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: | 811-21124 |
BlackRock
New York Municipal Income Trust II |
(Exact name of registrant as specified in charter) |
100
Bellevue Parkway, Wilmington, DE |
19809 |
|
(Address of
principal executive offices) |
(Zip code) |
Robert S. Kapito, President |
|
BlackRock New York Municipal Income Trust II |
40 East 52nd Street, New York, NY 10022 |
(Name and address of agent for service) |
Registrant's telephone number, including area code: | 888-825-2257 |
Date of fiscal year end: | August
31, 2007 |
Date of reporting period: | May
31, 2007 |
Item 1. Schedule of Investments.
The Registrants 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 (unaudited)
MAY 31, 2007
BlackRock New York Municipal Income Trust II (BFY)
(Percentages shown are based on Net Assets)
Principal | |||||||
Amount | Option Call | ||||||
(000) |
Description | Provisions1 |
Value |
||||
LONG-TERM INVESTMENTS156.1% | |||||||
Multi-State5.7% | |||||||
Charter Mac Equity Issuer Trust, | |||||||
$ 500 | 2 | Ser. A, 5.75%, 4/30/15 | No Opt. Call |
$ | 533,335 | ||
1,000 | 2 | Ser. A, 6.00%, 4/30/19 | No Opt. Call |
1,099,110 | |||
1,500 | 2 | Ser. B, 6.00%, 4/30/15 | No Opt. Call |
1,602,615 | |||
1,000 | 2 | Ser. B, 6.30%, 4/30/19 | No Opt. Call |
1,067,330 | |||
4,302,390 | |||||||
New York145.7% | |||||||
Albany Indl. Dev. Agcy., Sch. Impvts. Lease Approp. RB, New Covenant Charter Sch. Proj., | |||||||
345 | 3 | Ser. A, 7.00%, 5/01/25 | 05/15 @ 102 |
341,157 | |||
220 | 3 | Ser. A, 7.00%, 5/01/35 | 05/15 @ 102 |
214,458 | |||
4,000 | 4 | City of New York, Recreational Fac. Impvts. Hotel Occupancy Tax GO, Ser. B, 5.75%, 12/01/11 | N/A |
4,316,400 |
|||
1,715 | Clarence Indl. Dev. Agcy., Ind. Impvts. RB, Bristol Vlg., Inc. Proj., 6.00%, 1/20/44 | 01/13 @ 102 |
1,883,447 | ||||
2,535 | Cntys. Tobacco Trust III, Misc. Tobacco Settlement Funded RB, 6.00%, 6/01/43 | 06/13 @ 100 |
2,726,266 | ||||
3,000 | Convention Ctr. Operating Corp., Recreational Fac. Impvts. Hotel Occupancy Tax RB, 5.00%, 11/15/35, AMBAC | 11/15 @ 100 |
3,134,520 | ||||
Dorm. Auth., | |||||||
2,000 | Hlth., Hosp. & Nursing Home RB, Kateri Residence Proj., 5.00%, 7/01/22 | 07/13 @ 100 |
2,069,840 | ||||
1,500 | Hlth., Hosp. & Nursing Home RB, St. Barnabas Hosp. Proj., Ser. A, 5.00%, 2/01/31 | 08/12 @ 100 |
1,554,420 | ||||
2,500 | Univ. & Coll. Impvts. RB, Brooklyn Law Sch. Proj., Ser. B, 5.125%, 7/01/30, XLCA | 07/13 @ 100 |
2,606,575 | ||||
2,000 | Univ. & Coll. Impvts. RB, Mount St. Mary Coll. Proj., 5.00%, 7/01/32, RAA | 07/13 @ 100 |
2,061,220 | ||||
2,425 | Univ. & Coll. Impvts. RB, New Sch. Univ. Proj., 5.00%, 7/01/31, MBIA | 07/11 @ 100 |
2,487,856 | ||||
4,000 | 4 | Dutchess Cnty. Ind. Dev. Agcy., Univ. & Coll. Impvts. Lease RB, Vassar Coll. Proj., 5.35%, 8/01/11 | N/A |
4,262,360 | |||
5,500 | Energy Research & Dev. Auth., Elec., Pwr. & Lt. Impvts. RB, Cons. Edison Co. Proj., 4.70%, 6/01/36, AMT | 07/07 @ 100 |
5,501,430 | ||||
Essex Cnty. Indl. Dev. Agcy., | |||||||
650 | Indl. Impvts. RB, Intl. Paper Co. Proj., Ser. A, 4.60%, 12/01/30, AMT | 12/11 @ 100 |
619,125 | ||||
625 | Indl. RB, Intl. Paper Co. Proj., Ser. A, 5.50%, 10/01/26, AMT | 10/12 @ 100 |
