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Share Name | Share Symbol | Market | Type |
---|---|---|---|
OFS Capital Corporation | NASDAQ:OFS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.15 | 8.10 | 8.49 | 8.24 | 8.09 | 8.21 | 43,834 | 21:51:44 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21938
Voya Natural Resources Equity Income Fund
(Exact name of registrant as specified in charter)
7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ | 85258 |
(Address of principal executive offices) | (Zip code) |
The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801
(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: March 1, 2020 to August 31, 2020
Item 1. Reports to Stockholders.
The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):
| | Beginning on January 1, 2021, as permitted by regulations adopted by the U.S. Securities and Exchange Commission, paper copies of a Fund’s annual and semi-annual shareholder reports, like this semi-annual report, will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Voya funds’ website (www.voyainvestments.com/literature), and you will be notified by mail each time a report is posted and provided with a website link to access the report. | | |
| | If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from a Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank) or, if you are a direct investor, by calling 1-800-992-0180 or by sending an e-mail request to Voyaim_literature@voya.com. | | |
| |
You may elect to receive all future reports in paper free of charge. If you received this document in the mail, please follow the instructions to elect to continue receiving paper copies of your shareholder reports. If you received this document through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. If you invest directly with us, you can call 1-800-992-0180 or send an email request to Voyaim_literature@voya.com to let a Fund know you wish to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account if you invest through your financial intermediary or all funds held with the Voya funds complex if you invest directly with the funds.
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| |
| | This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the fund’s investment objectives, risks, charges, expenses and other information. This information should be read carefully. | | |
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E-Delivery Sign-up – details inside
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Go Paperless with E-Delivery!
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Sign up now for on-line prospectuses, fund reports, and proxy statements. In less than five minutes, you can help reduce paper mail and lower fund costs.
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Just go to www.individuals.voya.com/page/e-delivery, follow the directions and complete the quick 5 Steps to Enroll.
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You will be notified by e-mail when these communications become available on the internet. Documents that are not available on the internet will continue to be sent by mail.
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Index
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| | |
Description
|
| |
| | S&P North American Natural Resources Sector Index* | | | | An index and a market-capitalization-weighted index of 112 stocks designed to measure the performance of companies in the natural resources sector, which includes energy, precious metals, timber and other sub-sectors. | | |
Portfolio Managers’ Report | Voya Natural Resources Equity Income Fund |
|
Geographic Diversification
as of August 31, 2020 (as a percentage of net assets) |
| |||
| | | | ||
| United States | | |
69.0%
|
|
| Canada | | |
29.5%
|
|
| United Kingdom | | |
1.4%
|
|
| Assets in Excess of Other Liabilities* | | |
0.1%
|
|
| Net Assets | | |
100.0%
|
|
|
*
Includes short-term investments.
|
| |||
|
Portfolio holdings are subject to change daily.
|
|
Voya Natural Resources Equity Income Fund | Portfolio Managers’ Report |
