BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06500

Name of Fund: BlackRock MuniYield New York Quality Fund, Inc. (MYN)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield New York Quality Fund, Inc., 55 East 52nd Street, New York, NY 10055

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2013

Date of reporting period: 04/30/2013

Item 1    –    Schedule of Investments

Schedule of Investments April 30, 2013 (Unaudited)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
   (Percentages shown are based on Net Assets)
  
  

 

Municipal Bonds

    Par
(000)		      Value  

New York – 108.7%

      

Corporate – 2.8%

      

New York City Industrial Development Agency, Refunding RB, AMT:

      

Series A, 5.00%, 7/01/28

    $ 930       $ 990,459   

Terminal One Group Association Project, 5.50%, 1/01/24(a)

      1,500         1,651,830   

New York Liberty Development Corp., RB, Goldman Sachs Headquarters,

      

5.25%, 10/01/35

      3,400         4,030,768   

New York State Energy Research & Development Authority, Refunding RB, Brooklyn Union Gas/Keyspan,
Series A, AMT (NPFGC),

      

4.70%, 2/01/24

      4,750         5,131,615   

Suffolk County Industrial Development Agency New York, RB, Keyspan, Port Jefferson, AMT,

      

5.25%, 6/01/27

      4,625         4,641,465   
     

 

 

  
        16,446,137   
     

 

 

  

County/City/Special District/School District – 31.0%

      

Buffalo & Erie County Industrial Land Development Corp., Refunding RB, Buffalo State College Foundation Housing Corp. Project, Series A,

      

5.38%, 10/01/41

      1,040         1,193,192   

City of New York, New York, GO:

      

Series A-1, 5.00%, 8/01/35

      1,950         2,237,761   

Sub-Series A-1, 4.00%, 10/01/34

      990         1,048,578   

Sub-Series A-1, 5.00%, 10/01/34

      1,845         2,154,868   

Sub-Series D-1, 5.00%, 10/01/33

      8,350         9,664,958   

City of New York, New York, GO, Refunding:

      

Series E, 5.00%, 8/01/27

      1,070         1,287,039   

Series H, 5.00%, 8/01/31

      1,500         1,781,970   

Series I, 5.00%, 8/01/32

      490         574,697   

County of Onondaga New York, RB, Syracuse University Project:

      

5.00%, 12/01/30

      1,190         1,390,527   

5.00%, 12/01/36

      1,150         1,328,584   

Erie County Industrial Development Agency, RB, School District of Buffalo Project, Series A:

      

5.25%, 5/01/31

      2,305         2,673,339   

5.25%, 5/01/32

      1,000         1,153,640   

Hudson New York Yards Infrastructure Corp., RB, Series A:

      

(AGC), 5.00%, 2/15/47

      4,300         4,581,564   

(AGC) (NPFGC), 5.00%, 2/15/47

      550         586,014   

(AGM), 5.00%, 2/15/47

      4,580         4,879,898   

(NPFGC), 4.50%, 2/15/47

      17,525         18,120,675   

(NPFGC), 5.00%, 2/15/47

      3,415         3,627,311   

New York City Industrial Development Agency, RB, PILOT:

      

CAB, Yankee Stadium (AGC), 4.48%, 3/01/39(b)

      5,000         1,590,800   

CAB, Yankee Stadium (AGC), 4.67%, 3/01/43(b)

      4,330         1,090,900   

Queens Baseball Stadium (AMBAC), 5.00%, 1/01/36

      8,800         9,051,680   

Queens Baseball Stadium (AMBAC), 5.00%, 1/01/39

      1,750         1,794,660   

Yankee Stadium (AGC), 6.38%, 1/01/39

      1,000         1,168,880   

Yankee Stadium (NPFGC), 5.00%, 3/01/36

      2,250         2,341,620   

Yankee Stadium (NPFGC), 5.00%, 3/01/46

      9,650         9,975,205   

New York City Transitional Finance Authority, RB, Future Tax Secured (NPFGC):

      

Series C, 5.00%, 2/01/14(c)

      2,375         2,459,645   

Series C, 5.00%, 2/01/33

      10,020         10,332,724   

Series E, 5.25%, 2/01/22

      55         55,228   

New York City Transitional Finance Authority, Refunding RB, Future Tax Secured Revenue, Series A (NPFGC),

      

5.00%, 11/15/26

      260         260,972   

New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC):

      

5.00%, 11/15/30

      1,500         1,620,870   

5.00%, 11/15/35

      11,600         12,522,664   

5.00%, 11/15/44

      14,470         15,598,515   

New York Liberty Development Corp., Refunding RB:

      

