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<SEC-DOCUMENT>0000930413-09-002103.txt : 20090420
<SEC-HEADER>0000930413-09-002103.hdr.sgml : 20090420
<ACCEPTANCE-DATETIME>20090420134041
ACCESSION NUMBER:		0000930413-09-002103
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090228
FILED AS OF DATE:		20090420
DATE AS OF CHANGE:		20090420
EFFECTIVENESS DATE:		20090420

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:		09758679

	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>c57127_nq.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c57127_nq.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<BR>

<P align="center">&nbsp;</P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width=18% align=center>&nbsp;</TD>
    <TD width=64% align=center><B><FONT size=2 face="serif">UNITED STATES</FONT></B> </TD>
    <TD width=2% align=center>&nbsp;</TD>
    <TD width=1% rowspan="4" align=center valign="middle"  style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-top:1px solid #000000;">&nbsp;</TD>
    <TD width=15% rowspan="4" align=center valign="middle" style="border-bottom:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000;"><div align=center><u><font size=1 face="serif">OMB
            APPROVAL</font></u><font size=1 face="serif">&nbsp; </font></div>
        <div align="left"><FONT size=1 face="serif">OMB Number: 3235-0578 </FONT><BR>
          <FONT size=1 face="serif">Expires: April 30, 2010 </FONT><BR>
          <FONT size=1 face="serif">Estimated average burden </FONT><BR>
          <FONT size=1 face="serif">hours per response: 10.5</FONT></div></TD>
  </TR>
  <TR valign="bottom">
    <TD align=center nowrap>&nbsp;</TD>
    <TD align=center nowrap><B><FONT size=2 face="serif">SECURITIES AND EXCHANGE
          COMMISSION</FONT></B> </TD>
    <TD align=center nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=center>&nbsp;</TD>
    <TD align=center><B><FONT size=2 face="serif">Washington, DC 20549</FONT></B> </TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=center>&nbsp;</TD>
    <TD align=center><b><font size=2 face="serif">FORM N-Q</font></b></TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
    <TD align=center>&nbsp;</TD>
  </TR>
</TABLE>
<P align="center"><B><FONT size=2 face="serif"><br>
  QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B><BR>
  <B><FONT size=2 face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Investment Company Act File Number: 811-21078</FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant Name: PIMCO New York Municipal Income Fund
II</FONT></P>
<P align="left">
<FONT size=2 face="serif">Address of Principal Executive Offices: 1345 Avenue of the Americas <br>
New York, New York 10105 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Name and Address of Agent for Service: Lawrence G. Altadonna &#150; 1345 Avenue of the Americas <br>
New York, New York 10105 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: 212-739-3371 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Date of Fiscal Year End: May 31, 2009 </FONT><BR>
<BR>
<FONT size=2 face="serif">Date of Reporting Period: February 28, 2009</FONT></P>
<P align="left">
<FONT size=2 face="serif">Form N-Q is to be used by management investment
companies, other than small business investment companies registered on Form
N-5 (</FONT><FONT size=2 face="sans-serif">&#167;&#167;</FONT><FONT size=2 face="serif">
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. </FONT></P>
<P align="left">
<FONT size=2 face="serif">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 (&#147;OMB&#148;) 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. </FONT><FONT size=2 face="sans-serif">&#167;
</FONT><FONT size=2 face="serif">3507. </FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left">
<B><FONT size=2 face="serif">Item 1. Schedule of Investments</FONT></B></P>


