nq2.htm



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-21211
 
Nuveen New York AMT-Free Municipal Income Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            9/30          
 
Date of reporting period:         12/31/11         
 
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 the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (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, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 

 
Item 1. Schedule of Investments
 
           
   
Portfolio of Investments (Unaudited) 
     
   
Nuveen New York AMT-Free Municipal Income Fund 
     
   
(formerly known as Nuveen Insured New York Tax-Free Advantage Municipal Fund) (NRK) 
     
   
December 31, 2011 
     
           
Principal 
   
Optional Call 
   
Amount (000) 
 
Description (1) 
Provisions (2) 
Ratings (3) 
Value 
   
Consumer Staples – 3.2% (2.1% of Total Investments) 
     
$    1,500 
 
New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003, 
6/13 at 100.00 
A1 
$    1,438,470 
   
5.750%, 6/01/33 
     
285 
 
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, 
5/12 at 100.00 
BBB 
268,752 
   
Series 2002, 5.375%, 5/15/33 
     
1,785 
 
Total Consumer Staples 
   
1,707,222 
   
Education and Civic Organizations – 30.5% (19.8% of Total Investments) 
     
3,400 
 
Dormitory Authority of the State of New York, General Revenue Bonds, Saint Johns University, 
7/17 at 100.00 
A– 
3,569,524 
   
Series 2007A, 5.250%, 7/01/32 – NPFG Insured 
     
2,000 
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Long Island University, 
9/12 at 100.00 
Baa3 
2,007,380 
   
Series 2003A, 5.000%, 9/01/32 – RAAI Insured 
     
2,000 
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of 
No Opt. Call 
A– 
2,180,900 
   
Medicine, Series 1994A, 5.150%, 7/01/24 – NPFG Insured 
     
1,000 
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
No Opt. Call 
Aa2 
1,067,350 
   
Facilities, Series 2003B, 5.250%, 7/01/32 (Mandatory put 7/01/13) – SYNCORA GTY Insured 
     
410 
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory 
7/16 at 100.00 
Aa2 
430,275 
   
Facilities, Series 2006A, 5.000%, 7/01/31 – NPFG Insured 
     
1,000 
 
Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A, 
7/17 at 100.00 
BBB 
1,083,080 
   
5.000%, 7/01/25 – FGIC Insured 
     
1,000 
 
Dormitory Authority of the State of New York, Revenue Bonds, Mount St. Mary College, Series 
7/13 at 100.00 
N/R 
1,004,950 
   
2003, 5.000%, 7/01/32 – RAAI Insured 
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of 
     
   
Technology, Series 2006A: 
     
100 
 
5.250%, 7/01/20 – AMBAC Insured 
No Opt. Call 
A1 
123,012 
80 
 
5.250%, 7/01/21 – AMBAC Insured 
No Opt. Call 
A1 
98,582 
225 
 
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Colgate 
No Opt. Call 
AA+ 
249,768 
   
University, Tender Option Bond Trust 3127, 13.205%, 1/01/14 – AMBAC Insured (IF) 
     
300 
 
New York City Industrial Development Agency, New York, Payment in Lieu of Taxes Revenue Bonds, 
1/19 at 100.00 
AA– 
329,289 
   
Queens Baseball Stadium Project, Series 2009, 6.125%, 1/01/29 – AGC Insured 
     
495 
 
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project 
3/19 at 100.00 
AA– 
571,552 
   
PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured 
     
   
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium 
     
   
Project, Series 2006: 
     
170 
 
5.000%, 3/01/31 – FGIC Insured 
9/16 at 100.00 
BBB– 
172,426 
1,425 
 
5.000%, 3/01/36 – NPFG Insured 
9/16 at 100.00 
BBB 
1,428,719 
840 
 
4.500%, 3/01/39 – FGIC Insured 
9/16 at 100.00 
BBB– 
777,084 
1,000 
 
New York City Trust for Cultural Resources, New York, Revenue Bonds, American Museum of 
7/14 at 100.00 
AA 
1,028,750 
   
Natural History, Series 2004A, 5.000%, 7/01/36 – NPFG Insured 
     
15,445 
 
Total Education and Civic Organizations 
   
16,122,641 
   
Health Care – 21.7% (14.1% of Total Investments) 
     
2,000 
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, 
2/13 at 100.00 
BBB 
2,019,820 
   
Lutheran Medical Center, Series 2003, 5.000%, 8/01/31 – NPFG Insured 
     
3,000 
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, St. 
8/12 at 100.00 
N/R 
3,053,220 
   
