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, 2015

 

 

 

 

 

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.

  

 

 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of November 30, 2015 (Unaudited)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: 95.8%
      Belgium: 0.8%          
154,400     Ageas  $6,755,211    0.8 
                 
      Canada: 3.5%          
86,547  @  Canadian Imperial Bank of Commerce   6,498,883    0.8 
598,121  @  Cenovus Energy, Inc.   8,850,104    1.1 
505,914  @  Shaw Communications, Inc. - Class B   10,501,281    1.3 
91,781  @  TransCanada Corp.   2,896,141    0.3 
          28,746,409    3.5 
                 
      France: 9.7%          
272,093     BNP Paribas   16,109,171    2.0 
161,694     Casino Guichard Perrachon S.A.   9,237,675    1.1 
227,631     Cie de Saint-Gobain   10,043,936    1.2 
194,794     Eutelsat Communications   5,810,847    0.7 
554,290     Engie SA   9,650,282    1.2 
66,497     Sanofi   5,909,855    0.7 
258,000     Total S.A.   12,775,708    1.6 
152,525     Vinci S.A.   9,908,182    1.2 
          79,445,656    9.7 
                 
      Germany: 2.1%          
345,445     Deutsche Bank AG   8,848,445    1.1 
49,700     SAP SE   3,924,781    0.5 
86,500     Wincor Nixdorf AG   4,369,623    0.5 
          17,142,849    2.1 
                 
      Italy: 3.8%          
725,061     Assicurazioni Generali S.p.A.   13,772,899    1.7 
471,387     ENI S.p.A.   7,666,351    0.9 
1,641,400     UniCredit SpA   9,618,684    1.2 
          31,057,934    3.8 
                 
      Japan: 7.9%          
139,600     Canon, Inc.   4,218,574    0.5 
401,400     Hitachi Chemical Co., Ltd.   6,685,512    0.8 
512,900     Itochu Corp.   6,248,045    0.8 
179,500     Japan Post Bank Co. Ltd.   2,537,206    0.3 
1,964,100     Mitsubishi UFJ Financial Group, Inc.   12,619,683    1.6 
550,300     Mitsui & Co., Ltd.   6,746,929    0.8 
932,300     Nissan Motor Co., Ltd.   9,957,944    1.2 
320,000     Sumitomo Mitsui Financial Group, Inc.   12,214,064    1.5 
71,900     Takeda Pharmaceutical Co., Ltd.   3,498,638    0.4 
          64,726,595    7.9 
                 
      Netherlands: 2.5%          
1,046,960     ArcelorMittal   5,133,702    0.6 
600,767     Royal Dutch Shell PLC   14,949,475    1.9 
          20,083,177    2.5 
Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)
      Singapore: 1.2%          
2,360,100     Singapore Telecommunications Ltd.  $6,406,018    0.8 
219,200     United Overseas Bank Ltd.   3,010,481    0.4 
          9,416,499    1.2 
                 
      Spain: 1.2%          
764,343     Telefonica S.A.   9,407,204    1.2 
                 
      Sweden: 1.6%          
122,800     Electrolux AB   3,599,019    0.5 
901,401     Volvo AB - B Shares   9,305,097    1.1 
          12,904,116    1.6 
                 
      Switzerland: 5.8%          
393,524     Credit Suisse Group AG   8,456,845    1.0 
102,587     Novartis AG   8,751,924    1.1 
49,081     Roche Holding AG   13,146,891    1.6 
458,212     STMicroelectronics NV   3,330,369    0.4 
19,900     Syngenta AG   7,329,170    0.9 
23,211     Zurich Insurance Group AG   6,109,012    0.8 
          47,124,211    5.8 
                 
      Taiwan: 1.6%          
340,100     MediaTek, Inc.   2,710,264    0.3 
465,267  @  Taiwan Semiconductor Manufacturing Co., Ltd. - SP ADR   10,589,477    1.3 
          13,299,741    1.6 
                 
      United Kingdom: 10.4%    
2,377,613     Barclays PLC   7,994,748    1.0 
1,195,192     HSBC Holdings PLC   9,536,276    1.2 
156,513     Imperial Tobacco Group PLC   8,453,853    1.0 
1,714,137     J Sainsbury PLC   6,549,869    0.8 
1,898,200     Kingfisher PLC   10,093,277    1.2 
833,960     Rexam PLC   7,273,135    0.9 
259,023     Rio Tinto PLC   8,576,418    1.0 
1,048,000     RSA Insurance Group PLC   6,948,353    0.9 
301,150     SSE PLC   6,495,779    0.8 
3,822,454     Vodafone Group PLC   12,863,807    1.6 
          84,785,515    10.4 
                 