<BR>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap colspan=4 style="border-bottom:1px solid #000000;">
<b><font size=2 face="sans-serif">PIMCO New York Municipal Income Fund II Schedule
of Investments</font></b><br>
<FONT size=1 face="sans-serif">
February 28, 2009 (unaudited)</FONT>		</TD>
	<TD style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Principal</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Amount</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Credit Rating</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap style="border-bottom:3px solid #000000;"><FONT size=1 face="sans-serif">(000)</FONT> </TD>
  <TD style="border-bottom:3px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:3px solid #000000;">&nbsp;</TD>
  <TD align=center nowrap style="border-bottom:3px solid #000000;"><FONT size=1 face="sans-serif">(Moody's/S&amp;P)</FONT> </TD>
  <TD style="border-bottom:3px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:3px solid #000000;"><FONT size=1 face="sans-serif">Value</FONT> </TD>
  <TD align=left nowrap style="border-bottom:3px solid #000000;"><font size=1 face="sans-serif">*</font></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">NEW YORK MUNICIPAL BONDS &amp; NOTES&#151;90.5%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#36;2,400</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Erie Cnty. Industrial Dev. Agcy., Orchard Park Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">6.00%, 11/15/36</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;1,487,424</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Erie Cnty. Tobacco Asset Securitization Corp. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">6.50%, 7/15/32, (Pre-refunded @ &#36;101, 7/15/10) (a)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,817,300</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Liberty Dev. Corp. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,120</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 10/1/35 (d)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,376,422</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap><FONT size=1 face="sans-serif">Goldman Sachs Headquarters,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 10/1/35</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,458,560</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,500</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.50%, 10/1/37</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,926,280</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Metropolitan Transportation Auth. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,850</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 11/15/30, Ser. A (FSA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,830,538</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">8,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 11/15/31, Ser. E</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A2/A</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,792,400</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.35%, 7/1/31, Ser. B</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">6,909,630</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,570</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Mortgage Agcy. Rev., 4.75%, 10/1/27, Ser. 128</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa1/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,335,594</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,400</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Nassau Cnty. Industrial Dev. Agcy. Rev., Amsterdam at Harborside,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">6.70%, 1/1/43, Ser. A</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,823,472</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">New York City, GO, 5.00%, 3/1/33, Ser. I</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,710,160</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">New York City Health &amp; Hospital Corp. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,100</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.375%, 2/15/26, Ser. A</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,095,721</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.45%, 2/15/26, Ser. A</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,002,080</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">New York City Industrial Dev. Agcy. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">975</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Eger Harbor, 4.95%, 11/20/32, Ser. A (GNMA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AA+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">855,270</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,415</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Liberty Interactive Corp., 5.00%, 9/1/35</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba2/BB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">948,517</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,500</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Queens Baseball Stadium, 6.50%, 1/1/46</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,590,330</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,205</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Staten Island Univ. Hospital, 6.45%, 7/1/32, Ser. C</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba2/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">923,307</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,500</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">United Jewish Appeal Fed., 5.00%, 7/1/27</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa1/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,516,665</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Yankee Stadium,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 3/1/31, (FGIC)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/BBB-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,083,500</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,400</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 3/1/36, (MBIA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/AA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,886,400</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,900</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">7.00%, 3/1/49</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,233,837</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,500</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">New York City Municipal Water Finance Auth. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 6/15/40, Ser. EE</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,505,790</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">New York City Transitional Finance Auth. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 11/1/27, Ser. B</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa1/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,079,100</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 1/15/39, Ser. S-3</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/AA-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,824,450</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,785</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">New York City Trust for Cultural Res. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 2/1/34, (MBIA-FGIC)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,664,722</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,600</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Port Auth. of New York &amp; New Jersey Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 4/15/32, Ser. 125 (FSA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,607,848</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">State Dormitory Auth. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 3/15/38, Ser. A</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,897,490</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">80</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 9/1/28, (Pre-refunded @ &#36;102, 9/1/09) (Radian)(a)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A3/BBB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">83,390</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,320</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 9/1/28, (Radian)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A3/BBB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,169,718</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,490</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.50%, 5/15/31, Ser. A (AMBAC)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,404,165</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,600</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Catholic Health of Long Island, 5.10%, 7/1/34</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/BBB</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,216,188</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Kaleida Health Hospital, 5.05%, 2/15/25, (FHA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,879,360</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,300</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Lenox Hill Hospital, 5.50%, 7/1/30</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba1/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,028,795</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">New York Univ. Hospital, 5.625%, 7/1/37, Ser. B</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba2/BB</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">675,810</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,850</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">North General Hospital, 5.00%, 2/15/25</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AA-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,525,032</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Rochester General Hospital, 5.00%, 12/1/35, (Radian)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A3/BBB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,539,050</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Teachers College,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,270</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 7/1/32, (MBIA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,289,172</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.50%, 3/1/39</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,935,320</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Yeshiva Univ., 5.125%, 7/1/34, (AMBAC)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,705,700</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
</TABLE>
<BR>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>

