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 New York AMT-Free 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)
 

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:         6/30/15         
 
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
      
 
   
Nuveen New York AMT-Free Municipal Income Fund (NRK)
      
   
June 30, 2015 (Unaudited)
      
 
 
Principal
    
Optional Call
    
Amount (000)
  
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 147.8% (100.0% of Total Investments)
      
 
   
MUNICIPAL BONDS – 147.8% (100.0% of Total Investments)
      
 
   
Consumer Staples – 4.4% (3.0% of Total Investments)
      
$       8,500
  
Erie County Tobacco Asset Securitization Corporation, New York, Settlement Backed Bonds,
9/15 at 100.00
BB+
$      7,869,895
   
Series 2005A, 5.000%, 6/01/45
      
11,350
  
Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds,
6/16 at 100.00
B
9,715,714
   
Series 2006A-3, 5.000%, 6/01/35
      
525
  
New York Counties Tobacco Trust II, Tobacco Settlement Pass-Through Bonds, Series 2001,
12/15 at 100.00
A1
525,688
   
5.250%, 6/01/25
      
660
  
New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003,
9/15 at 100.00
A1
659,980
   
5.750%, 6/01/33
      
41,120
  
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006, 5.125%, 6/01/42
6/16 at 100.00
B
35,318,379
62,155
  
Total Consumer Staples
    
54,089,656
   
Education and Civic Organizations – 26.0% (17.6% of Total Investments)
      
   
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–
2,237,281
29,145
  
0.000%, 7/15/47
No Opt. Call
BBB–
5,905,068
   
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–
264,573
2,535
  
5.500%, 4/01/43
4/23 at 100.00
BBB–
2,759,145
3,655
  
Dobbs Ferry Local Development Corporation, New York, Revenue Bonds, Mercy College Project,
No Opt. Call
A
3,923,314
   
Series 2014, 5.000%, 7/01/44
      
790
  
Dormitory Authority of the State of New York, 853 Schools Program Insured Revenue Bonds,
1/16 at 100.00
N/R
793,176
   
St. Anne Institute, Issue 2, Series 1998E, 5.000%, 7/01/18 – AMBAC Insured
      
   
Dormitory Authority of the State of New York, General Revenue Bonds, New York University,
      
   
Series 2001-1:
      
1,500
  
5.500%, 7/01/24 – AMBAC Insured
No Opt. Call
AA–
1,868,310
4,000
  
5.500%, 7/01/40 – AMBAC Insured
No Opt. Call
AA–
4,983,000
4,990
  
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
7/23 at 100.00
A–
5,443,042
   
Series 2013A, 5.000%, 7/01/44
      
1,655
  
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
7/25 at 100.00
A–
1,837,166
   
Series 2015A, 5.000%, 7/01/37
      
4,265
  
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of
No Opt. Call
AA–
4,835,231
   
Technology, Series 2007, 5.250%, 7/01/34 – FGIC Insured
      
6,000
  
Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of
No Opt. Call
AA–
6,782,100
   
Medicine, Series 1994A, 5.150%, 7/01/24 – NPFG Insured
      
   
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–
1,858,993
2,185
  
5.500%, 1/01/39
7/24 at 100.00
BBB–
2,399,545
2,820
  
5.500%, 1/01/44
7/24 at 100.00
BBB–
3,083,614
6,215
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/19 at 100.00
Aa2
6,779,073
   
Facilities, Series 2009A, 5.000%, 7/01/39
      
4,750
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/21 at 100.00
Aa2
5,241,435
   
Facilities, Series 2011A, 5.000%, 7/01/41
      
3,750
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/22 at 100.00
Aa2
4,156,838
   
Facilities, Series 2012A, 5.000%, 7/01/37
      
14,585
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/23 at 100.00
Aa3
16,911,016
   
Facilities, Series 2013A, 5.000%, 7/01/27
      
   
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
      
   
Facilities, Series 2015A:
      
3,095
  
5.000%, 7/01/31
No Opt. Call
Aa3
3,543,001
3,465
  
5.000%, 7/01/33
No Opt. Call
Aa3
3,931,770
   
Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A:
      
405
  
5.000%, 7/01/25 – NPFG Insured
7/17 at 100.00
AA–
436,772
1,320
  
5.000%, 7/01/37 – NPFG Insured
7/17 at 100.00
AA–
1,404,216
1,150
  
Dormitory Authority of the State of New York, Revenue Bonds, Canisius College, Series 2005,
7/15 at 100.00
A3
1,151,691
   
5.000%, 7/01/21 – NPFG Insured
      
9,180
  
Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series
4/21 at 100.00
AAA
10,288,301
   
2011A, 5.000%, 10/01/41
      
   
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
1,181,000
5,980
  
5.750%, 11/01/40 – AGM Insured
5/21 at 100.00
AA
6,842,794
3,000
  
Dormitory Authority of the State of New York, Revenue Bonds, Fordham University, Series 2008B,
7/18 at 100.00
A2
3,278,040
   
5.000%, 7/01/38 – AGC Insured
      
1,000
  
Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College,
7/19 at 100.00
Baa2
1,074,890
   
Series 2009, 5.250%, 7/01/29
      
875
  
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series
7/20 at 100.00
A–
987,805
   
2010, 5.250%, 7/01/30
      
3,250
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
No Opt. Call
AA–
3,718,585
   
1998A, 6.000%, 7/01/18 – NPFG Insured
      
   
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2009A:
      
