BlackRock New York Municipal Income Quality Trust
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 811-21179
Name of Fund: BlackRock New York Municipal Income Quality Trust (BSE)
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 Quality 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: 08/31/2013
Date of reporting period: 11/30/2012
Item 1 – Schedule of Investments
|
|
|
|
|
|
| Schedule of Investments November 30, 2012 (Unaudited) |
|
BlackRock New York Municipal Income
Quality Trust (BSE) (Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds |
|
|
|
|
|
|
|
|
| New York — 108.6% |
|
|
|
|
|
|
|
|
| Corporate — 2.2% |
|
| New York City Industrial Development Agency, Refunding RB, Senior Series A, AMT, 5.00%, 7/01/28 |
|
$ |
165 |
|
|
$ |
176,398 |
|
| New York Liberty Development Corp., RB, Goldman Sachs Headquarters,
5.25%, 10/01/35 |
|
|
1,660 |
|
|
|
2,066,053 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,242,451 |
|
| |
|
| County/City/Special District/School District — 20.6% |
|
| City of New York, New York, GO: |
|
|
|
|
|
|
|
|
| Series A-1, 5.00%, 8/01/35 |
|
|
200 |
|
|
|
238,748 |
|
| Sub-Series A-1, 4.00%, 10/01/34 |
|
|
175 |
|
|
|
192,624 |
|
| Sub-Series A-1, 5.00%, 10/01/34 |
|
|
330 |
|
|
|
398,656 |
|
| Sub-Series G-1, 5.00%, 4/01/28 |
|
|
1,000 |
|
|
|
1,235,120 |
|
| City of New York, New York, GO, Refunding, Series B, 3.00%, 8/01/31 |
|
|
300 |
|
|
|
305,811 |
|
| Erie County Industrial Development Agency, RB, City School District of Buffalo Project: |
|
|
|
|
|
|
|
|
| Series 2011A, 5.25%, 5/01/31 |
|
|
200 |
|
|
|
239,674 |
|
| Series A (AGM), 5.75%, 5/01/25 |
|
|
1,000 |
|
|
|
1,192,940 |
|
| Hudson New York Yards Infrastructure Corp., RB: |
|
|
|
|
|
|
|
|
| (AGC), 5.00%, 2/15/47 |
|
|
1,250 |
|
|
|
1,366,950 |
|
| Series A, 5.00%, 2/15/47 |
|
|
500 |
|
|
|
545,590 |
|
| Series A, 5.75%, 2/15/47 |
|
|
1,000 |
|
|
|
1,214,720 |
|
| Series A (AGM), 5.00%, 2/15/47 |
|
|
750 |
|
|
|
820,170 |
|
| Series A (NPFGC), 4.50%, 2/15/47 |
|
|
1,250 |
|
|
|
1,315,325 |
|
| Monroe County Industrial Development Corp., RB, Series A, 5.00%, 7/01/31 |
|
|
500 |
|
|
|
596,465 |
|
| New York City Industrial Development Agency, RB, PILOT: |
|
|
|
|
|
|
|
|
| CAB, Yankee Stadium (AGC), 4.39%, 3/01/39 (a) |
|
|
1,000 |
|
|
|
319,480 |
|
| Queens Baseball Stadium (AGC), 6.38%, 1/01/39 |
|
|
150 |
|
|
|
179,696 |
|
| Yankee Stadium (NPFGC), 4.75%, 3/01/46 |
|
|
800 |
|
|
|
828,544 |
|
| New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC): |
|
|
|
|
|
|
|
|
| 5.00%, 11/15/44 |
|
|
5,175 |
|
|
|
5,706,679 |
|
| 4.75%, 11/15/45 |
|
|
500 |
|
|
|
547,915 |
|
| New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project: |
|
|
|
|
|
|
|
|
| 5.00%, 11/15/31 |
|
|
1,000 |
|
|
|
1,181,920 |
|
| 5.75%, 11/15/51 |
|
|
670 |
|
|
|
819,685 |
|
|
|
|
|
|
|
|
|
|
| |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds |
|
|
|
|
|
|
|
|
| New York (continued) |
|
|
|
|
|
|
|
|
| County/City/Special District/School District (concluded) |
|
