N-Q 1 d368427dnq.htm BLACKROCK NEW YORK MUNICIPAL INCOME TRUST BlackRock New York Municipal Income 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 811-10337

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: 07/31/2017

Date of reporting period: 4/30/2017

Item 1 – Schedule of Investments

Schedule of Investments April 30, 2017 (Unaudited)

   

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

New York — 130.9%

                 

Corporate — 3.4%

     

Build NYC Resource Corp., Refunding RB, Pratt Paper, Inc. Project, AMT, 5.00%, 1/01/35 (a)

    $ 280     $ 295,605  

City of New York New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/28

      795       846,309  

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

      550       576,257  

County of Onondaga New York Industrial Development Agency, RB, Bristol-Meyers Squibb Co. Project, AMT, 5.75%, 3/01/24

      1,000       1,207,740  

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

      1,655       2,002,881  

Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42 (a)

      1,500       1,508,130  
    

 

 

  
               6,436,922  

County/City/Special District/School District — 30.5%

 

  

Brooklyn Arena Local Development Corp., Refunding RB, Barclays Center Project, Series A, 5.00%, 7/15/42

      1,070       1,168,879  

City of New York New York, GO:

     

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

      750       785,828  

Series A-1, 5.00%, 8/01/35

      1,000       1,120,000  

Series D, 5.38%, 6/01/32

      25       25,091  

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

      15       16,281  

Sub-Series D-1, Fiscal 2014, 5.00%, 8/01/31

      690       794,514  

Sub-Series G-1, 6.25%, 12/15/18 (b)

      485       526,535  

Sub-Series G-1, 5.00%, 4/01/28

      630       723,492  

Sub-Series G-1, 5.00%, 4/01/29

      750       858,255  

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

      530       571,377  

Refunding Series E, 5.00%, 8/01/30

      1,000       1,142,970  
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

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

 

City of New York New York, GO (continued):

     

Refunding Series I, 5.00%, 8/01/30

    $ 1,000     $ 1,148,920  

Refunding, Series E, 5.50%, 8/01/25

      1,280       1,562,765  

City of New York New York Convention Center Development Corp., RB, CAB, Sub Lien, Hotel Unit Fee, Series B (AGM), 0.00%, 11/15/55 (c)

      2,000       377,520  

City of New York New York Convention Center Development Corp., Refunding RB, Hotel Unit Fee Secured:

     

5.00%, 11/15/40

      2,500       2,826,175  

5.00%, 11/15/45

      3,700       4,179,779  

City of New York New York Industrial Development Agency, RB, PILOT:

     

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/42 (c)

      1,960       704,267  

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/45 (c)

      1,500       473,790  

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

      150       162,569  

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

      3,000       3,006,450  

Queens Baseball Stadium (AMBAC),
5.00%, 1/01/46

      175       175,376  

Yankee Stadium Project (NPFGC),
4.75%, 3/01/46

      350       350,966  

Yankee Stadium Project (NPFGC),
5.00%, 3/01/46

      500       502,905  

City of New York New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/22

      650       712,836  

City of Niagara Falls New York, GO, Refunding, (BAM), 3.00%, 5/15/37

      400       353,684  

County of Nassau New York, GO, Series A, 5.00%, 1/15/31

      1,000       1,167,410  

Hudson Yards Infrastructure Corp., RB, Series A:

     

5.00%, 2/15/47

      5,485       5,574,076  

5.75%, 2/15/47

      200       227,278  

(AGC), 5.00%, 2/15/47

      1,000       1,007,100  
 

 

                
   BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017    1

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

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

 

Hudson Yards Infrastructure Corp., RB, Series A (continued):

     

