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 811-10337

 

Name of Fund: BlackRock New York Municipal Income Trust (BNY)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock New York Municipal Income Trust, 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 07/31/2011

 

Date of reporting period: 04/30/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments April 30, 2011 (Unaudited)

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York — 133.2%

 

 

 

 

 

 

 

Corporate — 17.3%

 

 

 

 

 

 

 

Chautauqua County Industrial
Development Agency, RB, Nrg Dunkirk
Power Project, 5.88%, 4/01/42

 

$

1,000

 

$

929,600

 

Essex County Industrial Development
Agency New York, RB, International
Paper Co. Project, Series A, AMT,
6.63%, 9/01/32

 

 

550

 

 

567,969

 

New York City Industrial Development
Agency, RB, American Airlines Inc.,
JFK International Airport, AMT (a):

 

 

 

 

 

 

 

7.63%, 8/01/25

 

 

3,200

 

 

3,229,152

 

7.75%, 8/01/31

 

 

4,000

 

 

4,040,040

 

New York Liberty Development Corp.,
RB, Goldman Sachs Headquarters,
5.25%, 10/01/35

 

 

6,850

 

 

6,702,108

 

Port Authority of New York & New Jersey,
RB, Continental Airlines Inc.
and Eastern Air Lines Inc. Project,
LaGuardia, AMT, 9.13%, 12/01/15

 

 

7,250

 

 

7,337,000

 

Suffolk County Industrial Development
Agency New York, RB, KeySpan, Port
Jefferson, AMT, 5.25%, 6/01/27

 

 

7,000

 

 

6,684,930

 

 

 

 

 

 

 

 

 

 

 

 

29,490,799

 

County/City/Special District/School District — 25.4%

 

 

 

 

 

 

 

Amherst Development Corp., RB,
University at Buffalo Foundation
Faculty-Student Housing Corp., Series
A (AGM), 4.63%, 10/01/40

 

 

1,100

 

 

948,981

 

City of New York New York, GO:

 

 

 

 

 

 

 

Series A-1, 4.75%, 8/15/25

 

 

750

 

 

780,907

 

Series C, 5.38%, 3/15/12 (b)

 

 

5,000

 

 

5,220,850

 

Series D, 5.38%, 6/01/12 (b)

 

 

15

 

 

15,814

 

Series D, 5.38%, 6/01/32

 

 

3,985

 

 

4,027,520

 

Sub-Series G-1, 6.25%, 12/15/31

 

 

500

 

 

556,960

 

Sub-Series I-1, 5.38%, 4/01/36

 

 

1,750

 

 

1,792,420

 

Hudson Yards Infrastructure Corp., RB,
Series A:

 

 

 

 

 

 

 

5.00%, 2/15/47

 

 

5,425

 

 

4,549,188

 

(NPFGC), 4.50%, 2/15/47

 

 

970

 

 

734,300

 

Metropolitan Transportation Authority,
RB, Transportation, Series D, 5.00%,
11/15/34

 

 

800

 

 

766,872

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

County/City/Special District/School
District (concluded)

 

 

 

 

 

 

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

CAB, Yankee Stadium, PILOT (AGC),
6.05%, 3/01/42 (c)

 

$

2,210

 

$

312,008

 

Marymount School of New York
Project (ACA), 5.13%, 9/01/21

 

 

750

 

 

762,750

 

Marymount School of New York
Project (ACA), 5.25%, 9/01/31

 

 

500

 

 

478,875

 

Queens Baseball Stadium, PILOT
(AGC), 6.38%, 1/01/39

 

 

150

 

 

155,642

 

Queens Baseball Stadium, PILOT
(AMBAC), 5.00%, 1/01/36

 

 

4,900

 

 

4,043,725

 

Queens Baseball Stadium, PILOT
(AMBAC), 5.00%, 1/01/39

 

 

500

 

 

408,610

 

Royal Charter, New York
Presbyterian (AGM), 5.25%,
12/15/32

 

 

1,550

 

 

1,551,627

 

New York City Transitional Finance
Authority, RB:

 

 

 

 

 

 

 

Fiscal 2009, Series S-3, 5.25%,
1/15/39

 

 

650

 

 

656,923

 

Series S-2 (NPFGC), 4.25%,
1/15/34

 

 

1,700

 

 

1,507,662

 