4 World Trade Center Project, 5.00%, 11/15/31

      2,570         2,940,157   

4 World Trade Center Project, 5.75%, 11/15/51

      3,460         4,103,422   

7 World Trade Center Project, Class 2, 5.00%, 9/15/43

      3,900         4,277,325   

North Country Development Authority, Refunding RB (AGM),

      

6.00%, 5/15/15

      400         418,144   

Sales Tax Asset Receivable Corp., Refunding RB (AMBAC):

      

5.25%, 10/15/27

      9,500         10,122,440   

5.00%, 10/15/32

      27,200         28,846,960   

Syracuse Industrial Development Agency New York, RB, Carousel Center Project, Series A, AMT (Syncora),

      

5.00%, 1/01/36

      3,400         3,458,990   

 

    BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013   1

Schedule of Investments (continued)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

    Par
(000)		      Value  

New York (continued)

      

County/City/Special District/School District (concluded)

      

Tompkins County Industrial Development Agency, RB, Civic Facility Cornell University Project, Series A,

      

5.00%, 7/01/37

    $ 675       $ 781,272   

Town of North Hempstead New York, GO, Refunding, Series B (NPFGC),

      

6.40%, 4/01/17

      555         673,015   
     

 

 

  
        183,770,703   
     

 

 

  

Education – 16.6%

      

Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM),

      

4.63%, 10/01/40

      2,000         2,167,600   

City of Troy Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project, Series A,

      

5.13%, 9/01/40

      5,725         6,353,319   

Madison County Industrial Development Agency New York, RB, Colgate University Project, Series A (AMBAC):

      

5.00%, 7/01/30

      5,410         5,710,147   

5.00%, 7/01/35

      2,675         2,808,911   

Madison County New York Capital Resource Corp., Refunding RB, Colgate University Project, Series A,

      

4.50%, 7/01/39

      535         594,455   

Monroe County Industrial Development Corp., RB, University of Rochester Project, Series B,

      

4.50%, 7/01/35

      3,885         4,204,735   

New York City Industrial Development Agency, Refunding RB, Nightingale-Bamford School (AMBAC),

      

5.25%, 1/15/18

      1,275         1,279,807   

New York City Trust for Cultural Resources, Refunding RB:

      

American Museum of Natural History, Series A (NPFGC), 5.00%, 7/01/36

      4,750         4,949,832   

American Museum of Natural History, Series A (NPFGC), 5.00%, 7/01/44

      500         521,035   

Carnegie Hall, Series A, 4.75%, 12/01/39

      3,550         3,925,412   

Carnegie Hall, Series A, 5.00%, 12/01/39

      2,150         2,410,645   

Museum of Modern Art, Series 1A, 5.00%, 4/01/31

      1,000         1,159,750   

New York State Dormitory Authority, RB:

      

Convent of the Sacred Heart (AGM), 5.75%, 11/01/40

      2,075         2,447,587   

Fordham University, Series A, 5.00%, 7/01/28

      325         377,650   

Fordham University, Series A, 5.50%, 7/01/36

      1,550         1,808,075   

General Purpose, Series A, 4.50%, 3/15/35

      2,000         2,197,180   

Haverstraw King’s Daughters Public Library, 4.00%, 7/01/28

      565         611,613   

Haverstraw King’s Daughters Public Library, 4.00%, 7/01/29

      585         629,232   

Haverstraw King’s Daughters Public Library, 4.00%, 7/01/30

      610         653,066   

Mount Sinai School of Medicine, 5.13%, 7/01/39

      665         733,382   

New School (AGM), 5.50%, 7/01/43

      4,050         4,614,529   

New York University, Series 1 (AMBAC), 5.50%, 7/01/40

      4,580         6,075,416   

New York University, Series B, 5.00%, 7/01/34

      1,000         1,156,930   

New York University, Series B, 5.00%, 7/01/37

      600         701,316   

New York University, Series B, 5.00%, 7/01/42

      3,500         4,021,080   

New York University, Series C, 5.00%, 7/01/38

      2,000         2,278,480   

State University Dormitory Facilities, Series A, 5.00%, 7/01/35

      800         909,120   

State University Dormitory Facilities, Series A, 5.00%, 7/01/40

      2,035         2,273,441   

New York State Dormitory Authority, Refunding RB:

      

Cornell University, Series A, 5.00%, 7/01/40

      1,000         1,151,080   

Mount Sinai School of Medicine at NYU (NPFGC), 5.00%, 7/01/35

      7,100         7,773,151   

New York University, Series A, 5.00%, 7/01/37

      4,775         5,581,306   

Rochester Institute of Technology, 4.00%, 7/01/32

      2,355         2,467,310   

Rochester Institute of Technology, 5.00%, 7/01/38

      500         573,150   

Rochester Institute Technology, 5.00%, 7/01/42

      750         859,725   

Rockefeller University, Series B, 4.00%, 7/01/38

      3,085         3,274,635   

 

