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, 2006

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® New York Municipal
Income Fund

October 31, 2006

NFY-QTLY-1206

1.809090.102

Investments October 31, 2006 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 98.9%

Principal Amount (000s)

Value
(000s)

Guam - 0.1%

Guam Wtrwks. Auth. Wtr. and Wastewtr. Sys. Rev. 6% 7/1/25

$ 1,100

$ 1,207

New York - 95.2%

Albany Indl. Dev. Agcy. Civic Facility Rev. (College of Saint Rose Proj.) Series A, 5.5% 7/1/21 (AMBAC Insured)

2,300

2,477

Battery Park City Auth. Rev. Series A:

5.25% 11/1/16

2,000

2,199

5.25% 11/1/17

1,400

1,539

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

(Bard College Civic Facility Proj.):

5.5% 8/1/20

4,190

4,479

5.75% 8/1/30

9,475

10,203

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

7,000

7,475

Erie County Gen. Oblig. Series A:

5% 9/1/15 (FGIC Insured)

2,625

2,811

5% 9/1/16 (FGIC Insured)

1,680

1,794

5% 9/1/17 (FGIC Insured)

1,000

1,068

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

Series 2003:

5.75% 5/1/17 (FSA Insured)

8,940

9,862

5.75% 5/1/19 (FSA Insured)

1,500

1,652

5.75% 5/1/20 (FSA Insured)

1,400

1,541

5.75% 5/1/21 (FSA Insured)

1,755

1,929

5.75% 5/1/22 (FSA Insured)

4,900

5,377

5.75% 5/1/23 (FSA Insured)

1,000

1,096

Series 2004:

5.75% 5/1/17 (FSA Insured)

5,950

6,775

5.75% 5/1/23 (FSA Insured)

9,620

10,860

5.75% 5/1/26 (FSA Insured)

5,500

6,190

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

3,485

3,787

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

1,000

1,075

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

7,000

7,241

Long Island Pwr. Auth. New York Elec. Sys. Rev.:

Series A, 5.25% 12/1/20 (FGIC Insured)

17,780

19,653

Series B, 5% 12/1/35

3,000

3,168

Series C, 5% 9/1/35

5,000

5,286

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

$ 14,908

Metropolitan Trans. Auth. Rev.:

Series A:

5.125% 11/15/31

12,150

12,816

5.5% 11/15/15 (AMBAC Insured)

1,340

1,482

5.5% 11/15/16 (AMBAC Insured)

1,000

1,106

5.5% 11/15/17 (AMBAC Insured)

1,000

1,106

5.5% 11/15/18 (AMBAC Insured)

1,700

1,880

5.5% 11/15/18 (AMBAC Insured)

2,000

2,318

5.5% 11/15/19 (FGIC Insured)

5,000

5,822

5.5% 11/15/20 (FSA Insured)

8,635

10,097

5.75% 11/15/32

10,000

11,020

Series B:

5.25% 11/15/18 (FGIC Insured)

4,000

4,358

5.25% 11/15/32

5,000

5,351

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

2,200

2,419

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

3,000

3,236

Metropolitan Trans. Auth. Svc. Contract Rev.:

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

695

723

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

3,025

3,307

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

3,000

3,002

Series A:

5.5% 1/1/20 (MBIA Insured)

8,000

8,742

5.5% 7/1/20 (MBIA Insured)

3,000

3,278

Series B:

5.5% 7/1/19 (MBIA Insured)

3,000

3,285

5.5% 7/1/23 (MBIA Insured)

5,000

5,466

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

1,000

1,060

Monroe County Gen. Oblig. 6.5% 6/1/07 (AMBAC Insured)

50

51

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

(Highland Hosp. Proj.):

5% 8/1/11

1,510

1,571

5% 8/1/13

1,650

1,743

(Nazareth College Rochester Proj.) 5.25% 10/1/21 (MBIA Insured)

1,000

1,072

Nassau County Gen. Oblig. Series U, 5.25% 11/1/15 (AMBAC Insured)

2,150

2,193

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series 2001 A, 5.875% 11/1/11

$ 145

$ 151

Series 2001 B, 5.875% 11/1/11

1,000

1,048

Series 2001 C, 5.625% 11/1/10

620

638

Series 2001 D, 5.625% 11/1/10

1,225

1,295

Nassau County Interim Fin. Auth. Series A, 5% 11/15/18 (AMBAC Insured)

4,875

5,230

New York City Gen. Oblig.:

Series 1998 H, 5.5% 8/1/12

8,065

8,362

Series 2000 A, 6.5% 5/15/11

455

501

Series 2002 A, 5.75% 8/1/14

5,000

5,542

Series 2002 B, 5.75% 8/1/15

3,500

3,872

Series 2002 C, 5.5% 8/1/13

10,500

11,514

Series 2003 A:

5.5% 8/1/14

3,205

3,538

5.5% 8/1/20 (MBIA Insured)

7,000

7,741

Series 2003 C, 5.25% 8/1/10

5,050

5,330

Series 2003 E:

5.25% 8/1/11

5,000

5,341

5.25% 8/1/14

3,390

3,692

Series 2003 F:

5.5% 12/15/10

1,000

1,070

5.5% 12/15/11

3,700

4,013

Series 2003 J, 5.5% 6/1/20 (AMBAC Insured)

17,265

19,054

Series 2004 B, 5.25% 8/1/15

9,855

10,819

Series 2005 C, 5% 8/1/11

5,015

5,303

Series 2005 F, 5.25% 8/1/12

2,000

2,137

Series 2005 G:

