UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-6398

Fidelity New York Municipal Trust II
(Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Scott C. Goebel, Secretary

245 Summer St.

Boston, Massachusetts 02210
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	January 31

Date of reporting period:	January 31, 2015

Item 1. Reports to Stockholders

Fidelity®

New York Municipal
Money Market
Fund

Annual Report

January 31, 2015

(Fidelity Cover Art)

Shareholder Expense Example	(Click Here)	An example of shareholder expenses.
Investment Changes/ Performance	(Click Here)	A summary of major shifts in the fund's investments over the past six months and one year.
Investments	(Click Here)	A complete list of the fund's investments.
Financial Statements	(Click Here)	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	(Click Here)	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	(Click Here)
Trustees and Officers	(Click Here)
Distributions	(Click Here)
Board Approval of Investment Advisory Contracts and Management Fees	(Click Here)

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Annual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2014 to January 31, 2015).

Actual Expenses

The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.

Annual Report

	Annualized Expense Ratio ^B	Beginning Account Value August 1, 2014	Ending Account Value January 31, 2015	Expenses Paid During Period* August 1, 2014 to January 31, 2015
Actual	.06%	$ 1,000.00	$ 1,000.10	$ .30
Hypothetical ^A		$ 1,000.00	$ 1,024.90	$ .31

^A 5% return per year before expenses

^B Annualized expense ratio reflects expenses net of applicable fee waivers.

* Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

Annual Report

Investment Changes/Performance (Unaudited)

Effective Maturity Diversification
Days	% of fund's investments 1/31/15	% of fund's investments 7/31/14	% of fund's investments 1/31/14
1 - 7	69.4	77.4	68.3
8 - 30	3.6	4.3	8.5
31 - 60	5.5	2.2	5.2
61 - 90	2.6	4.3	2.6
91 - 180	14.5	4.4	7.6
> 180	4.4	7.4	7.8

Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940.

Weighted Average Maturity
	1/31/15	7/31/14	1/31/14
Fidelity New York Municipal Money Market Fund	41 Days	36 Days	39 Days
New York Tax-Free Money Market Funds Average*	34 Days	37 Days	32 Days

This is a weighted average of all the maturities of the securities held in a fund. Weighted Average Maturity (WAM) can be used as a measure of sensitivity to interest rate changes and market changes. Generally, the longer the maturity, the greater the sensitivity to such changes. WAM is based on the dollar-weighted average length of time until principal payments must be paid. Depending on the types of securities held in a fund, certain maturity shortening devices (e.g., demand features, interest rate resets, and call options) may be taken into account when calculating the WAM.

Weighted Average Life
	1/31/15	7/31/14	1/31/14
Fidelity New York Municipal Money Market Fund	41 Days	36 Days	39 Days

Weighted Average Life (WAL) is the weighted average of the life of the securities held in a fund or portfolio and can be used as a measure of sensitivity to changes in liquidity and/or credit risk. Generally, the higher the value, the greater the sensitivity. WAL is based on the dollar-weighted average length of time until principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets. The difference between WAM and WAL is that WAM takes into account interest rate resets and WAL does not. WAL for money market funds is not the same as WAL of a mortgage- or asset-backed security.

* Source: iMoneyNet, Inc.

Annual Report

Asset Allocation (% of fund's net assets)
As of January 31, 2015		As of July 31, 2014
	Variable Rate Demand Notes (VRDNs) 68.1%		Variable Rate Demand Notes (VRDNs) 69.8%
	Other Municipal Debt 31.9%		Other Municipal Debt 29.2%
	Investment Companies 0.2%		Investment Companies 1.4%
	Net Other Assets (Liabilities)^† (0.2)%		Net Other Assets (Liabilities)^† (0.4)%

nfs7952508

^† Net Other Assets (Liabilities) are not included in the pie chart.

Current and Historical Seven-Day Yields
	1/31/15	10/31/14	7/31/14	4/30/14	1/31/14
Fidelity New York Municipal Money Market Fund	0.01%	0.01%	0.01%	0.01%	0.01%

Yield refers to the income paid by the fund over a given period. Yields for money market funds are usually for seven-day periods, as they are here, though they are expressed as annual percentage rates. Past performance is no guarantee of future results. Yield will vary and its possible to lose money investing in the Fund. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending January 31, 2015, the most recent period shown in the table, would have been -0.43%.