(AGM), 5.00%, 2/15/47

    $ 1,000     $ 1,007,100  

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

      4,500       4,508,820  

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       2,192,740  

2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3,
6.38%, 7/15/49

      1,200       1,304,244  

3 World Trade Center Project, Class 2,
5.38%, 11/15/40 (a)

      480       518,400  

4 World Trade Center Project,
5.00%, 11/15/31

      860       966,821  

4 World Trade Center Project,
5.00%, 11/15/44

      7,655       8,434,585  

4 World Trade Center Project,
5.75%, 11/15/51

      1,340       1,525,456  

7 World Trade Center Project, Class 1,
4.00%, 9/15/35

      1,935       2,060,194  

7 World Trade Center Project, Class 2,
5.00%, 9/15/43

      1,420       1,574,539  

7 World Trade Center Project, Class 3,
5.00%, 3/15/44

      2,070       2,236,076  
    

 

 

  
               58,576,063  

Education — 29.9%

 

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

      1,100       1,145,540  

Build NYC Resource Corp., RB, The Chapin School Ltd. Project, 5.00%, 11/01/26

      300       373,848  

Build NYC Resource Corp., Refunding RB:

     

City University New York-Queens College Student Residences, LLC Project, Series A, 5.00%, 6/01/38

      250       281,550  

New York Law School Project, 5.00%, 7/01/41

      400       429,356  

New York Law School Project, 4.00%, 7/01/45

      735       719,146  
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     $ 795,427  

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       252,610  

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

      2,000       2,146,200  

Museum of Modern Art, Series 1A, 5.00%, 10/01/18 (b)

      1,000       1,057,990  

City of Troy New York Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project:

     

Series A, 5.13%, 9/01/40

      3,135       3,429,815  

Series B, 4.00%, 8/01/35

      470       483,282  

City of Yonkers New York Industrial Development Agency, RB, Sarah Lawrence College Project, Series A, 6.00%, 6/01/19 (b)

      625       688,419  

County of Cattaraugus New York, RB, St. Bonaventure University Project, 5.00%, 5/01/34

      170       182,232  

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

      2,155       1,733,784  

County of Dutchess New York Local Development Corp., Refunding RB, Vassar College Project:

     

5.00%, 7/01/42

      395       454,092  

4.00%, 7/01/46

      745       765,048  

County of Monroe New York Industrial Development Corp., RB, University of Rochester Project, Series A, 5.00%, 7/01/21 (b)

      1,900       2,182,245  

County of Monroe New York Industrial Development Corp., Refunding RB, University of Rochester Project:

     

Series A, 5.00%, 7/01/38

      320       359,850  

Series B, 3.63%, 7/01/36

      135       136,068  
 

 

                
2    BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017   

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Education (continued)

 

County of Nassau New York Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 4.75%, 3/01/20 (b)

    $ 1,165     $ 1,279,158  

County of Onondaga New York Trust for Cultural Resources, Refunding RB, Abby Lane Housing Corporation Project, Series 2017, 5.00%, 5/01/40

      355       394,565  

County of Orange New York Funding Corp., Refunding RB, Mount St. Mary College Project, Series A:

     

5.00%, 7/01/37

      360       378,205  

5.00%, 7/01/42

      220       230,391  

County of St. Lawrence New York Industrial Development Agency, RB, Clarkson University Project, 5.38%, 9/01/41

      750       845,737  

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

      700       779,786  

Geneva Development Corp., Refunding RB, Hobart and William Smith Colleges, 5.25%, 9/01/44

      500       556,565  

State of New York Dormitory Authority, RB:

     

5.00%, 3/15/30

      1,000       1,202,860  

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

      155       177,683  

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

      750       855,787  

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

      210       237,766  

New York University Mount Sinai School of Medicine, 5.13%, 7/01/19 (b)

      2,000       2,172,960  

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

      1,440       1,876,262  

New York University, Series B, 5.00%, 7/01/37

      1,250       1,413,087  

Series B, 5.75%, 3/15/36

      600       651,546  

State University Dormitory Facilities, Series A, 5.00%, 7/01/19 (b)

      750       813,360  

State University Dormitory Facilities, Series A, 5.00%, 7/01/41

      2,000       2,224,300  
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Education (continued)

 

State of New York Dormitory Authority, RB (continued):

     