5% 8/1/15

8,200

8,907

5.25% 8/1/16

9,000

9,992

5.625% 8/1/13 (MBIA Insured)

3,000

3,301

Series 2005 J, 5% 3/1/13

2,500

2,674

Series A:

5.25% 11/1/14 (MBIA Insured)

1,350

1,462

6.25% 8/1/08

1,000

1,017

Series B:

5.75% 8/1/14

3,000

3,325

6.5% 8/15/11

1,000

1,121

7.5% 2/1/07

335

336

Series C, 5.75% 3/15/27 (Pre-Refunded to 3/15/12
@ 100) (c)

935

1,037

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series D, 5.25% 8/1/13

$ 1,740

$ 1,775

Series G, 5.25% 8/1/14 (AMBAC Insured)

1,635

1,754

Series H:

5.75% 3/15/13 (FSA Insured)

1,805

1,978

6% 8/1/17

345

354

Series J:

5.5% 6/1/18 (MBIA Insured)

5,000

5,527

5.5% 6/1/19

3,000

3,291

6.125% 8/1/12

60

62

Subseries 2005 F1, 5.25% 9/1/14

3,000

3,294

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

5.5% 2/15/16 (FSA Insured)

2,605

2,838

5.5% 2/15/17 (FSA Insured)

3,000

3,267

5.5% 2/15/18 (FSA Insured)

2,500

2,722

5.5% 2/15/19 (FSA Insured)

1,250

1,361

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

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

1,090

1,176

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

3,255

3,405

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

2,070

2,093

New York City Indl. Dev. Agcy. Spl. Facilities Rev. (Terminal One Group Assoc. Proj.) 5% 1/1/08 (b)

3,735

3,784

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

Series 2001 C, 5.125% 6/15/33

3,960

4,177

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

16,500

17,399

Series 7A, 4.75% 6/15/37

2,500

2,560

Series A:

5% 6/15/32

5,000

5,177

5.125% 6/15/34 (MBIA Insured)

4,200

4,429

5.25% 6/15/33 (FGIC Insured)

1,280

1,355

5.375% 6/15/15

9,650

10,519

5.375% 6/15/15 (FGIC Insured)

7,000

7,649

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

145

145

Series E:

5% 6/15/34

2,000

2,089

5% 6/15/38

2,975

3,104

Series G:

5.125% 6/15/32

3,000

3,141

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

$ 4,983

New York City Trust Cultural Resources Rev. (Museum of Modern Art Proj.) Series 2001 D, 5.125% 7/1/31 (AMBAC Insured)

3,200

3,392

New York Convention Ctr. Dev. Corp. Rev. 5% 11/15/44 (AMBAC Insured)

48,000

50,564

New York State Dorm. Auth. Lease Rev.:

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

10,000

10,932

Series A, 5.25% 5/15/10

3,440

3,621

New York State Dorm. Auth. Revs.:

(Champlain Valley Physicians Proj.):

6% 7/1/09 (AMBAC Insured)

370

392

6% 7/1/10 (AMBAC Insured)

250

270

(City Univ. Sys. Consolidation Proj.):

Series A:

5.75% 7/1/13

6,000

6,564

5.75% 7/1/13 (AMBAC Insured)

3,000

3,289

Series C, 7.5% 7/1/10

4,995

5,366

(Colgate Univ. Proj.):

6% 7/1/16 (MBIA Insured)

1,900

2,222

6% 7/1/21 (MBIA Insured)

2,500

3,022

(Court Facilities Lease Proj.) Series A, 5.5% 5/15/21 (AMBAC Insured)

10,000

11,714

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

8,000

8,229

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

2,175

1,901

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

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

10

10

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

15

15

(Mental Health Svcs. Proj.) Series 2005 A, 5.75% 8/15/11

900

923

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

5.8% 8/1/30

2,920

3,177

5.85% 8/1/40

9,500

10,318

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

315

316

(New York City Gen. Oblig. Proj.):

Series A, 5.5% 5/15/28 (AMBAC Insured)

2,700

3,263

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

(New York City Gen. Oblig. Proj.):

Series B, 6% 7/1/14

$ 2,635

$ 2,891

(New York Univ. Hosp. Ctr. Proj.) Series A:

5% 7/1/13

1,130

1,165

5% 7/1/14

2,510

2,591

(New York Univ. Proj.):

Series 1, 5.5% 7/1/40 (AMBAC Insured)

3,000

3,727

Series 2:

5.5% 7/1/17 (AMBAC Insured)

755

812

5.5% 7/1/19 (AMBAC Insured)

1,705

1,828

5.5% 7/1/20 (AMBAC Insured)

860

922

Series A:

5.75% 7/1/15 (MBIA Insured)

2,295

2,644

5.75% 7/1/27 (MBIA Insured)

11,000

13,441

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

1,500

1,692

(Ref. Ed. Proj.) Series B, 5.5% 3/15/22 (AMBAC Insured)

7,025

8,261

(School District Fing. Prog.):

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

10,825

11,923

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

1,485

1,637

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

2,600

2,871

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

500

559

(State Univ. Edl. Facilities Proj.):

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

8,855

9,737

Series B, 7.5% 5/15/11

1,550

1,719

(The Jamaica Hosp. Proj.) Series F:

5.1% 2/15/12 (MBIA Insured)

