Voya Strategic Allocation Moderate Portfolio	PORTFOLIO OF INVESTMENTS
	as of September 30, 2019 (Unaudited)

Shares				Value		Percentage of Net Assets
EXCHANGE-TRADED FUNDS: 14.0%
	42,579		Schwab U.S. TIPS ETF	$	2,416,784		2.0
	21,238		Vanguard Global ex-U.S. Real Estate ETF		1,244,335		1.0
	13,333		Vanguard Real Estate ETF		1,243,302		1.0
	37,296		Vanguard Russell 1000 Growth ETF		6,122,511		4.9
	56,427		Vanguard Value ETF		6,298,382		5.1
		Total Exchange-Traded Funds
		(Cost $16,933,292)			17,325,314		14 .0
MUTUAL FUNDS: 85.8%
			Affiliated Investment Companies: 85.8%
	388,300		Voya Floating Rate Fund - Class I		3,684,971		3.0
	616,053		Voya High Yield Bond Fund - Class R6		4,916,100		4.0
	141,568		Voya Index Plus LargeCap Portfolio - Class I		3,747,313		3.0
	1,398,036		Voya Intermediate Bond Fund - Class R6		14,595,498		11.8
	423,815		Voya Large Cap Value Portfolio - Class I		4,945,918		4.0
	170,010		Voya Large-Cap Growth Fund - Class R6		7,827,245		6.3
	603,318		Voya Limited Maturity Bond Portfolio - Class I		6,105,579		5.0
	184,930		Voya MidCap Opportunities Portfolio - Class I		2,402,246		2.0
	416,808		Voya Multi-Manager Emerging Markets Equity Fund - Class I		4,972,523		4.0
	422,312		Voya Multi-Manager International Equity Fund - Class I		4,683,439		3.8
	503,928		Voya Multi-Manager International Factors Fund - Class I		4,711,729		3.8
	253,940		Voya Multi-Manager Mid Cap Value Fund - Class I		2,554,638		2.1
	199,813		Voya Small Company Portfolio - Class I		3,127,071		2.5
	476,481		Voya Strategic Income Opportunities Fund - Class R6		4,912,522		4.0
	442,944		Voya U.S. Bond Index Portfolio - Class I		4,859,101		3.9
	765,493		Voya U.S. High Dividend Low Volatility Fund - Class R6		9,407,914		7.6
	1,177,429		Voya U.S. Stock Index Portfolio - Class I		18,579,822		15.0
		Total Mutual Funds
		(Cost $98,963,847)			106,033,629		85.8
		Total Investments in Securities (Cost $115,897,139)		$	123,358,943		99.8
		Assets in Excess of Other Liabilities			253,003		0.2
		Net Assets		$	123,611,946		100.0

Voya Strategic Allocation Moderate Portfolio	PORTFOLIO OF INVESTMENTS
	as of September 30, 2019 (Unaudited) (Continued)

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of September 30, 2019 in valuing the assets and liabilities:

	Quoted Prices in Active Markets for Identical Investments (Level 1)			Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value at September 30, 2019
Asset Table
Investments, at fair value
Exchange-Traded Funds	$	17,325,314		$	–	$	–	$	17,325,314
Mutual Funds		106,033,629			–		–		106,033,629
Total Investments, at fair value	$	123,358,943		$	–	$	–	$	123,358,943
Other Financial Instruments+
Futures		68,874			–		–		68,874
Total Assets	$	123,427,817		$	–	$	–	$	123,427,817
Liabilities Table
Other Financial Instruments+
Futures	$	(52,854	)	$	–	$	–	$	(52,854	)
Total Liabilities	$	(52,854	)	$	–	$	–	$	(52,854	)

+ 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.

