Investment Company Act file number 811-6624
Nuveen New York Select Tax-Free Income Portfolio
(Exact name of
registrant as specified in charter)
Nuveen
Investments
333 West
Wacker Drive, Chicago, Illinois 60606
(Address of
principal executive offices) (Zip code)
Kevin
J. McCarthy Vice President and
Secretary
333 West Wacker
Drive, Chicago, Illinois 60606
(Name and address of
agent for service)
Registrant's telephone number, including area code: 312-917-7700
Date of fiscal year end: 03/31
Date of reporting period: 12/31/07
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
Portfolio of Investments (Unaudited) | ||||||||
Nuveen New York Select Tax-Free Income Portfolio (NXN) | ||||||||
December 31, 2007 | ||||||||
Principal | Optional Call | |||||||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
|
||||||||
Consumer Discretionary – 0.2% | ||||||||
$ 100 | New York City Industrial Development Agency, New York, Liberty Revenue Bonds, | 9/15 at 100.00 | Baa3 | $ | 90,550 | |||
IAC/InterActiveCorp, Series 2005, 5.000%, 9/01/35 | ||||||||
|
||||||||
Consumer Staples – 1.8% | ||||||||
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006: | ||||||||
460 | 4.750%, 6/01/22 | 6/16 at 100.00 | BBB | 448,495 | ||||
540 | 5.000%, 6/01/26 | 6/16 at 100.00 | BBB | 522,369 | ||||
|
||||||||
1,000 | Total Consumer Staples | 970,864 | ||||||
|
||||||||
Education and Civic Organizations – 10.2% | ||||||||
100 | Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series | 7/17 at 100.00 | BBB | 93,387 | ||||
2007A, 5.000%, 7/01/31 | ||||||||
50 | Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter | 4/17 at 100.00 | N/R | 43,855 | ||||
Schools, Series 2007A, 5.000%, 4/01/37 | ||||||||
1,700 | Amherst Industrial Development Agency, New York, Revenue Bonds, UBF Faculty/Student Housing | 8/12 at 101.00 | AAA | 1,775,174 | ||||
Corporation, University of Buffalo Creekside Project, Series 2002A, 5.000%, 8/01/22 – | ||||||||
AMBAC Insured | ||||||||
30 | Cattaraugus County Industrial Development Agency, New York, Revenue Bonds, St. Bonaventure | 5/16 at 100.00 | BBB– | 29,107 | ||||
University, Series 2006, 5.000%, 5/01/23 | ||||||||
430 | Dormitory Authority of the State of New York, General Revenue Bonds, Manhattan College, Series | 7/17 at 100.00 | AA | 410,525 | ||||
2007A, 5.000%, 7/01/41 – RAAI Insured | ||||||||
785 | Dormitory Authority of the State of New York, Insured Revenue Bonds, Iona College, Series | 7/12 at 100.00 | AAA | 809,696 | ||||
2002, 5.000%, 7/01/22 – XLCA Insured | ||||||||
315 | Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue | No Opt. Call | AAA | 333,021 | ||||
Bonds, City University System, Series 1990C, 7.500%, 7/01/10 – FGIC Insured | ||||||||
430 | Dutchess County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bard | 8/17 at 100.00 | A3 | 396,236 | ||||
College Project, Series 2007-A2, 4.500%, 8/01/36 | ||||||||
100 | Hempstead Town Industrial Development Agency, New York, Revenue Bonds, Adelphi University, | 10/15 at 100.00 | A– | 98,516 | ||||
Civic Facility Project, Series 2005, 5.000%, 10/01/35 | ||||||||
100 | New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, St. | 10/14 at 100.00 | A– | 97,969 | ||||
Francis College, Series 2004, 5.000%, 10/01/34 | ||||||||
500 | New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, YMCA of | 2/11 at 100.00 | A– | 511,605 | ||||
Greater New York, Series 2002, 5.250%, 8/01/21 | ||||||||
185 | New York City Industrial Development Agency, New York, PILOT Revenue Bonds Yankee Stadium | 9/16 at 100.00 | AAA | 196,723 | ||||
Project, Residual Series 07-1032, 6.970%, 3/01/39 – FGIC Insured (IF) | ||||||||
