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

 

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

 

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 II, 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: 08/31/2012

 

Date of reporting period: 11/30/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments November 30, 2011 (Unaudited)

BlackRock New York Municipal Income Trust II (BFY)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York — 137.1%

 

 

 

 

 

 

 

Corporate — 16.4%

 

 

 

 

 

 

 

Chautauqua County Industrial
Development Agency, RB, NRG
Dunkirk Power Project, 5.88%,
4/01/42

 

$

500

 

$

492,645

 

County of Westchester New York
Healthcare Corp., RB, Senior Lien,
Series A, Remarketing, 5.00%,
11/01/30 (a)

 

 

1,000

 

 

991,510

 

Essex County Industrial Development
Agency New York, RB, International
Paper Co. Project, Series A, AMT,
6.63%, 9/01/32

 

 

200

 

 

212,180

 

Essex County Industrial Development
Agency New York, Refunding RB,
International Paper Co. Project, Series
A, AMT, 5.50%, 10/01/26

 

 

625

 

 

623,694

 

Jefferson County Industrial Development
Agency New York, Refunding RB, Solid
Waste, Series A, AMT, 5.20%,
12/01/20

 

 

750

 

 

751,058

 

New York City Industrial Development
Agency, RB, American Airlines Inc.,
JFK International Airport, AMT (b)(c):

 

 

 

 

 

 

 

7.63%, 8/01/25

 

 

1,600

 

 

1,375,968

 

7.75%, 8/01/31

 

 

1,500

 

 

1,289,970

 

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

 

 

1,280

 

 

1,290,342

 

Port Authority of New York & New Jersey,
RB, Continental Airlines Inc. and
Eastern Air Lines Inc. Project,
LaGuardia, AMT, 9.13%, 12/01/15

 

 

2,400

 

 

2,425,920

 

Suffolk County Industrial Development
Agency New York, RB, KeySpan, Port
Jefferson, AMT, 5.25%, 6/01/27

 

 

2,500

 

 

2,540,400

 

 

 

 

 

 

 

11,993,687

 

County/City/Special District/School District — 33.3%

 

 

 

 

 

 

 

Amherst Development Corp., RB,
University at Buffalo Foundation
Faculty-Student Housing Corp.,
Series A (AGM):

 

 

 

 

 

 

 

4.38%, 10/01/30

 

 

500

 

 

497,115

 

4.63%, 10/01/40

 

 

275

 

 

269,616

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

County/City/Special District/School District
(continued)

 

 

 

 

 

 

 

Buffalo & Erie County Industrial Land
Development Corp., RB, Buffalo State
College Foundation Housing
Corporation Project, 5.38%,
10/01/41

 

$

280

 

$

289,002

 

City of New York New York, GO:

 

 

 

 

 

 

 

Series A-1, 4.75%, 8/15/25

 

 

500

 

 

544,795

 

Series B, 5.75%, 12/01/11 (d)

 

 

2,000

 

 

2,000,300

 

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

 

 

250

 

 

292,745

 

Sub-Series I-1, 5.38%,
4/01/36

 

 

450

 

 

491,368

 

City of Syracuse New York, GO, Airport
Terminal Security and Access
Improvement, Series A (AGM), 4.75%,
11/01/31 (a)

 

 

500

 

 

493,640

 

Hudson New York Yards Infrastructure
Corp., RB, Series A:

 

 

 

 

 

 

 

5.00%, 2/15/47

 

 

1,850

 

 

1,793,279

 

5.75%, 2/15/47

 

 

1,550

 

 

1,639,512

 

(AGM), 5.00%, 2/15/47

 

 

850

 

 

850,323

 

(NPFGC), 4.50%, 2/15/47

 

 

250

 

 

224,815

 

Monroe County Industrial Development
Corp., RB, University of Rochester
Project, Series A, 5.00%, 7/01/31

 

 

1,000

 

 

1,050,470

 

New York City Industrial Development
Agency, RB, PILOT:

 

 

 

 

 

 

 

CAB, Yankee Stadium (AGC), 5.88%,
3/01/35 (e)

 

 

500

 

 

136,870

 

CAB, Yankee Stadium (AGC), 6.08%,
3/01/42 (e)

 

 

1,750

 

 

302,942

 

CAB, Yankee Stadium (AGC), 6.22%,
3/01/45 (e)

 

 

500

 

 

71,390

 

Queens Baseball Stadium,
5.00%, 1/01/39

 

 

1,000

 

 

846,880

 

Queens Baseball Stadium,
6.38%, 1/01/39

 

 

100

 

 

106,458

 

Queens Baseball Stadium,
5.00%, 1/01/46

 

 

550

 

 

456,802

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

ACA

American Capital Access Corp.

