NUVEEN NEW YORK AMT-FREE QUALITY MUNICIPAL INCOME FUND

Regulatory Filings • Jan 29, 2018

N-Q 1 d503132dnq.htm NUVEEN NEW YORK AMT-FREE QUALITY MUNICIPAL INCOME FUND Nuveen New York AMT-Free Quality Municipal Income Fund

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21211

Nuveen New York AMT-Free Quality Municipal Income Fund

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive, Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Gifford R. Zimmerman

Vice President and Secretary

333 West Wacker Drive, Chicago, Illinois 60606

(Name and address of agent for service)

Registrant’s telephone number, including area code: 312-917-7700

Date of fiscal year end: February 28

Date of reporting period: November 30, 2017

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

NRK

Nuveen New York AMT-Free Quality Municipal Income Fund

Portfolio of Investments November 30, 2017 (Unaudited)

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | LONG-TERM
INVESTMENTS – 159.1% (100.0% of Total Investments) | | | |
| | MUNICIPAL
BONDS – 159.1% (100.0% of Total Investments) | | | |
| | Consumer
Staples  – 10.4% (6.5% of Total Investments) | | | |
| $ 8,000 | Erie
County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, 1st Subordinate Series 2005B, 0.000%, 6/01/47 | 2/18
at 100.00 | N/R | $ 1,016,240 |
| | Erie
County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005A: | | | |
| 27,580 | 5.000%,
6/01/38 | 2/18
at 100.00 | BB+ | 27,581,655 |
| 13,500 | 5.000%,
6/01/45 | 2/18
at 100.00 | B+ | 12,917,205 |
| 10,000 | Erie
County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2005C, 0.000%, 6/01/50 | 2/18
at 100.00 | N/R | 872,300 |
| 1,310 | Nassau
County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Refunding Series 2006A-2, 5.250%, 6/01/26 | 1/18
at 100.00 | B- | 1,310,157 |
| 26,865 | Nassau
County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Series 2006A-3, 5.000%, 6/01/35 | 1/18
at 100.00 | B- | 26,556,321 |
| 4,680 | New
York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Turbo Term Series 2016A. Including 2016A-1, 2016A-2A and 2016A-2B, 5.000%, 6/01/51 | 6/26
at 100.00 | N/R | 4,814,316 |
| | TSASC
Inc., New York, Tobacco Asset-Backed Bonds, Series 2006: | | | |
| 4,135 | 5.000%,
6/01/45 | 6/27
at 100.00 | B+ | 4,248,216 |
| 49,715 | 5.000%,
6/01/48 | 6/27
at 100.00 | N/R | 50,579,544 |
| 145,785 | Total
Consumer Staples | | | 129,895,954 |
| | Education
and Civic Organizations – 28.6% (18.0% of Total Investments) | | | |
| 3,150 | Brooklyn
Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Refunding Series 2016A, 5.000%, 7/15/42 | 1/27
at 100.00 | BBB- | 3,500,280 |
| | Brooklyn
Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009: | | | |
| 9,995 | 0.000%,
7/15/45 | No
Opt. Call | BBB- | 3,267,665 |
| 29,145 | 0.000%,
7/15/47 | No
Opt. Call | BBB- | 8,736,214 |
| | Build
New York City Resource Corporation, New York, Revenue Bonds, Bronx Charter School for Excellence, Series 2013A: | | | |
| 250 | 5.000%,
4/01/33 | 4/23
at 100.00 | BBB- | 265,318 |
| 2,535 | 5.500%,
4/01/43 | 4/23
at 100.00 | BBB- | 2,630,595 |
| | Build
New York City Resource Corporation, New York, Revenue Bonds, Metropolitan College of New York, Series 2014: | | | |
| 1,000 | 5.250%,
11/01/29 | 11/24
at 100.00 | BB | 1,076,780 |
| 5,705 | 5.250%,
11/01/34 | 11/24
at 100.00 | BB | 6,018,661 |
| 1,500 | 5.000%,
11/01/39 | 11/24
at 100.00 | BB | 1,522,665 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Education
and Civic Organizations (continued) | | | |
| | Build
New York City Resource Corporation, New York, Revenue Bonds, South Bronx Charter School for International Cultures and the Arts Project, Series 2013A: | | | |
| $ 2,690 | 5.000%,
4/15/33 | 4/23
at 100.00 | BB+ | $ 2,777,909 |
| 4,090 | 5.000%,
4/15/43 | 4/23
at 100.00 | BB+ | 4,170,655 |
| 3,655 | Dobbs
Ferry Local Development Corporation, New York, Revenue Bonds, Mercy College Project, Series 2014, 5.000%, 7/01/44 | 7/24
at 100.00 | A | 4,174,814 |
| 4,990 | Dormitory
Authority of the State of New York, General Revenue Bonds, Saint Johns University, Series 2013A, 5.000%, 7/01/44 | 7/23
at 100.00 | A- | 5,514,898 |
| 1,655 | Dormitory
Authority of the State of New York, General Revenue Bonds, Saint Johns University, Series 2015A, 5.000%, 7/01/37 | 7/25
at 100.00 | A- | 1,874,172 |
| 4,265 | Dormitory
Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of Technology, Series 2007, 5.250%, 7/01/34  –  FGIC Insured | No
Opt. Call | A3 | 5,128,065 |
| 6,000 | Dormitory
Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of Medicine, Series 1994A, 5.150%, 7/01/24  –  NPFG Insured | No
Opt. Call | A- | 6,987,480 |
| | Dormitory
Authority of the State of New York, Insured Revenue Bonds, Touro College and University System, Series 2014A: | | | |
| 1,685 | 5.250%,
1/01/34 | 7/24
at 100.00 | BBB- | 1,839,902 |
| 2,185 | 5.500%,
1/01/39 | 7/24
at 100.00 | BBB- | 2,407,258 |
| 2,820 | 5.500%,
1/01/44 | 7/24
at 100.00 | BBB- | 3,098,221 |
| 14,585 | Dormitory
Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Refunding Series 2013A, 5.000%, 7/01/27 | 7/23
at 100.00 | Aa3 | 16,923,996 |
| 4,750 | Dormitory
Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2011A, 5.000%, 7/01/41 | 7/21
at 100.00 | Aa2 | 5,192,795 |
| 3,750 | Dormitory
Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2012A, 5.000%, 7/01/37 | 7/22
at 100.00 | Aa2 | 4,147,725 |
| | Dormitory
Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2015A: | | | |
| 3,095 | 5.000%,
7/01/31 | 7/25
at 100.00 | Aa3 | 3,604,994 |
| 3,465 | 5.000%,
7/01/33 | 7/25
at 100.00 | Aa3 | 3,994,764 |
| | Dormitory
Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2017A: | | | |
| 2,930 | 5.000%,
7/01/34 | 7/27
at 100.00 | Aa3 | 3,451,892 |
| 2,000 | 5.000%,
7/01/36 | 7/27
at 100.00 | Aa3 | 2,341,620 |
| 7,500 | 5.000%,
7/01/37 | 7/27
at 100.00 | Aa3 | 8,760,600 |
| 2,930 | 5.000%,
7/01/42 | 7/27
at 100.00 | Aa3 | 3,403,898 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A: | | | |
| 405 | 5.000%,
7/01/25  –  NPFG Insured | 2/18
at 100.00 | A3 | 406,191 |
| 1,320 | 5.000%,
7/01/37  –  NPFG Insured | 2/18
at 100.00 | A3 | 1,323,815 |
| 1,000 | Dormitory
Authority of the State of New York, Revenue Bonds, Columbia University, Series 2011A, 5.000%, 10/01/41 | 4/21
