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 811-6500
Name of Fund: MuniYield New York Insured Fund, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Terry K. Glenn, President, MuniYield New
York Insured Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ 08536.
Mailing address: P.O. Box 9011, Princeton, NJ 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 10/31/04
Date of reporting period: 05/01/04 - 07/31/04
Item 1 - Schedule of Investments
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
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New York - 132.7%
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AAA Aaa $ 23,790 Albany County, New York, Airport Authority, Airport Revenue Bonds, AMT, 6% $ 26,195
due 12/15/2023(c)
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AAA Aaa 8,200 Buffalo and Fort Erie, New York, Public Bridge Authority, Toll Bridge System 8,390
Revenue Bonds, 5.75% due 1/01/2025(d)
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Buffalo, New York, School, GO, Series D(b):
AAA Aaa 1,250 5.50% due 12/15/2014 1,391
AAA Aaa 1,500 5.50% due 12/15/2016 1,658
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AAA Aaa 4,300 Buffalo, New York, Sewer Authority, Revenue Refunding Bonds, Series F, 6% due 5,013
7/01/2013(b)
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AAA Aaa 1,700 Dutchess County, New York, Resource Recovery Agency Revenue Bonds (Solid 1,870
Waste System-Forward), Series A, 5.40% due 1/01/2013(d)
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Erie County, New York, IDA, School Facility Revenue Bonds (City of Buffalo
Project)(c):
AAA Aaa 1,900 5.75% due 5/01/2020 2,120
AAA Aaa 5,250 5.75% due 5/01/2024 5,747
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Huntington, New York, GO, Refunding(a):
NR* Aaa 485 5.50% due 4/15/2011 543
NR* Aaa 460 5.50% due 4/15/2012 521
NR* Aaa 455 5.50% due 4/15/2013 513
NR* Aaa 450 5.50% due 4/15/2014 507
NR* Aaa 450 5.50% due 4/15/2015 506
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NR* Aaa 1,675 Ilion, New York, Central School District, GO, Series B, 5.50% due 6/15/2015(b) 1,897
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Long Island Power Authority, New York, Electric System Revenue Bonds:
AAA Aaa 7,000 Series A, 5% due 9/01/2029(a) 7,000
AAA Aaa 5,000 Series A, 5% due 9/01/2034(a) 4,964
AAA Aaa 4,000 Series C, 5% due 9/01/2033(j) 3,963
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AAA Aaa 2,375 Madison County, New York, IDA, Civic Facility Revenue Bonds (Colgate 2,356
University Project), Series A, 5% due 7/01/2039(d)
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AAA Aaa 2,000 Metropolitan Transportation Authority, New York, Commuter Facilities Revenue 2,231
Bonds, Series A, 5.75% due 1/01/2008(d)(e)
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Portfolio Abbreviations
To simplify the listings of MuniYield New York Insured Fund, Inc.'s portfolio
holdings in the Schedule of Investments, we have abbreviated the names of many
of the securities according to the list below.