      United States: 43.7%          
119,911     AbbVie, Inc.   6,972,825    0.9 
208,700     ADT Corp.   7,402,589    0.9 
114,500     American Electric Power Co., Inc.   6,413,145    0.8 
61,206     Amgen, Inc.   9,860,287    1.2 
82,151     Apple, Inc.   9,718,463    1.2 
177,350     Baxter International, Inc.   6,677,227    0.8 
56,238     Bristol-Myers Squibb Co.   3,768,508    0.5 
90,580     Caterpillar, Inc.   6,580,637    0.8 
251,979     CenturyLink, Inc.   6,785,794    0.8 
112,966     Chevron Corp.   10,316,055    1.3 
376,139     Cisco Systems, Inc.   10,249,788    1.3 
295,600     Citigroup, Inc.   15,989,004    2.0 
239,500     ConAgra Foods, Inc.   9,802,735    1.2 
83,944     Eli Lilly & Co.   6,886,766    0.8 

 

 

 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of November 30, 2015 (Unaudited) (Continued)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)
      United States: (continued)    
362,600     EMC Corp.  $9,188,284    1.1 
128,195     Eversource Energy   6,531,535    0.8 
169,248     Exxon Mobil Corp.   13,820,792    1.7 
787,173     Freeport-McMoRan, Inc.   6,439,075    0.8 
352,150     Gap, Inc.   9,412,970    1.1 
532,431     General Electric Co.   15,940,984    2.0 
122,764     Intel Corp.   4,268,504    0.5 
95,691     Johnson & Johnson   9,687,757    1.2 
102,774     JPMorgan Chase & Co.   6,852,970    0.8 
126,700     Las Vegas Sands Corp.   5,582,402    0.7 
129,757     Macy's, Inc.   5,070,904    0.6 
410,700     Mattel, Inc.   10,210,002    1.2 
113,200     McDonald's Corp.   12,922,912    1.6 
256,247     Metlife, Inc.   13,091,659    1.6 
300,476     Microsoft Corp.   16,330,871    2.0 
70,178     Molson Coors Brewing Co.   6,458,481    0.8 
165,700     Mosaic Co.   5,242,748    0.6 
496,487     Pfizer, Inc.   16,269,879    2.0 
107,904     PNC Financial Services Group, Inc.   10,305,911    1.3 
137,582     Procter & Gamble Co.   10,296,637    1.3 
117,200     SanDisk Corp.   8,657,564    1.1 
85,000     Schlumberger Ltd.   6,557,750    0.8 
191,039     Seagate Technology   6,865,942    0.8 
60,000     Stanley Black & Decker, Inc.   6,549,600    0.8 
467,050     Symantec Corp.   9,144,839    1.1 
50,300     Verizon Communications, Inc.   2,286,135    0.3 
101,783  @  Verizon Communications, Inc. - VZC   4,613,012    0.6 
          356,023,942    43.7 
                 
   Total Common Stock          
   (Cost $829,344,701)   780,919,059    95.8 
                 
RIGHTS: 0.0%          
      Switzerland: 0.0%          
393,524  @  Credit Suisse Group AG   240,968    0.0 
                 
   Total Rights          
   (Cost $–)   240,968    0.0 

 

# of Contracts  Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: 0.3%
      Options on Currencies: 0.3%    
17,000,000  @  Call USD vs. Put EUR, Strike @ 1.016, Exp. 02/19/16 Counterparty: Societe Generale   139,199    0.0 
15,000,000  @  Call USD vs. Put EUR, Strike @ 1.092, Exp. 12/18/15 Counterparty: BNP Paribas Bank   506,637    0.1 
19,000,000  @  Call USD vs. Put EUR, Strike @ 1.090, Exp. 01/20/16 Counterparty: Goldman Sachs & Co.   685,190    0.1 
# of Contracts  Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: (continued)          
30,000,000  @  Call USD vs. Put GBP, Strike @ 1.472, Exp. 02/19/16 Counterparty: Societe Generale  $204,654    0.0 
27,000,000  @  Call USD vs. Put GBP, Strike @ 1.510, Exp. 12/18/15 Counterparty: Societe Generale   212,064    0.1 
22,000,000  @  Call USD vs. Put GBP, Strike @ 1.499, Exp. 01/20/16 Counterparty: Goldman Sachs & Co.   210,361    0.0 
14,000,000  @  Call USD vs. Put JPY, Strike @ 124.930, Exp. 12/18/15 Counterparty: Deutsche Bank AG   22,136    0.0 
12,500,000  @  Call USD vs. Put JPY, Strike @ 127.140, Exp. 02/19/16 Counterparty: Goldman Sachs & Co.   54,327    0.0 
16,000,000  @  Call USD vs. Put JPY, Strike @ 124.400, Exp. 01/20/16 Counterparty: Societe Generale   121,999    0.0 
          2,156,567    0.3 
                 
