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<SEC-DOCUMENT>0000891804-05-000860.txt : 20050228
<SEC-HEADER>0000891804-05-000860.hdr.sgml : 20050228
<ACCEPTANCE-DATETIME>20050228163232
ACCESSION NUMBER:		0000891804-05-000860
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041231
FILED AS OF DATE:		20050228
DATE AS OF CHANGE:		20050228
EFFECTIVENESS DATE:		20050228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN NEW YORK SELECT TAX -FREE INCOME PORTFOLIO
		CENTRAL INDEX KEY:			0000885731
		IRS NUMBER:				363828115
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06624
		FILM NUMBER:		05645986

	BUSINESS ADDRESS:	
		STREET 1:		333 W WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178200

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN INSURED NEW YORK SELECT TAX FREE INCOME PORTFOLIO
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>nq.htm
<DESCRIPTION>NXN
<TEXT>
<HTML>

<HEAD>
<TITLE>
Nuveen New York Select Tax-Free Income Portfolio
</TITLE>
</HEAD>

<BODY>


<CENTER><H3>     UNITED STATES<BR>
     SECURITIES AND EXCHANGE COMMISSION<BR>
     Washington, DC 20549<BR>
<BR>
     FORM N-Q</H3><BR></CENTER>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>QUARTERLY
SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY</FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Investment Company Act file number
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-6624
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nuveen New York Select Tax-Free Income Portfolio
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(Exact name of registrant as specified in charter)</FONT></P>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 West Wacker Drive, Chicago, Illinois 60606
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(Address of principal executive offices) (Zip code)</FONT></P>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><BR>
Jessica R. Droeger&#151;Vice President and Secretary<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 West Wacker Drive, Chicago, Illinois 60606
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B><BR>
(Name and address of agent for service)</FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant's telephone number, including area code:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312-917-7700&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of fiscal year end:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
09/30
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of reporting period:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
12/31/04
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form N-Q is to be used by
management investment companies, other than small business investment companies
registered on Form N-5 (&#167;&#167; 239.24 and 274.5 of this chapter), to file
reports with the Commission, not later than 60 days after the close of the first
and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company
Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided
on Form N-Q in its regulatory, disclosure review, inspection, and policymaking
roles. </FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A registrant is required to
disclose the information specified by Form N-Q, and the Commission will make
this information public. A registrant is not required to respond to the
collection of information contained in Form N-Q unless the Form displays a
currently valid Office of Management and Budget (&#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. &#167; 3507. </FONT></P>
<PAGE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 1. Schedule of Investments</B></FONT></P>



<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<P><FONT FACE="Arial Narrow" size="3">Portfolio of Investments (Unaudited)<BR>
<B>Nuveen New York Select Tax-Free Income Portfolio </B>(NXN) <BR><I>December 31,  2004</I><BR><BR><BR> </FONT>
</BLOCKQUOTE></BLOCKQUOTE>