2   BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013    

Schedule of Investments (continued)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

    Par
(000)		      Value  

New York (continued)

      

Education (concluded)

      

New York State Dormitory Authority, Refunding RB (concluded):

      

Saint John’s University, Series A, 5.00%, 7/01/27

    $ 430       $ 506,785   

State University Educational Facilities, Series A, 5.00%, 5/15/29

      1,000         1,179,900   

Rensselaer County Industrial Development Agency New York, RB, Polytechnic Institute, Series B (AMBAC),

      

5.50%, 8/01/22

      1,255         1,260,108   

Schenectady County Capital Resource Corp., Refunding RB, Union College,

      

5.00%, 7/01/32

      1,120         1,301,283   

St. Lawrence County Industrial Development Agency, RB, Clarkson University Project,

      

5.38%, 9/01/41

      500         574,265   

Tompkins County Development Corp., RB, Ithaca College Project (AGM):

      

5.50%, 7/01/33

      500         580,220   

5.25%, 7/01/36

      860         976,513   

Troy Industrial Development Authority, RB, Rensselaer Polytechnic Institute Project, Series E,

      

5.20%, 4/01/37

      2,280         2,551,046   
     

 

 

  
        98,184,222   
     

 

 

  

Health – 9.8%

      

Dutchess County Industrial Development Agency, RB, Vassar Brothers Medical Center (AGC):

      

5.50%, 4/01/30

      250         285,045   

5.50%, 4/01/34

      490         555,248   

Monroe County Industrial Development Corp., Refunding RB:

      

Rochester General Hospital Project, Series A, 5.00%, 12/01/32

      830         940,017   

Rochester General Hospital, Series A, 5.00%, 12/01/37

      350         388,819   

Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40

      4,650         5,371,773   

New York City Health & Hospital Corp., Refunding RB, Health System, Series A,

      

5.00%, 2/15/30

      2,200         2,484,306   

New York State Dormitory Authority, RB:

      

Healthcare, Series A, 5.00%, 3/15/38

      2,000         2,299,860   

Hudson Valley Hospital (BHAC) (FHA), 5.00%, 8/15/36

      6,500         7,205,705   

Montefiore Hospital (NPFGC) (FHA), 5.00%, 8/01/33

      1,500         1,585,170   

New York & Presbyterian Hospital (AGM), 5.00%, 8/15/14(c)

      4,925         5,218,875   

New York University Hospitals Center, Series A, 5.75%, 7/01/31

      3,450         4,072,414   

New York University Hospitals Center, Series A, 6.00%, 7/01/40

      1,100         1,293,556   

North Shore-Long Island Jewish Health System, Series A, 5.50%, 5/01/37

      2,075         2,350,726   

North Shore-Long Island Jewish Health System, Series C, 4.25%, 5/01/39

      1,500         1,569,705   

North Shore-Long Island Jewish Health System, Series D, 4.25%, 5/01/39

      1,750         1,838,182   

North Shore-Long Island Jewish Health System, Series D, 5.00%, 5/01/39

      640         716,211   

New York State Dormitory Authority, Refunding RB:

      

New York University Hospitals Center, Series A, 5.00%, 7/01/36

      1,500         1,617,300   

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32

      4,000         4,486,800   

North Shore-Long Island Jewish Obligated Group, Series A, 5.25%, 5/01/34

      9,220         10,587,234   

Saint Luke’s Roosevelt Hospital (FHA), 4.90%, 8/15/31

      2,900         3,098,563   
     

 

 

  
        57,965,509   
     

 

 

  

Housing – 5.2%

      

Monroe County Industrial Development Agency, IDRB, Southview Towers Project, AMT (SONYMA):

      

6.13%, 2/01/20

      780         782,512   

6.25%, 2/01/31

      1,125         1,127,497   

New York City Housing Development Corp., RB, AMT:

      

Series A-1-A, 5.00%, 11/01/30

      750         785,782   

Series A-1-A, 5.45%, 11/01/46

      1,335         1,389,094   

Series C, 5.00%, 11/01/26

      1,500         1,559,310   

Series C, 5.05%, 11/01/36

      2,000         2,154,960   

Series H-1, 4.70%, 11/01/40

      1,340         1,372,227   

Series H-2-A, 5.20%, 11/01/35

      840         880,606   

Series H-2-A, 5.35%, 5/01/41

      600         637,518   

 

    BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013   3

Schedule of Investments (continued)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

    Par
(000)		      Value  

New York (continued)

      

Housing (concluded)

      

