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: 07/31/2015

 

Date of reporting period: 04/30/2015

 

Item 1 – Schedule of Investments

 
 
Schedule of Investments April 30, 2015 (Unaudited) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)
Municipal Bonds Par
(000)		   Value  

New York — 132.5%

  
Corporate  — 12.9%  
City of New York New York Build Resource Corp., Refunding RB, Pratt Paper, Inc. Project, AMT, 5.00%, 1/01/35 (a) $ 280 $ 299,589  
City of New York New York Industrial Development Agency, ARB, American Airlines, Inc., JFK International Airport, AMT (b):          
  7.63%, 8/01/25   3,200   3,463,424  
  7.75%, 8/01/31   4,000   4,336,640  
City of New York New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/28   795   872,696  
County of Chautauqua New York Industrial Development Agency, RB, NRG Dunkirk Power Project, 5.88%, 4/01/42   1,000   1,131,670  
County of Essex New York Industrial Development Agency, RB, International Paper Co. Project, Series A, AMT, 6.63%, 9/01/32   550   621,313  
County of Suffolk New York Industrial Development Agency, RB, KeySpan Generation LLC, Port Jefferson, AMT, 5.25%, 6/01/27   6,000   6,025,980  
New York Liberty Development Corp., RB, Goldman Sachs Headquarters, 5.25%, 10/01/35   4,230   4,969,446  
Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42 (a)   1,500   1,554,435  
Port Authority of New York & New Jersey, ARB, Continental Airlines, Inc. & Eastern Air Lines, Inc. Project, LaGuardia, AMT, 9.13%, 12/01/15   1,715   1,742,131  
_____________
    25,017,324  
 
County/City/Special District/School District  — 31.1%  
City of New York New York, GO:          
  Fiscal 2009, Series A-1, 4.75%, 8/15/25   750   830,482  
  Fiscal 2012, Sub-Series G-1, 5.00%, 4/01/29   750   857,685  
                   
Municipal Bonds Par
(000)		   Value  

New York (continued)

  
County/City/Special District/School District (continued)  
City of New York New York, GO  (concluded):          
  Fiscal 2014, Sub-Series D-1, 5.00%, 8/01/31 $ 690 $ 785,862  
  Series A-1, 5.00%, 8/01/35   1,000   1,115,610  
  Series D, 5.38%, 6/01/32   25   25,105  
  Series G-1, 6.25%, 12/15/18 (c)   485   574,856  
  Series G-1, 6.25%, 12/15/31   15   17,712  
  Sub-Series G-1, 5.00%, 4/01/28   630   723,026  
  Sub-Series I-1, 5.38%, 4/01/36   1,750   1,996,592  
City of New York New York, GO, Refunding:          
  Fiscal 2014, Series E, 5.50%, 8/01/25   1,280   1,591,603  
  Series E, 5.00%, 8/01/30   1,000   1,138,130  
  Series I, 5.00%, 8/01/30   1,000   1,145,570  
City of New York New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC):          
  5.00%, 11/15/35   250   255,915  
  5.00%, 11/15/44   3,000   3,070,980  
  4.75%, 11/15/45   500   502,675  
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   1,298,870  
  5.00%, 7/01/33   500   555,495  
City of New York New York Industrial Development Agency, RB, PILOT:          
  CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/42 (d)   1,960   612,265  
  CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/45 (d)   1,500   406,725  
  Queens Baseball Stadium (AGC), 6.38%, 1/01/39   150   172,643  
  Queens Baseball Stadium (AMBAC), 5.00%, 1/01/39   3,000   3,077,610  
  Yankee Stadium Project (NPFGC), 4.75%, 3/01/46   350   360,294  
                   