10,000
  
5.250%, 7/01/34
7/19 at 100.00
AA–
11,308,100
3,890
  
5.000%, 7/01/39
7/19 at 100.00
AA–
4,339,178
13,500
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series
7/19 at 100.00
AA–
14,959,890
   
2009B, 5.000%, 7/01/39
      
   
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2015A:
      
9,000
  
5.000%, 7/01/34
No Opt. Call
AA–
10,298,610
8,955
  
5.000%, 7/01/45
7/25 at 100.00
AA–
9,988,317
2,800
  
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell
7/20 at 100.00
Aa1
3,165,260
   
University, Series 2008C, 5.000%, 7/01/37
      
   
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
5,685,250
11,560
  
5.000%, 7/01/40
7/20 at 100.00
Aa1
13,014,248
   
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
877,088
1,500
  
5.000%, 7/01/44
7/24 at 100.00
A3
1,627,815
   
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
2,901,150
2,000
  
5.250%, 7/01/21 – AMBAC Insured
No Opt. Call
A1
2,343,160
1,250
  
Dormitory Authority of the State of New York, Revenue Bonds, University of Rochester,
No Opt. Call
AA–
1,401,863
   
Refunding Series 2009A, 5.125%, 7/01/39
      
1,000
  
Dutchess County Local Development Corporation, New York, Revenue Bonds, Marist College
7/23 at 100.00
A2
1,083,570
   
Project, Series 2013A, 5.000%, 7/01/39
      
   
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
1,972,407
1,785
  
5.000%, 9/01/43
9/23 at 100.00
A
1,959,109
1,400
  
Monroe County Industrial Development Corporation, New York, Revenue Bonds, Saint John Fisher
6/24 at 100.00
BBB+
1,539,650
   
College, Series 2014A, 5.500%, 6/01/39
      
   
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
347,428
350
  
5.000%, 7/01/45
7/25 at 100.00
BBB
372,089
   
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
1,135,970
1,000
  
6.375%, 1/01/39 – AGC Insured
1/19 at 100.00
AA
1,144,010
   
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
1/17 at 100.00
BB+
6,984,489
5,000
  
5.000%, 1/01/36 – AMBAC Insured
1/17 at 100.00
BB+
5,111,800
1,030
  
4.750%, 1/01/42 – AMBAC Insured
1/17 at 100.00
BB+
1,045,965
14,500
  
5.000%, 1/01/46 – AMBAC Insured
1/17 at 100.00
BB+
14,785,795
4,730
  
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project
3/19 at 100.00
AA
5,597,340
   
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:
      
4,280
  
5.000%, 3/01/31 – FGIC Insured
9/16 at 100.00
BBB
4,380,965
31,650
  
5.000%, 3/01/36 – NPFG Insured
9/16 at 100.00
AA–
32,869,475
20,210
  
4.500%, 3/01/39 – FGIC Insured
9/16 at 100.00
BBB
20,434,129
3,400
  
New York City Trust for Cultural Resources, New York, Revenue Bonds, Whitney Museum of
1/21 at 100.00
A
3,735,342
   
American Art, Series 2011, 5.000%, 7/01/31
      
   
Niagara Area Development Corporation, New York, Niagara University Project, Series 2012A:
      
600
  
5.000%, 5/01/35
5/22 at 100.00
BBB+
635,916
1,000
  
5.000%, 5/01/42
5/22 at 100.00
BBB+
1,047,660
1,450
  
Onondaga Civic Development Corporation, New York, Revenue Bonds, Le Moyne College Project,
7/22 at 100.00
Baa2
1,516,164
   
Series 2012, 5.000%, 7/01/42
      
1,000
  
Onongada County Trust For Cultural Resources, New York, Revenue Bonds, Syracuse University
12/21 at 100.00
AA–
1,108,580
   
Project, Series 2011, 5.000%, 12/01/36
      
   
Tompkins County Development Corporation, New York, Revenue Bonds, Ithaca College, Series 2011:
      
1,390
  
5.500%, 7/01/33 – AGM Insured
1/21 at 100.00
A2
1,546,431
1,000
  
5.250%, 7/01/36 – AGM Insured
1/21 at 100.00
A2
1,094,230
4,000
  
5.375%, 7/01/41 – AGM Insured
1/21 at 100.00
A2
4,373,480
3,700
  
Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute,
9/20 at 100.00
A–
4,067,447
   
Series 2010A, 5.125%, 9/01/40
      
325,645
  
Total Education and Civic Organizations
    
321,700,155
   
Financials – 1.5% (1.0% of Total Investments)
      
1,615
  
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
No Opt. Call
A
1,866,326
   
Series 2005, 5.250%, 10/01/35
      
13,835
  
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue,
No Opt. Call
A
16,440,407
   
Series 2007, 5.500%, 10/01/37
      
15,450
  
Total Financials
    
18,306,733
   
Health Care – 8.8% (6.0% of Total Investments)
      
1,250
  
Build New York City Resource Corporation, New York, Revenue Bonds, New York Methodist Hospital
7/24 at 100.00
A–
1,401,438
   
Project, Series 2014, 5.000%, 7/01/27
      
2,490
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds,
8/19 at 100.00
AA+
2,944,500
   
Hospital for Special Surgery, Series 2009, 6.250%, 8/15/34
      
7,615
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson
8/17 at 100.00
AA
8,204,401
   
Valley Hospital Center, Series 2007, 5.000%, 8/15/27 – AGM Insured
      
   
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore
      
   
Hospital, Series 2004:
      
