0001104659-22-084518.txt : 20220801 0001104659-22-084518.hdr.sgml : 20220801 20220801102358 ACCESSION NUMBER: 0001104659-22-084518 CONFORMED SUBMISSION TYPE: N-CSRS PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20220531 FILED AS OF DATE: 20220801 DATE AS OF CHANGE: 20220801 EFFECTIVENESS DATE: 20220801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD NEW YORK TAX-FREE FUNDS CENTRAL INDEX KEY: 0000788599 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-CSRS SEC ACT: 1940 Act SEC FILE NUMBER: 811-04570 FILM NUMBER: 221123198 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD NEW YORK INSURED TAX FREE FUND DATE OF NAME CHANGE: 19920703 0000788599 S000002905 Vanguard New York Long-Term Tax-Exempt Fund C000007969 Investor Shares VNYTX C000007970 Admiral Shares VNYUX 0000788599 S000002906 Vanguard New York Municipal Money Market Fund C000007971 Investor Shares VYFXX N-CSRS 1 tm2220095d6_ncsrs.htm N-CSRS

 

 

 

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, 2021—May 31, 2022

 

 

 

 

 

 

Item 1: Reports to Shareholders

 

 

 

 

Semiannual Report   |   May 31, 2022
Vanguard New York Tax-Exempt Funds
Vanguard New York Municipal Money Market Fund
Vanguard New York Long-Term Tax-Exempt Fund

 

Contents
About Your Fund’s Expenses
1
New York Municipal Money Market Fund
3
New York Long-Term Tax-Exempt Fund
18
Trustees Approve Advisory Arrangements
70
Liquidity Risk Management
72

 

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, 2022      
  Beginning
Account Value
11/30/2021 		Ending
Account Value
5/31/2022 		Expenses
Paid During
Period
Based on Actual Fund Return      
New York Municipal Money Market Fund $1,000.00 $1,000.90 $0.65
New York Long-Term Tax-Exempt Fund      
Investor Shares $1,000.00 $915.00 $0.81
Admiral™ Shares 1,000.00 915.40 0.43
Based on Hypothetical 5% Yearly Return      
New York Municipal Money Market Fund $1,000.00 $1,024.28 $0.66
New York Long-Term Tax-Exempt Fund      
Investor Shares $1,000.00 $1,024.08 $0.86
Admiral Shares 1,000.00 1,024.48 0.45
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, 0.13%; 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 (182/365).
2

 

New York Municipal Money Market Fund
Distribution by Effective Maturity1
As of May 31, 2022
1 - 7 Days 98.1%
8 - 30 Days 0.5
31 - 60 Days 0.2
61 - 90 Days 0.0
91 - 180 Days 1.1
Over 180 Days 0.1
1 Percentage of investments.
3

 

New York Municipal Money Market Fund
Financial Statements (unaudited)
Schedule of Investments
As of May 31, 2022
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.
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
Tax-Exempt Municipal Bonds (99.4%)
New York (99.4%)
1 Albany Industrial Development Agency Miscellaneous Revenue (CHF Holland Suites Project) VRDO 0.800%   6/2/22  5,955     5,955
  Battery Park City Authority Miscellaneous Revenue VRDO 0.780%   6/2/22 10,600    10,600
1,2 Battery Park City NY Authority Revenue TOB VRDO 0.820%   6/2/22 30,805    30,805
1,2,3 BlackRock MuniYield New York Quality Fund Inc. PUT VRDP 0.880%   6/7/22 71,400    71,400
1,2 Erie County NY Industrial Development Agency School Facility Lease (Appropriation) TOB VRDO 0.810%   6/2/22  6,665     6,665
1 Franklin County Civic Development Corp. Health, Hospital, Nursing Home Revenue VRDO 0.810%   6/2/22 19,710    19,710
1 Geneva Industrial Development Agency College & University Revenue VRDO 0.810%   6/2/22 10,875    10,875
  Grand Island NY BAN GO 1.500%  10/7/22  8,456     8,491
  Harrison NY BAN GO 1.000%  7/13/22  5,000     5,005
1,2 Metropolitan Transportation Authority Fuel Sales Tax Revenue TOB VRDO 0.820%   6/2/22  6,750     6,750
1 Metropolitan Transportation Authority Miscellaneous Taxes Revenue VRDO 0.800%   6/2/22 19,740    19,740
1,2 Metropolitan Transportation Authority New York Fuel Sales Tax Revenue TOB VRDO 0.830%   6/7/22  5,055     5,055
1 Metropolitan Transportation Authority Transit Revenue 0.800%   6/2/22 20,000    20,000
1,2 Monroe County NY Industrial Development Corp. College & University Revenue TOB VRDO 0.830%   6/7/22  2,800     2,800
1,2 Nassau County NY GO TOB VRDO 0.820%   6/2/22  6,000     6,000
1 New York City Capital Resources Corp. Health, Hospital, Nursing Home Revenue VRDO 0.810%   6/2/22 23,800    23,800
1,2 New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue TOB VRDO 0.840%   6/7/22  2,665     2,665
1 New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue VRDO 0.800%   6/1/22  3,800     3,800
1,2 New York City Housing Development Corp. Local or Guaranteed Housing Revenue TOB VRDO 0.820%   6/2/22  4,620     4,620
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.700%   6/1/22  5,250     5,250
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.780%   6/1/22  4,500     4,500
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.800%   6/1/22 35,600    35,600
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.800%   6/1/22  2,300     2,300
4

 

New York Municipal Money Market Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.800%   6/1/22 31,950    31,950
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.800%   6/1/22 10,000    10,000
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.840%   6/1/22  5,990     5,990
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.840%   6/1/22 13,400    13,400
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.850%   6/1/22  2,775     2,775
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.870%   6/1/22 12,850    12,850
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.750%   6/2/22 14,650    14,650
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.750%   6/2/22  6,070     6,070
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.790%   6/2/22 23,900    23,900
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.720%   6/7/22  2,950     2,950
1 New York City Housing Development Corp. Local or Guaranteed Housing Revenue VRDO 0.800%   6/7/22  4,500     4,500
1,2 New York City Housing Development Corp. Multi-Family Housing Local or Guaranteed Housing Revenue TOB VRDO 0.820%   6/2/22 10,000    10,000
1,2 New York City Housing Development Corp. Multi-Family Housing Local or Guaranteed Housing Revenue VRDO 0.820%   6/2/22  6,315     6,315
1,2 New York City Housing Development Corp. Multi-Family Housing Local or Guaranteed Housing Revenue VRDO 0.820%   6/2/22  8,160     8,160
1,2 New York City Housing Development Corp. Multi-Family Housing Local or Guaranteed Housing Revenue VRDO 0.820%   6/7/22  7,005     7,005
1,2 New York City Housing Development Corp. Multi-Family Housing Revenue TOB VRDO 0.820%   6/2/22  6,665     6,665
1 New York City Housing Development Corp. Multi-Family Mortgage Local or Guaranteed (1405 Fifth Avenue Apartments) VRDO 0.840%   6/1/22  3,550     3,550
1 New York City Industrial Development Agency Auto Parking Revenue VRDO 0.780%   6/2/22  2,680     2,680
1 New York City Industrial Development Agency Lease (Appropriation) Revenue VRDO 0.570%   6/1/22  5,300     5,300
1,2 New York City Municipal Water Finance Authority Water & Sewer System Water Revenue TOB VRDO 0.670%   6/1/22 15,485    15,485
  New York City Municipal Water Finance Sewer Revenue VRDO 0.600%   6/1/22  2,300     2,300
  New York City Municipal Water Finance Sewer Revenue VRDO 0.670%   6/1/22 19,695    19,695
  New York City Municipal Water Finance Water Revenue VRDO 0.580%   6/1/22  7,600     7,600
  New York City Municipal Water Finance Water Revenue VRDO 0.620%   6/1/22 16,220    16,220
1 New York City Municipal Water Finance Water Revenue VRDO 0.670%   6/1/22  9,920     9,920
1 New York City Municipal Water Finance Water Revenue VRDO 0.670%   6/1/22 56,275    56,275
  New York City Municipal Water Finance Water Revenue VRDO 0.810%   6/2/22 19,040    19,040
1 New York City NY Capital Resources Corp. Health, Hospital, Nursing Home Revenue VRDO 0.820%   6/2/22  2,870     2,870
1,2 New York City NY GO TOB VRDO 0.670%   6/1/22  8,400     8,400
1,2 New York City NY GO TOB VRDO 0.820%   6/2/22  2,515     2,515
1 New York City NY GO VRDO 0.640%   6/1/22 14,850    14,850
1,2 New York City NY Municipal Water Finance Authority Water & Sewer System Water Revenue TOB VRDO 0.670%   6/1/22  7,500     7,500
1,2 New York City NY Municipal Water Finance Authority Water & Sewer System Water Revenue TOB VRDO 0.810%   6/2/22  2,000     2,000
5

 

New York Municipal Money Market Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1,2 New York City NY Municipal Water Finance Authority Water & Sewer System Water Revenue TOB VRDO 0.820%   6/2/22  3,000     3,000
2 New York City NY Municipal Water Finance Authority Water & Sewer System Water Revenue TOB VRDO 0.850%   6/2/22  3,465     3,465
1,2 New York City NY Municipal Water Finance Authority Water & Sewer System Water Revenue TOB VRDO 0.820%   6/7/22  2,500     2,500
1,2 New York City NY Municipal Water Finance Authority Water & Sewer System Water Revenue TOB VRDO 0.820%   6/7/22  5,000     5,000
1,2 New York City NY Transitional Finance Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22  7,500     7,500
1,2 New York City NY Transitional Finance Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22  3,200     3,200
1,2 New York City NY Transitional Finance Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22  5,915     5,915
1,2 New York City NY Transitional Finance Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22 18,750    18,750
1,2 New York City NY Transitional Finance Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22  5,000     5,000
1,2 New York City NY Transitional Finance Authority Income Tax Revenue TOB VRDO 0.820%   6/7/22  1,835     1,835
1,2 New York City Transitional Finance Authority Building Aid Appropriations Revenue TOB VRDO 0.820%   6/2/22  1,700     1,700
1,2 New York City Transitional Finance Authority Building Aid Appropriations Revenue VRDO 0.820%   6/2/22 45,570    45,570
1,2 New York City Transitional Finance Authority Building Aid Income Tax Revenue TOB VRDO 0.820%   6/2/22  3,075     3,075
1,2 New York City Transitional Finance Authority Building Aid Income Tax Revenue TOB VRDO 0.820%   6/2/22  2,340     2,340
1,2 New York City Transitional Finance Authority Future Tax Income Tax Revenue TOB VRDO 0.820%   6/2/22  1,500     1,500
1,2 New York City Transitional Finance Authority Future Tax Income Tax Revenue TOB VRDO 0.820%   6/2/22  3,335     3,335
1,2 New York City Transitional Finance Authority Future Tax Income Tax Revenue TOB VRDO 0.830%   6/2/22 14,300    14,300
1,2 New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue TOB VRDO 0.820%   6/2/22  5,175     5,175
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue VRDO 0.670%   6/1/22  9,925     9,925
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue VRDO 0.820%   6/2/22 18,000    18,000
1,2 New York City Transitional Finance Authority Future Tax Secured Revenue TOB VRDO 0.820%   6/2/22  1,105     1,105
  New York City Trust for Cultural Resources Recreational Revenue VRDO 0.730%   6/2/22 38,790    38,790
  New York City Trust for Cultural Resources Recreational Revenue VRDO 0.730%   6/2/22 28,440    28,440
  New York City Water & Sewer System Sewer Revenue VRDO 0.670%   6/1/22  3,100     3,100
1,2 New York City Water & Sewer System Water Revenue TOB VRDO 0.810%   6/2/22  1,600     1,600
  New York City Water & Sewer System Water Revenue VRDO 0.620%   6/1/22  3,500     3,500
1 New York City Water & Sewer System Water Revenue VRDO 0.670%   6/1/22  4,345     4,345
1,2 New York GO TOB VRDO 0.820%   6/2/22  2,000     2,000
1,2 New York GO TOB VRDO 0.820%   6/7/22  4,000     4,000
  New York GO VRDO 0.620%   6/1/22  8,000     8,000
1 New York Liberty Development Corp. Industrial Revenue VRDO 0.780%   6/2/22 34,825    34,825
1,2 New York Metropolitan Transportation Authority Fuel Sales Tax Revenue TOB VRDO 0.820%   6/2/22  3,330     3,330
1,2 New York Metropolitan Transportation Authority Fuel Sales Tax Revenue TOB VRDO 0.840%   6/2/22 11,000    11,000
6

 

New York Municipal Money Market Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1,2 New York Metropolitan Transportation Authority Special Tax Revenue TOB VRDO 0.810%   6/2/22 12,800    12,800
1,2 New York Metropolitan Transportation Authority Transit Sales Tax Revenue TOB VRDO 0.820%   6/2/22  9,350     9,350
  New York Mortgage Agency Local or Guaranteed Housing Revenue VRDO 0.820%   6/1/22  5,170     5,170
  New York Mortgage Agency Local or Guaranteed Housing Revenue VRDO 0.820%   6/1/22 26,390    26,390
  New York Mortgage Agency Local or Guaranteed Housing Revenue VRDO 0.830%   6/1/22 15,000    15,000
  New York Mortgage Agency Local or Guaranteed Housing Revenue VRDO 0.850%   6/1/22 15,000    15,000
1,2 New York NY GO TOB VRDO 0.810%   6/2/22  7,125     7,125
1,2 New York NY GO TOB VRDO 0.820%   6/2/22 10,300    10,300
1,2 New York NY GO TOB VRDO 0.820%   6/2/22  5,000     5,000
1,2 New York NY GO TOB VRDO 0.820%   6/7/22  4,445     4,445
1 New York NY GO VRDO 0.570%   6/1/22  4,000     4,000
  New York NY GO VRDO 0.620%   6/1/22  3,855     3,855
1,2 New York Power Authority Electric Power & Light Revenue TOB VRDO 0.820%   6/2/22  5,000     5,000
1,2 New York Power Authority Electric Power & Light Revenue TOB VRDO 0.820%   6/2/22  1,340     1,340
1,2 New York Power Authority Electric Power & Light Revenue TOB VRDO 0.820%   6/2/22  2,070     2,070
  New York State Dormitory Authority College & University Revenue 0.680%   6/2/22  9,735     9,735
1,2 New York State Dormitory Authority College & University Revenue TOB VRDO 0.700%   6/1/22 17,200    17,200
1,2 New York State Dormitory Authority College & University Revenue TOB VRDO 0.810%   6/2/22  1,600     1,600
1,2 New York State Dormitory Authority College & University Revenue TOB VRDO 0.820%   6/2/22 10,990    10,990
1,2 New York State Dormitory Authority College & University Revenue TOB VRDO 0.820%   6/7/22  4,800     4,800
  New York State Dormitory Authority College & University Revenue VRDO 0.620%   6/1/22 50,000    50,000
  New York State Dormitory Authority College & University Revenue VRDO 0.650%   6/1/22 29,845    29,845
  New York State Dormitory Authority College & University Revenue VRDO 0.720%   6/2/22  4,200     4,200
  New York State Dormitory Authority College & University Revenue VRDO 0.720%   6/2/22 11,890    11,890
1 New York State Dormitory Authority College & University Revenue VRDO 0.750%   6/2/22  5,155     5,155
1 New York State Dormitory Authority College & University Revenue VRDO 0.750%   6/2/22 15,275    15,275
1,2,4 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue TOB VRDO 0.820%   6/7/22 14,470    14,470
1,2 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue TOB VRDO 0.820%   6/7/22 23,900    23,900
1 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue VRDO 0.780%   6/1/22 19,055    19,055
1 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue VRDO 0.810%   6/2/22 13,685    13,685
1,2 New York State Dormitory Authority Income Tax Revenue TOB VRDO 0.810%   6/2/22  7,400     7,400
1,2 New York State Dormitory Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22 27,955    27,955
7

 

