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 811-10337

 

Name of Fund: BlackRock New York Municipal Income Trust (BNY)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock New York Municipal Income Trust, 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 07/31/2014

 

Date of reporting period: 04/30/2014

 

Item 1 – Schedule of Investments

 
 
Schedule of Investments April 30, 2014 (Unaudited) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)

 

Municipal Bonds Par
(000)		   Value  

New York — 126.0%

Corporate — 14.7%  
City of New York New York Industrial Development Agency, ARB, American Airlines, Inc., JFK International Airport, AMT (a):          
  7.63%, 8/01/25 $ 3,200 $ 3,512,896  
  7.75%, 8/01/31   4,000   4,401,840  
City of New York New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/28   795   819,406  
County of Chautauqua New York Industrial Development Agency, RB, NRG Dunkirk Power Project, 5.88%, 4/01/42   1,000   1,053,400  
County of Essex New York Industrial Development Agency, RB, International Paper Co. Project, Series A, AMT, 6.63%, 9/01/32   550   611,309  
County of Suffolk New York Industrial Development Agency, RB, KeySpan Generation LLC, Port Jefferson, AMT, 5.25%, 6/01/27   6,000   6,030,900  
New York Liberty Development Corp., RB, Goldman Sachs Headquarters, 5.25%, 10/01/35   5,350   6,105,420  
Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42   1,500   1,508,085  
Port Authority of New York & New Jersey, ARB, Continental Airlines, Inc. & Eastern Air Lines, Inc. Project, LaGuardia, AMT, 9.13%, 12/01/15   3,285   3,352,638  
   
    27,395,894  
 
County/City/Special District/School District — 30.6%  
City of New York New York, GO, Refunding:          
  Series E, 5.50%, 8/01/25   1,280   1,551,898  
  Series E, 5.00%, 8/01/30   1,000   1,116,990  
  Series I, 5.00%, 8/01/30   1,000   1,116,530  
City of New York New York, GO:          
  Series A-1, 5.00%, 8/01/35   1,000   1,096,640  
  Series A-1, Fiscal 2009, 4.75%, 8/15/25   750   846,330  
  Series D, 5.38%, 6/01/32   25   25,104  
             
Municipal Bonds Par
(000)		   Value  

New York (continued)

County/City/Special District/School District (continued)  
City of New York New York, GO (concluded):          
  Sub-Series D-1, 5.00%, 8/01/31 $  690 $ 769,433  
  Sub-Series G-1, 5.00%, 4/01/28   630   709,701  
  Sub-Series G-1, 5.00%, 4/01/29   750   838,200  
  Sub-Series G-1, 6.25%, 12/15/31   500   589,035  
  Sub-Series I-1, 5.38%, 4/01/36   1,750   2,007,057  
City of New York New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC):          
  5.00%, 11/15/35   250   262,590  
  5.00%, 11/15/44   6,495   6,787,470  
  4.75%, 11/15/45   500   503,830  
City of New York New York Housing Development Corp., RB, Fund Grant Program, New York City Housing Authority Program, Series B1:          
  5.25%, 7/01/32   1,140   1,268,786  
  5.00%, 7/01/33   500   540,030  
City of New York New York Industrial Development Agency, RB, PILOT:          
  CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/42 (b)   1,960   467,872  
  CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/45 (b)   1,500   297,810  
  Queens Baseball Stadium (AGC), 6.38%, 1/01/39   150   166,492  
  Queens Baseball Stadium (AMBAC), 5.00%, 1/01/39   3,000   2,945,550  
  Yankee Stadium Project (NPFGC), 4.75%, 3/01/46   480   484,296  
City of New York New York Industrial Development Agency, Refunding ARB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/22   650   709,312  
Hudson Yards Infrastructure Corp., RB, Series A:          
  Senior, Fiscal 2012, 5.75%, 2/15/47   200   222,094  
  5.00%, 2/15/47   5,485   5,594,371  
             