3,605

3,729

5.2% 2/15/13 (MBIA Insured)

6,585

6,818

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

10,090

11,890

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

6% 7/1/14

1,095

1,202

6% 7/1/15

1,160

1,270

6% 7/1/16

1,230

1,345

(Yeshiva Univ. Proj.) Series 2001:

5.375% 7/1/13 (AMBAC Insured)

800

860

5.375% 7/1/14 (AMBAC Insured)

1,130

1,216

5.375% 7/1/16 (AMBAC Insured)

670

721

5.375% 7/1/17 (AMBAC Insured)

370

398

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 1,135

$ 1,260

Series 2000 C, 5.75% 5/15/17 (FSA Insured)

3,000

3,510

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

30,260

33,441

Series 2002 B:

6% 10/1/22 (MBIA Insured)

2,775

3,095

6% 10/1/29 (MBIA Insured)

5,600

6,225

Series 2005 B:

5.25% 7/1/20 (MBIA Insured)

3,345

3,682

5.25% 7/1/21 (MBIA Insured)

1,745

1,917

5.25% 7/1/22 (MBIA Insured)

1,835

2,011

Series A, 5.5% 5/15/20 (AMBAC Insured)

13,000

15,141

Series B:

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

10,400

11,194

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

11,000

12,192

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

543

Series C:

5.25% 7/15/16

2,340

2,547

5.25% 7/15/17

2,410

2,622

Series D:

5% 6/15/20

20,150

21,414

5.125% 6/15/31

6,900

7,330

5.375% 6/15/19

5,250

5,711

Series G, 5.25% 10/15/20

1,255

1,346

(New York City Muni. Wtr. Fin. Proj.) 5% 6/15/34

2,025

2,139

(Pooled Fing. Prog.):

Series F:

5.25% 11/15/15

2,595

2,830

5.25% 11/15/16

3,770

4,107

Series I:

5.25% 9/15/15

2,085

2,270

5.25% 9/15/17

2,395

2,592

Series 2004 D, 5% 2/15/34

12,150

12,847

Series B:

5.5% 10/15/20

3,805

4,469

5.5% 10/15/21

3,985

4,692

Series C:

5% 6/15/19

815

839

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series C:

5.25% 6/15/16

$ 3,500

$ 3,748

Series F:

4.875% 6/15/18

1,735

1,783

4.875% 6/15/20

2,175

2,232

5% 6/15/15

1,295

1,335

5.25% 6/15/13

1,575

1,631

Series I, 5% 6/15/24

2,000

2,118

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

5.25% 1/1/21 (FGIC Insured)

4,785

5,157

5.375% 1/1/16 (FGIC Insured)

2,170

2,379

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

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

Series A, 7% 6/15/12

190

190

Series C, 5.85% 7/15/15

30

30

Series E, 6.5% 6/15/14

130

130

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

1,115

1,233

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

1,105

1,187

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

5.25% 9/15/16 (MBIA Insured)

1,780

1,952

5.25% 9/15/20

2,685

2,894

5.25% 3/15/21

2,230

2,399

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

Series A, 5.25% 11/15/40

25,860

27,141

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

75

76

New York State Thruway Auth. Gen. Rev.:

Series 2005 G, 5.25% 1/1/27 (FSA Insured)

4,370

4,790

Series E, 5.25% 1/1/12

4,695

4,831

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

Series 05B, 5% 4/1/17 (FGIC Insured)

14,300

15,609

Series B, 5.5% 4/1/20 (AMBAC Insured)

20,040

23,318

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

5.5% 4/1/14

11,700

12,796

5.5% 4/1/15

6,200

6,768

5.5% 4/1/16

3,665

3,991

6% 4/1/11

1,605

1,652

New York State Urban Dev. Corp. Correctional Youth Facilities Svc. Series A, 5.5%, tender 1/1/11 (a)

2,025

2,163

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Urban Dev. Corp. Rev.:

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

5.5% 3/15/19 (MBIA Insured)

$ 1,230

$ 1,424

5.5% 3/15/22 (MBIA Insured)

15,000

17,639

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

23,000

26,907

New York Transitional Fin. Auth. Rev.:

Series 2002 A, 5.375% 11/15/21

3,850

4,181

Series 2003 D:

5% 2/1/31

20,025

20,963

5.25% 2/1/17 (MBIA Insured)

9,385

10,173

5.25% 2/1/19 (MBIA Insured)

8,075

8,706

Series 2003 E:

5.25% 2/1/15 (FGIC Insured)

7,250

7,892

5.25% 2/1/17 (FGIC Insured)

5,975

6,476

Series 2004 C:

5% 2/1/33 (FGIC Insured)

7,350

7,770

5.25% 2/1/14

6,000

6,606

Series A:

5.5% 11/15/17 (FGIC Insured)

6,725

7,439

5.5% 11/15/20 (FGIC Insured)

3,800

4,184

5.75% 2/15/16

85

92

Series B:

5% 8/1/32

5,000

5,248

5.25% 8/1/19

3,000

3,262

5.375% 2/1/15

3,000

3,267

Series C, 5.375% 2/1/17

1,000

1,078

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

5,000

5,394

Niagara Falls City Niagara County Pub. Impt.:

7.5% 3/1/08 (Escrowed to Maturity) (c)

85

89

7.5% 3/1/08 (MBIA Insured)

910

957

7.5% 3/1/10 (Escrowed to Maturity) (c)

95

107

7.5% 3/1/10 (MBIA Insured)