| ASSETS: | | ||||||
| Investments in securities at fair value* | | | | $ | 69,981,907 | | |
| Short-term investments at fair value† | | | | | 291,000 | | |
| Cash | | | | | 3,415 | | |
| Foreign currencies at value‡ | | | | | 499 | | |
| Receivables: | | | | | | | |
|
Dividends
|
| | | | 423,826 | | |
|
Interest
|
| | | | 18 | | |
|
Foreign tax reclaims
|
| | | | 473 | | |
| Prepaid expenses | | | | | 650 | | |
| Reimbursement due from Investment Adviser | | | | | 3,199 | | |
| Other assets | | | | | 9,260 | | |
|
Total assets
|
| | | | 70,714,247 | | |
| LIABILITIES: | | | | | | | |
| Payable for fund shares redeemed | | | | | 107,833 | | |
| Payable for investment management fees | | | | | 66,315 | | |
| Payable to trustees under the deferred compensation plan (Note 6) | | | | | 9,260 | | |
| Payable for trustee fees | | | | | 342 | | |
| Other accrued expenses and liabilities | | | | | 94,817 | | |
| Written options, at fair value^ | | | | | 351,819 | | |
|
Total liabilities
|
| | | | 630,386 | | |
|
NET ASSETS
|
| | | $ | 70,083,861 | | |
| NET ASSETS WERE COMPRISED OF: | | | | | | | |
| Paid-in capital | | | | $ | 148,873,822 | | |
| Total distributable loss | | | | | (78,789,961) | | |
|
NET ASSETS
|
| | | $ | 70,083,861 | | |
|
*
Cost of investments in securities
|
| | | $ | 103,608,590 | | |
|
†
Cost of short-term investments
|
| | | $ | 291,000 | | |
|
‡
Cost of foreign currencies
|
| | | $ | 507 | | |
|
^
Premiums received on written options
|
| | | $ | 1,011,122 | | |
| Net assets | | | | $ | 70,083,861 | | |
| Shares authorized | | | | | unlimited | | |
| Par value | | | | $ | 0.010 | | |
| Shares outstanding | | | | | 22,347,890 | | |
| Net asset value | | | | $ | 3.14 | | |
| INVESTMENT INCOME: | | | | | | | |
| Dividends, net of foreign taxes withheld* | | | | $ | 1,334,519 | | |
|
Total investment income
|
| | | | 1,334,519 | | |
| EXPENSES: | | | | | | | |
| Investment management fees | | | | | 379,527 | | |
| Transfer agent fees | | | | | 6,909 | | |
| Shareholder reporting expense | | | | | 25,770 | | |
| Professional fees | | | | | 23,174 | | |
| Custody and accounting expense | | | | | 12,910 | | |
| Trustee fees | | | | | 1,369 | | |
| Licensing fee (Note 7) | | | | | 6,881 | | |
| Miscellaneous expense | | | | | 13,758 | | |
|
Total expenses
|
| | | | 470,298 | | |
|
Waived and reimbursed fees
|
| | | | (20,893) | | |
|
Net expenses
|
| | | | 449,405 | | |
| Net investment income | | | | | 885,114 | | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | | | | | |
| Net realized gain (loss) on: | | | | | | | |
|
Investments
|
| | | | (9,134,584) | | |
|
Foreign currency related transactions
|
| | | | (889) | | |
|
Written options
|
| | | | (3,296,617) | | |
|
Net realized loss
|
| | | | (12,432,090) | | |
| Net change in unrealized appreciation (depreciation) on: | | | | | | | |
|
Investments
|
| | | | 1,564,559 | | |
|
Foreign currency related transactions
|
| | | | 1,803 | | |
|
Written options
|
| | | | (129,881) | | |
| Net change in unrealized appreciation (depreciation) | | | | | 1,436,481 | | |
| Net realized and unrealized loss | | | | | (10,995,609) | | |
|
Decrease in net assets resulting from operations
|
| | | $ | (10,110,495) | | |
|
*
Foreign taxes withheld
|
| | | $ | 52,999 | | |
| | |
Six Months Ended
August 31, 2020 (Unaudited) |
| |
Year Ended
February 29, 2020 |
| ||||||
FROM OPERATIONS: | | | | | | | | | | | | | |
Net investment income | | | | $ | 885,114 | | | | | $ | 1,936,240 | | |
Net realized loss | | | | | (12,432,090) | | | | | | (5,070,566) | | |
Net change in unrealized appreciation (depreciation) | | | | | 1,436,481 | | | | | | (13,819,949) | | |
Decrease in net assets resulting from operations | | | | | (10,110,495) | | | | | | (16,954,275) | | |
FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | |
Total distributions (excluding return of capital): | | | | | (899,308) | | | | | | (2,158,684) | | |
Return of capital | | | | | (2,602,150) | | | | | | (8,700,387) | | |
Total distributions | | | | | (3,501,458) | | | | | | (10,859,071) | | |
FROM CAPITAL SHARE TRANSACTIONS: | | | | | | | | | | | | | |
