N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811- 3723

Fidelity New York Municipal Trust
 (Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
 (Address of principal executive offices) (Zip code)

Eric D. Roiter, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

January 31

Date of reporting period:

October 31, 2004

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Spartan ® New York Municipal
Income Fund

October 31, 2004

NFY-QTLY-1204

1.809090.100

Investments October 31, 2004 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 98.4%

Principal Amount (000s)

Value
(000s)

New York - 92.6%

Albany Indl. Dev. Agcy. Civic Facility Rev. (College of Saint Rose Proj.) Series A:

5% 7/1/10 (AMBAC Insured)

$ 600

$ 667

5% 7/1/11 (AMBAC Insured)

500

559

5.5% 7/1/21 (AMBAC Insured)

2,300

2,570

Battery Park City Auth. Rev. Series A:

5.25% 11/1/16

2,000

2,251

5.25% 11/1/17

1,400

1,566

Cherry Valley Springfield Central School District:

7.8% 5/1/14 (Escrowed to Maturity) (d)

435

591

7.8% 5/1/15 (Escrowed to Maturity) (d)

435

600

7.8% 5/1/16 (Escrowed to Maturity) (d)

435

609

7.8% 5/1/17 (MBIA Insured)

435

615

7.8% 5/1/18 (Escrowed to Maturity) (d)

434

617

Dutchess County Indl. Dev. Agcy. Civic Facility Rev.:

(Bard College Civic Facility Proj.):

5.5% 8/1/20

4,190

4,558

5.75% 8/1/30

9,445

10,117

(Vassar College Proj.) 5.35% 9/1/40

7,000

7,409

Erie County Gen. Oblig. Series A:

5% 9/1/15 (FGIC Insured)

2,625

2,884

5% 9/1/16 (FGIC Insured)

1,680

1,836

5% 9/1/17 (FGIC Insured)

1,000

1,086

Erie County Indl. Dev. Agcy. School Facility Rev. (Buffalo City School District Proj.):

5.75% 5/1/17 (FSA Insured)

8,940

10,270

5.75% 5/1/19 (FSA Insured)

1,500

1,717

5.75% 5/1/20 (FSA Insured)

1,400

1,600

5.75% 5/1/22 (FSA Insured)

4,900

5,581

5.75% 5/1/23 (FSA Insured)

1,000

1,137

Geneva Indl. Dev. Auth. Civic Facilities Rev. (Hobart & William Smith Proj.) Series A, 5.375% 2/1/23 (FGIC Insured)

3,485

3,806

Grand Central District Mgmt. Assoc., Inc. 5% 1/1/14

1,000

1,105

Hempstead Town Indl. Dev. Agcy. (American Ref-Fuel Co. Proj.) 5% 12/1/10

7,000

7,573

Long Island Pwr. Auth. Elec. Sys. Rev. Series A, 5.75% 12/1/24

25,000

26,913

Metropolitan Trans. Auth. Commuter Facilities Rev. Series 1997 D, 5.125% 7/1/22 (Pre-Refunded to 1/1/12
@ 100) (d)

1,100

1,247

Metropolitan Trans. Auth. Dedicated Tax Fund Series A, 5.5% 11/15/26 (FSA Insured)

10,300

11,236

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Metropolitan Trans. Auth. Rev.:

Series 2002 A:

5% 11/15/30 (FSA Insured)

$ 95,505

$ 98,376

5.5% 11/15/15 (AMBAC Insured)

1,340

1,530

5.5% 11/15/16 (AMBAC Insured)

1,000

1,138

5.5% 11/15/17 (AMBAC Insured)

1,000

1,140

5.5% 11/15/18 (AMBAC Insured)

1,700

1,930

5.75% 11/15/32

10,000

10,971

Series A, 5.125% 11/15/31

12,150

12,493

Series B, 5.25% 11/15/18 (FGIC Insured)

4,000

4,441

Series E, 5.5% 11/15/21 (MBIA Insured)

2,200

2,474

Metropolitan Trans. Auth. Svc. Contract Rev.:

(Trans. Facilities Proj.) Series 3, 7.375% 7/1/08 (Escrowed to Maturity) (d)

1,310

1,453

Series 2002 A, 5.75% 7/1/31 (AMBAC Insured)

3,025

3,397

Series 7:

0% 7/1/10 (Escrowed to Maturity) (d)

3,500

2,934

5.625% 7/1/16 (Escrowed to Maturity) (d)

3,000

3,046

Series A:

5.5% 1/1/20 (MBIA Insured)

8,000

9,017

5.5% 7/1/20 (MBIA Insured)

3,000

3,381

Series B:

5.5% 7/1/19 (MBIA Insured)

3,000

3,390

5.5% 7/1/23 (MBIA Insured)

5,000

5,543

Series O, 5.75% 7/1/13 (Escrowed to Maturity) (d)

3,000

3,451

Metropolitan Trans. Auth. Transit Facilities Rev.:

Series C:

4.75% 7/1/16 (Pre-Refunded to 1/1/12 @ 100) (d)

1,255

1,392

5.125% 7/1/13 (Pre-Refunded to 1/1/12
@ 100) (d)

765

867

Series N, 0% 7/1/11 (Escrowed to Maturity) (d)

5,980

4,790

Monroe County Gen. Oblig.:

6% 6/1/05

770

787

6.5% 6/1/05

115

118

6.5% 6/1/06

120

128

6.5% 6/1/07 (AMBAC Insured)

50

55

Monroe County Indl. Dev. Agcy. Civic Facility Rev. (Nazareth College Rochester Proj.) 5.25% 10/1/21 (MBIA Insured)

1,000

1,089

Muni. Assistance Corp. for New York City:

Series 1996 G, 6% 7/1/07

2,305

2,540

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Muni. Assistance Corp. for New York City: - continued

Series 1997 H, 6.25% 7/1/07

$ 1,195

$ 1,324

Series 1997 L, 6% 7/1/07

5,275

5,812

Series 1998 M, 5.5% 7/1/07

6,500

7,078

Series 1999 O, 5.25% 7/1/07

2,120

2,295

Series 2002 P, 5% 7/1/08

10,850

11,865

Nassau County Gen. Oblig.:

Series T, 5.2% 9/1/11 (FGIC Insured)

2,695

2,886

Series U, 5.25% 11/1/15 (AMBAC Insured)

2,150

2,318

Series Z:

5% 9/1/11 (FGIC Insured)

3,000

3,275

5% 9/1/13 (FGIC Insured)

3,000

3,253

Nassau County Indl. Dev. Agcy. Civic Facility Rev. (North Shore Health Sys. Proj.):

Series 2001 A, 5.875% 11/1/11

185

206

Series 2001 B, 5.875% 11/1/11

1,270

1,413

Series 2001 C, 5.625% 11/1/10

825

906

Series 2001 D, 5.625% 11/1/10

1,225

1,345

Nassau County Interim Fin. Auth.:

Series 2000 A, 5.75% 11/15/11 (MBIA Insured)

10,845

12,427

Series A, 5% 11/15/18 (AMBAC Insured)

2,375

2,583

New York City Gen. Oblig.:

Series 1996 F:

5.75% 2/1/15

495

523

6% 8/1/16 (Pre-Refunded to 8/1/06 @ 101.5) (d)

2,310

2,504

Series 2000 A, 6.5% 5/15/11

3,000

3,516

Series 2003 A, 5.5% 8/1/20 (MBIA Insured)

7,000

7,919

Series 2003 C, 5.25% 8/1/10

5,000

5,564

Series 2003 E:

5.25% 8/1/10

2,000

2,225

5.25% 8/1/11

6,245

6,960

5.25% 8/1/14

3,390

3,780

Series 2003 F, 5.5% 12/15/10

1,000

1,127

Series A:

5.25% 11/1/14 (MBIA Insured)