Annual Report

Investments January 31, 2015

Showing Percentage of Net Assets

Variable Rate Demand Note - 68.1%
	Principal Amount		Value
Alabama - 0.1%
Decatur Indl. Dev. Board Exempt Facilities Rev. (Nucor Steel Decatur LLC Proj.) Series 2003 A, 0.23% 2/6/15, VRDN (c)(f)	$ 3,200,000		$ 3,200,000
Arizona - 0.0%
Maricopa County Poll. Cont. Rev. (Arizona Pub. Svc. Co. Palo Verde Proj.) Series 2009 A, 0.26% 2/6/15, VRDN (c)	700,000		700,000
Delaware - 0.0%
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.) Series 1994, 0.08% 2/2/15, VRDN (c)(f)	1,100,000		1,100,000
Florida - 0.1%
Jacksonville Econ. Dev. Commission Indl. Dev. Rev. (STI Proj.) Series 2002, 0.03% 2/6/15, LOC HSBC Bank U.S.A., NA, VRDN (c)(f)	7,350,000		7,350,000
Tamarac Indl. Dev. Rev. (Fazio Hldgs. LP Proj.) Series 2000, 0.18% 2/6/15, LOC Wells Fargo Bank NA, VRDN (c)(f)	600,000		600,000
			7,950,000
Georgia - 0.1%
Kennesaw Dev. Auth. Multi-family Hsg. Rev. (Alta Ridenour Apts. Proj.) Series 2008, 0.04% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	7,350,000		7,350,000
Indiana - 0.0%
Indiana Hsg. & Cmnty. Dev. Auth. Single Family Mtg. Rev. Participating VRDN Series Merlots 07 C52, 0.08% 2/6/15 (Liquidity Facility Wells Fargo Bank NA) (c)(f)(g)	670,000		670,000
Louisiana - 0.1%
Louisiana Pub. Facilities Auth. Rev. (Air Products & Chemicals, Inc. Proj.) Series 2002, 0.03% 2/6/15, VRDN (c)(f)	3,900,000		3,900,000
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.) Series 2010 B1, 0.2% 2/6/15, VRDN (c)	2,000,000		2,000,000
			5,900,000
Montana - 0.1%
Forsyth Poll. Cont. Rev. Series 2008 A, 0.19% 2/6/15, VRDN (c)(f)	3,450,000		3,450,000
Nebraska - 0.1%
Stanton County Indl. Dev. Rev. (Nucor Corp. Proj.) Series 1996, 0.23% 2/6/15, VRDN (c)(f)	3,200,000		3,200,000
New Jersey - 0.2%
JPMorgan Chase NA Letter of Credit Participating VRDN Series Putters 4462, 0.04% 2/2/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	8,800,000		8,800,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New Jersey - continued
Salem County Poll. Cont. Fin. Auth. Rev. (Pub. Svc. Elec. and Gas Co. Proj.):
Series 2003 B1, 0.16% 2/6/15, VRDN (c)	$ 1,600,000		$ 1,600,000
Series 2012 A, 0.16% 2/6/15, VRDN (c)(f)	3,100,000		3,100,000
			13,500,000
New York - 62.5%
Buffalo Muni. Wtr. Fin. Auth. Series 2008 A, 0.02% 2/6/15, LOC JPMorgan Chase Bank, VRDN (c)	3,800,000		3,800,000
Chemung County Indl. Dev. Agcy. Indl. Dev. Rev. (Med. Mgmt. & Rehabilitation Svc. 2nd Prog. Trayer, Inc. Proj.) Series A, 0.2% 2/6/15, LOC HSBC Bank U.S.A., NA, VRDN (c)(f)	370,000		370,000
East Rochester Hsg. Auth. Rev. (Daniel's Creek at Baytowne Proj.) Series 2001, 0.08% 2/6/15, LOC HSBC Bank U.S.A., NA, VRDN (c)(f)	7,375,000		7,375,000
Liberty Dev. Corp. Rev. (377 Greenwich LLC Proj.) Series 2004, 0.01% 2/6/15, LOC Wells Fargo Bank NA, VRDN (c)	12,725,000		12,725,000
Long Island Pwr. Auth. Elec. Sys. Rev. Series 1A, 0.06% 2/6/15, LOC Bayerische Landesbank Girozentrale, VRDN (c)	65,400,000		65,400,000
Nassau Health Care Corp. Rev. Series 2009 D2, 0.04% 2/6/15, LOC JPMorgan Chase Bank, VRDN (c)	27,775,000		27,775,000
New York City Gen. Oblig.:
Participating VRDN:
Series MS 3324, 0.02% 2/6/15 (Liquidity Facility Cr. Suisse AG) (c)(g)	6,650,000		6,650,000
Series Putters 14 0013, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	3,330,000		3,330,000
Series Putters 2949, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	14,170,000		14,170,000
Series Putters 3118, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	5,180,000		5,180,000
Series Putters 3793, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	5,000,000		5,000,000
Series Putters 4345, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	3,750,000		3,750,000
Series Putters 4434Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	3,435,000		3,435,000
Series Putters 4447Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	2,500,000		2,500,000
Series ROC II R 14045, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	11,350,000		11,350,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Gen. Oblig.: - continued
Participating VRDN: - continued
Series 1995 B8, 0.03% 2/6/15, LOC Bayerische Landesbank Girozentrale, VRDN (c)	$ 31,300,000		$ 31,300,000
Series 1995 B9, 0.02% 2/6/15, LOC JPMorgan Chase Bank, VRDN (c)	3,000,000		3,000,000
Series 1995 F5, 0.03% 2/6/15, LOC Bayerische Landesbank Girozentrale, VRDN (c)	20,000,000		20,000,000
Series 2003 C2, 0.03% 2/6/15, LOC Bayerische Landesbank Girozentrale, VRDN (c)	5,690,000		5,690,000
Series 2004 A2, 0.02% 2/6/15, LOC Bank of America NA, VRDN (c)	61,000,000		61,000,000
Series 2004 A3, 0.03% 2/6/15, LOC Morgan Stanley Bank, West Valley City Utah, VRDN (c)	31,590,000		31,590,000
Series 2004 H2 0.02% 2/6/15, LOC California Pub. Employees Retirement Sys., VRDN (c)	12,705,000		12,705,000
Series 2004 H8, 0.01% 2/6/15 (Liquidity Facility Bank of America NA), VRDN (c)	15,000,000		15,000,000
Series 2006 H1, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)	7,000,000		7,000,000
Series 2006 I3, 0.02% 2/2/15, LOC Bank of America NA, VRDN (c)	16,100,000		16,100,000
Series 2008 J6, 0.02% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	6,505,000		6,505,000
Series 2011 A4, 0.02% 2/6/15, LOC Bank of Tokyo-Mitsubishi UFJ Ltd., VRDN (c)	13,700,000		13,700,000
Series 2012 D3A, 0.01% 2/2/15, LOC California Pub. Employees Retirement Sys., VRDN (c)	8,600,000		8,600,000
Series 2012D 3B, 0.01% 2/2/15, LOC Royal Bank of Canada, VRDN (c)	3,785,000		3,785,000
Series 2013 A3, 0.01% 2/2/15 (Liquidity Facility Mizuho Corporate Bank Ltd.), VRDN (c)	11,225,000		11,225,000
Series 2013 F3, 0.01% 2/2/15 (Liquidity Facility Bank of America NA), VRDN (c)	9,050,000		9,050,000
Series 2014 D4, 0.01% 2/2/15, LOC TD Banknorth, NA, VRDN (c)	3,000,000		3,000,000
Series 2104 1, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)	1,000,000		1,000,000
New York City Health & Hosp. Corp. Rev. Series 2008 E, 0.02% 2/6/15, LOC JPMorgan Chase Bank, VRDN (c)	1,225,000		1,225,000
New York City Hsg. Dev. Corp. Multi-family Hsg. Mtg. Rev. (The Crest Proj.) Series 2005 A, 0.03% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	47,300,000		47,300,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Hsg. Dev. Corp. Multi-family Mtg. Rev.:
(15 East Clark Place Apts. Proj.) Series A, 0.03% 2/6/15, LOC JPMorgan Chase Bank, VRDN (c)(f)	$ 5,430,000		$ 5,430,000
(Aldus Street Apts. Proj.) Series A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	6,035,000		6,035,000
(Beacon Mews Dev. Proj.) Series 2006 A, 0.03% 2/6/15, LOC Citibank NA, VRDN (c)(f)	15,500,000		15,500,000
(Bruckner by the Bridge Proj.) Series 2008 A, 0.01% 2/6/15, LOC Freddie Mac, VRDN (c)	14,900,000		14,900,000
(Elliott Chelsea Dev. Proj.) Series 2010 A, 0.01% 2/6/15, LOC Freddie Mac, VRDN (c)	9,525,000		9,525,000
(First Avenue Dev. Proj.) Series 2002 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	19,795,000		19,795,000
(Grace Towers Dev. Proj.) Series 2005 A, 0.03% 2/6/15, LOC Citibank NA, VRDN (c)(f)	10,000,000		10,000,000
(La Casa del Sol Proj.) Series 2005 A, 0.03% 2/6/15, LOC Citibank NA, VRDN (c)(f)	4,550,000		4,550,000
(Manhattan Court Dev. Proj.) Series A, 0.04% 2/6/15, LOC Citibank NA, VRDN (c)(f)	1,000,000		1,000,000
(Peter Cintron Apts. Proj.) Series C, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	3,700,000		3,700,000
(Related-Upper East Proj.) Series A, 0.04% 2/6/15, LOC Landesbank Baden-Wuert, VRDN (c)(f)	17,200,000		17,200,000
(Spring Creek Hsg. Proj.) Series 2006 A, 0.02% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	21,000,000		21,000,000
(State Renaissance Court Proj.) Series A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	6,500,000		6,500,000
(Thessalonica Court Apts. Proj.) Series A, 0.03% 2/6/15, LOC Citibank NA, VRDN (c)(f)	16,700,000		16,700,000
(Urban Horizons II Dev. Proj.) Series 2005 A, 0.03% 2/6/15, LOC Citibank NA, VRDN (c)(f)	5,465,000		5,465,000
(West 48th Street Dev. Proj.) Series 2001 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	18,000,000		18,000,000
New York City Hsg. Dev. Corp. Multi-family Rental Hsg. Rev.:
(155 West 21st Street Dev. Proj.) Series 2007 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	21,000,000		21,000,000
(Morris Avenue Apts. Proj.) Series A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	23,600,000		23,600,000
(One Columbus Place Dev. Proj.) Series A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	49,200,000		49,200,000
(West 61st Street Apts. Proj.) Series 2007 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	15,000,000		15,000,000
Series 2009 A, 0.02% 2/6/15, LOC Freddie Mac, VRDN (c)	7,900,000		7,900,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Indl. Dev. Agcy. Civic Facility Rev. (Planned Parenthood Proj.) 0.1% 2/6/15, LOC Bank of America NA, VRDN (c)	$ 3,735,000		$ 3,735,000
New York City Indl. Dev. Agcy. Indl. Dev. Rev. (Tiago Hldgs., LLC Proj.) Series 2007, 0.04% 2/6/15, LOC Lloyds Bank PLC, VRDN (c)(f)	40,000,000		40,000,000
New York City Indl. Dev. Agcy. Solid Waste Facility Rev. (U.S.A. Waste Svcs. Proj.) 0.04% 2/6/15, LOC JPMorgan Chase Bank, VRDN (c)(f)	18,600,000		18,600,000
New York City Indl. Dev. Agcy. Spl. Facilities Rev. (New York Stock Exchange Proj.) Series 2004 B, 0.02% 2/6/15, LOC Bank of America NA, VRDN (c)	25,000,000		25,000,000
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.:
Participating VRDN:
Series 1WX, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (c)(g)	2,000,000		2,000,000
Series BA 08 1206, 0.1% 2/6/15 (Liquidity Facility Deutsche Bank AG New York Branch) (c)(g)	9,000,000		9,000,000
Series BC 13 16U, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (c)(g)	2,000,000		2,000,000
Series BC 13 3WX, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (c)(g)	8,125,000		8,125,000
Series EGL 06 74 Class A, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	13,000,000		13,000,000
Series EGL 09 46A, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	9,900,000		9,900,000
Series Floaters 3129, 0.02% 2/6/15 (Liquidity Facility Cr. Suisse AG) (c)(g)	24,860,000		24,860,000
Series MS 3362, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(g)	5,000,000		5,000,000
Series MS 3373, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(g)	5,980,000		5,980,000
Series Putters 14 4450, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	18,030,000		18,030,000
Series Putters 3223, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	1,670,000		1,670,000
Series Putters 3384, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	1,875,000		1,875,000
Series Putters 3484, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	2,515,000		2,515,000
Series Putters 3496Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	7,050,000		7,050,000
Series Putters 3497Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	13,025,000		13,025,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.: - continued
Participating VRDN: - continued
Series Putters 4378, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	$ 4,715,000		$ 4,715,000
Series Putters 4413, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	8,940,000		8,940,000
Series Putters 4417, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	23,535,000		23,535,000
Series RBC O 23, 0.02% 2/6/15 (Liquidity Facility Royal Bank of Canada) (c)(g)	8,265,000		8,265,000
Series ROC II R 11916, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	5,020,000		5,020,000
Series ROC II R 11931, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	6,815,000		6,815,000
Series ROC II R 11966, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	10,000,000		10,000,000
Series 2001 F1, 0.02% 2/2/15 (Liquidity Facility Mizuho Corporate Bank Ltd.), VRDN (c)	6,500,000		6,500,000
Series 2008 B3, 0.01% 2/2/15 (Liquidity Facility Bank of America NA), VRDN (c)	19,640,000		19,640,000
Series 2008 BB2, 0.01% 2/2/15 (Liquidity Facility Bank of America NA), VRDN (c)	8,300,000		8,300,000
Series 2009 BB2, 0.03% 2/2/15 (Liquidity Facility Landesbank Hessen-Thuringen), VRDN (c)	15,500,000		15,500,000
Series 2011 DD-3A, 0.01% 2/2/15 (Liquidity Facility U.S. Bank NA, Cincinnati), VRDN (c)	1,600,000		1,600,000
Series 2012 B, 0.01% 2/2/15 (Liquidity Facility U.S. Bank NA, Cincinnati), VRDN (c)	5,190,000		5,190,000
Series 2012 B3, 0.01% 2/2/15 (Liquidity Facility State Street Bank & Trust Co., Boston), VRDN (c)	2,000,000		2,000,000
Series 2014 AA, 0.03% 2/2/15 (Liquidity Facility Mizuho Corporate Bank Ltd.), VRDN (c)	6,000,000		6,000,000
Series 2014 BB1, 0.01% 2/2/15 (Liquidity Facility Bank of America NA), VRDN (c)	18,800,000		18,800,000
Series 2014 BB4, 0.01% 2/2/15 (Liquidity Facility Wells Fargo Bank NA), VRDN (c)	19,210,000		19,210,000
New York City Transitional Fin. Auth. Rev.:
Participating VRDN:
Series BC 11 8B, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (c)(g)	9,300,000		9,300,000
Series MS 3358, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(g)	5,165,000		5,165,000
Series MS 3399, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(g)	2,115,000		2,115,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Transitional Fin. Auth. Rev.: - continued
Participating VRDN: - continued
Series Putters 3544, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	$ 10,655,000		$ 10,655,000
Series Putters 4043, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase & Co.) (c)(g)	19,730,000		19,730,000
Series Putters 4084Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	3,850,000		3,850,000
Series Putters 4331, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	3,240,000		3,240,000
Series Putters 4399, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	5,000,000		5,000,000
Series Putters 4502Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	3,125,000		3,125,000
Series RBC O 65, 0.02% 2/6/15 (Liquidity Facility Royal Bank of Canada) (c)(g)	4,500,000		4,500,000
Series RBC O 84, 0.02% 2/6/15 (Liquidity Facility Royal Bank of Canada) (c)(g)	3,270,000		3,270,000
Series ROC II R 11994, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	8,880,000		8,880,000
Series ROC II R 14082, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	6,380,000		6,380,000
Series 2003 1A, 0.02% 2/6/15 (Liquidity Facility Landesbank Hessen-Thuringen), VRDN (c)	2,480,000		2,480,000
Series 2003 A2, 0.02% 2/2/15 (Liquidity Facility Bank of Tokyo-Mitsubishi UFJ Ltd.), VRDN (c)	64,000,000		64,000,000
Series 2003 A4, 0.01% 2/2/15 (Liquidity Facility TD Banknorth, NA), VRDN (c)	14,000,000		14,000,000
Series 2003 C2, 0.04% 2/2/15 (Liquidity Facility Landesbank Hessen-Thuringen), VRDN (c)	30,950,000		30,950,000
Series 2013 A4, 0.01% 2/2/15 (Liquidity Facility Northern Trust Co.), VRDN (c)	7,900,000		7,900,000
Series 2013 A6, 0.01% 2/2/15 (Liquidity Facility California Teachers Retirement Sys.), VRDN (c)	7,150,000		7,150,000
Series C, 0.02% 2/2/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah), VRDN (c)	6,600,000		6,600,000
New York City Trust Cultural Resources Rev.:
(Alvin Ailey Dance Foundation, Inc. Proj.) Series 2003, 0.03% 2/6/15, LOC Citibank NA, VRDN (c)	11,980,000		11,980,000
(Lincoln Ctr. for the Performing Arts, Inc. Proj.) Series 2008 A1, 0.02% 2/2/15, LOC JPMorgan Chase Bank, VRDN (c)	3,000,000		3,000,000
Participating VRDN Series ROC II R 11927, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	6,000,000		6,000,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York Dorm. Auth. Personal Income Tax Rev. Participating VRDN:
Series 3792Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	$ 6,365,000		$ 6,365,000
Series MS 3275, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(g)	10,000,000		10,000,000
Series Putters 14 0014, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	10,000,000		10,000,000
Series Putters 3281Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	6,120,000		6,120,000
Series Putters 3518, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	12,685,000		12,685,000
Series ROC II R 11984, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	5,000,000		5,000,000
New York Dorm. Auth. Revs.:
(Catholic Heath Sys. Obligated Group Proj.) Series 2008, 0.02% 2/6/15, LOC HSBC Bank U.S.A., NA, VRDN (c)	3,075,000		3,075,000
(College of New Rochelle Proj.) Series 2008, 0.06% 2/6/15, LOC RBS Citizens NA, VRDN (c)	13,600,000		13,600,000
(The Culinary Institute of America Proj.):
Series 2004 C, 0.02% 2/6/15, LOC TD Banknorth, NA, VRDN (c)	9,825,000		9,825,000
Series 2006, 0.02% 2/6/15, LOC TD Banknorth, NA, VRDN (c)	6,250,000		6,250,000
Participating VRDN:
ROC II R 11944, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	11,400,000		11,400,000
Series EGL 06 47 Class A, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	8,385,000		8,385,000
Series EGL 07 0002, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	11,950,000		11,950,000
Series EGL 07 0066, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	4,000,000		4,000,000
Series Putters 1955, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	10,140,000		10,140,000
Series Putters 3382, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	4,995,000		4,995,000
Series Putters 3383, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	14,995,000		14,995,000
Series Putters 3803, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	6,000,000		6,000,000
Series ROC II R 11722, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	9,870,000		9,870,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York Dorm. Auth. Revs.: - continued
Participating VRDN: - continued
Series ROC II R 11955, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	$ 9,000,000		$ 9,000,000
Series ROC II R 11975, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	5,290,000		5,290,000
New York Envir. Facilities Corp. Clean Wtr. & Drinking Wtr. Participating VRDN:
Series Putters 3376, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	4,450,000		4,450,000
Series ROC II R 11945, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	5,490,000		5,490,000
New York Hsg. Fin. Agcy. Rev.:
(125 West 31st Street Proj.) Series 2005 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	49,200,000		49,200,000
(150 East 44th Street Hsg. Proj.) Series 2000 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	3,250,000		3,250,000
(1500 Lexington Avenue Proj.) Series A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	30,000,000		30,000,000
(250 West 50th Street Hsg. Proj.) Series 1997 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	37,005,000		37,005,000
(316 Eleventh Ave. Hsg. Proj.) Series 2007 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	75,000,000		75,000,000
(330 Riverdale Avenue Apts. Proj.) Series 2008 A, 0.02% 2/6/15, LOC Bank of America NA, VRDN (c)	9,200,000		9,200,000
(350 West 43rd Street Hsg. Proj.):
Series 2001 A, 0.03% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)(f)	26,000,000		26,000,000
Series 2002 A, 0.03% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)(f)	34,090,000		34,090,000
(455 West 37th Street Hsg. Proj.) Series A, 0.03% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)(f)	15,000,000		15,000,000
(505 West 37th Street Proj.):
Series 2008 A, 0.06% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)(f)	46,000,000		46,000,000
Series 2009 A, 0.04% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	27,700,000		27,700,000
Series 2009 B, 0.04% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	18,200,000		18,200,000
(600 West and 42nd St. Hsg. Proj.):
Series 2007 A:
0.02% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	50,000,000		50,000,000
0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	182,235,000		182,235,004
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York Hsg. Fin. Agcy. Rev.: - continued
(600 West and 42nd St. Hsg. Proj.): - continued
Series 2008 A:
0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	$ 18,900,000		$ 18,900,000
0.04% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)(f)	5,090,000		5,090,000
Series 2012 A, 0.03% 2/6/15, LOC Manufacturers & Traders Trust Co., VRDN (c)	25,000,000		25,000,000
(80 DeKalb Ave. Hsg. Proj.):
Series 2009 A, 0.03% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	31,700,000		31,700,000
Series 2009 B, 0.03% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	17,760,000		17,760,000
(88 Leonard Street Proj.) Series 2005 A, 0.02% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	2,100,000		2,100,000
(900 Eighth Avenue Hsg. Proj.) Series 2002 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	30,500,000		30,500,000
(Chelsea Apts. Proj.) Series 2003 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	45,000,000		45,000,000
(Clinton Green North Hsg. Proj.):
Series 2005 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	40,000,000		40,000,000
Series 2006 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	34,000,000		34,000,000
(Clinton Green South Hsg. Proj.) Series 2006 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	46,500,000		46,500,000
(Grace Towers Hsg. Proj.) Series 2004 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	11,530,000		11,530,000
(Helena Hsg. Proj.) Series 2003 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	33,000,000		33,000,000
(Kew Garden Hills Apts. Hsg. Proj.) Series 2003 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	60,800,000		60,800,000
(Normandie Court II Hsg. Proj.) Series 1999 A, 0.02% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	30,470,000		30,470,000
(Saville Hsg. Proj.) Series 2002 A, 0.02% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	22,000,000		22,000,000
(Sea Park East Hsg. Proj.) Series 2004 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	13,300,000		13,300,000
(Sea Park West Hsg. Proj.) Series 2004 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	2,800,000		2,800,000
(South Cove Plaza Proj.) Series A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	4,000,000		4,000,000
(Talleyrand Crescent Hsg. Proj.) Series A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	28,320,000		28,320,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York Hsg. Fin. Agcy. Rev.: - continued
(Tower 31 Hsg. Proj.) Series 2005 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	$ 32,400,000		$ 32,400,000
(Tribeca Green Hsg. Proj.) Series 2003 A, 0.02% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	1,600,000		1,600,000
(Union Square South Proj.) Series 1996 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	41,550,000		41,550,000
Series 2001 A, 0.03% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	5,000,000		5,000,000
Series 2004 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	1,000,000		1,000,000
Series 2008 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	57,400,000		57,400,000
Series 2010 A:
0.06% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	3,900,000		3,900,000
0.06% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	26,000,000		26,000,000
Series 2012 A, 0.02% 2/6/15, LOC Wells Fargo Bank NA, VRDN (c)	8,500,000		8,500,000
Series 2012 A1, 0.02% 2/6/15, LOC Wells Fargo Bank NA, VRDN (c)	2,500,000		2,500,000
Series 2013 A, 0.02% 2/6/15, LOC Wells Fargo Bank NA, VRDN (c)	2,900,000		2,900,000
Series 2013 A2, 0.05% 2/6/15, LOC Manufacturers & Traders Trust Co., VRDN (c)	8,500,000		8,500,000
Series 2014 A:
0.02% 2/6/15, LOC Manufacturers & Traders Trust Co., VRDN (c)	6,750,000		6,750,000
0.02% 2/6/15, LOC Wells Fargo Bank NA, VRDN (c)	18,000,000		18,000,000
0.02% 2/6/15, LOC Wells Fargo Bank NA, VRDN (c)	8,700,000		8,700,000
Series 2014 A2, 0.05% 2/6/15, LOC Manufacturers & Traders Trust Co., VRDN (c)	11,200,000		11,200,000
New York Hsg. Fin. Svc. Contract Rev. Series 2003 L, 0.02% 2/6/15, LOC Bank of America NA, VRDN (c)	16,400,000		16,400,000
New York Liberty Dev. Corp. Participating VRDN Series Putters 4011 Z, 0.04% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	31,020,000		31,020,000
New York Local Govt. Assistance Corp. Series 2008 B7V, 0.02% 2/6/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (c)	16,500,000		16,500,000
New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev. Participating VRDN Series ROCS II R 12299, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	22,770,000		22,770,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York Metropolitan Trans. Auth. Rev.:
Series 2005 A, 0.01% 2/6/15, LOC Royal Bank of Canada, VRDN (c)	$ 6,000,000		$ 6,000,000
Series 2005 D1, 0.03% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	2,500,000		2,500,000
Series 2005 D2, 0.03% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (c)	6,410,000		6,410,000
New York State Energy Research & Dev. Auth. Facilities Rev.:
(Consolidated Edison Co. of New York, Inc. Proj.):
Series 2004 C1, 0.03% 2/6/15, LOC Mizuho Corporate Bank Ltd., VRDN (c)(f)	15,200,000		15,200,000
Series 2004 C3, 0.03% 2/6/15, LOC Mizuho Corporate Bank Ltd., VRDN (c)(f)	33,000,000		33,000,000
Series 2010 A2, 0.01% 2/6/15, LOC Bank of Nova Scotia, VRDN (c)(f)	26,000,000		26,000,000
Series 2010 A3, 0.03% 2/6/15, LOC Bank of Nova Scotia, VRDN (c)(f)	25,700,000		25,700,000
Series 2010 A, 0.03% 2/6/15, LOC Bank of Nova Scotia, VRDN (c)(f)	48,700,000		48,700,000
New York State Gen. Oblig. Participating VRDN Series ROC II R 11936, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	16,800,000		16,800,000
New York Thruway Auth. Second Gen. Hwy. & Bridge Trust Fund Participating VRDN Series ROC II R 11997, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	8,080,000		8,080,000
New York Urban Dev. Corp. Rev. Participating VRDN Series Putters 2750, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	12,170,000		12,170,000
Riverhead Indl. Dev. Auth. Indl. Dev. Rev. (Adchem Corp. Facility Proj.) Series 1998, 0.25% 2/6/15, LOC Citibank NA, VRDN (c)(f)	550,000		550,000
Triborough Bridge & Tunnel Auth. Revs.:
Participating VRDN:
Series BC 12 10W, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (a)(c)(g)	5,000,000		5,000,000
Series Putters 3330, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	36,730,000		36,730,000
Series Putters 3685, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	2,000,000		2,000,000
Series Putters 4405, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	5,800,000		5,800,000
Series Putters 4406, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	3,000,000		3,000,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
Triborough Bridge & Tunnel Auth. Revs.: - continued
Participating VRDN: - continued
Series ROC II R11934, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (c)(g)	$ 9,450,000		$ 9,450,000
Series 2003 B1, 0.02% 2/6/15, LOC PNC Bank NA, VRDN (c)	34,700,000		34,700,000
Series 2005 A, 0.02% 2/6/15, LOC TD Banknorth, NA, VRDN (c)	4,700,000		4,700,000
Series 2005 B3, 0.02% 2/6/15 (Liquidity Facility Bank of America NA), VRDN (c)	123,820,000		123,820,000
Util. Debt Securitization Auth. Participating VRDN:
Series Putters 4445Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	4,350,000		4,350,000
Series RBC O 74, 0.02% 2/6/15 (Liquidity Facility Royal Bank of Canada) (c)(g)	5,550,000		5,550,000
Westchester County Indl. Agcy. Rev. Series 2001, 0.22% 2/6/15, LOC RBS Citizens NA, VRDN (c)	5,000,000		5,000,000
			3,452,585,004
New York And New Jersey - 3.7%
Port Auth. of New York & New Jersey:
Participating VRDN:
Series BA 07 1043, 0.07% 2/6/15 (Liquidity Facility Bank of America NA) (c)(g)	3,700,000		3,700,000
Series BC 11 17B, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (a)(c)(g)	2,150,000		2,150,000
Series EGL 06 107 Class A, 0.06% 2/6/15 (Liquidity Facility Citibank NA) (c)(f)(g)	87,600,000		87,600,000
Series Floaters 14 0001, 0.05% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)	1,710,000		1,710,000
Series GS 08 31TP, 0.03% 2/6/15 (Liquidity Facility Wells Fargo & Co.) (c)(f)(g)	20,260,000		20,260,000
Series MS 3249, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (c)(g)	3,500,000		3,500,000
Series Putters 14 0002, 0.05% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)	8,885,000		8,885,000
Series Putters 14 0010, 0.05% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)	6,665,000		6,665,000
Series Putters 1546, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)	8,385,000		8,385,000
Series Putters 2945, 0.05% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)	1,665,000		1,665,000
Series Putters 3991 Z, 0.05% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)	5,415,000		5,415,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York And New Jersey - continued
Port Auth. of New York & New Jersey: - continued
Participating VRDN: - continued
Series Putters 3994, 0.05% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)	$ 6,500,000		$ 6,500,000
Series Putters 4001 Z, 0.05% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (c)(f)(g)	985,000		985,000
Series RBC O 18, 0.04% 2/6/15 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)	5,590,000		5,590,000
Series RBC O 19, 0.04% 2/6/15 (Liquidity Facility Royal Bank of Canada) (c)(f)(g)	7,700,000		7,700,000
Series ROC II R 11715, 0.06% 2/6/15 (Liquidity Facility Citibank NA) (c)(f)(g)	11,250,000		11,250,000
Series TD 0013, 0.05% 2/6/15 (Liquidity Facility Toronto-Dominion Bank) (c)(f)(g)	5,120,000		5,120,000
Series WF 08 2C, 0.08% 2/6/15 (Liquidity Facility Wells Fargo & Co.) (c)(f)(g)	8,710,000		8,710,000
Series 1991 2, 0.1% 3/2/15, VRDN (c)(f)(h)	6,400,000		6,400,000
Series 1997 1, 0.07% 3/2/15, VRDN (c)(h)	500,000		500,000
Series 1997 2, 0.07% 3/2/15, VRDN (c)(h)	1,000,000		1,000,000
			203,690,000
North Carolina - 0.5%
Hertford County Indl. Facilities Poll. Cont. Fing. Auth. (Nucor Corp. Proj.) Series 2000 A, 0.19% 2/6/15, VRDN (c)(f)	2,200,000		2,200,000
Parson County Indl. Facilities and Poll. Cont. Fing. Auth. (CertainTeed Gypsum NC, Inc. Proj.) Series 2010, 0.03% 2/6/15, LOC Cr. Industriel et Commercial, VRDN (c)	5,900,000		5,900,000
Sampson County Indl. Facilities & Poll. Cont. Fing. Auth. Envir. Facilities Rev. (Sampson County Disp., Inc. Proj.):
0.05% 2/6/15, LOC Bank of America NA, VRDN (c)(f)	15,000,000		15,000,000
0.05% 2/6/15, LOC Bank of America NA, VRDN (c)(f)	4,750,000		4,750,000
			27,850,000
Pennsylvania - 0.0%
Schuylkill County Indl. Dev. Auth. Rev. (KP Tamaqua LP Proj.) Series 2007, 0.14% 2/6/15, LOC Citizens Bank of Pennsylvania, VRDN (c)(f)	400,000		400,000
Tennessee - 0.1%
Clarksville Pub. Bldg. Auth. Rev. (Tennessee Muni. Bond Fund Proj.) Series 2003, 0.03% 2/2/15, LOC Bank of America NA, VRDN (c)	3,775,000		3,775,000
Texas - 0.4%
Calhoun Port Auth. Envir. Facilities Rev. (Formosa Plastics Corp. Texas Proj.) Series 2008, 0.04% 2/6/15, LOC Bank of America NA, VRDN (c)(f)	10,000,000		10,000,000
Variable Rate Demand Note - continued
	Principal Amount		Value
Texas - continued
Gulf Coast Waste Disp. Auth. Solid Waste Disp. Rev. (Waste Mgmt., Inc. Proj.) Series A, 0.05% 2/6/15, LOC JPMorgan Chase Bank, VRDN (c)(f)	$ 2,500,000		$ 2,500,000
Houston Hsg. Fin. Corp. Multi-family Hsg. Rev. (Mayfair Park Apts. Proj.) Series 2004, 0.04% 2/6/15, LOC Fannie Mae, VRDN (c)(f)	3,400,000		3,400,000
Port Arthur Navigation District Envir. Facilities Rev. (Motiva Enterprises LLC Proj.):
Series 2001 A, 0.12% 2/2/15, VRDN (c)	2,675,000		2,675,000
Series 2004, 0.13% 2/6/15, VRDN (c)(f)	2,200,000		2,200,000
Series 2010 B, 0.12% 2/2/15, VRDN (c)	2,400,000		2,400,000
Series 2010 C, 0.11% 2/2/15, VRDN (c)	400,000		400,000
			23,575,000
Virginia - 0.1%
Arlington County Indl. Dev. Auth. Multi-family Hsg. Rev. Series A, 0.04% 2/6/15, LOC Freddie Mac, VRDN (c)(f)	3,000,000		3,000,000
TOTAL VARIABLE RATE DEMAND NOTE (Cost $3,761,895,004)		3,761,895,004
Other Municipal Debt - 31.9%

