UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-6295
 
Nuveen New York Select Quality Municipal Fund, Inc.
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:             9/30          
 
Date of reporting period:          12/31/10         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 

 
Item 1. Schedule of Investments
 
 

           
   
Portfolio of Investments (Unaudited)  
     
   
   Nuveen New York Select Quality Municipal Fund, Inc. (NVN)  
     
   
December 31, 2010  
     
Principal  
   
Optional Call  
   
Amount (000)  
 
Description (1)  
Provisions (2)  
Ratings (3)  
Value  
   
Education and Civic Organizations – 23.4% (15.2% of Total Investments)  
     
$   2,500  
 
Dormitory Authority of the State of New York, General Revenue Bonds, New York University,  
No Opt. Call  
AA–  
$   2,648,925  
   
Series 2001-1, 5.500%, 7/01/40 – AMBAC Insured  
     
1,235  
 
Dormitory Authority of the State of New York, Housing Revenue Bonds, Fashion Institute of  
No Opt. Call  
BBB  
1,125,616  
   
Technology, Series 2007, 5.250%, 7/01/34 – FGIC Insured  
     
695  
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Fordham University,  
7/12 at 100.00  
A2  
712,834  
   
Series 2002, 5.000%, 7/01/18 – FGIC Insured  
     
   
Dormitory Authority of the State of New York, Insured Revenue Bonds, New York University,  
     
   
Series 2001-2:  
     
1,350  
 
5.500%, 7/01/18 – AMBAC Insured  
7/11 at 100.00  
AA–  
1,374,273  
800  
 
5.500%, 7/01/20 – AMBAC Insured  
7/11 at 100.00  
AA–  
816,120  
600  
 
5.500%, 7/01/21 – AMBAC Insured  
7/11 at 100.00  
AA–  
612,090  
2,125  
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Yeshiva University,  
7/11 at 100.00  
Aa3  
2,140,088  
   
Series 2001, 5.000%, 7/01/19 – AMBAC Insured  
     
2,000  
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory  
No Opt. Call  
Aa2  
2,145,320  
   
Facilities, Series 2003B, 5.250%, 7/01/32 (Mandatory put 7/01/13) – SYNCORA GTY Insured  
     
1,835  
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory  
7/15 at 100.00  
Aa2  
1,869,755  
   
Facilities, Series 2004A, 5.000%, 7/01/29 – NPFG Insured  
     
2,790  
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory  
7/16 at 100.00  
Aa2  
2,796,640  
   
Facilities, Series 2006A, 5.000%, 7/01/31 – NPFG Insured  
     
6,215  
 
Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory  
7/19 at 100.00  
Aa2  
6,210,339  
   
Facilities, Series 2009A, 5.000%, 7/01/39  
     
735  
 
Dormitory Authority of the State of New York, Revenue Bonds, Barnard College, Series 2007A,  
7/17 at 100.00  
BBB  
713,986  
   
5.000%, 7/01/37 – FGIC Insured  
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Canisius College, Series 2000:  
     
1,000  
 
5.100%, 7/01/20 – NPFG Insured  
7/11 at 101.00  
Baa1  
1,009,770  
2,875  
 
5.250%, 7/01/30 – NPFG Insured  
7/11 at 101.00  
Baa1  
2,694,968  
995  
 
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 2007,  
7/17 at 100.00  
AA–  
999,657  
   
5.000%, 7/01/32 – AMBAC Insured  
     
   
Dormitory Authority of the State of New York, Revenue Bonds, New York University,  
     
   
Series 2009A:  
     
3,300  
 
5.250%, 7/01/34  
7/19 at 100.00  
AA–  
3,364,581  
3,890  
 
5.000%, 7/01/39  
7/19 at 100.00  
AA–  
3,887,083  
3,750  
 
Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series  
7/19 at 100.00  
AA–  
3,747,188  
   
2009B, 5.000%, 7/01/39  
     
1,600  
 
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell  
7/20 at 100.00  
Aa1  
1,615,056  
   
University, Series 2008C, 5.000%, 7/01/37  
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Rochester Institute of  
     
   
Technology, Series 2006A:  
     
775  
 
5.250%, 7/01/20 – AMBAC Insured  
No Opt. Call  
A1  
849,338  
620  
 
5.250%, 7/01/21 – AMBAC Insured  
No Opt. Call  
A1  
672,626  
3,545  
 
Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Colgate  
No Opt. Call  
AA+  
3,574,991  
   
University, Tender Option Bond Trust 3127, 12.656%, 1/01/14 – AMBAC Insured (IF)  
     
1,000  
 
Nassau County Industrial Development Agency, New York, Revenue Refunding Bonds, Hofstra  
1/11 at 100.00  
A
1,000,110  
   
