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: May 31, 2018

 

 

 

 

 

 

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 May 31, 2018 (Unaudited)

  

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: 95.4%         
       Australia: 4.6%          
848,715      Charter Hall Group  $4,077,933    1.9 
89,344      Crown Resorts Ltd.   896,353    0.4 
62,451      Rio Tinto Ltd.   3,898,955    1.8 
420,544      South32 Ltd.   1,179,094    0.5 
           10,052,335    4.6 
                  
       Austria: 2.8%          
48,041      Erste Group Bank AG   1,989,550    0.9 
73,722      OMV AG   4,224,257    1.9 
           6,213,807    2.8 
                  
       Canada: 3.4%          
20,926      Bank of Nova Scotia   1,262,726    0.6 
68,915      Lundin Mining Corp.   432,114    0.2 
7,923      Methanex Corp.   541,277    0.2 
50,738      National Bank Of Canada   2,426,940    1.1 
69,952      Suncor Energy, Inc.   2,785,995    1.3 
           7,449,052    3.4 
                  
       Denmark: 0.5%          
31,948      Danske Bank A/S   1,059,986    0.5 
                  
       Finland: 0.5%          
19,300   (1)  DNA Oyj   454,381    0.2 
7,188      Neste Oyj   587,401    0.3 
           1,041,782    0.5 
                  
       France: 0.2%          
17,361      AXA S.A.   434,986    0.2 
                  
       Germany: 0.8%          
16,711      Evonik Industries AG   586,251    0.3 
10,764      LEG Immobilien AG   1,179,841    0.5 
           1,766,092    0.8 
                  
       Hong Kong: 2.2%          
316,051      CLP Holdings Ltd.   3,318,414    1.5 
194,356      Hang Lung Properties Ltd.   440,086    0.2 
1,121,500   (2)  WH Group Ltd.   1,149,004    0.5 
           4,907,504    2.2 
                  
       Italy: 0.5%          
180,821      Enel S.p.A.   993,756    0.5 
                  
       Japan: 9.8%          
77,100      Canon, Inc.   2,629,070    1.2 
109,700      Itochu Corp.   2,052,682    0.9 
11,600      Japan Airlines Co. Ltd.   448,577    0.2 
118,000      Kajima Corp.   960,128    0.4 
89,100      Nippon Telegraph & Telephone Corp.   4,162,476    1.9 
190,500      Obayashi Corp.   1,916,636    0.9 
45,600      Ono Pharmaceutical Co., Ltd.   1,126,428    0.5 
75,800      Resona Holdings, Inc.   421,111    0.2 
10,100      Sumitomo Mitsui Financial Group, Inc.   416,396    0.2 
78,800      Taisei Corp.   4,317,387    2.0 
23,100      Terumo Corp.   1,366,928    0.6 

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)          
       Japan: (continued)          
27,500      Toyota Motor Corp.  $1,744,246    0.8 
           21,562,065    9.8 
                  
       Netherlands: 5.4%          
14,326   (2)  ABN AMRO Group NV   371,606    0.2 
71,644   (1)  ASR Nederland NV   3,029,300    1.4 
65,929      ING Groep NV   960,232    0.4 
44,815      Koninklijke DSM NV   4,464,908    2.0 
111,632      Koninklijke Ahold Delhaize NV   2,564,494    1.2 
19,419   (2)  Signify NV   553,445    0.2 
           11,943,985    5.4 
                  
       Norway: 2.2%          
113,895      Marine Harvest   2,278,688    1.0 
199,444      Norsk Hydro ASA   1,255,136    0.6 
33,225      Equinor ASA   873,408    0.4 
20,114      Telenor ASA   414,326    0.2 
           4,821,558    2.2 
                  
       Singapore: 2.3%          
243,300      United Overseas Bank Ltd.   5,091,648    2.3 
                  
