UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
811-21124 |
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Robert S. Kapito, President
BlackRock New York Municipal Income Trust II
| Registrant's telephone number, including area code: | 888-825-2257 |
| Date of fiscal year end: | August 31 |
| Date of reporting period: | November 30, 2004 |
Item 1. Schedule of Investments.
The registrant's unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS
NOVEMBER 30, 2004 (Unaudited)
BlackRock New York Municipal Income Trust II (BFY)
| Rating1 | ||||||||
| LONG-TERM INVESTMENTS—159.7% | ||||||||
| New York—146.1% | ||||||||
| Aaa | $ 1,750 | Clarence Indl. Dev. Agcy., Civic Fac. Rev., Bristol Vlg. Proj., 6.00%, 1/20/44 | 01/13 @ 102 | $ 1,889,825 | ||||
| AA | 4,000 | Dutchess Cnty. Ind. Dev. Agcy., Civic Facs. Rev., Vassar Coll. Proj., 5.35%, 9/01/40 | 08/11 @ 101 | 4,188,960 | ||||
| BBB | 625 | Essex Cnty. Indl. Dev. Agcy., Sld. Wst. Disp. Rev., Intl. Paper Co. Proj., Ser. A, 5.50%, 10/01/26 | 10/12 @ 100 | 619,463 | ||||
| A | 3,250 | Geneva Indl. Dev. Agcy., Civic Fac. Rev., Hobart & William Smith Proj., Ser. A, | ||||||
| 5.375%, 2/01/33 | 02/13 @ 100 | 3,361,442 | ||||||
| BBB- | 385 | Herkimer Cnty. Indl. Dev. Agcy., Civic Fac. Rev., Coll. Fndtn., Inc. Student Hsg. Proj., | ||||||
| 6.25%, 8/01/34 | 08/13 @ 100 | 389,293 | ||||||
| AAA | 3,515 | Long Island Pwr. Auth., Elec. Sys. Rev., Ser. A, Zero Coupon, 6/01/28, FSA | No Opt. Call | 1,059,526 | ||||
| Met. Transp. Auth., Ser. A, | ||||||||
| AAA | 2,000 | 5.25%, 11/15/31, FGIC | 11/12 @ 100 | 2,074,900 | ||||
| AA- | 5,000 | Ded. Tax Fund, 5.00%, 11/15/30 | 11/12 @ 100 | 5,019,400 | ||||
| AA- | 5,000 | Svc. Contract Rev., 5.125%, 1/01/29 | 07/12 @ 100 | 5,076,600 | ||||
| A | 5,000 | New York City, GO, Ser. B, 5.75%, 12/01/22 | 12/11 @ 100 | 5,471,850 | ||||
| New York City Indl. Dev. Agcy., | ||||||||
| AA+ | 1,000 | Eger Harbor Proj., Ser. A, 4.95%, 11/20/32 | 11/12 @ 101 | 1,005,450 | ||||
| AA+ | 1,000 | Eger Harbor Proj., Ser. A, 5.875%, 5/20/44 | 11/12 @ 105 | 1,102,840 | ||||
| BBB | 4,000 | Indl. Dev. Rev., Empowerment Zone Harlem Mall Proj., 5.125%, 12/30/23 | 07/14 @ 100 | 3,907,080 | ||||
| A | 1,500 | Lycee Francais De Proj., Ser. A, 5.375%, 6/01/23, ACA | 12/12 @ 100 | 1,530,750 | ||||
| AA+ | 5,000 | New York City Mun. Wtr. Fin. Auth., Ser. A, 5.125%, 6/15/34 | 06/12 @ 100 | 5,082,650 | ||||
| AAA | 5,000 3 | New York City Trans. Auth., Met. Transp. Auth., Triborough Brdg. & Tunl. Auth., COP, Ser. A, | ||||||
| 5.25%, 1/01/10, AMBAC | N/A | 5,589,150 | ||||||
| AA+ | 5,000 | New York City Trans. Fin. Auth., Ser. B, 5.00%, 11/01/27 | 11/12 @ 100 | 5,078,150 | ||||
| BBB | 2,535 | New York Cntys. Tobacco Trust III, 6.00%, 6/01/43 | 06/13 @ 100 | 2,457,835 | ||||
| New York Dorm. Auth., | ||||||||
| AAA | 2,500 | Brooklyn Law School Proj., Ser. B, 5.125%, 7/01/30, XLCA | 07/13 @ 100 | 2,561,775 | ||||
| Aa3 | 2,000 | Kateri Residence Proj., 5.00%, 7/01/22 | 07/13 @ 100 | 2,026,380 | ||||
| AA | 5,000 | Memorial Sloan Kettering Ctr. Proj., Ser. 1, 5.00%, 7/01/34 | 07/13 @ 100 | 5,055,400 | ||||
| AA | 2,000 | Mount St. Mary Coll. Proj., 5.00%, 7/01/32, RAA | 07/13 @ 100 | 2,001,300 | ||||
| AAA | 2,425 | New York Univ. Proj., 5.00%, 7/01/31, MBIA | 07/11 @ 100 | 2,447,892 | ||||
| AAA | 2,500 4 | St. Barnabas Proj., Ser. A, 5.00%, 2/01/31, AMBAC | 08/12 @ 100 | 2,526,775 | ||||
| AA- | 5,000 3 | Univ. Dorm. Facs. Proj., 5.00%, 7/01/12 | N/A | 5,530,350 | ||||
| A+ | 5,500 | New York Energy Res. & Dev. Auth., Facs. Rev., 4.70%, 6/01/36 | 10/05 @ 100 | 5,521,560 | ||||
| AA | 5,000 | New York Urban Dev. Corp., Ser. C-1, 5.00%, 3/15/33 | 03/13 @ 100 | 5,029,950 | ||||
| Caa2 | 3,675 | Port Auth. of NY & NJ, Spec. Oblig., Contl./Eastn. LaGuardia Proj., 9.125%, 12/01/15 | 12/04 @ 100 | 3,692,824 | ||||
