| Schedule of Investments (unaudited) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) (Percentages shown are based on Net Assets) |
| (a) | Zero-coupon bond. |
| (b) | U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. |
| (c) | All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire between August 15, 2020 to July 01, 2027, is $2,654,103. |
| (d) | When-issued security. |
| (e) | Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing. |
| (f) | Annualized 7-day yield as of period end. |
| (g) | During the period ended November 30, 2019, investments in issuers considered to be an affiliate/affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
| Affiliate | Shares Held at 8/31/19 |
Net Activity |
Shares Held at 11/30/19 |
Value at 11/30/19 |
Income | Net Realized |
Change in Unrealized Appreciation (Depreciation) |
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| BlackRock Liquidity Funds New York Money Fund Portfolio |
— | 18,016 | 18,016 | $ | 18,016 | $ | 193 | $ | — | $ | — | |||||||||||||||||
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| (a) | Includes net capital gain distributions, if applicable. |
For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) |
Portfolio Abbreviations
AGC — Assured Guarantee Corp.
AGM — Assured Guaranty Municipal Corp.
ARB — Airport Revenue Bonds
CAB — Capital Appreciation Bonds
EDC — Economic Development Corp.
FHA — Federal Housing Administration
GO — General Obligation Bonds
HFA — Housing Finance Agency
M/F — Multi-Family
PILOT — Payment in Lieu of Taxes
RB — Revenue Bonds
S/F — Single-Family
SONYMA — State of New York Mortgage Agency
SRF — State Revolving Fund
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
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| Short Contracts |
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| 10-Year U.S. Treasury Note |
13 | 03/20/20 | $ | 1,682 | $ | 1,910 | ||||||||||
| U.S. Treasury Long Bond |
27 | 03/20/20 | 4,292 | 9,524 | ||||||||||||
| 5-Year U.S. Treasury Note |
15 | 03/31/20 | 1,785 | 1,135 | ||||||||||||
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| $ | 12,569 | |||||||||||||||
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Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| • | Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access |
| • | Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
| • | Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments and derivative financial instruments) |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its annual report.
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| Schedule of Investments (unaudited) (continued) November 30, 2019 |
BlackRock New York Municipal Income Quality Trust (BSE) |
The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets: |
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| Investments: |
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| Long-Term Investments(a) |
$ | — | $ | 161,082,063 | $ | — | $ | 161,082,063 | ||||||||
| Short-Term Securities |
18,016 | — | — | 18,016 | ||||||||||||
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| $ | 18,016 | $ | 161,082,063 | $ | — | $ | 161,100,079 | |||||||||
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| Derivative Financial Instruments(b) |
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| Assets: |
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| Interest rate contracts |
$ | 12,569 | $ | — | $ | — | $ | 12,569 | ||||||||
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| (a) | See above Schedule of Investments for values in each sector/state or political subdivision. |
| (b) | Derivative financial instruments are futures contracts. Future contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Liabilities: |
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| TOB Trust Certificates |
$ | — | $ | (23,702,391 | ) | $ | — | $ | (23,702,391 | ) | ||||||
| VRDP Shares at Liquidation Value |
— | (40,500,000 | ) | — | (40,500,000 | ) | ||||||||||
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| $ | — | $ | (64,202,391 | ) | $ | — | $ | (64,202,391 | ) | |||||||
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