UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21179
Name of Fund: BlackRock New York Insured Municipal Income Trust (BSE)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock New
York Insured Municipal Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536.
Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 08/31/2009
Date of reporting period: 05/31/2009
Item 1 Schedule of Investments
BlackRock New York Insured Municipal Income Trust | ||||
Schedule of Investments May 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
Municipal Bonds | (000) | Value | ||
New York - 122.6% | ||||
County/City/Special | Erie County, New York, IDA, School Facility Revenue | |||
District/School District - 29.4% | Bonds (City of Buffalo Project), Series A, 5.75%, | |||
5/01/25 (a) | $ 1,000 | $ 1,057,900 | ||
Haverstraw-Stony Point Central School District, New York, | ||||
GO, 3%, 10/15/26 (a) | 910 | 698,498 | ||
Hudson Yards Infrastructure Corporation, New York, | ||||
Revenue Bonds, Series A, 5%, 2/15/47 (b) | 3,000 | 2,542,200 | ||
New York City, New York, City IDA, PILOT Revenue Bonds | ||||
(Queens Baseball Stadium Project), 6.375%, 1/01/39 (c) | 150 | 164,486 | ||
New York City, New York, City IDA, PILOT Revenue Bonds | ||||
(Queens Baseball Stadium Project), 5%, 1/01/46 (d) | 3,225 | 2,559,650 | ||
New York City, New York, City IDA, PILOT Revenue Bonds | ||||
(Yankee Stadium Project), 4.75%, 3/01/46 (e) | 1,000 | 781,260 | ||
New York City, New York, City Transitional Finance | ||||
Authority, Building Aid Revenue Bonds, Series S-2, 5%, | ||||
1/15/37 (a)(b) | 850 | 831,266 | ||
New York City, New York, City Transitional Finance | ||||
Authority, Future Tax Secured, Revenue Refunding Bonds, | ||||
Series B, 5%, 5/01/30 (d) | 3,265 | 3,290,369 | ||
New York City, New York, GO, Sub-Series C-3, 5.75%, | ||||
8/15/28 (c) | 1,000 | 1,083,470 | ||
New York City, New York, GO, Sub-Series J-1, 4.50%, | ||||
5/15/30 | 500 | 469,480 | ||
New York City, New York, Sales Tax Asset Receivable | ||||
Corporation Revenue Bonds, Series A, 5%, 10/15/32 (d) | 6,000 | 6,121,500 | ||
New York Convention Center Development Corporation, | ||||
New York, Revenue Bonds (Hotel Unit Fee Secured), 5%, | ||||
11/15/44 (d) | 6,175 | 5,469,692 | ||
25,069,771 | ||||
Education - 30.2% | Herkimer County, New York, IDA, Civic Facility Revenue | |||
Bonds (Herkimer College Foundation Inc.), 6.25%, 8/01/34 | 1,000 | 800,620 | ||
Madison County, New York, IDA, Civic Facility Revenue Bonds | ||||
(Colgate University Project), Series A, 5%, 7/01/30 (d) | 1,000 | 1,013,040 | ||
New York City, New York, City Transitional Finance | ||||
Authority, Building Aid Revenue Bonds, Series S-4, 5.50%, | ||||
1/15/33 (c) | 1,000 | 1,004,090 | ||
New York City, New York, IDA, Civic Facility Revenue | ||||
Bonds (Lycee Francais de New York Project), Series A, | ||||
5.375%, 6/01/23 (f) | 2,500 | 2,191,700 |
Portfolio Abbreviations
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities
have been abbreviated according to the list below.
