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As Of Filer Filing For·On·As Docs:Size Issuer Agent 1/24/17 Blackrock NY Muni Income Qual… Tr N-Q 11/30/16 2:368K Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: N-Q Blackrock New York Municipal Income Quality Trust HTML 240K 2: EX-99.CERT Certification Pursuant to Section 302 HTML 13K
| BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY 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: 811-21179
Name of Fund: BlackRock New York Municipal Income Quality Trust (BSE)
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 Quality 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: 08/31/2017
Date of reporting period: 11/30/2016
Item 1 – Schedule of Investments
| Schedule of Investments November 30, 2016 (Unaudited) |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
| Municipal Bonds | Par (000) |
Value | ||||||
| New York — 119.3% |
||||||||
| County/City/Special District/School District — 20.1% |
| |||||||
| Brooklyn Arena Local Development Corp., Refunding RB, Barclays Center Project, Series A, 5.00%, 7/15/42 |
$ | 455 | $ | 481,668 | ||||
| City of New York New York, GO, Refunding, Series E: |
||||||||
| 5.50%, 8/01/25 |
830 | 984,164 | ||||||
| 5.00%, 8/01/30 |
1,000 | 1,122,620 | ||||||
| City of New York New York, GO: |
||||||||
| Series A-1, 5.00%, 8/01/35 |
200 | 221,684 | ||||||
| Sub-Series D-1, Fiscal 2014, 5.00%, 8/01/31 |
440 | 497,072 | ||||||
| City of New York New York Convention Center Development Corp., Refunding RB, Hotel Unit Fee Secured: |
||||||||
| 5.00%, 11/15/40 |
1,100 | 1,208,174 | ||||||
| 5.00%, 11/15/45 |
1,250 | 1,367,937 | ||||||
| City of New York New York Industrial Development Agency, RB, PILOT: |
||||||||
| CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/39 (a) |
1,000 | 377,840 | ||||||
| Queens Baseball Stadium (AGC), 6.38%, 1/01/39 |
150 | 162,794 | ||||||
| City of New York New York Transitional Finance Authority Future Tax Secured, RB, Sub-Series B-1, 5.00%, 11/01/35 |
425 | 480,250 | ||||||
| City of New York New York Transitional Finance Authority Future Tax Secured, Refunding RB, Series C, 5.00%, 11/01/30 |
590 | 675,320 | ||||||
| County of Erie New York Industrial Development Agency, RB, City School District of Buffalo Project, Series A: |
||||||||
| 5.25%, 5/01/31 |
200 | 221,960 | ||||||
| (AGM), 5.75%, 5/01/17 (b) |
1,000 | 1,020,480 | ||||||
| County of Erie New York Industrial Development Agency, Refunding RB, City School District of Buffalo Project, 5.00%, 5/01/28 |
750 | 870,863 | ||||||
| Haverstraw-Stony Point Central School District, GO, Refunding, 5.00%, 10/15/36 |
240 | 268,505 | ||||||
| Hudson Yards Infrastructure Corp., RB, Series A: |
||||||||
| 5.00%, 2/15/47 |
500 | 502,950 | ||||||
| 5.75%, 2/15/47 |
1,000 | 1,127,100 | ||||||
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| County/City/Special District/School District (continued) |
|
|||||||
| Hudson Yards Infrastructure Corp., RB, Series A (continued): |
||||||||
| (AGC), 5.00%, 2/15/47 |
$ | 1,250 | $ | 1,259,562 | ||||
| (AGM), 5.00%, 2/15/47 |
750 | 755,738 | ||||||
| (NPFGC), 4.50%, 2/15/47 |
1,000 | 1,006,230 | ||||||
| New York Liberty Development Corp., Refunding RB: |
||||||||
| 4 World Trade Center Project, 5.00%, 11/15/31 |
