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 811-8217
Name of Fund: BlackRock MuniHoldings New York Insured Fund, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer, BlackRock MuniHoldings New York Insured Fund, Inc., 800 Scudders
Mill Road, Plainsboro, NJ 08536. Mailing address: P.O. Box 9011,
Princeton, NJ 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 08/31/2007
Date of reporting period: 09/01/06 - 11/30/06
Item 1 - Schedule of Investments
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
New York - 139.6% $ 1,500 Albany County, New York, Airport Authority, Airport Revenue Bonds, AMT,
5.375% due 12/15/2017 (g) $ 1,552
----------------------------------------------------------------------------------------------------------------
1,500 Albany County, New York, Airport Authority, Airport Revenue Bonds, AMT,
5.50% due 12/15/2019 (g) 1,554
----------------------------------------------------------------------------------------------------------------
5,200 Albany County, New York, Airport Authority, Airport Revenue Bonds, AMT,
6% due 12/15/2023 (g)(o) 5,421
----------------------------------------------------------------------------------------------------------------
3,375 Albany, New York, IDA, Civic Facility Revenue Bonds (The University Heights
Association-Albany Law School), Series A, 6.75% due 12/01/2029 (k) 3,665
----------------------------------------------------------------------------------------------------------------
1,000 Albany, New York, Municipal Water Finance Authority, Water and Sewer System
Revenue Refunding Bonds, Series A, 6.375% due 12/01/2009 (e)(j) 1,091
----------------------------------------------------------------------------------------------------------------
1,000 Buffalo, New York, GO, Series D, 6% due 12/01/2009 (g)(j) 1,081
----------------------------------------------------------------------------------------------------------------
1,000 Buffalo, New York, GO, Series D, 6% due 12/01/2009 (g)(j) 1,081
----------------------------------------------------------------------------------------------------------------
1,025 Erie County, New York, GO, Public Improvement, Series A, 5.75% due 10/01/2013 (e) 1,094
----------------------------------------------------------------------------------------------------------------
2,500 Erie County, New York, IDA, School Facility Revenue Bonds (City of Buffalo Project),
5.75% due 5/01/2019 (g) 2,764
----------------------------------------------------------------------------------------------------------------
5,150 Erie County, New York, IDA, School Facility Revenue Bonds (City of Buffalo Project),
5.75% due 5/01/2024 (g) 5,508
----------------------------------------------------------------------------------------------------------------
3,000 Long Island Power Authority, New York, Electric System Revenue Bonds, Series A,
5% due 9/01/2029 (a) 3,206
----------------------------------------------------------------------------------------------------------------
5,950 Long Island Power Authority, New York, Electric System Revenue Bonds, Series A,
5% due 9/01/2034 (a) 6,348
----------------------------------------------------------------------------------------------------------------
5,750 Long Island Power Authority, New York, Electric System Revenue Refunding Bonds,
Series B, 5% due 12/01/2035 (c) 6,187
----------------------------------------------------------------------------------------------------------------
3,750 Madison County, New York, IDA, Civic Facility Revenue Bonds (Colgate University
Project), Series A, 5% due 7/01/2035 (a) 4,029
----------------------------------------------------------------------------------------------------------------
5,000 Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue Bonds,
Series A, 5% due 11/15/2011 (e)(j) 5,339
----------------------------------------------------------------------------------------------------------------
8,000 Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue Bonds,
Series A, 5% due 11/15/2035 (i) 8,658
----------------------------------------------------------------------------------------------------------------
14,515 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds,
Series A, 5% due 11/15/2030 (g) 15,356
----------------------------------------------------------------------------------------------------------------
2,500 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds,
Series A, 5.25% due 11/15/2031 (e) 2,692
-----------------------------------------------------------------------------------------------------------------------------------
Portfolio Abbreviations
To simplify the listings of BlackRock MuniHoldings New York Insured Fund, Inc.'s
portfolio holdings in the Schedule of Investments, we have abbreviated the names
of many of the securities according to the list below.