GO | General Obligation Bonds | PILOT | Payment in Lieu of Taxes |
IDA | Industrial Development Authority | VRDN | Variable Rate Demand Notes |
1
BlackRock New York Insured Municipal Income Trust | ||||
Schedule of Investments May 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
Municipal Bonds | (000) | Value | ||
New York City, New York, Trust for Cultural Resources | ||||
Revenue Refunding Bonds (American Museum of Natural | ||||
History), Series A, 5%, 7/01/44 (e) | $ 2,000 | $ 1,926,320 | ||
New York State Dormitory Authority, Non-State Supported | ||||
Debt, Revenue Refunding Bonds (Mount Sinai School of | ||||
Medicine of New York University), 5%, 7/01/35 (e) | 2,500 | 2,418,525 | ||
New York State Dormitory Authority Revenue Bonds | ||||
(Brooklyn Law School), Series B, 5.125%, 7/01/30 (g) | 4,000 | 3,655,520 | ||
New York State Dormitory Authority Revenue Bonds | ||||
(Fashion Institute of Technology Student Housing | ||||
Corporation), 5.125%, 7/01/14 (b)(h) | 2,500 | 2,860,550 | ||
New York State Dormitory Authority Revenue Bonds (New | ||||
York University), Series 2, 5%, 7/01/41 (d) | 7,000 | 6,933,360 | ||
New York State Dormitory Authority Revenue Bonds (SS | ||||
Joachim and Anne Residence), 5.25%, 7/01/27 | 3,000 | 2,879,730 | ||
25,683,455 | ||||
Health - 22.0% | New York State Dormitory Authority, Hospital Revenue | |||
Bonds (Lutheran Medical Center), 5%, 8/01/31 (e)(i) | 4,500 | 4,493,700 | ||
New York State Dormitory Authority, Hospital Revenue | ||||
Refunding Bonds (New York and Presbyterian Hospital), | ||||
5%, 8/01/32 (d)(i) | 4,000 | 3,978,000 | ||
New York State Dormitory Authority, Mortgage Hospital | ||||
Revenue Bonds (Saint Barnabas Hospital), Series A, 5%, | ||||
2/01/31 (d)(i) | 5,000 | 4,993,100 | ||
New York State Dormitory Authority, Non-State Supported | ||||
Debt Revenue Bonds (Presbyterian Hospital of New York), | ||||
5.25%, 2/15/31 (a)(i) | 500 | 505,405 | ||
New York State Dormitory Authority, Non-State Supported | ||||
Debt Revenue Refunding Bonds (Saint Luke's Roosevelt | ||||
Hospital), 4.90%, 8/15/31 (i) | 750 | 703,605 | ||
New York State Dormitory Authority Revenue Bonds | ||||
(Hudson Valley Hospital Center), 5%, 8/15/36 (a)(i)(j) | 2,000 | 2,009,220 | ||
New York State Dormitory Authority, Revenue Refunding | ||||
Bonds (Winthrop S. Nassau University), Series A, 5.25%, | ||||
7/01/31 (d) | 2,000 | 2,011,220 | ||
18,694,250 | ||||
State - 9.5% | New York State Dormitory Authority, Non-State Supported | |||
Debt, Revenue Refunding Bonds (School District Financing | ||||
Program), Series A, 5%, 10/01/35 (a) | 1,000 | 986,950 | ||
New York State Dormitory Authority Revenue Bonds | ||||
(School Districts Financing Program), Series D, 5%, | ||||
10/01/30 (e) | 3,500 | 3,450,090 | ||
New York State Dormitory Authority, Revenue Refunding | ||||
Bonds (School District Financing Program), Series A, 5%, | ||||
4/01/31 (e) | 2,000 | 1,960,800 | ||
New York State Dormitory Authority, State Personal Income | ||||
Tax Revenue Bonds (Education), Series B, 5.75%, 3/15/36 | 600 | 644,562 |
2
BlackRock New York Insured Municipal Income Trust | ||||
Schedule of Investments May 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
Municipal Bonds | (000) | Value | ||
New York State Dormitory Authority, State Supported | ||||
Debt Revenue Bonds (Mental Health Services Facilities), | ||||
Series A, 5%, 2/15/22 (a) | $ 1,000 | $ 1,045,280 | ||
8,087,682 | ||||
Transportation - 23.1% | Metropolitan Transportation Authority, New York, | |||
Revenue Bonds, Series C, 6.50%, 11/15/28 | 750 | 830,385 | ||
Metropolitan Transportation Authority, New York, Revenue | ||||
Refunding Bonds, Series A, 5.25%, 11/15/31 (b)(e) | 4,250 | 4,255,227 | ||
Metropolitan Transportation Authority, New York, Revenue | ||||
Refunding Bonds, Series E, 5.25%, 11/15/31 (b)(e) | 2,660 | 2,663,272 | ||
Metropolitan Transportation Authority, New York, Service | ||||
Contract Revenue Refunding Bonds, Series A, 5%, 7/01/30 (d) | 8,000 | 8,029,120 | ||
New York State Thruway Authority, General Revenue | ||||
Refunding Bonds, Series H, 5%, 1/01/37 (a)(b) | 4,000 | 3,906,200 | ||
19,684,204 | ||||
