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:            2/28          
 
Date of reporting period:         5/31/17         
 
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 Quality Municipal Income Fund (NRK) 
 
 
 
 
  
May 31, 2017 (Unaudited) 
 
 
 
 
 
Principal 
  
 
Optional Call 
 
 
Amount (000) 
  
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
 
  
LONG-TERM INVESTMENTS – 159.2% (100.0% of Total Investments) 
 
 
 
 
 
  
MUNICIPAL BONDS – 159.2% (100.0% of Total Investments) 
 
 
 
 
 
  
Consumer Staples – 10.3% (6.5% of Total Investments) 
 
 
 
$ 8,000 
  
Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement 
8/17 at 100.00 
N/R 
$ 1,096,640 
 
  
Asset-Backed Bonds, 1st Subordinate Series 2005B, 0.000%, 6/01/47 
 
 
 
 
  
Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement 
 
 
 
 
  
Asset-Backed Bonds, Series 2005A: 
 
 
 
27,580 
  
5.000%, 6/01/38 
8/17 at 100.00 
BB 
27,585,792 
13,500 
  
5.000%, 6/01/45 
8/17 at 100.00 
BB– 
13,498,920 
10,000 
  
Erie County Tobacco Asset Securitization Corporation, New York, Tobacco Settlement 
8/17 at 100.00 
N/R 
944,500 
 
  
Asset-Backed Bonds, Series 2005C, 0.000%, 6/01/50 
 
 
 
1,310 
  
Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, 
8/17 at 100.00 
B– 
1,310,157 
 
  
Refunding Series 2006A-2, 5.250%, 6/01/26 
 
 
 
26,865 
  
Nassau County Tobacco Settlement Corporation, New York, Tobacco Settlement Asset-Backed Bonds, 
8/17 at 100.00 
B– 
26,741,958 
 
  
Series 2006A-3, 5.000%, 6/01/35 
 
 
 
4,680 
  
New York Counties Tobacco Trust VI, New York, Tobacco Settlement Pass-Through Bonds, Turbo 
6/26 at 100.00 
N/R 
4,995,432 
 
  
Term Series 2016A. Including 2016A-1, 2016A-2A and 2016A-2B, 5.000%, 6/01/51 
 
 
 
 
  
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006: 
 
 
 
4,135 
  
5.000%, 6/01/45 
6/27 at 100.00 
BBB– 
4,351,095 
49,715 
  
5.000%, 6/01/48 
6/27 at 100.00 
N/R 
51,496,288 
145,785 
  
Total Consumer Staples 
 
 
132,020,782 
 
  
Education and Civic Organizations – 28.2% (17.7% of Total Investments) 
 
 
 
3,150 
  
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue 
1/27 at 100.00 
BBB– 
3,552,287 
 
  
Bonds, Barclays Center Project, Refunding Series 2016A, 5.000%, 7/15/42 
 
 
 
 
  
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– 
3,000,499 
29,145 
  
0.000%, 7/15/47 
No Opt. Call 
BBB– 
8,235,503 
 
  
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– 
258,310 
2,535 
  
5.500%, 4/01/43 
4/23 at 100.00 
BBB– 
2,657,339 
 
  
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 
1,028,880 
5,705 
  
5.250%, 11/01/34 
11/24 at 100.00 
BB 
5,780,819 
1,500 
  
5.000%, 11/01/39 
11/24 at 100.00 
BB 
1,460,490 
 
  
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+ 
2,710,256 
3,990 
  
5.000%, 4/15/43 
4/23 at 100.00 
BB+ 
3,961,112 
3,655 
  
Dobbs Ferry Local Development Corporation, New York, Revenue Bonds, Mercy College Project, 
7/24 at 100.00 
A 
4,100,910 
 
  
Series 2014, 5.000%, 7/01/44 
 
 
 
4,990 
  
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, 
7/23 at 100.00 
A– 
5,535,207 
 
  
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– 
1,896,100 
 
  
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– 
5,206,115 
 
  
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– 
7,180,260 
 
  
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– 
1,855,067 
2,185 
  
5.500%, 1/01/39 
7/24 at 100.00 
BBB– 
2,423,536 
2,820 
  
5.500%, 1/01/44 
7/24 at 100.00 
BBB– 
3,118,638 
14,585 
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
7/23 at 100.00 
Aa3 
17,061,241 
 
  
Facilities, Refunding Series 2013A, 5.000%, 7/01/27 
 
 
 
4,750 
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
7/21 at 100.00 
Aa2 
5,309,027 
 
  
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 
4,256,175 
 
  
Facilities, Series 2012A, 5.000%, 7/01/37 
 
 
 
 
  
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 
3,663,025 
3,465 
  
5.000%, 7/01/33 
7/25 at 100.00 
Aa3 
4,062,158 
 
  
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 
3,512,748 
2,930 
  
5.000%, 7/01/42 
7/27 at 100.00 
Aa3 
3,453,327 
 
  
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– 
406,373 
1,320 
  
5.000%, 7/01/37 – NPFG Insured 
7/17 at 100.00 
AA– 
1,324,290 
6,680 
  
Dormitory Authority of the State of New York, Revenue Bonds, Columbia University, Series 
4/21 at 100.00 
AAA 
7,515,134 
 
  
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 
1,145,660 
5,980 
  
5.750%, 11/01/40 – AGM Insured 
5/21 at 100.00 
AA 
6,798,961 
12,970 
  
Dormitory Authority of the State of New York, Revenue Bonds, Icahn School of Medicine at Mount 
7/25 at 100.00 
A– 
14,591,380 
 
  
Sinai, Refunding Series 2015A, 5.000%, 7/01/40 
 
 
 
1,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College, 
7/19 at 100.00 
Baa2 
1,068,940 
 
  
Series 2009, 5.250%, 7/01/29 
 
 
 
3,250 
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 
No Opt. Call 
Aa2 
3,431,903 
 
  
1998A, 6.000%, 7/01/18 – NPFG Insured 
 
 
 
 
  