     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 1
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)
Municipal Bonds Par
(000)		   Value  

New York (continued)

County/City/Special District/School District (concluded)  
Hudson Yards Infrastructure Corp., RB, Series A (concluded):          
  (AGC), 5.00%, 2/15/47 $  1,000 $ 1,024,440  
  (AGM), 5.00%, 2/15/47   1,000   1,024,440  
  (NPFGC), 4.50%, 2/15/47   4,500   4,509,270  
Metropolitan Transportation Authority, Refunding RB, Transportation, Series D, 5.00%, 11/15/34   800   856,560  
New York Liberty Development Corp., Refunding RB:          
  2nd Priority, Bank of America Tower at One Bryant Park Project, Class 2, 5.63%, 7/15/47   2,000   2,170,640  
  2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49   1,200   1,305,144  
  4 World Trade Center Project, 5.00%, 11/15/31   860   930,623  
  4 World Trade Center Project, 5.00%, 11/15/44   6,520   6,879,904  
  4 World Trade Center Project, 5.75%, 11/15/51   1,340   1,482,161  
  7 World Trade Center Project, Class 1, 4.00%, 9/15/35   1,935   1,982,253  
  7 World Trade Center Project, Class 2, 5.00%, 9/15/43   1,670   1,750,728  
  7 World Trade Center Project, Class 3, 5.00%, 3/15/44   2,070   2,119,949  
   
    56,953,533  
 
Education — 29.3%  
Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A (c)(d):          
  7.00%, 5/01/25   910   136,555  
  7.00%, 5/01/35   590   88,535  
Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM), 4.63%, 10/01/40   1,100   1,137,609  
Build NYC Resource Corp., RB, Series A:          
  Bronx Charter School For Excellence Project, 5.50%, 4/01/43   900   915,822  
             
Municipal Bonds Par
(000)		   Value  

New York (continued)

Education (continued)  
Build NYC Resource Corp., RB, Series A (concluded):          
  Bronx Charter School For International Cultures & The Arts Project, 5.00%, 4/15/33 $  900 $ 797,013  
City of New York New York Trust for Cultural Resources, RB, Juilliard School, Series A, 5.00%, 1/01/39   750   825,668  
City of New York New York Trust for Cultural Resources, Refunding RB:          
  Carnegie Hall, Series A, 4.75%, 12/01/39   2,000   2,065,260  
  Museum of Modern Art, Series 1A, 5.00%, 4/01/31   1,000   1,109,010  
City of Troy New York Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project, Series A, 5.13%, 9/01/40   3,135   3,296,452  
City of Yonkers New York Industrial Development Agency, RB, Sarah Lawrence College Project, Series A, 6.00%, 6/01/41   625   679,588  
County of Dutchess New York Industrial Development Agency, RB, Bard College Civic Facility, Series A-2, 4.50%, 8/01/36   6,100   5,300,839  
County of Madison New York Capital Resource Corp., Refunding RB, Colgate University Project, Series A, 4.50%, 7/01/39   135   141,506  
County of Madison New York Industrial Development Agency New York, RB, Commons II LLC, Student Housing, Series A (CIFG), 5.00%, 6/01/33   275   278,432  
County of Monroe New York Industrial Development Corp., RB, University of Rochester Project, Series A, 5.00%, 7/01/31   1,900   2,090,627  
County of Monroe New York Industrial Development Corp., Refunding RB, University of Rochester Project, Series A, 5.00%, 7/01/38   320   345,619  
           
     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 2
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)

Municipal Bonds Par
(000)		   Value  

New York (continued)

