			53,957,714		17.5
						98,354,937		31.9
			Materials: 3.9%
	12,873		Vulcan Materials Co.			1,661,389		0.5
	149,619	(2)(3)	Other Securities			10,518,256		3.4
						12,179,645		3.9
			Real Estate: 2.2%
	11,867 (1)		SBA Communications Corp.			1,959,479		0.7
	70,051 (3)		Other Securities			4,722,460		1.5
						6,681,939		2.2
			Telecommunication Services: 0.2%
	20,705 (3)		Other Securities			755,318		0.2
			Total Common Stock (Cost $180,662,492)			305,506,772		99.0

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 4.7%
		Securities Lending Collateral(5): 3.7%
	5,098,442	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $5,099,314, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $5,200,411, due 07/25/18-06/15/53)		5,098,442		1.6
	808,123	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $808,256, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $824,285, due 07/05/18-09/09/49)		808,123		0.3

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(5) (continued)
	2,672,299	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $2,672,800, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $2,725,745, due 11/15/42-08/15/44)		$	2,672,299		0.9
	2,672,299	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $2,672,804, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $2,725,765, due 07/15/19-02/15/48)			2,672,299		0.9
					11,251,163		3.7

Shares			Value			Percentage of Net Assets
		Mutual Funds: 1.0%
	3,142,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $3,142,000)			3,142,000		1.0
		Total Short-Term Investments (Cost $14,393,163)			14,393,163		4.7
		Total Investments in Securities (Cost $195,055,655)		$	319,899,935		103.7
		Liabilities in Excess of Other Assets			(11,304,482)		(3.7)
		Net Assets		$	308,595,453		100.0

See Accompanying Notes to Financial Statements

103

TABLE OF CONTENTS

Voya Russell™ Mid Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Non-income producing security.

(2)

The grouping contains securities on loan.

(3)

The grouping contains non-income producing securities.

(4)

Investment in affiliate

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	305,506,772		$	—		$	—		$	305,506,772
Short-Term Investments			3,142,000			11,251,163			—			14,393,163
Total Investments, at fair value		$	308,648,772		$	11,251,163		$	—		$	319,899,935
Liabilities Table
Other Financial Instruments+
Futures		$	(72,792)		$	—		$	—		$	(72,792)
Total Liabilities		$	(72,792)		$	—		$	—		$	(72,792)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended June 30, 2018, where the following issuers were considered an affiliate:

Issuer	Beginning Fair Value at 12/31/17			Purchases at Cost			Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Fair Value at 6/30/18			Investment Income			Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Financial, Inc.		$	50,212		$	12,935		$	(1,057)		$	(3,481)		$	58,609		$	20		$	492		$	—
		$	50,212		$	12,935		$	(1,057)		$	(3,481)		$	58,609		$	20		$	492		$	—

At June 30, 2018, the following futures contracts were outstanding for Voya Russell™ Mid Cap Growth Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
S&P Mid 400 E-Mini		18		09/21/18		$	3,520,980		$	(72,792)
						$	3,520,980		$	(72,792)

See Accompanying Notes to Financial Statements

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Voya Russell™ Mid Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Growth Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	72,792
Total Liability Derivatives			$	72,792

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(63,875)
Total		$	(63,875)

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(61,002)
Total		$	(61,002)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $195,477,429.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	127,395,891
Gross Unrealized Depreciation		(3,046,177)
Net Unrealized Appreciation	$	124,349,714

See Accompanying Notes to Financial Statements

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Voya Russell™ Mid Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Information Technology			18.2%
	Consumer Discretionary			14.2%
	Financials			13.8%
	Industrials			13.5%
	Health Care			9.6%
	Real Estate			8.9%
	Utilities			6.0%
	Materials			5.4%
	Energy			5.3%
	Consumer Staples			4.5%
	Telecommunication Services			0.4%
	Assets in Excess of Other Liabilities*			0.2%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 99.8%
			Consumer Discretionary: 14.2%
	55,753		Delphi Technologies PLC		$	5,108,647		0.3
	56,677		Dollar General Corp.			5,588,352		0.4
	58,828		Hilton Worldwide Holdings, Inc.			4,656,825		0.3
	16,932 (1)		O’Reilly Automotive, Inc.			4,632,087		0.3
	78,078		Ross Stores, Inc.			6,617,111		0.4
	68,186		VF Corp.			5,558,523		0.3
	3,874,992	(2)(3)	Other Securities			188,853,251		12.2
						221,014,796		14.2
			Consumer Staples: 4.5%
	117,701		Archer-Daniels-Midland Co.			5,394,237		0.4
	179,261		Kroger Co.			5,099,976		0.3
	1,015,859	(2)(3)	Other Securities			58,538,307		3.8
						69,032,520		4.5
			Energy: 5.3%
	110,103		Devon Energy Corp.			4,840,128		0.3
	86,375		Oneok, Inc.			6,031,566		0.4
	174,651		Williams Cos., Inc.			4,734,789		0.3
	2,179,976	(2)(3)	Other Securities			67,240,774		4.3
						82,847,257		5.3
			Financials: 13.8%
	73,407		Discover Financial Services			5,168,587		0.3
	30,546		M&T Bank Corp.			5,197,402		0.3
	35,126		Moody’s Corp.			5,991,090		0.4
	97,895		SunTrust Banks, Inc.			6,463,028		0.4
	159,315		Synchrony Financial			5,317,935		0.4

Shares				Value			Percentage of Net Assets
COMMON STOCK (continued)
			Financials (continued)
	49,758		T. Rowe Price Group, Inc.		$	5,776,406		0.4
	35,533 (4)		Voya Financial, Inc.			1,670,051		0.1
	4,446,765	(2)(3)	Other Securities			178,453,998		11.5
						214,038,497		13.8
			Health Care: 9.6%
	16,701 (1)		Align Technology, Inc.			5,714,080		0.4
	42,759 (1)		Centene Corp.			5,268,336		0.3
	44,252 (1)		Edwards Lifesciences Corp.			6,441,764		0.4
	42,914		Zimmer Biomet Holdings, Inc.			4,782,336		0.3
	1,565,743	(2)(3)	Other Securities			126,652,252		8.2
						148,858,768		9.6
			Industrials: 13.5%
	64,819		Fortive Corp.			4,998,193		0.3
	52,179		Ingersoll-Rand PLC - Class A			4,682,022		0.3
	34,541		Rockwell Collins, Inc.			4,651,982		0.3
	21,349		Roper Technologies, Inc.			5,890,402		0.4
	2,727,575	(2)(3)	Other Securities			189,751,354		12.2
						209,973,953		13.5
			Information Technology: 18.2%
	62,188		Amphenol Corp.			5,419,684		0.4
	77,839		Analog Devices, Inc.			7,466,317		0.5
	46,222 (1)		Autodesk, Inc.			6,059,242		0.4
	172,314		Corning, Inc.			4,740,358		0.3
	60,154		DXC Technology Co.			4,849,014		0.3
	69,493		Fidelity National Information Services, Inc.			7,368,343		0.5
	86,315 (1)		Fiserv, Inc.			6,395,078		0.4
	34,560		Lam Research Corp.			5,973,696		0.4
	67,645		Paychex, Inc.			4,623,536		0.3
	37,313 (1)		Red Hat, Inc.			5,013,748		0.3
	36,911 (1)		ServiceNow, Inc.			6,366,040		0.4
	149,130 (1)		Twitter, Inc.			6,512,507		0.4
	63,157		Western Digital Corp.			4,888,983		0.3
	61,539 (1)		Worldpay, Inc.			5,032,660		0.3
	3,579,569	(2)(3)	Other Securities			201,192,554		13.0
						281,901,760		18.2
			Materials: 5.4%
	304,970		Freeport-McMoRan, Inc.			5,263,782		0.3
	1,495,503	(2)(3)	Other Securities			78,525,227		5.1
						83,789,009		5.4
			Real Estate: 8.9%
	29,094		AvalonBay Communities, Inc.			5,000,968		0.3
	43,320		Digital Realty Trust, Inc.			4,833,645		0.3
	75,633		Equity Residential			4,817,066		0.3
	78,448		Welltower, Inc.			4,917,905		0.3
	159,600		Weyerhaeuser Co.			5,819,016		0.4
	3,116,960	(2)(3)	Other Securities			112,478,579		7.3
						137,867,179		8.9

See Accompanying Notes to Financial Statements

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SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK (continued)
		Telecommunication Services: 0.4%
	402,363 (3)	Other Securities		$	6,686,878		0.4
		Utilities: 6.0%
	65,629	Consolidated Edison, Inc.			5,117,749		0.3
	108,960	PG&E Corp.			4,637,338		0.3
	106,330	Public Service Enterprise Group, Inc.			5,756,706		0.4
	55,724	Sempra Energy			6,470,114		0.4
	107,215	Xcel Energy, Inc.			4,897,581		0.3
	1,540,170 (3)	Other Securities			66,717,003		4.3
					93,596,491		6.0
		Total Common Stock (Cost $787,740,237)			1,549,607,108		99.8

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.5%
		Securities Lending Collateral(5): 2.0%
	7,257,668	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.10%, due 07/02/18 (Repurchase Amount $7,258,921, collateralized by various U.S. Government Agency Obligations, 3.000%-4.500%, Market Value plus accrued interest $7,402,821, due 06/01/46-05/15/58)		7,257,668		0.4
	7,257,668	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $7,259,028, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $7,402,823, due 11/15/42-08/15/44)		7,257,668		0.5
	7,257,668	MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $7,258,933, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $7,402,821, due 02/01/21-10/15/58)		7,257,668		0.5

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(5) (continued)
	1,526,267	Nomura Securities, Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $1,526,533, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-9.000%, Market Value plus accrued interest $1,556,792, due 07/15/18-05/20/68)		$	1,526,267		0.1
	7,257,668	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $7,259,040, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $7,402,876, due 07/15/19-02/15/48)			7,257,668		0.5
					30,556,939		2.0

Shares			Value			Percentage of Net Assets
		Mutual Funds: 0.5%
	7,736,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $7,736,000)			7,736,000		0.5
		Total Short-Term Investments (Cost $38,292,939)			38,292,939		2.5
		Total Investments in Securities (Cost $826,033,176)		$	1,587,900,047		102.3
		Liabilities in Excess of Other Assets			(35,049,038)		(2.3)
		Net Assets		$	1,552,851,009		100.0

See Accompanying Notes to Financial Statements

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SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Non-income producing security.

(2)

The grouping contains securities on loan.

(3)

The grouping contains non-income producing securities.

(4)

Investment in affiliate

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	1,549,607,108		$	—		$	—		$	1,549,607,108
Short-Term Investments			7,736,000			30,556,939			—			38,292,939
Total Investments, at fair value		$	1,557,343,108		$	30,556,939		$	—		$	1,587,900,047
Liabilities Table
Other Financial Instruments+
Futures		$	(80,407)		$	—		$	—		$	(80,407)
Total Liabilities		$	(80,407)		$	—		$	—		$	(80,407)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended June 30, 2018, where the following issuers were considered an affiliate:

	Beginning Fair Value at 12/31/17			Purchases at Cost			Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Fair Value at 6/30/18			Investment Income			Realized Gains/ (Losses)			Net Capital Gain Distributions
Issuer
Voya Financial, Inc.		$	2,402,560		$	16,228		$	(481,788)		$	(266,949)		$	1,670,051		$	928		$	209,914		$	—
		$	2,402,560		$	16,228		$	(481,788)		$	(266,949)		$	1,670,051		$	928		$	209,914		$	—

At June 30, 2018, the following futures contracts were outstanding for Voya Russell™ Mid Cap Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
S&P Mid 400 E-Mini		21		09/21/18		$	4,107,810		$	(80,407)
						$	4,107,810		$	(80,407)

See Accompanying Notes to Financial Statements

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Voya Russell™ Mid Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	80,407
Total Liability Derivatives			$	80,407

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	991,381
Total		$	991,381

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(86,309)
Total		$	(86,309)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $837,057,737.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	790,466,029
Gross Unrealized Depreciation		(39,704,126)
Net Unrealized Appreciation	$	750,761,903

See Accompanying Notes to Financial Statements

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Voya Russell™ Small Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Financials			17.4%
	Health Care			15.2%
	Industrials			14.5%
	Information Technology			14.5%
	Consumer Discretionary			13.0%
	Real Estate			7.1%
	Energy			4.9%
	Materials			4.2%
	Utilities			3.2%
	Consumer Staples			2.7%
	Telecommunication Services			0.7%
	Assets in Excess of Other Liabilities*			2.6%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 97.4%
			Consumer Discretionary: 13.0%
	5,407		Churchill Downs, Inc.		$	1,603,175		0.2
	21,947 (1)		Five Below, Inc.			2,144,441		0.2
	35,740 (1)		Planet Fitness, Inc.			1,570,416		0.2
	26,280		Texas Roadhouse, Inc.			1,721,603		0.2
	15,174 (1)		Weight Watchers International, Inc.			1,534,091		0.1
	4,487,060	(2)(3)	Other Securities			109,115,266		12.1
						117,688,992		13.0
			Consumer Staples: 2.7%
	1,145,614	(2)(3)	Other Securities			24,417,698		2.7
			Energy: 4.9%
	33,232		Delek US Holdings, Inc.			1,667,249		0.2
	26,430 (1)		PDC Energy, Inc.			1,597,694		0.2
	3,465,641	(2)(3)	Other Securities			40,805,777		4.5
						44,070,720		4.9
			Financials: 17.4%
	28,934		Chemical Financial Corp.			1,610,756		0.2
	18,750		FirstCash, Inc.			1,684,687		0.2
	33,710		Hancock Holding Co.			1,572,572		0.2
	20,600		Iberiabank Corp.			1,561,480		0.2
	33,222		MB Financial, Inc.			1,551,467		0.1
	151,721 (1)		MGIC Investment Corp.			1,626,449		0.2
	17,680		Primerica, Inc.			1,760,928		0.2
	5,818,584	(2)(3)	Other Securities			145,884,192		16.1
						157,252,531		17.4
			Health Care: 15.2%
	29,400 (1)		FibroGen, Inc.			1,840,440		0.2

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care (continued)
	21,528 (1)		Haemonetics Corp.		$	1,930,631		0.2
	21,246 (1)		HealthEquity, Inc.			1,595,575		0.2
	8,429 (1)		Ligand Pharmaceuticals, Inc.			1,746,236		0.2
	19,481 (1)		LivaNova PLC			1,944,593		0.2
	10,491 (1)		Loxo Oncology, Inc.			1,819,979		0.2
	22,995 (1)		Medidata Solutions, Inc.			1,852,477		0.2
	20,324 (1)		Neogen Corp.			1,629,782		0.2
	6,978,090	(2)(3)	Other Securities			122,752,260		13.6
						137,111,973		15.2
			Industrials: 14.5%
	20,103 (1)		ASGN, Inc.			1,571,854		0.2
	19,433		Brink’s Co.			1,549,782		0.1
	23,433		EMCOR Group, Inc.			1,785,126		0.2
	21,226		Woodward, Inc.			1,631,430		0.2
	3,866,813	(2)(3)	Other Securities			124,528,140		13.8
						131,066,332		14.5
			Information Technology: 14.5%
	19,348		Blackbaud, Inc.			1,982,202		0.2
	9,812 (1)		CACI International, Inc.			1,653,813		0.2
	39,773 (1)		Cree, Inc.			1,653,364		0.2
	56,434		Entegris, Inc.			1,913,113		0.2
	48,398 (1)		Etsy, Inc.			2,041,912		0.2
	14,298	(1)(4)	HubSpot, Inc.			1,792,969		0.2
	53,488 (1)		Integrated Device Technology, Inc.			1,705,197		0.2
	18,638		j2 Global, Inc.			1,614,237		0.2
	25,947		Maximus, Inc.			1,611,568		0.2
	17,187 (1)		New Relic, Inc.			1,728,840		0.2
	16,645 (1)		Silicon Laboratories, Inc.			1,657,842		0.2
	6,829 (1)		Stamps.com, Inc.			1,728,078		0.2
	4,464,479	(2)(3)	Other Securities			109,416,139		12.1
						130,499,274		14.5
			Materials: 4.2%
	57,691		Louisiana-Pacific Corp.			1,570,349		0.2
	1,702,369	(2)(3)	Other Securities			36,618,349		4.0
						38,188,698		4.2
			Real Estate: 7.1%
	165,751		Cousins Properties, Inc.			1,606,127		0.2
	47,017		First Industrial Realty Trust, Inc.			1,567,547		0.2
	63,466		Gramercy Property Trust			1,733,891		0.2
	45,177		LaSalle Hotel Properties			1,546,409		0.2
	68,984		RLJ Lodging Trust			1,521,097		0.1
	71,253		Sabra Healthcare REIT, Inc.			1,548,328		0.2
	2,539,796	(2)(3)	Other Securities			54,476,231		6.0
						63,999,630		7.1
			Telecommunication Services: 0.7%
	374,830	(2)(3)	Other Securities			5,790,339		0.7

See Accompanying Notes to Financial Statements

110

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Voya Russell™ Small Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Utilities: 3.2%
	20,177		Allete, Inc.		$	1,561,902		0.1
	20,164		Idacorp, Inc.			1,859,927		0.2
	34,986		New Jersey Resources Corp.			1,565,624		0.2
	20,969		ONE Gas, Inc.			1,567,223		0.2
	20,803		WGL Holdings, Inc.			1,846,266		0.2
	544,142	(2)(3)	Other Securities			20,871,985		2.3
						29,272,927		3.2
			Total Common Stock (Cost $546,863,683)			879,359,114		97.4
RIGHTS: 0.0%
			Consumer Discretionary: –%
	46,399	(3)(5)	Other Securities			—		—
			Health Care: 0.0%
	77,391	(3)(5)	Other Securities			157,807		0.0
			Total Rights (Cost $9,198)			157,807		0.0
			Total Long-Term Investments (Cost $546,872,881)			879,516,921		97.4

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 12.0%
		Securities Lending Collateral(6): 8.4%
	36,277,310	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $36,283,512, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $37,002,856, due 07/25/18-06/15/53)		36,277,310		4.0
	3,803,429	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $3,804,054, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $3,879,498, due 07/05/18-09/09/49)		3,803,429		0.4

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(6) (continued)
	18,133,643	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $18,137,041, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $18,496,319, due 11/15/42-08/15/44)		$	18,133,643		2.0
	18,133,643	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $18,137,071, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $18,496,451, due 07/15/19-02/15/48)			18,133,643		2.0
					76,348,025		8.4

Shares			Value			Percentage of Net Assets
		Mutual Funds: 3.6%
	32,188,000 (7)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $32,188,000)			32,188,000		3.6
		Total Short-Term Investments (Cost $108,536,025)			108,536,025		12.0
		Total Investments in Securities (Cost $655,408,906)		$	988,052,946		109.4
		Liabilities in Excess of Other Assets			(84,848,821)		(9.4)
		Net Assets		$	903,204,125		100.0

See Accompanying Notes to Financial Statements

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Voya Russell™ Small Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Non-income producing security.

(2)

The grouping contains securities on loan.

(3)

The grouping contains non-income producing securities.

(4)

Security, or a portion of the security, is on loan.

(5)

The grouping contains Level 3 securities.

(6)

Represents securities purchased with cash collateral received for securities on loan.

(7)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary		$	117,688,992		$	—		$	—		$	117,688,992
Consumer Staples			24,417,698			—			—			24,417,698
Energy			44,070,720			—			—			44,070,720
Financials			157,252,531			—			—			157,252,531
Health Care			137,111,973			—			—			137,111,973
Industrials			131,066,332			—			—			131,066,332
Information Technology			130,499,274			—			—			130,499,274
Materials			38,188,698			—			—			38,188,698
Real Estate			63,999,630			—			—			63,999,630
Telecommunication Services			5,790,339			—			—			5,790,339
Utilities			29,272,927			—			—			29,272,927
Total Common Stock			879,359,114			—			—			879,359,114
Rights			—			—			157,807			157,807
Short-Term Investments			32,188,000			76,348,025			—			108,536,025
Total Investments, at fair value		$	911,547,114		$	76,348,025		$	157,807		$	988,052,946
Liabilities Table
Other Financial Instruments+
Futures		$	(533,119)		$	—		$	—		$	(533,119)
Total Liabilities		$	(533,119)		$	—		$	—		$	(533,119)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

See Accompanying Notes to Financial Statements

112

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Voya Russell™ Small Cap

SUMMARY PORTFOLIO OF INVESTMENTS

Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the following futures contracts were outstanding for Voya Russell™ Small Cap Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Russell 2000® Mini Index		296		09/21/18		$	24,383,000		$	(533,119)
						$	24,383,000		$	(533,119)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	533,119
Total Liability Derivatives			$	533,119

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	610,574
Total		$	610,574

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(596,745)
Total		$	(596,745)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $657,366,525.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	375,106,565
Gross Unrealized Depreciation		(44,953,263)
Net Unrealized Appreciation	$	330,153,302

See Accompanying Notes to Financial Statements

113

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited)

	Investment Type Allocation as of June 30, 2018 (as a percentage of net assets)

	U.S. Treasury Obligations			41.0%
	Corporate Bonds/Notes			29.0%
	U.S. Government Agency Obligations			28.0%
	Foreign Government Bonds			3.0%
	Commercial Mortgage-Backed Securities			2.0%
	Municipal Bonds			1.0%
	Asset-Backed Securities			0.6%
	Collateralized Mortgage Obligations			0.1%
	Convertible Bonds/Notes			0.0%
	Liabilities in Excess of Other Assets*			(4.7)%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: 29.0%
		Basic Materials: 0.8%
	1,500,000 (1)	Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. L.P., 3.300%, 05/01/2023		$	1,489,859		0.1
	500,000 (1)	Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. L.P., 3.700%, 06/01/2028			494,310		0.0
	24,984,000	Other Securities			25,220,853		0.7
					27,205,022		0.8
		Communications: 2.9%
	1,000,000 (1)	Amazon.com, Inc., 2.800%, 08/22/2024			954,728		0.0
	1,014,000 (1)	AT&T, Inc., 4.100%, 02/15/2028			970,465		0.0
	2,500,000 (1)	AT&T, Inc., 4.900%, 08/15/2037			2,378,051		0.1
	10,630,000	AT&T, Inc., 3.200%-6.000%, 03/01/2022-03/09/2048			10,115,139		0.3
	5,500,000	Cisco Systems, Inc., 2.125%-5.500%, 03/01/2019-01/15/2040			5,773,824		0.2
	750,000	Comcast Cable Communications Holdings, Inc., 9.455%, 11/15/2022			920,667		0.1
	7,059,000	Comcast Corp., 3.000%-6.500%, 02/01/2024-11/01/2047			6,828,755		0.2

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Communications (continued)
	500,000 (1)	Discovery Communications LLC, 3.500%, 06/15/2022		$	495,455		0.0
	250,000 (1)	Discovery Communications LLC, 3.900%, 11/15/2024			244,732		0.0
	1,500,000 (1)	NBCUniversal Enterprise, Inc., 1.974%, 04/15/2019			1,488,983		0.1
	1,000,000 (1)	Tencent Holdings Ltd., 2.985%, 01/19/2023			972,589		0.0
	1,000,000	Time Warner Entertainment Co. L.P., 8.375%, 03/15/2023			1,164,475		0.0
	1,750,000	Time Warner Cable LLC, 4.125%-4.500%, 02/15/2021-09/15/2042			1,578,056		0.0
	4,825,000	Time Warner Inc., 2.100%-6.500%, 06/01/2019-06/01/2044			4,958,852		0.2
	1,585,000 (1)	Verizon Communications, Inc., 4.329%, 09/21/2028			1,574,060		0.1
	11,441,000	Verizon Communications, Inc., 2.625%-4.862%, 11/01/2024-09/15/2048			10,861,556		0.3
	43,078,000 (2)	Other Securities			44,193,689		1.3
					95,474,076		2.9
		Consumer, Cyclical: 1.9%
	286,000 (1)	British Airways 2018-1 Class A Pass Through Trust, 4.125%, 03/20/2033			282,944		0.0
	1,000,000 (1)	Daimler Finance North America LLC, 2.300%, 02/12/2021			971,662		0.0
	500,000 (1)	Daimler Finance North America LLC, 2.375%, 08/01/2018			499,872		0.0
	1,300,000	Ford Motor Credit Co., LLC, 5.875%, 08/02/2021			1,379,019		0.1
	1,300,000	Ford Motor Co., 4.346%-7.450%, 12/08/2026-01/15/2043			1,338,463		0.0
	4,000,000	Ford Motor Credit Co. LLC, 2.021%-4.375%, 01/08/2019-08/04/2025			3,973,961		0.1
	750,000	General Motors Co., 6.600%, 04/01/2036			813,447		0.0
	6,250,000	General Motors Financial Co., Inc., 3.100%-5.250%, 01/15/2019-01/05/2028			6,167,388		0.2
	500,000 (1)	Hyundai Capital America, 2.400%, 10/30/2018			499,304		0.0

See Accompanying Notes to Financial Statements

114

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Consumer, Cyclical (continued)
	1,000,000 (1)	Hyundai Capital America, 2.875%, 08/09/2018		$	999,881		0.0
	250,000 (1)	Nissan Motor Acceptance Corp., 2.000%, 03/08/2019			248,679		0.0
	6,500,000	Walmart, Inc., 1.900%-3.700%, 12/15/2020-06/26/2028			6,446,029		0.2
	41,261,730 (2)	Other Securities			41,445,023		1.3
					65,065,672		1.9
		Consumer, Non-cyclical: 5.5%
	6,750,000	AbbVie, Inc., 2.300%-4.700%, 05/14/2020-05/14/2046			6,512,297		0.2
	6,650,000	Amgen, Inc., 2.250%-4.400%, 11/15/2021-05/01/2045			6,624,416		0.2
	10,000,000	Anheuser-Busch InBev Finance, Inc., 2.650%-4.900%, 02/01/2021-02/01/2046			10,079,478		0.3
	2,000,000	Anheuser-Busch InBev Worldwide, Inc., 3.750%-8.200%, 01/15/2022-07/15/2042			2,309,373		0.1
	1,000,000 (1)	BAT Capital Corp., 3.222%, 08/15/2024			948,131		0.1
	1,000,000 (1)	BAT Capital Corp., 3.557%, 08/15/2027			931,822		0.0
	5,195,000	Celgene Corp., 3.625%-5.000%, 10/15/2020-08/15/2045			5,195,177		0.1
	5,250,000	Cigna Corp., 3.250%-5.125%, 06/15/2020-04/15/2025			5,315,712		0.2
	12,893,000	CVS Health Corp., 2.250%-5.300%, 12/05/2018-03/25/2048			12,836,105		0.4
	500,000 (1)	ERAC USA Finance LLC, 2.350%, 10/15/2019			494,528		0.0
	500,000 (1)	ERAC USA Finance LLC, 3.850%, 11/15/2024			498,147		0.0
	6,660,000	Gilead Sciences, Inc., 1.950%-4.800%, 04/01/2019-03/01/2047			6,509,329		0.2
	6,766,000	Kraft Heinz Foods Co., 3.000%-6.125%, 08/23/2018-06/01/2046			6,631,026		0.2
	1,000,000 (1)	Mylan, Inc., 4.550%, 04/15/2028			978,778		0.0

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Consumer, Non-cyclical (continued)
	9,850,000	UnitedHealth Group, Inc., 1.625%-4.750%, 03/15/2019-04/15/2047		$	9,761,587		0.3
	106,412,000 (2)	Other Securities			106,254,431		3.2
					181,880,337		5.5
		Energy: 2.8%
	4,300,000	Chevron Corp., 1.561%-3.326%, 05/16/2019-05/16/2026			4,200,208		0.1
	5,292,000	Kinder Morgan Energy Partners L.P., 3.500%-6.950%, 03/01/2021-09/01/2044			5,669,371		0.2
	1,500,000	Kinder Morgan, Inc./DE, 4.300%-5.550%, 06/01/2025-02/15/2046			1,477,495		0.0
	2,500,000 (1)	Petroleos Mexicanos, 5.350%, 02/12/2028			2,372,500		0.1
	6,805,000 (3)	Petroleos Mexicanos, 4.250%-6.625%, 03/05/2020-06/27/2044			6,749,222		0.2
	1,000,000	Phillips 66, 2.919%, (US0003M + 0.600%), 02/26/2021			1,001,652		0.1
	69,521,000	Other Securities			70,412,597		2.1
					91,883,045		2.8
		Financial: 9.4%
	1,750,000	American Express Co., 3.000%-3.400%, 02/27/2023-10/30/2024			1,706,508		0.1
	1,500,000	American Express Credit Corp., 2.125%-2.700%, 07/27/2018-03/03/2022			1,482,778		0.0
	21,705,000 (4)	Bank of America Corp., 2.625%-4.450%, 04/01/2019-12/20/2028			21,244,750		0.6
	3,500,000 (4)	Bank of New York Mellon Corp./The, 2.600%-3.442%, 02/07/2022-02/07/2028			3,407,385		0.1
	2,700,000	Bank of New York Mellon Corp., 2.100%-3.000%, 08/01/2018-10/30/2028			2,600,122		0.1
	1,520,000	Berkshire Hathaway Finance Corp., 2.000%-3.000%, 08/15/2018-05/15/2022			1,518,107		0.0
	2,000,000	Berkshire Hathaway, Inc., 2.750%-3.125%, 03/15/2023-03/15/2026			1,943,458		0.1

See Accompanying Notes to Financial Statements

115

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Financial (continued)
	1,000,000 (1)	BNP Paribas SA, 3.500%, 11/16/2027		$	929,169		0.0
	1,000,000 (1)	BPCE SA, 2.750%, 01/11/2023			955,826		0.1
	1,000,000 (1)	BPCE SA, 3.250%, 01/11/2028			930,428		0.0
	550,000	Capital One NA, 2.350%, 08/17/2018			549,840		0.0
	4,000,000	Capital One Financial Corp., 2.450%-4.200%, 04/24/2019-01/31/2028			3,844,865		0.1
	500,000	Citigroup, Inc., Citibank NA, 2.100%, 06/12/2020			489,809		0.0
	13,608,000 (4)	Citigroup, Inc., 2.500%-8.125%, 07/29/2019-05/06/2044			13,540,724		0.4
	750,000 (1)	Credit Suisse Group AG, 3.574%, 01/09/2023			735,173		0.1
	750,000 (1)	Credit Suisse Group AG, 4.282%, 01/09/2028			730,004		0.0
	800,000 (1)	Dexia Credit Local SA, 2.500%, 01/25/2021			790,368		0.0
	5,801,000	GE Capital International Funding Co. Unlimited Co., 4.418%, 11/15/2035			5,626,483		0.2
	4,580,000 (4)	Goldman Sachs Group, Inc./The, 2.875%-3.850%, 02/25/2021-04/23/2029			4,437,551		0.1
	8,800,000	Goldman Sachs Group, Inc., 2.550%-6.750%, 10/23/2019-10/01/2037			9,577,903		0.3
	5,600,000 (4)	HSBC Holdings PLC, 3.400%-6.500%, 03/08/2021-12/31/2199			6,139,946		0.2
	500,000	HSBC USA, Inc., 2.250%-3.500%, 06/23/2019-06/23/2024			493,208		0.0
	1,000,000 (4)	JPMorgan Chase Bank NA, 2.604%, 02/01/2021			991,480		0.0
	17,625,000 (4)	JPMorgan Chase & Co., 2.700%-5.500%, 06/23/2020-10/15/2040			17,683,393		0.6
	19,000,000	Kreditanstalt fuer Wiederaufbau, 1.250%-2.625%, 09/30/2019-03/07/2022			18,723,404		0.6
	500,000 (1)	Metropolitan Life Global Funding I, 1.950%, 09/15/2021			478,943		0.0

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Financial (continued)
	750,000 (1)	Metropolitan Life Global Funding I, 3.450%, 12/18/2026		$	728,510		0.0
	13,300,000 (4)	Morgan Stanley, 2.500%-5.000%, 04/21/2021-01/24/2029			13,068,426		0.4
	750,000 (1)	Toronto-Dominion Bank/The, 2.500%, 01/18/2023			734,386		0.0
	500,000 (1)	UBS Group Funding Switzerland AG, 2.950%, 09/24/2020			494,867		0.0
	500,000 (1)	UBS Group Funding Switzerland AG, 3.000%, 04/15/2021			492,517		0.0
	16,733,000 (4)	Wells Fargo & Co., 2.625%-5.606%, 04/01/2021-01/15/2044			16,902,152		0.5
	1,750,000	Wells Fargo Bank NA, 2.600%-6.600%, 01/15/2021-01/15/2038			1,920,451		0.1
	158,955,000 (2)	Other Securities			156,734,016		4.7
					312,626,950		9.4
		Industrial: 2.0%
	5,250,000	Lockheed Martin Corp., 2.500%-4.700%, 11/23/2020-05/15/2046			5,196,005		0.2
	60,204,000	Other Securities			59,964,153		1.8
					65,160,158		2.0
		Technology: 1.6%
	14,900,000	Apple, Inc., 2.100%-4.650%, 05/06/2019-02/23/2046			14,637,334		0.4
	400,000 (1)	Dell International LLC/EMC Corp., 3.480%, 06/01/2019			401,099		0.0
	400,000 (1)	Dell International LLC/EMC Corp., 4.420%, 06/15/2021			405,948		0.0
	400,000 (1)	Dell International LLC/EMC Corp., 5.450%, 06/15/2023			418,773		0.0
	400,000 (1)	Dell International LLC/EMC Corp., 6.020%, 06/15/2026			421,157		0.0
	400,000 (1)	Dell International LLC/EMC Corp., 8.350%, 07/15/2046			482,877		0.1
	5,550,000	International Business Machines Corp., 1.625%-3.450%, 05/15/2019-02/19/2026			5,465,190		0.2
	11,250,000	Microsoft Corp., 1.550%-4.875%, 08/08/2021-08/08/2056			11,263,750		0.3

See Accompanying Notes to Financial Statements

116

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Technology (continued)
	9,580,000	Oracle Corp., 1.900%-5.375%, 10/08/2019-05/15/2045		$	9,527,891		0.3
	10,589,000	Other Securities			10,457,952		0.3
					53,481,971		1.6
		Utilities: 2.1%
	3,668,000	Berkshire Hathaway Energy Co., 6.125%, 04/01/2036			4,531,106		0.1
	500,000	Duke Energy Carolinas LLC, 2.500%, 03/15/2023			482,599		0.0
	1,000,000	Duke Energy Florida LLC, 3.800%, 07/15/2028			1,006,458		0.0
	2,000,000	Duke Energy Corp., 1.800%-4.800%, 09/01/2021-09/01/2046			1,953,822		0.1
	2,900,000	Duke Energy Progress LLC, 3.700%-4.375%, 03/30/2044-10/15/2046			2,917,336		0.1
	250,000 (1)	Monongahela Power Co., 5.400%, 12/15/2043			296,461		0.0
	59,456,214 (2)	Other Securities			59,702,530		1.8
					70,890,312		2.1
		Total Corporate Bonds/Notes (Cost $973,230,673)			963,667,543		29.0
COLLATERALIZED MORTGAGE OBLIGATIONS: 0.1%
	1,872,266	Fannie Mae 2012-110 CA, 3.000%, 10/25/2042			1,829,663		0.1
	1,453,323	Fannie Mae REMIC Trust 2006-78 BZ, 6.500%, 08/25/2036			1,577,547		0.0
		Total Collateralized Mortgage Obligations (Cost $3,501,663)			3,407,210		0.1
MUNICIPAL BONDS: 1.0%
		California: 0.2%
	4,335,000	State of California, 7.550%, 04/01/2039			6,408,300		0.2
		Connecticut: 0.1%
	3,735,000	Other Securities			4,317,249		0.1
		New Jersey: 0.2%
	5,760,000	Other Securities			7,579,672		0.2
		New York: 0.2%
	3,495,000	Other Securities			4,701,509		0.2

Principal Amount†			Value			Percentage of Net Assets
MUNICIPAL BONDS: 1.0%
		Ohio: 0.2%
	3,355,000	Other Securities		$	5,060,850		0.2
		Washington: 0.1%
	3,900,000	Other Securities			4,654,728		0.1
		Total Municipal Bonds (Cost $26,930,746)			32,722,308		1.0
CONVERTIBLE BONDS/NOTES: 0.0%
		Financial: 0.0%
	500,000	Other Securities			499,917		0.0
		Total Convertible Bonds/Notes (Cost $500,750)			499,917		0.0
ASSET-BACKED SECURITIES: 0.6%
		Automobile Asset-Backed Securities: 0.3%
	820,000 (1)	Ford Credit Auto Owner Trust 2014-2 A, 2.310%, 04/15/2026			813,845		0.0
	1,000,000	GM Financial Automobile Leasing Trust 2017-1 A4, 2.260%, 08/20/2020			993,210		0.0
	1,000,000	GM Financial Automobile Leasing Trust 2018-1 B, 2.870%, 12/20/2021			993,468		0.1
	7,050,000	Other Securities			6,921,640		0.2
					9,722,163		0.3
		Credit Card Asset-Backed Securities: 0.2%
	1,500,000	American Express Credit Account Master Trust 2017-1 B, 2.100%, 09/15/2022			1,480,649		0.1
	1,000,000	American Express Credit Account Master Trust 2017-7 A, 2.350%, 05/15/2025			971,868		0.0
	1,000,000	Capital One Multi-Asset Execution Trust 2015-A2 A2, 2.080%, 03/15/2023			985,430		0.1
	1,000,000	Capital One Multi-Asset Execution Trust 2017-A3 A3, 2.430%, 01/15/2025			978,282		0.0
	500,000	Citibank Credit Card Issuance Trust 2014-A1 A1, 2.880%, 01/23/2023			498,822		0.0
	1,500,000	Other Securities			1,464,467		0.0
					6,379,518		0.2

See Accompanying Notes to Financial Statements

117

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Other Asset-Backed Securities: 0.1%
	1,650,000 (1)	Volvo Financial Equipment LLC Series 2017-1A A4, 2.210%, 11/15/2021		$	1,623,485		0.1
	350,166	Other Securities			346,803		0.0
					1,970,288		0.1
		Total Asset-Backed Securities (Cost $18,370,216)			18,071,969		0.6
U.S. GOVERNMENT AGENCY OBLIGATIONS: 28.0%
		Federal Home Loan Mortgage Corporation: 9.3%(5)
	30,831,805	3.000%, 05/01/2045			29,953,850		0.9
	28,405,220	3.500%, 04/01/2043			28,411,505		0.8
	30,138,041	3.500%, 02/01/2044			30,144,710		0.9
	39,916,000 (6)	3.500%, 07/01/2045			39,696,591		1.2
	2,057,728	3.820%, 02/01/2042			2,153,483		0.1
	49,928,000 (6)	4.000%, 07/01/2048			50,901,207		1.5
	125,803,998 (6)	3.000%-6.750%, 03/27/2019-07/01/2048			128,874,383		3.9
					310,135,729		9.3
		Federal National Mortgage Association: 10.4%(5)
	19,076,000 (6)	2.500%, 07/01/2030			18,540,440		0.6
	21,927,380	3.000%, 12/01/2042			21,436,973		0.6
	12,007,052	3.000%, 07/01/2043			11,731,114		0.3
	29,299,000 (6)	3.000%, 07/01/2048			28,376,539		0.8
	16,111,707	3.500%, 11/01/2042			16,137,185		0.5
	18,028,194	4.000%, 11/01/2040			18,522,905		0.6
	12,046,853	4.000%, 06/01/2045			12,344,984		0.4
	214,247,044 (6)	1.500%-7.250%, 09/01/2018-07/01/2048			220,220,238		6.6
					347,310,378		10.4
		Government National Mortgage Association: 7.2%
	84,719,000 (6)	3.000%, 07/01/2044			82,864,114		2.5
	12,584,671	3.500%, 12/20/2047			12,644,961		0.4
	14,247,992	3.500%, 01/20/2048			14,316,252		0.4
	67,490,000 (6)	3.500%, 07/01/2048			67,732,540		2.0
	58,980,945	3.500%-6.000%, 10/15/2036-06/20/2048			61,616,261		1.9
					239,174,128		7.2
		Other U.S. Agency Obligations: 1.1%
	22,990,000	1.100%, 11/06/2018			22,917,398		0.7
	11,510,000 (3)	1.875%-7.125%, 08/15/2022-01/15/2038			13,077,504		0.4
					35,994,902		1.1

Principal Amount†			Value			Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
		Total U.S. Government Agency Obligations (Cost $942,497,159)		$	932,615,137		28.0
U.S. TREASURY OBLIGATIONS: 41.0%
		U.S. Treasury Bonds: 6.2%
	50,201,000 (3)	3.000%, 02/15/2048			50,328,463		1.5
	33,645,000	3.500%, 02/15/2039			36,617,194		1.1
	13,888,000	3.625%, 08/15/2043			15,462,878		0.5
	14,092,000	3.625%, 02/15/2044			15,707,075		0.5
	13,251,000	3.750%, 11/15/2043			15,048,167		0.4
	73,570,000	2.250%-8.125%, 08/15/2019-08/15/2046			73,975,055		2.2
					207,138,832		6.2
		U.S. Treasury Notes: 34.8%
	27,497,000	1.000%, 08/31/2019			27,054,470		0.8
	29,467,000	1.250%, 11/30/2018			29,365,707		0.9
	13,040,000	1.250%, 10/31/2021			12,459,058		0.4
	16,756,000	1.375%, 09/30/2018			16,730,950		0.5
	20,000,000	1.375%, 01/15/2020			19,665,234		0.6
	37,540,000	1.375%, 04/30/2021			36,278,157		1.1
	19,814,000	1.500%, 12/31/2018			19,749,372		0.6
	11,925,000	1.500%, 01/31/2019			11,876,322		0.3
	19,814,000	1.625%, 07/31/2019			19,652,624		0.6
	12,097,000	1.625%, 08/31/2019			11,988,789		0.3
	24,847,000	1.625%, 02/15/2026			22,795,667		0.7
	22,705,000	1.750%, 09/30/2019			22,516,974		0.7
	18,000,000	1.750%, 09/30/2022			17,311,641		0.5
	24,900,000	2.000%, 11/30/2020			24,562,488		0.7
	12,097,000	2.000%, 02/28/2021			11,909,402		0.3
	17,133,000	2.000%, 11/15/2026			16,053,487		0.5
	20,498,000	2.125%, 01/31/2021			20,254,987		0.6
	20,000,000	2.125%, 05/15/2025			19,138,672		0.6
	26,457,000	2.250%, 11/15/2024			25,598,698		0.8
	19,590,000	2.375%, 12/31/2020			19,489,754		0.6
	19,404,000	2.500%, 06/30/2020			19,393,767		0.6
	109,770,000	2.625%, 06/30/2023			109,214,719		3.3
	26,255,000	2.750%, 02/15/2019			26,337,560		0.8
	36,569,500	2.750%, 11/15/2023			36,555,929		1.1
	42,052,000	2.750%, 02/15/2024			41,995,328		1.3
	86,990,000	2.750%, 06/30/2025			86,629,807		2.6
	59,068,000	2.875%, 05/15/2028			59,168,370		1.8
	380,630,000 (3)	0.750%-3.500%, 07/31/2018-11/15/2025			372,262,087		11.2
					1,156,010,020		34.8
		Total U.S. Treasury Obligations (Cost $1,372,730,073)			1,363,148,852		41.0

See Accompanying Notes to Financial Statements

118

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: 2.0%
	2,000,000 (1)		BAMLL Commercial Mortgage Securities Trust 2015-200P A, 3.218%, 04/14/2033		$	1,956,632		0.1
	3,000,000		Citigroup Commercial Mortgage Trust 2014-GC19 A4, 4.023%, 03/10/2047			3,089,811		0.1
	1,000,000	(1)(4)	COMM 2013-CR10 AM, 4.517%, 08/10/2046			1,039,129		0.0
	1,000,000	(1)(4)	Core Industrial Trust 2015-TEXW D, 3.977%, 02/10/2034			999,650		0.1
	1,000,000 (1)		Core Industrial Trust 2015-WEST A, 3.292%, 02/10/2037			980,231		0.0
	213,538	(1)(4)	DBUBS 2011-LC2A C, 5.719%, 07/10/2044			222,774		0.0
	2,000,000 (4)		Ginnia Mae 2011-20 C, 3.562%, 04/16/2041			1,994,427		0.1
	2,000,000 (4)		Ginnie Mae 2011-127 C, 3.500%, 03/16/2047			1,973,552		0.1
	6,000,000 (4)		Ginnie Mae 2011-142 B, 3.485%, 02/16/2044			5,953,306		0.2
	5,000,000 (4)		Ginnie Mae 2011-38 D, 3.700%, 01/16/2051			4,978,004		0.1
	196,537 (4)		Ginnie Mae 2011-53 B, 4.397%, 05/16/2051			200,218		0.0
	5,000,000		Ginnie Mae 2014-150 C, 3.400%, 12/16/2049			4,846,564		0.1
	3,000,000		Ginnie Mae 2014-50 C, 3.400%, 02/16/2047			2,891,064		0.1
	1,000,000 (4)		JP Morgan Chase Commercial Mortgage Securities Trust 2013-C13 B, 4.137%, 01/15/2046			1,007,028		0.0
	6,379,463		JP Morgan Chase Commercial Mortgage Securities Trust 2013-C16, 4.166%, 12/15/2046			6,590,459		0.2
	3,000,000		JPMDB Commercial Mortgage Securities Trust 2016-C2 A3A, 2.881%, 06/15/2049			2,849,107		0.1
	2,065,000 (1)		Ladder Capital Commercial Mortgage 2013-GCP A2 Mortgage Trust, 3.985%, 02/15/2036			2,062,419		0.1
	3,200,000		Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8 A4 A4, 3.134%, 12/15/2048			3,166,945		0.1

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 A4, 3.526%, 12/15/2047		$	1,991,807		0.1
	1,250,000 (4)		Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15 B, 4.565%, 04/15/2047			1,285,257		0.0
	220,000 (4)		Morgan Stanley Bank of America Merrill Lynch Trust 2015-C21 C, 4.299%, 03/15/2048			210,413		0.0
	100,000	(1)(4)	Morgan Stanley Capital I Trust 2011-C1 D, 5.599%, 09/15/2047			103,151		0.0
	100,000	(1)(4)	Morgan Stanley Capital I Trust 2011-C1 E, 5.599%, 09/15/2047			103,253		0.0
	1,000,000	(1)(4)	MSCG Trust 2015-ALDR A2, 3.577%, 06/07/2035			977,028		0.0
	2,350,000		Wells Fargo Commercial Mortgage Trust 2015-P2 A3, 3.541%, 12/15/2048			2,342,528		0.1
	2,000,000		Wells Fargo Commercial Mortgage Trust 2016-NXS5 A4, 3.370%, 01/15/2059			1,976,634		0.0
	11,465,000		Other Securities			11,557,803		0.3
			Total Commercial Mortgage-Backed Securities (Cost $70,113,996)			67,349,194		2.0
FOREIGN GOVERNMENT BONDS: 3.0%
	6,506,000		Asian Development Bank, 1.625%-2.125%, 03/16/2021-03/19/2025			6,308,613		0.2
	4,950,000		Colombia Government International Bond, 4.000%-7.375%, 02/26/2024-09/18/2037			5,438,250		0.2
	17,771,000 (3)		European Investment Bank, 1.125%-4.000%, 08/15/2019-03/15/2022			17,440,520		0.5
	1,000,000		Japan Bank for International Cooperation/ Japan, 1.750%, 05/28/2020			978,364		0.0
	5,000,000		Japan Bank for International Cooperation, 2.125%, 11/16/2020			4,903,389		0.2
	3,000,000 (1)		Kommunalbanken AS, 2.250%, 01/25/2022			2,930,632		0.1

See Accompanying Notes to Financial Statements

119

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
FOREIGN GOVERNMENT BONDS: (continued)
	1,800,000 (1)	Kommunalbanken AS, 2.500%, 01/11/2023		$	1,763,296		0.0
	1,000,000	Province of Ontario Canada, 1.875%, 05/21/2020			982,754		0.0
	13,308,000	Province of Ontario Canada, 4.400%, 04/14/2020			13,680,247		0.4
	44,644,000 (2)	Other Securities			46,550,104		1.4
		Total Foreign Government Bonds (Cost $102,435,811)			100,976,169		3.0
		Total Long-Term Investments (Cost $3,510,311,087)			3,482,458,299		104.7
SHORT-TERM INVESTMENTS: 10.0%
		Commercial Paper: 5.5%
	20,000,000	AT&T, Inc., 2.540%, 07/10/2018			19,986,097		0.6
	20,000,000	Autozone Inc D, 2.660%, 07/06/2018			19,991,250		0.6
	20,000,000	Concord Minute, 2.390%, 07/05/2018			19,993,453		0.6
	31,000,000	Consolidated E, 2.940%, 07/03/2018			30,992,515		0.9
	10,000,000	EASTMAN, 2.510%, 07/12/2018			9,991,767		0.3
	7,500,000	Harley Davison, 2.570%, 09/07/2018			7,463,790		0.2
	40,758,000	Johnson CTLS I, 3.280%, 07/02/2018			40,750,681		1.2
	15,000,000	Marriott Intl, 2.520%, 07/11/2018			14,988,625		0.5
	14,250,000	McDonalds, 2.540%, 07/10/2018			14,240,094		0.4
	5,000,000	NBC Universal, 2.470%, 07/19/2018			4,993,583		0.2
					183,391,855		5.5
		Securities Lending Collateral(7): 1.8%
	14,309,461	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.10%, due 07/02/18 (Repurchase Amount $14,311,931, collateralized by various U.S. Government Agency Obligations, 3.000%-4.500%, Market Value plus accrued interest $14,595,650, due 06/01/46-05/15/58)			14,309,461		0.5

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(7) (continued)
	14,309,461	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $14,312,143, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $14,595,653, due 11/15/42-08/15/44)		$	14,309,461		0.4
	2,913,373	MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $2,913,881, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $2,971,641, due 02/01/21-10/15/58)			2,913,373		0.1
	3,963,120	National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $3,963,775, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $4,042,383, due 09/06/18-09/09/49)			3,963,120		0.1
	10,346,341	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $10,347,999, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $10,553,298, due 01/31/20-09/09/49)			10,346,341		0.3

See Accompanying Notes to Financial Statements

120

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(7) (continued)
	14,309,461	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $14,312,166, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $14,595,757, due 07/15/19-02/15/48)		$	14,309,461		0.4
					60,151,217		1.8
		Mutual Funds: 2.7%
	89,378,000 (8)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $89,378,000)			89,378,000		2.7
		Total Short-Term Investments (Cost $332,943,575)			332,921,072		10.0
		Total Investments in Securities (Cost $3,843,254,662)		$	3,815,379,371		114.7
		Liabilities in Excess of Other Assets			(488,508,323)		(14.7)
		Net Assets		$	3,326,871,048		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

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)

The grouping contains securities on loan.

(3)

Security, or a portion of the security, is on loan.

(4)

Variable rate security. Rate shown is the rate in effect as of June 30, 2018.

(5)

The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies.

(6)

Settlement is on a when-issued or delayed-delivery basis.

(7)

Represents securities purchased with cash collateral received for securities on loan.

(8)

Rate shown is the 7-day yield as of June 30, 2018.

Reference Rate Abbreviations:

US0003M 3-month LIBOR

US0012M 12-month LIBOR

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Corporate Bonds/Notes		$	—		$	963,667,543		$	—		$	963,667,543
Collateralized Mortgage Obligations			—			3,407,210			—			3,407,210
Municipal Bonds			—			32,722,308			—			32,722,308
U.S. Treasury Obligations			—			1,363,148,852			—			1,363,148,852
Convertible Bonds/Notes			—			499,917			—			499,917
Commercial Mortgage-Backed Securities			—			67,349,194			—			67,349,194
U.S. Government Agency Obligations			—			932,615,137			—			932,615,137
Asset-Backed Securities			—			18,071,969			—			18,071,969
Foreign Government Bonds			—			100,976,169			—			100,976,169

See Accompanying Notes to Financial Statements

121

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Short-Term Investments			89,378,000			243,543,072			—			332,921,072
Total Investments, at fair value		$	172,242,114		$	3,643,137,257		$	—		$	3,815,379,371
Other Financial Instruments+
Futures			364			—			—			364
Total Assets		$	172,242,478		$	3,643,137,257		$	—		$	3,815,379,735

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

At June 30, 2018, the following futures contracts were outstanding for Voya U.S. Bond Index Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Short Contracts:
U.S. Treasury 2-Year Note		(6)		09/28/18		$	(1,270,969)		$	364
						$	(1,270,969)		$	364

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Asset Derivatives
Equity contracts	Net Assets — Unrealized appreciation*		$	364
Total Asset Derivatives			$	364

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Futures			Swaps			Total
Interest Rate Contracts		$	14,131		$	—		$	14,131
Credit Contracts			—			(720)			(720)
Total		$	14,131		$	(720)		$	13,411

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Interest Rate Contracts		$	(3,497)
Total		$	(3,497)

See Accompanying Notes to Financial Statements

122

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya U.S. Bond Index Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $3,849,241,609.
Net unrealized depreciation consisted of:
Gross Unrealized Appreciation	$	33,415,138
Gross Unrealized Depreciation		(67,277,012)
Net Unrealized Depreciation	$	(33,861,874)

See Accompanying Notes to Financial Statements

123

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Investment Adviser
Voya Investments, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258

Distributor
Voya Investments Distributor, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258

Transfer Agent
BNY Mellon Investment Servicing (U.S.) Inc.
301 Bellevue Parkway
Wilmington, Delaware 19809

Custodian
The Bank of New York Mellon
225 Liberty Street
New York, New York 10286

Legal Counsel
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02199

Before investing, carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract or variable life insurance policy and the underlying variable investment options. This and other information is contained in the prospectus for the variable annuity contract or variable life insurance policy and the underlying variable investment options. Obtain these prospectuses from your agent/registered representative and read them carefully before investing.

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Semi-Annual Report

June 30, 2018

Classes I and S

Domestic Equity Index Portfolios

■

Voya Index Plus LargeCap Portfolio

■

Voya Index Plus MidCap Portfolio

■

Voya Index Plus SmallCap Portfolio

TABLE OF CONTENTS

	President’s Letter					1
	Market Perspective					2
	Shareholder Expense Examples					4
	Statements of Assets and Liabilities					5
	Statements of Operations					6
	Statements of Changes in Net Assets					7
	Financial Highlights					9
	Notes to Financial Statements					11
	Summary Portfolio of Investments (“Portfolio of Investments”)					21

PROXY VOTING INFORMATION

QUARTERLY PORTFOLIO HOLDINGS

The Portfolios file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. This report contains a summary portfolio of investments for the Portfolios. The Portfolios’ Forms N-Q are available on the SEC’s website at www.sec.gov. The Portfolios’ Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC, and information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330. The Portfolios’ Forms N-Q, as well as a complete portfolio of investments, are available without charge upon request from the Portfolios by calling Shareholder Services toll-free at (800) 992-0180.

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PRESIDENT’S LETTER

Mid-Year Outlook

Dear Shareholder,

Sincerely,

Dina Santoro
President
Voya Family of Funds
July 19, 2018

International investing poses special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic.

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Market Perspective: Six Months Ended June 30, 2018

Still, the underlying U.S. economy remained strong. In April the unemployment rate broke below 4% and in June it was reported at

In March and June the FOMC duly raised rates, with two more increases now projected for 2018.

So June ended with the aura of synchronized global growth fading fast and what was left of it threatened by a trade war, from which surely no-one could expect any lasting benefit.

All indices are unmanaged and investors cannot invest directly in an index. Past performance does not guarantee future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. The Portfolios’ performance is subject to change since the period’s end and may be lower or higher than the performance data shown. Please call (800) 992-0180 or log on to www.voyainvestments.com to obtain performance data current to the most recent month end.

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Benchmark Descriptions

		Index				Description
		Bloomberg Barclays U.S. Aggregate Bond Index				An index of publicly issued investment grade U.S. government, mortgage-backed, asset-backed and corporate debt securities.
		Bloomberg Barclays U.S. Corporate Investment Grade Bond Index				An index consisting of publicly issued, fixed rate, nonconvertible, investment grade debt securities.
		MSCI Europe ex UK® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK.
		MSCI Japan® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan.
		MSCI UK® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK.
		MSCI World IndexSM				An index that measures the performance of over 1,600 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East.
		S&P 500® Index				An index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major U.S. stock markets.

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SHAREHOLDER EXPENSE EXAMPLES (Unaudited)

The Examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from January 1, 2018 to June 30, 2018. The Portfolios’ expenses are shown without the imposition of any charges which are, or may be, imposed under your variable annuity contract, variable life insurance policy, qualified pension or retirement plan. Expenses would have been higher if such charges were included.

Actual Expenses

Hypothetical Example for Comparison Purposes

	Actual Portfolio Return											Hypothetical (5% return before expenses)
	Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio		Expenses Paid During the Period Ended June 30, 2018*			Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio		Expenses Paid During the Period Ended June 30, 2018*
Voya Index Plus LargeCap Portfolio
Class I		$	1,000.00		$	1,006.70		0.49%		$	2.44		$	1,000.00		$	1,022.36		0.49%		$	2.46
Class S			1,000.00			1,005.30		0.74			3.68			1,000.00			1,021.12		0.74			3.71
Voya Index Plus MidCap Portfolio
Class I		$	1,000.00		$	1,012.70		0.55%		$	2.74		$	1,000.00		$	1,022.07		0.55%		$	2.76
Class S			1,000.00			1,011.80		0.80			3.99			1,000.00			1,020.83		0.80			4.01
Voya Index Plus SmallCap Portfolio
Class I		$	1,000.00		$	1,069.70		0.55%		$	2.82		$	1,000.00		$	1,022.07		0.55%		$	2.76
Class S			1,000.00			1,068.10		0.80			4.10			1,000.00			1,020.83		0.80			4.01

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STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited)

	Voya Index Plus LargeCap Portfolio			Voya Index Plus MidCap Portfolio			Voya Index Plus SmallCap Portfolio
ASSETS:
Investments in securities at fair value+*		$	893,696,784		$	600,534,915		$	296,580,467
Short-term investments at fair value**			6,133,000			22,121,788			18,984,023
Cash			543,246			394,538			127,054
Cash collateral for futures			313,220			277,117			134,550
Receivables:
Fund shares sold			221,942			5,563			4,972
Dividends			590,418			725,045			251,824
Interest			—			22			31
Prepaid expenses			8,484			6,233			2,890
Other assets			85,793			58,124			29,406
Total assets			901,592,887			624,123,345			316,115,217
LIABILITIES:
Payable for fund shares redeemed			3,532,345			377,279			208,379
Payable upon receipt of securities loaned			—			16,452,788			15,243,023
Payable for investment management fees			340,645			255,092			126,239
Payable for distribution and shareholder service fees			19,400			17,463			13,740
Payable for directors fees			4,418			3,153			1,490
Payable to directors under the deferred compensation plan (Note 6)			85,793			58,124			29,406
Other accrued expenses and liabilities			125,227			145,158			66,776
Total liabilities			4,107,828			17,309,057			15,689,053
NET ASSETS		$	897,485,059		$	606,814,288		$	300,426,164
NET ASSETS WERE COMPRISED OF:
Paid-in capital		$	706,232,911		$	512,971,388		$	230,230,156
Undistributed net investment income			6,127,936			3,354,850			1,216,152
Accumulated net realized gain			27,199,327			31,184,721			17,210,028
Net unrealized appreciation			157,924,885			59,303,329			51,769,828
NET ASSETS		$	897,485,059		$	606,814,288		$	300,426,164
+ Including securities loaned at value		$	—		$	16,032,604		$	14,868,851
* Cost of investments in securities		$	735,763,658		$	541,171,755		$	244,774,027
** Cost of short-term investments		$	6,133,000		$	22,121,788		$	18,984,023
Class I
Net assets		$	805,243,476		$	523,489,125		$	235,093,862
Shares authorized			200,000,000			100,000,000			100,000,000
Par value		$	0.001		$	0.001		$	0.001
Shares outstanding			30,250,800			25,714,650			9,458,577
Net asset value and redemption price per share		$	26.62		$	20.36		$	24.86
Class S
Net assets		$	92,241,583		$	83,325,163		$	65,332,302
Shares authorized			100,000,000			100,000,000			100,000,000
Par value		$	0.001		$	0.001		$	0.001
Shares outstanding			3,490,762			4,158,388			2,658,638
Net asset value and redemption price per share		$	26.42		$	20.04		$	24.57

See Accompanying Notes to Financial Statements

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STATEMENTS OF OPERATIONS for the six months ended June 30, 2018 (Unaudited)

	Voya Index Plus LargeCap Portfolio			Voya Index Plus MidCap Portfolio			Voya Index Plus SmallCap Portfolio
INVESTMENT INCOME:
Dividends, net of foreign taxes withheld*		$	8,473,023		$	5,128,927		$	1,936,151
Interest			1,563			953			784
Securities lending income, net			9,439			37,642			91,163
Settlement income (Note 12)			—			—			119,407
Other			43,306			73,108			—
Total investment income			8,527,331			5,240,630			2,147,505
EXPENSES:
Investment management fees			1,971,607			1,563,550			738,836
Distribution and shareholder service fees:
Class S			119,185			106,360			81,119
Transfer agent fees			479			336			211
Shareholder reporting expense			27,150			23,530			15,747
Professional fees			29,865			22,444			12,851
Custody and accounting expense			41,630			39,820			17,195
Directors fees			17,671			12,612			5,960
License fee			43,816			31,273			14,778
Miscellaneous expense			11,870			9,850			6,926
Interest expense			18			1,997			13
Total expenses			2,263,291			1,811,772			893,636
Net expenses			2,263,291			1,811,772			893,636
Net investment income			6,264,040			3,428,858			1,253,869
REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments			28,284,182			32,161,504			17,318,708
Futures			(339,153)			76,498			326,039
Net realized gain			27,945,029			32,238,002			17,644,747
Net change in unrealized appreciation (depreciation) on:
Investments			(26,758,010)			(27,529,349)			1,247,006
Futures			(9,395)			(151,767)			(37,658)
Net change in unrealized appreciation (depreciation)			(26,767,405)			(27,681,116)			1,209,348
Net realized and unrealized gain			1,177,624			4,556,886			18,854,095
Increase in net assets resulting from operations		$	7,441,664		$	7,985,744		$	20,107,964
* Foreign taxes withheld		$	165		$	—		$	966

See Accompanying Notes to Financial Statements

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STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Index Plus LargeCap Portfolio						Voya Index Plus MidCap Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	6,264,040		$	12,817,109		$	3,428,858		$	6,018,081
Net realized gain			27,945,029			71,905,513			32,238,002			71,511,360
Net change in unrealized appreciation (depreciation)			(26,767,405)			97,504,637			(27,681,116)			5,017,364
Increase in net assets resulting from operations			7,441,664			182,227,259			7,985,744			82,546,805
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class I			(12,128,610)			(11,620,498)			(5,405,458)			(7,347,533)
Class S			(1,131,563)			(1,432,141)			(616,011)			(1,042,875)
Net realized gains:
Class I			(63,951,109)			(13,314,297)			(61,551,115)			(35,337,304)
Class S			(7,337,556)			(1,942,904)			(9,747,640)			(6,230,786)
Total distributions			(84,548,838)			(28,309,840)			(77,320,224)			(49,958,498)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			79,386,392			33,191,342			4,525,383			16,226,066
Reinvestment of distributions			84,548,838			28,309,840			77,320,224			49,958,498
			163,935,230			61,501,182			81,845,607			66,184,564
Cost of shares redeemed			(63,748,430)			(123,408,714)			(53,585,969)			(116,080,775)
Net increase (decrease) in net assets resulting from capital share transactions			100,186,800			(61,907,532)			28,259,638			(49,896,211)
Net increase (decrease) in net assets			23,079,626			92,009,887			(41,074,842)			(17,307,904)
NET ASSETS:
Beginning of year or period			874,405,433			782,395,546			647,889,130			665,197,034
End of year or period		$	897,485,059		$	874,405,433		$	606,814,288		$	647,889,130
Undistributed net investment income at end of year or period		$	6,127,936		$	13,124,069		$	3,354,850		$	5,947,461

See Accompanying Notes to Financial Statements

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STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Index Plus SmallCap Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	1,253,869		$	2,364,998
Net realized gain			17,644,747			36,712,740
Net change in unrealized appreciation (depreciation)			1,209,348			(10,894,650)
Increase in net assets resulting from operations			20,107,964			28,183,088
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class I			(1,988,482)			(2,087,309)
Class S			(377,802)			(473,519)
Net realized gains:
Class I			(28,874,392)			(19,997,489)
Class S			(8,124,745)			(6,351,708)
Total distributions			(39,365,421)			(28,910,025)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			6,057,424			13,519,968
Reinvestment of distributions			39,365,421			28,910,025
			45,422,845			42,429,993
Cost of shares redeemed			(22,735,519)			(70,891,173)
Net increase (decrease) in net assets resulting from capital share transactions			22,687,326			(28,461,180)
Net increase (decrease) in net assets			3,429,869			(29,188,117)
NET ASSETS:
Beginning of year or period			296,996,295			326,184,412
End of year or period		$	300,426,164		$	296,996,295
Undistributed net investment income at end of year or period		$	1,216,152		$	2,328,567

See Accompanying Notes to Financial Statements

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Financial Highlights (Unaudited)

Selected data for a share of beneficial interest outstanding throughout each year or period.

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Index Plus LargeCap Portfolio
Class I
06-30-18		29.11		0.21•		0.00*		0.21		0.43		2.27		—		2.70		—		26.62		0.67		0.49		0.49		0.49		1.46		805,243		25
12-31-17		24.19		0.42•		5.41		5.83		0.42		0.49		—		0.91		—		29.11		24.64		0.48		0.46		0.46		1.58		774,135		56
12-31-16		22.32		0.42•		1.83		2.25		0.38		—		—		0.38		—		24.19		10.27		0.49		0.44		0.44		1.85		678,267		96
12-31-15		22.48		0.39•		(0.19)		0.20		0.36		—		—		0.36		—		22.32		0.84		0.49		0.44		0.44		1.74		565,257		66
12-31-14		20.05		0.33•		2.41		2.74		0.31		—		—		0.31		—		22.48		13.86		0.44		0.44		0.44		1.58		639,454		72
12-31-13		15.37		0.28•		4.72		5.00		0.32		—		—		0.32		—		20.05		32.92		0.44		0.44		0.44		1.60		601,491		80
Class S
06-30-18		28.87		0.17•		0.00*		0.17		0.35		2.27		—		2.62		—		26.42		0.53		0.74		0.74		0.74		1.20		92,242		25
12-31-17		24.00		0.35•		5.37		5.72		0.36		0.49		—		0.85		—		28.87		24.30		0.73		0.71		0.71		1.33		100,271		56
12-31-16		22.14		0.36•		1.82		2.18		0.32		—		—		0.32		—		24.00		9.99		0.74		0.69		0.69		1.59		104,129		96
12-31-15		22.29		0.33•		(0.18)		0.15		0.30		—		—		0.30		—		22.14		0.63		0.74		0.69		0.69		1.49		109,690		66
12-31-14		19.89		0.28•		2.38		2.66		0.26		—		—		0.26		—		22.29		13.54		0.69		0.69		0.69		1.33		129,744		72
12-31-13		15.24		0.24•		4.68		4.92		0.27		—		—		0.27		—		19.89		32.67		0.69		0.69		0.69		1.35		136,884		80
Voya Index Plus MidCap Portfolio
Class I
06-30-18		22.95		0.12•		0.15		0.27		0.23		2.63		—		2.86		—		20.36		1.27		0.55		0.55		0.55		1.13		523,489		28
12-31-17		21.87		0.21•		2.62		2.83		0.30		1.45		—		1.75		—		22.95		13.58		0.53		0.51		0.51		0.96		559,342		75
12-31-16		20.74		0.23		3.18		3.41		0.22		2.06		—		2.28		—		21.87		18.14		0.54		0.49		0.49		1.11		561,057		99
12-31-15		24.58		0.22		(0.45)		(0.23)		0.23		3.38		—		3.61		—		20.74		(1.79)		0.54		0.49		0.49		0.94		513,583		90
12-31-14		23.62		0.21•		1.95		2.16		0.19		1.01		—		1.20		—		24.58		9.56		0.49		0.49		0.49		0.89		577,230		72
12-31-13		17.76		0.17•		5.92		6.09		0.23		—		—		0.23		—		23.62		34.56		0.49		0.49		0.49		0.81		588,001		66
Class S
06-30-18		22.59		0.10•		0.15		0.25		0.17		2.63		—		2.80		—		20.04		1.18		0.80		0.80		0.80		0.88		83,325		28
12-31-17		21.55		0.15•		2.58		2.73		0.24		1.45		—		1.69		—		22.59		13.29		0.78		0.76		0.76		0.71		88,547		75
12-31-16		20.46		0.19		3.12		3.31		0.16		2.06		—		2.22		—		21.55		17.83		0.79		0.74		0.74		0.86		104,140		99
12-31-15		24.29		0.15•		(0.44)		(0.29)		0.16		3.38		—		3.54		—		20.46		(2.06)		0.79		0.74		0.74		0.69		102,389		90
12-31-14		23.35		0.15•		1.93		2.08		0.13		1.01		—		1.14		—		24.29		9.30		0.74		0.74		0.74		0.63		123,119		72
12-31-13		17.56		0.12•		5.85		5.97		0.18		—		—		0.18		—		23.35		34.23		0.74		0.74		0.74		0.56		135,017		66
Voya Index Plus SmallCap Portfolio
Class I
06-30-18		26.78		0.12•		1.65		1.77		0.24		3.45		—		3.69		—		24.86		6.97(a)		0.55		0.55		0.55		0.90(b)		235,094		24
12-31-17		26.91		0.22•		2.25		2.47		0.25		2.35		—		2.60		—		26.78		9.91		0.54		0.52		0.52		0.83		231,351		65
12-31-16		21.97		0.23		5.57		5.80		0.20		0.66		—		0.86		—		26.91		27.32		0.55		0.50		0.50		0.95		243,530		60
12-31-15		22.90		0.19•		(0.92)		(0.73)		0.20		—		—		0.20		—		21.97		(3.21)		0.55		0.50		0.50		0.81		199,425		46
12-31-14		21.86		0.18•		1.00		1.18		0.14		—		—		0.14		—		22.90		5.44		0.50		0.50		0.50		0.84		226,277		40
12-31-13		15.48		0.13•		6.43		6.56		0.18		—		—		0.18		—		21.86		42.70		0.49		0.49		0.49		0.70		243,564		55
Class S
06-30-18		26.47		0.08•		1.63		1.71		0.16		3.45		—		3.61		—		24.57		6.81(a)		0.80		0.80		0.80		0.65(b)		65,332		24
12-31-17		26.63		0.15•		2.22		2.37		0.18		2.35		—		2.53		—		26.47		9.60		0.79		0.77		0.77		0.58		65,645		65
12-31-16		21.74		0.16•		5.53		5.69		0.14		0.66		—		0.80		—		26.63		27.01		0.80		0.75		0.75		0.70		82,654		60
12-31-15		22.66		0.13•		(0.91)		(0.78)		0.14		—		—		0.14		—		21.74		(3.47)		0.80		0.75		0.75		0.55		75,891		46
12-31-14		21.62		0.13•		1.00		1.13		0.09		—		—		0.09		—		22.66		5.24		0.75		0.75		0.75		0.59		92,574		40
12-31-13		15.32		0.08•		6.36		6.44		0.14		—		—		0.14		—		21.62		42.28		0.74		0.74		0.74		0.45		106,112		55

(1)

See Accompanying Notes to Financial Statements

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Financial Highlights (Unaudited) (continued)

(2)

Annualized for periods less than one year.

(3)

(4)

Ratios do not include fees and expenses charged under the variable annuity contract or variable life insurance policy.

(a)

Excluding amounts related to a securities lending settlement recorded in the period ended June 30, 2018, Voya Index Plus SmallCap Portfolio’s total returns would have been 6.93% and 6.77% for Class I and S, respectively.

(b)

Excluding amounts related to a securities lending settlement recorded in the period ended June 30, 2018, Voya Index Plus SmallCap Portfolio’s Net Investment Income Ratios would have been 0.82% and 0.57% for Class I and S, respectively.

•

Calculated using average number of shares outstanding throughout the year or period.

Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%.

See Accompanying Notes to Financial Statements

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited)

NOTE 1 — ORGANIZATION

The classes of shares included in this report are: Class I and Class S. With the exception of class specific matters, each class has equal voting rights as to voting privileges. For class specific proposals, only the applicable class would have voting privileges. The classes differ principally in the applicable distribution and shareholder service fees. Generally, shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a portfolio and earn income and realized gains/losses from a portfolio pro rata based on the daily ending net assets of each class, without distinction between share classes. Expenses that are specific to a portfolio or a class are charged directly to that portfolio or class. Other operating expenses shared by several portfolios are generally allocated among those portfolios based on average net assets. Distributions are determined separately for each class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class pro rata based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally result from differences in separate class expenses, including distribution and shareholder service fees, if applicable.

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies are consistently followed by the Portfolios in the preparation of

their financial statements. Each Portfolio is considered an investment company under the U.S. generally accepted accounting principles (“GAAP”) and follows the accounting and reporting guidance applicable to investment companies.

Assets for which market quotations are readily available are valued at market value. A security listed or traded on an exchange is valued at its last sales price or official closing price as of the close of the regular trading session on the exchange where the security is principally traded or, if such price is not available, at the last sale price as of the Market Close for such security provided by the CTA. Bank loans are valued at the average of the averages of the bid and ask prices provided to an independent loan pricing service by brokers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and ask prices from the exchange on which they are principally traded. Investments in open-end registered investment companies that do not trade on an exchange are valued at the end of day NAV per share. Investments in registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the regular trading session on the exchange where the security is principally traded.

When a market quotation is not readily available or is deemed unreliable, each Portfolio will determine a fair

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

value for the relevant asset in accordance with procedures adopted by the Portfolios’ Board of Directors (“Board”). Such procedures provide, for example, that: (a) Exchange-traded securities are valued at the mean of the closing bid and ask; (b) Debt obligations are valued using an evaluated price provided by an independent pricing service. Evaluated prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect factors such as institution-size trading in similar groups of securities, developments related to specific securities, benchmark yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data; (c) Securities traded in the over-the-counter (“OTC”) market are valued based on prices provided by independent pricing services or market makers; (d) Options not listed on an exchange are valued by an independent source using an industry accepted model, such as Black-Scholes; (e) Centrally cleared swap agreements are valued using a price provided by the central counterparty clearinghouse; (f) OTC swap agreements are valued using a price provided by an independent pricing service; (g) Forward foreign currency exchange contracts are valued utilizing current and forward rates obtained from an independent pricing service. Such prices from the third party pricing service are for specific settlement periods and each Portfolio’s forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent period reported by the independent pricing service; and (h) Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by brokers.

value will be valued by the independent pricing service using pricing models designed to estimate likely changes in the values of those securities between the times in which the trading in those securities is substantially completed and Market Close. Multiple factors may be considered by the independent pricing service in determining the value of such securities and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures.

Each investment asset or liability of the Portfolios is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as “Level 1,” inputs other than quoted prices for an asset or liability that are observable are classified as “Level 2” and significant unobservable inputs, including the Sub-Adviser’s or Pricing Committee’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing each

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

Portfolio’s investments under these levels of classification is included following the Portfolio of Investments.

GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. The beginning of period timing recognition is used for the transfers between levels of a Portfolio’s assets and liabilities. A reconciliation of Level 3 investments is presented only when a Portfolio has a significant amount of Level 3 investments.

C. Foreign Currency Translation. The books and records of the Portfolios are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

(1)

Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at Market Close.

(2)

Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on

securities transactions, the difference between the amounts of dividends, interest, and foreign withholding tax reclaims recorded on a Portfolio’s books, and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities, resulting from changes in the exchange rate. Foreign security and currency transactions may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, revaluation of currencies and future adverse political and economic developments which could cause securities and their markets to be less liquid and prices more volatile than those of comparable U.S. companies and U.S. government securities.

D. Distributions to Shareholders. The Portfolios record distributions to their shareholders on the ex-dividend date. Dividends from net investment income and capital gain distributions, if any, are declared and paid annually by the Portfolios. The Portfolios may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.

E. Federal Income Taxes. It is the policy of each Portfolio to comply with subchapter M of the Internal Revenue Code and related excise tax provisions applicable to regulated investment companies and to distribute substantially all of its net investment income and any net realized capital gains to its shareholders. Therefore, no federal income tax provision is required. Management has considered the sustainability of the Portfolios’ tax positions taken on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until any capital loss carryforwards have been fully utilized or expire.

The Portfolios may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

G. Risk Exposures and the Use of Derivative Instruments. Each Portfolio’s investment strategies permit it to enter into various types of derivatives contracts, including, but not limited to, futures contracts. In doing so, a Portfolio will employ strategies in differing combinations to permit it to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow a Portfolio to pursue its objectives more quickly and efficiently than if it were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.

In pursuit of its investment objectives, a Portfolio may seek to increase or decrease its exposure to the following market or credit risk factors:

Equity Risk. Stock prices may be volatile or have reduced liquidity in response to real or perceived impacts of factors including, but not limited to, economic conditions, changes in market interest rates, and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to costs and impair the ability of a Portfolio to achieve its investment objectives.

expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Portfolio to the risk of improper valuation.

The U.S. government has enacted legislation that provides for new regulation of the derivatives market, including clearing, margin, reporting, and registration requirements. The European Union is (and other countries outside of the European Union are) implementing similar requirements, which will affect a Portfolio when it enters into a derivatives transaction with a counterparty organized in that country or otherwise subject to that country’s derivatives regulations. Because these requirements are new and evolving (and some of the rules are not yet final), their ultimate impact remains unclear. Central clearing is expected to reduce counterparty risk and increase liquidity, however, there is no assurance that it will achieve that result, and in the meantime, central clearing and related requirements expose a Portfolio to new kinds of costs and risks.

H. Foreign Currency Transactions and Futures Contracts. Each Portfolio may enter into foreign currency exchange transactions to convert to and from different foreign currencies and to and from the U.S. dollar in connection with the planned purchases or sales of securities. When entering into a currency forward contract, a Portfolio agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed upon date. The Portfolios either enter into these transactions on a spot basis at the spot rate prevailing in

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

the foreign currency exchange market or use forward foreign currency contracts to purchase or sell foreign currencies. When the contract is fulfilled or closed, gains or losses are realized. Until then, the gain or loss is included in unrealized appreciation or depreciation. Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their forward contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar. There were no forward foreign currency contracts entered into by any Portfolio during the period ended June 30, 2018.

Each Portfolio may enter into futures contracts involving foreign currency, interest rates, securities and security indices. A futures contract is a commitment to buy or sell a specific amount of a financial instrument at a negotiated price on a stipulated future date. Each Portfolio may buy and sell futures contracts. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as reported by such principal exchange at its trading session ending at, or most recently prior to, the time when the Portfolio’s assets are valued.

Upon entering into a futures contract, each Portfolio is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by the Portfolio each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses. Open futures contracts are reported on a table following each Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts are footnoted in the Portfolio of Investments, if any. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in each Portfolio’s Statement of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in each Portfolio’s Statement of Operations. Realized gains (losses) are reported in each Portfolio’s Statement of Operations at the closing or expiration of futures contracts.

Futures contracts are exposed to the market risk factor of the underlying financial instrument. During the six months ended June 30, 2018, each Portfolio had purchased futures contracts on various equity indices to “equitize” cash. Futures contracts are purchased to provide immediate market exposure proportionate to the size of the Portfolio’s respective cash flows and residual cash balances in order to decrease potential tracking error if the

cash remained uninvested in the market. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where the Portfolios are unable to liquidate the contract or enter into an offsetting position and, if used for hedging purposes, the risk that the price of the contract will correlate imperfectly with the prices of the Portfolios’ securities. With futures, there is minimal counterparty credit risk to the Portfolios since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.

During the six months ended June 30, 2018, Index Plus LargeCap, Index Plus MidCap, and Index Plus SmallCap had average notional values on futures contracts purchased of $3,981,630, $6,614,283 and $2,971,162, respectively. Please refer to the tables following each respective Portfolio of Investments for open futures contracts at June 30, 2018.

I. Securities Lending. Each Portfolio may temporarily loan up to 331∕3% of its total assets to brokers, dealers or other financial institutions in exchange for a negotiated lender’s fee. Securities lending involves two primary risks: “investment risk” and “borrower default risk.” When lending securities, the Portfolios will receive cash or U.S. government securities as collateral. Investment risk is the risk that the Portfolios will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolios will lose money due to the failure of a borrower to return a borrowed security. Loans are subject to termination at the option of the borrower or the Portfolios. Securities lending may result in leverage. The use of leverage may exaggerate any increase or decrease in the NAV, causing the Portfolios to be more volatile. The use of leverage may increase expenses and increase the impact of the Portfolios’ other risks.

J. Restricted Securities. Each Portfolio may invest in restricted securities, which include those sold under Rule 144A of the Securities Act of 1933, as amended (“1933 Act”) or securities offered pursuant to Section 4(a)(2) of the 1933 Act, and/or are subject to legal or contractual restrictions on resale and may not be publicly sold without registration under the 1933 Act. Restricted securities are fair valued using market quotations when readily available. In the absence of market quotations, the securities are valued based upon their fair value determined in good faith under procedures approved by the Board.

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

may be neither listed on an exchange nor traded in other established markets. Many times these securities are subject to legal or contractual restrictions on resale. As a result of the absence of a public trading market, the prices of these securities may be more volatile, less liquid and more difficult to value than publicly traded securities. The price realized from the sale of these securities could be less than the amount originally paid or less than their fair value if they are resold in privately negotiated transactions. In addition, these securities may not be subject to disclosure and other investment protection requirements that are afforded to publicly traded securities. Certain investments may include investment in smaller, less seasoned issuers, which may involve greater risk.

K. Indemnifications. In the normal course of business, the Company may enter into contracts that provide certain indemnifications. The Company’s maximum exposure under these arrangements is dependent on future claims that may be made against the Portfolios and, therefore, cannot be estimated; however, based on experience, management considers the risk of loss from such claims remote.

NOTE 3 — INVESTMENT TRANSACTIONS

For the six months ended June 30, 2018, the cost of purchases and the proceeds from the sale of securities, excluding short-term securities, were as follows:

	Purchases			Sales
Index Plus LargeCap		$	243,419,849		$	218,496,996
Index Plus MidCap			176,542,713			217,142,174
Index Plus SmallCap			70,221,211			87,822,357

NOTE 4 — INVESTMENT MANAGEMENT FEES

The Portfolios have entered into an investment management agreement (“Management Agreement”) with the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Portfolios. The Investment Adviser oversees all investment management and portfolio management services for the Portfolios and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Portfolios, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. This Management Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, based on the average daily net assets of each Portfolio, at the following annual rates:

	Index Plus LargeCap			0.45%
	Index Plus MidCap			0.50%
	Index Plus SmallCap			0.50%

NOTE 5 — DISTRIBUTION FEES

Class S shares of the Portfolios have a shareholder services and distribution plan (the “Plan”), whereby the Distributor is compensated by each Portfolio for expenses incurred for shareholder servicing and/or the distribution of each Portfolio’s Class S shares. Pursuant to the Plan, the Distributor is entitled to a payment each month to compensate for expenses incurred in the distribution and promotion of each Portfolio’s Class S shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any distribution or shareholder servicing fees paid to securities dealers who have executed a distribution agreement with the Distributor. Under the Plan, Class S shares of the Portfolios pay the Distributor a fee calculated at an annual rate of 0.25% of average daily net assets.

NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES

At June 30, 2018, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. or affiliated investment company owned more than 5% of the following Portfolios:

Subsidiary/Affiliated Investment Company	Portfolio	Percentage
ReliaStar Life Insurance Company	Index Plus SmallCap		5.31%
Voya Insurance and Annuity Company	Index Plus LargeCap		9.76
	Index Plus MidCap		12.62
	Index Plus SmallCap		20.15
Voya Retirement Insurance and Annuity Company	Index Plus LargeCap		62.52
	Index Plus MidCap		79.19
	Index Plus SmallCap		69.48
Voya Solution 2045 Portfolio	Index Plus LargeCap		5.43

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)

The Portfolios have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent directors, as described in the DC Plan, to defer the receipt of all or a portion of the directors’ fees that they are entitled to receive from the Portfolios. For purposes of determining the amount owed to the director under the DC Plan, the amounts deferred are invested in shares of the funds selected by the director (the “Notional Funds”). The Portfolios purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the directors’ deferred fees, resulting in a Portfolio asset equal to the deferred compensation liability. Such assets, if applicable, are included as a component of “Other assets” on the accompanying Statements of Assets and Liabilities. Deferral of directors’ fees under the DC Plan will not affect net assets of the Portfolio, and will not materially affect the Portfolios’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.

NOTE 7 — LICENSING FEE

Effective January 1, 2018, S&P Opco, LLC receives an annual licensing fee from the Portfolios.

NOTE 8 — EXPENSE LIMITATION AGREEMENT

The Investment Adviser has entered into a written expense limitation agreement (“Expense Limitation Agreement”) with each Portfolio whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and acquired fund fees and expenses to the levels listed below:

Portfolio	Class I		Class S
Index Plus LargeCap		0.55%		0.80%
Index Plus MidCap		0.60%		0.85%
Index Plus SmallCap		0.60%		0.85%

The Investment Adviser may at a later date recoup from a Portfolio for fees waived and/or other expenses reimbursed

by the Investment Adviser during the previous 36 months, but only if, after such recoupment, a Portfolio’s expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.

As of June 30, 2018, the Portfolios did not have any amount of waived and/or reimbursed fees that would be subject to possible recoupment by the Investment Adviser.

The Expense Limitation Agreement is contractual through May 1, 2019 (except for Index Plus LargeCap, which is through May 1, 2020) and shall renew automatically for one-year terms. Termination or modification of this obligation requires approval by the Board.

NOTE 9 — LINE OF CREDIT

Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.

The following Portfolios utilized the line of credit during the six months ended June 30, 2018:

Portfolio			Days Utilized						Approximate Average Daily Balance For Days Utilized						Approximate Weighted Average Interest Rate For Days Utilized
Index Plus MidCap					4					$	6,548,750						2.70%

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 10 — CAPITAL SHARES

Transactions in capital shares and dollars were as follows:

	Shares sold		Shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease) in shares outstanding		Shares sold		Proceeds from shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease)
Year or period ended	#		#		#		#		#		($)		($)		($)		($)		($)
Index Plus LargeCap
Class I
6/30/2018		2,753,060		—		2,840,916		(1,934,699)		3,659,277		78,978,962		—		76,079,719		(54,734,986)		100,323,695
12/31/2017		1,248,173		—		980,913		(3,671,316)		(1,442,230)		32,728,145		—		24,934,795		(96,509,424)		(38,846,484)
Class S
6/30/2018		13,676		—		318,388		(313,996)		18,068		407,430		—		8,469,119		(9,013,444)		(136,895)
12/31/2017		18,104		—		133,612		(1,017,345)		(865,629)		463,197		—		3,375,045		(26,899,290)		(23,061,048)
Index Plus MidCap
Class I
6/30/2018		178,208		—		3,311,403		(2,149,448)		1,340,163		4,052,662		—		66,956,574		(46,930,342)		24,078,894
12/31/2017		654,062		—		2,008,322		(3,946,704)		(1,284,320)		14,633,990		—		42,684,837		(87,037,517)		(29,718,690)
Class S
6/30/2018		21,059		—		520,525		(302,103)		239,481		472,721		—		10,363,650		(6,655,627)		4,180,744
12/31/2017		73,006		—		346,963		(1,333,343)		(913,374)		1,592,076		—		7,273,661		(29,043,258)		(20,177,521)
Index Plus SmallCap
Class I
6/30/2018		209,194		—		1,273,746		(663,956)		818,984		5,389,989		—		30,862,874		(17,444,676)		18,808,187
12/31/2017		476,912		—		889,082		(1,774,760)		(408,766)		12,650,997		—		22,084,798		(46,540,504)		(11,804,709)
Class S
6/30/2018		25,376		—		354,864		(201,322)		178,918		667,435		—		8,502,547		(5,290,843)		3,879,139
12/31/2017		33,633		—		277,448		(935,145)		(624,064)		868,971		—		6,825,227		(24,350,669)		(16,656,471)

NOTE 11 — SECURITIES LENDING

Under a Master Securities Lending Agreement (the “Agreement”) with BNY, the Portfolios can lend their securities to approved brokers, dealers and other financial institutions. Loans are collateralized by cash and U.S. government securities. The collateral must be equal to at least 105% of the market value of non-U.S. securities loaned and 102% of the market value of U.S. securities loaned. The market value of the loaned securities is determined at Market Close of the Portfolios at their last sale price or official closing price on the principal exchange or system on which they are traded and any additional collateral is delivered to the Portfolios on the next business day. The cash collateral received is invested in approved investments as defined in the Agreement with BNY. The Portfolios bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Portfolios indemnification from loss with respect to the investment of collateral provided that the cash collateral is invested solely in overnight repurchase agreements.

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NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 11 — SECURITIES LENDING (continued)

The following tables represent a summary of the Portfolios’ securities lending agreements by counterparty which are subject to offset under the Agreement as of June 30, 2018:

Index Plus MidCap

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Barclays Capital Inc.		$	790		$	(790)		$	—
CREDIT SUISSE AG			431,147			(431,147)			—
Cantor Fitzgerald & Co			363,598			(363,598)			—
Citigroup Global Markets Inc.			54,201			(54,201)			—
Credit Suisse Securities (USA) LLC			929,360			(929,360)			—
Goldman, Sachs & Co. LLC			2,418,793			(2,418,793)			—
HSBC Bank PLC			2,205,408			(2,205,408)			—
J.P. Morgan Securities LLC			1,788,800			(1,788,800)			—
Jefferies LLC			7,209			(7,209)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			19,809			(19,809)			—
Morgan Stanley & Co. LLC			832,350			(832,350)			—
National Financial Services LLC			3,943,422			(3,943,422)			—
RBC Dominion Securities Inc			471,574			(471,574)			—
SG Americas Securities, LLC			105,677			(105,677)			—
Scotia Capital (USA) INC			25,548			(25,548)			—
UBS Securities LLC.			474			(474)			—
Wells Fargo Securities LLC			2,434,444			(2,434,444)			—
Total		$	16,032,604		$	(16,032,604)		$	—

(1)

Collateral with a fair value of $16,452,788 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Index Plus SmallCap

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
BMO Capital Markets Corp		$	1,035,246		$	(1,035,246)		$	—
BNP Paribas			221,092			(221,092)			—
CIBC World Markets INC			1,372,263			(1,372,263)			—
Citadel Clearing LLC			498,150			(498,150)			—
Credit Suisse Securities (USA) LLC			45,749			(45,749)			—
Goldman, Sachs & Co. LLC			2,517,683			(2,517,683)			—
J.P. Morgan Securities LLC			1,389,748			(1,389,748)			—
Janney Montgomery Scott LLC			11,547			(11,547)			—

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Jefferies LLC			60,282			(60,282)			—
Morgan Stanley & Co. LLC			1,634,655			(1,634,655)			—
National Financial Services LLC			1,014,159			(1,014,159)			—
Natixis Securities America LLC			1,597,979			(1,597,979)			—
RBC Dominion Securities Inc			653,901			(653,901)			—
SG Americas Securities, LLC			1,927,005			(1,927,005)			—
Wells Fargo Securities LLC			889,393			(889,393)			—
Total		$	14,868,852		$	(14,868,852)		$	—

(1)

Collateral with a fair value of $15,243,023 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

NOTE 12 — SECURITES LENDING SETTLEMENT

In February 2018, Voya Investments and Directed Services LLC (collectively, the “Respondent”) entered into a settlement agreement (the “Settlement”) with the Securities and Exchange Commission related to certain securities lending practices employed within various insurance-dedicated Voya mutual funds. The Respondent paid disgorgement, prejudgment interest and a civil money penalty of $3,647,469, including payments to the impacted mutual funds totaling $2,024,355. During the six-month period ended June 30, 2018, Index Plus SmallCap received a payment of $119,407 related to the Settlement and such amount is recorded in Settlement Income in the accompanying Statements of Operations.

NOTE 13 — FEDERAL INCOME TAXES

The amount of distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of short-term capital gains, foreign currency transactions, and wash sale deferrals. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as return of capital.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 13 — FEDERAL INCOME TAXES (continued)

The tax composition of dividends and distributions to shareholders was as follows:

	Six Months Ended June 30, 2018						Year Ended December 31, 2017
	Ordinary Income			Long-term Capital Gains			Ordinary Income			Long-term Capital Gains
Index Plus LargeCap		$	30,151,020		$	54,397,818		$	13,052,639		$	15,257,201
Index Plus MidCap			20,842,073			56,478,151			11,823,557			38,134,941
Index Plus SmallCap			7,344,381			32,021,040			3,831,342			25,078,683

The tax-basis components of distributable earnings as of December 31, 2017 were:

	Undistributed Ordinary Income			Undistributed Long-term Capital Gains			Unrealized Appreciation/ (Depreciation)
Index Plus LargeCap		$	30,148,701		$	54,396,695		$	183,948,854
Index Plus MidCap			20,840,375			56,478,119			85,931,231
Index Plus SmallCap			7,343,152			32,020,254			50,127,122

At December 31, 2017, the Portfolios did not have any capital loss carryovers for U.S. federal income tax purposes.

The Portfolios’ major tax jurisdictions are U.S. federal and Arizona state.

As of June 30, 2018, no provision for income tax is required in the Portfolios’ financial statements as a result of

tax positions taken on federal and state income tax returns for open tax years. The Portfolios’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. The earliest tax year that remains subject to examination by these jurisdictions is 2013.

NOTE 14 — SUBSEQUENT EVENTS

Reorganization: The Board approved a proposal to reorganize Voya Multi-Manager Large Cap Core Portfolio (the “Merging Portfolio”), which is not included in this report, with and into Index Plus LargeCap (the “Reorganization”). The proposed Reorganization was approved by the shareholders of the Merging Portfolio at a shareholder meeting held on August 7, 2018. The Reorganization will take place on close of business August 24, 2018.

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus LargeCap Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Information Technology			30.2%
	Health Care			14.6%
	Financials			13.6%
	Industrials			10.0%
	Consumer Discretionary			9.2%
	Consumer Staples			6.6%
	Energy			6.0%
	Utilities			3.1%
	Real Estate			3.1%
	Materials			2.6%
	Telecommunication Services			0.6%
	Assets in Excess of Other Liabilities*			0.4%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares			Value			Percentage of Net Assets
COMMON STOCK: 99.6%
		Consumer Discretionary: 9.2%
	7,344 (1)	Amazon.com, Inc.		$	12,483,331		1.4
	338,290	Comcast Corp. – Class A			11,099,295		1.2
	81,624	Home Depot, Inc.			15,924,842		1.8
	83,612	Ross Stores, Inc.			7,086,117		0.8
	545,437 (2)	Other Securities			35,697,631		4.0
					82,291,216		9.2
		Consumer Staples: 6.6%
	113,148	PepsiCo, Inc.			12,318,423		1.4
	123,489	Philip Morris International, Inc.			9,970,502		1.1
	180,527	Procter & Gamble Co.			14,091,938		1.5
	127,233	Walmart, Inc.			10,897,506		1.2
	205,895	Other Securities			12,316,835		1.4
					59,595,204		6.6
		Energy: 6.0%
	107,215	Anadarko Petroleum Corp.			7,853,499		0.9
	122,917	Chevron Corp.			15,540,396		1.7
	146,015	Halliburton Co.			6,579,436		0.8
	74,451	Valero Energy Corp.			8,251,404		0.9
	174,619	Other Securities			15,469,121		1.7
					53,693,856		6.0
		Financials: 13.6%
	47,013	Ameriprise Financial, Inc.			6,576,178		0.7
	574,932	Bank of America Corp.			16,207,333		1.8
	73,638	Comerica, Inc.			6,695,167		0.7
	164,503	JPMorgan Chase & Co.			17,141,213		1.9

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Financials (continued)
	167,307	Morgan Stanley		$	7,930,352		0.9
	42,368	S&P Global, Inc.			8,638,411		1.0
	1,185,796	Other Securities			59,361,567		6.6
					122,550,221		13.6
		Health Care: 14.6%
	53,792	Amgen, Inc.			9,929,465		1.1
	54,671 (1)	Centene Corp.			6,736,014		0.8
	46,096	Cigna Corp.			7,834,015		0.9
	104,050	CVS Health Corp.			6,695,617		0.8
	107,350 (1)	Express Scripts Holding Co.			8,288,494		0.9
	25,242	Humana, Inc.			7,512,776		0.8
	152,870	Johnson & Johnson			18,549,246		2.1
	137,200	Merck & Co., Inc.			8,328,040		0.9
	403,406	Pfizer, Inc.			14,635,570		1.6
	63,102	UnitedHealth Group, Inc.			15,481,445		1.7
	294,871 (2)	Other Securities			26,920,087		3.0
					130,910,769		14.6
		Industrials: 10.0%
	40,579	Boeing Co.			13,614,660		1.5
	62,725	Honeywell International, Inc.			9,035,536		1.0
	80,710	Ingersoll-Rand PLC - Class A			7,242,108		0.8
	52,389	Union Pacific Corp.			7,422,474		0.8
	93,536	Waste Management, Inc.			7,608,218		0.9
	753,920 (2)	Other Securities			44,617,672		5.0
					89,540,668		10.0
		Information Technology: 30.2%
	45,902 (1)	Adobe Systems, Inc.			11,191,367		1.3
	18,317 (1)	Alphabet, Inc. - Class A			20,683,373		2.3
	174,708	Apple, Inc.			32,340,198		3.6
	157,731	Applied Materials, Inc.			7,285,595		0.8
	167,245 (1)	Cadence Design Systems, Inc.			7,243,381		0.8
	339,911	Cisco Systems, Inc.			14,626,370		1.6
	127,384 (1)	Facebook, Inc. - Class A			24,753,259		2.8
	105,740 (1)	Fortinet, Inc.			6,601,348		0.7
	374,383	Microsoft Corp.			36,917,908		4.1
	62,049	Motorola Solutions, Inc.			7,220,642		0.8
	251,211	Oracle Corp.			11,068,357		1.2
	101,058	Texas Instruments, Inc.			11,141,644		1.3
	49,967 (1)	VMware, Inc.			7,343,650		0.8
	1,405,413 (2)	Other Securities			72,700,693		8.1
					271,117,785		30.2
		Materials: 2.6%
	117,736	DowDuPont, Inc.			7,761,157		0.9
	308,759 (2)	Other Securities			15,578,619		1.7
					23,339,776		2.6

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus LargeCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Real Estate: 3.1%
	62,835	American Tower Corp.		$	9,058,922		1.0
	416,963	Other Securities			18,477,341		2.1
					27,536,263		3.1
		Telecommunication Services: 0.6%
	145,531	Other Securities			5,345,909		0.6
		Utilities: 3.1%
	110,861	Ameren Corp.			6,745,892		0.7
	57,556	NextEra Energy, Inc.			9,613,579		1.1
	333,879	Other Securities			11,415,646		1.3
					27,775,117		3.1
		Total Common Stock (Cost $735,763,658)			893,696,784		99.6
SHORT-TERM INVESTMENTS: 0.7%
		Mutual Funds: 0.7%
	6,133,000 (3)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $6,133,000)			6,133,000		0.7

Shares		Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
	Total Short-Term Investments (Cost $6,133,000)		$	6,133,000		0.7
	Total Investments in Securities (Cost $741,896,658)		$	899,829,784		100.3
	Liabilities in Excess of Other Assets			(2,344,725)		(0.3)
	Net Assets		$	897,485,059		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

(1)

Non-income producing security.

(2)

The grouping contains non-income producing securities.

(3)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	893,696,784		$	—		$	—		$	893,696,784
Short-Term Investments			6,133,000			—			—			6,133,000
Total Investments, at fair value		$	899,829,784		$	—		$	—		$	899,829,784
Liabilities Table
Other Financial Instruments+
Futures		$	(8,241)		$	—		$	—		$	(8,241)
Total Liabilities		$	(8,241)		$	—		$	—		$	(8,241)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus LargeCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the following futures contracts were outstanding for Voya Index Plus LargeCap Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
S&P 500 E-Mini		3		09/21/18		$	408,240		$	(8,241)
						$	408,240		$	(8,241)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	8,241
Total Liability Derivatives			$	8,241

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(339,153)
Total		$	(339,153)

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(9,395)
Total		$	(9,395)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $742,584,024.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	182,118,102
Gross Unrealized Depreciation		(24,880,583)
Net Unrealized Appreciation	$	157,237,519

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus MidCap Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Information Technology			16.4%
	Financials			15.7%
	Industrials			14.7%
	Consumer Discretionary			12.6%
	Real Estate			9.1%
	Health Care			9.0%
	Materials			6.3%
	Utilities			5.7%
	Energy			5.6%
	Consumer Staples			3.4%
	Telecommunication Services			0.5%
	Assets in Excess of Other Liabilities*			1.0%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 99.0%
			Consumer Discretionary: 12.6%
	102,861 (1)		Brinker International, Inc.		$	4,896,184		0.8
	92,871		Brunswick Corp.			5,988,322		1.0
	26,926		Domino’s Pizza, Inc.			7,597,709		1.2
	180,162		KB Home			4,907,613		0.8
	1,743 (2)		NVR, Inc.			5,177,320		0.9
	166,163		Service Corp. International			5,946,974		1.0
	1,680,398	(3)(4)	Other Securities			41,971,773		6.9
						76,485,895		12.6
			Consumer Staples: 3.4%
	56,509		Ingredion, Inc.			6,255,546		1.1
	257,579 (4)		Other Securities			14,058,332		2.3
						20,313,878		3.4
			Energy: 5.6%
	93,590 (2)		Dril-Quip, Inc.			4,810,526		0.8
	355,544	(1)(2)	Gulfport Energy Corp.			4,469,188		0.7
	1,578,685 (4)		Other Securities			24,666,898		4.1
						33,946,612		5.6
			Financials: 15.7%
	103,747		East West Bancorp, Inc.			6,764,304		1.1
	110,330		First American Financial Corp.			5,706,268		0.9
	271,045		First Horizon National Corp.			4,835,443		0.8
	252,667		Old Republic International Corp.			5,030,600		0.8
	116,181		Synovus Financial Corp.			6,137,842		1.0

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Financials (continued)
	213,285		TCF Financial Corp.		$	5,251,077		0.9
	1,939,881 (4)		Other Securities			61,638,950		10.2
						95,364,484		15.7
			Health Care: 9.0%
	48,708 (2)		Charles River Laboratories International, Inc.			5,467,960		0.9
	95,164		Encompass Health Corp.			6,444,506		1.1
	55,884		Hill-Rom Holdings, Inc.			4,880,909		0.8
	52,774 (2)		Masimo Corp.			5,153,381		0.9
	41,210		STERIS PLC			4,327,462		0.7
	35,571 (2)		WellCare Health Plans, Inc.			8,759,003		1.4
	570,232	(3)(4)	Other Securities			19,464,437		3.2
						54,497,658		9.0
			Industrials: 14.7%
	57,688		Brink’s Co.			4,600,618		0.8
	44,573		Curtiss-Wright Corp.			5,305,078		0.9
	70,479		EMCOR Group, Inc.			5,369,090		0.9
	54,087		IDEX Corp.			7,381,794		1.2
	263,005 (2)		JetBlue Airways Corp.			4,991,835		0.8
	55,569		Manpowergroup, Inc.			4,782,268		0.8
	64,937		Regal Beloit Corp.			5,311,847		0.9
	101,994		Toro Co.			6,145,138		1.0
	1,123,859 (4)		Other Securities			45,050,344		7.4
						88,938,012		14.7
			Information Technology: 16.4%
	42,217		Broadridge Financial Solutions, Inc. ADR			4,859,177		0.8
	74,181		CDK Global, Inc.			4,825,474		0.8
	29,841 (2)		Fair Isaac Corp.			5,768,862		1.0
	120,219 (2)		Fortinet, Inc.			7,505,272		1.3
	202,115		Jabil, Inc.			5,590,501		0.9
	48,601		LogMeIn, Inc.			5,018,053		0.8
	46,354		MKS Instruments, Inc.			4,436,078		0.7
	169,612		Teradyne, Inc.			6,457,129		1.1
	217,588		Vishay Intertechnology, Inc.			5,048,041		0.8
	1,112,160 (4)		Other Securities			49,942,462		8.2
						99,451,049		16.4
			Materials: 6.3%
	118,476		Chemours Co.			5,255,595		0.9
	181,217		Louisiana-Pacific Corp.			4,932,727		0.8
	159,388		Steel Dynamics, Inc.			7,323,879		1.2
	216,918		Valvoline, Inc.			4,678,921		0.8
	301,298 (4)		Other Securities			15,773,410		2.6
						37,964,532		6.3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus MidCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate: 9.1%
	487,466		Cousins Properties, Inc.		$	4,723,545		0.8
	130,096		First Industrial Realty Trust, Inc.			4,337,401		0.7
	125,681		Highwoods Properties, Inc.			6,375,797		1.0
	85,874		Lamar Advertising Co.			5,866,053		1.0
	108,987		Liberty Property Trust			4,831,394		0.8
	90,114		PotlatchDeltic Corp.			4,582,297		0.7
	694,150	(3)(4)	Other Securities			24,763,934		4.1
						55,480,421		9.1
			Telecommunication Services: 0.5%
	120,267		Other Securities			3,297,721		0.5
			Utilities: 5.7%
	90,105		NorthWestern Corp.			5,158,511		0.9
	121,618		UGI Corp.			6,332,650		1.0
	488,900		Other Securities			23,303,492		3.8
						34,794,653		5.7
			Total Common Stock (Cost $541,171,755)			600,534,915		99.0

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.6%
		Securities Lending Collateral(5): 2.7%
	7,817,679	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $7,819,016, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $7,974,033, due 07/25/18-06/15/53)		7,817,679		1.3
	819,613	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $819,767, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $836,005, due 11/15/42-08/15/44)		819,613		0.1

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(5) (continued)
	3,907,748	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $3,908,374, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $3,985,914, due 01/31/20-09/09/49)		$	3,907,748		0.6
	3,907,748	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $3,908,487, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $3,985,932, due 07/15/19-02/15/48)			3,907,748		0.7
					16,452,788		2.7

Shares			Value			Percentage of Net Assets
		Mutual Funds: 0.9%
	5,669,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $5,669,000)			5,669,000		0.9
		Total Short-Term Investments (Cost $22,121,788)			22,121,788		3.6
		Total Investments in Securities (Cost $563,293,543)		$	622,656,703		102.6
		Liabilities in Excess of Other Assets			(15,842,415)		(2.6)
		Net Assets		$	606,814,288		100.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus MidCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

ADR

American Depositary Receipt

(1)

Security, or a portion of the security, is on loan.

(2)

Non-income producing security.

(3)

The grouping contains securities on loan.

(4)

The grouping contains non-income producing securities.

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	600,534,915		$	—		$	—		$	600,534,915
Short-Term Investments			5,669,000			16,452,788			—			22,121,788
Total Investments, at fair value		$	606,203,915		$	16,452,788		$	—		$	622,656,703
Liabilities Table
Other Financial Instruments+
Futures		$	(59,830)		$	—		$	—		$	(59,830)
Total Liabilities		$	(59,830)		$	—		$	—		$	(59,830)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

At June 30, 2018, the following futures contracts were outstanding for Voya Index Plus MidCap Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
S&P Mid 400 E-Mini		23		09/21/18		$	4,499,030		$	(59,830)
						$	4,499,030		$	(59,830)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	59,830
Total Liability Derivatives			$	59,830

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus MidCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	76,498
Total		$	76,498

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(151,767)
Total		$	(151,767)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $564,108,926.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	80,155,063
Gross Unrealized Depreciation		(21,667,117)
Net Unrealized Appreciation	$	58,487,946

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus SmallCap Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Industrials			19.2%
	Financials			17.2%
	Information Technology			14.7%
	Consumer Discretionary			14.6%
	Health Care			12.0%
	Real Estate			6.0%
	Materials			4.6%
	Energy			4.0%
	Consumer Staples			3.3%
	Utilities			2.1%
	Telecommunication Services			1.0%
	Assets in Excess of Other Liabilities*			1.3%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 98.7%
			Consumer Discretionary: 14.6%
	62,853		Caleres, Inc.		$	2,161,515		0.7
	19,907		Childrens Place, Inc./The			2,404,766		0.8
	45,731 (1)		Dave & Buster’s Entertainment, Inc.			2,176,796		0.7
	64,904		La-Z-Boy, Inc.			1,986,062		0.7
	67,636		MDC Holdings, Inc.			2,081,160		0.7
	61,491		NutriSystem, Inc.			2,367,403		0.8
	88,888 (1)		Penn National Gaming, Inc.			2,985,748		1.0
	36,656 (1)		TopBuild Corp.			2,871,631		0.9
	69,681		Wolverine World Wide, Inc.			2,422,808		0.8
	1,261,499	(2)(3)	Other Securities			22,451,978		7.5
						43,909,867		14.6
			Consumer Staples: 3.3%
	14,901		Medifast, Inc.			2,386,544		0.8
	437,520	(2)(3)	Other Securities			7,502,617		2.5
						9,889,161		3.3
			Energy: 4.0%
	567,299	(2)(3)	Other Securities			12,120,233		4.0
			Financials: 17.2%
	71,512		American Equity Investment Life Holding Co.			2,574,432		0.8
	320,364 (1)		First BanCorp. Puerto Rico			2,450,785		0.8
	47,861		Great Western Bancorp, Inc.			2,009,683		0.7
	140,938 (1)		NMI Holdings, Inc.			2,297,289		0.8
	26,250		Piper Jaffray Cos.			2,017,312		0.7
	38,631		Selective Insurance Group			2,124,705		0.7
	81,864		Simmons First National Corp.			2,447,734		0.8

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	46,484		Walker & Dunlop, Inc.		$	2,586,835		0.9
	1,369,003	(2)(3)	Other Securities			32,981,628		11.0
						51,490,403		17.2
			Health Care: 12.0%
	33,131 (1)		Amedisys, Inc.			2,831,375		0.9
	42,036 (1)		AMN Healthcare Services, Inc.			2,463,310		0.8
	41,473 (1)		Emergent Biosolutions, Inc.			2,093,972		0.7
	39,026 (1)		Integer Holdings Corp.			2,523,031		0.8
	21,555 (1)		Magellan Health, Inc.			2,068,202		0.7
	45,039 (1)		Merit Medical Systems, Inc.			2,305,997		0.8
	35,059 (1)		Supernus Pharmaceuticals, Inc.			2,098,281		0.7
	66,400	(1)(4)	Tivity Health, Inc.			2,337,280		0.8
	572,858	(2)(3)	Other Securities			17,363,365		5.8
						36,084,813		12.0
			Industrials: 19.2%
	50,296		ArcBest Corp.			2,298,527		0.8
	44,350		Barnes Group, Inc.			2,612,215		0.9
	111,537 (1)		Harsco Corp.			2,464,968		0.8
	63,756		Hillenbrand, Inc.			3,006,095		1.0
	55,345		Korn/Ferry International			3,427,516		1.1
	43,070		Simpson Manufacturing Co., Inc.			2,678,523		0.9
	46,702 (1)		SPX FLOW, Inc.			2,044,147		0.7
	53,059		Tetra Tech, Inc.			3,103,952		1.0
	66,702		Universal Forest Products, Inc.			2,442,627		0.8
	27,668		Watts Water Technologies, Inc.			2,169,171		0.7
	920,162	(2)(3)	Other Securities			31,543,380		10.5
						57,791,121		19.2
			Information Technology: 14.7%
	35,219 (1)		Advanced Energy Industries, Inc.			2,045,872		0.7
	71,262		Benchmark Electronics, Inc.			2,077,287		0.7
	21,416 (1)		CACI International, Inc.			3,609,667		1.2
	51,432		CSG Systems International, Inc.			2,102,026		0.7
	64,148		Progress Software Corp.			2,490,225		0.8
	72,685 (1)		Sanmina Corp.			2,129,670		0.7
	152,801		Travelport Worldwide Ltd.			2,832,931		1.0
	803,120	(2)(3)	Other Securities			26,773,563		8.9
						44,061,241		14.7
			Materials: 4.6%
	58,642		Boise Cascade Co.			2,621,297		0.9
	25,298		Stepan Co.			1,973,497		0.6
	200,466 (3)		Other Securities			9,319,859		3.1
						13,914,653		4.6

See Accompanying Notes to Financial Statements

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SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus SmallCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Real Estate: 6.0%
	92,588	Chesapeake Lodging Trust		$	2,929,484		1.0
	210,529	DiamondRock Hospitality Co.			2,585,296		0.8
	31,010	EastGroup Properties, Inc.			2,963,316		1.0
	249,547	Washington Prime Group, Inc.			2,023,826		0.7
	542,035 (2)	Other Securities			7,404,870		2.5
					17,906,792		6.0
		Telecommunication Services: 1.0%
	42,323	Cogent Communications Holdings, Inc.			2,260,048		0.8
	56,475 (3)	Other Securities			727,963		0.2
					2,988,011		1.0
		Utilities: 2.1%
	115,541 (2)	Other Securities			6,424,172		2.1
		Total Common Stock (Cost $244,774,027)			296,580,467		98.7

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 6.3%
		Securities Lending Collateral(5): 5.1%
	3,620,394	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $3,620,989, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $3,692,802, due 07/05/18-09/09/49)		3,620,394		1.2
	3,620,394	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $3,621,072, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $3,692,803, due 11/15/42-08/15/44)		3,620,394		1.2

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(5) (continued)
	761,447	MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $761,580, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $776,676, due 02/01/21-10/15/58)		$	761,447		0.3
	3,620,394	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $3,620,974, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $3,692,812, due 01/31/20-09/09/49)			3,620,394		1.2
	3,620,394	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $3,621,078, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $3,692,829, due 07/15/19-02/15/48)			3,620,394		1.2
					15,243,023		5.1

Shares			Value		Percentage of Net Assets
		Mutual Funds: 1.2%
	3,741,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $3,741,000)		3,741,000		1.2
		Total Short-Term Investments (Cost $18,984,023)		18,984,023		6.3

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus SmallCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares		Value			Percentage of Net Assets
	Total Investments in Securities (Cost $263,758,050)		$	315,564,490		105.0
	Liabilities in Excess of Other Assets			(15,138,326)		(5.0)
	Net Assets		$	300,426,164		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Non-income producing security.

(2)

The grouping contains securities on loan.

(3)

The grouping contains non-income producing securities.

(4)

Security, or a portion of the security, is on loan.

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	296,580,467		$	—		$	—		$	296,580,467
Short-Term Investments			3,741,000			15,243,023			—			18,984,023
Total Investments, at fair value		$	300,321,467		$	15,243,023		$	—		$	315,564,490
Liabilities Table
Other Financial Instruments+
Futures		$	(36,612)		$	—		$	—		$	(36,612)
Total Liabilities		$	(36,612)		$	—		$	—		$	(36,612)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

At June 30, 2018, the following futures contracts were outstanding for Voya Index Plus SmallCap Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Russell 2000® Mini Index		45		09/21/18		$	3,706,875		$	(36,612)
						$	3,706,875		$	(36,612)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Liability Derivatives
Equity contracts	Net Assets — Unrealized depreciation*		$	36,612
Total Liability Derivatives			$	36,612

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Index Plus SmallCap Portfolio

as of June 30, 2018 (Unaudited) (continued)

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	326,039
Total		$	326,039

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(37,658)
Total		$	(37,658)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $264,026,703.
Net unrealized appreciation consisted of:
Gross Unrealized Appreciation	$	63,239,203
Gross Unrealized Depreciation		(11,738,028)
Net Unrealized Appreciation	$	51,501,175

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Investment Adviser
Voya Investments, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258

Distributor
Voya Investments Distributor, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258

Transfer Agent
BNY Mellon Investment Servicing (U.S.) Inc.
301 Bellevue Parkway
Wilmington, Delaware 19809

Custodian
The Bank of New York Mellon
225 Liberty Street
New York, New York 10286

Legal Counsel
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02199

RETIREMENT | INVESTMENTS | INSURANCE

voyainvestments.com

VPSAR-AIP (0618-081618)

TABLE OF CONTENTS

Semi-Annual Report

June 30, 2018

Classes ADV, I, R6, S, S2 and T

Voya Variable Product Funds

■

Voya Balanced Portfolio

■

Voya Global Equity Portfolio

■

Voya Government Money Market Portfolio

■

Voya Growth and Income Portfolio

■

Voya Intermediate Bond Portfolio

■

Voya Small Company Portfolio

TABLE OF CONTENTS

	President’s Letter					1
	Market Perspective					2
	Shareholder Expense Examples					4
	Statements of Assets and Liabilities					6
	Statements of Operations					10
	Statements of Changes in Net Assets					12
	Financial Highlights					15
	Notes to Financial Statements					19
	Summary Portfolios of Investments (“Portfolio of Investments”)					37

PROXY VOTING INFORMATION

A description of the policies and procedures that the Portfolios use to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the Portfolios’ website at www.voyainvestments.com; and (3) on the U.S. Securities and Exchange Commission’s (“SEC”) website at www.sec.gov. Information regarding how the Portfolios voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Portfolios’ website at www.voyainvestments.com and on the SEC’s website at www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS

TABLE OF CONTENTS

PRESIDENT’S LETTER

Mid-Year Outlook

Dear Shareholder,

Sincerely,

Dina Santoro
President
Voya Family of Funds
July 19, 2018

International investing poses special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic.

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Market Perspective: Six Months Ended June 30, 2018

Still, the underlying U.S. economy remained strong. In April the unemployment rate broke below 4% and in June it was reported at

In March and June the FOMC duly raised rates, with two more increases now projected for 2018.

So June ended with the aura of synchronized global growth fading fast and what was left of it threatened by a trade war, from which surely no-one could expect any lasting benefit.

All indices are unmanaged and investors cannot invest directly in an index. Past performance does not guarantee future results. The performance quoted represents past performance.

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Benchmark Descriptions

		Index				Description
		Bloomberg Barclays U.S. Aggregate Bond Index				An index of publicly issued investment grade U.S. government, mortgage-backed, asset-backed and corporate debt securities.
		Bloomberg Barclays U.S. Corporate Investment Grade Bond Index				An index consisting of publicly issued, fixed rate, nonconvertible, investment grade debt securities.
		MSCI Europe ex UK® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK.
		MSCI Japan® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan.
		MSCI UK® Index				A free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK.
		MSCI World IndexSM				An index that measures the performance of over 1,600 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East.
		S&P 500® Index				An index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major U.S. stock markets.

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Shareholder Expense Examples (Unaudited)

The Examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from January 1, 2018 to June 30, 2018. The Portfolios’ expenses are shown without the imposition of any charges which are, or may be, imposed under your variable annuity contract, variable life insurance policy, qualified pension, or retirement plan. Expenses would have been higher if such charges were included.

Actual Expenses

Hypothetical Example for Comparison Purposes

	Actual Portfolio Return											Hypothetical (5% return before expenses)
	Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio*		Expenses Paid During the Period Ended June 30, 2018*			Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio*		Expenses Paid During the Period Ended June 30, 2018*
Voya Balanced Portfolio
Class I		$	1,000.00		$	991.20		0.67%		$	3.31		$	1,000.00		$	1,021.47		0.67%		$	3.36
Class S			1,000.00			990.00		0.92			4.54			1,000.00			1,020.23		0.92			4.61
Voya Global Equity Portfolio
Class ADV		$	1,000.00		$	981.60		1.11%		$	5.45		$	1,000.00		$	1,019.29		1.11%		$	5.56
Class I			1,000.00			984.30		0.61			3.00			1,000.00			1,021.77		0.61			3.06
Class S			1,000.00			982.50		0.86			4.23			1,000.00			1,020.53		0.86			4.31
Class S2			1,000.00			981.60		1.01			4.96			1,000.00			1,019.79		1.01			5.06
Class T			1,000.00			981.00		1.21			5.94			1,000.00			1,018.79		1.21			6.06
Voya Government Money Market Portfolio
Class I		$	1,000.00		$	1,006.50		0.34%		$	1.69		$	1,000.00		$	1,023.11		0.34%		$	1.71
Class S			1,000.00			1,005.70		0.49			2.44			1,000.00			1,022.36		0.49			2.46
Voya Growth and Income Portfolio
Class ADV		$	1,000.00		$	1,008.10		1.03%		$	5.13		$	1,000.00		$	1,019.69		1.03%		$	5.16
Class I			1,000.00			1,010.40		0.58			2.89			1,000.00			1,021.92		0.58			2.91
Class S			1,000.00			1,009.20		0.83			4.13			1,000.00			1,020.68		0.83			4.16
Class S2			1,000.00			1,008.20		0.98			4.88			1,000.00			1,019.93		0.98			4.91

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Shareholder Expense Examples (Unaudited) (continued)

	Actual Portfolio Return											Hypothetical (5% return before expenses)
	Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio*		Expenses Paid During the Period Ended June 30, 2018*			Beginning Account Value January 1, 2018			Ending Account Value June 30, 2018			Annualized Expense Ratio*		Expenses Paid During the Period Ended June 30, 2018*
Voya Intermediate Bond Portfolio
Class ADV		$	1,000.00		$	978.80		1.03%		$	5.05		$	1,000.00		$	1,019.69		1.03%		$	5.16
Class I			1,000.00			981.60		0.53			2.60			1,000.00			1,022.17		0.53			2.66
Class S			1,000.00			980.20		0.78			3.83			1,000.00			1,020.93		0.78			3.91
Class S2			1,000.00			979.30		0.93			4.56			1,000.00			1,020.18		0.93			4.66
Voya Small Company Portfolio
Class ADV		$	1,000.00		$	1,028.90		1.39%		$	6.99		$	1,000.00		$	1,017.90		1.39%		$	6.95
Class I			1,000.00			1,031.30		0.89			4.48			1,000.00			1,020.38		0.89			4.46
Class R6			1,000.00			1,031.70		0.89			4.48			1,000.00			1,020.38		0.89			4.46
Class S			1,000.00			1,029.90		1.14			5.74			1,000.00			1,019.14		1.14			5.71

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STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited)

	Voya Balanced Portfolio			Voya Global Equity Portfolio			Voya Government Money Market Portfolio
ASSETS:
Investments in securities at fair value+*		$	354,164,828		$	637,304,403		$	—
Investments in affiliated underlying funds at fair value**			29,276,726			—			—
Short-term investments at fair value***			31,309,561			15,198,305			—
Repurchase agreements			—			—			58,417,000
Short-term investments at amortized cost			—			—			235,769,019
Cash			185,442			312,912			4,414
Cash collateral for futures			2,022,399			—			—
Cash pledged for centrally cleared swaps (Note 2)			242,000			—			—
Foreign currencies at value****			119,889			—			—
Foreign cash collateral for futures*****			1,085			—			—
Receivables:
Investments in affiliated underlying funds sold			6,735,417			—			—
Investment securities sold			—			14,399,366			125,924,515
Investment securities sold on a delayed-delivery or when-issued basis			2,142,985			—			—
Fund shares sold			48,707			30,290			822,420
Dividends			277,909			2,208,766			2,469
Interest			523,581			225			157,285
Foreign tax reclaims			170,669			1,333,711			—
Variation margin			960			—			—
Unrealized appreciation on forward foreign currency contracts			132,988			—			—
Unrealized appreciation on forward premium swaptions			14,806			—			—
Prepaid expenses			4,123			6,779			4,167
Reimbursement due from manager			—			8,981			—
Other assets			53,409			54,088			135,160
Total assets			427,427,484			670,857,826			421,236,449
LIABILITIES:
Payable for investments in affiliated underlying funds purchased			10,920,085			—			—
Payable for investment securities purchased			—			11,570,387			—
Payable for investment securities purchased on a delayed-delivery or when-issued basis			13,111,968			—			—
Payable for fund shares redeemed			81,594			311,638			11,541
Payable upon receipt of securities loaned			5,640,811			15,198,305			—
Unrealized depreciation on forward foreign currency contracts			28,183			—			—
Variation margin payable on centrally cleared swaps			584			—			—
Payable for investment management fees			200,088			297,839			105,917
Payable for distribution and shareholder service fees			651			117,674			6
Payable to custodian due to foreign currency overdraft******			—			861,286			—
Payable for directors/trustees fees			2,089			3,406			2,150
Payable to directors/trustees under the deferred compensation plan (Note 6)			53,409			54,088			135,160
Payable for borrowings against line of credit			—			817,000			—
Other accrued expenses and liabilities			113,212			186,599			67,809
Total liabilities			30,152,674			29,418,222			322,583
NET ASSETS		$	397,274,810		$	641,439,604		$	420,913,866
NET ASSETS WERE COMPRISED OF:
Paid-in capital		$	368,688,871		$	602,868,702		$	421,053,153
Undistributed (distributions in excess of) net investment income or accumulated net investment loss			4,728,183			9,178,871			(139,828)
Accumulated net realized gain			15,044,747			35,599,204			541
Net unrealized appreciation (depreciation)			8,813,009			(6,207,173)			—
NET ASSETS		$	397,274,810		$	641,439,604		$	420,913,866
+ Including securities loaned at value		$	5,443,880		$	12,232,402		$	—
* Cost of investments in securities		$	344,813,926		$	643,504,993		$	—
** Cost of investments in affiliated underlying funds		$	29,714,607		$	—		$	—
*** Cost of short-term investments		$	31,309,561		$	15,198,305		$	—
**** Cost of foreign currencies		$	121,081		$	—		$	—
****** Cost of foreign cash collateral for futures		$	1,085		$	—		$	—
******* Cost of foreign currency overdraft		$	—		$	861,286		$	—

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited) (continued)

	Voya Balanced Portfolio			Voya Global Equity Portfolio			Voya Government Money Market Portfolio
Class ADV
Net assets			n/a		$	17,969,564			n/a
Shares authorized			n/a			100,000,000			n/a
Par value			n/a		$	0.001			n/a
Shares outstanding			n/a			1,686,654			n/a
Net asset value and redemption price per share			n/a		$	10.65			n/a
Class I
Net assets		$	394,148,297		$	150,094,652		$	420,867,664
Shares authorized			500,000,000			100,000,000			unlimited
Par value		$	0.001		$	0.001		$	1.000
Shares outstanding			26,281,097			13,990,949			420,748,791
Net asset value and redemption price per share		$	15.00		$	10.73		$	1.00
Class S
Net assets		$	3,126,513		$	436,698,455		$	46,202
Shares authorized			500,000,000			300,000,000			unlimited
Par value		$	0.001		$	0.001		$	1.000
Shares outstanding			209,445			40,699,749			46,190
Net asset value and redemption price per share		$	14.93		$	10.73		$	1.00
Class S2
Net assets			n/a		$	352,214			n/a
Shares authorized			n/a			100,000,000			n/a
Par value			n/a		$	0.001			n/a
Shares outstanding			n/a			33,316			n/a
Net asset value and redemption price per share			n/a		$	10.57			n/a
Class T
Net assets			n/a		$	36,324,719			n/a
Shares authorized			n/a			100,000,000			n/a
Par value			n/a		$	0.001			n/a
Shares outstanding			n/a			3,426,426			n/a
Net asset value and redemption price per share			n/a		$	10.60			n/a

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited)

	Voya Growth and Income Portfolio			Voya Intermediate Bond Portfolio			Voya Small Company Portfolio
ASSETS:
Investments in securities at fair value+*		$	3,229,587,726		$	3,272,557,746		$	649,840,061
Investments in affiliates at fair value**			—			693,449,627			—
Short-term investments at fair value***			56,416,046			237,921,798			51,880,506
Cash			1,031,732			—			519,185
Cash collateral for futures			—			4,456,289			—
Cash pledged for centrally cleared swaps (Note 2)			—			4,566,000			—
Foreign currencies at value****			—			577,079			—
Foreign cash collateral for futures*****			—			44,289			—
Receivables:
Investment securities sold			32,090,440			28,302,858			2,633,271
Investment securities sold on a delayed-delivery or when-issued basis			—			39,863,277			—
Fund shares sold			3,034			605,108			70,938
Dividends			3,901,777			12,588			325,876
Interest			264			23,708,554			136
Unrealized appreciation on forward foreign currency contracts			—			6,500,649			—
Unrealized appreciation on forward premium swaptions			—			606,094			—
Prepaid expenses			33,485			38,329			7,084
Reimbursement due from manager			—			7,611			—
Other assets			254,346			401,156			46,372
Total assets			3,323,318,850			4,313,619,052			705,323,429
LIABILITIES:
Income distribution payable			—			570			—
Payable for investment securities purchased			—			45,160,768			5,407,523
Payable for investment securities purchased on a delayed-delivery or when-issued basis			—			385,954,695			—
Payable for fund shares redeemed			1,303,161			1,970,010			4,125,931
Payable upon receipt of securities loaned			52,489,046			102,240,974			31,814,506
Unrealized depreciation on forward foreign currency contracts			—			1,310,907			—
Variation margin payable on centrally cleared swaps			—			1,295			—
Cash received as collateral for OTC derivatives (Note 2)			—			4,107,000			—
Cash received as collateral for delayed-delivery or when-issued securities (Note 2)			—			1,060,000			—
Payable for investment management fees			1,517,101			1,555,526			476,018
Payable for distribution and shareholder service fees			463,641			625,238			25,353
Payable for directors/trustees fees			16,913			19,481			3,540
Payable to directors/trustees under the deferred compensation plan (Note 6)			254,346			401,156			46,372
Other accrued expenses and liabilities			376,597			538,814			66,138
Total liabilities			56,420,805			544,946,434			41,965,381
NET ASSETS		$	3,266,898,045		$	3,768,672,618		$	663,358,048
NET ASSETS WERE COMPRISED OF:
Paid-in capital		$	2,531,057,049		$	3,875,841,914		$	549,839,810
Undistributed net investment income			25,605,894			4,800,337			753,529
Accumulated net realized gain (loss)			47,971,616			(33,975,511)			49,387,276
Net unrealized appreciation (depreciation)			662,263,486			(77,994,122)			63,377,433
NET ASSETS		$	3,266,898,045		$	3,768,672,618		$	663,358,048
+ Including securities loaned at value		$	51,058,265		$	100,004,276		$	31,024,356
* Cost of investments in securities		$	2,567,324,240		$	3,317,562,574		$	586,462,628
** Cost of investments in affiliates		$	—		$	731,633,032		$	—
*** Cost of short-term investments		$	56,416,046		$	237,936,565		$	51,880,506
**** Cost of foreign currencies		$	—		$	581,639		$	—
***** Cost of foreign cash collateral for futures		$	—		$	44,289		$	—

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF ASSETS AND LIABILITIES as of June 30, 2018 (Unaudited) (continued)

	Voya Growth and Income Portfolio			Voya Intermediate Bond Portfolio			Voya Small Company Portfolio
Class ADV
Net assets		$	941,981,227		$	291,318,270		$	7,992,583
Shares authorized			unlimited			unlimited			100,000,000
Par value		$	1.000		$	1.000		$	0.001
Shares outstanding			33,459,832			23,706,799			437,866
Net asset value and redemption price per share		$	28.15		$	12.29		$	18.25
Class I
Net assets		$	1,803,710,366		$	1,044,117,068		$	542,587,239
Shares authorized			unlimited			unlimited			100,000,000
Par value		$	1.000		$	1.000		$	0.001
Shares outstanding			62,960,512			84,063,804			28,115,646
Net asset value and redemption price per share		$	28.65		$	12.42		$	19.30
Class R6
Net assets			n/a			n/a		$	7,383,389
Shares authorized			n/a			n/a			100,000,000
Par value			n/a			n/a		$	0.001
Shares outstanding			n/a			n/a			382,449
Net asset value and redemption price per share			n/a			n/a		$	19.31
Class S
Net assets		$	520,780,133		$	2,410,627,915		$	105,394,837
Shares authorized			unlimited			unlimited			100,000,000
Par value		$	1.000		$	1.000		$	0.001
Shares outstanding			18,463,874			195,398,336			5,614,602
Net asset value and redemption price per share		$	28.21		$	12.34		$	18.77
Class S2
Net assets		$	426,319		$	22,609,365			n/a
Shares authorized			unlimited			unlimited			n/a
Par value		$	1.000		$	1.000			n/a
Shares outstanding			15,302			1,839,524			n/a
Net asset value and redemption price per share		$	27.86		$	12.29			n/a

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF OPERATIONS for the six months ended June 30, 2018 (Unaudited)

	Voya Balanced Portfolio			Voya Global Equity Portfolio			Voya Government Money Market Portfolio			Voya Growth and Income Portfolio
INVESTMENT INCOME:
Dividends, net of foreign taxes withheld*		$	3,362,412		$	11,909,958		$	4,326		$	38,245,440
Interest, net of foreign taxes withheld*			1,694,901			6,813			3,456,522			167,993
Dividends from affiliated underlying funds			842,518			—			—			—
Securities lending income, net			47,165			69,180			—			313,087
Other			6,552			37,381			—			60,512
Total investment income			5,953,548			12,023,332			3,460,848			38,787,032
EXPENSES:
Investment management fees			1,242,817			1,864,547			746,187			10,064,629
Distribution and shareholder service fees:
Class ADV			—			47,039			—			2,425,272
Class S			4,159			575,091			58			669,249
Class S2			—			726			—			837
Class T			—			143,680			—			—
Transfer agent fees			283			719			342			4,779
Shareholder reporting expense			16,290			34,060			18,703			104,075
Professional fees			14,842			27,352			12,174			70,702
Custody and accounting expense			86,692			73,206			23,530			166,320
Directors/trustees fees			8,354			13,623			8,601			67,653
License fee			2,250			—			—			—
Transition costs (Note 6)			—			62,000			—			—
Miscellaneous expense			11,233			18,483			11,010			63,604
Interest expense			226			120			3,343			77
Total expenses			1,387,146			2,860,646			823,948			13,637,197
Waived and reimbursed fees			—			(66,381)			(95,964)			(997,394)
Net expenses			1,387,146			2,794,265			727,984			12,639,803
Net investment income			4,566,402			9,229,067			2,732,864			26,147,229
REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments (Note 6)			16,591,823			103,163,220			41,052			61,877,003
Sale of affiliated underlying funds			(29,418)			—			—			—
Forward foreign currency contracts			114,821			—			—			—
Foreign currency related transactions			(18,245)			(84,299)			—			—
Futures (Note 6)			877,790			1,119,873			—			—
Swaps			95,351			—			—			—
Net realized gain			17,632,122			104,198,794			41,052			61,877,003
Net change in unrealized appreciation (depreciation) on:
Investments (Note 6)			(24,594,423)			(123,079,859)			—			(55,247,057)
Affiliated underlying funds			(713,685)			—			—			—
Forward foreign currency contracts			113,902			—			—			—
Foreign currency related transactions			(10,283)			(68,176)			—			—
Futures			(520,718)			(1,063,402)			—			—
Swaps			25,233			—			—			—
Net change in unrealized appreciation (depreciation)			(25,699,974)			(124,211,437)			—			(55,247,057)
Net realized and unrealized gain (loss)			(8,067,852)			(20,012,643)			41,052			6,629,946
Increase (decrease) in net assets resulting from operations		$	(3,501,450)		$	(10,783,576)		$	2,773,916		$	32,777,175
* Foreign taxes withheld		$	123,977		$	909,830		$	—		$	567,343

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF OPERATIONS for the six months ended June 30, 2018 (Unaudited)

	Voya Intermediate Bond Portfolio			Voya Small Company Portfolio
INVESTMENT INCOME:
Dividends		$	119,004		$	3,808,608
Interest, net of foreign taxes withheld*			61,892,878			643
Dividends from affiliated underlying funds			17,398,456			—
Securities lending income, net			446,154			123,823
Other			3,005			92,413
Total investment income			79,859,497			4,025,487
EXPENSES:
Investment management fees			9,659,948			2,984,537
Distribution and shareholder service fees:
Class ADV			747,462			19,506
Class S			3,096,625			133,017
Class S2			47,366			—
Transfer agent fees			3,190			736
Shareholder reporting expense			136,925			26,010
Professional fees			105,870			26,137
Custody and accounting expense			251,961			44,950
Directors/trustees fees			77,924			14,161
Miscellaneous expense			79,967			19,329
Interest expense			3,436			15,151
Total expenses			14,210,674			3,283,534
Waived and reimbursed fees			(27,559)			—
Net expenses			14,183,115			3,283,534
Net investment income			65,676,382			741,953
REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments			(26,771,615)			51,141,547
Sale of affiliated underlying funds			(414,649)			—
Forward foreign currency contracts			2,227,447			—
Foreign currency related transactions			(446,817)			—
Futures			(6,600,487)			—
Swaps			2,706,834			—
Net realized gain (loss)			(29,299,287)			51,141,547
Net change in unrealized appreciation (depreciation) on:
Investments			(86,261,579)			(31,751,024)
Affiliated underlying funds			(34,309,546)			—
Forward foreign currency contracts			5,910,378			—
Foreign currency related transactions			(17,693)			—
Futures			969,923			—
Swaps			(1,494,740)			—
Net change in unrealized appreciation (depreciation)			(115,203,257)			(31,751,024)
Net realized and unrealized gain (loss)			(144,502,544)			19,390,523
Increase (decrease) in net assets resulting from operations		$	(78,826,162)		$	20,132,476
* Foreign taxes withheld		$	27,198		$	—

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Balanced Portfolio						Voya Global Equity Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	4,566,402		$	8,573,681		$	9,229,067		$	12,037,939
Net realized gain			17,632,122			31,617,977			104,198,794			60,640,114
Net change in unrealized appreciation (depreciation)			(25,699,974)			18,239,196			(124,211,437)			76,872,082
Increase (decrease) in net assets resulting from operations			(3,501,450)			58,430,854			(10,783,576)			149,550,135
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			—			—			(289,533)			(370,586)
Class I			(8,875,345)			(10,867,103)			(3,232,174)			(3,602,681)
Class S			(60,076)			(87,514)			(8,152,829)			(10,272,423)
Class S2			—			—			(5,900)			(8,101)
Class T			—			—			(538,008)			(720,568)
Net realized gains:
Class I			(29,344,322)			—			—			—
Class S			(229,365)			—			—			—
Total distributions			(38,509,108)			(10,954,617)			(12,218,444)			(14,974,359)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			2,757,730			6,144,073			3,278,911			12,033,042
Reinvestment of distributions			38,509,108			10,954,617			12,218,444			14,974,359
			41,266,838			17,098,690			15,497,355			27,007,401
Cost of shares redeemed			(30,543,738)			(57,127,098)			(54,307,616)			(156,158,099)
Net increase (decrease) in net assets resulting from capital share transactions			10,723,100			(40,028,408)			(38,810,261)			(129,150,698)
Net increase (decrease) in net assets			(31,287,458)			7,447,829			(61,812,281)			5,425,078
NET ASSETS:
Beginning of year or period			428,562,268			421,114,439			703,251,885			697,826,807
End of year or period		$	397,274,810		$	428,562,268		$	641,439,604		$	703,251,885
Undistributed net investment income at end of year or period		$	4,728,183		$	9,097,202		$	9,178,871		$	12,168,248

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Government Money Market Portfolio						Voya Growth and Income Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	2,732,864		$	2,683,133		$	26,147,229		$	51,914,349
Net realized gain			41,052			100,629			61,877,003			452,172,876
Net change in unrealized appreciation (depreciation)			—			—			(55,247,057)			136,328,667
Increase in net assets resulting from operations			2,773,916			2,783,762			32,777,175			640,415,892
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			—			—			—			(12,635,577)
Class I			(2,732,603)			(2,682,933)			—			(32,232,936)
Class S			(259)			(206)			—			(8,093,161)
Class S2			—			—			—			(5,539)
Net realized gains:
Class ADV			—			—			(33,789,533)			(113,484,388)
Class I			(40,507)			(100,617)			(63,593,396)			(208,205,233)
Class S			(4)			(12)			(18,623,347)			(62,538,322)
Class S2			—			—			(15,110)			(46,070)
Total distributions			(2,773,373)			(2,783,768)			(116,021,386)			(437,241,226)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			42,139,720			62,022,014			6,446,026			24,739,915
Reinvestment of distributions			2,773,373			2,783,764			115,961,158			436,956,279
			44,913,093			64,805,778			122,407,184			461,696,194
Cost of shares redeemed			(62,635,279)			(130,827,430)			(245,586,057)			(643,283,459)
Net decrease in net assets resulting from capital share transactions			(17,722,186)			(66,021,652)			(123,178,873)			(181,587,265)
Net increase (decrease) in net assets			(17,721,643)			(66,021,658)			(206,423,084)			21,587,401
NET ASSETS:
Beginning of year or period			438,635,509			504,657,167			3,473,321,129			3,451,733,728
End of year or period		$	420,913,866		$	438,635,509		$	3,266,898,045		$	3,473,321,129
Undistributed (distributions in excess of) net investment income or accumulated net investment loss at end of year or period		$	(139,828)		$	(139,830)		$	25,605,894		$	(541,335)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

	Voya Intermediate Bond Portfolio						Voya Small Company Portfolio
	Six Months Ended June 30, 2018			Year Ended December 31, 2017			Six Months Ended June 30, 2018			Year Ended December 31, 2017
FROM OPERATIONS:
Net investment income		$	65,676,382		$	125,405,123		$	741,953		$	3,115,702
Net realized gain (loss)			(29,299,287)			36,560,294			51,141,547			100,396,816
Net change in unrealized appreciation (depreciation)			(115,203,257)			38,246,665			(31,751,024)			(27,255,603)
Increase (decrease) in net assets resulting from operations			(78,826,162)			200,212,082			20,132,476			76,256,915
FROM DISTRIBUTIONS TO SHAREHOLDERS:
Net investment income:
Class ADV			(4,155,825)			(8,924,236)			(8,402)			—
Class I			(17,467,270)			(38,341,421)			(2,773,193)			(2,010,029)
Class R6			—			—			(35,887)			(14,076)
Class S			(37,540,507)			(85,370,560)			(236,012)			(160,821)
Class S2			(341,010)			(722,379)			—			—
Net realized gains:
Class ADV			—			—			(1,206,149)			(668,667)
Class I			—			—			(80,250,971)			(61,828,039)
Class R6			—			—			(1,038,514)			(433,121)
Class S			—			—			(15,732,018)			(13,406,040)
Total distributions			(59,504,612)			(133,358,596)			(101,281,146)			(78,520,793)
FROM CAPITAL SHARE TRANSACTIONS:
Net proceeds from sale of shares			77,934,363			125,803,650			27,113,204			109,590,170
Reinvestment of distributions			59,501,098			133,354,061			101,281,146			78,520,793
			137,435,461			259,157,711			128,394,350			188,110,963
Cost of shares redeemed			(272,700,757)			(682,116,403)			(116,930,813)			(143,931,177)
Net increase (decrease) in net assets resulting from capital share transactions			(135,265,296)			(422,958,692)			11,463,537			44,179,786
Net increase (decrease) in net assets			(273,596,070)			(356,105,206)			(69,685,133)			41,915,908
NET ASSETS:
Beginning of year or period			4,042,268,688			4,398,373,894			733,043,181			691,127,273
End of year or period		$	3,768,672,618		$	4,042,268,688		$	663,358,048		$	733,043,181
Undistributed (distributions in excess of) net investment income or accumulated net investment loss at end of year or period		$	4,800,337		$	(1,371,433)		$	753,529		$	3,065,070

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited)

Selected data for a share of beneficial interest outstanding throughout each year or period.

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Balanced Portfolio
Class I
06-30-18		16.69		0.18•		(0.31)		(0.13)		0.36		1.20		—		1.56		—		15.00		(0.88)		0.67		0.67		0.67		2.21		394,148		100
12-31-17		14.93		0.32•		1.85		2.17		0.41		—		—		0.41		—		16.69		14.73		0.67		0.65		0.65		2.01		425,002		174
12-31-16		14.10		0.30•		0.78		1.08		0.25		—		—		0.25		—		14.93		7.82		0.67		0.62		0.62		2.09		417,376		184
12-31-15		14.64		0.28•		(0.54)		(0.26)		0.28		—		—		0.28		—		14.10		(1.86)		0.67		0.62		0.62		1.90		438,912		193
12-31-14		14.01		0.31•		0.55		0.86		0.23		—		—		0.23		—		14.64		6.22		0.63		0.63		0.63		2.18		507,213		192
12-31-13		12.27		0.28•		1.74		2.02		0.28		—		—		0.28		—		14.01		16.71		0.64		0.64		0.64		2.13		538,114		210
Class S
06-30-18		16.59		0.16•		(0.31)		(0.15)		0.31		1.20		—		1.51		—		14.93		(1.00)		0.92		0.92		0.92		1.95		3,127		100
12-31-17		14.85		0.28•		1.82		2.10		0.36		—		—		0.36		—		16.59		14.37		0.92		0.90		0.90		1.76		3,560		174
12-31-16		14.01		0.26•		0.79		1.05		0.21		—		—		0.21		—		14.85		7.62		0.92		0.87		0.87		1.84		3,738		184
12-31-15		14.55		0.24•		(0.54)		(0.30)		0.24		—		—		0.24		—		14.01		(2.14)		0.92		0.87		0.87		1.65		4,058		193
12-31-14		13.92		0.28•		0.55		0.83		0.20		—		—		0.20		—		14.55		5.99		0.88		0.88		0.88		1.94		4,797		192
12-31-13		12.20		0.24•		1.73		1.97		0.25		—		—		0.25		—		13.92		16.33		0.89		0.89		0.89		1.88		5,829		210
Voya Global Equity Portfolio
Class ADV
06-30-18		11.02		0.13•		(0.33)		(0.20)		0.17		—		—		0.17		—		10.65		(1.84)(a)		1.12		1.11		1.11		2.46		17,970		108
12-31-17		9.12		0.14•		1.95		2.09		0.19		—		—		0.19		—		11.02		23.10		1.10		1.10		1.10		1.43		19,605		60
12-31-16		8.85		0.16•		0.31		0.47		0.20		—		—		0.20		—		9.12		5.53		1.10		1.10		1.10		1.87		19,883		101
12-31-15		9.11		0.21•		(0.47)		(0.26)		—		—		—		—		—		8.85		(2.85)(b)		1.11		1.11		1.11		2.26		23,880		83
12-31-14		8.94		0.19		0.22		0.41		0.24		—		—		0.24		—		9.11		4.65		1.12		1.12		1.12		2.03		1,279		88
12-31-13		8.15		0.23•		0.85		1.08		0.29		—		—		0.29		—		8.94		13.46		1.27		1.28		1.28		2.70		1,312		122
Class I
06-30-18		11.13		0.16•		(0.33)		(0.17)		0.23		—		—		0.23		—		10.73		(1.57)(a)		0.62		0.61		0.61		2.96		150,095		108
12-31-17		9.21		0.20•		1.96		2.16		0.24		—		—		0.24		—		11.13		23.73		0.60		0.60		0.60		1.91		162,746		60
12-31-16		8.94		0.21•		0.31		0.52		0.25		—		—		0.25		—		9.21		6.00		0.60		0.60		0.60		2.36		150,824		101
03-05-15(5) - 12-31-15		9.63		0.22•		(0.85)		(0.63)		0.06		—		—		0.06		—		8.94		(6.64)(b)		0.61		0.61		0.61		2.78		165,749		83
Class S
06-30-18		11.12		0.15•		(0.34)		(0.19)		0.20		—		—		0.20		—		10.73		(1.75)(a)		0.87		0.86		0.86		2.70		436,698		108
12-31-17		9.20		0.17•		1.96		2.13		0.21		—		—		0.21		—		11.12		23.44		0.85		0.85		0.85		1.67		480,936		60
12-31-16		8.93		0.19•		0.31		0.50		0.23		—		—		0.23		—		9.20		5.76		0.85		0.85		0.85		2.11		485,551		101
12-31-15		9.20		0.22•		(0.44)		(0.22)		0.05		—		—		0.05		—		8.93		(2.47)(b)		0.86		0.86		0.86		2.38		558,519		83
12-31-14		9.03		0.21•		0.22		0.43		0.26		—		—		0.26		—		9.20		4.87		0.87		0.87		0.87		2.28		168,482		88
12-31-13		8.23		0.25•		0.85		1.10		0.30		—		—		0.30		—		9.03		13.63		1.02		1.03		1.03		2.96		179,327		122
Class S2
06-30-18		10.95		0.13•		(0.33)		(0.20)		0.18		—		—		0.18		—		10.57		(1.84)(a)		1.02		1.01		1.01		2.48		352		108
12-31-17		9.07		0.15•		1.94		2.09		0.21		—		—		0.21		—		10.95		23.29		1.00		1.00		1.00		1.46		422		60
12-31-16		8.80		0.18		0.30		0.48		0.21		—		—		0.21		—		9.07		5.64		1.03		1.00		1.00		1.98		278		101
03-05-15(5) - 12-31-15		9.52		0.14•		(0.80)		(0.66)		0.06		—		—		0.06		—		8.80		(7.04)(b)		1.11		1.01		1.01		1.86		288		83

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Global Equity Portfolio (continued)
Class T
06-30-18		10.96		0.13•		(0.33)		(0.20)		0.16		—		—		0.16		—		10.60		(1.90)(a)		1.37		1.21		1.21		2.35		36,325		108
12-31-17		9.07		0.13•		1.93		2.06		0.17		—		—		0.17		—		10.96		22.95		1.35		1.20		1.20		1.30		39,544		60
12-31-16		8.80		0.16•		0.30		0.46		0.19		—		—		0.19		—		9.07		5.41		1.35		1.20		1.20		1.79		41,291		101
03-05-15(5) - 12-31-15		9.52		0.17•		(0.83)		(0.66)		0.06		—		—		0.06		—		8.80		(7.04)(b)		1.36		1.21		1.21		2.21		53,997		83
Voya Government Money Market Portfolio
Class I
06-30-18		1.00		0.01		0.00*		0.01		0.01		0.00*		—		0.01		—		1.00		0.65		0.39		0.34		0.34		1.28		420,868		—
12-31-17		1.00		0.01		0.00*		0.01		0.01		0.00*		—		0.01		—		1.00		0.61		0.39		0.34		0.34		0.58		438,591		—
12-31-16		1.00		0.00*		0.00*		0.00*		0.00*		0.00*		—		0.00*		—		1.00		0.18		0.39		0.34		0.34		0.08		504,575		—
12-31-15		1.00		0.00*		0.00*		0.00*		0.00*		0.00*		—		0.00*		—		1.00		0.01		0.38		0.22		0.22		0.00*		541,132		—
12-31-14		1.00		—		0.00*		0.00		—		0.00*		—		0.00*		—		1.00		0.02		0.34		0.19		0.19		0.00		616,745		—
12-31-13		1.00		(0.00)*		0.00*		0.00*		—		0.00*		—		0.00*		—		1.00		0.02		0.34		0.23		0.23		0.00		768,521		—
Class S
06-30-18		1.00		0.01		0.00*		0.01		0.01		0.00*		—		0.01		—		1.00		0.57		0.64		0.49		0.49		1.14		46		—
12-31-17		1.00		0.00*		0.00*		0.00*		0.00*		0.00*		—		0.00*		—		1.00		0.46		0.64		0.49		0.49		0.39		44		—
12-31-16		1.00		0.00*		0.00*		0.00		0.00*		0.00*		—		0.00*		—		1.00		0.10		0.64		0.38		0.38		0.00*		82		—
12-31-15		1.00		(0.00)*		0.00*		0.00*		—		0.00*		—		0.00*		—		1.00		0.01		0.63		0.22		0.22		0.00		85		—
12-31-14		1.00		—		0.00*		0.00		—		0.00*		—		0.00*		—		1.00		0.02		0.59		0.19		0.19		0.00		106		—
12-31-13		1.00		—		0.00*		0.00		—		0.00*		—		0.00*		—		1.00		0.02		0.59		0.23		0.23		0.00		138		—
Voya Growth and Income Portfolio
Class ADV
06-30-18		28.94		0.18•		0.06		0.24		—		1.03		—		1.03		—		28.15		0.81		1.13		1.03		1.03		1.28		941,981		41
12-31-17		27.51		0.36•		5.06		5.42		0.41		3.58		—		3.99		—		28.94		19.79		1.13		1.03		1.03		1.21		1,010,017		80
12-31-16		27.81		0.40•		2.10		2.50		0.43		2.37		—		2.80		—		27.51		9.25		1.13		1.03		1.03		1.44		1,064,550		98
12-31-15		30.28		0.44•		(0.96)		(0.52)		0.47		1.48		—		1.95		—		27.81		(1.82)		1.13		1.03		1.03		1.46		1,145,072		53
12-31-14		31.36		0.49•		2.77		3.26		0.52		3.82		—		4.34		—		30.28		10.19		1.08		1.03		1.03		1.49		1,348,687		87
12-31-13		24.31		0.22•		7.09		7.31		0.26		—		—		0.26		—		31.36		30.07		1.09		1.04		1.04		0.80		1,441,995		49
Class I
06-30-18		29.37		0.25•		0.06		0.31		—		1.03		—		1.03		—		28.65		1.04		0.63		0.58		0.58		1.73		1,803,710		41
12-31-17		27.87		0.51•		5.13		5.64		0.56		3.58		—		4.14		—		29.37		20.34		0.63		0.58		0.58		1.66		1,906,723		80
12-31-16		28.13		0.54•		2.14		2.68		0.57		2.37		—		2.94		—		27.87		9.77		0.63		0.58		0.58		1.89		1,778,873		98
12-31-15		30.63		0.59•		(0.99)		(0.40)		0.62		1.48		—		2.10		—		28.13		(1.42)		0.63		0.58		0.58		1.91		1,872,684		53
12-31-14		31.67		0.64•		2.82		3.46		0.68		3.82		—		4.50		—		30.63		10.72		0.58		0.58		0.58		1.94		2,140,398		87
12-31-13		24.54		0.35•		7.17		7.52		0.39		—		—		0.39		—		31.67		30.66		0.59		0.59		0.59		1.25		2,182,314		49
Class S
06-30-18		28.97		0.21•		0.06		0.27		—		1.03		—		1.03		—		28.21		0.92		0.88		0.83		0.83		1.48		520,780		41
12-31-17		27.53		0.42•		5.07		5.49		0.47		3.58		—		4.05		—		28.97		20.06		0.88		0.83		0.83		1.41		556,169		80
12-31-16		27.83		0.46•		2.10		2.56		0.49		2.37		—		2.86		—		27.53		9.45		0.88		0.83		0.83		1.64		607,941		98
12-31-15		30.31		0.51•		(0.97)		(0.46)		0.54		1.48		—		2.02		—		27.83		(1.64)		0.88		0.83		0.83		1.66		662,075		53
12-31-14		31.38		0.56•		2.78		3.34		0.59		3.82		—		4.41		—		30.31		10.44		0.83		0.83		0.83		1.70		794,327		87
12-31-13		24.32		0.28•		7.10		7.38		0.32		—		—		0.32		—		31.38		30.34		0.84		0.84		0.84		1.00		865,453		49

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Growth and Income Portfolio (continued)
Class S2
06-30-18		28.65		0.19•		0.05		0.24		—		1.03		—		1.03		—		27.86		0.82		1.03		0.98		0.98		1.33		426		41
12-31-17		27.27		0.38•		5.01		5.39		0.43		3.58		—		4.01		—		28.65		19.89		1.03		0.98		0.98		1.27		412		80
12-31-16		27.60		0.42		2.08		2.50		0.46		2.37		—		2.83		—		27.27		9.30		1.06		0.98		0.98		1.50		370		98
12-31-15		30.11		0.47•		(0.97)		(0.50)		0.53		1.48		—		2.01		—		27.60		(1.78)		1.13		0.98		0.98		1.56		346		53
12-31-14		31.05		0.54•		2.70		3.24		0.36		3.82		—		4.18		—		30.11		10.24		1.08		0.98		0.98		1.68		314		87
12-31-13		24.08		0.22		7.04		7.26		0.29		—		—		0.29		—		31.05		30.17		1.09		0.99		0.99		0.85		1,167		49
Voya Intermediate Bond Portfolio
Class ADV
06-30-18		12.73		0.19•		(0.46)		(0.27)		0.17		—		—		0.17		—		12.29		(2.12)		1.03		1.03		1.03		3.10		291,318		93
12-31-17		12.53		0.34		0.22		0.56		0.36		—		—		0.36		—		12.73		4.53		1.03		1.02		1.02		2.67		311,323		300
12-31-16		12.40		0.33		0.16		0.49		0.36		—		—		0.36		—		12.53		3.92		1.03		0.98		0.98		2.58		311,448		296
12-31-15		12.81		0.34•		(0.34)		0.00*		0.41		—		—		0.41		—		12.40		(0.02)		1.03		0.98		0.98		2.62		319,732		346
12-31-14		12.42		0.38•		0.39		0.77		0.38		—		—		0.38		—		12.81		6.21		0.97		0.97		0.97		2.97		191,895		428
12-31-13		12.88		0.39		(0.47)		(0.08)		0.38		—		—		0.38		—		12.42		(0.62)		0.99		0.99		0.99		3.05		37,058		389
Class I
06-30-18		12.86		0.22•		(0.46)		(0.24)		0.20		—		—		0.20		—		12.42		(1.84)		0.53		0.53		0.53		3.60		1,044,117		93
12-31-17		12.66		0.41		0.22		0.63		0.43		—		—		0.43		—		12.86		5.04		0.53		0.52		0.52		3.17		1,117,794		300
12-31-16		12.52		0.40•		0.14		0.54		0.40		—		—		0.40		—		12.66		4.33		0.53		0.48		0.48		3.08		1,174,851		296
12-31-15		12.90		0.41•		(0.33)		0.08		0.46		—		—		0.46		—		12.52		0.60		0.53		0.48		0.48		3.14		1,248,125		346
12-31-14		12.50		0.44		0.39		0.83		0.43		—		—		0.43		—		12.90		6.67		0.47		0.47		0.47		3.46		958,412		428
12-31-13		12.96		0.45		(0.47)		(0.02)		0.44		—		—		0.44		—		12.50		(0.12)		0.49		0.49		0.49		3.57		846,916		389
Class S
06-30-18		12.78		0.21•		(0.46)		(0.25)		0.19		—		—		0.19		—		12.34		(1.98)		0.78		0.78		0.78		3.35		2,410,628		93
12-31-17		12.58		0.37		0.23		0.60		0.40		—		—		0.40		—		12.78		4.79		0.78		0.77		0.77		2.92		2,587,503		300
12-31-16		12.44		0.36•		0.16		0.52		0.38		—		—		0.38		—		12.58		4.16		0.78		0.73		0.73		2.83		2,887,280		296
12-31-15		12.83		0.37•		(0.34)		0.03		0.42		—		—		0.42		—		12.44		0.26		0.78		0.73		0.73		2.90		3,169,894		346
12-31-14		12.43		0.42•		0.38		0.80		0.40		—		—		0.40		—		12.83		6.48		0.72		0.72		0.72		3.21		3,477,973		428
12-31-13		12.89		0.44		(0.49)		(0.05)		0.41		—		—		0.41		—		12.43		(0.38)		0.74		0.74		0.74		3.31		1,140,317		389
Class S2
06-30-18		12.73		0.20•		(0.46)		(0.26)		0.18		—		—		0.18		—		12.29		(2.07)		0.93		0.93		0.93		3.20		22,609		93
12-31-17		12.53		0.35		0.22		0.57		0.37		—		—		0.37		—		12.73		4.63		0.93		0.92		0.92		2.77		25,649		300
12-31-16		12.40		0.34•		0.16		0.50		0.37		—		—		0.37		—		12.53		3.99		0.96		0.88		0.88		2.68		24,796		296
12-31-15		12.79		0.35•		(0.33)		0.02		0.41		—		—		0.41		—		12.40		0.17		1.03		0.88		0.88		2.75		29,217		346
12-31-14		12.43		0.37•		0.40		0.77		0.41		—		—		0.41		—		12.79		6.17		0.97		0.87		0.87		2.87		5,281		428
12-31-13		12.92		0.44		(0.50)		(0.06)		0.43		—		—		0.43		—		12.43		(0.44)		0.99		0.89		0.89		3.45		1,505		389
Voya Small Company Portfolio
Class ADV
06-30-18		20.95		(0.03)		0.62		0.59		0.02		3.27		—		3.29		—		18.25		2.89		1.39		1.39		1.39		(0.23)		7,993		38
12-31-17		21.20		(0.01)		2.12		2.11		—		2.36		—		2.36		—		20.95		10.69		1.38		1.37		1.37		(0.01)		7,817		74
12-31-16		18.99		(0.02)		4.13		4.11		—		1.90		—		1.90		—		21.20		23.84		1.38		1.33		1.33		(0.09)		6,463		71
12-31-15		22.49		(0.03)		(0.11)		(0.14)		—		3.36		—		3.36		—		18.99		(1.26)		1.39		1.34		1.34		(0.07)		5,615		45
12-31-14		23.94		(0.03)		1.26		1.23		—		2.68		—		2.68		—		22.49		6.00		1.34		1.34		1.34		(0.18)		5,861		30
12-31-13		19.13		(0.02)		6.64		6.62		0.01		1.80		—		1.81		—		23.94		37.04		1.34		1.34		1.34		(0.13)		7,233		36

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Financial Highlights (Unaudited) (continued)

			Income (loss) from investment operations						Less Distributions														Ratios to average net assets								Supplemental Data
	Net asset value, beginning of year or period		Net investment income (loss)		Net realized and unrealized gain (loss)		Total from investment operations		From net investment income		From net realized gains		From return of capital		Total distributions		Payment by affiliate		Net asset value, end of year or period		Total Return(1)		Expenses before reductions/additions(2)(3)(4)		Expenses net of fee waivers and/or recoupments if any(2)(3)(4)		Expenses net of all reductions/additions(2)(3)(4)		Net investment income (loss)(2)(3)		Net assets, end of year or period		Portfolio turnover rate
Year or period ended	($)		($)		($)		($)		($)		($)		($)		($)		($)		($)		(%)		(%)		(%)		(%)		(%)		($000’s)		(%)
Voya Small Company Portfolio (continued)
Class I
06-30-18		22.01		0.04		0.63		0.67		0.11		3.27		—		3.38		—		19.30		3.13		0.89		0.89		0.89		0.25		542,587		38
12-31-17		22.12		0.10		2.23		2.33		0.08		2.36		—		2.44		—		22.01		11.29		0.88		0.87		0.87		0.49		607,230		74
12-31-16		19.73		0.09		4.29		4.38		0.09		1.90		—		1.99		—		22.12		24.49		0.88		0.83		0.83		0.41		545,125		71
12-31-15		23.25		0.09		(0.13)		(0.04)		0.12		3.36		—		3.48		—		19.73		(0.79)		0.89		0.84		0.84		0.43		487,778		45
12-31-14		24.63		0.08		1.31		1.39		0.09		2.68		—		2.77		—		23.25		6.54		0.84		0.84		0.84		0.33		520,298		30
12-31-13		19.63		0.08•		6.84		6.92		0.12		1.80		—		1.92		—		24.63		37.76		0.84		0.84		0.84		0.38		571,880		36
Class R6
06-30-18		22.01		0.03•		0.65		0.68		0.11		3.27		—		3.38		—		19.31		3.17		0.89		0.89		0.89		0.27		7,383		38
12-31-17		22.13		0.11•		2.21		2.32		0.08		2.36		—		2.44		—		22.01		11.23		0.88		0.87		0.87		0.53		6,274		74
12-31-16		19.74		0.10•		4.28		4.38		0.09		1.90		—		1.99		—		22.13		24.49		0.88		0.83		0.83		0.50		2,694		71
11-24-15(5) -
12-31-15		20.56		0.02•		(0.84)		(0.82)		—		—		—		—		—		19.74		(3.99)		0.89		0.84		0.84		0.99		3		45
Class S
06-30-18		21.46		0.00*		0.63		0.63		0.05		3.27		—		3.32		—		18.77		2.99		1.14		1.14		1.14		0.01		105,395		38
12-31-17		21.63		0.05•		2.17		2.22		0.03		2.36		—		2.39		—		21.46		11.00		1.13		1.12		1.12		0.22		111,723		74
12-31-16		19.33		0.03		4.21		4.24		0.04		1.90		—		1.94		—		21.63		24.16		1.13		1.08		1.08		0.16		136,845		71
12-31-15		22.84		0.03		(0.12)		(0.09)		0.06		3.36		—		3.42		—		19.33		(1.02)		1.14		1.09		1.09		0.18		110,685		45
12-31-14		24.24		0.02		1.28		1.30		0.02		2.68		—		2.70		—		22.84		6.26		1.09		1.09		1.09		0.08		115,635		30
12-31-13		19.35		0.03		6.72		6.75		0.06		1.80		—		1.86		—		24.24		37.37		1.09		1.09		1.09		0.12		126,746		36

(1)

(2)

Annualized for periods less than one year.

