N-Q 1 t1600082_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: 811-22144

 

Voya Infrastructure, Industrials and Materials 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 Infrastructure, Industrials and Materials Fund

 

The schedules are not audited.

 

 

 

 

Voya Infrastructure, Industrials and Materials Fund PORTFOLIO OF INVESTMENTS
as of November 30, 2015 (Unaudited)

 

Shares        Value   Percentage
of Net
Assets
 
COMMON STOCK: 97.2%
      Australia: 1.6%          
362,121     BHP Billiton Ltd.  $4,815,158    1.6 
                 
      Brazil: 1.4%          
131,093  @  Embraer SA ADR   4,101,900    1.4 
                 
      China: 3.3%          
95,600  @  China Mobile Ltd. ADR   5,494,132    1.8 
3,278,000     China Railway Construction Corp. Ltd.   4,344,058    1.5 
          9,838,190    3.3 
                 
      France: 6.1%          
40,224     Air Liquide SA   4,904,319    1.6 
134,446     Alstom SA   4,175,790    1.4 
237,808     Orange SA   4,105,660    1.4 
262,895     Suez Environnement S.A.   4,980,407    1.7 
          18,166,176    6.1 
                 
      Germany: 4.4%          
59,585     BASF SE   4,917,865    1.7 
78,747     Siemens AG   8,180,177    2.7 
          13,098,042    4.4 
                 
      India: 2.3%          
139,123     Larsen & Toubro Ltd.   2,873,760    1.0 
1,959,337     Power Grid Corp. of India Ltd.   4,002,256    1.3 
          6,876,016    2.3 
                 
      Indonesia: 0.8%          
2,164,100     United Tractors Tbk PT   2,543,094    0.8 
                 
      Israel: 1.4%          
1,985,576     Bezeq Israeli Telecommunication Corp., Ltd.   4,268,733    1.4 
                 
      Italy: 1.9%          
1,276,360     Enel S.p.A.   5,621,719    1.9 
                 
      Japan: 9.8%          
828,000     Hitachi Ltd.   4,885,365    1.6 
206,400     LIXIL Group Corp.   4,823,576    1.6 
281,700     JSR Corp.   4,432,351    1.5 
281,300     Komatsu Ltd.   4,659,053    1.6 
179,000     Mitsubishi Corp.   3,011,283    1.0 
78,400     Shin-Etsu Chemical Co., Ltd.   4,434,451    1.5 
287,400     Sumco Corp.   3,049,786    1.0 
          29,295,865    9.8 
                 
      Netherlands: 4.9%          
76,279     Airbus Group SE   5,506,363    1.8 
83,930     Koninklijke DSM NV   4,266,793    1.4 
183,932     Koninklijke Philips NV   5,018,197    1.7 
          14,791,353    4.9 
                 
      South Africa: 0.9%          
279,375     Vodacom Group Pty Ltd.   2,818,208    0.9 
Shares        Value   Percentage
of Net
Assets
 
COMMON STOCK: (continued)
      South Korea: 1.2%          
17,869    SK Telecom Co., Ltd.  $3,604,354    1.2 
                 
      Spain: 1.4%          
188,366     Gas Natural SDG S.A.   4,070,631    1.4 
                 
      Sweden: 2.6%          
202,892     SKF AB - B Shares   3,532,694    1.2 
406,607     Volvo AB - B Shares   4,197,375    1.4 
          7,730,069    2.6 
                 