AMT Alternative Minimum Tax (subject to)
COP Certificates of Participation
DRIVERS Derivative Inverse Tax-Exempt Receipts
GO General Obligation Bonds
IDA Industrial Development Authority
IDR Industrial Development Revenue Bonds
M/F Multi-Family
PCR Pollution Control Revenue Bonds
PILOT Payment in Lieu of Taxes
VRDN Variable Rate Demand Notes
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$29,000 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds,
Series A, 5.75% due 11/15/2032 (g) $ 32,103
----------------------------------------------------------------------------------------------------------------
1,500 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds,
Series B, 5% due 11/15/2028 (i) 1,602
----------------------------------------------------------------------------------------------------------------
3,500 Metropolitan Transportation Authority, New York, Service Contract Revenue Refunding
Bonds, Series A, 5% due 7/01/2021 (e) 3,740
----------------------------------------------------------------------------------------------------------------
2,000 Metropolitan Transportation Authority, New York, Service Contract Revenue Refunding
Bonds, Series A, 5% due 7/01/2025 (e) 2,122
----------------------------------------------------------------------------------------------------------------
2,535 Metropolitan Transportation Authority, New York, Transit Facilities Revenue Bonds,
Series C, 4.75% due 7/01/2012 (g)(j) 2,696
----------------------------------------------------------------------------------------------------------------
1,000 Metropolitan Transportation Authority, New York, Transit Facilities Revenue Bonds,
Series C-1, 5.50% due 7/01/2008 (i)(j) 1,036
----------------------------------------------------------------------------------------------------------------
2,500 Metropolitan Transportation Authority, New York, Transportation Revenue Bonds,
Series A, 5% due 11/15/2032 (e) 2,671
----------------------------------------------------------------------------------------------------------------
6,300 Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,
Series F, 5.25% due 11/15/2027 (i) 6,783
----------------------------------------------------------------------------------------------------------------
4,210 Nassau Health Care Corporation, New York, Health System Revenue Bonds, 5.75%
due 8/01/2009 (g)(j) 4,529
----------------------------------------------------------------------------------------------------------------
2,000 New York City, New York, City Health and Hospital Corporation, Health System Revenue
Refunding Bonds, Series A, 5.25% due 2/15/2017 (i) 2,090
----------------------------------------------------------------------------------------------------------------
1,250 New York City, New York, City Housing Development Corporation, M/F Housing Revenue Bonds,
AMT, Series C, 5% due 11/01/2026 1,296
----------------------------------------------------------------------------------------------------------------
2,000 New York City, New York, City Housing Development Corporation, M/F Housing Revenue Bonds,
AMT, Series C, 5.05% due 11/01/2036 2,119
----------------------------------------------------------------------------------------------------------------
2,340 New York City, New York, City Housing Development Corporation, M/F Housing Revenue Bonds,
AMT, Series H-2, 5.125% due 11/01/2034 2,417
----------------------------------------------------------------------------------------------------------------
885 New York City, New York, City IDA, Civic Facility Revenue Bonds (Anti-Defamation League
Foundation), Series A, 5.50% due 6/01/2022 (i) 911
----------------------------------------------------------------------------------------------------------------
1,200 New York City, New York, City IDA, Civic Facility Revenue Refunding Bonds
(Nightingale-Bamford School), 5.25% due 1/15/2017 (a) 1,303
----------------------------------------------------------------------------------------------------------------
11,805 New York City, New York, City IDA, IDR (Japan Airlines Company), AMT,
6% due 11/01/2015 (g) 11,903
----------------------------------------------------------------------------------------------------------------
4,000 New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium
Project), 5% due 1/01/2031 (a) 4,340
----------------------------------------------------------------------------------------------------------------
10,890 New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium
Project), 5% due 1/01/2036 (a) 11,786
----------------------------------------------------------------------------------------------------------------
23,000 New York City, New York, City IDA, PILOT Revenue Bonds (Yankee Stadium Project),
5% due 3/01/2036 (i) 24,841
----------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 7,965 New York City, New York, City IDA, Parking Facility Revenue Bonds (Royal
Charter-New York Presbyterian), 5.75% due 12/15/2029 (g) $ 8,854
----------------------------------------------------------------------------------------------------------------
1,500 New York City, New York, City IDA, Special Facility Revenue Refunding Bonds (Terminal
One Group Association Project), AMT, 5.50% due 1/01/2024 1,640
----------------------------------------------------------------------------------------------------------------
6,720 New York City, New York, City Municipal Financing Authority, Water and Sewer Systems
Revenue Bonds, 5% due 6/15/2036 (i) 7,249
----------------------------------------------------------------------------------------------------------------
500 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System,
Crossover Revenue Refunding Bonds, Series F, 5% due 6/15/2029 (g) 521
----------------------------------------------------------------------------------------------------------------
2,850 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System
Revenue Bonds, Series A, 5.75% due 6/15/2009 (e)(j) 3,033
----------------------------------------------------------------------------------------------------------------
8,500 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System
Revenue Bonds, Series B, 5.75% due 6/15/2007 (i)(j) 8,685
----------------------------------------------------------------------------------------------------------------
