UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number: 811-21553

 

Voya Global Equity Dividend and Premium Opportunity Fund

(Exact name of registrant as specified in charter)

 

7337 East Doubletree Ranch Rd., Suite 100, Scottsdale, AZ 85258

(Address of principal executive offices) (Zip code)

 

Huey P. Falgout, Jr., 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ 85258

(Name and address of agent for service)

 

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

 

Date of fiscal year end: February 28

 

Date of reporting period: May 31, 2016

 

 

 

 

 

  

Item 1. Schedule of Investments

 

The schedules of investments as of the close of the reporting period are set forth below for:

 

Voya Global Equity Dividend and Premium Opportunity Fund

 

The schedules are not audited.

 

 

 

 

Voya Global Equity Dividend and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2016 (Unaudited)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: 95.6%         
      Belgium: 0.4%          
70,800     Ageas  $2,860,136    0.4 
                 
      Canada: 3.7%          
80,747     Canadian Imperial Bank of Commerce   6,265,305    0.8 
595,421     Cenovus Energy, Inc.   8,976,607    1.2 
483,814     Shaw Communications, Inc. - Class B   9,253,102    1.2 
91,781     TransCanada Corp.   3,803,240    0.5 
          28,298,254    3.7 
                 
      France: 10.2%          
298,993     BNP Paribas   16,569,181    2.2 
163,294     Casino Guichard Perrachon S.A.   9,716,705    1.3 
203,031     Cie de Saint-Gobain   9,071,326    1.2 
207,794     Eutelsat Communications   4,145,060    0.5 
554,290     Engie SA   8,544,886    1.1 
112,197     Sanofi   9,221,682    1.2 
245,300     Total S.A.   11,896,835    1.5 
125,725     Vinci S.A.   9,468,332    1.2 
          78,634,007    10.2 
                 
      Germany: 1.7%          
534,445  @  Deutsche Bank AG   9,554,989    1.3 
63,500  @  Wincor Nixdorf AG   3,392,046    0.4 
          12,947,035    1.7 
                 
      Italy: 3.7%          
831,861     Assicurazioni Generali S.p.A.   12,057,150    1.6 
532,987     ENI S.p.A.   8,128,539    1.0 
2,589,900     UniCredit SpA   8,296,541    1.1 
          28,482,230    3.7 
                 
      Japan: 8.5%          
129,100     Canon, Inc.   3,726,468    0.5 
401,400     Hitachi Chemical Co., Ltd.   7,453,233    1.0 
512,900     Itochu Corp.   6,388,392    0.8 
432,300     Japan Post Bank Co. Ltd.   5,143,915    0.7 
2,633,000     Mitsubishi UFJ Financial Group, Inc.   13,008,395    1.7 
526,100     Mitsui & Co., Ltd.   6,301,860    0.8 
968,800     Nissan Motor Co., Ltd.   9,730,330    1.3 
405,000     Sumitomo Mitsui Financial Group, Inc.   13,085,321    1.7 
          64,837,914    8.5 
                 
      Netherlands: 2.6%          
1,167,732  @  ArcelorMittal   5,723,336    0.7 
597,367     Royal Dutch Shell PLC   14,517,419    1.9 
          20,240,755    2.6 
                 
      Singapore: 1.2%          
2,360,100     Singapore Telecommunications Ltd.   6,637,127    0.8 
Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)         
      Singapore: (continued) 
219,200     United Overseas Bank Ltd.  $2,902,598    0.4 
          9,539,725    1.2 
                 
      Spain: 1.1%          
821,443  @  Telefonica S.A.   8,580,138    1.1 
                 
      Sweden: 1.7%          
135,000     Electrolux AB   3,626,431    0.5 
828,301     Volvo AB - B Shares   9,225,394    1.2 
          12,851,825    1.7 
                 