1,350

1,506

6.25% 8/1/08

1,000

1,080

Series B:

5.875% 8/15/13

1,970

2,118

6.2% 8/15/06

1,740

1,814

6.2% 8/15/06 (Pre-Refunded to 8/15/05
@ 101) (d)

115

120

6.5% 8/15/11

1,000

1,187

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series B:

7.5% 2/1/07

$ 335

$ 336

Series C:

5.75% 3/15/27 (FSA Insured)

3,530

3,947

6% 2/1/22

840

903

Series D:

5.25% 8/1/13

2,500

2,696

5.25% 8/1/21 (MBIA Insured)

5,000

5,416

5.375% 8/1/17

2,500

2,701

Series E:

6% 8/1/11

140

151

6% 8/1/26

1,230

1,309

6.5% 2/15/06

315

332

Series F, 6% 8/1/16

1,800

1,937

Series G:

5.25% 8/1/14 (AMBAC Insured)

1,635

1,807

6% 10/15/26

3,630

3,950

Series H:

5.5% 8/1/12

9,000

9,851

5.75% 3/15/11 (FGIC Insured)

3,000

3,435

5.75% 3/15/13 (FSA Insured)

1,805

2,085

6% 8/1/17

1,000

1,094

Series I, 6.125% 4/15/11

8,495

9,287

Series J:

5.5% 6/1/18 (MBIA Insured)

5,000

5,693

5.875% 2/15/19

845

894

6.125% 8/1/12

340

375

Series L, 5.75% 8/1/12

3,700

4,030

New York City Health & Hosp. Corp. Rev. Series A:

5.5% 2/15/16 (FSA Insured)

2,605

2,927

5.5% 2/15/17 (FSA Insured)

3,000

3,365

5.5% 2/15/18 (FSA Insured)

2,500

2,794

5.5% 2/15/19 (FSA Insured)

1,250

1,401

New York City Indl. Dev. Agcy. Civic Facility Rev.:

(New York Univ. Proj.) Series 2001, 5.375% 7/1/15 (AMBAC Insured)

1,090

1,213

(Spence School, Inc. Proj.) 5% 7/1/27

3,255

3,349

New York City Indl. Dev. Agcy. Indl. Dev. Rev. (Japan Airlines Co. Ltd. Proj.) Series 1991, 6% 11/1/15
(FSA Insured) (c)

2,345

2,427

New York City Indl. Dev. Agcy. Spl. Facilities Rev. (Term. One Group Assoc. Proj.) 6% 1/1/08 (c)

500

509

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.:

Series 1996 B:

5.75% 6/15/26 (MBIA Insured)

$ 645

$ 689

5.875% 6/15/26

18,085

19,363

Series 1997 A, 5.375% 6/15/26 (FSA Insured)

13,450

14,258

Series 1997 B, 5.25% 6/15/29 (FGIC Insured)

3,785

3,890

Series 1999 A, 5.75% 6/15/30

1,000

1,097

Series 2000, 5.5% 6/15/33

14,215

15,307

Series 2001 C, 5.125% 6/15/33

3,960

4,092

Series A:

5% 6/15/32

5,000

5,098

5.125% 6/15/34 (MBIA Insured)

4,200

4,359

5.25% 6/15/33 (FGIC Insured)

1,280

1,336

5.375% 6/15/15 (FGIC Insured)

7,000

7,862

6% 6/15/28

15,000

17,167

Series B:

5.375% 6/15/07 (Escrowed to Maturity) (d)

145

147

5.75% 6/15/26 (MBIA Insured)

5,025

5,502

5.75% 6/15/29 (MBIA Insured)

5,965

6,531

Series G, 5.125% 6/15/32 (FGIC Insured)

4,750

4,926

5.5% 6/15/33 (MBIA Insured)

2,075

2,242

New York City Trust Cultural Resources Rev.:

(American Museum of Natural History Proj.) Series A, 5.65% 4/1/22 (MBIA Insured)

4,850

5,264

(Museum of Modern Art Proj.) Series 2001 D, 5.125% 7/1/31 (AMBAC Insured)

3,200

3,326

(New York Botanical Garden Proj.) 5.75% 7/1/16 (MBIA Insured)

1,250

1,335

New York State Dorm. Auth. Lease Rev. Series 2003 B, 5.25%, tender 7/1/13 (XL Cap. Assurance, Inc. Insured) (b)

10,000

11,190

New York State Dorm. Auth. Revs.:

(Barnard College Proj.) 5.25% 7/1/26 (AMBAC Insured)

4,625

4,897

(Champlain Valley Physicians Proj.):

6% 7/1/09 (AMBAC Insured)

370

424

6% 7/1/10 (AMBAC Insured)

250

289

(City Univ. Sys. Consolidation Proj.):

Series 2000 A, 6.125% 7/1/12 (AMBAC Insured)

4,300

5,011

Series C, 7.5% 7/1/10

4,000

4,586

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Dorm. Auth. Revs.: - continued

(Colgate Univ. Proj.):

6% 7/1/16 (MBIA Insured)

$ 1,900

$ 2,321

6% 7/1/21 (MBIA Insured)

2,500

3,090

(Columbia Univ. Proj.):

Series 2001 A:

5.25% 7/1/13

1,000

1,127

5.25% 7/1/15

2,000

2,241

Series B, 5.375% 7/1/18

1,000

1,128

(Ithaca College Proj.) 5.25% 7/1/26 (AMBAC Insured)

9,805

10,186

(Jewish Med. Ctr. Proj.) 5% 7/1/18 (MBIA Insured)

8,000

8,397

(Long Island Jewish Med. Ctr. Proj.):

5% 7/1/08 (MBIA Insured)

2,000

2,185

5.25% 7/1/11 (MBIA Insured)

3,000

3,290

(Manhattanville College Proj.) 0% 7/1/10 (MBIA Insured)

2,175

1,807

(Mental Health Svcs. Facilities Impt. Proj.):

Series A:

5.75% 8/15/11

2,990

3,264

5.75% 8/15/11 (Pre-Refunded to 2/15/07
@ 102) (d)

10

11

Series B:

5.75% 2/15/11

2,535

2,767

5.75% 2/15/11 (Pre-Refunded to 2/15/07
@ 102) (d)

15

17

(Montefiore Med. Ctr. Proj.) Series 2000:

5.8% 8/1/30

3,000

3,278

5.85% 8/1/40

9,500

10,396

(New York & Presbyterian Hosp. Proj.) 4.4% 8/1/13 (AMBAC Insured)

850

871

(New York Hosp. Med. Ctr. Proj.) 5.25% 2/1/07 (AMBAC Insured)

4,350

4,656

(New York Univ. Proj.):

Series 2:

5.5% 7/1/17 (AMBAC Insured)

755

852

5.5% 7/1/19 (AMBAC Insured)

1,705

1,917

5.5% 7/1/20 (AMBAC Insured)

860

966

Series A:

5.75% 7/1/15 (MBIA Insured)

2,295

2,737

5.75% 7/1/27 (MBIA Insured)

11,000

13,155

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Dorm. Auth. Revs.: - continued

(North Shore Univ. Hosp. Proj.) 5.5% 11/1/14 (MBIA Insured)

$ 1,500

$ 1,755

(Rochester Institute of Technology Proj.) 5.25% 7/1/22 (MBIA Insured)

4,875

5,273

(Saint Joseph's Hosp. Health Ctr. Proj.) 6% 7/1/08 (MBIA Insured)

1,260

1,408

(School District Fing. Prog.):

Series 2002 D, 5.5% 10/1/17 (MBIA Insured)

7,925

9,020

Series 2002 E, 5.75% 10/1/22 (MBIA Insured)

1,485

1,698

Series 2002 H, 5.5% 10/1/17 (MBIA Insured)