AMT Alternative Minimum Tax (subject to)
COP Certificates of Participation
DRIVERS Derivative Inverse Tax-Exempt Receipts
GO General Obligation Bonds
HFA Housing Finance Agency
IDA Industrial Development Authority
IDR Industrial Development Revenue Bonds
RIB Residual Interest Bonds
VRDN Variable Rate Demand Notes
1
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (continued) (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
====================================================================================================================================
New York (continued)
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AAA Aaa $ 10,000 Metropolitan Transportation Authority, New York, Commuter Facilities Revenue $ 10,406
Refunding Bonds, Series B, 4.875% due 7/01/2018(b)(h)
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Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue
Bonds, Series A:
AAA Aaa 7,280 5% due 11/15/2031(b) 7,284
AAA Aaa 1,015 5% due 11/15/2032(c) 1,015
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Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue
Refunding Bonds, Series A:
AAA Aaa 7,500 5.50% due 11/15/2026(c) 7,960
AAA Aaa 10,000 5% due 11/15/2030(d) 10,013
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Metropolitan Transportation Authority, New York, Revenue Refunding Bonds:
NR* Aaa 28,900 RIB, Series 724X, 10.16% due 11/15/2032(c)(f) 33,397
AAA Aaa 2,500 Series A, 5.50% due 11/15/2018(a) 2,756
AAA Aaa 1,740 Series A, 5.125% due 11/15/2022(b) 1,814
AAA Aaa 2,500 Series A, 5.25% due 11/15/2031(b) 2,557
AAA Aaa 1,500 Series B, 5% due 11/15/2028(d) 1,504
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AAA Aaa 2,000 Metropolitan Transportation Authority, New York, Service Contract Revenue 2,029
Refunding Bonds, Series A, 5% due 7/01/2025(b)
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Metropolitan Transportation Authority, New York, Transit Facilities Revenue
Refunding Bonds, Series C(c)(e):
AAA Aaa 2,885 5.125% due 1/01/2012 3,185
AAA Aaa 1,640 5.125% due 7/01/2012 1,815
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AAA Aaa 2,500 Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, 2,500
Series A, 5% due 11/15/2032(b)
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Metropolitan Transportation Authority, New York, Transportation Revenue
Refunding Bonds(d):
AAA Aaa 800 Series E, 5.125% due 11/15/2024 825
AAA Aaa 6,235 Series F, 5.25% due 11/15/2027 6,416
AAA Aaa 8,200 Series F, 5% due 11/15/2031 8,205
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Monroe County, New York, IDA Revenue Bonds (Southview Towers Project), AMT:
NR* Aa1 1,400 6.125% due 2/01/2020 1,525
NR* Aa1 1,125 6.25% due 2/01/2031 1,212
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AAA Aaa 2,300 Nassau County, New York, Interim Finance Authority, Sales Tax Secured Revenue 2,308
Bonds, Series A, 4.75% due 11/15/2023(a)
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AAA Aaa 12,130 Nassau Health Care Corporation, New York, Health System Revenue Bonds, 12,969
5.75% due 8/01/2029(c)
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BBB A3 455 New York City, New York, City Health and Hospital Corporation, Health System 457
Revenue Bonds, Series A, 5.375% due 2/15/2026
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AAA Aaa 3,000 New York City, New York, City Health and Hospital Corporation, Health System 3,296
Revenue Refunding Bonds, Series A, 5.25% due 2/15/2012(a)
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AAA Aaa 1,275 New York City, New York, City IDA, Civic Facility Revenue Refunding Bonds 1,369
(Nightingale-Bamford School), 5.25% due 1/15/2018(a)
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AAA Aaa 15,720 New York City, New York, City IDA, IDR (Japan Airlines Company), AMT, 6% 16,182
due 11/01/2015(c)
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2
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (continued) (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
====================================================================================================================================