(3)

(4)

Ratios do not include fees and expenses charged under the variable annuity contract or variable life insurance policy.

(5)

Commencement of operations.

(a)

Excluding amounts related to a transition cost reimbursement recorded in the period ended June 30, 2018, Global Equity’s total return would have been (1.95)%, (1.68)%, (1.86)%, (1.95)% and (2.01)% for Class ADV, I, S, S2 and T, respectively.

(b)

Excluding amounts related to a foreign currency settlement recorded in the fiscal year ended December 31, 2015, Global Equity’s total return would have been (2.96)%, (6.85)%, (2.69)%, (7.14)% and (7.25)% for Classes ADV, I, S, S2 and T, respectively.

•

Calculated using average number of shares outstanding throughout the year or period.

Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited)

NOTE 1 — ORGANIZATION

As further detailed below, the Voya Variable Product Funds are series of Voya Balanced Portfolio, Inc., Voya Variable Funds, Voya Variable Portfolios, Inc., Voya Intermediate Bond Portfolio, and Voya Government Money Market Portfolio (collectively, the “Registrants”), all of which are open-end investment management companies registered under the Investment Company Act of 1940, as amended (“1940 Act”).

Voya Balanced Portfolio, Inc. is a company incorporated under the laws of Maryland on December 14, 1988 with one diversified series, Voya Balanced Portfolio (“Balanced”). Voya Variable Funds is a business trust formed under the laws of Massachusetts on January 25, 1984 with one diversified series, Voya Growth and Income Portfolio (“Growth and Income”). Voya Variable Portfolios, Inc. is a company incorporated under the laws of Maryland on June 4, 1996 and has nineteen active separate investment series. The two diversified series of Voya Variable Portfolios, Inc. included in this report are Voya Global Equity Portfolio (“Global Equity”) and Voya Small Company Portfolio (“Small Company”). Voya Intermediate Bond Portfolio is a business trust formed under the laws of Massachusetts on January 25, 1984 with one diversified series, Voya Intermediate Bond Portfolio (“Intermediate Bond”). Voya Government Money Market Portfolio is a business trust formed under the laws of Massachusetts on January 25, 1984 with one diversified series, Voya Government Money Market Portfolio (“Government Money Market”). Each of the Voya Variable Product Funds is a “Portfolio” and collectively, they are the “Portfolios.” The investment objective of the Portfolios is described in the respective Portfolio’s Prospectus.

The classes of shares included in this report are: Adviser (“Class ADV”), Class I, Class R6, Class S, Service 2 (“Class S2”) and Class T; however, each Portfolio may not offer all share classes. With the exception of class specific matters, each class has equal voting rights as to voting privileges. For class specific proposals, only the applicable class would have voting privileges. The classes differ principally in the applicable distribution and shareholder service fees. Generally, shareholders of each class also bear certain expenses that pertain to that particular class. All shareholders are allocated the common expenses of a portfolio and earn income and realized gains/losses from a portfolio pro rata based on the daily ending net assets of each class, without distinction between share classes. Expenses that are specific to a portfolio or a class are charged directly to that portfolio or class. Other operating expenses shared by several portfolios are generally allocated among those portfolios based on average net assets. Distributions are determined separately for each

class based on income and expenses allocated to each class. Realized gain distributions are allocated to each class pro rata based on the shares outstanding of each class on the date of distribution. Differences in per share dividend rates generally result from differences in separate class expenses, including distribution and shareholder service fees, if applicable.

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies are consistently followed by the Portfolios in the preparation of their financial statements. Each Portfolio is considered an investment company under U.S. generally accepted accounting principles (“GAAP”) and follows the accounting and reporting guidance applicable to investment companies.

A. Security Valuation. Each Portfolio is open for business every day the New York Stock Exchange (“NYSE”) opens for regular trading (each such day, a “Business Day”). The net asset value (“NAV”) per share for each class of each Portfolio, (except Government Money Market), is determined each Business Day as of the close of the regular trading session (“Market Close”), as determined by the Consolidated Tape Association (“CTA”), the central distributor of transaction prices for exchange-traded securities (normally 4:00 p.m. Eastern time unless otherwise designated by the CTA). The data reflected on the consolidated tape provided by the CTA is generated by various market centers, including all securities exchanges, electronic communications networks, and third-market broker-dealers. The NAV per share of each class of each Portfolio is calculated by taking the value of the Portfolio’s assets attributable to that class, subtracting the Portfolio’s liabilities attributable to that class, and dividing by the number of shares of that class that are outstanding. On days when a Portfolio is closed for business, Portfolio shares will not be priced and a Portfolio does not transact purchase and redemption orders. To the extent a Portfolio’s assets are traded in other markets on days when a Portfolio does not price its shares, the value of a Portfolio’s assets will likely change and you will not be able to purchase or redeem shares of a Portfolio.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

When a market quotation is not readily available or is deemed unreliable, each Portfolio will determine a fair value for the relevant asset in accordance with procedures adopted by the Portfolios’ Board of Directors/Trustees (“Board”). Such procedures provide, for example, that: (a) Exchange-traded securities are valued at the mean of the closing bid and ask; (b) Debt obligations are valued using an evaluated price provided by an independent pricing service. Evaluated prices provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect factors such as institution-size trading in similar groups of securities, developments related to specific securities, benchmark yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data; (c) Securities traded in the over-the-counter (“OTC”) market are valued based on prices provided by independent pricing services or market makers; (d) Options not listed on an exchange are valued by an independent source using an industry accepted model, such as Black-Scholes; (e) Centrally cleared swap agreements are valued using a price provided by the central counterparty clearinghouse; (f) OTC swap agreements are valued using a price provided by an independent pricing service; (g) Forward foreign currency exchange contracts are valued utilizing current and forward rates obtained from an independent pricing service. Such prices from the third party pricing service are for specific settlement periods and each Portfolio’s forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent period reported by the

independent pricing service; and (h) Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by brokers.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity. Because of the inherent uncertainties of fair valuation, the values used to determine each Portfolio’s NAV may materially differ from the value received upon actual sale of those investments. Thus, fair valuation may have an unintended dilutive or accretive effect on the value of shareholders’ investments in each Portfolio.

Government Money Market uses the amortized cost method to value its portfolio securities and seeks to maintain a constant NAV of $1.00 per share, although there may be circumstances under which this goal cannot be achieved. The amortized cost method involves valuing a security at its cost and amortizing any discount or premium over the period until maturity, regardless of the impact of fluctuating interest rates or the market value of the security. Although the Board has established procedures designed to stabilize, to the extent reasonably possible, the share price of Government Money Market, there can be no assurance that the Portfolio’s NAV can be maintained at $1.00 per share.

Each investment asset or liability of the Portfolios is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as “Level 1,” inputs other than quoted prices for an asset or liability that are observable are classified as “Level 2” and significant unobservable inputs, including the Sub-Adviser’s or Pricing Committee’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing the Portfolios’ investments under these levels of classification is included following the Portfolio of Investments.

GAAP requires a reconciliation of the beginning to ending balances for reported fair values that presents changes attributable to total realized and unrealized gains or losses, purchases and sales, and transfers in or out of the Level 3 category during the period. The beginning of period timing recognition is used for the transfers between levels of the Portfolio’s assets and liabilities. A reconciliation of Level 3 investments is presented only when a Portfolio has a significant amount of Level 3 investments.

B. Securities Transactions and Revenue Recognition. Securities transactions are accounted for on the trade date. Realized gains and losses are reported on the basis of

identified cost of securities sold. Interest income is recorded on an accrual basis. Dividend income is recorded on the ex-dividend date, or for certain foreign securities, when the information becomes available to the Portfolios. Premium amortization and discount accretion are determined by the effective yield method.

C. Foreign Currency Translation. The books and records of the Portfolios are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:

(1)

Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at Market Close.

(2)

Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

D. Risk Exposures and the Use of Derivative Instruments. Certain Portfolios’ investment strategies permit the Portfolios to enter into various types of derivatives contracts, including, but not limited to, futures contracts, forward foreign currency exchange contracts, credit default swaps, interest rate swaps, total return swaps, and purchased and written options. In doing so, a Portfolio will employ strategies in differing combinations to permit it to increase or decrease the level of risk, or change the level or types of exposure to risk factors. This may allow a Portfolio to pursue its objectives more quickly and efficiently than if it were to make direct purchases or sales of securities capable of affecting a similar response to market or credit factors.

In pursuit of its investment objectives, a Portfolio may seek to increase or decrease its exposure to the following market or credit risk factors:

Currency rates may fluctuate significantly over short periods of time. Currency rates may be affected by

changes in market interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities such as the International Monetary Fund, by the imposition of currency controls, or other political or economic developments in the United States or abroad.

Risks of Investing in Derivatives. A Portfolio’s use of derivatives can result in losses due to unanticipated changes in the market or credit risk factors and the overall market. In instances where a Portfolio is using derivatives to decrease, or hedge, exposures to market or credit risk factors for securities held by a Portfolio, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions.

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

intended benefits. When used for hedging purposes, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. When used as an alternative or substitute for direct cash investments, the return provided by the derivative may not provide the same return as direct cash investment. In addition, given their complexity, derivatives expose a Portfolio to the risk of improper valuation.

weaken their financial position. A Portfolio intends to enter into financial transactions with counterparties that they believe to be creditworthy at the time of the transaction. To reduce this risk, a Portfolio has entered into master netting arrangements, established within each Portfolio’s International Swap and Derivatives Association, Inc. Master Agreements (“Master Agreements”). These Master Agreements are with select counterparties and they govern transactions, including certain OTC derivative and forward foreign currency contracts, entered into by a Portfolio and the counterparty. The Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable Master Agreement.

As of June 30, 2018, the maximum amount of loss that Balanced and Intermediate Bond would incur if the counterparties to their derivative transactions failed to perform would be $147,794 and $7,106,743, respectively, which represents the gross payments to be received by the Portfolios on open forward foreign currency contracts and forward premium swaptions were they to be unwound as of June 30, 2018. At June 30, 2018, Intermediate Bond had received $4,107,000 in cash collateral from counterparties for open OTC derivatives.

Each Portfolio has credit-related contingent features that if triggered would allow its derivative counterparties to close out and demand payment or additional collateral to cover their exposure from a Portfolio. Credit-related contingent features are established between each Portfolio and their derivatives counterparties to reduce the risk that a Portfolio will not fulfill its payment obligations to its counterparties. These triggering features include, but are not limited to, a percentage decrease in a Portfolio’s net assets and/or a percentage decrease in a Portfolio’s NAV, which could cause a Portfolio to accelerate payment of any net liability owed to the counterparty. The contingent features are established within each Portfolio’s Master Agreements.

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

As of June 30, 2018, Balanced and Intermediate Bond had a liability position of $28,183 and $1,310,907, respectively, on open forward foreign currency contracts with credit related contingent features. If a contingent feature would have been triggered as of June 30, 2018, these Portfolios could have been required to pay these amounts in cash to their counterparties. The Portfolios did not pledge any cash collateral for OTC derivatives as of June 30, 2018.

E. Forward Foreign Currency Transactions and Futures Contracts. Certain Portfolios may enter into foreign currency exchange transactions to convert to and from different foreign currencies and to and from the U.S. dollar in connection with the planned purchases or sales of securities. When entering into a forward foreign currency contract, a Portfolio agrees to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed upon future date. A Portfolio either enters into these transactions on a spot basis at the spot rate prevailing in the foreign currency exchange market or uses forward foreign currency contracts to purchase or sell foreign currencies. When the contract is fulfilled or closed, gains or losses are realized. Until then, the gain or loss is included in unrealized appreciation or depreciation. Risks may arise upon entering into forward contracts from the potential inability of counterparties to meet the terms of their forward contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar.

During the period ended June 30, 2018, the following Portfolios had average contract amounts on forward foreign currency contracts purchased and sold as disclosed below:

	Purchased			Sold
Balanced		$	617,587		$	3,136,961
Intermediate Bond			20,560,369			107,213,121

The above Portfolios entered into forward foreign currency contracts to protect their non-U.S. dollar-denominated holdings from adverse currency movements. Please refer to the tables following each respective Portfolio of Investments for open forward foreign currency contracts at June 30, 2018.

Each Portfolio, with the exception of Government Money Market, may enter into futures contracts involving foreign currency, interest rates, securities and security indices. A futures contract is a commitment to buy or sell a specific amount of a financial instrument at a negotiated price on a stipulated future date. A Portfolio may buy and sell futures contracts. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as

reported by such principal exchange at its trading session ending at, or most recently prior to, the time when each Portfolio’s assets are valued.

Upon entering into a futures contract, a Portfolio is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by a Portfolio each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses. Open futures contracts are reported on a table following each Portfolio’s Portfolio of Investments. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts are footnoted in the Portfolio of Investments. Cash collateral held by the broker to cover initial margin requirements on open futures contracts are noted in the Statements of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in the Statements of Operations. Realized gains (losses) are reported in the Statements of Operations at the closing or expiration of futures contracts.

Futures contracts are exposed to the market risk factor of the underlying financial instrument. During the period ended June 30, 2018, Balanced and Intermediate Bond have purchased and sold futures contracts on various bonds and notes. Balanced and Intermediate Bond purchased and sold futures on bonds and notes as part of their duration management. Balanced and Global Equity entered into equity futures to “equitize” cash. Additional associated risks of entering into futures contracts include the possibility that there may be an illiquid market where a Portfolio is unable to liquidate the contract or enter into an offsetting position and, if used for hedging purposes, the risk that the price of the contract will correlate imperfectly with the prices of a Portfolio’s securities. With futures, there is minimal counterparty credit risk to the Portfolios since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default. During the period ended June 30, 2018, the following Portfolios had average notional values on futures contracts purchased and sold as disclosed below:

	Purchased			Sold
Balanced		$	49,074,408		$	12,978,716
Global Equity			26,567,800			—
Intermediate Bond			728,128,874			431,765,246

Please refer to the tables following each respective Portfolio of Investments for the above Portfolios’ open futures contracts at June 30, 2018.

F. Options Contracts. Certain Portfolios may write call and put options on futures, swaps (“swaptions”), securities, commodities or foreign currencies it owns or in which it

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may invest. Writing put options tends to increase the Portfolios exposure to the underlying instrument. Writing call options tends to decrease the Portfolios exposure to the underlying instrument. When a Portfolio writes a call or put option, an amount equal to the premium received is recorded as a liability and subsequently marked to market to reflect the current value of the option written. These liabilities are reflected as written options outstanding on the Statements of Assets and Liabilities. Forward premium swaptions include premiums that have extended settlement dates. The delayed settlement of the premiums is factored into the daily valuation of the option contracts. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying futures, swap, security or currency transaction to determine the realized gain or loss. A Portfolio as a writer of an option has no control over whether the underlying instrument may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the instrument underlying the written option. There is the risk the Portfolios may not be able to enter into a closing transaction because of an illiquid market. The Portfolios may also purchase put and call options. Purchasing call options tends to increase the Portfolios’ exposure to the underlying instrument. Purchasing put options tends to decrease the Portfolios exposure to the underlying instrument. The Portfolios pay a premium which is included on the Statements of Assets and Liabilities as an investment and subsequently marked to market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. The risk associated with purchasing put and call options is limited to the premium paid. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss.

During the period ended June 30, 2018, Balanced and Intermediate Bond had purchased forward premium swaptions to manage duration and yield curve exposures. Please refer to the tables following the Portfolios of investments for open purchased forward premium swaptions at June 30, 2018.

Please refer to Note 11 for the volume of purchased option activity during the period ended June 30, 2018.

G. Distributions to Shareholders. The Portfolios record distributions to their shareholders on the ex-dividend date. Each Portfolio distributes capital gains, if any, annually. Balanced and Small Company declare and pay dividends, if any, annually. Growth and Income declares and pays dividends, if any, semi-annually. Government Money Market and Intermediate Bond declare dividends daily and pay dividends, if any, monthly. Global Equity declares and pays dividends, if any, quarterly. Prior to May 1, 2018, Global Equity declared and paid dividends, if any, annually. The Portfolios may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code. The characteristics of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from GAAP for investment companies.

H. Federal Income Taxes. It is the policy of the Portfolios to comply with the requirements of subchapter M of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of their net investment income and any net realized capital gains to its shareholders. Therefore, a federal income tax or excise tax provision is not required. Management has considered the sustainability of the Portfolios’ tax positions taken on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized or expire.

The Portfolios may utilize equalization accounting for tax purposes, whereby a portion of redemption payments are treated as distributions of income or gain.

I. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

J. Repurchase Agreements. Each Portfolio may invest in repurchase agreements only with government securities dealers recognized by the Board of Governors of the Federal Reserve System. Under such agreements, the seller of the security agrees to repurchase it at a mutually agreed upon time and price. The resale price is in excess of the purchase price and reflects an agreed upon interest rate for the period of time the agreement is outstanding. The period of the repurchase agreements is usually short, from overnight to one week, while the underlying securities generally have longer maturities. Each Portfolio will receive as collateral securities acceptable to it whose market value

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is equal to at least 100% of the carrying amount of the repurchase agreements, plus accrued interest, being invested by the Portfolio. The underlying collateral is valued daily on a mark-to-market basis to assure that the value, including accrued interest is at least equal to the repurchase price. There would be potential loss to the Portfolio in the event the Portfolio is delayed or prevented from exercising its right to dispose of the collateral, and it might incur disposition costs in liquidating the collateral.

Repurchase agreements are entered into by the Portfolios under Master Repurchase Agreements (“MRA”) which permit the Portfolios, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset receivables or payables under the MRA with collateral held and/or pledged by the counterparty and create one single net payment due to or from the respective Portfolio. Please refer to the table following the Portfolio of Investments for Government Money Market for open repurchase agreements subject to the MRA on a net basis at June 30, 2018.

K. Securities Lending. Each Portfolio (except Government Money Market) may temporarily loan up to 331∕3% of its total assets to brokers, dealers or other financial institutions in exchange for a negotiated lender’s fee. Securities lending involves two primary risks: “investment risk” and “borrower default risk.” When lending securities, the Portfolios will receive cash or U.S. government securities as collateral. Investment risk is the risk that the Portfolios will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolios will lose money due to the failure of a borrower to return a borrowed security. Loans are subject to termination at the option of the borrower or the Portfolios. Securities lending may result in leverage. The use of leverage may exaggerate any increase or decrease in the NAV, causing the Portfolios to be more volatile. The use of leverage may increase expenses and increase the impact of the Portfolios’ other risks.

market quotations, the securities are valued based upon their fair value determined in good faith under procedures approved by the Board.

M. When-Issued and Delayed-Delivery Transactions. Each Portfolio may purchase or sell securities on a when-issued or forward commitment basis. The price of the underlying securities and date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The fair value of such is identified in the Portfolio of Investments. Losses may arise due to changes in the fair value of the securities or from the inability of counterparties to meet the terms of the contract. In connection with such purchases, the Portfolios are required to hold liquid assets as collateral with the Portfolios’ custodian sufficient to cover the purchase price.

To mitigate counterparty risk, certain Portfolios have entered into Master Securities Forward Transaction Agreements (“MSFTA”) with their respective counterparties that provide for collateral and the right to offset amounts due to or from those counterparties under specified conditions. Subject to minimum transfer amounts, collateral requirements are determined and transfers made based on the net aggregate unrealized gain or loss on all the when-issued or delayed-delivery transactions with a particular counterparty. Cash collateral, if any, is presented on the Statement of Assets and Liabilities as an asset (Cash pledged as collateral for delayed-delivery or when-issued securities) and a liability (Cash received as collateral for delayed-delivery or when-issued securities). At June 30, 2018, Intermediate Bond had received $1,060,000 in cash collateral for open when-issued or delayed-delivery transactions.

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

N. Mortgage Dollar Roll Transactions. Each Portfolio, except Small Company, may engage in dollar roll transactions with respect to mortgage-backed securities issued by Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corp. In a dollar roll transaction, a Portfolio sells a mortgage-backed security to a financial institution, such as a bank or broker/dealer, and simultaneously agrees to repurchase a substantially similar (i.e., same type, coupon, and maturity) security from the institution on a delayed delivery basis at an agreed upon price. The mortgage-backed securities that are repurchased will bear the same interest rate as those sold, but generally will be collateralized by different pools of mortgages with different prepayment histories. The Portfolios account for dollar roll transactions as purchases and sales. For fee based roll transactions, the fee is recorded as income.

O. Swap Agreements. Certain Portfolios may enter into swap agreements. A swap is an agreement between two parties pursuant to which each party agrees to make one or more payments to the other at specified future intervals based on the return of an asset (such as a stock, bond or currency) or non-asset reference (such as an interest rate or index). Swap agreements are privately negotiated in the OTC market and may be executed in a multilateral or other trade facility platform, such as a registered commodities exchange (“centrally cleared swaps”). The swap agreement will specify the “notional” amount of the asset or non-asset reference to which the contract relates. Subsequent changes in fair value, if any, are calculated based upon changes in the performance of the asset or non-asset reference multiplied by the notional value of the contract. A Portfolio may enter into credit default, interest rate, total return and currency swaps to manage its exposure to credit, currency and interest rate risk. All outstanding swap agreements are reported following each Portfolio’s Portfolio of Investments.

Swaps are marked to market daily using quotations primarily from third party pricing services, counterparties or brokers. The value of the swap contract is recorded on each Portfolio’s Statement of Assets and Liabilities. During the term of the swap, changes in the value of the swap, if any, are recorded as unrealized gains or losses on the Statement of Operations. Upfront payments paid or received by a Portfolio when entering into the agreements are reported on the Statement of Assets and Liabilities and as a component of the changes in unrealized gains or losses on the Statement of Operations. These upfront payments represent the amounts paid or received when initially entering into the swap agreement to compensate for differences between the stated terms of the swap

agreement and the prevailing market conditions. The upfront payments are included as a component in the realized gains or losses on each Portfolio’s Statement of Operations upon termination or maturity of the swap. A Portfolio also records net periodic payments paid or received on the swap contract as a realized gain or loss on the Statement of Operations.

In a centrally cleared swap, immediately following execution of the swap agreement, the swap agreement is novated to a central counterparty (the “CCP”) and the Portfolio’s counterparty on the swap agreement becomes the CCP. The Portfolios are required to interface with the CCP through a broker. Upon entering into a centrally cleared swap, the Portfolios are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Securities deposited as initial margin are footnoted as pledged on the Portfolio of Investments and cash deposited is recorded on the Statements of Assets and Liabilities as cash pledged for centrally cleared swaps. The daily change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin in the Statements of Assets and Liabilities. Payments received from (paid to) the counterparty, including at termination, are recorded as realized gain (loss) on the Statements of Operations.

Entering into swap agreements involves the risk that the maximum potential loss of an investment exceeds the current value of the investment as reported on each Portfolio’s Statement of Assets and Liabilities. Other risks involve the possibility that the counterparty to the agreements may default on its obligation to perform, that there will be no liquid market for these investments and that unfavorable changes in the market will have a negative impact on the value of the index or securities underlying the respective swap agreement.

Credit Default Swap Contracts. A credit default swap is a bilateral agreement between counterparties in which the buyer of the protection agrees to make a stream of periodic payments to the seller of protection in exchange for the right to receive a specified return in the event of a default or other credit event for a referenced entity, obligation or index. As a seller of protection on credit default swaps, a Portfolio will generally receive from the buyer a fixed payment stream based on the notional amount of the swap contract. This fixed payment stream will continue until the swap contract expires or a defined credit event occurs.

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NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (continued)

sectors of the market. Certain Portfolios may also enter into credit default swaps to speculate on changes in an issuer’s credit quality, to take advantage of perceived spread advantages, or to offset an existing short equivalent (i.e. buying protection on an equivalent reference entity).

the quoted market prices and resulting fair values serve as the indicator of the current status of the payment/performance risk. Wider credit spreads and increasing fair values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

For the period ended June 30, 2018, Balanced and Intermediate Bond had bought and sold credit protection on credit default swap indices (“CDX”). A CDX is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. Balanced and Intermediate Bond used CDX swaps to gain additional exposure with various sectors of the credit market and to hedge the credit risk associated with various sectors within the credit market. Please refer to the tables following the Portfolio of Investments for Intermediate Bond for open credit default swaps to buy protection at June 30, 2018. Balanced did not have any open credit default swaps at June 30, 2018.

For the period ended June 30, 2018, Balanced had an average notional amount of $3,405,176 on credit default swaps to buy protection and an average notional amount of $4,954,000 on credit default swaps to sell protection. For the period ended June 30, 2018, Intermediate Bond had an average notional amount of $115,278,001 on credit default swaps to buy protection and an average notional amount of $148,890,000 on credit default swaps to sell protection.

Interest Rate Swap Contracts. An interest rate swap involves the agreement between counterparties to exchange periodic payments based on interest rates. One payment will be based on a floating rate of a specified interest rate while the other will be a fixed rate. Risks involve the future fluctuations of interest rates in which a Portfolio may make payments that are greater than what a Portfolio received from the counterparty. Other risks include credit, liquidity and market risk.

For the period ended June 30, 2018, Balanced and Intermediate Bond had entered into interest rate swaps in which they pay a floating interest rate and receive a fixed

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interest rate (“Long interest rate swap”) in order to increase exposure to interest rate risk. Average notional amounts on Long interest rate swaps were $7,500,000 and $532,351,333, respectively.

For the period ended June 30, 2018, Balanced and Intermediate Bond had entered into interest rate swaps in which they pay a fixed interest rate and receive a floating interest rate (“Short interest rate swap”) in order to decrease exposure to interest rate risk. Average notional amounts on Short interest rate swaps were $13,999,000 and $629,325,667, respectively.

Balanced and Intermediate Bond entered into interest rate swaps to adjust interest rate and yield curve exposures and to substitute for physical fixed-income securities. Please refer to the table following each respective Portfolio of Investments for Balanced and Intermediate Bond for open interest rate swaps at June 30, 2018.

At June 30, 2018, Balanced and Intermediate Bond had pledged $242,000 and $4,566,000, respectively, in cash collateral for open centrally cleared swaps.

P. Indemnifications. In the normal course of business, the Registrants may enter into contracts that provide certain indemnifications. The Registrants’ maximum exposure under these arrangements is dependent on future claims that may be made against the Portfolios and, therefore, cannot be estimated; however, based on experience, management considers the risk of loss from such claims remote.

NOTE 3 — INVESTMENT TRANSACTIONS

For the period ended June 30, 2018, the cost of purchases and the proceeds from the sales of securities, excluding short-term and U.S. government securities, were as follows:

	Purchases			Sales
Balanced		$	232,952,671		$	243,732,835
Global Equity			706,262,250			720,941,946
Growth and Income			1,371,155,508			1,541,515,483
Intermediate Bond			642,199,211			635,408,113
Small Company			262,130,969			347,866,187

U.S. government securities not included above were as follows:

	Purchases			Sales
Balanced		$	160,544,228		$	157,672,499
Intermediate Bond			3,212,924,212			3,138,625,381

NOTE 4 — INVESTMENT MANAGEMENT FEES

The Portfolios have entered into an investment management agreement (“Management Agreement”) with

the Investment Adviser. The Investment Adviser has overall responsibility for the management of the Portfolios. The Investment Adviser oversees all investment management and portfolio management services for the Portfolios and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Portfolios, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. This Management Agreement compensates the Investment Adviser with a management fee, computed daily and payable monthly, based on the average daily net assets of each Portfolio, at the following annual rates:

Portfolio			Fee
Balanced			0.60%
Global Equity			0.56% on the first $500 million;
			0.53% on the next $500 million;
			0.51% thereafter
Government Money Market(1)			0.35%
Growth and Income(1)			0.600% on the first $5 billion;
			0.550% on the next $5 billion; 0.525% thereafter
Intermediate Bond			0.50% on first $4 billion;
			0.48% on next $3 billion;
			0.46% thereafter
Small Company			0.85%

(1)

The Investment Adviser is contractually obligated to waive a portion of the management fee equal to 0.045% on the first $5 billion and 0.070% thereafter of the Portfolio’s average daily net assets. This waiver is not eligible for recoupment. Termination or modification of this obligation requires approval by the Board.

The Investment Adviser has entered into sub-advisory agreements with Voya IM with respect to each Portfolio. Voya IM provides investment advice for the Portfolios and is paid by the Investment Adviser based on the average daily net assets of each respective Portfolio. Subject to such policies as the Board or the Investment Adviser may determine, Voya IM manages the Portfolios’ assets in accordance with each Portfolio’s investment objectives, policies, and limitations.

NOTE 5 — DISTRIBUTION AND SERVICE FEES

Class ADV, Class S, Class S2 and Class T shares of the respective Portfolios are subject to a shareholder services and distribution plan or a distribution plan (each a “Plan” and collectively, the “Plans”). Pursuant to the Plans, the Distributor is entitled to a payment each month to compensate for expenses incurred in the distribution and promotion of the Portfolios’ shares, including expenses incurred in printing prospectuses and reports used for sales purposes, expenses incurred in preparing and printing sales literature and other such distribution related expenses, including any distribution or shareholder

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NOTE 5 — DISTRIBUTION AND SERVICE FEES (continued)

servicing fees paid to securities dealers who have executed a distribution agreement with the Distributor.

Under the Plans for Class ADV and Class S2 shares of the respective Portfolios, the Distributor is paid an annual shareholder service fee at the rate of 0.25% of each Portfolio’s average daily net assets attributable to its Class ADV and Class S2 shares. The Distributor is paid an annual distribution fee at the rate of 0.25% of the Portfolio’s average daily net assets attributable to its Class ADV shares and the Distributor is paid an annual distribution fee at the rate of 0.15% of the Portfolio’s average daily net assets attributable to its Class S2 shares. The Distributor has contractually agreed to waive 0.05% of the distribution fee for Class ADV shares of Growth and Income so that the actual fee paid by Class ADV shares of the Portfolio is an annual rate of 0.20%. Termination or modification of this obligation requires approval by the Board.

Under the Plan for Class S shares of the respective Portfolios, Class S shares of the Portfolios pay the Distributor a fee calculated at an annual rate of 0.25% of the Portfolio’s average daily net assets attributable to its Class S shares. For Government Money Market, the Distributor agreed to waive 0.10% of average daily net assets attributable to distribution fees for Class S shares, so that the actual fee paid by Class S shares of Government Money Market is an annual rate of 0.15%. Termination or modification of this obligation requires approval by the Board.

Under the Plan for Class T shares of Global Equity, the Distributor is paid an annual distribution fee at the rate of 0.50% of Global Equity’s average daily net assets attributable to Class T shares. The Distributor has contractually agreed to waive a portion of its fee equal to 0.15% of the average daily net assets attributable to the distribution fee paid by Class T shares of Global Equity, so that the actual fee paid by Class T shares of Global Equity is an annual rate of 0.35%. Termination or modification of this obligation requires approval by the Board.

Class T shares of Global Equity are subject to a shareholder servicing plan (“Service Plan”). The Service Plan allows the Distributor to enter into shareholder servicing agreements with insurance companies, broker dealers or other financial intermediaries that provide administrative services related to Class T and their shareholders including Variable Contract owners or Qualified Plan participants with interests in Global Equity. Under the Service Plan, the Portfolio makes payments to

the Distributor which shall not exceed an annual rate of 0.25% of the Portfolio’s average daily net assets attributable to its Class T shares.

The Distributor and the Investment Adviser have contractually agreed to waive a portion of their distribution and/or shareholder servicing fees and management fees, as applicable, and to reimburse certain expenses to the extent necessary to assist Government Money Market in maintaining a yield of not less than zero. There is no guarantee that the Portfolio will maintain such a yield. Management fees waived or expenses reimbursed are subject to possible recoupment by the Investment Adviser, as applicable, within three years subject to certain restrictions. For the period ended June 30, 2018, there were no waivers for the Portfolio to maintain a yield of not less than zero. Termination or modification of this obligation requires approval by the Board. Please note that these waivers or reimbursements are in addition to existing contractual expense limitations, if any.

As of June 30, 2018, amounts of waived fees that are subject to possible recoupment by the Investment Adviser, and the related expiration dates are as follows:

	June 30,
	2019			2020			2021			Total
Government Money Market		$	302,589		$	—		$	—		$	302,589

NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES

For the period ended June 30, 2018, Global Equity incurred $62,000 of costs associated with the transition to the Portfolio’s principal investment strategies, portfolio managers, dividend distribution frequency and expense limits. The Investment Adviser reimbursed the Portfolio for these costs.

For the period ended June 30, 2018, the Investment Adviser made a payment of $730,351 to reimburse Global Equity for trading costs and other transition related costs associated with the changes to the Portfolio’s principal investment strategies. Of the $730,351 payment, $240,021 was recorded as Net Realized Gain (Loss) on Investments in the accompanying Statement of Operations, $271,165 was recorded as Net Realized Gain (Loss) on Futures in the accompanying Statement of Operations and $219,165 was recorded against the cost basis of the securities purchased.

At June 30, 2018, the following direct or indirect, wholly-owned subsidiaries of Voya Financial, Inc. or affiliated investment company owned more than 5% of the following Portfolios:

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NOTE 6 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED PARTIES (continued)

Subsidiary/Affiliated Investment Company	Portfolio	Percentage
Voya Institutional Trust Company	Government Money Market		7.86%
	Intermediate Bond		9.54
	Small Company		9.64
Voya Insurance and Annuity Company	Global Equity		66.57
	Growth and Income		41.28
	Intermediate Bond		60.53
	Small Company		13.36
Voya Retirement Insurance and Annuity Company	Balanced		88.01
	Global Equity		21.55
	Government Money Market		89.56
	Growth and Income		52.14
	Intermediate Bond		25.05
	Small Company		52.79
Voya Solution Moderately Aggressive Portfolio	Small Company		5.90

The Portfolios have adopted a deferred compensation plan (the “DC Plan”), which allows eligible independent directors/trustees, as described in the DC Plan, to defer the receipt of all or a portion of the directors’/trustees’ fees that they are entitled to receive from the Portfolios. For purposes of determining the amount owed to the director/trustee under the DC Plan, the amounts deferred are invested in shares of the funds selected by the director/trustee (the “Notional Funds”). The Portfolios purchase shares of the Notional Funds, which are all advised by Voya Investments, in amounts equal to the directors’/trustees’ deferred fees, resulting in a Portfolio asset equal to the deferred compensation liability. Such assets are included as a component of “Other assets” on the accompanying Statements of Assets and Liabilities. Deferral of directors’/trustees’ fees under the DC Plan will not affect net assets of the Portfolios, and will not

materially affect the Portfolios’ assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the DC Plan.

NOTE 7 — LICENSING FEE

Effective January 1, 2018, S&P Opco, LLC receives an annual licensing fee from Balanced.

NOTE 8 — OTHER ACCRUED EXPENSES AND LIABILITIES

At June 30, 2018, the below Portfolio had the following payable included in Other Accrued Expenses and Liabilities on the Statements of Assets and Liabilities that exceeded 5% of total liabilities:

Portfolio	Accrued Expense	Amount
Government Money Market	Custody		$	19,083
	Postage			21,717

NOTE 9 — EXPENSE LIMITATION AGREEMENTS

The Investment Adviser has entered into a written expense limitation agreement (“Expense Limitation Agreement”) with the following Portfolios whereby the Investment Adviser has agreed to limit expenses, excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses, and acquired fund fees and expenses to the levels listed below:

Portfolio	Class ADV		Class I		Class R6		Class S		Class S2		Class T
Balanced		N/A		0.69%		N/A		0.94%		N/A		N/A
Global Equity		1.34%		0.84%		N/A		1.09%		1.24%		1.44%
Growth and Income		1.30%		0.70%		N/A		0.95%		1.10%		N/A
Intermediate Bond		1.03%		0.53%		N/A		0.78%		0.93%		N/A
Small Company		1.43%		0.93%		0.93%		1.18%		N/A		N/A

Pursuant to a side letter agreement through May 1, 2019, the Investment Adviser has further lowered the expense limits to the levels listed below. Any fees waived pursuant to the side letter agreement shall not be eligible for recoupment. If the Investment Adviser elects not to renew the side letter agreement, the expense limits will revert to the limits listed in the table above. There is no guarantee that the side letter agreement will continue. Termination or modification of this obligation requires approval by the Board.

Portfolio			Class ADV						Class I						Class S						Class S2						Class T
Global Equity(1)					1.10%						0.60%						0.85%						1.00%						1.20%

(1)

Prior to May 1, 2018, the side letter agreement expense limits were 1.11%, 0.61%, 0.86%, 1.01%, and 1.21% for Class ADV, Class I, Class S, Class S2 and Class T, respectively.

Unless otherwise specified above, the Investment Adviser may at a later date recoup from a Portfolio for fees waived and/or other expenses reimbursed by the Investment

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 9 — EXPENSE LIMITATION
AGREEMENTS (continued)

Adviser during the previous 36 months, but only if, after such recoupment, the Portfolio’s expense ratio does not exceed the percentage described above. Waived and reimbursed fees net of any recoupment by the Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statements of Operations. Amounts payable by the Investment Adviser are reflected on the accompanying Statements of Assets and Liabilities.

As of June 30, 2018, the Portfolios did not have any amount of waived and/or reimbursed fees that would be subject to possible recoupment by the Investment Adviser.

The Expense Limitation Agreements are contractual through May 1, 2019 and shall renew automatically for one-year terms. Termination or modification of these obligations requires approval by the Board.

NOTE 10 — LINE OF CREDIT

Borrowings under the Credit Agreement accrue interest at the federal funds rate plus a specified margin. Repayments generally must be made within 60 days after the date of a revolving credit advance.

The following Portfolios utilized the line of credit during the period ended June 30, 2018 and Global Equity had an outstanding balance of $817,000 at June 30, 2018:

Portfolio	Days Utilized		Approximate Average Daily Balance For Days Utilized			Approximate Weighted Average Interest Rate For Days Utilized
Global Equity		1		$	817,000		2.91%
Intermediate Bond		2			3,477,500		2.57
Small Company		7			29,038,857		2.70

NOTE 11 — PURCHASED AND WRITTEN OPTIONS

Transactions in purchased forward premium swaptions for Balanced during the period ended June 30, 2018 were as follows:

	USD Notional		Cost Payable
Balance at 12/31/2017		—		$	—
Options Purchased		12,900,000			—
Balance at 6/30/2018		12,900,000		$	—

Transactions in purchased forward premium swaptions for Intermediate Bond during the period ended June 30, 2018 were as follows:

	USD Notional		Cost Payable
Balance at 12/31/2017		—		$	—
Options Purchased		528,060,000			—
Balance at 6/30/2018		528,060,000		$	—

NOTE 12 — CAPITAL SHARES

Transactions in capital shares and dollars were as follows:

	Shares sold		Shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease) in shares outstanding		Shares sold		Proceeds from shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease)
Year or period ended	#		#		#		#		#		($)		($)		($)		($)		($)
Balanced
Class I
6/30/2018		166,849		—		2,512,798		(1,867,535)		812,112		2,746,118		—		38,219,666		(30,133,866)		10,831,918
12/31/2017		353,588		—		703,828		(3,536,426)		(2,479,010)		5,551,153		—		10,867,103		(55,854,629)		(39,436,373)
Class S
6/30/2018		713		—		19,105		(25,002)		(5,184)		11,612		—		289,442		(409,872)		(108,818)
12/31/2017		37,660		—		5,694		(80,542)		(37,188)		592,920		—		87,514		(1,272,469)		(592,035)
Global Equity
Class ADV
6/30/2018		28,146		—		26,563		(146,453)		(91,744)		302,904		—		289,533		(1,618,550)		(1,026,113)
12/31/2017		29,397		—		37,245		(468,169)		(401,527)		297,921		—		370,586		(4,706,714)		(4,038,207)
Class I
6/30/2018		102,099		—		294,638		(1,028,197)		(631,460)		1,141,357		—		3,232,174		(11,420,481)		(7,046,950)
12/31/2017		357,173		—		359,549		(2,472,669)		(1,755,947)		3,746,460		—		3,602,681		(25,164,373)		(17,815,232)

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 12 — CAPITAL SHARES (continued)

	Shares sold		Shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease) in shares outstanding		Shares sold		Proceeds from shares issued in merger		Reinvestment of distributions		Shares redeemed		Net increase (decrease)
Year or period ended	#		#		#		#		#		($)		($)		($)		($)		($)
Global Equity (continued)
Class S
6/30/2018		73,103		—		742,516		(3,382,795)		(2,567,176)		822,917		—		8,152,829		(37,702,479)		(28,726,733)
12/31/2017		199,757		—		1,025,192		(10,754,683)		(9,529,734)		2,061,825		—		10,272,423		(109,818,624)		(97,484,376)
Class S2
6/30/2018		2,205		—		545		(7,968)		(5,218)		24,110		—		5,900		(86,515)		(56,505)
12/31/2017		13,872		—		820		(6,846)		7,846		138,857		—		8,101		(71,875)		75,083
Class T
6/30/2018		87,208		—		49,586		(318,314)		(181,520)		987,623		—		538,008		(3,479,591)		(1,953,960)
12/31/2017		574,000		—		72,785		(1,593,219)		(946,434)		5,787,979		—		720,568		(16,396,513)		(9,887,966)
Government Money Market
Class I
6/30/2018		42,137,468		—		2,773,111		(62,634,884)		(17,724,305)		42,137,470		—		2,773,109		(62,634,884)		(17,724,305)
12/31/2017		62,019,236		—		2,783,547		(130,786,097)		(65,983,314)		62,019,235		—		2,783,547		(130,786,097)		(65,983,315)
Class S
6/30/2018		2,250		—		264		(396)		2,118		2,250		—		264		(395)		2,119
12/31/2017		2,779		—		217		(41,333)		(38,337)		2,779		—		217		(41,333)		(38,337)
Growth and Income
Class ADV
6/30/2018		25,365		—		1,199,061		(2,660,193)		(1,435,767)		737,044		—		33,789,533		(77,049,176)		(42,522,599)
12/31/2017		481,140		—		4,332,463		(8,613,013)		(3,799,410)		14,112,733		—		126,119,965		(259,034,403)		(118,801,705)
Class I
6/30/2018		147,965		—		2,217,563		(4,323,478)		(1,957,950)		4,292,915		—		63,533,168		(126,781,492)		(58,955,409)
12/31/2017		228,779		—		8,130,779		(7,269,067)		1,090,491		6,919,575		—		240,153,222		(221,389,322)		25,683,475
Class S
6/30/2018		48,503		—		659,934		(1,443,933)		(735,496)		1,403,983		—		18,623,347		(41,753,913)		(21,726,583)
12/31/2017		122,006		—		2,424,491		(5,427,934)		(2,881,437)		3,672,422		—		70,631,484		(162,795,310)		(88,491,404)
Class S2
6/30/2018		415		—		542		(51)		906		12,084		—		15,110		(1,476)		25,718
12/31/2017		1,188		—		1,791		(2,165)		814		35,185		—		51,608		(64,424)		22,369
Intermediate Bond
Class ADV
6/30/2018		526,066		—		334,923		(1,618,101)		(757,112)		6,607,475		—		4,155,826		(20,080,577)		(9,317,276)
12/31/2017		1,674,254		—		702,761		(2,769,383)		(392,368)		21,223,587		—		8,924,427		(35,130,726)		(4,982,712)
Class I
6/30/2018		2,610,811		—		1,392,310		(6,840,528)		(2,837,407)		32,792,249		—		17,463,754		(85,895,646)		(35,639,643)
12/31/2017		4,701,599		—		2,987,122		(13,551,357)		(5,862,636)		60,254,318		—		38,334,258		(173,617,322)		(75,028,746)
Class S
6/30/2018		2,882,634		—		3,013,224		(13,022,829)		(7,126,971)		36,545,803		—		37,540,507		(162,208,803)		(88,122,493)
12/31/2017		3,026,066		—		6,697,190		(36,721,454)		(26,998,198)		38,383,965		—		85,372,981		(467,195,239)		(343,438,293)
Class S2
6/30/2018		159,717		—		27,476		(362,767)		(175,574)		1,988,836		—		341,011		(4,515,731)		(2,185,884)
12/31/2017		467,281		—		56,884		(487,591)		36,574		5,941,780		—		722,395		(6,173,116)		491,059
Small Company
Class ADV
6/30/2018		39,459		—		66,733		(41,381)		64,811		800,510		—		1,214,551		(851,730)		1,163,331
12/31/2017		138,528		—		34,027		(104,357)		68,198		2,828,764		—		668,667		(2,179,147)		1,318,284
Class I
6/30/2018		1,069,101		—		4,317,429		(4,865,568)		520,962		22,345,903		—		83,024,164		(103,493,720)		1,876,347
12/31/2017		4,271,152		—		3,103,347		(4,422,213)		2,952,286		94,005,567		—		63,838,068		(94,507,724)		63,335,911
Class R6
6/30/2018		61,477		—		55,842		(19,884)		97,435		1,314,409		—		1,074,401		(437,658)		1,951,152
12/31/2017		213,873		—		21,729		(72,342)		163,260		4,622,329		—		447,197		(1,549,998)		3,519,528
Class S
6/30/2018		133,340		—		853,449		(578,815)		407,974		2,652,382		—		15,968,030		(12,147,705)		6,472,707
12/31/2017		376,316		—		675,283		(2,170,701)		(1,119,102)		8,133,510		—		13,566,861		(45,694,308)		(23,993,937)

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 13 — SECURITIES LENDING

Under a Master Securities Lending Agreement (the “Agreement”) with BNY, each Portfolio (except Government Money Market) can lend their securities to approved brokers, dealers and other financial institutions. Loans are collateralized by cash and U.S. government securities. The collateral is equal to at least 105% of the market value of non-U.S. securities loaned and 102% of the market value of U.S. securities loaned. The market value of the loaned securities is determined at Market Close of the Portfolios at their last sale price or official closing price on the principal exchange or system on which they are traded and any additional collateral is delivered to the Portfolios on the next business day. The cash collateral received is invested in approved investments as defined in the Agreement with BNY. The Portfolios bear the risk of loss with respect to the investment of collateral with the following exception: BNY provides the Portfolios indemnification from loss with respect to the investment of collateral provided that the cash collateral is invested solely in overnight repurchase agreements.

The following tables represent a summary of each respective Portfolio’s securities lending agreements by counterparty which are subject to offset under the Agreement as of June 30, 2018:

Balanced

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Barclays Bank PLC		$	42,986		$	(42,986)		$	—
Barclays Capital Inc.			40,870			(40,870)			—
Goldman, Sachs & Co. LLC			126,417			(126,417)			—
MUFG Securities Americas Inc.			38,034			(38,034)			—

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Merrill Lynch, Pierce, Fenner & Smith Inc.			1,293,997			(1,293,997)			—
Morgan Stanley & Co. LLC			898,839			(898,839)			—
Scotia Capital (USA) INC			9,593			(9,593)			—
Societe Generale			190,770			(190,770)			—
UBS Securities LLC.			9,697			(9,697)			—
Credit Suisse AG			103,237			(103,237)			—
Cantor Fitzgerald & Co			106,765			(106,765)			—
Credit Suisse Securities (USA) LLC			199,753			(199,753)			—
Goldman, Sachs & Co. LLC			103,320			(103,320)			—
J.P. Morgan Securities LLC			19,911			(19,911)			—
Janney Montgomery Scott LLC			38,263			(38,263)			—
Merrill Lynch, Pierce, Fenner & Smith Inc.			130,509			(130,509)			—
RBC Dominion Securities Inc			37,218			(37,218)			—
SG Americas Securities, LLC			140,042			(140,042)			—
UBS Securities LLC.			94,361			(94,361)			—
Wells Fargo Securities LLC			92,072			(92,072)			—
J.P. Morgan Securities LLC			1,256,623			(1,256,623)			—
Credit Suisse Securities (Europe) Limited			26,006			(26,006)			—
Credit Suisse Securities (USA) LLC			21			(21)			—
Goldman, Sachs & Co. LLC			9,165			(9,165)			—
Societe Generale			366,479			(366,479)			—
Credit Suisse Securities (USA) LLC			68,932			(68,932)			—
Total		$	5,443,880		$	(5,443,880)		$	—

(1)

Collateral with a fair value of $5,640,811 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Global Equity

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Cowen Excecution Serices LLC		$	3,304,270		$	(3,304,270)		$	—
Citigroup Global Markets Limited			3,081,901			(3,081,901)			—
Merrill Lynch International			1,517,882			(1,517,882)			—
Nomura Securities International, Inc.			4,209,017			(4,209,017)			—
Scotia Capital (USA) INC			119,332			(119,332)			—
Total		$	12,232,402		$	(12,232,402)		$	—

(1)

Collateral with a fair value of $15,198,305 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Growth and Income

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
BMO Capital Markets Corp		$	8,758,302		$	(8,758,302)		$	—
Goldman, Sachs & Co. LLC			9,298,718			(9,298,718)			—

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 13 — SECURITIES LENDING (continued)

Growth and Income (continued)

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Industrial And Commercial Bank Of China			765,306			(765,306)			—
J.P. Morgan Securities LLC			32,235,939			(32,235,939)			—
Total		$	51,058,265		$	(51,058,265)		$	—

(1)

Collateral with a fair value of $52,489,046 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Intermediate Bond

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
BMO Capital Markets Corp Total		$	97,696		$	(97,696)		$	—
Barclays Capital Inc. Total			5,249,223			(5,249,223)			—
Goldman, Sachs & Co. LLC Total			5,835,262			(5,835,262)			—
MUFG Securities Americas Inc. Total			1,892,794			(1,892,794)			—
Merrill Lynch, Pierce, Fenner & Smith Inc. Total			34,574,687			(34,574,687)			—
Morgan Stanley & Co. LLC Total			52,354,614			(52,354,614)			—
Total		$	100,004,276		$	(100,004,276)		$	—

(1)

Collateral with a fair value of $102,240,974 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

Small Company

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Barclays Capital Inc.		$	1,117		$	(1,117)		$	—
Credit Suisse AG			6,240,884			(6,240,884)			—
Citadel Clearing LLC			1,392,845			(1,392,845)			—
Citigroup Global Markets Inc.			1,937,449			(1,937,449)			—
Deutsche Bank Securities Inc.			4,034,732			(4,034,732)			—
Goldman, Sachs & Co. LLC			3,638,249			(3,638,249)			—
Industrial And Commercial Bank Of China			4,842			(4,842)			—
J.P. Morgan Securities LLC			1,103,251			(1,103,251)			—
MUFG Securities Americas Inc.			221,184			(221,184)			—
Mizuho Securities USA LLC.			170,159			(170,159)			—
Morgan Stanley & Co. LLC			2,139,731			(2,139,731)			—
National Bank of Canada Financial Inc			701,547			(701,547)			—
National Financial Services LLC			423,300			(423,300)			—

Counterparty	Securities Loaned at Value			Cash Collateral Received(1)			Net Amount
Natixis Securities America LLC			801,143			(801,143)			—
Nomura Securities International, Inc.			578			(578)			—
RBC Dominion Securities Inc			1,798,034			(1,798,034)			—
SG Americas Securities, LLC			871,930			(871,930)			—
Scotia Capital (USA) INC			794,724			(794,724)			—
TD Prime Services LLC			882,687			(882,687)			—
UBS AG			3,858,270			(3,858,270)			—
Wells Fargo Securities LLC			7,700			(7,700)			—
Total		$	31,024,356		$	(31,024,356)		$	—

(1)

Collateral with a fair value of $31,814,506 has been received in connection with the above securities lending transactions. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

NOTE 14 — FEDERAL INCOME TAXES

The amount of distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of short-term capital gains, foreign currency transactions, income from passive foreign investment companies (PFICs), wash sale deferrals and the expiration of capital loss carryforwards. Distributions in excess of net investment income and/or net realized capital gains for tax purposes are reported as return of capital.

The tax composition of dividends and distributions to shareholders was as follows:

	Six Months Ended June 30, 2018						Year Ended December 31, 2017
	Ordinary Income			Long-term Capital Gain			Ordinary Income			Long-term Capital Gain
Balanced		$	17,574,925		$	20,934,183		$	10,954,617		$	—
Global Equity			12,218,444			—			14,974,359			—
Government Money Market			2,773,373			—			2,783,768			—
Growth and Income			33,312,064			82,709,322			139,807,817			297,433,409
Intermediate Bond			59,504,612			—			133,358,596			—
Small Company			17,759,580			83,521,566			9,980,023			68,540,770

TABLE OF CONTENTS

NOTES TO FINANCIAL STATEMENTS as of June 30, 2018 (Unaudited) (continued)

NOTE 14 — FEDERAL INCOME TAXES (continued)

	Undistributed Ordinary Income			Undistributed Long-term Capital Gains			Late Year Ordinary Losses Deferred			Post-October Capital Losses Deferred			Unrealized Appreciation/ (Depreciation)			Short-term Capital Loss Carryforwards			Expiration
Balanced		$	17,978,572		$	20,943,993		$	—		$	—		$	31,806,103		$	—		—
Global Equity			12,209,078			—			—			—			116,250,803			(6,695,973)		2018
																		(60,150,156)		None
																	$	(66,846,129)*
Government Money Market			3,212			—			—			—			—			—		—
Growth and Income			33,172,457			82,706,960			—			—			703,747,125			—		—
Intermediate Bond			—			—			(554,617)			(4,181,821)			36,216,520			—		—
Small Company			17,757,318			83,519,576			—			—			93,443,368			—		—

The Portfolios’ major tax jurisdictions are U.S. federal, Arizona state, and Massachusetts state.

As of June 30, 2018, no provision for income tax is required in the Portfolios’ financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The Portfolios’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state department of revenue. The earliest tax year remains subject to examination by these jurisdictions is 2013.

NOTE 15 — SUBSEQUENT EVENTS

Dividends: Subsequent to June 30, 2018, the following Portfolios declared dividends from net investment income of:

	Per Share Amount	Payable Date	Record Date
Government Money Market
Class I	$0.0014	August 1, 2018	Daily
Class S	$0.0012	August 1, 2018	Daily
Intermediate Bond
Class ADV	$0.0289	August 1, 2018	Daily

	Per Share Amount	Payable Date	Record Date
Class I	$0.0345	August 1, 2018	Daily
Class S	$0.0317	August 1, 2018	Daily
Class S2	$0.0299	August 1, 2018	Daily

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited)


	Investment Type Allocation as of June 30, 2018 (as a percentage of net assets)

	Common Stock			43.4%
	Exchange-Traded Funds			19.8%
	Mutual Funds			8.8%
	Corporate Bonds/Notes			7.7%
	U.S. Government Agency Obligations			4.7%
	U.S. Treasury Obligations			3.6%
	Collateralized Mortgage Obligations			3.5%
	Asset-Backed Securities			2.8%
	Commercial Mortgage-Backed Securities			1.3%
	Foreign Government Bonds			0.8%
	Preferred Stock			0.1%
	Rights			0.0%
	Assets in Excess of Other Liabilities*			3.5%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 43.4%
			Consumer Discretionary: 4.3%
	888 (1)		Amazon.com, Inc.		$	1,509,423		0.4
	40,920		Comcast Corp. - Class A			1,342,585		0.3
	9,873		Home Depot, Inc.			1,926,222		0.5
	434,166	(2)(3)	Other Securities			12,281,240		3.1
						17,059,470		4.3
			Consumer Staples: 3.2%
	13,687		PepsiCo, Inc.			1,490,104		0.4
	14,937		Philip Morris International, Inc.			1,206,013		0.3
	21,837		Procter & Gamble Co.			1,704,596		0.4
	15,390		Walmart, Inc.			1,318,154		0.3
	180,500 (4)		WH Group Ltd.			146,058		0.0
	193,709	(2)(3)	Other Securities			6,928,403		1.8
						12,793,328		3.2
			Energy: 2.6%
	12,969		Anadarko Petroleum Corp.			949,979		0.2
	14,868		Chevron Corp.			1,879,761		0.5
	17,361		Royal Dutch Shell PLC - Class A ADR			1,201,902		0.3
	9,006		Valero Energy Corp.			998,135		0.3
	171,565	(2)(3)	Other Securities			5,170,841		1.3
						10,200,618		2.6

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: 6.8%
	69,545		Bank of America Corp.		$	1,960,474		0.5
	19,899		JPMorgan Chase & Co.			2,073,476		0.5
	20,238		Morgan Stanley			959,281		0.3
	5,125		S&P Global, Inc.			1,044,936		0.3
	1,315,999	(2)(3)	Other Securities			20,818,491		5.2
						26,856,658		6.8
			Health Care: 5.7%
	6,507		Amgen, Inc.			1,201,127		0.3
	5,576		Cigna Corp.			947,641		0.2
	12,985 (1)		Express Scripts Holding Co.			1,002,572		0.3
	18,491		Johnson & Johnson			2,243,698		0.6
	16,596		Merck & Co., Inc.			1,007,377		0.3
	48,797		Pfizer, Inc.			1,770,355		0.4
	7,633		UnitedHealth Group, Inc.			1,872,680		0.5
	172,058	(2)(3)	Other Securities			12,376,390		3.1
						22,421,840		5.7
			Industrials: 5.3%
	4,909		Boeing Co.			1,647,019		0.4
	7,587		Honeywell International, Inc.			1,092,907		0.3
	11,161		Ingersoll-Rand PLC - Class A			1,001,476		0.2
	950,862 (3)		Other Securities			17,425,227		4.4
						21,166,629		5.3
			Information Technology: 9.8%
	5,552 (1)		Adobe Systems, Inc.			1,353,633		0.3
	2,216 (1)		Alphabet, Inc. - Class A			2,502,285		0.6
	21,133		Apple, Inc.			3,911,930		1.0
	22,795 (1)		Cadence Design Systems, Inc.			987,251		0.3
	41,116		Cisco Systems, Inc.			1,769,222		0.4
	15,409 (1)		Facebook, Inc. - Class A			2,994,277		0.8
	16,766 (1)		Fortinet, Inc.			1,046,701		0.3
	45,286		Microsoft Corp.			4,465,652		1.1
	8,161		Motorola Solutions, Inc.			949,696		0.2
	30,387		Oracle Corp.			1,338,851		0.3
	26,419		Teradyne, Inc.			1,005,771		0.3
	12,224		Texas Instruments, Inc.			1,347,696		0.3
	334,888 (3)		Other Securities			15,392,078		3.9
						39,065,043		9.8
			Materials: 1.9%
	3,892 (4)		Covestro AG			345,935		0.1
	257,848	(2)(3)	Other Securities			7,160,679		1.8
						7,506,614		1.9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate: 1.7%
	7,601		American Tower Corp.		$	1,095,836		0.3
	742,700	(2)(3)	Other Securities			5,585,749		1.4
						6,681,585		1.7
			Telecommunication Services: 0.6%
	128,069		Other Securities			2,480,326		0.6
			Utilities: 1.5%
	6,962		NextEra Energy, Inc.			1,162,863		0.3
	244,726		Other Securities			4,938,447		1.2
						6,101,310		1.5
			Total Common Stock (Cost $161,554,219)			172,333,421		43.4
EXCHANGE-TRADED FUNDS: 19.8%
	347,445		Invesco Senior Loan ETF			7,956,490		2.0
	94,694		iShares 1-3 Year Treasury Bond ETF			7,894,639		2.0
	18,607		iShares MSCI EAFE Index Fund			1,246,111		0.3
	647,409 (5)		iShares MSCI Emerging Markets ETF			28,052,232		7.0
	146,461		iShares Russell 1000 Value ETF			17,777,436		4.5
	43,416		iShares S&P 500 Index Fund			11,854,739		3.0
	50,277		SPDR Dow Jones International Real Estate ETF			1,967,842		0.5
	25,501		Vanguard Real Estate Index ETF			2,077,056		0.5
			Total Exchange-Traded Funds (Cost $78,602,720)			78,826,545		19.8
MUTUAL FUNDS: 8.8%
			Affiliated Investment Companies: 7.4%
	191,117		Voya Emerging Markets Local Currency Debt Fund - Class P			1,347,376		0.4
	1,218,456		Voya Floating Rate Fund Class P			11,940,867		3.0
	2,039,347		Voya High Yield Bond Fund - Class P			15,988,483		4.0
						29,276,726		7.4
			Unaffiliated Investment Companies : 1.4%
	1,172,183		Credit Suisse Commodity Return Strategy Fund - Class I			5,837,469		1.4
			Total Mutual Funds (Cost $35,905,091)			35,114,195		8.8

Shares			Value			Percentage of Net Assets
PREFERRED STOCK: 0.1%
		Consumer Discretionary: 0.1%
	20,113	Other Securities		$	261,050		0.1
		Utilities: 0.0%
	1,956 (3)	Other Securities			45,829		0.0
		Total Preferred Stock (Cost $381,964)			306,879		0.1
RIGHTS: 0.0%
		Financials: —%
	130,246 (3)	Other Securities			—		—
		Energy: 0.0%
	19,839 (3)	Other Securities			11,262		0.0
		Industrials: 0.0%
	8,530 (3)	Other Securities			8,786		0.0
		Total Rights (Cost $20,486)			20,048		0.0

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: 7.7%
			Basic Materials: 0.2%
	80,000 (4)		Georgia-Pacific LLC, 2.539%, 11/15/2019		79,501		0.0
	605,000		Other Securities		596,882		0.2
					676,383		0.2
			Communications: 0.9%
	113,000 (4)		AT&T, Inc., 4.300%, 02/15/2030		107,082		0.0
	75,000 (4)		AT&T, Inc., 5.150%, 11/15/2046		70,859		0.0
	130,000 (4)		AT&T, Inc., 5.150%, 02/15/2050		121,663		0.1
	65,000 (4)		CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 05/01/2027		60,856		0.0
	70,000 (4)		CommScope Technologies LLC, 5.000%, 03/15/2027		66,062		0.0
	120,000 (4)		NBCUniversal Enterprise, Inc., 5.250%, 12/31/2199		121,500		0.0
	65,000	(4)(5)	Sinclair Television Group, Inc., 5.125%, 02/15/2027		60,125		0.0
	45,000 (4)		Sirius XM Radio, Inc., 5.000%, 08/01/2027		42,188		0.0
	200,000 (4)		Tencent Holdings Ltd., 2.985%, 01/19/2023		194,518		0.1
	180,000 (4)		Verizon Communications, Inc., 4.329%, 09/21/2028		178,758		0.0
	2,670,000 (2)		Other Securities		2,580,871		0.7
					3,604,482		0.9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Consumer, Cyclical: 0.8%
	70,000 (4)	1011778 BC ULC/New Red Finance, Inc., 5.000%, 10/15/2025		$	66,584		0.0
	90,000 (4)	BMW US Capital LLC, 3.450%, 04/12/2023			89,084		0.0
	17,000 (4)	British Airways 2018-1 Class A Pass Through Trust, 4.125%, 03/20/2033			16,818		0.0
	60,000 (4)	Caesars Resort Collection LLC/CRC Finco, Inc., 5.250%, 10/15/2025			56,925		0.0
	150,000 (4)	Daimler Finance North America LLC, 2.300%, 02/12/2021			145,749		0.1
	45,000 (4)	Dana Financing Luxembourg Sarl, 6.500%, 06/01/2026			45,787		0.0
	65,000 (4)	Hilton Domestic Operating Co., Inc., 5.125%, 05/01/2026			64,188		0.0
	100,000 (4)	Nissan Motor Acceptance Corp., 2.600%, 09/28/2022			96,059		0.0
	65,000 (4)	Six Flags Entertainment Corp., 5.500%, 04/15/2027			63,275		0.0
	65,000 (4)	Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.500%, 03/01/2025			64,025		0.0
	150,000 (4)	ZF North America Capital, Inc., 4.000%, 04/29/2020			151,145		0.1
	2,340,290 (2)	Other Securities			2,268,730		0.6
					3,128,369		0.8
		Consumer, Non-cyclical: 1.0%
	140,000	Amgen, Inc., 2.125%-3.200%, 05/01/ 2020-11/02/2027			134,043		0.0
	80,000 (4)	BAT Capital Corp., 3.222%, 08/15/2024			75,850		0.0
	90,000 (4)	BAT International Finance PLC, 2.750%, 06/15/2020			89,057		0.1
	70,000 (4)	Brink’s Co/The, 4.625%, 10/15/2027			64,925		0.0
	65,000 (4)	JBS USA LUX SA/JBS USA Finance, Inc., 5.750%, 06/15/2025			60,775		0.0
	70,000 (4)	Keurig Dr Pepper, Inc., 4.057%, 05/25/2023			70,338		0.0
	51,000 (4)	Keurig Dr Pepper, Inc., 4.417%, 05/25/2025			51,319		0.0
	90,000 (4)	Kraft Heinz Foods Co., 4.875%, 02/15/2025			91,832		0.0

Principal Amount†				Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical (continued)
	37,000		Philip Morris International, Inc., 4.250%, 11/10/2044		$	35,109		0.0
	70,000 (4)		Post Holdings, Inc., 5.000%, 08/15/2026			65,450		0.0
	67,000 (4)		Wm Wrigley Jr Co., 2.400%, 10/21/2018			66,956		0.0
	3,388,000 (2)		Other Securities			3,325,537		0.9
						4,131,191		1.0
			Energy: 1.0%
	40,000 (4)		Hess Infrastructure Partners L.P./Hess Infrastructure Partners Finance Corp., 5.625%, 02/15/2026			40,100		0.0
	50,000	(4)(5)	Jonah Energy LLC/Jonah Energy Finance Corp., 7.250%, 10/15/2025			40,625		0.0
	200,000 (4)		KazMunayGas National Co. JSC, 4.750%, 04/24/2025			200,550		0.1
	200,000 (4)		Petroleos del Peru SA, 4.750%, 06/19/2032			191,900		0.0
	65,000 (4)		Tallgrass Energy Partners L.P./Tallgrass Energy Finance Corp., 5.500%, 01/15/2028			64,350		0.0
	3,588,000		Other Securities			3,517,969		0.9
						4,055,494		1.0
			Financial: 2.3%
	200,000 (4)		BNP Paribas SA, 3.500%, 03/01/2023			195,084		0.1
	200,000	(4)(6)	BNP Paribas SA, 4.375%, 03/01/2033			187,816		0.0
	338,000 (6)		Citigroup, Inc., 2.876%-5.500%, 07/24/2023-07/25/2028			332,254		0.1
	250,000 (4)		Credit Agricole SA/London, 2.375%, 07/01/2021			241,909		0.1
	77,000		Credit Suisse Group Funding Guernsey Ltd., 3.800%, 09/15/2022			76,713		0.0
	65,000 (4)		ESH Hospitality, Inc., 5.250%, 05/01/2025			62,887		0.0
	90,000 (4)		Fairfax Financial Holdings Ltd., 4.850%, 04/17/2028			89,346		0.0
	81,000 (4)		Guardian Life Insurance Co. of America/The, 4.850%, 01/24/2077			79,108		0.0
	200,000 (4)		ING Bank NV, 2.000%, 11/26/2018			199,486		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial (continued)
	181,000 (4)		International Lease Finance Corp., 7.125%, 09/01/2018		$	182,188		0.0
	534,000 (6)		JPMorgan Chase & Co., 2.550%-4.032%, 10/29/2020-07/24/2048			512,656		0.1
	180,000	(4)(6)	Macquarie Group Ltd, 3.189%, 11/28/2023			172,036		0.0
	200,000 (4)		Mizuho Financial Group, Inc., 2.632%, 04/12/2021			195,341		0.0
	314,000 (6)		Morgan Stanley, 2.750%-4.457%, 05/19/2022-04/22/2039			306,799		0.1
	200,000 (4)		Nationwide Building Society, 2.350%, 01/21/2020			197,445		0.1
	110,000 (4)		New York Life Global Funding, 3.000%, 01/10/2028			103,265		0.0
	70,000 (4)		Quicken Loans, Inc., 5.250%, 01/15/2028			64,824		0.0
	200,000 (4)		Societe Generale SA, 2.625%, 09/16/2020			196,815		0.1
	400,000	(4)(6)	Standard Chartered PLC, 3.885%, 03/15/2024			393,048		0.1
	110,000 (4)		Suncorp-Metway Ltd, 2.375%, 11/09/2020			107,405		0.0
	200,000 (4)		UBS AG/London, 2.450%, 12/01/2020			195,753		0.1
	5,209,000		Other Securities			5,147,548		1.3
						9,239,726		2.3
			Industrial: 0.3%
	70,000 (4)		Novelis Corp., 5.875%, 09/30/2026			67,200		0.0
	25,000 (4)		Owens-Brockway Glass Container, Inc., 5.875%, 08/15/2023			25,375		0.0
	70,000 (4)		Standard Industries, Inc./NJ, 5.000%, 02/15/2027			65,450		0.0
	1,208,000		Other Securities			1,178,062		0.3
						1,336,087		0.3
			Technology: 0.5%
	628,000		Apple, Inc., 2.000%-3.750%, 11/13/2020-11/13/2047			601,399		0.2
	49,000 (4)		Dell International LLC/EMC Corp., 4.420%, 06/15/2021			49,729		0.0
	182,000 (4)		Dell International LLC/EMC Corp., 5.450%, 06/15/2023			190,542		0.1
	90,000 (4)		Dell International LLC/EMC Corp., 6.020%, 06/15/2026			94,760		0.0

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Technology (continued)
	60,000 (4)	First Data Corp., 5.750%, 01/15/2024		$	60,186		0.0
	898,000	Other Securities			884,271		0.2
					1,880,887		0.5
		Utilities: 0.7%
	75,000 (4)	American Transmission Systems, Inc., 5.000%, 09/01/2044			82,531		0.0
	70,000 (4)	Calpine Corp., 5.250%, 06/01/2026			66,238		0.0
	39,000 (4)	Cleveland Electric Illuminating Co/The, 3.500%, 04/01/2028			37,046		0.0
	200,000 (4)	Enel Finance International NV, 3.500%, 04/06/2028			180,004		0.1
	97,000 (4)	Jersey Central Power & Light Co., 4.300%, 01/15/ 2026			98,265		0.0
	2,173,000 (2)	Other Securities			2,132,077		0.6
					2,596,161		0.7
		Total Corporate Bonds/Notes (Cost $31,541,196)			30,648,780		7.7
COLLATERALIZED MORTGAGE OBLIGATIONS: 3.5%
	90,601	Alternative Loan Trust 2004-J7 MI, 3.111%, (US0001M + 1.020%), 10/25/2034			81,893		0.0
	96,586	Alternative Loan Trust 2005-10CB 1A1, 2.591%, (US0001M + 0.500%), 05/25/2035			86,147		0.0
	77,522	Alternative Loan Trust 2005-51 3A2A, 2.848%, (12MTA + 1.290%), 11/20/2035			75,133		0.0
	154,431	Alternative Loan Trust 2005-J2 1A12, 2.491%, (US0001M + 0.400%), 04/25/2035			136,740		0.1
	143,250	Alternative Loan Trust 2006-19CB A12, 2.491%, (US0001M + 0.400%), 08/25/2036			104,681		0.0
	115,021	Alternative Loan Trust 2006-HY11 A1, 2.211%, (US0001M + 0.120%), 06/25/2036			107,853		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	38,840		Alternative Loan Trust 2007-23CB A3, 2.591%, (US0001M + 0.500%), 09/25/2037		$	26,757		0.0
	189,979		Alternative Loan Trust 2007-2CB 2A1, 2.691%, (US0001M + 0.600%), 03/25/2037			132,758		0.1
	97,065		Bear Stearns Mortgage Funding Trust 2006-AR5 2A1, 2.281%, (US0001M + 0.190%), 01/25/2037			92,089		0.0
	16,725 (4)		Bellemeade Re Ltd. 2015-1A M2, 6.391%, (US0001M + 4.300%), 07/25/2025			16,962		0.0
	142,145 (6)		Citigroup Mortgage Loan Trust 2006-AR2 1A1, 3.901%, 03/25/2036			133,457		0.1
	77,041 (6)		Citigroup Mortgage Loan Trust 2007-10 22AA, 3.712%, 09/25/2037			74,631		0.0
	100,000	(4)(6)	COLT 2018-1 M1 Mortgage Loan Trust, 3.661%, 02/25/2048			99,308		0.0
	200,000	(4)(6)	Deephaven Residential Mortgage Trust 2018-1A M1, 3.939%, 12/25/2057			200,466		0.1
	53,376		DSLA Mortgage Loan Trust 2005-AR4 2A1B, 2.365%, (US0001M + 0.280%), 08/19/2045			46,501		0.0
	968,180		Fannie Mae 2011-113 CL, 4.000%, 11/25/2041			993,978		0.2
	364,269		Fannie Mae 2011-99 CZ, 4.500%, 10/25/2041			392,403		0.1
	250,000		Fannie Mae Connecticut Avenue Securities 2017-C02 2M2, 5.741%, (US0001M + 3.650%), 09/25/2029			272,824		0.1
	200,000		Fannie Mae Connecticut Avenue Securities 2017-C03 1M2, 5.091%, (US0001M + 3.000%), 10/25/2029			212,989		0.1
	250,000		Fannie Mae Connecticut Avenue Securities 2017-C05 1M2, 4.291%, (US0001M + 2.200%), 01/25/2030			254,608		0.1
	100,000		Fannie Mae Connecticut Avenue Securities 2017-C07 1M2, 4.491%, (US0001M + 2.400%), 05/25/2030			102,174		0.0

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	200,000		Fannie Mae Connecticut Avenue Securities 2017-C07 2M2, 4.591%, (US0001M + 2.500%), 05/25/2030		$	204,183		0.0
	200,000		Fannie Mae Connecticut Avenue Securities 2018-CO1 1M2, 4.341%, (US0001M + 2.250%), 07/25/2030			201,518		0.0
	130,831		Fannie Mae REMIC Trust 2001-15 Z, 6.000%, 04/25/2031			140,133		0.0
	393,982		Fannie Mae REMIC Trust 2009-19 PW, 4.500%, 10/25/2036			408,234		0.1
	362,965 (6)		Fannie Mae REMIC Trust 2009-50 HZ, 5.552%, 02/25/2049			383,236		0.1
	216,745		Fannie Mae REMIC Trust 2011-30 ZA, 5.000%, 04/25/2041			231,605		0.1
	324,963		Fannie Mae REMIC Trust 2011-9 AZ, 5.000%, 05/25/2040			350,714		0.1
	221,569		Fannie Mae REMICS 2018-8 AB, 3.500%, 10/25/2047			222,463		0.1
	70,068		First Horizon Alternative Mortgage Securities Trust 2006-FA7 A5, 2.391%, (US0001M + 0.300%), 12/25/2036			44,064		0.0
	70,068 (7)		First Horizon Alternative Mortgage Securities Trust 2006-FA7 A9, 4.609%, (-1.000*US0001M + 6.700%), 12/25/2036			16,071		0.0
	99,314	(4)(6)	Flagstar Mortgage Trust 2018-1 B2, 4.062%, 03/25/2048			98,628		0.0
	99,314	(4)(6)	Flagstar Mortgage Trust 2018-1 B3, 4.062%, 03/25/2048			96,531		0.0
	853,637		Freddie Mac 326 350, 3.500%, 03/15/2044			851,338		0.2
	216,441		Freddie Mac 4634 ZM, 5.000%, 11/15/2056			252,219		0.1
	137,310		Freddie Mac REMIC Trust 2114 ZM, 6.000%, 01/15/2029			148,441		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	167,186		Freddie Mac REMIC Trust 2472 ZC, 6.000%, 07/15/2032		$	184,249		0.1
	101,328		Freddie Mac REMIC Trust 2541 NE, 5.500%, 12/15/2032			109,318		0.0
	27,742		Freddie Mac REMIC Trust 2861 Z, 5.500%, 09/15/2034			30,059		0.0
	75,670		Freddie Mac REMIC Trust 2931 ZY, 5.000%, 02/15/2035			80,432		0.0
	239,119		Freddie Mac REMIC Trust 3117 ZA, 5.500%, 02/15/2036			259,335		0.1
	94,365		Freddie Mac REMIC Trust 3351 ZC, 5.500%, 07/15/2037			102,802		0.0
	84,267	(6)(7)	Freddie Mac REMIC Trust 3524 LA, 5.368%, 03/15/2033			88,968		0.0
	92,020		Freddie Mac REMIC Trust 3724 CM, 5.500%, 06/15/2037			99,520		0.0
	77,322		Freddie Mac REMIC Trust 3819 ZY, 6.000%, 10/15/2037			81,844		0.0
	20,289		Freddie Mac REMIC Trust 4000 PA, 4.500%, 01/15/2042			21,293		0.0
	325,079		Freddie Mac REMIC Trust 4203 BN, 3.000%, 04/15/2033			316,858		0.1
	475,658		Freddie Mac REMIC Trust 4335 ZX, 4.250%, 05/15/2044			493,624		0.1
	475,658		Freddie Mac REMIC Trust 435 XZ, 4.250%, 05/15/2044			494,767		0.1
	100,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2015-DNA3 M3, 6.791%, (US0001M + 4.700%), 04/25/2028			118,619		0.0
	350,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA2 M2, 4.741%, (US0001M + 2.650%), 12/25/2029			361,193		0.1
	200,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA3 M2, 4.441%, (US0001M + 2.350%), 04/25/2030			204,709		0.1

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	100,000		Freddie Mac Structured Agency Credit Risk Debt Notes 2018-HQA1 M2, 4.391%, (US0001M + 2.300%), 09/25/2030		$	99,807		0.0
	80,770		Ginnie Mae Series 2009-29 PB, 4.750%, 05/20/2039			85,159		0.0
	337,296		Ginnie Mae Series 2010-164 JZ, 4.000%, 12/20/2040			347,571		0.1
	37,581		Ginnie Mae Series 2011-169 BC, 7.000%, 05/16/2032			40,922		0.0
	81,806		HomeBanc Mortgage Trust 2004-1 2A, 2.951%, (US0001M + 0.860%), 08/25/2029			78,733		0.0
	54,024		IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 2.301%, (US0001M + 0.210%), 04/25/2046			50,366		0.0
	196,103	(4)(6)	JP Morgan Mortgage Trust 2017-3 B1, 3.869%, 08/25/2047			193,944		0.1
	99,044	(4)(6)	JP Morgan Mortgage Trust 2017-6 B3, 3.854%, 12/25/2048			93,469		0.0
	37,856		Lehman XS Trust Series 2005-5N 1A2, 2.451%, (US0001M + 0.360%), 11/25/2035			33,698		0.0
	59,732		Morgan Stanley Mortgage Loan Trust 2007-13 6A1, 6.000%, 10/25/2037			53,011		0.0
	92,831	(4)(6)	Sequoia Mortgage Trust 2018-CH1 A19, 4.000%, 02/25/2048			93,701		0.0
	99,386	(4)(6)	Sequoia Mortgage Trust 2018-CH1 B1B, 4.520%, 02/25/2048			102,959		0.1
	200,000	(4)(6)	Verus Securitization Trust 2017-SG1A B1, 3.615%, 11/25/2047			199,588		0.1
	119,906		WaMu Mortgage Pass-Through Certificates Series 2005-AR11 A1C3, 2.601%, (US0001M + 0.510%), 08/25/2045			119,037		0.0
	60,845		WaMu Mortgage Pass-Through Certificates Series 2005-AR13 A1C3, 2.581%, (US0001M + 0.490%), 10/25/2045			61,094		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	227,599		Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2006-AR6 2A, 2.518%, (12MTA + 0.960%), 08/25/2046		$	173,504		0.1
	33,247		Wells Fargo Alternative Loan 2007-PA2 2A1, 2.521%, (US0001M + 0.430%), 06/25/2037			27,886		0.0
	1,595,039		Other Securities			1,470,691		0.4
			Total Collateralized Mortgage Obligations (Cost $13,685,352)			13,666,460		3.5
COMMERCIAL MORTGAGE-BACKED SECURITIES: 1.3%
	3,000,000	(6)(7)	BANK 2017-BNK8 XB, 0.223%, 11/15/2050			45,107		0.0
	2,180,000	(4)(6)(7)	BBCCRE Trust 2015-GTP XA, 0.749%, 08/10/2033			87,743		0.0
	210,000	(4)(6)	Bear Stearns Commercial Mortgage Securities Trust 2004-PWR6 F, 5.860%, 11/11/2041			214,154		0.0
	260,000	(4)(6)	Bear Stearns Commercial Mortgage Securities Trust 2006-TOP22 E, 5.911%, 04/12/2038			268,123		0.1
	32,552 (4)		Beckman Coulter, Inc. 2000-A A, 7.498%, 12/15/2018			32,514		0.0
	825,463	(6)(7)	CD 2017-CD4 Mortgage Trust XA, 1.478%, 05/10/2050			69,503		0.0
	5,450,845	(6)(7)	CFCRE Commercial Mortgage Trust 2016-C7 XA, 0.929%, 12/10/2054			282,903		0.1
	100,000 (6)		Citigroup Commercial Mortgage Trust 2013-GC17 C, 5.258%, 11/10/2046			103,972		0.1
	70,000		Citigroup Commercial Mortgage Trust 2016-P4 A4, 2.902%, 07/10/2049			66,528		0.0
	987,537	(6)(7)	Citigroup Commercial Mortgage Trust 2016-P4 XA, 2.159%, 07/10/2049			114,207		0.1
	1,335,467	(6)(7)	Citigroup Commercial Mortgage Trust 2017-C4 XA, 1.271%, 10/12/2050			99,073		0.0

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	80,000 (6)		Citigroup Commercial Mortgage Trust 2017-P8 C, 4.414%, 09/15/2050		$	78,025		0.0
	996,876	(6)(7)	Citigroup Commercial Mortgage Trust 2017-P8 XA, 1.073%, 09/15/2050			66,859		0.0
	1,480,000	(6)(7)	Citigroup Commercial Mortgage Trust 2018-C5 XA, 0.604%, 06/10/2051			78,772		0.0
	864,822	(6)(7)	COMM 2012-CR4 XA, 1.944%, 10/15/2045			53,176		0.0
	2,380,000	(4)(6)(7)	COMM 2012-CR4 XB, 0.747%, 10/15/2045			59,173		0.0
	4,227,580	(6)(7)	COMM 2013-CCRE13 XA, 1.050%, 11/10/2046			127,303		0.1
	1,932,973	(6)(7)	COMM 2014-UBS3 XA, 1.448%, 06/10/2047			93,587		0.0
	1,605,486	(6)(7)	COMM 2016-CR28 XA, 0.692%, 02/10/2049			61,778		0.0
	757,709	(6)(7)	COMM 2017-COR2 XA, 1.334%, 09/10/2050			64,529		0.0
	50,000	(4)(6)	Credit Suisse First Boston Mortgage Securities Corp. 2004-C2 F, 6.493%, 05/15/2036			50,721		0.0
	110,000	(4)(6)	DBUBS 2011-LC1A E, 5.884%, 11/10/2046			113,334		0.1
	100,000	(4)(6)	DBUBS 2011-LC2A D, 5.719%, 07/10/2044			103,145		0.0
	130,000	(4)(6)	DBWF 2015-LCM D Mortgage Trust, 3.535%, 06/10/2034			110,422		0.0
	110,000	(4)(6)	DBJPM 16-C3 Mortgage Trust, 3.635%, 09/10/2049			92,558		0.0
	915,122	(6)(7)	Freddie Mac Multifamily Structured Pass Through Certificates K014 X1, 1.341%, 04/25/2021			25,235		0.0
	682,678	(6)(7)	Freddie Mac Multifamily Structured Pass Through Certificates K020 X1, 1.553%, 05/25/2022			30,705		0.0
	712,742	(6)(7)	Freddie Mac Multifamily Structured Pass Through Certificates K706 X1, 1.686%, 10/25/2018			2,356		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	618,583	(6)(7)	Freddie Mac Multifamily Structured Pass Through Certificates K707 X1, 1.644%, 12/25/2018		$	2,016		0.0
	958,860	(6)(7)	Freddie Mac Multifamily Structured Pass Through Certificates K709 X1, 1.631%, 03/25/2019			6,447		0.0
	934,326	(6)(7)	Freddie Mac Multifamily Structured Pass Through Certificates K711 X1, 1.800%, 07/25/2019			9,953		0.0
	1,115,270	(6)(7)	Freddie Mac Multifamily Structured Pass Through Certificates K712 X1, 1.448%, 11/25/2019			14,070		0.0
	110,000	(4)(6)	FREMF Mortgage Trust 2012-K706 B, 4.169%, 11/25/2044			110,059		0.1
	20,950,179	(4)(7)	FREMF Mortgage Trust 2012-K709 X2A, 0.200%, 04/25/2045			18,124		0.0
	100,000	(4)(6)	GS Mortgage Securities Trust 2010-C2 D, 5.355%, 12/10/2043			101,824		0.1
	100,000	(4)(6)	GS Mortgage Securities Trust 2010-C2 F, 4.548%, 12/10/2043			90,441		0.0
	1,406,485	(6)(7)	GS Mortgage Securities Trust 2012-GCJ7 XA, 2.405%, 05/10/2045			71,217		0.0
	2,386,492	(6)(7)	GS Mortgage Securities Trust 2013-GCJ14 XA, 0.831%, 08/10/2046			66,324		0.0
	1,218,385	(6)(7)	GS Mortgage Securities Trust 2014-GC22 XA, 1.160%, 06/10/2047			51,347		0.0
	1,934,829	(6)(7)	GS Mortgage Securities Trust 2016-GS4 XA, 0.714%, 11/10/2049			66,093		0.0
	6,394	(4)(6)	JP Morgan Chase Commercial Mortgage Securities Corp. 2004-C2 H, 5.955%, 05/15/2041			6,386		0.0
	1,050,000	(4)(6)(7)	JP Morgan Chase Commercial Mortgage Securities Corp. 2012-LC9 XB, 0.413%, 12/15/2047			14,524		0.0
	2,295,060	(6)(7)	JPMBB Commercial Mortgage Securities Trust 2013-C12 XA, 0.673%, 07/15/2045			47,413		0.0

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	50,000 (6)		JPMBB Commercial Mortgage Securities Trust 2013-C17 C, 5.044%, 01/15/2047		$	51,106		0.1
	928,820	(6)(7)	JPMBB Commercial Mortgage Securities Trust 2014-C19 XA, 1.289%, 04/15/2047			20,017		0.0
	959,153	(6)(7)	JPMBB Commercial Mortgage Securities Trust 2014-C26 XA, 1.262%, 01/15/2048			41,678		0.0
	5,890	(4)(6)	LB-UBS Commercial Mortgage Trust 2005-C1 G, 5.854%, 02/15/2040			5,874		0.0
	540,360	(4)(6)(7)	LB-UBS Commercial Mortgage Trust 2006-C7 XW, 0.899%, 11/15/2038			1,431		0.0
	2,401,657	(6)(7)	Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 XA, 1.261%, 12/15/2047			102,329		0.0
	100,000	(4)(6)	Morgan Stanley Capital I Trust 2011-C1 E, 5.599%, 09/15/2047			103,253		0.1
	80,000 (4)		Morgan Stanley Capital I, Inc. 2017-JWDR A, 2.923%, (US0001M + 0.850%), 11/15/2034			79,951		0.0
	28,115 (4)		Morgan Stanley Reremic Trust 2012-XA B, 0.250%, 07/27/2049			27,736		0.0
	100,000 (4)		TPG Real Estate Finance 2018-FL-1 C Issuer Ltd., 3.973%, (US0001M + 1.900%), 02/15/2035			100,001		0.0
	969,836	(6)(7)	Wells Fargo Commercial Mortgage Trust 2016-C35 XA, 2.144%, 07/15/2048			113,000		0.1
	1,321,162	(6)(7)	Wells Fargo Commercial Mortgage Trust 2016-NXS5 XA, 1.704%, 01/15/2059			101,867		0.0
	1,723,766	(4)(6)(7)	WFRBS Commercial Mortgage Trust 2012-C10 XA, 1.721%, 12/15/2045			96,059		0.0
	1,720,943	(4)(6)(7)	WFRBS Commercial Mortgage Trust 2012-C8 XA, 2.007%, 08/15/2045			104,103		0.0
	1,819,549	(4)(6)(7)	WFRBS Commercial Mortgage Trust 2013-C12 XA, 1.416%, 03/15/2048			86,166		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	1,443,362	(6)(7)	WFRBS Commercial Mortgage Trust 2013-C16 XA, 1.006%, 09/15/2046		$	42,311		0.0
	721,385		Other Securities			703,722		0.2
			Total Commercial Mortgage-Backed Securities (Cost $5,168,267)			5,052,347		1.3
FOREIGN GOVERNMENT BONDS: 0.8%
	100,000 (4)		Dominican Republic International Bond, 5.500%, 01/27/2025			99,574		0.0
	PEN 250,000 (4)		Peru Government Bond, 6.150%, 08/12/2032			78,280		0.0
	200,000 (4)		Saudi Government International Bond, 4.000%, 04/17/2025			199,306		0.1
	839,618,539		Other Securities			2,955,534		0.7
			Total Foreign Government Bonds (Cost $3,483,764)			3,332,694		0.8
U.S. GOVERNMENT AGENCY OBLIGATIONS(8): 4.7%
			Federal Home Loan Mortgage Corporation: 2.9%(8)
	3,825,000 (9)		3.500%, 07/01/2045			3,803,975		0.9
	4,986,000 (9)		4.000%, 07/01/2048			5,083,188		1.3
	1,001,000 (9)		4.500%, 07/01/2048			1,041,775		0.3
	1,555,490 (9)		2.500%-6.500%, 05/01/2030-09/01/2045			1,601,770		0.4
						11,530,708		2.9
			Federal National Mortgage Association: 1.5%(8)
	1,064,700 (9)		3.000%, 07/01/2048			1,031,178		0.3
	4,795,300 (9)		2.500%-7.500%, 06/01/2029-08/01/2056			4,924,529		1.2
						5,955,707		1.5
			Government National Mortgage Association: 0.3%
	1,231,377 (6)		4.000%-5.310%, 11/20/2040-10/20/2060			1,276,843		0.3
			Total U.S. Government Agency Obligations (Cost $18,867,784)			18,763,258		4.7
U.S. TREASURY OBLIGATIONS: 3.6%
			U.S. Treasury Bonds: 0.6%
	2,289,000 (5)		3.000%, 02/15/2048			2,294,812		0.6
			U.S. Treasury Notes: 3.0%
	3,629,000		2.500%, 06/30/2020			3,627,086		0.9
	2,228,000		2.625%, 06/15/2021			2,228,305		0.6

Principal Amount†				Value			Percentage of Net Assets
U.S. TREASURY OBLIGATIONS: (continued)
			U.S. Treasury Notes (continued)
	3,327,000		2.625%, 06/30/2023		$	3,310,170		0.8
	1,902,000		2.875%, 05/15/2028			1,905,232		0.5
	821,000		1.250%-2.875%, 03/31/2019-05/31/2025			814,875		0.2
						11,885,668		3.0
			Total U.S. Treasury Obligations (Cost $14,137,376)			14,180,480		3.6
ASSET-BACKED SECURITIES: 2.8%
			Automobile Asset-Backed Securities: 0.1%
	85,332 (4)		Oscar US Funding Trust 2014-1 A4, 2.550%, 12/15/2021			85,207		0.0
	100,000 (4)		Oscar US Funding Trust VI LLC 2017-1A A3, 2.820%, 06/10/2021			99,701		0.1
	30,000 (4)		SunTrust Auto Receivables Trust 2015-1A B, 2.200%, 02/15/2021			29,693		0.0
						214,601		0.1
			Home Equity Asset-Backed Securities: 0.1%
	431,520		Other Securities			400,437		0.1
			Other Asset-Backed Securities: 2.5%
	76,571	(4)(10)	AJAX Mortgage Loan Trust 2016-C A, 4.000% (Step Rate @ 7.000% on 11/25/2019), 10/25/2057			76,942		0.0
	164,747	(4)(10)	AJAX Mortgage Loan Trust 2017-A A, 3.470% (Step Rate @ 6.470% on 05/25/2020), 04/25/2057			164,004		0.0
	120,000 (4)		ALM VII R-2 Ltd. 2013-7R2A A2R, 4.348%, (US0003M + 2.000%), 10/15/2027			120,194		0.0
	250,000 (4)		ALM VIII Ltd. 2013-8A A1R, 3.838%, (US0003M + 1.490%), 10/15/2028			250,428		0.1
	194,569 (11	(4)(6)(7) )(12)	American Homes 4 Rent 2015-SFR2 XS, 0.000%, 10/17/2045			—		—
	100,000 (4)		Apidos CLO XI 2012-11A BR, 4.303%, (US0003M + 1.950%), 01/17/2028			100,119		0.0
	100,000 (4)		Apidos CLO XVII 2014-17A A2R, 4.203%, (US0003M + 1.850%), 04/17/2026			100,023		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Other Asset-Backed Securities (continued)
	130,000 (4)	Apidos CLO XVII 2014-17A BR, 4.853%, (US0003M + 2.500%), 04/17/2026		$	130,253		0.1
	90,000 (4)	Apidos Clo XXV 2016-25A A1, 3.819%, (US0003M + 1.460%), 10/20/2028			90,087		0.0
	300,000 (4)	Ares XLVI CLO Ltd. 2017-46A A2, 3.578%, (US0003M + 1.230%), 01/15/2030			300,451		0.1
	250,000 (4)	Avery Point IV CLO Ltd. 2014-1A CR, 4.710%, (US0003M + 2.350%), 04/25/2026			250,141		0.1
	250,000 (4)	Babson CLO Ltd. 2014-IA BR, 4.559%, (US0003M + 2.200%), 07/20/2025			250,086		0.1
	250,000 (4)	Benefit Street Partners CLO VIII Ltd. 2015-8A A1BR, 3.559%, (US0003M + 1.200%), 01/20/2031			247,711		0.0
	100,000 (4)	BlueMountain CLO 2014-4A CR, 4.869%, (US0003M + 2.550%), 11/30/2026			100,123		0.0
	250,000 (4)	BlueMountain CLO 2015-1A BR, 4.842%, (US0003M + 2.500%), 04/13/2027			251,236		0.1
	80,000 (4)	Burnham Park Clo Ltd. 2016-1A A, 3.789%, (US0003M + 1.430%), 10/20/2029			80,154		0.0
	250,000 (4)	Carlyle Global Market Strategies CLO Ltd. 2017-1A A1A, 3.659%, (US0003M + 1.300%), 04/20/2031			250,300		0.1
	500,000 (4)	Cedar Funding IV CLO Ltd. 2014-4A CR, 4.612%, (US0003M + 2.250%), 07/23/2030			500,593		0.1
	220,000 (4)	Cedar Funding VI CLO Ltd. 2016-6A A1, 3.829%, (US0003M + 1.470%), 10/20/2028			220,101		0.1
	100,000 (4)	Cent CLO 2014-22A A2AR, 4.313%, (US0003M + 1.950%), 11/07/2026			100,089		0.0
	16,450	Chase Funding Trust Series 2003-5 2A2, 2.691%, (US0001M + 0.600%), 07/25/2033			16,005		0.0

Principal Amount†				Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Other Asset-Backed Securities (continued)
	250,000 (4)		CIFC Funding 2014-4A C1R, 5.003%, (US0003M + 2.650%), 10/17/2026		$	250,101		0.0
	250,000 (4)		CIFC Funding 2016-1A A, 3.842%, (US0003M + 1.480%), 10/21/2028			250,421		0.1
	250,000 (4)		Deer Creek Clo Ltd. 2017-1A A, 3.539%, (US0003M + 1.180%), 10/20/2030			250,093		0.1
	250,000 (4)		Dryden Senior Loan Fund 2017-47A A2, 3.698%, (US0003M + 1.350%), 04/15/2028			250,195		0.0
	250,000 (4)		Dryden Senior Loan Fund 2017-47A C, 4.548%, (US0003M + 2.200%), 04/15/2028			251,317		0.1
	250,000 (4)		Eaton Vance Clo 2015-1A A2R Ltd., 3.609%, (US0003M + 1.250%), 01/20/2030			249,341		0.1
	99,500 (4)		Five Guys Holdings, Inc. 2017-1A A2, 4.600%, 07/25/2047			100,354		0.0
	250,000 (4)		Gilbert Park CLO Ltd. 2017-1A A, 3.538%, (US0003M + 1.190%), 10/15/2030			250,316		0.1
	52,538 (4)		HERO Funding Trust 2015-2A A, 3.990%, 09/20/2040			53,501		0.0
	250,000 (4)		LCM XXIII Ltd. 23A A1, 3.759%, (US0003M + 1.400%), 10/20/2029			251,147		0.1
	200,000	(4)(6)	Mill City Mortgage Loan Trust 2017-2 M2, 3.250%, 07/25/2059			193,389		0.0
	95,253 (4)		Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043			95,632		0.0
	100,000 (4)		Mosaic Solar Loan Trust 2018-2-GS B, 4.740%, 02/20/2044			99,966		0.0
	250,000 (4)		Octagon Investment Partners 30 Ltd. 2017-1A A1, 3.679%, (US0003M + 1.320%), 03/17/2030			250,659		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Other Asset-Backed Securities (continued)
	250,000 (4)	Octagon Investment Partners XIV Ltd. 2012-1A A1BR, 3.723%, (US0003M + 1.375%), 07/15/2029		$	251,044		0.1
	130,000 (4)	OHA Loan Funding Ltd. 2015-1A AR, 3.753%, (US0003M + 1.410%), 08/15/2029			130,669		0.0
	140,000 (4)	OHA Loan Funding Ltd. 2015-1A BR, 4.143%, (US0003M + 1.800%), 08/15/2029			140,130		0.1
	250,000 (4)	Palmer Square CLO 2015-1A BR Ltd., 4.881%, (US0003M + 2.550%), 05/21/2029			251,316		0.1
	250,000 (4)	Palmer Square CLO 2015-2A A1BR Ltd., 3.709%, (US0003M + 1.350%), 07/20/2030			250,786		0.0
	300,000 (4)	Progress Residential 2015-SFR2 E, 4.427%, 06/12/2032			300,506		0.1
	200,000 (4)	SoFi Consumer Loan Program 2017-3 B, 3.850%, 05/25/2026			200,034		0.1
	100,000 (4)	Sofi Consumer Loan Program 2018-2 C Trust, 4.250%, 04/26/2027			99,772		0.0
	125,798 (4)	Springleaf Funding Trust 2015-A A, 3.160%, 11/15/2024			125,766		0.0
	170,000 (4)	Symphony CLO Ltd. 2012-9A AR, 3.798%, (US0003M + 1.450%), 10/16/2028			170,279		0.1
	100,000 (4)	Symphony CLO Ltd. 2016-18A B, 4.162%, (US0003M + 1.800%), 01/23/2028			100,261		0.0
	98,500 (4)	Taco Bell Funding 2016-1A A2I, 3.832%, 05/25/2046			98,802		0.0
	24,625 (4)	Taco Bell Funding LLC 2016-1A A2II, 4.377%, 05/25/2046			25,012		0.0
	250,000 (4)	Thacher Park CLO Ltd. 2014-1A CR, 4.559%, (US0003M + 2.200%), 10/20/2026			250,087		0.1

Principal Amount†				Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Other Asset-Backed Securities (continued)
	250,000 (4)		THL Credit Wind River 2017-1A C CLO Ltd., 4.655%, (US0003M + 2.300%), 04/18/2029		$	250,790		0.1
	250,000 (4)		THL Credit Wind River 2017-2A A CLO Ltd., 3.589%, (US0003M + 1.230%), 07/20/2030			250,286		0.1
	210,000 (4)		Wind River CLO Ltd. 2016-2A A, 3.858%, (US0003M + 1.500%), 11/01/2028			210,248		0.0
	250,000 (4)		Tiaa Clo III Ltd 2017-2A A, 3.498%, (US0003M + 1.150%), 01/16/2031			249,624		0.1
	200,000	(4)(6)	Towd Point Mortgage Trust 2017-6 M2, 3.250%, 10/25/2057			185,939		0.0
	99,500 (4)		Wendys Funding LLC 2018-1A A2I, 3.573%, 03/15/2048			96,890		0.0
						10,033,713		2.5
			Student Loan Asset-Backed Securities: 0.1%
	23,123 (4)		DRB Prime Student Loan Trust 2015-B A2, 3.170%, 07/25/2031			23,067		0.0
	52,497 (4)		DRB Prime Student Loan Trust 2015-D A2, 3.200%, 01/25/2040			52,451		0.0
	54,909 (4)		Earnest Student Loan Program, LLC 2016-A B, 2.500%, 01/25/2039			52,261		0.0
	100,000 (4)		SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041			93,946		0.0
	36,418 (4)		SoFi Professional Loan Program 2015-C A2, 2.510%, 08/25/2033			35,791		0.0
	100,000	(4)(6)	SoFi Professional Loan Program 2016-E C, 4.430%, 10/25/2041			96,874		0.0
	100,000	(4)(6)	SoFi Professional Loan Program 2017-C B, 3.560%, 07/25/2040			95,932		0.0
	100,000 (4)		SoFi Professional Loan Program 2017-F BFX LLC, 3.620%, 01/25/2041			97,374		0.1
						547,696		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Total Asset-Backed Securities (Cost $11,180,314)		$	11,196,447		2.8
		Total Long-Term Investments (Cost $374,528,533)			383,441,554		96.5
SHORT-TERM INVESTMENTS: 7.9%
		Securities Lending Collateral(13): 1.4%
	4,454,112	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $4,454,873, collateralized by various U.S. Government Agency Obligations, 1.691%- 8.500%, Market Value plus accrued interest $4,543,194, due 07/25/18-06/15/53)			4,454,112		1.1
	1,186,699	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $1,186,889, collateralized by various U.S. Government Securities, 0.000%- 3.625%, Market Value plus accrued interest $1,210,436, due 01/31/20-09/09/49)			1,186,699		0.3
					5,640,811		1.4

Shares			Value		Percentage of Net Assets
		Mutual Funds: 6.5%
	2,445,750 (14)	BlackRock Liquidity Funds, FedFund, Institutional Class, 1.800%		2,445,750		0.6
	23,223,000 (14)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%		23,223,000		5.9
		Total Mutual Funds (Cost $25,668,750)		25,668,750		6.5
		Total Short-Term Investments (Cost $31,309,561)		31,309,561		7.9

Shares		Value			Percentage of Net Assets
	Total Investments in Securities (Cost $405,838,094)		$	414,751,115		104.4
	Liabilities in Excess of Other Assets			(17,476,305)		(4.4)
	Net Assets		$	397,274,810		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

ADR

American Depositary Receipt

(1)

Non-income producing security.

(2)

The grouping contains securities on loan.

(3)

The grouping contains non-income producing securities.

(4)

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.

(5)

Security, or a portion of the security, is on loan.

(6)

Variable rate security. Rate shown is the rate in effect as of June 30, 2018.

(7)

Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security.

(8)

(9)

Settlement is on a when-issued or delayed-delivery basis.

(10)

Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rates shown reflect the current and next coupon rate as of June 30, 2018.

(11)

For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.

(12)

Represents a zero coupon bond. Rate shown reflects the effective yield as of June 30, 2018.

(13)

Represents securities purchased with cash collateral received for securities on loan.

(14)

Rate shown is the 7-day yield as of June 30, 2018.

Reference Rate Abbreviations:

12MTA

12-month Treasury Average

US0001M

1-month LIBOR

US0003M

3-month LIBOR

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Consumer Discretionary		$	12,485,904		$	4,573,566		$	—		$	17,059,470
Consumer Staples			8,199,659			4,593,669			—			12,793,328
Energy			8,819,235			1,381,383			—			10,200,618
Financials			17,978,443			8,878,215			—			26,856,658
Health Care			17,637,192			4,784,648			—			22,421,840
Industrials			13,860,947			7,305,682			—			21,166,629
Information Technology			36,084,542			2,980,501			—			39,065,043
Materials			4,078,361			3,428,253			—			7,506,614
Real Estate			5,165,540			1,516,045			—			6,681,585
Telecommunication Services			755,690			1,724,636			—			2,480,326
Utilities			4,510,245			1,591,065			—			6,101,310
Total Common Stock			129,575,758			42,757,663			—			172,333,421
Exchange-Traded Funds			78,826,545			—			—			78,826,545
Mutual Funds			35,114,195			—			—			35,114,195
Preferred Stock			45,829			261,050			—			306,879
Rights			20,048			—			—			20,048
Corporate Bonds/Notes			—			30,648,780			—			30,648,780
Collateralized Mortgage Obligations			—			13,666,460			—			13,666,460
Commercial Mortgage-Backed Securities			—			5,052,347			—			5,052,347
U.S. Treasury Obligations			—			14,180,480			—			14,180,480
Foreign Government Bonds			—			3,332,694			—			3,332,694
U.S. Government Agency Obligations			—			18,763,258			—			18,763,258
Asset-Backed Securities			—			11,196,447			—			11,196,447
Short-Term Investments			25,668,750			5,640,811			—			31,309,561
Total Investments, at fair value		$	269,251,125		$	145,499,990		$	—		$	414,751,115
Other Financial Instruments+
Centrally Cleared Swaps			—			225,227			—			225,227
Forward Foreign Currency Contracts			—			132,988			—			132,988
Forward Premium Swaptions			—			14,806			—			14,806
Futures			200,179			—			—			200,179
Total Assets		$	269,451,304		$	145,873,011		$	—		$	415,324,315
Liabilities Table
Other Financial Instruments+
Centrally Cleared Swaps		$	—		$	(169,246)		$	—		$	(169,246)
Forward Foreign Currency Contracts			—			(28,183)			—			(28,183)
Futures			(470,598)			—			—			(470,598)
Total Liabilities		$	(470,598)		$	(197,429)		$	—		$	(668,027)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended June 30, 2018, where the following issuers were considered an affiliate:

Issuer	Beginning Fair Value at 12/31/17			Purchases at Cost			Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Fair Value at 6/30/2018			Investment Income			Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Local Currency Debt Fund - Class P		$	—		$	1,519,947		$	—		$	(172,571)		$	1,347,376		$	19,947		$	—		$	—
Voya Floating Rate Fund - Class P			12,915,812			421,899			(1,353,563)			(43,281)			11,940,867			304,418			7,839
Voya High Yield Bond Fund - Class P			17,250,287			741,349			(1,505,320)			(497,833)			15,988,483			518,153			(37,257)			—
		$	30,166,099		$	2,683,195		$	(2,858,883)		$	(713,685)		$	29,276,726		$	842,518		$	(29,418)		$	—

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya Balanced Portfolio:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD 129,000

MYR 503,680

Barclays Bank PLC

07/13/18

4,316

USD 120,583

IDR 1,682,971,172

Barclays Bank PLC

07/13/18

3,205

USD 120,000

THB 3,724,404

Barclays Bank PLC

07/13/18

7,554

IDR 509,724,000

USD 36,000

Barclays Bank PLC

07/13/18

(450)

USD 103,203

BRL 382,726

Barclays Bank PLC

08/10/18

4,895

MXN 165,216

USD 8,060

Barclays Bank PLC

08/10/18

208

USD 198,093

CLP 125,686,374

Barclays Bank PLC

08/10/18

5,718

USD 103,191

BRL 382,726

Barclays Bank PLC

08/10/18

4,883

USD 133,271

ZAR 1,630,684

Barclays Bank PLC

08/10/18

14,991

HUF 29,250,472

USD 108,000

Barclays Bank PLC

08/10/18

(4,023)

USD 137,000

BRL 505,349

BNP Paribas

08/10/18

7,195

USD 175,000

IDR 2,427,337,500

Citibank N.A.

07/13/18

5,708

ZAR 118,775

USD 9,000

Citibank N.A.

08/10/18

(385)

USD 36,000

HUF 9,761,591

Citibank N.A.

08/10/18

1,300

HUF 29,125,375

USD 108,000

Citibank N.A.

08/10/18

(4,467)

USD 9,000

CZK 194,381

Citibank N.A.

08/10/18

241

USD 50,000

CZK 1,039,440

Citibank N.A.

08/10/18

3,160

USD 99,859

COP 289,035,514

Citibank N.A.

08/10/18

1,418

USD 64,000

CZK 1,379,263

Citibank N.A.

08/10/18

1,846

CZK 2,114,702

USD 100,000

Citibank N.A.

08/10/18

(4,705)

USD 50,000

CZK 1,038,607

Citibank N.A.

08/10/18

3,197

USD 45,000

PHP 2,401,830

Goldman Sachs International

07/13/18

IDR 968,034,044

USD 68,104

Goldman Sachs International

07/13/18

(590)

COP 15,039

USD 5

Goldman Sachs International

08/10/18

—

USD 90,000

PLN 332,952

Goldman Sachs International

08/10/18

1,061

CLP 11,244,672

USD 18,000

Goldman Sachs International

08/10/18

(789)

BRL 332,375

USD 85,000

Goldman Sachs International

08/10/18

375

USD 90,000

PLN 329,470

Goldman Sachs International

08/10/18

1,991

USD 18,000

RUB 1,124,898

Goldman Sachs International

08/10/18

163

CZK 1,926,571

USD 91,000

Goldman Sachs International

08/10/18

(4,182)

USD 139,120

RUB 8,728,920

Goldman Sachs International

08/10/18

713

BRL 326,468

USD 85,000

Goldman Sachs International

08/10/18

(1,142)

USD 36,000

BRL 133,502

Goldman Sachs International

08/10/18

1,708

USD 64,644

HUF 16,205,271

Goldman Sachs International

08/10/18

7,039

USD 139,146

RUB 8,728,920

Goldman Sachs International

08/10/18

738

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD 139,125

RUB 8,728,920

Goldman Sachs International

08/10/18

718

USD 139,118

RUB 8,728,920

Goldman Sachs International

08/10/18

711

USD 369,679

MXN 7,441,867

HSBC Bank USA N.A.

08/10/18

(2,729)

USD 220,691

PLN 746,259

HSBC Bank USA N.A.

08/10/18

21,349

USD 18,110

CZK 369,770

HSBC Bank USA N.A.

08/10/18

1,446

USD 103,378

BRL 382,726

HSBC Bank USA N.A.

08/10/18

5,070

USD 90,072

TRY 382,027

HSBC Bank USA N.A.

08/10/18

8,285

USD 267,368

PEN 876,680

HSBC Bank USA N.A.

08/10/18

824

USD 37,241

RON 139,835

HSBC Bank USA N.A.

08/10/18

2,288

CZK 2,114,347

USD 100,000

JPMorgan Chase Bank N.A.

08/10/18

(4,721)

USD 181,000

HUF 48,486,199

JPMorgan Chase Bank N.A.

08/10/18

8,645

104,805

At June 30, 2018, the following futures contracts were outstanding for Voya Balanced Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
Russell 2000® Mini Index		191		09/21/18		$	15,733,625		$	(284,341)
S&P 500 E-Mini		49		09/21/18			6,667,920			(135,938)
U.S. Treasury 10-Year Note		25		09/19/18			3,004,688			14,905
U.S. Treasury 2-Year Note		64		09/28/18			13,557,000			(635)
U.S. Treasury 5-Year Note		8		09/28/18			908,938			1,187
U.S. Treasury Long Bond		4		09/19/18			580,000			(1,664)
U.S. Treasury Ultra Long Bond		22		09/19/18			3,510,375			(9,641)
						$	43,962,546		$	(416,127)
Short Contracts:
Euro-Bobl 5-Year		(31)		09/06/18			(4,784,798)			(38,379)
Mini MSCI Emerging Markets Index		(151)		09/21/18			(8,027,915)			148,758
U.S. Treasury Ultra 10-Year Note		(54)		09/19/18			(6,924,656)			35,329
						$	(19,737,369)		$	145,708

At June 30, 2018, the following centrally cleared interest rate swaps were outstanding for Voya Balanced Portfolio:

Pay/Receive
Floating Rate

Floating
Rate Index

Floating Rate
Index
Payment
Frequency

Fixed
Rate

Fixed Rate
Payment
Frequency

Maturity
Date

Notional
Amount

Fair
Value

Unrealized
Appreciation/
(Depreciation)

Pay

3-month USD-LIBOR

Quarterly

1.785%

Semi-Annual

10/13/22

USD1,701,000

(76,206)

Pay

3-month USD-LIBOR

Quarterly

2.099

Semi-Annual

10/13/25

USD58,000

(3,159)

Pay

3-month USD-LIBOR

Quarterly

2.372

Semi-Annual

10/13/30

USD612,000

(39,536)

Pay

3-month USD-LIBOR

Quarterly

2.510

Semi-Annual

10/13/35

USD729,000

(50,345)

Receive

3-month USD-LIBOR

Quarterly

1.036

Semi-Annual

10/13/18

USD3,984,000

16,078

Receive

3-month USD-LIBOR

Quarterly

1.668

Semi-Annual

10/30/19

USD7,138,000

95,544

Receive

3-month USD-LIBOR

Quarterly

1.453

Semi-Annual

10/13/20

USD715,000

21,681

Receive

3-month USD-LIBOR

Quarterly

2.593

Semi-Annual

10/13/40

USD221,000

15,227

Receive

3-month USD-LIBOR

Quarterly

2.619

Semi-Annual

10/13/45

USD1,071,000

76,697

55,981

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the following over-the-counter forward premium swaptions were outstanding for Voya Balanced Portfolio:

Description

Counterparty

Exercise
Rate

Pay/
Receive
Exercise
Rate

Floating
Rate
Index

Expiration
Date

Notional
Amount

Premium
receivable/
(payable)
at expiration

Unrealized
Appreciation/
(Depreciation)

Call on 5-year Interest Rate Swap (Purchased)

Bank of America
N.A.

0.000%

Receive

3-month
USD-LIBOR

02/20/19

USD 2,150,000

(115,025)

2,315

Call on 5-Year Interest Rate Swap (Purchased)

Barclays Bank
PLC

0.000%

Receive

3-month
USD-LIBOR

04/25/19

USD 3,055,000

(161,533)

5,057

Call on 5-Year Interest Rate Swap (Purchased)

Morgan Stanley
Capital Services
LLC

0.000%

Receive

3-month
USD-LIBOR

02/13/19

USD 2,150,000

(116,531)

782

Call on 5-Year Interest Rate Swap (Purchased)

Morgan Stanley
Capital Services
LLC

0.000%

Receive

3-month
USD-LIBOR

03/06/19

USD 2,150,000

(115,186)

2,116

Call on 5-Year Interest Rate Swap (Purchased)

Morgan Stanley
Capital Services
LLC

0.000%

Receive

3-month
USD-LIBOR

04/25/19

USD 3,395,000

(180,614)

4,536

(688,889)

14,806

Currency Abbreviations

BRL – Brazilian Real
CLP – Chilean Peso
COP – Colombian Peso
CZK – Czech Koruna
HUF – Hungarian Forint
IDR – Indonesian Rupiah
MXN – Mexican Peso
MYR – Malaysian Ringgit
PEN – Peruvian Nuevo Sol
PHP – Philippine Peso
PLN – Polish Zloty
RON – Romanian New Leu
RUB – Russian Ruble
THB – Thai Baht
TRY – Turkish Lira
USD – United States Dollar
ZAR – South African Rand

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Asset Derivatives
Foreign exchange contracts	Unrealized appreciation on forward foreign currency contracts		$	132,988
Equity contracts	Net Assets — Unrealized appreciation*			148,758
Interest rate contracts	Net Assets — Unrealized appreciation*			51,421
Interest rate contracts	Net Assets — Unrealized appreciation**			225,227
Interest rate contracts	Net Assets — Unrealized appreciation***			14,806
Total Asset Derivatives			$	573,200
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	28,183
Equity contracts	Net Assets — Unrealized depreciation*			420,279
Interest rate contracts	Net Assets — Unrealized depreciation*			50,319
Interest rate contracts	Net Assets — Unrealized depreciation**			169,246
Total Liability Derivatives			$	668,027

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

Includes cumulative appreciation/depreciation of centrally cleared swaps as reported in the table following the Portfolio of Investments. Only current days variation margin receivable/payable is included on the Statement of Assets and Liabilities.

***

Includes cumulative appreciation/depreciation of forward premium swaptions as reported in the following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts**			Futures			Swaps			Total
Credit contracts		$	—		$	—		$	72,467		$	72,467
Equity contracts			—			1,165,432			—			1,165,432
Foreign exchange contracts			114,821						—			114,821
Interest rate contracts			—			(287,642)			22,884			(264,758)
Total		$	114,821		$	877,790		$	95,351		$	1,087,962

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Investments*			Forward foreign currency contracts**			Futures			Swaps			Total
Credit contracts		$	—		$	—		$	—		$	(3,536)		$	(3,536)
Equity contracts			—			—			(545,989)			—			(545,989)
Foreign exchange contracts			—			113,902			—			—			113,902
Interest rate contracts			14,806			—			25,271			28,769			68,846
Total		$	14,806		$	113,902		$	(520,718)		$	25,233		$	(366,777)

Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments.

Amounts recognized for forward foreign currency contracts are included in net realized gain (loss) on foreign currency related transactions and net change in unrealized appreciation or depreciation on foreign currency related transactions.

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	Bank of America N.A.			Barclays Bank PLC			BNP Paribas			Citibank N.A.			Deutsche Bank AG			Goldman Sachs International			HSBC Bank USA N.A.			JPMorgan Chase Bank N.A.			Morgan Stanley Capital Services LLC			The Bank of New York Mellon			Totals
Assets:
Forward foreign currency contracts		$	—		$	45,770		$	7,195		$	16,870		$	—		$	15,246		$	39,262		$	8,645		$	—		$	—		$	132,988
Forward premium swaptions			2,315			5,057			—			—			—			—			—			—			7,434			—			14,806
Total Assets		$	2,315		$	50,827		$	7,195		$	16,870		$	—		$	15,246		$	39,262		$	8,645		$	7,434		$	—		$	147,794
Liabilities:
Forward foreign currency contracts		$	—		$	4,473		$	—		$	9,557					$	6,703		$	2,729		$	4,721		$	—					$	28,183
Total Liabilities		$	—		$	4,473		$	—		$	9,557		$	—		$	6,703		$	2,729		$	4,721		$	—		$	—		$	28,183
Net OTC derivative instruments by counterparty, at fair value		$	2,315		$	46,354		$	7,195		$	7,313		$	—		$	8,543		$	36,533		$	3,924		$	7,434		$	—			119,611
Total collateral pledged by the Portfolio/ (Received from counterparty)		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net Exposure(1)		$	2,315		$	46,354		$	7,195		$	7,313		$	—		$	8,543		$	36,533		$	3,924		$	7,434		$	—		$	119,611

(1)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Balanced Portfolio

as of June 30, 2018 (Unaudited) (continued)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $408,302,643.

Net unrealized appreciation consisted of:

Gross Unrealized Appreciation	$	18,578,825
Gross Unrealized Depreciation		(12,108,199)
Net Unrealized Appreciation	$	6,470,626

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Global Equity Portfolio

as of June 30, 2018 (Unaudited)

	Geographic Diversification as of June 30, 2018 (as a percentage of net assets)

	United States			58.3%
	Japan			8.5%
	United Kingdom			4.9%
	Germany			4.5%
	Canada			4.2%
	Netherlands			3.9%
	Switzerland			2.5%
	Australia			2.0%
	France			1.9%
	Israel			1.3%
	Countries between 0.3% – 1.2%^			7.1%
	Assets in Excess of Other Liabilities*			0.9%
	Net Assets			100.0%
	* Includes short-term investments.
	^ Includes 11 countries, which each represents 0.3% – 1.2% of net assets.
	Portfolio holdings are subject to change daily.

Shares			Value			Percentage of Net Assets
COMMON STOCK: 99.1%
		Australia: 2.0%
	201,353	National Australia Bank Ltd.		$	4,088,395		0.6
	2,639,870	Other Securities			9,038,720		1.4
					13,127,115		2.0
		Belgium: 0.8%
	62,494	Other Securities			5,310,088		0.8
		Canada: 4.2%
	48,700 (1)	Canadian Imperial Bank of Commerce - XTSE			4,236,361		0.6
	695,700 (2)	Other Securities			22,945,010		3.6
					27,181,371		4.2
		China: 0.6%
	752,500	Other Securities			3,536,703		0.6
		Denmark: 0.7%
	92,088	Novo Nordisk A/S			4,253,597		0.7
		Finland: 0.5%
	99,335	Other Securities			3,117,436		0.5
		France: 1.9%
	328,531	Other Securities			12,358,949		1.9
		Germany: 4.5%
	44,818	Bayer AG			4,922,133		0.8
	42,994 (3)	Covestro AG			3,821,466		0.6
	46,627	Hugo Boss AG			4,228,562		0.6
	496,153	Other Securities			15,943,437		2.5
					28,915,598		4.5
		Hong Kong: 1.2%
	3,341,800	Other Securities			7,666,718		1.2

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Israel: 1.3%
	2,778,587	Other Securities		$	8,645,516		1.3
		Japan: 8.5%
	268,300	Astellas Pharma, Inc.			4,083,146		0.6
	33,800	Oracle Corp. Japan			2,754,871		0.4
	100,100	Seven & I Holdings Co., Ltd.			4,365,930		0.7
	1,370,636	Other Securities			43,609,458		6.8
					54,813,405		8.5
		Luxembourg: 0.3%
	26,136	Other Securities			1,771,161		0.3
		Netherlands: 3.9%
	183,829	Koninklijke Ahold Delhaize NV			4,389,400		0.7
	40,000	LyondellBasell Industries NV - Class A			4,394,000		0.7
	244,435	Royal Dutch Shell PLC - Class A			8,459,625		1.3
	356,726	Other Securities			7,703,676		1.2
					24,946,701		3.9
		New Zealand: 0.3%
	692,712	Other Securities			1,748,238		0.3
		Panama: 0.4%
	27,900	Other Securities			2,639,898		0.4
		Portugal: 0.4%
	167,284	Other Securities			2,409,643		0.4
		Singapore: 1.2%
	3,207,300	Other Securities			7,818,494		1.2
		Spain: 0.7%
	218,068 (2)	Other Securities			4,668,841		0.7
		Switzerland: 2.5%
	25,581	Roche Holding AG			5,675,354		0.9
	14,080	Zurich Insurance Group AG			4,163,879		0.7
	62,534	Other Securities			6,065,521		0.9
					15,904,754		2.5
		United Kingdom: 4.9%
	225,382	GlaxoSmithKline PLC			4,543,909		0.7
	4,832,170	Other Securities			27,002,722		4.2
					31,546,631		4.9
		United States: 58.3%
	99,400	Aflac, Inc.			4,276,188		0.7
	46,400	Amphenol Corp.			4,043,760		0.6
	62,800	Apple, Inc.			11,624,908		1.8
	198,215	AT&T, Inc.			6,364,684		1.0
	13,500	Boeing Co.			4,529,385		0.7
	86,900	Bristol-Myers Squibb Co.			4,809,046		0.8
	53,000	Chevron Corp.			6,700,790		1.0
	160,128	Cisco Systems, Inc.			6,890,308		1.1
	39,400	Darden Restaurants, Inc.			4,218,164		0.7

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Global Equity Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		United States (continued)
	58,500	Eli Lilly & Co.		$	4,991,805		0.8
	67,430	Exxon Mobil Corp.			5,578,484		0.9
	43,400	Fidelity National Information Services, Inc.			4,601,702		0.7
	36,569	Home Depot, Inc.			7,134,612		1.1
	34,900	Honeywell International, Inc.			5,027,345		0.8
	205,300	HP, Inc.			4,658,257		0.7
	15,500	Humana, Inc.			4,613,265		0.7
	145,500	Intel Corp.			7,232,805		1.1
	38,400	International Business Machines Corp.			5,364,480		0.8
	70,300	Johnson & Johnson			8,530,202		1.3
	14,600	Lockheed Martin Corp.			4,313,278		0.7
	35,700	McDonald’s Corp.			5,593,833		0.9
	35,400	Motorola Solutions, Inc.			4,119,498		0.6
	123,700	Oracle Corp.			5,450,222		0.9
	48,500	PepsiCo, Inc.			5,280,195		0.8
	197,100	Pfizer, Inc.			7,150,788		1.1
	68,745	Philip Morris International, Inc.			5,550,471		0.9
	38,800	Phillips 66			4,357,628		0.7
	20,900	Raytheon Co.			4,037,462		0.6
	35,700	T. Rowe Price Group, Inc.			4,144,413		0.7
	53,954	Target Corp.			4,106,978		0.6
	51,200	Texas Instruments, Inc.			5,644,800		0.9
	32,000	UnitedHealth Group, Inc.			7,850,880		1.2
	94,800	US Bancorp			4,741,896		0.7
	44,200	Valero Energy Corp.			4,898,686		0.8
	65,100	Walmart, Inc.			5,575,815		0.9
	109,700	Wells Fargo & Co.			6,081,768		1.0
	200,300	Western Union Co.			4,072,099		0.6
	4,085,830	Other Securities			169,475,480		26.4
					373,636,380		58.3
		Total Common Stock (Cost $642,180,192)			636,017,237		99.1
EXCHANGE-TRADED FUNDS: 0.2%
	9,363	Other Securities			1,287,166		0.2
		Total Exchange-Traded Funds (Cost $1,324,801)			1,287,166		0.2
		Total Long-Term Investments (Cost $643,504,993)		$	637,304,403		99.3

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.4%
		Securities Lending Collateral(4): 2.4%
	3,609,755	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $3,610,372, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $3,681,950, due 07/25/18-06/15/53)		$	3,609,755		0.6
	3,609,755	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $3,610,348, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $3,681,950, due 07/05/18-09/09/49)			3,609,755		0.6
	3,609,755	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $3,610,431, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $3,681,951, due 11/15/42-08/15/44)			3,609,755		0.6
	759,285	Nomura Securities, Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $759,417, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%-9.000%, Market Value plus accrued interest $774,471, due 07/15/18-05/20/68)			759,285		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Global Equity Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(4) (continued)
	3,609,755	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $3,610,437, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $3,681,977, due 07/15/19-02/15/48)		$	3,609,755		0.5
					15,198,305		2.4
		Total Short-Term Investments (Cost $15,198,305)			15,198,305		2.4
		Total Investments in Securities (Cost $658,703,298)		$	652,502,708		101.7
		Liabilities in Excess of Other Assets			(11,063,104)		(1.7)
		Net Assets		$	641,439,604		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Security, or a portion of the security, is on loan.

(2)

The grouping contains securities 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)

Represents securities purchased with cash collateral received for securities on loan.

Sector Diversification	Percentage of Net Assets
Information Technology		17.3%
Financials		16.9
Consumer Discretionary		12.1
Health Care		12.0
Industrials		10.1
Consumer Staples		9.4
Energy		5.7
Materials		4.1
Utilities		4.1
Real Estate		3.8
Telecommunication Services		3.6
Exchange-Traded Funds		0.2
Short-Term Investments		2.4
Liabilities in Excess of Other Assets		(1.7)
Net Assets		100.0%

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock
Australia		$	—		$	13,127,115		$	—		$	13,127,115
Belgium			—			5,310,088			—			5,310,088
Canada			27,181,371			—			—			27,181,371
China			—			3,536,703			—			3,536,703
Denmark			—			4,253,597			—			4,253,597
Finland			—			3,117,436			—			3,117,436
France			—			12,358,949			—			12,358,949
Germany			—			28,915,598			—			28,915,598
Hong Kong			—			7,666,718			—			7,666,718
Israel			—			8,645,516			—			8,645,516
Japan			—			54,813,405			—			54,813,405
Luxembourg			—			1,771,161			—			1,771,161

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Global Equity Portfolio

as of June 30, 2018 (Unaudited) (continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs# (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Netherlands			4,394,000			20,552,701			—			24,946,701
New Zealand			—			1,748,238			—			1,748,238
Panama			2,639,898			—			—			2,639,898
Portugal			—			2,409,643			—			2,409,643
Singapore			—			7,818,494			—			7,818,494
Spain			—			4,668,841			—			4,668,841
Switzerland			—			15,904,754			—			15,904,754
United Kingdom			—			31,546,631			—			31,546,631
United States			373,636,380			—			—			373,636,380
Total Common Stock			407,851,649			228,165,588			—			636,017,237
Exchange-Traded Funds			1,287,166			—			—			1,287,166
Short-Term Investments			—			15,198,305			—			15,198,305
Total Investments, at fair value		$	409,138,815		$	243,363,893		$	—		$	652,502,708

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

	Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	1,119,873
Total		$	1,119,873

	Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
Derivatives not accounted for as hedging instruments	Futures
Equity contracts		$	(1,063,402)
Total		$	(1,063,402)

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $657,939,363.

Net unrealized depreciation consisted of:

Gross Unrealized Appreciation	$	23,951,890
Gross Unrealized Depreciation		(30,256,414)
Net Unrealized Depreciation	$	(6,304,524)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

PORTFOLIO OF INVESTMENTS

Voya Government Money Market Portfolio

as of June 30, 2018 (Unaudited)

	Investment Type Allocation as of June 30, 2018 (as a percentage of net assets)

	U.S. Government Agency Debt			46.7%
	U.S. Treasury Repurchase Agreement			13.9%
	Investment Companies			5.9%
	U.S. Treasury Debt			3.4%
	Assets in Excess of Other Liabilities			30.1%
	Net Assets			100.0%
	Portfolio holdings are subject to change daily.

Principal Amount†			Value			Percentage of Net Assets
U.S. GOVERNMENT AGENCY DEBT: 46.7%
	350,000	Federal Farm Credit Banks, 1.750%, 09/28/2018		$	349,266		0.1
	1,000,000	Federal Farm Credit Banks, 1.910%, 01/25/2019			996,158		0.2
	4,250,000	Federal Farm Credit Banks, 1.920%, (PRIME + (3.080)%), 03/12/2019			4,250,585		1.0
	3,250,000	Federal Farm Credit Banks, 1.940%, (US0001M + (0.060)%), 04/03/2019			3,250,900		0.8
	1,200,000	Federal Farm Credit Banks, 2.010%, (US0001M + (0.085)%), 05/24/2019			1,200,214		0.3
	3,000,000	Federal Farm Credit Banks, 2.110%, (USBMMY3M + 0.200%), 11/14/2018			3,002,456		0.7
	875,000	Federal Farm Credit Banks, 2.110%, 01/07/2019			870,006		0.2
	1,500,000	Federal Farm Credit Banks, 2.120%, (US0001M + 0.140%), 08/01/2018			1,500,371		0.4
	600,000	Federal Farm Credit Banks, 2.150%, (US0001M + 0.065%), 10/22/2018			600,349		0.1
	10,500,000	Federal Farm Credit Banks, 2.000%, (USBMMY3M + 0.100%), 01/25/2019			10,508,931		2.5
	2,000,000	Federal Farm Credit Banks, 2.250%, (US0001M + 0.170%), 01/22/2019			2,003,409		0.5
	250,000 (1)	Federal Farm Credit Discount Notes, 0.000%, 10/31/2018			248,475		0.1
	9,250,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 07/02/2018			9,249,522		2.2
	54,650,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 07/05/2018			54,638,801		13.0

Principal Amount†			Value			Percentage of Net Assets
U.S. GOVERNMENT AGENCY DEBT: (continued)
	15,500,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 07/10/2018		$	15,492,812		3.7
	950,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 07/18/2018			949,161		0.2
	9,600,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 07/20/2018			9,590,525		2.3
	3,900,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 07/25/2018			3,895,138		0.9
	500,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 07/27/2018			499,317		0.1
	8,750,000 (1)	Federal Home Loan Bank Discount Notes, 0.000%, 08/27/2018			8,723,677		2.1
	6,000,000	Federal Home Loan Banks, 1.860%, (US0001M + (0.140)%), 01/02/2019			5,999,242		1.4
	1,500,000	Federal Home Loan Banks, 1.940%, (US0001M + (0.090)%), 11/08/2018			1,500,183		0.4
	6,000,000	Federal Home Loan Banks, 1.950%, (US0001M + (0.130)%), 08/20/2018			6,000,000		1.4
	7,600,000	Federal Home Loan Banks, 1.960%, (US0001M + (0.125)%), 11/16/2018			7,600,000		1.8
	1,000,000	Federal Home Loan Banks, 1.990%, (US0001M + (0.090)%), 01/22/2019			1,000,083		0.2
	5,000,000	Federal Home Loan Banks, 2.110%, (US0003M + (0.220)%), 07/09/2018			4,999,978		1.2
	400,000	Federal Home Loan Banks, 2.150%, (US0003M + (0.200)%), 01/18/2019			400,340		0.1
	1,000,000	Federal Home Loan Banks, 2.170%, (US0003M + (0.160)%), 06/27/2019			1,001,208		0.2
	500,000	Federal Home Loan Mortgage Corp., 1.820%, 11/19/2018			498,782		0.1
	7,500,000	Federal Home Loan Mortgage Corp., 1.960%, (US0001M + (0.130)%), 11/21/2018			7,500,000		1.8
	22,750,000	Federal Home Loan Mortgage Corp., 1.980%, (US0001M + (0.125)%), 11/27/2018			22,750,000		5.4

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

PORTFOLIO OF INVESTMENTS

Voya Government Money Market Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
U.S. GOVERNMENT AGENCY DEBT: (continued)
	4,000,000	Federal Home Loan Mortgage Corp., 2.110%, (US0003M + (0.250)%), 07/24/2018		$	3,999,998		0.9
	223,000	Federal National Mortgage Association, 1.800%, 10/29/2018			222,510		0.1
	1,300,000	Federal National Mortgage Association, 1.920%, 07/20/2018			1,299,340		0.3
		Total U.S. Government Agency Debt (Cost $196,591,737)			196,591,737		46.7
U.S. TREASURY DEBT: 3.4%
	14,250,000	United States Treasury Bill, 1.930%, 09/27/2018			14,177,282		3.4
		Total U.S. Treasury Debt (Cost $14,177,282)			14,177,282		3.4
U.S. TREASURY REPURCHASE AGREEMENT: 13.9%
		Repurchase Agreement: 13.9%
	58,417,000	Deutsche Bank Repurchase Agreement dated 6/29/2018, 2.0800%, due 7/2/2018, $58,427,126 to be received upon repurchase (Collateralized by $113,791,680, U.S. Treasury STRIP Coupon, 0.00%, Market Value plus accrued interest $60,169,510 due 8/15/27-2/15/46), 0.000%			58,417,000		13.9
		Total U.S. Treasury Repurchase Agreement (Cost $58,417,000)			58,417,000		13.9

Shares			Value			Percentage of Net Assets
INVESTMENT COMPANIES: 5.9%
	10,000,000 (2)	Goldman Sachs Financial Square Government Fund - Institutional Shares, 1.810%, 07/02/18		$	10,000,000		2.4
	15,000,000 (2)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.800%, 07/02/18			15,000,000		3.5
		Total Investment Companies (Cost $25,000,000)			25,000,000		5.9
		Total Investments in Securities (Cost $294,186,019)		$	294,186,019		69.9
		Assets in Excess of Other Liabilities			126,727,847		30.1
		Net Assets		$	420,913,866		100.0

†

Unless otherwise indicated, principal amount is shown in USD.

(1)

Represents a zero coupon bond. Rate shown reflects the effective yield as of June 30, 2018.

(2)

Rate shown is the 7-day yield as of June 30, 2018.

Reference Rate Abbreviations:

PRIME

Federal Reserve Bank Prime Loan Rate

US0001M

1-month LIBOR

US0003M

3-month LIBOR

USBMMY3M

U.S. Treasury 3-month Bill Money Market Yield

At June 30, 2018, the aggregate cost of securities for federal income tax purposes is the same as for financial statement purposes.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
U.S. Treasury Debt		$	—		$	14,177,282		$	—		$	14,177,282
U.S. Treasury Repurchase Agreement			—			58,417,000			—			58,417,000
U.S. Government Agency Debt			—			196,591,737			—			196,591,737
Investment Companies			25,000,000			—			—			25,000,000
Total Investments, at fair value		$	25,000,000		$	269,186,019		$	—		$	294,186,019

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

PORTFOLIO OF INVESTMENTS

Voya Government Money Market Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following table is a summary of the Portfolio’s repurchase agreements by counterparty which are subject to offset under a MRA as of June 30, 2018:

Counterparty	Government Repurchase Agreement, at fair value	Fair Value of Non-Cash Collateral Received Including Accrued Interest(1)			Net Amount
Deutsche Bank	$58,417,000		$	(58,417,000)		$	—
Totals	$58,417,000		$	(58,417,000)		$	—

(1)

Collateral with a fair value of $60,169,510 has been pledged in connection with the above government repurchase agreement. Excess collateral received from the individual counterparty is not shown for financial reporting purposes.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Growth and Income Portfolio

as of June 30, 2018 (Unaudited)


	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Information Technology			26.8%
	Health Care			13.7%
	Consumer Discretionary			13.1%
	Financials			12.6%
	Energy			7.7%
	Industrials			7.1%
	Consumer Staples			5.7%
	Utilities			4.2%
	Materials			3.9%
	Real Estate			2.2%
	Telecommunication Services			1.9%
	Assets in Excess of Other Liabilities*			1.1%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares			Value			Percentage of Net Assets
COMMON STOCK: 98.9%
		Consumer Discretionary: 13.1%
	35,121 (1)	Amazon.com, Inc.		$	59,698,676		1.8
	1,158,926	CBS Corp. - Class B			65,154,820		2.0
	434,912	Delphi Technologies PLC			39,850,986		1.2
	1,114,309	Gap, Inc.			36,092,468		1.1
	691,728	Lowe’s Cos, Inc.			66,108,445		2.0
	291,887	McDonald’s Corp.			45,735,774		1.4
	532,305	Ralph Lauren Corp.			66,921,385		2.1
	1,060,427	Tapestry, Inc.			49,532,545		1.5
					429,095,099		13.1
		Consumer Staples: 5.7%
	1,196,212	Mondelez International, Inc.			49,044,692		1.5
	830,064	Procter & Gamble Co.			64,794,796		2.0
	844,860	Walmart, Inc.			72,362,259		2.2
					186,201,747		5.7
		Energy: 7.7%
	1,570,574	Canadian Natural Resources Ltd.			56,650,604		1.7
	1,006,298	Halliburton Co.			45,343,788		1.4
	829,637	Occidental Petroleum Corp.			69,424,024		2.1
	1,155,520	Royal Dutch Shell PLC - Class A ADR			79,996,650		2.5
					251,415,066		7.7
		Financials: 12.6%
	662,104	Discover Financial Services			46,618,743		1.4
	932,850	Hartford Financial Services Group, Inc.			47,696,621		1.5

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Financials (continued)
	678,011	Intercontinental Exchange, Inc.		$	49,867,709		1.5
	850,431	JPMorgan Chase & Co.			88,614,910		2.7
	2,507,289	Keycorp			48,992,427		1.5
	933,332	Lazard Ltd.			45,649,268		1.4
	281,682	PNC Financial Services Group, Inc.			38,055,238		1.2
	334,294	Reinsurance Group of America, Inc.			44,621,563		1.4
					410,116,479		12.6
		Health Care: 13.7%
	1,523,628 (1)	Boston Scientific Corp.			49,822,636		1.5
	668,837	Gilead Sciences, Inc.			47,380,413		1.5
	605,673	Johnson & Johnson			73,492,362		2.3
	1,421,543	Merck & Co., Inc.			86,287,660		2.6
	2,670,256	Pfizer, Inc.			96,876,888		3.0
	374,904	UnitedHealth Group, Inc.			91,978,947		2.8
					445,838,906		13.7
		Industrials: 7.1%
	264,486	Deere & Co.			36,975,143		1.1
	289,046	General Dynamics Corp.			53,881,065		1.7
	393,564	Hubbell, Inc.			41,615,457		1.3
	261,936	Roper Technologies, Inc.			72,270,762		2.2
	235,398 (2)	Other Securities			27,546,274		0.8
					232,288,701		7.1
		Information Technology: 26.8%
	737,892	Activision Blizzard, Inc.			56,315,917		1.7
	257,248 (1)	Adobe Systems, Inc.			62,719,635		1.9
	866,342	Apple, Inc.			160,368,568		4.9
	2,283,506	Cisco Systems, Inc.			98,259,263		3.0
	421,650	Fidelity National Information Services, Inc.			44,707,550		1.4
	660,514	Intel Corp.			32,834,151		1.0
	226,864	Lam Research Corp.			39,213,442		1.2
	1,634,942	Microsoft Corp.			161,221,631		4.9
	384,111	Motorola Solutions, Inc.			44,698,997		1.4
	939,855	NetApp, Inc.			73,806,813		2.3
	539,949	Texas Instruments, Inc.			59,529,377		1.8
	503,895 (1)	Worldpay, Inc.			41,208,533		1.3
					874,883,877		26.8
		Materials: 3.9%
	1,031,068 (3)	BHP Billiton Ltd. ADR			51,563,711		1.6
	734,288	DowDuPont, Inc.			48,404,265		1.5
	422,681	Other Securities			26,417,562		0.8
					126,385,538		3.9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Growth and Income Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Real Estate: 2.2%
	335,497	Crown Castle International Corp.		$	36,173,286		1.1
	358,267	Mid-America Apartment Communities, Inc.			36,066,739		1.1
					72,240,025		2.2
		Telecommunication Services: 1.9%
	1,252,829	Verizon Communications, Inc.			63,029,827		1.9
		Utilities: 4.2%
	708,314	Ameren Corp.			43,100,907		1.3
	1,084,215	Exelon Corp.			46,187,559		1.4
	292,187	NextEra Energy, Inc.			48,803,995		1.5
					138,092,461		4.2
		Total Common Stock (Cost $2,567,324,240)			3,229,587,726		98.9

Principal Amount†			Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: —%
		Utilities: —%
	30,000,000 (4)	Other Securities		—		—
		Total Corporate Bonds/Notes (Cost $—)		—		—
		Total Long-Term Investments (Cost $2,567,324,240)		3,229,587,726		98.9
SHORT-TERM INVESTMENTS: 1.7%
		Securities Lending Collateral(5): 1.6%
	24,895,901	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $24,900,157, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $25,393,819, due 07/25/18-06/15/53)		24,895,901		0.7

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(5) (continued)
	2,659,527	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $2,660,025, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $2,712,718, due 11/15/42-08/ 15/44)		$	2,659,527		0.1
	12,466,809	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $12,468,807, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $12,716,181, due 01/31/20-09/09/49)			12,466,809		0.4
	12,466,809	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $12,469,166, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $12,716,238, due 07/15/19-02/15/48)			12,466,809		0.4
					52,489,046		1.6

Shares			Value		Percentage of Net Assets
		Mutual Funds: 0.1%
	3,927,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $3,927,000)		3,927,000		0.1
		Total Short-Term Investments (Cost $56,416,046)		56,416,046		1.7

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Growth and Income Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares		Value			Percentage of Net Assets
	Total Investments in Securities (Cost $2,623,740,286)		$	3,286,003,772		100.6
	Liabilities in Excess of Other Assets			(19,105,727)		(0.6)
	Net Assets		$	3,266,898,045		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

Unless otherwise indicated, principal amount is shown in USD.

ADR

American Depositary Receipt

(1)

Non-income producing security.

(2)

The grouping contains non-income producing securities.

(3)

Security, or a portion of the security, is on loan.

(4)

The grouping contains Level 3 securities.

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	3,229,587,726		$	—		$	—		$	3,229,587,726
Corporate Bonds/Notes			—			—			—			—
Short-Term Investments			3,927,000			52,489,046			—			56,416,046
Total Investments, at fair value		$	3,233,514,726		$	52,489,046		$	—		$	3,286,003,772

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $2,642,191,348.