2,600

2,959

Series 2002 I, 5.75% 10/1/18 (MBIA Insured)

1,500

1,732

(State Univ. Edl. Facilities Proj.):

Series A, 5.25% 5/15/15 (MBIA Insured)

5,000

5,735

Series B, 7.5% 5/15/11

2,365

2,766

5.5% 5/15/09

3,000

3,295

(The Jamaica Hosp. Proj.) Series F:

5.1% 2/15/12 (MBIA Insured)

3,605

3,910

5.2% 2/15/13 (MBIA Insured)

6,585

7,118

(Winthrop-South Nassau Univ. Health Sys. Obig. Group Proj.) Series A:

6% 7/1/14

1,095

1,215

6% 7/1/15

1,160

1,276

6% 7/1/16

1,230

1,347

(Yeshiva Univ. Proj.) Series 2001:

5.375% 7/1/12 (AMBAC Insured)

1,000

1,131

5.375% 7/1/13 (AMBAC Insured)

800

902

5.375% 7/1/14 (AMBAC Insured)

1,130

1,274

5.375% 7/1/16 (AMBAC Insured)

670

744

5.375% 7/1/17 (AMBAC Insured)

370

408

Series 1990 B, 7.5% 5/15/11 (Pre-Refunded to 5/15/10 @ 100) (d)

1,135

1,376

Series 2002 A, 5.75% 10/1/17 (MBIA Insured)

30,260

35,163

Series 2002 B:

6% 10/1/22 (MBIA Insured)

2,775

3,245

6% 10/1/29 (MBIA Insured)

5,600

6,432

Series 2003 A, 5.375% 3/15/22

2,000

2,176

Series B:

5.25%, tender 5/15/12 (b)

8,500

9,437

6%, tender 5/15/12 (b)

11,000

12,754

5.5% 7/1/16 (AMBAC Insured)

725

779

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Energy Research & Dev. Auth. Facilities Rev. (Consolidated Edison Co. Proj.) Series A, 6.1% 8/15/20

$ 10,600

$ 11,046

New York State Envir. Facilities Corp. Clean Wtr. & Drinking Wtr. Rev.:

(New York City Muni. Wtr. Fin. Auth. Proj.):

Series B, 5.25% 6/15/16

500

558

Series C:

5.25% 7/15/16

2,340

2,613

5.25% 7/15/17

2,410

2,669

Series D, 5% 6/15/20

20,150

21,724

Series G, 5.25% 10/15/20

1,255

1,364

(New York Muni. Wtr. Fin. Auth. Proj.) Series D, 5.375% 6/15/19

5,250

5,878

(Pooled Fing. Prog.):

Series F:

5.25% 11/15/15

2,595

2,917

5.25% 11/15/16

3,770

4,213

Series I:

5.25% 9/15/15

2,085

2,339

5.25% 9/15/17

2,395

2,657

Series C:

5% 6/15/19

815

864

5.25% 6/15/16

3,500

3,857

Series F:

4.875% 6/15/18

1,735

1,819

4.875% 6/15/20

2,175

2,268

5% 6/15/15

1,295

1,378

5.25% 6/15/13

1,575

1,716

New York State Envir. Facilities Corp. Rev. Series A:

5.25% 1/1/21 (FGIC Insured)

4,785

5,251

5.375% 1/1/16 (FGIC Insured)

2,170

2,447

New York State Envir. Facilities Corp. Solid Waste Disp. Rev. (Gen. Elec. Cap. Corp. Proj.) Series 1989 A, 4.25%, tender 12/2/11 (b)(c)

10,700

11,145

New York State Envir. Facilities Corp. State Wtr. Poll. Cont. Revolving Fund Rev.:

(New York City Muni. Wtr. Fin. Auth. Proj.):

Series 2002, 5.75% 6/15/11

455

529

Series A, 7% 6/15/12

190

191

Series C, 5.85% 7/15/15

30

32

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Envir. Facilities Corp. State Wtr. Poll. Cont. Revolving Fund Rev.: - continued

(New York City Muni. Wtr. Fin. Auth. Proj.): - continued

Series E:

6.25% 6/15/05

$ 1,200

$ 1,224

6.5% 6/15/14

130

131

(Pooled Ln. Prog.) Series B, 5.2% 5/15/14

1,115

1,275

Series 2002 D:

6.3% 5/15/05

365

374

6.3% 11/15/05

105

107

Series B, 5.2% 5/15/14 (Escrowed to Maturity) (d)

1,105

1,240

New York State Hsg. Fin. Agcy. Personal Income Tax Rev. (Econ. Dev. & Hsg. Proj.) Series A:

5.25% 9/15/15 (MBIA Insured)

1,690

1,895

5.25% 9/15/16 (MBIA Insured)

1,780

1,991

5.25% 3/15/17 (MBIA Insured)

2,240

2,482

5.25% 3/15/18

2,290

2,532

5.25% 3/15/19

2,480

2,727

5.25% 9/15/20

2,685

2,944

5.25% 3/15/21

2,230

2,430

New York State Med. Care Facilities Fin. Agcy. Rev. (Long-Term Health Care Proj.) Series A, 6.8% 11/1/14 (FSA Insured)

1,170

1,173

New York State Mtg. Agcy. Rev. (Homeowner Mtg. Prog.):

Series 53, 5.9% 10/1/17

1,535

1,582

Series 69, 4.7% 4/1/24 (c)

730

733

New York State Pwr. Auth. & Gen. Purp. Rev.:

Series A, 5.25% 11/15/40

25,860

26,870

Series W, 6.5% 1/1/08 (Escrowed to Maturity) (d)

250

269

New York State Thruway Auth. Gen. Rev.:

Series D, 5.375% 1/1/27

3,000

3,133

Series E, 5.25% 1/1/12

5,410

5,892

New York State Thruway Auth. Hwy. & Bridge Trust Fund:

Series A, 5.25% 4/1/16 (AMBAC Insured)

5,175

5,500

Series B:

5.25% 4/1/15 (MBIA Insured)

5,000

5,527

5.375% 4/1/17 (AMBAC Insured)

5,000

5,542

5.375% 4/1/18 (AMBAC Insured)

5,310

5,882

Series B1:

5.75% 4/1/14 (FGIC Insured)

3,000

3,416

5.75% 4/1/15 (FGIC Insured)

4,000

4,551

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Thruway Auth. State Personal Income Tax Rev. Series A:

5.5% 3/15/18

$ 5,000

$ 5,624

5.5% 3/15/19

5,460

6,130

5.5% 3/15/20

3,500

3,908

New York State Thruway Auth. Svc. Contract Rev.:

5.25% 4/1/14 (Pre-Refunded to 4/1/11 @ 100) (d)

735

835

5.5% 4/1/14

11,700

13,168

5.5% 4/1/15

6,200

6,935

5.5% 4/1/16

3,665

4,092

6% 4/1/11

1,605

1,766

New York State Urban Dev. Corp. Rev.:

(Correctional Cap. Facilities Proj.) Series A, 6.5% 1/1/09 (FSA Insured)

3,000

3,469

(Sports Facilities Assistance Prog.) Series A, 6.25% 4/1/06 (MBIA Insured)

15

16

(State Facilities & Equip. Proj.) Series 2002 A, 5.5% 3/15/32

2,500

2,646

Series B, 5.25% 3/15/15 (MBIA Insured)

1,800

2,024

Series C1, 5.5% 3/15/19 (FGIC Insured)

3,000

3,405

New York Thruway Auth. Second Gen. Hwy. & Bridge Trust Fund Series A:

5.25% 4/1/22 (MBIA Insured)

3,000

3,271

5.25% 4/1/23 (MBIA Insured)

3,050

3,316

New York Transitional Fin. Auth. Rev.:

Series 2000 C, 5.5% 11/1/20

5,650

6,283

Series 2003 D:

5.25% 2/1/17 (MBIA Insured)

9,385

10,419

5.25% 2/1/19 (MBIA Insured)

8,075

8,947

Series 2003 E, 5.25% 2/1/15 (FGIC Insured)

7,250

8,087

Series 2004 A, 5.125% 8/15/21 (FGIC Insured)

5,345

5,598

Series 2004 C:

5.25% 2/1/14

6,000

6,826

5.5% 2/1/08 (Escrowed to Maturity) (d)

310

342

Series A:

5.25% 11/15/12 (FSA Insured)

1,500

1,653

5.375% 11/15/21

2,900

3,210

5.5% 11/15/17 (FGIC Insured)

6,725

7,667

5.5% 11/15/20 (FGIC Insured)

9,000

10,179

5.75% 2/15/16

3,000

3,394

Series B:

5.125% 11/1/14

1,000

1,084

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York Transitional Fin. Auth. Rev.: - continued

Series B:

5.375% 2/1/15

$ 3,000

$ 3,368

Series C:

5.375% 2/1/17

1,000

1,108

5.5% 11/1/24

1,000

1,094

Series D, 5.25% 2/1/20 (MBIA Insured)

5,000

5,506

Niagara County Indl. Dev. Agcy. Solid Waste Disp. Rev. Series 2001 C, 5.625%, tender 11/15/14 (b)(c)

3,000

3,216

Niagara Falls City Niagara County Pub. Impt.:

7.5% 3/1/08 (MBIA Insured)

995

1,156

7.5% 3/1/10 (MBIA Insured)

1,155

1,410

7.5% 3/1/11 (MBIA Insured)

1,245

1,557

7.5% 3/1/16 (MBIA Insured)

1,060

1,439

7.5% 3/1/17 (MBIA Insured)

1,200

1,654

Sales Tax Asset Receivables Corp. Series A, 5.25% 10/15/27 (AMBAC Insured) (a)

4,000

4,303

Saratoga County Indl. Dev. Agcy. (The Saratoga Hosp. Proj.) Series A, 5% 12/1/10

1,095

1,172

Schenectady Indl. Dev. Agcy. Civic Facility Rev. (Union College Proj.) Series A, 5.625% 7/1/31 (AMBAC Insured)

2,000

2,199

Suffolk County Indl. Dev. Agcy. Civic Facility Rev. (Huntington Hosp. Proj.) Series B, 6% 11/1/22

4,305

4,517

Taconic Hills Central School District at Craryville 5% 6/15/16 (FGIC Insured)

1,130

1,232

Tobacco Settlement Fing. Corp.:

Series A1:

5.25% 6/1/21 (AMBAC Insured)

3,250

3,519

5.25% 6/1/22 (AMBAC Insured)

5,300

5,706

5.5% 6/1/16

14,500

15,847

Series B1:

5% 6/1/10

1,685

1,826

5% 6/1/11

1,375

1,502

Series C1:

5% 6/1/11

4,780

4,986

5.5% 6/1/20

3,000

3,304

Triborough Bridge & Tunnel Auth. (Convention Ctr. Proj.) Series E:

6% 1/1/11 (XL Cap. Assurance, Inc. Insured)

4,000

4,663

7.25% 1/1/10 (XL Cap. Assurance, Inc. Insured)

8,705

9,812

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Triborough Bridge & Tunnel Auth. Revs.:

Series A:

5.25% 1/1/28 (Pre-Refunded to 7/1/22 @ 100) (d)

$ 9,500

$ 10,824

6% 1/1/11 (Escrowed to Maturity) (d)

500

587

Series B:

5.2% 1/1/27 (Pre-Refunded to 1/1/22 @ 100) (d)

2,000

2,266

5.2% 1/1/27 (Pre-Refunded to 1/1/22 @ 100) (d)

2,000

2,266

5.5% 1/1/30 (Pre-Refunded to 1/1/22 @ 100) (d)

2,015

2,296

Series Q, 6.75% 1/1/09 (Escrowed to Maturity) (d)

1,000

1,122

Series Y:

5.5% 1/1/17 (Escrowed to Maturity) (d)

15,425

17,970

6% 1/1/12 (Escrowed to Maturity) (d)

20,000

23,119

Triborough Bridge & Tunnel Auth. Spl. Oblig. Series A, 5.125% 1/1/12 (Escrowed to Maturity) (d)

1,000

1,104

Upper Mohawk Valley Reg'l. Wtr. Fin. Auth. Wtr. Sys. Rev. Series A, 5.125% 10/1/26 (FSA Insured)

5,000

5,142

Yonkers Gen. Oblig. Series 2001 A:

5% 12/15/11 (AMBAC Insured)

1,415

1,578

5% 12/15/12 (AMBAC Insured)

1,245

1,392

1,301,862

New York & New Jersey - 4.9%

Port Auth. of New York & New Jersey:

120th Series:

5.75% 10/15/11 (MBIA Insured) (c)

15,000

16,445

5.75% 10/15/12 (MBIA Insured) (c)

15,530

17,026

124th Series:

5% 8/1/08 (c)

4,875

5,268

5% 8/1/13 (FGIC Insured) (c)

3,000

3,179

126th Series, 5.25% 5/15/37 (FGIC Insured) (c)

5,970

6,207

128th Series, 5% 11/1/19 (FSA Insured)

7,200

7,861

134th Series, 5% 1/15/39

10,000

10,307

Port Auth. of New York & New Jersey Spl. Oblig. Rev. (JFK Int'l. Air Term. Spl. Proj.) Series 6, 5.75% 12/1/25 (MBIA Insured) (c)

2,000

2,113

68,406

Puerto Rico - 0.9%

Puerto Rico Commonwealth Gen. Oblig. Series 2001 A, 5.5% 7/1/17 (XL Cap. Assurance, Inc. Insured)

3,800

4,465

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

Puerto Rico - continued

Puerto Rico Commonwealth Hwy. & Trans. Auth. Trans. Rev. Series 1998, 5.75% 7/1/22 (CIFG North America Insured)

$ 3,000

$ 3,458

Puerto Rico Commonwealth Infrastructure Fing. Auth. Series 2000 A, 5.5% 10/1/32 (Escrowed to Maturity) (d)

2,300

2,525

Puerto Rico Elec. Pwr. Auth. Pwr. Rev. Series QQ:

5.25% 7/1/13 (XL Cap. Assurance, Inc. Insured) (a)

1,500

1,670

5.5% 7/1/16 (XL Cap. Assurance, Inc. Insured) (a)

1,000

1,144

13,262

TOTAL INVESTMENT PORTFOLIO - 98.4%

(Cost $1,313,015)

1,383,530

NET OTHER ASSETS - 1.6%

21,962

NET ASSETS - 100%

$ 1,405,492

Swap Agreements

Expiration Date

Notional Amount (000s)

Value
(000s)

Interest Rate Swap

Receive quarterly a fixed rate equal to 4.165% and pay quarterly a floating rate based on BMA Municipal Swap Index with JPMorgan Chase, Inc.

March 2025

$ 6,000

$ 64

Receive quarterly a fixed rate equal to 4.522% and pay quarterly a floating rate based on BMA Municipal Swap Index with JPMorgan Chase, Inc.

Nov. 2024

7,500

490

$ 13,500

$ 554

Legend

(a) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(b) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

(c) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

(d) Security collateralized by an amount sufficient to pay interest and principal.

Income Tax Information

At October 31, 2004, the aggregate cost of investment securities for income tax purposes was $1,312,803,000. Net unrealized appreciation aggregated $70,727,000, of which $71,300,000 related to appreciated investment securities and $573,000 related to depreciated investment securities.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR Corp.

