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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 811-06537
Invesco Van Kampen Trust for Investment Grade New York Municipals
(Exact name of registrant as specified in charter)
1555 Peachtree Street, N.E., Atlanta, Georgia 30309
(Address of principal executive offices) (Zip code)
Colin Meadows 1555 Peachtree Street, N.E., Atlanta, Georgia 30309
(Name and address of agent for service)
Registrant’s telephone number, including area code: (713) 626-1919
Date of fiscal year end: 2/28
Date of reporting period: 5/31/12
 
 

 


 

Item 1. Schedule of Investments.

 


 

Invesco Van Kampen Trust for Investment
Grade New York Municipals

Quarterly Schedule of Portfolio Holdings
May 31, 2012
         
(INVESCO LOGO)
       
 
invesco.com/us
  VK-CE-IGNYM-QTR-1 05/12   Invesco Advisers, Inc.

 


 

Schedule of Investments
May 31, 2012
(Unaudited)
                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Municipal Obligations—158.91%
                               
New York—146.14%
                               
Albany (City of) Industrial Development Agency (St. Peter’s Hospital); Series 2008 D, Civic Facility RB
    5.75 %     11/15/27     $ 1,000     $ 1,113,790  
Albany Capital Resource Corp. (St. Peter’s Hospital); Series 2011, RB
    6.25 %     11/15/38       1,860       2,174,414  
Battery Park City Authority; Series 2009 B, Sr. RB
    5.00 %     11/01/34       3,200       3,819,680  
Brooklyn Arena Local Development Corp. (Barclays Center);
                               
Series 2009, PILOT CAB RB (a)
    0.00 %     07/15/34       6,700       2,085,911  
Series 2009, PILOT RB
    6.25 %     07/15/40       825       926,855  
Series 2009, PILOT RB
    6.38 %     07/15/43       825       931,772  
Chautauqua (County of) Industrial Development Agency (NRG Energy, Inc. — Dunkirk Power LLC); Series 2009, Exempt Facility RB
    5.88 %     04/01/42       2,340       2,580,482  
Dutchess (County of) Industrial Development Agency (Elant at Fishkill, Inc.); Series 2007 A, Civic Facility RB
    5.25 %     01/01/37       920       813,041  
East Rochester (Village of) Housing Authority (Woodland Village, Inc.); Series 2006, Ref. Senior Living RB
    5.50 %     08/01/33       2,400       2,292,960  
Erie (County of) Industrial Development Agency (City of Buffalo School District);
                               
Series 2011 A, School Facility RB (b)
    5.25 %     05/01/28       2,500       2,912,700  
Series 2011 A, School Facility RB (b)
    5.25 %     05/01/30       2,305       2,664,142  
Essex (County of) Industrial Development Agency (International Paper); Series 2005 A, Ref. Solid Waste Disposal RB (c)
    5.20 %     12/01/23       2,150       2,209,663  
Hempstead Town Local Development Corp. (Molloy College); Series 2009, RB
    5.75 %     07/01/39       2,655       2,921,004  
Hudson Yards Infrastructure Corp.; Series 2011 A, RB
    5.75 %     02/15/47       1,695       1,954,911  
Long Island Power Authority;
                               
Series 2006 E, Electric System General RB
    5.00 %     12/01/17       1,975       2,302,337  
Series 2009 A, Electric System General RB
    6.25 %     04/01/33       1,860       2,251,344  
Madison (County of) Industrial Development Agency (Morrisville State College Foundation); Series 2005 A, Civic Facility RB
(INS-CIFG) (d)
    5.00 %     06/01/28       1,000       1,013,010  
Madison (County of) Industrial Development Agency (Oneida Health Systems, Inc.); Series 2007, Civic Facility RB
    5.50 %     02/01/32       750       763,350  
Metropolitan Transportation Authority;
                               