646,512 | ||||
250 | Genesee Cnty. Indl. Dev. Agcy., Hlth., Hosp. & Nursing Home RB, United Mem. Med. Ctr. Proj., 5.00%, 12/01/27 | 12/12 @ 100 |
246,845 | ||||
3,250 | Geneva Indl. Dev. Agcy., Uni. & Coll. Impvts. RB, Hobart & Williams Smith Proj., Ser. A, 5.375%, 2/01/33 | 02/13 @ 100 |
3,423,842 | ||||
500 | Hempstead Town Indl. Dev. Agcy., Univ. & Coll. Impvts. RB, Hofstra Univ. Civic Fac. Proj., 4.50%, 7/01/36 | 07/17 @
100 |
483,060 | ||||
385 | Herkimer Cnty. Indl. Dev. Agcy., Univ. & Coll. Impvts. RB, Herkimer Coll. Fndtn. Proj., 6.25%, 8/01/34 | 08/13 @
100 |
414,888 | ||||
4,500 | Hudson Yards Infrastructure Corp., Trans. Impvts. Misc. RB, Ser. A, 4.50%, 2/15/47, MBIA | 02/17 @ 100 |
4,360,545 | ||||
Liberty Dev. Corp., | |||||||
3,000 | Indl. Impvts. Misc. RB, Goldman Sachs Group, Inc. Proj., 5.25%, 10/01/35 | No Opt. Call |
3,332,340 | ||||
675 | Recreational Fac. Impvts. RB, Nat. Sports Museum Proj., Ser. A, 6.125%, 2/15/19 | 02/16 @ 100 |
706,232 | ||||
Long Island Pwr. Auth., Elec., Pwr. & Lt. RB, | |||||||
3,515 | Ser. A, Zero Coupon, 6/01/28, FSA | No Opt. Call |
1,367,054 | ||||
1,000 | Ser. B, 5.00%, 12/01/35, CIFG | 06/16 @ 100 |
1,045,710 | ||||
Met. Transp. Auth., | |||||||
5,000 | Misc. RB, Ser. A, 5.125%, 1/01/29 | 07/12 @ 100 |
5,191,000 | ||||
5,000 | Trans. RB, Ser. A, 5.00%, 11/15/30 | 11/12 @ 100 |
5,151,350 | ||||
2,000 | Trans. RB, Ser. A, 5.25%, 11/15/31, FGIC | 11/12 @ 100 |
2,106,380 | ||||
1,420 | New York City Hsg. Dev. Corp., Local or Gtd. Hsg. RB, Ser. J-2, 4.75%, 11/01/27, AMT | 05/17 @ 100 |
1,405,303 | ||||
New York City Indl. Dev. Agcy., | |||||||
1,000 | Econ. Impvts. RB, IAC/Interactive Corp. Proj., 5.00%, 9/01/35 | 09/15 @ 100 |
1,027,550 | ||||
1,000 | Local Hsg. RB, Eger Harbor House, Inc. Proj., Ser. A, 4.95%, 11/20/32 | 11/12 @ 101 |
1,027,880 | ||||
1,000 | Local Hsg. RB, Eger Harbor House, Inc. Proj., Ser. A, 5.875%, 5/20/44 | 11/12 @ 105 |
1,108,420 |
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BlackRock New York Municipal Income Trust II (BFY) (continued)
(Percentages shown are based on Net Assets)
Principal | ||||||||
Amount | Option Call |
|||||||
(000) |
Description | Provisions1 |
Value |
|||||
New York (cont'd) |
||||||||
$ 1,600 | Port, Arpt. & Marina
Impvts. RB, American Airlines, Inc./JFK Intl. Arpt. Proj., 7.625%, 8/01/25, AMT |
08/16 @
101 |
$ | 1,905,936 | ||||
1,500 | Port, Arpt. & Marina
Impvts. RB, American Airlines, Inc./JFK Intl. Arpt. Proj., 7.75%, 8/01/31, AMT |
08/16 @
101 |
1,804,830 | |||||
1,500 | Private Primary Schs. Lease RB, Lycee Francis de New York Proj., Ser. A,
5.375%, 6/01/23, ACA |
12/12 @
100 |
1,566,285 | |||||
750 | Recreational Fac. Impvts. RB, Queens Baseball Stad. Pilot Proj., 5.00%, 1/01/36, AMBAC |
01/17 @ 100 |
788,445 | |||||
New York City Mun. Wtr. Fin. Auth., |
||||||||
1,100 | Wtr& Swr. Sys.,
Wtr. Swr. RB, Second Gen. Resolution Proj., Ser. A, 4.50%, 6/15/37, MBIA |
06/16 @ 100 |
1,080,409 | |||||
900 | Wtr. RB, Ser. A, 4.25%, 6/15/39, FSA |
06/17 @ 100 |
844,443 | |||||
5,000 | Wtr. RB, Ser. A, 5.125%, 6/15/34 |
06/12 @ 100 |
5,198,800 | |||||
5,000 | 4 | New York City Trans.
