N-Q 1 t1600078_nq.htm FORM N-Q

 

 

 

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: 811-21786

 

Voya Global Advantage 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 Advantage and Premium Opportunity Fund

 

The schedules are not audited.

 

   

 

  

Voya Global Advantage and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

as of November 30, 2015 (Unaudited)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: 96.6%
      Australia: 0.5%          
381,830     Harvey Norman Holdings Ltd.  $1,124,017    0.5 
                 
      Austria: 0.4%          
11,964     Lenzing AG   934,931    0.4 
                 
      Belgium: 0.5%          
30,154     Proximus   994,955    0.5 
                 
      Canada: 2.3%          
121,755  @  Toronto Dominion Bank   4,972,494    2.3 
                 
      Finland: 0.5%          
21,809     Sampo OYJ   1,080,299    0.5 
                 
      France: 3.6%          
42,919     AXA S.A.   1,159,700    0.5 
17,332     BNP Paribas   1,026,135    0.5 
71,091     Vinci S.A.   4,618,145    2.1 
45,044     Vivendi   946,173    0.5 
          7,750,153    3.6 
                 
      Germany: 3.9%          
24,323     Muenchener Rueckversicherungs-Gesellschaft AG   4,890,937    2.2 
49,528     ProSiebenSat.1 Media AG   2,595,489    1.2 
12,359     RTL Group SA   1,074,595    0.5 
          8,561,021    3.9 
                 
      Hong Kong: 3.0%          
464,000     Hang Lung Properties Ltd.   1,087,488    0.5 
4,585,000  #  HK Electric Investments and HK Electric Investments Ltd.   3,652,814    1.7 
1,218,000     SmarTone Telecommunications Holding Ltd.   1,806,278    0.8 
          6,546,580    3.0 
                 
      Italy: 1.0%          
304,782     Intesa Sanpaolo SpA - ISP   1,044,458    0.5 
336,203     Intesa Sanpaolo SpA - ISPR   1,055,637    0.5 
          2,100,095    1.0 
                 
      Japan: 8.5%          
12,500     East Japan Railway Co.   1,180,802    0.5 
90,500     Itochu Corp.   1,102,453    0.5 
119,100     Japan Airlines Co. Ltd.   4,069,586    1.9 
758,200     Resona Holdings, Inc.   3,700,703    1.7 
94,300     Sumitomo Mitsui Financial Group, Inc.   3,599,332    1.6 
17,000     Tadano Ltd.   219,970    0.1 
2,214,000     Ube Industries Ltd   4,709,698    2.2 
          18,582,544    8.5 
Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)
      Malaysia: 0.4%          
411,100     MISC Bhd  $891,993    0.4 
                 
      Mexico: 0.4%          
370,114     Kimberly-Clark de Mexico SA de CV   874,704    0.4 
                 
      Netherlands: 1.1%          
174,477     BinckBank NV   1,525,765    0.7 
35,602     Royal Dutch Shell PLC   885,919    0.4 
          2,411,684    1.1 
                 
      Singapore: 0.5%          
808,900     CapitaMall Trust   1,090,242    0.5 
                 
      South Korea: 0.7%          
1,423     Samsung Electronics Co., Ltd.   1,575,180    0.7 
                 
      Switzerland: 4.8%          
31,880     Actelion Ltd. - Reg   4,472,324    2.0 
10,143     Partners Group   3,662,677    1.7 
3,336     Syngenta AG   1,228,649    0.6 
52,590     UBS Group AG   1,008,811    0.5 
          10,372,461    4.8 
                 
      Taiwan: 1.0%          
97,612  @  Taiwan Semiconductor Manufacturing Co., Ltd. - SP ADR   2,221,649    1.0 
                 
      United Kingdom: 8.9%          
16,654     AstraZeneca PLC   1,130,028    0.5 
147,590     Aviva PLC   1,136,974    0.5 
144,830     Barratt Developments PLC   1,310,118    0.6 
89,298     British American Tobacco PLC   5,196,670    2.4 
86,374     Imperial Tobacco Group PLC   4,665,383    2.2 
263,618     John Wood Group PLC   2,216,148    1.0 
44,000     Persimmon PLC   1,268,295    0.6 
16,095     Shire PLC   1,120,483    0.5 
464,562     Taylor Wimpey PLC   1,360,827    0.6 
          19,404,926    8.9 
                 