at 100.00 | AAA | 1,100,080 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, Convent of the Sacred Heart, Series 2011: | | | |
| 1,000 | 5.625%,
11/01/35  –  AGM Insured | 5/21
at 100.00 | AA | 1,117,440 |
| 5,980 | 5.750%,
11/01/40  –  AGM Insured | 5/21
at 100.00 | AA | 6,698,377 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Education
and Civic Organizations (continued) | | | |
| $ 12,970 | Dormitory
Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount Sinai, Refunding Series 2015A, 5.000%, 7/01/40 | 7/25
at 100.00 | A- | $ 14,363,497 |
| 1,000 | Dormitory
Authority of the State of New York, Revenue Bonds, Marymount Manhattan College, Series 2009, 5.250%, 7/01/29 | 7/19
at 100.00 | Baa2 | 1,045,510 |
| 3,250 | Dormitory
Authority of the State of New York, Revenue Bonds, New York University, Series 1998A, 6.000%, 7/01/18  –  NPFG Insured | No
Opt. Call | Aa2 | 3,338,692 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, New York University, Series 2001-1: | | | |
| 1,500 | 5.500%,
7/01/24  –  AMBAC Insured | No
Opt. Call | Aa2 | 1,821,930 |
| 4,000 | 5.500%,
7/01/40  –  AMBAC Insured | No
Opt. Call | Aa2 | 5,443,240 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, New York University, Series 2015A: | | | |
| 9,000 | 5.000%,
7/01/34 | 7/25
at 100.00 | Aa2 | 10,415,970 |
| 8,955 | 5.000%,
7/01/45 | 7/25
at 100.00 | Aa2 | 10,199,387 |
| 10,850 | Dormitory
Authority of the State of New York, Revenue Bonds, New York University, Series 2016A, 5.000%, 7/01/32 | 7/26
at 100.00 | Aa2 | 12,812,331 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, New York University, Series 2017A: | | | |
| 4,000 | 5.000%,
7/01/38 | 7/27
at 100.00 | Aa2 | 4,694,160 |
| 5,620 | 5.000%,
7/01/39 | 7/27
at 100.00 | Aa2 | 6,595,295 |
| 2,800 | Dormitory
Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2008C, 5.000%, 7/01/37 | 7/20
at 100.00 | Aa1 | 3,033,268 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell University, Series 2010A: | | | |
| 5,000 | 5.000%,
7/01/35 | 7/20
at 100.00 | Aa1 | 5,417,900 |
| 11,560 | 5.000%,
7/01/40 | 7/20
at 100.00 | Aa1 | 12,468,385 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, Pratt Institute, Series 2015A: | | | |
| 800 | 5.000%,
7/01/39 | 7/24
at 100.00 | A3 | 882,760 |
| 1,500 | 5.000%,
7/01/44 | 7/24
at 100.00 | A3 | 1,641,225 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, Rochester Institute of Technology, Series 2006A: | | | |
| 2,500 | 5.250%,
7/01/20  –  AMBAC Insured | No
Opt. Call | A1 | 2,727,950 |
| 2,000 | 5.250%,
7/01/21  –  AMBAC Insured | No
Opt. Call | A1 | 2,241,540 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, Saint Joseph's College, Series 2010: | | | |
| 1,815 | 5.250%,
7/01/25 | 2/18
at 100.00 | Ba1 | 1,818,703 |
| 2,000 | 5.250%,
7/01/35 | 7/20
at 100.00 | Ba1 | 2,074,980 |
| 8,925 | Dormitory
Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics & Technology, Series 2016A, 144A, 5.500%, 12/01/36 | 12/26
at 100.00 | BB- | 9,096,092 |
| 1,000 | Dutchess
County Local Development Corporation, New York, Revenue Bonds, Marist College Project, Series 2013A, 5.000%, 7/01/39 | 7/23
at 100.00 | A2 | 1,116,640 |
| 7,695 | Glen
Cove Local Economic Assistance Corporation, New York, Revenue Bonds, Garvies Point Public Improvement Project, Capital Appreciation Series 2016C, 0.000%, 1/01/55 (4) | 1/34
at 100.00 | N/R | 6,304,129 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Education
and Civic Organizations (continued) | | | |
| | Hempstead
Town Local Development Corporation, New York, Revenue Bonds, Adelphi University Project, Series 2013: | | | |
| $ 1,785 | 5.000%,
9/01/38 | 9/23
at 100.00 | A- | $ 1,996,897 |
| 1,785 | 5.000%,
9/01/43 | 9/23
at 100.00 | A- | 1,978,887 |
| 1,400 | Monroe
County Industrial Development Corporation, New York, Revenue Bonds, Saint John Fisher College, Series 2014A, 5.500%, 6/01/39 | 6/24
at 100.00 | A- | 1,629,264 |
| | New
Rochelle Corporation, New York, Local Development Revenue Bonds, Iona College Project, Series 2015A: | | | |
| 325 | 5.000%,
7/01/40 | 7/25
at 100.00 | BBB | 352,232 |
| 350 | 5.000%,
7/01/45 | 7/25
at 100.00 | BBB | 377,412 |
| | New
York City Industrial Development Agency, New York, Payment in Lieu of Taxes Revenue Bonds, Queens Baseball Stadium Project, Series 2009: | | | |
| 1,000 | 6.125%,
1/01/29  –  AGC Insured | 1/19
at 100.00 | AA | 1,049,340 |
| 1,000 | 6.375%,
1/01/39  –  AGC Insured | 1/19
at 100.00 | AA | 1,049,020 |
| | New
York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball Stadium Project, Series 2006: | | | |
| 6,815 | 5.000%,
1/01/31  –  AMBAC Insured | 2/18
at 100.00 | BBB | 6,832,106 |
| 5,000 | 5.000%,
1/01/36  –  AMBAC Insured | 2/18
at 100.00 | BBB | 5,081,450 |
| 1,030 | 4.750%,
1/01/42  –  AMBAC Insured | 2/18
at 100.00 | BBB | 1,032,256 |
| 14,500 | 5.000%,
1/01/46  –  AMBAC Insured | 2/18
at 100.00 | BBB | 14,699,810 |
| 4,730 | New
York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project PILOT, Series 2009A, 7.000%, 3/01/49  –  AGC Insured | 3/19
at 100.00 | AA | 5,034,707 |
| | New
York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium Project, Series 2006: | | | |
| 4,280 | 5.000%,
3/01/31  –  FGIC Insured | 2/18
at 100.00 | Baa1 | 4,309,960 |
| 31,650 | 5.000%,
3/01/36  –  NPFG Insured | 2/18
at 100.00 | A3 | 32,054,170 |
| 20,210 | 4.500%,
3/01/39  –  FGIC Insured | 2/18
at 100.00 | Baa1 | 20,226,976 |
| 3,400 | New
York City Trust for Cultural Resources, New York, Revenue Bonds, Whitney Museum of American Art, Series 2011, 5.000%, 7/01/31 | 1/21
at 100.00 | AA | 3,709,060 |
| | Niagara
Area Development Corporation, New York, Niagara University Project, Series 2012A: | | | |
| 600 | 5.000%,
5/01/35 | 5/22
at 100.00 | BBB+ | 661,968 |
| 1,000 | 5.000%,
5/01/42 | 5/22
at 100.00 | BBB+ | 1,095,830 |
| 1,450 | Onondaga
Civic Development Corporation, New York, Revenue Bonds, Le Moyne College Project, Series 2012, 5.000%, 7/01/42 | 7/22
at 100.00 | Baa2 | 1,527,995 |
| 1,000 | Onondaga
County Trust For Cultural Resources, New York, Revenue Bonds, Syracuse University Project, Series 2011, 5.000%, 12/01/36 | 12/21
at 100.00 | AA- | 1,107,650 |
| 3,700 | Troy
Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Series 2010A, 5.125%, 9/01/40 | 9/20
at 100.00 | A3 | 3,981,163 |
| 357,775 | Total