<TR valign="bottom">
  <TD align=left nowrap colspan=4 style="border-bottom:1px solid #000000;"><b><font size=2 face="sans-serif">PIMCO
        New York Municipal Income Fund II Schedule of Investments</font></b><br>
    <FONT size=1 face="sans-serif"> February 28, 2009 (unaudited)</FONT> </TD>
  <TD style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap><FONT size=1 face="sans-serif">Principal</FONT> </TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap><FONT size=1 face="sans-serif">Amount</FONT> </TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=center nowrap><FONT size=1 face="sans-serif">Credit Rating</FONT> </TD>
  <TD>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=center nowrap style="border-bottom:3px solid #000000;"><FONT size=1 face="sans-serif">(000)</FONT> </TD>
  <TD style="border-bottom:3px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD align=left nowrap style="border-bottom:3px solid #000000;">&nbsp;</TD>
  <TD align=center nowrap style="border-bottom:3px solid #000000;"><FONT size=1 face="sans-serif">(Moody's/S&amp;P)</FONT> </TD>
  <TD style="border-bottom:3px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD align=right nowrap style="border-bottom:3px solid #000000;"><FONT size=1 face="sans-serif">Value</FONT> </TD>
  <TD align=left nowrap style="border-bottom:3px solid #000000;"><font size=1 face="sans-serif">*</font></TD>
</TR>