New York Municipal Money Market Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1,2 New York State Dormitory Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22  1,000     1,000
1,2 New York State Dormitory Authority Income Tax Revenue TOB VRDO 0.820%   6/2/22  2,500     2,500
1,2 New York State Dormitory Authority Sales Tax Revenue TOB VRDO 0.820%   6/2/22 19,505    19,505
1,2 New York State Dormitory Authority Sales Tax Revenue TOB VRDO 0.820%   6/2/22  7,500     7,500
1,2 New York State Dormitory Authority Sales Tax Revenue TOB VRDO 0.820%   6/2/22  1,800     1,800
1,2 New York State Dormitory Authority Sales Tax Revenue TOB VRDO 0.820%   6/2/22  7,500     7,500
1,2 New York State Dormitory Authority Sales Tax Revenue TOB VRDO 0.810%   6/7/22  9,570     9,570
1 New York State Energy Research & Development Authority Industrial Revenue VRDO 0.700%   6/1/22 18,000    18,000
1 New York State Energy Research & Development Authority Industrial Revenue VRDO 0.760%   6/1/22 15,100    15,100
1 New York State Energy Research & Development Authority Industrial Revenue VRDO 0.870%   6/1/22 20,000    20,000
1,2 New York State Environmental Facilities Corp. Water Revenue TOB VRDO 0.820%   6/2/22  5,305     5,305
1,2 New York State Environmental Facilities Corp. Water Revenue TOB VRDO 0.820%   6/2/22  1,750     1,750
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue 0.680%   6/1/22  7,900     7,900
1,2 New York State Housing Finance Agency Local or Guaranteed Housing Revenue TOB VRDO 0.820%   6/2/22  6,665     6,665
1,2 New York State Housing Finance Agency Local or Guaranteed Housing Revenue TOB VRDO 0.820%   6/2/22 16,765    16,765
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.700%   6/1/22  6,500     6,500
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.760%   6/1/22 50,225    50,225
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.780%   6/1/22 12,450    12,450
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.780%   6/1/22 31,045    31,045
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.800%   6/1/22 20,000    20,000
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.800%   6/1/22 10,000    10,000
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.800%   6/1/22  6,200     6,200
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.830%   6/1/22 30,000    30,000
1 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.800%   6/7/22 20,000    20,000
1,2 New York State Mortgage Agency Homeowner Mortgage Local or Guaranteed Housing Revenue TOB VRDO 0.820%   6/2/22  7,040     7,040
1,2 New York State Power Authority Electric Power & Light Revenue TOB VRDO 0.820%   6/2/22  7,785     7,785
1,2 New York State Power Authority Electric Power & Light Revenue TOB VRDO 0.820%   6/7/22  5,500     5,500
1,2 New York State Power Authority Electric Power & Light Revenue TOB VRDO 0.820%   6/7/22  2,630     2,630
1,2 New York State Thruway Authority Lease (Appropriation) Revenue TOB VRDO 0.820%   6/2/22  8,365     8,365
8

 

New York Municipal Money Market Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.810%   6/2/22 12,260    12,260
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.810%   6/2/22  8,745     8,745
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.820%   6/2/22  2,705     2,705
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.820%   6/2/22  3,400     3,400
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.820%   6/2/22  7,500     7,500
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.820%   6/2/22  3,750     3,750
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.820%   6/2/22  1,000     1,000
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.840%   6/2/22  4,530     4,530
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.840%   6/2/22 10,855    10,855
1,2 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.820%   6/7/22  6,760     6,760
1,2 New York State Urban Development Corp. Sales Tax Revenue TOB VRDO 0.820%   6/7/22  5,270     5,270
1,2 New York State Urban Development Corp. TOB VRDO 0.820%   6/2/22  6,700     6,700
1 Niagara Area Development Corp. Health, Hospital, Nursing Home Revenue VRDO 0.820%   6/1/22  4,125     4,125
  North Hempstead NY BAN GO PUT 1.500%  9/23/22 14,200    14,254
1,2 Nuveen New York AMT-Free Quality Municipal Income Fund VRDO VRDP 0.830%   6/2/22 25,600    25,600
1,2 Nuveen New York AMT-Free Quality Municipal Income Fund VRDO VRDP 0.840%   6/2/22 22,000    22,000
1,2 Nuveen New York Quality Municipal Income Fund VRDO VRDP 0.880%   6/2/22 34,800    34,800
1 Onondaga County Industrial Development Agency Health, Hospital, Nursing Home Revenue (Syracuse Home Association Project) VRDO 0.830%   6/2/22  3,810     3,810
1,2 Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO 0.810%   6/2/22  8,290     8,290
1,2 Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO 0.820%   6/2/22  2,515     2,515
1,2 Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO 0.830%   6/2/22 14,680    14,680
1,2 Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO 0.850%   6/7/22  1,665     1,665
1,2 Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO 0.890%   6/7/22  4,500     4,500
1,2 Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO 0.890%   6/7/22  3,335     3,335
1,2 Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO 0.890%   6/7/22    400       400
  Rockville Centre NY BAN GO PUT 1.000%   6/9/22  7,500     7,501
1,2 TOB Trust Recei Tengen 08/40 Adjustable Var 0.820%   6/7/22  4,260     4,260
1,2 Triborough Bridge & Tunnel Authority Highway Revenue TOB VRDO 0.820%   6/2/22  6,600     6,600
1 Triborough Bridge & Tunnel Authority Highway Revenue VRDO 0.670%   6/1/22 12,855    12,855
1 Triborough Bridge & Tunnel Authority Highway Revenue VRDO 0.670%   6/1/22 32,915    32,915
1,2 Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue TOB VRDO 0.820%   6/2/22  7,500     7,500
1,2 Triborough Bridge & Tunnel Authority New York Highway Revenue TOB VRDO 0.820%   6/2/22  6,000     6,000
9

 

New York Municipal Money Market Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1,2 Triborough Bridge & Tunnel Authority New York Highway Revenue TOB VRDO 0.840%   6/2/22 15,000    15,000
1,2 Triborough Bridge & Tunnel Authority New York Highway Revenue TOB VRDO 0.820%   6/7/22  2,600     2,600
1,2 Triborough Bridge & Tunnel Authority New York Payroll Mobility Miscellaneous Taxes Revenue TOB VRDO 0.820%   6/7/22  6,675     6,675
1,2 Triborough Bridge & Tunnel Authority New York Payroll Mobility Miscellaneous Taxes Revenue TOB VRDO 0.820%   6/7/22  2,940     2,940
1,2 Triborough Bridge & Tunnel Authority New York Payroll Mobility Miscellaneous Taxes Revenue TOB VRDO 0.820%   6/7/22  4,000     4,000
1,2 Triborough Bridge & Tunnel Authority New York Payroll Mobility Miscellaneous Taxes Revenue TOB VRDO 0.820%   6/7/22  2,665     2,665
3 Trust for Cultural Resources of New York Revenue PUT 0.940% 12/29/22  3,000     3,000
1,2 Utility Debt Securitization Authority New York Electric Power & Light Revenue TOB VRDO 0.820%   6/2/22  1,000     1,000
1,2 Utility Debt Securitization Authority New York Electric Power & Light Revenue TOB VRDO 0.820%   6/2/22  5,250     5,250
  Williamsville Central School District BAN GO PUT 1.000%   6/8/22  3,890     3,891
Total Tax-Exempt Municipal Bonds (Cost $2,071,587) 2,071,587
Total Investments (99.4%) (Cost $2,071,587) 2,071,587
Other Assets and Liabilities—Net (0.6%) 12,681
Net Assets (100%) 2,084,268
Cost is in $000.
• See Note A in Notes to Financial Statements.
1 Scheduled principal and interest payments are guaranteed by bank letter of credit.
2 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, 2022, the aggregate value was $899,675,000, representing 43.2% of net assets.
3 Variable-rate security; rate shown is effective rate at period end. Certain variable-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.
4 Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp.
  BAN—Bond Anticipation Note.
  GO—General Obligation Bond.
  PUT—Put Option Obligation.
  TOB—Tender Option Bond.
  VRDO—Variable Rate Demand Obligation.
  VRDP—Variable Rate Demand Preferred.
  
See accompanying Notes, which are an integral part of the Financial Statements.
10

 

New York Municipal Money Market Fund
Statement of Assets and Liabilities
As of May 31, 2022
($000s, except shares and per-share amounts) Amount
Assets  
Investments in Securities, at Value—Unaffiliated Issuers (Cost $2,071,587) 2,071,587
Investment in Vanguard 73
Cash 32
Receivables for Investment Securities Sold 215
Receivables for Accrued Income 1,772
Receivables for Capital Shares Issued 16,140
Other Assets 1,180
Total Assets 2,090,999
Liabilities  
Payables for Capital Shares Redeemed 6,529
Payables for Distributions 58
Payables to Vanguard 144
Total Liabilities 6,731
Net Assets 2,084,268
At May 31, 2022, net assets consisted of:  
   
Paid-in Capital 2,084,232
Total Distributable Earnings (Loss) 36
Net Assets 2,084,268
 
Net Assets  
Applicable to 2,083,926,083 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		2,084,268
Net Asset Value Per Share $1.00
  
See accompanying Notes, which are an integral part of the Financial Statements.
11

 

New York Municipal Money Market Fund
Statement of Operations
  Six Months Ended
May 31, 2022
  ($000)
Investment Income  
Income  
Interest 3,023
Total Income 3,023
Expenses  
The Vanguard Group—Note B  
Investment Advisory Services 128
Management and Administrative 1,302
Marketing and Distribution 114
Custodian Fees 7
Shareholders’ Reports 14
Trustees’ Fees and Expenses —
Other Expenses 7
Total Expenses 1,572
Expense Reduction—Note B (299)
Net Expenses 1,273
Net Investment Income 1,750
Realized Net Gain (Loss) on Investment Securities Sold 9
Net Increase (Decrease) in Net Assets Resulting from Operations 1,759
  
See accompanying Notes, which are an integral part of the Financial Statements.
12

 

New York Municipal Money Market Fund
Statement of Changes in Net Assets
  Six Months Ended
May 31,
2022 		  Year Ended
November 30,
2021
  ($000)   ($000)
Increase (Decrease) in Net Assets      
Operations      
Net Investment Income 1,750   218
Realized Net Gain (Loss) 9   10
Net Increase (Decrease) in Net Assets Resulting from Operations 1,759   228
Distributions      
Total Distributions (1,762)   (217)
Capital Share Transactions (at $1.00 per share)      
Issued 707,924   880,370
Issued in Lieu of Cash Distributions 1,641   204
Redeemed (569,762)   (1,385,809)
Net Increase (Decrease) from Capital Share Transactions 139,803   (505,235)
Total Increase (Decrease) 139,800   (505,224)
Net Assets      
Beginning of Period 1,944,468   2,449,692
End of Period 2,084,268   1,944,468
  
See accompanying Notes, which are an integral part of the Financial Statements.
13

 

New York Municipal Money Market Fund
Financial Highlights
For a Share Outstanding
Throughout Each Period  		Six Months
Ended
May 31,
2022 		Year Ended November 30,
2021 2020 2019 2018 2017
Net Asset Value, Beginning of Period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
Investment Operations            
Net Investment Income1 .0009 .0001 .006 .014 .012 .007
Net Realized and Unrealized Gain (Loss) on Investments .00002 — — — — —
Total from Investment Operations .0009 .0001 .006 .014 .012 .007
Distributions            
Dividends from Net Investment Income (.0009) (.0001) (.006) (.014) (.012) (.007)
Distributions from Realized Capital Gains (.0000)3 — — — — —
Total Distributions (.0009) (.0001) (.006) (.014) (.012) (.007)
Net Asset Value, End of Period $1.00 $1.00 $1.00 $1.00 $1.00 $1.00
Total Return4 0.09% 0.01% 0.55% 1.39% 1.24% 0.67%
Ratios/Supplemental Data            
Net Assets, End of Period (Millions) $2,084 $1,944 $2,450 $3,454 $3,214 $2,424
Ratio of Total Expenses to Average Net Assets5 0.13% 0.07% 0.16% 0.16% 0.16% 0.16%
Ratio of Net Investment Income to Average Net Assets 0.18% 0.01% 0.61% 1.38% 1.24% 0.67%
The expense ratio and net investment income ratio for the current period have been annualized.
1 Calculated based on average shares outstanding.
2 Amount was less than $.0001 per share.
3 Distribution was less than $.0001 per share.
4 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.
5 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. Vanguard and the board of trustees may terminate the temporary expense limitation at any time. The fund is not obligated to repay this amount to Vanguard. The ratio of total expenses to average net assets before an expense reduction was 0.16% for the six months ended May 31, 2022 and 0.16% for the year ended November 30, 2021. For the years ended November 30, 2020, 2019, 2018, and 2017, there were no expense reductions.
  
See accompanying Notes, which are an integral part of the Financial Statements.
14

 

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. Many municipalities insure repayment of their bonds. The insurance does not guarantee the market value of the municipal bonds. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and 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. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for 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 $4.4 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 and are 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, which 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 an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate 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
15

 

New York Municipal Money Market Fund
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, 2022, 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, 2022, the fund had contributed to Vanguard capital in the amount of $73,000, representing less than 0.01% of the fund’s net assets and 0.03% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
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. Vanguard and the board of trustees may terminate the temporary expense limitation at any time. For the six months ended May 31, 2022, Vanguard's expenses were reduced by $299,000 (an effective annual rate of 0.03% of the fund’s average net assets); the fund is not obligated to repay this amount to Vanguard.
C. 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, 2022, 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
16

 

New York Municipal Money Market Fund
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.
D. As of May 31, 2022, gross unrealized appreciation and depreciation for investments based on cost for U.S. federal income tax purposes were as follows:
  Amount
($000)
Tax Cost 2,071,587
Gross Unrealized Appreciation —
Gross Unrealized Depreciation —
Net Unrealized Appreciation (Depreciation) —
E. 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, 2022, such purchases were $169,690,000 and sales were $145,245,000, resulting in net realized gain (loss) of $0.
F. Management has determined that no events or transactions occurred subsequent to May 31, 2022, that would require recognition or disclosure in these financial statements.
17

 

New York Long-Term Tax-Exempt Fund
Distribution by Stated Maturity
As of May 31, 2022
Under 1 Year 6.7%
1 - 3 Years 2.0
3 - 5 Years 1.8
5 - 10 Years 10.9
10 - 20 Years 41.6
20 - 30 Years 29.6
Over 30 Years 7.4
The table reflects the fund’s investments, except for short-term investments and derivatives.
18

 

New York Long-Term Tax-Exempt Fund
Financial Statements (unaudited)
Schedule of Investments
As of May 31, 2022
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.
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
Tax-Exempt Municipal Bonds (99.6%)
New York (99.0%)
  Brookhaven Local Development Corp. Health, Hospital Nursing Home Revenue 3.375%  10/1/40    500       433
  Brookhaven Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  10/1/45  2,500     2,325
  Brookhaven Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  10/1/50  2,000     2,143
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/22  1,250     1,254
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/24  1,800     1,883
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/25  1,655     1,758
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/26  3,000     3,232
1 Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 4.000%  7/15/29    375       396
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/30  5,990     6,404
  Brooklyn Arena Local Development Corp. Miscellaneous Revenue (Barclays Center Project) 5.000%  7/15/42  3,210     3,374
  Brooklyn Arena Local Development Corp. Recreational Revenue (Barclays Center Project) 0.000%  7/15/31 10,890     7,414
  Brooklyn Arena Local Development Corp. Recreational Revenue (Barclays Center Project) 0.000%  7/15/32  2,100     1,364
  Brooklyn Arena Local Development Corp. Recreational Revenue (Barclays Center Project) 0.000%  7/15/33  2,595     1,606
  Brooklyn Arena Local Development Corp. Recreational Revenue (Barclays Center Project) 0.000%  7/15/35  2,490     1,403
  Brooklyn Arena Local Development Corp. Recreational Revenue (Barclays Center Project) 0.000%  7/15/45  3,180     1,106
  Brooklyn Arena Local Development Corp. Recreational Revenue (Barclays Center Project) 0.000%  7/15/46  1,580       520
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   4/1/33  2,400     2,732
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   4/1/34  1,300     1,344
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%   4/1/35  3,200     2,907
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%   4/1/36  1,100       992
19

