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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

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QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number: 811-21078

Registrant Name: PIMCO New York Municipal Income Fund II

Address of Principal Executive Offices: 1345 Avenue of the Americas New York, New York 10105

Name and Address of Agent for Service: Lawrence G. Altadonna – 1345 Avenue of the Americas New York, New York 10105

Registrant’s telephone number, including area code: 212-739-3371

Date of Fiscal Year End: May 31, 2008

Date of Reporting Period: August 31, 2007

Form N-Q is to be used by the registered management investment company, other than a small business investment company registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b 1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1 -5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments


PIMCO New York Municipal Income Fund II Schedule of Investments
August 31, 2007 (unaudited)
Principal              
Amount     Credit Rating        
(000)     (Moody's/S&P)     Value*  
 
NEW YORK MUNICIPAL BONDS & NOTES—89.4%          
    Buffalo Municipal Water Finance Auth., Water System Rev.,          
         Ser. B (Pre-refunded @ $100, 7/1/12) (FSA)(a),          
$250              5.00%, 7/1/27 Aaa/AAA     $265,128  
1,000              5.125%, 7/1/32 Aaa/AAA     1,065,990  
2,400   Erie Cnty. Industrial Dev. Agcy., Orchard Park Rev., 6.00%, 11/15/36 NR/NR     2,364,000  
    Erie Cnty. Tobacco Asset Securitization Corp. Rev.,          
10,000        6.50%, 7/15/32, (Pre-refunded @ $101, 7/15/10) (a) NR/AAA     10,845,900  
    Liberty Dev. Corp. Rev.,          
2,500        5.25%, 10/1/35 (g) Aa3/AA-     2,582,125  
1,700        5.50%, 10/1/37 Aa3/AA-     1,820,360  
    Metropolitan Transportation Auth. Rev.,          
1,850        5.00%, 11/15/30, Ser. A (FSA) Aaa/AAA     1,882,005  
10,000        5.25%, 11/15/31, Ser. E A2/A     10,264,100  
7,000        5.35%, 7/1/31, Ser. B A1/AAA     7,233,450  
4,130   Mortgage Agcy. Rev., 4.75%, 10/1/27, Ser. 128 (g) Aa1/NR     3,984,748  
4,000   New York City, GO, 5.00%, 3/1/33, Ser. I Aa3/AA     4,032,400  
    New York City Health & Hospital Corp. Rev., Ser. A,          
1,100        5.375%, 2/15/26 A1/A     1,111,858  
2,000        5.45%, 2/15/26 A1/A     2,037,000  
    New York City Industrial Dev. Agcy. Rev.,          
975        Eger Harbor, 4.95%, 11/20/32 (GNMA) NR/AA+     943,556  
1,415        Liberty Interactive Corp., 5.00%, 9/1/35 Baa3/BBB-     1,326,025  
1,220        Staten Island Univ. Hospital, 6.45%, 7/1/32 B2/NR     1,250,171  
1,500        United Jewish Appeal Fed., 5.00%, 7/1/27 Aa1/NR     1,531,170  
    New York City Municipal Water Finance Auth., Water & Sewer System Rev.,          
7,500        4.50%, 6/15/33, Ser. C (g) NR/NR     7,052,550  
3,055        4.75%, 6/15/25, Ser. D (MBIA-IBC) Aaa/AAA     3,067,189  
5,000        5.00%, 6/15/32, Ser. A (g) Aa2/AA+     5,051,000  
15,000        5.125%, 6/15/34, Ser. A (g) Aa2/AA+     15,288,150  
10,000   New York City Transitional Finance Auth. Rev., 5.00%, 11/1/27, Ser. B Aa1/AAA     10,208,700  
7,785   New York City Trust for Cultural Res. Rev., 5.00%, 2/1/34 (FGIC)(g) Aaa/AAA     7,929,801  
3,600   Port Auth. New York & New Jersey Rev., 5.00%, 4/15/32, Ser. 125 (FSA) Aaa/AAA     3,691,440  
7,500   State Dormitory Auth. Lease Rev., State Univ. Dormitory Facs.,          
         5.00%, 7/1/32, (Pre-refunded @ $100, 7/1/12) (a) Aa3/AA-     7,936,800  
    State Dormitory Auth. Rev.,          
2,600        Catholic Health of Long Island, 5.10%, 7/1/34 Baa1/BBB     2,461,784  
7,490        Court Facs., 5.50%, 5/15/31, Ser. A (AMBAC)(g) NR/NR     8,351,725  
2,000        Kaleida Health Hospital, 5.05%, 2/15/25 (FHA) NR/AAA     2,017,440  
5,300        Lenox Hill Hospital, 5.50%, 7/1/30 Ba2/NR     5,304,876  
         Long Island Univ. (Radian),          
1,320              5.25%, 9/1/28 Aa3/AA     1,310,034  
80              5.25%, 9/1/28, (Pre-refunded @ $102, 9/1/09) (a) Aa3/AA     83,891  
8,850        North General Hospital, 5.00%, 2/15/25 NR/AA-     8,929,473  
5,000        Rochester Hospital, 5.00%, 12/1/35 (Radian)(g) NR/NR     4,571,100  
1,500        Sloan-Kettering Center Memorial, 5.00%, 7/1/34, Ser. 1 Aa2/AA     1,504,395  
5,000        St. Barnabas Hospital, 5.00%, 2/1/31, Ser. A (AMBAC-FHA) Aaa/AAA     5,095,500  
8,600        State Personal Income Tax, 5.00%, 3/15/32, (Pre-refunded @ $100, 3/15/13) (a) Aa3/AAA     9,140,940  
1,250        Student Housing Corp., 5.125%, 7/1/34, (Pre-refunded @ $100, 7/1/14) (FGIC)(a) Aaa/AAA     1,350,200  
4,270        Teachers College, 5.00%, 7/1/32 (MBIA) Aaa/NR     4,350,233  
2,000        Yeshiva Univ., 5.125%, 7/1/34 (AMBAC) Aaa/NR     2,061,940  