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor New York
Municipal Income Fund
Class A
Class T
Class B
Class C
Institutional Class

October 31, 2004

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Spartan® New York Municipal
Income Fund

ASNM-QTLY-1204

1.809540.100

Investments October 31, 2004 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 98.4%

Principal Amount (000s)

Value
(000s)

New York - 92.6%

Albany Indl. Dev. Agcy. Civic Facility Rev. (College of Saint Rose Proj.) Series A:

5% 7/1/10 (AMBAC Insured)

$ 600

$ 667

5% 7/1/11 (AMBAC Insured)

500

559

5.5% 7/1/21 (AMBAC Insured)

2,300

2,570

Battery Park City Auth. Rev. Series A:

5.25% 11/1/16

2,000

2,251

5.25% 11/1/17

1,400

1,566

Cherry Valley Springfield Central School District:

7.8% 5/1/14 (Escrowed to Maturity) (d)

435

591

7.8% 5/1/15 (Escrowed to Maturity) (d)

435

600

7.8% 5/1/16 (Escrowed to Maturity) (d)

435

609

7.8% 5/1/17 (MBIA Insured)

435

615

7.8% 5/1/18 (Escrowed to Maturity) (d)

434

617

Dutchess County Indl. Dev. Agcy. Civic Facility Rev.:

(Bard College Civic Facility Proj.):

5.5% 8/1/20

4,190

4,558

5.75% 8/1/30

9,445

10,117

(Vassar College Proj.) 5.35% 9/1/40

7,000

7,409

Erie County Gen. Oblig. Series A:

5% 9/1/15 (FGIC Insured)

2,625

2,884

5% 9/1/16 (FGIC Insured)

1,680

1,836

5% 9/1/17 (FGIC Insured)

1,000

1,086

Erie County Indl. Dev. Agcy. School Facility Rev. (Buffalo City School District Proj.):

5.75% 5/1/17 (FSA Insured)

8,940

10,270

5.75% 5/1/19 (FSA Insured)

1,500

1,717

5.75% 5/1/20 (FSA Insured)

1,400

1,600

5.75% 5/1/22 (FSA Insured)

4,900

5,581

5.75% 5/1/23 (FSA Insured)

1,000

1,137

Geneva Indl. Dev. Auth. Civic Facilities Rev. (Hobart & William Smith Proj.) Series A, 5.375% 2/1/23 (FGIC Insured)

3,485

3,806

Grand Central District Mgmt. Assoc., Inc. 5% 1/1/14

1,000

1,105

Hempstead Town Indl. Dev. Agcy. (American Ref-Fuel Co. Proj.) 5% 12/1/10

7,000

7,573

Long Island Pwr. Auth. Elec. Sys. Rev. Series A, 5.75% 12/1/24

25,000

26,913

Metropolitan Trans. Auth. Commuter Facilities Rev. Series 1997 D, 5.125% 7/1/22 (Pre-Refunded to 1/1/12
@ 100) (d)

1,100

1,247

Metropolitan Trans. Auth. Dedicated Tax Fund Series A, 5.5% 11/15/26 (FSA Insured)

10,300

11,236

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Metropolitan Trans. Auth. Rev.:

Series 2002 A:

5% 11/15/30 (FSA Insured)

$ 95,505

$ 98,376

5.5% 11/15/15 (AMBAC Insured)

1,340

1,530

5.5% 11/15/16 (AMBAC Insured)

1,000

1,138

5.5% 11/15/17 (AMBAC Insured)

1,000

1,140

5.5% 11/15/18 (AMBAC Insured)

1,700

1,930

5.75% 11/15/32

10,000

10,971

Series A, 5.125% 11/15/31

12,150

12,493

Series B, 5.25% 11/15/18 (FGIC Insured)

4,000

4,441

Series E, 5.5% 11/15/21 (MBIA Insured)

2,200

2,474

Metropolitan Trans. Auth. Svc. Contract Rev.:

(Trans. Facilities Proj.) Series 3, 7.375% 7/1/08 (Escrowed to Maturity) (d)

1,310

1,453

Series 2002 A, 5.75% 7/1/31 (AMBAC Insured)

3,025

3,397

Series 7:

0% 7/1/10 (Escrowed to Maturity) (d)

3,500

2,934

5.625% 7/1/16 (Escrowed to Maturity) (d)

3,000

3,046

Series A:

5.5% 1/1/20 (MBIA Insured)

8,000

9,017

5.5% 7/1/20 (MBIA Insured)

3,000

3,381

Series B:

5.5% 7/1/19 (MBIA Insured)

3,000

3,390

5.5% 7/1/23 (MBIA Insured)

5,000

5,543

Series O, 5.75% 7/1/13 (Escrowed to Maturity) (d)

3,000

3,451

Metropolitan Trans. Auth. Transit Facilities Rev.:

Series C:

4.75% 7/1/16 (Pre-Refunded to 1/1/12 @ 100) (d)

1,255

1,392

5.125% 7/1/13 (Pre-Refunded to 1/1/12
@ 100) (d)

765

867

Series N, 0% 7/1/11 (Escrowed to Maturity) (d)

5,980

4,790

Monroe County Gen. Oblig.:

6% 6/1/05

770

787

6.5% 6/1/05

115

118

6.5% 6/1/06

120

128

6.5% 6/1/07 (AMBAC Insured)

50

55

Monroe County Indl. Dev. Agcy. Civic Facility Rev. (Nazareth College Rochester Proj.) 5.25% 10/1/21 (MBIA Insured)

1,000

1,089

Muni. Assistance Corp. for New York City:

Series 1996 G, 6% 7/1/07

2,305

2,540

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Muni. Assistance Corp. for New York City: - continued

Series 1997 H, 6.25% 7/1/07

$ 1,195

$ 1,324

Series 1997 L, 6% 7/1/07

5,275

5,812

Series 1998 M, 5.5% 7/1/07

6,500

7,078

Series 1999 O, 5.25% 7/1/07

2,120

2,295

Series 2002 P, 5% 7/1/08

10,850

11,865

Nassau County Gen. Oblig.:

Series T, 5.2% 9/1/11 (FGIC Insured)

2,695

2,886

Series U, 5.25% 11/1/15 (AMBAC Insured)

2,150

2,318

Series Z:

5% 9/1/11 (FGIC Insured)

3,000

3,275

5% 9/1/13 (FGIC Insured)

3,000

3,253

Nassau County Indl. Dev. Agcy. Civic Facility Rev. (North Shore Health Sys. Proj.):

Series 2001 A, 5.875% 11/1/11

185

206

Series 2001 B, 5.875% 11/1/11

1,270

1,413

Series 2001 C, 5.625% 11/1/10

825

906

Series 2001 D, 5.625% 11/1/10

1,225

1,345

Nassau County Interim Fin. Auth.:

Series 2000 A, 5.75% 11/15/11 (MBIA Insured)

10,845

12,427

Series A, 5% 11/15/18 (AMBAC Insured)

2,375

2,583

New York City Gen. Oblig.:

Series 1996 F:

5.75% 2/1/15

495

523

6% 8/1/16 (Pre-Refunded to 8/1/06 @ 101.5) (d)

2,310

2,504

Series 2000 A, 6.5% 5/15/11

3,000

3,516

Series 2003 A, 5.5% 8/1/20 (MBIA Insured)

7,000

7,919

Series 2003 C, 5.25% 8/1/10

5,000

5,564

Series 2003 E:

5.25% 8/1/10

2,000

2,225

5.25% 8/1/11

6,245

6,960

5.25% 8/1/14

3,390

3,780

Series 2003 F, 5.5% 12/15/10

1,000

1,127

Series A:

5.25% 11/1/14 (MBIA Insured)

1,350

1,506

6.25% 8/1/08

1,000

1,080

Series B:

5.875% 8/15/13

1,970

2,118

6.2% 8/15/06

1,740

1,814

6.2% 8/15/06 (Pre-Refunded to 8/15/05
@ 101) (d)