Kentucky - 0.0%
Jefferson County Poll. Cont. Rev. Bonds (Louisville Gas & Elec. Co. Proj.) Series 2001 A, 0.2% tender 2/20/15, CP mode	2,100,000		2,100,000
Massachusetts - 0.2%
Massachusetts Indl. Fin. Agcy. Poll. Cont. Rev. Bonds (New England Pwr. Co. Proj.):
Series 1993 A, 0.25% tender 3/12/15, CP mode	2,800,000		2,800,000
Series 1993 B, 0.35% tender 2/26/15, CP mode	5,500,000		5,500,000
Massachusetts State Dev. Fin. Agcy. Elec. Util. Rev. Bonds (Nantucket Elec. Co. Proj.) Series 2007, 0.27% tender 3/3/15, CP mode (f)	1,600,000		1,600,000
			9,900,000
New Hampshire - 0.3%
New Hampshire Bus. Fin. Auth. Poll. Cont. Rev. Bonds (New England Pwr. Co. Proj.):
Series 1990 A, 0.32% tender 3/12/15, CP mode (f)	8,000,000		8,000,000
Series 1990 A1, 0.29% tender 3/3/15, CP mode (f)	6,400,000		6,400,000
Series 1990 A2, 0.32% tender 3/12/15, CP mode (f)	3,000,000		3,000,000
			17,400,000
Other Municipal Debt - continued
	Principal Amount		Value
New York - 27.4%
Albany County Gen. Oblig. TAN 0.75% 5/15/15	$ 8,400,000		$ 8,414,521
Amherst Central School District BAN Series 2014 A, 1% 6/24/15	10,920,000		10,955,852
Bedford Central School District BAN 1% 7/17/15	5,500,000		5,521,212
Bellmore-Merrick Central School District BAN 1% 7/24/15	7,700,000		7,718,868
Bethlehem Central School District BAN Series 2014, 1% 6/18/15	14,450,000		14,495,993
Briarcliff Manor Union Free School District BAN 1% 7/17/15	9,500,000		9,535,774
Cheektowaga Gen. Oblig. BAN 0.5% 7/16/15	27,744,000		27,790,279
Cheektowaga-Maryvale Union Free School District BAN Series 2014, 1% 6/24/15	9,250,000		9,278,532
Clarkstown Central School District BAN 1.25% 11/20/15	5,500,000		5,544,748
Commack Union Free School District TAN 1% 6/26/15	19,800,000		19,867,689
Deer Park Union Free School District TAN 1% 6/25/15	15,500,000		15,552,576
East Greenbush Central School District BAN Series 2014, 1% 2/17/15	9,030,000		9,033,175
East Hampton Union Free School District TAN 1% 6/25/15	10,800,000		10,835,357
East Syracuse-Minoa Central School District BAN 1.5% 10/9/15	8,600,000		8,671,627
Eastchester Union Free School District TAN 0.5% 2/26/15	11,200,000		11,202,961
Elwood Union Free School District TAN 1% 6/26/15	9,500,000		9,530,967
Gates Chili Central School District BAN 1% 6/26/15	8,900,000		8,929,982
Greece Central School District BAN 1% 6/26/15	7,700,000		7,724,104
Half Hollow Hills Central School District of Huntington & Babylon TAN 1% 6/25/15	36,600,000		36,724,129
Hampton Bays Union Free School District TAN 1% 6/19/15	10,300,000		10,333,001
Hauppauge Union Free School District TAN 1% 6/26/15	19,800,000		19,869,332
Hempstead Town Gen. Oblig. Bonds Series 2014 B, 3% 2/1/15	7,400,000		7,400,000
Hempstead Union Free School District TAN 1% 6/26/15	16,300,000		16,352,460
Hilton Central School District BAN 1% 6/24/15	12,000,000		12,038,457
Honeoye Falls Lima Central School District BAN 1% 6/17/15	7,710,404		7,734,776
Islip Union Free School District:
BAN:
0.5% 3/6/15	12,100,000		12,104,172
1% 3/6/15	4,000,000		4,002,850
TAN 1% 6/26/15	15,500,000		15,551,161
JPMorgan Chase Bonds Series Putters 4410, 0.07%, tender 4/23/15 (Liquidity Facility JPMorgan Chase Bank) (c)(g)(h)	54,790,000		54,790,000
Kings Park Central School District TAN 1% 6/26/15	15,500,000		15,553,606
Lancaster Central School District BAN 1% 6/18/15	10,300,000		10,332,784
Lindenhurst Unified Free School District TAN 1% 6/19/15	17,200,000		17,257,328
Other Municipal Debt - continued
	Principal Amount		Value
New York - continued
Liverpool Central School District Gen. Oblig. BAN Series 2014 A, 0.5% 7/8/15	$ 8,600,000		$ 8,612,917
Longwood Central School District:
BAN Series 2014 B, 1% 6/19/15	19,940,000		20,003,930
TAN 1% 6/26/15	26,700,000		26,789,060
Manhasset Union Free School District TAN 1% 6/19/15	9,000,000		9,029,898
Middle Country Century School District TAN 1% 6/26/15	33,200,000		33,314,713
Middletown City School District BAN Series 2014, 1% 7/9/15	42,270,000		42,425,224
Mount Sinai Union Free School District TAN Series 2014, 1% 6/25/15	6,800,000		6,820,837
Nassau Health Care Corp. Rev. Bonds Series 2009 C2, 0.07%, tender 4/7/15, LOC Wells Fargo Bank NA (c)	5,455,000		5,455,000
New York City Gen. Oblig. Bonds:
Series 2004 HA, 5% 3/1/15	2,040,000		2,047,582
Series 2008 G, 5% 8/1/15	700,000		716,658
Series 2009 H1, 5% 3/1/15	4,975,000		4,993,838
Series 2010 E, 5% 8/1/15	1,000,000		1,024,107
Series 2010 F, 5% 8/1/15	2,800,000		2,867,136
Series 2010 H2, 5% 6/1/15	6,110,000		6,207,776
Series 2011 A, 5% 8/1/15	3,000,000		3,072,219
Series 2011 I1, 5% 8/1/15	9,210,000		9,431,809
Series 2012 l, 5% 8/1/15	1,970,000		2,017,169
Series 2013 B, 5% 8/1/15	4,000,000		4,096,439
Series 2013 E, 5% 8/1/15	1,000,000		1,024,299
Series 2014 B, 5% 8/1/15	500,000		511,980
Series 2014 F, 5% 8/1/15	2,500,000		2,560,316
Series B, 5% 8/1/15	6,600,000		6,759,024
New York City Transitional Fin. Auth. Bldg. Aid Rev. Bonds Series 2012 1A, 5% 7/15/15	1,215,000		1,241,675
New York City Transitional Fin. Auth. Rev. Bonds:
Series 2003 A1, 5% 11/1/15	1,855,000		1,921,063
Series 2007 C1, 5% 11/1/15 (Escrowed to Maturity)	3,165,000		3,279,001
Series 2011 E, 5% 11/1/15	1,500,000		1,553,953
Series 2012 E, 4% 2/1/15	2,300,000		2,300,000
Series 2013 A1:
4% 8/1/15	1,000,000		1,019,298
5% 8/1/15	915,000		936,959
Series 2013 C:
5% 11/1/15	1,330,000		1,377,920
5% 11/1/15 (Escrowed to Maturity)	3,530,000		3,657,186
Series 2013 E, 5% 11/1/15	400,000		414,174
Series 2013, 2% 5/1/15	8,500,000		8,539,453
Other Municipal Debt - continued
	Principal Amount		Value
New York - continued
New York City Trust For Cultural Bonds Series 2014 B2, 0.03%, tender 6/5/15 (c)	$ 12,100,000		$ 12,100,000
New York City Trust For Cultural Rev. Bonds Series 2014 B1, 0.03%, tender 8/28/15 (c)	14,200,000		14,200,000
New York Dorm. Auth. Personal Income Tax Rev. Bonds:
Series 2008 A, 5% 3/15/15	2,000,000		2,011,373
Series 2009 D, 5% 6/15/15	2,000,000		2,035,881
Series 2011 A, 5% 3/15/15	10,000,000		10,057,080
Series 2011 C, 4% 3/15/15	1,100,000		1,105,013
Series 2011 E, 5% 8/15/15	450,000		461,460
Series 2012 B, 5% 3/15/15	6,000,000		6,033,567
Series 2014 C, 2% 6/15/15	8,000,000		8,054,791
Series 2014 E:
3% 2/15/16	20,445,000		21,041,587
5% 2/15/15	7,250,000		7,263,303
5% 2/15/15	6,100,000		6,111,305
New York Dorm. Auth. Revs.:
Series 1998, 0.08% 4/2/15, CP	17,300,000		17,300,000
0.09% 3/4/15, CP	5,000,000		5,000,000
New York Dorm. Auth. Sales Tax Rev. Bonds Series 2013 A, 2% 3/15/15	16,215,000		16,251,011
New York Envir. Facilities Corp. Clean Wtr. & Drinking Wtr. Bonds:
(New York City Muni. Wtr. Fin. Auth. Projs.):
Series 2002 K, 5.5% 6/15/15	1,675,000		1,708,048
Series 2007 B, 5% 6/15/15	4,000,000		4,071,349
Series 2011 B, 5% 6/15/15	2,195,000		2,234,468
Series 2012 A, 4% 6/15/15	2,180,000		2,211,116
Series 2012 D, 3% 6/15/15	2,500,000		2,526,963
Series 2010 C, 5% 6/15/15	1,675,000		1,704,990
New York Local Govt. Assistance Corp. Bonds:
Series 2010 A, 5% 4/1/15	3,435,000		3,461,911
Series 2010 B, 5% 4/1/15	5,280,000		5,321,914
New York Metropolitan Trans. Auth. Rev.:
Series 2A:
0.09% 4/9/15, LOC TD Banknorth, NA, CP	12,100,000		12,100,000
0.1% 2/12/15, LOC TD Banknorth, NA, CP	28,650,000		28,650,000
Series 2B, 0.08% 2/11/15, LOC Barclays Bank PLC, CP	53,600,000		53,600,000
Series 2D:
0.07% 3/10/15, LOC Citibank NA, CP	54,100,000		54,100,000
Other Municipal Debt - continued
	Principal Amount		Value
New York - continued
New York Metropolitan Trans. Auth. Rev.: - continued
Series 2D: - continued
0.09% 2/6/15, LOC Citibank NA, CP	$ 53,700,000		$ 53,700,000
New York Pwr. Auth.:
Series 1:
0.06% 5/1/15, CP	15,900,000		15,900,000
0.09% 5/19/15, CP	36,800,000		36,800,000
0.09% 9/8/15, CP	45,750,000		45,750,000
Series 2:
0.03% 2/17/15, CP	6,325,000		6,325,000
0.04% 2/13/15, CP	4,720,000		4,720,000
0.04% 3/17/15, CP	19,760,000		19,760,000
0.07% 5/7/15, CP	24,965,000		24,965,000
New York Sales Tax Asset Receivables Corp. Bonds Series 2015 A, 5% 10/15/15	38,800,000		40,129,445
New York State Envir. Facilities Corp. Rev. Bonds:
(2010 Master Fing. Prog.) Series 2014, 1% 5/15/15	2,660,000		2,666,525
Series 2010 C, 5% 10/15/15	1,000,000		1,033,829
3% 2/15/15	995,000		996,080
3% 2/15/15 (Escrowed to Maturity)	5,000		5,005
New York State Gen. Oblig. Bonds:
Series 2005 A, 4% 3/15/15	6,900,000		6,931,003
Series 2009 A, 5% 2/15/15	500,000		500,906
Series 2009 C, 3% 2/1/15	3,075,000		3,075,000
Series 2011 A, 5% 2/15/15	2,000,000		2,003,715
Series 2013 C, 5% 4/15/15	14,650,000		14,793,433
5% 4/15/15	1,775,000		1,792,078
New York Thruway Auth. Personal Income Tax Rev. Bonds:
Series 2009 A, 5% 3/15/15	3,100,000		3,117,694
Series 2011 A, 5% 3/15/15	3,300,000		3,318,699
New York Thruway Auth. Second Gen. Hwy. & Bridge Trust Fund Bonds:
Series 2008 B, 5% 4/1/15	2,325,000		2,343,214
Series 2011 A1, 4% 4/1/15	3,110,000		3,129,683
New York Thruway Auth. Svc. Contract Rev. Bonds Series 2012 A, 4% 4/1/15	22,395,000		22,536,657
New York Urban Dev. Corp. Rev. Bonds:
Series 2007 B, 4% 3/15/15	1,250,000		1,255,566
Series 2011 A, 5% 3/15/15	2,090,000		2,101,965
Series 2013 E, 2% 3/15/15	18,860,000		18,900,704
Pittsford Central School District BAN 1.25% 2/12/16 (b)	17,400,000		17,585,832
Riverhead Central School District:
BAN Series 2014, 1.25% 9/18/15	2,140,000		2,153,118
Other Municipal Debt - continued
	Principal Amount		Value
New York - continued
Riverhead Central School District: - continued
TAN 1% 6/25/15	$ 17,200,000		$ 17,259,797
Rochester Gen. Oblig.:
BAN Series 2014, 1.25% 3/18/15	11,170,000		11,184,569
Bonds Series 2013 ll, 5% 2/1/15	3,275,000		3,275,000
Sag Hbr. Union Free School District TAN 1% 6/26/15	9,000,000		9,030,780
Scotia Glenville Central School District BAN Series 2014, 1% 6/26/15	8,380,000		8,407,564
South Huntington Union Free School District TAN 1.5% 6/26/15	12,900,000		12,968,661
Southampton Union Free School District TAN 1% 6/19/15	13,400,000		13,444,157
Syosset Central School District TAN 1% 6/25/15	18,100,000		18,162,933
Three Village Central School District:
BAN 1.25% 8/28/15	6,900,000		6,943,174
TAN 0.75% 6/25/15	22,400,000		22,455,617
Tobacco Settlement Fing. Corp. Bonds Series 2011:
5% 6/1/15	3,135,000		3,185,108
5% 6/1/15	8,080,000		8,209,003
Victor Central School District BAN 1.25% 9/25/15	18,300,000		18,425,068
West Babylon Union Free School District TAN 1.25% 6/26/15	15,900,000		15,968,908
West Seneca BAN Series 2014, 1% 7/30/15	10,490,000		10,533,882
Westhampton Beach Union Free School District TAN 1% 6/25/15	9,500,000		9,532,557
			1,514,664,945
New York And New Jersey - 3.9%
Port Auth. of New York & New Jersey:
Bonds:
185th Series, 3% 9/1/15 (f)	8,825,000		8,970,548
Series 169, 5% 10/15/15 (f)	5,600,000		5,791,571
Series 177, 4% 7/15/15 (f)	7,355,000		7,482,579
Series A:
0.07% 6/3/15, CP (f)	12,785,000		12,785,000
0.07% 6/11/15, CP (f)	14,600,000		14,600,000
0.09% 2/3/15, CP (f)	7,600,000		7,600,000
0.09% 2/19/15, CP (f)	13,560,000		13,560,000
0.09% 3/2/15, CP (f)	12,875,000		12,875,000
0.09% 3/11/15, CP (f)	13,305,000		13,305,000
0.09% 3/11/15, CP (f)	1,495,000		1,495,000
0.09% 3/19/15, CP (f)	15,900,000		15,900,000
0.09% 4/1/15, CP (f)	10,400,000		10,400,000
Other Municipal Debt - continued
	Principal Amount		Value
New York And New Jersey - continued
Port Auth. of New York & New Jersey: - continued
Series A: - continued
0.09% 4/9/15, CP (f)	$ 13,800,000		$ 13,800,000
0.1% 5/5/15, CP (f)	16,955,000		16,955,000
Series B:
0.08% 3/25/15, CP	12,200,000		12,200,000
0.08% 6/10/15, CP	5,300,000		5,300,000
0.09% 2/12/15, CP	14,475,000		14,475,000
0.09% 3/3/15, CP	9,000,000		9,000,000
0.09% 3/12/15, CP	5,417,500		5,417,500
0.09% 6/3/15, CP	12,100,000		12,100,000
			214,012,198
Virginia - 0.1%
Halifax County Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. & Pwr. Co. Proj.) Series 1992, 0.45% tender 2/17/15, CP mode (f)	3,600,000		3,600,000
Prince William County Indl. Dev. Auth. Poll. Cont. Rev. Bonds (Virginia Elec. & Pwr. Co. Proj.) Series 1986, 0.4% tender 2/17/15, CP mode	900,000		900,000
			4,500,000
West Virginia - 0.0%
Grant County Cmnty. Solid Waste Disp. Rev. Bonds (Virginia Elec. & Pwr. Co. Proj.) Series 1996, 0.32% tender 3/3/15, CP mode (f)	1,900,000		1,900,000
TOTAL OTHER MUNICIPAL DEBT (Cost $1,764,477,143)		1,764,477,143
Investment Company - 0.2%
	Shares
Fidelity Municipal Cash Central Fund, 0.02% (d)(e) (Cost $10,500,000)	10,500,000		10,500,000
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $5,536,872,147)			5,536,872,147
NET OTHER ASSETS (LIABILITIES) - (0.2)%			(11,121,821)
NET ASSETS - 100%		$ 5,525,750,326

Security Type Abbreviations
BAN	-	BOND ANTICIPATION NOTE
CP	-	COMMERCIAL PAPER
TAN	-	TAX ANTICIPATION NOTE
VRDN	-	VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)

Legend

(a) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $7,150,000 or 0.1% of net assets.

(b) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(d) Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Municipal Cash Central Fund.

(e) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(f) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

(g) Provides evidence of ownership in one or more underlying municipal bonds.

(h) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $62,690,000 or 1.1% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Cost
JPMorgan Chase Bonds Series Putters 4410, 0.07%, tender 4/23/15 (Liquidity Facility JPMorgan Chase Bank)	10/31/13	$ 54,790,000
Port Auth. of New York & New Jersey Series 1991 2, 0.1% 3/2/15, VRDN	12/3/03	$ 6,400,000
Port Auth. of New York & New Jersey Series 1997 1, 0.07% 3/2/15, VRDN	6/4/14	$ 500,000
Port Auth. of New York & New Jersey Series 1997 2, 0.07% 3/2/15, VRDN	7/8/13	$ 1,000,000

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Municipal Cash Central Fund	$ 38,021

Other Information

The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets.

All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements

Statement of Assets and Liabilities

	January 31, 2015

Assets
Investment in securities, at value - See accompanying schedule: Unaffiliated issuers (cost $5,526,372,147)	$ 5,526,372,147
Fidelity Central Funds (cost $10,500,000)	10,500,000
Total Investments (cost $5,536,872,147)		$ 5,536,872,147
Cash		2,115,514
Receivable for investments sold		2,447,526
Receivable for fund shares sold		56,538,518
Interest receivable		7,931,316
Distributions receivable from Fidelity Central Funds		211
Prepaid expenses		10,317
Receivable from investment adviser for expense reductions		26,349
Other receivables		7,369
Total assets		5,605,949,267

Liabilities
Payable for investments purchased Regular delivery	$ 3,584,859
Delayed delivery	17,585,832
Payable for fund shares redeemed	57,594,584
Distributions payable	2,641
Accrued management fee	183,079
Other affiliated payables	1,202,236
Other payables and accrued expenses	45,710
Total liabilities		80,198,941

Net Assets		$ 5,525,750,326
Net Assets consist of:
Paid in capital		$ 5,525,699,108
Distributions in excess of net investment income		(393)
Accumulated undistributed net realized gain (loss) on investments		51,611
Net Assets, for 5,521,302,355 shares outstanding		$ 5,525,750,326
Net Asset Value, offering price and redemption price per share ($5,525,750,326 ÷ 5,521,302,355 shares)		$ 1.00

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Operations

	Year ended January 31, 2015

Investment Income
Interest		$ 4,766,595
Income from Fidelity Central Funds		38,021
Total income		4,804,616

Expenses
Management fee	$ 19,989,661
Transfer agent fees	6,644,863
Accounting fees and expenses	470,625
Custodian fees and expenses	70,556
Independent trustees' compensation	24,162
Registration fees	52,924
Audit	41,795
Legal	26,736
Miscellaneous	59,434
Total expenses before reductions	27,380,756
Expense reductions	(23,093,344)	4,287,412
Net investment income (loss)		517,204
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers		231,630
Net increase in net assets resulting from operations		$ 748,834

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements - continued

Statement of Changes in Net Assets

	Year ended January 31, 2015	Year ended January 31, 2014
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 517,204	$ 586,145
Net realized gain (loss)	231,630	384,045
Net increase in net assets resulting from operations	748,834	970,190
Distributions to shareholders from net investment income	(552,756)	(549,273)
Share transactions at net asset value of $1.00 per share Proceeds from sales of shares	13,659,292,288	14,507,266,831
Reinvestment of distributions	527,270	528,505
Cost of shares redeemed	(13,782,563,584)	(14,408,481,725)
Net increase (decrease) in net assets and shares resulting from share transactions	(122,744,026)	99,313,611
Total increase (decrease) in net assets	(122,547,948)	99,734,528

Net Assets
Beginning of period	5,648,298,274	5,548,563,746
End of period (including distributions in excess of net investment income of $393 and undistributed net investment income of $0, respectively)	$ 5,525,750,326	$ 5,648,298,274

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights

Years ended January 31,	2015	2014	2013	2012	2011
Selected Per-Share Data
Net asset value, beginning of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Income from Investment Operations
Net investment income (loss) ^D	-	-	-	-	-
Net realized and unrealized gain (loss) ^D	-	-	-	-	-
Total from investment operations ^D	-	-	-	-	-
Distributions from net investment income ^D	-	-	-	-	-
Distributions from net realized gain	-	-	- ^D	-	- ^D
Total distributions ^D	-	-	-	-	-
Net asset value, end of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Total Return^A	.01%	.01%	.01%	.01%	.01%
Ratios to Average Net Assets^{B, C}
Expenses before reductions	.49%	.50%	.50%	.50%	.50%
Expenses net of fee waivers, if any	.08%	.12%	.20%	.21%	.32%
Expenses net of all reductions	.08%	.12%	.20%	.21%	.32%
Net investment income (loss)	.01%	.01%	.01%	.01%	.01%
Supplemental Data
Net assets, end of period (000 omitted)	$ 5,525,750	$ 5,648,298	$ 5,548,564	$ 5,146,244	$ 4,821,855

^A Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^B Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^C Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed or waived or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements, waivers or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement and waivers but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^D Amount represents less than $.001 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Financial Statements

For the period ended January 31, 2015

1. Organization.

Fidelity New York Municipal Money Market Fund (the Fund) is a fund of Fidelity New York Municipal Trust II (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. The Fund may be affected by economic and political developments in the state of New York.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

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3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Security Valuation. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

As permitted by compliance with certain conditions under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity. Securities held by a money market fund are generally high quality and liquid; however, they are reflected as Level 2 because the inputs used to determine fair value are not quoted prices in an active market.