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

BHAC

Berkshire Hathaway Assurance Corp.

CAB

Capital Appreciation Bonds

CIFG

CDC IXIS Financial Guaranty

ERB

Education Revenue Bonds

FHA

Federal Housing Administration

Ginnie Mae

Government National Mortgage Association

GO

General Obligation Bonds

HFA

Housing Finance Agency

LRB

Lease Revenue Bonds

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

PILOT

Payment in Lieu of Taxes

RB

Revenue Bonds

SONYMA

State of New York Mortgage Agency

Syncora

Syncora Guarantee

 

 

 

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II

NOVEMBER 30, 2011

1


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust II (BFY)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

County/City/Special District/School District
(concluded)

 

 

 

 

 

 

 

New York City Transitional Finance
Authority, RB:

 

 

 

 

 

 

 

Building Aid Revenue, Fiscal
2009, Series S-3, 5.25%,
1/15/39

 

$

1,300

 

$

1,380,769

 

Future Tax Secured, Series B,
5.00%, 11/01/12 (d)

 

 

1,880

 

 

1,959,825

 

Future Tax Secured, Series B,
5.00%, 11/01/27

 

 

3,120

 

 

3,218,904

 

Series S-2 (NPFGC), 4.50%,
1/15/31

 

 

2,500

 

 

2,515,800

 

Series S-2 (NPFGC), 4.25%,
1/15/34

 

 

250

 

 

238,925

 

New York Convention Center
Development Corp., RB, Hotel Unit
Fee Secured (AMBAC), 5.00%,
11/15/44

 

 

250

 

 

251,688

 

New York Liberty Development Corp.,
Refunding RB, Second Priority, Bank
of America Tower at One Bryant Park
Project:

 

 

 

 

 

 

 

5.63%, 7/15/47

 

 

1,400

 

 

1,411,704

 

6.38%, 7/15/49

 

 

500

 

 

519,030

 

New York State Dormitory Authority, RB,
State University Dormitory Facilities,
Series A, 5.00%, 7/01/39

 

 

250

 

 

261,545

 

St. Lawrence County Industrial
Development Agency, RB, Clarkson
University Project, 6.00%, 9/01/34

 

 

150

 

 

165,722

 

 

 

 

 

 

 

24,282,234

 

Education — 20.1%

 

 

 

 

 

 

 

Albany Industrial Development Agency,
RB, New Covenant Charter School
Project, Series A (c)(f):

 

 

 

 

 

 

 

7.00%, 5/01/25

 

 

345

 

 

86,250

 

7.00%, 5/01/35

 

 

220

 

 

55,000

 

City of Troy New York, Refunding RB,
Rensselaer Polytechnic, Series A,
5.13%, 9/01/40

 

 

250

 

 

251,645

 

Dutchess County Industrial
Development Agency New York,
Refunding RB, Bard College Civic
Facility, Series A-2, 4.50%, 8/01/36

 

 

755

 

 

688,809

 

Geneva Industrial Development Agency
New York, RB, Hobart & William Smith
Project, Series A, 5.38%, 2/01/33

 

 

2,000

 

 

2,068,520

 

Herkimer County Industrial
Development Agency New York, RB,
College Foundation Inc. Student
Housing Project, 6.25%, 8/01/34

 

 

385

 

 

386,709

 

Nassau County Industrial Development
Agency, Refunding RB, New York
Institute of Technology Project,
Series A, 4.75%, 3/01/26

 

 

350

 

 

359,111

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Education (concluded)

 

 

 

 

 

 

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

Lycee Francais de New York
Project, Series A (ACA), 5.38%,
6/01/23

 

$

1,500

 

$

1,523,100

 

New York University Project (BHAC),
5.00%, 7/01/41

 

 

500

 

 

500,120

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

Brooklyn Law School, Series B
(Syncora), 5.13%, 7/01/30

 

 

2,000

 

 

2,080,300

 

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

 

 

500

 

 

549,550

 

Fordham University, Series A,
5.50%, 7/01/36

 