      Switzerland: 5.5%          
638,466     Credit Suisse Group AG   8,791,365    1.1 
121,687     Novartis AG   9,670,768    1.3 
34,681     Roche Holding AG   9,109,175    1.2 
458,212     STMicroelectronics NV   2,754,574    0.4 
14,300     Syngenta AG   5,623,095    0.7 
24,811     Zurich Insurance Group AG   6,004,806    0.8 
          41,953,783    5.5 
                 
      Taiwan: 1.5%          
402,100     MediaTek, Inc.   2,709,749    0.4 
355,467     Taiwan Semiconductor Manufacturing Co., Ltd. - SP ADR   8,787,144    1.1 
          11,496,893    1.5 
                 
      United Kingdom: 10.4% 
3,552,213     Barclays PLC   9,348,591    1.2 
1,454,592     HSBC Holdings PLC   9,401,718    1.2 
150,613     Imperial Brands PLC   8,191,037    1.1 
1,500,837     J Sainsbury PLC   5,834,987    0.8 
1,822,100     Kingfisher PLC   9,671,616    1.3 
345,460     Rexam PLC   3,142,703    0.4 
302,323     Rio Tinto PLC   8,425,065    1.1 
987,600     RSA Insurance Group PLC   6,991,281    0.9 
287,150     SSE PLC   6,363,419    0.8 
3,619,354     Vodafone Group PLC   12,087,664    1.6 
          79,458,081    10.4 
                 
      United States: 43.4% 
152,711     AbbVie, Inc.   9,610,103    1.3 
90,900     American Electric Power Co., Inc.   5,883,957    0.8 
61,206     Amgen, Inc.   9,667,488    1.3 
131,551     Apple, Inc.   13,136,683    1.7 
144,550     Baxter International, Inc.   6,238,778    0.8 
46,038     Bristol-Myers Squibb Co.   3,300,924    0.4 
85,680     Caterpillar, Inc.   6,212,657    0.8 
189,479     CenturyLink, Inc.   5,138,670    0.7 
95,066     Chevron Corp.   9,601,666    1.3 
460,339     Cisco Systems, Inc.   13,372,848    1.7 
330,700     Citigroup, Inc.   15,400,699    2.0 
198,600     ConAgra Foods, Inc.   9,076,020    1.2 
120,244     Eli Lilly & Co.   9,021,907    1.2 
362,600     EMC Corp.   10,134,670    1.3 
103,595     Eversource Energy   5,722,588    0.7 
109,048     Exxon Mobil Corp.   9,707,453    1.3 
441,973     Freeport-McMoRan, Inc.   4,897,061    0.6 

 

 

 

  

Voya Global Equity Dividend and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2016 (Unaudited) (Continued)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)         
      United States: (continued) 
405,550    Gap, Inc.  $7,295,844    0.9 
413,431     General Electric Co.   12,498,019    1.6 
36,200     Gilead Sciences, Inc.   3,151,572    0.4 
21,700     International Business Machines Corp.   3,336,158    0.4 
91,664     Intel Corp.   2,895,666    0.4 
82,091     Johnson & Johnson   9,250,835    1.2 
97,874     JPMorgan Chase & Co.   6,388,236    0.8 
132,900     Las Vegas Sands Corp.   6,145,296    0.8 
155,857     Macy's, Inc.   5,176,011    0.7 
269,700     Mattel, Inc.   8,598,036    1.1 
70,500     McDonald's Corp.   8,605,230    1.1 
284,447     Metlife, Inc.   12,956,561    1.7 
232,476     Microsoft Corp.   12,321,228    1.6 
215,000     Mosaic Co.   5,424,450    0.7 
466,387     Pfizer, Inc.   16,183,629    2.1 
101,704     PNC Financial Services Group, Inc.   9,126,917    1.2 
109,582     Procter & Gamble Co.   8,880,525    1.2 
89,200     Schlumberger Ltd.   6,805,960    0.9 
283,139     Seagate Technology   6,387,616    0.8 
60,000     Stanley Black & Decker, Inc.   6,790,800    0.9 
553,150     Symantec Corp.   9,602,684    1.3 
110,683     Verizon Communications, Inc.   5,633,765    0.7 
131,100     Wal-Mart Stores, Inc.   9,279,258    1.2 
9,476     Western Digital Corp.   441,013    0.1 
90,200     WestRock Co.   3,572,822    0.5 
          332,872,303    43.4 
                 
