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:

April 30, 2005

Item 1. Schedule of Investments

Quarterly Holdings Report

for

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

April 30, 2005

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

1.815813.100

ASNM-QTLY-0605

Investments April 30, 2005 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 98.5%

Principal Amount (000s)

Value
(000s)

New York - 93.4%

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

5% 7/1/10 (AMBAC Insured)

$ 600

$ 652

5% 7/1/11 (AMBAC Insured)

500

548

5.5% 7/1/21 (AMBAC Insured)

2,300

2,542

Battery Park City Auth. Rev. Series A:

5.25% 11/1/16

2,000

2,224

5.25% 11/1/17

1,400

1,547

Cherry Valley Springfield Central School District:

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

435

580

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

435

589

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

435

597

7.8% 5/1/17 (MBIA Insured)

435

606

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

434

612

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

(Bard College Civic Facility Proj.):

5.5% 8/1/20

4,190

4,549

5.75% 8/1/30

9,445

10,244

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

7,000

7,491

Erie County Gen. Oblig. Series A:

5% 9/1/15 (FGIC Insured)

2,625

2,856

5% 9/1/16 (FGIC Insured)

1,680

1,819

5% 9/1/17 (FGIC Insured)

1,000

1,081

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

5.75% 5/1/17 (FSA Insured)

11,890

13,554

5.75% 5/1/19 (FSA Insured)

1,500

1,694

5.75% 5/1/20 (FSA Insured)

1,400

1,578

5.75% 5/1/22 (FSA Insured)

4,900

5,517

5.75% 5/1/23 (FSA Insured)

7,620

8,683

5.75% 5/1/26 (FSA Insured)

3,000

3,403

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

3,485

3,808

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

1,000

1,090

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

7,000

7,283

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

25,000

27,117

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

1,100

1,220

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

$ 13,575

$ 14,990

Metropolitan Trans. Auth. Rev.:

Series 2002 A:

5% 11/15/30 (FSA Insured)

69,005

71,991

5.5% 11/15/15 (AMBAC Insured)

1,340

1,512

5.5% 11/15/16 (AMBAC Insured)

1,000

1,124

5.5% 11/15/17 (AMBAC Insured)

1,000

1,125

5.5% 11/15/18 (AMBAC Insured)

1,700

1,907

5.75% 11/15/32

10,000

11,232

Series A:

5.125% 11/15/31

12,150

12,678

5.5% 11/15/18 (AMBAC Insured)

2,000

2,322

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

4,000

4,404

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

2,200

2,454

Series F, 5.25% 11/15/27 (MBIA Insured)

3,000

3,226

Metropolitan Trans. Auth. Svc. Contract Rev.:

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

1,310

1,405

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

3,025

3,420

Series 7:

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

3,500

2,949

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

3,000

3,017

Series A:

5.5% 1/1/20 (MBIA Insured)

8,000

8,919

5.5% 7/1/20 (MBIA Insured)

3,000

3,345

Series B:

5.5% 7/1/19 (MBIA Insured)

3,000

3,347

5.5% 7/1/23 (MBIA Insured)

5,000

5,538

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

3,000

3,387

Metropolitan Trans. Auth. Transit Facilities Rev.:

Series C:

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

1,270

1,384

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

765

851

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

5,980

4,827

Monroe County Arpt. Auth. Arpt. Rev. 5.25% 1/1/13 (MBIA Insured) (b)

1,000

1,079

Monroe County Gen. Oblig.:

6% 6/1/05

770

772

6.5% 6/1/05

115

115

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Monroe County Gen. Oblig.: - continued

6.5% 6/1/06

$ 120

$ 124

6.5% 6/1/07 (AMBAC Insured)

50

54

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

1,000

1,082

Nassau County Gen. Oblig.:

Series T, 5.2% 9/1/11 (Pre-Refunded to 9/1/06
@ 102) (c)

2,695

2,837

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

2,150

2,263

Series Z, 5% 9/1/11 (FGIC Insured)

3,000

3,245

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

Series 2001 A, 5.875% 11/1/11

165

181

Series 2001 B, 5.875% 11/1/11

1,140

1,251

Series 2001 C, 5.625% 11/1/10

725

783

Series 2001 D, 5.625% 11/1/10

1,225

1,323

Nassau County Interim Fin. Auth.:

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

10,845

12,166

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

2,375

2,554

New York City Gen. Oblig.:

Series 1996 F:

5.75% 2/1/15 (Pre-Refunded to 2/1/06
@ 101.5) (c)

495

514

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

645

680

Series 1997 L:

5.75% 8/1/12

2,080

2,208

5.75% 8/1/12 (Pre-Refunded to 8/1/07 @ 101) (c)

1,620

1,739

Series 2000 A, 6.5% 5/15/11

3,000

3,449

Series 2002 B, 5.75% 8/1/15

3,500

3,917

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

7,000

7,835

Series 2003 C, 5.25% 8/1/10

5,000

5,440

Series 2003 E:

5.25% 8/1/10

2,000

2,176

5.25% 8/1/11

6,245

6,842

5.25% 8/1/14

3,390

3,725

Series 2003 F, 5.5% 12/15/10

1,000

1,104

Series 2003 I, 5.75% 3/1/16

3,000

3,373

Series 2005 J:

5% 3/1/11

5,825

6,288

5% 3/1/13

2,500

2,712

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series A:

5.25% 11/1/14 (MBIA Insured)

