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: 07/31/2014

 

Date of reporting period: 10/31/2013

 

Item 1 – Schedule of Investments

 
 

Schedule of Investments October 31, 2013 (Unaudited) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)

 

Municipal Bonds Par
(000)		   Value  

New York — 135.2%

Corporate  — 16.0%  
City of New York New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/28 $ 795 $ 755,282  
County of Chautauqua New York Industrial Development Agency, RB, NRG Dunkirk Power Project, 5.88%, 4/01/42   1,000   1,014,760  
County of Essex New York Industrial Development Agency, RB, International Paper Co. Project, Series A, AMT, 6.63%, 9/01/32   550   590,590  
County of Suffolk New York Industrial Development Agency, RB, KeySpan Generation LLC, Port Jefferson, AMT, 5.25%, 6/01/27   6,000   6,021,660  
New York City Industrial Development Agency, ARB, American Airlines, Inc., JFK International Airport, AMT (a):          
  7.63%, 8/01/25   3,200   3,467,872  
  7.75%, 8/01/31   4,000   4,334,840  
New York Liberty Development Corp., RB, Goldman Sachs Headquarters, 5.25%, 10/01/35   5,350   5,719,203  
Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42   1,500   1,322,055  
Port Authority of New York & New Jersey, ARB, Continental Airlines, Inc. & Eastern Air Lines, Inc. Project, LaGuardia, AMT, 9.13%, 12/01/15   4,720   4,820,064  
   
    28,046,326  
 
County/City/Special District/School District  — 34.3%  
City of New York New York, GO, Sub-Series G-1:          
  Fiscal 2009, Series A-1, 4.75%, 8/15/25   750   845,220  
  Fiscal 2012, Series A-1, 5.00%, 8/01/35   1,000   1,056,460  
  Fiscal 2014, Sub-Series D-1, 5.00%, 8/01/31   690   746,373  
              
Municipal Bonds Par
(000)		   Value  

New York (continued)

County/City/Special District/School District (continued)  
City of New York New York, GO, Refunding:          
  Fiscal 2014, Series E, 5.50%, 8/01/25 $ 1,280 $ 1,528,000  
  Series E, 5.00%, 8/01/30   1,000   1,084,670  
  Series I, 5.00%, 8/01/30   1,000   1,080,830  
City of New York New York, GO:          
  Series D, 5.38%, 6/01/32   25   25,082  
  5.00%, 4/01/28   630   690,656  
  5.00%, 4/01/29   5,120   5,566,566  
  6.25%, 12/15/31   500   569,530  
  Sub-Series I-1, 5.38%, 4/01/36   1,750   1,937,652  
City of New York New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC):          
  5.00%, 11/15/35   250   251,823  
  5.00%, 11/15/44   7,245   7,260,142  
  4.75%, 11/15/45   500   492,700  
City of New York New York Housing Development Corp., RB, Fund Grant Program, New York City Housing Authority Program, Series B1:          
  5.25%, 7/01/32   1,140   1,219,264  
  5.00%, 7/01/33   500   523,385  
City of New York New York Industrial Development Agency, RB, PILOT:          
  CAB, Yankee Stadium Project, Series A (AGC), 5.96%, 3/01/42 (b)   1,960   370,734  
  CAB, Yankee Stadium Project, Series A (AGC), 6.07%, 3/01/45 (b)   1,500   230,715  
  Queens Baseball Stadium (AGC), 6.38%, 1/01/39   150   163,313  
  Queens Baseball Stadium (AMBAC), 5.00%, 1/01/39   3,000   2,595,270  
  Yankee Stadium Project (NPFGC), 4.75%, 3/01/46   480   468,254  
Hudson Yards Infrastructure Corp., RB, Series A:          
  Fiscal 2012, 5.75%, 2/15/47   200   211,860  
  5.00%, 2/15/47   5,485   5,493,063  
  (AGC), 5.00%, 2/15/47   1,000   1,008,500  
  (AGM), 5.00%, 2/15/47   1,000   1,008,500  
  (NPFGC), 4.50%, 2/15/47   4,500   4,241,970  

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20131
 
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)