BlackRock New York Municipal Income TrustApril 30, 20151
 
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 (continued)  
City of New York New York Industrial Development Agency, Refunding ARB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/22 $   650 $ 722,416  
City of New York New York Transitional Finance Authority, RB, Future Tax Secured Bonds, Fiscal 2012, Sub-Series E-1, 5.00%, 2/01/42   2,500   2,813,225  
City of New York New York Transitional Finance Authority, Future Tax Secured Bonds, RB, 3.00%, 2/01/30   810   796,667  
Hudson Yards Infrastructure Corp., RB, Series A:          
  Senior, Fiscal 2012, 5.75%, 2/15/47   200   230,050  
  5.00%, 2/15/47   5,485   5,798,468  
  (AGC), 5.00%, 2/15/47   1,000   1,060,070  
  (AGM), 5.00%, 2/15/47   1,000   1,060,070  
  (NPFGC), 4.50%, 2/15/47   4,500   4,696,200  
Metropolitan Transportation Authority, Refunding RB, Transportation, Series D, 5.00%, 11/15/34   800   896,144  
New York Liberty Development Corp., Refunding RB:          
  2nd Priority, Bank of America Tower at 1 Bryant Park Project, Class 3, 6.38%, 7/15/49   1,200   1,367,760  
  2nd Priority, Bank of America Tower at One Bryant Park Project, Class 2, 5.63%, 7/15/47   2,000   2,261,000  
  3 World Trade Center Project, Class 2, 5.38%, 11/15/40 (a)   480   526,526  
  4 World Trade Center Project, 5.00%, 11/15/31   860   969,633  
  4 World Trade Center Project, 5.00%, 11/15/44   7,655   8,444,307  
  4 World Trade Center Project, 5.75%, 11/15/51   1,340   1,550,501  
  7 World Trade Center Project, Class 1, 4.00%, 9/15/35   1,935   2,071,746  
  7 World Trade Center Project, Class 2, 5.00%, 9/15/43   1,670   1,843,296  
                   
Municipal Bonds Par
(000)		   Value  

New York (continued)

  
County/City/Special District/School District (concluded)  
New York Liberty Development Corp., Refunding RB  (concluded):          
  7 World Trade Center Project, Class 3, 5.00%, 3/15/44 $ 2,070 $ 2,238,477  
_____________
    60,462,261  
Education  — 31.7%  
Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM), 4.63%, 10/01/40   1,100   1,164,482  
Buffalo & Erie County Industrial Land Development Corp., RB, 4.00%, 7/01/45   160   153,754  
Build New York City Resource Corp., Refunding RB, Packer Collegiate Institute, 4.00%, 6/01/45   500   481,340  
Build NYC Resource Corp., RB, South Bronx Charter School for International Cultures & The Arts Project, Series A, 5.00%, 4/15/33   900   922,536  
Build NYC Resource Corp., Refunding RB, City University New York-Queens College Student Residences, LLC Project, Series A, 5.00%, 6/01/38   250   281,450  
City of New York New York Trust for Cultural Resources, RB, Juilliard School, Series A, 5.00%, 1/01/39   750   832,297  
City of New York New York Trust for Cultural Resources, Refunding RB:          
  American Museum of Natural History, Series A, 5.00%, 7/01/37   225   257,339  
  Carnegie Hall, Series A, 4.75%, 12/01/39   2,000   2,157,940  
  Museum of Modern Art, Series 1A, 5.00%, 4/01/31   1,000   1,112,420  
City of Troy New York Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project, Series A, 5.13%, 9/01/40   3,135   3,429,220  
                   

BlackRock New York Municipal Income TrustApril 30, 20152
 
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)  
City of Yonkers New York Industrial Development Agency, RB, Sarah Lawrence College Project, Series A, 6.00%, 6/01/41 $ 625 $ 710,256  
County of Cattaraugus New York, RB, St. Bonaventure University Project, 5.00%, 5/01/34   170   182,480  
County of Dutchess New York Industrial Development Agency, RB, Bard College Civic Facility, Series A-2, 4.50%, 8/01/36   5,155   4,858,227  
County of Madison New York Capital Resource Corp., Refunding RB, Colgate University Project, Series A, 4.50%, 7/01/39   135   146,011  
County of Madison New York Industrial Development Agency, RB, Commons II LLC, Student Housing, Series A (CIFG), 5.00%, 6/01/33   275   284,840  
County of Monroe New York Industrial Development Corp., RB, University of Rochester Project, Series A, 5.00%, 7/01/31   1,900   2,120,438  
County of Monroe New York Industrial Development Corp., Refunding RB, University of Rochester Project, Series A, 5.00%, 7/01/38   320   357,693  
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   1,230,298  
County of Orange New York Funding Corp., Refunding RB, Mount St. Mary College Project, Series A:          
  5.00%, 7/01/37   360   381,535  
  5.00%, 7/01/42   220   230,648  
County of St. Lawrence New York Industrial Development Agency, RB, Clarkson University Project, 5.38%, 9/01/41   750   838,065  
County of Tompkins New York Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33   700   784,770  
                   