Series 2005 B, RB (INS-BHAC) (b)(d)
    5.00 %     11/15/31       10,000       11,122,400  
Series 2009 B, Dedicated Tax Fund RB
    5.25 %     11/15/27       1,535       1,784,775  
Subseries 2011 B-2, Dedicated Tax Fund RB
    5.00 %     11/15/32       1,000       1,155,120  
Monroe County Industrial Development Corp. (Nazareth College of Rochester); Series 2011, RB
    5.50 %     10/01/41       700       767,074  
Monroe County Industrial Development Corp. (University of Rochester); Series 2011 A, RB
    5.00 %     07/01/36       1,605       1,779,704  
Nassau (County of) Industrial Development Agency (Amsterdam at Harborside); Series 2007 A, Continuing Care Retirement Community RB
    6.70 %     01/01/43       5,000       3,262,450  
New York & New Jersey (States of) Port Authority (JFK International Air Terminal LLC);
                               
Series 1997, Special Obligation RB (INS-NATL) (c)(d)
    5.75 %     12/01/22       2,000       2,000,420  
Series 1997 6, Special Obligation RB (INS-NATL) (c)(d)
    5.75 %     12/01/25       2,500       2,500,275  
Series 2010, Special Obligation RB
    6.00 %     12/01/42       1,540       1,713,635  
New York & New Jersey (States of) Port Authority;
                               
One Hundred Fifty-Second Series 2008, Consolidated RB (b)(c)
    5.00 %     11/01/25       10,000       11,056,700  
One Hundred Forty-Fourth Series 2006, Consolidated RB (b)
    5.00 %     10/01/35       10,000       11,334,700  
New York (City of) Industrial Development Agency (IAC/InterActive Corp.); Series 2005, Liberty RB
    5.00 %     09/01/35       3,440       3,525,415  
New York (City of) Industrial Development Agency (New York Stock Exchange); Series 2009 A, Ref. Special Facility RB
    5.00 %     05/01/21       2,445       2,873,755  
New York (City of) Industrial Development Agency (Polytechnic University); Series 2007, Ref. Civic Facility RB (INS-ACA) (d)
    5.25 %     11/01/37       3,500       3,673,845  
New York (City of) Industrial Development Agency (Staten Island University Hospital); Series 2001 B, Civic Facility RB (e)(f)
    6.38 %     07/01/12       1,670       1,678,400  
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
New York—(continued)
                               
New York (City of) Industrial Development Agency (Terminal One Group Association, L.P.);
                               
Series 2005, Special Facility RB (c)(g)
    5.50 %     01/01/19     $ 3,710     $ 4,026,092  
Series 2005, Special Facility RB (c)(g)
    5.50 %     01/01/20       3,000       3,225,960  
Series 2005, Special Facility RB (c)(g)
    5.50 %     01/01/21       4,000       4,288,680  
New York (City of) Industrial Development Agency (YMCA of Greater New York); Series 1997, Civic Facility RB
    5.80 %     08/01/16       920       922,861  
New York (City of) Municipal Water Finance Authority;
                               
Series 2005 C, Water & Sewer System RB (b)
    5.00 %     06/15/31       10,000       11,046,900  
Series 2005 D, Water & Sewer System RB (b)
    5.00 %     06/15/37       12,000       13,188,480  
Series 2009 FF-2, Water & Sewer System RB
    5.50 %     06/15/40       1,500       1,730,685  
New York (City of) Transitional Finance Authority;
                               
Series 2008 S-1, Building Aid RB
    5.50 %     07/15/38       2,950       3,348,102  
Series 2008 S-2, Building Aid RB
    6.00 %     07/15/33       1,350       1,592,703  
Series 2009 S-3, Building Aid RB (b)
    5.25 %     01/15/27       4,500       5,219,550  
Series 2009 S-3, Building Aid RB (b)
    5.25 %     01/15/39       2,000       2,237,160  
Subseries 2011 D-1, Future Tax Sec. RB (b)
    5.00 %     11/01/33       12,000       13,844,040  
Subseries 2011 E, Future Tax Sec. RB
    5.00 %     11/01/24       1,135       1,373,940  
New York (City of) Trust for Cultural Resources (American Museum of Natural History); Series 2004 A, Ref. RB (INS-NATL) (b)(d)
    5.00 %     07/01/44       10,890       11,216,264  
New York (City of) Trust for Cultural Resources (Carnegie Hall); Series 2009 A, RB
    5.00 %     12/01/39       1,500       1,636,440  
New York (City of) Trust for Cultural Resources (Lincoln Center); Series 2008 A-1, Ref. VRD RB (LOC-JP Morgan Chase & Co.) (h)(i)
    0.20 %     12/01/35       6,770       6,770,000  
New York (City of) Trust for Cultural Resources (Museum of Modern Art); Series 2008 1A, Ref. RB
    5.00 %     04/01/31       1,550       1,728,963  
New York (City of);
                               