Barnabas Hospital, Series 2002A, 5.000%, 2/01/31 – AMBAC Insured 
     
335 
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson 
8/17 at 100.00 
AA– 
361,241 
   
Valley Hospital Center, Series 2007, 5.000%, 8/15/27 – AGM Insured 
     
1,000 
 
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical 
2/15 at 100.00 
BBB 
1,094,430 
   
Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured 
     
255 
 
Dormitory Authority of the State of New York, Revenue Bonds, Health Quest System Inc., Series 
7/17 at 100.00 
AA– 
265,149 
   
2007B, 5.125%, 7/01/37 – AGC Insured 
     
25 
 
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer 
7/13 at 100.00 
Aa2 
26,297 
   
Center, Series 2003-1, 5.000%, 7/01/21 – NPFG Insured 
     
775 
 
Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian 
8/14 at 100.00 
AA– 
841,092 
   
Hospital, Series 2004A, 5.250%, 8/15/15 – AGM Insured 
     
750 
 
Dormitory Authority of the State of New York, Revenue Bonds, South Nassau Communities 
7/13 at 100.00 
Baa1 
765,428 
   
Hospital, Series 2003B, 5.500%, 7/01/23 
     
305 
 
Dormitory Authority of the State of New York, Revenue Bonds, The New York and Presbyterian 
8/14 at 100.00 
AA– 
312,247 
   
Hospital Project, Series 2007, 5.000%, 8/15/36 – AGM Insured 
     
2,640 
 
New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series 
2/13 at 100.00 
Aa3 
2,744,359 
   
2003A, 5.250%, 2/15/21 – AMBAC Insured 
     
11,085 
 
Total Health Care 
   
11,483,283 
   
Long-Term Care – 0.6% (0.4% of Total Investments) 
     
290 
 
Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of 
2/17 at 103.00 
AA+ 
309,465 
   
Westchester Project, Series 2006, 5.200%, 2/15/41 
     
   
Tax Obligation/General – 3.2% (2.0% of Total Investments) 
     
1,000 
 
Nassau County, New York, General Obligation Bonds, General Improvement Series 2009C, 5.000%, 
10/19 at 100.00 
AA– 
1,090,040 
   
10/01/29 – AGC Insured 
     
50 
 
New York City, New York, General Obligation Bonds, Fiscal Series 1998H, 5.125%, 8/01/25 – 
2/12 at 100.00 
AA 
50,164 
   
NPFG Insured 
     
225 
 
New York City, New York, General Obligation Bonds, Fiscal Series 2006C, 5.000%, 8/01/16 – 
8/15 at 100.00 
AA 
256,667 
   
AGM Insured 
     
250 
 
New York City, New York, General Obligation Bonds, 5.000%, 11/01/19 – AGM Insured (UB) 
11/14 at 100.00 
AA 
274,423 
1,525 
 
Total Tax Obligation/General 
   
1,671,294 
   
Tax Obligation/Limited – 45.1% (29.3% of Total Investments) 
     
2,695 
 
Buffalo Fiscal Stability Authority, New York, Sales Tax Revenue State Aid Secured Bonds, 
No Opt. Call 
Aa1 
2,778,302 
   
Series 2004A, 5.250%, 8/15/12 – NPFG Insured 
     
1,000 
 
Dormitory Authority of the State of New York, Master Lease Program Revenue Bonds, Nassau 
8/19 at 100.00 
AA– 
1,097,830 
   
County Board of Cooperative Educational Services, Series 2009A, 5.000%, 8/15/28 – AGC Insured 
     
3,000 
 
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing 
10/12 at 100.00 
A+ 
3,083,371 
   
Program, Series 2002D, 5.250%, 10/01/23 – NPFG Insured 
     
1,000 
 
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing 
10/19 at 100.00 
AA– 
1,131,890 
   
Program, Series 2009A, 5.625%, 10/01/29 – AGC Insured 
     
1,085 
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
5/17 at 100.00 
AA– 
1,208,137 
   
City School District, Series 2007A, 5.750%, 5/01/28 – AGM Insured (UB) 
     
340 
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo 
5/18 at 100.00 
AA– 
385,699 
   
City School District Project, Series 2008A, 5.750%, 5/01/27 – AGM Insured (UB) 
     
1,400 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 
No Opt. Call 
A 
1,517,166 
   
2011A, 5.750%, 2/15/47 
     
2,055 
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%, 
2/17 at 100.00 
A 
2,064,556 
   
2/15/47 – FGIC Insured 
     
1,000 
 
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, 
7/12 at 100.00 
AA– 
1,017,740 
   