Net unrealized appreciation consisted of:

Gross Unrealized Appreciation	$	726,669,697
Gross Unrealized Depreciation		(82,857,273)
Net Unrealized Appreciation	$	643,812,424

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited)

	Investment Type Allocation as of June 30, 2018 (as a percentage of net assets)

	Corporate Bonds/Notes			26.7%
	U.S. Government Agency Obligations			21.2%
	Mutual Funds			18.4%
	Collateralized Mortgage Obligations			14.4%
	Asset-Backed Securities			11.6%
	U.S. Treasury Obligations			6.7%
	Commercial Mortgage-Backed Securities			4.7%
	Foreign Government Bonds			1.4%
	Municipal Bonds			0.1%
	Preferred Stock			0.0%
	Liabilities in Excess of Other Assets*			(5.2)%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: 26.7%
		Basic Materials: 0.5%
	1,800,000 (1)	Braskem Netherlands Finance BV, 4.500%, 01/10/2028		$	1,658,250		0.1
	4,274,000 (1)	Georgia-Pacific LLC, 2.539%, 11/15/2019			4,247,347		0.1
	12,189,000	Other Securities			11,929,527		0.3
					17,835,124		0.5
		Communications: 2.9%
	6,026,000 (2)	Alibaba Group Holding Ltd., 3.600%, 11/28/2024			5,931,572		0.1
	6,920,000	Alibaba Group Holding Ltd, 3.400%, 12/06/2027			6,452,725		0.2
	8,611,000 (1)	AT&T, Inc., 4.300%, 02/15/2030			8,160,081		0.2
	3,343,000 (1)	AT&T, Inc., 5.150%, 11/15/2046			3,158,415		0.1
	5,810,000 (1)	AT&T, Inc., 5.150%, 02/15/2050			5,437,395		0.2
	4,849,000	AT&T, Inc., 4.125%-5.450%, 02/17/2026-03/09/2049			4,527,944		0.1
	12,960,000	Charter Communications Operating LLC/Charter Communications Operating Capital, 3.579%-4.908%, 07/23/2020-07/23/2025			13,027,468		0.3
	4,885,000 (1)	NBCUniversal Enterprise, Inc., 5.250%, 12/31/2199			4,946,063		0.1
	2,630,000 (1)	Tencent Holdings Ltd., 2.985%, 01/19/2023			2,557,909		0.1

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Communications (continued)
	8,656,000	Verizon Communications, Inc., 4.812%, 03/15/2039		$	8,391,349		0.2
	3,030,000 (1)	Verizon Communications, Inc., 4.329%, 09/21/2028			3,009,086		0.1
	4,217,000	Verizon Communications, Inc., 4.150%-4.862%, 03/15/2024-08/21/2046			4,073,961		0.1
	42,929,000	Other Securities			41,413,349		1.1
					111,087,317		2.9
		Consumer, Cyclical: 2.9%
	3,810,000 (1)	BMW US Capital LLC, 3.450%, 04/12/2023			3,771,227		0.1
	634,000 (1)	British Airways 2018-1 Class A Pass Through Trust, 4.125%, 03/20/2033			627,226		0.0
	4,210,000 (1)	Daimler Finance North America LLC, 2.300%, 02/12/2021			4,090,697		0.1
	4,640,000 (1)	Nissan Motor Acceptance Corp., 2.600%, 09/28/2022			4,457,141		0.1
	1,596,055	United Airlines 2013-1 Class B Pass Through Trust, 5.375%, 02/15/2023			1,633,962		0.0
	3,719,206	United Airlines 2016-1 Class AA Pass Through Trust, 3.100%, 01/07/2030			3,532,906		0.1
	980,000	United Airlines 2016-1 Class B Pass Through Trust, 3.650%, 07/07/2027			954,681		0.0
	4,078,281	United Airlines 2016-2 Class AA Pass Through Trust, 2.875%, 04/07/2030			3,787,112		0.1
	1,253,900	United Airlines 2016-2 Class B Pass Through Trust, 3.650%, 04/07/2027			1,208,509		0.0
	2,110,000	United Airlines 2018-1 Class AA Pass Through Trust, 3.500%, 09/01/2031			2,052,256		0.1
	3,410,000 (1)	Volkswagen Group of America Finance LLC, 2.400%, 05/22/2020			3,355,691		0.1
	13,411,000	Walmart, Inc., 2.350%-3.700%, 06/23/2021-06/26/2028			13,334,733		0.4
	3,360,000 (1)	ZF North America Capital, Inc., 4.000%, 04/29/2020			3,385,644		0.1
	66,581,033 (3)	Other Securities			64,428,012		1.7
					110,619,797		2.9

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical: 4.0%
	8,425,000		Anheuser-Busch InBev Finance, Inc., 4.700%-4.900%, 02/01/2036-02/01/2046		$	8,637,667		0.2
	5,183,000		Anheuser-Busch InBev Worldwide, Inc., 4.000%-4.439%, 04/13/2028-10/06/2048			5,115,697		0.2
	3,510,000 (1)		BAT Capital Corp., 3.222%, 08/15/2024			3,327,938		0.1
	3,800,000 (1)		BAT International Finance PLC, 2.750%, 06/15/2020			3,760,170		0.1
	70,532		CVS Pass-Through Trust, 6.943%, 01/10/2030			79,378		0.0
	23,080,000		CVS Health Corp., 3.125%-5.050%, 03/09/2020-03/25/2048			23,005,431		0.6
	3,770,000 (1)		Imperial Brands Finance PLC, 2.950%, 07/21/2020			3,732,827		0.1
	2,113,000 (1)		Imperial Brands Finance PLC, 3.750%, 07/21/2022			2,098,615		0.0
	2,905,000 (1)		Keurig Dr Pepper, Inc., 4.057%, 05/25/2023			2,919,014		0.1
	3,910,000 (1)		Kraft Heinz Foods Co., 4.875%, 02/15/2025			3,989,602		0.1
	95,014,000		Other Securities			93,018,840		2.5
						149,685,179		4.0
			Energy: 3.0%
	11,683,000 (4)		Enterprise Products Operating LLC, 3.700%-5.375%, 02/15/2025-02/15/2078			11,226,485		0.3
	11,337,000		Williams Partners L.P., 3.600%-5.400%, 03/15/2022-03/04/2044			11,372,301		0.3
	90,095,000		Other Securities			89,049,117		2.4
						111,647,903		3.0
			Financial: 8.1%
	22,195,000 (4)		Bank of America Corp., 3.419%-4.250%, 04/21/2025-03/05/2029			21,504,405		0.6
	4,500,000 (1)		BNP Paribas SA, 3.500%, 03/01/2023			4,389,396		0.1
	1,177,000	(1)(4)	BNP Paribas SA, 4.375%, 03/01/2033			1,105,297		0.0

Principal Amount†				Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial (continued)
	18,844,000 (4)		Citigroup, Inc., 2.876%-5.500%, 07/24/2023-07/25/2028		$	18,760,597		0.5
	2,757,000 (1)		Citizens Financial Group, Inc., 4.150%, 09/28/2022			2,777,636		0.1
	2,315,000 (1)		Commerzbank AG, 8.125%, 09/19/2023			2,637,002		0.1
	1,370,000	(1)(4)	Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/Netherlands, 11.000%, 12/31/2199			1,472,750		0.0
	3,150,000 (1)		Credit Agricole SA/London, 2.375%, 07/01/2021			3,048,048		0.1
	6,736,000 (1)		Credit Suisse AG, 6.500%, 08/08/2023			7,180,482		0.2
	5,236,000 (1)		Credit Suisse Group AG, 3.574%, 01/09/2023			5,132,490		0.1
	2,303,000		Credit Suisse Group Funding Guernsey Ltd., 3.450%, 04/16/2021			2,295,682		0.1
	2,950,000 (1)		Federation des Caisses Desjardins du Quebec, 2.250%, 10/30/2020			2,881,583		0.1
	8,040,000		First Tennessee Bank NA, 2.950%, 12/01/2019			8,005,350		0.2
	8,230,000 (4)		Goldman Sachs Group, Inc./The, 2.625%-4.411%, 04/25/2021-04/23/2039			8,041,442		0.2
	9,172,000		Goldman Sachs Group, Inc., 2.600%-6.750%, 04/23/2020-05/22/2045			9,207,373		0.3
	1,272,000 (1)		Guardian Life Insurance Co. of America/The, 4.850%, 01/24/2077			1,242,292		0.0
	723,000 (1)		HSBC Bank PLC, 4.125%, 08/12/2020			736,336		0.0
	10,277,000 (4)		HSBC Holdings PLC, 3.400%-4.583%, 03/08/2021-06/19/2029			10,229,786		0.3
	3,400,000 (1)		ING Bank NV, 2.000%, 11/26/2018			3,391,270		0.1
	3,264,000 (1)		International Lease Finance Corp., 7.125%, 09/01/2018			3,285,429		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial (continued)
	16,944,000 (4)		JPMorgan Chase & Co., 2.550%-4.032%, 10/29/2020-07/24/2048		$	16,260,225		0.4
	7,870,000	(1)(4)	Macquarie Group Ltd, 3.189%, 11/28/2023			7,521,792		0.2
	4,560,000 (1)		Mizuho Financial Group, Inc., 2.632%, 04/12/2021			4,453,774		0.1
	10,500,000		Morgan Stanley, 2.750%-4.000%, 05/19/2022-04/23/2027			10,281,482		0.3
	5,004,000 (1)		Nationwide Building Society, 2.350%, 01/21/2020			4,940,085		0.1
	3,720,000	(1)(4)	Nationwide Building Society, 4.302%, 03/08/2029			3,587,280		0.1
	4,720,000 (1)		New York Life Global Funding, 3.000%, 01/10/2028			4,430,991		0.1
	2,661,000	(1)(4)	Nordea Bank AB, 6.125%, 12/31/2199			2,607,780		0.1
	3,000,000 (1)		Societe Generale SA, 2.625%, 09/16/2020			2,952,225		0.1
	9,405,000	(1)(4)	Standard Chartered PLC, 3.885%, 03/15/2024			9,241,532		0.2
	4,920,000 (1)		Suncorp-Metway Ltd, 2.375%, 11/09/2020			4,803,917		0.1
	1,960,000 (1)		UBS AG/London, 2.450%, 12/01/2020			1,918,383		0.0
	2,470,000		UBS AG, 5.125%, 05/15/2024			2,467,864		0.1
	6,349,000		UBS AG/Stamford CT, 2.350%-7.625%, 03/26/2020-08/17/2022			6,766,164		0.2
	8,273,000		Wells Fargo & Co., 4.100%-4.750%, 08/15/2023-12/07/2046			8,174,119		0.2
	97,421,000		Other Securities			96,101,990		2.6
						303,834,249		8.1
			Industrial: 1.0%
	2,570,000 (1)		SMBC Aviation Capital Finance DAC, 2.650%, 07/15/2021			2,493,473		0.1
	35,275,000		Other Securities			34,304,140		0.9
						36,797,613		1.0
			Technology: 2.1%
	29,546,000		Apple, Inc., 2.000%-3.850%, 11/13/2020-11/13/2047			28,335,265		0.7
	1,918,000 (1)		Dell International LLC/ EMC Corp., 4.420%, 06/15/2021			1,946,522		0.1

Principal Amount†			Value			Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Technology (continued)
	5,155,000 (1)	Dell International LLC/ EMC Corp., 5.450%, 06/15/2023		$	5,396,938		0.1
	3,620,000 (1)	Dell International LLC/ EMC Corp., 6.020%, 06/15/2026			3,811,468		0.1
	10,884,000	Microsoft Corp., 3.700%-4.450%, 11/03/2045-02/06/2047			11,277,244		0.3
	8,109,000	Qualcomm, Inc., 1.850%, 05/20/2019			8,106,327		0.2
	22,408,000	Other Securities			21,752,880		0.6
					80,626,644		2.1
		Utilities: 2.2%
	3,120,000 (1)	American Transmission Systems, Inc., 5.000%, 09/01/2044			3,433,305		0.1
	2,050,000 (1)	Enel Finance International NV, 3.500%, 04/06/2028			1,845,045		0.0
	2,802,000 (1)	Jersey Central Power & Light Co., 4.300%, 01/15/2026			2,838,554		0.1
	75,960,000 (3)	Other Securities			75,306,880		2.0
					83,423,784		2.2
		Total Corporate Bonds/Notes (Cost $1,031,714,785)			1,005,557,610		26.7
COLLATERALIZED MORTGAGE OBLIGATIONS: 14.4%
	6,046,050	Alternative Loan Trust 2005-10CB 1A1, 2.591%, (US0001M + 0.500%), 05/25/2035			5,392,601		0.1
	4,946,722	Alternative Loan Trust 2005-51 3A2A, 2.848%, (12MTA + 1.290%), 11/20/2035			4,794,322		0.1
	2,204,632	Alternative Loan Trust 2005-65CB 2A4, 5.500%, 12/25/2035			2,063,021		0.1
	2,752,939	Alternative Loan Trust 2005-6CB 1A3, 5.250%, 04/25/2035			2,649,629		0.1
	675,700 (5)	Alternative Loan Trust 2005-J3 2A2, 2.909%, (-1.000*US0001M + 5.000%), 05/25/2035			46,748		0.0
	1,751,785	Alternative Loan Trust 2006-13T1 A9, 6.000%, 05/25/2036			1,398,006		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	3,969,987	Alternative Loan Trust 2006-HY11 A1, 2.211%, (US0001M + 0.120%), 06/25/2036		$	3,722,590		0.1
	2,561,271	Alternative Loan Trust 2007-23CB A3, 2.591%, (US0001M + 0.500%), 09/25/2037			1,764,479		0.1
	227,642	Banc of America Funding 2007 8 Trust 4A1, 6.000%, 08/25/2037			211,494		0.0
	1,215,518 (4)	Bear Stearns ALT-A Trust 2005-10 22A1, 3.907%, 01/25/2036			1,188,540		0.0
	602,208 (4)	Bear Stearns ALT-A Trust 2005-4 23A1, 3.781%, 05/25/2035			608,502		0.0
	1,731,693 (4)	Bear Stearns ALT-A Trust 2006-6 31A1, 3.669%, 11/25/2036			1,619,590		0.1
	1,461,314 (4)	Bear Stearns ALT-A Trust 2006-6 32A1, 3.590%, 11/25/2036			1,245,706		0.0
	18,305 (4)	Bear Stearns ARM Trust 2005-12 13A1, 3.997%, 02/25/2036			17,254		0.0
	4,270,871	Bear Stearns Mortgage Funding Trust 2006-AR5 2A1, 2.281%, (US0001M + 0.190%), 01/25/2037			4,051,916		0.1
	206,761 (4)	Bear Stearns Structured Products, Inc. Trust 2007-R6 1A1, 3.664%, 01/26/2036			182,443		0.0
	1,141,447 (1)	Bellemeade Re Ltd. 2015-1A M2, 6.391%, (US0001M + 4.300%), 07/25/2025			1,157,641		0.0
	26,451	CHL Mortgage Pass-Through Trust 2005-2 2A3, 2.771%, (US0001M + 0.680%), 03/25/2035			24,590		0.0
	257,281	Citicorp Mortgage Securities Trust Series 2006-4 2A1, 5.500%, 08/25/2036			262,890		0.0
	1,250,020	Citicorp Mortgage Securities Trust Series 2007-1 1A1, 6.000%, 01/25/2037			1,229,320		0.0

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	170,080		Citigroup Mortgage Loan Trust 2006-AR1 1A1, 4.280%, (H15T1Y + 2.400%), 10/25/2035		$	172,212		0.0
	1,988,023 (4)		Citigroup Mortgage Loan Trust 2007-10 22AA, 3.712%, 09/25/2037			1,925,845		0.1
	1,299,663	(1)(4)	Citigroup Mortgage Loan Trust 2015-A B2, 4.500%, 06/25/2058			1,340,949		0.0
	106,725 (4)		Citigroup Mortgage Loan Trust, Inc. 2005-3 2A2A, 3.841%, 08/25/2035			107,529		0.0
	3,459,329		Citigroup Mortgage Loan Trust, Inc. 2005-8 3A1, 5.500%, 09/25/2035			3,507,394		0.1
	419,662		CitiMortgage Alternative Loan Trust Series 2007-A2 1A5, 6.000%, 02/25/2037			408,602		0.0
	1,166,557		Countrywide Alternative Loan Trust 2005-53T2 2A6, 2.591%, (US0001M + 0.500%), 11/25/2035			711,460		0.0
	6,400,000		Countrywide Asset-Backed Certificates 2005-IM1 M1, 2.811%, (US0001M + 0.720%), 11/25/2035			6,315,063		0.2
	875,360		DSLA Mortgage Loan Trust 2005-AR4 2A1B, 2.365%, (US0001M + 0.280%), 08/19/2045			762,619		0.0
	1,000,000		Fannie Mae 2011-128 KB, 4.500%, 12/25/2041			1,062,314		0.0
	11,303,180		Fannie Mae 2011-99 CZ, 4.500%, 10/25/2041			12,176,164		0.3
	2,995,238		Fannie Mae 2012-110 CA, 3.000%, 10/25/2042			2,927,082		0.1
	36,145,239 (5)		Fannie Mae 2016-82 SD, 3.959%, (-1.000*US0001M + 6.050%), 11/25/2046			4,987,287		0.1
	8,585,344		Fannie Mae 2016-88 EA, 3.500%, 01/25/2045			8,598,236		0.2

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	4,322,422	Fannie Mae Connecticut Avenue Securities 2014-CO3 1M2, 5.091%, (US0001M + 3.000%), 07/25/2024		$	4,634,692		0.1
	3,600,000	Fannie Mae Connecticut Avenue Securities 2017-C02 2M2, 5.741%, (US0001M + 3.650%), 09/25/2029			3,928,663		0.1
	1,900,000	Fannie Mae Connecticut Avenue Securities 2017-C04 2M2, 4.941%, (US0001M + 2.850%), 11/25/2029			1,979,738		0.1
	7,550,000	Fannie Mae Connecticut Avenue Securities 2017-C05 1M2, 4.291%, (US0001M + 2.200%), 01/25/2030			7,689,163		0.2
	6,000,000	Fannie Mae Connecticut Avenue Securities 2017-C07 1M2, 4.491%, (US0001M + 2.400%), 05/25/2030			6,130,428		0.2
	8,000,000	Fannie Mae Connecticut Avenue Securities 2017-C07 2M2, 4.591%, (US0001M + 2.500%), 05/25/2030			8,167,301		0.2
	2,200,000	Fannie Mae Connecticut Avenue Securities 2018-C02 2M2, 4.291%, (US0001M + 2.200%), 08/25/2030			2,194,183		0.1
	6,400,000	Fannie Mae Connecticut Avenue Securities 2018-CO1 1M2, 4.341%, (US0001M + 2.250%), 07/25/2030			6,448,589		0.2
	7,900 (5)	Fannie Mae Interest Strip Series 343 22, 4.000%, 11/25/2018			14		0.0
	693,090 (5)	Fannie Mae Interest Strip Series 418 10, 4.000%, 08/25/2043			135,486		0.0
	533,300 (5)	Fannie Mae Interest Strip Series 418 15, 3.500%, 08/25/2043			90,517		0.0
	561	Fannie Mae REMIC Trust 1989-4 D, 10.000%, 02/25/2019			563		0.0
	15,284	Fannie Mae REMIC Trust 1994-77 FB, 3.591%, (US0001M + 1.500%), 04/25/2024			15,610		0.0

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	479,204	Fannie Mae REMIC Trust 1999-33 Z, 6.000%, 07/25/2029		$	513,017		0.0
	384,349	Fannie Mae REMIC Trust 2001-15 Z, 6.000%, 04/25/2031			411,677		0.0
	41,170	Fannie Mae REMIC Trust 2002-21 FC, 2.991%, (US0001M + 0.900%), 04/25/2032			42,074		0.0
	1,099,873 (5)	Fannie Mae REMIC Trust 2003-74 IO, 6.000%, 08/25/2033			257,572		0.0
	23,751	Fannie Mae REMIC Trust 2004-10 SC, 20.236%, (-4.000*US0001M + 28.600%), 02/25/2034			25,317		0.0
	123,270	Fannie Mae REMIC Trust 2004-11 A, 2.211%, (US0001M + 0.120%), 03/25/2034			122,125		0.0
	626,218	Fannie Mae REMIC Trust 2005-120 ZU, 5.500%, 01/25/2036			681,604		0.0
	77,337	Fannie Mae REMIC Trust 2005-57 CD, 17.283%, (-3.750*US0001M + 25.125%), 01/25/2035			82,355		0.0
	200,855	Fannie Mae REMIC Trust 2005-74 DK, 15.636%, (-4.000*US0001M + 24.000%), 07/25/2035			281,246		0.0
	6,663,630 (5)	Fannie Mae REMIC Trust 2005-92 SC, 4.589%, (-1.000*US0001M + 6.680%), 10/25/2035			988,143		0.0
	477,725	Fannie Mae REMIC Trust 2006-103 EZ, 6.250%, 10/25/2036			510,095		0.0
	1,351,679	Fannie Mae REMIC Trust 2006-104 ES, 22.994%, (-5.000*US0001M + 33.450%), 11/25/2036			2,210,293		0.1
	8,461,155 (5)	Fannie Mae REMIC Trust 2006-12 SD, 4.659%, (-1.000*US0001M + 6.750%), 10/25/2035			1,049,318		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	3,476,809 (5)	Fannie Mae REMIC Trust 2006-123 UI, 4.649%, (-1.000*US0001M + 6.740%), 01/25/2037		$	581,980		0.0
	957,828 (5)	Fannie Mae REMIC Trust 2006-72 HS, 4.609%, (-1.000*US0001M + 6.700%), 08/25/2026			107,809		0.0
	297,053	Fannie Mae REMIC Trust 2007-73 A1, 2.151%, (US0001M + 0.060%), 07/25/2037			292,086		0.0
	678,684	Fannie Mae REMIC Trust 2008-20 SP, 10.272%, (-2.500*US0001M + 15.500%), 03/25/2038			799,654		0.0
	3,044,165	Fannie Mae REMIC Trust 2009-19 PW, 4.500%, 10/25/2036			3,154,289		0.1
	10,588,883 (5)	Fannie Mae REMIC Trust 2010-102 SB, 4.509%, (-1.000*US0001M + 6.600%), 09/25/2040			1,674,453		0.1
	3,563,782 (5)	Fannie Mae REMIC Trust 2010-116 SE, 4.509%, (-1.000*US0001M + 6.600%), 10/25/2040			528,914		0.0
	10,647,327 (5)	Fannie Mae REMIC Trust 2010-123 SL, 3.979%, (-1.000*US0001M + 6.070%), 11/25/2040			1,364,692		0.0
	5,050,000	Fannie Mae REMIC Trust 2010-130 CX, 4.500%, 09/25/2039			5,270,138		0.1
	5,445,946 (5)	Fannie Mae REMIC Trust 2010-55 AS, 4.329%, (-1.000*US0001M + 6.420%), 06/25/2040			778,304		0.0
	8,159,907	Fannie Mae REMIC Trust 2010-59 PC, 5.000%, 06/25/2040			8,623,243		0.2
	1,824,747	Fannie Mae REMIC Trust 2010-60 HJ, 5.500%, 05/25/2040			1,936,809		0.1
	13,665,519 (5)	Fannie Mae REMIC Trust 2011-3 AI, 5.000%, 01/25/2041			1,260,330		0.0
	2,424,505 (5)	Fannie Mae REMIC Trust 2012-10 US, 4.359%, (-1.000*US0001M + 6.450%), 02/25/2042			315,405		0.0

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	1,772,119	Fannie Mae REMIC Trust 2012-103 DA, 3.500%, 10/25/2041		$	1,773,990		0.1
	13,899,839 (5)	Fannie Mae REMIC Trust 2012-113 SG, 4.009%, (-1.000*US0001M + 6.100%), 10/25/2042			2,314,319		0.1
	10,413,907 (5)	Fannie Mae REMIC Trust 2012-122 SB, 4.059%, (-1.000*US0001M + 6.150%), 11/25/2042			1,748,583		0.1
	4,958,128 (5)	Fannie Mae REMIC Trust 2012-128 DI, 3.000%, 10/25/2032			462,645		0.0
	3,826,226	Fannie Mae REMIC Trust 2012-131 BS, 3.021%, (-1.200*US0001M + 5.400%), 12/25/2042			3,010,773		0.1
	16,102,443 (5)	Fannie Mae REMIC Trust 2012-137 SN, 4.009%, (-1.000*US0001M + 6.100%), 12/25/2042			2,495,130		0.1
	7,163,158 (5)	Fannie Mae REMIC Trust 2012-15 SP, 4.529%, (-1.000*US0001M + 6.620%), 06/25/2040			778,177		0.0
	4,447,648 (5)	Fannie Mae REMIC Trust 2012-58 PI, 5.000%, 04/25/2042			880,520		0.0
	393,822	Fannie Mae REMIC Trust 2013-44 ZG, 3.500%, 03/25/2042			396,846		0.0
	12,847,643 (5)	Fannie Mae REMIC Trust 2013-60 DS, 4.109%, (-1.000*US0001M + 6.200%), 06/25/2033			1,895,503		0.1
	10,202,471 (5)	Fannie Mae REMIC Trust 2013-9 DS, 4.059%, (-1.000*US0001M + 6.150%), 02/25/2043			1,853,190		0.1
	364,633 (5)	Fannie Mae REMIC Trust 2013-9 SA, 4.059%, (-1.000*US0001M + 6.150%), 03/25/2042			41,212		0.0
	4,622,994 (5)	Fannie Mae REMIC Trust 2014-81 JI, 4.000%, 09/25/2041			527,610		0.0
	31,509,117 (5)	Fannie Mae REMIC Trust 2015-9 IO, 5.500%, 03/25/2045			7,510,762		0.2

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	5,006,264 (5)		Fannie Mae REMICS 2005-66 SY, 4.609%, (-1.000*US0001M + 6.700%), 07/25/2035		$	772,677		0.0
	9,569,803 (5)		Fannie Mae REMICS 2006-120 QD, 2.609%, (-1.000*US0001M + 4.700%), 10/25/2036			673,784		0.0
	4,231,527 (5)		Fannie Mae REMICS 2006-59 XS, 5.109%, (-1.000*US0001M + 7.200%), 07/25/2036			632,075		0.0
	4,564,551 (5)		Fannie Mae REMICS 2007-53 SX, 4.009%, (-1.000*US0001M + 6.100%), 06/25/2037			635,168		0.0
	6,997,873 (5)		Fannie Mae REMICS 2011-149 ES, 3.909%, (-1.000*US0001M + 6.000%), 07/25/2041			710,924		0.0
	12,727,753 (5)		First Horizon Alternative Mortgage Securities Trust 2005-FA10 1A2 1A2, 2.609%, (-1.000*US0001M + 4.700%), 01/25/2036			1,099,615		0.0
	1,836,670		First Horizon Alternative Mortgage Securities Trust 2006-FA7 A5, 2.391%, (US0001M + 0.300%), 12/25/2036			1,155,026		0.1
	1,836,670 (5)		First Horizon Alternative Mortgage Securities Trust 2006-FA7 A9, 4.609%, (-1.000*US0001M + 6.700%), 12/25/2036			421,276		0.0
	1,489,711	(1)(4)	Flagstar Mortgage Trust 2018-1 B1, 4.062%, 03/25/ 2048			1,484,762		0.0
	1,589,025	(1)(4)	Flagstar Mortgage Trust 2018-1 B2, 4.062%, 03/25/ 2048			1,578,053		0.0
	2,085,596	(1)(4)	Flagstar Mortgage Trust 2018-1 B3, 4.062%, 03/25/ 2048			2,027,138		0.1
	6,965,040 (5)		Freddie Mac 2815 GS, 3.927%, (-1.000*US0001M + 6.000%), 03/15/2034			898,787		0.0
	21,523,857		Freddie Mac 326 350, 3.500%, 03/15/2044			21,465,884		0.6

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	10,275	Freddie Mac REMIC Trust 1125 Z, 8.250%, 08/15/2021		$	10,883		0.0
	329,994	Freddie Mac REMIC Trust 2110 PG, 6.000%, 01/15/2029			357,040		0.0
	323,901	Freddie Mac REMIC Trust 2114 ZM, 6.000%, 01/15/2029			350,157		0.0
	14,784	Freddie Mac REMIC Trust 2411 FJ, 2.423%, (US0001M + 0.350%), 12/15/2029			14,810		0.0
	212,539	Freddie Mac REMIC Trust 2460 ZM, 6.000%, 06/15/2032			233,474		0.0
	481,873	Freddie Mac REMIC Trust 2472 ZC, 6.000%, 07/15/2032			531,052		0.0
	571,431	Freddie Mac REMIC Trust 2528 KM, 5.500%, 11/15/2022			597,693		0.0
	410,533	Freddie Mac REMIC Trust 2541 NE, 5.500%, 12/15/2032			442,904		0.0
	132	Freddie Mac REMIC Trust 2559 PB, 5.500%, 08/15/2030			134		0.0
	438,593	Freddie Mac REMIC Trust 2576 KZ, 5.500%, 02/15/2033			475,431		0.0
	495,972 (5)	Freddie Mac REMIC Trust 2594 IY, 6.000%, 04/15/2033			115,460		0.0
	562,220	Freddie Mac REMIC Trust 2861 Z, 5.500%, 09/15/2034			609,170		0.0
	1,268,990	Freddie Mac REMIC Trust 2867 MZ, 5.000%, 10/15/2034			1,335,409		0.0
	1,081,089	Freddie Mac REMIC Trust 2930 ZL, 5.000%, 02/15/2035			1,148,060		0.0
	1,295,261	Freddie Mac REMIC Trust 2931 ZY, 5.000%, 02/15/2035			1,376,758		0.0
	7,505,234 (5)	Freddie Mac REMIC Trust 3045 DI, 4.657%, (-1.000*US0001M + 6.730%), 10/15/2035			1,073,055		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	74,849		Freddie Mac REMIC Trust 3049 NA, 5.000%, 02/15/2035		$	75,235		0.0
	4,359,324 (5)		Freddie Mac REMIC Trust 3064 SP, 4.527%, (-1.000*US0001M + 6.600%), 03/15/2035			356,088		0.0
	606,898		Freddie Mac REMIC Trust 3065 DC, 13.640%, (-3.000*US0001M + 19.860%), 03/15/2035			788,231		0.0
	1,273,673 (5)		Freddie Mac REMIC Trust 3102 IS, 16.965%, (-3.667*US0001M + 24.567%), 01/15/2036			508,827		0.0
	4,386,177		Freddie Mac REMIC Trust 3117 ZA, 5.500%, 02/15/2036			4,756,996		0.1
	2,385,102 (5)		Freddie Mac REMIC Trust 3170 SA, 4.527%, (-1.000*US0001M + 6.600%), 09/15/2033			337,190		0.0
	1,655,791 (5)		Freddie Mac REMIC Trust 3171 PS, 4.412%, (-1.000*US0001M + 6.485%), 06/15/2036			193,964		0.0
	2,046,326		Freddie Mac REMIC Trust 3351 ZC, 5.500%, 07/15/2037			2,229,305		0.1
	505,603	(4)(5)	Freddie Mac REMIC Trust 3524 LA, 5.368%, 03/15/2033			533,809		0.0
	151,846		Freddie Mac REMIC Trust 3556 NT, 5.173%, (US0001M + 0.000%), 03/15/2038			156,075		0.0
	8,650,938 (5)		Freddie Mac REMIC Trust 3589 SB, 4.127%, (-1.000*US0001M + 6.200%), 10/15/2039			1,168,527		0.0
	1,663,773 (5)		Freddie Mac REMIC Trust 3632 IP, 5.000%, 02/15/2040			287,189		0.0
	9,222,480		Freddie Mac REMIC Trust 3639 ZN, 5.500%, 12/15/2034			9,978,745		0.3
	3,294,008		Freddie Mac REMIC Trust 3662 ZB, 5.500%, 08/15/2036			3,576,505		0.1
	25,782 (5)		Freddie Mac REMIC Trust 3668 EI, 5.500%, 12/15/2018			152		0.0

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	1,201,971 (5)	Freddie Mac REMIC Trust 3710 SL, 3.927%, (-1.000*US0001M + 6.000%), 05/15/2036		$	48,127		0.0
	1,723,915	Freddie Mac REMIC Trust 3724 CM, 5.500%, 06/15/2037			1,864,415		0.1
	2,143,966 (5)	Freddie Mac REMIC Trust 3752 WS, 4.527%, (-1.000*US0001M + 6.600%), 12/15/2039			126,845		0.0
	1,612,858	Freddie Mac REMIC Trust 3819 ZY, 6.000%, 10/15/2037			1,707,191		0.1
	5,000,000 (5)	Freddie Mac REMIC Trust 3820 BI, 4.000%, 11/15/2038			748,699		0.0
	2,258,467	Freddie Mac REMIC Trust 3829 VZ, 4.000%, 03/15/2041			2,344,815		0.1
	7,682,158 (5)	Freddie Mac REMIC Trust 3856 KS, 4.477%, (-1.000*US0001M + 6.550%), 05/15/2041			1,149,040		0.0
	1,523,000	Freddie Mac REMIC Trust 3898 KD, 4.500%, 07/15/2041			1,585,233		0.1
	3,011,510 (5)	Freddie Mac REMIC Trust 3925 SD, 3.977%, (-1.000*US0001M + 6.050%), 07/15/2040			330,775		0.0
	14,867,794 (5)	Freddie Mac REMIC Trust 3925 SL, 3.977%, (-1.000*US0001M + 6.050%), 01/15/2041			1,655,065		0.1
	5,685,999 (5)	Freddie Mac REMIC Trust 3936 GS, 4.627%, (-1.000*US0001M + 6.700%), 11/15/2025			346,077		0.0
	17,489,771 (5)	Freddie Mac REMIC Trust 3951 SN, 4.477%, (-1.000*US0001M + 6.550%), 11/15/2041			3,072,395		0.1
	7,192,018 (5)	Freddie Mac REMIC Trust 3984 NS, 4.527%, (-1.000*US0001M + 6.600%), 01/15/2040			631,589		0.0
	1,399,945	Freddie Mac REMIC Trust 4000 PA, 4.500%, 01/15/2042			1,469,235		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	2,749,352	Freddie Mac REMIC Trust 4020 BY, 6.500%, 03/15/2042		$	3,196,946		0.1
	2,810,257 (5)	Freddie Mac REMIC Trust 4027 QI, 4.500%, 12/15/2040			393,599		0.0
	6,765,360 (5)	Freddie Mac REMIC Trust 4094 YS, 4.627%, (-1.000*US0001M + 6.700%), 04/15/2040			681,538		0.0
	13,365,752 (5)	Freddie Mac REMIC Trust 4102 MS, 4.527%, (-1.000*US0001M + 6.600%), 09/15/2042			2,474,843		0.1
	1,204,060 (5)	Freddie Mac REMIC Trust 4194 GI, 4.000%, 04/15/2043			208,508		0.0
	5,291,861	Freddie Mac REMIC Trust 4203 BN, 3.000%, 04/15/2033			5,158,036		0.1
	25,303,485	Freddie Mac REMIC Trust 4246 ZX, 4.500%, 04/15/2041			27,206,105		0.7
	12,489,958 (5)	Freddie Mac REMIC Trust 4313 SD, 4.077%, (-1.000*US0001M + 6.150%), 03/15/2044			1,650,342		0.1
	19,183,923 (5)	Freddie Mac REMIC Trust 4313 SE, 4.077%, (-1.000*US0001M + 6.150%), 03/15/2044			2,549,116		0.1
	3,918,853 (5)	Freddie Mac REMIC Trust 4323 IP, 4.500%, 08/15/2042			578,451		0.0
	2,095,001 (5)	Freddie Mac REMIC Trust 4332 PI, 5.000%, 12/15/2043			417,521		0.0
	6,860,239	Freddie Mac REMIC Trust 4335 ZX, 4.250%, 05/15/2044			7,119,347		0.2
	8,293,897 (5)	Freddie Mac REMIC Trust 4346 ST, 4.127%, (-1.000*US0001M + 6.200%), 07/15/2039			909,893		0.0
	10,600,454	Freddie Mac REMIC Trust 435 XZ, 4.250%, 05/15/2044			11,026,308		0.3
	7,001,809 (5)	Freddie Mac REMIC Trust 4386 LS, 4.027%, (-1.000*US0001M + 6.100%), 09/15/2044			1,095,649		0.0

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	7,820,663	Freddie Mac Series 4348 ZX, 4.250%, 06/15/2044		$	7,994,064		0.2
	13,472,387 (5)	Freddie Mac Strips Series 311 S1, 3.877%, (-1.000*US0001M + 5.950%), 08/15/2043			2,250,752		0.1
	2,800,000	Freddie Mac Structured Agency Credit Risk Debt Notes 2015-DNA3 M3, 6.791%, (US0001M + 4.700%), 04/25/2028			3,321,340		0.1
	5,600,000	Freddie Mac Structured Agency Credit Risk Debt Notes 2017-DNA2 M2, 5.541%, (US0001M + 3.450%), 10/25/2029			6,128,536		0.2
	7,250,000	Freddie Mac Structured Agency Credit Risk Debt Notes 2017-DNA3 M2, 4.591%, (US0001M + 2.500%), 03/25/2030			7,477,229		0.2
	6,200,000	Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA2 M2, 4.741%, (US0001M + 2.650%), 12/25/2029			6,398,269		0.2
	7,000,000	Freddie Mac Structured Agency Credit Risk Debt Notes 2017-HQA3 M2, 4.441%, (US0001M + 2.350%), 04/25/2030			7,164,829		0.2
	6,000,000	Freddie Mac Structured Agency Credit Risk Debt Notes 2018-DNA1 M2, 3.891%, (US0001M + 1.800%), 07/25/2030			5,907,614		0.2
	1,300,000	Freddie Mac Structured Agency Credit Risk Debt Notes 2018-HQA1 M2, 4.391%, (US0001M + 2.300%), 09/25/2030			1,297,493		0.0
	344,313	Freddie Mac Structured Pass Through Certificates T-54 2A, 6.500%, 02/25/2043			389,700		0.0
	578,595	Freddie Mac Structured Pass Through Certificates T-62 1A1, 2.664%, (12MTA + 1.200%), 10/25/2044			578,422		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	80,549	Freddie Mac-Ginnie Mae Series 27 FC, 3.375%, (PRIME + (1.375)%), 03/25/2024		$	81,965		0.0
	521,160	Ginnie Mae 2013-69 KA, 1.250%, 08/20/2042			462,003		0.0
	91,450	Ginnie Mae Series 2002-21 FV, 2.485%, (US0001M + 0.400%), 03/16/2032			91,958		0.0
	1,279,971 (5)	Ginnie Mae Series 2005-7 AH, 4.685%, (-1.000*US0001M + 6.770%), 02/16/2035			177,888		0.0
	555,533 (5)	Ginnie Mae Series 2006-17 WI, 4.916%, (-1.000*US0001M + 7.000%), 04/20/2036			3,703		0.0
	171,627	Ginnie Mae Series 2007-37 S, 17.655%, (-3.667*US0001M + 25.300%), 04/16/2037			192,796		0.0
	552,180	Ginnie Mae Series 2007-8 SP, 15.292%, (-3.242*US0001M + 22.048%), 03/20/2037			747,166		0.0
	3,470,479 (5)	Ginnie Mae Series 2008-35 SN, 4.316%, (-1.000*US0001M + 6.400%), 04/20/2038			430,933		0.0
	1,833,081 (5)	Ginnie Mae Series 2008-40 PS, 4.415%, (-1.000*US0001M + 6.500%), 05/16/2038			256,423		0.0
	13,460,398 (5)	Ginnie Mae Series 2009-106 SU, 4.116%, (-1.000*US0001M + 6.200%), 05/20/2037			1,865,105		0.1
	4,422,687 (5)	Ginnie Mae Series 2009-25 KS, 4.116%, (-1.000*US0001M + 6.200%), 04/20/2039			567,156		0.0
	2,272,956	Ginnie Mae Series 2009-29 PB, 4.750%, 05/20/2039			2,396,452		0.1
	2,863,046	Ginnie Mae Series 2009-31 ZL, 4.500%, 05/20/2039			3,032,671		0.1
	1,691,647 (5)	Ginnie Mae Series 2009-33 SN, 4.216%, (-1.000*US0001M + 6.300%), 05/20/2039			79,172		0.0
	10,881,600	Ginnie Mae Series 2009-33 ZB, 6.000%, 05/20/2039			12,491,244		0.3

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	1,497,977 (5)	Ginnie Mae Series 2009-43 HS, 4.116%, (-1.000*US0001M + 6.200%), 06/20/2038		$	69,866		0.0
	3,684,124 (5)	Ginnie Mae Series 2010-106 IP, 5.000%, 03/20/2040			508,170		0.0
	3,128,298 (5)	Ginnie Mae Series 2010-116 NS, 4.565%, (-1.000*US0001M + 6.650%), 09/16/2040			411,195		0.0
	8,203,425 (5)	Ginnie Mae Series 2010-116 SK, 4.536%, (-1.000*US0001M + 6.620%), 08/20/2040			1,237,279		0.0
	15,064,830 (5)	Ginnie Mae Series 2010-149 HS, 4.015%, (-1.000*US0001M + 6.100%), 05/16/2040			1,302,130		0.0
	5,205,063 (5)	Ginnie Mae Series 2010-4 SP, 4.415%, (-1.000*US0001M + 6.500%), 01/16/2039			530,610		0.0
	5,273,693	Ginnie Mae Series 2010-59 ZA, 4.500%, 05/20/2040			5,561,728		0.2
	3,215,887 (5)	Ginnie Mae Series 2010-6 IA, 5.000%, 11/20/2039			431,526		0.0
	3,410,716 (5)	Ginnie Mae Series 2010-68 MS, 3.766%, (-1.000*US0001M + 5.850%), 06/20/2040			449,566		0.0
	6,339,386 (5)	Ginnie Mae Series 2010-9 JI, 5.000%, 01/20/2040			1,532,039		0.0
	5,119,804 (5)	Ginnie Mae Series 2011-116 BI, 4.000%, 08/16/2026			480,338		0.0
	1,466,820 (5)	Ginnie Mae Series 2011-140 CI, 5.000%, 10/20/2040			194,432		0.0
	96,065	Ginnie Mae Series 2011-169 BC, 7.000%, 05/16/2032			104,607		0.0
	6,681,168 (5)	Ginnie Mae Series 2011-80 KS, 4.586%, (-1.000*US0001M + 6.670%), 06/20/2041			1,083,526		0.0
	1,588,652 (5)	Ginnie Mae Series 2012-40 NI, 4.500%, 05/20/2040			174,483		0.0
	213,149	Ginnie Mae Series 2012-43 MA, 4.000%, 10/20/2041			214,920		0.0
	17,992,291 (5)	Ginnie Mae Series 2013-167 PI, 5.500%, 11/20/2043			3,640,747		0.1
	14,170,716 (5)	Ginnie Mae Series 2013-184 JI, 5.500%, 12/16/2043			3,226,798		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	12,488,377 (5)	Ginnie Mae Series 2014-3 SU, 3.966%, (-1.000*US0001M + 6.050%), 07/20/2039		$	1,675,502		0.1
	1,279,618	Ginnie Mae Series 2014-43 Z, 4.000%, 03/20/2044			1,339,752		0.0
	15,249,531 (5)	Ginnie Mae Series 2014-55 MS, 4.115%, (-1.000*US0001M + 6.200%), 04/16/2044			2,143,001		0.1
	18,083,745 (5)	Ginnie Mae Series 2014-56 SP, 4.115%, (-1.000*US0001M + 6.200%), 12/16/2039			2,280,018		0.1
	13,398,957 (5)	Ginnie Mae Series 2014-58 CS, 3.515%, (-1.000*US0001M + 5.600%), 04/16/2044			1,553,363		0.1
	16,735,711 (5)	Ginnie Mae Series 2014-79 BI, 6.000%, 05/16/2044			4,143,675		0.1
	6,515,768 (5)	Ginnie Mae Series 2014-99 S, 3.516%, (-1.000*US0001M + 5.600%), 06/20/2044			900,088		0.0
	15,653,148 (5)	Ginnie Mae 2007-35 KY, 4.365%, (-1.000*US0001M + 6.450%), 06/16/2037			2,254,027		0.1
	90,415	HarborView Mortgage Loan Trust 2005-2 2A1A, 2.525%, (US0001M + 0.440%), 05/19/2035			87,414		0.0
	401,846	HomeBanc Mortgage Trust 2004-1 2A, 2.951%, (US0001M + 0.860%), 08/25/2029			386,754		0.0
	3,000,000	HomeBanc Mortgage Trust 2005-4 M1, 2.561%, (US0001M + 0.470%), 10/25/2035			2,929,751		0.1
	3,915,697	IndyMac INDX Mortgage Loan Trust 2006-AR2 1A1B, 2.301%, (US0001M + 0.210%), 04/25/2046			3,650,610		0.1
	3,215,099	IndyMac INDX Mortgage Loan Trust 2006-AR2 2A1, 2.301%, (US0001M + 0.210%), 02/25/2046			2,728,733		0.1
	19,386 (4)	JP Morgan Mortgage Trust 2005-A1 6T1, 3.977%, 02/25/2035			19,348		0.0

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	190,695 (4)		JP Morgan Mortgage Trust 2007-A1 5A5, 3.693%, 07/25/2035		$	197,891		0.0
	4,574,603	(1)(4)	JP Morgan Mortgage Trust 2017-4 B1, 3.973%, 11/25/2048			4,494,567		0.1
	1,678,754	(1)(4)	JP Morgan Mortgage Trust 2017-4 B2, 3.973%, 11/25/2048			1,628,621		0.0
	1,089,486	(1)(4)	JP Morgan Mortgage Trust 2017-6 B3, 3.854%, 12/25/2048			1,028,158		0.0
	1,685,859	(1)(4)	JP Morgan Mortgage Trust 2018-1 B1, 3.770%, 06/25/2048			1,651,577		0.1
	1,685,859	(1)(4)	JP Morgan Mortgage Trust 2018-1 B2, 3.770%, 06/25/2048			1,639,607		0.1
	2,082,532	(1)(4)	JP Morgan Mortgage Trust 2018-1 B3, 3.770%, 06/25/2048			1,981,923		0.1
	1,492,823	(1)(4)	JP Morgan Mortgage Trust 2018-3 B1, 3.785%, 09/25/2048			1,443,026		0.0
	1,342,714	(1)(4)	JP Morgan Mortgage Trust 2018-4 B1, 3.805%, 10/25/2048			1,304,257		0.0
	9,869,433 (5)		Lehman Mortgage Trust 2006-9 2A5, 4.529%, (-1.000*US0001M + 6.620%), 01/25/2037			1,867,489		0.0
	2,679,376		Lehman XS Trust Series 2005-5N 1A2, 2.451%, (US0001M + 0.360%), 11/25/2035			2,385,026		0.1
	21,052		Merrill Lynch Mortgage Investors Trust Series 2005-2 3A, 2.983%, (US0001M + 1.000%), 10/25/2035			20,254		0.0
	1,108,332		Merrill Lynch Mortgage Investors Trust Series 2005-A6 2A3, 2.471%, (US0001M + 0.380%), 08/25/2035			1,111,962		0.0
	26,948		Merrill Lynch Mortgage Investors Trust Series MLCC 2005-3 4A, 2.341%, (US0001M + 0.250%), 11/25/2035			26,223		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	43,864		Merrill Lynch Mortgage Investors Trust Series MLCC 2005-3 5A, 2.341%, (US0001M + 0.250%), 11/25/2035		$	41,453		0.0
	2,000,000		Morgan Stanley Mortgage Loan Trust 2005-5AR 1B1, 3.291%, (US0001M + 1.200%), 09/25/2035			1,917,456		0.1
	1,771,078		Morgan Stanley Mortgage Loan Trust 2007-13 6A1, 6.000%, 10/25/2037			1,571,808		0.0
	1,783,187	(1)(4)	New Residential Mortgage Loan Trust 2017-3A B2, 4.750%, 04/25/2057			1,853,544		0.1
	24,964	(1)(4)	Nomura Asset Acceptance Corp. Alternative Loan Trust Series 2001-R1A A, 7.000%, 02/19/2030			25,157		0.0
	1,969,823 (1)		RBSSP Resecuritization Trust 2011-3 2A1, 2.210%, (US0001M + 0.250%), 02/26/2037			1,964,169		0.1
	71,449		Sequoia Mortgage Trust 2003-4 2A1, 2.434%, (US0001M + 0.350%), 07/20/2033			69,204		0.0
	83,585 (4)		Sequoia Mortgage Trust 2005-4 2A1, 3.764%, 04/20/2035			87,463		0.0
	1,405,271	(1)(4)	Sequoia Mortgage Trust 2014-3 B3, 3.932%, 10/25/ 2044			1,406,089		0.1
	1,378,032	(1)(4)	Sequoia Mortgage Trust 2014-4 B3, 3.864%, 11/25/ 2044			1,373,202		0.0
	1,200,333	(1)(4)	Sequoia Mortgage Trust 2015-2 B3, 3.743%, 05/25/ 2045			1,176,480		0.0
	1,315,648	(1)(4)	Sequoia Mortgage Trust 2015-3 B3, 3.714%, 07/25/ 2045			1,273,976		0.0
	2,900,000	(1)(4)	Sequoia Mortgage Trust 2017-CH2 A13, 4.000%, 12/25/2047			2,909,336		0.1
	1,856,622	(1)(4)	Sequoia Mortgage Trust 2018-CH1 A19, 4.000%, 02/25/2048			1,874,011		0.1

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	4,969,294	(1)(4)	Sequoia Mortgage Trust 2018-CH1 B1B, 4.520%, 02/25/2048		$	5,147,960		0.1
	333,547		Structured Asset Mortgage Investments II Trust 2005-AR5 A2, 2.335%, (US0001M + 0.250%), 07/19/2035			327,052		0.0
	143,935		Structured Asset Mortgage Investments II Trust 2005-AR5 A3, 2.335%, (US0001M + 0.250%), 07/19/2035			140,645		0.0
	1,200,000	(1)(4)	Verus Securitization Trust 2017-SG1A B1, 3.615%, 11/25/2047			1,197,528		0.0
	1,300,000	(1)(4)	Verus Securitization Trust 2018-1 B1, 3.801%, 01/25/ 2058			1,303,105		0.1
	11,008		WaMu Mortgage Pass Through Certificates Series 2002-AR2 A, 2.145%, (COF 11 + 1.250%), 02/27/2034			10,900		0.0
	35,241		WaMu Mortgage Pass Through Certificates Series 2002-AR9 1A, 2.958%, (12MTA + 1.400%), 08/25/2042			34,510		0.0
	49,530		WaMu Mortgage Pass Through Certificates Series 2005-AR1 A1A, 2.731%, (US0001M + 0.640%), 01/25/2045			51,180		0.0
	1,225,834 (4)		WaMu Mortgage Pass Through Certificates Series 2006-AR12 2A3, 2.814%, 10/25/2036			1,137,527		0.0
	398,397		WaMu Mortgage Pass Through Certificates Series 2006-AR7 3A, 2.395%, (COF 11 + 1.500%), 07/25/2046			389,652		0.0
	86,272,368	(4)(5)	WaMu Mortgage Pass-Through Certificates Series 2005-AR11 X, 0.410%, 08/25/2045			1,785,553		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	2,722,824	WaMu Mortgage Pass-Through Certificates Series 2005-AR13 A1C3, 2.581%, (US0001M + 0.490%), 10/25/2045		$	2,733,950		0.1
	1,004,043 (4)	WaMu Mortgage Pass-Through Certificates Series 2006-AR12 1A1, 3.367%, 10/25/2036			978,356		0.0
	1,894,949 (4)	WaMu Mortgage Pass-Through Certificates Series 2006-AR16 2A1, 3.101%, 12/25/2036			1,721,286		0.1
	3,668,539 (4)	WaMu Mortgage Pass-Through Certificates Series 2006-AR8 1A4, 3.326%, 08/25/2046			3,517,421		0.1
	4,466,754 (4)	WaMu Mortgage Pass-Through Certificates Series 2007-HY4 1A1, 3.136%, 04/25/2037			4,091,692		0.1
	2,746,113 (4)	WaMu Mortgage Pass-Through Certificates Series 2007-HY7 2A2, 3.314%, 07/25/2037			2,281,443		0.1
	3,684,095	Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-11 A1, 5.750%, 01/25/2036			3,367,033		0.1
	339,195	Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2005-8 1A2, 5.500%, 10/25/2035			326,499		0.0
	2,268,516	Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2006-AR10 Trust, 2.191%, (US0001M + 0.100%), 12/25/2036			1,671,311		0.0
	5,375,120	Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2006-AR6 2A, 2.518%, (12MTA + 0.960%), 08/25/2046			4,097,584		0.1
	2,399,821	Wells Fargo Alternative Loan 2007-PA2 2A1, 2.521%, (US0001M + 0.430%), 06/25/2037			2,012,835		0.1

Principal Amount†				Value			Percentage of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued)
	65,977 (4)		Wells Fargo Mortgage Backed Securities 2004-CC A1, 3.755%, 01/25/2035		$	67,680		0.0
	90,426 (4)		Wells Fargo Mortgage Backed Securities 2004-EE 2A1, 4.149%, 12/25/2034			92,460		0.0
	281,729 (4)		Wells Fargo Mortgage Backed Securities 2005-AR7 1A1, 4.348%, 05/25/2035			285,370		0.0
	102,802 (4)		Wells Fargo Mortgage Backed Securities 2005-AR9 2A1, 3.709%, 10/25/2033			104,425		0.0
	1,511,699 (4)		Wells Fargo Mortgage Backed Securities 2006-AR2 2A5, 3.822%, 03/25/2036			1,499,621		0.0
	766,371 (4)		Wells Fargo Mortgage Backed Securities 2006-AR4 2A4, 4.190%, 04/25/2036			717,202		0.0
	1,100,448	(1)(4)	WinWater Mortgage Loan Trust 2015-5 B4, 3.796%, 08/20/2045			1,056,714		0.0
	13,497,676		Other Securities			12,986,158		0.4
			Total Collateralized Mortgage Obligations (Cost $546,067,431)			541,009,847		14.4
MUNICIPAL BONDS: 0.1%
			California: 0.1%
	1,600,000		Other Securities			2,079,219		0.1
			Total Municipal Bonds (Cost $1,609,333)			2,079,219		0.1
U.S. GOVERNMENT AGENCY OBLIGATIONS(6): 21.2%
			Federal Home Loan Mortgage Corporation: 11.0%(6)
	23,100,000 (7)		3.000%, 07/01/2045			22,348,590		0.6
	108,355		3.127%, 09/01/2035			112,335		0.0
	19,917		3.489%, 11/01/2031			21,021		0.0
	38,800		3.494%, 11/01/2035			40,883		0.0
	15,251,460		3.500%, 01/01/2045			15,235,987		0.4
	35,409,000 (7)		3.500%, 07/01/2045			35,214,365		0.9
	5,441		3.547%, 06/01/2024			5,683		0.0
	227,191		3.611%, 01/01/2029			235,195		0.0
	44,199		3.851%, 03/01/2035			45,401		0.0
	8,055,638		4.000%, 09/01/2045			8,244,958		0.2
	156,955,000 (7)		4.000%, 07/01/2048			160,014,401		4.3
	892,666		4.086%, 06/01/2035			939,418		0.0
	3,863		4.112%, 03/01/2036			4,065		0.0
	5,921		4.118%, 04/01/2032			6,189		0.0
	61,256,000 (7)		4.500%, 07/01/2048			63,751,211		1.7

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS(6): (continued)
		Federal Home Loan Mortgage Corporation (continued)
	106,453,242 (7)	2.500%-6.500%, 07/01/2019-03/01/2048		$	107,230,914		2.9
					413,450,616		11.0
		Federal National Mortgage Association: 8.9%(6)
	89,161	2.664%, 08/01/2042			90,517		0.0
	51,854	2.664%, 08/01/2042			52,606		0.0
	77,148	2.664%, 10/01/2044			78,311		0.0
	44,169	2.664%, 10/01/2044			44,856		0.0
	16,554,127	3.000%, 07/01/2043			16,173,692		0.4
	12,407,539	3.000%, 04/01/2045			12,093,956		0.3
	33,599,300 (7)	3.000%, 07/01/2048			32,541,447		0.9
	512,865	3.089%, 08/01/2035			531,744		0.0
	121,381	3.184%, 09/01/2035			125,052		0.0
	202,563	3.188%, 07/01/2035			211,476		0.0
	36,929	3.216%, 08/01/2035			38,591		0.0
	6,760	3.217%, 05/01/2036			6,934		0.0
	262,126	3.293%, 02/01/2033			268,945		0.0
	285,520	3.403%, 10/01/2035			298,704		0.0
	305,376	3.410%, 10/01/2035			320,314		0.0
	281,353	3.417%, 10/01/2035			295,137		0.0
	35,247,311	3.500%, 08/01/2046			35,220,239		1.0
	209,321	3.501%, 02/01/2034			219,089		0.0
	3,234	3.534%, 09/01/2031			3,358		0.0
	376,043	3.560%, 09/01/2034			397,799		0.0
	136,705	3.685%, 04/01/2035			143,087		0.0
	70,763	3.757%, 02/01/2035			73,675		0.0
	12,098,979	4.000%, 12/01/2039			12,428,127		0.3
	9,224,429	4.000%, 01/01/2045			9,534,504		0.3
	9,628	4.085%, 04/01/2032			9,752		0.0
	91,762	4.234%, 12/01/2036			96,110		0.0
	209,167,874 (7)	2.500%-7.500%, 07/01/2018-07/01/2048			216,412,512		5.7
					337,710,534		8.9
		Government National Mortgage Association: 1.3%
	10,032,000 (7)	3.000%, 07/01/2044			9,812,354		0.3
	13,155,000 (7)	3.500%, 07/01/2048			13,202,275		0.3
	24,357,615 (4)	3.500%-5.500%, 11/15/2035-10/20/2060			25,160,716		0.7
					48,175,345		1.3
		Total U.S. Government Agency Obligations (Cost $806,680,418)			799,336,495		21.2

Principal Amount†			Value			Percentage of Net Assets
FOREIGN GOVERNMENT BONDS: 1.4%
	BRL46,898,000	Brazil Notas do Tesouro Nacional Serie F, 10.000%, 01/01/2027-01/01/2029		$	10,959,349		0.3
	88,119,925,100	Other Securities			41,899,155		1.1
		Total Foreign Government Bonds (Cost $60,325,848)			52,858,504		1.4

U.S. TREASURY OBLIGATIONS: 6.7%
		U.S. Treasury Bonds: 2.6%
	98,770,000 (2)	3.000%, 02/15/2048			99,020,783		2.6
		U.S. Treasury Notes: 4.1%
	10,000,000	1.375%, 01/15/2020			9,832,617		0.3
	22,610,000	2.625%, 06/30/2023			22,495,625		0.6
	105,637,000	2.875%, 05/15/2028			105,816,501		2.8
	16,588,000	1.625%-2.875%, 03/31/ 2019-05/31/2025			16,382,034		0.4
					154,526,777		4.1
		Total U.S. Treasury Obligations (Cost $252,091,007)			253,547,560		6.7
ASSET-BACKED SECURITIES: 11.6%
		Automobile Asset-Backed Securities: 0.2%
	1,700,000 (1)	Oscar US Funding Trust VI LLC 2017-1A A3, 2.820%, 06/10/2021			1,694,910		0.0
	1,750,000 (1)	OSCAR US Funding Trust VII LLC 2017-2A A4, 2.760%, 12/10/2024			1,722,880		0.0
	2,000,000 (1)	OSCAR US Funding Trust VIII LLC 2018-1A A2A, 2.910%, 04/12/2021			1,998,760		0.1
	1,850,000 (1)	SunTrust Auto Receivables Trust 2015-1A B, 2.200%, 02/15/2021			1,831,059		0.1
	1,700,000	Other Securities			1,690,831		0.0
					8,938,440		0.2
		Home Equity Asset-Backed Securities: 0.3%
	1,300,000	Home Equity Asset Trust 2005-2 M5, 3.186%, (US0001M + 1.095%), 07/25/2035			1,315,325		0.0
	2,400,000	Morgan Stanley ABS Capital I, Inc. Trust 2005-NC2 M4, 3.006%, (US0001M + 0.915%), 03/25/2035			2,403,271		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Home Equity Asset-Backed Securities (continued)
	532,777		New Century Home Equity Loan Trust 2005-2 M3, 2.826%, (US0001M + 0.735%), 06/25/2035		$	534,498		0.0
	71,289		Renaissance Home Equity Loan Trust 2003-2 A, 2.971%, (US0001M + 0.880%), 08/25/2033			69,866		0.0
	62,185		Securitized Asset Backed Receivables LLC Trust 2006-WM4 A2A, 2.171%, (US0001M + 0.080%), 11/25/2036			26,335		0.0
	3,536,069		WaMu Asset-Backed Certificates WaMu Series 2007-HE4 2A3 Trust, 2.261%, (US0001M + 0.170%), 07/25/2047			2,574,279		0.1
	2,600,000		Other Securities			2,708,819		0.1
						9,632,393		0.3
			Other Asset-Backed Securities: 10.5%
	3,905,131	(1)(8)	AJAX Mortgage Loan Trust 2016-C A, 4.000% (Step Rate @ 7.000% on 11/25/ 2019), 10/25/2057			3,924,027		0.1
	1,729,843	(1)(8)	AJAX Mortgage Loan Trust 2017-A A, 3.470% (Step Rate @ 6.470% on 05/25/ 2020), 04/25/2057			1,722,043		0.0
	6,860,000 (1)		ALM VII R-2 Ltd. 2013-7R2A A2R, 4.348%, (US0003M + 2.000%), 10/15/2027			6,871,093		0.2
	4,090,000 (1)		ALM VIII Ltd. 2013-8A A1R, 3.838%, (US0003M + 1.490%), 10/15/2028			4,097,006		0.1
	2,523,779 (5	(1)(4) )(9)(10)	American Homes 4 Rent 2015-SFR1 XS, 0.000%, 04/17/2052			—		—
	2,200,000 (1)		American Homes 4 Rent 2015-SFR2 D, 5.036%, 10/17/2045			2,306,655		0.1
	12,437,798 (	(1)(4) 5)(9)(10)	American Homes 4 Rent 2015-SFR2 XS, 0.000%, 10/17/2045			—		—
	4,670,000 (1)		Apidos CLO XI 2012-11A BR, 4.303%, (US0003M + 1.950%), 01/17/2028			4,675,567		0.1

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Other Asset-Backed Securities (continued)
	4,200,000 (1)	Apidos CLO XVII 2014-17A A2R, 4.203%, (US0003M + 1.850%), 04/17/2026		$	4,200,978		0.1
	7,370,000 (1)	Apidos CLO XVII 2014-17A BR, 4.853%, (US0003M + 2.500%), 04/17/2026			7,384,320		0.2
	5,370,000 (1)	Apidos Clo XXV 2016-25A A1, 3.819%, (US0003M + 1.460%), 10/20/2028			5,375,182		0.2
	8,000,000 (1)	Ares XLVI CLO Ltd. 2017-46A A2, 3.578%, (US0003M + 1.230%), 01/15/2030			8,012,040		0.2
	5,750,000 (1)	Ares XXIX CLO Ltd. 2014-1A BR, 4.653%, (US0003M + 2.300%), 04/17/2026			5,750,972		0.2
	4,280,000 (1)	Avery Point IV CLO Ltd. 2014-1A CR, 4.710%, (US0003M + 2.350%), 04/25/2026			4,282,423		0.1
	4,393,000 (1)	Babson CLO Ltd. 2018-3A A2, 3.320%, (US0003M + 1.300%), 07/20/2029			4,369,607		0.1
	1,600,000 (1)	Bain Capital Credit CLO 2017-1A A2, 3.709%, (US0003M + 1.350%), 07/20/2030			1,603,850		0.0
	3,470,000 (1)	Barings CLO Ltd. 2017-1A A2, 3.705%, (US0003M + 1.350%), 07/18/2029			3,480,702		0.1
	1,469,386 (4)	Bear Stearns Asset Backed Securities Trust 2006-SD4 1A1, 4.005%, 10/25/2036			1,480,148		0.0
	9,020,000 (1)	Benefit Street Partners CLO II Ltd. 2013-IIA A1R, 3.598%, (US0003M + 1.250%), 07/15/2029			9,049,766		0.2
	1,800,000 (1)	Birchwood Park CLO Ltd. 2014-1A C1R, 4.598%, (US0003M + 2.250%), 07/15/2026			1,800,373		0.0
	5,850,000 (1)	BlueMountain CLO 2014-4A CR, 4.869%, (US0003M + 2.550%), 11/30/2026			5,857,207		0.2
	5,070,000 (1)	BlueMountain CLO 2015-1A BR, 4.842%, (US0003M + 2.500%), 04/13/2027			5,095,066		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Other Asset-Backed Securities (continued)
	4,570,000 (1)	Burnham Park Clo Ltd. 2016-1A A, 3.789%, (US0003M + 1.430%), 10/20/2029		$	4,578,779		0.1
	4,000,000 (1)	Carbone CLO Ltd 2017-1A A1, 2.809%, (US0003M + 1.140%), 01/20/2031			3,997,748		0.1
	2,400,000 (1)	Carlyle Global Market Strategies CLO Ltd. 2014-1A A2R2, 3.471%, (US0003M + 1.130%), 04/17/2031			2,405,460		0.1
	8,630,000 (1)	Carlyle Global Market Strategies CLO Ltd. 2017-1A A1A, 3.659%, (US0003M + 1.300%), 04/20/2031			8,640,347		0.2
	4,530,000 (1)	Cedar Funding II CLO Ltd. 2013-1A CR, 4.677%, (US0003M + 2.350%), 06/09/2030			4,544,740		0.1
	3,950,000 (1)	Cedar Funding IV CLO Ltd. 2014-4A CR, 4.612%, (US0003M + 2.250%), 07/23/2030			3,954,685		0.1
	13,380,000 (1)	Cedar Funding VI CLO Ltd. 2016-6A A1, 3.829%, (US0003M + 1.470%), 10/20/2028			13,386,128		0.4
	6,440,000 (1)	Cent CLO 2014-22A A2AR, 4.313%, (US0003M + 1.950%), 11/07/2026			6,445,751		0.2
	61,334	Chase Funding Trust Series 2002-4 2A1, 2.831%, (US0001M + 0.740%), 10/25/2032			61,009		0.0
	106,708	Chase Funding Trust Series 2003-5 2A2, 2.691%, (US0001M + 0.600%), 07/25/2033			103,822		0.0
	3,750,000 (1)	CIFC Funding 2013-2A A1LR, 3.565%, (US0003M + 1.210%), 10/18/2030			3,762,982		0.1
	3,550,000 (1)	CIFC Funding 2014-4A C1R, 5.003%, (US0003M + 2.650%), 10/17/2026			3,551,431		0.1
	4,110,000 (1)	CIFC Funding 2016-1A A, 3.842%, (US0003M + 1.480%), 10/21/2028			4,116,917		0.1
	525,541	Countrywide Asset-Backed Certificates 2006-26 2A3, 2.261%, (US0001M + 0.170%), 06/25/2037			524,668		0.0

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Other Asset-Backed Securities (continued)
	7,300,000	Credit-Based Asset Servicing & Securitization LLC 2006-CB8 A2C, 2.241%, (US0001M + 0.150%), 10/25/2036		$	6,509,977		0.2
	12,160,000 (1)	Dewolf Park Clo Ltd. 2017-1A A, 3.558%, (US0003M + 1.210%), 10/15/2030			12,175,382		0.3
	7,790,000 (1)	Dryden 33 Senior Loan Fund 2014-33A AR, 3.778%, (US0003M + 1.430%), 10/15/2028			7,812,544		0.2
	1,200,000 (1)	Dryden 55 CLO Ltd. 2018-55A A1, 3.061%, (US0003M + 1.020%), 04/15/2031			1,198,008		0.1
	8,610,000 (1)	Dryden Senior Loan Fund 2017-47A A2, 3.698%, (US0003M + 1.350%), 04/15/2028			8,616,690		0.2
	7,130,000 (1)	Dryden Senior Loan Fund 2017-47A C, 4.548%, (US0003M + 2.200%), 04/15/2028			7,167,568		0.2
	7,460,000 (1)	Dryden XXVIII Senior Loan Fund 2013-28A A1LR, 3.543%, (US0003M + 1.200%), 08/15/2030			7,468,176		0.2
	3,671,550 (1)	Five Guys Holdings, Inc. 2017-1A A2, 4.600%, 07/25/2047			3,703,056		0.1
	3,250,000 (1)	Flatiron CLO Ltd. 2013-1A A2R, 4.003%, (US0003M + 1.650%), 01/17/2026			3,250,026		0.1
	4,770,000 (1)	Flatiron CLO Ltd. 2013-1A BR, 4.703%, (US0003M + 2.350%), 01/17/2026			4,771,283		0.1
	4,250,000 (1)	Galaxy XIX CLO Ltd. 2015-19A A1R, 3.579%, (US0003M + 1.220%), 07/24/2030			4,260,731		0.1
	2,100,000 (1)	Gilbert Park CLO Ltd. 2017-1A A, 3.538%, (US0003M + 1.190%), 10/15/2030			2,102,656		0.1
	1,800,000 (1)	Gilbert Park CLO Ltd. 2017-1A B, 3.948%, (US0003M + 1.600%), 10/15/2030			1,803,413		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Other Asset-Backed Securities (continued)
	133,902		GSAMP Trust 2007-FM1 A2A, 2.161%, (US0001M + 0.070%), 12/25/2036		$	70,966		0.0
	3,802,079 (1)		HERO Funding Trust 2015-2A A, 3.990%, 09/20/2040			3,871,762		0.1
	1,500,000 (1)		Jay Park CLO Ltd. 2016-1A B, 4.759%, (US0003M + 2.400%), 10/20/2027			1,503,141		0.0
	4,300,000	(1)(7)	KKR CLO 21 A Ltd., 3.345%, (US0003M + 1.000%), 04/15/2031			4,275,920		0.1
	10,000,000 (1)		LCM 26A A2 Ltd., 3.176%, (US0003M + 1.250%), 01/20/2031			10,015,080		0.3
	1,308,000 (1)		LCM XIV L.P. 14A AR, 3.440%, (US0003M + 1.040%), 07/20/2031			1,307,970		0.0
	6,690,000 (1)		LCM XXIII Ltd. 23A A1, 3.759%, (US0003M + 1.400%), 10/20/2029			6,720,687		0.2
	58,753		Long Beach Mortgage Loan Trust 2004-4 1A1, 2.651%, (US0001M + 0.560%), 10/25/2034			57,252		0.0
	4,450,000 (1)		Madison Park Funding XI Ltd. 2013-11A CR, 4.562%, (US0003M + 2.200%), 07/23/2029			4,450,480		0.1
	2,120,000 (1)		Madison Park Funding XV Ltd. 2014-15A B1R, 4.566%, (US0003M + 2.200%), 01/27/2026			2,120,651		0.1
	1,356,785 (1)		Mosaic Solar Loan Trust 2018-1A A, 4.010%, 06/22/2043			1,362,189		0.0
	1,500,000 (1)		Mosaic Solar Loan Trust 2018-2-GS B, 4.740%, 02/20/2044			1,499,483		0.1
	4,205,800 (1)		Mosaic Solar Loans 2017-2A A LLC, 3.820%, 09/20/2042			4,181,869		0.1
	4,510,000 (1)		Octagon Investment Partners 30 Ltd. 2017-1A A1, 3.679%, (US0003M + 1.320%), 03/17/2030			4,521,879		0.1
	3,000,000 (1)		Octagon Investment Partners Ltd. 2017-1A A2, 3.698%, (US0003M + 1.350%), 07/15/2029			3,005,541		0.1

Principal Amount†			Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
		Other Asset-Backed Securities (continued)
	2,250,000 (1)	Octagon Investment Partners XIV Ltd. 2012-1A A1BR, 3.723%, (US0003M + 1.375%), 07/15/2029		$	2,259,401		0.1
	1,430,000 (1)	Octagon Investment Partners XIX Ltd. 2014-1A CR, 4.448%, (US0003M + 2.100%), 04/15/2026			1,430,060		0.0
	4,000,000 (1)	Octagon Investment Partners XV Ltd. 2013-1A A2R, 3.705%, (US0003M + 1.350%), 07/19/2030			4,010,808		0.1
	7,070,000 (1)	OHA Loan Funding Ltd. 2015-1A AR, 3.753%, (US0003M + 1.410%), 08/15/2029			7,106,375		0.2
	7,900,000 (1)	OHA Loan Funding Ltd. 2015-1A BR, 4.143%, (US0003M + 1.800%), 08/15/2029			7,907,323		0.2
	2,340,000 (1)	Palmer Square CLO 2013-2A BR Ltd., 4.603%, (US0003M + 2.250%), 10/17/2027			2,343,185		0.1
	3,300,000 (1)	Palmer Square CLO 2015-1A BR Ltd., 4.881%, (US0003M + 2.550%), 05/21/2029			3,317,374		0.1
	1,375,000 (1)	Palmer Square CLO 2015-2A A1AR Ltd., 3.629%, (US0003M + 1.270%), 07/20/2030			1,378,165		0.0
	4,070,000 (1)	Palmer Square CLO 2015-2A A1BR Ltd., 3.709%, (US0003M + 1.350%), 07/20/2030			4,082,796		0.1
	3,000,000 (1)	Palmer Square CLO 2018-1A A1 Ltd., 3.208%, (US0003M + 1.030%), 04/18/2031			2,984,895		0.1
	5,700,000 (1)	Palmer Square Loan Funding 2017-1A C Ltd., 5.148%, (US0003M + 2.800%), 10/15/2025			5,659,331		0.1
	2,000,000 (1)	Palmer Square Loan Funding 2018-1A C Ltd., 4.073%, (US0003M + 1.850%), 04/15/2026			1,984,020		0.1

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Other Asset-Backed Securities (continued)
	900,000	(1)(7)	Palmer Square Loan Funding 2018-2A C Ltd., 4.310%, (US0003M + 1.950%), 07/15/2026		$	891,764		0.0
	2,500,000		Park Place Securities, Inc. Asset-Backed Pass-Through Ctfs Ser 2005-WHQ1 M4, 3.171%, (US0001M + 1.080%), 03/25/2035			2,516,850		0.1
	8,200,000 (1)		Progress Residential 2015-SFR2 E, 4.427%, 06/12/2032			8,213,842		0.2
	4,375,000 (1)		Sofi Consumer Loan Program 2018-1 C Trust, 3.970%, 02/25/2027			4,323,762		0.1
	1,500,000 (1)		Sofi Consumer Loan Program 2018-2 C Trust, 4.250%, 04/26/2027			1,496,580		0.1
	2,912,216 (1)		Springleaf Funding Trust 2015-A A, 3.160%, 11/15/2024			2,911,472		0.1
	10,200,000 (1)		Symphony CLO Ltd. 2012-9A AR, 3.798%, (US0003M + 1.450%), 10/16/2028			10,216,718		0.3
	4,200,000 (1)		Symphony CLO Ltd. 2016-18A B, 4.162%, (US0003M + 1.800%), 01/23/2028			4,210,962		0.1
	3,930,000 (1)		Symphony CLO XIV Ltd. 2014-14A C1R, 4.848%, (US0003M + 2.500%), 07/14/2026			3,930,900		0.1
	4,629,500 (1)		Taco Bell Funding 2016-1A A2I, 3.832%, 05/25/2046			4,643,689		0.1
	825,430 (1)		Taco Bell Funding LLC 2016-1A A2II, 4.377%, 05/25/2046			838,416		0.0
	5,500,000 (1)		TES LLC 2017-1A B, 7.740%, 10/20/2047			5,648,180		0.2
	2,200,000 (1)		Thacher Park CLO Ltd. 2014-1A CR, 4.559%, (US0003M + 2.200%), 10/20/2026			2,200,761		0.1
	2,400,000 (1)		THL Credit Wind River 2013-2A AR CLO Ltd., 3.585%, (US0003M + 1.230%), 10/18/2030			2,406,449		0.1

Principal Amount†				Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Other Asset-Backed Securities (continued)
	2,570,000 (1)		THL Credit Wind River 2017-1A C CLO Ltd., 4.655%, (US0003M + 2.300%), 04/18/2029		$	2,578,124		0.1
	12,650,000 (1)		Wind River CLO Ltd. 2016-2A A, 3.858%, (US0003M + 1.500%), 11/01/2028			12,664,965		0.3
	1,500,000	(1)(4)	Towd Point Mortgage Trust 2017-3 M1, 3.500%, 07/25/2057			1,460,639		0.0
	6,300,000	(1)(4)	Towd Point Mortgage Trust 2017-6 M2, 3.250%, 10/25/2057			5,857,085		0.2
	1,691,500 (1)		Wendys Funding LLC 2018-1A A2I, 3.573%, 03/15/2048			1,647,132		0.0
	1,820,993		Other Securities			1,817,847		0.0
						396,157,742		10.5
			Student Loan Asset-Backed Securities: 0.6%
	1,250,000 (1)		Commonbond Student Loan Trust 2017-BGS B, 3.260%, 09/25/2042			1,209,367		0.0
	1,795,866 (1)		DRB Prime Student Loan Trust 2015-B A2, 3.170%, 07/25/2031			1,791,540		0.0
	2,572,328 (1)		DRB Prime Student Loan Trust 2015-D A2, 3.200%, 01/25/2040			2,570,114		0.1
	779,929 (1)		Earnest Student Loan Program, LLC 2016-C B, 4.460%, 01/26/2037			775,822		0.0
	2,000,000 (1)		Navient Private Education Refi Loan Trust 2018-A B, 3.680%, 02/18/2042			1,986,391		0.1
	1,550,000 (1)		SMB Private Education Loan Trust 2014-A C, 4.500%, 09/15/2045			1,501,282		0.1
	1,500,000 (1)		SMB Private Education Loan Trust 2017-A B, 3.500%, 06/17/2041			1,409,187		0.0
	269,495 (1)		SoFi Professional Loan Program 2015-C A2, 2.510%, 08/25/2033			264,848		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
ASSET-BACKED SECURITIES: (continued)
			Student Loan Asset-Backed Securities (continued)
	2,500,000	(1)(4)	SoFi Professional Loan Program 2017-C B, 3.560%, 07/25/2040		$	2,398,301		0.1
	2,100,000 (1)		SoFi Professional Loan Program 2017-F BFX LLC, 3.620%, 01/25/2041			2,044,854		0.0
	2,200,000 (1)		Sofi Professional Loan Program 2018-A B LLC, 3.610%, 02/25/2042			2,168,853		0.1
	5,000,000 (1)		Sofi Professional Loan Program 2018-B BFX Trust, 3.830%, 08/25/2047			4,999,819		0.1
						23,120,378		0.6
			Total Asset-Backed Securities (Cost $436,203,448)			437,848,953		11.6
COMMERCIAL MORTGAGE-BACKED SECURITIES: 4.7%
	10,870,000		BANK 2017-BNK8 A4, 3.488%, 11/15/2050			10,689,570		0.3
	4,130,000 (4)		BANK 2017-BNK8 B, 3.931%, 11/15/2050			4,087,271		0.1
	41,614,487	(4)(5)	Barclays Commercial Mortgage Trust 2017-C1 XA, 1.685%, 02/15/2050			4,100,950		0.1
	22,800,000	(1)(4)(5)	BBCCRE Trust 2015-GTP XA, 0.749%, 08/10/2033			917,677		0.0
	753,698	(1)(4)	Bear Stearns Commercial Mortgage Securities Trust 2004-TOP14 L, 5.405%, 01/12/2041			753,776		0.0
	1,350,000	(1)(4)	Bear Stearns Commercial Mortgage Securities Trust 2004-TOP14 M, 5.405%, 01/12/2041			1,344,432		0.1
	1,350,000	(1)(4)	Bear Stearns Commercial Mortgage Securities Trust 2004-TOP14 N, 5.405%, 01/12/2041			1,332,393		0.0
	1,089,649 (1)		Beckman Coulter, Inc. 2000-A A, 7.498%, 12/15/2018			1,088,376		0.0
	20,410,625	(4)(5)	CD 2016-CD1 Mortgage Trust XA, 1.565%, 08/10/2049			1,753,405		0.0
	3,520,000 (1)		CHT 2017-COSMO A Mortgage Trust, 3.003%, (US0001M + 0.930%), 11/15/2036			3,522,296		0.1

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	3,570,000 (4)		Citigroup Commercial Mortgage Trust 2017-P8 C, 4.414%, 09/15/2050		$	3,481,869		0.1
	35,887,524	(4)(5)	Citigroup Commercial Mortgage Trust 2017-P8 XA, 1.073%, 09/15/2050			2,406,933		0.0
	59,021,000	(4)(5)	Citigroup Commercial Mortgage Trust 2018-C5 XA, 0.604%, 06/10/2051			3,141,369		0.1
	17,768,313	(4)(5)	COMM 2012-CR1 XA, 2.050%, 05/15/2045			1,058,745		0.0
	14,854,635	(4)(5)	COMM 2012-CR2 XA, 1.817%, 08/15/2045			820,086		0.0
	26,213,128	(4)(5)	COMM 2012-CR3 XA, 2.038%, 10/15/2045			1,708,823		0.1
	65,166,000	(1)(4)(5)	COMM 2012-CR4 XB, 0.747%, 10/15/2045			1,620,196		0.0
	21,580,825	(4)(5)	COMM 2012-CR5 XA, 1.696%, 12/10/2045			1,202,909		0.0
	32,122,643	(1)(4)(5)	COMM 2012-LC4 XA, 2.383%, 12/10/2044			1,835,549		0.1
	85,979,020	(4)(5)	COMM 2014-UBS2 XA, 1.507%, 03/10/2047			4,186,069		0.1
	214,711,000	(1)(4)(5)	COMM 2014-UBS2 XB, 0.208%, 03/10/2047			1,715,240		0.1
	4,000,000 (4)		COMM 2015-PC1 C, 4.589%, 07/10/2050			3,732,109		0.1
	910,000 (4)		COMM 2016-COR1 C, 4.540%, 10/10/2049			895,390		0.0
	82,765,690	(4)(5)	COMM 2016-CR28 XA, 0.692%, 02/10/2049			3,184,774		0.1
	4,450,000	(1)(4)	DBUBS 2011-LC2A D, 5.719%, 07/10/2044			4,589,944		0.1
	25,317,409	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K006 BX1, 5.542%, 02/25/2020			2,088,084		0.1
	20,760,000	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K008 X3, 5.444%, 08/25/2020			2,038,487		0.1
	45,593,599	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K014 X1, 1.341%, 04/25/2021			1,257,239		0.0
	84,529,000	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K019 X3, 2.052%, 05/25/2040			5,671,296		0.2

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	33,996,139	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K020 X1, 1.553%, 05/25/2022		$	1,529,034		0.0
	36,470,000	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K020 X3, 1.938%, 05/25/2040			2,359,718		0.1
	46,226,686	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K023 X1, 1.393%, 08/25/2022			1,994,307		0.1
	22,000,000	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K028 X3, 1.719%, 06/25/2041			1,530,342		0.0
	27,650,000	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K029 X3, 1.649%, 05/25/2041			1,831,514		0.0
	15,700,000	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K035 X3, 1.852%, 12/25/2041			1,286,984		0.0
	31,440,000	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K040 X3, 2.104%, 11/25/2042			3,389,672		0.1
	35,800,243	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K706 X1, 1.686%, 10/25/2018			118,348		0.0
	30,984,016	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K707 X1, 1.644%, 12/25/2018			100,980		0.0
	47,848,125	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K709 X1, 1.631%, 03/25/2019			321,712		0.0
	46,917,826	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K711 X1, 1.800%, 07/25/2019			499,816		0.0
	55,973,226	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates K712 X1, 1.448%, 11/25/2019			706,119		0.0
	104,399,984	(4)(5)	Freddie Mac Multifamily Structured Pass Through Certificates KC01 X1, 0.842%, 12/25/2022			2,069,500		0.1

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	602,194,308	(1)(5)	FREMF Mortgage Trust 2012-K17 X2A, 0.100%, 12/25/2044		$	1,611,231		0.0
	445,208,997	(1)(5)	FREMF Mortgage Trust 2013-K29 X2A, 0.125%, 05/25/2046			2,063,187		0.1
	7,600,000	(1)(4)	GS Mortgage Securities Trust 2010-C2 D, 5.355%, 12/10/2043			7,738,670		0.2
	4,400,000	(1)(4)	GS Mortgage Securities Trust 2010-C2 F, 4.548%, 12/10/2043			3,979,388		0.1
	33,255,402	(4)(5)	GS Mortgage Securities Trust 2012-GCJ7 XA, 2.405%, 05/10/2045			1,683,891		0.0
	15,046,458	(4)(5)	GS Mortgage Securities Trust 2013-GC16 XA, 1.558%, 11/10/2046			554,817		0.0
	48,249,767	(4)(5)	GS Mortgage Securities Trust 2014-GC22 XA, 1.160%, 06/10/2047			2,033,399		0.1
	206,192	(1)(4)	JP Morgan Chase Commercial Mortgage Securities Corp. 2004-C2 H, 5.955%, 05/15/2041			205,931		0.0
	23,450,000	(1)(4)(5)	JP Morgan Chase Commercial Mortgage Securities Corp. 2012-LC9 XB, 0.413%, 12/15/2047			324,377		0.0
	623,227	(1)(4)	JP Morgan Chase Commercial Mortgage Securities Trust 2003-CB6 H, 5.379%, 07/12/2037			618,389		0.0
	3,632,778 (4)		JP Morgan Chase Commercial Mortgage Securities Trust 2004-CIBC9 E, 5.466%, 06/12/2041			3,689,489		0.1
	32,634,026	(4)(5)	JP Morgan Chase Commercial Mortgage Securities Trust 2012-CIBX XA, 1.653%, 06/15/2045			1,289,247		0.0
	2,600,000	(1)(4)	JPMBB Commercial Mortgage Securities Trust 2013-C15 D, 5.253%, 11/15/2045			2,594,405		0.1
	29,951,469	(4)(5)	JPMBB Commercial Mortgage Securities Trust 2014-C26 XA, 1.262%, 01/15/2048			1,301,478		0.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	2,685,628	(4)(5)	JPMBB Commercial Mortgage Securities Trust 2015-C28 XA, 1.294%, 10/15/2048		$	128,220		0.0
	20,138,728	(4)(5)	JPMCC Commercial Mortgage Securities Trust 2017-JP6 XA, 1.477%, 07/15/2050			1,436,588		0.1
	128,598	(1)(4)	LB-UBS Commercial Mortgage Trust 2005-C1 G, 5.854%, 02/15/2040			128,256		0.0
	2,723,000	(1)(4)	LB-UBS Commercial Mortgage Trust 2005-C1 H, 5.954%, 02/15/2040			2,724,601		0.1
	2,600,000	(1)(4)	LB-UBS Commercial Mortgage Trust 2005-C5 G, 5.350%, 09/15/2040			2,653,326		0.1
	2,188,818	(1)(4)(5)	LB-UBS Commercial Mortgage Trust 2006-C7 XCL, 0.899%, 11/15/2038			5,803		0.0
	11,435,631	(1)(4)(5)	LB-UBS Commercial Mortgage Trust 2006-C7 XW, 0.899%, 11/15/2038			30,275		0.0
	3,930,000	(1)(4)	Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5 D, 4.843%, 08/15/2045			3,939,166		0.1
	5,000,000 (4)		Morgan Stanley Bank of America Merrill Lynch Trust 2015-C20 C, 4.610%, 02/15/2048			4,918,130		0.1
	1,000,000	(1)(4)	Morgan Stanley Capital I Trust 2005-T19 G, 5.784%, 06/12/2047			985,061		0.0
	2,375,000	(1)(4)	Morgan Stanley Capital I Trust 2011-C1 D, 5.599%, 09/15/2047			2,449,842		0.1
	3,325,000	(1)(4)	Morgan Stanley Capital I Trust 2011-C1 E, 5.599%, 09/15/2047			3,433,159		0.1
	3,480,000 (1)		Morgan Stanley Capital I, Inc. 2017-JWDR A, 2.923%, (US0001M + 0.850%), 11/15/2034			3,477,881		0.1
	1,710,437 (1)		Morgan Stanley Reremic Trust 2012-XA B, 0.250%, 07/27/2049			1,687,399		0.1
	79,702,122	(4)(5)	UBS Commercial Mortgage Trust 2017-C5, 1.175%, 11/15/2050			5,424,470		0.1

Principal Amount†				Value			Percentage of Net Assets
COMMERCIAL MORTGAGE-BACKED SECURITIES: (continued)
	26,718,944	(1)(4)(5)	UBS-Barclays Commercial Mortgage Trust 2012-C3 XA, 2.053%, 08/10/2049		$	1,755,133		0.1
	32,452,418	(4)(5)	Wells Fargo Commercial Mortgage Trust 2014-LC18 XA, 1.284%, 12/15/2047			1,712,079		0.0
	21,543,496	(1)(4)(5)	WFRBS Commercial Mortgage Trust 2012-C8 XA, 2.007%, 08/15/2045			1,303,209		0.0
	9,020,000	(1)(4)	WFRBS Commercial Mortgage Trust 2013-C11 F, 4.414%, 03/15/2045			6,970,865		0.2
	14,180,000	(1)(4)	WFRBS Commercial Mortgage Trust 2013-C11 G, 4.414%, 03/15/2045			5,655,241		0.2
	58,166,870	(1)(4)(5)	WFRBS Commercial Mortgage Trust 2013-C12 XA, 1.416%, 03/15/2048			2,754,521		0.1
	1,042,015		Other Securities			1,022,326		0.0
			Total Commercial Mortgage-Backed Securities (Cost $180,658,604)			178,246,753		4.7

Shares			Value		Percentage of Net Assets
MUTUAL FUNDS: 18.4%
		Affiliated Investment Companies: 18.4%
	9,246,286	Voya Emerging Markets Corporate Debt Fund - Class P		87,932,178		2.3
	14,503,851	Voya Emerging Markets Hard Currency Debt Fund - Class P		133,145,351		3.5
	8,932,974	Voya Emerging Markets Local Currency Debt Fund - Class P		62,977,465		1.7
	2,482,643	Voya Floating Rate Fund Class P		24,329,902		0.6
	14,199,909	Voya High Yield Bond Fund - Class P		111,327,290		3.0
	13,124,726	Voya Investment Grade Credit Fund - Class P		136,103,411		3.6
	13,401,561	Voya Securitized Credit Fund - Class P		137,634,030		3.7
		Total Mutual Funds (Cost $731,633,032)		693,449,627		18.4

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
PREFERRED STOCK: 0.0%
		Utilities: 0.0%
	88,468 (11)	Other Securities		$	2,072,805		0.0
		Total Preferred Stock (Cost $2,211,700)			2,072,805		0.0
		Total Long-Term Investments (Cost $4,049,195,606)			3,966,007,373		105.2

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 6.3%
		Commercial Paper: 3.2%
	5,945,000	AT&T, Inc., 2.540%, 07/10/2018		5,940,867		0.1
	10,000,000	Autozone Inc D, 2.660%, 07/06/2018		9,995,625		0.3
	22,000,000	Concord Minute, 2.390%, 07/05/2018		21,992,799		0.6
	7,000,000	Consolidated E, 2.940%, 07/03/2018		6,998,310		0.2
	2,500,000	Harley Davison, 2.570%, 09/07/2018		2,487,930		0.1
	40,000,000	Johnson CTLS I, 3.280%, 07/02/2018		39,992,817		1.0
	15,000,000	Marriott Intl, 2.520%, 07/11/2018		14,988,625		0.4
	14,000,000	McDonald’s Corp., 2.540%, 07/10/2018		13,990,268		0.4
	5,000,000	NBC Universal, 2.470%, 07/19/2018		4,993,583		0.1
				121,380,824		3.2
		Securities Lending Collateral(12): 2.7%
	48,626,882	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $48,635,195, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $49,599,419, due 07/25/18-06/15/53)		48,626,882		1.3

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(12) (continued)
	4,987,210	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $4,988,145, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $5,086,955, due 11/15/42-08/15/44)		$	4,987,210		0.1
	24,313,441	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $24,317,338, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $24,799,781, due 01/31/20-09/09/49)			24,313,441		0.7
	24,313,441	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $24,318,037, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $24,799,891, due 07/15/19-02/15/48)			24,313,441		0.6
					102,240,974		2.7

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
			Mutual Funds: 0.4%
	14,300,000 (13	)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $14,300,000)		$	14,300,000		0.4
			Total Short-Term Investments (Cost $237,936,565)			237,921,798		6.3
			Total Investments in Securities (Cost $4,287,132,171)		$	4,203,929,171		111.5
			Liabilities in Excess of Other Assets			(435,256,553)		(11.5)
			Net Assets		$	3,768,672,618		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

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)

The grouping contains securities on loan.

(4)

Variable rate security. Rate shown is the rate in effect as of June 30, 2018.

(5)

(6)

(7)

Settlement is on a when-issued or delayed-delivery basis.

(8)

Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rates shown reflect the current and next coupon rate as of June 30, 2018.

(9)

For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.

(10)

Represents a zero coupon bond. Rate shown reflects the effective yield as of June 30, 2018.

(11)

The grouping contains non-income producing securities.

(12)

Represents securities purchased with cash collateral received for securities on loan.

(13)

Rate shown is the 7-day yield as of June 30, 2018.

BRL

Brazilian Real

CLP

Chilean Peso

IDR

Indonesian Rupiah

MXN

Mexican Peso

PEN

Peruvian Nuevo Sol

PLN

Polish Zloty

RON

Romanian New Leu

RUB

Russian Ruble

Reference Rate Abbreviations:

12MTA

12-month Treasury Average

COF 11

11th District Costs of Funds

H15T1Y

U.S. Treasury 1-Year Constant Maturity

PRIME

Federal Reserve Bank Prime Loan Rate

US0001M

1-month LIBOR

US0003M

3-month LIBOR

US0006M

6-month LIBOR

US0012M

12-month LIBOR

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Mutual Funds		$	693,449,627		$	—		$	—		$	693,449,627
Preferred Stock			2,072,805			—			—			2,072,805
Corporate Bonds/Notes			—			1,005,557,610			—			1,005,557,610
Collateralized Mortgage Obligations			—			541,009,847			—			541,009,847

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at June 30, 2018
Municipal Bonds			—			2,079,219			—			2,079,219
Foreign Government Bonds			—			52,858,504			—			52,858,504
U.S. Treasury Obligations			—			253,547,560			—			253,547,560
Asset-Backed Securities			—			437,848,953			—			437,848,953
U.S. Government Agency Obligations			—			799,336,495			—			799,336,495
Commercial Mortgage-Backed Securities			—			178,246,753			—			178,246,753
Short-Term Investments			14,300,000			223,621,798			—			237,921,798
Total Investments, at fair value		$	719,634,786		$	3,484,294,385		$	—		$	4,203,929,171
Other Financial Instruments+
Centrally Cleared Swaps			—			13,633,972			—			13,633,972
Forward Foreign Currency Contracts			—			6,500,649			—			6,500,649
Forward Premium Swaptions			—			606,094			—			606,094
Futures			2,807,424			—			—			2,807,424
Total Assets		$	722,442,210		$	3,505,035,100		$	–		$	4,227,477,310
Liabilities Table
Other Financial Instruments+
Centrally Cleared Swaps		$	—		$	(14,893,476)		$	—		$	(14,893,476)
Forward Foreign Currency Contracts			—			(1,310,907)			—			(1,310,907)
Futures			(2,113,863)			—			—			(2,113,863)
Total Liabilities		$	(2,113,863)		$	(16,204,383)		$	—		$	(18,318,246)

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

Transactions with Affiliates

An investment of at least 5% of the voting securities of an issuer, or a company which is under common control results in that issuer becoming an affiliated person as defined by the 1940 Act.

The following table provides transactions during the period ended June 30, 2018, where the following issuers were considered an affiliate:

Issuer	Beginning Fair Value at 12/31/17			Purchases at Cost			Sales at Cost			Change in Unrealized Appreciation/ (Depreciation)			Ending Fair Value at 6/30/2018			Investment Income			Realized Gains/ (Losses)			Net Capital Gain Distributions
Voya Emerging Markets Corporate Debt Fund - Class P		$	90,929,629		$	2,289,048		$	—		$	(5,286,499)		$	87,932,178		$	2,289,048		$	—		$	—
Voya Emerging Markets Hard Currency Debt Fund - Class P			140,636,301			3,409,710			—			(10,900,660)			133,145,351			3,409,710			—			—
Voya Emerging Markets Local Currency Debt Fund - Class P			67,807,597			1,584,912			—			(6,415,044)			62,977,465			1,584,912			—			—
Voya Floating Rate Fund Class P			23,828,877			536,963			—			(35,938)			24,329,902			542,798			—			—
Voya High Yield Bond Fund - Class P			126,260,947			3,460,947			(15,414,648)			(2,979,956)			111,327,290			3,460,947			(414,649)			—
Voya Investment Grade Credit Fund Class P			141,136,923			2,610,723			—			(7,644,235)			136,103,411			2,609,242			—			—
Voya Securitized Credit Fund Class P			135,179,121			3,502,123			—			(1,047,214)			137,634,030			3,501,799			—			—
		$	725,779,395		$	17,394,426		$	(15,414,648)		$	(34,309,546)		$	693,449,627		$	17,398,456		$	(414,649)		$	—

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At June 30, 2018, the following forward foreign currency contracts were outstanding for Voya Intermediate Bond Portfolio:

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD 779,000

THB 24,177,589

Barclays Bank PLC

07/13/18

49,035

IDR 32,169,248,000

USD 2,272,000

Barclays Bank PLC

07/13/18

(28,388)

USD 3,596,385

IDR 50,194,746,125

Barclays Bank PLC

07/13/18

95,603

USD 1,505,295

MYR 6,097,198

Barclays Bank PLC

07/13/18

(4,037)

USD 1,505,295

MYR 6,094,188

Barclays Bank PLC

07/13/18

(3,292)

MYR 14,795,150

USD 3,786,831

Barclays Bank PLC

07/13/18

(124,363)

USD 582,728

PHP 30,666,070

Barclays Bank PLC

07/13/18

8,546

USD 779,000

MYR 3,041,606

Barclays Bank PLC

07/13/18

26,065

MXN 1,595,907

USD 77,856

Barclays Bank PLC

08/10/18

2,007

PLN 4,202

USD 1,179

Barclays Bank PLC

08/10/18

(57)

USD 6,461,507

BRL 23,962,368

Barclays Bank PLC

08/10/18

306,462

USD 6,128,260

ZAR 74,984,710

Barclays Bank PLC

08/10/18

689,351

USD 4,343,507

CLP 2,755,868,188

Barclays Bank PLC

08/10/18

125,372

USD 6,460,793

BRL 23,962,368

Barclays Bank PLC

08/10/18

305,747

HUF 1,340,917,453

USD 4,951,000

Barclays Bank PLC

08/10/18

(184,419)

USD 6,243,706

IDR 86,450,357,094

BNP Paribas

07/13/18

214,313

USD 5,679,000

BRL 20,948,014

BNP Paribas

08/10/18

298,231

USD 4,672,000

IDR 64,828,672,000

Citibank N.A.

07/13/18

150,589

USD 4,541,128

THB 142,019,697

Citibank N.A.

07/13/18

253,298

USD 1,894,000

HUF 513,568,138

Citibank N.A.

08/10/18

68,411

HUF 1,331,407,198

USD 4,937,000

Citibank N.A.

08/10/18

(204,225)

USD 4,607,916

COP 13,337,290,638

Citibank N.A.

08/10/18

65,408

USD 379,000

CZK 8,185,600

Citibank N.A.

08/10/18

10,131

USD 3,061,000

CZK 65,967,580

Citibank N.A.

08/10/18

88,290

USD 2,699,500

CZK 56,119,393

Citibank N.A.

08/10/18

170,581

RON 404,300

USD 103,938

Citibank N.A.

08/10/18

(2,880)

CZK 89,346,159

USD 4,225,000

Citibank N.A.

08/10/18

(198,776)

USD 2,699,500

CZK 56,074,392

Citibank N.A.

08/10/18

172,608

IDR 2,842,655,917

USD 199,990

Goldman Sachs International

07/13/18

(1,732)

USD 1,513,000

PHP 80,754,862

Goldman Sachs International

07/13/18

971

USD 5,157,522

MYR 20,214,909

Goldman Sachs International

07/13/18

153,419

USD 1,894,000

BRL 7,023,710

Goldman Sachs International

08/10/18

89,869

USD 3,776,000

PLN 13,823,107

Goldman Sachs International

08/10/18

83,540

BRL 15,594,276

USD 3,988,000

Goldman Sachs International

08/10/18

17,592

CZK 89,278,588

USD 4,217,000

Goldman Sachs International

08/10/18

(193,821)

RUB 22,306,471

USD 347,733

Goldman Sachs International

08/10/18

5,962

USD 385,000

RUB 24,060,321

Goldman Sachs International

08/10/18

3,495

BRL 15,317,110

USD 3,988,000

Goldman Sachs International

08/10/18

(53,601)

USD 3,689,416

RUB 231,478,914

Goldman Sachs International

08/10/18

19,043

USD 3,689,220

RUB 231,478,914

Goldman Sachs International

08/10/18

18,848

USD 3,527,546

HUF 884,306,740

Goldman Sachs International

08/10/18

384,087

USD 3,689,281

RUB 231,478,914

Goldman Sachs International

08/10/18

18,908

USD 3,400,000

PLN 12,578,182

Goldman Sachs International

08/10/18

40,087

CLP 236,762,812

USD 379,000

Goldman Sachs International

08/10/18

(16,611)

USD 3,689,954

RUB 231,478,914

Goldman Sachs International

08/10/18

19,581

USD 115,786

CZK 2,364,179

HSBC Bank USA N.A.

08/10/18

9,248

USD 11,897,902

PLN 40,232,278

HSBC Bank USA N.A.

08/10/18

1,150,964

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized
Appreciation
(Depreciation)

USD 8,462,115

MXN 170,347,793

HSBC Bank USA N.A.

08/10/18

(62,465)

USD 4,969,391

RON 18,659,223

HSBC Bank USA N.A.

08/10/18

305,346

USD 3,698,060

PEN 12,125,661

HSBC Bank USA N.A.

08/10/18

11,402

USD 4,225,149

TRY 17,920,311

HSBC Bank USA N.A.

08/10/18

388,620

USD 6,472,467

BRL 23,962,368

HSBC Bank USA N.A.

08/10/18

317,422

USD 7,583,000

HUF 2,031,330,628

JPMorgan Chase Bank N.A.

08/10/18

362,197

CZK 88,866,009

USD 4,203,000

JPMorgan Chase Bank N.A.

08/10/18

(198,413)

SGD 1,301,141

USD 988,977

Morgan Stanley

07/13/18

(33,827)

5,189,742

At June 30, 2018, the following futures contracts were outstanding for Voya Intermediate Bond Portfolio:

Description	Number of Contracts		Expiration Date		Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
U.S. Treasury 10-Year Note		1,546		09/19/18		$	185,809,875		$	964,288
U.S. Treasury 2-Year Note		1,065		09/28/18			225,596,954			(85,174)
U.S. Treasury 5-Year Note		1,109		09/28/18			126,001,461			(200,941)
U.S. Treasury Ultra Long Bond		621		09/19/18			99,088,312			(260,407)
						$	636,496,602		$	417,766
Short Contracts:
Euro-Bobl 5-Year		(1,266)		09/06/18			(195,404,958)			(1,567,341)
U.S. Treasury Long Bond		(2)		09/19/18			(290,000)			824
U.S. Treasury Ultra 10-Year Note		(2,816)		09/19/18			(361,108,000)			1,842,312
						$	(556,802,958)		$	275,795

At June 30, 2018, the following centrally cleared credit default swaps were outstanding for Voya Intermediate Bond Portfolio:

Centrally Cleared Credit Default Swaps on Credit Indices — Buy Protection(1)

Reference Entity/Obligation	Buy/Sell Protection	(Pay)/Receive Financing Rate (%)(2)		Termination Date	Notional Amount(3)		Fair Value(4)			Unrealized Appreciation/ (Depreciation)
CDX North American High Yield Index, Series 30, Version 1	Buy		5.000	06/20/23		USD 53,000,000		$	(3,045,062)		$	59,148
								$	(3,045,062)		$	59,148

(1)

If a Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Portfolio will either i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(2)

Payments made quarterly.

(3)

The maximum amount of future payments (undiscounted) that a Portfolio as seller of protection could be required to make or receive as a buyer of credit protection under a credit default swap agreement would be an amount equal to the notional amount of the agreement.

(4)

The fair values for credit default swap agreements serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. Increasing fair values, in absolute terms, when compared to the notional amount of the agreement, represent a deterioration of the referenced obligation’s credit soundness and a greater likelihood or risk of default or other credit event occurring.

At June 30, 2018, the following centrally cleared interest rate swaps were outstanding for Voya Intermediate Bond Portfolio:

Pay/Receive
Floating Rate

Floating
Rate Index

Floating Rate
Index
Payment
Frequency

Fixed
Rate

Fixed Rate
Payment
Frequency

Maturity
Date

Notional
Amount

Fair
Value

Unrealized
Appreciation/
(Depreciation)

Pay

3-month USD-LIBOR

Quarterly

1.460%

Semi-Annual

10/13/20

USD 225,664,000

(6,812,508)

Pay

3-month USD-LIBOR

Quarterly

2.372

Semi-Annual

10/13/30

USD 50,908,000

(3,288,714)

Pay

3-month USD-LIBOR

Quarterly

2.510

Semi-Annual

10/13/35

USD 29,003,000

(2,002,924)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

Pay/Receive
Floating Rate

Floating
Rate Index

Floating Rate
Index
Payment
Frequency

Fixed
Rate

Fixed Rate
Payment
Frequency

Maturity
Date

Notional
Amount

Fair
Value

Unrealized
Appreciation/
(Depreciation)

Pay

3-month USD-LIBOR

Quarterly

2.593

Semi-Annual

10/13/40

USD 40,443,000

(2,789,330)

Receive

3-month USD-LIBOR

Quarterly

1.668

Semi-Annual

10/30/19

USD 444,148,000

5,945,033

Receive

3-month USD-LIBOR

Quarterly

1.780

Semi-Annual

10/13/22

USD 112,415,000

5,057,748

Receive

3-month USD-LIBOR

Quarterly

2.619

Semi-Annual

10/13/45

USD 35,916,000

2,572,043

(1,318,652)

At June 30, 2018, the following over-the-counter forward premium swaptions were outstanding for Voya Intermediate Bond Portfolio:

Description

Counterparty

Exercise
Rate

Pay/
Receive
Exercise
Rate

Floating
Rate
Index

Expiration
Date

Notional
Amount

Premium
receivable/
(payable)
at expiration

Unrealized
Appreciation/
(Depreciation)

Call on 5-year Interest Rate Swap (Purchased)

Bank of America
N.A.

0.000%

Receive

3-month
USD-LIBOR

02/20/19

USD 88,010,000

(4,708,535)

94,761

Call on 5-Year Interest Rate Swap (Purchased)

Barclays Bank
PLC

0.000%

Receive

3-month
USD-LIBOR

04/25/19

USD 125,038,000

(6,611,384)

206,981

Call on 5-Year Interest Rate Swap (Purchased)

Morgan Stanley
Capital Services
LLC

0.000%

Receive

3-month
USD-LIBOR

02/13/19

USD 88,010,000

(4,770,190)

32,026

Call on 5-Year Interest Rate Swap (Purchased)

Morgan Stanley
Capital Services
LLC

0.000%

Receive

3-month
USD-LIBOR

03/06/19

USD 88,010,000

(4,715,136)

86,624

Call on 5-Year Interest Rate Swap (Purchased)

Morgan Stanley
Capital Services
LLC

0.000%

Receive

3-month
USD-LIBOR

04/25/19

USD 138,992,000

(7,394,374)

185,702

(28,199,619)

606,094

Currency Abbreviations

BRL – Brazilian Real
CLP – Chilean Peso
COP – Colombian Peso
CZK – Czech Koruna
HUF – Hungarian Forint
IDR – Indonesian Rupiah
MXN – Mexican Peso
MYR – Malaysian Ringgit
PEN – Peruvian Nuevo Sol
PHP – Philippine Peso
PLN – Polish Zloty
RON – Romanian New Leu
RUB – Russian Ruble
SGD – Singapore Dollar
THB – Thai Baht
TRY – Turkish Lira
USD – United States Dollar
ZAR – South African Rand

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

The fair value of derivative instruments as of June 30, 2018 was as follows:

Derivatives not accounted for as hedging instruments	Location on Statement of Assets and Liabilities	Fair Value
Asset Derivatives
Foreign exchange contracts	Unrealized appreciation on forward foreign currency contracts		$	6,500,649
Interest rate contracts	Net Assets — Unrealized appreciation*			2,807,424
Credit contracts	Net Assets — Unrealized appreciation**			59,148
Interest rate contracts	Net Assets — Unrealized appreciation**			13,574,824
Interest rate contracts	Net Assets — Unrealized appreciation***			606,094
Total Asset Derivatives			$	23,548,139
Liability Derivatives
Foreign exchange contracts	Unrealized depreciation on forward foreign currency contracts		$	1,310,907
Interest rate contracts	Net Assets — Unrealized depreciation*			2,113,863
Interest rate contracts	Net Assets — Unrealized depreciation**			14,893,476
Total Liability Derivatives			$	18,318,246

Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments.

***

Includes cumulative appreciation/depreciation of forward premium swaptions as reported in the following the Portfolio of Investments.

The effect of derivative instruments on the Portfolio’s Statement of Operations for the period ended June 30, 2018 was as follows:

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Forward foreign currency contracts**			Futures			Swaps			Total
Credit contracts		$	—		$	—		$	2,606,172		$	2,606,172
Equity contracts			—			(179,129)			—			(179,129)
Foreign exchange contracts			2,227,447			—			—			2,227,447
Interest rate contracts			—			(6,421,358)			100,662			(6,320,696)
Total		$	2,227,447		$	(6,600,487)		$	2,706,834		$	(1,666,206)

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

Derivatives not accounted for as hedging instruments	Investments*			Forward foreign currency contracts**			Futures			Swaps			Total
Credit contracts		$	—		$	—		$	—		$	29,190		$	29,190
Equity contracts			—			—			—			—			—
Foreign exchange contracts			—			5,910,378			—			—			5,910,378
Interest rate contracts			606,094			—			969,923			(1,523,930)			52,087
Total		$	606,094		$	5,910,378		$	969,923		$	(1,494,740)		$	5,991,655

Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments.

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Intermediate Bond Portfolio

as of June 30, 2018 (Unaudited) (continued)

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at June 30, 2018:

	Bank of America N.A.			Barclays Bank PLC			BNP Paribas			Citibank N.A.			Goldman Sachs International			HSBC Bank USA N.A.			JPMorgan Chase Bank N.A.			Morgan Stanley			Morgan Stanley Capital Services LLC			Totals
Assets:
Forward foreign currency contracts		$	—		$	1,608,188		$	512,544		$	979,316		$	855,402		$	2,183,002		$	362,197		$	—		$	—		$	6,500,649
Forward premium swaptions			94,761			206,981			—			—			—			—			—			—			304,352			606,094
Total Assets		$	94,761		$	1,815,169		$	512,544		$	979,316		$	855,402		$	2,183,002		$	362,197		$	—		$	304,352		$	7,106,743
Liabilities:
Forward foreign currency contracts		$	—		$	344,556		$	—		$	405,881		$	265,765		$	62,465		$	198,413		$	33,827		$	—		$	1,310,907
Total Liabilities		$	—		$	344,556		$	—		$	405,881		$	265,765		$	62,465		$	198,413		$	33,827		$	—		$	1,310,907
Net OTC derivative instruments by counterparty, at fair value		$	94,761		$	1,470,613		$	512,544		$	573,435		$	589,637		$	2,120,537		$	163,784		$	(33,827)		$	304,352			5,795,836
Total collateral pledged by the Portfolio/(Received from counterparty)		$	—		$	(1,100,000)		$	(260,000)		$	(407,000)		$	—		$	(1,970,000)		$	—		$	—		$	(304,352)		$	(4,041,352)
Net Exposure(1)(2)		$	94,761		$	370,613		$	252,544		$	166,435		$	589,637		$	150,537		$	163,784		$	(33,827)		$	—		$	1,754,484

(1)

(2)

At June 30, 2018, the Portfolio had received $370,000 in cash collateral from Morgan Stanley Capital Services LLC. Excess cash collateral is not shown for financial reporting purposes.

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $4,286,145,090.

Net unrealized depreciation consisted of:

Gross Unrealized Appreciation	$	57,172,429
Gross Unrealized Depreciation		(136,657,752)
Net Unrealized Depreciation	$	(79,485,323)

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Small Company Portfolio

as of June 30, 2018 (Unaudited)

	Sector Diversification as of June 30, 2018 (as a percentage of net assets)

	Financials			19.8%
	Industrials			16.3%
	Information Technology			15.3%
	Health Care			12.9%
	Consumer Discretionary			12.2%
	Real Estate			6.4%
	Energy			4.2%
	Materials			4.1%
	Utilities			3.1%
	Consumer Staples			1.7%
	Exchange-Traded Funds			1.1%
	Telecommunication Services			0.9%
	Assets in Excess of Other Liabilities*			2.0%
	Net Assets			100.0%
	* Includes short-term investments.
	Portfolio holdings are subject to change daily.

Shares				Value			Percentage of Net Assets
COMMON STOCK: 96.9%
			Consumer Discretionary: 12.2%
	56,054		Childrens Place, Inc./The		$	6,771,323		1.0
	295,637		Extended Stay America, Inc.			6,388,716		1.0
	62,214 (1)		Helen of Troy Ltd.			6,124,968		0.9
	75,883		Jack in the Box, Inc.			6,459,161		1.0
	59,245		Marriott Vacations Worldwide Corp.			6,692,315		1.0
	381,287	(1)(2)	Party City Holdco, Inc.			5,814,627		0.9
	206,142 (2)		Red Rock Resorts, Inc.			6,905,757		1.0
	1,117,423	(3)(4)	Other Securities			35,545,370		5.4
						80,702,237		12.2
			Consumer Staples: 1.7%
	162,449 (1)		Performance Food Group Co.			5,961,878		0.9
	404,365 (4)		Other Securities			5,499,364		0.8
						11,461,242		1.7
			Energy: 4.2%
	225,244	(1)(2)	Carrizo Oil & Gas, Inc.			6,273,045		1.0
	236,917 (1)		Unit Corp.			6,055,599		0.9
	1,197,894 (4)		Other Securities			15,353,012		2.3
						27,681,656		4.2
			Financials: 19.8%
	199,271		Cadence BanCorp			5,752,954		0.9
	193,170		CenterState Bank Corp.			5,760,330		0.9
	135,441		Chemical Financial Corp.			7,540,001		1.1
	162,378		Great Western Bancorp, Inc.			6,818,252		1.0
	142,395		Houlihan Lokey, Inc.			7,293,472		1.1

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Financials (continued)
	92,234		Independent Bank Group, Inc.		$	6,161,231		0.9
	189,747 (1)		Seacoast Banking Corp. of Florida			5,992,210		0.9
	112,697		Selective Insurance Group			6,198,335		0.9
	111,041		Stifel Financial Corp.			5,801,892		0.9
	109,274		WSFS Financial Corp.			5,824,304		0.9
	2,327,978 (4)		Other Securities			68,449,923		10.3
						131,592,904		19.8
			Health Care: 12.9%
	99,283 (1)		AMN Healthcare Services, Inc.			5,817,984		0.9
	2,097,174	(3)(4)	Other Securities			79,973,503		12.0
						85,791,487		12.9
			Industrials: 16.3%
	202,474		ABM Industries, Inc.			5,908,191		0.9
	202,272		Actuant Corp.			5,936,683		0.9
	89,564 (1)		Atlas Air Worldwide Holdings, Inc.			6,421,739		1.0
	93,492		EMCOR Group, Inc.			7,122,221		1.1
	108,115		Granite Construction, Inc.			6,017,681		0.9
	151,169 (2)		Healthcare Services Group, Inc.			6,528,989		1.0
	674,238		Pitney Bowes, Inc.			5,778,220		0.9
	120,726		Tetra Tech, Inc.			7,062,471		1.0
	174,789		Universal Forest Products, Inc.			6,400,773		1.0
	79,687		Watts Water Technologies, Inc.			6,247,461		0.9
	89,163		Woodward, Inc.			6,853,068		1.0
	674,285	(3)(4)	Other Securities			38,069,337		5.7
						108,346,834		16.3
			Information Technology: 15.3%
	332,556 (1)		8x8, Inc.			6,667,748		1.0
	295,546 (1)		ACI Worldwide, Inc.			7,291,120		1.1
	37,638 (1)		CACI International, Inc.			6,343,885		0.9
	83,614		j2 Global, Inc.			7,241,808		1.1
	201,723 (1)		Netscout Systems, Inc.			5,991,173		0.9
	107,326 (1)		Plexus Corp.			6,390,190		1.0
	1,670,774	(3)(4)	Other Securities			61,641,274		9.3
						101,567,198		15.3
			Materials: 4.1%
	106,398		Carpenter Technology Corp.			5,593,343		0.8
	136,480		PolyOne Corp.			5,898,666		0.9
	444,022		Other Securities			15,782,264		2.4
						27,274,273		4.1
			Real Estate: 6.4%
	302,106		Americold Realty Trust			6,652,374		1.0
	715,319		Cousins Properties, Inc.			6,931,441		1.0

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Small Company Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares			Value			Percentage of Net Assets
COMMON STOCK: (continued)
		Real Estate (continued)
	345,402	Easterly Government Properties, Inc.		$	6,825,144		1.0
	188,627	First Industrial Realty Trust, Inc.			6,288,824		1.0
	169,178	Hudson Pacific Properties, Inc.			5,993,977		0.9
	251,728	Urban Edge Properties			5,757,019		0.9
	125,918	Other Securities			3,661,695		0.6
					42,110,474		6.4
		Telecommunication Services: 0.9%
	447,442 (1)	Vonage Holdings Corp.			5,767,527		0.9
		Utilities: 3.1%
	91,669 (2)	Black Hills Corp.			5,611,059		0.9
	61,299	Idacorp, Inc.			5,654,220		0.9
	184,788	Other Securities			8,925,022		1.3
					20,190,301		3.1
		Total Common Stock (Cost $580,441,248)			642,486,133		96.9
EXCHANGE-TRADED FUNDS: 1.1%
	44,904	iShares Russell 2000 ETF			7,353,928		1.1
		Total Exchange-Traded Funds (Cost $6,021,380)			7,353,928		1.1
		Total Long-Term Investments (Cost $586,462,628)			649,840,061		98.0

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 7.8%
		Securities Lending Collateral(5): 4.8%
	7,556,350	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $7,557,592, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $7,707,477, due 07/05/18-09/09/49)		7,556,350		1.2
	7,556,350	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $7,557,766, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $7,707,478, due 11/15/42-08/15/44)		7,556,350		1.1

Principal Amount†			Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral(5) (continued)
	1,589,106	MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $1,589,383, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $1,620,888, due 02/01/21-10/15/58)		$	1,589,106		0.3
	7,556,350	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $7,557,561, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $7,707,499, due 01/31/20-09/09/49)			7,556,350		1.1
	7,556,350	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $7,557,778, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $7,707,533, due 07/15/ 19-02/15/48)			7,556,350		1.1
					31,814,506		4.8

Shares			Value		Percentage of Net Assets
		Mutual Funds: 3.0%
	20,066,000 (6)	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810% (Cost $20,066,000)		20,066,000		3.0
		Total Short-Term Investments (Cost $51,880,506)		51,880,506		7.8

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

SUMMARY PORTFOLIO OF INVESTMENTS

Voya Small Company Portfolio

as of June 30, 2018 (Unaudited) (continued)

Shares		Value			Percentage of Net Assets
	Total Investments in Securities (Cost $638,343,134)		$	701,720,567		105.8
	Liabilities in Excess of Other Assets			(38,362,519)		(5.8)
	Net Assets		$	663,358,048		100.0

The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.

†

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)

The grouping contains securities on loan.

(4)

The grouping contains non-income producing securities.

(5)

Represents securities purchased with cash collateral received for securities on loan.

(6)

Rate shown is the 7-day yield as of June 30, 2018.

Fair Value Measurements^

The following is a summary of the fair valuations according to the inputs used as of June 30, 2018 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 June 30, 2018
Asset Table
Investments, at fair value
Common Stock*		$	642,486,133		$	—		$	—		$	642,486,133
Exchange-Traded Funds			7,353,928			—			—			7,353,928
Short-Term Investments			20,066,000			31,814,506			—			51,880,506
Total Investments, at fair value		$	669,906,061		$	31,814,506		$	—		$	701,720,567

See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information.

For further breakdown of Common Stock by sector, please refer to the Portfolio of Investments.

At June 30, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

Cost for federal income tax purposes was $642,542,512.

Net unrealized appreciation consisted of:

Gross Unrealized Appreciation	$	84,666,633
Gross Unrealized Depreciation		(25,488,578)
Net Unrealized Appreciation	$	59,178,055

See Accompanying Notes to Financial Statements

TABLE OF CONTENTS

Investment Adviser
Voya Investments, LLC
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Scottsdale, Arizona 85258

Distributor
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7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258

Transfer Agent
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301 Bellevue Parkway
Wilmington, Delaware 19809

Custodian
The Bank of New York Mellon
225 Liberty Street
New York, New York 10286

Legal Counsel
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02199

RETIREMENT | INVESTMENTS | INSURANCE

voyainvestments.com

VPSAR-CAPAPALL (0618-082318)

Item 2. Code of Ethics.

Not required for semi-annual filing.

Item 3. Audit Committee Financial Expert.

Not required for semi-annual filing.

Item 4. Principal Accountant Fees and Services.

Not required for semi-annual filing.

Item 5. Audit Committee of Listed Registrants.

Not required for semi-annual filing.

Item 6. Schedule of Investments.

Complete schedule of investments, as applicable, is included as part of the report to shareholders filed under Item 1 of this Form and filed herein, as applicable.

Voya Australia Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.6%
			Consumer Discretionary: 4.8%
	14,604		APN Outdoor Group Ltd.		67,781		0.1
	6,020		ARB Corp. Ltd.		101,760		0.1
	36,594	⁽¹⁾	Ardent Leisure Group		53,335		0.0
	55,845		Aristocrat Leisure Ltd.		1,275,354		1.2
	22,892		Automotive Holdings Group Ltd.		48,194		0.0
	23,502	⁽¹⁾	Bapcor Ltd.		113,805		0.1
	7,953		Breville Group Ltd.		68,332		0.1
	7,101	⁽¹⁾	Corporate Travel Management Ltd.		143,265		0.1
	31,397		Crown Resorts Ltd.		313,274		0.3
	5,455	⁽¹⁾	Domino's Pizza Enterprises Ltd.		210,675		0.2
	201,555		Fairfax Media Ltd.		111,672		0.1
	5,049	⁽¹⁾	Flight Centre Travel Group Ltd.		237,677		0.2
	37,970	⁽¹⁾	G8 Education Ltd.		65,382		0.1
	10,181	⁽¹⁾	Greencross Ltd.		33,740		0.0
	7,473		GUD Holdings Ltd.		78,261		0.1
	52,384	⁽¹⁾	Harvey Norman Holdings Ltd.		128,693		0.1
	10,970		IDP Education Ltd.		85,324		0.1
	9,459		Invocare Ltd.		96,064		0.1
	9,812	⁽¹⁾	JB Hi-Fi Ltd.		163,042		0.2
	26,796		Navitas Ltd.		87,940		0.1
	5,575		News Corp.		86,880		0.1
	65,652		Nine Entertainment Co. Holdings Ltd.		120,388		0.1
	5,637	⁽²⁾	oOh!media Ltd.		20,650		0.0
	12,963		oOh!media Ltd.		47,446		0.0
	8,412		Premier Investments Ltd.		104,981		0.1
	78,269		Seven West Media Ltd.		48,580		0.0
	25,756		SKYCITY Entertainment Group Ltd.		70,475		0.1
	66,054		Southern Cross Media Group Ltd.		63,931		0.1
	72,068		Star Entertainment Grp Ltd.		262,507		0.2
	12,110		Super Retail Group Ltd.		72,540		0.1
	176,189		Tabcorp Holdings Ltd.		580,825		0.5
	21,502		Trade Me Ltd.		67,890		0.1
	9,929	⁽¹⁾	Webjet Ltd.		98,687		0.1
					5,129,350		4.8

			Consumer Staples: 8.0%
	63,661	⁽²⁾	a2 Milk Co. Ltd.		494,486		0.5
	16,221	⁽¹⁾	Bega Cheese Ltd.		88,767		0.1
	7,648	⁽²⁾	Bellamy's Australia Ltd.		87,781		0.1
	1,106		Blackmores Ltd.		116,354		0.1
	44,226		Coca-Cola Amatil Ltd.		300,810		0.3
	27,951		Costa Group Holdings Ltd.		170,309		0.2
	20,007		GrainCorp Ltd.		113,591		0.1
	21,331	⁽¹⁾	Inghams Group Ltd.		60,210		0.0
	84,879		Metcash Ltd.		163,709		0.1
	14,891		Tassal Group Ltd.		45,480		0.0
	62,993		Treasury Wine Estates Ltd.		809,336		0.7
	99,384		Wesfarmers Ltd.		3,626,155		3.4
	115,116		Woolworths Group Ltd		2,599,748		2.4
					8,676,736		8.0

			Energy: 5.7%
	152,494		Beach Energy Ltd.		197,385		0.2
	22,861		Caltex Australia Ltd.		550,167		0.5
	115,837		Oil Search Ltd.		761,044		0.7
	154,074	⁽²⁾	Origin Energy Ltd.		1,142,790		1.1
	154,420	⁽²⁾	Santos Ltd.		715,219		0.7
	10,250		Washington H Soul Pattinson & Co. Ltd.		156,704		0.1
	61,156		Whitehaven Coal Ltd.		261,059		0.2
	82,047		Woodside Petroleum Ltd.		2,150,164		2.0
	17,939		WorleyParsons Ltd.		231,716		0.2
					6,166,248		5.7

			Financials: 33.0%
	256,582		AMP Ltd.		674,863		0.6
	16,967		ASX Ltd.		808,779		0.8
	253,694		Australia & New Zealand Banking Group Ltd.		5,309,709		4.9
	34,825		Bank of Queensland Ltd.		262,210		0.2
	42,259		Bendigo and Adelaide Bank Ltd.		338,543		0.3
	50,285		Challenger Ltd.		440,057		0.4
	154,255		Commonwealth Bank of Australia		8,319,369		7.7
	4,099	⁽¹⁾	Credit Corp. Group Ltd.		54,793		0.1
	62,692		CYBG PLC		260,481		0.2
	27,514		Eclipx Group Ltd.		64,507		0.1
	19,935		Genworth Mortgage Insurance Australia Ltd.		37,897		0.0
	207,520		Insurance Australia Group Ltd.		1,309,182		1.2
	26,504		IOOF Holdings Ltd.		175,742		0.2
	7,504		Janus Henderson Group PLC		230,568		0.2
	27,739		Macquarie Group Ltd.		2,528,028		2.3
	12,217		Magellan Financial Group Ltd.		210,260		0.2
	241,396		Medibank Pvt Ltd.		521,230		0.5
	238,350		National Australia Bank Ltd.		4,839,605		4.5
	39,869		NIB Holdings Ltd./Australia		168,883		0.2
	21,774		Pendal Group Ltd.		159,306		0.2
	4,138		Perpetual Ltd.		127,374		0.1
	18,767	⁽¹⁾	Platinum Asset Management Ltd.		79,725		0.1
	119,641		QBE Insurance Group Ltd.		861,326		0.8
	67,984		Steadfast Group Ltd.		141,287		0.1
	113,600		Suncorp Group Ltd.		1,225,119		1.1
	300,067		Westpac Banking Corp.		6,516,546		6.0
					35,665,389		33.0

			Health Care: 8.4%
	12,565		Ansell Ltd.		252,442		0.2

See Accompanying Notes to Financial Statements

Voya Australia Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	34,656		Australian Pharmaceutical Industries Ltd.		43,560		0.0
	5,021		Cochlear Ltd.		743,368		0.7
	39,661		CSL Ltd.		5,645,472		5.2
	20,786		Estia Health Ltd.		50,573		0.1
	13,574		Fisher & Paykel Healthcare Corp. Ltd.		137,342		0.1
	151,823		Healthscope Ltd.		247,730		0.2
	120,315	^(1),(2)	Mayne Pharma Group Ltd.		77,395		0.1
	22,443	^(1),(2)	Nanosonics Ltd.		52,382		0.1
	36,400		Primary Health Care Ltd.		93,861		0.1
	11,301		Ramsay Health Care Ltd.		451,285		0.4
	44,510		ResMed, Inc.		463,242		0.4
	94,835		Sigma Healthcare Ltd.		56,917		0.1
	5,016		Sirtex Medical Ltd.		116,593		0.1
	37,216		Sonic Healthcare Ltd.		675,101		0.6
					9,107,263		8.4

			Industrials: 7.1%
	42,989		ALS Ltd.		239,659		0.2
	57,806		Atlas Arteria Ltd.		275,071		0.3
	174,440		Aurizon Holdings Ltd.		557,849		0.5
	139,209		Brambles Ltd.		913,945		0.8
	8,567		CIMIC Group Ltd.		267,807		0.3
	176,232		Cleanaway Waste Management Ltd.		220,308		0.2
	53,348		Downer EDI Ltd.		267,083		0.2
	23,771		GWA Group Ltd.		59,706		0.1
	12,086		IPH Ltd.		39,740		0.0
	6,778		McMillan Shakespeare Ltd.		80,373		0.1
	7,947		Monadelphous Group Ltd.		88,392		0.1
	149,567		Qantas Airways Ltd.		681,069		0.6
	119,473	⁽¹⁾	Qube Logistics Holdings Ltd.		212,778		0.2
	62,323	⁽¹⁾	Reliance Worldwide Corp. Ltd.		246,739		0.2
	30,736		Seek Ltd.		495,314		0.5
	9,516		Seven Group Holdings Ltd.		133,940		0.1
	7,870		SmartGroup Corp. Ltd.		67,958		0.1
	197,347		Sydney Airport		1,044,744		1.0
	194,473		Transurban Group - Stapled Security		1,722,120		1.6
	231,429	^(2),(3)	Virgin Australia International Holdings		–		–
					7,614,595		7.1

			Information Technology: 2.4%
	11,106	^(1),(2)	Afterpay Touch Group Ltd.		76,968		0.1
	9,723		Altium Ltd.		161,599		0.1
	7,790		Appen Ltd.		76,945		0.1
	21,111		carsales.com Ltd.		235,977		0.2
	43,884		Computershare Ltd.		597,808		0.5
	20,156		Domain Holdings Australia Ltd.		47,995		0.0
	11,992		IRESS Ltd.		106,890		0.1
	46,099		Link Administration Holdings Ltd.		249,866		0.2
	38,932		MYOB Group Ltd.		83,190		0.1
	30,075	⁽²⁾	NEXTDC Ltd.		167,833		0.2
	4,272		REA Group Ltd.		286,698		0.3
	19,781		Technology One Ltd.		62,168		0.1
	9,965	⁽¹⁾	WiseTech Global Ltd.		115,287		0.1
	9,344	⁽²⁾	Xero Ltd.		310,810		0.3
					2,580,034		2.4

			Materials: 18.5%
	35,339		Adelaide Brighton Ltd.		181,513		0.2
	204,251		Alumina Ltd.		422,674		0.4
	101,514		Amcor Ltd.		1,081,600		1.0
	31,744		Ausdrill Ltd.		43,079		0.0
	281,293		BHP Billiton Ltd.		7,038,519		6.5
	48,225		BlueScope Steel Ltd.		615,475		0.6
	102,756		Boral Ltd.		495,748		0.5
	6,692		Brickworks Ltd.		77,353		0.1
	45,237		CSR Ltd.		153,492		0.1
	33,404		DuluxGroup Ltd.		188,880		0.2
	125,148		Evolution Mining Ltd.		327,343		0.3
	24,511		Fletcher Building Ltd.		115,482		0.1
	149,128		Fortescue Metals Group Ltd.		484,215		0.4
	35,352	^(1),(2)	Galaxy Resources Ltd.		79,123		0.1
	36,681		Iluka Resources Ltd.		302,978		0.3
	146,873		Incitec Pivot Ltd.		394,058		0.4
	40,522		Independence Group NL		154,034		0.1
	38,864		James Hardie Industries SE		651,598		0.6
	58,074	⁽²⁾	Lynas Corp. Ltd.		100,217		0.1
	13,692		Mineral Resources Ltd.		162,107		0.1
	66,909		Newcrest Mining Ltd.		1,086,411		1.0
	52,610		Northern Star Resources Ltd.		284,815		0.3
	20,745		Nufarm Ltd.		135,967		0.1
	32,864		Orica Ltd.		431,453		0.4
	20,110	^(1),(2)	Orocobre Ltd.		76,910		0.1
	105,769		Orora Ltd.		279,359		0.3
	27,271		OZ Minerals Ltd.		190,164		0.2
	16,613		Pact Group Holdings Ltd.		64,779		0.1
	140,678	^(1),(2)	Pilbara Minerals Ltd.		89,910		0.1
	43,132		Regis Resources Ltd.		164,259		0.1
	64,184		Resolute Mining Ltd.		61,234		0.1
	36,149		Rio Tinto Ltd.		2,233,477		2.1
	13,670		Sandfire Resources NL		92,561		0.1
	65,196	⁽²⁾	Saracen Mineral Holdings Ltd.		106,511		0.1
	14,007		Sims Metal Management Ltd.		166,354		0.1
	450,412		South32 Ltd.		1,202,746		1.1
	44,991		St Barbara Ltd.		161,794		0.1
	26,071	^(1),(2)	Syrah Resources Ltd.		55,745		0.0
	23,016		Western Areas Ltd.		60,633		0.0
					20,014,570		18.5

			Real Estate: 7.5%
	28,252		Abacus Property Group		78,850		0.1
	37,148		Aveo Group		66,787		0.1
	42,372		BWP Trust		101,918		0.1
	40,574		Charter Hall Group		195,799		0.2
	28,888		Charter Hall Retail REIT		89,555		0.1
	14,855		Charter Hall Long Wale REIT		48,320		0.0
	138,957		Cromwell Property Group		115,088		0.1
	88,458		Dexus		635,815		0.6
	26,243		Gateway Lifestyle		45,269		0.0

See Accompanying Notes to Financial Statements

Voya Australia Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate: (continued)
	140,495		Goodman Group		1,001,565			0.9
	157,320		GPT Group		588,618			0.5
	22,028		Growthpoint Properties Australia Ltd.		58,799			0.1
	43,596		Investa Office Fund		168,666			0.2
	51,143		Lend Lease Corp., Ltd.		748,815			0.7
	324,763		Mirvac Group		521,248			0.5
	47,372		National Storage REIT		57,677			0.0
	466,689		Scentre Group		1,516,298			1.4
	63,240		Shopping Centres Australasia Property Group		114,704			0.1
	213,388		Stockland		626,976			0.6
	61,848	⁽²⁾	Unibail Group Stapled		671,455			0.6
	281,666		Vicinity Centres		540,185			0.5
	38,118		Viva Energy REIT		63,406			0.1
					8,055,813			7.5

			Telecommunication Services: 2.2%
	17,842		Chorus Ltd.		50,431			0.0
	20,082		SpeedCast International Ltd.		91,603			0.1
	21,401		Spark New Zealand Ltd.		54,141			0.0
	1,042,479		Telstra Corp., Ltd.		2,016,301			1.9
	29,825		TPG Telecom Ltd.		114,007			0.1
	54,128	^(1),(2)	Vocus Communications Ltd.		92,412			0.1
					2,418,895			2.2

			Utilities: 2.0%
	57,673		AGL Energy Ltd.		959,608			0.9
	103,420		APA Group		753,459			0.7
	152,386		AusNet Services		180,990			0.2
	84,303	⁽²⁾	Infigen Energy		41,170			0.0
	147,432		Spark Infrastructure Group		248,719			0.2
					2,183,946			2.0

		Total Common Stock
		(Cost $100,094,039)			107,612,839			99.6

RIGHTS: –%
			Consumer Discretionary: –%
	5,636	⁽²⁾	oOh!media Ltd.		–			–

			Industrials: –%
	20,935	⁽²⁾	Reliance Worldwide Corp. Ltd.		–			–

			Real Estate: –%
	72,917	^(2),(3)	Chapter Hall Units Contingent		–			–

		Total Rights
		(Cost $–)			–			–

		Total Long-Term Investments
		(Cost $100,094,039)			107,612,839			99.6

Principal Amount†				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.8%
			Securities Lending Collateral⁽⁴⁾: 1.8%
	1,978,593		Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $1,978,931, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $2,018,165, due 07/25/18-06/15/53)
			(Cost $1,978,593)		1,978,593			1.8

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.0%
	1,059,000	⁽⁵⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $1,059,000)		1,059,000			1.0

		Total Short-Term Investments
		(Cost $3,037,593)			3,037,593			2.8

		Total Investments in Securities (Cost $103,131,632)		$	110,650,432			102.4
		Liabilities in Excess of Other Assets			(2,592,447	)		(2.4	)
		Net Assets		$	108,057,985			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
(1)	Security, or a portion of the security, is on loan.
(2)	Non-income producing security.
(3)	For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.
(4)	Represents securities purchased with cash collateral received for securities on loan.
(5)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 94.2%
			Brazil: 3.7%
	746,400		Ambev SA		3,462,626		0.4
	63,600		Atacadao Distribuicao Comercio e Industria Ltd.		244,177		0.0
	327,869		B3 SA - Brasil Bolsa Balcao		1,737,581		0.2
	152,437		Banco Bradesco SA		951,809		0.1
	133,700		Banco do Brasil S.A.		981,427		0.1
	63,100		Banco Santander Brasil SA		476,211		0.1
	108,200		BB Seguridade Participacoes SA		686,763		0.1
	127,033		BR Malls Participacoes SA		319,242		0.0
	80,800	⁽¹⁾	BRF - Brasil Foods SA		375,048		0.0
	36,000	⁽¹⁾	Centrais Eletricas Brasileiras SA		114,435		0.0
	189,200		CCR SA		490,604		0.1
	53,200		Cia de Saneamento Basico do Estado de Sao Paulo		319,687		0.0
	99,900	⁽¹⁾	Cia Siderurgica Nacional S.A.		202,339		0.0
	188,356		Cielo SA		804,307		0.1
	27,200		Cosan SA Industria e Comercio		249,700		0.0
	47,549		EDP - Energias do Brasil S.A.		168,321		0.0
	103,000		Embraer SA		643,127		0.1
	28,300		Engie Brasil Energia SA		248,335		0.0
	27,400		Equatorial Energia SA		402,119		0.1
	38,400		Fibria Celulose SA		715,340		0.1
	54,900		Hypermarcas SA		390,104		0.1
	16,100		IRB Brasil Resseguros S/A		197,026		0.0
	144,900		JBS SA		343,954		0.0
	110,500		Klabin SA		556,527		0.1
	215,804		Kroton Educacional SA		520,613		0.1
	79,575		Localiza Rent a Car SA		485,570		0.1
	110,160		Lojas Renner SA		822,558		0.1
	16,400		M Dias Branco SA		157,029		0.0
	11,600		Magazine Luiza SA		381,604		0.0
	13,900		Multiplan Empreendimentos Imobiliarios SA		203,026		0.0
	28,900		Natura Cosmeticos S.A.		226,010		0.0
	42,600		Odontoprev SA		145,087		0.0
	56,000		Petrobras Distribuidora SA		261,524		0.0
	458,700		Petroleo Brasileiro SA		2,296,015		0.3
	16,500		Porto Seguro SA		172,248		0.0
	35,500		Raia Drogasil SA		600,040		0.1
	169,300	⁽¹⁾	Rumo SA		611,546		0.1
	34,886		Sul America SA		166,880		0.0
	68,500		Suzano Papel e Celulose SA		790,381		0.1
	131,700		Tim Participacoes SA		443,786		0.1
	55,800		Ultrapar Participacoes SA		660,832		0.1
	497,474		Vale SA		6,338,197		0.8
	132,654		Weg S.A.		551,392		0.1
					30,915,147		3.7

			Chile: 0.9%
	409,062		Aguas Andinas SA		223,439		0.0
	3,801,072		Banco de Chile		587,559		0.1
	6,533		Banco de Credito e Inversiones SA		434,787		0.0
	10,171,867		Banco Santander Chile		796,444		0.1
	217,527		Cencosud SA		537,663		0.1
	23,045		Cia Cervecerias Unidas SA		288,513		0.0
	1,229,241		Colbun SA		253,601		0.0
	23,498		Empresa Nacional de Telecomunicaciones SA		215,781		0.0
	194,835		Empresas CMPC SA		709,689		0.1
	60,883		Empresas COPEC SA		931,785		0.1
	4,423,492		Enel Americas SA		781,869		0.1
	4,437,255		Enel Chile SA		437,821		0.1
	23,607,904		Itau CorpBanca		230,553		0.0
	47,122		Latam Airlines Group SA		465,166		0.1
	116,322		SACI Falabella		1,066,026		0.1
					7,960,696		0.9

			China: 31.8%
	195,500	⁽²⁾	3SBio, Inc.		441,765		0.1
	3,795	⁽¹⁾	51job, Inc. ADR		370,544		0.0
	14,324	⁽¹⁾	58.com, Inc. ADR		993,226		0.1
	115,500		AAC Technologies Holdings, Inc.		1,621,995		0.2
	242,000		Agile Group Holdings, Ltd.		411,750		0.1
	4,644,000		Agricultural Bank of China Ltd. - H Shares		2,167,490		0.3
	98,300		Agricultural Bank of China Ltd. - A Shares		50,942		0.0
	286,000		Air China Ltd. - H Shares		274,962		0.0
	181,280	⁽¹⁾	Alibaba Group Holding Ltd. ADR		33,632,878		4.0
	532,000	⁽¹⁾	Alibaba Health Information Technology Ltd.		511,942		0.1
	2,120,000	^(1),(3)	Alibaba Pictures Group Ltd.		231,799		0.0
	618,000	⁽¹⁾	Aluminum Corp. of China Ltd. - H Shares		270,856		0.0
	162,000		Angang Steel Co., Ltd. - H Shares		145,554		0.0
	190,000		Anhui Conch Cement Co., Ltd. - H Shares		1,083,551		0.1
	6,600		Anhui Conch Cement Co., Ltd. - A Shares		33,227		0.0
	166,000		Anta Sports Products Ltd.		875,369		0.1
	9,304		Autohome, Inc. ADR		939,704		0.1
	367,000		AviChina Industry & Technology Co. Ltd. - H Shares		217,874		0.0
	266,500	⁽²⁾	BAIC Motor Corp. Ltd. - H Shares		253,653		0.0
	43,307	⁽¹⁾	Baidu, Inc. ADR		10,523,601		1.2
	35,300		Bank of Beijing Co. Ltd. - A Shares		32,144		0.0

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			China: (continued)
	12,559,000		Bank of China Ltd. - H Shares		6,228,320		0.8
	82,200		Bank of China Ltd. - A Shares		44,741		0.0
	1,358,000		Bank of Communications Co., Ltd. - H Shares		1,039,359		0.1
	65,600		Bank of Communications Co. Ltd. - A Shares		56,749		0.0
	13,000		Bank of Shanghai Co. Ltd. - A Shares		30,878		0.0
	31,000		Baoshan Iron & Steel Co. Ltd. - A Shares		36,354		0.0
	345,000		BBMG Corp. - H Shares		126,788		0.0
	264,000		Beijing Capital International Airport Co., Ltd. - H Shares		277,314		0.0
	77,000		Beijing Enterprises Holdings Ltd.		373,859		0.1
	850,000		Beijing Enterprises Water Group Ltd.		462,200		0.1
	56,600		BOE Technology Group Co. Ltd. - A Shares		30,148		0.0
	468,000		Brilliance China Automotive Holdings Ltd.		839,690		0.1
	101,500		Byd Co., Ltd. - H Shares		625,914		0.1
	3,000		BYD Co. Ltd. - A Shares		21,503		0.0
	109,000		BYD Electronic International Co. Ltd.		148,401		0.0
	123,000	⁽¹⁾	CAR, Inc. - H Shares		122,741		0.0
	1,716,000	⁽²⁾	CGN Power Co. Ltd. - H Shares		443,089		0.1
	266,000		China Agri-Industries Holdings Ltd. - H Shares		101,445		0.0
	1,442,000		China Cinda Asset Management Co. Ltd. - H Shares		461,794		0.1
	1,400,000		China CITIC Bank Corp. Ltd - H Shares		874,371		0.1
	293,000		China Coal Energy Co. - H Shares		120,923		0.0
	701,000		China Communications Construction Co., Ltd. - H Shares		675,095		0.1
	394,000		China Communications Services Corp., Ltd. - H Shares		248,977		0.0
	251,000		China Conch Venture Holdings Ltd.		916,084		0.1
	15,135,000		China Construction Bank - H Shares		13,849,152		1.7
	409,500	⁽¹⁾	China COSCO Holdings Co., Ltd. - H Shares		187,183		0.0
	214,000		China Eastern Airlines Corp. Ltd. - H Shares		144,357		0.0
	66,500		China Everbright Bank Co. Ltd. - A Shares		36,695		0.0
	440,000		China Everbright Bank Co. Ltd. - H Shares		188,771		0.0
	384,000		China Everbright International Ltd.		494,546		0.1
	146,000		China Everbright Ltd.		267,122		0.0
	410,000	^(1),(3)	China Evergrande Group		1,040,973		0.1
	486,000	⁽¹⁾	China First Capital Group Ltd.		310,265		0.0
	525,000		China Galaxy Securities Co. Ltd. - H Shares		268,398		0.0
	269,800		China Gas Holdings Ltd.		1,081,681		0.1
	1,513,000	⁽²⁾	China Huarong Asset Management Co. Ltd. - H Shares		436,158		0.1
	480,000	^(1),(4)	China Huishan Dairy Holdings Co. Ltd.		–		–
	157,200	⁽²⁾	China International Capital Corp. Ltd. - H Shares		278,684		0.0
	65,400		China International Marine Containers Group Co. Ltd. - H Shares		85,471		0.0
	3,112		China International Travel Service Corp. Ltd. - A Shares		30,185		0.0
	816,000		China Jinmao Holdings Group Ltd.		408,238		0.1
	1,195,000		China Life Insurance Co., Ltd. - H Shares		3,065,763		0.4
	27,400	^(1),(2)	China Literature Ltd. - H Shares		256,437		0.0
	517,000		China Longyuan Power Group Corp. Ltd. - H Shares		415,312		0.1
	220,000		China Medical System Holdings Ltd.		438,206		0.1
	431,000		China Mengniu Dairy Co., Ltd.		1,453,666		0.2
	606,380		China Merchants Bank Co., Ltd. - H Shares		2,230,515		0.3
	34,400		China Merchants Bank Co. Ltd. - A Shares		137,077		0.0
	204,938		China Merchants Port Holdings Co. Ltd		415,058		0.1
	9,500		China Merchants Securities Co. Ltd. - A Shares		19,592		0.0
	11,000		China Merchants Shekou Industrial Zone Holdings Co. Ltd. - A Shares		31,580		0.0
	973,100		China Minsheng Banking Corp. Ltd. - H Shares		695,368		0.1
	49,400		China Minsheng Banking Corp. Ltd. - A Shares		52,172		0.0
	973,000		China Mobile Ltd.		8,633,377		1.0
	609,000		China Molybdenum Co. Ltd. - H Shares		293,522		0.0
	604,000		China National Building Material Co., Ltd. - H Shares		594,491		0.1
	280,000		China Oilfield Services Ltd. - H Shares		263,708		0.0
	596,000		China Overseas Land & Investment Ltd.		1,956,192		0.2
	10,403		China Pacific Insurance Group Co. Ltd. - A Shares		49,839		0.0
	407,600		China Pacific Insurance Group Co., Ltd. - H Shares		1,570,079		0.2

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			China: (continued)
	4,033,600		China Petroleum & Chemical Corp. - H Shares		3,610,546		0.4
	42,600		China Petroleum & Chemical Corp. - A Shares		41,619		0.0
	610,000		China Power International Development Ltd. - H Shares		140,503		0.0
	332,000		China Railway Construction Corp. Ltd. - H Shares		335,845		0.1
	19,200		China Railway Construction Corp. Ltd. - A Shares		24,915		0.0
	638,000		China Railway Group Ltd. - H Shares		481,040		0.1
	214,000	⁽²⁾	China Railway Signal & Communication Corp. Ltd. - H Shares		151,510		0.0
	852,000		China Reinsurance Group Corp. - H Shares		186,480		0.0
	226,000		China Resources Beer Holdings Co Ltd.		1,094,395		0.1
	136,000		China Resources Gas Group Ltd.		587,955		0.1
	430,444		China Resources Land Ltd.		1,445,885		0.2
	268,000	⁽²⁾	China Resources Pharmaceutical Group Ltd.		370,551		0.1
	306,000		China Resources Power Holdings Co.		537,770		0.1
	380,000		China Resources Cement Holdings Ltd. - H Shares		382,427		0.1
	532,500		China Shenhua Energy Co., Ltd. - H Shares		1,259,494		0.2
	544,000	⁽¹⁾	China Shipping Container Lines Co., Ltd. - H Shares		90,584		0.0
	184,000		China Shipping Development Co., Ltd. - H Shares		88,454		0.0
	296,000		China Southern Airlines Co., Ltd. - H Shares		231,948		0.0
	70,140		China State Construction Engineering Corp. Ltd. - A Shares		57,672		0.0
	320,000		China State Construction International Holdings Ltd.		327,313		0.0
	249,628		China Taiping Insurance Holdings Co., Ltd.		776,110		0.1
	2,190,000		China Telecom Corp., Ltd. - H Shares		1,027,631		0.1
	344,000		China Traditional Chinese Medicine Holdings Co. Ltd.		296,847		0.0
	322,000		China Travel International Inv HK		125,208		0.0
	952,000		China Unicom Hong Kong Ltd.		1,186,654		0.2
	189,600		China Vanke Co. Ltd. - H Shares		661,227		0.1
	16,200		China Vanke Co. Ltd. - A Shares		60,076		0.0
	24,500		China Yangtze Power Co. Ltd. - A Shares		59,598		0.0
	246,400		China Zhongwang Holdings Ltd. - H Shares		130,156		0.0
	2,612,000	⁽¹⁾	Chong Sing Holdings FinTech Gr		302,671		0.0
	99,400		Chongqing Changan Automobile Co. Ltd.		100,444		0.0
	416,000		Chongqing Rural Commercial Bank Co. Ltd. - H Shares		246,915		0.0
	536,000		CIFI Holdings Group Co. Ltd.		339,530		0.1
	896,000		CITIC Ltd.		1,260,441		0.2
	358,500		CITIC Securities Co. Ltd. - H Shares		712,753		0.1
	16,400		CITIC Securities Co. Ltd. - A Shares		40,903		0.0
	2,829,000		CNOOC Ltd.		4,847,620		0.6
	260,000		COSCO Shipping Ports, Ltd.		216,251		0.0
	1,212,133		Country Garden Holdings Co. Ltd.		2,124,866		0.3
	668,000		CRRC Corp. Ltd. - H Shares		517,436		0.1
	33,900		CRRC Corp. Ltd. - A Shares		39,307		0.0
	742,000		CSPC Pharmaceutical Group Ltd.		2,228,079		0.3
	62,295	⁽¹⁾	Ctrip.com International Ltd. ADR		2,967,111		0.4
	303,000	⁽²⁾	Dali Foods Group Co. Ltd.		233,116		0.0
	24,800		Daqin Railway Co. Ltd. - A Shares		30,681		0.0
	448,000	⁽¹⁾	Datang International Power Generation Co., Ltd. - H Shares		136,690		0.0
	426,000		Dongfeng Motor Group Co., Ltd. - H Shares		449,010		0.1
	33,053	⁽¹⁾	Fang Holdings Ltd. ADR		128,246		0.0
	343,000		Far East Horizon Ltd.		332,122		0.1
	20,400		Focus Media Information Technology Co. Ltd. - A Shares		29,391		0.0
	3,700		Foshan Haitian Flavouring & Food Co. Ltd. - A Shares		41,041		0.0
	400,468		Fosun International Ltd		750,073		0.1
	1,095,000	⁽³⁾	Fullshare Holdings Ltd.		541,527		0.1
	270,000		Future Land Development Holdings Ltd. - H Shares		243,174		0.0
	80,400	⁽²⁾	Fuyao Glass Industry Group Co. Ltd. - H Shares		271,677		0.0
	2,035,000	⁽¹⁾	GCL Poly Energy Holdings Ltd.		191,100		0.0
	8,988	⁽¹⁾	GDS Holdings Ltd. ADR		360,329		0.0
	782,000		Geely Automobile Holdings Ltd.		2,012,002		0.2
	120,000		Genscript Biotech Corp. - H Shares		328,136		0.0
	227,400		GF Securities Co. Ltd. - H Shares		330,387		0.0

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			China: (continued)
	5,000		GF Securities Co. Ltd. - A Shares		9,995		0.0
	1,705,000	^(1),(3)	GOME Retail Holdings Ltd		173,579		0.0
	490,000	⁽³⁾	Great Wall Motor Co. Ltd. - H Shares		372,947		0.1
	5,000		Gree Electric Appliances, Inc. of Zhuhai - A Shares		35,462		0.0
	132,000		Greentown China Holdings Ltd. - H Shares		176,380		0.0
	456,000		Guangdong Investment Ltd.		721,682		0.1
	457,200		Guangzhou Automobile Group Co. Ltd. - H Shares		444,815		0.1
	152,400		Guangzhou R&F Properties Co., Ltd. - H Shares		305,860		0.0
	12,500		Guotai Junan Securities Co. Ltd. - A Shares		27,780		0.0
	89,200	⁽²⁾	Guotai Junan Securities Co. Ltd. - H Shares		189,032		0.0
	197,000		Haier Electronics Group Co. Ltd.		672,108		0.1
	101,000		Haitian International Holdings Ltd.		238,027		0.0
	521,200		Haitong Securities Co. Ltd. - H Shares		525,785		0.1
	6,800		Haitong Securities Co. Ltd. - A Shares		9,711		0.0
	1,908,000	^(1),(4)	Hanergy Thin Film Power Group Ltd.		–		–
	15,400		Hangzhou Hikvision Digital Technology Co. Ltd. - A Shares		86,072		0.0
	112,000		Hengan International Group Co., Ltd.		1,074,288		0.1
	3,540,000	⁽¹⁾	HengTen Networks Group Ltd. - H Shares		125,716		0.0
	258,000		Huadian Power International Co. - H Shares		101,807		0.0
	678,000		Huaneng Power International, Inc. - H Shares		448,022		0.1
	752,000		Huaneng Renewables Corp. Ltd.		249,260		0.0
	262,800	⁽²⁾	Huatai Securities Co. Ltd. - H Shares		416,770		0.1
	9,100		Huatai Securities Co. Ltd. - A Shares		20,533		0.0
	21,400		Huaxia Bank Co. Ltd. - A Shares		24,047		0.0
	20,564		Huazhu Group Ltd. ADR		863,482		0.1
	90,100		Industrial & Commercial Bank of China Ltd. - A Shares		72,245		0.0
	10,918,000		Industrial & Commercial Bank of China - H Shares		8,143,083		1.0
	34,700		Industrial Bank Co. Ltd. - A Shares		75,379		0.0
	10,100		Inner Mongolia Yili Industrial Group Co. Ltd. - A Shares		42,391		0.0
	156,400	⁽¹⁾	Inner Mongolia Yitai Coal Co.		212,620		0.0
	113,737	⁽¹⁾	JD.com, Inc. ADR		4,430,056		0.5
	190,000		Jiangsu Expressway Co. Ltd. - H Shares		226,249		0.0
	6,050		Jiangsu Hengrui Medicine Co. Ltd. - A Shares		69,053		0.0
	2,476		Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. - A Shares		48,985		0.0
	201,000		Jiangxi Copper Co., Ltd. - H Shares		255,224		0.0
	150,000		Jiayuan International Group Ltd.		259,930		0.0
	333,000		Kaisa Group Holdings Ltd. - H Shares		141,653		0.0
	8,300		Kangmei Pharmaceutical Co. Ltd. - A Shares		28,620		0.0
	104,500		Kingboard Chemicals Holdings		380,600		0.1
	161,500		Kingboard Laminates Holdings Ltd.		198,573		0.0
	304,000		Kingdee International Software Group Co., Ltd.		309,633		0.0
	130,000		Kingsoft Corp. Ltd.		392,356		0.1
	502,000		Kunlun Energy Co. Ltd.		438,420		0.1
	2,100		Kweichow Moutai Co. Ltd. - A Shares		231,173		0.0
	190,500		KWG Property Holding Ltd. - H Shares		237,945		0.0
	247,000		Lee & Man Paper Manufacturing Ltd.		249,193		0.0
	51,100	⁽²⁾	Legend Holdings Corp. - H Shares		155,378		0.0
	1,168,000		Lenovo Group Ltd.		628,689		0.1
	206,000		Logan Property Holdings Co. Ltd. - H Shares		277,603		0.0
	231,500		Longfor Properties Co., Ltd.		622,425		0.1
	177,000		Luye Pharma Group Ltd. - H Shares		180,852		0.0
	2,400		Luzhou Laojiao Co. Ltd. - A Shares		22,027		0.0
	261,500	^(1),(2)	Meitu, Inc.		227,404		0.0
	432,000		Metallurgical Corp. of China Ltd. - H Shares		127,288		0.0
	10,900		Midea Group Co. Ltd. - A Shares		85,624		0.0
	368,000	⁽¹⁾	Minmetals Resources Ltd.		256,194		0.0
	18,246	⁽¹⁾	Momo, Inc. ADR		793,701		0.1
	12,508		NetEase, Inc. ADR		3,160,396		0.4
	129,500		New China Life Insurance Co. Ltd. - H Shares		536,589		0.1
	3,400		New China Life Insurance Co. Ltd. - A Shares		21,939		0.0
	22,647		New Oriental Education & Technology Group, Inc. ADR		2,143,765		0.3
	146,000		Nexteer Automotive Group Ltd.		214,751		0.0
	255,000		Nine Dragons Paper Holdings Ltd.		323,546		0.0
	4,389	⁽¹⁾	Noah Holdings Ltd. ADR		228,886		0.0

