BlackRock New York Municipal Income Trust

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: 07/31/2018

Date of reporting period: 04/30/2018


Item 1 – Schedule of Investments

 


Schedule of Investments  (unaudited)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  

Municipal Bonds 135.5%

 

New York 134.4%  
Corporate 4.4%  

Build NYC Resource Corp., Refunding RB, Pratt Paper, Inc. Project, AMT, 5.00%, 01/01/35(a)

  $ 280     $ 298,754  

City of New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT:

   

5.00%, 07/01/22

    650       710,626  

5.00%, 07/01/28

    795       848,742  

County of Essex New York Industrial Development Agency, RB, International Paper Co. Project, Series A, AMT, 6.63%, 09/01/32

    550       559,411  

County of Onondaga New York Industrial Development Agency, RB, Bristol-Meyers Squibb Co. Project, AMT, 5.75%, 03/01/24

    1,000       1,171,720  

New York Liberty Development Corp., Refunding RB, Goldman Sachs Headquarters, 5.25%, 10/01/35

    2,540       3,100,908  

Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42(a)

    1,500       1,500,900  
   

 

 

 
      8,191,061  
County/City/Special District/School District 26.6%  

City of New York New York, GO, Refunding, Series E:

   

5.50%, 08/01/25

    1,115       1,282,038  

5.00%, 08/01/30

    1,000       1,106,490  

City of New York New York, GO:

   

Series A-1, 4.75%, 08/15/25

    750       756,105  

Series A-1, 5.00%, 08/01/35

    1,000       1,076,500  

Series D, 5.38%, 06/01/32

    25       25,079  

Series G-1, 6.25%, 12/15/31

    15       15,422  

Sub-Series D-1, Fiscal 2014, 5.00%, 08/01/31

    690       768,915  

Sub-Series G-1, 6.25%, 12/15/18(b)

    485       498,284  

Sub-Series G-1, 5.00%, 04/01/28

    630       689,346  

Sub-Series G-1, 5.00%, 04/01/29

    750       820,650  

Sub-Series I-1, 5.38%, 04/01/19(b)

    465       480,080  

Sub-Series I-1, 5.38%, 04/01/36

    65       66,958  

Refunding Series I, 5.00%, 08/01/30

    1,000       1,098,840  
Security   Par
(000)
    Value  
County/City/Special District/School District (continued)  

City of New York New York Convention Center Development Corp., RB, CAB, Sub Lien, Hotel Unit Fee, Series B (AGM), 0.00%, 11/15/55(c)

  $ 2,000     $ 399,120  

City of New York New York Convention Center Development Corp., Refunding RB, Hotel Unit Fee Secured:

   

5.00%, 11/15/40

    2,975       3,314,180  

5.00%, 11/15/45

    3,700       4,103,596  

City of New York New York Industrial Development Agency, RB, PILOT:

   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 03/01/42(c)

    1,960       729,610  

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 03/01/45(c)

    1,500       480,270  

(AMBAC), 5.00%, 01/01/39

    3,000       3,040,200  

Queens Baseball Stadium (AGC), 6.38%, 01/01/39

    150       154,251  

Queens Baseball Stadium (AMBAC), 5.00%, 01/01/46

    175       177,520  

Yankee Stadium Project (NPFGC), 4.75%, 03/01/46

    350       350,228  

Yankee Stadium Project (NPFGC), 5.00%, 03/01/46

    500       502,820  

County of Erie New York Fiscal Stability Authority, RB, Sales Tax and State Aid Secured Refunding Bonds, Series D:

   

5.00%, 09/01/35

    115       133,593  

5.00%, 09/01/36

    105       121,698  

5.00%, 09/01/37

    115       133,187  

5.00%, 09/01/38

    180       207,992  

5.00%, 09/01/39

    140       161,526  

County of Nassau New York, GO:

   

Series A, 5.00%, 01/15/31

    1,000       1,144,730  

Refunding Series B, 5.00%, 04/01/32

    835       952,134  

Hudson Yards Infrastructure Corp., RB, Senior, Fiscal 2012:

   

5.75%, 02/15/21(b)