Education and Civic Organizations | | | 356,801,476 |
| | Financials – 1.6%
(1.0% of Total Investments) | | | |
| 1,615 | New
York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue, Series 2005, 5.250%, 10/01/35 | No
Opt. Call | A | 2,044,283 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Financials (continued) | | | |
| $ 13,835 | New
York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue, Series 2007, 5.500%, 10/01/37 | No
Opt. Call | A | $ 18,189,428 |
| 15,450 | Total
Financials | | | 20,233,711 |
| | Health
Care – 3.3% (2.1% of Total Investments) | | | |
| 1,250 | Build
New York City Resource Corporation, New York, Revenue Bonds, New York Methodist Hospital Project, Refunding Series 2014, 5.000%, 7/01/27 | 7/24
at 100.00 | A3 | 1,428,150 |
| 2,455 | Dormitory
Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, Hospital for Special Surgery, Series 2009, 6.250%, 8/15/34 | 8/19
at 100.00 | AA+ | 2,669,101 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017, 144A: | | | |
| 1,000 | 5.000%,
12/01/34 | 6/27
at 100.00 | BBB- | 1,103,250 |
| 300 | 5.000%,
12/01/36 | 6/27
at 100.00 | BBB- | 328,962 |
| 900 | Dutchess
County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems Inc., Series 2010A, 5.750%, 7/01/40  –  AGM Insured | 7/20
at 100.00 | A- | 995,049 |
| 7,940 | Dutchess
County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B, 5.000%, 7/01/46 | 7/26
at 100.00 | A- | 8,985,142 |
| 1,875 | Monroe
County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue Bonds, Unity Hospital of Rochester Project, Series 2010, 5.750%, 8/15/35 | 2/21
at 100.00 | AA | 2,122,181 |
| 3,900 | Monroe
County Industrial Development Corporation, New York, Revenue Bonds, Rochester General Hospital Project, Series 2013A, 5.000%, 12/01/42 | 12/22
at 100.00 | A- | 4,224,168 |
| 2,800 | Monroe
County Industrial Development Corporation, New York, Revenue Bonds, Rochester General Hospital Project, Series 2017, 5.000%, 12/01/46 | 12/26
at 100.00 | A- | 3,133,508 |
| 5,585 | Suffolk
County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28 | 7/21
at 100.00 | A- | 6,138,697 |
| 565 | Westchester
County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series 2010-C2, 6.125%, 11/01/37 | 11/20
at 100.00 | BBB | 623,432 |
| 2,260 | Westchester
County Local Development Corporation, New York, Revenue Bonds, Westchester Medical Center Obligated Group Project, Refunding Series 2016, 5.000%, 11/01/46 | 11/25
at 100.00 | BBB | 2,459,287 |
| 5,515 | Yonkers
Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, Series 2001A, 7.125%, 7/01/31 | 1/18
at 100.00 | BB- | 5,518,530 |
| 1,955 | Yonkers
Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, Series 2001B, 7.125%, 7/01/31 | 2/18
at 100.00 | BB- | 1,956,251 |
| 38,300 | Total
Health Care | | | 41,685,708 |
| | Housing/Multifamily – 0.1%
(0.1% of Total Investments) | | | |
| 1,040 | New
York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series 2010D-1A, 5.000%, 11/01/42 | 5/20
at 100.00 | AA+ | 1,106,841 |
| 450 | New
York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009B, 4.500%, 11/01/29 | 5/19
at 100.00 | Aa2 | 459,576 |
| 25 | New
York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project, Series 1996A, 6.125%, 11/01/20  –  AGM Insured | 5/18
at 100.00 | AA | 25,068 |
| 1,515 | Total
Housing/Multifamily | | | 1,591,485 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Industrials – 3.3%
(2.1% of Total Investments) | | | |
| $ 38,030 | New
York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade Center Project, Class 1 Series 2014, 144A, 5.000%, 11/15/44 | 11/24
at 100.00 | N/R | $ 40,913,054 |
| | Long-Term
Care – 0.1% (0.1% of Total Investments) | | | |
| 1,225 | Suffolk
County Economic Development Corporation, New York, Revenue Bonds, Peconic Landing At Southold, Inc. Project, Refunding Series 2010, 6.000%, 12/01/40 | 12/20
at 100.00 | BBB- | 1,334,540 |
| | Tax
Obligation/General – 10.8% (6.8% of Total Investments) | | | |
| 15 | Nassau
County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%, 10/01/29  –  AGC Insured | 10/19
at 100.00 | AA | 15,866 |
| | Nassau
County, New York, General Obligation Bonds, General Improvement Series 2016B: | | | |
| 6,955 | 5.000%,
10/01/27 | 10/26
at 100.00 | A+ | 8,336,263 |
| 4,590 | 5.000%,
10/01/28 | 10/26
at 100.00 | A+ | 5,477,476 |
| 5,030 | Nassau
County, New York, General Obligation Bonds, General Improvement Series 2016C, 5.000%, 4/01/33 | 4/26
at 100.00 | A+ | 5,822,225 |
| | Nassau
County, New York, General Obligation Bonds, General Improvement Series, Refunding 2016A: | | | |
| 5,860 | 5.000%,
1/01/31 | 1/26
at 100.00 | A+ | 6,808,793 |
| 500 | 5.000%,
1/01/38 | 1/26
at 100.00 | A+ | 569,690 |
| 1,200 | New
York City, New York, General Obligation Bonds, Fiscal 2009 Series E, 5.000%, 8/01/28 | 8/19
at 100.00 | AA | 1,265,676 |
| | New
York City, New York, General Obligation Bonds, Fiscal 2012 Series A-1: | | | |
| 6,085 | 5.000%,
10/01/31 | 10/22
at 100.00 | AA | 6,899,477 |
| 1,000 | 5.000%,
10/01/33 | 10/22
at 100.00 | AA | 1,127,970 |
| 1,570 | 5.000%,
10/01/34 | 10/22
at 100.00 | AA | 1,768,621 |
| 8,665 | New
York City, New York, General Obligation Bonds, Fiscal 2012 Series B, 5.000%, 8/01/30 | 8/22
at 100.00 | AA | 9,790,757 |
| | New
York City, New York, General Obligation Bonds, Fiscal 2012 Series I: | | | |
| 1,000 | 5.000%,
8/01/30 | 8/22
at 100.00 | AA | 1,129,920 |
| 2,000 | 5.000%,
8/01/31 | 8/22
at 100.00 | AA | 2,257,960 |
| | New
York City, New York, General Obligation Bonds, Fiscal 2013 Series F-1: | | | |
| 5,000 | 5.000%,
3/01/29 | 3/23
at 100.00 | AA | 5,702,650 |
| 3,400 | 5.000%,
3/01/31 | 3/23
at 100.00 | AA | 3,859,748 |
| 2,190 | 5.000%,
3/01/32 | 3/23
at 100.00 | AA | 2,482,650 |
| 1,000 | 5.000%,
3/01/33 | 3/23
at 100.00 | AA | 1,133,630 |
| 3,735 | New
York City, New York, General Obligation Bonds, Fiscal 2014 Series A-1, 5.000%, 8/01/26 | 8/23
at 100.00 | AA | 4,333,720 |
| 8,000 | New
York City, New York, General Obligation Bonds, Fiscal 2014 Series D-1, 5.000%, 8/01/30 | 8/23
at 100.00 | AA | 9,185,440 |
| 7,665 | New
York City, New York, General Obligation Bonds, Fiscal 2015 Series A, 5.000%, 8/01/33 | 8/24
at 100.00 | AA | 8,869,018 |
| 12,600 | New
York City, New York, General Obligation Bonds, Fiscal 2017 Series B-1, 5.000%, 12/01/41 | 12/26
