0000891804-14-000271.txt : 20140228 0000891804-14-000271.hdr.sgml : 20140228 20140228142755 ACCESSION NUMBER: 0000891804-14-000271 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20131231 FILED AS OF DATE: 20140228 DATE AS OF CHANGE: 20140228 EFFECTIVENESS DATE: 20140228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NUVEEN NEW YORK AMT-FREE MUNICIPAL INCOME FUND CENTRAL INDEX KEY: 0001195739 IRS NUMBER: 030487021 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-21211 FILM NUMBER: 14654025 BUSINESS ADDRESS: STREET 1: 333 WEST WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3129178146 MAIL ADDRESS: STREET 1: 333 WEST WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: NUVEEN INSURED NEW YORK TAX FREE ADVANTAGE MUNICIPAL FUND DATE OF NAME CHANGE: 20021003 N-Q 1 nq2.htm NRK nq2.htm



 
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 811-21211
 
Nuveen New York AMT-Free Municipal Income Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            9/30          
 
Date of reporting period:         12/31/13         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 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 30b1-5 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 respond 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. § 3507.

 
 
 

 
 
Item 1. Schedule of Investments
 

 
           
   
Portfolio of Investments (Unaudited)
     
           
    
   Nuveen New York AMT-Free Municipal Income Fund (NRK)
     
   
December 31, 2013
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 157.6% (100.0% of TOTAL INVESTMENTS)
     
   
MUNICIPAL BONDS – 157.6% (100.0% of TOTAL INVESTMENTS)
     
   
Consumer Staples – 2.6% (1.6% of Total Investments)
     
$ 1,015
 
New York Counties Tobacco Trust II, Tobacco Settlement Pass-Through Bonds, Series 2001,
6/14 at 100.00
A3
$     996,091
   
5.250%, 6/01/25
     
1,810
 
New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003,
6/14 at 100.00
A1
1,810,290
   
5.750%, 6/01/33
     
37,120
 
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.125%, 6/01/42
6/16 at 100.00
B
26,931,672
39,945
 
Total Consumer Staples
   
29,738,053
   
Education and Civic Organizations – 29.4% (18.7% of Total Investments)
     
   
Build NYC Resource Corporation, New York, Revenue Bonds, Bronx Charter School for Excellence,
     
   
Series 2013A:
     
250
 
5.000%, 4/01/33
4/23 at 100.00
BBB–
231,888
2,535
 
5.500%, 4/01/43
4/23 at 100.00
BBB–
2,404,371
1,260
 
Dormitory Authority of the State of New York, 853 Schools Program Insured Revenue Bonds,
7/14 at 100.00
N/R
1,265,002
   
St. Anne Institute, Issue 2, Series 1998E, 5.000%, 7/01/18 – AMBAC Insured
     
   
Dormitory Authority of the State of New York, General Revenue Bonds, New York University,
     
   
Series 2001-1:
     
1,500
 
5.500%, 7/01/24 – AMBAC Insured
No Opt. Call
AA–
1,804,155
4,000
 
5.500%, 7/01/40 – AMBAC Insured
No Opt. Call
AA–
4,398,840
9,400
 
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
7/17 at 100.00
A
9,681,154
   
Series 2007A, 5.250%, 7/01/32 – NPFG Insured
     
4,990
 
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
7/23 at 100.00
A–
4,990,000
   
Series 2013A, 5.000%, 7/01/44
     
4,265
 
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of
No Opt. Call
A
4,307,821
   
Technology, Series 2007, 5.250%, 7/01/34 – FGIC Insured
     
6,000
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of
No Opt. Call
A
6,485,280
   
Medicine, Series 1994A, 5.150%, 7/01/24 – NPFG Insured
     
7,780
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, New York Medical College,
7/14 at 100.00
A
7,804,118
   
Series 1998, 5.000%, 7/01/21 – NPFG Insured
     
6,660
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/15 at 100.00
Aa2
6,910,416
   
Facilities, Series 2004A, 5.000%, 7/01/29 – NPFG Insured
     
10,000
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/16 at 100.00
Aa2
10,386,700
   
Facilities, Series 2006A, 5.000%, 7/01/31 – NPFG Insured
     
6,215
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/19 at 100.00
Aa2
6,380,133
   
Facilities, Series 2009A, 5.000%, 7/01/39
     
4,750
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/21 at 100.00
Aa2
4,884,520
   
Facilities, Series 2011A, 5.000%, 7/01/41
     
3,750
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/22 at 100.00
Aa2
3,913,538
   
Facilities, Series 2012A, 5.000%, 7/01/37
     
14,585
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/23 at 100.00
Aa3
15,969,844
   
Facilities, Series 2013A, 5.000%, 7/01/27
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A:
     
2,000
 
5.000%, 7/01/25 – FGIC Insured
7/17 at 100.00
A
2,133,680
6,525
 
5.000%, 7/01/37 – FGIC Insured
7/17 at 100.00
A
6,480,434
1,150
 
Dormitory Authority of the State of New York, Revenue Bonds, Canisius College, Series 2005,
7/15 at 100.00
Baa1
1,168,860
   
5.000%, 7/01/21 – NPFG Insured
     
9,180
 
Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series
4/21 at 100.00
AAA
9,681,320
   
2011A, 5.000%, 10/01/41
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Convent of the Sacred Heart,
     
   
Series 2011:
     
1,000
 
5.625%, 11/01/35 – AGM Insured
5/21 at 100.00
AA–
1,066,330
5,980
 
5.750%, 11/01/40 – AGM Insured
5/21 at 100.00
AA–
6,384,368
3,000
 
Dormitory Authority of the State of New York, Revenue Bonds, Fordham University, Series 2008B,
7/18 at 100.00
A2
3,107,190
   
5.000%, 7/01/38 – AGC Insured
     
1,000
 
Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College,
7/19 at 100.00
Baa2
1,006,640
   
Series 2009, 5.250%, 7/01/29
     
875
 
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series
7/20 at 100.00
A–
927,299
   
2010, 5.250%, 7/01/30
     
3,250
 
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
No Opt. Call
AA–
3,929,803
   
1998A, 6.000%, 7/01/18 – NPFG Insured
     
3,415
 
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2007,
7/17 at 100.00
AA–
3,666,207
   
5.000%, 7/01/32 – AMBAC Insured
     
   
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2009A:
     
10,000
 
5.250%, 7/01/34
7/19 at 100.00
AA–
10,970,900
3,890
 
5.000%, 7/01/39
7/19 at 100.00
AA–
4,062,210
13,500
 
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
7/19 at 100.00
AA–
14,180,265
   
2009B, 5.000%, 7/01/39
     
3,115
 
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
7/22 at 100.00
AA–
3,323,705
   
2012A, 5.000%, 7/01/32
     
2,800
 
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell
7/20 at 100.00
Aa1
2,939,916
   
University, Series 2008C, 5.000%, 7/01/37
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell
     