| New York State Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM),
5.00%, 10/01/35 |
|
$ |
1,000 |
|
|
$ |
1,135,780 |
|
| Tompkins County Industrial Development Agency, RB, Civic Facility Cornell University, Series 2008A, 5.00%, 7/01/37 |
|
|
1,000 |
|
|
|
1,201,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,583,692 |
|
| |
|
| Education — 29.6% |
|
| City of Troy Capital Resource Corp., Refunding RB, Rensselaer Polytechnic, Series A, 5.13%, 9/01/40 |
|
|
1,000 |
|
|
|
1,135,600 |
|
| Herkimer County Industrial Development Agency New York, RB, College Foundation, Inc. Student Housing Project, 6.25%,
8/01/34 |
|
|
1,000 |
|
|
|
1,011,140 |
|
| Madison County Industrial Development Agency New York, RB, Colgate University Project, Series A (AMBAC), 5.00%, 7/01/30 |
|
|
1,000 |
|
|
|
1,074,700 |
|
| New York City Industrial Development Agency, RB, Lycee Francais de New York Project, Series A (ACA), 5.38%, 6/01/23 |
|
|
2,195 |
|
|
|
2,247,065 |
|
| New York City Trust for Cultural Resources, Refunding RB: |
|
|
|
|
|
|
|
|
| American Museum of Natural History, Series A (NPFGC), 5.00%, 7/01/44 |
|
|
2,500 |
|
|
|
2,662,075 |
|
| Museum of Modern Art, Series 1A, 5.00%, 4/01/31 |
|
|
700 |
|
|
|
834,673 |
|
| New York State Dormitory Authority, RB: |
|
|
|
|
|
|
|
|
| Brooklyn Law School, Series B (Syncora), 5.13%, 7/01/13 (b) |
|
|
4,000 |
|
|
|
4,111,240 |
|
| Convent of the Sacred Heart (AGM), 5.75%, 11/01/40 |
|
|
300 |
|
|
|
363,459 |
|
| FIT Student Housing Corp. (NPFGC), 5.13%, 7/01/14 (b) |
|
|
2,500 |
|
|
|
2,686,575 |
|
| Fordham University, Series A,
5.00%, 7/01/28 |
|
|
500 |
|
|
|
597,320 |
|
| New York University, Series B, 5.00%, 7/01/37 |
|
|
500 |
|
|
|
594,225 |
|
| New York University, Series C, 5.00%, 7/01/38 |
|
|
1,000 |
|
|
|
1,120,700 |
|
| Saint Joachim & Anne Residence, 5.25%, 7/01/27 |
|
|
3,000 |
|
|
|
3,001,710 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST |
|
NOVEMBER 30, 2012 |
|
1 |
|
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock New York Municipal Income
Quality Trust (BSE) (Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds |
|
|
|
|
|
|
|
|
| New York (continued) |
|
|
|
|
|
|
|
|
| Education (concluded) |
|
|
|
|
|
|
|
|
| New York State Dormitory Authority, RB (concluded): |
|
|
|
|
|
|
|
|
| State University Dormitory Facilities, Series A, 5.00%, 7/01/40 |
|
$ |
600 |
|
|
$ |
688,758 |
|
| The New School (AGM), 5.50%, 7/01/43 |
|
|
350 |
|
|
|
408,965 |
|
| New York State Dormitory Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Cornell University, Series A, 5.00%, 7/01/40 |
|
|
250 |
|
|
|
299,623 |
|
| Fordham University, 4.00%, 7/01/29 |
|
|
385 |
|
|
|
421,563 |
|
| Mount Sinai School of Medicine at NYU (NPFGC), 5.00%, 7/01/35 |
|
|
2,400 |
|
|
|
2,593,488 |
|
| New York University, Series A, 5.00%, 7/01/37 |
|
|
745 |
|
|
|
885,395 |
|
| Rochester Institute of Technology, 4.00%, 7/01/32 (c) |
|
|
395 |
|
|
|
436,001 |
|
| Rochester Institute of Technology, 5.00%, 7/01/40 |
|
|
550 |
|
|
|
628,535 |
|