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			China: (continued)
	1,126,000		Peoples Insurance Co. Group of China Ltd. - H Shares		527,112		0.1
	27,000		PetroChina Co. Ltd. - A Shares		31,380		0.0
	3,342,000		PetroChina Co., Ltd. - H Shares		2,545,985		0.3
	1,065,244		PICC Property & Casualty Co., Ltd. - H Shares		1,145,694		0.1
	28,700		Ping An Bank Co. Ltd. - A Shares		39,316		0.0
	813,500		Ping An Insurance Group Co. of China Ltd. - H Shares		7,449,768		0.9
	18,100		Ping An Insurance Group Co. of China Ltd. - A Shares		159,495		0.0
	19,800		Poly Real Estate Group Co. Ltd. - A Shares		36,343		0.0
	440,000	⁽²⁾	Postal Savings Bank of China Co. Ltd. - H Shares		285,631		0.0
	10,100		Qingdao Haier Co. Ltd. - A Shares		29,268		0.0
	13,000		SAIC Motor Corp. Ltd. - A Shares		68,484		0.0
	456,900	^(1),(3)	Semiconductor Manufacturing International Corp.		591,971		0.1
	300,000		Shandong Weigao Group Medical Polymer Co., Ltd. - H Shares		211,807		0.0
	442,000	⁽¹⁾	Shanghai Electric Group Co., Ltd. - H Shares		148,558		0.0
	77,000		Shanghai Fosun Pharmaceutical Group Co. Ltd. - H Shares		420,973		0.1
	78,000		Shanghai Industrial Holdings Ltd.		181,217		0.0
	144,061	⁽¹⁾	Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd.		206,297		0.0
	134,300		Shanghai Pharmaceuticals Holding Co. Ltd. - H Shares		369,633		0.1
	49,000		Shanghai Pudong Development Bank Co. Ltd. - A Shares		70,711		0.0
	136,500		Shenzhen International Holdings Ltd.		281,587		0.0
	416,000		Shenzhen Investment Ltd.		151,156		0.0
	116,000		Shenzhou International Group Holdings Ltd.		1,427,425		0.2
	186,000		Shimao Property Holdings Ltd.		484,939		0.1
	556,500		Shui On Land Ltd. - H Shares		140,727		0.0
	598,000		Sihuan Pharmaceutical Holdings Group Ltd.		132,803		0.0
	10,224	⁽¹⁾	Sina Corp.		865,871		0.1
	1,049,500		Sino Biopharmaceutical Ltd.		1,602,804		0.2
	478,000		Sino-Ocean Group Holding Ltd.		276,612		0.0
	196,500		Sinopec Engineering Group Co. Ltd. - H Shares		204,928		0.0
	584,000		Sinopec Shanghai Petrochemical Co. Ltd. - H Shares		355,023		0.1
	184,400		Sinopharm Group Co. - H Shares		741,539		0.1
	303,000		Sinotrans Ltd. - H Shares		159,307		0.0
	105,000		Sinotruk Hong Kong Ltd.		172,131		0.0
	276,000		Skyworth Digital Holdings Ltd. - H Shares		122,822		0.0
	330,000		Soho China Ltd.		156,540		0.0
	230,000		SSY Group Ltd.		254,657		0.0
	368,500		Sun Art Retail Group Ltd.		480,735		0.1
	380,000	⁽³⁾	Sunac China Holdings Ltd.		1,321,643		0.2
	15,500		Suning.com Co. Ltd. - A Shares		32,852		0.0
	112,400		Sunny Optical Technology Group Co. Ltd.		2,084,723		0.3
	52,232	⁽¹⁾	TAL Education Group ADR		1,922,138		0.2
	894,500		Tencent Holdings Ltd.		44,917,678		5.3
	304,000		Tingyi Cayman Islands Holding Corp.		705,211		0.1
	83,000		Tong Ren Tang Technologies Co. Ltd. - H Shares		131,663		0.0
	143,000		Towngas China Co. Ltd.		138,372		0.0
	148,000		Travelsky Technology Ltd. - H Shares		429,590		0.1
	58,000		Tsingtao Brewery Co., Ltd. - H Shares		317,786		0.0
	194,000		Uni-President China Holdings Ltd.		248,902		0.0
	67,452	⁽¹⁾	Vipshop Holdings Ltd. ADR		731,854		0.1
	769,000		Want Want China Holdings Ltd.		683,816		0.1
	7,199	^(1),(3)	Weibo Corp. ADR		638,983		0.1
	303,000		Weichai Power Co. Ltd. - H Shares		416,286		0.1
	6,300		Wuliangye Yibin Co. Ltd. - A Shares		71,965		0.0
	77,000	^(1),(2)	Wuxi Biologics Cayman, Inc. - H Shares		854,172		0.1
	118,000		ENN Energy Holdings Ltd.		1,155,621		0.1
	99,200		Xinjiang Goldwind Science & Technology Co. Ltd. - H Shares		120,286		0.0
	438,000		Xinyi Solar Holdings Ltd.		134,192		0.0
	294,000		Yanzhou Coal Mining Co., Ltd. - H Shares		382,846		0.1
	976,000		Yuexiu Property Co. Ltd. - H Shares		185,846		0.0
	58,058		Yum China Holdings, Inc.		2,232,911		0.3
	1,700		Yunnan Baiyao Group Co. Ltd. - A Shares		27,399		0.0
	252,000		Yuzhou Properties Co. Ltd. - H Shares		148,092		0.0
	7,260	⁽¹⁾	YY, Inc. ADR		729,412		0.1

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			China: (continued)
	155,500		Zhaojin Mining Industry Co. Ltd. - H Shares		118,954		0.0
	228,000		Zhejiang Expressway Co., Ltd. - H Shares		203,055		0.0
	24,600	^(1),(2)	ZhongAn Online P&C Insurance Co. Ltd. - H Shares		154,727		0.0
	84,500		Zhongsheng Group Holdings Ltd.		252,994		0.0
	85,400		Zhuzhou CSR Times Electric Co., Ltd. - H Shares		405,006		0.1
	908,000		Zijin Mining Group Co., Ltd. - H Shares		348,099		0.1
	120,640	⁽¹⁾	ZTE Corp. - H Shares		182,407		0.0
					267,919,166		31.8

			Colombia: 0.4%
	28,498		Bancolombia SA		339,326		0.1
	19,988		BanColombia SA ADR		955,027		0.1
	76,135		Cementos Argos SA		253,259		0.0
	767,561		Ecopetrol SA		786,926		0.1
	43,687		Grupo Argos SA/Colombia		295,117		0.0
	34,259		Grupo de Inversiones Suramericana SA		441,584		0.1
	64,904		Interconexion Electrica SA ESP		323,297		0.0
					3,394,536		0.4

			Czech Republic: 0.2%
	25,548	⁽³⁾	CEZ AS		605,315		0.1
	12,226		Komercni Banka AS		513,465		0.1
	73,437	⁽²⁾	Moneta Money Bank AS		251,964		0.0
	9,909		O2 Czech Republic AS		113,881		0.0
					1,484,625		0.2

			Egypt: 0.1%
	161,149		Commercial International Bank Egypt SAE		769,011		0.1
	16,479		Eastern Tobacco		166,282		0.0
	10,570		ElSewedy Electric Co.		117,936		0.0
					1,053,229		0.1

			Greece: 0.3%
	213,611	⁽¹⁾	Alpha Bank AE		476,007		0.1
	286,761	⁽¹⁾	Eurobank Ergasias SA		298,167		0.0
	4,349	^(1),(4)	FF Group		24,378		0.0
	37,032		Hellenic Telecommunications Organization SA		456,859		0.1
	16,380		Jumbo SA		269,461		0.0
	870,439	⁽¹⁾	National Bank of Greece SA		265,636		0.0
	33,759		OPAP S.A.		380,631		0.1
	47,798	⁽¹⁾	Piraeus Bank SA		161,736		0.0
	7,684		Titan Cement Co. SA		194,350		0.0
					2,527,225		0.3

			Hungary: 0.3%
	56,856		MOL Hungarian Oil & Gas PLC		547,103		0.1
	34,671		OTP Bank Nyrt		1,251,803		0.2
	21,959		Richter Gedeon Nyrt		399,863		0.0
					2,198,769		0.3

			India: 8.4%
	94,022		Ambuja Cements Ltd.		284,735		0.0
	186,487		Ashok Leyland Ltd.		342,882		0.0
	45,494		Asian Paints Ltd.		839,742		0.1
	40,559		Aurobindo Pharma Ltd.		359,646		0.0
	19,639	^(1),(2)	Avenue Supermarts Ltd.		426,054		0.1
	284,937		Axis Bank Ltd.		2,127,309		0.3
	13,073		Bajaj Auto Ltd.		536,120		0.1
	27,163		Bajaj Finance Ltd.		912,379		0.1
	6,015		Bajaj Finserv Ltd.		511,773		0.1
	32,580		Bharat Forge Ltd.		291,523		0.0
	136,617		Bharat Heavy Electricals Ltd.		143,179		0.0
	116,512		Bharat Petroleum Corp. Ltd.		636,873		0.1
	220,780		Bharti Airtel Ltd.		1,231,811		0.1
	55,008		Bharti Infratel Ltd.		241,735		0.0
	1,236		Bosch Ltd.		315,998		0.0
	4,235		Britannia Industries Ltd.		384,015		0.0
	31,262	⁽¹⁾	Cadila Healthcare Ltd.		172,585		0.0
	54,173		Cipla Ltd.		486,620		0.1
	108,826		Coal India Ltd.		419,948		0.0
	24,731		Container Corp. Of India Ltd.		235,522		0.0
	83,345		Dabur India Ltd.		476,325		0.1
	14,383		Dr Reddys Laboratories Ltd.		468,031		0.1
	3,181		Dr. Reddys Laboratories Ltd. ADR		102,428		0.0
	2,063		Eicher Motors Ltd.		860,263		0.1
	128,002		GAIL India Ltd.		636,172		0.1
	23,191		Glenmark Pharmaceuticals Ltd.		197,350		0.0
	37,584		Godrej Consumer Products Ltd.		672,421		0.1
	50,481		Grasim Industries Ltd.		742,905		0.1
	39,543		Havells India Ltd.		313,514		0.0
	86,942		HCL Technologies Ltd.		1,174,767		0.1
	7,991		Hero Motocorp Ltd.		405,183		0.0
	182,600		Hindalco Industries Ltd.		614,927		0.1
	93,317		Hindustan Petroleum Corp. Ltd.		354,111		0.0
	102,978		Hindustan Unilever Ltd.		2,466,387		0.3
	249,063		Housing Development Finance Corp.		6,940,036		0.8
	373,984		ICICI Bank Ltd.		1,504,214		0.2
	301,201	⁽¹⁾	Idea Cellular Ltd.		261,458		0.0
	42,620		Indiabulls Housing Finance Ltd.		712,609		0.1
	228,419		Indian Oil Corp. Ltd.		521,705		0.1
	66,182		Infosys Ltd. ADR		1,285,916		0.2
	207,109		Infosys Ltd.		3,970,487		0.5
	14,095	⁽²⁾	InterGlobe Aviation Ltd.		224,131		0.0
	541,669		ITC Ltd.		2,104,947		0.2
	133,072		JSW Steel Ltd.		634,833		0.1
	55,816		Larsen & Toubro Ltd.		1,039,187		0.1
	17,432	⁽¹⁾	Larsen & Toubro Ltd. GDS GDR		318,063		0.0
	46,469		LIC Housing Finance Ltd.		318,216		0.0
	33,572		Lupin Ltd.		442,978		0.1
	47,647		Mahindra & Mahindra Financial Services Ltd.		327,048		0.0
	94,223		Mahindra & Mahindra Ltd.		1,234,819		0.1
	20,278		Mahindra & Mahindra Ltd. - SPON GDR		264,628		0.0

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			India: (continued)
	70,363		Marico Ltd.		340,699		0.0
	16,982		Maruti Suzuki India Ltd.		2,188,681		0.3
	99,696		Motherson Sumi Systems Ltd.		414,981		0.0
	83,404		Adani Ports & Special Economic Zone, Ltd.		455,353		0.1
	3,579		Nestle India Ltd.		512,313		0.1
	329,313		NTPC Ltd.		767,989		0.1
	216,308		Oil & Natural Gas Corp., Ltd.		500,086		0.1
	94,621		Petronet LNG Ltd.		303,466		0.0
	18,261		Pidilite Industries Ltd.		283,501		0.0
	12,408		Piramal Enterprises, Ltd.		459,384		0.1
	260,558		Power Grid Corp. of India Ltd.		710,900		0.1
	60,210		Reliance Industries Ltd. GDR		1,691,901		0.2
	327,415		Reliance Industries Ltd.		4,651,891		0.6
	116,741		Rural Electrification Corp. Ltd.		178,649		0.0
	23,396		Shriram Transport Finance Co. Ltd.		443,982		0.1
	1,315		Shree Cement Ltd.		298,268		0.0
	11,178		Siemens, Ltd.		160,079		0.0
	246,544	⁽¹⁾	State Bank of India		934,667		0.1
	1,843		State Bank of India Ltd. GDR		69,201		0.0
	131,367		Sun Pharmaceutical Industries Ltd.		1,082,972		0.1
	144,723		Tata Consultancy Services Ltd.		3,903,205		0.5
	244,663	⁽¹⁾	Tata Motors Ltd.		961,808		0.1
	171,033		Tata Power Co. Ltd.		182,958		0.0
	53,067		Tata Steel Ltd.		439,890		0.1
	3,152	⁽¹⁾	Tata Steel Ltd. - Partially Paid		6,393		0.0
	72,979		Tech Mahindra Ltd.		697,895		0.1
	48,967		Titan Co., Ltd.		628,163		0.1
	15,741		Ultratech Cement Ltd.		877,801		0.1
	44,488	⁽¹⁾	United Spirits Ltd.		432,224		0.1
	54,772		UPL Ltd.		495,173		0.1
	51,674		Vakrangee Software Ltd.		50,418		0.0
	205,681		Vedanta Ltd.		709,791		0.1
	176,057		Wipro Ltd.		671,465		0.1
	267,510		Yes Bank Ltd.		1,329,266		0.2
	76,680		Zee Entertainment Enterprises Ltd.		609,279		0.1
					70,935,200		8.4

			Indonesia: 1.9%
	2,269,500		Adaro Energy Tbk PT		283,179		0.0
	323,400		AKR Corporindo Tbk PT		96,874		0.0
	3,172,900		Astra International Tbk PT		1,460,786		0.2
	1,567,700		Bank Central Asia Tbk PT		2,341,251		0.3
	464,000		Bank Danamon Indonesia Tbk PT		206,565		0.0
	2,893,400		Bank Mandiri Persero TBK PT		1,384,284		0.2
	8,736,100		Bank Rakyat Indonesia		1,727,921		0.2
	725,600		Bank Tabungan Negara Persero Tbk PT		123,836		0.0
	1,136,700		Bank Negara Indonesia Persero Tbk PT		558,529		0.1
	1,145,500		Bumi Serpong Damai PT		124,976		0.0
	1,180,100		Charoen Pokphand Indonesia Tbk PT		302,841		0.0
	74,700		Gudang Garam Tbk PT		350,013		0.1
	1,437,300		Hanjaya Mandala Sampoerna Tbk PT		358,172		0.1
	425,700		Indah Kiat Pulp and Paper Corp. Tbk PT		552,012		0.1
	281,800		Indocement Tunggal Prakarsa Tbk PT		267,967		0.0
	357,100		Indofood CBP Sukses Makmur TBK PT		220,636		0.0
	683,900		Indofood Sukses Makmur Tbk PT		317,270		0.1
	350,531		Jasa Marga Persero Tbk PT		102,109		0.0
	3,289,800		Kalbe Farma Tbk PT		279,822		0.0
	396,400		Matahari Department Store Tbk PT		242,777		0.0
	3,108,500		Pakuwon Jati Tbk PT		114,870		0.0
	1,716,700		Perusahaan Gas Negara PT		238,263		0.0
	461,500		Semen Indonesia Persero Tbk PT		229,399		0.0
	956,600		Surya Citra Media Tbk PT		137,181		0.0
	7,979,800		Telekomunikasi Indonesia Persero Tbk PT		2,089,868		0.3
	317,800		Tower Bersama Infrastructure Tbk PT		110,624		0.0
	232,800		Unilever Indonesia Tbk PT		748,122		0.1
	258,000		United Tractors Tbk PT		568,094		0.1
	756,700		Waskita Karya Persero Tbk PT		101,374		0.0
					15,639,615		1.9

			Malaysia: 2.3%
	248,800		AirAsia Group Bhd		184,404		0.0
	177,900		Alliance Bank Malaysia Bhd		178,018		0.0
	260,100		AMMB Holdings Bhd		241,293		0.0
	218,500		Astro Malaysia Holdings Bhd		85,890		0.0
	420,900		Axiata Group Bhd		396,072		0.1
	24,200		British American Tobacco Malaysia Bhd		208,362		0.0
	703,200		CIMB Group Holdings Bhd		948,080		0.1
	555,342		Dialog Group BHD		424,099		0.1
	492,800		Digi.Com BHD		506,495		0.1
	269,300		Felda Global Ventures Holdings Bhd		100,617		0.0
	17,700		Fraser & Neave Holdings Bhd		170,975		0.0
	283,000		Gamuda BHD		228,763		0.0
	336,900		Genting Bhd		700,877		0.1
	448,600		Genting Malaysia BHD		541,707		0.1
	44,200		Genting Plantations Bhd		103,401		0.0
	95,900		HAP Seng Consolidated Bhd		232,697		0.0
	213,500		Hartalega Holdings Bhd		316,774		0.0
	98,772		Hong Leong Bank BHD		445,308		0.1
	34,892		Hong Leong Financial Group Bhd		155,478		0.0
	406,000		IHH Healthcare Bhd		613,663		0.1
	461,400		IJM Corp. Bhd		204,538		0.0
	333,500		IOI Corp. Bhd		375,370		0.1

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Malaysia: (continued)
	300,540		IOI Properties Group Bhd		118,995		0.0
	73,000		Kuala Lumpur Kepong Bhd		436,609		0.1
	583,300		Malayan Banking BHD		1,299,127		0.2
	131,700		Malaysia Airports Holdings Bhd		286,906		0.0
	371,800		Maxis Bhd		502,975		0.1
	191,700		MISC Bhd		280,847		0.0
	328,700		My EG Services Bhd		78,410		0.0
	8,900		Nestle Malaysia Bhd		324,766		0.1
	366,600		Petronas Chemicals Group Bhd		763,623		0.1
	37,800		Petronas Dagangan BHD		232,278		0.0
	104,900		Petronas Gas BHD		448,497		0.1
	76,400		PPB Group Bhd		372,212		0.1
	217,900		Press Metal Aluminium Holdings Bhd		234,954		0.0
	456,700		Public Bank BHD		2,641,970		0.3
	77,500	⁽¹⁾	RHB Bank Bhd		–		–
	124,076		RHB Bank Bhd		167,370		0.0
	382,300		Sime Darby Bhd		231,666		0.0
	372,000		Sime Darby Plantation Bhd		489,325		0.1
	451,800		Sime Darby Property Bhd		133,837		0.0
	212,900		SP Setia Bhd Group		163,611		0.0
	182,000		Telekom Malaysia BHD		140,074		0.0
	477,600		Tenaga Nasional BHD		1,731,495		0.2
	106,300		Top Glove Corp. Bhd		318,732		0.0
	73,900		UMW Holdings Bhd		109,389		0.0
	156,700		Westports Holdings Bhd		131,654		0.0
	548,334		YTL Corp. Bhd		153,415		0.0
					19,155,618		2.3

			Mexico: 2.9%
	478,100		Alfa SA de CV		555,128		0.1
	78,500		Alsea SAB de CV		270,438		0.0
	5,306,800		America Movil SAB de CV		4,430,294		0.5
	67,300		Arca Continental SAB de CV		413,249		0.0
	287,755		Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand		387,436		0.0
	2,269,321	⁽¹⁾	Cemex SA de CV		1,493,437		0.2
	80,300		Coca-Cola Femsa SAB de CV		452,966		0.1
	31,100		El Puerto de Liverpool SAB de CV		198,984		0.0
	515,100		Fibra Uno Administracion SA de CV		750,854		0.1
	307,000		Fomento Economico Mexicano SAB de CV		2,698,042		0.3
	34,675		Gruma SAB de CV		423,498		0.0
	56,900		Grupo Aeroportuario del Pacifico SA de CV		528,023		0.1
	32,935		Grupo Aeroportuario del Sureste SA de CV		523,205		0.1
	254,200		Grupo Bimbo SAB de CV		495,466		0.1
	70,400		Grupo Carso SAB de CV		238,173		0.0
	389,700		Grupo Financiero Banorte		2,291,470		0.3
	354,900		Grupo Financiero Inbursa SA		498,569		0.1
	556,000		Grupo Mexico SA de CV Series B		1,575,873		0.2
	379,900	⁽³⁾	Grupo Televisa S.A.		1,440,962		0.2
	21,575		Industrias Penoles, S.A. de C.V.		387,378		0.0
	85,600		Infraestructura Energetica Nova SAB de CV		383,643		0.0
	237,300		Kimberly-Clark de Mexico SA de CV		401,111		0.0
	171,550		Mexichem SA de CV		495,640		0.1
	37,900		Promotora y Operadora de Infraestructura SAB de CV		339,226		0.0
	13,776	⁽³⁾	Southern Copper Corp.		645,681		0.1
	821,200		Wal-Mart de Mexico SAB de CV		2,167,511		0.3
					24,486,257		2.9

			Pakistan: 0.1%
	92,500		Habib Bank Ltd.		126,766		0.1
	22,050		Lucky Cement Ltd.		92,218		0.0
	72,700		MCB Bank Ltd.		118,385		0.0
	99,300		Oil & Gas Development Co. Ltd.		127,225		0.0
	87,700		United Bank Ltd./Pakistan		122,022		0.0
					586,616		0.1

			Peru: 0.3%
	28,198		Cia de Minas Buenaventura SAA ADR		384,339		0.0
	10,642		Credicorp Ltd.		2,395,727		0.3
					2,780,066		0.3

			Philippines: 0.9%
	320,890		Aboitiz Equity Ventures, Inc.		328,110		0.1
	248,400		Aboitiz Power Corp.		161,744		0.0
	584,900	⁽¹⁾	Alliance Global Group, Inc.		127,353		0.0
	37,975		Ayala Corp.		654,601		0.1
	1,130,400		Ayala Land, Inc.		802,588		0.1
	147,320		Bank of the Philippine Islands		244,414		0.0
	302,899		BDO Unibank, Inc.		712,191		0.1
	645,050		DMCI Holdings, Inc.		126,903		0.0
	5,745		Globe Telecom, Inc.		165,781		0.0
	13,375		GT Capital Holdings, Inc.		228,065		0.1
	79,980		International Container Terminal Services, Inc.		115,847		0.0
	440,000		JG Summit Holdings, Inc.		412,222		0.1
	66,220		Jollibee Foods Corp.		326,495		0.0
	32,370		Manila Electric Co.		215,680		0.0
	1,996,000		Megaworld Corp.		160,197		0.0
	2,309,100		Metro Pacific Investments Corp.		199,069		0.0
	128,296		Metropolitan Bank & Trust Co.		176,340		0.0
	13,810		PLDT, Inc.		330,623		0.1
	362,195		Robinsons Land Corp.		126,275		0.0
	36,850		Security Bank Corp.		137,807		0.0
	37,467		SM Investments Corp.		614,645		0.1
	1,613,500		SM Prime Holdings, Inc.		1,086,893		0.1

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Philippines: (continued)
	134,240		Universal Robina Corp.		303,858		0.0
					7,757,701		0.9

			Poland: 1.1%
	14,325	⁽¹⁾	Alior Bank SA		253,669		0.0
	5,070		Bank Handlowy w Warszawie		95,728		0.0
	95,180	⁽¹⁾	Bank Millennium SA		203,795		0.0
	26,800	⁽³⁾	Bank Polska Kasa Opieki SA		806,667		0.1
	5,416		Bank Zachodni WBK SA		479,511		0.1
	4,675		CCC SA		257,194		0.0
	10,478		CD Projekt SA		449,339		0.1
	36,624		Cyfrowy Polsat SA		225,473		0.0
	7,286	^(1),(2)	Dino Polska SA		201,180		0.0
	14,532		Grupa Lotos SA		220,176		0.0
	8,345	⁽¹⁾	Jastrzebska Spolka Weglowa SA		169,744		0.0
	22,017		KGHM Polska Miedz SA		516,098		0.1
	203		LPP SA		457,891		0.1
	2,358		mBank SA		250,627		0.0
	132,458	⁽¹⁾	PGE Polska Grupa Energetyczna SA		329,164		0.1
	18,232	⁽²⁾	PLAY Communications SA		124,279		0.0
	46,323		Polski Koncern Naftowy Orlen		1,037,498		0.1
	270,572		Polskie Gornictwo Naftowe I Gazownictwo SA		411,933		0.1
	137,885	⁽¹⁾	Powszechna Kasa Oszczednosci Bank Polski SA		1,354,614		0.2
	93,230		Powszechny Zaklad Ubezpieczen SA		966,563		0.1
	105,322	⁽¹⁾	Orange Polska SA		130,042		0.0
	7,165		Grupa Azoty SA		82,445		0.0
					9,023,630		1.1

			Qatar: 0.8%
	13,853		Barwa Real Estate Co.		130,122		0.0
	29,807		Commercial Bank QSC/The		311,823		0.0
	22,465		Doha Bank QPSC		165,048		0.0
	119,612	⁽¹⁾	Ezdan Holding Group QSC		270,504		0.1
	26,105		Industries Qatar QSC		767,936		0.1
	56,154		Masraf Al Rayan		538,714		0.1
	11,758		Ooredoo QPSC		234,854		0.0
	7,106		Qatar Electricity & Water Co. QSC		366,826		0.1
	22,797		Qatar Insurance Co. SAQ		222,672		0.0
	17,036		Qatar Islamic Bank SAQ		542,756		0.1
	66,896		Qatar National Bank QPSC		2,794,002		0.3
					6,345,257		0.8

			Romania: 0.1%
	58,057		NEPI Rockcastle PLC		518,291		0.1

			Russia: 3.2%
	398,500		Alrosa PJSC		635,407		0.1
	1,583,063		Gazprom PJSC		3,571,379		0.4
	5,090,000	⁽¹⁾	Inter RAO UES PJSC		333,613		0.0
	66,147		Lukoil PJSC		4,600,123		0.6
	54,876		Magnit PJSC GDR		983,413		0.1
	352,400		Magnitogorsk Iron & Steel Works PJSC		238,622		0.0
	9,868		MMC Norilsk Nickel OJSC		1,791,640		0.2
	76,492		Mobile TeleSystems PJSC ADR		675,424		0.1
	224,495		Moscow Exchange MICEX-RTS PJ		389,011		0.1
	11,598		Novatek PJSC GDR		1,714,323		0.2
	191,890		Novolipetsk Steel PJSC		464,814		0.1
	18,030		PhosAgro OJSC GDR		230,507		0.0
	4,392		Polyus PJSC		294,702		0.0
	152,836		Rosneft Oil Co. PJSC		965,198		0.1
	17,082,910		RusHydro PJSC		183,910		0.0
	1,185,442		Sberbank of Russia PJSC		4,117,713		0.5
	50,730		Sberbank PAO ADR		728,229		0.1
	34,031		Severstal PJSC		504,883		0.1
	1,102,651		Surgutneftegas OJSC		501,815		0.1
	237,915		Tatneft PJSC		2,573,365		0.3
	681,827,930		VTB Bank PJSC		524,291		0.1
	1,245	⁽¹⁾	X5 Retail Group N.V. GDR		34,331		0.0
	17,352		X5 Retail Group NV GDR		477,171		0.0
					26,533,884		3.2

			Singapore: 0.0%
	29,200	⁽²⁾	BOC Aviation Ltd.		181,202		0.0

			South Africa: 6.3%
	8,695		Anglo American Platinum Ltd.		226,777		0.0
	63,300		AngloGold Ashanti Ltd.		518,952		0.1
	60,413		Aspen Pharmacare Holdings Ltd.		1,134,309		0.1
	112,339		Barclays Africa Group Ltd.		1,304,448		0.2
	51,774		Bid Corp. Ltd.		1,036,725		0.1
	51,794		Bidvest Group Ltd.		741,689		0.1
	6,379		Capitec Bank Holdings Ltd.		401,888		0.0
	40,670		Clicks Group Ltd.		580,703		0.1
	36,256		Coronation Fund Managers Ltd.		154,116		0.0
	54,741		Discovery Ltd.		587,512		0.1
	39,576		Exxaro Resources Ltd.		361,331		0.0
	532,008		FirstRand Ltd.		2,471,391		0.3
	159,975		Fortress REIT Ltd. - A		179,121		0.0
	132,485		Fortress REIT Ltd. - B		145,355		0.0
	34,883	⁽³⁾	Foschini Group Ltd./The		441,596		0.1
	125,863		Gold Fields Ltd.		445,408		0.1
	464,572		Growthpoint Properties Ltd.		903,913		0.1
	39,004		Hyprop Investments Ltd.		290,991		0.0
	24,323		Imperial Holdings Ltd.		346,942		0.0
	46,619		Investec Ltd.		326,461		0.0
	10,239	⁽³⁾	Kumba Iron Ore Ltd.		219,147		0.0
	21,118		Liberty Holdings Ltd.		179,074		0.0
	213,509		Life Healthcare Group Holdings Ltd.		387,250		0.1
	154,688		MMI Holdings Ltd.		199,304		0.0
	18,827		Mondi Ltd.		509,958		0.1
	39,560	⁽³⁾	Mr Price Group Ltd.		649,239		0.1
	270,166		MTN Group Ltd.		2,125,089		0.3
	68,764		Naspers Ltd.		17,338,419		2.1
	34,203		Nedbank Group Ltd.		621,205		0.1

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			South Africa: (continued)
	178,811		Netcare Ltd.		358,508		0.0
	777,064	⁽¹⁾	Old Mutual Ltd.		1,574,238		0.2
	56,452		Pick n Pay Stores Ltd.		307,744		0.0
	19,533		Pioneer Foods Group Ltd.		159,354		0.0
	23,932		PSG Group Ltd.		376,457		0.0
	111,265		Rand Merchant Investment Holdings Ltd.		302,424		0.0
	810,601		Redefine Properties Ltd.		619,880		0.1
	22,659	⁽¹⁾	Reinet Investments SCA		399,165		0.1
	82,029		Remgro Ltd.		1,218,836		0.1
	87,327		Resilient REIT Ltd.		358,093		0.0
	108,147		RMB Holdings Ltd.		595,034		0.1
	277,351		Sanlam Ltd.		1,409,120		0.2
	82,862		Sappi Ltd.		551,337		0.1
	87,450		Sasol Ltd.		3,180,280		0.4
	69,229		Shoprite Holdings Ltd.		1,109,652		0.1
	29,570	⁽³⁾	Spar Group Ltd.		399,699		0.1
	204,289		Standard Bank Group Ltd.		2,852,320		0.3
	41,290		Telkom SA Ltd.		147,280		0.0
	24,738	⁽³⁾	Tiger Brands Ltd.		597,467		0.1
	68,404		Truworths International Ltd.		382,454		0.0
	92,292	⁽³⁾	Vodacom Group Pty Ltd.		826,137		0.1
	154,909		Woolworths Holdings Ltd./South Africa		624,600		0.1
					53,178,392		6.3

			South Korea: 13.5%
	5,040		Amorepacific Corp.		1,458,950		0.2
	4,460		AMOREPACIFIC Group		494,396		0.1
	1,267		BGF retail Co. Ltd.		221,682		0.0
	40,884		BNK Financial Group, Inc.		342,570		0.0
	5,344	⁽¹⁾	Celltrion Healthcare Co. Ltd.		530,128		0.1
	12,781	⁽¹⁾	Celltrion, Inc.		3,472,407		0.4
	2,362	⁽¹⁾	Celltrion Pharm, Inc.		191,587		0.0
	10,316		Cheil Worldwide, Inc.		191,049		0.0
	1,248		CJ CheilJedang Corp.		395,104		0.1
	2,407		CJ Corp.		306,689		0.0
	2,748		CJ E&M Corp.		243,856		0.0
	1,201	⁽¹⁾	CJ Logistics Corp.		181,125		0.0
	4,272		Daelim Industrial Co., Ltd.		293,467		0.0
	28,163	⁽¹⁾	Daewoo Engineering & Construction Co., Ltd.		148,421		0.0
	26,593		DGB Financial Group, Inc.		244,578		0.0
	7,764		DB Insurance Co. Ltd		411,167		0.1
	5,464		Dongsuh Cos, Inc.		128,382		0.0
	9,514	⁽¹⁾	Doosan Heavy Industries and Construction Co. Ltd.		133,694		0.0
	5,144	⁽¹⁾	Doosan Bobcat, Inc.		147,709		0.0
	3,249		E-Mart, Inc.		741,432		0.1
	2,995		Hyundai Glovis Co., Ltd.		310,315		0.0
	8,094		GS Engineering & Construction Corp.		334,554		0.0
	8,087		GS Holdings Corp.		394,540		0.1
	4,534		GS Retail Co. Ltd.		178,920		0.0
	46,680		Hana Financial Group, Inc.		1,792,547		0.2
	11,378		Hankook Tire Co. Ltd.		429,912		0.1
	984		Hanmi Pharm Co. Ltd.		371,382		0.1
	2,111		Hanmi Science Co. Ltd.		122,351		0.0
	29,322		Hanon Systems Corp.		278,919		0.0
	1,768		Hanssem Co. Ltd.		166,386		0.0
	16,950		Hanwha Chemical Corp.		332,224		0.0
	6,859		Hanwha Corp.		194,051		0.0
	42,480		Hanwha Life Insurance Co. Ltd.		201,912		0.0
	5,608	⁽¹⁾	HDC Hyundai Development Co-Engineering & Construction		271,217		0.1
	4,817	⁽¹⁾	HLB, Inc.		420,853		0.1
	2,749		Lotte Chemical Corp.		856,949		0.1
	4,852		Hotel Shilla Co. Ltd.		537,435		0.1
	3,223	⁽⁴⁾	Hyosung Corp.		387,512		0.0
	2,127		Hyundai Department Store Co. Ltd.		220,496		0.0
	12,190		Hyundai Engineering & Construction Co. Ltd.		629,811		0.1
	5,700	⁽¹⁾	Hyundai Heavy Industries Co. Ltd		521,265		0.1
	10,804		Hyundai Mobis Co. Ltd.		2,054,931		0.3
	24,571		Hyundai Motor Co.		2,761,631		0.3
	12,433		Hyundai Steel Co.		586,506		0.1
	1,511	⁽¹⁾	Hyundai Heavy Industries Holdings Co., Ltd.		478,983		0.1
	9,977		Hyundai Marine & Fire Insurance Co., Ltd.		302,113		0.0
	38,646		Industrial Bank Of Korea		532,996		0.1
	5,285	^(1),(2)	ING Life Insurance Korea Ltd.		198,411		0.0
	7,116		Kakao Corp.		730,778		0.1
	18,016		Kangwon Land, Inc.		422,768		0.1
	62,854		KB Financial Group, Inc.		2,958,649		0.4
	910		KCC Corp.		267,842		0.0
	3,834		KEPCO Plant Service & Engineering Co. Ltd.		122,633		0.0
	41,196		Kia Motors Corp.		1,138,225		0.1
	10,568	⁽¹⁾	Korea Aerospace Industries Ltd.		389,704		0.1
	39,921		Korea Electric Power Corp.		1,145,026		0.1
	4,209	⁽¹⁾	Korea Gas Corp.		241,936		0.0
	6,388		Korea Investment Holdings Co., Ltd.		481,653		0.1
	1,358		Korea Zinc Co., Ltd.		470,367		0.1
	7,559		Korean Air Lines Co. Ltd.		191,511		0.0
	3,610		KT Corp.		88,788		0.0
	18,354		KT&G Corp.		1,763,543		0.2
	2,821		Kumho Petrochemical Co. Ltd.		294,729		0.0
	7,181		LG Chem Ltd.		2,149,334		0.3
	14,602		LG Corp.		944,013		0.1
	35,749		LG Display Co., Ltd.		586,480		0.1
	16,989		LG Electronics, Inc.		1,264,920		0.2
	1,471		LG Household & Health Care Ltd.		1,843,270		0.2
	2,202		LG Innotek Co. Ltd.		285,564		0.0
	4,528	⁽¹⁾	Lotte Corp.		232,433		0.0
	1,784		Lotte Shopping Co. Ltd.		336,382		0.0
	663		Medy-Tox, Inc.		455,809		0.1
	61,146		Mirae Asset Daewoo Co., Ltd.		467,249		0.1
	4,446		NAVER Corp.		3,042,419		0.4
	2,753		NCSoft Corp.		916,157		0.1
	3,956	⁽²⁾	Netmarble Corp.		541,227		0.1

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			South Korea: (continued)
	22,307		NH Investment & Securities Co., Ltd.		298,834		0.0
	2,777		OCI Co. Ltd.		256,921		0.0
	3,388		Orion Corp./Republic of Korea		452,347		0.1
	181		Ottogi Corp.		139,604		0.0
	36,417	⁽¹⁾	Pan Ocean Co. Ltd.		159,328		0.0
	857	⁽¹⁾	PearlAbyss Corp.		173,056		0.0
	12,470		POSCO		3,679,397		0.4
	7,394		Posco Daewoo Corp.		141,988		0.0
	2,642		S-1 Corp.		229,471		0.0
	2,601	^(1),(2)	Samsung Biologics Co. Ltd.		973,538		0.1
	11,949		Samsung C&T Corp.		1,249,397		0.2
	4,454		Samsung Card Co.		153,133		0.0
	8,727		Samsung Electro-Mechanics Co. Ltd.		1,161,904		0.1
	755,100		Samsung Electronics Co., Ltd.		31,630,823		3.8
	4,755		Samsung Fire & Marine Insurance Co. Ltd.		1,126,653		0.1
	60,239	⁽¹⁾	Samsung Heavy Industries Co., Ltd.		385,743		0.1
	10,858		Samsung Life Insurance Co. Ltd.		958,512		0.1
	8,650		Samsung SDI Co., Ltd.		1,659,143		0.2
	5,439		Samsung SDS Co. Ltd.		976,602		0.1
	10,386		Samsung Securities Co. Ltd.		324,184		0.0
	24,588	⁽¹⁾	Samsung Engineering Co. Ltd.		344,995		0.0
	67,610		Shinhan Financial Group Co., Ltd.		2,617,734		0.3
	1,150		Shinsegae, Inc.		413,596		0.1
	7,970	⁽¹⁾	SillaJen, Inc.		523,152		0.1
	10,307		SK Innovation Co. Ltd.		1,866,890		0.2
	4,915	⁽¹⁾	SK Holdings Co. Ltd.		1,141,238		0.1
	91,340		SK Hynix, Inc.		7,011,190		0.8
	3,104		SK Telecom Co., Ltd.		648,766		0.1
	6,972		S-Oil Corp.		684,664		0.1
	2,108	⁽¹⁾	ViroMed Co. Ltd.		444,919		0.1
	7,594		Coway Co., Ltd.		590,077		0.1
	73,126		Woori Bank		1,066,590		0.1
	1,394		Yuhan Corp.		271,984		0.0
					113,677,297		13.5

			Taiwan: 11.3%
	452,462		Acer, Inc.		368,973		0.0
	52,694		Advantech Co. Ltd.		346,985		0.0
	17,000		Airtac International Group		241,302		0.0
	556,243		ASE Industrial Holding Co. Ltd.		1,306,296		0.1
	361,356		Asia Cement Corp.		396,672		0.1
	109,000		Asustek Computer, Inc.		994,692		0.1
	1,319,000		AU Optronics Corp.		558,830		0.1
	101,000		Catcher Technology Co., Ltd.		1,127,696		0.1
	1,282,611		Cathay Financial Holding Co., Ltd.		2,259,195		0.3
	179,128		Chailease Holding Co. Ltd.		585,803		0.1
	759,395		Chang Hwa Commercial Bank Ltd.		440,304		0.1
	307,650		Cheng Shin Rubber Industry Co. Ltd.		462,740		0.1
	89,370		Chicony Electronics Co. Ltd.		201,202		0.0
	408,000	⁽¹⁾	China Airlines Ltd.		127,245		0.0
	2,118,000		China Development Financial Holding Corp.		773,177		0.1
	391,347		China Life Insurance Co., Ltd.		411,540		0.1
	1,949,535		China Steel Corp.		1,514,430		0.2
	2,727,170		CTBC Financial Holding Co. Ltd.		1,959,520		0.2
	611,000		Chunghwa Telecom Co., Ltd.		2,201,941		0.3
	656,000		Compal Electronics, Inc.		412,741		0.1
	335,703		Delta Electronics, Inc.		1,203,276		0.1
	1,448,534		E.Sun Financial Holding Co., Ltd.		1,008,568		0.1
	28,386		Eclat Textile Co. Ltd.		337,136		0.0
	316,020		Eva Airways Corp.		152,754		0.0
	312,047	⁽¹⁾	Evergreen Marine Corp. Taiwan Ltd		132,850		0.0
	515,685		Far Eastern New Century Corp.		488,291		0.1
	251,000		Far EasTone Telecommunications Co., Ltd.		648,374		0.1
	51,312		Feng TAY Enterprise Co., Ltd.		257,204		0.0
	1,479,151		First Financial Holding Co., Ltd.		998,672		0.1
	566,600		Formosa Chemicals & Fibre Co.		2,254,677		0.3
	194,000		Formosa Petrochemical Corp.		778,305		0.1
	716,600		Formosa Plastics Corp.		2,640,884		0.3
	111,000		Formosa Taffeta Co. Ltd.		121,309		0.0
	148,849		Foxconn Technology Co., Ltd.		363,965		0.0
	1,044,000		Fubon Financial Holding Co., Ltd.		1,746,734		0.2
	25,000		General Interface Solution Holding Ltd.		161,800		0.0
	50,000		Giant Manufacturing Co., Ltd.		211,229		0.0
	33,000		Globalwafers Co. Ltd.		546,346		0.1
	128,300		Highwealth Construction Corp.		190,226		0.0
	33,122		Hiwin Technologies Corp.		390,208		0.1
	2,595,463		HON HAI Precision Industry Co., Ltd.		7,072,812		0.8
	43,000		Hotai Motor Co. Ltd.		378,487		0.1
	107,000	⁽¹⁾	HTC Corp.		199,420		0.0
	1,154,856		Hua Nan Financial Holdings Co. Ltd.		671,794		0.1
	1,377,439		Innolux Corp.		494,131		0.1
	383,000		Inventec Co., Ltd.		300,356		0.0
	16,000		Largan Precision Co. Ltd.		2,350,518		0.3
	339,538		Lite-On Technology Corp.		410,264		0.1
	279,000	⁽¹⁾	Macronix International		395,649		0.1
	235,820		MediaTek, Inc.		2,314,831		0.3
	1,679,826		Mega Financial Holdings Co., Ltd.		1,481,098		0.2
	108,000		Micro-Star International Co., Ltd.		332,456		0.0
	835,890		Nan Ya Plastics Corp.		2,387,434		0.3

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Taiwan: (continued)
	158,000		Nanya Technology Corp.		428,886		0.1
	24,000		Nien Made Enterprise Co. Ltd.		204,514		0.0
	90,000		Novatek Microelectronics Corp., Ltd.		405,022		0.1
	305,000		Pegatron Corp.		626,255		0.1
	23,000		Phison Electronics Corp.		181,421		0.0
	326,000		Pou Chen Corp.		378,250		0.1
	117,000		Powertech Technology, Inc.		339,132		0.0
	88,000		President Chain Store Corp.		997,165		0.1
	422,000		Quanta Computer, Inc.		739,480		0.1
	73,760		Realtek Semiconductor Corp.		268,007		0.0
	148,032	⁽¹⁾	Ruentex Development Co. Ltd.		170,808		0.0
	89,081		Ruentex Industries Ltd.		181,494		0.0
	1,272,860		Shin Kong Financial Holding Co., Ltd.		489,607		0.1
	1,640,642		SinoPac Financial Holdings Co., Ltd.		591,305		0.1
	78,914		Standard Foods Corp.		159,615		0.0
	219,800		Synnex Technology International Corp.		331,437		0.0
	28,000	⁽¹⁾	TaiMed Biologics, Inc.		285,877		0.0
	1,514,451		Taishin Financial Holdings Co., Ltd.		714,689		0.1
	606,083		Taiwan Business Bank		186,851		0.0
	599,000		Taiwan Cement Corp.		831,131		0.1
	1,279,049		Taiwan Cooperative Financial Holding Co. Ltd.		748,367		0.1
	275,000		Taiwan High Speed Rail Corp.		215,425		0.0
	252,000		Taiwan Mobile Co., Ltd.		912,963		0.1
	3,866,000		Taiwan Semiconductor Manufacturing Co., Ltd.		27,452,773		3.3
	293,000		Teco Electric and Machinery Co. Ltd.		219,888		0.0
	752,209		Uni-President Enterprises Corp.		1,906,717		0.2
	1,818,000		United Microelectronics Corp.		1,025,352		0.1
	143,000		Vanguard International Semiconductor Corp.		326,674		0.0
	49,000		Walsin Technology Corp.		668,918		0.1
	55,000		Win Semiconductors Corp.		393,835		0.1
	475,000		Winbond Electronics Corp.		302,575		0.0
	403,530		Wistron Corp.		299,234		0.0
	259,000		WPG Holdings Ltd.		366,712		0.0
	33,000		Yageo Corp.		1,212,856		0.1
	1,574,586		Yuanta Financial Holding Co., Ltd.		717,064		0.1
	74,000		Zhen Ding Technology Holding Ltd.		163,364		0.0
					95,557,005		11.3

			Thailand: 2.1%
	2,700		Advanced Info Service PCL		15,069		0.0
	159,600		Advanced Info Service PCL		890,723		0.1
	24,000		Airports of Thailand PCL		45,625		0.0
	648,300		Airports of Thailand PCL		1,232,439		0.2
	38,800		Bangkok Bank PCL - Foreign Reg		232,175		0.0
	21,200		Bangkok Dusit Medical Services PCL		15,978		0.0
	578,600		Bangkok Dusit Medical Services PCL		436,068		0.1
	59,900		Bangkok Expressway & Metro PCL		13,465		0.0
	1,084,600		Bangkok Expressway & Metro PCL		243,803		0.0
	20,000		Banpu PCL		11,764		0.0
	325,100		Banpu PCL		191,222		0.0
	9,100		Berli Jucker PCL		13,864		0.0
	173,700	⁽³⁾	Berli Jucker PCL		264,643		0.0
	50,000		BTS Group Holdings PCL		13,281		0.0
	838,100		BTS Group Holdings PCL		222,616		0.0
	2,500		Bumrungrad Hospital PCL		12,569		0.0
	53,500		Bumrungrad Hospital PCL		268,980		0.1
	6,800		Central Pattana PCL		14,314		0.0
	207,600		Central Pattana PCL		436,992		0.1
	61,000		Charoen Pokphand Foods PCL		44,558		0.0
	464,600		Charoen Pokphand Foods PCL		339,370		0.1
	55,000		CP ALL PCL		121,896		0.0
	751,300		CP ALL PCL		1,665,097		0.2
	6,800		Delta Electronics Thailand PCL		12,003		0.0
	74,900		Delta Electronics Thailand PCL		132,214		0.0
	1,800		Electricity Generating PCL		12,155		0.0
	18,400		Electricity Generating PCL		124,252		0.0
	15,900		Energy Absolute PCL		15,696		0.0
	184,700		Energy Absolute PCL		182,325		0.0
	4,400		Glow Energy PCL		12,584		0.0
	73,200		Glow Energy PCL		209,349		0.0
	31,800		Home Product Center PCL		12,878		0.0
	597,651		Home Product Center PCL		242,022		0.0
	12,900		Indorama Ventures PCL		21,300		0.0
	233,600		Indorama Ventures PCL		385,720		0.1
	68,300		IRPC PCL		11,945		0.0
	1,536,100		IRPC PCL		268,654		0.0
	25,600		Kasikornbank PCL		149,768		0.0
	259,400		Kasikornbank PCL - Foreign		1,563,418		0.2
	25,400		Krung Thai Bank PCL		12,795		0.0
	526,000		Krung Thai Bank PCL		264,962		0.0
	442,400		Land and Houses PCL		150,894		0.0
	12,900		Minor International PCL		12,651		0.0
	344,300		Minor International PCL		337,659		0.1
	212,400		PTT Exploration & Production PCL		899,130		0.1
	340,400		PTT Global Chemical PCL		749,308		0.1
	5,900		PTT Exploration & Production PCL		24,976		0.0
	7,500		PTT Global Chemical PCL		16,509		0.0

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Thailand: (continued)
	1,567,100		PTT PCL		2,265,668		0.3
	134,700		PTT PCL		194,745		0.0
	7,100		Robinson PCL		12,009		0.0
	77,500		Robinson PCL		131,087		0.0
	2,600		Siam Cement PCL		32,464		0.0
	56,200		Siam Cement PCL		698,536		0.1
	278,700		Siam Commercial Bank PCL		995,034		0.1
	4,100		Siam Commercial Bank PCL		14,638		0.0
	11,800		Thai Oil PCL		27,662		0.0
	157,000		Thai Oil PCL		368,050		0.1
	24,900		Thai Union Group PCL		11,877		0.0
	278,300		Thai Union Group PCL		132,744		0.0
	166,500		TMB Bank PCL		11,570		0.0
	1,823,600		TMB Bank PCL		126,722		0.0
	76,100		True Corp. PCL		12,157		0.0
	1,497,590	⁽³⁾	True Corp. PCL		239,236		0.0
					17,845,877		2.1

			Turkey: 0.7%
	332,618		Akbank Turk AS		543,631		0.1
	34,418		Anadolu Efes Biracilik Ve Malt Sanayii AS		176,907		0.0
	39,290		Arcelik A/S		130,380		0.0
	53,285		Aselsan Elektronik Sanayi Ve Ticaret AS		267,895		0.0
	32,362		BIM Birlesik Magazalar AS		472,619		0.1
	13,672		Coca-Cola Icecek AS		100,607		0.0
	309,782		Emlak Konut Gayrimenkul Yatirim Ortakligi AS		137,180		0.0
	215,894		Eregli Demir ve Celik Fabrikalari TAS		478,811		0.1
	11,150		Ford Otomotiv Sanayi A/S		148,382		0.0
	140,364		Haci Omer Sabanci Holding AS		269,495		0.0
	113,246		KOC Holding AS		349,920		0.1
	117,610		Petkim Petrokimya Holding		123,879		0.0
	28,961		TAV Havalimanlari Holding AS		141,749		0.0
	20,115		Tofas Turk Otomobil Fabrikasi AS		105,270		0.0
	18,704		Tupras Turkiye Petrol Rafine		440,897		0.1
	85,837	⁽¹⁾	Turk Hava Yollari		253,154		0.0
	166,929		Turkcell Iletisim Hizmet AS		442,530		0.1
	346,341		Turkiye Garanti Bankasi A/S		631,779		0.1
	102,346		Turkiye Halk Bankasi AS		165,134		0.0
	244,344		Turkiye Is Bankasi		303,156		0.0
	116,658		Turk Sise Ve Cam Fabrikalari		107,392		0.0
	125,841		Turkiye Vakiflar Bankasi Tao		134,265		0.0
	25,210	⁽¹⁾	Ulker Biskuvi Sanayi AS		98,725		0.0
	270,383	⁽¹⁾	Yapi Ve Kredi Bankasi		145,514		0.0
					6,169,271		0.7

			United Arab Emirates: 0.6%
	315,699		Abu Dhabi Commercial Bank PJSC		606,791		0.1
	530,035		Aldar Properties PJSC		291,800		0.0
	263,336		DAMAC Properties Dubai Co. PJSC		147,192		0.0
	24,456		DP World Ltd.		562,488		0.1
	272,593		Dubai Investments PJSC		141,003		0.0
	251,299		Dubai Islamic Bank PJSC		333,182		0.1
	284,222		Emaar Malls PJSC		165,589		0.0
	537,029		Emaar Properties PJSC		720,633		0.1
	108,188	⁽¹⁾	Emaar Development PJSC		149,036		0.0
	264,039		Emirates Telecommunications Group Co. PJSC		1,160,919		0.1
	219,364		First Abu Dhabi Bank PJSC		725,610		0.1
					5,004,243		0.6

		Total Common Stock
		(Cost $713,717,225)			792,828,815		94.2

PREFERRED STOCK: 2.9%
			Brazil: 2.0%
	536,321		Banco Bradesco SA		3,705,780		0.4
	27,900		Braskem SA		362,666		0.1
	24,800		Cia Brasileira de Distribuicao		495,520		0.1
	141,259		Cia Energetica de Minas Gerais		263,146		0.0
	36,400	⁽¹⁾	Centrais Eletricas Brasileiras SA		128,855		0.0
	158,900		Gerdau SA		567,829		0.1
	508,350		Itau Unibanco Holding S.A.		5,266,143		0.6
	688,287		Investimentos Itau SA		1,632,034		0.2
	116,960		Lojas Americanas SA		500,945		0.1
	624,400		Petroleo Brasileiro SA		2,766,161		0.3
	68,800		Telefonica Brasil SA		813,902		0.1
					16,502,981		2.0

			Chile: 0.1%
	45,565		Embotelladora Andina SA		177,687		0.0
	19,155		Sociedad Quimica y Minera de Chile SA		918,620		0.1
					1,096,307		0.1

			Colombia: 0.0%
	571,663		Grupo Aval Acciones y Valores		238,920		0.0
	18,977		Grupo de Inversiones Suramericana SA		229,585		0.0
					468,505		0.0

			Russia: 0.1%
	1,073,123		Surgutneftegas OAO		538,351		0.1
	72		Transneft PJSC		190,899		0.0
					729,250		0.1

			South Korea: 0.7%
	1,424		Amorepacific Corp.		197,843		0.0
	3,742		Hyundai Motor Co.		276,095		0.0
	5,807		Hyundai Motor Co.- Series 2		472,658		0.1
	338		LG Household & Health Care Ltd.		221,455		0.0
	1,286		LG Chem Ltd.		232,389		0.0

See Accompanying Notes to Financial Statements

Voya Emerging Markets Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value			Percentage of Net Assets
PREFERRED STOCK: (continued)
			South Korea: (continued)
	134,318		Samsung Electronics Co., Ltd.		4,535,771			0.6
					5,936,211			0.7

		Total Preferred Stock
		(Cost $24,923,885)			24,733,254			2.9

RIGHTS: –%
			Taiwan: –%
	50,856	⁽¹⁾	Cathay Financial Holding Co., Ltd.		–			–

		Total Rights
		(Cost $–)			–			–

		Total Long-Term Investments
		(Cost $738,641,110)			817,562,069			97.1

Principal Amount†				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.1%
			Securities Lending Collateral⁽⁵⁾: 1.1%
	2,134,753		Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $2,135,118, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $2,177,448, due 07/25/18-06/15/53)		2,134,753			0.2
	2,583,753		National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $2,584,180, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $2,635,429, due 09/06/18-09/09/49)		2,583,753			0.3
	2,134,753		NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $2,135,095, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $2,177,454, due 01/31/20-09/09/49)		2,134,753			0.3
	2,134,753		State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $2,135,157, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $2,177,464, due 07/15/19-02/15/48)		2,134,753			0.3
					8,988,012			1.1

Shares				Value			Percentage of Net Assets
			Mutual Funds: 2.0%
	17,042,000	⁽⁶⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $17,042,000)		17,042,000			2.0

		Total Short-Term Investments
		(Cost $26,030,012)			26,030,012			3.1

		Total Investments in Securities (Cost $764,671,122)		$	843,592,081			100.2
		Liabilities in Excess of Other Assets			(1,547,196	)		(0.2	)
		Net Assets		$	842,044,885			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
ADR	American Depositary Receipt
GDR	Global 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)	Security, or a portion of the security, is on loan.
(4)	For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.
(5)	Represents securities purchased with cash collateral received for securities on loan.
(6)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Euro STOXX 50^® Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 96.9%
			Belgium: 2.7%
	109,866		Anheuser-Busch InBev SA/NV		11,081,646		2.7

			Finland: 1.2%
	813,992		Nokia OYJ - Finland		4,668,967		1.2

			France: 35.0%
	61,968		Air Liquide SA		7,767,401		1.9
	301,111		AXA S.A.		7,357,288		1.8
	166,542		BNP Paribas		10,301,790		2.6
	80,012		Cie de Saint-Gobain		3,564,134		0.9
	92,002		Danone		6,717,304		1.7
	267,170		Engie SA		4,086,772		1.0
	31,673		Essilor International Cie Generale d'Optique SA		4,465,779		1.1
	35,584		L'Oreal S.A.		8,772,418		2.2
	38,934		LVMH Moet Hennessy Louis Vuitton SE		12,926,841		3.2
	296,251		Orange SA		4,945,071		1.2
	51,839		Safran S.A.		6,277,964		1.6
	163,508		Sanofi		13,123,090		3.3
	77,865		Schneider Electric SE		6,475,787		1.6
	116,779		Societe Generale		4,908,218		1.2
	384,269		Total SA		23,335,057		5.8
	20,080	⁽¹⁾	Unibail-Rodamco-Westfield		4,421,394		1.1
	80,344		Vinci SA		7,712,323		1.9
	149,315		Vivendi SA		3,652,684		0.9
					140,811,315		35.0

			Germany: 29.9%
	26,292		Adidas AG		5,724,243		1.4
	63,635		Allianz SE		13,112,308		3.3
	132,759		BASF SE		12,674,325		3.2
	134,794		Bayer AG		14,803,581		3.7
	46,317		Bayerische Motoren Werke AG		4,186,713		1.0
	129,076		Daimler AG		8,268,245		2.1
	274,987		Deutsche Bank AG		2,941,945		0.7
	141,685		Deutsche Post AG		4,603,403		1.1
	468,755		Deutsche Telekom AG		7,244,341		1.8
	318,152		E.ON AG		3,389,756		0.8
	59,122		Fresenius SE & Co. KGaA		4,733,590		1.2
	21,615		Muenchener Rueckversicherungs-Gesellschaft AG		4,544,406		1.1
	156,209		SAP SE		18,029,319		4.5
	122,862		Siemens AG		16,187,805		4.0
					120,443,980		29.9

			Ireland: 1.1%
	121,906		CRH PLC		4,287,966		1.1

			Italy: 4.8%
	1,122,858		Enel S.p.A.		6,221,968		1.6
	367,181		ENI S.p.A.		6,808,048		1.7
	2,119,565		Intesa Sanpaolo SpA		6,132,484		1.5
					19,162,500		4.8

			Netherlands: 13.0%
	82,584		Airbus SE		9,637,136		2.4
	62,365		ASML Holding NV		12,341,101		3.1
	562,466		ING Groep NV		8,073,941		2.0
	136,002		Koninklijke Philips NV		5,762,136		1.4
	180,216		Koninklijke Ahold Delhaize NV		4,303,130		1.1
	218,729		Unilever NV		12,186,935		3.0
					52,304,379		13.0

			Spain: 9.2%
	963,793		Banco Bilbao Vizcaya Argentaria SA		6,797,224		1.7
	2,332,360		Banco Santander SA		12,465,239		3.1
	850,865		Iberdrola S.A.		6,561,672		1.6
	160,644		Industria de Diseno Textil SA		5,470,596		1.4
	674,085		Telefonica S.A.		5,721,261		1.4
					37,015,992		9.2

		Total Common Stock
		(Cost $347,414,105)			389,776,745		96.9

PREFERRED STOCK: 1.1%
			Germany: 1.1%
	26,462		Volkswagen AG		4,371,800		1.1

		Total Preferred Stock
		(Cost $3,721,152)			4,371,800		1.1

RIGHTS: –%
			Italy: –%
	2,033,574	⁽¹⁾	INTESA SANPAOLO RTS		–		–

		Total Rights
		(Cost $–)			–		–

		Total Long-Term Investments
		(Cost $351,135,257)			394,148,545		98.0

SHORT-TERM INVESTMENTS: 1.4%
			Mutual Funds: 1.4%
	5,606,000	⁽²⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $5,606,000)		5,606,000		1.4

		Total Short-Term Investments
		(Cost $5,606,000)			5,606,000		1.4

		Total Investments in Securities (Cost $356,741,257)		$	399,754,545		99.4
		Assets in Excess of Other Liabilities			2,251,149		0.6
		Net Assets		$	402,005,694		100.0

(1)	Non-income producing security.
(2)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya FTSE 100 Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 97.9%
			Germany: 0.4%
	40,937		TUI AG		895,373		0.4

			Ireland: 1.0%
	8,403		DCC PLC		761,977		0.3
	7,813		Paddy Power Betfair PLC		853,832		0.3
	22,339		Smurfit Kappa Group PLC		899,653		0.4
					2,515,462		1.0

			Mexico: 0.1%
	17,352		Fresnillo PLC		261,489		0.1

			Netherlands: 11.1%
	432,908		Royal Dutch Shell PLC - Class A		14,982,468		6.0
	352,719		Royal Dutch Shell PLC - Class B		12,631,912		5.1
					27,614,380		11.1

			Switzerland: 3.1%
	18,535		Coca-Cola HBC AG		616,930		0.3
	22,189		Ferguson PLC		1,795,262		0.7
	1,098,774		Glencore PLC		5,216,742		2.1
					7,628,934		3.1

			United Arab Emirates: 0.1%
	8,097		NMC Health PLC		381,107		0.1

			United Kingdom: 82.1%
	89,602		3i Group PLC		1,060,809		0.4
	19,140		Admiral Group PLC		481,032		0.2
	92,891	⁽¹⁾	Anglo American PLC		2,062,265		0.8
	32,568		Antofagasta PLC		423,130		0.2
	45,971		Ashtead Group PLC		1,368,985		0.6
	32,712		Associated British Foods PLC		1,179,538		0.5
	119,265		AstraZeneca PLC		8,249,216		3.3
	377,268		Aviva PLC		2,503,204		1.0
	300,333		BAE Systems PLC		2,555,023		1.0
	1,604,778		Barclays PLC		3,966,582		1.6
	94,698		Barratt Developments PLC		641,949		0.3
	11,717		Berkeley Group Holdings PLC		583,658		0.2
	195,663		BHP Billiton PLC		4,391,150		1.8
	1,838,015		BP PLC		13,984,555		5.6
	214,774		British American Tobacco PLC		10,818,883		4.3
	92,281		British Land Co. PLC		816,408		0.3
	784,935		BT Group PLC		2,251,777		0.9
	31,592		Bunzl PLC		954,113		0.4
	39,027		Burberry Group PLC		1,109,168		0.5
	16,328		Carnival PLC		933,225		0.4
	527,669		Centrica PLC		1,095,641		0.4
	148,859		Compass Group PLC		3,173,020		1.3
	79,267		CRH PLC - London		2,780,466		1.1
	11,956		Croda International PLC		755,345		0.3
	227,265		Diageo PLC		8,164,691		3.3
	129,498		Direct Line Insurance Group PLC		584,382		0.2
	93,947		DS Smith PLC		643,693		0.3
	23,265		easyJet PLC		511,827		0.2
	47,681		Evraz PLC		318,243		0.1
	86,110		Experian PLC		2,124,213		0.9
	458,582		GlaxoSmithKline PLC		9,245,435		3.7
	51,731		GVC Holdings PLC		715,334		0.3
	35,647		Halma PLC		641,870		0.3
	24,724		Hargreaves Lansdown PLC		640,888		0.3
	1,891,100		HSBC Holdings PLC		17,671,086		7.1
	89,357		Imperial Brands PLC		3,318,547		1.3
	117,172		Informa PLC		1,287,963		0.5
	17,928		InterContinental Hotels Group PLC		1,114,497		0.5
	154,116		International Consolidated Airlines Group SA		1,344,573		0.5
	15,183		Intertek Group PLC		1,141,617		0.5
	350,569		ITV PLC		801,484		0.3
	152,102		J Sainsbury PLC		643,660		0.3
	17,871		Johnson Matthey PLC		850,954		0.3
	54,102	⁽²⁾	Just Eat PLC		554,787		0.2
	202,307		Kingfisher PLC		791,143		0.3
	67,050		Land Securities Group PLC		844,716		0.3
	556,870		Legal & General Group PLC		1,947,839		0.8
	6,756,800		Lloyds Banking Group Plc		5,606,230		2.3
	29,340		London Stock Exchange Group PLC		1,727,230		0.7
	152,917		Marks & Spencer Group PLC		594,001		0.2
	410,921		Melrose Industries PLC		1,149,783		0.5
	40,357		Micro Focus International PLC		700,247		0.3
	34,483		Mondi PLC		930,284		0.4
	315,635		National Grid PLC		3,488,100		1.4
	12,741		Next PLC		1,014,167		0.4
	51,702	⁽²⁾	Ocado Group PLC		698,721		0.3
	73,277		Pearson PLC		853,361		0.3
	29,146		Persimmon PLC		970,843		0.4
	243,836		Prudential PLC		5,558,559		2.2
	1	^(2),(3)	Quilter PLC		2		0.0
	8,808		Randgold Resources Ltd.		677,928		0.3
	58,899		Reckitt Benckiser Group PLC		4,839,422		1.9
	97,820		Relx PLC		2,088,941		0.8
	173,578		Rentokil Initial PLC		800,303		0.3
	8,466		Rightmove PLC		591,793		0.2
	108,377		Rio Tinto PLC		5,973,573		2.4
	156,174		Rolls-Royce Holdings PLC		2,034,177		0.8
	425,131	⁽²⁾	Royal Bank of Scotland Group PLC		1,431,216		0.6
	86,228		Royal Mail PLC		573,668		0.2
	96,430		RSA Insurance Group PLC		862,403		0.4
	101,990		Sage Group PLC/The		842,354		0.3
	10,507		Schroders PLC		436,007		0.2
	95,558		SSE PLC		1,705,761		0.7
	94,845		Segro PLC		835,285		0.3
	22,279		Severn Trent PLC		580,897		0.2

See Accompanying Notes to Financial Statements

Voya FTSE 100 Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			United Kingdom: (continued)
	84,353		Shire PLC		4,752,346		1.9
	97,226		Sky PLC		1,872,456		0.8
	82,337		Smith & Nephew PLC		1,516,672		0.6
	37,255		Smiths Group PLC		832,181		0.3
	49,092		St. James's Place PLC		740,705		0.3
	254,460		Standard Chartered PLC		2,311,363		0.9
	255,149		Standard Life Aberdeen PLC		1,092,589		0.4
	306,012		Taylor Wimpey PLC		720,358		0.3
	909,351		Tesco PLC		3,076,874		1.2
	107,907		Unilever PLC		5,960,826		2.4
	64,198		United Utilities Group PLC		645,400		0.3
	2,512,023		Vodafone Group PLC		6,084,846		2.4
	17,256		Whitbread PLC		899,510		0.4
	204,475		WM Morrison Supermarkets PLC		678,243		0.3
	115,330		WPP PLC		1,812,015		0.7
					204,604,224		82.1

		Total Common Stock
		(Cost $226,148,212)			243,900,969		97.9

PREFERRED STOCK: 0.0%
			United Kingdom: 0.0%
	11,362,982	⁽²⁾	Rolls-Royce Holdings PLC - C Shares		14,996		0.0

		Total Preferred Stock
		(Cost $15,815)			14,996		0.0

CLOSED-END FUNDS: 0.4%
			United Kingdom: 0.4%
	132,260		Scottish Mortgage Investment Trust PLC		919,587		0.4

		Total Closed-End Funds
		(Cost $609,269)			919,587		0.4

		Total Long-Term Investments
		(Cost $226,773,296)			244,835,552		98.3

Principal Amount†				Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 1.6%
			Securities Lending Collateral⁽⁴⁾: 0.8%
	29,967		Bank of Nova Scotia, Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $29,972, collateralized by various U.S. Government Agency Obligations, 2.500%-6.430%, Market Value plus accrued interest $30,572, due 02/01/21-06/01/48)		29,967		0.0
	1,000,000		Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,000,187, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,020,000, due 11/15/42-08/15/44)		1,000,000		0.4
	1,000,000		National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $1,000,165, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $1,020,000, due 09/06/18-09/09/49)		1,000,000		0.4
					2,029,967		0.8

Shares				Value		Percentage of Net Assets
			Mutual Funds: 0.8%
	1,997,000	⁽⁵⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $1,997,000)		1,997,000		0.8

		Total Short-Term Investments
		(Cost $4,026,967)			4,026,967		1.6

		Total Investments in Securities (Cost $230,800,263)		$	248,862,519		99.9
		Assets in Excess of Other Liabilities			233,322		0.1
		Net Assets		$	249,095,841		100.0

†	Unless otherwise indicated, principal amount is shown in USD.
(1)	Security, or a portion of the security, is on loan.
(2)	Non-income producing security.
(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)	Represents securities purchased with cash collateral received for securities on loan.
(5)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 95.3%
			Australia: 6.6%
	77,470		AGL Energy Ltd.		1,289,006		0.1
	296,490		Alumina Ltd.		613,552		0.0
	136,544		Amcor Ltd.		1,454,834		0.1
	347,513		AMP Ltd.		914,029		0.1
	140,005		APA Group		1,019,996		0.1
	67,432		Aristocrat Leisure Ltd.		1,539,970		0.1
	23,053		ASX Ltd.		1,098,885		0.1
	233,000		Aurizon Holdings Ltd.		745,120		0.0
	208,326		AusNet Services		247,430		0.0
	345,184		Australia & New Zealand Banking Group Ltd.		7,224,557		0.4
	45,417		Bank of Queensland Ltd.		341,961		0.0
	55,583		Bendigo and Adelaide Bank Ltd.		445,284		0.0
	874,585	^(1),(2)	BGP Holdings PLC		–		–
	379,450		BHP Billiton Ltd.		9,494,606		0.5
	66,650		BlueScope Steel Ltd.		850,625		0.1
	141,097		Boral Ltd.		680,725		0.0
	188,502		Brambles Ltd.		1,237,566		0.1
	31,246		Caltex Australia Ltd.		751,959		0.0
	66,655		Challenger Ltd.		583,315		0.0
	11,220		CIMIC Group Ltd.		350,740		0.0
	62,952		Coca-Cola Amatil Ltd.		428,178		0.0
	6,917		Cochlear Ltd.		1,024,074		0.1
	207,316		Commonwealth Bank of Australia		11,181,086		0.6
	53,809		Computershare Ltd.		733,011		0.0
	43,872		Crown Resorts Ltd.		437,748		0.0
	53,452		CSL Ltd.		7,608,526		0.4
	121,324		Dexus		872,047		0.1
	7,346	⁽³⁾	Domino's Pizza Enterprises Ltd.		283,707		0.0
	6,735		Flight Centre Travel Group Ltd.		317,043		0.0
	182,401		Fortescue Metals Group Ltd.		592,251		0.0
	207,869		Goodman Group		1,481,863		0.1
	213,287		GPT Group		798,020		0.1
	64,792	⁽³⁾	Harvey Norman Holdings Ltd.		159,176		0.0
	200,674		Healthscope Ltd.		327,440		0.0
	193,076		Incitec Pivot Ltd.		518,021		0.0
	278,357		Insurance Australia Group Ltd.		1,756,071		0.1
	67,979		Lend Lease Corp., Ltd.		995,321		0.1
	37,960		Macquarie Group Ltd.		3,459,532		0.2
	331,069		Medibank Pvt Ltd.		714,855		0.0
	440,809		Mirvac Group		707,503		0.0
	321,298		National Australia Bank Ltd.		6,523,832		0.4
	90,328		Newcrest Mining Ltd.		1,466,669		0.1
	162,450		Oil Search Ltd.		1,067,289		0.1
	45,471		Orica Ltd.		596,963		0.0
	206,831	⁽²⁾	Origin Energy Ltd.		1,534,097		0.1
	161,011		QBE Insurance Group Ltd.		1,159,159		0.1
	17,031		Ramsay Health Care Ltd.		680,102		0.0
	6,390		REA Group Ltd.		428,839		0.0
	48,390		Rio Tinto Ltd.		2,989,791		0.2
	216,278	⁽²⁾	Santos Ltd.		1,001,724		0.1
	624,046		Scentre Group		2,027,559		0.1
	38,851		Seek Ltd.		626,088		0.0
	48,080		Sonic Healthcare Ltd.		872,175		0.1
	367,875		South32 Ltd.		982,346		0.1
	242,587		South32 Ltd. - GBP		649,590		0.0
	290,060		Stockland		852,254		0.1
	152,710		Suncorp Group Ltd.		1,646,901		0.1
	131,021		Sydney Airport		693,618		0.0
	228,536		Tabcorp Holdings Ltd.		753,392		0.0
	495,213		Telstra Corp., Ltd.		957,812		0.1
	41,333		TPG Telecom Ltd.		157,997		0.0
	260,616		Transurban Group - Stapled Security		2,307,836		0.1
	85,120		Treasury Wine Estates Ltd.		1,093,624		0.1
	384,089		Vicinity Centres		736,615		0.0
	133,496		Wesfarmers Ltd.		4,870,776		0.3
	402,444		Westpac Banking Corp.		8,739,865		0.5
	108,063		Woodside Petroleum Ltd.		2,831,952		0.2
	152,943		Woolworths Group Ltd		3,454,022		0.2
					116,982,520		6.6

			Austria: 0.2%
	8,860		Andritz AG		469,592		0.0
	35,435		Erste Group Bank AG		1,477,284		0.1
	17,419		OMV AG		985,181		0.1
	17,920		Raiffeisen International Bank Holding AG		549,057		0.0
	13,729		Voestalpine AG		631,302		0.0
					4,112,416		0.2

			Belgium: 1.0%
	22,165		Ageas		1,115,855		0.1
	90,065		Anheuser-Busch InBev SA/NV		9,084,416		0.5
	18,644		Proximus SADP		419,344		0.0
	7,534		Colruyt S.A.		429,969		0.0
	9,587		Groupe Bruxelles Lambert S.A.		1,008,556		0.0
	29,460		KBC Group NV		2,262,533		0.1
	8,715		Solvay S.A.		1,097,556		0.1
	6,246	⁽²⁾	Telenet Group Holding NV		290,791		0.0
	14,992		UCB S.A.		1,175,229		0.1
	24,628		Umicore SA		1,405,951		0.1
					18,290,200		1.0

			China: 0.1%
	435,417		BOC Hong Kong Holdings Ltd.		2,046,433		0.1
	88,000		Minth Group Ltd.		372,214		0.0
					2,418,647		0.1

			Denmark: 1.6%
	450		AP Moller - Maersk A/S - Class A		531,795		0.0
	780		AP Moller - Maersk A/S - Class B		964,938		0.1
	12,605		Carlsberg A/S		1,483,086		0.1
	11,635		Chr Hansen Holding A/S		1,071,129		0.1
	14,015	⁽³⁾	Coloplast A/S		1,399,290		0.1
	87,789		Danske Bank A/S		2,734,969		0.2
	22,377		DSV A/S		1,801,387		0.1

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Denmark: (continued)
	7,212	⁽²⁾	Genmab A/S		1,109,697		0.1
	8,454		H Lundbeck A/S		592,511		0.0
	20,060		ISS A/S		687,094		0.0
	208,623		Novo Nordisk A/S		9,636,414		0.5
	26,543		Novozymes A/S		1,342,498		0.1
	22,331	⁽⁴⁾	Orsted A/S		1,349,265		0.1
	13,290		Pandora A/S		926,279		0.0
	13,987		Tryg A/S		327,553		0.0
	24,484		Vestas Wind Systems A/S		1,511,552		0.1
	13,455	⁽²⁾	William Demant Holding A/S		539,977		0.0
					28,009,434		1.6

			Finland: 1.0%
	16,889		Elisa OYJ		780,229		0.0
	52,529		Fortum OYJ		1,251,196		0.1
	39,685		Kone OYJ		2,017,807		0.1
	13,050		Metso OYJ		435,285		0.0
	15,156		Neste Oyj		1,185,790		0.1
	500,976		Nokia OYJ - Finland		2,873,542		0.2
	172,697		Nokia OYJ - France		993,285		0.1
	14,121		Nokian Renkaat OYJ		556,057		0.0
	12,038		Orion Oyj		323,763		0.0
	52,299		Sampo OYJ		2,547,001		0.1
	65,024		Stora Enso OYJ (Euro Denominated Security)		1,266,796		0.1
	62,543		UPM-Kymmene OYJ		2,226,852		0.1
	52,622		Wartsila OYJ		1,030,169		0.1
					17,487,772		1.0

			France: 9.8%
	22,313		Accor S.A.		1,092,801		0.1
	3,564		Aeroports de Paris		805,074		0.1
	50,574		Air Liquide SA		6,339,216		0.4
	18,636		Alstom SA		854,992		0.1
	7,381	⁽⁴⁾	Amundi SA		510,211		0.0
	8,082		Arkema SA		953,679		0.1
	11,156		Atos SE		1,516,960		0.1
	229,164		AXA S.A.		5,599,349		0.3
	5,089		BioMerieux		457,239		0.0
	132,941		BNP Paribas		8,223,333		0.5
	101,020		Bollore SA		469,132		0.0
	25,703		Bouygues SA		1,104,408		0.1
	31,688		Bureau Veritas SA		844,716		0.1
	18,809		Capgemini SE		2,520,595		0.1
	68,865	⁽³⁾	Carrefour S.A.		1,110,858		0.1
	6,353		Casino Guichard Perrachon S.A.		245,866		0.0
	58,536		Cie de Saint-Gobain		2,607,486		0.2
	20,046		Cie Generale des Etablissements Michelin SCA		2,425,130		0.1
	21,296		CNP Assurances		483,836		0.0
	134,207		Credit Agricole SA		1,781,269		0.1
	71,163		Danone		5,195,795		0.3
	304		Dassault Aviation SA		578,046		0.0
	15,233		Dassault Systemes SE		2,131,764		0.1
	27,613		Edenred		872,205		0.1
	9,031		Eiffage SA		981,160		0.1
	69,023	⁽³⁾	Electricite de France SA		947,125		0.1
	215,151		Engie SA		3,291,062		0.2
	24,522		Essilor International Cie Generale d'Optique SA		3,457,513		0.2
	5,225		Eurazeo SA		395,493		0.0
	1,368		Eurofins Scientific SE		758,708		0.0
	20,975		Eutelsat Communications		434,083		0.0
	9,134		Faurecia SA		649,304		0.0
	4,218		Covivio		438,264		0.0
	5,639		Gecina S.A.		942,043		0.1
	56,189		Getlink		770,345		0.0
	3,725		Hermes International		2,275,435		0.1
	3,922		ICADE		367,368		0.0
	3,071		Iliad SA		484,559		0.0
	4,184		Imerys SA		337,679		0.0
	7,136		Ingenico Group SA		639,845		0.0
	4,542		Ipsen SA		710,411		0.0
	8,734	⁽³⁾	JC Decaux SA		291,643		0.0
	25,349		Klepierre SA		952,443		0.1
	31,208		Legrand S.A.		2,285,898		0.1
	29,749		L'Oreal S.A.		7,333,933		0.4
	32,964		LVMH Moet Hennessy Louis Vuitton SE		10,944,686		0.6
	112,861		Natixis SA		798,555		0.1
	234,919		Orange SA		3,921,307		0.2
	24,970		Pernod Ricard SA		4,075,229		0.2
	69,287		Peugeot S.A.		1,578,725		0.1
	8,930		Kering SA		5,030,274		0.3
	24,421		Publicis Groupe		1,675,831		0.1
	2,760		Remy Cointreau SA		357,321		0.0
	22,618	⁽³⁾	Renault S.A.		1,916,232		0.1
	34,926	^(2),(3)	Rexel SA		501,367		0.0
	39,310		Safran S.A.		4,760,639		0.3
	133,456		Sanofi		10,711,128		0.6
	65,431		Schneider Electric SE		5,441,691		0.3
	19,979	⁽²⁾	SCOR SE		738,846		0.0
	2,773		SEB SA		483,794		0.0
	3,193		Societe BIC S.A.		296,066		0.0
	90,587		Societe Generale		3,807,369		0.2
	10,750		Sodexo SA		1,073,111		0.1
	44,646		SUEZ		577,542		0.0
	6,843		Teleperformance		1,207,761		0.1
	12,504		Thales S.A.		1,608,690		0.1
	285,151		Total SA		17,316,033		1.0
	9,248	⁽²⁾	UbiSoft Entertainment		1,010,884		0.1
	84,000	⁽²⁾	Unibail Group Stapled		911,949		0.1
	11,514	⁽²⁾	Unibail-Rodamco-Westfield		2,535,255		0.1
	28,203		Valeo SA		1,537,731		0.1
	62,442		Veolia Environnement		1,334,326		0.1
	59,322		Vinci SA		5,694,394		0.3
	122,112		Vivendi SA		2,987,218		0.2
	3,210		Wendel		441,668		0.0
					172,743,896		9.8

			Germany: 8.6%
	22,232		Adidas AG		4,840,308		0.3
	51,976		Allianz SE		10,709,913		0.6
	5,951		Axel Springer AG		430,050		0.0
	108,650		BASF SE		10,372,671		0.6
	106,288		Bayer AG		11,672,945		0.7
	38,682		Bayerische Motoren Werke AG		3,496,566		0.2
	11,851		Beiersdorf AG		1,343,290		0.1
	18,279		Brenntag AG		1,015,613		0.1
	122,559	⁽²⁾	Commerzbank AG		1,169,134		0.1
	12,870		Continental AG		2,928,930		0.2
	22,633	⁽⁴⁾	Covestro AG		2,011,705		0.1
	109,600		Daimler AG		7,020,667		0.4
	10,672	^(2),(4)	Delivery Hero AG		565,670		0.0
	234,770		Deutsche Bank AG		2,511,684		0.1

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Germany: (continued)
	22,695		Deutsche Boerse AG		3,017,398		0.2
	28,066		Deutsche Lufthansa AG		672,396		0.0
	115,840		Deutsche Post AG		3,763,688		0.2
	393,370		Deutsche Telekom AG		6,079,309		0.4
	41,497		Deutsche Wohnen SE		2,004,057		0.1
	6,540		Drillisch AG		370,984		0.0
	259,201		E.ON AG		2,761,661		0.2
	19,050		Evonik Industries AG		651,772		0.0
	4,760		Fraport AG Frankfurt Airport Services Worldwide		457,935		0.0
	49,051		Fresenius SE & Co. KGaA		3,927,258		0.2
	25,270		Fresenius Medical Care AG & Co. KGaA		2,544,476		0.2
	20,981		GEA Group AG		706,603		0.0
	7,171		Hannover Rueck SE		891,512		0.1
	17,514		HeidelbergCement AG		1,470,591		0.1
	12,377		Henkel AG & Co. KGaA		1,374,244		0.1
	2,387		Hochtief AG		430,455		0.0
	7,634		Hugo Boss AG		692,321		0.0
	133,772		Infineon Technologies AG		3,397,987		0.2
	16,761	^(3),(4)	Innogy SE		716,092		0.0
	22,193	⁽³⁾	K+S AG		545,928		0.0
	8,539		KION Group AG		612,925		0.0
	10,437		LANXESS AG		811,435		0.1
	21,612	⁽²⁾	Linde AG		5,134,561		0.3
	4,336		MAN SE		490,657		0.0
	15,199		Merck KGaA		1,479,585		0.1
	22,082	⁽³⁾	METRO AG		272,135		0.0
	6,127		MTU Aero Engines AG		1,173,576		0.1
	18,195		Muenchener Rueckversicherungs-Gesellschaft AG		3,825,374		0.2
	12,003		Osram Licht AG		488,821		0.0
	27,869		ProSiebenSat.1 Media SE		705,226		0.0
	1,005		Puma SE		587,130		0.0
	61,134		RWE AG		1,389,243		0.1
	116,310		SAP SE		13,424,259		0.8
	90,537		Siemens AG		11,928,793		0.7
	17,922	^(2),(4)	Siemens Healthineers AG		738,542		0.0
	14,441		Symrise AG		1,263,220		0.1
	85,814		Telefonica Deutschland Holding AG		337,589		0.0
	51,397		ThyssenKrupp AG		1,245,859		0.1
	51,784		TUI AG		1,132,619		0.1
	24,164		Uniper SE		719,431		0.0
	14,532		United Internet AG		829,659		0.1
	3,984		Volkswagen AG		654,942		0.0
	56,720		Vonovia SE		2,695,869		0.2
	13,858		Wirecard AG		2,217,566		0.1
	13,319	^(2),(4)	Zalando SE		742,296		0.0
					151,467,125		8.6

			Hong Kong: 3.2%
	1,428,099		AIA Group Ltd.		12,440,758		0.7
	37,000		ASM Pacific Technology Ltd.		466,330		0.0
	150,352		Bank of East Asia Ltd.		599,251		0.0
	303,199		CK Asset Holdings Ltd.		2,400,218		0.2
	317,699		CK Hutchison Holdings Ltd.		3,363,169		0.2
	80,402		CK Infrastructure Holdings Ltd.		595,194		0.0
	192,865		CLP Holdings Ltd.		2,077,424		0.1
	40,787		Dairy Farm International Holdings Ltd.		358,518		0.0
	279,159		Galaxy Entertainment Group Ltd.		2,151,884		0.1
	101,000		Hang Lung Group Ltd.		282,798		0.0
	233,823		Hang Lung Properties Ltd.		480,290		0.0
	89,836		Hang Seng Bank Ltd.		2,243,237		0.1
	158,509		Henderson Land Development Co., Ltd.		835,862		0.1
	324,000	⁽⁴⁾	HK Electric Investments & HK Electric Investments Ltd.		308,902		0.0
	459,867		HKT Trust / HKT Ltd.		586,613		0.0
	1,084,744		Hong Kong & China Gas		2,073,525		0.1
	138,588		Hong Kong Exchanges and Clearing Ltd.		4,147,599		0.2
	164,345		Power Assets Holdings Ltd.		1,148,965		0.1
	139,533		Hongkong Land Holdings Ltd. - HKHGF		997,511		0.1
	76,644		Hysan Development Co., Ltd.		427,788		0.0
	25,604		Jardine Matheson Holdings Ltd.		1,613,391		0.1
	26,300		Jardine Strategic Holdings Ltd		958,069		0.1
	82,060		Kerry Properties Ltd.		392,159		0.0
	668,194		Li & Fung Ltd.		244,748		0.0
	256,532		Link REIT		2,339,415		0.1
	29,408		Melco Resorts & Entertainment Ltd ADR		823,424		0.1
	178,644		MTR Corp.		986,766		0.1
	703,094		New World Development Ltd.		983,565		0.1
	178,660		NWS Holdings Ltd.		308,320		0.0
	490,000		PCCW Ltd.		275,715		0.0
	151,385		Shangri-La Asia Ltd.		283,608		0.0
	378,626		Sino Land Co.		615,257		0.0
	186,471		Sun Hung Kai Properties Ltd.		2,809,361		0.2
	58,120		Swire Pacific Ltd.		614,320		0.0
	142,825		Swire Properties Ltd.		526,734		0.0
	164,000		Techtronic Industries Co., Ltd.		910,838		0.1
	1,049,000	⁽⁴⁾	WH Group Ltd.		848,837		0.1
	143,857		Wharf Holdings Ltd.		460,676		0.0
	142,857		Wharf Real Estate Investment Co. Ltd.		1,014,393		0.1
	96,504		Wheelock & Co., Ltd.		670,658		0.1
	90,949		Yue Yuen Industrial Holdings		256,355		0.0
					55,922,445		3.2

			Ireland: 0.5%
	93,921		AIB Group PLC		508,620		0.0
	114,413		Bank of Ireland Group PLC		887,871		0.0
	37,844		CRH PLC		1,331,139		0.1
	10,608		DCC PLC		961,924		0.1
	52,671		James Hardie Industries SE		883,087		0.0
	7,976		Kerry Group PLC - KYG		834,569		0.0
	10,633		Kerry Group PLC - KYGA		1,110,721		0.1

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Ireland: (continued)
	9,994		Paddy Power Betfair PLC		1,108,746		0.1
	2,975	⁽²⁾	Ryanair Holdings PLC ADR		339,834		0.0
	26,679		Smurfit Kappa PLC		1,077,065		0.1
					9,043,576		0.5

			Israel: 0.5%
	4,794		Azrieli Group Ltd.		238,290		0.0
	121,803		Bank Hapoalim BM		825,731		0.1
	168,103		Bank Leumi Le-Israel BM		994,679		0.1
	244,825		Bezeq Israeli Telecommunication Corp., Ltd.		275,918		0.0
	15,415	⁽²⁾	Check Point Software Technologies		1,505,737		0.1
	2,680		Elbit Systems Ltd.		315,542		0.0
	4,426		Frutarom Industries Ltd.		435,298		0.0
	80,068		Israel Chemicals Ltd.		366,840		0.0
	16,016		Mizrahi Tefahot Bank Ltd.		294,657		0.0
	7,313	⁽²⁾	Nice Ltd.		756,868		0.1
	114,071		Teva Pharmaceutical Industries Ltd. ADR		2,774,207		0.1
					8,783,767		0.5

			Italy: 2.0%
	144,068		Assicurazioni Generali S.p.A.		2,408,527		0.1
	57,946		Atlantia S.p.A		1,708,378		0.1
	69,878		Davide Campari-Milano SpA		573,554		0.0
	956,255		Enel S.p.A.		5,298,789		0.3
	298,929		ENI S.p.A.		5,542,561		0.3
	14,425		Ferrari NV		1,949,818		0.1
	47,367		Leonardo SpA		466,205		0.0
	1,574,357		Intesa Sanpaolo SpA		4,555,047		0.3
	120,921		Intesa Sanpaolo SpA - ISPR		365,363		0.0
	20,002		Luxottica Group S.p.A.		1,287,845		0.1
	74,317		Mediobanca S.p.A.		687,435		0.1
	21,466		Moncler SpA		974,022		0.1
	46,162	^(2),(4)	Pirelli & C SpA		384,403		0.0
	63,471	⁽⁴⁾	Poste Italiane SpA		529,770		0.0
	24,678		Prysmian SpA		612,331		0.0
	12,669		Recordati S.p.A.		502,012		0.0
	271,953		Snam SpA		1,133,340		0.1
	1,339,414	⁽²⁾	Telecom Italia S.p.A. - TIT		992,348		0.1
	751,165		Telecom Italia S.p.A. - TITR		488,842		0.0
	168,822	⁽³⁾	Terna Rete Elettrica Nazionale SpA		911,754		0.1
	236,700		UniCredit SpA		3,923,167		0.2
					35,295,511		2.0

			Japan: 23.0%
	3,900		ABC-Mart, Inc.		213,164		0.0
	44,443	⁽³⁾	Acom Co., Ltd.		170,616		0.0
	71,680		Aeon Co., Ltd.		1,533,396		0.1
	13,498		AEON Financial Service Co., Ltd.		287,697		0.0
	13,842		Aeon Mall Co., Ltd.		248,312		0.0
	17,143		Air Water, Inc.		314,393		0.0
	18,911		Aisin Seiki Co., Ltd.		861,066		0.1
	55,828		Ajinomoto Co., Inc.		1,056,773		0.1
	21,468		Alfresa Holdings Corp.		504,118		0.0
	13,489		ANA Holdings, Inc.		494,948		0.0
	22,800		Alps Electric Co., Ltd.		585,558		0.0
	39,989		Amada Holdings Co., Ltd.		383,789		0.0
	13,768		Aozora Bank Ltd.		522,518		0.0
	22,421		Asahi Glass Co., Ltd.		872,088		0.1
	43,058		Asahi Group Holdings, Ltd.		2,208,346		0.1
	148,653		Asahi Kasei Corp.		1,885,136		0.1
	18,549	⁽³⁾	Asics Corp.		313,128		0.0
	232,420		Astellas Pharma, Inc.		3,537,103		0.2
	6,911		Bank of Kochi Ltd./The		319,091		0.0
	7,937		Benesse Holdings, Inc.		281,464		0.0
	71,943		Bridgestone Corp.		2,810,299		0.2
	27,386		Brother Industries Ltd.		539,534		0.0
	9,301		Calbee, Inc.		349,881		0.0
	118,793	⁽³⁾	Canon, Inc.		3,895,407		0.2
	22,087		Casio Computer Co., Ltd.		358,715		0.0
	17,028		Central Japan Railway Co.		3,525,296		0.2
	4,800		Tokyo Century Corp.		271,724		0.0
	75,566		Chiba Bank Ltd.		532,960		0.0
	72,942		Chubu Electric Power Co., Inc.		1,093,721		0.1
	26,406		Chugai Pharmaceutical Co., Ltd.		1,382,633		0.1
	32,572		Chugoku Electric Power Co., Inc.		420,768		0.0
	15,600		Coca-Cola Bottlers Japan, Inc.		624,148		0.0
	133,209		Concordia Financial Group Ltd.		676,945		0.0
	18,724		Credit Saison Co., Ltd.		294,172		0.0
	11,800		CyberAgent, Inc.		707,685		0.1
	11,700	⁽²⁾	CYBERDYNE, Inc.		136,789		0.0
	29,874		Dai Nippon Printing Co., Ltd.		667,584		0.0
	30,884		Daicel Corp.		341,171		0.0
	12,000		Daifuku Co., Ltd.		524,300		0.0
	127,183		Dai-ichi Life Holdings, Inc.		2,263,558		0.1
	66,893		Daiichi Sankyo Co., Ltd.		2,555,546		0.2
	29,398		Daikin Industries Ltd.		3,513,446		0.2
	19,409		Sumitomo Dainippon Pharma Co. Ltd.		410,228		0.0
	8,581		Daito Trust Construction Co., Ltd.		1,395,903		0.1
	66,654		Daiwa House Industry Co., Ltd.		2,267,691		0.1
	199		Daiwa House REIT Investment Corp.		472,617		0.0
	191,721		Daiwa Securities Group, Inc.		1,111,190		0.1
	12,500		Dena Co., Ltd.		234,072		0.0
	51,567		Denso Corp.		2,516,172		0.2
	25,603		Dentsu, Inc.		1,211,992		0.1
	3,400		Disco Corp.		578,826		0.0
	13,642		Don Quijote Holdings Co. Ltd.		654,799		0.0
	36,433		East Japan Railway Co.		3,489,021		0.2
	29,679		Eisai Co., Ltd.		2,089,107		0.1
	16,742		Electric Power Development Co., Ltd.		432,116		0.0
	9,238		FamilyMart UNY Holdings Co., Ltd.		972,802		0.1

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Japan: (continued)
	22,893		Fanuc Ltd.		4,537,663		0.3
	6,842		Fast Retailing Co., Ltd.		3,135,933		0.2
	68,617		Fuji Electric Holdings Co., Ltd.		521,223		0.0
	72,635		Subaru Corp.		2,112,590		0.1
	45,360		Fuji Film Holdings Corp.		1,769,162		0.1
	232,135		Fujitsu Ltd.		1,404,769		0.1
	90,719		Fukuoka Financial Group, Inc.		455,255		0.0
	27,100		Hakuhodo DY Holdings, Inc.		434,519		0.0
	16,442		Hamamatsu Photonics KK		705,813		0.1
	27,957		Hankyu Hanshin Holdings, Inc.		1,123,008		0.1
	2,500		Hikari Tsushin, Inc.		438,748		0.0
	29,232		Hino Motors Ltd.		311,709		0.0
	3,864		Hirose Electric Co., Ltd.		477,878		0.0
	7,129		Hisamitsu Pharmaceutical Co., Inc.		600,692		0.0
	12,000		Hitachi Chemical Co., Ltd.		241,579		0.0
	12,410		Hitachi Construction Machinery Co., Ltd.		402,332		0.0
	7,900		Hitachi High-Technologies Corp.		321,374		0.0
	570,956		Hitachi Ltd.		4,022,376		0.2
	25,510		Hitachi Metals Ltd.		264,508		0.0
	192,842		Honda Motor Co., Ltd.		5,654,317		0.3
	6,300		Hoshizaki Corp.		636,694		0.0
	45,037		Hoya Corp.		2,554,903		0.2
	15,544		Idemitsu Kosan Co., Ltd.		552,770		0.0
	17,242		IHI Corp.		599,746		0.0
	17,391		Iida Group Holdings Co. Ltd.		334,804		0.0
	118,616		Inpex Corp.		1,231,932		0.1
	38,166		Isetan Mitsukoshi Holdings Ltd.		476,155		0.0
	64,068		Isuzu Motors Ltd.		849,361		0.1
	167,416		Itochu Corp.		3,027,858		0.2
	28,652		J Front Retailing Co., Ltd.		435,252		0.0
	13,578		Japan Airlines Co. Ltd.		481,083		0.0
	5,400		Japan Airport Terminal Co., Ltd.		252,544		0.0
	47,200		Japan Post Bank Co. Ltd.		548,773		0.0
	187,400		Japan Post Holdings Co. Ltd.		2,050,863		0.1
	96		Japan Prime Realty Investment Corp.		348,758		0.0
	151		Japan Real Estate Investment Corp.		798,795		0.1
	308		Japan Retail Fund Investment Corp.		555,585		0.0
	130,202		Japan Tobacco, Inc.		3,638,679		0.2
	58,102		JFE Holdings, Inc.		1,097,413		0.1
	24,039		JGC Corp.		483,545		0.0
	30,592		LIXIL Group Corp.		611,396		0.0
	22,035		JSR Corp.		374,468		0.0
	24,565		JTEKT Corp.		333,432		0.0
	384,564		JXTG Holdings, Inc.		2,668,020		0.2
	106,909		Kajima Corp.		826,049		0.1
	16,623		Kakaku.com, Inc.		374,316		0.0
	13,260		Kamigumi Co., Ltd.		275,222		0.0
	32,000		Kaneka Corp.		286,582		0.0
	83,362		Kansai Electric Power Co., Inc.		1,215,757		0.1
	21,653		Kansai Paint Co., Ltd.		449,353		0.0
	58,475		Kao Corp.		4,457,057		0.3
	17,353		Kawasaki Heavy Industries Ltd.		510,363		0.0
	214,501		KDDI Corp.		5,865,511		0.3
	11,100		Keihan Holdings Co., Ltd.		397,977		0.0
	27,508		Keikyu Corp.		450,565		0.0
	12,768		Keio Corp.		616,953		0.0
	15,898		Keisei Electric Railway Co., Ltd.		545,337		0.0
	11,444		Keyence Corp.		6,454,583		0.4
	17,334		Kikkoman Corp.		875,170		0.1
	20,697		Kintetsu Group Holdings Co., Ltd.		843,928		0.1
	97,856		Kirin Holdings Co., Ltd.		2,623,019		0.2
	5,600		Kobayashi Pharmaceutical Co., Ltd.		483,367		0.0
	35,376		Kobe Steel Ltd.		323,285		0.0
	12,400		Koito Manufacturing Co., Ltd.		819,059		0.1
	108,983		Komatsu Ltd.		3,102,592		0.2
	10,866		Konami Holdings Corp.		552,120		0.0
	54,923		Konica Minolta, Inc.		509,374		0.0
	3,600		Kose Corp.		774,340		0.1
	116,022		Kubota Corp.		1,820,958		0.1
	38,767		Kuraray Co., Ltd.		533,179		0.0
	11,348		Kurita Water Industries, Ltd.		323,217		0.0
	37,794		Kyocera Corp.		2,125,456		0.1
	30,014		Kyowa Hakko Kirin Co., Ltd.		604,128		0.0
	47,360		Kyushu Electric Power Co., Inc.		528,809		0.0
	18,500		Kyushu Railway Co.		565,647		0.0
	5,964		Lawson, Inc.		372,464		0.0
	8,300	⁽²⁾	LINE Corp.		342,682		0.0
	25,900		Lion Corp.		473,925		0.0
	25,000		M3, Inc.		994,206		0.1
	5,600		Mabuchi Motor Co., Ltd.		265,792		0.0
	26,408		Makita Corp.		1,181,310		0.1
	184,556		Marubeni Corp.		1,405,096		0.1
	23,619		Marui Group Co., Ltd.		496,828		0.0
	6,500		Maruichi Steel Tube Ltd.		220,273		0.0
	65,766		Mazda Motor Corp.		806,725		0.1
	7,700	⁽³⁾	McDonald's Holdings Co. Japan Ltd.		392,651		0.0
	104,262		Mebuki Financial Group, Inc.		349,734		0.0
	19,800		Medipal Holdings Corp.		397,728		0.0
	14,388		MEIJI Holdings Co., Ltd.		1,215,128		0.1
	46,000		Minebea Co., Ltd.		775,181		0.1
	33,500		Misumi Group, Inc.		974,676		0.1
	159,793		Mitsubishi Corp.		4,430,912		0.3
	216,161		Mitsubishi Electric Corp.		2,868,006		0.2
	140,627		Mitsubishi Estate Co., Ltd.		2,454,913		0.2
	35,519		Mitsubishi Heavy Industries Ltd.		1,291,164		0.1
	81,115		Mitsubishi Motors Corp.		646,592		0.0
	1,398,806		Mitsubishi UFJ Financial Group, Inc.		7,924,074		0.5
	54,376		Mitsubishi UFJ Lease & Finance Co., Ltd.		333,345		0.0

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Japan: (continued)
	150,848		Mitsubishi Chemical Holdings Corp.		1,259,699		0.1
	19,439		Mitsubishi Gas Chemical Co., Inc.		439,277		0.0
	12,151		Mitsubishi Materials Corp.		333,364		0.0
	29,313		Mitsubishi Tanabe Pharma Corp.		506,093		0.0
	201,701		Mitsui & Co., Ltd.		3,358,784		0.2
	22,114		Mitsui Chemicals, Inc.		587,762		0.0
	105,119		Mitsui Fudosan Co., Ltd.		2,532,135		0.2
	13,293		Mitsui OSK Lines Ltd.		319,674		0.0
	56,054		MS&AD Insurance Group Holdings, Inc.		1,740,959		0.1
	2,863,261		Mizuho Financial Group, Inc.		4,823,122		0.3
	21,248		Murata Manufacturing Co., Ltd.		3,567,038		0.2
	13,221		Nabtesco Corp.		406,214		0.0
	21,400		Nagoya Railroad Co., Ltd.		552,007		0.0
	23,593		Namco Bandai Holdings, Inc.		971,831		0.1
	31,220		NEC Corp.		855,548		0.1
	51,700	⁽²⁾	Nexon Co. Ltd.		750,134		0.1
	30,169		NGK Insulators Ltd.		536,045		0.0
	19,185		NGK Spark Plug Co., Ltd.		545,406		0.0
	26,492		Nidec Corp.		3,962,930		0.2
	39,669		Nikon Corp.		630,436		0.0
	13,394		Nintendo Co., Ltd.		4,372,192		0.3
	201		Nippon Prologis REIT, Inc.		417,157		0.0
	155		Nippon Building Fund, Inc.		894,083		0.1
	9,982		Nippon Electric Glass Co., Ltd.		276,700		0.0
	9,022		Nippon Express Co., Ltd.		653,757		0.0
	10,509		NH Foods Ltd.		424,840		0.0
	17,517		Nippon Paint Holdings Co., Ltd.		753,321		0.1
	89,980		Nippon Steel & Sumitomo Metal Corp.		1,764,250		0.1
	81,898		Nippon Telegraph & Telephone Corp.		3,720,463		0.2
	18,903		Nippon Yusen KK		374,501		0.0
	14,800		Nissan Chemical Industries Ltd.		689,414		0.1
	275,392		Nissan Motor Co., Ltd.		2,679,618		0.2
	22,867		Nisshin Seifun Group, Inc.		484,532		0.0
	6,917		Nissin Food Products Co., Ltd.		501,167		0.0
	9,406		Nitori Co., Ltd.		1,463,369		0.1
	19,442		Nitto Denko Corp.		1,467,821		0.1
	39,313		Sompo Holdings, Inc.		1,586,280		0.1
	9,100		NOK Corp.		175,763		0.0
	410,026		Nomura Holdings, Inc.		1,984,139		0.1
	14,445		Nomura Real Estate Holdings, Inc.		319,825		0.0
	14,056		Nomura Research Institute Ltd.		680,048		0.0
	455		Nomura Real Estate Master Fund, Inc.		642,338		0.0
	42,449		NSK Ltd.		436,921		0.0
	75,920		NTT Data Corp.		873,304		0.1
	161,854		NTT DoCoMo, Inc.		4,124,423		0.2
	75,415		Obayashi Corp.		783,066		0.1
	7,500		Obic Co., Ltd.		619,624		0.0
	34,027		Odakyu Electric Railway Co., Ltd.		729,741		0.1
	99,826		Oji Holdings Corp.		618,620		0.0
	34,457		Olympus Corp.		1,288,955		0.1
	22,823		Omron Corp.		1,063,183		0.1
	44,790		Ono Pharmaceutical Co., Ltd.		1,048,571		0.1
	4,400		Oracle Corp. Japan		358,622		0.0
	23,980		Oriental Land Co., Ltd.		2,514,223		0.2
	156,363		ORIX Corp.		2,464,610		0.2
	44,265		Osaka Gas Co., Ltd.		916,549		0.1
	60,414		Osaka Securities Exchange Co. Ltd.		1,120,568		0.1
	12,322		Otsuka Corp.		482,374		0.0
	46,046		Otsuka Holdings Co. Ltd.		2,227,370		0.1
	260,631		Panasonic Corp.		3,514,459		0.2
	12,699		Park24 Co., Ltd.		345,356		0.0
	20,500		Persol Holdings Co. Ltd		456,543		0.0
	10,600		Pola Orbis Holdings, Inc.		465,822		0.0
	101,470		Rakuten, Inc.		684,889		0.0
	130,100		Recruit Holdings Co. Ltd.		3,593,188		0.2
	97,900	⁽²⁾	Renesas Electronics Corp.		957,052		0.1
	248,313		Resona Holdings, Inc.		1,323,453		0.1
	78,532		Ricoh Co., Ltd.		719,175		0.1
	3,866		Rinnai Corp.		340,716		0.0
	11,150		Rohm Co., Ltd.		931,744		0.1
	2,800		Ryohin Keikaku Co., Ltd.		983,706		0.1
	5,188		Sankyo Co., Ltd.		202,876		0.0
	43,645		Santen Pharmaceutical Co., Ltd.		759,267		0.1
	26,270		SBI Holdings, Inc.		673,571		0.0
	24,706		Secom Co., Ltd.		1,894,552		0.1
	20,010		Sega Sammy Holdings, Inc.		342,481		0.0
	25,700		Seibu Holdings, Inc.		432,781		0.0
	32,716		Seiko Epson Corp.		567,996		0.0
	46,219		Sekisui Chemical Co., Ltd.		786,213		0.1
	72,585		Sekisui House Ltd.		1,282,895		0.1
	89,171		Seven & I Holdings Co., Ltd.		3,889,254		0.2
	67,807		Seven Bank Ltd.		207,055		0.0
	11,000		SG Holdings Co. Ltd.		240,645		0.0
	20,300	⁽³⁾	Sharp Corp.		493,749		0.0
	27,172		Shimadzu Corp.		819,806		0.1
	2,461		Shimamura Co., Ltd.		216,366		0.0
	8,755		Shimano, Inc.		1,284,749		0.1
	63,692		Shimizu Corp.		659,215		0.0
	43,389		Shin-Etsu Chemical Co., Ltd.		3,855,913		0.2
	18,894		Shinsei Bank Ltd.		289,898		0.0
	33,832		Shionogi & Co., Ltd.		1,736,051		0.1
	44,862		Shiseido Co., Ltd.		3,560,068		0.2
	57,181		Shizuoka Bank Ltd.		514,132		0.0
	34,264		Hulic Co. Ltd.		365,702		0.0
	22,519		Showa Shell Sekiyu KK		335,508		0.0
	6,736		SMC Corp.		2,465,988		0.2
	97,646		SoftBank Group Corp.		6,972,720		0.4
	8,200		Sohgo Security Services Co., Ltd.		385,791		0.0
	149,770		Sony Corp.		7,670,374		0.4

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Japan: (continued)
	20,098		Sony Financial Holdings, Inc.		382,929		0.0
	16,088		Stanley Electric Co., Ltd.		547,797		0.0
	23,700		Start Today Co. Ltd.		857,480		0.1
	27,100		Sumco Corp.		544,288		0.0
	175,171		Sumitomo Chemical Co., Ltd.		990,703		0.1
	133,855		Sumitomo Corp.		2,195,199		0.1
	89,133		Sumitomo Electric Industries Ltd.		1,325,642		0.1
	13,496		Sumitomo Heavy Industries		454,721		0.0
	27,380		Sumitomo Metal Mining Co., Ltd.		1,045,006		0.1
	159,251		Sumitomo Mitsui Financial Group, Inc.		6,211,744		0.4
	39,185		Sumitomo Mitsui Trust Holdings, Inc.		1,545,990		0.1
	42,496		Sumitomo Realty & Development Co., Ltd.		1,564,914		0.1
	20,459		Sumitomo Rubber Industries, Inc.		324,295		0.0
	8,500		Sundrug Co., Ltd.		344,348		0.0
	16,134		Suntory Beverage & Food Ltd.		689,772		0.1
	20,261		Suruga Bank Ltd.		180,472		0.0
	8,617		Suzuken Co., Ltd.		364,408		0.0
	40,544		Suzuki Motor Corp.		2,234,304		0.1
	19,638		Sysmex Corp.		1,829,764		0.1
	65,211		T&D Holdings, Inc.		978,039		0.1
	14,500		Taiheiyo Cement Corp.		476,997		0.0
	25,061		Taisei Corp.		1,380,096		0.1
	4,100		Taisho Pharmaceutical Holdings Co. Ltd.		479,632		0.0
	14,325		Taiyo Nippon Sanso Corp.		205,066		0.0
	33,689		Takashimaya Co., Ltd.		288,223		0.0
	84,062		Takeda Pharmaceutical Co., Ltd.		3,536,328		0.2
	15,212		TDK Corp.		1,548,929		0.1
	21,101		Teijin Ltd.		386,522		0.0
	36,364		Terumo Corp.		2,081,763		0.1
	13,878		THK Co., Ltd.		396,241		0.0
	21,985		Tobu Railway Co., Ltd.		671,908		0.0
	12,900		Toho Co., Ltd.		432,073		0.0
	8,600		Toho Gas Co., Ltd.		297,921		0.0
	52,613		Tohoku Electric Power Co., Inc.		642,833		0.0
	79,588		Tokio Marine Holdings, Inc.		3,723,385		0.2
	173,266	⁽²⁾	Tokyo Electric Power Co., Inc.		806,648		0.1
	18,465		Tokyo Electron Ltd.		3,169,578		0.2
	46,072		Tokyo Gas Co., Ltd.		1,223,316		0.1
	23,211		Tokyo Tatemono Co., Ltd.		318,379		0.0
	61,394		Tokyu Corp.		1,056,478		0.1
	58,735		Tokyu Fudosan Holdings Corp.		414,315		0.0
	59,432		Toppan Printing Co., Ltd.		464,940		0.0
	163,503		Toray Industries, Inc.		1,290,507		0.1
	770,619	⁽²⁾	Toshiba Corp.		2,313,439		0.1
	30,800		Tosoh Corp.		476,235		0.0
	16,934		Toto Ltd.		783,802		0.1
	18,185		Toyo Seikan Group Holdings, Ltd.		319,143		0.0
	10,388		Toyo Suisan Kaisha Ltd.		370,629		0.0
	7,400		Toyoda Gosei Co., Ltd.		187,292		0.0
	17,205		Toyota Industries Corp.		963,063		0.1
	270,358		Toyota Motor Corp.		17,483,779		1.0
	24,754		Toyota Tsusho Corp.		827,198		0.1
	14,253		Trend Micro, Inc.		811,383		0.1
	4,400		Tsuruha Holdings, Inc.		551,117		0.0
	47,678		Unicharm Corp.		1,433,403		0.1
	353		United Urban Investment Corp.		548,531		0.0
	24,926		USS Co., Ltd.		473,907		0.0
	19,421		West Japan Railway Co.		1,429,859		0.1
	164,844	⁽³⁾	Yahoo! Japan Corp.		546,106		0.0
	13,185		Yakult Honsha Co., Ltd.		881,563		0.1
	72,937		Yamada Denki Co., Ltd.		362,312		0.0
	24,000		Yamaguchi Financial Group, Inc.		269,991		0.0
	16,607		Yamaha Corp.		861,865		0.1
	33,504		Yamaha Motor Co., Ltd.		841,075		0.1
	36,501		Yamato Holdings Co., Ltd.		1,074,321		0.1
	15,300		Yamazaki Baking Co., Ltd.		401,172		0.0
	28,342		Yaskawa Electric Corp.		998,067		0.1
	26,273		Yokogawa Electric Corp.		466,533		0.0
	13,869		Yokohama Rubber Co., Ltd.		287,672		0.0
					406,304,306		23.0

			Luxembourg: 0.1%
	4,518		RTL Group SA		306,172		0.0
	169		SES S.A. - France		3,084		0.0
	43,663		SES S.A. - Luxembourg		798,148		0.0
	55,732		Tenaris S.A.		1,017,111		0.1
					2,124,515		0.1

			Macau: 0.2%
	117,268		MGM China Holdings Ltd.		271,151		0.0
	285,202		Sands China Ltd.		1,520,523		0.1
	236,365		SJM Holdings Ltd.		293,147		0.0
	184,079		Wynn Macau Ltd.		589,908		0.1
					2,674,729		0.2

			Mexico: 0.0%
	26,064		Fresnillo PLC		392,777		0.0

			Netherlands: 6.0%
	50,036	⁽⁴⁾	ABN AMRO Group NV		1,294,022		0.1
	210,844		Aegon NV		1,258,870		0.1
	15,723	⁽²⁾	AerCap Holdings NV		851,400		0.0
	68,704		Airbus SE		8,017,410		0.4
	29,654		Akzo Nobel NV		2,529,260		0.1
	78,074		ArcelorMittal		2,277,872		0.1
	48,443		ASML Holding NV		9,586,145		0.5
	12,868		EXOR NV		861,093		0.0
	13,647	⁽²⁾	Heineken Holding NV		1,305,146		0.1
	30,405		Heineken NV		3,046,235		0.2
	458,294		ING Groep NV		6,578,600		0.4
	21,223		Koninklijke DSM NV		2,123,131		0.1
	399,448		Koninklijke KPN NV		1,086,172		0.1
	110,804		Koninklijke Philips NV		4,694,547		0.3
	147,975		Koninklijke Ahold Delhaize NV		3,533,292		0.2
	8,559		Koninklijke Vopak NV		394,501		0.0
	36,208		NN Group NV		1,468,469		0.1

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Netherlands: (continued)
	40,578	⁽²⁾	NXP Semiconductor NV - NXPI - US		4,433,958		0.3
	26,747	⁽²⁾	QIAGEN NV		969,558		0.1
	14,264		Randstad NV		837,229		0.0
	113,157		Relx NV		2,405,590		0.1
	543,728		Royal Dutch Shell PLC - Class A		18,817,825		1.1
	443,219		Royal Dutch Shell PLC - Class B		15,872,985		0.9
	184,801		Unilever NV		10,296,567		0.6
	34,106		Wolters Kluwer NV		1,915,966		0.1
					106,455,843		6.0

			New Zealand: 0.2%
	88,190	⁽²⁾	a2 Milk Co. Ltd.		683,026		0.1
	110,798		Auckland International Airport Ltd.		508,374		0.0
	68,532		Fisher & Paykel Healthcare Corp.		690,601		0.1
	98,391		Fletcher Building Ltd.		461,722		0.0
	158,760		Meridian Energy Ltd.		335,343		0.0
	49,082		Ryman Healthcare Ltd.		397,567		0.0
	213,605		Spark New Zealand Ltd.		539,087		0.0
					3,615,720		0.2

			Norway: 0.7%
	12,490		Det Norske Oljeselskap ASA		459,422		0.0
	115,111		DNB ASA		2,241,563		0.1
	24,172		Gjensidige Forsikring ASA		395,732		0.0
	49,543		Marine Harvest		985,058		0.1
	159,775		Norsk Hydro ASA		953,737		0.1
	97,497		Orkla ASA		852,990		0.0
	11,294		Schibsted ASA - Class B		318,614		0.0
	136,627		Equinor ASA		3,612,767		0.2
	88,445		Telenor ASA		1,811,398		0.1
	21,128		Yara International ASA		874,112		0.1
					12,505,393		0.7

			Portugal: 0.2%
	300,541		EDP - Energias de Portugal SA		1,191,200		0.1
	60,538		Galp Energia SGPS SA		1,151,655		0.1
	29,391		Jeronimo Martins SGPS SA		423,363		0.0
					2,766,218		0.2

			Singapore: 1.2%
	287,045		Ascendas Real Estate Investment Trust		555,875		0.1
	284,742		CapitaLand Commercial Trust		346,736		0.0
	298,296		CapitaLand Ltd.		690,406		0.1
	294,101		CapitaLand Mall Trust		447,045		0.0
	50,981		City Developments Ltd.		408,353		0.0
	254,502		ComfortDelgro Corp., Ltd.		437,994		0.0
	211,920		DBS Group Holdings Ltd.		4,121,213		0.3
	723,912		Genting Singapore Ltd.		648,200		0.0
	849,769		Golden Agri-Resources Ltd.		189,736		0.0
	11,170		Jardine Cycle & Carriage Ltd.		260,964		0.0
	172,604		Keppel Corp., Ltd.		902,925		0.1
	370,922		Oversea-Chinese Banking Corp., Ltd.		3,159,422		0.2
	114,394		SembCorp Industries Ltd.		230,445		0.0
	61,760		Singapore Airlines Ltd.		483,670		0.0
	76,600		SATS Ltd		280,582		0.0
	98,551		Singapore Exchange Ltd.		517,876		0.1
	189,227		Singapore Press Holdings Ltd.		360,603		0.0
	965,050		Singapore Telecommunications Ltd.		2,178,887		0.1
	190,306		Singapore Technologies Engineering Ltd.		458,720		0.0
	282,600		Suntec Real Estate Investment Trust		358,324		0.0
	157,456		United Overseas Bank Ltd.		3,085,938		0.2
	56,800		United Overseas Land Ltd.		317,195		0.0
	33,100		Venture Corp. Ltd.		432,452		0.0
	221,776		Wilmar International Ltd.		497,315		0.0
	273,200		Yangzijiang Shipbuilding Holdings Ltd.		180,823		0.0
					21,551,699		1.2

			Spain: 2.9%
	30,165		ACS Actividades de Construccion y Servicios SA		1,217,037		0.1
	7,964	⁽⁴⁾	Aena SME SA		1,441,860		0.1
	51,687		Amadeus IT Group SA		4,064,281		0.2
	786,560		Banco Bilbao Vizcaya Argentaria SA		5,547,275		0.3
	662,533		Banco de Sabadell SA		1,106,306		0.1
	1,908,258		Banco Santander SA		10,198,636		0.6
	150,012		Bankia SA		559,406		0.0
	80,924		Bankinter S.A.		785,207		0.0
	422,193		CaixaBank SA		1,817,241		0.1
	27,104	⁽³⁾	Enagas		790,523		0.0
	38,003	⁽³⁾	Endesa S.A.		835,748		0.0
	58,682		Ferrovial SA		1,200,788		0.1
	41,653	⁽³⁾	Gas Natural SDG S.A.		1,101,133		0.1
	35,411		Grifols SA		1,061,370		0.1
	683,648		Iberdrola S.A.		5,272,134		0.3
	128,784		Industria de Diseno Textil SA		4,385,631		0.2
	134,537	⁽³⁾	Mapfre SA		404,384		0.0
	51,313	⁽³⁾	Red Electrica Corp. SA		1,042,477		0.1
	159,813		Repsol SA		3,119,407		0.2
	27,467	⁽³⁾	Siemens Gamesa Renewable Energy SA		367,156		0.0
	551,321		Telefonica S.A.		4,679,308		0.3
					50,997,308		2.9

			Sweden: 2.5%
	35,053		Alfa Laval AB		827,527		0.1
	117,517		Assa Abloy AB		2,492,724		0.1
	46,251		Atlas Copco AB		1,204,922		0.1
	78,774		Atlas Copco AB		2,281,339		0.1
	32,480		Boliden AB		1,048,243		0.1
	29,049		Electrolux AB		659,227		0.0
	48,074	⁽²⁾	Epiroc AB		440,123		0.0
	80,387	⁽²⁾	Epiroc AB		843,562		0.1
	71,244		Essity AB		1,752,715		0.1
	9,295	^(2),(3)	ICA Gruppen AB		284,365		0.0
	107,826	⁽³⁾	Hennes & Mauritz AB		1,604,995		0.1
	30,374	⁽²⁾	Hexagon AB		1,687,797		0.1

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Sweden: (continued)
	51,290		Husqvarna AB - B Shares		485,211		0.0
	20,699		Industrivarden AB		399,287		0.0
	53,377		Investor AB		2,162,122		0.1
	27,895		Kinnevik AB		950,582		0.1
	9,642		Lundbergforetagen AB		295,122		0.0
	21,730		Lundin Petroleum AB		689,712		0.0
	7,664		Millicom International Cellular S.A.		450,430		0.0
	357,561		Nordea Bank AB		3,429,936		0.2
	132,238		Sandvik AB		2,335,453		0.1
	37,915		Securitas AB		621,732		0.0
	189,294		Skandinaviska Enskilda Banken AB		1,791,550		0.1
	40,893		Skanska AB		740,193		0.1
	45,466		SKF AB - B Shares		841,679		0.1
	179,379		Svenska Handelsbanken AB		1,986,703		0.1
	106,356		Swedbank AB		2,266,046		0.1
	21,691		Swedish Match AB		1,072,006		0.1
	44,019		Tele2 AB		515,568		0.0
	361,855		Telefonaktiebolaget LM Ericsson		2,787,805		0.2
	331,712		Telia Co. AB		1,511,907		0.1
	184,193		Volvo AB - B Shares		2,927,402		0.2
					43,387,985		2.5

			Switzerland: 8.1%
	217,039		ABB Ltd.		4,734,474		0.3
	19,278		Adecco Group AG		1,137,674		0.1
	5,895		Baloise Holding AG		855,112		0.0
	269		Barry Callebaut AG		482,026		0.0
	61,426		Cie Financiere Richemont SA		5,192,614		0.3
	26,583		Clariant AG		636,091		0.0
	23,896		Coca-Cola HBC AG		795,369		0.0
	300,667		Credit Suisse Group AG		4,495,897		0.3
	4,093	⁽³⁾	Dufry Group		520,560		0.0
	988		EMS-Chemie Holding AG		632,130		0.0
	27,745		Ferguson PLC		2,244,785		0.1
	4,348		Geberit AG - Reg		1,861,657		0.1
	1,081		Givaudan		2,448,268		0.1
	1,366,337		Glencore PLC		6,487,073		0.4
	36,817		LafargeHolcim Ltd.-CHF		1,790,127		0.1
	26,321		Julius Baer Group Ltd.		1,541,660		0.1
	6,422		Kuehne & Nagel International AG		964,080		0.1
	20,344		LafargeHolcim Ltd.		983,898		0.1
	12		Chocoladefabriken Lindt & Sprungli AG - REG - LISN		911,617		0.1
	125		Chocoladefabriken Lindt & Sprungli AG - PC - LISP		810,203		0.0
	8,732		Lonza Group AG		2,307,400		0.1
	368,385		Nestle SA		28,550,150		1.6
	263,250		Novartis AG		19,941,436		1.1
	4,438		Pargesa Holding SA		375,636		0.0
	2,043		Partners Group		1,493,527		0.1
	83,145		Roche Holding AG		18,446,398		1.0
	4,918		Schindler Holding AG - Part Cert		1,055,909		0.1
	2,387		Schindler Holding AG - Reg		501,427		0.0
	629		SGS SA		1,671,376		0.1
	15,110		Sika AG		2,087,743		0.1
	6,570		Sonova Holding AG - Reg		1,175,265		0.1
	80,597		STMicroelectronics NV		1,789,522		0.1
	1,225		Straumann Holding AG		929,023		0.1
	3,621		Swatch Group AG - BR		1,714,114		0.1
	6,791		Swatch Group AG - Reg		586,382		0.0
	3,920		Swiss Life Holding AG		1,359,266		0.1
	8,579		Swiss Prime Site AG		788,236		0.0
	36,947		Swiss Re Ltd.		3,225,801		0.2
	3,062		Swisscom AG		1,366,674		0.1
	7,224		Temenos Group AG		1,086,393		0.1
	455,011		UBS Group AG		6,975,484		0.4
	5,631		Vifor Pharma AG		898,221		0.1
	17,819		Zurich Insurance Group AG		5,269,614		0.3
					143,120,312		8.1

			United Arab Emirates: 0.1%
	42,921		Mediclinic International PLC		297,350		0.0
	12,162		NMC Health PLC		572,437		0.1
					869,787		0.1

			United Kingdom: 15.0%
	114,841		3i Group PLC		1,359,617		0.1
	24,518		Admiral Group PLC		616,193		0.0
	126,798	⁽³⁾	Anglo American PLC		2,815,031		0.2
	47,854		Antofagasta PLC		621,728		0.0
	58,608		Ashtead Group PLC		1,745,306		0.1
	41,940		Associated British Foods PLC		1,512,284		0.1
	149,751		AstraZeneca PLC		10,357,845		0.6
	114,264	⁽⁴⁾	Auto Trader Group PLC		640,380		0.0
	471,168		Aviva PLC		3,126,238		0.2
	30,029		Babcock International Group		322,645		0.0
	374,853		BAE Systems PLC		3,188,987		0.2
	2,015,789		Barclays PLC		4,982,491		0.3
	121,243		Barratt Developments PLC		821,895		0.0
	15,546		Berkeley Group Holdings PLC		774,392		0.0
	248,889		BHP Billiton PLC		5,585,670		0.3
	2,355,800		BP PLC		17,924,127		1.0
	271,383		British American Tobacco PLC		13,670,467		0.8
	110,238		British Land Co. PLC		975,273		0.1
	994,697		BT Group PLC		2,853,530		0.2
	39,783		Bunzl PLC		1,201,490		0.1
	49,306		Burberry Group PLC		1,401,302		0.1
	21,377		Carnival PLC		1,221,800		0.1
	661,050		Centrica PLC		1,372,590		0.1
	120,251		CNH Industrial NV		1,270,272		0.1
	1,791		Coca-Cola European Partners PLC		72,786		0.0
	24,114	⁽²⁾	Coca-Cola European Partners PLC		976,927		0.1
	186,478		Compass Group PLC		3,974,892		0.2
	157,569	⁽⁴⁾	ConvaTec Group PLC		439,894		0.0
	60,857		CRH PLC - London		2,134,694		0.1
	15,549		Croda International PLC		982,340		0.1
	290,639		Diageo PLC		10,441,457		0.6
	165,642		Direct Line Insurance Group PLC		747,488		0.0
	18,323		easyJet PLC		403,104		0.0
	108,041		Experian PLC		2,665,221		0.2

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			United Kingdom: (continued)
	126,764	⁽²⁾	Fiat Chrysler Automobiles NV		2,391,310		0.1
	187,053		G4S PLC		658,880		0.0
	586,532		GlaxoSmithKline PLC		11,825,025		0.7
	64,805		GVC Holdings PLC		896,120		0.1
	95,554		Hammerson PLC		656,688		0.0
	33,982		Hargreaves Lansdown PLC		880,871		0.0
	2,368,299		HSBC Holdings PLC		22,130,196		1.3
	112,546		Imperial Brands PLC		4,179,742		0.2
	147,489		Informa PLC		1,621,209		0.1
	21,445		InterContinental Hotels Group PLC		1,333,132		0.1
	74,908		International Consolidated Airlines Group SA		655,523		0.0
	19,016		Intertek Group PLC		1,429,823		0.1
	81,516		Investec PLC - INVP - GBP		576,379		0.0
	430,318		ITV PLC		983,810		0.1
	203,522		J Sainsbury PLC		861,258		0.0
	81,462		John Wood Group PLC		672,712		0.0
	22,866		Johnson Matthey PLC		1,088,798		0.1
	257,716		Kingfisher PLC		1,007,826		0.1
	87,981		Land Securities Group PLC		1,108,412		0.1
	698,941		Legal & General Group PLC		2,444,780		0.1
	8,526,384		Lloyds Banking Group Plc		7,074,484		0.4
	36,653		London Stock Exchange Group PLC		2,157,743		0.1
	195,312		Marks & Spencer Group PLC		758,682		0.0
	94,110		Meggitt PLC		610,698		0.0
	571,944		Melrose Industries PLC		1,600,335		0.1
	82,059	⁽⁴⁾	Merlin Entertainments PLC		418,393		0.0
	51,844		Micro Focus International PLC		899,561		0.1
	43,523		Mondi PLC		1,174,166		0.1
	396,507		National Grid PLC		4,381,821		0.2
	16,887		Next PLC		1,344,183		0.1
	93,248		Pearson PLC		1,085,937		0.1
	36,549		Persimmon PLC		1,217,435		0.1
	305,595		Prudential PLC		6,966,436		0.4
	1	^(2),(4)	Quilter PLC		2		0.0
	11,196		Randgold Resources Ltd.		861,725		0.0
	79,023		Reckitt Benckiser Group PLC		6,492,905		0.4
	124,432		Relx PLC		2,657,239		0.2
	141,866		Rio Tinto PLC		7,819,435		0.4
	196,320		Rolls-Royce Holdings PLC		2,557,081		0.1
	564,775	⁽²⁾	Royal Bank of Scotland Group PLC		1,901,332		0.1
	108,523		Royal Mail PLC		721,994		0.0
	121,879		RSA Insurance Group PLC		1,090,001		0.1
	128,083		Sage Group PLC/The		1,057,861		0.1
	14,908		Schroders PLC		618,634		0.0
	119,343		SSE PLC		2,130,337		0.1
	119,195		Segro PLC		1,049,732		0.1
	28,402		Severn Trent PLC		740,547		0.0
	107,647		Shire PLC		6,064,702		0.3
	121,507		Sky PLC		2,340,079		0.1
	102,925		Smith & Nephew PLC		1,895,909		0.1
	46,967		Smiths Group PLC		1,049,122		0.1
	62,852		St. James's Place PLC		948,317		0.1
	341,835		Standard Chartered PLC		3,105,026		0.2
	316,131		Standard Life Aberdeen PLC		1,353,724		0.1
	390,934		Taylor Wimpey PLC		920,266		0.1
	1,147,021		Tesco PLC		3,881,052		0.2
	30,741		Travis Perkins PLC		576,045		0.0
	145,571		Unilever PLC		8,041,400		0.5
	81,383		United Utilities Group PLC		818,166		0.0
	3,152,825		Vodafone Group PLC		7,637,054		0.4
	28,878		Weir Group PLC		758,400		0.0
	21,735		Whitbread PLC		1,132,989		0.1
	267,030		WM Morrison Supermarkets PLC		885,738		0.1
	149,688		WPP PLC		2,351,833		0.1
					263,751,371		15.0

		Total Common Stock
		(Cost $1,452,936,910)			1,681,075,272		95.3

PREFERRED STOCK: 0.5%
			Germany: 0.5%
	6,824		Bayerische Motoren Werke AG		542,836		0.0
	8,383		Fuchs Petrolub AG		412,498		0.0
	20,865		Henkel AG & Co. KGaA		2,662,351		0.2
	18,076		Porsche AG		1,147,747		0.1
	4,137		Sartorius AG		615,881		0.0
	20,793		Schaeffler AG		269,876		0.0
	21,747		Volkswagen AG		3,592,832		0.2
					9,244,021		0.5

			United Kingdom: 0.0%
	12,985,971	⁽²⁾	Rolls-Royce Holdings PLC - C Shares		17,138		0.0

		Total Preferred Stock
		(Cost $9,246,725)			9,261,159		0.5

RIGHTS: 0.0%
			Italy: –%
	1,663,188	⁽²⁾	INTESA SANPAOLO RTS		–		–

			Spain: 0.0%
	28,776	⁽²⁾	ACS Actividades de Construccion y Servicios SA		29,639		0.0
	151,832	⁽²⁾	Repsol SA		86,190		0.0
					115,829		0.0

		Total Rights
		(Cost $116,947)			115,829		0.0

		Total Long-Term Investments
		(Cost $1,462,300,582)			1,690,452,260		95.8

See Accompanying Notes to Financial Statements

Voya International Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: 4.6%
			Securities Lending Collateral⁽⁵⁾: 1.2%
	4,859,173		Dominion Securities Inc., Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $4,860,016, collateralized by various U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $4,956,356, due 11/01/36-06/01/48)		4,859,173			0.3
	4,859,173		Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $4,860,084, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $4,956,357, due 11/15/42-08/15/44)		4,859,173			0.3
	4,859,173		National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $4,859,976, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $4,956,357, due 09/06/18-09/09/49)		4,859,173			0.3
	1,021,939		Natwest Markets PLC, Repurchase Agreement dated 06/29/18, 2.09%, due 07/02/18 (Repurchase Amount $1,022,115, collateralized by various U.S. Government Securities, 2.500%-6.625%, Market Value plus accrued interest $1,042,388, due 05/15/20-05/15/46)		1,021,939			0.0
	4,859,173		State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $4,860,092, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $4,956,393, due 07/15/19-02/15/48)		4,859,173			0.3
					20,458,631			1.2

Shares				Value			Percentage of Net Assets
			Mutual Funds: 3.4%
	60,500,000	⁽⁶⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $60,500,000)		60,500,000			3.4

		Total Short-Term Investments
		(Cost $80,958,631)			80,958,631			4.6

		Total Investments in Securities (Cost $1,543,259,213)		$	1,771,410,891			100.4
		Liabilities in Excess of Other Assets			(7,752,947	)		(0.4	)
		Net Assets		$	1,763,657,944			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
ADR	American Depositary Receipt
(1)	For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.
(2)	Non-income producing security.
(3)	Security, or a portion of the security, is on loan.
(4)	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.
(5)	Represents securities purchased with cash collateral received for securities on loan.
(6)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 96.7%
			Consumer Discretionary: 19.0%
	2,000		ABC-Mart, Inc.		109,315		0.1
	2,000		Adastria Co. Ltd.		25,327		0.0
	400		Aeon Fantasy Co., Ltd.		23,316		0.0
	2,400		Aisan Industry Co., Ltd.		20,208		0.0
	9,170		Aisin Seiki Co., Ltd.		417,534		0.2
	8,000	^(1),(2)	Akebono Brake Industry Co., Ltd.		19,379		0.0
	800		Alpen Co., Ltd.		17,194		0.0
	2,800		Alpine Electronics, Inc.		57,736		0.0
	500		Amiyaki Tei Co., Ltd.		20,680		0.0
	900		Amuse, Inc.		24,159		0.0
	2,500		AOKI Holdings, Inc.		36,482		0.0
	2,000		Aoyama Trading Co., Ltd.		66,731		0.0
	600		Arata Corp.		36,220		0.0
	2,200		Arc Land Sakamoto Co., Ltd.		32,995		0.0
	1,200		Asahi Co., Ltd.		16,915		0.0
	11,300	⁽¹⁾	Asics Corp.		190,756		0.1
	1,000		ASKUL Corp.		32,375		0.0
	1,800		Atsugi Co., Ltd.		18,956		0.0
	4,300		Autobacs Seven Co., Ltd.		76,140		0.0
	2,800		Avex, Inc.		38,828		0.0
	2,700		Belluna Co., Ltd.		34,041		0.0
	3,900		Benesse Holdings, Inc.		138,303		0.1
	6,100		BIC Camera, Inc.		93,906		0.1
	36,900		Bridgestone Corp.		1,441,419		0.6
	1,400		Can Do Co., Ltd.		22,120		0.0
	3,000		Canon Marketing Japan, Inc.		62,487		0.0
	9,000		Casio Computer Co., Ltd.		146,169		0.1
	500		Central Sports Co., Ltd.		19,030		0.0
	1,300		Chiyoda Co., Ltd.		30,071		0.0
	800		Chofu Seisakusho Co., Ltd.		17,326		0.0
	900		Chori Co., Ltd.		15,892		0.0
	8,000		Clarion Co., Ltd.		21,481		0.0
	1,600		Cleanup Corp.		12,548		0.0
	3,800	⁽¹⁾	Colowide Co., Ltd.		101,511		0.1
	400		Corona Corp.		4,378		0.0
	3,600		Create Restaurants Holdings, Inc.		52,615		0.0
	6,700		CyberAgent, Inc.		401,821		0.2
	1,900		Daido Metal Co., Ltd.		19,331		0.0
	1,900		Daidoh Ltd.		7,597		0.0
	1,700		Daiichikosho Co., Ltd.		82,037		0.0
	700		Daikoku Denki Co., Ltd.		11,780		0.0
	2,600		Daikyonishikawa Corp.		37,987		0.0
	1,500		Dainichi Co., Ltd.		11,127		0.0
	600		Daisyo Corp.		9,657		0.0
	5,600		DCM Holdings Co., Ltd.		52,385		0.0
	300		DD Holdings Co. Ltd		7,621		0.0
	24,800		Denso Corp.		1,210,097		0.5
	13,100		Dentsu, Inc.		620,127		0.3
	2,900		Descente Ltd.		51,319		0.0
	7,200		Don Quijote Holdings Co. Ltd.		345,591		0.2
	1,300		Doshisha Co., Ltd.		29,377		0.0
	2,000		Doutor Nichires Holdings Co., Ltd.		39,688		0.0
	1,000		Dynic Corp.		9,313		0.0
	1,600		Eagle Industry Co., Ltd.		25,681		0.0
	4,200		EDION Corp.		42,245		0.0
	1,600		ES-Con Japan Ltd.		9,374		0.0
	1,400		Exedy Corp.		43,332		0.0
	1,300		Yondoshi Holdings, Inc.		31,777		0.0
	1,500		Fast Retailing Co., Ltd.		687,504		0.3
	1,900		FCC Co., Ltd.		53,526		0.0
	1,700		Foster Electric Co., Ltd.		24,322		0.0
	1,900		France Bed Holdings Co., Ltd.		16,654		0.0
	1,200		F-Tech, Inc.		14,020		0.0
	1,500		Fuji Co., Ltd.		31,356		0.0
	34,700		Subaru Corp.		1,009,250		0.4
	1,600		Fuji Kyuko Co., Ltd.		47,765		0.0
	11,500		Fuji Media Holdings, Inc.		196,240		0.1
	800		Fujibo Holdings, Inc.		25,975		0.0
	1,300		Fujikura Rubber Ltd.		7,279		0.0
	700		Fujita Kanko, Inc.		20,709		0.0
	3,400		Fujitsu General Ltd.		53,138		0.0
	1,700	⁽²⁾	Funai Electric Co., Ltd.		9,750		0.0
	1,000		Furukawa Battery Co., Ltd.		7,732		0.0
	4,000		Futaba Industrial Co., Ltd.		25,107		0.0
	300		Gakken Holdings Co., Ltd.		13,381		0.0
	600		Genki Sushi Co., Ltd.		18,987		0.0
	2,500		Geo Corp.		33,435		0.0
	800		Globeride, Inc.		28,976		0.0
	700	⁽¹⁾	Goldwin, Inc.		60,539		0.0
	1,000		Gourmet Kineya Co., Ltd.		12,055		0.0
	3,900		IDOM, Inc.		21,533		0.0
	900		Gunze Ltd.		57,619		0.0
	5,335		H2O Retailing Corp.		85,014		0.0
	14,900		Hakuhodo DY Holdings, Inc.		238,905		0.1
	1,400		Happinet Corp.		17,710		0.0
	1,500		Hard Off Corp. Co., Ltd.		13,453		0.0
	1,400		Haruyama Trading Co., Ltd.		12,982		0.0
	14,800		Haseko Corp.		203,990		0.1
	3,488		Heiwa Corp.		84,138		0.0
	1,710		Hiday Hidaka Corp.		38,244		0.0
	1,300		Hikari Tsushin, Inc.		228,149		0.1
	3,000	⁽¹⁾	Hiramatsu, Inc.		13,746		0.0
	1,700		HIS Co., Ltd.		51,201		0.0
	100,400		Honda Motor Co., Ltd.		2,943,827		1.2
	2,010		Honeys Holdings Co., Ltd.		17,265		0.0
	2,500		Hoosiers Holdings Co. Ltd.		17,997		0.0
	900		Ichibanya Co., Ltd.		39,302		0.0
	2,000		Ichikoh Industries Ltd.		23,858		0.0
	9,220		Iida Group Holdings Co. Ltd.		177,499		0.1
	1,700		Imasen Electric Industrial		17,993		0.0
	1,900		Intage Holdings, Inc.		21,478		0.0
	20,600		Isetan Mitsukoshi Holdings Ltd.		257,003		0.1
	32,300		Isuzu Motors Ltd.		428,207		0.2

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Discretionary: (continued)
	2,000		Izumi Co., Ltd.		123,423		0.1
	13,200		J Front Retailing Co., Ltd.		200,521		0.1
	2,200		Janome Sewing Machine Co., Ltd.		14,027		0.0
	3,500		Japan Wool Textile Co., Ltd.		32,474		0.0
	800		JINS, Inc.		45,662		0.0
	370		Joban Kosan Co. Ltd.		6,131		0.0
	1,300		Joshin Denki Co., Ltd.		40,707		0.0
	3,200		Joyful Honda Co. Ltd.		48,903		0.0
	5,500		JP-Holdings, Inc.		17,496		0.0
	10,870		JVC Kenwood Corp.		30,753		0.0
	3,486		Kadokawa Dwango Corp.		38,526		0.0
	1,900		Kappa Create Co., Ltd.		24,743		0.0
	2,000		Kasai Kogyo Co., Ltd.		24,753		0.0
	500		Kawai Musical Instruments Manufacturing Co., Ltd.		23,219		0.0
	1,200		KYB Corp.		54,517		0.0
	2,700		Keihin Corp.		54,789		0.0
	2,800		Keiyo Co., Ltd.		13,886		0.0
	1,100	⁽²⁾	KNT-CT Holdings Co., Ltd.		15,402		0.0
	400	⁽²⁾	Kintetsu Department Store Co. Ltd.		14,472		0.0
	1,600		Kisoji Co., Ltd.		40,571		0.0
	1,800		Kohnan Shoji Co., Ltd.		41,901		0.0
	6,700		Koito Manufacturing Co., Ltd.		442,556		0.2
	3,800	⁽²⁾	Kojima Co., Ltd.		18,293		0.0
	2,700		Komatsu Seiren Co., Ltd.		23,681		0.0
	1,700		KOMEDA Holdings Co. Ltd.		33,425		0.0
	1,700		Komeri Co., Ltd.		43,133		0.0
	2,400		Konaka Co., Ltd.		11,285		0.0
	2,000		Koshidaka Holdings Co. Ltd.		29,369		0.0
	1,300	⁽¹⁾	Kourakuen Holdings Corp.		19,844		0.0
	9,740		Ks Holdings Corp.		100,943		0.1
	700		Kura Corp.		46,447		0.0
	13,000		Kurabo Industries Ltd.		41,012		0.0
	2,020		Kyoritsu Maintenance Co., Ltd.		110,686		0.1
	800		LEC, Inc.		33,346		0.0
	4,000		Lifull Co., Ltd.		26,436		0.0
	640		Look Holdings, Inc.		7,862		0.0
	1,400		Macromill, Inc.		34,398		0.0
	800		Mars Engineering Corp.		18,820		0.0
	10,700		Marui Group Co., Ltd.		225,075		0.1
	2,000		Matsuya Co., Ltd.		30,064		0.0
	700		Matsuya Foods Co., Ltd.		23,816		0.0
	34,700		Mazda Motor Corp.		425,651		0.2
	2,500		Meiko Network Japan Co., Ltd.		28,775		0.0
	1,800		Meiwa Estate Co., Ltd.		10,697		0.0
	1,500		Misawa Homes Co., Ltd.		12,445		0.0
	2,700		Mitsuba Corp.		21,624		0.0
	41,400		Mitsubishi Motors Corp.		330,012		0.1
	2,000		Mitsui Home Co., Ltd.		12,047		0.0
	1,200		Mizuno Corp.		44,802		0.0
	300	⁽¹⁾	Monogatari Corp.		30,529		0.0
	1,500		MOS Food Services, Inc.		44,270		0.0
	1,400		Musashi Seimitsu Industry Co., Ltd.		46,414		0.0
	1,800		Nakayamafuku Co., Ltd.		12,071		0.0
	11,600		Namco Bandai Holdings, Inc.		477,822		0.2
	9,700		NGK Spark Plug Co., Ltd.		275,759		0.1
	10,800		NHK Spring Co., Ltd.		101,661		0.1
	1,000		Nice Holdings, Inc.		12,092		0.0
	4,200		Nifco, Inc.		129,796		0.1
	800		Nihon Eslead Corp.		13,725		0.0
	19,600		Nikon Corp.		311,491		0.1
	1,800		Nippon Felt Co., Ltd.		8,365		0.0
	900		Nippon Piston Ring Co., Ltd.		18,412		0.0
	9,900		Nippon Television Holdings, Inc.		166,863		0.1
	2,900		Nishimatsuya Chain Co., Ltd.		33,329		0.0
	130,100		Nissan Motor Co., Ltd.		1,265,898		0.5
	4,700		Nissan Shatai Co., Ltd.		42,794		0.0
	4,000		Nissan Tokyo Sales Holdings Co., Ltd.		12,950		0.0
	3,000		Nissei Build Kogyo Co., Ltd.		30,783		0.0
	2,300		Nissin Kogyo Co., Ltd.		40,668		0.0
	4,400		Nitori Co., Ltd.		684,544		0.3
	2,000		Nojima Corp.		44,415		0.0
	5,900		NOK Corp.		113,956		0.1
	1,200		Ohashi Technica, Inc.		19,715		0.0
	800		Ohsho Food Service Corp.		45,608		0.0
	7,200		Onward Holdings Co., Ltd.		55,206		0.0
	700		OPT Holding, Inc.		14,883		0.0
	12,700		Oriental Land Co., Ltd.		1,331,553		0.5
	2,600		Pacific Industrial Co., Ltd.		38,151		0.0
	700		PAL Group Holdings Co., Ltd.		16,529		0.0
	1,600		Paltac Corp.		92,009		0.1
	128,050		Panasonic Corp.		1,726,680		0.7
	800		Parco Co., Ltd.		8,706		0.0
	2,000		Paris Miki Holdings, Inc.		9,038		0.0
	1,400		PC Depot Corp.		7,330		0.0
	700	⁽¹⁾	Pepper Food Service Co. Ltd.		28,787		0.0
	400		PIA Corp.		22,494		0.0
	1,700		Piolax, Inc.		40,928		0.0
	22,200	^(1),(2)	Pioneer Corp.		30,809		0.0
	1,300		Plenus Co., Ltd.		21,302		0.0
	6,500		Press Kogyo Co., Ltd.		38,083		0.0
	55,400		Rakuten, Inc.		373,931		0.2
	1,000		Renaissance, Inc.		22,713		0.0
	4,700		Resorttrust, Inc.		83,027		0.0
	1,400		Right On Co., Ltd.		13,489		0.0
	600		Riken Corp.		31,386		0.0
	1,900		Ringer Hut Co., Ltd.		44,465		0.0
	1,900		Rinnai Corp.		167,449		0.1
	2,540		Riso Kyoiku Co. Ltd.		19,414		0.0
	3,500		Round One Corp.		54,940		0.0
	2,200	⁽¹⁾	Royal Holdings Co., Ltd.		60,223		0.0
	1,500		Ryohin Keikaku Co., Ltd.		526,985		0.2
	2,800	⁽¹⁾	Sagami Chain Co., Ltd.		36,072		0.0
	1,900		Saizeriya Co., Ltd.		43,403		0.0
	400		Sakai Ovex Co., Ltd.		8,527		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Discretionary: (continued)
	600		San Holdings, Inc.		13,723		0.0
	1,200	⁽²⁾	Sanden Holdings Corp.		15,639		0.0
	3,700		Sangetsu Co., Ltd.		74,880		0.0
	2,700		Sankyo Co., Ltd.		105,583		0.1
	2,300		Sankyo Seiko Co., Ltd.		9,504		0.0
	3,200		Sanrio Co., Ltd.		61,927		0.0
	811,000	^(1),(2),(3)	Sansui Electric Co., Ltd.		–		–
	1,100		Sanyo Electric Railway Co. Ltd.		26,636		0.0
	800		Sanyo Shokai Ltd.		16,019		0.0
	3,500		Scroll Corp.		18,112		0.0
	11,200		Sega Sammy Holdings, Inc.		191,693		0.1
	1,900		Seiko Holdings Corp.		40,793		0.0
	2,800		Seiren Co., Ltd.		43,563		0.0
	24,300		Sekisui Chemical Co., Ltd.		413,358		0.2
	40,300		Sekisui House Ltd.		712,278		0.3
	3,700	^(1),(2)	Senshukai Co., Ltd.		17,307		0.0
	10,500	⁽¹⁾	Sharp Corp.		255,388		0.1
	2,500		Shimachu Co., Ltd.		79,393		0.0
	1,200		Shimamura Co., Ltd.		105,502		0.1
	4,500		Shimano, Inc.		660,351		0.3
	900		Shimojima Co., Ltd.		9,056		0.0
	1,400		Shobunsha Publications, Inc.		9,763		0.0
	800		Shochiku Co., Ltd.		115,659		0.1
	500		Shoei Co. Ltd.		17,654		0.0
	2,900		Showa Corp.		47,663		0.0
	8,200		SKY Perfect JSAT Holdings, Inc.		39,064		0.0
	6,100	⁽¹⁾	Skylark Co. Ltd.		90,243		0.1
	74,812		Sony Corp.		3,831,448		1.5
	1,100		St. Marc Holdings Co., Ltd.		27,137		0.0
	8,600		Stanley Electric Co., Ltd.		292,830		0.1
	10,900		Start Today Co. Ltd.		394,368		0.2
	1,500		Starts Corp., Inc.		36,521		0.0
	800		Studio Alice Co., Ltd.		18,949		0.0
	500		Suminoe Textile Co., Ltd.		12,215		0.0
	41,100		Sumitomo Electric Industries Ltd.		611,265		0.3
	7,800		Sumitomo Forestry Co., Ltd.		117,887		0.1
	11,405		Sumitomo Rubber Industries, Inc.		180,780		0.1
	800		Sushiro Global Holdings Ltd.		48,321		0.0
	22,200		Suzuki Motor Corp.		1,223,400		0.5
	500		T RAD Co., Ltd.		15,483		0.0
	2,000		Tachi-S Co., Ltd.		33,501		0.0
	1,300		Taiho Kogyo Co., Ltd.		14,989		0.0
	17,000		Takashimaya Co., Ltd.		145,442		0.1
	640		Take And Give Needs Co., Ltd.		11,737		0.0
	400		Takihyo Co., Ltd.		8,754		0.0
	1,300		Tamron Co., Ltd.		23,096		0.0
	2,700		TBK Co., Ltd.		11,891		0.0
	1,400		TPR Co., Ltd.		32,581		0.0
	1,000		T-Gaia Corp.		25,520		0.0
	1,400		Toa Corp./Hyogo		15,373		0.0
	400		Toei Co., Ltd.		40,941		0.0
	7,200		Toho Co., Ltd.		241,157		0.1
	2,900		Tokai Rika Co., Ltd.		54,982		0.0
	2,500		Sumitomo Riko Co., Ltd.		25,620		0.0
	520		Token Corp.		45,819		0.0
	600	⁽²⁾	Tokyo Base Co. Ltd.		4,580		0.0
	6,100		Tokyo Broadcasting System Holdings, Inc.		136,793		0.1
	1,350		Sac's Bar Holdings, Inc.		12,101		0.0
	4,800		Tokyo Dome Corp.		42,866		0.0
	900		Tokyotokeiba Co., Ltd.		38,850		0.0
	5,100		Tomy Co., Ltd.		42,273		0.0
	2,100		Topre Corp.		52,779		0.0
	1,600		Toridoll Holdings Corp.		37,769		0.0
	500		Torikizoku Co. Ltd.		11,699		0.0
	6,800		Toyo Tire & Rubber Co., Ltd.		99,136		0.1
	4,000		Toyoda Gosei Co., Ltd.		101,239		0.1
	3,400		Toyota Boshoku Corp.		62,367		0.0
	9,000		Toyota Industries Corp.		503,782		0.2
	135,882		Toyota Motor Corp.		8,787,352		3.4
	2,600		TS Tech Co., Ltd.		108,313		0.1
	4,750		TSI Holdings Co. Ltd.		33,538		0.0
	500		Tsutsumi Jewelry Co., Ltd.		8,292		0.0
	2,900		TV Asahi Holdings Corp.		63,616		0.0
	1,100		Tv Tokyo Holdings Corp.		33,583		0.0
	2,300		Unipres Corp.		45,003		0.0
	1,400		United Arrows Ltd.		52,166		0.0
	4,900	⁽²⁾	Unitika Ltd.		27,868		0.0
	3,100	⁽²⁾	U-Shin Ltd.		19,806		0.0
	12,900		USS Co., Ltd.		245,262		0.1
	1,400		ValueCommerce Co. Ltd.		23,386		0.0
	1,200		Vector, Inc.		24,778		0.0
	4,400		VT Holdings Co. Ltd.		23,128		0.0
	3,100		Wacoal Holdings Corp.		90,289		0.1
	1,600		WATAMI Co., Ltd.		20,974		0.0
	600		Wowow, Inc.		19,037		0.0
	1,700		Xebio Holdings Co., Ltd.		27,036		0.0
	36,392		Yamada Denki Co., Ltd.		180,776		0.1
	20,000	^(1),(2)	Yamada SxL Home Co. Ltd.		12,989		0.0
	7,600		Yamaha Corp.		394,423		0.2
	15,900		Yamaha Motor Co., Ltd.		399,149		0.2
	700		Yasunaga Corp.		11,395		0.0
	1,100		Yellow Hat Ltd.		32,466		0.0
	6,400		Yokohama Rubber Co., Ltd.		132,749		0.1
	500		Yomiuri Land Co., Ltd.		20,889		0.0
	1,400		Yorozu Corp.		21,508		0.0
	3,900		Yoshinoya D&C Co., Ltd.		77,741		0.0
	2,250		Zenrin Co., Ltd.		54,351		0.0
	5,900		Zensho Holdings Co., Ltd.		149,688		0.1
					49,089,025		19.0

			Consumer Staples: 9.2%
	42,445		Aeon Co., Ltd.		907,994		0.4
	1,500		Ain Holdings, Inc.		110,556		0.1
	25,700		Ajinomoto Co., Inc.		486,477		0.2
	2,100		Arcs Co., Ltd.		57,299		0.0
	1,000		Ariake Japan Co., Ltd.		86,077		0.0
	2,300		Artnature, Inc.		14,204		0.0
	23,500		Asahi Group Holdings, Ltd.		1,205,261		0.5
	600		Belc Co., Ltd.		31,718		0.0
	5,100		Calbee, Inc.		191,850		0.1