   
University, Series 2010A:
     
5,000
 
5.000%, 7/01/35
7/20 at 100.00
Aa1
5,244,900
11,560
 
5.000%, 7/01/40
7/20 at 100.00
Aa1
12,012,690
   
Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of
     
   
Technology, Series 2006A:
     
2,500
 
5.250%, 7/01/20 – AMBAC Insured
No Opt. Call
A1
2,910,975
2,000
 
5.250%, 7/01/21 – AMBAC Insured
No Opt. Call
A1
2,319,240
1,250
 
Dormitory Authority of the State of New York, Revenue Bonds, University of Rochester,
No Opt. Call
AA–
1,320,775
   
Refunding Series 2009A, 5.125%, 7/01/39
     
6,435
 
Dormitory Authority of the State of New York, State and Local Appropriation Lease Bonds,
7/15 at 100.00
AA–
6,815,309
   
Upstate Community Colleges, Series 2005A, 5.000%, 7/01/19 – FGIC Insured
     
1,000
 
Dutchess County Local Development Corporation, New York, Revenue Bonds, Marist College
7/23 at 100.00
A2
1,020,470
   
Project, Series 2013A, 5.000%, 7/01/39
     
   
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University
     
   
Project, Series 2013:
     
1,785
 
5.000%, 9/01/38
9/23 at 100.00
A
1,793,033
1,785
 
5.000%, 9/01/43
9/23 at 100.00
A
1,776,664
15,650
 
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Colgate
7/15 at 100.00
AA+
15,795,076
   
University, Series 2005A, 5.000%, 7/01/40 – AMBAC Insured
     
7,250
 
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Horace
7/14 at 100.00
A
7,267,690
   
Mann School, Series 1998, 5.000%, 7/01/28 – NPFG Insured
     
4,775
 
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Trinity
6/14 at 100.00
A
4,787,845
   
Episcopal School, Series 1997, 5.250%, 6/15/27 – NPFG Insured
     
3,155
 
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vaughn
12/16 at 100.00
BB
2,908,090
   
College of Aeronautics, Series 2006A, 5.000%, 12/01/28
     
   
New York City Industrial Development Agency, New York, Payment in Lieu of Taxes Revenue Bonds,
     
   
Queens Baseball Stadium Project, Series 2009:
     
1,000
 
6.125%, 1/01/29 – AGC Insured
1/19 at 100.00
AA–
1,086,590
1,000
 
6.375%, 1/01/39 – AGC Insured
1/19 at 100.00
AA–
1,080,220
   
New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball
     
   
Stadium Project, Series 2006:
     
6,815
 
5.000%, 1/01/31 – AMBAC Insured
1/17 at 100.00
Ba1
6,268,641
5,000
 
5.000%, 1/01/36 – AMBAC Insured
1/17 at 100.00
Ba1
4,413,100
1,030
 
4.750%, 1/01/42 – AMBAC Insured
1/17 at 100.00
Ba1
819,509
14,500
 
5.000%, 1/01/46 – AMBAC Insured
1/17 at 100.00
Ba1
11,978,740
4,730
 
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project
3/19 at 100.00
AA–
5,381,794
   
PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured
     
   
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium
     
   
Project, Series 2006:
     
4,280
 
5.000%, 3/01/31 – FGIC Insured
9/16 at 100.00
BBB
4,301,956
31,650
 
5.000%, 3/01/36 – NPFG Insured
9/16 at 100.00
A
31,710,452
20,210
 
4.500%, 3/01/39 – FGIC Insured
9/16 at 100.00
BBB
18,367,454
6,560
 
New York City Trust for Cultural Resources, New York, Revenue Bonds, American Museum of
7/14 at 100.00
AA
6,562,690
   
Natural History, Series 2004A, 5.000%, 7/01/36 – NPFG Insured
     
3,400
 
New York City Trust for Cultural Resources, New York, Revenue Bonds, Whitney Museum of
1/21 at 100.00
A
3,515,566
   
American Art, Series 2011, 5.000%, 7/01/31
     
   
Niagara Area Development Corporation, New York, Niagara University Project, Series 2012A:
     
600
 
5.000%, 5/01/35
5/22 at 100.00
BBB+
588,390
1,000
 
5.000%, 5/01/42
5/22 at 100.00
BBB+
964,700
1,750
 
Onondaga Civic Development Corporation, New York, Revenue Bonds, Le Moyne College Project,
7/22 at 100.00
Baa2
1,646,348
   
Series 2012, 5.000%, 7/01/42
     
1,000
 
Onongada County Trust For Cultural Resources, New York, Revenue Bonds, Syracuse University
12/21 at 100.00
AA–
1,043,790
   
Project, Series 2011, 5.000%, 12/01/36
     
   
Tompkins County Development Corporation, New York, Revenue Bonds, Ithaca College, Series 2011:
     
1,390
 
5.500%, 7/01/33 – AGM Insured
1/21 at 100.00
A2
1,480,406
1,000
 
5.250%, 7/01/36 – AGM Insured
1/21 at 100.00
A2
1,039,740
4,000
 
5.375%, 7/01/41 – AGM Insured
1/21 at 100.00
A2
4,149,840
3,700
 
Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute,
9/20 at 100.00
A–
3,734,040
   
Series 2010A, 5.125%, 9/01/40
     
337,380
 
Total Education and Civic Organizations
   
342,953,630
   
Financials – 2.3% (1.5% of Total Investments)
     
11,615
 
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
No Opt. Call
A
12,074,954
   
Series 2005, 5.250%, 10/01/35
     
14,400
 
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
No Opt. Call
A
15,310,080
   
Series 2007, 5.500%, 10/01/37
     
26,015
 
Total Financials
   
27,385,034
   
Health Care – 10.8% (6.9% of Total Investments)
     
5,315
 
Albany Capital Resource Corporation, New York, St. Peter’s Hospital Project, Series 2011,
11/20 at 100.00
A
5,785,962
   
6.125%, 11/15/30
     
5,935
 
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter’s Hospital, Series
11/17 at 100.00
A
6,092,278
   
2008A, 5.250%, 11/15/32
     
4,205
 
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter’s Hospital, Series
11/17 at 100.00
A
4,334,935
   
2008D, 5.375%, 11/15/32
     
1,000
 
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter’s Hospital, Series
11/17 at 100.00
A
1,026,500
   
2008E, 5.250%, 11/15/32
     
2,495
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds,
8/19 at 100.00
AA+
2,820,573
   
Hospital for Special Surgery, Series 2009, 6.250%, 8/15/34
     
7,630
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson
8/17 at 100.00
AA–
8,257,796
   
Valley Hospital Center, Series 2007, 5.000%, 8/15/27 – AGM Insured
     
   
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore
     
   
Hospital, Series 2004:
     
