# EDGAR Filing Document

**Accession Number:** 0000895430
**File Stem:** 0001752724-23-067912
**Filing Date:** 2023-3
**Character Count:** 17784
**Document Hash:** 64458f3ee50e1c3b67c59c95b6653d1a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-067912.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-067912

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Voya MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0000895430
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07428
- **FILM NUMBER:** 23764097

**BUSINESS ADDRESS:**
- **STREET 1:** 7337 E DOUBLETREE RANCH ROAD, STE 100
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85258
- **BUSINESS PHONE:** 18009920180

**MAIL ADDRESS:**
- **STREET 1:** 7337 E DOUBLETREE RANCH ROAD, STE 100
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85258

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ING MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20020205

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PILGRIM MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19990526

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NICHOLAS APPLEGATE MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19930328

## Series and Classes Contracts Data

### Voya Russia Fund (Series ID: S000008523)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023392 | Class A      | LETRX           |
| C000081637 | Class I      | IIRFX           |
| C000105404 | Class W      | IWRFX           |

## Nport-Ex

<u>Voya Russia Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of January 31, 2023 (Unaudited)</u>

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | | **Value** | **Percentage<br>of Net<br>Assets** |
| **COMMON STOCK: –%** | **COMMON STOCK: –%** | **COMMON STOCK: –%** | **COMMON STOCK: –%** |
|  | **Communication Services: –%** | **Communication Services: –%** | **Communication Services: –%** |
| 620000<sup>(1)</sup> | Mobile Telesystems OJSC | $– |  |
| 73700<sup>(1),(2)</sup> | Yandex NV | – | – |
|  | **Consumer Discretionary: –%** | **Consumer Discretionary: –%** | **Consumer Discretionary: –%** |
| 18750<sup>(1),(2)</sup> | Five Below, Inc. | – | – |
|  | **Consumer Staples: –%** | **Consumer Staples: –%** | **Consumer Staples: –%** |
| 40000<sup>(1)</sup> | Magnit OJSC |  |  |
| 23200<sup>(1)</sup> | X5 Retail Group N.V. - FIVEL GDR | – | – |
|  |  | **–** | **–** |
|  | **Energy: –%** | **Energy: –%** | **Energy: –%** |
| 1967553<sup>(1)</sup> | Gazprom PJSC |  |  |
| 77800<sup>(1)</sup> | Lukoil PJSC |  |  |
| 270500<sup>(1)</sup> | Novatek PJSC |  |  |
| 1900000<sup>(1),(2)</sup> | Sovcomflot PJSC |  |  |
| 420000<sup>(1)</sup> | Tatneft PJSC | – | – |
|  |  | **–** | **–** |
|  | **Financials: –%** | **Financials: –%** | **Financials: –%** |
| 800000<sup>(1),(2)</sup> | Renaissance Insurance Group JSC |  |  |
| 1085000<sup>(1),(2),(3)</sup> | Sberbank of Russia PJSC |  |  |
| 2800000000<sup>(1),(2),(3)</sup> | VTB Bank PJSC | – | – |
|  |  | **–** | **–** |
|  | **Industrials: –%** | **Industrials: –%** | **Industrials: –%** |
| 2700000<sup>(1),(2)</sup> | Aeroflot PJSC | – | – |
|  | **Materials: –%** | **Materials: –%** | **Materials: –%** |
| 1655000<sup>(1),(2)</sup> | Alrosa PJSC |  |  |
| 11000<sup>(1)</sup> | MMC Norilsk Nickel OJSC |  |  |
| 36100<sup>(1)</sup> | PhosAgro PJSC |  |  |
| 3000000<sup>(1),(4)</sup> | Segezha Group PJSC | – | – |
|  |  | **–** | **–** |
|  | Total Common Stock |  |  |
|  | (Cost $41,790,891) | **–** | **–** |
| **PREFERRED STOCK: –%** | **PREFERRED STOCK: –%** | **PREFERRED STOCK: –%** | **PREFERRED STOCK: –%** |
|  | **Energy: –%** | **Energy: –%** | **Energy: –%** |
| 410000<sup>(1)</sup> | Tatneft |  |  |
| 800<sup>(1)</sup> | Transneft PJSC | – | – |
|  |  | **–** | **–** |
|  | **Financials: –%** | **Financials: –%** | **Financials: –%** |
| 310000<sup>(1),(2),(3)</sup> | Sberbank of Russia | – | – |
|  | Total Preferred Stock |  |  |
|  | (Cost $4,326,811) | **–** | **–** |
|  | Total Long-Term Investments |  |  |
|  | (Cost $46,117,702) | **–** | **–** |
| **SHORT-TERM INVESTMENTS: 102.3%** | **SHORT-TERM INVESTMENTS: 102.3%** | **SHORT-TERM INVESTMENTS: 102.3%** | **SHORT-TERM INVESTMENTS: 102.3%** |
|  | **Mutual Funds: 102.3%** | **Mutual Funds: 102.3%** | **Mutual Funds: 102.3%** |
| 847578<sup>(5)</sup> | BlackRock Liquidity Funds, FedFund, Institutional Class, 4.070% |  |  |
|  | (Cost $847,578) | **847578** | **102.3** |
|  | Total Short-Term Investments |  |  |
|  | (Cost $847,578) | **847578** | **102.3** |
|  | **Total Investments in Securities**<br> **(Cost $46,965,280)** | $**847578** | **102.3** |
|  | **Liabilities in Excess of Other Assets** | **(19088)** | &nbsp;&nbsp;&nbsp;&nbsp;**(2.3)** |
|  | **Net Assets** | $**828490** | &nbsp;&nbsp;&nbsp;&nbsp;**100.0** |