<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#36;1,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">State Thruway Auth. Rev., 4.75%, 1/1/29, Ser. G (FSA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;937,980</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">6,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">State Urban Dev. Corp. Rev., 5.00%, 3/15/36, Ser. B-1 (d)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,818,260</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">14,500</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Tobacco Settlement Asset Backed, Inc. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.75%, 7/15/32, Ser. 1, (Pre-refunded @ &#36;100, 7/15/12) (a)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">16,493,460</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Triborough Bridge &amp; Tunnel Auth. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">710</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 1/1/32, (FGIC-TCRS)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AA-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">705,172</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 11/15/34 (d)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AA-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,079,350</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,815</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Ulster Cnty. Industrial Dev. Agcy. Rev., 6.00%, 9/15/37, Ser. A</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,198,608</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Warren &amp; Washington Cntys. Industrial Dev. Agcy. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Glens Falls Hospital, 5.00%, 12/1/35, Ser. A (FSA)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AAA</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,931,200</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">750</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Westchester Cnty. Industrial Dev. Agcy. Continuing Care</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Retirement Rev., Kendal on
 Hudson, 6.50%, 1/1/34,</FONT></TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">(Pre-refunded @ &#36;100, 1/1/13) (a)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">878,190</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Total New York Municipal Bonds &amp; Notes (cost&#151;&#36;171,957,006)</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">166,676,727</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">OTHER MUNICIPAL BONDS &amp; NOTES&#151;4.9%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<B><FONT size=1 face="sans-serif">Puerto Rico&#151;4.9%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,600</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Aqueduct &amp; Sewer Auth. Rev., 6.00%, 7/1/38, Ser. A</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/BBB-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,190,324</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,675</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Children's Trust Fund Tobacco Settlement Rev., 5.625%, 5/15/43</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/BBB</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,797,029</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Sales Tax Financing Corp. Rev.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">14,250</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">zero coupon, 8/1/54, Ser. A (AMBAC)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">569,002</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">12,900</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">zero coupon, 8/1/56, Ser. A</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">407,898</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Total Other Municipal Bonds &amp; Notes (cost&#151;&#36;12,490,708)</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">8,964,253</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">CORPORATE BONDS &amp; NOTES </FONT></B><FONT size=2 face="sans-serif">(c)</FONT><B><FONT size=2 face="sans-serif">&#151;2.0%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,300</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">American General Finance Corp., 4.625%, 9/1/10</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/BB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,095,201</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,900</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">CIT Group, Inc., 5.80%, 7/28/11</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa2/BBB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,424,244</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">300</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">International Lease Finance Corp., 1.469%, 5/24/10, FRN</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/BBB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">212,022</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Total Corporate Bonds &amp; Notes (cost&#151;&#36;4,384,864)</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">3,731,467</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">OTHER VARIABLE RATE NOTES </FONT></B><FONT size=2 face="sans-serif">(b)</FONT><B><FONT size=2 face="sans-serif">&#151;1.0%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<B><FONT size=1 face="sans-serif">Puerto Rico&#151;1.0%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,900</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Public Finance Corp. Rev., 5.75%, 8/1/27, Ser. A (cost&#151;&#36;1,965,345)</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba1/BBB-</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">1,870,037</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">SHORT-TERM INVESTMENTS </FONT></B><FONT size=2 face="sans-serif">(c)</FONT><B><FONT size=2 face="sans-serif">&#151;1.6%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">Corporate Notes&#151;1.6%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">American General Finance Corp.,</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
    <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">700</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">1.785%, 10/2/09, FRN</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/BB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">611,923</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">500</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">4.625%, 5/15/09</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/BB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">429,773</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,900</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">CIT Group, Inc., 4.125%, 11/3/09</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa2/BBB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,775,305</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">200</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">International Lease Finance Corp., 1.494%, 1/15/10, FRN</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/BBB+</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">160,644</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<FONT size=1 face="sans-serif">Total Corporate Notes (cost&#151;&#36;2,950,002)</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">2,977,645</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD width="90%" align=left nowrap>
<B><FONT size=1 face="sans-serif">Total Investments </FONT></B><FONT size=1 face="sans-serif">(cost-&#36;193,747,925)&#151;</FONT><B><FONT size=1 face="sans-serif">100.0%</FONT></B>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="sans-serif">&nbsp;&nbsp;&#36;184,220,129</FONT></B>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<BR>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left">
<B><FONT size=1 face="sans-serif">Notes to Schedule of Investments:</FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">*</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Market value is generally determined on the basis of last reported
sales prices, or if no sales are reported, based on quotes obtained from a quotation reporting system, established market makers, or pricing services.</FONT></P>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Portfolio securities and other financial instruments for which market quotations are not readily available or if a development/event occurs that may significantly impact the value of a security, are
fair-valued, in good faith, pursuant to procedures established by the Board of Trustees, or persons acting at their discretion pursuant to procedures established by the Board of Trustees. The Fund's investments are valued daily using prices supplied
by an independent pricing service or dealer quotations, or by using the last sale price on the exchange that is the primary market for such securities, or the last quoted mean price for those securities for which the over-the-counter market is the
primary market or for listed securities in which there were no sales. Prices obtained from independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or
securities with similar characteristics. Exchange traded options, futures and options on futures are valued at the settlement price determined by the relevant exchange. Short-term
securities maturing in 60 days or less are valued at amortized cost, if their original term to 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.</FONT></P>
