PORTFOLIO
OF
INVESTMENTS
as
of
February
28,
2026
(Unaudited)
1
Voya
MI
Dynamic
SMID
Cap
Fund
Shares
RA
Value
Percentage
of
Net
Assets
COMMON
STOCK
:
98.4%
Communication
Services
:
3.1%
7,083 
(1)(2)
AST
SpaceMobile,
Inc.
$
560,903
0.4
22,160 
(1)
CarGurus,
Inc.
680,312
0.5
73,800 
(1)
Lumen
Technologies,
Inc.
524,718
0.4
25,537 
(1)
Magnite,
Inc.
347,814
0.3
16,477 
New
York
Times
Co.
- Class
A
1,314,700
1.0
45,371 
(1)
PubMatic,
Inc.
- Class
A
367,505
0.3
135,547 
(1)(2)
ZipRecruiter,
Inc.
- Class
A
245,340
0.2
4,041,292
3.1
Consumer
Discretionary
:
6.2%
48,578 
Camping
World
Holdings,
Inc.
- Class
A
404,169
0.3
15,054 
(1)
Etsy,
Inc.
826,164
0.6
34,853 
Gap,
Inc.
977,278
0.8
40,433 
Gentex
Corp.
946,132
0.7
15,501 
H&R
Block,
Inc.
474,641
0.4
49,378 
Macy's,
Inc.
976,697
0.7
48,438 
(1)
Mattel,
Inc.
821,024
0.6
50,821 
(1)
Sonos,
Inc.
782,643
0.6
65,665 
Super
Group
SGHC
Ltd.
702,615
0.5
17,985 
Travel
+
Leisure
Co.
1,325,495
1.0
8,236,858
6.2
Consumer
Staples
:
0.9%
5,761 
Coca-Cola
Consolidated,
Inc.
1,166,026
0.9
Energy
:
2.2%
93,249 
NOV,
Inc.
1,889,225
1.4
170,782 
RPC,
Inc.
992,243
0.8
2,881,468
2.2
Financials
:
16.5%
10,542 
Axis
Capital
Holdings
Ltd.
1,114,500
0.8
51,843 
Banc
of
California,
Inc.
957,540
0.7
109,199 
BGC
Group,
Inc.
- Class
A
1,039,574
0.8
107,890 
F.N.B.
Corp.
1,833,051
1.4
14,109 
First
American
Financial
Corp.
989,182
0.8
13,952 
First
Hawaiian,
Inc.
345,452
0.3
62,421 
First
Horizon
Corp.
1,484,996
1.1
6,927 
Globe
Life,
Inc.
1,006,216
0.8
13,877 
Hancock
Whitney
Corp.
913,245
0.7
5,376 
Hanover
Insurance
Group,
Inc.
971,067
0.7
24,300 
Jefferies
Financial
Group,
Inc.
1,078,920
0.8
8,381 
Kemper
Corp.
270,874
0.2
27,473 
MGIC
Investment
Corp.
728,859
0.6
42,664 
Old
Republic
International
Corp.
1,829,006
1.4
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Financials:
(continued)
53,305 
P10,
Inc.
- Class
A
$
430,171
0.3
94,118 
(1)
Payoneer
Global,
Inc.
406,590
0.3
7,435 
Popular,
Inc.
1,006,402
0.8
43,510 
Rithm
Capital
Corp.
437,275
0.3
30,725 
(1)
Slide
Insurance
Holdings,
Inc.
583,775
0.4
52,383 
Starwood
Property
Trust,
Inc.
932,941
0.7
75,500 
Valley
National
Bancorp
952,055
0.7
55,363 
(2)
WisdomTree,
Inc.
947,261
0.7
30,001 
XP,
Inc.
- Class
A
645,922
0.5
15,634 
Zions
Bancorp
NA
895,515
0.7
21,800,389
16.5
Health
Care
:
12.1%
32,932 
(1)
10X
Genomics,
Inc.
- Class
A
759,083
0.6
27,461 
(1)
Alignment
Healthcare,
Inc.
527,800
0.4
49,942 
(1)
Aveanna
Healthcare
Holdings,
Inc.
367,573
0.3
26,045 
Bio-Techne
Corp.
1,536,655
1.2
15,361 
(1)
Bridgebio
Pharma,
Inc.
1,021,199
0.8
121,363 
(1)
Cytek
Biosciences,
Inc.
543,706
0.4
11,055 
(1)
Doximity,
Inc.
- Class
A
271,179
0.2
32,308 
Embecta
Corp.
331,480
0.2
10,812 
(1)
HealthEquity,
Inc.
827,010
0.6
20,224 
(1)(2)
Hims
&
Hers
Health,
Inc.