| Rockefeller University, Series B, 4.00%, 7/01/38 |
|
|
830 |
|
|
|
906,642 |
|
| Skidmore College, Series A, 5.00%, 7/01/27 |
|
|
135 |
|
|
|
161,046 |
|
| Teachers College, Series A, 5.00%, 7/01/31 |
|
|
525 |
|
|
|
631,291 |
|
| Schenectady County Capital Resource Corp., Refunding RB, Union College Project, Series 2012A, 5.00%, 7/01/32 |
|
|
940 |
|
|
|
1,128,545 |
|
| Tompkins County Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33 |
|
|
250 |
|
|
|
298,735 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,929,069 |
|
| |
|
| Health — 14.3% |
|
|
|
|
|
|
|
|
| Dutchess County Industrial Development Agency, RB, Vassar Brothers Medical Center (AGC), 5.50%, 4/01/30 |
|
|
500 |
|
|
|
581,005 |
|
| Monroe County Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40 |
|
|
325 |
|
|
|
385,271 |
|
| New York State Dormitory Authority, RB: |
|
|
|
|
|
|
|
|
| Hospital, Lutheran Medical (NPFGC), 5.00%, 8/01/13 (b) |
|
|
4,000 |
|
|
|
4,031,520 |
|
| Hudson Valley Hospital (BHAC), 5.00%, 8/15/36 |
|
|
1,250 |
|
|
|
1,411,300 |
|
| North Shore-Long Island Jewish Health System, Series A, 5.50%, 5/01/37 |
|
|
350 |
|
|
|
406,500 |
|
|
|
|
|
|
|
|
|
|
| |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds |
|
|
|
|
|
|
|
|
| New York (continued) |
|
|
|
|
|
|
|
|
| Health (concluded) |
|
|
|
|
|
|
|
|
| New York State Dormitory Authority, RB (concluded): |
|
|
|
|
|
|
|
|
| North Shore-Long Island Jewish Health System, Series C, 4.25%, 5/01/39 |
|
$ |
310 |
|
|
$ |
329,279 |
|
| North Shore-Long Island Jewish Health System, Series D, 4.25%, 5/01/39 |
|
|
405 |
|
|
|
433,889 |
|
| NYU Hospital Center, Series A, 6.00%, 7/01/40 |
|
|
250 |
|
|
|
300,353 |
|
| St. Barnabas, Series A (FHA), 5.00%, 2/01/31 |
|
|
3,000 |
|
|
|
3,009,780 |
|
| New York State Dormitory Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| North Shore-Long Island Jewish Health System, Series A, 5.00%, 5/01/32 |
|
|
750 |
|
|
|
862,057 |
|
| North Shore-Long Island Jewish Health System, Series A, 5.25%, 5/01/34 |
|
|
1,840 |
|
|
|
2,157,915 |
|
| NYU Hospital Center, Series A, 5.00%, 7/01/36 |
|
|
500 |
|
|
|
537,210 |
|
| St. Luke’s Roosevelt Hospital (FHA), 4.90%, 8/15/31 |
|
|
500 |
|
|
|
542,220 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,988,299 |
|
| |
|
| State — 8.6% |
|
|
|
|
|
|
|
|
| New York City Transitional Finance Authority, RB: |
|
|
|
|
|
|
|
|
| Fiscal 2009, Series S-4 (AGC), 5.50%, 1/15/33 |
|
|
1,000 |
|
|
|
1,190,000 |
|
| Series S-2 (AGM), 5.00%, 1/15/37 |
|
|
850 |
|
|
|
925,803 |
|
| New York State Dormitory Authority, ERB: |
|
|
|
|
|
|
|
|
| Series B, 5.75%, 3/15/36 |
|
|
600 |
|
|
|
755,412 |
|
| Series C, 5.00%, 12/15/31 |
|
|
1,500 |
|
|
|
1,721,745 |
|
| New York State Dormitory Authority, RB, Mental Health Services Facilities Improvement, Series A (AGM), 5.00%, 2/15/22 |
|
|
1,000 |
|
|
|
1,202,670 |
|
| New York State Dormitory Authority, Refunding RB, Third General Resolution, State University Educational Facilities Issue, 5.00%,
5/15/30 |
|
|
1,500 |
|
|
|
1,851,090 |
|