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%   4/1/37    865       774
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   4/1/38  1,600     1,634
  Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/41  1,530     1,422
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%   4/1/45  2,865     2,354
  Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   1/1/47  1,160     1,036
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%   4/1/50  3,000     2,381
1 Broome County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   4/1/50  5,080     5,045
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital Nursing Home Revenue 4.000%   7/1/45  1,890     1,583
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/24  1,395     1,469
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/25  2,170     2,256
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/25  1,590     1,702
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/30  1,155     1,183
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue 5.250%   7/1/35  3,710     3,823
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue 5.000% 11/15/37  5,515     5,736
  Buffalo & Erie County Industrial Land Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/40  7,870     7,901
  Buffalo & Fort Erie Public Bridge Authority Highway Revenue 5.000%   1/1/42  1,380     1,514
  Buffalo & Fort Erie Public Bridge Authority Highway Revenue 5.000%   1/1/47  4,635     5,086
  Buffalo Municipal Water Finance Authority Water Revenue 5.000%   7/1/25    630       680
1 Buffalo Municipal Water Finance Authority Water Revenue 3.000%   7/1/35     15        15
2 Buffalo Sewer Authority Sewer Revenue 5.000%  6/15/30    155       178
2 Buffalo Sewer Authority Sewer Revenue 5.000%  6/15/31    175       201
2 Buffalo Sewer Authority Sewer Revenue 5.000%  6/15/32    165       189
2 Buffalo Sewer Authority Sewer Revenue 5.000%  6/15/33    175       200
2 Buffalo Sewer Authority Sewer Revenue 4.000%  6/15/34    175       181
2 Buffalo Sewer Authority Sewer Revenue 4.000%  6/15/36    265       271
2 Buffalo Sewer Authority Sewer Revenue 4.000%  6/15/51    750       757
  Build NYC Resource Corp. Charter School Aid Revenue 4.000%  6/15/31    100        99
  Build NYC Resource Corp. Charter School Aid Revenue 4.000%  6/15/31    650       626
  Build NYC Resource Corp. Charter School Aid Revenue 4.000%  6/15/36    400       386
  Build NYC Resource Corp. Charter School Aid Revenue 4.000%  6/15/41  2,675     2,416
  Build NYC Resource Corp. Charter School Aid Revenue 4.000%  6/15/51  4,030     3,427
  Build NYC Resource Corp. Charter School Aid Revenue 4.000%  6/15/56  1,835     1,526
3 Build NYC Resource Corp. Charter School Aid Revenue (Richmond Preparatory Charter School Project) 4.000%   6/1/31  1,300     1,256
3 Build NYC Resource Corp. Charter School Aid Revenue (Richmond Preparatory Charter School Project) 5.000%   6/1/36    565       582
3 Build NYC Resource Corp. Charter School Aid Revenue (Richmond Preparatory Charter School Project) 5.000%   6/1/41    600       615
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/27    200       210
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/28    270       283
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/29    225       235
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/30    310       324
20

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/32    660       689
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/33    730       761
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/34    580       604
  Build NYC Resource Corp. College & University Revenue 5.000%   6/1/38  1,365     1,417
  Build NYC Resource Corp. College & University Revenue (New York Law School Project) 5.000%   7/1/22  3,010     3,018
  Build NYC Resource Corp. College & University Revenue (New York Law School Project) 5.000%   7/1/29  1,890     1,971
  Build NYC Resource Corp. College & University Revenue (New York Law School Project) 5.000%   7/1/36  5,000     5,157
  Build NYC Resource Corp. College & University Revenue (New York Law School Project) 5.000%   7/1/41  3,000     3,083
  Build NYC Resource Corp. College & University Revenue (New York Law School Project) 4.000%   7/1/45    185       171
3 Build NYC Resource Corp. Economic Development Revenue 5.000%  12/1/39  2,465     2,325
3 Build NYC Resource Corp. Economic Development Revenue 5.000%  12/1/49  3,410     3,072
  Build NYC Resource Corp. Health, Hospital, Nursing Home Revenue (NY Methodist Hospital Project), ETM 5.000%   7/1/23  1,525     1,579
  Build NYC Resource Corp. Health, Hospital, Nursing Home Revenue (NY Methodist Hospital Project), Prere. 5.000%   7/1/24  1,325     1,407
  Build NYC Resource Corp. Health, Hospital, Nursing Home Revenue (NY Methodist Hospital Project), Prere. 5.000%   7/1/24  1,000     1,062
  Build NYC Resource Corp. Miscellaneous Revenue 5.000%   6/1/24    750       789
  Build NYC Resource Corp. Miscellaneous Revenue 5.000%   7/1/25    100       108
  Build NYC Resource Corp. Miscellaneous Revenue 5.000%   7/1/26     85        93
  Build NYC Resource Corp. Miscellaneous Revenue 5.000%   7/1/27     75        84
  Build NYC Resource Corp. Miscellaneous Revenue 5.000%   7/1/35    130       150
  Build NYC Resource Corp. Miscellaneous Revenue 4.000%   7/1/36    130       133
  Build NYC Resource Corp. Miscellaneous Revenue 4.000%   7/1/37    165       168
  Build NYC Resource Corp. Miscellaneous Revenue 4.000%   7/1/38    150       152
  Build NYC Resource Corp. Miscellaneous Revenue 3.000%   7/1/39    550       511
  Build NYC Resource Corp. Miscellaneous Revenue 4.000%   7/1/44    975       981
  Build NYC Resource Corp. Miscellaneous Revenue 4.000%   7/1/49  1,400     1,405
  Build NYC Resource Corp. Miscellaneous Revenue (YMCA of Greater NY Project), Prere. 4.000%   8/1/25  1,230     1,300
  Build NYC Resource Corp. Miscellaneous Revenue (YMCA of Greater NY Project), Prere. 5.000%   8/1/25    500       544
  Build NYC Resource Corp. Miscellaneous Revenue (YMCA of Greater NY Project), Prere. 5.000%   8/1/25  1,000     1,087
3 Build NYC Resource Corp. Private Schools Revenue (Shefa School Project) 2.500%  6/15/31  1,455     1,275
3 Build NYC Resource Corp. Private Schools Revenue (Shefa School Project) 5.000%  6/15/51  4,765     4,905
  Copiague Union Free School District GO 3.000%  2/15/33  1,005       960
  Dobbs Ferry Local Development Corp. College & University Revenue (Mercy College Project) 5.000%   7/1/39  3,120     3,206
  Dobbs Ferry Local Development Corp. College & University Revenue (Mercy College Project) 5.000%   7/1/44  2,635     2,696
  Dutchess County Local Development Corp. College & University Revenue 5.000%   7/1/29    250       272
  Dutchess County Local Development Corp. College & University Revenue 5.000%   7/1/30    220       238
  Dutchess County Local Development Corp. College & University Revenue 5.000%   7/1/31  1,170     1,259
  Dutchess County Local Development Corp. College & University Revenue 5.000%   7/1/32    450       483
  Dutchess County Local Development Corp. College & University Revenue 5.000%   7/1/33    250       268
21

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Dutchess County Local Development Corp. College & University Revenue 5.000%   7/1/34  1,390     1,486
3 Dutchess County Local Development Corp. College & University Revenue (Bard College Project) 5.000%   7/1/40  1,000     1,053
3 Dutchess County Local Development Corp. College & University Revenue (Bard College Project) 5.000%   7/1/45  2,000     2,086
3 Dutchess County Local Development Corp. College & University Revenue (Bard College Project) 5.000%   7/1/51  2,750     2,852
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/25    500       529
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/26    300       322
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/27    805       863
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/28    950     1,014
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/29    500       532
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/30    380       403
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/31    575       608
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/32    240       253
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/33    200       211
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/36    145       152
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/41    815       850
  Dutchess County Local Development Corp. College & University Revenue (Culinary Institute of America Project) 5.000%   7/1/46    600       623
  Dutchess County Local Development Corp. College & University Revenue (Marist College Project) 5.000%   7/1/40  1,470     1,540
  Dutchess County Local Development Corp. College & University Revenue (Marist College Project) 5.000%   7/1/45  1,415     1,473
  Dutchess County Local Development Corp. College & University Revenue (Marist College Project) 5.000%   7/1/48    100       107
  Dutchess County Local Development Corp. College & University Revenue (Vassar College Project) 5.000%   7/1/33    565       619
  Dutchess County Local Development Corp. College & University Revenue (Vassar College Project) 5.000%   7/1/34    275       301
  Dutchess County Local Development Corp. College & University Revenue (Vassar College Project) 5.000%   7/1/35  1,200     1,313
  Dutchess County Local Development Corp. College & University Revenue (Vassar College Project) 5.000%   7/1/37  1,000     1,092
  Dutchess County Local Development Corp. College & University Revenue (Vassar College Project) 5.000%   7/1/42  7,250     7,875
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28  2,000     2,143
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28  1,505     1,613
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29  1,595     1,702
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/34  2,305     2,319
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/35  1,185     1,185
22

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%   7/1/36    650       586
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/37  1,540     1,541
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/38  1,055     1,056
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/41  2,360     2,356
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/44  3,810     3,767
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/49  6,600     6,473
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/24    655       695
  Dutchess County Local Development Corp. Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/24  2,000     2,123
  Erie County Fiscal Stability Authority Sales Tax Revenue 4.000%   9/1/33    600       618
  Genesee County Funding Corp. Health, Hospital, Nursing Home Revenue 5.250%  12/1/52  9,375    10,107
1 Haverstraw-Stony Point Central School District GO 5.000% 10/15/33    300       314
1 Haverstraw-Stony Point Central School District GO 5.000% 10/15/36  1,000     1,045
  Hempstead Town Local Development Corp. College & University Revenue (Adelphi University Project) 5.000%   6/1/29    400       451
  Hempstead Town Local Development Corp. College & University Revenue (Adelphi University Project) 5.000%   6/1/30    200       227
  Hempstead Town Local Development Corp. College & University Revenue (Adelphi University Project) 5.000%   6/1/32    250       286
  Hempstead Town Local Development Corp. College & University Revenue (Hofstra University Project) 3.000%   7/1/51  4,500     3,582
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/26    700       751
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/27  1,740     1,888
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/29  2,170     2,252
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/30    670       717
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/32    370       394
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/34  1,800     1,855
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/37    630       667
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/38    480       508
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/38    870       929
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/39  1,645     1,689
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/43  1,025     1,087
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/44  1,670     1,711
  Hempstead Town Local Development Corp. College & University Revenue (Molloy College Project) 5.000%   7/1/48  1,100     1,160
3,4 Hempstead Town New York Local Development Corp. College & University Revenue TOB VRDO 0.830%   6/2/22  2,865     2,865
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/34 14,000    15,320
23

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/36  5,545     6,019
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 4.000%  2/15/37  3,000     3,128
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/37  3,600     3,892
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/39  4,500     4,835
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/42 14,900    15,955
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 4.000%  2/15/43 17,405    17,882
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 4.000%  2/15/44  4,000     4,101
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 5.000%  2/15/45  8,000     8,536
  Hudson Yards Infrastructure Corp. Miscellaneous Revenue 2.750%  2/15/47  4,000     3,234
  Jefferson County Civic Facility Development Corp. Health, Hospital Nursing Home Revenue (Samaritan Medical Center Project) 4.000%  11/1/47  1,875     1,746
  Jefferson County Civic Facility Development Corp. Health, Hospital, Nursing Home Revenue (Samaritan Medical Center Project) 4.000%  11/1/22    755       762
  Johnstown City School District GO 3.000%  6/15/33  1,935     1,890
1 Long Island Power Authority Electric Power & Light Revenue 0.000%   6/1/24 19,830    18,953
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/26  1,000     1,087
1 Long Island Power Authority Electric Power & Light Revenue 0.000%   6/1/27 15,905    13,950
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/29  1,000     1,125
  Long Island Power Authority Electric Power & Light Revenue 4.000%   9/1/33  4,885     5,245
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/33    750       836
  Long Island Power Authority Electric Power & Light Revenue 4.000%   9/1/34  7,550     7,886
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/34  1,050     1,168
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/35  1,500     1,666
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/36  2,000     2,182
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/36  2,285     2,564
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/37  2,150     2,409
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/38  2,150     2,405
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/41  2,500     2,716
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/42  7,500     8,277
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/44  7,000     7,292
  Long Island Power Authority Electric Power & Light Revenue 5.000%   9/1/46  3,500     3,787
  Long Island Power Authority Electric Power & Light Revenue PUT 1.650%   9/1/24  5,250     5,159
  Long Island Power Authority Electric Power & Light Revenue PUT 0.850%   9/1/25  4,200     3,956
  Long Island Power Authority Electric Power & Light Revenue PUT 1.500%   9/1/26  5,000     4,758
  Long Island Power Authority Electric Power & Light Revenue, Prere. 5.000%   9/1/22  2,050     2,069
  Long Island Power Authority Electric Power & Light Revenue, Prere. 5.000%   9/1/22  2,535     2,559
  Madison County Capital Resource Corp. College & University Revenue 5.000%   7/1/40  1,495     1,579
  Madison County Capital Resource Corp. College & University Revenue 5.000%   7/1/43  6,000     6,313
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 4.000% 11/15/26    410       440
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/26    870       970
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/27     25        27
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.250% 11/15/27     40        44
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.250% 11/15/31  2,730     2,974
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/32     75        81
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.250% 11/15/32  2,600     2,827
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 3.125% 11/15/33  1,045     1,018
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 4.000% 11/15/33 10,100    10,418
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 3.500% 11/15/34  1,000     1,002
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 4.000% 11/15/34    500       514
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/34  1,770     1,883
24

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/34    160       171
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.250% 11/15/34  1,055     1,138
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.250% 11/15/35    320       344
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/36    610       646
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/36    675       720
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.250% 11/15/36  5,000     5,350
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/42    165       174
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/46  5,000     5,253
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/47  6,000     6,324
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.000% 11/15/47  5,075     5,361
  Metropolitan Transportation Authority Fuel Sales Tax Revenue 5.250% 11/15/57  5,865     6,324
  Metropolitan Transportation Authority Miscellaneous Taxes Revenue 0.000% 11/15/30 11,095     8,544
  Metropolitan Transportation Authority Miscellaneous Taxes Revenue 0.000% 11/15/32  1,210       857
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/24  2,935     3,103
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/25  1,970     2,114
  Metropolitan Transportation Authority Transit Revenue 0.000% 11/15/27  2,240     1,900
  Metropolitan Transportation Authority Transit Revenue 3.500% 11/15/27    125       125
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/28  7,225     7,708
  Metropolitan Transportation Authority Transit Revenue 0.000% 11/15/29  6,695     5,252
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/29  3,865     4,110
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/29  1,000     1,079
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/29  1,890     2,039
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/30  3,000     3,223
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/31  1,015     1,086
  Metropolitan Transportation Authority Transit Revenue 0.000% 11/15/32    500       344
  Metropolitan Transportation Authority Transit Revenue 3.500% 11/15/32    370       357
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/32  7,500     7,683
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/32  5,050     5,282
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/32  1,000     1,046
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/32    885       931
  Metropolitan Transportation Authority Transit Revenue 0.000% 11/15/33    500       329
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/33     90        90
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/33    505       539
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/33  2,500     2,738
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/33    150       157
  Metropolitan Transportation Authority Transit Revenue 5.250% 11/15/33    200       208
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/34    200       209
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/35  3,800     3,797
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/35  3,505     3,660
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/35  3,060     3,193
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/35  4,020     4,194
  Metropolitan Transportation Authority Transit Revenue 3.250% 11/15/36  1,745     1,578
  Metropolitan Transportation Authority Transit Revenue 3.375% 11/15/37    110       100
  Metropolitan Transportation Authority Transit Revenue 5.250% 11/15/37  5,000     5,211
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/38  6,020     6,152
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/39    550       589
  Metropolitan Transportation Authority Transit Revenue 5.250% 11/15/39  3,655     3,789
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/40  5,000     4,954
  Metropolitan Transportation Authority Transit Revenue 3.500% 11/15/41    805       725
  Metropolitan Transportation Authority Transit Revenue 4.250% 11/15/42    210       210
1 Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/43  2,530     2,478
  Metropolitan Transportation Authority Transit Revenue 4.750% 11/15/45  2,585     2,655
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/45    615       630
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/48  2,000     1,935
25