Municipal Bonds Par
(000)		   Value  

New York (continued)

  
Education (continued)  
Geneva Development Corp., Refunding RB, Hobart and William Smith Colleges, 5.25%, 9/01/44 $ 500 $ 568,575  
State of New York Dormitory Authority, Refunding RB, Barnard College:          
  Series A, 4.00%, 7/01/36   410   422,435  
  Series A, 5.00%, 7/01/33   530   612,733  
State of New York Dormitory Authority, ERB, Series B, 5.75%, 3/15/36   600   693,330  
State of New York Dormitory Authority, RB:          
  Convent of the Sacred Heart (AGM), 5.75%, 11/01/40   210   239,839  
  Convent of the Sacred Heart (AGM), 5.25%, 11/01/24   155   181,193  
  Convent of the Sacred Heart (AGM), 5.63%, 11/01/32   750   875,512  
  New York University Mount Sinai School of Medicine, 5.13%, 7/01/39   2,000   2,220,680  
  New York University, Series 1 (AMBAC), 5.50%, 7/01/40   1,440   1,870,358  
  New York University, Series A (AMBAC), 5.00%, 7/01/17 (c)   1,000   1,091,050  
  New York University, Series B, 5.00%, 7/01/37   1,250   1,400,725  
  State University Dormitory Facilities, Series A, 5.00%, 7/01/39   750   829,582  
  State University Dormitory Facilities, Series A, 5.00%, 7/01/41   2,000   2,218,520  
  Teachers College, Series B, 5.00%, 7/01/42   3,225   3,550,725  
  Touro College & University System, Series A, 5.25%, 1/01/34   800   890,376  
  Touro College & University System, Series A, 5.50%, 1/01/39   2,000   2,228,280  
  University of Rochester, Series A, 5.13%, 7/01/39   850   959,556  
                   

BlackRock New York Municipal Income TrustApril 30, 20153
 
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)  
State of New York Dormitory Authority, RB  (concluded):          
  University of Rochester, Series A, 5.75%, 7/01/39 $   650 $ 747,169  
  University of Rochester, Series B, 5.00%, 7/01/39   500   530,615  
State of New York Dormitory Authority, Refunding RB:          
  3rd General Resolution, State University Educational Facilities Issue, Series A, 5.00%, 5/15/29   2,000   2,304,080  
  Brooklyn Law School, 5.75%, 7/01/33   475   534,845  
  Cornell University, Series A, 5.00%, 7/01/40   1,000   1,144,510  
  Culinary Institute of America, 5.00%, 7/01/42   300   317,181  
  Fordham University, 4.00%, 7/01/30   555   575,291  
  Fordham University, 5.00%, 7/01/44   850   951,354  
  New York University, Series A, 5.00%, 7/01/37   1,790   2,005,838  
  Rochester Institute of Technology, 5.00%, 7/01/42   1,790   1,970,790  
  Rockefeller University, Series B, 4.00%, 7/01/38   775   811,371  
  Skidmore University, Series A, 5.00%, 7/01/28   75   85,256  
  Skidmore University, Series A, 5.25%, 7/01/29   85   98,403  
  St. Johns University, Series A, 5.00%, 7/01/34   250   284,598  
  St. Johns University. Series A, 5.00%, 7/01/37   1,000   1,134,700  
  State University Facilities, Series A, 5.25%, 7/01/30   2,355   2,766,112  
  State University Facilities, Series A, 5.25%, 7/01/32   445   519,858  
  Teachers College, 5.50%, 3/01/39   450   501,845  
Town of Hempstead New York Local Development Corp., Refunding RB, Adelphi University Project, 5.00%, 10/01/35   415   468,838  
_____________
  61,524,162  
                   