Investment Transactions and Income. The net asset value per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions, including the Fund's investment activity in the Fidelity Central Funds, are accounted for as of trade date. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

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Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Dividends are declared and recorded daily and paid monthly from net investment income. Distributions from realized gains, if any, are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. In addition, the Fund claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to deferred trustees compensation.

The Funds purchase municipal securities whose interest, in the opinion of the issuer, is free from federal income tax. There is no assurance that the IRS will agree with this opinion. In the event the IRS determines that the issuer does not comply with relevant tax requirements, interest payments from a security could become federally taxable, possibly retroactively to the date the security was issued.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

Gross unrealized appreciation	$ -
Gross unrealized depreciation	-
Net unrealized appreciation (depreciation) on securities	$ -

Tax Cost	$ 5,536,872,147

The tax-based components of distributable earnings as of period end were as follows:

Undistributed tax-exempt income	$ 221
Undistributed long-term capital gain	$ 51,611

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3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The tax character of distributions paid was as follows:

	January 31, 2015	January 31, 2014
Tax-exempt Income	$ 552,756	$ 549,273

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in the Fund's Schedule of Investments. The Fund may receive compensation for interest forgone in the purchase of a delayed delivery or when-issued security. With respect to purchase commitments, the Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

New Accounting Pronouncement. In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Annual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

New Rule Issuance - continued

need to make. Management is currently evaluating the implication of these amendments and their impact of the Final Rule to the Fund's financial statements and related disclosures.

4. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .25% of the Fund's average net assets and an annualized group fee rate that averaged .11% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. For the reporting period, the total annual management fee rate was .36% of the Fund's average net assets.

Transfer Agent and Accounting Fees. Citibank, N.A. (Citibank) is the custodian, transfer agent and servicing agent for the Fund. Citibank has entered into a sub-arrangement with Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, under which FIIOC performs the activities associated with the Fund's transfer agency, dividend disbursing and shareholder servicing functions. The Fund pays Citibank account fees and asset-based fees that vary according to account size and type of account. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. For the period, transfer agent fees were equivalent to an annual rate of .12% of average net assets.

Citibank also has a sub-arrangement with Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, under which FSC maintains the Fund's accounting records. The fee is paid to Citibank and is based on the level of average net assets for each month.

5. Expense Reductions.

The investment adviser or its affiliates voluntarily agreed to waive certain fees in order to maintain a minimum annualized yield of .01%. Such arrangements may be discontinued by the investment adviser at any time. For the period, the amount of the waiver was $23,083,069.

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5. Expense Reductions - continued

In addition, through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $10,275.

6. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity New York Municipal Trust II and Shareholders of Fidelity New York Municipal Money Market Fund:

We have audited the accompanying statement of assets and liabilities of Fidelity New York Municipal Money Market Fund (the Fund), a fund of Fidelity New York Municipal Trust II, including the schedule of investments, as of January 31, 2015, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of January 31, 2015, by correspondence with the custodians and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Fidelity New York Municipal Money Market Fund as of January 31, 2015, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

March 17, 2015

Annual Report

Trustees and Officers

The Trustees, Member of the Advisory Board, and officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, oversee management of the risks associated with such activities and contractual arrangements, and review the fund's performance. Except for Elizabeth S. Acton, and John Engler, each of the Trustees oversees 235 funds. Ms. Acton and Mr. Engler each oversees 217 funds.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the fund (Independent Trustee), shall retire not later than the last day of the month in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. The officers and Advisory Board Member hold office without limit in time, except that any officer and Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

Experience, Skills, Attributes, and Qualifications of the Fund's Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing the fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the fund, is provided below.

Annual Report

Board Structure and Oversight Function. Abigail P. Johnson is an interested person (as defined in the 1940 Act) and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the fund. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Albert R. Gamper, Jr. serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity funds are overseen by different Boards of Trustees. The fund's Board oversees Fidelity's investment-grade bond, money market, and asset allocation funds and another Board oversees Fidelity's equity and high income funds. The asset allocation funds may invest in Fidelity funds that are overseen by such other Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, the fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the fund's activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the fund's business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the fund are carried out by or through FMR, its affiliates, and other service providers, the fund's exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the fund's activities, oversight is exercised primarily through the Operations and Audit Committees. In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board. The Operations Committee also worked and continues to work with FMR to enhance the stress tests required under SEC regulations for money market funds. Appropriate personnel, including but not limited to the fund's Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the fund's Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of FMR's risk management program for the Fidelity funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Fund's Trustees."

Annual Report

Trustees and Officers - continued

The fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544.

Interested Trustee*:

Correspondence intended for the Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009 Trustee Chairman of the Board of Trustees
	Ms. Johnson also serves as Trustee of other Fidelity funds. Ms. Johnson serves as President (2013-present) and Chief Executive Officer (2014-present) of FMR LLC, President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of FMR Co., Inc. (2011-present), Chairman and Director of FMR (2011-present), and the Vice Chairman and Director (2007-present) of FMR LLC. Previously, Ms. Johnson served as President and a Director of FMR (2001-2005), a Trustee of other investment companies advised by FMR, Fidelity Investments Money Management, Inc., and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity funds (2001-2005), and managed a number of Fidelity funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.

Annual Report

* Trustee has been determined to be an "Interested Trustee" by virtue of, among other things, her affiliation with the trust or various entities under common control with FMR.

⁺ The information above includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for the fund.

Independent Trustees:

Correspondence intended for each Independent Trustee (that is, the Trustees other than the Interested Trustee) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013 Trustee
	Ms. Acton also serves as Trustee or Member of the Advisory Board of other Fidelity funds. Prior to her retirement in April 2012, Ms. Acton was Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011), and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board of Directors and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present).
John Engler (1948)
Year of Election or Appointment: 2014 Trustee
	Mr. Engler also serves as Trustee or Member of the Advisory Board of other Fidelity funds. He serves as president of the Business Roundtable (2011-present), and on the board of directors/trustees for Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-present), K12 Inc. (technology-based education company, 2012-present), and the Annie E. Casey Foundation (2004-present). Previously, Mr. Engler served as a trustee of The Munder Funds (2003-2014), president and CEO of the National Association of Manufacturers (2004-2011) and as governor of Michigan (1991-2003). He is a past chairman of the National Governors Association.
Albert R. Gamper, Jr. (1942)
Year of Election or Appointment: 2006 Trustee Chairman of the Independent Trustees
	Mr. Gamper also serves as Trustee of other Fidelity funds. Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (2002-2003). Mr. Gamper currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2000-present), and Member of the Board of Trustees of Barnabas Health Care System (1997-present). Previously, Mr. Gamper served as Vice Chairman of the Independent Trustees of certain Fidelity funds (2011-2012) and as Chairman of the Board of Governors, Rutgers University (2004-2007).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010 Trustee
	Mr. Gartland also serves as Trustee of other Fidelity funds. Mr. Gartland is Chairman and an investor in Gartland and Mellina Group Corp. (consulting, 2009-present). Previously, Mr. Gartland served as a partner and investor of Vietnam Partners LLC (investments and consulting, 2008-2011). Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007) including Managing Director (1987-2007).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008 Trustee
	Mr. Johnson also serves as Trustee of other Fidelity funds. Mr. Johnson serves as a member of the Board of Directors of Eaton Corporation plc (diversified power management, 2009-present), AGL Resources, Inc. (holding company, 2002-present) and Booz Allen Hamilton (management consulting, 2011-present). Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). He previously served on the Board of Directors of IKON Office Solutions, Inc. (1999-2008) and Delta Airlines (2005-2007). Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009 Trustee
	Mr. Kenneally also serves as Trustee of other Fidelity funds. Mr. Kenneally served as a Member of the Advisory Board for certain Fidelity funds before joining the Board of Trustees (2008-2009). Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management. Before joining Credit Suisse, he was an Executive Vice President and Chief Investment Officer for Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager and Research Analyst, and Mr. Kenneally was awarded the Chartered Financial Analyst (CFA) designation in 1991.
James H. Keyes (1940)
Year of Election or Appointment: 2007 Trustee
	Mr. Keyes also serves as Trustee of other Fidelity funds. Mr. Keyes serves as a member of the Board and Non-Executive Chairman of Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, since 2002). Previously, Mr. Keyes served as a member of the Board of Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions, 1998-2013). Prior to his retirement, Mr. Keyes served as Chairman (1993-2002) and Chief Executive Officer (1988-2002) of Johnson Controls (automotive, building, and energy) and as a member of the Board of LSI Logic Corporation (semiconductor technologies, 1984-2008).
Marie L. Knowles (1946)
Year of Election or Appointment: 2001 Trustee Vice Chairman of the Independent Trustees
	Ms. Knowles also serves as Trustee of other Fidelity funds. Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. Ms. Knowles currently serves as a Director and Chairman of the Audit Committee of McKesson Corporation (healthcare service, since 2002). Ms. Knowles is a member of the Board of the Catalina Island Conservancy and of the Santa Catalina Island Company (2009-present). She also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Previously, Ms. Knowles served as a Director of Phelps Dodge Corporation (copper mining and manufacturing, 1994-2007), URS Corporation (engineering and construction, 2000-2003) and America West (airline, 1999-2002).

⁺ The information above includes each Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to each Trustee's qualifications to serve as a Trustee, which led to the conclusion that each Trustee should serve as a Trustee for the fund.

Annual Report

Advisory Board Member and Officers:

Correspondence intended for each officer and Geoffrey A. von Kuhn may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.

Name, Year of Birth; Principal Occupation
Geoffrey A. von Kuhn (1951)
Year of Election or Appointment: 2015 Member of the Advisory Board
	Mr. von Kuhn also serves as a Trustee or Member of the Advisory Board of other Fidelity funds. Mr. von Kuhn is Chief Administrative Officer for FMR LLC (diversified financial services company, 2013-present), a Director of Pembroke Real Estate, Inc. (2009-present), and a Director of Discovery Natural Resources LLC (2012-present). Previously, Mr. von Kuhn was a managing director of Crosby Group (private wealth management company, 2007-2013), a member of the management committee and senior executive in the Wealth Management Group of AmSouth Bank (2001-2006), and head of the U.S. private bank at Citigroup (2000-2001).
Elizabeth Paige Baumann (1968)
Year of Election or Appointment: 2012 Anti-Money Laundering (AML) Officer
	Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer of FMR LLC (2012-present) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as Vice President and Deputy Anti-Money Laundering Officer (2007-2012).
Marc Bryant (1966)
Year of Election or Appointment: 2013 Assistant Secretary
	Mr. Bryant also serves as an officer of other funds. He is Senior Vice President and Deputy General Counsel of FMR LLC. Previously, Mr. Bryant served as Secretary and Chief Legal Officer of Fidelity Rutland Square Trust II (2010-2014). Prior to joining Fidelity Investments, Mr. Bryant served as a Senior Vice President and the Head of Global Retail Legal for AllianceBernstein L.P. (2006-2010), and as the General Counsel for ProFund Advisors LLC (2001-2006).
Jonathan Davis (1968)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (2003-2010).
Adrien E. Deberghes (1967)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Deberghes also serves as an officer of other funds. He is an employee of Fidelity Investments (2008-present). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005).
Stephanie J. Dorsey (1969)
Year of Election or Appointment: 2013 President and Treasurer
	Ms. Dorsey also serves as an officer of other funds. She is an employee of Fidelity Investments (2008-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Dorsey served as Treasurer (2004-2008) of the JPMorgan Mutual Funds and Vice President (2004-2008) of JPMorgan Chase Bank.
Howard J. Galligan III (1966)
Year of Election or Appointment: 2014 Chief Financial Officer
	Mr. Galligan also serves as Chief Financial Officer of other funds. Mr. Galligan serves as President of Fidelity Pricing and Cash Management Services (FPCMS) (2014-present) and as a Director of Strategic Advisers, Inc. (2008-present). Previously, Mr. Galligan served as Chief Administrative Officer of Asset Management (2011-2014) and Chief Operating Officer and Senior Vice President of Investment Support for Strategic Advisers, Inc. (2003-2011).
Scott C. Goebel (1968)
Year of Election or Appointment: 2008 Secretary and Chief Legal Officer (CLO)
	Mr. Goebel serves as Secretary and CLO of other funds. Mr. Goebel also serves as Secretary of Fidelity SelectCo, LLC (2013-present), Fidelity Investments Money Management, Inc. (FIMM) (2010-present) and Fidelity Research and Analysis Company (FRAC) (2010-present); General Counsel, Secretary, and Senior Vice President of FMR (2008-present) and FMR Co., Inc. (2008-present); Chief Legal Officer of Fidelity Management & Research (Hong Kong) Limited (2008-present); and Assistant Secretary of Fidelity Management & Research (Japan) Limited (2008-present) and Fidelity Management & Research (U.K.) Inc. (2008-present). Previously, Mr. Goebel served as Secretary and CLO of other Fidelity funds (2008-2013), Assistant Secretary of FIMM (2008-2010), FRAC (2008-2010), and certain funds (2007-2008); and as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (2005-2007). Mr. Goebel has been employed by FMR LLC or an affiliate since 2001.
Chris Maher (1972)
Year of Election or Appointment: 2013 Assistant Treasurer
	Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of FMR's Program Management Group (2010-2013), and Vice President of Valuation Oversight (2008-2010).
Nancy D. Prior (1967)
Year of Election or Appointment: 2014 Vice President
	Ms. Prior also serves as Vice President of other funds. Ms. Prior serves as a Director of Fidelity Investments Money Management, Inc. (FIMM) (2014-present), President, Fixed Income (2014-present), Vice Chairman of Pyramis Global Advisors, LLC (2014-present), and is an employee of Fidelity Investments (2002-present). Previously, Ms. Prior served as Vice President of Fidelity's Money Market Funds (2012-2014), President, Money Market and Short Duration Bond of FMR (2013-2014), President, Money Market Group of FMR (2011-2014), Managing Director of Research (2009-2011), Senior Vice President and Deputy General Counsel (2007-2009), and Assistant Secretary of other Fidelity funds (2008-2009).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2009 Assistant Treasurer
	Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (2013-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served in other fund officer roles.
Stephen Sadoski (1971)
Year of Election or Appointment: 2013 Deputy Treasurer
	Mr. Sadoski also serves as Deputy Treasurer of other funds. He is an employee of Fidelity Investments (2012-present) and has served in another fund officer role. Prior to joining Fidelity Investments, Mr. Sadoski served as an assistant chief accountant in the Division of Investment Management of the Securities and Exchange Commission (SEC) (2009-2012) and as a senior manager at Deloitte & Touche LLP (1997-2009).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013 Assistant Treasurer
	Ms. Smith also serves as an officer of other funds. She is an employee of Fidelity Investments (2009-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (1996-2009).
Renee Stagnone (1975)
Year of Election or Appointment: 2013 Deputy Treasurer
	Ms. Stagnone also serves as Deputy Treasurer of other funds. Ms. Stagnone is an employee of Fidelity Investments.
Michael H. Whitaker (1967)
Year of Election or Appointment: 2008 Chief Compliance Officer
	Mr. Whitaker also serves as Chief Compliance Officer of other funds. Mr. Whitaker also serves as Compliance Officer of FMR Co., Inc. (2014-present), FMR (2014-present), Fidelity Investments Money Management, Inc. (2014-present), and is an employee of Fidelity Investments (2007-present). Prior to joining Fidelity Investments, Mr. Whitaker worked at MFS Investment Management where he served as Senior Vice President and Chief Compliance Officer (2004-2006), and Assistant General Counsel.
Joseph F. Zambello (1957)
Year of Election or Appointment: 2011 Deputy Treasurer
	Mr. Zambello also serves as Deputy Treasurer of other funds. Mr. Zambello is an employee of Fidelity Investments. Previously, Mr. Zambello served as Vice President of FMR's Program Management Group (2009-2011) and Vice President of the Transfer Agent Oversight Group (2005-2009).

Annual Report

Distributions (Unaudited)

During fiscal year ended 2015, 100% of the fund's income dividends was free from federal income tax, and 20.68% of the fund's income dividends was subject to the federal alternative minimum tax.

The fund hereby designates as a capital gain dividend with respect to the taxable year ended January 31, 2015, $201,538, or, if subsequently determined to be different, the net capital gain of such year.

The fund will notify shareholders in January 2016 of amounts for use in preparing 2015 income tax returns.

Annual Report

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity New York Municipal Money Market Fund

Each year, the Board of Trustees, including the Independent Trustees (together, the Board), votes on the renewal of the management contract with Fidelity Management & Research Company (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for the fund. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, requests and considers a broad range of information relevant to the renewal of the Advisory Contracts throughout the year.

The Board meets regularly and, at each of its meetings, covers an extensive agenda of topics and materials and considers factors that are relevant to its annual consideration of the renewal of the fund's Advisory Contracts, including the services and support provided to the fund and its shareholders. The Board has established four standing committees (Committees) - Operations, Audit, Fair Valuation, and Governance and Nominating - each composed of and chaired by Independent Trustees with varying backgrounds, to which the Board has assigned specific subject matter responsibilities in order to enhance effective decision-making by the Board. The Operations Committee, of which all of the Independent Trustees are members, meets regularly throughout the year and considers, among other matters, information specifically related to the annual consideration of the renewal of the fund's Advisory Contracts. The Board, acting directly and through its Committees, requests and receives information concerning the annual consideration of the renewal of the fund's Advisory Contracts. The Board also meets as needed to consider matters specifically related to the Board's annual consideration of the renewal of the Advisory Contracts. Members of the Board may also meet with trustees of other Fidelity funds through ad hoc joint committees to discuss certain matters relevant to the Fidelity funds.

At its September 2014 meeting, the Board, including the Independent Trustees, unanimously determined to renew the fund's Advisory Contracts. In reaching its determination, the Board considered all factors it believed relevant, including (i) the nature, extent, and quality of the services to be provided to the fund and its shareholders (including the investment performance of the fund); (ii) the competitiveness of the fund's management fee and total expense ratio relative to peer funds; (iii) the total costs of the services to be provided by and the profits to be realized by Fidelity from its relationship with the fund; (iv) the extent to which economies of scale exist and would be realized as the fund grows; and (v) whether fee levels reflect these economies of scale, if any, for the benefit of fund shareholders. In connection with separate internal corporate reorganizations involving Fidelity Management & Research (U.K.) Inc. (FMR U.K.) and Fidelity Management & Research (Japan) Inc. (FMR Japan), the Board approved certain non-material amendments to the fund's sub-advisory agreements with FMR U.K. and FMR Japan to reflect that, after these reorganizations, FMR Investment Management (UK) Limited and Fidelity Management & Research (Japan) Limited will carry on the business of FMR U.K. and FMR Japan, respectively. The Board noted that no changes to the portfolio managers or to the foreign research or investment advisory services provided to the fund were expected in connection with either reorganization and that the same personnel and resources would continue to be available to the fund at the new entities.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

In considering whether to renew the Advisory Contracts for the fund, the Board reached a determination, with the assistance of fund counsel and Independent Trustees' counsel and through the exercise of its business judgment, that the renewal of the Advisory Contracts was in the best interests of the fund and its shareholders and that the compensation payable under the Advisory Contracts was fair and reasonable. The Board's decision to renew the Advisory Contracts was not based on any single factor, but rather was based on a comprehensive consideration of all the information provided to the Board at its meetings throughout the year. The Board, in reaching its determination to renew the Advisory Contracts, was aware that shareholders of the fund have a broad range of investment choices available to them, including a wide choice among funds offered by Fidelity's competitors, and that the fund's shareholders, who have the opportunity to review and weigh the disclosure provided by the fund in its prospectus and other public disclosures, have chosen to invest in this fund, which is part of the Fidelity family of funds.