      United States: 54.6%          
201,744     AES Corp.   2,015,423    0.9 
3,341     Alphabet, Inc.   2,548,682    1.2 
20,607     Altria Group, Inc.   1,186,963    0.5 
24,054     American Electric Power Co., Inc.   1,347,265    0.6 
75,102     Apple, Inc.   8,884,567    4.1 
29,120     Best Buy Co., Inc.   925,434    0.4 
39,890     CA, Inc.   1,121,308    0.5 
22,426     Campbell Soup Co.   1,171,534    0.5 
42,119     Cisco Systems, Inc.   1,147,743    0.5 
91,842     Citigroup, Inc.   4,967,734    2.3 
14,577     Comcast Corp. – Class A   887,156    0.4 
8,523     CVS Health Corp.   801,929    0.4 
89,307     Delta Airlines, Inc.   4,149,203    1.9 
11,178     Deluxe Corp.   655,590    0.3 
14,154     Dr Pepper Snapple Group, Inc.   1,270,321    0.6 

 

   

 

 

Voya Global Advantage and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

as of November 30, 2015 (Unaudited)(Continued)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)
      United States: (continued)          
11,092     Equifax, Inc.  $1,236,758    0.6 
61,395     Foot Locker, Inc.   3,990,675    1.8 
58,647     Ford Motor Co.   840,411    0.4 
67,319     GameStop Corp.   2,358,185    1.1 
33,576     Gap, Inc.   897,486    0.4 
44,504     General Electric Co.   1,332,450    0.6 
23,969     General Motors Co.   867,678    0.4 
51,432     Gilead Sciences, Inc.   5,449,735    2.5 
23,150     Greenbrier Cos., Inc.   784,322    0.4 
19,711     Harley-Davidson, Inc.   964,262    0.4 
40,080  @  Hewlett Packard Enterprise Co.   595,589    0.3 
23,227     HollyFrontier Corp.   1,116,754    0.5 
49,775     Host Hotels & Resorts, Inc.   826,265    0.4 
40,080     HP, Inc.   502,603    0.2 
44,513  @  Huron Consulting Group, Inc.   2,582,199    1.2 
7,533     International Business Machines Corp.   1,050,251    0.5 
86,337     Intel Corp.   3,001,937    1.4 
10,049     International Flavors & Fragrances, Inc.   1,205,980    0.6 
41,915     Interpublic Group of Cos., Inc.   964,045    0.4 
11,847     Johnson & Johnson   1,199,390    0.6 
30,955     Juniper Networks, Inc.   932,674    0.4 
22,999     Kroger Co.   866,142    0.4 
17,652     Marathon Petroleum Corp.   1,031,053    0.5 
102,053     Merck & Co., Inc.   5,409,830    2.5 
94,348     Metlife, Inc.   4,820,239    2.2 
90,139     Mosaic Co.   2,851,998    1.3 
28,159     National Oilwell Varco, Inc.   1,051,457    0.5 
26,327     NetApp, Inc.   807,186    0.4 
16,292     Omnicom Group, Inc.   1,204,305    0.6 
168,003     Pfizer, Inc.   5,505,458    2.5 
33,897     Philip Morris International, Inc.   2,962,259    1.4 
133,746     PPL Corp.   4,552,714    2.1 
10,272     Qualcomm, Inc.   501,171    0.2 
20,388     Scripps Networks Interactive - Class A   1,158,038    0.5 
26,042     Seagate Technology   935,949    0.4 
20,394     Tesoro Corp.   2,348,777    1.1 
19,124     Torchmark Corp.   1,159,297    0.5 
93,134     Tyco International Plc   3,288,562    1.5 
11,895     United Technologies Corp.   1,142,515    0.5 
26,727     US Bancorp   1,173,048    0.5 
64,656     Valero Energy Corp.   4,646,180    2.1 
75,394     Welltower, Inc.   4,764,147    2.2 
59,932     Western Union Co.   1,130,318    0.5 
          119,091,144    54.6 
                 
   Total Common Stock         
   (Cost $202,225,883)  210,581,072    96.6 
Shares     Value   Percentage
of Net
Assets		 
   Assets in Excess of Other Liabilities   7,364,707    3.4 
   Net Assets  $217,945,779    100.0 

 

# 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.
@ Non-income producing security.
ADR American Depositary Receipt

 

  Cost for federal income tax purposes is $202,225,890.
   