	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">The prices used by the Fund to
    value securities may differ from the value that would be realized if the
    securities were sold and these differences could be material. The Fund&#146;s
    net asset value is normally determined daily as of the close of regular trading
    (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange ("NYSE")
    on each day the NYSE is open for business.</FONT></P>
	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR>
<TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Pre-refunded bonds are collateralized 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
(payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate).</FONT></P>	</TD>
</TR>
<TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(b)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Variable Rate Notes&#151;Instruments whose interest rates change on specified 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). The interest rate disclosed reflects the rate in effect on February 28, 2009.</FONT></P>	</TD>
</TR>
<TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(c)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">All or partial amount segregated as collateral for reverse repurchase agreements.</FONT></P>	</TD>
</TR>
<TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(d)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Residual Interest Bonds held in
    trust&#151;Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired
the residual interest certificates. These securities serve as collateral in a financing transaction.</FONT></P>	</TD>
</TR>
</TABLE>
<P align="left">
<B><FONT size=1 face="sans-serif">Glossary:</FONT></B><BR>
<FONT size=1 face="sans-serif">AMBAC&#151;insured by American Municipal Bond Assurance Corp.</FONT><BR>
<FONT size=1 face="sans-serif">FGIC&#151;insured by Financial Guaranty Insurance Co.</FONT><BR>
<FONT size=1 face="sans-serif">FHA&#151;insured by Federal Housing Administration</FONT><BR>
<FONT size=1 face="sans-serif">FRN&#151;Floating Rate Note, maturity date shown is date of next rate change and the interest rate disclosed reflects the rate in effect on February 28, 2009.</FONT><BR>
<FONT size=1 face="sans-serif">FSA&#151;insured by Financial Security Assurance, Inc.</FONT><BR>
<FONT size=1 face="sans-serif">GNMA&#151;insured by Government National Mortgage Association</FONT><BR>
<FONT size=1 face="sans-serif">GO&#151;General Obligation Bond</FONT><BR>
<FONT size=1 face="sans-serif">MBIA&#151;insured by Municipal Bond Investors Assurance</FONT><BR>
<FONT size=1 face="sans-serif">NR&#151;Not Rated</FONT><BR>
<FONT size=1 face="sans-serif">Radian&#151;insured by Radian Guaranty, Inc.</FONT><BR>
<FONT size=1 face="sans-serif">TCRS&#151;Temporary Custodian Receipts</FONT></P>
<P align="left">
<B><FONT size=1 face="sans-serif">Other Investments:</FONT></B></P>
<P align="left">
<FONT size=1 face="sans-serif">(1) Open reverse repurchase agreements at February 28, 2009:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="42%" align=left nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Counterparty</FONT>	</TD>
	<TD width="9%" align=center nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Rate</FONT>	</TD>
	<TD width="12%" align=center nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Trade Date</FONT>	</TD>
	<TD width="12%" align=center nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Maturity Date</FONT>	</TD>
	<TD width="13%" align=right nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Principal &amp; Interest</FONT>	</TD>
	<TD width="5%" style="border-bottom:3px solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=right nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Principal</FONT>	</TD>
    <TD width="0%" align=right nowrap style="border-bottom:3px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Barclays Bank</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">0.90%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">1/28/09</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">3/2/09</FONT>	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;964,747</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;964,000</FONT>	</TD>
    <TD align=right nowrap>&nbsp;&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">0.90%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">2/25/09</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">3/12/09</FONT>	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,343,326</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,343,000</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Credit Suisse First Boston</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">0.85%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">2/19/09</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">3/6/09</FONT>	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">348,074</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">348,000</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;&#36;5,655,000</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:3px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<br>
<BR>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap colspan=5>
<FONT size=1 face="sans-serif">Collateral for open reverse repurchase agreements at February 28, 2009 as reflected in the Schedule of Investments:</FONT>	</TD>
	<TD width="0%">&nbsp;	</TD>
	<TD width="11%" align=left nowrap>&nbsp;	</TD>
	<TD width="4%">&nbsp;	</TD>
	<TD width="8%" align=left nowrap>&nbsp;	</TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
</TR>
<TR>
	<TD colspan=10>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD width="19%" align=left nowrap>&nbsp;	</TD>
	<TD width="12%">&nbsp;	</TD>
	<TD width="22%" align=left nowrap>&nbsp;	</TD>
	<TD width="9%" align=left nowrap>&nbsp;	</TD>
	<TD width="14%" align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Market</FONT>	</TD>
    <TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Counterparty</FONT>	</TD>
	<TD style="border-bottom:3px solid #000000;">&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:3px solid #000000;">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Description</FONT>	</TD>
	<TD align=center nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Rate</FONT>	</TD>
	<TD align=center nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Maturity Date</FONT>	</TD>
	<TD style="border-bottom:3px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Principal</FONT>	</TD>
	<TD style="border-bottom:3px solid #000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">Value</FONT>	</TD>
    <TD align=center nowrap style="border-bottom:3px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Barclays Bank</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">American General Finance Corp.</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">1.785%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">10/2/09</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;700,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;611,923</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">American General Finance Corp.</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">4.625%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">5/15/09</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">500,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">429,773</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">American General Finance Corp.</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">4.625%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">9/1/10</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,300,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,095,201</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">CIT Group, Inc.</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">4.125%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">11/3/09</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,900,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,775,305</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">CIT Group, Inc.</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">5.80%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">7/28/11</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,900,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,424,244</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Credit Suisse First Boston</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">International Lease Finance Corp.</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">1.469%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">5/24/10</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">300,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">212,022</FONT>	</TD>
    <TD align=right nowrap>&nbsp;&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">International Lease Finance Corp.</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">1.494%</FONT>	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">1/15/10</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">200,000</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">160,644</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:3px solid #000000;">
<FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#36;6,709,112</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:3px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<p><BR>