   Total Common Stock          
   (Cost $819,505,685)   733,053,079    95.6 

 

# of Contracts        Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: 0.1%         
      Options on Currencies: 0.1% 
15,000,000  @  Cal USD vs. Put EUR, Strike @ 1.084, Exp. 06/17/16 Counterparty: Barclays Bank PLC   12,385    0.0 
11,000,000  @  Call USD vs. Put EUR, Strike @ 1.076, Exp. 08/19/16 Counterparty: BNP Paribas Bank   59,235    0.0 
15,000,000  @  Call USD vs. Put EUR, Strike @ 1.085, Exp. 07/20/16 Counterparty: Morgan Stanley   86,072    0.0 
26,000,000  @  Call USD vs. Put GBP, Strike @ 1.378, Exp. 06/17/16 Counterparty: BNP Paribas Bank   19,659    0.0 
26,000,000  @  Call USD vs. Put GBP, Strike @ 1.357, Exp. 08/19/16 Counterparty: BNP Paribas Bank   235,546    0.1 
14,000,000  @  Call USD vs. Put GBP, Strike @ 1.337, Exp. 07/20/16 Counterparty: Barclays Bank PLC   79,139    0.0 
# of Contracts     Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: (continued) 
15,000,000  @  Call USD vs. Put JPY, Strike @ 116.000, Exp. 06/17/16 Counterparty: BNP Paribas Bank  $3,673    0.0 
15,000,000  @  Call USD vs. Put JPY, Strike @ 115.180, Exp. 08/19/16 Counterparty: Barclays Bank PLC   79,696    0.0 
11,000,000  @  Call USD vs. Put JPY, Strike @ 113.850, Exp. 07/20/16 Counterparty: Barclays Bank PLC   60,846    0.0 
          636,251    0.1 
                 
   Total Purchased Options          
   (Cost $1,149,200)   636,251    0.1 
                 
   Total Investments in Securities
(Cost $820,654,885)		  $733,689,330    95.7 
   Assets in Excess of Other Liabilities   33,172,859    4.3 
   Net Assets  $766,862,189    100.0 

 

@ Non-income producing security.
 ADR American Depositary Receipt

 

 

  Cost for federal income tax purposes is $820,811,297.
   
  Net unrealized depreciation consists of:

 

Gross Unrealized Appreciation  $59,077,567 
Gross Unrealized Depreciation   (146,199,534)
      
Net Unrealized Depreciation  $(87,121,967)

 

Sector Diversification  Percentage
of Net Assets		 
Financials   22.8%
Health Care   12.4 
Information Technology   12.1 
Energy   9.6 
Consumer Discretionary   9.4 
Industrials   8.5 
Consumer Staples   6.8 
Materials   5.7 
Telecommunication Services   4.9 
Utilities   3.4 
Purchased Options   0.1 
Assets in Excess of Other Liabilities   4.3 
Net Assets   100.0%

 

 

 

  

Voya Global Equity Dividend and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2016 (Unaudited) (Continued)

 