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/49  3,000     2,895
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/49  1,120     1,084
  Metropolitan Transportation Authority Transit Revenue 4.000% 11/15/51  4,000     3,843
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/51  1,500     1,587
  Metropolitan Transportation Authority Transit Revenue 5.250% 11/15/55  2,535     2,625
  Metropolitan Transportation Authority Transit Revenue 5.250% 11/15/55  9,770    10,546
  Metropolitan Transportation Authority Transit Revenue 5.000% 11/15/56  2,000     2,061
  Metropolitan Transportation Authority Transit Revenue 5.250% 11/15/57  4,000     4,302
  Metropolitan Transportation Authority Transit Revenue PUT 5.000% 11/15/24 12,500    13,153
1,3,4 Metropolitan Transportation Authority Transit Revenue TOB VRDO 0.890%   6/2/22  2,975     2,975
1,3,4 Metropolitan Transportation Authority Transit Revenue TOB VRDO 0.910%   6/2/22 10,670    10,670
  Metropolitan Transportation Authority Transit Revenue, Prere. 5.000% 11/15/22  1,160     1,180
  Metropolitan Transportation Authority Transit Revenue, Prere. 5.000% 11/15/22  3,325     3,381
  Metropolitan Transportation Authority Transit Revenue, Prere. 5.000% 11/15/22  3,070     3,122
  Metropolitan Transportation Authority Transit Revenue, Prere. 5.000% 11/15/22  1,925     1,958
  Metropolitan Transportation Authority Transit Revenue, Prere. 5.000%  5/15/23  2,050     2,118
3 Monroe County NY Industrial Development Corp. Charter School Aid Revenue 5.000%   6/1/50  1,260     1,297
3 Monroe County NY Industrial Development Corp. Charter School Aid Revenue 5.000%   6/1/59  1,080     1,105
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%  10/1/22    340       343
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%  10/1/23    470       486
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%   7/1/29  1,250     1,345
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%   7/1/31  1,000     1,070
  Monroe County NY Industrial Development Corp. College & University Revenue 4.000%   7/1/32  1,780     1,839
  Monroe County NY Industrial Development Corp. College & University Revenue 4.000%   7/1/32  1,295     1,338
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%   7/1/32  1,640     1,751
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%  10/1/32    600       640
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%   7/1/33  1,400     1,493
  Monroe County NY Industrial Development Corp. College & University Revenue 4.000%   7/1/36  1,000     1,015
  Monroe County NY Industrial Development Corp. College & University Revenue 4.000%   7/1/36    900       914
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%   7/1/37  1,000     1,062
  Monroe County NY Industrial Development Corp. College & University Revenue 5.500%   6/1/39  1,500     1,554
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%   6/1/44  2,500     2,556
  Monroe County NY Industrial Development Corp. College & University Revenue 5.000%   7/1/45  4,030     4,227
  Monroe County NY Industrial Development Corp. College & University Revenue 4.000%  10/1/47  1,300     1,259
  Monroe County NY Industrial Development Corp. College & University Revenue (University of Rochester Project) 5.000%   7/1/31  2,000     2,201
  Monroe County NY Industrial Development Corp. College & University Revenue (University of Rochester Project) 5.000%   7/1/36  1,000     1,094
  Monroe County NY Industrial Development Corp. College & University Revenue (University of Rochester Project) 4.000%   7/1/50 14,035    14,043
26

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/27  1,550     1,682
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/29  1,000     1,072
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/32  4,200     4,571
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 3.750%  12/1/33    300       301
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/33  1,000     1,086
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/34  1,100     1,163
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/34  2,510     2,721
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/35  1,100     1,099
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/35  1,055     1,114
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/36  3,200     3,205
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/36  1,215     1,283
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 3.000%  12/1/37  2,195     1,859
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/37  2,600     2,617
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/38  1,000       998
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 3.000%  12/1/40  1,000       798
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/42  5,635     5,660
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/46  7,890     7,521
  Monroe County NY Industrial Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/46  5,000     5,227
  Mount Vernon NY City School District GO 4.000%  12/1/32  2,480     2,602
  Mount Vernon NY City School District GO 4.000%  12/1/33  2,370     2,477
  MTA Hudson Rail Yards Trust Obligations Lease Revenue 5.000% 11/15/56 22,000    22,668
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/22  2,620     2,628
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/23  1,235     1,278
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/23    690       714
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/24    925       971
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/24    125       131
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/25  1,900     1,988
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/27  8,765     8,784
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28  1,500     1,561
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28  1,690     1,759
27

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29  1,565     1,626
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/30  1,750     1,813
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/31  2,000     2,004
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/31  1,000     1,034
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 4.000%   7/1/32    425       425
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/34  2,220     2,284
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/37  1,050     1,052
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/22  4,000     4,013
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/22  1,535     1,540
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/22  3,025     3,035
  Nassau County Local Economic Assistance Corp. Health, Hospital, Nursing Home Revenue, Prere. 5.000%   7/1/22  8,245     8,271
  Nassau County NY GO, Prere. 5.000%   4/1/24  1,740     1,838
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/22    270       271
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/25    325       344
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/26    335       355
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/27    425       450
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/28    375       396
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/33  1,135     1,185
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/35  1,000     1,042
  New Rochelle NY College & University Revenue (IONA College Project) 5.000%   7/1/45  2,230     2,302
  New York City Educational Construction Fund Lease (Non-Terminable) Revenue 5.000%   4/1/41  2,245     2,497
  New York City Educational Construction Fund Lease Revenue 5.000%   4/1/36  3,100     3,504
  New York City Educational Construction Fund Lease Revenue 5.000%   4/1/37  2,850     3,215
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/29    405       460
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/30    580       665
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/31    610       705
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/32    650       734
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/33    675       761
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/34    500       562
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/35    500       561
28

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/36    525       588
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 5.000%  2/15/37    335       375
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 3.000%  2/15/45  1,500     1,320
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 4.000%  2/15/45    890       904
  New York City Health and Hospitals Corp. Health, Hospital, Nursing Home Revenue 4.000%  2/15/48    640       648
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.800%   5/1/28  1,990     1,957
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.850%  11/1/28  3,140     3,087
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.900%   5/1/29  3,420     3,361
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.950%  11/1/29  1,640     1,612
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.100%   5/1/30  1,280     1,267
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.125%  11/1/30  1,965     1,944
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.700%  11/1/30  3,000     3,021
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.150%   5/1/31  1,305     1,285
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.750%  11/1/31  1,245     1,183
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.400%  11/1/33    545       543
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.600%  11/1/33  3,780     3,790
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.100%  11/1/36  2,000     1,656
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.000%  11/1/39  5,000     4,640
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.400%   8/1/40  1,200       977
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.250%  11/1/41    500       388
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.250%  11/1/41  2,000     1,565
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 4.250%  11/1/43 10,000    10,131
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.000%  11/1/44 12,070    10,429
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.400%  11/1/46  2,000     1,507
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.600%  11/1/46  4,000     3,079
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.900%  11/1/48  3,880     3,776
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.950%  11/1/48  7,425     7,286
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 4.050%  11/1/48  4,040     4,030
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.650%  11/1/49  3,210     2,959
29

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.950%  11/1/49  3,365     3,267
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.800%   2/1/50  9,135     7,115
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.450%   5/1/50  3,800     3,339
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.650%  11/1/50  4,300     3,229
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.750%   2/1/51  9,930     7,648
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.750%   5/1/51  3,000     2,291
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.250%   8/1/51  7,000     6,042
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.500%  11/1/51  1,000       719
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.500%  11/1/51  1,000       734
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.150%  11/1/54  2,625     2,173
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue 3.750%  11/1/54  2,505     2,320
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.700%  11/1/55  2,500     1,838
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.600%  11/1/56  2,000     1,459
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.800%  11/1/60  2,500     1,829
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue 2.700%   5/1/61  2,000     1,468
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 0.600%   7/1/25  3,000     2,791
5 New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 0.900%   1/1/26  4,625     4,296
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 2.950%   2/1/26  5,050     5,104
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue PUT 2.950%   2/1/26  7,000     7,074
3,4 New York City Housing Development Corp. Local or Guaranteed Housing Revenue TOB VRDO 0.850%   6/2/22  2,770     2,770
  New York City Housing Development Corp. Local or Guaranteed Housing Revenue, ETM 5.000%   7/1/23  1,000     1,037
1 New York City Industrial Development Agency Miscellaneous Revenue 5.000%   1/1/31  3,630     4,084
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/33  4,610     4,366
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/34  2,255     2,096
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/35    705       645
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/36    750       681
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/37  5,975     5,335
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/39  2,500     2,222
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/40  1,375     1,215
30

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
1 New York City Industrial Development Agency Miscellaneous Revenue 3.000%   1/1/46  7,510     6,329
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 5.000%   3/1/30    750       838
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 3.000%   3/1/36  2,250     2,061
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 2.500%   3/1/37    455       375
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 3.000%   3/1/38  4,000     3,592
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 3.000%   3/1/39  2,565     2,281
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 3.000%   3/1/40  2,000     1,759
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 4.000%   3/1/45  3,980     3,959
  New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 4.000%   3/1/45  4,350     4,202
1 New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 3.000%   3/1/49  7,050     5,556
  New York City Industrial Development Agency Miscellaneous Revenue (Yankee Stadium Project) PILOT 3.000%   3/1/49 17,250    13,141
6 New York City Industrial Development Agency Private Schools Revenue (Stars-Churchill School Center Project) 2.250%  10/1/29  1,130     1,054
6 New York City Industrial Development Agency Recreational Revenue PILOT 0.000%   3/1/34  5,285     3,414
6 New York City Industrial Development Agency Recreational Revenue PILOT 0.000%   3/1/35  4,450     2,748
6 New York City Industrial Development Agency Recreational Revenue PILOT 0.000%   3/1/40    595       288
6 New York City Industrial Development Agency Recreational Revenue PILOT 0.000%   3/1/41    660       303
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/37 11,150    11,490
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/37  4,965     5,318
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/37 10,000    11,013
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/38 10,000    10,988
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/39 10,040    10,723
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/39  5,915     6,317
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/39  7,500     8,010
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/40  3,900     4,397
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/41  7,500     7,746
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/41  6,010     6,219
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/41 10,000    10,368
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/41  2,685     3,068
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/42  5,340     5,536
  New York City Municipal Water Finance Authority Water Revenue 3.000%  6/15/44  5,000     4,439
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/45  9,180     9,523
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/45  3,000     3,117
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/45 11,250    12,331
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/46 15,000    16,348
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/47  1,000     1,084
  New York City Municipal Water Finance Authority Water Revenue 3.500%  6/15/48  1,000       964
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/48  3,000     3,264
  New York City Municipal Water Finance Authority Water Revenue 5.000%  6/15/49  6,570     7,315
  New York City Municipal Water Finance Authority Water Revenue 3.000%  6/15/50  1,200     1,027
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/50  6,000     6,201
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/50  6,000     6,191
31

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York City Municipal Water Finance Authority Water Revenue 3.000%  6/15/51  2,000     1,703
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/51  3,500     3,622
  New York City Municipal Water Finance Authority Water Revenue 4.000%  6/15/51 16,500    17,077
  New York City Municipal Water Finance Authority Water Revenue VRDO 0.650%   6/1/22  8,920     8,920
  New York City Municipal Water Finance Sewer Revenue VRDO 0.600%   6/1/22  2,400     2,400
  New York City Municipal Water Finance Water Revenue VRDO 0.620%   6/1/22  7,200     7,200
  New York City Municipal Water Finance Water Revenue VRDO 0.650%   6/1/22  5,600     5,600
  New York City Municipal Water Finance Water Revenue VRDO 0.810%   6/2/22  9,700     9,700
3,4 New York City NY GO TOB VRDO 0.670%   6/1/22  2,900     2,900
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/31  2,820     3,211
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/32  2,715     3,036
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/34  4,000     4,224
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/34  2,500     2,653
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/35  6,750     7,117
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/36  3,100     3,204
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/36  5,000     5,537
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/36  3,620     3,831
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/37  5,000     5,258
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 3.000%  7/15/38  2,500     2,276
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 3.000%  7/15/39  3,000     2,706
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/40  7,315     7,694
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 5.000%  7/15/41  2,225     2,337
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/42  7,255     7,500
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/43  5,000     5,157
  New York City Transitional Finance Authority Building Aid Appropriations Revenue 4.000%  7/15/45  5,000     5,129
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/32  1,910     2,167
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/33  2,500     2,817
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/34  3,000     3,357
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 4.000%  7/15/36  3,520     3,655
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/36  5,000     5,253
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/37  8,000     8,847
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/37    575       636
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/38  3,000     3,310
32

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/40 11,655    12,181
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 3.000%   8/1/41  2,000     1,793
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/43 10,965    12,002
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/43  2,930     3,207
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/43  1,520     1,582
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 5.000%  7/15/43  1,410     1,513
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 3.500%  7/15/47  7,510     7,142
  New York City Transitional Finance Authority Building Aid Income Tax Revenue 3.000%   8/1/48  8,775     7,585
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/32    300       333
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/32  5,370     5,800
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/32  3,000     3,484
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/33 10,275    11,029
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/33  9,500    10,245
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/33  1,000     1,172
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/33  2,000     2,378
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/34  2,000     2,215
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/34  3,880     4,033
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/34  5,000     5,324
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/34  5,000     5,927
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/35  5,500     6,039
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   8/1/35  3,600     3,722
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/35  2,750     3,048
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/35  2,010     2,117
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/36  2,500     2,630
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/36  2,000     2,160
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   8/1/36  5,000     5,188
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/37  1,250     1,311
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/37  9,495    10,636
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   8/1/37  4,970     5,149
33

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/37  5,000     5,334
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%  11/1/37  2,500     2,312
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/38  1,090     1,147
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   8/1/38 10,000    10,810
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/38  3,000     3,139
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/39  6,105     7,101
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/39  2,730     2,851
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/39  4,965     5,430
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/39  3,000     3,311
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/40  4,790     5,124
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/40  2,600     2,709
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/40  4,000     4,293
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   5/1/40  9,340    10,260
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/40  2,305     2,393
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/40  3,000     3,307
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%  11/1/41  3,000     3,303
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/42  3,465     3,598
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/43  7,500     8,114
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/43  3,000     3,084
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   5/1/45  4,000     4,128
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%  11/1/45  1,675     1,724
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/46  2,500     2,579
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 3.000%   5/1/46  6,000     5,215
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/47  5,000     5,714
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/51  3,735     3,845
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 4.000%   2/1/51  1,190     1,225
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue 5.000%   2/1/51  4,850     5,521
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue VRDO 0.620%   6/1/22 27,485    27,485
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue VRDO 0.620%   6/1/22 25,005    25,005
34

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York City Transitional Finance Authority Future Tax Secured Income Tax Revenue VRDO 0.670%   6/1/22  1,810     1,810
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/25    610       665
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/26    275       306
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/27    525       593
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/28    385       440
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/29    350       405
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/30    400       464
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/31  1,020     1,182
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/31  2,000     2,312
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/32    350       405
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/32  2,250     2,597
  New York City Trust for Cultural Resources Miscellaneous Revenue 4.000%  12/1/33  4,000     4,213
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/33    450       520
  New York City Trust for Cultural Resources Miscellaneous Revenue 4.000%  12/1/34  2,000     2,092
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/34    400       462
  New York City Trust for Cultural Resources Miscellaneous Revenue 4.000%  12/1/35  3,100     3,220
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/35    500       576
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/36    900     1,034
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/37  2,255     2,589
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/38  2,070     2,371
  New York City Trust for Cultural Resources Miscellaneous Revenue 5.000%  12/1/39    605       691
3,4 New York City Trust for Cultural Resources Miscellaneous Revenue TOB VRDO 0.870%   6/2/22  5,335     5,335
  New York City Trust for Cultural Resources Miscellaneous Revenue, Prere. 5.000%   8/1/23  4,000     4,157
  New York City Water & Sewer System Sewer Revenue VRDO 0.670%   6/1/22  2,700     2,700
  New York City Water & Sewer System Water Revenue 5.000%  6/15/32  3,000     3,266
  New York City Water & Sewer System Water Revenue 5.000%  6/15/34  3,000     3,260
  New York City Water & Sewer System Water Revenue 5.000%  6/15/36  7,500     8,270
  New York City Water & Sewer System Water Revenue 5.000%  6/15/36  3,000     3,249
  New York City Water & Sewer System Water Revenue 5.000%  6/15/37  2,500     2,678
  New York City Water & Sewer System Water Revenue 4.000%  6/15/40  1,300     1,347
  New York City Water & Sewer System Water Revenue 4.000%  6/15/41  4,740     4,914
  New York City Water & Sewer System Water Revenue 5.000%  6/15/46  9,000     9,572
  New York City Water & Sewer System Water Revenue 5.000%  6/15/47  4,500     4,688
  New York City Water & Sewer System Water Revenue 5.000%  6/15/49  9,825    10,750
  New York City Water & Sewer System Water Revenue 4.000%  6/15/52  1,000     1,036
35