    125       137,601  

5.75%, 02/15/47

    75       81,096  

Hudson Yards Infrastructure Corp., Refunding RB, Series A:

   

2nd Indenture, 5.00%, 02/15/45

    1,225       1,378,676  

Fiscal 2017, 5.00%, 02/15/42

    2,495       2,814,061  

5.00%, 02/15/37

    215       244,427  
 

 

 

     1  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
County/City/Special District/School District (continued)  

New York Liberty Development Corp., Refunding RB:

   

2nd Priority, Bank of America Tower at One Bryant Park Project, Class 2, 5.63%, 07/15/47

  $ 2,000     $ 2,119,680  

2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 07/15/49

    1,200       1,269,348  

3 World Trade Center Project, Class 2, 5.38%, 11/15/40(a)

    480       522,806  

4 World Trade Center Project, 5.00%, 11/15/31

    860       934,149  

4 World Trade Center Project, 5.00%, 11/15/44

    7,655       8,231,498  

7 World Trade Center Project, Class 1, 4.00%, 09/15/35

    1,935       2,018,089  

7 World Trade Center Project, Class 2, 5.00%, 09/15/43

    1,420       1,527,281  

7 World Trade Center Project, Class 3, 5.00%, 03/15/44

    2,070       2,211,526  

World Trade Center Project, 5.75%, 11/15/51

    1,340       1,485,538  
   

 

 

 
      49,767,138  
Education 29.0%            

Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM),
4.63%, 10/01/20(b)

    1,100       1,169,300  

Build NYC Resource Corp., Refunding RB:

   

City University New York-Queens College Student Residences, LLC Project, Series A, 5.00%, 06/01/38

    250       275,988  

Manhattan College Project, 5.00%, 08/01/35

    525       588,047  

City of New York New York Trust for Cultural Resources, RB, Juilliard School, Series A, 5.00%, 01/01/39

    750       765,345  

City of New York New York Trust for Cultural Resources, Refunding RB:

   

American Museum of Natural History,
Series A, 5.00%, 07/01/37

    225       250,679  

Carnegie Hall, Series A, 4.75%, 12/01/39

    2,000       2,074,640  
Security   Par
(000)
    Value  
Education (continued)  

City of New York New York Trust for Cultural Resources, Refunding RB (continued):

   

Museum of Modern Art, Series 1A, 5.00%, 10/01/18(b)

  $ 1,000     $ 1,013,740  

City of Troy New York Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project:

   

Series A, 5.13%, 09/01/40

    3,135       3,283,756  

Series B, 4.00%, 08/01/35

    470       480,039  

City of Yonkers New York Industrial Development Agency, RB, Sarah Lawrence College Project, Series A, 6.00%, 06/01/19(b)

    625       652,269  

Counties of Buffalo & Erie New York Industrial Land Development Corp., Refunding RB, The Charter School for Applied Technologies Project,
Series A, 5.00%, 06/01/35

    245       258,149  

County of Cattaraugus New York, RB, St. Bonaventure University Project, 5.00%, 05/01/34

    170       184,479  

County of Dutchess New York Industrial Development Agency, RB, Bard College Civic Facility, Series A-2, 4.50%, 08/01/36

    2,155       1,961,847  

County of Dutchess New York Local Development Corp., Refunding RB, Vassar College Project:

   

5.00%, 07/01/42

    395       448,380  

4.00%, 07/01/46

    745       762,210  

County of Monroe New York Industrial Development Corp., RB, University of Rochester Project,
Series A, 5.00%, 07/01/21(b)

    1,900       2,075,693  

County of Monroe New York Industrial Development Corp., Refunding RB:

   

Nazareth College of Rochester Project, 4.00%, 10/01/47

    125       120,961  

University of Rochester Project, Series A, 5.00%, 07/01/23(b)

    320       363,334  

County of Nassau New York Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 4.75%, 03/01/20(b)

    1,165       1,223,355  

County of Orange New York Funding Corp., Refunding RB, Mount St. Mary College Project, Series A:

   

5.00%, 07/01/37

    360       385,495  
 

 

