Unassociated Document



 
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 Insured New York Tax-Free Advantage Municipal 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)
 

Kevin J. McCarthy
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:            9/30          
 
Date of reporting period:         6/30/11         
 
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
 

           
   
Portfolio of Investments (Unaudited) 
      
   
Nuveen Insured New York Tax-Free Advantage Municipal Fund (NRK) 
      
   
June 30, 2011 
      
Principal 
    
Optional Call 
    
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
   
Consumer Staples – 3.3% (2.1% of Total Investments) 
      
$   1,500 
  
New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003, 
6/13 at 100.00 
BBB 
$   1,404,270 
   
5.750%, 6/01/33 
      
285 
  
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, 
5/12 at 100.00 
BBB 
261,815 
   
Series 2002, 5.375%, 5/15/33 
      
1,785 
  
Total Consumer Staples 
    
1,666,085 
   
Education and Civic Organizations – 30.2% (19.6% of Total Investments) 
      
3,400 
  
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, 
7/17 at 100.00 
A– 
3,453,278 
   
Series 2007A, 5.250%, 7/01/32 – NPFG Insured 
      
2,000 
  
Dormitory Authority of the State of New York, Insured Revenue Bonds, Long Island University, 
9/12 at 100.00 
Baa3 
1,971,600 
   
Series 2003A, 5.000%, 9/01/32 – RAAI Insured 
      
2,000 
  
Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of 
No Opt. Call 
A– 
2,079,300 
   
Medicine, Series 1994A, 5.150%, 7/01/24 – NPFG Insured 
      
1,000 
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
No Opt. Call 
AA– 
1,078,150 
   
Facilities, Series 2003B, 5.250%, 7/01/32 (Mandatory put 7/01/13) – SYNCORA GTY Insured 
      
410 
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
7/16 at 100.00 
Aa2 
417,712 
   
Facilities, Series 2006A, 5.000%, 7/01/31 – NPFG Insured 
      
1,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A, 
7/17 at 100.00 
BBB 
1,041,250 
   
5.000%, 7/01/25 – FGIC Insured 
      
1,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, Mount St. Mary College, Series 
7/13 at 100.00 
N/R 
957,380 
   
2003, 5.000%, 7/01/32 – RAAI Insured 
      
   
Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of 
      
   
Technology, Series 2006A: 
      
100 
  
5.250%, 7/01/20 – AMBAC Insured 
No Opt. Call 
A1 
114,662 
80 
  
5.250%, 7/01/21 – AMBAC Insured 
No Opt. Call 
A1 
91,512 
225 
  
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Colgate 
No Opt. Call 
AA+ 
235,044 
   
University, Tender Option Bond Trust 3127, 13.298%, 1/01/14 – AMBAC Insured (IF) 
      
300 
  
New York City Industrial Development Agency, New York, Payment in Lieu of Taxes Revenue Bonds, 
1/19 at 100.00 
AA+ 
315,063 
   
Queens Baseball Stadium Project, Series 2009, 6.125%, 1/01/29 – AGC Insured 
      
495 
  
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project 
3/19 at 100.00 
AA+ 
547,648 
   
PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured 
      
   
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium 
      
   
Project, Series 2006: 
      
170 
  
5.000%, 3/01/31 – FGIC Insured 
9/16 at 100.00 
BBB– 
165,526 
1,425 
  
5.000%, 3/01/36 – NPFG Insured 
9/16 at 100.00 
Baa1 
1,315,774 
840 
  
4.500%, 3/01/39 – FGIC Insured 
9/16 at 100.00 
BBB– 
700,644 
1,000 
  
New York City Trust for Cultural Resources, New York, Revenue Bonds, American Museum of 
7/14 at 100.00 
AA 
1,009,010 
   
Natural History, Series 2004A, 5.000%, 7/01/36 – NPFG Insured 
      
15,445 
  
Total Education and Civic Organizations 
    
15,493,553 
   
Health Care – 22.2% (14.4% of Total Investments) 
      
2,000 
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, 
2/13 at 100.00 
Baa1 
2,004,900 
   
Lutheran Medical Center, Series 2003, 5.000%, 8/01/31 – NPFG Insured 
      
3,000 
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, St. 
8/12 at 100.00 
N/R 
3,005,040 
   
Barnabas Hospital, Series 2002A, 5.000%, 2/01/31 – AMBAC Insured 
      
335 
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson 
8/17 at 100.00 
AA+ 
347,767 
   