at 100.00 | AA | 14,626,962 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Tax
Obligation/General (continued) | | | |
| | New
York City, New York, General Obligation Bonds, Fiscal 2018 Series B-1: | | | |
| $ 7,140 | 5.000%,
10/01/35 | 10/27
at 100.00 | AA | $ 8,433,697 |
| 3,410 | 5.000%,
10/01/38 | 10/27
at 100.00 | AA | 4,005,522 |
| 5 | New
York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/20  –  AGM Insured | 2/18
at 100.00 | AA | 5,015 |
| | New
York City, New York, General Obligation Bonds, Series 2011D-I: | | | |
| 2,785 | 5.000%,
10/01/30 | 10/21
at 100.00 | AA | 3,096,558 |
| 2,880 | 5.000%,
10/01/34 | 10/21
at 100.00 | AA | 3,187,584 |
| 3,345 | New
York City, New York, General Obligation Bonds, Subseries G-1 Fiscal Series 2012, 5.000%, 4/01/28 | 4/22
at 100.00 | AA | 3,754,261 |
| | Rensselaer
County, New York, General Obligation Bonds, Series 1991: | | | |
| 960 | 6.700%,
2/15/18  –  AMBAC Insured | No
Opt. Call | AA | 970,109 |
| 960 | 6.700%,
2/15/19  –  AMBAC Insured | No
Opt. Call | AA | 1,017,917 |
| 960 | 6.700%,
2/15/20  –  AMBAC Insured | No
Opt. Call | AA | 1,067,914 |
| 747 | 6.700%,
2/15/21  –  AMBAC Insured | No
Opt. Call | AA | 868,305 |
| | Rochester,
New York, General Obligation Bonds, Series 1999: | | | |
| 735 | 5.250%,
10/01/20  –  NPFG Insured | No
Opt. Call | AA- | 809,220 |
| 735 | 5.250%,
10/01/21  –  NPFG Insured | No
Opt. Call | AA- | 831,212 |
| 730 | 5.250%,
10/01/22  –  NPFG Insured | No
Opt. Call | AA- | 845,508 |
| 730 | 5.250%,
10/01/23  –  NPFG Insured | No
Opt. Call | AA- | 864,670 |
| 730 | 5.250%,
10/01/24  –  NPFG Insured | No
Opt. Call | AA- | 865,276 |
| 730 | 5.250%,
10/01/25  –  NPFG Insured | No
Opt. Call | AA- | 878,752 |
| 725 | 5.250%,
10/01/26  –  NPFG Insured | No
Opt. Call | AA- | 883,913 |
| 1,145 | Three
Village Central School District, Brookhaven and Smithtown, Suffolk County, New York, General Obligation Bonds, Refunding Series 2005, 5.000%, 6/01/18  –  FGIC Insured | No
Opt. Call | Aa2 | 1,166,205 |
| 117,512 | Total
Tax Obligation/General | | | 135,016,150 |
| | Tax
Obligation/Limited – 42.2% (26.5% of Total Investments) | | | |
| 7,000 | Dormitory
Authority of the State of New York State Personal Income tax Revenue Bonds (General Purpose), Series 2017A, 5.000%, 2/15/37 | 2/27
at 100.00 | AAA | 8,203,650 |
| 360 | Dormitory
Authority of the State of New York, Insured Revenue Bonds, 853 Schools Program - Anderson School, Series 1999E, Issue 2, 5.750%, 7/01/19  –  AMBAC Insured | 1/18
at 100.00 | N/R | 360,968 |
| 3,390 | Dormitory
Authority of the State of New York, Insured Revenue Bonds, Special Act School District Program, Series 1999, 5.750%, 7/01/19  –  NPFG Insured | 1/18
at 100.00 | A3 | 3,401,187 |
| 105 | Dormitory
Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2009A, 5.625%, 10/01/29  –  AGC Insured | 10/19
at 100.00 | AA | 112,234 |
| 1,000 | Dormitory
Authority of the State of New York, Revenue Bonds, State University Educational Facilities, Series 1993A, 5.500%, 5/15/19  –  AMBAC Insured | No
Opt. Call | Aa2 | 1,029,730 |
| 940 | Dormitory
Authority of the State of New York, Second General Resolution Consolidated Revenue Bonds, City University System, Series 1993A, 5.750%, 7/01/18  –  AGM Insured | No
Opt. Call | AA | 965,032 |
| | Dormitory
Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2011C: | | | |
| 995 | 5.000%,
3/15/34 | 3/21
at 100.00 | AAA | 1,093,953 |
| 24,000 | 5.000%,
3/15/41 | 3/21
at 100.00 | AAA | 26,186,640 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Tax
Obligation/Limited (continued) | | | |
| | Dormitory
Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2012D: | | | |
| $ 7,550 | 5.000%,
2/15/33 | 2/22
at 100.00 | AAA | $ 8,418,552 |
| 10,000 | 5.000%,
2/15/40 | 2/22
at 100.00 | AAA | 11,078,300 |
| | Dormitory
Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014A: | | | |
| 5,000 | 5.000%,
2/15/29 | 2/24
at 100.00 | AAA | 5,816,200 |
| 10,000 | 5.000%,
2/15/30 | 2/24
at 100.00 | AAA | 11,594,700 |
| 7,000 | Dormitory
Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2014C, Group C, 5.000%, 3/15/44 | 3/24
at 100.00 | AAA | 7,902,510 |
| | Dormitory
Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2015A: | | | |
| 1,500 | 5.000%,
3/15/31 | 3/25
at 100.00 | AAA | 1,756,860 |
| 2,500 | 5.000%,
3/15/33 | 3/25
at 100.00 | AAA | 2,908,150 |
| 28,280 | Dormitory
Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2013A, 5.000%, 3/15/43 | 3/23
at 100.00 | AAA | 31,637,119 |
| 3,000 | Dormitory
Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2014A, 5.000%, 3/15/34 | 3/24
at 100.00 | AAA | 3,463,470 |
| 12,045 | Dormitory
Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2015B. Group A,B&C, 5.000%, 3/15/36 | 9/25
at 100.00 | AAA | 14,013,635 |
| 10,000 | Dormitory
Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2017A Group C, 5.000%, 3/15/43 | 3/27
at 100.00 | AAA | 11,724,200 |
| 1,080 | Erie
County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District, Refunding Series 2013A, 5.000%, 5/01/28 | 5/23
at 100.00 | AA | 1,235,153 |
| | Government
of Guam, Business Privilege Tax Bonds, Refunding Series 2015D: | | | |
| 5,045 | 5.000%,
11/15/27 | 11/25
at 100.00 | A | 5,692,778 |
| 6,770 | 5.000%,
11/15/34 | 11/25
at 100.00 | A | 7,405,568 |
| 29,200 | Hudson
Yards Infrastructure Corporation, New York, Revenue Bonds, Second Indenture Fiscal 2017 Series A, 5.000%, 2/15/42 | 2/27
at 100.00 | Aa3 | 33,913,172 |
| | Hudson
Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A: | | | |
| 6,000 | 5.250%,
2/15/47 | 2/21
at 100.00 | AA- | 6,557,940 |
| 1,850 | 5.000%,
2/15/47  –  AGM Insured | 2/21
at 100.00 | AA | 2,004,845 |
| 9,175 | 5.750%,
2/15/47 | 2/21
at 100.00 | AA- | 10,298,846 |
| | Metropolitan
Transportation Authority, New York, State Service Contract Refunding Bonds, Series 2002A: | | | |
| 1,000 | 5.750%,
7/01/18  –  AGM Insured | No
Opt. Call | AA | 1,026,040 |
| 9,000 | 5.750%,
7/01/18  –  AGM Insured (UB) | No
Opt. Call | AA | 9,234,360 |
| 3,675 | Monroe
County Industrial Development Agency, New York, School Facility Revenue Bonds, Rochester Schools Modernization Project, Series 2013, 5.000%, 5/01/28 | 5/23
at 100.00 | AA | 4,206,993 |
| | New
York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-1: | | | |