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of May 31, 2016 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
May 31, 2016		 
Asset Table                    
Investments, at fair value                    
Common Stock                    
Belgium  $–   $2,860,136   $–   $2,860,136 
Canada   28,298,254    –    –    28,298,254 
France   –    78,634,007    –    78,634,007 
Germany   3,392,046    9,554,989    –    12,947,035 
Italy   –    28,482,230    –    28,482,230 
Japan   –    64,837,914    –    64,837,914 
Netherlands   –    20,240,755    –    20,240,755 
Singapore   –    9,539,725    –    9,539,725 
Spain   –    8,580,138    –    8,580,138 
Sweden   –    12,851,825    –    12,851,825 
Switzerland   –    41,953,783    –    41,953,783 
Taiwan   8,787,144    2,709,749    –    11,496,893 
United Kingdom   –    79,458,081    –    79,458,081 
United States   332,872,303    –    –    332,872,303 
Total Common Stock   373,349,747    359,703,332    –    733,053,079 
Purchased Options   –    636,251    –    636,251 
Total Investments, at fair value  $373,349,747   $360,339,583   $–   $733,689,330 
Other Financial Instruments+                    
Futures   297,020    –    –    297,020 
Total Assets  $373,646,767   $360,339,583   $–   $733,986,350 
Liabilities Table                    
Other Financial Instruments+                    
Futures  $(230,595)  $–   $–   $(230,595)
Written Options   –    (6,753,428)   –    (6,753,428)
Total Liabilities  $(230,595)  $(6,753,428)  $–   $(6,984,023)

 

+ Other Financial Instruments are derivatives not reflected in the portfolio of investments and 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 Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a portion of the Fund's investments are categorized as Level 2 investments.

 

At May 31, 2016, the following futures contracts were outstanding for Voya Global Equity Dividend and Premium Opportunity Fund:

 

Contract Description  Number
of Contracts		  Expiration
Date		  Notional
Value		   Unrealized
Appreciation/
(Depreciation)		 
Long Contracts                
EURO STOXX 50® Index  192  06/17/16  $6,522,053   $45,678 
Nikkei 225 Index  130  06/09/16   10,102,045    225,027 
S&P 500 E-Mini  12  06/17/16   1,256,940    26,315 
         $17,881,038   $297,020 
Short Contracts                
FTSE 100 Index  (95)  06/17/16   (8,557,623)   (230,595)
         $(8,557,623)  $(230,595)

  

At May 31, 2016, the following over-the-counter written options were outstanding for Voya Global Equity Dividend and Premium Opportunity Fund:

 

Number of
Contracts/Notional
Amount		   Counterparty  Description  Exercise
Price		  Expiration
Date		  Premiums
Received		   Fair Value 
Options on Indices                           
 4,300   BNP Paribas Bank  Call on EURO STOXX 50® Index   2,968.746    EUR  06/17/16  $302,896   $(530,521)
 4,400   BNP Paribas Bank  Call on EURO STOXX 50® Index   3,042.623    EUR  06/03/16   277,265    (165,460)

 

 

 

  

Voya Global Equity Dividend and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2016 (Unaudited) (Continued)

 