1,000 | 1,107,530 | ||||||
| 4 World Trade Center Project, 5.00%, 11/15/44 |
1,250 | 1,374,037 | ||||||
| 4 World Trade Center Project, 5.75%, 11/15/51 |
545 | 616,782 | ||||||
| 7 World Trade Center Project, Class 1, 4.00%, 9/15/35 |
1,100 | 1,152,866 | ||||||
|
|
|
|||||||
| 18,864,126 | ||||||||
| Education — 34.3% |
||||||||
| Build NYC Resource Corp., RB, The Chapin School, Ltd. Project: |
||||||||
| 4.00%, 11/01/26 |
100 | 109,722 | ||||||
| 5.00%, 11/01/26 |
150 | 177,596 | ||||||
| Build NYC Resource Corp., Refunding RB: |
||||||||
| City University New York-Queens College Student Residences, LLC Project, Series A, 5.00%, 6/01/38 |
250 | 278,392 | ||||||
| Ethical Culture Fieldston School Project, 5.00%, 6/01/33 |
300 | 331,917 | ||||||
| Ethical Culture Fieldston School Project, 5.00%, 6/01/35 |
350 | 385,077 | ||||||
| New York Law School Project, 5.00%, 7/01/41 |
130 | 138,899 | ||||||
| New York Law School Project, 4.00%, 7/01/45 |
185 | 169,364 | ||||||
| Packer Collegiate Institute Project, 5.00%, 6/01/40 |
690 | 745,000 | ||||||
| City of New York Albany Capital Resource Corp., Refunding RB, Albany College of Pharmacy and Health Sciences, Series A: |
||||||||
| 5.00%, 12/01/33 |
175 | 193,312 | ||||||
| 4.00%, 12/01/34 |
130 | 134,135 | ||||||
| BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 | 1 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| Education (continued) |
||||||||
| City of New York New York Trust for Cultural Resources, Refunding RB: |
||||||||
| American Museum of Natural History, |
$ | 440 | $ | 484,858 | ||||
| American Museum of Natural History, |
500 | 545,745 | ||||||
| Museum of Modern Art, Series 1A, |
700 | 748,482 | ||||||
| Wildlife Conservation Society, |
410 | 449,860 | ||||||
| City of Troy New York Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project: |
||||||||
| Series A, 5.13%, 9/01/40 |
1,645 | 1,796,011 | ||||||
| Series B, 4.00%, 8/01/35 |
230 | 229,690 | ||||||
| County of Madison New York Capital Resource Corp., Refunding RB, Colgate University Project, Series A, 4.50%, 7/01/39 |
1,500 | 1,570,425 | ||||||
| County of Monroe New York Industrial Development Corp., RB, University of Rochester Project, Series A, 5.00%, 7/01/31 |
500 | 546,575 | ||||||
| County of Monroe New York Industrial Development Corp., Refunding RB, University of Rochester Project, Series A, 5.00%, 7/01/38 |
400 | 438,212 | ||||||
| County of Orange New York Funding Corp., Refunding RB, Mount St. Mary College Project, Series A: |
||||||||
| 5.00%, 7/01/37 |
180 | 186,282 | ||||||
| 5.00%, 7/01/42 |
115 | 118,610 | ||||||
| County of Schenectady New York Capital Resource Corp., Refunding RB, Union College, 5.00%, 7/01/32 |
500 | 548,640 | ||||||
| County of Tompkins New York Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33 |
250 | 276,293 | ||||||
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| Education (continued) |
||||||||
| County of Tompkins New York Industrial Development Agency, RB, Civic Facility Cornell University Project, |
$ | 1,000 | $ | 1,097,300 | ||||
| Dobbs Ferry Local Development Corp., RB, Mercy College Project: |
||||||||
| 5.00%, 7/01/39 |
1,000 | 1,084,590 | ||||||
| 5.00%, 7/01/44 |
500 | 540,575 | ||||||
| State of New York Dormitory Authority, RB: |
