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: November 30, 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 November 30, 2016 (Unaudited)

  

Shares        Value  

Percentage

of Net

Assets

 
COMMON STOCK: 95.1%
      Belgium: 0.4%          
90,600    Ageas  $3,377,596    0.4 
                 
      Canada: 3.7%          
80,747     Canadian Imperial Bank of Commerce   6,370,556    0.8 
578,321     Cenovus Energy, Inc.   8,941,954    1.2 
483,814     Shaw Communications, Inc. - Class B   9,468,823    1.3 
64,581     TransCanada Corp.   2,900,448    0.4 
          27,681,781    3.7 
                 
      France: 10.5%          
263,993     BNP Paribas   15,300,691    2.0 
178,994     Casino Guichard Perrachon S.A.   8,134,482    1.1 
207,031     Cie de Saint-Gobain   8,967,755    1.2 
291,594     Eutelsat Communications   5,241,984    0.7 
925,490     Engie SA   11,395,246    1.5 
112,997     Sanofi   9,107,147    1.2 
254,500     Total S.A.   12,134,000    1.6 
143,425     Vinci S.A.   9,288,880    1.2 
          79,570,185    10.5 
                 
      Germany: 0.8%          
371,545  @  Deutsche Bank AG   5,857,774    0.8 
                 
      Italy: 3.3%          
998,961     Assicurazioni Generali S.p.A.   12,607,369    1.6 
472,087     ENI S.p.A.   6,604,972    0.9 
2,871,700     UniCredit SpA   6,125,621    0.8 
          25,337,962    3.3 
                 
      Japan: 9.5%          
103,700     Canon, Inc.   2,991,072    0.4 
129,300     Hitachi Chemical Co., Ltd.   2,887,352    0.4 
489,100     Itochu Corp.   6,756,073    0.9 
198,400     Japan Airlines Co. Ltd.   5,923,758    0.8 
269,900     Japan Post Bank Co. Ltd.   3,225,603    0.4 
2,073,300     Mitsubishi UFJ Financial Group, Inc.   12,466,604    1.6 
439,500     Mitsui & Co., Ltd.   5,985,479    0.8 
46,400     Murata Manufacturing Co., Ltd.   6,410,964    0.9 
968,800     Nissan Motor Co., Ltd.   9,155,995    1.2 
334,900     Sumitomo Mitsui Financial Group, Inc.   12,630,509    1.7 
1,041,000     Taiheiyo Cement Corp.   3,298,567    0.4 
          71,731,976    9.5 
                 
      Netherlands: 3.0%          
889,132  @  ArcelorMittal   6,690,797    0.9 
631,467     Royal Dutch Shell PLC   16,101,715    2.1 
          22,792,512    3.0 
                 
      Singapore: 1.1%          
1,938,700     Singapore Telecommunications Ltd.   5,088,916    0.7 
Shares        Value  

Percentage

of Net

Assets

 
COMMON STOCK: (continued)
      Singapore: (continued)          
219,200    United Overseas Bank Ltd.  $3,109,133    0.4 
          8,198,049    1.1 
                 
      Spain: 1.8%          
200,400     ACS Actividades de Construccion y Servicios S.A.   5,893,064    0.8 
935,243     Telefonica S.A.   7,790,703    1.0 
          13,683,767    1.8 
                 
      Sweden: 2.3%          
111,200     Electrolux AB   2,599,692    0.3 
1,214,100     Telefonaktiebolaget LM Ericsson   6,231,008    0.8 
827,701     Volvo AB - B Shares   8,850,266    1.2 
          17,680,966    2.3 
                 
      Switzerland: 4.5%          
434,566     Credit Suisse Group AG   5,780,231    0.8 
127,287     Novartis AG   8,772,847    1.1 
37,281     Roche Holding AG   8,297,678    1.1 
14,300  @  Syngenta AG   5,453,888    0.7 
23,111     Zurich Insurance Group AG   6,055,106    0.8 
          34,359,750    4.5 
                 
      Taiwan: 1.1%          
402,100     MediaTek, Inc.   2,784,164    0.3 
197,567     Taiwan Semiconductor Manufacturing Co., Ltd. ADR   5,865,764    0.8 
          8,649,928    1.1 
                 
      United Kingdom: 9.3%          
2,318,513     Barclays PLC   6,242,785    0.8 
1,211,192     HSBC Holdings PLC   9,600,634    1.3 
142,913     Imperial Brands PLC   6,128,515    0.8 
2,060,237     J Sainsbury PLC   5,950,590    0.8 
2,058,800     Kingfisher PLC   9,058,032    1.2 
268,923     Rio Tinto PLC   10,146,758    1.4 
926,600     RSA Insurance Group PLC   6,262,330    0.8 
287,150     SSE PLC   5,289,975    0.7 
4,782,654     Vodafone Group PLC   11,553,685    1.5 
          70,233,304    9.3 
                 
