-------------------------- OMB APPROVAL ------------ OMB Number: 3235-0578 Expires: February 28, 2006 Estimated average burden hours per response: 20.0 -------------------------- 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: 811-10381 Registrant Name: PIMCO New York Municipal Income Fund Address of Principal Executive Offices: 1345 Avenue of the Americas New York, New York 10105 Name and Address of Agent for Service: Lawrence G. Altadonna - 1345 Avenue of the Americas New York, New York 10105 Registrant's telephone number, including area code: 212-739-3371 Date of Fiscal Year End: 4/30 Date of Reporting Period: 1/31 Form N-Q is to be used by the registered management investment company, other than a small business investment company registered on Form N-5 (ss.ss. 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 30b 1-5 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 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. ss. 3507. ITEM 1. SCHEDULE OF INVESTMENTS PIMCO NEW YORK MUNICIPAL INCOME FUND SCHEDULE OF INVESTMENTS JANUARY 31, 2005 (unaudited) PRINCIPAL AMOUNT CREDIT RATINGS (000) (MOODY'S/S&P) VALUE* ----------------------------------------------------------------------------------------------------------------------------------- NEW YORK MUNICIPAL BONDS & NOTES - 81.3% $3,265 Albany Indl. Dev. Agcy. Civic Fac. Rev., 5.30%, 4/1/29, Ser. A ............................. Baa3/NR $3,386,262 1,000 Long Island Power Auth. Electric System Rev., 5.375%, 5/1/33 Ser. L (a) ................................................................ A3/A- 1,047,660 Metropolitan Transportation Auth., NY Service Contract, Ser. A, 6,040 5.00%, 7/1/25 (FGIC) ..................................................................... Aaa/AAA 6,380,233 8,150 5.00%, 7/1/30 (AMBAC) .................................................................... Aaa/AAA 8,503,221 1,375 5.125%, 1/1/29 ........................................................................... A2/AA- 1,434,758 1,500 Monroe Tobacco Asset Securitization Corp. Rev., 6.375%, 6/1/35 ............................. Ba1/BBB 1,523,580 New York City, GO, Ser. J, 5,000 5.125%, 5/15/29 (MBIA) ................................................................... Aaa/AAA 5,195,200 300 5.25%, 6/1/28 ............................................................................ A2/A 318,675 New York City Municipal Water Finance Auth., Water & Sewer System Rev., 7,605 4.75%, 6/15/31, Ser. A (FGIC) ............................................................ Aaa/AAA 7,706,299 7,000 5.125%, 6/15/21, Ser. A (AMBAC) .......................................................... Aaa/AAA 7,297,640 5,000 5.125%, 6/15/33, Ser. C .................................................................. Aa2/AA+ 5,228,900 5,000 5.25%, 6/15/25, Ser. D ................................................................... Aa2/AA+ 5,395,600 2,250 New York City Transitional Finance Auth, Rev., 4.75%, 11/15/23, Ser. B .................................................................. Aa2/AA+ 2,310,570 1,000 Niagara Falls Public Water Auth., Water & Sewer System Rev., 5.00%, 7/15/34, Ser. A (MBIA) ............................................................ Aaa/AAA 1,045,530 8,000 Port Auth. of New York & New Jersey Rev., 5.00%, 9/1/29-9/1/38 ..................................................................... A1/AA- 8,365,100 4,515 Sachem Central School District of Holbrook, GO, 5.00%, 10/15/30, Ser B (MBIA) ............................................................ Aaa/AAA 4,722,058 6,550 State Dormitory Auth. Lease Rev., 4.75%, 1/15/29, Ser. 1 (FSA) ............................. Aaa/AAA 6,661,874 1,535 State Dormitory Auth. Rev., Augustana Lutheran Home for the Aged Inc., 5.50%, 2/1/31-2/1/41 (MBIA) .............................................................. Aaa/AAA 1,650,404 7,400 State Dormitory Auth. Rev., Lenox Hill Hospital Obligation Group, 5.50%, 7/1/30 ............................................................................ Baa2/NR 7,575,824 4,000 State Dormitory Auth. Rev., Memorial Sloan-Kettering Center, 5.00%, 7/1/34, Ser. 1 .................................................................... Aa2/AA 4,152,800 State Dormitory Auth. Rev., Mental Health Services Fac. Improvement, Ser. D, (MBIA) 7,985 4.75%, 2/15/25 ........................................................................... Aaa/AAA 8,117,232 15 4.75%, 2/15/25 (Pre-refunded @ 100, 8/15/08) (b) ......................................... Aaa/AAA 16,261 1,825 State Dormitory Auth. Rev., Mount Sinai Health, 6.50%, 7/1/25, Ser. A .................................................................... Ba1/BB 1,928,167 7,000 State Dormitory Auth. Rev., New York & Presbyterian Hospital, 4.75%, 8/1/27 (AMBAC) .................................................................... Aaa/AAA 7,124,460 845 State Dormitory Auth. Rev., New York Univ., 5.50%, 7/1/20-7/1/21, Ser. 2 (AMBAC) ..................................................... Aaa/AAA 944,599 State Dormitory Auth. Rev., State Univ., Ser B. (FSA) 1,045 4.75%, 5/15/28 ........................................................................... Aaa/AAA 1,065,461 1,270 4.75%, 5/15/28 (Pre-refunded @ 101, 5/15/08) (b) ......................................... Aaa/AAA 1,372,870 1,275 State Dormitory Auth. Rev., Winthrop Univ. Hospital Assoc., 5.25%, 7/1/31, Ser. A (AMBAC) ............................................................ Aaa/AAA 1,362,248 5,000 State Thruway Auth. General Rev., 4.75%, 1/1/19, Ser. E .................................... Aa3/AA- 5,171,600 3,975 State Urban Dev. Corp. Rev., Correctional Facility Service, 4.75%, 1/1/28, Ser. B (Pre-refunded @101, 1/1/09) (AMBAC) (b)............................. Aaa/AAA 4,323,607 130 Tobacco Trust II Rev., 5.75%, 6/1/43 ....................................................... Ba1/BBB 122,000 7,000 Triborough Bridge & Tunnel Auth. Rev., 5.00%, 1/1/27-1/1/32, Ser. A ........................ Aa3/AA- 7,251,980 2,945 Warren & Washington Cntys., Indl. Dev. Agcy., Glens Falls Hospital Project, 5.00%, 12/1/27, Ser. C (FSA) ............................... Aaa/AAA 3,112,659 -------------- Total New York Municipal Bonds & Notes (cost-$123,877,366) ................................. 131,815,332 -------------- PIMCO NEW YORK MUNICIPAL INCOME FUND SCHEDULE OF INVESTMENTS JANUARY 31, 2005 (unaudited) (continued) PRINCIPAL AMOUNT CREDIT RATINGS (000) (MOODY'S/S&P) VALUE* ---------------------------------------------------------------------------------------------------------------------------------- OTHER MUNICIPAL BONDS & NOTES-5.3% ILLINOIS - 2.6% $4,000 Educational Facs. Auth Rev., 5.00%, 7/1/33, Ser. A ...................................... Aa1/AA $4,149,960 --------------- LOUISIANA-0.4% 750 Tobacco Settlement Financing Corp., 5.875%, 5/15/39, Ser. 2001-B ........................ Baa3/BBB 705,352 --------------- PUERTO RICO-2.3% 195 Commonwealth GO, 5.00%, 7/1/11, Ser. A .................................................. Baa1/AAA 216,507 1,500 Commonwealth Highway & Transportation Auth Rev., 5.25%, 7/1/38, Ser. D ................................................................. Baa1/A 1,576,920 500 Electric Power Auth. Power Rev., 5.125%, 7/1/29, Ser. NN................................ A3/A- 525,955 1,300 Public Finance Corp., 5.75%, 8/1/27, Ser. A ............................................. Baa2/BBB+ 1,462,916 --------------- 3,782,298 --------------- Total Other Municipal Bonds & Notes (cost-$8,210,336) ................................... 8,637,610 --------------- CALIFORNIA VARIABLE RATE NOTES (c) (d) (e)-1.2% 1,240 State Economic Recovery, 17.895%, 1/1/10, Ser. 935 (cost-$1,679,949) .................... Aa3/NR 1,932,292 --------------- NEW YORK VARIABLE RATE NOTES (c) (d) (e)-9.5% 5,173 New York City Transitional Finance Auth. Rev., 7.37%, 11/1/23, Ser. 362 .............................................................. Aa2/NR 5,498,057 Tobacco Trust II Rev., 11,020 8.35%-8.59%, 12/1/09 .................................................................. A1/A 9,834,502 --------------- Total New York Variable Rate Notes (cost-$15,996,807) ................................... 15,332,559 --------------- NEW YORK VARIABLE RATE DEMAND NOTES (c) (f)-1.8% 500 New York City, GO, 1.88%, 2/1/05, Ser. B2. .............................................. VMIG1/A-1+ 500,000 1,000 New York City Industrial Dev. Agcy. Rev., 1.94%, 2/1/05 ................................. VMIG1/A-1+ 1,000,000 1,500 State Local Government Assistance Corp., 1.74%, 2/2/05, Ser. A (FGIC) .......................................................... Aaa/A-1+ 1,500,000 --------------- Total New York Variable Rate Demand Notes (cost-$3,000,000) ............................. 3,000,000 --------------- CALIFORNIA VARIABLE RATE DEMAND NOTES (c) (f)-0.2% 300 Metropolitan Water District, Southern California Waterworks Rev., 1.90%, 2/1/05, Ser. B-3 (cost-$300,000) ............................................... VMIG1/A-1+ 300,000 --------------- U.S. TREASURY BILLS (g)-1.4% 2,335 2.13%-2.16%, 3/3/05-3/17/05 (cost-$2,328,838) ......................................... AAA/AAA 2,328,937 --------------- Total Investments before call options written (cost-$155,393,296)-100.7% ................ 