 

2   


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Education (continued)  

County of Orange New York Funding Corp., Refunding RB, Mount St. Mary College Project, Series A (continued):

   

5.00%, 07/01/42

  $ 220     $ 233,902  

County of St. Lawrence New York Industrial Development Agency, RB, Clarkson University Project, 5.38%, 09/01/41

    750       813,960  

County of Tompkins New York Development Corp., RB, Ithaca College Project (AGM), 5.50%, 01/01/21(b)

    700       762,083  

Geneva Development Corp., Refunding RB, Hobart & William Smith Colleges, 5.25%, 09/01/44

    500       553,980  

State of New York Dormitory Authority, RB:

   

Convent of the Sacred Heart (AGM), 5.25%, 11/01/24

    155       169,017  

Convent of the Sacred Heart (AGM), 5.63%, 11/01/32

    750       819,322  

Convent of the Sacred Heart (AGM), 5.75%, 11/01/40

    210       229,908  

New York University Mount Sinai School of Medicine, 5.13%, 07/01/19(b)

    2,000       2,073,620  

New York University, Series 1 (AMBAC), 5.50%, 07/01/40

    1,440       1,850,717  

New York University, Series B, 5.00%, 07/01/37

    1,250       1,373,850  

Series B, 5.75%, 03/15/19(b)

    600       620,550  

State University Dormitory Facilities, Series A, 5.00%, 07/01/19(b)

    750       777,413  

State University Dormitory Facilities, Series A, 5.00%, 07/01/41

    2,000       2,153,660  

Teachers College, Series B, 5.00%, 07/01/42

    1,225       1,323,674  

Touro College & University System, Series A, 5.25%, 01/01/34

    800       878,376  

Touro College & University System, Series A, 5.50%, 01/01/39

    2,000       2,208,280  

University of Rochester, Series A,
5.13%, 07/01/19(b)

    740       768,105  

University of Rochester, Series A,
5.75%, 07/01/19(b)

    565       590,510  

University of Rochester, Series A, 5.13%, 07/01/39

    110       113,919  
Security   Par
(000)
    Value  
Education (continued)  

State of New York Dormitory Authority, RB (continued):

   

University of Rochester, Series A, 5.75%, 07/01/39

  $ 85     $ 88,777  

State of New York Dormitory Authority, Refunding RB:

   

3rd General Resolution, State University Educational Facilities Issue, Series A, 5.00%, 05/15/29

    2,000       2,202,920  

Barnard College, Series A, 5.00%, 07/01/33

    530       598,948  

Brooklyn Law School, 5.75%, 07/01/33

    475       491,692  

Cornell University, Series A, 5.00%, 07/01/40

    800       846,360  

Culinary Institute of America, 5.00%, 07/01/42

    300       321,003  

Fordham University, 5.00%, 07/01/44

    850       933,444  

Icahn School of Medicine at Mount Sinai, Series A, 5.00%, 07/01/35

    1,380       1,514,674  

New York University, Series A, 5.00%, 07/01/37

    1,790       1,967,353  

Rochester Institute of Technology, 5.00%, 07/01/42

    1,790       1,942,222  

Skidmore College, Series A, 5.00%, 07/01/28

    75       81,000  

Skidmore College, Series A, 5.25%, 07/01/29

    85       92,661  

St. John’s University, Series A, 5.00%, 07/01/37

    835       925,430  

State University Dormitory Facilities, Series A, 5.25%, 07/01/30

    2,355       2,664,400  

State University Dormitory Facilities, Series A, 5.25%, 07/01/32

    445       502,774  

State University Dormitory Facilities, Series A, 5.00%, 07/01/46

    810       911,955  

Teachers College, 5.50%, 03/01/19(b)

    450       463,424  

St. John’s Univerisity, Series A, 5.00%, 07/01/34

    250       278,258  

Town of Hempstead New York Local Development Corp., Refunding RB:

   

Adelphi University Project, 5.00%, 10/01/35

    415       461,297  
 

 

 

     3  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Education (continued)  

Town of Hempstead New York Local Development Corp., Refunding RB (continued):

