As filed with the Securities and Exchange Commission on March 27, 2019
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: 811-21169
NEUBERGER BERMAN NEW YORK MUNICIPAL FUND INC.
(Exact Name of Registrant as Specified in Charter)
c/o Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
 New York, New York 10104-0002
(Address of Principal Executive Offices – Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Joseph V. Amato, Chief Executive Officer and President
Neuberger Berman New York Municipal Fund Inc.
c/o Neuberger Berman Investment Advisers LLC
1290 Avenue of the Americas
 New York, New York 10104-0002
Arthur C. Delibert, Esq.
K&L Gates LLP
1601 K Street, N.W.
Washington, D.C. 20006-1600
(Names and Addresses of Agents for Service)
Date of fiscal year end:  October 31
Date of reporting period:  January 31, 2019
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), 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 the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments.
Schedule of Investments New York Municipal Fund Inc.^
(Unaudited) January 31, 2019
 
 
Principal
Amount
    
Value†
(000's omitted)
    
(000's omitted)
 
Municipal Notes 166.8%
 
American Samoa 0.7%
 
$
500
  
American Samoa Econ. Dev. Au. Gen. Rev. Ref., Ser. 2015-A, 6.25%, due 9/1/29
$
497
  
 
California 6.4%
   
250
  
California St. Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev. (Aemerge Redpak Svcs. So. California LLC Proj.), Ser. 2016, 7.00%, due 12/1/27
  
241
(a)(b)
   
345
  
California St. Poll. Ctrl. Fin. Au. Solid Waste Disp. Rev. (Green Bond-Rialto Bioenergy Fac. LLC, Proj.), Ser. 2019, 7.50%, due 12/1/40
  
329
(a)
   
3,115
  
Corona-Norca Unified Sch. Dist. G.O. Cap. Appreciation (Election 2006), Ser. 2009-C, (AGM Insured), 0.00%, due 8/1/24
  
2,776
  
   
1,000
  
Pico Rivera Pub. Fin. Au. Lease Rev., Ser. 2009, 4.75%, due 9/1/25 Pre-Refunded 9/1/19
  
1,019
  
 
4,365
  
Georgia 0.7%
   
500
  
Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25
  
466
(a)(b)
 
Guam 3.2%
   
1,135
  
Guam Gov't Hotel Occupancy Tax Rev., Ser. 2011-A, 5.50%, due 11/1/19
  
1,158
  
   
1,000
  
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25 Pre-Refunded 7/1/20
  
1,049
  
 
2,207
  
Illinois 1.5%
   
1,000
  
Chicago G.O. Ref., Ser. 2003-B, 5.00%, due 1/1/23
  
1,056
  
 
Louisiana 0.8%
   
500
  
Louisiana St. Pub. Facs. Au. Rev. (Southwest Louisiana Charter Academy Foundation Proj.), Ser. 2013-A, 7.63%, due 12/15/28
  
526
  
 
Nevada 1.5%
   
1,000
  
Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23 Pre-Refunded 6/15/19
  
1,021
  
 
New York 147.3%
       
Albany Cap. Res. Corp. Ref. Rev. (Albany College of Pharmacy & Hlth. Sciences)
      
   
380
  
Ser. 2014-A, 5.00%, due 12/1/27
  
425
  
   
375
  
Ser. 2014-A, 5.00%, due 12/1/28
  
418
  
   
270
  
Ser. 2014-A, 5.00%, due 12/1/29
  
300
  
   
500
  
Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. (Tapestry Charter Sch. Proj.), Ser. 2017-A, 5.00%, due 8/1/47
  
515
  
   
1,325
  
Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. Ref. (Charter Sch. for Applied Technologies Proj.), Ser. 2017-A, 5.00%, due 6/1/35
  
1,415
  
       
Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. Ref. (Orchard Park)
      
   
500
  
Ser. 2015, 5.00%, due 11/15/27
  
542
  
   
500
  
Ser. 2015, 5.00%, due 11/15/28
  
540
  
       
Build NYC Res. Corp. Ref. Rev. (City Univ. - Queens College)
      
   
270
  
Ser. 2014-A, 5.00%, due 6/1/26
  
314
  
   
225
  
Ser. 2014-A, 5.00%, due 6/1/29
  
257
  
       
Build NYC Res. Corp. Ref. Rev. (Methodist Hosp. Proj.)
      
