Nuveen New York Municipal Value Fund, Inc.

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-05238

Nuveen New York Municipal Value Fund, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

    333 West Wacker Drive, Chicago, Illinois 60606    

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman

Vice President and Secretary

    333 West Wacker Drive, Chicago, Illinois 60606    

(Name and address of agent for service)

Registrant’s telephone number, including area code:    312-917-7700    

Date of fiscal year end: February 28

Date of reporting period: May 31, 2018

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 

 

 

Item 1. Schedule of Investments

 

 

NNY
Nuveen New York Municipal Value Fund, Inc.
Portfolio of Investments    as of May 31, 2018
(Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    LONG-TERM INVESTMENTS – 100.0% (100.0% of Total Investments)        
    MUNICIPAL BONDS – 100.0% (100.0% of Total Investments)        
    Consumer Staples  – 6.4% (6.4% of Total Investments)        
$ 1,000   Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005A, 5.000%, 6/01/38   8/18 at 100.00 BB+ $1,000,300
500   Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Refunding Series 2006A-2, 5.250%, 6/01/26   8/18 at 100.00 B- 500,095
2,875   Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2006A-3, 5.000%, 6/01/35   8/18 at 100.00 B- 2,874,943
    New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Series 2016A-1:        
890   5.625%, 6/01/35   No Opt. Call BBB 985,568
3,060   5.750%, 6/01/43   No Opt. Call BBB 3,390,388
230   TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.000%, 6/01/48   6/27 at 100.00 N/R 236,711
500   TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series B, 5.000%, 6/01/25   No Opt. Call B+ 553,335
9,055   Total Consumer Staples       9,541,340
    Education and Civic Organizations – 17.1% (17.1% of Total Investments)        
415   Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter Schools, Series 2007A, 5.000%, 4/01/37   8/18 at 100.00 B 378,567
750   Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Enterprise Charter School Project, Series 2011A, 7.500%, 12/01/40   12/20 at 100.00 B+ 785,542
1,250   Build New York City Resource Corporation, New York, Revenue Bonds, City University of New York - Queens College, Q Student Residences, LLC Project, Refunding Series 2014A, 5.000%, 6/01/43   6/24 at 100.00 Aa2 1,390,512
    Build New York City Resource Corporation, New York, Revenue Bonds, South Bronx Charter School for International Cultures and the Arts Project, Series 2013A:        
215   5.000%, 4/15/33   4/23 at 100.00 BB+ 222,676
310   5.000%, 4/15/43   4/23 at 100.00 BB+ 318,869
415   Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, Series 2013A, 5.000%, 7/01/44   7/23 at 100.00 A- 453,180
1,000   Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of Technology, Series 2007, 5.250%, 7/01/34  –  FGIC Insured   No Opt. Call Baa2 1,185,820
    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2015A:        
235   5.000%, 7/01/31   7/25 at 100.00 Aa3 267,484
265   5.000%, 7/01/33   7/25 at 100.00 Aa3 299,275
1

NNY Nuveen New York Municipal Value Fund, Inc. (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Education and Civic Organizations (continued)        
    Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A:        
$ 1,330   5.000%, 7/01/40   7/25 at 100.00 A- $1,460,154
2,180   5.000%, 7/01/45   7/25 at 100.00 A- 2,380,451
1,955   Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2015A, 5.000%, 7/01/45   7/25 at 100.00 A- 2,157,949
760   Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2015A, 5.000%, 7/01/35   7/25 at 100.00 Aa2 868,194
2,385   Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2016A, 5.000%, 7/01/39   7/26 at 100.00 Aa2 2,748,784
1,000   Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2018A, 5.000%, 7/01/40   7/28 at 100.00 Aa2 1,178,480
280   Dormitory Authority of the State of New York, Revenue Bonds, Saint Joseph's College, Series 2010, 5.250%, 7/01/35   7/20 at 100.00 Ba1 287,972
680   Dormitory Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics & Technology, Series 2016A, 5.500%, 12/01/36, 144A   12/26 at 100.00 BB- 687,806
580   Glen Cove Local Economic Assistance Corporation, New York, Revenue Bonds, Garvies Point Public Improvement Project, Capital Appreciation Series 2016C, 0.000%, 1/01/55 (4)   1/34 at 100.00 N/R 488,035
300   Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University Project, Series 2013, 5.000%, 9/01/43   9/23 at 100.00 A- 326,610
    Monroe County Industrial Development Corporation, New York, Revenue Bonds, St. John Fisher College, Series 2011:        
1,000   6.000%, 6/01/30   6/21 at 100.00 A- 1,104,240
1,000   6.000%, 6/01/34   6/21 at 100.00 A- 1,104,240
    New Rochelle Corporation, New York, Local Development Revenue Bonds, Iona College Project, Series 2015A:        
25   5.000%, 7/01/40   7/25 at 100.00 BBB 26,990
25   5.000%, 7/01/45   7/25 at 100.00 BBB 26,861
    New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball Stadium Project, Series 2006:        
1,500   5.000%, 1/01/39  –  AMBAC Insured   8/18 at 100.00 BBB 1,518,900
1,175   4.750%, 1/01/42  –  AMBAC Insured   8/18 at 100.00 BBB 1,175,775
    New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium Project, Series 2006:        
1,610   4.500%, 3/01/39  –  FGIC Insured   8/18 at 100.00 Baa1 1,611,401
800   4.750%, 3/01/46  –  NPFG Insured   8/18 at 100.00 Baa1 800,592
300   Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2010A, 5.125%, 9/01/40   9/20 at 100.00 A3 314,574
23,740   Total Education and Civic Organizations       25,569,933
    Financials – 0.9% (0.9% of Total Investments)        
1,000   New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue, Series 2007, 5.500%, 10/01/37   No Opt. Call A 1,295,650
2