      United States: 43.8%          
214,600     Abbott Laboratories   8,169,822    1.1 
154,211     AbbVie, Inc.   9,376,029    1.2 
95,100     American Electric Power Co., Inc.   5,615,655    0.7 
60,006     Amgen, Inc.   8,645,064    1.1 
144,951     Apple, Inc.   16,019,985    2.1 
52,338     Bristol-Myers Squibb Co.   2,953,957    0.4 
85,300     Bunge Ltd.   5,824,284    0.8 
66,480     Caterpillar, Inc.   6,352,829    0.8 
253,579     CenturyLink, Inc.   5,964,178    0.8 
86,766     Chevron Corp.   9,679,615    1.3 
388,139     Cisco Systems, Inc.   11,574,305    1.5 
292,100     Citigroup, Inc.   16,471,519    2.2 
171,900     ConAgra Foods, Inc.   6,307,011    0.8 
122,844     Eli Lilly & Co.   8,245,289    1.1 

 

 

 

 

Voya Global Equity Dividend and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

as of November 30, 2016 (Unaudited) (Continued)

 

Shares        Value  

Percentage

of Net

Assets

 
COMMON STOCK: (continued)
      United States: (continued)          
114,495    Eversource Energy  $5,910,232    0.8 
104,648     Exxon Mobil Corp.   9,135,770    1.2 
376,873     Freeport-McMoRan, Inc.   5,785,001    0.8 
326,950     Gap, Inc.   8,163,941    1.1 
422,131     General Electric Co.   12,984,750    1.7 
122,700     Gilead Sciences, Inc.   9,042,990    1.2 
58,600     International Business Machines Corp.   9,506,092    1.3 
91,664     Intel Corp.   3,180,741    0.4 
100,700     Las Vegas Sands Corp.   6,310,869    0.8 
211,157     Macy's, Inc.   8,910,825    1.2 
299,300     Mattel, Inc.   9,448,901    1.2 
80,400     McDonald's Corp.   9,589,308    1.3 
101,100     Merck & Co., Inc.   6,186,309    0.8 
228,147     Metlife, Inc.   12,550,366    1.7 
199,776     Microsoft Corp.   12,038,502    1.6 
233,600     Mosaic Co.   6,634,240    0.9 
471,387     Pfizer, Inc.   15,150,378    2.0 
82,104     PNC Financial Services Group, Inc.   9,075,776    1.2 
105,282     Procter & Gamble Co.   8,681,554    1.1 
75,800     Schlumberger Ltd.   6,370,990    0.8 
161,039     Seagate Technology   6,457,664    0.9 
52,300     Stanley Black & Decker, Inc.   6,204,349    0.8 
244,350     Symantec Corp.   5,959,696    0.8 
126,883     Verizon Communications, Inc.   6,331,462    0.8 
121,100     Wal-Mart Stores, Inc.   8,529,073    1.1 
63,600     WestRock Co.   3,256,320    0.4 
          332,595,641    43.8 
                 
   Total Common Stock          
   (Cost $809,615,428)   721,751,191    95.1 

 

# of Contracts  Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: 0.3%
      Options on Currencies: 0.3%      
14,000,000  @  Call USD vs. Put EUR, Strike @ 1.078, Exp. 12/20/16 Counterparty: BNP Paribas S.A.   307,743    0.1 
7,500,000  @  Call USD vs. Put EUR, Strike @ 1.059, Exp. 01/20/17 Counterparty: Barclays Bank PLC   106,700    0.0 
7,500,000  @  Call USD vs. Put EUR, Strike @ 1.020, Exp. 01/20/17 Counterparty: BNP Paribas S.A.   51,016    0.0 
24,000,000  @  Call USD vs. Put GBP, Strike @ 1.239, Exp. 12/20/16 Counterparty: BNP Paribas S.A.   132,082    0.0 
25,000,000  @  Call USD vs. Put GBP, Strike @ 1.165, Exp. 01/20/17 Counterparty: Barclays Bank PLC   26,623    0.0 
# of Contracts  Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: (continued)
      Options on Currencies: (continued)      
25,000,000  @  Call USD vs. Put GBP, Strike @ 1.196, Exp. 02/20/17 Counterparty: Goldman Sachs International  $135,737    0.0 
15,000,000  @  Call USD vs. Put JPY, Strike @ 106.800, Exp. 12/20/16 Counterparty: Barclays Bank PLC   997,453    0.1 
13,000,000  @  Call USD vs. Put JPY, Strike @ 116.220, Exp. 02/20/17 Counterparty: Barclays Bank PLC   198,522    0.0 
10,000,000  @  Call USD vs. Put JPY, Strike @ 107.750, Exp. 01/20/17 Counterparty: Morgan Stanley & Co. International PLC   589,863    0.1 
          2,545,739    0.3 
                 