430 | New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball | 1/17 at 100.00 | AAA | 428,203 | ||||
Stadium Project, Series 2006, 4.750%, 1/01/42 – AMBAC Insured | ||||||||
150 | New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Pilots, | 9/16 at 100.00 | AAA | 161,910 | ||||
Trust 2148, 7.652%, 3/01/36 – MBIA Insured (IF) | ||||||||
200 | Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities | 2/09 at 101.00 | BBB– | 201,740 | ||||
Financing Authority, Higher Education Revenue Bonds, Ana G. Mendez University System, Series | ||||||||
1999, 5.375%, 2/01/19 | ||||||||
65 | Seneca County Industrial Development Authority, New York, Revenue Bonds, New York Chiropractic | 10/17 at 100.00 | BBB | 62,226 | ||||
College, Series 2007, 5.000%, 10/01/27 | ||||||||
|
||||||||
5,570 | Total Education and Civic Organizations | 5,649,893 | ||||||
|
||||||||
Financials – 0.9% | ||||||||
435 | Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series | No Opt. Call | AA– | 481,088 | ||||
2007, 5.500%, 10/01/37 | ||||||||
|
||||||||
Health Care – 14.0% | ||||||||
450 | Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore | 2/15 at 100.00 | AAA | 463,365 | ||||
Hospital, Series 2004, 5.000%, 8/01/29 – FGIC Insured | ||||||||
Dormitory Authority of the State of New York, Revenue Bonds, Lenox Hill Hospital Obligated | ||||||||
Group, Series 2001: | ||||||||
110 | 5.375%, 7/01/20 | 7/11 at 101.00 | Ba2 | 110,480 | ||||
100 | 5.500%, 7/01/30 | 7/11 at 101.00 | Ba2 | 97,941 | ||||
950 | Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan Kettering Cancer | 7/16 at 100.00 | AA | 979,517 | ||||
Center, Series 2006-1, 5.000%, 7/01/35 | ||||||||
670 | Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer | 7/13 at 100.00 | AAA | 710,079 | ||||
Center, Series 2003-1, 5.000%, 7/01/21 – MBIA Insured | ||||||||
405 | Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian | 8/14 at 100.00 | AAA | 442,625 | ||||
Hospital, Series 2004A, 5.250%, 8/15/15 – FSA Insured | ||||||||
1,680 | Dormitory Authority of the State of New York, Revenue Bonds, Winthrop South Nassau University | 7/11 at 101.00 | AAA | 1,793,232 | ||||
Health System Obligated Group, Series 2001A, 5.250%, 7/01/17 – AMBAC Insured | ||||||||
1,195 | Dormitory Authority of the State of New York, Revenue Bonds, Winthrop South Nassau University | 7/11 at 101.00 | AAA | 1,275,543 | ||||
Health System Obligated Group, Series 2001B, 5.250%, 7/01/17 – AMBAC Insured | ||||||||
500 | Dormitory Authority of the State of New York, Revenue Bonds, Winthrop-South Nassau University | 7/13 at 100.00 | Baa1 | 501,290 | ||||
Hospital Association, Series 2003A, 5.500%, 7/01/32 | ||||||||
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Oneida | ||||||||
Health System, Series 2007A: | ||||||||
100 | 5.250%, 2/01/27 | No Opt. Call | BBB– | 95,867 | ||||
90 | 5.500%, 2/01/32 | No Opt. Call | BBB– | 87,025 | ||||
750 | New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series | 2/13 at 100.00 | AAA | 796,928 | ||||
2003A, 5.250%, 2/15/21 – AMBAC Insured | ||||||||
250 | New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Staten | 7/12 at 101.00 | B2 | 251,578 | ||||
Island University Hospital, Series 2002C, 6.450%, 7/01/32 | ||||||||
160 | New York State Dormitory Authority, Revenue Bonds, North Shore Jewish Obligated Group, Series | 5/17 at 100.00 | A3 | 156,898 | ||||
2007A, 5.000%, 5/01/32 | ||||||||
|
||||||||
7,410 | Total Health Care | 7,762,368 | ||||||
|
||||||||
Housing/Multifamily – 3.1% | ||||||||
1,000 | New Hartford-Sunset Woods Funding Corporation, New York, FHA-Insured Mortgage Revenue Bonds, | 8/12 at 101.00 | AAA | 1,051,020 | ||||