   Total Purchased Options          
   (Cost $981,300)   2,156,567    0.3 
                 
   Total Investments in Securities
(Cost $830,326,001)		  $783,316,594    96.1 
   Assets in Excess of Other Liabilities   31,838,154    3.9 
   Net Assets  $815,154,748    100.0 

 

 

@ Non-income producing security.
 ADR American Depositary Receipt

 

Cost for federal income tax purposes is $830,482,413.

 

Net unrealized depreciation consists of:

 

Gross Unrealized Appreciation  $71,820,304 
Gross Unrealized Depreciation   (118,986,123)
Net Unrealized Depreciation  $(47,165,819)

 

 

Sector Diversification  Percentage
of Net Assets		 
Financials   22.0%
Information Technology   12.6 
Health Care   11.2 
Consumer Discretionary   10.1 
Industrials   9.6 
Energy   9.6 
Consumer Staples   6.2 
Materials   5.6 
Telecommunication Services   5.3 
Utilities   3.6 
Purchased Options   0.3 
Assets in Excess of Other Liabilities   3.9 
Net Assets   100.0%

 

 

 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of November 30, 2015 (Unaudited) (Continued)

 

Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of November 30, 2015 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,
2015		 
Asset Table                    
Investments, at fair value                    
Common Stock                    
Belgium  $–   $6,755,211   $–   $6,755,211 
Canada   28,746,409    –    –    28,746,409 
France   –    79,445,656    –    79,445,656 
Germany   –    17,142,849    –    17,142,849 
Italy   –    31,057,934    –    31,057,934 
Japan   2,537,206    62,189,389    –    64,726,595 
Netherlands   –    20,083,177    –    20,083,177 
Singapore   –    9,416,499    –    9,416,499 
Spain   –    9,407,204    –    9,407,204 
Sweden   –    12,904,116    –    12,904,116 
Switzerland   –    47,124,211    –    47,124,211 
Taiwan   10,589,477    2,710,264    –    13,299,741 
United Kingdom   –    84,785,515    –    84,785,515 
United States   351,410,930    4,613,012    –    356,023,942 
Total Common Stock   393,284,022    387,635,037    –    780,919,059 
Rights   240,968    –    –    240,968 
Purchased Options   –    2,156,567    –    2,156,567 
Total Investments, at fair value  $393,524,990   $389,791,604   $–   $783,316,594 
Other Financial Instruments+                    
Futures   26,756    –    –    26,756 
Total Assets  $393,551,746   $389,791,604   $–   $783,343,350 
Liabilities Table                    
Other Financial Instruments+                    
Futures  $(625,368)  $–   $–   $(625,368)
Written Options   –    (6,504,787)   –    (6,504,787)
Total Liabilities  $(625,368)  $(6,504,787)  $–   $(7,130,155)

 

+ 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 November 30, 2015, 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)		 
Short Contracts                  
EURO STOXX 50®  (159)    12/18/15  $(5,888,080)  $3,240 
FTSE 100 Index  (63)    12/18/15   (6,027,494)   23,516 
Nikkei 225 Index  (93)    12/10/15   (7,467,953)   (315,677)
S&P 500 E-Mini  (67)    12/18/15   (6,967,330)   (309,691)
           $(26,350,857)  $(598,612)

 

 

 

 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of November 30, 2015 (Unaudited) (Continued)

 

At November 30, 2015, the following over-the-counter written options were outstanding for Voya Global Equity Dividend and Premium Opportunity Fund:

  