   Total Purchased Options          
   (Cost $985,850)   2,545,739    0.3 
                 
   Total Long-Term Investments          
   (Cost $810,601,278)   724,296,930    95.4 

 

Shares        Value   Percentage
of Net
Assets		 
SHORT-TERM INVESTMENTS: 5.1%
      Mutual Funds: 5.1%          
38,499,843    BlackRock Liquidity Funds, FedFund, Institutional Class, 0.310%        
      (Cost $38,499,843)   38,499,843    5.1 
                 
   Total Short-Term Investments          
   (Cost $38,499,843)   38,499,843    5.1 
                 
   Total Investments in Securities
(Cost $849,101,121)		  $762,796,773    100.5 
   Liabilities in Excess of Other Assets   (3,831,266)   (0.5)
   Net Assets  $758,965,507    100.0 

 

@ Non-income producing security.
 ADR American Depositary Receipt

  

  Cost for federal income tax purposes is $849,408,600.
   
  Net unrealized depreciation consists of:

 

Gross Unrealized Appreciation  $52,248,667 
Gross Unrealized Depreciation   (138,860,494)
      
Net Unrealized Depreciation  $(86,611,827)

 

 

 

 

Voya Global Equity Dividend and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

as of November 30, 2016 (Unaudited) (Continued)

  

 

Sector Diversification

  Percentage
of Net Assets		 
Financials   20.1%
Health Care   12.3%
Information Technology   11.8 
Consumer Discretionary   10.3 
Industrials   10.2 
Energy   9.5 
Consumer Staples   6.5 
Materials   5.9 
Telecommunication Services   4.8 
Utilities   3.7 
Purchased Options   0.3 
Short-Term Investments   5.1 
Liabilities in Excess of Other Assets   (0.5)
Net Assets   100.0%

  

Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of November 30, 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
November 30,
2016		 
Asset Table                    
Investments, at fair value                    
Common Stock                    
Belgium  $–   $3,377,596   $–   $3,377,596 
Canada   27,681,781    –    –    27,681,781 
France   –    79,570,185    –    79,570,185 
Germany   –    5,857,774    –    5,857,774 
Italy   –    25,337,962    –    25,337,962 
Japan   –    71,731,976    –    71,731,976 
Netherlands   –    22,792,512    –    22,792,512 
Singapore   –    8,198,049    –    8,198,049 
Spain   –    13,683,767    –    13,683,767 
Sweden   –    17,680,966    –    17,680,966 
Switzerland   5,453,888    28,905,862    –    34,359,750 
Taiwan   5,865,764    2,784,164    –    8,649,928 
United Kingdom   –    70,233,304    –    70,233,304 
United States   332,595,641    –    –    332,595,641 
Total Common Stock   371,597,074    350,154,117    –    721,751,191 
Purchased Options   –    2,545,739    –    2,545,739 
Short-Term Investments   38,499,843    –    –    38,499,843 
Total Investments, at fair value  $410,096,917   $352,699,856   $–   $762,796,773 
Other Financial Instruments+                    
Futures   126,827    –    –    126,827 
Total Assets  $410,223,744   $352,699,856   $–   $762,923,600 
Liabilities Table                    
Other Financial Instruments+                    
Futures  $(58,860)  $–   $–   $(58,860)
Written Options   –    (9,259,155)   –    (9,259,155)
Total Liabilities  $(58,860)  $(9,259,155)  $–   $(9,318,015)

  

+ 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.

  

 

 

 

Voya Global Equity Dividend and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

as of November 30, 2016 (Unaudited) (Continued)

 

At November 30, 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  346  12/16/16  $11,188,261   $(51,065)
FTSE 100 Index  183  12/16/16   15,527,627    69,468 
Nikkei 225 Index  64  12/08/16   5,139,636    57,359 
S&P 500 E-Mini  33  12/16/16   3,628,020    (7,795)
         $35,483,544   $67,967 

  