Education (continued)  
County of Nassau New York Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 4.75%, 3/01/26 $  1,165 $ 1,212,194  
County of Orange New York Funding Corp., Refunding RB, Mount St. Mary College Project, Series A:          
  5.00%, 7/01/37   360   369,940  
  5.00%, 7/01/42   220   223,973  
County of St. Lawrence New York Industrial Development Agency, RB, Clarkson University Project, 5.38%, 9/01/41   750   801,923  
County of Tompkins New York Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33   700   771,218  
Geneva Development Corp., RB, Hobart and William Smith Colleges, 5.25%, 9/01/44   500   542,990  
State of New York Dormitory Authority, RB:          
  Convent of the Sacred Heart (AGM), 5.25%, 11/01/24   155   176,302  
  Convent of the Sacred Heart (AGM), 5.63%, 11/01/32   750   836,393  
  Convent of the Sacred Heart (AGM), 5.75%, 11/01/40   210   232,793  
  Mount Sinai School of Medicine, 5.13%, 7/01/39   2,000   2,092,620  
  New York University, Series 1 (AMBAC), 5.50%, 7/01/40   1,440   1,746,590  
  New York University, Series A (AMBAC), 5.00%, 7/01/37   1,000   1,103,670  
  New York University, Series B, 5.00%, 7/01/37   1,250   1,362,687  
  State University Dormitory Facilities, Series A, 5.00%, 7/01/39   750   792,203  
  State University Dormitory Facilities, Series A, 5.00%, 7/01/41   2,000   2,142,800  
  Teachers College, Series B, 5.00%, 7/01/42   3,225   3,438,430  
  University of Rochester, Series A, 0.00%, 7/01/39 (e)   650   696,053  
  University of Rochester, Series A, 5.13%, 7/01/39   850   952,918  
             
Municipal Bonds Par
(000)		   Value  

New York (continued)

Education (concluded)  
State of New York Dormitory Authority, RB (concluded):          
  University of Rochester, Series B, 5.00%, 7/01/39 $  500 $ 537,400  
State of New York Dormitory Authority, Refunding RB:          
  3rd General Resolution, State University Educational Facilities Issue, Series A, 5.00%, 5/15/29   2,000   2,235,400  
  Brooklyn Law School, 5.75%, 7/01/33   475   505,457  
  Cornell University, Series A, 5.00%, 7/01/40   1,000   1,124,520  
  Culinary Institute of America, 5.00%, 7/01/42   300   308,283  
  Fordham University, 4.00%, 7/01/30   555   567,016  
  Fordham University, 5.00%, 7/01/44   850   921,884  
  New York University, Series A, 5.00%, 7/01/37   1,790   1,951,368  
  Rochester Institute of Technology, 5.00%, 7/01/42   1,790   1,898,223  
  Rockefeller University, Series B, 4.00%, 7/01/38   775   793,430  
  Skidmore College, Series A, 5.00%, 7/01/27   190   213,822  
  Skidmore College, Series A, 5.00%, 7/01/28   75   83,788  
  Skidmore College, Series A, 5.25%, 7/01/29   85   95,906  
  State University Dormitory Facilities, Series A, 5.25%, 7/01/30   2,355   2,679,731  
  State University Dormitory Facilities, Series A, 5.25%, 7/01/32   445   499,303  
  State University Dormitory Facilities, Series A, 5.00%, 7/01/42   895   965,213  
  Teachers College, 5.50%, 3/01/39   450   481,428  
   
    54,566,404  
 
         
     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 3
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)
Municipal Bonds Par
(000)		   Value  

New York (continued)