9,330
  
5.000%, 8/01/29 – FGIC Insured
9/15 at 100.00
AA–
9,365,361
425
  
5.000%, 8/01/33 – FGIC Insured
9/15 at 100.00
AA–
426,500
8,035
  
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical
9/15 at 100.00
AA–
8,066,095
   
Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured
      
   
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group
      
   
Revenue Bonds, Series 2008:
      
3,880
  
6.000%, 12/01/15
No Opt. Call
Ba1
3,956,785
4,345
  
6.000%, 12/01/16
No Opt. Call
Ba1
4,615,346
5,430
  
6.500%, 12/01/21
12/18 at 100.00
Ba1
6,132,696
6,780
  
6.125%, 12/01/29
12/18 at 100.00
Ba1
7,460,034
14,770
  
6.250%, 12/01/37
12/18 at 100.00
Ba1
16,160,005
   
Dormitory Authority of the State of New York, Revenue Bonds, Health Quest System Inc.,
      
   
Series 2007B:
      
3,865
  
5.250%, 7/01/27 – AGC Insured
7/17 at 100.00
AA
4,161,677
3,500
  
5.125%, 7/01/37 – AGC Insured
7/17 at 100.00
AA
3,731,875
4,000
  
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish
5/21 at 100.00
A
4,317,360
   
Obligated Group, Series 2011A, 5.000%, 5/01/41
      
900
  
Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest System
7/20 at 100.00
A–
1,011,510
   
Inc, Series 2010A, 5.750%, 7/01/40 – AGM Insured
      
1,875
  
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue
2/21 at 100.00
AA
2,210,231
   
Bonds, Unity Hospital of Rochester Project, Series 2010, 5.750%, 8/15/35
      
3,900
  
Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester General
12/22 at 100.00
A–
4,113,525
   
Hospital Project, Series 2013A, 5.000%, 12/01/42
      
6,540
  
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health
7/21 at 100.00
BBB+
7,107,541
   
Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28
      
5,050
  
Westchester County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series
11/20 at 100.00
Baa1
5,641,658
   
2010-C2, 6.125%, 11/01/37
      
5,740
  
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital,
1/16 at 100.00
B+
5,749,930
   
Series 2001A, 7.125%, 7/01/31
      
2,035
  
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital,
9/15 at 100.00
B+
2,038,521
   
Series 2001B, 7.125%, 7/01/31
      
101,755
  
Total Health Care
    
108,816,989
   
Housing/Multifamily – 0.3% (0.2% of Total Investments)
      
   
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
5/20 at 100.00
AA
1,073,610
1,000
  
5.000%, 5/01/45 – AGM Insured
5/20 at 100.00
AA
1,070,520
1,040
  
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,
5/20 at 100.00
AA+
1,077,398
   
Series 2010D-1A, 5.000%, 11/01/42
      
450
  
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2009B,
5/19 at 100.00
Aa2
464,535
   
4.500%, 11/01/29
      
   
New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project,
      
   
Series 1996A:
      
5
  
6.100%, 11/01/15 – AGM Insured
9/15 at 100.00
AA
5,025
295
  
6.125%, 11/01/20 – AGM Insured
11/15 at 100.00
AA
295,773
3,790
  
Total Housing/Multifamily
    
3,986,861
   
Industrials – 3.1% (2.1% of Total Investments)
      
38,030
  
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade
11/24 at 100.00
N/R
38,339,564
   
Center Project, Class 1 Series 2014, 5.000%, 11/15/44
      
   
Long-Term Care – 0.8% (0.5% of Total Investments)
      
800
  
Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of
2/17 at 103.00
AA+
864,704
   
Westchester Project, Series 2006, 5.200%, 2/15/41
      
7,310
  
Erie County Industrial Development Agency, New York, Revenue Bonds, Orchard Park CCRC Inc.
11/16 at 100.00
N/R
7,410,805
   
Project, Series 2006A, 6.000%, 11/15/36
      
1,225
  
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Peconic Landing At
12/20 at 100.00
BBB–
1,327,447
   
Southold, Inc. Project, Refunding Series 2010, 6.000%, 12/01/40
      
9,335
  
Total Long-Term Care
    
9,602,956
   
Tax Obligation/General – 8.0% (5.4% of Total Investments)
      
1,000
  
Nassau County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%,
10/19 at 100.00
AA
1,106,320
   
10/01/29 – AGC Insured
      
210
  
Nassau County, New York, General Obligation Improvement Bonds, Series 1993H, 5.500%, 6/15/16 –
No Opt. Call
AA–
219,805
   
NPFG Insured
      
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
1,356,360
   
New York City, New York, General Obligation Bonds, Fiscal 2012 Series A-1:
      
6,085
  
5.000%, 10/01/31
No Opt. Call
AA
6,881,161
1,000
  
5.000%, 10/01/33
10/22 at 100.00
AA
1,125,280
1,570
  
5.000%, 10/01/34
No Opt. Call
AA
1,763,440
8,665
  
New York City, New York, General Obligation Bonds, Fiscal 2012 Series B, 5.000%, 8/01/30
No Opt. Call
AA
9,822,817
   
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
1,133,620
2,000
  
5.000%, 8/01/31
8/22 at 100.00
AA
2,256,300
   
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
5,687,700
3,400
  
5.000%, 3/01/31
3/23 at 100.00
AA
3,832,854
2,190
  
5.000%, 3/01/32
3/23 at 100.00
AA
2,457,706
1,000
  
5.000%, 3/01/33
3/23 at 100.00
AA
1,121,510
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
4,376,673
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
9,122,560
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
8,693,413
   