9,330
 
5.000%, 8/01/29 – FGIC Insured
2/15 at 100.00
A
9,504,378
425
 
5.000%, 8/01/33 – FGIC Insured
2/15 at 100.00
A
424,193
8,035
 
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical
2/15 at 100.00
A
8,361,864
   
Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured
     
950
 
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, St. Lukes Roosevelt
8/15 at 100.00
N/R
968,354
   
Hospital, Series 2005, 4.900%, 8/15/31
     
4,000
 
Dormitory Authority of the State of New York, North Shore Long Island Jewish Obligated Group
5/21 at 100.00
A–
3,973,200
   
Revenue Bonds, Series 2011A, 5.000%, 5/01/41
     
   
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group
     
   
Revenue Bonds, Series 2008:
     
3,880
 
6.000%, 12/01/15
No Opt. Call
Ba1
3,909,022
4,345
 
6.000%, 12/01/16
No Opt. Call
Ba1
4,384,540
5,430
 
6.500%, 12/01/21
12/18 at 100.00
Ba1
5,573,949
6,780
 
6.125%, 12/01/29
12/18 at 100.00
Ba1
6,735,320
12,770
 
6.250%, 12/01/37
12/18 at 100.00
Ba1
12,258,945
   
Dormitory Authority of the State of New York, Revenue Bonds, Health Quest System Inc.,
     
   
Series 2007B:
     
3,865
 
5.250%, 7/01/27 – AGC Insured
7/17 at 100.00
AA–
4,206,937
3,500
 
5.125%, 7/01/37 – AGC Insured
7/17 at 100.00
AA–
3,508,330
9,440
 
Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian
8/14 at 100.00
AA–
9,724,333
   
Hospital, Series 2004A, 5.250%, 8/15/15 – AGM Insured
     
900
 
Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest System
7/20 at 100.00
A–
945,981
   
Inc, Series 2010A, 5.750%, 7/01/40 – AGM Insured
     
1,875
 
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue
2/21 at 100.00
Aa2
2,086,969
   
Bonds, Unity Hospital of Rochester Project, Series 2010, 5.750%, 8/15/35
     
1,300
 
Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester General
12/22 at 100.00
A–
1,269,827
   
Hospital Project, Series 2013A, 5.000%, 12/01/42
     
6,540
 
Suffolk County Economic Development Corporation, New York, Revenue Refunding Bonds, Catholic
7/21 at 100.00
BBB+
6,664,914
   
Health Services of Long Island Obligated Group Project, Series 2011, 5.000%, 7/01/28
     
5,050
 
Westchester County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series
11/20 at 100.00
A3
5,406,682
   
2010-C2, 6.125%, 11/01/37
     
5,740
 
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital,
7/14 at 100.00
B+
5,708,832
   
Series 2001A, 7.125%, 7/01/31
     
2,035
 
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital,
1/14 at 100.00
B+
2,023,950
   
Series 2001B, 7.125%, 7/01/31
     
122,770
 
Total Health Care
   
125,958,564
   
Housing/Multifamily – 0.3% (0.2% of Total Investments)
     
   
Canton Capital Resource Corporation, New York, Student Housing Facility Revenue Bonds, Grasse
     
   
River LLC at SUNY Canton Project Series 2010A:
     
1,000
 
5.000%, 5/01/40
5/20 at 100.00
AA–
1,020,050
1,000
 
5.000%, 5/01/45 – AGM Insured
5/20 at 100.00
AA–
1,017,300
1,040
 
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,
5/20 at 100.00
AA
1,038,346
   
Series 2010D-1A, 5.000%, 11/01/42
     
450
 
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009B,
5/19 at 100.00
Aa2
454,437
   
4.500%, 11/01/29
     
   
New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project,
     
   
Series 1996A:
     
35
 
6.100%, 11/01/15 – AGM Insured
5/14 at 100.00
AA–
35,169
390
 
6.125%, 11/01/20 – AGM Insured
5/14 at 100.00
AA–
390,800
3,915
 
Total Housing/Multifamily
   
3,956,102
   
Long-Term Care – 0.7% (0.4% of Total Investments)
     
800
 
Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of
2/17 at 103.00
AA+
814,208
   
Westchester Project, Series 2006, 5.200%, 2/15/41
     
6,685
 
Erie County Industrial Development Agency, New York, Revenue Bonds, Orchard Park CCRC Inc.
11/16 at 100.00
N/R
5,744,554
   
Project, Series 2006A, 6.000%, 11/15/36
     
1,225
 
Suffolk County Economic Development Corporation, New York, Revenue Refunding Bonds, Peconic
12/20 at 100.00
BBB–
1,266,528
   
Landing At Southold, Inc. Project, Series 2010, 6.000%, 12/01/40
     
8,710
 
Total Long-Term Care
   
7,825,290
   
Tax Obligation/General – 12.0% (7.6% of Total Investments)
     
3,000
 
Dormitory Authority of the State of New York, School Districts Revenue Bond Financing Program,
10/15 at 100.00
A+
3,088,710
   
Peekskill City School District, Series 2005D, 5.000%, 10/01/33 – NPFG Insured
     
8,100
 
Erie County Industrial Development Agency, New York, School Facility Refunding Revenue Bonds,
5/23 at 100.00
AA–
8,712,279
   
Buffalo City School District, Series 2013A, 5.000%, 5/01/28
     
1,000
 
Nassau County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%,
10/19 at 100.00
AA–
1,049,810
   
10/01/29 – AGC Insured
     
210
 
Nassau County, New York, General Obligation Improvement Bonds, Series 1993H, 5.500%,
No Opt. Call
A+
234,089
   
6/15/16 – NPFG Insured
     
1,200
 
New York City, New York, General Obligation Bonds, Fiscal 2009 Series E, 5.000%, 8/01/28
8/19 at 100.00
AA
1,325,172
   
New York City, New York, General Obligation Bonds, Fiscal 2012 Series A-1:
     
6,085
 
5.000%, 10/01/31
No Opt. Call
AA
6,437,991
1,000
 
5.000%, 10/01/33
10/22 at 100.00
AA
1,046,080
1,570
 
5.000%, 10/01/34
No Opt. Call
AA
1,635,375
8,665
 
New York City, New York, General Obligation Bonds, Fiscal 2012 Series B, 5.000%, 8/01/30
No Opt. Call
AA
9,224,239
   
New York City, New York, General Obligation Bonds, Fiscal 2012 Series C:
     
4,610
 
5.000%, 8/01/25
8/22 at 100.00
AA
5,092,344
2,190
 
5.000%, 8/01/28
8/22 at 100.00
AA
2,362,572
   
New York City, New York, General Obligation Bonds, Fiscal 2012 Series I:
     
1,000
 
5.000%, 8/01/30
8/22 at 100.00
AA
1,064,540
2,000
 
5.000%, 8/01/31
8/22 at 100.00
AA
2,114,240
   
New York City, New York, General Obligation Bonds, Fiscal 2013 Series F-1:
     