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Health Care – 1.0% (1.0% of Total Investments)        
$ 350   Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds, Series 2010, 5.000%, 7/01/26   7/20 at 100.00 A $369,106
290   Livingston County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Nicholas H. Noyes Hospital, Series 2005, 6.000%, 7/01/30   8/18 at 100.00 BB 293,074
250   Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28   7/21 at 100.00 A- 270,387
480   Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, Series 2001A, 7.125%, 7/01/31   7/18 at 100.00 BB- 480,322
150   Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, Series 2001B, 7.125%, 7/01/31   8/18 at 100.00 BB- 150,101
1,520   Total Health Care       1,562,990
    Housing/Multifamily – 1.6% (1.6% of Total Investments)        
155   East Syracuse Housing Authority, New York, FHA-Insured Section 8 Assisted Revenue Refunding Bonds, Bennet Project, Series 2001A, 6.700%, 4/01/21   10/18 at 100.00 AA 155,485
1,000   New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2009C-1, 5.500%, 11/01/34   5/19 at 100.00 AA+ 1,025,290
1,250   New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2009M, 5.150%, 11/01/45   5/19 at 100.00 AA+ 1,267,563
2,405   Total Housing/Multifamily       2,448,338
    Industrials – 2.0% (2.0% of Total Investments)        
425   Build New York City Resource Corporation, New York, Solid Waste Disposal Revenue Bonds, Pratt Paper NY, Inc. Project, Series 2014, 5.000%, 1/01/35 (Alternative Minimum Tax), 144A   1/25 at 100.00 N/R 459,034
2,350   New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 5.000%, 11/15/44, 144A   11/24 at 100.00 N/R 2,498,802
2,775   Total Industrials       2,957,836
    Long-Term Care – 0.4% (0.4% of Total Investments)        
270   Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31   8/18 at 100.00 A3 270,316
235   Suffolk County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special Needs Facilities Pooled Program, Series 2008-B1, 5.800%, 7/01/23   7/18 at 100.00 N/R 181,201
225   Yonkers Industrial Development Agency, New York, Civic Facilities Revenue Bonds, Special Needs Facilities Pooled Program Bonds, Series 2008-C1, 5.800%, 7/01/23   7/18 at 100.00 N/R 222,080
730   Total Long-Term Care       673,597
    Tax Obligation/General – 3.1% (3.1% of Total Investments)        
1,000   New York City, New York, General Obligation Bonds, Fiscal 2014 Series A-1, 5.000%, 8/01/26   8/23 at 100.00 AA 1,132,150
3,090   New York City, New York, General Obligation Bonds, Fiscal 2017 Series B-1, 5.000%, 12/01/41   12/26 at 100.00 AA 3,547,753
4,090   Total Tax Obligation/General       4,679,903
3

