N-Q/A 1 c37060_n-qa.txt ---------------------------- OMB APPROVAL ------------ OMB Number: 3235-0578 Expires: February 28, 2006 Estimated average burden hours per response: 20.0 ---------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act File Number: 811-21078 Registrant Name: PIMCO New York Municipal Income Fund II Address of Principal Executive Offices: 1345 Avenue of the Americas New York, New York 10105 Name and Address of Agent for Service: Lawrence G. Altadonna - 1345 Avenue of the Americas New York, New York 10105 Registrant's telephone number, including area code: 212-739-3371 Date of Fiscal Year End: 5/31/05 Date of Reporting Period: 2/28/05 Form N-Q is to be used by the registered management investment company, other than a small business investment company registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b 1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. ITEM 1. SCHEDULE OF INVESTMENTS PIMCO NEW YORK MUNICIPAL INCOME FUND II SCHEDULE OF INVESTMENTS FEBRUARY 28, 2005 (unaudited)
PRINCIPAL AMOUNT CREDIT RATINGS (000) (MOODY'S/S&P) VALUE * ------------------------------------------------------------------------------------------------------------------------------------ NEW YORK MUNICIPAL BONDS & NOTES-87.5% Buffalo Municipal Water Finance Auth., Water System Rev., $1,250 5.00%-5.125%, 7/1/27-7/1/32, Ser. B, (FSA) ................................... Aaa/AAA $1,306,775 10,000 Erie Cnty. Tobacco Asset Securization Corp. Rev, 6.50%, 7/15/32 ............... Baa1/BBB 10,276,400 Metropolitan Transportation Auth. Rev., 1,850 5.00%, 11/15/30, Ser. A (FSA) ................................................ Aaa/AAA 1,921,706 10,000 5.25%, 11/15/31, Ser. E ...................................................... A2/A 10,536,000 7,000 Metropolitan Transportation Auth. Service Contract, 5.35%, 7/1/31, Ser. B ........................................................ A2/AAA 7,425,740 4,000 New York City, GO, 5.00%, 3/1/33, Ser.I ........................................ A1/A 4,114,080 New York City Health & Hospital Corp. Rev., 3,100 5.375%-5.45%, 2/15/26, Ser. A ................................................ A3/BBB 3,217,460 New York City Industrial Dev Agcy., Civic Fac. Rev., 1,500 5.00%, 7/1/27 ................................................................ Aa2/NR 1,574,010 1,240 6.45%, 7/1/32 ................................................................ Ba3/NR 1,195,211 1,000 New York City Industrial Dev. Agcy. Rev., 4.95%, 11/20/32 (GNMA) ............... NR/AA+ 1,028,680 New York City Municipal Water Finance Auth., Water & Sewer System Rev., 3,055 4.75%, 6/15/25, Ser. D (MBIA) ................................................ Aaa/AAA 3,099,725 20,000 5.125%-6.125%, 6/15/32-6/15/34, Ser. A ........................................ Aa2/AA 20,773,100 10,000 New York City Transitional Finance Auth. Rev., 5.00%, 11/1/27, Ser. B ....................................................... Aa1/AAA 10,419,100 7,785 New York City Trust Cultural Rev., 5.00%, 2/1/34 .............................. Aaa/AAA 8,102,628 3,600 Port Auth. New York & New Jersey, 5.00%, 4/15/32 ............................... Aaa/AAA 3,761,496 6,340 Sachem Central School District of Holbrook, 5.00%, 6/15/28-6/15/29 (MBIA) ................................................ Aaa/AAA 6,644,465 7,500 State Dormitory Auth. Lease Rev., State Univ. Dormitory Facs., 5.00%, 7/1/32 (Pre-refunded @100, 7/1/12) (a) ................................ A1/AA- 8,282,475 2,600 State Dormitory Auth. Revs., Catholic Health of Long Island, 5.00%, 7/1/34 (AMBAC) ........................................................ Baa1/BBB 2,638,376 2,000 State Dormitory Auth. Revs., FHA-Kaleida Health Hospital, 5.05%, 2/15/25 ............................................................... NR/AAA 2,110,420 3,225 State Dormitory Auth. Revs., FHA-New York, Presbytorian Hospital, 4.75%, 8/1/27, (AMBAC) ....................................................... Aaa/AAA 3,264,313 5,000 State Dormitory Auth. Revs., FHA-Saint Barnabas, 5.00%, 2/1/31, Ser. A (AMBAC) ................................................ AAa/AAA 5,165,400 5,300 State Dormitory Auth. Revs., Lenox Hill Hospital, 5.50%, 7/1/30 ................ BAa2/NR 5,395,453 1,400 State Dormitory Auth. Revs., Long Island Univ., 5.25%, 9/1/28 (Radian) ....................................................... BAa3/AA 1,470,616 1,500 State Dormitory Auth. Revs., Memorial Sloan-Kettering Center, 5.00%, 7/1/34, Ser. 1 ........................................................ Aa2/AA 1,547,310 8,850 State Dormitory Auth. Revs., North General Hospital, 5.00%, 2/15/25 ............................................................... NR/AA- 9,101,074 8,600 State Dormitory Auth. Revs., State Personal Income Tax, 5.00%, 3/15/32 ............................................................... A1/AA 9,515,470 1,250 State Dormitory Auth. Revs., Student Housing Corp., 5.125%, 7/1/34 (FGIC) ........................................................ Aaa/AAA 1,319,625 4,270 State Dormitory Auth. Revs., Teachers College, 5.00%, 7/1/32 (MBIA) ......................................................... Aaa/NR 4,420,603 2,000 State Dormitory Auth. Revs., Yeshiva Univ., 5.125%, 7/1/34 (AMBAC) ....................................................... Aaa/NR 2,111,400 2,000 State Environmental Facs. Corp., State Clean Water & Drinking Rev., 5.125%, 6/15/31 .............................................................. AAa/AAA 2,099,560 5,000 State Municipal Board Bank Agcy., Special School Purpose Rev., 5.00%, 6/1/23, Ser. C (Pre-Refunded @100, 3/15/13 (a)......................... NR/A+ 5,187,700 6,100 State Urban Dev. Corp., Personal Income Tax, 5.00%, 3/15/33, Ser. C ....................................................... A1/AA 6,749,345 TOB Settlement Asset Backed, Inc., 25,000 5.75%, 7/15/32, Ser.1 ........................................................ Baa3/BBB 25,342,250 10,000 6.375%, 7/15/39 .............................................................. Baa3/BBB 10,335,400 Triborough Bridge & Tunnel Auth. Revs., 4,700 5.00%, 1/1/32, Ser. A (FGIC) ................................................. Aaa/AAA 4,856,087 2,000 Warren & Washington Cnty. Industrial Dev. Agcy. Fac. Rev., 5.00%, 12/1/35, Ser. A (FSA) ................................................. Aaa/AAA 2,065,660 750 Westchester Cnty. Industrial Dev. Agcy. Continuing Care Retirement, 6.50%, 1/1/34 ................................................................ NR/NR 782,580 -------------- Total New York Municipal Bonds & Notes (cost-$198,771,004) 209,157,693 --------------
PIMCO NEW YORK MUNICIPAL INCOME FUND II SCHEDULE OF INVESTMENTS FEBRUARY 28, 2005 (unaudited) (continued)
PRINCIPAL AMOUNT CREDIT RATINGS (000) (MOODY'S/S&P) VALUE * ------------------------------------------------------------------------------------------------------------------------------------ OTHER MUNICIPAL BONDS & NOTES-5.7% CALIFORNIA - 1.5% Alamada Univ. School District, Alamada County, $ 6,500 zero coupon, 8/1/24-8/1/25 (FSA) ............................................. Aaa/AAA $2,447,405 3,130 Covina Valley Unified School District, zero coupon, 6/1/25, Ser. B (FGIC) ........................................... Aaa/AAA 1,149,461 ------------- 3,596,866 ------------- COLORADO - 0.0% Dawson Ridge Met. District No. 1, 210 zero coupon, 10/1/22, Ser. A ................................................. Aaa/NR 90,292 ------------- PUERTO RICO - 4.2% 5,675 Children Trust Fund Tobacco Settlement Rev., 5.625%, 5/15/43 .............................................................. Baa3/BBB 5,565,245 1,500 Commonwealth Highway & Transportation Auth. Rev., 5.25%, 7/1/38, Ser. D ........................................................ Baa1/A 1,568,520 750 Electric Power Authority, Power Rev., 5.125%, 7/1/29, Ser. NN ....................................................... A3/A- 784,328 1,900 Public Finance Corp., 5.75%, 8/1/27, Ser. A ........................................................ BaA2/BBB+ 2,115,935 ------------- 10,034,028 ------------- Total Other Municipal Bonds & Notes (cost-$13,262,853) 13,721,186 ------------- NEW YORK VARIABLE RATE NOTES (b) (c) (d)-3.8% 6,994 Long Island Power Auth. Electric System. Rev., 14.70%, 12/1/26, Ser. 339 (MBIA) (cost-$7,005,500) .......................... Aaa/NR 9,061,706 ------------- OTHER VARIABLE RATE NOTES (b) (c) (d)-1.1% California State Economic Recovery, 17.815%, 1/1/10 (cost-$2,430,930) ............................................ Aa3/NR 2,665,260 ------------- U.S. TREASURY BILLS (e) - 2.1% 5,060 2.43%-2.54%, 3/3/05-5/5/05 (cost-$5,051,551) ................................. Aaa/AAA 5,051,068 ------------- TOTAL INVESTMENTS BEFORE CALL OPTIONS WRITTEN (cost-$226,521,838)-100.2% 239,656,913 ------------- CALL OPTIONS WRITTEN (f)-(0.2)% CONTRACTS U.S. Treasury Bond Futures, Chicago Board of Trade: ---------- (119) strike price $110, expires 5/20/05 (126,438) (207) strike price $112, expires 5/20/05 (417,234) ------------- Total Call Options Written (premiums received-$654,028) (543,672) ------------- TOTAL INVESTMENTS NET OF CALL OPTIONS WRITTEN (cost-$225,867,810)-100% $239,113,241 ------------- -----------------------------------------------------------------------------------------------------------------------------------