| 5,400 | 5.000%,
7/15/33 | 1/25
at 100.00 | AA | 6,248,016 |
| 5,360 | 5.000%,
7/15/43 | 1/25
at 100.00 | AA | 6,164,161 |
| 11,000 | New
York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-2, 5.000%, 7/15/40 | 7/25
at 100.00 | AA | 12,779,690 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Tax
Obligation/Limited (continued) | | | |
| $ 7,500 | New
York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2016S-1, 4.000%, 7/15/40 | 1/26
at 100.00 | AA | $ 7,969,725 |
| | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2012 Series E-1: | | | |
| 6,225 | 5.000%,
2/01/37 | 2/22
at 100.00 | AAA | 6,911,244 |
| 24,155 | 5.000%,
2/01/42 | 2/22
at 100.00 | AAA | 26,706,251 |
| 32,500 | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2012 Series F-1, 5.000%, 5/01/39 | 5/22
at 100.00 | AAA | 36,302,500 |
| 5,100 | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2013 Series F-1, 5.000%, 2/01/29 | 2/23
at 100.00 | AAA | 5,803,290 |
| 13,530 | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2014 Series D-1, 5.000%, 2/01/37 | 2/24
at 100.00 | AAA | 15,399,440 |
| | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2015 Series B-1: | | | |
| 5,000 | 5.000%,
8/01/33 | 8/24
at 100.00 | AAA | 5,792,100 |
| 3,960 | 5.000%,
8/01/35 | 8/24
at 100.00 | AAA | 4,571,503 |
| 9,325 | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series A-1, 4.000%, 5/01/42 | 5/26
at 100.00 | AAA | 9,913,407 |
| 1,375 | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series E-1, 5.000%, 2/01/35 | 2/27
at 100.00 | AAA | 1,616,615 |
| 3,530 | New
York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2017 Series F-1, 5.000%, 5/01/42 | 5/27
at 100.00 | AAA | 4,120,640 |
| | New
York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Lien Series 2011C: | | | |
| 5,645 | 5.500%,
11/01/35 | 11/20
at 100.00 | AAA | 6,257,878 |
| 1,000 | 5.000%,
11/01/39 | 11/20
at 100.00 | AAA | 1,084,920 |
| 8,490 | New
York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Series 2011-D1, 5.000%, 2/01/35 | 2/21
at 100.00 | AAA | 9,273,712 |
| | New
York City, New York, Educational Construction Fund, Revenue Bonds, Series 2011A: | | | |
| 18,575 | 5.750%,
4/01/33  –  AGM Insured | 4/21
at 100.00 | Aa3 | 20,861,768 |
| 4,000 | 5.750%,
4/01/41 | 4/21
at 100.00 | AA- | 4,465,040 |
| 28,795 | New
York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2005B, 5.500%, 4/01/20  –  AMBAC Insured (5) | No
Opt. Call | AA+ | 31,368,121 |
| | New
York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2010A: | | | |
| 1,600 | 5.000%,
3/15/29 | 9/20
at 100.00 | AAA | 1,738,672 |
| 1,945 | 5.000%,
3/15/30 | 9/20
at 100.00 | AAA | 2,111,900 |
| 5,450 | New
York State Urban Development Corporation, Revenue Refunding Bonds, State Facilities, Series 1995, 5.700%, 4/01/20  –  AGM Insured (UB) (5) | No
Opt. Call | AA | 5,741,030 |
| 12,070 | New
York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, General Purpose Series 2013C, 5.000%, 3/15/32 | 3/23
at 100.00 | AAA | 13,765,111 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Tax
Obligation/Limited (continued) | | | |
| | Puerto
Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A: | | | |
| $ 3,890 | 0.000%,
8/01/41  –  NPFG Insured | No
Opt. Call | A3 | $ 891,316 |
| 13,520 | 0.000%,
8/01/42  –  FGIC Insured | No
Opt. Call | A3 | 2,911,262 |
| 10,000 | 0.000%,
8/01/44  –  NPFG Insured | No
Opt. Call | A3 | 1,901,600 |
| 19,900 | 0.000%,
8/01/45  –  NPFG Insured | No
Opt. Call | A3 | 3,556,329 |
| 201,690 | 0.000%,
8/01/46  –  NPFG Insured | No
Opt. Call | A3 | 33,875,852 |
| 360 | Suffolk
County Industrial Development Agency, New York, Revenue Bonds, Hampton Bays Public Library, Series 1999A, 6.000%, 10/01/19  –  NPFG Insured | 4/18
at 100.00 | A3 | 361,012 |
| 2,730 | Suffolk
County Judicial Facilities Agency, New York, Lease Revenue Bonds, H. Lee Dennison Building, Series 2013, 5.000%, 11/01/33 | 11/23
at 100.00 | BBB+ | 2,989,486 |
| 681,080 | Total
Tax Obligation/Limited | | | 526,696,376 |
| | Transportation – 17.6%
(11.0% of Total Investments) | | | |
| | Buffalo
and Fort Erie Public Bridge Authority, New York, Toll Bridge System Revenue Bonds, Series 2017: | | | |
| 2,250 | 5.000%,
1/01/42 | 1/27
at 100.00 | A+ | 2,601,270 |
| 2,660 | 5.000%,
1/01/47 | 1/27
at 100.00 | A+ | 3,061,607 |
| 10,000 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green Series 2016A-1, 5.000%, 11/15/46 | 5/26
at 100.00 | AA- | 11,402,400 |
| | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green Series 2016B: | | | |
| 1,815 | 4.000%,
11/15/34 | 11/26
at 100.00 | AA- | 1,937,367 |
| 4,000 | 5.000%,
11/15/35 | 11/26
at 100.00 | AA- | 4,647,480 |
| 13,950 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2012F, 5.000%, 11/15/30 | 11/22
at 100.00 | AA- | 15,820,276 |
| 6,090 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2013B, 5.000%, 11/15/30 | 5/23
at 100.00 | AA- | 6,917,266 |
| 1,900 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2013D, 5.250%, 11/15/30 | 11/23
at 100.00 | AA- | 2,242,266 |
| | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E: | | | |
| 1,785 | 5.000%,
11/15/32 | 11/23
at 100.00 | AA- | 2,043,968 |
| 10,000 | 5.000%,
11/15/38 | 11/23
at 100.00 | AA- | 11,373,500 |
| 9,370 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2014B, 5.250%, 11/15/35 | 5/24
at 100.00 | AA- | 10,865,171 |
| 2,700 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2015A-1, 5.000%, 11/15/45 | 5/25
at 100.00 | AA- | 3,075,354 |
| 2,570 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1, 5.000%, 11/15/34 | 11/26
at 100.00 | AA- | 2,986,006 |
| 8,055 | New
York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade Center Project, Series 2011, 5.000%, 11/15/44 | 11/21
at 100.00 | A+ | 8,788,327 |
| 3,400 | New
York State Thruway Authority, General Revenue Bonds, Refunding Series 2007H, 5.000%, 1/01/25  –  FGIC Insured | 1/18
at 100.00 | A | 3,409,214 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Transportation (continued) | | | |
| | New
York State Thruway Authority, General Revenue Junior Indebtedness Obligations, Series 2016A: | | | |
| $ 2,000 | 5.000%,
1/01/36 | 1/26
at 100.00 | A- | $ 2,298,840 |
| 7,500 | 5.000%,
1/01/41 | 1/26
at 100.00 | A- | 8,568,450 |
| 1,285 | 5.000%,
1/01/46 | 1/26
at 100.00 | A- | 1,464,103 |
| 19,230 | 5.000%,
1/01/51 | 1/26