$ 1,350

$ 1,491

6.25% 8/1/08

1,000

1,053

Series B:

5.75% 8/1/14

3,000

3,369

5.875% 8/15/13

1,970

2,068

6.2% 8/15/06

1,740

1,774

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

115

117

6.5% 8/15/11

1,000

1,163

7.5% 2/1/07

335

337

Series C:

5.75% 3/15/27 (FSA Insured)

3,530

3,985

6% 2/1/22

40

42

6% 2/1/22 (Pre-Refunded to 8/1/06 @ 101.5) (c)

805

849

Series D:

5.25% 8/1/13

1,775

1,864

5.25% 8/1/13 (Pre-Refunded to 8/1/07 @ 101) (c)

725

770

5.25% 8/1/21 (MBIA Insured)

5,000

5,283

5.375% 8/1/17

2,145

2,257

5.375% 8/1/17 (Pre-Refunded to 8/1/07 @ 101) (c)

355

378

Series E:

6% 8/1/11

140

147

6% 8/1/26

385

404

6% 8/1/26 (Pre-Refunded to 8/1/06 @ 101.5) (c)

845

892

6.5% 2/15/06

315

324

Series F, 6% 8/1/16

1,155

1,213

Series G:

5.25% 8/1/14 (AMBAC Insured)

1,635

1,794

6% 10/15/26 (Pre-Refunded to 10/15/07 @ 101) (c)

3,630

3,943

Series H:

5.5% 8/1/12

9,000

9,630

5.75% 3/15/11 (FGIC Insured)

3,000

3,384

5.75% 3/15/13 (FSA Insured)

1,805

2,044

6% 8/1/17

980

1,044

6% 8/1/17 (Pre-Refunded to 8/1/07 @ 101) (c)

20

22

Series I:

6.125% 4/15/11

2,620

2,785

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series I:

6.125% 4/15/11 (Pre-Refunded to 4/15/07 @ 101) (c)

$ 5,875

$ 6,311

Series J:

5.5% 6/1/18 (MBIA Insured)

5,000

5,608

5.875% 2/15/19

95

98

6.125% 8/1/12

340

364

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

5.5% 2/15/16 (FSA Insured)

2,605

2,892

5.5% 2/15/17 (FSA Insured)

3,000

3,323

5.5% 2/15/18 (FSA Insured)

2,500

2,768

5.5% 2/15/19 (FSA Insured)

1,250

1,384

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

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

1,090

1,200

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

3,255

3,406

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

2,210

2,287

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

500

508

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

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

3,785

3,982

Series 1999 A, 5.75% 6/15/30 (Pre-Refunded to 6/15/09 @ 101) (c)

1,045

1,167

Series 2000, 5.5% 6/15/33

14,215

15,452

Series 2001 C, 5.125% 6/15/33

3,960

4,146

Series 2002 A, 5.125% 6/15/34 (FSA Insured)

16,500

17,326

Series A:

5% 6/15/32

5,000

5,162

5.125% 6/15/34 (MBIA Insured)

4,200

4,423

5.25% 6/15/33 (FGIC Insured)

1,280

1,348

5.375% 6/15/15

4,000

4,437

5.375% 6/15/15 (FGIC Insured)

7,000

7,778

6% 6/15/28 (Pre-Refunded to 6/15/12 @ 100) (c)

15,000

17,569

Series B:

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

145

146

5.75% 6/15/26 (Pre-Refunded to 6/15/07
@ 101) (c)

5,030

5,387

Series G:

5.125% 6/15/32

3,000

3,125

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series G:

5.125% 6/15/32 (FGIC Insured)

$ 4,750

$ 4,961

5.5% 6/15/33 (MBIA Insured)

2,075

2,261

New York City Trust Cultural Resources Rev.:

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

4,850

5,133

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

3,200

3,365

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

1,250

1,304

New York State Dorm. Auth. Lease Rev.:

Series 2003 B, 5.25%, tender 7/1/13 (XL Cap. Assurance, Inc. Insured) (a)

10,000

11,038

Series A, 5.25% 5/15/10

3,440

3,722

New York State Dorm. Auth. Revs.:

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

4,625

4,880

(Champlain Valley Physicians Proj.):

6% 7/1/09 (AMBAC Insured)

370

411

6% 7/1/10 (AMBAC Insured)

250

282

(City Univ. Sys. Consolidation Proj.):

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

4,300

4,930

Series A, 5.75% 7/1/13

6,000

6,764

Series C, 7.5% 7/1/10

7,000

7,757

(Colgate Univ. Proj.):

6% 7/1/16 (MBIA Insured)

1,900

2,287

6% 7/1/21 (MBIA Insured)

2,500

3,081

(Columbia Univ. Proj.):

Series 2001 A:

5.25% 7/1/13

1,000

1,115

5.25% 7/1/15

2,000

2,224

Series B, 5.375% 7/1/18

1,000

1,112

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

9,805

10,438

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

8,000

8,342

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

5% 7/1/08 (MBIA Insured)

2,000

2,123

5.25% 7/1/11 (MBIA Insured)

3,000

3,232

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 2,175

$ 1,823

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

Series A, 5.75% 8/15/11 (Pre-Refunded to 2/15/07 @ 102) (c)

10

11

Series B:

5.75% 2/15/11

2,535

2,694

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

15

16

(Mental Health Svcs. Proj.) Series 2005 A:

5.75% 8/15/11

900

957

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

2,090

2,240

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

5.8% 8/1/30

3,000

3,297

5.85% 8/1/40

9,500

10,457

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

705

716

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

3,660

3,807

(New York Univ. Proj.):

Series 2:

5.5% 7/1/17 (AMBAC Insured)

755

835

5.5% 7/1/19 (AMBAC Insured)

1,705

1,882

5.5% 7/1/20 (AMBAC Insured)

860

948

Series A:

5.75% 7/1/15 (MBIA Insured)

2,295

2,699

5.75% 7/1/27 (MBIA Insured)

11,000

13,389

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

1,500

1,733

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

4,875

5,144

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

1,260

1,365

(School District Fing. Prog.):

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

7,925

8,874

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

1,485

1,688

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

2,600

2,920

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

500

575

(State Univ. Edl. Facilities Proj.):

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

5,000

5,662

Series B, 7.5% 5/15/11

2,365

2,688

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

(The Jamaica Hosp. Proj.) Series F:

5.1% 2/15/12 (MBIA Insured)

$ 3,605

$ 3,850

5.2% 2/15/13 (MBIA Insured)

6,585

7,030

(Upstate Cmnty. Colleges Proj.) Series B, 5.5% 7/1/22
(FGIC Insured)

5,000

5,843

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

6% 7/1/14

1,095

1,221

6% 7/1/15

1,160

1,286

6% 7/1/16

1,230

1,359

(Yeshiva Univ. Proj.) Series 2001:

5.375% 7/1/12 (AMBAC Insured)

1,000

1,100

5.375% 7/1/13 (AMBAC Insured)

800

882

5.375% 7/1/14 (AMBAC Insured)

1,130

1,244

5.375% 7/1/16 (AMBAC Insured)

670

735

5.375% 7/1/17 (AMBAC Insured)

370

405

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

1,135

1,338

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

30,260

34,520

Series 2002 B:

6% 10/1/22 (MBIA Insured)

2,775

3,210

6% 10/1/29 (MBIA Insured)

5,600

6,471

Series 2003 A, 5.375% 3/15/22 (Pre-Refunded to 3/15/13 @ 100) (c)

2,000

2,270

Series B:

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

10,400

11,424

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

11,000

12,554

5.5% 5/15/09

2,500

2,691

5.5% 5/15/09 (Pre-Refunded to 5/15/08 @ 101) (c)

500

544

5.5% 7/1/16 (AMBAC Insured)

725

761

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

10,600

10,872

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

551

Series C:

5.25% 7/15/16

2,340

2,592

5.25% 7/15/17

2,410

2,638

Series D:

5% 6/15/20

20,150

21,618

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

Series D:

5.125% 6/15/31

$ 6,900

$ 7,276

5.375% 6/15/19

5,250

5,788

Series G, 5.25% 10/15/20

1,255

1,352

(Pooled Fing. Prog.):

Series F:

5.25% 11/15/15

2,595

2,886

5.25% 11/15/16

3,770

4,177

Series I:

5.25% 9/15/15

2,085

2,314

5.25% 9/15/17

2,395

2,626

Series C:

5% 6/15/19

815

864

5.25% 6/15/16

3,500

3,814

Series F:

4.875% 6/15/18

1,735

1,807

4.875% 6/15/20

2,175

2,257

5% 6/15/15

1,295

1,375

5.25% 6/15/13

1,575

1,687

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

5.25% 1/1/21 (FGIC Insured)

4,785

5,186

5.375% 1/1/16 (FGIC Insured)

2,170

2,418

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

10,700

11,028

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

518

Series A, 7% 6/15/12

190

191

Series C, 5.85% 7/15/15

30

31

Series E:

6.25% 6/15/05

1,200

1,205

6.5% 6/15/14

130

131

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

1,115

1,260

Series 2002 D:

6.3% 5/15/05

365

365

6.3% 11/15/05

105

107

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

1,105

1,224

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

$ 1,877

5.25% 9/15/16 (MBIA Insured)

1,780

1,973

5.25% 3/15/17 (MBIA Insured)

2,240

2,453

5.25% 3/15/18

2,290

2,491

5.25% 3/15/19

2,480

2,696

5.25% 9/15/20

2,685

2,909

5.25% 3/15/21

2,230

2,416

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

1,172

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

Series 53, 5.9% 10/1/17

1,370

1,405

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

245

245

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

Series A, 5.25% 11/15/40

25,860

27,187

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

250

263

New York State Thruway Auth. Gen. Rev.:

Series D, 5.375% 1/1/27 (Pre-Refunded to 1/1/07
@ 102) (c)

3,000

3,187

Series E:

5.25% 1/1/12

4,695

5,006

5.25% 1/1/12 (Pre-Refunded to 1/1/08 @ 101) (c)

715

766

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

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

5,175

5,385

Series B:

5.25% 4/1/15 (MBIA Insured)

5,000

5,486

5.375% 4/1/17 (AMBAC Insured)

5,000

5,478

5.375% 4/1/18 (AMBAC Insured)

5,310

5,831

Series B1:

5.75% 4/1/14 (FGIC Insured)

3,000

3,360

5.75% 4/1/15 (FGIC Insured)