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
3,4 New York City Water & Sewer System Water Revenue TOB VRDO 0.820%   6/2/22  1,000     1,000
  New York City Water & Sewer System Water Revenue VRDO 0.620%   6/1/22    700       700
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/22    500       508
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/33  4,655     5,045
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 4.000% 11/15/40    250       252
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/40 16,005    17,218
2 New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 0.000% 11/15/41  6,000     2,514
1 New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 0.000% 11/15/44 11,075     3,957
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/45  5,580     5,967
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 5.000% 11/15/46 13,640    14,531
  New York Convention Center Development Corp. Hotel Occupancy Tax Revenue 0.000% 11/15/51 11,365     2,636
  New York Counties Tobacco Trust VI Tobacco Settlement Funded Revenue 5.625%   6/1/35  7,355     7,633
  New York Counties Tobacco Trust VI Tobacco Settlement Funded Revenue 2.450%   6/1/42    735       709
  New York Liberty Development Corp. Economic Development Revenue (World Trade Center Project) 3.000%  9/15/43  3,000     2,663
  New York Liberty Development Corp. Economic Development Revenue (World Trade Center Project) 3.125%  9/15/50 12,000    10,369
  New York Liberty Development Corp. Economic Development Revenue (World Trade Center Project) 3.250%  9/15/52  3,375     2,948
  New York Liberty Development Corp. Economic Development Revenue (World Trade Center Project) 3.500%  9/15/52  2,025     1,807
  New York Liberty Development Corp. Industrial Revenue 5.500%  10/1/37 10,806    13,197
7 New York Liberty Development Corp. Industrial Revenue 2.450%  9/15/69 22,325    21,277
  New York Liberty Development Corp. Industrial Revenue 2.625%  9/15/69  9,885     9,189
  New York Liberty Development Corp. Industrial Revenue 2.800%  9/15/69 15,615    14,603
  New York Liberty Development Corp. Intergovernmental Agreement Revenue 2.250%  2/15/41  6,175     4,713
  New York Liberty Development Corp. Intergovernmental Agreement Revenue 3.000%  2/15/42  5,500     4,783
1 New York Liberty Development Corp. Intergovernmental Agreement Revenue 3.000%  2/15/42  4,925     4,320
  New York Liberty Development Corp. Intergovernmental Agreement Revenue 4.000%  2/15/43     50        51
  New York Liberty Development Corp. Intergovernmental Agreement Revenue 2.750%  2/15/44 14,750    11,959
  New York Liberty Development Corp. Lease (Appropriation) Revenue 2.300% 11/15/34  3,000     2,503
  New York Liberty Development Corp. Lease (Appropriation) Revenue 2.400% 11/15/35  3,750     3,139
  New York Liberty Development Corp. Lease (Appropriation) Revenue 2.500% 11/15/36  3,000     2,524
  New York Liberty Development Corp. Lease (Appropriation) Revenue 2.750% 11/15/41 18,450    15,348
  New York Liberty Development Corp. Lease (Appropriation) Revenue 2.875% 11/15/46 15,000    12,189
  New York Liberty Development Corp. Lease (Appropriation) Revenue 3.000% 11/15/51 22,250    18,050
36

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
2 New York Liberty Development Corp. Lease (Appropriation) Revenue 3.000% 11/15/51  1,500     1,229
  New York Liberty Development Corp. Miscellaneous Revenue 5.250%  10/1/35 60,000    70,845
  New York Mortgage Agency Local or Guaranteed Housing Revenue 3.750%  10/1/43  3,150     3,155
  New York Mortgage Agency Local or Guaranteed Housing Revenue 2.700%  10/1/47  3,500     2,802
  New York Mortgage Agency Local or Guaranteed Housing Revenue 3.800%  10/1/48  7,435     7,446
  New York NY GO 5.000%   8/1/22  2,535     2,551
  New York NY GO 5.000%   8/1/26  3,140     3,426
  New York NY GO 5.000%   8/1/26  3,875     4,313
  New York NY GO 5.000%   1/1/27  3,500     3,921
  New York NY GO 5.000%   9/1/27  3,805     4,314
  New York NY GO 5.000%   8/1/28  2,320     2,637
  New York NY GO 5.000%   8/1/29  5,070     5,560
  New York NY GO 5.000%   8/1/29  3,515     3,820
  New York NY GO 5.000%   8/1/29  5,195     5,881
  New York NY GO 5.000%   8/1/29  3,000     3,486
  New York NY GO 5.000%   8/1/30  5,050     5,530
  New York NY GO 5.000%   8/1/30  4,720     5,168
  New York NY GO 5.000%   8/1/30  4,000     4,503
  New York NY GO 5.000%   8/1/30  3,000     3,529
  New York NY GO 4.000%   8/1/31  2,775     2,908
  New York NY GO 5.000%   8/1/31  7,810     8,654
  New York NY GO 5.000%   8/1/31  1,440     1,616
  New York NY GO 5.000%   8/1/31  3,000     3,502
  New York NY GO 5.000%   8/1/31  2,500     2,971
  New York NY GO 5.000%   8/1/31  1,815     2,157
  New York NY GO 5.000%  12/1/31  1,770     1,960
  New York NY GO 4.000%   8/1/32  1,935     2,003
  New York NY GO 5.000%   8/1/32  5,000     5,324
  New York NY GO 5.000%   8/1/32  1,250     1,421
  New York NY GO 5.000%   8/1/32  3,735     4,172
  New York NY GO 5.000%   8/1/32  1,000     1,157
  New York NY GO 5.000%   8/1/32  1,825     2,186
  New York NY GO 5.000%  10/1/32  2,485     2,854
  New York NY GO 5.000%  12/1/32  1,240     1,404
  New York NY GO 3.250%   3/1/33  3,000     3,045
  New York NY GO 5.000%   8/1/33  1,000     1,128
  New York NY GO 5.000%   8/1/33    500       591
  New York NY GO 5.000%   4/1/34  3,680     4,264
  New York NY GO 4.000%   8/1/34  4,535     4,704
  New York NY GO 5.000%   8/1/34  2,000     2,246
  New York NY GO 5.000%   8/1/34  2,260     2,538
  New York NY GO 5.000%   8/1/34  1,125     1,286
  New York NY GO 3.000%   3/1/35  2,500     2,413
  New York NY GO 5.000%   8/1/35  2,000     2,279
  New York NY GO 4.000%  10/1/35  1,000     1,044
  New York NY GO 5.000%  12/1/35  2,500     2,736
  New York NY GO 4.000%   3/1/36  1,500     1,563
  New York NY GO 5.000%   6/1/36    910       971
  New York NY GO 4.000%   8/1/36  1,385     1,446
  New York NY GO 5.000%  10/1/36  5,000     5,490
  New York NY GO 5.000%  10/1/36  2,590     2,917
  New York NY GO 5.000%   3/1/37  7,500     8,295
37

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York NY GO 5.000%   3/1/37     45        46
  New York NY GO 4.000%   8/1/37  2,070     2,157
  New York NY GO 4.000%   8/1/37  2,500     2,616
  New York NY GO 5.000%   8/1/37  4,000     4,345
  New York NY GO 4.000%  10/1/37  1,500     1,559
  New York NY GO 4.000%   3/1/38  4,850     5,038
  New York NY GO 5.000%   3/1/38  7,500     8,268
  New York NY GO 5.000%   3/1/38  2,000     2,248
  New York NY GO 5.000%   4/1/38  1,000     1,104
  New York NY GO 4.000%   8/1/38  5,005     5,187
  New York NY GO 4.000%   8/1/38  2,500     2,601
  New York NY GO 5.000%   8/1/38 10,395    11,267
  New York NY GO 5.000%  10/1/38  6,500     7,105
  New York NY GO 5.000%  10/1/38  2,910     3,257
  New York NY GO 5.000%   3/1/39  5,315     5,852
  New York NY GO 5.000%   3/1/39  3,000     3,364
  New York NY GO 4.000%   8/1/39  3,280     3,405
  New York NY GO 4.000%   8/1/39  2,500     2,606
  New York NY GO 4.000%  10/1/39  4,000     4,142
  New York NY GO 5.000%  10/1/39  2,220     2,479
  New York NY GO 5.000%  10/1/39  8,910     9,718
  New York NY GO 4.000%   8/1/40  1,155     1,202
  New York NY GO 4.000%   8/1/40  9,400     9,825
  New York NY GO 4.000%  10/1/40  3,000     3,106
  New York NY GO 3.000%   3/1/41  5,010     4,476
  New York NY GO 4.000%   8/1/41  2,035     2,118
  New York NY GO 4.000%   8/1/41  2,500     2,613
  New York NY GO 3.000%  10/1/41  2,250     2,006
  New York NY GO 4.000%  12/1/41  1,215     1,257
  New York NY GO 5.000%  12/1/41  8,000     8,683
  New York NY GO 5.000%  12/1/41  4,850     5,382
  New York NY GO 4.000%   3/1/42  1,500     1,555
  New York NY GO 5.000%   3/1/42  1,500     1,701
  New York NY GO 5.250%   5/1/42  6,700     7,885
  New York NY GO 4.000%   8/1/42  7,000     7,220
  New York NY GO 4.000%   8/1/42  2,500     2,605
  New York NY GO 5.000%   8/1/42  2,365     2,649
  New York NY GO 5.000%  10/1/42  8,000     8,885
  New York NY GO 4.000%  12/1/42  3,835     3,962
  New York NY GO 5.000%   3/1/43  7,500     8,343
  New York NY GO 5.000%   3/1/43  4,180     4,729
  New York NY GO 5.000%   4/1/43  6,500     7,117
  New York NY GO 5.000%   8/1/43  4,020     4,447
  New York NY GO 5.000%   8/1/43  2,340     2,615
  New York NY GO 5.000%  10/1/43  3,000     3,325
  New York NY GO 4.000%  12/1/43  2,415     2,492
  New York NY GO 4.000%   3/1/44  2,000     2,066
  New York NY GO 5.000%   3/1/44  1,000     1,129
  New York NY GO 4.000%   8/1/44  9,205     9,461
  New York NY GO 5.000%  12/1/44  3,000     3,310
  New York NY GO 5.000%   4/1/45  5,000     5,460
  New York NY GO 4.000%   3/1/47 11,545    11,911
  New York NY GO 5.000%   8/1/47  5,000     5,649
  New York NY GO 4.000%   3/1/50    525       539
  New York NY GO 5.000%   3/1/50  6,200     6,904
38

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York NY GO 3.000%   8/1/50  4,000     3,360
  New York NY GO 4.000%   8/1/50  6,000     6,180
  New York NY GO 3.000%   3/1/51  3,000     2,509
  New York NY GO VRDO 0.620%   6/1/22 16,340    16,340
4 New York NY GO VRDO 0.630%   6/1/22 16,000    16,000
  New York NY GO VRDO 0.650%   6/1/22  4,745     4,745
4 New York NY GO VRDO 0.670%   6/1/22  8,610     8,610
  New York NY GO, Prere. 5.000%   3/1/23  2,500     2,566
  New York NY GO, Prere. 5.000%   3/1/23  4,500     4,619
  New York NY GO, Prere. 5.000%   3/1/23  6,745     6,921
  New York Power Authority Electric Power & Light Revenue 4.000% 11/15/45  3,325     3,378
  New York Power Authority Electric Power & Light Revenue 4.000% 11/15/50 11,500    11,647
  New York Power Authority Electric Power & Light Revenue 4.000% 11/15/55 18,740    18,909
  New York Power Authority Electric Power & Light Revenue 3.250% 11/15/60  8,100     6,611
  New York Power Authority Electric Power & Light Revenue 4.000% 11/15/60  5,500     5,531
1 New York Power Authority Electric Power & Light Revenue (Green Transmission Project) 4.000% 11/15/36  2,440     2,562
1 New York Power Authority Electric Power & Light Revenue (Green Transmission Project) 4.000% 11/15/37  1,825     1,912
1 New York Power Authority Electric Power & Light Revenue (Green Transmission Project) 4.000% 11/15/52  7,500     7,674
1 New York Power Authority Electric Power & Light Revenue (Green Transmission Project) 4.000% 11/15/61  5,000     5,080
  New York State Bridge Authority Highway Revenue 5.000%   1/1/29  1,065     1,218
  New York State Bridge Authority Highway Revenue 5.000%   1/1/30    830       961
  New York State Bridge Authority Highway Revenue 5.000%   1/1/31    600       702
  New York State Bridge Authority Highway Revenue 4.000%   1/1/33  1,285     1,345
  New York State Bridge Authority Highway Revenue 4.000%   1/1/36    675       694
  New York State Bridge Authority Highway Revenue 4.000%   1/1/51  1,255     1,263
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/23    280       288
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/24    315       329
8 New York State Dormitory Authority College & University Revenue 5.150%   7/1/24  1,370     1,414
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/25  1,270     1,290
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/25    315       334
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/26    750       804
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/26  2,595     2,771
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/26    325       349
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/27  1,025     1,040
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/27    655       699
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/27    500       544
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/27    490       521
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/27    350       379
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/28  1,470     1,490
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/28    540       542
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/28    400       435
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/28    300       328
  New York State Dormitory Authority College & University Revenue 5.000%   5/1/29  1,660     1,682
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29  1,300     1,411
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29  1,010     1,092
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29    850       937
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29     25        28
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29     45        48
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/29    300       330
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30  2,000     2,159
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30    500       539
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30    515       566
39

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30  5,065     5,588
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30    505       554
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/30    300       331
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/31  1,275     1,303
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/31  1,015     1,057
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/31  1,750     1,755
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/31  3,000     3,170
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/31    955     1,028
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/31  1,000     1,103
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/31    350       387
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/32  1,450     1,478
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/32    540       612
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/32    575       629
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/32  1,825     2,008
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/32    325       362
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/33    500       511
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/33  1,200     1,235
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/33  1,030     1,056
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/33  7,395     7,799
  New York State Dormitory Authority College & University Revenue 5.500%   7/1/33  1,390     1,430
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/34  1,660     1,689
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/34  1,500     1,528
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/34     15        15
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/34    755       812
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/35  3,000     3,094
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/35  1,355     1,401
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/35    570       590
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/35    225       229
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/35    560       602
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/35  2,000     2,186
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/35  2,395     2,512
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/35  1,335     1,522
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/36  2,000     2,065
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/36    530       542
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/36  7,615     7,650
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/36    300       305
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/36  2,000     2,074
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/36  1,500     1,635
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/36  1,000     1,127
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/37  1,020     1,051
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/37    505       516
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/37    325       330
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/37  1,555     1,592
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/37    245       267
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/37  2,000     2,274
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/37    225       248
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/37    750       842
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/38    405       412
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/38    600       615
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/38  2,515     2,568
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/38  1,000     1,120
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/38  5,000     5,598
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/39  2,510     2,562
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/39  1,615     1,806
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/39  1,455     1,551
40

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/39     15        16
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/39    600       680
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/39  1,000     1,117
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/40  1,180     1,178
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/40  7,625     7,927
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/40  2,135     2,383
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/40  2,840     2,952
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/40  1,000     1,115
9 New York State Dormitory Authority College & University Revenue 5.500%   7/1/40  1,500     1,894
  New York State Dormitory Authority College & University Revenue 3.000%   7/1/41  3,000     2,623
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/41  4,235     4,539
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/41  1,000     1,129
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/41  1,145     1,269
  New York State Dormitory Authority College & University Revenue 3.000%   7/1/42  2,790     2,469
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/42  3,000     3,132
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/42     10        11
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/42    300       327
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/43  1,410     1,438
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/43  1,185     1,237
  New York State Dormitory Authority College & University Revenue 5.750%   7/1/43  7,105     7,309
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/44  4,000     4,010
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/45  5,000     5,100
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/45  2,790     2,879
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/45  2,000     2,526
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/46  3,250     3,277
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/46 10,000    10,136
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/46  3,000     3,801
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/46  1,250     1,356
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/47  4,500     4,372
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/47  2,900     3,693
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/48 14,705    15,633
  New York State Dormitory Authority College & University Revenue 5.000%  10/1/48 11,580    14,820
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/49  6,365     6,527
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/49  4,000     4,065
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/49 10,500    11,753
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/50  3,000     3,058
  New York State Dormitory Authority College & University Revenue 4.000%   7/1/52  2,445     2,343
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/52  2,505     2,783
  New York State Dormitory Authority College & University Revenue 5.000%   7/1/57  7,000     7,096
  New York State Dormitory Authority College & University Revenue (Brooklyn Law School Project), Prere. 5.000%   7/1/22  1,630     1,635
  New York State Dormitory Authority College & University Revenue (Brooklyn Law School Project), Prere. 5.000%   7/1/22  1,210     1,214
  New York State Dormitory Authority College & University Revenue (Brooklyn Law School Project), Prere. 5.000%   7/1/22  1,000     1,003
  New York State Dormitory Authority College & University Revenue (Brooklyn Law School Project), Prere. 5.000%   7/1/22  1,000     1,003
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/41  7,185     7,575
  New York State Dormitory Authority College & University Revenue (New School Project) 4.000%   7/1/43    570       563
  New York State Dormitory Authority College & University Revenue (New School Project) 5.000%   7/1/46  4,880     5,107
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22  3,625     3,637
41

