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 _____________________________________________________ |
BlackRock New York Municipal 2018 Term Trust | |
(Exact name of registrant as specified in charter) | |
100 Bellevue Parkway, Wilmington, DE | 19809 |
(Address of principal executive offices) | (Zip code) |
Robert S. Kapito, President
BlackRock New York Municipal 2018 Term Trust
40 East 52nd Street, New York, NY 10022
(Name and address of agent for service)
Registrant's telephone number, including area code: | 888-825-2257 ____________________________________________ |
Date of fiscal year end: | December 31, 2004 ____________________________________________ |
Date of reporting period: | September 30, 2004 ____________________________________________ |
Item 1. Schedule of Investments
The registrant's 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, 2004
BlackRock New York Municipal 2018 Term Trust (BLH)
LONG-TERM INVESTMENTS152.4% | |||||||||
New York136.5% | |||||||||
Aaa | $1,320 | East Rochester Hsg. Auth., 5.20%, 12/20/24 | 12/11 @ 101 | $ 1,368,127 | |||||
BBB | 2,450 | Jefferson Cnty. Ind. Dev. Agcy., Sld. Wst. Disp. Rev., 5.20%, 12/01/20 | 12/13 @ 100 | 2,436,158 | |||||
AAA | 1,900 | Long Island Pwr. Auth., Elec. Sys. Rev., Zero Coupon, 6/01/18, FSA | No Opt. Call | 1,067,534 | |||||
AAA | 5,000 | Met. Transp. Auth., Ser. A, 5.125%, 11/15/21, FGIC | 11/12 @ 100 | 5,347,700 | |||||
New York City, GO, | |||||||||
A | 4,000 | Ser. B, 5.375%, 12/01/20 | 12/11 @ 100 | 4,280,120 | |||||
A+ | 5,000 | Ser. G, 5.75%, 8/01/18 | 08/12 @ 100 | 5,576,200 | |||||
A- | 4,000 | New York City Ind. Dev. Agcy., Civic Fac. Rev., YMCA of Greater New York Proj., | 4,133,760 |
||||||
5.25%, 8/01/21 |
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New York City Transl. Fin. Auth., | |||||||||
AA+ | 3,000 | Ser. B, 5.00%, 5/01/18 | 11/11 @ 101 | 3,223,170 | |||||
AA+ | 1,895 | Ser. C, 5.00%, 5/01/19 | 05/09 @ 101 | 1,992,536 | |||||
New York Dorm. Auth., | |||||||||
AA | 1,000 | Brooklyn Law Sch., Ser. A, 5.50%, 7/01/18, RAA | 07/13 @ 100 | 1,102,190 | |||||
AA- | 1,800 | City Univ., Ser. A, 5.125%, 7/01/21 | 07/11 @ 100 | 1,880,496 | |||||
AA- | 3,750 | Mental Hlth. Svcs., Ser. A, 5.00%, 2/15/18 | 02/08 @ 102 | 3,904,237 | |||||
AAA | 1,030 | 3 | Mental Hlth. Svcs., Ser. B, 5.50%, 8/15/11, MBIA | N/A | 1,188,569 | ||||
AAA | 1,590 | Mental Hlth. Svcs., Ser. B, 5.50%, 8/15/20, MBIA | 08/11 @ 100 | 1,748,825 | |||||
AA- | 3,230 | Upstate Cmnty. Colls., Ser. A, 5.00%, 7/01/19 | 07/09 @ 101 | 3,369,375 | |||||
AAA | 1,000 | Willow Towers Inc. Proj., 5.25%, 2/01/22 | 08/12 @ 101 | 1,047,220 | |||||
AA- | 3,500 | New York Urban Dev. Corp., Correctional Facs., 5.00%, 1/01/19 | 01/08 @ 102 | 3,625,860 | |||||
AA | 4,180 | Niagra
Cnty. Ind. Dev. Agcy., Civic Fac. Rev., Niagra Univ. Proj., Ser. A, |
4,415,794 |
||||||
5.35%, 11/01/23, RAA | |||||||||
AA | 4,130 | Oneida Hlth. Care Corp., Residential Hlth. Care Proj., 5.30%, 2/01/21 | 4,384,986 |
||||||
AA | 3,875 | Orange
Cnty. Ind. Dev. Agcy., Civic Fac. Rev., St. Lukes Hosp. Newburg Proj., Ser. A, |
4,167,640 | ||||||
5.375%, 12/01/21, RAA | |||||||||
Port Auth. of NY & NJ, | |||||||||
