N-Q 1 t1700064_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, 2016

 

 

 

 

 

 

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, 2016 (Unaudited)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: 99.9%         
      Australia: 2.4%          
362,121     BHP Billiton Ltd.  $6,767,976    2.4 
                 
      China: 3.5%          
95,600     China Mobile Ltd-SPON ADR   5,228,364    1.9 
3,278,000     China Railway Construction Corp. Ltd.   4,652,138    1.6 
          9,880,502    3.5 
                 
      Denmark: 1.1%          
2,352     AP Moller - Maersk A/S - Class B   3,107,026    1.1 
                 
      France: 6.7%          
39,154     Air Liquide SA   3,989,454    1.4 
136,791  @  Alstom SA   3,700,213    1.3 
262,527     Orange SA   3,823,004    1.4 
56,981     Schneider Electric SE   3,782,209    1.3 
269,318     Suez   3,754,764    1.3 
          19,049,644    6.7 
                 
      Germany: 5.7%          
59,585     BASF SE   5,148,737    1.8 
214,472     Deutsche Telekom AG   3,375,205    1.2 
67,585     Siemens AG   7,618,437    2.7 
          16,142,379    5.7 
                 
      India: 3.2%          
175,201     Larsen & Toubro Ltd.   3,531,232    1.3 
1,959,337     Power Grid Corp. of India Ltd.   5,486,198    1.9 
          9,017,430    3.2 
                 
      Indonesia: 1.2%          
2,164,100     United Tractors Tbk PT   3,345,288    1.2 
                 
      Italy: 1.6%          
1,151,086     Enel S.p.A.   4,647,697    1.6 
                 
      Japan: 12.0%          
781,000     Hitachi Ltd.   4,247,949    1.5 
245,500     LIXIL Group Corp.   5,523,804    1.9 
281,700     JSR Corp.   4,116,692    1.5 
257,000     Komatsu Ltd.   6,045,623    2.1 
194,000     Mitsubishi Corp.   4,244,518    1.5 
126,200     NTT DoCoMo, Inc.   2,889,571    1.0 
65,900     Shin-Etsu Chemical Co., Ltd.   4,939,124    1.7 
201,800     Sumco Corp.   2,266,299    0.8 
          34,273,580    12.0 
                 
      Netherlands: 5.2%          
88,067     Airbus Group SE   5,615,187    2.0 
54,495     Koninklijke DSM NV   3,308,765    1.2 
134,846     Koninklijke Philips NV   3,870,843    1.3 
85,938  #,@  Philips Lighting NV   1,967,358    0.7 
          14,762,153    5.2 
                 
      South Korea: 1.0%          
14,870     SK Telecom Co., Ltd.   2,869,269    1.0 

Shares  Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)         
      Spain: 1.1%          
188,366     Gas Natural SDG S.A.   3,219,212    1.1 
                 
      Sweden: 2.3%          
179,749     SKF AB - B Shares   3,234,350    1.1 
313,251     Volvo AB - B Shares   3,349,464    1.2 
          6,583,814    2.3 
                 
      Taiwan: 1.4%          
135,413     Taiwan Semiconductor Manufacturing Co., Ltd. ADR   4,020,412    1.4 
                 
      United Kingdom: 1.1%          
373,604     CNH Industrial NV   3,185,395    1.1 
                 
      United States: 50.4%          
14,489     Acuity Brands, Inc.   3,642,679    1.3 
2,370  @  AdvanSix, Inc.   44,319    0.0 
61,860     Albemarle Corp.   5,430,071    1.9 
51,130     American Electric Power Co., Inc.   3,019,226    1.1 
130,288     AT&T, Inc.   5,033,025    1.8 
43,014     Cummins, Inc.   6,098,525    2.1 
52,220     Deere & Co.   5,232,444    1.8 
110,711     Dow Chemical Co.   6,168,817    2.2 
38,370     DTE Energy Co.   3,571,863    1.3 
161,221     Exelon Corp.   5,241,295    1.8 
50,148     General Dynamics Corp.   8,793,452    3.1 
245,332     General Electric Co.   7,546,412    2.7 
59,256     Honeywell International, Inc.   6,751,629    2.4 
53,049     JB Hunt Transport Services, Inc.   5,059,283    1.8 
28,906     L-3 Communications Holdings, Inc.   4,560,500    1.6 
69,295     Lincoln Electric Holdings, Inc.   5,440,350    1.9 
19,700     Lockheed Martin Corp.   5,225,425    1.8 
46,584     NextEra Energy, Inc.   5,321,290    1.9 
58,988     Nucor Corp.   3,668,464    1.3 
83,899     PG&E Corp.   4,933,261    1.7 
62,706     Packaging Corp. of America   5,314,961    1.9 
31,084     Parker Hannifin Corp.   4,318,500    1.5 
132,238     Plains GP Holdings L.P.   4,649,488    1.6 
31,503     Roper Technologies, Inc.   5,705,508    2.0 
44,360     Schlumberger Ltd.   3,728,458    1.3 
21,920     Snap-On, Inc.   3,665,024    1.3 
129,414     Steel Dynamics, Inc.   4,591,609    1.6 
74,701     Valero Energy Corp.   4,598,594    1.6 
47,915     Vulcan Materials Co.   6,020,520    2.1 
          143,374,992    50.4 
                 