Number of
Contracts/Notional
Amount		   Counterparty  Description  Exercise
Price		  Expiration
Date		  Premiums
Received		   Fair Value 
 4,100   Morgan Stanley  Call on EURO STOXX 50® Index   2,983.060   EUR  07/01/16  $294,703   $(547,439)
 2,500   Barclays Bank PLC  Call on FTSE 100 Index   6,231.340   GBP  07/01/16   381,392    (419,683)
 2,400   Barclays Bank PLC  Call on FTSE 100 Index   6,393.190   GBP  06/03/16   277,245    (860)
 2,400   BNP Paribas Bank  Call on FTSE 100 Index   6,184.900   GBP  06/17/16   332,725    (342,491)
 88,500   Barclays Bank PLC  Call on Nikkei 225 Index   17,111.040   JPY  06/03/16   307,396    (171,272)
 91,000   Morgan Stanley  Call on Nikkei 225 Index   16,392.620   JPY  06/17/16   312,314    (766,170)
 94,200   Morgan Stanley  Call on Nikkei 225 Index   17,113.120   JPY  07/01/16   307,596    (456,216)
 37,400   BNP Paribas Bank  Call on S&P 500 Index   2,099.925   USD  06/03/16   915,298    (247,044)
 36,800   Citigroup, Inc.  Call on S&P 500 Index   2,076.890   USD  06/17/16   932,251    (1,183,640)
 36,300   Citigroup, Inc.  Call on S&P 500 Index   2,078.170   USD  07/01/16   927,146    (1,459,745)
Options on Currencies                        
 15,000,000   Barclays Bank PLC  Put USD vs. Call EUR   1.175   USD  06/17/16   90,000    (493)
 11,000,000   BNP Paribas Bank  Put USD vs. Call EUR   1.162   USD  08/19/16   73,700    (34,654)
 15,000,000   Morgan Stanley  Put USD vs. Call EUR   1.170   USD  07/20/16   105,000    (18,075)
 14,000,000   Barclays Bank PLC  Put USD vs. Call GBP   1.491   USD  07/20/16   168,000    (126,019)
 26,000,000   BNP Paribas Bank  Put USD vs. Call GBP   1.499   USD  06/17/16   195,000    (21,156)
 26,000,000   BNP Paribas Bank  Put USD vs. Call GBP   1.511   USD  08/19/16   273,000    (173,110)
 11,000,000   Barclays Bank PLC  Put USD vs. Call JPY   102.870   USD  07/20/16   66,000    (16,757)
 15,000,000   Barclays Bank PLC  Put USD vs. Call JPY   104.270   USD  08/19/16   96,000    (68,581)
 15,000,000   BNP Paribas Bank  Put USD vs. Call JPY   105.140   USD  06/17/16   82,500    (4,042)
        Total Written OTC Options  $6,717,427   $(6,753,428)

 

 

 

  

Voya Global Equity Dividend and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2016 (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 May 31, 2016 was as follows:

 

   Fair Value 
Derivatives not accounted for as hedging instruments     
         
Asset Derivatives  Instrument Type     
Foreign exchange contracts  Purchased options  $636,251 
Equity contracts  Futures contracts   297,020 
Total Asset Derivatives     $933,271 
         
Liability Derivatives  Instrument Type     
Equity Contracts  Futures contracts  $230,595 
Equity Contracts  Written options   462,887 
Foreign exchange contracts  Written options   6,290,541 
Total Liability Derivatives     $6,984,023 

 

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 May 31, 2016:

 

   Barclays Bank PLC   BNP Paribas Bank   Citigroup, Inc.   Morgan Stanley   Totals 
Assets:                         
Purchased Options  $232,066   $318,113   $-   $86,072   $636,251 
Total Assets  $232,066   $318,113   $-   $86,072   $636,251 
                          
Liabilities:                         
Written options  $803,665   $1,518,478   $2,643,385   $1,787,900   $6,753,428 
Total Liabilities  $803,665   $1,518,478   $2,643,385   $1,787,900   $6,753,428 
                          
Net OTC derivative instruments by counterparty, at fair value  $(571,599)  $(1,200,365)  $(2,643,385)  $(1,701,828)   (6,117,177)
                          
Total collateral pledged by the Fund/(Received from counterparty)  $-   $-   $-   $-   $- 
                          
Net Exposure(1)  $(571,599)  $(1,200,365)  $(2,643,385)  $(1,701,828)  $(6,117,177)

 

(1)Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund.

 

 

 

 

Item 2. 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-Q 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-Q and the officer certifications of such Form N-Q.

 

(b)There were no significant changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s last 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 3. Exhibits.

 

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX- 99.CERT.

 

 

 

  

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 Global Equity Dividend and Premium Opportunity Fund

 

By /s/ Shaun P. Mathews  
  Shaun P. Mathews  
  President and Chief Executive Officer  
     
Date: July 27, 2016  

 

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/ Shaun P. Mathews  
  Shaun P. Mathews  
  President and Chief Executive Officer  
     
Date: July 27, 2016  
     
By /s/ Todd Modic  
  Todd Modic  
  Senior Vice President and Chief Financial Officer  
     
Date: July 27, 2016