4,000

4,477

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

5.5% 3/15/18

5,000

5,544

5.5% 3/15/19

5,460

6,051

5.5% 3/15/20

3,500

3,879

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 735

$ 819

5.5% 4/1/14

11,700

13,033

5.5% 4/1/15

6,200

6,867

5.5% 4/1/16

3,665

4,052

6% 4/1/11

1,605

1,724

New York State Urban Dev. Corp. Rev.:

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

3,000

3,361

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

15

15

(State Facilities & Equip. Proj.) Series 2002 A, 5.5% 3/15/32 (Pre-Refunded to 3/15/12 @ 100) (c)

2,500

2,837

(State Facilities and Equip. Proj.) Series 2004 A2:

5.5% 3/15/19 (MBIA Insured)

2,500

2,893

5.5% 3/15/22 (MBIA Insured)

15,000

17,498

5.5% 3/15/23 (MBIA Insured)

3,000

3,507

Series 2004 A2, 5.5% 3/15/21 (MBIA Insured)

23,000

26,786

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

1,800

2,003

Series C1, 5.5% 3/15/19 (Pre-Refunded to 3/15/13 @ 100) (c)

3,000

3,443

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

5.25% 4/1/22 (MBIA Insured)

3,000

3,248

5.25% 4/1/23 (MBIA Insured)

3,050

3,323

New York Transitional Fin. Auth. Rev.:

Series 2000 C, 5.5% 11/1/20

5,650

6,197

Series 2003 D:

5% 2/1/31

20,025

20,831

5.25% 2/1/17 (MBIA Insured)

9,385

10,296

5.25% 2/1/19 (MBIA Insured)

8,075

8,791

Series 2003 E:

5.25% 2/1/15 (FGIC Insured)

7,250

8,021

5.25% 2/1/17 (FGIC Insured)

5,975

6,555

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

5,345

5,619

Series 2004 C:

5.25% 2/1/14

6,000

6,727

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

310

332

Series A:

5.25% 11/15/12 (Pre-Refunded to 5/15/09
@ 101) (c)

1,500

1,647

5.375% 11/15/21

2,900

3,197

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series A:

5.5% 11/15/17 (FGIC Insured)

$ 6,725

$ 7,566

5.5% 11/15/20 (FGIC Insured)

9,000

10,050

5.75% 2/15/16

3,000

3,341

Series B:

5.125% 11/1/14

1,000

1,078

5.375% 2/1/15

3,000

3,333

Series C:

5.375% 2/1/17

1,000

1,101

5.5% 11/1/24

1,000

1,095

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

5,000

5,440

Niagara Falls City Niagara County Pub. Impt.:

7.5% 3/1/08 (MBIA Insured)

995

1,114

7.5% 3/1/10 (MBIA Insured)

1,155

1,372

7.5% 3/1/11 (MBIA Insured)

1,245

1,518

7.5% 3/1/16 (MBIA Insured)

1,060

1,417

7.5% 3/1/17 (MBIA Insured)

1,200

1,629

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

4,000

4,357

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

1,095

1,163

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

2,000

2,215

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

4,305

4,585

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

1,130

1,221

Tobacco Settlement Fing. Corp.:

Series A1:

5.25% 6/1/21 (AMBAC Insured)

3,255

3,519

5.25% 6/1/22 (AMBAC Insured)

5,300

5,711

5.5% 6/1/16

14,500

15,837

Series B1:

5% 6/1/10

1,685

1,801

5% 6/1/11

1,375

1,481

Series C1:

5% 6/1/11

4,780

4,894

5.5% 6/1/20

3,000

3,330

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

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

4,000

4,569

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 7,505

$ 8,290

Triborough Bridge & Tunnel Auth. Revs.:

Series 2002 A, 5.25% 1/1/19

1,100

1,186

Series 2005 A, 5.125% 1/1/22

5,290

5,619

Series A:

5% 1/1/32

4,055

4,196

5% 1/1/32 (MBIA Insured)

4,500

4,665

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

9,500

10,971

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

500

574

Series B:

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

2,000

2,298

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

2,000

2,298

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

5,015

5,881

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

1,000

1,083

Series Y, 6% 1/1/12 (Escrowed to Maturity) (c)

20,000

22,596

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

1,000

1,086

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

5,000

5,259

Yonkers Gen. Oblig. Series 2001 A:

5% 12/15/11 (AMBAC Insured)

1,415

1,550

5% 12/15/12 (AMBAC Insured)

1,245

1,364

1,359,582

New York & New Jersey - 4.5%

Port Auth. of New York & New Jersey:

120th Series:

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

15,000

16,039

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

15,530

16,606

124th Series:

5% 8/1/08 (b)

4,875

5,114

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

3,000

3,147

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

5,970

6,274

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

7,200

7,779

134th Series, 5% 1/15/39

10,000

10,420

65,379

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

Puerto Rico - 0.6%

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

$ 3,000

$ 3,418

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

2,300

2,515

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

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

1,500

1,692

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

1,000

1,157

8,782

TOTAL INVESTMENT PORTFOLIO - 98.5%

(Cost $1,373,782)

1,433,743

NET OTHER ASSETS - 1.5%

22,469

NET ASSETS - 100%

$ 1,456,212

Legend

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

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

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

Income Tax Information

At April 30, 2005, the aggregate cost of investment securities for income tax purposes was $1,373,549,000. Net unrealized appreciation aggregated $60,194,000, of which $60,921,000 related to appreciated investment securities and $727,000 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