Nature, Extent, and Quality of Services Provided. The Board considered Fidelity's staffing as it relates to the fund, including the backgrounds of investment personnel of Fidelity, and also considered the fund's investment objective, strategies, and related investment philosophy. The Independent Trustees also had discussions with senior management of Fidelity's investment operations and investment groups. The Board considered the structure of the portfolio manager compensation program and whether this structure provides appropriate incentives to act in the best interests of the fund. Additionally, the Board considered the portfolio managers' investments, if any, in the funds that they manage.

Resources Dedicated to Investment Management and Support Services. The Board reviewed the general qualifications and capabilities of Fidelity's investment staff, including its size, education, experience, and resources, as well as Fidelity's approach to recruiting, training, managing, and compensating investment personnel. The Board noted that Fidelity has continued to increase the resources devoted to non-U.S. offices, including expansion of Fidelity's global investment organization. The Board also noted that Fidelity's analysts have extensive resources, tools and capabilities that allow them to conduct sophisticated quantitative and fundamental analysis, as well as credit analysis of issuers, counterparties and guarantors. Further, the Board believes that Fidelity's investment professionals have sufficient access to global information and data so as to provide competitive investment results over time, and that those professionals also have access to sophisticated tools that permit them to assess portfolio construction and risk and performance attribution characteristics continuously, as well as to transmit new information and research conclusions rapidly around the world. Additionally, in its deliberations, the Board considered Fidelity's trading, risk management, and compliance capabilities and resources, which are integral parts of the investment management process.

Annual Report

Shareholder and Administrative Services. The Board considered (i) the nature, extent, quality, and cost of advisory, administrative, and shareholder services performed by FMR, the sub-advisers (together with FMR, the Investment Advisers), and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency and pricing and bookkeeping services for the fund; (ii) the nature and extent of the supervision of third party service providers, principally custodians and subcustodians; and (iii) the resources devoted to, and the record of compliance with, the fund's compliance policies and procedures.

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value or convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account information and market information through telephone representatives and over the Internet, investor education materials and asset allocation tools, and the expanded availability of Fidelity Investor Centers.

Investment in a Large Fund Family. The Board considered the benefits to shareholders of investing in a Fidelity fund, including the benefits of investing in a fund that is part of a large family of funds offering a variety of investment disciplines and providing a large variety of mutual fund investor services. The Board noted that Fidelity had taken, or had made recommendations that resulted in the Fidelity funds taking, a number of actions over the previous year that benefited particular funds, including (i) continuing to dedicate additional resources to investment research and to the support of the senior management team that oversees asset management; (ii) persisting in efforts to enhance Fidelity's global research capabilities; (iii) launching new funds and making other enhancements to meet client needs for income-oriented solutions; (iv) reducing fund expenses for certain index funds; (v) continuing to launch dedicated lower cost underlying funds to meet portfolio construction needs related to expanding underlying fund options for Fidelity funds of funds, specifically for the Freedom Fund product lines; (vi) rationalizing product lines and gaining increased efficiencies through fund mergers; (vii) launching sector-based exchange-traded funds and establishing a new Fidelity adviser, Fidelity SelectCo, LLC, to manage sector-based funds and products; (viii) continuing to develop, acquire, and implement systems and technology to improve security and services to the funds and to increase efficiency; (ix) modifying the eligibility criteria for certain share classes to increase their marketability to a portion of the defined contribution plan market; (x) waiving redemption fees for certain qualified fund-of-fund and wrap programs and certain retirement plan transactions; and (xi) launching new Institutional Class shares of certain money market funds to attract and retain assets and to fill a gap in money market fund offerings.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Investment Performance. The Board considered whether the fund has operated in accordance with its investment objective, as well as its record of compliance with its investment restrictions and its performance history.

The Board took into account discussions with the Investment Advisers about fund investment performance that occur at Board meetings throughout the year. In this regard the Board noted that as part of regularly scheduled fund reviews and other reports to the Board on fund performance, the Board periodically considers annualized return information for the fund for different time periods, measured against a peer group of funds with similar objectives ("peer group"). In its evaluation of fund investment performance at meetings throughout the year, the Board gave particular attention to information indicating underperformance of certain Fidelity funds for specific time periods and the Investment Advisers' explanations for such underperformance.

In addition to reviewing absolute and relative fund performance, the Independent Trustees periodically consider the appropriateness of fund performance metrics in evaluating the results achieved. In general, the Independent Trustees believe that fund performance should be evaluated based on gross performance (before fees and expenses but after transaction costs) compared to appropriate peer groups, over appropriate time periods that may include full market cycles, taking into account relevant factors including the following: general market conditions; expectations for interest rate levels and credit conditions; issuer-specific information including credit quality; tactical opportunities for investment; the fund's market value NAV over time and its resilience under various stressed conditions; and fund cash flows and other factors.

The Board recognizes that in interest rate environments where many competitors waive fees to maintain a minimum yield, relative money market fund performance on a net basis (after fees and expenses) may not be particularly meaningful due to miniscule performance differences among competitor funds. Depending on the circumstances, the Independent Trustees may be satisfied with a fund's performance notwithstanding that it lags its peer group for certain periods.

The Independent Trustees recognize that shareholders evaluate performance on a net basis over their own holding periods, for which one-, three-, and five-year periods are often used as a proxy. For this reason, the performance information reviewed by the Board also included net cumulative calendar year total return information for the fund and an appropriate peer group for the most recent one-, three-, and five-year periods.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should benefit the fund's shareholders.

Annual Report

Competitiveness of Management Fee and Total Expense Ratio. The Board considered the fund's management fee and total expense ratio compared to "mapped groups" of competitive funds and classes. Fidelity creates "mapped groups" by combining similar Lipper investment objective categories that have comparable investment mandates. Combining Lipper investment objective categories aids the Board's management fee and total expense ratio comparisons by broadening the competitive group used for comparison and by reducing the number of universes to which various Fidelity funds are compared.

Management Fee. The Board considered two proprietary management fee comparisons for the 12-month periods shown in the chart below. The group of Lipper funds used by the Board for management fee comparisons is referred to below as the "Total Mapped Group" and, for the reasons explained above, is broader than the Lipper peer group used by the Board for performance comparisons. The Total Mapped Group comparison focuses on a fund's standing in terms of gross management fees before expense reimbursements or caps relative to the total universe of funds with comparable investment mandates, regardless of whether their management fee structures also are comparable. Funds with comparable investment mandates offer exposure to similar types of securities. Funds with comparable management fee structures have similar management fee contractual arrangements (e.g., flat rate charged for advisory services, all-inclusive fee rate, etc.). "TMG %" represents the percentage of funds in the Total Mapped Group that had management fees that were lower than the fund's. For example, a hypothetical TMG % of 20% would mean that 80% of the funds in the Total Mapped Group had higher, and 20% had lower, management fees than the fund. The fund's actual TMG %s are in the chart below. The "Asset-Size Peer Group" (ASPG) comparison focuses on a fund's standing relative to a subset of non-Fidelity funds within the Total Mapped Group that are similar in size and management fee structure. For example, if a fund is in the first quartile of the ASPG, the fund's management fee ranks in the least expensive or lowest 25% of funds in the ASPG. The ASPG represents at least 15% of the funds in the Total Mapped Group with comparable asset size and management fee structures, subject to a minimum of 50 funds (or all funds in the Total Mapped Group if fewer than 50). Additional information, such as the ASPG quartile in which the fund's management fee rate ranked, is also included in the chart and considered by the Board.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Fidelity New York Municipal Money Market Fund

nfs7952510

The Board noted that the fund's management fee rate ranked below the median of its Total Mapped Group and above the median of its ASPG for 2013.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of the fund's total expense ratio, the Board considered the fund's management fee as well as other fund expenses, such as transfer agent fees, pricing and bookkeeping fees, and custodial, legal, and audit fees. The Board also noted that Fidelity may agree to waive fees and expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of the fund compared to competitive fund median expenses. The fund is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure.

The Board noted that the fund's total expense ratio ranked below its competitive median for 2013. The Board considered that Fidelity has been voluntarily waiving part or all of the transfer agent fees and/or management fees to maintain a minimum yield, and also noted that Fidelity retains the ability to be repaid in certain circumstances.

Fees Charged to Other Fidelity Clients. The Board also considered Fidelity fee structures and other information with respect to clients of Fidelity, such as other funds advised or subadvised by Fidelity, pension plan clients, and other institutional clients. The Board noted the findings of the 2013 ad hoc joint committee (created with the board of other Fidelity funds), which reviewed and compared Fidelity's institutional investment advisory business with its business of providing services to the Fidelity funds, including the differences in services provided, fees charged, and costs incurred, as well as competition in their respective marketplaces.

Annual Report

Based on its review of total expense ratios and fees charged to other Fidelity clients, the Board concluded that the fund's total expense ratio was reasonable in light of the services that the fund and its shareholders receive and the other factors considered.

Costs of the Services and Profitability. The Board considered the revenues earned and the expenses incurred by Fidelity in conducting the business of developing, marketing, distributing, managing, administering and servicing the fund and servicing the fund's shareholders. The Board also considered the level of Fidelity's profits in respect of all the Fidelity funds.

On an annual basis, Fidelity presents to the Board information about the profitability of its relationship with the fund. Fidelity calculates profitability information for each fund, as well as aggregate profitability information for groups of Fidelity funds and all Fidelity funds, using a series of detailed revenue and cost allocation methodologies which originate with the books and records of Fidelity on which Fidelity's audited financial statements are based. The Audit Committee of the Board reviews any significant changes from the prior year's methodologies.

PricewaterhouseCoopers LLP (PwC), independent registered public accounting firm and auditor to Fidelity and certain Fidelity funds, has been engaged annually by the Board as part of the Board's assessment of Fidelity's profitability analysis. PwC's engagement includes the review and assessment of the methodologies used by Fidelity in determining the revenues and expenses attributable to Fidelity's mutual fund business, and completion of agreed-upon procedures in respect of the mathematical accuracy of fund profitability and its conformity to established allocation methodologies. After considering PwC's reports issued under the engagement and information provided by Fidelity, the Board concluded that while other allocation methods may also be reasonable, Fidelity's profitability methodologies are reasonable in all material respects.

The Board also reviewed Fidelity's non-fund businesses and fall-out benefits related to the mutual fund business as well as cases where Fidelity's affiliates may benefit from or be related to the fund's business.

The Board considered the costs of the services provided by and the profits realized by Fidelity in connection with the operation of the fund and was satisfied that the profitability was not excessive.

Economies of Scale. The Board considered whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is potential for realization of any further economies of scale. The Board considered the extent to which the fund will benefit from economies of scale as assets grow through increased services to the fund, through waivers or reimbursements, or through fee or expense ratio reductions. The Board also noted that in 2013, it and the boards of other Fidelity funds created an ad hoc committee (the Economies of Scale Committee) to analyze whether Fidelity attains economies of scale in respect of the management and servicing of the Fidelity funds, whether the Fidelity funds have appropriately benefited from such economies of scale, and whether there is potential for realization of any further economies of scale.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

The Board recognized that the fund's management contract incorporates a "group fee" structure, which provides for lower group fee rates as total group assets increase, and for higher group fee rates as total group assets decrease (with "group assets" defined to include fund assets under FMR's management plus sector fund assets previously under FMR's management and currently managed by Fidelity SelectCo, LLC). FMR calculates the group fee rates based on a tiered asset "breakpoint" schedule that varies based on asset class. The Board considered that the group fee is designed to deliver the benefits of economies of scale to fund shareholders when total Fidelity fund assets increase, even if assets of any particular fund are unchanged or have declined, because some portion of Fidelity's costs are attributable to services provided to all Fidelity funds, and all funds benefit if those costs can be allocated among more assets. The Board concluded that, given the group fee structure, fund shareholders will benefit from lower management fees as group assets increase at the fund complex level, regardless of whether Fidelity achieves any such economies of scale.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Additional Information Requested by the Board. In order to develop fully the factual basis for consideration of the Fidelity funds' Advisory Contracts, the Board requested and received additional information on certain topics, including: (i) Fidelity's fund profitability methodology, profitability trends for certain funds, and the impact of certain factors on fund profitability results; (ii) portfolio manager changes that have occurred during the past year and the amount of the investment that each portfolio manager has made in the Fidelity fund(s) that he or she manages; (iii) Fidelity's compensation structure for portfolio managers, research analysts, and other key personnel, including its effects on fund profitability, the rationale for the compensation structure, and the extent to which current market conditions have affected retention and recruitment; (iv) the arrangements with and compensation paid to certain fund sub-advisers on behalf of the Fidelity funds; (v) Fidelity's fee structures, including the group fee structure and definition of group assets, and the rationale for recommending different fees among different categories of funds and classes; (vi) Fidelity's voluntary waiver of its fees to maintain minimum yields for certain money market funds and classes as well as contractual waivers in place for certain funds; (vii) the methodology with respect to competitive fund data and peer group classifications; (viii) Fidelity's transfer agent fee, expense, and service structures for different funds and classes, and the impact of the increased use of omnibus accounts; and (ix) explanations regarding the relative total expense ratios of certain funds and classes, total expense competitive trends and methodologies for total expense competitive comparisons, and actions that might be taken by Fidelity to reduce total expense ratios for certain funds and classes or to achieve further economies of scale.

Annual Report

Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board ultimately concluded that the advisory fee structures are fair and reasonable, and that the fund's Advisory Contracts should be renewed.

Annual Report

Investment Adviser

Fidelity Management & Research
Company

Boston, MA

Investment Sub-Advisers

Fidelity Investments
Money Management, Inc.

Fidelity Management & Research
(U.K) Inc.

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Citibank, N.A.

New York, NY

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

Citibank, N.A.

New York, NY

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions
and Account Assistance 1-800-544-6666

Product Information 1-800-544-6666

Retirement Accounts 1-800-544-4774 (8 a.m. - 9 p.m.)

TDD Service 1-800-544-0118
for the deaf and hearing impaired
(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service
Telephone (FAST^®) nfs7952512
1-800-544-5555

Automated line for quickest service

(Fidelity Investment logo)(registered trademark)
Corporate Headquarters
245 Summer St., Boston, MA 02210
www.fidelity.com

NFS-UANN-0315
1.853332.107

Fidelity®

New York AMT
Tax-Free Money Market Fund -

Fidelity New York AMT Tax-Free
Money Market Fund

Institutional Class

Service Class

Annual Report

January 31, 2015

(Fidelity Cover Art)

Shareholder Expense Example	(Click Here)	An example of shareholder expenses.
Investment Changes/ Performance	(Click Here)	A summary of major shifts in the fund's investments over the past six months.
Investments	(Click Here)	A complete list of the fund's investments.
Financial Statements	(Click Here)	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	(Click Here)	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	(Click Here)
Trustees and Officers	(Click Here)
Distributions	(Click Here)
Board Approval of Investment Advisory Contracts and Management Fees	(Click Here)

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 for Fidelity® New York AMT Tax-Free Money Market Fund or 1-877-208-0098 for Institutional Class or Service Class of the fund to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

Annual Report

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Annual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2014 to January 31, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Annual Report

	Annualized Expense Ratio^B	Beginning Account Value August 1, 2014	Ending Account Value January 31, 2015	Expenses Paid During Period* August 1, 2014 to January 31, 2015
New York AMT Tax-Free Money Market	.06%
Actual		$ 1,000.00	$ 1,000.60	$ .30
Hypothetical^A		$ 1,000.00	$ 1,024.90	$ .31
Institutional Class	.06%
Actual		$ 1,000.00	$ 1,000.60	$ .30
Hypothetical^A		$ 1,000.00	$ 1,024.90	$ .31
Service Class	.06%
Actual		$ 1,000.00	$ 1,000.60	$ .30
Hypothetical^A		$ 1,000.00	$ 1,024.90	$ .31

^A 5% return per year before expenses

^B Annualized expense ratio reflects expenses net of applicable fee waivers.

* Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

Annual Report

Investment Changes/Performance (Unaudited)

Effective Maturity Diversification
Days	% of fund's investments 1/31/15	% of fund's investments 7/31/14	% of fund's investments 1/31/14
1 - 7	71.4	75.6	64.5
8 - 30	3.2	5.1	12.2
31 - 60	4.8	1.0	3.7
61 - 90	2.4	6.2	3.1
91 - 180	13.3	4.8	7.4
> 180	4.9	7.3	9.1

Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940.

Weighted Average Maturity
	1/31/15	7/31/14	1/31/14
Fidelity New York AMT Tax-Free Money Market Fund	40 Days	37 Days	42 Days
New York Tax-Free Money Market Fund Average*	34 Days	37 Days	32 Days

Weighted Average Life
	1/31/15	7/31/14	1/31/14
Fidelity New York AMT Tax-Free Money Market Fund	40 Days	37 Days	42 Days

* Source: iMoneyNet, Inc.

Annual Report

Asset Allocation (% of fund's net assets)
As of January 31, 2015		As of July 31, 2014
	Variable Rate Demand Notes (VRDNs) 69.3%		Variable Rate Demand Notes (VRDNs) 64.6%
	Other Municipal Debt 29.5%		Other Municipal Debt 31.5%
	Investment Companies 1.4%		Investment Companies 4.0%
	Net Other Assets (Liabilities) (0.2)%		Net Other Assets (Liabilities)** (0.1)%

nys7952478

** Net other assets (liabilities) are not included in the pie chart.

Current and Historical Seven-Day Yields

	1/31/15	10/31/14	7/31/14	4/30/14	1/31/14
New York AMT Tax-Free Money Market	0.01%	0.01%	0.01%	0.01%	0.01%

Institutional Class	0.01%	0.01%	0.01%	0.01%	0.01%

Service Class	0.01%	0.01%	0.01%	0.01%	0.01%

Yield refers to the income paid by the fund over a given period. Yields for money market funds are usually for seven-day periods, as they are here, though they are expressed as annual percentage rates. Past performance is no guarantee of future results. Yield will vary and it's possible to lose money investing in the Fund. A portion of the Fund's expenses was reimbursed and/or waived. Absent such reimbursements and/or waivers the yield for the period ending January 31, 2015, the most recent period shown in the table, would have been -0.24% for New York AMT Tax-Free Money Market, -0.19% for Institutional Class and -0.43% for Service Class.