New York City, New York, General Obligation Bonds, Fiscal Series 2001D:
      
5
  
5.250%, 8/01/15 – AGM Insured
7/15 at 100.00
AA
5,022
5
  
5.000%, 8/01/16 – FGIC Insured
9/15 at 100.00
AA
5,020
5
  
New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/20 –
9/15 at 100.00
AA
5,020
   
AGM Insured
      
715
  
New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16 –
No Opt. Call
AA
718,003
   
AGM Insured
      
   
New York City, New York, General Obligation Bonds, Series 2011D-I:
      
2,785
  
5.000%, 10/01/30
10/21 at 100.00
AA
3,179,384
2,880
  
5.000%, 10/01/34
No Opt. Call
AA
3,242,592
3,345
  
New York City, New York, General Obligation Bonds, Subseries G-1 Fiscal Series 2012,
No Opt. Call
AA
3,796,976
   
5.000%, 4/01/28
      
   
Rensselaer County, New York, General Obligation Bonds, Series 1991:
      
960
  
6.700%, 2/15/16 – AMBAC Insured
No Opt. Call
AA
997,613
960
  
6.700%, 2/15/17 – AMBAC Insured
No Opt. Call
AA
1,049,030
960
  
6.700%, 2/15/18 – AMBAC Insured
No Opt. Call
AA
1,097,760
960
  
6.700%, 2/15/19 – AMBAC Insured
No Opt. Call
AA
1,142,966
960
  
6.700%, 2/15/20 – AMBAC Insured
No Opt. Call
AA
1,188,912
747
  
6.700%, 2/15/21 – AMBAC Insured
No Opt. Call
AA
953,687
   
Rochester, New York, General Obligation Bonds, Series 1999:
      
735
  
5.250%, 10/01/20 – NPFG Insured
No Opt. Call
AA–
862,030
735
  
5.250%, 10/01/21 – NPFG Insured
No Opt. Call
AA–
871,872
730
  
5.250%, 10/01/22 – NPFG Insured
No Opt. Call
AA–
871,730
730
  
5.250%, 10/01/23 – NPFG Insured
No Opt. Call
AA–
879,891
730
  
5.250%, 10/01/24 – NPFG Insured
No Opt. Call
AA–
882,307
730
  
5.250%, 10/01/25 – NPFG Insured
No Opt. Call
AA–
889,863
725
  
5.250%, 10/01/26 – NPFG Insured
No Opt. Call
AA–
887,552
1,145
  
Three Village Central School District, Brookhaven and Smithtown, Suffolk County, New York,
No Opt. Call
Aa2
1,272,118
   
General Obligation Bonds, Series 2005, 5.000%, 6/01/18 – FGIC Insured
      
1,620
  
West Islip Union Free School District, Suffolk County, New York, General Obligation Bonds,
10/15 at 100.00
Aa3
1,638,922
   
Series 2005, 5.000%, 10/01/16 – AGM Insured
      
7,635
  
Yonkers, New York, General Obligation Bonds, Series 2005A, 5.000%, 8/01/16 – NPFG Insured
8/15 at 100.00
AA–
7,665,922
   
Yonkers, New York, General Obligation Bonds, Series 2005B:
      
1,650
  
5.000%, 8/01/19
8/15 at 100.00
A3
1,656,600
1,735
  
5.000%, 8/01/20
8/15 at 100.00
A3
1,741,819
87,907
  
Total Tax Obligation/General
    
98,460,130
   
Tax Obligation/Limited – 49.5% (33.5% of Total Investments)
      
1,225
  
Dormitory Authority of the State of New York, 853 Schools Program Insured Revenue Bonds,
1/16 at 100.00
N/R
1,230,427
   
Harmony Heights School, Issue 1, Series 1999C, 5.500%, 7/01/18 – AMBAC Insured
      
90
  
Dormitory Authority of the State of New York, 853 Schools Program Insured Revenue Bonds,
9/15 at 100.00
N/R
90,381
   
Vanderheyden Hall Inc., Issue 2, Series 1998F, 5.250%, 7/01/18 – AMBAC Insured
      
680
  
Dormitory Authority of the State of New York, Insured Revenue Bonds, 853 Schools Program –
1/16 at 100.00
N/R
683,148
   
Anderson School, Series 1999E, Issue 2, 5.750%, 7/01/19 – AMBAC Insured
      
6,435
  
Dormitory Authority of the State of New York, Insured Revenue Bonds, Special Act School
1/16 at 100.00
AA–
6,463,507
   
District Program, Series 1999, 5.750%, 7/01/19 – NPFG Insured
      
1,000
  
Dormitory Authority of the State of New York, Master Lease Program Revenue Bonds, Nassau
8/19 at 100.00
AA
1,106,850
   
County Board of Cooperative Educational Services, Series 2009, 5.000%, 8/15/28 –
      
   
AGC Insured
      
10,840
  
Dormitory Authority of the State of New York, Revenue Bonds, Department of Health, Series
9/15 at 100.00
AA
10,882,818
   
2004-2, 5.000%, 7/01/20 – FGIC Insured
      
1,000
  
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing
10/19 at 100.00
AA
1,146,830
   
Program, Series 2009A, 5.625%, 10/01/29 – AGC Insured
      
4,000
  
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational
No Opt. Call
AA
4,189,920
   
Facilities, 1989 Resolution, Series 2000C, 5.750%, 5/15/16 – AGM Insured
      
1,000
  
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational
No Opt. Call
Aa2
1,125,790
   