1,250 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System,
Revenue Refunding Bonds, Series A, 5.125% due 6/15/2034 (i) 1,327
----------------------------------------------------------------------------------------------------------------
5,500 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System,
Revenue Refunding Bonds, Series A, 5% due 6/15/2035 (a) 5,846
----------------------------------------------------------------------------------------------------------------
1,750 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System,
Revenue Refunding Bonds, Series C, 5% due 6/15/2035 (i) 1,864
----------------------------------------------------------------------------------------------------------------
9,500 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System
Revenue Refunding Bonds, VRDN, Series G, 3.52% due 6/15/2024 (e)(l) 9,500
----------------------------------------------------------------------------------------------------------------
1,145 New York City, New York, City Transitional Finance Authority, Future Tax Secured Revenue
Bonds, Series B, 5.50% due 2/01/2012 (i) 1,239
----------------------------------------------------------------------------------------------------------------
805 New York City, New York, City Transitional Finance Authority, Future Tax Secured Revenue
Bonds, Series B, 5.50% due 2/01/2013 (i) 871
----------------------------------------------------------------------------------------------------------------
6,405 New York City, New York, City Transitional Finance Authority, Future Tax Secured Revenue
Bonds, Series B, 6.25% due 11/15/2018 (e) 7,033
----------------------------------------------------------------------------------------------------------------
1,180 New York City, New York, City Transitional Finance Authority, Future Tax Secured Revenue
Bonds, Series C, 5.50% due 5/01/2009 (j) 1,246
----------------------------------------------------------------------------------------------------------------
16,200 New York City, New York, City Transitional Finance Authority, Future Tax Secured Revenue
Bonds, Series C, 5% due 2/01/2033 (e) 17,221
----------------------------------------------------------------------------------------------------------------
2,500 New York City, New York, City Transitional Finance Authority, Future Tax Secured Revenue
Bonds, Series E, 5.25% due 2/01/2022 (i) 2,699
----------------------------------------------------------------------------------------------------------------
1,000 New York City, New York, City Transitional Finance Authority, Revenue Refunding Bonds,
Series A, 5% due 11/15/2026 (e) 1,059
----------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 880 New York City, New York, GO, Refunding, Series A, 6.375% due 5/15/2010 (e)(j) $ 970
----------------------------------------------------------------------------------------------------------------
3,700 New York City, New York, GO, Refunding, Series A, 6.25% due 5/15/2026 (g) 4,035
----------------------------------------------------------------------------------------------------------------
1,580 New York City, New York, GO, Series B, 5.75% due 8/01/2010 (i)(j) 1,716
----------------------------------------------------------------------------------------------------------------
2,920 New York City, New York, GO, Series B, 5.75% due 8/01/2013 (i) 3,160
----------------------------------------------------------------------------------------------------------------
3,750 New York City, New York, GO, Series D, 5.25% due 10/15/2023 4,050
----------------------------------------------------------------------------------------------------------------
1,850 New York City, New York, GO, Series I, 6.25% due 4/15/2007 (i)(j) 1,887
----------------------------------------------------------------------------------------------------------------
8,000 New York City, New York, GO, Series J, 5% due 5/15/2023 8,490
----------------------------------------------------------------------------------------------------------------
8,300 New York City, New York, GO, Series M, 5% due 4/01/2035 8,810
----------------------------------------------------------------------------------------------------------------
1,150 New York City, New York, GO, Sub-Series C-1, 5.25% due 8/15/2026 1,247
----------------------------------------------------------------------------------------------------------------
1,250 New York City, New York, Sales Tax Asset Receivable Corporation Revenue Bonds, DRIVERS,
Series 1438Z, 6.252% due 10/15/2012 (a)(m) 1,476
----------------------------------------------------------------------------------------------------------------
15,175 New York City, New York, Sales Tax Asset Receivable Corporation Revenue Bonds,
Series A, 5% due 10/15/2032 (a) 16,265
----------------------------------------------------------------------------------------------------------------
3,950 New York City, New York, Trust for Cultural Resources, Revenue Refunding Bonds (American
Museum of Natural History), Series A, 5% due 7/01/2036 (i) 4,225
----------------------------------------------------------------------------------------------------------------
3,000 New York Convention Center Development Corporation, New York, Revenue Bonds (Hotel Unit
Fee Secured), 5% due 11/15/2030 (a) 3,226
----------------------------------------------------------------------------------------------------------------
1,000 New York State Dormitory Authority, Hospital Revenue Refunding Bonds (New York
Presbyterian Hospital), 5.50% due 8/01/2011 (a)(f) 1,079
----------------------------------------------------------------------------------------------------------------
2,000 New York State Dormitory Authority, Hospital Revenue Refunding Bonds (North General
Hospital), 5.75% due 2/15/2017 (n) 2,231
----------------------------------------------------------------------------------------------------------------
1,535 New York State Dormitory Authority, Lease Revenue Bonds (Municipal Health Facilities
Improvement Program), Series 1, 5.50% due 1/15/2014 (g) 1,652
----------------------------------------------------------------------------------------------------------------