Annual Report

Investments January 31, 2015

Showing Percentage of Net Assets

Variable Rate Demand Note - 69.3%
	Principal Amount		Value
Alabama - 0.1%
Mobile Indl. Dev. Board Dock & Wharf Rev. (Holnam, Inc. Proj.) Series 1999 A, 0.06% 2/6/15, LOC Bayerische Landesbank Girozentrale, VRDN (a)	$ 1,000,000		$ 1,000,000
Arizona - 0.2%
Maricopa County Poll. Cont. Rev. (Arizona Pub. Svc. Co. Palo Verde Proj.) Series 2009 A, 0.26% 2/6/15, VRDN (a)	1,500,000		1,500,000
Delaware - 0.2%
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.) Series 1999 A, 0.15% 2/6/15, VRDN (a)	1,500,000		1,500,000
Louisiana - 0.5%
Saint James Parish Gen. Oblig. (Nucor Steel Louisiana LLC Proj.):
Series 2010 A1, 0.21% 2/6/15, VRDN (a)	1,600,000		1,600,000
Series 2010 B1, 0.2% 2/6/15, VRDN (a)	2,600,000		2,600,000
			4,200,000
New York - 65.1%
Albany Indl. Dev. Agcy. Civic Facility Rev. (Albany Med. Ctr. Proj.) Series 2007 C, 0.04% 2/6/15, LOC Bank of America NA, VRDN (a)	1,605,000		1,605,000
Buffalo Muni. Wtr. Fin. Auth. Series 2008 A, 0.02% 2/6/15, LOC JPMorgan Chase Bank, VRDN (a)	3,520,000		3,520,000
Long Island Pwr. Auth. Elec. Sys. Rev.:
Series 1A, 0.06% 2/6/15, LOC Bayerische Landesbank Girozentrale, VRDN (a)	15,800,000		15,800,000
Subseries 2001 2B, 0.02% 2/2/15, LOC Bayerische Landesbank Girozentrale, VRDN (a)	9,060,000		9,060,000
Nassau Health Care Corp. Rev. Series 2009 D2, 0.04% 2/6/15, LOC JPMorgan Chase Bank, VRDN (a)	4,200,000		4,200,000
New York City Gen. Oblig.:
Participating VRDN:
Series BC 13 19U, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (a)(d)	5,340,000		5,340,000
Series MS 3361, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	5,000,000		5,000,000
Series Putters 3118, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	5,185,000		5,185,000
Series ROC II R 14045, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	3,000,000		3,000,000
Series 1996 J3, 0.02% 2/6/15, LOC JPMorgan Chase Bank, VRDN (a)	1,300,000		1,300,000
Series 2003 C2, 0.03% 2/6/15, LOC Bayerische Landesbank Girozentrale, VRDN (a)	5,275,000		5,275,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Gen. Oblig.: - continued
Series 2004 A2, 0.02% 2/6/15, LOC Bank of America NA, VRDN (a)	$ 13,700,000		$ 13,700,000
Series 2004 H2 0.02% 2/6/15, LOC California Pub. Employees Retirement Sys., VRDN (a)	9,000,000		9,000,000
Series 2006 E3, 0.01% 2/6/15, LOC Bank of America NA, VRDN (a)	5,400,000		5,400,000
Series 2006 H1, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (a)	5,700,000		5,700,000
Series 2006 I4, 0.02% 2/2/15 (Liquidity Facility California Pub. Employees Retirement Sys.), VRDN (a)	4,700,000		4,700,000
Series 2011 A4, 0.02% 2/6/15, LOC Bank of Tokyo-Mitsubishi UFJ Ltd., VRDN (a)	2,300,000		2,300,000
Series 2012 G3, 0.02% 2/6/15 (Liquidity Facility Citibank NA), VRDN (a)	13,500,000		13,500,000
Series 2013 A3, 0.01% 2/2/15 (Liquidity Facility Mizuho Corporate Bank Ltd.), VRDN (a)	1,700,000		1,700,000
Series 2014 D4, 0.01% 2/2/15, LOC TD Banknorth, NA, VRDN (a)	1,020,000		1,020,000
Series 2104 1, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (a)	2,300,000		2,300,000
New York City Hsg. Dev. Corp. Multi-family Hsg. Mtg. Rev. (The Crest Proj.) Series 2005 A, 0.03% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	11,300,000		11,300,000
New York City Hsg. Dev. Corp. Multi-family Mtg. Rev.:
(Bruckner by the Bridge Proj.) Series 2008 A, 0.01% 2/6/15, LOC Freddie Mac, VRDN (a)	1,900,000		1,900,000
(Elliott Chelsea Dev. Proj.) Series 2010 A, 0.01% 2/6/15, LOC Freddie Mac, VRDN (a)	2,200,000		2,200,000
New York City Hsg. Dev. Corp. Multi-family Rental Hsg. Rev.:
(90 West Street Proj.) Series 2006 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (a)	55,830,000		55,830,001
Series 2009 A, 0.02% 2/6/15, LOC Freddie Mac, VRDN (a)	1,300,000		1,300,000
New York City Indl. Dev. Agcy. Civic Facility Rev. (Planned Parenthood Proj.) 0.1% 2/6/15, LOC Bank of America NA, VRDN (a)	1,000,000		1,000,000
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.:
Participating VRDN:
Series BC 13 3WX, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (a)(d)	2,500,000		2,500,000
Series EGL 09 46A, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	2,400,000		2,400,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Muni. Wtr. Fin. Auth. Wtr. & Swr. Sys. Rev.: - continued
Participating VRDN:
Series Floaters 3129, 0.02% 2/6/15 (Liquidity Facility Cr. Suisse AG) (a)(d)	$ 2,100,000		$ 2,100,000
Series MS 00 3387, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	2,500,000		2,500,000
Series MS 3262 X, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	7,600,000		7,600,000
Series MS 3373, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	1,000,000		1,000,000
Series Putters 14 4450, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	3,505,000		3,505,000
Series Putters 3384, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	1,870,000		1,870,000
Series Putters 4397, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	5,000,000		5,000,000
Series Putters 4417, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	1,700,000		1,700,000
Series ROC II R 11916, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	2,040,000		2,040,000
Series 2008 B1, 0.01% 2/6/15 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (a)	8,700,000		8,700,000
Series 2008 BB4, 0.01% 2/6/15 (Liquidity Facility Royal Bank of Canada), VRDN (a)	30,200,000		30,200,000
Series 2014 AA, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (a)	2,700,000		2,700,000
Series 2015 BB3, 0.01% 2/6/15 (Liquidity Facility Sumitomo Mitsui Banking Corp.), VRDN (a)	10,000,000		10,000,000
New York City Transitional Fin. Auth. Bldg. Aid Rev. Participating VRDN Series MS 3414, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	4,000,000		4,000,000
New York City Transitional Fin. Auth. Rev.:
Participating VRDN:
Series BC 11 7B, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (a)(d)	5,000,000		5,000,000
Series MS 3360, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	3,130,000		3,130,000
Series MS 3393, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	2,890,000		2,890,000
Series Putters 3857, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	2,500,000		2,500,000
Series Putters 3868, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	3,750,000		3,750,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York City Transitional Fin. Auth. Rev.: - continued
Participating VRDN:
Series Putters 4043, 0.03% 2/2/15 (Liquidity Facility JPMorgan Chase & Co.) (a)(d)	$ 9,990,000		$ 9,990,000
Series RBC O 84, 0.02% 2/6/15 (Liquidity Facility Royal Bank of Canada) (a)(d)	3,000,000		3,000,000
Series 2003 A2, 0.02% 2/2/15 (Liquidity Facility Bank of Tokyo-Mitsubishi UFJ Ltd.), VRDN (a)	4,900,000		4,900,000
Series 2003 A4, 0.01% 2/2/15 (Liquidity Facility TD Banknorth, NA), VRDN (a)	2,200,000		2,200,000
Series 2003 C1, 0.02% 2/2/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (a)	8,710,000		8,710,000
Series 2003 C2, 0.04% 2/2/15 (Liquidity Facility Landesbank Hessen-Thuringen), VRDN (a)	6,300,000		6,300,000
Series 2013 A5, 0.01% 2/2/15 (Liquidity Facility U.S. Bank NA, Cincinnati), VRDN (a)	2,500,000		2,500,000
Series 2013 A6, 0.01% 2/2/15 (Liquidity Facility California Teachers Retirement Sys.), VRDN (a)	6,000,000		6,000,000
Series 2015 A4, 0.01% 2/2/15 (Liquidity Facility Mizuho Corporate Bank Ltd.), VRDN (a)	4,500,000		4,500,000
New York City Trust Cultural Resources Rev.:
(Lincoln Ctr. for the Performing Arts, Inc. Proj.) Series 2008 A1, 0.02% 2/2/15, LOC JPMorgan Chase Bank, VRDN (a)	15,970,000		15,970,000
(The New York Botanical Garden Proj.) Series 2009 A, 0.02% 2/6/15, LOC JPMorgan Chase Bank, VRDN (a)	3,000,000		3,000,000
Participating VRDN Series ROC II R 11927, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	1,400,000		1,400,000
New York Dorm. Auth. Personal Income Tax Rev. Participating VRDN Series Putters 3281Z, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	1,150,000		1,150,000
New York Dorm. Auth. Revs.:
(Catholic Heath Sys. Obligated Group Proj.) Series 2008, 0.02% 2/6/15, LOC HSBC Bank U.S.A., NA, VRDN (a)	1,300,000		1,300,000
(College of New Rochelle Proj.) Series 2008, 0.06% 2/6/15, LOC RBS Citizens NA, VRDN (a)	5,300,000		5,300,000
(Culinary Institute of America Proj.) Series 2004 D, 0.02% 2/6/15, LOC TD Banknorth, NA, VRDN (a)	9,450,000		9,450,000
(The Culinary Institute of America Proj.) Series 2006, 0.02% 2/6/15, LOC TD Banknorth, NA, VRDN (a)	1,325,000		1,325,000
Participating VRDN:
Series EGL 06 47 Class A, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	21,335,000		21,335,000
Series ROC II R 11722, 0.02% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	5,035,000		5,035,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York Dorm. Auth. Revs.: - continued
Participating VRDN:
Series 2006 A2, 0.02% 2/6/15, LOC TD Banknorth, NA, VRDN (a)	$ 4,500,000		$ 4,500,000
New York Envir. Facilities Corp. Clean Wtr. & Drinking Wtr. Participating VRDN:
Series BC 12 9 W, 0.03% 2/6/15 (Liquidity Facility Barclays Bank PLC) (a)(d)	4,100,000		4,100,000
Series Putters 3376, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	4,450,000		4,450,000
New York Envir. Facilities Corp. State Personal Income Tax Rev. Participating VRDN Series Putters 2666, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	3,185,000		3,185,000
New York Hsg. Fin. Agcy. Rev.:
(10 Barclay Street Hsg. Proj.) Series 2004 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (a)	4,100,000		4,100,000
(316 11th Ave Hsg. Proj.) Series 2009 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (a)	2,325,000		2,325,000
(330 Riverdale Avenue Apts. Proj.) Series 2008 A, 0.02% 2/6/15, LOC Bank of America NA, VRDN (a)	5,000,000		5,000,000
(505 West 37th Street Proj.):
Series 2009 A, 0.04% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	3,300,000		3,300,000
Series 2009 B, 0.04% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	3,300,000		3,300,000
(80 DeKalb Ave. Hsg. Proj.):
Series 2009 A, 0.03% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	4,100,000		4,100,000
Series 2009 B, 0.03% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	2,600,000		2,600,000
(Taconic West 17th St. Proj.) Series 2009 A, 0.02% 2/6/15, LOC Fannie Mae, VRDN (a)	1,700,000		1,700,000
(Tribeca Green Hsg. Proj.) Series 2003 A, 0.02% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	575,000		575,000
Series 2009 A, 0.03% 2/6/15, LOC Fannie Mae, VRDN (a)	800,000		800,000
Series 2010 A:
0.01% 2/6/15, LOC Freddie Mac, VRDN (a)	10,200,000		10,200,000
0.06% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	600,000		600,000
0.06% 2/6/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	4,000,000		4,000,000
Series 2013 A, 0.02% 2/6/15, LOC Wells Fargo Bank NA, VRDN (a)	24,500,000		24,500,000
Variable Rate Demand Note - continued
	Principal Amount		Value
New York - continued
New York Hsg. Fin. Agcy. Rev.: - continued
Series 2013 A2, 0.02% 2/6/15, LOC Bank of America NA, VRDN (a)	$ 2,100,000		$ 2,100,000
Series 2014 A, 0.02% 2/6/15, LOC Wells Fargo Bank NA, VRDN (a)	1,300,000		1,300,000
Series 2014 A2, 0.05% 2/6/15, LOC Manufacturers & Traders Trust Co., VRDN (a)	1,800,000		1,800,000
New York Hsg. Fin. Svc. Contract Rev. Series 2003 L, 0.02% 2/6/15, LOC Bank of America NA, VRDN (a)	1,400,000		1,400,000
New York Local Govt. Assistance Corp. Series 2008 B7V, 0.02% 2/6/15 (Liquidity Facility JPMorgan Chase Bank), VRDN (a)	13,185,000		13,185,000
New York Metropolitan Trans. Auth. Rev. Series 2005 D2, 0.03% 2/2/15, LOC Landesbank Hessen-Thuringen, VRDN (a)	2,400,000		2,400,000
New York Sales Tax Asset Receivables Corp. Participating VRDN Series Putters 4485, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	3,140,000		3,140,000
Syracuse Indl. Dev. Agcy. Civic Facility Rev. (Syracuse Univ. Proj.) Series 2005 A, 0.01% 2/6/15, LOC U.S. Bank NA, Cincinnati, VRDN (a)	3,605,000		3,605,000
Triborough Bridge & Tunnel Auth. Revs.:
Participating VRDN:
Series MS 3083, 0.03% 2/6/15 (Liquidity Facility Morgan Stanley Bank, West Valley City Utah) (a)(d)	6,975,000		6,975,000
Series Putters 3685, 0.03% 2/6/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)	5,605,000		5,605,000
Series 2003 B1, 0.02% 2/6/15, LOC PNC Bank NA, VRDN (a)	5,300,000		5,300,000
Series 2005 B3, 0.02% 2/6/15 (Liquidity Facility Bank of America NA), VRDN (a)	23,735,000		23,735,000
Util. Debt Securitization Auth. Participating VRDN Series RBC O 74, 0.02% 2/6/15 (Liquidity Facility Royal Bank of Canada) (a)(d)	1,100,000		1,100,000
Westchester County Indl. Agcy. Rev. Series 2001, 0.22% 2/6/15, LOC RBS Citizens NA, VRDN (a)	1,000,000		1,000,000
Yonkers Indl. Dev. Agcy. Civic Facility Rev. (Consumers Union of United States, Inc. Proj.) Series 2005, 0.02% 2/6/15, LOC JPMorgan Chase Bank, VRDN (a)	5,025,000		5,025,000
			571,590,001
Variable Rate Demand Note - continued
	Principal Amount		Value
New York And New Jersey - 1.6%
Port Auth. of New York & New Jersey:
Participating VRDN:
Series ROC II R 11439, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	$ 7,200,000		$ 7,200,000
Series ROC II R 14077, 0.03% 2/6/15 (Liquidity Facility Citibank NA) (a)(d)	2,585,000		2,585,000
Series 1997 1, 0.07% 3/2/15, VRDN (a)(e)	1,000,000		1,000,000
Series 1997 2, 0.07% 3/2/15, VRDN (a)(e)	3,800,000		3,800,000
			14,585,000
North Carolina - 0.9%
Parson County Indl. Facilities and Poll. Cont. Fing. Auth. (CertainTeed Gypsum NC, Inc. Proj.) Series 2010, 0.03% 2/6/15, LOC Cr. Industriel et Commercial, VRDN (a)	7,650,000		7,650,000
Pennsylvania - 0.1%
Cumberland County Muni. Auth. Rev. (Messiah Village Proj.) Series 2008 B, 0.11% 2/6/15, LOC Citizens Bank of Pennsylvania, VRDN (a)	1,000,000		1,000,000
Rhode Island - 0.3%
Rhode Island Health & Edl. Bldg. Corp. Higher Ed. Facilities Rev. Series 2007, 0.1% 2/6/15, LOC Bank of America NA, VRDN (a)	2,865,000		2,865,000
Texas - 0.3%
Port Arthur Navigation District Envir. Facilities Rev. (Motiva Enterprises LLC Proj.):
Series 2001 A, 0.12% 2/2/15, VRDN (a)	300,000		300,000
Series 2010 B, 0.12% 2/2/15, VRDN (a)	400,000		400,000
Series 2010 C, 0.11% 2/2/15, VRDN (a)	2,000,000		2,000,000
			2,700,000
TOTAL VARIABLE RATE DEMAND NOTE (Cost $608,590,001)		608,590,001
Other Municipal Debt - 29.5%