New York (continued)
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AAA Aaa $ 7,970 New York City, New York, City IDA, Parking Facility Revenue Bonds (Royal $ 8,662
Charter-New York Presbyterian), 5.75% due 12/15/2029(c)
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AAA Aaa 14,970 New York City, New York, City IDA, Special Facilities Revenue Bonds 15,341
(Terminal One Group), AMT, 6.125% due 1/01/2024(d)
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AAA Aaa 500 New York City, New York, City Municipal Water Finance Authority, Water and 501
Sewer System Crossover Revenue Refunding Bonds, Series F, 5% due 6/15/2029
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New York City, New York, City Municipal Water Finance Authority, Water and
Sewer System Revenue Bonds:
NR* Aaa 12,500 RIB, Series 726X, 10.16% due 6/15/2027(d)(f) 14,466
AAA Aaa 2,850 Series A, 5.75% due 6/15/2031(b) 3,058
AAA Aaa 4,085 Series B, 5.75% due 6/15/2006(d)(e) 4,415
AAA Aaa 17,200 Series B, 5.75% due 6/15/2029(d) 18,451
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New York City, New York, City Municipal Water Finance Authority, Water and
Sewer System, Revenue Refunding Bonds:
AAA Aaa 5,000 5.50% due 6/15/2033(d) 5,217
AAA Aaa 2,250 Series A, 5.375% due 6/15/2026(c) 2,293
AAA Aaa 1,250 Series A, 5.125% due 6/15/2034(d) 1,260
AAA Aaa 7,015 Series B, 5.75% due 6/15/2026(d) 7,529
A1+ VMIG1+ 4,000 VRDN, Series A, 1.07% due 6/15/2025(b)(g) 4,000
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AAA Aaa 1,020 New York City, New York, City Transit Authority, Metropolitan Transportation 1,139
Authority, Tribourough, COP, Series A, 5.625% due 1/01/2012(a)
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AAA Aaa 1,000 New York City, New York, City Transitional Finance Authority, Future Tax 1,001
Secured Revenue Refunding Bonds, Series B, 5% due 5/01/2030(a)
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New York City, New York, City Transitional Finance Authority Revenue Bonds,
Future Tax Secured:
AAA Aaa 6,805 Series B, 6.25% due 5/15/2010(b)(e) 7,958
AA+ Aa2 800 Series B, 6.25% due 5/15/2010(e) 936
AA+ Aa2 3,160 Series C, 5.50% due 5/01/2025 3,325
AAA Aaa 16,195 Series C, 5% due 2/01/2033(b) 16,171
AAA Aaa 8,020 Series E, 5.25% due 2/01/2017(b) 8,653
AAA Aaa 2,500 Series E, 5.25% due 2/01/2022(d) 2,644
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AAA Aaa 3,000 New York City, New York, City Transitional Finance Authority, Revenue 3,186
Refunding Bonds, Future Tax Secured, Series D, 5.25% due 2/01/2021(d)
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AAA Aaa 1,000 New York City, New York, City Transitional Finance Authority, Revenue 1,009
Refunding Bonds, Series A, 5% due 11/15/2026(b)
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New York City, New York, GO:
NR* Aaa 11,042 RIB, Series 725X, 10.16% due 3/15/2027(c)(f) 12,769
AAA Aaa 3,000 Series A, 5.75% due 5/15/2024(b) 3,257
AAA Aaa 2,500 Series B, 5.75% due 8/01/2013(d) 2,813
A A2 3,750 Series D, 5.25% due 10/15/2023 3,871
A A2 8,000 Series J, 5% due 5/15/2023 8,086
A1+ VMIG1+ 300 VRDN, Sub-Series A-6, 1.07% due 11/01/2026(c)(g) 300
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New York City, New York, GO, Refunding:
AAA Aaa 1,000 Series A, 6.375% due 5/15/2013(b) 1,160
AAA A2 70 Series B, 7% due 2/01/2018(a) 70
A A2 2,285 Series G, 5.75% due 2/01/2006(e) 2,451
A A2 1,365 Series G, 5.75% due 2/01/2020 1,440
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3
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (continued) (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
====================================================================================================================================
New York (continued)
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AAA Aaa $ 11,500 New York City, New York, IDA, Civic Facility Revenue Bonds (USTA National $ 11,891
Tennis Center Project), 6.375% due 11/15/2014(c)
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New York City, New York, Trust for Cultural Resources Revenue Refunding