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22 10,000    10,032
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22  4,200     4,213
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22  3,250     3,260
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22  2,290     2,297
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22  3,000     3,009
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22  2,250     2,257
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/22 13,500    13,543
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   9/1/22  2,355     2,377
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   9/1/22  1,520     1,534
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   5/1/23     30        31
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   5/1/23     30        31
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   5/1/23     20        21
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/23  1,300     1,348
  New York State Dormitory Authority College & University Revenue, Prere. 5.250%   7/1/23  2,500     2,599
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/24    500       530
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/24  1,000     1,059
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/24    500       530
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/24  2,110     2,235
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/24  1,805     1,912
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/25     15        16
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/25      5         5
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/25    210       228
  New York State Dormitory Authority College & University Revenue, Prere. 5.000%   7/1/25    210       228
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/24    500       522
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/26    670       705
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/27  2,135     2,263
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/27    470       470
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/27    780       847
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/27  2,200     2,407
42

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/28  2,355     2,488
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/28    700       756
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/28  1,300     1,410
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/29  8,135     8,579
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29  1,550     1,663
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29  1,070     1,115
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/29    485       507
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/30    500       517
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/30  2,225     2,342
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   8/1/30    540       558
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/31    450       464
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 3.000%   7/1/31  2,400     2,093
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   8/1/31    450       464
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/31    900       962
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/31  1,200     1,286
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/32  1,145     1,176
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/32  2,650     2,783
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32    710       711
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32    745       789
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/32  1,875     2,079
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   8/1/32    340       349
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/33    700       717
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/33  3,555     3,730
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 3.000%   7/1/33  2,650     2,257
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/33    800       846
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   9/1/33  2,250     2,399
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/33  1,000     1,064
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/33  1,100     1,144
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/34    825       843
43

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   5/1/34    775       781
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/34  3,000     3,098
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/34  1,200     1,247
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/35    950       967
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/35  1,620     1,672
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   8/1/35    450       458
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/35  2,200     2,338
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/35  1,100     1,168
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/36    500       507
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/36  3,020     3,163
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/36    400       405
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/36    100       103
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   9/1/36    405       401
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/36  1,100     1,167
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/37  1,000     1,047
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/37  1,015     1,046
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   8/1/37  4,000     3,943
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   9/1/37    300       296
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/37  1,000     1,061
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   9/1/38    600       589
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/39    600       605
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   9/1/39    550       539
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 3.000%   8/1/40    500       443
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   9/1/40  1,870     1,825
3 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/40  1,300     1,335
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/41  3,400     3,412
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/42  5,000     5,361
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/43  2,275     2,371
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   5/1/45  7,385     7,394
44

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/45  3,500     2,925
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   9/1/45  4,000     3,744
5 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 3.000%   2/1/50  5,000     4,223
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/50  8,260     8,322
3,10 New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/51 10,000     9,792
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.250%   5/1/52  4,900     4,917
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 5.000%   5/1/52  8,710     9,592
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue 4.000%   7/1/53 13,000    13,074
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   5/1/24  2,140     2,219
  New York State Dormitory Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   5/1/26  2,000     2,144
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/28  3,290     3,471
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/29  5,100     5,616
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/31  1,000     1,084
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/33  5,000     5,508
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/33  1,000     1,190
  New York State Dormitory Authority Income Tax Revenue 5.250%  3/15/33  1,750     1,910
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/34  4,985     5,161
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/34  5,000     5,470
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/35  5,000     5,167
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/35  7,500     8,543
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/35  3,510     3,852
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/35  3,000     3,180
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/35  4,305     4,650
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/35  5,030     5,528
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/36  3,000     3,290
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/36  1,000     1,079
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/37  3,000     3,134
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/37  5,000     5,239
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/38  5,670     5,890
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/38  3,705     3,880
  New York State Dormitory Authority Income Tax Revenue 5.250%  3/15/38  5,000     5,725
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/39  5,030     5,345
  New York State Dormitory Authority Income Tax Revenue 3.000%  3/15/39  3,500     3,155
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/39  2,500     2,609
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/40  8,115     8,386
  New York State Dormitory Authority Income Tax Revenue 3.000%  3/15/40  3,500     3,132
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/40 10,000    10,410
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/41    830       881
  New York State Dormitory Authority Income Tax Revenue 3.000%  3/15/41  3,100     2,753
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/41  2,500     2,877
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/42    500       541
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/42  1,500     1,629
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/42  2,500     2,593
  New York State Dormitory Authority Income Tax Revenue 5.000%  2/15/44    650       688
  New York State Dormitory Authority Income Tax Revenue 5.000%  3/15/46  5,000     5,692
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/47  1,500     1,534
45

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/47  5,000     5,122
  New York State Dormitory Authority Income Tax Revenue 4.000%  3/15/48  5,000     5,118
  New York State Dormitory Authority Income Tax Revenue 3.000%  2/15/49  3,000     2,593
  New York State Dormitory Authority Income Tax Revenue 4.000%  2/15/49  5,000     5,107
  New York State Dormitory Authority Income Tax Revenue 3.000%  3/15/49  3,220     2,783
  New York State Dormitory Authority Income Tax Revenue, Prere. 5.000%  2/15/24     15        16
  New York State Dormitory Authority Income Tax Revenue, Prere. 4.000%  2/15/27     15        16
  New York State Dormitory Authority Income Tax Revenue, Prere. 5.000%  9/15/28     10        12
  New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/27  2,700     2,986
  New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/29  2,250     2,478
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/31    750       798
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/32  1,000     1,065
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/32  1,725     1,992
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/33  1,655     1,903
  New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%   4/1/34  1,290     1,472
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 4.000%  10/1/34  1,125     1,175
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/34  1,000     1,064
  New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/34  1,175     1,339
  New York State Dormitory Authority Intergovernmental Agreement Revenue 4.000%   4/1/35  1,055     1,108
  New York State Dormitory Authority Intergovernmental Agreement Revenue 4.000%  10/1/35    645       677
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 4.000%  10/1/35    900       936
1 New York State Dormitory Authority Intergovernmental Agreement Revenue 4.000%  10/1/36    575       596
2,10 New York State Dormitory Authority Intergovernmental Agreement Revenue 5.000%  10/1/37  5,080     5,754
  New York State Dormitory Authority Intergovernmental Agreement Revenue 4.000%   7/1/52  3,435     3,478
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Bond Financing Program) 5.000%  10/1/26  1,425     1,572
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Bond Financing Program) 5.000%  10/1/31  2,015     2,232
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Bond Financing Program) 5.000%  10/1/33    600       659
  New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Bond Financing Program) 5.000%  10/1/34    520       570
1 New York State Dormitory Authority Intergovernmental Agreement Revenue (School Districts Bond Financing Program) 5.000%  10/1/27  1,000     1,065
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  1/15/30  1,535     1,724
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  1/15/31  5,000     5,597
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  3/15/31  7,500     8,891
  New York State Dormitory Authority Lease (Appropriation) Revenue 5.000%  3/15/32  5,000     5,910
46

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Dormitory Authority Lease (Appropriation) Revenue 4.000%  3/15/34  7,000     7,406
  New York State Dormitory Authority Lease (Appropriation) Revenue 4.000%  3/15/38  5,000     5,217
  New York State Dormitory Authority Lease (Appropriation) Revenue 4.000%  3/15/47  5,000     5,129
  New York State Dormitory Authority Lease (Non-Terminable) Revenue 5.000%  10/1/28  1,860     2,053
  New York State Dormitory Authority Lease (Non-Terminable) Revenue 3.000%  10/1/31 10,000     9,875
  New York State Dormitory Authority Lease (Non-Terminable) Revenue 3.000%  10/1/32 10,300    10,120
  New York State Dormitory Authority Lease Revenue (School Districts Bond Financing Program) 5.000%  10/1/29  3,000     3,328
  New York State Dormitory Authority Lease Revenue (School Districts Bond Financing Program) 5.000%  10/1/30  2,000     2,216
1 New York State Dormitory Authority Lease Revenue (School Districts Revenue Financing Program) 5.000%  10/1/32  1,000     1,139
1 New York State Dormitory Authority Lease Revenue (School Districts Revenue Financing Program) 5.000%  10/1/33  1,290     1,463
  New York State Dormitory Authority Local or Guaranteed Housing Revenue 5.000%   7/1/33  3,048     3,629
  New York State Dormitory Authority Local or Guaranteed Housing Revenue 3.000%   7/1/45  4,547     3,922
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/30    400       450
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/33  4,840     5,213
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/33    300       336
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/35  2,500     2,685
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/35  5,000     5,531
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/36  2,305     2,501
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/36  1,000     1,103
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/36  6,700     7,394
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/37  3,600     3,963
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/38  5,000     5,499
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/38  4,500     4,984
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/39  5,000     5,489
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/39  1,250     1,382
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/40  3,900     4,304
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/41 11,000    12,009
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/42 14,700    16,009
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/42  1,000     1,093
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/43  4,085     4,433
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/43  2,615     2,853
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/44     35        36
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/45  8,495     9,243
  New York State Dormitory Authority Sales Tax Revenue 5.000%  3/15/48  5,250     5,738
  New York State Environmental Facilities Corp. Water Revenue 5.000%  8/15/34  1,000     1,115
  New York State Environmental Facilities Corp. Water Revenue 5.000%  8/15/36  1,000     1,109
  New York State Environmental Facilities Corp. Water Revenue 4.000%  6/15/37  5,610     5,839
  New York State Environmental Facilities Corp. Water Revenue 5.000%  6/15/41  3,000     3,279
  New York State Environmental Facilities Corp. Water Revenue 5.000%  6/15/42 11,310    12,416
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.250%  11/1/31  1,105     1,113
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.650%  11/1/32  1,000     1,011
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.625%  11/1/33  2,340     2,350
47

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.550%  11/1/39  1,000     1,002
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.350%  11/1/40  4,300     3,415
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.850%  11/1/43  1,140     1,147
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.850%  11/1/43  2,380     2,342
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  11/1/44  1,500     1,272
5 New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.500%  11/1/45  4,990     3,849
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.650%  11/1/46  2,000     1,571
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.875%  11/1/48  2,435     2,345
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.875%  11/1/48  1,480     1,425
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.900%  11/1/48  1,415     1,368
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.050%  11/1/49 13,655    11,154
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.375%  11/1/49  5,000     4,348
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.600%  11/1/50  1,000       751
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.650%  11/1/51  1,230       926
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.730%  11/1/51  2,000     1,533
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.050%  11/1/52  3,440     2,756
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.650%  11/1/54  2,895     2,118
5 New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.650%  11/1/54  1,500     1,097
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.150%  11/1/54  4,000     3,250
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.750%  11/1/56    770       572
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 2.875%  11/1/56  3,165     2,397
  New York State Housing Finance Agency Local or Guaranteed Housing Revenue 3.000%  11/1/61  1,500     1,127
4 New York State Housing Finance Agency Local or Guaranteed Housing Revenue VRDO 0.620%   6/1/22  4,800     4,800
  New York State Thruway Authority Highway Revenue 5.000%   1/1/28  5,265     5,610
  New York State Thruway Authority Highway Revenue 5.000%   1/1/29  4,085     4,347
  New York State Thruway Authority Highway Revenue 5.000%   1/1/29  1,220     1,319
  New York State Thruway Authority Highway Revenue 5.000%   1/1/30  2,665     2,832
  New York State Thruway Authority Highway Revenue 5.000%   1/1/30  1,700     1,836
  New York State Thruway Authority Highway Revenue 5.000%   1/1/31  5,500     5,852
  New York State Thruway Authority Highway Revenue 5.000%   1/1/31  2,900     3,126
  New York State Thruway Authority Highway Revenue 5.000%   1/1/32  5,155     5,465
  New York State Thruway Authority Highway Revenue 5.000%   1/1/32  2,970     3,197
  New York State Thruway Authority Highway Revenue 5.000%   1/1/33  1,800     2,001
  New York State Thruway Authority Highway Revenue 5.000%   1/1/33  2,560     2,753
  New York State Thruway Authority Highway Revenue 5.000%   1/1/34  2,185     2,422
48

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Thruway Authority Highway Revenue 5.000%   1/1/35  3,100     3,429
  New York State Thruway Authority Highway Revenue 4.000%   1/1/36  1,275     1,313
  New York State Thruway Authority Highway Revenue 4.000%   1/1/38  2,500     2,574
  New York State Thruway Authority Highway Revenue 4.000%   1/1/38    250       254
  New York State Thruway Authority Highway Revenue 4.000%   1/1/38  1,750     1,807
  New York State Thruway Authority Highway Revenue 4.000%   1/1/39  2,500     2,569
1 New York State Thruway Authority Highway Revenue 4.000%   1/1/40  2,500     2,593
  New York State Thruway Authority Highway Revenue 4.000%   1/1/41  2,500     2,566
  New York State Thruway Authority Highway Revenue 4.000%   1/1/41 12,000    12,379
  New York State Thruway Authority Highway Revenue 5.000%   1/1/41  2,550     2,720
  New York State Thruway Authority Highway Revenue 4.000%   1/1/42  5,000     5,149
1 New York State Thruway Authority Highway Revenue 4.000%   1/1/45  3,000     3,084
1 New York State Thruway Authority Highway Revenue 3.000%   1/1/46    425       375
  New York State Thruway Authority Highway Revenue 5.000%   1/1/46 10,000    10,610
  New York State Thruway Authority Highway Revenue 3.000%   1/1/48  3,000     2,486
  New York State Thruway Authority Highway Revenue 3.000%   1/1/49  5,000     4,116
  New York State Thruway Authority Highway Revenue 3.000%   1/1/50  5,000     4,088
  New York State Thruway Authority Highway Revenue 4.000%   1/1/50 14,000    14,255
1 New York State Thruway Authority Highway Revenue 4.000%   1/1/50  2,000     2,046
  New York State Thruway Authority Highway Revenue 3.000%   1/1/51 12,500    10,292
  New York State Thruway Authority Highway Revenue 5.000%   1/1/51  5,975     6,319
1 New York State Thruway Authority Highway Revenue 3.000%   1/1/53  3,500     2,981
  New York State Thruway Authority Highway Revenue 3.000%   1/1/53  3,500     2,818
  New York State Thruway Authority Highway Revenue 4.000%   1/1/53  4,945     5,024
1 New York State Thruway Authority Highway Revenue 4.000%   1/1/53  2,000     2,038
  New York State Thruway Authority Highway Revenue 5.250%   1/1/56 16,095    17,200
3,4 New York State Thruway Authority Highway Revenue TOB VRDO 0.900%   6/2/22  8,000     8,000
  New York State Thruway Authority Lease (Appropriation) Revenue 3.000%  3/15/50  9,040     7,869
  New York State Thruway Authority Lease (Appropriation) Revenue 4.000%  3/15/53  9,340     9,522
  New York State Thruway Authority Lease (Appropriation) Revenue 4.000%  3/15/59 12,000    12,180
  New York State Urban Development Corp. Income Tax Revenue 5.000%  3/15/31  3,410     3,733
  New York State Urban Development Corp. Income Tax Revenue 5.000%  3/15/33  3,000     3,443
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/34  3,000     3,157
  New York State Urban Development Corp. Income Tax Revenue 5.000%  3/15/35  2,000     2,119
  New York State Urban Development Corp. Income Tax Revenue 5.000%  3/15/36  1,000     1,110
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/38  5,000     5,192
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/39  3,505     3,638
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/39  3,450     3,574
  New York State Urban Development Corp. Income Tax Revenue 3.000%  3/15/40  2,050     1,867
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/40  8,280     8,581
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/41  5,000     5,165
  New York State Urban Development Corp. Income Tax Revenue 5.000%  3/15/41  6,000     6,747
  New York State Urban Development Corp. Income Tax Revenue 5.000%  3/15/42  1,000     1,103
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/45  4,000     4,109
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/45  2,500     2,568
  New York State Urban Development Corp. Income Tax Revenue 3.000%  3/15/47  2,600     2,283
  New York State Urban Development Corp. Income Tax Revenue 4.000%  3/15/49 12,310    12,599
3,4 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.820%   6/2/22  5,600     5,600
3,4 New York State Urban Development Corp. Income Tax Revenue TOB VRDO 0.850%   6/2/22  4,688     4,688
  New York State Urban Development Corp. Lease (Appropriation) Revenue 5.000%  3/15/35  1,490     1,682
  New York State Urban Development Corp. Lease (Appropriation) Revenue 4.000%  3/15/38  5,000     5,199
49