Futures contracts outstanding at February 28, 2005:
Notional Unrealized Amount Expiration Appreciation Type (000) Date (Depreciation) ------------------------------------------------------------------------------------- Short U.S. Treasury 30 Year Bond Futures (554) 6/21/05 $ 425,938 Long: Euro Dollar futures 518 9/19/05 (222,525) --------- $ 203,413 =========
NOTES TO SCHEDULE OF INVESTMENTS: * Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Portfolio securities and other financial instruments for which market quotations are not readily available or if a significant development/event occurs that may impact the value of the security may be fair-valued in good faith pursuant to guidelines established by the Board of Trustees. The Fund's investments are valued daily by an independent pricing service. Prices obtained from an independent pricing service use information provided by market makers or estimates of market value obtained from yield data relating to investments or securities with similar characteristics. Short-term investments maturing in 60 days or less are valued at amortized cost, if they original maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days. Exchange traded options, futures, and options on futures are valued at the settlement price determined by the relevant exchange. The prices used by the Fund to value securities may differ from the value that would be realized if the securities were sold. The Fund's net asset value is determined daily at the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange. (a) Pre-Refunded bonds are collateralized by U.S. Government or other eligible securities which are held in escrow and used to pay principal and interest and retire the bonds at the earliest refunding date. (b) 144A Security- Security exempt from registration under Rule 144A of the Securities Act of 1933. These Securities may be resold in transactions exempt from registration, typically only to Qualified Institutional Investors. (c) Variable Rate Notes - instruments whose interest rate changes on a specified date (such as a coupon date or interest payment date) and/or whose interest rate varies with changes in a designated base rate (such as the prime interest rate) (d) Residual interest Municipal Bonds. The interest rate shown bears an inverse relationship to the interest rate on another security or the value of an index (e) All or partial principal amount segregated as initial margin on futures contracts. (f) Non-income producing. GLOSSARY: AMBAC - insured by American Municipal Bond Assurance Corp. FGIC - insured by Financial Guaranty Insurance Co. FSA - insured by Financial Security Assurance, Inc. GO - General Obligation Bonds GNMA - Government National Mortgage Association MBIA - insured by Municipal Bond Investors Assurance NR - Not Rated Radian - insured by Radian Guaranty Inc. XLCA - insured by XL Capital Assurance ITEM 2. CONTROLS AND PROCEDURES (a) The registrant's President and Chief Executive Officer and Principal Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document. (b) There were no significant changes in the registrant's internal controls or in factors that could affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. ITEM 3. EXHIBITS (a) Exhibit 99.CERT - Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 SIGNATURES 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. Registrant: PIMCO New York Municipal Income Fund II By /s/ Brian S. Shlissel President & Chief Executive Officer Date: April 22, 2005 By /s/ Lawrence G. Altadonna Treasurer, Principal Financial & Accounting Officer Date: April 22, 2005 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 dated indicated. By /s/ Brian S. Shlissel President & Chief Executive Officer Date: April 22, 2005 By /s/ Lawrence G. Altadonna Treasurer, Principal Financial & Accounting Officer Date: April 22, 2005