Teachers College, Series B, 5.00%, 7/01/42

    $ 1,225     $ 1,348,370  

Touro College & University System, Series A, 5.25%, 1/01/34

      800       869,592  

Touro College & University System, Series A, 5.50%, 1/01/39

      2,000       2,190,620  

University of Rochester, Series A,
5.13%, 7/01/19 (b)

      740       803,825  

University of Rochester, Series A,
5.75%, 7/01/19 (b)(d)

      565       621,302  

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

      110       118,685  

University of Rochester, Series A,
5.75%, 7/01/39

      85       92,347  

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       2,311,460  

Barnard College, Series A, 5.00%, 7/01/33

      530       603,437  

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

      475       510,768  

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

      800       884,392  

Culinary Institute of America, 5.00%, 7/01/42

      300       316,464  

Fordham University, 5.00%, 7/01/44

      850       950,827  

Icahn School of Medicine at Mount Sinai, Series A, 5.00%, 7/01/35

      1,380       1,538,452  

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

      1,790       2,023,541  

Rochester Institute of Technology,
5.00%, 7/01/42

      1,790       1,982,962  

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

      75       85,453  

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

      85       97,628  

St. John’s University, Series A, 5.00%, 7/01/37

      835       935,943  

State University Dormitory Facilities, Series A, 5.25%, 7/01/30

      2,355       2,733,590  
 

 

                
   BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017    3

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Education (continued)

     

State of New York Dormitory Authority, Refunding RB (continued):

     

State University Dormitory Facilities, Series A, 5.25%, 7/01/32

    $ 445     $ 509,943  

State University Dormitory Facilities, Series A, 5.00%, 7/01/46

      810       924,396  

Teachers College, 5.50%, 3/01/19 (b)

      450       486,599  

St. John’s Univerisity, Series A, 5.00%, 7/01/34

      250       280,605  

Town of Hempstead New York Local Development Corp., Refunding RB, Adelphi University Project, 5.00%, 10/01/35

      415       462,559  
    

 

 

  
               57,390,280  

Health — 14.1%

     

County of Dutchess New York Local Development Corp., RB, Health Quest Systems, Inc., Series B:

     

3.00%, 7/01/36

      390       340,018  

4.00%, 7/01/41

      2,585       2,592,781  

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

      300       328,032  

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

      465       465,390  

County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project, Series A, 5.00%, 12/01/32

      240       263,369  

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

      1,650       1,877,535  

County of Nassau New York Local Economic Assistance Corp., Refunding RB, Winthrop University Hospital Association Project, 5.00%, 7/01/42

      2,800       2,986,172  
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Health (continued)

     

County of Suffolk New York EDC, RB, Catholic Health Services, Series C, 5.00%, 7/01/32

    $ 230     $ 251,102  

County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien:

     

Remarketing, Series A, 5.00%, 11/01/30

      3,130       3,394,172  

Series B, 6.00%, 11/01/20 (b)

      435       505,270  

Series B, 6.00%, 11/01/30

      65       72,192  

County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project:

     

5.00%, 1/01/28

      675       746,050  

5.00%, 1/01/34

      1,250       1,347,025  

State of New York Dormitory Authority, RB:

     

General Purpose, Series A, 5.00%, 2/15/42

      1,500       1,715,580  

Hudson Valley Hospital (BHAC) (FHA),
5.00%, 8/15/17 (b)

      750       758,445  

New York State Association for Retarded Children, Inc., Series A,
6.00%, 7/01/19 (b)

      500       553,075  

New York State Association for Retarded Children, Inc., Series B (AMBAC),
6.00%, 7/01/19 (b)

      200       221,046  

New York University Hospitals Center, Series A, 6.00%, 7/01/20 (b)

      500       573,190  

North Shore-Long Island Jewish Obligated Group, Series D, 4.25%, 5/01/39

      500       522,700  

State of New York Dormitory Authority, Refunding RB:

     

Miriam Osborn Memorial Home Association, 5.00%, 7/01/29

      290       302,644  

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

      1,385       1,518,902  

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32

      1,750       1,932,770  

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/41    

      1,000       1,090,000  
 

 

                
4    BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017   

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Health (continued)