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  New York State Urban Development Corp. Lease (Appropriation) Revenue 5.000%  3/15/39  1,340     1,497
  New York State Urban Development Corp. Lease (Appropriation) Revenue 5.000%  3/15/40    925     1,031
  New York State Urban Development Corp. Lease (Appropriation) Revenue 3.000%  3/15/42  5,000     4,492
  New York State Urban Development Corp. Lease (Appropriation) Revenue 4.000%  3/15/43  3,525     3,628
  New York State Urban Development Corp. Lease (Appropriation) Revenue 4.000%  3/15/43 13,895    14,307
  New York State Urban Development Corp. Lease (Appropriation) Revenue 4.000%  3/15/44  2,500     2,569
  New York State Urban Development Corp. Lease (Appropriation) Revenue 4.000%  3/15/45  3,635     3,729
  New York State Urban Development Corp. Lease (Appropriation) Revenue 3.000%  3/15/49  1,725     1,506
  New York State Urban Development Corp. Lease (Appropriation) Revenue 2.625%  3/15/51  2,000     1,551
  New York Transportation Development Corp Industrial Revenue 4.000%  12/1/39  3,290     3,274
  New York Transportation Development Corp. Industrial Revenue 5.000%  12/1/30  1,000     1,107
  New York Transportation Development Corp. Industrial Revenue 5.000%  12/1/33  4,655     5,059
  New York Transportation Development Corp. Industrial Revenue 5.000%  12/1/34  5,065     5,479
  New York Transportation Development Corp. Industrial Revenue 5.000%  12/1/35  2,505     2,705
  New York Transportation Development Corp. Industrial Revenue 4.000%  12/1/41    795       783
  Niagara Area Development Corp. Health, Hospital, Nursing Home Revenue 4.500%   7/1/52  1,795     1,562
  Oneida County Local Development Corp. College & University Revenue (Utica College Project) 4.000%   7/1/39    500       468
1 Oneida County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/34  1,000     1,033
1 Oneida County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/35  1,000     1,033
1 Oneida County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/36  1,000     1,033
1 Oneida County Local Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/49  3,785     3,827
1 Oneida County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.000%  12/1/51  5,000     4,157
  Onondaga Civic Development Corp. College & University Revenue 5.000%   7/1/32  1,000     1,003
  Onondaga Civic Development Corp. College & University Revenue 5.000%   7/1/42  1,855     1,861
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/28    450       477
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/29    475       501
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/30    450       473
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/31    690       768
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/32    510       548
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/33    540       579
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/33    575       600
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/33    300       328
50

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/34    565       605
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/34    330       331
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/34    300       327
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/35    595       636
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/35    635       662
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/35    410       446
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/36    625       668
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/36    435       435
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/36    350       350
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/37    355       378
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/37    300       300
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/38    285       303
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/38    275       274
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/38    200       199
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/39    350       347
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/39    500       496
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/40    300       297
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/40  1,940     2,013
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/41    250       246
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 4.000%   7/1/42    530       520
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   1/1/43  1,000     1,056
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/45  3,950     4,084
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/46    500       538
  Onondaga Civic Development Corp. College & University Revenue (Le Moyne College Project) 5.000%   7/1/51    725       776
  Onondaga Civic Development Corp. Health, Hospital, Nursing Home Revenue 5.500%   3/1/24  1,305     1,318
  Onondaga Civic Development Corp. Health, Hospital, Nursing Home Revenue 5.250%   3/1/31  4,200     4,179
  Onondaga County Trust for Cultural Resources College & University Revenue (Syracuse University Project) 4.000%  12/1/41  5,000     5,081
  Onondaga County Trust for Cultural Resources College & University Revenue (Syracuse University Project) 5.000%  12/1/45  2,000     2,235
  Onondaga County Trust for Cultural Resources College & University Revenue (Syracuse University Project), Prere. 5.000%  12/1/23  1,000     1,049
51

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Onondaga County Trust for Cultural Resources Local or Guaranteed Housing Revenue (Abby Lane Housing Corp. Project) 5.000%   5/1/35  1,140     1,204
  Onondaga County Trust for Cultural Resources Local or Guaranteed Housing Revenue (Abby Lane Housing Corp. Project) 5.000%   5/1/36  1,475     1,555
  Onondaga County Trust for Cultural Resources Local or Guaranteed Housing Revenue (Abby Lane Housing Corp. Project) 5.000%   5/1/40  2,200     2,303
  Onondaga County Water Authority Water Revenue 2.500%  9/15/51  1,510     1,137
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 10/15/29  3,545     3,838
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  7/15/31    380       434
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 10/15/33  1,750     1,895
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 11/15/35  4,275     4,723
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%   9/1/38  3,380     3,509
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%   5/1/40  3,565     3,765
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  7/15/41  2,250     2,340
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 10/15/41 13,180    14,009
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000% 11/15/47  8,000     8,760
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%   9/1/48  5,000     5,561
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  11/1/49 13,525    13,902
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  7/15/56  5,000     5,537
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  4/15/57  2,000     2,165
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.000%  5/15/57  2,000     2,178
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 5.250% 11/15/57 11,450    12,794
  Port Authority of New York & New Jersey Port, Airport & Marina Revenue 4.000%  7/15/61  5,000     5,112
  Rockland County NY GO 4.000%   4/1/23    235       240
  Rockland County NY GO 4.000%   4/1/24    240       249
  Rockland County NY GO 4.000%   4/1/25    255       267
  Rockland County NY GO 4.000%   4/1/26    265       281
  Rockland County NY GO 4.000%   4/1/27    270       289
  Rockland County NY GO 4.000%   4/1/28    285       307
  Rockland County NY GO 4.000%   4/1/29    300       326
  Rockland County NY GO 4.000%   4/1/30    310       338
  Rockland County NY GO 4.000%   4/1/31    320       348
  Rockland County NY GO 4.000%   4/1/32    335       363
1 Rockland County NY GO 3.000%  6/15/32  2,815     2,822
  Rockland County NY GO 4.000%   4/1/33    350       376
  Rockland County NY GO 4.000%   4/1/34    370       392
  Rockland County NY GO 4.000%   4/1/35    385       403
  Rockland County NY GO 4.000%   4/1/36    410       425
  Rockland County NY GO 4.000%   4/1/44  1,995     2,048
52

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. 5.000% 10/15/24     10        11
  Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. 5.000% 10/15/24  2,815     3,018
  Sales Tax Asset Receivable Corp. Sales Tax Revenue, Prere. 5.000% 10/15/24     65        70
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/32    220       243
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/33    175       193
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/34    225       248
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/35    225       248
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/36    500       550
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 3.000%   7/1/38    610       560
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 4.000%   7/1/38  1,440     1,467
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/38    300       329
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 3.000%   7/1/39  2,635     2,400
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 3.000%   7/1/40  2,110     1,909
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/43  3,550     3,878
  Saratoga County Capital Resource Corp. College & University Revenue (Skidmore College Project) 5.000%   7/1/48  4,520     4,910
10 Schenectady County Capital Resource Corp. College & University Revenue (Union College Project) 5.000%   7/1/32  1,000     1,165
10 Schenectady County Capital Resource Corp. College & University Revenue (Union College Project) 5.250%   7/1/52  1,000     1,121
1 Schenectady NY GO 3.000%   5/1/31    635       640
  St. Lawrence County Industrial Development Agency College & University Revenue 5.000%   7/1/28    310       337
  St. Lawrence County Industrial Development Agency College & University Revenue 5.000%   7/1/29    660       716
  St. Lawrence County Industrial Development Agency College & University Revenue 5.000%   7/1/31    450       486
  St. Lawrence County Industrial Development Agency College & University Revenue 5.000%   7/1/34    830       893
  St. Lawrence County Industrial Development Agency College & University Revenue 5.000%   7/1/35  1,510     1,624
  St. Lawrence County Industrial Development Agency College & University Revenue 5.000%   7/1/36    545       586
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/29    100       111
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/30     75        84
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/30    285       319
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/31    100       112
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/31    275       309
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/32    100       112
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/32    265       296
53

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/33    100       111
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/33    250       278
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/34    150       166
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/34    250       277
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/35    150       166
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/35    270       299
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/36    105       116
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/36    300       331
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/37    150       166
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/37    300       331
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/38    150       165
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/38    225       248
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/39    150       165
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/39    235       258
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/40    150       165
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/40    250       274
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/41    130       142
  St. Lawrence County Industrial Development Agency College & University Revenue (Clarkson University Project) 5.000%   9/1/41    300       329
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/23    230       234
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/24    250       257
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 4.000%  12/1/25    250       258
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28  1,500     1,561
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29  3,000     3,118
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/29    720       782
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/29    180       196
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/34  1,000     1,077
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/34    170       183
  Suffolk County Economic Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  12/1/40  2,000     2,136
  Suffolk County Judicial Facilities Agency Lease (Appropriation) Revenue 5.000%  11/1/33  9,000     9,331
1 Suffolk County NY GO 4.000% 10/15/27  2,410     2,581
54

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
2 Suffolk County NY GO 4.000% 10/15/28  3,850     4,189
2 Suffolk County NY GO 4.000%   4/1/30  4,420     4,708
2 Suffolk County NY GO 4.000%   4/1/31  4,590     4,855
1 Suffolk County NY GO 3.000%  6/15/31    250       252
  Suffolk NY GO 5.000%  6/15/31  1,000     1,162
  Suffolk NY GO 5.000%  6/15/32    850       997
  Suffolk NY GO 5.000%  6/15/33    915     1,069
  Suffolk NY GO 5.000%  6/15/34    715       833
  Suffolk Tobacco Asset Securitization Corp. Tobacco Settlement Funded Revenue 4.000%   6/1/50  3,750     3,751
  Syracuse Industrial Development Agency Intergovernmental Agreement Revenue 4.000%   5/1/33  1,025     1,054
  Syracuse Industrial Development Agency Intergovernmental Agreement Revenue 4.000%   5/1/34  1,200     1,227
  Syracuse Industrial Development Agency Intergovernmental Agreement Revenue 4.000%   5/1/35  1,000     1,021
  Syracuse Industrial Development Agency Intergovernmental Agreement Revenue (Syracuse City School District Project) 4.000%   5/1/34    725       744
  Syracuse Industrial Development Agency Intergovernmental Agreement Revenue (Syracuse City School District Project) 4.000%   5/1/35    500       513
  Triborough Bridge & Tunnel Authority Highway Revenue 0.000% 11/15/29  2,705     2,122
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/29    725       780
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/30    500       537
  Triborough Bridge & Tunnel Authority Highway Revenue 0.000% 11/15/31  5,500     3,940
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/31  3,010     3,311
  Triborough Bridge & Tunnel Authority Highway Revenue 0.000% 11/15/32  3,510     2,434
  Triborough Bridge & Tunnel Authority Highway Revenue 0.000% 11/15/32    235       160
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/33  2,000     2,147
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/35  5,000     5,611
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/36  5,010     5,480
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/37  2,500     2,703
  Triborough Bridge & Tunnel Authority Highway Revenue 4.000% 11/15/38  1,000     1,033
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/40  4,305     4,588
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/41  2,510     2,734
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/42  4,600     4,999
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/43 10,000    10,979
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/43  5,985     6,643
  Triborough Bridge & Tunnel Authority Highway Revenue 5.250% 11/15/45  4,000     4,306
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/46  7,500     8,205
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/47  7,340     7,943
  Triborough Bridge & Tunnel Authority Highway Revenue 3.000% 11/15/48  3,995     3,458
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/49  2,240     2,472
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/49  6,820     7,649
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/51 16,000    17,996
  Triborough Bridge & Tunnel Authority Highway Revenue 4.000% 11/15/54 10,000    10,124
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/54  9,500    10,611
  Triborough Bridge & Tunnel Authority Highway Revenue 4.000% 11/15/56  3,500     3,540
  Triborough Bridge & Tunnel Authority Highway Revenue 5.000% 11/15/56  5,000     5,602
3,4 Triborough Bridge & Tunnel Authority Highway Revenue TOB VRDO 0.820%   6/2/22  6,525     6,525
10 Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/28  5,000     5,667
10 Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/29  4,500     5,164
10 Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/30  4,000     4,624
55

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
10 Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/31  2,500     2,921
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 3.000%  5/15/32    360       360
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 0.000%  5/15/33  5,000     3,368
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 2.500%  5/15/51  2,500     1,819
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 4.000%  5/15/51  4,545     4,666
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 4.000%  5/15/51  5,890     6,054
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/51  2,500     2,837
  Triborough Bridge & Tunnel Authority Miscellaneous Taxes Revenue 5.000%  5/15/56 11,000    12,359
  Troy Capital Resource Corp. College & University Revenue 5.000%   8/1/23  1,000     1,037
  Troy Capital Resource Corp. College & University Revenue 5.000%   8/1/24  1,165     1,226
  Troy Capital Resource Corp. College & University Revenue 5.000%   8/1/25  1,000     1,070
  Troy Capital Resource Corp. College & University Revenue 5.000%   9/1/27    150       166
  Troy Capital Resource Corp. College & University Revenue 5.000%   9/1/28    275       306
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/30    470       497
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/31    235       247
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/32    365       379
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/33    100       103
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/34    155       158
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/35    190       192
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/36    380       383
  Troy Capital Resource Corp. College & University Revenue 5.000%   9/1/37  2,900     3,207
  Troy Capital Resource Corp. College & University Revenue 5.000%   9/1/38  2,500     2,751
  Troy Capital Resource Corp. College & University Revenue 5.000%   9/1/39  2,845     3,115
  Troy Capital Resource Corp. College & University Revenue 4.000%   9/1/40  3,060     3,044
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/26  3,095     3,319
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/28  5,880     6,353
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/29  5,015     5,401
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/30  5,325     5,719
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/32  1,725     1,844
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/33  5,000     5,337
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/34  6,000     6,387
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/36    900       956
  TSASC Inc. NY Tobacco Settlement Funded Revenue 5.000%   6/1/41  5,500     5,808
  Utility Debt Securitization Authority Electric Power & Light Revenue 5.000% 12/15/33  2,755     2,999
  Webster Central School District GO 2.000%  6/15/33  1,180     1,004
  Webster Central School District GO 2.000%  6/15/34  1,265     1,053
  Westbury Union Free School District GO 2.000% 12/15/31  3,600     3,227
  Westbury Union Free School District GO 2.000% 12/15/32  3,670     3,226
  Westchester County Local Development Corp. College & University Revenue 5.000%   5/1/34 15,200    15,542
  Westchester County Local Development Corp. College & University Revenue 5.500%   5/1/42  7,640     7,863
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/22    400       401
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/23    525       540
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/23    680       708
56

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/24    350       368
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/25    475       507
3 Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 2.875%   7/1/26  1,380     1,323
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/26    590       638
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/27    440       475
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/27  1,035     1,103
3 Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.200%   7/1/28  3,515     3,309
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/28    370       398
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/28  1,000     1,060
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/29    500       538
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/29  1,000     1,056
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/34    200       214
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/34  2,500     2,611
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 3.750%  11/1/37  2,375     2,345
3 Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/41  2,000     1,954
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/42    550       587
3 Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/46    610       583
  Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%  11/1/46 21,895    22,452
3 Westchester County Local Development Corp. Health, Hospital, Nursing Home Revenue 5.000%   7/1/56  3,100     2,894
  Westchester County Local Development Corp. Local or Guaranteed Housing Revenue (Purchase Housing Corp. II Project) 5.000%   6/1/37  1,275     1,323
  Westchester County Local Development Corp. Local or Guaranteed Housing Revenue (Purchase Housing Corp. II Project) 5.000%   6/1/47  1,000     1,023
  Westchester County NY Healthcare Corp. Health, Hospital, Nursing Home Revenue 6.000%  11/1/30     15        15
  Westchester Tobacco Asset Securitization Corp. Tobacco Settlement Funded Revenue 5.000%   6/1/32  2,500     2,691
  Western Nassau County Water Authority Water Revenue 3.000%   4/1/39    845       790
  Yonkers Economic Development Corp. Charter School Aid Revenue 5.000% 10/15/40    750       767
  Yonkers Economic Development Corp. Charter School Aid Revenue 5.000% 10/15/50  1,325     1,336
  Yonkers Economic Development Corp. Charter School Aid Revenue (Charter School Education Excellence Project) 4.000% 10/15/29    400       395
  Yonkers Economic Development Corp. Charter School Aid Revenue (Charter School Education Excellence Project) 5.000% 10/15/39  1,000     1,027
  Yonkers Economic Development Corp. Charter School Aid Revenue (Charter School Education Excellence Project) 5.000% 10/15/49    640       647
57