University, Series 1998, 5.000%, 7/01/23 – NPFG Insured  
     
7,250  
 
New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Horace  
1/11 at 100.00  
Baa1  
7,137,915  
   
Mann School, Series 1998, 5.000%, 7/01/28 – NPFG Insured  
     
800  
 
New York City Industrial Development Agency, New York, Payment in Lieu of Taxes Revenue Bonds,  
1/19 at 100.00  
AA+  
846,672  
   
Queens Baseball Stadium Project, Series 2009, 6.375%, 1/01/39 – AGC Insured  
     
   
New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball  
     
   
Stadium Project, Series 2006:  
     
2,000  
 
5.000%, 1/01/36 – AMBAC Insured  
1/17 at 100.00  
BB+  
1,673,740  
3,200  
 
5.000%, 1/01/46 – AMBAC Insured  
1/17 at 100.00  
BB+  
2,594,080  
1,905  
 
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project  
3/19 at 100.00  
AA+  
2,098,548  
   
PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured  
     
   
New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium  
     
   
Project, Series 2006:  
     
1,195  
 
5.000%, 3/01/31 – FGIC Insured  
9/16 at 100.00  
BBB–  
1,139,444  
9,735  
 
5.000%, 3/01/36 – NPFG Insured  
9/16 at 100.00  
Baa1  
8,883,772  
5,830  
 
4.500%, 3/01/39 – FGIC Insured  
9/16 at 100.00  
BBB–  
4,827,357  
2,000  
 
New York City Trust for Cultural Resources, New York, Revenue Bonds, American Museum of  
7/14 at 100.00  
AA  
1,987,160  
   
Natural History, Series 2004A, 5.000%, 7/01/36 – NPFG Insured  
     
1,100  
 
Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute,  
9/20 at 100.00  
A
1,046,078  
   
Series 2010A, 5.125%, 9/01/40  
     
81,245  
 
Total Education and Civic Organizations  
   
78,816,120  
   
Health Care – 15.6% (10.1% of Total Investments)  
     
810  
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds,  
8/19 at 100.00  
AAA  
872,807  
   
Hospital for Special Surgery, Series 2009, 6.250%, 8/15/34  
     
5,730  
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds,  
2/11 at 100.50  
N/R  
5,733,266  
   
Montefiore Medical Center, Series 1999, 5.500%, 8/01/38 – AMBAC Insured  
     
2,305  
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Hudson  
8/17 at 100.00  
AA+  
2,358,315  
   
Valley Hospital Center, Series 2007, 5.000%, 8/15/27 – AGM Insured  
     
2,655  
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore  
2/15 at 100.00  
BBB  
2,601,396  
   
Hospital, Series 2004, 5.000%, 8/01/29 – FGIC Insured  
     
1,000  
 
Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical  
2/15 at 100.00  
BBB  
1,021,190  
   
Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured  
     
6,430  
 
Dormitory Authority of the State of New York, Hospital Revenue Bonds, Catholic Health Services  
1/11 at 100.50  
A3  
6,440,674  
   
of Long Island Obligated Group – St. Francis Hospital, Series 1999A, 5.500%, 7/01/24 –  
     
   
NPFG Insured  
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Health Quest System Inc.,  
     
   
Series 2007B:  
     
955  
 
5.250%, 7/01/27 – AGC Insured  
7/17 at 100.00  
AA+  
979,018  
825  
 
5.125%, 7/01/37 – AGC Insured  
7/17 at 100.00  
AA+  
802,857  
   
Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer  
     
   
Center, Series 2003-1:  
     
2,500  
 
5.000%, 7/01/21 – NPFG Insured  
7/13 at 100.00  
AA  
2,580,125  
3,210  
 
5.000%, 7/01/22 – NPFG Insured  
7/13 at 100.00  
AA  
3,317,310  
2,740  
 
Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian  
8/14 at 100.00  
AA+  
2,954,131  
   
Hospital, Series 2004A, 5.250%, 8/15/15 – AGM Insured  
     
2,120  
 
Dormitory Authority of the State of New York, Revenue Bonds, The New York and Presbyterian  
8/14 at 100.00  
AA+  
2,067,551  
   
Hospital Project, Series 2007, 5.000%, 8/15/36 – AGM Insured  
     
12,020  
 
Dormitory Authority of the State of New York, Revenue Bonds, Winthrop South Nassau University  
7/11 at 101.00  
N/R  
11,593,891  
   
Health System Obligated Group, Series 2001A, 5.250%, 7/01/26 – AMBAC Insured  
     
2,025  
 
Dormitory Authority of the State of New York, Revenue Bonds, Winthrop South Nassau University  
7/11 at 101.00  
Baa1  
1,897,061  
   
Health System Obligated Group, Series 2001B, 5.250%, 7/01/31 – AMBAC Insured  
     
   
New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds,  
     
   
Series 2003A:  
     