115

120

6.5% 8/15/11

1,000

1,187

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series B:

7.5% 2/1/07

$ 335

$ 336

Series C:

5.75% 3/15/27 (FSA Insured)

3,530

3,947

6% 2/1/22

840

903

Series D:

5.25% 8/1/13

2,500

2,696

5.25% 8/1/21 (MBIA Insured)

5,000

5,416

5.375% 8/1/17

2,500

2,701

Series E:

6% 8/1/11

140

151

6% 8/1/26

1,230

1,309

6.5% 2/15/06

315

332

Series F, 6% 8/1/16

1,800

1,937

Series G:

5.25% 8/1/14 (AMBAC Insured)

1,635

1,807

6% 10/15/26

3,630

3,950

Series H:

5.5% 8/1/12

9,000

9,851

5.75% 3/15/11 (FGIC Insured)

3,000

3,435

5.75% 3/15/13 (FSA Insured)

1,805

2,085

6% 8/1/17

1,000

1,094

Series I, 6.125% 4/15/11

8,495

9,287

Series J:

5.5% 6/1/18 (MBIA Insured)

5,000

5,693

5.875% 2/15/19

845

894

6.125% 8/1/12

340

375

Series L, 5.75% 8/1/12

3,700

4,030

New York City Health & Hosp. Corp. Rev. Series A:

5.5% 2/15/16 (FSA Insured)

2,605

2,927

5.5% 2/15/17 (FSA Insured)

3,000

3,365

5.5% 2/15/18 (FSA Insured)

2,500

2,794

5.5% 2/15/19 (FSA Insured)

1,250

1,401

New York City Indl. Dev. Agcy. Civic Facility Rev.:

(New York Univ. Proj.) Series 2001, 5.375% 7/1/15 (AMBAC Insured)

1,090

1,213

(Spence School, Inc. Proj.) 5% 7/1/27

3,255

3,349

New York City Indl. Dev. Agcy. Indl. Dev. Rev. (Japan Airlines Co. Ltd. Proj.) Series 1991, 6% 11/1/15
(FSA Insured) (c)

2,345

2,427

New York City Indl. Dev. Agcy. Spl. Facilities Rev. (Term. One Group Assoc. Proj.) 6% 1/1/08 (c)

500

509

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.:

Series 1996 B:

5.75% 6/15/26 (MBIA Insured)

$ 645

$ 689

5.875% 6/15/26

18,085

19,363

Series 1997 A, 5.375% 6/15/26 (FSA Insured)

13,450

14,258

Series 1997 B, 5.25% 6/15/29 (FGIC Insured)

3,785

3,890

Series 1999 A, 5.75% 6/15/30

1,000

1,097

Series 2000, 5.5% 6/15/33

14,215

15,307

Series 2001 C, 5.125% 6/15/33

3,960

4,092

Series A:

5% 6/15/32

5,000

5,098

5.125% 6/15/34 (MBIA Insured)

4,200

4,359

5.25% 6/15/33 (FGIC Insured)

1,280

1,336

5.375% 6/15/15 (FGIC Insured)

7,000

7,862

6% 6/15/28

15,000

17,167

Series B:

5.375% 6/15/07 (Escrowed to Maturity) (d)

145

147

5.75% 6/15/26 (MBIA Insured)

5,025

5,502

5.75% 6/15/29 (MBIA Insured)

5,965

6,531

Series G, 5.125% 6/15/32 (FGIC Insured)

4,750

4,926

5.5% 6/15/33 (MBIA Insured)

2,075

2,242

New York City Trust Cultural Resources Rev.:

(American Museum of Natural History Proj.) Series A, 5.65% 4/1/22 (MBIA Insured)

4,850

5,264

(Museum of Modern Art Proj.) Series 2001 D, 5.125% 7/1/31 (AMBAC Insured)

3,200

3,326

(New York Botanical Garden Proj.) 5.75% 7/1/16 (MBIA Insured)

1,250

1,335

New York State Dorm. Auth. Lease Rev. Series 2003 B, 5.25%, tender 7/1/13 (XL Cap. Assurance, Inc. Insured) (b)

10,000

11,190

New York State Dorm. Auth. Revs.:

(Barnard College Proj.) 5.25% 7/1/26 (AMBAC Insured)

4,625

4,897

(Champlain Valley Physicians Proj.):

6% 7/1/09 (AMBAC Insured)

370

424

6% 7/1/10 (AMBAC Insured)

250

289

(City Univ. Sys. Consolidation Proj.):

Series 2000 A, 6.125% 7/1/12 (AMBAC Insured)

4,300

5,011

Series C, 7.5% 7/1/10

4,000

4,586

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Dorm. Auth. Revs.: - continued

(Colgate Univ. Proj.):

6% 7/1/16 (MBIA Insured)

$ 1,900

$ 2,321

6% 7/1/21 (MBIA Insured)

2,500

3,090

(Columbia Univ. Proj.):

Series 2001 A:

5.25% 7/1/13

1,000

1,127

5.25% 7/1/15

2,000

2,241

Series B, 5.375% 7/1/18

1,000

1,128

(Ithaca College Proj.) 5.25% 7/1/26 (AMBAC Insured)

9,805

10,186

(Jewish Med. Ctr. Proj.) 5% 7/1/18 (MBIA Insured)

8,000

8,397

(Long Island Jewish Med. Ctr. Proj.):

5% 7/1/08 (MBIA Insured)

2,000

2,185

5.25% 7/1/11 (MBIA Insured)

3,000

3,290

(Manhattanville College Proj.) 0% 7/1/10 (MBIA Insured)

2,175

1,807

(Mental Health Svcs. Facilities Impt. Proj.):

Series A:

5.75% 8/15/11

2,990

3,264

5.75% 8/15/11 (Pre-Refunded to 2/15/07
@ 102) (d)

10

11

Series B:

5.75% 2/15/11

2,535

2,767

5.75% 2/15/11 (Pre-Refunded to 2/15/07
@ 102) (d)

15

17

(Montefiore Med. Ctr. Proj.) Series 2000:

5.8% 8/1/30

3,000

3,278

5.85% 8/1/40

9,500

10,396

(New York & Presbyterian Hosp. Proj.) 4.4% 8/1/13 (AMBAC Insured)

850

871

(New York Hosp. Med. Ctr. Proj.) 5.25% 2/1/07 (AMBAC Insured)

4,350

4,656

(New York Univ. Proj.):

Series 2:

5.5% 7/1/17 (AMBAC Insured)

755

852

5.5% 7/1/19 (AMBAC Insured)

1,705

1,917

5.5% 7/1/20 (AMBAC Insured)

860

966

Series A:

5.75% 7/1/15 (MBIA Insured)

2,295

2,737

5.75% 7/1/27 (MBIA Insured)

11,000

13,155

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Dorm. Auth. Revs.: - continued

(North Shore Univ. Hosp. Proj.) 5.5% 11/1/14 (MBIA Insured)

$ 1,500

$ 1,755

(Rochester Institute of Technology Proj.) 5.25% 7/1/22 (MBIA Insured)

4,875

5,273

(Saint Joseph's Hosp. Health Ctr. Proj.) 6% 7/1/08 (MBIA Insured)

1,260

1,408

(School District Fing. Prog.):

Series 2002 D, 5.5% 10/1/17 (MBIA Insured)

7,925

9,020

Series 2002 E, 5.75% 10/1/22 (MBIA Insured)

1,485

1,698

Series 2002 H, 5.5% 10/1/17 (MBIA Insured)

2,600

2,959

Series 2002 I, 5.75% 10/1/18 (MBIA Insured)

1,500

1,732

(State Univ. Edl. Facilities Proj.):

Series A, 5.25% 5/15/15 (MBIA Insured)

