UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
811-21179 |
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Robert S. Kapito, President
BlackRock New York Insured Municipal Income Trust
| Registrant's telephone number, including area code: | 888-825-2257 |
| Date of fiscal year end: | August 31 |
| Date of reporting period: | November 30, 2004 |
Item 1. Schedule of Investments.
The registrant's unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS
NOVEMBER 30, 2004 (Unaudited)
BlackRock New York Insured Municipal Income Trust (BSE)
| Principal | ||||||||
| Amount | Option Call | |||||||
| Rating1 | (000) | Provisions2 | Value | |||||
| LONG-TERM INVESTMENTS—163.4% | ||||||||
| New York—150.6% | ||||||||
| BBB- | $ 1,000 | Herkimer Cnty. Indl. Dev. Agcy., Civic Fac. Rev., Coll. Fndtn., Inc. Student Hsg. Proj., | ||||||
| 6.25%, 8/01/34 | 08/13 @ 100 | $ 1,011,150 | ||||||
| Met. Transp. Auth., | ||||||||
| AAA | 1,085 | Ser. A, 5.00%, 11/15/25, FGIC | 11/12 @ 100 | 1,116,508 | ||||
| AAA | 8,470 | Ser. A, 5.00%, 11/15/30, FSA | 11/12 @ 100 | 8,569,438 | ||||
| AAA | 5,000 | Ser. A, 5.25%, 11/15/31, FGIC | 11/12 @ 100 | 5,187,250 | ||||
| AAA | 5,000 | Dedicated Tax Fund, Ser. A, 5.00%, 11/15/31, FGIC | 11/11 @ 100 | 5,049,550 | ||||
| AAA | 2,660 | Refdg. Transp., Ser. E, 5.25%, 11/15/31, FGIC | 11/12 @ 100 | 2,759,617 | ||||
| AAA | 10,000 | Svc. Contract, Ser. A, 5.00%, 7/01/30, AMBAC | 07/12 @ 100 | 10,112,700 | ||||
| A | 2,500 | New York City Indl. Dev. Agcy., Lycee Francais De Proj., Ser. A, 5.375%, 6/01/23, ACA | 12/12 @ 100 | 2,551,250 | ||||
| AAA | 5,000 | New York City Mun. Wtr. Fin. Auth., Wtr. & Swr. Sys. Rev., Ser. B, 5.00%, 6/15/36, FSA | 12/14 @ 100 | 5,019,500 | ||||
| AAA | 6,000 | New York City Transl. Fin. Auth., Ser. B, 5.00%, 5/01/30, AMBAC | 11/11 @ 101 | 6,070,080 | ||||
| AAA | 5,000 | New York City Trust Cultural Resources, American Museum of Natural History, | ||||||
| Ser. A, 5.00%, 7/01/44, MBIA | 07/14 @ 100 | 5,037,650 | ||||||
| BBB | 3,320 | New York Cntys. Tobacco Trust III, 6.00%, 6/01/43 | 06/13 @ 100 | 3,218,939 | ||||
| New York Dorm. Auth., | ||||||||
| AAA | 5,000 | Brooklyn Law School Proj., Ser. B, 5.125%, 7/01/30, XLCA | 07/13 @ 100 | 5,123,550 | ||||
| AAA | 7,000 | Hosp. Lutheran Med. Proj., 5.00%, 8/01/31, MBIA | 02/13 @ 100 | 7,079,030 | ||||
| AAA | 2,500 | Insured Fit Student Hsg. Corp. Proj., 5.125%, 7/01/34, FGIC | 07/14 @ 100 | 2,565,575 | ||||
| AAA | 3,160 | Iona Coll. Proj., 5.00%, 7/01/27, XLCA | 07/12 @ 100 | 3,223,769 | ||||
| Aa3 | 3,000 | Joachim & Ann Residence Proj., 5.25%, 7/01/27 | 07/12 @ 100 | 3,035,370 | ||||
| AAA | 10,000 | Memorial Sloan Kettering Ctr. Proj., Ser. 1, Zero Coupon, 7/01/30, MBIA | No Opt. Call | 2,656,700 | ||||
| AAA | 5,000 | New York & Presbyterian Hosp. Proj., 5.00%, 8/01/32, AMBAC | 02/08 @ 101 | 5,035,850 | ||||
| AAA | 7,000 | New York Univ. Proj., Ser. 2, 5.00%, 7/01/41, AMBAC | 07/11 @ 100 | 7,038,710 | ||||
| AAA | 2,000 | Sch. Dist. Fin., Ser. A, 5.00%, 4/01/31, MBIA | 10/12 @ 100 | 2,021,800 | ||||
| AAA | 3,500 | Sch. Dist. Fin., Ser. D, 5.00%, 10/01/30, MBIA | 10/12 @ 100 | 3,540,425 | ||||
| AAA | 7,000 | 3 | St. Barnabas Proj., Ser. A, 5.00%, 2/01/31, AMBAC | 08/12 @ 100 | 7,074,970 | |||
| AAA | 5,000 | 4 | Univ. Dorm. Facs., 5.00%, 7/01/12, MBIA | N/A | 5,547,950 | |||