5,000
 
5.000%, 3/01/29
3/23 at 100.00
AA
5,380,300
3,400
 
5.000%, 3/01/31
3/23 at 100.00
AA
3,604,986
1,000
 
5.000%, 3/01/33
3/23 at 100.00
AA
1,047,880
3,735
 
New York City, New York, General Obligation Bonds, Fiscal 2014 Series A-1, 5.000%, 8/01/26
8/23 at 100.00
AA
4,143,833
8,000
 
New York City, New York, General Obligation Bonds, Fiscal 2014 Series D-1, 5.000%, 8/01/30
8/23 at 100.00
AA
8,565,600
5
 
New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.375%, 8/01/27 –
2/14 at 100.00
AA
5,016
   
NPFG Insured
     
   
New York City, New York, General Obligation Bonds, Fiscal Series 2001D:
     
5
 
5.250%, 8/01/15 – AGM Insured
2/14 at 100.00
AA
5,019
5
 
5.000%, 8/01/16 – FGIC Insured
2/14 at 100.00
AA
5,018
10,330
 
New York City, New York, General Obligation Bonds, Fiscal Series 2005J, 5.000%, 3/01/19 –
3/15 at 100.00
AA
10,880,071
   
FGIC Insured
     
750
 
New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16 –
8/15 at 100.00
AA
805,238
   
AGM Insured
     
   
New York City, New York, General Obligation Bonds, Series 2011D-I:
     
2,785
 
5.000%, 10/01/30
10/21 at 100.00
AA
2,949,816
2,880
 
5.000%, 10/01/34
No Opt. Call
AA
2,988,403
3,345
 
New York City, New York, General Obligation Bonds, Subseries G-1 Fiscal Series 2012,
No Opt. Call
AA
3,599,789
   
5.000%, 4/01/28
     
   
New York City, New York, General Obligation Bonds, Series 2004E:
     
12,550
 
5.000%, 11/01/19 – AGM Insured (UB)
11/14 at 100.00
AA
12,997,533
7,850
 
5.000%, 11/01/20 – AGM Insured (UB)
11/14 at 100.00
AA
8,116,508
   
Pavilion Central School District, Genesee County, New York, General Obligation Bonds, Series 2005:
     
1,650
 
5.000%, 6/15/16 – AGM Insured
6/15 at 100.00
AA–
1,744,182
1,815
 
5.000%, 6/15/18 – AGM Insured
6/15 at 100.00
AA–
1,932,666
   
Rensselaer County, New York, General Obligation Bonds, Series 1991:
     
960
 
6.700%, 2/15/16 – AMBAC Insured
No Opt. Call
AA–
1,080,920
960
 
6.700%, 2/15/17 – AMBAC Insured
No Opt. Call
AA–
1,132,243
960
 
6.700%, 2/15/18 – AMBAC Insured
No Opt. Call
AA–
1,168,138
960
 
6.700%, 2/15/19 – AMBAC Insured
No Opt. Call
AA–
1,197,706
960
 
6.700%, 2/15/20 – AMBAC Insured
No Opt. Call
AA–
1,215,216
747
 
6.700%, 2/15/21 – AMBAC Insured
No Opt. Call
AA–
959,589
   
Rochester, New York, General Obligation Bonds, Series 1999:
     
735
 
5.250%, 10/01/20 – NPFG Insured
No Opt. Call
Aa3
861,905
735
 
5.250%, 10/01/21 – NPFG Insured
No Opt. Call
Aa3
858,803
730
 
5.250%, 10/01/22 – NPFG Insured
No Opt. Call
Aa3
852,027
730
 
5.250%, 10/01/23 – NPFG Insured
No Opt. Call
Aa3
848,640
730
 
5.250%, 10/01/24 – NPFG Insured
No Opt. Call
Aa3
846,961
730
 
5.250%, 10/01/25 – NPFG Insured
No Opt. Call
Aa3
845,866
725
 
5.250%, 10/01/26 – NPFG Insured
No Opt. Call
Aa3
838,361
1,145
 
Three Village Central School District, Brookhaven and Smithtown, Suffolk County, New York,
No Opt. Call
Aa2
1,330,169
   
General Obligation Bonds, Series 2005, 5.000%, 6/01/18 – FGIC Insured
     
1,620
 
West Islip Union Free School District, Suffolk County, New York, General Obligation Bonds,
10/15 at 100.00
Aa3
1,746,700
   
Series 2005, 5.000%, 10/01/16 – AGM Insured
     
7,635
 
Yonkers, New York, General Obligation Bonds, Series 2005A, 5.000%, 8/01/16 – NPFG Insured
8/15 at 100.00
A+
8,075,996
   
Yonkers, New York, General Obligation Bonds, Series 2005B:
     
1,650
 
5.000%, 8/01/19
8/15 at 100.00
Baa1
1,712,337
1,735
 
5.000%, 8/01/20
8/15 at 100.00
Baa1
1,790,607
130,182
 
Total Tax Obligation/General
   
139,521,483
   
Tax Obligation/Limited – 52.9% (33.6% of Total Investments)
     
1,980
 
Dormitory Authority of the State of New York, 853 Schools Program Insured Revenue Bonds,
7/14 at 100.00
N/R
1,988,633
   
Harmony Heights School, Issue 1, Series 1999C, 5.500%, 7/01/18 – AMBAC Insured
     
140
 
Dormitory Authority of the State of New York, 853 Schools Program Insured Revenue Bonds,
1/14 at 100.00
N/R
140,580
   
Vanderheyden Hall Inc., Issue 2, Series 1998F, 5.250%, 7/01/18 – AMBAC Insured
     
965
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, 853 Schools Program –
7/14 at 100.00
N/R
969,391
   
Anderson School, Series 1999E, Issue 2, 5.750%, 7/01/19 – AMBAC Insured
     
9,145
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Special Act School
7/14 at 100.00
A
9,180,848
   
District Program, Series 1999, 5.750%, 7/01/19 – NPFG Insured
     
   
Dormitory Authority of the State of New York, Lease Revenue Bonds, Madison-Oneida Board of
     
   
Cooperative Educational Services, Series 2002:
     
1,045
 
5.250%, 8/15/20 – AGM Insured
2/14 at 100.00
AA–
1,049,232
1,100
 
5.250%, 8/15/21 – AGM Insured
2/14 at 100.00
AA–
1,104,444
365
 
5.250%, 8/15/22 – AGM Insured
2/14 at 100.00
AA–
366,460
2,000
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, Wayne-Finger Lakes Board of
8/14 at 100.00
AA–
2,057,900
   
Cooperative Education Services, Series 2004, 5.000%, 8/15/23 – AGM Insured
     
1,000
 
Dormitory Authority of the State of New York, Master Lease Program Revenue Bonds, Nassau
8/19 at 100.00
AA–
1,058,120
   
County Board of Cooperative Educational Services, Series 2009A, 5.000%, 8/15/28 – AGC Insured
     