2,800  
 
5.250%, 2/15/21 – AMBAC Insured  
2/13 at 100.00  
Aa3  
2,874,536  
3,065  
 
5.250%, 2/15/22 – AMBAC Insured  
2/13 at 100.00  
Aa3  
3,149,931  
1,320  
 
Westchester County Health Care Corporation, New York, Senior Lien Revenue Bonds, Series  
11/20 at 100.00  
A3  
1,301,903  
   
2010-C2, 6.125%, 11/01/37  
     
52,510  
 
Total Health Care  
   
52,545,962  
   
Housing/Multifamily – 4.1% (2.7% of Total Investments)  
     
   
New York City Housing Development Corporation, New York, Capital Fund Program Revenue Bonds,  
     
   
Series 2005A:  
     
1,470  
 
5.000%, 7/01/14 – FGIC Insured  
No Opt. Call  
AA+  
1,608,709  
1,470  
 
5.000%, 7/01/16 – FGIC Insured  
7/15 at 100.00  
AA+  
1,611,708  
5,445  
 
5.000%, 7/01/25 – NPFG Insured (UB)  
7/15 at 100.00  
AA+  
5,530,432  
1,458  
 
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,  
1/11 at 105.00  
N/R  
1,534,076  
   
Pass-Through Certificates, Series 1991C, 6.500%, 2/20/19 – AMBAC Insured  
     
540  
 
New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,  
1/17 at 100.00  
AAA  
483,430  
   
Seaview Towers, Series 2006A, 4.750%, 7/15/39 – AMBAC Insured (Alternative Minimum Tax)  
     
3,000  
 
New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Series 2007B,  
11/17 at 100.00  
Aa2  
2,827,980  
   
5.300%, 11/01/37 (Alternative Minimum Tax)  
     
   
New York State Housing Finance Agency, Mortgage Revenue Refunding Bonds, Housing Project,  
     
   
Series 1996A:  
     
55  
 
6.100%, 11/01/15 – AGM Insured  
5/11 at 100.00  
AA+  
55,226  
200  
 
6.125%, 11/01/20 – AGM Insured  
5/11 at 100.00  
AA+  
200,180  
13,638  
 
Total Housing/Multifamily  
   
13,851,741  
   
Long-Term Care – 1.8% (1.2% of Total Investments)  
     
   
Dormitory Authority of the State of New York, FHA-Insured Nursing Home Mortgage Revenue Bonds,  
     
   
Norwegian Christian Home and Health Center, Series 2001:  
     
5,240  
 
5.200%, 8/01/36 – NPFG Insured  
8/11 at 101.00  
Baa1  
5,109,524  
1,000  
 
6.100%, 8/01/41 – NPFG Insured  
8/11 at 105.00  
Baa1  
1,035,730  
6,240  
 
Total Long-Term Care  
   
6,145,254  
   
Tax Obligation/General – 8.4% (5.5% of Total Investments)  
     
1,500  
 
Erie County, New York, General Obligation Bonds, Series 2003A, 5.250%, 3/15/16 – NPFG Insured  
3/13 at 100.00  
A2  
1,595,250  
745  
 
Erie County, New York, General Obligation Bonds, Series 2004B, 5.250%, 4/01/13 – NPFG Insured  
No Opt. Call  
A2  
797,701  
2,000  
 
Erie County, New York, General Obligation Bonds, Series 2005A, 5.000%, 12/01/18 –  
12/15 at 100.00  
A2  
2,123,320  
   
NPFG Insured  
     
600  
 
New York City, New York, General Obligation Bonds, Fiscal 2009 Series E, 5.000%, 8/01/28  
8/19 at 100.00  
AA  
611,508  
   
New York City, New York, General Obligation Bonds, Fiscal Series 1998H:  
     
85  
 
5.125%, 8/01/25 – NPFG Insured  
2/11 at 100.00  
AA  
85,216  
70  
 
5.375%, 8/01/27 – NPFG Insured  
2/11 at 100.00  
AA  
70,164  
2,900  
 
New York City, New York, General Obligation Bonds, Fiscal Series 2005J, 5.000%, 3/01/19 –  
3/15 at 100.00  
AA  
3,129,477  
   
FGIC Insured  
     
   
New York City, New York, General Obligation Bonds:  
     
3,250  
 
5.000%, 11/01/19 – AGM Insured (UB)  
11/14 at 100.00  
AA+  
3,470,578  
1,650  
 
5.000%, 11/01/20 – AGM Insured (UB)  
11/14 at 100.00  
AA+  
1,748,010  
   
Rensselaer County, New York, General Obligation Bonds, Series 1991:  
     