Subseries 1993 A-7, VRD Unlimited Tax GO Bonds (LOC-JPMorgan Chase Bank, N.A.) (i)
    0.19 %     08/01/20       1,000       1,000,000  
Subseries 2008 F-1, Unlimited Tax GO Bonds
    5.50 %     11/15/28       3,300       3,859,977  
Subseries 2008 I-1, Unlimited Tax GO Bonds (b)
    5.00 %     02/01/26       10,000       11,585,400  
Subseries 2008 L-1, Unlimited Tax GO Bonds (b)
    5.00 %     04/01/27       10,000       11,249,400  
Subseries 2009 I-1, Unlimited Tax GO Bonds
    5.25 %     04/01/32       4,000       4,631,080  
New York (State of) Dormitory Authority (Brooklyn Law School); Series 2003 B, RB (INS-SGI) (d)
    5.38 %     07/01/23       2,340       2,412,563  
New York (State of) Dormitory Authority (Catholic Health Services of Long Island — St. Francis Hospital); Series 2004, RB
    5.00 %     07/01/27       2,200       2,251,876  
New York (State of) Dormitory Authority (City of New York); Series 2005 A, Court Facilities Lease RB (INS-AMBAC) (d)
    5.50 %     05/15/30       1,750       2,250,430  
New York (State of) Dormitory Authority (Convent of The Sacred Heart); Series 2011, RB (INS-AGM) (d)
    5.75 %     11/01/40       1,255       1,477,537  
New York (State of) Dormitory Authority (Cornell University); Series 2010 A, RB
    5.00 %     07/01/40       1,000       1,128,430  
New York (State of) Dormitory Authority (Education); Series 2008 B, State Personal Income Tax RB
    5.75 %     03/15/36       2,150       2,560,800  
New York (State of) Dormitory Authority (Fashion Institute of Technology Student Housing Corp.); Series 2007, RB
(INS-NATL) (d)
    5.25 %     07/01/28       1,655       1,899,659  
New York (State of) Dormitory Authority (Fordham University);
                               
Series 2008 B, RB (INS-AGC) (d)
    5.00 %     07/01/33       915       996,133  
Series 2011 A, RB
    5.13 %     07/01/29       500       571,310  
New York (State of) Dormitory Authority (General Purpose); Series 2011 A, State Personal Income Tax RB (b)
    5.00 %     03/15/30       2,400       2,807,736  
New York (State of) Dormitory Authority (Maimonides Medical Center); Series 2004, Mortgage Hospital RB (INS-NATL) (d)
    5.00 %     08/01/33       1,950       2,085,369  
New York (State of) Dormitory Authority (Manhattan College); Series 2007 A, RB (INS-Radian) (d)
    5.00 %     07/01/41       2,315       2,342,849  
New York (State of) Dormitory Authority (Memorial Sloan-Kettering Cancer Center); Series 1998, RB (INS-NATL) (d)
    5.50 %     07/01/23       3,750       4,873,237  
New York (State of) Dormitory Authority (Mount Sinai Hospital Obligated Group); Series 2011 A, RB
    5.00 %     07/01/31       1,695       1,850,635  
New York (State of) Dormitory Authority (Mount Sinai School of Medicine of New York University); Series 2009, RB
    5.13 %     07/01/39       1,750       1,902,390  
New York (State of) Dormitory Authority (New York University);
                               
Series 2001 1, RB (INS-AMBAC) (d)
    5.50 %     07/01/31       2,000       2,600,620  
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
New York—(continued)
                               
Series 2001 1, RB (INS-BHAC) (d)
    5.50 %     07/01/31     $ 830     $ 1,066,807  
New York (State of) Dormitory Authority (North Shore — Long Island Jewish Obligated Group);
                               