Utilities - 8.4% | Long Island Power Authority, New York, Electric System | |||
Revenue Bonds, Series C, 5.25%, 9/01/29 (k) | 1,000 | 1,022,540 | ||
Long Island Power Authority, New York, Electric System | ||||
Revenue Refunding Bonds, Series A, 6%, 5/01/33 (c) | 2,000 | 2,164,620 | ||
Long Island Power Authority, New York, Electric System | ||||
Revenue Refunding Bonds, Series A, 5.75%, 4/01/39 (c) | 1,690 | 1,798,245 | ||
Long Island Power Authority, New York, Electric System | ||||
Revenue Refunding Bonds, Series F, 4.25%, 5/01/33 (e) | 1,415 | 1,180,520 | ||
New York City, New York, City Municipal Water Finance | ||||
Authority, Second General Resolution, Water and Sewer | ||||
System Revenue Bonds, Series FF-2, 5.50%, 6/15/40 | 400 | 420,632 | ||
New York City, New York, City Municipal Water Finance | ||||
Authority, Water and Sewer System Revenue Bonds, Series | ||||
A, 5.75%, 6/15/40 | 500 | 536,215 | ||
7,122,772 | ||||
Total Municipal Bonds in New York | 104,342,134 | |||
Puerto Rico - 15.2% | ||||
Education - 4.1% | Puerto Rico Industrial, Tourist, Educational, Medical and | |||
Environmental Control Facilities Revenue Bonds | ||||
(University Plaza Project), Series A, 5%, 7/01/33 (e) | 1,000 | 878,010 | ||
Puerto Rico Industrial, Tourist, Educational, Medical and | ||||
Environmental Control Facilities, Revenue Refunding Bonds | ||||
(Polytechnic University), Series A, 5%, 8/01/32 (f) | 4,000 | 2,621,040 | ||
3,499,050 | ||||
State - 4.1% | Puerto Rico Commonwealth, GO, Refunding, Sub-Series C-7, | |||
6%, 7/01/27 (e) | 1,000 | 1,004,100 | ||
Puerto Rico Commonwealth Highway and Transportation | ||||
Authority, Highway Revenue Refunding Bonds, Series CC, | ||||
5.50%, 7/01/31 (a) | 1,000 | 1,047,160 | ||
Puerto Rico Municipal Finance Agency, GO, Series A, 5%, | ||||
8/01/30 (a) | 1,000 | 985,800 |
3
BlackRock New York Insured Municipal Income Trust | |||||
Schedule of Investments May 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | ||||
Par | |||||
Municipal Bonds | (000) | Value | |||
Puerto Rico Public Buildings Authority, Government | |||||
Facilities Revenue Refunding Bonds, Series M-3, 6%, | |||||
7/01/28 (e)(l) | $ 500 | $ 499,405 | |||
3,536,465 | |||||
Transportation - 2.6% | Puerto Rico Commonwealth Highway and Transportation | ||||
Authority, Highway Revenue Bonds, Series Y, 6.25%, | |||||
7/01/21 (a) | 2,000 | 2,180,900 | |||
Utilities - 4.4% | Puerto Rico Commonwealth Aqueduct and Sewer | ||||
Authority, Senior Lien Revenue Bonds, Series A, 5.125%, | |||||
7/01/47 (c) | 1,925 | 1,820,511 | |||
Puerto Rico Electric Power Authority, Power Revenue | |||||
Refunding Bonds, Series VV, 5.25%, 7/01/30 (b)(e) | 2,000 | 1,921,060 | |||
3,741,571 | |||||
Total Municipal Bonds in Puerto Rico | 12,957,986 | ||||
Total Municipal Bonds - 137.8% | 117,300,120 | ||||
Municipal Bonds Transferred to Tender Option | |||||
Bond Trusts (m) | |||||
New York - 18.3% | |||||
Transportation - 18.3% | Metropolitan Transportation Authority, New York, | ||||
Revenue Refunding Bonds, Series A, 5%, 11/15/30 (a) | 6,080 | 6,125,904 | |||
Triborough Bridge and Tunnel Authority, New York, | |||||
Revenue Refunding Bonds, 5%, 11/15/32 (e) | 9,404 | 9,456,878 | |||
Total Municipal Bonds Transferred to Tender Option | |||||
Bond Trusts - 18.3% | 15,582,782 | ||||
Total Long-Term Investments | |||||
(Cost - $137,216,782) - 156.1% | 132,882,902 | ||||
Short-Term Securities | |||||
New York - 0.1% | New York City, New York, GO, Refunding, VRDN, | ||||
Series H, Sub-Series H-3, 0.28%, 6/01/09 (a)(n) | 50 | 50,000 | |||
Shares | |||||
Money Market Fund - 2.6% | CMA New York Municipal Money Fund, 0.04% (o)(p) | 2,210,559 | 2,210,559 | ||
Total Short-Term Securities | |||||
(Cost - $2,260,559) - 2.7% | 2,260,559 | ||||
Total Investments (Cost - $139,477,341*) - 158.8% | 135,143,461 | ||||
Other Assets Less Liabilities - 1.1% | 972,887 | ||||
Liability for Trust Certificates, Including Interest Expense and | |||||
Fees Payable - (10.9)% | (9,312,193) | ||||
Preferred Shares, at Redemption Value - (49.0)% | (41,681,402) | ||||
Net Assets Applicable to Common Shares - 100.0% | $ 85,122,753 |
4
BlackRock New York Insured Municipal Income Trust