NNY Nuveen New York Municipal Value Fund, Inc. (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Tax Obligation/Limited – 15.9% (15.9% of Total Investments)        
    Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue Bonds, City University System, Series 1993A:        
$ 220   5.750%, 7/01/18   No Opt. Call AA $220,733
1,400   6.000%, 7/01/20   No Opt. Call AA 1,487,948
2,290   Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012D, 5.000%, 2/15/37   2/22 at 100.00 AAA 2,499,375
640   Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2015B. Group A,B&C, 5.000%, 3/15/35   9/25 at 100.00 AAA 733,037
2,500   Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/28   11/25 at 100.00 A 2,723,400
1,000   New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2018, Series 2017S-3, 5.250%, 7/15/45   7/28 at 100.00 AA 1,191,150
1,500   New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2009-S5, 5.250%, 1/15/39   1/19 at 100.00 AA 1,530,495
3,000   New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-2, 5.000%, 7/15/40   7/25 at 100.00 AA 3,389,910
1,680   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2013 Series I, 5.000%, 5/01/38   5/23 at 100.00 AAA 1,867,908
1,225   New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2014 Series D-1, 5.000%, 2/01/35   2/24 at 100.00 AAA 1,373,935
2,450   New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2005B, 5.500%, 4/01/20  –  AMBAC Insured (UB) (5)   No Opt. Call AA+ 2,616,992
600   New York State Urban Development Corporation, Special Project Revenue Bonds, University Facilities Grants, Series 1995, 5.875%, 1/01/21   No Opt. Call AA 643,134
15,000   Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/43  –  NPFG Insured   No Opt. Call Baa2 3,562,200
33,505   Total Tax Obligation/Limited       23,840,217
    Transportation – 22.1% (22.1% of Total Investments)        
2,500   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2015D-1, 5.000%, 11/15/30   11/25 at 100.00 AA- 2,874,600
815   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2012E, 5.000%, 11/15/42   11/22 at 100.00 A+ 893,403
2,000   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2014B, 5.250%, 11/15/38   5/24 at 100.00 AA- 2,266,700
5,000   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1, 5.000%, 11/15/34   11/26 at 100.00 AA- 5,733,200
1,500   New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007, 5.875%, 10/01/46 (6)   10/37 at 100.00 N/R 510,000
660   New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011, 5.000%, 11/15/44   11/21 at 100.00 A+ 711,896
4

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Transportation (continued)        
    New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Refunding Series 2016:        
$ 765   5.000%, 8/01/26 (Alternative Minimum Tax)   8/21 at 100.00 BB $809,561
2,020   5.000%, 8/01/31 (Alternative Minimum Tax)   8/21 at 100.00 BB 2,132,050
2,630   New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, 5.000%, 7/01/46 (Alternative Minimum Tax)   7/24 at 100.00 BBB 2,854,628
5,900   Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Ninth Series 2015, 5.000%, 5/01/40   5/25 at 100.00 AA- 6,650,775
1,575   Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Ninth Series 2013, 5.000%, 12/01/43   12/23 at 100.00 AA- 1,763,008
    Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010:        
225   6.500%, 12/01/28   8/18 at 100.00 Baa1 235,622
1,160   6.000%, 12/01/36   12/20 at 100.00 Baa1 1,272,822
1,165   Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2018A, 4.000%, 11/15/48   5/28 at 100.00 AA- 1,219,545
2,000   Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Series 2016A, 5.000%, 11/15/41   5/26 at 100.00 AA- 2,291,600
780   Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Subordinate Lien Series 2002E, 5.500%, 11/15/20  –  NPFG Insured   No Opt. Call A+ 847,805
30,695   Total Transportation       33,067,215
    U.S. Guaranteed – 12.7% (12.7% of Total Investments) (7)        
1,350   Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009, 6.250%, 7/15/40 (Pre-refunded 1/15/20)   1/20 at 100.00 AA+ 1,447,119
    Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group Revenue Bonds, Series 2008:        
875   6.500%, 12/01/21 (Pre-refunded 12/01/18)   12/18 at 100.00 Baa3 895,869
565   6.125%, 12/01/29 (Pre-refunded 12/01/18)   12/18 at 100.00 Baa3 577,583
1,155   6.250%, 12/01/37 (Pre-refunded 12/01/18)   12/18 at 100.00 Baa3 1,181,426
525   Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 2010, 5.250%, 7/01/30 (Pre-refunded 7/01/20)   7/20 at 100.00 A- 560,721
2,100   Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series 2011A, 6.000%, 7/01/40 (Pre-refunded 7/01/20)   7/20 at 100.00 A- 2,274,783
880   Hempstead Town Local Development Corporation, New York, Revenue Bonds, Molloy College Project, Series 2009, 5.750%, 7/01/39 (Pre-refunded 7/01/19)   7/19 at 100.00 N/R 918,562
400   Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/38 (Pre-refunded 5/01/21)   5/21 at 100.00 A- 435,392
1,500   Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2009B, 5.000%, 11/15/34 (Pre-refunded 11/15/19)   11/19 at 100.00 AA 1,571,115
2,685   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2012E, 5.000%, 11/15/42 (Pre-refunded 11/15/22)   11/22 at 100.00 A1 3,039,554
5