Valley Hospital Center, Series 2007, 5.000%, 8/15/27 – AGM Insured 
      
1,000 
  
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical 
2/15 at 100.00 
BBB 
1,035,030 
   
Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured 
      
255 
  
Dormitory Authority of the State of New York, Revenue Bonds, Health Quest System Inc., Series 
7/17 at 100.00 
AA+ 
253,190 
   
2007B, 5.125%, 7/01/37 – AGC Insured 
      
25 
  
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer 
7/13 at 100.00 
AA 
26,395 
   
Center, Series 2003-1, 5.000%, 7/01/21 – NPFG Insured 
      
780 
  
Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian 
8/14 at 100.00 
AA+ 
847,993 
   
Hospital, Series 2004A, 5.250%, 8/15/15 – AGM Insured 
      
750 
  
Dormitory Authority of the State of New York, Revenue Bonds, South Nassau Communities 
7/13 at 100.00 
Baa1 
762,915 
   
Hospital, Series 2003B, 5.500%, 7/01/23 
      
305 
  
Dormitory Authority of the State of New York, Revenue Bonds, The New York and Presbyterian 
8/14 at 100.00 
AA+ 
305,900 
   
Hospital Project, Series 2007, 5.000%, 8/15/36 – AGM Insured 
      
2,640 
  
New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series 
2/13 at 100.00 
Aa3 
2,777,676 
   
2003A, 5.250%, 2/15/21 – AMBAC Insured 
      
11,090 
  
Total Health Care 
    
11,366,806 
   
Long-Term Care – 3.7% (2.4% of Total Investments) 
      
1,500 
  
Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds, 
8/11 at 105.00 
BBB 
1,582,620 
   
Norwegian Christian Home and Health Center, Series 2001, 6.100%, 8/01/41 – NPFG Insured 
      
290 
  
Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of 
2/17 at 103.00 
AAA 
293,700 
   
Westchester Project, Series 2006, 5.200%, 2/15/41 
      
1,790 
  
Total Long-Term Care 
    
1,876,320 
   
Tax Obligation/General – 3.1% (2.0% of Total Investments) 
      
1,000 
  
Nassau County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%, 
10/19 at 100.00 
AA+ 
1,035,130 
   
10/01/29 – AGC Insured 
      
50 
  
New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.125%, 8/01/25 – 
8/11 at 100.00 
AA 
50,147 
   
NPFG Insured 
      
225 
  
New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16 – 
8/15 at 100.00 
AA+ 
254,482 
   
AGM Insured 
      
250 
  
New York City, New York, General Obligation Bonds: 5.000%, 11/01/19 – AGM Insured (UB) 
11/14 at 100.00 
AA+ 
276,238 
1,525 
  
Total Tax Obligation/General 
    
1,615,997 
   
Tax Obligation/Limited – 45.6% (29.5% of Total Investments) 
      
2,695 
  
Buffalo Fiscal Stability Authority, New York, Sales Tax Revenue State Aid Secured Bonds, 
No Opt. Call 
Aa1 
2,840,395 
   
Series 2004A, 5.250%, 8/15/12 – NPFG Insured 
      
1,000 
  
Dormitory Authority of the State of New York, Master Lease Program Revenue Bonds, Nassau 
8/19 at 100.00 
AA+ 
1,045,780 
   
County Board of Cooperative Educational Services, Series 2009A, 5.000%, 8/15/28 – AGC Insured 
      
3,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing 
10/12 at 100.00 
A+ 
3,122,490 
   
Program, Series 2002D, 5.250%, 10/01/23 – NPFG Insured 
      
1,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing 
10/19 at 100.00 
AA+ 
1,080,700 
   
Program, Series 2009A, 5.625%, 10/01/29 – AGC Insured 
      
340 
  
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
5/18 at 100.00 
AA+ 
371,963 
   
City School District Project, Series 2008A, 5.750%, 5/01/27 – AGM Insured (UB) 
      
1,085 
  
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
5/17 at 100.00 
AA+ 
1,173,221 
   
City School District, Series 2007A, 5.750%, 5/01/28 – AGM Insured (UB) 
      
2,055 
  
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 
2/17 at 100.00 
A 
1,866,063 
   
2/15/47 – FGIC Insured 
      
1,000 
  
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, 
7/12 at 100.00 
AA– 
1,011,350 
   