Number of
Contracts		   Counterparty  Description  Exercise
Price		  Expiration
Date		  Premiums
Received		   Fair Value 
Options on Indices            
 4,700   BNP Paribas Bank  Call on EURO STOXX 50® Index   3,326.830   EUR  12/04/15  $347,978   $(906,138)
 4,600   BNP Paribas Bank  Call on EURO STOXX 50® Index   3,525.675   EUR  12/18/15   292,693    (300,523)
 4,600   Morgan Stanley  Call on EURO STOXX 50® Index   3,510.840   EUR  01/08/16   313,516    (449,584)
 2,800   Barclays Bank PLC  Call on FTSE 100 Index   6,408.288   GBP  01/18/16  $390,609   $(420,633)
 2,800   BNP Paribas Bank  Call on FTSE 100 Index   6,414.876   GBP  12/18/15   318,233    (266,006)
 2,700   BNP Paribas Bank  Call on FTSE 100 Index   6,431.292   GBP  12/04/15   370,193    (72,774)
 88,500   BNP Paribas Bank  Call on Nikkei 225 Index   19,606.130   JPY  12/18/15   253,065    (303,973)
 85,000   Citigroup, Inc.  Call on Nikkei 225 Index   20,258.200   JPY  01/08/16   243,609    (171,994)
 98,800   Morgan Stanley  Call on Nikkei 225 Index   18,755.280   JPY  12/04/15   349,137    (803,603)
 38,100   Citigroup, Inc.  Call on S&P 500 Index   2,117.360   USD  12/18/15   892,805    (389,154)
 37,900   Citigroup, Inc.  Call on S&P 500 Index   2,119.160   USD  01/08/16   1,023,289    (677,014)
 40,300   Morgan Stanley  Call on S&P 500 Index   2,047.010   USD  12/04/15   1,082,031    (1,483,526)
Options on Currencies                
 15,000,000   BNP Paribas Bank  Put USD vs. Call EUR   1.186   USD  12/18/15   102,000    (55)
 19,000,000   Goldman Sachs & Co.  Put USD vs. Call EUR   1.173   USD  01/20/16   121,600    (5,796)
 17,000,000   Societe Generale  Put USD vs. Call EUR   1.111   USD  02/19/16   132,600    (93,552)
 22,000,000   Goldman Sachs & Co.  Put USD vs. Call GBP   1.591   USD  01/20/16   103,400    (10,498)
 30,000,000   Societe Generale  Put USD vs. Call GBP   1.563   USD  02/19/16   156,000    (87,864)
 27,000,000   Societe Generale  Put USD vs. Call GBP   1.608   USD  12/18/15   132,300    (131)
 14,000,000   Deutsche Bank AG  Put USD vs. Call JPY   113.550   USD  12/18/15   85,400    (240)
 12,500,000   Goldman Sachs & Co.  Put USD vs. Call JPY   117.980   USD  02/19/16   60,000    (49,154)
 16,000,000   Societe Generale  Put USD vs. Call JPY   114.960   USD  01/20/16   88,000    (12,575)
            Total Written OTC Options  $6,858,458   $(6,504,787)

 

 

 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of November 30, 2015 (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, 2015 was as follows:

 

   Fair Value 
Derivatives not accounted for as hedging instruments    
        
Asset Derivatives  Instrument Type     
Foreign exchange contracts  Purchased options  $2,156,567 
Equity contracts  Futures contracts   26,756 
Total Asset Derivatives     $2,183,323 
         
Liability Derivatives  Instrument Type     
Equity Contracts  Futures contracts  $625,368 
Equity Contracts  Written options   6,244,922 
Foreign exchange contracts  Written options   259,865 
Total Liability Derivatives     $7,130,155 

 

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, 2015:

 

   Barclays Bank PLC   BNP Paribas Bank   Citigroup, Inc.   Deutsche Bank AG   Goldman Sachs & Co.   Morgan Stanley   Societe Generale   Totals 
Assets:                                        
Purchased Options  $-   $506,637   $-   $22,136   $949,878   $-   $677,916   $2,156,567 
Total Assets  $-   $506,637   $-   $22,136   $949,878   $-   $677,916   $2,156,567 
                                         
Liabilities:                                        
Written options  $420,633   $1,849,469   $1,238,162   $240   $65,448   $2,736,713   $194,122   $6,504,787 
Total Liabilities  $420,633   $1,849,469   $1,238,162   $240   $65,448   $2,736,713   $194,122   $6,504,787 
                                         
Net OTC derivative instruments by counterparty, at fair value  $(420,633)  $(1,342,832)  $(1,238,162)  $21,896   $884,430   $(2,736,713)  $483,794    (4,348,220)
                                         
Total collateral pledged by the Fund/(Received from counterparty)  $-   $-   $-   $-   $-   $-   $-   $- 
                                         
Net Exposure(1)  $(420,633)  $(1,342,832)  $(1,238,162)  $21,896   $884,430   $(2,736,713)  $483,794   $(4,348,220)

 

(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 22, 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: January 22, 2016  
     
By /s/ Todd Modic  
  Todd Modic  
  Senior Vice President and Chief Financial Officer  
     
Date: January 22, 2016