Sunset Woods Apartments II Project, Series 2002, 5.350%, 2/01/20 | ||||||||
250 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, | 5/14 at 100.00 | AA | 257,785 | ||||
Series 2004A, 5.250%, 11/01/30 | ||||||||
160 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, | 11/15 at 100.00 | AA | 158,890 | ||||
Series 2005F-1, 4.750%, 11/01/35 | ||||||||
275 | New York State Housing Finance Agency, Affordable Housing Revenue, Series 2007A, 5.250%, | 11/17 at 100.00 | Aa2 | 268,615 | ||||
11/01/38 (Alternative Minimum Tax) | ||||||||
|
||||||||
1,685 | Total Housing/Multifamily | 1,736,310 | ||||||
|
||||||||
Housing/Single Family – 8.2% | ||||||||
2,000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 101, 5.000%, | 10/11 at 100.00 | Aa1 | 2,028,160 | ||||
10/01/18 (Alternative Minimum Tax) | ||||||||
2,500 | New York State Mortgage Agency, Mortgage Revenue Bonds, Thirty-First Series A, 5.300%, | 4/11 at 100.00 | Aaa | 2,506,074 | ||||
10/01/31 (Alternative Minimum Tax) | ||||||||
|
||||||||
4,500 | Total Housing/Single Family | 4,534,234 | ||||||
|
||||||||
Long-Term Care – 11.5% | ||||||||
2,000 | Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds, | 8/11 at 101.00 | AAA | 2,070,419 | ||||
Norwegian Christian Home and Health Center, Series 2001, 5.200%, 8/01/36 – MBIA Insured | ||||||||
100 | Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens | 11/16 at 100.00 | Aa3 | 101,398 | ||||
Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31 | ||||||||
50 | Dormitory Authority of the State of New York, Revenue Bonds, Providence Rest, Series 2005, | 7/15 at 100.00 | CCC | 41,927 | ||||
5.000%, 7/01/35 – ACA Insured | ||||||||
2,000 | East Rochester Housing Authority, New York, FHA-Insured Mortgage Revenue Refunding Bonds, | 8/12 at 101.00 | AAA | 2,082,959 | ||||
Jewish Home of Rochester, Series 2002, 4.625%, 2/15/17 | ||||||||
1,000 | East Rochester Housing Authority, New York, Revenue Bonds, GNMA/FHA-Secured Revenue Bonds, | 12/12 at 103.00 | AAA | 1,057,700 | ||||
St. Mary’s Residence Project, Series 2002A, 5.375%, 12/20/22 | ||||||||
980 | New York City Industrial Development Agency, New York, GNMA Collateralized Mortgage Revenue | 11/12 at 101.00 | AA+ | 979,951 | ||||
Bonds, Eger Harbor House Inc., Series 2002A, 4.950%, 11/20/32 | ||||||||
|
||||||||
6,130 | Total Long-Term Care | 6,334,354 | ||||||
|
||||||||
Materials – 0.1% | ||||||||
90 | Jefferson County Industrial Development Agency, New York, Solid Waste Disposal Revenue Bonds, | 12/13 at 100.00 | BBB | 87,224 | ||||
International Paper Company Project, Series 2003A, 5.200%, 12/01/20 (Alternative Minimum Tax) | ||||||||
|
||||||||
Tax Obligation/General – 8.3% | ||||||||
Clarkstown, Rickland County, New York, Various Purposes Serial Bonds, Series 1992: | ||||||||
505 | 5.600%, 6/15/10 – AMBAC Insured | No Opt. Call | AAA | 534,598 | ||||
525 | 5.600%, 6/15/11 – AMBAC Insured | No Opt. Call | AAA | 566,580 | ||||
525 | 5.600%, 6/15/12 – AMBAC Insured | No Opt. Call | AAA | 579,154 | ||||
15 | Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, | 2/17 at 100.00 | AAA | 14,295 | ||||
4.500%, 2/15/47 – MBIA Insured (UB) | ||||||||
300 | New York City, New York, General Obligation Bonds, Fiscal Series 2004C, 5.250%, 8/15/16 | 8/14 at 100.00 | AA | 327,888 | ||||
200 | New York City, New York, General Obligation Bonds, Fiscal Series 2005J, 5.000%, 3/01/19 – | 3/15 at 100.00 | AAA | 214,030 | ||||
FGIC Insured | ||||||||
1,000 | New York City, New York, General Obligation Bonds, Fiscal Series 2006J-1, 5.000%, 6/01/25 | 6/16 at 100.00 | AA | 1,032,200 | ||||