   Total Common Stock          
   (Cost $250,460,815)   284,246,769    99.9 

 

 

  

Voya Infrastructure, Industrials and Materials Fund PORTFOLIO OF INVESTMENTS
as of November 30, 2016 (Unaudited) (Continued)

 

Shares     Value   Percentage
of Net
Assets		 
SHORT-TERM INVESTMENTS: 0.6%       
      Mutual Funds: 0.6%          
1,708,000     BlackRock Liquidity Funds, FedFund, Institutional Class, 0.310%          
      (Cost $1,708,000)   1,708,000    0.6 
                 
   Total Short-Term Investments          
   (Cost $1,708,000)   1,708,000    0.6 
                 
   Total Investments in Securities
(Cost $252,168,815)		  $285,954,769    100.5 
   Liabilities in Excess of Other Assets   (1,509,742)   (0.0)
   Net Assets  $284,445,027    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 $252,972,530.
   
  Net unrealized appreciation consists of:

 

Gross Unrealized Appreciation  $45,982,009 
Gross Unrealized Depreciation   (12,999,770)
      
Net Unrealized Appreciation  $32,982,239 

  

Industry Diversification  Percentage
of Net Assets		 
Machinery   13.8%
Chemicals   11.7 
Aerospace & Defense   9.3 
Electric Utilities   7.2 
Industrial Conglomerates   6.7 
Electrical Equipment   6.6 
Diversified Telecommunication Services   4.4 
Industrials   4.2 
Building Materials   4.0 
Metals & Mining   4.0 
Multi-Utilities   3.0 
Construction & Engineering   2.9 
Wireless Telecommunication Services   2.9 
Paper Packaging   1.9 
Road & Rail   1.8 
Pipelines   1.6 
Oil & Gas Refining & Marketing   1.6 
Electronic Equipment, Instruments & Components   1.5 
Trading Companies & Distributors   1.5 
Information Technology   1.4 
Oil & Gas Equipment & Services   1.3 
Materials   1.3 
Electric   1.3 
Gas Utilities   1.1 
Utilities   1.1 
Telecommunication Services   1.0 
Semiconductors   0.8 
Short-Term Investments   0.6 
Liabilities in Excess of Other Assets   (0.5)
Net Assets   100.0%

 

 

 

 

Voya Infrastructure, Industrials and Materials Fund PORTFOLIO OF INVESTMENTS
as of November 30, 2016 (Unaudited) (Continued)

 

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                    
Australia  $–   $6,767,976   $–   $6,767,976 
China   5,228,364    4,652,138    –    9,880,502 
Denmark   –    3,107,026    –    3,107,026 
France   –    19,049,644    –    19,049,644 
Germany   –    16,142,379    –    16,142,379 
India   –    9,017,430    –    9,017,430 
Indonesia   –    3,345,288    –    3,345,288 
Italy   –    4,647,697    –    4,647,697 
Japan   –    34,273,580    –    34,273,580 
Netherlands   1,967,358    12,794,795    –    14,762,153 
South Korea   –    2,869,269    –    2,869,269 
Spain   –    3,219,212    –    3,219,212 
Sweden   –    6,583,814    –    6,583,814 
Taiwan   4,020,412    –    –    4,020,412 
United Kingdom   –    3,185,395    –    3,185,395 
United States   143,374,992    –    –    143,374,992 
Total Common Stock   154,591,126    129,655,643    –    284,246,769 
Short-Term Investments   1,708,000    –    –    1,708,000 
Total Investments, at fair value  $156,299,126   $129,655,643   $–   $285,954,769 
Liabilities Table                    
Other Financial Instruments+                    
Written Options  $–   $(2,003,096)  $–   $(2,003,096)
Total Liabilities  $–   $(2,003,096)  $–   $(2,003,096)

  

+ 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, 2016, 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                        
 591,324   Morgan Stanley & Co. International PLC  Call on Industrial Select Sector SPDR® Fund   61.320    USD  12/15/16  $558,404   $(783,470)
 689,897   UBS AG  Call on iShares MSCI EAFE ETF   56.820    USD  12/15/16   533,153    (486,050)
 225,612   Morgan Stanley & Co. International PLC  Call on iShares MSCI Emerging Markets ETF   34.750    USD  12/15/16   175,616    (238,810)
 303,782   Morgan Stanley & Co. International PLC  Call on Materials Select Sector SPDR® Fund   48.390    USD  12/15/16   254,310    (494,766)
        Total Written OTC Options  $1,521,483   $(2,003,096)

 

 

 

  

Voya Infrastructure, Industrials and Materials 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 
         
Liability Derivatives  Instrument Type     
         
Equity contracts  Written options  $2,003,096 
Total Liability Derivatives     $2,003,096 

 

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:

 

   Morgan Stanley & Co. International PLC   UBS AG   Totals 
Liabilities:            
Written options  $1,517,046   $486,050   $2,003,096 
Total Liabilities  $1,517,046   $486,050   $2,003,096 
                
Net OTC derivative instruments by counterparty, at fair value  $(1,517,046)  $(486,050)   (2,003,096)
                
Total collateral pledged by the Fund/(Received from counterparty)  $-   $-   $- 
                
Net Exposure(1)  $(1,517,046)  $(486,050)  $(2,003,096)

 

(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 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