   

Hofstra University Project, 5.00%, 07/01/47

  $ 120     $ 133,802  
   

 

 

 
      54,074,946  
Health 13.1%  

County of Dutchess New York Local Development Corp., RB, Health Quest Systems, Inc., Series B, 4.00%, 07/01/41

    1,580       1,596,400  

County of Dutchess New York Local Development Corp., Refunding RB, Health Quest System, Inc., Series A, 5.75%, 07/01/40

    300       324,630  

County of Genesee New York Industrial Development Agency, Refunding RB, United Memorial Medical Center Project, 5.00%, 12/01/27

    430       430,236  

County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project:

   

4.00%, 12/01/41

    200       198,484  

5.00%, 12/01/46

    320       348,618  

Series A, 5.00%, 12/01/32

    240       259,114  

County of Monroe New York Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 08/15/40

    1,650       1,797,708  

County of Nassau New York Local Economic Assistance Corp., Refunding RB, Winthrop University Hospital Association Project, 5.00%, 07/01/42

    2,800       2,949,072  

County of Suffolk New York EDC, RB, Catholic Health Services, Series C, 5.00%, 07/01/32

    230       250,967  

County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien:

   

Remarketing, Series A, 5.00%, 11/01/30

    3,130       3,335,297  

Series B, 6.00%, 11/01/20(b)

    435       477,178  

Series B, 6.00%, 11/01/30

    65       70,343  

County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project:

   

5.00%, 01/01/28

    675       730,876  
Security   Par
(000)
    Value  
Health (continued)  

County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project (continued):

   

5.00%, 01/01/34

  $ 1,250     $ 1,338,875  

State of New York Dormitory Authority, RB:

   

New York State Association for Retarded Children, Inc., Series A, 6.00%, 07/01/19(b)

    500       523,710  

New York State Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 07/01/19(b)

    200       209,484  

New York University Hospitals Center, Series A, 6.00%, 07/01/20(b)

    500       541,910  

North Shore-Long Island Jewish Obligated Group, Series D, 4.25%, 05/01/39

    500       518,030  

State of New York Dormitory Authority, Refunding RB:

   

Memorial Sloan-Kettering Cancer Center, Series 1, 5.00%, 07/01/42

    915       1,036,329  

Miriam Osborn Memorial Home Association,
5.00%, 07/01/29

    290       298,526  

Mount Sinai Hospital, Series A, 5.00%, 07/01/26

    1,385       1,464,056  

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 05/01/21(b)

    1,000       1,086,240  

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 05/01/21(b)

    1,750       1,900,920  

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 05/01/43

    1,430       1,558,400  
 

 

 

4   


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Health (continued)  

State of New York Dormitory Authority, Refunding RB (continued):

   

North Shore-Long Island Jewish Obligated Group, Series E, 5.50%, 05/01/33

  $ 1,100     $ 1,134,837  
   

 

 

 
      24,380,240  
Housing 2.7%  

City of New York New York Housing Development Corp., RB, M/F Housing, Fund Grant Program, New York City Housing Authority Program, Series B1:

   

5.25%, 07/01/32

    1,140       1,244,698  

5.00%, 07/01/33

    500       538,065  

City of New York New York Housing Development Corp., Refunding RB, M/F Housing, 8 Spruce Street, Class F, 4.50%, 02/15/48

    925       951,779  

County of Onondaga New York Trust for Cultural Resources, Refunding RB, Abby Lane Housing Corporation Project, 5.00%, 05/01/40

    355       389,474  

State of New York HFA, RB:

   

Affordable Housing, Series E (SONYMA), 4.15%, 11/01/47

    495       504,454  

M/F Housing, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 02/15/39

    1,460       1,465,212  
   

 

 

 
      5,093,682  
State 16.7%  

City of New York New York Transitional Finance Authority, RB, Future Tax Secured, 5.00%, 02/01/32

    5,000       5,580,000  

City of New York New York Transitional Finance Authority, Refunding RB, Fiscal 2018:

   