Bonds (American Museum of Natural History), Series A(d):
AAA Aaa 4,250 5% due 7/01/2036 4,263
AAA Aaa 8,000 5% due 7/01/2044 7,883
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AAA Aaa 2,345 New York State Dormitory Authority Hospital Revenue Refunding Bonds (The 2,515
NewYork-Presbyterian Hospital), Series A, 5.25% due 8/15/2019(c)
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AAA Aaa 1,230 New York State Dormitory Authority, Mental Health Facilities Revenue Bonds, 1,335
Series B, 5.25% due 2/15/2017(d)
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New York State Dormitory Authority Revenue Bonds:
AAA NR* 4,045 (Eger Health Care and Rehabilitation Center), 6.10% due 8/01/2037(i) 4,436
AAA Aaa 500 (Fordham University), 5% due 7/01/2020(b) 520
AA NR* 1,500 (Long Island University), Series B, 5.25% due 9/01/2028(k) 1,514
AA- NR* 1,840 (Mental Health Services Facilities Improvement), Series B, 5.25%
due 2/15/2023 1,911
AAA Aaa 2,000 (New School for Social Research), 5.75% due 7/01/2026(d) 2,167
AAA Aaa 1,180 (New York State Rehabilitation Association), Series A, 5.25%
due 7/01/2019(j) 1,255
AAA Aaa 1,000 (New York State Rehabilitation Association), Series A, 5.125%
due 7/01/2023(j) 1,028
AAA Aaa 6,900 (School Districts Financing Program), Series E, 5.75% due 10/01/2030(d) 7,428
AAA Aaa 1,000 Series B, 6.50% due 2/15/2011(d)(h) 1,181
AAA Aaa 3,560 (State University Adult Facilities), Series B, 5.75% due 5/15/2010(c)(e) 4,074
AAA Aaa 710 (Upstate Community Colleges), Series A, 6% due 7/01/2015(c) 808
AAA Aaa 1,070 (Upstate Community Colleges), Series A, 6% due 7/01/2016(c) 1,218
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New York State Dormitory Authority, Revenue Refunding Bonds:
AAA Aaa 1,000 (City University System), Consolidated, Series 1, 5.625% due 1/01/2008(c)(e) 1,116
AAA Aaa 4,400 (City University System), Series C, 7.50% due 7/01/2010(b) 5,082
AAA A3 4,255 (Mental Health Services Facilities Improvement), Series A, 5.75% due 4,701
2/15/2007(d)(e)
AAA A3 150 (Mental Health Services Facilities Improvement), Series A, 5.75% due 160
2/15/2027(d)
AAA Aaa 1,370 (School District Financing Program), Series I, 5.75% due 10/01/2018(d) 1,543
AAA Aaa 6,000 (Siena College), 5.75% due 7/01/2026(d) 6,501
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New York State Dormitory Authority, State Personal Income Tax Education
Revenue Bonds, Series A(d):
AA NR* 1,620 5% due 3/15/2018 1,699
AAA Aaa 1,000 5% due 3/15/2032 1,000
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AAA Aaa 12,750 New York State Energy Research and Development Authority, Facilities Revenue 13,467
Refunding Bonds (Consolidated Edison Co. of New York), Series A, 6.10% due
8/15/2020(a)
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AAA Aaa 4,555 New York State Energy Research and Development Authority, Gas Facilities 4,619
Revenue Bonds (Brooklyn Union Gas Company), AMT, Series B, 6.75% due 2/01/2024(d)
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AAA Aaa 3,500 New York State Environmental Facilities Corporation, Special Obligation 4,101
Revenue Refunding Bonds (Riverbank State Park), 6.25% due 4/01/2012(a)
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AAA Aaa 2,405 New York State, HFA, Revenue Refunding Bonds (Housing Mortgage Project), 2,498
Series A, 6.10% due 11/01/2015(c)
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4
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (continued) (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
====================================================================================================================================
New York (continued)
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AAA Aaa $ 800 New York State HFA, State Personal Income Tax Revenue $ 821
Bonds (Economic Development and Housing), Series A, 5% due 9/15/2023(d)
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A1+ NR* 3,000 New York State Local Government Assistance Corporation, Revenue Refunding 3,000
Bonds, Sub Lien, VRDN, Series 4V, 1.08% due 4/01/2022(c)(g)