Reinvestment of distributions | | | | | — | | | | | | 181,125 | | |
| | | | | — | | | | | | 181,125 | | |
Cost of shares repurchased, net of commissions | | | | | (992,648) | | | | | | — | | |
Net increase (decrease) in net assets resulting from capital share transactions | | | | | (992,648) | | | | | | 181,125 | | |
Net decrease in net assets | | | | | (14,604,601) | | | | | | (27,632,221) | | |
NET ASSETS: | | | | | | | | | | | | | |
Beginning of year or period | | | | | 84,688,462 | | | | | | 112,320,683 | | |
End of year or period | | | | $ | 70,083,861 | | | | | $ | 84,688,462 | | |
| | |
Per Share Operating Performance
|
| |
Ratios and Supplemental Data
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | |
Income (loss)
from investment operations |
| | | | | | | |
Less Distributions
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ratios to average
net assets |
| | | | | | | |||||||||||||||||||||||||||||||||||||||
| | |
Net asset value, beginning of year
or period |
| |
Net investment income gain (loss)
|
| |
Net realized and unrealized
gain (loss) |
| |
Total from investment operations
|
| |
From net investment income
|
| |
From net realized gains
|
| |
From return of capital
|
| |
Total distributions
|
| |
Net asset value, end of year
or period |
| |
Market value, end of year
or period |
| |
Total investment return
at net asset value(1) |
| |
Total investment return
at market value(2) |
| |
Net assets, end of year
or period (000’s) |
| |
Gross expenses prior to
expense waiver/recoupment(3) |
| |
Net expenses after expense
waiver/recoupment(3)(4) |
| |
Net investment income (loss)(3)(4)
|
| |
Portfolio turnover rate
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Year or
period ended |
| |
($)
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
($)
|
| |
(%)
|
| |
(%)
|
| |
($000’s)
|
| |
(%)
|
| |
(%)
|
| |
(%)
|
| |
(%)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
08-31-20+ | | | | | 3.72 | | | | | | 0.04• | | | | | | (0.47) | | | | | | (0.43) | | | | | | 0.04 | | | | | | — | | | | | | 0.11 | | | | | | 0.15 | | | | | | 3.14 | | | | | | 2.58 | | | | |
|
(10.02)
|
| | | |
|
(16.91)
|
| | | | | 70,084 | | | | | | 1.36 | | | | | | 1.30 | | | | | | 2.57 | | | | | | 15 | | |
02-29-20 | | | | | 4.95 | | | | | | 0.09 | | | | | | (0.84) | | | | | | (0.75) | | | | | | 0.10 | | | | | | — | | | | | | 0.38 | | | | | | 0.48 | | | | | | 3.72 | | | | | | 3.31 | | | | |
|
(16.61)
|
| | | |
|
(33.22)
|
| | | | | 84,688 | | | | | | 1.30 | | | | | | 1.30 | | | | | | 1.88 | | | | | | 32 | | |
02-28-19 | | | | | 6.00 | | | | | | 0.06 | | | | | | (0.46) | | | | | | (0.40) | | | | | | 0.06 | | | | | | — | | | | | | 0.59 | | | | | | 0.65 | | | | | | 4.95 | | | | | | 5.50 | | | | |
|
(7.70)
|
| | | |
|
4.12
|
| | | | | 112,321 | | | | | | 1.29 | | | | | | 1.29 | | | | | | 1.10 | | | | | | 50 | | |
02-28-18 | | | | | 6.91 | | | | | | 0.08 | | | | | | (0.35) | | | | | | (0.27) | | | | | | 0.09 | | | | | | — | | | | | | 0.55 | | | | | | 0.64 | | | | | | 6.00 | | | | | | 5.91 | | | | |
|
(3.95)
|
| | | |
|
3.27
|
| | | | | 135,915 | | | | | | 1.22 | | | | | | 1.22 | | | | | | 1.29 | | | | | | 30 | | |
02-28-17 | | | | | 5.99 | | | | | | 0.07 | | | | | | 1.62 | | | | | | 1.69 | | | | | | 0.08 | | | | | | — | | | | | | 0.69 | | | | | | 0.77 | | | | | | 6.91 | | | | | | 6.33 | | | | |
|
30.36
|
| | | |
|
38.89
|
| | | | | 156,035 | | | | | | 1.22 | | | | | | 1.22 | | | | | | 1.07 | | | | | | 41 | | |
02-29-16 | | | | | 9.33 | | | | | | 0.11 | | | | | | (2.54) | | | | | | (2.43) | | | | | | 0.12 | | | | | | — | | | | | | 0.79 | | | | | | 0.91 | | | | | | 5.99 | | | | | | 5.15 | | | | |
|
(26.56)
|
| | | |
|
(34.47)
|
| | | | | 136,413 | | | | | | 1.25 | | | | | | 1.25 | | | | | | 1.45 | | | | | | 72 | | |
02-28-15 | | | | | 11.59 | | | | | | 0.12 | | | | | | (1.37) | | | | | | (1.25) | | | | | | 1.01 | | | | | | — | | | | | | — | | | | | | 1.01 | | | | | | 9.33 | | | | | | 8.99 | | | | |
|
(10.78)
|
| | | |
|
(1.83)
|
| | | | | 212,330 | | | | | | 1.19 | | | | | | 1.19 | | | | | | 1.05 | | | | | | 96 | | |