960  
 
6.700%, 2/15/16 – AMBAC Insured  
No Opt. Call  
AA–  
1,176,451  
960  
 
6.700%, 2/15/17 – AMBAC Insured  
No Opt. Call  
AA–  
1,181,347  
960  
 
6.700%, 2/15/18 – AMBAC Insured  
No Opt. Call  
AA–  
1,190,602  
960  
 
6.700%, 2/15/19 – AMBAC Insured  
No Opt. Call  
AA–  
1,202,746  
960  
 
6.700%, 2/15/20 – AMBAC Insured  
No Opt. Call  
AA–  
1,200,048  
747  
 
6.700%, 2/15/21 – AMBAC Insured  
No Opt. Call  
AA–  
938,695  
   
Rochester, New York, General Obligation Bonds, Series 1999:  
     
735  
 
5.250%, 10/01/20 – NPFG Insured  
No Opt. Call  
Aa3  
820,289  
735  
 
5.250%, 10/01/21 – NPFG Insured  
No Opt. Call  
Aa3  
814,387  
730  
 
5.250%, 10/01/22 – NPFG Insured  
No Opt. Call  
Aa3  
804,029  
730  
 
5.250%, 10/01/23 – NPFG Insured  
No Opt. Call  
Aa3  
797,846  
730  
 
5.250%, 10/01/24 – NPFG Insured  
No Opt. Call  
Aa3  
793,218  
730  
 
5.250%, 10/01/25 – NPFG Insured  
No Opt. Call  
Aa3  
787,276  
725  
 
5.250%, 10/01/26 – NPFG Insured  
No Opt. Call  
Aa3  
776,917  
2,190  
 
Yonkers, New York, General Obligation Bonds, Series 2005B, 5.000%, 8/01/19 – NPFG Insured  
8/15 at 100.00  
A2  
2,270,220  
25,652  
 
Total Tax Obligation/General  
   
28,385,295  
   
Tax Obligation/Limited – 52.1% (33.8% of Total Investments)  
     
7,145  
 
Dormitory Authority of the State of New York, Insured Revenue Bonds, Special Act School  
1/11 at 100.50  
Baa1  
7,203,518  
   
District Program, Series 1999, 5.750%, 7/01/19 – NPFG Insured  
     
3,610  
 
Dormitory Authority of the State of New York, Revenue Bonds, Department of Health, Series  
7/14 at 100.00  
AA–  
3,791,186  
   
2004-2, 5.000%, 7/01/20 – FGIC Insured  
     
   
Dormitory Authority of the State of New York, Revenue Bonds, Mental Health Services Facilities  
     
   
Improvements, Series 2005D-1:  
     
670  
 
5.000%, 2/15/15 – FGIC Insured  
No Opt. Call  
AA–  
743,445  
1,715  
 
5.000%, 8/15/23 – FGIC Insured  
2/15 at 100.00  
AA–  
1,758,321  
7,925  
 
Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing  
10/12 at 100.00  
A+  
8,166,316  
   
Program, Series 2002D, 5.250%, 10/01/23 – NPFG Insured  
     
1,090  
 
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series  
3/15 at 100.00  
AAA  
1,144,010  
   
2005F, 5.000%, 3/15/21 – AGM Insured  
     
2,390  
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo  
5/18 at 100.00  
AA+  
2,594,106  
   
City School District Project, Series 2008A, 5.750%, 5/01/28 – AGM Insured (UB)  
     
3,300  
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo  
No Opt. Call  
AA–  
3,278,946  
   
City School District Project, Series 2009A, 5.000%, 5/01/31  
     
   
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo  
     
   
City School District, Series 2003:  
     
1,230  
 
5.750%, 5/01/20 – AGM Insured  
5/12 at 100.00  
AA+  
1,287,072  
1,225  
 
5.750%, 5/01/22 – AGM Insured  
5/12 at 100.00  
AA+  
1,277,173  
1,700  
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo  
5/14 at 100.00  
AA+  
1,745,594  
   
City School District, Series 2004, 5.750%, 5/01/26 – AGM Insured (UB)  
     
7,545  
 
Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo  
5/17 at 100.00  
AA+  
8,112,988  
   
City School District, Series 2007A, 5.750%, 5/01/28 – AGM Insured (UB)  
     
14,405  
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%,  
2/17 at 100.00  
A
13,029,467  
   
2/15/47 – FGIC Insured  
     
7,500  
 
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2002A,  
11/12 at 100.00  
AA+  
7,659,075  
   
5.250%, 11/15/25 – AGM Insured  
     
4,600  
 
Metropolitan Transportation Authority, New York, State Service Contract Bonds, Series 2002B,  
7/12 at 100.00  
AA–  
4,859,578  
   
5.500%, 7/01/18 – NPFG Insured  
     
   
Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds,  
     
   
Series 2002A:  
     