 

State of New York Dormitory Authority, Refunding RB (continued):

     

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/43

    $ 1,430     $ 1,565,092  

North Shore-Long Island Jewish Obligated Group, Series E, 5.50%, 5/01/33

      1,100       1,170,708  
    

 

 

  
               27,093,260  

Housing — 2.7%

 

City of New York New York Housing Development Corp., RB, M/F Housing, Fund Grant Program, New York City Housing Authority Program, Series B1:

     

5.25%, 7/01/32

      1,140       1,294,561  

5.00%, 7/01/33

      500       555,670  

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       956,200  

State of New York HFA, RB:

     

Affordable Housing, Series E (SONYMA), 4.15%, 11/01/47

      495       504,321  

M/F Housing, Affordable Housing, Series D (SONYMA), 3.20%, 11/01/46

      300       266,760  

M/F Housing, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39

      1,500       1,511,355  
    

 

 

  
               5,088,867  

State — 10.2%

 

City of New York New York Transitional Finance Authority, BARB, Series S-2 (NPFGC),
4.25%, 1/15/34

      1,015       1,017,152  

City of New York New York Transitional Finance Authority, RB, Future Tax Secured, 5.00%, 2/01/32

      5,000       5,742,500  

City of New York New York Transitional Finance Authority Future Tax Secured, RB, Fiscal 2012, Sub-Series E-1, 5.00%, 2/01/42

      2,500       2,792,925  
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

State (continued)

 

State of New York Dormitory Authority, RB, General Purpose:

     

Series B, 5.00%, 3/15/42

    $ 4,380     $ 4,872,399  

Series C, 5.00%, 3/15/34

      2,185       2,445,190  

State of New York Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM), 5.00%, 10/01/18 (b)

      395       417,847  

State of New York Urban Development Corp., RB, State Personal Income Tax, Series C:

     

5.00%, 3/15/30

      885       1,023,927  

5.00%, 3/15/32

      1,000       1,151,250  
    

 

 

  
               19,463,190  

Tobacco — 2.0%

 

Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A,
6.25%, 6/01/41 (a)

      1,000       1,039,930  

Counties of New York Tobacco Trust VI, Refunding RB:

     

Settlement Pass-Through Turbo, Series C, 4.00%, 6/01/51

      1,500       1,397,760  

Tobacco Settlement Pass-Through, Series B, 5.00%, 6/01/45

      130       137,657  

County of Chautauqua New York Tobacco Asset Securitization Corp., Refunding RB, 4.75%, 6/01/39

      150       151,841  

County of Niagara New York Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed:

     

5.25%, 5/15/34

      250       276,453  

5.25%, 5/15/40

      110       120,418  

Westchester Tobacco Asset Securitization, Refunding RB, Tobacco Settlement Bonds, Sub-Series C, 4.00%, 6/01/42

      750       752,452  
    

 

 

  
               3,876,511  

Transportation — 28.9%

 

Metropolitan Transportation Authority, RB:

     

Series A-1, 5.25%, 11/15/33

      540       622,123  

Series C, 6.50%, 11/15/28

      195       211,610  

Series D, 5.25%, 11/15/41

      1,000       1,133,200  
 

 

                
   BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017    5

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Transportation (continued)

 

Metropolitan Transportation Authority, RB (continued):

     

Series E, 5.00%, 11/15/38

    $ 4,000     $ 4,457,200  

Metropolitan Transportation Authority, Refunding RB:

     

Green Bonds, Series A-1, 4.00%, 11/15/46

      315       320,749  

Green Bonds, Series A-1, 5.25%, 11/15/56

      750       846,593  

Series D, 5.25%, 11/15/30

      910       1,061,015  

Series F, 5.00%, 11/15/30

      2,000       2,311,000  

Series F, 5.00%, 11/15/35

      500       568,430  

Transportation, Series D, 5.00%, 11/15/34

      800       889,408  

Metropolitan Transportation Authority Hudson Rail Yards Trust Obligations, Refunding RB, Series A:

     