293,653
0.2
12,060 
(1)
Insmed,
Inc.
1,800,920
1.4
14,005 
(1)
LivaNova
PLC
988,753
0.7
23,773 
(1)
Option
Care
Health,
Inc.
771,672
0.6
100,766 
(1)
Organogenesis
Holdings,
Inc.
323,459
0.2
18,446 
QIAGEN
N.V.
918,611
0.7
79,519 
(1)(2)
Sana
Biotechnology,
Inc.
334,775
0.3
22,561 
(1)
Tandem
Diabetes
Care,
Inc.
570,793
0.4
79,790 
(1)(2)
Teladoc
Health,
Inc.
419,695
0.3
7,157 
(1)
Tenet
Healthcare
Corp.
1,713,314
1.3
17,505 
(1)
Travere
Therapeutics,
Inc.
521,474
0.4
29,114 
(1)
Waystar
Holding
Corp.
746,774
0.6
67,530 
(1)
Xeris
Biopharma
Holdings,
Inc.
413,284
0.3
16,002,862
12.1
Industrials
:
24.2%
11,789 
A.O.
Smith
Corp.
919,542
0.7
3,745 
Acuity
Brands,
Inc.
1,129,455
0.8
13,044 
Albany
International
Corp.
- Class
A
751,987
0.6
6,356 
Allegion
PLC
1,024,269
0.8
7,782 
Allison
Transmission
Holdings,
Inc.
975,085
0.7
7,399 
Applied
Industrial
Technologies,
Inc.
2,090,809
1.6
PORTFOLIO
OF
INVESTMENTS
as
of
February
28,
2026
(Unaudited)
(continued)
2
Voya
MI
Dynamic
SMID
Cap
Fund
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Industrials:
(continued)
6,729 
(1)
Bloom
Energy
Corp.
- Class
A
$
1,047,503
0.8
24,398 
(1)
Core
&
Main,
Inc.
- Class
A
1,321,396
1.0
18,423 
Enerpac
Tool
Group
Corp.
751,658
0.6
23,671 
Flowserve
Corp.
2,095,357
1.6
37,178 
(1)
Gates
Industrial
Corp.
PLC
1,024,997
0.8
11,043 
Graco,
Inc.
1,037,159
0.8
18,230 
(2)
Hexcel
Corp.
1,689,739
1.3
9,697 
ITT,
Inc.
1,962,770
1.5
63,642 
(1)
Legalzoom.com,
Inc.
447,403
0.3
35,726 
(1)
Lyft,
Inc.
- Class
A
494,448
0.4
36,843 
Mueller
Water
Products,
Inc.
- Class
A
1,102,711
0.8
3,447 
Nordson
Corp.
1,011,488
0.8
40,548 
(1)
NOW,
Inc.
477,655
0.4
5,911 
Owens
Corning
721,556
0.5
4,207 
(1)
Paylocity
Holding
Corp.
448,003
0.3
10,521 
Pentair
PLC
1,043,578
0.8
13,090 
Robert
Half
International,
Inc.
319,658
0.2
17,377 
(1)
Rocket
Lab
Corp.
1,200,751
0.9
63,302 
(1)
Titan
International,
Inc.
615,928
0.5
9,727 
Toro
Co.
961,611
0.7
68,666 
Vestis
Corp.
540,401
0.4
3,666 
(2)
Watsco,
Inc.
1,529,932
1.1
6,393 
Watts
Water
Technologies,
Inc.
- Class
A
2,101,635
1.6
24,466 
Zurn
Elkay
Water
Solutions
Corp.
1,247,277
0.9
32,085,761
24.2
Information
Technology
:
14.5%
17,904 
(1)
ACI
Worldwide,
Inc.
710,431
0.5
56,388 
(1)
Amplitude,
Inc.
- Class
A
411,632
0.3
10,567 
(1)
ASGN,
Inc.
453,324
0.3
5,502 
(1)
Astera
Labs,
Inc.
653,803
0.5
57,727 
(1)
AvePoint,
Inc.
622,297
0.5
14,737 
Bentley
Systems,
Inc.
- Class
B
538,637
0.4
25,093 
(1)
Box,
Inc.
- Class
A
590,940
0.4
22,428 
(1)
Cipher
Mining,
Inc.
349,877
0.3
8,049 
(1)
Coherent
Corp.
2,084,128
1.6
19,885 
(1)
Core
Scientific,
Inc.
337,448
0.3
7,566 
(1)
Credo
Technology
Group
Holding
Ltd.
849,435
0.6
5,065 
Dolby
Laboratories,
Inc.
- Class
A
337,177
0.3
21,191 
(1)
Dropbox,
Inc.