 

150

 

 

161,327

 

Rochester Institute of
Technology, Series A, 6.00%,
7/01/33

 

 

625

 

 

687,231

 

University of Rochester,
Series A, 5.13%, 7/01/39

 

 

250

 

 

262,068

 

New York State Dormitory Authority,
Refunding RB:

 

 

 

 

 

 

 

Brooklyn Law School, 5.75%,
7/01/33

 

 

250

 

 

269,885

 

Skidmore College, Series A,
5.25%, 7/01/29

 

 

200

 

 

217,576

 

Skidmore College, Series A,
5.25%, 7/01/31

 

 

300

 

 

322,185

 

Teachers College, 5.50%,
3/01/39

 

 

650

 

 

691,450

 

Suffolk County Industrial Development
Agency, Refunding RB, New York
Institute of Technology Project, 5.00%,
3/01/26

 

 

410

 

 

414,379

 

Tompkins County Development Corp.,
RB, Ithaca College Project (AGM),
5.50%, 7/01/33

 

 

450

 

 

486,027

 

Trust for Cultural Resources, RB,
Series A:

 

 

 

 

 

 

 

Carnegie Hall, 4.75%,
12/01/39

 

 

925

 

 

931,123

 

Juilliard School, 5.00%,
1/01/39

 

 

1,050

 

 

1,105,587

 

Yonkers Industrial Development Agency
New York, RB, Sarah Lawrence
College Project, Series A, 6.00%,
6/01/41

 

 

500

 

 

530,000

 

 

 

 

 

 

 

14,627,952

 

Health — 19.8%

 

 

 

 

 

 

 

Clarence Industrial Development
Agency, RB, Bristol Village Project
(Ginnie Mae), 6.00%, 1/20/44

 

 

1,650

 

 

1,697,751

 

Dutchess County Local Development
Corp., Refunding RB, Health Quest
System Inc., Series A, 5.75%,
7/01/40

 

 

300

 

 

307,122

 

 

 

 

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II

NOVEMBER 30, 2011

2


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust II (BFY)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Health (continued)

 

 

 

 

 

 

 

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

 

$

250

 

$

215,268

 

Monroe County Industrial Development
Corp., RB, Unity Hospital Rochester
Project (FHA), 5.50%, 8/15/40

 

 

425

 

 

458,384

 

New York City Industrial Development
Agency, RB, Eger Harbor Project,
Series A (Ginnie Mae), 5.88%,
5/20/44

 

 

975

 

 

1,028,849

 

New York State Dormitory Authority,
MRB, St. Barnabas, Series A (FHA),
5.00%, 2/01/31

 

 

1,000

 

 

1,004,840

 

New York State Dormitory Authority, RB:

 

 

 

 

 

 

 

Healthcare, Series A, 5.00%,
3/15/38

 

 

500

 

 

522,630

 

New York Hospital Medical
Center-Queens (FHA), 4.75%,
2/15/37

 

 

305

 

 

304,533

 

New York State Association for
Retarded Children, Inc., Series
A, 6.00%, 7/01/32

 

 

350

 

 

376,656

 

New York University Hospital
Center, Series A, 5.75%,
7/01/31

 

 

425

 

 

442,196

 

New York University Hospital
Center, Series A, 5.00%,
7/01/36

 

 

1,000

 

 

964,320

 

New York University Hospital
Center, Series B, 5.63%,
7/01/37

 

 

530

 

 

538,718

 

North Shore-Long Island
Jewish Health System,
Series A, 5.00%, 5/01/32

 

 

1,000

 

 

1,007,430

 

North Shore-Long Island
Jewish Health System,
Series A, 5.50%, 5/01/37

 

 

750

 

 

772,035

 

New York State Dormitory Authority,
Refunding RB:

 

 

 

 

 

 

 

Kateri Residence, 5.00%,
7/01/22

 

 

2,000

 

 

2,005,660

 

Mount Sinai Hospital,
Series A, 5.00%, 7/01/26

 

 

575

 

 

591,548

 

North Shore-Long Island
Jewish Health System,
Series E, 5.50%, 5/01/33

 

 

500

 

 

516,880

 

Saratoga County Industrial Development
Agency New York, RB, Saratoga
Hospital Project, Series B, 5.25%,
12/01/32

 

 

350

 

 

350,000

 