Health — 16.1%  
County of Dutchess New York Local Development Corp., Refunding RB, Health Quest System, Inc., Series A, 5.75%, 7/01/40 $  300 $ 327,918  
County of Genesee New York Industrial Development Agency, Refunding RB, United Memorial Medical Center Project, 5.00%, 12/01/27   500   500,050  
County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project, Series A, 5.00%, 12/01/32   240   255,492  
County of Monroe New York Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40   1,650   1,872,304  
County of Nassau New York Local Economic Assistance Corp., Refunding RB, Winthrop University Hospital Association Project, 5.00%, 7/01/42   2,750   2,812,755  
County of Suffolk New York Industrial Development Agency, Refunding RB, Jefferson's Ferry Project, 5.00%, 11/01/28   1,175   1,211,766  
County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien:          
  Remarketing, Series A, 5.00%, 11/01/30   2,500   2,629,225  
  Series B, 6.00%, 11/01/30   500   563,775  
County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project:          
  4.00%, 1/01/23   650   652,399  
  5.00%, 1/01/28   675   709,351  
  5.00%, 1/01/34   1,250   1,299,837  
New York State Dormitory Authority, RB, Mental Health Services Facility, Series B (AMBAC):          
  5.00%, 2/15/15 (f)   325   337,373  
  5.00%, 2/15/35   1,675   1,721,984  
State of New York Dormitory Authority, RB:          
  Hudson Valley Hospital (BHAC), 5.00%, 8/15/36   750   809,002  
             
Municipal Bonds Par
(000)		   Value  

New York (continued)

Health (concluded)  
State of New York Dormitory Authority, RB (concluded):          
  New York State Association for Retarded Children, Inc., Series A, 6.00%, 7/01/32 $  500 $ 568,870  
  New York State Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 7/01/32   200   217,042  
  New York University Hospitals Center, Series A, 6.00%, 7/01/40   500   553,585  
  New York University Hospitals Center, Series B, 5.63%, 7/01/37   530   579,995  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.50%, 5/01/37   1,775   1,903,776  
  North Shore-Long Island Jewish Obligated Group, Series D, 4.25%, 5/01/39   1,000   1,001,340  
State of New York Dormitory Authority, Refunding RB:          
  Miriam Osborn Memorial Home Association, 5.00%, 7/01/29   290   305,622  
  Mount Sinai Hospital, Series A, 5.00%, 7/01/26   1,385   1,521,492  
  New York University Hospital Center, Series A, 5.00%, 7/01/36   3,390   3,491,836  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32   1,750   1,866,970  
  North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/41   1,000   1,052,440  
  North Shore-Long Island Jewish Obligated Group, Series E, 5.50%, 5/01/33   1,100   1,187,065  
   
    29,953,264  
 
Housing — 1.0%  
State of New York HFA, RB, M/F Housing, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39   1,500   1,512,705  
           
     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 4
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)
Municipal Bonds Par
(000)		   Value  

New York (continued)

Housing (concluded)  
State of New York Mortgage Agency, Refunding RB, 48th Series, 3.70%, 10/01/38 $  360 $ 338,648  
   
    1,851,353  
 
State — 5.7%  
City of New York New York Transitional Finance Authority, BARB, Series S-2 (NPFGC), 4.25%, 1/15/34   1,260   1,275,700  
State of New York Dormitory Authority, ERB, Series B, 5.75%, 3/15/36   600   698,178  
State of New York Dormitory Authority, RB, General, Purpose, Series C, 5.00%, 3/15/34   2,185   2,434,592  
State of New York Dormitory Authority, Refunding RB:          
  General Purpose Bonds, Series D, 5.00%, 2/15/34   500   549,305  
  School Districts Financing Program, Series A (AGM), 5.00%, 10/01/35   395   427,070  
State of New York Thruway Authority, RB, Transportation, Series A, 5.00%, 3/15/32   320   357,888  
State of New York Thruway Authority, Refunding RB, 2nd General Highway and Bridge Trust, Series A, 5.00%, 4/01/32   3,500   3,862,845  
State of New York Urban Development Corp., RB, State Personal Income Tax, Series C, 5.00%, 3/15/30   885   1,001,351  
   