||||||||
| Columbia University, Series A-2, 5.00%, 10/01/46 |
250 | 306,332 | ||||||
| Convent of the Sacred Heart (AGM), 5.75%, 11/01/40 |
300 | 336,366 | ||||||
| Fordham University, Series A, 5.00%, 7/01/28 |
500 | 562,495 | ||||||
| New School (AGM), 5.50%, 7/01/20 (b) |
350 | 396,336 | ||||||
| New York University, Series B, 5.00%, 7/01/37 |
500 | 559,525 | ||||||
| New York University, Series C, |
1,000 | 1,058,210 | ||||||
| Rochester Institute of Technology, |
550 | 598,944 | ||||||
| Series B, 5.75%, 3/15/36 |
600 | 652,392 | ||||||
| State University Dormitory Facilities, Series A, 5.00%, 7/01/40 |
600 | 654,474 | ||||||
| State University Dormitory Facilities, Series A, 5.00%, 7/01/41 |
1,000 | 1,097,660 | ||||||
| Teachers College, Series B, 5.00%, 7/01/42 |
300 | 330,153 | ||||||
| State of New York Dormitory Authority, Refunding RB: |
||||||||
| Barnard College, Series A, 5.00%, 7/01/34 |
200 | 219,124 | ||||||
| Barnard College, Series A, 5.00%, 7/01/43 |
2,960 | 3,204,526 | ||||||
| Cornell University, Series A, 5.00%, 7/01/40 |
250 | 273,783 | ||||||
| Fordham University, 5.00%, 7/01/44 |
640 | 691,936 | ||||||
| Icahn School of Medicine at Mount Sinai, Series A, 5.00%, 7/01/35 |
1,600 | 1,739,488 | ||||||
| New York University, Series A, 5.00%, 7/01/37 |
745 | 833,692 | ||||||
| 2 | BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| Education (continued) |
||||||||
| State of New York Dormitory Authority, Refunding RB (continued): |
||||||||
| Pratt Institute, 5.00%, 7/01/46 |
$ | 500 | $ | 544,040 | ||||
| Pratt Institute, Series A, 5.00%, 7/01/44 |
500 | 533,770 | ||||||
| State University Dormitory Facilities, Series A, 5.25%, 7/01/30 |
1,500 | 1,707,990 | ||||||
| State University Dormitory Facilities, Series A, 5.25%, 7/01/32 |
600 | 675,918 | ||||||
| State University Dormitory Facilities, Series A, 5.00%, 7/01/42 |
450 | 497,664 | ||||||
| State University Dormitory Facilities, Series B, 5.00%, 7/01/32 |
545 | 619,442 | ||||||
| Town of Hempstead New York Local Development Corp., Refunding RB, Adelphi University Project: |
||||||||
| 5.00%, 10/01/34 |
310 | 338,284 | ||||||
| 5.00%, 10/01/35 |
310 | 337,841 | ||||||
|
|
|
|||||||
| 32,095,947 | ||||||||
| Health — 13.6% |
||||||||
| Buffalo & Erie County Industrial Land Development Corp., RB, 5.25%, 7/01/35 |
500 | 542,755 | ||||||
| County of Dutchess New York Industrial Development Agency, RB, Vassar Brothers Medical Center (AGC), 5.50%, 4/01/30 |
500 | 551,055 | ||||||
| County of Dutchess New York Local Development Corp., RB, Health Quest Systems, Inc., Series B, 3.00%, 7/01/36 |
195 | 164,664 | ||||||
| County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project, Series A, 5.00%, 12/01/37 |
850 | 910,410 | ||||||
| County of Monroe New York Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40 |
725 | 809,651 | ||||||
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| Health (continued) |
||||||||
| County of Suffolk New York EDC, RB, Catholic Health Services, Series C, 5.00%, 7/01/32 |
$ | 150 | $ | 161,046 | ||||
| County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien, Remarketing, Series A, 5.00%, 11/01/30 |
895 | 964,882 | ||||||
| State of New York Dormitory Authority, RB: |
||||||||
| General Purpose, Series A, |