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Staples: (continued)
	1,000		Cawachi Ltd.		20,447		0.0
	1,700		Chubu Shiryo Co., Ltd.		29,836		0.0
	7,852		Coca-Cola Bottlers Japan, Inc.		314,155		0.1
	1,220		Cocokara fine, Inc.		75,011		0.0
	600		Cosmos Pharmaceutical Corp.		121,758		0.1
	1,700		Create SD Holdings		48,824		0.0
	400		Daikokutenbussan Co., Ltd.		18,758		0.0
	1,400		Ci:z Holdings Co. Ltd		66,520		0.0
	700		DyDo Group Holdings, Inc.		41,580		0.0
	900		Earth Corp.		45,796		0.0
	5,100	^(1),(2)	Euglena Co. Ltd.		38,196		0.0
	3,100		Ezaki Glico Co., Ltd.		148,911		0.1
	3,590		FamilyMart UNY Holdings Co., Ltd.		378,043		0.2
	2,800		FANCL Corp.		140,080		0.1
	9,680		Feed One Co., Ltd.		20,142		0.0
	3,100		Fuji Oil Holdings, Inc.		111,438		0.1
	1,300		Fujicco Co., Ltd.		33,284		0.0
	900		Fujiya Co., Ltd.		20,579		0.0
	500		Genky DrugStores Co. Ltd.		20,407		0.0
	1,100		Axial Retailing, Inc.		41,801		0.0
	1,200		Hayashikane Sangyo Co., Ltd.		8,213		0.0
	2,200		Heiwado Co., Ltd.		54,793		0.0
	1,600		Hokuto Corp.		28,571		0.0
	4,300		House Foods Group, Inc.		152,271		0.1
	1,500		Inageya Co., Ltd.		24,598		0.0
	3,700		Ito En Ltd.		171,533		0.1
	300		Itochu-Shokuhin Co., Ltd.		16,505		0.0
	6,870		Itoham Yonekyu Holdings, Inc.		59,107		0.0
	69,400		Japan Tobacco, Inc.		1,939,481		0.8
	600		J-Oil Mills, Inc.		21,544		0.0
	4,500	⁽¹⁾	Kagome Co., Ltd.		149,609		0.1
	700		Kameda Seika Co. Ltd.		37,413		0.0
	27,500		Kao Corp.		2,096,093		0.8
	1,800		Kato Sangyo Co., Ltd.		61,639		0.0
	800		Kenko Mayonnaise Co. Ltd.		29,407		0.0
	6,200		Kewpie Corp.		156,569		0.1
	1,400		Key Coffee, Inc.		27,851		0.0
	8,100		Kikkoman Corp.		408,958		0.2
	54,000		Kirin Holdings Co., Ltd.		1,447,464		0.6
	3,900	⁽¹⁾	Kitanotatsujin Corp.		27,920		0.0
	3,200		Kobayashi Pharmaceutical Co., Ltd.		276,210		0.1
	800		Kobe Bussan Co. Ltd.		39,407		0.0
	1,900		Kose Corp.		408,679		0.2
	1,200		Kotobuki Spirits Co. Ltd.		62,740		0.0
	900		Kusuri no Aoki Holdings Co. Ltd.		59,885		0.0
	800		Kyokuyo Co., Ltd.		25,947		0.0
	2,800		Lawson, Inc.		174,866		0.1
	1,000		Life Corp.		24,842		0.0
	15,600		Lion Corp.		285,453		0.1
	2,300		Mandom Corp.		71,533		0.0
	7,000		Marudai Food Co., Ltd.		31,826		0.0
	2,400		Maruha Nichiro Corp.		96,653		0.0
	4,600		Matsumotokiyoshi Holdings Co., Ltd.		206,420		0.1
	2,700		Megmilk Snow Brand Co., Ltd.		72,129		0.0
	7,400		MEIJI Holdings Co., Ltd.		624,961		0.3
	700		Meito Sangyo Co., Ltd.		11,158		0.0
	1,624		Milbon Co., Ltd.		72,725		0.0
	1,100		Ministop Co., Ltd.		22,185		0.0
	1,000		Mitsubishi Shokuhin Co. Ltd.		26,658		0.0
	1,000		Mitsui Sugar Co., Ltd.		30,994		0.0
	900		Miyoshi Oil & Fat Co., Ltd.		10,931		0.0
	2,700		Morinaga & Co., Ltd.		129,465		0.1
	1,800		Morinaga Milk Industry Co., Ltd.		67,268		0.0
	300		Morozoff Ltd.		18,396		0.0
	1,000		Nagatanien Holdings Co., Ltd.		13,566		0.0
	600		Nakamuraya Co., Ltd.		26,042		0.0
	1,000		Natori Co., Ltd.		17,169		0.0
	5,400		Nichirei Corp.		137,552		0.1
	620		Nihon Chouzai Co., Ltd.		16,432		0.0
	1,100		Nippon Beet Sugar Manufacturing Co., Ltd.		23,843		0.0
	3,400		Nippon Flour Mills Co., Ltd.		59,109		0.0
	4,500		NH Foods Ltd.		181,918		0.1
	14,000		Nippon Suisan Kaisha Ltd.		68,986		0.0
	1,400		Nisshin Oillio Group Ltd.		42,028		0.0
	13,645		Nisshin Seifun Group, Inc.		289,126		0.1
	4,400		Nissin Food Products Co., Ltd.		318,799		0.1
	700		Noevir Holdings Co. Ltd.		50,425		0.0
	5,400		Oenon Holdings, Inc.		21,376		0.0
	1,000		OIE Sangyo Co., Ltd.		12,993		0.0
	2,000		Okuwa Co., Ltd.		20,960		0.0
	6,800		Pigeon Corp.		330,461		0.1
	4,800		Pola Orbis Holdings, Inc.		210,938		0.1
	9,000		Prima Meat Packers Ltd.		52,023		0.0
	1,400		Qol Co. Ltd.		26,144		0.0
	1,700		Rock Field Co., Ltd.		29,230		0.0
	800		S Foods, Inc.		31,442		0.0
	1,800		Sakata Seed Corp.		68,115		0.0
	900		San-A Co., Ltd.		44,452		0.0
	4,200		Sapporo Holdings Ltd.		105,326		0.0
	46,043		Seven & I Holdings Co., Ltd.		2,008,197		0.8
	500		Shinyei Kaisha		6,320		0.0
	20,900		Shiseido Co., Ltd.		1,658,540		0.7
	600		Shoei Foods Corp.		21,064		0.0
	900		Showa Sangyo Co., Ltd.		23,510		0.0
	1,200		Sogo Medical Co., Ltd.		25,058		0.0
	1,000		ST Corp.		29,882		0.0
	600	⁽¹⁾	Starzen Co., Ltd.		31,615		0.0
	2,400		Sugi Holdings Co., Ltd.		138,852		0.1
	4,700		Sundrug Co., Ltd.		190,404		0.1
	8,500		Suntory Beverage & Food Ltd.		363,398		0.1
	8,400		Takara Holdings, Inc.		111,060		0.1
	400		Tobu Store Co., Ltd.		11,101		0.0
	1,200		Toho Co., Ltd./Hyogo		28,772		0.0
	1,600		Torigoe Co., Ltd.		14,309		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Staples: (continued)
	6,100		Toyo Suisan Kaisha Ltd.		217,639		0.1
	2,400		Tsuruha Holdings, Inc.		300,609		0.1
	23,700		Unicharm Corp.		712,522		0.3
	3,580		United Super Markets Holdings, Inc.		46,301		0.0
	2,800		Valor Holdings Co., Ltd.		63,784		0.0
	1,100		Warabeya Nichiyo Co., Ltd.		25,234		0.0
	2,940		Welcia Holdings Co. Ltd.		156,321		0.1
	1,500		Yaizu Suisankagaku Industry Co., Ltd.		16,786		0.0
	6,600		Yakult Honsha Co., Ltd.		441,283		0.2
	400		Yakuodo Co. Ltd.		14,399		0.0
	1,700		YA-MAN Ltd.		28,427		0.0
	1,400		Yamatane Corp.		29,031		0.0
	9,000		Yamazaki Baking Co., Ltd.		235,984		0.1
	1,300		Yaoko Co., Ltd.		71,643		0.0
	3,500		Yokohama Reito Co., Ltd.		31,900		0.0
	500		Yomeishu Seizo Co., Ltd.		11,167		0.0
					23,861,439		9.2

			Energy: 1.1%
	4,900		Fuji Oil Co., Ltd.		18,357		0.0
	3,300		Cosmo Energy Holdings Co. Ltd.		115,562		0.1
	9,400		Idemitsu Kosan Co., Ltd.		334,279		0.1
	60,500		Inpex Corp.		628,346		0.3
	2,200		Itochu Enex Co., Ltd.		21,446		0.0
	700	^(1),(2)	Japan Drilling Co. Ltd.		373		0.0
	400		Japan Oil Transportation Co., Ltd.		11,670		0.0
	1,900		Japan Petroleum Exploration Co., Ltd.		49,535		0.0
	178,660		JXTG Holdings, Inc.		1,239,503		0.5
	1,800		Mitsuuroko Group Holdings Co., Ltd.		14,389		0.0
	1,000		Modec, Inc.		27,674		0.0
	14,600		Nippon Coke & Engineering Co., Ltd.		15,515		0.0
	2,300		Sala Corp.		14,455		0.0
	3,200		San-Ai Oil Co., Ltd.		39,406		0.0
	3,000		Shinko Plantech Co., Ltd.		30,241		0.0
	10,600		Showa Shell Sekiyu KK		157,928		0.1
	800		Sinanen Holdings Co., Ltd.		20,176		0.0
	700		Toyo Kanetsu K K		25,491		0.0
					2,764,346		1.1

			Financials: 11.0%
	3,400		77 Bank Ltd.		73,842		0.0
	22,600	⁽¹⁾	Acom Co., Ltd.		86,761		0.1
	7,900		AEON Financial Service Co., Ltd.		168,381		0.1
	500		Aichi Bank Ltd.		21,654		0.0
	20,200	⁽²⁾	Aiful Corp.		62,873		0.0
	1,000		Akita Bank Ltd.		27,805		0.0
	900		Anicom Holdings, Inc.		33,841		0.0
	1,100		Aomori Bank Ltd.		33,185		0.0
	6,400		Aozora Bank Ltd.		242,890		0.1
	8,000		Awa Bank Ltd.		49,233		0.0
	700		Bank of Iwate Ltd.		26,914		0.0
	4,200		Bank of Kochi Ltd./The		193,920		0.1
	900	⁽¹⁾	Bank of Nagoya Ltd.		31,233		0.0
	1,000		Bank of Okinawa Ltd.		36,606		0.0
	700		Bank of Saga Ltd.		15,670		0.0
	2,400		Bank of the Ryukyus Ltd.		35,325		0.0
	2,300		Tokyo Century Corp.		130,201		0.1
	39,000		Chiba Bank Ltd.		275,063		0.1
	5,200		Chiba Kogyo Bank Ltd.		22,629		0.0
	7,300		Chugoku Bank Ltd.		73,665		0.0
	500		Chukyo Bank Ltd.		10,503		0.0
	65,928		Concordia Financial Group Ltd.		335,035		0.1
	8,400		Credit Saison Co., Ltd.		131,972		0.1
	62,400		Dai-ichi Life Holdings, Inc.		1,110,573		0.4
	1,300		Daishi Bank Ltd.		51,638		0.0
	1,300		Daito Bank Ltd.		14,527		0.0
	94,000		Daiwa Securities Group, Inc.		544,812		0.2
	500		Dream Incubator, Inc.		9,687		0.0
	800		eGuarantee, Inc.		14,539		0.0
	1,600		Ehime Bank Ltd.		18,584		0.0
	10,000		Eighteenth Bank Ltd.		26,042		0.0
	16,200		FIDEA Holdings Co., Ltd.		25,126		0.0
	3,900		Financial Products Group Co. Ltd.		50,175		0.0
	1,400		Fukui Bank Ltd.		30,586		0.0
	44,000		Fukuoka Financial Group, Inc.		220,805		0.1
	2,400	⁽²⁾	Fukushima Bank Ltd.		15,123		0.0
	1,300		Fuyo General Lease Co., Ltd.		89,324		0.1
	2,000		GCA Corp.		15,428		0.0
	21,900		Gunma Bank Ltd.		114,641		0.1
	19,500		Hachijuni Bank Ltd.		83,085		0.0
	16,000		Hiroshima Bank Ltd.		106,117		0.1
	3,100		Hitachi Capital Corp.		80,007		0.0
	1,200		Hokkoku Bank Ltd.		47,137		0.0
	1,200		Hokuetsu Bank Ltd.		23,868		0.0
	7,200		Hokugin Financial Group, Inc.		95,596		0.1
	10,100		Hyakugo Bank Ltd.		39,633		0.0
	12,000		Hyakujushi Bank Ltd.		39,373		0.0
	2,200		IBJ Leasing Co., Ltd.		58,123		0.0
	3,400		Ichiyoshi Securities Co., Ltd.		36,765		0.0
	1,600		IwaiCosmo Holdings, Inc.		20,692		0.0
	15,200		Iyo Bank Ltd.		100,157		0.1
	1,300		Jaccs Co., Ltd.		28,108		0.0
	1,700		Jafco Co., Ltd.		68,912		0.0
	29,000		Japan Post Bank Co. Ltd.		337,170		0.1
	59,200		Japan Post Holdings Co. Ltd.		647,871		0.3
	4,100		Japan Post Insurance Co. Ltd.		84,276		0.0
	5,011		Japan Securities Finance Co., Ltd.		27,404		0.0
	10,200		Jimoto Holdings, Inc.		15,475		0.0
	1,500		Juroku Bank Ltd.		39,517		0.0
	8,600		kabu.com Securities Co., Ltd.		27,853		0.0
	4,627	⁽²⁾	Kansai Mirai Financial Group, Inc.		35,063		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	8,000		Keiyo Bank Ltd.		34,303		0.0
	500		Kita-Nippon Bank Ltd.		12,044		0.0
	4,000		Kiyo Bank Ltd.		65,803		0.0
	2,000		Kyokuto Securities Co., Ltd.		26,173		0.0
	18,020		Kyushu Financial Group, Inc.		86,721		0.1
	200	⁽²⁾	M&A Capital Partners Co. Ltd.		17,800		0.0
	4,300		Marusan Securities Co., Ltd.		39,458		0.0
	5,500		Matsui Securities Co., Ltd.		52,500		0.0
	56,390		Mebuki Financial Group, Inc.		189,153		0.1
	1,000		Michinoku Bank Ltd.		16,401		0.0
	5,400		Mito Securities Co., Ltd.		19,479		0.0
	771,500		Mitsubishi UFJ Financial Group, Inc.		4,370,458		1.7
	27,800		Mitsubishi UFJ Lease & Finance Co., Ltd.		170,424		0.1
	28,711		MS&AD Insurance Group Holdings, Inc.		891,723		0.4
	900		Miyazaki Bank Ltd.		27,413		0.0
	1,484,700		Mizuho Financial Group, Inc.		2,500,956		1.0
	11,800	⁽¹⁾	Monex Group, Inc.		68,029		0.0
	1,600		Musashino Bank Ltd.		47,439		0.0
	600		Nagano Bank Ltd.		10,009		0.0
	1,400		Nanto Bank Ltd.		35,650		0.0
	300		NEC Capital Solutions Ltd.		5,220		0.0
	7,000		Nishi-Nippon Financial Holdings, Inc.		81,614		0.0
	21,550		Sompo Holdings, Inc.		869,543		0.4
	188,700		Nomura Holdings, Inc.		913,130		0.4
	17,500		North Pacific Bank Ltd.		58,410		0.0
	1,800		Ogaki Kyoritsu Bank Ltd.		45,658		0.0
	700		Oita Bank Ltd.		23,762		0.0
	10,000		Okasan Securities Group, Inc.		49,138		0.0
	22,500	⁽¹⁾	Orient Corp.		30,236		0.0
	73,500		ORIX Corp.		1,158,515		0.5
	31,800		Osaka Securities Exchange Co. Ltd.		589,831		0.2
	120,600		Resona Holdings, Inc.		642,771		0.3
	900		Ricoh Leasing Co., Ltd.		29,590		0.0
	1,240	⁽²⁾	San ju San Financial Group, Inc.		22,422		0.0
	6,300		San-In Godo Bank Ltd.		56,240		0.0
	12,660		SBI Holdings, Inc.		324,606		0.1
	11,830		Senshu Ikeda Holdings, Inc.		39,894		0.0
	41,600		Seven Bank Ltd.		127,029		0.1
	10,000	⁽¹⁾	Shiga Bank Ltd.		51,154		0.0
	2,200		Shikoku Bank Ltd.		27,097		0.0
	700		Shimizu Bank Ltd.		13,372		0.0
	9,400		Shinsei Bank Ltd.		144,228		0.1
	29,000		Shizuoka Bank Ltd.		260,748		0.1
	9,200		Sony Financial Holdings, Inc.		175,289		0.1
	83,252		Sumitomo Mitsui Financial Group, Inc.		3,247,327		1.3
	21,544		Sumitomo Mitsui Trust Holdings, Inc.		849,989		0.3
	11,600		Suruga Bank Ltd.		103,326		0.1
	34,200		T&D Holdings, Inc.		512,934		0.2
	700		Taiko Bank Ltd.		13,734		0.0
	8,800		Tochigi Bank Ltd.		30,452		0.0
	9,000		Toho Bank Ltd.		32,534		0.0
	1,300		Tohoku Bank Ltd.		16,188		0.0
	12,500		Tokai Tokyo Financial Holdings		79,651		0.0
	41,500		Tokio Marine Holdings, Inc.		1,941,505		0.8
	1,728		Tokyo Kiraboshi Financial Group, Inc.		41,410		0.0
	1,100		Tomato Bank Ltd.		15,131		0.0
	9,700		TOMONY Holdings, Inc.		41,525		0.0
	2,200		Towa Bank Ltd.		22,553		0.0
	7,000		Toyo Securities Co., Ltd.		16,493		0.0
	6,200		Tsukuba Bank Ltd.		14,462		0.0
	1,300	⁽¹⁾	Yamagata Bank Ltd.		27,606		0.0
	13,000		Yamaguchi Financial Group, Inc.		146,245		0.1
	8,000		Yamanashi Chuo Bank Ltd.		30,415		0.0
	3,100		Zenkoku Hosho Co. Ltd.		140,360		0.1
					28,258,286		11.0

			Health Care: 7.0%
	12,300		Alfresa Holdings Corp.		288,832		0.1
	900		As One Corp.		62,413		0.0
	1,900		ASKA Pharmaceutical Co., Ltd.		24,682		0.0
	110,000		Astellas Pharma, Inc.		1,674,044		0.7
	1,500		BML, Inc.		38,610		0.0
	11,700		Chugai Pharmaceutical Co., Ltd.		612,619		0.3
	1,000		CMIC Holdings Co., Ltd.		20,699		0.0
	900		Create Medic Co., Ltd.		11,306		0.0
	32,100		Daiichi Sankyo Co., Ltd.		1,226,332		0.5
	2,700		Daiken Medical Co. Ltd.		18,619		0.0
	8,300		Sumitomo Dainippon Pharma Co. Ltd.		175,428		0.1
	860		Daito Pharmaceutical Co. Ltd.		26,677		0.0
	2,100		Eiken Chemical Co., Ltd.		44,612		0.0
	13,400		Eisai Co., Ltd.		943,227		0.4
	2,000		EPS Holdings, Inc.		42,792		0.0
	500		Falco Holdings Co. Ltd.		8,734		0.0
	800		Fuso Pharmaceutical Industries Ltd.		21,024		0.0
	3,300		Hisamitsu Pharmaceutical Co., Inc.		278,059		0.1
	1,600		Hogy Medical Co., Ltd.		71,587		0.0
	22,600		Hoya Corp.		1,282,075		0.5
	3,300		Japan Lifeline Co. Ltd		80,903		0.0
	900		JCR Pharmaceuticals Co. Ltd.		54,596		0.0
	4,000		Jeol Ltd.		41,115		0.0
	2,000		Kaken Pharmaceutical Co., Ltd.		102,616		0.1
	2,000		Kissei Pharmaceutical Co., Ltd.		54,184		0.0
	3,000		Kyorin Co., Ltd.		62,262		0.0
	14,000		Kyowa Hakko Kirin Co., Ltd.		281,795		0.1
	11,400		M3, Inc.		453,358		0.2
	1,500		Mani, Inc.		67,372		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	600	⁽²⁾	Medical Data Vision Co. Ltd.		8,543		0.0
	10,900		Medipal Holdings Corp.		218,951		0.1
	1,700		Menicon Co. Ltd.		45,503		0.0
	3,200		Miraca Holdings, Inc.		95,185		0.0
	13,500		Mitsubishi Tanabe Pharma Corp.		233,079		0.1
	700		Mochida Pharmaceutical Co., Ltd.		50,953		0.0
	700		N Field Co. Ltd.		11,032		0.0
	1,800		Nagaileben Co., Ltd.		45,726		0.0
	2,600		NichiiGakkan Co., Ltd.		29,469		0.0
	3,450		Nichi-iko Pharmaceutical Co., Ltd.		50,848		0.0
	4,800		Nihon Kohden Corp.		133,572		0.1
	4,200		Nikkiso Co., Ltd.		42,525		0.0
	400		Nippon Chemiphar Co., Ltd.		16,878		0.0
	3,000		Nippon Shinyaku Co., Ltd.		186,174		0.1
	8,000		Nipro Corp.		92,303		0.0
	1,400		Nissui Pharmaceutical Co., Ltd.		17,886		0.0
	16,700		Olympus Corp.		624,708		0.3
	26,500		Ono Pharmaceutical Co., Ltd.		620,387		0.3
	23,200		Otsuka Holdings Co. Ltd.		1,122,247		0.4
	1,300		Paramount Bed Holdings Co. Ltd.		55,712		0.0
	5,200	⁽²⁾	PeptiDream, Inc.		216,044		0.1
	6,200		Rohto Pharmaceutical Co., Ltd.		198,654		0.1
	21,200		Santen Pharmaceutical Co., Ltd.		368,804		0.2
	2,300		Sawai Pharmaceutical Co., Ltd.		104,597		0.1
	2,300		Seikagaku Corp.		30,843		0.0
	1,700	⁽²⁾	Shin Nippon Biomedical Laboratories Ltd.		7,642		0.0
	15,700		Shionogi & Co., Ltd.		805,628		0.3
	2,400		Ship Healthcare Holdings, Inc.		90,439		0.0
	5,030		Suzuken Co., Ltd.		212,716		0.1
	8,800		Sysmex Corp.		819,937		0.3
	1,000		Taiko Pharmaceutical Co. Ltd.		19,338		0.0
	2,500		Taisho Pharmaceutical Holdings Co. Ltd.		292,459		0.1
	3,100		Takara Bio, Inc.		64,682		0.0
	41,200		Takeda Pharmaceutical Co., Ltd.		1,733,206		0.7
	17,300		Terumo Corp.		990,389		0.4
	3,200		Toho Holdings Co., Ltd.		78,009		0.0
	1,400		Tokai Corp./Gifu		30,136		0.0
	800		Torii Pharmaceutical Co., Ltd.		19,428		0.0
	600		Towa Pharmaceutical Co., Ltd.		32,098		0.0
	3,500		Tsukui Corp.		31,568		0.0
	4,000		Tsumura & Co.		129,163		0.1
	2,400		Vital KSK Holdings, Inc.		25,000		0.0
	2,600		ZERIA Pharmaceutical Co., Ltd.		56,188		0.0
					18,129,221		7.0

			Industrials: 21.7%
	1,900		Advan Co., Ltd.		16,566		0.0
	1,400		Aeon Delight Co., Ltd.		47,575		0.0
	3,200		Aica Kogyo Co., Ltd.		112,188		0.1
	2,900		Aichi Corp.		16,969		0.0
	3,300		Aida Engineering Ltd.		32,009		0.0
	1,600		Alconix Corp.		22,970		0.0
	20,500		ANA Holdings, Inc.		752,200		0.3
	16,800		Amada Holdings Co., Ltd.		161,236		0.1
	3,000		Anest Iwata Corp.		32,296		0.0
	3,700		Asahi Diamond Industrial Co., Ltd.		26,084		0.0
	11,200		Asahi Glass Co., Ltd.		435,636		0.2
	420		Asahi Kogyosha Co., Ltd.		13,301		0.0
	7,000		Asanuma Corp.		24,982		0.0
	400		Asunaro Aoki Construction Co., Ltd.		3,381		0.0
	2,400		Bando Chemical Industries Ltd.		26,443		0.0
	2,000		Bell System24 Holdings, Inc.		34,816		0.0
	3,300		Bunka Shutter Co., Ltd.		27,966		0.0
	2,200		Central Glass Co., Ltd.		46,134		0.0
	10,000		Central Japan Railway Co.		2,070,293		0.8
	600		Central Security Patrols Co., Ltd.		27,987		0.0
	8,400		Chiyoda Corp.		72,834		0.0
	700		Chiyoda Integre Co., Ltd.		15,316		0.0
	1,500		Chudenko Corp.		37,407		0.0
	700		Chugai Ro Co., Ltd.		17,698		0.0
	3,300		CKD Corp.		54,116		0.0
	4,400		COMSYS Holdings Corp.		116,455		0.1
	2,000		Cosel Co., Ltd.		25,251		0.0
	1,500		CTI Engineering Co., Ltd.		20,098		0.0
	14,200		Dai Nippon Printing Co., Ltd.		317,323		0.1
	900		Dai-Dan Co., Ltd.		18,609		0.0
	5,800		Daifuku Co., Ltd.		253,412		0.1
	7,000		Daihen Corp.		42,077		0.0
	6,000		Daiho Corp.		35,654		0.0
	800		Daiichi Jitsugyo Co., Ltd.		23,440		0.0
	15,300		Daikin Industries Ltd.		1,828,550		0.7
	1,800		Daiseki Co., Ltd.		52,773		0.0
	1,900		Daiwa Industries Ltd.		22,036		0.0
	1,200		Denyo Co., Ltd.		18,583		0.0
	6,400		DMG Mori Co. Ltd.		88,480		0.1
	3,000		Duskin Co., Ltd.		74,772		0.0
	20,000		East Japan Railway Co.		1,915,308		0.8
	4,700		Ebara Corp.		145,823		0.1
	700		Ebara Jitsugyo Co. Ltd.		14,686		0.0
	700		Endo Lighting Corp.		5,558		0.0
	1,500	⁽¹⁾	Escrow Agent Japan Co. Ltd.		5,966		0.0
	10,600		Fanuc Ltd.		2,101,045		0.8
	14,300		Fudo Tetra Corp.		26,689		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	34,000		Fuji Electric Holdings Co., Ltd.		258,268		0.1
	3,400		Fuji Machine Manufacturing Co., Ltd.		60,863		0.0
	13,500		Fujikura Ltd.		85,756		0.1
	3,500		Fujitec Co., Ltd.		43,073		0.0
	500		Fukuda Corp.		30,103		0.0
	700		Fukushima Industries Corp.		32,060		0.0
	1,400		Fukuyama Transporting Co., Ltd.		71,466		0.0
	1,100		Fullcast Co., Ltd.		28,020		0.0
	2,310		Funai Soken Holdings, Inc.		51,388		0.0
	1,900		Furukawa Co., Ltd.		28,113		0.0
	3,700		Furukawa Electric Co., Ltd.		129,090		0.1
	1,800		Futaba Corp.		31,482		0.0
	1,000		Gakujo Co., Ltd.		13,679		0.0
	1,100		Gecoss Corp.		10,571		0.0
	3,200		Glory Ltd.		89,411		0.1
	20,000		GS Yuasa Corp.		91,063		0.1
	900		Hamakyorex Co., Ltd.		26,366		0.0
	13,900		Hankyu Hanshin Holdings, Inc.		558,350		0.2
	2,000		Hanwa Co., Ltd.		76,138		0.0
	9,900		Hazama Ando Corp.		89,985		0.1
	1,800		Hibiya Engineering Ltd.		35,793		0.0
	15,900		Hino Motors Ltd.		169,546		0.1
	400	⁽¹⁾	Hirata Corp.		28,625		0.0
	2,700		Hisaka Works Ltd.		25,533		0.0
	5,300		Hitachi Construction Machinery Co., Ltd.		171,826		0.1
	2,300		Hitachi Transport System Ltd.		58,856		0.0
	9,100		Hitachi Zosen Corp.		42,822		0.0
	2,100		Hokuetsu Industries Co. Ltd.		20,394		0.0
	3,500		Hoshizaki Corp.		353,719		0.2
	500		Hosokawa Micron Corp.		30,997		0.0
	1,100	⁽¹⁾	Howa Machinery Ltd.		9,379		0.0
	2,200		Ichinen Holdings Co., Ltd.		27,324		0.0
	1,500		Idec Corp.		35,049		0.0
	8,600		IHI Corp.		299,142		0.1
	6,700		Iino Kaiun Kaisha Ltd.		30,371		0.0
	1,300		Inaba Denki Sangyo Co., Ltd.		53,047		0.0
	1,200		Inaba Seisakusho Co., Ltd.		15,633		0.0
	2,600		Inabata & Co., Ltd.		36,063		0.0
	1,330		Inui Global Logistics Co. Ltd.		13,602		0.0
	1,500		Iseki & Co., Ltd.		26,730		0.0
	400	⁽²⁾	Ishikawa Seisakusho Ltd.		6,608		0.0
	80,600		Itochu Corp.		1,457,718		0.6
	4,000		Itoki Corp.		23,264		0.0
	600		Iwasaki Electric Co., Ltd.		8,681		0.0
	2,200		Iwatani Corp.		76,532		0.0
	700		JAC Recruitment Co. Ltd.		15,075		0.0
	19,600		Japan Airlines Co. Ltd.		694,449		0.3
	3,300		Japan Airport Terminal Co., Ltd.		154,332		0.1
	700		Japan Pulp & Paper Co., Ltd.		31,814		0.0
	3,700		Japan Steel Works Ltd.		93,143		0.1
	4,000		Japan Transcity Corp.		19,472		0.0
	10,900		JGC Corp.		219,254		0.1
	1,300		JK Holdings Co., Ltd.		9,997		0.0
	16,270		LIXIL Group Corp.		325,164		0.1
	11,800		JTEKT Corp.		160,167		0.1
	1,400		Juki Corp.		14,070		0.0
	55,000		Kajima Corp.		424,966		0.2
	6,300		Kamigumi Co., Ltd.		130,762		0.1
	1,500		Kanaden Corp.		18,640		0.0
	400		Kanagawa Chuo Kotsu Co., Ltd.		13,451		0.0
	1,600		Kanamoto Co., Ltd.		50,518		0.0
	4,500		Kandenko Co., Ltd.		49,308		0.0
	4,800		Kanematsu Corp.		69,231		0.0
	1,600		Katakura Industries Co., Ltd.		18,765		0.0
	700		Kato Works Co., Ltd.		17,537		0.0
	300		Kawada Technologies, Inc.		19,370		0.0
	8,800		Kawasaki Heavy Industries Ltd.		258,814		0.1
	4,900	^(1),(2)	Kawasaki Kisen Kaisha Ltd.		90,459		0.1
	4,500		Keihan Holdings Co., Ltd.		161,342		0.1
	15,600		Keikyu Corp.		255,519		0.1
	6,200		Keio Corp.		299,586		0.1
	7,800		Keisei Electric Railway Co., Ltd.		267,557		0.1
	2,200		Kimura Chemical Plants Co., Ltd.		8,177		0.0
	900		Kimura Unity Co., Ltd.		9,161		0.0
	7,700		Kinden Corp.		125,583		0.1
	2,000	⁽¹⁾	King Jim Co., Ltd.		19,765		0.0
	10,400		Kintetsu Group Holdings Co., Ltd.		424,064		0.2
	2,100		Kintetsu World Express, Inc.		43,282		0.0
	1,000		Kitagawa Corp.		23,561		0.0
	4,000		Kitano Construction Corp.		16,602		0.0
	1,000		Kito Corp.		19,184		0.0
	5,000		Kitz Corp.		40,937		0.0
	400	⁽²⁾	Kobe Electric Railway Co. Ltd.		14,427		0.0
	5,500		Kokuyo Co., Ltd.		97,559		0.1
	395		Komaihal Tec, Inc.		8,044		0.0
	54,100		Komatsu Ltd.		1,540,150		0.6
	900		Komatsu Wall Industry Co., Ltd.		16,603		0.0
	3,200		Komori Corp.		37,184		0.0
	1,800		Konoike Transport Co. Ltd.		27,136		0.0
	400		KRS Corp.		9,983		0.0
	59,900		Kubota Corp.		940,127		0.4
	1,900		Kumagai Gumi Co., Ltd.		66,607		0.0
	6,000		Kurita Water Industries, Ltd.		170,894		0.1
	500		Kyodo Printing Co., Ltd.		12,939		0.0
	2,100		Kyokuto Kaihatsu Kogyo Co., Ltd.		32,041		0.0
	4,500		Kyowa Exeo Corp.		117,761		0.1
	2,500		Kyudenko Corp.		120,475		0.1
	8,700		Kyushu Railway Co.		266,007		0.1

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	1,900		Link And Motivation, Inc.		22,837		0.0
	3,100		Mabuchi Motor Co., Ltd.		147,135		0.1
	9,000		Maeda Corp.		103,152		0.1
	1,800		Maeda Kosen Co. Ltd		30,875		0.0
	4,000		Maeda Road Construction Co., Ltd.		75,932		0.0
	1,600		Maezawa Kasei Industries Co., Ltd.		17,929		0.0
	600		Maezawa Kyuso Industries Co., Ltd.		10,547		0.0
	6,000		Makino Milling Machine Co., Ltd.		46,544		0.0
	14,600		Makita Corp.		653,102		0.3
	89,600		Marubeni Corp.		682,159		0.3
	700		Maruka Machinery Co. Ltd.		12,102		0.0
	600		Maruwa Unyu Kikan Co. Ltd.		21,932		0.0
	4,000		Maruzen Showa Unyu Co., Ltd.		18,266		0.0
	1,100		Matsuda Sangyo Co., Ltd.		16,200		0.0
	2,600		Matsui Construction Co., Ltd.		22,321		0.0
	2,000		Max Co., Ltd.		25,288		0.0
	10,000		Meidensha Corp.		36,022		0.0
	2,800		Meisei Industrial Co. Ltd.		20,329		0.0
	1,400		Meitec Corp.		67,104		0.0
	2,400		Meiwa Corp.		10,366		0.0
	20,858		Minebea Co., Ltd.		351,494		0.2
	4,110	⁽¹⁾	Mirait Holdings Corp.		63,560		0.0
	12,900		Misumi Group, Inc.		375,323		0.2
	77,100		Mitsubishi Corp.		2,137,911		0.8
	111,700		Mitsubishi Electric Corp.		1,482,026		0.6
	18,600		Mitsubishi Heavy Industries Ltd.		676,135		0.3
	3,500		Mitsubishi Logistics Corp.		75,473		0.0
	900		Mitsubishi Kakoki Kaisha Ltd.		16,183		0.0
	2,000		Mitsubishi Pencil Co., Ltd.		41,462		0.0
	3,000		Mitsuboshi Belting Co., Ltd.		37,646		0.0
	93,000		Mitsui & Co., Ltd.		1,548,663		0.6
	4,000	⁽²⁾	Mitsui E&S Holdings Co. Ltd		52,366		0.0
	900		Mitsui Matsushima Co., Ltd.		13,421		0.0
	6,700		Mitsui OSK Lines Ltd.		161,124		0.1
	10,000	⁽²⁾	Mitsui-Soko Holdings Co. Ltd.		31,084		0.0
	4,900		Miura Co., Ltd.		118,898		0.1
	600		Miyaji Engineering Group, Inc.		11,294		0.0
	4,000		MonotaRO Co. Ltd.		176,703		0.1
	1,900		Morita Holdings Corp.		38,312		0.0
	2,000		Relia, Inc.		28,518		0.0
	6,200		Nabtesco Corp.		190,494		0.1
	1,900		NAC Co., Ltd.		16,296		0.0
	1,100		Nachi-Fujikoshi Corp.		49,070		0.0
	5,900		Nagase & Co., Ltd.		92,073		0.1
	8,200		Nagoya Railroad Co., Ltd.		211,517		0.1
	2,000		Nakabayashi Co. Ltd.		12,611		0.0
	3,544		Namura Shipbuilding Co., Ltd.		14,956		0.0
	5,000		Nankai Electric Railway Co., Ltd.		138,695		0.1
	13,500		NGK Insulators Ltd.		239,869		0.1
	6,000		Nichias Corp.		75,032		0.0
	900		Nichiden Corp.		17,329		0.0
	1,800		Nichiha Corp.		67,952		0.0
	2,200		Nichireki Co., Ltd.		23,805		0.0
	13,514		Nidec Corp.		2,021,555		0.8
	7,600		Nihon M&A Center, Inc.		220,191		0.1
	200		Nihon Trim Co., Ltd.		8,610		0.0
	800		Nikko Co. Ltd./Hyogo		17,971		0.0
	3,000		Nippo Corp.		54,601		0.0
	600		Nippon Carbon Co., Ltd.		33,532		0.0
	1,800		Nippon Densetsu Kogyo Co., Ltd.		39,580		0.0
	4,100		Nippon Express Co., Ltd.		297,096		0.1
	2,100		Nippon Hume Corp.		16,847		0.0
	1,400		Nippon Kanzai Co., Ltd.		27,768		0.0
	900		Nippon Koei Co. Ltd.		22,287		0.0
	3,900		Nippon Holdings Co., Ltd.		102,267		0.1
	19,500		Nippon Parking Development Co. Ltd.		33,415		0.0
	400		Nippon Road Co., Ltd.		20,549		0.0
	400		Nippon Seisen Co., Ltd.		15,265		0.0
	4,000	⁽²⁾	Nippon Sharyo Ltd.		10,096		0.0
	5,900		Nippon Sheet Glass Co., Ltd.		56,592		0.0
	828		Nippon Steel & Sumikin Bussan Corp.		41,041		0.0
	3,900		Nippon Thompson Co., Ltd.		30,528		0.0
	8,888		Nippon Yusen KK		176,087		0.1
	1,000		Mitsubishi Logisnext Co., Ltd.		11,416		0.0
	2,800		Nishimatsu Construction Co., Ltd.		80,245		0.0
	3,100	⁽¹⁾	Nishi-Nippon Railroad Co., Ltd.		84,306		0.0
	1,000		Nishio Rent All Co., Ltd.		32,044		0.0
	400		Nissei ASB Machine Co. Ltd		20,787		0.0
	1,300		Nissei Plastic Industrial Co., Ltd.		14,721		0.0
	6,580		Nisshinbo Holdings, Inc.		70,529		0.0
	1,100		Nissin Corp.		25,488		0.0
	2,300		Nissin Electric Co., Ltd.		21,149		0.0
	1,100		Nitta Corp.		43,110		0.0
	1,600		Nitto Boseki Co., Ltd.		38,234		0.0
	2,100		Nitto Kogyo Corp.		41,960		0.0
	700		Nitto Kohki Co., Ltd.		16,371		0.0
	1,100		Nittoc Construction Co. Ltd.		6,707		0.0
	2,700		Nomura Co., Ltd.		59,542		0.0
	700		Noritake Co., Ltd.		38,736		0.0
	2,400		Noritz Corp.		39,065		0.0
	700		NS United Kaiun Kaisha Ltd.		13,569		0.0
	23,000		NSK Ltd.		236,736		0.1
	26,000		NTN Corp.		106,415		0.1
	700		Obara Corp.		39,859		0.0
	37,300		Obayashi Corp.		387,302		0.2
	16,400		Odakyu Electric Railway Co., Ltd.		351,713		0.2

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	1,580		Oiles Corp.		30,027		0.0
	2,700		Okabe Co., Ltd.		23,461		0.0
	4,100		Okamura Corp.		60,204		0.0
	1,300		Okuma Corp.		68,547		0.0
	2,000		Okumura Corp.		65,101		0.0
	1,300		Onoken Co., Ltd.		21,909		0.0
	600		Organo Corp.		17,109		0.0
	600		Origin Electric Co. Ltd.		11,875		0.0
	5,100		OSG Corp.		104,900		0.1
	5,950		OSJB Holdings Corp.		15,006		0.0
	3,500		Outsourcing, Inc.		64,745		0.0
	1,700		Oyo Corp.		21,624		0.0
	6,300		Park24 Co., Ltd.		171,332		0.1
	600		Pasona Group, Inc.		9,735		0.0
	1,400		Pegasus Sewing Machine Manufacturing Co., Ltd.		14,227		0.0
	15,200		Penta-Ocean Construction Co., Ltd.		101,614		0.1
	10,100		Persol Holdings Co. Ltd		224,931		0.1
	2,000		Pilot Corp.		111,264		0.1
	2,600		Prestige International, Inc.		34,818		0.0
	1,900		Pronexus, Inc.		22,675		0.0
	3,400		PS Mitsubishi Construction Co., Ltd.		19,169		0.0
	3,100		Raito Kogyo Co., Ltd.		32,358		0.0
	82,700		Recruit Holdings Co. Ltd.		2,284,063		0.9
	1,200		Rheon Automatic Machinery Co., Ltd.		20,850		0.0
	1,400		Ryobi Ltd.		46,024		0.0
	300		Sakai Heavy Industries Ltd.		9,612		0.0
	600		Sakai Moving Service Co., Ltd.		29,759		0.0
	3,800	⁽²⁾	Sanix, Inc.		10,505		0.0
	3,100		Sanki Engineering Co., Ltd.		30,287		0.0
	1,800		Sankyo Tateyama, Inc.		22,451		0.0
	2,800		Sankyu, Inc.		146,955		0.1
	10,700		Sanwa Holdings Corp.		113,072		0.1
	600		Sanyo Denki Co. Ltd.		42,542		0.0
	1,700		Sato Holding Corp.		50,782		0.0
	1,300		Sato Shoji Corp.		15,065		0.0
	1,600		SBS Holdings, Inc.		17,543		0.0
	11,300		Secom Co., Ltd.		866,528		0.4
	400		Seibu Electric Industry Co., Ltd.		13,387		0.0
	14,300		Seibu Holdings, Inc.		240,808		0.1
	2,500	⁽²⁾	Seikitokyu Kogyo Co., Ltd.		16,313		0.0
	8,000		Seino Holdings Co. Ltd		141,561		0.1
	1,500		Sekisui Jushi Corp.		31,427		0.0
	6,700		Senko Group Holdings Co., Ltd.		52,917		0.0
	10,100		SG Holdings Co. Ltd.		220,956		0.1
	1,200		Shibusawa Warehouse Co., Ltd.		18,697		0.0
	1,100		Shibuya Corp.		33,650		0.0
	1,400		Shima Seiki Manufacturing Ltd.		66,722		0.0
	38,000		Shimizu Corp.		393,302		0.2
	1,100		Shin Nippon Air Technologies Co. Ltd.		16,572		0.0
	400		Shin-Keisei Electric Railway Co., Ltd.		7,905		0.0
	5,200		Shinmaywa Industries Ltd.		60,997		0.0
	2,000		Shinnihon Corp.		23,048		0.0
	500		Shinsho Corp.		13,156		0.0
	1,200		Shinwa Co., Ltd./Nagoya		25,949		0.0
	1,200		SHO-BOND Holdings Co., Ltd.		83,375		0.0
	7,000		Sinfonia Technology Co. Ltd.		24,812		0.0
	2,800		Sintokogio Ltd.		24,785		0.0
	3,500		SMC Corp.		1,281,318		0.5
	2,000		Soda Nikka Co., Ltd.		13,252		0.0
	2,800		Sodick Co., Ltd.		25,475		0.0
	4,300		Sohgo Security Services Co., Ltd.		202,305		0.1
	64,700		Sojitz Corp.		234,319		0.1
	3,400		Sotetsu Holdings, Inc.		103,973		0.1
	2,000		Star Micronics Co., Ltd.		30,923		0.0
	800		Sugimoto & Co., Ltd.		13,558		0.0
	8,600	⁽¹⁾	Sumiseki Holdings, Inc.		11,460		0.0
	69,100		Sumitomo Corp.		1,133,228		0.5
	1,400		Sumitomo Densetsu Co., Ltd.		25,040		0.0
	6,340		Sumitomo Heavy Industries		213,614		0.1
	9,540		Sumitomo Mitsui Construction Co., Ltd.		66,316		0.0
	4,000		Sumitomo Precision Products Co. Ltd.		13,194		0.0
	7,000		Sumitomo Warehouse Co., Ltd./The		42,413		0.0
	2,400		SWCC Showa Holdings Co., Ltd.		15,537		0.0
	5,500		Tadano Ltd.		67,453		0.0
	1,000		Taihei Dengyo Kaisha Ltd.		25,288		0.0
	1,400		Taiheiyo Kouhatsu, Inc.		12,322		0.0
	1,600		Taikisha Ltd.		48,494		0.0
	12,500		Taisei Corp.		688,368		0.3
	700		Takamatsu Construction Group Co., Ltd.		20,989		0.0
	1,000		Takaoka Toko Co. Ltd.		17,689		0.0
	1,200		Takara Printing Co., Ltd.		19,859		0.0
	1,600		Takara Standard Co., Ltd.		26,640		0.0
	3,400		Takasago Thermal Engineering Co., Ltd.		63,042		0.0
	2,000		Takeei Corp.		21,636		0.0
	2,100		Takeuchi Manufacturing Co. Ltd.		44,090		0.0
	700		Takisawa Machine Tool Co., Ltd.		11,092		0.0
	4,100		Takuma Co., Ltd.		49,859		0.0
	2,500		Tanseisha Co., Ltd.		31,604		0.0
	2,600		Tatsuta Electric Wire and Cable Co., Ltd.		13,187		0.0
	2,100		TechnoPro Holdings, Inc.		128,950		0.1
	1,200		Teikoku Electric Manufacturing Co., Ltd.		14,646		0.0
	1,400		Teikoku Sen-I Co., Ltd.		29,231		0.0
	1,100		Tekken Corp.		30,287		0.0
	7,100		THK Co., Ltd.		202,717		0.1
	1,100		Toa Corp.		28,256		0.0
	400		TOA Road Corp.		13,664		0.0
	18,000		Tobishima Corp.		31,465		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	11,700		Tobu Railway Co., Ltd.		357,576		0.2
	3,500		Tocalo Co., Ltd.		36,507		0.0
	14,000		Toda Corp.		121,578		0.1
	400		Toenec Corp.		11,996		0.0
	5,800		TOKAI Holdings Corp.		55,991		0.0
	2,000		Tokyo Energy & Systems, Inc.		22,937		0.0
	600		Tokyo Keiki, Inc.		6,726		0.0
	2,500		Tokyo Sangyo Co. Ltd.		13,878		0.0
	4,990		Tokyu Construction Co., Ltd.		48,411		0.0
	30,000		Tokyu Corp.		516,245		0.2
	4,700		Toli Corp.		14,060		0.0
	1,900		Tomoe Corp.		7,872		0.0
	2,000		Toppan Forms Co., Ltd.		20,221		0.0
	30,000		Toppan Printing Co., Ltd.		234,692		0.1
	2,200		Torishima Pump Manufacturing Co., Ltd.		20,588		0.0
	7,000		Toshiba Machine Co., Ltd.		33,327		0.0
	2,400		Toshiba Plant Systems & Services Corp.		54,838		0.0
	1,000		Tosho Printing Co., Ltd.		8,932		0.0
	1,600		Totetsu Kogyo Co., Ltd.		50,923		0.0
	8,600		Toto Ltd.		398,057		0.2
	5,100		Toyo Construction Co., Ltd.		22,609		0.0
	2,200	^(1),(2)	Toyo Engineering Corp.		15,052		0.0
	5,000		Toyo Logistics Co., Ltd.		16,116		0.0
	800		Toyo Tanso Co., Ltd.		23,384		0.0
	600		Toyo Wharf & Warehouse Co., Ltd.		9,241		0.0
	12,200		Toyota Tsusho Corp.		407,684		0.2
	200		Trancom Co. Ltd.		13,735		0.0
	2,400		Trusco Nakayama Corp.		59,882		0.0
	500		Trust Tech, Inc.		17,544		0.0
	800		Tsubaki Nakashima Co. Ltd.		18,826		0.0
	6,000		Tsubakimoto Chain Co.		47,586		0.0
	400		Tsubakimoto Kogyo Co., Ltd.		13,881		0.0
	3,000		Tsugami Corp.		26,520		0.0
	2,300		Tsukishima Kikai Co., Ltd.		32,751		0.0
	1,300		Tsurumi Manufacturing Co., Ltd.		21,847		0.0
	800		Uchida Yoko Co., Ltd.		27,784		0.0
	410		Ueki Corp.		9,817		0.0
	500		Union Tool Co.		15,605		0.0
	6,200		Ushio, Inc.		78,738		0.0
	700		Wakachiku Construction Co., Ltd.		10,369		0.0
	2,600		Wakita & Co. Ltd.		27,254		0.0
	700		Weathernews, Inc.		21,239		0.0
	10,000		West Japan Railway Co.		736,244		0.3
	2,800		Yahagi Construction Co., Ltd.		22,354		0.0
	2,500		Yamabiko Corp.		29,939		0.0
	1,500	⁽¹⁾	Yamashin-Filter Corp.		14,560		0.0
	18,600		Yamato Holdings Co., Ltd.		547,447		0.2
	4,300		Yamazen Corp.		41,045		0.0
	2,100		Yasuda Logistics Corp.		17,052		0.0
	2,100		Yokogawa Bridge Holdings Corp.		49,733		0.0
	1,100		Yuasa Trading Co., Ltd.		35,030		0.0
	400		Yuken Kogyo Co., Ltd.		9,093		0.0
	1,400		Yushin Precision Equipment Co., Ltd.		16,217		0.0
					55,909,118		21.7

			Information Technology: 11.8%
	1,500		A&D Co., Ltd.		13,891		0.0
	6,400		Advantest Corp.		132,755		0.1
	2,000		Ai Holdings Corp.		43,294		0.0
	400		Aichi Tokei Denki Co., Ltd.		15,225		0.0
	1,200		Aiphone Co., Ltd.		18,687		0.0
	200		Akatsuki, Inc.		7,525		0.0
	680		Alpha Systems, Inc.		14,098		0.0
	9,800		Alps Electric Co., Ltd.		251,687		0.1
	3,600		Amano Corp.		85,038		0.1
	8,400		Anritsu Corp.		115,007		0.1
	800		Argo Graphics, Inc.		25,807		0.0
	2,300		Arisawa Manufacturing Co., Ltd.		23,189		0.0
	3,000		Asahi Net, Inc.		14,128		0.0
	1,200		Ateam, Inc.		25,547		0.0
	6,800		Broadleaf Co. Ltd.		41,087		0.0
	13,700		Brother Industries Ltd.		269,905		0.1
	2,200		CAC Holdings Corp.		21,527		0.0
	1,000		Canon Electronics, Inc.		20,127		0.0
	59,866	⁽¹⁾	Canon, Inc.		1,963,099		0.8
	4,900		Capcom Co., Ltd.		120,490		0.1
	1,900		Computer Institute of Japan Ltd.		11,729		0.0
	13,400		Citizen Watch Co., Ltd.		87,868		0.1
	2,700		CMK Corp.		17,170		0.0
	3,500		COLOPL, Inc.		23,672		0.0
	600		Computer Engineering & Consulting Ltd.		22,090		0.0
	4,300		Cookpad, Inc.		19,800		0.0
	1,400		Cybernet Systems Co., Ltd.		10,624		0.0
	3,600		Cybozu, Inc.		17,482		0.0
	800		Dai-ichi Seiko Co. Ltd		12,929		0.0
	2,200		Screen Holdings Co. Ltd.		154,075		0.1
	500		Daiwabo Holdings Co., Ltd.		26,577		0.0
	5,800		Dena Co., Ltd.		108,609		0.1
	800		Denki Kogyo Co., Ltd.		25,710		0.0
	3,500		Dexerials Corp.		34,844		0.0
	600		Digital Arts, Inc.		32,426		0.0
	2,100		Digital Garage, Inc.		81,354		0.0
	1,700		Dip Corp.		43,605		0.0
	1,500		Disco Corp.		255,365		0.1
	1,200		DTS Corp.		44,518		0.0
	700		E-Guardian, Inc.		18,165		0.0
	1,100		Eizo Corp.		47,718		0.0
	1,100		Elecom Co. Ltd.		25,689		0.0
	500		Enplas Corp.		13,913		0.0
	1,200		ESPEC Corp.		23,470		0.0
	600		Excel Co., Ltd.		14,680		0.0
	4,500		F N Communications, Inc.		30,346		0.0
	899		Faith, Inc.		11,671		0.0
	800		Fixstars Corp.		10,529		0.0
	1,700		Fuji Soft, Inc.		71,658		0.0
	23,200		Fuji Film Holdings Corp.		904,862		0.4
	115,000		Fujitsu Ltd.		695,924		0.3
	2,700		Furuno Electric Co., Ltd.		21,191		0.0
	4,200		GMO internet, Inc.		99,644		0.1

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	800		GMO Payment Gateway, Inc.		92,104		0.1
	2,200		Gurunavi, Inc.		18,011		0.0
	6,400	⁽²⁾	Gree, Inc.		34,229		0.0
	2,000	⁽²⁾	Gumi, Inc.		13,125		0.0
	30,900		GungHo Online Entertainment, Inc.		78,509		0.0
	8,200		Hamamatsu Photonics KK		352,005		0.2
	1,200		Hearts United Group Co. Ltd.		16,986		0.0
	800		Hioki EE Corp.		33,536		0.0
	1,863		Hirose Electric Co., Ltd.		230,406		0.1
	3,900		Hitachi High-Technologies Corp.		158,653		0.1
	268,146		Hitachi Ltd.		1,889,084		0.7
	2,200		Maxell Holdings, Ltd.		37,019		0.0
	1,300		Hochiki Corp.		25,938		0.0
	1,000		Hokuriku Electric Industry Co., Ltd.		11,148		0.0
	2,300		Horiba Ltd.		160,773		0.1
	3,400		Hosiden Corp.		28,498		0.0
	6,900		Ibiden Co., Ltd.		110,252		0.1
	800		Icom, Inc.		19,523		0.0
	3,100		Ines Corp.		29,653		0.0
	1,430		I-Net Corp.		22,879		0.0
	5,700	⁽¹⁾	Infomart Corp.		75,574		0.0
	1,400		Innotech Corp.		17,899		0.0
	1,900		Internet Initiative Japan, Inc.		38,138		0.0
	1,000		Iriso Electronics Co. Ltd.		60,326		0.0
	700		Information Services International-Dentsu Ltd.		21,053		0.0
	3,200	⁽¹⁾	Istyle, Inc.		35,114		0.0
	3,700		TIS, Inc.		170,035		0.1
	1,900		Itfor, Inc.		22,195		0.0
	5,200		Itochu Techno-Solutions Corp.		89,699		0.1
	3,000		Japan Aviation Electronics Industry Ltd.		47,189		0.0
	1,500		Japan Cash Machine Co., Ltd.		16,748		0.0
	27,200	⁽²⁾	Japan Display, Inc.		35,321		0.0
	3,000		Japan Material Co. Ltd.		46,288		0.0
	1,700		Jastec Co., Ltd.		18,028		0.0
	1,100		JBCC Holdings, Inc.		11,677		0.0
	1,900		Justsystems Corp.		39,015		0.0
	1,200		Kaga Electronics Co., Ltd.		28,427		0.0
	8,300		Kakaku.com, Inc.		186,899		0.1
	900		Kanematsu Electronics Ltd.		32,941		0.0
	5,500		Keyence Corp.		3,102,080		1.2
	2,400		KLab, Inc.		31,804		0.0
	1,600		Koa Corp.		40,063		0.0
	4,623		Konami Holdings Corp.		234,902		0.1
	26,100		Konica Minolta, Inc.		242,060		0.1
	18,400		Kyocera Corp.		1,034,778		0.4
	2,400		Lasertec Corp.		67,247		0.0
	3,500	⁽²⁾	LINE Corp.		144,505		0.1
	2,400		Macnica Fuji Electronics Holdings, Inc.		40,241		0.0
	1,700		Mamezou Holdings Co. Ltd.		14,825		0.0
	2,000		Marubun Corp.		14,974		0.0
	400		Maruwa Co., Ltd./Aichi		31,973		0.0
	2,600		Marvelous, Inc.		21,397		0.0
	1,000	⁽¹⁾	Megachips Corp.		26,585		0.0
	600		Melco Holdings, Inc.		22,222		0.0
	2,300		Micronics Japan Co. Ltd.		20,423		0.0
	1,400		Mimasu Semiconductor Industry Co., Ltd.		22,486		0.0
	800		Miroku Jyoho Service Co. Ltd.		20,106		0.0
	1,600	⁽¹⁾	Mitsui High-Tec, Inc.		20,278		0.0
	11,755		Murata Manufacturing Co., Ltd.		1,973,387		0.8
	1,600		Nagano Keiki Co., Ltd.		17,588		0.0
	14,300		NEC Corp.		391,875		0.2
	1,300		NEC Networks & System Integration Corp.		29,219		0.0
	4,800		Net One systems Co., Ltd.		82,405		0.0
	25,000	⁽²⁾	Nexon Co. Ltd.		362,734		0.2
	500		Nexyz Group Corp.		7,657		0.0
	3,800		Nichicon Corp.		47,762		0.0
	2,000		Nihon Dempa Kogyo Co., Ltd.		9,628		0.0
	3,300		Nihon Unisys Ltd.		82,757		0.0
	6,900		Nintendo Co., Ltd.		2,252,361		0.9
	1,400		Nippon Ceramic Co., Ltd.		36,412		0.0
	1,000		Nippon Chemi-Con Corp.		38,875		0.0
	4,900		Nippon Electric Glass Co., Ltd.		135,827		0.1
	3,800		Nippon Signal Company Ltd.		36,796		0.0
	2,400		Nissha Co., Ltd.		49,391		0.0
	1,400		Nohmi Bosai Ltd.		29,900		0.0
	7,032		Nomura Research Institute Ltd.		340,217		0.1
	1,400	⁽¹⁾	Noritsu Koki Co., Ltd.		24,014		0.0
	1,800		NS Solutions Corp.		45,273		0.0
	2,150		NSD CO., Ltd.		48,943		0.0
	34,600		NTT Data Corp.		398,002		0.2
	600		OBIC Business Consultants Co., Ltd.		42,546		0.0
	3,500		Obic Co., Ltd.		289,158		0.1
	4,800		Oki Electric Industry Ltd.		53,647		0.0
	12,000		Omron Corp.		559,006		0.2
	2,000		Optex Group Co., Ltd.		55,795		0.0
	700		Optorun Co. Ltd.		26,767		0.0
	1,800		Oracle Corp. Japan		146,709		0.1
	3,200		Osaki Electric Co., Ltd.		24,529		0.0
	6,700		Otsuka Corp.		262,287		0.1
	1,200		Poletowin Pitcrew Holdings, Inc.		25,864		0.0
	5,900	⁽²⁾	Renesas Electronics Corp.		57,677		0.0
	33,700		Ricoh Co., Ltd.		308,616		0.1
	1,100		Riso Kagaku Corp.		23,208		0.0
	5,100		Rohm Co., Ltd.		426,179		0.2
	1,000		Roland DG Corp.		21,964		0.0
	600		Rorze Corp.		11,582		0.0
	1,400		Ryosan Co., Ltd.		51,231		0.0
	1,500		Ryoyo Electro Corp.		24,225		0.0
	2,000		Sakura Internet, Inc.		14,708		0.0
	7,000		Sanken Electric Co., Ltd.		37,029		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	1,400		Sanshin Electronics Co., Ltd.		24,291		0.0
	1,400		Satori Electric Co., Ltd.		12,854		0.0
	700		Saxa Holdings, Inc.		15,382		0.0
	16,700		Seiko Epson Corp.		289,936		0.1
	2,000		Shibaura Mechatronics Corp.		6,580		0.0
	13,600		Shimadzu Corp.		410,325		0.2
	500		Shindengen Electric Manufacturing Co., Ltd.		23,851		0.0
	1,500	⁽²⁾	Shinkawa Ltd.		11,545		0.0
	4,100		Shinko Electric Industries		36,591		0.0
	1,400		Shinko Shoji Co., Ltd.		21,912		0.0
	1,600	⁽¹⁾	Siix Corp.		35,015		0.0
	4,000		SMK Corp.		13,650		0.0
	4,400		SMS Co. Ltd.		80,238		0.0
	800		Softbank Technology Corp.		11,180		0.0
	1,200	⁽¹⁾	Sourcenext Corp.		8,987		0.0
	5,200		Square Enix Holdings Co., Ltd.		254,967		0.1
	900		SRA Holdings		24,826		0.0
	10,400		Sumco Corp.		208,878		0.1
	1,300		Sumida Corp.		14,590		0.0
	2,544		SCSK Corp.		118,125		0.1
	4,000		Systena Corp.		40,769		0.0
	1,040		Tachibana Eletech Co., Ltd.		19,011		0.0
	5,100		Taiyo Yuden Co., Ltd.		142,146		0.1
	800		Takachiho Koheki Co. Ltd.		8,569		0.0
	5,200		Tamura Corp.		32,886		0.0
	5,900		TDK Corp.		600,755		0.3
	20,000	⁽²⁾	Teac Corp.		7,936		0.0
	1,960		Koei Tecmo Holdings Co. Ltd.		38,457		0.0
	1,000		TKC Corp.		37,238		0.0
	7,500		Tokyo Electron Ltd.		1,287,400		0.5
	2,200		Tokyo Seimitsu Co., Ltd.		72,509		0.0
	6,200		Topcon Corp.		106,132		0.1
	8,000		Toshiba Tec Corp.		48,640		0.0
	400		Toukei Computer Co., Ltd.		10,961		0.0
	1,100		Towa Corp.		11,054		0.0
	3,100		Toyo Corp./Chuo-ku		25,214		0.0
	1,200		Transcosmos, Inc.		28,761		0.0
	5,400		Trend Micro, Inc.		307,407		0.1
	900		UKC Holdings Corp.		18,311		0.0
	2,300		Ulvac, Inc.		87,738		0.1
	5,000		Uniden Holdings Corp.		14,135		0.0
	300		V Technology Co. Ltd.		55,341		0.0
	9,300		Wacom Co., Ltd.		52,758		0.0
	79,300	⁽¹⁾	Yahoo! Japan Corp.		262,710		0.1
	1,100		Yamaichi Electronics Co., Ltd.		15,004		0.0
	3,400		Azbil Corp.		147,939		0.1
	13,100		Yaskawa Electric Corp.		461,318		0.2
	11,300		Yokogawa Electric Corp.		200,656		0.1
	600		Yokowo Co., Ltd.		10,132		0.0
					30,429,226		11.8

			Materials: 6.6%
	1,300		Achilles Corp.		25,531		0.0
	4,800		ADEKA Corp.		76,863		0.0
	600		Aichi Steel Corp.		23,075		0.0
	9,400		Air Water, Inc.		172,391		0.1
	1,900		Asahi Holdings, Inc.		35,421		0.0
	72,900		Asahi Kasei Corp.		924,478		0.4
	1,200		Asahi Yukizia Corp.		24,647		0.0
	2,700		Asia Pile Holdings Corp.		17,422		0.0
	1,800		Carlit Holdings Co. Ltd.		15,299		0.0
	800		Chuetsu Pulp & Paper Co., Ltd.		12,305		0.0
	3,700		Chugoku Marine Paints Ltd.		36,851		0.0
	2,000		Dai Nippon Toryo Co., Ltd.		25,802		0.0
	15,600		Daicel Corp.		172,331		0.1
	2,000		Daido Steel Co., Ltd.		92,335		0.1
	3,000		DKS Co. Ltd.		20,307		0.0
	1,100		Daiken Corp.		25,334		0.0
	3,000		Daiki Aluminium Industry Co., Ltd.		18,556		0.0
	1,000		Dainichiseika Color & Chemicals Manufacturing Co., Ltd.		31,099		0.0
	4,700	⁽¹⁾	Daio Paper Corp.		65,370		0.0
	1,200		Osaka Soda Co., Ltd.		34,141		0.0
	4,300		Denka Co., Ltd.		143,132		0.1
	4,500		DIC Corp.		140,341		0.1
	2,700		Dowa Holdings Co., Ltd.		83,128		0.0
	1,500		JCU Corp.		34,796		0.0
	1,000		FP Corp.		55,230		0.0
	2,500		Fuji Seal International, Inc.		88,564		0.0
	2,000		Fujikura Kasei Co., Ltd.		11,548		0.0
	1,100		Fujimi, Inc.		24,340		0.0
	1,000		Fujimori Kogyo Co., Ltd.		32,911		0.0
	1,233	⁽¹⁾	UACJ Corp.		26,574		0.0
	800		Fuso Chemical Co. Ltd.		20,596		0.0
	700		Godo Steel Ltd.		13,231		0.0
	500		Gun-Ei Chemical Industry Co., Ltd.		15,806		0.0
	500		Hakudo Co., Ltd.		10,572		0.0
	1,800		Harima Chemicals Group, Inc.		13,797		0.0
	5,800		Hitachi Chemical Co., Ltd.		116,763		0.1
	11,820		Hitachi Metals Ltd.		122,559		0.1
	400		Hodogaya Chemical Co., Ltd.		12,022		0.0
	5,000		Hokkan Holdings Ltd.		16,826		0.0
	6,300		Hokuetsu Kishu Paper Co. Ltd.		32,395		0.0
	2,600	⁽²⁾	Ishihara Sangyo Kaisha Ltd.		24,433		0.0
	500		Japan Pure Chemical Co. Ltd.		11,095		0.0
	29,747		JFE Holdings, Inc.		561,853		0.2
	800		JSP Corp.		24,123		0.0
	11,800		JSR Corp.		200,532		0.1
	15,000		Kaneka Corp.		134,335		0.1
	12,300		Kansai Paint Co., Ltd.		255,255		0.1
	3,200		Kanto Denka Kogyo Co., Ltd.		26,600		0.0
	1,800		KH Neochem Co. Ltd.		54,462		0.0
	1,900		Kimoto Co., Ltd.		4,938		0.0
	2,500		Koatsu Gas Kogyo Co., Ltd.		21,901		0.0
	20,200		Kobe Steel Ltd.		184,599		0.1
	1,100		Kohsoku Corp.		13,376		0.0
	2,100		Konishi Co., Ltd.		33,993		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Materials: (continued)
	300		Krosaki Harima Corp.		17,067		0.0
	5,539		Kumiai Chemical Industry Co., Ltd.		43,402		0.0
	19,400		Kuraray Co., Ltd.		266,816		0.1
	1,000		KUREHA Corp.		71,345		0.0
	900		Kurimoto Ltd.		15,846		0.0
	1,500	⁽¹⁾	Kyoei Steel Ltd.		28,305		0.0
	1,100		Kyowa Leather Cloth Co., Ltd.		10,060		0.0
	2,500		Lintec Corp.		72,442		0.0
	3,900		Maruichi Steel Tube Ltd.		132,164		0.1
	1,100		MEC Co., Ltd./Japan		20,808		0.0
	800		Mitani Sekisan Co. Ltd.		18,872		0.0
	78,300		Mitsubishi Chemical Holdings Corp.		653,866		0.3
	9,600		Mitsubishi Gas Chemical Co., Inc.		216,938		0.1
	7,252		Mitsubishi Materials Corp.		198,959		0.1
	2,600		Mitsubishi Paper Mills Ltd.		14,797		0.0
	100		Mitsubishi Steel Manufacturing Co., Ltd.		1,939		0.0
	10,600		Mitsui Chemicals, Inc.		281,734		0.1
	3,000		Mitsui Mining & Smelting Co., Ltd.		127,327		0.1
	800		Moresco Corp.		12,628		0.0
	1,700		Nakayama Steel Works Ltd.		10,281		0.0
	2,700		Neturen Co., Ltd.		23,492		0.0
	3,400		Nihon Nohyaku Co., Ltd.		21,830		0.0
	5,900		Nihon Parkerizing Co., Ltd.		84,862		0.0
	6,000		Nihon Yamamura Glass Co., Ltd.		10,177		0.0
	600		Nippon Carbide Industries Co., Inc.		10,543		0.0
	2,600		Nippon Concrete Industries Co., Ltd.		7,744		0.0
	8,400		Nippon Denko Co., Ltd.		23,834		0.0
	1,700		Nippon Fine Chemical Co., Ltd.		19,531		0.0
	7,400		Nippon Kayaku Co., Ltd.		82,667		0.0
	500		Nippon Kinzoku Co., Ltd.		8,297		0.0
	32,300		Nippon Light Metal Holdings Co. Ltd.		72,466		0.0
	9,100		Nippon Paint Holdings Co., Ltd.		391,347		0.2
	4,829		Nippon Paper Industries Co. Ltd.		76,983		0.0
	1,400		Nippon Pillar Packing Co., Ltd.		18,592		0.0
	1,800		Nippon Shokubai Co., Ltd.		129,997		0.1
	8,000		Nippon Soda Co., Ltd.		44,197		0.0
	49,265		Nippon Steel & Sumitomo Metal Corp.		965,945		0.4
	1,200		Nippon Valqua Industries Ltd.		34,100		0.0
	11,500		Nippon Yakin Kogyo Co., Ltd.		33,097		0.0
	6,800		Nissan Chemical Industries Ltd.		316,758		0.1
	3,076		Nisshin Steel Co. Ltd.		42,394		0.0
	400		Nittetsu Mining Co., Ltd.		18,891		0.0
	8,500		Nitto Denko Corp.		641,728		0.3
	4,500		NOF Corp.		145,193		0.1
	49,000		Oji Holdings Corp.		303,652		0.1
	4,000		Okamoto Industries, Inc.		45,604		0.0
	800		Okura Industrial Co., Ltd.		18,785		0.0
	800		Osaka Steel Co., Ltd.		15,249		0.0
	1,000		OSAKA Titanium Technologies Co., Ltd.		14,906		0.0
	700	⁽²⁾	Pacific Metals Co., Ltd.		25,680		0.0
	800		Pack Corp.		25,827		0.0
	800		Rasa Industries Ltd.		20,915		0.0
	11,400		Rengo Co., Ltd.		100,265		0.1
	3,000		Riken Technos Corp.		14,982		0.0
	1,000		Sakai Chemical Industry Co. Ltd.		26,886		0.0
	2,500		Sakata INX Corp.		32,607		0.0
	700		Sanyo Chemical Industries Ltd.		30,292		0.0
	1,300		Sanyo Special Steel Co., Ltd.		30,999		0.0
	1,100	⁽¹⁾	Seiko PMC Corp.		10,213		0.0
	1,800		Sekisui Plastics Co., Ltd.		17,992		0.0
	2,000		Shikoku Chemicals Corp.		27,884		0.0
	400		Shinagawa Refractories Co., Ltd.		12,781		0.0
	19,500		Shin-Etsu Chemical Co., Ltd.		1,732,935		0.7
	2,600		Shin-Etsu Polymer Co., Ltd.		24,212		0.0
	7,900		Showa Denko KK		349,704		0.2
	700		Stella Chemifa Corp.		24,025		0.0
	9,000		Sumitomo Bakelite Co., Ltd.		86,631		0.0
	86,000		Sumitomo Chemical Co., Ltd.		486,384		0.2
	14,200		Sumitomo Metal Mining Co., Ltd.		541,968		0.2
	21,000		Sumitomo Osaka Cement Co., Ltd.		98,329		0.1
	600		Sumitomo Seika Chemicals Co., Ltd.		29,922		0.0
	1,300		T Hasegawa Co., Ltd.		28,340		0.0
	7,112		Taiheiyo Cement Corp.		233,959		0.1
	800		Taisei Lamick Co., Ltd.		22,495		0.0
	900		Taiyo Ink Manufacturing Co., Ltd.		36,907		0.0
	9,000		Taiyo Nippon Sanso Corp.		128,837		0.1
	700		Takasago International Corp.		22,397		0.0
	3,200		CI Takiron Corp.		17,987		0.0
	500		Tayca Corp.		10,109		0.0
	9,300		Teijin Ltd.		170,355		0.1
	1,100		Tenma Corp.		19,705		0.0
	6,700		Toagosei Co., Ltd.		77,313		0.0
	400		Toda Kogyo Corp.		10,275		0.0
	2,600		Toho Titanium Co., Ltd.		23,828		0.0
	700		Toho Zinc Co., Ltd.		25,859		0.0
	10,300	⁽¹⁾	Tokai Carbon Co., Ltd.		184,506		0.1
	700		Tokushu Tokai Holdings Co., Ltd.		27,498		0.0
	3,500		Tokuyama Corp.		112,103		0.1
	2,100		Tokyo Ohka Kogyo Co., Ltd.		80,910		0.0

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Materials: (continued)
	1,100		Tokyo Rope Manufacturing Co., Ltd.		17,514		0.0
	6,300		Tokyo Steel Manufacturing Co., Ltd.		55,891		0.0
	1,000		Tokyo Tekko Co., Ltd.		14,337		0.0
	3,000		Tomoegawa Co., Ltd.		6,868		0.0
	900		Tomoku Co., Ltd.		16,529		0.0
	1,000		Topy Industries Ltd.		27,724		0.0
	84,600		Toray Industries, Inc.		667,736		0.3
	17,000		Tosoh Corp.		262,857		0.1
	2,200		Toyo Ink SC Holdings Co., Ltd.		57,317		0.0
	6,900		Toyo Seikan Group Holdings, Ltd.		121,094		0.1
	4,200		Toyobo Co., Ltd.		69,817		0.0
	1,400		TYK Corp.		4,821		0.0
	5,900		Ube Industries Ltd.		153,195		0.1
	1,000		Wood One Co., Ltd.		12,866		0.0
	1,800		W-Scope Corp.		26,072		0.0
	2,400		Yamato Kogyo Co., Ltd.		72,400		0.0
	1,500		Yodogawa Steel Works Ltd.		38,256		0.0
	1,100		Yushiro Chemical Industry Co., Ltd.		16,811		0.0
	9,900		Zeon Corp.		116,788		0.1
					16,998,350		6.6

			Real Estate: 3.0%
	7,370		Aeon Mall Co., Ltd.		132,211		0.1
	1,800		Airport Facilities Co., Ltd.		10,009		0.0
	3,200		Daibiru Corp.		32,590		0.0
	1,600		Daikyo, Inc.		34,968		0.0
	4,500		Daito Trust Construction Co., Ltd.		732,032		0.3
	37,160		Daiwa House Industry Co., Ltd.		1,264,251		0.5
	1,120		Goldcrest Co., Ltd.		18,193		0.0
	2,400		Heiwa Real Estate Co., Ltd.		42,718		0.0
	14,600		Ichigo, Inc.		68,386		0.0
	1,000		Tateru, Inc.		16,460		0.0
	1,000		Katitas Co. Ltd.		35,446		0.0
	2,600		Keihanshin Building Co. Ltd.		21,443		0.0
	15,200		Kenedix, Inc.		92,220		0.0
	13,900		Leopalace21 Corp.		76,051		0.0
	82,600		Mitsubishi Estate Co., Ltd.		1,441,941		0.6
	55,300		Mitsui Fudosan Co., Ltd.		1,332,082		0.5
	7,400		Nomura Real Estate Holdings, Inc.		163,842		0.1
	7,200		NTT Urban Development Corp.		77,347		0.0
	1,900		Open House Co. Ltd.		112,271		0.1
	6,200		Relo Holdings, Inc.		163,346		0.1
	23,600		Hulic Co. Ltd.		251,885		0.1
	27,000		Sumitomo Realty & Development Co., Ltd.		994,274		0.4
	1,800		Sun Frontier Fudousan Co., Ltd.		21,247		0.0
	6,000		Takara Leben Co., Ltd.		22,451		0.0
	3,900		TOC Co., Ltd.		28,369		0.0
	300		Tokyo Rakutenchi Co., Ltd.		15,583		0.0
	12,500		Tokyo Tatemono Co., Ltd.		171,459		0.1
	700		Tokyo Theatres Co., Inc.		8,983		0.0
	27,396		Tokyu Fudosan Holdings Corp.		193,250		0.1
	1,800		Tosei Corp.		19,040		0.0
	1,500		Unizo Holdings Co. Ltd.		27,905		0.0
					7,622,253		3.0

			Telecommunication Services: 4.6%
	17,400	^(1),(2)	Japan Communications, Inc.		27,280		0.0
	96,700		KDDI Corp.		2,644,253		1.0
	78,600		Nippon Telegraph & Telephone Corp.		3,570,642		1.4
	78,300		NTT DoCoMo, Inc.		1,995,269		0.8
	49,750		SoftBank Group Corp.		3,552,556		1.4
					11,790,000		4.6

			Utilities: 1.7%
	34,300		Chubu Electric Power Co., Inc.		514,308		0.2
	15,100	⁽¹⁾	Chugoku Electric Power Co., Inc.		195,063		0.1
	8,800		Electric Power Development Co., Ltd.		227,131		0.1
	1,900		eRex Co. Ltd.		19,933		0.0
	12,100		Hokkaido Electric Power Co., Inc.		82,369		0.0
	2,000		Hokkaido Gas Co., Ltd.		5,690		0.0
	11,200	⁽²⁾	Hokuriku Electric Power Co.		112,493		0.0
	800		K&O Energy Group, Inc.		13,496		0.0
	45,900		Kansai Electric Power Co., Inc.		669,409		0.3
	24,900		Kyushu Electric Power Co., Inc.		278,027		0.1
	2,100		Nippon Gas Co., Ltd.		122,272		0.0
	2,321		Okinawa Electric Power Co., Inc.		48,418		0.0
	21,400		Osaka Gas Co., Ltd.		443,108		0.2
	400	⁽²⁾	RENOVA, Inc.		5,161		0.0
	1,600		Saibu Gas Co., Ltd.		43,262		0.0
	10,200		Shikoku Electric Power Co., Inc.		136,426		0.1
	3,500		Shizuoka Gas Co., Ltd.		32,081		0.0
	5,600		Toho Gas Co., Ltd.		193,995		0.1
	26,300		Tohoku Electric Power Co., Inc.		321,337		0.1
	89,500	⁽²⁾	Tokyo Electric Power Co., Inc.		416,672		0.2
	23,800		Tokyo Gas Co., Ltd.		631,944		0.2
					4,512,595		1.7

		Total Common Stock
		(Cost $178,073,752)			249,363,859		96.7

See Accompanying Notes to Financial Statements

Voya Japan TOPIX Index^® Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.3%
			Securities Lending Collateral⁽⁴⁾: 1.8%
	1,079,878		Bank of Nova Scotia, Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $1,080,066, collateralized by various U.S. Government Agency Obligations, 2.500%-6.430%, Market Value plus accrued interest $1,101,670, due 02/01/21-06/01/48)		1,079,878		0.5
	1,079,878		Dominion Securities Inc., Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $1,080,065, collateralized by various U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $1,101,476, due 11/01/36-06/01/48)		1,079,878		0.4
	1,079,878		Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,080,080, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,101,476, due 11/15/42-08/15/44)		1,079,878		0.4
	1,079,878		National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $1,080,056, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $1,101,476, due 09/06/18-09/09/49)		1,079,878		0.4
	227,091		Natwest Markets PLC, Repurchase Agreement dated 06/29/18, 2.09%, due 07/02/18 (Repurchase Amount $227,130, collateralized by various U.S. Government Securities, 2.500%-6.625%, Market Value plus accrued interest $231,635, due 05/15/20-05/15/46)		227,091		0.1
					4,546,603		1.8

Shares				Value		Percentage of Net Assets
			Mutual Funds: 0.5%
	1,398,000	⁽⁵⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $1,398,000)		1,398,000		0.5

		Total Short-Term Investments
		(Cost $5,944,603)			5,944,603		2.3

		Total Investments in Securities (Cost $184,018,355)		$	255,308,462		99.0
		Assets in Excess of Other Liabilities			2,501,760		1.0
		Net Assets		$	257,810,222		100.0

†	Unless otherwise indicated, principal amount is shown in USD.
(1)	Security, or a portion of the security, is on loan.
(2)	Non-income producing security.
(3)	For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.
(4)	Represents securities purchased with cash collateral received for securities on loan.
(5)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 97.9%
			Consumer Discretionary: 17.2%
	28,028	⁽¹⁾	Amazon.com, Inc.		47,641,994		6.5
	3,501	⁽¹⁾	Booking Holdings, Inc.		7,096,842		1.0
	9,179	⁽¹⁾	Charter Communications, Inc.		2,691,375		0.4
	83,888		Home Depot, Inc.		16,366,549		2.2
	15,870		Las Vegas Sands Corp.		1,211,833		0.2
	60,115		Lowe's Cos, Inc.		5,745,190		0.8
	21,306		Marriott International, Inc.		2,697,340		0.4
	11,098		McDonald's Corp.		1,738,946		0.2
	30,325	⁽¹⁾	Netflix, Inc.		11,870,115		1.6
	91,311		Nike, Inc.		7,275,660		1.0
	97,768		Starbucks Corp.		4,775,967		0.6
	9,854	^(1),(2)	Tesla, Inc.		3,379,429		0.5
	45,628		TJX Cos., Inc.		4,342,873		0.6
	77,696		Walt Disney Co.		8,143,318		1.1
	6,870		Yum! Brands, Inc.		537,371		0.1
					125,514,802		17.2

			Consumer Staples: 6.3%
	137,805		Altria Group, Inc.		7,825,946		1.1
	216,052		Coca-Cola Co.		9,476,041		1.3
	11,537		Colgate-Palmolive Co.		747,713		0.1
	11,416		Constellation Brands, Inc.		2,498,620		0.4
	31,797		Costco Wholesale Corp.		6,644,937		0.9
	15,848		Estee Lauder Cos., Inc.		2,261,351		0.3
	2,197		General Mills, Inc.		97,239		0.0
	22,048		Kimberly-Clark Corp.		2,322,536		0.3
	29,555	⁽¹⁾	Monster Beverage Corp.		1,693,502		0.2
	91,454		PepsiCo, Inc.		9,956,597		1.4
	34,649		Sysco Corp.		2,366,180		0.3
					45,890,662		6.3

			Energy: 0.8%
	12,585		Anadarko Petroleum Corp.		921,851		0.1
	4,756		EOG Resources, Inc.		591,789		0.1
	63,516		Halliburton Co.		2,862,031		0.4
	6,786		Pioneer Natural Resources Co.		1,284,183		0.2
					5,659,854		0.8

			Financials: 3.6%
	9,422		American International Group, Inc.		499,554		0.1
	35,178		American Express Co.		3,447,444		0.5
	17,747		Aon PLC		2,434,356		0.3
	17,767	⁽¹⁾	Berkshire Hathaway, Inc. – Class B		3,316,210		0.5
	2,714		Capital One Financial Corp.		249,417		0.0
	87,407		Charles Schwab Corp.		4,466,498		0.6
	2,227		CME Group, Inc.		365,050		0.1
	21,478		Intercontinental Exchange, Inc.		1,579,707		0.2
	17,232		Marsh & McLennan Cos., Inc.		1,412,507		0.2
	42,167		Progressive Corp.		2,494,178		0.3
	18,281		S&P Global, Inc.		3,727,313		0.5
	1,664		State Street Corp.		154,902		0.0
	20,479		TD Ameritrade Holding Corp.		1,121,635		0.2
	3,832		Travelers Cos., Inc.		468,807		0.1
					25,737,578		3.6

			Health Care: 12.9%
	115,580		AbbVie, Inc.		10,708,487		1.5
	8,424		Aetna, Inc.		1,545,804		0.2
	12,917	⁽¹⁾	Alexion Pharmaceuticals, Inc.		1,603,646		0.2
	45,335		Amgen, Inc.		8,368,388		1.2
	4,074		Baxter International, Inc.		300,824		0.0
	1,755		Becton Dickinson & Co.		420,428		0.1
	14,539	⁽¹⁾	Biogen, Inc.		4,219,799		0.6
	77,092	⁽¹⁾	Boston Scientific Corp.		2,520,908		0.3
	63,323		Bristol-Myers Squibb Co.		3,504,295		0.5
	52,620	⁽¹⁾	Celgene Corp.		4,179,080		0.6
	6,833		Cigna Corp.		1,161,268		0.2
	43,192		Eli Lilly & Co.		3,685,573		0.5
	3,353	⁽¹⁾	Express Scripts Holding Co.		258,885		0.0
	70,179		Gilead Sciences, Inc.		4,971,480		0.7
	14,369		HCA Healthcare, Inc.		1,474,259		0.2
	9,498		Humana, Inc.		2,826,890		0.4
	10,671	⁽¹⁾	Illumina, Inc.		2,980,304		0.4
	8,175	⁽¹⁾	Intuitive Surgical, Inc.		3,911,574		0.5
	35,172		Johnson & Johnson		4,267,771		0.6
	1,861		McKesson Corp.		248,257		0.0
	13,135		Merck & Co., Inc.		797,295		0.1
	5,796	⁽¹⁾	Regeneron Pharmaceuticals, Inc.		1,999,562		0.3
	24,854		Stryker Corp.		4,196,846		0.6
	1,723		Thermo Fisher Scientific, Inc.		356,902		0.1
	69,572		UnitedHealth Group, Inc.		17,068,795		2.3
	18,554	⁽¹⁾	Vertex Pharmaceuticals, Inc.		3,153,438		0.4
	35,241		Zoetis, Inc.		3,002,181		0.4
					93,732,939		12.9

			Industrials: 10.5%
	35,054		3M Co.		6,895,823		0.9
	39,980		Boeing Co.		13,413,690		1.8
	38,826		Caterpillar, Inc.		5,267,523		0.7
	28,423		CSX Corp.		1,812,819		0.2
	23,549		Deere & Co.		3,292,150		0.5
	11,780		Delta Air Lines, Inc.		583,581		0.1
	32,414		Emerson Electric Co.		2,241,104		0.3
	18,006		FedEx Corp.		4,088,442		0.6
	8,484		General Dynamics Corp.		1,581,503		0.2
	33,685		Honeywell International, Inc.		4,852,324		0.7
	24,558		Illinois Tool Works, Inc.		3,402,265		0.5
	16,483		Lockheed Martin Corp.		4,869,573		0.7
	11,769		Northrop Grumman Corp.		3,621,321		0.5
	20,898		Raytheon Co.		4,037,076		0.6
	27,520		Southwest Airlines Co.		1,400,218		0.2
	51,538		Union Pacific Corp.		7,301,904		1.0
	50,257		United Parcel Service, Inc. - Class B		5,338,801		0.7

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials:(continued)
	26,594		Waste Management, Inc.		2,163,156		0.3
					76,163,273		10.5

			Information Technology: 43.3%
	46,797		Accenture PLC		7,655,521		1.0
	54,790		Activision Blizzard, Inc.		4,181,573		0.6
	35,778	⁽¹⁾	Adobe Systems, Inc.		8,723,034		1.2
	20,787	⁽¹⁾	Alphabet, Inc. - Class A		23,472,472		3.2
	21,116	⁽¹⁾	Alphabet, Inc. - Class C		23,558,065		3.2
	354,606		Apple, Inc.		65,641,117		9.0
	76,409		Applied Materials, Inc.		3,529,332		0.5
	32,054		Automatic Data Processing, Inc.		4,299,724		0.6
	18,795		Broadcom, Inc.		4,560,419		0.6
	38,300		Cognizant Technology Solutions Corp.		3,025,317		0.4
	14,768	⁽¹⁾	eBay, Inc.		535,488		0.1
	21,903	⁽¹⁾	Electronic Arts, Inc.		3,088,761		0.4
	173,079	⁽¹⁾	Facebook, Inc.- Class A		33,632,711		4.6
	48,078		International Business Machines Corp.		6,716,497		0.9
	17,739		Intuit, Inc.		3,624,166		0.5
	66,866		Mastercard, Inc. - Class A		13,140,506		1.8
	65,938	⁽¹⁾	Micron Technology, Inc.		3,457,789		0.5
	523,800		Microsoft Corp.		51,651,918		7.1
	42,360		Nvidia Corp.		10,035,084		1.4
	1,329	⁽¹⁾	NXP Semiconductor NV - NXPI - US		145,220		0.0
	20,276		Oracle Corp.		893,361		0.1
	86,460	⁽¹⁾	PayPal Holdings, Inc.		7,199,524		1.0
	51,346	⁽¹⁾	Salesforce.com, Inc.		7,003,594		1.0
	71,296		Texas Instruments, Inc.		7,860,384		1.1
	130,119		Visa, Inc. - Class A		17,234,262		2.4
	4,994	⁽¹⁾	VMware, Inc.		733,968		0.1
					315,599,807		43.3

			Materials: 1.1%
	8,379		Ecolab, Inc.		1,175,825		0.2
	11,164		LyondellBasell Industries NV - Class A		1,226,365		0.2
	1,176		PPG Industries, Inc.		121,987		0.0
	18,681		Praxair, Inc.		2,954,400		0.4
	6,058		Sherwin-Williams Co.		2,469,059		0.3
	5,991		Southern Copper Corp.		280,798		0.0
					8,228,434		1.1

			Real Estate: 2.1%
	31,914		American Tower Corp.		4,601,041		0.6
	22,713		Crown Castle International Corp.		2,448,916		0.3
	5,763		Equinix, Inc.		2,477,456		0.4
	10,794		Public Storage, Inc.		2,448,727		0.3
	20,578		Simon Property Group, Inc.		3,502,170		0.5
					15,478,310		2.1

			Telecommunication Services: 0.1%
	14,584	⁽¹⁾	T-Mobile US, Inc.		871,394		0.1

		Total Common Stock (Cost $286,409,746)			712,877,053		97.9

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.5%
		Securities Lending Collateral⁽³⁾: 0.5%
	2,000,000	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $2,000,342, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $2,040,000, due 07/25/18-06/15/53)		2,000,000		0.3
	486,951	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $487,031, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $496,690, due 07/05/18-09/09/49)		486,951		0.1
	1,000,000	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,000,187, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,020,000, due 11/15/42-08/15/44)		1,000,000		0.1
				3,486,951		0.5

Shares				Value			Percentage of Net Assets
			Mutual Funds: 2.0%
	14,973,000	⁽⁴⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $14,973,000)		14,973,000			2.0

		Total Short-Term Investments (Cost $18,459,951)			18,459,951			2.5

		Total Investments in Securities (Cost $304,869,697)		$	731,337,004			100.4
		Liabilities in Excess of Other Assets			(2,930,528	)		(0.4	)
		Net Assets		$	728,406,476			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
(1)	Non-income producing security.

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

(2)	Security, or a portion of the security, is on loan.
(3)	Represents securities purchased with cash collateral received for securities on loan.
(4)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 98.8%
			Consumer Discretionary: 12.5%
	19,464	⁽¹⁾	Amazon.com, Inc.		33,084,907		3.7
	2,303	⁽¹⁾	Booking Holdings, Inc.		4,668,388		0.5
	19,405		Carnival Corp.		1,112,101		0.1
	8,551	⁽¹⁾	Charter Communications, Inc.		2,507,239		0.3
	218,735		Comcast Corp. – Class A		7,176,695		0.8
	186,796		Ford Motor Co.		2,067,832		0.2
	62,684		General Motors Co.		2,469,750		0.3
	55,181		Home Depot, Inc.		10,765,813		1.2
	17,089		Las Vegas Sands Corp.		1,304,916		0.2
	39,543		Lowe's Cos, Inc.		3,779,124		0.4
	14,014		Marriott International, Inc.		1,774,172		0.2
	37,630		McDonald's Corp.		5,896,245		0.7
	19,948	⁽¹⁾	Netflix, Inc.		7,808,246		0.9
	60,072		Nike, Inc.		4,786,537		0.5
	64,319		Starbucks Corp.		3,141,983		0.4
	25,673		Target Corp.		1,954,229		0.2
	6,482	^(1),(2)	Tesla, Inc.		2,223,002		0.3
	30,017		TJX Cos., Inc.		2,857,018		0.3
	49,955		Twenty-First Century Fox, Inc. - Class A		2,482,264		0.3
	23,387		Twenty-First Century Fox, Inc. - Class B		1,152,277		0.1
	71,380		Walt Disney Co.		7,481,338		0.8
	15,475		Yum! Brands, Inc.		1,210,454		0.1
					111,704,530		12.5

			Consumer Staples: 7.2%
	90,642		Altria Group, Inc.		5,147,559		0.6
	183,126		Coca-Cola Co.		8,031,906		0.9
	40,799		Colgate-Palmolive Co.		2,644,183		0.3
	7,509		Constellation Brands, Inc.		1,643,495		0.2
	20,915		Costco Wholesale Corp.		4,370,817		0.5
	10,421		Estee Lauder Cos., Inc.		1,486,972		0.2
	28,369		General Mills, Inc.		1,255,612		0.1
	16,667		Kimberly-Clark Corp.		1,755,702		0.2
	28,846		Kraft Heinz Co.		1,812,106		0.2
	69,328		Mondelez International, Inc.		2,842,448		0.3
	19,450	⁽¹⁾	Monster Beverage Corp.		1,114,485		0.1
	67,826		PepsiCo, Inc.		7,384,217		0.8
	74,364		Philip Morris International, Inc.		6,004,149		0.7
	120,525		Procter & Gamble Co.		9,408,182		1.0
	22,793		Sysco Corp.		1,556,534		0.2
	40,497		Walgreens Boots Alliance, Inc.		2,430,427		0.3
	68,306		Walmart, Inc.		5,850,409		0.6
					64,739,203		7.2

			Energy: 6.3%
	24,644		Anadarko Petroleum Corp.		1,805,173		0.2
	19,926		Baker Hughes a GE Co.		658,156		0.1
	91,194		Chevron Corp.		11,529,657		1.3
	56,053		ConocoPhillips		3,902,410		0.4
	27,671		EOG Resources, Inc.		3,443,103		0.4
	202,829		Exxon Mobil Corp.		16,780,043		1.9
	41,772		Halliburton Co.		1,882,246		0.2
	90,795		Kinder Morgan, Inc.		1,604,348		0.2
	21,902		Marathon Petroleum Corp.		1,536,644		0.2
	36,673		Occidental Petroleum Corp.		3,068,797		0.3
	20,119		Phillips 66		2,259,565		0.2
	8,101		Pioneer Natural Resources Co.		1,533,033		0.2
	66,360		Schlumberger Ltd.		4,448,111		0.5
	20,598		Valero Energy Corp.		2,282,876		0.2
					56,734,162		6.3

			Financials: 13.8%
	36,577		Aflac, Inc.		1,573,543		0.2
	43,014		American International Group, Inc.		2,280,602		0.3
	16,798		Allstate Corp.		1,533,154		0.2
	33,929		American Express Co.		3,325,042		0.4
	11,672		Aon PLC		1,601,048		0.2
	452,486		Bank of America Corp.		12,755,580		1.4
	44,737		Bank of New York Mellon Corp.		2,412,666		0.3
	37,270		BB&T Corp.		1,879,899		0.2
	92,745	⁽¹⁾	Berkshire Hathaway, Inc. – Class B		17,310,854		1.9
	5,895		Blackrock, Inc.		2,941,841		0.3
	23,178		Capital One Financial Corp.		2,130,058		0.2
	57,492		Charles Schwab Corp.		2,937,841		0.3
	22,181		Chubb Ltd.		2,817,431		0.3
	122,128		Citigroup, Inc.		8,172,806		0.9
	16,259		CME Group, Inc.		2,665,175		0.3
	16,940		Goldman Sachs Group, Inc.		3,736,456		0.4
	27,329		Intercontinental Exchange, Inc.		2,010,048		0.2
	162,216		JPMorgan Chase & Co.		16,902,907		1.9
	24,272		Marsh & McLennan Cos., Inc.		1,989,576		0.2
	41,325		Metlife, Inc.		1,801,770		0.2
	59,727		Morgan Stanley		2,831,060		0.3
	22,456		PNC Financial Services Group, Inc.		3,033,806		0.3
	27,746		Progressive Corp.		1,641,176		0.2
	20,089		Prudential Financial, Inc.		1,878,522		0.2
	12,026		S&P Global, Inc.		2,451,981		0.3
	17,336		State Street Corp.		1,613,808		0.2
	13,475		TD Ameritrade Holding Corp.		738,026		0.1
	12,914		Travelers Cos., Inc.		1,579,899		0.2
	73,606		US Bancorp		3,681,772		0.4
	210,285		Wells Fargo & Co.		11,658,200		1.3
					123,886,547		13.8

			Health Care: 15.0%
	81,910		Abbott Laboratories		4,995,691		0.6
	76,023		AbbVie, Inc.		7,043,531		0.8
	15,309		Aetna, Inc.		2,809,202		0.3
	10,237	⁽¹⁾	Alexion Pharmaceuticals, Inc.		1,270,924		0.1
	16,217		Allergan plc		2,703,698		0.3
	31,692		Amgen, Inc.		5,850,026		0.7
	12,226		Anthem, Inc.		2,910,155		0.3

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	23,939		Baxter International, Inc.		1,767,656		0.2
	12,679		Becton Dickinson & Co.		3,037,381		0.3
	10,089	⁽¹⁾	Biogen, Inc.		2,928,231		0.3
	65,946	⁽¹⁾	Boston Scientific Corp.		2,156,434		0.2
	78,291		Bristol-Myers Squibb Co.		4,332,624		0.5
	34,612	⁽¹⁾	Celgene Corp.		2,748,885		0.3
	11,296		Cigna Corp.		1,919,755		0.2
	48,645		CVS Health Corp.		3,130,306		0.4
	29,584		Danaher Corp.		2,919,349		0.3
	46,118		Eli Lilly & Co.		3,935,249		0.4
	26,872	⁽¹⁾	Express Scripts Holding Co.		2,074,787		0.2
	61,968		Gilead Sciences, Inc.		4,389,813		0.5
	13,254		HCA Healthcare, Inc.		1,359,860		0.2
	6,584		Humana, Inc.		1,959,596		0.2
	7,020	⁽¹⁾	Illumina, Inc.		1,960,616		0.2
	5,378	⁽¹⁾	Intuitive Surgical, Inc.		2,573,266		0.3
	128,536		Johnson & Johnson		15,596,558		1.7
	9,857		McKesson Corp.		1,314,924		0.2
	64,781		Medtronic PLC		5,545,901		0.6
	128,909		Merck & Co., Inc.		7,824,776		0.9
	277,773		Pfizer, Inc.		10,077,605		1.1
	3,813	⁽¹⁾	Regeneron Pharmaceuticals, Inc.		1,315,447		0.2
	16,349		Stryker Corp.		2,760,692		0.3
	19,195		Thermo Fisher Scientific, Inc.		3,976,052		0.5
	45,761		UnitedHealth Group, Inc.		11,227,004		1.3
	12,204	⁽¹⁾	Vertex Pharmaceuticals, Inc.		2,074,192		0.2
	23,178		Zoetis, Inc.		1,974,534		0.2
					134,464,720		15.0

			Industrials: 8.3%
	27,614		3M Co.		5,432,226		0.6
	26,298		Boeing Co.		8,823,242		1.0
	27,787		Caterpillar, Inc.		3,769,862		0.4
	39,856		CSX Corp.		2,542,016		0.3
	15,491		Deere & Co.		2,165,642		0.2
	31,000		Delta Air Lines, Inc.		1,535,740		0.2
	20,906		Eaton Corp. PLC		1,562,514		0.2
	30,029		Emerson Electric Co.		2,076,205		0.2
	11,844		FedEx Corp.		2,689,299		0.3
	12,403		General Dynamics Corp.		2,312,043		0.3
	412,652		General Electric Co.		5,616,194		0.6
	35,680		Honeywell International, Inc.		5,139,704		0.6
	16,157		Illinois Tool Works, Inc.		2,238,391		0.2
	44,207		Johnson Controls International plc		1,478,724		0.2
	11,875		Lockheed Martin Corp.		3,508,231		0.4
	13,515		Norfolk Southern Corp.		2,039,008		0.2
	7,742		Northrop Grumman Corp.		2,382,213		0.3
	13,745		Raytheon Co.		2,655,259		0.3
	25,466		Southwest Airlines Co.		1,295,710		0.1
	36,892		Union Pacific Corp.		5,226,859		0.6
	33,063		United Parcel Service, Inc. - Class B		3,512,283		0.4
	35,848		United Technologies Corp.		4,482,075		0.5
	20,627		Waste Management, Inc.		1,677,800		0.2
					74,161,240		8.3

			Information Technology: 28.2%
	30,779		Accenture PLC		5,035,137		0.6
	36,037		Activision Blizzard, Inc.		2,750,344		0.3
	23,534	⁽¹⁾	Adobe Systems, Inc.		5,737,825		0.6
	14,302	⁽¹⁾	Alphabet, Inc. - Class A		16,149,675		1.8
	14,578	⁽¹⁾	Alphabet, Inc. - Class C		16,263,946		1.8
	235,513		Apple, Inc.		43,595,811		4.9
	50,256		Applied Materials, Inc.		2,321,325		0.3
	21,083		Automatic Data Processing, Inc.		2,828,074		0.3
	20,640		Broadcom, Inc.		5,008,090		0.6
	230,882		Cisco Systems, Inc.		9,934,852		1.1
	27,925		Cognizant Technology Solutions Corp.		2,205,796		0.2
	44,759	⁽¹⁾	eBay, Inc.		1,622,961		0.2
	14,406	⁽¹⁾	Electronic Arts, Inc.		2,031,534		0.2
	113,848	⁽¹⁾	Facebook, Inc.- Class A		22,122,943		2.5
	74,276		Hewlett Packard Enterprise Co.		1,085,172		0.1
	78,625		HP, Inc.		1,784,001		0.2
	223,357		Intel Corp.		11,103,077		1.2
	43,980		International Business Machines Corp.		6,144,006		0.7
	11,670		Intuit, Inc.		2,384,239		0.3
	43,984		Mastercard, Inc. - Class A		8,643,736		1.0
	55,388	⁽¹⁾	Micron Technology, Inc.		2,904,547		0.3
	362,867		Microsoft Corp.		35,782,315		4.0
	27,864		Nvidia Corp.		6,600,982		0.7
	16,463	⁽¹⁾	NXP Semiconductor NV - NXPI - US		1,798,912		0.2
	137,557		Oracle Corp.		6,060,761		0.7
	56,873	⁽¹⁾	PayPal Holdings, Inc.		4,735,815		0.5
	70,974		Qualcomm, Inc.		3,983,061		0.4
	33,776	⁽¹⁾	Salesforce.com, Inc.		4,607,046		0.5
	46,895		Texas Instruments, Inc.		5,170,174		0.6
	85,592		Visa, Inc. - Class A		11,336,660		1.3
	3,289	⁽¹⁾	VMware, Inc.		483,384		0.1
					252,216,201		28.2

			Materials: 2.0%
	10,489		Air Products & Chemicals, Inc.		1,633,452		0.2
	111,159		DowDuPont, Inc.		7,327,601		0.8
	12,195		Ecolab, Inc.		1,711,324		0.2
	15,361		LyondellBasell Industries NV - Class A		1,687,406		0.2
	11,927		PPG Industries, Inc.		1,237,188		0.1
	13,746		Praxair, Inc.		2,173,930		0.3
	3,984		Sherwin-Williams Co.		1,623,759		0.2
	3,942		Southern Copper Corp.		184,762		0.0
					17,579,422		2.0

			Real Estate: 1.4%
	20,991		American Tower Corp.		3,026,272		0.3
	19,814		Crown Castle International Corp.		2,136,346		0.2
	3,792		Equinix, Inc.		1,630,143		0.2
	25,360		ProLogis, Inc.		1,665,898		0.2
	7,098		Public Storage, Inc.		1,610,252		0.2

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate: (continued)
	14,745		Simon Property Group, Inc.		2,509,452		0.3
					12,578,363		1.4

			Telecommunication Services: 2.5%
	348,024		AT&T, Inc.		11,175,050		1.3
	14,696	⁽¹⁾	T-Mobile US, Inc.		878,086		0.1
	198,054		Verizon Communications, Inc.		9,964,097		1.1
					22,017,233		2.5

			Utilities: 1.6%
	23,602		American Electric Power Co., Inc.		1,634,439		0.2
	31,182		Dominion Energy, Inc.		2,125,989		0.2
	33,592		Duke Energy Corp.		2,656,455		0.3
	46,175		Exelon Corp.		1,967,055		0.2
	22,542		NextEra Energy, Inc.		3,765,190		0.4
	48,459		Southern Co.		2,244,136		0.3
					14,393,264		1.6

		Total Common Stock (Cost $312,528,107)			884,474,885		98.8

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 1.3%
		Securities Lending Collateral⁽³⁾: 0.3%
	1,000,000	Dominion Securities Inc., Repurchase Agreement dated 06/29/18, 2.11%, due 07/02/18 (Repurchase Amount $1,000,173, collateralized by various U.S. Government Agency Obligations, 3.000%-7.000%, Market Value plus accrued interest $1,020,000, due 11/01/36-06/01/48)		1,000,000		0.1
	1,000,000	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $1,000,187, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $1,020,000, due 11/15/42-08/15/44)		1,000,000		0.1
	293,992	Natwest Markets PLC, Repurchase Agreement dated 06/29/18, 2.09%, due 07/02/18 (Repurchase Amount $294,043, collateralized by various U.S. Government Securities, 2.500%-6.625%, Market Value plus accrued interest $299,875, due 05/15/20-05/15/46)		293,992		0.1
				2,293,992		0.3

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.0%
	9,160,000	⁽⁴⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $9,160,000)		9,160,000			1.0

		Total Short-Term Investments (Cost $11,453,992)			11,453,992			1.3

		Total Investments in Securities (Cost $323,982,099)		$	895,928,877			100.1
		Liabilities in Excess of Other Assets			(1,175,392	)		(0.1	)
		Net Assets		$	894,753,485			100.0

†	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)	Represents securities purchased with cash collateral received for securities on loan.
(4)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Value Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.3%
			Consumer Discretionary: 6.6%
	18,039		Carnival Corp.		1,033,815		0.3
	2,338	⁽¹⁾	Charter Communications, Inc.		685,525		0.2
	203,397		Comcast Corp. – Class A		6,673,456		1.7
	173,683		Ford Motor Co.		1,922,671		0.5
	58,289		General Motors Co.		2,296,587		0.6
	6,182		Las Vegas Sands Corp.		472,058		0.1
	28,203		McDonald's Corp.		4,419,128		1.1
	23,870		Target Corp.		1,816,984		0.5
	46,445		Twenty-First Century Fox, Inc. - Class A		2,307,852		0.6
	21,742		Twenty-First Century Fox, Inc. - Class B		1,071,228		0.3
	18,850		Walt Disney Co.		1,975,668		0.5
	10,192		Yum! Brands, Inc.		797,218		0.2
					25,472,190		6.6

			Consumer Staples: 8.3%
	38,145		Coca-Cola Co.		1,673,040		0.4
	30,876		Colgate-Palmolive Co.		2,001,073		0.5
	25,026		General Mills, Inc.		1,107,651		0.3
	2,014		Kimberly-Clark Corp.		212,155		0.1
	26,821		Kraft Heinz Co.		1,684,895		0.4
	64,464		Mondelez International, Inc.		2,643,024		0.7
	7,126		PepsiCo, Inc.		775,807		0.2
	69,155		Philip Morris International, Inc.		5,583,575		1.4
	112,079		Procter & Gamble Co.		8,748,887		2.3
	37,661		Walgreens Boots Alliance, Inc.		2,260,225		0.6
	63,519		Walmart, Inc.		5,440,402		1.4
					32,130,734		8.3

			Energy: 12.8%
	15,213		Anadarko Petroleum Corp.		1,114,352		0.3
	18,517		Baker Hughes a GE Co.		611,617		0.2
	84,804		Chevron Corp.		10,721,770		2.8
	52,122		ConocoPhillips		3,628,734		0.9
	22,824		EOG Resources, Inc.		2,839,990		0.7
	188,621		Exxon Mobil Corp.		15,604,615		4.0
	84,433		Kinder Morgan, Inc.		1,491,931		0.4
	20,366		Marathon Petroleum Corp.		1,428,879		0.4
	34,105		Occidental Petroleum Corp.		2,853,906		0.7
	18,711		Phillips 66		2,101,432		0.5
	3,382		Pioneer Natural Resources Co.		640,010		0.2
	61,703		Schlumberger Ltd.		4,135,952		1.1
	19,159		Valero Energy Corp.		2,123,392		0.6
					49,296,580		12.8

			Financials: 25.8%
	34,008		Aflac, Inc.		1,463,024		0.4
	34,242		American International Group, Inc.		1,815,511		0.5
	15,621		Allstate Corp.		1,425,729		0.4
	10,032		American Express Co.		983,136		0.2
	420,764		Bank of America Corp.		11,861,337		3.1
	41,610		Bank of New York Mellon Corp.		2,244,027		0.6
	34,657		BB&T Corp.		1,748,099		0.4
	75,381	⁽¹⁾	Berkshire Hathaway, Inc. – Class B		14,069,864		3.6
	5,482		Blackrock, Inc.		2,735,737		0.7
	19,892		Capital One Financial Corp.		1,828,075		0.5
	20,627		Chubb Ltd.		2,620,042		0.7
	113,563		Citigroup, Inc.		7,599,636		2.0
	13,758		CME Group, Inc.		2,255,211		0.6
	15,754		Goldman Sachs Group, Inc.		3,474,860		0.9
	12,275		Intercontinental Exchange, Inc.		902,826		0.2
	150,846		JPMorgan Chase & Co.		15,718,153		4.1
	12,032		Marsh & McLennan Cos., Inc.		986,263		0.3
	38,421		Metlife, Inc.		1,675,156		0.4
	55,545		Morgan Stanley		2,632,833		0.7
	20,884		PNC Financial Services Group, Inc.		2,821,428		0.7
	18,687		Prudential Financial, Inc.		1,747,421		0.4
	15,106		State Street Corp.		1,406,218		0.4
	9,669		Travelers Cos., Inc.		1,182,906		0.3
	68,440		US Bancorp		3,423,369		0.9
	195,546		Wells Fargo & Co.		10,841,070		2.8
					99,461,931		25.8

			Health Care: 17.5%
	76,171		Abbott Laboratories		4,645,669		1.2
	9,083		Aetna, Inc.		1,666,731		0.4
	1,620	⁽¹⁾	Alexion Pharmaceuticals, Inc.		201,123		0.0
	15,082		Allergan plc		2,514,471		0.6
	1,739		Amgen, Inc.		321,002		0.1
	11,369		Anthem, Inc.		2,706,163		0.7
	19,769		Baxter International, Inc.		1,459,743		0.4
	10,718		Becton Dickinson & Co.		2,567,604		0.7
	488	⁽¹⁾	Biogen, Inc.		141,637		0.0
	14,160	⁽¹⁾	Boston Scientific Corp.		463,032		0.1
	34,071		Bristol-Myers Squibb Co.		1,885,489		0.5
	6,324		Cigna Corp.		1,074,764		0.3
	45,239		CVS Health Corp.		2,911,130		0.7
	27,511		Danaher Corp.		2,714,786		0.7
	16,470		Eli Lilly & Co.		1,405,385		0.4
	22,940	⁽¹⁾	Express Scripts Holding Co.		1,771,197		0.5
	14,696		Gilead Sciences, Inc.		1,041,065		0.3
	3,537		HCA Healthcare, Inc.		362,896		0.1
	312		Humana, Inc.		92,861		0.0
	98,015		Johnson & Johnson		11,893,140		3.1
	8,030		McKesson Corp.		1,071,202		0.3
	60,240		Medtronic PLC		5,157,146		1.3
	111,849		Merck & Co., Inc.		6,789,234		1.8
	258,315		Pfizer, Inc.		9,371,668		2.4
	16,796		Thermo Fisher Scientific, Inc.		3,479,123		0.9
					67,708,261		17.5

			Industrials: 5.8%
	4,237		3M Co.		833,503		0.2
	2,093		Caterpillar, Inc.		283,957		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Large Cap Value Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	19,679		CSX Corp.		1,255,127		0.3
	21,619		Delta Air Lines, Inc.		1,071,005		0.3
	19,444		Eaton Corp. PLC		1,453,245		0.4
	8,100		Emerson Electric Co.		560,034		0.1
	6,344		General Dynamics Corp.		1,182,585		0.3
	383,750		General Electric Co.		5,222,837		1.3
	12,576		Honeywell International, Inc.		1,811,573		0.5
	41,113		Johnson Controls International plc		1,375,230		0.3
	961		Lockheed Martin Corp.		283,908		0.1
	12,565		Norfolk Southern Corp.		1,895,682		0.5
	6,841		Southwest Airlines Co.		348,070		0.1
	2,778		Union Pacific Corp.		393,587		0.1
	33,339		United Technologies Corp.		4,168,375		1.1
	2,915		Waste Management, Inc.		237,106		0.1
					22,375,824		5.8

			Information Technology: 10.3%
	7,697		Broadcom, Inc.		1,867,600		0.5
	214,702		Cisco Systems, Inc.		9,238,627		2.4
	2,544		Cognizant Technology Solutions Corp.		200,951		0.0
	32,586	⁽¹⁾	eBay, Inc.		1,181,568		0.3
	69,088		Hewlett Packard Enterprise Co.		1,009,376		0.3
	73,098		HP, Inc.		1,658,594		0.4
	207,698		Intel Corp.		10,324,668		2.7
	11,493		International Business Machines Corp.		1,605,572		0.4
	11,176	⁽¹⁾	Micron Technology, Inc.		586,069		0.1
	17,886		Microsoft Corp.		1,763,738		0.5
	14,493	⁽¹⁾	NXP Semiconductor NV - NXPI - US		1,583,650		0.4
	115,502		Oracle Corp.		5,089,018		1.3
	66,000		Qualcomm, Inc.		3,703,920		1.0
					39,813,351		10.3

			Materials: 2.9%
	9,755		Air Products & Chemicals, Inc.		1,519,146		0.4
	103,366		DowDuPont, Inc.		6,813,887		1.8
	6,214		Ecolab, Inc.		872,011		0.2
	7,457		LyondellBasell Industries NV - Class A		819,151		0.2
	10,367		PPG Industries, Inc.		1,075,369		0.3
	1,356		Praxair, Inc.		214,451		0.0
					11,314,015		2.9

			Real Estate: 0.6%
	4,532		Crown Castle International Corp.		488,640		0.1
	23,584		ProLogis, Inc.		1,549,233		0.4
	1,124		Simon Property Group, Inc.		191,294		0.1
					2,229,167		0.6

			Telecommunication Services: 5.2%
	323,628		AT&T, Inc.		10,391,695		2.7
	4,741	⁽¹⁾	T-Mobile US, Inc.		283,275		0.1
	184,174		Verizon Communications, Inc.		9,265,794		2.4
					19,940,764		5.2

			Utilities: 3.5%
	21,952		American Electric Power Co., Inc.		1,520,176		0.4
	28,995		Dominion Energy, Inc.		1,976,879		0.5
	31,235		Duke Energy Corp.		2,470,064		0.6
	42,931		Exelon Corp.		1,828,860		0.5
	20,963		NextEra Energy, Inc.		3,501,450		0.9
	45,067		Southern Co.		2,087,053		0.6
					13,384,482		3.5

		Total Common Stock (Cost $287,236,266)			383,127,299		99.3

SHORT-TERM INVESTMENTS: 0.7%
			Mutual Funds: 0.7%
	2,711,000	⁽²⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $2,711,000)		2,711,000		0.7

		Total Short-Term Investments (Cost $2,711,000)			2,711,000		0.7

		Total Investments in Securities (Cost $289,947,266)		$	385,838,299		100.0
		Assets in Excess of Other Liabilities			161,025		0.0
		Net Assets		$	385,999,324		100.0

(1)	Non-income producing security.
(2)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.0%
			Consumer Discretionary: 18.0%
	2,246		Advance Auto Parts, Inc.		304,782		0.1
	4,612	⁽¹⁾	AMC Networks, Inc.		286,866		0.1
	2,442	⁽¹⁾	Autozone, Inc.		1,638,411		0.5
	6,426		Best Buy Co., Inc.		479,251		0.2
	5,032	⁽¹⁾	Bright Horizons Family Solutions, Inc.		515,881		0.2
	876		Brunswick Corp.		56,485		0.0
	6,946	⁽¹⁾	Burlington Stores, Inc.		1,045,581		0.3
	444		Cable One, Inc.		325,581		0.1
	11,193	^(1),(2)	Carmax, Inc.		815,634		0.3
	4,815		Carter's, Inc.		521,898		0.2
	34,337		CBS Corp. - Class B		1,930,426		0.6
	2,538	⁽¹⁾	Chipotle Mexican Grill, Inc.		1,094,817		0.4
	3,609		Choice Hotels International, Inc.		272,840		0.1
	395		Columbia Sportswear Co.		36,131		0.0
	6,506		Darden Restaurants, Inc.		696,532		0.2
	23,930		Delphi Technologies PLC		2,192,706		0.7
	28,025		Dollar General Corp.		2,763,265		0.9
	4,157	⁽¹⁾	Dollar Tree, Inc.		353,345		0.1
	4,389		Domino's Pizza, Inc.		1,238,444		0.4
	21,079		D.R. Horton, Inc.		864,239		0.3
	8,623	⁽²⁾	Dunkin' Brands Group, Inc.		595,591		0.2
	12,555		Expedia, Inc.		1,508,985		0.5
	11,820		Extended Stay America, Inc.		255,430		0.1
	3,981	⁽¹⁾	Floor & Decor Holdings, Inc.		196,383		0.1
	1,412		Gap, Inc.		45,735		0.0
	19,395		Gentex Corp.		446,473		0.1
	4,915	⁽¹⁾	Grand Canyon Education, Inc.		548,563		0.2
	3,946		H&R Block, Inc.		89,890		0.0
	37,357	⁽²⁾	Hanesbrands, Inc.		822,601		0.3
	9,332		Hasbro, Inc.		861,437		0.3
	10,071	⁽¹⁾	Hilton Grand Vacations, Inc.		349,464		0.1
	29,089		Hilton Worldwide Holdings, Inc.		2,302,685		0.7
	575		International Game Technology PLC		13,363		0.0
	4,081		Interpublic Group of Cos., Inc.		95,659		0.0
	4,544		L Brands, Inc.		167,583		0.1
	724		Lear Corp.		134,526		0.0
	15,810		Lennar Corp. - Class A		830,025		0.3
	872		Lennar Corp. - Class B		37,226		0.0
	374		Lions Gate Entertainment Corp. - A		9,283		0.0
	730	⁽²⁾	Lions Gate Entertainment Corp. - B		17,126		0.0
	14,364	⁽¹⁾	Live Nation Entertainment, Inc.		697,660		0.2
	5,368	⁽¹⁾	LKQ Corp.		171,239		0.1
	10,217	⁽¹⁾	Lululemon Athletica, Inc.		1,275,592		0.4
	192	⁽¹⁾	Madison Square Garden Co.		59,556		0.0
	7,921	⁽²⁾	Mattel, Inc.		130,063		0.0
	4,816		MGM Resorts International		139,809		0.0
	8,012	⁽¹⁾	Michael Kors Holdings Ltd.		533,599		0.2
	1,778	⁽¹⁾	Michaels Cos, Inc.		34,084		0.0
	12,257		Nordstrom, Inc.		634,667		0.2
	330	⁽¹⁾	NVR, Inc.		980,216		0.3
	15,524		Omnicom Group		1,184,015		0.4
	8,373	⁽¹⁾	O'Reilly Automotive, Inc.		2,290,602		0.7
	6,194		Polaris Industries, Inc.		756,783		0.2
	4,096		Pool Corp.		620,544		0.2
	8,590		Pulte Group, Inc.		246,963		0.1
	38,608		Ross Stores, Inc.		3,272,028		1.1
	8,653		Service Corp. International		309,691		0.1
	14,134	⁽¹⁾	ServiceMaster Global Holdings, Inc.		840,549		0.3
	133,991	⁽²⁾	Sirius XM Holdings, Inc.		907,119		0.3
	7,435	⁽²⁾	Six Flags Entertainment Corp.		520,822		0.2
	6,527	⁽¹⁾	Skechers USA, Inc.		195,875		0.1
	5,914		Tapestry, Inc.		276,243		0.1
	4,825	^(1),(2)	Tempur Sealy International, Inc.		231,841		0.1
	4,317		Thor Industries, Inc.		420,433		0.1
	2,255		Tiffany & Co.		296,758		0.1
	7,451		Toll Brothers, Inc.		275,613		0.1
	12,708		Tractor Supply Co.		972,035		0.3
	10,843	^(1),(2)	TripAdvisor, Inc.		604,064		0.2
	5,965	⁽¹⁾	Ulta Beauty, Inc.		1,392,589		0.5
	14,681	^(1),(2)	Under Armour, Inc. - Class A		330,029		0.1
	15,007	^(1),(2)	Under Armour, Inc. - Class C		316,348		0.1
	7,688	⁽¹⁾	Urban Outfitters, Inc.		342,500		0.1
	4,176		Vail Resorts, Inc.		1,145,017		0.4
	25,962		VF Corp.		2,116,422		0.7
	1,943	⁽¹⁾	Visteon Corp.		251,113		0.1
	5,836	^(1),(2)	Wayfair, Inc.		693,083		0.2
	19,584		Wendy's Company		336,453		0.1
	1,963	⁽²⁾	Williams-Sonoma, Inc.		120,489		0.0
	10,194		Wyndham Hotels & Resorts, Inc.		599,713		0.2
	10,194		Wyndham Worldwide Corp.		451,288		0.1
	10,713		Wynn Resorts Ltd.		1,792,713		0.6
	3,240		Yum China Holdings, Inc.		124,610		0.0
					55,651,973		18.0

			Consumer Staples: 3.4%
	5,346		Brown-Forman Corp. - Class A		261,206		0.1
	29,440		Brown-Forman Corp. - Class B		1,442,854		0.5
	12,738	⁽²⁾	Campbell Soup Co.		516,399		0.2
	21,593		Church & Dwight Co., Inc.		1,147,884		0.4
	11,766		Clorox Co.		1,591,351		0.5
	18,673		Dr Pepper Snapple Group, Inc.		2,278,106		0.7
	3,531		Energizer Holdings, Inc.		222,312		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Staples: (continued)
	2,152	⁽¹⁾	Herbalife Nutrition Ltd		115,605		0.0
	13,306		Hershey Co.		1,238,256		0.4
	12,936		Kellogg Co.		903,838		0.3
	734		McCormick & Co., Inc.		85,210		0.0
	1,763		Nu Skin Enterprises, Inc.		137,849		0.0
	3,940	⁽¹⁾	Post Holdings, Inc.		338,919		0.1
	13,523	⁽¹⁾	Sprouts Farmers Market, Inc.		298,453		0.1
	1,323	⁽¹⁾	US Foods Holding Corp.		50,036		0.0
					10,628,278		3.4

			Energy: 1.8%
	13,396	⁽¹⁾	Antero Resources Corp.		286,005		0.1
	2,508		Apache Corp.		117,249		0.0
	34,174		Cabot Oil & Gas Corp.		813,341		0.3
	15,135	⁽¹⁾	Cheniere Energy, Inc.		986,651		0.3
	1,224		Cimarex Energy Co.		124,530		0.1
	4,387	⁽¹⁾	Continental Resources, Inc.		284,102		0.1
	2,673		Diamondback Energy, Inc.		351,687		0.1
	4,771	⁽¹⁾	Kosmos Energy LLC		39,456		0.0
	7,550	⁽¹⁾	Newfield Exploration Co.		228,387		0.1
	17,682		Oneok, Inc.		1,234,734		0.4
	18,687	⁽¹⁾	Parsley Energy, Inc.		565,842		0.2
	2,180		RPC, Inc.		31,763		0.0
	8,264	⁽¹⁾	RSP Permian, Inc.		363,781		0.1
					5,427,528		1.8

			Financials: 7.3%
	176		Alleghany Corp.		101,195		0.0
	2,439		Ameriprise Financial, Inc.		341,167		0.1
	6,413	⁽¹⁾	Arch Capital Group Ltd.		169,688		0.1
	923		Axis Capital Holdings Ltd.		51,337		0.0
	1,363		Brown & Brown, Inc.		37,796		0.0
	10,795		Cboe Global Markets, Inc.		1,123,436		0.4
	1,035		Comerica, Inc.		94,102		0.0
	1,077	^(1),(2)	Credit Acceptance Corp.		380,612		0.1
	16,624		Discover Financial Services		1,170,496		0.4
	6,222	⁽¹⁾	E*Trade Financial Corp.		380,537		0.1
	1,127		East West Bancorp, Inc.		73,480		0.0
	12,045		Eaton Vance Corp.		628,628		0.2
	1,957		Erie Indemnity Co.		229,478		0.1
	4,182		Evercore, Inc.		440,992		0.1
	1,665		Everest Re Group Ltd.		383,749		0.1
	3,946		Factset Research Systems, Inc.		781,703		0.3
	6,660		Interactive Brokers Group, Inc.		428,971		0.1
	11,050		Lazard Ltd.		540,455		0.2
	9,201		LPL Financial Holdings, Inc.		603,033		0.2
	125	⁽¹⁾	Markel Corp.		135,544		0.0
	3,816		MarketAxess Holdings, Inc.		755,034		0.3
	17,369		Moody's Corp.		2,962,457		1.0
	1,891		Morningstar, Inc.		242,521		0.1
	9,174		MSCI, Inc. - Class A		1,517,655		0.5
	6,073		Northern Trust Corp.		624,851		0.2
	565	⁽¹⁾	OneMain Holdings, Inc.		18,809		0.0
	3,372		Pinnacle Financial Partners, Inc.		206,872		0.1
	4,033		Raymond James Financial, Inc.		360,349		0.1
	360		RenaissanceRe Holdings Ltd.		43,315		0.0
	1,552		Santander Consumer USA Holdings, Inc.		29,628		0.0
	13,892		SEI Investments Co.		868,528		0.3
	3,533	⁽¹⁾	Signature Bank		451,800		0.2
	4,235	⁽¹⁾	SVB Financial Group		1,222,899		0.4
	27,415		Synchrony Financial		915,113		0.3
	952		Synovus Financial Corp.		50,294		0.0
	22,882		T. Rowe Price Group, Inc.		2,656,371		0.9
	3,280	⁽¹⁾	Texas Capital Bancshares, Inc.		300,120		0.1
	1,125		Validus Holdings Ltd.		76,050		0.0
	4,067		Virtu Financial, Inc.		107,979		0.0
	1,247	⁽³⁾	Voya Financial, Inc.		58,609		0.0
	6,169	⁽¹⁾	Western Alliance Bancorp.		349,227		0.1
	9,393		XL Group Ltd.		525,538		0.2
					22,440,418		7.3

			Health Care: 14.3%
	4,396	⁽¹⁾	Abiomed, Inc.		1,798,184		0.6
	4,924	⁽¹⁾	Agios Pharmaceuticals, Inc.		414,748		0.1
	8,258	⁽¹⁾	Align Technology, Inc.		2,825,392		0.9
	16,018	⁽¹⁾	Alkermes PLC		659,301		0.2
	8,230	⁽¹⁾	Alnylam Pharmaceuticals, Inc.		810,573		0.3
	16,676		AmerisourceBergen Corp.		1,421,963		0.5
	4,163	⁽¹⁾	Athenahealth, Inc.		662,500		0.2
	18,387	⁽¹⁾	BioMarin Pharmaceutical, Inc.		1,732,055		0.6
	3,870		Bio-Techne Corp.		572,566		0.2
	3,589	⁽¹⁾	Bluebird Bio, Inc.		563,294		0.2
	4,224		Bruker Corp.		122,665		0.0
	3,833		Cantel Medical Corp.		377,014		0.1
	3,224	⁽¹⁾	Catalent, Inc.		135,053		0.0
	18,691	⁽¹⁾	Centene Corp.		2,302,918		0.7
	14,763	⁽¹⁾	Cerner Corp.		882,680		0.3
	3,530	⁽¹⁾	Charles River Laboratories International, Inc.		396,278		0.1
	1,615		Chemed Corp.		519,723		0.2
	801		Cooper Cos., Inc.		188,595		0.1
	7,341	⁽¹⁾	DaVita, Inc.		509,759		0.2
	9,094	⁽¹⁾	DexCom, Inc.		863,748		0.3
	21,882	⁽¹⁾	Edwards Lifesciences Corp.		3,185,363		1.0
	10,196		Encompass Health Corp.		690,473		0.2
	2,448	⁽¹⁾	Envision Healthcare Corp.		107,736		0.0
	12,464	^(1),(2)	Exact Sciences Corp.		745,223		0.2
	30,542	⁽¹⁾	Exelixis, Inc.		657,264		0.2
	2,348	⁽¹⁾	Henry Schein, Inc.		170,559		0.1
	4,469		Hill-Rom Holdings, Inc.		390,322		0.1
	1,623	⁽¹⁾	ICU Medical, Inc.		476,594		0.2
	8,945	⁽¹⁾	Idexx Laboratories, Inc.		1,949,473		0.6
	18,276	⁽¹⁾	Incyte Corp., Ltd.		1,224,492		0.4
	6,081	⁽¹⁾	Insulet Corp.		521,142		0.2
	5,838	⁽¹⁾	Integra LifeSciences Holdings Corp.		376,026		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	12,999	^(1),(2)	Ionis Pharmaceuticals, Inc.		541,668		0.2
	5,626	⁽¹⁾	Jazz Pharmaceuticals PLC		969,360		0.3
	627	⁽¹⁾	Laboratory Corp. of America Holdings		112,565		0.0
	4,694	⁽¹⁾	Masimo Corp.		458,369		0.1
	2,592	⁽¹⁾	Mettler Toledo International, Inc.		1,499,809		0.5
	5,409	⁽¹⁾	Molina Healthcare, Inc.		529,757		0.2
	16,266	⁽¹⁾	Nektar Therapeutics		794,269		0.3
	9,278	⁽¹⁾	Neurocrine Biosciences, Inc.		911,471		0.3
	3,189	⁽¹⁾	Penumbra, Inc.		440,560		0.1
	5,258	⁽¹⁾	PRA Health Sciences, Inc.		490,887		0.2
	1,776	⁽¹⁾	Premier, Inc.		64,611		0.0
	14,646		Resmed, Inc.		1,517,033		0.5
	4,729	⁽¹⁾	Sage Therapeutics, Inc.		740,230		0.2
	6,444	^(1),(2)	Sarepta Therapeutics, Inc.		851,768		0.3
	11,156	⁽¹⁾	Seattle Genetics, Inc.		740,647		0.2
	906		Teleflex, Inc.		242,998		0.1
	4,014	^(1),(2)	Tesaro, Inc.		178,503		0.1
	9,528	⁽¹⁾	Varian Medical Systems, Inc.		1,083,524		0.4
	12,502	⁽¹⁾	Veeva Systems, Inc.		960,904		0.3
	7,520	⁽¹⁾	Waters Corp.		1,455,797		0.5
	4,333	⁽¹⁾	WellCare Health Plans, Inc.		1,066,958		0.3
	1,759		West Pharmaceutical Services, Inc.		174,651		0.1
					44,080,015		14.3

			Industrials: 16.0%
	758		Air Lease Corp.		31,813		0.0
	8,186		Allegion Public Ltd.		633,269		0.2
	12,572		Allison Transmission Holdings, Inc.		509,040		0.2
	4,567		Ametek, Inc.		329,555		0.1
	14,800		AO Smith Corp.		875,420		0.3
	4,689	⁽¹⁾	Armstrong World Industries, Inc.		296,345		0.1
	10,361		BWX Technologies, Inc.		645,697		0.2
	14,403		CH Robinson Worldwide, Inc.		1,204,955		0.4
	9,096		Cintas Corp.		1,683,397		0.5
	21,111	⁽¹⁾	Copart, Inc.		1,194,038		0.4
	3,725	⁽¹⁾	CoStar Group, Inc.		1,537,047		0.5
	5,745		Cummins, Inc.		764,085		0.2
	357		Curtiss-Wright Corp.		42,490		0.0
	12,622		Donaldson Co., Inc.		569,505		0.2
	1,686		Dun & Bradstreet Corp.		206,788		0.1
	3,375		Equifax, Inc.		422,246		0.1
	18,137		Expeditors International Washington, Inc.		1,325,815		0.4
	29,938		Fastenal Co.		1,440,916		0.5
	29,423		Fortive Corp.		2,268,808		0.7
	6,285		Fortune Brands Home & Security, Inc.		337,442		0.1
	3,642	⁽¹⁾	Gardner Denver Holdings, Inc.		107,038		0.0
	1,307	⁽¹⁾	Genesee & Wyoming, Inc.		106,285		0.0
	17,226		Graco, Inc.		778,960		0.3
	12,353		Harris Corp.		1,785,503		0.6
	5,775	⁽¹⁾	HD Supply Holdings, Inc.		247,690		0.1
	4,005	⁽²⁾	Heico Corp.		292,085		0.1
	7,890		Heico Corp. - Class A		480,895		0.2
	1,963		Hexcel Corp.		130,304		0.0
	3,851		Hubbell, Inc.		407,205		0.1
	3,892		Huntington Ingalls Industries, Inc.		843,747		0.3
	7,504		IDEX Corp.		1,024,146		0.3
	13,959		Ingersoll-Rand PLC - Class A		1,252,541		0.4
	9,072		JB Hunt Transport Services, Inc.		1,102,702		0.4
	13,116		KAR Auction Services, Inc.		718,757		0.2
	4,360		Landstar System, Inc.		476,112		0.2
	3,582		Lennox International, Inc.		716,937		0.2
	6,555		Lincoln Electric Holdings, Inc.		575,267		0.2
	22,020		Masco Corp.		823,988		0.3
	3,348	^(1),(2)	Middleby Corp.		349,598		0.1
	2,101		MSC Industrial Direct Co.		178,270		0.1
	5,631		Nordson Corp.		723,077		0.2
	6,860		Old Dominion Freight Line		1,021,866		0.3
	2,487		Parker Hannifin Corp.		387,599		0.1
	4,514	⁽¹⁾	Quanta Services, Inc.		150,768		0.1
	1,489		Republic Services, Inc.		101,788		0.0
	12,525		Robert Half International, Inc.		815,377		0.3
	13,041		Rockwell Automation, Inc.		2,167,805		0.7
	2,289		Rockwell Collins, Inc.		308,282		0.1
	10,064		Rollins, Inc.		529,165		0.2
	1,963		Roper Technologies, Inc.		541,611		0.2
	810		Schneider National, Inc.		22,283		0.0
	9,607	⁽¹⁾	Sensata Technologies Holding PLC		457,101		0.2
	11,786		Spirit Aerosystems Holdings, Inc.		1,012,535		0.3
	4,459		Textron, Inc.		293,893		0.1
	10,939		Toro Co.		659,075		0.2
	5,050		TransDigm Group, Inc.		1,742,957		0.6
	19,163		TransUnion		1,372,837		0.4
	8,696	⁽¹⁾	United Rentals, Inc.		1,283,703		0.4
	1,800	⁽¹⁾	Univar, Inc.		47,232		0.0
	16,712	⁽¹⁾	Verisk Analytics, Inc.		1,798,880		0.6
	5,574	⁽¹⁾	WABCO Holdings, Inc.		652,269		0.2
	3,221	⁽²⁾	Wabtec Corp.		317,526		0.1
	2,666		Watsco, Inc.		475,294		0.2
	13,542	⁽¹⁾	Welbilt, Inc.		302,122		0.1
	4,734		WW Grainger, Inc.		1,459,966		0.5
	12,396	⁽¹⁾	XPO Logistics, Inc.		1,241,831		0.4
	10,436		Xylem, Inc.		703,178		0.2
					49,306,721		16.0

			Information Technology: 31.9%
	5,618	⁽¹⁾	2U, Inc.		469,440		0.1
	94,646	⁽¹⁾	Advanced Micro Devices, Inc.		1,418,744		0.5
	16,192	⁽¹⁾	Akamai Technologies, Inc.		1,185,740		0.4
	5,023		Alliance Data Systems Corp.		1,171,364		0.4

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	30,751		Amphenol Corp.		2,679,950		0.9
	6,081		Analog Devices, Inc.		583,289		0.2
	8,679	⁽¹⁾	ANSYS, Inc.		1,511,708		0.5
	5,925	⁽¹⁾	Arista Networks, Inc.		1,525,628		0.5
	7,038	⁽¹⁾	Aspen Technology, Inc.		652,704		0.2
	9,569	⁽¹⁾	Atlassian Corp. PLC		598,254		0.2
	19,199	⁽¹⁾	Autodesk, Inc.		2,516,797		0.8
	14,787	⁽¹⁾	Black Knight, Inc.		791,844		0.3
	14,005		Booz Allen Hamilton Holding Corp.		612,439		0.2
	12,225		Broadridge Financial Solutions, Inc. ADR		1,407,097		0.5
	29,088	⁽¹⁾	Cadence Design Systems, Inc.		1,259,801		0.4
	7,079	⁽¹⁾	Cavium, Inc.		612,333		0.2
	13,713		CDK Global, Inc.		892,031		0.3
	15,433		CDW Corp.		1,246,832		0.4
	2,458	⁽¹⁾	Ceridian HCM Holding, Inc.		81,581		0.0
	14,094	⁽¹⁾	Citrix Systems, Inc.		1,477,615		0.5
	17,220		Cognex Corp.		768,184		0.2
	1,847	⁽¹⁾	Coherent, Inc.		288,908		0.1
	5,306	⁽¹⁾	CoreLogic, Inc.		275,381		0.1
	25,744		Cypress Semiconductor Corp.		401,092		0.1
	1,498	⁽¹⁾	Dell Technologies, Inc. Class V		126,701		0.0
	2,607	⁽¹⁾	DocuSign, Inc.		138,041		0.0
	5,282	⁽¹⁾	EPAM Systems, Inc.		656,711		0.2
	2,579	⁽¹⁾	Euronet Worldwide, Inc.		216,043		0.1
	6,366	⁽¹⁾	F5 Networks, Inc.		1,097,817		0.4
	3,058	⁽¹⁾	Fair Isaac Corp.		591,173		0.2
	2,921		Fidelity National Information Services, Inc.		309,714		0.1
	13,023	⁽¹⁾	FireEye, Inc.		200,424		0.1
	49,971	⁽¹⁾	First Data Corp.		1,045,893		0.3
	42,681	⁽¹⁾	Fiserv, Inc.		3,162,235		1.0
	9,273	⁽¹⁾	FleetCor Technologies, Inc.		1,953,357		0.6
	1,260		Flir Systems, Inc.		65,482		0.0
	14,485	⁽¹⁾	Fortinet, Inc.		904,299		0.3
	9,224	⁽¹⁾	Gartner, Inc.		1,225,870		0.4
	5,422		Genpact Ltd.		156,858		0.0
	16,551		Global Payments, Inc.		1,845,271		0.6
	15,593	⁽¹⁾	GoDaddy, Inc.		1,100,866		0.4
	9,399	^(1),(2)	GrubHub, Inc.		986,049		0.3
	8,327	⁽¹⁾	Guidewire Software, Inc.		739,271		0.2
	7,759	⁽¹⁾	IAC/InterActiveCorp		1,183,170		0.4
	3,754	⁽¹⁾	IPG Photonics Corp.		828,245		0.3
	8,016		Jack Henry & Associates, Inc.		1,044,966		0.3
	16,252		KLA-Tencor Corp.		1,666,318		0.5
	17,089		Lam Research Corp.		2,953,834		1.0
	2,085		Littelfuse, Inc.		475,755		0.2
	3,538		LogMeIn, Inc.		365,298		0.1
	6,910	⁽¹⁾	Manhattan Associates, Inc.		324,839		0.1
	5,378	^(1),(2)	Match Group, Inc.		208,344		0.1
	28,995		Maxim Integrated Products		1,700,847		0.5
	23,968		Microchip Technology, Inc.		2,179,890		0.7
	5,632		MKS Instruments, Inc.		538,982		0.2
	4,236		Monolithic Power Systems, Inc.		566,226		0.2
	1,908		Motorola Solutions, Inc.		222,034		0.1
	9,338		National Instruments Corp.		392,009		0.1
	10,098	⁽¹⁾	NCR Corp.		302,738		0.1
	27,969		NetApp, Inc.		2,196,406		0.7
	11,083	⁽¹⁾	Nutanix, Inc.		571,550		0.2
	8,924	⁽¹⁾	Okta, Inc.		449,502		0.1
	44,106	⁽¹⁾	ON Semiconductor Corp.		980,697		0.3
	9,232	⁽¹⁾	Palo Alto Networks, Inc.		1,896,899		0.6
	33,449		Paychex, Inc.		2,286,239		0.7
	5,168	^(1),(2)	Paycom Software, Inc.		510,753		0.2
	3,917		Pegasystems, Inc.		214,652		0.1
	5,236	⁽¹⁾	Proofpoint, Inc.		603,763		0.2
	11,910	⁽¹⁾	PTC, Inc.		1,117,277		0.4
	17,122	⁽¹⁾	Pure Storage, Inc.		408,873		0.1
	7,310	⁽¹⁾	RealPage, Inc.		402,781		0.1
	18,450	⁽¹⁾	Red Hat, Inc.		2,479,126		0.8
	6,922	⁽¹⁾	RingCentral, Inc.		486,963		0.2
	20,081		Sabre Corp.		494,796		0.2
	18,252	⁽¹⁾	ServiceNow, Inc.		3,147,922		1.0
	13,405		Skyworks Solutions, Inc.		1,295,593		0.4
	15,091	⁽¹⁾	Splunk, Inc.		1,495,669		0.5
	29,804	⁽¹⁾	Square, Inc.		1,837,119		0.6
	19,996		SS&C Technologies Holdings, Inc.		1,037,792		0.3
	3,720		Switch, Inc.		45,272		0.0
	1,449	⁽¹⁾	Synopsys, Inc.		123,991		0.0
	7,054	⁽¹⁾	Tableau Software, Inc.		689,528		0.2
	6,975	⁽¹⁾	Take-Two Interactive Software, Inc.		825,561		0.3
	8,922	⁽¹⁾	Teradata Corp.		358,218		0.1
	3,186		Teradyne, Inc.		121,291		0.0
	18,751		Total System Services, Inc.		1,584,835		0.5
	7,455	^(1),(2)	Twilio, Inc.		417,629		0.1
	73,742	⁽¹⁾	Twitter, Inc.		3,220,313		1.0
	3,921	⁽¹⁾	Tyler Technologies, Inc.		870,854		0.3
	2,003	^(1),(2)	Ubiquiti Networks, Inc.		169,694		0.1
	3,105	⁽¹⁾	Ultimate Software Group, Inc.		798,948		0.3
	4,428	⁽²⁾	Universal Display Corp.		380,808		0.1
	10,967	⁽¹⁾	VeriSign, Inc.		1,507,085		0.5
	11,317		Versum Materials, Inc.		420,427		0.1
	13,247		Western Union Co.		269,311		0.1
	4,295	⁽¹⁾	WEX, Inc.		818,112		0.3
	15,128	⁽¹⁾	Workday, Inc.		1,832,303		0.6
	2,708	⁽¹⁾	Worldpay, Inc.		221,460		0.1
	26,539		Xilinx, Inc.		1,731,935		0.6
	5,495	⁽¹⁾	Zebra Technologies Corp.		787,159		0.3
	10,697	⁽¹⁾	Zendesk, Inc.		582,880		0.2
	4,193	⁽¹⁾	Zillow Group, Inc. - Class A		250,532		0.1
	8,603	⁽¹⁾	Zillow Group, Inc. - Class C		508,093		0.2
					98,354,937		31.9

			Materials: 3.9%
	9,135		Avery Dennison Corp.		932,683		0.3
	8,953	⁽¹⁾	Axalta Coating Systems Ltd.		271,365		0.1
	6,870	⁽¹⁾	Berry Plastics Group, Inc.		315,608		0.1
	8,963		Celanese Corp.		995,431		0.3
	18,541		Chemours Co.		822,479		0.3
	13,461	⁽¹⁾	Crown Holdings, Inc.		602,514		0.2
	4,320		Eagle Materials, Inc.		453,470		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Materials: (continued)
	5,684		FMC Corp.		507,070		0.2
	5,475		Graphic Packaging Holding Co.		79,442		0.0
	3,479		International Flavors & Fragrances, Inc.		431,257		0.1
	4,876		International Paper Co.		253,942		0.1
	6,002		Martin Marietta Materials, Inc.		1,340,427		0.4
	779		NewMarket Corp.		315,106		0.1
	9,735		Packaging Corp. of America		1,088,276		0.4
	11,555	⁽¹⁾	Platform Specialty Products Corp.		134,038		0.0
	2,795		Royal Gold, Inc.		259,488		0.1
	2,776		RPM International, Inc.		161,896		0.1
	2,059	⁽²⁾	Scotts Miracle-Gro Co.		171,226		0.1
	9,201		Sealed Air Corp.		390,582		0.1
	2,714		Silgan Holdings, Inc.		72,817		0.0
	3,605		Steel Dynamics, Inc.		165,650		0.1
	12,873		Vulcan Materials Co.		1,661,389		0.5
	3,497		Westlake Chemical Corp.		376,382		0.1
	5,144		WR Grace & Co.		377,107		0.1
					12,179,645		3.9

			Real Estate: 2.2%
	838		Alexandria Real Estate Equities, Inc.		105,730		0.0
	15,922	⁽¹⁾	CBRE Group, Inc.		760,116		0.3
	2,738		Colony Capital, Inc.		17,085		0.0
	3,554		Coresite Realty Corp.		393,854		0.1
	8,815		Equity Lifestyle Properties, Inc.		810,099		0.3
	11,018		Extra Space Storage, Inc.		1,099,707		0.4
	7,557		Gaming and Leisure Properties, Inc.		270,541		0.1
	1,637	⁽¹⁾	Howard Hughes Corp.		216,903		0.1
	1,974		Hudson Pacific Properties, Inc.		69,939		0.0
	7,869		Lamar Advertising Co.		537,531		0.2
	267		Life Storage, Inc.		25,982		0.0
	1,693		Omega Healthcare Investors, Inc.		52,483		0.0
	11,867	⁽¹⁾	SBA Communications Corp.		1,959,479		0.6
	6,169		Taubman Centers, Inc.		362,490		0.1
					6,681,939		2.2

			Telecommunication Services: 0.2%
	20,705	⁽¹⁾	Zayo Group Holdings, Inc.		755,318		0.2

		Total Common Stock (Cost $180,662,492)			305,506,772		99.0

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 4.7%
		Securities Lending Collateral⁽⁴⁾: 3.7%
	5,098,442	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $5,099,314, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $5,200,411, due 07/25/18-06/15/53)		5,098,442		1.6
	808,123	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $808,256, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $824,285, due 07/05/18-09/09/49)		808,123		0.3
	2,672,299	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $2,672,800, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $2,725,745, due 11/15/42-08/15/44)		2,672,299		0.9
	2,672,299	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $2,672,804, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $2,725,765, due 07/15/19-02/15/48)		2,672,299		0.9
				11,251,163		3.7

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Growth Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.0%
	3,142,000	⁽⁵⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $3,142,000)		3,142,000			1.0

		Total Short-Term Investments (Cost $14,393,163)			14,393,163			4.7

		Total Investments in Securities (Cost $195,055,655)		$	319,899,935			103.7
		Liabilities in Excess of Other Assets			(11,304,482	)		(3.7	)
		Net Assets		$	308,595,453			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
ADR	American Depositary Receipt
(1)	Non-income producing security.
(2)	Security, or a portion of the security, is on loan.
(3)	Investment in affiliate
(4)	Represents securities purchased with cash collateral received for securities on loan.
(5)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.8%
			Consumer Discretionary: 14.2%
	19,702		Adient plc		969,141		0.1
	14,943		Advance Auto Parts, Inc.		2,027,765		0.1
	9,328	⁽¹⁾	AMC Networks, Inc.		580,202		0.0
	51,470		Aramark		1,909,537		0.1
	11,679	⁽¹⁾	Autonation, Inc.		567,366		0.0
	5,649	⁽¹⁾	Autozone, Inc.		3,790,084		0.2
	50,964		Best Buy Co., Inc.		3,800,895		0.2
	44,055		BorgWarner, Inc.		1,901,414		0.1
	12,043	⁽¹⁾	Bright Horizons Family Solutions, Inc.		1,234,648		0.1
	18,260		Brunswick Corp.		1,177,405		0.1
	14,046	⁽¹⁾	Burlington Stores, Inc.		2,114,344		0.1
	898		Cable One, Inc.		658,494		0.0
	125,092	⁽¹⁾	Caesars Entertainment Corp.		1,338,484		0.1
	37,414	⁽¹⁾	Carmax, Inc.		2,726,358		0.2
	9,738		Carter's, Inc.		1,055,502		0.1
	69,441		CBS Corp. - Class B		3,903,973		0.3
	5,133	⁽¹⁾	Chipotle Mexican Grill, Inc.		2,214,222		0.1
	7,298		Choice Hotels International, Inc.		551,729		0.0
	22,547		Cinemark Holdings, Inc.		790,949		0.1
	6,444		Columbia Sportswear Co.		589,433		0.0
	26,107		Darden Restaurants, Inc.		2,795,015		0.2
	55,753		Delphi Technologies PLC		5,108,647		0.3
	16,305		Dick's Sporting Goods, Inc.		574,751		0.0
	32,399	^(1),(2)	Discovery Communications, Inc. - Class A		890,972		0.1
	72,697	⁽¹⁾	Discovery Communications, Inc. - Class C		1,853,774		0.1
	46,767	⁽¹⁾	Dish Network Corp. - Class A		1,571,839		0.1
	56,677		Dollar General Corp.		5,588,352		0.4
	49,459	⁽¹⁾	Dollar Tree, Inc.		4,204,015		0.3
	8,877		Domino's Pizza, Inc.		2,504,823		0.2
	72,622		D.R. Horton, Inc.		2,977,502		0.2
	17,438	⁽²⁾	Dunkin' Brands Group, Inc.		1,204,443		0.1
	25,391		Expedia, Inc.		3,051,744		0.2
	39,840		Extended Stay America, Inc.		860,942		0.1
	8,051	⁽¹⁾	Floor & Decor Holdings, Inc.		397,156		0.0
	24,736		Foot Locker, Inc.		1,302,350		0.1
	46,047		Gap, Inc.		1,491,462		0.1
	23,985		Garmin Ltd.		1,463,085		0.1
	21,227	⁽¹⁾	GCI Liberty, Inc.		956,913		0.1
	57,766		Gentex Corp.		1,329,773		0.1
	30,128		Genuine Parts Co.		2,765,449		0.2
	50,628		Goodyear Tire & Rubber Co.		1,179,126		0.1
	883		Graham Holdings Co.		517,526		0.0
	9,939	⁽¹⁾	Grand Canyon Education, Inc.		1,109,292		0.1
	44,086		H&R Block, Inc.		1,004,279		0.1
	75,548	⁽²⁾	Hanesbrands, Inc.		1,663,567		0.1
	35,084		Harley-Davidson, Inc.		1,476,335		0.1
	24,071		Hasbro, Inc.		2,221,994		0.1
	20,367	⁽¹⁾	Hilton Grand Vacations, Inc.		706,735		0.0
	58,828		Hilton Worldwide Holdings, Inc.		4,656,824		0.3
	9,566		Hyatt Hotels Corp.		738,017		0.0
	20,750	⁽²⁾	International Game Technology PLC		482,230		0.0
	80,910		Interpublic Group of Cos., Inc.		1,896,530		0.1
	9,331		John Wiley & Sons, Inc.		582,254		0.0
	35,210		Kohl's Corp.		2,566,809		0.2
	48,879		L Brands, Inc.		1,802,658		0.1
	13,949		Lear Corp.		2,591,864		0.2
	27,592		Leggett & Platt, Inc.		1,231,707		0.1
	59,650		Lennar Corp. - Class A		3,131,625		0.2
	3,290		Lennar Corp. - Class B		140,450		0.0
	17,747	⁽¹⁾	Liberty Media Corp. - SiriusXM A		799,502		0.1
	35,825	⁽¹⁾	Liberty Media Corp. - SiriusXM C		1,625,022		0.1
	5,374	⁽¹⁾	Liberty Broadband Corp. - A		406,489		0.0
	21,921	⁽¹⁾	Liberty Broadband Corp. - C		1,659,858		0.1
	5,228	⁽¹⁾	Liberty Media Group-A		184,601		0.0
	41,561	⁽¹⁾	Liberty Media Group-C		1,543,160		0.1
	10,364	⁽²⁾	Lions Gate Entertainment Corp. - A		257,234		0.0
	20,235	⁽²⁾	Lions Gate Entertainment Corp. - B		474,713		0.0
	29,050	⁽¹⁾	Live Nation Entertainment, Inc.		1,410,959		0.1
	65,011	⁽¹⁾	LKQ Corp.		2,073,851		0.1
	20,663	⁽¹⁾	Lululemon Athletica, Inc.		2,579,776		0.2
	64,453		Macy's, Inc.		2,412,476		0.2
	3,880	⁽¹⁾	Madison Square Garden Co.		1,203,537		0.1
	72,487	⁽²⁾	Mattel, Inc.		1,190,237		0.1
	109,435		MGM Resorts International		3,176,898		0.2
	30,115	⁽¹⁾	Michael Kors Holdings Ltd.		2,005,659		0.1
	22,908	⁽¹⁾	Michaels Cos, Inc.		439,146		0.0
	13,110	⁽¹⁾	Mohawk Industries, Inc.		2,809,080		0.2
	95,050		Newell Brands, Inc.		2,451,340		0.2
	80,462		News Corp - Class A		1,247,161		0.1
	25,541		News Corp - Class B		404,825		0.0
	24,788		Nordstrom, Inc.		1,283,523		0.1
	43,218	⁽¹⁾	Norwegian Cruise Line Holdings Ltd.		2,042,051		0.1
	667	⁽¹⁾	NVR, Inc.		1,981,223		0.1
	47,496		Omnicom Group		3,622,520		0.2
	16,932	⁽¹⁾	O'Reilly Automotive, Inc.		4,632,087		0.3
	7,463		Penske Auto Group, Inc.		349,642		0.0
	12,527		Polaris Industries, Inc.		1,530,549		0.1
	8,284		Pool Corp.		1,255,026		0.1
	54,626		Pulte Group, Inc.		1,570,498		0.1
	16,131		PVH Corp.		2,415,133		0.2
	91,612	⁽¹⁾	Qurate Retail, Inc.		1,944,007		0.1
	11,572		Ralph Lauren Corp.		1,454,832		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Discretionary: (continued)
	78,078		Ross Stores, Inc.		6,617,111		0.4
	35,550		Royal Caribbean Cruises Ltd.		3,682,980		0.2
	37,232		Service Corp. International		1,332,533		0.1
	28,584	⁽¹⁾	ServiceMaster Global Holdings, Inc.		1,699,890		0.1
	270,974	⁽²⁾	Sirius XM Holdings, Inc.		1,834,494		0.1
	15,035	⁽²⁾	Six Flags Entertainment Corp.		1,053,202		0.1
	27,964	⁽¹⁾	Skechers USA, Inc.		839,200		0.1
	60,710		Tapestry, Inc.		2,835,764		0.2
	9,758	^(1),(2)	Tempur Sealy International, Inc.		468,872		0.0
	10,569		Thor Industries, Inc.		1,029,315		0.1
	26,064		Tiffany & Co.		3,430,022		0.2
	29,661		Toll Brothers, Inc.		1,097,160		0.1
	25,699		Tractor Supply Co.		1,965,717		0.1
	18,441		Tribune Media Co.		705,737		0.0
	21,929	^(1),(2)	TripAdvisor, Inc.		1,221,665		0.1
	12,063	⁽¹⁾	Ulta Beauty, Inc.		2,816,228		0.2
	39,116	^(1),(2)	Under Armour, Inc. - Class A		879,328		0.1
	39,984	^(1),(2)	Under Armour, Inc. - Class C		842,863		0.1
	15,548	⁽¹⁾	Urban Outfitters, Inc.		692,663		0.0
	8,446		Vail Resorts, Inc.		2,315,809		0.1
	68,186		VF Corp.		5,558,523		0.4
	2,110		Viacom, Inc.		74,800		0.0
	74,426		Viacom, Inc. - Class B		2,244,688		0.1
	6,217	⁽¹⁾	Visteon Corp.		803,485		0.1
	11,802	^(1),(2)	Wayfair, Inc.		1,401,606		0.1
	39,605		Wendy's Company		680,414		0.0
	14,602		Whirlpool Corp.		2,135,250		0.1
	17,486	⁽²⁾	Williams-Sonoma, Inc.		1,073,291		0.1
	20,615		Wyndham Hotels & Resorts, Inc.		1,212,780		0.1
	20,615		Wyndham Worldwide Corp.		912,626		0.1
	21,666		Wynn Resorts Ltd.		3,625,588		0.2
	77,998		Yum China Holdings, Inc.		2,999,803		0.2
					221,014,796		14.2