1,260 | New York City, New York, General Obligation Bonds, Series D, 5.125%, 12/01/25 | 12/17 at 100.00 | AA | 1,318,792 | ||||
|
||||||||
4,330 | Total Tax Obligation/General | 4,587,537 | ||||||
|
||||||||
Tax Obligation/Limited – 16.4% | ||||||||
600 | Battery Park City Authority, New York, Senior Revenue Bonds, Series 2003A, 5.000%, 11/01/23 | 11/13 at 100.00 | AAA | 630,144 | ||||
300 | Dormitory Authority of the State of New York, Revenue Bonds, Mental Health Services Facilities | No Opt. Call | AAA | 325,383 | ||||
Improvements, Series 2005D1, 5.000%, 2/15/15 – FGIC Insured | ||||||||
500 | Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo | 5/14 at 100.00 | AAA | 554,690 | ||||
City School District, Series 2004, 5.750%, 5/01/26 – FSA Insured | ||||||||
500 | Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, | 7/12 at 100.00 | AAA | 539,250 | ||||
Series 2002A, 5.500%, 1/01/20 – MBIA Insured | ||||||||
95 | Nassau County Interim Finance Authority, New York, Sales Tax Secured Revenue Bonds, Series | 5/08 at 100.00 | AAA | 95,130 | ||||
2001A-2, 5.125%, 11/15/21 – AMBAC Insured | ||||||||
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local | ||||||||
Government Assistance Corporation, Series 2004A: | ||||||||
250 | 5.000%, 10/15/25 – MBIA Insured | 10/14 at 100.00 | AAA | 262,520 | ||||
200 | 5.000%, 10/15/26 – MBIA Insured | 10/14 at 100.00 | AAA | 209,534 | ||||
1,225 | 5.000%, 10/15/29 – AMBAC Insured | 10/14 at 100.00 | AAA | 1,276,781 | ||||
600 | New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal | 1/17 at 100.00 | AAA | 626,826 | ||||
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured | ||||||||
670 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal | 2/13 at 100.00 | AAA | 702,502 | ||||
Series 2003E, 5.000%, 2/01/23 | ||||||||
550 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal | 11/17 at 100.00 | AAA | 581,708 | ||||
Series 2007C-1, 5.000%, 11/01/27 | ||||||||
570 | New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second Generation | No Opt. Call | AAA | 654,810 | ||||
Series 2005B, 5.500%, 4/01/20 – AMBAC Insured (UB) | ||||||||
250 | New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second Generation, Series | 4/14 at 100.00 | AAA | 264,953 | ||||
2004, 5.000%, 4/01/21 – MBIA Insured | ||||||||
425 | New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2007, | 10/17 at 100.00 | AA | 446,905 | ||||
5.000%, 4/01/27 | ||||||||
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and | ||||||||
State Contingency Contract-Backed Bonds, Series 2003A-1: | ||||||||
1,000 | 5.250%, 6/01/20 – AMBAC Insured | 6/13 at 100.00 | AAA | 1,065,060 | ||||
250 | 5.250%, 6/01/21 – AMBAC Insured | 6/13 at 100.00 | AAA | 265,888 | ||||
500 | New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and | 6/13 at 100.00 | AA– | 535,055 | ||||
State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21 | ||||||||
30 | Triborough Bridge and Tunnel Authority, New York, Convention Center Bonds, Series 1990E, | No Opt. Call | AA– | 31,113 | ||||
7.250%, 1/01/10 | ||||||||
|
||||||||
8,515 | Total Tax Obligation/Limited | 9,068,252 | ||||||
|
||||||||
Transportation – 2.1% | ||||||||
180 | Albany Parking Authority, New York, Revenue Bonds, Series 2001A, 5.625%, 7/15/25 | 7/11 at 101.00 | BBB+ | 186,395 | ||||
500 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2003A, | No Opt. Call | AAA | 546,805 | ||||
5.000%, 11/15/15 – FGIC Insured | ||||||||
50 | New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/30 – | 1/15 at 100.00 | AAA | 51,837 | ||||
AMBAC Insured | ||||||||
100 | New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/30 – | 7/15 at 100.00 | AAA | 104,349 | ||||
FSA Insured | ||||||||