at 100.00 | A- | 21,646,442 |
| 2,350 | 4.000%,
1/01/56 | 1/26
at 100.00 | A- | 2,421,957 |
| 5,000 | 5.250%,
1/01/56 | 1/26
at 100.00 | A- | 5,805,250 |
| | Port
Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Forth Series 2014: | | | |
| 2,100 | 5.000%,
9/01/33 | 9/24
at 100.00 | AA- | 2,429,427 |
| 3,950 | 5.000%,
9/01/34 | 9/24
at 100.00 | AA- | 4,553,718 |
| 1,000 | 5.000%,
9/01/35 | 9/24
at 100.00 | AA- | 1,150,830 |
| 5,155 | 5.000%,
9/01/36 | 9/24
at 100.00 | AA- | 5,915,363 |
| 9,755 | 5.000%,
9/01/39 | 9/24
at 100.00 | AA- | 11,174,353 |
| | Port
Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Eighty-Ninth Series 2015: | | | |
| 3,375 | 5.000%,
5/01/30 | 5/25
at 100.00 | AA- | 3,987,326 |
| 6,535 | 5.000%,
5/01/31 | 5/25
at 100.00 | AA- | 7,686,598 |
| 3,595 | 5.000%,
5/01/35 | 5/25
at 100.00 | AA- | 4,178,181 |
| 10,780 | 5.000%,
5/01/45 | 5/25
at 100.00 | AA- | 12,442,276 |
| 9,000 | Port
Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Ninety-Fourth Series 2015, 5.250%, 10/15/55 | 10/25
at 100.00 | AA- | 10,395,180 |
| 2,000 | Port
Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy Ninth Series 2013, 5.000%, 12/01/43 | 12/23
at 100.00 | AA- | 2,281,400 |
| 2,500 | Port
Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.500%, 12/01/28 | 2/18
at 100.00 | Baa1 | 2,629,875 |
| 2,000 | Triborough
Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2017A, 5.000%, 11/15/37 | 5/27
at 100.00 | AA- | 2,353,920 |
| 7,565 | Triborough
Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2017C-2, 5.000%, 11/15/42 | 11/27
at 100.00 | AA- | 8,900,525 |
| 5,480 | Triborough
Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding Subordinate Lien Series 2002E, 5.500%, 11/15/20  –  NPFG Insured | No
Opt. Call | A+ | 6,079,402 |
| 192,700 | Total
Transportation | | | 219,534,888 |
| | U.S.
Guaranteed – 15.3% (9.6% of Total Investments) (6) | | | |
| 5,315 | Albany
Capital Resource Corporation, New York, St. Peter's Hospital Project, Series 2011, 6.125%, 11/15/30 (Pre-refunded 11/15/20) | 11/20
at 100.00 | N/R
(6) | 5,996,436 |
| | Canton
Capital Resource Corporation, New York, Student Housing Facility Revenue Bonds, Grasse River LLC at SUNY Canton Project Series 2010A: | | | |
| 1,000 | 5.000%,
5/01/40 (Pre-refunded 5/01/20) | 5/20
at 100.00 | AA
(6) | 1,080,740 |
| 1,000 | 5.000%,
5/01/45 (Pre-refunded 5/01/20)  –  AGM Insured | 5/20
at 100.00 | AA
(6) | 1,080,740 |
| 6,215 | Dormitory
Authority of the State of New York, Lease Revenue Bonds, State University Dormitory Facilities, Series 2009A, 5.000%, 7/01/39 (Pre-refunded 7/01/19) | 7/19
at 100.00 | Aa2
(6) | 6,553,282 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | U.S.
Guaranteed (6) (continued) | | | |
| $ 1,000 | Dormitory
Authority of the State of New York, Master BOCES Program Lease Revenue Bonds, Nassau County Board of Cooperative Educational Services, Series 2009, 5.000%, 8/15/28 (Pre-refunded 8/15/19)  –  AGC Insured | 8/19
at 100.00 | AA
(6) | $ 1,057,720 |
| | Dormitory
Authority of the State of New York, Orange Regional Medical Center Obligated Group Revenue Bonds, Series 2008: | | | |
| 4,475 | 6.500%,
12/01/21 (Pre-refunded 12/01/18) | 12/18
at 100.00 | Baa3
(6) | 4,652,434 |
| 6,780 | 6.125%,
12/01/29 (Pre-refunded 12/01/18) | 12/18
at 100.00 | Baa3
(6) | 7,099,202 |
| 14,770 | 6.250%,
12/01/37 (Pre-refunded 12/01/18) | 12/18
at 100.00 | Baa3
(6) | 15,483,539 |
| 3,000 | Dormitory
Authority of the State of New York, Revenue Bonds, Fordham University, Series 2008B, 5.000%, 7/01/38 (Pre-refunded 7/01/18)  –  AGC Insured | 7/18
at 100.00 | A2
(6) | 3,064,920 |
| 875 | Dormitory
Authority of the State of New York, Revenue Bonds, New School University, Series 2010, 5.250%, 7/01/30 (Pre-refunded 7/01/20) | 7/20
at 100.00 | A-
(6) | 954,310 |
| | Dormitory
Authority of the State of New York, Revenue Bonds, New York University, Series 2009A: | | | |
| 10,000 | 5.250%,
7/01/34 (Pre-refunded 7/01/19) | 7/19
at 100.00 | Aa2
(6) | 10,566,900 |
| 3,890 | 5.000%,
7/01/39 (Pre-refunded 7/01/19) | 7/19
at 100.00 | Aa2
(6) | 4,095,470 |
| 13,500 | Dormitory
Authority of the State of New York, Revenue Bonds, New York University, Series 2009B, 5.000%, 7/01/39 (Pre-refunded 7/01/19) | 7/19
at 100.00 | Aa2
(6) | 14,223,870 |
| 4,000 | Dormitory
Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Obligated Group, Series 2011A, 5.000%, 5/01/41 (Pre-refunded 5/01/21) | 5/21
at 100.00 | A
(6) | 4,431,040 |
| 895 | Dormitory
Authority of the State of New York, Revenue Bonds, School Districts Financing Program, Series 2009A, 5.625%, 10/01/29 (Pre-refunded 10/01/19)  –  AGC Insured | 10/19
at 100.00 | AA
(6) | 961,194 |
| | Erie
County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District Project, Series 2008A: | | | |
| 3,540 | 5.750%,
5/01/27 (Pre-refunded 5/01/18)  –  AGM Insured (UB) | 5/18
at 100.00 | AA
(6) | 3,605,490 |
| 5,000 | 5.750%,
5/01/28 (Pre-refunded 5/01/18)  –  AGM Insured (UB) | 5/18
at 100.00 | AA
(6) | 5,092,500 |
| 10,125 | Erie
County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City School District Project, Series 2009A, 5.000%, 5/01/31 (Pre-refunded 5/01/19) | 5/19
at 100.00 | AA
(6) | 10,612,519 |
| 13,855 | Hudson
Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.750%, 2/15/47 (Pre-refunded 2/15/21) | 2/21
at 100.00 | Aa3
(6) | 15,612,091 |
| 3,310 | Long
Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 5.500%, 5/01/33 (Pre-refunded 5/01/19)  –  BHAC Insured | 5/19
at 100.00 | AA+
(6) | 3,489,965 |
| 5,000 | Long
Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%, 5/01/38 (Pre-refunded 5/01/21) | 5/21
at 100.00 | A-
(6) | 5,556,350 |
| 27,285 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2010D, 5.250%, 11/15/40 (Pre-refunded 11/15/20) | 11/20
at 100.00 | AA-
(6) | 30,140,648 |
| 480 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2013C, 5.000%, 11/15/32 (Pre-refunded 5/15/23) | 5/23
at 100.00 | AA-
(6) | 560,981 |
| 14,000 | Metropolitan
Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E, 5.000%, 11/15/31 (Pre-refunded 11/15/23) | 11/23
at 100.00 | AA-
(6) | 16,472,680 |
| 985 | Nassau
County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%, 10/01/29 (Pre-refunded 10/01/19)  –  AGC Insured | 10/19
at 100.00 | AA
(6) | 1,044,976 |
| 4,355 | New