Facilities, Series 1993A, 5.500%, 5/15/19 – AMBAC Insured
      
2,610
  
Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue
No Opt. Call
AA
2,826,421
   
Bonds, City University System, Series 1993A, 5.750%, 7/01/18 – AGM Insured
      
6,435
  
Dormitory Authority of the State of New York, State and Local Appropriation Lease Bonds,
9/15 at 100.00
AA
6,460,418
   
Upstate Community Colleges, Series 2005A, 5.000%, 7/01/19 – FGIC Insured
      
   
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
      
   
Purpose Series 2011C:
      
995
  
5.000%, 3/15/34
No Opt. Call
AAA
1,122,012
25,100
  
5.000%, 3/15/41
3/21 at 100.00
AAA
27,927,515
   
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
No Opt. Call
AAA
8,448,450
10,000
  
5.000%, 2/15/40
No Opt. Call
AAA
11,050,800
   
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
      
   
Purpose Series 2014A:
      
2,500
  
5.000%, 2/15/26
2/24 at 100.00
AAA
2,951,325
5,000
  
5.000%, 2/15/29
2/24 at 100.00
AAA
5,748,650
10,000
  
5.000%, 2/15/30
2/24 at 100.00
AAA
11,440,200
7,000
  
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
3/24 at 100.00
AAA
7,723,870
   
Purpose Series 2014C. Group C, 5.000%, 3/15/44
      
1,500
  
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
3/25 at 100.00
AAA
1,732,530
   
Purpose Series 2015A, 5.000%, 3/15/31
      
28,280
  
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2013A,
3/23 at 100.00
AAA
31,415,404
   
5.000%, 3/15/43
      
3,000
  
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2014A,
3/24 at 100.00
AAA
3,438,120
   
5.000%, 3/15/34
      
8,100
  
Erie County Industrial Development Agency, New York, School Facility Refunding Revenue Bonds,
5/23 at 100.00
AA
9,298,719
   
Buffalo City School District, Series 2013A, 5.000%, 5/01/28
      
10,125
  
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
5/19 at 100.00
AA
11,212,121
   
City School District Project, Series 2009A, 5.000%, 5/01/31
      
   
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012
      
   
Series 2011A:
      
23,030
  
5.750%, 2/15/47
2/21 at 100.00
A
26,117,402
6,000
  
5.250%, 2/15/47
2/21 at 100.00
A
6,526,800
1,850
  
5.000%, 2/15/47 – AGM Insured
2/21 at 100.00
AA
1,979,260
   
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A:
      
51,590
  
5.000%, 2/15/47 – FGIC Insured
2/17 at 100.00
A
54,160,730
4,200
  
5.000%, 2/15/47 – AGM Insured
2/17 at 100.00
AA
4,420,374
   
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
1,137,930
9,000
  
5.750%, 7/01/18 – AGM Insured (UB)
No Opt. Call
AA
10,241,370
3,675
  
Monroe County Industrial Development Agency, New York, School Facility Revenue Bonds,
5/23 at 100.00
AA
4,185,678
   
Rochester Schools Modernization Project, Series 2013, 5.000%, 5/01/28
      
560
  
Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003,
1/16 at 100.00
A–
562,850
   
5.500%, 1/01/34
      
10,440
  
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
1/17 at 100.00
AA
11,041,344
   
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured
      
   
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
6,143,742
5,360
  
5.000%, 7/15/43
1/25 at 100.00
AA
5,945,366
11,000
  
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal
7/25 at 100.00
AA
12,292,830
   
Series 2015S-2, 5.000%, 7/15/40
      
5
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
9/15 at 100.00
AAA
5,021
   
Series 2002B, 5.250%, 5/01/16 – NPFG Insured
      
1,470
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
5/17 at 100.00
AAA
1,567,520
   
Series 2007B, 5.000%, 11/01/30
      
   
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
6,942,245
24,155
  
5.000%, 2/01/42
2/22 at 100.00
AAA
26,801,180
32,500
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
5/22 at 100.00
AAA
36,308,350
   
Fiscal 2012 Series F-1, 5.000%, 5/01/39
      
5,100
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
No Opt. Call
AAA
5,822,619
   
Fiscal 2013 Series F-1, 5.000%, 2/01/29
      
13,530
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
2/24 at 100.00
AAA
15,103,268
   
Fiscal 2014 Series D-1, 5.000%, 2/01/37
      
   
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate
      
   
Fiscal 2015 Series B-1:
      
10,000
  
5.000%, 8/01/33
8/24 at 100.00
AAA
11,388,100
3,960
  
5.000%, 8/01/35
8/24 at 100.00
AAA
4,473,058
   
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
      
   
Subordinate Lien Series 2011C:
      
10,000
  
5.500%, 11/01/35
11/20 at 100.00
AAA
11,790,400
1,000
  
5.000%, 11/01/39
11/20 at 100.00
AAA
1,132,090
8,490
  
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds,
2/21 at 100.00
AAA
9,582,408
   
Subordinate Series 2011-D1, 5.000%, 2/01/35
      
   
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
22,288,886
4,000
  
5.750%, 4/01/41
4/21 at 100.00
AA–
4,751,960
   
New York Convention Center Development Corporation, Hotel Fee Revenue Bonds, Tender Option
      
   
Bonds Trust 3095:
      