10,840
 
Dormitory Authority of the State of New York, Revenue Bonds, Department of Health, Series
7/14 at 100.00
AA–
11,072,843
   
2004-2, 5.000%, 7/01/20 – FGIC Insured
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Mental Health Services Facilities
     
   
Improvements, Series 2005D-1:
     
5,315
 
5.000%, 2/15/15 – FGIC Insured
No Opt. Call
AA–
5,594,622
4,715
 
5.000%, 8/15/23 – FGIC Insured
2/15 at 100.00
AA–
4,931,371
1,000
 
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing
10/19 at 100.00
AA–
1,085,340
   
Program, Series 2009A, 5.625%, 10/01/29 – AGC Insured
     
4,000
 
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational
No Opt. Call
AA–
4,484,280
   
Facilities, 1989 Resolution, Series 2000C, 5.750%, 5/15/16 – AGM Insured
     
1,000
 
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational
No Opt. Call
Aa3
1,144,120
   
Facilities, Series 1993A, 5.500%, 5/15/19 – AMBAC Insured
     
4,115
 
Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue
No Opt. Call
AA–
4,598,142
   
Bonds, City University System, Series 1993A, 5.750%, 7/01/18 – AGM Insured
     
   
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
     
   
Purpose Series 2011C:
     
995
 
5.000%, 3/15/34
No Opt. Call
AAA
1,044,621
32,170
 
5.000%, 3/15/41
3/21 at 100.00
AAA
33,048,884
   
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
     
   
Purpose Series 2012D:
     
5,000
 
5.000%, 2/15/31
2/22 at 100.00
AAA
5,325,750
7,550
 
5.000%, 2/15/33
No Opt. Call
AAA
7,945,771
10,000
 
5.000%, 2/15/40
No Opt. Call
AAA
10,281,700
155
 
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series
3/15 at 100.00
AAA
162,976
   
2005F, 5.000%, 3/15/21 – AGM Insured
     
3,540
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
5/18 at 100.00
AA–
3,979,633
   
City School District Project, Series 2008A, 5.750%, 5/01/27 – AGM Insured (UB)
     
10,125
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
5/19 at 100.00
AA–
10,545,188
   
City School District Project, Series 2009A, 5.000%, 5/01/31
     
   
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
     
   
City School District, Series 2007A:
     
5,980
 
5.750%, 5/01/27 – AGM Insured (UB)
5/17 at 100.00
AA–
6,590,977
21,030
 
5.750%, 5/01/28 – AGM Insured (UB)
5/17 at 100.00
AA–
23,178,635
5,000
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
5/18 at 100.00
AA–
5,607,900
   
City School District, Series 2008A, 5.750%, 5/01/28 – AGM Insured (UB)
     
   
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012
     
   
Series 2011A:
     
23,030
 
5.750%, 2/15/47
2/21 at 100.00
A
24,498,623
6,000
 
5.250%, 2/15/47
2/21 at 100.00
A
6,085,560
1,850
 
5.000%, 2/15/47 – AGM Insured
2/21 at 100.00
AA–
1,861,396
   
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A:
     
51,590
 
5.000%, 2/15/47 – FGIC Insured
2/17 at 100.00
A
51,128,270
4,200
 
5.000%, 2/15/47 – AGM Insured
2/17 at 100.00
AA–
4,217,136
4,830
 
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Refunding Series
11/22 at 100.00
AA
5,202,490
   
2012A, 5.000%, 11/15/29
     
   
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds,
     
   
Series 2002A:
     
1,000
 
5.750%, 7/01/18 – AGM Insured
No Opt. Call
AA–
1,190,030
9,000
 
5.750%, 7/01/18 – AGM Insured (UB)
No Opt. Call
AA–
10,710,270
3,675
 
Monroe County Industrial Development Agency, New York, School Facility Revenue Bonds,
5/23 at 100.00
AA–
3,920,343
   
Rochester Schools Modernization Project, Series 2013, 5.000%, 5/01/28
     
560
 
Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003,
1/15 at 100.00
A–
548,044
   
5.500%, 1/01/34
     
   
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local
     
   
Government Assistance Corporation, Series 2004A:
     
3,400
 
5.000%, 10/15/25 – NPFG Insured
10/14 at 100.00
AAA
3,523,012
10,090
 
5.000%, 10/15/25 – NPFG Insured (UB) (4)
10/14 at 100.00
AAA
10,455,057
1,040
 
5.000%, 10/15/26 – NPFG Insured
10/14 at 100.00
AAA
1,076,369
6,785
 
5.000%, 10/15/26 – NPFG Insured (UB) (4)
10/14 at 100.00
AAA
7,022,271
300
 
5.000%, 10/15/29 – AMBAC Insured
10/14 at 100.00
AAA
308,643
21,610
 
5.000%, 10/15/29 – AMBAC Insured (UB) (4)
10/14 at 100.00
AAA
22,232,584
5,155
 
5.000%, 10/15/32 – AMBAC Insured
10/14 at 100.00
AAA
5,279,184
4,500
 
5.000%, 10/15/32 – AMBAC Insured (UB) (4)
10/14 at 100.00
AAA
4,608,405
10,440
 
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
1/17 at 100.00
AA–
11,055,125
   
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured
     
5
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
5/14 at 100.00
AAA
5,021
   
Series 2002B, 5.250%, 5/01/16 – NPFG Insured
     
155
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
2/14 at 100.00
AAA
155,639
   
Series 2003E, 5.250%, 2/01/22 – NPFG Insured
     
5
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
2/14 at 100.00
AAA
5,020
   
Series 2004C, 5.000%, 2/01/19 – SYNCORA GTY Insured
     
3,800
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
5/17 at 100.00
AAA
4,073,372
   
Series 2007B, 5.000%, 11/01/30
     
5,000
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Series
5/19 at 100.00
AAA
5,241,400
   
2009A-1, 5.000%, 5/01/36
     
   
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
     
   
Fiscal 2012 Series E-1:
     
6,225
 
5.000%, 2/01/37
2/22 at 100.00
AAA
6,506,681
24,155
 
5.000%, 2/01/42
2/22 at 100.00
AAA
24,865,882
32,500
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
5/22 at 100.00
AAA
33,869,225
   
Fiscal 2012 Series F-1, 5.000%, 5/01/39
     
5,100
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
No Opt. Call
AAA
5,541,762
   
Fiscal 2013 Series F-1, 5.000%, 2/01/29
     
   
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
     
   
Subordinate Lien Series 2011C:
     
10,000
 
5.500%, 11/01/35
11/20 at 100.00
AAA
10,876,100
1,000
 
5.000%, 11/01/39
11/20 at 100.00
AAA
1,041,610
   
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
     
   
Subordinate Series 2011-D1:
     