  Net unrealized appreciation consists of:

 

Gross Unrealized Appreciation  $14,564,361 
Gross Unrealized Depreciation   (6,209,179)
      
Net Unrealized Appreciation  $8,355,182 

 

Sector Diversification  Percentage
of Net Assets		 
Financials   22.8%
Industrials   12.5 
Information Technology   12.3 
Health Care   11.1 
Consumer Discretionary   10.8 
Consumer Staples   8.8 
Energy   6.1 
Utilities   5.3 
Materials   5.1 
Telecommunication Services   1.8 
Assets in Excess of Other Liabilities   3.4 
Net Assets   100.0%

 

   

 

 

Voya Global Advantage and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

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                    
Australia  $–   $1,124,017   $–   $1,124,017 
Austria   –    934,931    –    934,931 
Belgium   –    994,955    –    994,955 
Canada   4,972,494    –    –    4,972,494 
Finland   –    1,080,299    –    1,080,299 
France   –    7,750,153    –    7,750,153 
Germany   –    8,561,021    –    8,561,021 
Hong Kong   –    6,546,580    –    6,546,580 
Italy   –    2,100,095    –    2,100,095 
Japan   –    18,582,544    –    18,582,544 
Malaysia   –    891,993    –    891,993 
Mexico   874,704    –    –    874,704 
Netherlands   –    2,411,684    –    2,411,684 
Singapore   –    1,090,242    –    1,090,242 
South Korea   –    1,575,180    –    1,575,180 
Switzerland   –    10,372,461    –    10,372,461 
Taiwan   2,221,649    –    –    2,221,649 
United Kingdom   –    19,404,926    –    19,404,926 
United States   119,091,144    –    –    119,091,144 
Total Common Stock   127,159,991    83,421,081    –    210,581,072 
Total Investments, at fair value  $127,159,991   $83,421,081   $–   $210,581,072 
Other Financial Instruments+                    
Forward Foreign Currency Contracts   –    287,790    –    287,790 
Futures   7,218    –    –    7,218 
Total Assets  $127,167,209   $83,708,871   $–   $210,876,080 
Liabilities Table                    
Other Financial Instruments+                    
Forward Foreign Currency Contracts  $–   $(1)  $–   $(1)
Futures   (167,061)   –    –    (167,061)
Written Options   –    (1,616,273)   –    (1,616,273)
Total Liabilities  $(167,061)  $(1,616,274)  $–   $(1,783,335)

 

+ 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 forward foreign currency contracts were outstanding for Voya Global Advantage and Premium Opportunity Fund:

 

Counterparty  Currency  Contract Amount   Buy/Sell  Settlement Date  In Exchange For   Fair Value   Unrealized
Appreciation
(Depreciation)		 
                          
Barclays Bank PLC  Hong Kong Sar Dollar   51,231,125   Sell  12/30/15  $6,610,901   $6,608,393   $2,508 
The Royal Bank of Scotland PLC  Swiss Franc   10,602,970   Sell  12/30/15   10,362,670    10,331,994    30,676 
The Royal Bank of Scotland PLC  Japanese Yen   2,333,847,732   Sell  12/30/15   19,049,672    18,981,921    67,751 
The Royal Bank of Scotland PLC  British Pound   12,970,430   Sell  12/30/15   19,606,452    19,537,958    68,494 
The Royal Bank of Scotland PLC  EU Euro   22,448,889   Sell  12/30/15   23,840,922    23,742,643    98,279 

 

   

 

 

Voya Global Advantage and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

as of November 30, 2015 (Unaudited)(Continued)

 

Counterparty  Currency  Contract Amount   Buy/Sell  Settlement Date  In Exchange For   Fair Value   Unrealized
Appreciation
(Depreciation)		 
BNP Paribas Bank  Canadian Dollar   6,614,949   Sell  12/30/15  $4,973,362   $4,953,280   $20,082 
The Royal Bank of Scotland PLC  EU Euro   12,031   Sell  12/30/15   12,724    12,725    (1)
                           $287,789 