			Consumer Staples: 4.5%
	117,701		Archer-Daniels-Midland Co.		5,394,237		0.4
	10,812		Brown-Forman Corp. - Class A		528,274		0.0
	59,537		Brown-Forman Corp. - Class B		2,917,908		0.2
	29,654		Bunge Ltd.		2,067,180		0.1
	37,333	⁽²⁾	Campbell Soup Co.		1,513,480		0.1
	7,848		Casey's General Stores, Inc.		824,668		0.1
	51,497		Church & Dwight Co., Inc.		2,737,581		0.2
	27,350		Clorox Co.		3,699,088		0.2
	79,447		Conagra Brands, Inc.		2,838,641		0.2
	98,110		Coty, Inc - Class A		1,383,351		0.1
	37,763		Dr Pepper Snapple Group, Inc.		4,607,086		0.3
	12,419		Energizer Holdings, Inc.		781,900		0.1
	37,760		Flowers Foods, Inc.		786,541		0.1
	20,067	⁽¹⁾	Hain Celestial Group, Inc.		597,997		0.0
	24,179	⁽¹⁾	Herbalife Nutrition Ltd		1,298,896		0.1
	29,570		Hershey Co.		2,751,784		0.2
	57,229	⁽²⁾	Hormel Foods Corp.		2,129,491		0.1
	15,154		Ingredion, Inc.		1,677,548		0.1
	23,184		JM Smucker Co.		2,491,816		0.2
	52,323		Kellogg Co.		3,655,808		0.2
	179,261		Kroger Co.		5,099,976		0.3
	30,853		Lamb Weston Holdings, Inc.		2,113,739		0.1
	25,610		McCormick & Co., Inc.		2,973,065		0.2
	36,559		Molson Coors Brewing Co.		2,487,474		0.2
	11,576		Nu Skin Enterprises, Inc.		905,127		0.1
	11,143	⁽¹⁾	Pilgrim's Pride Corp.		224,309		0.0
	24,947		Pinnacle Foods, Inc.		1,623,052		0.1
	13,785	⁽¹⁾	Post Holdings, Inc.		1,185,786		0.1
	55		Seaboard Corp.		217,951		0.0
	4,629	⁽²⁾	Spectrum Brands Holdings, Inc.		377,819		0.0
	27,348	⁽¹⁾	Sprouts Farmers Market, Inc.		603,570		0.0
	11,467	⁽¹⁾	TreeHouse Foods, Inc.		602,132		0.0
	61,286		Tyson Foods, Inc.		4,219,541		0.3
	45,365	⁽¹⁾	US Foods Holding Corp.		1,715,704		0.1
					69,032,520		4.5

			Energy: 5.3%
	29,685		Andeavor		3,894,078		0.3
	50,826	⁽¹⁾	Antero Resources Corp.		1,085,135		0.1
	80,515		Apache Corp.		3,764,076		0.2
	16,342	⁽¹⁾	Apergy Corp.		682,279		0.0
	93,902		Cabot Oil & Gas Corp.		2,234,868		0.1
	38,540	⁽¹⁾	Centennial Resource Development, Inc./DE		696,032		0.0
	44,041	⁽¹⁾	Cheniere Energy, Inc.		2,871,033		0.2
	189,356	^(1),(2)	Chesapeake Energy Corp.		992,225		0.1
	19,807		Cimarex Energy Co.		2,015,164		0.1
	45,156	⁽¹⁾	CNX Resources Corp.		802,874		0.1
	31,131	⁽¹⁾	Concho Resources, Inc./Midland TX		4,306,974		0.3
	18,407	⁽¹⁾	Continental Resources, Inc.		1,192,037		0.1
	110,103		Devon Energy Corp.		4,840,128		0.3
	20,712		Diamondback Energy, Inc.		2,725,078		0.2
	18,405	⁽¹⁾	Energen Corp.		1,340,252		0.1
	55,807		EQT Corp.		3,079,430		0.2
	23,288	^(1),(2)	Extraction Oil & Gas, Inc.		342,101		0.0
	22,354		Helmerich & Payne, Inc.		1,425,291		0.1
	55,841		Hess Corp.		3,735,205		0.2
	34,111		HollyFrontier Corp.		2,334,216		0.2
	49,997	⁽¹⁾	Kosmos Energy LLC		413,475		0.0
	179,338		Marathon Oil Corp.		3,740,991		0.2
	34,548		Murphy Oil Corp.		1,166,686		0.1
	71,844		Nabors Industries Ltd.		460,520		0.0
	80,498		National Oilwell Varco, Inc.		3,493,613		0.2
	41,944	⁽¹⁾	Newfield Exploration Co.		1,268,806		0.1
	101,120		Noble Energy, Inc.		3,567,514		0.2
	86,375		Oneok, Inc.		6,031,566		0.4
	54,533	⁽¹⁾	Parsley Energy, Inc.		1,651,259		0.1
	46,036		Patterson-UTI Energy, Inc.		828,648		0.1
	23,485		PBF Energy, Inc.		984,726		0.1
	49,750	⁽¹⁾	QEP Resources, Inc.		609,935		0.0
	44,406		Range Resources Corp.		742,912		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Energy: (continued)
	11,983	⁽²⁾	RPC, Inc.		174,592		0.0
	30,835	⁽¹⁾	RSP Permian, Inc.		1,357,357		0.1
	23,373	⁽²⁾	SM Energy Co.		600,452		0.0
	45,549		Targa Resources Corp.		2,254,220		0.1
	90,322	^(1),(2)	Transocean Ltd.		1,213,928		0.1
	209,708	^(1),(2)	Weatherford International PLC		689,939		0.0
	18,885	⁽¹⁾	Whiting Petroleum Corp.		995,617		0.1
	174,651		Williams Cos., Inc.		4,734,789		0.3
	83,596	⁽¹⁾	WPX Energy, Inc.		1,507,236		0.1
					82,847,257		5.3

			Financials: 13.8%
	11,404		Affiliated Managers Group, Inc.		1,695,433		0.1
	88,645		AGNC Investment Corp.		1,647,911		0.1
	3,099		Alleghany Corp.		1,781,832		0.1
	90,769		Ally Financial, Inc.		2,384,502		0.1
	15,125		American Financial Group, Inc.		1,623,366		0.1
	1,558		American National Insurance Co.		186,321		0.0
	30,452		Ameriprise Financial, Inc.		4,259,626		0.3
	243,922		Annaly Capital Management, Inc.		2,509,957		0.2
	81,570	⁽¹⁾	Arch Capital Group Ltd.		2,158,342		0.1
	38,006		Arthur J. Gallagher & Co.		2,481,032		0.2
	12,440		Aspen Insurance Holdings Ltd.		506,308		0.0
	35,614		Associated Banc-Corp.		972,262		0.1
	11,049		Assurant, Inc.		1,143,461		0.1
	23,253		Assured Guaranty Ltd.		830,830		0.0
	33,451	⁽¹⁾	Athene Holding Ltd.		1,466,492		0.1
	28,993	^(1),(2)	AXA Equitable Holdings, Inc.		597,546		0.0
	17,287		Axis Capital Holdings Ltd.		961,503		0.1
	8,776		Bank of Hawaii Corp.		732,094		0.0
	25,550		Bank of the Ozarks, Inc.		1,150,772		0.1
	21,896		BankUnited, Inc.		894,452		0.1
	55,147		BGC Partners, Inc.		624,264		0.0
	5,457		BOK Financial Corp.		513,013		0.0
	25,295	⁽¹⁾	Brighthouse Financial, Inc.		1,013,571		0.1
	48,362		Brown & Brown, Inc.		1,341,078		0.1
	23,551		Cboe Global Markets, Inc.		2,450,953		0.2
	39,225		Chimera Investment Corp.		717,033		0.0
	32,356		Cincinnati Financial Corp.		2,163,322		0.1
	26,771		CIT Group, Inc.		1,349,526		0.1
	102,165		Citizens Financial Group, Inc.		3,974,218		0.3
	5,948		CNA Financial Corp.		271,705		0.0
	36,108		Comerica, Inc.		3,282,939		0.2
	19,983		Commerce Bancshares, Inc.		1,293,100		0.1
	2,375	^(1),(2)	Credit Acceptance Corp.		839,325		0.0
	12,034		Cullen/Frost Bankers, Inc.		1,302,560		0.1
	73,407		Discover Financial Services		5,168,587		0.3
	55,681	⁽¹⁾	E*Trade Financial Corp.		3,405,450		0.2
	30,402		East West Bancorp, Inc.		1,982,210		0.1
	24,359		Eaton Vance Corp.		1,271,296		0.1
	5,186		Erie Indemnity Co.		608,110		0.0
	8,458		Evercore, Inc.		891,896		0.1
	8,523		Everest Re Group Ltd.		1,964,381		0.1
	7,981		Factset Research Systems, Inc.		1,581,036		0.1
	144,425		Fifth Third Bancorp		4,144,997		0.3
	22,850		First American Financial Corp.		1,181,802		0.1
	1,664		First Citizens BancShares, Inc.		671,091		0.0
	14,428		First Hawaiian, Inc.		418,701		0.0
	68,214		First Horizon National Corp.		1,216,938		0.1
	33,815		First Republic Bank		3,272,954		0.2
	67,983		FNB Corp.		912,332		0.1
	55,627		FNF Group		2,092,688		0.1
	66,708		Franklin Resources, Inc.		2,137,991		0.1
	8,924		Hanover Insurance Group, Inc.		1,066,953		0.1
	75,340		Hartford Financial Services Group, Inc.		3,852,134		0.2
	230,811		Huntington Bancshares, Inc.		3,406,770		0.2
	14,801		Interactive Brokers Group, Inc.		953,332		0.1
	85,446		Invesco Ltd.		2,269,446		0.1
	65,355		Jefferies Financial Group, Inc.		1,486,173		0.1
	222,651		Keycorp		4,350,601		0.3
	24,476		Lazard Ltd.		1,197,121		0.1
	17,636		Legg Mason, Inc.		612,498		0.0
	46,008		Lincoln National Corp.		2,863,998		0.2
	59,245		Loews Corp.		2,860,349		0.2
	18,607		LPL Financial Holdings, Inc.		1,219,503		0.1
	30,546		M&T Bank Corp.		5,197,402		0.3
	2,862	⁽¹⁾	Markel Corp.		3,103,410		0.2
	7,717		MarketAxess Holdings, Inc.		1,526,886		0.1
	5,751		Mercury General Corp.		262,016		0.0
	83,606		MFA Financial, Inc.		633,733		0.0
	35,126		Moody's Corp.		5,991,091		0.4
	3,824		Morningstar, Inc.		490,428		0.0
	18,552		MSCI, Inc. - Class A		3,069,057		0.2
	24,702		Nasdaq, Inc.		2,254,552		0.1
	55,048		Navient Corp.		717,275		0.0
	70,349		New Residential Investment Corp.		1,230,404		0.1
	100,306		New York Community Bancorp., Inc.		1,107,378		0.1
	43,707		Northern Trust Corp.		4,497,013		0.3
	59,644		Old Republic International Corp.		1,187,512		0.1
	16,082	⁽¹⁾	OneMain Holdings, Inc.		535,370		0.0
	26,386		PacWest Bancorp		1,303,996		0.1
	72,872		People's United Financial, Inc.		1,318,254		0.1
	15,784		Pinnacle Financial Partners, Inc.		968,348		0.1
	21,217		Popular, Inc.		959,221		0.1
	59,592		Principal Financial Group, Inc.		3,155,396		0.2
	14,010		Prosperity Bancshares, Inc.		957,724		0.1
	27,648		Raymond James Financial, Inc.		2,470,349		0.2

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	236,593		Regions Financial Corp.		4,206,624		0.3
	13,583		Reinsurance Group of America, Inc.		1,813,059		0.1
	8,373		RenaissanceRe Holdings Ltd.		1,007,439		0.1
	24,334		Santander Consumer USA Holdings, Inc.		464,536		0.0
	28,094		SEI Investments Co.		1,756,437		0.1
	11,396	⁽¹⁾	Signature Bank		1,457,320		0.1
	91,631	⁽¹⁾	SLM Corp.		1,049,175		0.1
	53,761		Starwood Property Trust, Inc.		1,167,151		0.1
	46,932		Sterling Bancorp, Inc./DE		1,102,902		0.1
	97,895		SunTrust Banks, Inc.		6,463,028		0.4
	11,138	⁽¹⁾	SVB Financial Group		3,216,209		0.2
	159,315		Synchrony Financial		5,317,935		0.3
	24,679		Synovus Financial Corp.		1,303,792		0.1
	49,758		T. Rowe Price Group, Inc.		5,776,406		0.4
	34,705		TCF Financial Corp.		854,437		0.1
	10,446	⁽¹⁾	Texas Capital Bancshares, Inc.		955,809		0.1
	10,424		TFS Financial Corp.		164,386		0.0
	22,203		Torchmark Corp.		1,807,546		0.1
	36,536		Two Harbors Investment Corp.		577,269		0.0
	46,160		Umpqua Holdings Corp.		1,042,754		0.1
	44,140		Unum Group		1,632,739		0.1
	16,254		Validus Holdings Ltd.		1,098,770		0.1
	8,225		Virtu Financial, Inc.		218,374		0.0
	35,533	⁽³⁾	Voya Financial, Inc.		1,670,051		0.1
	19,242		Webster Financial Corp.		1,225,715		0.1
	20,689	⁽¹⁾	Western Alliance Bancorp.		1,171,204		0.1
	646		White Mountains Insurance Group Ltd.		585,670		0.0
	27,739		Willis Towers Watson PLC		4,205,232		0.3
	11,750		Wintrust Financial Corp.		1,022,838		0.1
	20,010		WR Berkley Corp.		1,448,924		0.1
	53,209		XL Group Ltd.		2,977,044		0.2
	40,974		Zions Bancorp.		2,158,920		0.1
					214,038,497		13.8

			Health Care: 9.6%
	8,890	⁽¹⁾	Abiomed, Inc.		3,636,454		0.2
	18,220	⁽¹⁾	Acadia Healthcare Co., Inc.		745,380		0.0
	67,945		Agilent Technologies, Inc.		4,201,719		0.3
	10,651	⁽¹⁾	Agios Pharmaceuticals, Inc.		897,134		0.1
	16,701	⁽¹⁾	Align Technology, Inc.		5,714,080		0.4
	32,394	⁽¹⁾	Alkermes PLC		1,333,337		0.1
	18,806	⁽¹⁾	Alnylam Pharmaceuticals, Inc.		1,852,203		0.1
	33,725		AmerisourceBergen Corp.		2,875,731		0.2
	8,418	⁽¹⁾	Athenahealth, Inc.		1,339,641		0.1
	37,185	⁽¹⁾	BioMarin Pharmaceutical, Inc.		3,502,827		0.2
	4,454	⁽¹⁾	Bio-Rad Laboratories, Inc.		1,285,157		0.1
	7,827		Bio-Techne Corp.		1,158,005		0.1
	10,548	⁽¹⁾	Bluebird Bio, Inc.		1,655,509		0.1
	21,146		Bruker Corp.		614,080		0.0
	7,751		Cantel Medical Corp.		762,388		0.0
	65,487		Cardinal Health, Inc.		3,197,730		0.2
	27,982	⁽¹⁾	Catalent, Inc.		1,172,166		0.1
	42,759	⁽¹⁾	Centene Corp.		5,268,336		0.3
	66,791	⁽¹⁾	Cerner Corp.		3,993,434		0.3
	9,955	⁽¹⁾	Charles River Laboratories International, Inc.		1,117,548		0.1
	3,265		Chemed Corp.		1,050,710		0.1
	10,191		Cooper Cos., Inc.		2,399,471		0.2
	28,548	⁽¹⁾	DaVita, Inc.		1,982,373		0.1
	47,120		Dentsply Sirona, Inc.		2,062,442		0.1
	18,392	⁽¹⁾	DexCom, Inc.		1,746,872		0.1
	44,252	⁽¹⁾	Edwards Lifesciences Corp.		6,441,764		0.4
	20,619		Encompass Health Corp.		1,396,319		0.1
	25,254	⁽¹⁾	Envision Healthcare Corp.		1,111,429		0.1
	25,206	⁽¹⁾	Exact Sciences Corp.		1,507,067		0.1
	61,766	⁽¹⁾	Exelixis, Inc.		1,329,204		0.1
	32,300	⁽¹⁾	Henry Schein, Inc.		2,346,272		0.1
	13,925		Hill-Rom Holdings, Inc.		1,216,209		0.1
	57,164	⁽¹⁾	Hologic, Inc.		2,272,269		0.1
	3,283	⁽¹⁾	ICU Medical, Inc.		964,053		0.1
	18,089	⁽¹⁾	Idexx Laboratories, Inc.		3,942,317		0.3
	36,960	⁽¹⁾	Incyte Corp., Ltd.		2,476,320		0.2
	12,297	⁽¹⁾	Insulet Corp.		1,053,853		0.1
	15,253	⁽¹⁾	Integra LifeSciences Holdings Corp.		982,446		0.1
	26,289	^(1),(2)	Ionis Pharmaceuticals, Inc.		1,095,463		0.1
	34,326	⁽¹⁾	IQVIA Holdings, Inc.		3,426,421		0.2
	12,379	⁽¹⁾	Jazz Pharmaceuticals PLC		2,132,902		0.1
	21,496	⁽¹⁾	Laboratory Corp. of America Holdings		3,859,177		0.2
	9,493	⁽¹⁾	Masimo Corp.		926,991		0.1
	19,464	⁽¹⁾	Mednax, Inc.		842,402		0.1
	5,242	⁽¹⁾	Mettler Toledo International, Inc.		3,033,178		0.2
	12,945	⁽¹⁾	Molina Healthcare, Inc.		1,267,833		0.1
	108,175	⁽¹⁾	Mylan NV		3,909,445		0.2
	32,896	⁽¹⁾	Nektar Therapeutics		1,606,312		0.1
	18,763	⁽¹⁾	Neurocrine Biosciences, Inc.		1,843,277		0.1
	6,449	⁽¹⁾	Penumbra, Inc.		890,929		0.1
	23,166		PerkinElmer, Inc.		1,696,446		0.1
	27,221		Perrigo Co. PLC		1,984,683		0.1
	10,633	⁽¹⁾	PRA Health Sciences, Inc.		992,697		0.1
	10,983	⁽¹⁾	Premier, Inc.		399,562		0.0
	46,689	⁽¹⁾	QIAGEN NV		1,688,274		0.1
	28,590		Quest Diagnostics, Inc.		3,143,185		0.2
	29,620		Resmed, Inc.		3,068,040		0.2
	9,564	⁽¹⁾	Sage Therapeutics, Inc.		1,497,053		0.1
	13,031	^(1),(2)	Sarepta Therapeutics, Inc.		1,722,438		0.1
	22,560	⁽¹⁾	Seattle Genetics, Inc.		1,497,758		0.1
	17,633		STERIS PLC		1,851,641		0.1
	9,597		Teleflex, Inc.		2,574,011		0.2
	8,119	^(1),(2)	Tesaro, Inc.		361,052		0.0
	9,042	⁽¹⁾	United Therapeutics Corp.		1,023,102		0.1
	17,832		Universal Health Services, Inc.		1,987,198		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	19,268	⁽¹⁾	Varian Medical Systems, Inc.		2,191,157		0.1
	25,284	⁽¹⁾	Veeva Systems, Inc.		1,943,328		0.1
	16,387	⁽¹⁾	Waters Corp.		3,172,359		0.2
	9,401	⁽¹⁾	WellCare Health Plans, Inc.		2,314,902		0.1
	15,399		West Pharmaceutical Services, Inc.		1,528,967		0.1
	42,914		Zimmer Biomet Holdings, Inc.		4,782,336		0.3
					148,858,768		9.6

			Industrial: 0.2%
	88,480		American Airlines Group, Inc.		3,358,701		0.2

			Industrials: 13.3%
	8,568		Acuity Brands, Inc.		992,774		0.1
	22,225	⁽²⁾	ADT, Inc.		192,246		0.0
	33,619	⁽¹⁾	AECOM		1,110,436		0.1
	14,022		AGCO Corp.		851,416		0.1
	20,447		Air Lease Corp.		858,161		0.1
	25,316		Alaska Air Group, Inc.		1,528,833		0.1
	19,993		Allegion Public Ltd.		1,546,659		0.1
	25,426		Allison Transmission Holdings, Inc.		1,029,499		0.1
	1,472		AMERCO		524,253		0.0
	48,107		Ametek, Inc.		3,471,401		0.2
	29,930		AO Smith Corp.		1,770,360		0.1
	91,137		Arconic, Inc.		1,550,240		0.1
	9,482	⁽¹⁾	Armstrong World Industries, Inc.		599,262		0.0
	20,954		BWX Technologies, Inc.		1,305,853		0.1
	12,546		Carlisle Cos., Inc.		1,358,857		0.1
	29,127		CH Robinson Worldwide, Inc.		2,436,765		0.2
	18,394		Cintas Corp.		3,404,178		0.2
	10,840	⁽¹⁾	Clean Harbors, Inc.		602,162		0.0
	18,768	⁽¹⁾	Colfax Corp.		575,239		0.0
	6,579		Copa Holdings S.A.- Class A		622,505		0.0
	42,693	⁽¹⁾	Copart, Inc.		2,414,716		0.2
	7,534	⁽¹⁾	CoStar Group, Inc.		3,108,754		0.2
	10,526		Crane Co.		843,448		0.1
	32,182		Cummins, Inc.		4,280,206		0.3
	9,258		Curtiss-Wright Corp.		1,101,887		0.1
	27,358		Donaldson Co., Inc.		1,234,393		0.1
	31,950		Dover Corp.		2,338,740		0.1
	7,822		Dun & Bradstreet Corp.		959,368		0.1
	25,183		Equifax, Inc.		3,150,645		0.2
	36,679		Expeditors International Washington, Inc.		2,681,235		0.2
	60,546		Fastenal Co.		2,914,079		0.2
	27,555		Flowserve Corp.		1,113,222		0.1
	29,541		Fluor Corp.		1,441,010		0.1
	64,819		Fortive Corp.		4,998,193		0.3
	30,626		Fortune Brands Home & Security, Inc.		1,644,310		0.1
	22,386	⁽¹⁾	Gardner Denver Holdings, Inc.		657,925		0.0
	9,353	^(1),(2)	Gates Industrial Corp. PLC		152,173		0.0
	12,533	⁽¹⁾	Genesee & Wyoming, Inc.		1,019,184		0.1
	34,836		Graco, Inc.		1,575,284		0.1
	8,048		GrafTech International Ltd.		144,784		0.0
	24,982		Harris Corp.		3,610,898		0.2
	39,063	⁽¹⁾	HD Supply Holdings, Inc.		1,675,412		0.1
	8,099	⁽²⁾	Heico Corp.		590,642		0.0
	15,956		Heico Corp. - Class A		972,533		0.1
	18,819		Hexcel Corp.		1,249,205		0.1
	11,504		Hubbell, Inc.		1,216,433		0.1
	9,195		Huntington Ingalls Industries, Inc.		1,993,384		0.1
	16,144		IDEX Corp.		2,203,333		0.1
	82,039	⁽¹⁾	IHS Markit Ltd.		4,232,392		0.3
	52,179		Ingersoll-Rand PLC - Class A		4,682,022		0.3
	18,401		ITT, Inc.		961,820		0.1
	26,855		Jacobs Engineering Group, Inc.		1,705,024		0.1
	18,346		JB Hunt Transport Services, Inc.		2,229,956		0.1
	66,622	⁽¹⁾	JetBlue Airways Corp.		1,264,486		0.1
	21,563		Kansas City Southern		2,284,816		0.1
	28,339		KAR Auction Services, Inc.		1,552,977		0.1
	12,418	⁽¹⁾	Kirby Corp.		1,038,145		0.1
	27,139		Knight-Swift Transportation Holdings, Inc.		1,036,981		0.1
	16,491		L3 Technologies, Inc.		3,171,549		0.2
	8,817		Landstar System, Inc.		962,816		0.1
	7,731		Lennox International, Inc.		1,547,360		0.1
	13,256		Lincoln Electric Holdings, Inc.		1,163,347		0.1
	16,743		Macquarie Infrastructure Co. LLC		706,555		0.0
	13,823		Manpowergroup, Inc.		1,189,607		0.1
	65,201		Masco Corp.		2,439,821		0.2
	11,535	^(1),(2)	Middleby Corp.		1,204,485		0.1
	9,419		MSC Industrial Direct Co.		799,202		0.0
	75,116		Nielsen Holdings PLC		2,323,338		0.1
	12,193		Nordson Corp.		1,565,703		0.1
	33,882	⁽¹⁾	nVent Electric PLC		850,438		0.1
	13,873		Old Dominion Freight Line		2,066,522		0.1
	15,491		Oshkosh Corp.		1,089,327		0.1
	23,078		Owens Corning, Inc.		1,462,453		0.1
	72,344		Paccar, Inc.		4,482,434		0.3
	27,946		Parker Hannifin Corp.		4,355,384		0.3
	33,891		Pentair PLC		1,426,133		0.1
	31,480	⁽¹⁾	Quanta Services, Inc.		1,051,432		0.1
	9,208		Regal Beloit Corp.		753,214		0.0
	46,318		Republic Services, Inc.		3,166,299		0.2
	25,330		Robert Half International, Inc.		1,648,983		0.1
	26,373		Rockwell Automation, Inc.		4,383,984		0.3
	34,541		Rockwell Collins, Inc.		4,651,982		0.3
	20,354		Rollins, Inc.		1,070,213		0.1
	21,349		Roper Technologies, Inc.		5,890,403		0.4
	10,961		Ryder System, Inc.		787,658		0.0
	9,995		Schneider National, Inc.		274,963		0.0
	35,647	⁽¹⁾	Sensata Technologies Holding PLC		1,696,084		0.1
	11,819		Snap-On, Inc.		1,899,550		0.1
	23,835		Spirit Aerosystems Holdings, Inc.		2,047,665		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	32,561		Stanley Black & Decker, Inc.		4,324,426		0.3
	17,449	⁽¹⁾	Stericycle, Inc.		1,139,245		0.1
	7,438	⁽¹⁾	Teledyne Technologies, Inc.		1,480,608		0.1
	14,318		Terex Corp.		604,076		0.0
	53,998		Textron, Inc.		3,559,008		0.2
	14,440		Timken Co.		628,862		0.0
	22,123		Toro Co.		1,332,911		0.1
	10,212		TransDigm Group, Inc.		3,524,570		0.2
	38,753		TransUnion		2,776,265		0.2
	30,971		Trinity Industries, Inc.		1,061,067		0.1
	52,425	⁽¹⁾	United Continental Holdings, Inc.		3,655,595		0.2
	17,586	⁽¹⁾	United Rentals, Inc.		2,596,045		0.2
	24,268	⁽¹⁾	Univar, Inc.		636,792		0.0
	17,162	⁽¹⁾	USG Corp.		740,025		0.0
	4,647		Valmont Industries, Inc.		700,535		0.0
	33,798	⁽¹⁾	Verisk Analytics, Inc.		3,638,017		0.2
	11,272	⁽¹⁾	WABCO Holdings, Inc.		1,319,049		0.1
	18,095	⁽²⁾	Wabtec Corp.		1,783,805		0.1
	6,714		Watsco, Inc.		1,196,972		0.1
	27,387	⁽¹⁾	Welbilt, Inc.		611,004		0.0
	9,886	⁽¹⁾	Wesco International, Inc.		564,491		0.0
	9,574		WW Grainger, Inc.		2,952,622		0.2
	25,068	⁽¹⁾	XPO Logistics, Inc.		2,511,312		0.2
	37,755		Xylem, Inc.		2,543,932		0.2
					206,615,252		13.3

			Information Technology: 18.2%
	11,362	⁽¹⁾	2U, Inc.		949,409		0.1
	191,406	⁽¹⁾	Advanced Micro Devices, Inc.		2,869,176		0.2
	34,947	⁽¹⁾	Akamai Technologies, Inc.		2,559,169		0.2
	10,159		Alliance Data Systems Corp.		2,369,079		0.2
	30,089		Amdocs Ltd.		1,991,591		0.1
	9		Amdocs Ltd.		596		0.0
	62,188		Amphenol Corp.		5,419,684		0.3
	77,839		Analog Devices, Inc.		7,466,317		0.5
	17,551	⁽¹⁾	ANSYS, Inc.		3,057,033		0.2
	11,982	⁽¹⁾	Arista Networks, Inc.		3,085,245		0.2
	36,747	⁽¹⁾	ARRIS International PLC		898,280		0.1
	18,321	⁽¹⁾	Arrow Electronics, Inc.		1,379,205		0.1
	15,047	⁽¹⁾	Aspen Technology, Inc.		1,395,459		0.1
	19,352	⁽¹⁾	Atlassian Corp. PLC		1,209,887		0.1
	46,222	⁽¹⁾	Autodesk, Inc.		6,059,242		0.4
	24,666		Avnet, Inc.		1,057,925		0.1
	29,905	⁽¹⁾	Black Knight, Inc.		1,601,413		0.1
	29,845		Booz Allen Hamilton Holding Corp.		1,305,122		0.1
	24,723		Broadridge Financial Solutions, Inc. ADR		2,845,617		0.2
	66,121		CA, Inc.		2,357,214		0.1
	58,826	⁽¹⁾	Cadence Design Systems, Inc.		2,547,754		0.2
	14,315	⁽¹⁾	Cavium, Inc.		1,238,248		0.1
	27,732		CDK Global, Inc.		1,803,967		0.1
	31,210		CDW Corp.		2,521,456		0.2
	4,972	⁽¹⁾	Ceridian HCM Holding, Inc.		165,021		0.0
	28,503	⁽¹⁾	Citrix Systems, Inc.		2,988,255		0.2
	34,825		Cognex Corp.		1,553,543		0.1
	5,211	⁽¹⁾	Coherent, Inc.		815,105		0.1
	39,974	⁽¹⁾	CommScope Holding Co., Inc.		1,167,441		0.1
	40,113	⁽¹⁾	Conduent, Inc.		728,853		0.0
	17,140	⁽¹⁾	CoreLogic, Inc.		889,566		0.1
	172,314		Corning, Inc.		4,740,358		0.3
	75,454		Cypress Semiconductor Corp.		1,175,573		0.1
	42,086	⁽¹⁾	Dell Technologies, Inc. Class V		3,559,634		0.2
	5,272	⁽¹⁾	DocuSign, Inc.		279,152		0.0
	12,724		Dolby Laboratories, Inc.		784,944		0.0
	60,154		DXC Technology Co.		4,849,014		0.3
	10,061	⁽¹⁾	EchoStar Corp.		446,708		0.0
	10,682	⁽¹⁾	EPAM Systems, Inc.		1,328,093		0.1
	10,367	⁽¹⁾	Euronet Worldwide, Inc.		868,444		0.1
	12,875	⁽¹⁾	F5 Networks, Inc.		2,220,294		0.1
	6,184	⁽¹⁾	Fair Isaac Corp.		1,195,491		0.1
	69,493		Fidelity National Information Services, Inc.		7,368,343		0.5
	39,665	⁽¹⁾	FireEye, Inc.		610,444		0.0
	101,057	⁽¹⁾	First Data Corp.		2,115,123		0.1
	17,260	⁽¹⁾	First Solar, Inc.		908,912		0.1
	86,315	⁽¹⁾	Fiserv, Inc.		6,395,078		0.4
	18,754	⁽¹⁾	FleetCor Technologies, Inc.		3,950,530		0.3
	28,316		Flir Systems, Inc.		1,471,583		0.1
	29,294	⁽¹⁾	Fortinet, Inc.		1,828,824		0.1
	18,654	⁽¹⁾	Gartner, Inc.		2,479,117		0.2
	30,975		Genpact Ltd.		896,107		0.1
	33,471		Global Payments, Inc.		3,731,682		0.2
	31,533	⁽¹⁾	GoDaddy, Inc.		2,226,230		0.1
	19,008	⁽¹⁾	GrubHub, Inc.		1,994,129		0.1
	16,841	⁽¹⁾	Guidewire Software, Inc.		1,495,144		0.1
	15,692	⁽¹⁾	IAC/InterActiveCorp		2,392,873		0.2
	7,591	⁽¹⁾	IPG Photonics Corp.		1,674,802		0.1
	35,262		Jabil, Inc.		975,347		0.1
	16,211		Jack Henry & Associates, Inc.		2,113,266		0.1
	72,790		Juniper Networks, Inc.		1,995,902		0.1
	39,432	⁽¹⁾	Keysight Technologies, Inc.		2,327,671		0.1
	32,866		KLA-Tencor Corp.		3,369,751		0.2
	34,560		Lam Research Corp.		5,973,696		0.4
	30,130		Leidos Holdings, Inc.		1,777,670		0.1
	5,073		Littelfuse, Inc.		1,157,557		0.1
	10,824		LogMeIn, Inc.		1,117,578		0.1
	13,974	⁽¹⁾	Manhattan Associates, Inc.		656,918		0.0
	83,921		Marvell Technology Group Ltd.		1,799,266		0.1
	10,876	⁽¹⁾	Match Group, Inc.		421,336		0.0
	58,637		Maxim Integrated Products		3,439,646		0.2
	48,471		Microchip Technology, Inc.		4,408,437		0.3
	11,390		MKS Instruments, Inc.		1,090,023		0.1
	8,566		Monolithic Power Systems, Inc.		1,145,017		0.1
	34,153		Motorola Solutions, Inc.		3,974,385		0.3
	23,256		National Instruments Corp.		976,287		0.1
	24,844	⁽¹⁾	NCR Corp.		744,823		0.0
	56,563		NetApp, Inc.		4,441,892		0.3
	61,920	⁽¹⁾	Nuance Communications, Inc.		859,759		0.1
	22,414	⁽¹⁾	Nutanix, Inc.		1,155,890		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	18,048	⁽¹⁾	Okta, Inc.		909,078		0.1
	89,197	⁽¹⁾	ON Semiconductor Corp.		1,983,295		0.1
	18,670	⁽¹⁾	Palo Alto Networks, Inc.		3,836,125		0.2
	67,645		Paychex, Inc.		4,623,536		0.3
	10,451	^(1),(2)	Paycom Software, Inc.		1,032,872		0.1
	7,922		Pegasystems, Inc.		434,126		0.0
	10,590	⁽¹⁾	Proofpoint, Inc.		1,221,133		0.1
	24,086	⁽¹⁾	PTC, Inc.		2,259,508		0.1
	34,627	⁽¹⁾	Pure Storage, Inc.		826,893		0.1
	26,606	⁽¹⁾	Qorvo, Inc.		2,133,003		0.1
	14,783	⁽¹⁾	RealPage, Inc.		814,543		0.0
	37,313	⁽¹⁾	Red Hat, Inc.		5,013,748		0.3
	13,998	⁽¹⁾	RingCentral, Inc.		984,759		0.1
	50,324		Sabre Corp.		1,239,983		0.1
	36,911	⁽¹⁾	ServiceNow, Inc.		6,366,040		0.4
	38,290		Skyworks Solutions, Inc.		3,700,729		0.2
	30,518	⁽¹⁾	Splunk, Inc.		3,024,639		0.2
	60,273	⁽¹⁾	Square, Inc.		3,715,228		0.2
	43,436		SS&C Technologies Holdings, Inc.		2,254,328		0.1
	7,522		Switch, Inc.		91,543		0.0
	130,445		Symantec Corp.		2,693,689		0.2
	31,176	⁽¹⁾	Synopsys, Inc.		2,667,730		0.2
	14,265	⁽¹⁾	Tableau Software, Inc.		1,394,404		0.1
	23,789	⁽¹⁾	Take-Two Interactive Software, Inc.		2,815,666		0.2
	25,449	⁽¹⁾	Teradata Corp.		1,021,777		0.1
	40,264		Teradyne, Inc.		1,532,850		0.1
	37,920		Total System Services, Inc.		3,204,998		0.2
	52,529	⁽¹⁾	Trimble, Inc.		1,725,052		0.1
	15,076	⁽¹⁾	Twilio, Inc.		844,558		0.1
	149,130	⁽¹⁾	Twitter, Inc.		6,512,507		0.4
	7,929	⁽¹⁾	Tyler Technologies, Inc.		1,761,031		0.1
	4,051	^(1),(2)	Ubiquiti Networks, Inc.		343,201		0.0
	6,279	⁽¹⁾	Ultimate Software Group, Inc.		1,615,650		0.1
	8,954	⁽²⁾	Universal Display Corp.		770,044		0.0
	22,179	⁽¹⁾	VeriSign, Inc.		3,047,838		0.2
	22,888		Versum Materials, Inc.		850,289		0.1
	63,157		Western Digital Corp.		4,888,983		0.3
	97,065		Western Union Co.		1,973,331		0.1
	8,686	⁽¹⁾	WEX, Inc.		1,654,509		0.1
	30,593	⁽¹⁾	Workday, Inc.		3,705,424		0.2
	61,539	⁽¹⁾	Worldpay, Inc.		5,032,659		0.3
	46,997		Xerox Corp.		1,127,928		0.1
	53,672		Xilinx, Inc.		3,502,635		0.2
	11,112	⁽¹⁾	Zebra Technologies Corp.		1,591,794		0.1
	21,633	⁽¹⁾	Zendesk, Inc.		1,178,782		0.1
	11,712	⁽¹⁾	Zillow Group, Inc. - Class A		699,792		0.0
	24,031	^(1),(2)	Zillow Group, Inc. - Class C		1,419,271		0.1
	161,092	⁽¹⁾	Zynga, Inc.		655,644		0.0
					281,901,760		18.2

			Materials: 5.4%
	23,211	⁽²⁾	Albemarle Corp.		2,189,494		0.1
	39,357	⁽¹⁾	Alcoa Corp.		1,845,056		0.1
	13,093		Aptargroup, Inc.		1,222,624		0.1
	3,890		Ardagh Group SA		64,652		0.0
	13,124		Ashland Global Holdings, Inc.		1,026,034		0.1
	18,474		Avery Dennison Corp.		1,886,195		0.1
	45,381	⁽¹⁾	Axalta Coating Systems Ltd.		1,375,498		0.1
	72,451		Ball Corp.		2,575,633		0.2
	19,066		Bemis Co., Inc.		804,776		0.1
	27,732	⁽¹⁾	Berry Plastics Group, Inc.		1,274,008		0.1
	12,771		Cabot Corp.		788,865		0.0
	28,590		Celanese Corp.		3,175,205		0.2
	49,123		CF Industries Holdings, Inc.		2,181,061		0.1
	37,496		Chemours Co.		1,663,323		0.1
	27,222	⁽¹⁾	Crown Holdings, Inc.		1,218,457		0.1
	13,147		Domtar Corp.		627,638		0.0
	9,939		Eagle Materials, Inc.		1,043,297		0.1
	30,026		Eastman Chemical Co.		3,001,399		0.2
	28,241		FMC Corp.		2,519,380		0.2
	304,970		Freeport-McMoRan, Inc.		5,263,782		0.3
	65,137		Graphic Packaging Holding Co.		945,138		0.1
	45,944		Huntsman Corp.		1,341,565		0.1
	16,632		International Flavors & Fragrances, Inc.		2,061,703		0.1
	87,261		International Paper Co.		4,544,553		0.3
	13,236		Martin Marietta Materials, Inc.		2,955,996		0.2
	73,964		Mosaic Co.		2,074,690		0.1
	1,675		NewMarket Corp.		677,537		0.0
	112,342		Newmont Mining Corp.		4,236,417		0.3
	67,041		Nucor Corp.		4,190,062		0.3
	35,138		Olin Corp.		1,009,163		0.1
	34,052	⁽¹⁾	Owens-Illinois, Inc.		572,414		0.0
	19,688		Packaging Corp. of America		2,200,921		0.1
	46,737	⁽¹⁾	Platform Specialty Products Corp.		542,149		0.0
	14,776		Reliance Steel & Aluminum Co.		1,293,491		0.1
	13,721		Royal Gold, Inc.		1,273,858		0.1
	27,654		RPM International, Inc.		1,612,781		0.1
	8,466	⁽²⁾	Scotts Miracle-Gro Co.		704,033		0.0
	33,831		Sealed Air Corp.		1,436,126		0.1
	16,289		Silgan Holdings, Inc.		437,034		0.0
	20,706		Sonoco Products Co.		1,087,065		0.1
	47,652		Steel Dynamics, Inc.		2,189,609		0.1
	37,130		United States Steel Corp.		1,290,267		0.1
	41,216		Valvoline, Inc.		889,029		0.1
	27,695		Vulcan Materials Co.		3,574,317		0.2
	7,663		Westlake Chemical Corp.		824,769		0.1
	53,540		WestRock Co.		3,052,851		0.2
	13,983		WR Grace & Co.		1,025,094		0.1
					83,789,009		5.4

			Real Estate: 8.9%
	21,449		Alexandria Real Estate Equities, Inc.		2,706,220		0.2
	28,684		American Campus Communities, Inc.		1,229,970		0.1
	54,447		American Homes 4 Rent		1,207,634		0.1
	32,880		Apartment Investment & Management Co. - Class A		1,390,824		0.1
	45,614		Apple Hospitality REIT, Inc.		815,578		0.1
	29,094		AvalonBay Communities, Inc.		5,000,968		0.3

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate: (continued)
	32,549		Boston Properties, Inc.		4,082,296		0.3
	36,978		Brandywine Realty Trust		624,189		0.0
	63,521		Brixmor Property Group, Inc.		1,107,171		0.1
	18,698		Camden Property Trust		1,703,949		0.1
	66,943	⁽¹⁾	CBRE Group, Inc.		3,195,859		0.2
	102,550		Colony Capital, Inc.		639,912		0.0
	24,910		Columbia Property Trust, Inc.		565,706		0.0
	7,187		Coresite Realty Corp.		796,463		0.0
	21,498		Corporate Office Properties Trust SBI MD		623,227		0.0
	38,282		CubeSmart		1,233,446		0.1
	20,641		CyrusOne, Inc.		1,204,609		0.1
	19,855		DCT Industrial Trust, Inc.		1,324,924		0.1
	32,135		DDR Corp.		575,216		0.0
	43,320		Digital Realty Trust, Inc.		4,833,646		0.3
	33,818		Douglas Emmett, Inc.		1,358,807		0.1
	75,144		Duke Realty Corp.		2,181,430		0.1
	28,378		Empire State Realty Trust, Inc.		485,264		0.0
	15,526		EPR Properties		1,005,930		0.1
	24,724	⁽¹⁾	Equity Commonwealth		778,806		0.0
	17,827		Equity Lifestyle Properties, Inc.		1,638,301		0.1
	75,633		Equity Residential		4,817,066		0.3
	13,851		Essex Property Trust, Inc.		3,311,359		0.2
	25,700		Extra Space Storage, Inc.		2,565,117		0.2
	15,343		Federal Realty Investment Trust		1,941,657		0.1
	44,837		Forest City Realty Trust, Inc.		1,022,732		0.1
	42,453		Gaming and Leisure Properties, Inc.		1,519,817		0.1
	131,025		GGP, Inc.		2,676,841		0.2
	99,091		HCP, Inc.		2,558,530		0.2
	42,941		Healthcare Trust of America, Inc.		1,157,689		0.1
	21,404		Highwoods Properties, Inc.		1,085,825		0.1
	34,269		Hospitality Properties Trust		980,436		0.1
	154,295		Host Hotels & Resorts, Inc.		3,250,996		0.2
	8,172	⁽¹⁾	Howard Hughes Corp.		1,082,790		0.1
	32,457		Hudson Pacific Properties, Inc.		1,149,952		0.1
	62,909		Invitation Homes, Inc.		1,450,682		0.1
	59,822		Iron Mountain, Inc.		2,094,368		0.1
	21,593		JBG SMITH Properties		787,497		0.0
	9,549		Jones Lang LaSalle, Inc.		1,585,039		0.1
	20,408		Kilroy Realty Corp.		1,543,661		0.1
	85,632		Kimco Realty Corp.		1,454,888		0.1
	17,545		Lamar Advertising Co.		1,198,499		0.1
	31,054		Liberty Property Trust		1,376,624		0.1
	9,650		Life Storage, Inc.		939,041		0.1
	28,642		Macerich Co.		1,627,725		0.1
	76,412		Medical Properties Trust, Inc.		1,072,824		0.1
	23,889		Mid-America Apartment Communities, Inc.		2,404,906		0.2
	32,246		National Retail Properties, Inc.		1,417,534		0.1
	41,259	⁽²⁾	Omega Healthcare Investors, Inc.		1,279,029		0.1
	29,181		Outfront Media, Inc.		567,570		0.0
	43,653		Paramount Group, Inc.		672,256		0.0
	42,325		Park Hotels & Resorts, Inc.		1,296,415		0.1
	27,157		Rayonier, Inc.		1,050,704		0.1
	26,728	⁽²⁾	Realogy Holdings Corp.		609,398		0.0
	59,931		Realty Income Corp.		3,223,688		0.2
	31,997		Regency Centers Corp.		1,986,374		0.1
	46,140		Retail Properties of America, Inc.		589,669		0.0
	23,999	⁽¹⁾	SBA Communications Corp.		3,962,715		0.3
	49,522		Senior Housing Properties Trust		895,853		0.1
	17,997		SL Green Realty Corp.		1,809,238		0.1
	90,095		Spirit Realty Capital, Inc.		723,463		0.0
	37,545		STORE Capital Corp.		1,028,733		0.1
	16,422		Sun Communities, Inc.		1,607,385		0.1
	12,476		Taubman Centers, Inc.		733,090		0.0
	55,899		UDR, Inc.		2,098,448		0.1
	34,720	^(1),(2)	Uniti Group, Inc.		695,442		0.0
	75,018		Ventas, Inc.		4,272,275		0.3
	204,243		VEREIT, Inc.		1,519,568		0.1
	57,471		VICI Properties, Inc.		1,186,201		0.1
	36,317		Vornado Realty Trust		2,684,553		0.2
	25,148		Weingarten Realty Investors		774,810		0.0
	78,448		Welltower, Inc.		4,917,905		0.3
	159,600		Weyerhaeuser Co.		5,819,016		0.4
	22,290		WP Carey, Inc.		1,478,941		0.1
					137,867,179		8.9

			Telecommunication Services: 0.4%
	201,516		CenturyLink, Inc.		3,756,258		0.2
	135,680	⁽¹⁾	Sprint Corp.		738,099		0.1
	20,563		Telephone & Data Systems, Inc.		563,838		0.0
	2,731	⁽¹⁾	United States Cellular Corp.		101,156		0.0
	41,873	⁽¹⁾	Zayo Group Holdings, Inc.		1,527,527		0.1
					6,686,878		0.4

			Utilities: 6.0%
	139,283		AES Corp.		1,867,785		0.1
	48,775		Alliant Energy Corp.		2,064,158		0.1
	51,241		Ameren Corp.		3,118,015		0.2
	37,548		American Water Works Co., Inc.		3,205,848		0.2
	37,486		Aqua America, Inc.		1,318,758		0.1
	22,928		Atmos Energy Corp.		2,066,730		0.1
	11,815		Avangrid, Inc.		625,368		0.0
	90,948		Centerpoint Energy, Inc.		2,520,169		0.2
	59,345		CMS Energy Corp.		2,805,832		0.2
	65,629		Consolidated Edison, Inc.		5,117,749		0.3
	38,113		DTE Energy Co.		3,949,650		0.3
	66,966		Edison International		4,236,939		0.3
	38,103		Entergy Corp.		3,078,341		0.2
	57,071		Evergy, Inc.		3,204,537		0.2
	66,727		Eversource Energy		3,910,869		0.3
	100,521		FirstEnergy Corp.		3,609,709		0.2
	22,794		Hawaiian Electric Industries		781,834		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Utilities: (continued)
	40,855		MDU Resources Group, Inc.		1,171,721		0.1
	17,100		National Fuel Gas Co.		905,616		0.1
	76,366		NiSource, Inc.		2,006,899		0.1
	66,266		NRG Energy, Inc.		2,034,366		0.1
	42,008		OGE Energy Corp.		1,479,102		0.1
	108,960		PG&E Corp.		4,637,338		0.3
	23,519		Pinnacle West Capital Corp.		1,894,691		0.1
	147,627		PPL Corp.		4,214,751		0.3
	106,330		Public Service Enterprise Group, Inc.		5,756,706		0.4
	30,016		SCANA Corp.		1,156,216		0.1
	55,724		Sempra Energy		6,470,114		0.4
	36,382		UGI Corp.		1,894,411		0.1
	17,525		Vectren Corp.		1,252,161		0.1
	86,331	⁽¹⁾	Vistra Energy Corp.		2,042,591		0.1
	66,511		WEC Energy Group, Inc.		4,299,936		0.3
	107,215		Xcel Energy, Inc.		4,897,581		0.3
					93,596,491		6.0

		Total Common Stock (Cost $787,740,237)			1,549,607,108		99.8

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.5%
		Securities Lending Collateral⁽⁴⁾: 2.0%
	7,257,668	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.10%, due 07/02/18 (Repurchase Amount $7,258,921, collateralized by various U.S. Government Agency Obligations, 3.000%-4.500%, Market Value plus accrued interest $7,402,821, due 06/01/46-05/15/58)		7,257,668		0.4
	7,257,668	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $7,259,028, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $7,402,823, due 11/15/42-08/15/44)		7,257,668		0.5
	7,257,668	MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $7,258,933, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $7,402,821, due 02/01/21-10/15/58)		7,257,668		0.5
	1,526,267	Nomura Securities, Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $1,526,533, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.000%-9.000%, Market Value plus accrued interest $1,556,792, due 07/15/18-05/20/68)		1,526,267		0.1
	7,257,668	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $7,259,040, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $7,402,876, due 07/15/19-02/15/48)		7,257,668		0.5
				30,556,939		2.0

Shares				Value			Percentage of Net Assets
			Mutual Funds: 0.5%
	7,736,000	⁽⁵⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $7,736,000)		7,736,000			0.5

		Total Short-Term Investments (Cost $38,292,939)			38,292,939			2.5

		Total Investments in Securities (Cost $826,033,176)		$	1,587,900,047			102.3
		Liabilities in Excess of Other Assets			(35,049,038	)		(2.3	)
		Net Assets		$	1,552,851,009			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
ADR	American Depositary Receipt
(1)	Non-income producing security.

See Accompanying Notes to Financial Statements

Voya Russell™ Mid Cap Index Portfolio

PORTFOLIO OF INVESTMENTS

as of June 30, 2018 (unaudited) (continued)

(2)	Security, or a portion of the security, is on loan.
(3)	Investment in affiliate
(4)	Represents securities purchased with cash collateral received for securities on loan.
(5)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 97.4%
			Consumer Discretionary: 13.0%
	10,505	⁽¹⁾	1-800-Flowers.com, Inc.		131,838		0.0
	27,364		Aarons, Inc.		1,188,966		0.1
	27,123		Abercrombie & Fitch Co.		663,971		0.1
	11,859		Acushnet Holdings Corp.		290,071		0.0
	24,455	⁽¹⁾	Adtalem Global Education, Inc.		1,176,285		0.1
	21,569	⁽²⁾	AMC Entertainment Holdings, Inc.		342,947		0.0
	42,889	⁽¹⁾	American Axle & Manufacturing Holdings, Inc.		667,353		0.1
	64,614		American Eagle Outfitters, Inc.		1,502,275		0.2
	22,952	⁽¹⁾	American Outdoor Brands Corp.		276,113		0.0
	6,759	⁽¹⁾	American Public Education, Inc.		284,554		0.0
	3,143	⁽¹⁾	America's Car-Mart, Inc.		194,552		0.0
	7,742	⁽¹⁾	Asbury Automotive Group, Inc.		530,714		0.1
	71,577	⁽¹⁾	Ascena Retail Group, Inc.		285,234		0.0
	9,900	⁽¹⁾	At Home Group, Inc.		387,585		0.1
	5,583	⁽¹⁾	AV Homes, Inc.		119,476		0.0
	16,588	⁽¹⁾	Barnes & Noble Education, Inc.		93,556		0.0
	25,241		Barnes & Noble, Inc.		160,280		0.0
	5,200		Bassett Furniture Industries, Inc.		143,260		0.0
	20,414		BBX Capital Corp.		184,338		0.0
	13,471	⁽¹⁾	Beazer Homes USA, Inc.		198,697		0.0
	50,105		Bed Bath & Beyond, Inc.		998,342		0.1
	39,368	⁽¹⁾	Belmond Ltd.		438,953		0.1
	7,936	⁽²⁾	Big 5 Sporting Goods Corp.		60,314		0.0
	16,733	⁽²⁾	Big Lots, Inc.		699,105		0.1
	46	⁽¹⁾	Biglari Holdings, Inc.		43,700		0.0
	464	⁽¹⁾	Biglari Holdings, Inc.		85,139		0.0
	8,235		BJ's Restaurants, Inc.		494,100		0.1
	35,922		Bloomin Brands, Inc.		722,032		0.1
	5,638	^(1),(2)	Bojangles', Inc.		81,187		0.0
	7,732	⁽¹⁾	Boot Barn Holdings, Inc.		160,439		0.0
	3,084	^(1),(2)	Boston Omaha Corp.		64,980		0.0
	33,912		Boyd Gaming Corp.		1,175,390		0.1
	18,319	⁽²⁾	Brinker International, Inc.		871,984		0.1
	12,082	⁽²⁾	Buckle, Inc.		325,006		0.0
	17,358		Caleres, Inc.		596,942		0.1
	38,450		Callaway Golf Co.		729,396		0.1
	6,626	⁽¹⁾	Cambium Learning Group, Inc.		73,880		0.0
	13,200	⁽²⁾	Camping World Holdings, Inc.		329,736		0.0
	5,039		Capella Education Co.		497,349		0.1
	29,431	⁽¹⁾	Career Education Corp.		475,899		0.1
	16,122	^(1),(2)	Carrols Restaurant Group, Inc.		239,412		0.0
	11,323	^(1),(2)	Carvana Co.		471,037		0.1
	10,058		Cato Corp.		247,628		0.0
	3,493	⁽¹⁾	Cavco Industries, Inc.		725,321		0.1
	40,362	⁽¹⁾	Central European Media Enterprises Ltd.		167,502		0.0
	10,370	⁽¹⁾	Century Communities, Inc.		327,173		0.0
	16,485	⁽²⁾	Cheesecake Factory		907,664		0.1
	41,189	^(1),(2)	Chegg, Inc.		1,144,642		0.1
	50,711		Chico's FAS, Inc.		412,788		0.1
	6,860		Childrens Place, Inc./The		828,688		0.1
	5,407		Churchill Downs, Inc.		1,603,176		0.2
	7,536	⁽¹⁾	Chuy's Holdings, Inc.		231,355		0.0
	6,165		Citi Trends, Inc.		169,168		0.0
	14,582		Clear Channel Outdoor Holdings, Inc.		62,703		0.0
	7,737	^(1),(2)	Conn's, Inc.		255,321		0.0
	9,618	⁽¹⁾	Container Store Group, Inc.		80,887		0.0
	20,047		Cooper Tire & Rubber Co.		527,236		0.1
	6,936	⁽¹⁾	Cooper-Standard Holdings, Inc.		906,327		0.1
	19,066		Core-Mark Holding Co., Inc.		432,798		0.1
	7,480	⁽²⁾	Cracker Barrel Old Country Store, Inc.		1,168,451		0.1
	28,822	⁽¹⁾	CROCS, Inc.		507,555		0.1
	6,414		Culp, Inc.		157,464		0.0
	691	^(1),(2)	Daily Journal Corp.		159,068		0.0
	57,081		Dana, Inc.		1,152,465		0.1
	16,100	⁽¹⁾	Dave & Buster's Entertainment, Inc.		766,360		0.1
	12,662	⁽¹⁾	Deckers Outdoor Corp.		1,429,413		0.2
	9,797	⁽¹⁾	Del Frisco's Restaurant Group, Inc.		123,442		0.0
	12,007	⁽¹⁾	Del Taco Restaurants, Inc.		170,259		0.0
	29,744	⁽¹⁾	Denny's Corp.		473,822		0.1
	5,492	⁽²⁾	Dillard's, Inc.		518,994		0.1
	7,038	⁽²⁾	Dine Brands Global, Inc.		526,442		0.1
	10,629	⁽¹⁾	Dorman Products, Inc.		726,067		0.1
	24,295	⁽¹⁾	Drive Shack, Inc.		187,557		0.0
	25,771		DSW, Inc.		665,407		0.1
	4,639	^(1),(2)	Duluth Holdings, Inc.		110,362		0.0
	9,713	⁽¹⁾	El Pollo Loco Holdings, Inc.		110,728		0.0
	25,280	^(1),(2)	Eldorado Resorts, Inc.		988,448		0.1
	9,283		Emerald Expositions Events, Inc.		191,230		0.0
	52,963	⁽²⁾	Entercom Communications Corp.		399,871		0.1
	28,885		Entravision Communications Corp.		144,425		0.0
	12,478	^(1),(2)	Eros International PLC		162,214		0.0
	9,990		Ethan Allen Interiors, Inc.		244,755		0.0
	24,648		EW Scripps Co.		330,037		0.0
	30,953	^(1),(2)	Express, Inc.		283,220		0.0
	10,977	⁽¹⁾	Fiesta Restaurant Group, Inc.		315,040		0.0
	21,947	⁽¹⁾	Five Below, Inc.		2,144,441		0.2
	3,544		Flexsteel Industries, Inc.		141,406		0.0
	17,895	^(1),(2)	Fossil Group, Inc.		480,839		0.1
	14,164	⁽¹⁾	Fox Factory Holding Corp.		659,334		0.1
	14,857	⁽¹⁾	Francesca's Holdings Corp.		112,170		0.0
	3,982	⁽¹⁾	Gaia, Inc.		80,636		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Discretionary: (continued)
	37,620	⁽²⁾	GameStop Corp.		548,123		0.1
	44,726		Gannett Co., Inc.		478,568		0.1
	8,134	⁽¹⁾	Genesco, Inc.		322,920		0.0
	15,224	⁽¹⁾	Gentherm, Inc.		598,303		0.1
	17,337	⁽¹⁾	G-III Apparel Group Ltd.		769,763		0.1
	34,003	^(1),(2)	GNC Holdings, Inc.		119,691		0.0
	6,938	⁽¹⁾	Golden Entertainment, Inc.		187,257		0.0
	43,017	^(1),(2)	GoPro, Inc.		277,029		0.0
	32,348	⁽¹⁾	Gray Television, Inc.		511,098		0.1
	12,287	⁽¹⁾	Green Brick Partners, Inc.		120,413		0.0
	7,886		Group 1 Automotive, Inc.		496,818		0.1
	170,112	^(1),(2)	Groupon, Inc.		731,482		0.1
	23,720		Guess?, Inc.		507,608		0.1
	7,157	^(1),(2)	Habit Restaurants, Inc.		71,570		0.0
	2,652		Hamilton Beach Brands Holding Co.		77,041		0.0
	8,866		Haverty Furniture Cos., Inc.		191,506		0.0
	10,912	⁽¹⁾	Helen of Troy Ltd.		1,074,286		0.1
	8,399	^(1),(2)	Hibbett Sports, Inc.		192,337		0.0
	4,832		Hooker Furniture Corp.		226,621		0.0
	44,092	⁽¹⁾	Houghton Mifflin Harcourt Co.		337,304		0.0
	50,228	⁽¹⁾	Hovnanian Enterprises, Inc.		81,872		0.0
	13,816	⁽¹⁾	Hudson Ltd.		241,642		0.0
	43,021		ILG, Inc.		1,420,984		0.2
	22,934	⁽¹⁾	Imax Corp.		507,988		0.1
	9,038	⁽¹⁾	Installed Building Products, Inc.		511,099		0.1
	10,246		International Speedway Corp.		457,996		0.1
	10,931	^(1),(2)	iRobot Corp.		828,242		0.1
	7,979	⁽¹⁾	J Alexander's Holdings, Inc.		88,966		0.0
	8,169	⁽¹⁾	J. Jill, Inc.		76,298		0.0
	11,600		Jack in the Box, Inc.		987,392		0.1
	125,969	^(1),(2)	JC Penney Co., Inc.		294,767		0.0
	1,971		Johnson Outdoors, Inc.		166,609		0.0
	16,239	⁽¹⁾	K12, Inc.		265,832		0.0
	34,329		KB Home		935,122		0.1
	7,089	⁽¹⁾	Kirkland's, Inc.		82,516		0.0
	5,493	⁽¹⁾	Lands' End, Inc.		153,255		0.0
	20,383	⁽¹⁾	Laureate Education Inc.- Class A		292,088		0.0
	19,007		La-Z-Boy, Inc.		581,614		0.1
	9,647		LCI Industries		869,677		0.1
	7,379	^(1),(2)	LGI Homes, Inc.		425,990		0.1
	20,747	⁽¹⁾	Liberty Expedia Holdings, Inc.		911,623		0.1
	43,871	⁽¹⁾	Liberty Latin America Ltd.		850,220		0.1
	16,384	^(1),(2)	Liberty Latin America Ltd.		313,262		0.0
	19,446	^(1),(2)	Liberty Media Corp. - Braves C		502,874		0.1
	28,439	⁽¹⁾	Liberty TripAdvisor Holdings, Inc.		457,868		0.1
	6,146		Lifetime Brands, Inc.		77,747		0.0
	9,530		Lithia Motors, Inc.		901,252		0.1
	6,043	⁽¹⁾	Loral Space & Communications, Inc.		227,217		0.0
	11,259	^(1),(2)	Lumber Liquidators Holdings, Inc.		274,157		0.0
	11,740	⁽¹⁾	M/I Homes, Inc.		310,875		0.0
	8,735	⁽¹⁾	Malibu Boats, Inc.		366,346		0.0
	10,104		Marcus Corp.		328,380		0.0
	9,346	⁽¹⁾	MarineMax, Inc.		177,107		0.0
	8,723	⁽²⁾	Marriott Vacations Worldwide Corp.		985,350		0.1
	6,941	⁽¹⁾	MCBC Holdings, Inc.		200,942		0.0
	18,069		MDC Holdings, Inc.		555,983		0.1
	25,906	⁽¹⁾	MDC Partners, Inc.		119,168		0.0
	15,657		Meredith Corp.		798,507		0.1
	15,472	⁽¹⁾	Meritage Homes Corp.		679,994		0.1
	20,616	⁽¹⁾	Modine Manufacturing Co.		376,242		0.0
	3,433	⁽¹⁾	Monarch Casino & Resort, Inc.		151,224		0.0
	12,563		Monro, Inc.		729,910		0.1
	8,284	^(1),(2)	Motorcar Parts of America, Inc.		154,994		0.0
	6,857		Movado Group, Inc.		331,193		0.0
	24,570	⁽¹⁾	MSG Networks, Inc.		588,452		0.1
	11,599	⁽¹⁾	Murphy USA, Inc.		861,690		0.1
	1,128		Nathan's Famous, Inc.		106,145		0.0
	31,149		National CineMedia, Inc.		261,652		0.0
	13,312	⁽¹⁾	National Vision Holdings, Inc.		486,820		0.1
	13,560	⁽¹⁾	Nautilus, Inc.		212,892		0.0
	23,267		New Media Investment Group, Inc.		429,974		0.1
	51,754		New York Times Co.		1,340,429		0.2
	17,971	⁽²⁾	Nexstar Media Group, Inc.		1,319,071		0.2
	6,208	^(1),(2)	Noodles & Co.		76,358		0.0
	12,247		NutriSystem, Inc.		471,510		0.1
	216,388		Office Depot, Inc.		551,789		0.1
	19,014	⁽¹⁾	Ollie's Bargain Outlet Holdings, Inc.		1,378,515		0.2
	8,133	^(1),(2)	Overstock.com, Inc.		273,675		0.0
	6,623		Oxford Industries, Inc.		549,577		0.1
	10,201		Papa John's International, Inc.		517,395		0.1
	12,928	⁽¹⁾	Party City Holdco, Inc.		197,152		0.0
	34,329	⁽¹⁾	Penn National Gaming, Inc.		1,153,111		0.1
	6,571	⁽¹⁾	Perry Ellis International, Inc.		178,534		0.0
	8,188	⁽²⁾	PetMed Express, Inc.		360,681		0.0
	11,538		Pico Holdings, Inc.		134,418		0.0
	30,054		Pier 1 Imports, Inc.		71,529		0.0
	22,423	⁽¹⁾	Pinnacle Entertainment, Inc.		756,328		0.1
	35,740	⁽¹⁾	Planet Fitness, Inc.		1,570,416		0.2
	4,706	⁽¹⁾	PlayAGS, Inc.		127,391		0.0
	11,413	⁽¹⁾	Potbelly Corp.		147,798		0.0
	3,183		RCI Hospitality Holdings, Inc.		100,742		0.0
	5,310	⁽¹⁾	Red Robin Gourmet Burgers, Inc.		247,446		0.0
	28,228		Red Rock Resorts, Inc.		945,638		0.1
	16,668	⁽¹⁾	Regis Corp.		275,689		0.0
	17,248		Rent-A-Center, Inc.		253,891		0.0
	7,998	^(1),(2)	RH		1,117,321		0.1
	2,653		Rocky Brands, Inc.		79,590		0.0
	17,006	⁽¹⁾	Roku, Inc.		724,796		0.1
	13,693		Ruth's Hospitality Group, Inc.		384,089		0.1
	45,071	⁽¹⁾	Sally Beauty Holdings, Inc.		722,488		0.1
	11,559		Scholastic Corp.		512,179		0.1
	22,070	^(1),(2)	Scientific Games Corp.		1,084,741		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Consumer Discretionary: (continued)
	27,438	^(1),(2)	SeaWorld Entertainment, Inc.		598,697		0.1
	9,415	^(1),(2)	Shake Shack, Inc.		623,085		0.1
	3,650	⁽²⁾	Shoe Carnival, Inc.		118,443		0.0
	13,513	⁽¹⁾	Shutterfly, Inc.		1,216,575		0.1
	22,989		Signet Jewelers Ltd.		1,281,637		0.1
	28,714		Sinclair Broadcast Group, Inc.		923,155		0.1
	2,431		Skyline Corp.		85,182		0.0
	16,053	⁽¹⁾	Sleep Number Corp.		465,858		0.1
	10,674		Sonic Automotive, Inc.		219,884		0.0
	16,076	⁽²⁾	Sonic Corp.		553,336		0.1
	15,306	⁽¹⁾	Sotheby's		831,728		0.1
	6,307		Speedway Motorsports, Inc.		109,490		0.0
	17,638	^(1),(2)	Sportsman's Warehouse Holdings, Inc.		90,307		0.0
	9,198		Standard Motor Products, Inc.		444,631		0.1
	23,667		Steven Madden Ltd.		1,256,718		0.1
	11,505	⁽¹⁾	Stoneridge, Inc.		404,286		0.1
	4,638		Strayer Education, Inc.		524,140		0.1
	6,668	⁽²⁾	Sturm Ruger & Co., Inc.		373,408		0.0
	10,627	⁽²⁾	Superior Industries International		190,223		0.0
	19,841		Tailored Brands, Inc.		506,342		0.1
	44,638	⁽¹⁾	Taylor Morrison Home Corp.		927,578		0.1
	79,264		TEGNA, Inc.		860,014		0.1
	20,053		Tenneco, Inc.		881,530		0.1
	26,280		Texas Roadhouse, Inc.		1,721,603		0.2
	14,617		Tile Shop Holdings, Inc.		112,551		0.0
	5,225		Tilly's, Inc.		79,159		0.0
	14,310	⁽¹⁾	TopBuild Corp.		1,121,045		0.1
	8,801		Tower International, Inc.		279,872		0.0
	6,373	⁽¹⁾	Town Sports International Holdings, Inc.		92,727		0.0
	60,940	⁽¹⁾	TRI Pointe Group, Inc.		996,978		0.1
	9,428	⁽¹⁾	tronc, Inc.		162,916		0.0
	18,660		Tupperware Brands Corp.		769,538		0.1
	3,287	^(1),(2)	Turtle Beach Corp.		66,792		0.0
	7,657	⁽¹⁾	Unifi, Inc.		242,727		0.0
	5,865	⁽¹⁾	Universal Electronics, Inc.		193,838		0.0
	9,419	⁽¹⁾	Vera Bradley, Inc.		132,243		0.0
	23,839	⁽¹⁾	Vista Outdoor, Inc.		369,266		0.0
	10,016	^(1),(2)	Vuzix Corp.		74,619		0.0
	15,174	⁽¹⁾	Weight Watchers International, Inc.		1,534,091		0.2
	3,766		Weyco Group, Inc.		137,082		0.0
	10,928	^(1),(2)	WideOpenWest, Inc.		105,564		0.0
	11,655	⁽¹⁾	William Lyon Homes		270,396		0.0
	11,653		Wingstop, Inc.		607,354		0.1
	12,817		Winnebago Industries		520,370		0.1
	37,635		Wolverine World Wide, Inc.		1,308,569		0.2
	17,159	⁽²⁾	World Wrestling Entertainment, Inc.		1,249,518		0.1
	11,015	⁽¹⁾	Zagg, Inc.		190,560		0.0
	8,068	^(1),(2)	Zoes Kitchen, Inc.		78,744		0.0
	8,060	⁽¹⁾	Zumiez, Inc.		201,903		0.0
					117,688,992		13.0

			Consumer Staples: 2.7%
	43,004	⁽¹⁾	22nd Century Group, Inc.		105,790		0.0
	4,413	^(1),(2)	Alliance One International, Inc.		69,946		0.0
	11,761		Andersons, Inc.		402,226		0.0
	26,303	⁽²⁾	B&G Foods, Inc.		786,460		0.1
	3,369	⁽¹⁾	Boston Beer Co., Inc.		1,009,689		0.1
	6,433	⁽²⁾	Calavo Growers, Inc.		618,533		0.1
	12,251	⁽¹⁾	Cal-Maine Foods, Inc.		561,708		0.1
	52,875	⁽¹⁾	Castle Brands, Inc.		62,921		0.0
	19,008	⁽¹⁾	Central Garden & Pet Co. - A		769,254		0.1
	9,323	⁽¹⁾	Chefs' Warehouse Holdings, Inc.		265,706		0.0
	1,964		Coca-Cola Bottling Co. Consolidated		265,395		0.0
	5,020	⁽¹⁾	Craft Brew Alliance, Inc.		103,663		0.0
	65,774	⁽¹⁾	Darling Ingredients, Inc.		1,307,587		0.2
	36,965		Dean Foods Co.		388,502		0.0
	19,395	⁽¹⁾	Edgewell Personal Care Co.		978,672		0.1
	8,215	^(1),(2)	elf Beauty, Inc.		125,197		0.0
	4,078	⁽¹⁾	Farmer Bros Co.		124,583		0.0
	12,871		Fresh Del Monte Produce, Inc.		573,403		0.1
	10,285	⁽¹⁾	Freshpet, Inc.		282,323		0.0
	37,294	⁽¹⁾	Hostess Brands, Inc.		507,198		0.1
	50,149	⁽¹⁾	HRG Group, Inc.		656,450		0.1
	6,501		Ingles Markets, Inc.		206,732		0.0
	7,407		Inter Parfums, Inc.		396,275		0.0
	6,035		J&J Snack Foods Corp.		920,157		0.1
	3,854		John B Sanfilippo & Son, Inc.		286,930		0.0
	7,249		Lancaster Colony Corp.		1,003,407		0.1
	12,937	⁽¹⁾	Landec Corp.		192,761		0.0
	4,058		Limoneira Co.		99,867		0.0
	4,448		Medifast, Inc.		712,392		0.1
	5,445		MGP Ingredients, Inc.		483,570		0.1
	4,849	^(1),(2)	National Beverage Corp.		518,358		0.1
	4,412	⁽²⁾	Natural Health Trends Corp.		110,388		0.0
	38,991	⁽¹⁾	Performance Food Group Co.		1,430,970		0.2
	9,145		Pricesmart, Inc.		827,623		0.1
	11,084	⁽¹⁾	Primo Water Corp.		193,859		0.0
	5,091	^(1),(2)	Revlon, Inc. - Class A		89,347		0.0
	406,267	⁽¹⁾	Rite Aid Corp.		702,842		0.1
	8,304		Sanderson Farms, Inc.		873,166		0.1
	3,682	⁽¹⁾	Seneca Foods Corp.		99,414		0.0
	17,210	^(1),(2)	Simply Good Foods Co/The		248,512		0.0
	10,390	⁽¹⁾	Smart & Final Stores, Inc.		57,665		0.0
	15,985		SpartanNash Co.		407,937		0.1
	15,985	⁽¹⁾	SUPERVALU, Inc.		328,012		0.0
	7,922	⁽²⁾	Tootsie Roll Industries, Inc.		244,394		0.0
	3,066		Turning Point Brands, Inc.		97,805		0.0
	20,388	⁽¹⁾	United Natural Foods, Inc.		869,752		0.1
	9,995		Universal Corp.		660,170		0.1
	4,956	⁽¹⁾	USANA Health Sciences, Inc.		571,427		0.1
	38,962	⁽²⁾	Vector Group Ltd.		743,395		0.1
	5,692		WD-40 Co.		832,455		0.1
	4,554		Weis Markets, Inc.		242,910		0.0
					24,417,698		2.7

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Energy: 4.9%
	66,290	⁽¹⁾	Abraxas Petroleum Corp.		191,578		0.0
	30,387	^(1),(2)	Alta Mesa Resources, Inc.		206,935		0.0
	12,469	⁽¹⁾	Amyris, Inc.		79,677		0.0
	7,665		Arch Coal, Inc.		601,166		0.1
	54,710		Archrock, Inc.		656,520		0.1
	14,753	⁽¹⁾	Ardmore Shipping Corp.		120,975		0.0
	8,014	⁽¹⁾	Basic Energy Services, Inc.		89,036		0.0
	8,669	⁽¹⁾	Bonanza Creek Energy, Inc.		328,295		0.1
	13,444	⁽²⁾	Bristow Group, Inc.		189,695		0.0
	24,182	⁽¹⁾	C&J Energy Services, Inc.		570,695		0.1
	9,585	⁽¹⁾	Cactus, Inc.		323,877		0.1
	17,824	^(1),(2)	California Resources Corp.		809,923		0.1
	89,794	⁽¹⁾	Callon Petroleum Co.		964,388		0.1
	9,466	^(1),(2)	CARBO Ceramics, Inc.		86,803		0.0
	30,798	⁽¹⁾	Carrizo Oil & Gas, Inc.		857,724		0.1
	54,979	⁽¹⁾	Clean Energy Fuels Corp.		202,872		0.0
	31,246	⁽¹⁾	Cloud Peak Energy, Inc.		109,049		0.0
	10,910	⁽¹⁾	CONSOL Energy, Inc.		418,398		0.1
	13,104	^(1),(2)	Covia Holdings Corp.		243,210		0.0
	6,056		CVR Energy, Inc.		224,011		0.0
	9,493	⁽¹⁾	Dawson Geophysical Co.		74,995		0.0
	33,232		Delek US Holdings, Inc.		1,667,249		0.2
	171,698	⁽¹⁾	Denbury Resources, Inc.		825,867		0.1
	40,811		DHT Holdings, Inc.		191,404		0.0
	24,669	^(1),(2)	Diamond Offshore Drilling		514,595		0.1
	11,051	⁽¹⁾	Dorian L.P.G Ltd.		84,430		0.0
	15,277	⁽¹⁾	Dril-Quip, Inc.		785,238		0.1
	8,878	⁽¹⁾	Earthstone Energy, Inc.		78,570		0.0
	38,699	⁽¹⁾	Eclipse Resources Corp.		61,918		0.0
	34,207	^(1),(2)	Energy Fuels, Inc./Canada		77,650		0.0
	13,897	⁽¹⁾	Energy XXI Gulf Coast, Inc.		122,849		0.0
	12,968	⁽¹⁾	EP Energy Corp.		38,904		0.0
	12,268	⁽¹⁾	Era Group, Inc.		158,871		0.0
	10,656		Evolution Petroleum Corp.		104,962		0.0
	1	⁽¹⁾	EXCO Resources, Inc.		–		–
	13,886	⁽¹⁾	Exterran Corp.		347,705		0.1
	31,986	⁽¹⁾	Forum Energy Technologies, Inc.		395,027		0.1
	27,272	⁽²⁾	Frank's International N.V.		212,722		0.0
	32,821	⁽²⁾	Frontline Ltd./Bermuda		191,675		0.0
	7,556	⁽¹⁾	FTS International, Inc.		107,597		0.0
	17,305		GasLog Ltd.		330,525		0.1
	38,618	⁽²⁾	Golar LNG Ltd.		1,137,686		0.1
	16,520		Green Plains, Inc.		302,316		0.0
	66,136	⁽¹⁾	Gulfport Energy Corp.		831,329		0.1
	55,032	^(1),(2)	Halcon Resources Corp.		241,590		0.0
	58,279	⁽¹⁾	Helix Energy Solutions Group, Inc.		485,464		0.1
	43,255	⁽¹⁾	HighPoint Resources Corp.		262,990		0.0
	18,763	⁽¹⁾	Independence Contract Drilling, Inc.		77,304		0.0
	12,564	⁽¹⁾	International Seaways, Inc.		290,731		0.0
	4,070	⁽¹⁾	ION Geophysical Corp.		98,901		0.0
	24,570	^(1),(2)	Jagged Peak Energy, Inc.		319,901		0.1
	21,572	⁽¹⁾	Keane Group, Inc.		294,889		0.0
	5,060	⁽¹⁾	Key Energy Services, Inc.		82,174		0.0
	55,466	⁽¹⁾	Laredo Petroleum, Inc.		533,583		0.1
	5,164	^(1),(2)	Liberty Oilfield Services, Inc.		96,670		0.0
	20,088	⁽¹⁾	Lilis Energy, Inc.		104,458		0.0
	3,704	^(1),(2)	Mammoth Energy Services, Inc.		125,788		0.0
	38,858	⁽¹⁾	Matador Resources Co.		1,167,683		0.1
	11,780	⁽¹⁾	Matrix Service Co.		216,163		0.0
	71,702	⁽¹⁾	McDermott International, Inc.		1,408,944		0.2
	5,684	⁽¹⁾	Midstates Petroleum Co., Inc.		77,359		0.0
	1,740		Nacco Industries, Inc.		58,725		0.0
	7,783	⁽¹⁾	Natural Gas Services Group, Inc.		183,679		0.0
	5,430	^(1),(2)	NCS Multistage Holdings, Inc.		78,898		0.0
	38,876	⁽¹⁾	Newpark Resources, Inc.		421,805		0.1
	2,807	⁽¹⁾	Nine Energy Service, Inc.		92,968		0.0
	95,341	⁽¹⁾	Noble Corp. PLC		603,509		0.1
	57,665	⁽²⁾	Nordic American Tankers Ltd.		154,542		0.0
	39,057	⁽¹⁾	Northern Oil And Gas, Inc.		123,030		0.0
	106,068	⁽¹⁾	Oasis Petroleum, Inc.		1,375,702		0.2
	21,161	⁽¹⁾	Ocean Rig UDW, Inc.		623,826		0.1
	36,533		Oceaneering International, Inc.		930,130		0.1
	22,588	⁽¹⁾	Oil States International, Inc.		725,075		0.1
	21,710	⁽¹⁾	Overseas Shipholding Group, Inc.		84,235		0.0
	7,528		Panhandle Oil and Gas, Inc.		143,785		0.0
	14,783	⁽¹⁾	Par Pacific Holdings, Inc.		256,929		0.0
	26,430	⁽¹⁾	PDC Energy, Inc.		1,597,693		0.2
	31,069		Peabody Energy Corp.		1,413,018		0.2
	6,044	⁽¹⁾	Penn Virginia Corp.		513,075		0.1
	7,127	⁽¹⁾	PHI, Inc.		72,482		0.0
	33,278	⁽¹⁾	Pioneer Energy Services Corp.		194,676		0.0
	27,299	⁽¹⁾	ProPetro Holding Corp.		428,048		0.1
	17,048	⁽¹⁾	Renewable Energy Group, Inc.		304,307		0.0
	8,982	^(1),(2)	Resolute Energy Corp.		280,238		0.0
	2,595	⁽¹⁾	REX American Resources Corp.		210,117		0.0
	7,027	⁽¹⁾	RigNet, Inc.		72,378		0.0
	22,706	⁽¹⁾	Ring Energy, Inc.		286,550		0.0
	49,538	⁽¹⁾	Rowan Companies PLC		803,506		0.1
	27,768	^(1),(2)	Sanchez Energy Corp.		125,511		0.0
	15,097	⁽¹⁾	SandRidge Energy, Inc.		267,821		0.0
	111,860		Scorpio Tankers, Inc.		314,327		0.0
	7,276	⁽¹⁾	SEACOR Holdings, Inc.		416,696		0.1
	7,315	⁽¹⁾	SEACOR Marine Holdings, Inc.		168,903		0.0
	17,137	⁽¹⁾	Select Energy Services, Inc.		249,001		0.0
	30,278	⁽²⁾	SemGroup Corp. - Class A		769,061		0.1
	29,365	⁽²⁾	Ship Finance International Ltd.		439,007		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Energy: (continued)
	3,404	⁽¹⁾	SilverBow Resources, Inc.		98,308		0.0
	9,431	^(1),(2)	Smart Sand Inc.		50,079		0.0
	10,678	^(1),(2)	Solaris Oilfield Infrastructure, Inc.		152,589		0.0
	226,170	⁽¹⁾	Southwestern Energy Co.		1,198,701		0.1
	97,477	⁽¹⁾	SRC Energy, Inc.		1,074,197		0.1
	61,287	⁽¹⁾	Superior Energy Services		596,935		0.1
	8,160	⁽¹⁾	Talos Energy, Inc.		262,181		0.0
	27,413	⁽²⁾	Teekay Corp.		212,451		0.0
	63,186		Teekay Tankers Ltd. Class A		73,928		0.0
	31,187	⁽¹⁾	Tellurian, Inc.		259,476		0.0
	49,988	⁽¹⁾	Tetra Technologies, Inc.		222,447		0.0
	8,459	⁽¹⁾	Tidewater, Inc.		244,719		0.0
	80,332	⁽¹⁾	Ultra Petroleum Corp.		185,567		0.0
	21,551	⁽¹⁾	Unit Corp.		550,844		0.1
	65,225	⁽¹⁾	Uranium Energy Corp.		105,012		0.0
	33,097		US Silica Holdings, Inc.		850,262		0.1
	38,653	⁽¹⁾	W&T Offshore, Inc.		276,369		0.0
	19,360	⁽¹⁾	WildHorse Resource Development Corp.		490,970		0.1
	23,974		World Fuel Services Corp.		489,309		0.1
	22,101	^(1),(2)	Zion Oil & Gas, Inc.		89,620		0.0
					44,070,720		4.9

			Financials: 17.4%
	8,807		1st Source Corp.		470,558		0.1
	6,658		Access National Corp.		190,419		0.0
	13,822		AG Mortgage Investment Trust, Inc.		259,715		0.0
	6,910	^(1),(2)	Allegiance Bancshares, Inc.		299,548		0.0
	18,664	⁽¹⁾	Ambac Financial Group, Inc.		370,480		0.0
	35,777		American Equity Investment Life Holding Co.		1,287,972		0.1
	15,444		Ameris Bancorp.		823,937		0.1
	7,724		Amerisafe, Inc.		446,061		0.1
	5,884		Ames National Corp.		181,521		0.0
	42,344		Amtrust Financial Services, Inc.		616,952		0.1
	55,577		Anworth Mortgage Asset Corp.		276,218		0.0
	46,840		Apollo Commercial Real Estate Finance, Inc.		856,235		0.1
	13,307		Arbor Realty Trust, Inc.		138,792		0.0
	9,499		Ares Commercial Real Estate Corp.		131,181		0.0
	13,143		Argo Group International Holdings Ltd.		764,265		0.1
	17,205		ARMOUR Residential REIT, Inc.		392,446		0.1
	7,512		Arrow Financial Corp.		273,437		0.0
	18,172		Artisan Partners Asset Management, Inc.		547,886		0.1
	1,758	⁽²⁾	Associated Capital Group, Inc.		66,716		0.0
	11,496	⁽¹⁾	Atlantic Capital Bancshares, Inc.		225,896		0.0
	8,252		B. Riley Financial, Inc.		186,083		0.0
	17,533	⁽²⁾	Banc of California, Inc.		342,770		0.0
	7,883		Bancfirst Corp.		466,674		0.1
	22,403	⁽¹⁾	Bancorp, Inc.		234,335		0.0
	34,198		BancorpSouth Bank		1,126,824		0.1
	2,743		Bank of Marin Bancorp		221,772		0.0
	22,335		Bank of NT Butterfield & Son Ltd.		1,021,156		0.1
	10,569		BankFinancial Corp.		186,543		0.0
	13,661		Banner Corp.		821,436		0.1
	5,563		Bar Harbor Bankshares		168,503		0.0
	3,620	^(1),(2)	Baycom Corp.		89,595		0.0
	5,893		BCB Bancorp, Inc.		88,395		0.0
	31,252		Beneficial Bancorp, Inc.		506,282		0.1
	16,706		Berkshire Hills Bancorp, Inc.		678,264		0.1
	36,284	⁽²⁾	Blackstone Mortgage Trust, Inc.		1,140,406		0.1
	13,074		Banco Latinoamericano de Comercio Exterior SA		321,751		0.0
	9,823		Blue Hills Bancorp, Inc.		218,071		0.0
	24,392	⁽¹⁾	BofI Holding, Inc.		997,877		0.1
	34,582		Boston Private Financial Holdings, Inc.		549,854		0.1
	9,766		Bridge Bancorp, Inc.		351,088		0.0
	27,571		BrightSphere Investment Group PLC		393,162		0.1
	18,541		OceanFirst Financial Corp.		555,488		0.1
	33,358		Brookline Bancorp, Inc.		620,459		0.1
	10,333		Bryn Mawr Bank Corp.		478,418		0.1
	6,029	⁽¹⁾	Byline Bancorp, Inc.		134,688		0.0
	19,013		Cadence BanCorp		548,905		0.1
	1,137	⁽²⁾	Cambridge Bancorp		98,396		0.0
	8,653		Camden National Corp.		395,529		0.1
	26,328	⁽¹⁾	Cannae Holdings, Inc.		488,384		0.1
	52,487		Capitol Federal Financial, Inc.		690,729		0.1
	4,902	^(1),(2)	Capstar Financial Holdings, Inc.		90,834		0.0
	41,949		Capstead Mortgage Corp.		375,444		0.0
	8,687		Carolina Financial Corp.		372,846		0.0
	29,518		Cathay General Bancorp.		1,195,184		0.1
	4,519		CBTX, Inc.		149,353		0.0
	29,093		CenterState Bank Corp.		867,553		0.1
	11,018		Central Pacific Financial Corp.		315,666		0.0
	6,496		Central Valley Community Bancorp		137,455		0.0
	8,498		Charter Financial Corp.		205,227		0.0
	28,934		Chemical Financial Corp.		1,610,756		0.2
	9,238		Citizens & Northern Corp.		238,895		0.0
	22,894	^(1),(2)	Citizens, Inc.		178,344		0.0
	6,733		City Holding Co.		506,524		0.1
	4,616		Civista Bancshares, Inc.		111,892		0.0
	10,588		CNB Financial Corp.		318,275		0.0
	66,220		CNO Financial Group, Inc.		1,260,829		0.1
	21,330		CoBiz Financial, Inc.		458,168		0.1
	2,848		Codorus Valley Bancorp, Inc.		87,377		0.0
	8,845		Cohen & Steers, Inc.		368,925		0.0
	29,431		Colony Credit Real Estate, Inc.		610,105		0.1
	29,452		Columbia Banking System, Inc.		1,204,587		0.1
	10,122	⁽¹⁾	Columbia Financial, Inc.		167,519		0.0
	19,678		Community Bank System, Inc.		1,162,379		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	13,486	⁽¹⁾	Community Bankers Trust Corp.		120,700		0.0
	8,271		Community Trust Bancorp, Inc.		413,136		0.1
	14,813		ConnectOne Bancorp, Inc.		368,844		0.0
	11,775	^(1),(2)	Cowen, Inc.		163,084		0.0
	3,450	⁽¹⁾	Curo Group Holdings Corp.		86,077		0.0
	13,028	⁽¹⁾	Customers Bancorp, Inc.		369,735		0.0
	43,225		CVB Financial Corp.		969,104		0.1
	62,809		CYS Investments, Inc.		471,067		0.1
	1,564		Diamond Hill Investment Group, Inc.		304,089		0.0
	16,640		Dime Community Bancshares		324,480		0.0
	11,864	⁽¹⁾	Donnelley Financial Solutions, Inc.		206,078		0.0
	31,807		Dynex Capital, Inc.		207,700		0.0
	13,712	⁽¹⁾	Eagle Bancorp, Inc.		840,546		0.1
	7,886	⁽¹⁾	eHealth, Inc.		174,281		0.0
	9,271	⁽¹⁾	Elevate Credit, Inc.		78,433		0.0
	13,458		Employers Holdings, Inc.		541,012		0.1
	10,521	^(1),(2)	Encore Capital Group, Inc.		385,069		0.1
	13,376	⁽¹⁾	Enova International, Inc.		488,893		0.1
	4,915	⁽¹⁾	Enstar Group Ltd.		1,018,880		0.1
	3,518		Enterprise Bancorp, Inc./MA		142,233		0.0
	10,380		Enterprise Financial Services Corp.		560,001		0.1
	4,970	⁽¹⁾	Equity Bancshares, Inc.		206,156		0.0
	2,844	⁽¹⁾	Esquire Financial Holdings, Inc.		75,053		0.0
	37,154	⁽¹⁾	Essent Group Ltd.		1,330,856		0.2
	2,217		Evans Bancorp, Inc.		102,204		0.0
	18,233	⁽²⁾	Exantas Capital Corp.		185,612		0.0
	21,414	^(1),(2)	Ezcorp, Inc.		258,039		0.0
	3,755		Farmers & Merchants Bancorp, Inc./Archbold OH		151,514		0.0
	2,668		Farmers Capital Bank Corp.		139,003		0.0
	16,244		Farmers National Banc Corp.		259,092		0.0
	4,355		FB Financial Corp.		177,336		0.0
	4,290		FBL Financial Group, Inc.		337,837		0.0
	15,761	⁽¹⁾	FCB Financial Holdings, Inc.		926,747		0.1
	34,881		Federated Investors, Inc.		813,425		0.1
	5,750		FedNat Holding Co.		132,652		0.0
	47,260	⁽¹⁾	FGL Holdings		396,511		0.1
	1,287		Fidelity D&D Bancorp, Inc.		79,781		0.0
	8,487		Fidelity Southern Corp.		215,655		0.0
	24,966		Financial Engines, Inc.		1,120,973		0.1
	2,954		Financial Institutions, Inc.		97,187		0.0
	12,875		First Bancorp.		526,716		0.1
	80,156	⁽¹⁾	First BanCorp. Puerto Rico		613,193		0.1
	5,606		First Bancshares, Inc./The		201,536		0.0
	19,545		First Busey Corp.		619,967		0.1
	41,598		First Commonwealth Financial Corp.		645,185		0.1
	5,778		First Community Bancshares, Inc.		184,087		0.0
	5,141		First Connecticut Bancorp, Inc./Farmington CT		157,315		0.0
	6,008		First Defiance Financial Corp.		402,896		0.1
	39,177		First Financial Bancorp.		1,200,775		0.1
	26,232	⁽²⁾	First Financial Bankshares, Inc.		1,335,209		0.2
	7,468		First Financial Corp.		338,674		0.0
	17,980	⁽¹⁾	First Foundation, Inc.		333,349		0.0
	3,478		First Internet Bancorp		118,600		0.0
	10,344		First Interstate Bancsystem, Inc.		436,517		0.1
	18,120		First Merchants Corp.		840,768		0.1
	5,858		First Mid-Illinois Bancshares, Inc.		230,219		0.0
	40,990		First Midwest Bancorp., Inc.		1,044,015		0.1
	11,021	⁽²⁾	First of Long Island Corp.		273,872		0.0
	3,265		First United Corp.		66,769		0.0
	18,750		FirstCash, Inc.		1,684,687		0.2
	12,891	⁽¹⁾	Flagstar Bancorp, Inc.		441,646		0.1
	15,274		Flushing Financial Corp.		398,651		0.1
	3,426		FNB Bancorp/CA		125,631		0.0
	5,111	⁽¹⁾	Franklin Financial Network, Inc.		192,174		0.0
	67,347		Fulton Financial Corp.		1,111,225		0.1
	15,168	⁽²⁾	GAIN Capital Holdings, Inc.		114,518		0.0
	3,634		GAMCO Investors, Inc.		97,246		0.0
	201,763	⁽¹⁾	Genworth Financial, Inc.		907,933		0.1
	10,341	⁽²⁾	German American Bancorp, Inc.		370,725		0.0
	31,811		Glacier Bancorp., Inc.		1,230,449		0.1
	2,819		Global Indemnity Ltd.		109,885		0.0
	3,237	^(1),(2)	Goosehead Insurance, Inc.		80,796		0.0
	19,748		Granite Point Mortgage Trust, Inc.		362,376		0.0
	7,282		Great Southern Bancorp., Inc.		416,530		0.1
	24,471		Great Western Bancorp, Inc.		1,027,537		0.1
	9,457		Green Bancorp, Inc.		204,271		0.0
	19,135	⁽¹⁾	Green Dot Corp.		1,404,318		0.2
	10,143	⁽²⁾	Greenhill & Co., Inc.		288,061		0.0
	13,694	⁽¹⁾	Greenlight Capital Re Ltd.		194,455		0.0
	11,396		Guaranty Bancorp		339,601		0.0
	2,698		Guaranty Bancshares, Inc./TX		88,872		0.0
	4,575		Hamilton Lane, Inc.		219,463		0.0
	33,710		Hancock Holding Co.		1,572,571		0.2
	14,590		Hanmi Financial Corp.		413,626		0.1
	21,434	⁽²⁾	Hannon Armstrong Sustainable Infrastructure Capital, Inc.		423,321		0.1
	8,380	^(1),(2)	HarborOne Bancorp, Inc.		158,717		0.0
	3,428		HCI Group, Inc.		142,502		0.0
	5,081	⁽¹⁾	Health Insurance Innovations, Inc.		164,370		0.0
	10,903		Heartland Financial USA, Inc.		598,030		0.1
	16,088		Heritage Commerce Corp.		273,335		0.0
	14,613		Heritage Financial Corp.		509,263		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	9,862	⁽²⁾	Heritage Insurance Holdings, Inc.		164,400		0.0
	29,670		Hilltop Holdings, Inc.		654,817		0.1
	407		Hingham Institution for Savings		89,418		0.0
	1,965		Home Bancorp, Inc.		91,471		0.0
	64,167		Home Bancshares, Inc./Conway AR		1,447,608		0.2
	12,212	⁽¹⁾	HomeStreet, Inc.		329,113		0.0
	12,124	⁽¹⁾	HomeTrust Bancshares, Inc.		341,291		0.0
	54,543		Hope Bancorp, Inc.		972,502		0.1
	16,447		Horace Mann Educators Corp.		733,536		0.1
	20,193		Horizon Bancorp/IN		417,793		0.1
	10,921		Houlihan Lokey, Inc.		559,374		0.1
	4,766	⁽¹⁾	Howard Bancorp, Inc.		85,788		0.0
	20,600		Iberiabank Corp.		1,561,480		0.2
	5,187	⁽¹⁾	Impac Mortgage Holdings, Inc.		49,432		0.0
	11,724		Independent Bank Corp.		919,162		0.1
	12,514		Independent Bank Corp. Michigan		319,107		0.0
	8,134		Independent Bank Group, Inc.		543,351		0.1
	4,215		Infinity Property & Casualty Corp.		600,005		0.1
	22,625		International Bancshares Corp.		968,350		0.1
	7,187	⁽¹⁾	Intl. FCStone, Inc.		371,640		0.0
	45,513		Invesco Mortgage Capital, Inc.		723,657		0.1
	4,819		Investar Holding Corp.		133,245		0.0
	14,804		Investment Technology Group, Inc.		309,700		0.0
	100,577		Investors Bancorp, Inc.		1,286,380		0.1
	590		Investors Title Co.		108,949		0.0
	9,544		James River Group Holdings Ltd.		374,984		0.0
	43,409		Kearny Financial Corp./MD		583,851		0.1
	15,881		Kemper Corp.		1,201,398		0.1
	4,140		Kingstone Cos, Inc.		69,966		0.0
	7,075		Kinsale Capital Group, Inc.		388,135		0.1
	34,414		Ladder Capital Corp.		537,547		0.1
	50,562		Ladenburg Thalmann Financial Services, Inc.		171,911		0.0
	18,191		Lakeland Bancorp, Inc.		361,091		0.0
	11,091		Lakeland Financial Corp.		534,475		0.1
	20,360		LegacyTexas Financial Group, Inc.		794,447		0.1
	128,116	^(1),(2)	LendingClub Corp.		485,560		0.1
	3,013	^(1),(2)	LendingTree, Inc.		644,179		0.1
	11,820		Live Oak Bancshares, Inc.		362,283		0.0
	29,527		Maiden Holdings Ltd.		228,834		0.0
	4,094	⁽¹⁾	Malvern Bancorp, Inc.		99,689		0.0
	4,123		Marlin Business Services Corp.		123,072		0.0
	33,222		MB Financial, Inc.		1,551,467		0.2
	34,450	^(1),(2)	MBIA, Inc.		311,428		0.0
	7,124		Mercantile Bank Corp.		263,303		0.0
	5,099		Merchants Bancorp/IN		145,474		0.0
	21,766		Meridian Bancorp, Inc.		416,819		0.1
	3,958		Meta Financial Group, Inc.		385,509		0.1
	1,899	⁽¹⁾	Metropolitan Bank Holding Corp.		99,660		0.0
	151,721	⁽¹⁾	MGIC Investment Corp.		1,626,449		0.2
	8,069		Midland States Bancorp, Inc.		276,444		0.0
	4,551		MidWestOne Financial Group, Inc.		153,733		0.0
	14,091		Moelis & Co.		826,437		0.1
	21,626		MTGE Investment Corp.		423,870		0.1
	12,076		National Bank Holdings Corp.		466,013		0.1
	3,717		National Bankshares, Inc.		172,469		0.0
	5,379	⁽¹⁾	National Commerce Corp.		249,048		0.0
	23,574		National General Holdings Corp.		620,703		0.1
	1,187		National Western Life Group, Inc.		364,718		0.0
	13,077	⁽¹⁾	Nationstar Mortgage Holdings, Inc.		229,240		0.0
	8,412		Navigators Group, Inc.		479,484		0.1
	19,389		NBT Bancorp., Inc.		739,690		0.1
	8,047		Nelnet, Inc.		470,025		0.1
	59,102	⁽²⁾	New York Mortgage Trust, Inc.		355,203		0.0
	5,021	⁽¹⁾	Nicolet Bankshares, Inc.		276,707		0.0
	25,262	⁽¹⁾	NMI Holdings, Inc.		411,771		0.1
	27,089		Northfield Bancorp, Inc.		450,219		0.1
	38,657		Northwest Bancshares, Inc.		672,245		0.1
	3,210		Norwood Financial Corp.		115,624		0.0
	45,466	⁽¹⁾	Ocwen Financial Corp.		180,045		0.0
	19,085		OFG Bancorp		268,144		0.0
	6,588		Old Line Bancshares, Inc.		229,987		0.0
	54,036		Old National Bancorp.		1,005,070		0.1
	16,251		Old Second Bancorp, Inc.		234,014		0.0
	23,527	⁽¹⁾	On Deck Capital, Inc.		164,689		0.0
	3,326		Oppenheimer Holdings, Inc.		93,128		0.0
	7,906		Opus Bank		226,902		0.0
	20,914	⁽²⁾	Orchid Island Capital, Inc.		157,273		0.0
	2,276	⁽²⁾	Origin Bancorp, Inc.		93,179		0.0
	22,678		Oritani Financial Corp.		367,384		0.0
	3,879		Federal Agricultural Mortgage Corp.		347,093		0.0
	16,997	⁽¹⁾	Pacific Premier Bancorp, Inc.		648,436		0.1
	5,929		Park National Corp.		660,609		0.1
	4,505		PCSB Financial Corp.		89,514		0.0
	7,112		Peapack Gladstone Financial Corp.		246,004		0.0
	8,590	⁽¹⁾	PennyMac Financial Services, Inc.		168,794		0.0
	26,104		PennyMac Mortgage Investment Trust		495,715		0.1
	11,303		Peoples Bancorp., Inc.		427,027		0.1
	4,376		Peoples Financial Services Corp.		205,760		0.0
	8,976		People's Utah Bancorp		320,443		0.0
	15,420	⁽¹⁾	PHH Corp.		167,461		0.0
	5,804		Piper Jaffray Cos.		446,037		0.1
	8,301		PJT Partners, Inc.		443,190		0.1
	18,173	⁽¹⁾	PRA Group, Inc.		700,569		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	5,642		Preferred Bank/Los Angeles CA		346,757		0.0
	17,680		Primerica, Inc.		1,760,928		0.2
	17,890		ProAssurance Corp.		634,201		0.1
	27,135		Provident Financial Services, Inc.		747,027		0.1
	5,592		QCR Holdings, Inc.		265,340		0.0
	87,361		Radian Group, Inc.		1,416,995		0.2
	3,898		RBB Bancorp		125,204		0.0
	34,835		Redwood Trust, Inc.		573,732		0.1
	3,056	⁽¹⁾	Regional Management Corp.		107,021		0.0
	3,248		Reliant Bancorp, Inc.		91,106		0.0
	18,783		Renasant Corp.		855,002		0.1
	2,197		Republic Bancorp., Inc.		99,524		0.0
	21,942	^(1),(2)	Republic First Bancorp, Inc.		172,245		0.0
	15,310		RLI Corp.		1,013,369		0.1
	15,681		S&T Bancorp, Inc.		678,046		0.1
	11,462	⁽¹⁾	Safeguard Scientifics, Inc.		146,714		0.0
	6,617		Safety Insurance Group, Inc.		565,092		0.1
	14,398		Sandy Spring Bancorp, Inc.		590,462		0.1
	18,200	⁽¹⁾	Seacoast Banking Corp. of Florida		574,756		0.1
	23,368		Selective Insurance Group		1,285,240		0.1
	20,312		ServisFirst Bancshares, Inc.		847,620		0.1
	4,421		Sierra Bancorp.		124,849		0.0
	34,508		Simmons First National Corp.		1,031,789		0.1
	3,726	⁽¹⁾	SmartFinancial, Inc.		95,982		0.0
	14,537		South State Corp.		1,253,816		0.1
	4,967	⁽¹⁾	Southern First Bancshares, Inc.		219,541		0.0
	5,382		Southern National Bancorp of Virginia, Inc.		96,015		0.0
	13,925		Southside Bancshares, Inc.		468,994		0.1
	8,255		State Auto Financial Corp.		246,907		0.0
	18,600		State Bank Financial Corp.		621,240		0.1
	6,072		Sterling Bancorp, Inc./MI		81,122		0.0
	9,379		Stewart Information Services Corp.		403,954		0.1
	27,396		Stifel Financial Corp.		1,431,441		0.2
	12,266		Stock Yards Bancorp, Inc.		467,948		0.1
	3,343		Summit Financial Group, Inc.		89,726		0.0
	5,804		Territorial Bancorp, Inc.		179,924		0.0
	38,041	⁽¹⁾	Third Point Reinsurance Ltd.		475,513		0.1
	16,339		Tiptree Financial, Inc.		111,105		0.0
	7,069		Tompkins Financial Corp.		607,086		0.1
	27,679		TowneBank/Portsmouth VA		888,496		0.1
	7,252		TPG RE Finance Trust, Inc.		147,361		0.0
	10,836		Trico Bancshares		405,808		0.1
	10,743	⁽¹⁾	Tristate Capital Holdings, Inc.		280,392		0.0
	8,528	⁽¹⁾	Triumph Bancorp, Inc.		347,516		0.0
	9,755	^(1),(2)	Trupanion, Inc.		376,543		0.0
	49,345		Trustco Bank Corp.		439,171		0.1
	27,070		Trustmark Corp.		883,294		0.1
	18,013		UMB Financial Corp.		1,373,131		0.2
	23,791		Union Bankshares Corp.		924,994		0.1
	39,698		United Bankshares, Inc.		1,445,007		0.2
	29,312		United Community Banks, Inc./GA		898,999		0.1
	31,759		United Community Financial Corp.		349,031		0.0
	23,619		United Financial Bancorp, Inc.		413,805		0.1
	9,344		United Fire Group, Inc.		509,341		0.1
	9,619		United Insurance Holdings Corp.		188,340		0.0
	13,277		Universal Insurance Holdings, Inc.		466,023		0.1
	13,671		Univest Corp. of Pennsylvania		375,953		0.0
	116,928		Valley National Bancorp		1,421,844		0.2
	7,933	⁽¹⁾	Veritex Holdings, Inc.		246,478		0.0
	2,871		Virtus Investment Partners, Inc.		367,344		0.0
	31,668	⁽²⁾	Waddell & Reed Financial, Inc.		569,074		0.1
	11,304		Walker & Dunlop, Inc.		629,068		0.1
	34,254		Washington Federal, Inc.		1,120,106		0.1
	7,936		Washington Trust Bancorp, Inc.		461,082		0.1
	17,592		Waterstone Financial, Inc.		299,944		0.0
	18,527		WesBanco, Inc.		834,456		0.1
	10,176		Westamerica Bancorp.		575,046		0.1
	22,605		Western Asset Mortgage Capital Corp.		235,544		0.0
	11,712		Western New England Bancorp, Inc.		128,832		0.0
	4,879		Westwood Holdings Group, Inc.		290,496		0.0
	46,768		WisdomTree Investments, Inc.		424,653		0.1
	81,748	⁽¹⁾	WMIH Corp.		109,542		0.0
	2,568	⁽¹⁾	World Acceptance Corp.		285,074		0.0
	13,930		WSFS Financial Corp.		742,469		0.1
					157,252,531		17.4

			Health Care: 15.2%
	5,767	⁽¹⁾	AAC Holdings, Inc.		54,037		0.0
	8,812		Abaxis, Inc.		731,484		0.1
	12,969	^(1),(2)	Abeona Therapeutics, Inc.		207,504		0.0
	37,888	^(1),(2)	Acadia Pharmaceuticals, Inc.		578,550		0.1
	10,755	^(1),(2)	Accelerate Diagnostics, Inc.		239,836		0.0
	16,078	⁽¹⁾	Acceleron Pharma, Inc.		780,105		0.1
	35,781	⁽¹⁾	Accuray, Inc.		146,702		0.0
	13,932	^(1),(2)	Achaogen, Inc.		120,651		0.0
	55,819	⁽¹⁾	Achillion Pharmaceuticals, Inc.		157,968		0.0
	11,341	⁽¹⁾	Aclaris Therapeutics, Inc.		226,480		0.0
	17,945	⁽¹⁾	Acorda Therapeutics, Inc.		515,021		0.1
	8,666	^(1),(2)	Adamas Pharmaceuticals, Inc.		223,843		0.0
	3,331	⁽¹⁾	Addus HomeCare Corp.		190,700		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	20,214	⁽¹⁾	Adverum Biotechnologies, Inc.		107,134		0.0
	25,233	^(1),(2)	Aduro Biotech, Inc.		176,631		0.0
	6,991	⁽¹⁾	Aeglea BioTherapeutics, Inc.		73,965		0.0
	14,152	^(1),(2)	Aerie Pharmaceuticals, Inc.		955,968		0.1
	31,244	⁽¹⁾	Agenus, Inc.		70,924		0.0
	16,932	⁽¹⁾	Aimmune Therapeutics, Inc.		455,301		0.1
	6,080	^(1),(2)	Akcea Therapeutics, Inc.		144,157		0.0
	21,035	⁽¹⁾	Akebia Therapeutics, Inc.		209,929		0.0
	34,868	⁽¹⁾	Akorn, Inc.		578,460		0.1
	3,336	⁽¹⁾	Albireo Pharma, Inc.		118,428		0.0
	25,956	^(1),(2)	Alder Biopharmaceuticals, Inc.		410,105		0.1
	8,446	⁽¹⁾	Aldeyra Therapeutics, Inc.		67,146		0.0
	5,288	⁽¹⁾	Allena Pharmaceuticals, Inc.		68,903		0.0
	72,049	⁽¹⁾	Allscripts-Misys Healthcare Solutions, Inc.		864,588		0.1
	14,445	⁽¹⁾	AMAG Pharmaceuticals, Inc.		281,677		0.0
	11,669	⁽¹⁾	Amedisys, Inc.		997,233		0.1
	5,807	⁽¹⁾	American Renal Associates Holdings, Inc.		91,576		0.0
	76,586	⁽¹⁾	Amicus Therapeutics, Inc.		1,196,273		0.1
	19,285	⁽¹⁾	AMN Healthcare Services, Inc.		1,130,101		0.1
	33,871	⁽¹⁾	Amneal Pharmaceuticals, Inc.		555,823		0.1
	15,525	⁽¹⁾	Amphastar Pharmaceuticals, Inc.		236,911		0.0
	39,169	^(1),(2)	Ampio Pharmaceuticals, Inc.		86,172		0.0
	7,534	⁽¹⁾	AnaptysBio, Inc.		535,215		0.1
	15,438	⁽¹⁾	Angiodynamics, Inc.		343,341		0.0
	3,502	⁽¹⁾	ANI Pharmaceuticals, Inc.		233,934		0.0
	6,446	⁽¹⁾	Anika Therapeutics, Inc.		206,272		0.0
	57,803	⁽¹⁾	Antares Pharma, Inc.		149,132		0.0
	14,099	⁽¹⁾	Apellis Pharmaceuticals, Inc.		310,178		0.0
	9,551	⁽¹⁾	Apollo Medical Holdings, Inc.		246,989		0.0
	19,530	⁽¹⁾	Aratana Therapeutics, Inc.		83,002		0.0
	13,404	^(1),(2)	Arbutus Biopharma Corp.		97,849		0.0
	15,121	⁽¹⁾	Ardelyx, Inc.		55,948		0.0
	19,893	⁽¹⁾	Arena Pharmaceuticals, Inc.		867,335		0.1
	33,338	⁽¹⁾	Arqule, Inc.		184,359		0.0
	81,692	⁽¹⁾	Array Biopharma, Inc.		1,370,792		0.2
	33,998	^(1),(2)	Arrowhead Pharmaceuticals, Inc.		462,373		0.1
	7,116	⁽¹⁾	Assembly Biosciences, Inc.		279,018		0.0
	16,022	⁽¹⁾	Atara Biotherapeutics, Inc.		588,808		0.1
	15,782	⁽¹⁾	Athenex, Inc.		294,492		0.0
	43,410	⁽¹⁾	Athersys, Inc.		85,518		0.0
	13,882	⁽¹⁾	AtriCure, Inc.		375,508		0.1
	617		Atrion Corp.		369,830		0.1
	12,385	⁽¹⁾	Audentes Therapeutics, Inc.		473,231		0.1
	37,820	^(1),(2)	AVEO Pharmaceuticals, Inc.		85,473		0.0
	22,020	^(1),(2)	Avid Bioservices, Inc.		86,318		0.0
	12,863	⁽¹⁾	AxoGen, Inc.		646,366		0.1
	15,804	^(1),(2)	Bellicum Pharmaceuticals, Inc.		116,634		0.0
	50,799	^(1),(2)	BioScrip, Inc.		148,841		0.0
	42,157	^(1),(2)	BioCryst Pharmaceuticals, Inc.		241,560		0.0
	12,855	^(1),(2)	Biohaven Pharmaceutical Holding Co. Ltd.		508,030		0.1
	2,195	⁽¹⁾	BioSpecifics Technologies Corp.		98,468		0.0
	12,980	⁽¹⁾	BioTelemetry, Inc.		584,100		0.1
	32,496	^(1),(2)	Biotime, Inc.		66,942		0.0
	17,172	⁽¹⁾	Blueprint Medicines Corp.		1,090,079		0.1
	71,439	⁽¹⁾	Brookdale Senior Living, Inc.		649,381		0.1
	11,591	⁽¹⁾	Calithera Biosciences, Inc.		57,955		0.0
	1,747	^(1),(2)	Calyxt, Inc.		32,616		0.0
	13,529	⁽¹⁾	Cambrex Corp.		707,567		0.1
	11,194	⁽¹⁾	Capital Senior Living Corp.		119,440		0.0
	10,772	⁽¹⁾	Cara Therapeutics, Inc.		206,284		0.0
	13,314	⁽¹⁾	Cardiovascular Systems, Inc.		430,575		0.1
	12,468	⁽¹⁾	CareDx, Inc.		152,608		0.0
	19,373	^(1),(2)	CASI Pharmaceuticals, Inc.		159,440		0.0
	26,929	⁽¹⁾	Castlight Health, Inc.		114,448		0.0
	6,308	⁽¹⁾	Catalyst Biosciences, Inc.		73,614		0.0
	41,149	⁽¹⁾	Catalyst Pharmaceuticals, Inc.		128,385		0.0
	3,314	⁽¹⁾	Celcuity, Inc.		82,253		0.0
	4,581	^(1),(2)	Cellular Biomedicine Group, Inc.		89,559		0.0
	52,929	⁽¹⁾	Cerus Corp.		353,036		0.1
	10,588	⁽¹⁾	ChemoCentryx, Inc.		139,444		0.0
	22,359	⁽¹⁾	Chimerix, Inc.		106,429		0.0
	20,091	^(1),(2)	ChromaDex Corp.		74,538		0.0
	7,586	⁽¹⁾	Civitas Solutions, Inc.		124,410		0.0
	11,485	⁽¹⁾	Clearside Biomedical, Inc.		122,775		0.0
	18,781	⁽¹⁾	Clovis Oncology, Inc.		853,972		0.1
	20,554	^(1),(2)	Codexis, Inc.		295,978		0.0
	8,641	⁽¹⁾	Cohbar, Inc.		56,599		0.0
	18,565	⁽¹⁾	Coherus Biosciences, Inc.		259,910		0.0
	11,635	^(1),(2)	Collegium Pharmaceutical, Inc.		277,495		0.0
	37,476	⁽¹⁾	Community Health Systems, Inc.		124,420		0.0
	5,608	⁽²⁾	Computer Programs & Systems, Inc.		184,503		0.0
	9,069	⁽¹⁾	Concert Pharmaceuticals, Inc.		152,631		0.0
	11,084		Conmed Corp.		811,349		0.1
	21,836	^(1),(2)	Corbus Pharmaceuticals Holdings, Inc.		110,272		0.0
	38,850	⁽¹⁾	Corcept Therapeutics, Inc.		610,722		0.1
	11,691	^(1),(2)	Corium International, Inc.		93,645		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	4,054	⁽¹⁾	Corvel Corp.		218,916		0.0
	5,808	⁽¹⁾	Corvus Pharmaceuticals, Inc.		63,772		0.0
	15,542	⁽¹⁾	Cotiviti Holdings, Inc.		685,868		0.1
	16,063	⁽¹⁾	Cross Country Healthcare, Inc.		180,709		0.0
	13,925	⁽¹⁾	CryoLife, Inc.		387,811		0.1
	9,269	^(1),(2)	CryoPort, Inc.		146,265		0.0
	18,717	^(1),(2)	CTI BioPharma Corp.		93,211		0.0
	6,718	⁽¹⁾	Cue Biopharma, Inc.		79,675		0.0
	5,293	⁽¹⁾	Cutera, Inc.		213,308		0.0
	22,511	⁽¹⁾	Cymabay Therapeutics, Inc.		302,098		0.0
	20,041	⁽¹⁾	Cytokinetics, Inc.		166,340		0.0
	14,956	^(1),(2)	CytomX Therapeutics, Inc.		341,894		0.0
	9,937	⁽¹⁾	CytoSorbents Corp.		113,282		0.0
	3,302	^(1),(2)	Deciphera Pharmaceuticals, Inc.		129,934		0.0
	7,469	^(1),(2)	Denali Therapeutics, Inc.		113,902		0.0
	23,992	⁽¹⁾	Depomed, Inc.		160,027		0.0
	15,434	⁽¹⁾	Dermira, Inc.		141,993		0.0
	16,987	⁽¹⁾	Dicerna Pharmaceuticals, Inc.		208,091		0.0
	22,172	⁽¹⁾	Diplomat Pharmacy, Inc.		566,716		0.1
	4,569	^(1),(2)	Dova Pharmaceuticals, Inc.		136,704		0.0
	61,156	⁽¹⁾	Durect Corp.		95,403		0.0
	24,899	^(1),(2)	Dynavax Technologies Corp.		379,710		0.1
	4,030	^(1),(2)	Eagle Pharmaceuticals, Inc./DE		304,910		0.0
	17,849	^(1),(2)	Editas Medicine, Inc.		639,530		0.1
	8,243	⁽¹⁾	Eloxx Pharmaceuticals, Inc.		140,708		0.0
	16,667	⁽¹⁾	Emergent Biosolutions, Inc.		841,517		0.1
	6,657	⁽¹⁾	Enanta Pharmaceuticals, Inc.		771,546		0.1
	87,084	⁽¹⁾	Endo International PLC		821,202		0.1
	25,368	⁽¹⁾	Endocyte, Inc.		350,078		0.1
	34,493	⁽¹⁾	Endologix, Inc.		195,230		0.0
	19,970		Ensign Group, Inc.		715,325		0.1
	20,254	⁽¹⁾	Enzo Biochem, Inc.		105,118		0.0
	21,511	⁽¹⁾	Epizyme, Inc.		291,474		0.0
	8,855	^(1),(2)	Esperion Therapeutics, Inc.		347,027		0.1
	26,344	^(1),(2)	Evolent Health, Inc.		554,541		0.1
	2,237	^(1),(2)	Evolus, Inc.		62,614		0.0
	20,350	^(1),(2)	Fate Therapeutics, Inc.		230,769		0.0
	6,411	⁽¹⁾	Fennec Pharmaceuticals, Inc.		66,931		0.0
	29,400	⁽¹⁾	FibroGen, Inc.		1,840,440		0.2
	14,130	⁽¹⁾	FivePrime Therapeutics, Inc.		223,395		0.0
	14,280	^(1),(2)	Flexion Therapeutics, Inc.		369,138		0.1
	15,901	⁽¹⁾	Fluidigm Corp.		94,770		0.0
	2,729	⁽¹⁾	FONAR Corp.		72,455		0.0
	14,506	⁽¹⁾	Fortress Biotech, Inc.		43,228		0.0
	6,077	^(1),(2)	Foundation Medicine, Inc.		830,726		0.1
	8,029	⁽¹⁾	G1 Therapeutics, Inc.		348,940		0.1
	26,148	⁽¹⁾	Genesis Healthcare, Inc.		59,879		0.0
	19,725	⁽¹⁾	GenMark Diagnostics, Inc.		125,845		0.0
	8,580	⁽¹⁾	Genomic Health, Inc.		432,432		0.1
	65,206	^(1),(2)	Geron Corp.		223,657		0.0
	12,946	^(1),(2)	Glaukos Corp.		526,125		0.1
	19,626	^(1),(2)	Global Blood Therapeutics, Inc.		887,095		0.1
	28,868	⁽¹⁾	Globus Medical, Inc.		1,456,679		0.2
	12,684	⁽¹⁾	GlycoMimetics, Inc.		204,593		0.0
	21,528	⁽¹⁾	Haemonetics Corp.		1,930,631		0.2
	49,834	^(1),(2)	Halozyme Therapeutics, Inc.		840,700		0.1
	18,980	⁽¹⁾	Halyard Health, Inc.		1,086,605		0.1
	14,990	⁽¹⁾	Harvard Bioscience, Inc.		80,196		0.0
	21,246	⁽¹⁾	HealthEquity, Inc.		1,595,575		0.2
	11,573		HealthStream, Inc.		316,059		0.0
	6,498	^(1),(2)	Helius Medical Technologies, Inc.		61,861		0.0
	24,993	⁽¹⁾	Heron Therapeutics, Inc.		970,978		0.1
	2,761	⁽¹⁾	Heska Corp.		286,564		0.0
	34,097	⁽¹⁾	HMS Holdings Corp.		737,177		0.1
	3,974	^(1),(2)	Homology Medicines, Inc.		81,070		0.0
	67,236	⁽¹⁾	Horizon Pharma PLC		1,113,428		0.1
	62,083	⁽¹⁾	Idera Pharmaceuticals, Inc.		81,950		0.0
	13,415	^(1),(2)	Immune Design Corp.		61,038		0.0
	50,291	⁽¹⁾	Immunogen, Inc.		489,331		0.1
	52,025	^(1),(2)	Immunomedics, Inc.		1,231,432		0.1
	7,474	⁽¹⁾	Innovate Biopharmaceuticals, Inc.		176,162		0.0
	29,931	^(1),(2)	Innoviva, Inc.		413,048		0.1
	7,079	⁽¹⁾	Inogen, Inc.		1,319,030		0.2
	29,229	^(1),(2)	Inovalon Holdings, Inc.		290,098		0.0
	31,916	⁽¹⁾	Inovio Pharmaceuticals, Inc.		125,111		0.0
	31,510	⁽¹⁾	Insmed, Inc.		745,211		0.1
	2,580	⁽¹⁾	Inspire Medical Systems, Inc.		92,003		0.0
	12,036	⁽¹⁾	Insys Therapeutics, Inc.		87,141		0.0
	12,751	⁽¹⁾	Integer Holdings Corp.		824,352		0.1
	12,809	^(1),(2)	Intellia Therapeutics, Inc.		350,454		0.1
	8,461	^(1),(2)	Intercept Pharmaceuticals, Inc.		709,963		0.1
	11,950	⁽¹⁾	Intersect ENT, Inc.		447,527		0.1
	18,447	⁽¹⁾	Intra-Cellular Therapies, Inc.		325,958		0.0
	26,130	^(1),(2)	Intrexon Corp.		364,252		0.1
	2,208	⁽¹⁾	IntriCon Corp.		88,982		0.0
	14,004		Invacare Corp.		260,474		0.0
	24,424	^(1),(2)	Invitae Corp.		179,516		0.0
	32,925	⁽¹⁾	Iovance Biotherapeutics, Inc.		421,440		0.1
	8,941	⁽¹⁾	iRhythm Technologies, Inc.		725,383		0.1
	55,769	^(1),(2)	Ironwood Pharmaceuticals, Inc.		1,066,303		0.1
	5,996	⁽¹⁾	Jounce Therapeutics, Inc.		45,929		0.0
	16,891	⁽¹⁾	K2M Group Holdings, Inc.		380,047		0.1
	25,254	⁽¹⁾	Kadmon Holdings, Inc.		100,763		0.0
	5,623	^(1),(2)	Kala Pharmaceuticals, Inc.		77,204		0.0
	18,661	⁽¹⁾	Karyopharm Therapeutics, Inc.		317,050		0.0
	38,137	^(1),(2)	Keryx Biopharmaceuticals, Inc.		143,395		0.0
	11,383	⁽¹⁾	Kindred Biosciences, Inc.		121,229		0.0
	35,701	⁽¹⁾	Kindred Healthcare, Inc.		321,309		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	10,290	^(1),(2)	Kura Oncology, Inc.		187,278		0.0
	8,611	^(1),(2)	La Jolla Pharmaceutical Co.		251,183		0.0
	11,736	^(1),(2)	Lannett Co., Inc.		159,610		0.0
	14,995	⁽¹⁾	Lantheus Holdings, Inc.		218,177		0.0
	6,503		LeMaitre Vascular, Inc.		217,720		0.0
	17,314	^(1),(2)	Lexicon Pharmaceuticals, Inc.		207,768		0.0
	11,818	⁽¹⁾	LHC Group, Inc.		1,011,503		0.1
	13,036	⁽¹⁾	LifePoint Health, Inc.		636,157		0.1
	8,429	⁽¹⁾	Ligand Pharmaceuticals, Inc.		1,746,236		0.2
	19,481	⁽¹⁾	LivaNova PLC		1,944,593		0.2
	10,491	⁽¹⁾	Loxo Oncology, Inc.		1,819,979		0.2
	16,830		Luminex Corp.		496,990		0.1
	15,570	⁽¹⁾	MacroGenics, Inc.		321,521		0.0
	2,294	⁽¹⁾	Madrigal Pharmaceuticals, Inc.		641,609		0.1
	10,046	⁽¹⁾	Magellan Health, Inc.		963,914		0.1
	31,222	^(1),(2)	Mallinckrodt PLC - W/I		582,603		0.1
	53,629	^(1),(2)	MannKind Corp.		101,895		0.0
	13,747	⁽¹⁾	Marinus Pharmaceuticals, Inc.		97,191		0.0
	27,673	⁽¹⁾	Medicines Co.		1,015,599		0.1
	15,925	⁽¹⁾	MediciNova, Inc.		126,763		0.0
	22,995	⁽¹⁾	Medidata Solutions, Inc.		1,852,477		0.2
	4,543	⁽¹⁾	Medpace Holdings, Inc.		195,349		0.0
	7,954	⁽¹⁾	Melinta Therapeutics, Inc.		50,508		0.0
	18,474		Meridian Bioscience, Inc.		293,737		0.0
	19,485	⁽¹⁾	Merit Medical Systems, Inc.		997,632		0.1
	5,666	⁽¹⁾	Mersana Therapeutics, Inc.		101,195		0.0
	42,520	^(1),(2)	MiMedx Group, Inc.		271,703		0.0
	13,586	⁽¹⁾	Minerva Neurosciences, Inc.		112,085		0.0
	10,551	⁽¹⁾	Miragen Therapeutics, Inc.		67,632		0.0
	7,029	⁽¹⁾	Mirati Therapeutics, Inc.		346,530		0.1
	31,465	⁽¹⁾	Momenta Pharmaceuticals, Inc.		643,459		0.1
	11,873	⁽¹⁾	MyoKardia, Inc.		589,494		0.1
	26,630	⁽¹⁾	Myriad Genetics, Inc.		995,163		0.1
	8,477	⁽¹⁾	NanoString Technologies, Inc.		115,965		0.0
	13,481	^(1),(2)	NantKwest, Inc.		41,252		0.0
	12,936	⁽¹⁾	Natera, Inc.		243,456		0.0
	5,244		National Healthcare Corp.		369,073		0.1
	4,341		National Research Corp.		162,353		0.0
	12,501	⁽¹⁾	Natus Medical, Inc.		431,285		0.1
	20,324	⁽¹⁾	Neogen Corp.		1,629,782		0.2
	24,027	^(1),(2)	NeoGenomics, Inc.		314,994		0.0
	10,790	⁽¹⁾	Neos Therapeutics, Inc.		67,438		0.0
	11,603	⁽¹⁾	Nevro Corp.		926,500		0.1
	12,626	⁽¹⁾	NewLink Genetics Corp.		60,100		0.0
	152,002	^(1),(2)	Novavax, Inc.		203,683		0.0
	27,930	⁽¹⁾	Novocure Ltd.		874,209		0.1
	20,777	⁽¹⁾	NuVasive, Inc.		1,082,897		0.1
	5,051	⁽¹⁾	Nuvectra Corp.		103,697		0.0
	25,939	⁽¹⁾	NxStage Medical, Inc.		723,698		0.1
	14,156	^(1),(2)	Ocular Therapeutix, Inc.		95,553		0.0
	2,925	⁽¹⁾	Odonate Therapeutics, Inc.		64,584		0.0
	18,729	^(1),(2)	Omeros Corp.		339,744		0.0
	14,896	⁽¹⁾	Omnicell, Inc.		781,295		0.1
	124,610	^(1),(2)	Opko Health, Inc.		585,667		0.1
	5,777	⁽¹⁾	Optinose, Inc.		161,640		0.0
	23,507	⁽¹⁾	OraSure Technologies, Inc.		387,160		0.1
	39,127	^(1),(2)	Organovo Holdings, Inc.		54,778		0.0
	7,348	⁽¹⁾	Orthofix International NV		417,513		0.1
	2,823	⁽¹⁾	OrthoPediatrics Corp.		75,205		0.0
	7,825	⁽¹⁾	Ovid therapeutics, Inc.		61,035		0.0
	24,398		Owens & Minor, Inc.		407,691		0.1
	10,572	^(1),(2)	Oxford Immunotec Global PLC		136,273		0.0
	46,997	^(1),(2)	Pacific Biosciences of California, Inc.		166,839		0.0
	16,365	⁽¹⁾	Pacira Pharmaceuticals, Inc.		524,498		0.1
	82,615	⁽¹⁾	Palatin Technologies, Inc.		80,120		0.0
	13,152	^(1),(2)	Paratek Pharmaceuticals, Inc.		134,150		0.0
	28,568	⁽²⁾	Patterson Cos., Inc.		647,637		0.1
	64,117	⁽¹⁾	PDL BioPharma, Inc.		150,034		0.0
	3,661	^(1),(2)	PetIQ, Inc.		98,334		0.0
	12,888	⁽¹⁾	Pfenex, Inc.		69,724		0.0
	8,136		Phibro Animal Health Corp.		374,663		0.1
	22,142	⁽¹⁾	Pieris Pharmaceuticals, Inc.		112,260		0.0
	3,296	^(1),(2)	PolarityTE, Inc.		77,588		0.0
	25,470	⁽¹⁾	Portola Pharmaceuticals, Inc.		962,002		0.1
	21,118	⁽¹⁾	Prestige Brands Holdings, Inc.		810,509		0.1
	29,964	^(1),(2)	Progenics Pharmaceuticals, Inc.		240,911		0.0
	16,988	^(1),(2)	Prothena Corp. PLC		247,685		0.0
	4,863	⁽¹⁾	Providence Service Corp.		381,989		0.1
	17,919	⁽¹⁾	PTC Therapeutics, Inc.		604,408		0.1
	4,221	^(1),(2)	Pulse Biosciences, Inc.		63,906		0.0
	11,903	⁽¹⁾	Puma Biotechnology, Inc.		704,062		0.1
	22,086	⁽¹⁾	Quality Systems, Inc.		430,677		0.1
	12,637	⁽¹⁾	Quidel Corp.		840,361		0.1
	13,612	⁽¹⁾	Quorum Health Corp.		68,060		0.0
	42,352	⁽¹⁾	R1 RCM, Inc.		367,615		0.1
	5,580	⁽¹⁾	Ra Pharmaceuticals, Inc.		55,521		0.0
	16,566	^(1),(2)	Radius Health, Inc.		488,200		0.1
	16,070	⁽¹⁾	RadNet, Inc.		241,050		0.0
	6,096	^(1),(2)	Reata Pharmaceuticals, Inc.		213,177		0.0
	7,582	⁽¹⁾	Recro Pharma, Inc.		38,062		0.0
	11,536	⁽¹⁾	REGENXBIO, Inc.		827,708		0.1
	15,974	^(1),(2)	Repligen Corp.		751,417		0.1
	16,043	⁽¹⁾	Retrophin, Inc.		437,332		0.1
	12,433	⁽¹⁾	Revance Therapeutics, Inc.		341,286		0.0
	4,828	^(1),(2)	Rhythm Pharmaceuticals, Inc.		150,923		0.0
	68,668	⁽¹⁾	Rigel Pharmaceuticals, Inc.		194,330		0.0
	7,915	^(1),(2)	Rocket Pharmaceuticals, Inc.		155,371		0.0
	20,825	^(1),(2)	Rockwell Medical, Inc.		102,667		0.0
	27,758	⁽¹⁾	RTI Surgical, Inc.		127,687		0.0
	39,807	^(1),(2)	Sangamo Biosciences, Inc.		565,259		0.1
	9,404	⁽¹⁾	Savara, Inc.		106,453		0.0
	45,038	⁽¹⁾	Select Medical Holdings Corp.		817,440		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	8,170	^(1),(2)	Selecta Biosciences, Inc.		108,253		0.0
	23,993	^(1),(2)	Senseonics Holdings, Inc.		98,611		0.0
	10,115	⁽¹⁾	Seres Therapeutics, Inc.		86,989		0.0
	6,080	^(1),(2)	Sienna Biopharmaceuticals, Inc.		92,355		0.0
	8,864	⁽¹⁾	Sientra, Inc.		172,937		0.0
	18,894	^(1),(2)	SIGA Technologies, Inc.		112,230		0.0
	3,655		Simulations Plus, Inc.		81,324		0.0
	3,496	^(1),(2)	Solid Biosciences, Inc.		124,562		0.0
	33,758	^(1),(2)	Sorrento Therapeutics, Inc.		243,058		0.0
	12,343	^(1),(2)	Spark Therapeutics, Inc.		1,021,507		0.1
	38,895	⁽¹⁾	Spectrum Pharmaceuticals, Inc.		815,239		0.1
	5,371	^(1),(2)	Spring Bank Pharmaceuticals, Inc.		63,646		0.0
	17,725	^(1),(2)	Staar Surgical Co.		549,475		0.1
	11,069	^(1),(2)	Stemline Therapeutics, Inc.		177,657		0.0
	19,975	⁽¹⁾	Supernus Pharmaceuticals, Inc.		1,195,504		0.1
	7,405	^(1),(2)	Surgery Partners, Inc.		110,335		0.0
	5,815	⁽¹⁾	SurModics, Inc.		320,988		0.0
	7,330	⁽¹⁾	Syndax Pharmaceuticals, Inc.		51,457		0.0
	22,483	⁽¹⁾	Syneos Health, Inc.		1,054,453		0.1
	104,372	^(1),(2)	Synergy Pharmaceuticals, Inc.		181,607		0.0
	7,207	⁽¹⁾	Synlogic, Inc.		70,845		0.0
	9,372	⁽¹⁾	Syros Pharmaceuticals, Inc.		95,688		0.0
	10,039	⁽¹⁾	T2 Biosystems, Inc.		77,702		0.0
	6,607	⁽¹⁾	Tabula Rasa HealthCare, Inc.		421,725		0.1
	6,534	⁽¹⁾	Tactile Systems Technology, Inc.		339,768		0.0
	17,542	⁽¹⁾	Tandem Diabetes Care, Inc.		386,275		0.1
	24,304	^(1),(2)	Teladoc, Inc.		1,410,847		0.2
	17,484	^(1),(2)	Teligent, Inc.		60,495		0.0
	33,500	⁽¹⁾	Tenet Healthcare Corp.		1,124,595		0.1
	20,583	⁽¹⁾	Tetraphase Pharmaceuticals, Inc.		73,481		0.0
	23,571	^(1),(2)	TG Therapeutics, Inc.		309,959		0.0
	67,784	^(1),(2)	TherapeuticsMD, Inc.		422,972		0.1
	17,575	^(1),(2)	Theravance Biopharma, Inc.		398,601		0.1
	15,722	^(1),(2)	Tivity Health, Inc.		553,414		0.1
	8,527	⁽¹⁾	Tocagen, Inc.		79,642		0.0
	60,590	^(1),(2)	TransEnterix, Inc.		264,172		0.0
	9,412	⁽¹⁾	Triple-S Management Corp.		367,633		0.1
	19,380	⁽¹⁾	Tyme Technologies, Inc.		61,241		0.0
	18,531	⁽¹⁾	Ultragenyx Pharmaceutical, Inc.		1,424,478		0.2
	5,314		US Physical Therapy, Inc.		510,144		0.1
	821		Utah Medical Products, Inc.		90,433		0.0
	20,594	^(1),(2)	Vanda Pharmaceuticals, Inc.		392,316		0.1
	15,645	⁽¹⁾	Varex Imaging Corp.		580,273		0.1
	11,713	⁽¹⁾	Veracyte, Inc.		109,399		0.0
	20,274	⁽¹⁾	Verastem, Inc.		139,485		0.0
	13,691	⁽¹⁾	Vericel Corp.		132,803		0.0
	19,006	^(1),(2)	ViewRay, Inc.		131,522		0.0
	16,931	⁽¹⁾	Viking Therapeutics, Inc.		160,675		0.0
	12,764	^(1),(2)	Vital Therapies, Inc.		87,433		0.0
	12,243	⁽¹⁾	Vocera Communications, Inc.		365,943		0.1
	8,740	⁽¹⁾	Voyager Therapeutics, Inc.		170,780		0.0
	6,873	^(1),(2)	WaVe Life Sciences Ltd.		262,892		0.0
	42,521	^(1),(2)	Wright Medical Group NV		1,103,845		0.1
	17,964	⁽¹⁾	Xencor, Inc.		664,848		0.1
	3,276	⁽¹⁾	XOMA Corp.		68,403		0.0
	10,130	⁽¹⁾	Zafgen, Inc.		103,630		0.0
	55,621	^(1),(2)	ZIOPHARM Oncology, Inc.		167,975		0.0
	14,204	^(1),(2)	Zogenix, Inc.		627,817		0.1
					137,111,973		15.2

			Industrial: 0.1%
	28,280	⁽²⁾	Healthcare Services Group, Inc.		1,221,413		0.1

			Industrials: 14.4%
	16,648		AAON, Inc.		553,546		0.1
	12,909		AAR Corp.		600,139		0.1
	24,015		ABM Industries, Inc.		700,758		0.1
	25,362	⁽¹⁾	Acacia Research Corp.		105,252		0.0
	43,593		ACCO Brands Corp.		603,763		0.1
	23,104		Actuant Corp.		678,102		0.1
	27,301	⁽¹⁾	Advanced Disposal Services, Inc.		676,519		0.1
	16,638		Advanced Drainage Systems, Inc.		475,015		0.1
	13,736	⁽¹⁾	Aegion Corp.		353,702		0.0
	27,369	⁽¹⁾	Aerojet Rocketdyne Holdings, Inc.		807,112		0.1
	8,531	⁽¹⁾	Aerovironment, Inc.		609,369		0.1
	24,197	⁽¹⁾	Air Transport Services Group, Inc.		546,610		0.1
	19,403		Aircastle Ltd.		397,762		0.0
	3,885		Alamo Group, Inc.		351,049		0.0
	11,856		Albany International Corp.		713,138		0.1
	5,268		Allegiant Travel Co.		731,989		0.1
	3,289		Allied Motion Technologies, Inc.		157,477		0.0
	11,740		Altra Industrial Motion Corp.		505,994		0.1
	8,139	⁽¹⁾	Ameresco, Inc.		97,668		0.0
	2,826	⁽²⁾	American Railcar Industries, Inc.		111,570		0.0
	5,538	⁽¹⁾	American Woodmark Corp.		507,004		0.1
	11,031		Apogee Enterprises, Inc.		531,363		0.1
	15,341		Applied Industrial Technologies, Inc.		1,076,171		0.1
	10,487		ArcBest Corp.		479,256		0.1
	6,250		Argan, Inc.		255,937		0.0
	10,182	⁽¹⁾	Armstrong Flooring, Inc.		142,955		0.0
	20,103	⁽¹⁾	ASGN, Inc.		1,571,854		0.2
	8,711		Astec Industries, Inc.		520,918		0.1
	8,796	⁽¹⁾	Astronics Corp.		316,392		0.0
	14,129	⁽¹⁾	Atkore International Group, Inc.		293,459		0.0
	9,285	⁽¹⁾	Atlas Air Worldwide Holdings, Inc.		665,735		0.1
	28,970	⁽¹⁾	Avis Budget Group, Inc.		941,525		0.1
	21,062	⁽¹⁾	Axon Enterprise, Inc.		1,330,697		0.2
	11,003		AZZ, Inc.		478,080		0.1

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	25,626	^(1),(2)	Babcock & Wilcox Enterprises, Inc.		60,990		0.0
	19,999		Barnes Group, Inc.		1,177,941		0.1
	3,288		Barrett Business Services, Inc.		317,522		0.0
	27,216	⁽¹⁾	Beacon Roofing Supply, Inc.		1,159,946		0.1
	5,633	^(1),(2)	Blue Bird Corp.		125,898		0.0
	3,354	⁽¹⁾	BlueLinx Holdings, Inc.		125,876		0.0
	27,061	⁽¹⁾	BMC Stock Holdings, Inc.		564,222		0.1
	18,466		Brady Corp.		711,864		0.1
	16,977		Briggs & Stratton Corp.		298,965		0.0
	19,433		Brink's Co.		1,549,782		0.2
	44,289	⁽¹⁾	Builders FirstSource, Inc.		810,046		0.1
	8,923	⁽²⁾	Caesarstone Ltd.		134,737		0.0
	7,798	⁽¹⁾	CAI International, Inc.		181,226		0.0
	16,725	⁽¹⁾	Casella Waste Systems, Inc.		428,327		0.1
	22,639	⁽¹⁾	CBIZ, Inc.		520,697		0.1
	15,660		Ceco Environmental Corp.		96,152		0.0
	12,212	⁽¹⁾	Chart Industries, Inc.		753,236		0.1
	9,882	⁽¹⁾	Cimpress NV		1,432,495		0.2
	6,674		CIRCOR International, Inc.		246,671		0.0
	9,677		Columbus McKinnon Corp.		419,595		0.1
	15,186		Comfort Systems USA, Inc.		695,519		0.1
	11,545	⁽¹⁾	Commercial Vehicle Group, Inc.		84,740		0.0
	15,660	⁽¹⁾	Continental Building Products, Inc.		494,073		0.1
	19,931		Costamare, Inc.		159,049		0.0
	46,919		Covanta Holding Corp.		774,164		0.1
	5,396	⁽¹⁾	Covenant Transportation Group, Inc.		169,974		0.0
	2,852		CRA International, Inc.		145,138		0.0
	7,253	⁽¹⁾	CSW Industrials, Inc.		383,321		0.0
	10,156		Cubic Corp.		652,015		0.1
	15,103	^(1),(2)	Daseke, Inc.		149,973		0.0
	18,757		Deluxe Corp.		1,241,901		0.1
	5,677		DMC Global, Inc.		254,897		0.0
	9,712		Douglas Dynamics, Inc.		466,176		0.1
	3,872	⁽¹⁾	Ducommun, Inc.		128,124		0.0
	6,562	⁽¹⁾	DXP Enterprises, Inc.		250,668		0.0
	11,969	^(1),(2)	Dycom Industries, Inc.		1,131,190		0.1
	16,909	^(1),(2)	Eagle Bulk Shipping, Inc.		91,985		0.0
	3,071		Eastern Co/The		86,142		0.0
	11,272	⁽¹⁾	Echo Global Logistics, Inc.		329,706		0.0
	23,433		EMCOR Group, Inc.		1,785,126		0.2
	8,607		Encore Wire Corp.		408,402		0.1
	9,298	^(1),(2)	Energous Corp.		137,889		0.0
	15,355	^(1),(2)	Energy Recovery, Inc.		124,068		0.0
	16,679		EnerSys		1,244,921		0.1
	8,082	⁽¹⁾	Engility Holdings, Inc.		247,632		0.0
	13,191		Ennis, Inc.		268,437		0.0
	33,377	⁽¹⁾	Enphase Energy, Inc.		224,627		0.0
	8,515		EnPro Industries, Inc.		595,624		0.1
	1,621		EnviroStar, Inc.		65,326		0.0
	10,562		ESCO Technologies, Inc.		609,427		0.1
	14,579		Essendant, Inc.		192,734		0.0
	10,297	⁽¹⁾	Esterline Technologies Corp.		759,919		0.1
	26,512	⁽¹⁾	Evoqua Water Technologies Corp.		543,496		0.1
	20,818		Exponent, Inc.		1,005,509		0.1
	24,007		Federal Signal Corp.		559,123		0.1
	5,520		Forrester Research, Inc.		231,564		0.0
	11,947		Forward Air Corp.		705,829		0.1
	6,801	⁽¹⁾	Foundation Building Materials, Inc.		104,599		0.0
	3,431	⁽¹⁾	Franklin Covey Co.		84,231		0.0
	18,948		Franklin Electric Co., Inc.		854,555		0.1
	5,479		Freightcar America, Inc.		91,992		0.0
	15,148	⁽¹⁾	FTI Consulting, Inc.		916,151		0.1
	15,296		GATX Corp.		1,135,422		0.1
	24,111	⁽¹⁾	Generac Holdings, Inc.		1,247,262		0.1
	12,546	⁽¹⁾	Gibraltar Industries, Inc.		470,475		0.1
	9,409		Global Brass & Copper Holdings, Inc.		294,972		0.0
	12,149	⁽¹⁾	GMS, Inc.		329,116		0.0
	8,233		Gorman-Rupp Co.		288,155		0.0
	3,826	⁽¹⁾	GP Strategies Corp.		67,338		0.0
	5,766		Graham Corp.		148,820		0.0
	17,779		Granite Construction, Inc.		989,579		0.1
	28,777	⁽¹⁾	Great Lakes Dredge & Dock Corp.		151,079		0.0
	11,802		Greenbrier Cos., Inc.		622,556		0.1
	12,747		Griffon Corp.		226,897		0.0
	12,723		H&E Equipment Services, Inc.		478,512		0.1
	32,172	⁽¹⁾	Harsco Corp.		711,001		0.1
	20,181		Hawaiian Holdings, Inc.		725,507		0.1
	20,115	^(1),(2)	HC2 Holdings, Inc.		117,673		0.0
	19,577		Heartland Express, Inc.		363,153		0.0
	7,956		Heidrick & Struggles International, Inc.		278,460		0.0
	9,742	⁽¹⁾	Herc Holdings, Inc.		548,864		0.1
	4,725	⁽¹⁾	Heritage-Crystal Clean, Inc.		94,973		0.0
	23,815		Herman Miller, Inc.		807,329		0.1
	22,328	⁽¹⁾	Hertz Global Holdings, Inc.		342,512		0.0
	18,616	⁽¹⁾	Hill International, Inc.		109,834		0.0
	25,155		Hillenbrand, Inc.		1,186,058		0.1
	17,473		HNI Corp.		649,996		0.1
	12,916	⁽¹⁾	HUB Group, Inc.		643,217		0.1
	8,997	⁽¹⁾	Huron Consulting Group, Inc.		367,977		0.0
	4,173		Hyster-Yale Materials Handling, Inc.		268,115		0.0
	3,750	⁽¹⁾	Hyster-Yale Materials Handling, Inc. - B shares		240,938		0.0
	7,389		ICF International, Inc.		524,988		0.1
	23,727	⁽¹⁾	Innerworkings, Inc.		206,188		0.0
	15,025		Insperity, Inc.		1,431,131		0.2
	7,826		Insteel Industries, Inc.		261,388		0.0
	23,916		Interface, Inc.		548,872		0.1
	27,578	⁽¹⁾	JELD-WEN Holding, Inc.		788,455		0.1
	12,583		John Bean Technologies Corp.		1,118,629		0.1
	4,701		Kadant, Inc.		452,001		0.1
	11,315		Kaman Corp.		788,542		0.1
	55,379		KBR, Inc.		992,392		0.1
	12,536		Kelly Services, Inc.		281,433		0.0
	31,793		Kennametal, Inc.		1,141,369		0.1
	19,478	^(1),(2)	Keyw Holding Corp.		170,238		0.0
	10,229		Kforce, Inc.		350,855		0.0
	18,131		Kimball International, Inc.		292,997		0.0
	20,181	⁽¹⁾	KLX, Inc.		1,451,014		0.2
	20,622		Knoll, Inc.		429,144		0.1
	21,907		Korn/Ferry International		1,356,701		0.2

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	36,243	^(1),(2)	Kratos Defense & Security Solutions, Inc.		417,157		0.1
	3,868	⁽¹⁾	LB Foster Co.		88,771		0.0
	4,132		Lindsay Corp.		400,763		0.0
	13,819		LSC Communications, Inc.		216,406		0.0
	7,353	⁽¹⁾	Lydall, Inc.		320,958		0.0
	6,363	⁽¹⁾	Manitex International, Inc.		79,410		0.0
	13,615	⁽¹⁾	Manitowoc Co., Inc./The		352,084		0.0
	16,562		Marten Transport Ltd.		388,379		0.0
	11,231	⁽¹⁾	Masonite International Corp.		806,947		0.1
	26,470	⁽¹⁾	Mastec, Inc.		1,343,353		0.2
	17,300		Matson, Inc.		663,974		0.1
	12,878		Matthews International Corp.		757,226		0.1
	22,064	⁽²⁾	Maxar Technologies Ltd.		1,114,673		0.1
	9,786		McGrath Rentcorp		619,160		0.1
	18,793	⁽¹⁾	Mercury Systems, Inc.		715,262		0.1
	33,436	⁽¹⁾	Meritor, Inc.		687,779		0.1
	26,125	⁽¹⁾	Milacron Holdings Corp.		494,546		0.1
	5,976		Miller Industries, Inc.		152,687		0.0
	8,453	⁽¹⁾	Mistras Group, Inc.		159,593		0.0
	17,778		Mobile Mini, Inc.		833,788		0.1
	12,856		Moog, Inc.		1,002,254		0.1
	35,382	⁽¹⁾	MRC Global, Inc.		766,728		0.1
	13,290		MSA Safety, Inc.		1,280,359		0.1
	22,856		Mueller Industries, Inc.		674,481		0.1
	61,536		Mueller Water Products, Inc.		721,202		0.1
	5,800		Multi-Color Corp.		374,970		0.0
	6,929	⁽¹⁾	MYR Group, Inc.		245,702		0.0
	2,104		National Presto Industries, Inc.		260,896		0.0
	19,203	⁽¹⁾	Navigant Consulting, Inc.		425,154		0.1
	19,896	⁽¹⁾	Navistar International Corp.		810,165		0.1
	16,067	⁽¹⁾	NCI Building Systems, Inc.		337,407		0.0
	12,814	⁽¹⁾	Nexeo Solutions, Inc.		116,992		0.0
	12,222		NN, Inc.		230,996		0.0
	4,603	⁽¹⁾	Northwest Pipe Co.		89,160		0.0
	41,748	^(1),(2)	NOW, Inc.		556,501		0.1
	3,314	^(1),(2)	NV5 Global, Inc.		229,660		0.0
	1,401		Omega Flex, Inc.		110,833		0.0
	14,328	⁽¹⁾	Orion Group Holdings, Inc.		118,349		0.0
	4,516		Park-Ohio Holdings Corp.		168,447		0.0
	9,713	⁽¹⁾	Patrick Industries, Inc.		552,184		0.1
	20,055	⁽¹⁾	PGT Innovations, Inc.		418,147		0.1
	69,747		Pitney Bowes, Inc.		597,732		0.1
	95,031	^(1),(2)	Plug Power, Inc.		191,963		0.0
	4,078		Powell Industries, Inc.		142,037		0.0
	1,207		Preformed Line Products Co.		107,157		0.0
	16,091		Primoris Services Corp.		438,158		0.1
	10,320	⁽¹⁾	Proto Labs, Inc.		1,227,564		0.1
	13,034		Quad/Graphics, Inc.		271,498		0.0
	15,583		Quanex Building Products Corp.		279,715		0.0
	18,540	⁽¹⁾	Radiant Logistics, Inc.		72,491		0.0
	14,963		Raven Industries, Inc.		575,327		0.1
	9,392	⁽¹⁾	RBC Bearings, Inc.		1,209,784		0.1
	14,881		Resources Connection, Inc.		251,489		0.0
	10,550	⁽²⁾	REV Group, Inc.		179,456		0.0
	41,930	⁽¹⁾	Rexnord Corp.		1,218,486		0.1
	27,891		RR Donnelley & Sons Co.		160,652		0.0
	13,565	⁽¹⁾	Rush Enterprises, Inc. - Class A		588,450		0.1
	20,992	⁽¹⁾	Safe Bulkers, Inc.		71,373		0.0
	10,393	⁽¹⁾	Saia, Inc.		840,274		0.1
	25,660		Scorpio Bulkers, Inc.		182,186		0.0
	16,130		Simpson Manufacturing Co., Inc.		1,003,125		0.1
	15,260	^(1),(2)	SiteOne Landscape Supply, Inc.		1,281,382		0.1
	20,536		Skywest, Inc.		1,065,818		0.1
	7,964	⁽¹⁾	SP Plus Corp.		296,261		0.0
	14,614		Spartan Motors, Inc.		220,671		0.0
	25,765	^(1),(2)	Spirit Airlines, Inc.		936,558		0.1
	17,132	⁽¹⁾	SPX Corp.		600,477		0.1
	16,480	⁽¹⁾	SPX FLOW, Inc.		721,330		0.1
	5,357		Standex International Corp.		547,485		0.1
	34,179		Steelcase, Inc.		461,417		0.1
	11,002	⁽¹⁾	Sterling Construction Co., Inc.		143,356		0.0
	10,760		Sun Hydraulics Corp.		518,524		0.1
	37,892	⁽¹⁾	Sunrun, Inc.		498,280		0.1
	11,525	^(1),(2)	Team, Inc.		266,228		0.0
	7,106		Tennant Co.		561,374		0.1
	22,203		Tetra Tech, Inc.		1,298,876		0.1
	10,729	⁽¹⁾	Textainer Group Holdings Ltd.		170,591		0.0
	15,310	⁽¹⁾	Thermon Group Holdings, Inc.		350,140		0.0
	20,279		Titan International, Inc.		217,594		0.0
	7,764	⁽¹⁾	Titan Machinery, Inc.		120,730		0.0
	5,550	⁽¹⁾	TPI Composites, Inc.		162,282		0.0
	23,528	⁽¹⁾	Trex Co., Inc.		1,472,618		0.2
	18,554	⁽¹⁾	Trimas Corp.		545,488		0.1
	17,294	⁽¹⁾	TriNet Group, Inc.		967,426		0.1
	20,674		Triton International Ltd./Bermuda		633,865		0.1
	18,880		Triumph Group, Inc.		370,048		0.0
	17,055	⁽¹⁾	TrueBlue, Inc.		459,632		0.1
	15,461	⁽¹⁾	Tutor Perini Corp.		285,255		0.0
	3,559	⁽¹⁾	Twin Disc, Inc.		88,334		0.0
	6,185		Unifirst Corp.		1,094,127		0.1
	23,664		Universal Forest Products, Inc.		866,576		0.1
	9,069		US Ecology, Inc.		577,695		0.1
	3,407	⁽¹⁾	USA Truck, Inc.		79,962		0.0
	5,036	⁽¹⁾	Vectrus, Inc.		155,210		0.0
	4,821	⁽¹⁾	Veritiv Corp.		192,117		0.0
	9,091		Viad Corp.		493,187		0.1
	6,597	⁽¹⁾	Vicor Corp.		287,299		0.0
	11,123	⁽¹⁾	Vivint Solar, Inc.		55,059		0.0
	4,277		VSE Corp.		204,355		0.0
	23,978		Wabash National Corp.		447,429		0.1
	15,781	⁽¹⁾	WageWorks, Inc.		789,050		0.1
	11,078		Watts Water Technologies, Inc.		868,515		0.1
	18,156		Werner Enterprises, Inc.		681,758		0.1
	23,592	⁽¹⁾	Wesco Aircraft Holdings, Inc.		265,410		0.0
	3,088	⁽¹⁾	Willdan Group, Inc.		95,635		0.0
	21,226		Woodward, Inc.		1,631,430		0.2

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	13,882	⁽¹⁾	YRC Worldwide, Inc.		139,514		0.0
					129,844,919		14.4