Municipal Bonds Par
(000)		   Value  

New York (continued)

  
Health  — 14.9%  
County of Dutchess New York Local Development Corp., Refunding RB, Health Quest System, Inc., Series A, 5.75%, 7/01/40 $ 300 $ 341,376  
County of Genesee New York Industrial Development Agency, Refunding RB, United Memorial Medical Center Project, 5.00%, 12/01/27   500   500,425  
County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project, Series A, 5.00%, 12/01/32   240   262,291  
County of Monroe New York Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40   1,650   1,911,294  
County of Nassau New York Local Economic Assistance Corp., Refunding RB, Winthrop University Hospital Association Project, 5.00%, 7/01/42   2,800   2,980,068  
County of Suffolk New York EDC, RB, Catholic Health Services, Series C, 5.00%, 7/01/32   230   255,896  
County of Suffolk New York Industrial Development Agency, Refunding RB, Jefferson's Ferry Project, 5.00%, 11/01/28   1,175   1,206,690  
County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien:          
  Remarketing, Series A, 5.00%, 11/01/30   3,500   3,818,220  
  Series B, 6.00%, 11/01/30   500   577,810  
County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project:          
  5.00%, 1/01/28   675   743,033  
  5.00%, 1/01/34   1,250   1,342,038  
State of New York Dormitory Authority, RB:          
  Hudson Valley Hospital (BHAC) (FHA), 5.00%, 8/15/36   750   810,060  
  New York State Association for Retarded Children, Inc., Series A, 6.00%, 7/01/32   500   581,785  
                   

BlackRock New York Municipal Income TrustApril 30, 20154
 
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 Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 7/01/32   200   227,120  
State of New York Dormitory Authority, RB  (concluded):          
  New York University Hospitals Center, Series A, 6.00%, 7/01/40 $ 500 $ 577,785  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.50%, 5/01/37   1,775   1,977,350  
  North Shore-Long Island Jewish Obligated Group, Series D, 4.25%, 5/01/39   1,000   1,035,530  
State of New York Dormitory Authority, Refunding RB:          
  Miriam Osborn Memorial Home Association, 5.00%, 7/01/29   290   309,160  
  Mount Sinai Hospital, Series A, 5.00%, 7/01/26   1,385   1,564,080  
  New York University Hospitals Center, Series A, 5.00%, 7/01/17 (c)   3,390   3,709,440  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32   1,750   1,927,835  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/41   1,000   1,097,030  
  North Shore-Long Island Jewish Obligated Group, Series E, 5.50%, 5/01/33   1,100   1,231,637  
_____________
    28,987,953  
 
Housing  — 2.0%  
City of New York New York Housing Development Corp., Refunding RB, M/F Housing, 8 Spruce Street, Class F, 4.50%, 2/15/48   925   963,933  
State of New York HFA, RB, M/F Housing, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39   1,500   1,519,635  
State of New York Mortgage Agency, RB, S/F Housing, 49th Series, 4.00%, 10/01/43   1,000   1,006,360  
                   
Municipal Bonds Par
(000)		   Value  

New York (continued)

  
Housing (concluded)  
State of New York Mortgage Agency, Refunding RB, 48th Series, 3.70%, 10/01/38 $   360 $ 351,166  
_____________
    3,841,094  
 
