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<SEC-DOCUMENT>0000930413-04-004960.txt : 20041028
<SEC-HEADER>0000930413-04-004960.hdr.sgml : 20041028
<ACCEPTANCE-DATETIME>20041028142115
ACCESSION NUMBER:		0000930413-04-004960
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040831
FILED AS OF DATE:		20041028
DATE AS OF CHANGE:		20041028
EFFECTIVENESS DATE:		20041028

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO NEW YORK MUNICIPAL INCOME FUND II
		CENTRAL INDEX KEY:			0001170311
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21078
		FILM NUMBER:		041102121

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c34118_n-q.txt
<TEXT>
                                                    ----------------------------
                                                            OMB APPROVAL
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                                                     Expires: February 28, 2006
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                                  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: 811-21078

Registrant Name: PIMCO NEW YORK MUNICIPAL INCOME FUND II

Address of Principal  Executive  Offices:  1345 Avenue of the Americas New York,
New York 10105

Name and Address of Agent for  Service:  Lawrence G.  Altadonna - 1345 Avenue of
the Americas New York, New York 10105

Registrant's telephone number, including area code: 212-739-3371

Date of Fiscal Year End: 5/31

Date of Reporting Period: 8/31/04

Form N-Q is to be used by the registered  management  investment company,  other
than a small business  investment company registered on Form N-5 (ss.ss.  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
30b 1-5  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 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. ss. 3507.


<PAGE>

ITEM 1. SCHEDULE OF INVESTMENTS


                                         PIMCO NEW YORK MUNICIPAL INCOME FUND II
                                                 SCHEDULE OF INVESTMENTS
                                                     AUGUST 31, 2004
                                                       (UNAUDITED)
<TABLE>
<CAPTION>
    PRINCIPAL
      AMOUNT                                                                                    CREDIT RATINGS
      (000)                                                                                      (MOODY'S/S&P)             VALUE*
- ------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>                                                                                   <C>               <C>
               NEW YORK MUNICIPAL BONDS & NOTES-90.7%
               Buffalo Municipal Water Fin. Auth., Water Syst. Rev.,
    $  1,250        5.00%-5.125%, 7/1/27-7/1/32, Ser. B(FSA) ..................................      Aaa/AAA           $  1,281,027

      10,000   Erie Cnty. Tobacco Asset, 6.50%, 7/15/32 .......................................      Baa1/BBB             9,760,300

               Metropolitan Transportation Auth. Rev.,
       1,850        5.00%, 11/15/30, Ser. A (FSA) .............................................      Aaa/AAA              1,880,987
      10,000        5.25%, 11/15/31, Ser. E ...................................................       A2/A               10,294,500

       7,000   Metropolitan Transportation Auth. Service Contract,
                    5.35%, 7/1/31, Ser. B .....................................................      A3/AAA               7,243,670

               New York City, GO
       4,000        5.00%, 3/1/33, Ser. I .....................................................       A2/A                4,013,720
       1,500        5.75%, 8/1/16, Ser. A .....................................................       A2/A                1,678,620

               New York City Health & Hospital Corp. Rev.,
       3,100        5.375%-5.45%, 2/15/26, Ser. A .............................................      A3/BBB               3,169,909

       1,240   New York City Industrial Dev. Agcy., Civic Fac. Rev.,
                    6.45%, 7/1/32 .............................................................      Ba3/NR               1,182,985

       1,000   New York City Industrial Dev. Agcy. Rev.
                    4.95%, 11/20/32 (GNMA) ....................................................      NR/AA+               1,006,310


               New York City Municipal Water Fin. Auth., Water & Sewer Sys. Rev.,
       3,055        4.75%, 6/15/25, Ser. D (MBIA) .............................................      Aaa/AAA              3,076,874
      20,000        5.00%-5.125%, 6/15/32-6/15/34, Ser. A .....................................      Aa2/AA+             20,380,250

               New York City Transitional Fin. Auth. Rev.,
      10,000        5.00%, 11/1/27, Ser. B ....................................................      Aa2/AA+             10,194,000
         500        5.50%, 11/1/29 (Pre-refunded @ 101, 5/1/10) (a) ...........................      Aa2/AA+                576,460


