|
Portfolio of Investments
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|||||
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Nuveen New York Municipal Value Fund, Inc. (NNY)
|
|
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|
|
|
May 31, 2017 (Unaudited)
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|||||
|
|||||
Principal
|
|
Optional Call
|
|
|
|
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
|
LONG-TERM INVESTMENTS – 100.7% (100.0% of Total Investments)
|
|
|
|
|
|
|||||
|
MUNICIPAL BONDS – 100.7% (100.0% of Total Investments)
|
|
|
|
|
|
|||||
|
Consumer Discretionary – 1.2% (1.2% of Total Investments)
|
|
|
|
|
$ 1,830
|
Seneca Nation of Indians Capital Improvements Authority, New York, Special Obligation Bonds,
|
6/17 at 100.00
|
N/R
|
$ 1,833,386
|
|
|
Series 2007A, 5.000%, 12/01/23
|
|
|
|
|
|
Consumer Staples – 3.4% (3.4% of Total Investments)
|
|
|
|
|
1,000
|
Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement
|
7/17 at 100.00
|
BB
|
1,000,210
|
|
|
Asset-Backed Bonds, Series 2005A, 5.000%, 6/01/38
|
|
|
|
|
500
|
Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,
|
7/17 at 100.00
|
B–
|
500,060
|
|
|
Refunding Series 2006A-2, 5.250%, 6/01/26
|
|
|
|
|
2,875
|
Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,
|
7/17 at 100.00
|
B–
|
2,861,833
|
|
|
Series 2006A-3, 5.000%, 6/01/35
|
|
|
|
|
230
|
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.000%, 6/01/48
|
6/27 at 100.00
|
N/R
|
238,241
|
|
500
|
TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series B,
|
No Opt. Call
|
BBB
|
549,960
|
|
|
5.000%, 6/01/25
|
|
|
|
|
5,105
|
Total Consumer Staples
|
|
|
5,150,304
|
|
|
Education and Civic Organizations – 20.9% (20.8% of Total Investments)
|
|
|
|
|
275
|
Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series
|
7/17 at 100.00
|
BBB
|
275,668
|
|
|
2007A, 5.000%, 7/01/31
|
|
|
|
|
415
|
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter
|
7/17 at 100.00
|
B
|
351,443
|
|
|
Schools, Series 2007A, 5.000%, 4/01/37
|
|
|
|
|
750
|
Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds,
|
12/20 at 100.00
|
B+
|
764,310
|
|
|
Enterprise Charter School Project, Series 2011A, 7.500%, 12/01/40
|
|
|
|
|
1,250
|
Build New York City Resource Corporation, New York, Revenue Bonds, City University of New
|
6/24 at 100.00
|
Aa2
|
1,431,400
|
|
|
York – Queens College, Q Student Residences, LLC Project, Refunding Series 2014A,
|
|
|
|
|
|
5.000%, 6/01/43
|
|
|
|
|
|
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+
|
216,619
|
|
310
|
5.000%, 4/15/43
|
4/23 at 100.00
|
BB+
|
307,756
|
|
1,175
|
Dormitory Authority of the State of New York, General Revenue Bonds, Manhattan College, Series
|
7/17 at 100.00
|
AA
|
1,178,819
|
|
|
2007A, 5.000%, 7/01/41 – RAAI Insured
|
|
|
|
|
415
|
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
|
7/23 at 100.00
|
A–
|
460,343
|
|
|
Series 2013A, 5.000%, 7/01/44
|
|
|
|
|
1,000
|
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of
|
No Opt. Call
|
AA–
|
1,220,660
|
|
|
Technology, Series 2007, 5.250%, 7/01/34 – FGIC Insured
|
|
|
|
|
|
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
|
278,130
|
|
265
|
5.000%, 7/01/33
|
7/25 at 100.00
|
Aa3
|
310,670
|
|
|
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–
|
1,496,263
|
|
2,180
|