 

At November 30, 2015, the following futures contracts were outstanding for Voya Global Advantage and Premium Opportunity Fund:

 

Contract Description  Number
of Contracts		  Expiration
Date		  Notional
Value		   Unrealized
Appreciation/
(Depreciation)		 
Short Contracts                
EURO STOXX 50®  (43)  12/18/15  $(1,592,374)  $876 
FTSE 100 Index  (17)  12/18/15   (1,626,467)   6,342 
Nikkei 225 Index  (25)  12/10/15   (2,007,514)   (84,859)
S&P 500 E-Mini  (18)  12/18/15   (1,871,820)   (82,202)
         $(7,098,175)  $(159,843)

 

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

 

Number of Contracts   Counterparty  Description  Exercise
Price		  Expiration
Date		  Premiums
Received		   Fair Value 
Options on Indices                        
 1,200   BNP Paribas Bank  Call on EURO STOXX 50® Index   3,326.830   EUR  12/04/15  $88,845   $(231,355)
 1,200   BNP Paribas Bank  Call on EURO STOXX 50® Index   3,525.675   EUR  12/18/15   76,355    (78,397)
 1,200   Morgan Stanley  Call on EURO STOXX 50® Index   3,510.840   EUR  01/08/16   81,787    (117,283)
 700   Barclays Bank PLC  Call on FTSE 100 Index   6,408.288   GBP  01/18/16   97,652    (105,158)
 700   BNP Paribas Bank  Call on FTSE 100 Index   6,414.876   GBP  12/18/15   79,558    (66,501)
 700   BNP Paribas Bank  Call on FTSE 100 Index   6,431.292   GBP  12/04/15   95,976    (18,868)
 23,400   BNP Paribas Bank  Call on Nikkei 225 Index   19,606.130   JPY  12/18/15   66,912    (80,372)
 22,500   Citigroup, Inc.  Call on Nikkei 225 Index   20,258.200   JPY  01/08/16   64,485    (45,528)
 25,500   Morgan Stanley  Call on Nikkei 225 Index   18,755.280   JPY  12/04/15   90,111    (207,408)
 10,000   Citigroup, Inc.  Call on S&P 500 Index   2,117.360   USD  12/18/15   234,332    (102,140)
 10,100   Citigroup, Inc.  Call on S&P 500 Index   2,119.160   USD  01/08/16   272,697    (180,418)
 10,400   Morgan Stanley  Call on S&P 500 Index   2,047.010   USD  12/04/15   279,234    (382,845)
        Total Written OTC Options  $1,527,944   $(1,616,273)

 

   

 

 

Voya Global Advantage and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

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  Forward foreign currency contracts  $287,790 
Equity contracts  Futures contracts   7,218 
Total Asset Derivatives     $295,008 
         
Liability Derivatives  Instrument Type     
Foreign exchange contracts  Forward foreign currency contracts  $1 
Equity contracts  Futures contracts   167,061 
Equity contracts  Written options   1,616,273 
Total Liability Derivatives     $1,783,335 

 

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.   Morgan Stanley   The Royal Bank of Scotland Group PLC   Totals 
Assets:                              
Forward foreign currency contracts  $2,508   $20,082   $-   $-   $265,200   $287,790 
Total Assets  $2,508   $20,082   $-   $-   $265,200   $287,790 
                               
Liabilities:                              
Forward foreign currency contracts  $-   $-   $-   $-   $1   $1 
Written options   105,158    475,493    328,086    707,536    -    1,616,273 
Total Liabilities  $105,158   $475,493   $328,086   $707,536   $1   $1,616,274 
                               
Net OTC derivative instruments by counterparty, at fair value  $(102,650)  $(455,411)  $(328,086)  $(707,536)  $265,199    (1,328,484)
                               
Total collateral pledged by the Fund/(Received from counterparty)  $180,000   $(610,000)  $-   $820,000   $(720,000)  $(330,000)
                               
Net Exposure(1)  $77,350   $(1,065,411)  $(328,086)  $112,464   $(454,801)  $(1,658,484)

 

(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 Advantage 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