- Class
A
529,563
0.4
17,364 
(1)
Dynatrace,
Inc.
623,715
0.5
41,885 
(1)
Extreme
Networks,
Inc.
585,552
0.4
16,017 
(1)(2)
IonQ,
Inc.
614,572
0.5
49,350 
(1)
Knowles
Corp.
1,340,840
1.0
14,955 
(1)
Nutanix,
Inc.
- Class
A
572,477
0.4
Shares
Value
Percentage
of
Net
Assets
COMMON
STOCK:
(continued)
Information
Technology:
(continued)
17,542 
(1)
Pure
Storage,
Inc.
- Class
A
$
1,126,547
0.8
20,323 
(1)
Rigetti
Computing,
Inc.
354,027
0.3
12,248 
(1)
Rubrik,
Inc.
- Class
A
636,406
0.5
2,720 
(1)
Sandisk
Corp.
1,728,179
1.3
7,227 
TD
SYNNEX
Corp.
1,133,266
0.9
14,424 
(1)
TTM
Technologies,
Inc.
1,503,558
1.1
84,592 
(1)
Yext,
Inc.
480,483
0.4
19,168,314
14.5
Materials
:
6.9%
8,343 
AptarGroup,
Inc.
1,198,972
0.9
90,757 
(1)
Cleveland-Cliffs,
Inc.
967,470
0.7
9,584 
Crown
Holdings,
Inc.
1,098,326
0.8
42,219 
Element
Solutions,
Inc.
1,481,465
1.1
65,846 
Hecla
Mining
Co.
1,640,224
1.3
95,654 
Huntsman
Corp.
1,210,023
0.9
13,793 
RPM
International,
Inc.
1,574,057
1.2
9,170,537
6.9
Real
Estate
:
7.1%
127,704 
Apartment
Investment
and
Management
Co.
- Class
A
563,175
0.4
44,021 
Brixmor
Property
Group,
Inc.
1,332,516
1.0
39,055 
CareTrust
REIT,
Inc.
1,586,414
1.2
16,708 
EPR
Properties
992,622
0.7
17,149 
First
Industrial
Realty
Trust,
Inc.
1,082,788
0.8
66,232 
Host
Hotels
&
Resorts,
Inc.
1,297,485
1.0
37,679 
(1)
Hudson
Pacific
Properties,
Inc.
272,796
0.2
17,893 
Omega
Healthcare
Investors,
Inc.
863,695
0.7
96,079 
(1)(2)
Real
Brokerage,
Inc.
254,609
0.2
31,860 
Tanger
Factory
Outlet
Centers,
Inc.
1,180,732
0.9
9,426,832
7.1
Utilities
:
4.7%
5,656 
Black
Hills
Corp.
416,621
0.3
44,331 
MDU
Resources
Group,
Inc.
916,765
0.7
9,712 
National
Fuel
Gas
Co.
884,083
0.7
47,885 
NiSource,
Inc.
2,264,961
1.7
9,621 
OGE
Energy
Corp.
472,776
0.3
7,733 
(1)(2)
Oklo,
Inc.
486,792
0.4
8,780 
ONE
Gas,
Inc.
767,723
0.6
6,209,721
4.7
Total
Common
Stock
(Cost
$116,100,001)
130,190,060
98.4
PORTFOLIO
OF
INVESTMENTS
as
of
February
28,
2026
(Unaudited)
(continued)
3
Voya
MI
Dynamic
SMID
Cap
Fund
Shares
Value
Percentage
of
Net
Assets
EXCHANGE-TRADED
FUNDS
:
1.4%
22,770 
iShares
Russell
2500
ETF
$
1,836,856
1.4
Total
Exchange-Traded
Funds
(Cost
$1,709,443)
1,836,856
1.4
Total
Long-Term
Investments
(Cost
$117,809,444)
132,026,916
99.8
Principal
Amount
†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS
:
5.5%
Repurchase
Agreements
:
4.5%
1,585,206 
(3)
Bank
of
Montreal,
Repurchase
Agreement
dated
02/27/2026,
3.660%,
due
03/02/2026
(Repurchase
Amount
$1,585,683,
collateralized
by
various
U.S.
Government
Agency
Obligations,
3.500%-
5.000%,
Market
Value
plus
accrued
interest
$1,616,910,
due
10/01/52-10/01/54)
1,585,206
1.2
1,210,588 
(3)
HSBC
Securities
(USA),
Inc.,
Repurchase
Agreement
dated
02/27/2026,
3.670%,
due
03/02/2026
(Repurchase
Amount
$1,210,953,
collateralized
by
various
U.S.
Government/U.S.
