UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-04570
| Name of Registrant: | Vanguard New York Tax-Free Funds |
| Address of Registrant: | P.O. Box 2600 |
| Valley Forge, PA 19482 |
| Name and address of agent for service: | Anne E. Robinson, Esquire |
| P.O. Box 876 | |
| Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: November 30
Date of reporting period: December 1, 2019—May 31, 2020
Item 1: Reports to Shareholders
Semiannual Report | May 31, 2020
Vanguard New York Tax-Exempt Funds
|
Vanguard New York Municipal Money Market Fund Vanguard New York Long-Term Tax-Exempt Fund
See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports.
|
Important information about access to shareholder reports
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report.
If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com.
You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.
| Contents | |
| About Your Fund’s Expenses | 1 |
| New York Municipal Money Market Fund | 3 |
| New York Long-Term Tax-Exempt Fund | 23 |
| Trustees Approve Advisory Arrangements | 81 |
| Liquidity Risk Management | 83 |
About Your Fund’s Expenses
As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.
A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The accompanying table illustrates your fund’s costs in two ways:
· Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading “Expenses Paid During Period.”
· Based on hypothetical 5% yearly return. This section is intended to help you compare your fund’s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”
The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.
You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.
1
Six Months Ended May 31, 2020
| Beginning | Ending | Expenses | |
| Account Value | Account Value | Paid During | |
| 11/30/2019 | 5/31/2020 | Period | |
| Based on Actual Fund Return | |||
| New York Municipal Money Market Fund | $1,000.00 | $1,005.13 | $0.80 |
| New York Long-Term Tax-Exempt Fund | |||
| Investor Shares | $1,000.00 | $1,007.50 | $0.85 |
| Admiral™ Shares | 1,000.00 | 1,007.90 | 0.45 |
| Based on Hypothetical 5% Yearly Return | |||
| New York Municipal Money Market Fund | $1,000.00 | $1,024.20 | $0.81 |
| New York Long-Term Tax-Exempt Fund | |||
| Investor Shares | $1,000.00 | $1,024.15 | $0.86 |
| Admiral Shares | 1,000.00 | 1,024.55 | 0.46 |
7
The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that period are: for the New York Municipal Money Market Fund, 0.16%; and for the New York Long-Term Tax-Exempt Fund, 0.17% for Investor Shares and 0.09% for Admiral Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (183/366).
2
New York Municipal Money Market Fund
Distribution by Effective Maturity1
As of May 31, 2020
| 1 - 7 Days | 73.1% |
| 8 - 30 Days | 14.6 |
| 31 - 60 Days | 1.5 |
| 61 - 90 Days | 2.1 |
| 91 - 180 Days | 4.7 |
| Over 180 Days | 4.0 |
| 1 Percentage of investments. | |
3
New York Municipal Money Market Fund
Financial Statements (unaudited)
Schedule of Investments
As of May 31, 2020
The fund publishes its holdings on a monthly basis on Vanguard’s website and files them with the Securities and Exchange Commission (SEC) on Form N-MFP. The fund’s Form N-MFP filings may be viewed via a link on the “Portfolio Holdings” page at www.vanguard.com or on the SEC’s website at www.sec.gov.
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Tax-Exempt Municipal Bonds (101.3%) | |||||
| New York (101.3%) | |||||
| Albany NY Industrial Development Agency Civic Facility Revenue (CHF Holland Suites LLC Project) VRDO | 0.170% | 6/5/20 LOC | 6,940 | 6,940 | |
| Amityville NY Union Free School District TAN | 2.000% | 6/19/20 | 11,000 | 11,003 | |
| 1 | Battery Park City NY Authority Revenue TOB VRDO | 0.170% | 6/5/20 LOC | 25,500 | 25,500 |
| Bayport-Blue Point NY Union Free School District BAN | 2.250% | 7/17/20 | 8,200 | 8,209 | |
| Bayport-Blue Point NY Union Free School District BAN | 2.000% | 2/5/21 | 12,835 | 12,918 | |
| 1 | BlackRock MuniYield New York Quality Fund Inc. VRDP VRDO | 0.210% | 6/5/20 LOC | 130,000 | 130,000 |
| Brighton NY Central School District BAN | 2.000% | 6/30/20 | 12,000 | 12,006 | |
| Carmel NY BAN | 1.750% | 10/2/20 | 12,360 | 12,376 | |
| Clarkstown NY Central School District BAN | 2.250% | 7/24/20 | 15,994 | 16,014 | |
| Connetquot NY Central School District of Islip TAN | 1.750% | 6/25/20 | 10,000 | 10,003 | |
| Corning NY City School District BAN | 2.250% | 6/18/20 | 9,995 | 9,999 | |
| Croton-Harmon NY Union Free School District BAN | 2.500% | 6/12/20 | 8,275 | 8,278 | |
| Delaware Valley NY Industrial Development Authority Revenue (Delaware Valley Hospital) VRDO | 0.260% | 6/5/20 LOC | 2,000 | 2,000 | |
| East Hampton NY Union Free School District TAN | 1.750% | 6/25/20 | 14,000 | 14,004 | |
| East Meadow NY Union Free School District BAN | 2.250% | 6/19/20 | 8,500 | 8,503 | |
| 1 | Erie County NY Industrial Development Agency School Facility Revenue (Buffalo City School District Project) TOB VRDO | 0.110% | 6/1/20 | 6,665 | 6,665 |
| Franklin County NY Civic Development Corp. Revenue VRDO | 0.180% | 6/5/20 LOC | 4,700 | 4,700 | |
| Geneva NY Industrial Development Agency Civic Facility Revenue (Colleges of the Seneca Project) VRDO | 0.170% | 6/5/20 LOC | 14,795 | 14,795 | |
| Half Hollow Hills NY Central School District TAN | 2.000% | 6/25/20 | 10,000 | 10,005 | |
4
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Herricks NY Union Free School District GO | 2.000% | 8/7/20 | 9,020 | 9,033 | |
| 1 | Hudson Yards Infrastructure Corp. New York Revenue TOB VRDO | 0.200% | 6/5/20 LOC | 6,065 | 6,065 |
| Huntington NY Union Free School District TAN | 2.000% | 6/25/20 | 18,000 | 18,009 | |
| Jamesville-Dewitt NY Central School District GO | 2.000% | 6/26/20 | 12,100 | 12,105 | |
| Jefferson County NY BAN | 1.750% | 10/30/20 | 9,000 | 9,018 | |
| Lancaster NY Central School District BAN | 2.500% | 6/12/20 | 22,400 | 22,407 | |
| Liverpool NY Central School District BAN | 2.250% | 6/26/20 | 9,100 | 9,105 | |
| Mechanicville NY School District BAN | 2.500% | 6/19/20 | 23,095 | 23,107 | |
| Merrick NY Union Free School District BAN | 1.750% | 2/25/21 | 19,900 | 20,001 | |
| 1 | Nassau County NY GO TOB VRDO | 0.170% | 6/5/20 LOC | 6,000 | 6,000 |
| Nassau County NY Interim Finance Authority VRDO | 0.120% | 6/5/20 | 10,485 | 10,485 | |
| New Rochelle NY City School District BAN | 2.000% | 6/26/20 | 45,000 | 45,019 | |
| 1 | New York City Housing Development Corp. Revenue TOB VRDO | 0.170% | 6/5/20 | 5,000 | 5,000 |
| New York City NY Capital Resources Corp. Revenue (Loan Enhanced Assistance Program) VRDO | 0.110% | 6/5/20 LOC | 4,665 | 4,665 | |
| New York City NY Capital Resources Corp. Revenue (Loan Enhanced Assistance Program) VRDO | 0.120% | 6/5/20 LOC | 9,400 | 9,400 | |
| New York City NY Capital Resources Corp. Revenue (Loan Enhanced Assistance Program) VRDO | 0.130% | 6/5/20 LOC | 3,080 | 3,080 | |
| New York City NY GO | 5.000% | 8/1/20 | 8,115 | 8,167 | |
| 1 | New York City NY GO TOB VRDO | 0.100% | 6/1/20 LOC | 52,400 | 52,400 |
| New York City NY GO VRDO | 0.070% | 6/1/20 | 5,600 | 5,600 | |
| New York City NY GO VRDO | 0.070% | 6/1/20 | 4,700 | 4,700 | |
| New York City NY GO VRDO | 0.080% | 6/1/20 LOC | 1,900 | 1,900 | |
| New York City NY GO VRDO | 0.190% | 6/5/20 LOC | 27,400 | 27,400 | |
| New York City NY Health & Hospital Corp. Revenue (Health System) VRDO | 0.130% | 6/5/20 LOC | 7,700 | 7,700 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 2.000% | 11/1/20 | 12,265 | 12,265 | |
| 1 | New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) TOB VRDO | 0.180% | 6/5/20 | 8,335 | 8,335 |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) VRDO | 0.150% | 6/5/20 | 29,380 | 29,380 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue PUT | 0.800% | 12/1/20 | 37,000 | 37,000 | |
| 1 | New York City NY Housing Development Corp. Multi-Family Housing Revenue TOB VRDO | 0.170% | 6/5/20 | 7,500 | 7,500 |
| 1 | New York City NY Housing Development Corp. Multi-Family Housing Revenue TOB VRDO | 0.170% | 6/5/20 | 7,500 | 7,500 |
5
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 1 | New York City NY Housing Development Corp. Multi-Family Housing Revenue TOB VRDO | 0.170% | 6/5/20 | 14,455 | 14,455 |
| 1 | New York City NY Housing Development Corp. Multi-Family Housing Revenue TOB VRDO | 0.180% | 6/5/20 | 6,665 | 6,665 |
| 1 | New York City NY Housing Development Corp. Multi-Family Housing Revenue TOB VRDO | 0.180% | 6/5/20 | 7,605 | 7,605 |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue VRDO | 0.140% | 6/5/20 | 600 | 600 | |
| New York City NY Housing Development Corp. Multi-Family Mortgage Revenue (550 East 170th Street Apartments) VRDO | 0.170% | 6/5/20 LOC | 3,975 | 3,975 | |
| New York City NY Housing Development Corp. Multi-Family Mortgage Revenue (941 Hoe Avenue Apartments) VRDO | 0.160% | 6/5/20 LOC | 6,560 | 6,560 | |
| New York City NY Housing Development Corp. Multi-Family Mortgage Revenue (Aldus Street Apartments) VRDO | 0.160% | 6/5/20 LOC | 8,000 | 8,000 | |
| New York City NY Housing Development Corp. Multi-Family Mortgage Revenue (Bruckner by the Bridge) VRDO | 0.160% | 6/5/20 LOC | 6,860 | 6,860 | |
| New York City NY Housing Development Corp. Multi-Family Mortgage Revenue (Villa Avenue Apartments) VRDO | 0.160% | 6/5/20 LOC | 5,990 | 5,990 | |
| New York City NY Housing Development Corp. Multi-Family Rental Housing Revenue (Atlantic Court Apartments) VRDO | 0.120% | 6/5/20 LOC | 14,500 | 14,500 | |
| New York City NY Housing Development Corp. Multi-Family Rental Housing Revenue (Lexington Courts) VRDO | 0.140% | 6/5/20 LOC | 100 | 100 | |
| New York City NY Housing Development Corp. Multi-Family Rental Housing Revenue (Royal Charter Properties) VRDO | 0.100% | 6/5/20 LOC | 100 | 100 | |
| New York City NY Housing Development Corp. Revenue (Ogden Avenue Apartments) VRDO | 0.120% | 6/5/20 LOC | 2,500 | 2,500 | |
| New York City NY Housing Finance Agency Revenue (455 West 37) VRDO | 0.100% | 6/1/20 LOC | 37,545 | 37,545 | |
| New York City NY Housing Finance Agency Revenue (Grace Towers) VRDO | 0.120% | 6/5/20 LOC | 9,230 | 9,230 | |
| New York City NY Housing Finance Agency Revenue (West 25th Street) VRDO | 0.120% | 6/5/20 LOC | 16,700 | 16,700 | |
| New York City NY Industrial Development Agency Civic Facility Revenue (New York Congregational Nursing Center Project) VRDO | 0.290% | 6/5/20 LOC | 935 | 935 | |
| 1,2 | New York City NY Municipal Water Finance Authority Water & Sewer System Revenue TOB PUT | 0.170% | 6/5/20 LOC | 45,000 | 45,000 |
6
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 1 | New York City NY Municipal Water Finance Authority Water & Sewer System Revenue TOB VRDO | 0.100% | 6/1/20 LOC | 15,485 | 15,485 |
| 1 | New York City NY Municipal Water Finance Authority Water & Sewer System Revenue TOB VRDO | 0.100% | 6/1/20 LOC | 7,500 | 7,500 |
| 1 | New York City NY Municipal Water Finance Authority Water & Sewer System Revenue TOB VRDO | 0.170% | 6/5/20 | 3,000 | 3,000 |
| 1 | New York City NY Municipal Water Finance Authority Water & Sewer System Revenue TOB VRDO | 0.200% | 6/5/20 | 20,000 | 20,000 |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 900 | 900 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 3,900 | 3,900 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 7,800 | 7,800 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 12,375 | 12,375 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 6,205 | 6,205 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 19,600 | 19,600 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 5,900 | 5,900 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.080% | 6/1/20 | 51,575 | 51,575 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.080% | 6/1/20 | 30,720 | 30,720 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.120% | 6/5/20 | 6,930 | 6,930 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.130% | 6/5/20 | 20,235 | 20,235 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.140% | 6/5/20 | 2,900 | 2,900 | |
| 1 | New York City NY Sales Tax Asset Receivable Corp. Revenue TOB VRDO | 0.180% | 6/5/20 | 3,335 | 3,335 |
| 1 | New York City NY Sales Tax Asset Receivable Corp. Revenue TOB VRDO | 0.180% | 6/5/20 | 5,250 | 5,250 |
7
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 1 | New York City NY Transitional Finance Authority Building Aid Revenue TOB VRDO | 0.170% | 6/5/20 | 5,915 | 5,915 |
| 1 | New York City NY Transitional Finance Authority Building Aid Revenue TOB VRDO | 0.180% | 6/5/20 | 4,000 | 4,000 |
| 1 | New York City NY Transitional Finance Authority Building Aid Revenue TOB VRDO | 0.180% | 6/5/20 | 3,490 | 3,490 |
| 1 | New York City NY Transitional Finance Authority Building Aid Revenue TOB VRDO | 0.180% | 6/5/20 | 18,750 | 18,750 |
| 1 | New York City NY Transitional Finance Authority Building Aid Revenue TOB VRDO | 0.180% | 6/5/20 | 8,600 | 8,600 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.160% | 6/5/20 | 5,000 | 5,000 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.170% | 6/5/20 | 25,170 | 25,170 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.170% | 6/5/20 LOC | 11,800 | 11,800 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.170% | 6/5/20 | 3,200 | 3,200 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.180% | 6/5/20 | 7,500 | 7,500 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.180% | 6/5/20 | 1,500 | 1,500 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.180% | 6/5/20 | 3,335 | 3,335 |
| 1 | New York City NY Transitional Finance Authority Future Tax Revenue TOB VRDO | 0.210% | 6/5/20 | 2,890 | 2,890 |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.070% | 6/1/20 | 2,800 | 2,800 | |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.070% | 6/1/20 | 17,390 | 17,390 | |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.150% | 6/5/20 LOC | 19,060 | 19,060 | |
| 1 | New York City NY Transitional Finance Authority Future Tax Secured Revenue TOB VRDO | 0.190% | 6/5/20 | 18,100 | 18,100 |
| New York City NY Transitional Finance Authority Future Tax Secured Revenue VRDO | 0.070% | 6/1/20 | 16,220 | 16,220 | |
| New York City NY Trust for Cultural Resources Revenue (American Museum of Natural History) PUT | 0.130% | 10/5/20 | 19,000 | 19,000 | |
| New York City NY Trust for Cultural Resources Revenue (New York Botanical Garden) VRDO | 0.140% | 6/5/20 LOC | 1,015 | 1,015 | |
| New York City NY Trust for Cultural Resources Revenue (The Metropolitan Museum of Art) VRDO | 0.140% | 6/5/20 | 1,325 | 1,325 | |
| 1 | New York City NY Trust for Cultural Resources Revenue (Wildlife Conservation Society) TOB VRDO | 0.190% | 6/5/20 | 5,335 | 5,335 |
| 1 | New York Liberty Development Corp. Revenue (7 World Trade Center Project) TOB VRDO | 0.290% | 6/5/20 | 8,000 | 8,000 |
8
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York Liberty Development Corp. Revenue (Greenwich LLC) VRDO | 0.130% | 6/5/20 LOC | 10,625 | 10,625 | |
| 1 | New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) TOB VRDO | 0.110% | 6/1/20 | 12,800 | 12,800 |
| 1 | New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) TOB VRDO | 0.180% | 6/5/20 | 9,350 | 9,350 |
| 1 | New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) TOB VRDO | 0.180% | 6/5/20 | 3,330 | 3,330 |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) VRDO | 0.130% | 6/5/20 LOC | 17,840 | 17,840 | |
| 1 | New York Metropolitan Transportation Authority Revenue TOB VRDO | 0.340% | 6/5/20 | 11,000 | 11,000 |
| New York NY GO | 5.000% | 8/1/20 | 10,000 | 10,069 | |
| New York NY GO | 5.000% | 8/1/20 | 4,000 | 4,022 | |
| 1 | New York NY GO TOB VRDO | 0.170% | 6/5/20 LOC | 13,000 | 13,000 |
| 1 | New York NY GO TOB VRDO | 0.170% | 6/5/20 LOC | 5,000 | 5,000 |
| 1 | New York State Dormitory Authority Lease Revenue (State University Dormitory Facilities) TOB VRDO | 0.180% | 6/5/20 | 5,820 | 5,820 |
| New York State Dormitory Authority Revenue (City University System) | 6.000% | 7/1/20 (4) | 1,830 | 1,837 | |
| New York State Dormitory Authority Revenue (City University System) VRDO | 0.120% | 6/5/20 LOC | 73,655 | 73,655 | |
| New York State Dormitory Authority Revenue (Columbia University) CP | 0.750% | 9/3/20 | 8,245 | 8,245 | |
| New York State Dormitory Authority Revenue (Columbia University) VRDO | 0.060% | 6/5/20 | 27,075 | 27,075 | |
| New York State Dormitory Authority Revenue (Cornell University) VRDO | 0.030% | 6/1/20 | 34,595 | 34,595 | |
| New York State Dormitory Authority Revenue (Cornell University) VRDO | 0.080% | 6/5/20 | 4,695 | 4,695 | |
| New York State Dormitory Authority Revenue (Cornell University) VRDO | 0.080% | 6/5/20 | 7,675 | 7,675 | |
| New York State Dormitory Authority Revenue (Fordham University) VRDO | 0.110% | 6/5/20 LOC | 2,815 | 2,815 | |
| New York State Dormitory Authority Revenue (Fordham University) VRDO | 0.110% | 6/5/20 LOC | 15,050 | 15,050 | |
| 1 | New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) TOB VRDO | 0.160% | 6/5/20 | 7,860 | 7,860 |
| New York State Dormitory Authority Revenue (Mental Health Services Facilities Improvement) VRDO | 0.150% | 6/5/20 LOC | 4,450 | 4,450 | |
| 1 | New York State Dormitory Authority Revenue (Montefiore Obligated Group) TOB VRDO | 0.160% | 6/5/20 (4)LOC | 13,270 | 13,270 |
| 1,2 | New York State Dormitory Authority Revenue (New York University) TOB PUT | 0.100% | 6/1/20 | 16,780 | 16,780 |
9
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 1 | New York State Dormitory Authority Revenue (Personal Income Tax) TOB VRDO | 0.160% | 6/5/20 | 5,000 | 5,000 |
| 1 | New York State Dormitory Authority Revenue (Personal Income Tax) TOB VRDO | 0.170% | 6/5/20 | 6,000 | 6,000 |
| 1 | New York State Dormitory Authority Revenue (Personal Income Tax) TOB VRDO | 0.170% | 6/5/20 | 4,000 | 4,000 |
| 1 | New York State Dormitory Authority Revenue (Personal Income Tax) TOB VRDO | 0.170% | 6/5/20 | 31,290 | 31,290 |
| 1 | New York State Dormitory Authority Revenue (Personal Income Tax) TOB VRDO | 0.180% | 6/5/20 | 7,500 | 7,500 |