   
250
  
Ser. 2014, 5.00%, due 7/1/22
  
274
  
   
500
  
Ser. 2014, 5.00%, due 7/1/29
  
558
  
   
250
  
Build NYC Res. Corp. Ref. Rev. (New York Law Sch. Proj.), Ser. 2016, 4.00%, due 7/1/45
  
230
  
       
Build NYC Res. Corp. Ref. Rev. (Packer Collegiate Institute Proj.)
      
   
155
  
Ser. 2015, 5.00%, due 6/1/26
  
179
  
   
125
  
Ser. 2015, 5.00%, due 6/1/27
  
144
  
   
195
  
Ser. 2015, 5.00%, due 6/1/28
  
224
  
   
220
  
Ser. 2015, 5.00%, due 6/1/29
  
252
  
   
325
  
Ser. 2015, 5.00%, due 6/1/30
  
371
  
   
565
  
Build NYC Res. Corp. Rev., Ser. 2014, 5.00%, due 11/1/24
  
588
  
   
750
  
Build NYC Res. Corp. Rev. (Met Lighthouse Charter Sch. Proj.), Ser. 2017-A, 5.00%, due 6/1/47
  
765
(a)
 
 
500
  
Build NYC Res. Corp. Rev. (South Bronx Charter Sch. Int'l Cultures), Ser. 2013-A, 3.88%, due 4/15/23
 
504
  
       
Build NYC Res. Corp. Solid Waste Disp. Ref. Rev. (Pratt Paper, Inc. Proj.)
      
   
100
  
Ser. 2014, 3.75%, due 1/1/20
  
101
(a)
   
200
  
Ser. 2014, 4.50%, due 1/1/25
  
215
(a)
       
Dutchess Co. Local Dev. Corp. Rev. (Culinary Institute of America Proj.)
      
   
200
  
Ser. 2016-A-1, 5.00%, due 7/1/41
  
216
  
   
275
  
Ser. 2016-A-1, 5.00%, due 7/1/46
  
296
  
   
1,000
  
Dutchess Co. Local Dev. Corp. Rev. (Marist College Proj.), Ser. 2012-A, 5.00%, due 7/1/21
  
1,077
  
   
1,050
  
Erie Co. IDA Sch. Fac. Rev. (Buffalo City Sch. Dist.), Ser. 2009-A, 5.25%, due 5/1/25 Pre-Refunded 5/1/19
  
1,059
  
   
1,270
  
Geneva Dev. Corp. Rev. (Hobart & William Smith College Proj.), Ser. 2012, 5.00%, due 9/1/21
  
1,371
  
       
Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.)
      
   
1,500
  
Ser. 2009, 5.75%, due 7/1/23 Pre-Refunded 7/1/19
  
1,525
  
   
405
  
Ser. 2018, 5.00%, due 7/1/31
  
457
  
   
425
  
Ser. 2018, 5.00%, due 7/1/32
  
478
  
   
450
  
Ser. 2018, 5.00%, due 7/1/33
  
503
  
   
580
  
Islip, G.O., Ser. 2012, 3.00%, due 8/1/25
  
597
  
   
245
  
Jefferson Co. IDA Solid Waste Disp. Rev. (Green Bond), Ser. 2014, 4.75%, due 1/1/20
  
243
(a)
   
300
  
Monroe Co. Ind. Dev. Corp. Rev. (Monroe Comm. College), Ser. 2014, (AGM Insured), 5.00%, due 1/15/29
  
334
  
       
Monroe Co. Ind. Dev. Corp. Rev. (Nazareth College of Rochester Proj.)
      