2,890
  
13.719%, 11/15/30 – AMBAC Insured (IF) (4)
11/15 at 100.00
AA+
3,036,234
12,940
  
13.705%, 11/15/44 – AMBAC Insured (IF) (4)
11/15 at 100.00
AA+
13,557,109
   
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General,
      
   
Series 2005B:
      
28,795
  
5.500%, 4/01/20 – AMBAC Insured
No Opt. Call
AA+
34,146,263
5,725
  
5.000%, 4/01/21 – AMBAC Insured
10/15 at 100.00
AA+
5,793,643
   
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
1,845,504
1,945
  
5.000%, 3/15/30
9/20 at 100.00
AAA
2,243,441
8,600
  
New York State Urban Development Corporation, Revenue Refunding Bonds, State Facilities,
No Opt. Call
AA
9,576,616
   
Series 1995, 5.700%, 4/01/20 – AGM Insured (UB)
      
12,070
  
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, General
3/23 at 100.00
AAA
13,670,965
   
Purpose Series 2013C, 5.000%, 3/15/32
      
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
      
11,000
  
0.000%, 8/01/41 – NPFG Insured
No Opt. Call
AA–
1,886,280
13,520
  
0.000%, 8/01/42 – FGIC Insured
No Opt. Call
AA–
2,166,850
10,000
  
0.000%, 8/01/44 – NPFG Insured
No Opt. Call
AA–
1,400,100
19,900
  
0.000%, 8/01/45 – NPFG Insured
No Opt. Call
AA–
2,604,114
201,690
  
0.000%, 8/01/46 – NPFG Insured
No Opt. Call
AA–
24,666,687
89,130
  
0.000%, 8/01/47 – AMBAC Insured
No Opt. Call
CCC–
9,141,173
10,000
  
Sales Tax Asset Receivable Corporation of New York City, New York, Sales Tax Asset Revenue
10/24 at 100.00
AAA
11,708,200
   
Bonds, Fiscal 2015 Series A, 5.000%, 10/15/31
      
825
  
Suffolk County Industrial Development Agency, New York, Revenue Bonds, Hampton Bays Public
10/15 at 100.00
A3
827,986
   
Library, Series 1999A, 6.000%, 10/01/19 – NPFG Insured
      
857,210
  
Total Tax Obligation/Limited
    
610,700,172
   
Transportation – 15.1% (10.2% of Total Investments)
      
13,950
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding
No Opt. Call
AA–
15,939,828
   
Series 2012F, 5.000%, 11/15/30
      
8,800
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2008A,
11/17 at 100.00
AA–
9,490,008
   
5.250%, 11/15/36
      
27,285
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2010D,
11/20 at 100.00
AA–
29,994,946
   
5.250%, 11/15/40
      
6,090
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013B,
5/23 at 100.00
AA–
6,874,636
   
5.000%, 11/15/30
      
480
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013C,
5/23 at 100.00
AA–
536,165
   
5.000%, 11/15/32
      
1,900
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013D,
11/23 at 100.00
AA–
2,202,252
   
5.250%, 11/15/30
      
   
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013E:
      
14,000
  
5.000%, 11/15/31
11/23 at 100.00
AA–
15,827,000
1,785
  
5.000%, 11/15/32
11/23 at 100.00
AA–
2,005,394
10,000
  
5.000%, 11/15/38
11/23 at 100.00
AA–
11,011,700
9,370
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2014B,
5/24 at 100.00
AA–
10,688,078
   
5.250%, 11/15/35
      
8,055
  
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade
11/21 at 100.00
A+
8,865,333
   
Center Project, Series 2011, 5.000%, 11/15/44
      
3,400
  
New York State Thruway Authority, General Revenue Bonds, Refunding Series 2007H, 5.000%,
1/18 at 100.00
AA–
3,698,248
   
1/01/25 – FGIC Insured
      
   
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–
2,405,424
3,950
  
5.000%, 9/01/34
9/24 at 100.00
AA–
4,510,979
1,000
  
5.000%, 9/01/35
9/24 at 100.00
AA–
1,138,610
5,155
  
5.000%, 9/01/36
9/24 at 100.00
AA–
5,860,771
9,755
  
5.000%, 9/01/39
9/24 at 100.00
AA–
10,967,059
   
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–
3,936,735
6,535
  
5.000%, 5/01/31
5/25 at 100.00
AA–
7,592,494
3,595
  
5.000%, 5/01/35
5/25 at 100.00
AA–
4,107,863
10,780
  
5.000%, 5/01/45
5/25 at 100.00
AA–
12,086,752
4,185
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty
No Opt. Call
AA
5,513,319
   
Eighth Series 2008, Trust 2920, 18.022%, 3/16/17 – AGM Insured (IF)
      
2,000
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy
12/23 at 100.00
AA–
2,234,080
   
Ninth Series 2013, 5.000%, 12/01/43
      
2,500
  
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
12/15 at 100.00
BBB
2,557,550
   
Terminal LLC Project, Eighth Series 2010, 6.500%, 12/01/28
      
5,480
  
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
No Opt. Call
AA–
6,596,057
   
Subordinate Lien Series 2002E, 5.500%, 11/15/20 – NPFG Insured
      
165,525
  
Total Transportation
    
186,641,281
   
U.S. Guaranteed – 9.5% (6.4% of Total Investments) (5)
      
5,315
  
Albany Capital Resource Corporation, New York, St. Peter’s Hospital Project, Series 2011,
11/20 at 100.00
A3 (5)
6,571,253
   
6.125%, 11/15/30 (Pre-refunded 11/15/20)
      