New York Convention Center
Development Corp., RB, Hotel Unit
Fee Secured (AMBAC), 5.00%,
11/15/44

 

 

9,660

 

 

8,827,694

 

New York Liberty Development Corp.,
Refunding RB, Second Priority, Bank
of America Tower at One Bryant Park
Project:

 

 

 

 

 

 

 

5.63%, 7/15/47

 

 

2,000

 

 

1,909,320

 

6.38%, 7/15/49

 

 

1,200

 

 

1,201,128

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

Interagency Council Pooled, Series
A-1, 4.25%, 7/01/25

 

 

1,000

 

 

963,800

 

State University Dormitory Facilities,
Series A, 5.00%, 7/01/39

 

 

750

 

 

746,580

 

New York State Dormitory Authority,
Refunding RB, School Districts
Financing Program, Series A (AGM),
5.00%, 10/01/35

 

 

395

 

 

390,592

 

 

 

 

 

 

 

 

 

 

 

 

43,310,748

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

ACA

ACA Financial Guaranty Corp.

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

BHAC

Berkshire Hathaway Assurance Corp.

CAB

Capital Appreciation Bonds

CIFG

CDC IXIS Financial Guaranty

ERB

Education Revenue Bonds

FHA

Federal Housing Administration

GO

General Obligation Bonds

HFA

Housing Finance Agency

LRB

Lease Revenue Bonds

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

PILOT

Payment in Lieu of Taxes

RB

Revenue Bonds

SONYMA

State of New York Mortgage Agency

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

APRIL 30, 2011

1


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Education — 27.5%

 

 

 

 

 

 

 

Albany Industrial Development Agency,
RB, New Covenant Charter School
Project, Series A (d)(e):

 

 

 

 

 

 

 

7.00%, 5/01/25

 

$

910

 

$

227,527

 

7.00%, 5/01/35

 

 

590

 

 

147,518

 

City of Troy New York, Refunding RB,
Rensselaer Polytechnic, Series A,
5.13%, 9/01/40

 

 

875

 

 

837,226

 

Dutchess County Industrial
Development Agency New York,
Refunding RB, Bard College Civic
Facility, Series A-2, 4.50%, 8/01/36

 

 

7,000

 

 

5,824,980

 

Madison County Industrial Development
Agency New York, RB:

 

 

 

 

 

 

 

Colgate University Project, Series B,
5.00%, 7/01/33

 

 

2,000

 

 

2,005,580

 

Commons II LLC, Student Housing,
Series A (CIFG), 5.00%, 6/01/33

 

 

275

 

 

236,756

 

Nassau County Industrial Development
Agency, Refunding RB, New York
Institute of Technology Project, Series
A, 4.75%, 3/01/26

 

 

1,165

 

 

1,132,287

 

New York City Trust for Cultural
Resources, Refunding RB, Museum of
Modern Art, Series 1A, 5.00%,
4/01/31

 

 

1,000

 

 

1,022,350

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

5.83%, 7/01/39 (f)

 

 

650

 

 

554,359

 

Convent of the Sacred Heart (AGM),
5.25%, 11/01/24

 

 

155

 

 

160,515

 

Convent of the Sacred Heart (AGM),
5.63%, 11/01/32

 

 

750

 

 

767,565

 

Convent of the Sacred Heart (AGM),
5.75%, 11/01/40

 

 

210

 

 

213,352

 

Cornell University, Series A, 5.00%,
7/01/40

 

 

1,000

 

 

1,017,600

 

Mount Sinai School of Medicine,
5.13%, 7/01/39

 

 

2,000

 

 

1,901,280

 

The New School (AGM), 5.50%,
7/01/43

 

 

1,950

 

 

1,979,308

 

New School University (NPFGC),
5.00%, 7/01/41

 

 

9,000

 

 

8,402,940

 

New York University, Series 1
(AMBAC), 5.50%, 7/01/40

 

 

2,190

 

 

2,294,945

 

New York University, Series 2
(AMBAC), 5.00%, 7/01/41

 

 

4,000

 

 

3,932,400

 

New York University, Series A
(AMBAC), 5.00%, 7/01/37

 

 

1,000

 

 

989,850

 

Rochester Institute of Technology,
Series A, 6.00%, 7/01/33

 

 

1,000

 

 

1,062,040

 

University of Rochester, Series A,
5.13%, 7/01/39

 