| New York State Urban Development Corp., RB, State Personal Income Tax, Series A, 3.50%, 3/15/28 |
|
|
1,250 |
|
|
|
1,367,563 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,014,283 |
|
| |
|
| Transportation — 22.7% |
|
|
|
|
|
|
|
|
| Metropolitan Transportation Authority, RB: |
|
|
|
|
|
|
|
|
| Series 2008C, 6.50%, 11/15/28 |
|
|
750 |
|
|
|
969,412 |
|
| Series A, 5.00%, 11/15/27 |
|
|
575 |
|
|
|
691,777 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST |
|
NOVEMBER 30, 2012 |
|
2 |
|
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock New York Municipal Income
Quality Trust (BSE) (Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds |
|
|
|
|
|
|
|
|
| New York (concluded) |
|
|
|
|
|
|
|
|
| Transportation (concluded) |
|
|
|
|
|
|
|
|
| Metropolitan Transportation Authority, RB (concluded): |
|
| Series D, 5.25%, 11/15/41 |
|
$ |
1,750 |
|
|
$ |
2,052,785 |
|
| Series H, 4.00%, 11/15/34 |
|
|
1,160 |
|
|
|
1,244,738 |
|
| Series H, 5.00%, 11/15/42 |
|
|
1,000 |
|
|
|
1,167,310 |
|
| Metropolitan Transportation Authority,
Refunding RB: |
|
| Series B, 5.00%, 11/15/34 |
|
|
540 |
|
|
|
622,372 |
|
| Series F, 5.00%, 11/15/30 |
|
|
630 |
|
|
|
760,057 |
|
| Series F (AGM), 4.00%, 11/15/30 |
|
|
1,000 |
|
|
|
1,118,400 |
|
| New York State Thruway Authority,
Refunding RB: |
|
| Series I, 5.00%, 1/01/37 |
|
|
500 |
|
|
|
589,015 |
|
| Series I, 4.13%, 1/01/42 |
|
|
435 |
|
|
|
467,564 |
|
| Series I, 5.00%, 1/01/42 |
|
|
425 |
|
|
|
499,171 |
|
| Series H (AGM), 5.00%, 1/01/37 |
|
|
4,000 |
|
|
|
4,594,200 |
|
| Triborough Bridge & Tunnel Authority,
Refunding RB: |
|
| Series A, 5.00%, 11/15/34 |
|
|
1,000 |
|
|
|
1,208,390 |
|
| Series B, 5.00%, 11/15/31 |
|
|
90 |
|
|
|
110,348 |
|
| Series C, 5.00%, 11/15/38 |
|
|
1,000 |
|
|
|
1,198,140 |
|
| Series E (NPFGC), 5.00%, 11/15/32 |
|
|
6,400 |
|
|
|
6,422,272 |
|
| |
|
|
|
|
|
|
23,715,951 |
|
| Utilities — 10.6% |
|
|
|
|
|
|
|
|
| Albany Municipal Water Finance Authority, Refunding RB, Series A, 5.00%, 12/01/33 |
|
|
1,000 |
|
|
|
1,184,490 |
|
| Long Island Power Authority, General, RB: |
|
|
|
|
|
|
|
|
| Series A (AGM), 5.00%, 5/01/36 |
|
|
500 |
|
|
|
579,550 |
|
| Series C (CIFG), 5.25%, 9/01/29 |
|
|
1,000 |
|
|
|
1,288,390 |
|
| Long Island Power Authority, Refunding
RB, Series A (AGC): |
|
| General, 6.00%, 5/01/33 |
|
|
2,000 |
|
|
|
2,443,260 |
|
| 5.75%, 4/01/39 |
|
|
1,690 |
|
|
|
2,087,995 |
|
| New York City Municipal Water Finance Authority,
Refunding RB: |
|
| Series DD, 5.00%, 6/15/32 |
|
|
1,100 |
|
|
|
1,301,421 |
|
| Series FF, 4.00%, 6/15/45 |
|
|
400 |
|
|
|
431,936 |
|
| Series FF, 5.00%, 6/15/45 |
|
|
440 |
|
|
|
518,945 |
|
| New York State Power Authority, Refunding RB, Series A, 5.00%, 11/15/38 |
|
|
1,000 |
|
|
|
1,189,810 |
|
| |
|
|
|
|
|
|
11,025,797 |
|
| Total Municipal Bonds in New York |
|
|
|
|
|
|
113,499,542 |
|
| |
|
|
|
|
|
|
|
|
| Puerto Rico — 8.3% |
|
|
|
|
|
|
|
|
| State — 3.5% |
|
|
|
|
|
|
|
|
| Commonwealth of Puerto Rico, GO, Refunding, Sub-Series C-7 (NPFGC), 6.00%, 7/01/27 |