       1,500   New York City United Jewish Industrial Dev. Civic Fac. Rev.,
                    5.00%, 7/1/27 .............................................................      Aa2/NR               1,539,750

       7,785   New York City Wildlife Conservation Society Rev.,
                    5.00%, 2/1/34 (FGIC) ......................................................      Aaa/AAA              7,913,297

       3,600   Port Authority of New York & New Jersey,
                    5.00%, 4/15/32 ............................................................      Aaa/AAA              3,677,004

       6,340   Sachem Central School District of Holbrook,
                    5.00%, 6/15/28-6/15/29 ....................................................      Aaa/AAA              6,480,101

       5,000   State Board Agency School Rev.,
                    5.00%, 6/1/23, Ser. C .....................................................       NR/A+               5,117,000

       7,500   State Dormitory Auth. Lease Rev., State Univ. Dormitory Facs.,
                    5.00%, 7/1/32 .............................................................      A1/AA-               8,450,100

       8,600   State Dormitory Auth. Rev., State Personal Income Tax,
                    5.00%, 3/15/32 ............................................................       A1/AA               8,677,142

       4,270   State Dormitory Auth. Rev., Teachers College,
                    5.00%, 7/1/32 (MBIA) ......................................................      Aaa/NR               4,333,239

       2,000   State Dormitory Auth. Rev., Yeshiva Univ.,
                    5.125%, 7/1/34 (AMBAC) ....................................................      Aaa/NR               2,061,380

       1,250   State Dormitory Auth. Revs., FIT Student Housing Corp.,
                    5.125%, 7/1/34 (FGIC) .....................................................      Aaa/AAA              1,288,362

       2,000   State Dormitory Auth. Revs., Kaleida Health Hospital,
                    5.05%, 2/15/25 (FHA) ......................................................      NR/AAA               2,036,060
</TABLE>


<PAGE>


                                         PIMCO NEW YORK MUNICIPAL INCOME FUND II
                                                 SCHEDULE OF INVESTMENTS
                                                     AUGUST 31, 2004
                                                 (UNAUDITED) (CONTINUED)
<TABLE>
<CAPTION>
    PRINCIPAL
      AMOUNT                                                                                    CREDIT RATINGS
      (000)                                                                                      (MOODY'S/S&P)             VALUE*
- ------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>                                                                                   <C>               <C>
               NEW YORK MUNICIPAL BONDS & NOTES (CONTINUED)
      $5,300   State Dormitory Auth. Revs., Lenox Hill Hospital,
                    5.50%, 7/1/30 .............................................................       A3/NR            $  5,507,813

       1,400   State Dormitory Auth. Revs., Long Island Univ.,
                    5.25%, 9/1/28 .............................................................      Baa3/AA              1,443,764

       5,000   State Dormitory Auth. Revs., Memorial Sloan-Kettering Center,
                    5.00%, 7/1/34, Ser. 1 .....................................................      Aa2/AA               5,060,150

       8,850   State Dormitory Auth. Revs., North General Hospital,
                    5.00%, 2/15/25 ............................................................      NR/AA-               8,940,890

       3,225   State Dormitory Auth. Revs., New York & Presbyterian Hospital,
                    4.75%, 8/1/27(AMBAC) ......................................................      Aaa/AAA              3,224,871

       5,000   State Dormitory Auth. Revs., Saint Barnabas,
                    5.00%, 2/1/31, Ser. A (AMBAC) .............................................      Aaa/AAA              5,078,150

       6,100   State Urban Dev. Corp., Personal Income Tax,
                    5.00%, 3/15/33, Ser. C ....................................................       A1/AA               6,133,550

       6,000   State Urban Dev. Correctional & Youth Fac. Corp.
                    5.50%, 1/1/17, Ser. A .....................................................       A3/AA-              6,704,400

       2,000   State Environmental Facs. Corp., State Clean Water & Drinking,
                    5.125%, 6/15/31 ...........................................................      Aaa/AAA              2,059,980

       4,700   Triborough  Bridge &  Tunnel Auth. Revs.,
                    5.00%, 1/1/32, Ser. A. (FGIC) .............................................      Aaa/AAA              4,765,894