645 New York State Dormitory Authority, Lease Revenue Bonds (Office Facilities Audit and
Control), 5.50% due 4/01/2023 (i) 679
----------------------------------------------------------------------------------------------------------------
3,750 New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds
(The New School University), 5% due 7/01/2046 (i) 4,026
----------------------------------------------------------------------------------------------------------------
1,340 New York State Dormitory Authority Revenue Bonds (853 Schools Program), Issue 2,
Series E, 5.75% due 7/01/2019 (a) 1,425
----------------------------------------------------------------------------------------------------------------
1,200 New York State Dormitory Authority Revenue Bonds (Cooper Union of Advance Science),
6.25% due 7/01/2009 (i)(j) 1,289
----------------------------------------------------------------------------------------------------------------
2,058 New York State Dormitory Authority Revenue Bonds (Gustavus Adolphus Child & Family
Services, Inc.), Series B, 5.50% due 7/01/2018 (a) 2,176
----------------------------------------------------------------------------------------------------------------
6,750 New York State Dormitory Authority Revenue Bonds (Interfaith Medical Center), Series D,
5.40% due 2/15/2028 (i) 6,986
----------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 1,585 New York State Dormitory Authority Revenue Bonds (Long Island University), Series B,
5.50% due 9/01/2020 (k) $ 1,730
----------------------------------------------------------------------------------------------------------------
1,250 New York State Dormitory Authority Revenue Bonds (Long Island University), Series B,
5.25% due 9/01/2028 (k) 1,338
----------------------------------------------------------------------------------------------------------------
1,180 New York State Dormitory Authority Revenue Bonds (New York State Rehabilitation
Association), Series A, 5.25% due 7/01/2019 (c) 1,282
----------------------------------------------------------------------------------------------------------------
1,000 New York State Dormitory Authority Revenue Bonds (New York State Rehabilitation
Association), Series A, 5.125% due 7/01/2023 (c) 1,062
----------------------------------------------------------------------------------------------------------------
1,845 New York State Dormitory Authority Revenue Bonds (Pace University), 6%
due 7/01/2010 (i)(j) 2,017
----------------------------------------------------------------------------------------------------------------
3,500 New York State Dormitory Authority Revenue Bonds (Pace University), 6%
due 7/01/2010 (i)(j) 3,826
----------------------------------------------------------------------------------------------------------------
2,150 New York State Dormitory Authority Revenue Bonds (Saint Barnabas Hospital),
5.45% due 8/01/2035 (a)(f) 2,198
----------------------------------------------------------------------------------------------------------------
1,240 New York State Dormitory Authority Revenue Bonds (School Districts Financing Program),
Series D, 5% due 10/01/2030 (i) 1,313
----------------------------------------------------------------------------------------------------------------
6,900 New York State Dormitory Authority Revenue Bonds (School Districts Financing Program),
Series E, 5.75% due 10/01/2030 (i) 7,625
----------------------------------------------------------------------------------------------------------------
1,135 New York State Dormitory Authority Revenue Bonds (Upstate Community Colleges),
Series A, 6% due 7/01/2010 (g)(j) 1,241
----------------------------------------------------------------------------------------------------------------
270 New York State Dormitory Authority Revenue Bonds (Upstate Community Colleges),
Series A, 6% due 7/01/2010 (g)(j) 295
----------------------------------------------------------------------------------------------------------------
3,700 New York State Dormitory Authority, Revenue Refunding Bonds (Bronx-Lebanon Hospital
Center), Series E, 5.20% due 2/15/2013 (i) 3,815
----------------------------------------------------------------------------------------------------------------
1,865 New York State Dormitory Authority, Revenue Refunding Bonds (City University System),
Series 1, 5.25% due 7/01/2014 (e) 1,933
----------------------------------------------------------------------------------------------------------------
3,400 New York State Dormitory Authority, Revenue Refunding Bonds (Saint Charles Hospital and
Rehabilitation Center), Series A, 5.625% due 7/01/2012 (i) 3,598
----------------------------------------------------------------------------------------------------------------
1,370 New York State Dormitory Authority, Revenue Refunding Bonds (School District Financing
Program), Series I, 5.75% due 10/01/2018 (i) 1,524
----------------------------------------------------------------------------------------------------------------
4,485 New York State Dormitory Authority, Revenue Refunding Bonds, Series B, 5.50%
due 8/15/2017 (i) 4,592
----------------------------------------------------------------------------------------------------------------
1,550 New York State Dormitory Authority, Supported Debt Revenue Bonds (Mental Health
Facilities), Series B, 5.25% due 2/15/2014 (j) 1,713
----------------------------------------------------------------------------------------------------------------
285 New York State Dormitory Authority, Supported Debt Revenue Bonds (Mental Health
Facilities), Series B, 5.25% due 2/15/2023 309
----------------------------------------------------------------------------------------------------------------
1,060 New York State Dormitory Authority, Supported Debt Revenue Bonds (Mental Health
Facilities), Series D, 5.875% due 8/15/2010 (g)(j) 1,148
----------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 7,000 New York State Dormitory Authority, Supported Debt Revenue Bonds (State University
Dormitory Facilities), Series A, 5% due 7/01/2031 (i) $ 7,570
----------------------------------------------------------------------------------------------------------------
1,000 New York State Dormitory Authority, Supported Debt Revenue Refunding Bonds (Department
of Health), Series A, 5% due 7/01/2025 (c) 1,069