500 | 554,735 | ||||||
| Hudson Valley Hospital (BHAC) (FHA), |
1,250 | 1,279,212 | ||||||
| Mental Health Services (AGM), |
905 | 963,879 | ||||||
| Mental Health Services (AGM), |
5 | 5,325 | ||||||
| Mental Health Services (AGM), |
5 | 5,325 | ||||||
| Mental Health Services (AGM), |
80 | 84,878 | ||||||
| Mental Health Services, 2nd Series (AGM), |
5 | 5,325 | ||||||
| New York University Hospitals Center, Series A, 6.00%, 7/01/20 (b) |
250 | 287,430 | ||||||
| North Shore-Long Island Jewish Obligated Group, Series D, 4.25%, 5/01/39 |
500 | 515,115 | ||||||
| State of New York Dormitory Authority, Refunding RB, North Shore-Long Island Jewish Obligated Group, Series A: |
||||||||
| 5.00%, 5/01/32 |
750 | 821,063 | ||||||
| 5.25%, 5/01/34 |
1,840 | 2,030,955 | ||||||
| 5.00%, 5/01/41 |
750 | 811,958 | ||||||
| 5.00%, 5/01/43 |
1,140 | 1,225,842 | ||||||
|
|
|
|||||||
| 12,695,505 | ||||||||
| Housing — 3.8% |
||||||||
| City of New York New York Housing Development Corp., RB, M/F Housing: |
||||||||
| Fund Grant Program, New York City Housing Authority Program, |
915 | 1,019,246 | ||||||
| BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 | 3 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| Housing (continued) |
||||||||
| City of New York New York Housing Development Corp., RB, M/F Housing (continued): |
||||||||
| Fund Grant Program, New York City Housing Authority Program, Series B1, 5.00%, 7/01/33 |
$ | 400 | $ | 435,744 | ||||
| Series B1, 5.25%, 7/01/30 |
750 | 844,425 | ||||||
| Sustainable Neighborhood Bonds, |
900 | 777,600 | ||||||
| City of New York New York Housing Development Corp., Refunding RB, M/F Housing, 8 Spruce Street, Class F, 4.50%, 2/15/48 |
500 | 514,420 | ||||||
|
|
|
|||||||
| 3,591,435 | ||||||||
| State — 10.6% |
||||||||
| City of New York New York Transitional Finance Authority, BARB: |
||||||||
| Fiscal 2009, Series S-4 (AGC), 5.50%, 1/15/33 |
1,000 | 1,077,350 | ||||||
| Series S-2 (AGM) (NPFGC), 5.00%, 1/15/37 |
850 | 853,706 | ||||||
| Metropolitan Transportation Authority, Refunding RB, Dedicated Tax Fund: |
||||||||
| Series B, 5.00%, 11/15/34 |
540 | 586,348 | ||||||
| Sub-Series B-1, 5.00%, 11/15/31 |
750 | 843,060 | ||||||
| Sales Tax Asset Receivable Corp., Refunding RB, Series A, 5.00%, 10/15/31 |
750 | 873,352 | ||||||
| State of New York Dormitory Authority, RB, General Purpose, Series B: |
||||||||
| 5.00%, 3/15/37 |
1,000 | 1,117,370 | ||||||
| 5.00%, 3/15/42 |
1,400 | 1,540,602 | ||||||
| State of New York Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM), 5.00%, 10/01/18 (b) |
1,000 | 1,069,640 | ||||||
| State of New York Thruway Authority, Refunding RB, 2nd General Highway & Bridge Trust, Series A, 5.00%, 4/01/32 |
250 | 279,178 | ||||||
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| State (continued) |
||||||||
| State of New York Urban Development Corp., RB, State Personal Income Tax, Series C: |
||||||||
| 5.00%, 3/15/30 |
$ | 500 | $ | 567,660 | ||||
| 5.00%, 3/15/32 |
1,000 | 1,132,230 | ||||||
|
|
|
|||||||
| 9,940,496 | ||||||||
| Tobacco — 1.0% |
||||||||
| Counties of New York Tobacco Trust VI, Refunding RB, Tobacco Settlement Pass-Through: |
||||||||
| Series B, 5.00%, 6/01/45 |
300 | 311,493 | ||||||
| Series C, 5.00%, 6/01/51 |
270 | 282,577 | ||||||