   
500
  
Ser. 2013-A, 5.00%, due 10/1/24
  
555
  
   
500
  
Ser. 2013-A, 5.00%, due 10/1/25
  
552
  
   
250
  
Ser. 2013-A, 4.00%, due 10/1/26
  
263
  
       
Monroe Co. Ind. Dev. Corp. Rev. (St. John Fisher College)
      
   
1,120
  
Ser. 2012-A, 5.00%, due 6/1/23
  
1,227
  
   
210
  
Ser. 2012-A, 5.00%, due 6/1/25
  
229
  
   
1,265
  
Montgomery Co. Cap. Res. Corp. Lease Ref. Rev. (HFM Boces Proj.), Ser. 2014, (MAC Insured), 5.00%, due 9/1/27
  
1,446
  
   
500
  
MTA Hudson Rail Yards Trust Oblig. Rev., Ser. 2016-A, 5.00%, due 11/15/46
  
509
  
   
2,000
  
Nassau Co. G.O. (Gen. Imp. Bonds), Ser. 2013-B, 5.00%, due 4/1/28 Pre-Refunded 4/1/23
  
2,268
  
   
800
  
Nassau Co. IDA Rev. Ref. & Impt. (Cold Spring Harbor Laboratory), Ser. 1999, (LOC: TD Bank N.A.), 1.50%, due 1/1/34
  
800
(c)
       
Nassau Co. Local Econ. Assist. Corp. Rev. (Catholic Hlth. Svcs. of Long Island Obligated Group Proj.)
      
   
500
  
Ser. 2014, 5.00%, due 7/1/23
  
558
  
   
1,000
  
Ser. 2014, 5.00%, due 7/1/27
  
1,120
  
   
4,175
  
Nassau Co. Tobacco Settlement Corp. Asset Backed, Ser. 2006-A-3, 5.13%, due 6/1/46
  
3,927
  
       
New York City G.O.
      
   
1,000
  
Ser. 2009-E, 5.00%, due 8/1/21
  
1,016
  
   
950
  
Ser. 2009-B, 5.00%, due 8/1/22
  
965
  
   
1,300
  
New York City Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev. Second Gen., Ser. 2010-DD-3A, (LOC: U.S. Bank), 1.63%, due 6/15/43
  
1,300
(c)
   
100
  
New York City Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev. Second Gen. Resolution Fiscal 2014), Ser. 2013-AA-3, (LOC: TD Bank N.A.), 1.62%, due 6/15/49
  
100
(c)
   
500
  
New York Liberty Dev. Corp. Ref. Rev. (3 World Trade Ctr. Proj.), Ser. 2014, 5.38%, due 11/15/40
  
529
(a)
   
2,000
  
New York Liberty Dev. Corp. Rev. (Goldman Sachs Headquarters), Ser. 2005, 5.25%, due 10/1/35
  
2,442
  
   
1,815
  
New York St. Dorm. Au. Ref. Rev. Non St. Supported Debt (Pratt Institute), Ser. 2015-A, 3.00%, due 7/1/27
  
1,873
  
   
780
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (Culinary Institute of America), Ser. 2013, 4.63%, due 7/1/25
  
850
  
   
500
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (Manhattan Marymount College), Ser. 2009, 5.00%, due 7/1/24
  
506
  
 
 
1,595
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (Mount Sinai Sch. of Medicine), Ser. 2009, 5.25%, due 7/1/24 Pre-Refunded 7/1/19
 
1,618
  
   
2,000
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (North Shore-Long Island Jewish Oblig. Group), Ser. 2011-A, 4.38%, due 5/1/26 Pre-Refunded 5/1/21
  
2,120
  
   
1,375
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (Rochester Institute of Technology), Ser. 2012, 4.00%, due 7/1/28
  
1,455
  
   
2,000
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (St. John's Univ.), Ser. 2007-C, (National Public Finance Guarantee Corp. Insured), 5.25%, due 7/1/19
  
2,029
  
   
600
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (St. Joseph's College), Ser. 2010, 5.25%, due 7/1/25
  
601
  
   
2,540
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (St. Univ. Dorm. Fac.), Ser. 2018-A, 5.00%, due 7/1/48
  