       Sweden: 1.0%          
64,229      Boliden AB   2,264,974    1.0 
64,229   (1)  Boliden AB- Redemption Shares   41,739    0.0 
           2,306,713    1.0 
                  
       Switzerland: 0.9%          
2,124      Partners Group   1,535,083    0.7 
1,361      Zurich Insurance Group AG   403,350    0.2 
           1,938,433    0.9 
                  
       United Kingdom: 4.6%          
114,677      Barratt Developments PLC   831,029    0.4 
9,990      Berkeley Group Holdings PLC   563,429    0.3 
19,065      Imperial Brands PLC   686,088    0.3 
118,122      Legal & General Group PLC   423,083    0.2 
25,396      National Grid PLC   280,294    0.1 
13,977      Persimmon PLC   525,903    0.2 
26,679      Rio Tinto PLC   1,504,724    0.7 
165,907      SSE PLC   3,013,789    1.4 
168,067      Tate & Lyle PLC   1,537,054    0.7 
296,283      Taylor Wimpey PLC   748,097    0.3 
           10,113,490    4.6 
                  
       United States: 53.7%          
54,825      AbbVie, Inc.   5,424,385    2.5 
40,116      Aflac, Inc.   1,807,627    0.8 
5,173   (1)  Alphabet, Inc. - Class A   5,690,300    2.6 
1,669   (1)  Alphabet, Inc. - Class C   1,810,848    0.8 
7,170      Ameriprise Financial, Inc.   993,977    0.4 
2,190      Anthem, Inc.   484,910    0.2 
29,099   (3)  Apollo Global Management LLC   911,381    0.4 
12,754      Apple, Inc.   2,383,340    1.1 

 

 

 

Voya Global Advantage and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2018 (Unaudited)(Continued)

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)
       United States: (continued)          
84,322      Archer-Daniels-Midland Co.  $3,686,558    1.7 
75,697      Bank of America Corp.   2,198,241    1.0 
956   (1)  Booking Holdings, Inc.   2,016,128    0.9 
13,448      Carnival Corp.   837,541    0.4 
7,727      CBS Corp. - Class B   389,209    0.2 
10,280      Cigna Corp.   1,741,124    0.8 
8,532      CIT Group, Inc.   426,003    0.2 
23,435      Citigroup, Inc.   1,562,880    0.7 
11,207      Comcast Corp. – Class A   349,434    0.2 
12,518      Conagra Brands, Inc.   463,917    0.2 
89,353      ConocoPhillips   6,021,499    2.7 
28,718      Cummins, Inc.   4,089,156    1.9 
42,211      CVS Health Corp.   2,675,755    1.2 
25,994      Deluxe Corp.   1,729,641    0.8 
35,603      Discover Financial Services   2,629,638    1.2 
48,951   (1)  Dollar Tree, Inc.   4,042,863    1.8 
57,575      Eaton Corp. PLC   4,409,093    2.0 
11,230      Exelon Corp.   464,810    0.2 
5,279   (1)  F5 Networks, Inc.   913,848    0.4 
31,162      FNF Group   1,151,748    0.5 
8,291      Garmin Ltd.   498,206    0.2 
3,582      Humana, Inc.   1,042,290    0.5 
102,935      Intel Corp.   5,682,012    2.6 
32,211      Interpublic Group of Cos., Inc.   727,969    0.3 
22,371      Keycorp   434,892    0.2 
36,092      KLA-Tencor Corp.   4,086,697    1.9 
4,035      Lam Research Corp.   799,656    0.4 
36,057      Las Vegas Sands Corp.   2,906,555    1.3 
4,765      Lear Corp.   943,470    0.4 
5,867      Lincoln National Corp.   388,923    0.2 
8,162   (1)  Micron Technology, Inc.   470,050    0.2 
99,197      Microsoft Corp.   9,804,632    4.5 
30,805      Occidental Petroleum Corp.   2,593,781    1.2 
82,242      Pfizer, Inc.   2,954,955    1.3 
29,488      PNC Financial Services Group, Inc.   4,228,874    1.9 
48,066      Principal Financial Group, Inc.   2,682,083    1.2 
19,691      Prudential Financial, Inc.   1,906,876    0.9 
9,470      Public Service Enterprise Group, Inc.   501,721    0.2 
3,474      PVH Corp.   555,840    0.3 
10,814      Quest Diagnostics, Inc.   1,152,015    0.5 
3,519      Royal Caribbean Cruises Ltd.   369,425    0.2 
35,464      Seagate Technology   1,998,396    0.9 
9,615      Steel Dynamics, Inc.   475,269    0.2 
19,050      Toll Brothers, Inc.   752,284    0.3 
15,432      UnitedHealth Group, Inc.   3,726,982    1.7 
11,065      Unum Group   429,433    0.2 