| A | 2,500 | Suffolk Cnty. Indl. Dev. Agcy., Keyspan Port Jefferson Proj., 5.25%, 6/01/27 | 06/13 @ 100 | 2,530,750 | ||||
| AA | 1,000 | Triborough Brdg. & Tunl. Auth., Ser. A, 5.00%, 1/01/32 | 01/12 @ 100 | 1,005,290 | ||||
| BBB | 9,000 | TSASC, Inc., Tobacco Settlement Rev., Ser. 1, 5.75%, 7/15/32 | 07/12 @ 100 | 8,422,020 | ||||
| 103,257,430 | ||||||||
| Puerto Rico—6.1% | ||||||||
| BBB | 1,400 | Children’s Trust Fund, Tobacco Settlement Rev., 5.625%, 5/15/43 | 05/12 @ 100 | 1,269,464 | ||||
| Puerto Rico Hwy. & Transp. Auth., | ||||||||
| A | 2,000 | Ser. D, 5.375%, 7/01/36 | 07/12 @ 100 | 2,064,560 | ||||
| A | 1,000 | Ser. G, 5.00%, 7/01/42 | 07/13 @ 100 | 986,600 | ||||
| 4,320,624 | ||||||||
| Multi-State—5.9% | ||||||||
| Charter Mac Equity Issuer Trust, | ||||||||
| A3 | 500 5 | Ser. A, 5.75%, 4/30/15 | No Opt. Call | 521,455 | ||||
| A3 | 1,000 5 | Ser. A, 6.00%, 4/30/19 | No Opt. Call | 1,043,170 | ||||
| Baa1 | 1,500 5 | Ser. B, 6.00%, 4/30/15 | No Opt. Call | 1,563,585 | ||||
| Baa1 | 1,000 5 | Ser. B, 6.30%, 4/30/19 | No Opt. Call | 1,047,320 | ||||
| 4,175,530 | ||||||||
| Trust Territories—1.6% | ||||||||
| Ba3 | 1,105 | Northern Mariana Islands Commerce, Ser. A, 6.75%, 10/01/33 | 10/13 @ 100 | 1,118,028 | ||||
| Total Long-Term Investments (cost $110,475,842) | 112,871,612 | |||||||
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BlackRock New York Municipal Income Trust II (BFY) (continued)
| MONEY MARKET FUND—0.6% | ||||||||
| 400 | AIM Tax Free Investment Co. Cash Reserve Portfolio (cost $400,000) | $ 400,000 | ||||||
| Total Investments—160.3% (cost $110,875,842) | $113,271,612 | |||||||
| Other assets in excess of liabilities—2.9% | 2,078,275 | |||||||
| Preferred shares at redemption value, including dividends payable—(63.2)% | (44,659,957) | |||||||
| Net Assets Applicable to Common Shareholders—100% | $ 70,689,930 | |||||||
| 1 | Using the higher of S&P’s, Moody’s or Fitch’s rating. | ||
| 2 | Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. | ||
| 3 | This bond is prefunded.
U.S. government securities, held in escrow, are used to pay interest on this security,
as well as retire the bond in full at the date indicated, typically at a premium to par. |
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| 4 | Entire or partial principal amount pledged as collateral for financial futures contracts. | ||
| 5 | Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of November 30, 2004, the Trust held 5.9% of it nets assets, with a current market value of $4,175,530, in securities restricted as to resale. | ||
| ACA | — American Capital Access | GO | — General Obligation | |
| AMBAC | — American Municipal Bond Assurance Corporation | MBIA | — Municipal Bond Insurance Association | |
| COP | — Certificate of Participation | RAA | — Radian Asset Assurance | |
| FGIC | — Financial Guaranty Insurance Company | XLCA | — XL Capital Assurance | |
| FSA | — Financial Security Assurance | |||
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Item 2. Controls and Procedures.
(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 3. Exhibits.Separate certifications of the registrant's principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
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.
| (Registrant) | BlackRock New York Municipal Income Trust II |
| By: | /s/ Henry Gabbay |
| Name: Henry Gabbay Title: Treasurer Date: January 20, 2005 |
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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/ Robert S. Kapito |
| Name: Robert S. Kapito Title: Principal Executive Officer Date: January 20, 2005 |
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| By: | /s/ Henry Gabbay |
| Name: Henry Gabbay Title: Principal Executive Officer Date: January 20, 2005 |
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