New York City Housing Development Corp., Refunding RB, Series L-2-A,

      

4.00%, 5/01/44

    $ 4,665       $ 4,687,019   

New York Mortgage Agency, RB, 49th Series,

      

4.00%, 10/01/43

      5,500         5,573,205   

New York Mortgage Agency, Refunding RB, AMT:

      

Homeowner Mortgage, Series 97, 5.50%, 4/01/31

      555         555,733   

Series 133, 4.95%, 10/01/21

      520         539,084   

Series 143, 4.85%, 10/01/27

      1,100         1,146,629   

Series 143, 4.90%, 10/01/37

      792         819,273   

Series 143 (NPFGC), 4.85%, 10/01/27

      2,485         2,610,716   

New York State HFA, RB, St. Philips Housing, Series A, AMT (Fannie Mae),

      

4.65%, 11/15/38

      1,500         1,544,295   

Yonkers Industrial Development Agency New York, RB, Monastery Manor Associates LP Project, AMT (SONYMA),

      

5.25%, 4/01/37

      2,445         2,595,319   
     

 

 

  
        30,760,779   
     

 

 

  

State – 10.6%

      

New York City Transitional Finance Authority, BARB:

      

Fiscal 2008, Series S-1, 4.50%, 1/15/38

      1,700         1,790,491   

Fiscal 2009, Series S-1 (AGC), 5.50%, 7/15/38

      6,000         6,958,380   

Fiscal 2009, Series S-4 (AGC), 5.50%, 1/15/33

      5,500         6,426,750   

Fiscal 2009, Series S-4 (AGC), 5.50%, 1/15/39

      1,500         1,752,750   

Series S-1, 4.00%, 7/15/42

      1,385         1,447,934   

Series S-2 (AGM) (NPFGC), 5.00%, 1/15/37

      5,000         5,532,700   

Series S-2 (NPFGC), 4.25%, 1/15/34

      5,980         6,204,071   

New York State Dormitory Authority, ERB, Series C,

      

5.00%, 12/15/31

      6,230         7,011,055   

New York State Dormitory Authority, RB:

      

Master BOCES Program Lease (AGC), 5.00%, 8/15/28

      1,750         1,997,712   

Mental Health Services Facilities, Series B, 5.25%, 2/15/14(c)

      1,570         1,629,597   

School Districts Financing Program, Series C (AGM), 5.00%, 10/01/37

      4,050         4,495,500   

Series B, 5.00%, 3/15/42

      1,500         1,712,100   

New York State Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM),

      

5.00%, 10/01/35

      550         611,782   

New York State Thruway Authority, RB, Second General Highway and Bridge Trust Fund:

      

Series A (AMBAC), 5.00%, 4/01/26

      4,380         4,886,635   

Series B, 5.00%, 4/01/27

      1,500         1,718,820   

New York State Urban Development Corp., RB, State Personal Income Tax:

      

Series A, 3.50%, 3/15/28

      1,500         1,601,055   

State Facilities, Series A-1 (NPFGC), 5.00%, 3/15/14(c)

      5,000         5,201,300   

Tobacco Settlement Financing Corp. New York, RB, Series B-1C,

      

5.50%, 6/01/22

      1,900         1,908,417   
     

 

 

  
        62,887,049   
     

 

 

  

Tobacco – 0.8%

      

Tobacco Settlement Financing Corp. New York, RB, Series A-1 (AMBAC),

      

5.25%, 6/01/20

      5,000         5,021,250   
     

 

 

  

Transportation – 22.2%

      

Metropolitan Transportation Authority, RB:

      

Series 2008C, 6.50%, 11/15/28

      3,200         4,010,240   

Series H, 5.00%, 11/15/25

      1,000         1,202,110   

Series H, 4.00%, 11/15/34

      1,295         1,327,025   

Transportation, Series A, 5.00%, 11/15/27

      1,000         1,170,440   

Transportation, Series D, 5.25%, 11/15/41

      4,000         4,531,840   

Metropolitan Transportation Authority, Refunding RB:

      

Series B, 5.00%, 11/15/34

      1,500         1,688,355   

Series F, 5.00%, 11/15/30

      1,580         1,829,134   

Transportation, Series D, 5.25%, 11/15/29

      1,000         1,155,220   

New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated:

      

5.00%, 12/15/41

      6,000         6,779,220   

5.25%, 12/15/43

      3,500         4,019,855   

New York State Thruway Authority, Refunding RB:

      