 

850

 

 

850,221

 

Vassar College, 5.00%, 7/01/49

 

 

825

 

 

815,512

 

New York State Dormitory Authority,
Refunding RB:

 

 

 

 

 

 

 

Brooklyn Law School, 5.75%,
7/01/33

 

 

475

 

 

493,777

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Education (concluded)

 

 

 

 

 

 

 

New York State Dormitory Authority,
Refunding RB (concluded):

 

 

 

 

 

 

 

Skidmore College, Series A, 5.00%,
7/01/27

 

$

190

 

$

196,576

 

Skidmore College, Series A, 5.00%,
7/01/28

 

 

75

 

 

76,982

 

Skidmore College, Series A, 5.25%,
7/01/29

 

 

85

 

 

88,252

 

Teachers College, 5.50%, 3/01/39

 

 

450

 

 

456,831

 

Yeshiva University, 5.00%, 9/01/34

 

 

275

 

 

277,032

 

Suffolk County Industrial Development
Agency, Refunding RB, New York
Institute of Technology Project, 5.00%,
3/01/26

 

 

1,000

 

 

992,690

 

Tompkins County Development Corp.,
RB, Ithaca College Project (AGM),
5.50%, 7/01/33

 

 

700

 

 

719,502

 

Trust for Cultural Resources, RB:

 

 

 

 

 

 

 

Carnegie Hall, Series A, 4.75%,
12/01/39

 

 

2,250

 

 

2,078,055

 

Juilliard School, Series A, 5.00%,
1/01/39

 

 

2,100

 

 

2,110,479

 

Westchester County Industrial
Development Agency New York, RB,
Windward School Civic Facility
(Radian), 5.25%, 10/01/31

 

 

2,500

 

 

2,269,875

 

Yonkers Industrial Development Agency
New York, RB, Sarah Lawrence
College Project, Series A, 6.00%,
6/01/41

 

 

625

 

 

630,931

 

 

 

 

 

 

 

 

 

 

 

 

46,767,093

 

Health — 7.6%

 

 

 

 

 

 

 

Dutchess County Local Development
Corp., Refunding RB, Health Quest
System Inc., Series A, 5.75%,
7/01/40

 

 

300

 

 

289,698

 

Genesee County Industrial Development
Agency New York, Refunding RB,
United Memorial Medical Center
Project, 5.00%, 12/01/27

 

 

500

 

 

392,005

 

Monroe County Industrial Development
Corp., RB, Unity Hospital of Rochester
Project (FHA), 5.50%, 8/15/40

 

 

1,050

 

 

1,054,315

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

Hudson Valley Hospital (BHAC),
5.00%, 8/15/36

 

 

750

 

 

742,508

 

New York State Association for
Retarded Children, Inc., Series A,
6.00%, 7/01/32

 

 

575

 

 

595,965

 

New York State Association for
Retarded Children, Inc., Series B
(AMBAC), 6.00%, 7/01/32

 

 

200

 

 

207,560

 

New York University Hospital
Center, Series A, 6.00%, 7/01/40

 

 

500

 

 

501,000

 

New York University Hospital
Center, Series B, 5.63%, 7/01/37

 

 

530

 

 

514,763

 

North Shore-Long Island Jewish
Health System, 5.50%, 5/01/13 (b)

 

 

2,000

 

 

2,195,200

 

North Shore-Long Island Jewish
Health System, Series A, 5.50%,
5/01/37

 

 

1,775

 

 

1,722,478

 

 

 

 

2

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

APRIL 30, 2011


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust (BNY)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Health (concluded)

 

 

 

 

 

 

 

New York State Dormitory Authority,
Refunding RB:

 

 

 

 

 

 

 

Mount Sinai Hospital, Series A,
5.00%, 7/01/26

 

$

1,385

 

$

1,381,260

 

North Shore-Long Island Jewish
Health System, Series E, 5.50%,
5/01/33

 

 

1,100

 

 

1,082,081

 

Suffolk County Industrial Development
Agency New York, Refunding RB,
Jeffersons Ferry Project, 5.00%,
11/01/28

 

 

1,175

 

 

1,014,389

 

Westchester County Healthcare Corp.
New York, Refunding RB, Senior Lien,
Series B, 6.00%, 11/01/30

 

 

375

 

 

372,866

 