| AAA | 2,000 | Winthrop Univ. Hosp. Assoc. Proj., Ser. A, 5.25%, 7/01/31, AMBAC | 07/11 @ 101 | 2,071,960 | ||||
| New York Urban Dev. Corp., | ||||||||
| AAA | 3,000 | Ser. B, 5.00%, 3/15/33, MBIA | 03/13 @ 100 | 3,030,180 | ||||
| AAA | 2,500 | Ser. C-1, 5.00%, 3/15/33, FGIC | 03/13 @ 100 | 2,525,150 | ||||
| AAA | 5,000 | Sales Tax Asset Receivables Corp., Ser. A, 5.00%, 10/15/32, AMBAC | 10/14 @ 100 | 5,069,700 | ||||
| AAA | 10,000 | Triborough Brdg. & Tunl. Auth., Ser. E, 5.00%, 11/15/32, MBIA | 11/12 @ 100 | 10,104,300 | ||||
| BBB | 6,000 | TSASC, Inc., Tobacco Settlement Rev., Ser. 1, 5.75%, 7/15/32 | 07/12 @ 100 | 5,614,680 | ||||
| 138,063,301 | ||||||||
| Puerto Rico—12.8% | ||||||||
| BBB | 7,600 | Children’s Trust Fund, Tobacco Settlement Rev., 5.625%, 5/15/43 | 05/12 @ 100 | 6,891,376 | ||||
| A | 5,000 | Puerto
Rico Indl. Fin. Auth., Med. & Env. Ctrl. Facs., Polytecnic Univ., Ser. A, 5.00%, 8/01/32, ACA |
08/12 @ 100 | 4,875,300 | ||||
| 11,766,676 | ||||||||
| Total Long-Term Investments (cost $148,888,966) | 149,829,977 | |||||||
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BlackRock New York Insured Municipal Income Trust (BSE) (continued)
| Shares | ||||||||
| (000) | Value | |||||||
| MONEY MARKET FUND—1.2% | ||||||||
| 1,100 | AIM Tax Free Investment Co. Cash Reserve Portfolio (cost $1,100,000) | $ 1,100,000 | ||||||
| Total Investments—164.6% (cost $149,988,966) | $150,929,977 | |||||||
| Liabilities in excess of other assets—(3.5)% | (3,217,688) | |||||||
| Preferred shares at redemption value, including dividends payable—(61.1)% | (56,007,664) | |||||||
| Net Assets Applicable to Common Shareholders—100% | $ 91,704,625 | |||||||
| 1 | Using the higher of S&P’s, Moody’s or Fitch’s rating. | |
| 2 | Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. | |
| 3 | Entire or partial principal amount pledged as collateral for financial futures contracts. | |
| 4 | This bond is prefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par. | |
| The value (market value plus accrued interest) of securities that are covered by insurance, which ensures the payment of principal and interest, represent approximately 89.8% of the Trust’s managed assets. | ||
| ACA | — American Capital Access | FSA | — Financial Security Assurance | |
| AMBAC | — American Municipal Bond Assurance Corporation | MBIA | — Municipal Bond Insurance Association | |
| FGIC | — Financial Guaranty Insurance Company | XLCA | — XL Capital Assurance | |
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Item 2. Controls and Procedures.
(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 3. Exhibits.Separate certifications of the registrant's principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
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) | BlackRock New York Insured Municipal Income Trust |
| By: | /s/ Henry Gabbay |
| Name: Henry Gabbay Title: Treasurer Date: January 20, 2005 |
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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: | /s/ Robert S. Kapito |
| Name: Robert S. Kapito Title: Principal Executive Officer Date: January 20, 2005 |
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| By: | /s/ Henry Gabbay |
| Name: Henry Gabbay Title: Principal Executive Officer Date: January 20, 2005 |
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