    10,606,929  
 
Transportation — 17.2%  
Metropolitan Transportation Authority, RB:          
  Series A1, 5.25%, 11/15/33   540   604,001  
  Series C, 6.50%, 11/15/28   1,000   1,197,510  
  Series D, 5.25%, 11/15/41   1,000   1,076,620  
  Series E, 5.00%, 11/15/38   4,000   4,275,320  
  Series H, 5.00%, 11/15/25   325   372,109  
Metropolitan Transportation Authority, Refunding RB:          
  Series D, 5.25%, 11/15/30   910   1,035,061  
  Series F, 5.00%, 11/15/30   2,000   2,202,740  
  Series F (AGM), 4.00%, 11/15/30   1,250   1,280,913  
             
Municipal Bonds Par
(000)		   Value  
Transportation (concluded)
Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC, AMT (NPFGC):          
  Series 6, 5.75%, 12/01/22 $  6,000 $ 6,037,140  
  Series 8, 6.00%, 12/01/42   1,000   1,098,070  
Port Authority of New York & New Jersey, Refunding ARB:          
  179th Series, 5.00%, 12/01/38   575   635,335  
  Consolidated, 147th Series, AMT, 4.75%, 4/15/37   1,330   1,354,578  
  Consolidated, 177th Series, AMT, 4.00%, 1/15/43   1,970   1,872,977  
  Consolidated, 178th Series, AMT, 5.00%, 12/01/43   500   529,255  
Port Authority of New York & New Jersey, Refunding RB, AMT, 5.00%, 12/01/33   750   815,430  
State of New York Thruway Authority, Refunding RB, General, Series I:          
  5.00%, 1/01/27   2,000   2,254,620  
  5.00%, 1/01/37   2,920   3,149,074  
  5.00%, 1/01/42   280   296,803  
Triborough Bridge & Tunnel Authority, Refunding RB:          
  CAB, Sub-Series A, 0.00%, 11/15/32 (b)   845   379,042  
  General, CAB, Series B, 0.00%, 11/15/32 (b)   2,500   1,155,475  
  Sub-Series A, 5.00%, 11/15/30   250   283,825  
   
    31,905,898  
 
Utilities — 11.4%  
City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Series B, 5.00%, 6/15/36   750   802,597  
City of New York New York Municipal Water Finance Authority, Refunding RB:          
  2nd General Resolution, Series EE, 4.00%, 6/15/45   2,310   2,277,498  
  Water & Sewer System, 2nd General Resolution, Fiscal 2011, Series BB, 5.00%, 6/15/31   1,000   1,121,750  
             

 

     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 5
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)
Municipal Bonds Par
(000)		   Value  

New York (concluded)

Utilities (concluded)  
City of New York New York Municipal Water Finance Authority, Refunding RB (concluded):          
  Water & Sewer System, Series A, 4.75%, 6/15/30 $ 1,500 $ 1,643,670  
City of New York New York Water & Sewer System, Refunding RB, Series D, 5.00%, 6/15/39   5,000   5,208,500  
Long Island Power Authority, RB, General, Electric System:          
  Series A (AGM), 5.00%, 5/01/36   500   528,710  
  Series C (CIFG), 5.25%, 9/01/29   2,000   2,352,500  
Long Island Power Authority, Refunding RB, Electric System, Series A, 5.75%, 4/01/39   4,000   4,547,120  
State of New York Environmental Facilities Corp., Refunding RB, Revolving Funds New York City Municipal Water Finance Authority Projects, 2nd General Resolution, Series B, 5.00%, 6/15/36   350   390,072  
Utility Debt Securitization Authority, Refunding RB, Restructuring, Series E, 5.00%, 12/15/41   2,000   2,215,680  
   
    21,088,097  
 
Total Municipal Bonds in New York   234,321,372  
 

Puerto Rico — 1.3%

Housing — 1.3%  
Puerto Rico Housing Finance Authority, Refunding RB, Subordinate, Capital Fund Modernization, 5.13%, 12/01/27   2,500   2,504,950  
 
Total Municipal Bonds — 127.3%   236,826,322  
 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g)

