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: 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 Infrastructure, Industrials and Materials Fund

 

The schedules are not audited.

 

  

Voya Infrastructure, Industrials and Materials Fund	PORTFOLIO OF INVESTMENTS
	as of May 31, 2018 (Unaudited)

  

 

Voya Infrastructure, Industrials and Materials Fund	PORTFOLIO OF INVESTMENTS
	as of May 31, 2018 (Unaudited) (Continued)

 

 

Voya Infrastructure, Industrials and Materials 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		$	–			$	10,893,333			$	–			$	10,893,333
Canada			8,827,280				–				–				8,827,280
China			–				9,415,858				–				9,415,858
Denmark			–				4,596,924				–				4,596,924
France			–				16,263,575				–				16,263,575
Germany			–				13,216,791				–				13,216,791
Hong Kong			–				942,834				–				942,834
India			–				2,262,475				–				2,262,475
Indonesia			–				1,113,615				–				1,113,615
Italy			–				3,885,234				–				3,885,234
Japan			–				41,119,803				–				41,119,803
Malaysia			–				3,786,178				–				3,786,178
Mexico			1,000,392				–				–				1,000,392
Netherlands			–				8,538,992				–				8,538,992
South Korea			–				8,298,917				–				8,298,917
Spain			–				784,285				–				784,285
Sweden			13,687				6,325,434				–				6,339,121
Switzerland			–				757,589				–				757,589
Taiwan			–				3,025,391				–				3,025,391
Turkey			–				1,469,824				–				1,469,824
United Kingdom			3,228,791				17,827,552				–				21,056,343
United States			130,600,036				–				–				130,600,036
Total Common Stock			143,670,186				154,524,604				–				298,194,790
Exchange-Traded Funds			1,941,750				–				–				1,941,750
Preferred Stock			1,891,328				–				–				1,891,328
Short-Term Investments			582,429				–				–				582,429
Total Investments, at fair value		$	148,085,693			$	154,524,604			$	–			$	302,610,297

 

 

Voya Infrastructure, Industrials and Materials Fund	PORTFOLIO OF INVESTMENTS
	as of May 31, 2018 (Unaudited) (Continued)

 

		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
Liabilities Table
Other Financial Instruments+
Written Options		$	–			$	(793,849	)		$	–			$	(793,849	)
Total Liabilities		$	–			$	(793,849	)		$	–			$	(793,849	)

 

+

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 OTC written equity options were outstanding for Voya Infrastructure, Industrials and Materials Fund:

 

Description		Counterparty		Put/Call		Expiration Date		Exercise Price						Number of Contracts				Notional Amount				Premiums Received				Fair Value
Industrial Select Sector SPDR® Fund		Citibank N.A.		Call		06/28/18			74 .440			USD			412,413				30,700,024			$	432,869			$	(432,869	)
iShares MSCI EAFE ETF		JPMorgan Chase Bank N.A.		Call		06/14/18			71 .590			USD			606,230				42,072,362				390,594				(37,179	)
iShares MSCI Emerging Markets ETF		Goldman Sachs International		Call		06/14/18			46 .460			USD			374,516				11,997,783				344,854				(99,621	)
Materials Select Sector SPDR® Fund		JPMorgan Chase Bank N.A.		Call		06/28/18			58 .180			USD			273,290				15,900,012				224,180				(224,180	)
																						$	1,392,497			$	(793,849	)

 

Currency Abbreviations
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
Liability Derivatives		Instrument Type
Equity contracts		Written options		$	793,849
Total Liability Derivatives				$	793,849

 

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:

 

		Citibank N.A.				Goldman Sachs & Co.				JPMorgan Chase Bank N.A.				Totals
Liabilities:
Written options		$	432,869			$	99,621			$	261,359			$	793,849
Total Liabilities		$	432,869			$	99,621			$	261,359			$	793,849
Net OTC derivative instruments by counterparty, at fair value		$	(432,869	)		$	(99,621	)		$	(261,359	)			(793,849	)
Total collateral pledged by the Fund/(Received from counterparty)		$	-			$	-			$	-			$	-
Net Exposure(1)		$	(432,869	)		$	(99,621	)		$	(261,359	)		$	(793,849	)

 

(1)

Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund.

 

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 $259,129,349.

 

Net unrealized appreciation consisted of:

 

Gross Unrealized Appreciation		$	50,800,936
Gross Unrealized Depreciation			(7,894,030	)
Net Unrealized Appreciation		$	42,906,906

 

 

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/ 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