| 1 | New York State Dormitory Authority Revenue (Personal Income Tax) TOB VRDO | 0.180% | 6/5/20 | 6,250 | 6,250 |
| 1 | New York State Dormitory Authority Revenue (Personal Income Tax) TOB VRDO | 0.180% | 6/5/20 | 9,030 | 9,030 |
| 1 | New York State Dormitory Authority Revenue (Rockefeller University) TOB VRDO | 0.160% | 6/5/20 | 3,200 | 3,200 |
| New York State Dormitory Authority Revenue (Rockefeller University) VRDO | 0.110% | 6/5/20 | 5,075 | 5,075 | |
| New York State Dormitory Authority Revenue (St. John’s University) VRDO | 0.110% | 6/5/20 LOC | 5,440 | 5,440 | |
| New York State Dormitory Authority Revenue (St. John’s University) VRDO | 0.110% | 6/5/20 LOC | 13,405 | 13,405 | |
| New York State Dormitory Authority Revenue (University of Rochester) VRDO | 0.070% | 6/1/20 LOC | 1,300 | 1,300 | |
| New York State Dormitory Authority Revenue (University of Rochester) VRDO | 0.110% | 6/5/20 LOC | 1,000 | 1,000 | |
| 1 | New York State Dormitory Authority Revenue TOB VRDO | 0.160% | 6/5/20 LOC | 25,900 | 25,900 |
| 1 | New York State Dormitory Authority Revenue TOB VRDO | 0.190% | 6/5/20 | 7,500 | 7,500 |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/21 | 10,000 | 10,293 | |
| 1 | New York State Dormitory Authority Sales Tax Revenue TOB VRDO | 0.170% | 6/5/20 | 3,365 | 3,365 |
| 1 | New York State Dormitory Authority Sales Tax Revenue TOB VRDO | 0.170% | 6/5/20 | 17,370 | 17,370 |
| 1 | New York State Dormitory Authority Sales Tax Revenue TOB VRDO | 0.180% | 6/5/20 | 7,500 | 7,500 |
| 1 | New York State Dormitory Authority Sales Tax Revenue TOB VRDO | 0.180% | 6/5/20 | 12,100 | 12,100 |
| 1 | New York State Dormitory Authority Sales Tax Revenue TOB VRDO | 0.180% | 6/5/20 | 7,500 | 7,500 |
| 1 | New York State Dormitory Authority Sales Tax Revenue TOB VRDO | 0.180% | 6/5/20 | 11,250 | 11,250 |
| 1 | New York State Dormitory Authority Sales Tax Revenue TOB VRDO | 0.190% | 6/5/20 | 15,345 | 15,345 |
| 1 | New York State Dormitory Authority TOB VRDO | 0.170% | 6/5/20 | 7,000 | 7,000 |
| 1 | New York State Dormitory Authority TOB VRDO | 0.170% | 6/5/20 | 10,000 | 10,000 |
10
New York Municipal Money Market Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 1 | New York State Dormitory Authority TOB VRDO | 0.180% | 6/5/20 | 6,185 | 6,185 |
| 1 | New York State Dormitory Authority TOB VRDO | 0.190% | 6/5/20 | 21,870 | 21,870 |
| New York State Energy Research & Development Authority Facilities Revenue VRDO | 0.150% | 6/5/20 LOC | 45,300 | 45,300 | |
| New York State Housing Finance Agency Housing Revenue (100 Maiden Lane) VRDO | 0.140% | 6/5/20 LOC | 51,705 | 51,705 | |
| New York State Housing Finance Agency Housing Revenue (20 River Terrace Housing) VRDO | 0.110% | 6/5/20 LOC | 3,700 | 3,700 | |
| New York State Housing Finance Agency Housing Revenue (330 Riverdale Avenue Apartments) VRDO | 0.160% | 6/5/20 LOC | 1,700 | 1,700 | |
| New York State Housing Finance Agency Housing Revenue (8 East 102nd Street)VRDO | 0.130% | 6/5/20 LOC | 2,845 | 2,845 | |
| New York State Housing Finance Agency Housing Revenue (Dock Street Rental LLC) VRDO | 0.140% | 6/5/20 LOC | 10,975 | 10,975 | |
| New York State Housing Finance Agency Housing Revenue (East 84th Street) VRDO | 0.120% | 6/5/20 LOC | 16,900 | 16,900 | |
| New York State Housing Finance Agency Revenue (1500 Lexington Associates LLC) VRDO | 0.130% | 6/5/20 LOC | 18,000 | 18,000 | |
| New York State Housing Finance Agency Revenue (250 West 50th Street Project)VRDO | 0.120% | 6/5/20 LOC | 22,605 | 22,605 | |
| New York State Housing Finance Agency Revenue (Sea Park West LP) VRDO | 0.220% | 6/5/20 LOC | 14,100 | 14,100 | |
| New York State Housing Finance Agency Revenue (Union Square South Housing) VRDO | 0.120% | 6/5/20 LOC | 1,950 | 1,950 | |
| New York State Housing Finance Agency Revenue VRDO | 0.100% | 6/5/20 LOC | 18,900 | 18,900 | |
| New York State Housing Finance Agency VRDO | 0.120% | 6/5/20 | 4,000 | 4,000 | |
| 1 | New York State Housing Finance Agency TOB VRDO | 0.170% | 6/5/20 | 6,665 | 6,665 |
| 1 | New York State Mortgage Agency Homeowner Mortgage Revenue TOB VRDO | 0.170% | 6/5/20 | 3,365 | 3,365 |
| New York State Mortgage Agency Homeowner Mortgage Revenue VRDO | 0.090% | 6/1/20 | 18,475 | 18,475 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue VRDO | 0.100% | 6/1/20 | 11,870 | 11,870 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue VRDO | 0.120% | 6/5/20 | 6,420 | 6,420 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue VRDO | 0.140% | 6/5/20 | 19,300 | 19,300 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue VRDO | 0.180% | 6/5/20 | 15,000 | 15,000 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue VRDO | 0.190% | 6/5/20 | 4,600 | 4,600 |
11
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Power Authority Revenue CP | 0.900% | 6/2/20 | 13,610 | 13,610 | |
| New York State Power Authority Revenue CP | 0.300% | 6/17/20 | 43,122 | 43,122 | |
| New York State Power Authority Revenue CP | 0.300% | 8/6/20 | 33,100 | 33,100 | |
| 1,2 | New York State Power Authority Revenue TOB VRDO | 0.170% | 6/5/20 | 5,500 | 5,500 |
| 1 | New York State Power Authority Revenue TOB VRDO | 0.180% | 6/5/20 | 3,500 | 3,500 |
| 1 | New York State Power Authority Revenue TOB VRDO | 0.180% | 6/5/20 | 7,785 | 7,785 |
| New York State Thruway Authority Revenue (Highway & Bridge Trust Fund) | 5.000% | 4/1/21 | 17,025 | 17,544 | |
| 1 | New York State Thruway Authority Revenue (Highway & Bridge Trust Fund) TOB VRDO | 0.110% | 6/1/20 | 8,470 | 8,470 |
| 1 | New York State Thruway Authority Revenue (Highway & Bridge Trust Fund) TOB VRDO | 0.180% | 6/5/20 | 4,800 | 4,800 |
| 1 | New York State Thruway Authority Revenue TOB VRDO | 0.170% | 6/5/20 LOC | 2,080 | 2,080 |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 5.000% | 3/15/21 | 7,500 | 7,754 | |
| 1 | New York State Urban Development Corp. Revenue (Personal Income Tax) TOB VRDO | 0.160% | 6/5/20 | 1,760 | 1,760 |
| 1 | New York State Urban Development Corp. Revenue (Personal Income Tax) TOB VRDO | 0.170% | 6/5/20 | 5,850 | 5,850 |
| 1 | New York State Urban Development Corp. Revenue (Personal Income Tax) TOB VRDO | 0.180% | 6/5/20 | 10,300 | 10,300 |
| 1 | New York State Urban Development Corp. Revenue (Personal Income Tax) TOB VRDO | 0.180% | 6/5/20 | 3,750 | 3,750 |
| New York State Urban Development Corp. Revenue (Service Contract) VRDO | 0.110% | 6/5/20 LOC | 13,645 | 13,645 | |
| New York State Urban Development Corp. Revenue (Service Contract) VRDO | 0.110% | 6/5/20 LOC | 4,000 | 4,000 | |
| 1 | New York State Urban Development Corp. Revenue TOB VRDO | 0.180% | 6/5/20 | 9,000 | 9,000 |
| New York State Urban Development Corp. Revenue VRDO | 0.140% | 6/5/20 | 3,600 | 3,600 | |
| 1 | New York State Urban Development Corp. TOB VRDO | 0.180% | 6/5/20 | 3,750 | 3,750 |
| 1 | New York State Urban Development Corp. TOB VRDO | 0.180% | 6/5/20 | 13,780 | 13,780 |
| Niagara NY Area Development Corp. Revenue (Niagara Falls Memorial Medical Center) VRDO | 0.200% | 6/5/20 LOC | 4,515 | 4,515 | |
| 1 | Nuveen New York AMT-Free Quality Municipal Income Fund VRDP VRDO | 0.170% | 6/5/20 LOC | 10,000 | 10,000 |
| 1 | Nuveen New York AMT-Free Quality Municipal Income Fund VRDP VRDO | 0.170% | 6/5/20 LOC | 22,000 | 22,000 |
| 1 | Nuveen New York AMT-Free Quality Municipal Income Fund VRDP VRDO | 0.170% | 6/5/20 LOC | 20,000 | 20,000 |
| 1 | Nuveen New York AMT-Free Quality Municipal Income Fund VRDP VRDO | 0.170% | 6/5/20 LOC | 48,700 | 48,700 |
| 1 | Nuveen New York Quality Municipal Fund VRDP VRDO | 0.240% | 6/5/20 LOC | 34,800 | 34,800 |
| Oceanside NY Union Free School District GO | 2.000% | 6/25/20 | 9,250 | 9,254 | |
12
| New York Municipal Money Market Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Onondaga County NY Industrial Development Agency Civic Facility Revenue (Syracuse Home Association Project) VRDO | 0.230% | 6/5/20 LOC | 4,030 | 4,030 | |
| Onondaga County NY Trust For Cultural Resources Revenue (Syracuse University Project) VRDO | 0.100% | 6/5/20 LOC | 8,790 | 8,790 | |
| Port Authority of New York & New Jersey Revenue CP | 0.500% | 6/10/20 | 12,995 | 12,995 | |
| Port Authority of New York & New Jersey Revenue CP | 0.850% | 6/10/20 | 5,065 | 5,065 | |
| Port Authority of New York & New Jersey Revenue CP | 1.150% | 6/11/20 | 12,260 | 12,260 | |
| Port Authority of New York & New Jersey Revenue CP | 0.600% | 9/3/20 | 20,400 | 20,400 | |
| Port Authority of New York & New Jersey Revenue CP | 0.400% | 9/9/20 | 9,190 | 9,190 | |
| Port Authority of New York & New Jersey Revenue CP | 0.550% | 9/10/20 | 8,740 | 8,740 | |
| 1 | Port Authority of New York & New Jersey Revenue TOB VRDO | 0.180% | 6/5/20 | 8,475 | 8,475 |
| 1 | Port Authority of New York & New Jersey Revenue TOB VRDO | 0.180% | 6/5/20 | 8,000 | 8,000 |
| 1 | Port Authority of New York & New Jersey Revenue TOB VRDO | 0.190% | 6/5/20 LOC | 16,515 | 16,515 |
| 1 | Port Authority of New York & New Jersey Revenue TOB VRDO | 0.240% | 6/5/20 | 8,500 | 8,500 |
| 1 | Port Authority of New York & New Jersey Revenue TOB VRDO | 0.240% | 6/5/20 | 2,260 | 2,260 |
| 1 | Port Authority of New York & New Jersey TOB VRDO | 0.190% | 6/5/20 | 2,790 | 2,790 |
| 1 | Regional Transportation Authority IL TOB VRDO | 0.170% | 6/5/20 | 7,500 | 7,500 |
| Scarsdale NY Union Free School District BAN | 2.250% | 6/26/20 | 10,287 | 10,293 | |
| Schoharie County NY BAN | 2.000% | 2/5/21 | 14,085 | 14,176 | |
| Sewanhaka NY Central High School District of Elmont TAN | 2.000% | 6/22/20 | 7,500 | 7,502 | |
| Smithtown NY Central School District TAN | 1.750% | 6/26/20 | 43,000 | 43,012 | |
| South Country NY Central School District of Brookhaven TAN | 1.750% | 6/25/20 | 20,000 | 20,005 | |
| South Huntington NY Union Free School District TAN | 1.750% | 6/25/20 | 26,000 | 26,009 | |
| 1 | Triborough Bridge & Tunnel Authority New York Revenue TOB VRDO | 0.170% | 6/5/20 | 14,250 | 14,250 |
| 1 | Triborough Bridge & Tunnel Authority New York Revenue TOB VRDO | 0.180% | 6/5/20 | 695 | 695 |
| 1 | Triborough Bridge & Tunnel Authority New York Revenue TOB VRDO | 0.180% | 6/5/20 | 12,000 | 12,000 |
| 1 | Triborough Bridge & Tunnel Authority New York Revenue TOB VRDO | 0.290% | 6/5/20 | 3,580 | 3,580 |
| Ulster County NY BAN | 1.750% | 11/19/20 | 29,431 | 29,509 | |
| 1 | Utility Debt Securitization Authority New York Revenue TOB VRDO | 0.170% | 6/5/20 | 1,000 | 1,000 |
13
New York Municipal Money Market Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 1 | Utility Debt Securitization Authority New York Revenue TOB VRDO | 0.210% | 6/5/20 | 5,250 | 5,250 |
| Webster NY Central School District BAN | 2.250% | 6/26/20 | 10,000 | 10,006 | |
| West Babylon NY Union Free School District TAN | 1.750% | 6/25/20 | 15,000 | 15,004 | |
| West Islip NY Union Free School District BAN | 2.250% | 6/22/20 | 9,500 | 9,505 | |
| West Islip NY Union Free School District BAN | 2.250% | 7/22/20 | 18,700 | 18,723 | |
| Westhampton Beach NY BAN | 1.750% | 10/23/20 | 10,800 | 10,822 | |
| Total Tax-Exempt Municipal Bonds (Cost $3,000,310) | 3,000,310 | ||||
| Other Assets and Liabilities—Net (-1.3%) | (39,627) | ||||
| Net Assets (100%) | 2,960,683 | ||||
Cost is in $000.
| • | See Note A in Notes to Financial Statements. |
| 1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2020, the aggregate value of these securities was $1,155,880,000, representing 39.0% of net assets. |
| 2 | Adjustable-rate security; rate shown is effective rate at period end. Certain adjustable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions. |
See accompanying Notes, which are an integral part of the Financial Statements.
14
New York Municipal Money Market Fund
Key to Abbreviations
ARS—Auction Rate Security.
BAN—Bond Anticipation Note.
CMT—Constant Maturing Treasury Rate.
COP—Certificate of Participation.
CP—Commercial Paper.
FR—Floating Rate.
GAN—Grant Anticipation Note.
GO—General Obligation Bond.
LIBOR—London Interbank Offered Rate.
PILOT—Payments in Lieu of Taxes.
PUT—Put Option Obligation.
RAN—Revenue Anticipation Note.
SIFMA—Securities Industry and Financial Markets Association.
SOFR—Secured Overnight Financing Rate.
TAN—Tax Anticipation Note.
TOB—Tender Option Bond.
TRAN—Tax Revenue Anticipation Note.
VRDO—Variable Rate Demand Obligation.
VRDP—Variable Rate Demand Preferred.
(ETM)—Escrowed to Maturity.
(Prere.)—Prerefunded.
Scheduled principal and interest payments are guaranteed by:
(1) MBIA (Municipal Bond Investors Assurance).
(2) AMBAC (Ambac Assurance Corporation).
(3) FGIC (Financial Guaranty Insurance Company).
(4) AGM (Assured Guaranty Municipal Corporation).
(5) BIGI (Bond Investors Guaranty Insurance).
(6) Connie Lee Inc.
(7) FHA (Federal Housing Authority).
(8) CapMAC (Capital Markets Assurance Corporation).
(9) American Capital Access Financial Guaranty Corporation.
(10) XL Capital Assurance Inc.
(11) CIFG (CDC IXIS Financial Guaranty).
(12) AGC (Assured Guaranty Corporation).
(13) BHAC (Berkshire Hathaway Assurance Corporation).
(14) NPFG (National Public Finance Guarantee Corporation).
(15) BAM (Build America Mutual Assurance Company).
(16) MAC (Municipal Assurance Corporation).
(17) RAA (Radian Asset Assurance Inc.).
(18) SBLF (Michigan School Bond Loan Fund).
(19) TPSF (Texas Permanent School Fund).
(20) NATL (National Public Financial Guarantee Corporation).
The insurance does not guarantee the market value of the municipal bonds.
LOC—Scheduled principal and interest payments are guaranteed by bank letter of credit.
15
New York Municipal Money Market Fund
Statement of Assets and Liabilities
As of May 31, 2020
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value—Unaffiliated Issuers (Cost $3,000,310) | 3,000,310 |
| Investment in Vanguard | 144 |
| Receivables for Investment Securities Sold | 680 |
| Receivables for Accrued Income | 10,534 |
| Receivables for Capital Shares Issued | 3,900 |
| Other Assets | 1,854 |
| Total Assets | 3,017,422 |
| Liabilities | |
| Due to Custodian | 23 |
| Payables for Investment Securities Purchased | 52,100 |
| Payables for Capital Shares Redeemed | 4,339 |
| Payables for Distributions | 44 |
| Payables to Vanguard | 233 |
| Total Liabilities | 56,739 |
| Net Assets | 2,960,683 |
| At May 31, 2020, net assets consisted of: | |
| Paid-in Capital | 2,960,582 |
| Total Distributable Earnings (Loss) | 101 |
| Net Assets | 2,960,683 |
| Net Assets | |
| Applicable to 2,960,353,073 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 2,960,683 |
| Net Asset Value Per Share | $1.00 |
See accompanying Notes, which are an integral part of the Financial Statements.
16
New York Municipal Money Market Fund
Statement of Operations
| Six Months Ended | |
| May 31, 2020 | |
| ($000) | |
| Investment Income | |
| Income | |
| Interest | 19,544 |
| Total Income | 19,544 |
| Expenses | |
| The Vanguard Group—Note B | |
| Investment Advisory Services | 367 |
| Management and Administrative | 2,007 |
| Marketing and Distribution | 251 |
| Custodian Fees | 8 |
| Shareholders’ Reports | 5 |
| Trustees’ Fees and Expenses | 1 |
| Total Expenses | 2,639 |
| Expenses Paid Indirectly | (6) |
| Net Expenses | 2,633 |
| Net Investment Income | 16,911 |
| Realized Net Gain (Loss) on Investment Securities Sold | 102 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 17,013 |
See accompanying Notes, which are an integral part of the Financial Statements.
17
New York Municipal Money Market Fund
Statement of Changes in Net Assets
| Six Months Ended | Year Ended | ||
| May 31, | November 30, | ||
| 2020 | 2019 | ||
| ($000) | ($000) | ||
| Increase (Decrease) in Net Assets | |||
| Operations | |||
| Net Investment Income | 16,911 | 46,809 | |
| Realized Net Gain (Loss) | 102 | 46 | |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 17,013 | 46,855 | |
| Distributions1 | |||
| Total Distributions | (16,920) | (46,812) | |
| Capital Share Transactions (at $1.00 per share) | |||
| Issued | 1,264,049 | 2,104,177 | |
| Issued in Lieu of Cash Distributions | 15,516 | 43,491 | |
| Redeemed | (1,772,601) | (1,908,137) | |
| Net Increase (Decrease) from Capital Share Transactions | (493,036) | 239,531 | |
| Total Increase (Decrease) | (492,943) | 239,574 | |
| Net Assets | |||
| Beginning of Period | 3,453,626 | 3,214,052 | |
| End of Period | 2,960,683 | 3,453,626 | |
1 Certain prior period numbers have been reclassified to conform with current period presentation.
See accompanying Notes, which are an integral part of the Financial Statements.
18
New York Municipal Money Market Fund
Financial Highlights
| Six Months | ||||||||||||
| Ended | ||||||||||||
| For a Share Outstanding | May 31, | Year Ended November 30, | ||||||||||
| Throughout Each Period | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | ||||||
| Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | ||||||
| Investment Operations | ||||||||||||
| Net Investment Income | .005 | 1 | .014 | 1 | .012 | 1 | .007 | 1 | .003 | .0001 | ||
| Net Realized and Unrealized Gain (Loss) on Investments | — | — | — | — | — | — | ||||||
| Total from Investment Operations | .005 | .014 | .012 | .007 | .003 | .0001 | ||||||
| Distributions | ||||||||||||
| Dividends from Net Investment Income | (.005 | ) | (.014 | ) | (.012 | ) | (.007 | ) | (.003 | ) | (.0001 | ) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — | ||||||
| Total Distributions | (.005 | ) | (.014 | ) | (.012 | ) | (.007 | ) | (.003 | ) | (.0001 | ) |
| Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | ||||||
| Total Return2 | 0.51% | 1.39% | 1.24% | 0.67% | 0.26% | 0.01% | ||||||
| Ratios/Supplemental Data | ||||||||||||
| Net Assets, End of Period (Millions) | $2,961 | $3,454 | $3,214 | $2,424 | $2,059 | $2,190 | ||||||
| Ratio of Total Expenses to Average Net Assets | 0.16% | 0.16% | 0.16% | 0.16% | 0.13%3 | 0.06%3 | ||||||
| Ratio of Net Investment Income to Average Net Assets | 1.03% | 1.38% | 1.24% | 0.67% | 0.25% | 0.01% | ||||||
The expense ratio and net investment income ratio for the current period have been annualized.