2,000  
 
5.750%, 7/01/18 – AGM Insured (UB)  
No Opt. Call  
AA+  
2,338,540  
3,000  
 
5.500%, 1/01/19 – NPFG Insured  
7/12 at 100.00  
AA–  
3,164,910  
5,000  
 
5.500%, 1/01/20 – NPFG Insured  
7/12 at 100.00  
AA–  
5,270,650  
2,375  
 
5.000%, 7/01/25 – FGIC Insured  
7/12 at 100.00  
AA–  
2,378,396  
4,050  
 
5.000%, 7/01/30 – AMBAC Insured  
7/12 at 100.00  
AA–  
3,975,804  
   
Nassau County Interim Finance Authority, New York, Sales Tax Secured Revenue Bonds,  
     
   
Series 2003A:  
     
4,000  
 
5.000%, 11/15/18 – AMBAC Insured  
11/13 at 100.00  
AAA  
4,306,400  
1,560  
 
4.750%, 11/15/21 – AMBAC Insured  
11/13 at 100.00  
AAA  
1,614,725  
1,560  
 
4.750%, 11/15/22 – AMBAC Insured  
11/13 at 100.00  
AAA  
1,607,658  
   
New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local  
     
   
Government Assistance Corporation, Series 2004A:  
     
3,640  
 
5.000%, 10/15/25 – NPFG Insured (UB)  
10/14 at 100.00  
AAA  
3,759,101  
1,960  
 
5.000%, 10/15/26 – NPFG Insured (UB)  
10/14 at 100.00  
AAA  
2,008,882  
5,420  
 
5.000%, 10/15/29 – AMBAC Insured (UB)  
10/14 at 100.00  
AAA  
5,482,005  
1,500  
 
5.000%, 10/15/32 – AMBAC Insured (UB)  
10/14 at 100.00  
AAA  
1,504,245  
5,600  
 
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal  
1/17 at 100.00  
AA–  
5,671,176  
   
Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured  
     
3,160  
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal  
2/13 at 100.00  
AAA  
3,356,362  
   
Series 2003E, 5.250%, 2/01/22 – NPFG Insured  
     
2,000  
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal  
2/14 at 100.00  
AAA  
2,178,200  
   
Series 2004C, 5.000%, 2/01/19 – SYNCORA GTY Insured  
     
3,800  
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal  
5/17 at 100.00  
AAA  
3,885,614  
   
Series 2007B, 5.000%, 11/01/30  
     
3,500  
 
New York City Transitional Finance Authority, New York, Future Tax Secured Refunding Bonds,  
2/13 at 100.00  
AAA  
3,692,395  
   
Fiscal Series 2003D, 5.000%, 2/01/22 – NPFG Insured  
     
   
New York Convention Center Development Corporation, Hotel Fee Revenue Bonds, Tender Option  
     
   
Bonds Trust 3095:  
     
835  
 
13.179%, 11/15/30 – AMBAC Insured (IF)  
11/15 at 100.00  
AA+  
875,431  
3,955  
 
13.165%, 11/15/44 – AMBAC Insured (IF)  
11/15 at 100.00  
AA+  
3,944,677  
   
New York State Municipal Bond Bank Agency, Buffalo, Special Program Revenue Bonds,  
     
   
Series 2001A:  
     
875  
 
5.125%, 5/15/19 – AMBAC Insured  
5/11 at 100.00  
A1  
884,713  
920  
 
5.125%, 5/15/20 – AMBAC Insured  
5/11 at 100.00  
A1  
929,688  
965  
 
5.250%, 5/15/21 – AMBAC Insured  
5/11 at 100.00  
A1  
978,549  
1,015  
 
5.250%, 5/15/22 – AMBAC Insured  
5/11 at 100.00  
A1  
1,026,490  
1,000  
 
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second Genera1 Series  
4/14 at 100.00  
AA  
1,060,050  
   
2004A, 5.000%, 4/01/22 – NPFG Insured  
     
   
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General,  
     
   
Series 2005B:  
     
8,455  
 
5.500%, 4/01/20 – AMBAC Insured  
No Opt. Call  
AA  
9,730,437  
1,500  
 
5.000%, 4/01/21 – AMBAC Insured  
10/15 at 100.00  
AA  
1,574,280  
1,000  
 
New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2004A,  
9/14 at 100.00  
AAA  
1,044,260  
   
5.000%, 3/15/24 – AMBAC Insured  
     
1,600  
 
New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2010A,  
9/20 at 100.00  
AAA  
1,646,384  
   
5.000%, 3/15/29  
     
   
New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and  
     
   
State Contingency Contract-Backed Bonds, Series 2003A-1:  
     
11,100  
 
5.250%, 6/01/20 – AMBAC Insured  
6/13 at 100.00  
AA–  
11,817,171  
1,000  
 
5.250%, 6/01/21 – AMBAC Insured  
6/13 at 100.00  
AA–  
1,037,790  
4,565  
 
5.250%, 6/01/22 – AMBAC Insured  
6/13 at 100.00  
AA–  
4,702,361  
500  
 
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series  
3/15 at 100.00  
AAA  
504,775  
   
2005B, 5.000%, 3/15/30 – AGM Insured  
     
4,000  
 
Puerto Rico Highway and Transportation Authority, Highway Revenue Refunding Bonds, Series  
No Opt. Call  
AA+  
4,418,200  
   
2002E, 5.500%, 7/01/18 – AGM Insured  
     
2,500  
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series  
2/20 at 100.00  
AA+  
2,388,475  
   
2010A, 5.000%, 8/01/40 – AGM Insured  
     
1,175  
 
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series  
8/20 at 100.00  
AA+  
1,140,079  
   
2010C, 5.125%, 8/01/42 – AGM Insured  
     
3,715  
 
Syracuse Industrial Development Authority, New York, PILOT Mortgage Revenue Bonds, Carousel  
1/17 at 100.00  
BBB–  
2,804,045  
   
Center Project, Series 2007A, 5.000%, 1/01/36 – SYNCORA GTY Insured (Alternative Minimum Tax)  
     
170,850  
 
Total Tax Obligation/Limited  
   
175,353,713  
   
Transportation – 11.0% (7.1% of Total Investments)  
     
   
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2005A:  
     
1,900  
 
4.750%, 11/15/27 – NPFG Insured  
11/15 at 100.00  
AA+  
1,847,237  
4,000  
 
4.750%, 11/15/30 – AMBAC Insured  
11/15 at 100.00  
A
3,833,400  
   
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,  
     
   
Series 2002A:  
     
6,000  
 
5.500%, 11/15/18 – AMBAC Insured  
11/12 at 100.00  
A
6,375,180  
2,000  
 
5.125%, 11/15/22 – FGIC Insured  
11/12 at 100.00  
A
2,033,880  
   
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,  
     
   
Series 2002E:  
     
1,335  
 
5.500%, 11/15/21 – NPFG Insured  
11/12 at 100.00  
A
1,423,818  
4,575  
 
5.000%, 11/15/25 – NPFG Insured  
11/12 at 100.00  
A
4,577,974  
955  
 
New York State Thruway Authority, General Revenue Bonds, Refunding Series 2007H, 5.000%,  
1/18 at 100.00  
A+  
979,076  
   
1/01/25 – FGIC Insured  
     
   
New York State Thruway Authority, General Revenue Bonds, Series 2005F:  
     
2,625  
 
5.000%, 1/01/20 – AMBAC Insured  
1/15 at 100.00  
A+  
2,726,168  
425  
 
5.000%, 1/01/30 – AMBAC Insured  
1/15 at 100.00  
A+  
424,741  
1,650  
 
New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/30 –  
7/15 at 100.00  
AA+  
1,672,209  
   
AGM Insured (UB)  
     
2,500  
 
Niagara Frontier Airport Authority, New York, Airport Revenue Bonds, Buffalo Niagara  
4/11 at 100.00  
Baa1  
2,411,375  
   
International Airport, Series 1999A, 5.625%, 4/01/29 – NPFG Insured (Alternative Minimum Tax)  
     
1,675  
 
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth  
6/15 at 101.00  
Aa2  
1,680,863  
   
Series 2005, 5.000%, 12/01/31 – SYNCORA GTY Insured  
     
1,170  
 
Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Forty  
8/17 at 100.00  
AA+  
1,160,546  
   
Eighth Series 2008, Trust 2920, 16.944%, 8/15/32 – AGM Insured (IF)  
     
   
Triborough Bridge and Tunnel Authority, New York, Subordinate Lien General Purpose Revenue  
     
   
Refunding Bonds, Series 2002E:  
     
1,570  
 
5.500%, 11/15/20 – NPFG Insured  
No Opt. Call  
Aa3  
1,814,229  
3,800  
 
5.250%, 11/15/22 – NPFG Insured  
11/12 at 100.00  
Aa3  
3,948,276  
36,180  
 
Total Transportation  
   
36,908,972  
   
U.S. Guaranteed – 12.7% (8.3% of Total Investments) (4)  
     
505  
 
Dormitory Authority of the State of New York, Suffolk County, Lease Revenue Bonds, Judicial  
4/11 at 104.42  
Baa1 (4)  
625,150  
   
Facilities, Series 1991A, 9.500%, 4/15/14 – FGIC Insured (ETM)  
     
   
Longwood Central School District, Suffolk County, New York, Series 2000:  
     
1,000  
 
5.750%, 6/15/19 (Pre-refunded 6/15/11) – FGIC Insured  
6/11 at 101.00  
A1 (4)  
1,032,870  
1,000  
 