Westchester County Industrial
Development Agency New York, MRB,
Kendal on Hudson Project, Series A,
6.38%, 1/01/24

 

 

1,000

 

 

942,970

 

 

 

 

 

 

 

 

 

 

 

 

13,009,058

 

Housing — 5.1%

 

 

 

 

 

 

 

New York Mortgage Agency, Refunding
RB, AMT:

 

 

 

 

 

 

 

Homeowner Mortgage, Series 97,
5.50%, 4/01/31

 

 

1,970

 

 

1,962,829

 

Series 101, 5.40%, 4/01/32

 

 

4,465

 

 

4,387,934

 

New York State HFA, RB, Highland
Avenue Senior Apartments, Series A,
AMT (SONYMA), 5.00%, 2/15/39

 

 

1,500

 

 

1,303,665

 

Yonkers Economic Development Corp.,
Refunding RB, Riverview II (Freddie
Mac), 4.50%, 5/01/25

 

 

1,000

 

 

970,650

 

 

 

 

 

 

 

 

 

 

 

 

8,625,078

 

State — 4.8%

 

 

 

 

 

 

 

New York State Dormitory Authority,
ERB, Series B, 5.75%, 3/15/36

 

 

600

 

 

648,012

 

New York State Dormitory Authority,
LRB, Municipal Health Facilities, Sub-
Series 2-4, 4.75%, 1/15/30

 

 

1,850

 

 

1,791,892

 

New York State Dormitory Authority, RB,
Mental Health Services Facilities
Improvement, Series B (AMBAC),
5.00%, 2/15/35

 

 

4,855

 

 

4,768,435

 

State of New York, GO, Series A, 4.75%,
2/15/37

 

 

1,000

 

 

992,580

 

 

 

 

 

 

 

 

 

 

 

 

8,200,919

 

Tobacco — 8.1%

 

 

 

 

 

 

 

New York Counties Tobacco Trust III, RB,
Tobacco Settlement Pass-Thru, Turbo,
6.00%, 6/01/43

 

 

6,700

 

 

5,516,713

 

Rensselaer Tobacco Asset Securitization
Corp., RB, Asset-Backed, Series A,
5.75%, 6/01/43

 

 

2,500

 

 

1,982,650

 

Rockland Tobacco Asset Securitization
Corp., RB, Asset-Backed, 5.75%,
8/15/43

 

 

5,000

 

 

3,963,400

 

TSASC Inc. New York, RB, Tobacco
Settlement Asset-Backed, Series 1,
5.75%, 7/15/12 (b)

 

 

2,250

 

 

2,393,550

 

 

 

 

 

 

 

 

 

 

 

 

13,856,313

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

Transportation — 23.6%

 

 

 

 

 

 

 

Hudson Yards Infrastructure Corp., RB
(AGC), 5.00%, 2/15/47

 

$

1,000

 

$

877,630

 

Metropolitan Transportation Authority,
RB, Series 2008C, 6.50%, 11/15/28

 

 

1,000

 

 

1,124,000

 

Metropolitan Transportation Authority,
Refunding RB:

 

 

 

 

 

 

 

Series A, 5.00%, 11/15/30

 

 

12,000

 

 

12,015,600

 

Series A, 5.13%, 11/15/31

 

 

8,000

 

 

7,914,640

 

Transportation, Series F (NPFGC),
5.00%, 11/15/31

 

 

1,000

 

 

973,680

 

New York City Industrial Development
Agency, RB, Airis JFK I LLC Project,
Series A, AMT, 5.50%, 7/01/28

 

 

9,000

 

 

7,630,380

 

Port Authority of New York & New Jersey,
RB:

 

 

 

 

 

 

 

Consolidated, 116th Series, 4.13%,
9/15/32

 

 

500

 

 

456,420

 

Consolidated, 161st Series, 4.50%,
10/15/37

 

 

500

 

 

466,300

 

JFK International Air Terminal,
6.00%, 12/01/42

 

 

1,000

 

 

955,600

 

Special Project, JFK International Air
Terminal, Series 6, AMT (NPFGC),
6.25%, 12/01/13

 

 

1,000

 

 

1,042,760

 

Special Project, JFK International Air
Terminal, Series 6, AMT (NPFGC),
5.75%, 12/01/22

 

 

7,000

 

 

6,710,060

 

 

 

 

 

 