2,000
 
5.250%, 2/01/30
2/21 at 100.00
AAA
2,170,800
8,490
 
5.000%, 2/01/35
2/21 at 100.00
AAA
8,875,616
   
New York City, New York, Educational Construction Fund, Revenue Bonds, Series 2011A:
     
18,575
 
5.750%, 4/01/33 – AGM Insured
4/21 at 100.00
AA+
20,343,712
4,000
 
5.750%, 4/01/41
4/21 at 100.00
AA–
4,332,040
   
New York Convention Center Development Corporation, Hotel Fee Revenue Bonds, Tender Option
     
   
Bonds Trust 3095:
     
2,890
 
13.739%, 11/15/30 – AMBAC Insured (IF) (4)
11/15 at 100.00
AA+
3,235,557
12,940
 
13.725%, 11/15/44 – AMBAC Insured (IF) (4)
11/15 at 100.00
AA+
13,293,133
   
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General,
     
   
Series 2005B:
     
30,795
 
5.500%, 4/01/20 – AMBAC Insured
No Opt. Call
AA
36,852,069
6,600
 
5.000%, 4/01/21 – AMBAC Insured
10/15 at 100.00
AA
7,108,662
   
New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2010A:
     
1,600
 
5.000%, 3/15/29
9/20 at 100.00
AAA
1,723,216
1,945
 
5.000%, 3/15/30
9/20 at 100.00
AAA
2,070,997
665
 
New York State Urban Development Corporation, Revenue Bonds, Correctional Facilities, Series
No Opt. Call
AA–
665,000
   
1994A, 5.250%, 1/01/14 – AGM Insured
     
2,175
 
New York State Urban Development Corporation, Revenue Refunding Bonds, State Facilities,
No Opt. Call
AA–
2,249,429
   
Series 1995, 5.600%, 4/01/15 – NPFG Insured
     
8,600
 
New York State Urban Development Corporation, State Facilities Revenue Bonds, Series 1995,
No Opt. Call
AA–
10,020,462
   
5.700%, 4/01/20 – AGM Insured (UB)
     
2,000
 
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series
3/15 at 100.00
AAA
2,068,500
   
2005B, 5.000%, 3/15/30 – AGM Insured
     
3,325
 
Niagara Falls City School District, Niagara County, New York, Certificates of Participation,
6/15 at 100.00
AA–
3,375,972
   
High School Facility, Series 2005, 5.000%, 6/15/28 – AGM Insured
     
3,000
 
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Refunding Series
No Opt. Call
AA–
3,011,880
   
2002E, 5.500%, 7/01/14 – AGM Insured
     
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate
     
   
Series 2009A:
     
8,500
 
0.000%, 8/01/32
8/26 at 100.00
A+
5,973,715
12,595
 
6.500%, 8/01/44
8/19 at 100.00
A+
9,884,934
2,000
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
8/29 at 100.00
A+
1,016,380
   
2010A, 0.000%, 8/01/33
     
2,985
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
8/20 at 100.00
AA–
2,309,166
   
2010C, 5.125%, 8/01/42 – AGM Insured
     
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Senior Series 2011C:
     
22,000
 
0.000%, 8/01/37
No Opt. Call
AA–
4,352,260
46,150
 
0.000%, 8/01/39
No Opt. Call
AA–
7,958,106
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
     
11,000
 
0.000%, 8/01/41 – NPFG Insured
No Opt. Call
AA–
1,605,560
13,520
 
0.000%, 8/01/42 – FGIC Insured
No Opt. Call
AA–
1,840,342
25,395
 
0.000%, 8/01/44 – NPFG Insured
No Opt. Call
AA–
3,006,514
9,250
 
0.000%, 8/01/45 – NPFG Insured
No Opt. Call
AA–
1,021,293
201,690
 
0.000%, 8/01/46 – NPFG Insured
No Opt. Call
AA–
20,768,017
99,130
 
0.000%, 8/01/47 – AMBAC Insured
No Opt. Call
AA–
9,519,454
960
 
Suffolk County Industrial Development Agency, New York, Revenue Bonds, Hampton Bays Public
4/14 at 100.00
Baa1
963,235
   
Library, Series 1999A, 6.000%, 10/01/19 – NPFG Insured
     
972,045
 
Total Tax Obligation/Limited
   
617,258,906
   
Transportation – 15.1% (9.6% of Total Investments)
     
13,950
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding
No Opt. Call
A
14,558,639
   
Series 2012F, 5.000%, 11/15/30
     
4,000
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2003A,
5/14 at 100.00
AA–
4,013,320
   
5.000%, 11/15/25 – AGM Insured
     
8,800
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2008A,
11/17 at 100.00
A
9,047,368
   
5.250%, 11/15/36
     
27,285
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2010D,
11/20 at 100.00
A
27,962,759
   
5.250%, 11/15/40
     
16,090
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013B,
5/23 at 100.00
A
16,824,026
   
5.000%, 11/15/30
     
480
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013C,
5/23 at 100.00
A
495,197
   
5.000%, 11/15/32
     
1,900
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013D,
11/23 at 100.00
A
2,028,098
   
5.250%, 11/15/30
     
   
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E:
     
14,000
 
5.000%, 11/15/31
11/23 at 100.00
A
14,563,640
1,785
 
5.000%, 11/15/32
11/23 at 100.00
A
1,843,905
10,000
 
5.000%, 11/15/38
11/23 at 100.00
A
10,069,200
8,055
 
New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project,
11/21 at 100.00
A+
8,016,819
   
Series 2011, 5.000%, 11/15/44
     
3,420
 
New York State Thruway Authority, General Revenue Bonds, Refunding Series 2007H, 5.000%,
1/18 at 100.00
A
3,742,027
   
1/01/25 – FGIC Insured
     
12,100
 
New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/30 –
1/15 at 100.00
A
12,443,640
   
AMBAC Insured
     
   
New York State Thruway Authority, General Revenue Bonds, Series 2005G:
     
5,800
 
5.000%, 1/01/30 – AGM Insured
7/15 at 100.00
AA–
6,020,922
3,000
 
5.000%, 1/01/32 – AGM Insured
7/15 at 100.00
AA–
3,102,240
   
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth
     
   
Series 2005:
     
2,580
 
5.000%, 12/01/19 – AGM Insured
6/15 at 101.00
AA–
2,769,785
4,625
 
5.000%, 12/01/28 – SYNCORA GTY Insured
6/15 at 101.00
AA–
4,871,004
5,760
 
5.000%, 12/01/31 – SYNCORA GTY Insured
6/15 at 101.00
AA–
6,019,718
4,185
 
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty
8/17 at 100.00
AA–
5,206,140
   
Eighth Series 2008, Trust 2920, 17.724%, 8/15/32 – AGM Insured (IF)
     
13,140
 
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy
12/23 at 100.00
AA–
13,724,599
   
Ninth Series 2013, 5.000%, 12/01/38
     
2,500
 
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
12/15 at 100.00
BBB
2,605,600
   