</p>
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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left">
<B><FONT size=1 face="sans-serif">Fair Value Measurements</FONT></B><FONT size=1 face="sans-serif">&#150;Effective
June 1, 2008, the Fund adopted Financial Accounting Standards Board ("FASB")
Statement of Financial Accounting Standards No. 157, Fair Value Measurements
 (&#147;SFAS
157&#148;).
This standard clarifies the definition of fair value for
financial reporting, establishes a framework for measuring fair value and requires
additional disclosures about the use of the fair value  measurements. Under this
standard, fair-value is defined as the price that would be received to sell an
asset or paid to transfer a liability (i.e. the "exit price") in an orderly transaction
between market participants. The three levels of the fair  value hierarchy under
SFAS 157 are described below:</FONT></P>
<div style="margin-left:60px">
<P align="left"><FONT size=1 face="sans-serif">&#149; &nbsp;&nbsp;Level 1 &#150; quoted prices
    in active markets for identical investments that the Fund has the ability
    to access</FONT><BR>
  <FONT size=1 face="sans-serif">&#149; &nbsp;&nbsp;Level 2 &#150; valuations
  based on other significant observable inputs (including quoted prices for similar</FONT><BR>
  <FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;investments, interest rates, prepayment speeds, credit risk, etc.), or quotes from inactive exchanges</FONT><BR>
  <FONT size=1 face="sans-serif">&#149; &nbsp;&nbsp;Level 3 &#150; valuations
  based on significant unobservable inputs (including the Fund's own assumptions
  in</FONT><BR>
  <FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;determining the fair value of investments)</FONT></P>
</div>
<P align="left">
<FONT size=1 face="sans-serif">The valuation techniques used by the Fund to measure fair value during the nine months ended February 28, 2009 maximized the use of observable inputs and minimized the use of unobservable inputs.</FONT></P>
<P align="left">
<FONT size=1 face="sans-serif">The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.</FONT></P>
<P align="left">
<FONT size=1 face="sans-serif">The following is a summary of the inputs used at February 28, 2009 in valuing the Fund&#146;s investments carried at value:</FONT></P>
<TABLE width="40%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=95% align=left nowrap>&nbsp;	</TD>
	<TD colspan="2" align=center nowrap>
      <FONT size=1 face="sans-serif">Investments in</FONT>	</TD>
	<TD align=center nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=95% align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">Valuation Inputs</FONT>	</TD>
	<TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;">
      <FONT size=1 face="sans-serif">Securities</FONT>	</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=95% align=left nowrap>
<FONT size=1 face="sans-serif">Level 1 - Quoted Prices</FONT>	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">&#36;</FONT>	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#151;</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=95% align=left nowrap>
<FONT size=1 face="sans-serif">Level 2 - Other Significant Observable Inputs</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">184,220,129</FONT>	</TD>
    <TD align=right nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=95% align=left nowrap>
<FONT size=1 face="sans-serif">Level 3 - Significant Unobservable Inputs</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">&#151;</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=95% align=left nowrap>
<FONT size=1 face="sans-serif">Total</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">&#36;</FONT>	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">&nbsp;&nbsp;&nbsp;184,220,129</FONT>	</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
</TR>
</TABLE>
<br>
<BR>