<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
   <TH width="1%"></TH>
   <TH width="9%"> <P align=right><FONT FACE="Arial Narrow" SIZE="1"><B>Principal</B> </FONT></P></TH>
   <TH width="1%"></TH>
   <TH width="59%"></TH>
   <TH width="12%"><P align=right><FONT FACE="Arial Narrow" SIZE="1"><B>Optional Call</B></FONT></P></TH>
   <TH width="8%"></TH>
   <TH width="10%"> <P align=right><FONT FACE="Arial Narrow" SIZE="1"><B>Market</B></FONT></P></TH>
</TR>
<TR>
   <TH></TH>
   <TH> <P align=right><FONT FACE="Arial Narrow" SIZE="1"><B>Amount (000)</B></FONT></P></TH>
   <TH></TH>
   <TH><P align=left><FONT FACE="Arial Narrow" SIZE="1"><B>Description</B> </FONT></P> </TH>
   <TH> <P align=right> <FONT FACE="Arial Narrow" SIZE="1"><B>Provisions*</B></FONT></P></TH>
   <TH> <P align=right><FONT FACE="Arial Narrow" SIZE="1"><B>Ratings**</B> </FONT></P> </TH>
   <TH> <P align=right><FONT FACE="Arial Narrow" SIZE="1"><B>Value</B> </FONT></P></TH>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Consumer Staples - 2.0%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">$ </FONT></TD>   <TD> <P align=right><FONT FACE="Arial Narrow" SIZE="1">1,120</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2002-1,  5.500%, 7/15/24</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/12 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">BBB</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">$&nbsp;&nbsp;&nbsp;  1,103,110</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Education and Civic Organizations - 12.2%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,700</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Amherst Industrial Development Agency, New York, Revenue Bonds, UBF Faculty/Student Housing</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/12 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,804,023</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Corporation, University of Buffalo Creekside Project, Series 2002A,  5.000%, 8/01/22 - AMBAC</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">100</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, St. Francis</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">10/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">A-</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">101,217</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;College, Series 2004,  5.000%, 10/01/34</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, YMCA of</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2/11 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">A-</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">517,455</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Greater New York, Series 2002,  5.250%, 8/01/21</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">570</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue Bonds,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">No Opt. Call</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">653,904</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;City University System, Series 1990C,  7.500%, 7/01/10 - FGIC Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,425</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Insured Revenue Bonds, Rochester Institute of</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/07 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,513,478</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Technology, Series 1997,  5.250%, 7/01/22 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,430</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Dormitory Authority of the State of New York, Revenue Bonds, Upstate Community Colleges, Series</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/11 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AA-</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,485,127</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;2002A,  5.000%, 7/01/23</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">785</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Insured Revenue Bonds, Iona College, Series 2002,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/12 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">822,217</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 7/01/22 - XLCA Insured</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Healthcare - 11.4%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">750</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">809,310</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;2003A,  5.250%, 2/15/21 - AMBAC Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">250</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Staten Island</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/12 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">Ba3</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">240,980</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;University Hospital, Series 2002C,  6.450%, 7/01/32</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">250</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2/15 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">257,478</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Hospital, Series 2004,  5.000%, 8/01/29 - FGIC Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">415</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian Hospital,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">463,206</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Series 2004A,  5.250%, 8/15/15 - FSA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Revenue Bonds, Winthrop-South Nassau University</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">Baa1</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">518,190</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Hospital Association, Series 2003A,  5.500%, 7/01/32</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">670</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">711,185</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Center, Series 2003-1,  5.000%, 7/01/21 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">250</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish Group,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">5/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">A3</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">263,005</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Series 2003,  5.375%, 5/01/23</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,680</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Revenue Bonds, Winthrop-South Nassau University</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/11 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,842,473</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Health System Obligated Group, Series 2001A,  5.250%, 7/01/17 - AMBAC Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,195</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Revenue Bonds, Winthrop-South Nassau University</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/11 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,310,568</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Health System Obligated Group, Series 2001B,  5.250%, 7/01/17 - AMBAC Insured</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Housing/Multifamily - 5.4%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">East Rochester Housing Authority, New York, Revenue Bonds, GNMA/FHA Secured Revenue Bonds, St.</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">12/12 at 103.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,073,290</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Mary's Residence Project, Series 2002A,  5.375%, 12/20/22</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New Hartford-Sunset Woods Funding Corporation, New York, FHA-Insured Mortgage Revenue Bonds, Sunset</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/12 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,072,520</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Woods Apartments II Project, Series 2002,  5.350%, 2/01/20</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">880</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Housing Finance Agency, FHA-Insured Mortgage Multifamily Housing Revenue Bonds,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2/05 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">881,505</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Series 1992C,  6.450%, 8/15/14 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Housing/Single Family - 8.2%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Mortgage Agency, Mortgage Revenue Bonds, Thirty-First Series A,  5.300%, 10/01/31</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">4/11 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">Aaa</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,531,475</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;(Alternative Minimum Tax)</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 101,  5.000%, 10/01/18</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">10/11 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">Aa1</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,088,880</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;(Alternative Minimum Tax)</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Long-Term Care - 9.2%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">East Rochester Housing Authority, New York, FHA-Insured Mortgage Revenue Refunding Bonds, Jewish</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/12 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,092,100</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Home of Rochester, Series 2002,  4.625%, 2/15/17</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Industrial Development Agency, New York, GNMA Collateralized Mortgage Revenue Bonds,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">11/12 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AA+</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,014,010</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Eger Harbor House Inc. Project, Series 2002A,  4.950%, 11/20/32</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/11 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,079,460</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Norwegian Christian Home and Health Center, Series 2001,  5.200%, 8/01/36 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Tax Obligation/General - 7.5%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Clarkstown, Rickland County, New York, Various Purposes Serial Bonds, Series 1992:</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">505</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.600%, 6/15/10 - AMBAC Insured</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">No Opt. Call</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">572,054</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">525</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.600%, 6/15/11 - AMBAC Insured</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">No