State  — 11.3%  
City of New York New York Transitional Finance Authority, BARB:          
  Fiscal 2015, Series S-1, 5.00%, 7/15/43   1,190   1,338,917  
  Series S-2 (NPFGC), 4.25%, 1/15/34   1,260   1,280,513  
City of New York New York Transitional Finance Authority, RB, Future Tax Secured, 5.00%, 2/01/32   5,000   5,727,250  
Sales Tax Asset Receivable Corp., Refunding RB, Fiscal 2015, Series A, 4.00%, 10/15/32   1,000   1,075,830  
State of New York Dormitory Authority, RB:          
  General Purpose, Series B, 5.00%, 3/15/42   4,380   4,894,431  
  General Purpose, Series C, 5.00%, 3/15/34   2,185   2,478,730  
  State Supported Debt, Series A, 5.00%, 3/15/44   360   408,816  
State of New York Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM), 5.00%, 10/01/35   395   436,767  
State of New York Thruway Authority, RB, Transportation, Series A, 5.00%, 3/15/32   320   363,142  
State of New York Thruway Authority, Refunding RB, 2nd General Highway & Bridge Trust, Series A, 5.00%, 4/01/32   2,500   2,835,325  
State of New York Urban Development Corp., RB, State Personal Income Tax, Series C, 5.00%, 3/15/30   885   1,022,396  
_____________
    21,862,117  
 
Tobacco  — 0.8%  
Chautauqua New York Tobacco Asset Securitization Corp., Refunding RB, 4.75%, 6/01/39   150   148,719  
                   

BlackRock New York Municipal Income TrustApril 30, 20155
 
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)

  
Tobacco (concluded)  
Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A, 6.25%, 6/01/41 (a) $   1,000 $ 1,016,920  
Niagara Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed:          
  5.25%, 5/15/34   250   279,952  
  5.25%, 5/15/40   110   122,196  
_____________
    1,567,787  
Transportation  — 19.4%  
Metropolitan Transportation Authority, RB:          
  Series A-1, 5.25%, 11/15/33   540   623,900  
  Series C, 6.50%, 11/15/28   1,000   1,186,700  
  Series D, 5.25%, 11/15/41   1,000   1,134,010  
  Series E, 5.00%, 11/15/38   4,000   4,452,120  
Metropolitan Transportation Authority, Refunding RB:          
  Series D, 5.25%, 11/15/30   910   1,065,501  
  Series F, 5.00%, 11/15/30   2,000   2,307,760  
Port Authority of New York & New Jersey, ARB:          
  Consolidated, 183rd Series, 4.00%, 6/15/44   500   510,730  
  JFK International Air Terminal LLC, Special Project, Series 6, AMT (NPFGC), 5.75%, 12/01/22   6,000   6,033,420  
  Special Project, JFK International Air Terminal LLC, Series 8, AMT (NPFGC), 6.00%, 12/01/42   1,000   1,176,260  
Port Authority of New York & New Jersey, Refunding ARB:          
  178th Series, AMT, 5.00%, 12/01/33   750   831,615  
  179th Series, 5.00%, 12/01/38   575   651,228  
  Consolidated, 146th Series, AMT (AGM), 4.50%, 12/01/34   500   513,870  
  Consolidated, 147th Series, AMT, 4.75%, 4/15/37   1,330   1,372,906  
  Consolidated, 177th Series, AMT, 4.00%, 1/15/43   1,970   1,972,502  
  Consolidated, 178th Series, AMT, 5.00%, 12/01/43   500   546,655  
                   
Municipal Bonds Par
(000)		   Value  

New York (continued)

  
Transportation (concluded)  
Port Authority of New York & New Jersey, Refunding RB, 5.00%, 5/01/45 $   1,150 $ 1,307,009  
State of New York Thruway Authority, Refunding RB:          
  General, 5.00%, 1/01/32   2,850   3,255,783  
  General, Series I, 5.00%, 1/01/27   1,000   1,154,000  
  General, Series I, 5.00%, 1/01/37   2,920   3,255,566  
  General, Series I, 5.00%, 1/01/42   280   307,922  
  Series J, 5.00%, 1/01/41   2,000   2,216,260  
Triborough Bridge & Tunnel Authority, Refunding RB (d):          
  CAB, Sub-Series A, 0.00%, 11/15/32   845   439,974  
  General, Series B, 0.00%, 11/15/32   2,500   1,354,600  
_____________
    37,670,291  
Utilities  — 8.4%  
City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Series B, 5.00%, 6/15/36   750   786,487  
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System:          
  2nd General Resolution, Fiscal 2011, Series BB, 5.00%, 6/15/31   1,000   1,149,190  
  Series A, 4.75%, 6/15/30   1,500   1,614,735  
City of New York New York Water & Sewer System, Refunding RB, Series D, 5.00%, 6/15/39   2,500   2,514,975  
Long Island Power Authority, RB, General:          
  Electric Systems, Series C (CIFG), 5.25%, 9/01/29   2,000   2,427,160  
  Series A (AGM), 5.00%, 5/01/36   500   554,560  
Long Island Power Authority, Refunding RB, Electric System, Series A, 5.75%, 4/01/39   4,000   4,527,600  
                   