|
|
700 |
|
|
|
765,044 |
|
| Puerto Rico Public Buildings Authority, Refunding RB, Government Facilities, Series M-3 (NPFGC), 6.00%, 7/01/28 |
|
|
500 |
|
|
|
544,380 |
|
|
|
|
|
|
|
|
|
|
| |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds |
|
|
|
|
|
|
|
|
| Puerto Rico (concluded) |
|
|
|
|
|
|
|
|
| State (concluded) |
|
|
|
|
|
|
|
|
| Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A: |
|
| 5.75%, 8/01/37 |
|
$ |
1,000 |
|
|
$ |
1,114,500 |
|
| (AGM), 5.00%, 8/01/40 |
|
|
500 |
|
|
|
545,180 |
|
| Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC) (a): |
|
| 5.42%, 8/01/41 |
|
|
1,500 |
|
|
|
323,940 |
|
| 5.46%, 8/01/43 |
|
|
2,000 |
|
|
|
383,480 |
|
| |
|
|
|
|
|
|
3,676,524 |
|
| Transportation — 3.5% |
|
|
|
|
|
|
|
|
| Puerto Rico Highway & Transportation Authority, RB, Series Y (AGM), 6.25%, 7/01/21 |
|
|
2,000 |
|
|
|
2,435,220 |
|
| Puerto Rico Highway & Transportation Authority, Refunding RB, Series CC (AGM), 5.50%, 7/01/29 |
|
|
1,000 |
|
|
|
1,198,120 |
|
| |
|
|
|
|
|
|
3,633,340 |
|
| Utilities — 1.3% |
|
|
|
|
|
|
|
|
| Puerto Rico Electric Power Authority,
Refunding RB, Series VV (NPFGC): |
|
| 5.25%, 7/01/29 |
|
|
250 |
|
|
|
276,693 |
|
| 5.25%, 7/01/30 |
|
|
1,000 |
|
|
|
1,092,980 |
|
| |
|
|
|
|
|
|
1,369,673 |
|
| Total Municipal Bonds in Puerto Rico |
|
|
|
|
|
|
8,679,537 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds – 116.9% |
|
|
|
|
|
|
122,179,079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond (TOB)
Trusts
(d) |
|
| New York — 36.0% |
|
|
|
|
|
|
|
|
| County/City/Special District/School District — 15.6% |
|
| City of New York, New York, GO, Sub-Series C-3 (AGC), 5.75%, 8/15/28 (e) |
|
|
1,000 |
|
|
|
1,248,330 |
|
| New York City Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D1, 5.00%, 11/01/38 |
|
|
2,475 |
|
|
|
2,953,789 |
|
| New York Liberty Development Corp., Refunding RB, 7 World Trade Center Project, Class 1: |
|
|
|
|
|
|
|
|
| 4.00%, 9/15/35 |
|
|
3,000 |
|
|
|
3,179,100 |
|
| 5.00%, 9/15/40 |
|
|
2,085 |
|
|
|
2,469,140 |
|
| Sales Tax Asset Receivable Corp., Refunding RB, Series A (AMBAC), 5.00%, 10/15/32 |
|
|
5,997 |
|
|
|
6,474,300 |
|
| |
|
|
|
|
|
|
16,324,659 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST |
|
NOVEMBER 30, 2012 |
|
3 |
|
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock New York Municipal Income
Quality Trust (BSE) (Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d) |
|
| New York (concluded) |
|
|
|
|
|
|
|
|
| Education — 5.4% |
|
|
|
|
|
|
|
|
| New York State Dormitory Authority, RB: |
|
|
|
|
|
|
|
|
| New York University, Series A (AMBAC), 5.00%, 7/01/37 |
|
$ |
2,499 |
|
|
$ |
2,781,671 |
|
| State University Dormitory Facilities, Series A, 5.00%, 7/01/35 |
|
|
1,999 |
|
|
|
2,364,501 |
|
| New York State Dormitory Authority, Refunding RB, State University Dormitory Facilities, Series A, 5.00%, 7/01/42 |
|
|
440 |
|
|
|
527,428 |
|
| |
|
|
|
|
|
|
5,673,600 |
|
| Transportation — 7.0% |
|
|
|
|
|
|
|
|
| Hudson New York Yards Infrastructure Corp., RB, Series A,