----------------------------------------------------------------------------------------------------------------
12,960 New York State Energy Research and Development Authority, Gas Facilities Revenue
Refunding Bonds (Brooklyn Union Gas Company/Keyspan), AMT, Series A, 4.70%
due 2/01/2024 (e) 13,409
----------------------------------------------------------------------------------------------------------------
6,000 New York State Energy Research and Development Authority, PCR, Refunding (Central
Hudson Gas and Electric), Series A, 5.45% due 8/01/2027 (a) 6,331
----------------------------------------------------------------------------------------------------------------
6,000 New York State Environmental Facilities Corporation, Water Facilities Revenue Bonds
(Long Island Water Corp. Project), AMT, Series A, 4.90% due 10/01/2034 (i) 6,209
----------------------------------------------------------------------------------------------------------------
4,400 New York State Environmental Facilities Corporation, Water Facilities Revenue Refunding
Bonds (Spring Valley Water Company), Series B, 6.15% due 8/01/2024 (a) 4,410
----------------------------------------------------------------------------------------------------------------
750 New York State Housing Finance Agency, State Personal Income Tax Revenue Bonds (Economic
Development and Housing), Series A, 5% due 9/15/2023 (i) 801
----------------------------------------------------------------------------------------------------------------
6,800 New York State Medical Care Facilities Finance Agency, Revenue Bonds (Montefiore Medical
Center), Series A, 5.75% due 2/15/2025 (a)(f) 6,810
----------------------------------------------------------------------------------------------------------------
1,745 New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, AMT, Series 130, 4.80%
due 10/01/2037 1,772
----------------------------------------------------------------------------------------------------------------
2,140 New York State Mortgage Agency, Homeowner Mortgage Revenue Refunding Bonds, AMT,
Series 67, 5.70% due 10/01/2017 (i) 2,190
----------------------------------------------------------------------------------------------------------------
1,500 New York State Mortgage Agency, Homeowner Mortgage Revenue Refunding Bonds, AMT,
Series 133, 4.95% due 10/01/2021 1,555
----------------------------------------------------------------------------------------------------------------
6,100 New York State Mortgage Agency, Homeowner Mortgage Revenue Refunding Bonds, AMT,
Series 137, 4.70% due 10/01/2031 6,170
----------------------------------------------------------------------------------------------------------------
2,100 New York State Mortgage Agency, Homeowner Mortgage Revenue Refunding Bonds, Series 83,
5.55% due 10/01/2027 (i) 2,166
----------------------------------------------------------------------------------------------------------------
1,170 New York State Mortgage Agency Revenue Refunding Bonds, AMT, Series 82,
5.65% due 4/01/2030 (i) 1,179
----------------------------------------------------------------------------------------------------------------
2,000 New York State Municipal Bond Bank Agency, Special School Purpose Revenue Bonds,
Series C, 5.25% due 6/01/2019 2,157
----------------------------------------------------------------------------------------------------------------
3,900 New York State Municipal Bond Bank Agency, Special School Purpose Revenue Bonds,
Series C, 5.25% due 6/01/2020 4,225
----------------------------------------------------------------------------------------------------------------
5,000 New York State Thruway Authority, General Revenue Bonds, Series F, 5% due 1/01/2030 (a) 5,357
----------------------------------------------------------------------------------------------------------------
2,000 New York State Thruway Authority, General Revenue Refunding Bonds, Series G,
4.75% due 1/01/2029 (g) 2,095
----------------------------------------------------------------------------------------------------------------
9,250 New York State Thruway Authority, General Revenue Refunding Bonds, Series G,
4.75% due 1/01/2030 (g) 9,681
----------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 5,000 New York State Thruway Authority, Highway and Bridge Trust Fund Revenue Bonds,
Series B-1, 5.75% due 4/01/2010 (e)(j) $ 5,399
----------------------------------------------------------------------------------------------------------------
3,000 New York State Thruway Authority, Highway and Bridge Trust Fund Revenue Bonds,
Series B-1, 5.75% due 4/01/2010 (e)(j) 3,239
----------------------------------------------------------------------------------------------------------------
8,700 New York State Thruway Authority, Second General Highway and Bridge Trust Fund Revenue
Bonds, Series A, 5% due 4/01/2026 (a) 9,407
----------------------------------------------------------------------------------------------------------------
3,000 New York State Urban Development Corporation, Personal Income Tax Revenue Bonds,
Series C-1, 5% due 3/15/2013 (i)(j) 3,245
----------------------------------------------------------------------------------------------------------------
2,000 New York State Urban Development Corporation, Personal Income Tax Revenue Bonds
(State Facilities), Series A-1, 5% due 3/15/2029 (e) 2,131
----------------------------------------------------------------------------------------------------------------
1,000 Niagara Falls, New York, City School District, COP, Refunding (High School Facility),
5% due 6/15/2028 (g) 1,067
----------------------------------------------------------------------------------------------------------------
1,700 Oneida County, New York, IDA, Civic Facilities Revenue Bonds (Mohawk Valley), Series A,
5.20% due 2/01/2013 (g) 1,760
----------------------------------------------------------------------------------------------------------------
1,800 Oneida-Herkimer, New York, Solid Waste Management Authority, Solid Waste Revenue
Refunding Bonds, 5.50% due 4/01/2013 (g) 1,976
----------------------------------------------------------------------------------------------------------------
2,500 Port Authority of New York and New Jersey, Consolidated Revenue Bonds, AMT, One Hundred