| County of Niagara New York Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed, 5.25%, 5/15/40 |
290 | 312,979 | ||||||
|
|
|
|||||||
| 907,049 | ||||||||
| Transportation — 21.5% |
||||||||
| Metropolitan Transportation Authority, RB: |
||||||||
| Series A, 5.00%, 11/15/27 |
575 | 648,330 | ||||||
| Series A-1, 5.25%, 11/15/34 |
270 | 305,359 | ||||||
| Series C, 6.50%, 11/15/28 |
145 | 159,458 | ||||||
| Series D, 5.25%, 11/15/41 |
2,000 | 2,246,540 | ||||||
| Series E, 5.00%, 11/15/38 |
650 | 718,614 | ||||||
| Metropolitan Transportation Authority, Refunding RB, Series D, 5.25%, 11/15/31 |
750 | 853,740 | ||||||
| Metropolitan Transportation Authority Hudson Rail Yards Trust Obligations, Refunding RB, Series A, 5.00%, 11/15/51 |
1,540 | 1,647,893 | ||||||
| Port Authority of New York & New Jersey, Refunding ARB: |
||||||||
| 179th Series, 5.00%, 12/01/38 |
245 | 273,121 | ||||||
| Consolidated, 189th Series, 5.00%, 5/01/45 |
860 | 946,757 | ||||||
| State of New York Thruway Authority, RB, Junior Lien, Series A, 5.25%, 1/01/56 |
490 | 542,910 | ||||||
| State of New York Thruway Authority, Refunding RB, General: |
||||||||
| Series H (AGM) (NPFGC), 5.00%, 1/01/37 |
4,000 | 4,135,240 | ||||||
| Series I, 5.00%, 1/01/37 |
1,325 | 1,456,983 | ||||||
| Series I, 5.00%, 1/01/42 |
425 | 458,562 | ||||||
| Series K, 5.00%, 1/01/32 |
750 | 835,320 | ||||||
| 4 | BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| Transportation (continued) |
||||||||
| Triborough Bridge & Tunnel Authority, RB, Series B, 5.00%, 11/15/40 |
$ | 280 | $ | 312,967 | ||||
| Triborough Bridge & Tunnel Authority, Refunding RB: |
||||||||
| General, CAB, Series B, 0.00%, 11/15/32 (a) |
635 | 355,295 | ||||||
| General, Remarketing, Series A, 5.00%, 11/15/34 |
1,000 | 1,111,250 | ||||||
| General, Series A, 5.25%, 11/15/45 |
370 | 419,654 | ||||||
| Series C, 5.00%, 11/15/38 |
1,000 | 1,059,410 | ||||||
| Sub-Series A, 5.00%, 11/15/29 |
1,485 | 1,673,625 | ||||||
|
|
|
|||||||
| 20,161,028 | ||||||||
| Utilities — 14.4% |
||||||||
| Albany Municipal Water Finance Authority, Refunding RB, Series A, 5.00%, 12/01/33 |
1,000 | 1,109,590 | ||||||
| City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution: |
||||||||
| Fiscal 2015, Series HH, 5.00%, 6/15/39 |
1,000 | 1,109,910 | ||||||
| Series DD, 5.00%, 6/15/32 |
1,100 | 1,156,474 | ||||||
| Long Island Power Authority, RB, General, Electric Systems: |
||||||||
| Series A (AGM), 5.00%, 5/01/36 |
500 | 544,695 | ||||||
| Series C (CIFG), 5.25%, 9/01/29 |
1,000 | 1,166,000 | ||||||
| Long Island Power Authority, Refunding RB: |
||||||||
| Electric System, Series B, 5.00%, 9/01/41 |
250 | 273,817 | ||||||
| Electric System, Series B, 5.00%, 9/01/46 |
355 | 385,807 | ||||||
| Electric Systems, Series A (AGC), 5.75%, 4/01/39 |
1,690 | 1,829,256 | ||||||
| General, Electric Systems, Series A (AGC), 6.00%, 5/01/19 (b) |
2,000 | 2,214,220 | ||||||
| State of New York Environmental Facilities Corp., RB, Series B, Revolving Funds, Green Bonds, 5.00%, 9/15/40 |
635 | 711,740 | ||||||
| Municipal Bonds | Par (000) |
Value | ||||||
| New York (continued) |
||||||||
| Utilities (continued) |
||||||||
| State of New York Power Authority, Refunding RB, Series A, 5.00%, 11/15/38 |
$ | 1,000 | $ | 1,112,440 | ||||