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New York State Medical Care Facilities Finance Agency Revenue Bonds, Series A:
AAA Aaa 5,375 (Health Center Project-Second Mortgage), 6.375% due 11/15/2019(a) 5,774
AAA Aaa 1,500 (Mental Health Services), 6% due 2/15/2005(d)(e) 1,567
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AAA Aa2 2,000 New York State Medical Care Facilities Finance Agency Revenue Refunding Bonds 2,120
(Hospital & Nursing Homes), Series B, 6.25% due 2/15/2025(i)
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AAA Aaa 9,710 New York State Mortgage Agency, Homeowner Mortgage Revenue Refunding 9,967
Bonds, AMT, Series 67, 5.80% due 10/01/2028(d)
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New York State Mortgage Agency, Revenue Bonds, AMT(d):
AAA Aaa 250 24th Series, 6.125% due 10/01/2030 255
AAA Aaa 2,850 DRIVERS, Series 295, 10.362% due 4/01/2030(f) 3,136
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New York State Municipal Bond Bank Agency, Special School Purpose Revenue
Bonds, Series C:
A+ NR* 3,970 5.25% due 6/01/2019 4,167
A+ NR* 3,920 5.25% due 6/01/2020 4,100
A+ NR* 2,250 5.25% due 6/01/2021 2,345
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AAA Aaa 2,820 New York State Thruway Authority, Highway and Bridge Trust Fund Revenue 3,249
Bonds, Series A, 6.25% due 4/01/2011(c)
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New York State Thruway Authority, Local Highway and Bridge Service Contract
Revenue Bonds(e):
AAA Aaa 3,000 5.75% due 4/01/2010(a) 3,427
AAA Aaa 2,000 Series A-2, 5.375% due 4/01/2008(d) 2,207
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New York State Thruway Authority, Local Highway and Bridge Service Contract
Revenue Refunding Bonds(d):
AAA Aaa 2,170 6% due 4/01/2007(e) 2,419
AAA Aaa 1,330 6% due 4/01/2011 1,471
AAA Aaa 2,075 6% due 4/01/2012 2,294
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AAA Aaa 3,045 New York State Thruway Authority, Second General Highway and Bridge Trust 3,209
Fund Revenue Bonds, Series A, 5.25% due 4/01/2023(d)
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New York State Thruway, Transportation Authority, State Personal Income Tax
Revenue Bonds, Series A(d):
AAA Aaa 1,525 5% due 3/15/2020 1,591
AAA Aaa 1,525 5% due 3/15/2022 1,575
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New York State Urban Development Corporation, Personal Income Tax Revenue
Bonds, Series C-1(d):
AAA Aaa 1,750 5% due 3/15/2023 1,798
AAA Aaa 3,000 5% due 3/15/2033 2,995
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AAA Aaa 3,190 New York State Urban Development Corporation, Revenue Refunding Bonds 3,732
(Correctional Capital Facilities), Series A, 6.50% due 1/01/2011(c)
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5
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (continued) (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
====================================================================================================================================
New York (continued)
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Niagara County, New York, IDA, Solid Waste Disposal Revenue Refunding
Bonds, AMT:
BBB Baa1 $ 8,000 Series A, 5.45% due 11/15/2026 $ 8,536
BBB Baa1 2,000 Series C, 5.625% due 11/15/2024 2,091
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AAA Aaa 1,000 Niagara Falls, New York, GO (Water Treatment Plant), AMT, 7.25% due 1,193
11/01/2010(d)
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AAA Aaa 1,100 Niagara Falls, New York, Public Water Authority, Water and Sewer System 1,146
Revenue Bonds, Series A, 5.50% due 7/15/2026(d)
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AAA Aaa 2,705 Niagara, New York, Frontier Authority, Airport Revenue Bonds (Buffalo Niagara 2,956
International Airport), Series B, 5.50% due 4/01/2019(d)
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AAA Aaa 1,260 North Country, New York, Development Authority, Solid Waste Management 1,453
System Revenue Refunding Bonds, 6% due 5/15/2015(c)
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North Hempstead, New York, GO, Refunding, Series B(b):
AAA Aaa 1,745 6.40% due 4/01/2013 2,082
AAA Aaa 555 6.40% due 4/01/2017 674
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AAA Aaa 1,665 Oneida County, New York, IDA, Civic Facilities Revenue Bonds (Mohawk Valley), 1,784
Series A, 5.20% due 2/01/2013(c)
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Port Authority of New York and New Jersey, Consolidated Revenue Bonds, AMT:
AAA Aaa 2,180 97th Series, 6.50% due 7/15/2019(b) 2,246
AAA Aaa 2,500 137th Series, 5.125% due 7/15/2030(c) 2,480
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AAA Aaa 4,000 Port Authority of New York and New Jersey, Consolidated Revenue Refunding 4,239
Bonds, AMT, 119th Series, 5.50% due 9/15/2016(b)
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NR* Aaa 4,075 Port Authority of New York and New Jersey, Revenue Bonds, Trust Receipts, AMT, 4,672
Class R, Series 10, 10.408% due 1/15/2017(c)(f)
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AAA NR* 7,500 Port Authority of New York and New Jersey, Revenue Refunding Bonds, 8,818
DRIVERS, AMT, Series 177, 10.618% due 10/15/2032(d)(f)
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Port Authority of New York and New Jersey, Special Obligation Revenue Bonds,
AMT(d):
AAA NR* 1,750 DRIVERS, Series 192, 10.117% due 12/01/2025(f) 1,963
AAA NR* 5,080 DRIVERS, Series 278, 10.115% due 12/01/2022(f) 5,936
AAA Aaa 14,750 (JFK International Air Terminal), Series 6, 6.25% due 12/01/2010 16,512
AAA Aaa 7,175 (JFK International Air Terminal LLC), Series 6, 6.25% due 12/01/2011 8,051
AAA Aaa 4,425 (Special Project-JFK International Air Terminal), Series 6, 6.25% due 5,001
12/01/2013
AAA Aaa 7,380 (Special Project-JFK International Air Terminal), Series 6, 6.25% due 8,353
12/01/2014
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AAA Aaa 1,255 Rensselaer County, New York, IDA, Civic Facility Revenue Bonds (Polytech 1,359
Institute), Series B, 5.50% due 8/01/2022(a)
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A A3 4,625 Suffolk County, New York, IDA, IDR (Keyspan-Port Jefferson), AMT, 5.25% 4,586
due 6/01/2027
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Suffolk County, New York, IDA, Solid Waste Disposal Facility, Revenue Refunding
Bonds (Ogden Martin System Huntington Project), AMT(a):
AAA Aaa 8,530 6% due 10/01/2010 9,676
AAA Aaa 9,170 6.15% due 10/01/2011 10,539
AAA Aaa 6,470 6.25% due 10/01/2012 7,520
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6
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (continued) (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
====================================================================================================================================
New York (concluded)
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Tobacco Settlement Financing Corporation of New York Revenue Bonds:
AAA Aaa $ 5,000 Series A-1, 5.25% due 6/01/2020(a) $ 5,241
AAA Aaa 5,000 Series A-1, 5.25% due 6/01/2021(a) 5,222
AAA Aaa 2,000 Series A-1, 5.25% due 6/01/2022(a) 2,082
AA- A3 2,000 Series C-1, 5.50% due 6/01/2021 2,117
AA- A3 1,900 Series C-1, 5.50% due 6/01/2022 2,003
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Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue
Refunding Bonds(d):
AAA Aaa 2,500 Series A, 5% due 1/01/2032 2,500
AAA Aa3 2,305 Series Y, 6% due 1/01/2012(h) 2,626
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AAA Aaa 1,410 Triborough Bridge and Tunnel Authority, New York, General Revenue Refunding 1,543
Bonds, Series B, 5% due 11/15/2010(d)
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Triborough Bridge and Tunnel Authority, New York, Revenue Refunding Bonds(d):
AAA Aaa 7,000 5.25% due 11/15/2023 7,364
AAA Aaa 22,175 5% due 11/15/2032 22,173
AAA Aaa 1,500 Series B, 5% due 11/15/2032 1,500
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Triborough Bridge and Tunnel Authority, New York, Subordinate Revenue Bonds:
AAA Aaa 2,465 5% due 11/15/2028(a) 2,472
AAA Aaa 2,500 5% due 11/15/2032(b) 2,500
AAA Aaa 6,000 Series A, 5.25% due 11/15/2030(d) 6,155
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NR* A3 2,500 United Nations Development Corporation, New York, Revenue Refunding Bonds, 2,593