AAA | 3,885 | 4 | Ser. 126, 5.00%, 11/15/18, FGIC | 05/12 @ 101 | 4,088,185 | ||||
Caa2 | 2,600 | Spec. Oblig., Contl./Eastn. Proj. LaGuardia, 9.125%, 12/01/15 | 11/04 @ 100 | 2,630,576 | |||||
BBB | 4,000 | Rockland Tobacco Asset Sec. Corp., Tobacco Settlement Rev., 5.625%, 8/15/35 | 08/12 @ 100 | 3,560,000 | |||||
BBB | 3,000 | TSASC Inc., Tobacco Settlement Rev., Ser. 1, 5.75%, 7/15/32 | 07/12 @ 100 | 2,758,740 | |||||
AAA | 3,710 | Westchester Cnty. Ind. Dev. Agcy., Civic Fac. Rev., Ser. A, 5.125%, 12/01/22, AMBAC | 12/11 @ 102 | 4,001,643 | |||||
77,299,641 | |||||||||
Puerto Rico8.10% | |||||||||
BBB | 2,000 | Childrens Trust Fund, Tobacco Settlement Rev., 5.625%, 5/15/43 | 05/12 @ 100 | 1,738,360 | |||||
BBB+ | 2,500 | 3 | Puerto Rico Pub. Fin. Corp., Ser. E, 5.70%, 2/01/10 | N/A | 2,844,150 | ||||
Multi-State7.80% | |||||||||
A3 | 4,000 | 5 | Charter Mac Equity Issuer Trust, Ser. A, 6.625%, 6/30/49 | 06/09 @ 100 | 4,417,760 | ||||
4,582,510 | |||||||||
Total Long-Term Investments (cost $81,683,943) | 86,299,911 | ||||||||
1
BlackRock New York Municipal 2018 Term Trust (BLH) (continued)
MONEY MARKET FUND0.4% | ||||||
250 | AIM Tax Free Investment Co. Cash Reserve Portfolio (cost $250,000) | $ 250,000 | ||||
Total Investments152.8% (cost $81,933,943) | $ 86,549,911 | |||||
Other assets in excess of liabilities2.6% | 1,490,006 | |||||
Preferred shares at redemption value, including dividends payable(55.4%) | (31,402,238) | |||||
Net Assets Applicable to Common Shareholders100% | $ 56,637,679 | |||||
|
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1 | Using the higher of S&Ps, Moodys or Fitchs rating. | |||
2 | Date (month/year) and price of the earliest call or redemption. There may be other call provisions at varying prices at later dates. | |||
3 | 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. | |||
4 | Entire or partial principal amount pledged as collateral for financial futures contracts. | |||
5 | 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, 2004, the Trust held 7.8% of its net assets, with a current market value of $4,417,760, in securities restricted as to resale. |
KEY TO ABBREVIATIONS |
|||||
AMBAC |
| American Municipal Bond Assurance Corporation | GO |
| General Obligation |
FGIC |
| Financial Guaranty Insurance Company | MBIA |
| Municipal Bond Insurance Association |
FSA |
| Financial Security Assurance | RAA |
| Radian Asset Assurance |
3
(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrants disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 3. Exhibits.
Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 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
______________________________________________________________
By: /s/ Henry Gabbay
_____________________________________________________________________
Name: Henry Gabbay
Title: Treasurer
Date: November 23, 2004
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/ Robert S. Kapito
_____________________________________________________________________
Name: Robert S. Kapito
Title: Principal Executive Officer
Date: November 23, 2004
By: /s/ Henry Gabbay
_____________________________________________________________________
Name: Henry Gabbay
Title: Principal Financial Officer
Date: November 23, 2004