| Utility Debt Securitization Authority, Refunding RB, Restructuring: |
||||||||
| 3.00%, 12/15/32 |
150 | 143,144 | ||||||
| Series B, 4.00%, 12/15/35 |
280 | 291,732 | ||||||
| Series E, 5.00%, 12/15/41 |
1,000 | 1,126,090 | ||||||
| Western Nassau County Water Authority, RB, Series A, 5.00%, 4/01/40 |
250 | 270,692 | ||||||
|
|
|
|||||||
| 13,445,607 | ||||||||
| Total Municipal Bonds in New York | 111,701,193 | |||||||
| Puerto Rico — 1.8% |
||||||||
| Housing — 1.8% |
||||||||
| Puerto Rico Housing Finance Authority, Refunding RB, M/F Housing, Subordinate, Capital Fund Modernization, 5.13%, 12/01/27 |
1,600 | 1,703,216 | ||||||
| Total Municipal Bonds — 121.1% | 113,404,409 | |||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts (c) |
||||||||
| New York — 42.9% |
||||||||
| County/City/Special District/School District — 11.9% |
|
|||||||
| City of New York New York, GO, Fiscal 2015, Series B, 4.00%, 8/01/32 |
$ | 1,790 | 1,870,514 | |||||
| City of New York New York, GO, Refunding, Series E, 5.00%, 8/01/29 |
1,000 | 1,154,120 | ||||||
| City of New York New York, GO: |
||||||||
| Sub-Series C-3 (AGC), 5.75%, 8/15/19 (b)(d) |
64 | 68,734 | ||||||
| Sub-Series C-3 (AGC), 5.75%, 8/15/28 |
936 | 1,011,986 | ||||||
| Sub-Series G-1, 5.00%, 4/01/29 |
1,000 | 1,124,670 | ||||||
| Sub-Series I-1, 5.00%, 3/01/36 |
250 | 275,337 | ||||||
| City of New York New York Convention Center Development Corp., Refunding RB, Hotel Unit Fee Secured, 5.00%, 11/15/32 |
500 | 562,560 | ||||||
| BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 | 5 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| Municipal Bonds Transferred to Tender Option Bond Trusts (c) |
Par (000) |
Value |
||||||
| New York (continued) |
||||||||
| County/City/Special District/School District (continued) |
|
|||||||
| City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D-1, 5.00%, 11/01/38 |
$ | 2,475 | $ | 2,711,833 | ||||
| New York Liberty Development Corp., Refunding RB, 7 World Trade Center Project, Class 1, 5.00%, 9/15/40 |
2,085 | 2,318,833 | ||||||
|
|
|
|||||||
| 11,098,587 | ||||||||
| Education — 5.1% |
||||||||
| State of New York Dormitory Authority, LRB, State University Dormitory Facilities, New York University, Series A, 5.00%, 7/01/35 |
1,999 | 2,211,641 | ||||||
| State of New York Dormitory Authority, RB, New York University, Series A (AMBAC), 5.00%, 7/01/17 (b) |
2,499 | 2,559,196 | ||||||
|
|
|
|||||||
| 4,770,837 | ||||||||
| State — 6.0% |
||||||||
| Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (d) |
1,800 | 2,028,595 | ||||||
| Sales Tax Asset Receivable Corp., Refunding RB, Fiscal 2015, Series A: |
||||||||
| 5.00%, 10/15/31 |
990 | 1,152,825 | ||||||
| 4.00%, 10/15/32 |
1,500 | 1,589,340 | ||||||
| State of New York Dormitory Authority, RB, General Purpose, Series C, 5.00%, 3/15/41 |
750 | 817,590 | ||||||
|
|
|
|||||||
| 5,588,350 | ||||||||
| Transportation — 7.2% |
||||||||
| New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43 |
3,495 | 3,924,554 | ||||||
| Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55 |
735 | 825,148 | ||||||
| State of New York Thruway Authority, Refunding RB, Transportation, Personal Income Tax, Series A, 5.00%, 3/15/31 |
800 | 892,888 | ||||||
| Municipal Bonds Transferred to Tender Option Bond Trusts (c) |