02-28-14 | | | | | 11.69 | | | | | | 0.10 | | | | | | 0.86 | | | | | | 0.96 | | | | | | 0.10 | | | | | | — | | | | | | 0.96 | | | | | | 1.06 | | | | | | 11.59 | | | | | | 10.15 | | | | |
|
9.90
|
| | | |
|
4.57
|
| | | | | 263,882 | | | | | | 1.20 | | | | | | 1.20 | | | | | | 0.86 | | | | | | 19 | | |
02-28-13 | | | | | 13.12 | | | | | | 0.10• | | | | | | (0.31) | | | | | | (0.21) | | | | | | 0.09 | | | | | | — | | | | | | 1.13 | | | | | | 1.22 | | | | | | 11.69 | | | | | | 10.76 | | | | |
|
(0.97)
|
| | | |
|
(4.32)
|
| | | | | 266,047 | | | | | | 1.18 | | | | | | 1.18 | | | | | | 0.83 | | | | | | 30 | | |
02-29-12 | | | | | 15.34 | | | | | | 0.06 | | | | | | (0.86) | | | | | | (0.80) | | | | | | 1.01 | | | | | | — | | | | | | 0.41 | | | | | | 1.42 | | | | | | 13.12 | | | | | | 12.50 | | | | |
|
(5.00)
|
| | | |
|
(14.51)
|
| | | | | 298,725 | | | | | | 1.22 | | | | | | 1.22 | | | | | | 0.44 | | | | | | 28 | | |
02-28-11 | | | | | 15.86 | | | | | | 0.12 | | | | | | 0.83 | | | | | | 0.95 | | | | | | 0.12 | | | | | | — | | | | | | 1.35 | | | | | | 1.47 | | | | | | 15.34 | | | | | | 16.24 | | | | |
|
6.59
|
| | | |
|
7.36
|
| | | | | 347,952 | | | | | | 1.20 | | | | | | 1.20† | | | | | | 0.80† | | | | | | 30 | | |
|
August 31,
|
| | |||||||||||||||||
|
2021
|
| |
2022
|
| |
2023
|
| |
Total
|
| |||||||||
| $ — | | | | $ | — | | | | | $ | 20,893 | | | | | $ | 20,893 | | |
| | |
Reinvestment
of distributions |
| |
Shares
repurchased |
| |
Net
increase (decrease) in shares outstanding |
| |
Reinvestment
of distributions |
| |
Shares
repurchased, net of commissions |
| |
Net
increase (decrease) |
| ||||||||||||||||||
Year or
period ended |
| |
#
|
| |
#
|
| |
#
|
| |
($)
|
| |
($)
|
| |
($)
|
| ||||||||||||||||||
8/31/2020 | | | | | — | | | | | | (388,848) | | | | | | (388,848) | | | | | | — | | | | | | (992,648) | | | | | | (992,648) | | |
2/29/2020 | | | | | 37,205 | | | | | | — | | | | | | 37,205 | | | | | | 181,125 | | | | | | — | | | | | | 181,125 | | |
|
Tax Year Ended
December 31, 2019 |
| |
Tax Year Ended
December 31, 2018 |
| |||||||||||||||
|
Ordinary
Income |
| |
Return
of Capital |
| |
Ordinary
Income |
| |
Return
of Capital |
| |||||||||
| $2,158,688 | | | | $ | 8,700,387 | | | | | $ | 1,325,690 | | | | | $ | 13,355,568 | | |
|
Late
Year Ordinary Loss Deferred |
| |
Post-October
Capital Loss Deferred |
| |
Unrealized
Appreciation/ (Depreciation) |
| |
Capital Loss Carryforwards
|
| |||||||||||||||||||||
|
Amount
|
| |
Character
|
| |
Expiration
|
| ||||||||||||||||||||||||
| $(382,104) | | | | $ | (735,920) | | | | | $ | (13,798,684) | | | | | $ | (15,769,955) | | | | | | Short-term | | | | | | None | | |
| | | | | | | | | | | | | | | | | | (17,113,722) | | | | | | Long-term | | | | | | None | | |
| | | | | | | | | | | | | | | | | $ | (32,883,677) | | | | | | | | | | | | | | |
|
Per Share
Amount |
| |
Declaration
Date |
| |
Payable
Date |
| |
Record
Date |
| |||||||||
|
$0.077
|
| | | | 9/15/2020 | | | | | | 10/15/2020 | | | | | | 10/2/2020 | | |
Voya Natural Resources Equity | SUMMARY PORTFOLIO OF INVESTMENTS |
Income Fund | as of August 31, 2020 (Unaudited) |
Shares
|
| |
Value
|
| |
Percentage
of Net Assets |
| |||||||||
COMMON STOCK: 99.9% | | |||||||||||||||
| | | Canada: 29.5% | | ||||||||||||
12,980 | | | Agnico-Eagle Mines Ltd. | | | | $ | 1,070,850 | | | | | | 1.5 | | |
94,294 | | | B2Gold Corp. | | | | | 635,542 | | | | | | 0.9 | | |
95,252 | | | Barrick Gold Corp. | | | | | 2,824,222 | | | | | | 4.0 | | |
72,265 | | |
Canadian Natural
Resources Ltd. |
| | | | 1,421,453 | | | | | | 2.0 | | |
97,120 | | | Enbridge, Inc. | | | | | 3,109,782 | | | | | | 4.5 | | |
10,011 | | | Franco-Nevada Corp. | | | | | 1,506,455 | | | | | | 2.2 | | |
88,321 (1) | | | Kinross Gold Corp. | | | | | 784,290 | | | | | | 1.1 | | |
19,109 | | | Kirkland Lake Gold Ltd. | | | | | 1,016,790 | | | | | | 1.5 | | |
13,487 | | | PAN American Silver Corp. | | | | | 487,690 | | | | | | 0.7 | | |
31,159 | | | Pembina Pipeline Corp. | | | | | 770,874 | | | | | | 1.1 | | |
96,794 | | | Suncor Energy, Inc. | | | | | 1,551,608 | | | | | | 2.2 | | |