NNY Nuveen New York Municipal Value Fund, Inc. (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    U.S. Guaranteed (7) (continued)        
$ 1,100   Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E, 5.000%, 11/15/31 (Pre-refunded 11/15/23)   11/23 at 100.00 AA- $1,271,347
3,000   Monroe County Industrial Development Corporation, New York, Revenue Bonds, University of Rochester Project, Series 2011B, 5.000%, 7/01/41 (Pre-refunded 7/01/21)   7/21 at 100.00 AA- 3,284,010
115   New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special Needs Facilities Pooled Program, Series 2008A-1, 5.500%, 7/01/18 (Pre-refunded 6/13/18)   6/18 at 100.50 N/R 114,963
45   Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28 (Pre-refunded 7/01/21)   7/21 at 100.00 N/R 49,119
1,345   Tompkins County Development Corporation, New York, Revenue Bonds, Ithaca College, Series 2011, 5.375%, 7/01/41 (Pre-refunded 1/01/21)  –  AGM Insured   1/21 at 100.00 A2 1,461,544
17,640   Total U.S. Guaranteed       19,083,107
    Utilities – 8.2% (8.2% of Total Investments)        
1,000   Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, NRG Dunkirk Power Project, Series 2009, 5.875%, 4/01/42   2/20 at 100.00 Baa3 1,040,190
90   Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34   10/22 at 100.00 BBB 95,630
135   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 5.000%, 9/01/44   9/24 at 100.00 A- 150,015
475   Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2017, 5.000%, 9/01/42   9/27 at 100.00 A- 544,549
1,250   Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A, 5.000%, 9/01/37   9/22 at 100.00 A- 1,370,225
2,490   Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42 (Alternative Minimum Tax), 144A   8/18 at 100.00 BB+ 2,491,693
350   Suffolk County Industrial Development Agency, New York, Revenue Bonds, Nissequogue Cogeneration Partners Facility, Series 1998, 5.500%, 1/01/23 (Alternative Minimum Tax)   7/18 at 100.00 N/R 350,137
    Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE:        
4,440   5.000%, 12/15/34   12/23 at 100.00 AAA 5,022,217
1,100   5.000%, 12/15/41   12/23 at 100.00 AAA 1,235,773
11,330   Total Utilities       12,300,429
    Water and Sewer – 8.6% (8.6% of Total Investments)        
300   Buffalo Municipal Water Finance Authority, New York, Water System Revenue Bonds, Refunding Series 2015A, 5.000%, 7/01/29   7/25 at 100.00 A 342,915
    New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution Subordinated SRF Series 2015A:        
2,100   5.000%, 6/15/36   6/25 at 100.00 AAA 2,413,194
2,500   5.000%, 6/15/40   6/25 at 100.00 AAA 2,860,775
6

Principal Amount (000)   Description (1)   Optional Call Provisions (2) Ratings (3) Value
    Water and Sewer (continued)        
$ 1,000   New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds, Subordinated SRF Series 2017A, 5.000%, 6/15/46   6/27 at 100.00 AAA $1,162,330
4,300   New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds, Subordinated SRF Series 2017E, 5.000%, 6/15/42   6/27 at 100.00 AAA 5,012,854
1,000   New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Series 2012B, 5.000%, 2/15/42   2/22 at 100.00 AAA 1,089,950
11,200   Total Water and Sewer       12,882,018
$ 149,685   Total Long-Term Investments (cost $143,827,431)       149,902,573
    Floating Rate Obligations – (1.2)%       (1,840,000)
    Other Assets Less Liabilities – 1.2%       1,797,807
    Net Asset Applicable to Common Shares – 100%       $ 149,860,380
Fair Value Measurements
Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1  –     Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2  –     Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3  –     Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
  Level 1 Level 2 Level 3 Total
Long-Term Investments:        
Municipal Bonds $ — $149,902,573 $ — $149,902,573
7

NNY Nuveen New York Municipal Value Fund, Inc. (continued)
  Portfolio of Investments as of May 31, 2018
  (Unaudited)
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
The table below presents the cost and unrealized appreciation (depreciation) of the Fund's investment portfolio, as determined on a federal income tax basis, as of May 31, 2018.
Tax cost of investments $141,760,532
Gross unrealized:  
Appreciation $ 7,219,585
Depreciation (918,219)
Net unrealized appreciation (depreciation) of investments $ 6,301,366
(1) All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.  
(2) Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.  
(3) For financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.  
(4) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.  
(5) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.  
(6) As of, or subsequent to, the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has ceased accruing additional income on the Fund’s records.  
(7) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.  
144A Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.  
UB Underlying bond of an inverse floating rate trust reflected as a financing transaction.  
8

Item 2. Controls and Procedures.

 

  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”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

  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.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 

 

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)    Nuveen New York Municipal Value Fund, Inc.   
By (Signature and Title)    /s/ Gifford R. Zimmerman                                                       
   Gifford R. Zimmerman   
   Vice President and Secretary   

Date: July 30, 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 (Signature and Title)    /s/ Cedric H. Antosiewicz                                                        
   Cedric H. Antosiewicz   
   Chief Administrative Officer (principal executive officer)   
Date: July 30, 2018      
By (Signature and Title)    /s/ Stephen D. Foy                                                                    
   Stephen D. Foy   
   Vice President and Controller (principal financial officer)   
Date: July 30, 2018