Par (000) |
Value |
||||||
| New York (continued) |
||||||||
| Transportation (continued) |
||||||||
| Triborough Bridge & Tunnel Authority, Refunding RB, Series A, 5.00%, 11/15/46 |
$ | 1,000 | $ | 1,108,830 | ||||
|
|
|
|||||||
| 6,751,420 | ||||||||
| Utilities — 12.7% |
||||||||
| City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A: |
||||||||
| 5.75%, 6/15/18 (b) |
114 | 120,774 | ||||||
| 5.75%, 6/15/40 |
381 | 403,921 | ||||||
| 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 |
2,249 | 2,497,091 | ||||||
| Fiscal 2012, Series BB, 5.00%, 6/15/44 |
2,011 | 2,233,412 | ||||||
| Series FF-2, 5.50%, 6/15/40 |
405 | 439,478 | ||||||
| New York State Environmental Facilities Corp., RB, Subordinated SRF Bonds, 4.00%, 6/15/46 |
691 | 703,269 | ||||||
| State of New York Environmental Facilities Corp., RB, Subordinated SRF Bonds, 3.00%, 6/15/35 |
240 | 214,692 | ||||||
| Utility Debt Securitization Authority, Refunding RB: |
||||||||
| 5.00%, 12/15/41 |
3,719 | 4,187,784 | ||||||
| Restructuring, 5.00%, 12/15/36 |
1,006 | 1,138,746 | ||||||
|
|
|
|||||||
| 11,939,167 | ||||||||
| Total Municipal Bonds Transferred to Tender Option Bond Trusts — 42.9% |
|
40,148,361 | ||||||
| Total Long-Term Investments (Cost — $147,478,740) — 164.0% |
153,552,770 | |||||||
| 6 | BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| Short-Term Securities | Shares | Valeue | ||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.43% (e)(f) |
530,952 | $ | 530,952 | |||||
| Total Short-Term Securities (Cost — $530,952) — 0.6% |
530,952 | |||||||
| Total Investments (Cost — $148,009,692*) — 164.6% |
154,083,722 | |||||||
| Other Assets Less Liabilities — 2.1% | 1,939,107 | |||||||
| Liability for TOB Trust Certificates, Including Interest |
|
(21,917,782 | ) | |||||
| VRDP Shares, at Liquidation Value — (43.3)% |
|
(40,500,000 | ) | |||||
|
|
|
|||||||
| Net Assets Applicable to Common Shares — 100.0% |
|
$ | 93,605,047 | |||||
|
|
|
|||||||
| * | As of November 30, 2016, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows: |
| Tax cost |
$ | 126,350,667 | ||
|
|
|
|||
| Gross unrealized appreciation |
$ | 7,370,943 | ||
| Gross unrealized depreciation |
(1,510,682 | ) | ||
|
|
|
|||
| Net unrealized appreciation |
$ | 5,860,261 | ||
|
|
|
| BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 | 7 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| Notes to Schedule of Investments |
| (a) | Zero-coupon bond. |
| (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) | 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. |
| (d) | 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 agreements, which expire between February 15, 2017 to February 15, 2019, is $1,482,731. |
| (e) | During the period ended November 30, 2016, investments in issuers considered to be affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
| Affiliate |
Shares Held at August 31, 2016 |
Net Activity |
Shares Held at November 30, 2016 |
Value at |
Income | Realized Loss |
||||||||||||||||||
| BlackRock Liquidity Funds, MuniCash, Institutional Class |
1,095,574 | (564,623 | ) | 530,951 | $ | 530,951 | $ | 739 | $ | (24 | ) | |||||||||||||
| (f) | Current yield as of period end. |
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.
| Derivative Financial Instruments Outstanding as of Period End | ||||||||
| Futures Contracts | ||||||||||||||||||
| Contracts Short |
Issue | Expiration | Notional Value |
Unrealized Appreciation |
||||||||||||||
| (12 | ) | 10-Year U.S. Treasury Note | March 2017 | $ | 1,494,188 | $ | 5,856 | |||||||||||
| (3 | ) | 5-Year U.S. Treasury Note | March 2017 | $ | 353,531 | 394 | ||||||||||||
| (9 | ) | Long U.S. Treasury Bond | March 2017 | $ | 1,361,531 | 8,841 | ||||||||||||
| (1 | ) | Ultra U.S. Treasury Bond | March 2017 | $ | 161,406 | 835 | ||||||||||||
|
|
Total |
|
$ | 15,926 | ||||||||||||||
|
|
|
|||||||||||||||||
| Portfolio Abbreviations |
| AGC | Assured Guarantee Corp. | |
| AGM | Assured Guaranty Municipal Corp. | |
| AMBAC | American Municipal Bond Assurance Corp. | |
| ARB | Airport Revenue Bonds | |
| BARB | Building Aid Revenue Bonds | |
| BHAC | Berkshire Hathaway Assurance Corp. | |
| CAB | Capital Appreciation Bonds | |
| CIFG | CIFG | |
| CIFG | CIFG Assurance North America, Inc. | |
| EDC | Economic Development Corp. | |
| FHA | Federal Housing Administration | |
| GO | General Obligation Bonds |
| 8 | BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 |
| Schedule of Investments (continued) |
BlackRock New York Municipal Income Quality Trust (BSE) |
| LRB | Lease Revenue Bonds | |
| M/F | Multi-Family | |
| NPFGC | National Public Finance Guarantee Corp. | |
| PILOT | Payment in Lieu of Taxes | |
| RB | Revenue Bonds | |
| SRF | State Revolving Fund |
| 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 methodologies 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 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. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 Investments include equity or debt issued by privately-held companies. 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 methodologies 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 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 Investments1 |
— | $ | 153,552,770 | — | $ | 153,552,770 | ||||||||||
| Short-Term Securities |
$ | 530,952 | — | — | 530,952 | |||||||||||
|
|
|
|||||||||||||||
| Total |
$ | 530,952 | $ | 153,552,770 | — | $ | 154,083,722 | |||||||||
|
|
|
|||||||||||||||
| Derivative Financial Instruments 2 |
||||||||||||||||
| Assets: |
||||||||||||||||
| Interest rate contracts |
$ | 15,926 | — | — | $ | 15,926 | ||||||||||
|
|
|
|||||||||||||||
| 1 | See above Schedule of Investments for values in each sector. |
| 2 | Derivative financial instruments are futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument. |
| BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 | 9 |
| Schedule of Investments (concluded) |
BlackRock New York Municipal Income Quality Trust (BSE) |
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 | |||||||||||||
| Assets: |
||||||||||||||||
| Cash pledged for futures contracts |
$ | 65,300 | — | — | $ | 65,300 | ||||||||||
| Liabilities: |
||||||||||||||||
| Bank overdraft |
— | $ | (54,205 | ) | — | (54,205 | ) | |||||||||
| TOB Trust Certificates |
— | (21,872,794 | ) | — | (21,872,794 | ) | ||||||||||
| VRDP Shares at Liquidation Value |
— | (40,500,000 | ) | — | (40,500,000 | ) | ||||||||||
|
|
|
|||||||||||||||
| Total |
$ | 65,300 | $ | (62,426,999 | ) | — | $ | (62,361,699 | ) | |||||||
|
|
|
|||||||||||||||
During the period ended November 30, 2016, there were no transfers between levels.
| 10 | BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST | NOVEMBER 30, 2016 |
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 Quality Trust | ||
| By: | /s/ John M. Perlowski | |
| John M. Perlowski | ||
| Chief Executive Officer (principal executive officer) of | ||
| BlackRock New York Municipal Income Quality Trust | ||
Date: January 23, 2017
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 Quality Trust |
Date: January 23, 2017
| By: | /s/ Neal J. Andrews | |
| Neal J. Andrews | ||
| Chief Financial Officer (principal financial officer) of | ||
| BlackRock New York Municipal Income Quality Trust |
Date: January 23, 2017
| This ‘N-Q’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 2/15/19 | ||||
| 2/15/17 | ||||
| Filed on / Effective on: | 1/24/17 | |||
| 1/23/17 | ||||
| For Period End: | 11/30/16 | |||
| 8/31/16 | N-CSR, NSAR-B | |||
| List all Filings | ||||