New York — 34.6%

County/City/Special District/School District — 5.5%  
City of New York New York, GO:          
  Series I, 5.00%, 3/01/36   1,500   1,638,780  
  Sub-Series G-1, 5.00%, 4/01/29   4,370   4,883,912  
             
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) Par
(000)		   Value  

New York (continued)

County/City/Special District/School District (concluded)  
City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Fiscal 2012, Sub-Series D-1, 5.00%, 11/01/38 $  825 $ 899,217  
New York Liberty Development Corp., Refunding RB, Liberty, 7 World Trade Center Project, Class 1, 5.00%, 9/15/40   2,610   2,815,799  
   
    10,237,708  
 
Education — 2.1%  
New York City Trust for Cultural Resources, Refunding RB, Series A, 5.00%, 8/01/33   3,527   3,889,339  
 
Housing — 7.6%  
State of New York Mortgage Agency, RB, 31st Series A, AMT, 5.30%, 10/01/31   14,230   14,231,992  
 
State — 2.0%  
City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.25%, 1/15/39   660   732,116  
Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (h)   1,250   1,387,978  
New York State Dormitory Authority, RB, Series C, 5.00%, 3/15/41   1,500   1,610,760  
   
    3,730,854  
 
Transportation — 5.4%  
New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43   6,495   7,010,443  
Port Authority of New York & New Jersey, ARB, Consolidated, 169th Series, AMT, 5.00%, 10/15/26   1,500   1,675,875  
State of New York Thruway Authority, Refunding RB, Transportation, Personal Income Tax, Series A, 5.00%, 3/15/31   1,180   1,320,644  
   
    10,006,962  
 
         

 

     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 6
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
  (Percentages shown are based on Net Assets)
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) Par
(000)		   Value  

New York (concluded)

Utilities — 12.0%  
City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A, 5.75%, 6/15/40 $  1,200 $ 1,374,166  
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System:          
  2nd General Resolution, Fiscal 2011, Series HH, 5.00%, 6/15/32   5,310   5,916,774  
  2nd General Resolution, Fiscal 2012, Series BB, 5.00%, 6/15/44   3,511   3,739,742  
  2nd General Resolution, Series FF-2, 5.50%, 6/15/40   810   917,328  
  Series A, 4.75%, 6/15/30   2,500   2,739,450  
Utility Debt Securitization Authority, Refunding RB, Series E, 5.00%, 12/15/40   6,868   7,608,559  
   
    22,296,019  
 
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts — 34.6%   64,392,874  
 
Total Long-Term Investments
(Cost — $289,511,418) — 161.9%		   301,219,196  
 
         
Short-Term Securities
Shares		   Value  
BIF New York Municipal Money Fund, 0.00% (i)(j)   5,296,339 $ 5,296,339  
 
Total Short-Term Securities
(Cost — $5,296,339) — 2.9%		   5,296,339  
 
Total Investments
(Cost — $294,807,757*) — 164.8%		   306,515,535  
Other Assets Less Liabilities — 5.1%   9,602,921  
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (19.1%)   (35,580,038 )
VMTP Shares, at Liquidation Value — (50.8%)   (94,500,000 )
   
Net Assets Applicable to Common Shares — 100.0% $ 186,038,418  
 
* As of April 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:  
     
Tax cost $ 258,907,952  
Gross unrealized appreciation $ 14,658,974  
Gross unrealized depreciation (2,626,972 )
Net unrealized appreciation $ 12,032,002  
         
 

 

Notes to Schedule of Investments

(a) Variable rate security. Rate shown is as of report date.
(b) Zero-coupon bond.
(c) Non-income producing security.
(d) Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.
(e) Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.
(f) U.S. government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.
(g) Represent bonds transferred to a TOB. In exchange for which the Trust acquired residual interest certificates. These bonds serve as collateral in a financing transaction.
(h) All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire February 15, 2019 is $661,835.
     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 7
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)

 

(i) Investments in issuers considered to be an affiliate of the Trust during the period ended April 30, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
   
     

 

 
  Affiliate   Shares
Held at
July 31, 2013		   Net
Activity		   Shares
Held at
April 30, 2014		 Income  
 
  BIF New York Municipal Money Fund   7,477,704   (2,181,365)   5,296,339 $ 1,032  
 
                                           

 

(j) Represents the current yield as of report date.