County/City/Special District/School District (concluded)  
Metropolitan Transportation Authority, Refunding RB, Transportation, Series D, 5.00%, 11/15/34 $   800 $ 824,864  
New York Liberty Development Corp., Refunding RB:          
  2nd Priority, Bank of America Tower at One Bryant Park Project, Class 2, 5.63%, 7/15/47   2,000   2,126,060  
  2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49   1,200   1,271,244  
  Liberty, 4 World Trade Center Project, 5.00%, 11/15/31   860   889,309  
  Liberty, 4 World Trade Center Project, 5.00%, 11/15/44   5,020   5,062,871  
  Liberty, 4 World Trade Center Project, 5.75%, 11/15/51   1,340   1,430,490  
  Liberty, 7 World Trade Center Project, Class 1, 4.00%, 9/15/35   4,260   4,109,111  
  Liberty, 7 World Trade Center Project, Class 2, 5.00%, 9/15/43   1,670   1,685,832  
  Liberty, 7 World Trade Center Project, Class 3, 5.00%, 3/15/44   2,070   2,007,010  
   
    60,077,323  
 
Education  — 35.2%  
Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A (c)(d):          
  7.00%, 5/01/25   910   154,718  
  7.00%, 5/01/35   590   100,312  
Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM), 4.63%, 10/01/40   1,100   1,103,190  
Build NYC Resource Corp., RB, Series A:          
  Bronx Charter School For Excellence Project, 5.50%, 4/01/43   900   851,166  
  Bronx Charter School For International Cultures & The Arts Project, 5.00%, 4/15/33   900   800,298  
              
Municipal Bonds Par
(000)		   Value  

New York (continued)

Education (continued)  
City of New York New York Trust for Cultural Resources, RB, Juilliard School, Series A, 5.00%, 1/01/39 $   750 $ 788,648  
City of New York New York Trust for Cultural Resources, Refunding RB:          
  Carnegie Hall, Series A, 4.75%, 12/01/39   2,000   2,010,420  
  Museum of Modern Art, Series 1A, 5.00%, 4/01/31   1,000   1,095,490  
  Wildlife Conservation Society, Series A, 5.00%, 8/01/33   2,000   2,125,160  
City of Troy Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project, Series A, 5.13%, 9/01/40   4,240   4,301,904  
City of Yonkers New York Industrial Development Agency, RB, Sarah Lawrence College Project, Series A, 6.00%, 6/01/41   625   660,694  
County of Dutchess New York Industrial Development Agency, RB, Bard College Civic Facility, Series A-2, 4.50%, 8/01/36   7,000   6,358,940  
County of Madison New York Capital Resource Corp., Refunding RB, Colgate University Project, Series A, 4.50%, 7/01/39   135   135,834  
County of Madison New York Industrial Development Agency New York, RB, Commons II LLC, Student Housing, Series A (CIFG), 5.00%, 6/01/33   275   266,503  
County of Monroe New York Industrial Development Corp., RB, University of Rochester Project, Series A, 5.00%, 7/01/31   1,900   2,015,273  
County of Monroe New York Industrial Development Corp., Refunding RB, University of Rochester, Series A, 5.00%, 7/01/38   320   335,997  
County of Nassau New York Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 4.75%, 3/01/26   1,165   1,197,236  

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20132
 

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 (continued)  
County of Oneida New York Local Development Corp., RB, Hamilton College Project:          
  4.00%, 7/01/33 $   705 $ 673,472  
  4.00%, 7/01/38   300   283,503  
County of Orange New York Funding Corp., Refunding RB, Mount St. Mary College Project, Series A:          
  5.00%, 7/01/37   360   353,603  
  5.00%, 7/01/42   220   208,452  
County of St. Lawrence New York Industrial Development Agency, RB, Clarkson University Project, 5.38%, 9/01/41   750   771,420  
County of Suffolk New York Industrial Development Agency, Refunding RB, Remarketing, New York Institute of Technology Project, 5.00%, 3/01/26   1,000   1,010,390  
County of Tompkins New York Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33   700   751,296  
County of Westchester New York Industrial Development Agency New York, RB, Windward School Civic Facility (Radian), 5.25%, 10/01/31   2,500   2,500,000  
New York State Dormitory Authority, LRB, State University Dormitory Facilities, Series A, 5.00%, 7/01/39   750   772,688  
New York State Dormitory Authority, RB:          
  Convent of the Sacred Heart (AGM), 5.25%, 11/01/24   155   171,320  
  Convent of the Sacred Heart (AGM), 5.63%, 11/01/32   750   809,640  
  Convent of the Sacred Heart (AGM), 5.75%, 11/01/40   210   226,000  
  Mount Sinai School of Medicine, 5.13%, 7/01/39   2,000   2,037,740  
  New York University, Series 1 (AMBAC), 5.50%, 7/01/40   1,440   1,605,312  
  New York University, Series A (AMBAC), 5.00%, 7/01/37   1,000   1,054,280  
  New York University, Series B, 5.00%, 7/01/37   1,250   1,308,987  
  State University Dormitory Facilities, Series A, 5.00%, 7/01/41   2,000   2,064,120  
              