Kentucky - 0.0%
Jefferson County Poll. Cont. Rev. Bonds (Louisville Gas & Elec. Co. Proj.) Series 2001 A, 0.2% tender 2/20/15, CP mode	300,000		300,000
Massachusetts - 0.5%
Massachusetts Indl. Fin. Agcy. Poll. Cont. Rev. Bonds (New England Pwr. Co. Proj.) Series 1992:
0.25% tender 3/3/15, CP mode	400,000		400,000
Other Municipal Debt - continued
	Principal Amount		Value
Massachusetts - continued
Massachusetts Indl. Fin. Agcy. Poll. Cont. Rev. Bonds (New England Pwr. Co. Proj.) Series 1992: - continued
0.25% tender 3/6/15, CP mode	$ 1,300,000		$ 1,300,000
0.25% tender 3/12/15, CP mode	2,400,000		2,400,000
			4,100,000
New York - 27.9%
Albany County Gen. Oblig. TAN 0.75% 5/15/15	1,400,000		1,402,420
Amherst Central School District BAN Series 2014 A, 1% 6/24/15	1,800,000		1,805,910
Bellmore-Merrick Central School District BAN 1% 7/24/15	1,300,000		1,303,186
Bethlehem Central School District BAN Series 2014, 1% 6/18/15	2,400,000		2,407,639
Briarcliff Manor Union Free School District BAN 1% 7/17/15	1,600,000		1,606,025
Cheektowaga Gen. Oblig. BAN 0.5% 7/16/15	4,500,000		4,507,506
Cheektowaga-Maryvale Union Free School District BAN Series 2014, 1% 6/24/15	1,500,000		1,504,627
Clarkstown Central School District BAN 1.25% 11/20/15	1,000,000		1,008,136
Commack Union Free School District TAN 1% 6/26/15	3,200,000		3,210,940
Deer Park Union Free School District TAN 1% 6/25/15	2,500,000		2,508,480
East Greenbush Central School District BAN Series 2014, 1% 2/17/15	1,500,000		1,500,527
East Hampton Union Free School District TAN 1% 6/25/15	1,700,000		1,705,565
East Syracuse-Minoa Central School District BAN 1.5% 10/9/15	1,400,000		1,411,660
Eastchester Union Free School District TAN 0.5% 2/26/15	1,800,000		1,800,476
Elwood Union Free School District TAN 1% 6/26/15	1,500,000		1,504,890
Gates Chili Central School District BAN 1% 6/26/15	1,467,178		1,472,121
Greece Central School District BAN 1% 6/26/15	1,300,000		1,304,070
Half Hollow Hills Central School District of Huntington & Babylon TAN 1% 6/25/15	5,900,000		5,920,010
Hampton Bays Union Free School District TAN 1% 6/19/15	1,700,000		1,705,447
Hauppauge Union Free School District TAN 1% 6/26/15	3,200,000		3,211,205
Hempstead Town Gen. Oblig. Bonds Series 2014 B, 3% 2/1/15	1,295,000		1,295,000
Hempstead Union Free School District TAN 1% 6/26/15	2,700,000		2,708,690
Hilton Central School District BAN 1% 6/24/15	2,000,000		2,006,410
Honeoye Falls Lima Central School District BAN 1% 6/17/15	1,300,000		1,304,109
Islip Union Free School District:
BAN:
0.5% 3/6/15	1,900,000		1,900,655
1% 3/6/15	700,000		700,499
TAN 1% 6/26/15	2,500,000		2,508,252
Other Municipal Debt - continued
	Principal Amount		Value
New York - continued
JPMorgan Chase Bonds Series Putters 4410, 0.07%, tender 4/23/15 (Liquidity Facility JPMorgan Chase Bank) (a)(d)(e)	$ 9,645,000		$ 9,645,000
Kings Park Central School District TAN 1% 6/26/15	2,500,000		2,508,646
Lancaster Central School District BAN 1% 6/18/15	1,700,000		1,705,411
Lindenhurst Unified Free School District TAN 1% 6/19/15	2,800,000		2,809,332
Liverpool Central School District Gen. Oblig. BAN Series 2014 A, 0.5% 7/8/15	1,400,000		1,402,103
Longwood Central School District:
BAN Series 2014 B, 1% 6/19/15	3,300,000		3,310,580
TAN 1% 6/26/15	4,300,000		4,314,343
Manhasset Union Free School District TAN 1% 6/19/15	1,500,000		1,504,983
Middle Country Century School District TAN 1% 6/26/15	5,300,000		5,318,313
Middletown City School District BAN Series 2014, 1% 7/9/15	6,900,000		6,925,338
Mount Sinai Union Free School District TAN Series 2014, 1% 6/25/15	1,100,000		1,103,371
Nassau Health Care Corp. Rev. Bonds Series 2009 C2, 0.07%, tender 4/7/15, LOC Wells Fargo Bank NA (a)	1,000,000		1,000,000
New York City Gen. Oblig. Bonds:
Series 2009 A1, 4% 8/15/15	1,000,000		1,020,547
Series 2010 C, 5% 8/1/15	840,000		860,037
Series 2010 E, 5% 8/1/15	3,435,000		3,517,612
Series 2011 A, 5% 8/1/15	1,500,000		1,535,979
Series 2013 B, 5% 8/1/15	1,000,000		1,024,133
Series 2013 F, 2% 8/1/15	1,000,000		1,009,231
Series B, 5% 8/1/15	1,000,000		1,024,118
New York City Transitional Fin. Auth. Rev. Bonds:
Series 2010 D, 5% 11/1/15	445,000		460,947
Series 2011 E, 5% 11/1/15	1,585,000		1,641,423
Series 2013, 2% 5/1/15	1,370,000		1,376,359
New York City Trust For Cultural Bonds Series 2014 B2, 0.03%, tender 6/5/15 (a)	1,900,000		1,900,000
New York City Trust For Cultural Rev. Bonds Series 2014 B1, 0.03%, tender 8/28/15 (a)	2,300,000		2,300,000
New York Dorm. Auth. Mental Health Svcs. Facilities Impt. Rev. Bonds 5% 2/15/15	1,340,000		1,342,463
New York Dorm. Auth. Personal Income Tax Rev. Bonds:
Series 2011 A, 5% 3/15/15	5,560,000		5,591,607
Series 2012 B, 5% 3/15/15	2,400,000		2,413,492
Series 2014 C, 2% 6/15/15	1,300,000		1,308,904
Series 2014 E:
3% 2/15/16	3,100,000		3,190,458
5% 2/15/15	1,100,000		1,102,018
Other Municipal Debt - continued
	Principal Amount		Value
New York - continued
New York Dorm. Auth. Personal Income Tax Rev. Bonds: - continued
Series 2014 E:
5% 2/15/15	$ 1,995,000		$ 1,998,696
New York Dorm. Auth. Revs. Series 1998, 0.08% 4/2/15, CP	2,700,000		2,700,000
New York Dorm. Auth. Sales Tax Rev. Bonds Series 2013 A, 2% 3/15/15	2,600,000		2,605,774
New York Local Govt. Assistance Corp. Bonds Series 2007 A, 5% 4/1/15	700,000		705,496
New York Metropolitan Trans. Auth. Dedicated Tax Fund Rev. Bonds Series 2006 B, 5% 11/15/15	1,640,000		1,701,749
New York Metropolitan Trans. Auth. Rev.:
Series 2A:
0.09% 4/9/15, LOC TD Banknorth, NA, CP	1,900,000		1,900,000
0.1% 2/12/15, LOC TD Banknorth, NA, CP	4,600,000		4,600,000
Series 2B, 0.08% 2/11/15, LOC Barclays Bank PLC, CP	8,600,000		8,600,000
Series 2D:
0.07% 3/10/15, LOC Citibank NA, CP	8,500,000		8,500,000
0.09% 2/6/15, LOC Citibank NA, CP	8,700,000		8,700,000
New York Pwr. Auth.:
Series 1:
0.06% 5/1/15, CP	2,400,000		2,400,000
0.09% 5/19/15, CP	5,613,000		5,613,000
0.09% 9/8/15, CP	7,200,000		7,200,000
Series 2:
0.04% 3/17/15, CP	4,000,000		4,000,000
0.07% 5/7/15, CP	3,800,000		3,800,000
New York Sales Tax Asset Receivables Corp. Bonds Series 2015 A, 5% 10/15/15	6,300,000		6,515,863
New York State Gen. Oblig. Bonds:
Series 2005 A, 4% 3/15/15	1,105,000		1,109,965
Series 2013 C, 5% 4/15/15	1,600,000		1,615,523
New York Thruway Auth. Personal Income Tax Rev. Bonds:
Series 2006 A, 4.25% 3/15/15	1,450,000		1,456,862
Series 2009 A, 5% 3/15/15	1,000,000		1,005,711
New York Thruway Auth. Svc. Contract Rev. Bonds Series 2012 A, 4% 4/1/15	2,600,000		2,616,457
Pittsford Central School District BAN 1.25% 2/12/16 (f)	2,600,000		2,627,768
Riverhead Central School District TAN 1% 6/25/15	2,800,000		2,809,734
Rochester Gen. Oblig.:
BAN Series 2014, 1.25% 3/18/15	1,830,000		1,832,387
Bonds Series 2013 ll, 5% 2/1/15	2,300,000		2,300,000
Sag Hbr. Union Free School District TAN 1% 6/26/15	1,500,000		1,505,130
Other Municipal Debt - continued
	Principal Amount		Value
New York - continued
Scotia Glenville Central School District BAN Series 2014, 1% 6/26/15	$ 1,400,000		$ 1,404,605
South Huntington Union Free School District TAN 1.5% 6/26/15	2,100,000		2,111,177
Southampton Union Free School District TAN 1% 6/19/15	2,100,000		2,106,920
Syosset Central School District TAN 1% 6/25/15	2,900,000		2,910,083
Three Village Central School District:
BAN 1.25% 8/28/15	1,100,000		1,106,883
TAN 0.75% 6/25/15	3,600,000		3,608,939
Tobacco Settlement Fing. Corp. Bonds Series 2011, 5% 6/1/15	3,150,000		3,199,942
Victor Central School District BAN 1.25% 9/25/15	2,988,203		3,008,625
West Babylon Union Free School District TAN 1.25% 6/26/15	2,600,000		2,611,268
West Seneca BAN Series 2014, 1% 7/30/15	1,700,000		1,707,111
Westhampton Beach Union Free School District TAN 1% 6/25/15	1,500,000		1,505,141
			245,092,012
New York And New Jersey - 1.1%
Port Auth. of New York & New Jersey:
Bonds Series 148, 5% 8/15/15	1,000,000		1,025,921
Series B:
0.08% 3/25/15, CP	1,945,000		1,945,000
0.08% 6/10/15, CP	800,000		800,000
0.09% 2/12/15, CP	2,300,000		2,300,000
0.09% 3/3/15, CP	1,405,000		1,405,000
0.09% 6/3/15, CP	1,900,000		1,900,000
			9,375,921
TOTAL OTHER MUNICIPAL DEBT (Cost $258,867,933)		258,867,933
Investment Company - 1.4%
	Shares		Value
Fidelity Tax-Free Cash Central Fund, 0.02% (b)(c) (Cost $12,501,000)	12,501,000		$ 12,501,000
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $879,958,934)			879,958,934
NET OTHER ASSETS (LIABILITIES) - (0.2)%			(1,870,464)
NET ASSETS - 100%		$ 878,088,470

Security Type Abbreviations
BAN	-	BOND ANTICIPATION NOTE
CP	-	COMMERCIAL PAPER
TAN	-	TAX ANTICIPATION NOTE
VRDN	-	VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)

Legend

(a) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(b) Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Tax-Free Cash Central Fund.

(c) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(d) Provides evidence of ownership in one or more underlying municipal bonds.

(e) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $14,445,000 or 1.6% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Cost
JPMorgan Chase Bonds Series Putters 4410, 0.07%, tender 4/23/15 (Liquidity Facility JPMorgan Chase Bank)	10/31/13	$ 9,645,000
Port Auth. of New York & New Jersey Series 1997 1, 0.07% 3/2/15, VRDN	10/14/14	$ 1,000,000
Port Auth. of New York & New Jersey Series 1997 2, 0.07% 3/2/15, VRDN	1/3/13 - 9/12/14	$ 3,800,000

(f) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Tax-Free Cash Central Fund	$ 11,609

Other Information

All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements

Statement of Assets and Liabilities

	January 31, 2015

Assets
Investment in securities, at value - See accompanying schedule: Unaffiliated issuers (cost $867,457,934)	$ 867,457,934
Fidelity Central Funds (cost $12,501,000)	12,501,000
Total Investments (cost $879,958,934)		$ 879,958,934
Cash		500,033
Receivable for fund shares sold		198,103
Distributions receivable from Fidelity Central Funds		177
Interest receivable		1,417,991
Receivable from investment adviser for expense reductions		20,547
Other receivables		1,281
Total assets		882,097,066

Liabilities
Payable for investments purchased
Regular delivery	$ 511,980
Delayed delivery	2,627,768
Payable for fund shares redeemed	712,144
Distributions payable	1,254
Accrued management fee	56,612
Other affiliated payables	98,703
Other payables and accrued expenses	135
Total liabilities		4,008,596

Net Assets		$ 878,088,470
Net Assets consist of:
Paid in capital		$ 878,088,470
Net Assets		$ 878,088,470

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements - continued

Statement of Assets and Liabilities - continued

	January 31, 2015

New York AMT Tax-Free Money Market: Net Asset Value, offering price and redemption price per share ($317,820,862 ÷ 317,395,750 shares)		$ 1.00

Institutional Class: Net Asset Value, offering price and redemption price per share ($559,878,174 ÷ 559,327,639 shares)		$ 1.00

Service Class: Net Asset Value, offering price and redemption price per share ($389,434 ÷ 389,041 shares)		$ 1.00

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Operations

	Year ended January 31, 2015

Investment Income
Interest		$ 762,409
Income from Fidelity Central Funds		11,609
Total income		774,018

Expenses
Management fee	$ 1,785,993
Transfer agent fees	613,573
Distribution and service plan fees	1,459
Independent trustees' compensation	4,002
Total expenses before reductions	2,405,027
Expense reductions	(1,720,373)	684,654
Net investment income (loss)		89,364
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers		24,300
Capital gain distributions from Fidelity Central Funds		816
Total net realized gain (loss)		25,116
Net increase in net assets resulting from operations		$ 114,480

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Statements - continued

Statement of Changes in Net Assets

	Year ended January 31, 2015	Year ended January 31, 2014
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 89,364	$ 101,607
Net realized gain (loss)	25,116	113,608
Net increase in net assets resulting from operations	114,480	215,215
Distributions to shareholders from net investment income	(89,332)	(101,637)
Distributions to shareholders from net realized gain	(456,585)	(96,675)
Total distributions	(545,917)	(198,312)
Share transactions - net increase (decrease)	(69,398,521)	(130,061,729)
Total increase (decrease) in net assets	(69,829,958)	(130,044,826)

Net Assets
Beginning of period	947,918,428	1,077,963,254
End of period	$ 878,088,470	$ 947,918,428

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - New York AMT Tax-Free Money Market

Years ended January 31,	2015	2014	2013	2012	2011
Selected Per-Share Data
Net asset value, beginning of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Income from Investment Operations
Net investment income (loss)_D	-	-	-	-	-
Net realized and unrealized gain (loss)_D	-	-	-	-	-
Total from investment operations_D	-	-	-	-	-
Distributions from net investment income_D	-	-	-	-	-
Distributions from net realized gain_D	-	-	-	-	-
Total distributions_D	-	-	-	-	-
Net asset value, end of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Total Return^A	.06%	.02%	.02%	.02%	.02%
Ratios to Average Net Assets^{B, C}
Expenses before reductions	.30%	.30%	.30%	.30%	.30%
Expenses net of fee waivers, if any	.08%	.13%	.20%	.20%	.29%
Expenses net of all reductions	.08%	.13%	.20%	.20%	.29%
Net investment income (loss)	.01%	.01%	.01%	.01%	.01%
Supplemental Data
Net assets, end of period (000 omitted)	$ 317,821	$ 351,728	$ 384,955	$ 461,901	$ 537,828

^A Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^C Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed or waived or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement and waivers but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

^D Amount represents less than $.001 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Institutional Class

Years ended January 31,	2015	2014	2013	2012	2011
Selected Per-Share Data
Net asset value, beginning of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Income from Investment Operations
Net investment income (loss)	- ^D	- ^D	- ^D	- ^D	.001
Net realized and unrealized gain (loss) ^D	-	-	-	-	-
Total from investment operations	- ^D	- ^D	- ^D	- ^D	.001
Distributions from net investment income	- ^D	- ^D	- ^D	- ^D	(.001)
Distributions from net realized gain ^D	-	-	-	-	-
Total distributions	- ^D	- ^D	- ^D	- ^D	(.001)
Net asset value, end of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Total Return^A	.06%	.02%	.02%	.04%	.11%
Ratios to Average Net Assets^{B, C}
Expenses before reductions	.25%	.25%	.25%	.25%	.25%
Expenses net of fee waivers, if any	.08%	.13%	.19%	.18%	.20%
Expenses net of all reductions	.08%	.13%	.19%	.18%	.20%
Net investment income (loss)	.01%	.01%	.01%	.04%	.11%
Supplemental Data
Net assets, end of period (000 omitted)	$ 559,878	$ 594,796	$ 691,245	$ 870,920	$ 1,133,818

^A Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Amount represents less than $.001 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Service Class

Years ended January 31,	2015	2014	2013	2012	2011
Selected Per-Share Data
Net asset value, beginning of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Income from Investment Operations
Net investment income (loss) ^D	-	-	-	-	-
Net realized and unrealized gain (loss) ^D	-	-	-	-	-
Total from investment operations ^D	-	-	-	-	-
Distributions from net investment income ^D	-	-	-	-	-
Distributions from net realized gain ^D	-	-	-	-	-
Total distributions ^D	-	-	-	-	-
Net asset value, end of period	$ 1.00	$ 1.00	$ 1.00	$ 1.00	$ 1.00
Total Return^A	.06%	.02%	.02%	.02%	.01%
Ratios to Average Net Assets^{B, C}
Expenses before reductions	.50%	.50%	.50%	.50%	.50%
Expenses net of fee waivers, if any	.08%	.13%	.19%	.20%	.29%
Expenses net of all reductions	.08%	.13%	.19%	.20%	.29%
Net investment income (loss)	.01%	.01%	.01%	.01%	.01%
Supplemental Data
Net assets, end of period (000 omitted)	$ 389	$ 1,394	$ 1,763	$ 1,263	$ 3,064

^A Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

^D Amount represents less than $.001 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Financial Statements

For the period ended January 31, 2015

1. Organization.

Fidelity New York AMT Tax-Free Money Market Fund (the Fund) is a fund of Fidelity New York Municipal Trust II (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. The Fund offers New York AMT Tax-Free Money Market, Institutional Class and Service Class shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. The Fund may be affected by economic and political developments in the state of New York.

2. Investments in Fidelity Central Funds.

3. Significant Accounting Policies.

Annual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Security Valuation. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Annual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of January 31, 2015, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Dividends are declared and recorded daily and paid monthly from net investment income. Distributions from realized gains, if any, are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Book-tax differences are primarily due to deferred trustees compensation.

The Fund purchases municipal securities whose interest, in the opinion of the issuer, is free from federal income tax. There is no assurance that the IRS will agree with this opinion. In the event the IRS determines that the issuer does not comply with relevant tax requirements, interest payments from a security could become federally taxable, possibly retroactively to the date the security was issued.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

Gross unrealized appreciation	$ -
Gross unrealized depreciation	-
Net unrealized appreciation (depreciation) on securities	$ -

Tax Cost	$ 879,958,934

The tax-based components of distributable earnings as of period end were as follows:

Undistributed tax-exempt income

$ 385

Annual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The tax character of distributions paid was as follows:

	January 31, 2015	January 31, 2014
Tax-exempt Income	89,332	101,637
Ordinary Income	$ 456,585	-
Long-term Capital Gains	-	96,675
Total	$ 545,917	$ 198,312

Annual Report

3. Significant Accounting Policies - continued

New Rule Issuance. In July 2014, the U.S. Securities and Exchange Commission issued Final Rule Release No. 33-9616, Money Market Fund Reform; Amendments to Form PF, which amends the rules governing money market funds. The final amendments impose different implementation dates for the changes that certain money market funds will need to make. Management is currently evaluating the implication of these amendments and their impact of the Final Rule to the Money Market Fund's financial statements and related disclosures.

4. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .20% of the Fund's average net assets. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense. The management fee is reduced by an amount equal to the fees and expenses paid by the Fund to the independent Trustees.

In addition, under the expense contract, the investment adviser pays class-level expenses for New York AMT Tax-Free Money Market so that the total expenses do not exceed .35%, expressed as a percentage of class average net assets, with certain exceptions such as interest expense.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Service Class pays Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, a Service Fee based on an annual percentage of Service Class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Service Fee rate, total service fees and amounts retained by FDC were as follows:

	Service Fee	Total Fees	Retained by FDC
Service Class	.25%	$ 1,459	$ -

During the period, the investment adviser or its affiliates waived a portion of these fees.

Transfer Agent and Accounting Fees. Citibank, N.A. (Citibank) is the custodian, transfer agent, and servicing agent for the Fund. Citibank has entered into a sub-arrangement with Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, under which FIIOC performs the activities associated with the Fund's transfer agency, dividend disbursing and shareholder servicingfunctions. FIIOC pays for typesetting, printing and mailing of shareholder reports, except

Annual Report

Notes to Financial Statements - continued

4. Fees and Other Transactions with Affiliates - continued

Transfer Agent and Accounting Fees - continued

proxy statements. The transfer agent fee for each class is paid to Citibank. For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
New York AMT Tax-Free Money Market	$ 332,553	.10
Institutional Class	280,728	.05
Service Class	292	.05
	$ 613,573

During the period, the investment adviser or its affiliates waived a portion of these fees.

5. Expense Reductions.

The investment adviser contractually agreed to reimburse Institutional Class and Service Class to the extent annual operating expenses, expressed as a percentage of each class' average net assets, exceed .20% and .45%, respectively. Some expenses, for example interest expense, are excluded from this reimbursement. During the period, this reimbursement reduced Institutional Class and Service Class expenses by $281,307 and $319, respectively.

Additionally, the investment adviser or its affiliates voluntarily agreed to waive certain fees in order to maintain a minimum annualized yield of ..01%. Such arrangements may be discontinued by the investment adviser at any time. For the period, the amount of the waiver for each class was as follows:

	Amount
New York AMT Tax-Free Money Market	$ 742,990
Institutional Class	691,659
Service Class	2,123

Annual Report

6. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

Years ended January 31,	2015	2014
From net investment income
New York AMT Tax-Free Money Market	$ 33,203	$ 37,113
Institutional Class	56,069	64,370
Service Class	60	154
Total	$ 89,332	$ 101,637
From net realized gain
New York AMT Tax-Free Money Market	$ 169,982	$ 35,485
Institutional Class	286,467	61,051
Service Class	136	139
Total	$ 456,585	$ 96,675

7. Share Transactions.

Share transactions for each class of shares at a $1.00 per share were as follows and may contain automatic conversions between classes or exchanges between funds:

Years ended January 31,	2015	2014
New York AMT Tax-Free Money Market
Shares sold	59,261,500	117,537,951
Reinvestment of distributions	178,993	64,443
Shares redeemed	(93,169,516)	(150,842,552)
Net increase (decrease)	(33,729,023)	(33,240,158)
Institutional Class
Shares sold	104,709,800	105,425,851
Reinvestment of distributions	286,048	106,191
Shares redeemed	(139,662,542)	(201,984,058)
Net increase (decrease)	(34,666,694)	(96,452,016)
Service Class
Shares sold	831,138	1,203,192
Reinvestment of distributions	203	293
Shares redeemed	(1,834,145)	(1,573,040)
Net increase (decrease)	(1,002,804)	(369,555)

8. Other.

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity New York Municipal Trust II and Shareholders of Fidelity New York AMT Tax-Free Money Market Fund:

We have audited the accompanying statement of assets and liabilities of Fidelity New York AMT Tax-Free Money Market Fund (the Fund), a fund of Fidelity New York Municipal Trust II, including the schedule of investments, as of January 31, 2015, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Fidelity New York AMT Tax-Free Money Market Fund as of January 31, 2015, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

March 17, 2015

Annual Report

Trustees and Officers

The Trustees, Member of the Advisory Board, and officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, oversee management of the risks associated with such activities and contractual arrangements, and review the fund's performance. Except for Elizabeth S. Acton and John Engler, each of the Trustees oversees 235 funds. Ms. Acton and Mr. Engler each oversees 217 funds.

