NPORT-EX 2 FNYTFIF.htm
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
1115-Q3PH
1
Schedule
of
Investments
(unaudited)
Franklin
New
York
Tax-Free
Income
Fund
2
Notes
to
Schedule
of
Investments
13
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited),
November
30,
2024
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
2
a
a
Principal
Amount
a
Value
a
a
a
a
a
Corporate
Bonds
0.2%
Software
0.2%
a
Haven
at
Elgin
LLC
,
5.25%,
12/31/53
....................................
$
6,700,000
$
6,884,144
Total
Corporate
Bonds
(Cost
$
6,700,000
)
.......................................
6,884,144
Municipal
Bonds
98.3%
California
0.2%
California
Municipal
Finance
Authority
,
Integrity
Housing
Obligated
Group
,
Revenue
,
2022
A-1
,
4.25
%
,
12/01/37
...........................................
5,800,000
5,103,432
Florida
2.0%
Capital
Trust
Agency,
Inc.
,
Kingdom
Development
West
Palm
Beach
Portfolio
Obligated
Group
,
Revenue
,
2021
A-1
,
3.75
%
,
12/01/36
.............................................
18,760,000
16,820,355
Kingdom
Development
West
Palm
Beach
Portfolio
Obligated
Group
,
Revenue
,
2021
A-2
,
5.5
%
,
12/01/30
..............................................
2,770,000
2,490,452
b
SHI
-
Lake
Osborne
LLC
,
Revenue
,
144A,
2021
A-1
,
3.68
%
,
1/01/57
...........
3,990,000
2,891,713
b
Capital
Trust
Authority
,
Gulf
Coast
Portfolio
Obligated
Group
,
Revenue
,
144A,
2024
,
Refunding
,
Zero
Cpn.,
3/01/29
........................................
23,000,000
18,468,460
b
,c
Leon
County
Housing
Finance
Authority
,
Revenue
,
144A,
2022
A
,
Mandatory
Put
,
Zero
Cpn.,
5/01/52
.....................................................
15,500,000
13,919,000
54,589,980
Georgia
0.3%
b
Development
Authority
of
Rockdale
County
,
AHPC
Terraces
at
Fieldstone
LLC
,
Revenue
,
144A,
2021
A-1
,
3.5
%
,
12/01/36
...............................
11,550,000
9,822,926
Illinois
0.9%
Metropolitan
Pier
&
Exposition
Authority
,
State
of
Illinois
McCormick
Place
Expansion
Project
Fund
,
Revenue
,
2022
A
,
Refunding
,
4
%
,
12/15/42
...........................................
6,970,000
6,928,148
State
of
Illinois
McCormick
Place
Expansion
Project
Fund
,
Revenue
,
2022
A
,
Refunding
,
4
%
,
6/15/52
............................................
10,310,000
9,705,764
State
of
Illinois
,
GO
,
2003
,
5.1
%
,
6/01/33
............................................
4,705,882
4,732,390
GO
,
2021
A
,
4
%
,
3/01/38
............................................
2,600,000
2,601,469
23,967,771
New
Jersey
0.5%
New
Jersey
Economic
Development
Authority
,
State
of
New
Jersey
,
Revenue
,
2021
QQQ
,
4
%
,
6/15/50
.................................................
1,500,000
1,503,241
New
Jersey
Transportation
Trust
Fund
Authority
,
State
of
New
Jersey
,
Revenue
,
2020
AA
,
5
%
,
6/15/50
......................
3,725,000
3,938,759
State
of
New
Jersey
,
Revenue
,
2020
AA
,
Pre-Refunded
,
5
%
,
6/15/50
...........
1,025,000
1,154,743
State
of
New
Jersey
,
Revenue
,
2022
A
,
4
%
,
6/15/41
........................
1,500,000
1,512,814
State
of
New
Jersey
,
Revenue
,
2022
BB
,
4
%
,
6/15/46
......................
5,000,000
4,970,411
13,079,968
New
York
89.8%
Albany
Capital
Resource
Corp.
,
Albany
College
of
Pharmacy
and
Health
Sciences
,
Revenue
,
2022
A
,
Refunding
,
5.25
%
,
12/01/38
.................................................
6,505,000
6,821,389
Equitable
School
Revolving
Fund
LLC
Obligated
Group
,
Revenue
,
2021
D
,
4
%
,
11/01/51
.......................................................
2,000,000
1,989,921
KIPP
Capital
Region
Public
Charter
Schools
,
Revenue
,
2024
,
4.75
%
,
6/01/54
....
1,200,000
1,211,852
KIPP
Capital
Region
Public
Charter
Schools
,
Revenue
,
2024
,
5
%
,
6/01/64
.......
2,250,000
2,289,638
Allegany
County
Capital
Resource
Corp.
,
Alfred
University
,
Revenue
,
2024
,
5.25
%
,
4/01/49
..........................
1,700,000
1,778,386
Alfred
University
,
Revenue
,
2024
,
5.25
%
,
4/01/54
..........................
3,000,000
3,116,414
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
3
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
Battery
Park
City
Authority
,
Revenue,
Senior
Lien
,
2023
A
,
5
%
,
11/01/48
..........
$
20,000,000
$
22,107,760
Brookhaven
Local
Development
Corp.
,
Active
Retirement
Community,
Inc.
Obligated
Group
,
Revenue
,
2020
A
,
4
%
,
11/01/45
1,500,000
1,450,356
Active
Retirement
Community,
Inc.
Obligated
Group
,
Revenue
,
2020
A
,
4
%
,
11/01/55
8,000,000
7,347,950
Broome
County
Local
Development
Corp.
,
Good
Shepherd
Village
at
Endwell
Obligated
Group
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/36
........................................................
1,600,000
1,560,807
Good
Shepherd
Village
at
Endwell
Obligated
Group
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/41
........................................................
1,530,000
1,427,646
Good
Shepherd
Village
at
Endwell
Obligated
Group
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/47
........................................................
1,160,000
1,025,559
United
Health
Services
Hospitals
Obligated
Group
,
Revenue
,
2020
,
Refunding
,
AGMC
Insured
,
3
%
,
4/01/45
........................................
7,045,000
5,878,533
Buffalo
&
Erie
County
Industrial
Land
Development
Corp.
,
Catholic
Health
System
Obligated
Group
,
Revenue
,
2015
,
5.25
%
,
7/01/35
.......
1,000,000
1,001,426
Catholic
Health
System
Obligated
Group
,
Revenue
,
2015
,
5
%
,
7/01/40
.........
1,000,000
1,000,240
D'Youville
University
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
11/01/50
..............
2,500,000
2,102,869
Build
NYC
Resource
Corp.
,
Academic
Leadership
Charter
School
,
Revenue
,
2021
,
4
%
,
6/15/36
............
400,000
399,919
Classical
Charter
School,
Inc.
,
Revenue
,
2023
A
,
4.5
%
,
6/15/43
...............
700,000
703,138
Classical
Charter
School,
Inc.
,
Revenue
,
2023
A
,
4.75
%
,
6/15/53
..............
850,000
853,864
Classical
Charter
School,
Inc.
,
Revenue
,
2023
A
,
4.75
%
,
6/15/58
..............
725,000
726,203
Grand
Concourse
Academy
Charter
School
,
Revenue
,
2022
A
,
5
%
,
7/01/42
......
600,000
616,810
Grand
Concourse
Academy
Charter
School
,
Revenue
,
2022
A
,
5
%
,
7/01/52
......
725,000
735,616
Grand
Concourse
Academy
Charter
School
,
Revenue
,
2022
A
,
5
%
,
7/01/56
......
570,000
576,616
KIPP
NYC
Public
Charter
Schools
,
Revenue
,
2022
,
5.25
%
,
7/01/52
............
4,000,000
4,201,780
KIPP
NYC
Public
Charter
Schools
,
Revenue
,
2022
,
5.25
%
,
7/01/57
............
1,000,000
1,047,691
KIPP
NYC
Public
Charter
Schools
,
Revenue
,
2022
,
5.25
%
,
7/01/62
............
1,500,000
1,566,639
c
Chautauqua
County
Capital
Resource
Corp.
,
NRG
Energy,
Inc.
,
Revenue
,
2020
,
Refunding
,
Mandatory
Put
,
4.25
%
,
4/03/28
...............................