 

Shares        Value   Percentage
of Net
Assets		 
COMMON STOCK: (continued)         
       United States: (continued)          
59,244     VF Corp.  $4,808,243    2.2 
           118,227,383    53.7 
                  
    Total Common Stock          
    (Cost $184,562,285)   209,924,575    95.4 
                  
                  
SHORT-TERM INVESTMENTS: 4.7%          
       Mutual Funds: 4.7%          
10,248,761   (4)  BlackRock Liquidity Funds, FedFund, Institutional Class, 1.640%          
       (Cost $10,248,761)   10,248,761    4.7 
                  
    Total Short-Term Investments          
    (Cost $10,248,761)   10,248,761    4.7 
                  
    Total Investments in Securities
(Cost $194,811,046)		  $220,173,336    100.1 
    Liabilities in Excess of Other Assets   (162,657)   (0.1)
    Net Assets  $220,010,679    100.0 

 

(1) Non-income producing security.
(2) 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.
(3) Security is a Master Limited Partnership.
(4) Rate shown is the 7-day yield as of May 31, 2018.

 

Sector Diversification   Percentage
of Net Assets		 
Financials   18.9%
Information Technology   16.6 
Consumer Discretionary   11.1 
Health Care   9.8 
Industrials   9.3 
Energy   7.8 
Materials   7.5 
Consumer Staples   5.6 
Utilities   3.9 
Real Estate   2.6 
Telecommunication Services   2.3 
Short-Term Investments   4.7 
Liabilities in Excess of Other Assets   (0.1)
Net Assets   100.0%

 

 

 

Voya Global Advantage and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2018 (Unaudited)(Continued)

 

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of May 31, 2018 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, 2018		 
Asset Table                     
Investments, at fair value                        
Common Stock                    
Australia  $–   $10,052,335   $–   $10,052,335 
Austria   –    6,213,807    –    6,213,807 
Canada   7,449,052    –    –    7,449,052 
Denmark   –    1,059,986    –    1,059,986 
Finland   –    1,041,782    –    1,041,782 
France   –    434,986    –    434,986 
Germany   –    1,766,092    –    1,766,092 
Hong Kong   –    4,907,504    –    4,907,504 
Italy   –    993,756    –    993,756 
Japan   –    21,562,065    –    21,562,065 
Netherlands   –    11,943,985    –    11,943,985 
Norway   –    4,821,558    –    4,821,558 
Singapore   –    5,091,648    –    5,091,648 
Sweden   41,739    2,264,974    –    2,306,713 
Switzerland   –    1,938,433    –    1,938,433 
United Kingdom   –    10,113,490    –    10,113,490 
United States   118,227,383    –    –    118,227,383 
Total Common Stock   125,718,174    84,206,401    –    209,924,575 
Short-Term Investments   10,248,761    –    –    10,248,761 
Total Investments, at fair value  $135,966,935   $84,206,401   $–   $220,173,336 
Other Financial Instruments+                    
Forward Foreign Currency Contracts   –    9,326    –    9,326 
Futures   36,380    –    –    36,380 
Total Assets  $136,003,315   $84,215,727   $–   $220,219,042 
Liabilities Table                    
Other Financial Instruments+                    
Forward Foreign Currency Contracts  $–   $(320,494)  $–   $(320,494)
Futures   (352,856)   –    –    (352,856)
Written Options   –    (547,729)   –    (547,729)
Total Liabilities  $(352,856)  $(868,223)  $–   $(1,221,079)