      Switzerland: 1.4%          
73,946     Wolseley PLC   4,292,931    1.4 
                 
      United Kingdom: 1.1%          
433,304     CNH Industrial NV   3,184,223    1.1 
                 
      United States: 50.7%          
17,942     Acuity Brands, Inc.   4,142,449    1.4 
69,800     Albemarle Corp.   3,738,488    1.3 
82,808     American Electric Power Co., Inc.   4,638,076    1.6 
109,728     AT&T, Inc.   3,694,542    1.2 
33,483     Boeing Co.   4,870,102    1.6 
44,829     Deere & Co.   3,567,044    1.2 
136,673     Dow Chemical Co.   7,124,764    2.4 
44,737     DTE Energy Co.   3,600,881    1.2 
50,470     General Dynamics Corp.   7,391,836    2.5 
475,788     General Electric Co.   14,245,093    4.8 
118,715     Halliburton Co.   4,730,793    1.6 
71,132     Honeywell International, Inc.   7,394,171    2.5 
46,007     International Paper Co.   1,924,473    0.7 
30,100     Kansas City Southern   2,736,692    0.9 
53,800     Lincoln Electric Holdings, Inc.   3,037,010    1.0 
34,091     Lockheed Martin Corp.   7,471,384    2.5 
69,597     Mosaic Co.   2,202,049    0.7 
498,520     Mueller Water Products, Inc.   4,646,206    1.6 
66,900     Old Dominion Freight Line   4,262,199    1.4 
66,987     PG&E Corp.   3,532,225    1.2 
44,000     Packaging Corp. of America   2,991,560    1.0 
169,400     Patterson-UTI Energy, Inc.   2,747,668    0.9 
43,568     Pinnacle West Capital Corp.   2,760,468    0.9 
82,491     PPL Corp.   2,807,994    0.9 
31,503     Roper Technologies, Inc.   6,095,515    2.0 
43,305     Sempra Energy   4,297,155    1.4 
102,342     Steel Dynamics, Inc.   1,779,727    0.6 
65,600     TE Connectivity Ltd.   4,401,104    1.5 
129,100     Textron, Inc.   5,508,697    1.8 
19,566     TransDigm Group, Inc.   4,590,771    1.5 
77,800     Union Pacific Corp.   6,531,310    2.2 
45,476     Valero Energy Corp.   3,267,905    1.1 

 

 

 

Voya Infrastructure, Industrials and Materials Fund PORTFOLIO OF INVESTMENTS
as of November 30, 2015 (Unaudited) (Continued)

  

Shares        Value   Percentage
of Net
Assets
 
COMMON STOCK: (continued)                
      United States: (continued) 
47,270    Vulcan Materials Co.  $4,853,211    1.6 
          151,583,562    50.7 
                 
   Total Common Stock          
   (Cost $267,523,486)   290,700,224    97.2 
                 
PREFERRED STOCK: 0.4%          
      Brazil: 0.4%          
751,578     Cia Energetica de Minas Gerais   1,282,092    0.4 
                 
   Total Preferred Stock          
   (Cost $4,300,896)   1,282,092    0.4 
                 
   Total Long-Term Investments          
   (Cost $271,824,382)   291,982,316    97.6 
                 
SHORT-TERM INVESTMENTS: 2.5%
      Mutual Funds: 2.5%          
7,415,000     BlackRock Liquidity Funds, TempFund, Institutional Class, 0.130%††          
      (Cost $7,415,000)   7,415,000    2.5 
                 
   Total Short-Term Investments          
   (Cost $7,415,000)   7,415,000    2.5 
                 
   Total Investments in Securities
(Cost $279,239,382)
  $299,397,316    100.1 
   Liabilities in Excess of Other Assets   (164,386)   (0.1)
   Net Assets  $299,232,930    100.0 

 

 

†† Rate shown is the 7-day yield as of November 30, 2015.
@ Non-income producing security.
 ADR American Depositary Receipt

 

 

Cost for federal income tax purposes is $279,923,815.