1,060

1,188

7.5% 3/1/11 (Escrowed to Maturity) (c)

105

122

7.5% 3/1/11 (MBIA Insured)

1,140

1,315

7.5% 3/1/16 (Escrowed to Maturity) (c)

90

117

7.5% 3/1/16 (MBIA Insured)

970

1,246

7.5% 3/1/17 (Escrowed to Maturity) (c)

100

132

7.5% 3/1/17 (MBIA Insured)

1,100

1,441

Niagara Falls Pub. Wtr. Auth. 5.5% 7/15/34 (XL Cap. Assurance, Inc. Insured)

1,000

1,119

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

4,055

4,417

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

$ 1,095

$ 1,134

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

4,581

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

1,130

1,204

Tobacco Settlement Fing. Corp.:

Series A1:

5.25% 6/1/21 (AMBAC Insured)

3,255

3,508

5.25% 6/1/22 (AMBAC Insured)

5,300

5,705

5.5% 6/1/14

13,125

13,740

5.5% 6/1/15

6,700

7,107

5.5% 6/1/16

17,500

18,564

5.5% 6/1/17

7,000

7,520

5.5% 6/1/18 (MBIA Insured)

3,000

3,268

Series B1:

5% 6/1/10

1,760

1,833

5% 6/1/11

1,525

1,603

Series C1:

5% 6/1/11

3,280

3,283

5.5% 6/1/14

3,000

3,141

5.5% 6/1/15

11,800

12,517

5.5% 6/1/16

10,000

10,764

5.5% 6/1/17

3,000

3,223

5.5% 6/1/18

3,800

4,130

5.5% 6/1/19

8,000

8,785

5.5% 6/1/20

16,000

17,530

5.5% 6/1/21

10,000

10,938

5.5% 6/1/22

9,700

10,592

Triborough Bridge & Tunnel Auth. Revs.:

6,215

6,571

(Convention Ctr. Proj.) Series E, 7.25% 1/1/10 (XL Cap. Assurance, Inc. Insured)

1,100

1,178

Series 2002 A, 5.25% 1/1/19

1,100

1,178

Series 2005 A, 5.125% 1/1/22

5,290

5,610

Series A:

5% 1/1/32

3,010

3,121

5% 1/1/32 (MBIA Insured)

1,455

1,521

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Triborough Bridge & Tunnel Auth. Revs.: - continued

Series B:

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

$ 2,000

$ 2,300

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

2,000

2,300

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

5,015

5,817

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

825

857

Series Y:

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

1,000

1,121

6.125% 1/1/21 (Escrowed to Maturity) (c)

3,200

3,913

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

5,000

5,105

1,367,838

New York & New Jersey - 2.8%

Port Auth. of New York & New Jersey:

124th Series, 5% 8/1/13 (FGIC Insured) (b)

3,000

3,082

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

5,970

6,327

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

7,200

7,705

134th Series, 5% 1/15/39

10,000

10,534

Series 85, 5.375% 3/1/28

6,205

7,142

Port Auth. of New York & New Jersey Spl. Oblig. Rev. (JFK Int'l. Air Term. Spl. Proj.) Series 6, 6.25% 12/1/15 (MBIA Insured) (b)

5,000

5,870

40,660

Puerto Rico - 0.8%

Puerto Rico Commonwealth Hwy. & Trans. Auth. Trans. Rev.:

Series 1998, 5.75% 7/1/22 (CIFG North America Insured)

3,000

3,330

Series L, 5.25% 7/1/41 (CIFG North America Insured)

2,385

2,835

Puerto Rico Commonwealth Infrastructure Fing. Auth. Series C, 5.5% 7/1/27 (AMBAC Insured)

1,000

1,197

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

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

1,500

1,644

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

Puerto Rico - continued

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

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

$ 1,000

$ 1,142

Puerto Rico Muni. Fin. Agcy. Series 2005 C, 5.25% 8/1/17 (FSA Insured)

1,000

1,128

11,276

TOTAL INVESTMENT PORTFOLIO - 98.9%

(Cost $1,385,282)

1,420,981

NET OTHER ASSETS - 1.1%

16,448

NET ASSETS - 100%

$ 1,437,429

Swap Agreements

Expiration Date

Notional Amount (000s)

Value (000s)

Interest Rate Swaps

Receive quarterly a floating rate based on BMA Municipal Swap Index and pay quarterly a fixed rate equal to 3.947% with JPMorgan Chase, Inc.

May 2037

$ 3,000

$ -

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 October 31, 2006, the aggregate cost of investment securities for income tax purposes was $1,385,145,000. Net unrealized appreciation aggregated $35,836,000, of which $37,026,000 related to appreciated investment securities and $1,190,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange, normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the fund uses independent pricing services approved by the Board of Trustees to value its investments. Debt securities, including restricted securities, for which quotes are readily available, are valued by independent pricing services or by dealers who make markets in such securities. Pricing services consider yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices. Swaps are marked-to-market daily based on dealer-supplied valuations. When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. The frequency of when fair value pricing is used is unpredictable. The value of securities used for NAV calculation under fair value pricing may differ from published prices for the same securities. Investments in open-end mutual funds are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

For additional information on the fund's policy regarding valuation of investments and other significant accounting policies, please refer to the fund's most recent semiannual or annual shareholder report.