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 
1,878,300 
4,000 
  
5.500%, 7/01/40 – AMBAC Insured 
No Opt. Call 
Aa2 
5,488,720 
 
  
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 
10,615,680 
8,955 
  
5.000%, 7/01/45 
7/25 at 100.00 
Aa2 
10,364,069 
10,850 
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 
7/26 at 100.00 
Aa2 
13,100,507 
 
  
2016A, 5.000%, 7/01/32 
 
 
 
 
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2017A: 
 
 
 
4,000 
  
5.000%, 7/01/38 (WI/DD, Settling 6/01/17) 
7/27 at 100.00 
Aa2 
4,752,840 
5,620 
  
5.000%, 7/01/39 (WI/DD, Settling 6/01/17) 
7/27 at 100.00 
Aa2 
6,666,950 
2,800 
  
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell 
7/20 at 100.00 
Aa1 
3,106,712 
 
  
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 
5,552,500 
11,560 
  
5.000%, 7/01/40 
7/20 at 100.00 
Aa1 
12,811,486 
 
  
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 
903,576 
1,500 
  
5.000%, 7/01/44 
7/24 at 100.00 
A3 
1,670,880 
 
  
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 
2,798,300 
2,000 
  
5.250%, 7/01/21 – AMBAC Insured 
No Opt. Call 
A1 
2,305,400 
 
  
Dormitory Authority of the State of New York, Revenue Bonds, Saint Joseph's College, 
 
 
 
 
  
Series 2010: 
 
 
 
1,815 
  
5.250%, 7/01/25 
7/17 at 100.00 
Ba1 
1,819,302 
2,000 
  
5.250%, 7/01/35 
7/20 at 100.00 
Ba1 
2,124,860 
8,925 
  
Dormitory Authority of the State of New York, Revenue Bonds, Vaughn College of Aeronautics & 
12/26 at 100.00 
BB– 
9,177,667 
 
  
Technology, Series 2016A, 5.500%, 12/01/36 
 
 
 
1,000 
  
Dutchess County Local Development Corporation, New York, Revenue Bonds, Marist College 
7/23 at 100.00 
A2 
1,100,500 
 
  
Project, Series 2013A, 5.000%, 7/01/39 
 
 
 
7,695 
  
Glen Cove Local Economic Assistance Corporation, New York, Revenue Bonds, Garvies Point Public 
1/34 at 100.00 
N/R 
5,655,286 
 
  
Improvement Project, Capital Appreciation Series 2016C, 0.000%, 1/01/55 (4) 
 
 
 
 
  
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– 
2,041,665 
1,785 
  
5.000%, 9/01/43 
9/23 at 100.00 
A– 
1,993,470 
1,400 
  
Monroe County Industrial Development Corporation, New York, Revenue Bonds, Saint John Fisher 
6/24 at 100.00 
A– 
1,635,872 
 
  
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 
356,896 
350 
  
5.000%, 7/01/45 
7/25 at 100.00 
BBB 
383,065 
 
  
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 
1,080,960 
1,000 
  
6.375%, 1/01/39 – AGC Insured 
1/19 at 100.00 
AA 
1,084,210 
 
  
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 
8/17 at 100.00 
BBB 
6,831,424 
5,000 
  
5.000%, 1/01/36 – AMBAC Insured 
8/17 at 100.00 
BBB 
5,012,100 
1,030 
  
4.750%, 1/01/42 – AMBAC Insured 
8/17 at 100.00 
BBB 
1,030,937 
14,500 
  
5.000%, 1/01/46 – AMBAC Insured 
8/17 at 100.00 
BBB 
14,534,800 
4,730 
  
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project 
3/19 at 100.00 
AA 
5,206,689 
 
  
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 
8/17 at 100.00 
Baa1 
4,290,315 
31,650 
  
5.000%, 3/01/36 – NPFG Insured 
8/17 at 100.00 
AA– 
32,120,319 
20,210 
  
4.500%, 3/01/39 – FGIC Insured 
8/17 at 100.00 
Baa1 
20,255,877 
3,400 
  
New York City Trust for Cultural Resources, New York, Revenue Bonds, Whitney Museum of 
1/21 at 100.00 
A 
3,794,672 
 
  
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+ 
657,912 
1,000 
  
5.000%, 5/01/42 
5/22 at 100.00 
BBB+ 
1,091,250 
1,450 
  
Onondaga Civic Development Corporation, New York, Revenue Bonds, Le Moyne College Project, 
7/22 at 100.00 
Baa2 
1,542,800 
 
  
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– 
1,132,980 
 
  
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 
1,554,326 
1,000 
  
5.250%, 7/01/36 – AGM Insured 
1/21 at 100.00 
A2 
1,107,070 
4,000 
  
5.375%, 7/01/41 – AGM Insured 
1/21 at 100.00 
A2 
4,449,840 
3,700 
  
Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, 
9/20 at 100.00 
A3 
4,061,934 
 
  
Series 2010A, 5.125%, 9/01/40 
 
 
 
360,245 
  
Total Education and Civic Organizations 
 
 
360,706,588 
 
  
Financials – 1.6% (1.0% of Total Investments) 
 
 
 
1,615 
  
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue, 
No Opt. Call 
A 
2,040,407 
 
  
Series 2005, 5.250%, 10/01/35 
 
 
 
13,835 
  
New York Liberty Development Corporation, Revenue Bonds, Goldman Sachs Headquarters Issue, 
No Opt. Call 
A 
18,122,328 
 
  
Series 2007, 5.500%, 10/01/37 
 
 
 
15,450 
  
Total Financials 
 
 
20,162,735 
 
  
Health Care – 3.6% (2.3% of Total Investments) 
 
 
 
1,250 
  
Build New York City Resource Corporation, New York, Revenue Bonds, New York Methodist 
7/24 at 100.00 
A3 
1,456,113 
 
  
Hospital Project, Refunding Series 2014, 5.000%, 7/01/27 
 
 
 
2,455 
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, 
8/19 at 100.00 
AA+ 
2,733,520 
 