2,000,000
2,037,707
City
of
Long
Beach
,
GO
,
2022
B
,
BAM
Insured
,
5.25
%
,
7/15/42
.................
1,010,000
1,091,545
City
of
New
Rochelle
,
Iona
College
,
Revenue
,
2015
A
,
Refunding
,
5
%
,
7/01/45
.....
2,675,000
2,684,145
City
of
New
York
,
GO
,
2017
B
,
5
%
,
12/01/41
...........................................
7,000,000
7,193,469
GO
,
2018
B-1
,
5
%
,
10/01/38
.........................................
6,250,000
6,550,078
GO
,
2018
E-1
,
5
%
,
3/01/40
..........................................
14,330,000
14,999,617
GO
,
2018
E-1
,
5
%
,
3/01/44
..........................................
12,500,000
13,007,376
GO
,
2018
F-1
,
5
%
,
4/01/40
..........................................
16,210,000
16,985,926
GO
,
2018
F-1
,
5
%
,
4/01/45
..........................................
10,000,000
10,406,316
GO
,
2019
D-1
,
4
%
,
12/01/43
.........................................
10,000,000
10,033,000
GO
,
2022
D-1
,
5.25
%
,
5/01/41
........................................
1,500,000
1,685,190
GO
,
2023
A-1
,
4
%
,
9/01/46
..........................................
5,000,000
5,007,817
GO
,
2023
E-1
,
4
%
,
4/01/45
..........................................
3,000,000
3,010,288
GO
,
2023
E-1
,
5.25
%
,
4/01/47
........................................
10,000,000
11,114,653
GO
,
2024
C
,
5.25
%
,
3/01/53
.........................................
7,750,000
8,613,637
GO
,
2024
D
,
5.25
%
,
4/01/54
.........................................
2,000,000
2,222,622
GO
,
2025
C-1
,
5.25
%
,
9/01/50
........................................
1,000,000
1,121,225
Dutchess
County
Local
Development
Corp.
,
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
5
%
,
7/01/32
......
175,000
187,571
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
5
%
,
7/01/33
......
185,000
197,533
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
5
%
,
7/01/34
......
500,000
533,595
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/35
......
200,000
198,560
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/36
......
200,000
197,548
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/37
......
250,000
244,759
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/38
......
250,000
241,140
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/39
......
100,000
95,314
Culinary
Institute
of
America
(The)
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/40
......
100,000
94,608
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
4
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
Dutchess
County
Local
Development
Corp.,
(continued)
Nuvance
Health
Obligated
Group
,
Revenue
,
2016
B
,
5
%
,
7/01/31
.............
$
10,550,000
$
10,768,029
Nuvance
Health
Obligated
Group
,
Revenue
,
2019
B
,
Refunding
,
4
%
,
7/01/44
.....
1,900,000
1,822,345
Nuvance
Health
Obligated
Group
,
Revenue
,
2019
B
,
Refunding
,
4
%
,
7/01/49
.....
4,425,000
4,119,820
Vassar
College
,
Revenue
,
2017
,
Refunding
,
5
%
,
7/01/42
....................
5,000,000
5,166,960
Vassar
College
,
Revenue
,
2017
,
Refunding
,
4
%
,
7/01/46
....................
5,715,000
5,674,422
Empire
State
Development
Corp.
,
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
C
,
Refunding
,
5
%
,
3/15/40
8,400,000
8,759,801
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2019
A
,
5
%
,
3/15/42
.........
10,000,000
10,525,899
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2020
A
,
5
%
,
3/15/41
.........
5,000,000
5,418,181
State
of
New
York
Sales
Tax
,
Revenue
,
2024
A
,
5
%
,
3/15/54
.................
5,000,000
5,460,667
Genesee
County
Funding
Corp.
(The)
,
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2022
A
,
Refunding
,
5.25
%
,
12/01/52
............................
4,250,000
4,494,894
Hempstead
Town
Local
Development
Corp.
,
Hofstra
University
,
Revenue
,
2017
,
Refunding
,
5
%
,
7/01/42
..................
1,250,000
1,290,989
Hofstra
University
,
Revenue
,
2017
,
Refunding
,
5
%
,
7/01/47
..................
5,250,000
5,387,995
Hofstra
University
,
Revenue
,
2021
A
,
Refunding
,
4
%
,
7/01/39
.................
575,000
583,960
Hofstra
University
,
Revenue
,
2021
A
,
Refunding
,
4
%
,
7/01/40
.................
715,000
723,747
Hofstra
University
,
Revenue
,
2021
A
,
Refunding
,
4
%
,
7/01/41
.................
625,000
630,029
Hofstra
University
,
Revenue
,
2021
A
,
Refunding
,
3
%
,
7/01/51
.................
3,000,000
2,308,581
Hudson
Yards
Infrastructure
Corp.
,
Revenue
,
2017
A
,
Refunding
,
5
%
,
2/15/42
...............................
15,000,000
15,434,615
Revenue
,
2017
A
,
Refunding
,
AGMC
Insured
,
4
%
,
2/15/47
...................
13,680,000
13,718,360
Long
Island
Power
Authority
,
Revenue
,
2016
B
,
Refunding
,
5
%
,
9/01/41
...............................
10,250,000
10,502,338
Revenue
,
2018
,
5
%
,
9/01/39
.........................................
5,000,000
5,299,382
Revenue
,
2021
A
,
Refunding
,
4
%
,
9/01/42
...............................
1,500,000
1,517,708
Revenue
,
2022
A
,
Refunding
,
5
%
,
9/01/44
...............................
3,000,000
3,291,496
Revenue
,
2023
E
,
5
%
,
9/01/53
........................................
3,500,000
3,806,293
Revenue
,
2024
A
,
Refunding
,
5
%
,
9/01/54
...............................
8,000,000
8,758,674
Revenue
,
2024
A
,
Refunding
,
5.25
%
,
9/01/54
.............................
2,500,000
2,798,335
Metropolitan
Transportation
Authority
,
Revenue
,
2015
C-1
,
Refunding
,
5
%
,
11/15/35
............................
5,000,000
5,072,673
Revenue
,
2016
B
,
Refunding
,
5
%
,
11/15/33
..............................
6,000,000
6,156,055
Revenue
,
2016
B
,
Refunding
,
5
%
,
11/15/35
..............................
4,000,000
4,094,414
Revenue
,
2016
B
,
Refunding
,
5
%
,
11/15/37
..............................
18,500,000
18,907,725
Revenue
,
2016
D
,
Refunding
,
5
%
,
11/15/30
..............................
10,305,000
10,627,391
Revenue
,
2017
A-1
,
Refunding
,
5
%
,
11/15/51
.............................
2,505,000
2,564,647
Revenue
,
2017
C-1
,
Refunding
,
5
%
,
11/15/30
............................
6,215,000
6,585,982
Revenue
,
2017
D
,
Refunding
,
4
%
,
11/15/42
..............................
20,000,000
19,754,456
Revenue
,
2017
D
,
Refunding
,
4
%
,
11/15/46
..............................
5,000,000
4,888,583
Revenue
,
2019
C
,
AGMC
Insured
,
4
%
,
11/15/45
...........................
8,000,000
7,976,601
Revenue
,
2020
A-1
,
5
%
,
11/15/48
.....................................
17,000,000
17,802,609
Revenue
,
2020
C-1
,
4.75
%
,
11/15/45
...................................
2,950,000
3,052,892
Revenue
,
2020
C-1
,
5
%
,
11/15/50
.....................................
9,150,000
9,520,086
Revenue
,
2020
D
,
5
%
,
11/15/44
.......................................
15,000,000
15,876,090
Revenue
,
2020
D
,
4
%
,
11/15/50
.......................................
10,000,000
9,774,118
Revenue
,
2021
A-2
,
4
%
,
11/15/42
.....................................
5,000,000
4,995,387
Revenue
,
2024
A
,
Refunding
,
4
%
,
11/15/43
..............................
6,220,000
6,187,174
Revenue
,
2024
A
,
Refunding
,
5.25
%
,
11/15/49
............................
6,000,000
6,578,086
Dedicated
Tax
Fund
,
Revenue
,
2012
A
,
Refunding
,
Zero
Cpn.,
11/15/32
.........