163,346,730 --------------- CALL OPTIONS WRITTEN (h)-(0.7)% Contracts U.S. Treasury Bond Futures, Chicago Board of Trade: (89) Strike price $106, expires 2/18/05 .............................................. (787,094) (47) Strike price $106, expires 2/18/05 .............................................. (294,484) (82) Strike price $113, expires 2/18/05 .............................................. (19,219) --------------- Total call options written (premiums received-$914,401) ................................. (1,100,797) --------------- Total Investments (cost-$154,478,895)-100.0% ............................................ $162,245,933 --------------- PIMCO NEW YORK MUNICIPAL INCOME FUND SCHEDULE OF INVESTMENTS JANUARY 31, 2005 (unaudited) (continued) (a) Futures contracts outstanding at January 31, 2005: Notional Amount Expiration Unrealized Type (000) Date Depreciation ------------------------------------------------------------------------------- Short: U.S. Treasury 20 Year Bond (376) 3/21/2005 $ 954,688 Long: Financial Future Euro - 90 day 350 9/19/2005 227,500 ---------------- $ 1,182,188 ----------------- NOTES TO SCHEDULES OF INVESTMENTS: *Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Portfolio securities and other financial instruments for which market quotations are not readily available or if a development/event occurs that may impact the value of the security may be fair-valued in good faith pursuant to guidelines established by the Board of Trustees. The Fund's investments are valued daily by an independent pricing service. Prices obtained from an independent pricing services use information provided by market makers or estimates of market value obtained from yield data relating to investments or securities with similar characteristics. Short-term investments maturing in 60 days or less are valued at amortized cost, if their original maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days. Exchange traded options, futures, and options on futures are valued at the settlement price determined by the relevant exchange. The prices used by the Fund to value securities may differ from the value that would be realized if the securities were sold. The Fund's net asset value is determined daily at the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange. (a) Illiquid security. (b) Pre-refunded bonds are collateralized by U.S. Government or other eligible securities which are held in escrow and used to pay principal and interest and retire the bonds at the earliest refundung date. (c) Variable Rate Notes - Interest rates change on specified date (such as a coupon date or interest payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). (d) 144A Security - Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified institutional investors. (e) Residual Interest/Tax Exempt Municipal Bonds. The interest rate shown bears an inverse relationship to the interest rate on another security or the value of an index. (f) Maturity date shown is date of next call. (g) All or partial amount segregated as initial margin on futures contracts. (h) Non-income producing security. Glossary: AMBAC-insured by American Municipal Bond Assurance Corp. FGIC-insured by Financial Guaranty Insurance Co. FSA-Insured by Financial Security Assurance, Inc. GO-General Obligation Bonds MBIA-insured by Municipal Bond Investors Assurance NR-Not Rated ITEM 2. CONTROLS AND PROCEDURES (a) The registrant's President and Chief Executive Officer and Principal Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document. (b) There were no significant changes in the registrant's internal controls or in factors that could affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. ITEM 3. EXHIBITS (a) Exhibit 99.302 Cert. - Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 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: PIMCO New York Municipal Income Fund By /s/ Brian S. Shlissel President & Chief Executive Officer Date: March 22, 2005 By /s/ Lawrence G. Altadonna Treasurer, Principal Financial & Accounting Officer Date: March 22, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dated indicated. By /s/ Brian S. Shlissel President & Chief Executive Officer Date: March 22, 2005 By /s/ Lawrence G. Altadonna Treasurer, Principal Financial & Accounting Officer Date: March 22, 2005