---

---

| | |
|:---|:---|
| GDR | Global 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) | Restricted security as to resale, excluding Rule 144A securities. As of January 31, 2023, the Fund held restricted securities with a fair value of $– or 0.0% of net assets. Please refer to the table below for additional details. |
| (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) | Rate shown is the 7-day yield as of January 31, 2023. |

---

<u>Voya Russia Fund</u> PORTFOLIO OF INVESTMENTS <br> <u>as of January 31, 2023 (Unaudited) (Continued)</u>

---

| |
|:---|
| **Fair Value Measurements** |
| The following is a summary of the fair valuations according to the inputs used as of January 31, 2023 in valuing the assets and liabilities: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quoted Prices<br> in Active Markets<br> for Identical<br> Investments<br> (Level 1)** | **Significant<br> Other<br> Observable<br> Inputs<br> (Level 2)** | **Significant<br> Unobservable<br> Inputs<br> (Level 3)** | **Fair Value<br> at<br> January 31, 2023** |
| **Asset Table** | | | | |
| **Investments, at fair value** | | | | |
| Common Stock |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Communication Services | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;Consumer Discretionary | – | – | – | – |
| &nbsp;&nbsp;&nbsp;Consumer Staples | – | – | – | – |
| &nbsp;&nbsp;&nbsp;Energy | – | – | – | – |
| &nbsp;&nbsp;&nbsp;Financials | – | – | – | – |
| &nbsp;&nbsp;&nbsp;Industrials | – | – | – | – |
| &nbsp;&nbsp;&nbsp;Materials | – | – | – | – |
| Total Common Stock | – | – | – | – |
| Preferred Stock |  |  |  |  |
| Short-Term Investments | 847578 | – | – | 847578 |
| Total Investments, at fair value | $847578 | $– | $– | $847578 |

---

At January 31, 2023, Voya Russia Fund held the following restricted securities:

---

| | | | |
|:---|:---|:---|:---|
| Security | Acquisition Date | Acquisition Cost | Fair Value |
| Sberbank of Russia | 3/4/2021 | $1073627 | $– |
| Sberbank of Russia PJSC | 8/9/2016 | 3060253 |  |
| VTB Bank PJSC | 5/5/2021 | 1952315 | – |
|  |  | $6086195 | $– |

---

At January 31, 2023, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments on a tax basis were:

---

| | |
|:---|:---|
| Cost for federal income tax purposes was $47,246,474. | Cost for federal income tax purposes was $47,246,474. |
| Net unrealized depreciation consisted of: | Net unrealized depreciation consisted of: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Unrealized Appreciation | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Unrealized Depreciation | (46398896) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Unrealized Depreciation | $(46398896) |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Voya Mutual Funds

- **b. Investment Company Act file number:** 811-07428

- **c. CIK number of Registrant:** 0000895430

- **d. LEI of Registrant:** 5493002558QOEAVY2M96

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 7337 East Doubletree Ranch Road

  - **City:** Scottsdale

  - **State:** AZ

  - **Foreign country:** US

  - **Zip / Postal Code:** 85258

  - **Telephone number:** 1-800-992-0180

**Item A.2. Information about the Series.**

- **a. Name of Series:** VOYA RUSSIA FUND

- **b. EDGAR series identifier (if any):** S000008523

- **c. LEI of Series:** 5493003X68N4YC32IE45

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $5233297.49

**Total Liabilities:** $4404807.96

**Net Assets:** $828489.53

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000081637 | 0.00%                | 0.00%                | -2.56%               |
| Class ID C000023392 | 0.00%                | 0.00%                | -2.70%               |
| Class ID C000105404 | 0.00%                | 0.00%                | -2.70%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $0.00                                      |

### Schedule of Portfolio Investments

| Name                           | Title                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |    Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sberbank of Russia PJSC        | Sberbank of Russia PJSC         | CUSIP: 000000000<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |    1085000 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| X5 RETAIL GROUP NV             | X 5 RETAIL GROUP NV-REGS GDR    | CUSIP: 98387E205<br>LEI: 213800J17UJJJDGUVF56 | Long             | EC               | CORP              | RU        |      23200 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Transneft PJSC                 | Transneft PJSC                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | RU        |        800 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Alrosa PJSC                    | Alrosa PJSC                     | CUSIP: 000000000<br>LEI: 894500DKUWVBYZLLE651 | Long             | EC               | CORP              | RU        |    1655000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MMC Norilsk Nickel PJSC        | MMC Norilsk Nickel PJSC         | CUSIP: 000000000<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |      11000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Segezha Group PJSC             | Segezha Group PJSC              | CUSIP: 000000000<br>LEI: 253400AUENB54PN7LX36 | Long             | EC               | CORP              | RU        |    3000000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sberbank of Russia PJSC        | Sberbank of Russia PJSC         | CUSIP: 000000000<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EP               | CORP              | RU        |     310000 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Novatek PJSC                   | Novatek PJSC                    | CUSIP: 000000000<br>LEI: 2138008R6GCRVBDFA581 | Long             | EC               | CORP              | RU        |     124500 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Mobile TeleSystems PJSC        | Mobile TeleSystems PJSC         | CUSIP: 000000000<br>LEI: 2534008FX8EXH1FMJA74 | Long             | EC               | CORP              | RU        |     620000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sovcomflot PJSC                | Sovcomflot PJSC                 | CUSIP: 000000000<br>LEI: 253400DYLWR5A6YAWJ69 | Long             | EC               | CORP              | RU        |    1900000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| LUKOIL PJSC                    | LUKOIL PJSC                     | CUSIP: 000000000<br>LEI: 549300LCJ1UJXHYBWI24 | Long             | EC               | CORP              | RU        |      77800 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| PhosAgro PJSC                  | PhosAgro PJSC                   | CUSIP: 000000000<br>LEI: 25340053KRUNNYUWF472 | Long             | EC               | CORP              | RU        |      36100 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Tatneft PJSC                   | Tatneft PJSC                    | CUSIP: 000000000<br>LEI: 253400PAT768SVJMV121 | Long             | EP               | CORP              | RU        |     410000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Magnit PJSC                    | Magnit PJSC                     | CUSIP: 000000000<br>LEI: 2534009KKPTVL99W2Y12 | Long             | EC               | CORP              | RU        |      40000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Aeroflot PJSC                  | Aeroflot PJSC                   | CUSIP: 000000000<br>LEI: 253400MSLG0NS4C3NB96 | Long             | EC               | CORP              | RU        |    2700000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Novatek PJSC                   | Novatek PJSC                    | CUSIP: 000000000<br>LEI: 2138008R6GCRVBDFA581 | Long             | EC               | CORP              | RU        |     146000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GAZPROM PJSC                   | GAZPROM PJSC                    | CUSIP: 000000000<br>LEI: 213800FD9J2IHTA7YX78 | Long             | EC               | CORP              | RU        |    1967553 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Yandex NV                      | Yandex NV                       | CUSIP: 000000000<br>LEI: 549300GGZHJ5Q1B18P93 | Long             | EC               | CORP              | RU        |      73700 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BlackRock Liquidity FedFund    | BlackRock Liquidity FedFund     | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |     847578 | NS      | $847578.09    | 102.30%           |  |  |  | No            |                  1 | On Loan: No      |
| VTB Bank PJSC                  | VTB Bank PJSC                   | CUSIP: 000000000<br>LEI: 253400V1H6ART1UQ0N98 | Long             | EC               | CORP              | RU        | 2800000000 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Renaissance Insurance Group JS | Renaissance Insurance Group JSC | CUSIP: 000000000<br>LEI: 2534004ERNZEU8P2HW17 | Long             | EC               | CORP              | RU        |     800000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Tatneft PJSC                   | Tatneft PJSC                    | CUSIP: 000000000<br>LEI: 253400PAT768SVJMV121 | Long             | EC               | CORP              | RU        |     420000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| X5 Retail Group NV             | X5 Retail Group NV              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      18750 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-17

**Name of Applicant:** Voya Mutual Funds

**Signature:** Tin Bui

**Name of Signer:** Tin Bui

**Title:** Vice President