2,877
  
       
New York St. Dorm. Au. Rev. Non St. Supported Debt (Touro College & Univ. Sys. Obligated Group)
      
   
460
  
Ser. 2014-A, 4.00%, due 1/1/26
  
463
  
   
470
  
Ser. 2014-A, 4.00%, due 1/1/27
  
470
  
   
200
  
Ser. 2014-A, 4.00%, due 1/1/28
  
199
  
   
275
  
Ser. 2014-A, 4.13%, due 1/1/29
  
274
  
   
1,350
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (Univ. Facs.), Ser. 2013-A, 5.00%, due 7/1/28
  
1,514
  
   
750
  
New York St. Dorm. Au. Rev. Non St. Supported Debt (Vaughn College of Aeronautics & Technology), Ser. 2016, 5.00%, due 12/1/26
  
781
(a)
   
1,500
  
New York St. Dorm. Au. Rev. Ref. Non St. Supported Debt (Montefiore Oblig. Group), Ser. 2018-A, 5.00%, due 8/1/35
  
1,691
  
       
New York St. Dorm. Au. Rev. Ref. Non St. Supported Debt (Orange Reg. Med. Ctr.)
      
   
400
  
Ser. 2017, 5.00%, due 12/1/35
  
441
(a)
   
200
  
Ser. 2017, 5.00%, due 12/1/36
  
219
(a)
   
400
  
Ser. 2017, 5.00%, due 12/1/37
  
437
(a)
   
2,000
  
New York St. Dorm. Au. Rev. St. Personal Income Tax Rev., Ser. 2012-A, 5.00%, due 12/15/26
  
2,227
  
   
2,000
  
New York St. Env. Facs. Corp. (St. Clean Wtr. & Drinking), Ser. 2012-A, 4.00%, due 6/15/26
  
2,146
  
       
New York St. HFA Rev. (Affordable Hsg.)
      
   
1,615
  
Ser. 2009-B, 4.50%, due 11/1/29
  
1,621
  
   
960
  
Ser. 2012-F, (SONYMA Insured), 3.05%, due 11/1/27
  
974
  
   
1,045
  
New York St. Mtge. Agcy. Homeowner Mtge. Ref. Rev., Ser. 2014-189, 3.45%, due 4/1/27
  
1,070
  
       
New York St. Muni. Bond Bank Agcy.
      
   
1,230
  
Subser. 2009-B1, 5.00%, due 12/15/23
  
1,264
  
   
1,295
  
Subser. 2009-B1, 5.00%, due 12/15/24
  
1,331
  
   
1,090
  
New York St. Thruway Au. Second Gen. Hwy. & Bridge Trust Fund Bonds, Ser. 2009-B, 5.00%, due 4/1/19
  
1,096
  
   
1,500
  
New York St. Trans. Dev. Corp. Spec. Fac. Ref. Rev. (American Airlines, Inc.-John F Kennedy Int'l Arpt. Proj.), Ser. 2016, 5.00%, due 8/1/31
  
1,555
  
   
2,000
  
New York St. Trans. Dev. Corp. Spec. Fac. Rev. (Delta Airlines, Inc.-LaGuardia Arpt. Term. C&D Redev.), Ser. 2018, 5.00%, due 1/1/33
  
2,251
  
   
1,545
  
New York St. Trans. Dev. Corp. Spec. Fac. Rev. (LaGuardia Arpt. Term. B Redev. Proj.), Ser. 2016-A, 4.00%, due 7/1/41
  
1,534
  
   
785
  
Newburgh, G.O., Ser. 2012-A, 5.00%, due 6/15/22
  
855
  
       
Niagara Area Dev. Corp. Rev. (Niagara Univ. Proj.)
      