5,000

5,735

Series B, 7.5% 5/15/11

2,365

2,766

5.5% 5/15/09

3,000

3,295

(The Jamaica Hosp. Proj.) Series F:

5.1% 2/15/12 (MBIA Insured)

3,605

3,910

5.2% 2/15/13 (MBIA Insured)

6,585

7,118

(Winthrop-South Nassau Univ. Health Sys. Obig. Group Proj.) Series A:

6% 7/1/14

1,095

1,215

6% 7/1/15

1,160

1,276

6% 7/1/16

1,230

1,347

(Yeshiva Univ. Proj.) Series 2001:

5.375% 7/1/12 (AMBAC Insured)

1,000

1,131

5.375% 7/1/13 (AMBAC Insured)

800

902

5.375% 7/1/14 (AMBAC Insured)

1,130

1,274

5.375% 7/1/16 (AMBAC Insured)

670

744

5.375% 7/1/17 (AMBAC Insured)

370

408

Series 1990 B, 7.5% 5/15/11 (Pre-Refunded to 5/15/10 @ 100) (d)

1,135

1,376

Series 2002 A, 5.75% 10/1/17 (MBIA Insured)

30,260

35,163

Series 2002 B:

6% 10/1/22 (MBIA Insured)

2,775

3,245

6% 10/1/29 (MBIA Insured)

5,600

6,432

Series 2003 A, 5.375% 3/15/22

2,000

2,176

Series B:

5.25%, tender 5/15/12 (b)

8,500

9,437

6%, tender 5/15/12 (b)

11,000

12,754

5.5% 7/1/16 (AMBAC Insured)

725

779

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Energy Research & Dev. Auth. Facilities Rev. (Consolidated Edison Co. Proj.) Series A, 6.1% 8/15/20

$ 10,600

$ 11,046

New York State Envir. Facilities Corp. Clean Wtr. & Drinking Wtr. Rev.:

(New York City Muni. Wtr. Fin. Auth. Proj.):

Series B, 5.25% 6/15/16

500

558

Series C:

5.25% 7/15/16

2,340

2,613

5.25% 7/15/17

2,410

2,669

Series D, 5% 6/15/20

20,150

21,724

Series G, 5.25% 10/15/20

1,255

1,364

(New York Muni. Wtr. Fin. Auth. Proj.) Series D, 5.375% 6/15/19

5,250

5,878

(Pooled Fing. Prog.):

Series F:

5.25% 11/15/15

2,595

2,917

5.25% 11/15/16

3,770

4,213

Series I:

5.25% 9/15/15

2,085

2,339

5.25% 9/15/17

2,395

2,657

Series C:

5% 6/15/19

815

864

5.25% 6/15/16

3,500

3,857

Series F:

4.875% 6/15/18

1,735

1,819

4.875% 6/15/20

2,175

2,268

5% 6/15/15

1,295

1,378

5.25% 6/15/13

1,575

1,716

New York State Envir. Facilities Corp. Rev. Series A:

5.25% 1/1/21 (FGIC Insured)

4,785

5,251

5.375% 1/1/16 (FGIC Insured)

2,170

2,447

New York State Envir. Facilities Corp. Solid Waste Disp. Rev. (Gen. Elec. Cap. Corp. Proj.) Series 1989 A, 4.25%, tender 12/2/11 (b)(c)

10,700

11,145

New York State Envir. Facilities Corp. State Wtr. Poll. Cont. Revolving Fund Rev.:

(New York City Muni. Wtr. Fin. Auth. Proj.):

Series 2002, 5.75% 6/15/11

455

529

Series A, 7% 6/15/12

190

191

Series C, 5.85% 7/15/15

30

32

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Envir. Facilities Corp. State Wtr. Poll. Cont. Revolving Fund Rev.: - continued

(New York City Muni. Wtr. Fin. Auth. Proj.): - continued

Series E:

6.25% 6/15/05

$ 1,200

$ 1,224

6.5% 6/15/14

130

131

(Pooled Ln. Prog.) Series B, 5.2% 5/15/14

1,115

1,275

Series 2002 D:

6.3% 5/15/05

365

374

6.3% 11/15/05

105

107

Series B, 5.2% 5/15/14 (Escrowed to Maturity) (d)

1,105

1,240

New York State Hsg. Fin. Agcy. Personal Income Tax Rev. (Econ. Dev. & Hsg. Proj.) Series A:

5.25% 9/15/15 (MBIA Insured)

1,690

1,895

5.25% 9/15/16 (MBIA Insured)

1,780

1,991

5.25% 3/15/17 (MBIA Insured)

2,240

2,482

5.25% 3/15/18

2,290

2,532

5.25% 3/15/19

2,480

2,727

5.25% 9/15/20

2,685

2,944

5.25% 3/15/21

2,230

2,430

New York State Med. Care Facilities Fin. Agcy. Rev. (Long-Term Health Care Proj.) Series A, 6.8% 11/1/14 (FSA Insured)

1,170

1,173

New York State Mtg. Agcy. Rev. (Homeowner Mtg. Prog.):

Series 53, 5.9% 10/1/17

1,535

1,582

Series 69, 4.7% 4/1/24 (c)

730

733

New York State Pwr. Auth. & Gen. Purp. Rev.:

Series A, 5.25% 11/15/40

25,860

26,870

Series W, 6.5% 1/1/08 (Escrowed to Maturity) (d)

250

269

New York State Thruway Auth. Gen. Rev.:

Series D, 5.375% 1/1/27

3,000

3,133

Series E, 5.25% 1/1/12

5,410

5,892

New York State Thruway Auth. Hwy. & Bridge Trust Fund:

Series A, 5.25% 4/1/16 (AMBAC Insured)

5,175

5,500

Series B:

5.25% 4/1/15 (MBIA Insured)

5,000

5,527

5.375% 4/1/17 (AMBAC Insured)

5,000

5,542

5.375% 4/1/18 (AMBAC Insured)

5,310

5,882

Series B1:

5.75% 4/1/14 (FGIC Insured)

3,000

3,416

5.75% 4/1/15 (FGIC Insured)

4,000

4,551

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Thruway Auth. State Personal Income Tax Rev. Series A:

5.5% 3/15/18

$ 5,000

$ 5,624

5.5% 3/15/19

5,460

6,130

5.5% 3/15/20

3,500

3,908

New York State Thruway Auth. Svc. Contract Rev.:

5.25% 4/1/14 (Pre-Refunded to 4/1/11 @ 100) (d)

735

835

5.5% 4/1/14

11,700

13,168

5.5% 4/1/15

6,200

6,935

5.5% 4/1/16

3,665

4,092

6% 4/1/11

1,605

1,766

New York State Urban Dev. Corp. Rev.:

(Correctional Cap. Facilities Proj.) Series A, 6.5% 1/1/09 (FSA Insured)

3,000

3,469

(Sports Facilities Assistance Prog.) Series A, 6.25% 4/1/06 (MBIA Insured)

15

16

(State Facilities & Equip. Proj.) Series 2002 A, 5.5% 3/15/32

2,500

2,646

Series B, 5.25% 3/15/15 (MBIA Insured)

1,800

2,024

Series C1, 5.5% 3/15/19 (FGIC Insured)

3,000

3,405

New York Thruway Auth. Second Gen. Hwy. & Bridge Trust Fund Series A:

5.25% 4/1/22 (MBIA Insured)

3,000

3,271

5.25% 4/1/23 (MBIA Insured)

3,050

3,316

New York Transitional Fin. Auth. Rev.:

Series 2000 C, 5.5% 11/1/20

5,650

6,283

Series 2003 D:

5.25% 2/1/17 (MBIA Insured)

9,385

10,419

5.25% 2/1/19 (MBIA Insured)

8,075

8,947

Series 2003 E, 5.25% 2/1/15 (FGIC Insured)