Terminal LLC Project, Eighth Series 2010, 6.500%, 12/01/28
     
5,480
 
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
No Opt. Call
A+
6,571,890
   
Subordinate Lien Series 2002E, 5.500%, 11/15/20 – NPFG Insured
     
168,935
 
Total Transportation
   
176,500,536
   
U.S. Guaranteed – 12.3% (7.8% of Total Investments) (5)
     
   
Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk
     
   
County Issue, Series 1986:
     
1,180
 
7.375%, 7/01/16 (ETM)
No Opt. Call
Aaa
1,295,828
370
 
7.375%, 7/01/16 – BIGI Insured (ETM)
No Opt. Call
Aaa
407,226
7,480
 
Dormitory Authority of the State of New York, Revenue Bonds, The New York and Presbyterian
8/14 at 100.00
AA– (5)
7,704,698
   
Hospital Project, Series 2007, 5.000%, 8/15/36 (Pre-refunded 8/15/14) – AGM Insured
     
2,885
 
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series
3/15 at 100.00
AA– (5)
3,051,522
   
2005F, 5.000%, 3/15/21 (Pre-refunded 3/15/15) – AGM Insured
     
450
 
Dormitory Authority of the State of New York, Suffolk County, Lease Revenue Bonds, Judicial
No Opt. Call
Baa1 (5)
457,821
   
Facilities, Series 1991A, 9.500%, 4/15/14 – FGIC Insured (ETM)
     
5,200
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
5/14 at 100.00
AA– (5)
5,297,448
   
City School District, Series 2004, 5.750%, 5/01/26 (Pre-refunded 5/01/14) – AGM Insured
     
2,000
 
Erie County, New York, General Obligation Bonds, Series 2005A, 5.000%, 12/01/18 (Pre-refunded
12/15 at 100.00
A (5)
2,180,040
   
12/01/15) – NPFG Insured
     
15
 
Erie County Water Authority, New York, Water Revenue Bonds, Series 1990B, 6.750%, 12/01/14 –
No Opt. Call
N/R (5)
15,876
   
AMBAC Insured (ETM)
     
945
 
Metropolitan Transportation Authority, New York, Commuter Facilities Revenue Bonds, Series
1/14 at 100.00
N/R (5)
986,211
   
1997B, 5.000%, 7/01/20 – AMBAC Insured (ETM)
     
   
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 1998A:
     
5,090
 
5.000%, 4/01/23 (Pre-refunded 10/01/15) – FGIC Insured
10/15 at 100.00
AA+ (5)
5,506,260
11,000
 
4.750%, 4/01/28 (Pre-refunded 10/01/15) – FGIC Insured
10/15 at 100.00
AA+ (5)
11,851,620
   
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 1999A:
     
8,000
 
5.000%, 4/01/17 (Pre-refunded 10/01/14) – AGM Insured
10/14 at 100.00
AA+ (5)
8,290,400
5,750
 
5.000%, 4/01/29 (Pre-refunded 10/01/14) – AGM Insured
10/14 at 100.00
AA+ (5)
5,958,725
   
Metropolitan Transportation Authority, New York, Transit Facilities Revenue Bonds, Series 1998B:
     
10,000
 
4.875%, 7/01/18 – FGIC Insured (ETM)
1/14 at 100.00
A (5)
10,153,600
4,500
 
4.750%, 7/01/26 – FGIC Insured (ETM)
1/14 at 100.00
A (5)
4,607,595
4,600
 
New York City Housing Development Corporation, New York, Capital Fund Program Revenue Bonds,
No Opt. Call
AA+ (5)
4,711,826
   
New York Housing Authority Program, Series 2005A, 5.000%, 7/01/14 – NPFG Insured (ETM)
     
   
New York City Housing Development Corporation, New York, Capital Fund Program Revenue Bonds,
     
   
New York Housing Authority Program, Series 2005A:
     
4,600
 
5.000%, 7/01/16 (Pre-refunded 7/01/15) – FGIC Insured
7/15 at 100.00
AA+ (5)
4,924,392
18,865
 
5.000%, 7/01/25 (Pre-refunded 7/01/15) – NPFG Insured (UB) (4)
7/15 at 100.00
AA+ (5)
20,195,360
3,020
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue
6/14 at 100.00
Aa1 (5)
3,086,923
   
Bonds, Fiscal Series 2004C, 5.000%, 6/15/35 (Pre-refunded 6/15/14) – AMBAC Insured
     
7,340
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
2/14 at 100.00
AAA
7,369,874
   
Series 2004C, 5.000%, 2/01/19 (Pre-refunded 2/01/14) – SYNCORA GTY Insured
     
   
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General,
     
   
Series 2004A:
     
2,000
 
5.000%, 4/01/22 (Pre-refunded 4/01/14) – NPFG Insured
4/14 at 100.00
AA (5)
2,024,380
1,000
 
5.000%, 4/01/23 (Pre-refunded 4/01/14) – NPFG Insured
4/14 at 100.00
AA (5)
1,012,190
4,500
 
New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2004A,
9/14 at 100.00
AAA
4,653,765
   
5.000%, 3/15/24 (Pre-refunded 9/15/14) – AMBAC Insured
     
500
 
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series
3/15 at 100.00
AA– (5)
528,860
   
2005B, 5.000%, 3/15/30 (Pre-refunded 3/15/15) – AGM Insured
     
9,395
 
Suffolk County Water Authority, New York, Waterworks Revenue Bonds, Series 2005C, 5.000%,
6/15 at 100.00
AAA
10,012,721
   
6/01/28 (Pre-refunded 6/01/15) – NPFG Insured
     
14,700
 
Suffolk County Water Authority, New York, Waterworks Revenue Bonds, Series 2005C, 5.000%,
6/15 at 100.00
AAA
15,666,525
   
6/01/28 (Pre-refunded 6/01/15) – NPFG Insured (UB)
     
   
Yonkers, New York, General Obligation Bonds, Series 2005B:
     
540
 
5.000%, 8/01/19 (Pre-refunded 8/01/15)
8/15 at 100.00
Baa1 (5)
580,473
570
 
5.000%, 8/01/20 (Pre-refunded 8/01/15)
8/15 at 100.00
Baa1 (5)
612,722
136,495
 
Total U.S. Guaranteed
   
143,144,881
   
Utilities – 12.0% (7.6% of Total Investments)
     
2,450
 
Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, NRG
2/20 at 100.00
Baa3
2,472,881
   
Dunkirk Power Project, Series 2009, 5.875%, 4/01/42
     
3,000
 
Guam Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37 – AGM Insured
10/20 at 100.00
AA–
2,950,620
1,045
 
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
10/22 at 100.00
BBB
1,000,034
   
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A:
     