   
640
  
Ser. 2012-A, 5.00%, due 5/1/25
  
701
  
   
300
  
Ser. 2012-A, 5.00%, due 5/1/26
  
328
  
   
1,000
  
Niagara Area Dev. Corp. Solid Waste Disp. Fac. Rev. Ref. (Covanta Proj.), Ser. 2018-A, 4.75%, due 11/1/42
  
971
(a)
   
1,100
  
Niagara Falls City Sch. Dist. Ref. Cert. Participation (High Sch. Fac.), Ser. 2015, (AGM Insured), 4.00%, due 6/15/26
  
1,181
  
   
1,010
  
Onondaga Civic Dev. Corp. Ref. Rev., Ser. 2015, 5.00%, due 10/1/29
  
1,121
  
   
500
  
Onondaga Civic Dev. Corp. Rev. (St. Joseph’s Hosp. Hlth. Ctr. Proj.), Ser. 2014-A, 5.00%, due 7/1/25 Pre-Refunded 7/1/19
  
507
  
 
 
1,000
  
Onondaga Co. Trust Cultural Res. Rev. (Syracuse Univ. Proj.), Ser. 2010-B, 5.00%, due 12/1/19
 
1,028
  
   
1,500
  
Oyster Bay, G.O., Ser. 2014, (AGM Insured), 3.25%, due 8/1/21
  
1,542
  
   
500
  
Port Au. New York & New Jersey Cons. Bonds Rev. Ref. (Two Hundred -Third), Ser. 2017, 5.00%, due 4/15/57
  
558
  
   
1,410
  
St. Lawrence Co. IDA Civic Dev. Corp. Rev. (St. Lawrence Univ. Proj.), Ser. 2012, 5.00%, due 7/1/28
  
1,553
  
   
1,980
  
Suffolk Co. Judicial Facs. Agcy. Lease Rev. (H. Lee Dennison Bldg.), Ser. 2013, 5.00%, due 11/1/25
  
2,188
  
   
1,000
  
Syracuse IDA (Carousel Ctr. Proj.), Ser. 2016-A, 5.00%, due 1/1/31
  
1,096
  
   
165
  
Triborough Bridge & Tunnel Au. Oblig., Ser. 1998-A, (National Public Finance Guarantee Corp. Insured), 4.75%, due 1/1/24
  
170
  
       
TSASC Inc. Rev. Ref.
      
   
580
  
Ser. 2017-A, 5.00%, due 6/1/28
  
658
  
   
3,000
  
Ser. 2017-A, 5.00%, due 6/1/41
  
3,101
  
   
1,405
  
United Nations Dev. Corp. Rev., Ser. 2009-A, 5.00%, due 7/1/22
  
1,423
  
   
3,000
  
Utility Debt Securitization Au. Rev., Ser. 2013-TE, 5.00%, due 12/15/28
  
3,415
  
   
1,000
  
Westchester Co. Local Dev. Corp. Ref. Rev. (Wartburg Sr. Hsg. Proj.), Ser. 2015-A, 5.00%, due 6/1/30
  
1,005
(a)
       
Westchester Co. Local Dev. Corp. Ref. Rev. (Westchester Med. Ctr.)
      
   
825
  
Ser. 2016, 5.00%, due 11/1/30
  
920
  
   
1,000
  
Ser. 2016, 3.75%, due 11/1/37
  
960
  
   
1,350
  
Westchester Co. Local Dev. Corp. Rev. (Kendal on Hudson Proj.), Ser. 2013, 5.00%, due 1/1/28
  
1,433
  
 
101,294
  
Ohio 0.7%
   
500
  
Buckeye Tobacco Settlement Fin. Au. Asset-Backed Sr. Rev. (Turbo), Ser. 2007-A-2, 5.88%, due 6/1/47
  
464
  
 
Pennsylvania 3.1%
       
Pennsylvania St. Turnpike Commission Rev.
      