58,491 | | | TC Energy Corp. | | | | | 2,729,190 | | | | | | 3.9 | | |
37,810 | | |
Teck Cominco Ltd. - Class B
|
| | | | 435,571 | | | | | | 0.6 | | |
19,955 | | |
Wheaton Precious Metals
Corp. |
| | | | 1,064,998 | | | | | | 1.5 | | |
72,615 | | | Yamana Gold, Inc. | | | | | 450,213 | | | | | | 0.7 | | |
112,118 | | | Other Securities | | | | | 791,571 | | | | | | 1.1 | | |
| | | | | | | | 20,651,099 | | | | | | 29.5 | | |
| | | United Kingdom: 1.4% | | ||||||||||||
56,812 | | | Amcor PLC | | | | | 628,341 | | | | | | 0.9 | | |
47,791 | | | Other Securities | | | | | 367,990 | | | | | | 0.5 | | |
| | | | | | | | 996,331 | | | | | | 1.4 | | |
| | | United States: 69.0% | | ||||||||||||
7,159 | | | Avery Dennison Corp. | | | | | 826,077 | | | | | | 1.2 | | |
37,088 | | | Baker Hughes Co. | | | | | 529,617 | | | | | | 0.8 | | |
13,846 | | | Ball Corp. | | | | | 1,112,803 | | | | | | 1.6 | | |
13,429 (1) | | | Berry Global Group, Inc. | | | | | 692,131 | | | | | | 1.0 | | |
22,650 | | | Cabot Oil & Gas Corp. | | | | | 429,670 | | | | | | 0.6 | | |
7,908 (1) | | | Cheniere Energy, Inc. | | | | | 411,611 | | | | | | 0.6 | | |
77,080 | | | Chevron Corp. | | | | | 6,469,324 | | | | | | 9.2 | | |
6,961 | | |
Compass Minerals
International, Inc. |
| | | | 396,290 | | | | | | 0.6 | | |
64,479 | | | ConocoPhillips | | | | | 2,443,109 | | | | | | 3.5 | | |
12,668 (1) | | | Crown Holdings, Inc. | | | | | 973,536 | | | | | | 1.4 | | |
11,997 | | | Diamondback Energy, Inc. | | | | | 467,403 | | | | | | 0.7 | | |
38,025 | | | EOG Resources, Inc. | | | | | 1,724,053 | | | | | | 2.5 | | |
139,005 | | | Exxon Mobil Corp. | | | | | 5,551,860 | | | | | | 7.9 | | |
54,765 | | | Freeport-McMoRan, Inc. | | | | | 854,882 | | | | | | 1.2 | | |
44,227 | | | Halliburton Co. | | | | | 715,593 | | | | | | 1.0 | | |
16,103 | | | Hess Corp. | | | | | 741,382 | | | | | | 1.1 | | |
25,262 | | | International Paper Co. | | | | | 916,253 | | | | | | 1.3 | | |
112,130 | | | Kinder Morgan, Inc. | | | | | 1,549,637 | | | | | | 2.2 | | |
37,556 | | | Marathon Petroleum Corp. | | | | | 1,331,736 | | | | | | 1.9 | | |
4,948 | | |
Martin Marietta Materials,
Inc. |
| | | | 1,003,801 | | | | | | 1.4 | | |
Shares
|
| |
Value
|
| |
Percentage
of Net Assets |
| |||||||||
COMMON STOCK: (continued) | | |||||||||||||||
| | | United States (continued) | | ||||||||||||
44,027 | | | Newmont Corp. | | | | $ | 2,962,137 | | | | | | 4.2 | | |
43,607 | | |
Occidental Petroleum Corp.
|
| | | | 555,553 | | | | | | 0.8 | | |
20,249 | | | Oneok, Inc. | | | | | 556,442 | | | | | | 0.8 | | |
8,318 | | |
Packaging Corp. of America
|
| | | | 842,114 | | | | | | 1.2 | | |
34,991 | | |
Parsley Energy, Inc. -
Class A |
| | | | 376,153 | | | | | | 0.5 | | |
28,406 | | | Phillips 66 | | | | | 1,660,899 | | | | | | 2.4 | | |
11,609 | | |
Pioneer Natural Resources
Co. |
| | | | 1,206,523 | | | | | | 1.7 | | |
4,552 | | | Royal Gold, Inc. | | | | | 620,529 | | | | | | 0.9 | | |
76,102 | | | Schlumberger NV | | | | | 1,446,699 | | | | | | 2.1 | | |
12,815 | | | Silgan Holdings, Inc. | | | | | 487,739 | | | | | | 0.7 | | |
25,762 | | | Valero Energy Corp. | | | | | 1,354,824 | | | | | | 1.9 | | |
4,725 | | | Vulcan Materials Co. | | | | | 567,000 | | | | | | 0.8 | | |
18,909 | | | WestRock Co. | | | | | 573,510 | | | | | | 0.8 | | |
81,334 | | | Williams Cos., Inc. | | | | | 1,688,494 | | | | | | 2.4 | | |
261,113 (2)
|
| | Other Securities | | | | | 4,295,093 | | | | | | 6.1 | | |
| | | | | | | | 48,334,477 | | | | | | 69.0 | | |
| | |
Total Common Stock
(Cost $103,608,590) |
| | |
|
69,981,907
|
| | | |
|
99.9
|
| |
SHORT-TERM INVESTMENTS: 0.4% | | |||||||||||||||
| | | Mutual Funds: 0.4% | | ||||||||||||
291,000 (3)
|
| |
Goldman Sachs Financial
Square Government Fund - Institutional Shares, 0.020% (Cost $291,000) |
| | |
|
291,000
|
| | | |
|
0.4
|
| |
| | |
Total Short-Term
Investments (Cost $291,000) |
| | |
|
291,000
|
| | | |
|
0.4
|
| |
| | |
Total Investments in
Securities (Cost $103,899,590) |
| | | $ | 70,272,907 | | | | | | 100.3 | | |
| | |
Liabilities in Excess of
Other Assets |
| | | | (189,046) | | | | | | (0.3) | | |