PIMCO New York Municipal Income Fund II Schedule of Investments
August 31, 2007 (unaudited)
Principal              
Amount     Credit Rating        
(000)     (Moody's/S&P)     Value*  
$2,000   State Environmental Facs. Corp., State Clean Water & Drinking Rev.,          
         5.125%, 6/15/31 Aaa/AAA     $2,049,600  
6,100   State Urban Dev. Corp., Personal Income Tax Rev.,          
         5.00%, 3/15/33, Ser. C-1, (Pre-refunded @ $100, 3/15/13) (a) Aa3/AAA     6,483,690  
    Tobacco Settlement Asset Backed, Inc. Rev., Ser.1,          
25,000        5.00%, 6/1/34 NR/BBB     23,591,500  
25,000        5.75%, 7/15/32, (Pre-refunded @ $100, 7/15/12) (a) Aaa/AAA     27,236,500  
10,000        6.375%, 7/15/39, (Pre-refunded @ $101, 7/15/09) (a) Aaa/AAA     10,575,200  
    Triborough Bridge & Tunnel Auth. Rev. (FGIC-TCRS),          
710        5.00%, 1/1/32 Aaa/AAA     722,084  
3,990        5.00%, 1/1/32, (Pre-refunded @ $100, 1/1/12) (a) Aaa/AAA     4,208,293  
2,000   Warren & Washington Cntys. Industrial Dev. Agcy. Fac. Rev., GlensFalls Hospital,          
         5.00%, 12/1/35, Ser. A (FSA) Aaa/AAA     2,028,740  
750   Westchester Cnty. Industrial Dev. Agcy. Continuing Care Retirement Rev.,          
         Kendal on Hudson, 6.50%, 1/1/34 NR/NR     775,402  
 
    Total New York Municipal Bonds & Notes (cost—$242,436,512)       248,970,156  
 
OTHER MUNICIPAL BONDS & NOTES—6.6%          
    California—2.9%          
    Alameda Unified School Dist., Alameda Cnty., GO, Ser. A (FSA),          
3,500        zero coupon, 8/1/24 Aaa/AAA     1,543,990  
3,000        zero coupon, 8/1/25 Aaa/AAA     1,254,300  
3,130   Covina Valley Unified School Dist., GO, zero coupon, 6/1/25, Ser. B (FGIC) Aaa/AAA     1,319,326  
5,000   Tobacco Securitization Agcy. Rev., Los Angeles Cnty., zero coupon, 6/1/28 Baa3/NR     3,884,750  
            8,002,366  
 
    Colorado—0.0%          
210   Dawson Ridge Dist. No. 1, GO, zero coupon, 10/1/22, Ser. A Aaa/NR     103,496  
 
    Puerto Rico—3.7%          
5,675   Children's Trust Fund, Tobacco Settlement Rev., 5.625%, 5/15/43 Baa3/BBB     5,517,178  
1,500   Commonwealth Highway & Transportation Auth. Rev.,          
         5.25%, 7/1/38, Ser. D, (Pre-refunded @ $100, 7/1/12) (a) Baa3/AAA     1,603,800  
750   Electric Power Auth. Power Rev.,          
         5.125%, 7/1/29, Ser. NN, (Pre-refunded @ $100, 7/1/13) (a) A3/BBB+     802,238  
    Puerto Rico Sales Tax Financing Corp. Rev.,          
14,250        zero coupon, 8/1/54, Ser. A (AMBAC) Aaa/AAA     1,265,115  
12,900        zero coupon, 8/1/56, Ser. A A1/A+     943,506  
            10,131,837  
 