5.000%, 7/01/45
|
7/25 at 100.00
|
A–
|
2,436,085
|
|
1,955
|
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series
|
7/25 at 100.00
|
A–
|
2,206,824
|
|
|
2015A, 5.000%, 7/01/45
|
|
|
|
|
760
|
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
|
7/25 at 100.00
|
Aa2
|
894,011
|
|
|
2015A, 5.000%, 7/01/35
|
|
|
|
|
2,385
|
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
|
7/26 at 100.00
|
Aa2
|
2,790,689
|
|
|
2016A, 5.000%, 7/01/39
|
|
|
|
|
280
|
Dormitory Authority of the State of New York, Revenue Bonds, Saint Joseph's College, Series
|
7/20 at 100.00
|
Ba1
|
297,480
|
|
|
2010, 5.250%, 7/01/35
|
|
|
|
|
680
|
Dormitory Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics &
|
12/26 at 100.00
|
BB–
|
699,251
|
|
|
Technology, Series 2016A, 5.500%, 12/01/36
|
|
|
|
|
580
|
Glen Cove Local Economic Assistance Corporation, New York, Revenue Bonds, Garvies Point Public
|
1/34 at 100.00
|
N/R
|
426,259
|
|
|
Improvement Project, Capital Appreciation Series 2016C, 0.000%, 1/01/55 (4)
|
|
|
|
|
300
|
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Adelphi University
|
9/23 at 100.00
|
A–
|
335,037
|
|
|
Project, Series 2013, 5.000%, 9/01/43
|
|
|
|
|
880
|
Hempstead Town Local Development Corporation, New York, Revenue Bonds, Molloy College Project,
|
7/19 at 100.00
|
BBB
|
947,285
|
|
|
Series 2009, 5.750%, 7/01/39
|
|
|
|
|
|
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–
|
1,133,330
|
|
1,000
|
6.000%, 6/01/34
|
6/21 at 100.00
|
A–
|
1,125,540
|
|
3,000
|
Monroe County Industrial Development Corporation, New York, Revenue Bonds, University of
|
7/21 at 100.00
|
AA–
|
3,353,070
|
|
|
Rochester Project, Series 2011B, 5.000%, 7/01/41
|
|
|
|
|
|
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
|
27,454
|
|
25
|
5.000%, 7/01/45
|
7/25 at 100.00
|
BBB
|
27,362
|
|
|
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
|
7/17 at 100.00
|
BBB
|
1,503,615
|
|
1,175
|
4.750%, 1/01/42 – AMBAC Insured
|
7/17 at 100.00
|
BBB
|
1,176,069
|
|
|
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
|
7/17 at 100.00
|
Baa1
|
1,613,655
|
|
800
|
4.750%, 3/01/46 – NPFG Insured
|
7/17 at 100.00
|
AA–
|
802,280
|
|
1,345
|
Tompkins County Development Corporation, New York, Revenue Bonds, Ithaca College, Series 2011,
|
1/21 at 100.00
|
A2
|
1,496,259
|
|
|
5.375%, 7/01/41 – AGM Insured
|
|
|
|
|
300
|
Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute,
|
9/20 at 100.00
|
A3
|
329,346
|
|
|
Series 2010A, 5.125%, 9/01/40
|
|
|
|
|
29,415
|
Total Education and Civic Organizations
|
|
|
31,912,982
|
|
|
Financials – 0.9% (0.9% of Total Investments)
|
|
|
|
|
1,000
|
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
|
No Opt. Call
|
A
|
1,309,890
|
|
|
Series 2007, 5.500%, 10/01/37
|
|
|
|
|
|
Health Care – 1.0% (1.0% of Total Investments)
|
|
|
|
|
350
|
Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds,
|
7/20 at 100.00
|
A
|
382,123
|
|
|
Series 2010, 5.000%, 7/01/26
|
|
|
|
|
290
|
Livingston County Industrial Development Agency, New York, Civic Facility Revenue Bonds,
|
7/17 at 100.00
|
BB
|
290,070
|
|
|
Nicholas H. Noyes Hospital, Series 2005, 6.000%, 7/01/30
|
|
|
|
|
250
|
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health
|
7/21 at 100.00
|
A–
|
275,443
|
|
|
Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28
|