Municipal Bonds Par
(000)		   Value  

New York (continued)

Education (continued)  
New York State Dormitory Authority, RB  (concluded):          
  Teachers College, Series B, 5.00%, 7/01/42 $   3,225 $ 3,297,627  
  University of Rochester, Series A, 5.13%, 7/01/39   850   900,855  
  University of Rochester, Series A, 5.33%, 7/01/39 (e)   650   663,644  
  University of Rochester, Series B, 5.00%, 7/01/39   500   513,885  
New York State Dormitory Authority, Refunding LRB, State University Dormitory Facilities, Series A, 5.00%, 7/01/42   895   924,168  
New York State Dormitory Authority, Refunding RB:          
  3rd General Resolution, State University Educational Facilities Issue, Series A, 5.00%, 5/15/29   2,000   2,159,960  
  Brooklyn Law School, 5.75%, 7/01/33   475   493,302  
  Cornell University, Series A, 5.00%, 7/01/40   1,000   1,059,440  
  Culinary Institute of America, 5.00%, 7/01/42   300   290,220  
  Fordham University, 4.00%, 7/01/30   555   537,878  
  New York University, Series A, 5.00%, 7/01/37   1,790   1,856,140  
  Rochester Institute of Technology, 4.00%, 7/01/33   1,070   984,839  
  Rochester Institute of Technology, 5.00%, 7/01/42   1,790   1,827,751  
  Rockefeller University, Series B, 4.00%, 7/01/38   1,335   1,292,173  
  Skidmore College, Series A, 5.00%, 7/01/27   190   205,688  
  Skidmore College, Series A, 5.00%, 7/01/28   75   80,418  
  Skidmore College, Series A, 5.25%, 7/01/29   85   91,718  
  State University Dormitory Facilities, Series A, 5.25%, 7/01/30   2,355   2,577,100  
  State University Dormitory Facilities, Series A, 5.25%, 7/01/32   445   478,486  

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20133
 

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 (concluded)  
New York State Dormitory Authority, Refunding RB  (concluded):          
  Teachers College, 5.50%, 3/01/39 $   450 $ 471,533  
   
    61,610,831  
 
Health  — 17.0%  
County of Dutchess New York Local Development Corp., Refunding RB, Health Quest System, Inc., Series A, 5.75%, 7/01/40   300   317,829  
County of Genesee New York Industrial Development Agency, Refunding RB, United Memorial Medical Center Project, 5.00%, 12/01/27   500   475,690  
County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project, Series A, 5.00%, 12/01/32   240   242,962  
County of Monroe New York Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40   1,650   1,753,554  
County of Nassau New York Local Economic Assistance Corp., Refunding RB, Winthrop University Hospital Association Project:          
  4.25%, 7/01/42   350   294,308  
  5.00%, 7/01/42   2,750   2,656,390  
County of Suffolk New York Industrial Development Agency, Refunding RB, Jefferson's Ferry Project, 5.00%, 11/01/28   1,175   1,198,582  
County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien:          
  Series A, Remarketing, 5.00%, 11/01/30   2,500   2,559,575  
  Series B, 6.00%, 11/01/30   500   547,750  
County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project:          
  4.00%, 1/01/23   650   644,462  
  5.00%, 1/01/28   675   681,878  
  5.00%, 1/01/34   875   858,594  
              
Municipal Bonds Par
(000)		   Value  

New York (continued)