Suffolk County Industrial Development
Agency New York, Refunding RB,
Jeffersons Ferry Project, 5.00%,
11/01/28

 

 

450

 

 

422,577

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (continued)

 

 

 

 

 

 

 

Health (concluded)

 

 

 

 

 

 

 

Westchester County Healthcare Corp.
New York, Refunding RB, Senior Lien,
Series B, 6.00%, 11/01/30

 

$

150

 

$

160,793

 

Westchester County Industrial
Development Agency New York, MRB,
Kendal on Hudson Project, Series A,
6.38%, 1/01/24

 

 

750

 

 

750,045

 

 

 

 

 

 

 

14,438,235

 

Housing — 3.3%

 

 

 

 

 

 

 

New York City Housing Development
Corp., RB, Series J-2-A, AMT, 4.75%,
11/01/27

 

 

1,420

 

 

1,420,142

 

New York State HFA, RB, Highland
Avenue Senior Apartments, Series A,
AMT, (SONYMA), 5.00%, 2/15/39

 

 

1,000

 

 

979,530

 

 

 

 

 

 

 

2,399,672

 

State — 11.1%

 

 

 

 

 

 

 

New York City Transitional Finance
Authority, Future Tax Secured Bond,
RB, Series D, 5.00%, 11/01/38

 

 

825

 

 

871,893

 

New York Liberty Development Corp.,
RB, 4 World Trade Center Project:

 

 

 

 

 

 

 

5.00%, 11/15/31

 

 

1,000

 

 

1,034,070

 

5.75%, 11/15/51

 

 

670

 

 

711,185

 

New York State Dormitory Authority,
ERB:

 

 

 

 

 

 

 

Series B, 5.75%, 3/15/36

 

 

300

 

 

337,542

 

Series C, 5.00%, 12/15/31

 

 

500

 

 

528,015

 

New York State Dormitory Authority,
LRB, Municipal Health Facilities, Sub-
Series 2-4, 4.75%, 1/15/30

 

 

800

 

 

817,008

 

New York State Urban Development
Corp., RB, State Personal Income Tax,
Series B, 5.00%, 3/15/35

 

 

2,000

 

 

2,058,500

 

Onondaga Civic Development Corp., RB
Upstate Properties Development, Inc.,
5.25%, 12/01/41

 

 

1,165

 

 

1,180,378

 

State of New York, GO, Series A, 5.00%,
2/15/39

 

 

500

 

 

532,305

 

 

 

 

 

 

 

8,070,896

 

Tobacco — 5.4%

 

 

 

 

 

 

 

New York Counties Tobacco Trust III, RB,
Tobacco Settlement Pass-Thru, Turbo,
6.00%, 6/01/43

 

 

1,285

 

 

1,103,044

 

TSASC Inc. New York, RB, Tobacco
Settlement Asset-Backed, Series 1,
5.75%, 7/15/12 (d)

 

 

2,750

 

 

2,842,922

 

 

 

 

 

 

 

3,945,966

 

Transportation — 11.3%

 

 

 

 

 

 

 

Metropolitan Transportation Authority,
RB, Series 2008C, 6.50%, 11/15/28

 

 

750

 

 

877,777

 

Metropolitan Transportation Authority,
Refunding RB, Series A, 5.00%,
11/15/30

 

 

5,000

 

 

5,151,050

 

 

 

 

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II

NOVEMBER 30, 2011

3


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust II (BFY)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

Transportation (concluded)

 

 

 

 

 

 

 

Port Authority of New York & New Jersey,
RB:

 

 

 

 

 

 

 

JFK International Air Terminal,
6.00%, 12/01/42

 

$

1,000

 

$

1,045,090

 

Special Project, JFK
International Air Terminal,
Series 6 (NPFGC), AMT,
6.25%, 12/01/13

 

 

1,000

 

 

1,043,870

 

Triborough Bridge & Tunnel Authority,
RB, General Purpose, Series A, 5.00%,
1/01/12 (d)

 

 

150

 

 

150,620

 

 

 

 

 

 

 

8,268,407

 

Utilities — 16.4%

 

 

 

 

 

 

 

Long Island Power Authority, RB:

 

 

 

 

 

 

 

CAB (AGM), 5.25%, 6/01/28 (e)

 

 

3,515

 

 

1,755,953

 

General, Series A (AGM), 5.00%,
5/01/36

 

 

250

 

 

260,868

 