Opt. Call</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">600,059</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">525</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.600%, 6/15/12 - AMBAC Insured</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">No Opt. Call</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">606,548</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">750</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City, New York, General Obligation Bonds, Fiscal Series 2004I,  5.000%, 8/01/17 - MBIA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">814,477</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">225</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City, New York, General Obligation Bonds, Fiscal Series 2004B,  5.250%, 8/01/15</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">A</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">246,879</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">300</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City, New York, General Obligation Bonds, Fiscal Series 2004C,  5.250%, 8/15/16</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">8/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">A</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">327,813</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">West Islip Union Free School District, Suffolk County, New York, General Obligation Bonds, Series</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">10/10 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">Aaa</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,080,650</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;2001,  5.000%, 10/01/17 - FSA Insured</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Tax Obligation/Limited - 11.7%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">600</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Battery Park City Authority, New York, Senior Revenue Bonds, Series 2003A,  5.000%, 11/01/23</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">11/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">635,766</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo City</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">5/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">567,360</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;School District, Series 2004,  5.750%, 5/01/26 (DD, settling 1/03/05) - FSA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, Series</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/12 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">560,910</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;2002A,  5.500%, 1/01/20 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">95</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Nassau County Interim Finance Authority, New York, Sales Tax Secured Revenue Bonds, Series 2001A-2,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">11/06 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">99,532</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.125%, 11/15/21 - AMBAC Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">670</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AA+</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">702,415</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;2003E,  5.000%, 2/01/23</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">50</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 1995A,  5.125%,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">4/05 at 102.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">51,337</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;4/01/15 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">750</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">4/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">811,170</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;2003A,  5.250%, 4/01/23 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">250</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 2004,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">4/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">267,460</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 4/01/21 - MBIA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Government Assistance Corporation, Series 2004A:</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">250</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 10/15/25 - MBIA Insured</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">10/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">263,745</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">200</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 10/15/26 - MBIA Insured</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">10/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">209,854</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">225</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 10/15/29 - AMBAC Insured</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">10/14 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">233,361</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">6/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,086,690</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Contingency Contract-Backed Bonds, Series 2003A-1,  5.250%, 6/01/20 - AMBAC Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">6/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AA-</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">548,080</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Contingency Contract-Backed Bonds, Series 2003B-1C,  5.500%, 6/01/21</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Yonkers Industrial Development Agency, New York, Revenue Bonds, Community Development Properties -</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2/11 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">BBB-</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">546,510</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Yonkers Inc. Project, Series 2001A,  6.250%, 2/01/16</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Transportation - 1.7%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">400</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Albany Parking Authority, New York, Revenue Bonds, Series 2001A,  5.625%, 7/15/25</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/11 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">BBB+</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">424,948</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2003A,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">No Opt. Call</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">558,585</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 11/15/15 - FGIC Insured</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>U.S. Guaranteed*** - 6.1%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,365</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">No Opt. Call</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,686,826</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;County Issue, Series 1986,  7.375%, 7/01/16</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">3/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,155,490</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Facilities and Equipment, Series 2002C-1,  5.500%, 3/15/21 (Pre-refunded to 3/15/13) - FGIC Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">485</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Suffolk County Water Authority, New York, Water Revenue Bonds, Series 1986V,  6.750%, 6/01/12</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">No Opt. Call</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">570,118</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Utilities - 5.8%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 1998A,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">6/08 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,147,620</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.125%, 12/01/22 - FSA Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2003C,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">9/13 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">1,082,860</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 9/01/16 - CIFG Insured</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">60</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Westchester County Industrial Development Agency, Westchester County, New York, Resource Recovery</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">7/07 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">BBB</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">63,119</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Revenue Bonds, RESCO Company, Series 1996,  5.500%, 7/01/09 (Alternative Minimum Tax)</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P><FONT FACE="Arial Narrow" SIZE="1"><B>Water and Sewer - 12.1%</B></FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,500</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds,</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">6/11 at 101.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AA+</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,578,024</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Fiscal Series 2001C,  5.125%, 6/15/33</FONT></P></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">&nbsp;</FONT></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">New York State Environmental Facilities Corporation, State Clean Water and Drinking Water Revolving</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Funds Revenue Bonds, New York City Municipal Water Finance Authority Loan, Series 2002B:</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.250%, 6/15/19</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">6/12 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,194,340</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,000</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;5.000%, 6/15/27</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">6/12 at 100.00</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">AAA</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">2,065,900</FONT></P></TD>
</TR>
<TR>
   <TD colspan=7><HR noshade size=1></TD>
</TR>
<TR>
   <TD><FONT FACE="Arial Narrow" SIZE="1">$ </FONT></TD>   <TD> <P align=right><FONT FACE="Arial Narrow" SIZE="1">49,200</FONT></P></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Total Long-Term Investments (cost $50,014,134) - 93.3%</FONT></P></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">52,610,666</FONT></P></TD>
</TR>
<TR>
   <TD colspan=2><HR noshade size=2></TD>   <TD colspan=5><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Other Assets Less Liabilities - 6.7%</FONT></P></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">3,762,034</FONT></P></TD>
</TR>
<TR>
   <TD colspan=3></TD>   <TD colspan=4><HR noshade size=1></TD>
</TR>
<TR>
   <TD></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Net Assets - 100%</FONT></P></TD>
   <TD></TD>
   <TD></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">$56,372,700</FONT></P></TD>
</TR>
<TR>
   <TD colspan=3></TD>   <TD colspan=4><HR noshade size=2></TD>
</TR>
</TABLE>

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
   <TH width="11%"></TH><TH width="59%"></TH><TH width="10%"></TH><TH width="20%"></TH>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">*&nbsp;&nbsp;</FONT></P></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">There may be other call provisions at varying prices at later dates.</FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">**&nbsp;&nbsp;</FONT></P></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Ratings: Using the higher of Standard &amp; Poor's or Moody's rating.</FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">***&nbsp;&nbsp;</FONT></P></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">agency securities which ensures the timely payment of principal and interest.</FONT></P></TD>
</TR>
<TR>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">(DD)&nbsp;&nbsp;</FONT></P></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Security purchased on a delayed delivery basis.</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1"></FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1"><B>Income Tax Information</B></FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1"></FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">The following information is presented on an income tax basis. Differences between amounts for</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">financial statement and federal income tax purposes are primarily due to timing differences in recognizing</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">income on taxable market discount securities and timing differences in recognizing certain gains and</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">losses on security transactions.</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1"></FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">At December 31, 2004, the cost of investments was $50,010,316.</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1"></FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2004,</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">were as follows:</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD colspan=2><HR noshade size=1></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Gross unrealized:</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Appreciation</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">$2,637,262</FONT></P></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">&nbsp;&nbsp;&nbsp;Depreciation</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">(36,912)</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD colspan=2><HR noshade size=1></TD>
</TR>
   <TR>
   <TD></TD>
   <TD><P align=left><FONT FACE="Arial Narrow" SIZE="1">Net unrealized appreciation of investments</FONT></P></TD>
   <TD><P align=right><FONT FACE="Arial Narrow" SIZE="1">$2,600,350</FONT></P></TD>
</TR>
<TR>
   <TD></TD>
   <TD colspan=2><HR noshade size=2></TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 2. Controls and Procedures.</B></FONT></P>
<OL type=a><LI>The registrant's principal executive and principal financial officers, or persons performing similar
      functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule
      30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are
      effective, as of a date within 90 days of the filing date of this report that includes the disclosure
      required by this paragraph, based on their evaluation of the controls and procedures required by Rule
      30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities
      Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).</LI>

<LI>      There were no changes in the registrant's internal control over financial reporting (as defined in Rule
      30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter
      that have materially affected, or are reasonably likely to materially affect, the registrant's internal
      control over financial reporting.</LI></OL>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 3. Exhibits.</B></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>File as exhibits as part of
this Form a separate certification for each principal executive officer and
principal financial officer of the registrant as required by Rule 30a-2(a) under
the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached
hereto. </FONT></P>
<PAGE>

<CENTER><H3><BR>SIGNATURES<BR></H3></CENTER>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Registrant)
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nuveen New York Select Tax-Free Income Portfolio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By (Signature and Title)*
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
/s/ Jessica R. Droeger--Vice President and Secretary&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02/28/05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By (Signature and Title)*
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Gifford R. Zimmerman--Chief Administrative Officer (principal executive officer)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02/28/05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By (Signature and Title)*
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Stephen D. Foy--Vice President and Controller (principal financial officer)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02/28/05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*&#160;Print the name and
title of each signing officer under his or her signature. </FONT></P>

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<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>certification.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
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<HEAD>
<TITLE>
Certifications
</TITLE>
</HEAD>

<BODY>

<CENTER><H3><U>CERTIFICATIONS</U>
</H3></CENTER>

<P>         I, Gifford R. Zimmerman, certify that:</P>

<OL><LI>I have reviewed this report on Form N-Q of Nuveen New York Select Tax-Free Income Portfolio;</LI>
<LI>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 this report;
</LI>
<LI>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;</LI>

<LI>The registrant's other certifying officer 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)
      for the registrant and have:


      <OL type=a><LI>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;</LI>

      <LI>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</LI>

      <LI>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</LI></OL></LI>

<LI>The registrant's other certifying officer 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):

      <OL type=a><LI>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</LI>

      <LI>Any fraud, whether or not material, that involves management or other employees who have a
            significant role in the registrant's internal control over financial reporting.</LI></OL></LI>
</OL>

<P>Date: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02/28/05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</P>

<CENTER><H4><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Gifford R. Zimmerman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
   Chief Administrative Officer<BR>
   (principal executive officer)<BR><BR></H4></CENTER>
<HR noshade size=1>
<PAGE>

<CENTER><H3><BR><U>CERTIFICATIONS</U>
</H3></CENTER>

<P>         I, Stephen D. Foy, certify that:</P>

<OL>
<LI>I have reviewed this report on Form N-Q of Nuveen New York Select Tax-Free Income Portfolio;</LI>
<LI>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 this report;
</LI>
<LI>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;</LI>

<LI>The registrant's other certifying officer 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)
      for the registrant and have:
      <OL type='a'><LI>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;</LI>

      <LI>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</LI>

      <LI>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</LI></OL></LI>

<LI>The registrant's other certifying officer 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):

      <OL type='a'><LI>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</LI>

      <LI>Any fraud, whether or not material, that involves management or other employees who have a
            significant role in the registrant's internal control over financial reporting.</LI></OL></LI>
</OL>

<P>Date: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02/28/05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</P>

<CENTER><H4><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Stephen D. Foy&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
   Vice President and Controller<BR>
   (principal financial officer)<BR><BR></H4></CENTER>
<HR noshade size=1>



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