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, 2006

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

ASNM-QTLY-1206

1.809540.102

Investments October 31, 2006 (Unaudited)

Showing Percentage of Net Assets

Municipal Bonds - 98.9%

Principal Amount (000s)

Value
(000s)

Guam - 0.1%

Guam Wtrwks. Auth. Wtr. and Wastewtr. Sys. Rev. 6% 7/1/25

$ 1,100

$ 1,207

New York - 95.2%

Albany Indl. Dev. Agcy. Civic Facility Rev. (College of Saint Rose Proj.) Series A, 5.5% 7/1/21 (AMBAC Insured)

2,300

2,477

Battery Park City Auth. Rev. Series A:

5.25% 11/1/16

2,000

2,199

5.25% 11/1/17

1,400

1,539

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

(Bard College Civic Facility Proj.):

5.5% 8/1/20

4,190

4,479

5.75% 8/1/30

9,475

10,203

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

7,000

7,475

Erie County Gen. Oblig. Series A:

5% 9/1/15 (FGIC Insured)

2,625

2,811

5% 9/1/16 (FGIC Insured)

1,680

1,794

5% 9/1/17 (FGIC Insured)

1,000

1,068

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

Series 2003:

5.75% 5/1/17 (FSA Insured)

8,940

9,862

5.75% 5/1/19 (FSA Insured)

1,500

1,652

5.75% 5/1/20 (FSA Insured)

1,400

1,541

5.75% 5/1/21 (FSA Insured)

1,755

1,929

5.75% 5/1/22 (FSA Insured)

4,900

5,377

5.75% 5/1/23 (FSA Insured)

1,000

1,096

Series 2004:

5.75% 5/1/17 (FSA Insured)

5,950

6,775

5.75% 5/1/23 (FSA Insured)

9,620

10,860

5.75% 5/1/26 (FSA Insured)

5,500

6,190

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

3,485

3,787

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

1,000

1,075

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

7,000

7,241

Long Island Pwr. Auth. New York Elec. Sys. Rev.:

Series A, 5.25% 12/1/20 (FGIC Insured)

17,780

19,653

Series B, 5% 12/1/35

3,000

3,168

Series C, 5% 9/1/35

5,000

5,286

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

$ 14,908

Metropolitan Trans. Auth. Rev.:

Series A:

5.125% 11/15/31

12,150

12,816

5.5% 11/15/15 (AMBAC Insured)

1,340

1,482

5.5% 11/15/16 (AMBAC Insured)

1,000

1,106

5.5% 11/15/17 (AMBAC Insured)

1,000

1,106

5.5% 11/15/18 (AMBAC Insured)

1,700

1,880

5.5% 11/15/18 (AMBAC Insured)

2,000

2,318

5.5% 11/15/19 (FGIC Insured)

5,000

5,822

5.5% 11/15/20 (FSA Insured)

8,635

10,097

5.75% 11/15/32

10,000

11,020

Series B:

5.25% 11/15/18 (FGIC Insured)

4,000

4,358

5.25% 11/15/32

5,000

5,351

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

2,200

2,419

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

3,000

3,236

Metropolitan Trans. Auth. Svc. Contract Rev.:

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

695

723

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

3,025

3,307

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

3,000

3,002

Series A:

5.5% 1/1/20 (MBIA Insured)

8,000

8,742

5.5% 7/1/20 (MBIA Insured)

3,000

3,278

Series B:

5.5% 7/1/19 (MBIA Insured)

3,000

3,285

5.5% 7/1/23 (MBIA Insured)

5,000

5,466

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

1,000

1,060

Monroe County Gen. Oblig. 6.5% 6/1/07 (AMBAC Insured)

50

51

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

(Highland Hosp. Proj.):

5% 8/1/11

1,510

1,571

5% 8/1/13

1,650

1,743

(Nazareth College Rochester Proj.) 5.25% 10/1/21 (MBIA Insured)

1,000

1,072

Nassau County Gen. Oblig. Series U, 5.25% 11/1/15 (AMBAC Insured)

2,150

2,193

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series 2001 A, 5.875% 11/1/11

$ 145

$ 151

Series 2001 B, 5.875% 11/1/11

1,000

1,048

Series 2001 C, 5.625% 11/1/10

620

638

Series 2001 D, 5.625% 11/1/10

1,225

1,295

Nassau County Interim Fin. Auth. Series A, 5% 11/15/18 (AMBAC Insured)

4,875

5,230

New York City Gen. Oblig.:

Series 1998 H, 5.5% 8/1/12

8,065

8,362

Series 2000 A, 6.5% 5/15/11

455

501

Series 2002 A, 5.75% 8/1/14

5,000

5,542

Series 2002 B, 5.75% 8/1/15

3,500

3,872

Series 2002 C, 5.5% 8/1/13

10,500

11,514

Series 2003 A:

5.5% 8/1/14

3,205

3,538

5.5% 8/1/20 (MBIA Insured)

7,000

7,741

Series 2003 C, 5.25% 8/1/10

5,050

5,330

Series 2003 E:

5.25% 8/1/11

5,000

5,341

5.25% 8/1/14

3,390

3,692

Series 2003 F:

5.5% 12/15/10

1,000

1,070

5.5% 12/15/11

3,700

4,013

Series 2003 J, 5.5% 6/1/20 (AMBAC Insured)

17,265

19,054

Series 2004 B, 5.25% 8/1/15

9,855

10,819

Series 2005 C, 5% 8/1/11

5,015

5,303

Series 2005 F, 5.25% 8/1/12

2,000

2,137

Series 2005 G:

5% 8/1/15

8,200

8,907

5.25% 8/1/16

9,000

9,992

5.625% 8/1/13 (MBIA Insured)

3,000

3,301

Series 2005 J, 5% 3/1/13

2,500

2,674

Series A:

5.25% 11/1/14 (MBIA Insured)

1,350

1,462

6.25% 8/1/08

1,000

1,017

Series B:

5.75% 8/1/14

3,000

3,325

6.5% 8/15/11

1,000

1,121

7.5% 2/1/07

335

336

Series C, 5.75% 3/15/27 (Pre-Refunded to 3/15/12
@ 100) (c)

935

1,037

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York City Gen. Oblig.: - continued

Series D, 5.25% 8/1/13

$ 1,740

$ 1,775

Series G, 5.25% 8/1/14 (AMBAC Insured)

1,635

1,754

Series H:

5.75% 3/15/13 (FSA Insured)

1,805

1,978

6% 8/1/17

345

354

Series J:

5.5% 6/1/18 (MBIA Insured)

5,000

5,527

5.5% 6/1/19

3,000

3,291

6.125% 8/1/12

60

62

Subseries 2005 F1, 5.25% 9/1/14

3,000

3,294

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

5.5% 2/15/16 (FSA Insured)

2,605

2,838

5.5% 2/15/17 (FSA Insured)

3,000

3,267

5.5% 2/15/18 (FSA Insured)

2,500

2,722

5.5% 2/15/19 (FSA Insured)

1,250

1,361

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

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

1,090

1,176

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

3,255

3,405

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

2,070

2,093

New York City Indl. Dev. Agcy. Spl. Facilities Rev. (Terminal One Group Assoc. Proj.) 5% 1/1/08 (b)

3,735

3,784

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

Series 2001 C, 5.125% 6/15/33

3,960

4,177

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

16,500

17,399

Series 7A, 4.75% 6/15/37

2,500

2,560

Series A:

5% 6/15/32

5,000

5,177

5.125% 6/15/34 (MBIA Insured)

4,200

4,429

5.25% 6/15/33 (FGIC Insured)

1,280

1,355

5.375% 6/15/15

9,650

10,519

5.375% 6/15/15 (FGIC Insured)

7,000

7,649

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

145

145

Series E:

5% 6/15/34

2,000

2,089

5% 6/15/38

2,975

3,104

Series G:

5.125% 6/15/32

3,000

3,141

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

$ 4,983

New York City Trust Cultural Resources Rev. (Museum of Modern Art Proj.) Series 2001 D, 5.125% 7/1/31 (AMBAC Insured)

3,200

3,392

New York Convention Ctr. Dev. Corp. Rev. 5% 11/15/44 (AMBAC Insured)

48,000

50,564

New York State Dorm. Auth. Lease Rev.:

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

10,000

10,932

Series A, 5.25% 5/15/10

3,440

3,621

New York State Dorm. Auth. Revs.:

(Champlain Valley Physicians Proj.):

6% 7/1/09 (AMBAC Insured)

370

392

6% 7/1/10 (AMBAC Insured)

250

270

(City Univ. Sys. Consolidation Proj.):

Series A:

5.75% 7/1/13

6,000

6,564

5.75% 7/1/13 (AMBAC Insured)

3,000

3,289

Series C, 7.5% 7/1/10

4,995

5,366

(Colgate Univ. Proj.):

6% 7/1/16 (MBIA Insured)

1,900

2,222

6% 7/1/21 (MBIA Insured)

2,500

3,022

(Court Facilities Lease Proj.) Series A, 5.5% 5/15/21 (AMBAC Insured)

10,000

11,714

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

8,000

8,229

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

2,175

1,901

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

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

10

10

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

15

15

(Mental Health Svcs. Proj.) Series 2005 A, 5.75% 8/15/11

900

923

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

5.8% 8/1/30

2,920

3,177

5.85% 8/1/40

9,500

10,318

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

315

316

(New York City Gen. Oblig. Proj.):

Series A, 5.5% 5/15/28 (AMBAC Insured)

2,700

3,263

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

(New York City Gen. Oblig. Proj.):

Series B, 6% 7/1/14

$ 2,635

$ 2,891

(New York Univ. Hosp. Ctr. Proj.) Series A:

5% 7/1/13

1,130

1,165

5% 7/1/14

2,510

2,591

(New York Univ. Proj.):

Series 1, 5.5% 7/1/40 (AMBAC Insured)

3,000

3,727

Series 2:

5.5% 7/1/17 (AMBAC Insured)

755

812

5.5% 7/1/19 (AMBAC Insured)

1,705

1,828

5.5% 7/1/20 (AMBAC Insured)

860

922

Series A:

5.75% 7/1/15 (MBIA Insured)

2,295

2,644

5.75% 7/1/27 (MBIA Insured)

11,000

13,441

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

1,500

1,692

(Ref. Ed. Proj.) Series B, 5.5% 3/15/22 (AMBAC Insured)

7,025

8,261

(School District Fing. Prog.):

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

10,825

11,923

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

1,485

1,637

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

2,600

2,871

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

500

559

(State Univ. Edl. Facilities Proj.):

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

8,855

9,737

Series B, 7.5% 5/15/11

1,550

1,719

(The Jamaica Hosp. Proj.) Series F:

5.1% 2/15/12 (MBIA Insured)

3,605

3,729

5.2% 2/15/13 (MBIA Insured)