Auth. Met. Transp. Auth. Triborough Brdg. & Tunl., Trans. Impvts. COP, Ser. A, 5.25%, 1/01/10, AMBAC |
N/A |
5,223,250 | ||||
5,000 | New York City Transl. Fin. Auth., Income Tax RB, Ser. B, 5.00%, 11/01/27 |
11/12 @ 100 |
5,184,450 | |||||
3,675 | Port Auth. of
New York & New Jersey, Port, Arpt. & Marina Impvts. RB, Contl. |
|||||||
Airlines Proj., 9.125%, 12/01/15, AMT |
07/07 @ 100 |
3,830,269 | ||||||
2,000 | St Urban
Dev. Corp., Pub. Impvts. Income Tax RB, Ser. B, 5.00%, 3/15/35 |
03/15 @ 100 |
2,087,660 | |||||
Suffolk Cnty. Indl. Dev. Agcy., |
||||||||
450 | Hlth., Hosp. & Nursing
Home RB, Active Retirement Cmnty. Proj., 5.00%, 11/01/28 |
11/16 @
100 |
455,036 | |||||
2,500 | Indl. Impvts. RB, Keyspan-Port Jefferson Proj., 5.25%, 6/01/27, AMT |
06/13 @ 100 |
2,602,975 | |||||
1,500 | Syracuse Indl. Dev. Agcy., Indl. Impvts. RB, Crousel Ctr. Proj., Ser. A, 5.00%, 1/01/36,
XLCA, AMT |
01/17 @
100 |
1,549,545 | |||||
Triborough Brdg. & Tunl.
Auth., Hwy. Tolls RB, |
||||||||
850 | 4 |
Ser A,
5.00%, 1/01/12 |
N/A |
891,046 | ||||
150 | Ser A,
5.00%, 1/01/32 |
01/12 @ 100 |
154,007 | |||||
8,000 | 4 |
TSASC, Inc. Rec. Recovery
Impvts., Tobacco Settlement Funded RB, Ser. 1, 5.75%, 7/15/12 |
N/A |
8,669,200 | ||||
110,660,571 | ||||||||
Puerto Rico4.7% |
||||||||
1,400 | Children's Trust Fund, Tobacco Settlement Funded RB, 5.625%, 5/15/43 |
05/12 @ 100 |
1,472,590 | |||||
2,000 | 4 | Hwy & Transp.
Auth., Hwy. Impvts. Hwy. Tolls RB, Ser. D, 5.375%, 7/01/12 |
N/A |
2,137,620 | ||||
3,610,210 | ||||||||
Total Long-Term Investments (cost $113,560,407) |
118,573,171 | |||||||
Shares | ||||||||
(000) |
||||||||
MONEY MARKET
FUND0.3% |
||||||||
205 | 5,6 | CMA New York Mun. Money Fund, 3.21% (cost $204,426) |
204,426 | |||||
Total
Investments 156.4% (cost $113,764,8337) |
$ | 118,777,597 | ||||||
Other
assets in excess of liabilities 2.4% |
1,816,802 | |||||||
Preferred
shares at redemption value, including dividends payable (58.8)% |
(44,654,159 | ) | ||||||
Net
Assets Applicable to Common Shareholders 100% |
$ | 75,940,240 |
1 | Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. |
2 | 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 May 31, 2007, the Trust held 5.7% of its net assets, with a current market value of $4,302,390, in securities restricted as to resale. |
3 | Illiquid security. As of May 31, 2007, the Trust held 0.7% of its net assets, with a current market value of $555,615, in these securities. |
4 | This bond is prerefunded. 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. |
5 | Represents an investment in an affiliate. |
6 | Represents current yield as of May 31, 2007. |
7 | Cost for federal income tax purposes is $113,760,098. The net unrealized appreciation on a tax basis is $5,017,499, consisting of $5,272,712 gross unrealized appreciation and $255,213 gross unrealized depreciation. |
KEY TO ABBREVIATIONS |
|
ACA | | American Capital Access | FSA | | Financial Security Assurance | |||||
AMBAC | | American Municipal Bond Assurance Corp. | GO | | General Obligation | |||||
AMT | | Subject to Alternative Minimum Tax | MBIA | | Municipal Bond Insurance Assoc. | |||||
CIFG | | CDC IXIS Financial Guaranty | RAA | | Radian Asset Assurance | |||||
COP | | Certificate of Participation | RB | | Revenue Bond | |||||
FGIC | | Financial Guaranty Insurance Co. | XLCA | | XL Capital Assurance | |||||
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Item 2. Controls and Procedures.
(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrants disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrants management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.
(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 (17 CFR 270.30a -3(d)) 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.
Separate certifications of the Registrants Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
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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.
(Registrant) | BlackRock
New York Municipal Income Trust II |
By: | /s/
Donald C. Burke |
Name: Donald C. Burke | |
Title: Treasurer and Principal Financial Officer | |
Date: July 25, 2007 |
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: President and Principal Executive Officer | |
Date: July 25, 2007 | |
By: | /s/
Donald C. Burke |
Name: Donald C. Burke | |
Title: Treasurer and Principal Financial Officer | |
Date: July 25, 2007 |
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