Series 2009 A, RB
    5.50 %     05/01/37       1,250       1,404,400  
Subseries 2005 A, RB
    5.00 %     11/01/26       2,125       2,274,813  
New York (State of) Dormitory Authority (Orange Regional Medical Center);
                               
Series 2008, RB
    6.13 %     12/01/29       1,000       1,087,770  
Series 2008, RB
    6.50 %     12/01/21       3,000       3,412,710  
New York (State of) Dormitory Authority (Pratt Institution); Series 2009 C, RB (INS-AGC) (d)
    5.13 %     07/01/39       600       650,688  
New York (State of) Dormitory Authority (Rochester Institute of Technology); Series 2010, RB
    5.00 %     07/01/40       1,350       1,482,989  
New York (State of) Dormitory Authority (Rockefeller University); Series 2010 A, RB
    5.00 %     07/01/41       1,500       1,696,065  
New York (State of) Dormitory Authority (School Districts Financing Program);
                               
Series 2008 D, RB (INS-AGC) (d)
    5.75 %     10/01/24       2,000       2,399,480  
Series 2011 A, RB
    5.00 %     10/01/25       950       1,105,990  
New York (State of) Dormitory Authority (St. Joseph’s College); Series 2010, RB
    5.25 %     07/01/35       1,000       1,098,980  
New York (State of) Dormitory Authority (State University Educational Facilities);
                               
Series 1993 A, RB (INS-NATL) (d)
    5.25 %     05/15/15       3,600       3,938,148  
Series 1993 B, RB
    5.25 %     05/15/19       5,010       5,778,434  
New York (State of) Dormitory Authority (The New School);
                               
Series 2010, RB
    5.50 %     07/01/40       2,200       2,476,870  
Series 2011, Ref. RB
    5.00 %     07/01/31       1,400       1,559,278  
New York (State of) Dormitory Authority (Vassar College); Series 2007, RB
    5.00 %     07/01/46       1,670       1,789,288  
New York (State of) Dormitory Authority;
                               
Series 1993 A, Second General City University System Consolidated RB
    5.75 %     07/01/13       1,320       1,354,267  
Series 1995 A, City University System Consolidated RB
    5.63 %     07/01/16       3,000       3,365,910  
Series 2007 A, Mental Health Services Facilities Improvement RB (INS-AGM) (d)
    5.00 %     02/15/27       2,000       2,176,520  
Series 2008 C, Mental Health Services Facilities Improvement RB (INS-AGM) (c)(d)
    5.25 %     02/15/28       2,000       2,153,700  
New York (State of) Mortgage Agency; Series 2007 145, Homeowner Mortgage RB (c)
    5.05 %     10/01/29       1,555       1,612,675  
New York (State of) Power Authority; Series 2011 A, RB
    5.00 %     11/15/38       1,415       1,618,279  
New York (State of) Thruway Authority; Series 2008 B, Second General Highway & Bridge Trust Fund RB
    5.00 %     04/01/27       1,000       1,143,360  
New York (State of) Urban Development Corp. (Rensselaer Polytechnic Institute — Center for Industrial Innovation); Series 1995, Ref. RB
    5.50 %     01/01/13       440       449,046  
New York City Health & Hospital Corp.; Series 2010 A, Health System RB
    5.00 %     02/15/30       2,230       2,489,996  
New York Liberty Development Corp. (4 World Trade Center); Series 2011, Ref. Liberty RB
    5.00 %     11/15/31       1,695       1,901,773  
New York Liberty Development Corp. (7 World Trade Center); Series 2012, Class 1, Ref. Liberty RB
    5.00 %     09/15/40       8,000       9,047,120  
New York Liberty Development Corp. (Bank of America Tower at One Bryant Park); Series 2010, Ref. Second Priority Liberty RB
    6.38 %     07/15/49       2,230       2,513,991  
New York State Environmental Facilities Corp. (2010 Master Financing Program); Series 2010 C, RB
    5.00 %     10/15/39       1,505       1,693,817  
New York State Environmental Facilities Corp. (Municipal Water Finance Authority); Series 2011 B, State Clean Water & Drinking Water Revolving Funds RB
    5.00 %     06/15/31       1,270       1,496,746  
New York State Environmental Facilities Corp. (New York City Municipal Water Finance Authority);
                               