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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="left">
<B><FONT size=2 face="serif">Item 2. Controls and Procedures</FONT></B><FONT size=2 face="serif"> <br>
</FONT><FONT face="serif" size=2>(a)
The registrant's President &amp; Chief Executive Officer and Treasurer, Principal Financial &amp; Accounting
Officer have concluded that the registrant's disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a -3(c))), are effective
based on their evaluation of these controls and procedures as of a date within
90 days of the filing of this document. </FONT></P>
<P align="left">
<FONT face="serif" size=2>(b) There were no significant changes in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a -3(d))) that occurred during the registrant&#146;s last fiscal quarter
that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Item 3. Exhibits</FONT></B><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"> (a)
Exhibit 99.302 Cert. &#150; Certification pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002</FONT></P>
<P align="left">&nbsp;</P>
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<P align="left" style="page-break-before:always"></P><PAGE>
<BR>

<P align="center">
<B><FONT size=2 face="serif">SIGNATURES</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">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. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant: PIMCO New York Municipal Income Fund II </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Brian S. Shlissel </FONT><BR>
<FONT size=2 face="serif">President &amp; Chief Executive Officer</FONT><BR>
<BR>
<FONT size=2 face="serif">Date: April 20, 2009 </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Lawrence G. Altadonna </FONT><BR>
<FONT size=2 face="serif">Treasurer, Principal Financial &amp; Accounting Officer</FONT><BR>
<BR>
<FONT size=2 face="serif">Date: April 20, 2009 </FONT></P>
<P align="left">
<FONT size=2 face="serif">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. </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Brian S. Shlissel </FONT><BR>
<FONT size=2 face="serif">President &amp; Chief Executive Officer</FONT><BR>
<BR>
<FONT size=2 face="serif">Date: April 20, 2009 </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Lawrence G. Altadonna </FONT><BR>
<FONT size=2 face="serif">Treasurer, Principal Financial &amp; Accounting Officer<br>
</FONT><FONT size=2 face="serif">Date: April 20, 2009 </FONT></P>
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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c57127_ex99cert.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c57127_ex99cert.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

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<br>


<P align="right">
<B><FONT size=2 face="serif">Exhibit 99.CERT</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">CERTIFICATIONS</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">I, Brian S. Shlissel, certify that:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">I have reviewed this report on Form N-Q of PIMCO New York Municipal Income Fund II;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">2.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">3.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Based on my knowledge, the schedules of 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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;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:</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">c.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Evaluated the effectiveness of the registrant&#146;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</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">d.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">5.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the
equivalent functions):</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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&#146;s ability to
record, process, summarize, and report financial information; and</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</FONT></P>	</TD>
</TR>
</TABLE>
<P align="left">
<FONT size=2 face="serif">Date: April 20, 2009</FONT></P>
<P align="left">
<FONT size=2 face="serif">Signature &amp; Title: /s/ Brian S. Shlissel </FONT><FONT face="serif"> </FONT><BR>
<FONT size=2 face="serif">Brian S. Shlissel, President &amp; Chief Executive Officer</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<br>


<P align="left">
<FONT size=2 face="serif">I, Lawrence G. Altadonna, certify that:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">I have reviewed this report on Form N-Q of PIMCO New York Municipal Income Fund II;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">2.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">3.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Based on my knowledge, the schedules of 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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;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:</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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;</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">c.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Evaluated the effectiveness of the registrant&#146;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</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">d.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">5.</FONT></TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the
equivalent functions):</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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&#146;s ability to
record, process, summarize, and report financial information; and</FONT></P>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</FONT></P>	</TD>
</TR>
</TABLE>
<P align="left">
<FONT size=2 face="serif">Date: April 20, 2009</FONT></P>
<P align="left">
<FONT size=2 face="serif">Signature &amp; Title: /s/ Lawrence G. Altadonna </FONT><FONT face="serif"> </FONT><BR>
<FONT size=2 face="serif">Lawrence G. Altadonna, Treasurer, Principal Financial &amp; Accounting Officer</FONT></P>

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