Health (concluded)  
New York State Dormitory Authority, RB:          
  Hudson Valley Hospital (BHAC), 5.00%, 8/15/36 $   750 $ 771,645  
  New York State Association for Retarded Children, Inc., Series A, 6.00%, 7/01/32   500   539,185  
  New York State Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 7/01/32   200   211,668  
  New York University Hospitals Center, Series A, 6.00%, 7/01/40   500   537,685  
  New York University Hospitals Center, Series B, 5.63%, 7/01/37   530   541,999  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.50%, 5/01/37   1,775   1,850,988  
  North Shore-Long Island Jewish Obligated Group, Series C, 4.25%, 5/01/39   750   659,610  
  North Shore-Long Island Jewish Obligated Group, Series D, 4.25%, 5/01/39   1,100   998,030  
New York State Dormitory Authority, Refunding RB:          
  Miriam Osborn Memorial Home Association, 5.00%, 7/01/29   290   297,749  
  Mount Sinai Hospital Obligated Group, Series A, 5.00%, 7/01/26   1,385   1,487,075  
  New York University Hospital Center, Series A, 5.00%, 7/01/36   3,390   3,414,577  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32   1,750   1,789,515  
  North Shore-Long Island Jewish Obligated Group, Series E, 5.50%, 5/01/33   1,100   1,156,353  
Onondaga Civic Development Corp., Refunding RB, St. Joseph's Hospital Health Center Project:          
  4.50%, 7/01/32   3,225   2,734,187  
  5.00%, 7/01/42   540   465,172  
   
    29,687,012  
 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20134
 

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)

Housing  — 1.0%  
New York State HFA, RB, M/F Housing, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39 $   1,500 $ 1,499,880  
State of New York Mortgage Agency, Refunding RB, 48th Series, 3.70%, 10/01/38   360   288,648  
   
    1,788,528  
 
State  — 6.7%  
City of New York New York Transitional Finance Authority, BARB:          
  Fiscal 2013, Series S-1, 4.00%, 7/15/42   1,575   1,368,628  
  Series S-2 (NPFGC), 4.25%, 1/15/34   1,700   1,700,408  
New York State Dormitory Authority, ERB, Series B, 5.75%, 3/15/36   600   672,426  
New York State Dormitory Authority, RB:          
  Mental Health Services Facilities Improvement, Series B (AMBAC), 5.00%, 2/15/35   2,000   2,031,420  
  School Districts Financing Program, Series A (AGM), 5.00%, 10/01/35   395   407,253  
New York State Dormitory Authority, Refunding RB, General Purpose Bonds, Series D, 5.00%, 2/15/34   500   531,325  
New York State Thruway Authority, RB, Transportation, Series A, 5.00%, 3/15/32   320   344,272  
New York State Thruway Authority, Refunding RB, 2nd General Highway and Bridge Trust, Series A, 5.00%, 4/01/32   3,500   3,699,220  
New York State Urban Development Corp., RB, Personal Income Tax, Series C, 5.00%, 3/15/30   885   964,402  
   
    11,719,354  
 
Transportation  — 15.2%  
Metropolitan Transportation Authority, RB:          
  Series C, 6.50%, 11/15/28   1,000   1,173,260  
  Series D, 5.25%, 11/15/41   1,000   1,033,070  
              
Municipal Bonds Par
(000)		   Value  

New York (continued)

Transportation (concluded)  
Metropolitan Transportation Authority, RB  (concluded):          
  Series H, 5.00%, 11/15/25 $   325 $ 362,564  
Metropolitan Transportation Authority, Refunding RB:          
  Series D, 5.25%, 11/15/30   910   979,870  
  Series D, 4.00%, 11/15/32   1,000   965,390  
  Series F, 5.00%, 11/15/30   4,530   4,786,171  
  Series F (AGM), 4.00%, 11/15/30   1,250   1,245,388  
New York State Thruway Authority, Refunding RB, General, Series I:          
  5.00%, 1/01/27   2,000   2,192,060  
  5.00%, 1/01/37   2,920   3,014,637  
  5.00%, 1/01/42   280   286,577  
Port Authority of New York & New Jersey, ARB, Special Project JFK International Air Terminal LLC AMT (NPFGC):          
  Series 6, 5.75%, 12/01/22   6,000   6,059,700  
  Series 6, 6.25%, 12/01/13   1,000   1,002,040  
  Series 8, 6.00%, 12/01/42   1,000   1,072,530  
Port Authority of New York & New Jersey, Refunding ARB, Consolidated, 177th Series, AMT, 4.00%, 1/15/43   1,970   1,687,876  
Triborough Bridge & Tunnel Authority, Refunding RB:          
  CAB, Sub-Series A, 4.91%, 11/15/32 (b)   845   335,744  
  General, Series B, 5.00%, 11/15/31   190   206,091  
  Sub-Series A, 5.00%, 11/15/30   250   268,225  
   