 

Net unrealized appreciation consists of:

 

Gross Unrealized Appreciation  $43,928,603 
Gross Unrealized Depreciation   (24,455,102)
      
Net Unrealized Appreciation  $19,473,501 

 

 

 

Industry Diversification  Percentage
of Net Assets
 
Industrials   12.3%
Materials   12.1 
Aerospace & Defense   10.8 
Machinery   8.3 
Industrial Conglomerates   7.5 
Utilities   7.4 
Telecommunications   6.7 
Electrical Equipment   4.8 
Road & Rail   4.5 
Electric   2.5 
Construction & Engineering   2.5 
Electric Utilities   2.3 
Multi-Utilities   1.7%
Building Materials   1.6 
Oil & Gas Equipment & Services   1.6 
Chemicals   1.5 
Electronic Equipment, Instruments & Components   1.5 
Trading Companies & Distributors   1.4 
Telecommunication Services   1.2 
Oil & Gas Refining & Marketing   1.1 
Semiconductors   1.0 
Paper Packaging   1.0 
Oil & Gas Drilling   0.9 
Fertilizers & Agricultural Chemicals   0.7 
Paper Products   0.7 
Short-Term Investments   2.5 
Liabilities in Excess of Other Assets   (0.1)
Net Assets   100.0%

 

 

 

Voya Infrastructure, Industrials and Materials 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  $   $4,815,158   $   $4,815,158 
Brazil   4,101,900            4,101,900 
China   5,494,132    4,344,058        9,838,190 
France       18,166,176        18,166,176 
Germany       13,098,042        13,098,042 
India       6,876,016        6,876,016 
Indonesia       2,543,094        2,543,094 
Israel       4,268,733        4,268,733 
Italy       5,621,719        5,621,719 
Japan       29,295,865        29,295,865 
Netherlands       14,791,353        14,791,353 
South Africa       2,818,208        2,818,208 
South Korea       3,604,354        3,604,354 
Spain       4,070,631        4,070,631 
Sweden       7,730,069        7,730,069 
Switzerland       4,292,931        4,292,931 
United Kingdom       3,184,223        3,184,223 
United States   151,583,562            151,583,562 
Total Common Stock   161,179,594    129,520,630        290,700,224 
Preferred Stock   1,282,092            1,282,092 
Short-Term Investments   7,415,000            7,415,000 
Total Investments, at fair value  $169,876,686   $129,520,630   $   $299,397,316 
Liabilities Table                    
Other Financial Instruments+                    
Written Options  $   $(854,777)  $   $(854,777)
Total Liabilities  $   $(854,777)  $   $(854,777)

 

 

+ 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 over-the-counter written options were outstanding for Voya Infrastructure, Industrials and Materials Fund:

 

Number of
Contracts
    Counterparty   Description   Exercise
Price
  Expiration
Date
  Premiums
Received
    Fair Value  
Options on Indices
  668,724     Merrill Lynch   Call on Industrial Select Sector SPDR® Fund     55.090   USD   12/17/15   $ 607,870     $ (342,463 )
  771,045     JPMorgan Chase & Co.   Call on iShares MSCI EAFE ETF     61.060   USD   12/17/15     720,310       (246,667 )
  146,103     JPMorgan Chase & Co.   Call on iShares MSCI Emerging Markets ETF     34.770   USD   12/17/15     114,808       (51,249 )
  325,378     Merrill Lynch   Call on Materials Select Sector SPDR® Fund     45.670   USD   12/17/15     289,782       (214,398 )
            Total Written OTC Options   $ 1,732,770     $ (854,777 )

 

 

 

 

Voya Infrastructure, Industrials and Materials 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:

 

   Instrument Type  Fair Value 
Derivatives not accounted for as hedging instruments
         
Liability Derivatives        
         
Equity contracts  Written options  $854,777 
Total Liability Derivatives     $854,777 

 

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:

 

   JPMorgan Chase & Co.   Merrill Lynch   Totals 
Liabilities:            
Written options  $297,916   $556,861   $854,777 
Total Liabilities  $297,916   $556,861   $854,777 
                
Net OTC derivative instruments by counterparty, at fair value  $(297,916)  $(556,861)   (854,777)
                
Total collateral pledged by the Fund/(Received from counterparty)  $-   $-   $- 
                
Net Exposure(1)  $(297,916)  $(556,861)  $(854,777)

 

(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 Infrastructure, Industrials and Materials 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