5.75%, 2/15/47 |
|
|
1,800 |
|
|
|
2,186,308 |
|
| New York Liberty Development Corp., RB, 1 World Trade Center Port Authority,
5.25%, 12/15/43 |
|
|
3,495 |
|
|
|
4,153,159 |
|
| New York State Thruway Authority, Refunding RB, Series A,
5.00%, 3/15/31 (b) |
|
|
800 |
|
|
|
973,864 |
|
| |
|
|
|
|
|
|
7,313,331 |
|
| Utilities — 8.0% |
|
|
|
|
|
|
|
|
| New York City Municipal Water Finance Authority, RB, Fiscal 2009, Series A,
5.75%, 6/15/40 |
|
|
495 |
|
|
|
612,280 |
|
| New York City Municipal Water Finance Authority,
Refunding RB: |
|
| Second General Resolution, Fiscal 2012, Series BB,
5.00%, 6/15/44 |
|
|
2,011 |
|
|
|
2,354,769 |
|
| Second General Resolution,
Series HH, 5.00%, 6/15/32 |
|
|
2,249 |
|
|
|
2,686,414 |
|
| Series FF-2, 5.50%, 6/15/40 |
|
|
405 |
|
|
|
499,220 |
|
| Suffolk County Water Authority, Refunding RB, New York Water System,
3.00%, 6/01/25 |
|
|
2,041 |
|
|
|
2,175,627 |
|
| |
|
|
|
|
|
|
8,328,310 |
|
| Total Municipal Bonds in New York |
|
|
|
37,639,900 |
|
|
|
|
|
|
|
|
|
|
| Puerto Rico — 3.2% |
|
|
|
|
|
|
|
|
| State — 3.2% |
|
|
|
|
|
|
|
|
| Puerto Rico Sales Tax Financing Corp.,
Refunding RB, Series C: |
|
| 5.00%, 8/01/40 |
|
|
2,000 |
|
|
|
2,213,120 |
|
| 5.25%, 8/01/40 |
|
|
1,010 |
|
|
|
1,136,341 |
|
|
|
|
|
|
|
|
|
|
| |
|
Par (000) |
|
|
Value |
|
| Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d) |
|
| Puerto Rico
(concluded) |
|
|
|
|
|
| Total Municipal Bonds in Puerto Rico |
|
|
|
|
|
$ |
3,349,461 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds Transferred to Tender Option Bond (TOB)
Trusts –
39.2% |
|
|
|
40,989,361 |
|
| Total Long-Term Investments
(Cost – $147,711,594) – 156.1% |
|
|
|
163,168,440 |
|
| |
|
| |
|
|
|
|
|
|
|
|
| Short-Term Securities
|
|
|
|
|
|
|
|
|
| New York — 0.1% |
|
|
|
|
|
|
|
|
| City of New York New York, GO, Refunding, VRDN, Sub-Series H-3 (AGM Insurance, State Street
Bank & Trust Co. SBPA), 0.17%,
12/03/12 (f) |
|
$ |
50 |
|
|
|
50,000 |
|
|
|
|
Shares |
|
|
|
|
|
| Money Market Fund —
2.8% |
|
|
|
|
|
| BIF New York Municipal Money Fund,
0.00% (g)(h) |
|
|
2,909,685 |
|
|
|
2,909,685 |
|
| Total Short-Term Securities
(Cost – $2,959,685) – 2.9% |
|
|
|
2,959,685 |
|
| Total Investments
(Cost – $150,671,279*) – 159.0% |
|
|
|
166,128,125 |
|
| Other Assets Less Liabilities – 1.1% |
|
|
|
1,145,870 |
|
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable – (21.3)% |
|
|
|
(22,263,720 |
) |
| VRDP Shares, at Liquidation
Value – (38.8)% |
|
|
|
(40,500,000 |
) |
| Net Assets Applicable to Common
Shares – 100.0% |
|
|
$ |
104,510,275 |
|
| |
|
|
|
|
|
|
|
|
| * |
As of November 30, 2012, gross unrealized appreciation based on cost for federal income tax purposes was as follows: |
|
|
|
|
|
| Tax cost |
|
$ |
128,835,981 |
|
| Gross unrealized appreciation |
|
$ |
15,041,843 |
|
| Net unrealized appreciation |
|
$ |
15,041,843 |
|
| (a) |
Represents a zero-coupon bond. Rate shown reflects the current yield 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.
