FORM N-Q
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Investment Company Act file number:
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811-10503 |
| BlackRock New York Municipal 2018 Term Trust | |
| (Exact name of registrant as specified in charter) | |
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| Registrant's telephone number, including area code: | 888-825-2257 | |
| Date of fiscal year end: December 31, 2005 | ||
| Date of reporting period: | September 30, 2005 | |
Item 1. Schedule of Investments.
The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS (unaudited)
SEPTEMBER
30, 2005
BlackRock New York Municipal 2018 Term Trust (BLH)
| Principal | Option Call | |||||||||
| Amount | Provisions2 | |||||||||
| Rating1 | (000) | Description | (unaudited) | Value | ||||||
| LONG-TERM INVESTMENTS—149.9% | ||||||||||
| Multi-State—7.4% | ||||||||||
| A3 | $4,000 | 3 | Charter Mac Equity Issuer Trust, Ser. A, 6.625%, 6/30/09 | No Opt. Call | $ 4,326,080 | |||||
| New York—134.3% | ||||||||||
| NR | 450 | Albany Indl. Dev. Agcy., New Covenant Charter Sch. Proj., Ser. A, 7.00%, 5/01/25 | 05/15 @ 102 | 442,953 | ||||||
| Dorm. Auth., | ||||||||||
| AA | 1,000 | Brooklyn Law Sch. Proj., Ser. A, 5.50%, 7/01/18, RAA | 07/13 @ 100 | 1,086,440 | ||||||
| AA- | 1,800 | City Univ. Proj., Ser. A, 5.125%, 7/01/11 | 07/11 @ 100 | 1,962,522 | ||||||
| AAA | 3,455 | 4 | Mental Hlth. Svcs. Proj., Ser. A, 5.00%, 2/15/08 | N/A | 3,674,013 | |||||
| AA- | 295 | Mental Hlth. Svcs. Proj., Ser. A, 5.00%, 2/15/18 | 02/08 @ 102 | 306,325 | ||||||
| AAA | 110 | Mental Hlth. Svcs. Proj., Ser. A, 5.50%, 8/15/20, MBIA | 08/11 @ 100 | 119,617 | ||||||
| AAA | 1,480 | 4 | Mental Hlth. Svcs. Proj., Ser. B, 5.50%, 8/15/11, MBIA | N/A | 1,649,667 | |||||
| AAA | 1,030 | 4 | Mental Hlth. Svcs. Proj., Ser. B, 5.50%, 8/15/11, MBIA | N/A | 1,148,079 | |||||
| AA- | 1,170 | 4 | Upstate Cmnty. Proj., Ser. A, 5.00%, 7/01/09 | N/A | 1,256,135 | |||||
| AA- | 2,060 | Upstate Cmnty. Proj., Ser. A, 5.00%, 7/01/19 | 07/09 @ 101 | 2,146,335 | ||||||
| AAA | 1,000 | Willow Towers Inc., Proj., 5.25%, 2/01/22 | 08/12 @ 101 | 1,072,890 | ||||||
| Aaa | 1,320 | East Rochester Hsg. Auth., 5.20%, 12/20/24 | 12/11 @ 101 | 1,385,340 | ||||||
| BBB | 2,450 | Jefferson Cnty. Ind. Dev. Agcy. Sld. Wst. Disp. Rev., 5.20%, 12/01/20 | 12/13 @ 100 | 2,485,599 | ||||||
| AAA | 1,900 | Long Island Pwr. Auth. Elec. Sys. Rev., Zero Coupon, 6/01/18, FSA | No Opt. Call | 1,107,605 | ||||||
| AAA | 5,000 | Met. Transp. Auth., Ser. A, 5.125%, 11/15/21, FGIC | 11/12 @ 100 | 5,329,000 | ||||||
| A- | 4,000 | New York City Ind. Dev. Agcy. Civic Fac. Rev., YMCA of Greater New York Proj., | ||||||||
| 5.25%, 8/01/21 | 02/11 @ 100 | 4,165,280 | ||||||||
| New York City Transl. Fin. Auth., | ||||||||||
| AAA | 3,000 | Ser. B, 5.00%, 5/01/18 | 11/11 @ 101 | 3,203,910 | ||||||
| AAA | 1,895 | Ser. C, 5.00%, 5/01/19 | 05/09 @ 101 | 1,985,505 | ||||||
| New York City, GO, | ||||||||||
| A+ | 4,000 | Ser. B, 5.375%, 12/01/20 | 12/11 @ 100 | 4,281,480 | ||||||
| A+ | 5,000 | Ser. G, 5.75%, 8/01/18 | 08/12 @ 100 | 5,552,250 | ||||||
| AA- | 3,500 | New York Urban Dev. Corp. Correctional Facs., 5.00%, 1/01/19 | 01/08 @ 102 | 3,617,075 | ||||||
| AA | 4,180 | Niagra Cnty. Ind. Dev. Agcy. Civic Fac. Rev., Niagara Univ. Proj., Ser. A, 5.35%, | ||||||||
| 11/01/23, RAA | 11/11 @ 101 | 4,476,906 | ||||||||
| AA | 4,130 | Oneida Hlth. Care Corp. Residential Hlth. Care Proj., 5.30%, 2/01/21, RAA | 02/11 @ 101 | 4,363,345 | ||||||
| AA | 3,875 | Orange Cnty. Ind. Dev. Agcy. Civic Fac. Rev., St. Luke’s Hosp. Newburg Proj., | ||||||||
| Ser. A, 5.375%, 12/01/21, RAA | 12/11 @ 101 | 4,145,126 | ||||||||
| Port Auth. of NY & NJ, | ||||||||||
| Caa2 | 2,600 | 9.125%, 12/01/15 | 01/05 @ 100 | 2,601,560 | ||||||
| AAA | 3,885 | 5 | Ser. 126, 5.00%, 11/15/18, FGIC | 05/12 @ 101 | 4,050,967 | |||||
