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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, 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 May 31, 2015 (Unaudited)

 

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: 96.3%
      Belgium: 0.8%          
196,900     Ageas  $7,369,259    0.8 
                 
      Canada: 3.6%          
95,447     Canadian Imperial Bank of Commerce   7,283,628    0.8 
577,721     Cenovus Energy, Inc.   9,532,675    1.1 
302,500     Enerplus Corp.   2,923,810    0.3 
404,814     Shaw Communications, Inc. - Class B   8,935,465    1.0 
81,281     TransCanada Corp.   3,522,874    0.4 
          32,198,452    3.6 
                 
      France: 7.8%          
297,093     BNP Paribas   17,894,870    2.0 
77,794     Casino Guichard Perrachon S.A.   6,096,865    0.7 
244,031     Cie de Saint-Gobain   11,350,411    1.2 
212,594     Eutelsat Communications   7,234,165    0.8 
524,390     GDF Suez   10,570,363    1.2 
69,097     Sanofi   6,804,689    0.7 
179,425     Vinci S.A.   10,637,951    1.2 
          70,589,314    7.8 
                 
      Germany: 2.2%          
308,445     Deutsche Bank AG   9,302,944    1.0 
98,300     SAP SE   7,298,185    0.8 
86,500     Wincor Nixdorf AG   3,230,925    0.4 
          19,832,054    2.2 
                 
      Italy: 3.4%          
741,461     Assicurazioni Generali S.p.A.   14,360,573    1.6 
488,987     ENI S.p.A.   8,811,826    1.0 
1,061,500     UniCredit SpA   7,447,485    0.8 
          30,619,884    3.4 
                 
      Japan: 8.1%          
120,500     Canon, Inc.   4,158,244    0.5 
628,900     Itochu Corp.   8,452,563    0.9 
2,219,200     Mitsubishi UFJ Financial Group, Inc.   16,363,949    1.8 
550,300     Mitsui & Co., Ltd.   7,695,822    0.8 
1,040,400     Nissan Motor Co., Ltd.   10,805,434    1.2 
99,700     Secom Co., Ltd.   6,644,183    0.7 
275,100     Sumitomo Mitsui Financial Group, Inc.   12,483,857    1.4 
144,000     Takeda Pharmaceutical Co., Ltd.   6,985,739    0.8 
          73,589,791    8.1 
                 
      Netherlands: 2.8%          
722,460     ArcelorMittal   7,702,549    0.9 
587,867     Royal Dutch Shell PLC   17,528,486    1.9 
          25,231,035    2.8 
                 
      Singapore: 1.3%          
2,725,200     Singapore Telecommunications Ltd.   8,341,910    0.9 

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)
      Singapore: (continued)          
206,400     United Overseas Bank Ltd.  $3,537,881    0.4 
          11,879,791    1.3 
                 
      Spain: 1.2%          
791,043     Telefonica S.A.   11,212,499    1.2 
                 
      Sweden: 1.8%          
137,100     Electrolux AB   4,186,649    0.5 
938,401     Volvo AB - B Shares   12,199,235    1.3 
          16,385,884    1.8 
                 
      Switzerland: 6.0%          
389,524     Credit Suisse Group AG   10,332,234    1.1 
105,587     Novartis AG   10,836,562    1.2 
47,881     Roche Holding AG - Genusschein   14,597,542    1.6 
386,912     STMicroelectronics NV   3,297,148    0.4 
10,100     Syngenta AG   4,595,874    0.5 
34,111     Zurich Insurance Group AG   10,888,354    1.2 
          54,547,714    6.0 
                 
      Taiwan: 1.7%          
285,100     MediaTek, Inc.   3,835,648    0.4 
465,267     Taiwan Semiconductor Manufacturing Co., Ltd. ADR   11,296,683    1.3 
          15,132,331    1.7 
                 
      United Kingdom: 12.8%          
2,833,013     Barclays PLC   11,731,565    1.3 
2,067,859     BP PLC   14,309,007    1.6 
1,195,192     HSBC Holdings PLC   11,355,230    1.3 
186,713     Imperial Tobacco Group PLC   9,628,343    1.1 
1,714,137     J Sainsbury PLC   6,614,505    0.7 
2,027,000     Kingfisher PLC   11,500,619    1.3 
833,960     Rexam PLC   7,120,462    0.8 
254,223     Rio Tinto PLC   11,118,292    1.2 
1,129,700     RSA Insurance Group PLC   7,463,367    0.8 
316,150     Scottish & Southern Energy PLC   8,045,329    0.9 
4,264,854     Vodafone Group PLC   16,671,246    1.8 
          115,557,965    12.8 
                 
      United States: 42.8%          
116,511     AbbVie, Inc.   7,758,467    0.9 
85,400     ADT Corp.   3,115,392    0.3 
128,600     American Electric Power Co., Inc.   7,238,894    0.8 
66,706     Amgen, Inc.   10,423,480    1.2 
86,251     Apple, Inc.   11,236,780    1.2 
155,250     Baxter International, Inc.   10,341,202    1.1 
56,238     Bristol-Myers Squibb Co.   3,632,975    0.4 
86,980     Caterpillar, Inc.   7,421,134    0.8 
101,279     CenturyLink, Inc.   3,366,514    0.4 
82,766     Chevron Corp.   8,524,898    0.9 
387,039     Cisco Systems, Inc.   11,344,113    1.3 
342,200     Citigroup, Inc.   18,506,176    2.0 
290,500     ConAgra Foods, Inc.   11,216,205    1.2 

 

 

 
 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of May 31, 2015 (Unaudited) (Continued)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)
      United States: (continued)          
147,944     Eli Lilly & Co.  $11,672,782    1.3 
277,400     EMC Corp.   7,306,716    0.8 
143,695     Eversource Energy   7,076,979    0.8 
166,048     ExxonMobil Corp.   14,147,290    1.6 
564,673     Freeport-McMoRan, Inc.   11,095,824    1.2 
263,850     Gap, Inc.   10,113,371    1.1 
655,631     General Electric Co.   17,879,057    2.0 
112,464     Intel Corp.   3,875,509    0.4 
107,991     Johnson & Johnson   10,814,219    1.2 
170,774     JPMorgan Chase & Co.   11,233,514    1.2 
65,700     Las Vegas Sands Corp.   3,339,531    0.4 
106,157     Macy's, Inc.   7,107,211    0.8 
437,800     Mattel, Inc.   11,299,618    1.2 
140,400     McDonald's Corp.   13,468,572    1.5 
286,847     Metlife, Inc.   14,990,624    1.7 
433,876     Microsoft Corp.   20,331,429    2.2 
94,378     Molson Coors Brewing Co.   6,925,458    0.8 
79,500     Mosaic Co.   3,645,075    0.4 
513,787     Pfizer, Inc.   17,854,098    2.0 
116,804     PNC Financial Services Group, Inc.   11,176,975    1.2 
129,782     Procter & Gamble Co.   10,173,611    1.1 
103,700     SanDisk Corp.   7,091,006    0.8 
81,600     Schlumberger Ltd.   7,406,832    0.8 
128,739     Seagate Technology   7,163,038    0.8 
75,100     Stanley Black & Decker, Inc.   7,693,244    0.9 
454,650     Symantec Corp.   11,195,756    1.2 
45,900     Verizon Communications, Inc.   2,269,296    0.3 
101,783     Verizon Communications, Inc. - VZC   5,041,860    0.6 
          387,514,725    42.8 
                 
   Total Common Stock
(Cost $831,989,642)		   871,660,698    96.3 

 

# of Contracts     Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: 0.1%
      Options on Currencies: 0.1%  
23,000,000  @  Call USD vs. Put EUR, Strike @ 1.020, Exp. 07/20/15 Counterparty: Goldman Sachs & Co.   48,539    0.0 
14,000,000  @  Call USD vs. Put EUR, Strike @ 1.020, Exp. 06/22/15 Counterparty: Goldman Sachs & Co.   4,264    0.0 
19,000,000  @  Call USD vs. Put EUR, Strike @ 1.057, Exp. 08/20/15 Counterparty: Goldman Sachs & Co.   173,367    0.0 
19,000,000  @  Call USD vs. Put GBP, Strike @ 1.420, Exp. 07/20/15 Counterparty: Goldman Sachs & Co.   13,214    0.0 

 

# of Contracts     Value   Percentage
of Net
Assets		 
PURCHASED OPTIONS: (continued)          
30,000,000  @  Call USD vs. Put GBP, Strike @ 1.496, Exp. 08/20/15 Counterparty: JPMorgan Chase & Co.  $258,013    0.0 
34,000,000  @  Call USD vs. Put GBP, Strike @ 1.406, Exp. 06/22/15 Counterparty: Goldman Sachs & Co.   968    0.0 
17,000,000  @  Call USD vs. Put JPY, Strike @ 123.470, Exp. 07/20/15 Counterparty: Goldman Sachs & Co.   272,536    0.1 
17,000,000  @  Call USD vs. Put JPY, Strike @ 125.680, Exp. 08/20/15 Counterparty: JPMorgan Chase & Co.   199,080    0.0 
13,000,000  @  Call USD vs. Put JPY, Strike @ 125.630, Exp. 06/22/15 Counterparty: Goldman Sachs & Co.   56,747    0.0 
          1,026,728    0.1 
                 
   Total Purchased Options
(Cost $1,321,200)		   1,026,728    0.1 
              
   Total Investments in Securities
(Cost $833,310,842)		  $872,687,426    96.4 
   Assets in Excess of Other Liabilities   32,786,571    3.6 
   Net Assets  $905,473,997    100.0 

 

 

@ Non-income producing security.
ADR American Depositary Receipt

 

Cost for federal income tax purposes is $833,468,564.

 

Net unrealized appreciation consists of:

 

Gross Unrealized Appreciation  $  102,605,502 
Gross Unrealized Depreciation   (63,386,640)
Net Unrealized Appreciation  $39,218,862 

 

Sector Diversification  Percentage
of Net Assets		 
Financials   22.4%
Information Technology   12.5 
Health Care   12.4 
Industrials   10.1 
Consumer Discretionary   9.8 
Energy   9.6 
Consumer Staples   5.6 
Telecommunication Services   5.2 
Materials   5.0 
Utilities   3.7 
Purchased Options   0.1 
Assets in Excess of Other Liabilities   3.6 
Net Assets   100.0%

 

 

 
 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of May 31, 2015 (Unaudited) (Continued)

 

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of May 31, 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
May 31, 2015		 
Asset Table                    
Investments, at fair value                    
Common Stock                    
     Belgium  $–   $7,369,259   $–   $7,369,259 
     Canada   32,198,452    –    –    32,198,452 
     France   –    70,589,314    –    70,589,314 
     Germany   –    19,832,054    –    19,832,054 
     Italy   –    30,619,884    –    30,619,884 
     Japan   –    73,589,791    –    73,589,791 
     Netherlands   –    25,231,035    –    25,231,035 
     Singapore   –    11,879,791    –    11,879,791 
     Spain   –    11,212,499    –    11,212,499 
     Sweden   –    16,385,884    –    16,385,884 
     Switzerland   –    54,547,714    –    54,547,714 
     Taiwan   11,296,683    3,835,648    –    15,132,331 
     United Kingdom   8,045,329    107,512,636    –    115,557,965 
     United States   382,472,865    5,041,860    –    387,514,725 
Total Common Stock   434,013,329    437,647,369    –    871,660,698 
Purchased Options   –    1,026,728    –    1,026,728 
Total Investments, at fair value  $434,013,329   $438,674,097   $–   $872,687,426 
Other Financial Instruments+                    
Futures   132,034    –    –    132,034 
Total Assets  $434,145,363   $438,674,097   $–   $872,819,460 
Liabilities Table                    
Other Financial Instruments+                    
Futures  $(612,614)  $–   $–   $(612,614)
Written Options   –    (5,258,184)   –    (5,258,184)
Total Liabilities  $(612,614)  $(5,258,184)  $–   $(5,870,798)

 

+ 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, 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®  (244)   06/19/15  $(9,545,612)  $65,023 
FTSE 100 Index  (183)   06/19/15   (19,479,481)   67,011 
Nikkei 225 Index  (57)   06/11/15   (4,723,402)   (348,805)
S&P 500 E-Mini  (124)   06/19/15   (13,057,200)   (263,809)
          $(46,805,695)  $(480,580)

 

 
 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of May 31, 2015 (Unaudited) (Continued)

 

At May 31, 2015, 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                     
 4,600   Barclays Bank PLC  Call on Euro Stoxx 50® Index   3,650.304   EUR  07/02/15  $351,051   $(263,498)
 4,700   Citigroup, Inc.  Call on Euro Stoxx 50® Index   3,695.460   EUR  06/05/15   372,469    (38,208)
 4,700   Morgan Stanley  Call on Euro Stoxx 50® Index   3,641.860   EUR  06/19/15   421,124    (198,458)
 2,500   Barclays Bank PLC  Call on FTSE 100 Index   7,056.362   GBP  07/02/15   307,647    (237,872)
 2,500   BNP Paribas Bank  Call on FTSE 100 Index   7,095.016   GBP  06/19/15   284,717    (117,060)
 2,500   Citigroup, Inc.  Call on FTSE 100 Index   7,079.600   GBP  06/05/15   338,734    (52,787)
                              
Number of
Contracts/Notional
Amount		   Counterparty  Description  Exercise
Price		  Expiration
Date		  Premiums
Received		   Fair Value 
 95,900   Citigroup, Inc.  Call on Nikkei 225 Index   19,758.900   JPY  06/19/15  $265,736   $(698,297)
 96,200   Citigroup, Inc.  Call on Nikkei 225 Index   20,147.750   JPY  07/02/15   268,029    (529,171)
 91,100   Morgan Stanley  Call on Nikkei 225 Index   20,022.600   JPY  06/05/15   266,415    (431,221)
 42,700   Barclays Bank PLC  Call on S&P 500 Index   2,139.630   USD  07/02/15   962,898    (623,560)
 42,300   Citigroup, Inc.  Call on S&P 500 Index   2,104.070   USD  06/05/15   1,049,928    (684,810)
 42,500   Morgan Stanley  Call on S&P 500 Index   2,132.080   USD  06/19/15   930,325    (501,701)
Options on Currencies                     
 23,000,000   Goldman Sachs & Co.  Put USD vs. Call EUR   1.116   USD  07/20/15   186,300    (249,328)
 14,000,000   Goldman Sachs & Co.  Put USD vs. Call EUR   1.119   USD  06/22/15   105,000    (69,570)
 19,000,000   Goldman Sachs & Co.  Put USD vs. Call EUR   1.155   USD  08/20/15   152,000    (85,847)
 34,000,000   Goldman Sachs & Co.  Put USD vs. Call GBP   1.537   USD  06/22/15   295,800    (194,925)
 19,000,000   Goldman Sachs & Co.  Put USD vs. Call GBP   1.540   USD  07/20/15   140,600    (168,009)
 30,000,000   JPMorgan Chase & Co.  Put USD vs. Call GBP   1.597   USD  08/20/15   180,000    (66,663)
 17,000,000   Goldman Sachs & Co.  Put USD vs. Call JPY   114.780   USD  07/20/15   86,700    (5,492)
 13,000,000   Goldman Sachs & Co.  Put USD vs. Call JPY   116.250   USD  06/22/15   72,800    (828)
 17,000,000   JPMorgan Chase & Co.  Put USD vs. Call JPY   117.400   USD  08/20/15   102,000    (40,879)
        Total Written OTC Options  $7,140,273   $(5,258,184)

   

 
 

 

  PORTFOLIO OF INVESTMENTS
Voya Global Equity Dividend and Premium Opportunity Fund as of May 31, 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 May 31, 2015 was as follows:

 

   Fair Value 
Derivatives not accounted for as hedging instruments
 
Asset Derivatives  Instrument Type     
Foreign exchange contracts  Purchased options  $1,026,728 
Equity contracts  Futures contracts   132,034 
Total Asset Derivatives     $1,158,762 
         
Liability Derivatives  Instrument Type     
Equity Contracts  Futures contracts  $612,614 
Equity Contracts  Written options   4,376,643 
Foreign exchange contracts  Written options   881,541 
Total Liability Derivatives     $5,870,798 

 

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, 2015:

 

   Barclays Bank PLC   BNP Paribas Bank   Citigroup, Inc.   Goldman Sachs & Co.   JPMorgan Chase & Co.   Morgan Stanley   Totals 
Assets:                                   
Purchased Options  $-   $-   $-   $569,635   $457,093   $-   $1,026,728 
Total Assets  $-   $-   $-   $569,635   $457,093   $-   $1,026,728 
                                    
Liabilities:                                   
Written options  $1,124,930   $117,060   $2,003,273   $773,999   $107,542   $1,131,380   $5,258,184 
Total Liabilities  $1,124,930   $117,060   $2,003,273   $773,999   $107,542   $1,131,380   $5,258,184 
                                    
Net OTC derivative instruments by counterparty, at fair value  $(1,124,930)  $(117,060)  $(2,003,273)  $(204,364)  $349,551   $(1,131,380)   (4,231,456)
                                    
Total collateral pledged by the Fund/(Received from counterparty)  $-   $-   $-   $-   $-   $-   $- 
                                    
Net Exposure(1)  $(1,124,930)  $(117,060)  $(2,003,273)  $(204,364)  $349,551   $(1,131,380)  $(4,231,456)

 

(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 24, 2015  

 

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 24, 2015  
     
By /s/ Todd Modic  
  Todd Modic  
  Senior Vice President and Chief Financial Officer  
     
Date: July 24, 2015