|
|
|
|
500
|
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital,
|
7/17 at 100.00
|
BB–
|
500,935
|
|
|
Series 2001A, 7.125%, 7/01/31
|
|
|
|
|
155
|
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital,
|
7/17 at 100.00
|
BB–
|
155,290
|
|
|
Series 2001B, 7.125%, 7/01/31
|
|
|
|
|
1,545
|
Total Health Care
|
|
|
1,603,861
|
|
|
Housing/Multifamily – 1.7% (1.7% of Total Investments)
|
|
|
|
|
195
|
East Syracuse Housing Authority, New York, FHA-Insured Section 8 Assisted Revenue Refunding
|
10/17 at 100.00
|
AA
|
195,725
|
|
|
Bonds, Bennet Project, Series 2001A, 6.700%, 4/01/21
|
|
|
|
|
1,000
|
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,
|
5/19 at 100.00
|
AA+
|
1,053,800
|
|
|
Series 2009C-1, 5.500%, 11/01/34
|
|
|
|
|
1,250
|
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,
|
5/19 at 100.00
|
AA+
|
1,286,000
|
|
|
Series 2009M, 5.150%, 11/01/45
|
|
|
|
|
2,445
|
Total Housing/Multifamily
|
|
|
2,535,525
|
|
|
Industrials – 2.0% (1.9% of Total Investments)
|
|
|
|
|
425
|
Build New York City Resource Corporation, New York, Solid Waste Disposal Revenue Bonds, Pratt
|
1/25 at 100.00
|
N/R
|
458,898
|
|
|
Paper NY, Inc. Project, Series 2014, 5.000%, 1/01/35 (Alternative Minimum Tax)
|
|
|
|
|
2,350
|
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade
|
11/24 at 100.00
|
N/R
|
2,526,814
|
|
|
Center Project, Class 1 Series 2014, 5.000%, 11/15/44
|
|
|
|
|
2,775
|
Total Industrials
|
|
|
2,985,712
|
|
|
Long-Term Care – 0.5% (0.5% of Total Investments)
|
|
|
|
|
270
|
Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens
|
7/17 at 100.00
|
Baa1
|
270,281
|
|
|
Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31
|
|
|
|
|
170
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special
|
7/17 at 100.00
|
N/R
|
169,390
|
|
|
Needs Facilities Pooled Program, Series 2008A-1, 5.500%, 7/01/18
|
|
|
|
|
235
|
Suffolk County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special
|
7/18 at 100.00
|
N/R
|
175,430
|
|
|
Needs Facilities Pooled Program, Series 2008-B1, 5.800%, 7/01/23
|
|
|
|
|
225
|
Yonkers Industrial Development Agency, New York, Civic Facilities Revenue Bonds, Special Needs
|
7/18 at 100.00
|
N/R
|
222,170
|
|
|
Facilities Pooled Program Bonds, Series 2008-C1, 5.800%, 7/01/23
|
|
|
|
|
900
|
Total Long-Term Care
|
|
|
837,271
|
|
|
Tax Obligation/General – 2.1% (2.1% of Total Investments)
|
|
|
|
|
1,930
|
New York City, New York, General Obligation Bonds, Fiscal 2008 Series D-1, 5.125%, 12/01/25
|
12/17 at 100.00
|
AA
|
1,971,225
|
|
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
|
1,196,390
|
|
90
|
New York City, New York, General Obligation Bonds, Fiscal 2017 Series B-1, 5.000%, 12/01/41
|
12/26 at 100.00
|
AA
|
105,433
|
|
3,020
|
Total Tax Obligation/General
|
|
|
3,273,048
|
|
|
Tax Obligation/Limited – 18.8% (18.6% of Total Investments)
|
|
|
|
|
|
Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue
|
|
|
|
|
|
Bonds, City University System, Series 1993A:
|
|
|
|
|
430
|
5.750%, 7/01/18
|
No Opt. Call
|
AA
|
440,823
|
|
1,400
|
6.000%, 7/01/20
|
No Opt. Call
|
AA
|
1,568,014
|
|
2,290
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
|
2/22 at 100.00
|
AAA
|
2,612,478
|
|
|
Purpose Series 2012D, 5.000%, 2/15/37
|
|
|
|
|
|
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2015B.