5.00%, 11/15/56

      2,695       2,921,245  

5.00%, 11/15/51

      230       247,687  

New York Transportation Development Corp., ARB, LaGuardia Airport Terminal B Redevelopment Project, Series A, AMT:

     

5.00%, 7/01/46

      2,260       2,422,200  

5.25%, 1/01/50

      2,140       2,319,032  

(AGM), 4.00%, 7/01/41

      800       787,768  

New York Transportation Development Corp., Refunding RB, American Airlines, Inc., AMT, 5.00%, 8/01/31

      2,305       2,422,209  

Port Authority of New York & New Jersey, ARB, JFK International Air Terminal LLC, Special Project, AMT (NPFGC):

     

Series 6, 5.75%, 12/01/22

      6,000       6,073,800  

Series 8, 6.00%, 12/01/42

      1,000       1,122,780  

Port Authority of New York & New Jersey, Refunding ARB:

     

178th Series, AMT, 5.00%, 12/01/33

      750       831,518  

179th Series, 5.00%, 12/01/38

      575       653,982  

Consolidated, 147th Series, AMT,
4.75%, 4/15/37

      1,330       1,335,759  

Consolidated, 177th Series, AMT,
4.00%, 1/15/43

      640       648,787  

Consolidated, 178th Series, AMT,
5.00%, 12/01/43

      500       543,795  
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Transportation (continued)

 

Port Authority of New York & New Jersey, Refunding ARB (continued):

     

Consolidated, 189th Series,
5.00%, 5/01/45

    $ 1,150     $ 1,295,210  

Consolidated, 195th Series, AMT,
5.00%, 4/01/36

      750       846,705  

State of New York Thruway Authority, RB, Junior Lien, Series A, 5.25%, 1/01/56

      2,185       2,473,901  

State of New York Thruway Authority, Refunding RB, General:

     

2nd Highway & Bridge Trust, Series A,
5.00%, 4/01/32

      2,500       2,827,500  

Series I, 5.00%, 1/01/27

      1,000       1,138,020  

Series I, 5.00%, 1/01/37

      1,760       1,950,485  

Series I, 5.00%, 1/01/42

      280       309,652  

Series J, 5.00%, 1/01/41

      2,000       2,210,940  

Series K, 5.00%, 1/01/32

      2,575       2,940,779  

Triborough Bridge & Tunnel Authority, RB:

     

Series A, 5.00%, 11/15/42

      1,000       1,154,530  

Series B, 5.00%, 11/15/40

      350       399,875  

Series B, 5.00%, 11/15/45

      310       352,678  

Triborough Bridge & Tunnel Authority, Refunding RB:

     

CAB, Sub-Series A, 0.00%, 11/15/32 (c)

      845       494,350  

General, CAB, Series B, 0.00%, 11/15/32 (c)

      1,700       1,008,032  

General, Series A, 5.25%, 11/15/45

      590       681,993  

General, Series A, 5.00%, 11/15/50

      500       562,645  
    

 

 

  
               55,399,185  

Utilities — 9.2%

 

City of New York New York Municipal Water & Sewer System, Refunding RB, Series A, 4.75%, 6/15/30

      3,245       3,260,511  

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       1,112,420  

Fiscal 2015, Series HH, 5.00%, 6/15/39

      1,000       1,141,770  
 

 

                
6    BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017   

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Utilities (continued)

 

Long Island Power Authority, RB, General, Electric Systems:

     

Series A (AGM), 5.00%, 5/01/36

    $ 500     $ 553,845  

Series C (CIFG), 5.25%, 9/01/29

      2,000       2,418,260  

Long Island Power Authority, Refunding RB:

     

Electric System, Series A, 5.75%, 4/01/39

      4,000       4,295,400  

Electric Systems, Series B, 5.00%, 9/01/41

      200       223,890  

Electric Systems, Series B, 5.00%, 9/01/46

      895       997,370  

State of New York Environmental Facilities Corp., Refunding RB, Revolving Funds, New York City Municipal Water, Series B, 5.00%, 6/15/36

