[SCHEDULE 13G/A] VOYA ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND SEC Filing

Rhea-AI Filing Summary

Voya Asia Pacific High Dividend Equity Income Fund (IAE) Schedule 13G/A reports that Gates Foundation Trust and William H. Gates III each beneficially own 19,203 common shares, representing 0.2% of the class. The filing states the issuer had 10,750,335 shares outstanding as of July 31, 2025, which is the basis for the percentage. The Trust changed its name to Gates Foundation Trust effective January 6, 2025, and Melinda French Gates is no longer a reporting person under this amendment. The filing clarifies that the shares are not held to influence control of the issuer and disclaims group status.

Positive

• Clear disclosure of beneficial ownership including precise share count (19,203) and percentage (0.2%).
• Administrative updates are provided: Trust name change effective January 6, 2025, and removal of MFG as reporting person, improving record accuracy.
• Certification that the shares are not held to influence control, consistent with a passive Schedule 13G filing.

Negative

• Immaterial stake (0.2%) provides no meaningful influence on issuer governance or strategy.
• No transaction detail is provided about acquisition timing or cost basis, limiting economic insight for investors.

Insights

Financial Analyst

TL;DR A small passive stake: 19,203 shares (0.2%) is immaterial to control or valuation of IAE.

The reported holding of 19,203 shares, equal to 0.2% of the 10,750,335 shares outstanding, indicates a de minimis position relative to the fund's capital structure. The filing is a Schedule 13G/A, which signals a passive investor disclosure rather than an activist intent. The certification that the securities were not acquired to influence control and the explicit disclaimer of a group align with a non-controlling, passive ownership profile. There are no disclosed transactions, changes in voting arrangements beyond shared power, or material economic events affecting the issuer disclosed in this amendment.

Corporate Governance Expert

TL;DR Governance impact is negligible: shared voting power exists but amount is too small to affect issuer control.

The filing shows shared voting and dispositive power over 19,203 shares but zero sole voting or dispositive power. The amendment notes a name change for the Trust and removal of Melinda French Gates as a reporting person; these are administrative updates rather than governance actions affecting the issuer. The signature includes an attorney-in-fact authorization. No indications of a coordinated group, contested control effort, or proxy-related activity are present in the document.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Voya Asia Pacific High Dividend Equity Income Fund

(Name of Issuer)

Common Shares, $0.01 par value per share

(Title of Class of Securities)

92912J102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 92912J102

1

Names of Reporting Persons

Gates Foundation Trust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

WASHINGTON

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 19,203.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 19,203.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,203.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.2 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: For purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), all common shares ("Common Shares") of Voya Asia Pacific High Dividend Equity Income Fund (the "Issuer") beneficially owned by Gates Foundation Trust (the "Trust") may be deemed to be beneficially owned by William H. Gates III ("WHG" and together with the Trust, the "Reporting Persons") as Trustee of the Trust. Effective January 6, 2025, Bill & Melinda Gates Foundation Trust changed its name to Gates Foundation Trust. As of August 13, 2025, the Trust beneficially owns 19,203 shares of Common Shares of the Issuer. Item 11 is based on 10,750,335 shares of Common Shares outstanding as of July 31, 2025, as reported by the Issuer. The Trust, WHG, and Melinda French Gates ("MFG") initially reported their beneficial ownership of the Common Shares of the Issuer on a Schedule 13G, filed on February 13, 2024, SEC File No. 005-84509. As of this amendment, MFG is no longer a reporting person hereunder.

SCHEDULE 13G

CUSIP No. 92912J102

1

Names of Reporting Persons

William H. Gates III

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 19,203.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 19,203.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,203.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.2 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The Trust beneficially owns 19,203 shares of Common Shares of the Issuer. For purposes of Rule 13d-3 under the Exchange Act, all Common Shares beneficially owned by the Trust may be deemed to be beneficially owned by William H. Gates III as Trustee of the Trust. Item 11 is based on 10,750,335 shares of Common Shares outstanding as of July 31, 2025, as reported by the Issuer.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Voya Asia Pacific High Dividend Equity Income Fund
(b)	Address of issuer's principal executive offices: 7337 East Doubletree Ranch Road Suite 100 Scottsdale, AZ, 85258-2034
Item 2.
(a)	Name of person filing: Gates Foundation Trust and William H. Gates III. Neither the present filing nor anything contained herein shall be construed as an admission that the Reporting Persons constitute a "group" for any purpose and each expressly disclaims membership in a group.
(b)	Address or principal business office or, if none, residence: The Trust - 2365 Carillon Point, Kirkland, Washington 98033 WHG - 500 Fifth Avenue North, Seattle, Washington 98109
(c)	Citizenship: The Trust is a charitable trust organized under the laws of the State of Washington. WHG is a citizen of the United States of America.
(d)	Title of class of securities: Common Shares, $0.01 par value per share
(e)	CUSIP No.: 92912J102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the responses to Item 9 on the attached cover pages.
(b)	Percent of class: 0.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the responses to Item 5 on the attached cover pages.
	(ii) Shared power to vote or to direct the vote: See the responses to Item 6 on the attached cover pages.
	(iii) Sole power to dispose or to direct the disposition of: See the responses to Item 7 on the attached cover pages.
	(iv) Shared power to dispose or to direct the disposition of: See the responses to Item 8 on the attached cover pages.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Gates Foundation Trust

Signature:	/s/ Alan Heuberger
Name/Title:	Alan Heuberger, Attorney-in-fact for the Trustee, William H. Gates III
Date:	08/14/2025

William H. Gates III

Signature:	/s/ Alan Heuberger
Name/Title:	Alan Heuberger, Attorney-in-fact
Date:	08/14/2025

Comments accompanying signature: Duly authorized under Special Limited Power of Attorney appointing Alan Heuberger attorney-in-fact, dated August 12, 2008, by and on behalf of William H. Gates III as Trustee, filed as Exhibit 99.5 to Cascade Investment, L.L.C.'s Schedule 13D with respect to Grupo Televisa, S.A.B., on May 7, 2009, SEC File No. 005-60431, and incorporated by reference herein.

FAQ

How many IAE shares does Gates Foundation Trust report owning?

The filing reports 19,203 common shares beneficially owned by Gates Foundation Trust.

What percentage of IAE does the reported holding represent?

The reported holding represents 0.2% of IAE, based on 10,750,335 shares outstanding as of July 31, 2025.

Does the filing indicate an intent to influence control of IAE?

No; the certification states the securities were not acquired and are not held to change or influence control of the issuer.

Has the reporting party changed its name or reporting persons?

Yes; Bill & Melinda Gates Foundation Trust changed its name to Gates Foundation Trust effective January 6, 2025, and Melinda French Gates is no longer a reporting person in this amendment.

Who signed the Schedule 13G/A on behalf of the reporting persons?

The filing is signed by Alan Heuberger as attorney-in-fact for William H. Gates III, dated August 14, 2025.