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST |
|
NOVEMBER 30, 2012 |
|
4 |
|
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock New York Municipal Income
Quality Trust (BSE) |
| (c) |
When-issued security. Unsettled when-issued transactions were as follows: |
|
|
|
|
|
|
|
|
|
| Counterparty |
|
Value |
|
|
Unrealized
Appreciation |
|
| RBC Capital Markets |
|
$ |
436,001 |
|
|
$ |
1,864 |
|
| (d) |
Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing
transaction. |
| (e) |
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 is $500,000.
|
| (f) |
Variable rate security. Rate shown is as of report date and maturity shown is the date the principal owed can be recovered through demand. |
| (g) |
Investments in issuers considered to be an affiliate of the Trust during the period ended November 30, 2012, for purposes of Section 2(a)(3) of the Investment Company
Act of 1940, as amended, were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliate |
|
Shares
Held at
August 31,
2012 |
|
|
Net
Activity |
|
|
Shares
Held at
November 30,
2012 |
|
|
Income |
|
| BIF New York Municipal Money Fund |
|
|
1,020,744 |
|
|
|
1,888,941 |
|
|
|
2,909,685 |
|
|
$ |
— |
|
| (h) |
Represents the current yield as of report date. |
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 |
|
American Capital Access 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 |
| NPFGC |
|
National Public Finance Guarantee Corp. |
| PILOT |
|
Payment in Lieu of Taxes |
| RB |
|
Revenue Bonds |
| SBPA |
|
Standby Bond Purchase Agreement |
| Syncora |
|
Syncora Guarantee |
| VRDN |
|
Variable Rate Demand Note |
| — |
|
Fair Value Measurements - Various inputs are used in determining the fair value of investments. 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 and 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) |
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 level in the fair value hierarchy within which the fair
value measurement falls in its entirety 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 is based on the pricing transparency
of the investment 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 other significant accounting policies, please
refer to the Trust’s most recent financial statements as contained in its annual report.
The following table summarizes the Trust’s
investments categorized in the disclosure hierarchy as of November 30, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Level 1 |
|
|
|
Level 2 |
|
|
|
Level 3 |
|
|
|
Total |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Long Term
Investments1 |
|
|
— |
|
|
$ |
163,168,440 |
|
|
|
— |
|
|
$ |
163,168,440 |
|
| Short-Term
Securities |
|
$ |
2,909,685 |
|
|
|
50,000 |
|
|
|
— |
|
|
|
2,959,685 |
|
| Total |
|
$ |
2,909,685 |
|
|
$ |
163,218,440 |
|
|
|
— |
|
|
$ |
166,128,125 |
|
1See above Schedule of Investments
for values in each sector.
Certain of the Trust’s liabilities are held at carrying amount, which
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST |
|
NOVEMBER 30, 2012 |
|
5 |
|
|
|
|
|
|
| Schedule of Investments (concluded) |
|
BlackRock New York Municipal Income
Quality Trust (BSE) |
approximates fair value for financial reporting purposes. As of November 30, 2012, such liabilities are
categorized within the disclosure hierarchy as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Level 1 |
|
|
|
Level 2 |
|
|
|
Level 3 |
|
|
|
Total |
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOB trust certificates |
|
|
— |
|
|
$ |
(22,250,301 |
) |
|
|
— |
|
|
$ |
(22,250,301 |
) |
| VRDP Shares |
|
|
— |
|
|
|
(40,500,000 |
) |
|
|
— |
|
|
|
(40,500,000 |
) |
| Total |
|
|
— |
|
|
$ |
(62,750,301 |
) |
|
|
— |
|
|
$ |
(62,750,301 |
) |
There were no transfers between levels during the period ended November 30, 2012.
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST |
|
NOVEMBER 30, 2012 |
|
6 |
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 Quality Trust |
|
|
| By: |
|
/s/ John M. Perlowski |
|
|
John M. Perlowski |
|
|
Chief Executive Officer (principal executive officer) of |
|
|
BlackRock New York Municipal Income Quality Trust |
|
|
| Date: |
|
January 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 Quality Trust |
|
|
| Date: |
|
January 23, 2013 |
|
|
| By: |
|
/s/ Neal J. Andrews |
|
|
Neal J. Andrews |
|
|
Chief Financial Officer (principal financial officer) of |
|
|
BlackRock New York Municipal Income Quality Trust |
|
|
| Date: |
|
January 23, 2013 |