|
|
|
|
|
|
Group A,B&C:
|
|
|
|
|
1,000
|
5.000%, 3/15/32
|
9/25 at 100.00
|
AAA
|
1,200,160
|
|
640
|
5.000%, 3/15/35
|
9/25 at 100.00
|
AAA
|
757,510
|
|
2,500
|
Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D, 5.000%, 11/15/28
|
11/25 at 100.00
|
A
|
2,815,025
|
|
1,500
|
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2009B,
|
11/19 at 100.00
|
AA
|
1,649,310
|
|
|
5.000%, 11/15/34
|
|
|
|
|
1,200
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
|
7/17 at 100.00
|
AA
|
1,210,596
|
|
|
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured
|
|
|
|
|
1,500
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
|
1/19 at 100.00
|
AA
|
1,594,635
|
|
|
Series 2009-S5, 5.250%, 1/15/39
|
|
|
|
|
3,000
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
|
7/25 at 100.00
|
AA
|
3,476,430
|
|
|
Series 2015S-2, 5.000%, 7/15/40
|
|
|
|
|
1,680
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
|
5/23 at 100.00
|
AAA
|
1,935,578
|
|
|
Fiscal 2013 Series I, 5.000%, 5/01/38
|
|
|
|
|
1,225
|
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
|
2/24 at 100.00
|
AAA
|
1,417,644
|
|
|
Fiscal 2014 Series D-1, 5.000%, 2/01/35
|
|
|
|
|
2,450
|
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2005B, 5.500%,
|
No Opt. Call
|
AA+
|
2,759,778
|
|
|
4/01/20 – AMBAC Insured (UB) (5)
|
|
|
|
|
600
|
New York State Urban Development Corporation, Special Project Revenue Bonds, University
|
No Opt. Call
|
AA
|
680,076
|
|
|
Facilities Grants, Series 1995, 5.875%, 1/01/21
|
|
|
|
|
20,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%,
|
No Opt. Call
|
AA–
|
4,533,999
|
|
|
8/01/43 – NPFG Insured
|
|
|
|
|
41,415
|
Total Tax Obligation/Limited
|
|
|
28,652,056
|
|
|
Transportation – 24.3% (24.1% of Total Investments)
|
|
|
|
|
2,500
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding
|
11/25 at 100.00
|
AA–
|
2,976,300
|
|
|
Series 2015D-1, 5.000%, 11/15/30
|
|
|
|
|
3,500
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2012E,
|
11/22 at 100.00
|
AA–
|
3,949,329
|
|
|
5.000%, 11/15/42
|
|
|
|
|
1,100
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E,
|
11/23 at 100.00
|
AA–
|
1,275,791
|
|
|
5.000%, 11/15/31
|
|
|
|
|
2,000
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2014B,
|
5/24 at 100.00
|
AA–
|
2,338,000
|
|
|
5.250%, 11/15/38
|
|
|
|
|
5,000
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1,
|
11/26 at 100.00
|
AA–
|
5,931,049
|
|
|
5.000%, 11/15/34
|
|
|
|
|
1,500
|
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx
|
10/17 at 102.00
|
N/R
|
482,010
|
|
|
Parking Development Company, LLC Project, Series 2007, 5.875%, 10/01/46 (6)
|
|
|
|
|
660
|
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade
|
11/21 at 100.00
|
A+
|
734,752
|
|
|
Center Project, Series 2011, 5.000%, 11/15/44
|
|
|
|
|
|
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–
|
824,915
|
|
2,020
|
5.000%, 8/01/31 (Alternative Minimum Tax)
|
8/21 at 100.00
|
BB–
|
2,155,158
|
|
2,630
|
New York Transportation Development Corporation, Special Facilities Bonds, LaGuardia Airport
|
7/24 at 100.00
|
BBB
|
2,875,537
|
|
|
Terminal B Redevelopment Project, Series 2016A, 5.000%, 7/01/46 (Alternative Minimum Tax)
|
|
|
|
|
5,900
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred
|
5/25 at 100.00
|
AA–
|
6,824,880
|
|
|