 

Portfolio Abbreviations

   
AGC Assured Guarantee Corp.
AGM Assured Guaranty Municipal Corp.
AMBAC American Municipal Bond Assurance Corp.
AMT Alternative Minimum Tax (subject to)
ARB Airport Revenue Bonds
BARB Building Aid Revenue Bonds
BHAC Berkshire Hathaway Assurance Corp.
CAB Capital Appreciation Bonds
CIFG CDC IXIS Financial Guaranty
ERB Education Revenue Bonds
FHA Federal Housing Administration
GO General Obligation Bonds
HFA Housing Finance Agency
M/F Multi-Family
NPFGC National Public Finance Guarantee Corp.
PILOT Payment in Lieu of Taxes
RB Revenue Bonds
SONYMA State of New York Mortgage Agency
     

 


•
Financial futures contracts outstanding as of April 30, 2014 were as follows:

 

 
Contracts
Sold		 Issue Exchange Expiration Notional
Value		   Unrealized
Depreciation		  
(280) 10-Year U.S. Treasury Note Chicago Board of Trade June
2014		 $ 34,838,125 $ (49,709)  
 

 

•For Trust compliance purposes, the Trust’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.
     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 8
           
 
 
Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)
   
•Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:
•Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

•Level 2 — other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

•Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust's own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust's policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of investments and derivative financial instruments, please refer to the Trust's most recent financial statements as contained in its semi-annual report.

The following tables summarize the Trust's investments and derivative financial instruments categorized in the disclosure hierarchy as of April 30, 2014:

 

 
  Level 1   Level 2   Level 3   Total  
 
Assets:    
Investments:  
  Long-Term Investments 1   — $ 301,219,196   — $ 301,219,196  
  Short-Term Securities $ 5,296,339   —   —   5,296,339  
     
Total $ 5,296,339 $ 301,219,196   — $ 306,515,535  
                                 

 

1 See above Schedule of Investments for values in each sector.

 

 
  Level 1   Level 2   Level 3   Total  
 
Derivative Financial Instruments 2  
Liabilities:  
Interest rate contracts $ (49,709)   —   — $ (49,709)  
                               

 

2 Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

 

 

     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 9
           
 
 
Schedule of Investments (concluded) BlackRock New York Municipal Income Trust (BNY)
   

The carrying amount for certain of the Trust's assets and/or liabilities approximates fair value for financial reporting purposes. As of April 30, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
  

 

 
  Level 1   Level 2   Level 3   Total  
 
Assets:    
  Cash pledged for financial futures contracts $ 366,000   —   — $ 366,000  
Liabilities:    
  TOB trust certificates   — $ (35,575,581)   —   (35,575,581)  
  VMTP Shares   —   (94,500,000)   —   (94,500,000)  
   
     
Total $ 366,000 $ (130,075,581)   — $ (129,709,581)  
                                   

 


There were no transfers between levels during the period ended April 30, 2014.

 

     
  BlackRock NEW YORK MUNICIPAL INCOME TRUST April 30, 2014 10
           
 
 

Item 2 – Controls and Procedures
2(a) – The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the ″1940 Act″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3 – Exhibits
  Certifications – Attached hereto
  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.
     
  BlackRock New York Municipal Income Trust
     
  By: /s/ John M. Perlowski
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock New York Municipal Income Trust
     
  Date: June 23, 2014
     
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
     
  By: /s/ John M. Perlowski
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock New York Municipal Income Trust
     
  Date: June 23, 2014
     
  By: /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Municipal Income Trust
     
  Date: June 23, 2014