			Information Technology: 14.5%
	42,828	^(1),(2)	3D Systems Corp.		591,455		0.1
	35,843	⁽¹⁾	8x8, Inc.		718,652		0.1
	22,826	⁽¹⁾	A10 Networks, Inc.		142,206		0.0
	10,409	⁽¹⁾	Acacia Communications, Inc.		362,337		0.0
	46,728	⁽¹⁾	ACI Worldwide, Inc.		1,152,780		0.1
	31,706	⁽¹⁾	Acxiom Corp.		949,595		0.1
	7,994	⁽¹⁾	Adesto Technologies Corp.		67,150		0.0
	20,391		Adtran, Inc.		302,806		0.0
	15,552	⁽¹⁾	Advanced Energy Industries, Inc.		903,416		0.1
	14,082	⁽¹⁾	Aerohive Networks, Inc.		55,906		0.0
	10,865	⁽¹⁾	Agilysys, Inc.		168,407		0.0
	11,291	⁽¹⁾	Alarm.com Holdings, Inc.		455,931		0.1
	10,598	⁽¹⁾	Alpha & Omega Co.		150,916		0.0
	8,967	⁽¹⁾	Altair Engineering, Inc.		306,492		0.0
	10,774	^(1),(2)	Alteryx, Inc.		411,136		0.1
	12,849	^(1),(2)	Ambarella, Inc.		496,100		0.1
	9,970	⁽¹⁾	Amber Road, Inc.		93,818		0.0
	16,567		American Software, Inc.		241,381		0.0
	40,968	⁽¹⁾	Amkor Technology, Inc.		351,915		0.0
	11,793	⁽¹⁾	Anixter International, Inc.		746,497		0.1
	5,159	⁽¹⁾	Appfolio, Inc.		315,473		0.0
	7,684	^(1),(2)	Applied Optoelectronics, Inc.		345,012		0.0
	12,116	⁽¹⁾	Apptio, Inc.		438,599		0.1
	7,490	⁽¹⁾	Aquantia Corp.		86,734		0.0
	4,210	⁽¹⁾	Asure Software, Inc.		67,149		0.0
	39,579	⁽¹⁾	Avaya Holdings Corp.		794,746		0.1
	13,720	^(1),(2)	Avid Technology, Inc.		71,344		0.0
	17,261		AVX Corp.		270,480		0.0
	12,949	⁽¹⁾	Axcelis Technologies, Inc.		256,390		0.0
	15,801	⁽¹⁾	AXT, Inc.		111,397		0.0
	11,280		Badger Meter, Inc.		504,216		0.1
	3,625		Bel Fuse, Inc.		75,762		0.0
	16,563		Belden, Inc.		1,012,331		0.1
	20,549		Benchmark Electronics, Inc.		599,003		0.1
	7,825	^(1),(2)	Benefitfocus, Inc.		262,920		0.0
	19,348		Blackbaud, Inc.		1,982,203		0.2
	12,276	⁽¹⁾	Blackline, Inc.		533,147		0.1
	18,952	⁽¹⁾	Blucora, Inc.		701,224		0.1
	16,153	⁽¹⁾	Bottomline Technologies de, Inc.		804,904		0.1
	48,925	⁽¹⁾	Box, Inc.		1,222,636		0.1
	16,510	⁽¹⁾	Brightcove, Inc.		159,321		0.0
	27,572		Brooks Automation, Inc.		899,399		0.1
	9,909		Cabot Microelectronics Corp.		1,065,812		0.1
	9,812	⁽¹⁾	CACI International, Inc.		1,653,813		0.2
	14,901	⁽¹⁾	CalAmp Corp.		349,130		0.0
	21,826	^(1),(2)	Calix, Inc.		170,243		0.0
	2,793	⁽¹⁾	Carbon Black, Inc.		72,618		0.0
	11,012	⁽¹⁾	Carbonite, Inc.		384,319		0.0
	2,794	⁽¹⁾	Cardlytics, Inc.		60,797		0.0
	17,963	⁽¹⁾	Cardtronics plc		434,345		0.1
	7,603	⁽¹⁾	Care.com, Inc.		158,751		0.0
	18,530	⁽¹⁾	Cargurus, Inc.		643,732		0.1
	29,576	⁽¹⁾	Cars.com, Inc.		839,663		0.1
	5,448	^(1),(2)	Casa Systems, Inc.		88,966		0.0
	6,045		Cass Information Systems, Inc.		416,017		0.1
	9,497	⁽¹⁾	Ceva, Inc.		286,809		0.0
	11,742	⁽¹⁾	ChannelAdvisor Corp.		164,975		0.0
	57,279	⁽¹⁾	Ciena Corp.		1,518,466		0.2
	24,831	⁽¹⁾	Cirrus Logic, Inc.		951,772		0.1
	13,068	⁽¹⁾	Cision Ltd.		195,367		0.0
	6,231	⁽¹⁾	Clearfield, Inc.		68,853		0.0
	41,627	⁽¹⁾	Cloudera, Inc.		567,792		0.1
	11,724		Cohu, Inc.		287,355		0.0
	15,823	⁽¹⁾	Commvault Systems, Inc.		1,041,945		0.1
	9,506		Comtech Telecommunications Corp.		303,051		0.0
	10,884	⁽¹⁾	Control4 Corp.		264,590		0.0
	9,019		ConvergeOne Holdings, Inc.		84,688		0.0
	36,419		Convergys Corp.		890,080		0.1
	21,224	⁽¹⁾	Cornerstone OnDemand, Inc.		1,006,654		0.1
	20,537	^(1),(2)	Coupa Software, Inc.		1,278,223		0.1
	15,865	⁽¹⁾	Cray, Inc.		390,279		0.0
	39,773	⁽¹⁾	Cree, Inc.		1,653,364		0.2
	13,737		CSG Systems International, Inc.		561,431		0.1
	14,477		CTS Corp.		521,172		0.1
	18,725		Daktronics, Inc.		159,350		0.0
	30,687	⁽²⁾	Diebold Nixdorf, Inc.		366,710		0.0
	14,136	⁽¹⁾	Digi International, Inc.		186,595		0.0
	4,637	^(1),(2)	Digimarc Corp.		124,272		0.0
	15,760	⁽¹⁾	Diodes, Inc.		543,247		0.1
	5,785	^(1),(2)	Eastman Kodak Co.		21,983		0.0
	9,660	⁽²⁾	Ebix, Inc.		736,575		0.1
	6,586	⁽¹⁾	eGain Corp.		99,449		0.0
	12,707	⁽¹⁾	Electro Scientific Industries, Inc.		200,389		0.0
	17,979	⁽¹⁾	Electronics for Imaging, Inc.		585,396		0.1
	13,850	⁽¹⁾	Ellie Mae, Inc.		1,438,184		0.2
	28,658	^(1),(2)	Endurance International Group Holdings, Inc.		285,147		0.0
	56,434		Entegris, Inc.		1,913,113		0.2
	17,644	⁽¹⁾	Envestnet, Inc.		969,538		0.1
	5,281	⁽¹⁾	ePlus, Inc.		496,942		0.1
	48,398	⁽¹⁾	Etsy, Inc.		2,041,912		0.2
	9,303	⁽¹⁾	Everbridge, Inc.		441,148		0.1
	29,006	⁽¹⁾	Everi Holdings, Inc.		208,843		0.0
	24,330		EVERTEC, Inc.		531,611		0.1
	17,054	^(1),(2)	Exela Technologies, Inc.		81,007		0.0
	13,268	⁽¹⁾	ExlService Holdings, Inc.		751,101		0.1
	46,964	⁽¹⁾	Extreme Networks, Inc.		373,833		0.0
	14,246	⁽¹⁾	Fabrinet		525,535		0.1
	6,909	⁽¹⁾	Faro Technologies, Inc.		375,504		0.0
	45,023	^(1),(2)	Finisar Corp.		810,414		0.1
	80,676	^(1),(2)	Fitbit, Inc.		526,814		0.1
	22,631	⁽¹⁾	Five9, Inc.		782,354		0.1
	10,720	⁽¹⁾	ForeScout Technologies, Inc.		367,267		0.0
	29,937	⁽¹⁾	Formfactor, Inc.		398,162		0.1
	44,096	⁽¹⁾	Glu Mobile, Inc.		282,655		0.0
	23,826	^(1),(2)	Gogo, Inc.		115,794		0.0
	13,597	^(1),(2)	GTT Communications, Inc.		611,865		0.1
	11,281		Hackett Group, Inc.		181,286		0.0
	34,597	⁽¹⁾	Harmonic, Inc.		147,037		0.0
	25,795	⁽¹⁾	Hortonworks, Inc.		469,985		0.1
	14,298	^(1),(2)	HubSpot, Inc.		1,792,969		0.2

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	9,372	^(1),(2)	Ichor Holdings Ltd.		198,874		0.0
	24,732	⁽¹⁾	II-VI, Inc.		1,074,605		0.1
	12,287	⁽¹⁾	Immersion Corp.		189,711		0.0
	14,247	⁽¹⁾	Imperva, Inc.		687,418		0.1
	7,890	^(1),(2)	Impinj, Inc.		174,448		0.0
	60,086	⁽¹⁾	Infinera Corp.		596,654		0.1
	17,407	⁽¹⁾	Inphi Corp.		567,642		0.1
	14,409	⁽¹⁾	Insight Enterprises, Inc.		705,032		0.1
	11,043	⁽¹⁾	Instructure, Inc.		469,880		0.1
	53,488	⁽¹⁾	Integrated Device Technology, Inc.		1,705,197		0.2
	13,741		InterDigital, Inc.		1,111,647		0.1
	9,079	^(1),(2)	Internap Corp.		94,603		0.0
	13,155	⁽¹⁾	Iteris, Inc.		63,670		0.0
	13,554	⁽¹⁾	Itron, Inc.		813,918		0.1
	18,638		j2 Global, Inc.		1,614,237		0.2
	21,789	⁽¹⁾	Kemet Corp.		526,204		0.1
	13,887	⁽¹⁾	Kimball Electronics, Inc.		254,132		0.0
	35,122	⁽¹⁾	Knowles Corp.		537,367		0.1
	25,605	^(1),(2)	Kopin Corp.		73,230		0.0
	53,196	⁽¹⁾	Lattice Semiconductor Corp.		348,966		0.0
	6,865	⁽¹⁾	Leaf Group Ltd.		74,485		0.0
	41,548	⁽¹⁾	Limelight Networks, Inc.		185,720		0.0
	11,618	⁽¹⁾	Liquidity Services, Inc.		76,098		0.0
	22,271	⁽¹⁾	LivePerson, Inc.		469,918		0.1
	25,310	^(1),(2)	Lumentum Holdings, Inc.		1,465,449		0.2
	17,859	^(1),(2)	MACOM Technology Solutions Holdings, Inc.		411,471		0.1
	10,843		Mantech International Corp.		581,619		0.1
	25,947		Maximus, Inc.		1,611,568		0.2
	25,486	⁽¹⁾	MaxLinear, Inc.		397,327		0.1
	17,401	^(1),(2)	Maxwell Technologies, Inc.		90,485		0.0
	28,570	^(1),(2)	Meet Group, Inc./The		127,994		0.0
	1,416		Mesa Laboratories, Inc.		298,889		0.0
	14,324		Methode Electronics, Inc.		577,257		0.1
	3,653	⁽¹⁾	MicroStrategy, Inc.		466,671		0.1
	17,568	⁽¹⁾	Mindbody, Inc.		678,125		0.1
	13,438	^(1),(2)	Mitek Systems, Inc.		119,598		0.0
	29,796	^(1),(2)	MobileIron, Inc.		132,592		0.0
	11,656	⁽¹⁾	Model N, Inc.		216,802		0.0
	12,469	⁽¹⁾	MoneyGram International, Inc.		83,418		0.0
	17,741		Monotype Imaging Holdings, Inc.		360,142		0.0
	7,505		MTS Systems Corp.		395,138		0.1
	10,542	⁽¹⁾	Nanometrics, Inc.		373,292		0.0
	5,132	⁽¹⁾	Napco Security Technologies, Inc.		75,184		0.0
	13,006	^(1),(2)	NeoPhotonics Corp.		81,027		0.0
	12,365	⁽¹⁾	Netgear, Inc.		772,813		0.1
	33,559	⁽¹⁾	Netscout Systems, Inc.		996,702		0.1
	17,187	⁽¹⁾	New Relic, Inc.		1,728,840		0.2
	26,606		NIC, Inc.		413,723		0.1
	2,424	⁽¹⁾	nLight, Inc.		80,137		0.0
	12,866	⁽¹⁾	Novanta, Inc.		801,552		0.1
	2,436		NVE Corp.		296,656		0.0
	69,435	⁽¹⁾	Oclaro, Inc.		620,055		0.1
	12,407	⁽¹⁾	OneSpan, Inc.		243,798		0.0
	7,193	⁽¹⁾	OSI Systems, Inc.		556,235		0.1
	99,925	^(1),(2)	Pandora Media, Inc.		787,409		0.1
	4,630	⁽¹⁾	PAR Technology Corp.		81,858		0.0
	10,843		Park Electrochemical Corp.		251,449		0.0
	11,341	⁽¹⁾	Paylocity Holding Corp.		667,531		0.1
	11,682	^(1),(2)	PDF Solutions, Inc.		139,950		0.0
	15,344	⁽¹⁾	Perficient, Inc.		404,621		0.1
	54,544		Perspecta, Inc.		1,120,879		0.1
	28,411	⁽¹⁾	Photronics, Inc.		226,578		0.0
	13,244		Plantronics, Inc.		1,009,855		0.1
	13,436	⁽¹⁾	Plexus Corp.		799,979		0.1
	11,439		Power Integrations, Inc.		835,619		0.1
	13,269	^(1),(2)	Presidio, Inc.		173,824		0.0
	18,136		Progress Software Corp.		704,040		0.1
	10,904	⁽¹⁾	PROS Holdings, Inc.		398,759		0.1
	13,918	⁽¹⁾	Q2 Holdings, Inc.		794,022		0.1
	4,210		QAD, Inc.		211,132		0.0
	13,331	⁽¹⁾	Qualys, Inc.		1,123,803		0.1
	12,332	⁽¹⁾	Quantenna Communications, Inc.		191,639		0.0
	15,787	⁽¹⁾	QuinStreet, Inc.		200,495		0.0
	30,940	⁽¹⁾	Quotient Technology, Inc.		405,314		0.1
	43,071	⁽¹⁾	Rambus, Inc.		540,110		0.1
	12,877	⁽¹⁾	Rapid7, Inc.		363,389		0.0
	4,760		Reis, Inc.		103,768		0.0
	13,820	^(1),(2)	Remark Holdings, Inc.		54,036		0.0
	19,588	⁽¹⁾	Ribbon Communications, Inc.		139,467		0.0
	7,140	⁽¹⁾	Rogers Corp.		795,824		0.1
	8,336	⁽¹⁾	Rosetta Stone, Inc.		133,626		0.0
	13,341	⁽¹⁾	Rudolph Technologies, Inc.		394,894		0.1
	16,302	⁽¹⁾	SailPoint Technologies Holding, Inc.		400,051		0.1
	28,205	⁽¹⁾	Sanmina Corp.		826,407		0.1
	10,819	⁽¹⁾	Scansource, Inc.		436,006		0.1
	17,225		Science Applications International Corp.		1,394,019		0.2
	26,147	⁽¹⁾	Semtech Corp.		1,230,216		0.1
	3,984	⁽¹⁾	SendGrid, Inc.		105,656		0.0
	36,641	⁽¹⁾	ServiceSource International, Inc.		144,366		0.0
	2,703	^(1),(2)	ShotSpotter, Inc.		102,525		0.0
	7,575	⁽¹⁾	Shutterstock, Inc.		359,510		0.0
	16,742	⁽¹⁾	Sigma Designs, Inc.		102,126		0.0
	16,645	⁽¹⁾	Silicon Laboratories, Inc.		1,657,842		0.2
	3,746	⁽¹⁾	SMART Global Holdings, Inc.		119,385		0.0
	6,783	⁽¹⁾	SPS Commerce, Inc.		498,415		0.1
	6,829	⁽¹⁾	Stamps.com, Inc.		1,728,078		0.2
	20,433	^(1),(2)	Stratasys Ltd.		391,088		0.1
	23,663	^(1),(2)	SunPower Corp.		181,495		0.0
	15,257	⁽¹⁾	Super Micro Computer, Inc.		360,828		0.0
	17,681	⁽¹⁾	SYKES Enterprises, Inc.		508,859		0.1
	13,529	⁽¹⁾	Synaptics, Inc.		681,456		0.1
	11,814		SYNNEX Corp.		1,140,169		0.1
	14,065	⁽¹⁾	Syntel, Inc.		451,346		0.1
	4,608		Systemax, Inc.		158,193		0.0
	14,599	⁽¹⁾	Tech Data Corp.		1,198,870		0.1
	8,126	⁽¹⁾	TechTarget, Inc.		230,778		0.0
	17,923	⁽¹⁾	Telaria, Inc.		72,409		0.0
	13,648	⁽¹⁾	TeleNav, Inc.		76,429		0.0
	47,818		TiVo Corp.		643,152		0.1
	12,364	^(1),(2)	Trade Desk, Inc./The		1,159,743		0.1
	49,750		Travelport Worldwide Ltd.		922,365		0.1
	33,777	⁽¹⁾	TrueCar, Inc.		340,810		0.0
	6,153		TTEC Holdings, Inc.		212,586		0.0
	37,157	^(1),(2)	TTM Technologies, Inc.		655,078		0.1
	3,876	^(1),(2)	Tucows, Inc.		235,079		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	14,681	⁽¹⁾	Ultra Clean Holdings, Inc.		243,705		0.0
	21,251	^(1),(2)	Unisys Corp.		274,138		0.0
	5,639	⁽¹⁾	Upland Software, Inc.		193,812		0.0
	20,045	⁽¹⁾	USA Technologies, Inc.		280,630		0.0
	10,084	⁽¹⁾	Varonis Systems, Inc.		751,258		0.1
	19,321	⁽¹⁾	Veeco Instruments, Inc.		275,324		0.0
	42,968	⁽¹⁾	VeriFone Holdings, Inc.		980,530		0.1
	25,167	⁽¹⁾	Verint Systems, Inc.		1,116,156		0.1
	3,223	⁽¹⁾	Veritone, Inc.		54,211		0.0
	21,744	^(1),(2)	Viasat, Inc.		1,429,016		0.2
	90,816	⁽¹⁾	Viavi Solutions, Inc.		929,956		0.1
	23,678	^(1),(2)	VirnetX Holding Corp.		80,505		0.0
	11,508	⁽¹⁾	Virtusa Corp.		560,209		0.1
	52,249		Vishay Intertechnology, Inc.		1,212,177		0.1
	4,952	⁽¹⁾	Vishay Precision Group, Inc.		188,919		0.0
	16,555	⁽¹⁾	Web.com Group, Inc.		427,947		0.1
	11,406	⁽¹⁾	Workiva, Inc.		278,306		0.0
	22,441	⁽¹⁾	Xcerra Corp.		313,501		0.0
	13,577	⁽¹⁾	XO Group, Inc.		434,464		0.1
	20,126		Xperi Corp.		324,029		0.0
	32,717	⁽¹⁾	Yelp, Inc.		1,281,852		0.1
	30,123	⁽¹⁾	Yext, Inc.		582,579		0.1
	29,128	⁽¹⁾	Zix Corp.		157,000		0.0
	5,015	^(1),(2)	Zscaler, Inc.		179,286		0.0
					130,499,274		14.5

			Materials: 4.2%
	11,546		A Schulman, Inc.		513,797		0.1
	9,298		Advanced Emissions Solutions, Inc.		105,625		0.0
	12,413	⁽¹⁾	AdvanSix, Inc.		454,688		0.1
	10,142	^(1),(2)	AgroFresh Solutions, Inc.		71,095		0.0
	124,702	^(1),(2)	AK Steel Holding Corp.		541,207		0.1
	49,941	^(1),(2)	Allegheny Technologies, Inc.		1,254,518		0.1
	12,456		American Vanguard Corp.		285,865		0.0
	13,001		Balchem Corp.		1,275,918		0.1
	15,443		Boise Cascade Co.		690,302		0.1
	18,443		Carpenter Technology Corp.		969,549		0.1
	20,287	⁽¹⁾	Century Aluminum Co.		319,520		0.0
	3,283		Chase Corp.		384,932		0.1
	7,470	⁽¹⁾	Clearwater Paper Corp.		172,557		0.0
	119,123	⁽¹⁾	Cleveland-Cliffs, Inc.		1,004,207		0.1
	72,901	⁽¹⁾	Coeur Mining, Inc.		554,048		0.1
	45,617		Commercial Metals Co.		962,975		0.1
	13,329	⁽²⁾	Compass Minerals International, Inc.		876,382		0.1
	34,367	⁽¹⁾	Ferro Corp.		716,552		0.1
	30,512	⁽¹⁾	Ferroglobe PLC		–		–
	22,128	^(1),(2)	Flotek Industries, Inc.		71,473		0.0
	8,164	^(1),(2)	Forterra, Inc.		79,436		0.0
	7,790		FutureFuel Corp.		109,138		0.0
	28,667	⁽¹⁾	GCP Applied Technologies, Inc.		829,910		0.1
	24,632		Gold Resource Corp.		162,325		0.0
	2,217		Greif, Inc.		127,699		0.0
	10,110		Greif, Inc. - Class A		534,718		0.1
	5,281		Hawkins, Inc.		186,683		0.0
	5,425		Haynes International, Inc.		199,315		0.0
	19,646		HB Fuller Co.		1,054,597		0.1
	154,914		Hecla Mining Co.		539,101		0.1
	17,119	⁽¹⁾	Ingevity Corp.		1,384,242		0.2
	7,977		Innophos Holdings, Inc.		379,705		0.1
	9,936		Innospec, Inc.		760,601		0.1
	38,191	⁽¹⁾	Intrepid Potash, Inc.		156,583		0.0
	6,567		Kaiser Aluminum Corp.		683,690		0.1
	34,854		KapStone Paper and Packaging Corp.		1,202,463		0.1
	74,371	⁽¹⁾	Klondex Mines Ltd.		171,797		0.0
	5,527		KMG Chemicals, Inc.		407,782		0.1
	9,204	⁽¹⁾	Koppers Holdings, Inc.		352,973		0.0
	12,138	⁽¹⁾	Kraton Corp.		560,047		0.1
	8,702		Kronos Worldwide, Inc.		196,056		0.0
	57,691		Louisiana-Pacific Corp.		1,570,349		0.2
	7,981	⁽¹⁾	LSB Industries, Inc.		42,299		0.0
	8,216		Materion Corp.		444,896		0.1
	14,065		Minerals Technologies, Inc.		1,059,798		0.1
	11,109		Myers Industries, Inc.		213,293		0.0
	6,698		Neenah, Inc.		568,325		0.1
	4,183		Olympic Steel, Inc.		85,375		0.0
	21,411	⁽¹⁾	Omnova Solutions, Inc.		222,674		0.0
	19,101		PH Glatfelter Co.		374,189		0.0
	32,498		PolyOne Corp.		1,404,564		0.2
	10,963	⁽¹⁾	PQ Group Holdings, Inc.		197,334		0.0
	5,392		Quaker Chemical Corp.		835,059		0.1
	19,516		Rayonier Advanced Materials, Inc.		333,528		0.0
	7,499	⁽¹⁾	Ryerson Holding Corp.		83,614		0.0
	11,038		Schnitzer Steel Industries, Inc.		371,981		0.0
	12,321		Schweitzer-Mauduit International, Inc.		538,674		0.1
	16,991		Sensient Technologies Corp.		1,215,706		0.1
	8,259		Stepan Co.		644,285		0.1
	45,512	⁽¹⁾	Summit Materials, Inc.		1,194,690		0.1
	26,890	⁽¹⁾	SunCoke Energy, Inc.		360,326		0.0
	118,524		Tahoe Resources, Inc.		583,138		0.1
	16,448	^(1),(2)	TimkenSteel Corp.		268,925		0.0
	7,099	⁽¹⁾	Trecora Resources		105,420		0.0
	11,114		Tredegar Corp.		261,179		0.0
	17,685		Trinseo SA		1,254,751		0.1
	37,596	⁽²⁾	Tronox Ltd. - CL A		739,889		0.1
	3,159	⁽¹⁾	Universal Stainless & Alloy		74,774		0.0
	6,773	^(1),(2)	US Concrete, Inc.		355,583		0.0
	10,533		Valhi, Inc.		50,137		0.0
	14,421	⁽¹⁾	Verso Corp.		313,801		0.0
	14,421		Warrior Met Coal, Inc.		397,587		0.1
	17,119		Worthington Industries, Inc.		718,484		0.1
					38,188,698		4.2

			Real Estate: 7.1%
	32,989		Acadia Realty Trust		902,909		0.1
	11,935		Agree Realty Corp.		629,810		0.1
	27,485		Alexander & Baldwin, Inc.		645,897		0.1
	976	⁽²⁾	Alexander's, Inc.		373,447		0.0
	4,611	^(1),(2)	Altisource Portfolio Solutions SA		134,503		0.0
	17,316		American Assets Trust, Inc.		663,030		0.1
	14,856		Americold Realty Trust		327,129		0.0
	18,337		Armada Hoffler Properties, Inc.		273,221		0.0
	36,214		Ashford Hospitality Trust, Inc.		293,333		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate: (continued)
	9,480	⁽²⁾	Bluerock Residential Growth REIT, Inc.		84,562		0.0
	15,429		Braemar Hotels & Resorts, Inc.		176,199		0.0
	31,479		CareTrust REIT, Inc.		525,385		0.1
	20,125		CatchMark Timber Trust, Inc.		256,191		0.0
	68,639	⁽²⁾	CBL & Associates Properties, Inc.		382,319		0.0
	46,690		Cedar Realty Trust, Inc.		220,377		0.0
	18,336		Chatham Lodging Trust		389,090		0.0
	24,263		Chesapeake Lodging Trust		767,681		0.1
	15,262		City Office REIT, Inc.		195,811		0.0
	8,865		Community Healthcare Trust, Inc.		264,798		0.0
	2,687		Consolidated-Tomoka Land Co.		165,277		0.0
	42,972		CoreCivic, Inc.		1,026,601		0.1
	6,478	⁽²⁾	CorEnergy Infrastructure Trust, Inc.		243,573		0.0
	17,366	⁽¹⁾	CorePoint Lodging, Inc.		449,779		0.1
	165,751		Cousins Properties, Inc.		1,606,127		0.2
	78,462		DiamondRock Hospitality Co.		963,513		0.1
	17,781		Easterly Government Properties, Inc.		351,353		0.0
	13,587		EastGroup Properties, Inc.		1,298,374		0.2
	30,289		Education Realty Trust, Inc.		1,256,993		0.1
	9,240	⁽²⁾	Farmland Partners, Inc.		81,312		0.0
	47,017		First Industrial Realty Trust, Inc.		1,567,547		0.2
	3,927	⁽¹⁾	Forestar Group, Inc.		81,485		0.0
	28,321		Four Corners Property Trust, Inc.		697,546		0.1
	47,331		Franklin Street Properties Corp.		405,153		0.1
	22,761		Front Yard Residential Corp.		237,170		0.0
	2,381	⁽¹⁾	FRP Holdings, Inc.		154,170		0.0
	48,898		Geo Group, Inc./The		1,346,651		0.2
	14,694		Getty Realty Corp.		413,930		0.1
	14,447		Gladstone Commercial Corp.		277,671		0.0
	28,629		Global Net Lease, Inc.		584,890		0.1
	38,882		Government Properties Income Trust		616,280		0.1
	63,466		Gramercy Property Trust		1,733,891		0.2
	48,744		Healthcare Realty Trust, Inc.		1,417,476		0.2
	17,130		Hersha Hospitality Trust		367,438		0.0
	14,847		HFF, Inc.		509,994		0.1
	32,950		Independence Realty Trust, Inc.		339,715		0.0
	4,754		Industrial Logistics Properties Trust		106,252		0.0
	17,938	⁽¹⁾	InfraREIT, Inc.		397,685		0.1
	2,375		Innovative Industrial Properties, Inc.		86,973		0.0
	61,339		Investors Real Estate Trust		339,205		0.0
	32,442	⁽¹⁾	iStar, Inc.		350,049		0.0
	50,771		Kennedy-Wilson Holdings, Inc.		1,073,807		0.1
	34,404		Kite Realty Group Trust		587,620		0.1
	45,177		LaSalle Hotel Properties		1,546,409		0.2
	88,653		Lexington Realty Trust		773,941		0.1
	16,095		LTC Properties, Inc.		687,900		0.1
	35,265		Mack-Cali Realty Corp.		715,174		0.1
	7,376	⁽¹⁾	Marcus & Millichap, Inc.		287,738		0.0
	31,169		Monmouth Real Estate Investment Corp.		515,224		0.1
	15,875		National Health Investors, Inc.		1,169,670		0.1
	20,425		National Storage Affiliates Trust		629,499		0.1
	33,684		New Senior Investment Group, Inc.		254,988		0.0
	6,304		Newmark Group, Inc.		89,706		0.0
	8,254		NexPoint Residential Trust, Inc.		234,826		0.0
	23,329		NorthStar Realty Europe Corp.		338,037		0.0
	10,366		One Liberty Properties, Inc.		273,766		0.0
	27,222	⁽²⁾	Pebblebrook Hotel Trust		1,056,214		0.1
	28,704	⁽²⁾	Pennsylvania Real Estate Investment Trust		315,457		0.0
	71,891		Physicians Realty Trust		1,145,943		0.1
	41,786		Piedmont Office Realty Trust, Inc.		832,795		0.1
	24,511		PotlatchDeltic Corp.		1,246,384		0.1
	15,407		Preferred Apartment Communities, Inc.		261,765		0.0
	7,731		PS Business Parks, Inc.		993,434		0.1
	20,658		QTS Realty Trust, Inc.		815,991		0.1
	37,851	⁽¹⁾	Quality Care Properties, Inc.		814,175		0.1
	31,768		Ramco-Gershenson Properties		419,655		0.1
	7,556		RE/MAX Holdings, Inc.		396,312		0.1
	28,457	^(1),(2)	Redfin Corp.		657,072		0.1
	43,425		Retail Opportunity Investments Corp.		832,023		0.1
	31,432		Rexford Industrial Realty, Inc.		986,650		0.1
	68,984		RLJ Lodging Trust		1,521,097		0.2
	3,179		RMR Group, Inc.		249,393		0.0
	18,061		Ryman Hospitality Properties		1,501,772		0.2
	71,253		Sabra Healthcare REIT, Inc.		1,548,328		0.2
	4,123		Saul Centers, Inc.		220,910		0.0
	26,718		Select Income REIT		600,353		0.1
	11,596	⁽²⁾	Seritage Growth Properties		492,018		0.1
	9,484	⁽¹⁾	Spirit MTA REIT		97,685		0.0
	18,009	^(1),(2)	St. Joe Co.		323,262		0.0
	38,608		STAG Industrial, Inc.		1,051,296		0.1
	2,652	⁽¹⁾	Stratus Properties, Inc.		81,019		0.0
	41,348		Summit Hotel Properties, Inc.		591,690		0.1
	90,861		Sunstone Hotel Investors, Inc.		1,510,110		0.2
	30,749		Tanger Factory Outlet Centers, Inc.		722,294		0.1
	9,802	⁽¹⁾	Tejon Ranch Co.		238,189		0.0
	22,306		Terreno Realty Corp.		840,267		0.1
	20,718		Tier REIT, Inc.		492,674		0.1
	10,870	^(1),(2)	Trinity Place Holdings, Inc.		71,199		0.0
	17,252		UMH Properties, Inc.		264,818		0.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Real Estate: (continued)
	6,086		Universal Health Realty Income Trust		389,382		0.1
	42,038		Urban Edge Properties		961,409		0.1
	15,000		Urstadt Biddle Properties, Inc.		339,450		0.0
	72,940		Washington Prime Group, Inc.		591,543		0.1
	31,101		Washington Real Estate Investment Trust		943,293		0.1
	18,495		Whitestone REIT		230,818		0.0
	8,921	⁽¹⁾	Willscot Corp.		132,031		0.0
	43,571		Xenia Hotels & Resorts, Inc.		1,061,390		0.1
					63,999,630		7.1

			Telecommunication Services: 0.7%
	4,399		ATN International, Inc.		232,135		0.0
	15,851	⁽¹⁾	Boingo Wireless, Inc.		358,074		0.1
	17,941	⁽¹⁾	Cincinnati Bell, Inc.		281,674		0.0
	16,868		Cogent Communications Holdings, Inc.		900,751		0.1
	27,535	⁽²⁾	Consolidated Communications Holdings, Inc.		340,333		0.1
	32,149	⁽²⁾	Frontier Communications Corp.		172,319		0.0
	16,366	⁽¹⁾	Intelsat SA		272,658		0.0
	38,204	⁽¹⁾	Iridium Communications, Inc.		615,084		0.1
	34,155	⁽¹⁾	NII Holdings, Inc.		133,204		0.0
	8,192	⁽¹⁾	Ooma, Inc.		115,917		0.0
	28,144	^(1),(2)	Orbcomm, Inc.		284,254		0.1
	4,289	^(1),(2)	pdvWireless, Inc.		107,011		0.0
	19,547		Shenandoah Telecommunications Co.		639,187		0.1
	8,901		Spok Holdings, Inc.		133,960		0.0
	87,233	⁽¹⁾	Vonage Holdings Corp.		1,124,433		0.1
	15,056	⁽²⁾	Windstream Holdings, Inc.		79,345		0.0
					5,790,339		0.7

			Utilities: 3.2%
	20,177		Allete, Inc.		1,561,902		0.2
	14,528		American States Water Co.		830,420		0.1
	5,585	^(1),(2)	AquaVenture Holdings Ltd.		87,014		0.0
	2,723		Artesian Resources Corp.		105,571		0.0
	65,167	⁽¹⁾	Atlantic Power Corp.		143,367		0.0
	26,010		Avista Corp.		1,369,687		0.2
	21,147	⁽²⁾	Black Hills Corp.		1,294,408		0.1
	9,351	^(1),(2)	Cadiz, Inc.		122,498		0.0
	19,460		California Water Service Group		757,967		0.1
	7,067		Chesapeake Utilities Corp.		565,007		0.1
	5,399		Connecticut Water Service, Inc.		352,663		0.0
	16,715		El Paso Electric Co.		987,856		0.1
	20,164		Idacorp, Inc.		1,859,927		0.2
	15,376		MGE Energy, Inc.		969,457		0.1
	7,763		Middlesex Water Co.		327,366		0.0
	34,986		New Jersey Resources Corp.		1,565,623		0.2
	11,505		Northwest Natural Gas Co.		734,019		0.1
	19,287		NorthWestern Corp.		1,104,181		0.1
	17,552		NRG Yield, Inc. - Class A		299,262		0.0
	22,927		NRG Yield, Inc. - Class C		394,344		0.0
	20,969		ONE Gas, Inc.		1,567,223		0.2
	16,136		Ormat Technologies, Inc.		858,274		0.1
	17,464		Otter Tail Corp.		831,286		0.1
	32,160	⁽²⁾	Pattern Energy Group, Inc.		603,000		0.1
	31,508		PNM Resources, Inc.		1,225,661		0.1
	35,068		Portland General Electric Co.		1,499,508		0.2
	2,627		RGC Resources, Inc.		76,656		0.0
	6,948		SJW Group		460,097		0.1
	32,698		South Jersey Industries, Inc.		1,094,402		0.1
	19,143		Southwest Gas Holdings, Inc.		1,460,037		0.2
	4,938		Spark Energy, Inc.		48,146		0.0
	19,633		Spire, Inc.		1,387,071		0.2
	23,532		TerraForm Power, Inc.		275,324		0.0
	7,234		Unitil Corp.		369,223		0.0
	20,803		WGL Holdings, Inc.		1,846,266		0.2
	7,491	⁽²⁾	York Water Co.		238,214		0.0
					29,272,927		3.2

		Total Common Stock
		(Cost $546,863,683)			879,359,114		97.4

RIGHTS: 0.0%
			Consumer Discretionary: –%
	46,399	^(1),(3)	Media General, Inc. - CVR		–		–

			Health Care: 0.0%
	12,980	^(1),(3)	Clinical Data, Inc.		–		–
	64,411	^(1),(3)	Dyax, Corp. - CVR		157,807		0.0
					157,807		0.0

		Total Rights
		(Cost $9,198)			157,807		0.0

		Total Long-Term Investments
		(Cost $546,872,881)			879,516,921		97.4

Principal
Amount†

Value

Percentage
of Net
Assets

SHORT-TERM INVESTMENTS: 12.0%

Securities Lending Collateral⁽⁴⁾: 8.4%

36,277,310

Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $36,283,512, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $37,002,856, due 07/25/18-06/15/53)

36,277,310

4.0

See Accompanying Notes to Financial Statements

Voya Russell™ Small Cap Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral⁽⁴⁾: (continued)
	3,803,429	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $3,804,054, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $3,879,498, due 07/05/18-09/09/49)		3,803,429		0.4
	18,133,643	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $18,137,041, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $18,496,319, due 11/15/42-08/15/44)		18,133,643		2.0
	18,133,643	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $18,137,071, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $18,496,451, due 07/15/19-02/15/48)		18,133,643		2.0
				76,348,025		8.4

Shares				Value			Percentage of Net Assets
			Mutual Funds: 3.6%
	32,188,000	⁽⁵⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $32,188,000)		32,188,000			3.6

		Total Short-Term Investments
		(Cost $108,536,025)			108,536,025			12.0

		Total Investments in Securities (Cost $655,408,906)		$	988,052,946			109.4
		Liabilities in Excess of Other Assets			(84,848,821	)		(9.4	)
		Net Assets		$	903,204,125			100.0

†	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)	For fair value measurement disclosure purposes, security is categorized as Level 3, whose value was determined using significant unobservable inputs.
(4)	Represents securities purchased with cash collateral received for securities on loan.
(5)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: 29.0%
			Basic Materials: 0.8%
	500,000		Airgas, Inc., 2.900%, 11/15/2022		487,244		0.0
	800,000		Barrick Australian Finance Pty Ltd., 5.950%, 10/15/2039		895,185		0.0
	800,000		Cabot Corp., 3.700%, 07/15/2022		793,893		0.0
	1,500,000	⁽¹⁾	Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co. L.P., 3.300%, 05/01/2023		1,489,859		0.1
	500,000	⁽¹⁾	Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co. L.P., 3.700%, 06/01/2028		494,310		0.0
	1,782,000		Dow Chemical Co., 8.550%, 05/15/2019		1,868,085		0.1
	500,000		Dow Chemical Co/The, 4.250%, 10/01/2034		481,712		0.0
	68,000		Eastman Chemical Co., 4.500%, 01/15/2021		69,604		0.0
	400,000		Eastman Chemical Co., 4.650%, 10/15/2044		393,242		0.0
	2,279,000		EI Du Pont de Nemours & Co., 6.000%, 07/15/2018		2,281,415		0.1
	250,000		Goldcorp, Inc., 3.625%, 06/09/2021		249,784		0.0
	1,500,000		International Paper Co., 3.000%, 02/15/2027		1,359,833		0.1
	400,000		International Paper Co., 3.650%, 06/15/2024		395,782		0.0
	750,000		International Paper Co., 3.800%, 01/15/2026		729,301		0.0
	500,000		LYB International Finance BV, 4.000%, 07/15/2023		501,483		0.0
	250,000		Monsanto Co., 2.125%, 07/15/2019		247,796		0.0
	1,000,000		Monsanto Co., 2.200%, 07/15/2022		935,154		0.0
	400,000		Monsanto Co., 2.750%, 07/15/2021		390,310		0.0
	1,000,000		Monsanto Co., 3.600%, 07/15/2042		822,126		0.0
	500,000		Monsanto Co., 3.950%, 04/15/2045		435,405		0.0
	250,000		Monsanto Co., 4.200%, 07/15/2034		232,393		0.0
	1,000,000		Mosaic Co/The, 4.250%, 11/15/2023		1,006,689		0.1
	250,000		Mosaic Co/The, 5.450%, 11/15/2033		253,267		0.0
	1,000,000		Nutrien Ltd., 3.150%, 10/01/2022		973,363		0.0
	1,000,000		Nutrien Ltd., 5.625%, 12/01/2040		1,110,565		0.1
	1,000,000		Praxair, Inc., 2.200%, 08/15/2022		958,763		0.0
	500,000		Rio Tinto Finance USA Ltd., 3.750%, 06/15/2025		503,205		0.0
	750,000		Rio Tinto Finance USA Ltd., 7.125%, 07/15/2028		948,409		0.0
	1,000,000		Sherwin-Williams Co/The, 3.450%, 06/01/2027		945,638		0.0
	2,000,000		Southern Copper Corp., 5.375%, 04/16/2020		2,076,617		0.1
	250,000		Southern Copper Corp., 5.875%, 04/23/2045		266,763		0.0
	350,000		Southern Copper Corp., 6.750%, 04/16/2040		403,173		0.0
	1,955,000		Vale Overseas Ltd., 6.875%, 11/21/2036		2,204,654		0.1
					27,205,022		0.8

			Communications: 2.9%
	250,000		21st Century Fox America, Inc., 4.750%, 09/15/2044		253,600		0.0
	2,050,000		21st Century Fox America, Inc., 6.150%, 03/01/2037		2,410,045		0.1
	1,000,000		Alibaba Group Holding Ltd, 2.800%, 06/06/2023		963,168		0.0
	1,000,000		Alibaba Group Holding Ltd, 3.400%, 12/06/2027		932,475		0.0
	300,000		Amazon.com, Inc., 2.500%, 11/29/2022		291,356		0.0
	1,000,000	⁽¹⁾	Amazon.com, Inc., 2.800%, 08/22/2024		954,727		0.0
	1,000,000		Amazon.com, Inc., 3.150%, 08/22/2027		961,908		0.0
	1,000,000		Amazon.com, Inc., 3.800%, 12/05/2024		1,021,258		0.0
	1,000,000		Amazon.com, Inc., 4.800%, 12/05/2034		1,098,829		0.1
	4,000,000		America Movil SAB de CV, 5.000%, 03/30/2020		4,113,759		0.1
	500,000		AT&T, Inc., 3.200%, 03/01/2022		490,945		0.0
	1,000,000		AT&T, Inc., 3.400%, 05/15/2025		941,880		0.0
	500,000		AT&T, Inc., 3.800%, 03/01/2024		490,785		0.0
	1,014,000	⁽¹⁾	AT&T, Inc., 4.100%, 02/15/2028		970,466		0.0
	500,000		AT&T, Inc., 4.125%, 02/17/2026		489,526		0.0
	1,000,000		AT&T, Inc., 4.250%, 03/01/2027		980,547		0.0
	2,000,000		AT&T, Inc., 4.500%, 05/15/2035		1,854,103		0.1
	1,260,000		AT&T, Inc., 4.500%, 03/09/2048		1,085,623		0.1
	1,500,000		AT&T, Inc., 4.750%, 05/15/2046		1,343,804		0.1
	2,500,000	⁽¹⁾	AT&T, Inc., 4.900%, 08/15/2037		2,378,051		0.1
	500,000		AT&T, Inc., 5.450%, 03/01/2047		492,186		0.0
	250,000		AT&T, Inc., 5.650%, 02/15/2047		252,452		0.0
	1,620,000		AT&T, Inc., 6.000%, 08/15/2040		1,693,287		0.1

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Communications: (continued)
	500,000		British Telecommunications PLC, 2.350%, 02/14/2019		498,634		0.0
	300,000		CBS Corp., 2.300%, 08/15/2019		297,310		0.0
	300,000		CBS Corp., 3.700%, 08/15/2024		292,078		0.0
	250,000		CBS Corp., 4.000%, 01/15/2026		242,761		0.0
	2,000,000	⁽²⁾	CBS Corp., 4.300%, 02/15/2021		2,034,177		0.1
	250,000		CBS Corp., 4.600%, 01/15/2045		231,337		0.0
	300,000		CBS Corp., 4.900%, 08/15/2044		289,943		0.0
	500,000		Charter Communications Operating LLC / Charter Communications Operating Capital, 4.464%, 07/23/2022		506,018		0.0
	1,500,000		Charter Communications Operating LLC / Charter Communications Operating Capital, 4.908%, 07/23/2025		1,516,564		0.1
	1,000,000		Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/2045		1,056,755		0.1
	1,000,000		Cisco Systems, Inc., 2.125%, 03/01/2019		997,602		0.0
	1,000,000		Cisco Systems, Inc., 2.200%, 02/28/2021		981,407		0.0
	1,000,000		Cisco Systems, Inc., 2.900%, 03/04/2021		997,114		0.0
	1,000,000		Cisco Systems, Inc., 3.625%, 03/04/2024		1,011,620		0.0
	1,500,000		Cisco Systems, Inc., 5.500%, 01/15/2040		1,786,081		0.1
	750,000		Comcast Cable Communications Holdings, Inc., 9.455%, 11/15/2022		920,667		0.0
	750,000		Comcast Corp., 3.000%, 02/01/2024		717,640		0.0
	500,000		Comcast Corp., 3.375%, 02/15/2025		480,326		0.0
	1,250,000		Comcast Corp., 3.600%, 03/01/2024		1,231,169		0.1
	724,000		Comcast Corp., 3.969%, 11/01/2047		638,769		0.0
	750,000		Comcast Corp., 4.200%, 08/15/2034		717,008		0.0
	750,000		Comcast Corp., 4.250%, 01/15/2033		733,195		0.0
	1,000,000		Comcast Corp., 4.500%, 01/15/2043		946,976		0.0
	1,000,000		Comcast Corp., 4.600%, 08/15/2045		964,952		0.0
	335,000		Comcast Corp., 6.500%, 11/15/2035		398,721		0.0
	1,500,000		Deutsche Telekom International Finance BV, 8.750%, 06/15/2030		1,991,022		0.1
	750,000		Discovery Communications LLC, 3.250%, 04/01/2023		727,951		0.0
	500,000	⁽¹⁾	Discovery Communications LLC, 3.500%, 06/15/2022		495,455		0.0
	250,000	⁽¹⁾	Discovery Communications LLC, 3.900%, 11/15/2024		244,732		0.0
	1,800,000		Discovery Communications LLC, 4.375%, 06/15/2021		1,841,039		0.1
	300,000		eBay, Inc., 2.875%, 08/01/2021		295,521		0.0
	1,500,000		Expedia Group, Inc., 5.950%, 08/15/2020		1,575,477		0.1
	1,000,000		Expedia Group, Inc., 7.456%, 08/15/2018		1,004,880		0.0
	300,000		Juniper Networks, Inc., 3.125%, 02/26/2019		300,620		0.0
	500,000		Juniper Networks, Inc., 4.500%, 03/15/2024		508,648		0.0
	300,000		Motorola Solutions, Inc., 3.500%, 09/01/2021		298,374		0.0
	100,000		Motorola Solutions, Inc., 4.000%, 09/01/2024		97,061		0.0
	1,500,000	⁽¹⁾	NBCUniversal Enterprise, Inc., 1.974%, 04/15/2019		1,488,983		0.1
	500,000		NBCUniversal Media LLC, 2.875%, 01/15/2023		479,627		0.0
	500,000		NBCUniversal Media, LLC, 4.450%, 01/15/2043		473,339		0.0
	1,500,000		Omnicom Group, Inc. / Omnicom Capital, Inc., 3.625%, 05/01/2022		1,489,973		0.1
	250,000		Orange SA, 2.750%, 02/06/2019		249,869		0.0
	500,000		Orange SA, 5.500%, 02/06/2044		555,170		0.0
	250,000		Rogers Communications, Inc., 5.000%, 03/15/2044		260,389		0.0
	500,000		Telefonica Emisiones SAU, 4.103%, 03/08/2027		484,239		0.0
	750,000		Telefonica Emisiones SAU, 4.665%, 03/06/2038		703,267		0.0
	700,000		Telefonica Emisiones SAU, 5.134%, 04/27/2020		722,424		0.0
	2,000,000		Telefonica Emisiones SAU, 5.462%, 02/16/2021		2,094,262		0.1
	1,000,000	⁽¹⁾	Tencent Holdings Ltd., 2.985%, 01/19/2023		972,589		0.0
	750,000		Time Warner Cable LLC, 4.125%, 02/15/2021		754,192		0.0
	1,000,000		Time Warner Cable LLC, 4.500%, 09/15/2042		823,863		0.0
	1,000,000		Time Warner Entertainment Co. L.P., 8.375%, 03/15/2023		1,164,476		0.1

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Communications: (continued)
	500,000		Time Warner Inc., 2.100%, 06/01/2019		496,626		0.0
	500,000		Time Warner Inc., 3.550%, 06/01/2024		482,561		0.0
	500,000		Time Warner Inc., 4.650%, 06/01/2044		445,038		0.0
	1,500,000		Time Warner Inc., 4.875%, 03/15/2020		1,539,221		0.1
	400,000		Time Warner Inc., 5.350%, 12/15/2043		391,647		0.0
	1,425,000		Time Warner Inc., 6.500%, 11/15/2036		1,603,758		0.1
	1,000,000		Verizon Communications, Inc., 2.625%, 08/15/2026		888,810		0.0
	1,000,000		Verizon Communications, Inc., 3.500%, 11/01/2024		968,169		0.0
	1,000,000		Verizon Communications, Inc., 4.125%, 03/16/2027		987,511		0.0
	1,585,000	⁽¹⁾	Verizon Communications, Inc., 4.329%, 09/21/2028		1,574,060		0.1
	1,650,000		Verizon Communications, Inc., 4.400%, 11/01/2034		1,542,310		0.1
	655,000		Verizon Communications, Inc., 4.522%, 09/15/2048		599,035		0.0
	3,000,000		Verizon Communications, Inc., 4.750%, 11/01/2041		2,870,156		0.1
	3,136,000		Verizon Communications, Inc., 4.862%, 08/21/2046		3,005,566		0.1
	248,000		Viacom, Inc., 3.875%, 04/01/2024		240,151		0.0
	390,000		Viacom, Inc., 4.375%, 03/15/2043		324,896		0.0
	440,000		Viacom, Inc., 5.850%, 09/01/2043		443,322		0.0
	500,000		Vodafone Group PLC, 2.950%, 02/19/2023		482,812		0.0
	1,500,000		Vodafone Group PLC, 3.750%, 01/16/2024		1,488,457		0.1
	2,000,000		Vodafone Group PLC, 4.125%, 05/30/2025		1,992,562		0.1
	1,000,000		Vodafone Group PLC, 6.150%, 02/27/2037		1,102,066		0.1
	300,000		Walt Disney Co/The, 2.350%, 12/01/2022		288,047		0.0
	400,000		Walt Disney Co/The, 3.000%, 02/13/2026		380,935		0.0
	300,000		Walt Disney Co/The, 4.125%, 06/01/2044		289,924		0.0
	1,000,000		Walt Disney Co/The, 5.500%, 03/15/2019		1,020,162		0.0
	1,000,000		WPP Finance 2010, 3.625%, 09/07/2022		975,228		0.0
					95,474,076		2.9

			Consumer, Cyclical: 1.9%
	230,500		American Airlines 2016-2 Class AA Pass Through Trust, 3.200%, 12/15/2029		218,426		0.0
	947,047		American Airlines 2016-3 Class AA Pass Through Trust, 3.000%, 04/15/2030		892,220		0.0
	720,750		American Airlines 2017-1 Class AA Pass Through Trust, 3.650%, 08/15/2030		703,333		0.0
	1,214,000		American Airlines 2017-2 Class AA Pass Through Trust, 3.350%, 04/15/2031		1,173,198		0.1
	500,000		American Honda Finance Corp., 2.300%, 09/09/2026		454,567		0.0
	750,000		AutoZone, Inc., 3.125%, 07/15/2023		728,504		0.0
	286,000	⁽¹⁾	British Airways 2018-1 Class A Pass Through Trust, 4.125%, 03/20/2033		282,944		0.0
	400,000		Tapestry, Inc., 4.250%, 04/01/2025		395,676		0.0
	1,498,941		Continental Airlines 2009-2 Class A Pass Through Trust, 7.250%, 11/10/2019		1,572,142		0.1
	300,000		Costco Wholesale Corp., 1.700%, 12/15/2019		295,692		0.0
	1,000,000	⁽¹⁾	Daimler Finance North America LLC, 2.300%, 02/12/2021		971,662		0.0
	500,000	⁽¹⁾	Daimler Finance North America LLC, 2.375%, 08/01/2018		499,872		0.0
	795,036		Delta Air Lines 2007-1 Class A Pass Through Trust, 6.821%, 02/10/2024		867,703		0.0
	500,000		Ford Motor Co., 4.346%, 12/08/2026		489,672		0.0
	300,000		Ford Motor Co., 4.750%, 01/15/2043		259,993		0.0
	500,000		Ford Motor Co., 7.450%, 07/16/2031		588,799		0.0
	500,000		Ford Motor Credit Co. LLC, 2.021%, 05/03/2019		495,962		0.0
	500,000		Ford Motor Credit Co. LLC, 2.943%, 01/08/2019		500,359		0.0
	500,000		Ford Motor Credit Co. LLC, 3.096%, 05/04/2023		477,128		0.0
	500,000		Ford Motor Credit Co. LLC, 3.200%, 01/15/2021		494,668		0.0
	250,000		Ford Motor Credit Co. LLC, 4.134%, 08/04/2025		244,092		0.0
	750,000		Ford Motor Credit Co. LLC, 4.250%, 09/20/2022		756,769		0.0
	1,000,000		Ford Motor Credit Co. LLC, 4.375%, 08/06/2023		1,004,984		0.1

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Cyclical: (continued)
	1,300,000		Ford Motor Credit Co., LLC, 5.875%, 08/02/2021		1,379,019		0.1
	750,000		General Motors Co., 6.600%, 04/01/2036		813,446		0.0
	1,000,000		General Motors Financial Co., Inc., 3.100%, 01/15/2019		1,001,078		0.1
	500,000		General Motors Financial Co., Inc., 3.150%, 06/30/2022		486,385		0.0
	1,000,000		General Motors Financial Co., Inc., 3.200%, 07/06/2021		987,612		0.0
	1,000,000		General Motors Financial Co., Inc., 3.250%, 01/05/2023		969,857		0.0
	750,000		General Motors Financial Co., Inc., 3.700%, 05/09/2023		737,414		0.0
	500,000		General Motors Financial Co., Inc., 3.850%, 01/05/2028		462,737		0.0
	500,000		General Motors Financial Co., Inc., 4.350%, 01/17/2027		484,488		0.0
	1,000,000		General Motors Financial Co., Inc., 5.250%, 03/01/2026		1,037,816		0.1
	500,000		Home Depot, Inc./The, 2.800%, 09/14/2027		464,747		0.0
	3,350,000		Home Depot, Inc./The, 5.875%, 12/16/2036		4,072,967		0.1
	500,000		Hyatt Hotels Corp., 3.375%, 07/15/2023		492,507		0.0
	500,000	⁽¹⁾	Hyundai Capital America, 2.400%, 10/30/2018		499,305		0.0
	1,000,000	⁽¹⁾	Hyundai Capital America, 2.875%, 08/09/2018		999,881		0.1
	500,000	⁽²⁾	Kohl's Corp., 4.250%, 07/17/2025		498,142		0.0
	1,000,000		Lowe's Cos, Inc., 3.100%, 05/03/2027		945,820		0.0
	600,000		Lowe's Cos, Inc., 4.250%, 09/15/2044		585,922		0.0
	500,000		Macy's Retail Holdings, Inc., 2.875%, 02/15/2023		470,678		0.0
	532,000	⁽²⁾	Macy's Retail Holdings, Inc., 3.625%, 06/01/2024		514,922		0.0
	500,000		Marriott International, Inc./MD, 2.300%, 01/15/2022		479,668		0.0
	500,000		Marriott International, Inc./MD, 3.125%, 02/15/2023		488,851		0.0
	1,000,000		Marriott International, Inc./MD, 3.000%, 03/01/2019		1,000,226		0.1
	1,000,000		McDonald's Corp., 2.100%, 12/07/2018		998,201		0.0
	1,000,000		McDonald's Corp., 2.750%, 12/09/2020		993,539		0.0
	500,000		McDonald's Corp., 3.700%, 01/30/2026		497,006		0.0
	400,000		McDonald's Corp., 4.600%, 05/26/2045		404,810		0.0
	500,000		McDonald's Corp., 4.700%, 12/09/2035		522,266		0.0
	325,000		McDonalds Corp., 6.300%, 10/15/2037		398,848		0.0
	1,250,000		Mohawk Industries, Inc., 3.850%, 02/01/2023		1,262,469		0.1
	300,000		Newell Brands, Inc., 2.150%, 10/15/2018		299,349		0.0
	250,000		Newell Brands, Inc., 2.875%, 12/01/2019		249,158		0.0
	250,000		Newell Brands, Inc., 3.150%, 04/01/2021		247,824		0.0
	250,000		Newell Brands, Inc., 3.850%, 04/01/2023		246,437		0.0
	250,000		Newell Brands, Inc., 4.200%, 04/01/2026		241,671		0.0
	250,000		Newell Brands, Inc., 5.375%, 04/01/2036		249,102		0.0
	500,000		NIKE, Inc., 2.375%, 11/01/2026		455,459		0.0
	500,000		NIKE, Inc., 3.375%, 11/01/2046		444,582		0.0
	250,000	⁽¹⁾	Nissan Motor Acceptance Corp., 2.000%, 03/08/2019		248,679		0.0
	2,000,000		Nordstrom, Inc., 4.750%, 05/01/2020		2,045,520		0.1
	300,000		O'Reilly Automotive, Inc., 3.800%, 09/01/2022		303,538		0.0
	1,000,000		PACCAR Financial Corp., 2.050%, 11/13/2020		976,216		0.0
	250,000		Starbucks Corp., 2.000%, 12/05/2018		249,390		0.0
	1,750,000		Starbucks Corp., 3.100%, 03/01/2023		1,716,920		0.1
	750,000		Target Corp., 2.900%, 01/15/2022		748,333		0.0
	1,000,000		Target Corp., 3.500%, 07/01/2024		1,004,466		0.1
	500,000		TJX Cos, Inc./The, 2.500%, 05/15/2023		481,888		0.0
	1,070,000		Toyota Motor Credit Corp., 1.700%, 02/19/2019		1,064,275		0.1
	590,000		Toyota Motor Credit Corp., 2.250%, 10/18/2023		555,879		0.0
	1,000,000		Toyota Motor Credit Corp., 2.700%, 01/11/2023		974,084		0.0
	1,000,000		Toyota Motor Credit Corp., 3.050%, 01/11/2028		952,153		0.0
	500,000		Toyota Motor Credit Corp., 3.200%, 01/11/2027		482,964		0.0
	451,648		United Airlines 2015-1 Class AA Pass Through Trust, 3.450%, 12/01/2027		436,994		0.0
	243,405		United Airlines 2016-1 Class A Pass Through Trust, 3.450%, 01/07/2030		235,610		0.0

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Cyclical: (continued)
	243,404		United Airlines 2016-1 Class AA Pass Through Trust, 3.100%, 01/07/2030		231,211		0.0
	1,000,000		United Airlines 2018-1 Class AA Pass Through Trust, 3.500%, 09/01/2031		972,633		0.0
	250,000		Walgreens Boots Alliance, Inc., 2.700%, 11/18/2019		249,028		0.0
	250,000		Walgreens Boots Alliance, Inc., 3.300%, 11/18/2021		248,636		0.0
	250,000		Walgreens Boots Alliance, Inc., 3.450%, 06/01/2026		233,569		0.0
	250,000		Walgreens Boots Alliance, Inc., 3.800%, 11/18/2024		245,778		0.0
	250,000		Walgreens Boots Alliance, Inc., 4.500%, 11/18/2034		236,765		0.0
	250,000		Walgreens Boots Alliance, Inc., 4.650%, 06/01/2046		230,922		0.0
	250,000		Walgreens Boots Alliance, Inc., 4.800%, 11/18/2044		236,074		0.0
	1,000,000		Walmart, Inc., 1.900%, 12/15/2020		980,878		0.0
	1,500,000		Walmart, Inc., 2.350%, 12/15/2022		1,448,319		0.1
	1,000,000		Walmart, Inc., 3.125%, 06/23/2021		1,005,308		0.1
	1,000,000		Walmart, Inc., 3.300%, 04/22/2024		995,946		0.0
	1,000,000		Walmart, Inc., 3.400%, 06/26/2023		1,007,773		0.1
	1,000,000		Walmart, Inc., 3.700%, 06/26/2028		1,007,805		0.1
	1,000,000		Walmart, Inc., 3.550%, 06/26/2025		1,007,060		0.1
	300,000	⁽²⁾	Whirlpool Corp., 3.700%, 05/01/2025		296,410		0.0
	200,000		Whirlpool Corp., 4.000%, 03/01/2024		202,074		0.0
					65,065,672		1.9

			Consumer, Non-cyclical: 5.5%
	88,000		Abbott Laboratories, 2.350%, 11/22/2019		87,512		0.0
	500,000		Abbott Laboratories, 2.900%, 11/30/2021		492,626		0.0
	500,000		Abbott Laboratories, 3.250%, 04/15/2023		493,357		0.0
	500,000		Abbott Laboratories, 3.400%, 11/30/2023		493,731		0.0
	500,000		Abbott Laboratories, 3.750%, 11/30/2026		492,162		0.0
	339,000		Abbott Laboratories, 4.750%, 11/30/2036		358,471		0.0
	500,000		Abbott Laboratories, 4.750%, 04/15/2043		522,014		0.0
	500,000		Abbott Laboratories, 4.900%, 11/30/2046		537,057		0.0
	500,000		AbbVie, Inc., 2.300%, 05/14/2021		486,160		0.0
	500,000		AbbVie, Inc., 2.500%, 05/14/2020		494,026		0.0
	500,000		AbbVie, Inc., 2.850%, 05/14/2023		481,922		0.0
	250,000		AbbVie, Inc., 3.200%, 11/06/2022		246,049		0.0
	1,500,000		AbbVie, Inc., 3.200%, 05/14/2026		1,401,191		0.1
	1,250,000		AbbVie, Inc., 3.600%, 05/14/2025		1,212,089		0.1
	500,000		AbbVie, Inc., 4.300%, 05/14/2036		479,657		0.0
	500,000		AbbVie, Inc., 4.450%, 05/14/2046		479,607		0.0
	1,000,000		AbbVie, Inc., 4.500%, 05/14/2035		982,842		0.0
	250,000		AbbVie, Inc., 4.700%, 05/14/2045		248,754		0.0
	500,000		Allergan Finance LLC, 3.250%, 10/01/2022		486,105		0.0
	1,000,000		Allergan Funding SCS, 3.000%, 03/12/2020		995,403		0.1
	500,000		Allergan Funding SCS, 3.450%, 03/15/2022		492,287		0.0
	750,000		Allergan Funding SCS, 3.800%, 03/15/2025		729,134		0.0
	750,000		Allergan Funding SCS, 4.550%, 03/15/2035		713,195		0.0
	500,000		Allergan, Inc./United States, 2.800%, 03/15/2023		472,452		0.0
	400,000		Aetna, Inc., 2.200%, 03/15/2019		398,796		0.0
	500,000		Aetna, Inc., 2.750%, 11/15/2022		480,947		0.0
	1,283,000		Aetna, Inc., 2.800%, 06/15/2023		1,224,507		0.1
	250,000		Aetna, Inc., 3.500%, 11/15/2024		243,087		0.0
	300,000		Aetna, Inc., 4.500%, 05/15/2042		295,059		0.0
	500,000		Altria Group, Inc., 2.850%, 08/09/2022		488,329		0.0
	500,000		Altria Group, Inc., 2.950%, 05/02/2023		486,525		0.0
	1,000,000		Altria Group, Inc., 4.000%, 01/31/2024		1,012,896		0.1
	300,000		Altria Group, Inc., 4.250%, 08/09/2042		280,290		0.0
	500,000		AmerisourceBergen Corp., 3.400%, 05/15/2024		492,639		0.0
	250,000		AmerisourceBergen Corp., 4.250%, 03/01/2045		220,454		0.0
	500,000		Amgen, Inc., 2.250%, 08/19/2023		468,939		0.0
	250,000		Amgen, Inc., 3.625%, 05/22/2024		249,184		0.0
	4,400,000		Amgen, Inc., 3.875%, 11/15/2021		4,465,973		0.2
	1,500,000		Amgen, Inc., 4.400%, 05/01/2045		1,440,319		0.1
	1,000,000		Anheuser-Busch InBev Finance, Inc., 2.650%, 02/01/2021		986,615		0.0
	1,500,000		Anheuser-Busch InBev Finance, Inc., 3.300%, 02/01/2023		1,488,543		0.1

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical: (continued)
	2,000,000		Anheuser-Busch InBev Finance, Inc., 3.650%, 02/01/2026		1,960,500		0.1
	2,000,000		Anheuser-Busch InBev Finance, Inc., 4.700%, 02/01/2036		2,031,675		0.1
	3,500,000		Anheuser-Busch InBev Finance, Inc., 4.900%, 02/01/2046		3,612,144		0.1
	1,000,000		Anheuser-Busch InBev Worldwide, Inc., 3.750%, 01/15/2022		1,014,159		0.1
	250,000		Anheuser-Busch InBev Worldwide, Inc., 3.750%, 07/15/2042		220,518		0.0
	750,000		Anheuser-Busch InBev Worldwide, Inc., 8.200%, 01/15/2039		1,074,696		0.1
	250,000		Anthem, Inc., 2.250%, 08/15/2019		247,967		0.0
	1,000,000		Anthem, Inc., 2.300%, 07/15/2018		999,882		0.1
	250,000		Anthem, Inc., 3.500%, 08/15/2024		243,865		0.0
	1,000,000		Anthem, Inc., 3.650%, 12/01/2027		948,773		0.0
	750,000		Anthem, Inc., 4.101%, 03/01/2028		736,435		0.0
	250,000		Anthem, Inc., 4.650%, 08/15/2044		244,576		0.0
	750,000		AstraZeneca PLC, 1.950%, 09/18/2019		742,101		0.0
	1,400,000		AstraZeneca PLC, 6.450%, 09/15/2037		1,741,969		0.1
	500,000		Automatic Data Processing, Inc., 3.375%, 09/15/2025		495,139		0.0
	1,000,000	⁽¹⁾	BAT Capital Corp., 3.222%, 08/15/2024		948,131		0.0
	1,000,000	⁽¹⁾	BAT Capital Corp., 3.557%, 08/15/2027		931,822		0.0
	750,000		Baxalta, Inc., 4.000%, 06/23/2025		735,112		0.0
	4,370,000		Becton Dickinson & Co., 3.125%, 11/08/2021		4,309,621		0.1
	1,000,000		Biogen, Inc., 2.900%, 09/15/2020		996,157		0.1
	750,000		Biogen, Inc., 4.050%, 09/15/2025		754,781		0.0
	400,000		Boston Scientific Corp., 2.850%, 05/15/2020		397,188		0.0
	400,000		Boston Scientific Corp., 3.375%, 05/15/2022		394,854		0.0
	500,000		Bristol-Myers Squibb Co., 3.250%, 08/01/2042		433,661		0.0
	1,000,000		Campbell Soup Co., 3.300%, 03/15/2021		996,434		0.1
	500,000		Cardinal Health, Inc., 3.200%, 03/15/2023		484,830		0.0
	500,000		Cardinal Health, Inc., 4.900%, 09/15/2045		480,012		0.0
	500,000		Celgene Corp., 3.875%, 08/15/2025		486,477		0.0
	250,000		Celgene Corp., 3.625%, 05/15/2024		244,122		0.0
	2,945,000		Celgene Corp., 3.950%, 10/15/2020		2,985,288		0.1
	1,000,000		Celgene Corp., 4.000%, 08/15/2023		1,009,294		0.1
	500,000		Celgene Corp., 4.625%, 05/15/2044		465,455		0.0
	500,000		Celgene Corp., 5.000%, 08/15/2045		491,018		0.0
	750,000		Cigna Corp., 3.250%, 04/15/2025		706,073		0.0
	2,000,000		Cigna Corp., 4.000%, 02/15/2022		2,029,048		0.1
	2,500,000		Cigna Corp., 5.125%, 06/15/2020		2,580,592		0.1
	750,000		Clorox Co/The, 3.050%, 09/15/2022		741,064		0.0
	3,000,000		Coca-Cola Co., 3.150%, 11/15/2020		3,017,736		0.1
	1,000,000		Coca-Cola Co/The, 3.200%, 11/01/2023		997,622		0.1
	750,000		Colgate-Palmolive Co., 2.250%, 11/15/2022		726,420		0.0
	426,000		Conagra Brands, Inc., 3.200%, 01/25/2023		410,474		0.0
	1,000,000		Constellation Brands, Inc., 3.200%, 02/15/2023		973,743		0.0
	1,000,000		Constellation Brands, Inc., 3.600%, 02/15/2028		946,688		0.0
	500,000		Coventry Health Care, Inc., 5.450%, 06/15/2021		526,335		0.0
	500,000		Covidien International Finance SA, 3.200%, 06/15/2022		496,437		0.0
	250,000		CVS Health Corp., 2.250%, 12/05/2018		249,346		0.0
	250,000		CVS Health Corp., 2.250%, 08/12/2019		248,011		0.0
	750,000		CVS Health Corp., 2.750%, 12/01/2022		719,329		0.0
	500,000		CVS Health Corp., 2.800%, 07/20/2020		496,005		0.0
	1,000,000		CVS Health Corp., 3.125%, 03/09/2020		999,081		0.1
	2,000,000		CVS Health Corp., 3.350%, 03/09/2021		1,998,931		0.1
	250,000		CVS Health Corp., 3.375%, 08/12/2024		241,559		0.0
	1,000,000		CVS Health Corp., 3.500%, 07/20/2022		992,881		0.1
	1,000,000		CVS Health Corp., 3.700%, 03/09/2023		990,874		0.0
	443,000		CVS Health Corp., 3.875%, 07/20/2025		433,694		0.0
	1,000,000		CVS Health Corp., 4.100%, 03/25/2025		995,970		0.1
	250,000		CVS Health Corp., 4.000%, 12/05/2023		251,242		0.0
	1,000,000		CVS Health Corp., 4.300%, 03/25/2028		987,960		0.0
	1,000,000		CVS Health Corp., 4.780%, 03/25/2038		991,588		0.0
	1,000,000		CVS Health Corp., 5.050%, 03/25/2048		1,013,863		0.1
	1,000,000		CVS Health Corp., 5.125%, 07/20/2045		1,016,199		0.1
	200,000		CVS Health Corp., 5.300%, 12/05/2043		209,572		0.0

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical: (continued)
	750,000		Diageo Capital PLC, 2.625%, 04/29/2023		726,176		0.0
	1,000,000		Diageo Capital PLC, 3.500%, 09/18/2023		1,003,732		0.1
	1,000,000		Diageo Capital PLC, 3.875%, 05/18/2028		1,009,192		0.1
	500,000		Diageo Investment Corp., 2.875%, 05/11/2022		492,693		0.0
	250,000		Dr Pepper Snapple Group, Inc., 3.400%, 11/15/2025		236,496		0.0
	350,000		Dr Pepper Snapple Group, Inc., 4.500%, 11/15/2045		325,292		0.0
	750,000		Keurig Dr Pepper, Inc., 2.000%, 01/15/2020		734,637		0.0
	591,000		Ecolab, Inc., 4.350%, 12/08/2021		610,434		0.0
	750,000		Eli Lilly & Co., 2.350%, 05/15/2022		729,872		0.0
	750,000		Eli Lilly & Co., 3.100%, 05/15/2027		718,452		0.0
	500,000		Eli Lilly & Co., 3.700%, 03/01/2045		474,334		0.0
	500,000	⁽¹⁾	ERAC USA Finance LLC, 2.350%, 10/15/2019		494,528		0.0
	500,000	⁽¹⁾	ERAC USA Finance LLC, 3.850%, 11/15/2024		498,146		0.0
	300,000		Estee Lauder Cos, Inc./The, 3.700%, 08/15/2042		288,443		0.0
	400,000		Express Scripts Holding Co., 2.250%, 06/15/2019		397,195		0.0
	500,000		Express Scripts Holding Co., 3.000%, 07/15/2023		474,662		0.0
	500,000		Express Scripts Holding Co., 3.400%, 03/01/2027		457,522		0.0
	250,000		Express Scripts Holding Co., 3.500%, 06/15/2024		240,355		0.0
	500,000		Express Scripts Holding Co., 4.800%, 07/15/2046		476,879		0.0
	350,000		Flowers Foods, Inc., 4.375%, 04/01/2022		359,583		0.0
	750,000		General Mills, Inc., 4.150%, 02/15/2043		663,868		0.0
	500,000		Gilead Sciences, Inc., 1.950%, 03/01/2022		476,432		0.0
	350,000		Gilead Sciences, Inc., 2.050%, 04/01/2019		348,362		0.0
	500,000		Gilead Sciences, Inc., 2.500%, 09/01/2023		476,813		0.0
	1,500,000		Gilead Sciences, Inc., 2.950%, 03/01/2027		1,402,277		0.1
	1,000,000		Gilead Sciences, Inc., 3.250%, 09/01/2022		994,517		0.1
	750,000		Gilead Sciences, Inc., 3.500%, 02/01/2025		739,095		0.0
	260,000		Gilead Sciences, Inc., 3.650%, 03/01/2026		256,864		0.0
	750,000		Gilead Sciences, Inc., 3.700%, 04/01/2024		751,705		0.0
	250,000		Gilead Sciences, Inc., 4.150%, 03/01/2047		239,289		0.0
	200,000		Gilead Sciences, Inc., 4.500%, 02/01/2045		200,211		0.0
	250,000		Gilead Sciences, Inc., 4.750%, 03/01/2046		258,438		0.0
	350,000		Gilead Sciences, Inc., 4.800%, 04/01/2044		365,326		0.0
	500,000		GlaxoSmithKline Capital, Inc., 2.800%, 03/18/2023		487,584		0.0
	500,000		GlaxoSmithKline Capital, Inc., 6.375%, 05/15/2038		642,990		0.0
	750,000		Hershey Co/The, 2.300%, 08/15/2026		678,910		0.0
	2,050,000		Humana, Inc., 3.150%, 12/01/2022		1,996,844		0.1
	1,750,000		Humana, Inc., 3.850%, 10/01/2024		1,748,472		0.1
	500,000		Johnson & Johnson, 2.250%, 03/03/2022		489,071		0.0
	1,000,000		Johnson & Johnson, 2.450%, 03/01/2026		938,872		0.0
	1,000,000		Johnson & Johnson, 2.900%, 01/15/2028		955,251		0.0
	500,000		Johnson & Johnson, 2.950%, 03/03/2027		481,313		0.0
	1,000,000		Johnson & Johnson, 3.625%, 03/03/2037		978,489		0.0
	500,000		Johnson & Johnson, 3.750%, 03/03/2047		490,014		0.0
	500,000		Kellogg Co., 3.250%, 04/01/2026		468,839		0.0
	551,000		Kellogg Co., 4.000%, 12/15/2020		562,358		0.0
	750,000		Kraft Heinz Foods Co., 3.000%, 06/01/2026		676,324		0.0
	750,000		Kraft Heinz Foods Co., 3.500%, 06/06/2022		743,668		0.0
	750,000		Kraft Heinz Foods Co., 3.950%, 07/15/2025		729,886		0.0
	250,000		Kraft Heinz Foods Co., 4.375%, 06/01/2046		216,924		0.0
	500,000		Kraft Heinz Foods Co., 5.000%, 07/15/2035		493,662		0.0
	500,000		Kraft Heinz Foods Co., 5.200%, 07/15/2045		487,791		0.0
	3,266,000		Kraft Heinz Foods Co., 6.125%, 08/23/2018		3,282,772		0.1
	400,000		Kroger Co., 2.300%, 01/15/2019		398,715		0.0
	400,000		Kroger Co/The, 3.300%, 01/15/2021		399,499		0.0
	1,000,000		Kroger Co/The, 3.850%, 08/01/2023		1,002,741		0.1
	879,000		Kroger Co/The, 7.500%, 04/01/2031		1,089,393		0.1
	250,000		Laboratory Corp. of America Holdings, 2.625%, 02/01/2020		248,094		0.0
	250,000		Laboratory Corp. of America Holdings, 3.200%, 02/01/2022		247,452		0.0
	250,000		Laboratory Corp. of America Holdings, 4.700%, 02/01/2045		245,320		0.0
	500,000		McKesson Corp., 2.284%, 03/15/2019		498,201		0.0

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Consumer, Non-cyclical: (continued)
	500,000		McKesson Corp., 2.850%, 03/15/2023		478,571		0.0
	400,000		McKesson Corp., 3.796%, 03/15/2024		395,178		0.0
	350,000		Mead Johnson Nutrition Co., 3.000%, 11/15/2020		348,645		0.0
	250,000		Mead Johnson Nutrition Co., 4.600%, 06/01/2044		261,039		0.0
	500,000		Medtronic Global Holdings SCA, 1.700%, 03/28/2019		496,850		0.0
	750,000		Medtronic, Inc., 2.500%, 03/15/2020		744,954		0.0
	1,000,000		Medtronic, Inc., 3.150%, 03/15/2022		992,242		0.0
	1,000,000		Medtronic, Inc., 3.500%, 03/15/2025		990,100		0.0
	1,000,000		Medtronic, Inc., 4.375%, 03/15/2035		1,035,405		0.1
	250,000		Medtronic, Inc., 4.625%, 03/15/2044		263,719		0.0
	500,000		Medtronic, Inc., 4.625%, 03/15/2045		530,835		0.0
	250,000		Merck & Co., Inc., 1.850%, 02/10/2020		246,316		0.0
	1,000,000		Merck & Co., Inc., 2.750%, 02/10/2025		956,563		0.0
	250,000		Merck & Co., Inc., 3.700%, 02/10/2045		238,057		0.0
	1,000,000		Merck & Co., Inc., 4.150%, 05/18/2043		1,028,214		0.1
	500,000		Molson Coors Brewing Co., 5.000%, 05/01/2042		504,531		0.0
	1,000,000	⁽¹⁾	Mylan, Inc., 4.550%, 04/15/2028		978,778		0.0
	1,000,000		Mylan NV, 3.150%, 06/15/2021		989,362		0.0
	1,000,000		Mylan NV, 3.950%, 06/15/2026		957,497		0.0
	1,000,000		Mylan, Inc., 4.200%, 11/29/2023		1,001,768		0.1
	500,000		Novartis Capital Corp., 2.400%, 05/17/2022		485,798		0.0
	500,000		Novartis Capital Corp., 3.100%, 05/17/2027		480,407		0.0
	500,000		Novartis Capital Corp., 3.400%, 05/06/2024		499,079		0.0
	500,000		PepsiCo, Inc., 2.250%, 05/02/2022		483,723		0.0
	250,000		PepsiCo, Inc., 4.250%, 10/22/2044		255,257		0.0
	2,405,000		PepsiCo, Inc., 4.875%, 11/01/2040		2,675,192		0.1
	1,000,000		PepsiCo, Inc., 3.600%, 03/01/2024		1,011,586		0.1
	750,000		Perrigo Finance Unlimited Co., 3.900%, 12/15/2024		728,987		0.0
	750,000		Pfizer, Inc., 3.400%, 05/15/2024		752,186		0.0
	500,000		Pfizer, Inc., 4.125%, 12/15/2046		505,158		0.0
	500,000		Pfizer, Inc., 4.000%, 12/15/2036		500,861		0.0
	1,000,000		Pfizer, Inc., 4.300%, 06/15/2043		1,023,690		0.1
	500,000		Philip Morris International, Inc., 1.875%, 02/25/2021		484,241		0.0
	500,000		Philip Morris International, Inc., 2.125%, 05/10/2023		468,782		0.0
	500,000		Philip Morris International, Inc., 2.000%, 02/21/2020		492,064		0.0
	750,000		Philip Morris International, Inc., 2.500%, 11/02/2022		719,745		0.0
	500,000		Philip Morris International, Inc., 2.625%, 02/18/2022		487,488		0.0
	500,000		Philip Morris International, Inc., 2.750%, 02/25/2026		464,761		0.0
	500,000	⁽²⁾	Philip Morris International, Inc., 3.125%, 03/02/2028		472,452		0.0
	250,000		Philip Morris International, Inc., 3.250%, 11/10/2024		242,881		0.0
	500,000		Philip Morris International, Inc., 4.250%, 11/10/2044		474,448		0.0
	500,000		Reynolds American, Inc., 5.700%, 08/15/2035		537,980		0.0
	1,250,000		Reynolds American, Inc., 6.150%, 09/15/2043		1,422,721		0.1
	3,000,000		Reynolds American, Inc., 8.125%, 06/23/2019		3,145,364		0.1
	1,000,000		Sanofi, 3.375%, 06/19/2023		1,001,375		0.1
	1,000,000		Sanofi, 3.625%, 06/19/2028		995,276		0.1
	3,330,000		Sanofi, 4.000%, 03/29/2021		3,412,520		0.1
	750,000		Shire Acquisitions Investments Ireland DAC, 2.400%, 09/23/2021		718,512		0.0
	500,000		Stryker Corp., 3.500%, 03/15/2026		486,089		0.0
	500,000		Thermo Fisher Scientific, Inc., 3.000%, 04/15/2023		486,520		0.0
	400,000		Thermo Fisher Scientific, Inc., 3.300%, 02/15/2022		397,898		0.0
	250,000		Thermo Fisher Scientific, Inc., 4.150%, 02/01/2024		253,956		0.0
	150,000		Tyson Foods, Inc., 2.650%, 08/15/2019		149,436		0.0
	750,000		Tyson Foods, Inc., 3.550%, 06/02/2027		710,614		0.0
	750,000		Unilever Capital Corp., 4.250%, 02/10/2021		770,680		0.0
	750,000		UnitedHealth Group, Inc., 1.625%, 03/15/2019		744,597		0.0
	300,000		UnitedHealth Group, Inc., 2.300%, 12/15/2019		298,464		0.0

See Accompanying Notes to Financial Statements

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Consumer, Non-cyclical: (continued)
	1,000,000	UnitedHealth Group, Inc., 2.375%, 10/15/2022		961,788		0.0
	500,000	UnitedHealth Group, Inc., 2.750%, 02/15/2023		484,182		0.0
	300,000	UnitedHealth Group, Inc., 2.875%, 12/15/2021		297,131		0.0
	500,000	UnitedHealth Group, Inc., 2.875%, 03/15/2023		487,404		0.0
	500,000	UnitedHealth Group, Inc., 2.950%, 10/15/2027		466,942		0.0
	500,000	UnitedHealth Group, Inc., 3.100%, 03/15/2026		476,723		0.0
	2,000,000	UnitedHealth Group, Inc., 3.375%, 11/15/2021		2,011,591		0.1
	1,000,000	UnitedHealth Group, Inc., 3.500%, 06/15/2023		1,001,482		0.1
	1,000,000	UnitedHealth Group, Inc., 3.850%, 06/15/2028		1,002,373		0.1
	1,000,000	UnitedHealth Group, Inc., 4.250%, 04/15/2047		998,160		0.1
	250,000	UnitedHealth Group, Inc., 4.625%, 07/15/2035		263,239		0.0
	250,000	UnitedHealth Group, Inc., 4.750%, 07/15/2045		267,511		0.0
	400,000	Verisk Analytics, Inc., 5.500%, 06/15/2045		413,446		0.0
	500,000	Zoetis, Inc., 3.450%, 11/13/2020		501,761		0.0
	500,000	Zoetis, Inc., 4.500%, 11/13/2025		518,025		0.0
				181,880,337		5.5

		Energy: 2.8%
	500,000	Anadarko Petroleum Corp., 3.450%, 07/15/2024		482,274		0.0
	1,000,000	Anadarko Petroleum Corp., 4.500%, 07/15/2044		933,986		0.1
	625,000	Anadarko Petroleum Corp., 8.700%, 03/15/2019		649,417		0.0
	543,000	Apache Corp., 3.250%, 04/15/2022		529,795		0.0
	500,000	Apache Corp., 4.250%, 01/15/2044		443,348		0.0
	250,000	Boardwalk Pipelines L.P., 4.950%, 12/15/2024		254,748		0.0
	500,000	Boardwalk Pipelines L.P., 5.950%, 06/01/2026		536,856		0.0
	500,000	BP Capital Markets PLC, 2.112%, 09/16/2021		483,101		0.0
	500,000	BP Capital Markets PLC, 2.315%, 02/13/2020		495,302		0.0
	500,000	BP Capital Markets PLC, 2.520%, 09/19/2022		482,484		0.0
	1,000,000	BP Capital Markets PLC, 2.750%, 05/10/2023		968,317		0.1
	500,000	BP Capital Markets PLC, 3.017%, 01/16/2027		473,207		0.0
	500,000	BP Capital Markets PLC, 3.062%, 03/17/2022		495,986		0.0
	250,000	BP Capital Markets PLC, 3.119%, 05/04/2026		239,403		0.0
	500,000	BP Capital Markets PLC, 3.216%, 11/28/2023		490,590		0.0
	250,000	BP Capital Markets PLC, 3.535%, 11/04/2024		248,174		0.0
	500,000	BP Capital Markets PLC, 3.814%, 02/10/2024		505,290		0.0
	250,000	Canadian Natural Resources Ltd., 3.800%, 04/15/2024		248,002		0.0
	500,000	Chevron Corp., 1.561%, 05/16/2019		495,752		0.0
	500,000	Chevron Corp., 1.991%, 03/03/2020		494,102		0.0
	500,000	Chevron Corp., 2.100%, 05/16/2021		488,437		0.0
	300,000	Chevron Corp., 2.355%, 12/05/2022		286,897		0.0
	500,000	Chevron Corp., 2.498%, 03/03/2022		490,585		0.0
	500,000	Chevron Corp., 2.566%, 05/16/2023		484,008		0.0
	500,000	Chevron Corp., 2.895%, 03/03/2024		486,545		0.0
	500,000	Chevron Corp., 2.954%, 05/16/2026		480,025		0.0
	500,000	Chevron Corp., 3.326%, 11/17/2025		493,858		0.0
	500,000	CNOOC Finance 2013 Ltd., 3.000%, 05/09/2023		482,755		0.0
	750,000	CNOOC Finance 2015 USA LLC, 3.500%, 05/05/2025		724,045		0.0
	750,000	CNOOC Nexen Finance 2014 ULC, 4.250%, 04/30/2024		759,676		0.0
	250,000	CNOOC Nexen Finance 2014 ULC, 4.875%, 04/30/2044		262,749		0.0
	129,000	ConocoPhillips Co., 4.150%, 11/15/2034		129,232		0.0
	500,000	ConocoPhillips Co., 4.300%, 11/15/2044		510,243		0.0
	500,000	ConocoPhillips Co., 4.950%, 03/15/2026		539,563		0.0
	2,000,000	ConocoPhillips, 6.500%, 02/01/2039		2,560,541		0.1

See Accompanying Notes to Financial Statements

100

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Energy: (continued)
	400,000		Devon Energy Corp., 3.250%, 05/15/2022		393,452		0.0
	1,750,000		Devon Energy Corp., 4.000%, 07/15/2021		1,773,140		0.1
	1,000,000		Devon Energy Corp., 5.000%, 06/15/2045		1,020,253		0.1
	500,000		Ecopetrol SA, 4.125%, 01/16/2025		486,250		0.0
	250,000		Enbridge, Inc., 3.500%, 06/10/2024		242,739		0.0
	250,000		Enbridge, Inc., 4.500%, 06/10/2044		229,796		0.0
	500,000		Energy Transfer Partners L.P., 3.600%, 02/01/2023		488,995		0.0
	500,000		Energy Transfer Partners L.P., 4.150%, 10/01/2020		506,305		0.0
	800,000		Energy Transfer Partners L.P., 6.125%, 12/15/2045		802,191		0.0
	1,809,000		Energy Transfer Partners L.P., 6.500%, 02/01/2042		1,866,810		0.1
	400,000		EnLink Midstream Partners L.P., 5.050%, 04/01/2045		326,296		0.0
	500,000		Enterprise Products Operating LLC, 2.850%, 04/15/2021		494,074		0.0
	500,000		Enterprise Products Operating LLC, 3.700%, 02/15/2026		489,206		0.0
	100,000		Enterprise Products Operating LLC, 3.750%, 02/15/2025		99,139		0.0
	500,000		Enterprise Products Operating LLC, 3.950%, 02/15/2027		495,605		0.0
	300,000		Enterprise Products Operating LLC, 4.450%, 02/15/2043		283,137		0.0
	100,000		Enterprise Products Operating LLC, 4.850%, 03/15/2044		99,836		0.0
	1,750,000		Enterprise Products Operating LLC, 4.900%, 05/15/2046		1,758,654		0.1
	400,000		EOG Resources, Inc., 2.450%, 04/01/2020		395,637		0.0
	1,950,000		EOG Resources, Inc., 2.625%, 03/15/2023		1,873,361		0.1
	250,000		EOG Resources, Inc., 4.150%, 01/15/2026		256,018		0.0
	500,000		Exxon Mobil Corp., 2.726%, 03/01/2023		490,871		0.0
	500,000		Exxon Mobil Corp., 3.043%, 03/01/2026		487,439		0.0
	500,000		Exxon Mobil Corp., 4.114%, 03/01/2046		509,741		0.0
	500,000		Halliburton Co., 2.000%, 08/01/2018		499,781		0.0
	500,000		Halliburton Co., 3.500%, 08/01/2023		498,246		0.0
	500,000		Halliburton Co., 3.800%, 11/15/2025		497,186		0.0
	500,000		Halliburton Co., 4.750%, 08/01/2043		504,949		0.0
	500,000		Halliburton Co., 4.850%, 11/15/2035		518,216		0.0
	1,000,000		Hess Corp., 5.600%, 02/15/2041		1,007,252		0.1
	500,000		Kinder Morgan Energy Partners L.P., 3.500%, 03/01/2021		499,403		0.0
	500,000		Kinder Morgan Energy Partners L.P., 3.500%, 09/01/2023		486,970		0.0
	667,000		Kinder Morgan Energy Partners L.P., 3.950%, 09/01/2022		667,352		0.0
	400,000		Kinder Morgan Energy Partners L.P., 4.300%, 05/01/2024		399,435		0.0
	400,000		Kinder Morgan Energy Partners L.P., 5.400%, 09/01/2044		389,328		0.0
	2,825,000		Kinder Morgan Energy Partners L.P., 6.950%, 01/15/2038		3,226,883		0.1
	500,000		Kinder Morgan, Inc./DE, 4.300%, 06/01/2025		498,122		0.0
	500,000		Kinder Morgan, Inc./DE, 5.050%, 02/15/2046		472,807		0.0
	500,000		Kinder Morgan, Inc./DE, 5.550%, 06/01/2045		506,566		0.0
	1,500,000		Magellan Midstream Partners L.P., 4.200%, 12/01/2042		1,351,455		0.1
	600,000		Magellan Midstream Partners L.P., 6.550%, 07/15/2019		621,675		0.0
	500,000		Marathon Oil Corp., 2.800%, 11/01/2022		479,751		0.0
	250,000		Marathon Oil Corp., 3.850%, 06/01/2025		246,210		0.0
	500,000		Marathon Oil Corp., 5.200%, 06/01/2045		527,932		0.0
	400,000		Marathon Petroleum Corp., 4.750%, 09/15/2044		381,670		0.0
	1,000,000		MPLX L.P., 4.000%, 03/15/2028		953,015		0.1
	1,000,000		MPLX L.P., 4.875%, 12/01/2024		1,031,912		0.1
	300,000		Noble Energy, Inc., 3.900%, 11/15/2024		296,075		0.0
	700,000		Noble Energy, Inc., 5.050%, 11/15/2044		701,567		0.0
	500,000		Occidental Petroleum Corp., 4.100%, 02/15/2047		489,372		0.0
	250,000		Occidental Petroleum Corp., 4.625%, 06/15/2045		261,828		0.0
	1,000,000		ONEOK Partners L.P., 6.200%, 09/15/2043		1,125,613		0.1
	125,000	⁽²⁾	Petroleos Mexicanos, 4.250%, 01/15/2025		117,187		0.0
	500,000		Petroleos Mexicanos, 4.875%, 01/18/2024		494,835		0.0
	2,500,000	⁽¹⁾	Petroleos Mexicanos, 5.350%, 02/12/2028		2,372,500		0.1
	500,000		Petroleos Mexicanos, 5.500%, 06/27/2044		423,000		0.0
	3,680,000		Petroleos Mexicanos, 6.000%, 03/05/2020		3,804,200		0.1

See Accompanying Notes to Financial Statements

101

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Energy: (continued)
	2,000,000	Petroleos Mexicanos, 6.625%, 06/15/2038		1,910,000		0.1
	1,000,000	Phillips 66, 2.919%, (US0003M + 0.600%), 02/26/2021		1,001,652		0.1
	1,500,000	Phillips 66, 3.900%, 03/15/2028		1,466,306		0.1
	250,000	Phillips 66, 4.650%, 11/15/2034		251,890		0.0
	500,000	Pioneer Natural Resources Co., 3.950%, 07/15/2022		506,021		0.0
	300,000	Plains All American Pipeline L.P. / PAA Finance Corp., 2.850%, 01/31/2023		282,638		0.0
	275,000	Plains All American Pipeline L.P. / PAA Finance Corp., 3.650%, 06/01/2022		269,734		0.0
	750,000	Plains All American Pipeline L.P. / PAA Finance Corp., 4.650%, 10/15/2025		748,311		0.0
	250,000	Plains All American Pipeline L.P. / PAA Finance Corp., 4.700%, 06/15/2044		220,268		0.0
	500,000	Shell International Finance BV, 1.750%, 09/12/2021		479,095		0.0
	500,000	Shell International Finance BV, 2.250%, 11/10/2020		492,093		0.0
	1,040,000	Shell International Finance BV, 2.875%, 05/10/2026		988,975		0.1
	1,000,000	Shell International Finance BV, 3.250%, 05/11/2025		980,413		0.1
	500,000	Shell International Finance BV, 3.750%, 09/12/2046		465,547		0.0
	1,500,000	Shell International Finance BV, 4.125%, 05/11/2035		1,523,346		0.1
	250,000	Shell International Finance BV, 4.375%, 05/11/2045		256,660		0.0
	600,000	Spectra Energy Partners L.P., 4.500%, 03/15/2045		557,484		0.0
	250,000	Equinor ASA, 2.250%, 11/08/2019		248,250		0.0
	250,000	Equinor ASA, 2.750%, 11/10/2021		246,665		0.0
	500,000	Equinor ASA, 3.950%, 05/15/2043		477,847		0.0
	1,450,000	Suncor Energy, Inc., 6.500%, 06/15/2038		1,801,390		0.1
	500,000	Sunoco Logistics Partners Operations L.P., 3.450%, 01/15/2023		485,753		0.0
	500,000	Sunoco Logistics Partners Operations L.P., 4.400%, 04/01/2021		508,317		0.0
	500,000	Sunoco Logistics Partners Operations L.P., 4.950%, 01/15/2043		435,588		0.0
	2,000,000	TC Pipelines L.P., 4.650%, 06/15/2021		2,027,993		0.1
	500,000	Total Capital Canada Ltd., 2.750%, 07/15/2023		484,088		0.0
	500,000	Total Capital International SA, 2.750%, 06/19/2021		496,428		0.0
	500,000	Total Capital SA, 2.125%, 08/10/2018		499,814		0.0
	3,500,000	Total Capital SA, 4.450%, 06/24/2020		3,600,522		0.1
	2,000,000	TransCanada PipeLines Ltd., 4.625%, 03/01/2034		2,002,664		0.1
	1,000,000	TransCanada Pipelines Ltd., 7.625%, 01/15/2039		1,314,446		0.1
	1,000,000	Valero Energy Corp., 6.625%, 06/15/2037		1,198,465		0.1
	400,000	Williams Partners L.P., 3.600%, 03/15/2022		398,282		0.0
	400,000	Williams Partners L.P., 4.000%, 09/15/2025		391,434		0.0
	500,000	Williams Partners L.P., 4.300%, 03/04/2024		502,205		0.0
	500,000	Williams Partners L.P., 5.100%, 09/15/2045		495,302		0.0
	500,000	Williams Partners L.P., 5.400%, 03/04/2044		516,628		0.0
				91,883,045		2.8

		Financial: 9.4%
	1,000,000	Aflac, Inc., 3.625%, 06/15/2023		1,003,963		0.1
	500,000	American International Group, Inc., 2.300%, 07/16/2019		497,101		0.0
	500,000	American International Group, Inc., 3.300%, 03/01/2021		499,928		0.0
	1,000,000	American International Group, Inc., 3.750%, 07/10/2025		966,642		0.0
	900,000	American International Group, Inc., 4.500%, 07/16/2044		840,248		0.0
	250,000	American International Group, Inc., 4.700%, 07/10/2035		243,470		0.0
	1,500,000	American International Group, Inc., 4.875%, 06/01/2022		1,572,115		0.1
	500,000	Air Lease Corp., 3.000%, 09/15/2023		473,884		0.0
	400,000	Alexandria Real Estate Equities, Inc., 2.750%, 01/15/2020		396,868		0.0
	1,500,000	Allstate Corp./The, 3.150%, 06/15/2023		1,486,229		0.1
	1,000,000	Allstate Corp., 3.280%, 12/15/2026		962,051		0.0
	750,000	American Express Co., 3.000%, 10/30/2024		716,317		0.0

See Accompanying Notes to Financial Statements

102

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	1,000,000		American Express Co., 3.400%, 02/27/2023		990,190		0.1
	500,000		American Express Credit Corp., 2.125%, 07/27/2018		499,889		0.0
	500,000		American Express Credit Corp., 2.200%, 03/03/2020		493,543		0.0
	500,000		American Express Credit Corp., 2.700%, 03/03/2022		489,346		0.0
	500,000		American Tower Corp., 3.375%, 10/15/2026		463,447		0.0
	500,000		American Tower Corp., 3.400%, 02/15/2019		501,426		0.0
	1,000,000		American Tower Corp., 3.500%, 01/31/2023		984,399		0.1
	750,000		American Tower Corp., 3.550%, 07/15/2027		698,604		0.0
	667,000		American Tower Corp., 4.700%, 03/15/2022		687,976		0.0
	1,000,000		Aon PLC, 4.450%, 05/24/2043		940,615		0.0
	500,000		Aon PLC, 4.600%, 06/14/2044		489,225		0.0
	500,000		Aon PLC, 4.750%, 05/15/2045		495,200		0.0
	400,000	⁽²⁾	Assured Guaranty US Holdings, Inc., 5.000%, 07/01/2024		418,368		0.0
	1,000,000		Australia & New Zealand Banking Group Ltd/New York NY, 2.625%, 11/09/2022		962,803		0.0
	500,000		AvalonBay Communities, Inc., 2.850%, 03/15/2023		484,007		0.0
	500,000		AvalonBay Communities, Inc., 2.950%, 09/15/2022		489,425		0.0
	600,000		Banco Santander SA, 3.125%, 02/23/2023		569,765		0.0
	800,000		Banco Santander SA, 3.500%, 04/11/2022		780,820		0.0
	600,000		Banco Santander SA, 3.800%, 02/23/2028		548,893		0.0
	400,000		Banco Santander SA, 4.250%, 04/11/2027		380,751		0.0
	400,000		Banco Santander SA, 5.179%, 11/19/2025		403,550		0.0
	1,000,000		Bank of America Corp., 2.625%, 04/19/2021		982,698		0.1
	500,000		Bank of America Corp., 2.650%, 04/01/2019		499,527		0.0
	1,000,000	⁽³⁾	Bank of America Corp., 2.738%, 01/23/2022		983,027		0.1
	500,000	⁽³⁾	Bank of America Corp., 2.881%, 04/24/2023		486,405		0.0
	1,000,000	⁽³⁾	Bank of America Corp., 3.093%, 10/01/2025		952,862		0.0
	4,000,000		Bank of America Corp., 3.300%, 01/11/2023		3,942,519		0.1
	1,000,000	⁽³⁾	Bank of America Corp., 3.366%, 01/23/2026		962,780		0.0
	2,384,000	⁽³⁾	Bank of America Corp., 3.419%, 12/20/2028		2,246,734		0.1
	1,000,000		Bank of America Corp., 3.500%, 04/19/2026		967,919		0.0
	500,000	⁽³⁾	Bank of America Corp., 3.550%, 03/05/2024		495,035		0.0
	750,000	⁽³⁾	Bank of America Corp., 3.705%, 04/24/2028		723,859		0.0
	1,020,000	⁽³⁾	Bank of America Corp., 3.824%, 01/20/2028		995,671		0.1
	1,500,000		Bank of America Corp., 3.950%, 04/21/2025		1,469,866		0.1
	1,000,000		Bank of America Corp., 4.100%, 07/24/2023		1,017,514		0.1
	1,280,000		Bank of America Corp., 4.183%, 11/25/2027		1,248,500		0.1
	271,000		Bank of America Corp., 4.000%, 04/01/2024		273,476		0.0
	1,000,000		Bank of America Corp., 4.250%, 10/22/2026		988,845		0.1
	2,000,000		Bank of America Corp., 4.450%, 03/03/2026		2,007,512		0.1
	750,000		Bank of Montreal, 2.350%, 09/11/2022		717,352		0.0
	1,000,000	⁽³⁾	Bank of Montreal, 3.803%, 12/15/2032		927,560		0.0
	500,000		Bank of New York Mellon Corp./The, 2.600%, 02/07/2022		489,836		0.0
	750,000	⁽³⁾	Bank of New York Mellon Corp./The, 2.661%, 05/16/2023		728,001		0.0
	1,000,000		Bank of New York Mellon Corp./The, 2.950%, 01/29/2023		978,390		0.0
	750,000		Bank of New York Mellon Corp./The, 3.250%, 05/16/2027		722,806		0.0
	500,000	⁽³⁾	Bank of New York Mellon Corp./The, 3.442%, 02/07/2028		488,352		0.0
	1,000,000		Bank of New York Mellon Corp., 2.100%, 08/01/2018		999,642		0.1
	500,000		Bank of New York Mellon Corp., 2.200%, 08/16/2023		469,480		0.0
	500,000		Bank of New York Mellon Corp., 2.500%, 04/15/2021		490,958		0.0
	700,000		Bank of New York Mellon Corp., 3.000%, 10/30/2028		640,042		0.0
	500,000		Bank of Nova Scotia/The, 2.050%, 06/05/2019		496,773		0.0
	500,000		Bank of Nova Scotia/The, 2.450%, 09/19/2022		481,437		0.0
	1,000,000		Bank of Nova Scotia, 1.850%, 04/14/2020		982,234		0.1
	500,000		Bank of Nova Scotia, 4.500%, 12/16/2025		499,161		0.0
	750,000		Barclays PLC, 2.875%, 06/08/2020		741,403		0.0
	750,000		Barclays PLC, 3.250%, 01/12/2021		740,874		0.0
	750,000		Barclays PLC, 4.375%, 01/12/2026		730,279		0.0
	1,000,000		Barclays PLC, 5.200%, 05/12/2026		984,436		0.1
	250,000		Barclays PLC, 5.250%, 08/17/2045		246,511		0.0

See Accompanying Notes to Financial Statements

103

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	500,000		BB&T Corp., 2.150%, 02/01/2021		486,398		0.0
	250,000		BB&T Corp., 2.450%, 01/15/2020		247,605		0.0
	750,000		BB&T Corp., 2.850%, 10/26/2024		711,923		0.0
	1,000,000		BB&T Corp., 3.950%, 03/22/2022		1,015,730		0.1
	500,000		Berkshire Hathaway Finance Corp., 2.000%, 08/15/2018		499,659		0.0
	1,020,000		Berkshire Hathaway Finance Corp., 3.000%, 05/15/2022		1,018,448		0.1
	1,000,000		Berkshire Hathaway, Inc., 2.750%, 03/15/2023		979,305		0.1
	1,000,000		Berkshire Hathaway, Inc., 3.125%, 03/15/2026		964,153		0.0
	500,000		BlackRock, Inc., 5.000%, 12/10/2019		515,856		0.0
	500,000		BNP Paribas / BNP Paribas US Medium-Term Note Program LLC, 3.250%, 03/03/2023		494,798		0.0
	250,000		BNP Paribas SA, 2.450%, 03/17/2019		249,281		0.0
	1,000,000	⁽¹⁾	BNP Paribas SA, 3.500%, 11/16/2027		929,169		0.0
	3,500,000		Boston Properties L.P., 5.625%, 11/15/2020		3,669,269		0.1
	1,000,000	⁽¹⁾	BPCE SA, 2.750%, 01/11/2023		955,826		0.0
	1,000,000	⁽¹⁾	BPCE SA, 3.250%, 01/11/2028		930,428		0.0
	1,000,000		Branch Banking & Trust Co., 2.250%, 06/01/2020		983,488		0.1
	500,000		Branch Banking & Trust Co., 3.625%, 09/16/2025		492,447		0.0
	400,000		Branch Banking & Trust Co., 3.800%, 10/30/2026		397,737		0.0
	500,000		Capital One Financial Corp., 2.450%, 04/24/2019		498,648		0.0
	500,000		Capital One Financial Corp., 3.200%, 01/30/2023		485,916		0.0
	500,000		Capital One Financial Corp., 3.200%, 02/05/2025		469,939		0.0
	500,000		Capital One Financial Corp., 3.300%, 10/30/2024		475,374		0.0
	500,000		Capital One Financial Corp., 3.750%, 04/24/2024		490,858		0.0
	500,000		Capital One Financial Corp., 3.750%, 07/28/2026		465,230		0.0
	500,000		Capital One Financial Corp., 3.800%, 01/31/2028		472,715		0.0
	500,000		Capital One Financial Corp., 4.200%, 10/29/2025		486,186		0.0
	550,000		Capital One NA, 2.350%, 08/17/2018		549,840		0.0
	1,000,000		Charles Schwab Corp./The, 2.650%, 01/25/2023		973,810		0.0
	1,000,000		Charles Schwab Corp./The, 3.200%, 01/25/2028		960,381		0.0
	1,000,000		Chubb Corp./The, 6.000%, 05/11/2037		1,217,882		0.1
	750,000		Chubb INA Holdings, Inc., 2.700%, 03/13/2023		726,218		0.0
	500,000		Citigroup, Inc., Citibank NA, 2.100%, 06/12/2020		489,809		0.0
	500,000		Citigroup, Inc., 2.500%, 07/29/2019		497,991		0.0
	750,000		Citigroup, Inc., 2.700%, 10/27/2022		720,744		0.0
	500,000	⁽³⁾	Citigroup, Inc., 2.876%, 07/24/2023		482,458		0.0
	1,000,000	⁽³⁾	Citigroup, Inc., 3.142%, 01/24/2023		980,252		0.1
	500,000		Citigroup, Inc., 3.400%, 05/01/2026		475,184		0.0
	1,000,000		Citigroup, Inc., 3.500%, 05/15/2023		978,657		0.1
	1,000,000	⁽³⁾	Citigroup, Inc., 3.878%, 01/24/2039		913,498		0.0
	1,500,000	⁽³⁾	Citigroup, Inc., 3.887%, 01/10/2028		1,454,467		0.1
	750,000		Citigroup, Inc., 4.050%, 07/30/2022		754,535		0.0
	1,500,000		Citigroup, Inc., 4.125%, 07/25/2028		1,437,244		0.1
	700,000		Citigroup, Inc., 4.000%, 08/05/2024		688,856		0.0
	500,000		Citigroup, Inc., 4.300%, 11/20/2026		488,573		0.0
	500,000		Citigroup, Inc., 4.400%, 06/10/2025		497,563		0.0
	1,000,000		Citigroup, Inc., 4.450%, 09/29/2027		984,976		0.1
	500,000		Citigroup, Inc., 4.600%, 03/09/2026		499,922		0.0
	793,000		Citigroup, Inc., 5.300%, 05/06/2044		818,714		0.0
	615,000		Citigroup, Inc., 8.125%, 07/15/2039		867,090		0.0
	500,000		Citizens Bank NA/Providence RI, 2.550%, 05/13/2021		487,977		0.0
	1,000,000		CME Group, Inc., 3.000%, 09/15/2022		989,648		0.1
	300,000		CNA Financial Corp., 4.500%, 03/01/2026		306,353		0.0
	500,000		Comerica Bank, 2.500%, 06/02/2020		493,621		0.0
	500,000		Comerica, Inc., 2.125%, 05/23/2019		497,212		0.0
	250,000		Comerica, Inc., 3.800%, 07/22/2026		244,032		0.0
	250,000		Compass Bank, 2.750%, 09/29/2019		248,698		0.0

See Accompanying Notes to Financial Statements

104

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	500,000		Cooperatieve Rabobank UA/NY, 1.375%, 08/09/2019		491,681		0.0
	500,000		Cooperatieve Rabobank UA/NY, 2.250%, 01/14/2019		499,089		0.0
	500,000		Cooperatieve Rabobank UA, 3.750%, 07/21/2026		468,705		0.0
	500,000		Cooperatieve Rabobank UA, 3.950%, 11/09/2022		495,503		0.0
	500,000		Cooperatieve Rabobank UA, 4.375%, 08/04/2025		490,806		0.0
	750,000		Cooperatieve Rabobank UA, 4.500%, 01/11/2021		771,387		0.0
	750,000	⁽¹⁾	Credit Suisse Group AG, 3.574%, 01/09/2023		735,173		0.0
	750,000	⁽¹⁾	Credit Suisse Group AG, 4.282%, 01/09/2028		730,004		0.0
	1,000,000		Credit Suisse Group Funding Guernsey Ltd., 3.450%, 04/16/2021		996,822		0.1
	1,000,000		Credit Suisse Group Funding Guernsey Ltd., 3.800%, 06/09/2023		988,139		0.1
	1,000,000		Crown Castle International Corp., 3.150%, 07/15/2023		957,508		0.0
	500,000		Deutsche Bank AG/New York NY, 3.150%, 01/22/2021		483,986		0.0
	500,000		Deutsche Bank AG, 2.850%, 05/10/2019		495,717		0.0
	750,000		Deutsche Bank AG/New York NY, 2.950%, 08/20/2020		730,333		0.0
	500,000		Deutsche Bank AG/New York NY, 3.125%, 01/13/2021		482,798		0.0
	500,000		Deutsche Bank AG/New York NY, 3.375%, 05/12/2021		483,905		0.0
	400,000	⁽²⁾	Deutsche Bank AG/New York NY, 4.100%, 01/13/2026		372,100		0.0
	800,000	⁽¹⁾	Dexia Credit Local SA, 2.500%, 01/25/2021		790,368		0.0
	800,000		Discover Bank, 2.600%, 11/13/2018		799,613		0.0
	500,000		Discover Bank, 3.100%, 06/04/2020		497,640		0.0
	500,000		Discover Bank, 3.200%, 08/09/2021		494,629		0.0
	500,000		Discover Bank, 3.350%, 02/06/2023		487,604		0.0
	500,000		Discover Bank, 4.200%, 08/08/2023		504,910		0.0
	400,000		Discover Bank, 4.250%, 03/13/2026		391,498		0.0
	500,000		EPR Properties, 4.500%, 04/01/2025		494,461		0.0
	500,000		ERP Operating L.P., 4.500%, 07/01/2044		508,263		0.0
	750,000		Fifth Third Bancorp, 2.600%, 06/15/2022		726,503		0.0
	2,000,000		Fifth Third Bancorp, 3.500%, 03/15/2022		2,002,336		0.1
	1,000,000		Fifth Third Bancorp, 3.950%, 03/14/2028		987,979		0.1
	400,000		Fifth Third Bancorp, 4.300%, 01/16/2024		405,632		0.0
	500,000		Fifth Third Bank/Cincinnati OH, 2.200%, 10/30/2020		488,815		0.0
	250,000		First Tennessee Bank NA, 2.950%, 12/01/2019		248,923		0.0
	5,801,000		GE Capital International Funding Co. Unlimited Co., 4.418%, 11/15/2035		5,626,483		0.2
	500,000		Goldman Sachs Group, Inc./The, 2.875%, 02/25/2021		493,773		0.0
	1,580,000	⁽³⁾	Goldman Sachs Group, Inc./The, 2.876%, 10/31/2022		1,543,201		0.1
	500,000		Goldman Sachs Group, Inc./The, 3.200%, 02/23/2023		487,581		0.0
	500,000		Goldman Sachs Group, Inc./The, 3.500%, 11/16/2026		471,443		0.0
	500,000		Goldman Sachs Group, Inc./The, 3.750%, 02/25/2026		485,085		0.0
	500,000	⁽³⁾	Goldman Sachs Group, Inc./The, 3.814%, 04/23/2029		475,572		0.0
	500,000		Goldman Sachs Group, Inc./The, 3.850%, 01/26/2027		480,896		0.0
	500,000		Goldman Sachs Group, Inc., 2.550%, 10/23/2019		497,082		0.0
	2,050,000		Goldman Sachs Group, Inc., 3.625%, 01/22/2023		2,037,990		0.1
	500,000		Goldman Sachs Group, Inc., 3.750%, 05/22/2025		488,421		0.0
	1,000,000		Goldman Sachs Group, Inc., 3.850%, 07/08/2024		991,985		0.1
	750,000		Goldman Sachs Group, Inc., 5.750%, 01/24/2022		802,702		0.0
	4,000,000		Goldman Sachs Group, Inc., 6.750%, 10/01/2037		4,759,724		0.2
	500,000		HCP, Inc., 2.625%, 02/01/2020		494,208		0.0
	250,000		HCP, Inc., 3.875%, 08/15/2024		244,721		0.0
	500,000		HCP, Inc., 4.000%, 06/01/2025		489,883		0.0
	500,000		Hospitality Properties Trust, 4.500%, 06/15/2023		502,692		0.0
	500,000		Hospitality Properties Trust, 5.000%, 08/15/2022		514,198		0.0
	750,000		Host Hotels & Resorts L.P., 3.750%, 10/15/2023		735,687		0.0
	400,000		HSBC Holdings PLC, 3.400%, 03/08/2021		399,980		0.0
	300,000		HSBC Holdings PLC, 4.300%, 03/08/2026		300,960		0.0

See Accompanying Notes to Financial Statements

105

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	500,000		HSBC Holdings PLC, 4.375%, 11/23/2026		493,044		0.0
	500,000	⁽³⁾	HSBC Holdings PLC, 4.583%, 06/19/2029		505,417		0.0
	500,000	⁽³⁾	HSBC Holdings PLC, 6.000%, 12/31/2199		465,000		0.0
	3,400,000		HSBC Holdings PLC, 6.500%, 09/15/2037		3,975,545		0.1
	250,000		HSBC USA, Inc., 2.250%, 06/23/2019		248,297		0.0
	250,000		HSBC USA, Inc., 3.500%, 06/23/2024		244,911		0.0
	1,000,000		Huntington Bancshares, Inc./OH, 2.600%, 08/02/2018		1,000,000		0.1
	500,000		ING Groep NV, 3.150%, 03/29/2022		490,914		0.0
	1,000,000		Jefferies Group LLC / Jefferies Group Capital Finance, Inc., 4.150%, 01/23/2030		883,985		0.0
	900,000		Jefferies Group LLC, 5.125%, 01/20/2023		937,919		0.0
	750,000		JPMorgan Chase & Co., 2.700%, 05/18/2023		720,239		0.0
	1,000,000		JPMorgan Chase & Co., 2.750%, 06/23/2020		991,353		0.1
	500,000		JPMorgan Chase & Co., 2.950%, 10/01/2026		464,781		0.0
	750,000		JPMorgan Chase & Co., 3.125%, 01/23/2025		717,650		0.0
	750,000	⁽³⁾	JPMorgan Chase & Co., 3.220%, 03/01/2025		723,816		0.0
	1,500,000		JPMorgan Chase & Co., 3.375%, 05/01/2023		1,465,526		0.1
	1,000,000	⁽³⁾	JPMorgan Chase & Co., 3.509%, 01/23/2029		949,447		0.0
	750,000	⁽³⁾	JPMorgan Chase & Co., 3.540%, 05/01/2028		718,580		0.0
	1,000,000	⁽³⁾	JPMorgan Chase & Co., 3.782%, 02/01/2028		974,986		0.0
	500,000		JPMorgan Chase & Co., 3.875%, 09/10/2024		495,560		0.0
	750,000	⁽³⁾	JPMorgan Chase & Co., 3.882%, 07/24/2038		694,861		0.0
	1,000,000		JPMorgan Chase & Co., 4.125%, 12/15/2026		988,763		0.1
	1,000,000		JPMorgan Chase & Co., 4.250%, 10/01/2027		994,190		0.1
	4,000,000		JPMorgan Chase & Co., 4.500%, 01/24/2022		4,138,640		0.1
	2,375,000		JPMorgan Chase & Co., 5.500%, 10/15/2040		2,645,001		0.1
	1,000,000	⁽³⁾	JPMorgan Chase Bank NA, 2.604%, 02/01/2021		991,480		0.1
	500,000		Kemper Corp., 4.350%, 02/15/2025		497,843		0.0
	500,000		KeyBank NA/Cleveland OH, 2.300%, 09/14/2022		477,359		0.0
	500,000		KeyBank NA/Cleveland OH, 2.350%, 03/08/2019		498,613		0.0
	750,000		KeyBank NA/Cleveland OH, 2.400%, 06/09/2022		720,336		0.0
	1,000,000		KeyBank NA/Cleveland OH, 3.350%, 06/15/2021		1,001,971		0.1
	500,000		KeyBank NA/Cleveland OH, 3.400%, 05/20/2026		476,569		0.0
	400,000		Kilroy Realty L.P., 4.250%, 08/15/2029		391,945		0.0
	250,000		Kilroy Realty L.P., 4.375%, 10/01/2025		250,656		0.0
	3,000,000		Kreditanstalt fuer Wiederaufbau, 1.250%, 09/30/2019		2,952,132		0.1
	1,000,000		Kreditanstalt fuer Wiederaufbau, 1.625%, 03/15/2021		970,055		0.0
	2,000,000		Kreditanstalt fuer Wiederaufbau, 1.875%, 11/30/2020		1,959,905		0.1
	3,000,000		Kreditanstalt fuer Wiederaufbau, 2.125%, 03/07/2022		2,922,316		0.1
	10,000,000		Kreditanstalt fuer Wiederaufbau, 2.625%, 01/25/2022		9,918,995		0.3
	750,000		Liberty Property L.P., 3.250%, 10/01/2026		699,418		0.0
	750,000		Lincoln National Corp., 3.625%, 12/12/2026		712,611		0.0
	1,000,000		Lincoln National Corp., 3.800%, 03/01/2028		957,048		0.0
	1,500,000	⁽²⁾	Lincoln National Corp., 4.200%, 03/15/2022		1,538,105		0.1
	500,000	⁽³⁾	Lloyds Banking Group PLC, 2.907%, 11/07/2023		476,561		0.0
	750,000		Lloyds Banking Group PLC, 3.000%, 01/11/2022		730,944		0.0
	500,000	⁽³⁾	Lloyds Banking Group PLC, 3.574%, 11/07/2028		462,033		0.0
	500,000		Lloyds Banking Group PLC, 4.650%, 03/24/2026		492,590		0.0
	250,000		Loews Corp., 3.750%, 04/01/2026		245,515		0.0
	250,000		Manufacturers & Traders Trust Co., 2.250%, 07/25/2019		248,356		0.0
	1,000,000		Manufacturers & Traders Trust Co., 2.500%, 05/18/2022		967,897		0.0
	1,000,000		Manufacturers & Traders Trust Co., 2.625%, 01/25/2021		984,912		0.1
	500,000	⁽³⁾	Manulife Financial Corp., 4.061%, 02/24/2032		475,162		0.0
	500,000		Manulife Financial Corp., 4.150%, 03/04/2026		499,445		0.0
	500,000		Manulife Financial Corp., 5.375%, 03/04/2046		566,900		0.0
	1,000,000		Markel Corp., 3.625%, 03/30/2023		983,690		0.1
	400,000		Marsh & McLennan Cos, Inc., 3.500%, 03/10/2025		391,638		0.0
	1,000,000		Mastercard, Inc., 3.500%, 02/26/2028		992,420		0.1

See Accompanying Notes to Financial Statements

106

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	500,000		MetLife, Inc., 3.048%, 12/15/2022		491,030		0.0
	500,000		MetLife, Inc., 3.600%, 04/10/2024		496,080		0.0
	1,000,000		MetLife, Inc., 3.600%, 11/13/2025		986,689		0.1
	500,000		MetLife, Inc., 4.050%, 03/01/2045		465,103		0.0
	400,000		MetLife, Inc., 4.125%, 08/13/2042		378,367		0.0
	300,000		MetLife, Inc., 4.721%, 12/15/2044		310,125		0.0
	500,000	⁽¹⁾	Metropolitan Life Global Funding I, 1.950%, 09/15/2021		478,943		0.0
	750,000	⁽¹⁾	Metropolitan Life Global Funding I, 3.450%, 12/18/2026		728,510		0.0
	432,000		Mitsubishi UFJ Financial Group, Inc., 2.950%, 03/01/2021		427,470		0.0
	500,000		Mitsubishi UFJ Financial Group, Inc., 3.455%, 03/02/2023		495,870		0.0
	500,000		Mitsubishi UFJ Financial Group, Inc., 3.777%, 03/02/2025		498,576		0.0
	750,000		Mitsubishi UFJ Financial Group, Inc., 3.850%, 03/01/2026		746,293		0.0
	500,000		Mizuho Financial Group, Inc., 2.601%, 09/11/2022		479,344		0.0
	500,000		Mizuho Financial Group, Inc., 3.170%, 09/11/2027		468,674		0.0
	1,000,000		Mizuho Financial Group, Inc., 3.549%, 03/05/2023		993,068		0.1
	1,000,000		Morgan Stanley, 2.500%, 04/21/2021		977,008		0.0
	750,000		Morgan Stanley, 2.625%, 11/17/2021		728,387		0.0
	1,000,000		Morgan Stanley, 3.125%, 01/23/2023		976,355		0.0
	500,000		Morgan Stanley, 3.125%, 07/27/2026		465,438		0.0
	1,750,000	⁽³⁾	Morgan Stanley, 3.591%, 07/22/2028		1,664,546		0.1
	750,000		Morgan Stanley, 3.625%, 01/20/2027		722,339		0.0
	500,000		Morgan Stanley, 3.700%, 10/23/2024		493,824		0.0
	1,000,000	⁽³⁾	Morgan Stanley, 3.772%, 01/24/2029		964,788		0.0
	750,000		Morgan Stanley, 3.875%, 04/29/2024		751,612		0.0
	500,000		Morgan Stanley, 3.875%, 01/27/2026		492,497		0.0
	750,000		Morgan Stanley, 3.950%, 04/23/2027		716,015		0.0
	1,000,000		Morgan Stanley, 4.100%, 05/22/2023		1,004,582		0.1
	750,000		Morgan Stanley, 4.000%, 07/23/2025		748,174		0.0
	500,000		Morgan Stanley, 4.350%, 09/08/2026		494,632		0.0
	800,000		Morgan Stanley, 4.875%, 11/01/2022		830,328		0.0
	1,000,000		Morgan Stanley, 5.000%, 11/24/2025		1,037,903		0.1
	500,000		MUFG Union Bank NA, 2.250%, 05/06/2019		497,364		0.0
	500,000		National Australia Bank Ltd./New York, 2.500%, 07/12/2026		453,080		0.0
	500,000		National Australia Bank Ltd./New York, 2.800%, 01/10/2022		487,462		0.0
	1,000,000		National Australia Bank Ltd./New York, 2.875%, 04/12/2023		969,841		0.0
	300,000		National Retail Properties, Inc., 4.000%, 11/15/2025		294,700		0.0
	250,000		National Rural Utilities Cooperative Finance Corp., 2.300%, 11/01/2020		245,460		0.0
	1,000,000	⁽³⁾	National Rural Utilities Cooperative Finance Corp., 5.250%, 04/20/2046		1,028,709		0.1
	300,000		Northern Trust Corp., 2.375%, 08/02/2022		290,741		0.0
	750,000	⁽³⁾	Northern Trust Corp., 3.375%, 05/08/2032		705,093		0.0
	250,000		Northern Trust Corp., 3.950%, 10/30/2025		254,694		0.0
	500,000		PNC Bank NA, 2.450%, 07/28/2022		482,761		0.0
	500,000		PNC Bank NA, 2.625%, 02/17/2022		487,634		0.0
	500,000		PNC Bank NA, 2.700%, 11/01/2022		480,782		0.0
	750,000		PNC Bank NA, 3.100%, 10/25/2027		710,453		0.0
	500,000		PNC Bank NA, 3.250%, 06/01/2025		486,558		0.0
	500,000		PNC Bank NA, 3.250%, 01/22/2028		478,328		0.0
	500,000		PNC Financial Services Group, Inc./The, 2.854%, 11/09/2022		486,776		0.0
	500,000		PNC Financial Services Group, Inc./The, 3.300%, 03/08/2022		497,155		0.0
	500,000		Primerica, Inc., 4.750%, 07/15/2022		512,132		0.0
	300,000		Principal Financial Group, Inc., 3.125%, 05/15/2023		293,354		0.0
	1,000,000		Principal Financial Group, Inc., 3.300%, 09/15/2022		992,022		0.1
	1,000,000		Private Export Funding Corp., 1.450%, 08/15/2019		988,562		0.1
	1,000,000		Private Export Funding Corp., 2.250%, 03/15/2020		993,298		0.1
	1,000,000		Private Export Funding Corp., 2.300%, 09/15/2020		988,219		0.1
	1,000,000		Private Export Funding Corp., 3.250%, 06/15/2025		1,009,384		0.1

See Accompanying Notes to Financial Statements

107

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	1,000,000		Private Export Funding Corp., 3.550%, 01/15/2024		1,027,663		0.1
	500,000		Prologis L.P., 4.250%, 08/15/2023		515,632		0.0
	400,000		Protective Life Corp., 7.375%, 10/15/2019		421,222		0.0
	1,000,000		Prudential Financial, Inc., 3.500%, 05/15/2024		992,349		0.1
	1,000,000		Prudential Financial, Inc., 3.878%, 03/27/2028		989,975		0.1
	1,000,000	⁽³⁾	Prudential Financial, Inc., 5.625%, 06/15/2043		1,032,500		0.1
	500,000	⁽³⁾	Prudential Financial, Inc., 5.375%, 05/15/2045		498,750		0.0
	750,000		Public Storage, 2.370%, 09/15/2022		720,448		0.0
	250,000		Public Storage, 3.094%, 09/15/2027		235,381		0.0
	500,000		Raymond James Financial, Inc., 3.625%, 09/15/2026		480,829		0.0
	400,000		Realty Income Corp., 3.875%, 07/15/2024		396,610		0.0
	300,000		Realty Income Corp., 4.125%, 10/15/2026		299,058		0.0
	1,000,000		Regions Financial Corp., 3.200%, 02/08/2021		996,001		0.1
	500,000		Royal Bank of Canada, 2.125%, 03/02/2020		492,528		0.0
	1,000,000		Royal Bank of Canada, 2.150%, 10/26/2020		977,284		0.0
	1,000,000		Royal Bank of Canada, 2.750%, 02/01/2022		982,393		0.1
	500,000		Royal Bank of Canada, 4.650%, 01/27/2026		507,908		0.0
	500,000		Royal Bank of Scotland Group PLC, 4.800%, 04/05/2026		503,459		0.0
	500,000		Santander Holdings USA, Inc., 2.650%, 04/17/2020		495,792		0.0
	406,000		Santander Holdings USA, Inc., 2.700%, 05/24/2019		404,868		0.0
	500,000		Santander UK Group Holdings PLC, 2.875%, 08/05/2021		484,951		0.0
	750,000		Santander UK Group Holdings PLC, 3.125%, 01/08/2021		741,437		0.0
	500,000		Santander UK PLC, 2.500%, 03/14/2019		499,049		0.0
	250,000		Senior Housing Properties Trust, 3.250%, 05/01/2019		249,876		0.0
	250,000		Senior Housing Properties Trust, 4.750%, 05/01/2024		250,453		0.0
	1,000,000		Simon Property Group L.P., 3.375%, 03/15/2022		996,955		0.1
	500,000	⁽²⁾	Simon Property Group L.P., 3.375%, 06/15/2027		478,623		0.0
	500,000	⁽²⁾	Simon Property Group L.P., 4.250%, 10/01/2044		481,605		0.0
	750,000	⁽³⁾	State Street Corp., 2.653%, 05/15/2023		729,277		0.0
	1,500,000		State Street Corp., 3.100%, 05/15/2023		1,479,653		0.1
	500,000		State Street Corp., 3.550%, 08/18/2025		500,065		0.0
	500,000		Sumitomo Mitsui Financial Group, Inc., 2.058%, 07/14/2021		479,667		0.0
	500,000		Sumitomo Mitsui Financial Group, Inc., 2.442%, 10/19/2021		483,011		0.0
	500,000		Sumitomo Mitsui Financial Group, Inc., 2.632%, 07/14/2026		456,496		0.0
	750,000		Sumitomo Mitsui Financial Group, Inc., 2.778%, 10/18/2022		724,589		0.0
	500,000		Sumitomo Mitsui Financial Group, Inc., 2.784%, 07/12/2022		484,172		0.0
	500,000		Sumitomo Mitsui Financial Group, Inc., 3.364%, 07/12/2027		478,948		0.0
	500,000		Sumitomo Mitsui Financial Group, Inc., 3.446%, 01/11/2027		483,243		0.0
	500,000		Sumitomo Mitsui Financial Group, Inc., 3.544%, 01/17/2028		487,369		0.0
	500,000		SunTrust Bank/Atlanta GA, 2.250%, 01/31/2020		494,020		0.0
	500,000		SunTrust Bank/Atlanta GA, 2.750%, 05/01/2023		483,304		0.0
	1,000,000		SunTrust Bank/Atlanta GA, 3.000%, 02/02/2023		979,051		0.1
	500,000		SunTrust Bank/Atlanta GA, 3.300%, 05/15/2026		472,446		0.0
	250,000		SunTrust Banks, Inc., 2.500%, 05/01/2019		249,510		0.0
	500,000		SunTrust Banks, Inc., 2.700%, 01/27/2022		487,442		0.0
	500,000		SunTrust Banks, Inc., 2.900%, 03/03/2021		494,160		0.0
	750,000		Synchrony Bank, 3.000%, 06/15/2022		722,703		0.0
	250,000		Synchrony Financial, 3.000%, 08/15/2019		249,575		0.0
	250,000		Synchrony Financial, 3.750%, 08/15/2021		249,903		0.0
	300,000		Synchrony Financial, 4.250%, 08/15/2024		294,365		0.0
	250,000		Synchrony Financial, 4.500%, 07/23/2025		245,821		0.0
	500,000		Tanger Properties L.P., 3.125%, 09/01/2026		451,811		0.0
	750,000	⁽¹⁾	Toronto-Dominion Bank/The, 2.500%, 01/18/2023		734,386		0.0
	500,000		Toronto-Dominion Bank/The, 3.000%, 06/11/2020		499,304		0.0
	500,000		Toronto-Dominion Bank/The, 3.250%, 06/11/2021		500,021		0.0

See Accompanying Notes to Financial Statements

108

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Financial: (continued)
	750,000		Travelers Cos, Inc./The, 4.000%, 05/30/2047		722,568		0.0
	3,000,000		Travelers Cos, Inc., 3.900%, 11/01/2020		3,051,600		0.1
	700,000		UBS AG/Stamford CT, 2.375%, 08/14/2019		695,751		0.0
	500,000	⁽¹⁾	UBS Group Funding Switzerland AG, 2.950%, 09/24/2020		494,867		0.0
	500,000	⁽¹⁾	UBS Group Funding Switzerland AG, 3.000%, 04/15/2021		492,517		0.0
	500,000		Unum Group, 3.000%, 05/15/2021		492,629		0.0
	750,000		US Bancorp, 2.950%, 07/15/2022		733,034		0.0
	750,000		US Bancorp, 3.150%, 04/27/2027		717,464		0.0
	1,000,000		US Bancorp, 3.000%, 03/15/2022		989,428		0.1
	500,000	⁽³⁾	US Bancorp, 5.125%, 12/31/2199		513,750		0.0
	500,000		US Bank NA/Cincinnati OH, 2.000%, 01/24/2020		492,765		0.0
	1,000,000	⁽³⁾	US Bank NA/Cincinnati OH, 3.104%, 05/21/2021		1,000,159		0.1
	500,000		Ventas Realty L.P. / Ventas Capital Corp., 2.700%, 04/01/2020		494,981		0.0
	600,000		Ventas Realty L.P. / Ventas Capital Corp., 3.250%, 08/15/2022		588,792		0.0
	250,000		Ventas Realty L.P., 3.500%, 02/01/2025		239,668		0.0
	500,000		Ventas Realty L.P., 3.750%, 05/01/2024		492,388		0.0
	500,000		Ventas Realty L.P., 4.125%, 01/15/2026		492,578		0.0
	1,100,000		Visa, Inc., 2.200%, 12/14/2020		1,082,518		0.1
	750,000		Visa, Inc., 2.750%, 09/15/2027		699,334		0.0
	1,000,000		Visa, Inc., 2.800%, 12/14/2022		981,367		0.1
	500,000		Visa, Inc., 3.150%, 12/14/2025		484,092		0.0
	500,000		Visa, Inc., 4.300%, 12/14/2045		521,620		0.0
	1,000,000		Wells Fargo & Co., 2.625%, 07/22/2022		963,814		0.0
	1,500,000		Wells Fargo & Co., 3.069%, 01/24/2023		1,459,102		0.1
	1,000,000		Wells Fargo & Co., 3.000%, 10/23/2026		924,001		0.0
	1,000,000		Wells Fargo & Co., 3.450%, 02/13/2023		980,747		0.1
	750,000		Wells Fargo & Co., 3.550%, 09/29/2025		727,489		0.0
	1,000,000	⁽³⁾	Wells Fargo & Co., 3.584%, 05/22/2028		958,841		0.0
	500,000		Wells Fargo & Co., 4.300%, 07/22/2027		493,474		0.0
	8,000,000		Wells Fargo & Co., 4.600%, 04/01/2021		8,258,357		0.3
	1,983,000		Wells Fargo & Co., 5.606%, 01/15/2044		2,136,327		0.1
	1,000,000		Wells Fargo Bank NA, 2.600%, 01/15/2021		984,512		0.1
	750,000		Wells Fargo Bank NA, 6.600%, 01/15/2038		935,939		0.0
	500,000		Welltower, Inc., 4.000%, 06/01/2025		490,952		0.0
	1,000,000		Westpac Banking Corp., 2.750%, 01/11/2023		953,974		0.0
	750,000	⁽³⁾	Westpac Banking Corp., 4.322%, 11/23/2031		723,633		0.0
	1,000,000		WR Berkley Corp., 4.625%, 03/15/2022		1,033,576		0.1
	400,000		XLIT Ltd., 2.300%, 12/15/2018		398,432		0.0
					312,626,950		9.4

			Industrial: 2.0%
	500,000		3M Co., 2.000%, 06/26/2022		480,448		0.0
	750,000		3M Co., 2.250%, 09/19/2026		680,497		0.0
	1,000,000		3M Co., 2.875%, 10/15/2027		946,843		0.0
	1,000,000		3M Co., 3.000%, 08/07/2025		976,436		0.1
	200,000		3M Co., 3.875%, 06/15/2044		197,482		0.0
	1,300,000		Agilent Technologies, Inc., 3.200%, 10/01/2022		1,278,273		0.1
	1,000,000		Agilent Technologies, Inc., 3.875%, 07/15/2023		997,475		0.1
	400,000		Arrow Electronics, Inc., 3.500%, 04/01/2022		394,716		0.0
	750,000		Boeing Capital Corp., 4.700%, 10/27/2019		769,228		0.0
	500,000		Boeing Co/The, 2.125%, 03/01/2022		484,956		0.0
	500,000		Boeing Co/The, 2.800%, 03/01/2027		471,806		0.0
	500,000		Boeing Co/The, 3.300%, 03/01/2035		463,308		0.0
	500,000		Burlington Northern Santa Fe LLC, 3.000%, 03/15/2023		490,889		0.0
	1,000,000		Burlington Northern Santa Fe LLC, 3.450%, 09/15/2021		1,007,703		0.1
	500,000		Burlington Northern Santa Fe LLC, 4.375%, 09/01/2042		505,061		0.0
	500,000		Burlington Northern Santa Fe LLC, 4.450%, 03/15/2043		511,938		0.0
	500,000		Burlington Northern Santa Fe LLC, 4.700%, 09/01/2045		530,419		0.0
	400,000		Burlington Northern Santa Fe LLC, 4.900%, 04/01/2044		435,232		0.0
	1,000,000		Canadian National Railway Co., 2.250%, 11/15/2022		954,111		0.1
	750,000		Canadian Pacific Railway Co., 4.800%, 09/15/2035		805,140		0.0

See Accompanying Notes to Financial Statements

109

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
		Industrial: (continued)
	750,000	Canadian Pacific Railway Co., 4.800%, 08/01/2045		803,713		0.0
	500,000	Caterpillar Financial Services Corp., 2.100%, 01/10/2020		494,850		0.0
	1,000,000	Caterpillar Financial Services Corp., 2.400%, 08/09/2026		912,051		0.0
	300,000	Caterpillar Financial Services Corp., 2.625%, 03/01/2023		289,674		0.0
	500,000	Caterpillar Financial Services Corp., 3.750%, 11/24/2023		507,678		0.0
	500,000	Caterpillar, Inc., 2.600%, 06/26/2022		486,542		0.0
	250,000	Caterpillar, Inc., 3.400%, 05/15/2024		249,229		0.0
	1,000,000	Caterpillar, Inc., 3.803%, 08/15/2042		957,192		0.1
	250,000	Caterpillar, Inc., 4.300%, 05/15/2044		258,280		0.0
	500,000	CSX Corp., 3.950%, 05/01/2050		442,764		0.0
	500,000	CSX Corp., 4.100%, 03/15/2044		468,741		0.0
	1,000,000	CSX Corp., 4.400%, 03/01/2043		971,494		0.1
	830,000	Cummins, Inc., 7.125%, 03/01/2028		1,023,449		0.1
	500,000	Deere & Co., 3.900%, 06/09/2042		495,240		0.0
	1,010,000	Dover Corp., 4.300%, 03/01/2021		1,037,591		0.1
	250,000	FedEx Corp., 2.300%, 02/01/2020		247,510		0.0
	1,000,000	FedEx Corp., 3.400%, 02/15/2028		953,194		0.1
	200,000	FedEx Corp., 3.875%, 08/01/2042		179,535		0.0
	500,000	FedEx Corp., 4.750%, 11/15/2045		499,437		0.0
	500,000	General Dynamics Corp., 2.250%, 11/15/2022		479,160		0.0
	500,000	General Dynamics Corp., 3.600%, 11/15/2042		478,858		0.0
	500,000	General Electric Co., 2.700%, 10/09/2022		483,979		0.0
	430,000	General Electric Co., 5.875%, 01/14/2038		488,800		0.0
	1,861,000	General Electric Co., 6.750%, 03/15/2032		2,273,627		0.1
	2,600,000	Honeywell International, Inc., 3.812%, 11/21/2047		2,550,007		0.1
	500,000	Illinois Tool Works, Inc., 3.500%, 03/01/2024		507,522		0.0
	500,000	Illinois Tool Works, Inc., 3.900%, 09/01/2042		491,208		0.0
	250,000	Ingersoll-Rand Luxembourg Finance SA, 2.625%, 05/01/2020		247,989		0.0
	250,000	Ingersoll-Rand Luxembourg Finance SA, 4.650%, 11/01/2044		255,154		0.0
	500,000	John Deere Capital Corp., 1.950%, 01/08/2019		498,518		0.0
	750,000	John Deere Capital Corp., 2.800%, 03/04/2021		743,967		0.0
	1,000,000	John Deere Capital Corp., 2.800%, 03/06/2023		976,054		0.1
	1,000,000	John Deere Capital Corp., 2.800%, 09/08/2027		934,246		0.0
	500,000	John Deere Capital Corp., 3.350%, 06/12/2024		496,346		0.0
	400,000	Johnson Controls International plc, 3.625%, 07/02/2024		394,788		0.0
	250,000	Johnson Controls International plc, 4.625%, 07/02/2044		248,482		0.0
	250,000	Johnson Controls International plc, 5.125%, 09/14/2045		259,751		0.0
	500,000	Kennametal, Inc., 2.650%, 11/01/2019		499,997		0.0
	800,000	L3 Technologies, Inc., 4.950%, 02/15/2021		820,507		0.0
	500,000	Lockheed Martin Corp., 2.500%, 11/23/2020		493,497		0.0
	500,000	Lockheed Martin Corp., 3.100%, 01/15/2023		493,884		0.0
	1,000,000	Lockheed Martin Corp., 3.350%, 09/15/2021		1,005,867		0.1
	1,000,000	Lockheed Martin Corp., 3.550%, 01/15/2026		985,435		0.1
	1,250,000	Lockheed Martin Corp., 3.600%, 03/01/2035		1,165,847		0.1
	500,000	Lockheed Martin Corp., 4.500%, 05/15/2036		520,171		0.0
	500,000	Lockheed Martin Corp., 4.700%, 05/15/2046		531,304		0.0
	1,000,000	Norfolk Southern Corp., 3.950%, 10/01/2042		932,865		0.0
	500,000	Norfolk Southern Corp., 4.450%, 06/15/2045		504,428		0.0
	375,000	Norfolk Southern Corp., 4.800%, 08/15/2043		387,791		0.0
	642,000	Norfolk Southern Corp., 3.942%, 11/01/2047		597,181		0.0
	750,000	Northrop Grumman Corp., 2.550%, 10/15/2022		722,919		0.0
	750,000	Northrop Grumman Corp., 2.930%, 01/15/2025		712,937		0.0
	500,000	Northrop Grumman Corp., 3.850%, 04/15/2045		455,069		0.0
	200,000	Packaging Corp. of America, 3.650%, 09/15/2024		196,666		0.0
	250,000	Parker-Hannifin Corp., 4.200%, 11/21/2034		254,931		0.0
	3,800,000	Raytheon Co., 3.125%, 10/15/2020		3,818,735		0.1
	2,000,000	Republic Services, Inc., 5.250%, 11/15/2021		2,111,116		0.1

See Accompanying Notes to Financial Statements

110

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Industrial: (continued)
	1,250,000		Roper Technologies, Inc., 2.050%, 10/01/2018		1,248,516		0.1
	500,000		Ryder System, Inc., 2.450%, 09/03/2019		496,948		0.0
	500,000		Ryder System, Inc., 2.500%, 05/11/2020		494,298		0.0
	300,000		Stanley Black & Decker, Inc., 2.900%, 11/01/2022		294,318		0.0
	750,000		Textron, Inc., 3.650%, 03/01/2021		753,278		0.0
	250,000		Union Pacific Corp., 2.250%, 02/15/2019		249,369		0.0
	500,000		Union Pacific Corp., 2.750%, 04/15/2023		484,999		0.0
	500,000		Union Pacific Corp., 2.750%, 03/01/2026		465,722		0.0
	250,000		Union Pacific Corp., 3.375%, 02/01/2035		224,097		0.0
	250,000		Union Pacific Corp., 3.750%, 03/15/2024		253,210		0.0
	250,000		Union Pacific Corp., 3.799%, 10/01/2051		221,785		0.0
	750,000		Union Pacific Corp., 4.050%, 11/15/2045		714,049		0.0
	500,000		Union Pacific Corp., 4.250%, 04/15/2043		489,913		0.0
	1,000,000		United Parcel Service, Inc., 2.800%, 11/15/2024		960,680		0.1
	1,000,000		United Parcel Service, Inc., 3.050%, 11/15/2027		952,570		0.0
	750,000		United Technologies Corp., 3.100%, 06/01/2022		741,075		0.0
	500,000		United Technologies Corp., 4.150%, 05/15/2045		465,130		0.0
	500,000		United Technologies Corp., 4.500%, 06/01/2042		494,809		0.0
	406,000		United Technologies Corp., 6.125%, 07/15/2038		475,664		0.0
					65,160,158		2.0

			Technology: 1.6%
	500,000		Analog Devices, Inc., 3.900%, 12/15/2025		495,970		0.0
	500,000		Apple, Inc., 2.100%, 05/06/2019		498,534		0.0
	500,000		Apple, Inc., 2.150%, 02/09/2022		484,600		0.0
	1,000,000		Apple, Inc., 2.250%, 02/23/2021		982,910		0.1
	1,000,000		Apple, Inc., 2.400%, 01/13/2023		965,124		0.0
	1,000,000		Apple, Inc., 2.400%, 05/03/2023		963,744		0.0
	750,000		Apple, Inc., 2.500%, 02/09/2022		735,737		0.0
	500,000		Apple, Inc., 2.850%, 05/06/2021		498,967		0.0
	750,000		Apple, Inc., 3.000%, 02/09/2024		734,848		0.0
	1,000,000		Apple, Inc., 3.000%, 11/13/2027		951,000		0.0
	1,000,000		Apple, Inc., 3.200%, 05/13/2025		978,029		0.1
	1,000,000		Apple, Inc., 3.200%, 05/11/2027		965,700		0.0
	1,000,000		Apple, Inc., 3.250%, 02/23/2026		976,748		0.1
	1,000,000		Apple, Inc., 3.350%, 02/09/2027		977,218		0.1
	500,000		Apple, Inc., 3.450%, 05/06/2024		500,142		0.0
	500,000		Apple, Inc., 3.450%, 02/09/2045		447,596		0.0
	1,000,000		Apple, Inc., 3.850%, 05/04/2043		959,122		0.0
	400,000		Apple, Inc., 4.375%, 05/13/2045		414,512		0.0
	500,000		Apple, Inc., 4.450%, 05/06/2044		523,831		0.0
	1,000,000		Apple, Inc., 4.650%, 02/23/2046		1,078,973		0.1
	500,000		Applied Materials, Inc., 3.900%, 10/01/2025		510,456		0.0
	400,000		Autodesk, Inc., 3.600%, 12/15/2022		400,315		0.0
	250,000		Autodesk, Inc., 4.375%, 06/15/2025		252,039		0.0
	1,000,000		Broadcom Corp. / Broadcom Cayman Finance Ltd., 3.875%, 01/15/2027		947,203		0.0
	400,000	⁽¹⁾	Dell International LLC / EMC Corp., 3.480%, 06/01/2019		401,099		0.0
	400,000	⁽¹⁾	Dell International LLC / EMC Corp., 4.420%, 06/15/2021		405,948		0.0
	400,000	⁽¹⁾	Dell International LLC / EMC Corp., 5.450%, 06/15/2023		418,773		0.0
	400,000	⁽¹⁾	Dell International LLC / EMC Corp., 6.020%, 06/15/2026		421,157		0.0
	400,000	⁽¹⁾	Dell International LLC / EMC Corp., 8.350%, 07/15/2046		482,877		0.0
	279,000		Fidelity National Information Services, Inc., 3.625%, 10/15/2020		280,951		0.0
	500,000		Hewlett Packard Enterprise Co., 3.600%, 10/15/2020		502,656		0.0
	500,000		Hewlett Packard Enterprise Co., 4.400%, 10/15/2022		512,862		0.0
	321,000		HP, Inc., 3.750%, 12/01/2020		323,697		0.0
	1,000,000		International Business Machines Corp., 1.625%, 05/15/2020		977,285		0.1
	500,000		International Business Machines Corp., 1.875%, 05/15/2019		496,958		0.0
	1,030,000		International Business Machines Corp., 2.250%, 02/19/2021		1,008,120		0.1
	1,020,000		International Business Machines Corp., 2.500%, 01/27/2022		997,016		0.1

See Accompanying Notes to Financial Statements

111

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Technology: (continued)
	1,000,000		International Business Machines Corp., 3.375%, 08/01/2023		999,176		0.1
	1,000,000		International Business Machines Corp., 3.450%, 02/19/2026		986,634		0.1
	1,000,000		Intel Corp., 3.150%, 05/11/2027		969,356		0.1
	260,000		Intel Corp., 3.700%, 07/29/2025		261,856		0.0
	272,000		Intel Corp., 3.734%, 12/08/2047		256,700		0.0
	500,000		Lam Research Corp., 2.800%, 06/15/2021		491,777		0.0
	400,000		Lam Research Corp., 3.800%, 03/15/2025		399,119		0.0
	750,000		Microsoft Corp., 1.550%, 08/08/2021		719,941		0.0
	1,000,000		Microsoft Corp., 2.375%, 05/01/2023		966,508		0.0
	1,000,000		Microsoft Corp., 2.400%, 08/08/2026		925,715		0.0
	1,000,000		Microsoft Corp., 2.700%, 02/12/2025		959,638		0.0
	500,000		Microsoft Corp., 2.875%, 02/06/2024		489,684		0.0
	500,000		Microsoft Corp., 3.125%, 11/03/2025		491,521		0.0
	1,500,000		Microsoft Corp., 3.300%, 02/06/2027		1,482,047		0.1
	250,000		Microsoft Corp., 3.500%, 02/12/2035		242,545		0.0
	750,000		Microsoft Corp., 3.625%, 12/15/2023		766,709		0.0
	250,000		Microsoft Corp., 3.750%, 02/12/2045		245,419		0.0
	500,000		Microsoft Corp., 3.950%, 08/08/2056		494,518		0.0
	1,000,000		Microsoft Corp., 4.200%, 11/03/2035		1,052,772		0.1
	1,000,000		Microsoft Corp., 4.250%, 02/06/2047		1,062,500		0.1
	1,000,000		Microsoft Corp., 4.450%, 11/03/2045		1,078,309		0.1
	250,000		Microsoft Corp., 4.875%, 12/15/2043		285,927		0.0
	250,000		NetApp, Inc., 3.375%, 06/15/2021		247,882		0.0
	1,000,000		Oracle Corp., 1.900%, 09/15/2021		952,776		0.0
	500,000		Oracle Corp., 2.250%, 10/08/2019		497,337		0.0
	500,000		Oracle Corp., 2.500%, 10/15/2022		484,511		0.0
	750,000		Oracle Corp., 2.800%, 07/08/2021		745,096		0.0
	1,000,000		Oracle Corp., 2.950%, 11/15/2024		964,524		0.0
	750,000		Oracle Corp., 2.950%, 05/15/2025		716,633		0.0
	1,000,000		Oracle Corp., 3.250%, 11/15/2027		957,460		0.0
	500,000		Oracle Corp., 3.400%, 07/08/2024		495,566		0.0
	400,000		Oracle Corp., 3.850%, 07/15/2036		383,580		0.0
	750,000		Oracle Corp., 3.900%, 05/15/2035		728,016		0.0
	750,000		Oracle Corp., 4.125%, 05/15/2045		724,373		0.0
	180,000		Oracle Corp., 4.300%, 07/08/2034		183,689		0.0
	1,500,000		Oracle Corp., 5.375%, 07/15/2040		1,694,328		0.1
	500,000		Qualcomm, Inc., 2.100%, 05/20/2020		499,710		0.0
	500,000		QUALCOMM, Inc., 3.000%, 05/20/2022		492,727		0.0
	850,000		QUALCOMM, Inc., 4.650%, 05/20/2035		861,996		0.0
	350,000		QUALCOMM, Inc., 4.800%, 05/20/2045		350,532		0.0
	400,000		Xerox Corp., 3.800%, 05/15/2024		383,592		0.0
	807,000		Xerox Corp., 4.070%, 03/17/2022		795,277		0.0
	250,000		Xerox Corp., 4.800%, 03/01/2035		221,278		0.0
					53,481,971		1.6

			Utilities: 2.1%
	500,000		Alabama Power Co., 4.150%, 08/15/2044		494,246		0.0
	300,000		Ameren Illinois Co., 2.700%, 09/01/2022		292,892		0.0
	250,000		Ameren Illinois Co., 4.300%, 07/01/2044		256,945		0.0
	500,000		Appalachian Power Co., 4.400%, 05/15/2044		506,669		0.0
	750,000		Appalachian Power Co., 4.450%, 06/01/2045		773,559		0.0
	250,000		Arizona Public Service Co., 2.200%, 01/15/2020		246,902		0.0
	750,000	⁽²⁾	Arizona Public Service Co., 2.950%, 09/15/2027		705,831		0.0
	400,000		Arizona Public Service Co., 3.350%, 06/15/2024		395,487		0.0
	500,000		Atmos Energy Corp., 4.125%, 10/15/2044		505,419		0.0
	1,000,000		Baltimore Gas & Electric Co., 3.350%, 07/01/2023		989,206		0.1
	500,000		Baltimore Gas & Electric Co., 3.500%, 08/15/2046		448,133		0.0
	3,668,000		Berkshire Hathaway Energy Co., 6.125%, 04/01/2036		4,531,106		0.2
	750,000		CenterPoint Energy Houston Electric LLC, 3.000%, 02/01/2027		711,048		0.0
	250,000		CMS Energy Corp., 3.875%, 03/01/2024		250,943		0.0
	250,000		CMS Energy Corp., 4.875%, 03/01/2044		264,562		0.0
	200,000		Consolidated Edison Co. of New York, Inc., 4.300%, 12/01/2056		195,547		0.0
	500,000		Consolidated Edison Co. of New York, Inc., 4.450%, 03/15/2044		512,373		0.0
	500,000		Consolidated Edison Co. of New York, Inc., 4.500%, 12/01/2045		518,201		0.0

See Accompanying Notes to Financial Statements

112

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Utilities: (continued)
	400,000		Consolidated Edison Co. of New York, Inc., 4.625%, 12/01/2054		411,458		0.0
	300,000		Consumers Energy Co., 2.850%, 05/15/2022		295,719		0.0
	500,000		Consumers Energy Co., 3.950%, 07/15/2047		493,955		0.0
	200,000		Dominion Energy Gas Holdings LLC, 2.500%, 12/15/2019		198,221		0.0
	210,000		Dominion Energy Gas Holdings LLC, 2.800%, 11/15/2020		207,430		0.0
	200,000		Dominion Energy Gas Holdings LLC, 3.600%, 12/15/2024		199,618		0.0
	250,000		DTE Electric Co., 4.300%, 07/01/2044		257,496		0.0
	400,000		DTE Energy Co., 3.500%, 06/01/2024		391,512		0.0
	400,000		DTE Energy Co., 3.850%, 12/01/2023		400,840		0.0
	500,000		Duke Energy Carolinas LLC, 2.500%, 03/15/2023		482,599		0.0
	500,000		Duke Energy Corp., 1.800%, 09/01/2021		478,713		0.0
	500,000		Duke Energy Corp., 3.750%, 09/01/2046		444,436		0.0
	500,000		Duke Energy Corp., 3.950%, 10/15/2023		506,026		0.0
	500,000		Duke Energy Corp., 4.800%, 12/15/2045		524,646		0.0
	1,000,000		Duke Energy Florida LLC, 3.800%, 07/15/2028		1,006,458		0.1
	500,000		Duke Energy Progress LLC, 3.700%, 10/15/2046		460,932		0.0
	150,000		Duke Energy Progress LLC, 4.150%, 12/01/2044		148,264		0.0
	750,000		Duke Energy Progress LLC, 4.200%, 08/15/2045		752,512		0.0
	1,500,000		Duke Energy Progress LLC, 4.375%, 03/30/2044		1,555,628		0.1
	500,000		Edison International, 2.950%, 03/15/2023		480,699		0.0
	500,000		Enel Generacion Chile SA, 4.250%, 04/15/2024		498,153		0.0
	400,000		Entergy Arkansas, Inc., 3.500%, 04/01/2026		395,786		0.0
	400,000		Entergy Arkansas, Inc., 3.700%, 06/01/2024		403,894		0.0
	500,000		Entergy Louisiana LLC, 4.950%, 01/15/2045		505,742		0.0
	1,500,000		Exelon Corp., 4.950%, 06/15/2035		1,582,605		0.1
	750,000		Exelon Corp., 5.100%, 06/15/2045		801,883		0.0
	760,000		Exelon Generation Co. LLC, 5.200%, 10/01/2019		778,070		0.0
	500,000		Florida Power & Light Co., 3.250%, 06/01/2024		496,219		0.0
	750,000		Florida Power & Light Co., 3.800%, 12/15/2042		735,577		0.0
	1,500,000		Florida Power & Light Co., 4.050%, 06/01/2042		1,502,063		0.1
	500,000		Georgia Power Co., 3.250%, 04/01/2026		477,757		0.0
	500,000		Indiana Michigan Power Co., 4.550%, 03/15/2046		519,662		0.0
	1,000,000		Israel Electric Corp. Ltd., 4.250%, 08/14/2028		964,618		0.1
	1,000,000		ITC Holdings Corp., 3.350%, 11/15/2027		938,565		0.0
	250,000		ITC Holdings Corp., 3.650%, 06/15/2024		247,032		0.0
	500,000		Jersey Central Power & Light Co., 6.150%, 06/01/2037		596,957		0.0
	2,500,000		Kentucky Utilities Co., 5.125%, 11/01/2040		2,859,484		0.1
	500,000		MidAmerican Energy Co., 3.100%, 05/01/2027		481,542		0.0
	1,000,000		MidAmerican Energy Co., 3.650%, 08/01/2048		931,107		0.0
	500,000		MidAmerican Energy Co., 3.950%, 08/01/2047		488,447		0.0
	2,000,000		Mississippi Power Co., 4.250%, 03/15/2042		1,923,136		0.1
	250,000	⁽¹⁾	Monongahela Power Co., 5.400%, 12/15/2043		296,461		0.0
	1,000,000		National Fuel Gas Co., 5.200%, 07/15/2025		1,028,705		0.1
	1,000,000		NextEra Energy Capital Holdings, Inc., 2.300%, 04/01/2019		995,932		0.1
	500,000		Northern States Power Co/MN, 4.125%, 05/15/2044		504,074		0.0
	500,000		Northern States Power Co/WI, 3.300%, 06/15/2024		492,824		0.0
	250,000		Oklahoma Gas & Electric Co., 4.000%, 12/15/2044		252,205		0.0
	250,000		Oklahoma Gas & Electric Co., 4.550%, 03/15/2044		271,338		0.0
	750,000		Oncor Electric Delivery Co. LLC, 4.100%, 06/01/2022		768,841		0.0
	500,000		Pacific Gas & Electric Co., 2.950%, 03/01/2026		446,748		0.0
	500,000		Pacific Gas & Electric Co., 3.300%, 03/15/2027		452,586		0.0
	1,850,000		Pacific Gas & Electric Co., 3.500%, 10/01/2020		1,832,053		0.1
	500,000		Pacific Gas & Electric Co., 4.300%, 03/15/2045		451,306		0.0