 

 

 

 

 

 

40,167,070

 

Utilities — 13.8%

 

 

 

 

 

 

 

Long Island Power Authority, RB,
General, Series C (CIFG), 5.25%,
9/01/29

 

 

2,000

 

 

2,096,320

 

Long Island Power Authority, Refunding
RB, Series A, 5.75%, 4/01/39

 

 

4,000

 

 

4,188,760

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Election of 2002, Series C, 5.00%,
6/15/32

 

 

6,500

 

 

6,501,235

 

Series A (NPFGC), 5.00%, 6/15/32

 

 

4,000

 

 

4,000,760

 

Series B, 5.00%, 6/15/36

 

 

750

 

 

753,322

 

New York City Municipal Water Finance
Authority, Refunding RB:

 

 

 

 

 

 

 

Second General Resolution, Fiscal
2011, Series BB, 5.00%, 6/15/31

 

 

1,000

 

 

1,034,010

 

Series D, 5.00%, 6/15/39

 

 

5,000

 

 

5,010,800

 

 

 

 

 

 

 

 

 

 

 

 

23,585,207

 

Total Municipal Bonds in New York

 

 

 

 

 

227,012,285

 

Guam — 0.9%

 

 

 

 

 

 

 

State — 0.6%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A, 7.00%,
11/15/39

 

 

970

 

 

991,185

 

Utilities — 0.3%

 

 

 

 

 

 

 

Guam Government Waterworks
Authority, Refunding RB, Water,
5.88%, 7/01/35

 

 

600

 

 

545,730

 

Total Municipal Bonds in Guam

 

 

 

 

 

1,536,915

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

APRIL 30, 2011

3


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust (BNY)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Puerto Rico — 12.0%

 

 

 

 

 

 

 

County/City/Special District/School District — 1.1%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB:

 

 

 

 

 

 

 

CAB, Series A, 6.39%, 8/01/32 (c)

 

$

1,685

 

$

421,216

 

First Sub-Series A (AGM), 5.00%,
8/01/40

 

 

1,000

 

 

934,470

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
5.77%, 8/01/41 (c)

 

 

3,500

 

 

467,600

 

 

 

 

 

 

 

 

 

 

 

 

1,823,286

 

Housing — 1.8%

 

 

 

 

 

 

 

Puerto Rico Housing Finance Authority,
Refunding RB, Subordinate, Capital
Fund Modernization, 5.13%,
12/01/27

 

 

3,000

 

 

3,012,030

 

State — 8.1%

 

 

 

 

 

 

 

Commonwealth of Puerto Rico, GO,
Refunding, Public Improvement,
Series C, 6.00%, 7/01/39

 

 

700

 

 

685,034

 

Puerto Rico Highway & Transportation
Authority, Refunding RB, Series CC
(AGM), 5.50%, 7/01/30

 

 

2,750

 

 

2,766,005

 

Puerto Rico Public Buildings Authority,
Refunding RB, Government Facilities,
Series D:

 

 

 

 

 

 

 

5.25%, 7/01/12 (b)

 

 

3,400

 

 

3,584,382

 

5.25%, 7/01/36

 

 

1,600

 

 

1,405,568

 

Puerto Rico Public Finance Corp., RB,
Commonwealth Appropriation, Series
E, 5.50%, 2/01/12 (b)

 

 

3,000

 

 

3,117,300

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 5.75%,
8/01/37

 

 

2,000

 

 

1,960,000

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
5.98%, 8/01/43 (c)

 

 

2,500

 

 

290,375

 

 

 

 

 

 

 

 

 

 

 

 

13,808,664

 

Transportation — 0.1%

 

 

 

 

 

 

 

Puerto Rico Highway & Transportation
Authority, Refunding RB, Series AA-1
(AGM), 4.95%, 7/01/26

 

 

250

 

 

243,735

 

Utilities — 0.9%

 

 

 

 

 

 

 

Puerto Rico Aqueduct & Sewer Authority,
RB, Senior Lien, Series A, 6.00%,
7/01/38

 

 

1,100

 

 

1,048,300

 

Puerto Rico Electric Power Authority,
Refunding RB, Series VV (NPFGC),
5.25%, 7/01/29

 

 

500

 

 

474,160

 

 

 

 

 

 

 

 

 

 

 

 

1,522,460

 

Total Municipal Bonds in Puerto Rico

 

 

 

 

 

20,410,175

 

Total Municipal Bonds – 146.1%

 

 

 

 

 

248,959,375

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (g)

 

Par
(000)

 

Value

 

New York — 12.6%

 

 

 

 

 

 

 

Housing — 9.0%

 

 

 

 

 

 

 

New York Mortgage Agency, RB, 31st
Series A, AMT, 5.30%, 10/01/31

 

$

15,500

 

$

15,252,465

 

Utilities — 3.6%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Fiscal 2009, Series A, 5.75%,
6/15/40

 

 

1,200

 

 

1,287,203

 

Series FF-2, 5.50%, 6/15/40

 

 

810

 

 

844,192

 

New York City Municipal Water Finance
Authority, Refunding RB, Series A,
4.75%, 6/15/30

 

 

4,000

 

 

4,018,800

 

 

 

 

 

 

 

 

 

 

 

 

6,150,195

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 12.6%

 

 

 

 

 

21,402,660

 

Total Long-Term Investments
(Cost – $278,957,157) – 158.7%

 

 

 

 

 

270,362,035

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

BIF New York Municipal Money Fund,
0.00% (h)(i)

 

 

1,040,628

 

 

1,040,628

 

Total Short-Term Securities
(Cost – $1,040,628) – 0.6%

 

 

 

 

 

1,040,628

 

Total Investments
(Cost – $279,997,785*) – 159.3%

 

 

 

 

 

271,402,663

 

Other Assets Less Liabilities – 2.7%

 

 

 

 

 

4,560,302

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (6.5)%

 

 

 

 

 

(11,094,865

)

Preferred Shares, at Redemption Value – (55.5)%

 

 

 

 

 

(94,505,717

)

 

 

 

 

 

Net Assets – 100.0%

 

 

 

 

$

170,362,383

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of April 30, 2011, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

267,744,933

 

 

 

Gross unrealized appreciation

 

$

4,116,486

 

Gross unrealized depreciation

 

 

(11,548,230

)

 

 

Net unrealized depreciation

 

$

(7,431,744

)

 

 

 

 

(a)

Variable rate security. Rate shown is as of report date.

 

 

(b)

US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

 

(c)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(d)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

 

(e)

Non-income producing security.

 

 

(f)

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown reflects the current yield as of report date.

 

 

(g)

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

 

4

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

APRIL 30, 2011


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust (BNY)

 

 

(h)

Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
July 31,
2010

 

Net
Activity

 

Shares
Held at
April 30,
2011

 

Income

 

BIF New York
Municipal
Money Fund

 

 

414,030

 

 

626,598

 

 

1,040,628

 

 

—

 

 

 

(i)

Represents the current yield as of report date.

 

 

•

For Trust compliance purposes, the Trust’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. This definition may not apply for purposes of this report, which may combine sector sub-classifications for reporting ease.

 

 

•

Financial futures contracts sold as of April 30, 2011 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

73

 

30-Year U.S. Treasury Bond

 

Chicago Board of Trade

 

June 2011

 

$

8,697,205

 

$

(236,170

)

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are summarized in three broad level for financial reporting purposes as follows:

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

 

 

 

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.

 

 

 

5

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

APRIL 30, 2011


 

 

 

 

Schedule of Investments (concluded)

BlackRock New York Municipal Income Trust (BNY)

The following tables summarize the inputs used as of April 30, 2011 in determining the fair valuation of the Trust’s investments and derivative financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

270,362,035

 

 

—

 

$

270,362,035

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term
Securities

 

$

1,040,628

 

 

—

 

 

—

 

 

1,040,628

 

Total

 

$

1,040,628

 

$

270,362,035

 

 

—

 

$

271,402,663

 

 

 

 

 

1

See above Schedule of Investments for values in each sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

(236,170

)

 

—

 

 

—

 

$

(236,170

)

 

 

 

2

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

 

 

 

6

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

APRIL 30, 2011

Item 2 –

Controls and Procedures

 

 

2(a) –

The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

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.

 

 

 

BlackRock New York Municipal Income Trust

 

 
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer of
    BlackRock New York Municipal Income Trust
   
  Date: June 24, 2011
   
  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/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock New York Municipal Income Trust
   
  Date: June 24, 2011
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Municipal Income Trust
     
  Date: June 24, 2011