York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, Subordinate Lien Series 2011C, 5.500%, 11/01/35 (Pre-refunded 11/01/20) | 11/20
at 100.00 | N/R
(6) | 4,829,129 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | U.S.
Guaranteed (6) (continued) | | | |
| $ 955 | Suffolk
County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28 (Pre-refunded 7/01/21) | 7/21
at 100.00 | N/R
(6) | $ 1,063,851 |
| | Tompkins
County Development Corporation, New York, Revenue Bonds, Ithaca College, Series 2011: | | | |
| 1,390 | 5.500%,
7/01/33 (Pre-refunded 1/01/21)  –  AGM Insured | 1/21
at 100.00 | A2
(6) | 1,549,794 |
| 1,000 | 5.250%,
7/01/36 (Pre-refunded 1/01/21)  –  AGM Insured | 1/21
at 100.00 | A2
(6) | 1,107,490 |
| 4,000 | 5.375%,
7/01/41 (Pre-refunded 1/01/21)  –  AGM Insured | 1/21
at 100.00 | A2
(6) | 4,444,920 |
| 4,485 | Westchester
County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series 2010-C2, 6.125%, 11/01/37 (Pre-refunded 11/01/20) | 11/20
at 100.00 | N/R
(6) | 5,052,577 |
| 176,480 | Total
U.S. Guaranteed | | | 191,537,758 |
| | Utilities – 11.2%
(7.0% of Total Investments) | | | |
| 2,450 | Chautauqua
County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, NRG Dunkirk Power Project, Series 2009, 5.875%, 4/01/42 | 2/20
at 100.00 | Baa3 | 2,566,179 |
| 3,000 | Guam
Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37  –  AGM Insured | 10/20
at 100.00 | AA | 3,203,250 |
| 1,045 | Guam
Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34 | 10/22
at 100.00 | BBB | 1,105,150 |
| | Long
Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A: | | | |
| 8,000 | 0.000%,
6/01/24  –  AGM Insured | No
Opt. Call | AA | 6,847,840 |
| 8,000 | 0.000%,
6/01/25  –  AGM Insured | No
Opt. Call | AA | 6,626,560 |
| 20,000 | 0.000%,
6/01/26  –  AGM Insured | No
Opt. Call | AA | 16,033,800 |
| 10,000 | 0.000%,
6/01/27  –  AGM Insured | No
Opt. Call | AA | 7,716,400 |
| 15,000 | 0.000%,
6/01/28  –  AGM Insured | No
Opt. Call | AA | 11,169,900 |
| 10,000 | 0.000%,
6/01/29  –  AGM Insured | No
Opt. Call | AA | 7,134,400 |
| 2,590 | Long
Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 5.000%, 9/01/44 | 9/24
at 100.00 | A- | 2,888,860 |
| 6,500 | Niagara
Area Development Corporation, New York, Solid Waste Disposal Facility Revenue Refunding Bonds, Covanta Energy Project, Series 2012B, 144A, 4.000%, 11/01/24 | 2/18
at 100.00 | BB+ | 6,503,445 |
| 9,000 | Utility
Debt Securitization Authority, New York, Restructuring Bonds, Refunding Series 2015, 5.000%, 12/15/32 | 12/25
at 100.00 | AAA | 10,801,710 |
| | Utility
Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE: | | | |
| 9,500 | 5.000%,
12/15/32 | 12/23
at 100.00 | AAA | 11,070,350 |
| 22,290 | 5.000%,
12/15/41 | 12/23
at 100.00 | AAA | 25,525,616 |
| 7,000 | Utility
Debt Securitization Authority, New York, Restructuring Bonds, Series 2016A, 5.000%, 12/15/35 | 6/26
at 100.00 | AAA | 8,301,370 |
| | Utility
Debt Securitization Authority, New York, Restructuring Bonds, Series 2016B: | | | |
| 3,750 | 5.000%,
12/15/33 | 6/26
at 100.00 | AAA | 4,478,888 |
| 3,575 | 5.000%,
12/15/34 | 6/26
at 100.00 | AAA | 4,254,715 |
| 3,275 | 5.000%,
12/15/35 | 6/26
at 100.00 | AAA | 3,883,855 |
| 144,975 | Total
Utilities | | | 140,112,288 |
| | Water
and Sewer – 14.6% (9.2% of Total Investments) | | | |
| 5,160 | New
York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44 | 12/21
at 100.00 | AA+ | 5,735,392 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Water
and Sewer (continued) | | | |
| $ 4,085 | New
York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2013 Series DD, 5.000%, 6/15/35 | 6/23
at 100.00 | AA+ | $ 4,636,516 |
| 10,000 | New
York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2014 Series DD, 5.000%, 6/15/35 | 6/24
at 100.00 | AA+ | 11,530,200 |
| 5,375 | New
York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series HH, 5.000%, 6/15/39 | 6/25
at 100.00 | AA+ | 6,232,151 |
| 15,000 | New
York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2017 Series CC-1, 5.000%, 6/15/46 | 6/26
at 100.00 | AA+ | 17,316,300 |
| 10,000 | New
York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2018 Series AA, 5.000%, 6/15/38 | 6/27
at 100.00 | AA+ | 11,746,700 |
| 7,000 | New
York State Environmental Facilities Corporation State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution Series 2017E, 5.000%, 6/15/47 (WI/DD, Settling 12/14/17) | 6/27
at 100.00 | AAA | 8,156,400 |
| 2,580 | New
York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution Subordinated Series 2014A, 5.000%, 6/15/30 | 6/24
at 100.00 | AAA | 3,027,475 |
| 3,110 | New
York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, Second Resolution Subordinated SRF Series, 5.000%, 6/15/36 | 6/25
at 100.00 | AAA | 3,615,157 |
| 6,810 | New
York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds, Series 2016A, 5.000%, 6/15/41 | 6/26
at 100.00 | AAA | 7,962,320 |
| | New
York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects-Second Resolution Bonds, Subordinated SRF: | | | |
| 24,465 | 5.000%,
6/15/42 | 6/27
at 100.00 | AAA | 28,827,599 |
| 13,500 | 5.000%,
6/15/46 | 6/27
at 100.00 | AAA | 15,858,045 |
| 22,340 | New
York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Green Series 2014B, 5.000%, 5/15/44 | 5/24
at 100.00 | AAA | 25,319,039 |
| 5,000 | New
York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Green Series 2016B, 5.000%, 8/15/41 | 8/26
at 100.00 | AAA | 5,860,550 |
| | New
York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Green Series 2017C: | | | |
| 1,245 | 5.000%,
8/15/38 | 8/27
at 100.00 | AAA | 1,477,305 |
| 3,060 | 5.000%,
8/15/39 | 8/27
at 100.00 | AAA | 3,625,243 |
| 3,845 | New
York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Series 2010C, 5.000%, 10/15/35 | 4/20
at 100.00 | AAA | 4,120,110 |
| 3,095 | New
York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 Master Financing Program, Series 2012B, 5.000%, 2/15/42 | 2/22
at 100.00 | AAA | 3,430,034 |
| 7,020 | Suffolk
County Water Authority, New York, Waterworks Revenue Bonds, Series 2015A, 5.250%, 6/01/36 | 6/25
at 100.00 | AAA | 8,400,343 |
| 2,230 | Upper
Mohawk Valley Regional Water Finance Authority, New York, Water System Revenue Bonds, Series 2000, 0.000%, 4/01/23  –  AMBAC Insured | No
Opt. Call | A1 | 1,976,404 |