Annual Report

Trustees and Officers - continued

The fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544 for Fidelity New York AMT Tax-Free Money Market Fund or 1-877-208-0098 for Institutional Class or Service Class.

Interested Trustee*:

Correspondence intended for the Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
Abigail P. Johnson (1961)
Year of Election or Appointment: 2009 Trustee Chairman of the Board of Trustees
	Ms. Johnson also serves as Trustee of other Fidelity funds. Ms. Johnson serves as President (2013-present) and Chief Executive Officer (2014-present) of FMR LLC, President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of FMR Co., Inc. (2011-present), Chairman and Director of FMR (2011-present), and the Vice Chairman and Director (2007-present) of FMR LLC. Previously, Ms. Johnson served as President and a Director of FMR (2001-2005), a Trustee of other investment companies advised by FMR, Fidelity Investments Money Management, Inc., and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity funds (2001-2005), and managed a number of Fidelity funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.

Annual Report

* Trustee has been determined to be an "Interested Trustee" by virtue of, among other things, her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for the Independent Trustee (that is, the Trustees other than the Interested Trustee) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience⁺
Elizabeth S. Acton (1951)
Year of Election or Appointment: 2013 Trustee
	Ms. Acton also serves as Trustee or Member of the Advisory Board of other Fidelity funds. Prior to her retirement in April 2012, Ms. Acton was Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011), and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board of Directors and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present).
John Engler (1948)
Year of Election or Appointment: 2014 Trustee
	Mr. Engler also serves as Trustee or Member of the Advisory Board of other Fidelity funds. He serves as president of the Business Roundtable (2011-present), and on the board of directors/trustees for Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-present), K12 Inc. (technology-based education company, 2012-present), and the Annie E. Casey Foundation (2004-present). Previously, Mr. Engler served as a trustee of The Munder Funds (2003-2014), president and CEO of the National Association of Manufacturers (2004-2011) and as governor of Michigan (1991-2003). He is a past chairman of the National Governors Association.
Albert R. Gamper, Jr. (1942)
Year of Election or Appointment: 2006 Trustee Chairman of the Independent Trustees
	Mr. Gamper also serves as Trustee of other Fidelity funds. Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (2002-2003). Mr. Gamper currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2000-present), and Member of the Board of Trustees of Barnabas Health Care System (1997-present). Previously, Mr. Gamper served as Vice Chairman of the Independent Trustees of certain Fidelity funds (2011-2012) and as Chairman of the Board of Governors, Rutgers University (2004-2007).
Robert F. Gartland (1951)
Year of Election or Appointment: 2010 Trustee
	Mr. Gartland also serves as Trustee of other Fidelity funds. Mr. Gartland is Chairman and an investor in Gartland and Mellina Group Corp. (consulting, 2009-present). Previously, Mr. Gartland served as a partner and investor of Vietnam Partners LLC (investments and consulting, 2008-2011). Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007) including Managing Director (1987-2007).
Arthur E. Johnson (1947)
Year of Election or Appointment: 2008 Trustee
	Mr. Johnson also serves as Trustee of other Fidelity funds. Mr. Johnson serves as a member of the Board of Directors of Eaton Corporation plc (diversified power management, 2009-present), AGL Resources, Inc. (holding company, 2002-present) and Booz Allen Hamilton (management consulting, 2011-present). Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). He previously served on the Board of Directors of IKON Office Solutions, Inc. (1999-2008) and Delta Airlines (2005-2007). Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.
Michael E. Kenneally (1954)
Year of Election or Appointment: 2009 Trustee
	Mr. Kenneally also serves as Trustee of other Fidelity funds. Mr. Kenneally served as a Member of the Advisory Board for certain Fidelity funds before joining the Board of Trustees (2008-2009). Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management. Before joining Credit Suisse, he was an Executive Vice President and Chief Investment Officer for Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager and Research Analyst, and Mr. Kenneally was awarded the Chartered Financial Analyst (CFA) designation in 1991.
James H. Keyes (1940)
Year of Election or Appointment: 2007 Trustee
	Mr. Keyes also serves as Trustee of other Fidelity funds. Mr. Keyes serves as a member of the Board and Non-Executive Chairman of Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, since 2002). Previously, Mr. Keyes served as a member of the Board of Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions, 1998-2013). Prior to his retirement, Mr. Keyes served as Chairman (1993-2002) and Chief Executive Officer (1988-2002) of Johnson Controls (automotive, building, and energy) and as a member of the Board of LSI Logic Corporation (semiconductor technologies, 1984-2008).
Marie L. Knowles (1946)
Year of Election or Appointment: 2001 Trustee Vice Chairman of the Independent Trustees
	Ms. Knowles also serves as Trustee of other Fidelity funds. Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. Ms. Knowles currently serves as a Director and Chairman of the Audit Committee of McKesson Corporation (healthcare service, since 2002). Ms. Knowles is a member of the Board of the Catalina Island Conservancy and of the Santa Catalina Island Company (2009-present). She also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Previously, Ms. Knowles served as a Director of Phelps Dodge Corporation (copper mining and manufacturing, 1994-2007), URS Corporation (engineering and construction, 2000-2003) and America West (airline, 1999-2002).

Annual Report

Advisory Board Member and Officers:

Correspondence intended for each officer and Geoffrey A. von Kuhn may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.

Name, Year of Birth; Principal Occupation
Geoffrey A. von Kuhn (1951)
Year of Election or Appointment: 2015 Member of the Advisory Board
	Mr. von Kuhn also serves as a Trustee or Member of the Advisory Board of other Fidelity funds. Mr. von Kuhn is Chief Administrative Officer for FMR LLC (diversified financial services company, 2013-present), a Director of Pembroke Real Estate, Inc. (2009-present), and a Director of Discovery Natural Resources LLC (2012-present). Previously, Mr. von Kuhn was a managing director of Crosby Group (private wealth management company, 2007-2013), a member of the management committee and senior executive in the Wealth Management Group of AmSouth Bank (2001-2006), and head of the U.S. private bank at Citigroup (2000-2001).
Elizabeth Paige Baumann (1968)
Year of Election or Appointment: 2012 Anti-Money Laundering (AML) Officer
	Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer of FMR LLC (2012-present) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as Vice President and Deputy Anti-Money Laundering Officer (2007-2012).
Marc Bryant (1966)
Year of Election or Appointment: 2013 Assistant Secretary
	Mr. Bryant also serves as an officer of other funds. He is Senior Vice President and Deputy General Counsel of FMR LLC. Previously, Mr. Bryant served as Secretary and Chief Legal Officer of Fidelity Rutland Square Trust II (2010-2014). Prior to joining Fidelity Investments, Mr. Bryant served as a Senior Vice President and the Head of Global Retail Legal for AllianceBernstein L.P. (2006-2010), and as the General Counsel for ProFund Advisors LLC (2001-2006).
Jonathan Davis (1968)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (2003-2010).
Adrien E. Deberghes (1967)
Year of Election or Appointment: 2010 Assistant Treasurer
	Mr. Deberghes also serves as an officer of other funds. He is an employee of Fidelity Investments (2008-present). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005).
Stephanie J. Dorsey (1969)
Year of Election or Appointment: 2013 President and Treasurer
	Ms. Dorsey also serves as an officer of other funds. She is an employee of Fidelity Investments (2008-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Dorsey served as Treasurer (2004-2008) of the JPMorgan Mutual Funds and Vice President (2004-2008) of JPMorgan Chase Bank.
Howard J. Galligan III (1966)
Year of Election or Appointment: 2014 Chief Financial Officer
	Mr. Galligan also serves as Chief Financial Officer of other funds. Mr. Galligan serves as President of Fidelity Pricing and Cash Management Services (FPCMS) (2014-present) and as a Director of Strategic Advisers, Inc. (2008-present). Previously, Mr. Galligan served as Chief Administrative Officer of Asset Management (2011-2014) and Chief Operating Officer and Senior Vice President of Investment Support for Strategic Advisers, Inc. (2003-2011).
Scott C. Goebel (1968)
Year of Election or Appointment: 2008 Secretary and Chief Legal Officer (CLO)
	Mr. Goebel serves as Secretary and CLO of other funds. Mr. Goebel also serves as Secretary of Fidelity SelectCo, LLC (2013-present), Fidelity Investments Money Management, Inc. (FIMM) (2010-present) and Fidelity Research and Analysis Company (FRAC) (2010-present); General Counsel, Secretary, and Senior Vice President of FMR (2008-present) and FMR Co., Inc. (2008-present); Chief Legal Officer of Fidelity Management & Research (Hong Kong) Limited (2008-present); and Assistant Secretary of Fidelity Management & Research (Japan) Limited (2008-present) and Fidelity Management & Research (U.K.) Inc. (2008-present). Previously, Mr. Goebel served as Secretary and CLO of other Fidelity funds (2008-2013), Assistant Secretary of FIMM (2008-2010), FRAC (2008-2010), and certain funds (2007-2008); and as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (2005-2007). Mr. Goebel has been employed by FMR LLC or an affiliate since 2001.
Chris Maher (1972)
Year of Election or Appointment: 2013 Assistant Treasurer
	Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of FMR's Program Management Group (2010-2013), and Vice President of Valuation Oversight (2008-2010).
Nancy D. Prior (1967)
Year of Election or Appointment: 2014 Vice President
	Ms. Prior also serves as Vice President of other funds. Ms. Prior serves as a Director of Fidelity Investments Money Management, Inc. (FIMM) (2014-present), President, Fixed Income (2014-present), Vice Chairman of Pyramis Global Advisors, LLC (2014-present), and is an employee of Fidelity Investments (2002-present). Previously, Ms. Prior served as Vice President of Fidelity's Money Market Funds (2012-2014), President, Money Market and Short Duration Bond of FMR (2013-2014), President, Money Market Group of FMR (2011-2014), Managing Director of Research (2009-2011), Senior Vice President and Deputy General Counsel (2007-2009), and Assistant Secretary of other Fidelity funds (2008-2009).
Kenneth B. Robins (1969)
Year of Election or Appointment: 2009 Assistant Treasurer
	Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (2013-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served in other fund officer roles.
Stephen Sadoski (1971)
Year of Election or Appointment: 2013 Deputy Treasurer
	Mr. Sadoski also serves as Deputy Treasurer of other funds. He is an employee of Fidelity Investments (2012-present) and has served in another fund officer role. Prior to joining Fidelity Investments, Mr. Sadoski served as an assistant chief accountant in the Division of Investment Management of the Securities and Exchange Commission (SEC) (2009-2012) and as a senior manager at Deloitte & Touche LLP (1997-2009).
Stacie M. Smith (1974)
Year of Election or Appointment: 2013 Assistant Treasurer
	Ms. Smith also serves as an officer of other funds. She is an employee of Fidelity Investments (2009-present) and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (1996-2009).
Renee Stagnone (1975)
Year of Election or Appointment: 2013 Deputy Treasurer
	Ms. Stagnone also serves as Deputy Treasurer of other funds. Ms. Stagnone is an employee of Fidelity Investments.
Michael H. Whitaker (1967)
Year of Election or Appointment: 2008 Chief Compliance Officer
	Mr. Whitaker also serves as Chief Compliance Officer of other funds. Mr. Whitaker also serves as Compliance Officer of FMR Co., Inc. (2014-present), FMR (2014-present), Fidelity Investments Money Management, Inc. (2014-present), and is an employee of Fidelity Investments (2007-present). Prior to joining Fidelity Investments, Mr. Whitaker worked at MFS Investment Management where he served as Senior Vice President and Chief Compliance Officer (2004-2006), and Assistant General Counsel.
Joseph F. Zambello (1957)
Year of Election or Appointment: 2011 Deputy Treasurer
	Mr. Zambello also serves as Deputy Treasurer of other funds. Mr. Zambello is an employee of Fidelity Investments. Previously, Mr. Zambello served as Vice President of FMR's Program Management Group (2009-2011) and Vice President of the Transfer Agent Oversight Group (2005-2009).

Annual Report

Distributions (Unaudited)

The fund hereby designates as a capital gain dividend with respect to the taxable year ended January 31, 2015, $23,310, or, if subsequently determined to be different, the net capital gain of such year.

During fiscal year ended 2015, 100% of the fund's income dividends was free from federal income tax, and 0% of the fund's income dividends was subject to the federal alternative minimum tax.

The fund will notify shareholders in January 2016 of amounts for use in preparing 2015 income tax returns.

Annual Report

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity New York AMT Tax-Free Money Market Fund

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should benefit the fund's shareholders.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

Fidelity New York AMT Tax-Free Money Market Fund

nys7952480

The Board noted that the fund's hypothetical net management fee rate ranked below the median of its Total Mapped Group and below the median of its ASPG for 2013.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered.

Total Expense Ratio. In its review of each class's total expense ratio, the Board considered the fund's hypothetical net management fee as well as the fund's gross management fee. The Board also considered other "fund-level" expenses, such as pricing and bookkeeping fees and custodial, legal, and audit fees. The Board also considered other "class-level" expenses, such as transfer agent fees and fund-paid 12b-1 fees. The Board also noted that Fidelity may agree to waive fees and expenses from time to time, and the extent to which, if any, it has done so for the fund. As part of its review, the Board also considered the current and historical total expense ratios of each class of the fund compared to competitive fund median expenses. Each class of the fund is compared to those funds and classes in the Total Mapped Group (used by the Board for management fee comparisons) that have a similar sales load structure.

The Board noted that the total expense ratio of each class ranked below its competitive median for 2013.

The Board considered that current contractual arrangements for the fund oblige FMR to pay all "class-level" expenses of each class of the fund to the extent necessary to limit total expenses, with certain exceptions, as follows: retail class: 0.35%; Institutional Class: 0.20%; and Service Class: 0.45%. The contractual arrangements for the retail class may not be increased without the approval of the Board and the shareholders of that class.

Annual Report

The Board considered that Fidelity has been voluntarily waiving part or all of the 12b-1 fees, transfer agent fees, and/or management fees to maintain a minimum yield, and also noted that Fidelity retains the ability to be repaid in certain circumstances.

Based on its review of total expense ratios and fees charged to other Fidelity clients, the Board concluded that the total expense ratio of each class of the fund was reasonable in light of the services that the fund and its shareholders receive and the other factors considered.

Annual Report

Board Approval of Investment Advisory Contracts and
Management Fees - continued

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Annual Report

Investment Adviser

Fidelity Management & Research
Company

Boston, MA

Investment Sub-Advisers

Fidelity Investments
Money Management, Inc.

Fidelity Management and Research
(U.K.) Inc.

Fidelity Management and Research
(Hong Kong) Limited

Fidelity Management and Research
(Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Citibank, N.A.

New York, NY

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

Citibank, N.A.

New York, NY

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions
and Account Assistance 1-800-544-6666

Product Information 1-800-544-6666

Retirement Accounts 1-800-544-4774 (8 a.m. - 9 p.m.)

TDD Service 1-800-544-0118
for the deaf and hearing impaired
(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service
Telephone (FAST^®) nys7952482
1-800-544-5555

Automated line for quickest service

(Fidelity Investment logo)(registered trademark)
Corporate Headquarters
245 Summer St., Boston, MA 02210
www.fidelity.com

NYS-UANN-0315
1.789256.113

Item 2. Code of Ethics

As of the end of the period, January 31, 2015, Fidelity New York Municipal Trust II (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

Item 3. Audit Committee Financial Expert

The Board of Trustees of the trust has determined that James H. Keyes is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Keyes is independent for purposes of Item 3 of Form N-CSR.

Item 4. Principal Accountant Fees and Services

Fees and Services

The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, "Deloitte Entities") in each of the last two fiscal years for services rendered to Fidelity New York AMT Tax-Free Money Market Fund and Fidelity New York Municipal Money Market Fund (the "Funds"):

Services Billed by Deloitte Entities

January 31, 2015 Fees^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity New York AMT Tax-Free Money Market Fund	$24,000	$-	$5,000	$800
Fidelity New York Municipal Money Market Fund	$25,000	$-	$5,000	$1,800

January 31, 2014 Fees^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity New York AMT Tax-Free Money Market Fund	$24,000	$-	$4,700	$700
Fidelity New York Municipal Money Market Fund	$24,000	$-	$4,700	$1,600

^AAmounts may reflect rounding.

The following table presents fees billed by Deloitte Entities that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Funds and that are rendered on behalf of Fidelity Management & Research Company ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Funds ("Fund Service Providers"):

Services Billed by Deloitte Entities

	January 31, 2015^A	January 31, 2014^A
Audit-Related Fees	$-	$765,000
Tax Fees	$-	$-
All Other Fees	$650,000	$795,000

^A Amounts may reflect rounding.

"Audit-Related Fees" represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.

"Tax Fees" represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.

"All Other Fees" represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.

Assurance services must be performed by an independent public accountant.

* * *

The aggregate non-audit fees billed by Deloitte Entities for services rendered to the Funds, FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Funds are as follows:

Billed By	January 31, 2015^A	January 31, 2014^A
Deloitte Entities	$1,815,000	$1,695,000

^A Amounts may reflect rounding.

The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities in its audit of the Funds, taking into account representations from Deloitte Entities, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Funds and their related entities and FMR's review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund Service Providers.

Audit Committee Pre-Approval Policies and Procedures

The trust's Audit Committee must pre-approve all audit and non-audit services provided by a fund's independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund ("Covered Service") are subject to approval by the Audit Committee before such service is provided.

All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair's absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.

Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee on a periodic basis.

Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X ("De Minimis Exception")

There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Funds' last two fiscal years relating to services provided to (i) the Funds or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Funds.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Investments

(a) Not applicable.

(b) Not applicable

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9. Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the trust's Board of Trustees.

Item 11. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust's internal control over financial reporting.

Item 12. Exhibits

(a)	(1)	Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.
(a)	(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)	(3)	Not applicable.
(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

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.

Fidelity New York Municipal Trust II

By:	/s/Stephanie J. Dorsey
	Stephanie J. Dorsey
	President and Treasurer

Date:	March 30, 2015

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/Stephanie J. Dorsey
	Stephanie J. Dorsey
	President and Treasurer

Date:	March 30, 2015

By:	/s/Howard J. Galligan III
	Howard J. Galligan III
	Chief Financial Officer

Date:	March 30, 2015

Fidelity New York Municipal Trust Ii N-CSRCertified annual shareholder report (management investment company)

Contents

Shareholder Expense Example

Investment Changes/Performance (Unaudited)

Investments January 31, 2015

Financial Statements

Statement of Assets and Liabilities

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Distributions (Unaudited)

Board Approval of Investment Advisory Contracts and Management Fees

Contents

Shareholder Expense Example

Investment Changes/Performance (Unaudited)

Investments January 31, 2015

Financial Statements

Statement of Assets and Liabilities

Statement of Assets and Liabilities - continued

Statement of Operations

Statement of Changes in Net Assets

Financial Highlights - New York AMT Tax-Free Money Market

Financial Highlights - Institutional Class

Financial Highlights - Service Class

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Distributions (Unaudited)

Board Approval of Investment Advisory Contracts and Management Fees