105 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth | 6/15 at 101.00 | AAA | 109,195 | ||||
Series 2005, 5.000%, 12/01/31 – XLCA Insured | ||||||||
160 | Port Authority of New York and New Jersey, One Hundred and Forty Eighth Consolidated Revenue | 8/17 at 100.00 | AAA | 183,640 | ||||
Bonds, RITES Trust 1516, 7.411%, 8/15/32 – FSA Insured (IF) | ||||||||
|
||||||||
1,095 | Total Transportation | 1,182,221 | ||||||
|
||||||||
U.S. Guaranteed – 6.2% (4) | ||||||||
220 | Albany Parking Authority, New York, Revenue Bonds, Series 2001A, 5.625%, 7/15/25 | 7/11 at 101.00 | N/R (4) | 240,647 | ||||
(Pre-refunded 7/15/11) | ||||||||
1,165 | Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk | No Opt. Call | AAA | 1,379,698 | ||||
County Issue, Series 1986, 7.375%, 7/01/16 (ETM) | ||||||||
250 | Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish | 5/13 at 100.00 | Aaa | 275,655 | ||||
Group, Series 2003, 5.375%, 5/01/23 (Pre-refunded 5/01/13) | ||||||||
415 | Suffolk County Water Authority, New York, Water Revenue Bonds, Series 1986V, 6.750%, | No Opt. Call | AAA | 449,275 | ||||
6/01/12 (ETM) | ||||||||
1,005 | TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2002-1, 5.500%, 7/15/24 | 7/12 at 100.00 | AAA | 1,082,455 | ||||
(Pre-refunded 7/15/12) | ||||||||
|
||||||||
3,055 | Total U.S. Guaranteed | 3,427,730 | ||||||
|
||||||||
Utilities – 3.9% | ||||||||
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A: | ||||||||
570 | 5.000%, 12/01/23 – FGIC Insured | 6/16 at 100.00 | AAA | 603,482 | ||||
430 | 5.000%, 12/01/25 – FGIC Insured | 6/16 at 100.00 | AAA | 452,450 | ||||
250 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, | 6/16 at 100.00 | AAA | 258,935 | ||||
5.000%, 12/01/35 – CIFG Insured | ||||||||
500 | New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, | 3/08 at 101.50 | AAA | 507,970 | ||||
New York State Electric and Gas Corporation, Series 2005A, 4.100%, 3/15/15 – MBIA Insured | ||||||||
250 | Niagara County Industrial Development Agency, New York, Solid Waste Disposal Facility Revenue | 11/11 at 101.00 | Baa2 | 251,735 | ||||
Bonds, American Ref-Fuel Company of Niagara LP, Series 2001A, 5.450%, 11/15/26 (Mandatory | ||||||||
put 11/15/12) (Alternative Minimum Tax) | ||||||||
60 | Westchester County Industrial Development Agency, Westchester County, New York, Resource | 7/08 at 100.00 | BBB | 60,419 | ||||
Recovery Revenue Bonds, RESCO Company, Series 1996, 5.500%, 7/01/09 (Alternative Minimum Tax) | ||||||||
|
||||||||
2,060 | Total Utilities | 2,134,991 | ||||||
|
||||||||
Water and Sewer – 12.3% | ||||||||
2,500 | New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue | 6/11 at 101.00 | AA+ | 2,598,172 | ||||
Bonds, Fiscal Series 2001C, 5.125%, 6/15/33 | ||||||||
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water | ||||||||
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Loan, | ||||||||
Series 2002B: | ||||||||
2,000 | 5.250%, 6/15/19 | 6/12 at 100.00 | AAA | 2,139,359 | ||||
2,000 | 5.000%, 6/15/27 | 6/12 at 100.00 | AAA | 2,058,220 | ||||
|
||||||||
6,500 | Total Water and Sewer | 6,795,751 | ||||||
|
||||||||
$ 52,475 | Total Investments (cost $53,205,449) – 99.2% | 54,843,367 | ||||||
|
|
|||||||
Floating Rate Obligations – (0.8)% | (437,500) | |||||||
|
||||||||
Other Assets Less Liabilities – 1.6% | 869,500 | |||||||
|
||||||||
Net Assets – 100% | $ | 55,275,367 | ||||||
|
Forward Swaps outstanding at December 31, 2007: | ||||||||||||||||
Fund | Fixed Rate | Unrealized | ||||||||||||||
Notional | Pay/Receive | Floating Rate | Fixed Rate | Payment | Effective | Termination | Appreciation | |||||||||