6,585

6,818

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

10,090

11,890

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

6% 7/1/14

1,095

1,202

6% 7/1/15

1,160

1,270

6% 7/1/16

1,230

1,345

(Yeshiva Univ. Proj.) Series 2001:

5.375% 7/1/13 (AMBAC Insured)

800

860

5.375% 7/1/14 (AMBAC Insured)

1,130

1,216

5.375% 7/1/16 (AMBAC Insured)

670

721

5.375% 7/1/17 (AMBAC Insured)

370

398

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

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

$ 1,135

$ 1,260

Series 2000 C, 5.75% 5/15/17 (FSA Insured)

3,000

3,510

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

30,260

33,441

Series 2002 B:

6% 10/1/22 (MBIA Insured)

2,775

3,095

6% 10/1/29 (MBIA Insured)

5,600

6,225

Series 2005 B:

5.25% 7/1/20 (MBIA Insured)

3,345

3,682

5.25% 7/1/21 (MBIA Insured)

1,745

1,917

5.25% 7/1/22 (MBIA Insured)

1,835

2,011

Series A, 5.5% 5/15/20 (AMBAC Insured)

13,000

15,141

Series B:

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

10,400

11,194

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

11,000

12,192

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

543

Series C:

5.25% 7/15/16

2,340

2,547

5.25% 7/15/17

2,410

2,622

Series D:

5% 6/15/20

20,150

21,414

5.125% 6/15/31

6,900

7,330

5.375% 6/15/19

5,250

5,711

Series G, 5.25% 10/15/20

1,255

1,346

(New York City Muni. Wtr. Fin. Proj.) 5% 6/15/34

2,025

2,139

(Pooled Fing. Prog.):

Series F:

5.25% 11/15/15

2,595

2,830

5.25% 11/15/16

3,770

4,107

Series I:

5.25% 9/15/15

2,085

2,270

5.25% 9/15/17

2,395

2,592

Series 2004 D, 5% 2/15/34

12,150

12,847

Series B:

5.5% 10/15/20

3,805

4,469

5.5% 10/15/21

3,985

4,692

Series C:

5% 6/15/19

815

839

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

Series C:

5.25% 6/15/16

$ 3,500

$ 3,748

Series F:

4.875% 6/15/18

1,735

1,783

4.875% 6/15/20

2,175

2,232

5% 6/15/15

1,295

1,335

5.25% 6/15/13

1,575

1,631

Series I, 5% 6/15/24

2,000

2,118

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

5.25% 1/1/21 (FGIC Insured)

4,785

5,157

5.375% 1/1/16 (FGIC Insured)

2,170

2,379

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

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

Series A, 7% 6/15/12

190

190

Series C, 5.85% 7/15/15

30

30

Series E, 6.5% 6/15/14

130

130

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

1,115

1,233

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

1,105

1,187

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

5.25% 9/15/16 (MBIA Insured)

1,780

1,952

5.25% 9/15/20

2,685

2,894

5.25% 3/15/21

2,230

2,399

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

Series A, 5.25% 11/15/40

25,860

27,141

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

75

76

New York State Thruway Auth. Gen. Rev.:

Series 2005 G, 5.25% 1/1/27 (FSA Insured)

4,370

4,790

Series E, 5.25% 1/1/12

4,695

4,831

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

Series 05B, 5% 4/1/17 (FGIC Insured)

14,300

15,609

Series B, 5.5% 4/1/20 (AMBAC Insured)

20,040

23,318

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

5.5% 4/1/14

11,700

12,796

5.5% 4/1/15

6,200

6,768

5.5% 4/1/16

3,665

3,991

6% 4/1/11

1,605

1,652

New York State Urban Dev. Corp. Correctional Youth Facilities Svc. Series A, 5.5%, tender 1/1/11 (a)

2,025

2,163

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

New York State Urban Dev. Corp. Rev.:

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

5.5% 3/15/19 (MBIA Insured)

$ 1,230

$ 1,424

5.5% 3/15/22 (MBIA Insured)

15,000

17,639

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

23,000

26,907

New York Transitional Fin. Auth. Rev.:

Series 2002 A, 5.375% 11/15/21

3,850

4,181

Series 2003 D:

5% 2/1/31

20,025

20,963

5.25% 2/1/17 (MBIA Insured)

9,385

10,173

5.25% 2/1/19 (MBIA Insured)

8,075

8,706

Series 2003 E:

5.25% 2/1/15 (FGIC Insured)

7,250

7,892

5.25% 2/1/17 (FGIC Insured)

5,975

6,476

Series 2004 C:

5% 2/1/33 (FGIC Insured)

7,350

7,770

5.25% 2/1/14

6,000

6,606

Series A:

5.5% 11/15/17 (FGIC Insured)

6,725

7,439

5.5% 11/15/20 (FGIC Insured)

3,800

4,184

5.75% 2/15/16

85

92

Series B:

5% 8/1/32

5,000

5,248

5.25% 8/1/19

3,000

3,262

5.375% 2/1/15

3,000

3,267

Series C, 5.375% 2/1/17

1,000

1,078

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

5,000

5,394

Niagara Falls City Niagara County Pub. Impt.:

7.5% 3/1/08 (Escrowed to Maturity) (c)

85

89

7.5% 3/1/08 (MBIA Insured)

910

957

7.5% 3/1/10 (Escrowed to Maturity) (c)

95

107

7.5% 3/1/10 (MBIA Insured)

1,060

1,188

7.5% 3/1/11 (Escrowed to Maturity) (c)