Series S-1, 5.00%, 07/15/35

    505       576,943  

Series S-2, 5.00%, 07/15/35

    505       576,942  

City of New York New York Transitional Finance Authority Future Tax Secured, RB:

   

Fiscal 2012, Sub-Series E-1, 5.00%, 02/01/42

    2,500       2,699,800  

Sub-Series E-1, 5.00%, 02/01/38

    1,850       2,100,712  

Sub-Series F-1, 5.00%, 05/01/38

    1,425       1,622,961  

Sub-Series F-1, 5.00%, 05/01/39

    1,775       2,018,601  
Security   Par
(000)
    Value  
State (continued)  

New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-3, 5.25%, 07/15/36

  $ 665     $ 787,925  

State of New York Dormitory Authority, RB:

   

5.00%, 03/15/30

    1,000       1,167,160  

Bid Group 4, Series A, 5.00%, 03/15/45

    1,160       1,328,072  

General Purpose, Series B, 5.00%, 03/15/42

    4,380       4,742,620  

General Purpose, Series C, 5.00%, 03/15/34

    2,185       2,345,969  

Series A, 5.00%, 03/15/36

    1,360       1,549,163  

Series A, 5.00%, 02/15/42

    1,500       1,690,440  

State of New York Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM), 5.00%, 10/01/18(b)

    395       400,427  

State of New York Urban Development Corp., RB, State Personal Income Tax, Series C:

   

5.00%, 03/15/30

    885       984,527  

5.00%, 03/15/32

    1,000       1,109,080  
   

 

 

 
      31,281,342  
Tobacco 3.4%  

Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A, 6.25%, 06/01/41(a)

    1,000       1,041,400  

Counties of New York Tobacco Trust VI, Refunding RB:

   

Settlement Pass-Through Turbo, Series C, 4.00%, 06/01/51

    1,500       1,390,980  

Tobacco Settlement Pass-Through, Series A-2B, 5.00%, 06/01/51

    1,470       1,526,345  

Tobacco Settlement Pass-Through, Series B, 5.00%, 06/01/45

    130       137,974  

County of Chautauqua New York Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed, 4.75%, 06/01/39

    150       150,860  

County of Niagara New York Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed:

   

5.25%, 05/15/34

    250       269,385  

5.25%, 05/15/40

    110       117,429  

Westchester New York Tobacco Asset Securitization, Refunding RB, Tobacco Settlement Bonds, Sub-Series C, 4.00%, 06/01/42

    745       720,348  
 

 

 

     5  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Tobacco (continued)  

Westchester Tobacco Asset Securitization, Refunding RB, Tobacco Settlement Bonds, Sub-Series C, 5.13%, 06/01/51

  $ 870     $ 888,653  
   

 

 

 
      6,243,374  
Transportation 31.3%  

Buffalo & Fort Erie Public Bridge Authority, RB, Toll Bridge System, 5.00%, 01/01/42

    535       598,751  

Metropolitan Transportation Authority, RB:

   

Series A-1, 5.25%, 11/15/23(b)

    540       624,483  

Series C, 6.50%, 11/15/28

    195       199,982  

Series D, 5.25%, 11/15/21(b)

    220       244,132  

Series E, 5.00%, 11/15/38

    4,000       4,400,960  

Sub-Series A-1, 5.00%, 11/15/45

    715       785,106  

Metropolitan Transportation Authority, Refunding RB:

   

Green Bonds, CAB, Series C-2, 0.00%, 11/15/39(c)

    1,400       596,624  

Green Bonds, Climate Bond Certified, Series B-1, 5.00%, 11/15/34

    735       854,798  

Green Bonds, Climate Bond Certified, Sub-Series B-2, 4.00%, 11/15/34

    750       788,257  

Green Bonds, Series A-1, 5.25%, 11/15/56

    750       840,120  

Series D, 5.25%, 11/15/21(b)

    780       865,558  

Series D, 5.25%, 11/15/23(b)

    910       1,052,369  

Series F, 5.00%, 11/15/30

    2,000       2,207,720  

Series F, 5.00%, 11/15/35

    500       560,905  

Transportation, Series D, 5.00%, 11/15/20(b)