Thirty-Seventh Series, 5.125% due 7/15/2030 (g) 2,683
----------------------------------------------------------------------------------------------------------------
12,000 Port Authority of New York and New Jersey Revenue Refunding Bonds, AMT, 120th Series, 6%
due 10/15/2032 (i) 12,358
----------------------------------------------------------------------------------------------------------------
3,000 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK
International Air Terminal LLC), AMT, Series 6, 6.25% due 12/01/2011 (i) 3,339
----------------------------------------------------------------------------------------------------------------
7,830 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK
International Air Terminal LLC), AMT, Series 6, 6.25% due 12/01/2015 (i) 9,191
----------------------------------------------------------------------------------------------------------------
7,000 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK
International Air Terminal LLC), AMT, Series 6, 5.90% due 12/01/2017 (i) 7,287
----------------------------------------------------------------------------------------------------------------
2,500 Rensselaer, New York, City School District, COP, 5% due 6/01/2036 (n) 2,690
----------------------------------------------------------------------------------------------------------------
2,340 Rome, New York, City School District, GO, 5.50% due 6/15/2017 (g) 2,476
----------------------------------------------------------------------------------------------------------------
5,000 Schenectady, New York, IDA, Civic Facility Revenue Bonds (Union College Project),
Series A, 5.45% due 12/01/2009 (a)(j) 5,370
----------------------------------------------------------------------------------------------------------------
3,000 Schenectady, New York, IDA, Civic Facility Revenue Refunding Bonds (Union College
Project), Series A, 5.625% due 7/01/2011 (a)(j) 3,319
----------------------------------------------------------------------------------------------------------------
1,000 Suffolk County, New York, IDA, Civic Facility Revenue Refunding Bonds (Dowling College),
Series A, 5% due 6/01/2036 (d) 1,047
----------------------------------------------------------------------------------------------------------------
4,355 Suffolk County, New York, IDA, IDR (Keyspan-Port Jefferson), AMT, 5.25% due 6/01/2027 4,590
----------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 4,660 Suffolk County, New York, IDA, Solid Waste Disposal Facility, Revenue Refunding Bonds
(Ogden Martin System Huntington Project), AMT, 6% due 10/01/2010 (a) $ 5,048
----------------------------------------------------------------------------------------------------------------
5,000 Suffolk County, New York, IDA, Solid Waste Disposal Facility, Revenue Refunding Bonds
(Ogden Martin System Huntington Project), AMT, 6.15% due 10/01/2011 (a) 5,541
----------------------------------------------------------------------------------------------------------------
3,530 Suffolk County, New York, IDA, Solid Waste Disposal Facility, Revenue Refunding Bonds
(Ogden Martin System Huntington Project), AMT, 6.25% due 10/01/2012 (a) 3,989
----------------------------------------------------------------------------------------------------------------
1,300 Suffolk County, New York, Public Improvement, GO, Series B, 4.50% due 11/01/2024 (i) 1,345
----------------------------------------------------------------------------------------------------------------
5,000 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series A-1,
5.25% due 6/01/2020 (a) 5,417
----------------------------------------------------------------------------------------------------------------
13,275 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series A-1,
5.25% due 6/01/2021 (a) 14,351
----------------------------------------------------------------------------------------------------------------
2,000 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series A-1,
5.25% due 6/01/2022 (a) 2,160
----------------------------------------------------------------------------------------------------------------
3,700 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series C-1,
5.50% due 6/01/2021 4,059
----------------------------------------------------------------------------------------------------------------
12,000 Triborough Bridge and Tunnel Authority, New York, Revenue Refunding Bonds, 5.25%
due 11/15/2023 (i) 12,993
----------------------------------------------------------------------------------------------------------------
8,315 Triborough Bridge and Tunnel Authority, New York, Revenue Refunding Bonds,
5% due 11/15/2032 (i) 8,815
----------------------------------------------------------------------------------------------------------------
2,095 Triborough Bridge and Tunnel Authority, New York, Revenue Refunding Bonds, Series A,
5% due 1/01/2012 (i)(j) 2,239
----------------------------------------------------------------------------------------------------------------
1,500 Triborough Bridge and Tunnel Authority, New York, Revenue Refunding Bonds, Series B,
5% due 11/15/2032 (i) 1,590
----------------------------------------------------------------------------------------------------------------
2,465 Triborough Bridge and Tunnel Authority, New York, Subordinate Revenue Bonds,
5% due 11/15/2028 (a) 2,633
----------------------------------------------------------------------------------------------------------------
6,000 Triborough Bridge and Tunnel Authority, New York, Subordinate Revenue Bonds, Series A,
5.25% due 11/15/2030 (i) 6,497
----------------------------------------------------------------------------------------------------------------
7,000 Westchester County, New York, IDA, Civic Facility Revenue Bonds (Purchase College
Foundation Housing Project), Series A, 5.75% due 12/01/2031 (a) 7,777
----------------------------------------------------------------------------------------------------------------
1,795 Yonkers, New York, GO, Series A, 5.75% due 10/01/2015 (e) 1,956
-----------------------------------------------------------------------------------------------------------------------------------