Series 1994 A, State Water PCR (f)
    5.75 %     06/15/12       300       300,654  
Series 1994 A, State Water PCR (f)
    5.75 %     06/15/12       500       501,090  
Series 1994 A, State Water PCR
    5.75 %     06/15/12       95       95,207  
New York State Urban Development Corp.;
                               
Series 1993 A, Ref. Correctional Facilities RB
    5.50 %     01/01/14       1,895       1,976,409  
Series 2008 B, Ref. Service Contract RB
    5.25 %     01/01/25       2,000       2,272,880  
Niagara Frontier Transportation Authority (Buffalo Niagara International Airport); Series 1999 A, Airport RB (INS-NATL) (c)(d)
    5.63 %     04/01/29       3,570       3,609,270  
Oneida (County of) Industrial Development Agency (St. Elizabeth Medical Center Facility); Series 1999 B, Civic Facility RB
    6.00 %     12/01/19       1,180       1,181,215  
Onondaga Civic Development Corp. (Le Moyne College); Series 2010, RB
    5.38 %     07/01/40       1,950       2,097,986  
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
New York—(continued)
                               
Rockland (County of) Solid Waste Management Authority; Series 2003 B, RB (INS-AMBAC) (c)(d)
    5.13 %     12/15/28     $ 1,000     $ 1,019,530  
Rockland (County of); Series 2012, Limited TAN
    2.50 %     03/06/13       845       850,408  
Saratoga (County of) Industrial Development Agency (Saratoga Hospital); Series 2007 B, Civic Facility RB
    5.13 %     12/01/27       1,000       1,046,810  
Seneca (County of) Industrial Development Agency (Seneca Meadows, Inc.); Series 2005, RB (c)(e)(g)(j)
    6.63 %     10/01/13       1,500       1,519,935  
Sodus Central School District; Series 2002, Ref. Unlimited Tax GO Bonds (e)(f)
    5.13 %     06/15/12       1,250       1,252,425  
Suffolk (County of) Industrial Development Agency (Eastern Long Island Hospital Association); Series 2007, Civic Facility RB (j)
    5.38 %     01/01/27       1,950       1,825,337  
Suffolk County Economic Development Corp. (Peconic Landing at Southold, Inc.); Series 2010, Ref. RB
    6.00 %     12/01/40       825       899,745  
Tompkins (County of) Industrial Development Agency (Cornell University); Series 2008 A, Civic Facility RB
    5.00 %     07/01/37       750       849,173  
Troy Capital Resource Corp. (Rensselaer Polytechnic Institute); Series 2010 A, RB
    5.00 %     09/01/30       2,000       2,221,580  
TSASC, Inc.;
                               
Series 2006 1, Tobacco Settlement Asset-Backed RB
    5.00 %     06/01/34       2,000       1,525,920  
Series 2006 1, Tobacco Settlement Asset-Backed RB
    5.13 %     06/01/42       1,660       1,227,719  
United Nations Development Corp.; Series 2009 A, Ref. RB
    5.00 %     07/01/25       1,000       1,127,430  
Westchester (County of) Industrial Development Agency (Kendal on Hudson); Series 2003 A, Continuing Care Retirement Community Mortgage RB (e)(f)
    6.50 %     01/01/13       3,000       3,110,400  
Westchester Tobacco Asset Securitization Corp.; Series 2005, Tobacco Settlement Asset-Backed RB
    5.13 %     06/01/45       2,750       2,246,640  
Yonkers Economic Development Corp. (Charter School of Educational Excellence); Series 2010 A, Educational RB
    6.25 %     10/15/40       1,200       1,235,316  
 
                             
 
                            349,927,274  
 
                             
Puerto Rico—8.71%
                               
Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority; Series 2012 A, Sr. Lien RB
    5.13 %     07/01/37       2,000       2,009,300  
Puerto Rico (Commonwealth of) Electric Power Authority;
                               