    26,671,193  
 
Utilities  — 9.8%  
City of New York New York Municipal Water Finance Authority, RB, Series B, 5.00%, 6/15/36   750   780,030  
City of New York New York Municipal Water Finance Authority, Refunding RB, 2nd General Resolution:          
  Fiscal 2011, Series BB, 5.00%, 6/15/31   1,000   1,074,260  
  Series EE, 4.00%, 6/15/45   2,310   2,097,988  
City of New York New York Water & Sewer System, Refunding RB, Series D, 5.00%, 6/15/39   5,000   5,123,900  

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20135
 

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 (concluded)

Utilities (concluded)  
County of Suffolk New York Water Authority, Refunding RB, 3.00%, 6/01/25 $   750 $ 731,557  
Long Island Power Authority, RB, General Electric System:          
  Series A (AGM), 5.00%, 5/01/36   500   511,930  
  Series C (CIFG), 5.25%, 9/01/29   2,000   2,149,600  
Long Island Power Authority, Refunding RB, Electric System, Series A, 5.75%, 4/01/39   4,000   4,325,920  
New York State Environmental Facilities Corp., Refunding RB, New York City Municipal Water, Revolving Funds, Series B, 5.00%, 6/15/36   350   369,723  
   
    17,164,908  
 
Total Municipal Bonds in New York   236,765,475  
 

Puerto Rico — 1.4%

Housing  — 1.4%  
Puerto Rico Housing Finance Authority, Refunding RB, Subordinate, Capital Fund Modernization, 5.13%, 12/01/27   2,500   2,498,400  
 
Total Municipal Bonds — 136.6%   239,263,875  
 
   
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f)  

New York — 25.9%

County/City/Special District/School District  — 6.7%  
City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Fiscal 2012, Sub-Series D-1, 5.00%, 11/01/38   825   871,175  
Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (g)   1,250   1,324,007  
New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, 5.25%, 12/15/43   6,495   6,778,117  
            
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f) Par
(000)		   Value  

New York (continued)

County/City/Special District/School District (concluded)  
New York Liberty Development Corp., Refunding RB, Liberty, 7 World Trade Center Project, Class 1, 5.00%, 9/15/40 $   2,610 $ 2,725,988  
   
    11,699,287  
 
Housing  — 8.2%  
State of New York Mortgage Agency, RB, 31st Series A, AMT, 5.30%, 10/01/31   14,400   14,406,480  
 
State  — 0.4%  
City of New York New York Transitional Finance Authority, BARB, Series S-3, 5.25%, 1/15/39   660   723,426  
 
Transportation  — 1.6%  
New York State Thruway Authority, Refunding RB, General, Series A, 5.00%, 3/15/31   1,180   1,271,356  
Port Authority of New York & New Jersey, ARB, Consolidated, Series 169, AMT, 5.00%, 10/15/26   1,500   1,616,895  
   
    2,888,251  
 
Utilities  — 9.0%  
City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A, 5.75%, 6/15/40   1,200   1,334,374  
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System:          
  2nd General Resolution, Series FF-2, 5.50%, 6/15/40   810   867,099  
  2nd General Resolution, Fiscal 2011, Series HH, 5.00%, 6/15/32   5,310   5,662,850  
  2nd General Resolution, Fiscal 2012, Series BB, 5.00%, 6/15/44   3,511   3,636,525  
  Series A, 4.75%, 6/15/30   2,500   2,614,325  

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20136
 

Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f) Par
(000)		   Value  

New York (concluded)

Utilities (concluded)  
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System  (concluded):          
  Series A, 4.75%, 6/15/30 $ 1,500 $ 1,568,595  
   
    15,683,768  
 
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts — 25.9%   45,401,212  
 
Total Long-Term Investments
(Cost — $284,929,438) — 162.5%		   284,665,087  
 

 

 

 