General, Series C (CIFG), 5.25%,
9/01/29

 

 

1,000

 

 

1,113,080

 

Long Island Power Authority, Refunding
RB, Series A, 5.50%, 4/01/24

 

 

500

 

 

563,250

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Second General Resolution,
Series HH, 5.00%, 6/15/32

 

 

1,500

 

 

1,609,365

 

Series B, 5.00%, 6/15/36

 

 

600

 

 

622,914

 

New York City Municipal Water Finance
Authority, Refunding RB, Series A,
5.13%, 6/15/34

 

 

4,000

 

 

4,075,760

 

New York State Environmental Facilities
Corp., RB, Revolving Funds, New York
City Municipal Water, 5.00%,
6/15/36

 

 

350

 

 

373,807

 

New York State Environmental Facilities
Corp., Refunding RB, Revolving Funds,
New York City Water Project, Series A,
5.00%, 6/15/37

 

 

1,500

 

 

1,597,110

 

 

 

 

 

 

 

11,972,107

 

Total Municipal Bonds in New York

 

 

 

 

 

99,999,156

 

Guam — 1.7%

 

 

 

 

 

 

 

State — 0.7%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A, 7.00%,
11/15/39

 

 

485

 

 

499,866

 

Tobacco — 0.4%

 

 

 

 

 

 

 

Guam Economic Development &
Commerce Authority, Refunding RB,
Tobacco Settlement Asset-Backed,
5.63%, 6/01/47

 

 

375

 

 

306,090

 

Utilities — 0.6%

 

 

 

 

 

 

 

Guam Government Waterworks
Authority, Refunding RB, Water,
5.88%, 7/01/35

 

 

400

 

 

394,204

 

Total Municipal Bonds in Guam

 

 

 

 

 

1,200,160

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Multi-State — 6.0%

 

 

 

 

 

 

 

Housing — 6.0%

 

 

 

 

 

 

 

Centerline Equity Issuer Trust (g)(h):

 

 

 

 

 

 

 

5.75%, 5/15/15

 

$

500

 

$

534,775

 

6.00%, 5/15/15

 

 

1,500

 

 

1,620,090

 

6.00%, 5/15/19

 

 

1,000

 

 

1,104,370

 

6.30%, 5/15/19

 

 

1,000

 

 

1,107,890

 

Total Municipal Bonds in Multi-State

 

 

 

 

 

4,367,125

 

Puerto Rico — 8.2%

 

 

 

 

 

 

 

Housing — 0.7%

 

 

 

 

 

 

 

Puerto Rico Housing Finance Authority,
Refunding RB, Subordinate, Capital
Fund Modernization, 5.13%,
12/01/27

 

 

500

 

 

521,030

 

State — 3.3%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB:

 

 

 

 

 

 

 

CAB, Series A, 6.40%,
8/01/32 (e)

 

 

750

 

 

213,585

 

First Sub-Series A, 6.50%,
8/01/44

 

 

1,000

 

 

1,129,820

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (e):

 

 

 

 

 

 

 

(AMBAC), 5.14%, 8/01/54

 

 

5,000

 

 

316,750

 

(NPFGC), 5.76%, 8/01/41

 

 

1,500

 

 

232,065

 

(NPFGC), 5.97%, 8/01/43

 

 

4,000

 

 

541,000

 

 

 

 

 

 

 

2,433,220

 

Tobacco — 0.6%

 

 

 

 

 

 

 

Children’s Trust Fund, Refunding RB,
Asset-Backed, 5.63%, 5/15/43

 

 

500

 

 

414,675

 

Transportation — 2.9%

 

 

 

 

 

 

 

Puerto Rico Highway & Transportation
Authority, Refunding RB:

 

 

 

 

 

 

 

Series CC (AGM), 5.50%,
7/01/30

 

 

1,000

 

 

1,087,980

 

Series D, 5.38%, 7/01/12 (d)

 

 

1,000

 

 

1,029,630

 

 

 

 

 

 

 

2,117,610

 

Utilities — 0.7%

 

 

 

 

 

 

 

Puerto Rico Electric Power Authority,
Refunding RB, Series W (NPFGC),
5.25%, 7/01/29

 

 

500

 

 

526,500

 

Total Municipal Bonds in Puerto Rico

 

 

 

 

 

6,013,035

 

Total Municipal Bonds – 153.0%

 

 

 

 

 