5,935
  
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter’s Hospital, Series
11/17 at 100.00
A3 (5)
6,529,212
   
2008A, 5.250%, 11/15/32 (Pre-refunded 11/15/17)
      
4,205
  
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter’s Hospital, Series
11/17 at 100.00
A3 (5)
4,638,325
   
2008D, 5.375%, 11/15/32 (Pre-refunded 11/15/17)
      
1,000
  
Albany Industrial Development Agency, New York, Revenue Bonds, Saint Peter’s Hospital, Series
11/17 at 100.00
A3 (5)
1,100,120
   
2008E, 5.250%, 11/15/32 (Pre-refunded 11/15/17)
      
950
  
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, St. Lukes Roosevelt
8/15 at 100.00
N/R (5)
955,482
   
Hospital, Series 2005, 4.900%, 8/15/31 (Pre-refunded 8/15/15)
      
9,400
  
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University,
7/17 at 100.00
AA– (5)
10,238,292
   
Series 2007A, 5.250%, 7/01/32 (Pre-refunded 7/01/17) – NPFG Insured
      
   
Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk
      
   
County Issue, Series 1986:
      
425
  
7.375%, 7/01/16 (ETM)
No Opt. Call
Aaa
439,216
130
  
7.375%, 7/01/16 – BIGI Insured (ETM)
No Opt. Call
Aaa
134,349
10,000
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory
7/16 at 100.00
Aa2 (5)
10,444,900
   
Facilities, Series 2006A, 5.000%, 7/01/31 (Pre-refunded 7/01/16) – NPFG Insured
      
   
Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A:
      
1,595
  
5.000%, 7/01/25 (Pre-refunded 7/01/17) – NPFG Insured
7/17 at 100.00
AA– (5)
1,730,671
5,205
  
5.000%, 7/01/37 (Pre-refunded 7/01/17) – NPFG Insured
7/17 at 100.00
AA– (5)
5,647,737
3,415
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2007,
7/17 at 100.00
AA– (5)
3,702,611
   
5.000%, 7/01/32 (Pre-refunded 7/01/17) – AMBAC Insured
      
3,000
  
Dormitory Authority of the State of New York, School Districts Revenue Bond Financing Program,
10/15 at 100.00
AA– (5)
3,036,210
   
Peekskill City School District, Series 2005D, 5.000%, 10/01/33 (Pre-refunded 10/01/15) –
      
   
NPFG Insured
      
   
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
      
   
City School District Project, Series 2007A:
      
5,980
  
5.750%, 5/01/27 – AGM Insured (Pre-refunded 5/01/17) (UB)
5/17 at 100.00
AA (5)
6,536,678
21,030
  
5.750%, 5/01/28 – AGM Insured (Pre-refunded 5/01/17) (UB)
5/17 at 100.00
AA (5)
22,987,683
   
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo
      
   
City School District Project, Series 2008A:
      
1,770
  
5.750%, 5/01/27 – AGM Insured (Pre-refunded 5/01/18) (UB)
5/18 at 100.00
AA (5)
4,010,608
2,550
  
5.750%, 5/01/28 – AGM Insured (Pre-refunded 5/01/18) (UB)
5/18 at 100.00
AA (5)
5,664,701
2,000
  
Erie County, New York, General Obligation Bonds, Series 2005A, 5.000%, 12/01/18 (Pre-refunded
12/15 at 100.00
AA– (5)
2,040,020
   
12/01/15) – NPFG Insured
      
   
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 1998A:
      
5,090
  
5.000%, 4/01/23 (Pre-refunded 10/01/15) – FGIC Insured
10/15 at 100.00
AA+ (5)
5,151,589
11,000
  
4.750%, 4/01/28 (Pre-refunded 10/01/15) – FGIC Insured
10/15 at 100.00
AA+ (5)
11,126,060
35
  
New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16
8/15 at 100.00
AA (5)
35,143
   
(Pre-refunded 8/01/15) – AGM Insured
      
2,330
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal
5/17 at 100.00
N/R (5)
2,514,163
   
Series 2007B, 5.000%, 11/01/30 (Pre-refunded 5/01/17)
      
875
  
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series
10/15 at 100.00
N/R (5)
885,561
   
2005B, 5.000%, 4/01/21 (Pre-refunded 10/01/15) – AMBAC Insured
      
   
Yonkers, New York, General Obligation Bonds, Series 2005B:
      
540
  
5.000%, 8/01/19 (Pre-refunded 8/01/15)
8/15 at 100.00
A3 (5)
542,219
570
  
5.000%, 8/01/20 (Pre-refunded 8/01/15)
8/15 at 100.00
A3 (5)
572,343
108,565
  
Total U.S. Guaranteed
    
117,235,146
   
Utilities – 13.5% (9.2% of Total Investments)
      
2,450
  
Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds,
2/20 at 100.00
Baa3
2,730,844
   
NRG Dunkirk Power Project, Series 2009, 5.875%, 4/01/42
      
3,000
  
Guam Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37 – AGM Insured
10/20 at 100.00
AA
3,292,650
1,045
  
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34
10/22 at 100.00
BBB
1,113,552
   
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
6,223,200
8,000
  
0.000%, 6/01/25 – AGM Insured
No Opt. Call
AA
5,984,720
20,000
  
0.000%, 6/01/26 – AGM Insured
No Opt. Call
AA
14,285,000
10,000
  
0.000%, 6/01/27 – AGM Insured
No Opt. Call
AA
6,816,200
15,000
  
0.000%, 6/01/28 – AGM Insured
No Opt. Call
AA
9,796,350
10,000
  
0.000%, 6/01/29 – AGM Insured
No Opt. Call
AA
6,258,800
   
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A:
      