    Total Other Municipal Bonds & Notes (cost—$18,210,624)       18,237,699  
 
NEW YORK VARIABLE RATE NOTES (b)(c)(d)—2.7%          
5,595   Long Island Power Auth. Electric System Rev.,          
         9.22%, 12/1/26, Ser. 339 (MBIA-IBC) Aaa/NR     6,209,891  
1,300   State Urban Dev. Corp. Rev., 8.417%, 3/15/35 NR/AAA     1,389,440  
 
    Total New York Variable Rate Notes (cost—$6,759,180)       7,599,331  

PIMCO New York Municipal Income Fund II Schedule of Investments
August 31, 2007 (unaudited)
Principal              
Amount     Credit Rating        
(000)     (Moody's/S&P)     Value*  
 
OTHER VARIABLE RATE NOTES (d)—0.7%          
    Puerto Rico—0.7%          
$1,900   Public Finance Corp. Rev., 5.75%, 8/1/27, Ser. A (cost—$1,995,608) Ba1/BBB-     $2,010,979  
 
NEW YORK VARIABLE RATE DEMAND NOTES (d)(e)—0.3%          
915   New York City Transitional Finance Auth. Rev.,          
         3.93%, 9/4/07, Ser. 1 (cost—$915,000) VMIG1/A-1+     915,000  
 
U.S. TREASURY BILLS (f)—0.3%          
710   1.70%-4.77%, 9/13/07 (cost—$708,931)       708,931  
 
    Total Investments (cost—$271,025,855)—100.0%       $278,442,096  


Notes to Schedule of Investments:

* Portfolio securities and other financial instruments for which market quotations are readily available are stated at market value. Portfolio securities and other financial instruments for which market quotations are not readily available or if a development/event occurs that may significantly impact the value of a security are fair-valued, in good faith, pursuant to guidelines established by the Board of Trustees. The Fund’s investments are valued daily using prices supplied by an independent pricing service or dealer quotations, or are valued at the last sale price on the exchange that is the primary market for such securities, or the last quoted mean price for those securities for which the over-the-counter market is the primary market or for listed securities in which there were no sales. Independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Exchange traded options and futures are valued at the settlement price determined by the relevant exchange. Short-term investments maturing in 60 days or less are valued at amortized cost, if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term to maturity exceeded 60 days. The prices used by the Fund to value securities may differ from the value that would be realized if the securities were sold. The Fund’s net asset value is determined daily as of the close of regular trading (normally, 4:00 p.m. Eastern time) on the New York Stock Exchange ("NYSE") on each day the NYSE is open for business.
   
(a)

Pre-refunded bonds are collateralized by U.S. Government or other eligible securities which are held in escrow and used to pay principal and interest and retire the bonds at the earliest refunding date (payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate).

 
(b)

144A Security—Security exempt from registration, under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid.

 
(c)

Inverse Floater—The interest rate shown bears an inverse relationship to the interest rate on another security or the value of an index.

 
(d)

Variable Rate Notes—Instruments whose interest rates change on specified date (such as a coupon date or interest payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). The interest rate disclosed reflects the rate in effect on August 31, 2007.

 

(e)

Maturity date shown is date of next put.

 
(f)

All or partial amount segregated as collateral for futures contracts.

 
(g)

Residual Interest Bonds held in trust—Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction.

Glossary:

AMBAC—insured by American Municipal Bond Assurance Corp.
FGIC—insured by Financial Guaranty Insurance Co.
FHA—insured by Federal Housing Administration
FSA—insured by Financial Security Assurance, Inc.
GNMA—insured by Government National Mortgage Association
GO—General Obligation Bond
IBC—Insurance Bond Certificate
MBIA—insured by Municipal Bond Investors Assurance
NR—Not Rated
Radian—insured by Radian Guaranty, Inc.
TCRS—Temporary Custodian Receipts

Other Investments:

(1) Futures contracts outstanding at August 31, 2007:

      Market       Unrealized
      Value   Expiration   Appreciation
                          Type Contracts (000)   Date   (Depreciation)
Long: U.S. Treasury Notes 5 yr. Futures 137   $14,618     12/31/07   $61,008  
Short: U.S. Treasury Bond Futures (476 ) (53,104 )   12/19/07   (128,610 )
                $(67,602 )

Item 2. Controls and Procedures

(a) The registrant’s President and Chief Executive Officer and Principal Financial Officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-2(c) under the Act (17CFR270.30a-3(c)), as amended are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no significant changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d)) under the Act (17CFR270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits

          (a) Exhibit 99.302 Cert. – Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: PIMCO New York Municipal Income Fund II

By /s/ Brian S. Shlissel
President & Chief Executive Officer

Date: October 30, 2007

By /s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: October 30, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dated indicated.

By /s/ Brian S. Shlissel
President & Chief Executive Officer

Date: October 30, 2007

By /s/ Lawrence G. Altadonna
Treasurer, Principal Financial & Accounting Officer

Date: October 30, 2007