Series 2002A, 5.000%, 7/01/25 – FGIC Insured 
      
560 
  
Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003, 
1/13 at 102.00 
BBB 
504,762 
   
5.500%, 1/01/34 
      
   
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local 
      
   
Government Assistance Corporation, Series 2004A: 
      
610 
  
5.000%, 10/15/25 – NPFG Insured (UB) 
10/14 at 100.00 
AAA 
653,109 
555 
  
5.000%, 10/15/26 – NPFG Insured (UB) 
10/14 at 100.00 
AAA 
594,399 
740 
  
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 
1/17 at 100.00 
AA– 
767,691 
   
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured 
      
2,000 
  
New York City Transitional Finance Authority, New York, Future Tax Secured Refunding Bonds, 
2/13 at 100.00 
AAA 
2,102,020 
   
Fiscal Series 2003D, 5.000%, 2/01/22 – NPFG Insured 
      
1,000 
  
New York City, New York, Educational Construction Fund, Revenue Bonds, Series 2011A, 5.750%, 
4/21 at 100.00 
AA+ 
1,084,980 
   
4/01/33 – AGM Insured 
      
280 
  
New York Convention Center Development Corporation, Hotel Fee Revenue Bonds, Tender Option 
11/15 at 100.00 
AA+ 
292,306 
   
Bonds Trust 3095, 13.399%, 11/15/44 – AMBAC Insured (IF) 
      
1,290 
  
New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds, 
1/13 at 100.00 
AAA 
1,350,927 
   
Series 2002A, 5.000%, 1/01/23 – FGIC Insured 
      
950 
  
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 
No Opt. Call 
AA 
1,141,558 
   
2005B, 5.500%, 4/01/20 – AMBAC Insured 
      
1,200 
  
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and 
6/13 at 100.00 
AA– 
1,267,932 
   
State Contingency Contract-Backed Bonds, Series 2003A-1, 5.250%, 6/01/20 – AMBAC Insured 
      
750 
  
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and 
6/13 at 100.00 
AA– 
793,778 
   
State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21 
      
295 
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 
8/20 at 100.00 
AA+ 
294,077 
   
2010C, 5.125%, 8/01/42 – AGM Insured 
      
22,405 
  
Total Tax Obligation/Limited 
    
23,359,501 
   
Transportation – 13.7% (8.8% of Total Investments) 
      
   
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005A: 
      
100 
  
4.750%, 11/15/27 – NPFG Insured 
11/15 at 100.00 
AA+ 
101,037 
500 
  
4.750%, 11/15/30 – AMBAC Insured 
11/15 at 100.00 
A 
487,300 
1,000 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, 
11/12 at 100.00 
A 
1,008,520 
   
Series 2002A, 5.000%, 11/15/25 – FGIC Insured 
      
140 
  
New York State Thruway Authority, General Revenue Bonds, Refunding Series 2007H, 5.000%, 
1/18 at 100.00 
A+ 
147,251 
   
1/01/25 – FGIC Insured 
      
1,875 
  
New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/20 – 
1/15 at 100.00 
A+ 
1,993,988 
   
AMBAC Insured 
      
3,000 
  
New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/32 – 
7/15 at 100.00 
AA+ 
3,065,940 
   
AGM Insured 
      
170 
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty 
8/17 at 100.00 
AA+ 
191,481 
   
Eighth Series 2008, Trust 2920, 17.932%, 8/15/32 – AGM Insured (IF) 
      
6,785 
  
Total Transportation 
    
6,995,517 
   
U.S. Guaranteed – 25.2% (16.3% of Total Investments) (4) 
      
1,185 
  
Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds, 
2/13 at 102.00 
Aaa 
1,296,343 
   
Shorefront Jewish Geriatric Center Inc., Series 2002, 5.200%, 2/01/32 (Pre-refunded 2/01/13) 
      
500 
  
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish 
5/13 at 100.00 
Aaa 
545,730 
   
Group, Series 2003, 5.375%, 5/01/23 (Pre-refunded 5/01/13) 
      
2,500 
  
Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of 
7/12 at 100.00 
A1 (4) 
2,625,500 
   
Technology, Series 2002A, 5.250%, 7/01/22 (Pre-refunded 7/01/12) – AMBAC Insured 
      
70 
  
Erie County Water Authority, New York, Water Revenue Bonds, Series 1990B, 6.750%, 12/01/14 – 
No Opt. Call 
AAA 
77,450 
   