105

122

7.5% 3/1/11 (MBIA Insured)

1,140

1,315

7.5% 3/1/16 (Escrowed to Maturity) (c)

90

117

7.5% 3/1/16 (MBIA Insured)

970

1,246

7.5% 3/1/17 (Escrowed to Maturity) (c)

100

132

7.5% 3/1/17 (MBIA Insured)

1,100

1,441

Niagara Falls Pub. Wtr. Auth. 5.5% 7/15/34 (XL Cap. Assurance, Inc. Insured)

1,000

1,119

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

4,055

4,417

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

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

$ 1,095

$ 1,134

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

4,581

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

1,130

1,204

Tobacco Settlement Fing. Corp.:

Series A1:

5.25% 6/1/21 (AMBAC Insured)

3,255

3,508

5.25% 6/1/22 (AMBAC Insured)

5,300

5,705

5.5% 6/1/14

13,125

13,740

5.5% 6/1/15

6,700

7,107

5.5% 6/1/16

17,500

18,564

5.5% 6/1/17

7,000

7,520

5.5% 6/1/18 (MBIA Insured)

3,000

3,268

Series B1:

5% 6/1/10

1,760

1,833

5% 6/1/11

1,525

1,603

Series C1:

5% 6/1/11

3,280

3,283

5.5% 6/1/14

3,000

3,141

5.5% 6/1/15

11,800

12,517

5.5% 6/1/16

10,000

10,764

5.5% 6/1/17

3,000

3,223

5.5% 6/1/18

3,800

4,130

5.5% 6/1/19

8,000

8,785

5.5% 6/1/20

16,000

17,530

5.5% 6/1/21

10,000

10,938

5.5% 6/1/22

9,700

10,592

Triborough Bridge & Tunnel Auth. Revs.:

6,215

6,571

(Convention Ctr. Proj.) Series E, 7.25% 1/1/10 (XL Cap. Assurance, Inc. Insured)

1,100

1,178

Series 2002 A, 5.25% 1/1/19

1,100

1,178

Series 2005 A, 5.125% 1/1/22

5,290

5,610

Series A:

5% 1/1/32

3,010

3,121

5% 1/1/32 (MBIA Insured)

1,455

1,521

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

New York - continued

Triborough Bridge & Tunnel Auth. Revs.: - continued

Series B:

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

$ 2,000

$ 2,300

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

2,000

2,300

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

5,015

5,817

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

825

857

Series Y:

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

1,000

1,121

6.125% 1/1/21 (Escrowed to Maturity) (c)

3,200

3,913

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

5,000

5,105

1,367,838

New York & New Jersey - 2.8%

Port Auth. of New York & New Jersey:

124th Series, 5% 8/1/13 (FGIC Insured) (b)

3,000

3,082

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

5,970

6,327

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

7,200

7,705

134th Series, 5% 1/15/39

10,000

10,534

Series 85, 5.375% 3/1/28

6,205

7,142

Port Auth. of New York & New Jersey Spl. Oblig. Rev. (JFK Int'l. Air Term. Spl. Proj.) Series 6, 6.25% 12/1/15 (MBIA Insured) (b)

5,000

5,870

40,660

Puerto Rico - 0.8%

Puerto Rico Commonwealth Hwy. & Trans. Auth. Trans. Rev.:

Series 1998, 5.75% 7/1/22 (CIFG North America Insured)

3,000

3,330

Series L, 5.25% 7/1/41 (CIFG North America Insured)

2,385

2,835

Puerto Rico Commonwealth Infrastructure Fing. Auth. Series C, 5.5% 7/1/27 (AMBAC Insured)

1,000

1,197

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

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

1,500

1,644

Municipal Bonds - continued

Principal Amount (000s)

Value
(000s)

Puerto Rico - continued

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

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

$ 1,000

$ 1,142

Puerto Rico Muni. Fin. Agcy. Series 2005 C, 5.25% 8/1/17 (FSA Insured)

1,000

1,128

11,276

TOTAL INVESTMENT PORTFOLIO - 98.9%

(Cost $1,385,282)

1,420,981

NET OTHER ASSETS - 1.1%

16,448

NET ASSETS - 100%

$ 1,437,429

Swap Agreements

Expiration Date

Notional Amount (000s)

Value (000s)

Interest Rate Swaps

Receive quarterly a floating rate based on BMA Municipal Swap Index and pay quarterly a fixed rate equal to 3.947% with JPMorgan Chase, Inc.

May 2037

$ 3,000

$ -

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 October 31, 2006, the aggregate cost of investment securities for income tax purposes was $1,385,145,000. Net unrealized appreciation aggregated $35,836,000, of which $37,026,000 related to appreciated investment securities and $1,190,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange, normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the fund uses independent pricing services approved by the Board of Trustees to value its investments. Debt securities, including restricted securities, for which quotes are readily available, are valued by independent pricing services or by dealers who make markets in such securities. Pricing services consider yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices. Swaps are marked-to-market daily based on dealer-supplied valuations. When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. The frequency of when fair value pricing is used is unpredictable. The value of securities used for NAV calculation under fair value pricing may differ from published prices for the same securities. Investments in open-end mutual funds are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

For additional information on the fund's policy regarding valuation of investments and other significant accounting policies, please refer to the fund's most recent semiannual or annual shareholder report.

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/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

December 20, 2006

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:

December 20, 2006

By:

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer

Date:

December 20, 2006