5.750%, 6/15/20 (Pre-refunded 6/15/11) – FGIC Insured  
6/11 at 101.00  
A1 (4)  
1,032,870  
4,695  
 
Metropolitan Transportation Authority, New York, Commuter Facilities Revenue Bonds, Series  
7/11 at 100.00  
N/R (4)  
4,812,093  
   
1998A, 5.250%, 7/01/28 (Pre-refunded 7/01/11) – FGIC Insured  
     
11,000  
 
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 1998A,  
10/15 at 100.00  
AAA  
12,630,200  
   
4.750%, 4/01/28 (Pre-refunded 10/01/15) – FGIC Insured  
     
   
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 1999A:  
     
4,000  
 
5.000%, 4/01/17 (Pre-refunded 10/01/14) – AGM Insured  
10/14 at 100.00  
AAA  
4,554,880  
3,250  
 
5.000%, 4/01/29 (Pre-refunded 10/01/14) – AGM Insured  
10/14 at 100.00  
AAA  
3,700,840  
   
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal  
     
   
Series 2002B:  
     
2,820  
 
5.250%, 5/01/16 (Pre-refunded 11/01/11) – NPFG Insured  
11/11 at 101.00  
AAA  
2,962,382  
1,000  
 
5.250%, 5/01/17 (Pre-refunded 11/01/11) – NPFG Insured  
11/11 at 101.00  
Aaa  
1,050,490  
6,750  
 
New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal  
8/12 at 100.00  
AAA  
7,233,705  
   
Series 2003C, 5.250%, 8/01/21 (Pre-refunded 8/01/12) – AMBAC Insured  
     
3,000  
 
New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2002A, 5.250%,  
4/12 at 100.00  
AAA  
3,168,180  
   
4/01/19 (Pre-refunded 4/01/12) – AGM Insured  
     
39,020  
 
Total U.S. Guaranteed  
   
42,803,660  
   
Utilities – 13.5% (8.7% of Total Investments)  
     
900  
 
Guam Power Authority, Revenue Bonds, Series 2010A, 5.000%, 10/01/37 – AGM Insured  
10/20 at 100.00  
AA+  
830,178  
   
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2000A:  
     
4,000  
 
0.000%, 6/01/24 – AGM Insured  
No Opt. Call  
AA+  
2,235,480  
4,000  
 
0.000%, 6/01/25 – AGM Insured  
No Opt. Call  
AA+  
2,094,040  
15,000  
 
0.000%, 6/01/26 – AGM Insured  
No Opt. Call  
AA+  
7,351,200  
3,000  
 
0.000%, 6/01/27 – AGM Insured  
No Opt. Call  
AA+  
1,377,030  
4,500  
 
0.000%, 6/01/28 – AGM Insured  
No Opt. Call  
AA+  
1,926,765  
3,000  
 
0.000%, 6/01/29 – AGM Insured  
No Opt. Call  
AA+  
1,201,680  
3,000  
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2001A,  
9/11 at 100.00  
AA+  
2,996,430  
   
5.000%, 9/01/27 – AGM Insured  
     
   
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A:  
     
6,010  
 
5.000%, 12/01/23 – FGIC Insured  
6/16 at 100.00  
A–  
6,140,056  
7,735  
 
5.000%, 12/01/25 – FGIC Insured  
6/16 at 100.00  
A–  
7,815,057  
4,000  
 
5.000%, 12/01/26 – AGC Insured  
6/16 at 100.00  
AA+  
4,035,720  
750  
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B,  
6/16 at 100.00  
A–  
707,183  
   
5.000%, 12/01/35 – CIFG Insured  
     
6,000  
 
New York State Energy Research and Development Authority, Pollution Control Revenue Bonds,  
3/11 at 100.00  
Baa1  
5,818,080  
   
Rochester Gas and Electric Corporation, Series 1998A, 5.950%, 9/01/33 – NPFG Insured  
     
   
(Alternative Minimum Tax)  
     
650  
 
Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%,  
11/15 at 100.00  
Aa2  
694,025  
   
11/15/19 – FGIC Insured  
     
62,545  
 
Total Utilities  
   
45,222,924  
   
Water and Sewer – 9.8% (6.4% of Total Investments)  
     
3,000  
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue  
6/14 at 100.00  
AAA  
2,985,239  
   
Bonds, Fiscal Series 2004C, 5.000%, 6/15/35 – AMBAC Insured  
     
5,920  
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue  
6/15 at 100.00  
AAA  
6,047,279  
   
Bonds, Fiscal Series 2005C, 5.000%, 6/15/27 – NPFG Insured (UB)  
     
5,000  
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue  
6/19 at 100.00  
AA+  
5,179,449  
   
