Unassociated Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-6624
 
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:            3/31          
 
Date of reporting period:         6/30/12         
 
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) 
     
   
June 30, 2012 
     
           
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 
BBB– 
$    102,335 
   
IAC/InterActiveCorp, Series 2005, 5.000%, 9/01/35 
     
   
Consumer Staples – 1.5% 
     
   
TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006: 
     
350 
 
4.750%, 6/01/22 
6/16 at 100.00 
BBB+ 
348,345 
540 
 
5.000%, 6/01/26 
6/16 at 100.00 
BBB– 
515,468 
890 
 
Total Consumer Staples 
   
863,813 
   
Education and Civic Organizations – 14.3% 
     
100 
 
Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series 
7/17 at 100.00 
BBB 
102,760 
   
2007A, 5.000%, 7/01/31 
     
165 
 
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter 
4/17 at 100.00 
BBB– 
154,536 
   
Schools, Series 2007A, 5.000%, 4/01/37 
     
280 
 
Buffalo and Erie County Industrial Land Development Corporation, New York, Tax-Exempt Revenue 
12/20 at 100.00 
BBB 
326,575 
   
Bonds, Enterprise Charter School Project, Series 2011A, 7.500%, 12/01/40 
     
30 
 
Cattaraugus County Industrial Development Agency, New York, Revenue Bonds, St. Bonaventure 
5/16 at 100.00 
BBB– 
31,056 
   
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 
N/R 
434,356 
   
2007A, 5.000%, 7/01/41 – RAAI Insured 
     
1,000 
 
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of 
No Opt. Call 
BBB 
1,124,350 
   
Technology, Series 2007, 5.250%, 7/01/34 – FGIC Insured 
     
785 
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Iona College, Series 
9/12 at 100.00 
BBB 
786,327 
   
2002, 5.000%, 7/01/22 (Pre-refunded 9/06/12) – SYNCORA GTY Insured 
     
50 
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
7/15 at 100.00 
Aa2 
54,569 
   
Facilities, Series 2004A, 5.000%, 7/01/29 – NPFG Insured 
     
120 
 
Dormitory Authority of the State of New York, Revenue Bonds, St. Joseph’s College, Series 
7/20 at 100.00 
Baa1 
131,436 
   
2010, 5.250%, 7/01/35 
     
815 
 
Dutchess County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bard 
8/17 at 100.00 
Baa1 
846,646 
   
College Refunding, Series 2007-A1, 5.000%, 8/01/46 
     
100 
 
Hempstead Town Industrial Development Agency, New York, Revenue Bonds, Adelphi University, 
10/15 at 100.00 
A 
103,901 
   
Civic Facility Project, Series 2005, 5.000%, 10/01/35 
     
2,000 
 
Monroe County Industrial Development Corporation, New York, Revenue Bonds, University of 
7/21 at 100.00 
Aa3 
2,193,576 
   
Rochester Project, Series 2011B, 5.000%, 7/01/41 
     
100 
 
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, 
10/14 at 100.00 
A– 
102,969 
   
St. Francis College, Series 2004, 5.000%, 10/01/34 
     
500 
 
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, YMCA of 
8/12 at 100.00 
A– 
502,250 
   
Greater New York, Series 2002, 5.250%, 8/01/21 
     
430 
 
New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball 
1/17 at 100.00 
BB+ 
402,815 
   
Stadium Project, Series 2006, 4.750%, 1/01/42 – AMBAC Insured 
     
   
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium 
     
   
Project, Series 2006: 
     
590 
 
4.500%, 3/01/39 – FGIC Insured 
9/16 at 100.00 
BBB 
585,888 
300 
 
4.750%, 3/01/46 – NPFG Insured 
9/16 at 100.00 
BBB 
300,375 
65 
 
Seneca County Industrial Development Authority, New York, Revenue Bonds, New York 
10/17 at 100.00 
BBB 
67,861 
   
Chiropractic College, Series 2007, 5.000%, 10/01/27 
     
7,860 
 
Total Education and Civic Organizations 
   
8,252,246 
   
Financials – 0.9% 
     
435 
 
Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series 
No Opt. Call 
A1 
507,858 
   
2007, 5.500%, 10/01/37 
     
   
Health Care – 15.5% 
     
1,000 
 
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante 
3/16 at 100.00 
A+ 
1,039,500 
   
System, Series 2006, 5.000%, 3/01/41 
     
450 
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore 
2/15 at 100.00 
BBB 
489,015 
   