    800       861,112  

Metropolitan Transportation Authority Hudson Rail Yards Trust Obligations, Refunding RB, Series A:

   

5.00%, 11/15/56

    2,695       2,896,802  

5.00%, 11/15/51

    230       243,973  

New York Transportation Development Corp., ARB, LaGuardia Airport Terminal B Redevelopment Project, Series A, AMT:

   

5.00%, 07/01/46

    3,115       3,332,676  

5.25%, 01/01/50

    4,445       4,806,112  

(AGM), 4.00%, 07/01/41

    800       809,568  
Security   Par
(000)
    Value  
Transportation (continued)  

New York Transportation Development Corp., Refunding ARB, American Airlines, Inc., AMT, 5.00%, 08/01/31

  $ 2,305     $ 2,416,631  

Port Authority of New York & New Jersey, ARB, JFK International Air Terminal LLC, Special Project, AMT (NPFGC):

   

Series 6, 5.75%, 12/01/22

    6,000       6,299,400  

Series 8, 6.00%, 12/01/42

    1,000       1,093,480  

Port Authority of New York & New Jersey, Refunding ARB:

   

178th Series, AMT, 5.00%, 12/01/33

    750       824,107  

179th Series, 5.00%, 12/01/38

    575       640,239  

Consolidated, 177th Series, AMT, 4.00%, 01/15/43

    640       646,810  

Consolidated, 178th Series, AMT, 5.00%, 12/01/43

    500       545,115  

Consolidated, 195th Series, AMT, 5.00%, 04/01/36

    750       834,825  

State of New York Thruway Authority, RB, Junior Lien, Series A, 5.25%, 01/01/56

    920       1,031,964  

State of New York Thruway Authority, Refunding RB, General:

   

2nd Highway & Bridge Trust, Series A, 5.00%, 04/01/32

    2,500       2,747,275  

Series I, 5.00%, 01/01/27

    1,000       1,092,850  

Series I, 5.00%, 01/01/37

    1,760       1,901,522  

Series I, 5.00%, 01/01/42

    280       301,602  

Series J, 5.00%, 01/01/41

    2,000       2,186,140  

Series K, 5.00%, 01/01/32

    2,575       2,893,785  

Triborough Bridge & Tunnel Authority, RB:

   

Series A, 5.00%, 11/15/42

    1,000       1,136,900  

Series B, 5.00%, 11/15/40

    350       395,636  

Series B, 5.00%, 11/15/45

    310       348,868  

Triborough Bridge & Tunnel Authority, Refunding RB, General:

   

CAB, Series B, 0.00%, 11/15/32(c)

    1,700       1,020,765  

MTA Bridges & Tunnels, Series C-2, 5.00%, 11/15/42

    1,245       1,423,508  

Series A, 5.25%, 11/15/45

    590       672,429  
 

 

 

6   


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Transportation (continued)  

Triborough Bridge & Tunnel Authority, Refunding RB, General (continued):

   

Series A, 5.00%, 11/15/50

  $ 500     $ 549,680  
   

 

 

 
      58,573,539  
Utilities 7.2%  

City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution:

   

Fiscal 2011, Series BB, 5.00%, 06/15/31

    1,000       1,062,140  

Fiscal 2015, Series HH, 5.00%, 06/15/39

    1,000       1,117,130  

Long Island Power Authority, RB, General, Electric Systems:

   

5.00%, 09/01/42

    490       551,794  

Series A (AGM), 5.00%, 05/01/21(b)

    500       543,120  

Series C (CIFG), 5.25%, 09/01/29

    2,000       2,393,040  

Long Island Power Authority, Refunding RB, Electric System:

   

Series A, 5.75%, 04/01/19(b)

    4,000       4,141,400  

Series B, 5.00%, 09/01/41

    200       223,498  

Series B, 5.00%, 09/01/46

    250       278,605  

State of New York Environmental Facilities Corp., RB, Green Bond, Series C, 5.00%, 08/15/36

    525       608,606  

State of New York Environmental Facilities Corp., Refunding RB, Revolving Funds, New York City Municipal Water, Series B, 5.00%, 06/15/36