   
285
  
Ser. 2010-B2, 6.00%, due 12/1/34 Pre-Refunded 12/1/20
  
307
  
   
305
  
Subser. 2010-B2, 6.00%, due 12/1/34 Pre-Refunded 12/1/20
  
328
  
   
1,410
  
Subser. 2010-B2, 6.00%, due 12/1/34 Pre-Refunded 12/1/20
  
1,518
  
 
2,153
  
Texas 0.9%
   
400
  
Mission Econ. Dev. Corp. Wtr. Supply Rev. (Green Bond-Env. Wtr. Minerals Proj.), Ser. 2015, 7.75%, due 1/1/45
  
320
(a)(b)(d)
   
325
  
New Hope Cultural Ed. Facs. Fin. Corp. Sr. Living Rev. (Bridgemoor Plano Proj.), Ser. 2018-A, 7.25%, due 12/1/53
  
326
  
 
646
  
 
 
Total Municipal Notes (Cost $112,114)
  
114,695
  
 
UNITS
 
Liquidating Trust - Real Estate 2.6%
   
600
  
CMS Liquidating Trust (Cost  $3,105)
  
1,755
*(e)(f)
       
 
Total Investments 169.4% (Cost $115,219)
116,450
  
 
Other Assets Less Liabilities 0.8%
587
  
       
 
Liquidation Value of Variable Rate Municipal Term Preferred Shares (net of unamortized deferred offering costs of approximately $11,000) (70.2)%
(48,289)
  
       
 
Net Assets Applicable to Common Stockholders 100.0%
$68,748
  
 
*
  
Non-income producing security.
(a)
  
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At January 31, 2019, these securities amounted to approximately $7,063,000, which represents 10.3% of net assets applicable to common stockholders of the Fund. Securities denoted with (a) but without (b) have been deemed by the investment manager to be liquid.
(b)
  
Illiquid security.
(c)
  
Variable rate demand obligation where the stated interest rate is not based on a published reference rate and spread. Rather, the interest rate generally resets daily or weekly and is determined by the remarketing agent. The rate shown represents the rate in effect at January 31, 2019.
(d)
  
Defaulted security.
(e)
  
Value determined using significant unobservable inputs.
(f)
  
This security has been deemed by the investment manager to be illiquid, and is subject to restrictions on resale.
 
At January 31, 2019, this security amounted to approximately $1,755,000, which represents 2.6% of net assets applicable to common stockholders of the Fund.
 
(000’s omitted)
Restricted Security
 
 
 
Acquisition
Date
 
 
 
 
 
 
Acquisition
Cost
Acquisition Cost
Percentage of Net
Assets Applicable
to Common
Stockholders
as of
Acquisition Date
 
 
 
 
 
 
Value as of
1/31/2019
Fair Value
Percentage of
Net Assets
Applicable to
Common
Stockholders as
of 1/31/2019
  
 
CMS Liquidating Trust
 
11/21/2012
 
$3,105
 
4.0%
 
$1,755
 
2.6%
  
 
See Notes to Schedule of Investments
Schedule of Investments New York Municipal Fund Inc.^
(Unaudited) (cont’d)
 

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of January 31, 2019:
 
Asset Valuation Inputs
  
(000's omitted)
  
Level 1
    
Level 2
    
Level 3(b)
    
Total
  
Investments:
        
Municipal Notes(a)
  
$
—
    
$
114,695
    
$
—
    
$
114,695
  
Liquidating Trust - Real Estate
    
—
      
—
      
1,755
      
1,755
  
Total Investments
  
$
—
    
$
114,695
    
$
1,755
    
$
116,450
  
 
(a)
The Schedule of Investments provides a categorization by state/territory or industry for the portfolio.

(b)
The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

(000’s omitted)
 
 
 
 
Beginning
balance,
as of
11/1/2018
 
 
 
 
 
Accrued
discounts/
(premiums)
 
 
Realized
gain/
(loss)
 
 
 
 
Change in
unrealized
appreciation/
(depreciation)
 
 
 
 
 
 
 
Purchases
 
 
 
 
 
 
 
Sales
 
 
 
 
 
Transfers
into 
Level 3
 
 
 
 
 
Transfers
out of
Level 3
 
 
 
 
 
Balance,
as of
1/31/2019
Net change
in unrealized
appreciation/
(depreciation) from
investments
still held as
of 1/31/2019
Investments in Securities:
                    
Units
                    
Liquidating Trust—Real Estate
 
 
$1,770
 
 
$—
 
 
$—
 
 
$(15)
 
 
$—
 
 
$—
 
 
$—
 
 
$—
 
 
$1,755
 
 
$(15)
Total
$1,770
$—
$—
$(15)
$—
$—
$—
$—
$1,755
$(15)

The following table presents additional information about valuation approach and inputs used for investments that are measured at fair value and categorized within Level 3 as of January 31, 2019.