Senior Lien, Series A, 5.25% due 7/01/2020
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AAA Aaa 1,680 Warren & Washington Counties, New York, IDA, Civic Facility Revenue Bonds 1,660
(Glens Falls Hospital Project), Series A, 5% due 12/01/2035(c)
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AAA Aaa 2,010 Yonkers, New York, GO, Series A, 5.75% due 10/01/2017(b) 2,264
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Guam - 0.8%
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A.B. Won Guam International Airport Authority, General Revenue Refunding Bonds,
AMT, Series C(d):
AAA Aaa 2,240 5.25% due 10/01/2021 2,352
AAA Aaa 2,050 5.25% due 10/01/2022 2,138
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Puerto Rico - 11.0%
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Children's Trust Fund Project of Puerto Rico, Tobacco Settlement Revenue
Refunding Bonds:
BBB Baa3 960 5.375% due 5/15/2033 837
BBB Baa3 6,805 5.50% due 5/15/2039 5,669
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Puerto Rico Commonwealth, GO, Refunding, Series A:
AAA Aaa 9,395 4% due 7/01/2031(b) 9,490
AAA Aaa 2,500 5% due 7/01/2031(c) 2,691
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Puerto Rico Commonwealth, Highway and Transportation Authority,
Transportation Revenue Bonds:
AAA Aaa 1,900 5.25% due 7/01/2018(b) 2,063
AAA Aaa 2,265 Series G, 5.25% due 7/01/2019(b) 2,451
AAA Aaa 1,000 Series G, 5.25% due 7/01/2021(b) 1,073
AAA Aaa 1,250 Trust Receipts, Class R, Series B, 10.418% due 7/01/2035(d)(f) 1,550
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A Baa1 8,495 Puerto Rico Commonwealth, Highway and Transportation Authority, 8,967
Transportation Revenue Refunding Bonds, Series D, 5.75% due 7/01/2041
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7
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (continued) (in Thousands)
S&P Moody's Face
Ratings Ratings Amount Municipal Bonds Value
====================================================================================================================================
Puerto Rico (concluded)
====================================================================================================================================
Puerto Rico Commonwealth, Public Improvement, GO, Series A:
A- Baa1 $ 4,605 5.25% due 7/01/2019 $ 4,839
A- Baa1 7,480 5.25% due 7/01/2020 7,815
------------------------------------------------------------------------------------------------------------------------------------
A- A3 4,750 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series NN, 5.125% 4,755
due 7/01/2029
------------------------------------------------------------------------------------------------------------------------------------
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue
Bonds, Series E:
BBB+ Baa2 2,300 5.50% due 2/01/2012(e) 2,579
BBB+ Baa2 700 5.50% due 8/01/2029 732
------------------------------------------------------------------------------------------------------------------------------------
AAA NR* 6,100 Puerto Rico Public Finance Corporation, Revenue Bonds, DRIVERS, Series 272, 7,135
9.985% due 8/01/2030(f)
------------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds (Cost - $790,879) - 144.5% 819,966
------------------------------------------------------------------------------------------------------------------------------------
Shares
Held Short-Term Securities
------------------------------------------------------------------------------------------------------------------------------------
51 CMA New York Municipal Money Fund(l) 51
------------------------------------------------------------------------------------------------------------------------------------
Total Short-Term Securities (Cost - $51) - 0.0% 51
------------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $790,930**) - 144.5% 820,017
Other Assets Less Liabilities - 1.1% 6,362
Preferred Stock, at Redemption Value - (45.6%) (259,003)
---------
Net Assets Applicable to Common Stock - 100.0% $ 567,376
=========
(a) AMBAC Insured.