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 September 30, 2019, where the following issuers were considered an affiliate:

Issuer	Beginning Fair Value at 12/31/18		Purchases at Cost		Sales at Cost			Change in Unrealized Appreciation/(Depreciation)			Ending Fair Value at 9/30/19		Investment Income		Realized Gains/(Losses)			Net Capital Gain Distributions
Voya Emerging Markets Index Portfolio - Class I	$	5,886,360	$	51,452	$	(5,745,571	)	$	(192,241	)	$	–	$	–	$	899,161		$	–
Voya Floating Rate Fund - Class I		5,895,803		550,786		(2,915,631	)		154,013			3,684,971		162,713		(76,435	)		–
Voya High Yield Bond Fund - Class R6		–		5,373,083		(482,210	)		25,227			4,916,100		122,278		(1,955	)		–
Voya Index Plus LargeCap Portfolio - Class I		3,553,126		603,697		(645,167	)		235,657			3,747,313		56,390		78,403			310,440
Voya Intermediate Bond Fund - Class R6		18,856,724		3,493,847		(8,858,652	)		1,103,579			14,595,498		453,015		18,453			–
Voya International Index Portfolio - Class I		7,066,127		116,888		(5,378,939	)		(1,804,076	)		–		–		2,657,261			–
Voya Large Cap Value Portfolio - Class I		7,239,747		990,061		(3,039,639	)		(244,251	)		4,945,918		16,857		1,013,055			341,916
Voya Large-Cap Growth Fund - Class R6		7,702,435		654,839		(2,291,223	)		1,761,194			7,827,245		–		(146,066	)		–
Voya Limited Maturity Bond Portfolio - Class I		2,351,142		4,634,677		(988,222	)		107,982			6,105,579		58,686		3,946			–
Voya MidCap Opportunities Portfolio - Class I		2,967,495		373,002		(831,188	)		(107,063	)		2,402,246		2,308		358,398			283,050
Voya Multi-Manager Emerging Markets Equity Fund - Class I		2,359,251		3,097,683		(801,814	)		317,403			4,972,523		–		(75,125	)		–
Voya Multi-Manager International Equity Fund - Class I		3,539,063		1,363,610		(665,038	)		445,804			4,683,439		–		(3,924	)		–
Voya Multi-Manager International Factors Fund - Class I		2,944,733		2,081,633		(635,871	)		321,234			4,711,729		–		(40,655	)		–
Voya Multi-Manager Mid Cap Value Fund - Class I		2,957,423		263,534		(1,447,013	)		780,694			2,554,638		–		(268,832	)		–
Voya Small Company Portfolio - Class I		4,736,722		744,451		(3,002,800	)		648,698			3,127,071		12,292		(280,784	)		416,159
Voya Strategic Income Opportunities Fund - Class R6		–		5,387,889		(522,189	)		46,822			4,912,522		102,213		1,212			–
Voya U.S. Bond Index Portfolio - Class I		5,896,891		747,110		(2,115,854	)		330,954			4,859,101		94,190		(3,570	)		–
Voya U.S. High Dividend Low Volatility Fund - Class I		3,550,793		6,081,478		(9,938,031	)		305,760			–		74,653		1,376			–
Voya U.S. High Dividend Low Volatility Fund - Class R6		–		8,888,746		–			519,168			9,407,914		–		–			–
Voya U.S. Stock Index Portfolio - Class I		12,622,994		8,522,846		(3,956,210	)		1,390,192			18,579,822		50,755		79,208			1,022,361
	$	100,126,829	$	54,021,312	$	(54,261,262	)	$	6,146,750		$	106,033,629	$	1,206,350	$	4,213,127		$	2,373,926

The financial statements for the above mutual fund[s] can be found at www.sec.gov.

At September 30, 2019, the following futures contracts were outstanding for Voya Strategic Allocation Moderate Portfolio:

Description	Number of Contracts		Expiration Date	Notional Value			Unrealized Appreciation/ (Depreciation)
Long Contracts:
E-mini Russell 2000® Index		16	12/20/19	$	1,220,000		$	(35,954	)
S&P 500® E-Mini		5	12/20/19		744,625			(7,334	)
U.S. Treasury Ultra Long Bond		7	12/19/19		1,343,344			33,670
				$	3,307,969		$	(9,618	)
Short Contracts:
Mini MSCI Emerging Markets Index		(38)	12/20/19		(1,903,610	)		35,204
U.S. Treasury 10-Year Note		(10)	12/19/19		(1,303,125	)		(9,566	)
				$	(3,206,735	)	$	25,638

At September 30, 2019, 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 $117,442,868.

Net unrealized appreciation consisted of:

Gross Unrealized Appreciation	$	7,908,127
Gross Unrealized Depreciation		(1,976,032	)
Net Unrealized Appreciation	$	5,932,095