| | | Net Assets | | | | $ | 70,083,861 | | | | | | 100.0 | | |
|
Voya Natural Resources Equity | SUMMARY PORTFOLIO OF INVESTMENTS |
Income Fund | as of August 31, 2020 (Unaudited) (continued) |
Industry Diversification
|
| |
Percentage
of Net Assets |
| |||
Integrated Oil & Gas | | | | | 20.5% | | |
Gold | | | | | 18.9 | | |
Oil & Gas Storage & Transportation | | | | | 16.2 | | |
Oil & Gas Exploration & Production | | | | | 14.9 | | |
Oil & Gas Refining & Marketing | | | | | 6.8 | | |
Paper Packaging | | | | | 5.7 | | |
Metal & Glass Containers | | | | | 5.3 | | |
Oil & Gas Equipment & Services | | | | | 4.9 | | |
Construction Materials | | | | | 2.5 | | |
Copper | | | | | 1.2 | | |
Industry Diversification
|
| |
Percentage
of Net Assets |
| |||
Diversified Metals & Mining | | | | | 1.2 | | |
Silver | | | | | 0.7 | | |
Paper Products | | | | | 0.3 | | |
Aluminum | | | | | 0.3 | | |
Coal & Consumable Fuels | | | | | 0.3 | | |
Oil & Gas Drilling | | | | | 0.2 | | |
Assets in Excess of Other Liabilities* | | | | | 0.1 | | |
Net Assets | | | | | 100.0% | | |
|
| | |
Quoted Prices
in Active Markets for Identical Investments (Level 1) |
| |
Significant
Other Observable Inputs (Level 2) |
| |
Significant
Unobservable Inputs (Level 3) |
| |
Fair Value
at August 31, 2020 |
| ||||||||||||
Asset Table | | | | | | | | | | | | | | | | | | | | | | | | | |
Investments, at fair value | | | | | | | | | | | | | | | | | | | | | | | | | |
Common Stock* | | | | $ | 69,981,907 | | | | | $ | — | | | | | $ | — | | | | | $ | 69,981,907 | | |
Short-Term Investments | | | | | 291,000 | | | | | | — | | | | | | — | | | | | | 291,000 | | |
Total Investments, at fair value | | | | $ | 70,272,907 | | | | | $ | — | | | | | $ | — | | | | | $ | 70,272,907 | | |
Liabilities Table | | | | | | | | | | | | | | | | | | | | | | | | | |
Other Financial Instruments+ | | | | | | | | | | | | | | | | | | | | | | | | | |
Written Options | | | | $ | — | | | | | $ | (351,819) | | | | | $ | — | | | | | $ | (351,819) | | |
Total Liabilities | | | | $ | — | | | | | $ | (351,819) | | | | | $ | — | | | | | $ | (351,819) | | |
Description
|
| |
Counterparty
|
| |
Put/Call
|
| |
Expiration
Date |
| |
Exercise
Price |
| |
Number of
Contracts |
| |
Notional
Amount |
| |
Premiums
Received |
| |
Fair Value
|
| |||||||||
Energy Select Sector SPDR® Fund
|
| |
Citibank N.A.
|
| |
Call
|
| |
09/04/20
|
| |
USD 37.920
|
| | | | 667,025 | | | |
USD 23,779,441
|
| | | $ | 745,267 | | | | | $ | (19,071) | | |
Materials Select Sector SPDR® Fund
|
| |
UBS AG
|
| |
Call
|
| |
09/18/20
|
| |
USD 63.130
|
| | | | 77,556 | | | |
USD 4,885,252
|
| | | | 63,836 | | | | | | (114,837) | | |
SPDR S&P Oil & Gas
Exploration & Production ETF |
| |
Citibank N.A.
|
| |
Call
|
| |
09/18/20
|
| |
USD 54.330
|
| | | | 50,251 | | | |
USD 2,585,916
|
| | | | 68,638 | | | | | | (51,910) | | |
VanEck Vectors Gold Miners ETF
|
| |
Citibank N.A.
|
| |
Call
|
| |
09/18/20
|
| |
USD 41.710
|
| | | | 83,150 | | | |
USD 3,514,751
|
| | | | 133,381 | | | | | | (166,001) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | $ | 1,011,122 | | | | | $ | (351,819) | | |
Voya Natural Resources Equity | SUMMARY PORTFOLIO OF INVESTMENTS |
Income Fund | as of August 31, 2020 (Unaudited) (continued) |
Derivatives not accounted for as hedging instruments
|
| |
Location on Statement
of Assets and Liabilities |
| |
Fair Value
|
| |||
Liability Derivatives | | | | | | | | | | |
Equity contracts | | |
Written options, at fair value
|
| | | $ | 351,819 | | |
Total Liability Derivatives
|
| | | | | | $ | 351,819 | | |
| | |
Amount of Realized Gain or (Loss) on Derivatives
Recognized in Income |
| |||
Derivatives not accounted for as hedging instruments
|
| |
Written options
|
| |||
Equity contracts | | | | $ | (3,296,617) | | |
Total
|
| | | $ | (3,296,617) | | |
|
| | |
Change in Unrealized Appreciation or (Depreciation)
on Derivatives Recognized in Income |
| |||
Derivatives not accounted for as hedging instruments
|
| |
Written options
|
| |||
Equity contracts | | | | $ | (129,881) | | |
Total
|
| | | $ | (129,881) | | |
| | |
Citibank N.A.