BlackRock New York Municipal Income TrustApril 30, 20156
 
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)  
State of New York Environmental Facilities Corp., Refunding RB, Revolving Funds New York City Municipal Water, Series B, 5.00%, 6/15/36 $   350 $ 392,623  
Utility Debt Securitization Authority, Refunding RB, Restructuring, Series E, 5.00%, 12/15/41   2,000   2,287,220  
_____________
    16,254,550  
_____________
Total Municipal Bonds in New York   257,187,539  
 

Puerto Rico — 1.4%

  
Housing  — 1.4%  
Puerto Rico Housing Finance Authority, Refunding RB, M/F Housing, Subordinate, Capital Fund Modernization, 5.13%, 12/01/27   2,605   2,789,070  
 
Total Municipal Bonds — 133.9%   259,976,609  
 
   

Municipal Bonds Transferred to

Tender Option Bond Trusts (e)

  
 

New York — 27.1%

  
County/City/Special District/School District  — 5.5%  
City of New York New York, GO:          
  Sub-Series G-1, 5.00%, 4/01/29   4,370   4,997,445  
  Sub-Series I-1, 5.00%, 3/01/36   1,500   1,700,145  
City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D-1, 5.00%, 11/01/38   825   928,562  
New York Liberty Development Corp., Refunding RB, 7 World Trade Center Project, Class 1, 5.00%, 9/15/40   2,610   2,959,766  
_____________
    10,585,918  
Education  — 2.1%  
City of New York New York Trust for Cultural Resources, Refunding RB, Wildlife Conservation Society, Series A, 5.00%, 8/01/33   3,527   4,023,759  
                   

Municipal Bonds Transferred to

Tender Option Bond Trusts (e)

 Par
(000)		   Value  

New York (continued)

  
State  — 2.4%  
City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.25%, 1/15/39 $ 660 $ 738,314  
Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (f)   1,250   1,437,696  
Sales Tax Asset Receivable Corp., Refunding RB, Fiscal 2015, Series A, 5.00%, 10/15/31   750   889,695  
State of New York Dormitory Authority, RB, General Purpose, Series C, 5.00%, 3/15/41   1,500   1,657,905  
_____________
    4,723,610  
Transportation  — 5.4%  
New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43   6,495   7,434,047  
Port Authority of New York & New Jersey, ARB, Consolidated, 169th Series, 5.00%, 10/15/26   1,500   1,684,395  
State of New York Thruway Authority, Refunding RB, Transportation, Series A, 5.00%, 3/15/31   1,180   1,352,150  
_____________
    10,470,592  
Utilities  — 11.7%  
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   1,367,098  
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System:          
  2nd General Resolution, Series BB, 5.00%, 6/15/44   3,511   3,918,881  
  2nd General Resolution, Series FF-2, 5.50%, 6/15/40   810   931,211  
  2nd General Resolution, Series HH, 5.00%, 6/15/32   5,310   6,041,665  
  Series A, 4.75%, 6/15/30   2,500   2,691,225  
                   

BlackRock New York Municipal Income TrustApril 30, 20157
 
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 Trusts (e)

 Par
(000)		   Value

New York (concluded)
Utilities (concluded)
Utility Debt Securitization Authority, Refunding RB, 5.00%, 12/15/41 $   6,868 $ 7,854,231
_____________
    22,804,311
 

Total Municipal Bonds Transferred to

Tender Option Bond Trusts — 27.1%

   52,608,190
Total Long-Term Investments
(Cost — $290,524,368) — 161.0%		   312,584,799
 
Short-Term Securities Shares
BIF New York Municipal Money Fund, 0.00% (g)(h)   884,124   884,124
 
 
                 
   
Value		  
Total Short-Term Securities
(Cost — $884,124) — 0.5%		 $ 884,124  
 
Total Investments
(Cost — $291,408,492*) — 161.5%		   313,468,923  
Other Assets Less Liabilities — 2.1%   4,131,416  
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (14.9%)   (28,965,423)  
VMTP Shares, at Liquidation Value — (48.7%)   (94,500,000)  
 
Net Assets Applicable to Common Shares — 100.0% $ 194,134,916  
_____________
                   

 

* As of April 30, 2015, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost $ 263,154,685  
Gross unrealized appreciation $ 22,562,599  
Gross unrealized depreciation   (1,208,942 )
Net unrealized appreciation $ 21,353,657  
 


Notes to Schedule of Investments

(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Variable rate security. Rate shown is as of report date.
(c) U.S. 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.
(d) Zero-coupon bond.
(e) Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.
(f) 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 or in the event of a default on the security. In the case of a shortfall or default, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expires on 2/15/2019 is $661,933.
(g) During the period ended April 30, 2015, investments in issuers considered to be an affiliate of the Trust 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, 2014		   Net
Activity		   Shares
Held at
April 30, 2015		   Income  
 
  BIF New York Municipal Money Fund   874,210   9,914   884,124   —  
 

 

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

 


BlackRock New York Municipal Income TrustApril 30, 20158
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
   

 

Portfolio Abbreviations

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
EDC Economic Development Corp.
ERB Education Revenue Bonds
FHA Federal Housing Administration
GO General Obligation Bonds
HFA Housing Finance Agency
M/F Multi-Family
NPFGC National Public Finance Guarantee Corp.
PILOT Payment in Lieu of Taxes
RB Revenue Bonds
S/F Single-Family
SONYMA State of New York Mortgage Agency

 


•
As of April 30, 2015, financial futures contracts outstanding were as follows:

 

 
Contracts
Short		 Issue Exchange Expiration Notional
Value		   Unrealized
Depreciation		  
(206) 10-Year U.S. Treasury Note Chicago Board of Trade June 2015 $ 26,445,250 $ (232,818)  

 

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 the investment advisor. 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 TrustApril 30, 20159
 
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. 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. 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. The three levels of the fair value hierarchy are as follows:

  • Level 1 — unadjusted quoted prices 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)
 
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. 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 semi-annual report.

As of April 30, 2015, the following tables summarize the Trust's investments and derivative financial instruments categorized in the disclosure hierarchy:

 

  Level 1 Level 2 Level 3 Total
Assets:          
Investments:        
Long-Term Investments 1 — $312,584,799 — $312,584,799
Short-Term Securities $884,124 — — 884,124
Total $884,124 $312,584,799 — $313,468,923

 

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 $(232,818) — — $(232,818)
2 Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

 

 


BlackRock New York Municipal Income TrustApril 30, 201510
 
Schedule of Investments (concluded) BlackRock New York Municipal Income Trust (BNY)
   
The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of April 30, 2015, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

  Level 1 Level 2 Level 3 Total
Assets:          
Cash pledged for financial futures contracts $293,000 — — $293,000
Liabilities:          
TOB trust certificates — $  (28,960,581) — (28,960,581)
VMTP Shares — (94,500,000) — (94,500,000)
Total $293,000 $(123,460,581) $— $(123,167,581)

During the period ended April 30, 2015, there were no transfers between levels.

 

 


BlackRock New York Municipal Income TrustApril 30, 201511
 
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: June 22, 2015
     

 

  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 22, 2015
     
  By: /s/ Neal J. Andrews                          
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Municipal Income Trust

 

Date: June 22, 2015