Government
Agency
Obligations,
1.125%-
7.000%,
Market
Value
plus
accrued
interest
$1,234,800,
due
12/01/29-02/01/56)
1,210,588
0.9
Principal
Amount†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS:
(continued)
Repurchase
Agreements
(continued)
424,361 
(3)
HSBC
Securities
(USA),
Inc.,
Repurchase
Agreement
dated
02/27/2026,
3.660%,
due
03/02/2026
(Repurchase
Amount
$424,489,
collateralized
by
various
U.S.
Government
Securities,
0.000%-
4.375%,
Market
Value
plus
accrued
interest
$432,848,
due
07/15/26-11/15/50)
$
424,361
0.3
1,585,206 
(3)
Nomura
Securities
International,
Inc.,
Repurchase
Agreement
dated
02/27/2026,
3.660%,
due
03/02/2026
(Repurchase
Amount
$1,585,683,
collateralized
by
various
U.S.
Government
Agency
Obligations,
5.000%-
6.000%,
Market
Value
plus
accrued
interest
$1,616,927,
due
01/20/53-12/01/55)
1,585,206
1.2
1,130,768 
(3)
State
of
Wisconsin
Investment
Board,
Repurchase
Agreement
dated
02/27/2026,
3.770%,
due
03/02/2026
(Repurchase
Amount
$1,131,118,
collateralized
by
various
U.S.
Government
Securities,
0.125%-
3.875%,
Market
Value
plus
accrued
interest
$1,149,562,
due
04/15/28-02/15/55)
1,130,768
0.9
Total
Repurchase
Agreements
(Cost
$5,936,129)
5,936,129
4.5
Time
Deposits
:
0.9%
160,000 
(3)
Canadian
Imperial
Bank
of
Commerce,
3.630
%,
03/02/2026
160,000
0.1
160,000 
(3)
DNB
Bank
ASA,
3.620
%,
03/02/2026
160,000
0.1
PORTFOLIO
OF
INVESTMENTS
as
of
February
28,
2026
(Unaudited)
(continued)
4
Voya
MI
Dynamic
SMID
Cap
Fund
Principal
Amount†
RA
Value
Percentage
of
Net
Assets
SHORT-TERM
INVESTMENTS:
(continued)
Time
Deposits
(continued)
160,000 
(3)
Landesbank
Baden-
Wurttemberg,
3.640
%,
03/02/2026
$
160,000
0.1
160,000 
(3)
Mizuho
Bank
Ltd.,
3.640
%,
03/02/2026
160,000
0.2
160,000 
(3)
Royal
Bank
of
Canada,
3.700
%,
03/02/2026
160,000
0.2
160,000 
(3)
Societe
Generale
S.A.,
3.630
%,
03/02/2026
160,000
0.1
160,000 
(3)
Toronto-Dominion
Bank,
3.640
%,
03/02/2026
160,000
0.1
Total
Time
Deposits
(Cost
$1,120,000)
1,120,000
0.9
Shares
RA
Value
Percentage
of
Net
Assets
Mutual
Funds
:
0.1%
172,000 
(4)
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio
(Institutional
Share
Class),
3.590%
(Cost
$172,000)
$
172,000
0.1
Total
Short-Term
Investments
(Cost
$7,228,129)
7,228,129
5.5
Total
Investments
in
Securities
(Cost
$125,037,573)
$
139,255,045
105.3
Liabilities
in
Excess
of
Other
Assets
(6,950,566)
(5.3)
Net
Assets
$
132,304,479
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)
All
or
a
portion
of
the
security
represents
securities
purchased
with
cash
collateral
received
for
securities
on
loan.
(4)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2026.
PORTFOLIO
OF
INVESTMENTS
as
of
February
28,
2026
(Unaudited)
(continued)
5
Voya
MI
Dynamic
SMID
Cap
Fund
Fair
Value
Measurements
The
following
is
a
summary
of
the
fair
valuations
according
to
the
inputs
used
as
of
February
28,
2026
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
February
28,
2026
Asset
Table
Investments,
at
fair
value
Common
Stock*
$
130,190,060
$
—
$
—
$
130,190,060
Exchange-Traded
Funds
1,836,856
—
—
1,836,856
Short-Term
Investments
172,000
7,056,129
—
7,228,129
Total
Investments,
at
fair
value
$
132,198,916
$
7,056,129
$
—
$
139,255,045
*
For
further
breakdown
of
Common
Stock
by
sector,
please
refer
to
the
Portfolio
of
Investments.
Net
unrealized
appreciation
consisted
of:
Gross
Unrealized
Appreciation
$
23,848,610
Gross
Unrealized
Depreciation
(9,631,138)
Net
Unrealized
Appreciation
$
14,217,472