General, Series I, 5.00%, 1/01/24

      1,505         1,842,556   

General, Series I, 5.00%, 1/01/37

      3,500         3,948,105   

General, Series I, 4.13%, 1/01/42

      1,850         1,925,906   

General, Series I, 5.00%, 1/01/42

      2,250         2,512,868   

Series F (AMBAC), 5.00%, 1/01/30

      6,000         6,375,660   

Series G (AGM), 4.75%, 1/01/29

      7,250         7,789,762   

Series G (AGM), 4.75%, 1/01/30

      9,000         9,635,940   

 

4   BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013    

Schedule of Investments (continued)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

    Par
(000)		      Value  

New York (continued)

      

Transportation (continued)

      

New York State Thruway Authority, Refunding RB (continued):

      

Series G (AGM), 5.00%, 1/01/30

    $ 2,000       $ 2,157,780   

Series G (AGM), 5.00%, 1/01/32

      1,030         1,111,257   

Niagara Falls Bridge Commission, Refunding RB, Bridge System, Series A (AGC),

      

4.00%, 10/01/19

      1,900         2,092,869   

Niagara Frontier Transportation Authority New York, RB, Buffalo Niagara International Airport, Series B (NPFGC),

      

5.50%, 4/01/19

      2,705         2,737,189   

Port Authority of New York & New Jersey, RB:

      

163rd Series, 5.00%, 7/15/35

      2,500         2,847,900   

Consolidated, 37th Series, AMT (AGM), 5.13%, 7/15/30

      2,500         2,637,450   

JFK International Air Terminal, Special Project, Series 6, AMT (NPFGC), 6.25%, 12/01/13

      4,425         4,487,835   

JFK International Air Terminal, Special Project, Series 6, AMT (NPFGC), 6.25%, 12/01/14

      7,380         7,630,108   

JFK International Air Terminal, Special Project, Series 6, AMT (NPFGC), 5.75%, 12/01/22

      10,160         10,199,014   

JFK International Air Terminal, Special Project, Series 6, AMT (NPFGC), 5.75%, 12/01/25

      3,500         3,513,440   

Port Authority of New York & New Jersey, Refunding RB, Consolidated, 177th Series, AMT,

      

4.00%, 1/15/43

      4,000         4,038,320   

Triborough Bridge & Tunnel Authority, RB(c):

      

Sub-Series A (NPFGC), 5.25%, 11/15/13

      6,000         6,160,800   

Subordinate Bonds (AMBAC), 5.00%, 11/15/13

      1,965         2,015,540   

Triborough Bridge & Tunnel Authority, Refunding RB:

      

General, Series A, 5.00%, 11/15/38

      1,000         1,168,490   

General, Series B, 5.00%, 11/15/31

      495         587,907   

General, Series B, 4.00%, 11/15/32

      500         542,510   

Series C, 5.00%, 11/15/38

      2,000         2,302,200   

Series E (NPFGC), 5.25%, 11/15/23

      630         632,615   

Series E (NPFGC), 5.00%, 11/15/32

      8,115         8,142,997   

Sub-Series A, 5.00%, 11/15/29

      875         1,042,484   

Sub-Series A, 3.13%, 11/15/31

      500         496,025   

Sub-Series A, 5.00%, 11/15/28

      2,500         2,973,700   
     

 

 

  
        131,262,666   
     

 

 

  

Utilities – 9.7%

      

Buffalo Sewer Authority New York, Refunding RB, Series F (NPFGC),

      

6.00%, 7/01/13

      1,175         1,185,211   

Long Island Power Authority, RB:

      

General, Series A (AGM), 5.00%, 5/01/36

      3,775         4,214,712   

Series A (AMBAC), 5.00%, 9/01/29

      7,000         7,345,030   

Long Island Power Authority, Refunding RB:

      

General, Series A (AGC), 6.00%, 5/01/33

      1,500         1,779,930   

General, Series B (AGM), 5.00%, 12/01/35

      4,000         4,376,120   

Series A (AGC), 5.75%, 4/01/39

      1,015         1,206,033   

New York City Municipal Water Finance Authority, RB, Series B,

      

5.00%, 6/15/36

      2,000         2,210,780   

New York City Municipal Water Finance Authority, Refunding RB:

      

Second General Resolution, Fiscal 2011, Series BB, 5.00%, 6/15/31

      1,000         1,169,080   

Second General Resolution, Series FF, 5.00%, 6/15/31

      1,500         1,740,630   

Series D (AGM), 5.00%, 6/15/37

      9,000         9,705,330   

Series DD, 5.00%, 6/15/32

      6,750         7,701,412   

Series DD (AGM), 4.50%, 6/15/39

      1,000         1,062,070   

Series FF, 4.00%, 6/15/45

      1,975         2,034,369   

Series FF, 5.00%, 6/15/45

      2,100         2,377,473   

New York State Environmental Facilities Corp., Refunding RB, Revolving Funds, New York City Municipal Water:

      

5.00%, 6/15/36

      2,100         2,465,253   

Series B, 5.00%, 6/15/33

      1,040         1,187,129   

New York State Power Authority, Refunding RB, Series A,

      

5.00%, 11/15/38

      4,920         5,692,686   
     

 

 

  
        57,453,248   
     

 

 

  

Total Municipal Bonds in New York

         643,751,563   
     

 

 

  

Guam – 1.0%

      

Transportation – 0.7%

      

Guam International Airport Authority, Refunding RB, Series C, AMT (NPFGC):

      

5.25%, 10/01/21

      2,240         2,247,997   

 

    BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    April 30, 2013   5

Schedule of Investments (continued)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

    Par
(000)		      Value  

Guam (concluded)

      

Transportation (concluded)

      

Guam International Airport Authority, Refunding RB, Series C, AMT (NPFGC) (concluded):

      

5.25%, 10/01/22

    $ 2,050       $ 2,057,318   
     

 

 

  
        4,305,315   
     

 

 

  

Utilities – 0.3%

      

Guam Power Authority, RB, Series A (AGM),

      

5.00%, 10/01/37

      1,380         1,485,225   
     

 

 

  

Total Municipal Bonds in Guam

         5,790,540   
     

 

 

  

Puerto Rico – 10.4%

      

Housing – 0.6%

      

Puerto Rico Housing Finance Authority, Refunding RB, Subordinate, Capital Fund Modernization,

      

5.13%, 12/01/27

      3,500         3,735,235   
     

 

 

  

State – 6.5%

      

Commonwealth of Puerto Rico, GO, Refunding (NPFGC):

      

Public Improvement, Series A, 5.50%, 7/01/20

      2,000         2,140,260   

Sub-Series C-7, 6.00%, 7/01/27

      1,400         1,478,624   

Sub-Series C-7, 6.00%, 7/01/28

      4,775         5,020,817   

Puerto Rico Infrastructure Financing Authority, RB, CAB, Series A (b):

      

(AMBAC), 6.44%, 7/01/35

      3,900         956,319   

(AMBAC), 6.63%, 7/01/43

      8,000         1,119,680   

(NPFGC), 6.17%, 7/01/31

      22,030         7,302,504   

Puerto Rico Public Buildings Authority, Refunding RB, Government Facilities Series M-3 (NPFGC),

      

6.00%, 7/01/28

      2,850         2,974,232   

Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A:

      

5.63%, 8/01/30

      2,000         2,061,540   

5.75%, 8/01/37

      7,150         7,672,093   

(AGM), 5.00%, 8/01/40

      2,100         2,202,795   

Puerto Rico Sales Tax Financing Corp., Refunding RB:

      

CAB, Series A (NPFGC), 5.64%, 8/01/41(b)

      12,800         2,660,736   

CAB, Series A (NPFGC), 5.67%, 8/01/43(b)

      4,000         737,360   

Senior Series C, 5.25%, 8/01/40

      2,035         2,204,739   
     

 

 

  
        38,531,699   
     

 

 

  

Transportation – 2.7%

      

Puerto Rico Highway & Transportation Authority, RB, Series Y (AGM),

      

6.25%, 7/01/21

      6,275         7,547,633   

Puerto Rico Highway & Transportation Authority, Refunding RB (AGM):

      

Series AA-1, 4.95%, 7/01/26

      3,000         3,232,140   

Series CC, 5.50%, 7/01/29

      2,050         2,298,665   

Series CC, 5.50%, 7/01/31

      2,500         2,765,075   
     

 

 

  
        15,843,513   
     

 

 

  

Utilities – 0.6%

      

Puerto Rico Electric Power Authority, RB, Series RR (NPFGC),

      

5.00%, 7/01/24

      1,000         1,006,570   

Puerto Rico Electric Power Authority, Refunding RB, Series VV (NPFGC),

      

5.25%, 7/01/30

      2,245         2,275,330   
     

 

 

  
        3,281,900   
     

 

 

  

Total Municipal Bonds in Puerto Rico

         61,392,347   
     

 

 

  

Total Municipal Bonds – 120.1%

         710,934,450   
     

 

 

  

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts(d)

              

New York – 37.1%

      

County/City/Special District/School District – 11.3%

      

City of New York, New York, GO:

      

Series J, 5.00%, 5/15/23

      6,750         7,071,030   

Sub-Series C-3 (AGC), 5.75%, 8/15/28(e)

      14,400         17,683,632   

New York City Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D-1,

      

5.00%, 11/01/38

      4,125         4,736,779   

New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC),

      

5.00%, 11/15/35

      20,000         21,590,800   

New York Liberty Development Corp., Refunding RB:

      