Hospital, Series 2004, 5.000%, 8/01/29 – FGIC Insured 
     
500 
 
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, St. Lukes Roosevelt 
8/15 at 100.00 
N/R 
525,440 
   
Hospital, Series 2005, 4.900%, 8/15/31 
     
100 
 
Dormitory Authority of the State of New York, Highland Hospital of Rochester Revenue Bonds, 
7/20 at 100.00 
A2 
108,959 
   
Series 2010, 5.200%, 7/01/32 
     
125 
 
Dormitory Authority of the State of New York, Orange Regional Medical Center Obligated Group 
12/18 at 100.00 
Ba1 
134,981 
   
Revenue Bonds, Series 2008, 6.250%, 12/01/37 
     
950 
 
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan Kettering Cancer 
7/16 at 100.00 
Aa2 
1,008,701 
   
Center, Series 2006-1, 5.000%, 7/01/35 
     
385 
 
Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian 
8/14 at 100.00 
AA– 
423,473 
   
Hospital, Series 2004A, 5.250%, 8/15/15 – AGM Insured 
     
750 
 
Dormitory Authority of the State of New York, Revenue Bonds, NYU Hospitals Center, Series 
7/20 at 100.00 
A– 
867,735 
   
2011A, 6.000%, 7/01/40 
     
1,680 
 
Dormitory Authority of the State of New York, Revenue Bonds, Winthrop South Nassau University 
7/12 at 100.00 
Baa1 
1,683,746 
   
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 
7/12 at 100.00 
Baa1 
1,197,665 
   
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 
506,505 
   
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 
2/17 at 100.00 
BBB– 
100,944 
90 
 
5.500%, 2/01/32 
2/17 at 100.00 
BBB– 
91,544 
750 
 
New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series 
2/13 at 100.00 
Aa3 
768,428 
   
2003A, 5.250%, 2/15/21 – AMBAC Insured 
     
8,575 
 
Total Health Care 
   
8,946,636 
   
Housing/Multifamily – 5.7% 
     
1,700 
 
Amherst Industrial Development Agency, New York, Revenue Bonds, UBF Faculty/Student Housing 
8/12 at 101.00 
N/R 
1,718,496 
   
Corporation, University of Buffalo Creekside Project, Series 2002A, 5.000%, 8/01/22 
     
   
(Pre-refunded 8/15/12) – AMBAC Insured 
     
1,000 
 
New Hartford-Sunset Woods Funding Corporation, New York, FHA-Insured Mortgage Revenue 
8/12 at 101.00 
AA+ 
1,012,250 
   
Bonds, 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 
257,310 
   
Series 2004A, 5.250%, 11/01/30 
     
275 
 
New York State Housing Finance Agency, Affordable Housing Revenue, Series 2007A, 5.250%, 
11/17 at 100.00 
Aa2 
285,640 
   
11/01/38 (Alternative Minimum Tax) 
     
3,225 
 
Total Housing/Multifamily 
   
3,273,696 
   
Housing/Single Family – 4.3% 
     
2,480 
 
New York State Mortgage Agency, Mortgage Revenue Bonds, Thirty-First Series A, 5.300%, 
10/12 at 100.00 
Aaa 
2,482,282 
   
10/01/31 (Alternative Minimum Tax) 
     
   
Long-Term Care – 7.8% 
     
100 
 
Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens 
11/16 at 100.00 
Ba3 
91,525 
   
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 
N/R 
42,807 
   
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 
2,028,220 
   
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 
N/R 
1,041,350 
   
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+ 
1,005,294 
   
Bonds, Eger Harbor House Inc., Series 2002A, 4.950%, 11/20/32 
     
25 
 
Suffolk County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special 
7/16 at 100.00 
N/R 
24,284 
   
Needs Facilities Pooled Program, Series 2008-B1, 5.500%, 7/01/18 
     
275 
 
Yonkers Industrial Development Agency, New York, Civic Facilities Revenue Bonds, Special Needs 
7/16 at 101.00 
N/R 
267,127 
   
Facilities Pooled Program Bonds, Series 2008-C1, 5.500%, 7/01/18 
     
4,430 
 
Total Long-Term Care 
   
4,500,607 
   
Materials – 0.1% 
     
90 
 
Jefferson County Industrial Development Agency, New York, Solid Waste Disposal Revenue Bonds, 
12/13 at 100.00 
BBB 
93,913 
   
International Paper Company Project, Series 2003A, 5.200%, 12/01/20 (Alternative Minimum Tax) 
     