8,000
 
0.000%, 6/01/24 – AGM Insured
No Opt. Call
AA–
5,476,400
8,000
 
0.000%, 6/01/25 – AGM Insured
No Opt. Call
AA–
5,147,840
20,000
 
0.000%, 6/01/26 – AGM Insured
No Opt. Call
AA–
12,143,400
10,000
 
0.000%, 6/01/27 – AGM Insured
No Opt. Call
AA–
5,708,600
15,000
 
0.000%, 6/01/28 – AGM Insured
No Opt. Call
AA–
8,083,950
10,000
 
0.000%, 6/01/29 – AGM Insured
No Opt. Call
AA–
5,104,400
   
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A:
     
21,830
 
5.000%, 12/01/23 – FGIC Insured
6/16 at 100.00
A
23,437,780
27,015
 
5.000%, 12/01/25 – FGIC Insured
6/16 at 100.00
A
28,925,770
2,750
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B,
6/16 at 100.00
A–
2,766,335
   
5.000%, 12/01/35 – CIFG Insured
     
3,310
 
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 5.500%,
5/19 at 100.00
AA+
3,629,945
   
5/01/33 – BHAC Insured
     
5,000
 
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A,
5/21 at 100.00
A–
5,039,350
   
5.000%, 5/01/38
     
5,000
 
New York State Energy Research and Development Authority, Pollution Control Revenue Refunding
5/14 at 100.00
A
5,005,400
   
Bonds, Niagara Mohawk Power Corporation, Series 1998A, 5.150%, 11/01/25 – AMBAC Insured
     
6,500
 
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue
No Opt. Call
BB+
5,925,335
   
Refunding Bonds, Covanta Energy Project, Series 2012B, 4.000%, 11/01/24
     
2,635
 
Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%,
11/15 at 100.00
Aa2
2,857,157
   
11/15/19 – FGIC Insured
     
13,105
 
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013 TE,
12/23 at 100.00
AAA
13,765,492
   
5.000%, 12/15/41
     
164,640
 
Total Utilities
   
139,440,689
   
Water and Sewer – 7.2% (4.5% of Total Investments)
     
800
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
No Opt. Call
AAA
884,328
   
Bonds, Fiscal 2009 Series 2008A, 5.750%, 6/15/40
     
10,000
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
6/19 at 100.00
AA+
11,081,700
   
Bonds, Second Generation Resolution, Fiscal 2010 Series 2009BB, 5.000%, 6/15/27
     
14,660
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
12/21 at 100.00
AA+
15,017,264
   
Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44
     
5,000
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
6/17 at 100.00
AA+
5,151,800
   
Bonds, Second Generation Resolution, Series 2007AA, 5.000%, 6/15/37
     
12,365
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
6/16 at 100.00
AAA
12,676,846
   
Bonds, Series 2006B, 5.000%, 6/15/36 – NPFG Insured (UB)
     
19,455
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
6/15 at 100.00
AAA
20,457,516
   
Bonds, Series 2005C, 5.000%, 6/15/27 – NPFG Insured (UB)
     
9,285
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue
6/14 at 100.00
AAA
9,383,607
   
Bonds, Fiscal Series 2004C, 5.000%, 6/15/35 – AMBAC Insured
     
3,845
 
New York State Environmental Facilities Corporation, Revenue Bonds, State Revolving Funds
4/20 at 100.00
AAA
4,083,044
   
Master Financing, Series 2010C, 5.000%, 10/15/35
     
3,095
 
New York State Environmental Facilities Corporation, Revenue Bonds, State Revolving Funds
2/22 at 100.00
AAA
3,229,106
   
Master Financing, Series 2012B, 5.000%, 2/15/42
     
2,230
 
Upper Mohawk Valley Regional Water Finance Authority, New York, Water System Revenue Bonds,
No Opt. Call
A1
1,594,093
   
Series 2000, 0.000%, 4/01/23 – AMBAC Insured
     
80,735
 
Total Water and Sewer
   
83,559,304
$ 2,191,767
 
Total Long-Term Investments (cost $1,837,977,780)
   
1,837,242,472
   
Floating Rate Obligations – (11.1)%
   
(129,820,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (2.4)% (6)
   
(27,680,000)
   
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value – (4.3)% (7)
   
(50,700,000)
   
Variable Rate Demand Preferred Shares, at Liquidation Value – (41.9)% (8)
   
(488,800,000)
   
Other Assets Less Liabilities – 2.1%
   
25,883,097
   
Net Assets Applicable to Common Shares – 100%
   
$ 1,166,125,569
 
 
 
 
 

 
 
 
Fair Value Measurements
 
Fair value is defined as the price that the Funds would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities.
 
The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
 
         
 
Level 1
Level 2
Level 3
Total
Long-Term Investments:
       
   Municipal Bonds
$ —
$1,837,242,472
$ —
$1,837,242,472
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any.To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
As of December 31, 2013, the cost of investments was $1,720,732,394.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of December 31, 2013, were as follows:
   
Gross unrealized:
 
   Appreciation
$  70,955,612
   Depreciation
(84,239,100)
Net unrealized appreciation (depreciation) of investments
$(13,283,488)
 
 
     
(1)
 
All percentages shown in the Portfolio of Investments are based on net assets applicable to common
   
shares unless otherwise noted.
(2)
 
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
   
may be subject to periodic principal paydowns.
(3)
 
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service,
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or
   
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any
   
of these national rating agencies.
(4)
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
investments in inverse floating rate transactions.
(5)
 
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
   
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
   
agency securities are regarded as having an implied rating equal to the rating of such securities.
(6)
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 1.5%.
(7)
 
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total
   
Investments is 2.8%.
(8)
 
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total
   
Investments is 26.6%.
(ETM)
 
Escrowed to maturity.
(IF)
 
Inverse floating rate investment.
(UB)
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
 
 
 

 
 
 

 
 
Item 2. Controls and Procedures.

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") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
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 (17 CFR 270.30a-3(d)) 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.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
 
 

 
 
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)  Nuveen New York AMT-Free Municipal Income Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         February 28, 2014        
 
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 (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date:         February 28, 2014        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         February 28, 2014        
 

EX-99.CERT 2 nrk_certification2.htm CERTIFICATIONS Unassociated Document
CERTIFICATIONS

I, Gifford R. Zimmerman, certify that:
 
1.
I have reviewed this report on Form N-Q of Nuveen New York AMT-Free Municipal Income Fund;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a.  
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.  
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.  
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
d.  
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.
The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a.  
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b.  
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
Date:    February 28, 2014        
 
/s/ Gifford R. Zimmerman
Gifford R. Zimmerman
Chief Administrative Officer
(principal executive officer)
 
 
 
 

 
 
 
CERTIFICATIONS
 
I, Stephen D. Foy, certify that:
 
1.
I have reviewed this report on Form N-Q of Nuveen New York AMT-Free Municipal Income Fund;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a.  
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.  
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.  
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and
d.  
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.
The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a.  
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b.  
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
Date:     February 28, 2014        
 
/s/ Stephen D. Foy
Stephen D. Foy
Vice President and Controller
(principal financial officer)