Short-Term Securities   Shares   Value  
BIF New York Municipal Money Fund, 0.00% (h)(i)   6,507,460      $ 6,507,460  
 
Total Short-Term Securities
(Cost — $6,507,460) — 3.7%		   6,507,460  
 
Total Investments
(Cost — $291,436,898*) — 166.2%		   291,172,547  
Other Assets Less Liabilities — 2.0%   3,561,188  
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (14.3%)   (25,047,886)  
VMTP Shares, at Liquidation Value — (53.9%)   (94,500,000)  
   
Net Assets Applicable to Common Shares — 100.0% $ 175,185,849  
 
* As of October 31, 2013, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

  
Tax cost $ 266,715,681  
Gross unrealized appreciation $ 7,179,366  
Gross unrealized depreciation   (7,767,941)  
Net unrealized depreciation $ (588,575)  
             

 

 

Notes to Schedule of Investments

 

(a) Variable rate security. Rate shown is as of report date.
(b) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.
(c) Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.
(d) Non-income producing security.
(e) 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 is as of report date.
(f) Represent bonds transferred to a TOB. In exchange the Trust acquired residual interest certificates. These bonds serve as collateral in a financing transaction.
(g) All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire on February 15, 2019 is $661,827.
(h) Investments in issuers considered to be an affiliate of the Trust during the period ended October 31, 2013, 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, 2013		   Net
Activity		   Shares
Held at
October 31, 2013		   Income  
 
  BIF New York Municipal Money Fund   7,477,704   (970,244)   6,507,460 $ 1  
 
                                           

 

(i) Represents the current yield as of report date.

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20137
 

Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)

 

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:

 

AGC Assured Guarantee Corp.
AGM Assured Guaranty Municipal Corp.
AMBAC American Municipal Bond Assurance Corp.
AMT Alternative Minimum Tax (subject to)
ARB Airport Revenue Bonds
BARB Building Aid Revenue Bonds
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
M/F Multi-Family
NPFGC National Public Finance Guarantee Corp.
PILOT Payment in Lieu of Taxes
Radian Radian Guaranty, Inc.
RB Revenue Bonds
SONYMA State of New York Mortgage Agency

 


•
Financial futures contracts as of October 31, 2013 were as follows:

 

 
Contracts
Sold		 Issue Exchange Expiration Notional
Value		   Unrealized
Depreciation		  
 
(71) 10-Year US Treasury Note Chicago Board of Trade December 2013 $ 9,042,516 $ (5,624)  
 
                 

 

•  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 rating group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20138
 

Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)

 

• Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

  • Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access
 
  • 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 hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust's policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of investments and derivative financial instruments, please refer to the Trust's most recent financial statements as contained in its annual report.

The following tables summarize the Trust's investments and derivative financial instruments categorized in the disclosure hierarchy as of October 31, 2013:

 

   Level 1  Level 2  Level 3  Total
Assets:              
 Investments:                      
 Long-Term Investments 1    —   $284,665,087    —   $284,665,087 
 Short-Term Securities    $6,507,460    —    —    6,507,460 
Total   $6,507,460   $284,665,087    —   $291,172,547 

 

1 See above Schedule of Investments for values in each sector.

 

   Level 1  Level 2  Level 3  Total
Derivative Financial Instruments 2                    
Liabilities:                     
Interest rate contracts   $(5,624)   —    —   $(5,624)

 

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

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 20139
 

Schedule of Investments (concluded) BlackRock New York Municipal Income Trust (BNY)

 

Certain of the Trust's assets and/or liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of October 31, 2013, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
  

 

   Level 1  Level 2  Level 3  Total
Assets:                     
 Cash    $ 86,630   —    —   $86,630 
 Cash pledged for financial futures contracts    126,000   —    —    126,000 
Liabilities:                     
 TOB trust certificates    —  $(25,045,441)   —    (25,045,441)
 VMTP Shares    —   (94,500,000)   —    (94,500,000)
Total    $ 212,630  $(119,545,441)   —   $(119,332,811)

 


There were no transfers between levels during the period ended October 31, 2013.

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUSTOCTOBER 31, 201310
 

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 (principal executive officer) of
    BlackRock New York Municipal Income Trust
     
  Date: December 23, 2013
     
  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: December 23, 2013
     
  By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Municipal Income Trust
     
  Date: December 23, 2013