10,000,000
7,568,398
Dedicated
Tax
Fund
,
Revenue
,
2017
A
,
5
%
,
11/15/47
.......................
30,375,000
31,146,422
Dedicated
Tax
Fund
,
Revenue
,
2017
B-1
,
Refunding
,
5
%
,
11/15/42
............
5,000,000
5,179,138
Dedicated
Tax
Fund
,
Revenue
,
2017
B-1
,
Refunding
,
5
%
,
11/15/47
............
13,505,000
13,921,655
Dedicated
Tax
Fund
,
Special
Tax
,
2024
A
,
5
%
,
11/15/49
.....................
2,500,000
2,752,133
Dedicated
Tax
Fund
,
Special
Tax
,
2024
A
,
5.25
%
,
11/15/54
...................
7,500,000
8,387,583
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
5
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
Monroe
County
Industrial
Development
Corp.
,
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2017
,
5
%
,
12/01/46
......
$
17,000,000
$
17,213,852
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/31
.......................................................
1,500,000
1,619,854
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/32
.......................................................
4,200,000
4,513,242
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/33
.......................................................
1,815,000
1,941,969
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/34
.......................................................
2,510,000
2,679,513
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
12/01/35
.......................................................
1,100,000
1,100,778
Rochester
Regional
Health
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
12/01/46
.......................................................
8,560,000
8,097,176
St.
John
Fisher
University
,
Revenue
,
2024
,
Refunding
,
5.25
%
,
6/01/49
..........
635,000
699,803
St.
John
Fisher
University
,
Revenue
,
2024
,
Refunding
,
5.25
%
,
6/01/54
..........
1,670,000
1,815,829
b
True
North
Rochester
Prep
Charter
School
,
Revenue
,
144A,
2020
A
,
5
%
,
6/01/50
.
2,360,000
2,398,342
b
True
North
Rochester
Prep
Charter
School
,
Revenue
,
144A,
2020
A
,
5
%
,
6/01/59
.
2,345,000
2,374,990
University
of
Rochester
,
Revenue
,
2017
C
,
Refunding
,
4
%
,
7/01/43
............
22,895,000
22,947,780
University
of
Rochester
,
Revenue
,
2017
D
,
Refunding
,
4
%
,
7/01/43
............
21,550,000
21,599,679
University
of
Rochester
,
Revenue
,
2023
A
,
5
%
,
7/01/53
.....................
10,000,000
10,857,482
Nassau
County
Local
Economic
Assistance
Corp.
,
Roosevelt
Children's
Academy
Charter
School
,
Revenue
,
2023
A
,
5
%
,
7/01/43
....
1,440,000
1,505,333
Roosevelt
Children's
Academy
Charter
School
,
Revenue
,
2023
A
,
5
%
,
7/01/55
....
2,605,000
2,665,127
New
York
City
Health
and
Hospitals
Corp.
,
Revenue
,
2020
A
,
Refunding
,
3
%
,
2/15/45
...............................
1,250,000
1,049,387
Revenue
,
2020
A
,
Refunding
,
4
%
,
2/15/45
...............................
1,800,000
1,802,343
Revenue
,
2020
A
,
Refunding
,
4
%
,
2/15/48
...............................
880,000
868,385
New
York
City
Housing
Development
Corp.
,
Revenue
,
2018
K
,
4
%
,
11/01/48
.......................................
36,505,000
35,769,884
Revenue
,
2019
G-1-B
,
Refunding
,
3
%
,
11/01/44
...........................
9,405,000
7,962,106
Revenue
,
2019
J
,
3
%
,
11/01/44
.......................................
4,935,000
4,206,508
Revenue
,
2020
C
,
FNMA
Insured
,
2.75
%
,
2/01/51
.........................
10,000,000
7,347,336
New
York
City
Industrial
Development
Agency
,
Queens
Ballpark
Co.
LLC
,
Revenue
,
2021
A
,
Refunding
,
AGMC
Insured
,
3
%
,
1/01/46
5,000,000
4,126,092
Yankee
Stadium
LLC
,
Revenue
,
2020
A
,
Refunding
,
AGMC
Insured
,
3
%
,
3/01/49
..
10,000,000
8,124,154
New
York
City
Municipal
Water
Finance
Authority
,
Water
&
Sewer
System
,
Revenue
,
2017
AA
,
4
%
,
6/15/46
....................
24,290,000
24,082,483
Water
&
Sewer
System
,
Revenue
,
2017
DD
,
5
%
,
6/15/47
....................
33,800,000
34,695,430
Water
&
Sewer
System
,
Revenue
,
2018
BB-1
,
5
%
,
6/15/46
..................
36,375,000
37,691,571
Water
&
Sewer
System
,
Revenue
,
2018
CC-1
,
5
%
,
6/15/48
..................
11,225,000
11,614,467
Water
&
Sewer
System
,
Revenue
,
2019
DD-1
,
5
%
,
6/15/49
..................
19,000,000
19,845,065
Water
&
Sewer
System
,
Revenue
,
2020
AA
,
Refunding
,
5
%
,
6/15/40
...........
10,000,000
10,785,445
Water
&
Sewer
System
,
Revenue
,
2022
AA-1
,
5
%
,
6/15/48
..................
8,825,000
9,484,767
Water
&
Sewer
System
,
Revenue
,
2023
AA-1
,
5.25
%
,
6/15/52
................
16,750,000
18,481,732
Water
&
Sewer
System
,
Revenue
,
2024
CC-1
,
4.25
%
,
6/15/54
................
2,500,000
2,546,216
Water
&
Sewer
System
,
Revenue
,
2025
AA-1
,
5.25
%
,
6/15/53
................
9,000,000
10,113,781
New
York
City
Transitional
Finance
Authority
,
Future
Tax
Secured
,
Revenue
,
2016
A-1
,
5
%
,
8/01/36
......................
10,000,000
10,095,923
Future
Tax
Secured
,
Revenue
,
2017
E-1
,
5
%
,
2/01/33
......................
6,500,000
6,751,930
Future
Tax
Secured
,
Revenue
,
2017
F-1
,
5
%
,
5/01/42
......................
17,500,000
18,152,556
Future
Tax
Secured
,
Revenue
,
2018
C-3
,
4
%
,
5/01/42
......................
7,410,000
7,435,366
Future
Tax
Secured
,
Revenue
,
2019
A-1
,
5
%
,
8/01/40
......................
9,340,000
9,859,152
Future
Tax
Secured
,
Revenue
,
2020
B-1
,
4
%
,
11/01/41
.....................
7,205,000
7,256,217
Future
Tax
Secured
,
Revenue
,
2021
C-1
,
4
%
,
5/01/43
......................
5,000,000
5,047,252
Future
Tax
Secured
,
Revenue
,
2023
D-1
,
5
%
,
11/01/46
.....................
10,000,000
10,894,821
Future
Tax
Secured
,
Revenue
,
2024
A-1
,
4
%
,
5/01/53
......................
3,000,000
2,931,877
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
6
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
New
York
City
Transitional
Finance
Authority,
(continued)
Future
Tax
Secured
,
Revenue
,
2024
G-1
,
4.125
%
,
5/01/52
...................
$
6,500,000
$
6,513,435
Future
Tax
Secured
,
Revenue
,
2024
G-1
,
5
%
,
5/01/52
......................
4,000,000
4,374,172
Future
Tax
Secured
,
Revenue
,
2025
C-1
,
5.25
%
,
5/01/49
....................
5,000,000
5,622,758
Future
Tax
Secured
,
Revenue
,
2025
D
,
5
%
,
5/01/50
........................
2,375,000
2,614,138
State
of
New
York
,
Revenue
,
2018
S-3
,
5
%
,
7/15/43
........................
10,000,000
10,530,907
State
of
New
York
,
Revenue
,
2019
S-1
,
5
%
,
7/15/43
........................
22,230,000
23,410,206
State
of
New
York
,
Revenue
,
2020
S-1
,
4
%
,
7/15/41
........................
8,465,000
8,590,384
State
of
New
York
,
Revenue
,
2020
S-1B
,
4
%
,
7/15/41
......................
2,465,000
2,479,914
New
York
Convention
Center
Development
Corp.
,
New
York
City
Hotel
Unit
Fee
,
Revenue,
Senior
Lien
,
2016
A
,
5
%
,
11/15/46
.............................
5,000,000
5,096,166
New
York
Liberty
Development
Corp.
,
Revenue
,
2021
A
,
Refunding
,
3
%
,
11/15/51
..............................
18,000,000
14,140,796
Goldman
Sachs
Headquarters
LLC
,
Revenue
,
2005
,
Refunding
,
5.25
%
,
10/01/35
..
91,360,000
106,673,517
Goldman
Sachs
Headquarters
LLC
,
Revenue
,
2007
,
5.5
%
,
10/01/37
...........
27,000,000
32,479,682
Port
Authority
of
New
York
&
New
Jersey
,
Revenue
,
1WTC
2021
,
Refunding
,
3
%
,
2/15/42
........................................................
5,000,000
4,388,239
Port
Authority
of
New
York
&
New
Jersey
,
Revenue
,
1WTC-2021
,
Refunding
,
4
%
,
2/15/43
........................................................
5,000,000
4,992,859
New
York
Power
Authority
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
11/15/60
..............................
11,455,000
11,240,615
SFP
Transmission
Project
,
Revenue
,
2023
A
,
AGMC
Insured
,
5
%
,
11/15/53
......
3,000,000
3,276,351
New
York
State
Dormitory
Authority
,
Revenue
,
2008
A-1
,
5
%
,
6/01/38
......................................
3,970,000
3,974,315
Revenue
,
2009
A
,
AGMC
Insured
,
5.625
%
,
10/01/29
.......................
300,000
300,601
Revenue
,
2009
C
,
AGMC
Insured
,
5
%
,
10/01/31
..........................
45,000
45,067
Revenue
,
2009
C
,
AGMC
Insured
,
5.125
%
,
10/01/36
.......................
60,000
60,099
Catholic
Health
System
Obligated
Group
,
Revenue
,
2019
A
,
Refunding
,
4
%
,
7/01/37
1,705,000
1,532,358
Catholic
Health
System
Obligated
Group
,
Revenue
,
2019
A
,
Refunding
,
4
%
,
7/01/38
2,200,000
1,960,887
Catholic
Health
System
Obligated
Group
,
Revenue
,
2019
A
,
Refunding
,
4
%
,
7/01/39
1,305,000
1,148,712
Catholic
Health
System
Obligated
Group
,
Revenue
,
2019
A
,
Refunding
,
4
%
,
7/01/40
1,300,000
1,143,665
Catholic
Health
System
Obligated
Group
,
Revenue
,
2019
A
,
Refunding
,
5
%
,
7/01/41
2,100,000
2,092,883
Catholic
Health
System
Obligated
Group
,
Revenue
,
2019
A
,
Refunding
,
4
%
,
7/01/45
5,835,000
4,949,840
Educational
Housing
Services,
Inc.
,
Revenue
,
2005
,
AMBAC
Insured
,
5.25
%
,
7/01/30
5,150,000
5,353,977
Fashion
Institute
of
Technology
,
Revenue
,
2007
,
NATL
Insured
,
5.25
%
,
7/01/26
...
6,105,000
6,189,732
Fashion
Institute
of
Technology
,
Revenue
,
2007
,
NATL
Insured
,
5.25
%
,
7/01/34
...
13,220,000
13,744,361
Fordham
University
,
Revenue
,
2020
,
4
%
,
7/01/50
..........................
4,500,000
4,464,613
b
Garnet
Health
Medical
Center
Obligated
Group
,
Revenue
,
144A,
2015
,
Refunding
,
5
%
,
12/01/45
...................................................
1,000,000
931,044
b
Garnet
Health
Medical
Center
Obligated
Group
,
Revenue
,
144A,
2017
,
Refunding
,
5
%
,
12/01/32
...................................................
500,000
499,479
b
Garnet
Health
Medical
Center
Obligated
Group
,
Revenue
,
144A,
2017
,
Refunding
,
5
%
,
12/01/33
...................................................
4,000,000
3,980,237
b
Garnet
Health
Medical
Center
Obligated
Group
,
Revenue
,
144A,
2017
,
Refunding
,
5
%
,
12/01/35
...................................................
1,100,000
1,086,583
b
Garnet
Health
Medical
Center
Obligated
Group
,
Revenue
,
144A,
2017
,
Refunding
,
5
%
,
12/01/36
...................................................
2,100,000
2,065,864
b
Garnet
Health
Medical
Center
Obligated
Group
,
Revenue
,
144A,
2017
,
Refunding
,
5
%
,
12/01/37
...................................................
2,000,000
1,957,133
Iona
College
,
Revenue
,
2021
A
,
5
%
,
7/01/46
.............................
925,000
955,013
Iona
College
,
Revenue
,
2021
A
,
5
%
,
7/01/51
.............................
1,100,000
1,127,165
Iona
College
,
Revenue
,
2022
,
Refunding
,
5
%
,
7/01/31
......................
325,000
353,212
Iona
College
,
Revenue
,
2022
,
Refunding
,
5
%
,
7/01/32
......................
300,000
328,114
Iona
College
,
Revenue
,
2022
,
Refunding
,
5
%
,
7/01/37
......................
225,000
240,246
Iona
College
,
Revenue
,
2022
,
Refunding
,
5
%
,
7/01/42
......................
275,000
288,108
Memorial
Sloan-Kettering
Cancer
Center
,
Revenue
,
2017-1
,
Refunding
,
4
%
,
7/01/47
5,000,000
4,973,350
Montefiore
Obligated
Group
,
Revenue
,
2018
A
,
Refunding
,
5
%
,
8/01/31
.........
525,000
548,256
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
7
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
New
York
State
Dormitory
Authority,
(continued)
Montefiore
Obligated
Group
,
Revenue
,
2018
A
,
Refunding
,
5
%
,
8/01/33
.........
$
1,150,000
$
1,197,607
Montefiore
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
9/01/30
.........
1,800,000
1,932,332
Montefiore
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
9/01/45
.........
10,900,000
10,423,699
Montefiore
Obligated
Group
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
9/01/50
.........
1,370,000
1,281,429
Montefiore
Obligated
Group
,
Revenue
,
2024
,
5.5
%
,
11/01/47
.................
500,000
551,680
New
School
(The)
,
Revenue
,
2015
A
,
Pre-Refunded
,
5
%
,
7/01/40
.............
380,000
384,243
New
School
(The)
,
Revenue
,
2015
A
,
5
%
,
7/01/45
.........................
13,845,000
13,894,874
New
School
(The)
,
Revenue
,
2015
A
,
Pre-Refunded
,
5
%
,
7/01/45
.............
660,000
667,370
New
School
(The)
,
Revenue
,
2022
A
,
Refunding
,
4
%
,
7/01/47
................
4,000,000
3,961,121
New
York
Institute
of
Technology
,
Revenue
,
2024
,
5.25
%
,
7/01/49
.............
1,300,000
1,408,333
New
York
Institute
of
Technology
,
Revenue
,
2024
,
5.25
%
,
7/01/54
.............
2,900,000
3,119,114
New
York
University
,
Revenue
,
2017
A
,
Refunding
,
5
%
,
7/01/43
...............
3,000,000
3,110,030
New
York
University
,
Revenue
,
2018
A
,
5
%
,
7/01/48
........................
5,000,000
5,266,926
New
York
University
,
Revenue
,
2019
A
,
4
%
,
7/01/45
........................
3,415,000
3,415,961
New
York
University
,
Revenue
,
2019
A
,
5
%
,
7/01/49
........................
50,000,000
53,019,030
Northwell
Health
Obligated
Group
,
Revenue
,
2022
A
,
Refunding
,
5
%
,
5/01/52
....
13,490,000
14,376,221
Northwell
Health
Obligated
Group
,
Revenue
,
2024
A
,
Refunding
,
4
%
,
5/01/54
....
2,500,000
2,390,244
Northwell
Health
Obligated
Group
,
Revenue
,
2024
A
,
Refunding
,
5.25
%
,
5/01/54
..
5,000,000
5,532,679
NYU
Langone
Hospitals
Obligated
Group
,
Revenue
,
2020
A
,
3
%
,
7/01/48
.......
4,000,000
3,271,833
NYU
Langone
Hospitals
Obligated
Group
,
Revenue
,
2020
A
,
4
%
,
7/01/50
.......
20,420,000
20,291,630
NYU
Langone
Hospitals
Obligated
Group
,
Revenue
,
2020
A
,
4
%
,
7/01/53
.......
25,280,000
24,923,365
Pace
University
,
Revenue
,
2024
A
,
5.5
%
,
5/01/49
..........................
500,000
550,716
Pace
University
,
Revenue
,
2024
A
,
5.5
%
,
5/01/56
..........................
1,000,000
1,095,311
Rochester
Institute
of
Technology
,
Revenue
,
2019
A
,
5
%
,
7/01/49
..............
3,500,000
3,667,850
Rochester
Institute
of
Technology
,
Revenue
,
2022
A
,
5
%
,
7/01/41
..............
1,000,000
1,107,101
Rochester
Institute
of
Technology
,
Revenue
,
2022
A
,
5
%
,
7/01/42
..............
1,000,000
1,102,485
Rockefeller
University
(The)
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
7/01/53
.........
6,500,000
6,899,395
St.
John's
University
,
Revenue
,
2021
A
,
Refunding
,
4
%
,
7/01/48
...............
6,250,000
6,186,734
St.
Joseph's
College
,
Revenue
,
2021
,
4
%
,
7/01/40
.........................
225,000
194,354
St.
Joseph's
College
,
Revenue
,
2021
,
5
%
,
7/01/51
.........................
725,000
664,184
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
A
,
Pre-Refunded
,
5
%
,
2/15/39
........................................................
15,000
15,774
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
B
,
Pre-Refunded
,
5
%
,
2/15/40
........................................................
10,000
10,637
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
B
,
Pre-Refunded
,
5
%
,
2/15/41
........................................................
30,000
31,910
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
B
,
5
%
,
2/15/43
.........
17,050,000
17,696,964
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
B
,
Pre-Refunded
,
5
%
,
2/15/43
........................................................
30,000
31,910
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
B
,
4
%
,
2/15/46
.........
19,985,000
20,016,750
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
B
,
Pre-Refunded
,
4
%
,
2/15/46
........................................................
15,000
15,566
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2017
B-3
,
5
%
,
2/15/41
.......
9,895,000
10,299,006
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2018
A
,
Refunding
,
5
%
,
3/15/45
10,000,000
10,532,259
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2024
A
,
Refunding
,
5.25
%
,
3/15/49
........................................................
10,000,000
11,137,672
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2024
A
,
Refunding
,
5.25
%
,
3/15/52
........................................................
8,850,000
9,839,932
State
of
New
York
Sales
Tax
,
Revenue
,
2016
A
,
5
%
,
3/15/36
.................
9,800,000
10,084,280
State
of
New
York
Sales
Tax
,
Revenue
,
2017
A
,
5
%
,
3/15/41
.................
10,000,000
10,314,116
State
of
New
York
Sales
Tax
,
Revenue
,
2018
A
,
4
%
,
3/15/46
.................
25,000,000
25,002,537
State
of
New
York
Sales
Tax
,
Revenue
,
2018
C
,
Refunding
,
4
%
,
3/15/44
........
5,310,000
5,319,614
State
of
New
York
Sales
Tax
,
Revenue
,
2018
E
,
Refunding
,
5
%
,
3/15/37
........
15,340,000
16,357,771
State
of
New
York
Sales
Tax
,
Revenue
,
2018
E
,
Refunding
,
5
%
,
3/15/45
........
6,235,000
6,564,601
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2017
A
,
Pre-Refunded
,
5
%
,
7/01/42
....................................................
780,000
827,802
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
8
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
New
York
State
Dormitory
Authority,
(continued)
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2017
A
,
Pre-Refunded
,
5
%
,
7/01/46
....................................................
$
4,000,000
$
4,245,139
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2018
A
,
5
%
,
7/01/43
..
4,300,000
4,474,867
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2018
A
,
5
%
,
7/01/48
..
7,950,000
8,233,209
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2018
A
,
Pre-Refunded
,
5
%
,
7/01/48
....................................................
5,975,000
6,462,756
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2019
A
,
3
%
,
7/01/42
..
4,165,000
3,631,954
State
University
of
New
York
Dormitory
Facilities
,
Revenue
,
2019
A
,
4
%
,
7/01/43
..
1,200,000
1,199,320
Teachers
College
,
Revenue
,
2022
,
Refunding
,
4
%
,
7/01/46
..................
6,175,000
6,226,955
White
Plains
Hospital
Obligated
Group
,
Revenue
,
2024
,
5.25
%
,
10/01/49
........
2,000,000
2,155,095
New
York
State
Environmental
Facilities
Corp.
,
State
of
New
York
State
Revolving
Fund
,
Revenue
,
2017
A
,
Refunding
,
5
%
,
6/15/46
17,250,000
17,899,844
State
of
New
York
State
Revolving
Fund
,
Revenue
,
2017
E
,
5
%
,
6/15/42
........
8,355,000
8,704,537
State
of
New
York
State
Revolving
Fund
,
Revenue
,
2017
E
,
5
%
,
6/15/47
........
4,345,000
4,504,654
State
of
New
York
State
Revolving
Fund
,
Revenue
,
2018
B
,
5
%
,
6/15/43
........
8,000,000
8,425,295
State
of
New
York
State
Revolving
Fund
,
Revenue
,
2018
B
,
5
%
,
6/15/48
........
18,610,000
19,397,545
State
of
New
York
State
Revolving
Fund
,
Revenue
,
2022
B
,
5.25
%
,
9/15/52
......
5,000,000
5,543,264
New
York
State
Housing
Finance
Agency
,
Revenue
,
2020
E
,
2.45
%
,
11/01/50
......
3,000,000
2,031,194
New
York
State
Thruway
Authority
,
Revenue
,
2019
B
,
4
%
,
1/01/41
........................................
12,000,000
12,049,661
Revenue
,
2019
B
,
3
%
,
1/01/46
........................................
4,200,000
3,436,477
Revenue
,
2019
B
,
BAM
Insured
,
4
%
,
1/01/50
.............................
20,000,000
19,828,554
Revenue
,
2019
B
,
4
%
,
1/01/53
........................................
15,000,000
14,778,430
Revenue
,
N
,
4
%
,
1/01/46
............................................
10,000,000
10,021,637
Revenue
,
P
,
Refunding
,
5.25
%
,
1/01/54
.................................
1,000,000
1,105,581
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2022
A
,
Refunding
,
5
%
,
3/15/46
4,125,000
4,489,343
State
of
New
York
Personal
Income
Tax
,
Revenue
,
2022
A
,
Refunding
,
5
%
,
3/15/48
25,000,000
27,051,305
New
York
Transportation
Development
Corp.
,
Delta
Air
Lines,
Inc.
,
Revenue
,
2018
,
5
%
,
1/01/32
..........................
5,500,000
5,682,919
Delta
Air
Lines,
Inc.
,
Revenue
,
2020
,
4
%
,
10/01/30
.........................
12,400,000
12,448,704
Delta
Air
Lines,
Inc.
,
Revenue
,
2020
,
5
%
,
10/01/35
.........................
6,305,000
6,622,101
Delta
Air
Lines,
Inc.
,
Revenue
,
2020
,
5
%
,
10/01/40
.........................
11,000,000
11,443,176
Delta
Air
Lines,
Inc.
,
Revenue
,
2020
,
4.375
%
,
10/01/45
.....................
26,500,000
25,831,198
Delta
Air
Lines,
Inc.
,
Revenue
,
2023
,
5.625
%
,
4/01/40
......................
5,000,000
5,413,149
Empire
State
Thruway
Partners
LLC
,
Revenue
,
2021
,
4
%
,
10/31/41
............
2,130,000
2,008,439
Empire
State
Thruway
Partners
LLC
,
Revenue
,
2021
,
4
%
,
10/31/46
............
6,000,000
5,455,379
Empire
State
Thruway
Partners
LLC
,
Revenue
,
2021
,
4
%
,
4/30/53
.............
19,875,000
17,539,946
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/34
...
450,000
476,917
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/35
...
400,000
422,744
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/36
...
400,000
421,716
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
12/01/37
...
350,000
367,750
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
12/01/38
...
300,000
300,340
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
12/01/39
...
400,000
398,670
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
12/01/40
...
2,555,000
2,526,909
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
12/01/42
...
910,000
889,749
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
C
,
Refunding
,
5
%
,
12/01/33
...
1,200,000
1,302,762
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
C
,
Refunding
,
5
%
,
12/01/34
...
2,000,000
2,166,346
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
C
,
Refunding
,
5
%
,
12/01/36
...
2,000,000
2,155,009
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
C
,
Refunding
,
4
%
,
12/01/39
...
4,545,000
4,564,324
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
C
,
Refunding
,
4
%
,
12/01/41
...
10,300,000
10,256,267
JFK
International
Air
Terminal
LLC
,
Revenue
,
2020
C
,
Refunding
,
4
%
,
12/01/42
...
9,690,000
9,583,158
JFK
International
Air
Terminal
LLC
,
Revenue
,
2022
,
5
%
,
12/01/42
.............
6,000,000
6,299,442
JFK
Millennium
Partners
LLC
,
Revenue
,
2024
A
,
Refunding
,
AGMC
Insured
,
5.25
%
,
12/31/54
.......................................................
12,500,000
13,473,401
JFK
Millennium
Partners
LLC
,
Revenue
,
2024
B
,
Refunding
,
AGMC
Insured
,
Zero
Cpn.,
12/31/54
..................................................
9,000,000
6,040,077
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
9
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
New
York
Transportation
Development
Corp.,
(continued)
JFK
NTO
LLC
,
Revenue
,
2023
,
6
%
,
6/30/54
..............................
$
6,500,000
$
7,095,950
JFK
NTO
LLC
,
Revenue
,
2023
,
AGMC
Insured
,
5.125
%
,
6/30/60
..............
10,000,000
10,392,542
JFK
NTO
LLC
,
Revenue
,
2023
,
5.375
%
,
6/30/60
..........................
15,160,000
15,863,648
JFK
NTO
LLC
,
Revenue
,
2024
,
5
%
,
6/30/60
..............................
13,000,000
13,355,501
JFK
NTO
LLC
,
Revenue
,
2024
,
5.5
%
,
6/30/60
............................
10,500,000
11,224,660
Oneida
County
Local
Development
Corp.
,
Mohawk
Valley
Health
System
Obligated
Group
,
Revenue
,
2021
A
,
AGMC
Insured
,
4
%
,
12/01/51
.....................
4,000,000
3,858,575
b
Oneida
Indian
Nation
of
New
York
,
Revenue
,
144A,
2024
B
,
6
%
,
9/01/43
..........
2,150,000
2,378,940
Onondaga
Civic
Development
Corp.
,
Le
Moyne
College
,
Revenue
,
2021
,
4
%
,
7/01/38
...........................
200,000
195,724
Le
Moyne
College
,
Revenue
,
2021
,
4
%
,
7/01/41
...........................
245,000
233,134
Le
Moyne
College
,
Revenue
,
2021
,
5
%
,
7/01/46
...........................
460,000
470,706
Le
Moyne
College
,
Revenue
,
2021
,
5
%
,
7/01/51
...........................
820,000
832,332
Le
Moyne
College
,
Revenue
,
2022
,
Refunding
,
5
%
,
7/01/32
..................
725,000
771,426
Le
Moyne
College
,
Revenue
,
2022
,
Refunding
,
4
%
,
7/01/34
..................
315,000
315,634
Le
Moyne
College
,
Revenue
,
2022
,
Refunding
,
4
%
,
7/01/36
..................
350,000
348,257
Le
Moyne
College
,
Revenue
,
2022
,
Refunding
,
4
%
,
7/01/39
..................
475,000
458,682
Le
Moyne
College
,
Revenue
,
2022
,
Refunding
,
4
%
,
7/01/42
..................
530,000
500,052
Onondaga
County
Trust
for
Cultural
Resources
,
Syracuse
University
,
Revenue
,
2019
,
Refunding
,
5
%
,
12/01/43
................
5,000,000
5,350,517
Syracuse
University
,
Revenue
,
2019
,
Refunding
,
4
%
,
12/01/47
................
17,000,000
17,073,931
Port
Authority
of
New
York
&
New
Jersey
,
Revenue
,
194
,
Refunding
,
5
%
,
10/15/41
.................................
10,000,000
10,110,803
Revenue
,
200
,
Refunding
,
5
%
,
4/15/57
.................................
11,040,000
11,362,278
Revenue
,
2014
,
5
%
,
9/01/34
.........................................
2,500,000
2,644,438
Revenue
,
205th
,
Refunding
,
5
%
,
5/15/57
................................
13,000,000
13,468,428
Revenue
,
211th
,
Refunding
,
5
%
,
9/01/48
................................
41,730,000
43,433,999
Revenue
,
214th
,
4
%
,
9/01/38
.........................................
5,000,000
5,015,595
Revenue
,
217th
,
4
%
,
11/01/41
........................................
10,000,000
10,084,819
Revenue
,
221
,
4
%
,
7/15/45
..........................................
7,610,000
7,410,699
Revenue
,
221
,
4
%
,
7/15/50
..........................................
15,250,000
14,628,425
Revenue
,
234
,
Refunding
,
5.5
%
,
8/01/52
................................
4,000,000
4,384,746
Revenue
,
238
,
Refunding
,
5
%
,
7/15/37
.................................
4,000,000
4,409,056
Revenue
,
240
,
Refunding
,
5
%
,
7/15/53
.................................
2,500,000
2,724,751
Revenue
,
246
,
Refunding
,
5
%
,
9/01/39
.................................
5,000,000
5,506,177
Revenue
,
246
,
Refunding
,
5
%
,
9/01/40
.................................
2,000,000
2,191,413
Saratoga
County
Capital
Resource
Corp.
,
Skidmore
College
,
Revenue
,
2020
A
,
4
%
,
7/01/50
......................................................
2,250,000
2,260,065
Schenectady
County
Capital
Resource
Corp.
,
Trustees
of
Union
College
,
Revenue
,
2017
,
Refunding
,
5
%
,
1/01/47
............
6,590,000
6,745,487
Trustees
of
Union
College
,
Revenue
,
2022
,
Refunding
,
5.25
%
,
7/01/52
.........
700,000
772,551
St.
Lawrence
County
Industrial
Development
Agency
,
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/34
...............
465,000
497,003
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/35
...............
475,000
506,196
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/36
...............
500,000
530,744
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/37
...............
525,000
555,573
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/38
...............
435,000
458,470
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/39
...............
400,000
419,332
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/40
...............
475,000
495,554
Clarkson
University
,
Revenue
,
2021
B
,
Refunding
,
5
%
,
9/01/41
...............
525,000
544,897
St.
Lawrence
University
,
Revenue
,
2022
,
Refunding
,
5.25
%
,
7/01/47
...........
1,820,000
1,982,616
St.
Lawrence
University
,
Revenue
,
2022
,
Refunding
,
5.25
%
,
7/01/52
...........
2,500,000
2,705,794
Suffolk
County
Water
Authority
,
Revenue
,
2018
A
,
4
%
,
6/01/41
.................
10,000,000
10,084,505
Suffolk
Tobacco
Asset
Securitization
Corp.
,
Revenue
,
2021
A-2
,
Refunding
,
4
%
,
6/01/36
.............................
2,425,000
2,453,421
Revenue
,
2021
A-2
,
Refunding
,
4
%
,
6/01/37
.............................
1,250,000
1,260,582
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
10
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
Suffolk
Tobacco
Asset
Securitization
Corp.,
(continued)
Revenue
,
2021
A-2
,
Refunding
,
4
%
,
6/01/38
.............................
$
1,000,000
$
1,004,875
Revenue
,
2021
A-2
,
Refunding
,
4
%
,
6/01/39
.............................
1,465,000
1,461,486
Revenue
,
2021
A-2
,
Refunding
,
4
%
,
6/01/40
.............................
1,415,000
1,398,857
Revenue
,
2021
A-2
,
Refunding
,
4
%
,
6/01/41
.............................
1,340,000
1,313,300
Revenue
,
2021
A-2
,
Refunding
,
4
%
,
6/01/50
.............................
4,500,000
4,141,015
Revenue
,
2021
B-1
,
Refunding
,
4
%
,
6/01/50
.............................
4,285,000
4,250,445
Syracuse
Regional
Airport
Authority
,
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/35
.................................
735,000
739,458
Revenue
,
2021
,
Refunding
,
4
%
,
7/01/36
.................................
750,000
751,530
Tompkins
County
Development
Corp.
,
Kendal
at
Ithaca,
Inc.
,
Revenue
,
2022
A
,
Refunding
,
4
%
,
7/01/42
.............................................
3,440,000
3,405,615
Triborough
Bridge
&
Tunnel
Authority
,
Revenue
,
2013
A
,
Refunding
,
Zero
Cpn.,
11/15/31
.........................
5,000,000
3,923,205
Revenue
,
2017
A
,
Refunding
,
5
%
,
11/15/47
..............................
18,120,000
18,695,817
Revenue
,
2017
B
,
Refunding
,
5
%
,
11/15/37
..............................
8,055,000
8,389,068
Revenue
,
2017
C-2
,
5
%
,
11/15/42
.....................................
18,190,000
18,986,669
Revenue
,
2020
A
,
5
%
,
11/15/49
.......................................
10,000,000
10,625,662
Revenue
,
2020
A
,
5
%
,
11/15/54
.......................................
10,000,000
10,579,212
Revenue
,
2024
A-1
,
5.25
%
,
11/15/51
...................................
5,000,000
5,613,396
Metropolitan
Transportation
Authority
Payroll
Mobility
Tax
,
Revenue,
Senior
Lien
,
2021
A-1
,
Refunding
,
5
%
,
5/15/51
....................................
20,000,000
21,419,474
Metropolitan
Transportation
Authority
Payroll
Mobility
Tax
,
Revenue,
Senior
Lien
,
2022
D-1B
,
Refunding
,
Zero
Cpn.,
11/15/36
............................
6,250,000
3,989,301
Metropolitan
Transportation
Authority
Payroll
Mobility
Tax
,
Revenue,
Senior
Lien
,
2022
D-1B
,
Refunding
,
Zero
Cpn.,
11/15/39
............................
1,115,000
613,130
Metropolitan
Transportation
Authority
Payroll
Mobility
Tax
,
Revenue,
Senior
Lien
,
2024
B-1
,
Refunding
,
4.125
%
,
5/15/54
................................
5,000,000
4,984,182
Metropolitan
Transportation
Authority
Payroll
Mobility
Tax
,
Revenue,
Senior
Lien
,
2024
B-1
,
Refunding
,
5.25
%
,
5/15/54
.................................
19,000,000
21,138,623
Sales
Tax
,
Revenue
,
2023
A
,
4
%
,
5/15/48
...............................
9,175,000
9,211,454
Sales
Tax
,
Revenue
,
2024
A-1
,
5.25
%
,
5/15/64
...........................
10,000,000
11,033,744
Troy
Capital
Resource
Corp.
,
Revenue
,
2021
,
Refunding
,
4
%
,
9/01/35
.................................
180,000
183,248
Revenue
,
2021
,
Refunding
,
4
%
,
9/01/36
.................................
280,000
284,490
Rensselaer
Polytechnic
Institute
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
9/01/35
......
3,200,000
3,501,245
Rensselaer
Polytechnic
Institute
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
9/01/37
......
5,000,000
5,426,321
Rensselaer
Polytechnic
Institute
,
Revenue
,
2020
A
,
Refunding
,
5
%
,
9/01/38
......
3,800,000
4,108,884
Rensselaer
Polytechnic
Institute
,
Revenue
,
2020
A
,
Refunding
,
4
%
,
9/01/40
......
1,500,000
1,504,626
Utility
Debt
Securitization
Authority
,
Revenue
,
2017
,
5
%
,
12/15/39
........................................
5,750,000
6,018,309
Revenue
,
2017
,
5
%
,
12/15/40
........................................
10,000,000
10,456,443
Revenue
,
2017
,
5
%
,
12/15/41
........................................
8,500,000
8,875,390
Westchester
County
Local
Development
Corp.
,
Kendal
on
Hudson
Obligated
Group
,
Revenue
,
2022
B
,
Refunding
,
4.25
%
,
1/01/45
2,925,000
2,913,168
Kendal
on
Hudson
Obligated
Group
,
Revenue
,
2022
B
,
Refunding
,
5
%
,
1/01/51
...
2,500,000
2,580,523
New
York
Blood
Center,
Inc.
,
Revenue
,
2024
,
5
%
,
7/01/35
...................
2,250,000
2,493,978
New
York
Blood
Center,
Inc.
,
Revenue
,
2024
,
5
%
,
7/01/38
...................
2,260,000
2,476,335
Westchester
County
Health
Care
Corp.
Obligated
Group
,
Revenue
,
2023
,
AGMC
Insured
,
5.75
%
,
11/01/49
..........................................
1,000,000
1,131,313
Westchester
County
Health
Care
Corp.
Obligated
Group
,
Revenue
,
2023
,
AGMC
Insured
,
5
%
,
11/01/51
.............................................
1,200,000
1,287,268
Westchester
County
Health
Care
Corp.
Obligated
Group
,
Revenue
,
2023
,
6.25
%
,
11/01/52
.......................................................
1,000,000
1,144,048
Westchester
County
Health
Care
Corp.
Obligated
Group
,
Revenue
,
2023
,
AGMC
Insured
,
5.75
%
,
11/01/53
..........................................
1,000,000
1,125,448
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
11
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
New
York
(continued)
Western
Nassau
County
Water
Authority
,
Revenue
,
2015
A
,
Pre-Refunded
,
5
%
,
4/01/40
............................
$
1,400,000
$
1,409,336
Revenue
,
2015
A
,
Pre-Refunded
,
5
%
,
4/01/45
............................
2,250,000
2,265,004
Yonkers
Industrial
Development
Agency
,
Revenue
,
2022
,
5.25
%
,
5/01/51
.........
1,600,000
1,750,750
2,495,648,560
South
Carolina
1.1%
South
Carolina
Jobs-Economic
Development
Authority
,
b
Revenue
,
144A,
2021
A-1
,
3.65
%
,
12/01/36
..............................
6,900,000
6,067,140
AHPC
Vista
Towers
2021
LLC
,
Revenue
,
2021
A-1
,
3.65
%
,
12/01/36
...........
6,900,000
6,067,140
b
Columbia
Portfolio
Obligated
Group
,
Revenue
,
144A,
2022
A-2
,
Zero
Cpn.,
6/01/52
16,250,000
12,561,212
b
South
Carolina
State
Housing
Finance
&
Development
Authority
,
Garden
Oaks
LP
,
Revenue
,
144A,
2021
A
,
4.2
%
,
12/01/39
................................
6,000,000
5,100,726
29,796,218
Texas
0.4%
City
of
Dallas
,
DHFC
-
Briscoe
Apartments
LLC
(The)
,
Revenue,
Senior
Lien
,
2022
A
,
6
%
,
12/01/62
.....................................................
4,390,000
4,363,947
b
Pecan
Public
Facility
Corp.
,
Revenue
,
144A,
2022
A-2
,
5
%
,
12/01/52
............
10,000,000
8,380,040
12,743,987
Washington
0.2%
b
Washington
State
Housing
Finance
Commission
,
Madison
at
Rivers
Edge
Apartments
LLC
,
Revenue
,
144A,
2021
A
,
3.65
%
,
1/01/37
............................
6,900,000
6,068,446
Wisconsin
0.5%
b
Public
Finance
Authority
,
Revenue
,
144A,
2022
,
B-1
,
4
%
,
12/28/44
................................
6,500,000
5,486,647
Patriot
Services
Group
Obligated
Group
,
Revenue
,
144A,
2024
A-2
,
Refunding
,
Zero
Cpn.,
12/01/44
..................................................
10,875,000
6,901,298
Pine
Forest
2022
Obligated
Group
,
Revenue
,
144A,
2022
A
,
6.5
%
,
12/01/52
.....
1,500,000
1,551,895
13,939,840
U.S.
Territories
2.4%
Guam
0.4%
Antonio
B
Won
Pat
International
Airport
Authority
,
Revenue
,
2023
A
,
Refunding
,
5
%
,
10/01/28
..............................
520,000
538,348
Revenue
,
2023
A
,
Refunding
,
5.25
%
,
10/01/29
............................
700,000
743,740
Revenue
,
2023
A
,
Refunding
,
5.25
%
,
10/01/31
............................
775,000
834,145
Revenue
,
2023
A
,
Refunding
,
5.375
%
,
10/01/33
...........................
525,000
566,480
Revenue
,
2023
A
,
Refunding
,
5.25
%
,
10/01/36
............................
685,000
739,366
Revenue
,
2023
A
,
Refunding
,
5.375
%
,
10/01/40
...........................
525,000
569,512
Revenue
,
2023
A
,
Refunding
,
5.375
%
,
10/01/43
...........................
1,250,000
1,342,090
Revenue
,
2024
A
,
5
%
,
10/01/34
.......................................
670,000
716,369
Revenue
,
2024
A
,
5.25
%
,
10/01/41
....................................
1,400,000
1,512,071
Guam
Power
Authority
,
Revenue
,
2024
A
,
Refunding
,
5
%
,
10/01/34
..............................
710,000
798,827
Revenue
,
2024
A
,
Refunding
,
5
%
,
10/01/35
..............................
500,000
562,010
Revenue
,
2024
A
,
Refunding
,
5
%
,
10/01/36
..............................
450,000
502,708
Revenue
,
2024
A
,
Refunding
,
5
%
,
10/01/37
..............................
455,000
506,127
Revenue
,
2024
A
,
Refunding
,
5
%
,
10/01/38
..............................
575,000
636,589
Revenue
,
2024
A
,
Refunding
,
5
%
,
10/01/40
..............................
520,000
570,122
Revenue
,
2024
A
,
Refunding
,
5
%
,
10/01/42
..............................
250,000
269,781
11,408,285
Franklin
New
York
Tax-Free
Income
Fund
Schedule
of
Investments
(unaudited)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
12
See
Abbreviations
on
page
14
.
a
a
Principal
Amount
a
Value
a
a
a
a
a
Municipal
Bonds
(continued)
U.S.
Territories
(continued)
Puerto
Rico
2.0%
HTA
TRRB
Custodial
Trust
,
Revenue
,
2007
N
,
5.25
%
,
7/01/34
.....................................
$
119,118
$
119,496
Revenue
,
2007
N
,
5.25
%
,
7/01/36
.....................................
164,300
164,969
Puerto
Rico
Electric
Power
Authority
,
Revenue
,
VV
,
Refunding
,
NATL
Insured
,
5.25
%
,
7/01/32
.........................................................
1,050,000
1,049,369
Puerto
Rico
Sales
Tax
Financing
Corp.
,
Sales
Tax
,
Revenue
,
A-1
,
4.75
%
,
7/01/53
................................
22,313,000
22,334,108
Sales
Tax
,
Revenue
,
A-1
,
5
%
,
7/01/58
..................................
26,245,000
26,363,468
Sales
Tax
,
Revenue
,
A-1
,
Zero
Cpn.,
7/01/51
.............................
20,000,000
4,967,594
54,999,004
Total
U.S.
Territories
....................................................................
66,407,289
Total
Municipal
Bonds
(Cost
$
2,734,809,585
)
...................................
2,731,168,417
Total
Long
Term
Investments
(Cost
$
2,741,509,585
)
.............................
2,738,052,561
a
a
a
a
a
Short
Term
Investments
0.4%
Municipal
Bonds
0.4%
New
York
0.4%
d
City
of
New
York
,
GO
,
2020
B-3
,
Daily
VRDN
and
Put
,
3.6
%
,
10/01/46
...........
5,400,000
5,400,000
d
Metropolitan
Transportation
Authority
,
Dedicated
Tax
Fund
,
Revenue
,
2008
A-1
,
Refunding
,
LOC
TD
Bank
NA
,
Daily
VRDN
and
Put
,
3.15
%
,
11/01/31
...........
1,100,000
1,100,000
d
New
York
City
Municipal
Water
Finance
Authority
,
Water
&
Sewer
System
,
Revenue
,
2017
BB-1B
,
SPA
State
Street
Bank
&
Trust
Co.
,
Daily
VRDN
and
Put
,
3.3
%
,
6/15/49
..................................
3,300,000
3,300,000
Water
&
Sewer
System
,
Revenue
,
2022
DD
,
Refunding
,
Daily
VRDN
and
Put
,
3.6
%
,
6/15/33
........................................................
2,400,000
2,400,000
12,200,000
Total
Municipal
Bonds
(Cost
$
12,200,000
)
......................................
12,200,000
Total
Short
Term
Investments
(Cost
$
12,200,000
)
................................
12,200,000
a
Total
Investments
(Cost
$
2,753,709,585
)
98.9
%
..................................
$2,750,252,561
Other
Assets,
less
Liabilities
1.1
%
.............................................
28,200,862
Net
Assets
100.0%
...........................................................
$2,778,453,423
a
Fair
valued
using
significant
unobservable
inputs.
See
Note
3
regarding
fair
value
measurements.
b
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
November
30,
2024,
the
aggregate
value
of
these
securities
was
$114,892,115,
representing
4.1%
of
net
assets.
c
The
maturity
date
shown
represents
the
mandatory
put
date.
d
Variable
rate
demand
notes
(VRDNs)
are
obligations
which
contain
a
floating
or
variable
interest
rate
adjustment
formula
and
an
unconditional
right
of
demand
to
receive
payment
of
the
principal
balance
plus
accrued
interest
at
specified
dates.
Unless
otherwise
noted,
the
coupon
rate
is
determined
based
on
factors
including
supply
and
demand,
underlying
credit,
tax
treatment,
and
current
short
term
rates.
The
coupon
rate
shown
represents
the
rate
at
period
end.
Franklin
New
York
Tax-Free
Income
Fund
13
Quarterly
Schedule
of
Investments
Notes
to
Schedule
of
Investments
(unaudited)
1.
Organization
Franklin
New
York
Tax-Free
Income
Fund (Fund)
is
registered under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company.
The
Fund
follows
the
accounting
and
reporting
guidance
in
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
–
Investment
Companies
(ASC
946)
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP),
including,
but
not
limited
to,
ASC
946.
2. Financial
Instrument
Valuation
The
Fund's investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Fund
calculates the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the Fund's
Board
of
Trustees
(the
Board),
the
Board
has
designated
the
Fund's
investment
manager
as
the
valuation
designee
and
has
responsibility
for
oversight
of
valuation.
The
investment
manager
is
assisted
by
the
Fund's administrator
in
performing
this responsibility,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Fund
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value.
Debt
securities
generally
trade
in
the
over-the-counter
(OTC) market
rather
than
on
a
securities
exchange.
The Fund's
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value.
The
Fund
has procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Fund
primarily employs
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed. 
3. Fair
Value
Measurements
The Fund
follows a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's
financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
Level
3
–
significant
unobservable
inputs
(including
the
Fund's
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
Franklin
New
York
Tax-Free
Income
Fund
Notes
to
Schedule
of
Investments
(unaudited)
14
Quarterly
Schedule
of
Investments
A
summary
of
inputs
used
as
of
November
30,
2024,
in
valuing
the Fund's
assets
carried
at
fair
value,
is
as
follows:  
A
reconciliation
in
which
Level
3
inputs
are
used
in
determining
fair
value
is
presented
when
there
are
significant
Level
3
assets
and/or
liabilities
at
the
beginning
and/or
end
of
the
period.
Abbreviations
Level
1
Level
2
Level
3
Total
Franklin
New
York
Tax-Free
Income
Fund
Assets:
Investments
in
Securities:
Corporate
Bonds
........................
$
—
$
—
$
6,884,144
$
6,884,144
Municipal
Bonds
.........................
—
2,731,168,417
—
2,731,168,417
Short
Term
Investments
...................
—
12,200,000
—
12,200,000
Total
Investments
in
Securities
...........
$—
$2,743,368,417
$6,884,144
$2,750,252,561
Selected
Portfolio
AGMC
Assured
Guaranty
Municipal
Corp.
AMBAC
American
Municipal
Bond
Assurance
Corp.
BAM
Build
America
Mutual
Assurance
Co.
FNMA
Federal
National
Mortgage
Association
GO
General
Obligation
LOC
Letter
of
Credit
NATL
National
Reinsurance
Corp.
SPA
Standby
Purchase
Agreement
3. Fair
Value
Measurements
(continued)
For
additional
information
on
the
Fund's
significant
accounting
policies,
please
refer
to
the Fund's
most
recent
semiannual
or
annual
shareholder
report.