As filed with the Securities and Exchange Commission on September 29, 2008
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21169
NEUBERGER BERMAN NEW YORK INTERMEDIATE MUNICIPAL FUND INC.
----------------------------------------------------------
(Exact Name of the Registrant as Specified in Charter)
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
(Address of Principal Executive Offices - Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Peter E. Sundman, Chief Executive Officer
Neuberger Berman New York Intermediate Municipal Fund Inc.
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
Arthur Delibert, Esq.
K&L Gates LLP
1601 K Street, N.W.
Washington, D.C. 20006-1600
(Names and addresses of agents for service)
Date of fiscal year end: October 31, 2008
Date of reporting period: July 31, 2008
Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission not later than 60 days after
the close of their first and third fiscal quarters, pursuant to rule 30b1-5
under the Investment Company Act of 1940 ("1940 Act") (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
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. section. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc
-------------------------------------------------------------------------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
ARIZONA (0.6%)
500 Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2003, 6.15%, due 7/15/17 506
CALIFORNIA (1.3%)
1,000 Santa Rosa Rancheria Tachi Yokut Tribe Enterprise Rev., Ser.
2003, 6.13%, due 3/1/13 997
FLORIDA (0.7%)
500 Miami Beach Hlth. Fac. Au. Hosp. Ref. Rev. (Mount Sinai Med. Ctr.
of Florida Proj.), Ser. 2004, 6.25%, due 11/15/09 510(B)
GUAM (0.6%)
500 Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2005,
5.50%, due 7/1/16 502
LOUISIANA (2.4%)
1,000 Morehouse Parish Ref. PCR (Int'l Paper Co. Proj.), Ser. 2001 A,
5.25%, due 11/15/13 981(B)
1,000 Tobacco Settlement Fin. Corp. Tobacco Settlement Asset-Backed
Rev., Ser. 2001 B, 5.50%, due 5/15/30 904
------
1,885
NEW YORK (145.6%)
3,000 Albany IDA Civic Fac. Rev. (Charitable Leadership Foundation Ctr.
for Med. Science Proj.), Ser. 2002 A, 6.00%, due 7/1/19 3,010
1,000 Buffalo & Fort Erie Pub. Bldg. Au. Toll Bridge Sys. Rev., Ser.
2005, (LOC: Bank of Nova Scotia), 4.00%, due 1/1/25 Putable 7/1/10 1,024(u)
500 Cattaraugus Co. IDA (St. Bonaventure Univ. Proj.), Ser. 2006 A,
5.00%, due 5/1/23 471(B)
1,000 Dutchess Co. IDA Civic Fac. Ref. Rev. (Marist College Proj.),
Ser. 2003 A, 5.15%, due 7/1/17 1,041(B)
2,000 Dutchess Co. IDA Ind. Dev. Rev. (IBM Proj.), Ser. 1999, 5.45%,
due 12/1/29 Putable 12/1/09 2,064(B)
500 Essex Co. IDA Solid Waste Disp. Rev. (Int'l Paper Co. Proj.),
Ser. 2005 A, 5.20%, due 12/1/23 427(B)
2,000 Long Island Pwr. Au. Elec. Sys. Gen. Rev., Ser. 1998 A, (FSA
Insured), 5.50%, due 12/1/13 2,237
1,050 Long Island Pwr. Au. Elec. Sys. Gen. Rev., Ser. 2006 E, (FGIC
Insured), 5.00%, due 12/1/21 1,097
1,135 Lyons Comm. Hlth. Initiatives Corp. Fac. Rev., Ser. 2004, 5.50%,
due 9/1/14 1,230
750 Madison Co. IDA Civic Fac. Rev. (Oneida Hlth. Sys., Inc. Proj.),
Ser. 2007, 5.25%, due 2/1/27 691(B)
2,000 Metro. Trans. Au. Ref. Rev., Ser. 2002 A, (AMBAC Insured), 5.50%,
due 11/15/15 2,141
1,000 Monroe Co. IDA Civic Fac. Rev. (Highland Hosp. Rochester), Ser.
2005, 5.00%, due 8/1/15 1,024(B)
980 Monroe Co. IDA Std. Hsg. Rev. (Collegiate Hsg. Foundation -
Rochester Institute of Technology Proj.), Ser. 1999 A, 5.25%, due
4/1/19 957(B)
1,000 Monroe Co. Newpower Corp. Pwr. Fac. Rev., Ser. 2003, 5.10%, due
1/1/16 1,016
1,000 Monroe Co. Pub. Imp. Ref. G.O., Ser. 1996, 6.00%, due 3/1/13 1,088
1,125 Nassau Co. IDA Continuing Care Retirement Comm. Rev. (The
Amsterdam Harborside), Ser. 2007 A, 5.88%, due 1/1/18 1,122(B)
1,000 New York City G.O., Ser. 2002 A, 5.75%, due 8/1/16 1,089
750 New York City G.O., Ser. 2002 C, 5.50%, due 8/1/15 811
1,410 New York City Hlth. & Hosp. Corp. Rev., Ser. 2002 A, (FSA
Insured), 5.50%, due 2/15/13 1,514(B)
4,000 New York City Hsg. Dev. Corp. Multi-Family Hsg. Rev., Ser. 2002
E-2, 5.05%, due 11/1/23 3,884
1,000 New York City IDA Civic Fac. Rev. (Lycee Francais de New York
Proj.), Ser. 2002 A, (ACA Insured), 5.50%, due 6/1/15 1,016(B)
See Notes to Schedule of Investments
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc (cont'd)
-------------------------------------------------------------------------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
1,030 New York City IDA Civic Fac. Rev. (Lycee Francais de New York
Proj.), Ser. 2002 A, (ACA Insured), 5.50%, due 6/1/17 1,038(B)
100 New York City IDA Civic Fac. Rev. (Lycee Francais de New York
Proj.), Ser. 2002-B, (LOC: JP Morgan Chase), 1.95%, due 8/1/08 100(u)(B)
2,920 New York City IDA Civic Fac. Rev. (Packer Collegiate Institute
Proj.), Ser. 2002, (AMBAC Insured), 5.00%, due 6/1/22 2,988(B)
750 New York City IDA Civic Fac. Rev. (Vaughn College of Aeronautics
and Technology), Ser. 2006 A, 5.00%, due 12/1/21 660(B)
1,000 New York City IDA IDR (Brooklyn Navy Yard Cogeneration Partners,
L.P. Proj.), Ser. 1997, 6.20%, due 10/1/22 1,074(B)
750 New York City IDA Liberty Rev. (7 World Trade Ctr., LLC Proj.),
Ser. 2005 A, 6.25%, due 3/1/15 756
2,000 New York City IDA Spec. Fac. Rev. (Term. One Group Assoc. Proj.)
Ser. 2005, 5.50%, due 1/1/19 Putable 1/1/16 2,060(u)(B)
960 New York City Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev., Ser.
1992 A, (AMBAC Insured), 5.88%, due 6/15/13 1,083
4,000 New York City Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev., Ser.
2002 D, 5.25%, due 6/15/15 4,246
3,000 New York City Transitional Fin. Au. Ref. Rev., Ser. 2002 B,
5.25%, due 2/1/29 3,153
2,025 New York City Transitional Fin. Au. Ref. Rev., Ser. 2002 C,
(AMBAC Insured), 5.25%, due 8/1/17 2,142
750 New York Liberty Dev. Corp. Rev. (Nat'l Sports Museum Proj.),
Ser. 2006 A, 6.13%, due 2/15/19 723
2,000 New York St. Dorm. Au. Court Fac. Lease Rev. (New York City
Issue), Ser. 2003 A, 5.50%, due 5/15/17 Pre-Refunded 5/15/13 2,219
1,675 New York St. Dorm. Au. Insured Rev. (Long Island Univ.), Ser.
2003 A, (Radian Insured), 5.25%, due 9/1/15 1,741(B)
1,600 New York St. Dorm. Au. Insured Rev. (The Culinary Institute of
America), Ser. 1999, (MBIA Insured), 5.38%, due 7/1/15 1,640(B)
3,000 New York St. Dorm. Au. Ref. Rev. (North Gen. Hosp. Proj.), Ser.
2003, 5.75%, due 2/15/17 3,192(B)
1,125 New York St. Dorm. Au. Rev. (City Univ. Sys. Proj.), Ser. 1995 A,
5.63%, due 7/1/16 1,236
1,010 New York St. Dorm. Au. Rev. (Columbia Univ. Proj.), Ser. 2001 A,
5.25%, due 7/1/16 Pre-Refunded 7/1/11 1,093(B)
2,985 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/14 3,094(B)
2,000 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/16 2,052(B)
2,000 New York St. Dorm. Au. Rev. (Mount Sinai NYU Hlth.), Ser. 2000 C,
5.50%, due 7/1/26 2,000(B)
1,980 New York St. Dorm. Au. Rev. (New York Med. College Proj.), Ser.
1998, (MBIA Insured), 5.00%, due 7/1/21 2,001(B)
525 New York St. Dorm. Au. Rev. (New York Methodist Hosp.), Ser.
2004, 5.25%, due 7/1/18 531(B)
500 New York St. Dorm. Au. Rev. (North Shore-Long Island Jewish
Oblig. Group), Ser. 2003, 5.00%, due 5/1/18 508(B)
2,855 New York St. Dorm. Au. Rev. (Rivington House Hlth. Care Fac.),
Ser. 2002, (SONYMA Insured), 5.25%, due 11/1/15 2,962(B)
2,410 New York St. Dorm. Au. Rev. (Rochester Institute of
Technology Proj.), Ser. 2002 A, (AMBAC Insured), 5.25%, due 7/1/19 2,520(B)
3,000 New York St. Dorm. Au. Rev. (SS Joachim & Anne Residence Proj.),
Ser. 2002, (LOC: Allied Irish Bank), 4.60%, due 7/1/16 2,958
900 New York St. Dorm. Au. Rev. Non St. Supported Debt (Montefiore
Med. Ctr.), Ser. 2008, (FHA Insured), 5.00%, due 8/1/21 935(B)
1,000 New York St. Dorm. Au. Rev. Non St. Supported Debt (NYU Hosp.
Ctr.), Ser. 2006 A, 5.00%, due 7/1/20 972(B)
1,135 New York St. Dorm. Au. Rev. Non St. Supported Debt (NYU Hosp.
Ctr.), Ser. 2007 B, 5.25%, due 7/1/24 1,103(B)
250 New York St. Dorm. Au. Rev. Secured Hosp. Ref. Rev. (Brookdale
Hosp. Med. Ctr.), Ser. 1998 J, 5.20%, due 2/15/16 253(B)
See Notes to Schedule of Investments
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc (cont'd)
-------------------------------------------------------------------------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
3,900 New York St. Dorm. Au. Rev. St. Personal Income Tax Rev., Ser.
2003 A, 5.38%, due 3/15/17 Pre-Refunded 3/15/13 4,292
5,000 New York St. Energy Res. & Dev. Au. Fac. Rev. (Consolidated
Edison Co. of New York, Inc. Proj.), Ser. 2001, 4.70%, due 6/1/36
Putable 10/1/12 4,990(u)(B)
1,500 New York St. Env. Fac. Corp. Solid Waste Disp. Rev. (Waste
Management, Inc. Proj.), Ser. 2004 A, 4.45%, due 7/1/17 Putable
7/1/09 1,502(u)(B)
1,000 New York St. Env. Fac. Corp. St. Clean Wtr. & Drinking Wtr. Rev.
Ser. 2008-B, 5.00%, due 6/15/28 1,026
2,000 New York St. Mtge. Agcy. Homeowner Mtge. Rev., Ser. 1997-67,
5.70%, due 10/1/17 2,016
2,000 New York St. Pwr. Au. Rev., Ser. 2002 A, 5.25%, due 11/15/16
Pre-Refunded 11/15/12 2,194
250 New York St. Urban Dev. Corp. Correctional & Youth Fac. Svc.
Rev., Ser. 2002 C, 4.00%, due 1/1/20 Putable 1/1/11 256(u)
2,000 Niagara Co. IDA Civic Fac. Rev. (Niagara Univ. Proj.), Ser. 2001
A, (Radian Insured), 5.50%, due 11/1/16 2,080(B)
2,500 Niagara Co. IDA Solid Waste Disp. Fac. Ref. Rev. (American
Ref.-Fuel Co. of Niagara), Ser. 2001 C, 5.63%, due 11/15/24
Putable 11/15/14 2,499(u)(B)
3,000 Port Authority of NY & NJ Rev., Ser. 2002, (AMBAC Insured),
5.50%, due 12/15/12 3,199
1,000 Saratoga Co. IDA Civic Fac. Rev. (Saratoga Hosp. Proj.), Ser.
2007 B, 5.00%, due 12/1/22 957(B)
3,000 Triborough Bridge & Tunnel Au. Gen. Purp. Ref. Rev., Ser. 2002 B,
5.25%, due 11/15/18 3,168
1,535 Ulster Co. Res. Rec. Agcy. Solid Waste Sys. Ref. Rev., Ser. 2002,
(AMBAC Insured), 5.25%, due 3/1/16 1,631
500 United Nations Dev. Corp. Sr. Lien. Ref. Rev., Ser. 2004 A,
5.25%, due 7/1/17 501
1,000 Westchester Co. IDA Continuing Care Retirement Comm. Rev. (Kendal
on Hudson Proj.), Ser. 2003 B, 5.70%, due 1/1/34 Putable 1/1/10 1,012(u)(B)
1,000 Yonkers IDA Civic Fac. Rev. (Comm. Dev. Properties-Yonkers,
Inc.), Ser. 2001 A, 6.25%, due 2/1/16 Pre-Refunded 2/1/11 1,075(B)
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114,385
PENNSYLVANIA (2.1%)
1,590 Cumberland Co. West Shore Area Au. Hosp. Rev. (Holy Spirit Hosp.
of the Sisters of Christian Charity Proj.), Ser. 2001, 5.90%, due
1/1/17 1,623(B)
PUERTO RICO (3.3%)
845 Puerto Rico Children's Trust Tobacco Settlement Asset-Backed
Rev., Ser. 2002, 5.38%, due 5/15/33 753
800 Puerto Rico Commonwealth Hwy. & Trans. Au. Trans. Rev., Ser. 2008
2391, (AMBAC Insured), 2.44%, due 8/7/08 800(u)
1,060 Puerto Rico Ind. Tourist Ed. Med. & Env. Ctrl. Fac. Rev.
(Polytechnic Univ. of Puerto Rico Proj.), Ser. 2002 A, (ACA
Insured), 5.25%, due 8/1/16 1,056(B)
------
2,609
TEXAS (1.5%)
800 Brazos River Au. Ref. PCR (TXU Energy Co. LLC Proj.), Ser. 2003
A, 6.75%, due 4/1/38 Putable 4/1/13 753(u)(B)
400 Dallas-Fort Worth Int'l Arpt. Fac. Imp. Corp. Rev., Ser. 2004 A1,
6.15%, due 1/1/16 393(B)
------
1,146
VIRGIN ISLANDS (1.3%)
250 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (HOVENSA
Refinery), Ser. 2003, 6.13%, due 7/1/22 248
750 Virgin Islands Pub. Fin. Au. Rev. (Virgin Islands Matching Fund
Loan Notes), Ser. 1998 E, 6.00%, due 10/1/22 758
------
1,006
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc (cont'd)
-------------------------------------------------------------------------------------------------------------------------------
(UNAUDITED)
PRINCIPAL AMOUNT SECURITY(@) VALUE(+)
($000's omitted) ($000's omitted)
TOTAL INVESTMENTS (159.4%) (COST $125,058) 125,169(##)
Cash, receivables and other assets, less liabilities (2.0%) 1,619
Liquidation Value of Auction Market Preferred Shares [(61.4%)] (48,250)
TOTAL NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS (100.0%) $78,538
See Notes to Schedule of Investments
JULY 31, 2008 (UNAUDITED)
NOTES TO SCHEDULE OF INVESTMENTS
--------------------------------
(+) Investments in securities by Neuberger Berman California Intermediate
Municipal Fund Inc. ("California"), Neuberger Berman Intermediate
Municipal Fund Inc. ("Intermediate"), and Neuberger Berman New York
Intermediate Municipal Fund Inc. ("New York") (individually a "Fund", and
collectively, the "Funds") are valued daily by obtaining valuations from
independent pricing services based on readily available bid quotations, or
if quotations are not available, by methods which include considerations
such as: yields or prices of securities of comparable quality, coupon,
maturity and type; indications as to values from dealers; and general
market conditions. If a valuation is not available from an independent
pricing service, the Funds seek to obtain quotations from principal market
makers. If such quotations are not readily available, securities are
valued using methods each Fund's Board of Directors has approved on the
belief that they reflect fair value. Numerous factors may be considered
when determining the fair value of a security, including available
analyst, media or other reports, trading in futures or ADRs and whether
the issuer of the security being fair valued has other securities
outstanding. Short-term debt securities with less than 60 days until
maturity may be valued at cost which, when combined with interest earned,
approximates market value.
(##) At July 31, 2008, selected Fund information on a U.S. federal income tax
basis was as follows:
(000'S OMITTED) NET
NEUBERGER BERMAN GROSS GROSS UNREALIZED
UNREALIZED UNREALIZED APPRECIATION
COST APPRECIATION DEPRECIATION (DEPRECIATION)
CALIFORNIA $153,500 $1,999 $2,075 $(76)
INTERMEDIATE 470,025 8,420 6,659 1,761
NEW YORK 125,058 1,509 1,398 111
(@) At time of investment, municipal securities purchased by the Funds are
within the four highest rating categories (with respect to at least 80% of
total assets) assigned by a nationally recognized statistical rating
organization ("NRSRO") such as Moody's Investors Service, Inc., Standard &
Poor's Ratings Services, or Fitch, Inc. or, where not rated, are
determined by the Funds' investment manager to be of comparable quality.
Approximately 77%, 71%, and 66% of the municipal securities held by
California, Intermediate, and New York, respectively, have credit
enhancement features backing them, which the Funds may rely on, such as
letters of credit, insurance, or guarantees. Without these credit
enhancement features the securities may or may not meet the quality
standards of the Funds. Pre-refunded bonds are supported by securities in
escrow issued or guaranteed by the U.S. Government, its agencies, or
instrumentalities. The amount escrowed is sufficient to pay the periodic
interest due and the principal of these bonds. Putable bonds give the
Funds the right to sell back the issue on the date specified.
(B) Security is guaranteed by the corporate or non-profit obligor.
(OO) All or a portion of this security is segregated as collateral for
when-issued purchase commitments.
(u) Floating rate securities are securities whose yields vary with a
designated market index or market rate. These securities are shown at
their current rates as of July 31, 2008.
For information on the Funds' significant accounting policies, please refer to
the Funds' most recent financial statements.
JULY 31, 2008 (UNAUDITED)
(a) Security is subject to a guarantee provided by Bayerische Landesbank,
backing 100% of the total principal.
For information on the Funds' significant accounting policies, please refer to
the Funds' most recent financial statements.
ITEM 2. CONTROLS AND PROCEDURES.
On September 15, 2008 Lehman Brothers Holdings Inc., a publicly owned
holding company which wholly owns Neuberger Berman Management LLC, Neuberger
Berman, LLC and Lehman Brothers Asset Management LLC, filed a voluntary petition
under Chapter 11 of the U.S. Bankruptcy Code.
On September 29, 2008 it was announced that Bain Capital Partners, LLC and
Hellman & Friedman LLC agreed to acquire, subject to certain approvals including
the Lehman Brothers Holdings Inc. bankruptcy court approval, Neuberger Berman
and the fixed income and certain alternative asset management businesses of
Lehman Brothers' Investment Management Division, in a cash transaction with
Lehman Brothers Holdings Inc.
In the meantime, Neuberger Berman Management LLC, Neuberger Berman, LLC and
Lehman Brothers Asset Management LLC will continue to operate in the ordinary
course of business as the investment manager/sub-adviser of the Neuberger
Berman/Lehman Brothers Funds.
(a) Based on an evaluation of the disclosure controls and procedures (as
defined in rule 30a-3(c) under the 1940 Act) as of a date within 90
days of the filing date of this document, the Chief Executive Officer
and Treasurer and Principal Financial and Accounting Officer of the
Registrant have concluded that such disclosure controls and procedures
are effectively designed to ensure that information required to be
disclosed by the Registrant on Form N-CSR and Form N-Q is accumulated
and communicated to the Registrant's management to allow timely
decisions regarding required disclosure.
(b) There were no significant changes in the Registrant's internal
controls 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
The certifications required by Rule 30a-2(a) of the 1940 Act are filed herewith.
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.
Neuberger Berman New York Intermediate Municipal Fund Inc.
By: /s/ Peter E. Sundman
---------------------
Peter E. Sundman
Chief Executive Officer
Date: September 29, 2008
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/ Peter E. Sundman
---------------------
Peter E. Sundman
Chief Executive Officer
Date: September 29, 2008
By: /s/ John M. McGovern
---------------------
John M. McGovern
Treasurer and Principal Financial
and Accounting Officer
Date: September 29, 2008