   
Tax Obligation/General – 6.1% 
     
1,260 
 
New York City, New York, General Obligation Bonds, Fiscal 2008 Series D, 5.125%, 12/01/25 
12/17 at 100.00 
AA 
1,470,168 
10 
 
New York City, New York, General Obligation Bonds, Fiscal Series 2004C, 5.250%, 8/15/16 
8/14 at 100.00 
AA 
11,001 
200 
 
New York City, New York, General Obligation Bonds, Fiscal Series 2005J, 5.000%, 3/01/19 – 
3/15 at 100.00 
AA 
221,820 
   
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 
1,134,250 
600 
 
Yonkers, New York, General Obligation Bonds, Series 2011A, 5.000%, 10/01/24 – AGM Insured 
10/21 at 100.00 
AA– 
662,952 
3,070 
 
Total Tax Obligation/General 
   
3,500,191 
   
Tax Obligation/Limited – 26.2% 
     
600 
 
Battery Park City Authority, New York, Lease Revenue Bonds, Senior Lien Series 2003A, 
11/13 at 100.00 
AAA 
634,134 
   
5.000%, 11/01/23 
     
2,000 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
2/21 at 100.00 
A 
2,301,180 
   
2011A, 5.750%, 2/15/47 
     
1,500 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 
2/17 at 100.00 
A 
1,568,205 
   
5.000%, 2/15/47 
     
   
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 – NPFG Insured 
10/14 at 100.00 
AAA 
271,700 
200 
 
5.000%, 10/15/26 – NPFG Insured 
10/14 at 100.00 
AAA 
217,074 
1,225 
 
5.000%, 10/15/29 – AMBAC Insured 
10/14 at 100.00 
AAA 
1,338,668 
600 
 
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 
1/17 at 100.00 
AA– 
655,284 
   
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured 
     
195 
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal 
2/13 at 100.00 
AAA 
199,963 
   
Series 2003E, 5.000%, 2/01/23 – FGIC Insured 
     
550 
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal 
11/17 at 100.00 
AAA 
631,763 
   
Series 2007C-1, 5.000%, 11/01/27 
     
535 
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Tender 
5/19 at 100.00 
AAA 
699,111 
   
Option Bond Trust 3545, 13.702%, 5/01/32 (IF) 
     
775 
 
New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds, 
12/17 at 100.00 
AAA 
900,418 
   
Series 2008A, 5.000%, 12/15/26 (UB) 
     
250 
 
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 
4/14 at 100.00 
AA 
268,675 
   
2004A, 5.000%, 4/01/21 – NPFG Insured 
     
425 
 
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2007, 
10/17 at 100.00 
AA 
474,232 
   
5.000%, 4/01/27 
     
570 
 
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2005B, 5.500%, 
No Opt. Call 
AA 
722,384 
   
4/01/20 – AMBAC Insured (UB) 
     
   
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 
AA– 
1,044,140 
250 
 
5.250%, 6/01/21 – AMBAC Insured 
6/13 at 100.00 
AA– 
261,035 
500 
 
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and 
6/13 at 100.00 
AA– 
523,220 
   
State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21 
     
1,000 
 
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, 
3/21 at 100.00 
AAA 
1,151,860 
   
Series 2011A, 5.000%, 3/15/29 
     
1,000 
 
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Tender 
3/17 at 100.00 
AAA 
1,241,830 
   
Option Bond Trust 09-6W, 13.668%, 3/15/37 (IF) (4) 
     
13,425 
 
Total Tax Obligation/Limited 
   
15,104,876 
   
Transportation – 5.1% 
     
500 
 
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2003A, 
No Opt. Call 
A 
566,545 
   
5.000%, 11/15/15 – FGIC Insured 
     
250 
 
New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project, 
11/21 at 100.00 
A+ 
270,090 
   
Series 2011, 5.000%, 11/15/44 
     
100 
 
New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/30 – 
7/15 at 100.00 
AA– 
110,279 
   
AGM Insured 
     
1,050 
 
New York State Thruway Authority, General Revenue Bonds, Series2012I, 5.000%, 1/01/42 
1/22 at 100.00 
A+ 
1,141,434 
   
(WI/DD, Settling 7/11/12) 
     
105 
 
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth 
6/15 at 101.00 
Aa2 
111,870 
   
Series 2005, 5.000%, 12/01/31 – SYNCORA GTY Insured 
     
120 
 
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty 
8/17 at 100.00 
Aa2 
164,462 
   
Eighth Series 2008, Trust 2920, 17.352%, 8/15/32 – AGM Insured (IF) 
     
   
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal 
     
   
LLC Project, Eighth Series 2010: 
     