Series 2002A, 5.000%, 7/01/25 – FGIC Insured 
     
560 
 
Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003, 
1/13 at 102.00 
BBB 
534,055 
   
5.500%, 1/01/34 
     
   
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local 
     
   
Government Assistance Corporation, Series 2004A: 
     
610 
 
5.000%, 10/15/25 – NPFG Insured (UB) 
10/14 at 100.00 
AAA 
669,640 
555 
 
5.000%, 10/15/26 – NPFG Insured (UB) 
10/14 at 100.00 
AAA 
608,302 
740 
 
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 
1/17 at 100.00 
AA– 
798,874 
   
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured 
     
1,000 
 
New York City, New York, Educational Construction Fund, Revenue Bonds, Series 2011A, 5.750%, 
4/21 at 100.00 
AA+ 
1,145,400 
   
4/01/33 – AGM Insured 
     
280 
 
New York Convention Center Development Corporation, New York, Hotel Fee Revenue Bonds, 
11/15 at 100.00 
AA+ 
315,501 
   
Tender Option Bonds Trust 3095, 13.409%, 11/15/44 – AMBAC Insured (IF) 
     
1,290 
 
New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds, 
1/13 at 100.00 
AAA 
1,339,704 
   
Series 2002A, 5.000%, 1/01/23 – FGIC Insured 
     
950 
 
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series 
No Opt. Call 
AA 
1,215,069 
   
2005B, 5.500%, 4/01/20 – AMBAC Insured 
     
1,200 
 
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and 
6/13 at 100.00 
AA– 
1,271,424 
   
State Contingency Contract-Backed Bonds, Series 2003A-1, 5.250%, 6/01/20 – AMBAC Insured 
     
750 
 
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and 
6/13 at 100.00 
AA– 
797,280 
   
State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21 
     
295 
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 
8/20 at 100.00 
AA– 
308,962 
   
2010C, 5.125%, 8/01/42 – AGM Insured 
     
3,500 
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 
No Opt. Call 
Aa2 
585,620 
   
8/01/41 – NPFG Insured 
     
25,305 
 
Total Tax Obligation/Limited 
   
23,874,522 
   
Transportation – 14.4% (9.4% of Total Investments) 
     
   
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005A: 
     
100 
 
4.750%, 11/15/27 – NPFG Insured 
11/15 at 100.00 
AA– 
108,231 
500 
 
4.750%, 11/15/30 – AMBAC Insured 
11/15 at 100.00 
A 
511,965 
1,000 
 
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, 
11/12 at 100.00 
A 
1,028,950 
   
Series 2002A, 5.000%, 11/15/25 – FGIC Insured 
     
355 
 
New York Liberty Development Corporation, Liberty Revenue Bonds, 4 World Trade Center Project, 
11/21 at 100.00 
A+ 
362,054 
   
Series 2011, 5.000%, 11/15/44 
     
140 
 
New York State Thruway Authority, General Revenue Bonds, Refunding Series 2007H, 5.000%, 
1/18 at 100.00 
A+ 
157,032 
   
1/01/25 – FGIC Insured 
     
1,875 
 
New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/20 – 
1/15 at 100.00 
A+ 
2,045,306 
   
AMBAC Insured 
     
3,000 
 
New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/32 – 
7/15 at 100.00 
AA– 
3,194,910 
   
AGM Insured 
     
170 
 
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty 
8/17 at 100.00 
Aa2 
217,525 
   
Eighth Series 2008, Trust 2920, 17.424%, 8/15/32 – AGM Insured (IF) 
     
7,140 
 
Total Transportation 
   
7,625,973 
   
U.S. Guaranteed – 24.1% (15.6% of Total Investments) (4) 
     
1,185 
 
Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds, 
2/13 at 102.00 
Aaa 
1,272,595 
   
Shorefront Jewish Geriatric Center Inc., Series 2002, 5.200%, 2/01/32 (Pre-refunded 2/01/13) 
     
500 
 
Dormitory Authority of the State of New York, Revenue Bonds, North Shore Long Island Jewish 
5/13 at 100.00 
Aaa 
534,330 
   
Group, Series 2003, 5.375%, 5/01/23 (Pre-refunded 5/01/13) 
     
2,500 
 
Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of 
7/12 at 100.00 
A1 (4) 
2,563,350 
   
Technology, Series 2002A, 5.250%, 7/01/22 (Pre-refunded 7/01/12) – AMBAC Insured 
     
55 
 
Erie County Water Authority, New York, Water Revenue Bonds, Series 1990B, 6.750%, 12/01/14 – 
No Opt. Call 
N/R (4) 
61,085 
   
AMBAC Insured (ETM) 
     
500 
 
New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series 
2/12 at 100.00 
Aaa 
503,330 
   
2002A, 5.500%, 2/15/17 (Pre-refunded 2/15/12) – AGM Insured 
     
3,000 
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal 
8/12 at 100.00 
AAA 
3,088,470 
   
Series 2003C, 5.250%, 8/01/18 (Pre-refunded 8/01/12) – AMBAC Insured 
     
2,000 
 
New York City Transitional Finance Authority, New York, Future Tax Secured Refunding Bonds, 
2/13 at 100.00 
Aaa 
2,103,380 
   
Fiscal Series 2003D, 5.000%, 2/01/22 (Pre-refunded 2/01/13) – NPFG Insured 
     
500 
 
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State 
3/13 at 100.00 
AA+ (4) 
531,605 
   
Facilities and Equipment, Series 2002C-1, 5.500%, 3/15/21 (Pre-refunded 3/15/13) – FGIC Insured 
     
2,000 
 
Power Authority of the State of New York, General Revenue Bonds, Series 2002A, 5.000%, 
11/12 at 100.00 
Aa2 (4) 
2,083,240 
   
11/15/20 (Pre-refunded 11/15/12) 
     
12,240 
 
Total U.S. Guaranteed 
   
12,741,385 
   
Utilities – 6.7% (4.3% of Total Investments) 
     
   
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A: 
     
1,130 
 
5.000%, 12/01/23 – FGIC Insured 
6/16 at 100.00 
A– 
1,240,830 
870 
 
5.000%, 12/01/25 – FGIC Insured 
6/16 at 100.00 
A– 
938,321 
1,000 
 
5.000%, 12/01/26 – AGC Insured 
6/16 at 100.00 
AA+ 
1,116,210 
125 
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, 
6/16 at 100.00 
A– 
128,814 
   
5.000%, 12/01/35 – CIFG Insured 
     
110 
 
Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%, 
11/15 at 100.00 
Aa2 
123,507 
   
11/15/19 – FGIC Insured 
     
3,235 
 
Total Utilities 
   
3,547,682 
   
Water and Sewer – 4.6% (3.0% of Total Investments) 
     
1,780 
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue 
12/21 at 100.00 
AA+ 
1,919,694 
   
Bonds, Second Generation Resolution, Fiscal 2012 Series BB, 5.000%, 6/15/44 
     
495 
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue 
6/16 at 100.00 
AAA 
520,077 
   
Bonds, Series 2006B, 5.000%, 6/15/36 – NPFG Insured (UB) 
     
2,275 
 
Total Water and Sewer 
   
2,439,771 
$ 80,325 
 
Total Investments (cost $77,579,456) – 154.1% 
   
81,523,238 
   
Floating Rate Obligations – (4.5)% 
   
(2,390,000) 
   
MuniFund Term Preferred Shares, at Liquidation Value – (52.3)% (5) 
   
(27,680,000) 
   
Other Assets Less Liabilities – 2.7% 
   
1,438,673 
   
Net Assets Applicable to Common Shares – 100% 
   
$ 52,891,911 
 
 
 
 
 

 
 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:
 
Level 1 – Quoted prices in active markets for identical securities.
 
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of December 31, 2011:
 
                         
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments: 
                       
Municipal Bonds 
  $     $ 81,523,238     $     $ 81,523,238  
 
 
During the period ended December 31, 2011, the Fund recognized no significant transfers to or from Level 1, Level 2 or Level 3.
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
At December 31, 2011, the cost of investments was $75,163,680.
 
Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2011, were as follows:
 
       
Gross unrealized: 
     
Appreciation 
  $ 4,013,227  
Depreciation 
    (47,335 ) 
Net unrealized appreciation (depreciation) of investments 
  $ 3,965,892  
 
     
(1) 
 
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common 
   
shares unless otherwise noted. 
(2) 
 
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities 
   
may be subject to periodic principal paydowns. 
(3) 
 
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, 
   
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or 
   
BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any 
   
of these national rating agencies. 
(4) 
 
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, 
   
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or 
   
agency securities are regarded as having an implied rating equal to the rating of such securities. 
(5) 
 
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 34.0%. 
N/R 
 
Not rated. 
(ETM) 
 
Escrowed to maturity. 
(IF) 
 
Inverse floating rate investment. 
(UB) 
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction. 
 
 
 
 

 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) 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.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
 
 

 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant) Nuveen New York AMT-Free Municipal Income Fund
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         February 29, 2012        
 
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 (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date         February 29, 2012        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date         February 29, 2012