4 World Trade Center Project, 5.00%, 11/15/44

      2,000         2,198,120   

7 World Trade Center Project, Class 1, 4.00%, 9/15/35

      2,490         2,586,114   

7 World Trade Center Project, Class 1, 5.00%, 9/15/40

      3,645         4,154,352   

New York State Dormitory Authority, RB, State University Dormitory Facilities, Series A,

      

5.25%, 7/01/29

      6,000         6,904,380   
     

 

 

  
        66,925,207   
     

 

 

  

Education – 5.2%

      

New York State Dormitory Authority, ERB, Series B,

      

5.75%, 3/15/36

      7,850         9,440,096   

New York State Dormitory Authority, LRB, State University Dormitory Facilities, Series A,

      

5.00%, 7/01/35

      5,198         5,982,369   

 

6   BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013    

Schedule of Investments (continued)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d)

    Par
(000)		      Value  

New York (continued)

      

Education (concluded)

      

New York State Dormitory Authority, RB, New York University, Series A:

      

5.00%, 7/01/38

    $ 6,498       $ 7,403,208   

(AMBAC), 5.00%, 7/01/37

      5,707         6,386,626   

New York State Dormitory Authority, Refunding LRB, State University Dormitory Facilities, Series A,

      

5.00%, 7/01/42

      1,480         1,706,706   
     

 

 

  
        30,919,005   
     

 

 

  

Housing – 0.7%

      

New York State Mortgage Agency, Refunding RB, 48th Series,

      

3.70%, 10/01/38

      4,280         4,331,274   
     

 

 

  

State – 1.2%

      

New York State Dormitory Authority, RB, Mental Health Services Facilities, Series C, AMT (AGM),

      

5.40%, 2/15/33

      6,297         7,176,170   
     

 

 

  

Transportation – 14.6%

      

Hudson New York Yards Infrastructure Corp., RB, Series A,

      

5.75%, 2/15/47

      9,739         11,562,797   

Metropolitan Transportation Authority, RB, Series A (NPFGC),

      

5.00%, 11/15/31

      3,901         4,365,344   

New York Liberty Development Corp., RB, World Trade Center, 1 World Trade Center Project,

      

5.25%, 12/15/43

      18,000         20,673,078   

New York State Thruway Authority, Refunding RB:

      

Series A, 5.00%, 3/15/31

      3,940         4,599,005   

Series G (AGM), 5.00%, 1/01/32

      16,000         17,262,240   

Series H (AGM), 5.00%, 1/01/37

      10,000         11,240,500   

Port Authority of New York & New Jersey, RB, AMT:

      

Consolidated, 169th Series, 5.00%, 10/15/26

      6,000         7,079,100   

Consolidated, 169th Series, 5.00%, 10/15/25

      7,990         9,523,444   
     

 

 

  
        86,305,508   
     

 

 

  

Utilities – 4.1%

      

New York City Municipal Water Finance Authority, RB, Fiscal 2009, Series A,

      

5.75%, 6/15/40

      4,094         4,850,358   

New York City Municipal Water Finance Authority, Refunding RB:

      

Second General Resolution, Fiscal 2012, Series B, 5.00%, 6/15/44

      3,991         4,496,825   

Second General Resolution, Series HH, 5.00%, 6/15/32

      9,900         11,457,072   

Series FF-2, 5.50%, 6/15/40

      2,759         3,256,642   
     

 

 

  
        24,060,897   
     

 

 

  

Total Municipal Bonds in New York

         219,718,061   
     

 

 

  

Puerto Rico – 1.5%

      

State – 1.5%

      

Puerto Rico Sales Tax Financing Corp., Refunding RB, Series C,

      

5.00%, 8/01/40

      8,000         8,528,160   
     

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts – 38.6%

         228,246,221   
     

 

 

  

Total Long-Term Investments
(Cost – $869,704,569) – 158.7%

         939,180,671   
     

 

 

  

Short-Term Securities

    Shares         

BIF New York Municipal Money Fund, 0.00%(f)(g)

      3,748,061         3,748,061   
     

 

 

  

Total Short-Term Securities
(Cost – $3,748,061) – 0.6%

         3,748,061   
     

 

 

  

Total Investments
(Cost - $873,452,630*) – 159.3%

         942,928,732   

Other Assets Less Liabilities – 1.7%

         10,265,634   

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable – (19.2)%

         (113,545,583 ) 

VRDP Shares, at Liquidation Value – (41.8)%

         (247,700,000 ) 
     

 

 

  

Net Assets Applicable to Common Shares – 100.0%

       $ 591,948,783   
     

 

 

  

 

* As of April 30, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

    $ 761,191,472   
  

 

 

  

Gross unrealized appreciation

    $ 73,439,227   

Gross unrealized depreciation

      (5,186,928 ) 
  

 

 

  

Net unrealized appreciation

    $ 68,252,299   
  

 

 

  

 

    BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013   7

Schedule of Investments (continued)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
  

 

Notes to Schedule of Investments

 

(a) Variable rate security. Rate shown is as of report date and maturity shown is the date the principal owed can be recovered through demand.