Counterparty | Amount | Floating Rate | Index | (Annualized) | Frequency | Date (5) | Date | (Depreciation) | ||||||||
|
||||||||||||||||
Royal Bank of Canada | $500,000 | Pay | SIFM | 4.335% | Quarterly | 8/06/08 | 8/06/37 | $35,009 | ||||||||
|
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SIFM – The daily arithmetic average of the weekly SIFM (Securities Industry and Financial Markets) Municipal Swap Index. |
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to Common | |
Shares unless otherwise noted. | ||
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. | |
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities | ||
may be subject to periodic principal paydowns. | ||
(3) | Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, | |
Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be | ||
below investment grade. | ||
The AAA ratings shown in the Portfolio of Investments reflect the AAA ratings on certain bonds insured | ||
by AMBAC, FGIC, XCLA or MBIA and/or the A ratings on certain bonds insured by ACA as of December 31, | ||
2007. During December 2007, at least one rating agency reduced the rating for ACA bonds to CCC. | ||
Subsequent to December 31, 2007, at least one rating agency reduced the rating for AMBAC-insured bonds | ||
to AA, the rating for XCLA-insured bonds to A and the rating for FGIC-insured bonds to A3. One or more | ||
rating agencies have placed each of these insurers on “negative credit watch”, which may presage one or | ||
more rating reductions for such insurer or insurers in the future. If one or more insurers’ ratings are reduced | ||
below AAA (or A in the case of ACA) by these rating agencies, it would likely reduce the effective rating of | ||
many of the bonds insured by that insurer or insurers. | ||
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities | |
which ensure the timely payment of principal and interest. Such investments are normally considered to | ||
be equivalent to AAA rated securities. | ||
(5) | Effective date represents the date on which both the Fund and counterparty commence interest payment | |
accruals on each forward swap contract. | ||
N/R | Not rated. | |
(ETM) | Escrowed to maturity. | |
(IF) | Inverse floating rate investment. | |
(UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the | |
provisions of SFAS No. 140. |
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to the treatment of paydown gains and losses, timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No.140. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
At December 31, 2007, the cost of investments was $52,761,725.
Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2007, were as follows:
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Gross unrealized: | ||
Appreciation | $1,814,102 | |
Depreciation | (169,957) | |
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Net unrealized appreciation (depreciation) of investments | $1,644,145 | |
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Item 2. Controls and Procedures.
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen New York Select Tax-Free Income Portfolio
By (Signature and Title)*
/s/ Kevin J.
McCarthy
Kevin
J.
McCarthy
Vice President and Secretary
Date February 29, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)*
/s/ Gifford R.
Zimmerman
Gifford R.
Zimmerman
Chief Administrative Officer (principal executive officer)
Date February 29, 2008
By (Signature and Title)*
/s/ Stephen D.
Foy
Stephen
D.
Foy
Vice President and Controller (principal financial officer)
Date February 29, 2008
* Print the name and title of each signing officer under his or her signature.