As filed with the Securities and Exchange Commission on September 29, 2005
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21169
NEUBERGER BERMAN NEW YORK INTERMEDIATE MUNICIPAL FUND INC.
----------------------------------------------------------
(Exact Name of the Registrant as Specified in Charter)
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
(Address of Principal Executive Offices - Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Peter E. Sundman, Chief Executive Officer
Neuberger Berman New York Intermediate Municipal Fund Inc.
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
Arthur Delibert, Esq.
Kirkpatrick & Lockhart Nicholson Graham LLP
1800 Massachusetts Avenue, N.W.
Washington, D.C. 20036-1221
(Names and addresses of agents for service)
Date of fiscal year end: October 31, 2005
Date of reporting period: July 31, 2005
Form N-Q is to be used by management investment companies to file reports with
the Commission not later than 60 days after the close of their first and third
fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of
1940 ("1940 Act")(17 CFR 270.30b1-5). The Commission may use the information
provided on Form N-Q in its regulatory, disclosure review, inspection, and
policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549. The OMB has reviewed this collection of information under the clearance
requirements of 44 U.S.C. section 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
NEUBERGER BERMAN JULY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc.
-----------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY @ RATING VALUE t
($000's omitted) Moody's S&P ($000's omitted)
TAX-EXEMPT SECURITIES-BACKED BY INSURANCE (34.0%)
AMERICAN CAPITAL ACCESS
1,060 Puerto Rico Ind., Tourist, Ed., Med., & Env. Ctrl. Fac. Rev.,
(Polytechnic Univ. of Puerto Rico Proj.), Ser. 2002 A,
5.25%, due 8/1/16 A 1,116 ++
AMERICAN MUNICIPAL BOND ASSURANCE CORP.
2,000 Metro. Trans. Au. (NY) Ref. Rev., Ser. 2002 A, 5.50%, due
11/15/15 AAA 2,239
2,920 New York City (NY) IDA Civic Fac. Rev. (Packer Collegiate
Institute Proj.), Ser. 2002, 5.00%, due 6/1/22 Aaa AAA 3,082 ++
960 New York City (NY) Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev.,
Ser. 1992 A, 5.88%, due 6/15/13 Aaa 1,114
2,025 New York City (NY) Trans. Fin. Au. Ref. Rev., Ser. 2002 C,
5.25%, due 8/1/17 AAA 2,203
2,410 New York St. Dorm. Au. Rev. (Rochester Institute of
Technology Proj.), Ser. 2002 A, 5.25%, due 7/1/19 Aaa 2,611 ++
3,000 Port Authority of NY & NJ Rev., Ser. 2002, 5.50%, due 12/15/12 AAA 3,277
1,535 Ulster Co. (NY) Res. Rec. Agcy. Solid Waste Sys. Ref. Rev.,
Ser. 2002, 5.25%, due 3/1/16 AAA 1,680
FINANCIAL GUARANTY INSURANCE CO.
2,505 Metro. Trans. Au. (NY) Dedicated Tax Fund Rev., Ser. 2001 A,
5.25%, due 11/15/14 AAA 2,741
FINANCIAL SECURITY ASSURANCE INC.
500 Long Island (NY) Pwr. Au. Elec. Sys. Rev., Ser. 1998 A, 5.13%,
due 12/1/16 Aaa AAA 529
1,410 New York City (NY) Hlth. & Hosp. Corp. Rev., Ser. 2002 A,
5.50%, due 2/15/13 AAA 1,562
MUNICIPAL BOND INVESTORS ASSURANCE CORP.
2,000 New York St. Dorm. Au. Insured Rev. (Long Island Jewish Med.
Ctr.), Ser. 1998, 5.00%, due 7/1/18 AAA 2,080 ++
1,600 New York St. Dorm. Au. Insured Rev. (The Culinary Institute of
America), Ser. 1999, 5.38%, due 7/1/15 AAA 1,739 ++
1,980 New York St. Dorm. Au. Rev. (New York Med. College Proj.),
Ser. 1998, 5.00%, due 7/1/21 Aaa AAA 2,063 ++
--------
28,036
--------
TAX-EXEMPT SECURITIES-OTHER (121.7%)
3,000 Albany (NY) IDA Civic Fac. Rev., (Charitable Leadership
Foundation Ctr. for Med. Science Proj.), Ser. 2002 A, 6.00%,
due 7/1/19 Baa3 3,240
800 Brazos (TX) River Au. Ref. PCR (TXU Energy Co. LLC Proj.),
Ser. 2003 A, 6.75%, due 4/1/38 Putable 4/1/13 Baa2 BBB 902 ++
750 Brazos (TX) River Au. Ref. Rev. (Reliant Energy, Inc.
Proj.), Ser. 1999 B, 7.75%, due 12/1/18 BBB- 834 ++
1,000 Brazos (TX) River Harbor Navigation Dist. of Brazoria Co. Env.
Fac. Rev. (Dow Chemical Co. Proj.), Ser. 2002 A-4, 5.20%, due
5/15/33 Putable 5/15/08 A3 A- 1,040 ++
500 Coshocton Co. (OH) Env. Imp. Ref. Rev. (Smurfit-Stone
Container Enterprises, Inc. Proj.), Ser. 2005, 5.13%, due
8/1/13 B 494 ++
1,590 Cumberland Co. (PA) West Shore Area Au. Hosp. Rev., (Holy
Spirit Hosp. of the Sisters of Christian Charity Proj.), Ser.
2001, 5.90%, due 1/1/17 BBB+ 1,715 ++
400 Dallas-Fort Worth (TX) Int'l. Arpt. Fac. Imp. Corp. Rev., Ser.
2004 A-1, 6.15%, due 1/1/16 Ba2 411 ++
1,000 De Kalb Co. (GA) Dev. Au. Ref. PCR (General Motors Corp.
Proj.), Ser. 2002, 6.00%, due 3/15/21 Baa3 BBB- 975 ++
SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JULY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
------------------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY @ RATING VALUE t
($000's omitted) Moody's S&P ($000's omitted)
1,000 Dutchess Co. (NY) IDA Civic Fac. Ref. Rev. (Marist College
Proj.), Ser. 2003 A, 5.15%, due 7/1/17 Baa1 1,062 ++
2,000 Dutchess Co. (NY) IDA Ind. Dev. Rev. (IBM Proj.), Ser. 1999,
5.45%, due 12/1/29 A1 A+ 2,149 ++
2,000 Long Island Pwr. Au. (NY) Elec. Sys. Gen. Rev., Ser. 1998 A,
5.50%, due 12/1/13 Aaa AAA 2,276
1,385 Lyons (NY) Comm. Hlth. Initiatives Corp. Fac. Rev., Ser. 2004,
5.50%, due 9/1/14 A2 1,517
500 Miami Beach (FL) Hlth. Fac. Au. Hosp. Ref. Rev. (Mount Sinai
Med. Ctr. of Florida Proj.), Ser. 2004, 6.25%, due 11/15/09 Ba2 BB+ 538 ++
980 Monroe Co. (NY) IDA Std. Hsg. Rev., (Collegiate Hsg.
Foundation - Rochester Institute of Technology Proj.), Ser.
1999 A, 5.25%, due 4/1/19 Baa3 994 ++
1,000 Monroe Co. (NY) Newpower Corp. Pwr. Fac. Rev., Ser. 2003,
5.10%, due 1/1/16 BBB+ 1,044
1,000 Monroe Co. (NY) Pub. Imp. Ref. G.O., Ser. 1996, 6.00%, due
3/1/13 Baa1 BBB 1,130
1,000 Morehouse Parish (LA) Ref. PCR (Int'l. Paper Co. Proj.),
Ser. 2001 A, 5.25%, due 11/15/13 Baa2 BBB 1,059 ++
1,000 New York City (NY) G.O., Ser. 1998 J, 5.00%, due 8/1/11 A1 A 1,055
1,000 New York City (NY) G.O., Ser. 2002 A, 5.75%, due 8/1/16 A1 A 1,114
750 New York City (NY) G.O., Ser. 2002 C, 5.50%, due 8/1/15 A1 A 824
4,000 New York City (NY) Hsg. Dev. Corp. Multi-Family Hsg. Rev.,
Ser. 2002 E-2, 5.05%, due 11/1/23 Aa2 AA 4,115
1,000 New York City (NY) IDA Civic Fac. Rev. (Lycee Francais de New
York Proj.), Ser. 2002 A, 5.50%, due 6/1/15 A 1,062 ++
1,030 New York City (NY) IDA Civic Fac. Rev. (Lycee Francais de New
York Proj.), Ser. 2002 A, 5.50%, due 6/1/17 A 1,088 ++
1,000 New York City (NY) IDA Ind. Dev. Rev. (Brooklyn Navy Yard
Cogeneration Partners, L.P. Proj.), Ser. 1997, 6.20%, due
10/1/22 Ba1 BBB- 1,056 ++
500 New York City (NY) IDA Ind. Dev. Rev. (Harlem Auto Mall Proj.),
Ser. 2004, 5.13%, due 12/30/23 Baa3 BBB- 435 ++
750 New York City (NY) Ind. Dev. Agcy. Liberty Rev. (7 World Trade
Center LLC Proj.), Ser. 2005 A, 6.25%, due 3/1/15 797 ^^
4,000 New York City (NY) Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev.,
Ser. 2002 D, 5.25%, due 6/15/15 Aa2 AA 4,360
3,000 New York City (NY) Trans. Fin. Au. Ref. Rev., Ser. 2002 B,
5.25%, due 2/1/29 Aa1 AA 3,237
800 New York Convention Ctr. Operating Corp. Cert. of
Participation (Yale Bldg. Acquisition Proj.), Ser. 2003,
5.25%, due 6/1/08 Aa1 813
2,000 New York St. Dorm. Au. Court Fac. Lease Rev. (New York City
Issue), Ser. 2003 A, 5.50%, due 5/15/17 A2 A 2,267
1,675 New York St. Dorm. Au. Insured Rev. (Long Island Univ.), Ser.
2003 A, 5.25%, due 9/1/15 AA 1,783 ++
3,000 New York St. Dorm. Au. Ref. Rev. (North Gen. Hosp. Proj.), Ser.
2003, 5.75%, due 2/15/17 AA- 3,380 ++
1,125 New York St. Dorm. Au. Rev. (City Univ. Sys. Proj.), Ser. 1995
A, 5.63%, due 7/1/16 A2 AA- 1,289
1,010 New York St. Dorm. Au. Rev. (Columbia Univ. Proj.), Ser. 2001
A, 5.25%, due 7/1/16 AAA 1,114 ++
2,985 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/14 Baa2 3,219 ++
2,000 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/16 Baa2 2,151 ++
2,000 New York St. Dorm. Au. Rev. (Mount Sinai NYU Hlth.), Ser.
2000 C, 5.50%, due 7/1/26 Ba1 BB 2,027
SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JULY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
------------------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY @ RATING VALUE t
($000's omitted) Moody's S&P ($000's omitted)
525 New York St. Dorm. Au. Rev. (New York Methodist Hosp.), Ser.
2004, 5.25%, due 7/1/18 A3 566
500 New York St. Dorm. Au. Rev. (North Shore-Long Island Jewish
Oblig. Group), Ser. 2003, 5.00%, due 5/1/18 A3 522 ++
2,855 New York St. Dorm. Au. Rev. (Rivington House Hlth. Care Fac.),
Ser. 2002, 5.25%, due 11/1/15 Aa1 3,085 ++
3,000 New York St. Dorm. Au. Rev. (SS Joachim & Anne Residence Proj.),
Ser. 2002, 4.60%, due 7/1/16 Aa3 3,034
250 New York St. Dorm. Au. Secured Hosp. Ref. Rev. (Brookdale Hosp.
Med. Ctr.), Ser. 1998 J, 5.20%, due 2/15/16 A2 AA- 262 ++
5,500 New York St. Dorm. Au. St. Personal Income Tax Rev., Ser. 2003
A, 5.38%, due 3/15/17 AA 6,176
500 New York St. Dorm. Au. Third Gen. Resolution Rev. (St. Univ.
Ed. Fac. Issue Proj.), Ser. 2002 B, 5.25%, due 11/15/23 A2 AA- 543
5,000 New York St. Energy Res. & Dev. Au. Fac. Rev. (Consolidated
Edison Co. of New York, Inc. Proj.), Ser. 2001 A, 4.70%, due
6/1/36 A1 A+ 5,004 ++
1,000 New York St. Env. Fac. Corp. Solid Waste Disp. Rev. (Waste
Management, Inc. Proj.), Ser. 2004 A, 4.45%, due 7/1/17 Putable
7/1/09 BBB 1,014
2,000 New York St. Mtge. Agcy. Homeowner Mtge. Rev., Ser. 1997-67,
5.70%, due 10/1/17 Aa1 2,071
2,000 New York St. Pwr. Au. Rev., Ser. 2002 A, 5.25%, due 11/15/16 Aa2 AA- 2,194
500 New York St. Urban Dev. Corp. Correctional & Youth Fac. Svc.
Rev., Ser. 2002 C, 4.00%, due 1/1/20 A2 A 509
1,325 New York St. Urban Dev. Corp. Proj. Ref. Rev. (Ctr. for Ind.
Innovation), Ser. 1995, 6.25%, due 1/1/09 A2 AA- 1,450
2,000 Niagara Co. (NY) IDA Civic Fac. Rev. (Niagara Univ. Proj.),
Ser. 2001 A, 5.50%, due 11/1/16 AA 2,176 ++
2,500 Niagara Co. (NY) IDA Solid Waste Disp. Fac. Ref. Rev.
(American Ref.-Fuel Co. of Niagara), Ser. 2001 C, 5.63%, due
11/15/24 Baa1 BBB 2,688 ++
915 Puerto Rico Children's Trust Tobacco Settlement Asset-Backed
Rev., Ser. 2002, 5.38%, due 5/15/33 Baa3 BBB 955
1,000 Santa Rosa (CA) Rancheria Tachi Yokut Tribe Enterprise
Rev., Ser. 2003, 6.13%, due 3/1/13 BBB 1,016
1,000 Tobacco Settlement Fin. Corp. (LA) Tobacco Settlement Asset-
Backed Rev., Ser. 2001 B, 5.50%, due 5/15/30 Baa3 BBB 1,043
3,000 Triborough Bridge & Tunnel Au. (NY) Gen. Purp. Ref. Rev., Ser.
2002 B, 5.25%, due 11/15/18 Aa3 AA- 3,270
500 United Nations (NY) Dev. Corp. Sr. Lien Ref. Rev., Ser. 2004 A,
5.25%, due 7/1/17 A3 522
500 Verrado (AZ) Comm. Fac. Dist. Number 1 G.O., Ser. 2003, 6.15%,
due 7/15/17 BB- 538
250 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (Hovensa
Refinery Proj.), Ser. 2003, 6.13%, due 7/1/22 Baa3 BBB- 272
750 Virgin Islands Pub. Fin. Au. Rev. (Sub. Lien/Cap. Proj.), Ser.
1998 E, 6.00%, due 10/1/22 BBB 775
1,000 Westchester Co. (NY) IDA Continuing Care Retirement Comm.
Rev. (Kendal on Hudson Proj.), Ser. 2003 B, 5.70%, due
1/1/34 BB 1,022 ++
1,000 Yonkers (NY) IDA Civic Fac. Rev. (Comm. Dev. Properties -
Yonkers, Inc.), Ser. 2001 A, 6.25%, due 2/1/16 Baa3 BBB- 1,123 ++
--------
100,396
--------
SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JULY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
------------------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY @ RATING VALUE t
($000's omitted) Moody's S&P ($000's omitted)
TAX-EXEMPT VARIABLE RATE DEMAND NOTES-BACKED BY LETTERS OF CREDIT (1.7%)
BANK OF NEW YORK
1,200 New York City (NY) G.O., Sub. Ser. 2004 H-4, 2.26%, VRDN due
8/1/05 VMIG1 A1+ 1,200
J.P. MORGAN CHASE
100 New York City (NY) G.O., Sub. Ser. 1993 E-2, 2.23%, VRDN due
8/1/05 VMIG1 A1+ 100
MORGAN GUARANTY TRUST CO.
130 New York City (NY) G.O., Sub. Ser. 1993 A-10, 2.23%, VRDN
due 8/1/05 VMIG1 A1+ 130
--------
1,430
--------
TAX-EXEMPT VARIABLE RATE DEMAND NOTES-OTHER (0.2%)
200 New York St. Env. Fac. Corp. Sewage & Solid Waste Disp. Rev.
(General Elec. Co. Proj.), Ser. 1997 A, 2.32%, VRDN due
8/1/05 P1 A1+ 200 ++
--------
TOTAL INVESTMENTS (157.6%) (COST $126,385) 130,062 ##
Cash, receivables and other assets, less liabilities (0.9%) 694
Liquidation Value of Auction Preferred Shares [(58.5%)] (48,250)
--------
TOTAL NET ASSETS APPLICABLE TO COMMON
SHAREHOLDERS (100.0%) $82,506
--------
SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JULY 31, 2005 (UNAUDITED)
NOTES TO SCHEDULE OF INVESTMENTS
--------------------------------
t Investments in securities by Neuberger Berman California Intermediate
Municipal Fund Inc. ("California"), Neuberger Berman Intermediate Municipal
Fund Inc. ("Intermediate"), and Neuberger Berman New York Intermediate
Municipal Fund Inc. ("New York") (individually a "Fund", collectively, the
"Funds") are valued daily by obtaining bid price quotations from
independent pricing services on all securities available in each service's
data base. For all other securities requiring daily quotations, bid prices
are obtained from principal market makers in those securities or, if
quotations are not available, by a method the Funds' Board of Directors
believes accurately reflects fair value. Numerous factors may be considered
when determining the fair value of a security, including available analyst,
media or other reports, trading in futures or ADRs and whether the issuer
of the security being fair valued has other securities outstanding.
Short-term debt securities with less than 60 days until maturity may be
valued at cost which, when combined with interest earned, approximates
market value.
## At July 31, 2005, selected Fund information on a U.S. Federal income tax
basis was as follows:
GROSS GROSS NET
UNREALIZED UNREALIZED UNREALIZED
(000'S OMITTED) COST APPRECIATION DEPRECIATION APPRECIATION
CALIFORNIA $156,778 $4,953 $39 $4,914
INTERMEDIATE 470,217 16,782 329 16,453
NEW YORK 126,385 3,795 118 3,677
@ At time of investment, municipal securities purchased by the Funds are
within the four highest rating categories (with respect to at least 80% of
total assets) assigned by a nationally recognized statistical rating
organization ("NRSRO") such as Moody's Investors Service, Inc., Standard &
Poor's, or Fitch Investors Services, Inc. or, where not rated, are
determined by the Funds' investment manager to be of comparable quality.
Approximately 79%, 74%, and 56% of the municipal securities held by
California, Intermediate, and New York, respectively, have credit
enhancement features backing them, which the Funds may rely on, such as
letters of credit, insurance, or guarantees. Without these credit
enhancement features the securities may or may not meet the quality
standards of the Funds. Pre-refunded bonds are supported by securities in
escrow issued or guaranteed by the U.S. Government, its agencies, or
instrumentalities. The amount escrowed is sufficient to pay the periodic
interest due and the principal of these bonds. Putable bonds give the Funds
the right to sell back the issue on the date specified.
++ Security is guaranteed by the corporate or non-profit obligor.
** Security exempt from registration under the Securities Act of 1933. These
securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers under Rule 144A, and are deemed liquid.
At July 31, 2005, these securities amounted to $4,510,000 or 1.45% of net
assets for Intermediate.
^^ Not rated by a nationally recognized statistical rating organization.
For more information on the Funds' significant accounting policies, please refer
to the Funds' most recent semi-annual financial statements.
ITEM 2. CONTROLS AND PROCEDURES.
(a) Based on an evaluation of the disclosure controls and procedures (as
defined in rule 30a-3(c) under the Act) as of a date within 90 days of the
filing date of this document, the Chief Executive Officer and Treasurer and
Principal Financial and Accounting Officer of the Registrant have concluded
that such disclosure controls and procedures are effectively designed to
ensure that information required to be disclosed by the Registrant is
accumulated and communicated to the Registrant's management to allow timely
decisions regarding required disclosure.
(b) There were no significant changes in the Registrant's internal controls
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
The certifications required by Rule 30a-2(a) of the 1940 Act are attached
hereto.
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.
Neuberger Berman New York Intermediate Municipal Fund Inc.
By: /s/ Peter E. Sundman
------------------------------------
Peter E. Sundman
Chief Executive Officer
Date: September 28, 2005
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/ Peter E. Sundman
------------------------------------
Peter E. Sundman
Chief Executive Officer
Date: September 28, 2005
By: /s/ John M. McGovern
------------------------------------
John M. McGovern
Treasurer and Principal Financial
and Accounting Officer
Date: September 28, 2005