Series 2008 WW, RB
    5.00 %     07/01/28       1,000       1,040,610  
Series 2008 WW, RB
    5.25 %     07/01/33       1,500       1,556,400  
Series 2008 WW, RB
    5.50 %     07/01/21       1,000       1,118,870  
Series 2010 XX, RB
    5.75 %     07/01/36       600       659,496  
Puerto Rico (Commonwealth of) Infrastructure Financing Authority; Series 2005 C, Ref. Special Tax RB (INS-AMBAC) (d)
    5.50 %     07/01/27       1,225       1,363,033  
Puerto Rico (Commonwealth of) Public Buildings Authority; Series 2004 I, Government Facilities RB (e)(f)
    5.25 %     07/01/14       75       82,415  
Puerto Rico Sales Tax Financing Corp.;
                               
First Subseries 2009 A, RB
    5.75 %     08/01/37       870       966,579  
First Subseries 2009 A, RB
    6.38 %     08/01/39       1,500       1,757,175  
First Subseries 2010 A, RB
    5.38 %     08/01/39       945       1,012,284  
First Subseries 2010 C, RB
    5.25 %     08/01/41       1,000       1,062,310  
Series 2011 C, RB (b)
    5.00 %     08/01/40       2,820       3,013,255  
Series 2011 C, RB (b)
    5.25 %     08/01/40       4,695       5,204,126  
 
                             
 
                            20,845,853  
 
                             
Guam—2.71%
                               
Guam (Territory of) (Section 30);
                               
Series 2009 A, Limited Obligation RB
    5.63 %     12/01/29       750       804,937  
Series 2009 A, Limited Obligation RB
    5.75 %     12/01/34       500       537,275  
Guam (Territory of) Power Authority; Series 2010 A, RB
    5.50 %     10/01/40       820       848,167  
Guam (Territory of) Waterworks Authority; Series 2010, Water & Wastewater System RB
    5.63 %     07/01/40       3,000       3,045,930  
Guam (Territory of); Series 2011 A, Business Privilege Tax RB
    5.25 %     01/01/36       1,125       1,251,619  
 
                             
 
                            6,487,928  
 
                             
Virgin Islands—1.35%
                               
Virgin Islands (Government of) Public Finance Authority (Gross Receipts Taxes Loan Note); Series 1999 A, RB
    6.38 %     10/01/19       1,370       1,374,590  
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

                                 
                    Principal        
    Interest     Maturity     Amount        
    Rate     Date     (000)     Value  
 
Virgin Islands—(continued)
                               
Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note — Diageo); Series 2009 A, Sub. RB
    6.63 %     10/01/29     $ 1,600     $ 1,865,664  
 
                            3,240,254  
 
                             
TOTAL INVESTMENTS(k)—158.91% (Cost $352,010,091)
                            380,501,309  
 
                             
Floating Rate Note Obligations—(29.37)%
                               
Notes with interest rates ranging from 0.15% to 0.28% at 05/31/12, and contractual maturities of collateral ranging from 11/01/25 to 07/01/44 (l) (See Note 1D)
                            (70,320,000 )
 
                             
OTHER ASSETS LESS LIABILITIES—2.53%
                            6,059,296  
 
                             
PREFERRED SHARES—(9.96)%
                            (23,850,000 )
 
                             
VARIABLE RATE MUNI TERM PREFERRED SHARES—(22.11)%
                            (52,950,000 )
 
                             
NET ASSETS APPLICABLE TO COMMON SHARES —100.00%
                          $ 239,440,605  
 
                             
Investment Abbreviations:
     
ACA
  — ACA Financial Guaranty Corp.
AGC
  — Assured Guaranty Corp.
AGM
  — Assured Guaranty Municipal Corp.
AMBAC
  — American Municipal Bond Assurance Corp.
BHAC
  — Berkshire Hathaway Assurance Corp.
CAB
  — Capital Appreciation Bonds
CIFG
  — CIFG Assurance North America, Inc.
GO
  — General Obligation
INS
  — Insurer
LOC
  — Letter of Credit
NATL
  — National Public Finance Guarantee Corp.
PCR
  — Pollution Control Revenue Bonds
PILOT
  — Payment-in-Lieu-of-Tax
Radian
  — Radian Asset Assurance, Inc.
RB
  — Revenue Bonds
Ref.
  — Refunding
Sec.
  — Secured
SGI
  — Syncora Guarantee, Inc.
Sr.
  — Senior
Sub.
  — Subordinated
VRD
  — Variable Rate Demand
 
Notes to Schedule of Investments:
 
(a)   Zero coupon bond issued at a discount.
 