111,579,476

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

New York — 5.0%

 

 

 

 

 

 

 

County/City/Special District/School District — 3.1%

 

 

 

 

 

 

 

New York Convention Center
Development Corp., RB, Hotel Unit
Fee Secured (AMBAC), 5.00%,
11/15/35

 

 

2,250

 

 

2,285,437

 

 

 

 

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II

NOVEMBER 30, 2011

4


 

 

 

 

Schedule of Investments (continued)

BlackRock New York Municipal Income Trust II (BFY)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

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

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

Transportation — 1.5%

 

 

 

 

 

 

 

Port Authority of New York & New Jersey,
RB, Consolidated, 169th Series,
5.00%, 10/15/26

 

$

1,000

 

$

1,079,180

 

Utilities — 0.4%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB, Fiscal 2009, Series A,
5.75%, 6/15/40

 

 

240

 

 

269,179

 

Total Municipal Bonds Transferred to Tender Option
Bond (TOB) Trusts – 5.0%

 

 

 

 

 

3,633,796

 

Total Long-Term Investments
(Cost – $112,407,409) – 158.0%

 

 

 

 

 

115,213,272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

 

Shares

 

 

 

 

BIF New York Municipal Money Fund,
0.00% (j)(k)

 

 

3,027,758

 

 

3,027,758

 

Total Short-Term Securities
(Cost – $3,027,758) – 4.1%

 

 

 

 

 

3,027,758

 

Total Investments
(Cost - $115,435,167*) – 162.1%

 

 

 

 

 

118,241,030

 

Other Assets Less Liabilities – 1.2%

 

 

 

 

 

880,854

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (2.4)%

 

 

 

 

 

(1,785,172

)

AMPS, at Redemption Value – (60.9)%

 

 

 

 

 

(44,400,000

)

Net Assets Applicable to Common Shares– 100.0%

 

 

 

 

$

72,936,712

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of November 30, 2011, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

113,312,550

 

Gross unrealized appreciation

 

$

4,616,368

 

Gross unrealized depreciation

 

 

(1,472,628

)

Net unrealized appreciation

 

$

3,143,740

 

 

 

(a)

When-issued security. Unsettled when-issued transactions were as follows:


 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Morgan Keegan & Co., Inc.

 

$

493,640

 

$

5,000

 

Wells Fargo Bank, N.A.

 

$

991,510

 

$

2,410

 

 

 

(b)

Variable rate security. Rate shown is as of report date.

 

 

(c)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

 

(d)

US 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.

 

 

(e)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(f)

Non-income producing security.

 

 

(g)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

 

(h)

Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated maturity.

 

 

(i)

Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(j)

Investments in companies considered to be an affiliate of the Trust during the period, 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,
2011

 

Net
Activity

 

Shares
Held at
November 30,
2011

 

Income

 

 

BIF New York
Municipal
Money Fund

 

 

2,604,133

 

 

423,625

 

 

3,027,758

 

$

—

 

(k)

Represents the current yield as of report date.

 

 

 

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II

NOVEMBER 30, 2011

5


 

 

 

 

Schedule of Investments (concluded)

BlackRock New York Municipal Income Trust II (BFY)

 

 

 

•

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 Trust management. These definitions may not apply for purposes of this report, which may combine sector sub-classifications for reporting ease.

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

 

•

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

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)

 

 

 

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The categorization of a value determined for investments is based on the pricing transparency of the investment and does not necessarily correspond to the Trust’s perceived risk of investing in those securities. For information about the Trust’s policy regarding valuation of investments and other significant accounting policies, please refer to the Trust’s most recent financial statements as contained in its annual report.

 

 

 

The following table summarizes the inputs used as of November 30, 2011 in determining the fair valuation of the Trust’s investments:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

115,213,272

 

 

—

 

$

115,213,272

 

Short-Term
Securities

 

$

3,027,758

 

 

—

 

 

—

 

 

3,027,758

 

Total

 

$

3,027,758

 

$

115,213,272

 

 

—

 

$

118,241,030

 

 

 

1

See above Schedule of Investments for values in each sector.


 

 

 

 

 

 

 

 

 

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST II

NOVEMBER 30, 2011

6

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 II
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock New York Municipal Income Trust II
   
  Date: January 23, 2012
   
  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 II
   
  Date: January 23, 2012
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Municipal Income Trust II
     
  Date: January 23, 2012