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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, 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.

 

 

	PORTFOLIO OF INVESTMENTS
Voya Infrastructure, Industrials and Materials Fund	as of May 31, 2015 (Unaudited)

 

 

   

	PORTFOLIO OF INVESTMENTS
Voya Infrastructure, Industrials and Materials Fund	as of May 31, 2015 (Unaudited) (Continued)

 

 

 

	PORTFOLIO OF INVESTMENTS
Voya Infrastructure, Industrials and Materials Fund	as of May 31, 2015 (Unaudited) (Continued)

 

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of May 31, 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 May 31, 2015
Asset Table
Investments, at fair value
Common Stock
Australia		$	2,541,598			$	4,657,941			$	–			$	7,199,539
Brazil			2,921,640				–				–				2,921,640
China			10,587,444				8,704,404				–				19,291,848
France			–				24,322,380				–				24,322,380
Germany			–				13,825,372				–				13,825,372
India			–				8,001,098				–				8,001,098
Israel			–				3,321,914				–				3,321,914
Italy			–				5,148,240				–				5,148,240
Japan			–				29,375,037				–				29,375,037
Netherlands			6,375,366				12,415,667				–				18,791,033
South Africa			–				3,157,760				–				3,157,760
Spain			–				4,630,121				–				4,630,121
Sweden			–				12,195,832				–				12,195,832
Switzerland			–				8,028,162				–				8,028,162
United Kingdom			–				9,565,566				–				9,565,566
United States			156,429,635				–				–				156,429,635
Total Common Stock			178,855,683				147,349,494				–				326,205,177
Preferred Stock			3,377,773				–				–				3,377,773
Short-Term Investments			5,726,000				–				–				5,726,000
Total Investments, at fair value		$	187,959,456			$	147,349,494			$	–			$	335,308,950
Liabilities Table
Other Financial Instruments+
Written Options		$	–			$	(434,206	)		$	–			$	(434,206	)
Total Liabilities		$	–			$	(434,206	)		$	–			$	(434,206	)

 

+

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 May 31, 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
	137,150			Goldman Sachs & Co.		Call on Energy Select Sector SPDR® Fund			80.350		USD		06/18/15		$	243,318			$	(70,732	)
	787,613			Citigroup, Inc.		Call on Industrial Select Sector SPDR® Fund			57.160		USD		06/18/15			706,804				(157,878	)
	677,787			UBS AG		Call on iShares MSCI EAFE ETF			68.340		USD		06/18/15			725,367				(165,852	)
	376,226			UBS AG		Call on iShares MSCI Emerging Markets ETF			42.820		USD		06/18/15			311,252				(39,744	)
						Total Written OTC Options									$	1,986,741			$	(434,206	)

 

 

	PORTFOLIO OF INVESTMENTS
Voya Infrastructure, Industrials and Materials Fund	as of May 31, 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 May 31, 2015 was as follows:

 

		Instrument Type		Fair Value
Derivatives not accounted for as hedging instruments
Liability Derivatives
Equity contracts		Written options		$	434,206
Total Liability Derivatives				$	434,206

 

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, 2015:

 

		Citigroup, Inc.				Goldman Sachs & Co.				UBS AG				Totals
Liabilities:
Written options		$	157,878			$	70,732			$	205,596			$	434,206
Total Liabilities		$	157,878			$	70,732			$	205,596			$	434,206
Net OTC derivative instruments by counterparty, at fair value		$	(157,878	)		$	(70,732	)		$	(205,596	)			(434,206	)
Total collateral pledged by the Fund/(Received from counterparty)		$	-			$	-			$	-			$	-
Net Exposure(1)		$	(157,878	)		$	(70,732	)		$	(205,596	)		$	(434,206	)

 

(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:	July 24, 2015

 

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:	July 24, 2015
By	/s/ Todd Modic
	Todd Modic
	Senior Vice President and Chief Financial Officer
Date:	July 24, 2015