 

+ Other Financial Instruments 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, 2018, the following forward foreign currency contracts were outstanding for Voya Global Advantage and Premium Opportunity Fund:

 

Currency Purchased   Currency Sold   Counterparty  Settlement
Date		  Unrealized
Appreciation
(Depreciation)		 
USD427,244   EUR370,030   BNP Paribas S.A.  06/29/18  $(6,220)
JPY15,120,614   USD139,350   BNP Paribas S.A.  06/29/18   (101)
USD5,030,865   HKD39,436,268   BNP Paribas S.A.  06/29/18   (877)
USD22,429,900   JPY2,446,477,180   BNP Paribas S.A.  06/29/18   (100,156)
USD10,255,816   GBP7,697,793   BNP Paribas S.A.  06/29/18   9,052 
USD23,657,516   EUR20,322,530   BNP Paribas S.A.  06/29/18   (148,902)
USD7,440,769   CAD9,659,795   BNP Paribas S.A.  06/29/18   (14,886)
USD4,762,275   NOK38,946,637   Morgan Stanley & Co. International PLC  06/29/18   (2,278)
GBP55,136   USD73,119   Morgan Stanley & Co. International PLC  06/29/18   274 
USD10,109,022   AUD13,384,890   Morgan Stanley & Co. International PLC  06/29/18   (14,863)
USD5,455,988   SGD7,319,903   Societe Generale  06/29/18   (13,872)
USD1,985,044   CHF1,969,908   Societe Generale  06/29/18   (18,339)
               $(311,168)

 

 

 

 

Voya Global Advantage and Premium Opportunity Fund PORTFOLIO OF INVESTMENTS
as of May 31, 2018 (Unaudited)(Continued)

 

At May 31, 2018, the following futures contracts were outstanding for Voya Global Advantage and Premium Opportunity Fund:

 

Description  Number
of Contracts		   Expiration
Date		  Notional
Value		   Unrealized
Appreciation/
(Depreciation)		 
Long Contracts:                  
EURO STOXX 50® Index   202   06/15/18  $8,045,522   $(235,928)
Nikkei 225 Index   42   06/07/18   4,287,448    (116,928)
           $12,332,970   $(352,856)
Short Contracts:                  
FTSE 100 Index   (22)   06/15/18   (2,243,137)   11,637 
S&P 500 E-Mini   (20)   06/15/18   (2,705,500)   24,743 
           $(4,948,637)  $36,380 

 

At May 31, 2018, the following OTC written equity options were outstanding for Voya Global Advantage and Premium Opportunity Fund:

 

Description  Counterparty  Put/Call  Expiration
Date		  Exercise
Price		  Number of
Contracts		   Notional
Amount		   Premiums
Received		   Fair Value 
         