|
| |
UBS AG
|
| |
Totals
|
| |||||||||
Liabilities: | | | | | | | | | | | | | | | | | | | |
Written options
|
| | | $ | 236,982 | | | | | $ | 114,837 | | | | | $ | 351,819 | | |
Total Liabilities
|
| | | $ | 236,982 | | | | | $ | 114,837 | | | | | $ | 351,819 | | |
Net OTC derivative instruments by counterparty, at fair value
|
| | | $ | (236,982) | | | | | $ | (114,837) | | | | | $ | (351,819) | | |
Total collateral pledged by the Fund/(Received from counterparty)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
Net Exposure(1)
|
| | | $ | (236,982) | | | | | $ | (114,837) | | | | | $ | (351,819) | | |
| | | | | |
Proposal
|
| |
Shares
voted for |
| |
Shares voted
against or withheld |
| |
Shares
abstained |
| |
Broker
non-vote |
| |
Total
Shares Voted |
| ||||||||||||||||||
Class II Trustees
|
| |
Voya Natural Resources
Equity Income Fund |
| | | | | | | ||||||||||||||||||||||||||||||
| | | Martin J. Gavin | | | |
|
1*
|
| | | | | 18,412,287.500 | | | | | | 1,234,762.000 | | | | | | 0.000 | | | | | | 0.000 | | | | | | 19,647,049.500 | | |
| | | Dina Santoro | | | |
|
1*
|
| | | | | 18,415,820.500 | | | | | | 1,231,229.000 | | | | | | 0.000 | | | | | | 0.000 | | | | | | 19,647,049.500 | | |
|
Declaration
Date |
| |
Ex Date
|
| |
Record Date
|
| |
Payable Date
|
|
|
March 16, 2020
|
| | April 1, 2020 | | | April 2, 2020 | | | April 15, 2020 | |
| June 15, 2020 | | | July 1, 2020 | | | July 2, 2020 | | | July 15, 2020 | |
| September 15, 2020 | | | October 1, 2020 | | | October 2, 2020 | | | October 15, 2020 | |
| December 15, 2020 | | | December 30, 2020 | | | December 31, 2020 | | | January 15, 2021 | |
Item 2. Code of Ethics.
Not required for semi-annual filing.
Item 3. Audit Committee Financial Expert.
Not required for semi-annual filing.
Item 4. Principal Accountant Fees and Services.
Not required for semi-annual filing.
Item 5. Audit Committee of Listed Registrants.
Not required for semi-annual filing.
Item 6. Schedule of Investments.
Complete schedule of investments filed herein.
VOYA NATURAL RESOURCES EQUITY INCOME FUND | PORTFOLIO OF INVESTMENTS |
As of AUGUST 31, 2020 (Unaudited) |
Shares | Value |
Percentage
of Net Assets |
||
COMMON STOCK: 99.9% | ||||
Canada: 29.5% | ||||
12,980 | Agnico-Eagle Mines Ltd. | $ 1,070,850 | 1.5 | |
25,976 | Alamos Gold, Inc. | 271,709 | 0.4 | |
94,294 | B2Gold Corp. | 635,542 | 0.9 | |
95,252 | Barrick Gold Corp. | 2,824,222 | 4.0 | |
16,536 | Cameco Corp. | 191,322 | 0.3 | |
72,265 | Canadian Natural Resources Ltd. | 1,421,453 | 2.0 | |
69,606 | Cenovus Energy, Inc. | 328,540 | 0.5 | |
97,120 | Enbridge, Inc. | 3,109,782 | 4.4 | |
10,011 | Franco-Nevada Corp. | 1,506,455 | 2.2 | |
88,321 | (1) | Kinross Gold Corp. | 784,290 | 1.1 |
19,109 | Kirkland Lake Gold Ltd. | 1,016,790 | 1.5 | |
13,487 | PAN American Silver Corp. | 487,690 | 0.7 | |
31,159 | Pembina Pipeline Corp. | 770,874 | 1.1 | |
96,794 | Suncor Energy, Inc. | 1,551,608 | 2.2 | |
58,491 | TC Energy Corp. | 2,729,190 | 3.9 | |
37,810 | Teck Cominco Ltd. - Class B | 435,571 | 0.6 | |
19,955 | Wheaton Precious Metals Corp. | 1,064,998 | 1.5 | |
72,615 | Yamana Gold, Inc. | 450,213 | 0.7 | |
20,651,099 | 29.5 | |||
United Kingdom: 1.4% | ||||
56,812 | Amcor PLC | 628,341 | 0.9 | |
47,791 | TechnipFMC PLC | 367,990 | 0.5 | |
996,331 | 1.4 | |||
United States: 69.0% | ||||
15,182 | (1) | Alcoa Corp. | 221,961 | 0.3 |
14,450 | Apache Corp. | 213,860 | 0.3 | |
1,620 | Aptargroup, Inc. | 191,792 | 0.3 | |
7,159 | Avery Dennison Corp. | 826,077 | 1.2 | |
37,088 | Baker Hughes Co. | 529,617 | 0.8 | |
13,846 | Ball Corp. | 1,112,803 | 1.6 | |
13,429 | (1) | Berry Global Group, Inc. | 692,131 | 1.0 |
22,650 | Cabot Oil & Gas Corp. | 429,670 | 0.6 | |
17,348 | (1) | ChampionX Corp. | 177,643 | 0.3 |
7,908 | (1) | Cheniere Energy, Inc. | 411,611 | 0.6 |
77,080 | Chevron Corp. | 6,469,324 | 9.2 | |
6,187 | Cimarex Energy Co. | 171,875 | 0.2 | |
6,961 | Compass Minerals International, Inc. | 396,290 | 0.6 | |
5,499 | Concho Resources, Inc./Midland TX | 285,838 | 0.4 | |
64,479 | ConocoPhillips | 2,443,109 | 3.5 | |
12,668 | (1) | Crown Holdings, Inc. | 973,536 | 1.4 |
21,150 | Devon Energy Corp. | 229,900 | 0.3 | |
11,997 | Diamondback Energy, Inc. | 467,403 | 0.7 | |
7,993 | Domtar Corp. | 227,960 | 0.3 | |