See Accompanying Notes to Financial Statements

113

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CORPORATE BONDS/NOTES: (continued)
			Utilities: (continued)
	500,000		Pacific Gas & Electric Co., 4.750%, 02/15/2044		475,662		0.0
	750,000		PECO Energy Co., 4.150%, 10/01/2044		754,947		0.0
	250,000		Piedmont Natural Gas Co., 4.100%, 09/18/2034		242,127		0.0
	1,000,000		Progress Energy, Inc., 4.400%, 01/15/2021		1,021,921		0.1
	500,000		PSEG Power LLC, 3.000%, 06/15/2021		494,725		0.0
	1,000,000		Public Service Co. of Colorado, 3.700%, 06/15/2028		1,005,509		0.1
	500,000		Public Service Co. of Colorado, 4.100%, 06/15/2048		503,519		0.0
	3,410,000		Public Service Co. of Colorado, 3.200%, 11/15/2020		3,414,989		0.1
	1,000,000		Public Service Electric & Gas Co., 2.375%, 05/15/2023		955,731		0.1
	750,000		Public Service Electric & Gas Co., 3.800%, 01/01/2043		732,108		0.0
	250,000		Public Service Electric & Gas Co., 4.000%, 06/01/2044		247,487		0.0
	500,000		Sempra Energy, 2.850%, 11/15/2020		493,206		0.0
	750,000		Sempra Energy, 3.550%, 06/15/2024		735,191		0.0
	250,000		Sempra Energy, 3.750%, 11/15/2025		246,956		0.0
	750,000		Sierra Pacific Power Co., 2.600%, 05/01/2026		693,332		0.0
	250,000		South Carolina Electric & Gas Co., 5.100%, 06/01/2065		252,846		0.0
	1,543,214		Southaven Combined Cycle Generation LLC, 3.846%, 08/15/2033		1,533,656		0.1
	500,000		Southern California Edison Co., 3.900%, 03/15/2043		464,477		0.0
	750,000		Southern California Edison Co., 4.000%, 04/01/2047		701,536		0.0
	500,000		Southern California Edison Co., 4.650%, 10/01/2043		513,138		0.0
	1,000,000		Southern Co. Gas Capital Corp., 4.400%, 05/30/2047		992,485		0.1
	500,000		Southern Co., 2.750%, 06/15/2020		495,915		0.0
	500,000		Southern Power Co., 4.150%, 12/01/2025		501,414		0.0
	250,000		Union Electric Co., 3.500%, 04/15/2024		249,814		0.0
	300,000		Union Electric Co., 3.900%, 09/15/2042		292,417		0.0
	500,000		Virginia Electric & Power Co., 4.450%, 02/15/2044		509,875		0.0
	1,533,000		Virginia Electric & Power Co., 6.000%, 05/15/2037		1,875,708		0.1
	1,000,000		Westar Energy, Inc., 4.125%, 03/01/2042		998,761		0.1
	500,000		Westar Energy, Inc., 4.625%, 09/01/2043		528,931		0.0
	250,000		Wisconsin Electric Power Co., 4.250%, 06/01/2044		252,243		0.0
	500,000		Wisconsin Power & Light Co., 4.100%, 10/15/2044		492,083		0.0
					70,890,312		2.1

		Total Corporate Bonds/Notes
		(Cost $973,230,673)			963,667,543		29.0

COLLATERALIZED MORTGAGE OBLIGATIONS: 0.1%
	1,872,266		Fannie Mae 2012-110 CA, 3.000%, 10/25/2042		1,829,663		0.1
	1,453,323		Fannie Mae REMIC Trust 2006-78 BZ, 6.500%, 08/25/2036		1,577,547		0.0

		Total Collateralized Mortgage Obligations
		(Cost $3,501,662)			3,407,210		0.1

MUNICIPAL BONDS: 1.0%
			California: 0.2%
	4,335,000		State of California, 7.550%, 04/01/2039		6,408,300		0.2

			Connecticut: 0.1%
	3,735,000		State of Connecticut, 5.850%, 03/15/2032		4,317,249		0.1

			New Jersey: 0.2%
	3,425,000		New Jersey Turnpike Authority, 7.102%, 01/01/2041		4,832,264		0.1
	2,335,000		Port Authority of New York & New Jersey, 4.926%, 10/01/2051		2,747,408		0.1
					7,579,672		0.2

			New York: 0.2%
	3,495,000		Metropolitan Transportation Authority, 6.814%, 11/15/2040		4,701,509		0.2

			Ohio: 0.2%
	3,355,000		American Municipal Power, Inc., 7.834%, 02/15/2041		5,060,850		0.2

			Washington: 0.1%
	3,900,000		State of Washington, 5.140%, 08/01/2040		4,654,728		0.1

		Total Municipal Bonds
		(Cost $26,930,746)			32,722,308		1.0

See Accompanying Notes to Financial Statements

114

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
CONVERTIBLE BONDS/NOTES: 0.0%
			Financial: 0.0%
	500,000		Santander UK PLC, 3.400%, 06/01/2021		499,917		0.0

		Total Convertible Bonds/Notes
		(Cost $500,750)			499,917		0.0

ASSET-BACKED SECURITIES: 0.6%
			Automobile Asset-Backed Securities: 0.3%
	1,000,000		Ally Auto Receivables Trust 2017-1 A4, 1.990%, 11/15/2021		985,904		0.0
	1,000,000		Ally Auto Receivables Trust 2017-2 A4, 2.100%, 03/15/2022		982,375		0.0
	150,000		BMW Vehicle Lease Trust 2017-2 A4, 2.190%, 03/22/2021		148,274		0.0
	500,000		BMW Vehicle Owner Trust 2016-A A4, 1.370%, 12/27/2022		489,196		0.0
	1,000,000		CarMax Auto Owner Trust 2017-1 A4, 2.270%, 09/15/2022		983,391		0.0
	950,000		CarMax Auto Owner Trust 2017-4 A4, 2.330%, 05/15/2023		929,427		0.0
	820,000	⁽¹⁾	Ford Credit Auto Owner Trust 2014-2 A, 2.310%, 04/15/2026		813,845		0.0
	1,000,000		GM Financial Automobile Leasing Trust 2017-1 A4, 2.260%, 08/20/2020		993,210		0.1
	1,000,000		GM Financial Automobile Leasing Trust 2018-1 B, 2.870%, 12/20/2021		993,468		0.1
	1,000,000		Nissan Auto Receivables 2016-C A4, 1.380%, 01/17/2023		972,421		0.0
	450,000		Nissan Auto Receivables 2017-B A4, 1.950%, 10/16/2023		439,039		0.0
	1,000,000		World Omni Automobile Lease Securitization Trust 2017-A A4, 2.320%, 08/15/2022		991,613		0.1
					9,722,163		0.3

			Credit Card Asset-Backed Securities: 0.2%
	1,500,000		American Express Credit Account Master Trust 2017-1 B, 2.100%, 09/15/2022		1,480,649		0.1
	1,000,000		American Express Credit Account Master Trust 2017-7 A, 2.350%, 05/15/2025		971,868		0.0
	1,000,000		Capital One Multi-Asset Execution Trust 2015-A2 A2, 2.080%, 03/15/2023		985,430		0.1
	1,000,000		Capital One Multi-Asset Execution Trust 2017-A3 A3, 2.430%, 01/15/2025		978,282		0.0
	500,000		Citibank Credit Card Issuance Trust 2014-A1 A1, 2.880%, 01/23/2023		498,822		0.0
	1,000,000		Discover Card Execution Note Trust 2017-A2 A2, 2.390%, 07/15/2024		977,328		0.0
	500,000		Synchrony Credit Card Master Note Trust 2017-2 A, 2.620%, 10/15/2025		487,139		0.0
					6,379,518		0.2

			Other Asset-Backed Securities: 0.1%
	350,166		AEP Texas Central Transition Funding III LLC 2012-1 A2, 1.976%, 06/01/2021		346,803		0.0
	1,650,000	⁽¹⁾	Volvo Financial Equipment LLC Series 2017-1A A4, 2.210%, 11/15/2021		1,623,485		0.1
					1,970,288		0.1

		Total Asset-Backed Securities
		(Cost $18,370,216)			18,071,969		0.6

U.S. GOVERNMENT AGENCY OBLIGATIONS: 28.0%
			Federal Home Loan Mortgage Corporation: 9.3%⁽⁴⁾
	10,040,000	⁽⁵⁾	3.000%, 07/01/2033		9,967,694		0.3
	7,385,974		3.000%, 04/01/2045		7,179,664		0.2
	7,461,739		3.000%, 04/01/2045		7,255,339		0.2
	30,831,805		3.000%, 05/01/2045		29,953,850		0.9
	7,389,000	⁽⁵⁾	3.000%, 07/01/2045		7,148,646		0.2
	10,845,950		3.000%, 11/01/2046		10,552,218		0.3
	370,000	⁽⁵⁾	3.500%, 07/01/2033		374,098		0.0
	2,169,928		3.500%, 01/01/2042		2,175,090		0.1
	403,688		3.500%, 01/01/2042		404,901		0.0
	7,408,231		3.500%, 08/01/2042		7,409,876		0.2
	28,405,220		3.500%, 04/01/2043		28,411,505		0.9
	30,138,041		3.500%, 02/01/2044		30,144,710		0.9
	39,916,000	⁽⁵⁾	3.500%, 07/01/2045		39,696,591		1.2
	7,385,709		3.500%, 12/01/2047		7,355,711		0.2
	4,515,000		3.750%, 03/27/2019		4,564,051		0.2
	2,057,728		3.820%, 02/01/2042		2,153,483		0.1
	1,268,296		4.000%, 01/01/2025		1,304,702		0.1
	146,927		4.000%, 08/01/2040		151,060		0.0
	1,804,851		4.000%, 04/01/2041		1,855,674		0.1
	1,511,318		4.000%, 05/01/2041		1,553,950		0.1
	65,639		4.000%, 08/01/2041		67,491		0.0
	244,165		4.000%, 12/01/2041		251,053		0.0
	1,414,781		4.000%, 01/01/2042		1,454,681		0.1
	3,390,436		4.000%, 03/01/2042		3,486,049		0.1
	102,610		4.000%, 12/01/2042		105,657		0.0
	1,071,947		4.000%, 02/01/2044		1,107,445		0.1
	2,517,000	⁽⁵⁾	4.000%, 07/01/2044		2,564,786		0.1
	953,947		4.000%, 07/01/2045		976,392		0.0
	995,618		4.000%, 09/01/2045		1,018,969		0.0
	717,934		4.000%, 09/01/2045		734,820		0.0
	757,102		4.000%, 09/01/2045		774,895		0.0
	2,532,597		4.000%, 05/01/2046		2,584,371		0.1
	1,108,906		4.000%, 03/01/2048		1,131,698		0.1
	49,928,000	⁽⁵⁾	4.000%, 07/01/2048		50,901,208		1.5
	7,094		4.500%, 04/01/2023		7,332		0.0
	90,280		4.500%, 03/01/2039		94,521		0.0
	279,410		4.500%, 08/01/2039		293,969		0.0
	669,094		4.500%, 09/01/2039		703,930		0.0
	325,256		4.500%, 09/01/2039		342,021		0.0

See Accompanying Notes to Financial Statements

115

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
		Federal Home Loan Mortgage Corporation: (continued)
	430,805	4.500%, 09/01/2039		453,240		0.0
	659,275	4.500%, 10/01/2039		693,111		0.0
	918,277	4.500%, 12/01/2039		966,241		0.0
	290,914	4.500%, 03/01/2040		306,068		0.0
	563,271	4.500%, 04/01/2040		592,650		0.0
	123,127	4.500%, 06/01/2040		129,557		0.0
	641,448	4.500%, 07/01/2040		674,944		0.0
	736,118	4.500%, 07/01/2040		772,769		0.0
	624,803	4.500%, 08/01/2040		657,459		0.0
	211,127	4.500%, 08/01/2040		222,158		0.0
	196,661	4.500%, 03/01/2041		206,896		0.0
	783,511	4.500%, 03/01/2041		823,237		0.0
	291,114	4.500%, 04/01/2041		306,324		0.0
	823,749	4.500%, 06/01/2041		866,521		0.0
	733,437	4.500%, 07/01/2041		771,771		0.0
	4,433,389	4.500%, 08/01/2041		4,657,237		0.2
	144,372	4.500%, 08/01/2041		150,886		0.0
	5,500,000	4.500%, 07/01/2048		5,729,713		0.2
	22,622	5.000%, 03/01/2034		24,074		0.0
	144,361	5.000%, 12/01/2034		154,160		0.0
	471,350	5.000%, 08/01/2035		503,532		0.0
	146,056	5.000%, 08/01/2035		155,561		0.0
	231,629	5.000%, 10/01/2035		246,700		0.0
	153,893	5.000%, 10/01/2035		163,932		0.0
	147,984	5.000%, 10/01/2035		158,130		0.0
	346,666	5.000%, 12/01/2035		370,417		0.0
	40,712	5.000%, 04/01/2036		43,243		0.0
	156,998	5.000%, 11/01/2036		167,742		0.0
	113,314	5.000%, 02/01/2037		121,047		0.0
	90,199	5.000%, 05/01/2037		96,357		0.0
	1,293,435	5.000%, 10/01/2037		1,382,052		0.1
	707,808	5.000%, 03/01/2038		756,167		0.0
	767,332	5.000%, 03/01/2038		819,710		0.0
	234,169	5.000%, 03/01/2038		250,196		0.0
	215,369	5.000%, 04/01/2038		229,927		0.0
	23,987	5.000%, 10/01/2038		25,617		0.0
	93,556	5.000%, 06/01/2040		100,012		0.0
	220,600	5.000%, 08/01/2040		235,821		0.0
	563,998	5.000%, 04/01/2041		602,940		0.0
	78,451	5.490%, 02/01/2037		83,756		0.0
	246,933	5.500%, 12/01/2024		255,023		0.0
	113,292	5.500%, 09/01/2034		122,878		0.0
	121,181	5.500%, 01/01/2035		131,254		0.0
	1,258,225	5.500%, 09/01/2035		1,364,074		0.1
	58,371	5.500%, 09/01/2035		63,115		0.0
	1,076,590	5.500%, 10/01/2035		1,166,317		0.1
	420,990	5.500%, 03/01/2036		456,093		0.0
	82,222	5.500%, 03/01/2036		89,020		0.0
	57,386	5.500%, 05/01/2036		61,701		0.0
	334,323	5.500%, 06/01/2036		362,509		0.0
	22,050	5.500%, 07/01/2036		23,825		0.0
	5,459	5.500%, 07/01/2036		5,916		0.0
	147,966	5.500%, 07/01/2036		160,304		0.0
	33,257	5.500%, 10/01/2036		36,001		0.0
	145,706	5.500%, 11/01/2036		157,818		0.0
	85,964	5.500%, 12/01/2036		93,002		0.0
	112,520	5.500%, 12/01/2036		121,867		0.0
	12,186	5.500%, 12/01/2036		13,021		0.0
	100,359	5.500%, 02/01/2037		108,696		0.0
	15,395	5.500%, 02/01/2037		16,673		0.0
	34,083	5.500%, 05/01/2037		36,837		0.0
	5,128	5.500%, 06/01/2037		5,541		0.0
	69,512	5.500%, 12/01/2037		75,069		0.0
	30,646	5.500%, 03/01/2038		33,139		0.0
	7,580	5.500%, 06/01/2038		8,149		0.0
	16,692	5.500%, 06/01/2038		18,041		0.0
	11,210	5.500%, 08/01/2038		12,033		0.0
	2,671	5.500%, 10/01/2038		2,883		0.0
	1,043,097	5.500%, 11/01/2038		1,134,052		0.1
	19,887	5.500%, 12/01/2038		21,406		0.0
	17,153	5.500%, 12/01/2038		18,620		0.0
	23,512	5.500%, 12/01/2038		25,429		0.0
	169,173	5.500%, 01/01/2039		182,819		0.0
	29,012	5.500%, 01/01/2039		31,373		0.0
	111,977	5.500%, 01/01/2040		119,830		0.0
	116,178	5.500%, 01/01/2040		125,599		0.0
	100,757	5.500%, 03/01/2040		108,110		0.0
	116,805	5.500%, 01/01/2041		124,887		0.0
	67,243	5.750%, 05/01/2037		72,641		0.0
	244,979	5.800%, 07/01/2037		264,588		0.0
	78,338	5.800%, 08/01/2037		84,836		0.0
	79,188	5.800%, 09/01/2037		85,775		0.0
	41,115	5.800%, 09/01/2037		44,537		0.0
	7,431	6.000%, 04/01/2028		8,195		0.0
	66,680	6.000%, 07/01/2028		72,884		0.0
	511	6.000%, 04/01/2036		560		0.0
	4,064	6.000%, 04/01/2036		4,481		0.0
	14,134	6.000%, 04/01/2036		15,582		0.0
	43,158	6.000%, 06/01/2036		47,605		0.0
	14,827	6.000%, 07/01/2036		16,300		0.0
	7,062	6.000%, 08/01/2036		7,719		0.0
	102,193	6.000%, 08/01/2036		112,211		0.0
	14,772	6.000%, 08/01/2036		16,302		0.0
	96,958	6.000%, 01/01/2037		106,929		0.0
	68,450	6.000%, 02/01/2037		75,449		0.0
	4,246	6.000%, 04/01/2037		4,670		0.0
	1,641	6.000%, 06/01/2037		1,799		0.0
	20,943	6.000%, 06/01/2037		23,096		0.0
	11,251	6.000%, 07/01/2037		12,409		0.0
	446	6.000%, 07/01/2037		492		0.0
	7,120	6.000%, 08/01/2037		7,783		0.0
	43,975	6.000%, 08/01/2037		48,336		0.0
	2,548	6.000%, 08/01/2037		2,798		0.0
	165,024	6.000%, 08/01/2037		180,377		0.0
	12,680	6.000%, 08/01/2037		13,990		0.0
	7,986	6.000%, 08/01/2037		8,732		0.0
	4,931	6.000%, 08/01/2037		5,427		0.0
	3,944	6.000%, 09/01/2037		4,334		0.0
	22,809	6.000%, 09/01/2037		25,150		0.0
	9,379	6.000%, 09/01/2037		10,337		0.0
	15,399	6.000%, 10/01/2037		16,990		0.0
	9,805	6.000%, 10/01/2037		10,718		0.0
	20,343	6.000%, 10/01/2037		22,235		0.0
	20,711	6.000%, 10/01/2037		22,830		0.0
	4,257	6.000%, 11/01/2037		4,692		0.0
	40,243	6.000%, 11/01/2037		44,266		0.0
	3,507	6.000%, 11/01/2037		3,834		0.0
	90,317	6.000%, 12/01/2037		99,200		0.0
	1,014	6.000%, 12/01/2037		1,109		0.0
	30,522	6.000%, 01/01/2038		33,458		0.0
	28,760	6.000%, 01/01/2038		31,691		0.0
	3,363	6.000%, 01/01/2038		3,693		0.0
	20,612	6.000%, 02/01/2038		22,535		0.0
	2,602	6.000%, 02/01/2038		2,845		0.0
	18,817	6.000%, 05/01/2038		20,571		0.0
	2,149	6.000%, 06/01/2038		2,357		0.0
	56,350	6.000%, 07/01/2038		61,877		0.0
	85,280	6.000%, 07/01/2038		93,740		0.0
	13,287	6.000%, 09/01/2038		14,620		0.0
	1,542	6.000%, 09/01/2038		1,693		0.0
	43,822	6.000%, 09/01/2038		47,899		0.0
	296,543	6.000%, 09/01/2038		324,609		0.0
	26,052	6.000%, 11/01/2038		28,594		0.0
	182,591	6.000%, 01/01/2039		200,504		0.0
	241,484	6.000%, 04/01/2039		265,208		0.0
	50,421	6.000%, 08/01/2039		55,287		0.0
	85,202	6.000%, 10/01/2039		93,293		0.0
	30,277	6.000%, 11/01/2039		33,304		0.0
	134,833	6.000%, 11/01/2039		147,724		0.0
	3,175	6.000%, 12/01/2039		3,486		0.0

See Accompanying Notes to Financial Statements

116

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
			Federal Home Loan Mortgage Corporation: (continued)
	102,425		6.000%, 05/01/2040		112,792		0.0
	61,813		6.150%, 12/01/2037		68,191		0.0
	44,457		6.150%, 12/01/2037		49,091		0.0
	78,110		6.150%, 01/01/2038		85,893		0.0
	165,418		6.150%, 02/01/2038		181,725		0.0
	88,055		6.150%, 02/01/2038		96,792		0.0
	840,000		6.250%, 07/15/2032		1,125,240		0.1
	16,631		6.500%, 06/01/2036		18,535		0.0
	3,395		6.500%, 08/01/2036		3,832		0.0
	59,193		6.500%, 10/01/2036		65,968		0.0
	3,096		6.500%, 10/01/2036		3,465		0.0
	26,773		6.500%, 07/01/2037		29,837		0.0
	8,703		6.500%, 09/01/2037		9,698		0.0
	4,985		6.500%, 10/01/2037		5,555		0.0
	10,883		6.500%, 11/01/2037		12,128		0.0
	12,185		6.500%, 04/01/2038		13,898		0.0
	29,528		6.500%, 04/01/2038		32,905		0.0
	3,744		6.500%, 05/01/2038		4,172		0.0
	883		6.500%, 05/01/2038		985		0.0
	2,246		6.500%, 07/01/2038		2,502		0.0
	1,370		6.500%, 08/01/2038		1,527		0.0
	8,433		6.500%, 09/01/2038		9,396		0.0
	280		6.500%, 10/01/2038		312		0.0
	10,076		6.500%, 11/01/2038		11,229		0.0
	13,160		6.500%, 12/01/2038		14,667		0.0
	1,672		6.500%, 12/01/2038		1,863		0.0
	59,478		6.500%, 12/01/2038		66,268		0.0
	7,651		6.500%, 12/01/2038		8,525		0.0
	667,208		6.500%, 12/01/2038		744,414		0.0
	3,080		6.500%, 01/01/2039		3,452		0.0
	2,540,000		6.750%, 03/15/2031		3,470,786		0.1
					310,135,729		9.3

			Federal National Mortgage Association: 10.4%⁽⁴⁾
	2,420,000		1.500%, 06/22/2020		2,371,271		0.1
	5,568,988		2.500%, 09/01/2027		5,458,249		0.2
	8,630,028		2.500%, 06/01/2030		8,428,799		0.3
	5,885,737		2.500%, 06/01/2030		5,748,507		0.2
	19,076,000	⁽⁵⁾	2.500%, 07/01/2030		18,540,440		0.6
	3,616,376		2.500%, 07/01/2030		3,532,041		0.1
	2,535,830		3.000%, 06/01/2026		2,542,593		0.1
	8,227,721		3.000%, 08/01/2030		8,209,268		0.3
	3,933,181		3.000%, 09/01/2030		3,924,352		0.1
	21,927,380		3.000%, 12/01/2042		21,436,973		0.7
	12,007,052		3.000%, 07/01/2043		11,731,114		0.4
	6,158,694		3.000%, 09/01/2043		6,017,160		0.2
	6,157,907		3.000%, 07/01/2046		5,988,895		0.2
	2,490,726		3.000%, 08/01/2046		2,421,927		0.1
	29,299,000	⁽⁵⁾	3.000%, 07/01/2048		28,376,539		0.9
	268,853		3.500%, 08/01/2026		272,286		0.0
	472,358		3.500%, 08/01/2026		478,390		0.0
	16,995		3.500%, 09/01/2026		17,212		0.0
	266,333		3.500%, 10/01/2026		269,735		0.0
	660,300		3.500%, 10/01/2026		668,732		0.0
	1,110,499		3.500%, 11/01/2026		1,128,593		0.0
	1,022,718		3.500%, 12/01/2026		1,035,779		0.0
	1,122,118		3.500%, 12/01/2026		1,136,448		0.0
	1,470,847		3.500%, 01/01/2027		1,494,821		0.1
	1,663,078		3.500%, 03/01/2041		1,669,011		0.1
	1,781,721		3.500%, 12/01/2041		1,788,064		0.1
	3,179,529		3.500%, 01/01/2042		3,190,878		0.1
	6,889,981		3.500%, 10/01/2042		6,907,100		0.2
	16,111,707		3.500%, 11/01/2042		16,137,185		0.5
	6,594,531		3.500%, 01/01/2046		6,593,961		0.2
	9,809,706		3.500%, 02/01/2046		9,808,858		0.3
	4,979,816		3.500%, 02/01/2046		4,978,820		0.2
	9,820,000	⁽⁵⁾	3.500%, 07/01/2048		9,771,597		0.3
	1,413,759		3.720%, 10/01/2029		1,440,295		0.1
	6,252		4.000%, 11/01/2020		6,419		0.0
	19,992		4.000%, 07/01/2022		20,526		0.0
	7,902		4.000%, 04/01/2023		8,113		0.0
	2,604		4.000%, 05/01/2023		2,674		0.0
	8,703		4.000%, 07/01/2023		8,935		0.0
	42,906		4.000%, 03/01/2024		44,071		0.0
	30,717		4.000%, 03/01/2024		31,546		0.0
	15,037		4.000%, 04/01/2024		15,439		0.0
	603		4.000%, 04/01/2024		619		0.0
	178,107		4.000%, 07/01/2024		182,882		0.0
	51,384		4.000%, 07/01/2024		52,757		0.0
	2,706		4.000%, 08/01/2024		2,778		0.0
	60,214		4.000%, 01/01/2025		61,823		0.0
	50,757		4.000%, 02/01/2025		52,115		0.0
	260,836		4.000%, 02/01/2025		267,910		0.0
	141,671		4.000%, 06/01/2025		145,456		0.0
	5,157		4.000%, 07/01/2025		5,295		0.0
	23,150		4.000%, 09/01/2025		23,768		0.0
	30,473		4.000%, 09/01/2025		31,290		0.0
	271,551		4.000%, 12/01/2025		278,941		0.0
	315,061		4.000%, 02/01/2026		323,570		0.0
	72,187		4.000%, 03/01/2026		74,171		0.0
	216,665		4.000%, 04/01/2026		222,648		0.0
	99,826		4.000%, 04/01/2026		102,578		0.0
	734,195		4.000%, 04/01/2026		754,441		0.0
	362,831		4.000%, 05/01/2026		372,922		0.0
	219,498		4.000%, 09/01/2026		225,608		0.0
	885,881		4.000%, 10/01/2040		909,972		0.0
	232,736		4.000%, 10/01/2040		239,117		0.0
	18,028,194		4.000%, 11/01/2040		18,522,905		0.6
	1,534,435		4.000%, 12/01/2040		1,576,507		0.1
	1,894,926		4.000%, 12/01/2040		1,946,956		0.1
	3,227,545		4.000%, 02/01/2041		3,316,182		0.1
	507,210		4.000%, 03/01/2041		521,136		0.0
	498,113		4.000%, 04/01/2041		511,765		0.0
	273,999		4.000%, 08/01/2041		279,586		0.0
	375,185		4.000%, 09/01/2041		385,447		0.0
	3,986,060		4.000%, 11/01/2041		4,095,554		0.1
	580,808		4.000%, 12/01/2041		596,762		0.0
	1,304,898		4.000%, 01/01/2042		1,340,673		0.1
	789,384		4.000%, 07/01/2042		811,060		0.0
	2,808,915		4.000%, 12/01/2042		2,887,541		0.1
	2,674,366		4.000%, 07/01/2043		2,758,892		0.1
	2,240,525		4.000%, 02/01/2044		2,306,823		0.1
	1,232,008		4.000%, 02/01/2044		1,268,459		0.1
	770,747		4.000%, 03/01/2044		794,583		0.0
	2,222,288		4.000%, 05/01/2045		2,270,930		0.1
	12,046,853		4.000%, 06/01/2045		12,344,984		0.4
	4,254,958		4.000%, 07/01/2045		4,389,445		0.1
	2,938,210		4.000%, 07/01/2045		3,011,926		0.1
	2,993,200		4.000%, 07/01/2045		3,079,725		0.1
	1,960,088		4.000%, 07/01/2045		2,012,527		0.1
	1,087,416		4.000%, 03/01/2048		1,110,558		0.0
	2,749,740		4.000%, 03/01/2048		2,808,257		0.1
	1,638		4.500%, 05/01/2019		1,651		0.0
	1,151		4.500%, 05/01/2019		1,160		0.0
	7,854		4.500%, 01/01/2020		7,918		0.0
	4,539		4.500%, 08/01/2020		4,573		0.0
	1,497		4.500%, 06/01/2022		1,508		0.0
	98		4.500%, 07/01/2022		99		0.0
	25,955		4.500%, 11/01/2022		26,336		0.0
	19,363		4.500%, 02/01/2023		19,508		0.0
	5,437		4.500%, 02/01/2023		5,610		0.0
	2,266		4.500%, 03/01/2023		2,321		0.0
	123,412		4.500%, 03/01/2023		125,910		0.0
	474		4.500%, 03/01/2023		483		0.0
	1,031		4.500%, 04/01/2023		1,049		0.0
	97,353		4.500%, 04/01/2023		100,575		0.0
	21,551		4.500%, 04/01/2023		22,265		0.0
	17,429		4.500%, 04/01/2023		17,996		0.0
	61,734		4.500%, 04/01/2023		63,777		0.0

See Accompanying Notes to Financial Statements

117

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
		Federal National Mortgage Association: (continued)
	2,487	4.500%, 05/01/2023		2,570		0.0
	1,345	4.500%, 05/01/2023		1,379		0.0
	874	4.500%, 05/01/2023		903		0.0
	96,112	4.500%, 05/01/2023		99,317		0.0
	3,612	4.500%, 07/01/2023		3,639		0.0
	8,109	4.500%, 01/01/2024		8,170		0.0
	370,862	4.500%, 07/01/2024		383,360		0.0
	466,416	4.500%, 08/01/2024		482,055		0.0
	25,586	4.500%, 09/01/2024		25,909		0.0
	64,939	4.500%, 09/01/2024		66,635		0.0
	14,997	4.500%, 09/01/2024		15,500		0.0
	200,814	4.500%, 09/01/2024		207,573		0.0
	43,959	4.500%, 10/01/2024		44,290		0.0
	103,307	4.500%, 10/01/2024		105,290		0.0
	57,215	4.500%, 10/01/2024		57,717		0.0
	17,906	4.500%, 11/01/2024		18,415		0.0
	23,773	4.500%, 11/01/2024		23,952		0.0
	74,303	4.500%, 11/01/2024		76,795		0.0
	6,216	4.500%, 11/01/2024		6,262		0.0
	2,788	4.500%, 11/01/2024		2,809		0.0
	123,497	4.500%, 11/01/2024		127,630		0.0
	118,555	4.500%, 12/01/2024		120,048		0.0
	101,614	4.500%, 12/01/2024		105,032		0.0
	108,101	4.500%, 01/01/2025		110,172		0.0
	155,011	4.500%, 01/01/2025		160,222		0.0
	2,423	4.500%, 01/01/2025		2,483		0.0
	392,351	4.500%, 05/01/2025		405,559		0.0
	20,866	4.500%, 08/01/2025		21,035		0.0
	364,266	4.500%, 01/01/2026		376,062		0.0
	168,019	4.500%, 04/01/2026		169,282		0.0
	5,568	4.500%, 06/01/2034		5,830		0.0
	22,941	4.500%, 05/01/2035		24,037		0.0
	2,365	4.500%, 03/01/2038		2,489		0.0
	1,268	4.500%, 05/01/2038		1,322		0.0
	10,854	4.500%, 05/01/2038		11,315		0.0
	17,551	4.500%, 06/01/2038		18,375		0.0
	11,332	4.500%, 07/01/2038		11,813		0.0
	9,301	4.500%, 07/01/2038		9,695		0.0
	28,270	4.500%, 09/01/2038		29,469		0.0
	699,573	4.500%, 03/01/2039		735,701		0.0
	35,885	4.500%, 04/01/2039		37,748		0.0
	24,585	4.500%, 04/01/2039		25,866		0.0
	791,432	4.500%, 07/01/2039		832,651		0.0
	1,950,541	4.500%, 09/01/2039		2,051,867		0.1
	1,351,523	4.500%, 10/01/2039		1,421,806		0.1
	527,696	4.500%, 12/01/2039		555,393		0.0
	389,807	4.500%, 12/01/2039		410,075		0.0
	436,824	4.500%, 12/01/2039		459,737		0.0
	271,396	4.500%, 03/01/2040		285,637		0.0
	398,617	4.500%, 10/01/2040		419,526		0.0
	366,385	4.500%, 10/01/2040		385,636		0.0
	303,646	4.500%, 10/01/2040		317,547		0.0
	748,402	4.500%, 03/01/2041		787,735		0.0
	361,672	4.500%, 04/01/2041		377,015		0.0
	310,829	4.500%, 06/01/2041		327,163		0.0
	317,214	4.500%, 06/01/2041		333,877		0.0
	3,356,981	4.500%, 06/01/2041		3,533,415		0.1
	207,034	4.500%, 06/01/2041		215,817		0.0
	242,018	4.500%, 07/01/2041		254,339		0.0
	144,902	4.500%, 07/01/2041		152,295		0.0
	5,558,693	4.500%, 07/01/2041		5,837,115		0.2
	1,862,841	4.500%, 08/01/2041		1,959,785		0.1
	2,069,616	4.500%, 08/01/2041		2,178,389		0.1
	340,848	4.500%, 08/01/2041		357,185		0.0
	331	5.000%, 02/01/2020		337		0.0
	651	5.000%, 06/01/2021		663		0.0
	3,958	5.000%, 11/01/2021		4,028		0.0
	13,585	5.000%, 01/01/2022		13,823		0.0
	664	5.000%, 02/01/2022		679		0.0
	1,555	5.000%, 04/01/2022		1,582		0.0
	29,026	5.000%, 06/01/2022		29,569		0.0
	798	5.000%, 06/01/2022		812		0.0
	334	5.000%, 06/01/2022		340		0.0
	15,282	5.000%, 06/01/2022		15,576		0.0
	15,312	5.000%, 07/01/2022		15,580		0.0
	480	5.000%, 07/01/2022		488		0.0
	7,759	5.000%, 09/01/2022		7,895		0.0
	12,888	5.000%, 12/01/2022		13,114		0.0
	15,596	5.000%, 01/01/2023		16,100		0.0
	779	5.000%, 01/01/2023		794		0.0
	197,454	5.000%, 02/01/2023		204,373		0.0
	501	5.000%, 02/01/2023		520		0.0
	52,831	5.000%, 02/01/2023		54,971		0.0
	6,932	5.000%, 03/01/2023		7,163		0.0
	15,699	5.000%, 03/01/2023		15,974		0.0
	30,325	5.000%, 03/01/2023		30,998		0.0
	916	5.000%, 03/01/2023		953		0.0
	36,936	5.000%, 03/01/2023		37,584		0.0
	31,373	5.000%, 04/01/2023		32,095		0.0
	27,140	5.000%, 04/01/2023		27,913		0.0
	7,229	5.000%, 04/01/2023		7,521		0.0
	13,982	5.000%, 05/01/2023		14,549		0.0
	2,119	5.000%, 05/01/2023		2,156		0.0
	6,763	5.000%, 05/01/2023		6,882		0.0
	2,406	5.000%, 06/01/2023		2,449		0.0
	10,230	5.000%, 06/01/2023		10,418		0.0
	30,326	5.000%, 06/01/2023		31,005		0.0
	12,297	5.000%, 06/01/2023		12,794		0.0
	29,172	5.000%, 06/01/2023		29,684		0.0
	202,588	5.000%, 07/01/2023		210,768		0.0
	69,157	5.000%, 08/01/2023		71,068		0.0
	323	5.000%, 09/01/2023		333		0.0
	14,061	5.000%, 02/01/2024		14,619		0.0
	77,215	5.000%, 03/01/2024		80,360		0.0
	31,330	5.000%, 04/01/2024		31,879		0.0
	14,164	5.000%, 04/01/2024		14,576		0.0
	55,525	5.000%, 05/01/2024		56,615		0.0
	132,454	5.000%, 06/01/2024		136,324		0.0
	247,739	5.000%, 08/01/2024		253,427		0.0
	116,020	5.000%, 07/01/2033		124,285		0.0
	112,018	5.000%, 02/01/2034		118,813		0.0
	23,267	5.000%, 11/01/2034		24,909		0.0
	2,398,862	5.000%, 02/01/2035		2,570,081		0.1
	425,061	5.000%, 06/01/2035		455,366		0.0
	29,541	5.000%, 08/01/2035		31,525		0.0
	122,471	5.000%, 09/01/2035		131,120		0.0
	288,879	5.000%, 09/01/2035		309,312		0.0
	404,870	5.000%, 09/01/2035		432,962		0.0
	33,970	5.000%, 10/01/2035		36,365		0.0
	483,312	5.000%, 03/01/2036		517,877		0.0
	612,727	5.000%, 03/01/2036		656,603		0.0
	424,990	5.000%, 05/01/2036		454,814		0.0
	5,079	5.000%, 05/01/2036		5,442		0.0
	80,721	5.000%, 06/01/2036		86,496		0.0
	63,812	5.000%, 12/01/2036		68,351		0.0
	831,230	5.000%, 12/01/2036		890,474		0.0
	203,545	5.000%, 07/01/2037		218,110		0.0
	168,962	5.000%, 01/01/2038		180,859		0.0
	652,323	5.000%, 02/01/2038		699,007		0.0
	298,279	5.000%, 02/01/2038		319,642		0.0
	610,371	5.000%, 08/01/2038		653,999		0.0
	304,167	5.000%, 07/01/2040		326,429		0.0
	125,161	5.000%, 07/01/2040		134,322		0.0
	199	5.500%, 09/01/2018		199		0.0
	325	5.500%, 07/01/2020		326		0.0
	622	5.500%, 04/01/2021		636		0.0
	7,016	5.500%, 10/01/2021		7,135		0.0
	141,322	5.500%, 11/01/2021		144,751		0.0
	2,330	5.500%, 11/01/2021		2,355		0.0
	39,965	5.500%, 11/01/2021		40,831		0.0

See Accompanying Notes to Financial Statements

118

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
		Federal National Mortgage Association: (continued)
	158,799	5.500%, 12/01/2021		163,630		0.0
	177,938	5.500%, 12/01/2021		182,246		0.0
	29,186	5.500%, 12/01/2021		29,734		0.0
	3,556	5.500%, 01/01/2022		3,652		0.0
	5,165	5.500%, 01/01/2022		5,280		0.0
	7,265	5.500%, 01/01/2022		7,295		0.0
	28,224	5.500%, 02/01/2022		29,186		0.0
	1,576	5.500%, 04/01/2022		1,616		0.0
	17,744	5.500%, 06/01/2022		18,258		0.0
	18,656	5.500%, 06/01/2022		19,055		0.0
	33,571	5.500%, 07/01/2022		34,707		0.0
	2,262	5.500%, 07/01/2022		2,342		0.0
	2,572	5.500%, 08/01/2022		2,628		0.0
	8,582	5.500%, 09/01/2022		8,829		0.0
	45,957	5.500%, 09/01/2022		47,257		0.0
	66,183	5.500%, 11/01/2022		67,529		0.0
	7,948	5.500%, 01/01/2023		8,254		0.0
	5,872	5.500%, 02/01/2023		6,070		0.0
	9,926	5.500%, 03/01/2023		10,242		0.0
	3,323	5.500%, 04/01/2023		3,448		0.0
	11,938	5.500%, 06/01/2023		12,269		0.0
	2,415	5.500%, 08/01/2023		2,508		0.0
	13,765	5.500%, 08/01/2023		14,343		0.0
	4,995	5.500%, 08/01/2023		5,137		0.0
	36,322	5.500%, 08/01/2023		37,862		0.0
	34,455	5.500%, 09/01/2023		35,662		0.0
	8,090	5.500%, 10/01/2023		8,149		0.0
	36,965	5.500%, 11/01/2023		37,968		0.0
	2,297	5.500%, 11/01/2023		2,387		0.0
	4,091	5.500%, 11/01/2023		4,212		0.0
	112,884	5.500%, 02/01/2024		117,537		0.0
	1,661	5.500%, 03/01/2024		1,675		0.0
	29,425	5.500%, 07/01/2024		30,031		0.0
	9,153	5.500%, 07/01/2024		9,551		0.0
	13,928	5.500%, 05/01/2025		14,150		0.0
	45,247	5.500%, 08/01/2025		46,994		0.0
	3,105	5.500%, 07/01/2027		3,329		0.0
	763	5.500%, 08/01/2027		818		0.0
	146,311	5.500%, 03/01/2034		158,689		0.0
	119,979	5.500%, 04/01/2034		130,013		0.0
	54,420	5.500%, 11/01/2034		59,205		0.0
	51,874	5.500%, 12/01/2034		56,442		0.0
	668,083	5.500%, 02/01/2035		725,903		0.0
	92,391	5.500%, 05/01/2035		100,303		0.0
	93,899	5.500%, 09/01/2035		101,788		0.0
	641,840	5.500%, 09/01/2035		690,166		0.0
	130,280	5.500%, 04/01/2036		141,411		0.0
	80,346	5.500%, 04/01/2036		87,038		0.0
	26,944	5.500%, 05/01/2036		29,197		0.0
	95,109	5.500%, 06/01/2036		103,010		0.0
	319,979	5.500%, 07/01/2036		348,261		0.0
	178,465	5.500%, 11/01/2036		193,472		0.0
	53,119	5.500%, 12/01/2036		57,665		0.0
	268,199	5.500%, 12/01/2036		290,753		0.0
	595,797	5.500%, 12/01/2036		645,942		0.0
	88,389	5.500%, 01/01/2037		95,872		0.0
	830,396	5.500%, 03/01/2037		899,270		0.0
	75,084	5.500%, 03/01/2037		81,371		0.0
	380,810	5.500%, 03/01/2037		412,695		0.0
	335,998	5.500%, 08/01/2037		364,431		0.0
	1,104	5.500%, 01/01/2038		1,190		0.0
	910	5.500%, 01/01/2038		983		0.0
	3,485	5.500%, 01/01/2038		3,748		0.0
	13,670	5.500%, 03/01/2038		14,860		0.0
	22,808	5.500%, 05/01/2038		24,497		0.0
	51,656	5.500%, 06/01/2038		55,986		0.0
	1,527,343	5.500%, 09/01/2038		1,654,490		0.1
	367,260	5.500%, 12/01/2038		396,183		0.0
	91,413	5.500%, 06/01/2039		98,907		0.0
	42,606	5.500%, 04/01/2040		45,701		0.0
	122,170	5.500%, 05/01/2040		131,043		0.0
	248,838	5.500%, 06/01/2040		266,913		0.0
	16,691	5.500%, 07/01/2040		17,903		0.0
	157,365	5.700%, 07/01/2036		166,210		0.0
	17,641	5.700%, 07/01/2036		17,663		0.0
	2,176	6.000%, 10/01/2018		2,177		0.0
	8,839	6.000%, 01/01/2034		9,673		0.0
	4,635	6.000%, 07/01/2034		5,068		0.0
	70,648	6.000%, 12/01/2034		77,941		0.0
	33,506	6.000%, 05/01/2035		36,639		0.0
	34,240	6.000%, 01/01/2036		37,449		0.0
	33,118	6.000%, 01/01/2036		36,215		0.0
	25,261	6.000%, 02/01/2036		27,762		0.0
	22,285	6.000%, 03/01/2036		24,544		0.0
	44,541	6.000%, 03/01/2036		49,092		0.0
	34,718	6.000%, 04/01/2036		38,258		0.0
	11,903	6.000%, 04/01/2036		13,064		0.0
	65,831	6.000%, 05/01/2036		72,420		0.0
	523	6.000%, 06/01/2036		575		0.0
	1,858	6.000%, 08/01/2036		2,032		0.0
	18,148	6.000%, 08/01/2036		19,992		0.0
	46,464	6.000%, 09/01/2036		50,810		0.0
	49,598	6.000%, 09/01/2036		54,633		0.0
	60,810	6.000%, 09/01/2036		66,946		0.0
	24,755	6.000%, 09/01/2036		27,152		0.0
	23,104	6.000%, 10/01/2036		25,265		0.0
	21,413	6.000%, 10/01/2036		23,567		0.0
	489,130	6.000%, 12/01/2036		537,288		0.0
	198,009	6.000%, 12/01/2036		216,529		0.0
	74,468	6.000%, 01/01/2037		81,433		0.0
	11,488	6.000%, 02/01/2037		12,648		0.0
	5,703	6.000%, 04/01/2037		6,237		0.0
	111,990	6.000%, 07/01/2037		123,311		0.0
	3,819	6.000%, 08/01/2037		4,200		0.0
	35,758	6.000%, 08/01/2037		39,361		0.0
	1,583	6.000%, 08/01/2037		1,733		0.0
	2,093	6.000%, 09/01/2037		2,298		0.0
	62,071	6.000%, 09/01/2037		67,876		0.0
	7,477	6.000%, 09/01/2037		8,229		0.0
	15,195	6.000%, 09/01/2037		16,710		0.0
	37,672	6.000%, 09/01/2037		41,416		0.0
	521	6.000%, 09/01/2037		573		0.0
	1,734	6.000%, 10/01/2037		1,905		0.0
	2,568	6.000%, 10/01/2037		2,826		0.0
	6,075	6.000%, 10/01/2037		6,700		0.0
	418	6.000%, 10/01/2037		457		0.0
	26,774	6.000%, 11/01/2037		29,430		0.0
	4,143	6.000%, 11/01/2037		4,559		0.0
	22,987	6.000%, 11/01/2037		25,137		0.0
	18,754	6.000%, 11/01/2037		20,623		0.0
	6,380	6.000%, 11/01/2037		6,977		0.0
	61,777	6.000%, 11/01/2037		67,875		0.0
	7,459	6.000%, 11/01/2037		8,157		0.0
	16,525	6.000%, 12/01/2037		18,200		0.0
	9,494	6.000%, 12/01/2037		10,428		0.0
	34,128	6.000%, 12/01/2037		37,463		0.0
	51,463	6.000%, 12/01/2037		56,501		0.0
	4,966	6.000%, 01/01/2038		5,430		0.0
	12,606	6.000%, 01/01/2038		13,785		0.0
	791	6.000%, 02/01/2038		865		0.0
	86,607	6.000%, 02/01/2038		94,862		0.0
	129,661	6.000%, 03/01/2038		141,788		0.0
	6,417	6.000%, 03/01/2038		7,017		0.0
	22,905	6.000%, 04/01/2038		25,233		0.0
	404,116	6.000%, 04/01/2038		445,320		0.0
	30,379	6.000%, 05/01/2038		33,270		0.0
	34,226	6.000%, 05/01/2038		37,556		0.0
	1,960	6.000%, 06/01/2038		2,143		0.0
	27,051	6.000%, 07/01/2038		29,581		0.0
	15,456	6.000%, 07/01/2038		16,902		0.0

See Accompanying Notes to Financial Statements

119

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
			Federal National Mortgage Association: (continued)
	919		6.000%, 08/01/2038		1,005		0.0
	4,171		6.000%, 08/01/2038		4,595		0.0
	37,067		6.000%, 09/01/2038		40,534		0.0
	28,536		6.000%, 09/01/2038		31,215		0.0
	7,112		6.000%, 09/01/2038		7,777		0.0
	82,087		6.000%, 10/01/2038		90,303		0.0
	22,507		6.000%, 10/01/2038		24,612		0.0
	124,427		6.000%, 10/01/2038		137,067		0.0
	22,795		6.000%, 05/01/2039		24,927		0.0
	815,789		6.000%, 10/01/2039		896,229		0.0
	29,264		6.000%, 11/01/2039		32,001		0.0
	9,296		6.500%, 04/01/2028		10,249		0.0
	1,171		6.500%, 04/01/2030		1,291		0.0
	62,809		6.500%, 02/01/2034		69,253		0.0
	9,241		6.500%, 11/01/2034		10,447		0.0
	11,937		6.500%, 01/01/2036		13,165		0.0
	35,917		6.500%, 03/01/2036		40,286		0.0
	81,562		6.500%, 04/01/2036		89,978		0.0
	618		6.500%, 05/01/2036		682		0.0
	4,403		6.500%, 06/01/2036		4,855		0.0
	1,874		6.500%, 07/01/2036		2,098		0.0
	87,943		6.500%, 07/01/2036		97,022		0.0
	3,811		6.500%, 07/01/2036		4,256		0.0
	29,280		6.500%, 07/01/2036		32,740		0.0
	58,861		6.500%, 07/01/2036		64,934		0.0
	9,817		6.500%, 07/01/2036		10,826		0.0
	4,072		6.500%, 08/01/2036		4,491		0.0
	2,382		6.500%, 08/01/2036		2,627		0.0
	147,825		6.500%, 09/01/2036		165,749		0.0
	9,588		6.500%, 09/01/2036		10,576		0.0
	18,290		6.500%, 09/01/2036		20,172		0.0
	1,657		6.500%, 09/01/2036		1,828		0.0
	890		6.500%, 11/01/2036		982		0.0
	4,811		6.500%, 11/01/2036		5,351		0.0
	13,870		6.500%, 12/01/2036		15,291		0.0
	3,770		6.500%, 12/01/2036		4,345		0.0
	51,634		6.500%, 01/01/2037		56,959		0.0
	461		6.500%, 01/01/2037		515		0.0
	6,857		6.500%, 01/01/2037		7,561		0.0
	27,505		6.500%, 01/01/2037		30,344		0.0
	17,414		6.500%, 02/01/2037		19,211		0.0
	8,516		6.500%, 03/01/2037		9,433		0.0
	50,123		6.500%, 03/01/2037		55,296		0.0
	12,768		6.500%, 03/01/2037		14,084		0.0
	134,466		6.500%, 03/01/2037		148,340		0.0
	3,170		6.500%, 04/01/2037		3,496		0.0
	1,186		6.500%, 07/01/2037		1,309		0.0
	4,168		6.500%, 08/01/2037		4,599		0.0
	2,741		6.500%, 08/01/2037		3,023		0.0
	9,385		6.500%, 08/01/2037		10,704		0.0
	114,686		6.500%, 09/01/2037		126,507		0.0
	1,552		6.500%, 09/01/2037		1,711		0.0
	512		6.500%, 09/01/2037		564		0.0
	8,752		6.500%, 09/01/2037		9,706		0.0
	92,843		6.500%, 09/01/2037		102,411		0.0
	3,269		6.500%, 09/01/2037		3,605		0.0
	19,828		6.500%, 09/01/2037		21,869		0.0
	8,745		6.500%, 10/01/2037		9,835		0.0
	3,220		6.500%, 10/01/2037		3,594		0.0
	1,139		6.500%, 10/01/2037		1,256		0.0
	34,484		6.500%, 10/01/2037		38,039		0.0
	37,440		6.500%, 10/01/2037		41,294		0.0
	139,621		6.500%, 11/01/2037		154,687		0.0
	9,848		6.500%, 12/01/2037		10,860		0.0
	64,179		6.500%, 12/01/2037		70,776		0.0
	1,380		6.500%, 12/01/2037		1,522		0.0
	2,972		6.500%, 12/01/2037		3,277		0.0
	1,497		6.500%, 12/01/2037		1,650		0.0
	6,734		6.500%, 12/01/2037		7,429		0.0
	16,002		6.500%, 12/01/2037		17,764		0.0
	1,579		6.500%, 12/01/2037		1,741		0.0
	23,467		6.500%, 01/01/2038		25,883		0.0
	1,463		6.500%, 01/01/2038		1,613		0.0
	556		6.500%, 01/01/2038		613		0.0
	95,530		6.500%, 02/01/2038		105,346		0.0
	68,427		6.500%, 03/01/2038		76,908		0.0
	65,110		6.500%, 04/01/2038		71,879		0.0
	4,205		6.500%, 05/01/2038		4,638		0.0
	1,601		6.500%, 06/01/2038		1,765		0.0
	120,455		6.500%, 08/01/2038		134,911		0.0
	359,623		6.500%, 08/01/2038		405,341		0.0
	71,496		6.500%, 08/01/2038		78,867		0.0
	36,106		6.500%, 09/01/2038		39,828		0.0
	20,901		6.500%, 09/01/2038		23,056		0.0
	51,550		6.500%, 10/01/2038		56,850		0.0
	20,720		6.500%, 10/01/2038		23,387		0.0
	289,311		6.500%, 10/01/2038		321,217		0.0
	5,434		6.500%, 10/01/2038		5,994		0.0
	43,219		6.500%, 11/01/2038		47,685		0.0
	1,707		6.500%, 01/01/2039		1,898		0.0
	72,783		6.500%, 01/01/2039		81,927		0.0
	16,092		6.500%, 03/01/2039		17,747		0.0
	5,533		6.500%, 09/01/2039		6,101		0.0
	805,000		6.625%, 11/15/2030		1,084,465		0.0
	3,430,000		7.125%, 01/15/2030		4,726,856		0.2
	1,560,000		7.250%, 05/15/2030		2,181,077		0.1
					347,310,378		10.4

			Government National Mortgage Association: 7.2%
	84,719,000	⁽⁵⁾	3.000%, 07/01/2044		82,864,114		2.5
	4,721,761		3.500%, 07/20/2047		4,756,057		0.2
	12,584,671		3.500%, 12/20/2047		12,644,961		0.4
	14,247,992		3.500%, 01/20/2048		14,316,252		0.4
	67,490,000	⁽⁵⁾	3.500%, 07/01/2048		67,732,540		2.0
	8,018,310		4.000%, 10/20/2043		8,251,278		0.3
	3,979,625		4.000%, 03/20/2046		4,092,213		0.1
	6,502,315		4.000%, 03/20/2046		6,676,674		0.2
	1,314,759		4.500%, 02/20/2041		1,382,461		0.1
	403,817		4.500%, 03/20/2041		424,584		0.0
	1,550,593		4.500%, 05/20/2041		1,630,714		0.1
	1,752,582		4.500%, 06/20/2041		1,843,504		0.1
	3,262,966		4.500%, 07/20/2041		3,433,087		0.1
	1,331,176		4.500%, 09/20/2041		1,401,096		0.1
	4,061,029		4.500%, 10/20/2041		4,274,210		0.1
	14,235		5.000%, 10/15/2037		15,163		0.0
	2,836		5.000%, 04/15/2038		3,003		0.0
	81,520		5.000%, 03/15/2039		86,811		0.0
	147,396		5.000%, 08/15/2039		157,020		0.0
	1,329,855		5.000%, 09/15/2039		1,416,418		0.1
	1,129,857		5.000%, 09/15/2039		1,202,959		0.0
	1,040,782		5.000%, 02/15/2040		1,094,784		0.0
	764,568		5.000%, 04/15/2040		803,294		0.0
	1,549,892		5.000%, 06/15/2040		1,629,910		0.1
	53,619		5.000%, 07/15/2040		56,217		0.0
	597,781		5.000%, 04/15/2042		624,339		0.0
	963,666		5.000%, 04/20/2042		1,030,712		0.0
	8,602,626		5.000%, 06/20/2048		9,042,709		0.3
	42,197		5.500%, 07/20/2038		45,366		0.0
	549,084		5.500%, 09/20/2039		583,570		0.0
	39,775		5.500%, 10/20/2039		42,762		0.0
	22,450		5.500%, 11/20/2039		24,139		0.0
	913,775		5.500%, 11/20/2039		971,235		0.0
	13,409		5.500%, 12/20/2040		14,241		0.0
	42,333		5.500%, 01/20/2041		45,858		0.0
	294,726		5.500%, 03/20/2041		316,914		0.0
	415,830		5.500%, 04/20/2041		452,012		0.0
	698,738		5.500%, 05/20/2041		751,249		0.0
	641,341		5.500%, 06/20/2041		697,701		0.0
	22,503		6.000%, 10/15/2036		24,813		0.0

See Accompanying Notes to Financial Statements

120

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued)
			Government National Mortgage Association: (continued)
	69,413		6.000%, 08/15/2037		76,442		0.0
	73,319		6.000%, 11/15/2037		80,195		0.0
	17,470		6.000%, 12/15/2037		19,108		0.0
	35,216		6.000%, 01/15/2038		38,518		0.0
	29,547		6.000%, 01/15/2038		32,318		0.0
	80,693		6.000%, 02/15/2038		88,260		0.0
	627		6.000%, 02/15/2038		686		0.0
	36,425		6.000%, 02/15/2038		39,841		0.0
	1,669		6.000%, 04/15/2038		1,826		0.0
	224,666		6.000%, 05/15/2038		245,734		0.0
	235,734		6.000%, 05/15/2038		257,840		0.0
	32,081		6.000%, 07/15/2038		35,090		0.0
	75,437		6.000%, 09/15/2038		82,541		0.0
	59,267		6.000%, 11/15/2038		64,830		0.0
	1,135,655		6.000%, 08/20/2040		1,253,955		0.0
					239,174,128		7.2

			Other U.S. Agency Obligations: 1.1%
	22,990,000		1.100%, 11/06/2018		22,917,398		0.7
	1,500,000	⁽²⁾	1.875%, 08/15/2022		1,451,269		0.1
	5,000,000		2.400%, 09/21/2026		4,729,120		0.1
	10,000		6.150%, 01/15/2038		13,889		0.0
	5,000,000		7.125%, 05/01/2030		6,883,225		0.2
					35,994,901		1.1

		Total U.S. Government Agency Obligations
		(Cost $942,497,159)			932,615,136		28.0

U.S. TREASURY OBLIGATIONS: 41.0%
			U.S. Treasury Bonds: 6.2%
	10,659,000		2.250%, 08/15/2046		9,170,492		0.3
	7,000,000		2.500%, 02/15/2046		6,359,336		0.2
	9,072,000		2.500%, 05/15/2046		8,235,679		0.2
	2,000		2.750%, 11/15/2042		1,921		0.0
	9,022,000		3.000%, 11/15/2044		9,047,727		0.3
	10,042,000		3.000%, 11/15/2045		10,069,851		0.3
	50,201,000	⁽²⁾	3.000%, 02/15/2048		50,328,463		1.5
	2,882,000		3.125%, 02/15/2043		2,955,119		0.1
	5,686,000		3.125%, 08/15/2044		5,830,371		0.2
	33,645,000		3.500%, 02/15/2039		36,617,194		1.1
	13,888,000		3.625%, 08/15/2043		15,462,878		0.5
	14,092,000		3.625%, 02/15/2044		15,707,075		0.5
	13,251,000		3.750%, 11/15/2043		15,048,167		0.4
	7,845,000		3.875%, 08/15/2040		9,018,992		0.3
	6,505,000		4.375%, 05/15/2040		7,997,466		0.2
	830,000		6.000%, 02/15/2026		1,010,752		0.0
	4,025,000		8.125%, 08/15/2019		4,277,349		0.1
					207,138,832		6.2

			U.S. Treasury Notes: 34.8%
	3,000,000		0.750%, 07/31/2018		2,997,467		0.1
	4,498,000		0.750%, 08/31/2018		4,489,662		0.1
	4,006,000		0.750%, 10/31/2018		3,989,726		0.1
	10,000,000		0.750%, 02/15/2019		9,909,961		0.3
	10,000,000		0.750%, 07/15/2019		9,835,352		0.3
	4,033,000		0.750%, 08/15/2019		3,959,981		0.1
	10,000,000	⁽²⁾	0.875%, 04/15/2019		9,890,625		0.3
	9,004,000		0.875%, 09/15/2019		8,839,400		0.3
	10,000,000		1.000%, 03/15/2019		9,913,672		0.3
	27,497,000		1.000%, 08/31/2019		27,054,470		0.8
	5,000,000		1.000%, 10/15/2019		4,909,570		0.1
	4,770,000		1.000%, 11/15/2019		4,676,743		0.1
	10,000,000		1.125%, 02/28/2021		9,622,070		0.3
	8,000,000		1.125%, 08/31/2021		7,632,187		0.2
	29,467,000		1.250%, 11/30/2018		29,365,707		0.9
	10,029,000		1.250%, 12/15/2018		9,990,216		0.3
	11,256,000		1.250%, 12/31/2018		11,204,996		0.3
	1,000		1.250%, 10/31/2019		984		0.0
	11,755,000		1.250%, 01/31/2020		11,531,150		0.3
	3,534,000		1.250%, 02/29/2020		3,461,870		0.1
	13,040,000		1.250%, 10/31/2021		12,459,058		0.4
	16,756,000		1.375%, 09/30/2018		16,730,950		0.5
	20,000,000		1.375%, 01/15/2020		19,665,234		0.6
	933,000		1.375%, 01/31/2020		917,037		0.0
	8,515,000		1.375%, 02/29/2020		8,358,836		0.3
	9,022,000		1.375%, 03/31/2020		8,847,727		0.3
	7,940,000		1.375%, 04/30/2020		7,778,564		0.2
	7,000		1.375%, 08/31/2020		6,827		0.0
	10,000,000		1.375%, 10/31/2020		9,728,320		0.3
	37,540,000		1.375%, 04/30/2021		36,278,157		1.1
	7,000,000		1.375%, 08/31/2023		6,537,073		0.2
	5,000,000		1.375%, 09/30/2023		4,663,088		0.1
	19,814,000		1.500%, 12/31/2018		19,749,372		0.6
	11,925,000		1.500%, 01/31/2019		11,876,322		0.4
	5,048,000		1.500%, 02/28/2019		5,023,647		0.2
	6,540,000		1.500%, 03/31/2019		6,502,702		0.2
	5,304,000		1.500%, 05/31/2019		5,263,909		0.2
	7,002,000		1.500%, 11/30/2019		6,908,458		0.2
	752,000		1.500%, 05/31/2020		737,592		0.0
	4,833,000		1.500%, 01/31/2022		4,639,208		0.1
	10,000,000		1.500%, 02/28/2023		9,465,625		0.3
	10,000,000		1.500%, 03/31/2023		9,456,250		0.3
	9,322,000		1.625%, 03/31/2019		9,277,575		0.3
	2,317,000		1.625%, 04/30/2019		2,304,148		0.1
	19,814,000		1.625%, 07/31/2019		19,652,624		0.6
	12,097,000		1.625%, 08/31/2019		11,988,789		0.4
	4,790,000		1.625%, 12/31/2019		4,730,780		0.1
	2,976,000		1.625%, 08/15/2022		2,850,915		0.1
	6,480,000		1.625%, 04/30/2023		6,155,873		0.2
	10,184,000		1.625%, 05/31/2023		9,666,844		0.3
	4,046,000		1.625%, 10/31/2023		3,819,203		0.1
	24,847,000		1.625%, 02/15/2026		22,795,667		0.7
	22,705,000		1.750%, 09/30/2019		22,516,974		0.7
	7,810,000		1.750%, 04/30/2022		7,543,057		0.2
	18,000,000		1.750%, 09/30/2022		17,311,641		0.5
	69,000		1.750%, 01/31/2023		66,113		0.0
	8,000,000		1.875%, 11/30/2021		7,795,781		0.2
	10,000,000		1.875%, 05/31/2022		9,697,656		0.3
	3,003,000		1.875%, 08/31/2022		2,904,816		0.1
	24,900,000		2.000%, 11/30/2020		24,562,488		0.7
	12,097,000		2.000%, 02/28/2021		11,909,402		0.4
	8,063,000		2.000%, 12/31/2021		7,883,630		0.2
	4,000,000		2.000%, 07/31/2022		3,891,406		0.1
	17,133,000		2.000%, 11/15/2026		16,053,487		0.5
	20,498,000		2.125%, 01/31/2021		20,254,987		0.6
	3,700,000		2.125%, 09/30/2021		3,640,019		0.1
	3,774,000		2.125%, 12/31/2021		3,705,744		0.1
	10,105,000		2.125%, 06/30/2022		9,885,927		0.3
	5,000,000		2.125%, 11/30/2023		4,839,746		0.1
	20,000,000		2.125%, 05/15/2025		19,138,672		0.6
	9,810,000		2.250%, 03/31/2021		9,716,307		0.3
	8,794,000		2.250%, 04/30/2021		8,707,434		0.3
	3,011,000		2.250%, 12/31/2023		2,931,432		0.1
	26,457,000		2.250%, 11/15/2024		25,598,698		0.8
	1,352,000		2.250%, 11/15/2025		1,300,323		0.0
	19,590,000		2.375%, 12/31/2020		19,489,754		0.6
	19,000		2.500%, 05/31/2020		18,992		0.0
	19,404,000		2.500%, 06/30/2020		19,393,767		0.6
	9,874,000		2.500%, 05/15/2024		9,719,140		0.3
	1,184,000		2.625%, 06/15/2021		1,184,162		0.0
	109,770,000		2.625%, 06/30/2023		109,214,719		3.3
	26,255,000		2.750%, 02/15/2019		26,337,560		0.8
	36,569,500		2.750%, 11/15/2023		36,555,929		1.1
	42,052,000		2.750%, 02/15/2024		41,995,328		1.3
	86,990,000		2.750%, 06/30/2025		86,629,807		2.6
	8,375,000		2.875%, 05/31/2025		8,406,570		0.3
	59,068,000		2.875%, 05/15/2028		59,168,370		1.8

See Accompanying Notes to Financial Statements

121

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
U.S. TREASURY OBLIGATIONS: (continued)
			U.S. Treasury Notes: (continued)
	7,790,000		3.500%, 05/15/2020		7,927,999		0.2
					1,156,010,020		34.8

		Total U.S. Treasury Obligations
		(Cost $1,372,730,073)			1,363,148,852		41.0

COMMERCIAL MORTGAGE-BACKED SECURITIES: 2.0%
	2,000,000	⁽¹⁾	BAMLL Commercial Mortgage Securities Trust 2015-200P A, 3.218%, 04/14/2033		1,956,632		0.1
	4,000,000		BENCHMARK 2018-B3 A5 Mortgage Trust, 4.025%, 04/10/2051		4,105,393		0.1
	1,000,000	⁽³⁾	CFCRE Commercial Mortgage Trust 2016-C7 B, 4.508%, 12/10/2054		1,024,172		0.0
	3,000,000		Citigroup Commercial Mortgage Trust 2014-GC19 A4, 4.023%, 03/10/2047		3,089,811		0.1
	1,000,000	^(1),(3)	COMM 2013-CR10 AM, 4.517%, 08/10/2046		1,039,129		0.0
	650,000		COMM 2015-CR23 A3, 3.230%, 05/10/2048		637,267		0.0
	315,000	⁽³⁾	COMM 2015-PC1 B, 4.589%, 07/10/2050		319,537		0.0
	1,000,000		COMM 2016-COR1 A4, 3.091%, 10/10/2049		954,829		0.0
	1,000,000		COMM 2016-COR1 AM, 3.494%, 10/10/2049		971,185		0.0
	1,000,000		COMM 2016-CR28 A4, 3.762%, 02/10/2049		1,003,928		0.0
	1,000,000	^(1),(3)	Core Industrial Trust 2015-TEXW D, 3.977%, 02/10/2034		999,650		0.0
	1,000,000	⁽¹⁾	Core Industrial Trust 2015-WEST A, 3.292%, 02/10/2037		980,231		0.0
	213,538	^(1),(3)	DBUBS 2011-LC2A C, 5.719%, 07/10/2044		222,774		0.0
	500,000		DBJPM Mortgage Trust 16-C1 A4, 3.276%, 05/10/2049		488,587		0.0
	2,000,000	⁽³⁾	Ginnia Mae 2011-20 C, 3.562%, 04/16/2041		1,994,427		0.1
	2,000,000	⁽³⁾	Ginnie Mae 2011-127 C, 3.500%, 03/16/2047		1,973,552		0.1
	6,000,000	⁽³⁾	Ginnie Mae 2011-142 B, 3.485%, 02/16/2044		5,953,306		0.2
	5,000,000	⁽³⁾	Ginnie Mae 2011-38 D, 3.700%, 01/16/2051		4,978,005		0.2
	196,537	⁽³⁾	Ginnie Mae 2011-53 B, 4.397%, 05/16/2051		200,218		0.0
	5,000,000		Ginnie Mae 2014-150 C, 3.400%, 12/16/2049		4,846,564		0.2
	3,000,000		Ginnie Mae 2014-50 C, 3.400%, 02/16/2047		2,891,064		0.1
	1,000,000		GS Mortgage Securities Trust 2012-GCJ7 B, 4.740%, 05/10/2045		1,026,843		0.0
	1,000,000	⁽³⁾	JP Morgan Chase Commercial Mortgage Securities Trust 2013-C13 B, 4.137%, 01/15/2046		1,007,028		0.0
	6,379,463		JP Morgan Chase Commercial Mortgage Securities Trust 2013-C16, 4.166%, 12/15/2046		6,590,459		0.2
	3,000,000		JPMDB Commercial Mortgage Securities Trust 2016-C2 A3A, 2.881%, 06/15/2049		2,849,107		0.1
	2,065,000	⁽¹⁾	Ladder Capital Commercial Mortgage 2013-GCP A2 Mortgage Trust, 3.985%, 02/15/2036		2,062,419		0.1
	3,200,000		Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8 A4 A4, 3.134%, 12/15/2048		3,166,945		0.1
	2,000,000		Morgan Stanley Bank of America Merrill Lynch Trust 2014 C19 A4, 3.526%, 12/15/2047		1,991,807		0.1
	1,250,000	⁽³⁾	Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15 B, 4.565%, 04/15/2047		1,285,257		0.0
	220,000	⁽³⁾	Morgan Stanley Bank of America Merrill Lynch Trust 2015-C21 C, 4.299%, 03/15/2048		210,413		0.0
	100,000	^(1),(3)	Morgan Stanley Capital I Trust 2011-C1 D, 5.599%, 09/15/2047		103,151		0.0
	100,000	^(1),(3)	Morgan Stanley Capital I Trust 2011-C1 E, 5.599%, 09/15/2047		103,253		0.0
	1,000,000	^(1),(3)	MSCG Trust 2015-ALDR A2, 3.577%, 06/07/2035		977,028		0.0
	1,000,000	⁽³⁾	UBS Commercial Mortgage Trust 2018-C9 A4, 4.117%, 03/15/2051		1,026,062		0.0
	2,350,000		Wells Fargo Commercial Mortgage Trust 2015-P2 A3, 3.541%, 12/15/2048		2,342,527		0.1
	2,000,000		Wells Fargo Commercial Mortgage Trust 2016-NXS5 A4, 3.370%, 01/15/2059		1,976,634		0.1

		Total Commercial Mortgage-Backed Securities
		(Cost $70,113,996)			67,349,194		2.0

FOREIGN GOVERNMENT BONDS: 3.0%
	4,206,000		Asian Development Bank, 1.625%, 03/16/2021		4,082,008		0.1
	300,000		Asian Development Bank, 2.125%, 03/19/2025		284,387		0.0
	2,000,000		Asian Development Bank, 2.000%, 02/16/2022		1,942,218		0.1
	3,000,000		Colombia Government International Bond, 4.000%, 02/26/2024		3,000,750		0.1

See Accompanying Notes to Financial Statements

122

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value		Percentage of Net Assets
FOREIGN GOVERNMENT BONDS: (continued)
	1,950,000		Colombia Government International Bond, 7.375%, 09/18/2037		2,437,500		0.1
	1,000,000		Corp Andina de Fomento, 2.125%, 09/27/2021		963,590		0.0
	2,964,000		Corp Andina de Fomento, 4.375%, 06/15/2022		3,073,638		0.1
	4,000,000		European Investment Bank, 1.125%, 08/15/2019		3,938,824		0.1
	6,700,000		European Investment Bank, 1.625%, 06/15/2021		6,475,205		0.2
	2,071,000		European Investment Bank, 1.750%, 05/15/2020		2,036,483		0.1
	3,000,000	⁽²⁾	European Investment Bank, 2.250%, 03/15/2022		2,932,542		0.1
	2,000,000		European Investment Bank, 4.000%, 02/16/2021		2,057,466		0.1
	500,000		Export-Import Bank of Korea, 2.625%, 12/30/2020		492,104		0.0
	500,000		Export-Import Bank of Korea, 3.250%, 08/12/2026		478,189		0.0
	1,000,000		Export-Import Bank of Korea, 4.000%, 01/14/2024		1,007,871		0.0
	1,000,000		Hashemite Kingdom of Jordan Government AID Bond, 2.578%, 06/30/2022		991,514		0.0
	3,000,000		Inter-American Development Bank, 1.750%, 09/14/2022		2,874,078		0.1
	1,000,000		Inter-American Development Bank, 1.875%, 03/15/2021		977,709		0.0
	1,000,000		Inter-American Development Bank, 3.200%, 08/07/2042		997,573		0.0
	2,000,000		International Bank for Reconstruction & Development, 1.250%, 07/26/2019		1,974,570		0.1
	1,000,000		International Finance Corp., 1.250%, 07/16/2018		999,725		0.0
	1,000,000		Japan Bank for International Cooperation/Japan, 1.750%, 05/28/2020		978,364		0.0
	5,000,000		Japan Bank for International Cooperation, 2.125%, 11/16/2020		4,903,389		0.1
	3,000,000	⁽¹⁾	Kommunalbanken AS, 2.250%, 01/25/2022		2,930,631		0.1
	1,800,000	⁽¹⁾	Kommunalbanken AS, 2.500%, 01/11/2023		1,763,296		0.1
	500,000	⁽²⁾	Korea International Bond, 4.125%, 06/10/2044		535,201		0.0
	5,000,000		Mexico Government International Bond, 4.750%, 03/08/2044		4,671,912		0.1
	1,460,000		Panama Government International Bond, 8.875%, 09/30/2027		1,967,350		0.1
	4,000,000		Peruvian Government International Bond, 6.550%, 03/14/2037		5,010,000		0.2
	155,000		Peruvian Government International Bond, 7.125%, 03/30/2019		160,270		0.0
	4,000,000	⁽²⁾	Philippine Government International Bond, 6.375%, 01/15/2032		4,808,684		0.1
	3,000,000		Province of British Columbia Canada, 2.250%, 06/02/2026		2,803,944		0.1
	1,000,000		Province of Ontario Canada, 1.875%, 05/21/2020		982,754		0.0
	13,308,000		Province of Ontario Canada, 4.400%, 04/14/2020		13,680,247		0.4
	3,405,000		Republic of Poland Government International Bond, 5.125%, 04/21/2021		3,579,881		0.1
	5,160,000		Ukraine Government AID Bonds, 1.847%, 05/29/2020		5,104,602		0.2
	3,000,000		Uruguay Government International Bond, 4.500%, 08/14/2024		3,077,700		0.1

		Total Foreign Government Bonds
		(Cost $102,435,811)			100,976,169		3.0

		Total Long-Term Investments
		(Cost $3,510,311,086)			3,482,458,298		104.7

SHORT-TERM INVESTMENTS: 10.0%
			Commercial Paper: 5.5%
	20,000,000		AT&T, Inc., 2.540%, 07/10/2018		19,986,097		0.6
	20,000,000		Autozone Inc D, 2.660%, 07/06/2018		19,991,250		0.6
	20,000,000		Concord Minute, 2.390%, 07/05/2018		19,993,454		0.6
	31,000,000		Consolidated E, 2.940%, 07/03/2018		30,992,515		0.9
	10,000,000		EASTMAN, 2.510%, 07/12/2018		9,991,767		0.3
	7,500,000		Harley Davison, 2.570%, 09/07/2018		7,463,790		0.2
	40,758,000		Johnson CTLS I, 3.280%, 07/02/2018		40,750,681		1.2
	15,000,000		Marriott Intl, 2.520%, 07/11/2018		14,988,625		0.5
	14,250,000		McDonald's Corp., 2.540%, 07/10/2018		14,240,094		0.4
	5,000,000		NBC Universal, 2.470%, 07/19/2018		4,993,583		0.2
					183,391,856		5.5

See Accompanying Notes to Financial Statements

123

Voya U.S. Bond Index Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
			Securities Lending Collateral⁽⁶⁾: 1.8%
	14,309,461		Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.10%, due 07/02/18 (Repurchase Amount $14,311,931, collateralized by various U.S. Government Agency Obligations, 3.000%-4.500%, Market Value plus accrued interest $14,595,650, due 06/01/46-05/15/58)		14,309,461			0.5
	14,309,461		Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $14,312,143, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $14,595,653, due 11/15/42-08/15/44)		14,309,461			0.4
	2,913,373		MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $2,913,881, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $2,971,641, due 02/01/21-10/15/58)		2,913,373			0.1
	3,963,120		National Bank Financial, Repurchase Agreement dated 06/29/18, 2.01%, due 07/02/18 (Repurchase Amount $3,963,775, collateralized by various U.S. Government Securities, 0.000%-6.000%, Market Value plus accrued interest $4,042,383, due 09/06/18-09/09/49)		3,963,120			0.1
	10,346,341		NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $10,347,999, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $10,553,298, due 01/31/20-09/09/49)		10,346,341			0.3
	14,309,461		State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $14,312,166, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $14,595,757, due 07/15/19-02/15/48)		14,309,461			0.4
					60,151,217			1.8

Shares				Value			Percentage of Net Assets
			Mutual Funds: 2.7%
	89,378,000	⁽⁷⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $89,378,000)		89,378,000			2.7

		Total Short-Term Investments
		(Cost $332,943,576)			332,921,073			10.0

		Total Investments in Securities (Cost $3,843,254,662)		$	3,815,379,371			114.7
		Liabilities in Excess of Other Assets			(488,508,323	)		(14.7	)
		Net Assets		$	3,326,871,048			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
(1)	Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers.
(2)	Security, or a portion of the security, is on loan.
(3)	Variable rate security. Rate shown is the rate in effect as of June 30, 2018.
(4)	The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies.
(5)	Settlement is on a when-issued or delayed-delivery basis.
(6)	Represents securities purchased with cash collateral received for securities on loan.
(7)	Rate shown is the 7-day yield as of June 30, 2018.

Reference Rate Abbreviations:
US0003M	3-month LIBOR
US0012M	12-month LIBOR

See Accompanying Notes to Financial Statements

124

Voya Index Plus Largecap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.6%
			Consumer Discretionary: 9.2%
	7,344	⁽¹⁾	Amazon.com, Inc.		12,483,331		1.4
	103,551		Aramark		3,841,742		0.4
	84,350		Best Buy Co., Inc.		6,290,823		0.7
	13,317	⁽¹⁾	Burlington Stores, Inc.		2,004,608		0.2
	80,500		Carnival Corp.		4,613,455		0.5
	338,290		Comcast Corp. – Class A		11,099,295		1.2
	95,003		Gap, Inc.		3,077,147		0.4
	81,624		Home Depot, Inc.		15,924,843		1.8
	42,315		Marriott International, Inc.		5,357,079		0.6
	24,067		McDonald's Corp.		3,771,058		0.4
	83,612		Ross Stores, Inc.		7,086,117		0.8
	40,434		Royal Caribbean Cruises Ltd.		4,188,962		0.5
	61,900		Tupperware Brands Corp.		2,552,756		0.3
					82,291,216		9.2

			Consumer Staples: 6.6%
	40,227		Church & Dwight Co., Inc.		2,138,467		0.2
	47,932		Coca-Cola Co.		2,102,298		0.2
	113,148		PepsiCo, Inc.		12,318,423		1.4
	123,489		Philip Morris International, Inc.		9,970,502		1.1
	180,527		Procter & Gamble Co.		14,091,938		1.6
	53,667		Sysco Corp.		3,664,919		0.4
	64,069		Tyson Foods, Inc.		4,411,151		0.5
	127,233		Walmart, Inc.		10,897,506		1.2
					59,595,204		6.6

			Energy: 6.0%
	107,215		Anadarko Petroleum Corp.		7,853,499		0.9
	122,917		Chevron Corp.		15,540,396		1.7
	14,204		Diamondback Energy, Inc.		1,868,820		0.2
	26,642		EOG Resources, Inc.		3,315,064		0.4
	71,577		Exxon Mobil Corp.		5,921,565		0.7
	146,015		Halliburton Co.		6,579,436		0.7
	62,196		Marathon Petroleum Corp.		4,363,672		0.5
	74,451		Valero Energy Corp.		8,251,404		0.9
					53,693,856		6.0

			Financials: 13.6%
	19,862		Affiliated Managers Group, Inc.		2,952,884		0.3
	142,185		Aflac, Inc.		6,116,799		0.7
	47,935		Allstate Corp.		4,375,027		0.5
	47,013		Ameriprise Financial, Inc.		6,576,178		0.7
	574,932		Bank of America Corp.		16,207,333		1.8
	47,038		Bank of New York Mellon Corp.		2,536,759		0.3
	89,200		Citigroup, Inc.		5,969,264		0.7
	168,776		Citizens Financial Group, Inc.		6,565,386		0.7
	73,638		Comerica, Inc.		6,695,167		0.7
	62,730		Discover Financial Services		4,416,819		0.5
	164,503		JPMorgan Chase & Co.		17,141,213		1.9
	259,608		Keycorp		5,072,740		0.6
	109,077		Lazard Ltd.		5,334,956		0.6
	70,389		Lincoln National Corp.		4,381,715		0.5
	167,307		Morgan Stanley		7,930,352		0.9
	39,771		Prudential Financial, Inc.		3,718,986		0.4
	42,368		S&P Global, Inc.		8,638,412		0.9
	55,975		State Street Corp.		5,210,713		0.6
	73,250		Unum Group		2,709,518		0.3
					122,550,221		13.6

			Health Care: 14.6%
	45,982		AbbVie, Inc.		4,260,232		0.5
	53,792		Amgen, Inc.		9,929,465		1.1
	22,763		Anthem, Inc.		5,418,277		0.6
	67,802		Bristol-Myers Squibb Co.		3,752,163		0.4
	77,641	⁽¹⁾	Celgene Corp.		6,166,248		0.7
	54,671	⁽¹⁾	Centene Corp.		6,736,014		0.8
	46,096		Cigna Corp.		7,834,015		0.9
	104,050		CVS Health Corp.		6,695,617		0.8
	107,350	⁽¹⁾	Express Scripts Holding Co.		8,288,494		0.9
	25,242		Humana, Inc.		7,512,776		0.8
	152,870		Johnson & Johnson		18,549,246		2.1
	137,200		Merck & Co., Inc.		8,328,040		0.9
	403,406		Pfizer, Inc.		14,635,570		1.6
	18,173		Quest Diagnostics, Inc.		1,997,940		0.2
	63,102		UnitedHealth Group, Inc.		15,481,445		1.7
	62,510		Zoetis, Inc.		5,325,227		0.6
					130,910,769		14.6

			Industrials: 10.0%
	37,983		Ametek, Inc.		2,740,853		0.3
	40,579		Boeing Co.		13,614,660		1.5
	119,413		Delta Air Lines, Inc.		5,915,720		0.7
	65,388		Fortune Brands Home & Security, Inc.		3,510,682		0.4
	148,754	⁽¹⁾	HD Supply Holdings, Inc.		6,380,059		0.7
	62,725		Honeywell International, Inc.		9,035,536		1.0
	80,710		Ingersoll-Rand PLC - Class A		7,242,108		0.8
	16,773		L3 Technologies, Inc.		3,225,783		0.4
	158,254		Masco Corp.		5,921,865		0.7
	87,735		Owens Corning, Inc.		5,559,767		0.6
	22,008		Ryder System, Inc.		1,581,495		0.2
	11,751		Snap-On, Inc.		1,888,621		0.2
	42,846		Southwest Airlines Co.		2,180,005		0.2
	43,015		Stanley Black & Decker, Inc.		5,712,822		0.6
	52,389		Union Pacific Corp.		7,422,474		0.8
	93,536		Waste Management, Inc.		7,608,218		0.9
					89,540,668		10.0

			Information Technology: 30.2%
	45,902	⁽¹⁾	Adobe Systems, Inc.		11,191,367		1.3
	18,317	⁽¹⁾	Alphabet, Inc. - Class A		20,683,373		2.3
	174,708		Apple, Inc.		32,340,198		3.6
	157,731		Applied Materials, Inc.		7,285,595		0.8
	167,245	⁽¹⁾	Cadence Design Systems, Inc.		7,243,381		0.8

See Accompanying Notes to Financial Statements

Voya Index Plus Largecap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value			Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	339,911		Cisco Systems, Inc.		14,626,370			1.6
	40,183	⁽¹⁾	Electronic Arts, Inc.		5,666,607			0.6
	127,384	⁽¹⁾	Facebook, Inc.- Class A		24,753,259			2.8
	42,143		Fidelity National Information Services, Inc.		4,468,422			0.5
	105,740	⁽¹⁾	Fortinet, Inc.		6,601,348			0.7
	196,576		HP, Inc.		4,460,309			0.5
	33,646		Lam Research Corp.		5,815,711			0.7
	374,383		Microsoft Corp.		36,917,908			4.1
	62,049		Motorola Solutions, Inc.		7,220,642			0.8
	73,294		NetApp, Inc.		5,755,778			0.6
	246,331	⁽¹⁾	ON Semiconductor Corp.		5,477,170			0.6
	251,211		Oracle Corp.		11,068,357			1.2
	46,109	⁽¹⁾	Red Hat, Inc.		6,195,666			0.7
	172,046		Teradyne, Inc.		6,549,791			0.7
	101,058		Texas Instruments, Inc.		11,141,644			1.3
	75,772		Total System Services, Inc.		6,404,249			0.7
	42,595	⁽¹⁾	VeriSign, Inc.		5,853,405			0.7
	49,967	⁽¹⁾	VMware, Inc.		7,343,650			0.8
	48,424		Western Digital Corp.		3,748,502			0.4
	316,511		Western Union Co.		6,434,669			0.7
	71,783	⁽¹⁾	Worldpay, Inc.		5,870,414			0.7
					271,117,785			30.2

			Materials: 2.6%
	89,321	⁽¹⁾	Berry Plastics Group, Inc.		4,103,407			0.4
	42,257	⁽¹⁾	Crown Holdings, Inc.		1,891,423			0.2
	117,736		DowDuPont, Inc.		7,761,157			0.9
	122,499		Huntsman Corp.		3,576,971			0.4
	54,682		LyondellBasell Industries NV - Class A		6,006,818			0.7
					23,339,776			2.6

			Real Estate: 3.1%
	62,835		American Tower Corp.		9,058,922			1.0
	168,174		Gaming and Leisure Properties, Inc.		6,020,629			0.7
	80,538		Highwoods Properties, Inc.		4,085,693			0.5
	135,888		Host Hotels & Resorts, Inc.		2,863,160			0.3
	32,363		Simon Property Group, Inc.		5,507,859			0.6
					27,536,263			3.1

			Telecommunication Services: 0.6%
	108,558		AT&T, Inc.		3,485,797			0.4
	36,973		Verizon Communications, Inc.		1,860,112			0.2
					5,345,909			0.6

			Utilities: 3.1%
	110,861		Ameren Corp.		6,745,892			0.7
	188,556		Centerpoint Energy, Inc.		5,224,887			0.6
	145,323		Exelon Corp.		6,190,760			0.7
	57,556		NextEra Energy, Inc.		9,613,578			1.1
					27,775,117			3.1

		Total Common Stock
		(Cost $735,763,658)			893,696,784			99.6

SHORT-TERM INVESTMENTS: 0.7%
			Mutual Funds: 0.7%
	6,133,000	⁽²⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $6,133,000)		6,133,000			0.7

		Total Short-Term Investments
		(Cost $6,133,000)			6,133,000			0.7

		Total Investments in Securities (Cost $741,896,658)		$	899,829,784			100.3
		Liabilities in Excess of Other Assets			(2,344,725	)		(0.3	)
		Net Assets		$	897,485,059			100.0

(1)	Non-income producing security.
(2)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Index Plus MidCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.0%
			Consumer Discretionary: 12.6%
	40,745		Best Buy Co., Inc.		3,038,762		0.5
	101,778	⁽¹⁾	Big Lots, Inc.		4,252,285		0.7
	102,861	⁽¹⁾	Brinker International, Inc.		4,896,184		0.8
	92,871		Brunswick Corp.		5,988,322		1.0
	26,894	⁽²⁾	Burlington Stores, Inc.		4,048,354		0.7
	5,689	⁽¹⁾	Cracker Barrel Old Country Store, Inc.		888,679		0.1
	211,362		Dana, Inc.		4,267,399		0.7
	18,369	⁽²⁾	Deckers Outdoor Corp.		2,073,676		0.3
	26,926		Domino's Pizza, Inc.		7,597,709		1.2
	50,879		Gentex Corp.		1,171,235		0.2
	28,948		Jack in the Box, Inc.		2,464,054		0.4
	21,250		John Wiley & Sons, Inc.		1,326,000		0.2
	180,162		KB Home		4,907,613		0.8
	24,141		Kohl's Corp.		1,759,879		0.3
	58,505	⁽²⁾	Live Nation Entertainment, Inc.		2,841,588		0.5
	215,455	⁽²⁾	Michaels Cos, Inc.		4,130,272		0.7
	1,743	⁽²⁾	NVR, Inc.		5,177,320		0.9
	671,469		Office Depot, Inc.		1,712,246		0.3
	166,163		Service Corp. International		5,946,974		1.0
	74,806		TEGNA, Inc.		811,645		0.1
	32,414		Thor Industries, Inc.		3,156,799		0.5
	97,694		Tupperware Brands Corp.		4,028,900		0.7
					76,485,895		12.6

			Consumer Staples: 3.4%
	22,852		Church & Dwight Co., Inc.		1,214,813		0.2
	59,219		Energizer Holdings, Inc.		3,728,428		0.6
	50,514		Flowers Foods, Inc.		1,052,207		0.2
	56,509		Ingredion, Inc.		6,255,546		1.0
	21,990		Nu Skin Enterprises, Inc.		1,719,398		0.3
	44,957	⁽²⁾	Post Holdings, Inc.		3,867,201		0.7
	58,047	⁽²⁾	United Natural Foods, Inc.		2,476,285		0.4
					20,313,878		3.4

			Energy: 5.6%
	44,210	⁽²⁾	Apergy Corp.		1,845,767		0.3
	93,590	⁽²⁾	Dril-Quip, Inc.		4,810,526		0.8
	43,337		EQT Corp.		2,391,336		0.4
	355,544	^(1),(2)	Gulfport Energy Corp.		4,469,188		0.8
	55,995		HollyFrontier Corp.		3,831,738		0.6
	213,737	⁽²⁾	McDermott International, Inc.		4,199,932		0.7
	87,861		PBF Energy, Inc.		3,684,012		0.6
	255,761	⁽²⁾	QEP Resources, Inc.		3,135,630		0.5
	816,485	⁽²⁾	Southwestern Energy Co.		4,327,370		0.7
	61,299		World Fuel Services Corp.		1,251,113		0.2
					33,946,612		5.6

			Financials: 15.7%
	10,071		Ameriprise Financial, Inc.		1,408,731		0.2

See Accompanying Notes to Financial Statements

Voya Index Plus MidCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	72,502		Bank of the Ozarks, Inc.		3,265,490		0.5
	80,913		Cathay General Bancorp.		3,276,167		0.5
	54,449		Chemical Financial Corp.		3,031,176		0.5
	88,361		Citizens Financial Group, Inc.		3,437,243		0.6
	43,513		Comerica, Inc.		3,956,202		0.7
	103,747		East West Bancorp, Inc.		6,764,304		1.1
	147,271		Federated Investors, Inc.		3,434,360		0.6
	110,330		First American Financial Corp.		5,706,268		0.9
	271,045		First Horizon National Corp.		4,835,443		0.8
	636,148	⁽²⁾	Genworth Financial, Inc.		2,862,666		0.5
	35,614		Hartford Financial Services Group, Inc.		1,820,944		0.3
	14,874		International Bancshares Corp.		636,607		0.1
	191,448		Keycorp		3,740,894		0.6
	69,823		Lazard Ltd.		3,415,043		0.6
	116,838		Legg Mason, Inc.		4,057,784		0.7
	6,047		MarketAxess Holdings, Inc.		1,196,459		0.2
	252,667		Old Republic International Corp.		5,030,600		0.8
	35,513		Primerica, Inc.		3,537,095		0.6
	56,247		Progressive Corp.		3,327,010		0.5
	32,162		Reinsurance Group of America, Inc.		4,292,984		0.7
	5,331	⁽²⁾	Signature Bank		681,728		0.1
	131,500		Sterling Bancorp, Inc./DE		3,090,250		0.5
	72,262		Stifel Financial Corp.		3,775,689		0.6
	116,181		Synovus Financial Corp.		6,137,842		1.0
	213,285		TCF Financial Corp.		5,251,077		0.9
	38,994		Wintrust Financial Corp.		3,394,428		0.6
					95,364,484		15.7

			Health Care: 9.0%
	3,163	⁽²⁾	Abiomed, Inc.		1,293,825		0.2
	13,853		AmerisourceBergen Corp.		1,181,245		0.2
	48,708	⁽²⁾	Charles River Laboratories International, Inc.		5,467,960		0.9
	95,164		Encompass Health Corp.		6,444,506		1.1
	238,835	⁽²⁾	Endo International PLC		2,252,214		0.4
	50,208	⁽²⁾	Globus Medical, Inc.		2,533,496		0.4
	55,884		Hill-Rom Holdings, Inc.		4,880,909		0.8
	8,111	⁽²⁾	Idexx Laboratories, Inc.		1,767,712		0.3
	82,014	^(1),(2)	Mallinckrodt PLC - W/I		1,530,381		0.3
	52,774	⁽²⁾	Masimo Corp.		5,153,381		0.9
	13,924	⁽²⁾	NuVasive, Inc.		725,719		0.1
	107,505	⁽¹⁾	Patterson Cos., Inc.		2,437,139		0.4
	41,210		STERIS PLC		4,327,462		0.7
	4,254		Teleflex, Inc.		1,140,965		0.2
	17,222	⁽²⁾	United Therapeutics Corp.		1,948,669		0.3
	35,571	⁽²⁾	WellCare Health Plans, Inc.		8,759,003		1.4
	31,143		Zoetis, Inc.		2,653,072		0.4
					54,497,658		9.0

			Industrials: 14.7%
	57,688		Brink's Co.		4,600,618		0.8

See Accompanying Notes to Financial Statements

Voya Index Plus MidCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Industrials: (continued)
	9,949		Carlisle Cos., Inc.		1,077,576		0.2
	21,350	⁽²⁾	Copart, Inc.		1,207,556		0.2
	46,907		Crane Co.		3,758,658		0.6
	44,573		Curtiss-Wright Corp.		5,305,078		0.9
	56,642		Deluxe Corp.		3,750,267		0.6
	70,479		EMCOR Group, Inc.		5,369,090		0.9
	36,660		EnerSys		2,736,302		0.5
	40,374	⁽²⁾	Esterline Technologies Corp.		2,979,601		0.5
	17,019	⁽²⁾	Genesee & Wyoming, Inc.		1,383,985		0.2
	95,775	⁽²⁾	HD Supply Holdings, Inc.		4,107,790		0.7
	104,198		Herman Miller, Inc.		3,532,312		0.6
	54,087		IDEX Corp.		7,381,794		1.2
	42,290		Ingersoll-Rand PLC - Class A		3,794,682		0.6
	263,005	⁽²⁾	JetBlue Airways Corp.		4,991,835		0.8
	14,507	⁽²⁾	KLX, Inc.		1,043,053		0.2
	55,569		Manpowergroup, Inc.		4,782,268		0.8
	88,575		Masco Corp.		3,314,477		0.6
	59,749		Owens Corning, Inc.		3,786,294		0.6
	380,688		Pitney Bowes, Inc.		3,262,496		0.5
	64,937		Regal Beloit Corp.		5,311,847		0.9
	19,805		Ryder System, Inc.		1,423,187		0.2
	89,371		Timken Co.		3,892,107		0.6
	101,994		Toro Co.		6,145,139		1.0
					88,938,012		14.7

			Information Technology: 16.4%
	173,176	⁽²⁾	ARRIS International PLC		4,233,287		0.7
	44,709		Belden, Inc.		2,732,614		0.5
	42,217		Broadridge Financial Solutions, Inc. ADR		4,859,177		0.8
	77,573	⁽²⁾	Cadence Design Systems, Inc.		3,359,687		0.6
	74,181		CDK Global, Inc.		4,825,474		0.8
	134,698		Convergys Corp.		3,292,019		0.5
	29,841	⁽²⁾	Fair Isaac Corp.		5,768,862		1.0
	120,219	⁽²⁾	Fortinet, Inc.		7,505,272		1.2
	25,730		InterDigital, Inc.		2,081,557		0.3
	45,679		j2 Global, Inc.		3,956,258		0.7
	202,115		Jabil, Inc.		5,590,501		0.9
	16,696		Lam Research Corp.		2,885,904		0.5
	50,225		Leidos Holdings, Inc.		2,963,275		0.5
	6,087		Littelfuse, Inc.		1,388,932		0.2
	48,601		LogMeIn, Inc.		5,018,053		0.8
	35,017	⁽²⁾	Manhattan Associates, Inc.		1,646,149		0.3
	68,860		Maximus, Inc.		4,276,895		0.7
	46,354		MKS Instruments, Inc.		4,436,078		0.7
	19,807		Motorola Solutions, Inc.		2,304,940		0.4
	128,832	⁽²⁾	NCR Corp.		3,862,383		0.6
	105,454	⁽²⁾	Netscout Systems, Inc.		3,131,984		0.5
	30,784	⁽²⁾	Tech Data Corp.		2,527,982		0.4
	169,612		Teradyne, Inc.		6,457,129		1.1
	53,492	⁽²⁾	Trimble, Inc.		1,756,677		0.3
	95,341		Versum Materials, Inc.		3,541,918		0.6
	217,588		Vishay Intertechnology, Inc.		5,048,042		0.8
					99,451,049		16.4

			Materials: 6.3%
	56,780	⁽²⁾	Berry Plastics Group, Inc.		2,608,473		0.5
	22,358		Cabot Corp.		1,381,054		0.2
	118,476		Chemours Co.		5,255,595		0.9

See Accompanying Notes to Financial Statements

Voya Index Plus MidCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Materials: (continued)
	13,770		Greif, Inc. - Class A		728,295		0.1
	41,336		Huntsman Corp.		1,207,011		0.2
	181,217		Louisiana-Pacific Corp.		4,932,727		0.8
	25,328		Minerals Technologies, Inc.		1,908,465		0.3
	27,455		Packaging Corp. of America		3,069,194		0.5
	59,971		PolyOne Corp.		2,591,947		0.4
	159,388		Steel Dynamics, Inc.		7,323,879		1.2
	216,918		Valvoline, Inc.		4,678,921		0.8
	54,300		Worthington Industries, Inc.		2,278,971		0.4
					37,964,532		6.3

			Real Estate: 9.1%
	150,537		CoreCivic, Inc.		3,596,329		0.6
	18,935		Coresite Realty Corp.		2,098,377		0.3
	487,466		Cousins Properties, Inc.		4,723,545		0.8
	22,016		DCT Industrial Trust, Inc.		1,469,128		0.2
	32,780		Equity Lifestyle Properties, Inc.		3,012,482		0.5
	130,096		First Industrial Realty Trust, Inc.		4,337,400		0.7
	66,934		Forest City Realty Trust, Inc.		1,526,764		0.2
	125,681		Highwoods Properties, Inc.		6,375,797		1.0
	145,406		Hospitality Properties Trust		4,160,066		0.7
	85,874		Lamar Advertising Co.		5,866,053		1.0
	108,987		Liberty Property Trust		4,831,394		0.8
	90,114		PotlatchDeltic Corp.		4,582,297		0.8
	20,581	⁽²⁾	SBA Communications Corp.		3,398,335		0.6
	134,123	⁽¹⁾	Tanger Factory Outlet Centers, Inc.		3,150,549		0.5
	102,838		Urban Edge Properties		2,351,905		0.4
					55,480,421		9.1

			Telecommunication Services: 0.5%
	120,267		Telephone & Data Systems, Inc.		3,297,721		0.5

			Utilities: 5.7%
	49,865		AES Corp.		668,690		0.1
	60,903		Ameren Corp.		3,705,948		0.6
	27,124		Centerpoint Energy, Inc.		751,606		0.1
	40,365		Hawaiian Electric Industries		1,384,520		0.2
	43,606		Idacorp, Inc.		4,022,217		0.7
	58,748		MDU Resources Group, Inc.		1,684,893		0.3
	65,304		National Fuel Gas Co.		3,458,500		0.6
	90,105		NorthWestern Corp.		5,158,511		0.8
	49,568		Pinnacle West Capital Corp.		3,993,198		0.7
	93,417		PNM Resources, Inc.		3,633,921		0.6
	121,618		UGI Corp.		6,332,649		1.0
					34,794,653		5.7

		Total Common Stock
		(Cost $541,171,755)			600,534,915		99.0

See Accompanying Notes to Financial Statements

Voya Index Plus MidCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 3.6%
		Securities Lending Collateral⁽³⁾: 2.7%
	7,817,679	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $7,819,016, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $7,974,033, due 07/25/18-06/15/53)		7,817,679		1.3
	819,613	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $819,767, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $836,005, due 11/15/42-08/15/44)		819,613		0.1
	3,907,748	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $3,908,374, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $3,985,914, due 01/31/20-09/09/49)		3,907,748		0.6
	3,907,748	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $3,908,487, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $3,985,932, due 07/15/19-02/15/48)		3,907,748		0.7
				16,452,788		2.7

See Accompanying Notes to Financial Statements

Voya Index Plus MidCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value			Percentage of Net Assets
			Mutual Funds: 0.9%
	5,669,000	⁽⁴⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $5,669,000)		5,669,000			0.9

		Total Short-Term Investments
		(Cost $22,121,788)			22,121,788			3.6

		Total Investments in Securities (Cost $563,293,543)		$	622,656,703			102.6
		Liabilities in Excess of Other Assets			(15,842,415	)		(2.6	)
		Net Assets		$	606,814,288			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
ADR	American Depositary Receipt
(1)	Security, or a portion of the security, is on loan.
(2)	Non-income producing security.
(3)	Represents securities purchased with cash collateral received for securities on loan.
(4)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Index Plus SmallCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 98.7%
			Consumer Discretionary: 14.6%
	16,754		Abercrombie & Fitch Co.		410,138		0.1
	126,054	⁽¹⁾	American Axle & Manufacturing Holdings, Inc.		1,961,400		0.7
	96,078		Barnes & Noble, Inc.		610,095		0.2
	30,637	⁽²⁾	Big Lots, Inc.		1,280,014		0.4
	62,853		Caleres, Inc.		2,161,515		0.7
	19,907		Childrens Place, Inc./The		2,404,766		0.8
	9,161	⁽¹⁾	Cooper-Standard Holdings, Inc.		1,197,068		0.4
	47,272		Dana, Inc.		954,422		0.3
	45,731	⁽¹⁾	Dave & Buster's Entertainment, Inc.		2,176,796		0.7
	127,798		Entravision Communications Corp.		638,990		0.2
	14,938		Ethan Allen Interiors, Inc.		365,981		0.1
	7,540	⁽¹⁾	Five Below, Inc.		736,733		0.2
	31,340		Haverty Furniture Cos., Inc.		676,944		0.2
	64,904		La-Z-Boy, Inc.		1,986,062		0.7
	65,790	⁽¹⁾	M/I Homes, Inc.		1,742,119		0.6
	16,537		Marriott Vacations Worldwide Corp.		1,868,019		0.6
	67,636		MDC Holdings, Inc.		2,081,160		0.7
	24,305	⁽¹⁾	Nautilus, Inc.		381,588		0.1
	61,491		NutriSystem, Inc.		2,367,403		0.8
	440,075		Office Depot, Inc.		1,122,191		0.4
	16,919		Oxford Industries, Inc.		1,403,939		0.5
	88,888	⁽¹⁾	Penn National Gaming, Inc.		2,985,748		1.0
	25,259	⁽¹⁾	Perry Ellis International, Inc.		686,287		0.2
	27,854	⁽²⁾	PetMed Express, Inc.		1,226,969		0.4
	11,934	^(1),(2)	RH		1,667,180		0.6
	19,820		Ruth's Hospitality Group, Inc.		555,951		0.2
	46,090	⁽¹⁾	Sleep Number Corp.		1,337,532		0.4
	44,210		Tailored Brands, Inc.		1,128,239		0.4
	36,656	⁽¹⁾	TopBuild Corp.		2,871,631		1.0
	15,134	⁽¹⁾	Universal Electronics, Inc.		500,179		0.2
	69,681		Wolverine World Wide, Inc.		2,422,808		0.8
					43,909,867		14.6

			Consumer Staples: 3.3%
	185,005	⁽¹⁾	Avon Products, Inc.		299,708		0.1
	16,288	^(1),(2)	Central Garden & Pet Co.		708,202		0.2
	18,720	⁽¹⁾	Central Garden & Pet Co. - A		757,599		0.3
	2,116		Coca-Cola Bottling Co. Consolidated		285,935		0.1
	66,517	⁽¹⁾	Darling Ingredients, Inc.		1,322,358		0.4
	32,967	⁽¹⁾	Hostess Brands, Inc.		448,351		0.2
	14,901		Medifast, Inc.		2,386,544		0.8
	44,821	⁽¹⁾	Performance Food Group Co.		1,644,931		0.5
	36,661		SpartanNash Co.		935,589		0.3
	9,434		Universal Corp.		623,116		0.2
	24,991	⁽²⁾	Vector Group Ltd.		476,828		0.2
					9,889,161		3.3

			Energy: 4.0%
	7,251		Arch Coal, Inc.		568,696		0.2
	66,056	^(1),(2)	Carrizo Oil & Gas, Inc.		1,839,660		0.6
	39,298	⁽¹⁾	Exterran Corp.		984,022		0.3
	48,445	⁽¹⁾	Matrix Service Co.		888,966		0.3
	91,525	⁽¹⁾	McDermott International, Inc.		1,798,466		0.6
	14,294	⁽¹⁾	PDC Energy, Inc.		864,072		0.3
	91,249	⁽¹⁾	ProPetro Holding Corp.		1,430,784		0.5
	10,532	⁽¹⁾	REX American Resources Corp.		852,776		0.3
	103,734	⁽¹⁾	Tetra Technologies, Inc.		461,616		0.1
	55,320	^(1),(2)	Unit Corp.		1,413,979		0.5
	39,595	⁽²⁾	US Silica Holdings, Inc.		1,017,196		0.3
					12,120,233		4.0

			Financials: 17.2%
	71,512		American Equity Investment Life Holding Co.		2,574,432		0.9
	22,016		Amerisafe, Inc.		1,271,424		0.4
	40,451		Bank of NT Butterfield & Son Ltd.		1,849,420		0.6
	21,237	⁽¹⁾	BofI Holding, Inc.		868,806		0.3
	104,842		BrightSphere Investment Group PLC		1,495,047		0.5
	39,833		Central Pacific Financial Corp.		1,141,215		0.4
	27,259		Chemical Financial Corp.		1,517,509		0.5
	33,935	⁽¹⁾	Customers Bancorp, Inc.		963,075		0.3
	15,795		Dime Community Bancshares		308,002		0.1
	25,561	⁽¹⁾	Essent Group Ltd.		915,595		0.3
	13,963		Evercore, Inc.		1,472,398		0.5
	320,364	⁽¹⁾	First BanCorp. Puerto Rico		2,450,785		0.8
	51,458		First Commonwealth Financial Corp.		798,114		0.3
	47,861		Great Western Bancorp, Inc.		2,009,683		0.7
	15,416	⁽¹⁾	Green Dot Corp.		1,131,380		0.4
	58,077		Hanmi Financial Corp.		1,646,483		0.5
	52,156		Home Bancshares, Inc./Conway AR		1,176,639		0.4
	68,723		Hope Bancorp, Inc.		1,225,331		0.4
	6,930		Houlihan Lokey, Inc.		354,955		0.1
	7,913		LegacyTexas Financial Group, Inc.		308,765		0.1
	155,092	⁽¹⁾	MGIC Investment Corp.		1,662,586		0.5
	140,938	⁽¹⁾	NMI Holdings, Inc.		2,297,289		0.8
	59,568		OFG Bancorp		836,930		0.3
	26,250		Piper Jaffray Cos.		2,017,312		0.7
	11,408		Primerica, Inc.		1,136,237		0.4
	102,276		Radian Group, Inc.		1,658,917		0.5
	21,890	⁽¹⁾	Seacoast Banking Corp. of Florida		691,286		0.2
	38,631		Selective Insurance Group		2,124,705		0.7
	81,864		Simmons First National Corp.		2,447,734		0.8
	46,087		Sterling Bancorp, Inc./DE		1,083,045		0.4

See Accompanying Notes to Financial Statements

Voya Index Plus SmallCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Financials: (continued)
	111,542	⁽¹⁾	Third Point Reinsurance Ltd.		1,394,275		0.5
	57,808		Trustco Bank Corp.		514,491		0.2
	60,788		United Community Banks, Inc./GA		1,864,368		0.6
	54,842		Universal Insurance Holdings, Inc.		1,924,954		0.6
	78,973	⁽²⁾	Waddell & Reed Financial, Inc.		1,419,145		0.5
	46,484		Walker & Dunlop, Inc.		2,586,835		0.9
	3,164	⁽¹⁾	World Acceptance Corp.		351,236		0.1
					51,490,403		17.2

			Health Care: 12.0%
	43,248		Aceto Corp.		144,881		0.0
	19,298	⁽¹⁾	Acorda Therapeutics, Inc.		553,853		0.2
	24,849	^(1),(2)	AMAG Pharmaceuticals, Inc.		484,556		0.2
	33,131	⁽¹⁾	Amedisys, Inc.		2,831,375		0.9
	42,036	⁽¹⁾	AMN Healthcare Services, Inc.		2,463,310		0.8
	19,248	⁽¹⁾	Amneal Pharmaceuticals, Inc.		315,860		0.1
	24,417	⁽¹⁾	Amphastar Pharmaceuticals, Inc.		372,603		0.1
	40,547	⁽¹⁾	Angiodynamics, Inc.		901,765		0.3
	17,780	⁽¹⁾	Cambrex Corp.		929,894		0.3
	5,202		Chemed Corp.		1,674,056		0.5
	32,951	⁽¹⁾	Corcept Therapeutics, Inc.		517,990		0.2
	28,332	⁽¹⁾	Cross Country Healthcare, Inc.		318,735		0.1
	41,473	⁽¹⁾	Emergent Biosolutions, Inc.		2,093,972		0.7
	9,763	⁽¹⁾	Haemonetics Corp.		875,546		0.3
	14,297	⁽¹⁾	HealthEquity, Inc.		1,073,705		0.4
	3,728	⁽¹⁾	Inogen, Inc.		694,638		0.2
	39,026	⁽¹⁾	Integer Holdings Corp.		2,523,031		0.8
	13,615	^(1),(2)	Lannett Co., Inc.		185,164		0.1
	38,048	⁽¹⁾	Lantheus Holdings, Inc.		553,598		0.2
	12,830		LeMaitre Vascular, Inc.		429,548		0.1
	4,797	⁽¹⁾	Ligand Pharmaceuticals, Inc.		993,794		0.3
	49,230		Luminex Corp.		1,453,762		0.5
	21,555	⁽¹⁾	Magellan Health, Inc.		2,068,202		0.7
	5,580	⁽¹⁾	Masimo Corp.		544,887		0.2
	45,039	⁽¹⁾	Merit Medical Systems, Inc.		2,305,997		0.8
	29,319	^(1),(2)	MiMedx Group, Inc.		187,348		0.1
	25,406	⁽¹⁾	Myriad Genetics, Inc.		949,422		0.3
	29,867		Owens & Minor, Inc.		499,078		0.2
	23,935		Phibro Animal Health Corp.		1,102,207		0.4
	6,714	⁽¹⁾	PRA Health Sciences, Inc.		626,819		0.2
	23,255	⁽¹⁾	Select Medical Holdings Corp.		422,078		0.1
	26,602	⁽¹⁾	Spectrum Pharmaceuticals, Inc.		557,578		0.2
	35,059	⁽¹⁾	Supernus Pharmaceuticals, Inc.		2,098,281		0.7
	66,400	^(1),(2)	Tivity Health, Inc.		2,337,280		0.8
					36,084,813		12.0

			Industrials: 19.2%
	59,547		ABM Industries, Inc.		1,737,582		0.6
	48,130		ACCO Brands Corp.		666,601		0.2
	25,415		Actuant Corp.		745,930		0.2
	14,279	⁽¹⁾	Aegion Corp.		367,684		0.1
	30,616	⁽¹⁾	Aerojet Rocketdyne Holdings, Inc.		902,866		0.3
	8,095		Allegiant Travel Co.		1,124,800		0.4
	50,296		ArcBest Corp.		2,298,527		0.8
	19,028	⁽¹⁾	ASGN, Inc.		1,487,799		0.5
	9,272	⁽¹⁾	Atlas Air Worldwide Holdings, Inc.		664,802		0.2
	44,350		Barnes Group, Inc.		2,612,215		0.9
	37,457		Briggs & Stratton Corp.		659,618		0.2
	11,150		Brink's Co.		889,213		0.3
	8,417		CIRCOR International, Inc.		311,092		0.1
	8,827		Comfort Systems USA, Inc.		404,277		0.1
	8,407		Curtiss-Wright Corp.		1,000,601		0.3
	5,593		EMCOR Group, Inc.		426,075		0.1
	26,757		EnPro Industries, Inc.		1,871,652		0.6
	30,193		Essendant, Inc.		399,151		0.1
	6,907	⁽¹⁾	Esterline Technologies Corp.		509,737		0.2
	27,746	⁽¹⁾	Gibraltar Industries, Inc.		1,040,475		0.3
	32,127		Greenbrier Cos., Inc.		1,694,699		0.6
	111,537	⁽¹⁾	Harsco Corp.		2,464,968		0.8
	6,835		Hawaiian Holdings, Inc.		245,718		0.1
	31,915		Heidrick & Struggles International, Inc.		1,117,025		0.4
	49,997		Herman Miller, Inc.		1,694,898		0.6
	63,756		Hillenbrand, Inc.		3,006,095		1.0
	15,945		Insperity, Inc.		1,518,761		0.5
	55,345		Korn/Ferry International		3,427,516		1.1
	14,486		Lindsay Corp.		1,404,997		0.5
	23,518		LSC Communications, Inc.		368,292		0.1
	13,129	⁽¹⁾	Lydall, Inc.		573,081		0.2
	11,001		Mobile Mini, Inc.		515,947		0.2
	14,015		Moog, Inc.		1,092,609		0.4
	9,692	⁽²⁾	National Presto Industries, Inc.		1,201,808		0.4
	38,718		Quanex Building Products Corp.		694,988		0.2
	43,070		Simpson Manufacturing Co., Inc.		2,678,523		0.9
	9,522		Skywest, Inc.		494,192		0.2
	46,702	⁽¹⁾	SPX FLOW, Inc.		2,044,147		0.7
	53,059		Tetra Tech, Inc.		3,103,952		1.0
	79,655	⁽²⁾	Triumph Group, Inc.		1,561,238		0.5
	18,241	⁽¹⁾	TrueBlue, Inc.		491,595		0.2
	66,702		Universal Forest Products, Inc.		2,442,627		0.8
	27,668		Watts Water Technologies, Inc.		2,169,171		0.7
	165,530	⁽¹⁾	YRC Worldwide, Inc.		1,663,577		0.6
					57,791,121		19.2

			Information Technology: 14.7%
	35,219	⁽¹⁾	Advanced Energy Industries, Inc.		2,045,872		0.7
	73,338	⁽¹⁾	Amkor Technology, Inc.		629,973		0.2
	71,262		Benchmark Electronics, Inc.		2,077,287		0.7
	3,737		Cabot Microelectronics Corp.		401,952		0.1
	21,416	⁽¹⁾	CACI International, Inc.		3,609,667		1.2
	77,399	⁽¹⁾	CalAmp Corp.		1,813,459		0.6

See Accompanying Notes to Financial Statements

Voya Index Plus SmallCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Information Technology: (continued)
	43,432		Cohu, Inc.		1,064,518		0.4
	14,064		Comtech Telecommunications Corp.		448,360		0.1
	51,432		CSG Systems International, Inc.		2,102,026		0.7
	29,327		CTS Corp.		1,055,772		0.4
	12,976	⁽¹⁾	ePlus, Inc.		1,221,042		0.4
	8,940	⁽¹⁾	Fair Isaac Corp.		1,728,281		0.6
	58,206	⁽¹⁾	Formfactor, Inc.		774,140		0.3
	30,453	⁽¹⁾	Kemet Corp.		735,440		0.2
	37,166		Kulicke & Soffa Industries, Inc.		885,294		0.3
	5,996		Littelfuse, Inc.		1,368,167		0.5
	23,678		Methode Electronics, Inc.		954,223		0.3
	13,354		MKS Instruments, Inc.		1,277,978		0.4
	43,480	⁽¹⁾	Nanometrics, Inc.		1,539,627		0.5
	50,222		NIC, Inc.		780,952		0.3
	39,893	⁽¹⁾	Perficient, Inc.		1,051,978		0.3
	31,374	⁽¹⁾	Plexus Corp.		1,868,008		0.6
	24,007		Power Integrations, Inc.		1,753,711		0.6
	64,148		Progress Software Corp.		2,490,225		0.8
	10,155	⁽¹⁾	Rogers Corp.		1,131,876		0.4
	50,919	⁽¹⁾	Rudolph Technologies, Inc.		1,507,202		0.5
	72,685	⁽¹⁾	Sanmina Corp.		2,129,671		0.7
	11,667	^(1),(2)	SolarEdge Technologies, Inc.		558,266		0.2
	26,523	⁽¹⁾	SYKES Enterprises, Inc.		763,332		0.3
	152,801		Travelport Worldwide Ltd.		2,832,931		0.9
	82,814	⁽¹⁾	TTM Technologies, Inc.		1,460,011		0.5
					44,061,241		14.7

			Materials: 4.6%
	18,098	⁽¹⁾	AdvanSix, Inc.		662,930		0.2
	58,642		Boise Cascade Co.		2,621,297		0.9
	33,335		FutureFuel Corp.		467,023		0.1
	5,854	⁽¹⁾	Ingevity Corp.		473,354		0.2
	12,118		Kaiser Aluminum Corp.		1,261,605		0.4
	27,857	⁽¹⁾	Koppers Holdings, Inc.		1,068,316		0.4
	34,133	⁽¹⁾	Kraton Corp.		1,574,897		0.5
	36,150		PolyOne Corp.		1,562,403		0.5
	7,685		Quaker Chemical Corp.		1,190,176		0.4
	25,298		Stepan Co.		1,973,497		0.7
	25,236		Worthington Industries, Inc.		1,059,155		0.3
					13,914,653		4.6

			Real Estate: 6.0%
	244,402	⁽²⁾	CBL & Associates Properties, Inc.		1,361,319		0.4
	179,539		Cedar Realty Trust, Inc.		847,424		0.3
	92,588		Chesapeake Lodging Trust		2,929,484		1.0
	210,529		DiamondRock Hospitality Co.		2,585,296		0.9
	31,010		EastGroup Properties, Inc.		2,963,316		1.0
	39,741		Four Corners Property Trust, Inc.		978,821		0.3
	55,122		HFF, Inc.		1,893,441		0.6
	14,404		PS Business Parks, Inc.		1,850,914		0.6
	8,827		Saul Centers, Inc.		472,951		0.2
	249,547		Washington Prime Group, Inc.		2,023,826		0.7
					17,906,792		6.0

			Telecommunication Services: 1.0%
	42,323		Cogent Communications Holdings, Inc.		2,260,048		0.8
	56,475	⁽¹⁾	Vonage Holdings Corp.		727,963		0.2
					2,988,011		1.0

			Utilities: 2.1%
	9,162		Avista Corp.		482,471		0.2
	15,932	⁽²⁾	Black Hills Corp.		975,198		0.3
	6,146		El Paso Electric Co.		363,229		0.1
	15,102		Idacorp, Inc.		1,393,008		0.5
	26,045		NorthWestern Corp.		1,491,076		0.5
	29,583		Portland General Electric Co.		1,264,969		0.4
	13,571		South Jersey Industries, Inc.		454,221		0.1
					6,424,172		2.1

		Total Common Stock
		(Cost $244,774,027)			296,580,467		98.7

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 6.3%
		Securities Lending Collateral⁽³⁾: 5.1%
	3,620,394	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $3,620,989, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $3,692,802, due 07/05/18-09/09/49)		3,620,394		1.2
	3,620,394	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $3,621,072, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $3,692,803, due 11/15/42-08/15/44)		3,620,394		1.2

See Accompanying Notes to Financial Statements

Voya Index Plus SmallCap Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral⁽³⁾: (continued)
	761,447	MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $761,580, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $776,676, due 02/01/21-10/15/58)		761,447		0.3
	3,620,394	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $3,620,974, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $3,692,812, due 01/31/20-09/09/49)		3,620,394		1.2
	3,620,394	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $3,621,078, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $3,692,829, due 07/15/19-02/15/48)		3,620,394		1.2
				15,243,023		5.1

Shares				Value			Percentage of Net Assets
			Mutual Funds: 1.2%
	3,741,000	⁽⁴⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $3,741,000)		3,741,000			1.2

		Total Short-Term Investments
		(Cost $18,984,023)			18,984,023			6.3

		Total Investments in Securities (Cost $263,758,050)		$	315,564,490			105.0
		Liabilities in Excess of Other Assets			(15,138,326	)		(5.0	)
		Net Assets		$	300,426,164			100.0

†	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)	Represents securities purchased with cash collateral received for securities on loan.
(4)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Voya Global Equity Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 99.1%
			Australia: 2.0%
	748,041		Aurizon Holdings Ltd.		2,392,191		0.4
	201,353		National Australia Bank Ltd.		4,088,395		0.6
	108,781		Newcrest Mining Ltd.		1,766,293		0.3
	89,457		Sonic Healthcare Ltd.		1,622,756		0.2
	580,484		Telstra Corp., Ltd.		1,122,738		0.2
	1,113,107		Vicinity Centres		2,134,742		0.3
					13,127,115		2.0

			Belgium: 0.8%
	15,336		Groupe Bruxelles Lambert S.A.		1,613,353		0.2
	47,158		UCB S.A.		3,696,735		0.6
					5,310,088		0.8

			Canada: 4.2%
	96,800	⁽¹⁾	AltaGas Ltd.		1,999,102		0.3
	49,400		Bank of Montreal		3,818,528		0.6
	60,000	⁽¹⁾	Bank of Nova Scotia		3,397,406		0.5
	34,900		BCE, Inc.		1,413,362		0.2
	48,700	⁽¹⁾	Canadian Imperial Bank of Commerce - XTSE		4,236,361		0.7
	105,200		CI Financial Corp.		1,890,903		0.3
	77,600		Empire Co. Ltd.		1,557,726		0.2
	71,500		Great-West Lifeco, Inc.		1,757,791		0.3
	36,400		Industrial Alliance Insurance & Financial Services, Inc.		1,405,165		0.2
	73,600		National Bank Of Canada		3,533,741		0.6
	68,400		Shaw Communications, Inc. - Class B		1,393,338		0.2
	21,900		TELUS Corp.		777,948		0.1
					27,181,371		4.2

			China: 0.6%
	752,500		BOC Hong Kong Holdings Ltd.		3,536,703		0.6

			Denmark: 0.7%
	92,088		Novo Nordisk A/S		4,253,597		0.7

			Finland: 0.5%
	35,714		Nokian Renkaat OYJ		1,406,346		0.2
	63,621		Orion Oyj		1,711,090		0.3
					3,117,436		0.5

			France: 1.9%
	19,705		Arkema SA		2,325,198		0.4
	80,021		Bouygues SA		3,438,348		0.5
	19,191		Cie Generale des Etablissements Michelin SCA		2,321,693		0.3
	193,156		Credit Agricole SA		2,563,672		0.4
	16,458		Covivio		1,710,038		0.3
					12,358,949		1.9

			Germany: 4.5%
	6,152		Allianz SE		1,267,650		0.2
	44,818		Bayer AG		4,922,133		0.8
	42,994	⁽²⁾	Covestro AG		3,821,466		0.6
	54,666		Deutsche Lufthansa AG		1,309,670		0.2
	100,203		Deutsche Post AG		3,255,636		0.5
	96,183		Evonik Industries AG		3,290,783		0.5
	46,627		Hugo Boss AG		4,228,562		0.6
	15,312		MAN SE		1,732,689		0.3
	56,983		ProSiebenSat.1 Media SE		1,441,957		0.2
	166,654		TUI AG		3,645,052		0.6
					28,915,598		4.5

			Hong Kong: 1.2%
	270,500		CLP Holdings Ltd.		2,913,661		0.5
	79,300		Hang Seng Bank Ltd.		1,980,149		0.3
	1,528,000		HKT Trust / HKT Ltd.		1,949,139		0.3
	1,464,000		PCCW Ltd.		823,769		0.1
					7,666,718		1.2

			Israel: 1.3%
	357,925		Bank Hapoalim BM		2,426,456		0.3
	529,884		Bank Leumi Le-Israel BM		3,135,368		0.5
	1,614,976		Bezeq Israeli Telecommunication Corp., Ltd.		1,820,075		0.3
	275,802		Israel Chemicals Ltd.		1,263,617		0.2
					8,645,516		1.3

			Japan: 8.5%
	12,400		ABC-Mart, Inc.		677,753		0.1
	85,700		Aozora Bank Ltd.		3,252,453		0.5
	268,300		Astellas Pharma, Inc.		4,083,146		0.6
	99,800		Canon, Inc.		3,272,597		0.5
	79,800		Fuji Film Holdings Corp.		3,112,414		0.5
	106,200		Japan Airlines Co. Ltd.		3,762,780		0.6
	282,300		Japan Post Bank Co. Ltd.		3,282,173		0.5
	106,400		Japan Tobacco, Inc.		2,973,499		0.5
	58,300		Kamigumi Co., Ltd.		1,210,066		0.2
	53,200		Lawson, Inc.		3,322,450		0.5
	15,000		McDonald's Holdings Co. Japan Ltd.		764,905		0.1
	36,300		MEIJI Holdings Co., Ltd.		3,065,689		0.5
	54,100		Nippon Telegraph & Telephone Corp.		2,457,655		0.4
	154,100		NTT DoCoMo, Inc.		3,926,833		0.6
	26,600		Obic Co., Ltd.		2,197,601		0.3
	33,800		Oracle Corp. Japan		2,754,870		0.4
	56,400		Sankyo Co., Ltd.		2,205,511		0.4
	110,400		Sekisui House Ltd.		1,951,252		0.3
	100,100		Seven & I Holdings Co., Ltd.		4,365,930		0.7
	33,100		Sundrug Co., Ltd.		1,340,931		0.2
	536		United Urban Investment Corp.		832,897		0.1
					54,813,405		8.5

			Luxembourg: 0.3%
	26,136		RTL Group SA		1,771,161		0.3

			Netherlands: 3.9%
	258,144		ING Groep NV		3,705,538		0.6
	183,829		Koninklijke Ahold Delhaize NV		4,389,400		0.7
	40,000		LyondellBasell Industries NV - Class A		4,394,000		0.7
	98,582		NN Group NV		3,998,138		0.6

See Accompanying Notes to Financial Statements

Voya Global Equity Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (Unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Netherlands: (continued)
	244,435		Royal Dutch Shell PLC - Class A		8,459,625		1.3
					24,946,701		3.9

			New Zealand: 0.3%
	692,712		Spark New Zealand Ltd.		1,748,238		0.3

			Panama: 0.4%
	27,900		Copa Holdings S.A.- Class A		2,639,898		0.4

			Portugal: 0.4%
	167,284		Jeronimo Martins SGPS SA		2,409,643		0.4

			Singapore: 1.2%
	1,964,800		CapitaLand Mall Trust		2,986,575		0.4
	241,100		Oversea-Chinese Banking Corp., Ltd.		2,053,631		0.3
	291,000		SATS Ltd		1,065,917		0.2
	710,400		Singapore Technologies Engineering Ltd.		1,712,371		0.3
					7,818,494		1.2

			Spain: 0.7%
	–		Banco Bilbao Vizcaya Argentaria SA		–		–
	142,375	⁽¹⁾	Endesa S.A.		3,131,058		0.5
	75,693	⁽¹⁾	Red Electrica Corp. SA		1,537,783		0.2
					4,668,841		0.7

			Switzerland: 2.5%
	16,787		Kuehne & Nagel International AG		2,520,090		0.4
	45,747		Nestle SA		3,545,431		0.6
	25,581		Roche Holding AG		5,675,354		0.9
	14,080		Zurich Insurance Group AG		4,163,879		0.6
					15,904,754		2.5

			United Kingdom: 4.9%
	367,351		Aviva PLC		2,437,404		0.4
	31,288		Berkeley Group Holdings PLC		1,558,548		0.2
	739,255		Direct Line Insurance Group PLC		3,336,014		0.5
	225,382		GlaxoSmithKline PLC		4,543,909		0.7
	100,932		Imperial Brands PLC		3,748,420		0.6
	886,959		Marks & Spencer Group PLC		3,445,360		0.5
	104,277		Persimmon PLC		3,473,431		0.5
	552,114		Royal Mail PLC		3,673,168		0.6
	252,463		Standard Life Aberdeen PLC		1,081,087		0.2
	1,535,834		Taylor Wimpey PLC		3,615,384		0.6
	261,697		Vodafone Group PLC		633,906		0.1
					31,546,631		4.9

			United States: 58.3%
	11,000		3M Co.		2,163,920		0.3
	10,200		Accenture PLC		1,668,618		0.3
	283,339		AES Corp.		3,799,576		0.6
	99,400		Aflac, Inc.		4,276,188		0.7
	185,500		AGNC Investment Corp.		3,448,445		0.5
	22,200		Air Products & Chemicals, Inc.		3,457,206		0.5
	16,451		Allison Transmission Holdings, Inc.		666,101		0.1
	38,800		Ameren Corp.		2,360,980		0.4
	46,400		Amphenol Corp.		4,043,760		0.6
	320,500		Annaly Capital Management, Inc.		3,297,945		0.5
	209,100		Apple Hospitality REIT, Inc.		3,738,708		0.6
	62,800		Apple, Inc.		11,624,908		1.8
	198,215		AT&T, Inc.		6,364,684		1.0
	10,900		AvalonBay Communities, Inc.		1,873,601		0.3
	17,800		Avery Dennison Corp.		1,817,380		0.3
	50,952		Best Buy Co., Inc.		3,800,000		0.6
	13,500		Boeing Co.		4,529,385		0.7
	86,900		Bristol-Myers Squibb Co.		4,809,046		0.8
	34,800		Broadridge Financial Solutions, Inc. ADR		4,005,480		0.6
	54,249		Bruker Corp.		1,575,391		0.2
	21,989		CA, Inc.		783,908		0.1
	26,400		Camden Property Trust		2,405,832		0.4
	70,792		Cardinal Health, Inc.		3,456,773		0.5
	31,200		Carnival Corp.		1,788,072		0.3
	135,200		Centerpoint Energy, Inc.		3,746,392		0.6
	53,000		Chevron Corp.		6,700,790		1.0
	171,285		Chimera Investment Corp.		3,131,090		0.5
	160,128		Cisco Systems, Inc.		6,890,308		1.1
	42,100		Consolidated Edison, Inc.		3,282,958		0.5
	28,600		Convergys Corp.		698,984		0.1
	39,400		Darden Restaurants, Inc.		4,218,164		0.7
	49,065		DXC Technology Co.		3,955,130		0.6
	58,500		Eli Lilly & Co.		4,991,805		0.8
	9,200		Equity Lifestyle Properties, Inc.		845,480		0.1
	13,200		Everest Re Group Ltd.		3,042,336		0.5
	52,300		Expeditors International Washington, Inc.		3,823,130		0.6
	38,600		Extra Space Storage, Inc.		3,852,666		0.6
	67,430		Exxon Mobil Corp.		5,578,484		0.9
	43,400		Fidelity National Information Services, Inc.		4,601,702		0.7
	104,586		FirstEnergy Corp.		3,755,683		0.6
	143,000		H&R Block, Inc.		3,257,540		0.5
	36,569		Home Depot, Inc.		7,134,612		1.1
	34,900		Honeywell International, Inc.		5,027,345		0.8
	205,300		HP, Inc.		4,658,257		0.7
	15,500		Humana, Inc.		4,613,265		0.7
	145,500		Intel Corp.		7,232,805		1.1
	42,879		InterDigital, Inc.		3,468,911		0.5
	38,400		International Business Machines Corp.		5,364,480		0.8
	21,127		Iron Mountain, Inc.		739,656		0.1
	20,200		JM Smucker Co.		2,171,096		0.3
	70,300		Johnson & Johnson		8,530,202		1.3
	28,700		Kimberly-Clark Corp.		3,023,258		0.5
	37,200		KLA-Tencor Corp.		3,814,116		0.6
	50,823		Kohl's Corp.		3,704,997		0.6
	14,600		Lockheed Martin Corp.		4,313,278		0.7
	63,500		Maxim Integrated Products		3,724,910		0.6
	35,700		McDonald's Corp.		5,593,833		0.9
	309,194		MFA Financial, Inc.		2,343,691		0.4

See Accompanying Notes to Financial Statements

Voya Global Equity Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (Unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			United States: (continued)
	23,400		Microsoft Corp.		2,307,474		0.4
	35,400		Motorola Solutions, Inc.		4,119,498		0.6
	94,900		Newmont Mining Corp.		3,578,679		0.6
	12,700		Northrop Grumman Corp.		3,907,790		0.6
	52,900		Omnicom Group		4,034,683		0.6
	123,700		Oracle Corp.		5,450,222		0.9
	133,903		Outfront Media, Inc.		2,604,413		0.4
	57,900		Paychex, Inc.		3,957,465		0.6
	14,981		PBF Energy, Inc.		628,153		0.1
	48,500		PepsiCo, Inc.		5,280,195		0.8
	197,100		Pfizer, Inc.		7,150,788		1.1
	68,745		Philip Morris International, Inc.		5,550,471		0.9
	38,800		Phillips 66		4,357,628		0.7
	15,064		Pinnacle West Capital Corp.		1,213,556		0.2
	156,800		Plains GP Holdings L.P.		3,749,088		0.6
	43,000		Procter & Gamble Co.		3,356,580		0.5
	6,084		Public Storage, Inc.		1,380,216		0.2
	34,000		Quest Diagnostics, Inc.		3,737,960		0.6
	20,900		Raytheon Co.		4,037,462		0.6
	50,700		Republic Services, Inc.		3,465,852		0.5
	84,436		Service Corp. International		3,021,964		0.5
	169,800		Starwood Property Trust, Inc.		3,686,358		0.6
	35,700		T. Rowe Price Group, Inc.		4,144,413		0.7
	53,954		Target Corp.		4,106,979		0.6
	51,200		Texas Instruments, Inc.		5,644,800		0.9
	42,800		Total System Services, Inc.		3,617,456		0.6
	111,631		Two Harbors Investment Corp.		1,763,770		0.3
	52,900		Tyson Foods, Inc.		3,642,165		0.6
	32,000		UnitedHealth Group, Inc.		7,850,880		1.2
	94,800		US Bancorp		4,741,896		0.7
	7,800		Vail Resorts, Inc.		2,138,682		0.3
	44,200		Valero Energy Corp.		4,898,686		0.8
	65,100		Walmart, Inc.		5,575,815		0.9
	20,200		Walt Disney Co.		2,117,162		0.3
	49,600		Waste Management, Inc.		4,034,464		0.6
	109,700		Wells Fargo & Co.		6,081,768		1.0
	20,700		Western Digital Corp.		1,602,387		0.3
	200,300		Western Union Co.		4,072,099		0.6
	52,700		Xilinx, Inc.		3,439,202		0.5
					373,636,380		58.3

		Total Common Stock
		(Cost $642,180,192)			636,017,237		99.1

EXCHANGE-TRADED FUNDS: 0.2%
	6,132		iShares MSCI EAFE Index Fund		410,660		0.1
	3,231		SPDR S&P 500 ETF Trust		876,506		0.1

		Total Exchange-Traded Funds
		(Cost $1,324,801)			1,287,166		0.2

		Total Long-Term Investments
		(Cost $643,504,993)			637,304,403		99.3

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: 2.4%
		Securities Lending Collateral⁽³⁾: 2.4%
	3,609,755	Cantor Fitzgerald Securities, Repurchase Agreement dated 06/29/18, 2.08%, due 07/02/18 (Repurchase Amount $3,610,372, collateralized by various U.S. Government Agency Obligations, 1.691%-8.500%, Market Value plus accrued interest $3,681,950, due 07/25/18-06/15/53)		3,609,755		0.6
	3,609,755	Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $3,610,348, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $3,681,950, due 07/05/18-09/09/49)		3,609,755		0.6
	3,609,755	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $3,610,431, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $3,681,951, due 11/15/42-08/15/44)		3,609,755		0.6
	759,285	Nomura Securities, Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $759,417, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%-9.000%, Market Value plus accrued interest $774,471, due 07/15/18-05/20/68)		759,285		0.1

See Accompanying Notes to Financial Statements

Voya Global Equity Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (Unaudited) (continued)

Principal Amount†				Value			Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
			Securities Lending Collateral⁽³⁾: (continued)
	3,609,755		State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $3,610,437, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $3,681,977, due 07/15/19-02/15/48)		3,609,755			0.5
					15,198,305			2.4

		Total Short-Term Investments
		(Cost $15,198,305)			15,198,305			2.4

		Total Investments in Securities (Cost $658,703,298)		$	652,502,708			101.7
		Liabilities in Excess of Other Assets			(11,063,104	)		(1.7	)
		Net Assets		$	641,439,604			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
ADR	American Depositary Receipt
(1)	Security, or a portion of the security, is on loan.
(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)	Represents securities purchased with cash collateral received for securities on loan.

See Accompanying Notes to Financial Statements

Voya Small Company Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (Unaudited)

Shares				Value		Percentage of Net Assets
COMMON STOCK: 96.9%
			Consumer Discretionary: 12.2%
	114,276	⁽¹⁾	Big Lots, Inc.		4,774,451		0.7
	133,859		Caleres, Inc.		4,603,411		0.7
	131,628	⁽¹⁾	Camping World Holdings, Inc.		3,288,068		0.5
	56,054		Childrens Place, Inc./The		6,771,323		1.0
	205,569		Dana, Inc.		4,150,438		0.6
	295,637		Extended Stay America, Inc.		6,388,716		1.0
	268,229	⁽²⁾	Gray Television, Inc.		4,238,018		0.6
	62,214	⁽²⁾	Helen of Troy Ltd.		6,124,968		0.9
	75,883		Jack in the Box, Inc.		6,459,161		1.0
	55,213		Lithia Motors, Inc.		5,221,494		0.8
	97,329	⁽²⁾	Malibu Boats, Inc.		4,081,978		0.6
	59,245		Marriott Vacations Worldwide Corp.		6,692,315		1.0
	381,287	^(1),(2)	Party City Holdco, Inc.		5,814,627		0.9
	111,320	⁽²⁾	Red Robin Gourmet Burgers, Inc.		5,187,512		0.8
	206,142	⁽¹⁾	Red Rock Resorts, Inc.		6,905,757		1.1
					80,702,237		12.2

			Consumer Staples: 1.7%
	404,365	⁽²⁾	Hostess Brands, Inc.		5,499,364		0.8
	162,449	⁽²⁾	Performance Food Group Co.		5,961,878		0.9
					11,461,242		1.7

			Energy: 4.2%
	225,244	^(1),(2)	Carrizo Oil & Gas, Inc.		6,273,045		1.0
	48,619	⁽²⁾	Dril-Quip, Inc.		2,499,017		0.4
	396,265	⁽²⁾	Forum Energy Technologies, Inc.		4,893,873		0.7
	481,735	⁽²⁾	Laredo Petroleum, Inc.		4,634,291		0.7
	271,275	⁽²⁾	QEP Resources, Inc.		3,325,831		0.5
	236,917	⁽²⁾	Unit Corp.		6,055,599		0.9
					27,681,656		4.2

			Financials: 19.8%
	79,259		Bank of NT Butterfield & Son Ltd.		3,623,721		0.5
	328,927		BrightSphere Investment Group PLC		4,690,499		0.7
	199,271		Cadence BanCorp		5,752,954		0.9
	193,170		CenterState Bank Corp.		5,760,329		0.9
	135,441		Chemical Financial Corp.		7,540,000		1.1
	162,378		Great Western Bancorp, Inc.		6,818,252		1.0
	97,706		Horace Mann Educators Corp.		4,357,688		0.7
	142,395		Houlihan Lokey, Inc.		7,293,472		1.1
	92,234		Independent Bank Group, Inc.		6,161,231		0.9
	178,203		Luther Burbank Corp.		2,050,226		0.3
	87,534		MB Financial, Inc.		4,087,838		0.6
	77,059		Pinnacle Financial Partners, Inc.		4,727,570		0.7
	57,795		Piper Jaffray Cos.		4,441,546		0.7
	51,314		Primerica, Inc.		5,110,874		0.8
	103,923		ProAssurance Corp.		3,684,070		0.6
	283,798		Radian Group, Inc.		4,603,204		0.7
	330,464		Redwood Trust, Inc.		5,442,742		0.8
	189,747	⁽²⁾	Seacoast Banking Corp. of Florida		5,992,210		0.9
	112,697		Selective Insurance Group		6,198,335		0.9
	161,637		Simmons First National Corp.		4,832,946		0.7
	98,922		Sterling Bancorp, Inc./DE		2,324,667		0.3
	174,993		Sterling Bancorp, Inc./MI		2,337,907		0.4
	111,041		Stifel Financial Corp.		5,801,892		0.9
	37,123	⁽²⁾	Texas Capital Bancshares, Inc.		3,396,755		0.5
	142,666		Union Bankshares Corp.		5,546,854		0.8
	36,655		Wintrust Financial Corp.		3,190,818		0.5
	109,274		WSFS Financial Corp.		5,824,304		0.9
					131,592,904		19.8

			Health Care: 12.9%
	26,453	^(1),(2)	Aerie Pharmaceuticals, Inc.		1,786,900		0.3
	64,963	⁽²⁾	Amedisys, Inc.		5,551,738		0.8
	99,283	⁽²⁾	AMN Healthcare Services, Inc.		5,817,984		0.9
	51,947	⁽²⁾	Arena Pharmaceuticals, Inc.		2,264,889		0.3
	166,702	⁽²⁾	Array Biopharma, Inc.		2,797,260		0.4
	35,032	⁽²⁾	Blueprint Medicines Corp.		2,223,831		0.3
	14,929		Chemed Corp.		4,804,301		0.7
	53,189	^(1),(2)	Clovis Oncology, Inc.		2,418,504		0.4
	129,489	⁽²⁾	Dermira, Inc.		1,191,299		0.2
	71,727		Encompass Health Corp.		4,857,352		0.7
	67,458	⁽²⁾	Epizyme, Inc.		914,056		0.1
	36,477	^(1),(2)	Esperion Therapeutics, Inc.		1,429,534		0.2
	55,516	⁽²⁾	FibroGen, Inc.		3,475,302		0.5
	40,632	⁽²⁾	G1 Therapeutics, Inc.		1,765,867		0.3
	57,691	⁽²⁾	HealthEquity, Inc.		4,332,594		0.7
	60,264		Hill-Rom Holdings, Inc.		5,263,458		0.8
	132,429	⁽²⁾	Immunogen, Inc.		1,288,534		0.2
	99,975	^(1),(2)	Immunomedics, Inc.		2,366,408		0.4
	91,325	^(1),(2)	Insmed, Inc.		2,159,836		0.3
	8,705	⁽²⁾	Ligand Pharmaceuticals, Inc.		1,803,415		0.3
	13,156	⁽²⁾	Loxo Oncology, Inc.		2,282,303		0.3
	72,706	⁽²⁾	MacroGenics, Inc.		1,501,379		0.2
	25,279	⁽²⁾	Masimo Corp.		2,468,494		0.4
	68,308	⁽²⁾	Medidata Solutions, Inc.		5,502,892		0.8
	12,372	^(1),(2)	Puma Biotechnology, Inc.		731,804		0.1
	54,819	^(1),(2)	Radius Health, Inc.		1,615,516		0.2
	37,785	⁽²⁾	Supernus Pharmaceuticals, Inc.		2,261,432		0.3
	304,542	^(1),(2)	TherapeuticsMD, Inc.		1,900,342		0.3
	122,494	⁽²⁾	Tivity Health, Inc.		4,311,789		0.7
	30,765	⁽²⁾	Ultragenyx Pharmaceutical, Inc.		2,364,906		0.4

See Accompanying Notes to Financial Statements

Voya Small Company Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (Unaudited) (continued)

Shares				Value		Percentage of Net Assets
COMMON STOCK: (continued)
			Health Care: (continued)
	90,045	⁽²⁾	Wright Medical Group NV		2,337,568		0.4
					85,791,487		12.9

			Industrial: 1.0%
	151,169	⁽¹⁾	Healthcare Services Group, Inc.		6,528,989		1.0

			Industrials: 15.4%
	202,474		ABM Industries, Inc.		5,908,191		0.9
	202,272		Actuant Corp.		5,936,683		0.9
	89,564	⁽²⁾	Atlas Air Worldwide Holdings, Inc.		6,421,739		1.0
	94,286		Barnes Group, Inc.		5,553,446		0.8
	121,298	⁽²⁾	Beacon Roofing Supply, Inc.		5,169,721		0.8
	28,774		Curtiss-Wright Corp.		3,424,682		0.5
	93,492		EMCOR Group, Inc.		7,122,221		1.1
	56,579	⁽²⁾	Esterline Technologies Corp.		4,175,530		0.6
	54,380	⁽¹⁾	GATX Corp.		4,036,627		0.6
	108,115		Granite Construction, Inc.		6,017,681		0.9
	674,238		Pitney Bowes, Inc.		5,778,220		0.9
	66,768		Regal Beloit Corp.		5,461,622		0.8
	125,016	⁽²⁾	SPX FLOW, Inc.		5,471,950		0.8
	120,726		Tetra Tech, Inc.		7,062,471		1.1
	174,789		Universal Forest Products, Inc.		6,400,773		1.0
	79,687		Watts Water Technologies, Inc.		6,247,461		1.0
	127,184		Werner Enterprises, Inc.		4,775,759		0.7
	89,163		Woodward, Inc.		6,853,068		1.0
					101,817,845		15.4

			Information Technology: 15.3%
	332,556	⁽²⁾	8x8, Inc.		6,667,748		1.0
	295,546	⁽²⁾	ACI Worldwide, Inc.		7,291,120		1.1
	37,638	⁽²⁾	CACI International, Inc.		6,343,885		1.0
	306,983	⁽²⁾	Conduent, Inc.		5,577,881		0.8
	78,086	⁽²⁾	Cornerstone OnDemand, Inc.		3,703,619		0.6
	142,407		Entegris, Inc.		4,827,597		0.7
	52,890	⁽²⁾	Euronet Worldwide, Inc.		4,430,595		0.7
	115,743	⁽²⁾	Everbridge, Inc.		5,488,533		0.8
	22,338	⁽²⁾	Fair Isaac Corp.		4,318,382		0.6
	171,815	^(1),(2)	Finisar Corp.		3,092,670		0.5
	107,021	⁽²⁾	GreenSky, Inc.		2,263,494		0.3
	83,614		j2 Global, Inc.		7,241,809		1.1
	14,626		Littelfuse, Inc.		3,337,361		0.5
	201,723	⁽²⁾	Netscout Systems, Inc.		5,991,173		0.9
	107,326	⁽²⁾	Plexus Corp.		6,390,190		1.0
	125,153	⁽²⁾	Rudolph Technologies, Inc.		3,704,529		0.6
	97,461	⁽²⁾	Semtech Corp.		4,585,540		0.7
	42,424		SYNNEX Corp.		4,094,340		0.6
	209,125	⁽²⁾	TTM Technologies, Inc.		3,686,874		0.5
	106,567	⁽²⁾	Verint Systems, Inc.		4,726,246		0.7
	78,135	⁽²⁾	Virtusa Corp.		3,803,612		0.6
					101,567,198		15.3

			Materials: 4.1%
	106,398		Carpenter Technology Corp.		5,593,343		0.8
	250,354		Commercial Metals Co.		5,284,973		0.8
	70,972		Minerals Technologies, Inc.		5,347,740		0.8
	136,480		PolyOne Corp.		5,898,666		0.9
	122,696		Worthington Industries, Inc.		5,149,551		0.8
					27,274,273		4.1

			Real Estate: 6.4%
	302,106		Americold Realty Trust		6,652,374		1.0
	715,319		Cousins Properties, Inc.		6,931,441		1.0
	345,402		Easterly Government Properties, Inc.		6,825,144		1.0
	188,627		First Industrial Realty Trust, Inc.		6,288,824		1.0
	125,918		Healthcare Realty Trust, Inc.		3,661,695		0.6
	169,178		Hudson Pacific Properties, Inc.		5,993,977		0.9
	251,728		Urban Edge Properties		5,757,019		0.9
					42,110,474		6.4

			Telecommunication Services: 0.9%
	447,442	⁽²⁾	Vonage Holdings Corp.		5,767,527		0.9

			Utilities: 3.0%
	91,669	⁽¹⁾	Black Hills Corp.		5,611,059		0.8
	61,299		Idacorp, Inc.		5,654,220		0.9
	70,634		NorthWestern Corp.		4,043,797		0.6
	114,154		Portland General Electric Co.		4,881,225		0.7
					20,190,301		3.0

		Total Common Stock
		(Cost $580,441,248)			642,486,133		96.9

EXCHANGE-TRADED FUNDS: 1.1%
	44,904		iShares Russell 2000 ETF		7,353,928		1.1

		Total Exchange-Traded Funds
		(Cost $6,021,380)			7,353,928		1.1

		Total Long-Term Investments
		(Cost $586,462,628)			649,840,061		98.0

Principal
Amount†

Value

Percentage
of Net
Assets

SHORT-TERM INVESTMENTS: 7.8%

Securities Lending Collateral⁽³⁾: 4.8%

7,556,350

Jefferies LLC, Repurchase Agreement dated 06/29/18, 2.00%, due 07/02/18 (Repurchase Amount $7,557,592, collateralized by various U.S. Government Securities, 0.000%-2.375%, Market Value plus accrued interest $7,707,477, due 07/05/18-09/09/49)

7,556,350

1.2

See Accompanying Notes to Financial Statements

Voya Small Company Portfolio

PORTFOLIO OF INVESTMENTS
as of June 30, 2018 (Unaudited) (continued)

Principal Amount†			Value		Percentage of Net Assets
SHORT-TERM INVESTMENTS: (continued)
		Securities Lending Collateral⁽³⁾: (continued)
	7,556,350	Millenium Fixed Income Ltd., Repurchase Agreement dated 06/29/18, 2.28%, due 07/02/18 (Repurchase Amount $7,557,766, collateralized by various U.S. Government Securities, 2.750%-3.125%, Market Value plus accrued interest $7,707,478, due 11/15/42-08/15/44)		7,556,350		1.1
	1,589,106	MUFG Securities America Inc., Repurchase Agreement dated 06/29/18, 2.12%, due 07/02/18 (Repurchase Amount $1,589,383, collateralized by various U.S. Government Agency Obligations, 2.430%-6.000%, Market Value plus accrued interest $1,620,888, due 02/01/21-10/15/58)		1,589,106		0.3
	7,556,350	NBC Global Finance Ltd., Repurchase Agreement dated 06/29/18, 1.95%, due 07/02/18 (Repurchase Amount $7,557,561, collateralized by various U.S. Government Securities, 0.000%-3.625%, Market Value plus accrued interest $7,707,499, due 01/31/20-09/09/49)		7,556,350		1.1
	7,556,350	State of Wisconsin Investment Board, Repurchase Agreement dated 06/29/18, 2.30%, due 07/02/18 (Repurchase Amount $7,557,778, collateralized by various U.S. Government Securities, 0.125%-3.875%, Market Value plus accrued interest $7,707,533, due 07/15/19-02/15/48)		7,556,350		1.1
				31,814,506		4.8

Shares				Value			Percentage of Net Assets
			Mutual Funds: 3.0%
	20,066,000	⁽⁴⁾	Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Institutional Share Class), 1.810%
			(Cost $20,066,000)		20,066,000			3.0

		Total Short-Term Investments
		(Cost $51,880,506)			51,880,506			7.8

		Total Investments in Securities (Cost $638,343,134)		$	701,720,567			105.8
		Liabilities in Excess of Other Assets			(38,362,519	)		(5.8	)
		Net Assets		$	663,358,048			100.0

†	Unless otherwise indicated, principal amount is shown in USD.
(1)	Security, or a portion of the security, is on loan.
(2)	Non-income producing security.
(3)	Represents securities purchased with cash collateral received for securities on loan.
(4)	Rate shown is the 7-day yield as of June 30, 2018.

See Accompanying Notes to Financial Statements

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

Not applicable.

Item 11. Controls and Procedures.

(a)

Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-CSR are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-CSR and the officer certifications of such Form N-CSR.

(b)

There were no significant changes in the registrant’s internal controls that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

(a)(1)

The Code of Ethics is not required for the semi-annual filing.

(a)(2)

A separate certification for each principal executive officer and principal financial officer of the registrant is required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT.

(a)(3)

Not required for semi-annual filing.

(b)

The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant): Voya Variable Portfolios, Inc.

By	/s/ Michael Bell
	Michael Bell
	Chief Executive Officer

Date:	September 7, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By	/s/ Michael Bell
	Michael Bell
	Chief Executive Officer

Date:	September 7, 2018

By	/s/ Todd Modic
	Todd Modic
	Senior Vice President and Chief Financial Officer

Date:	September 7, 2018