               Tobacco Settlement Asset Backed, Inc.,
      25,000        5.75%, 7/15/32 ............................................................      Baa3/BBB            22,897,500
      10,000        6.375%, 7/15/39 ...........................................................      Baa3/BBB+            9,827,400

       2,000   Warren & Washington Cnty. Indl. Dev. Agy. Fac. Rev.,
                    5.00%, 12/1/35, Ser. A (FSA) ..............................................      Aaa/AAA              2,017,540

         750   Westchester Cnty. Indl Dev. Agcy. Continuing Care,
                    6.50%, 1/1/34 .............................................................       NR/NR                 768,788
                                                                                                                       ------------
               Total New York Municipal Bonds & Notes (cost-$208,381,103) .....................                         211,743,737
                                                                                                                       ------------

               OTHER MUNICIPAL BONDS & NOTES-4.0%
       5,675   Children Trust Fund Puerto Rico Tobacco Settlement Rev.,
                    5.625%, 5/15/43 ...........................................................      Baa3/BBB             4,996,270
       1,500   Puerto Rico Commonwealth Highway & Transportation Auth.,
                    Ser. D, 5.25%, 7/1/38 .....................................................      Baa1/A               1,536,630
         750   Puerto Rico Electric Power Authority, Power Revenue
                    Ser. NN, 5.125%, 7/1/29 ...................................................       A3/A-                 768,405
       1,900   Puerto Rico Pub. Fin. Corp.,
                    Ser. A, 5.75%, 8/1/27 .....................................................      Baa2/BBB+            2,138,583

                                                                                                                       ------------
               Total Other Municipal Bonds & Notes (cost-$9,763,780) ..........................                           9,439,888
                                                                                                                       ------------

               NEW YORK VARIABLE RATE NOTES (b)(c)(d)-3.4%
       6,994   Long Island Power Auth. Elec. Syst. Rev.,
                    16.32%, 12/1/26, Ser. 339 (MBIA) (cost-$7,006,339) ........................      Aaa/NR               7,934,553
                                                                                                                       ------------
</TABLE>
<PAGE>


                                         PIMCO NEW YORK MUNICIPAL INCOME FUND II
                                                 SCHEDULE OF INVESTMENTS
                                                     AUGUST 31, 2004
                                                 (UNAUDITED)(CONTINUED)
<TABLE>
<CAPTION>
    PRINCIPAL
      AMOUNT                                                                                    CREDIT RATINGS
      (000)                                                                                      (MOODY'S/S&P)             VALUE*
- ------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>                                                                                   <C>               <C>
               OTHER VARIABLE RATE NOTES (b)(c)(d)-1.2%
               CALIFORNIA-1.2%
      $1,800   State Economic Recovery, GO
                    20.055%, 1/1/10,  Ser. A (cost-$2,478,414) ................................      Aa3/NR            $  2,827,350
                                                                                                                       ------------

               U.S. TREASURY BILLS (e)- 1.0%
       2,233        1.1349%-1.39/50%, 9/2/04-9/16/04 (cost-$2,232,276) ........................      Aaa/AAA              2,232,208
                                                                                                                       ------------

               Total Investments before call options written (cost-$229,861,912)-100.3% .......                        $234,177,736
                                                                                                                       ------------

 Contracts
- ---------------
               CALL OPTIONS WRITTEN (f)-(0.3)%

               U.S. Treasury Bond Futures, Chicago Board of Trade:

         (69)       Strike Price $109, expires 11/26/04 .......................................                            (261,985)
        (127)       Strike Price $108, expires 11/26/04 .......................................                            (535,781)
                                                                                                                       ------------
               Total call options written (premium received-$645,160) .........................                            (797,766)
                                                                                                                       ------------

               Total Investments, net of call options written (cost-$229,216,752)-100% ........                        $233,379,970
                                                                                                                       ============
</TABLE>

- ------------------------------------------------

  *  Portfolio securities and other financial instruments to which market
     quotations are readily available are stated at market value. The Fund's
     investments are valued daily by an independent pricing service. Prices
     obtained from an independent pricing service use information provided by
     market makers or estimates of market values obtained from yield data
     relating to investments or securities with similar characteristics.
     Short-term investments maturing in sixty days or less are valued at
     amortized cost, if their original maturity was 60 days or less or by
     amortizing their value on the 61st day prior to maturity, if the original
     term to maturity exceeded 60 days. Securities for which market quotations
     are not readily available or if a development/significant event occurs that
     may significantly impact the value of the security may be fair valued,
     pursuant to guidelines established by the Board of Trustees. The prices
     used by the Fund to value securities may differ from the value that would
     be realized if the securities were sold. The Fund's net asset value is
     determined daily at the close of regular trading (normally 4:00 p.m.
     Eastern time) on the New York Stock Exchange.