AMBAC Insured (ETM) 
      
500 
  
New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series 
2/12 at 100.00 
Aaa 
516,575 
   
2002A, 5.500%, 2/15/17 (Pre-refunded 2/15/12) – AGM Insured 
      
3,000 
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal 
8/12 at 100.00 
AAA 
3,162,420 
   
Series 2003C, 5.250%, 8/01/18 (Pre-refunded 8/01/12) – AMBAC Insured 
      
500 
  
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State 
3/13 at 100.00 
AAA 
543,720 
   
Facilities and Equipment, Series 2002C-1, 5.500%, 3/15/21 (Pre-refunded 3/15/13) – FGIC Insured 
      
2,000 
  
Power Authority of the State of New York, General Revenue Bonds, Series 2002A, 5.000%, 
11/12 at 100.00 
Aa2 (4) 
2,128,600 
   
11/15/20 (Pre-refunded 11/15/12) 
      
1,975 
  
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Series 2002A, 
1/12 at 100.00 
AAA 
2,023,605 
   
5.125%, 1/01/31 (Pre-refunded 1/01/12) – NPFG Insured 
      
12,230 
  
Total U.S. Guaranteed 
    
12,919,943 
   
Utilities – 6.5% (4.3% of Total Investments) 
      
   
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A: 
      
1,130 
  
5.000%, 12/01/23 – FGIC Insured 
6/16 at 100.00 
A– 
1,185,732 
870 
  
5.000%, 12/01/25 – FGIC Insured 
6/16 at 100.00 
A– 
903,947 
1,000 
  
5.000%, 12/01/26 – AGC Insured 
6/16 at 100.00 
AA+ 
1,032,720 
125 
  
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, 
6/16 at 100.00 
A– 
125,238 
   
5.000%, 12/01/35 – CIFG Insured 
      
110 
  
Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%, 
11/15 at 100.00 
Aa2 
120,604 
   
11/15/19 – FGIC Insured 
      
3,235 
  
Total Utilities 
    
3,368,236 
   
Water and Sewer – 1.0% (0.6% of Total Investments) 
      
495 
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue 
6/16 at 100.00 
AAA 
504,667 
   
Bonds, Series 2006B, 5.000%, 6/15/36 – NPFG Insured (UB) 
      
$ 76,785 
  
Total Investments (cost $77,512,860) – 154.5% 
    
79,166,625 
   
Floating Rate Obligations – (4.7)% 
    
(2,390,000)
    MuniFund Term Preferred Shares, at Liquidation Value – (54.0)% (5)     (27,680,000)
   
Other Assets Less Liabilities – 4.2% 
    
2,151,462 
   
Net Assets Applicable to Common Shares – 100% 
    
$ 51,248,087 
 
 
 
 
 
 
 
 

 
Fair Value Measurements
 
 
Fair value is defined as the price that the Fund would receive 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 three-tier hierarchy of inputs is summarized in the three broad levels listed below:
 
 
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 management’s assumptions in determining the fair value of investments).
 
 
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of June 30, 2011:
 
         
 
Level 1 
Level 2 
Level 3 
Total 
Investments: 
        
Municipal Bonds 
$ — 
$79,166,625 
$ — 
$79,166,625 
 
 
During the period ended June 30, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
 
 
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.
 
 
At June 30, 2011, the cost of investments was $74,130,241.
 
 
Gross unrealized appreciation and gross unrealized depreciation of investments at June 30, 2011, were as follows:
 
   
Gross unrealized: 
  
Appreciation 
$2,642,704 
Depreciation 
— 
Net unrealized appreciation (depreciation) of investments 
$2,642,704 
 
     
   
The Fund intends to invest at least 80% of its net assets in municipal securities that are covered by 
   
insurance guaranteeing the timely payment of principal and interest. 
(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) 
  
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investor Service, 
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. 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) 
  
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. Such investments are normally considered to 
   
be equivalent to AAA rated securities. 
 (5)    MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 35.0%.
N/R 
  
Not rated. 
(ETM) 
  
Escrowed to maturity. 
(IF) 
  
Inverse floating rate investment. 
(UB) 
  
Underlying bond of an inverse floating rate trust reflected as a financing transaction. 
 
 
 
 
 
 
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 Insured New York Tax-Free Advantage Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         August 29, 2011        
 
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/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date         August 29, 2011        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date         August 29, 2011