EURO STOXX 50® Index  Morgan Stanley & International PLC  Call  06/01/18   3,468 .000   EUR   900    3,065,985   $38,469   $(189)
EURO STOXX 50® Index  BNP Paribas S.A.  Call  06/15/18   3,558 .510   EUR   900    3,065,985    31,499    (924)
EURO STOXX 50® Index  BNP Paribas S.A.  Call  07/06/18   3,602 .000   EUR   900    3,065,985    38,963    (3,978)
FTSE 100 Index  Societe Generale  Call  06/01/18   7,375 .000   GBP   500    3,839,100    47,835    (197,861)
FTSE 100 Index  Societe Generale  Call  06/15/18   7,760 .900   GBP   500    3,839,100    43,292    (20,348)
FTSE 100 Index  Societe Generale  Call  07/06/18   7,825 .000   GBP   500    3,839,100    51,532    (26,356)
Nikkei 225 Index  BNP Paribas S.A.  Call  06/01/18   22,395 .610   JPY   15,500    344,128,210    42,021    (2,227)
Nikkei 225 Index  Societe Generale  Call  06/15/18   22,927 .000   JPY   14,500    321,926,390    32,219    (5,374)
Nikkei 225 Index  BNP Paribas S.A.  Call  07/06/18   23,144 .150   JPY   14,800    328,586,936    38,440    (8,098)
S&P 500® Index  Societe Generale  Call  06/01/18   2,722 .000   USD   9,000    24,347,430    236,700    (9,474)
S&P 500® Index  Societe Generale  Call  06/15/18   2,749 .930   USD   9,200    24,888,484    218,252    (71,108)
S&P 500® Index  Societe Generale  Call  07/06/18   2,741 .140   USD   9,300    25,159,011    280,209    (201,792)
                              $1,099,431   $(547,729)

 

Currency Abbreviations
AUD - Australian Dollar
CAD - Canadian Dollar
CHF - Swiss Franc
EUR - EU Euro
GBP - British Pound
HKD - Hong Kong Sar Dollar
JPY - Japanese Yen
SGD - Singapore Dollar
USD - United States Dollar
 

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, 2018 was as follows:

 

   Fair Value 
Derivatives not accounted for as hedging instruments     
         
Asset Derivatives  Instrument Type     
Foreign exchange contracts  Forward foreign currency contracts  $9,326 
Equity contracts  Futures contracts   36,380 
Total Asset Derivatives     $45,706 
         
Liability Derivatives  Instrument Type     
Foreign exchange contracts  Forward foreign currency contracts  $320,494 
Equity contracts  Futures contracts   352,856 
Equity contracts  Written options   547,729 
Total Liability Derivatives     $1,221,079 

 

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, 2018:

 

   BNP Paribas S.A.   Morgan Stanley & Co. International PLC   Societe Generale   Totals 
Assets:                    
Forward foreign currency contracts  $9,052   $274   $-   $9,326 
Total Assets  $9,052   $274   $-   $9,326 
                     
Liabilities:                    
Forward foreign currency contracts  $271,142   $17,141   $32,211   $320,494 
Written options   15,227    189    532,313    547,729 
Total Liabilities  $286,369   $17,330   $564,524   $868,223 
                     
Net OTC derivative instruments by counterparty, at fair value  $(277,317)  $(17,056)  $(564,524)   (858,897)
                     
Total collateral pledged by the Fund/(Received from counterparty)  $-   $-   $-   $- 
                     
Net Exposure(1)(2)  $(277,317)  $(17,056)  $(564,524)  $(858,897)

 

(1)Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund.
(2)At May 31, 2018, the Fund had received $130,000 and $1,470,000 in cash collateral from Morgan Stanley & Co. International PLC and Societe Generale, respectively. Excess cash collateral is not shown for financial reporting purposes.

 

At May 31, 2018, the aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments at period end were:

 

Cost for federal income tax purposes was $195,375,023.

 

Net unrealized appreciation consisted of:

 

Gross Unrealized Appreciation  $31,896,256 
Gross Unrealized Depreciation   (6,799,386)
      
Net Unrealized Appreciation  $25,096,870 

 

 

 

 

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/ Michael Bell  
  Michael Bell  
  Chief Executive Officer  
     
Date: July 26, 2018  

 

 

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/ Michael Bell  
   Michael Bell  
  Chief Executive Officer  
     
Date: July 26, 2018  
     
By /s/ Todd Modic  
  Todd Modic  
  Senior Vice President and Chief Financial Officer  
     
Date: July 26, 2018