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
| 3 | The ratio of total expenses to average net assets before an expense reduction was 0.16% for 2016 and 0.16% for 2015. Vanguard and the board of trustees have agreed to temporarily limit certain net operating expenses in excess of the fund’s daily yield in order to maintain a zero or positive yield for the fund. The fund is not obligated to repay this amount to Vanguard. |
See accompanying Notes, which are an integral part of the Financial Statements.
19
New York Municipal Money Market Fund
Notes to Financial Statements
Vanguard New York Municipal Money Market Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund invests in debt instruments of municipal issuers whose ability to meet their obligations may be affected by economic and political developments in the state. Market disruptions associated with the COVID-19 pandemic have had a global impact, and uncertainty exists as to the long-term implications. Such disruptions can adversely affect assets of the fund and thus fund performance.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Securities are valued at amortized cost, which approximates market value.
2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (November 30, 2016–2019), and for the period ended May 31, 2020, and has concluded that no provision for federal income tax is required in the fund’s financial statements.
3. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month. Annual distributions from realized capital gains, if any, are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.
4. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes, subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate (or an acceptable alternate rate, if necessary), federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread, except that borrowings under the uncommitted credit facility may bear interest based upon an alternative rate agreed to by the fund and Vanguard.
In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight, but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
20
New York Municipal Money Market Fund
For the six months ended May 31, 2020, the fund did not utilize the credit facilities or the Interfund Lending Program.
5. Other: Interest income is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At May 31, 2020, the fund had contributed to Vanguard capital in the amount of $144,000, representing less than 0.01% of the fund’s net assets and 0.06% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended May 31, 2020, custodian fee offset arrangements reduced the fund’s expenses by $6,000 (an annual rate of less than 0.01% of average net assets).
D. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.
At May 31, 2020, 100% of the market value of the fund’s investments was determined using amortized cost, in accordance with rules under the Investment Company Act of 1940. Amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, securities valued at amortized cost are considered to be valued using Level 2 inputs.
21
New York Municipal Money Market Fund
E. As of May 31, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:
| Amount | ||
| ($000 | ) | |
| Tax Cost | 3,000,310 | |
| Gross Unrealized Appreciation | — | |
| Gross Unrealized Depreciation | — | |
| Net Unrealized Appreciation (Depreciation) | — |
F. The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended May 31, 2020, such purchases and sales were $353,225,000 and $365,600,000, respectively.
G. Management has determined that no events or transactions occurred subsequent to May 31, 2020, that would require recognition or disclosure in these financial statements.
22
New York Long-Term Tax-Exempt Fund
Distribution by Stated Maturity
As of May 31, 2020
| Under 1 Year | 3.9 | % |
| 1 - 3 Years | 2.5 | |
| 3 - 5 Years | 2.4 | |
| 5 - 10 Years | 10.9 | |
| 10 - 20 Years | 43.1 | |
| 20 - 30 Years | 30.7 | |
| Over 30 Years | 6.5 |
The table reflects the fund’s investments, except for short-term investments.
23
New York Long-Term Tax-Exempt Fund
Financial Statements (unaudited)
Schedule of Investments
As of May 31, 2020
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Tax-Exempt Municipal Bonds (99.8%) | |||||
| New York (99.3%) | |||||
| Albany NY Capital Resource Corp. Revenue (St. Peter’s Hospital) | 6.000% | 11/15/20 (Prere.) | 325 | 333 | |
| Albany NY Capital Resource Corp. Revenue (St. Peter’s Hospital) | 6.125% | 11/15/20 (Prere.) | 150 | 154 | |
| Amherst NY Development Corp. Revenue (Daemen College Project) | 5.000% | 10/1/43 | 975 | 997 | |
| Amherst NY Development Corp. Revenue (Daemen College Project) | 5.000% | 10/1/48 | 800 | 815 | |
| Amherst NY Development Corp. Student Housing Facility Revenue | 5.000% | 10/1/20 (Prere.) | 2,500 | 2,539 | |
| Amherst NY Development Corp. Student Housing Facility Revenue | 5.000% | 10/1/20 (Prere.) | 3,800 | 3,859 | |
| Battery Park City NY Authority Revenue PUT | 0.130% | 6/5/20 LOC | 150 | 150 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Barclays Center Project) | 0.000% | 7/15/31 | 10,890 | 6,378 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Barclays Center Project) | 0.000% | 7/15/32 | 2,000 | 1,104 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Barclays Center Project) | 0.000% | 7/15/33 | 2,385 | 1,235 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Barclays Center Project) | 0.000% | 7/15/35 | 1,750 | 805 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Barclays Center Project) | 0.000% | 7/15/45 | 3,180 | 812 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Barclays Center Project) | 0.000% | 7/15/46 | 1,305 | 314 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Brooklyn Events Center) | 5.000% | 7/15/22 | 1,250 | 1,277 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Brooklyn Events Center) | 5.000% | 7/15/24 | 1,800 | 1,864 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Brooklyn Events Center) | 5.000% | 7/15/25 | 1,655 | 1,722 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Brooklyn Events Center) | 5.000% | 7/15/26 | 3,000 | 3,128 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Brooklyn Events Center) | 5.000% | 7/15/30 | 5,990 | 6,142 | |
| Brooklyn NY Local Development Corp. PILOT Revenue (Brooklyn Events Center) | 5.000% | 7/15/42 | 3,830 | 3,759 | |
| Buffalo & Erie County NY Industrial Land Development Corp. Revenue | 5.000% | 11/15/24 | 1,395 | 1,432 | |
24
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Buffalo & Erie County NY Industrial Land Development Corp. Revenue | 5.000% | 7/1/25 | 2,170 | 2,505 | |
| Buffalo & Erie County NY Industrial Land Development Corp. Revenue | 5.000% | 11/15/25 | 1,590 | 1,637 | |
| Buffalo & Erie County NY Industrial Land Development Corp. Revenue | 5.000% | 11/15/37 | 5,515 | 5,509 | |
| Buffalo & Erie County NY Industrial Land Development Corp. Revenue | 5.000% | 7/1/40 | 5,270 | 5,809 | |
| Buffalo & Erie County NY Industrial Land Development Corp. Revenue (Catholic Health System Obligated Group) | 5.000% | 7/1/30 | 1,155 | 1,308 | |
| Buffalo & Erie County NY Industrial Land Development Corp. Revenue (Catholic Health System Obligated Group) | 5.250% | 7/1/35 | 2,430 | 2,746 | |
| Buffalo & Fort Erie NY Public Bridge Authority Revenue | 5.000% | 1/1/47 | 3,000 | 3,556 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 5.000% | 7/1/24 | 500 | 584 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 5.000% | 7/1/25 | 630 | 758 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 5.000% | 7/1/26 | 1,000 | 1,211 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 5.000% | 7/1/28 | 2,010 | 2,431 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 5.000% | 7/1/29 | 500 | 604 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 3.000% | 7/1/35 (4) | 400 | 422 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 3.000% | 7/1/36 (4) | 400 | 421 | |
| Buffalo NY Municipal Water Finance Authority Revenue | 3.000% | 7/1/37 (4) | 465 | 485 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 5.000% | 7/1/25 | 100 | 120 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 5.000% | 7/1/26 | 85 | 105 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 5.000% | 7/1/27 | 75 | 94 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 5.000% | 7/1/35 | 130 | 164 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 4.000% | 7/1/36 | 130 | 155 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 4.000% | 7/1/37 | 165 | 189 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 4.000% | 7/1/38 | 150 | 171 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 3.000% | 7/1/39 | 550 | 566 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 4.000% | 7/1/44 | 975 | 1,092 | |
| Build NYC NY Resource Corp. Revenue (Children’s Aid Society) | 4.000% | 7/1/49 | 1,400 | 1,559 | |
| Build NYC NY Resource Corp. Revenue (Consortium for Worker Education Inc.) | 5.000% | 12/1/39 | 2,140 | 1,951 | |
25
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Build NYC NY Resource Corp. Revenue (Consortium for Worker Education Inc.) | 5.000% | 12/1/49 | 1,455 | 1,253 | |
| Copiague NY Union Free School District GO | 3.000% | 2/15/33 | 1,005 | 1,066 | |
| Dobbs Ferry NY Local Development Corp. Revenue (Mercy College Project) | 5.000% | 7/1/39 | 3,120 | 3,401 | |
| Dobbs Ferry NY Local Development Corp. Revenue (Mercy College Project) | 5.000% | 7/1/44 | 2,635 | 2,855 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/25 | 500 | 544 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/26 | 300 | 328 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/27 | 700 | 761 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/28 | 950 | 1,029 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/29 | 500 | 539 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/29 | 250 | 275 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/30 | 380 | 408 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/30 | 220 | 241 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/31 | 575 | 614 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/31 | 1,170 | 1,272 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/32 | 240 | 255 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/32 | 450 | 486 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/33 | 200 | 211 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/33 | 250 | 268 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/34 | 1,390 | 1,487 | |
26
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/36 | 170 | 179 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/41 | 415 | 431 | |
| Dutchess County NY Local Development Corp. Revenue (Culinary Institute of America Project) | 5.000% | 7/1/46 | 300 | 310 | |
| Dutchess County NY Local Development Corp. Revenue (Health Quest Systems Inc. Project) | 5.000% | 7/1/24 (Prere.) | 655 | 778 | |
| Dutchess County NY Local Development Corp. Revenue (Health Quest Systems Inc. Project) | 5.000% | 7/1/24 (Prere.) | 2,000 | 2,375 | |
| Dutchess County NY Local Development Corp. Revenue (Health Quest Systems Inc. Project) | 5.000% | 7/1/28 | 1,505 | 1,775 | |
| Dutchess County NY Local Development Corp. Revenue (Health Quest Systems Inc. Project) | 5.000% | 7/1/28 | 2,000 | 2,359 | |
| Dutchess County NY Local Development Corp. Revenue (Health Quest Systems Inc. Project) | 5.000% | 7/1/29 | 1,595 | 1,874 | |
| Dutchess County NY Local Development Corp. Revenue (Marist College Project) | 5.000% | 7/1/40 | 1,445 | 1,612 | |
| Dutchess County NY Local Development Corp. Revenue (Marist College Project) | 5.000% | 7/1/45 | 1,240 | 1,373 | |
| Dutchess County NY Local Development Corp. Revenue (Nuvance Health) | 4.000% | 7/1/34 | 2,135 | 2,403 | |
| Dutchess County NY Local Development Corp. Revenue (Nuvance Health) | 4.000% | 7/1/35 | 1,000 | 1,116 | |
| Dutchess County NY Local Development Corp. Revenue (Nuvance Health) | 4.000% | 7/1/37 | 1,100 | 1,213 | |
| Dutchess County NY Local Development Corp. Revenue (Nuvance Health) | 4.000% | 7/1/38 | 1,000 | 1,099 | |
| Dutchess County NY Local Development Corp. Revenue (Nuvance Health) | 4.000% | 7/1/44 | 3,810 | 4,100 | |
| Dutchess County NY Local Development Corp. Revenue (Nuvance Health) | 4.000% | 7/1/49 | 6,600 | 7,077 | |
| Dutchess County NY Local Development Corp. Revenue (Vassar College Project) | 5.000% | 7/1/33 | 1,105 | 1,323 | |
| Dutchess County NY Local Development Corp. Revenue (Vassar College Project) | 5.000% | 7/1/34 | 1,345 | 1,605 | |
| Dutchess County NY Local Development Corp. Revenue (Vassar College Project) | 5.000% | 7/1/35 | 1,200 | 1,427 | |
| Dutchess County NY Local Development Corp. Revenue (Vassar College Project) | 5.000% | 7/1/37 | 1,000 | 1,181 | |
| Dutchess County NY Local Development Corp. Revenue (Vassar College Project) | 5.000% | 7/1/42 | 7,250 | 8,474 | |
| Dutchess County NY Local Development Corp. Revenue (Vassar College Project) | 5.000% | 7/1/45 | 9,150 | 11,197 | |
| Dutchess County NY Local Development Corp. Revenue (Vassar College Project) | 4.000% | 7/1/46 | 5,500 | 5,973 | |
27
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Erie County NY Fiscal Stability Authority Revenue | 4.000% | 9/1/31 | 1,000 | 1,202 | |
| Erie County NY Fiscal Stability Authority Revenue | 4.000% | 9/1/33 | 600 | 708 | |
| Erie County NY Fiscal Stability Authority Revenue | 5.000% | 9/1/39 | 1,010 | 1,258 | |
| Erie County NY GO | 5.000% | 4/1/25 | 560 | 606 | |
| 1 | Erie County NY Industrial Development Agency School Facility Revenue (Buffalo City School District Project) TOB VRDO | 0.190% | 6/5/20 | 4,135 | 4,135 |
| Haverstraw-Stony Point NY Central School District GO | 3.000% | 10/15/29 | 2,250 | 2,538 | |
| Haverstraw-Stony Point NY Central School District GO | 3.000% | 10/15/30 | 2,000 | 2,227 | |
| Haverstraw-Stony Point NY Central School District GO | 5.000% | 10/15/31 (4) | 1,100 | 1,264 | |
| Haverstraw-Stony Point NY Central School District GO | 5.000% | 10/15/33 (4) | 300 | 344 | |
| Haverstraw-Stony Point NY Central School District GO | 5.000% | 10/15/36 (4) | 1,000 | 1,145 | |
| Hempstead NY GO | 4.000% | 4/1/29 (4) | 4,500 | 5,158 | |
| Hempstead NY Local Development Corp. Revenue (Adelphi University) | 5.000% | 9/1/43 | 5,000 | 5,322 | |
| Hempstead NY Local Development Corp. Revenue (Hofstra University) | 5.000% | 7/1/22 | 2,130 | 2,215 | |
| Hempstead NY Local Development Corp. Revenue (Hofstra University) | 5.000% | 7/1/41 | 2,815 | 2,874 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/26 | 700 | 797 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/27 | 1,740 | 2,001 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/29 | 2,170 | 2,363 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/30 | 670 | 753 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/32 | 370 | 410 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/34 | 1,800 | 1,922 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/38 | 480 | 521 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/38 | 870 | 953 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/39 | 1,645 | 1,737 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/43 | 1,025 | 1,106 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/44 | 1,670 | 1,745 | |
| Hempstead NY Local Development Corp. Revenue (Molloy College) | 5.000% | 7/1/48 | 1,100 | 1,183 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.250% | 2/15/21 (Prere.) | 350 | 362 | |
28
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/32 | 2,500 | 3,025 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/33 | 2,125 | 2,555 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/34 | 14,000 | 16,767 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/36 | 5,270 | 6,257 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/37 | 3,600 | 4,259 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/38 | 3,000 | 3,538 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/39 | 4,500 | 5,295 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/42 | 12,750 | 14,917 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 4.000% | 2/15/44 | 11,000 | 11,967 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.000% | 2/15/45 | 9,500 | 11,059 | |
| Hudson Yards Infrastructure Corp. New York Revenue | 5.750% | 2/15/47 | 2,860 | 2,959 | |
| Johnstown NY City School District GO | 3.000% | 6/15/33 | 1,935 | 2,031 | |
| Long Island NY Power Authority Electric System Revenue | 0.000% | 6/1/24 (4) | 19,830 | 19,155 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/26 | 3,400 | 3,702 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/26 | 1,000 | 1,202 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/26 | 520 | 640 | |
| Long Island NY Power Authority Electric System Revenue | 0.000% | 6/1/27 (4) | 15,905 | 14,416 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/27 | 865 | 1,088 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/29 | 1,550 | 1,686 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/29 | 1,000 | 1,242 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/33 | 750 | 911 | |
| Long Island NY Power Authority Electric System Revenue | 4.000% | 9/1/34 | 12,550 | 14,369 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/34 | 4,500 | 5,165 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/34 | 1,050 | 1,273 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/35 | 6,000 | 6,879 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/35 | 1,500 | 1,812 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/35 | 2,400 | 2,963 | |
29
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/36 | 2,000 | 2,364 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/36 | 2,285 | 2,810 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/37 | 7,625 | 8,243 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/37 | 2,150 | 2,634 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/38 | 2,150 | 2,626 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/39 | 5,500 | 6,286 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/41 | 2,500 | 2,930 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/42 | 7,500 | 8,939 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/44 | 17,550 | 19,997 | |
| Long Island NY Power Authority Electric System Revenue | 5.000% | 9/1/47 | 4,015 | 4,764 | |
| Long Island NY Power Authority Electric System Revenue PUT | 1.650% | 9/1/24 | 5,000 | 4,994 | |
| Madison County NY Capital Resource Corp. Revenue (Colgate University Project) | 5.000% | 7/1/40 | 1,495 | 1,731 | |
| Madison County NY Capital Resource Corp. Revenue (Colgate University Project) | 5.000% | 7/1/43 | 6,000 | 6,915 | |
| Metropolitan Transportation Authority NY BAN | 5.000% | 5/15/22 | 7,000 | 7,167 | |
| Metropolitan Transportation Authority NY Revenue | 5.250% | 11/15/24 (2) | 10,000 | 10,643 | |
| Metropolitan Transportation Authority NY Revenue | 4.000% | 11/15/26 | 410 | 457 | |
| Metropolitan Transportation Authority NY Revenue | 5.000% | 5/15/30 | 5,000 | 5,429 | |
| Metropolitan Transportation Authority NY Revenue | 0.000% | 11/15/33 | 500 | 295 | |
| Metropolitan Transportation Authority NY Revenue | 4.000% | 11/15/40 | 5,000 | 5,010 | |
| Metropolitan Transportation Authority NY Revenue | 4.000% | 11/15/41 | 155 | 155 | |
| Metropolitan Transportation Authority NY Revenue | 5.000% | 11/15/44 (4) | 5,000 | 5,675 | |
| Metropolitan Transportation Authority NY Revenue | 4.750% | 11/15/45 | 8,000 | 8,488 | |
| Metropolitan Transportation Authority NY Revenue | 4.000% | 11/15/46 | 1,500 | 1,487 | |
| Metropolitan Transportation Authority NY Revenue | 5.000% | 11/15/49 | 2,500 | 2,696 | |
| Metropolitan Transportation Authority NY Revenue | 5.000% | 11/15/50 | 10,000 | 10,789 | |
| Metropolitan Transportation Authority NY Revenue | 4.000% | 11/15/51 | 4,000 | 3,952 | |
| Metropolitan Transportation Authority NY Revenue | 5.000% | 11/15/52 (15) | 5,000 | 5,692 | |
30
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Metropolitan Transportation Authority NY Revenue | 4.000% | 11/15/53 (15) | 540 | 571 | |
| Metropolitan Transportation Authority NY Revenue | 4.000% | 11/15/54 (4) | 15,310 | 16,183 | |
| Metropolitan Transportation Authority NY Revenue | 5.250% | 11/15/55 | 5,000 | 5,500 | |
| Metropolitan Transportation Authority NY Revenue PUT | 5.000% | 11/15/24 | 17,500 | 18,418 | |
| 1 | Metropolitan Transportation Authority NY Revenue TOB VRDO | 0.240% | 6/5/20 (4) | 2,975 | 2,975 |
| Monroe County NY Industrial Development Agency School Facility Revenue (Rochester Schools Modernization Project) | 5.000% | 5/1/33 | 1,330 | 1,698 | |
| Monroe County NY Industrial Development Agency School Facility Revenue (Rochester Schools Modernization Project) | 5.000% | 5/1/34 | 1,750 | 2,229 | |
| Monroe County NY Industrial Development Agency School Facility Revenue (Rochester Schools Modernization Project) | 5.000% | 5/1/35 | 1,250 | 1,589 | |
| Monroe County NY Industrial Development Corp. Mortgage Revenue (Unity Hospital Rochester Project) | 5.500% | 8/15/23 | 305 | 306 | |
| Monroe County NY Industrial Development Corp. Mortgage Revenue (Unity Hospital Rochester Project) | 5.750% | 8/15/30 | 3,500 | 3,613 | |
| Monroe County NY Industrial Development Corp. Mortgage Revenue (Unity Hospital Rochester Project) | 5.750% | 8/15/35 | 3,000 | 3,085 | |
| Monroe County NY Industrial Development Corp. Mortgage Revenue (Unity Hospital Rochester Project) | 5.500% | 8/15/40 | 3,700 | 3,792 | |
| Monroe County NY Industrial Development Corp. Revenue (Nazareth College of Rochester Project) | 5.000% | 10/1/22 | 340 | 362 | |
| Monroe County NY Industrial Development Corp. Revenue (Nazareth College of Rochester Project) | 5.000% | 10/1/23 | 470 | 510 | |
| Monroe County NY Industrial Development Corp. Revenue (Nazareth College of Rochester Project) | 5.000% | 10/1/32 | 600 | 663 | |
| Monroe County NY Industrial Development Corp. Revenue (Nazareth College of Rochester Project) | 4.000% | 10/1/47 | 1,300 | 1,241 | |
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/27 | 1,550 | 1,850 | |
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/29 | 1,000 | 1,184 | |
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/34 | 1,100 | 1,273 | |
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/35 | 1,055 | 1,217 | |
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/36 | 1,100 | 1,265 | |
31
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/37 | 2,600 | 2,767 | |
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/42 | 5,635 | 5,966 | |
| Monroe County NY Industrial Development Corp. Revenue (Rochester General Hospital) | 5.000% | 12/1/46 | 5,000 | 5,684 | |
| Monroe County NY Industrial Development Corp. Revenue (St. John Fisher College Project) | 5.500% | 6/1/39 | 1,500 | 1,628 | |
| Monroe County NY Industrial Development Corp. Revenue (St. John Fisher College Project) | 5.000% | 6/1/44 | 2,500 | 2,656 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 4.000% | 7/1/33 | 1,650 | 1,864 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/29 | 1,250 | 1,476 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/31 | 1,000 | 1,174 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/31 | 2,000 | 2,456 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 4.000% | 7/1/32 | 1,780 | 2,024 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 4.000% | 7/1/32 | 1,295 | 1,473 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/32 | 1,640 | 1,916 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/33 | 1,400 | 1,630 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 4.000% | 7/1/36 | 1,000 | 1,113 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 4.000% | 7/1/36 | 900 | 1,001 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/36 | 1,000 | 1,201 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/37 | 1,000 | 1,153 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 4.000% | 7/1/39 | 1,500 | 1,617 | |
| Monroe County NY Industrial Development Corp. Revenue (University of Rochester Project) | 5.000% | 7/1/45 | 4,030 | 4,589 | |
32
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Mount Vernon NY School District GO | 4.000% | 12/1/32 | 2,480 | 2,907 | |
| Mount Vernon NY School District GO | 4.000% | 12/1/33 | 2,370 | 2,766 | |
| Nassau County NY GO | 5.000% | 4/1/34 | 1,740 | 1,943 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (South Nassau Communities Hospital) | 5.000% | 7/1/21 | 715 | 747 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (South Nassau Communities Hospital) | 5.000% | 7/1/22 | 2,350 | 2,550 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (South Nassau Communities Hospital) | 5.000% | 7/1/27 | 8,075 | 8,634 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (South Nassau Communities Hospital) | 5.000% | 7/1/31 | 2,000 | 2,125 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (South Nassau Communities Hospital) | 5.000% | 7/1/37 | 1,000 | 1,054 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (Winthrop University Hospital Association Project) | 5.000% | 7/1/22 (Prere.) | 4,000 | 4,392 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (Winthrop University Hospital Association Project) | 5.000% | 7/1/22 (Prere.) | 3,025 | 3,322 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (Winthrop University Hospital Association Project) | 5.000% | 7/1/22 (Prere.) | 8,245 | 9,054 | |
| Nassau County NY Local Economic Assistance & Financing Corp. Revenue (Winthrop University Hospital Association Project) | 5.000% | 7/1/22 (Prere.) | 1,535 | 1,686 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/23 | 700 | 778 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/23 | 125 | 139 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/24 | 500 | 571 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/24 | 125 | 143 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/25 | 1,400 | 1,581 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/28 | 1,500 | 1,665 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/28 | 1,690 | 1,876 | |
33
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/29 | 1,565 | 1,733 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/30 | 1,750 | 1,931 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/31 | 1,000 | 1,100 | |
| Nassau County NY Local Economic Assistance Corp. Revenue (Catholic Health Services of Long Island Obligated Group Project) | 5.000% | 7/1/34 | 2,220 | 2,421 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/22 | 270 | 287 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/25 | 325 | 366 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/26 | 335 | 373 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/27 | 425 | 471 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/28 | 375 | 414 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/33 | 1,135 | 1,222 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/35 | 1,000 | 1,072 | |
| New Rochelle NY Corporate Local Development Revenue (Iona College Project) | 5.000% | 7/1/45 | 2,030 | 2,139 | |
| New York City NY Build NYC Resource Corp. Revenue (Ethical Culture Fieldston Project) | 5.000% | 6/1/24 | 750 | 841 | |
| New York City NY Build NYC Resource Corp. Revenue (Methodist Hospital Project) | 5.000% | 7/1/23 | 1,400 | 1,559 | |
| New York City NY Build NYC Resource Corp. Revenue (Methodist Hospital Project) | 5.000% | 7/1/25 | 1,325 | 1,511 | |
| New York City NY Build NYC Resource Corp. Revenue (Methodist Hospital Project) | 5.000% | 7/1/27 | 1,000 | 1,131 | |
| New York City NY Build NYC Resource Corp. Revenue (New York Law School Project) | 5.000% | 7/1/20 | 1,775 | 1,778 | |
| New York City NY Build NYC Resource Corp. Revenue (New York Law School Project) | 5.000% | 7/1/21 | 1,875 | 1,920 | |
| New York City NY Build NYC Resource Corp. Revenue (New York Law School Project) | 5.000% | 7/1/22 | 3,010 | 3,129 | |
| New York City NY Build NYC Resource Corp. Revenue (New York Law School Project) | 5.000% | 7/1/29 | 1,890 | 1,986 | |
| New York City NY Build NYC Resource Corp. Revenue (New York Law School Project) | 5.000% | 7/1/36 | 5,000 | 5,095 | |
| New York City NY Build NYC Resource Corp. Revenue (New York Law School Project) | 5.000% | 7/1/41 | 1,875 | 1,888 | |
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/27 | 200 | 236 | |
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/28 | 270 | 316 | |
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/29 | 225 | 264 | |
34
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/30 | 310 | 363 | |
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/32 | 660 | 772 | |
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/33 | 730 | 853 | |
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/34 | 580 | 677 | |
| New York City NY Build NYC Resource Corp. Revenue (Queens College) | 5.000% | 6/1/38 | 1,000 | 1,161 | |
| New York City NY Build NYC Resource Corp. Revenue (YMCA of Greater New York) | 5.000% | 8/1/29 | 1,000 | 1,146 | |
| New York City NY Build NYC Resource Corp. Revenue (YMCA of Greater New York) | 4.000% | 8/1/36 | 1,130 | 1,190 | |
| New York City NY Educational Construction Fund | 5.000% | 4/1/36 | 3,100 | 3,885 | |
| New York City NY Educational Construction Fund | 5.000% | 4/1/37 | 2,850 | 3,558 | |
| New York City NY GO | 5.000% | 8/1/22 | 2,535 | 2,790 | |
| New York City NY GO | 5.000% | 8/1/24 | 3,390 | 3,990 | |
| New York City NY GO | 5.000% | 8/1/24 | 2,965 | 3,489 | |
| New York City NY GO | 5.000% | 8/1/25 | 2,360 | 2,613 | |
| New York City NY GO | 5.000% | 8/1/26 | 3,140 | 3,804 | |
| New York City NY GO | 5.000% | 8/1/27 | 4,560 | 5,287 | |
| New York City NY GO | 5.000% | 8/1/28 | 3,000 | 3,555 | |
| New York City NY GO | 5.000% | 8/1/28 | 2,320 | 2,950 | |
| New York City NY GO | 5.000% | 8/1/29 | 5,010 | 5,851 | |
| New York City NY GO | 5.000% | 8/1/29 | 3,515 | 4,209 | |
| New York City NY GO | 5.000% | 8/1/29 | 5,070 | 6,157 | |
| New York City NY GO | 5.000% | 8/1/29 | 5,195 | 6,569 | |
| New York City NY GO | 5.000% | 8/1/30 | 6,220 | 6,958 | |
| New York City NY GO | 5.000% | 8/1/30 | 2,335 | 2,659 | |
| New York City NY GO | 5.000% | 8/1/30 | 3,000 | 3,539 | |
| New York City NY GO | 5.000% | 8/1/30 | 5,050 | 6,109 | |
| New York City NY GO | 5.000% | 8/1/30 | 4,720 | 5,710 | |
| New York City NY GO | 5.000% | 8/1/30 | 4,000 | 5,022 | |
| New York City NY GO | 5.000% | 3/1/31 | 6,000 | 6,608 | |
| New York City NY GO | 4.000% | 8/1/31 | 2,775 | 3,233 | |
| New York City NY GO | 5.000% | 8/1/31 | 2,000 | 2,307 | |
| New York City NY GO | 5.000% | 8/1/31 | 8,550 | 10,176 | |
| New York City NY GO | 5.000% | 8/1/31 | 1,440 | 1,795 | |
| New York City NY GO | 5.000% | 8/1/31 | 7,810 | 9,615 | |
| New York City NY GO | 5.000% | 12/1/31 | 1,770 | 2,150 | |
| New York City NY GO | 5.000% | 3/1/32 | 5,000 | 5,492 | |
| New York City NY GO | 4.000% | 8/1/32 | 1,935 | 2,229 | |
| New York City NY GO | 5.000% | 8/1/32 | 8,770 | 10,177 | |
| New York City NY GO | 5.000% | 8/1/32 | 3,735 | 4,618 | |
| New York City NY GO | 5.000% | 8/1/32 | 1,250 | 1,581 | |
| New York City NY GO | 5.000% | 3/1/33 | 4,500 | 4,965 | |
| New York City NY GO | 5.000% | 8/1/33 | 2,875 | 3,398 | |
| New York City NY GO | 5.000% | 8/1/33 | 1,010 | 1,120 | |
| New York City NY GO | 5.000% | 8/1/33 | 1,145 | 1,371 | |
| New York City NY GO | 5.000% | 8/1/33 | 1,000 | 1,256 | |
| New York City NY GO | 4.000% | 8/1/34 | 4,535 | 5,193 | |
35
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY GO | 5.000% | 8/1/34 | 2,000 | 2,502 | |
| New York City NY GO | 5.000% | 8/1/34 | 2,260 | 2,827 | |
| New York City NY GO | 5.000% | 12/1/34 | 5,000 | 6,222 | |
| New York City NY GO | 5.000% | 10/1/35 | 1,945 | 2,352 | |
| New York City NY GO | 5.000% | 12/1/35 | 2,500 | 3,002 | |
| New York City NY GO | 4.000% | 3/1/36 | 1,500 | 1,748 | |
| New York City NY GO | 5.000% | 6/1/36 | 910 | 1,055 | |
| New York City NY GO | 4.000% | 8/1/36 | 2,500 | 2,839 | |
| New York City NY GO | 5.000% | 10/1/36 | 5,000 | 6,025 | |
| New York City NY GO | 5.000% | 10/1/36 | 15 | 16 | |
| New York City NY GO | 5.000% | 3/1/37 | 6,790 | 7,400 | |
| New York City NY GO | 5.000% | 3/1/37 | 7,500 | 9,106 | |
| New York City NY GO | 5.000% | 3/1/37 | 3,500 | 4,425 | |
| New York City NY GO | 5.000% | 8/1/37 | 4,000 | 4,758 | |
| New York City NY GO | 5.000% | 3/1/38 | 7,500 | 9,104 | |
| New York City NY GO | 5.000% | 3/1/38 | 2,000 | 2,518 | |
| New York City NY GO | 5.000% | 4/1/38 | 1,000 | 1,216 | |
| New York City NY GO | 5.000% | 8/1/38 | 10,000 | 11,877 | |
| New York City NY GO | 5.000% | 10/1/38 | 6,500 | 7,809 | |
| New York City NY GO | 5.000% | 3/1/39 | 2,000 | 2,510 | |
| New York City NY GO | 5.000% | 10/1/39 | 8,910 | 10,648 | |
| New York City NY GO | 4.000% | 3/1/41 | 4,000 | 4,575 | |
| New York City NY GO | 4.000% | 10/1/41 | 6,000 | 6,658 | |
| New York City NY GO | 4.000% | 12/1/41 | 1,215 | 1,367 | |
| New York City NY GO | 5.000% | 12/1/41 | 8,000 | 9,537 | |
| New York City NY GO | 4.000% | 3/1/42 | 1,500 | 1,711 | |
| New York City NY GO | 4.000% | 12/1/42 | 3,835 | 4,306 | |
| New York City NY GO | 5.000% | 3/1/43 | 5,500 | 6,832 | |
| New York City NY GO | 5.000% | 4/1/43 | 5,000 | 5,992 | |
| New York City NY GO | 4.000% | 12/1/43 | 1,835 | 2,056 | |
| New York City NY GO | 4.000% | 12/1/43 | 2,415 | 2,705 | |
| New York City NY GO | 4.000% | 3/1/44 | 2,000 | 2,270 | |
| New York City NY GO | 4.000% | 8/1/44 | 9,205 | 10,371 | |
| New York City NY GO | 3.000% | 3/1/45 | 2,000 | 2,037 | |
| New York City NY GO | 5.000% | 4/1/45 | 5,000 | 5,969 | |
| New York City NY GO | 4.000% | 3/1/50 | 12,025 | 13,519 | |
| New York City NY GO VRDO | 0.070% | 6/1/20 LOC | 695 | 695 | |
| New York City NY GO VRDO | 0.080% | 6/1/20 LOC | 2,140 | 2,140 | |
| New York City NY Housing Development Corp. Capital Fund Grant Program Revenue (New York City Housing Authority Program) | 5.000% | 7/1/23 | 1,000 | 1,136 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 5.250% | 7/1/28 | 2,700 | 3,054 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 5.250% | 7/1/29 | 3,035 | 3,428 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 5.250% | 7/1/30 | 2,605 | 2,938 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 3.700% | 11/1/30 | 3,000 | 3,235 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 3.600% | 11/1/33 | 4,000 | 4,365 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 3.700% | 11/15/34 | 5,000 | 5,258 | |
36
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 4.250% | 11/1/43 | 16,000 | 17,384 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 3.950% | 11/1/48 | 8,000 | 8,498 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue | 4.000% | 11/1/53 | 15,000 | 15,908 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 2.800% | 5/1/28 | 2,025 | 2,222 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 2.850% | 11/1/28 | 3,195 | 3,509 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 2.900% | 5/1/29 | 3,480 | 3,824 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 2.950% | 11/1/29 | 1,670 | 1,836 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.100% | 5/1/30 | 1,300 | 1,424 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.125% | 11/1/30 | 2,000 | 2,189 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.150% | 5/1/31 | 1,325 | 1,448 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.400% | 11/1/39 | 3,000 | 3,229 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.800% | 11/1/39 | 2,355 | 2,534 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.800% | 11/1/47 | 1,000 | 1,057 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.900% | 11/1/48 | 4,000 | 4,238 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 4.050% | 11/1/48 | 4,040 | 4,330 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.650% | 11/1/49 | 3,550 | 3,778 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.950% | 11/1/49 | 3,500 | 3,740 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) | 3.750% | 11/1/54 | 3,225 | 3,404 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue (Sustainable Neighborhood) PUT | 1.750% | 7/3/23 | 4,000 | 4,050 | |
37
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Housing Development Corp. Multi-Family Housing Revenue PUT | 2.950% | 2/1/26 | 7,000 | 7,619 | |
| New York City NY Housing Development Corp. Multi-Family Housing Revenue PUT | 2.950% | 2/1/26 | 5,050 | 5,497 | |
| New York City NY Housing Development Corp. Multi-Family Mortgage Revenue (8 Spruce Street) | 3.500% | 2/15/48 | 10,030 | 10,130 | |
| New York City NY Housing Development Corp. Revenue | 5.000% | 7/1/25 | 4,220 | 4,762 | |
| New York City NY Housing Development Corp. Revenue | 5.250% | 7/1/30 | 15,000 | 16,919 | |
| New York City NY Industrial Development Agency Civic Facility Revenue (Churchill School Center Project) | 2.250% | 10/1/29 (12) | 1,425 | 1,462 | |
| New York City NY Industrial Development Agency Civic Facility Revenue (United Jewish Appeal-Federation of Jewish Philanthropies of New York, Inc.) | 5.000% | 7/1/34 | 4,865 | 5,221 | |
| New York City NY Industrial Development Agency PILOT Revenue (Queens Baseball Stadium Project) | 6.125% | 1/1/29 (12) | 1,620 | 1,627 | |
| New York City NY Industrial Development Agency PILOT Revenue (Queens Baseball Stadium Project) | 6.375% | 1/1/39 (12) | 4,000 | 4,018 | |
| New York City NY Industrial Development Agency PILOT Revenue (Yankee Stadium Project) | 0.000% | 3/1/34 (12) | 5,285 | 3,730 | |
| New York City NY Industrial Development Agency PILOT Revenue (Yankee Stadium Project) | 0.000% | 3/1/35 (12) | 4,305 | 2,920 | |
| New York City NY Industrial Development Agency PILOT Revenue (Yankee Stadium Project) | 7.000% | 3/1/49 (12) | 14,550 | 14,620 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/28 | 2,545 | 3,061 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/32 | 3,000 | 3,625 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/34 | 6,125 | 6,827 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/34 | 3,000 | 3,607 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/35 | 3,000 | 3,598 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/36 | 10,035 | 11,541 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/36 | 7,500 | 9,247 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/36 | 3,000 | 3,589 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/37 | 11,150 | 12,776 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/37 | 3,005 | 3,586 | |
38
New York Long-Term Tax-Exempt Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/37 | 2,500 | 2,943 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/37 | 4,965 | 5,845 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/37 | 10,000 | 12,288 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/38 | 10,000 | 12,107 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/39 | 5,025 | 5,722 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/39 | 7,500 | 8,814 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/39 | 5,915 | 6,951 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/39 | 10,040 | 11,799 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/40 | 7,000 | 8,262 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/41 | 7,500 | 8,759 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/41 | 5,000 | 5,882 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/41 | 4,740 | 5,615 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/42 | 5,000 | 5,904 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/45 | 8,545 | 9,718 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/46 | 24,465 | 27,014 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/46 | 14,455 | 16,849 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/46 | 15,000 | 18,116 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/47 | 7,455 | 8,491 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/47 | 10,500 | 12,561 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 4.000% | 6/15/49 | 7,000 | 7,957 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue | 5.000% | 6/15/49 | 11,735 | 14,454 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.060% | 6/1/20 | 85 | 85 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 2,130 | 2,130 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 1,520 | 1,520 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 4,285 | 4,285 |
39
New York Long-Term Tax-Exempt Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 6,200 | 6,200 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 29,100 | 29,100 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 2,000 | 2,000 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 2,150 | 2,150 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 14,200 | 14,200 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 7,300 | 7,300 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.070% | 6/1/20 | 1,100 | 1,100 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.080% | 6/1/20 | 5,700 | 5,700 | |
| New York City NY Municipal Water Finance Authority Water & Sewer System Revenue VRDO | 0.130% | 6/5/20 | 16,855 | 16,855 | |
| New York City NY Sales Tax Asset Receivable Corp. Revenue | 5.000% | 10/15/29 | 10,000 | 11,789 | |
| New York City NY Sales Tax Asset Receivable Corp. Revenue | 5.000% | 10/15/30 | 2,800 | 3,294 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/26 | 1,970 | 2,324 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/29 | 5,000 | 5,414 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/31 | 2,820 | 3,587 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/32 | 3,750 | 4,723 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/32 | 1,910 | 2,405 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/32 | 5,215 | 6,410 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/33 | 8,205 | 8,848 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/33 | 5,000 | 5,796 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/33 | 5,000 | 6,257 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/34 | 3,000 | 3,737 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/34 | 2,500 | 2,937 |
40
New York Long-Term Tax-Exempt Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/35 | 4,745 | 5,751 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/36 | 3,100 | 3,494 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/36 | 3,520 | 4,025 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/36 | 5,000 | 5,765 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/36 | 5,000 | 6,169 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/37 | 5,050 | 5,751 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/37 | 8,000 | 9,832 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/38 | 14,190 | 16,112 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/38 | 5,000 | 5,677 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/38 | 3,000 | 3,676 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/39 | 3,000 | 3,398 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/40 | 5,000 | 5,461 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/40 | 11,510 | 13,203 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/40 | 7,010 | 8,148 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/41 | 2,000 | 2,321 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/43 | 1,410 | 1,613 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 5.000% | 7/15/43 | 10,500 | 12,724 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/45 | 5,000 | 5,639 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 4.000% | 7/15/46 | 3,000 | 3,343 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 3.500% | 7/15/47 | 8,510 | 9,062 | |
| New York City NY Transitional Finance Authority Building Aid Revenue | 3.000% | 7/15/49 | 5,000 | 5,173 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.500% | 11/1/20 (Prere.) | 1,305 | 1,334 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.250% | 2/1/21 (Prere.) | 185 | 191 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.250% | 2/1/21 (Prere.) | 1,225 | 1,266 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 11/1/27 | 2,530 | 3,020 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 11/1/29 | 5,050 | 6,078 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 8/1/30 | 4,825 | 5,603 |
41
New York Long-Term Tax-Exempt Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 2/1/31 | 2,500 | 2,938 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 2/1/32 | 7,300 | 8,057 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 11/1/32 | 5,370 | 6,416 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 11/1/32 | 12,000 | 14,687 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 8/1/33 | 10,275 | 12,177 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 11/1/33 | 9,500 | 11,324 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 2/1/34 | 2,195 | 2,416 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 5/1/34 | 5,035 | 5,587 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 8/1/34 | 10,000 | 11,533 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 11/1/34 | 3,880 | 4,414 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 2/1/35 | 5,500 | 6,618 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 8/1/35 | 3,600 | 4,025 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 2/1/36 | 4,000 | 4,425 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 5/1/36 | 2,500 | 2,962 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 5/1/36 | 2,000 | 2,382 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 8/1/36 | 5,000 | 5,652 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 8/1/36 | 11,600 | 13,347 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 5/1/37 | 1,250 | 1,474 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 8/1/37 | 5,020 | 5,655 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 8/1/37 | 5,000 | 5,866 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 5/1/38 | 2,235 | 2,623 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 8/1/38 | 10,000 | 11,928 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 5/1/39 | 2,000 | 2,339 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 5/1/39 | 4,965 | 5,929 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 5/1/40 | 4,000 | 4,730 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 11/1/40 | 7,000 | 8,004 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 5.000% | 8/1/42 | 2,500 | 2,851 |
42
New York Long-Term Tax-Exempt Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 5/1/43 | 1,000 | 1,122 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 5/1/44 | 4,000 | 4,477 | |
| New York City NY Transitional Finance Authority Future Tax Revenue | 4.000% | 5/1/45 | 5,000 | 5,751 | |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.060% | 6/1/20 | 4,800 | 4,800 | |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.070% | 6/1/20 | 8,960 | 8,960 | |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.070% | 6/1/20 | 4,310 | 4,310 | |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.070% | 6/1/20 | 6,135 | 6,135 | |
| New York City NY Transitional Finance Authority Future Tax Revenue VRDO | 0.070% | 6/1/20 | 4,300 | 4,300 | |
| New York City NY Transitional Finance Authority Revenue | 5.000% | 8/1/35 | 2,750 | 3,419 | |
| New York City NY Transitional Finance Authority Revenue | 4.000% | 11/1/40 | 2,305 | 2,652 | |
| New York City NY Transitional Finance Authority Revenue | 3.000% | 8/1/42 | 1,960 | 1,984 | |
| New York City NY Transitional Finance Authority Revenue | 3.000% | 5/1/45 | 6,360 | 6,427 | |
| New York City NY Transitional Finance Authority Revenue | 4.000% | 11/1/45 | 1,675 | 1,904 | |
| New York City NY Transitional Finance Authority Revenue VRDO | 0.060% | 6/1/20 | 4,000 | 4,000 | |
| New York City NY Transitional Finance Authority Revenue VRDO | 0.140% | 6/5/20 | 11,000 | 11,000 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/25 | 250 | 291 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/26 | 275 | 326 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/27 | 275 | 331 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/28 | 385 | 470 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/29 | 350 | 432 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/30 | 400 | 489 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/31 | 500 | 606 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/32 | 350 | 420 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/33 | 450 | 537 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/34 | 400 | 476 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/35 | 500 | 592 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/36 | 750 | 884 |
43
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/37 | 500 | 587 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/38 | 500 | 585 | |
| New York City NY Trust for Cultural Resources Revenue (Carnegie Hall Corp.) | 5.000% | 12/1/39 | 605 | 707 | |
| New York City NY Trust for Cultural Resources Revenue (Wildlife Conservation Society) | 5.000% | 8/1/33 | 4,000 | 4,543 | |
| New York City Transitional Finance Authority Future Tax Secured Revenue VRDO | 0.070% | 6/1/20 | 5,600 | 5,600 | |
| New York Convention Center Development Corp. Revenue | 0.000% | 11/15/32 | 2,000 | 1,330 | |
| New York Convention Center Development Corp. Revenue | 0.000% | 11/15/33 | 2,000 | 1,269 | |
| New York Convention Center Development Corp. Revenue | 5.000% | 11/15/33 | 4,345 | 4,722 | |
| New York Convention Center Development Corp. Revenue | 0.000% | 11/15/34 | 3,000 | 1,824 | |
| New York Convention Center Development Corp. Revenue | 0.000% | 11/15/36 (15) | 6,000 | 3,475 | |
| New York Convention Center Development Corp. Revenue | 5.000% | 11/15/40 | 12,915 | 13,856 | |
| New York Convention Center Development Corp. Revenue | 0.000% | 11/15/41 (15) | 8,320 | 3,865 | |
| New York Convention Center Development Corp. Revenue | 0.000% | 11/15/44 (4) | 11,075 | 4,492 | |
| New York Convention Center Development Corp. Revenue | 5.000% | 11/15/45 | 4,035 | 4,304 | |
| New York Convention Center Development Corp. Revenue | 5.000% | 11/15/46 | 13,640 | 14,688 | |
| New York Counties Tobacco Trust Revenue | 5.625% | 6/1/35 | 9,885 | 10,333 | |
| New York Liberty Development Corp. Revenue | 5.000% | 11/15/31 | 2,845 | 2,979 | |
| New York Liberty Development Corp. Revenue | 5.000% | 12/15/41 | 11,750 | 12,385 | |
| New York Liberty Development Corp. Revenue | 5.000% | 9/15/43 | 14,360 | 15,298 | |
| New York Liberty Development Corp. Revenue | 5.250% | 12/15/43 | 6,750 | 7,134 | |
| New York Liberty Development Corp. Revenue | 5.000% | 11/15/44 | 20,000 | 20,815 | |
| New York Liberty Development Corp. Revenue | 5.125% | 11/15/44 | 4,200 | 4,385 | |
| New York Liberty Development Corp. Revenue | 5.750% | 11/15/51 | 20,000 | 21,061 | |
| New York Liberty Development Corp. Revenue (7 World Trade Center Project) | 5.000% | 9/15/32 | 1,650 | 1,769 | |
| New York Liberty Development Corp. Revenue (7 World Trade Center Project) | 5.000% | 9/15/40 | 4,680 | 4,977 | |
| New York Liberty Development Corp. Revenue (7 World Trade Center Project) | 5.000% | 3/15/44 | 5,965 | 6,285 | |
44
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York Liberty Development Corp. Revenue (Goldman Sachs Headquarters) | 5.250% | 10/1/35 | 62,315 | 81,729 | |
| New York Liberty Development Corp. Revenue (Goldman Sachs Headquarters) | 5.500% | 10/1/37 | 10,291 | 14,004 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/22 (Prere.) | 1,925 | 2,150 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/22 (Prere.) | 1,160 | 1,296 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/22 (Prere.) | 3,325 | 3,714 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/22 (Prere.) | 3,070 | 3,429 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 5/15/23 (Prere.) | 2,050 | 2,338 | |
| New York Metropolitan Transportation Authority Revenue | 0.000% | 11/15/27 | 2,240 | 1,763 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/28 | 6,520 | 6,912 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/28 | 4,250 | 4,505 | |
| New York Metropolitan Transportation Authority Revenue | 0.000% | 11/15/29 | 6,510 | 4,698 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/29 | 3,000 | 3,180 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/29 | 5,000 | 5,301 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/30 | 3,000 | 3,208 | |
| New York Metropolitan Transportation Authority Revenue | 4.000% | 11/15/31 | 7,500 | 7,510 | |
| New York Metropolitan Transportation Authority Revenue | 0.000% | 11/15/32 | 500 | 310 | |
| New York Metropolitan Transportation Authority Revenue | 4.000% | 11/15/32 | 7,500 | 7,505 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/32 | 4,950 | 5,195 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/35 | 3,000 | 3,137 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/35 | 3,250 | 3,398 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/35 | 4,505 | 4,676 | |
| New York Metropolitan Transportation Authority Revenue | 5.250% | 11/15/37 | 5,000 | 5,212 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/38 | 6,020 | 6,149 | |
| New York Metropolitan Transportation Authority Revenue | 5.250% | 11/15/39 | 3,655 | 3,790 | |
| New York Metropolitan Transportation Authority Revenue | 4.000% | 11/15/46 | 5,000 | 4,958 | |
| New York Metropolitan Transportation Authority Revenue | 5.250% | 11/15/55 | 2,045 | 2,157 | |
| New York Metropolitan Transportation Authority Revenue | 5.000% | 11/15/56 | 2,000 | 2,103 | |
45
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York Metropolitan Transportation Authority Revenue | 5.250% | 11/15/56 | 5,000 | 5,321 | |
| New York Metropolitan Transportation Authority Revenue | 5.250% | 11/15/57 | 4,000 | 4,291 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/29 | 6,975 | 7,434 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.250% | 11/15/30 | 2,885 | 3,389 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/31 | 11,000 | 11,674 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.250% | 11/15/31 | 2,665 | 3,114 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 0.000% | 11/15/32 | 500 | 318 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.250% | 11/15/32 | 2,500 | 2,906 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 4.000% | 11/15/33 | 10,100 | 11,000 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/34 | 1,770 | 2,019 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/35 | 12,020 | 13,672 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/36 | 8,875 | 10,070 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/42 | 40 | 45 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/46 | 5,000 | 5,601 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/47 | 8,000 | 9,028 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.000% | 11/15/47 | 5,075 | 5,769 | |
| New York Metropolitan Transportation Authority Revenue (Dedicated Tax Fund) | 5.250% | 11/15/57 | 5,865 | 6,726 | |
| New York Metropolitan Transportation Authority Revenue (Hudson Yards Development) | 5.000% | 11/15/51 | 21,375 | 22,315 | |
| New York Metropolitan Transportation Authority Revenue (Hudson Yards Development) | 5.000% | 11/15/56 | 22,000 | 24,054 | |
| New York Metropolitan Transportation Authority Revenue VRDO | 0.080% | 6/1/20 LOC | 560 | 560 | |
| New York NY GO | 5.000% | 8/1/26 | 3,875 | 4,786 | |
| New York NY GO | 5.000% | 1/1/27 | 3,500 | 4,353 | |
| New York NY GO | 5.000% | 8/1/27 | 5,685 | 7,169 | |
| New York NY GO | 5.000% | 8/1/27 | 3,190 | 4,023 | |
| New York NY GO | 5.000% | 9/1/27 | 3,805 | 4,808 | |
| New York NY GO | 5.000% | 10/1/32 | 2,485 | 3,187 | |
| New York NY GO | 5.000% | 12/1/32 | 1,240 | 1,560 | |
| New York NY GO | 3.250% | 3/1/33 | 3,000 | 3,224 | |
| New York NY GO | 4.000% | 10/1/35 | 1,000 | 1,163 | |
| New York NY GO | 5.000% | 10/1/36 | 2,590 | 3,253 | |
| New York NY GO | 4.000% | 10/1/37 | 1,500 | 1,727 | |
| New York NY GO | 4.000% | 8/1/38 | 5,000 | 5,724 | |
46
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York NY GO | 5.000% | 10/1/38 | 2,910 | 3,644 | |
| New York NY GO | 5.000% | 3/1/39 | 5,315 | 6,414 | |
| New York NY GO | 4.000% | 10/1/39 | 4,000 | 4,571 | |
| New York NY GO | 5.000% | 10/1/39 | 2,220 | 2,760 | |
| New York NY GO | 4.000% | 10/1/40 | 3,000 | 3,419 | |
| New York NY GO | 4.000% | 8/1/42 | 7,000 | 7,925 | |
| New York NY GO | 5.000% | 10/1/42 | 3,000 | 3,702 | |
| New York NY GO | 5.000% | 10/1/43 | 3,000 | 3,693 | |
| New York NY GO | 3.000% | 10/1/44 | 3,000 | 3,056 | |
| New York NY GO | 3.500% | 4/1/46 | 3,000 | 3,149 | |
| New York NY GO VRDO | 0.060% | 6/1/20 | 2,110 | 2,110 | |
| New York Power Authority Revenue | 4.000% | 11/15/45 | 7,000 | 8,201 | |
| New York Power Authority Revenue | 4.000% | 11/15/50 | 8,500 | 9,902 | |
| New York Power Authority Revenue | 4.000% | 11/15/55 | 13,000 | 15,087 | |
| New York Power Authority Revenue | 3.250% | 11/15/60 | 3,000 | 3,097 | |
| New York Power Authority Revenue | 4.000% | 11/15/60 | 5,500 | 6,330 | |
| New York State Dormitory Authority | 5.000% | 2/15/29 | 5,100 | 6,341 | |
| New York State Dormitory Authority | 5.000% | 2/15/31 | 9,130 | 11,211 | |
| New York State Dormitory Authority | 5.000% | 2/15/37 | 5,400 | 6,445 | |
| New York State Dormitory Authority Lease Revenue (State University Dormitory Facilities) | 5.000% | 7/1/22 (Prere.) | 13,500 | 14,839 | |
| New York State Dormitory Authority Lease Revenue (State University Dormitory Facilities) | 5.000% | 7/1/32 | 1,530 | 1,780 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/23 | 4,150 | 4,690 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/24 | 5,525 | 6,421 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/27 | 2,700 | 3,299 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/28 | 3,060 | 3,726 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/29 | 2,250 | 2,729 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/29 | 3,000 | 3,663 | |
| New York State Dormitory Authority Revenue | 5.000% | 1/15/30 | 1,535 | 1,905 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/30 (4) | 7,000 | 8,707 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/30 | 2,000 | 2,429 | |
| New York State Dormitory Authority Revenue | 5.000% | 1/15/31 | 5,000 | 6,161 | |
| New York State Dormitory Authority Revenue | 3.000% | 10/1/31 | 10,000 | 10,740 | |
| New York State Dormitory Authority Revenue | 5.000% | 10/1/31 | 2,015 | 2,433 | |
| New York State Dormitory Authority Revenue | 5.000% | 7/1/32 | 540 | 689 | |
| New York State Dormitory Authority Revenue | 3.000% | 10/1/32 | 10,300 | 10,954 | |
| 2 | New York State Dormitory Authority Revenue | 5.000% | 10/1/32 (4) | 1,000 | 1,243 |
| New York State Dormitory Authority Revenue | 5.000% | 7/1/33 | 1,210 | 1,533 | |
| 2 | New York State Dormitory Authority Revenue | 5.000% | 10/1/33 (4) | 1,290 | 1,594 |
| 2 | New York State Dormitory Authority Revenue | 5.000% | 4/1/34 | 1,290 | 1,584 |
| 2 | New York State Dormitory Authority Revenue | 5.000% | 10/1/34 (4) | 2,500 | 3,082 |
| 2 | New York State Dormitory Authority Revenue | 5.000% | 10/1/34 | 1,175 | 1,444 |
| New York State Dormitory Authority Revenue | 5.000% | 3/15/35 | 5,000 | 6,181 | |
| 2 | New York State Dormitory Authority Revenue | 4.000% | 4/1/35 | 1,055 | 1,177 |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/35 | 1,355 | 1,578 | |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/35 | 570 | 633 | |
| 2 | New York State Dormitory Authority Revenue | 4.000% | 10/1/35 | 645 | 720 |
| 2 | New York State Dormitory Authority Revenue | 5.000% | 10/1/35 (4) | 1,110 | 1,364 |
| New York State Dormitory Authority Revenue | 5.000% | 3/15/36 | 6,700 | 8,249 | |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/36 | 2,000 | 2,206 | |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/37 | 1,020 | 1,120 | |
47
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue | 5.000% | 3/15/39 | 5,000 | 6,094 | |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/43 | 1,410 | 1,523 | |
| New York State Dormitory Authority Revenue | 4.000% | 3/15/47 | 5,000 | 5,507 | |
| New York State Dormitory Authority Revenue | 4.000% | 3/15/48 | 5,000 | 5,502 | |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/49 | 4,000 | 4,286 | |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/50 | 10,000 | 10,822 | |
| New York State Dormitory Authority Revenue | 4.000% | 7/1/53 | 22,150 | 23,812 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/27 | 1,695 | 2,007 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/30 | 6,000 | 7,059 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/34 | 5,000 | 5,668 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/35 | 5,000 | 5,638 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/39 | 5,030 | 5,810 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/42 | 1,500 | 1,793 | |
| New York State Dormitory Authority Revenue (Barnard College) | 5.000% | 7/1/26 | 750 | 878 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/31 | 1,100 | 1,182 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/32 | 1,340 | 1,430 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/36 | 530 | 579 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/37 | 505 | 550 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/38 | 405 | 440 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/39 | 1,010 | 1,093 | |
| New York State Dormitory Authority Revenue (Barnard College) | 5.000% | 7/1/43 | 1,185 | 1,319 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/45 | 1,500 | 1,601 | |
| New York State Dormitory Authority Revenue (Barnard College) | 4.000% | 7/1/49 | 1,460 | 1,552 | |
| New York State Dormitory Authority Revenue (Brooklyn Law School) | 5.000% | 7/1/22 (Prere.) | 1,210 | 1,329 | |
| New York State Dormitory Authority Revenue (Brooklyn Law School) | 5.000% | 7/1/22 (Prere.) | 1,000 | 1,098 | |
| New York State Dormitory Authority Revenue (Brooklyn Law School) | 5.000% | 7/1/22 (Prere.) | 1,630 | 1,790 | |
| New York State Dormitory Authority Revenue (Brooklyn Law School) | 5.000% | 7/1/22 (Prere.) | 1,000 | 1,098 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 5.000% | 7/1/29 | 1,010 | 1,247 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 5.000% | 7/1/30 | 850 | 1,035 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 3.000% | 7/1/31 | 2,400 | 2,514 | |
48
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 5.000% | 7/1/32 | 710 | 754 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 5.000% | 7/1/32 | 900 | 1,080 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 3.000% | 7/1/33 | 2,595 | 2,636 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 5.000% | 7/1/34 | 700 | 832 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 5.000% | 7/1/35 | 700 | 828 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 4.000% | 7/1/37 | 1,705 | 1,837 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 4.000% | 7/1/38 | 2,200 | 2,363 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 4.000% | 7/1/39 | 1,305 | 1,398 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 4.000% | 7/1/40 | 650 | 695 | |
| New York State Dormitory Authority Revenue (Catholic Health System Obligated Group) | 4.000% | 7/1/45 | 3,500 | 3,697 | |
| New York State Dormitory Authority Revenue (City University System) VRDO | 0.120% | 6/5/20 LOC | 10,400 | 10,400 | |
| New York State Dormitory Authority Revenue (Columbia University) | 5.000% | 10/1/38 | 5,000 | 6,301 | |
| New York State Dormitory Authority Revenue (Columbia University) | 5.000% | 10/1/45 | 2,000 | 3,161 | |
| New York State Dormitory Authority Revenue (Columbia University) | 5.000% | 10/1/46 | 1,250 | 1,511 | |
| New York State Dormitory Authority Revenue (Columbia University) | 5.000% | 10/1/46 | 3,000 | 4,784 | |
| New York State Dormitory Authority Revenue (Columbia University) | 5.000% | 10/1/47 | 950 | 1,528 | |
| New York State Dormitory Authority Revenue (Columbia University) | 5.000% | 10/1/48 | 15,255 | 24,718 | |
| New York State Dormitory Authority Revenue (Cornell University) | 5.000% | 7/1/31 | 2,500 | 3,446 | |
| New York State Dormitory Authority Revenue (Cornell University) | 4.000% | 7/1/50 | 7,465 | 8,735 | |
| New York State Dormitory Authority Revenue (Culinary Institute of America) | 5.000% | 7/1/20 | 215 | 215 | |
| New York State Dormitory Authority Revenue (Culinary Institute of America) | 5.000% | 7/1/21 | 440 | 452 | |
| New York State Dormitory Authority Revenue (Culinary Institute of America) | 5.000% | 7/1/28 | 540 | 561 | |
| New York State Dormitory Authority Revenue (Culinary Institute of America) | 5.500% | 7/1/33 | 1,000 | 1,062 | |
| New York State Dormitory Authority Revenue (Culinary Institute of America) | 5.000% | 7/1/34 | 350 | 359 | |
| New York State Dormitory Authority Revenue (Culinary Institute of America) | 5.000% | 7/1/42 | 600 | 609 | |
| New York State Dormitory Authority Revenue (Culinary Institute of America) | 5.750% | 7/1/43 | 7,105 | 7,533 | |
| New York State Dormitory Authority Revenue (Fordham University) | 5.000% | 7/1/28 | 400 | 477 | |
49
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (Fordham University) | 5.000% | 7/1/29 | 1,300 | 1,544 | |
| New York State Dormitory Authority Revenue (Fordham University) | 5.000% | 7/1/29 | 850 | 1,034 | |
| New York State Dormitory Authority Revenue (Fordham University) | 5.000% | 7/1/30 | 515 | 622 | |
| New York State Dormitory Authority Revenue (Fordham University) | 4.000% | 7/1/33 | 500 | 543 | |
| New York State Dormitory Authority Revenue (Fordham University) | 4.000% | 7/1/34 | 1,660 | 1,797 | |
| New York State Dormitory Authority Revenue (Fordham University) | 5.000% | 7/1/34 | 755 | 874 | |
| New York State Dormitory Authority Revenue (Fordham University) | 4.000% | 7/1/35 | 1,650 | 1,780 | |
| New York State Dormitory Authority Revenue (Fordham University) | 5.000% | 7/1/35 | 500 | 577 | |
| New York State Dormitory Authority Revenue (Icahn School of Medicine at Mount Sinai) | 5.000% | 7/1/26 | 2,500 | 2,879 | |
| New York State Dormitory Authority Revenue (Icahn School of Medicine at Mount Sinai) | 5.000% | 7/1/31 | 3,000 | 3,367 | |
| New York State Dormitory Authority Revenue (Icahn School of Medicine at Mount Sinai) | 5.000% | 7/1/33 | 7,335 | 8,126 | |
| New York State Dormitory Authority Revenue (Icahn School of Medicine at Mount Sinai) | 5.000% | 7/1/40 | 7,575 | 8,271 | |
| New York State Dormitory Authority Revenue (Long Island University) | 5.000% | 9/1/26 | 2,355 | 2,484 | |
| New York State Dormitory Authority Revenue (Long Island University) | 5.000% | 9/1/27 | 1,520 | 1,600 | |
| New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) | 5.000% | 7/1/27 | 5,035 | 6,367 | |
| New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) | 5.000% | 7/1/32 | 1,875 | 2,326 | |
| New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) | 4.000% | 7/1/34 | 3,000 | 3,437 | |
| New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) | 4.000% | 7/1/35 | 1,420 | 1,621 | |
| New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) | 4.000% | 7/1/37 | 1,350 | 1,516 | |
| New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) | 5.000% | 7/1/42 | 5,000 | 5,970 | |
| New York State Dormitory Authority Revenue (Memorial Sloan-Kettering Cancer Center) | 4.000% | 7/1/47 | 11,500 | 12,733 | |
50
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 5.000% | 8/1/24 | 500 | 553 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 5.000% | 8/1/28 | 1,555 | 1,819 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 5.000% | 8/1/29 | 3,215 | 3,709 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 5.000% | 8/1/30 | 3,000 | 3,471 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 5.000% | 8/1/31 | 780 | 887 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 5.000% | 9/1/33 | 2,250 | 2,560 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 5.000% | 8/1/35 | 2,200 | 2,480 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 9/1/36 | 405 | 421 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 8/1/37 | 3,420 | 3,533 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 9/1/37 | 300 | 311 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 8/1/38 | 4,475 | 4,609 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 9/1/38 | 600 | 620 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 9/1/39 | 550 | 567 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 9/1/40 | 1,870 | 1,925 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 9/1/45 | 3,900 | 4,001 | |
| New York State Dormitory Authority Revenue (Montefiore Obligated Group) | 4.000% | 9/1/50 | 8,800 | 9,015 | |
| New York State Dormitory Authority Revenue (Mount Sinai School of Medicine of New York University) | 5.150% | 7/1/24 (14) | 2,000 | 2,248 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.750% | 7/1/20 (Prere.) | 1,000 | 1,004 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 6.000% | 7/1/20 (Prere.) | 1,000 | 1,005 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.000% | 7/1/22 | 910 | 979 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.000% | 7/1/26 | 670 | 755 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.000% | 7/1/27 | 780 | 917 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.000% | 7/1/28 | 700 | 819 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.000% | 7/1/29 | 1,500 | 1,745 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.000% | 7/1/32 | 745 | 849 | |
| New York State Dormitory Authority Revenue (New York University Hospitals Center) | 5.000% | 7/1/33 | 400 | 453 | |
51
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/22 (Prere.) | 3,625 | 3,985 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/22 (Prere.) | 10,000 | 10,992 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/22 (Prere.) | 4,200 | 4,617 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/22 (Prere.) | 3,250 | 3,572 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/28 | 4,510 | 5,567 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/30 | 2,000 | 2,427 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/30 | 5,065 | 6,212 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/32 | 1,000 | 1,165 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/33 | 2,365 | 2,743 | |
| New York State Dormitory Authority Revenue (New York University) | 4.000% | 7/1/35 | 6,210 | 7,114 | |
| New York State Dormitory Authority Revenue (New York University) | 4.000% | 7/1/36 | 6,025 | 6,864 | |
| New York State Dormitory Authority Revenue (New York University) | 4.000% | 7/1/38 | 7,290 | 7,991 | |
| New York State Dormitory Authority Revenue (New York University) | 4.000% | 7/1/39 | 9,500 | 10,556 | |
| New York State Dormitory Authority Revenue (New York University) | 5.500% | 7/1/40 (2) | 500 | 734 | |
| New York State Dormitory Authority Revenue (New York University) | 4.000% | 7/1/43 | 9,320 | 10,286 | |
| New York State Dormitory Authority Revenue (New York University) | 4.000% | 7/1/45 | 5,000 | 5,747 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/48 | 8,000 | 9,515 | |
| New York State Dormitory Authority Revenue (New York University) | 5.000% | 7/1/49 | 7,500 | 9,296 | |
| 1 | New York State Dormitory Authority Revenue (New York University) TOB PUT | 0.100% | 6/1/20 | 600 | 600 |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/27 | 1,595 | 1,835 | |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/28 | 2,000 | 2,294 | |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/29 | 7,910 | 9,046 | |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/30 | 2,165 | 2,466 | |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/32 | 2,500 | 2,818 | |
52
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/33 | 3,500 | 3,938 | |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/36 | 3,000 | 3,350 | |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/39 | 4,000 | 4,194 | |
| New York State Dormitory Authority Revenue (North Shore - Long Island Jewish Obligated Group) | 5.000% | 5/1/43 | 2,050 | 2,264 | |
| New York State Dormitory Authority Revenue (Northwell Health Obligated Group) PUT | 5.000% | 5/1/24 | 2,000 | 2,254 | |
| New York State Dormitory Authority Revenue (Northwell Health Obligated Group) PUT | 5.000% | 5/1/26 | 2,000 | 2,364 | |
| New York State Dormitory Authority Revenue (NY Personal Income Tax) | 4.000% | 3/15/28 | 3,290 | 3,763 | |
| New York State Dormitory Authority Revenue (Orange Regional Medical Center Obligated Group) | 5.000% | 12/1/27 | 1,400 | 1,655 | |
| New York State Dormitory Authority Revenue (Orange Regional Medical Center Obligated Group) | 5.000% | 12/1/28 | 1,300 | 1,526 | |
| New York State Dormitory Authority Revenue (Orange Regional Medical Center Obligated Group) | 5.000% | 12/1/30 | 1,100 | 1,278 | |
| New York State Dormitory Authority Revenue (Orange Regional Medical Center Obligated Group) | 5.000% | 12/1/31 | 1,200 | 1,387 | |
| New York State Dormitory Authority Revenue (Orange Regional Medical Center Obligated Group) | 5.000% | 12/1/33 | 1,000 | 1,144 | |
| New York State Dormitory Authority Revenue (Orange Regional Medical Center Obligated Group) | 5.000% | 12/1/35 | 1,000 | 1,136 | |
| New York State Dormitory Authority Revenue (Orange Regional Medical Center Obligated Group) | 5.000% | 12/1/37 | 1,000 | 1,123 | |
| New York State Dormitory Authority Revenue (Pace University) | 4.250% | 5/1/23 | 2,500 | 2,542 | |
| New York State Dormitory Authority Revenue (Pace University) | 5.000% | 5/1/23 (Prere.) | 30 | 34 | |
| New York State Dormitory Authority Revenue (Pace University) | 5.000% | 5/1/23 (Prere.) | 30 | 34 | |
| New York State Dormitory Authority Revenue (Pace University) | 5.000% | 5/1/23 (Prere.) | 20 | 23 | |
| New York State Dormitory Authority Revenue (Pace University) | 5.000% | 5/1/25 | 1,270 | 1,375 | |
| New York State Dormitory Authority Revenue (Pace University) | 5.000% | 5/1/27 | 1,025 | 1,099 | |
| New York State Dormitory Authority Revenue (Pace University) | 5.000% | 5/1/28 | 1,470 | 1,572 | |
53
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (Pace University) | 5.000% | 5/1/29 | 1,610 | 1,718 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/24 (Prere.) | 15 | 18 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 9/15/28 (Prere.) | 10 | 14 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/29 | 4,985 | 5,697 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/31 | 1,000 | 1,195 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/32 | 3,240 | 3,791 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/32 | 5,000 | 5,592 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/33 | 5,000 | 6,055 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.250% | 3/15/33 | 1,750 | 2,097 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/34 | 3,500 | 4,222 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/34 | 5,000 | 6,110 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/35 | 3,510 | 4,227 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/35 | 7,500 | 9,684 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/35 | 4,305 | 5,080 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/35 | 5,030 | 6,065 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/36 | 3,000 | 3,515 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/36 | 3,000 | 3,605 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/36 | 1,000 | 1,180 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/37 | 3,000 | 3,495 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/37 | 7,860 | 9,487 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/37 | 5,000 | 5,659 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/38 | 4,670 | 5,421 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/38 | 7,450 | 8,859 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/38 | 3,705 | 4,187 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.250% | 3/15/38 | 5,000 | 6,245 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/39 | 3,000 | 3,468 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/40 | 3,000 | 3,460 | |
54
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 3/15/41 | 5,000 | 5,625 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 5.000% | 2/15/42 | 500 | 596 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/47 | 4,230 | 4,807 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 3/15/48 | 10,890 | 12,167 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 3.000% | 2/15/49 | 3,000 | 3,075 | |
| New York State Dormitory Authority Revenue (Personal Income Tax) | 4.000% | 2/15/49 | 10,000 | 11,336 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/23 | 510 | 569 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/25 | 500 | 571 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/27 | 420 | 503 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/28 | 1,000 | 1,133 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/29 | 500 | 565 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/29 | 1,010 | 1,199 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/30 | 500 | 591 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/31 | 650 | 765 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/34 | 2,000 | 2,216 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/39 | 1,805 | 1,982 | |
| New York State Dormitory Authority Revenue (Pratt Institute) | 5.000% | 7/1/39 | 1,205 | 1,376 | |
| New York State Dormitory Authority Revenue (Rochester Institute of Technology) | 5.000% | 7/1/22 (Prere.) | 2,290 | 2,517 | |
| New York State Dormitory Authority Revenue (Rochester Institute of Technology) | 5.000% | 7/1/22 (Prere.) | 3,000 | 3,298 | |
| New York State Dormitory Authority Revenue (Rochester Institute of Technology) | 5.000% | 7/1/34 | 750 | 940 | |
| New York State Dormitory Authority Revenue (Rochester Institute of Technology) | 5.000% | 7/1/37 | 1,550 | 1,917 | |
| New York State Dormitory Authority Revenue (Rochester Institute of Technology) | 5.000% | 7/1/38 | 1,905 | 2,349 | |
| New York State Dormitory Authority Revenue (Rochester Institute of Technology) | 4.000% | 7/1/44 | 10,355 | 11,631 | |
| New York State Dormitory Authority Revenue (Rochester Institute of Technology) | 5.000% | 7/1/49 | 5,000 | 6,041 | |
| New York State Dormitory Authority Revenue (Rockefeller University) | 5.000% | 7/1/33 | 2,670 | 2,930 | |
| New York State Dormitory Authority Revenue (Rockefeller University) | 5.000% | 7/1/34 | 2,720 | 2,983 | |
| New York State Dormitory Authority Revenue (Rockefeller University) | 5.000% | 7/1/35 | 8,000 | 10,463 | |
55
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (Rockefeller University) | 4.000% | 7/1/49 | 2,500 | 2,897 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/26 | 1,000 | 1,109 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/26 | 1,425 | 1,746 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/27 (4) | 1,000 | 1,193 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/28 (4) | 1,000 | 1,183 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/29 (4) | 1,500 | 1,772 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/31 (4) | 750 | 883 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/32 (4) | 1,000 | 1,177 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/33 (4) | 1,000 | 1,176 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/33 | 600 | 714 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/34 (4) | 1,000 | 1,174 | |
| New York State Dormitory Authority Revenue (School Districts Financing Program) | 5.000% | 10/1/34 | 520 | 650 | |
| New York State Dormitory Authority Revenue (St. John’s University) | 5.000% | 7/1/26 | 740 | 852 | |
| New York State Dormitory Authority Revenue (St. John’s University) | 5.000% | 7/1/27 | 650 | 746 | |
| New York State Dormitory Authority Revenue (St. John’s University) | 5.000% | 7/1/44 | 2,500 | 2,634 | |
| New York State Dormitory Authority Revenue (State University Dormitory Facilities) | 5.000% | 7/1/22 (Prere.) | 2,250 | 2,473 | |
| New York State Dormitory Authority Revenue (State University Dormitory Facilities) | 5.000% | 7/1/23 (Prere.) | 1,300 | 1,491 | |
| New York State Dormitory Authority Revenue (State University Dormitory Facilities) | 5.250% | 7/1/23 (Prere.) | 2,500 | 2,886 | |
| New York State Dormitory Authority Revenue (State University Dormitory Facilities) | 5.000% | 7/1/31 | 1,000 | 1,209 | |
56
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Revenue (State University Dormitory Facilities) | 5.000% | 7/1/32 | 1,825 | 2,191 | |
| New York State Dormitory Authority Revenue (State University Dormitory Facilities) | 5.000% | 7/1/35 | 2,000 | 2,371 | |
| New York State Dormitory Authority Revenue (State University Dormitory Facilities) | 5.000% | 7/1/36 | 1,500 | 1,771 | |
| New York State Dormitory Authority Revenue (Teachers College) | 5.000% | 7/1/30 | 505 | 622 | |
| New York State Dormitory Authority Revenue (Teachers College) | 4.000% | 7/1/31 | 1,015 | 1,162 | |
| New York State Dormitory Authority Revenue (Teachers College) | 5.000% | 7/1/31 | 1,750 | 1,897 | |
| New York State Dormitory Authority Revenue (Teachers College) | 5.000% | 7/1/32 | 575 | 696 | |
| New York State Dormitory Authority Revenue (Teachers College) | 4.000% | 7/1/33 | 1,200 | 1,339 | |
| New York State Dormitory Authority Revenue (Teachers College) | 5.000% | 7/1/42 | 2,000 | 2,145 | |
| New York State Dormitory Authority Revenue (The New School) | 5.250% | 7/1/20 (Prere.) | 3,000 | 3,012 | |
| New York State Dormitory Authority Revenue (The New School) | 5.500% | 7/1/20 (Prere.) | 5,000 | 5,021 | |
| New York State Dormitory Authority Revenue (The New School) | 6.000% | 7/1/20 (Prere.) | 5,575 | 5,601 | |
| New York State Dormitory Authority Revenue (The New School) | 5.000% | 7/1/40 | 3,000 | 3,232 | |
| New York State Dormitory Authority Revenue (The New School) | 5.000% | 7/1/41 | 6,685 | 7,321 | |
| New York State Dormitory Authority Revenue (The New School) | 5.000% | 7/1/45 | 3,000 | 3,209 | |
| New York State Dormitory Authority Revenue (The New School) | 5.000% | 7/1/46 | 5,110 | 5,557 | |
| New York State Dormitory Authority Revenue (Yeshiva University) | 5.000% | 11/1/21 (ETM) | 285 | 305 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/31 | 8,975 | 10,286 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/32 | 2,650 | 3,032 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/32 | 8,225 | 9,836 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/33 | 5,000 | 5,711 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/33 | 4,840 | 5,760 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/34 | 5,000 | 5,701 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/35 | 5,240 | 5,964 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/35 | 5,000 | 6,042 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/35 | 5,000 | 6,009 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/36 | 7,995 | 9,083 | |
57
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/36 | 5,000 | 5,985 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/36 | 1,000 | 1,203 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/36 | 10,020 | 12,336 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/37 | 5,000 | 5,671 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/37 | 3,600 | 4,314 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/38 | 5,000 | 6,110 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/41 | 10,000 | 11,878 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/42 | 5,000 | 5,889 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/42 | 12,280 | 14,559 | |
| New York State Dormitory Authority Sales Tax Revenue | 5.000% | 3/15/43 | 4,085 | 4,835 | |
| New York State Dormitory Authority Sales Tax Revenue | 4.000% | 3/15/47 | 7,570 | 8,248 | |
| New York State Environmental Facilities Corp. Revenue | 5.000% | 8/15/34 | 1,000 | 1,244 | |
| New York State Environmental Facilities Corp. Revenue | 5.000% | 8/15/36 | 1,000 | 1,233 | |
| New York State Environmental Facilities Corp. Revenue | 5.000% | 8/15/41 | 1,000 | 1,218 | |
| New York State Environmental Facilities Corp. Revenue | 5.000% | 8/15/42 | 1,000 | 1,215 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/23 | 1,000 | 1,141 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/24 | 870 | 1,030 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/25 | 1,610 | 1,968 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/30 | 3,045 | 3,768 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/32 | 5,000 | 5,978 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/32 | 2,515 | 3,151 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/33 | 4,000 | 4,976 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/34 | 4,145 | 4,808 | |
58
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/35 | 3,000 | 3,646 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/35 | 2,500 | 3,084 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 4.000% | 6/15/36 | 2,500 | 2,835 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 4.000% | 6/15/37 | 5,610 | 6,456 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/41 | 3,000 | 3,611 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/42 | 11,310 | 13,698 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 5.000% | 6/15/44 | 2,220 | 2,798 | |
| New York State Environmental Facilities Corp. Revenue (State Clean Water & Drinking Water Revolving Funds) | 4.000% | 6/15/49 | 6,500 | 7,541 | |
| New York State Environmental Facilities Corp. Revenue (State Revolving Funds) | 5.000% | 9/15/40 | 2,370 | 2,773 | |
| New York State Environmental Facilities Corp. Revenue (State Revolving Funds) | 5.000% | 3/15/45 | 5,000 | 5,822 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.625% | 11/1/33 | 1,340 | 1,486 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.550% | 11/1/39 | 1,000 | 1,075 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.550% | 11/1/39 | 1,000 | 1,077 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.250% | 11/1/41 | 3,145 | 3,281 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.850% | 11/1/43 | 1,140 | 1,237 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.850% | 11/1/43 | 2,380 | 2,567 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.875% | 11/1/48 | 1,830 | 1,964 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.900% | 11/1/48 | 1,665 | 1,789 | |
| New York State Housing Finance Agency Affordable Housing Revenue | 3.950% | 11/1/48 | 1,500 | 1,617 | |
| New York State Housing Finance Agency Revenue | 1.750% | 5/1/24 | 5,700 | 5,783 | |
| New York State Housing Finance Agency Revenue | 3.250% | 11/1/31 | 1,105 | 1,225 | |
| New York State Housing Finance Agency Revenue | 3.650% | 11/1/32 | 1,000 | 1,094 | |
| New York State Housing Finance Agency Revenue | 3.800% | 11/1/43 | 2,325 | 2,500 | |
59
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Housing Finance Agency Revenue | 3.000% | 11/1/44 | 1,500 | 1,555 | |
| New York State Housing Finance Agency Revenue | 3.875% | 11/1/48 | 2,635 | 2,827 | |
| New York State Housing Finance Agency Revenue | 3.050% | 11/1/49 | 3,000 | 3,106 | |
| New York State Liberty Development Corp. Liberty Revenue (3 World Trade Center Project) | 5.000% | 11/15/44 | 8,000 | 7,889 | |
| New York State Liberty Development Corp. Liberty Revenue (Bank of America Tower at One Bryant Park Project) | 2.450% | 9/15/29 | 19,500 | 19,061 | |
| New York State Liberty Development Corp. Liberty Revenue (Bank of America Tower at One Bryant Park Project) | 2.800% | 9/15/29 | 12,500 | 12,214 | |
| New York State Liberty Development Corp. Liberty Revenue (Bank of America Tower at One Bryant Park Project) | 2.625% | 9/15/69 | 10,000 | 9,789 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue | 4.100% | 10/1/38 | 4,300 | 4,854 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue | 3.750% | 10/1/43 | 3,400 | 3,665 | |
| New York State Mortgage Agency Homeowner Mortgage Revenue | 3.800% | 10/1/48 | 10,170 | 10,904 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/28 | 5,265 | 6,105 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/29 | 4,085 | 4,727 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/29 | 1,220 | 1,444 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/30 | 2,665 | 3,074 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/30 | 1,700 | 2,003 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/31 | 5,500 | 6,322 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/31 | 2,900 | 3,409 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/32 | 5,155 | 5,903 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/32 | 2,970 | 3,467 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/33 | 2,340 | 2,715 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/33 | 1,800 | 2,197 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/34 | 2,185 | 2,657 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/35 | 3,100 | 3,754 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/36 | 1,275 | 1,427 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/37 | 2,500 | 2,767 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/38 | 2,500 | 2,755 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/39 | 2,500 | 2,744 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/40 | 2,500 | 2,757 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/41 | 2,500 | 2,730 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/41 | 2,500 | 2,837 | |
| New York State Thruway Authority Revenue | 5.000% | 3/15/42 | 4,105 | 4,904 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/45 | 15,425 | 16,691 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/45 | 3,000 | 3,267 | |
| New York State Thruway Authority Revenue | 3.000% | 1/1/46 | 6,000 | 6,083 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/46 | 5,000 | 5,635 | |
| New York State Thruway Authority Revenue | 3.000% | 1/1/50 | 5,000 | 5,042 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/50 | 20,000 | 21,398 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/50 | 2,000 | 2,166 | |
| New York State Thruway Authority Revenue | 5.000% | 1/1/51 | 5,700 | 6,403 | |
| New York State Thruway Authority Revenue | 3.000% | 1/1/53 | 3,500 | 3,523 | |
60
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| New York State Thruway Authority Revenue | 3.000% | 1/1/53 | 3,500 | 3,523 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/53 | 8,000 | 8,530 | |