      350       395,416  

Utility Debt Securitization Authority, Refunding RB, Restructuring:

     

3.00%, 12/15/32

      1,000       1,006,590  

Series E, 5.00%, 12/15/41

      2,000       2,284,020  
    

 

 

  
               17,689,492  
Total Municipal Bonds in New York              251,013,770  
    

Puerto Rico — 2.6%

                 

Housing — 1.4%

 

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

      2,605       2,744,472  

Tobacco — 1.2%

     

Children’s Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds, 5.63%, 5/15/43

      2,220       2,221,265  
Total Municipal Bonds in Puerto Rico       4,965,737  
Total Municipal Bonds — 133.5%       255,979,507  

Municipal Bonds Transferred to

Tender Option Bond Trusts (e)

   

Par  

(000)

     Value  

New York — 30.3%

                 

County/City/Special District/School District — 10.3%

 

City of New York New York, GO:

     

Sub-Series G-1, 5.00%, 4/01/29

    $ 4,370     $ 5,000,766  

Sub-Series I-1, 5.00%, 3/01/36

      1,500       1,688,205  

City of New York New York Convention Center Development Corp., Refunding RB, Hotel Unit Fee Secured, 5.00%, 11/15/32

      1,200       1,387,584  

Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (f)

      1,250       1,420,359  

New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43

      6,495       7,328,603  

New York Liberty Development Corp., Refunding RB, 7 World Trade Center Project, Class 1, 5.00%, 9/15/40

      2,610       2,938,651  
    

 

 

  
               19,764,168  

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       4,085,905  

State — 2.7%

 

City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-3,
5.25%, 1/15/39

      660       702,423  

City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D-1, 5.00%, 11/01/38

      825       924,190  

Sales Tax Asset Receivable Corp., Refunding RB, Fiscal 2015, Series A:

     

5.00%, 10/15/31

      750       882,525  

4.00%, 10/15/32

      1,000       1,083,120  
 

 

                
   BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017    7

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

Municipal Bonds Transferred to

Tender Option Bond Trusts (e)

   

Par  

(000)

     Value  

New York (continued)

                 

State (continued)

     

State of New York Dormitory Authority, RB, General Purpose, Series C, 5.00%, 3/15/41

    $ 1,500     $ 1,655,475  
    

 

 

  
               5,247,733  

Transportation — 3.4%

     

Port Authority of New York & New Jersey, ARB, Consolidated, 169th Series, AMT, 5.00%, 10/15/26

      1,500       1,680,135  

Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55

      1,455       1,664,040  

State of New York Thruway Authority, Refunding RB, Transportation, Personal Income Tax, Series A, 5.00%, 3/15/31

      1,180       1,343,500  

Triborough Bridge & Tunnel Authority, Refunding RB, Series A, 5.00%, 11/15/46

      1,500       1,715,685  
    

 

 

  
               6,403,360  

Utilities — 11.8%

     

City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A:

     

5.75%, 6/15/18 (b)

      276       291,078  

5.75%, 6/15/40

      923       973,493  

City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution:

     

Fiscal 2011, Series HH, 5.00%, 6/15/32

      5,310       5,976,405  

Fiscal 2012, Series BB, 5.00%, 6/15/44

      3,511       3,914,353  

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

      810       882,179  

Municipal Bonds Transferred to

Tender Option Bond Trusts (e)

   

Par  

(000)

     Value  

New York (continued)

                 

Utilities (continued)

     

Utility Debt Securitization Authority, Refunding RB:

     

5.00%, 12/15/41

    $ 6,868     $ 7,843,238  

Restructuring, 5.00%, 12/15/36

      1,997       2,313,437  

Restructuring, Series B, 4.00%, 12/15/35

      370       395,079  
    

 

 

  
               22,589,262  

Total Municipal Bonds Transferred to

Tender Option Bond Trusts — 30.3%

 

 

     58,090,428  
Total Long-Term Investments
(Cost — $295,900,246) — 163.8%		       314,069,935  
    
                  
Short-Term Securities   
Shares		         

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.70% (g)(h)