2,662 | Eagle Materials, Inc. | 217,672 | 0.3 | |
38,025 | EOG Resources, Inc. | 1,724,053 | 2.5 | |
15,087 | EQT Corp. | 239,431 | 0.3 | |
25,424 | Equitrans Midstream Corp. | 261,359 | 0.4 | |
139,005 | Exxon Mobil Corp. | 5,551,860 | 7.9 | |
54,765 | Freeport-McMoRan, Inc. | 854,882 | 1.2 | |
5,254 | Greif, Inc. - Class A | 193,610 | 0.3 | |
44,227 | Halliburton Co. | 715,593 | 1.0 | |
8,749 | Helmerich & Payne, Inc. | 144,183 | 0.2 | |
16,103 | Hess Corp. | 741,382 | 1.1 | |
5,888 | HollyFrontier Corp. | 140,547 | 0.2 | |
25,262 | International Paper Co. | 916,253 | 1.3 | |
112,130 | Kinder Morgan, Inc. | 1,549,637 | 2.2 | |
37,556 | Marathon Petroleum Corp. | 1,331,736 | 1.9 | |
4,948 | Martin Marietta Materials, Inc. | 1,003,801 | 1.4 | |
14,128 | National Oilwell Varco, Inc. | 169,536 | 0.2 | |
44,027 | Newmont Corp. | 2,962,137 | 4.2 | |
33,845 | Noble Energy, Inc. | 336,758 | 0.5 | |
43,607 | Occidental Petroleum Corp. | 555,553 | 0.8 | |
20,249 | Oneok, Inc. | 556,442 | 0.8 | |
8,318 | Packaging Corp. of America | 842,114 | 1.2 | |
34,991 | Parsley Energy, Inc. - Class A | 376,153 | 0.5 | |
28,406 | Phillips 66 | 1,660,899 | 2.4 | |
11,609 | Pioneer Natural Resources Co. | 1,206,523 | 1.7 | |
4,552 | Royal Gold, Inc. | 620,529 | 0.9 | |
76,102 | Schlumberger NV | 1,446,699 | 2.1 | |
12,815 | Silgan Holdings, Inc. | 487,739 | 0.7 | |
3,525 | Sonoco Products Co. | 186,931 | 0.3 | |
14,124 | Targa Resources Corp. | 240,249 | 0.3 | |
25,762 | Valero Energy Corp. | 1,354,824 | 1.9 | |
4,725 | Vulcan Materials Co. | 567,000 | 0.8 | |
18,909 | WestRock Co. | 573,510 | 0.8 | |
81,334 | Williams Cos., Inc. | 1,688,494 | 2.4 | |
9,833 | World Fuel Services Corp. | 259,591 | 0.4 | |
33,165 | (1) | WPX Energy, Inc. | 184,397 | 0.3 |
48,334,477 | 69.0 | |||
Total Common Stock | ||||
(Cost $103,608,590) | 69,981,907 | 99.9 | ||
SHORT-TERM INVESTMENTS: 0.4% | ||||
Mutual Funds: 0.4% | ||||
291,000 | (2) | Goldman Sachs Financial Square Government Fund - Institutional Shares, 0.020% | ||
(Cost $291,000) | 291,000 | 0.4 | ||
Total Short-Term Investments | ||||
(Cost $291,000) | 291,000 | 0.4 | ||
Total Investments in Securities
(Cost $103,899,590) |
$ 70,272,907 | 100.3 | ||
Liabilities in Excess of Other Assets | (189,046) | (0.3) | ||
Net Assets | $ 70,083,861 | 100.0 |
(1) | Non-income producing security. |
(2) | Rate shown is the 7-day yield as of August 31, 2020. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Period* |
(a) Total
Number of Shares
(or Units) Purchased |
(b) Average
Price
Paid per Share (or Unit) |
(c) Total
Number of
Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs |
(d) Maximum
Number (or Approximate
Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs |
||||||||||||
July 1-31, 2020 | 109,235 | $2.47 | 109,235 | 2,164,439 | ||||||||||||
Aug 1-31, 2020 | 279,613 | $2.54 | 279,613 | 1,884,826 | ||||||||||||
Total | 388,848 | 388,848 |
* The Registrant’s repurchase program, which authorized the repurchase of 2,273,674 shares, was announced on March 13, 2020, with an expiration date of March 31, 2021. Any repurchases made by the registrant pursuant to the program were made through open-market transactions.
Item 10. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11. 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-CSR 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-CSR and the officer certifications of such Form N-CSR. |
(b) | There were no significant changes in the registrant’s internal controls that occurred during the second 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 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(1) | The Code of Ethics is not required for the semi-annual filing. |
(a)(3) | Not required for semi-annual filing. |
(b) | The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT. |
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 Natural Resources Equity Income Fund
By | /s/ Michael Bell | |
Michael Bell | ||
Chief Executive Officer |
Date: November 6, 2020
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: November 6, 2020
By | /s/ Todd Modic | |
Todd Modic | ||
Senior Vice President and Chief Financial Officer |
Date: November 6, 2020
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