(b)   Underlying security related to Dealer Trusts entered into by the Trust. See Note 1D.
 
(c)   Security subject to the alternative minimum tax.
 
(d)   Principal and/or interest payments are secured by the bond insurance company listed.
 
(e)   Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put.
 
(f)   Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral.
 
(g)   Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2012.
 
(h)   Demand security payable upon demand by the Trust at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2012.
 
(i)   Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary.
 
(j)   Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at May 31, 2012 was $3,345,272, which represented 1.40% of the Trust’s Net Assets.
 
(k)   This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuer’s obligations but may be called upon to satisfy the issuer’s obligations.
         
Entities   Percentage  
 
National Public Finance Guarantee Corp.
    8.4 %
 
 
(l)   Floating rate note obligations related to securities held. The interest rates shown reflect the rates in effect at May 31, 2012. At May 31, 2012, the Trust’s investments with a value of $129,702,953 are held by Dealer Trusts and serve as collateral for the $70,320,000 in the floating rate note obligations outstanding at that date.
See accompanying notes which are an integral part of this schedule.
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

Notes to Quarterly Schedule of Portfolio Holdings
May 31, 2012
(Unaudited)
NOTE 1 — Significant Accounting Policies
A.   Security Valuations — Securities, including restricted securities, are valued according to the following policy.
              Securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices and may reflect appropriate factors such as institution-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, individual trading characteristics and other market data. Securities with a demand feature exercisable within one to seven days are valued at par. Debt securities are subject to interest rate and credit risks. In addition, all debt securities involve some risk of default with respect to interest and principal payments.
              Securities for which market quotations either are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust’s officers following procedures approved by the Board of Trustees. Some of the factors which may be considered in determining fair value are fundamental analytical data relating to the investment; the nature and duration of any restrictions on transferability or disposition; trading in similar securities by the same issuer or comparable companies; relevant political, economic or issuer specific news; and other relevant factors under the circumstances.
              Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general economic conditions, interest rates, investor perceptions and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
B.   Securities Transactions and Investment Income — Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Bond premiums and discounts are amortized and/or accreted for financial reporting purposes.
              The Trust may periodically participate in litigation related to Trust investments. As such, the Trust may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.
              Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Trust’s net asset value and, accordingly, they reduce the Trust’s total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Trust and the investment adviser.
C.   Country Determination — For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer’s securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

D.   Floating Rate Note Obligations — The Trust invests in inverse floating rate securities, such as Residual Interest Bonds (“RIBs”) or Tender Option Bonds (“TOBs”) for investment purposes and to enhance the yield of the Trust. Inverse floating rate investments tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. Such transactions may be purchased in the secondary market without first owning the underlying bond or by the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer (“Dealer Trusts”) in exchange for cash and residual interests in the Dealer Trusts’ assets and cash flows, which are in the form of inverse floating rate securities. The Dealer Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interest in the bonds. The floating rate notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate investments) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts.
 