Eighty-Ninth Series 2015, 5.000%, 5/01/40
|
|
|
|
|
1,575
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy
|
12/23 at 100.00
|
AA–
|
1,809,880
|
|
|
Ninth Series 2013, 5.000%, 12/01/43
|
|
|
|
|
|
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
|
7/17 at 100.00
|
Baa1
|
228,740
|
|
1,160
|
6.000%, 12/01/36
|
12/20 at 100.00
|
Baa1
|
1,310,974
|
|
2,000
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
|
5/26 at 100.00
|
AA–
|
2,351,560
|
|
|
Series 2016A, 5.000%, 11/15/41
|
|
|
|
|
780
|
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
|
No Opt. Call
|
AA–
|
902,093
|
|
|
Subordinate Lien Series 2002E, 5.500%, 11/15/20 – NPFG Insured
|
|
|
|
|
33,315
|
Total Transportation
|
|
|
36,970,968
|
|
|
U.S. Guaranteed – 11.3% (11.2% of Total Investments) (7)
|
|
|
|
|
990
|
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter's Hospital, Series
|
11/17 at 100.00
|
N/R (7)
|
1,012,255
|
|
|
2008D, 5.750%, 11/15/27 (Pre-refunded 11/15/17)
|
|
|
|
|
1,350
|
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue
|
1/20 at 100.00
|
AA+ (7)
|
1,532,871
|
|
|
Bonds, Barclays Center Project, Series 2009, 6.250%, 7/15/40 (Pre-refunded 1/15/20)
|
|
|
|
|
|
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group
|
|
|
|
|
|
Revenue Bonds, Series 2008:
|
|
|
|
|
1,060
|
6.500%, 12/01/21 (Pre-refunded 12/01/18)
|
12/18 at 100.00
|
Baa3 (7)
|
1,132,864
|
|
565
|
6.125%, 12/01/29 (Pre-refunded 12/01/18)
|
12/18 at 100.00
|
Baa3 (7)
|
608,799
|
|
1,155
|
6.250%, 12/01/37 (Pre-refunded 12/01/18)
|
12/18 at 100.00
|
Baa3 (7)
|
1,247,908
|
|
525
|
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series
|
7/20 at 100.00
|
A– (7)
|
591,040
|
|
|
2010, 5.250%, 7/01/30 (Pre-refunded 7/01/20)
|
|
|
|
|
2,100
|
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series
|
7/20 at 100.00
|
A– (7)
|
2,411,787
|
|
|
2011A, 6.000%, 7/01/40 (Pre-refunded 7/01/20)
|
|
|
|
|
1,365
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2008A,
|
11/17 at 100.00
|
AA– (7)
|
1,392,587
|
|
|
5.250%, 11/15/36 (Pre-refunded 11/15/17)
|
|
|
|
|
1,635
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2008A,
|
11/17 at 100.00
|
N/R (7)
|
1,668,043
|
|
|
5.250%, 11/15/36 (Pre-refunded 11/15/17)
|
|
|
|
|
325
|
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty
|
8/17 at 100.00
|
AA (7)
|
336,323
|
|
|
Eighth Series 2008, Tender Option Bond Trust 2015-XF2178, 15.809%, 8/15/32 (Pre-refunded
|
|
|
|
|
|
8/15/17) – AGM Insured (IF) (5)
|
|
|
|
|
2,830
|
New York City, New York, General Obligation Bonds, Fiscal 2008 Series D-1, 5.125%, 12/01/25
|
12/17 at 100.00
|
N/R (7)
|
2,891,270
|
|
|
(Pre-refunded 12/01/17)
|
|
|
|
|
2,100
|
New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds,
|
12/17 at 100.00
|
AAA
|
2,147,817
|
|
|
Series 2008A, 5.000%, 12/15/27 (Pre-refunded 12/15/17) (UB)
|
|
|
|
|
170
|
Seneca County Industrial Development Authority, New York, Revenue Bonds, New York Chiropractic
|
10/17 at 100.00
|
N/R (7)
|
172,375
|
|
|
College, Series 2007, 5.000%, 10/01/27 (Pre-refunded 10/01/17)
|
|
|
|
|
45
|
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health
|
7/21 at 100.00
|
N/R (7)
|
52,106
|
|
|
Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28
|
|
|
|
|
|
(Pre-refunded 7/01/21)
|
|
|
|
|
16,215
|
Total U.S. Guaranteed
|
|
|
17,198,045