  
Hospital for Special Surgery, Series 2009, 6.250%, 8/15/34 
 
 
 
4,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish 
5/21 at 100.00 
A 
4,403,800 
 
  
Obligated Group, Series 2011A, 5.000%, 5/01/41 
 
 
 
 
  
Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center 
 
 
 
 
  
Obligated Group, Series 2017: 
 
 
 
1,000 
  
5.000%, 12/01/34 
6/27 at 100.00 
Baa3 
1,114,030 
300 
  
5.000%, 12/01/36 
6/27 at 100.00 
Baa3 
332,352 
900 
  
Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest 
7/20 at 100.00 
A– 
1,002,420 
 
  
Systems Inc., Series 2010A, 5.750%, 7/01/40 – AGM Insured 
 
 
 
7,940 
  
Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest 
7/26 at 100.00 
A– 
8,938,614 
 
  
Systems, Inc. Project, Series 2016B, 5.000%, 7/01/46 
 
 
 
1,875 
  
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue 
2/21 at 100.00 
AA 
2,166,938 
 
  
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– 
4,257,630 
 
  
Hospital Project, Series 2013A, 5.000%, 12/01/42 
 
 
 
2,800 
  
Monroe County Industrial Development Corporation, New York, Revenue Bonds, Rochester General 
12/26 at 100.00 
A– 
3,158,680 
 
  
Hospital Project, Series 2017, 5.000%, 12/01/46 
 
 
 
5,585 
  
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health 
7/21 at 100.00 
A– 
6,153,385 
 
  
Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28 
 
 
 
565 
  
Westchester County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series 
11/20 at 100.00 
BBB 
627,156 
 
  
2010-C2, 6.125%, 11/01/37 
 
 
 
2,260 
  
Westchester County Local Development Corporation, New York, Revenue Bonds, Westchester 
11/25 at 100.00 
BBB 
2,467,332 
 
  
Medical Center Obligated Group Project, Refunding Series 2016, 5.000%, 11/01/46 
 
 
 
5,740 
  
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, 
7/17 at 100.00 
BB– 
5,750,734 
 
  
Series 2001A, 7.125%, 7/01/31 
 
 
 
2,035 
  
Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John's Riverside Hospital, 
8/17 at 100.00 
BB– 
2,038,805 
 
  
Series 2001B, 7.125%, 7/01/31 
 
 
 
42,605 
  
Total Health Care 
 
 
46,601,509 
 
  
Housing/Multifamily – 0.1% (0.1% of Total Investments) 
 
 
 
1,040 
  
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, 
5/20 at 100.00 
AA+ 
1,122,014 
 
  
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 
463,586 
 
  
4.500%, 11/01/29 
 
 
 
40 
  
New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project, 
11/17 at 100.00 
AA 
40,126 
 
  
Series 1996A, 6.125%, 11/01/20 – AGM Insured 
 
 
 
1,530 
  
Total Housing/Multifamily 
 
 
1,625,726 
 
  
Industrials – 3.2% (2.0% 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 
40,891,377 
 
  
Center Project, Class 1 Series 2014, 5.000%, 11/15/44 
 
 
 
 
  
Long-Term Care – 0.1% (0.0% of Total Investments) 
 
 
 
1,225 
  
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Peconic Landing At 
12/20 at 100.00 
BBB– 
1,338,570 
 
  
Southold, Inc. Project, Refunding Series 2010, 6.000%, 12/01/40 
 
 
 
 
  
Tax Obligation/General – 9.5% (6.0% of Total Investments) 
 
 
 
15 
  
Nassau County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%, 
10/19 at 100.00 
AA 
16,293 
 
  
10/01/29 – AGC Insured 
 
 
 
 
  
Nassau County, New York, General Obligation Bonds, General Improvement Series 2016B: 
 
 
 
6,955 
  
5.000%, 10/01/27 
10/26 at 100.00 
A+ 
8,510,903 
4,590 
  
5.000%, 10/01/28 
10/26 at 100.00 
A+ 
5,563,218 
 
  
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+ 
6,881,398 
500 
  
5.000%, 1/01/38 
1/26 at 100.00 
A+ 
569,485 
5,030 
  
Nassau County, New York, General Obligation Bonds, General Improvement Series 2016C, 
4/26 at 100.00 
A+ 
5,869,054 
 
  
5.000%, 4/01/33 
 
 
 
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 
1,304,052 
 
  
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 
7,023,915 
1,000 
  
5.000%, 10/01/33 
10/22 at 100.00 
AA 
1,151,570 
1,570 
  
5.000%, 10/01/34 
10/22 at 100.00 
AA 
1,795,138 
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 
10,033,203 
 
  
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 
1,157,900 
2,000 
  
5.000%, 8/01/31 
8/22 at 100.00 
AA 
2,300,860 
 
  
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 
5,842,950 
3,400 
  
5.000%, 3/01/31 
3/23 at 100.00 
AA 
3,941,314 
2,190 
  
5.000%, 3/01/32 
3/23 at 100.00 
AA 
2,532,231 
1,000 
  
5.000%, 3/01/33 
3/23 at 100.00 
AA 
1,151,590 
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 
4,468,517 
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 
9,379,760 
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 
8,944,595 
9,600 
  
New York City, New York, General Obligation Bonds, Fiscal 2017 Series B-1, 5.000%, 12/01/41 
12/26 at 100.00 
AA 
11,246,208 
5 
  
New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/20 – 
8/17 at 100.00 
AA 
5,017 
 
  
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 
3,183,923 
2,880 
  
5.000%, 10/01/34 
10/21 at 100.00 
AA 
3,260,218 
3,345 
  
New York City, New York, General Obligation Bonds, Subseries G-1 Fiscal Series 2012, 
4/22 at 100.00 
AA 
3,880,401 
 
  
5.000%, 4/01/28 
 
 
 
 
  
Rensselaer County, New York, General Obligation Bonds, Series 1991: 
 
 
 