(a)  Pre-refunded bonds are collaterlaized by U.S. Government or other eligible
     securities which are held in escrow and used to pay principal and interest
     and retire the bonds at the earliest refunding date.

(b)  144A Security - Security exempt from registration under Rule 144A of the
     Securities Act of 1933. These securities may be resold in transactions
     exempt from registration, typically to qualified institutional investors.

(c)  Residual Interest/Tax Exempt Municipal Bonds. The interest rate shown bears
     an inverse relationship to the interest rate on another security or the
     value of an index.

(d)  Variable Rate Notes - instruments whose interest rates change on specific
     date (such as a coupon date or interest payment date) and/or whose
     interest rates vary with changes in a designated base rate (such as the
     prime interest rate).

(e)  All or partial principal amount segregated as initial margin on futures
     contracts.

(f)  Non-income producing securities.

Glossary:
- ---------
AMBAC - insured by American Municipal Bond Assurance Corp.
FGIC - insured by insured Financial Guaranty Insurance Co.
FHA - insured by Federal Housing Administration
FSA - insured by Financial Security Assurance, Inc.
GNMA - insured by Government National Mortgage Association
GO - General Obligation Bonds
MBIA - insured by Municipal Bond Investors Assurance
NR - not rated

<PAGE>


ITEM 2. CONTROLS AND PROCEDURES


(a)  The registrant's President and Chief Executive Officer and Principal
     Financial Officer have concluded that the registrant's disclosure controls
     and procedures (as defined in Rule 30a-2(c) under the Investment Company
     Act of 1940, as amended are effective based on their evaluation of these
     controls and procedures as of a date within 90 days of the filing date of
     this document.

(b)  There were no significant changes in the registrant's internal controls or
     in factors that could affect these controls subsequent to the date of their
     evaluation, including any corrective actions with regard to significant
     deficiencies and material weaknesses.


ITEM 3. EXHIBITS

        (a)     Exhibit 99.CERT - Certification  pursuant to Section 302 of
the Sarbanes-Oxley Act of 2002


                                   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: Pimco New York Municipal Income Fund II Inc.

By /s/ Brian S. Shlissel
President & Chief Executive Officer

Date: October 28, 2004

By /s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: October 28, 2004

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
dated indicated.

By /s/ Brian S. Shlissel
President & Chief Executive Officer

Date: October 28, 2004

By /s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: October 28, 2004

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c34118_ex99cert.txt
<TEXT>
                                                                 EXHIBIT 99.CERT

                                                    CERTIFICATIONS

I, Brian S. Shlissel, certify that:

     1.   I have reviewed this report Form N-Q of New York Municipal Income II
          Fund Inc.;

     2.   Based on my knowledge, this report does not contain any untrue
          statement of a material fact or omit to state a material fact
          necessary to make the statements made, in light of the circumstances
          under which such statements were made, not misleading with respect to
          the period covered by the report;

     3.   Based on my knowledge, the schedules on investments included in this
          report fairly present in all material respects the investments of the
          registrant as of the end of the fiscal quarter for which the report is
          filed;