    350       378,830  

Utility Debt Securitization Authority, Refunding RB, Restructuring, Series E, 5.00%, 12/15/41

    2,000       2,232,760  
   

 

 

 
      13,530,923  
   

 

 

 

Total Municipal Bonds in New York

 

    251,136,245  
   

 

 

 
Puerto Rico 1.1%            
Tobacco — 1.1%            

Children’s Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds, 5.63%, 05/15/43

    2,220       2,123,008  
   

 

 

 

Total Municipal Bonds — 135.5%
(Cost — $243,349,422)

 

    253,259,253  
   

 

 

 
Security   Par
(000)
    Value  

Municipal Bonds Transferred to Tender Option Bond Trusts(d)

 

New York 30.0%  
County/City/Special District/School District 10.2%  

City of New York, GO:

   

Sub-Series G-1, 5.00%, 04/01/29

  $ 4,370     $ 4,779,119  

Sub-Series I-1, 5.00%, 03/01/36

    1,500       1,666,808  

City of New York Convention Center Development Corp., Refunding RB, Hotel Unit Fee Secured, 5.00%, 11/15/32

    1,200       1,359,060  

Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 06/15/18(e)

    1,250       1,364,315  

New York Liberty Development Corp., ARB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43

    6,495       7,075,991  

New York Liberty Development Corp., Refunding RB, 7 World Trade Center Project, Class 1, 5.00%, 09/15/40

    2,610       2,846,892  
   

 

 

 
      19,092,185  
Education 2.1%  

City of New York New York Trust for Cultural Resources, Refunding RB, Wildlife Conservation Society, Series A, 5.00%, 08/01/33

    3,527       3,905,049  
   

 

 

 
State 2.7%  

City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.25%, 01/15/39

    660       674,734  

City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D-1, 5.00%, 11/01/38

    825       890,926  

Sales Tax Asset Receivable Corp., Refunding RB, Fiscal 2015, Series A:

   

5.00%, 10/15/31

    750       852,427  

4.00%, 10/15/32

    1,000       1,078,960  

State of New York Dormitory Authority, RB, General Purpose, Series C, 5.00%, 03/15/41

    1,500       1,605,885  
   

 

 

 
      5,102,932  
Transportation 3.3%  

Port Authority of New York & New Jersey, Refunding ARB:

   

194th Series, 5.25%, 10/15/55

    1,455       1,628,441  

Consolidated, Series 169th, 5.00%, 10/15/26

    1,500       1,617,225  
 

 

 

     7  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Transportation (continued)  

State of New York Thruway Authority, Refunding RB, Transportation, Personal Income Tax, Series A, 5.00%, 03/15/31

  $ 1,180     $ 1,281,589  

Triborough Bridge & Tunnel Authority, Refunding RB, General, Series A, 5.00%, 11/15/46

    1,500       1,678,695  
   

 

 

 
      6,205,950  
Utilities 11.7%  

City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A:

   

5.75%, 06/15/18(b)

    276       276,910  

5.75%, 06/15/40

    923       926,001  

City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution:

   

Fiscal 2011, Series HH, 5.00%, 06/15/32

    5,310       5,723,684  

Fiscal 2012, Series BB, 5.00%, 06/15/44

    3,511       3,798,909  

Series FF-2, 5.50%, 06/15/40

    810       842,495  

Security

  Par
(000)
    Value  
Utilities (continued)  

Utility Debt Securitization Authority, Refunding RB:

   

5.00%, 12/15/41

  $ 6,868     $ 7,659,878  

Restructuring, 5.00%, 12/15/36

    1,997       2,274,468  

Restructuring, Series B, 4.00%, 12/15/35

    370       390,343  
   

 

 

 
      21,892,688  
   

 

 

 

Total Municipal Bonds Transferred to Tender
Option Bond Trusts — 30.0%
(Cost — $53,969,206)

 

    56,198,804  
   

 

 

 

Total Long-Term Investments — 165.5%
(Cost — $297,318,628)

 

    309,458,057  
   

 

 