960 
  
6.700%, 2/15/18 – AMBAC Insured 
No Opt. Call 
AA 
998,515 
960 
  
6.700%, 2/15/19 – AMBAC Insured 
No Opt. Call 
AA 
1,053,974 
960 
  
6.700%, 2/15/20 – AMBAC Insured 
No Opt. Call 
AA 
1,108,973 
747 
  
6.700%, 2/15/21 – AMBAC Insured 
No Opt. Call 
AA 
904,617 
 
  
Rochester, New York, General Obligation Bonds, Series 1999: 
 
 
 
735 
  
5.250%, 10/01/20 – NPFG Insured 
No Opt. Call 
AA– 
835,070 
735 
  
5.250%, 10/01/21 – NPFG Insured 
No Opt. Call 
AA– 
859,634 
730 
  
5.250%, 10/01/22 – NPFG Insured 
No Opt. Call 
AA– 
874,555 
730 
  
5.250%, 10/01/23 – NPFG Insured 
No Opt. Call 
AA– 
893,432 
730 
  
5.250%, 10/01/24 – NPFG Insured 
No Opt. Call 
AA– 
893,980 
730 
  
5.250%, 10/01/25 – NPFG Insured 
No Opt. Call 
AA– 
906,507 
725 
  
5.250%, 10/01/26 – NPFG Insured 
No Opt. Call 
AA– 
907,504 
1,145 
  
Three Village Central School District, Brookhaven and Smithtown, Suffolk County, New York, 
No Opt. Call 
Aa2 
1,193,582 
 
  
General Obligation Bonds, Refunding Series 2005, 5.000%, 6/01/18 – FGIC Insured 
 
 
 
103,962 
  
Total Tax Obligation/General 
 
 
121,444,056 
 
  
Tax Obligation/Limited – 44.1% (27.7% of Total Investments) 
 
 
 
525 
  
Dormitory Authority of the State of New York, Insured Revenue Bonds, 853 Schools Program – 
7/17 at 100.00 
N/R 
527,137 
 
  
Anderson School, Series 1999E, Issue 2, 5.750%, 7/01/19 – AMBAC Insured 
 
 
 
3,390 
  
Dormitory Authority of the State of New York, Insured Revenue Bonds, Special Act School 
7/17 at 100.00 
AA– 
3,403,357 
 
  
District Program, Series 1999, 5.750%, 7/01/19 – NPFG Insured 
 
 
 
1,000 
  
Dormitory Authority of the State of New York, Master BOCES Program Lease Revenue Bonds, 
8/19 at 100.00 
AA 
1,087,950 
 
  
Nassau County Board of Cooperative Educational Services, Series 2009, 5.000%, 8/15/28 – 
 
 
 
 
  
AGC Insured 
 
 
 
105 
  
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing 
10/19 at 100.00 
AA 
115,427 
 
  
Program, Series 2009A, 5.625%, 10/01/29 – AGC Insured 
 
 
 
1,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, State University Educational 
No Opt. Call 
Aa2 
1,057,750 
 
  
Facilities, Series 1993A, 5.500%, 5/15/19 – AMBAC Insured 
 
 
 
1,790 
  
Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue 
No Opt. Call 
AA 
1,835,054 
 
  
Bonds, City University System, Series 1993A, 5.750%, 7/01/18 – AGM 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 
3/21 at 100.00 
AAA 
1,118,161 
24,000 
  
5.000%, 3/15/41 
3/21 at 100.00 
AAA 
26,560,080 
 
  
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 
8,668,230 
10,000 
  
5.000%, 2/15/40 
2/22 at 100.00 
AAA 
11,335,800 
 
  
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 
5,968,000 
10,000 
  
5.000%, 2/15/30 
2/24 at 100.00 
AAA 
11,851,200 
7,000 
  
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General 
3/24 at 100.00 
AAA 
7,973,700 
 
  
Purpose Series 2014C, Group C, 5.000%, 3/15/44 
 
 
 
 
  
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 
1,786,080 
2,500 
  
5.000%, 3/15/33 
3/25 at 100.00 
AAA 
2,941,700 
28,280 
  
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2013A, 
3/23 at 100.00 
AAA 
32,100,062 
 
  
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 
3,522,810 
 
  
5.000%, 3/15/34 
 
 
 
12,045 
  
Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2015B. 
9/25 at 100.00 
AAA 
14,246,706 
 
  
Group A,B&C, 5.000%, 3/15/36 
 
 
 
1,080 
  
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
5/23 at 100.00 
AA 
1,274,465 
 
  
City School District, Refunding Series 2013A, 5.000%, 5/01/28 
 
 
 
 
  
Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D: 
 
 
 
5,045 
  
5.000%, 11/15/27 
11/25 at 100.00 
A 
5,709,073 
6,770 
  
5.000%, 11/15/34 
11/25 at 100.00 
A 
7,367,994 
 
  
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 
AA– 
26,266,176 
6,000 
  
5.250%, 2/15/47 
2/21 at 100.00 
AA– 
6,685,860 
1,850 
  
5.000%, 2/15/47 – AGM Insured 
2/21 at 100.00 
AA 
2,043,658 
29,200 
  
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2017A, 
2/27 at 100.00 
Aa3 
34,218,896 
 
  
5.000%, 2/15/42 
 
 
 
9,000 
  
Metropolitan Transportation Authority, New York, State Service Contract Bonds, Series 2002A, 
No Opt. Call 
AA 
9,482,580 
 
  
5.750%, 7/01/18 – AGM Insured (UB) 
 
 
 
1,000 
  
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, 
No Opt. Call 
AA 
1,053,620 
 
  
Series 2002A, 5.750%, 7/01/18 – AGM Insured 
 
 
 
3,675 
  
Monroe County Industrial Development Agency, New York, School Facility Revenue Bonds, 
5/23 at 100.00 
AA 
4,312,649 
 
  
Rochester Schools Modernization Project, Series 2013, 5.000%, 5/01/28 
 
 
 
10,440 
  
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 
8/17 at 100.00 
AA 
10,532,185 
 
  
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 
6,315,138 
5,360 
  
5.000%, 7/15/43 
1/25 at 100.00 
AA 
6,140,416 
11,000 
  
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 
7/25 at 100.00 
AA 
12,746,910 
 
  
Series 2015S-2, 5.000%, 7/15/40 
 
 
 
7,500 
  
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 
1/26 at 100.00 
AA 
7,966,200 
 
  
Series 2016S-1, 4.000%, 7/15/40 
 
 
 
 
  
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 
7,094,695 
24,155 
  
5.000%, 2/01/42 
2/22 at 100.00 
AAA 
27,321,720 
32,500 
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate 
5/22 at 100.00 
AAA 
36,978,175 
 
  
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 
2/23 at 100.00 
AAA 
5,999,844 
 
  
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 
15,558,959 
 
  
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: 
 
 
 
5,000 
  
5.000%, 8/01/33 
8/24 at 100.00 
AAA 
5,879,900 
3,960 
  
5.000%, 8/01/35 
8/24 at 100.00 
AAA 
4,625,557 
9,325 
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate 
5/26 at 100.00 
AAA 
9,959,287 
 
  
Fiscal 2017 Series A-1, 4.000%, 5/01/42 
 
 
 
1,375 
  
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate 
2/27 at 100.00 
AAA 
1,645,023 
 
  
Fiscal 2017 Series E-1, 5.000%, 2/01/35 
 
 
 
 
  
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 
6,428,582 
1,000 
  
5.000%, 11/01/39 
11/20 at 100.00 
AAA 
1,114,350 
8,490 
  
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, 
2/21 at 100.00 
AAA 
9,440,795 
 
  
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 
21,405,458 
4,000 
  
5.750%, 4/01/41 
4/21 at 100.00 
AA– 
4,579,040 
28,795 
  
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 
No Opt. Call 
AA+ 
32,435,840 
 
  
2005B, 5.500%, 4/01/20 – AMBAC Insured 
 
 
 
 
  
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 
1,794,000 
1,945 
  
5.000%, 3/15/30 
9/20 at 100.00 
AAA 
2,175,483 
5,450 
  
New York State Urban Development Corporation, State Facilities Revenue Bonds, Series 1995, 
No Opt. Call 
AA 
5,902,514 
 
  
5.700%, 4/01/20 – AGM Insured (UB) (5) 
 
 
 
12,070 
  
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, 
3/23 at 100.00 
AAA 
14,198,544 
 
  
General 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– 
2,800,490 
13,520 
  
0.000%, 8/01/42 – FGIC Insured 
No Opt. Call 
AA– 
3,245,476 
10,000 
  
0.000%, 8/01/44 – NPFG Insured 
No Opt. Call 
AA– 
2,143,700 
19,900 
  
0.000%, 8/01/45 – NPFG Insured 
No Opt. Call 
AA– 
4,030,944 
201,690 
  
0.000%, 8/01/46 – NPFG Insured 
No Opt. Call 
AA– 
38,591,365 
89,130 
  
0.000%, 8/01/47 – AMBAC Insured 
No Opt. Call 
Caa3 
16,180,660 
525 
  
Suffolk County Industrial Development Agency, New York, Revenue Bonds, Hampton Bays Public 
10/17 at 100.00 
A3 
527,216 
 
  
Library, Series 1999A, 6.000%, 10/01/19 – NPFG Insured 
 
 
 
2,730 
  
Suffolk County Judicial Facilities Agency, New York, Lease Revenue Bonds, H. Lee Dennison 
11/23 at 100.00 
A– 
3,063,415 
 
  
Building, Series 2013, 5.000%, 11/01/33 
 
 
 
783,265 
  
Total Tax Obligation/Limited 
 
 
563,336,056 
 
  
Transportation – 19.9% (12.5% of Total Investments) 
 
 
 
10,000 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green 
5/26 at 100.00 
AA– 
11,517,900 
 
  
Series 2016A-1, 5.000%, 11/15/46 
 
 
 
 
  
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– 
1,949,510 
4,000 
  
5.000%, 11/15/35 
11/26 at 100.00 
AA– 
4,726,560 
13,950 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding 
11/22 at 100.00 
AA– 
16,279,510 
 
  
Series 2012F, 5.000%, 11/15/30 
 
 
 
27,285 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2010D, 
11/20 at 100.00 
AA– 
30,507,631 
 
  
5.250%, 11/15/40 
 
 
 
6,090 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013B, 
5/23 at 100.00 
AA– 
7,037,848 
 
  
5.000%, 11/15/30 
 
 
 
480 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013C, 
5/23 at 100.00 
AA– 
546,581 
 
  
5.000%, 11/15/32 
 
 
 
1,900 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2013D, 
11/23 at 100.00 
AA– 
2,252,298 
 
  
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– 
16,237,340 
1,785 
  
5.000%, 11/15/32 
11/23 at 100.00 
AA– 
2,051,786 
10,000 
  
5.000%, 11/15/38 
11/23 at 100.00 
AA– 
11,328,800 
9,370 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2014B, 
5/24 at 100.00 
AA– 
11,025,304 
 
  
5.250%, 11/15/35 
 
 
 
2,700 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2015A-1, 
5/25 at 100.00 
AA– 
3,079,620 
 
  
5.000%, 11/15/45 
 
 
 
2,570 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2016C-1, 
11/26 at 100.00 
AA– 
3,048,560 
 
  
5.000%, 11/15/34 
 
 
 
8,055 
  
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 4 World Trade 
11/21 at 100.00 
A+ 
8,967,309 
 
  
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– 
3,479,288 
 
  
1/01/25 – FGIC Insured 
 
 
 
 
  
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– 
2,323,660 
7,500 
  
5.000%, 1/01/41 
1/26 at 100.00 
A– 
8,627,475 
1,285 
  
5.000%, 1/01/46 
1/26 at 100.00 
A– 
1,470,850 
19,230 
  
5.000%, 1/01/51 
1/26 at 100.00 
A– 
21,732,400 
5,000 
  
5.250%, 1/01/56 
1/26 at 100.00 
A– 
5,791,850 
2,350 
  
4.000%, 1/01/56 
1/26 at 100.00 
A– 
2,441,509 
 
  
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– 
2,482,725 
3,950 
  
5.000%, 9/01/34 
9/24 at 100.00 
AA– 
4,652,547 
1,000 
  
5.000%, 9/01/35 
9/24 at 100.00 
AA– 
1,174,940 
5,155 
  
5.000%, 9/01/36 
9/24 at 100.00 
AA– 
6,041,815 
9,755 
  
5.000%, 9/01/39 
9/24 at 100.00 
AA– 
11,299,509 
 
  
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– 
4,032,855 
6,535 
  
5.000%, 5/01/31 
5/25 at 100.00 
AA– 
7,763,645 
3,595 
  
5.000%, 5/01/35 
5/25 at 100.00 
AA– 
4,194,682 
10,780 
  
5.000%, 5/01/45 
5/25 at 100.00 
AA– 
12,387,298 
9,000 
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred 
10/25 at 100.00 
AA– 
10,502,820 
 
  
Ninety-Fourth Series 2015, 5.250%, 10/15/55 
 
 
 
2,000 
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Seventy 
12/23 at 100.00 
AA– 
2,298,260 
 
  
Ninth Series 2013, 5.000%, 12/01/43 
 
 
 
2,500 
  
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air 
8/17 at 100.00 
Baa1 
2,541,550 
 
  
Terminal LLC Project, Eighth Series 2010, 6.500%, 12/01/28 
 
 
 
2,000 
  
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, MTA 
5/27 at 100.00 
AA– 
2,385,720 
 
  
Bridges & Tunnels, Series 2017A, 5.000%, 11/15/37 
 
 
 
5,480 
  
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding 
No Opt. Call 
AA– 
6,337,784 
 
  
Subordinate Lien Series 2002E, 5.500%, 11/15/20 – NPFG Insured 
 
 
 
221,990 
  
Total Transportation 
 
 
254,519,739 
 
  
U.S. Guaranteed – 18.0% (11.3% of Total Investments) (6) 
 
 
 
5,315 
  
Albany Capital Resource Corporation, New York, St. Peter's Hospital Project, Series 2011, 
11/20 at 100.00 
N/R (6) 
6,226,044 
 
  
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 
N/R (6) 
6,054,946 
 
  
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 
N/R (6) 
4,292,380 
 
  
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 
N/R (6) 
1,020,210 
 
  
2008E, 5.250%, 11/15/32 (Pre-refunded 11/15/17) 
 
 
 
 
  
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) 
1,114,390 
1,000 
  
5.000%, 5/01/45 (Pre-refunded 5/01/20) – AGM Insured 
5/20 at 100.00 
AA (6) 
1,114,390 
7,330 
  
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson 
8/17 at 100.00 
AA (6) 
7,393,844 
 
  
Valley Hospital Center, Series 2007, 5.000%, 8/15/27 (Pre-refunded 8/15/17) – AGM Insured 
 
 
 
9,400 
  
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, 
7/17 at 100.00 
AA– (6) 
9,434,310 
 
  
Series 2007A, 5.250%, 7/01/32 (Pre-refunded 7/01/17) – NPFG Insured 
 
 
 
6,215 
  
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
7/19 at 100.00 
Aa2 (6) 
6,743,772 
 
  
Facilities, Series 2009A, 5.000%, 7/01/39 (Pre-refunded 7/01/19) 
 
 
 
 
  
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group 
 
 
 
 
  
Revenue Bonds, Series 2008: 
 
 
 
5,430 
  
6.500%, 12/01/21 (Pre-refunded 12/01/18) 
12/18 at 100.00 
Baa3 (6) 
5,803,258 
6,780 
  
6.125%, 12/01/29 (Pre-refunded 12/01/18) 
12/18 at 100.00 
Baa3 (6) 
7,305,586 
14,770 
  
6.250%, 12/01/37 (Pre-refunded 12/01/18) 
12/18 at 100.00 
Baa3 (6) 
15,958,099 
 
  
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– (6) 
1,600,551 
5,205 
  
5.000%, 7/01/37 (Pre-refunded 7/01/17) – NPFG Insured 
7/17 at 100.00 
AA– (6) 
5,223,113 
3,000 
  
Dormitory Authority of the State of New York, Revenue Bonds, Fordham University, Series 2008B, 
7/18 at 100.00 
A2 (6) 
3,135,300 
 
  
5.000%, 7/01/38 (Pre-refunded 7/01/18) – AGC Insured 
 
 
 
 
  
Dormitory Authority of the State of New York, Revenue Bonds, Health Quest System Inc., 
 
 
 
 
  
Series 2007B: 
 
 
 
3,865 
  
5.250%, 7/01/27 (Pre-refunded 7/01/17) – AGC Insured 
7/17 at 100.00 
AA (6) 
3,879,455 
3,500 
  
5.125%, 7/01/37 (Pre-refunded 7/01/17) – AGC Insured 
7/17 at 100.00 
AA (6) 
3,512,740 
895 
  
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing 
10/19 at 100.00 
AA (6) 
992,743 
 
  
Program, Series 2009A, 5.625%, 10/01/29 (Pre-refunded 10/01/19) – AGC Insured 
 
 
 
875 
  
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series 
7/20 at 100.00 
A– (6) 
985,066 
 
  
2010, 5.250%, 7/01/30 (Pre-refunded 7/01/20) 
 
 
 
3,415 
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2007, 
7/17 at 100.00 
Aa2 (6) 
3,427,021 
 
  
5.000%, 7/01/32 (Pre-refunded 7/01/17) – AMBAC Insured 
 
 
 
 
  
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) 
10,897,900 
3,890 
  
5.000%, 7/01/39 (Pre-refunded 7/01/19) 
7/19 at 100.00 
Aa2 (6) 
4,219,250 
13,500 
  
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 
7/19 at 100.00 
Aa2 (6) 
14,642,640 
 
  
2009B, 5.000%, 7/01/39 (Pre-refunded 7/01/19) 
 
 
 
 
  
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
 
 
 
 
  
City School District, Series 2008A: 
 
 
 
3,540 
  
5.750%, 5/01/27 (Pre-refunded 5/01/18) – AGM Insured (UB) 
5/18 at 100.00 
AA (6) 
3,700,362 
5,000 
  
5.750%, 5/01/28 (Pre-refunded 5/01/18) – AGM Insured (UB) 
5/18 at 100.00 
AA (6) 
5,226,500 
10,125 
  
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
5/19 at 100.00 
AA (6) 
10,916,674 
 
  
City School District Project, Series 2009A, 5.000%, 5/01/31 (Pre-refunded 5/01/19) 
 
 
 
 
  
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A: 
 
 
 
51,590 
  
5.000%, 2/15/47 (Pre-refunded 6/30/17) – FGIC Insured 
6/17 at 100.00 
AA– (6) 
51,771,081 
4,200 
  
5.000%, 2/15/47 (Pre-refunded 6/30/17) – AGM Insured 
6/17 at 100.00 
AA (6) 
4,214,742 
3,310 
  
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2008A, 5.500%, 
5/19 at 100.00 
AA+ (6) 
3,597,540 
 
  
5/01/33 (Pre-refunded 5/01/19) – BHAC Insured 
 
 
 
4,000 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2008A, 
11/17 at 100.00 
AA– (6) 
4,080,840 
 
  
5.250%, 11/15/36 (Pre-refunded 11/15/17) 
 
 
 
4,800 
  
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2008A, 
11/17 at 100.00 
N/R (6) 
4,897,008 
 
  
5.250%, 11/15/36 (Pre-refunded 11/15/17) 
 
 
 
985 
  
Nassau County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%, 
10/19 at 100.00 
AA (6) 
1,078,151 
 
  
10/01/29 (Pre-refunded 10/01/19) – AGC Insured 
 
 
 
4,355 
  
New York City Transitional Finance Authority, New York, Future Tax Secured Revenue Bonds, 
11/20 at 100.00 
N/R (6) 
5,008,424 
 
  
Subordinate Lien Series 2011C, 5.500%, 11/01/35 (Pre-refunded 11/01/20) 
 
 
 
4,185 
  
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty 
8/17 at 100.00 
AA (6) 
4,330,805 
 
  
Eighth Series 2008, Tender Option Bond Trust 2015-XF2178, 15.809%, 8/15/32 (Pre-refunded 
 
 
 
 
  
8/15/17) – AGM Insured (IF) (5) 
 
 
 
955 
  
Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health 
7/21 at 100.00 
N/R (6) 
1,105,795 
 
  
Services of Long Island Obligated Group Project, Refunding Series 2011, 5.000%, 7/01/28 
 
 
 
 
  
(Pre-refunded 7/01/21) 
 
 
 
4,485 
  
Westchester County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series 
11/20 at 100.00 
N/R (6) 
5,245,252 
 
  
2010-C2, 6.125%, 11/01/37 (Pre-refunded 11/01/20) 
 
 
 
219,650 
  
Total U.S. Guaranteed 
 
 
230,150,182 
 
  
Utilities – 11.5% (7.2% of Total Investments) 
 
 
 
2,450 
  
Chautauqua County Industrial Development Agency, New York, Exempt Facility Revenue Bonds, 
2/20 at 100.00 
Baa3 
2,571,594 
 
  
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 
3,292,800 
1,045 
  
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/34 
10/22 at 100.00 
BBB 
1,111,201 
 
  
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 
6,940,080 
8,000 
  
0.000%, 6/01/25 – AGM Insured 
No Opt. Call 
AA 
6,676,720 
20,000 
  
0.000%, 6/01/26 – AGM Insured 
No Opt. Call 
AA 
16,146,400 
10,000 
  
0.000%, 6/01/27 – AGM Insured 
No Opt. Call 
AA 
7,789,300 
15,000 
  
0.000%, 6/01/28 – AGM Insured 
No Opt. Call 
AA 
11,258,100 
10,000 
  
0.000%, 6/01/29 – AGM Insured 
No Opt. Call 
AA 
7,125,700 
2,590 
  
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2014A, 
9/24 at 100.00 
A– 
2,926,959 
 
  
5.000%, 9/01/44 
 
 
 
5,000 
  
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 
5/21 at 100.00 
A– 
5,564,350 
 
  
5.000%, 5/01/38 
 
 
 
6,500 
  
Niagara Area Development Corporation, New York, Solid Waste Disposal Facility Revenue 
11/17 at 100.00 
BB+ 
6,518,395 
 
  
Refunding Bonds, Covanta Energy Project, Series 2012B, 4.000%, 11/01/24 
 
 
 
9,000 
  
Utility Debt Securitization Authority, New York, Restructuring Bonds, Refunding Series 2015, 
12/25 at 100.00 
AAA 
10,850,850 
 
  
5.000%, 12/15/32 
 
 
 
 
  
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2013TE: 
 
 
 
9,500 
  
5.000%, 12/15/32 
12/23 at 100.00 
AAA 
11,219,500 
22,290 
  
5.000%, 12/15/41 
12/23 at 100.00 
AAA 
25,850,827 
7,000 
  
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2016A, 
6/26 at 100.00 
AAA 
8,445,640 
 
  
5.000%, 12/15/35 
 
 
 
 
  
Utility Debt Securitization Authority, New York, Restructuring Bonds, Series 2016B: 
 
 
 
3,750 
  
5.000%, 12/15/33 
6/26 at 100.00 
AAA 
4,537,987 
3,575 
  
5.000%, 12/15/34 
6/26 at 100.00 
AAA 
4,306,874 
3,275 
  
5.000%, 12/15/35 
6/26 at 100.00 
AAA 
3,933,701 
149,975 
  
Total Utilities 
 
 
147,066,978 
 
  
Water and Sewer – 9.1% (5.7% of Total Investments) 
 
 
 