At November 30, 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
 2,700   BNP Paribas S.A.  Call on EURO STOXX 50® Index   3,113.024   EUR  12/02/16  $134,665   $(6,361)
 2,800   Morgan Stanley & Co. International PLC  Call on EURO STOXX 50® Index   3,072.850   EUR  01/06/17   161,241    (179,380)
 2,700   Societe Generale  Call on EURO STOXX 50® Index   3,013.880   EUR  12/16/16   178,240    (220,952)
 2,800   BNP Paribas S.A.  Call on FTSE 100 Index   6,778.214   GBP  12/16/16   381,959    (325,066)
 2,900   Citibank N.A.  Call on FTSE 100 Index   7,080.640   GBP  12/02/16   278,034    (1)
 2,900   Morgan Stanley & Co. International PLC  Call on FTSE 100 Index   6,844.145   GBP  01/06/17   287,495    (333,843)
 77,200   BNP Paribas S.A.  Call on Nikkei 225 Index   17,185.378   JPY  12/16/16   238,660    (781,024)
 78,200   Citibank N.A.  Call on Nikkei 225 Index   17,447.850   JPY  12/02/16   190,326    (589,379)
 80,300   Morgan Stanley & Co. International PLC  Call on Nikkei 225 Index   18,265.450   JPY  01/06/17   219,493    (289,949)
 37,100   Barclays Bank PLC  Call on S&P 500 Index   2,115.360   USD  12/16/16   1,053,343    (3,275,714)
 37,200   Barclays Bank PLC  Call on S&P 500 Index   2,151.765   USD  12/02/16   846,333    (1,776,293)
 36,500   Citibank N.A.  Call on S&P 500 Index   2,206.600   USD  01/06/17   885,125    (981,237)
Options on Currencies                        
 7,500,000   Barclays Bank PLC  Put USD vs. Call EUR   1.129   USD  01/20/17   41,850    (7,547)
 7,500,000   BNP Paribas S.A.  Put USD vs. Call EUR   1.104   USD  02/20/17   46,500    (41,848)
 14,000,000   BNP Paribas S.A.  Put USD vs. Call EUR   1.154   USD  12/20/16   81,200    (989)
 25,000,000   Barclays Bank PLC  Put USD vs. Call GBP   1.266   USD  01/20/17   212,000    (244,783)
 24,000,000   BNP Paribas S.A.  Put USD vs. Call GBP   1.343   USD  12/20/16   160,800    (1,091)
 25,000,000   Goldman Sachs International  Put USD vs. Call GBP   1.294   USD  02/20/17   175,000    (166,853)
 13,000,000   Barclays Bank PLC  Put USD vs. Call JPY   104.450   USD  02/20/17   91,000    (35,422)
 15,000,000   Barclays Bank PLC  Put USD vs. Call JPY   95.380   USD  12/20/16   115,500    (41)
 10,000,000   Morgan Stanley & Co. International PLC  Put USD vs. Call JPY   98.100   USD  01/20/17   62,000    (1,382)
        Total Written OTC Options  $5,840,764   $(9,259,155)

 

 

 

  

Voya Global Equity Dividend and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

as of November 30, 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 November 30, 2016 was as follows:

 

    Fair Value  
Derivatives not accounted for as hedging instruments      
           
Asset Derivatives   Instrument Type        
Foreign exchange contracts   Purchased options   $ 2,545,739  
Equity contracts   Futures contracts     126,827  
Total Asset Derivatives       $ 2,672,566  
             
Liability Derivatives   Instrument Type        
Equity Contracts   Futures contracts   $ 58,860  
Equity Contracts   Written options     8,759,199  
Foreign exchange contracts   Written options     499,956  
Total Liability Derivatives       $ 9,318,015  

  

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 November 30, 2016:

 

   Barclays
Bank PLC		   BNP
Paribas S.A.		   Citibank
N.A.		   Goldman
Sachs
International		   Morgan
Stanley & Co.
International PLC		   Societe
Generale		   Totals 
Assets:                            
Purchased Options  $1,329,298   $490,841   $-   $135,737   $589,863   $-   $2,545,739 
Total Assets  $1,329,298   $490,841   $-   $135,737   $589,863   $-   $2,545,739 
                                    
Liabilities:                                   
Written options  $5,339,800   $1,156,379   $1,570,617   $166,853   $804,554   $220,952   $9,259,155 
Total Liabilities  $5,339,800   $1,156,379   $1,570,617   $166,853   $804,554   $220,952   $9,259,155 
                                    
Net OTC derivative instruments by counterparty, at fair value  $(4,010,502)  $(665,538)  $(1,570,617)  $(31,116)  $(214,691)  $(220,952)   (6,713,416)
                                    
Total collateral pledged by the Fund/(Received from counterparty)  $-   $-   $-   $-   $-   $-   $- 
                                    
Net Exposure(1)  $(4,010,502)  $(665,538)  $(1,570,617)  $(31,116)  $(214,691)  $(220,952)  $(6,713,416)

 

(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: January 20, 2017  

 

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: January 20, 2017  
     
By /s/ Todd Modic  
  Todd Modic  
  Senior Vice President and Chief Financial Officer  
     
Date: January 20, 2017