| BBB | 4,000 | Rockland Tobacco Asset Sec. Corp. Tobacco Settlement Rev., 5.625%, 8/15/35 | 08/12 @ 100 | 4,164,360 | ||||||
| BBB | 3,000 | TSASC, Inc. Tobacco Settlement Rev., Ser. 1, 5.75%, 7/15/32 | 07/12 @ 100 | 3,162,780 | ||||||
| AAA | 3,710 | Westchester Cnty. Ind. Dev. Agcy. Civic Fac. Rev., Ser. A, 5.125%, 12/01/22, AMBAC | 12/11 @ 102 | 3,989,474 | ||||||
| 78,932,538 | ||||||||||
| Puerto Rico—8.2% | ||||||||||
| BBB | 2,000 | Children’s Trust Fund Tobacco Settlement Rev., 5.625%, 5/15/43 | 05/12 @ 100 | 2,078,420 | ||||||
| Aaa | 2,500 | 4 | Pub. Fin. Corp., Ser. E, 5.70%, 2/01/10 | N/A | 2,740,775 | |||||
| 4,819,195 | ||||||||||
| Total Long-Term Investments (cost $82,162,297) | 88,077,813 | |||||||||
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BlackRock New York Municipal 2018 Term Trust (BLH) (continued)
| Shares | ||||||||||
| (000) | Value | |||||||||
| MONEY MARKET FUND—1.0% | ||||||||||
| 600 | AIM Tax Free Investment Co. Cash Reserve Portfolio (cost $600,000) | $ 600,000 | ||||||||
| Total Investments—150.9% (cost $82,762,2976) | $ 88,677,813 | |||||||||
| Other assets in excess of liabilities—2.5% | 1,481,589 | |||||||||
| Preferred shares at redemption value, including dividends payable—(53.4)% | (31,405,797) | |||||||||
| Net Assets Applicable to Common Shareholders—100% | $ 58,753,605 | |||||||||
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| 1 | Using the higher of S&P’s, Moody’s or Fitch’s rating. | ||||||||||
| 2 | Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. | ||||||||||
| 3 | Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of September 30, 2005, the Trust held 7.4% of its net assets, with a current market value of $4,326,080, in securities restricted as to resale. | ||||||||||
| 4 | This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par. | ||||||||||
| 5 | Security, or a portion thereof, pledged as collateral with a value of $424,644 on 99 short U.S. Treasury Note futures contracts expiring December 2005 and 37 short U.S. Treasury Bond futures contracts expiring December 2005. The value of such contracts on September 30, 2005 was $15,115,297, with an unrealized gain of $223,822. | ||||||||||
| 6 | Cost for Federal tax purposes is $82,757,864. The net unrealized appreciation on a tax basis is $5,919,949, consisting of $5,919,949 gross unrealized appreciation and $0 unrealized depreciation. | ||||||||||
| KEY TO ABBREVIATIONS | |||||||||||
| AMBAC | — | American Municipal Bond Assurance Corp. | GO | — | General Obligation | ||||||
| FGIC | — | Financial Guaranty Insurance Co. | MBIA | — | Municipal Bond Insurance Assoc. | ||||||
| FSA | — | Financial Security Assurance | RAA | — | Radian Asset Assurance | ||||||
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Item 2. Controls and Procedures. (a) The Registrant's principal executive and principal
financial officers have evaluated the Registrant's disclosure controls and
procedures within 90 days of this filing and have concluded, as of that date,
that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods
and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s
management , including it principle executive and principle financial officers,
as appropriate to allow timely decisions regarding required disclosure. (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.
Separate certifications of the registrant’s principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.
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) BlackRock New York Municipal 2018 Term Trust
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.
Name: Henry Gabbay
Title: Treasurer
Date: November 18, 2005
Name: Robert S. Kapito
Title: Principal Executive Officer
Date: November 18, 2005
By: /s/ Henry Gabbay
Name: Henry Gabbay
Title: Principal Financial Officer
Date: November 18, 2005