| Principal
Amount (000) | Description
(1) | Optional
Call Provisions (2) | Ratings
(3) | Value |
| --- | --- | --- | --- | --- |
| | Water
and Sewer (continued) | | | |
| | Water
Authority of Western Nassau County, New York, Water System Revenue Bonds, Series 2015A: | | | |
| $ 1,325 | 5.000%,
4/01/40 | 4/25
at 100.00 | AA- | $ 1,492,480 |
| 1,950 | 5.000%,
4/01/45 | 4/25
at 100.00 | AA- | 2,185,618 |
| 158,195 | Total
Water and Sewer | | | 182,531,381 |
| $ 2,069,022 | Total
Long-Term Investments (cost $1,869,040,715) | | | 1,987,884,769 |
| | Floating
Rate Obligations – (1.0)% | | | (12,855,000) |
| | MuniFund
Preferred Shares, net of deferred offering costs – (6.4)% (7) | | | (79,574,626) |
| | Variable
Rate Demand Preferred Shares, net of deferred offering costs – (52.9)% (8) | | | (660,998,983) |
| | Other
Assets Less Liabilities – 1.2% (9) | | | 14,788,849 |
| | Net
Assets – 100% | | | $ 1,249,245,009 |

Investments in Derivatives as of November 30, 2017

| Interest
Rate Swaps - OTC Uncleared — Counterparty | Notional Amount | Fund Pay/Receive Floating Rate | Floating
Rate Index | Fixed
Rate (Annualized) | Fixed
Rate Payment Frequency | Effective Date (10) | Optional Termination Date | Maturity Date | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| JPMorgan
Chase Bank, N.A. | $31,000,000 | Receive | Weekly
SIFMA | 2.043% | Quarterly | 5/25/18 | 6/25/18 | 5/25/28 | $(282,728) | $ — | $(282,728) |

Fair Value Measurements

Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:

| | Level
1 | Level
2 | Level
3 | Total |
| --- | --- | --- | --- | --- |
| Long-Term
Investments: | | | | |
| Municipal
Bonds | $ — | $1,987,884,769 | $ — | $1,987,884,769 |
| Investments
in Derivatives: | | | | |
| Interest
Rate Swaps* | — | (282,728) | — | (282,728) |
| Total | $ — | $1,987,602,041 | $ — | $1,987,602,041 |

• Represents net unrealized appreciation (depreciation).

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

The tables below present the cost and unrealized appreciation (depreciation) of the Fund's investment portfolio, as determined on a federal income tax basis, as of November 30, 2017.

For purposes of this disclosure, derivative tax cost is generally the sum of any upfront fees or premiums exchanged and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting. If a particular derivative category does not disclose any tax unrealized appreciation or depreciation, the change in value of those derivatives have generally been fully realized for tax purposes.

| Tax
cost of investments | $1,854,226,947 |
| --- | --- |
| Gross
unrealized: | |
| Appreciation | $ 131,952,237 |
| Depreciation | (11,149,371) |
| Net
unrealized appreciation (depreciation) of investments | $ 120,802,866 |

| Tax
cost of swap contracts | $ — |
| --- | --- |
| Net
unrealized appreciation (depreciation) of swap contracts | (282,728) |

| (1) | All
percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted. |
| --- | --- |
| (2) | Optional
Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. |
| (3) | For
financial reporting purposes, the ratings disclosed are the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc.
(“Fitch”) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are
considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. |
| (4) | Step-up
coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period. |
| (5) | Investment,
or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions. |
| (6) | Backed
by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or agency securities are not rated by national
ratings agencies and are regarded as having an implied rating equal to the rating of the U.S. Government or agency. |
| (7) | MuniFund
Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 4.0%. |
| (8) | Variable
Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 33.3%. |
| (9) | Other
assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC cleared and exchange-traded derivatives, when applicable. |
| (10) | Effective
date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract. |
| 144A | Investment
is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. |
| SIFMA | United
States Dollar-Securities Industry and Financial Market Association |
| UB | Underlying
bond of an inverse floating rate trust reflected as a financing transaction. |
| WI/DD | Investment,
or portion of investment, purchased on a when-issued or delayed delivery basis. |

Item 2. Controls and Procedures.

a. The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

b. There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)	Nuveen New York AMT-Free Quality Municipal Income Fund
By (Signature and Title)	/s/ Gifford R.
Zimmerman
	Gifford R. Zimmerman
	Vice President and Secretary

Date: January 29, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

| By (Signature and Title) | /s/ Cedric H.
Antosiewicz |
| --- | --- |
| | Cedric H. Antosiewicz |
| | Chief Administrative Officer (principal executive officer) |
| Date: January 29, 2018 | |
| By (Signature and Title) | /s/ Stephen D.
Foy |
| | Stephen D. Foy |
| | Vice President and Controller (principal financial officer) |
| Date: January 29, 2018 | |