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: 811-10503
Name of Fund: BlackRock New York Municipal 2018 Term Trust (BLH)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock New York
Municipal 2018 Term Trust, 55 East 52nd Street, New York, NY 10055
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 12/31/2017
Date of reporting period: 09/30/2017
Item 1 Schedule of Investments
Schedule of Investments September 30, 2017 (Unaudited) |
BlackRock New York Municipal 2018 Term Trust (BLH) (Percentages shown are based on Net Assets) |
BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST | SEPTEMBER 30, 2017 | 1 |
Schedule of Investments (continued) |
BlackRock New York Municipal 2018 Term Trust (BLH) |
2 | BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST | SEPTEMBER 30, 2017 |
Schedule of Investments (continued) |
BlackRock New York Municipal 2018 Term Trust (BLH) |
Notes to Schedule of Investments |
(a) | Security is collateralized by municipal bonds or U.S. Treasury obligations. |
(b) | U.S. 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. |
(c) | Variable rate security. Rate shown is the rate in effect as of period end. |
(d) | Annualized 7-day yield as of period end. |
(e) | During the period ended September 30, 2017, investments in issuers considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended were as follows: |
Affiliate | Shares Held at December 31, 2016 |
Net Activity |
Shares Held at September 30, 2017 |
Value at September 30, 2017 |
Income |
Net Realized |
Change in Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class |
703,225 | (34,853 | ) | 668,372 | $ | 668,572 | $ | 3,520 | $ | 254 | $ | 128 |
For Trust compliance purposes, the Trusts sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.
Portfolio Abbreviations |
AGC | Assured Guarantee Corp. | |
AGM | Assured Guaranty Municipal Corp. | |
AMT | Alternative Minimum Tax (subject to) | |
ARB | Airport Revenue Bonds | |
GO | General Obligation Bonds | |
LOC | Letter of Credit | |
LRB | Lease Revenue Bonds | |
RB | Revenue Bonds |
BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST | SEPTEMBER 30, 2017 | 3 |
Schedule of Investments (concluded) |
BlackRock New York Municipal 2018 Term Trust (BLH) |
Fair Value Hierarchy as of Period End |
Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| Level 1 Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust 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 marketcorroborated inputs) |
| Level 3 Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trusts own assumptions used in determining the fair value of investments) |
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 fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the Global Valuation Committee) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or trusts. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.
Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trusts policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trusts policy regarding valuation of investments, refer to the Trusts most recent financial statements as contained in its semi- annual report.
The following table summarizes the Trusts investments categorized in the disclosure hierarchy:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: |
||||||||||||||||
Investments: | ||||||||||||||||
Long Term Investments1 | | $ | 51,519,673 | | $ | 51,519,673 | ||||||||||
Short-Term Securities: |
||||||||||||||||
Municipal Bonds |
| 1,550,000 | | 1,550,000 | ||||||||||||
Money Market Fund |
$ | 668,572 | | | 668,572 | |||||||||||
Total |
$ | 668,572 | $ | 53,069,673 | | $ | 53,738,245 |
1 | See above Schedule of Investments for values in each sector. |
During the period ended September 30, 2017, there were no transfers between levels.
4 | BLACKROCK NEW YORK MUNICIPAL 2018 TERM TRUST | SEPTEMBER 30, 2017 |
Item 2 Controls and Procedures
2(a) | The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants 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 registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants 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 New York Municipal 2018 Term Trust | ||
By: | /s/ John M. Perlowski | |
John M. Perlowski | ||
Chief Executive Officer (principal executive officer) of | ||
BlackRock New York Municipal 2018 Term Trust | ||
Date: November 20, 2017 |
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 New York Municipal 2018 Term Trust | ||
Date: November 20, 2017 | ||
By: | /s/ Neal J. Andrews | |
Neal J. Andrews | ||
Chief Financial Officer (principal financial officer) of | ||
BlackRock New York Municipal 2018 Term Trust | ||
Date: November 20, 2017 |