Bonds, Second Generation Resolution, Fiscal 2010 Series 2009BB, 5.000%, 6/15/27  
     
2,000  
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue  
6/17 at 100.00  
AA+  
1,986,879  
   
Bonds, Second Generation Resolution, Series 2007AA, 5.000%, 6/15/37  
     
3,455  
 
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue  
6/16 at 100.00  
AAA  
3,432,749  
   
Bonds, Series 2006B, 5.000%, 6/15/36 – NPFG Insured (UB)  
     
5,000  
 
New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue  
6/13 at 100.00  
AAA  
4,982,749  
   
Refunding Bonds, Fiscal Series 2003E, 5.000%, 6/15/34  
     
7,100  
 
Suffolk County Water Authority, New York, Waterworks Revenue Bonds, Series 2005C, 5.000%,  
6/15 at 100.00  
AAA  
7,239,088  
   
6/01/28 – NPFG Insured  
     
2,230  
 
Upper Mohawk Valley Regional Water Finance Authority, New York, Water System Revenue Bonds,  
No Opt. Call  
A1  
1,237,604  
   
Series 2000, 0.000%, 4/01/23 – AMBAC Insured  
     
33,705  
 
Total Water and Sewer  
   
33,091,036  
$ 521,585  
 
Total Long-Term Investments (cost $502,625,295) – 152.4% (99.0% of Total Investments)  
   
513,124,677  
   
Short-Term Investments – 1.5% (1.0% of Total Investments)  
     
   
Tax Obligation/Limited – 1.5% (1.0% of Total Investments)  
     
$ 4,950  
 
Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Variable Rate  
1/11 at 100.00  
A–1  
4,950,000  
   
Demand Revenue Obligations, Series 2008A, 0.360%, 11/01/31 – AGM Insured (5)  
     
   
Total Short-Term Investments (cost $4,950,000)  
   
4,950,000  
   
Total Investments (cost $507,575,295) – 153.9%  
   
518,074,677  
   
Floating Rate Obligations – (10.0)%  
   
(33,510,000)  
   
Variable Rate Demand Preferred Shares, at Liquidation Value – (48.9)% (6)  
   
(164,800,000)  
   
Other Assets Less Liabilities – 5.0%  
   
16,964,591  
   
Net Assets Applicable to Common Shares – 100%  
   
$ 336,729,268  
 
 
 
 
 

 

 
Fair Value Measurements
 
In determining the fair value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
 
 
Level 1 – Quoted prices in active markets for identical securities.
 
 
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
 
Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
 
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of December 31, 2010:
 
         
 
Level 1  
Level 2  
Level 3  
Total  
Investments:  
       
Municipal Bonds  
$ —  
$513,124,677  
$ —  
$513,124,677  
Short-Term Investments  
— 
4,950,000  
— 
4,950,000  
Total  
$ —  
$518,074,677  
$ —  
$518,074,677  
 
During the period ended December 31, 2010, the Fund recognized no significant transfers to/from Level 1, Level 2 or Level 3.
 
 
Income Tax Information
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
 
At December 31, 2010, the cost of investments was $473,828,154.
 
 
Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2010, were as follows:
 
   
Gross unrealized:  
 
  Appreciation  
$17,693,260  
  Depreciation  
(6,966,277)
Net unrealized appreciation (depreciation) of investments  
$10,726,983  
 
     
   
The Fund intends to invest at least 80% of its managed assets in municipal securities that are covered by  
   
insurance guaranteeing the timely payment of principal and interest.  
(1)  
 
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common  
   
shares unless otherwise noted.  
(2)  
 
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.  
   
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities  
   
may be subject to periodic principal paydowns.  
(3)  
 
Ratings: Using the highest of Standard & Poor’s Group ("Standard & Poor's"), Moody’s Investor Service, Inc.  
   
("Moody's") or Fitch, Inc. ("Fitch") rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB  
   
by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of  
   
these national rating agencies.  
(4)  
 
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,  
   
which ensure the timely payment of principal and interest. Such investments are normally considered to  
   
be equivalent to AAA rated securities.  
(5)  
 
Investment has a maturity of more than one year, but has variable rate and demand features which qualify  
   
it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This  
   
rate changes periodically based on market conditions or a specified market index.  
(6)  
 
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments is 31.8%.  
N/R  
 
Not rated.  
(ETM)  
 
Escrowed to maturity.  
(IF)  
 
Inverse floating rate investment.  
(UB)  
 
Underlying bond of an inverse floating rate trust reflected as a financing transaction.  
 
 
 
 
 

 
Item 2. Controls and Procedures.

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

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

 
 
 

 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)   Nuveen New York Select Quality Municipal Fund, Inc. 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date          March 1, 2011        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date          March 1, 2011        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date          March 1, 2011        
 

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