(b) FGIC Insured.
(c) FSA Insured.
(d) MBIA Insured.
(e) Prerefunded.
(f) The interest rate is subject to change periodically and inversely based
upon prevailing market rates. The interest rate shown is the rate in
effect at July 31, 2004.
(g) The interest rate is subject to change periodically based upon prevailing
market rates. The interest rate shown is the rate in effect at July 31,
2004.
(h) Escrowed to maturity.
(i) FHA Insured.
(j) CIFG Insured.
(k) Radian Insured.
8
MuniYield New York Insured Fund, Inc.
Schedule of Investments as of July 31, 2004 (concluded)
(l) Investments in companies considered to be an affiliate of the Fund (such
companies are defined as "Affiliated Companies" in Section 2(a)(3) of the
Investment Company Act of 1940) were as follows:
(in Thousands)
--------------------------------------------------------------------------
Net Dividend
Affiliate Activity Income
--------------------------------------------------------------------------
CMA New York Municipal Money Fund 7 $5
--------------------------------------------------------------------------
* Not Rated.
** The cost and unrealized appreciation/depreciation of investments as of
July 31, 2004, as computed for federal income tax purposes, were as
follows:
(in Thousands)
--------------------------------------------------------------------------
Aggregate cost $ 791,251
=========
Gross unrealized appreciation $ 32,019
Gross unrealized depreciation (3,253)
---------
Net unrealized appreciation $ 28,766
=========
+ Highest short-term rating by Moody's Investors Service, Inc.
Forward interest rate swaps outstanding as of July 31, 2004 were as
follows:
(in Thousands)
---------------------------------------------------------------------------------------------------
Notional Unrealized
Amount Depreciation
---------------------------------------------------------------------------------------------------
Receive a variable rate equal to 7-Day Bond Market Association
Municipal Swap Index Rate and pay a fixed rate of 4.098%
Broker, Morgan Stanley Capital Services, Inc.
Expires September 2014 $ 83,000 $ (2,126)
---------------------------------------------------------------------------------------------------
Financial futures contracts sold as of July 31, 2004 were as follows:
(in Thousands)
------------------------------------------------------------------------------------------------------------------
Number of Face Unrealized
Contracts Issue Expiration Date Value Depreciation
------------------------------------------------------------------------------------------------------------------
405 10 - Year U.S. Treasury Notes September 2004 $ 43,674 $ (1,167)
------------------------------------------------------------------------------------------------------------------
9
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our evaluation
of these controls and procedures as of a date within 90 days prior to the
filing date of this report.
2(b) - There were no changes in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the last fiscal quarter of the period
covered by this report that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over
financial reporting.
Item 3 - Exhibits
Certifications - Attached hereto
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
MuniYield New York Insured Fund, Inc.
By: /s/ Terry K. Glenn
---------------------------
Terry K. Glenn,
President of
MuniYield New York Insured Fund, Inc.
Date: September 17, 2004
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/ Terry K. Glenn
---------------------------
Terry K. Glenn,
President of
MuniYield New York Insured Fund, Inc.
Date: September 17, 2004
By: /s/ Donald C. Burke
---------------------------
Donald C. Burke,
Chief Financial Officer of
MuniYield New York Insured Fund, Inc.
Date: September 17, 2004