5,160 
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue 
12/21 at 100.00 
AA+ 
5,786,476 
 
  
Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44 
 
 
 
4,085 
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Second 
6/23 at 100.00 
AA+ 
4,741,010 
 
  
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+ 
11,688,700 
 
  
General Resolution Revenue Bonds, Fiscal 2014 Series DD, 5.000%, 6/15/35 
 
 
 
5,375 
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Second 
6/25 at 100.00 
AA+ 
6,275,635 
 
  
General Resolution Revenue Bonds, Fiscal 2015 Series HH, 5.000%, 6/15/39 
 
 
 
15,000 
  
New York City Municipal Water Finance Authority, New York, Water and Sewer System Second 
6/26 at 100.00 
AA+ 
17,475,750 
 
  
General Resolution Revenue Bonds, Fiscal 2017 Series CC-1, 5.000%, 6/15/46 
 
 
 
2,580 
  
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water 
6/24 at 100.00 
AAA 
3,108,539 
 
  
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 
3,702,953 
 
  
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, 
 
 
 
 
  
Second Resolution Subordinated SRF Series 2015A, 5.000%, 6/15/36 
 
 
 
6,810 
  
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water 
6/26 at 100.00 
AAA 
8,161,445 
 
  
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority 
 
 
 
 
  
Projects-Second Resolution Bonds, Series 2016A, 5.000%, 6/15/41 
 
 
 
1,000 
  
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water 
6/27 at 100.00 
AAA 
1,199,110 
 
  
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority 
 
 
 
 
  
Projects-Second Resolution Bonds, Subordinated SRF Series 2017A, 5.000%, 6/15/42 
 
 
 
22,340 
  
New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 
5/24 at 100.00 
AAA 
25,669,777 
 
  
Master Financing Program, Green Series 2014B, 5.000%, 5/15/44 
 
 
 
5,000 
  
New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 
8/26 at 100.00 
AAA 
6,008,350 
 
  
Master Financing Program, Green Series 2016B, 5.000%, 8/15/41 
 
 
 
3,845 
  
New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 
4/20 at 100.00 
AAA 
4,220,234 
 
  
Master Financing Program, Series 2010C, 5.000%, 10/15/35 
 
 
 
3,095 
  
New York State Environmental Facilities Corporation, State Revolving Funds Revenue Bonds, 2010 
2/22 at 100.00 
AAA 
3,455,320 
 
  
Master Financing Program, Series 2012B, 5.000%, 2/15/42 
 
 
 
7,020 
  
Suffolk County Water Authority, New York, Waterworks Revenue Bonds, Series 2015A, 
6/25 at 100.00 
AAA 
8,542,568 
 
  
5.250%, 6/01/36 
 
 
 
2,230 
  
Upper Mohawk Valley Regional Water Finance Authority, New York, Water System Revenue 
No Opt. Call 
A1 
1,993,954 
 
  
Bonds, 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– 
1,503,769 
1,950 
  
5.000%, 4/01/45 
4/25 at 100.00 
AA– 
2,204,397 
99,925 
  
Total Water and Sewer 
 
 
115,737,987 
$ 2,183,637 
  
Total Long-Term Investments (cost $1,888,008,661) 
 
 
2,035,602,285 
 
  
Floating Rate Obligations – (1.0)% 
 
 
(12,855,000) 
 
  
MuniFund Preferred Shares, net of deferred offering costs – (6.2)% (7) 
 
 
(79,660,621) 
 
  
Variable Rate Demand Preferred Shares, net of deferred offering costs – (51.7)% (8) 
 
 
(660,938,787) 
 
  
Other Assets Less Liabilities – (0.3)% (9) 
 
 
(3,655,890) 
 
  
Net Assets Applicable to Common Shares – 100% 
 
 
$ 1,278,491,987 
 

 
                   
Investments in Derivatives as of May 31, 2017 
 
 
 
 
 
 
Interest Rate Swaps (OTC Uncleared) 
 
 
 
 
 
 
 
 
 
Fund 
 
 
Fixed Rate 
 
Optional 
 
Unrealized 
 
Notional 
Pay/Receive 
Floating Rate 
Fixed Rate 
Payment 
Effective 
Termination 
Termination 
Appreciation 
Counterparty 
Amount 
Floating Rate 
Index 
(Annualized) 
Frequency 
Date (10) 
Date 
Date 
(Depreciation) 
JP Morgan 
$31,000,000 
Receive 
Weekly USD-SIFMA 
2.043% 
Quarterly 
5/25/18 
6/25/18 
5/25/28 
$(438,857) 
Chase Bank, N.A. 
 
 
 
 
 
 
 
 
 
 
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 risk 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 
$ — 
$2,035,602,285 
$ — 
$2,035,602,285 
Derivatives: 
 
 
 
 
Interest Rate Swaps* 
— 
(438,857) 
— 
(438,857) 
Total 
$ — 
$2,035,163,428 
$ — 
$2,035,163,428 
* 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.
As of May 31, 2017, the cost of investments was $1,873,036,556.
Gross unrealized appreciation and gross unrealized depreciation of investments as of May 31, 2017, were as follows:
   
Gross unrealized: 
 
Appreciation 
$153,478,703 
Depreciation 
(3,767,977) 
Net unrealized appreciation (depreciation) of investments 
$149,710,726 
 
(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. 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 regarded as having an implied rating equal to the ratings of such securities. 
(7) 
  
MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 3.9%. 
(8) 
  
Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total 
 
  
Investments is 32.5%. 
(9) 
  
Other assets less liabilities includes the unrealized appreciation (depreciation) of 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. 
(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 Quality Municipal Income Fund 
 
By (Signature and Title) /s/ Gifford R. Zimmerman            
       Gifford R. Zimmerman
     Vice President and Secretary
                                         
Date:         July 28, 2017        
 
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:         July 28, 2017        
 
By (Signature and Title) /s/ Stephen D. Foy                         
 
     Stephen D. Foy
     Vice President and Controller (principal financial officer)
                                                                                         
Date:         July 28, 2017