 

New York Long-Term Tax-Exempt Fund
    Coupon Maturity
Date 		Face
Amount
($000) 		Market
Value•

($000)
  Yonkers Economic Development Corp. Charter School Aid Revenue (Charter School Education Excellence Project) 5.000% 10/15/54    765       771
1 Yonkers NY GO 5.000%  3/15/34  1,400     1,624
1 Yonkers NY GO 5.000%  3/15/36  1,735     2,003
1 Yonkers NY GO 5.000%  3/15/38  1,000     1,148
                 4,555,442
Guam (0.2%)
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/29  1,000     1,044
  Guam Miscellaneous Taxes Revenue 5.000% 11/15/27    475       509
  Guam Miscellaneous Taxes Revenue 4.000%   1/1/42    375       340
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/31  5,980     6,375
                 8,268
Puerto Rico (0.4%)
  Commonwealth of Puerto Rico GO 5.750%   7/1/31    798       902
  Commonwealth of Puerto Rico GO 4.000%   7/1/33    134       131
  Commonwealth of Puerto Rico GO 4.000%   7/1/35    586       565
  Commonwealth of Puerto Rico GO 4.000%   7/1/46    172       160
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/24    895       833
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/27  2,511     2,090
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/29  3,388     2,579
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/31    275       189
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 4.329%   7/1/40  9,544     9,532
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 4.329%   7/1/40  1,437     1,435
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 5.000%   7/1/58  3,202     3,256
                 21,672
Total Tax-Exempt Municipal Bonds (Cost $4,769,260) 4,585,382
Total Investments (99.6%) (Cost $4,769,260) 4,585,382
Other Assets and Liabilities—Net (0.4%) 16,509
Net Assets (100%) 4,601,891
Cost is in $000.
• See Note A in Notes to Financial Statements.
1 Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp.
2 Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co.
3 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, 2022, the aggregate value was $108,895,000, representing 2.4% of net assets.
4 Scheduled principal and interest payments are guaranteed by bank letter of credit.
5 Scheduled principal and interest payments are guaranteed by Federal Housing Authority.
6 Scheduled principal and interest payments are guaranteed by Assured Guaranty Corp.
7 Securities with a value of $1,395,000 have been segregated as initial margin for open futures contracts.
8 Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp.
9 Scheduled principal and interest payments are guaranteed by Ambac Assurance Corp.
10 Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of May 31, 2022.
  ETM—Escrowed to Maturity.
  GO—General Obligation Bond.
  PILOT—Payments in Lieu of Taxes.
  Prere.—Prerefunded.
  PUT—Put Option Obligation.
  TOB—Tender Option Bond.
  VRDO—Variable Rate Demand Obligation.
58

 

New York Long-Term Tax-Exempt Fund
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts 		Notional
Amount 		Value and
Unrealized
Appreciation
(Depreciation)
Long Futures Contracts        
5-Year U.S. Treasury Note September 2022 291 32,869 (130)
 
Short Futures Contracts        
Ultra 10-Year U.S. Treasury Note September 2022 (201) (25,825) 198
Ultra Long U.S. Treasury Bond September 2022 (84) (13,083) 292
        490
        360
  
See accompanying Notes, which are an integral part of the Financial Statements.
59

 

New York Long-Term Tax-Exempt Fund
Statement of Assets and Liabilities
As of May 31, 2022
($000s, except shares and per-share amounts) Amount
Assets  
Investments in Securities, at Value—Unaffiliated Issuers (Cost $4,769,260) 4,585,382
Investment in Vanguard 167
Cash 6,457
Receivables for Investment Securities Sold 8,736
Receivables for Accrued Income 48,780
Receivables for Capital Shares Issued 5,862
Variation Margin Receivable—Futures Contracts 364
Other Assets 99
Total Assets 4,655,847
Liabilities  
Payables for Investment Securities Purchased 41,722
Payables for Capital Shares Redeemed 9,296
Payables for Distributions 2,746
Payables to Vanguard 192
Total Liabilities 53,956
Net Assets 4,601,891
At May 31, 2022, net assets consisted of:  
   
Paid-in Capital 4,818,864
Total Distributable Earnings (Loss) (216,973)
Net Assets 4,601,891
 
Investor Shares—Net Assets  
Applicable to 39,934,837 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		437,123
Net Asset Value Per Share—Investor Shares $10.95
 
Admiral Shares—Net Assets  
Applicable to 380,485,989 outstanding $.001 par value shares of
beneficial interest (unlimited authorization) 		4,164,768
Net Asset Value Per Share—Admiral Shares $10.95
  
See accompanying Notes, which are an integral part of the Financial Statements.
60

 

New York Long-Term Tax-Exempt Fund
Statement of Operations
  Six Months Ended
May 31, 2022
  ($000)
Investment Income  
Income  
Interest 69,469
Total Income 69,469
Expenses  
The Vanguard Group—Note B  
Investment Advisory Services 162
Management and Administrative—Investor Shares 368
Management and Administrative—Admiral Shares 1,809
Marketing and Distribution—Investor Shares 27
Marketing and Distribution—Admiral Shares 109
Custodian Fees 14
Shareholders’ Reports—Investor Shares 8
Shareholders’ Reports—Admiral Shares 15
Trustees’ Fees and Expenses 1
Other Expenses 12
Total Expenses 2,525
Net Investment Income 66,944
Realized Net Gain (Loss)  
Investment Securities Sold (27,985)
Futures Contracts 4,064
Realized Net Gain (Loss) (23,921)
Change in Unrealized Appreciation (Depreciation)  
Investment Securities (517,635)
Futures Contracts 785
Change in Unrealized Appreciation (Depreciation) (516,850)
Net Increase (Decrease) in Net Assets Resulting from Operations (473,827)
  
See accompanying Notes, which are an integral part of the Financial Statements.
61

 

New York Long-Term Tax-Exempt Fund
Statement of Changes in Net Assets
  Six Months Ended
May 31,
2022 		  Year Ended
November 30,
2021
  ($000)   ($000)
Increase (Decrease) in Net Assets      
Operations      
Net Investment Income 66,944   137,197
Realized Net Gain (Loss) (23,921)   43,627
Change in Unrealized Appreciation (Depreciation) (516,850)   935
Net Increase (Decrease) in Net Assets Resulting from Operations (473,827)   181,759
Distributions      
Investor Shares (10,272)   (17,121)
Admiral Shares (98,501)   (161,862)
Total Distributions (108,773)   (178,983)
Capital Share Transactions      
Investor Shares (53,748)   33,064
Admiral Shares (405,146)   369,580
Net Increase (Decrease) from Capital Share Transactions (458,894)   402,644
Total Increase (Decrease) (1,041,494)   405,420
Net Assets      
Beginning of Period 5,643,385   5,237,965
End of Period 4,601,891   5,643,385
  
See accompanying Notes, which are an integral part of the Financial Statements.
62

 

New York Long-Term Tax-Exempt Fund
Financial Highlights
Investor Shares            
For a Share Outstanding
Throughout Each Period  		Six Months
Ended
May 31,
2022 		Year Ended November 30,
2021 2020 2019 2018 2017
Net Asset Value, Beginning of Period $12.21 $12.20 $12.01 $11.34 $11.71 $11.49
Investment Operations            
Net Investment Income1 .144 .295 .327 .354 .369 .372
Net Realized and Unrealized Gain (Loss) on Investments (1.169) .108 .231 .696 (.314) .282
Total from Investment Operations (1.025) .403 .558 1.050 .055 .654
Distributions            
Dividends from Net Investment Income (.144) (.295) (.326) (.355) (.369) (.372)
Distributions from Realized Capital Gains (.091) (.098) (.042) (.025) (.056) (.062)
Total Distributions (.235) (.393) (.368) (.380) (.425) (.434)
Net Asset Value, End of Period $10.95 $12.21 $12.20 $12.01 $11.34 $11.71
Total Return2 -8.50% 3.34% 4.73% 9.37% 0.48% 5.76%
Ratios/Supplemental Data            
Net Assets, End of Period (Millions) $437 $546 $513 $550 $425 $464
Ratio of Total Expenses to Average Net Assets 0.17% 0.17% 0.17% 0.17% 0.17% 0.19%
Ratio of Net Investment Income to Average Net Assets 2.52% 2.41% 2.73% 3.00% 3.21% 3.18%
Portfolio Turnover Rate 31% 40% 34% 15% 18% 16%
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.
63

 

New York Long-Term Tax-Exempt Fund
Financial Highlights
Admiral Shares            
For a Share Outstanding
Throughout Each Period  		Six Months
Ended
May 31,
2022 		Year Ended November 30,
2021 2020 2019 2018 2017
Net Asset Value, Beginning of Period $12.21 $12.20 $12.01 $11.34 $11.71 $11.49
Investment Operations            
Net Investment Income1 .149 .305 .337 .364 .378 .384
Net Realized and Unrealized Gain (Loss) on Investments (1.169) .107 .230 .695 (.314) .282
Total from Investment Operations (1.020) .412 .567 1.059 .064 .666
Distributions            
Dividends from Net Investment Income (.149) (.304) (.335) (.364) (.378) (.384)
Distributions from Realized Capital Gains (.091) (.098) (.042) (.025) (.056) (.062)
Total Distributions (.240) (.402) (.377) (.389) (.434) (.446)
Net Asset Value, End of Period $10.95 $12.21 $12.20 $12.01 $11.34 $11.71
Total Return2 -8.46% 3.43% 4.82% 9.46% 0.56% 5.87%
Ratios/Supplemental Data            
Net Assets, End of Period (Millions) $4,165 $5,097 $4,725 $4,648 $3,956 $3,929
Ratio of Total Expenses to Average Net Assets 0.09% 0.09% 0.09% 0.09% 0.09% 0.09%
Ratio of Net Investment Income to Average Net Assets 2.60% 2.49% 2.81% 3.08% 3.29% 3.28%
Portfolio Turnover Rate 31% 40% 34% 15% 18% 16%
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.
64

 

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. Many municipalities insure repayment of their bonds. The insurance does not guarantee the market value of the municipal bonds. Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and 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 securities 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 Statement of Assets and Liabilities. 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.
65

 

New York Long-Term Tax-Exempt Fund
During the six months ended May 31, 2022, the fund’s average investments in long and short futures contracts represented 1% and 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.
3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its income. The fund’s tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund’s tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund’s financial statements.
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 $4.4 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 and are 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, which 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 an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate 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, 2022, the fund did not utilize the credit facilities or the Interfund Lending Program.
66

 

New York Long-Term Tax-Exempt Fund
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.
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, 2022, the fund had contributed to Vanguard capital in the amount of $167,000, representing less than 0.01% of the fund’s net assets and 0.07% of Vanguard’s capital received pursuant to the FSA. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
C. Various inputs may be used to determine the value of the fund’s investments and derivatives. 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 and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
67

 

New York Long-Term Tax-Exempt Fund
The following table summarizes the market value of the fund’s investments and derivatives as of May 31, 2022, based on the inputs used to value them:
  Level 1
($000) 		Level 2
($000) 		Level 3
($000) 		Total
($000)
Investments         
Assets        
Tax-Exempt Municipal Bonds — 4,585,382 — 4,585,382
Derivative Financial Instruments         
Assets        
Futures Contracts1 490 — — 490
Liabilities        
Futures Contracts1 130 — — 130
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities.
D. As of May 31, 2022, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:
  Amount
($000)
Tax Cost 4,781,932
Gross Unrealized Appreciation 31,685
Gross Unrealized Depreciation (227,875)
Net Unrealized Appreciation (Depreciation) (196,190)
E. During the six months ended May 31, 2022, the fund purchased $1,582,108,000 of investment securities and sold $2,103,718,000 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, 2022, such purchases were $57,730,000 and sales were $126,960,000, resulting in net realized gain (loss) of $0; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.
68

 

New York Long-Term Tax-Exempt Fund
F. Capital share transactions for each class of shares were:
    
  Six Months Ended
May 31, 2022 		  Year Ended
November 30, 2021
  Amount
($000) 		Shares
(000) 		  Amount
($000) 		Shares
(000)
Investor Shares          
Issued 38,396 3,341   147,854 12,091
Issued in Lieu of Cash Distributions 8,662 742   14,680 1,203
Redeemed (100,806) (8,887)   (129,470) (10,595)
Net Increase (Decrease)—Investor Shares (53,748) (4,804)   33,064 2,699
Admiral Shares          
Issued 525,777 46,800   809,102 66,130
Issued in Lieu of Cash Distributions 73,129 6,265   119,380 9,784
Redeemed (1,004,052) (89,944)   (558,902) (45,799)
Net Increase (Decrease)—Admiral Shares (405,146) (36,879)   369,580 30,115
G. Management has determined that no events or transactions occurred subsequent to May 31, 2022, that would require recognition or disclosure in these financial statements.
69

 

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 decisions 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 periodic reports throughout the year, which included information about each fund’s performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Portfolio Review Department’s ongoing assessment of the advisor.
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 decisions.
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.
70

 

Cost
The board concluded that each fund’s expense ratio was below the average expense ratio charged by funds in its peer group and that each fund’s advisory expenses were also 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.
71

 

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 January 1, 2021, through December 31, 2021 (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.
72

 

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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.
© 2022 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Q762 072022

 

 

 

Item 2: Code of Ethics.

 

Not applicable.

 

Item 3: Audit Committee Financial Expert.

 

Not applicable.

 

Item 4: Principal Accountant Fees and Services.

 

Not applicable.

 

Item 5: Audit Committee of Listed Registrants.

 

Not applicable.

 

 

 

 

Item 6: Investments.

 

Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.

 

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 the 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)(1) Not applicable.
(a)(2) Certifications filed herewith.
(b) Certifications filed herewith.

 

 

 

 

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 25, 2022

 

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 25, 2022

 

  VANGUARD NEW YORK TAX-FREE FUNDS  
     
BY: /s/ CHRISTINE BUCHANAN*  
  CHRISTINE BUCHANAN  
  CHIEF FINANCIAL OFFICER  

 

Date: July 25, 2022

 

* By: /s/ Anne E. Robinson  

 

Anne E. Robinson, pursuant to a Power of Attorney filed on November 29, 2021 (see File Number 33-64845), a Power of Attorney filed on October 12, 2021 (see File Number 33-23444), and a Power of Attorney filed on August 26, 2021 (see file Number 811-02652), Incorporated by Reference.

 

 

 

 EX-99.CERT 2 tm2220095d6_ex99-cert.htm EXHIBIT 99.CERT

 

Exhibit 99.CERT

 

CERTIFICATIONS

 

I, Mortimer J. Buckley, certify that:

 

1. I have reviewed this report on Form N-CSR of Vanguard New York Tax-Free Funds;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: July 25, 2022  
  /s/ Mortimer J. Buckley
  Mortimer J. Buckley
  Chief Executive Officer

 

 

 

 

CERTIFICATIONS

 

I, Christine Buchanan, certify that:

 

1. I have reviewed this report on Form N-CSR of Vanguard New York Tax-Free Funds;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: July 25, 2022  
  /s/ Christine Buchanan
  Christine Buchanan
  Chief Financial Officer

 

 

 

 EX-99.906 CERT 3 tm2220095d6_ex99-906cert.htm EXHIBIT 99.906 CERT

 

Exhibit 99.906CERT

 

Certification Pursuant to 18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

 

Name of Issuer: Vanguard New York Tax-Free Funds

 

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to his knowledge, that:

 

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the issuer.

 

Date:      July 25, 2022  
  /s/ Mortimer J. Buckley
  Mortimer J. Buckley
  Chief Executive Officer

 

 

 

 

Certification Pursuant to 18 U.S.C. Section 1350,

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

 

Name of Issuer: Vanguard New York Tax-Free Funds

 

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to her knowledge, that:

 

1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the issuer.

 

Date:      July 25, 2022  
  /s/ Christine Buchanan
  Christine Buchanan
  Chief Financial Officer

 

 

 

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