     4.   The registrant's other certifying officer(s) and I are responsible for
          establishing and maintaining disclosure controls and procedures (as
          defined in Rule 30a-3(c) under the Investment Company Act of 1940) and
          internal control over financial reporting (as defined in Rule 30a-3(d)
          under the Investment Company Act of 1940) for the registrant and have:

               a.   Designed such disclosure controls and procedures, or caused
                    such disclosure controls and procedures to be designed under
                    our supervision, to ensure that material information
                    relating to the registrant, including its consolidated
                    subsidiaries, is made known to us by others within those
                    entities, particularly during the period in which this
                    report is being prepared;

               b.   Designed such internal control over financial reporting, or
                    caused such internal control over financial reporting to be
                    designed under our supervision, to provide reasonable
                    assurance regarding the reliability of financial reporting
                    and the preparation of financial statements for external
                    purposes in accordance with generally accepted accounting
                    principles:

               c.   Evaluated the effectiveness of the registrant's disclosure
                    controls and procedures and presented in this report our
                    conclusions about the effectiveness of the disclosure
                    controls and procedures, as of a date within 90 days prior
                    to the filing date of this report, based on such evaluation;
                    and

               d.   Disclosed in this report any change in the registrant's
                    internal control over financial reporting that occurred
                    during the registrant's most recent fiscal quarter that has
                    materially affected, or is reasonably likely to materially
                    affect, the registrant's internal control over financial
                    reporting; and

     5.   The registrant's other certifying officer(s) and I have disclosed to
          the registrant's auditors and the audit committee of the registrant's
          board of directors (or persons performing the equivalent functions):

               a.   All significant deficiencies and material weaknesses in the
                    design or operation of internal control over financial
                    reporting which are reasonably likely to adversely affect
                    the registrant's ability to record, process, summarize, and
                    report financial information; and

               b.   Any fraud, whether or not material, that involves management
                    or other employees who have a significant role in the
                    registrant's control over financial reporting.

Date: October 28, 2004
Signature & Title: /s/ Brian S. Shlissel
Brian S. Shlissel, President & Chief Executive Officer

<PAGE>


I, Lawrence G. Altadonna, certify that:

     5.   I have reviewed this report Form N-Q of ;

     6.   Based on my knowledge, this report does not contain any untrue
          statement of a material fact or omit to state a material fact
          necessary to make the statements made, in light of the circumstances
          under which such statements were made, not misleading with respect to
          the period covered by the report;

     7.   Based on my knowledge, the schedules on investments included in this
          report fairly present in all material respects the investments of the
          registrant as of the end of the fiscal quarter for which the report is
          filed;

     8.   The registrant's other certifying officer(s) and I are responsible for
          establishing and maintaining disclosure controls and procedures (as
          defined in Rule 30a-3(c) under the Investment Company Act of 1940) and
          internal control over financial reporting (as defined in Rule 30a-3(d)
          under the Investment Company Act of 1940) for the registrant and have:

               a.   Designed such disclosure controls and procedures, or caused
                    such disclosure controls and procedures to be designed under
                    our supervision, to ensure that material information
                    relating to the registrant, including its consolidated
                    subsidiaries, is made known to us by others within those
                    entities, particularly during the period in which this
                    report is being prepared;

               b.   Designed such internal control over financial reporting, or
                    caused such internal control over financial reporting to be
                    designed under our supervision, to provide reasonable
                    assurance regarding the reliability of financial reporting
                    and the preparation of financial statements for external
                    purposes in accordance with generally accepted accounting
                    principles:

               c.   Evaluated the effectiveness of the registrant's disclosure
                    controls and procedures and presented in this report our
                    conclusions about the effectiveness of the disclosure
                    controls and procedures, as of a date within 90 days prior
                    to the filing date of this report, based on such evaluation;
                    and

               d.   Disclosed in this report any change in the registrant's
                    internal control over financial reporting that occurred
                    during the registrant's most recent fiscal quarter that has
                    materially affected, or is reasonably likely to materially
                    affect, the registrant's internal control over financial
                    reporting; and

     6.   The registrant's other certifying officer(s) and I have disclosed to
          the registrant's auditors and the audit committee of the registrant's
          board of directors (or persons performing the equivalent functions):

               a.   All significant deficiencies and material weaknesses in the
                    design or operation of internal control over financial
                    reporting which are reasonably likely to adversely affect
                    the registrant's ability to record, process, summarize, and
                    report financial information; and

               b.   Any fraud, whether or not material, that involves management
                    or other employees who have a significant role in the
                    registrant's control over financial reporting.

Date: October 28, 2004
Signature & Title: /s/ Lawrence G. Altadonna
Lawrence G. Altadonna, Treasurer, Principal Financial & Accounting Officer

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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