 

(b) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

(c) US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

(d) Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

(e) All or a portion of security is subject to a recourse agreement, which may require the Fund to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Fund could ultimately be required to pay under the agreement, which expires on 2/15/17, is $7,625,500.

 

(f) Investments in issuers considered to be an affiliate of the Fund during the period ended April 30, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate

    Shares Held at
July  31,
2012		      Net Activity     Shares Held at
April  30,
2013		      Income  

BIF New York Municipal Money Fund

      10,257,884         (6,509,823 )      3,748,061       $ 140   

 

(g) Represents the current yield as of report date.

Portfolio Abbreviations

 

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:   AGC   Assured Guaranty Corp.    
  AGM   Assured Guaranty Municipal Corp.    
  AMBAC   American Municipal Bond Assurance Corp.  
  AMT   Alternative Minimum Tax (subject to)    
  BARB   Building Aid Revenue Bonds    
  BHAC   Berkshire Hathaway Assurance Corp.    
  BOCES   Board of Cooperative Educational Services  
  CAB   Capital Appreciation Bonds    
  ERB   Education Revenue Bonds    
  Fannie Mae   Federal National Mortgage Association    
  FHA   Federal Housing Administration    
  GO   General Obligation Bonds    
  HFA   Housing Finance Agency    
  IDRB   Industrial Development Revenue Bonds  
  LRB   Lease Revenue Bonds    
  NPFGC   National Public Finance Guarantee Corp.  
  PILOT   Payment in Lieu of Taxes    
  RB   Revenue Bonds    
  SONYMA   State of New York Mortgage Agency    
  Syncora   Syncora Guarantee    

 

•  

Financial futures contracts as of April 30, 2013 were as follows:

 

Contracts
Sold		   

Issue

   

Exchange

    Expiration    Notional Value      Unrealized
Depreciation		  
(71)    10-Year US Treasury Note    Chicago Board of Trade    June 2013    $ 9,468,516       $ (3,421 ) 
(111)    Ultra Long Term US Treasury Bond    Chicago Board of Trade    June 2013      16,469,625         (555,164 ) 
              

 

 

  
Total                $ (558,585 ) 
              

 

 

  

 

8   BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013    

Schedule of Investments (concluded)    BlackRock MuniYield New York Quality Fund, Inc. (MYN)
  

 

•  

For Fund compliance purposes, the Fund’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

•  

Fair Value Measurements – Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Fund has the ability to access

 

  •  

Level 2 – other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

  •  

Level 3 – unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy as of April 30, 2013:

 

      Level 1      Level 2      Level 3      Total  

Assets:

            

Investments:

            

Long-Term Investments1

      –       $ 939,180,671         –       $ 939,180,671   

Short-Term Securities

    $ 3,748,061         –         –         3,748,061   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 3,748,061       $ 939,180,671         –       $ 942,928,732   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

1 

See above Schedule of Investments for values in each sector.

 

      Level 1     Level 2      Level 3      Total  

Derivative Financial Instruments2

           

Liabilities:

           

Interest rate contracts

    $ (558,585 )      –         –       $ (558,585 ) 

 

2 

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

Certain of the Fund’s assets and liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of April 30, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:

 

      Level 1      Level 2     Level 3      Total  

Assets:

           

Cash pledged for financial futures contracts

    $ 426,000         –        –       $ 426,000   

Liabilities:

           

TOB trust certificates

      –       $ (113,484,961 )      –         (113,484,961 ) 

VRDP shares

      –         (247,700,000 )      –         (247,700,000 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

    $ 426,000       $ (361,184,961 )      –       $ (360,758,961 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

There were no transfers between levels during the period ended April 30, 2013.

 

    BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.    APRIL 30, 2013   9

 

Item 2    –    Controls and Procedures
2(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”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(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) 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

Certifications – 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.

BlackRock MuniYield New York Quality Fund, Inc.

 

By:  

/s/ John M. Perlowski

  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock MuniYield New York Quality Fund, Inc.

Date: June 24, 2013

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:  

/s/ John M. Perlowski

  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock MuniYield New York Quality Fund, Inc.

Date: June 24, 2013

 

By:  

/s/ Neal J. Andrews

  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of
  BlackRock MuniYield New York Quality Fund, Inc.

Date: June 24, 2013