Guam - 1.0% 3,700 A.B. Won Guam International Airport Authority, General Revenue Refunding Bonds, AMT,
Series C, 5.25% due 10/01/2021 (i) 3,887
----------------------------------------------------------------------------------------------------------------
1,050 A.B. Won Guam International Airport Authority, General Revenue Refunding Bonds, AMT,
Series C, 5.25% due 10/01/2022 (i) 1,103
-----------------------------------------------------------------------------------------------------------------------------------
Puerto 4,800 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation
Rico - 11.6% Revenue Bonds, 5.25% due 7/01/2017 (e) 5,249
----------------------------------------------------------------------------------------------------------------
10,000 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue
Refunding Bonds, Series D, 5.75% due 7/01/2012 (j) 11,132
----------------------------------------------------------------------------------------------------------------
10,280 Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax and Capital
Appreciation Revenue Bonds, Series A, 4.62% due 7/01/2031 (b)(e) 3,628
----------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 5,500 Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax and Capital
Appreciation Revenue Bonds, Series A, 4.66% due 7/01/2033 (b)(e) $ 1,776
----------------------------------------------------------------------------------------------------------------
9,300 Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax and Capital
Appreciation Revenue Bonds, Series A, 4.66% due 7/01/2034 (a)(b) 2,862
----------------------------------------------------------------------------------------------------------------
2,200 Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax and Capital
Appreciation Revenue Bonds, Series A, 4.67% due 7/01/2037 (a)(b) 592
----------------------------------------------------------------------------------------------------------------
1,345 Puerto Rico Commonwealth, Public Improvement, GO, Refunding, Series B, 5.25% due 7/01/2032 1,468
----------------------------------------------------------------------------------------------------------------
500 Puerto Rico Commonwealth, Public Improvement, GO, Series A, 5.25% due 7/01/2030 546
----------------------------------------------------------------------------------------------------------------
3,570 Puerto Rico Convention Center District Authority, Hotel Occupancy Tax Revenue Bonds,
Series A, 5% due 7/01/2031 (a) 3,873
----------------------------------------------------------------------------------------------------------------
4,750 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series NN, 5.125% due 7/01/2029 5,034
----------------------------------------------------------------------------------------------------------------
4,850 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series RR, 5% due 7/01/2029 (c) 5,203
----------------------------------------------------------------------------------------------------------------
4,950 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series RR, 5% due 7/01/2030 (n) 5,303
----------------------------------------------------------------------------------------------------------------
7,110 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series RR, 5% due 7/01/2035 (e) 7,644
-----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds (Cost - $681,280) - 152.2% 713,900
-----------------------------------------------------------------------------------------------------------------------------------
Municipal Bonds Held in Trust (q)
-----------------------------------------------------------------------------------------------------------------------------------
New York - 24.2% 18,000 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series A, 5.75%
due 11/15/2032 (g) 19,926
23,000 New York City, New York, City Municipal Water Finance Authority, Water and Sewer System
Revenue Bonds, Series A, 5.75% due 6/15/2011 (i)(j) 25,095
9,500 New York City, New York, GO, Series C, 5.75% due 3/15/2012 (g)(j) 10,519
7,000 New York City, New York, Sales Tax Asset Receivable Corporation Revenue Bonds, Series A,
5% due 10/15/2032 (a) 7,635
21,000 New York Convention Center Development Corporation, New York, Revenue Bonds (Hotel Unit
Fee Secured), 5% due 11/15/2035 (a) 22,535
26,730 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK
International Air Terminal), AMT, Series 6, 5.75% due 12/01/2022 (i) 27,785
-----------------------------------------------------------------------------------------------------------------------------------
Puerto 2,500 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue
Rico - 0.6% Bonds, Series B, 5.875% due 7/1/2035 (i) 2,723
-----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds Held in Trust (Cost - $112,675) - 24.8% 116,218
-----------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
Shares
Held Short-Term Securities Value
-----------------------------------------------------------------------------------------------------------------------------------
3,337 CMA New York Municipal Money Fund, 2.99% (h)(p) $ 3,337
-----------------------------------------------------------------------------------------------------------------------------------
Total Short-Term Securities (Cost - $3,337) - 0.7% 3,337
-----------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $797,292*) - 177.7% 833,455
Other Assets Less Liabilities - 2.2% 10,083
Liability for Trust Certificates, Including Interest Expense Payable - (13.1%) (61,435)
Preferred Stock, at Redemption Value - (66.8%) (313,120)
---------
Net Assets Applicable to Common Stock - 100.0% $ 468,983
=========
* The cost and unrealized appreciation (depreciation) of investments as of
November 30, 2006, as computed for federal income tax purposes, were as
follows:
Aggregate cost $ 737,114
=========
Gross unrealized appreciation $ 35,301
Gross unrealized depreciation (109)
---------
Net unrealized appreciation $ 35,192
=========
(a) AMBAC Insured.
(b) Represents a zero coupon bond; the interest rate shown reflects the
effective yield at the time of purchase.
(c) CIFG Insured.
(d) ACA Insured.
(e) FGIC Insured.
(f) FHA Insured.
(g) FSA Insured.
BlackRock MuniHoldings New York Insured Fund, Inc.