| New York State Thruway Authority Revenue | 4.000% | 1/1/53 | 2,000 | 2,160 | |
| New York State Thruway Authority Revenue | 5.250% | 1/1/56 | 7,400 | 8,390 | |
| New York State Thruway Authority Revenue (Personal Income Tax) | 5.000% | 3/15/31 | 1,500 | 1,679 | |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 5.000% | 3/15/29 | 7,340 | 8,138 | |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 5.000% | 3/15/31 | 3,410 | 4,096 | |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 5.000% | 3/15/32 | 5,000 | 5,701 | |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 5.000% | 3/15/33 | 3,000 | 3,311 | |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 5.000% | 3/15/35 | 2,000 | 2,353 | |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 5.000% | 3/15/43 | 10,000 | 11,035 | |
| New York State Urban Development Corp. Revenue (Personal Income Tax) | 4.000% | 3/15/48 | 5,000 | 5,590 | |
| New York State Urban Development Corp. Revenue (Service Contract) VRDO | 0.140% | 6/5/20 | 5,000 | 5,000 | |
| New York State Urban Development Corp. Revenue VRDO | 0.140% | 6/5/20 | 11,230 | 11,230 | |
| New York State Urban Development Corp. Sales Tax Revenue | 5.000% | 3/15/39 | 175 | 219 | |
| New York State Urban Development Corp. Sales Tax Revenue | 5.000% | 3/15/40 | 925 | 1,154 | |
| New York State Urban Development Corp. Sales Tax Revenue | 3.000% | 3/15/49 | 6,000 | 6,189 | |
| Niagara Falls NY Public Water Authority Revenue | 4.250% | 7/15/34 (15) | 3,000 | 3,229 | |
| Niagara NY Area Development Corp. Revenue (Niagara University Project) | 5.000% | 5/1/22 (Prere.) | 320 | 346 | |
| Niagara NY Area Development Corp. Revenue (Niagara University Project) | 5.000% | 5/1/22 (Prere.) | 2,750 | 2,971 | |
| Oneida County NY Local Development Corp. Revenue (Mohawk Valley Health System Project) | 4.000% | 12/1/34 (4) | 1,000 | 1,134 | |
| Oneida County NY Local Development Corp. Revenue (Mohawk Valley Health System Project) | 4.000% | 12/1/35 (4) | 1,000 | 1,127 | |
| Oneida County NY Local Development Corp. Revenue (Mohawk Valley Health System Project) | 4.000% | 12/1/36 (4) | 1,000 | 1,123 | |
| Oneida County NY Local Development Corp. Revenue (Mohawk Valley Health System Project) | 4.000% | 12/1/49 (4) | 3,785 | 4,116 | |
| Oneida County NY Local Development Corp. Revenue (Utica College Project) | 4.000% | 7/1/39 | 500 | 476 | |
| Onondaga County NY Civic Development Corp. Revenue (Jewish Home of Central New York Obligated Group) | 5.500% | 3/1/24 | 2,465 | 2,376 | |
61
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Onondaga County NY Civic Development Corp. Revenue (Jewish Home of Central New York Obligated Group) | 5.250% | 3/1/31 | 2,000 | 1,743 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/28 | 450 | 502 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/29 | 475 | 528 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/30 | 450 | 498 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/32 | 1,000 | 1,045 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/33 | 575 | 627 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/35 | 635 | 690 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/40 | 1,940 | 2,082 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/42 | 1,780 | 1,841 | |
| Onondaga County NY Civic Development Corp. Revenue (Le Moyne College) | 5.000% | 7/1/45 | 3,950 | 4,205 | |
| Onondaga County NY Trust For Cultural Resources Revenue (Abby Lane Housing Corp. Project) | 5.000% | 5/1/35 | 1,140 | 1,296 | |
| Onondaga County NY Trust For Cultural Resources Revenue (Abby Lane Housing Corp. Project) | 5.000% | 5/1/36 | 1,475 | 1,671 | |
| Onondaga County NY Trust For Cultural Resources Revenue (Abby Lane Housing Corp. Project) | 5.000% | 5/1/40 | 1,200 | 1,346 | |
| Onondaga County NY Trust For Cultural Resources Revenue (Abby Lane Housing Corp. Project) | 5.000% | 12/1/45 | 11,665 | 14,526 | |
| Onondaga County NY Trust For Cultural Resources Revenue (Syracuse University Project) | 5.000% | 12/1/31 | 1,000 | 1,133 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/32 | 510 | 582 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/33 | 540 | 611 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 7/1/33 | 300 | 348 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/34 | 565 | 638 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 7/1/34 | 300 | 347 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/35 | 595 | 669 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 7/1/35 | 410 | 471 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/36 | 625 | 698 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 4.000% | 7/1/36 | 435 | 450 | |
62
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/37 | 355 | 395 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 4.000% | 7/1/37 | 300 | 309 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/38 | 285 | 316 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 4.000% | 7/1/38 | 275 | 282 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 4.000% | 7/1/39 | 350 | 359 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 4.000% | 7/1/40 | 300 | 307 | |
| Onondaga NY Civic Development Corp. Revenue (Le Moyne College Project) | 5.000% | 1/1/43 | 1,000 | 1,098 | |
| Otsego County NY Capital Resource Corp. Revenue (Hartwick College) | 5.000% | 10/1/20 | 655 | 655 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 10/15/29 | 3,545 | 4,169 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 7/15/31 | 315 | 392 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 10/15/33 | 1,750 | 2,044 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 9/1/34 | 1,290 | 1,469 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 11/15/35 | 4,265 | 5,100 | |
| Port Authority of New York & New Jersey Revenue | 4.000% | 9/1/38 | 1,750 | 1,945 | |
| Port Authority of New York & New Jersey Revenue | 4.000% | 9/1/38 | 3,380 | 3,797 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 10/15/41 | 13,000 | 15,070 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 11/15/42 | 3,000 | 3,515 | |
| Port Authority of New York & New Jersey Revenue | 4.000% | 9/1/43 | 5,000 | 5,490 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 5/1/45 | 8,765 | 10,054 | |
| Port Authority of New York & New Jersey Revenue | 4.000% | 9/1/45 | 2,785 | 3,075 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 11/15/46 | 3,000 | 3,537 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 11/15/47 | 8,000 | 9,315 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 9/1/48 | 5,000 | 5,895 | |
| Port Authority of New York & New Jersey Revenue | 4.000% | 11/1/49 | 9,000 | 9,915 | |
| Port Authority of New York & New Jersey Revenue | 5.250% | 10/15/55 | 7,750 | 9,065 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 4/15/57 | 2,000 | 2,293 | |
| Port Authority of New York & New Jersey Revenue | 5.000% | 5/15/57 | 2,000 | 2,315 | |
63
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Port Authority of New York & New Jersey Revenue | 5.250% | 11/15/57 | 11,450 | 13,447 | |
| Rockland County NY GO | 3.000% | 6/15/31 (4) | 2,955 | 3,164 | |
| Rockland County NY GO | 3.000% | 6/15/32 (4) | 2,815 | 2,984 | |
| Rockland County NY GO | 3.000% | 6/15/33 (4) | 2,970 | 3,154 | |
| Rockland County NY GO | 3.000% | 6/15/35 (4) | 3,105 | 3,273 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/32 | 220 | 272 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/33 | 175 | 215 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/34 | 225 | 276 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/35 | 225 | 275 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/36 | 500 | 608 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/38 | 300 | 363 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/43 | 3,550 | 4,247 | |
| Saratoga County NY Capital Resource Corp. Revenue (Skidmore College) | 5.000% | 7/1/48 | 4,520 | 5,373 | |
| Schenectady NY Public Improvement GO | 3.000% | 5/1/31 (4) | 635 | 680 | |
| Schenectady NY Public Improvement GO | 3.000% | 5/1/32 (4) | 1,205 | 1,291 | |
| St. Lawrence County NY Industrial Development Civic Facility Revenue (St. Lawrence University) | 5.000% | 7/1/28 | 310 | 370 | |
| St. Lawrence County NY Industrial Development Civic Facility Revenue (St. Lawrence University) | 5.000% | 7/1/29 | 660 | 785 | |
| St. Lawrence County NY Industrial Development Civic Facility Revenue (St. Lawrence University) | 5.000% | 7/1/31 | 450 | 530 | |
| St. Lawrence County NY Industrial Development Civic Facility Revenue (St. Lawrence University) | 5.000% | 7/1/34 | 830 | 960 | |
| St. Lawrence County NY Industrial Development Civic Facility Revenue (St. Lawrence University) | 5.000% | 7/1/35 | 1,510 | 1,741 | |
| St. Lawrence County NY Industrial Development Civic Facility Revenue (St. Lawrence University) | 5.000% | 7/1/36 | 545 | 627 | |
| St. Lawrence County NY Industrial Development Civic Facility Revenue (St. Lawrence University) | 5.000% | 7/1/43 | 8,870 | 9,395 | |
| Suffolk County NY Economic Development Corp. Revenue (Catholic Health Services) | 5.000% | 7/1/21 (Prere.) | 1,570 | 1,650 | |
| Suffolk County NY Economic Development Corp. Revenue (Catholic Health Services) | 5.000% | 7/1/28 | 1,500 | 1,665 | |
| Suffolk County NY Economic Development Corp. Revenue (Catholic Health Services) | 5.000% | 7/1/28 | 14,180 | 14,685 | |
| Suffolk County NY Economic Development Corp. Revenue (Catholic Health Services) | 5.000% | 7/1/29 | 3,000 | 3,321 | |
64
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 2 | Suffolk County NY Economic Development Corp. Revenue (Peconic Landing at Southold Inc. Project) | 4.000% | 12/1/21 | 310 | 308 |
| 2 | Suffolk County NY Economic Development Corp. Revenue (Peconic Landing at Southold Inc. Project) | 4.000% | 12/1/23 | 230 | 224 |
| 2 | Suffolk County NY Economic Development Corp. Revenue (Peconic Landing at Southold Inc. Project) | 4.000% | 12/1/24 | 250 | 241 |
| 2 | Suffolk County NY Economic Development Corp. Revenue (Peconic Landing at Southold Inc. Project) | 4.000% | 12/1/25 | 250 | 239 |
| 2 | Suffolk County NY Economic Development Corp. Revenue (Peconic Landing at Southold Inc. Project) | 5.000% | 12/1/29 | 720 | 711 |
| 2 | Suffolk County NY Economic Development Corp. Revenue (Peconic Landing at Southold Inc. Project) | 5.000% | 12/1/34 | 1,000 | 938 |
| 2 | Suffolk County NY Economic Development Corp. Revenue (Peconic Landing at Southold Inc. Project) | 5.000% | 12/1/40 | 2,000 | 1,784 |
| Suffolk County NY GO | 5.000% | 4/1/23 (15) | 3,160 | 3,480 | |
| Suffolk County NY GO | 5.000% | 4/1/24 (15) | 3,075 | 3,480 | |
| Suffolk County NY GO | 5.000% | 10/15/25 (4) | 3,300 | 3,871 | |
| Suffolk County NY GO | 5.000% | 10/15/26 (4) | 1,150 | 1,375 | |
| Suffolk County NY GO | 4.000% | 10/15/27 (15) | 4,900 | 5,633 | |
| Suffolk County NY GO | 4.000% | 10/15/27 (4) | 2,410 | 2,725 | |
| Suffolk County NY GO | 4.000% | 10/15/28 (15) | 3,850 | 4,405 | |
| Suffolk County NY GO | 4.000% | 4/1/30 (15) | 4,420 | 4,971 | |
| Suffolk County NY GO | 4.000% | 4/1/31 (15) | 4,590 | 5,132 | |
| Suffolk County NY Judicial Facilities Agency Lease Revenue (H. Lee Dennison Building) | 5.000% | 11/1/33 | 8,000 | 8,410 | |
| Suffolk County NY Water Authority Water System Revenue | 3.250% | 6/1/43 | 580 | 623 | |
| Suffolk NY Tobacco Asset Securitization Corp. Revenue | 5.000% | 6/1/32 | 2,675 | 2,746 | |
| Suffolk NY Tobacco Asset Securitization Corp. Revenue | 5.250% | 6/1/37 | 3,300 | 3,398 | |
| Syracuse NY Industrial Development Agency Revenue (Syracuse City School District Project) | 4.000% | 5/1/33 | 1,025 | 1,177 | |
| Syracuse NY Industrial Development Agency Revenue (Syracuse City School District Project) | 4.000% | 5/1/34 | 1,200 | 1,370 | |
| Syracuse NY Industrial Development Agency Revenue (Syracuse City School District Project) | 4.000% | 5/1/34 | 725 | 842 | |
| Syracuse NY Industrial Development Agency Revenue (Syracuse City School District Project) | 4.000% | 5/1/35 | 1,000 | 1,134 | |
| Syracuse NY Industrial Development Agency Revenue (Syracuse City School District Project) | 4.000% | 5/1/35 | 500 | 576 | |
65
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Syracuse NY Industrial Development Agency Revenue (Syracuse City School District Project) | 4.000% | 5/1/36 | 1,000 | 1,143 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/26 | 3,095 | 3,595 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/28 | 5,680 | 6,679 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/29 | 5,000 | 5,850 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/30 | 5,225 | 6,066 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/32 | 1,725 | 1,979 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/33 | 5,000 | 5,707 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/34 | 6,000 | 6,825 | |
| Tobacco Settlement Financing Corp. New York Revenue | 5.000% | 6/1/41 | 5,500 | 5,854 | |
| Tompkins County NY Development Corp. Revenue (Ithaca College) | 5.000% | 7/1/32 | 1,555 | 1,772 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/26 | 7,770 | 8,671 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 0.000% | 11/15/29 | 2,705 | 2,163 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/29 | 725 | 858 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/30 | 500 | 590 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 0.000% | 11/15/31 | 5,500 | 4,075 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/31 | 6,990 | 7,771 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/31 | 3,010 | 3,609 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/31 | 5,000 | 6,781 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 0.000% | 11/15/32 | 3,500 | 2,546 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 0.000% | 11/15/32 | 235 | 167 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/33 | 2,000 | 2,332 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/33 | 1,540 | 1,865 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/34 | 3,210 | 3,871 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/35 | 5,000 | 6,199 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/36 | 5,010 | 5,929 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/37 | 2,500 | 2,928 | |
66
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/37 | 5,010 | 5,969 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/38 | 3,000 | 3,566 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/40 | 2,525 | 2,912 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/41 | 7,510 | 8,794 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/42 | 4,600 | 5,425 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/42 | 7,675 | 9,142 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/43 | 10,000 | 12,004 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/44 | 6,325 | 7,578 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.250% | 11/15/45 | 4,000 | 4,643 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/47 | 5,835 | 6,840 | |
| Triborough Bridge & Tunnel Authority New York Revenue | 5.000% | 11/15/49 | 2,240 | 2,719 | |
| Triborough Bridge & Tunnel Authority New York Revenue (MTA Bridges and Tunnels) | 3.000% | 11/15/48 | 2,000 | 2,036 | |
| Triborough Bridge & Tunnel Authority New York Revenue (MTA Bridges and Tunnels) | 4.000% | 11/15/48 | 10,000 | 11,045 | |
| Triborough Bridge & Tunnel Authority New York Revenue (MTA Bridges and Tunnels) | 5.000% | 11/15/49 | 9,000 | 11,211 | |
| Triborough Bridge & Tunnel Authority New York Revenue (MTA Bridges and Tunnels) | 4.000% | 11/15/54 | 7,000 | 7,871 | |
| Triborough Bridge & Tunnel Authority New York Revenue (MTA Bridges and Tunnels) | 5.000% | 11/15/54 | 4,500 | 5,557 | |
| Triborough Bridge & Tunnel Authority New York Revenue (MTA Bridges and Tunnels) VRDO | 0.070% | 6/1/20 LOC | 1,420 | 1,420 | |
| 1 | Triborough Bridge & Tunnel Authority New York Revenue TOB VRDO | 0.180% | 6/5/20 | 14,000 | 14,000 |
| Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 8/1/23 | 1,000 | 1,096 | |
| Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 8/1/24 | 1,000 | 1,123 | |
| Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 8/1/25 | 1,000 | 1,145 | |
| Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 8/1/26 | 1,000 | 1,153 | |
| Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 8/1/27 | 1,600 | 1,838 | |
| Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 8/1/28 | 1,000 | 1,147 | |
67
| New York Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| 2 | Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 9/1/37 | 2,900 | 3,441 |
| 2 | Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 9/1/38 | 2,500 | 2,956 |
| 2 | Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 5.000% | 9/1/39 | 2,845 | 3,354 |
| 2 | Troy NY Capital Resource Corp. Revenue (Rensselaer Polytechnic Institute Project) | 4.000% | 9/1/40 | 2,060 | 2,242 |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/32 | 9,650 | 11,037 | |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/33 | 3,150 | 3,593 | |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/33 | 2,755 | 3,334 | |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/34 | 5,185 | 5,911 | |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/36 | 23,700 | 28,580 | |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/38 | 3,010 | 3,749 | |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/39 | 3,015 | 3,750 | |
| Utility Debt Securitization Authority New York Revenue | 5.000% | 12/15/41 | 22,400 | 25,418 | |
| Westchester County NY Health Care Corp. Revenue | 6.000% | 11/1/20 (Prere.) | 85 | 87 | |
| Westchester County NY Health Care Corp. Revenue | 6.125% | 11/1/20 (Prere.) | 1,865 | 1,909 | |
| Westchester County NY Health Care Corp. Revenue | 5.000% | 11/1/21 | 2,500 | 2,615 | |
| Westchester County NY Health Care Corp. Revenue | 5.000% | 11/1/25 | 1,810 | 1,885 | |
| Westchester County NY Health Care Corp. Revenue | 5.000% | 11/1/30 | 11,715 | 12,226 | |
| Westchester County NY Health Care Corp. Revenue | 6.000% | 11/1/30 | 15 | 15 | |
| Westchester County NY Health Care Corp. Revenue | 6.125% | 11/1/37 | 235 | 240 | |
| Westchester County NY Local Development Corp. Revenue (Kendal on Hudson Project) | 5.000% | 1/1/28 | 1,350 | 1,356 | |
| Westchester County NY Local Development Corp. Revenue (Kendal on Hudson Project) | 5.000% | 1/1/34 | 1,555 | 1,525 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/20 | 280 | 280 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/21 | 425 | 434 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/22 | 400 | 416 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/23 | 425 | 448 | |
68
New York Long-Term Tax-Exempt Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/24 | 250 | 267 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/25 | 260 | 280 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/26 | 290 | 315 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/27 | 270 | 294 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/28 | 280 | 303 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/29 | 500 | 541 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/34 | 200 | 213 | |
| Westchester County NY Local Development Corp. Revenue (Miriam Osborn Memorial Home) | 5.000% | 7/1/42 | 450 | 471 | |
| Westchester County NY Local Development Corp. Revenue (Pace University) | 5.000% | 5/1/34 | 15,150 | 16,256 | |
| Westchester County NY Local Development Corp. Revenue (Pace University) | 5.500% | 5/1/42 | 7,640 | 8,235 | |
| Westchester County NY Local Development Corp. Revenue (Purchase Housing Corp. II Project) | 5.000% | 6/1/37 | 1,275 | 1,339 | |
| Westchester County NY Local Development Corp. Revenue (Purchase Housing Corp. II Project) | 5.000% | 6/1/47 | 1,045 | 1,081 | |
| Westchester County NY Local Development Corp. Revenue (Westchester Medical Center) | 5.000% | 11/1/27 | 1,000 | 1,111 | |
| Westchester County NY Local Development Corp. Revenue (Westchester Medical Center) | 5.000% | 11/1/28 | 1,000 | 1,108 | |
| Westchester County NY Local Development Corp. Revenue (Westchester Medical Center) | 5.000% | 11/1/29 | 1,000 | 1,104 | |
| Westchester County NY Local Development Corp. Revenue (Westchester Medical Center) | 5.000% | 11/1/34 | 2,500 | 2,707 | |
| Westchester County NY Local Development Corp. Revenue (Westchester Medical Center) | 3.750% | 11/1/37 | 1,030 | 1,038 | |
| Westchester County NY Local Development Corp. Revenue (Westchester Medical Center) | 5.000% | 11/1/46 | 19,140 | 19,863 | |
| Yonkers NY Economic Development Corp. Educational Revenue (Charter School of Educational Excellence Project) | 4.000% | 10/15/29 | 200 | 195 | |
| Yonkers NY Economic Development Corp. Educational Revenue (Charter School of Educational Excellence Project) | 5.000% | 10/15/39 | 420 | 421 |
69
New York Long-Term Tax-Exempt Fund
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Yonkers NY Economic Development Corp. Educational Revenue (Charter School of Educational Excellence Project) | 5.000% | 10/15/49 | 640 | 619 | |
| Yonkers NY Economic Development Corp. Educational Revenue (Charter School of Educational Excellence Project) | 5.000% | 10/15/54 | 465 | 445 | |
| 4,924,026 | |||||
| Puerto Rico (0.3%) | |||||
| Puerto Rico Aqueduct & Sewer Authority Revenue | 5.000% | 7/1/33 | 365 | 362 | |
| Puerto Rico Aqueduct & Sewer Authority Revenue | 5.250% | 7/1/42 | 1,285 | 1,269 | |
| Puerto Rico Sales Tax Financing Corp. Revenue | 0.000% | 7/1/24 | 1,082 | 952 | |
| Puerto Rico Sales Tax Financing Corp. Revenue | 0.000% | 7/1/27 | 2,511 | 1,980 | |
| Puerto Rico Sales Tax Financing Corp. Revenue | 0.000% | 7/1/29 | 2,363 | 1,709 | |
| Puerto Rico Sales Tax Financing Corp. Revenue | 0.000% | 7/1/31 | 275 | 181 | |
| Puerto Rico Sales Tax Financing Corp. Revenue | 4.329% | 7/1/40 | 10,826 | 10,393 | |
| Puerto Rico Sales Tax Financing Corp. Revenue | 4.329% | 7/1/40 | 762 | 731 | |
| 17,577 | |||||
| Guam (0.2%) | |||||
| Guam Government Business Privilege Tax Revenue | 5.000% | 11/15/27 | 475 | 506 | |
| Guam Government Waterworks Authority Water & Wastewater System Revenue | 5.000% | 7/1/29 | 1,000 | 1,071 | |
| Guam Power Authority Revenue | 5.000% | 10/1/31 | 5,980 | 6,562 | |
| 2 | Guam Waterworks Authority Water & Wastewater System Revenue | 5.000% | 1/1/50 | 750 | 829 |
| 8,968 | |||||
| Total Tax-Exempt Municipal Bonds (Cost $4,726,742) | 4,950,571 | ||||
| Other Assets and Liabilities—Net (0.2%) | 8,064 | ||||
| Net Assets (100%) | 4,958,635 | ||||
Cost is in $000.