Schedule of Investments May 31, 2009 (Unaudited)
* The cost and unrealized appreciation (depreciation) of investments as of May 31, 2009, as computed
for federal income tax purposes, were as follows:
Aggregate cost | $ 129,955,286 |
Gross unrealized appreciation | $ 1,343,907 |
Gross unrealized depreciation | (5,464,472) |
Net unrealized depreciation | $ (4,120,565) |
(a) FSA Insured.
(b) FGIC Insured.
(c) Assured Guaranty Insured.
(d) AMBAC Insured.
(e) NPFGC Insured.
(f) ACA Insured.
(g) XL Capital Insured.
(h) US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full
at the date indicated, typically at a premium to par.
(i) FHA Insured.
(j) BHAC Insured.
(k) CIFG Insured.
(l) Commonwealth Guaranteed.
(m) Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual
interest certificates. These securities serve as collateral in a financing transaction.
(n) Security may have a maturity of more than one year at the time of issuance but has variable rate and demand features
that qualify it as a short-term security. Rate shown is as of report date and maturity shown is the date the principal
owed can be recovered through demand.
(o) Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, were as follows:
Affiliate | Net Activity | Income |
CMA New York Municipal Money Fund | 2,210,259 | $ 11,755 |
(p) Represents the current yield as of report date.
Effective September 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial
Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value,
establishes a framework for measuring fair values and requires additional disclosures about the use of fair value
measurements. Various inputs are used in determining the fair value of investments, which are as follows:
Level 1 - price quotations in active markets/exchanges for identical securities
Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in
markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not
active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates,
yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-
corroborated inputs)
Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent
observable inputs are not available (including the Trust's own assumptions used in determining the fair value
of investments)
5
BlackRock New York Insured Municipal Income Trust
Schedule of Investments May 31, 2009 (Unaudited)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with
investing in those securities. For information about the Trust's policy regarding valuation of investments and other
significant accounting policies, please refer to the Trust's most recent financial statements as contained in its semi-
annual report.
The following table summarizes the inputs used as of May 31, 2009 in determining the fair
valuation of the Trust's investments:
Valuation | Investments in |
Inputs | Securities |
Assets | |
Level 1 | $ 2,210,559 |
Level 2 | 132,932,902 |
Level 3 | - |
Total | $ 135,143,461 |
6
Item 2 Controls and Procedures
2(a) The registrants principal executive and principal financial officers or persons performing
similar functions have concluded that the registrants disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the
1940 Act)) are effective as of a date within 90 days of the filing of this report based on the
evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) There were no changes in the registrants internal control over financial reporting (as
defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal
quarter that have materially affected, or are reasonably likely to materially affect, the
registrants internal control over financial reporting.
Item 3 Exhibits
Certifications Attached hereto
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.
BlackRock New York Insured Municipal Income Trust
By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer of
BlackRock New York Insured Municipal Income Trust
Date: July 15, 2009
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the dates indicated.
By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock New York Insured Municipal Income Trust
Date: July 15, 2009
By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock New York Insured Municipal Income Trust
Date: July 15, 2009