Schedule of Investments as of November 30, 2006 (in Thousands)
(h) Investments in companies considered to be an affiliate of the Fund, for
purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as
follows:
--------------------------------------------------------------------------
Net Dividend
Affiliate Activity Income
--------------------------------------------------------------------------
CMA New York Municipal Money Fund 3,203 $30
--------------------------------------------------------------------------
(i) MBIA Insured.
(j) Prerefunded.
(k) Radian Insured.
(l) Security may have a maturity of more than one year at time of issuance,
but has variable rate and demand features that qualify it as a short-term
security. The rate disclosed is that currently in effect. This rate
changes periodically based upon prevailing market rates.
(m) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(n) XL Capital Insured.
(o) All or a portion of security held as collateral in connection with open
financial futures contracts.
(p) Represents the current yield as of November 30, 2006.
(q) Securities represent underlying bonds transferred to a separate
securitization trust established in a tender option bond transaction in
which the Fund may have acquired the residual interest certificates. These
securities serve as collateral in a financing transaction.
o Financial futures contracts sold as of November 30, 2006 were as follows:
----------------------------------------------------------------------------------
Number Expiration Face Unrealized
of Contracts Issue Date Value Depreciation
----------------------------------------------------------------------------------
395 30-Year U.S.
Treasury Bonds March 2007 $45,095 $ (83)
----------------------------------------------------------------------------------
Item 2 - Controls and Procedures
2(a) - The Registrant's principal executive and principal financial officers
have evaluated the Registrant's disclosure controls and procedures,
including internal control over financial reporting, within 90 days of
this filing. Such principal officers have concluded that as of January
23, 2007 the Registrant's disclosure controls and procedures were
effective in design and operation to reasonably 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
were sufficient to form the basis of the certifications required by Rule
30a-2 of the Investment Company Act of 1940, as amended. Prior to
reaching that conclusion, such principal officers had become aware of
matters relating to the Registrant's participation in certain inverse
floater structures that necessitated adjustments to financial information
included in Item 1 of this filing. As a result, management of the
Registrant had reevaluated certain disclosure controls and procedures
determined not to be effective, as discussed more fully below.
Management of the Registrant is responsible for establishing and
maintaining effective internal control over financial reporting. In
fulfilling this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of controls.
The Registrant's internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for
external purposes in accordance with U.S. generally accepted accounting
principles. Such internal control includes policies and procedures that
provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of a registrant's assets
that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections of
any evaluation of effectiveness to future periods are subject to the risk
that controls may become inadequate because of changes in conditions, or
that the degree of compliance with the policies or procedures may
deteriorate.
A control deficiency exists when the design or operation of a control
does not allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect misstatements
on a timely basis. A significant deficiency is a control deficiency, or
combination of control deficiencies, that adversely affects the
Registrant's ability to initiate, authorize, record, process or report
financial data reliably in accordance with generally accepted accounting
principles such that there is more than a remote likelihood that a
misstatement of the Registrant's annual or interim financial statements
that is more than inconsequential will not be prevented or detected. A
material weakness is a significant deficiency, or combination of
significant deficiencies, that results in more than a remote likelihood
that a material misstatement of the annual or interim financial
statements will not be prevented or detected.
The Registrant identified the following control deficiency, that was
determined to be a material weakness, as defined above, in the
Registrant's internal control over financial reporting at October 31,
2006. The Registrant's controls related to the review and analysis of
relevant terms and conditions of transfers of certain assets pertaining
to inverse floater structures were not operating effectively to
appropriately determine whether the transfers of assets qualified for
sale accounting under the provisions of Statement of Financial Accounting
Standards No. 140, "Accounting for Transfers and Servicing of Financial
Assets and Extinguishments of Liabilities" ("SFAS 140"). As a result,
these controls did not detect that certain transfers were not
appropriately recorded as borrowings. Accordingly, the Registrant's
schedule of investments as of and for the period ended October 31, 2006,
were restated to appropriately reflect transfers of such securities as
secured borrowings. These adjustments had no impact on net assets, net
asset value per share or total return.
Subsequent to October 31, 2006, but prior to the evaluation of the design
and operation of the Registrant's disclosure controls and procedures at
January 23, 2007, the Registrant's disclosure controls and procedures
were modified to enhance the review and analysis of the relevant terms
and conditions of transfers of securities in connection with inverse
floater structures in light of SFAS 140.
2(b) - There have been no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the last fiscal quarter of the period
covered by this report that has materially affected, or are reasonably
likely to materially affect, the registrant's internal control over
financial reporting. However, as discussed above, subsequent to October
31, 2006, the Registrant has enhanced controls related to the application
of SFAS 140.
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 MuniHoldings New York Insured Fund, Inc.
By: /s/ Robert C. Doll, Jr.
-------------------------------
Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniHoldings New York Insured Fund, Inc.
Date: January 23, 2007
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 C. Doll, Jr.
-------------------------------
Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniHoldings New York Insured Fund, Inc.
Date: January 23, 2007
By: /s/ Donald C. Burke
-------------------------------
Donald C. Burke
Chief Financial Officer
BlackRock MuniHoldings New York Insured Fund, Inc.
Date: January 23, 2007