              TOBs are presently classified as private placement securities. Private placement securities are subject to restrictions on resale because they have not been registered under the Securities Act of 1933, as amended or are otherwise not readily marketable. As a result of the absence of a public trading market for these securities, they may be less liquid than publicly traded securities. Although these securities may be resold in privately negotiated transactions, the prices realized from these sales could be less than those originally paid by the Trust or less than what may be considered the fair value of such securities.
              The Trust accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities transferred remaining in the Trust’s investment assets, and the related floating rate notes reflected as Trust liabilities under the caption Floating rate note obligations on the Statement of Assets and Liabilities. The Trust records the interest income from the fixed rate bonds under the caption Interest and records the expenses related to floating rate obligations and any administrative expenses of the Dealer Trusts a component of Interest, facilities and maintenance fees on the Statement of Operations.
              The Trust generally invests in inverse floating rate securities that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The primary risks associated with inverse floating rate securities are varying degrees of liquidity and the changes in the value of such securities in response to changes in market rates of interest to a greater extent than the value of an equal principal amount of a fixed rate security having similar credit quality, redemption provisions and maturity which may cause the Trust’s net asset value to be more volatile than if it had not invested in inverse floating rate securities. In certain instances, the short-term floating rate interests created by the special purpose trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such interests for repayment of principal, may not be able to be remarketed to third parties. In such cases, the special purpose trust holding the long-term fixed rate bonds may be collapsed. In the case of RIBs or TOBs created by the contribution of long-term fixed income bonds by the Trust, the Trust will then be required to repay the principal amount of the tendered securities. During times of market volatility, illiquidity or uncertainty, the Trust could be required to sell other portfolio holdings at a disadvantageous time to raise cash to meet that obligation.
E.   Other Risks — The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located.
              Since many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and a Trust’s investments in municipal securities.
              There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.
NOTE 2 — Additional Valuation Information
     Generally Accepted Accounting Principles (“GAAP”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3) generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

  Level 1     Prices are determined using quoted prices in an active market for identical assets.
 
  Level 2     Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
 
  Level 3     Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Trust’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
               The following is a summary of the tiered valuation input levels, as of May 31, 2012. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
                                 
    Level 1   Level 2   Level 3   Total
 
Municipal Obligations
  $     $ 380,501,309     $     $ 380,501,309  
 
NOTE 3 — Investment Securities
The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the three months ended May 31, 2012 was $9,502,885 and $5,875,600, respectively. Cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end.
         
Unrealized Appreciation (Depreciation) of Investment Securities on a Tax Basis
 
Aggregate unrealized appreciation of investment securities
  $ 35,770,441  
 
Aggregate unrealized (depreciation) of investment securities
    (6,409,856 )
 
Net unrealized appreciation of investment securities
  $ 29,360,585  
 
Cost of investments for tax purposes is $351,140,724.
   
NOTE 4 — Significant Event
The Board of Trustees of the Trust (the “Board”) approved the redomestication of the Trust, a Massachusetts business trust, into a Delaware statutory trust pursuant to an Agreement and Plan of Redomestication (the “Redomestication”). The Board also approved an Agreement and Plan of Merger pursuant to which Invesco New York Quality Municipal Securities (“Target Trust”) would merge with and into the Trust in accordance with the Delaware Statury Trust Act (the “Merger”). As a result of the Merger, all of the assets and liabilities of the Target Trust will become assets and liabilities of the Trust and the Target Trust’s shareholders will become shareholders of the Trust. The Redomestication and the Merger are subject to shareholder approval.
     In addition, the Board also approved a plan to redeem all of the outstanding auction rate preferred shares at their respective liquidation preferences. These redemptions are anticipated to be funded with proceeds received from the issuance of Variable Rate Muni Term Preferred Shares (“VMTPS”) and Tender Option Bonds (“TOBs”). VMTPS are a variable rate form of preferred stock with a mandatory redemption date. These redemptions and this issuance of VMTPS are targeted to occur in the first half of 2012.
Invesco Van Kampen Trust for Investment Grade New York Municipals

 


 

Item 2. Controls and Procedures.
  (a)   As of June 12, 2012, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”), to assess the effectiveness of the Registrant’s disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (“Act”), as amended. Based on that evaluation, the Registrant’s officers, including the PEO and PFO, concluded that, as of June 12, 2012, the Registrant’s disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure.
 
  (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) 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.
      Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940.

 


 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: Invesco Van Kampen Trust for Investment Grade New York Municipals
         
By:
  /s/ Colin Meadows    
 
       
 
  Colin Meadows    
 
  Principal Executive Officer    
Date: July 30, 2012
Pursuant to the requirements of the Securities and 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/ Colin Meadows    
 
       
 
  Colin Meadows    
 
  Principal Executive Officer    
Date: July 30, 2012
         
By:
  /s/ Sheri Morris    
 
       
 
  Sheri Morris    
 
  Principal Financial Officer    
Date: July 30, 2012

 


 

EXHIBIT INDEX
Certifications of Principal Executive Officer (“PEO”) and Principal Financial Officer (“PFO”) as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended.