As filed with the Securities and Exchange Commission on April 1, 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 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: January 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, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
NEUBERGER BERMAN JANUARY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc.
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PRINCIPAL AMOUNT SECURITY @ RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
TAX-EXEMPT SECURITIES-BACKED BY INSURANCE (34.3%)
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 1,122 ++
AMERICAN MUNICIPAL BOND ASSURANCE CORP.
2,000 Metro. Trans. Au. (NY) Ref. Rev., Ser. 2002 A, 5.50%, due
11/15/15 AAA 2,271
2,920 New York City (NY) IDA Civic Fac. Rev. (Packer Collegiate
Institute Proj.), Ser. 2002, 5.00%, due 6/1/22 Aaa AAA 3,142++
960 New York City (NY) Muni. Wtr. Fin. Au. Wtr. & Swr. Sys.
Rev., Ser. 1992 A, 5.88%, due 6/15/13 Aaa 1,130
2,025 New York City (NY) Trans. Fin. Au. Ref. Rev., Ser. 2002 C,
5.25%, due 8/1/17 AAA 2,248
2,410 New York St. Dorm. Au. Rev. (Rochester Institute of
Technology Proj.), Ser. 2002 A, 5.25%, due 7/1/19 Aaa 2,647++
3,000 Port Authority of NY & NJ Rev., Ser. 2002, 5.50%,
due 12/15/12 AAA 3,390
1,535 Ulster Co. (NY) Res. Rec. Agcy. Solid Waste Sys. Ref. Rev.,
Ser. 2002, 5.25%, due 3/1/16 AAA 1,685
FINANCIAL GUARANTY INSURANCE CO.
2,505 Metro. Trans. Au. (NY) Dedicated Tax Fund Rev., Ser. 2001 A,
5.25%, due 11/15/14 AAA 2,794
FINANCIAL SECURITY ASSURANCE INC.
500 Long Island (NY) Pwr. Au. Elec. Sys. Rev., Ser. 1998 A,
5.13%, due 12/1/16 Aaa AAA 539
1,410 New York City (NY) Hlth. & Hosp. Corp. Rev., Ser. 2002 A,
5.50%, due 2/15/13 AAA 1,592
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 2,087++
1,600 New York St. Dorm. Au. Insured Rev. (The Culinary
Institute of America), Ser. 1999, 5.38%, due 7/1/15 AAA 1,779++
1,980 New York St. Dorm. Au. Rev. (New York Med. College Proj.),
Ser. 1998, 5.00%, due 7/1/21 Aaa AAA 2,118++
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28,544
------------
TAX-EXEMPT SECURITIES-OTHER (121.1%)
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 3,247
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 929++
750 Brazos (TX) River Au. Ref. Rev. (Reliant Energy, Inc.
Proj.), Ser. 1999 B, 7.75%, due 12/1/18 Ba1 BBB- 832++
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 1,063++
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+ 1,721++
400 Dallas-Fort Worth (TX) Int'l. Arpt. Fac. Imp. Corp. Rev.,
Ser. 2004 A-1, 6.15%, due 1/1/16 Baa3 BBB- 400++
1,000 De Kalb Co. (GA) Dev. Au. Ref. PCR (General Motors Corp.
Proj.), Ser. 2002, 6.00%, due 3/15/21 A3 BBB 1,078++
1,000 Dutchess Co. (NY) IDA Civic Fac. Ref. Rev. (Marist College
Proj.), Ser. 2003 A, 5.15%, due 7/1/17 Baa1 1,068++
SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JANUARY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
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PRINCIPAL AMOUNT SECURITY @ RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
2,000 Dutchess Co. (NY) IDA Ind. Dev. Rev. (IBM Proj.), Ser. 1999,
5.45%, due 12/1/29 A1 A+ 2,188++
2,000 Long Island Pwr. Au. (NY) Elec. Sys. Gen. Rev., Ser. 1998 A,
5.50%, due 12/1/13 Aaa AAA 2,313
1,500 Lyons (NY) Comm. Hlth. Initiatives Corp. Fac. Rev., Ser.
2004, 5.50%, due 9/1/14 A2 1,649
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 515++
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 982++
1,000 Monroe Co. (NY) Newpower Corp. Pwr. Fac. Rev.,Ser. 2003,
5.10%, due 1/1/16 BBB+ 1,065
1,000 Monroe Co. (NY) Pub. Imp. Ref. G.O., Ser. 1996, 6.00%, due
3/1/13 A3 AA- 1,160
1,000 Morehouse Parish (LA) Ref. PCR (Int'l. Paper Co. Proj.),
Ser. 2001 A, 5.25%, due 11/15/13 Baa2 BBB 1,084++
1,000 New York City (NY) G.O., Ser. 1998 J, 5.00%, due 8/1/11 A2 A 1,060
1,000 New York City (NY) G.O., Ser. 2002 A, 5.75%, due 8/1/16 A2 A 1,129
750 New York City (NY) G.O., Ser. 2002 C, 5.50%, due 8/1/15 A2 834
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 4,121
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 1,081++
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 1,105++
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- 1,013++
500 New York City (NY) IDA Ind. Dev. Rev. (Harlem Auto Mall
Proj.), Ser. 2004, 5.13%, due 12/30/23 Baa1 BBB 508++
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 4,432
3,000 New York City (NY) Trans. Fin. Au. Ref. Rev., Ser. 2002 B,
5.25%, due 2/1/29 Aa2 3,287
800 New York Convention Ctr. Operating Corp. Cert. of
Participation (Yale Bldg. Acquisition Proj.), Ser. 2003,
5.25%, due 6/1/08 Aa1 826
2,000 New York St. Dorm. Au. Court Fac. Lease Rev. (New York City
Issue), Ser. 2003 A, 5.50%, due 5/15/17 A3 A 2,220
1,675 New York St. Dorm. Au. Insured Rev. (Long Island Univ.),
Ser. 2003 A, 5.25%, due 9/1/15 AA 1,833++
3,000 New York St. Dorm. Au. Ref. Rev. (North Gen. Hosp. Proj.),
Ser. 2003, 5.75%, due 2/15/17 AA- 3,384++
1,125 New York St. Dorm. Au. Rev. (City Univ. Sys. Proj.), Ser.
1995 A, 5.63%, due 7/1/16 A3 AA- 1,306
1,010 New York St. Dorm. Au. Rev. (Columbia Univ. Proj.), Ser.
2001 A, 5.25%, due 7/1/16 AAA 1,122++
2,985 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/14 A3 3,243++
2,000 New York St. Dorm. Au. Rev. (Lenox Hill Hosp. Oblig. Group
Proj.), Ser. 2001, 5.75%, due 7/1/16 A3 A- 2,168++
2,500 New York St. Dorm. Au. Rev. (Mount Sinai NYU Hlth. Oblig.
Group), Ser. 2000 B, 6.25%, due 7/1/22 Baa3 2,503++
525 New York St. Dorm. Au. Rev. (New York Methodist Hosp.), Ser.
2004, 5.25%, due 7/1/18 A3 570
500 New York St. Dorm. Au. Rev. (North Shore-Long Island
Jewish Oblig. Group), Ser. 2003, 5.00%, due 5/1/18 A3 523++
SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JANUARY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
------------------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY @ RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
2,855 New York St. Dorm. Au. Rev. (Rivington House Hlth. Care
Fac.), Ser. 2002, 5.25%, due 11/1/15 Aa1 3,150++
3,000 New York St. Dorm. Au. Rev. (SS Joachim & Anne Residence
Proj.), Ser. 2002, 4.60%, due 7/1/16 Aa3 3,096
250 New York St. Dorm. Au. Secured Hosp. Ref. Rev. (Brookdale
Hosp. Med. Ctr.), Ser. 1998 J, 5.20%, due 2/15/16 A3 AA- 263++
5,500 New York St. Dorm. Au. St. Personal Income Tax Rev., Ser.
2003 A, 5.38%, due 3/15/17 AA 6,133
1,000 New York St. Dorm. Au. Third Gen. Resolution Rev. (St. Univ.
Ed. Fac. Issue Proj.), Ser. 2002 B, 5.25%, due 11/15/23 A3 AA- 1,103
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+ 5,026++
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 1,026
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- 2,230
500 New York St. Urban Dev. Corp. Correctional & Youth Fac. Svc.
Rev., Ser. 2002 C, 4.00%, due 1/1/20 AA- 514
1,325 New York St. Urban Dev. Corp. Proj. Ref. Rev. (Ctr. for Ind.
Innovation), Ser. 1995, 6.25%, due 1/1/09 A3 AA- 1,487
2,000 Niagara Co. (NY) IDA Civic Fac. Rev. (Niagara Univ. Proj.),
Ser. 2001 A, 5.50%, due 11/1/16 AA 2,189++
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 2,690++
940 Puerto Rico Children's Trust Tobacco Settlement Asset-Backed
Rev., Ser. 2002, 5.38%, due 5/15/33 Baa3 BBB 917
1,000 Santa Rosa (CA) Rancheria Tachi Yokut Tribe Enterprise Rev.,
Ser. 2003, 6.13%, due 3/1/13 BBB 1,005
1,000 Tobacco Settlement Fin. Corp. (LA) Tobacco Settlement
Asset-Backed Rev., Ser. 2001 B, 5.50%, due 5/15/30 Baa3 BBB 958
3,000 Triborough Bridge & Tunnel Au. (NY) Gen. Purp. Ref. Rev.,
Ser. 2002 B, 5.25%, due 11/15/18 Aa3 AA- 3,334
500 United Nations (NY) Dev. Corp. Sr. Lien Ref. Rev., Ser. 2004
A, 5.25%, due 7/1/17 A3 526
500 Verrado (AZ) Comm. Fac. Dist. Number 1 G.O., Ser. 2003,
6.15%, due 7/15/17 BB- 511
250 Virgin Islands Pub. Fin. Au. Refinery Fac. Rev. (Hovensa
Refinery Proj.), Ser. 2003, 6.13%, due 7/1/22 Baa3 BBB- 269
750 Virgin Islands Pub. Fin. Au. Rev. (Sub. Lien/Cap. Proj.),
Ser. 1998 E, 6.00%, due 10/1/22 BBB 772
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 1,028++
1,000 Yonkers (NY) IDA Civic Fac. Rev. (Comm. Dev. Properties -
Yonkers, Inc.), Ser. 2001 A, 6.25%, due 2/1/16 Baa3 BBB- 1,094++
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100,954
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TAX-EXEMPT VARIABLE RATE DEMAND NOTES-BACKED BY LETTERS OF CREDIT (1.1%)
BAYERISCHE LANDESBANK GIROZENTRALE
400 New York Job Dev. Au. Spec. Purp. Rev., Ser. 1989
B-1-B-21, 1.66%, VRDN due 2/1/05 VMIG1 A-1+ 400
MORGAN GUARANTY TRUST CO.
200 New York City (NY) G.O., Sub. Ser. 1993 E-2, 1.61%, VRDN due
SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JANUARY 31, 2005 (UNAUDITED)
SCHEDULE OF INVESTMENTS New York Intermediate Municipal Fund Inc. cont'd
------------------------------------------------------------------------
PRINCIPAL AMOUNT SECURITY @ RATING VALUE(+)
($000's omitted) Moody's S&P ($000's omitted)
2/1/05 VMIG1 A-1+ 200
STATE STREET BANK
300 New York City (NY) G.O., Sub. Ser. 1993 E-4, 1.68%, VRDN due
2/1/05 VMIG1 A-1+ 300
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900
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TOTAL INVESTMENTS (156.5%) (Cost $125,830) 130,398##
Cash, receivables and other assets, less liabilities (1.4%) 1,188
Liquidation Value of Auction Market Preferred Shares [(57.9%)] (48,250)
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TOTAL NET ASSETS APPLICABLE TO COMMON
SHAREHOLDERS (100.0%) $83,336
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SEE NOTES TO SCHEDULE OF INVESTMENTS
NEUBERGER BERMAN JANUARY 31, 2005 (UNAUDITED)
NOTES TO SCHEDULE OF INVESTMENTS
+ 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
Board of Directors of California, Intermediate, and New York, 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 January 31, 2005, selected Fund information on a U.S. Federal income
tax basis was as follows:
GROSS GROSS NET
(000'S OMITTED) UNREALIZED UNREALIZED UNREALIZED
NEUBERGER BERMAN COST APPRECIATION DEPRECIATION APPRECIATION
CALIFORNIA $153,945 $ 6,385 $ 0 $ 6,385
INTERMEDIATE 469,025 20,602 209 20,393
NEW YORK 125,830 4,593 25 4,568
@ 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%, 73%, 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 January 31, 2005, these securities amounted to
$4,570,048 or 1.45% of net assets for Intermediate.
^^ Not rated by a nationally recognized statistical rating organization.
For information on the Funds' significant accounting policies, please refer to
the Funds' most recent 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: March 30, 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: March 30, 2005
By: /s/John McGovern
----------------------
John McGovern
Acting Treasurer and Principal Financial
and Accounting Officer
Date: March 30, 2005