|
|
|
Utilities – 8.2% (8.1% of Total Investments)
|
|
|
|
|
1,000
|
Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds,
|
2/20 at 100.00
|
Baa3
|
1,049,630
|
|
|
NRG Dunkirk Power Project, Series 2009, 5.875%, 4/01/42
|
|
|
|
|
90
|
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
|
10/22 at 100.00
|
BBB
|
95,702
|
|
135
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A,
|
9/24 at 100.00
|
A–
|
152,564
|
|
|
5.000%, 9/01/44
|
|
|
|
|
400
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A,
|
5/21 at 100.00
|
A–
|
445,148
|
|
|
5.000%, 5/01/38
|
|
|
|
|
1,250
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A,
|
9/22 at 100.00
|
A–
|
1,393,688
|
|
|
5.000%, 9/01/37
|
|
|
|
|
2,490
|
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue
|
11/17 at 100.00
|
BB+
|
2,503,097
|
|
|
Refunding Bonds, Covanta Energy Project, Series 2012A, 5.250%, 11/01/42 (Alternative
|
|
|
|
|
|
Minimum Tax)
|
|
|
|
|
400
|
Suffolk County Industrial Development Agency, New York, Revenue Bonds, Nissequogue
|
7/17 at 100.00
|
N/R
|
400,036
|
|
|
Cogeneration Partners Facility, Series 1998, 5.500%, 1/01/23 (Alternative Minimum Tax)
|
|
|
|
|
|
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE:
|
|
|
|
|
4,440
|
5.000%, 12/15/34
|
12/23 at 100.00
|
AAA
|
5,205,055
|
|
1,100
|
5.000%, 12/15/41
|
12/23 at 100.00
|
AAA
|
1,275,725
|
|
11,305
|
Total Utilities
|
|
|
12,520,645
|
|
|
Water and Sewer – 4.4% (4.5% of Total Investments)
|
|
|
|
|
300
|
Buffalo Municipal Water Finance Authority, New York, Water System Revenue Bonds, Refunding
|
7/25 at 100.00
|
A
|
351,828
|
|
|
Series 2015A, 5.000%, 7/01/29
|
|
|
|
|
|
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
|
2,500,386
|
|
2,500
|
5.000%, 6/15/40
|
6/25 at 100.00
|
AAA
|
2,954,575
|
|
1,000
|
New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010
|
2/22 at 100.00
|
AAA
|
1,116,420
|
|
|
Master Financing Program, Series 2012B, 5.000%, 2/15/42
|
|
|
|
|
5,900
|
Total Water and Sewer
|
|
|
6,923,209
|
|
$ 156,185
|
Total Long-Term Investments (cost $144,644,015)
|
|
|
153,706,902
|
|
|
Floating Rate Obligations – (2.1)%
|
|
|
(3,255,000)
|
|
|
Other Assets Less Liabilities – 1.4%
|
|
|
2,248,518
|
|
|
Net Assets Applicable to Common Shares – 100%
|
|
|
$ 152,700,420
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Long-Term Investments:
|
|
|
|
|
Municipal Bonds
|
$ —
|
$153,706,902
|
$ —
|
$153,706,902
|
Gross unrealized:
|
|
Appreciation
|
$10,240,903
|
Depreciation
|
(921,523)
|
Net unrealized appreciation (depreciation) of investments
|
$ 9,319,380
|
(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. 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. Certain bonds backed by U.S. Government or
|
|
|
agency securities are regarded as having an implied rating equal to the ratings of such securities.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
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.
|
By (Signature and Title) | /s/ Gifford R. Zimmerman |
Gifford R. Zimmerman
Vice President and Secretary
|
By (Signature and Title) | /s/ Cedric H. Antosiewicz |
Cedric H. Antosiewicz
Chief Administrative Officer (principal executive officer)
|
By (Signature and Title) | /s/ Stephen D. Foy |
Stephen D. Foy
Vice President and Controller (principal financial officer)
|