Quarterly Holdings Report

for

Spartan ® New York Municipal
Income Fund

April 30, 2005

1.800351.101

NFY-QTLY-0605

Investments April 30, 2005 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 98.5%

Principal Amount (000s)

Value
(000s)

New York - 93.4%

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

5% 7/1/10 (AMBAC Insured)

$ 600

$ 652

5% 7/1/11 (AMBAC Insured)

500

548

5.5% 7/1/21 (AMBAC Insured)

2,300

2,542

Battery Park City Auth. Rev. Series A:

5.25% 11/1/16

2,000

2,224

5.25% 11/1/17

1,400

1,547

Cherry Valley Springfield Central School District:

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

435

580

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

435

589

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

435

597

7.8% 5/1/17 (MBIA Insured)

435

606

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

434

612

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

(Bard College Civic Facility Proj.):

5.5% 8/1/20

4,190

4,549

5.75% 8/1/30

9,445

10,244

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

7,000

7,491

Erie County Gen. Oblig. Series A:

5% 9/1/15 (FGIC Insured)

2,625

2,856

5% 9/1/16 (FGIC Insured)

1,680

1,819

5% 9/1/17 (FGIC Insured)

1,000

1,081

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

5.75% 5/1/17 (FSA Insured)

11,890

13,554

5.75% 5/1/19 (FSA Insured)

1,500

1,694

5.75% 5/1/20 (FSA Insured)

1,400

1,578

5.75% 5/1/22 (FSA Insured)

4,900

5,517

5.75% 5/1/23 (FSA Insured)

7,620

8,683

5.75% 5/1/26 (FSA Insured)

3,000

3,403

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

3,485

3,808

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

1,000

1,090

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

7,000

7,283

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

25,000

27,117

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

1,100

1,220

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

$ 13,575

$ 14,990

Metropolitan Trans. Auth. Rev.:

Series 2002 A:

5% 11/15/30 (FSA Insured)

69,005

71,991

5.5% 11/15/15 (AMBAC Insured)

1,340

1,512

5.5% 11/15/16 (AMBAC Insured)

1,000

1,124

5.5% 11/15/17 (AMBAC Insured)

1,000

1,125

5.5% 11/15/18 (AMBAC Insured)

1,700

1,907

5.75% 11/15/32

10,000

11,232

Series A:

5.125% 11/15/31

12,150

12,678

5.5% 11/15/18 (AMBAC Insured)

2,000

2,322

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

4,000

4,404

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

2,200

2,454

Series F, 5.25% 11/15/27 (MBIA Insured)

3,000

3,226

Metropolitan Trans. Auth. Svc. Contract Rev.:

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

1,310

1,405

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

3,025

3,420

Series 7:

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

3,500

2,949

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

3,000

3,017

Series A:

5.5% 1/1/20 (MBIA Insured)

8,000

8,919

5.5% 7/1/20 (MBIA Insured)

3,000

3,345

Series B:

5.5% 7/1/19 (MBIA Insured)

3,000

3,347

5.5% 7/1/23 (MBIA Insured)

5,000

5,538

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

3,000

3,387

Metropolitan Trans. Auth. Transit Facilities Rev.:

Series C:

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

1,270

1,384

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

765

851

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

5,980

4,827

Monroe County Arpt. Auth. Arpt. Rev. 5.25% 1/1/13 (MBIA Insured) (b)

1,000

1,079

Monroe County Gen. Oblig.:

6% 6/1/05

770

772

6.5% 6/1/05

115

115

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Monroe County Gen. Oblig.: - continued

6.5% 6/1/06

$ 120

$ 124

6.5% 6/1/07 (AMBAC Insured)

50

54

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

1,000

1,082

Nassau County Gen. Oblig.:

Series T, 5.2% 9/1/11 (Pre-Refunded to 9/1/06
@ 102) (c)

2,695

2,837

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

2,150

2,263

Series Z, 5% 9/1/11 (FGIC Insured)

3,000

3,245

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

Series 2001 A, 5.875% 11/1/11

165

181

Series 2001 B, 5.875% 11/1/11

1,140

1,251

Series 2001 C, 5.625% 11/1/10

725

783

Series 2001 D, 5.625% 11/1/10

1,225

1,323

Nassau County Interim Fin. Auth.:

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

10,845

12,166

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

2,375

2,554

New York City Gen. Oblig.:

Series 1996 F:

5.75% 2/1/15 (Pre-Refunded to 2/1/06
@ 101.5) (c)

495

514

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

645

680

Series 1997 L:

5.75% 8/1/12

2,080

2,208

5.75% 8/1/12 (Pre-Refunded to 8/1/07 @ 101) (c)

1,620

1,739

Series 2000 A, 6.5% 5/15/11

3,000

3,449

Series 2002 B, 5.75% 8/1/15

3,500

3,917

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

7,000

7,835

Series 2003 C, 5.25% 8/1/10

5,000

5,440

Series 2003 E:

5.25% 8/1/10

2,000

2,176

5.25% 8/1/11

6,245

6,842

5.25% 8/1/14

3,390

3,725

Series 2003 F, 5.5% 12/15/10

1,000

1,104

Series 2003 I, 5.75% 3/1/16

3,000

3,373

Series 2005 J:

5% 3/1/11

5,825

6,288

5% 3/1/13

2,500

2,712

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series A:

5.25% 11/1/14 (MBIA Insured)

$ 1,350

$ 1,491

6.25% 8/1/08

1,000

1,053

Series B:

5.75% 8/1/14

3,000

3,369

5.875% 8/15/13

1,970

2,068

6.2% 8/15/06

1,740

1,774

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

115

117

6.5% 8/15/11

1,000

1,163

7.5% 2/1/07

335

337

Series C:

5.75% 3/15/27 (FSA Insured)

3,530

3,985

6% 2/1/22

40

42

6% 2/1/22 (Pre-Refunded to 8/1/06 @ 101.5) (c)

805

849

Series D:

5.25% 8/1/13

1,775

1,864

5.25% 8/1/13 (Pre-Refunded to 8/1/07 @ 101) (c)

725

770

5.25% 8/1/21 (MBIA Insured)

5,000

5,283

5.375% 8/1/17

2,145

2,257

5.375% 8/1/17 (Pre-Refunded to 8/1/07 @ 101) (c)

355

378

Series E:

6% 8/1/11

140

147

6% 8/1/26

385

404

6% 8/1/26 (Pre-Refunded to 8/1/06 @ 101.5) (c)

845

892

6.5% 2/15/06

315

324

Series F, 6% 8/1/16

1,155

1,213

Series G:

5.25% 8/1/14 (AMBAC Insured)

1,635

1,794

6% 10/15/26 (Pre-Refunded to 10/15/07 @ 101) (c)

3,630

3,943

Series H:

5.5% 8/1/12

9,000

9,630

5.75% 3/15/11 (FGIC Insured)

3,000

3,384

5.75% 3/15/13 (FSA Insured)

1,805

2,044

6% 8/1/17

980

1,044

6% 8/1/17 (Pre-Refunded to 8/1/07 @ 101) (c)

20

22

Series I:

6.125% 4/15/11

2,620

2,785

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series I:

6.125% 4/15/11 (Pre-Refunded to 4/15/07 @ 101) (c)

$ 5,875

$ 6,311

Series J:

5.5% 6/1/18 (MBIA Insured)

5,000

5,608

5.875% 2/15/19

95

98

6.125% 8/1/12

340

364

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

5.5% 2/15/16 (FSA Insured)

2,605

2,892

5.5% 2/15/17 (FSA Insured)

3,000

3,323

5.5% 2/15/18 (FSA Insured)

2,500

2,768

5.5% 2/15/19 (FSA Insured)

1,250

1,384

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

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

1,090

1,200

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

3,255

3,406

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

2,210

2,287

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

500

508

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

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

3,785

3,982

Series 1999 A, 5.75% 6/15/30 (Pre-Refunded to 6/15/09 @ 101) (c)

1,045

1,167

Series 2000, 5.5% 6/15/33

14,215

15,452

Series 2001 C, 5.125% 6/15/33

3,960

4,146

Series 2002 A, 5.125% 6/15/34 (FSA Insured)

16,500

17,326

Series A:

5% 6/15/32

5,000

5,162

5.125% 6/15/34 (MBIA Insured)

4,200

4,423

5.25% 6/15/33 (FGIC Insured)

1,280

1,348

5.375% 6/15/15

4,000

4,437

5.375% 6/15/15 (FGIC Insured)

7,000

7,778

6% 6/15/28 (Pre-Refunded to 6/15/12 @ 100) (c)

15,000

17,569

Series B:

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

145

146

5.75% 6/15/26 (Pre-Refunded to 6/15/07
@ 101) (c)

5,030

5,387

Series G:

5.125% 6/15/32

3,000

3,125

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series G:

5.125% 6/15/32 (FGIC Insured)

$ 4,750

$ 4,961

5.5% 6/15/33 (MBIA Insured)

2,075

2,261

New York City Trust Cultural Resources Rev.:

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

4,850

5,133

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

3,200

3,365

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

1,250

1,304

New York State Dorm. Auth. Lease Rev.:

Series 2003 B, 5.25%, tender 7/1/13 (XL Cap. Assurance, Inc. Insured) (a)

10,000

11,038

Series A, 5.25% 5/15/10

3,440

3,722

New York State Dorm. Auth. Revs.:

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

4,625

4,880

(Champlain Valley Physicians Proj.):

6% 7/1/09 (AMBAC Insured)

370

411

6% 7/1/10 (AMBAC Insured)

250

282

(City Univ. Sys. Consolidation Proj.):

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

4,300

4,930

Series A, 5.75% 7/1/13

6,000

6,764

Series C, 7.5% 7/1/10

7,000

7,757

(Colgate Univ. Proj.):

6% 7/1/16 (MBIA Insured)

1,900

2,287

6% 7/1/21 (MBIA Insured)

2,500

3,081

(Columbia Univ. Proj.):

Series 2001 A:

5.25% 7/1/13

1,000

1,115

5.25% 7/1/15

2,000

2,224

Series B, 5.375% 7/1/18

1,000

1,112

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

9,805

10,438

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

8,000

8,342

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

5% 7/1/08 (MBIA Insured)

2,000

2,123

5.25% 7/1/11 (MBIA Insured)

3,000

3,232

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 2,175

$ 1,823

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

Series A, 5.75% 8/15/11 (Pre-Refunded to 2/15/07 @ 102) (c)

10

11

Series B:

5.75% 2/15/11

2,535

2,694

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

15

16

(Mental Health Svcs. Proj.) Series 2005 A:

5.75% 8/15/11

900

957

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

2,090

2,240

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

5.8% 8/1/30

3,000

3,297

5.85% 8/1/40

9,500

10,457

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

705

716

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

3,660

3,807

(New York Univ. Proj.):

Series 2:

5.5% 7/1/17 (AMBAC Insured)

755

835

5.5% 7/1/19 (AMBAC Insured)

1,705

1,882

5.5% 7/1/20 (AMBAC Insured)

860

948

Series A:

5.75% 7/1/15 (MBIA Insured)

2,295

2,699

5.75% 7/1/27 (MBIA Insured)

11,000

13,389

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

1,500

1,733

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

4,875

5,144

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

1,260

1,365

(School District Fing. Prog.):

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

7,925

8,874

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

1,485

1,688

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

2,600

2,920

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

500

575

(State Univ. Edl. Facilities Proj.):

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

5,000

5,662

Series B, 7.5% 5/15/11

2,365

2,688

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

(The Jamaica Hosp. Proj.) Series F:

5.1% 2/15/12 (MBIA Insured)

$ 3,605

$ 3,850

5.2% 2/15/13 (MBIA Insured)

6,585

7,030

(Upstate Cmnty. Colleges Proj.) Series B, 5.5% 7/1/22
(FGIC Insured)

5,000

5,843

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

6% 7/1/14

1,095

1,221

6% 7/1/15

1,160

1,286

6% 7/1/16

1,230

1,359

(Yeshiva Univ. Proj.) Series 2001:

5.375% 7/1/12 (AMBAC Insured)

1,000

1,100

5.375% 7/1/13 (AMBAC Insured)

800

882

5.375% 7/1/14 (AMBAC Insured)

1,130

1,244

5.375% 7/1/16 (AMBAC Insured)

670

735

5.375% 7/1/17 (AMBAC Insured)

370

405

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

1,135

1,338

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

30,260

34,520

Series 2002 B:

6% 10/1/22 (MBIA Insured)

2,775

3,210

6% 10/1/29 (MBIA Insured)

5,600

6,471

Series 2003 A, 5.375% 3/15/22 (Pre-Refunded to 3/15/13 @ 100) (c)

2,000

2,270

Series B:

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

10,400

11,424

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

11,000

12,554

5.5% 5/15/09

2,500

2,691

5.5% 5/15/09 (Pre-Refunded to 5/15/08 @ 101) (c)

500

544

5.5% 7/1/16 (AMBAC Insured)

725

761

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

10,600

10,872

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

551

Series C:

5.25% 7/15/16

2,340

2,592

5.25% 7/15/17

2,410

2,638

Series D:

5% 6/15/20

20,150

21,618

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

Series D:

5.125% 6/15/31

$ 6,900

$ 7,276

5.375% 6/15/19

5,250

5,788

Series G, 5.25% 10/15/20

1,255

1,352

(Pooled Fing. Prog.):

Series F:

5.25% 11/15/15

2,595

2,886

5.25% 11/15/16

3,770

4,177

Series I:

5.25% 9/15/15

2,085

2,314

5.25% 9/15/17

2,395

2,626

Series C:

5% 6/15/19

815

864

5.25% 6/15/16

3,500

3,814

Series F:

4.875% 6/15/18

1,735

1,807

4.875% 6/15/20

2,175

2,257

5% 6/15/15

1,295

1,375

5.25% 6/15/13

1,575

1,687

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

5.25% 1/1/21 (FGIC Insured)

4,785

5,186

5.375% 1/1/16 (FGIC Insured)

2,170

2,418

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

10,700

11,028

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

518

Series A, 7% 6/15/12

190

191

Series C, 5.85% 7/15/15

30

31

Series E:

6.25% 6/15/05

1,200

1,205

6.5% 6/15/14

130

131

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

1,115

1,260

Series 2002 D:

6.3% 5/15/05

365

365

6.3% 11/15/05

105

107

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

1,105

1,224

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

$ 1,877

5.25% 9/15/16 (MBIA Insured)

1,780

1,973

5.25% 3/15/17 (MBIA Insured)

2,240

2,453

5.25% 3/15/18

2,290

2,491

5.25% 3/15/19

2,480

2,696

5.25% 9/15/20

2,685

2,909

5.25% 3/15/21

2,230

2,416

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

1,172

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

Series 53, 5.9% 10/1/17

1,370

1,405

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

245

245

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

Series A, 5.25% 11/15/40

25,860

27,187

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

250

263

New York State Thruway Auth. Gen. Rev.:

Series D, 5.375% 1/1/27 (Pre-Refunded to 1/1/07
@ 102) (c)

3,000

3,187

Series E:

5.25% 1/1/12

4,695

5,006

5.25% 1/1/12 (Pre-Refunded to 1/1/08 @ 101) (c)

715

766

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

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

5,175

5,385

Series B:

5.25% 4/1/15 (MBIA Insured)

5,000

5,486

5.375% 4/1/17 (AMBAC Insured)

5,000

5,478

5.375% 4/1/18 (AMBAC Insured)

5,310

5,831

Series B1:

5.75% 4/1/14 (FGIC Insured)

3,000

3,360

5.75% 4/1/15 (FGIC Insured)

4,000

4,477

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

5.5% 3/15/18

5,000

5,544

5.5% 3/15/19

5,460

6,051

5.5% 3/15/20

3,500

3,879

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 735

$ 819

5.5% 4/1/14

11,700

13,033

5.5% 4/1/15

6,200

6,867

5.5% 4/1/16

3,665

4,052

6% 4/1/11

1,605

1,724

New York State Urban Dev. Corp. Rev.:

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

3,000

3,361

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

15

15

(State Facilities & Equip. Proj.) Series 2002 A, 5.5% 3/15/32 (Pre-Refunded to 3/15/12 @ 100) (c)

2,500

2,837

(State Facilities and Equip. Proj.) Series 2004 A2:

5.5% 3/15/19 (MBIA Insured)

2,500

2,893

5.5% 3/15/22 (MBIA Insured)

15,000

17,498

5.5% 3/15/23 (MBIA Insured)

3,000

3,507

Series 2004 A2, 5.5% 3/15/21 (MBIA Insured)

23,000

26,786

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

1,800

2,003

Series C1, 5.5% 3/15/19 (Pre-Refunded to 3/15/13 @ 100) (c)

3,000

3,443

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

5.25% 4/1/22 (MBIA Insured)

3,000

3,248

5.25% 4/1/23 (MBIA Insured)

3,050

3,323

New York Transitional Fin. Auth. Rev.:

Series 2000 C, 5.5% 11/1/20

5,650

6,197

Series 2003 D:

5% 2/1/31

20,025

20,831

5.25% 2/1/17 (MBIA Insured)

9,385

10,296

5.25% 2/1/19 (MBIA Insured)

8,075

8,791

Series 2003 E:

5.25% 2/1/15 (FGIC Insured)

7,250

8,021

5.25% 2/1/17 (FGIC Insured)

5,975

6,555

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

5,345

5,619

Series 2004 C:

5.25% 2/1/14

6,000

6,727

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

310

332

Series A:

5.25% 11/15/12 (Pre-Refunded to 5/15/09
@ 101) (c)

1,500

1,647

5.375% 11/15/21

2,900

3,197

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series A:

5.5% 11/15/17 (FGIC Insured)

$ 6,725

$ 7,566

5.5% 11/15/20 (FGIC Insured)

9,000

10,050

5.75% 2/15/16

3,000

3,341

Series B:

5.125% 11/1/14

1,000

1,078

5.375% 2/1/15

3,000

3,333

Series C:

5.375% 2/1/17

1,000

1,101

5.5% 11/1/24

1,000

1,095

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

5,000

5,440

Niagara Falls City Niagara County Pub. Impt.:

7.5% 3/1/08 (MBIA Insured)

995

1,114

7.5% 3/1/10 (MBIA Insured)

1,155

1,372

7.5% 3/1/11 (MBIA Insured)

1,245

1,518

7.5% 3/1/16 (MBIA Insured)

1,060

1,417

7.5% 3/1/17 (MBIA Insured)

1,200

1,629

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

4,000

4,357

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

1,095

1,163

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

2,000

2,215

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

4,305

4,585

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

1,130

1,221

Tobacco Settlement Fing. Corp.:

Series A1:

5.25% 6/1/21 (AMBAC Insured)

3,255

3,519

5.25% 6/1/22 (AMBAC Insured)

5,300

5,711

5.5% 6/1/16

14,500

15,837

Series B1:

5% 6/1/10

1,685

1,801

5% 6/1/11

1,375

1,481

Series C1:

5% 6/1/11

4,780

4,894

5.5% 6/1/20

3,000

3,330

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

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

4,000

4,569

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 7,505

$ 8,290

Triborough Bridge & Tunnel Auth. Revs.:

Series 2002 A, 5.25% 1/1/19

1,100

1,186

Series 2005 A, 5.125% 1/1/22

5,290

5,619

Series A:

5% 1/1/32

4,055

4,196

5% 1/1/32 (MBIA Insured)

4,500

4,665

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

9,500

10,971

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

500

574

Series B:

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

2,000

2,298

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

2,000

2,298

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

5,015

5,881

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

1,000

1,083

Series Y, 6% 1/1/12 (Escrowed to Maturity) (c)

20,000

22,596

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

1,000

1,086

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

5,000

5,259

Yonkers Gen. Oblig. Series 2001 A:

5% 12/15/11 (AMBAC Insured)

1,415

1,550

5% 12/15/12 (AMBAC Insured)

1,245

1,364

1,359,582

New York & New Jersey - 4.5%

Port Auth. of New York & New Jersey:

120th Series:

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

15,000

16,039

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

15,530

16,606

124th Series:

5% 8/1/08 (b)

4,875

5,114

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

3,000

3,147

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

5,970

6,274

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

7,200

7,779

134th Series, 5% 1/15/39

10,000

10,420

65,379

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

Puerto Rico - 0.6%

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

$ 3,000

$ 3,418

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

2,300

2,515

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

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

1,500

1,692

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

1,000

1,157

8,782

TOTAL INVESTMENT PORTFOLIO - 98.5%

(Cost $1,373,782)

1,433,743

NET OTHER ASSETS - 1.5%

22,469

NET ASSETS - 100%

$ 1,456,212

Legend

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

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

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

Income Tax Information

At April 30, 2005, the aggregate cost of investment securities for income tax purposes was $1,373,549,000. Net unrealized appreciation aggregated $60,194,000, of which $60,921,000 related to appreciated investment securities and $727,000 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

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/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

June 24, 2005

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

By:

/s/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

June 24, 2005

By:

/s/Timothy F. Hayes

Timothy F. Hayes

Chief Financial Officer

Date:

June 24, 2005