      699,629       699,769  
Total Short-Term Securities
(Cost — $699,769) — 0.4%		       699,769  

Total Investments

(Cost — $296,600,015*) — 164.2%

 

 

     314,769,704  
Other Assets Less Liabilities — 1.9%       3,591,482  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (16.8)%

 

     (32,118,976 ) 

VMTP Shares, at Liquidation Value — (49.3)%

 

     (94,500,000 ) 
    

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 191,742,210  
    

 

 

  

*  As of April 30, 2017, gross unrealized appreciation and depreciation

    based on cost for U.S. federal income tax purposes were as follows:

   

Tax cost

 

   $ 264,643,010  
    

 

 

  

Gross unrealized appreciation

 

   $ 19,548,758  

Gross unrealized depreciation

 

     (1,469,263 ) 
    

 

 

  

Net unrealized appreciation

 

   $ 18,079,495  
    

 

 

  
 

 

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)   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.

 

(c)   Zero-coupon bond.

 

(d)   Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.

 

                
8    BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017   

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

(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. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreement, which expires on February 15, 2019, is $661,933.

 

(g)   During the period ended April 30, 2017, 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,

2016

        Net
Activity		       

Shares Held
at April 30,

2017

        Value at
April 30,
2017		        Income        Net
Realized
Gain1		        Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

        214,518          485,111          699,629        $ 699,769        $ 7,438        $ 1,006          —    
1 Includes net capital gain distributions.                 

 

(h)   Current yield as of period end.

 

For Trust compliance purposes, the Trust’s sector classifications refer to 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 adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

Derivative Financial Instruments Outstanding as of Period End

 

 

Futures Contracts

  

 

Contracts
Short

        Issue   Expiration     Notional
Value		     Unrealized
Depreciation		  
  (36 )       5-Year U.S. Treasury Note     June 2017     $ 4,262,625     $ (18,012 ) 
  (87 )       10-Year U.S. Treasury Note     June 2017     $ 10,937,531       (89,796 ) 
  (57 )       Long U.S. Treasury Bond     June 2017     $ 8,719,219       (108,382 ) 
  (12 )       Ultra U.S. Treasury Bond     June 2017     $ 1,955,250       (26,965 ) 
  Total              $ (243,155 ) 
          

 

 

  

 

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
BAM    Build America Mutual Assurance Co.
BARB    Building Aid Revenue Bonds
BHAC    Berkshire Hathaway Assurance Corp.
CAB    Capital Appreciation Bonds
CIFG    CIFG Assurance North America, Inc.
EDC    Economic Development Corp.
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

 

                
   BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017    9

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

 

RB    Revenue Bonds
SONYMA    State of New York Mortgage Agency

 

                
10    BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017   

Schedule of Investments (continued)

   

BlackRock New York Municipal Income Trust (BNY)

 

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value 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. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value 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 investments and derivative financial instruments 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, refer to the Trust’s most recent financial statements as contained in its semi-annual report.

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 Investments1

     —     $ 314,069,935       —     $ 314,069,935  

Short-Term Securities

   $ 699,769       —       —       699,769  
 

 

 

  

Total

   $ 699,769     $ 314,069,935       —     $ 314,769,704  
 

 

 

  
       
Derivative Financial Instruments2                                

Liabilities:

       

Interest rate contracts

  $ (243,155 )      —       —     $ (243,155 ) 

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

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

 

                
   BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017    11

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 period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1     Level 2     Level 3     Total  

Liabilities:

       

TOB Trust Certificates

    —     $ (32,047,199 )      —     $ (32,047,199 ) 

VMTP Shares at Liquidation

Value

    —       (94,500,000 )      —       (94,500,000 ) 
 

 

 

  

Total

    —     $ (126,547,199 )      —     $ (126,547,199 ) 
 

 

 

  

During the ended April 30, 2017, there were no transfers between levels.

 

                
12    BLACKROCK NEW YORK MUNICIPAL INCOME TRUST    APRIL 30, 2017   

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, 2017

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, 2017

 

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

Date: June 22, 2017