 
 
 
 
Asset
class
 
 
 
Fair value
at 1/31/2019
 
 
 
Valuation
approach
 
 
 
Unobservable
input
 
 
 
Range
per unit
 
 
 
Input value
per unit
Impact to
valuation
from
increase
in input
 
Units
$1,755,000
Income Approach
Appraised value
$2,654 - $3,185
$2,925
Increase

^
A balance indicated with a "-", either reflects a zero balance or an amount that rounds to less than 1.
 
 
See Notes to Schedule of Investments
January 31, 2019
 
Notes to Schedule of Investments (Unaudited)
 
 
†
In accordance with Accounting Standards Codification 820 “Fair Value Measurement” (“ASC 820”), all investments held by each of Neuberger Berman California Municipal Fund Inc., Neuberger Berman Municipal Fund Inc. and Neuberger Berman New York Municipal Fund Inc., (each individually a “Fund,” and collectively, the “Funds”) are carried at the value that Neuberger Berman Investment Advisers LLC ("Management") believes a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Funds' investments, some of which are discussed below. Significant Management judgment may be necessary to value investments in accordance with ASC 820.

ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

•
Level 1 – quoted prices in active markets for identical investments
•
Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)
•
Level 3 – unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

The value of the Funds’ investments in municipal notes and liquidating trust - real estate is determined by Management primarily by obtaining valuations from independent pricing services based on readily available bid quotations, or if quotations are not available, by methods which include various considerations such as yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions (generally Level 2 inputs). Other Level 2 and 3 inputs used by independent pricing services to value municipal notes and liquidating trust - real estate include current trades, bid-wanted lists (which inform the market that a holder is interested in selling a position and that offers will be considered), offerings, general information on market movement, direction, trends, appraisals, bid offers and specific data on specialty issues.

Management has developed a process to periodically review information provided by independent pricing services for all types of securities.

If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount a Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not readily available, the security is valued using methods the Funds’ Board of Directors has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Numerous factors may be considered when determining the fair value of a security based on Level 2 or Level 3 inputs, including available analyst, media or other reports, securities within the same industry with recent highly correlated performance, trading in futures or American Depositary Receipts and whether the issuer of the security being fair valued has other securities outstanding.

Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or next trades.

In August 2018, FASB issued Accounting Standards Update No. 2018-13, “Fair Value Measurement (Topic 820: Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU 2018-13”).  ASU 2018-13 eliminates the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the timing of transfers between levels of the fair value hierarchy and the valuation processes for Level 3 fair value measurements. ASU 2018-13 will require the need to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements and the changes in unrealized gains and losses for recurring Level 3 fair value measurements. ASU 2018-13 will also require that information is provided about the measurement uncertainty of Level 3 fair value measurements as of the reporting date. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and allows for early adoption of either the entire standard or only the provisions that eliminate or modify the requirements. Management has elected to adopt early the provisions that eliminate the disclosure requirements. Management is still currently evaluating the impact of applying the rest of the guidance.
 
 
For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent stockholder reports.
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 1940 Act), as of a date within 90 days of the filing date of this report, the Chief Executive Officer and President and the 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 on Form N-Q 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 filed herewith.
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 Municipal Fund Inc.
By:
 /s/ Joseph V. Amato
  
 
Joseph V. Amato
  
 
Chief Executive Officer and President
  

Date:  March 27, 2019
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/ Joseph V. Amato
  
 
Joseph V. Amato
  
 
Chief Executive Officer and President
  

Date:  March 27, 2019
By:
 /s/ John M. McGovern
  
 
John M. McGovern
  
 
Treasurer and Principal Financial
  
 
and Accounting Officer
  


Date:  March 27, 2019