 
     Shares         
Short-Term Securities 0.3%  

BlackRock Liquidity Funds, MuniCash, Institutional Class, 1.48%(f)(g)

    530,860       530,860  
   

 

 

 

Total Short-Term Securities — 0.3%
(Cost — $530,860)

 

    530,860  
   

 

 

 

Total Investments — 165.8%
(Cost — $297,849,488)

 

    309,988,917  

Other Assets Less Liabilities — 2.0%

 

    3,616,708  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (17.2)%

 

    (32,174,645

VMTP Shares at Liquidation Value — (50.6)%

 

    (94,500,000
   

 

 

 

Net Assets Applicable to Common Shares — 100.0%

 

  $ 186,930,980  
   

 

 

 
 
(a)  Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b)  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.
(c)  Zero-coupon bond.
(d)  Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing.
(e)  All or a portion of security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreement, which expires on February 15, 2019, is $661,933.
(f)  Annualized 7-day yield as of period end.

 

 

8   


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

 

(g)  During the period ended April 30, 2018, investments in issuers considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated    Shares
Held at
07/31/17
     Net
Activity
     Shares
Held at
04/30/18
     Value at
04/30/18
     Income      Net
Realized
Gain (Loss) 
(a)
     Change in
Unrealized
Appreciation
(Depreciation)
 

BlackRock Liquidity Funds, MuniCash, Institutional Class

     2,541,341        (2,010,481      530,860      $ 530,860      $ 12,622      $ (40    $ (239
           

 

 

    

 

 

    

 

 

    

 

 

 

 

  (a)  Includes net capital gain distributions, if applicable.  

For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

Description    Number of
Contracts
       Expiration
Date
       Notional
Amount (000)
       Value/
Unrealized
Appreciation
(Depreciation)
 

Short Contracts:

                 

10-Year U.S. Treasury Note

     33          06/20/18        $ 3,948        $ 26,453  

Long U.S. Treasury Bond

     47          06/20/18          6,761          (11,105

5-Year U.S. Treasury Note

     32          06/29/18          3,632          18,103  
                 

 

 

 
                  $ 33,451  
                 

 

 

 

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

CAB — Capital Appreciation Bonds

CIFG — CIFG Assurance North America, Inc.

EDC — Economic Development Corp.

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

 

 

     9  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

BlackRock New York Municipal Income Trust (BNY)

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value 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 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 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. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value 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 investments and derivative financial instruments 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, 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:

 

      Level 1        Level 2        Level 3        Total  

Assets:

                 

Investments:

                 

Long-Term Investments(a)

   $        $ 309,458,057        $        $ 309,458,057  

Short-Term Securities

     530,860                            530,860  
  

 

 

      

 

 

      

 

 

      

 

 

 
   $ 530,860        $ 309,458,057        $        $ 309,988,917  
  

 

 

      

 

 

      

 

 

      

 

 

 

Derivative Financial Instruments(b)

                 

Assets:

                 

Interest rate contracts

   $ 44,556        $        $        $ 44,556  

Liabilities:

                 

Interest rate contracts

     (11,105                          (11,105
  

 

 

      

 

 

      

 

 

      

 

 

 
   $ 33,451        $        $        $ 33,451  
  

 

 

      

 

 

      

 

 

      

 

 

 

 

  (a)  See above Schedule of Investments for values in each sector.  
  (b)  Derivative financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.  

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

      Level 1        Level 2        Level 3        Total  

Liabilities:

                 

TOB Trust Certificates

   $        $ (32,047,199      $        $ (32,047,199

VMTP Shares at Liquidation Value

              (94,500,000                 (94,500,000
  

 

 

      

 

 

      

 

 

      

 

 

 
   $        $ (126,547,199      $        $ (126,547,199
  

 

 

      

 

 

      

 

 

      

 

 

 

During the period ended April 30, 2018, there were no transfers between levels.

 

 

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 18, 2018

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 18, 2018

 

By:       /s/ Neal J. Andrews                     
 

Neal J. Andrews

  Chief Financial Officer (principal financial officer) of
  BlackRock New York Municipal Income Trust

Date: June 18, 2018