• See Note A in Notes to Financial Statements.
1 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2020, the aggregate value of these securities was $21,710,000, representing 0.4% of net assets.
2 Security purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of May 31, 2020.
See accompanying Notes, which are an integral part of the Financial Statements.
70
New York Long-Term Tax-Exempt Fund
Key to Abbreviations
ARS—Auction Rate Security.
BAN—Bond Anticipation Note.
CMT—Constant Maturing Treasury Rate.
COP—Certificate of Participation.
CP—Commercial Paper.
FR—Floating Rate.
GAN—Grant Anticipation Note.
GO—General Obligation Bond.
LIBOR—London Interbank Offered Rate.
PILOT—Payments in Lieu of Taxes.
PUT—Put Option Obligation.
RAN—Revenue Anticipation Note.
SIFMA—Securities Industry and Financial Markets Association.
SOFR—Secured Overnight Financing Rate.
TAN—Tax Anticipation Note.
TOB—Tender Option Bond.
TRAN—Tax Revenue Anticipation Note.
VRDO—Variable Rate Demand Obligation.
VRDP—Variable Rate Demand Preferred.
(ETM)—Escrowed to Maturity.
(Prere.)—Prerefunded.
Scheduled principal and interest payments are guaranteed by:
(1) MBIA (Municipal Bond Investors Assurance).
(2) AMBAC (Ambac Assurance Corporation).
(3) FGIC (Financial Guaranty Insurance Company).
(4) AGM (Assured Guaranty Municipal Corporation).
(5) BIGI (Bond Investors Guaranty Insurance).
(6) Connie Lee Inc.
(7) FHA (Federal Housing Authority).
(8) CapMAC (Capital Markets Assurance Corporation).
(9) American Capital Access Financial Guaranty Corporation.
(10) XL Capital Assurance Inc.
(11) CIFG (CDC IXIS Financial Guaranty).
(12) AGC (Assured Guaranty Corporation).
(13) BHAC (Berkshire Hathaway Assurance Corporation).
(14) NPFG (National Public Finance Guarantee Corporation).
(15) BAM (Build America Mutual Assurance Company).
(16) MAC (Municipal Assurance Corporation).
(17) RAA (Radian Asset Assurance Inc.).
(18) SBLF (Michigan School Bond Loan Fund).
(19) TPSF (Texas Permanent School Fund).
(20) NATL (National Public Financial Guarantee Corporation).
The insurance does not guarantee the market value of the municipal bonds.
LOC—Scheduled principal and interest payments are guaranteed by bank letter of credit.
71
New York Long-Term Tax-Exempt Fund
Statement of Assets and Liabilities
As of May 31, 2020
| ($000s, except shares and per-share amounts) | Amount |
| Assets | |
| Investments in Securities, at Value—Unaffiliated Issuers (Cost $4,726,742) | 4,950,571 |
| Investment in Vanguard | 227 |
| Cash | 60 |
| Receivables for Investment Securities Sold | 10,017 |
| Receivables for Accrued Income | 52,556 |
| Receivables for Capital Shares Issued | 1,711 |
| Other Assets | 188 |
| Total Assets | 5,015,330 |
| Liabilities | |
| Payables for Investment Securities Purchased | 45,111 |
| Payables for Capital Shares Redeemed | 8,173 |
| Payables for Distributions | 3,173 |
| Payables to Vanguard | 238 |
| Total Liabilities | 56,695 |
| Net Assets | 4,958,635 |
| At May 31, 2020, net assets consisted of: | |
| Paid-in Capital | 4,721,307 |
| Total Distributable Earnings (Loss) | 237,328 |
| Net Assets | 4,958,635 |
| Investor Shares—Net Assets | |
| Applicable to 42,840,676 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 509,395 |
| Net Asset Value Per Share—Investor Shares | $11.89 |
| Admiral Shares—Net Assets | |
| Applicable to 374,186,699 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 4,449,240 |
| Net Asset Value Per Share—Admiral Shares | $11.89 |
See accompanying Notes, which are an integral part of the Financial Statements.
72
New York Long-Term Tax-Exempt Fund
Statement of Operations
| Six Months Ended | ||
| May 31, 2020 | ||
| ($000 | ) | |
| Investment Income | ||
| Income | ||
| Interest | 77,219 | |
| Total Income | 77,219 | |
| Expenses | ||
| The Vanguard Group—Note B | ||
| Investment Advisory Services | 291 | |
| Management and Administrative—Investor Shares | 387 | |
| Management and Administrative—Admiral Shares | 1,671 | |
| Marketing and Distribution—Investor Shares | 38 | |
| Marketing and Distribution—Admiral Shares | 144 | |
| Custodian Fees | 11 | |
| Shareholders’ Reports—Investor Shares | 4 | |
| Shareholders’ Reports—Admiral Shares | 6 | |
| Trustees’ Fees and Expenses | 2 | |
| Total Expenses | 2,554 | |
| Expenses Paid Indirectly | (9 | ) |
| Net Expenses | 2,545 | |
| Net Investment Income | 74,674 | |
| Realized Net Gain (Loss) | ||
| Investment Securities Sold | 22,868 | |
| Futures Contracts | (2,623 | ) |
| Realized Net Gain (Loss) | 20,245 | |
| Change in Unrealized Appreciation (Depreciation) | ||
| Investment Securities | (72,175 | ) |
| Futures Contracts | (7 | ) |
| Change in Unrealized Appreciation (Depreciation) | (72,182 | ) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 22,737 |
See accompanying Notes, which are an integral part of the Financial Statements.
73
New York Long-Term Tax-Exempt Fund
Statement of Changes in Net Assets
| Six Months Ended | Year Ended | |||
| May 31, | November 30, | |||
| 2020 | 2019 | |||
| ($000) | ($000 | ) | ||
| Increase (Decrease) in Net Assets | ||||
| Operations | ||||
| Net Investment Income | 74,674 | 148,285 | ||
| Realized Net Gain (Loss) | 20,245 | 14,919 | ||
| Change in Unrealized Appreciation (Depreciation) | (72,182) | 263,684 | ||
| Net Increase (Decrease) in Net Assets Resulting from Operations | 22,737 | 426,888 | ||
| Distributions1 | ||||
| Investor Shares | (9,541) | (15,852 | ) | |
| Admiral Shares | (83,324) | (141,963 | ) | |
| Total Distributions | (92,865) | (157,815 | ) | |
| Capital Share Transactions | ||||
| Investor Shares | (32,949) | 97,822 | ||
| Admiral Shares | (136,353) | 449,655 | ||
| Net Increase (Decrease) from Capital Share Transactions | (169,302) | 547,477 | ||
| Total Increase (Decrease) | (239,430) | 816,550 | ||
| Net Assets | ||||
| Beginning of Period | 5,198,065 | 4,381,515 | ||
| End of Period | 4,958,635 | 5,198,065 |
1 Certain prior period numbers have been reclassified to conform with current period presentation.
See accompanying Notes, which are an integral part of the Financial Statements.
74
New York Long-Term Tax-Exempt Fund
Financial Highlights
Investor Shares
| Six Months | |||||||||
| Ended | Year Ended November 30, | ||||||||
| For a Share Outstanding | May 31, | ||||||||
| Throughout Each Period | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |||
| Net Asset Value, Beginning of Period | $12.01 | $11.34 | $11.71 | $11.49 | $11.84 | $11.77 | |||
| Investment Operations | |||||||||
| Net Investment Income | .168 | 1 | .354 | 1 | .3691 | .3721 | .384 | .390 | |
| Net Realized and Unrealized Gain (Loss) on Investments | (.078 | ) | .696 | (.314) | .282 | (.343) | .070 | ||
| Total from Investment Operations | .090 | 1.050 | .055 | .654 | .041 | .460 | |||
| Distributions | |||||||||
| Dividends from Net Investment Income | (.168 | ) | (.355 | ) | (.369) | (.372) | (.380) | (.390 | ) |
| Distributions from Realized Capital Gains | (.042 | ) | (.025 | ) | (.056) | (.062) | (.011) | — | |
| Total Distributions | (.210 | ) | (.380 | ) | (.425) | (.434) | (.391) | (.390 | ) |
| Net Asset Value, End of Period | $11.89 | $12.01 | $11.34 | $11.71 | $11.49 | $11.84 | |||
| Total Return2 | 0.75% | 9.37% | 0.48% | 5.76% | 0.24% | 3.97% | |||
| Ratios/Supplemental Data | |||||||||
| Net Assets, End of Period (Millions) | $509 | $550 | $425 | $464 | $460 | $423 | |||
| Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.19% | 0.19% | 0.20% | |||
| Ratio of Net Investment Income to Average Net Assets | 2.82% | 3.00% | 3.21% | 3.18% | 3.18% | 3.26% | |||
| Portfolio Turnover Rate | 16% | 15% | 18% | 16% | 18% | 17% | |||
The expense ratio and net investment income ratio for the current period have been annualized.
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
See accompanying Notes, which are an integral part of the Financial Statements.
75
New York Long-Term Tax-Exempt Fund
Financial Highlights
Admiral Shares
| Six Months | |||||||||
| Ended | Year Ended November 30, | ||||||||
| For a Share Outstanding | May 31, | ||||||||
| Throughout Each Period | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |||
| Net Asset Value, Beginning of Period | $12.01 | $11.34 | $11.71 | $11.49 | $11.84 | $11.77 | |||
| Investment Operations | |||||||||
| Net Investment Income | .173 | 1 | .364 | 1 | .3781 | .3841 | .396 | .400 | |
| Net Realized and Unrealized Gain (Loss) | |||||||||
| on Investments | (.078 | ) | .695 | (.314) | .282 | (.343) | .070 | ||
| Total from Investment Operations | .095 | 1.059 | .064 | .666 | .053 | .470 | |||
| Distributions | |||||||||
| Dividends from Net Investment Income | (.173 | ) | (.364 | ) | (.378) | (.384) | (.392) | (.400 | ) |
| Distributions from Realized Capital Gains | (.042 | ) | (.025 | ) | (.056) | (.062) | (.011) | — | |
| Total Distributions | (.215 | ) | (.389 | ) | (.434) | (.446) | (.403) | (.400 | ) |
| Net Asset Value, End of Period | $11.89 | $12.01 | $11.34 | $11.71 | $11.49 | $11.84 | |||
| Total Return2 | 0.79% | 9.46% | 0.56% | 5.87% | 0.34% | 4.06% | |||
| Ratios/Supplemental Data | |||||||||
| Net Assets, End of Period (Millions) | $4,449 | $4,648 | $3,956 | $3,929 | $3,527 | $3,547 | |||
| Ratio of Total Expenses to Average Net Assets | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.12% | |||
| Ratio of Net Investment Income to Average Net Assets | 2.90% | 3.08% | 3.29% | 3.28% | 3.28% | 3.34% | |||
| Portfolio Turnover Rate | 16% | 15% | 18% | 16% | 18% | 17% | |||
The expense ratio and net investment income ratio for the current period have been annualized.
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
See accompanying Notes, which are an integral part of the Financial Statements.
76
New York Long-Term Tax-Exempt Fund
Notes to Financial Statements
Vanguard New York Long-Term Tax-Exempt Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: Investor Shares and Admiral Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors.
The fund invests in debt instruments of municipal issuers whose ability to meet their obligations may be affected by economic and political developments in the state. Market disruptions associated with the COVID-19 pandemic have had a global impact, and uncertainty exists as to the long-term implications. Such disruptions can adversely affect assets of the fund and thus fund performance.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value.
2. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any assets pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Schedule of Investments. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.
During the six months ended May 31, 2020, the fund’s average investments in long and short futures contracts represented less than 1% and 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period. The fund had no open futures contracts at May 31, 2020.
3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (November 30, 2016–2019), and for the period ended May 31, 2020, and has concluded that no provision for federal income tax is required in the fund’s financial statements.
77
New York Long-Term Tax-Exempt Fund
4. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month. Annual distributions from realized capital gains, if any, are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.
5. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes, subject to the fund’s regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under either facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate (or an acceptable alternate rate, if necessary), federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread, except that borrowings under the uncommitted credit facility may bear interest based upon an alternative rate agreed to by the fund and Vanguard.
In accordance with an exemptive order (the “Order”) from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund’s investment objective and investment policies. Interfund loans and borrowings normally extend overnight, but can have a maximum duration of seven days. Loans may be called on one business day’s notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.
For the six months ended May 31, 2020, the fund did not utilize the credit facilities or the Interfund Lending Program.
6. Other: Interest income is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.
78
New York Long-Term Tax-Exempt Fund
B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month.
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At May 31, 2020, the fund had contributed to Vanguard capital in the amount of $227,000, representing less than 0.01% of the fund’s net assets and 0.09% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
C. The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended May 31, 2020, custodian fee offset arrangements reduced the fund’s expenses by $9,000 (an annual rate of less than 0.01% of average net assets).
D. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments valued with significant unobservable inputs are noted on the Schedule of Investments.
At May 31, 2020, 100% of the market value of the fund’s investments was determined based on Level 2 inputs.
E. As of May 31, 2020, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:
| Amount | |
| ($000) | |
| Tax Cost | 4,729,225 |
| Gross Unrealized Appreciation | 249,492 |
| Gross Unrealized Depreciation | (28,146) |
| Net Unrealized Appreciation (Depreciation) | 221,346 |
79
New York Long-Term Tax-Exempt Fund
F. During the six months ended May 31, 2020, the fund purchased $779,192,000 of investment securities and sold $1,020,300,000 of investment securities, other than temporary cash investments.
The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended May 31, 2020, such purchases and sales were $183,475,000 and $227,600,000, respectively; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.
G. Capital share transactions for each class of shares were:
| Six Months Ended | Year Ended | ||||
| May 31, 2020 | November 30, 2019 | ||||
| Amount | Shares | Amount | Shares | ||
| ($000) | (000) | ($000) | (000) | ||
| Investor Shares | |||||
| Issued | 92,584 | 7,730 | 183,561 | 15,618 | |
| Issued in Lieu of Cash Distributions | 8,122 | 679 | 13,479 | 1,141 | |
| Redeemed | (133,655) | (11,384) | (99,218) | (8,432) | |
| Net Increase (Decrease)—Investor Shares | (32,949) | (2,975) | 97,822 | 8,327 | |
| Admiral Shares | |||||
| Issued | 475,174 | 39,897 | 934,741 | 79,570 | |
| Issued in Lieu of Cash Distributions | 60,743 | 5,076 | 102,567 | 8,688 | |
| Redeemed | (672,270) | (57,684) | (587,653) | (50,257) | |
| Net Increase (Decrease)—Admiral Shares | (136,353) | (12,711) | 449,655 | 38,001 | |
H. Management has determined that no events or transactions occurred subsequent to May 31, 2020, that would require recognition or disclosure in these financial statements.
80
Trustees Approve Advisory Arrangements
The board of trustees of Vanguard New York Municipal Money Market Fund and Vanguard New York Long-Term Tax-Exempt Fund has renewed each fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Fixed Income Group. The board determined that continuing each fund’s internalized management structure was in the best interests of the fund and its shareholders.
The board based its decision upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard’s Portfolio Review Department, which is responsible for fund and advisor oversight and product management. The Portfolio Review Department met regularly with the advisor and made monthly presentations to the board during the fiscal year that directed the board’s focus to relevant information and topics.
The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor’s assessment of the investment environment, portfolio performance, and portfolio characteristics.
In addition, the board received monthly reports, which included a Market and Economic Report, a Fund Dashboard Monthly Summary, and a Fund Performance Report.
Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decision.
Nature, extent, and quality of services
The board reviewed the quality of each fund’s investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Fixed Income Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.
The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of each advisory arrangement.
Investment performance
The board considered the short- and long-term performance of each fund, including any periods of outperformance or underperformance compared with a relevant benchmark index (as applicable) and peer group. The board concluded that the performance was such that each advisory arrangement should continue.
81
Cost
The board concluded that each fund’s expense ratio was well below the average expense ratio charged by funds in its peer group and that each fund’s advisory expenses were also well below the peer-group average.
The board does not conduct a profitability analysis of Vanguard because of Vanguard’s unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.
The benefit of economies of scale
The board concluded that each fund’s arrangement with Vanguard ensures that the funds will realize economies of scale as they grow, with the cost to shareholders declining as fund assets increase.
The board will consider whether to renew the advisory arrangements again after a one-year period.
82
Liquidity Risk Management
Vanguard funds (except for the money market funds) have adopted and implemented a written liquidity risk management program (the “Program”) as required by Rule 22e-4 under the Investment Company Act of 1940. Rule 22e-4 requires that each fund adopt a program that is reasonably designed to assess and manage the fund’s liquidity risk, which is the risk that the fund could not meet redemption requests without significant dilution of remaining investors’ interests in the fund.
Assessment and management of a fund’s liquidity risk under the Program take into consideration certain factors, such as the fund’s investment strategy and the liquidity of its portfolio investments during normal and reasonably foreseeable stressed conditions, its short- and long-term cash-flow projections during both normal and reasonably foreseeable stressed conditions, and its cash and cash-equivalent holdings and access to other funding sources. As required by the rule, the Program includes policies and procedures for classification of fund portfolio holdings in four liquidity categories, maintaining certain levels of highly liquid investments, and limiting holdings of illiquid investments.
The board of trustees of Vanguard New York Tax-Free Funds approved the appointment of liquidity risk management program administrators responsible for administering Vanguard New York Long-Term Tax-Exempt Fund’s program, and for carrying out the specific responsibilities set forth in the Program, including reporting to the board on at least an annual basis regarding the Program’s operation, its adequacy, and the effectiveness of its implementation for the past year (the “Program Administrator Report”). The board has reviewed the Program Administrator Report covering the period from December 1, 2018, through December 31, 2019 (the “Review Period”). The Program Administrator Report stated that during the Review Period the Program operated and was implemented effectively to manage the funds’ liquidity risk.
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You can obtain a free copy of Vanguard’s proxy voting guidelines by visiting vanguard.com/proxyreporting or by calling Vanguard at 800-662-2739. The guidelines are also available from the SEC’s website, www.sec.gov. In addition, you may obtain a free report on how your fund voted the proxies for securities it owned during the 12 months ended June 30. To get the report, visit either vanguard.com/proxyreporting or www.sec.gov.
You can review information about your fund on the SEC’s website, and you can receive copies of this information, for a fee, by sending a request via email addressed to publicinfo@sec.gov.
| ©
2020 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor. Q762 072020 |
Item 2: Code of Ethics.
Not applicable.
Item 3: Audit Committee Financial Expert.
Not applicable.
Item 4: Principal Accountant Fees and Services.
(a) Audit Fees.
Not applicable.
Item 5: Audit Committee of Listed Registrants.
Not applicable.
Item 6: Investments.
Not applicable.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
| (a) | Certifications. |
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.
| VANGUARD NEW YORK TAX-FREE FUNDS | ||
| BY: | /s/ MORTIMER J. BUCKLEY* | |
| MORTIMER J. BUCKLEY | ||
| CHIEF EXECUTIVE OFFICER | ||
Date: July 17, 2020
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.
| VANGUARD NEW YORK TAX-FREE FUNDS | ||
| BY: | /s/ MORTIMER J. BUCKLEY* | |
| MORTIMER J. BUCKLEY | ||
| CHIEF EXECUTIVE OFFICER | ||
Date: July 17, 2020
| VANGUARD NEW YORK TAX-FREE FUNDS | ||
| BY: | /s/ JOHN BENDL* | |
| JOHN BENDL | ||
| CHIEF FINANCIAL OFFICER | ||
Date: July 17, 2020
* By: /s/ Anne E. Robinson
Anne E. Robinson, pursuant to a Power of Attorney filed on January 18, 2018 (see file Number 33-32216) and a Power of Attorney filed on October 30, 2019 (see file Number 811-02554), Incorporated by Reference.