7,250

8,087

Series 2004 A, 5.125% 8/15/21 (FGIC Insured)

5,345

5,598

Series 2004 C:

5.25% 2/1/14

6,000

6,826

5.5% 2/1/08 (Escrowed to Maturity) (d)

310

342

Series A:

5.25% 11/15/12 (FSA Insured)

1,500

1,653

5.375% 11/15/21

2,900

3,210

5.5% 11/15/17 (FGIC Insured)

6,725

7,667

5.5% 11/15/20 (FGIC Insured)

9,000

10,179

5.75% 2/15/16

3,000

3,394

Series B:

5.125% 11/1/14

1,000

1,084

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York Transitional Fin. Auth. Rev.: - continued

Series B:

5.375% 2/1/15

$ 3,000

$ 3,368

Series C:

5.375% 2/1/17

1,000

1,108

5.5% 11/1/24

1,000

1,094

Series D, 5.25% 2/1/20 (MBIA Insured)

5,000

5,506

Niagara County Indl. Dev. Agcy. Solid Waste Disp. Rev. Series 2001 C, 5.625%, tender 11/15/14 (b)(c)

3,000

3,216

Niagara Falls City Niagara County Pub. Impt.:

7.5% 3/1/08 (MBIA Insured)

995

1,156

7.5% 3/1/10 (MBIA Insured)

1,155

1,410

7.5% 3/1/11 (MBIA Insured)

1,245

1,557

7.5% 3/1/16 (MBIA Insured)

1,060

1,439

7.5% 3/1/17 (MBIA Insured)

1,200

1,654

Sales Tax Asset Receivables Corp. Series A, 5.25% 10/15/27 (AMBAC Insured) (a)

4,000

4,303

Saratoga County Indl. Dev. Agcy. (The Saratoga Hosp. Proj.) Series A, 5% 12/1/10

1,095

1,172

Schenectady Indl. Dev. Agcy. Civic Facility Rev. (Union College Proj.) Series A, 5.625% 7/1/31 (AMBAC Insured)

2,000

2,199

Suffolk County Indl. Dev. Agcy. Civic Facility Rev. (Huntington Hosp. Proj.) Series B, 6% 11/1/22

4,305

4,517

Taconic Hills Central School District at Craryville 5% 6/15/16 (FGIC Insured)

1,130

1,232

Tobacco Settlement Fing. Corp.:

Series A1:

5.25% 6/1/21 (AMBAC Insured)

3,250

3,519

5.25% 6/1/22 (AMBAC Insured)

5,300

5,706

5.5% 6/1/16

14,500

15,847

Series B1:

5% 6/1/10

1,685

1,826

5% 6/1/11

1,375

1,502

Series C1:

5% 6/1/11

4,780

4,986

5.5% 6/1/20

3,000

3,304

Triborough Bridge & Tunnel Auth. (Convention Ctr. Proj.) Series E:

6% 1/1/11 (XL Cap. Assurance, Inc. Insured)

4,000

4,663

7.25% 1/1/10 (XL Cap. Assurance, Inc. Insured)

8,705

9,812

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Triborough Bridge & Tunnel Auth. Revs.:

Series A:

5.25% 1/1/28 (Pre-Refunded to 7/1/22 @ 100) (d)

$ 9,500

$ 10,824

6% 1/1/11 (Escrowed to Maturity) (d)

500

587

Series B:

5.2% 1/1/27 (Pre-Refunded to 1/1/22 @ 100) (d)

2,000

2,266

5.2% 1/1/27 (Pre-Refunded to 1/1/22 @ 100) (d)

2,000

2,266

5.5% 1/1/30 (Pre-Refunded to 1/1/22 @ 100) (d)

2,015

2,296

Series Q, 6.75% 1/1/09 (Escrowed to Maturity) (d)

1,000

1,122

Series Y:

5.5% 1/1/17 (Escrowed to Maturity) (d)

15,425

17,970

6% 1/1/12 (Escrowed to Maturity) (d)

20,000

23,119

Triborough Bridge & Tunnel Auth. Spl. Oblig. Series A, 5.125% 1/1/12 (Escrowed to Maturity) (d)

1,000

1,104

Upper Mohawk Valley Reg'l. Wtr. Fin. Auth. Wtr. Sys. Rev. Series A, 5.125% 10/1/26 (FSA Insured)

5,000

5,142

Yonkers Gen. Oblig. Series 2001 A:

5% 12/15/11 (AMBAC Insured)

1,415

1,578

5% 12/15/12 (AMBAC Insured)

1,245

1,392

1,301,862

New York & New Jersey - 4.9%

Port Auth. of New York & New Jersey:

120th Series:

5.75% 10/15/11 (MBIA Insured) (c)

15,000

16,445

5.75% 10/15/12 (MBIA Insured) (c)

15,530

17,026

124th Series:

5% 8/1/08 (c)

4,875

5,268

5% 8/1/13 (FGIC Insured) (c)

3,000

3,179

126th Series, 5.25% 5/15/37 (FGIC Insured) (c)

5,970

6,207

128th Series, 5% 11/1/19 (FSA Insured)

7,200

7,861

134th Series, 5% 1/15/39

10,000

10,307

Port Auth. of New York & New Jersey Spl. Oblig. Rev. (JFK Int'l. Air Term. Spl. Proj.) Series 6, 5.75% 12/1/25 (MBIA Insured) (c)

2,000

2,113

68,406

Puerto Rico - 0.9%

Puerto Rico Commonwealth Gen. Oblig. Series 2001 A, 5.5% 7/1/17 (XL Cap. Assurance, Inc. Insured)

3,800

4,465

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

Puerto Rico - continued

Puerto Rico Commonwealth Hwy. & Trans. Auth. Trans. Rev. Series 1998, 5.75% 7/1/22 (CIFG North America Insured)

$ 3,000

$ 3,458

Puerto Rico Commonwealth Infrastructure Fing. Auth. Series 2000 A, 5.5% 10/1/32 (Escrowed to Maturity) (d)

2,300

2,525

Puerto Rico Elec. Pwr. Auth. Pwr. Rev. Series QQ:

5.25% 7/1/13 (XL Cap. Assurance, Inc. Insured) (a)

1,500

1,670

5.5% 7/1/16 (XL Cap. Assurance, Inc. Insured) (a)

1,000

1,144

13,262

TOTAL INVESTMENT PORTFOLIO - 98.4%

(Cost $1,313,015)

1,383,530

NET OTHER ASSETS - 1.6%

21,962

NET ASSETS - 100%

$ 1,405,492

Swap Agreements

Expiration Date

Notional Amount (000s)

Value
(000s)

Interest Rate Swap

Receive quarterly a fixed rate equal to 4.165% and pay quarterly a floating rate based on BMA Municipal Swap Index with JPMorgan Chase, Inc.

March 2025

$ 6,000

$ 64

Receive quarterly a fixed rate equal to 4.522% and pay quarterly a floating rate based on BMA Municipal Swap Index with JPMorgan Chase, Inc.

Nov. 2024

7,500

490

$ 13,500

$ 554

Legend

(a) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(b) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

(c) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

(d) Security collateralized by an amount sufficient to pay interest and principal.

Income Tax Information

At October 31, 2004, the aggregate cost of investment securities for income tax purposes was $1,312,803,000. Net unrealized appreciation aggregated $70,727,000, of which $71,300,000 related to appreciated investment securities and $573,000 related to depreciated investment securities.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR Corp.

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity New York Municipal Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

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.

Fidelity New York Municipal Trust

By:

/s/John Hebble

John Hebble

President and Treasurer

Date:

December 20, 2004

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/John Hebble

John Hebble

President and Treasurer

Date:

December 20, 2004

By:

/s/Timothy F. Hayes

Timothy F. Hayes

Chief Financial Officer

Date:

December 20, 2004