21,830
  
5.000%, 12/01/23 – FGIC Insured
6/16 at 100.00
AA–
22,636,837
27,015
  
5.000%, 12/01/25 – FGIC Insured
6/16 at 100.00
AA–
27,972,682
2,750
  
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B,
6/16 at 100.00
A–
2,843,143
   
5.000%, 12/01/35 – CIFG Insured
      
2,590
  
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A,
9/24 at 100.00
A–
2,803,571
   
5.000%, 9/01/44
      
3,310
  
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 5.500%,
5/19 at 100.00
AA+
3,797,298
   
5/01/33 – BHAC Insured
      
5,000
  
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A,
5/21 at 100.00
A–
5,422,800
   
5.000%, 5/01/38
      
6,500
  
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue
No Opt. Call
BB+
6,583,720
   
Refunding Bonds, Covanta Energy Project, Series 2012B, 4.000%, 11/01/24
      
2,635
  
Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%,
11/15 at 100.00
Aa1
2,682,852
   
11/15/19 – FGIC Insured
      
   
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE:
      
9,500
  
5.000%, 12/15/32
12/23 at 100.00
AAA
10,955,970
22,290
  
5.000%, 12/15/41
12/23 at 100.00
AAA
25,119,047
180,915
  
Total Utilities
    
167,319,236
   
Water and Sewer – 7.3% (4.9% of Total Investments)
      
5,000
  
New York City Municipal Water Finance Authority Water and Sewer Second General Resolution
6/25 at 100.00
AA+
5,601,400
   
Revenue Bonds Fiscal 2015 Series HH, 5.000%, 6/15/39
      
5,160
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
12/21 at 100.00
AA+
5,686,888
   
Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44
      
5,000
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
6/17 at 100.00
AA+
5,334,350
   
Bonds, Second Generation Resolution, Series 2007AA, 5.000%, 6/15/37
      
12,365
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
6/16 at 100.00
AAA
12,851,563
   
Bonds, Series 2006B, 5.000%, 6/15/36 – NPFG Insured (UB) (4)
      
4,085
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Second
6/23 at 100.00
AA+
4,566,009
   
General Resolution Revenue Bonds, Fiscal 2013 Series DD, 5.000%, 6/15/35
      
10,000
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Second
6/24 at 100.00
AA+
11,271,800
   
General Resolution Revenue Bonds, Fiscal Series 2014DD, 5.000%, 6/15/35
      
3,845
  
New York State Environmental Facilities Corporation, Revenue Bonds, State Revolving Funds
4/20 at 100.00
AAA
4,334,853
   
Master Financing, Series 2010C, 5.000%, 10/15/35
      
3,095
  
New York State Environmental Facilities Corporation, Revenue Bonds, State Revolving Funds
2/22 at 100.00
AAA
3,408,585
   
Master Financing, Series 2012B, 5.000%, 2/15/42
      
2,580
  
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water
6/24 at 100.00
AAA
3,019,142
   
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects,
      
   
Second Resolution Subordinated Series 2014A, 5.000%, 6/15/30
      
3,110
  
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water
6/25 at 100.00
AAA
3,582,689
   
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects,
      
   
Second Resolution Subordinated SRF Series 2015A, 5.000%, 6/15/36 (WI/DD, Settling 7/02/15)
      
22,340
  
New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds,
5/24 at 100.00
AAA
25,048,725
   
Master Financing Program, Green Bonds Series 2014B, 5.000%, 5/15/44
      
2,230
  
Upper Mohawk Valley Regional Water Finance Authority, New York, Water System Revenue Bonds,
No Opt. Call
A1
1,794,838
   
Series 2000, 0.000%, 4/01/23 – AMBAC Insured
      
   
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–
1,466,020
1,950
  
5.000%, 4/01/45
4/25 at 100.00
AA–
2,144,102
82,085
  
Total Water and Sewer
    
90,110,964
$ 2,038,367
  
Total Long-Term Investments (cost $1,724,937,753)
    
1,825,309,843
   
Floating Rate Obligations – (3.1)%
    
(38,645,000)
   
Institutional MuniFund Term Preferred Shares, at Liquidation Value – (6.4)% (6)
    
(79,000,000)
   
Variable Rate Demand Preferred Shares, at Liquidation Value – (39.6)% (7)
    
(488,800,000)
   
Other Assets Less Liabilities – 1.3%
    
16,139,262
   
Net Assets Applicable to Common Shares – 100%
    
$ 1,235,004,105
 
 
 
 
 
 
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
$ —
$1,825,309,843
$ —
$1,825,309,843
 
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 the 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.
 
As of June 30, 2015, the cost of investments was $1,690,993,023.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of June 30, 2015, were as follows:
   
Gross unrealized:
  
Appreciation
$123,962,894
Depreciation
(34,626,115)
Net unrealized appreciation (depreciation) of investments
$  89,336,779
 
(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 Investors 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)
  
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
   
investments in inverse floating rate transactions.
(5)
  
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 regarded as having an implied rating equal to the rating of such securities.
(6)
  
Institutional MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 4.3%.
(7)
  
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 26.8%.
(ETM)
  
Escrowed to maturity.
(IF)
  
Inverse floating rate investment.
(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 Municipal Income Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         August 28, 2015        
 
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 28, 2015        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         August 28, 2015