290 
 
6.500%, 12/01/28 
12/15 at 100.00 
BBB– 
312,626 
215 
 
6.000%, 12/01/36 
12/20 at 100.00 
BBB– 
241,559 
2,630 
 
Total Transportation 
   
2,918,865 
   
U.S. Guaranteed – 4.8% (5) 
     
630 
 
Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk 
No Opt. Call 
Aaa 
713,759 
   
County Issue, Series 1986, 7.375%, 7/01/16 (ETM) 
     
670 
 
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer 
7/13 at 100.00 
Aa2 (5) 
702,113 
   
Center, Series 2003-1, 5.000%, 7/01/21 (Pre-refunded 7/01/13) – NPFG Insured 
     
500 
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
5/14 at 100.00 
AA- (5) 
549,590 
   
City School District, Series 2004, 5.750%, 5/01/26 (Pre-refunded 5/01/14) – AGM Insured 
     
475 
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series 
2/13 at 100.00 
Aaa 
488,514 
   
2003E, 5.000%, 2/01/23 (Pre-refunded 2/01/13) – FGIC Insured 
     
290 
 
New York City, New York, General Obligation Bonds, Fiscal Series 2004C, 5.250%, 8/15/16 
8/14 at 100.00 
Aa2 (5) 
320,227 
   
(Pre-refunded 8/15/14) 
     
2,565 
 
Total U.S. Guaranteed 
   
2,774,203 
   
Utilities – 3.1% 
     
   
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 
A 
638,058 
430 
 
5.000%, 12/01/25 – FGIC Insured 
6/16 at 100.00 
A 
478,526 
400 
 
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 
5/21 at 100.00 
A 
434,948 
   
5.000%, 5/01/38 
     
250 
 
Niagara County Industrial Development Agency, New York, Solid Waste Disposal Facility Revenue 
11/12 at 100.00 
Baa2 
253,195 
   
Bonds, American Ref-Fuel Company of Niagara LP, Series 2001A, 5.450%, 11/15/26 (Mandatory 
     
   
put 11/15/12) (Alternative Minimum Tax) 
     
1,650 
 
Total Utilities 
   
1,804,727 
   
Water and Sewer – 4.2% 
     
275 
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System 
6/18 at 100.00 
AA+ 
376,365 
   
Revenue Bonds, Tender Option Bond Trust 3484, 17.705%, 6/15/32 (IF) 
     
1,840 
 
New York State Environmental Facilities Corporation, State Clean Water and Drinking Water 
No Opt. Call 
AAA 
2,055,961 
   
Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority Projects, 
     
   
Series 2006A, 4.750%, 6/15/29 
     
2,115 
 
Total Water and Sewer 
   
2,432,326 
$ 53,540 
 
Total Investments (cost $54,096,127) – 99.8% 
   
57,558,574 
   
Floating Rate Obligations – (1.7)% 
   
(1,005,000) 
   
Other Assets Less Liabilities – 1.9% 
   
1,097,284 
   
Net Assets – 100% 
   
$ 57,650,858 
 

 
 

 
 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
 
                         
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Long-Term Investments*: 
                       
Municipal Bonds 
  $     $ 57,558,574     $     $ 57,558,574  
* Refer to the Fund's Portfolio of Investments for industry classifications.
 
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 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 securities reflected as financing transactions, if any. 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 June 30, 2012, the cost of investments was $53,085,131.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at June 30, 2012, were as follows:
       
Gross unrealized: 
     
Appreciation 
  $ 3,569,078  
Depreciation 
    (97,080 ) 
Net unrealized appreciation (depreciation) of investments 
  $ 3,471,998  
 
     
(1) 
 
All percentages shown in the Portfolio of Investments are based on net assets. 
(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 highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, 
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or 
   
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any 
   
of these national rating agencies. 
(4) 
 
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for 
   
investments in inverse floating rate transactions. 
(5) 
 
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. Certain bonds backed by U.S. Government or 
   
agency securities are regarded as having an implied rating equal to the rating of such securities. 
N/R 
 
Not rated. 
WI/DD 
 
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis. 
(ETM) 
 
Escrowed to maturity. 
(IF) 
 
Inverse floating rate investment. 
(UB) 
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction. 
 

 
 

 
 
Item 2. Controls and Procedures.

a.  
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)).
 
 
b.  
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.
 
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: See EX-99 CERT attached hereto.

 
 
 

 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen New York Select Tax-Free Income Portfolio 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         August 29, 2012        
 
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:         August 29, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         August 29, 2012