UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-5785
MFS INVESTMENT GRADE MUNICIPAL TRUST
(Exact name of registrant as specified in charter)
500 Boylston Street, Boston, Massachusetts 02116
(Address of principal executive offices) (Zip code)
Susan S. Newton
Massachusetts Financial Services Company
500 Boylston Street
Boston, Massachusetts 02116
(Name and address of agents for service)
Registrant’s telephone number, including area code: (617) 954-5000
Date of fiscal year end: November 30
Date of reporting period: February 28, 2009
| ITEM 1. | SCHEDULE OF INVESTMENTS. |
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – 154.5% |
||||||
| Airport and Port Revenue – 0.2% |
||||||
| New York, NY, City Industrial Development Authority Rev. (Terminal One Group Assn.), 5.5%, 2021 |
$ | 250,000 | $ | 223,790 | ||
| General Obligations - General Purpose – 4.6% |
||||||
| Chicago, IL (Emergency Telecommunications Systems), FGIC, 5.5%, 2023 |
$ | 1,000,000 | $ | 1,102,040 | ||
| Chicago, IL, “A”, AMBAC, 6.25%, 2014 |
1,480,000 | 1,708,157 | ||||
| Highlands Ranch, CO, Metropolitan District, FSA, 6.5%, 2011 |
650,000 | 723,821 | ||||
| Highlands Ranch, CO, Metropolitan District, ETM, FSA, 6.5%, 2011 (c) |
725,000 | 811,174 | ||||
| State of California, 5.75%, 2019 |
70,000 | 70,672 | ||||
| $ | 4,415,864 | |||||
| General Obligations - Improvement – 1.8% |
||||||
| St. Clair County, IL, Public Building Capital Appreciation, “B”, FGIC, 0%, 2013 |
$ | 2,000,000 | $ | 1,750,500 | ||
| General Obligations - Schools – 7.3% |
||||||
| Beverly Hills, CA, Unified School District (Election of 2008), 0%, 2031 |
$ | 230,000 | $ | 61,553 | ||
| Beverly Hills, CA, Unified School District (Election of 2008), 0%, 2032 |
235,000 | 58,494 | ||||
| Beverly Hills, CA, Unified School District (Election of 2008), 0%, 2033 |
470,000 | 109,717 | ||||
| Frenship, TX, Independent School District, FSA, 5%, 2033 |
1,000,000 | 974,090 | ||||
| Los Angeles, CA, Unified School District, “D”, 5%, 2034 |
140,000 | 133,300 | ||||
| Modesto, CA, High School District (Stanislaus County), “A”, FGIC, 0%, 2019 |
1,350,000 | 833,261 | ||||
| Pomona, CA, Unified School District, “A”, MBIA, 6.45%, 2022 |
1,000,000 | 1,062,430 | ||||
| San Lorenzo, CA, Unified School District, Alameda County, Election 2004, “B”, FGIC, 4.75%, 2037 |
640,000 | 562,330 | ||||
| St. Johns, MI, Public Schools, FGIC, 5.1%, 2025 |
1,000,000 | 1,079,320 | ||||
| West Contra Costa, CA, Unified School District, “B”, MBIA, 6%, 2024 |
250,000 | 272,940 | ||||
| Will County, IL, School District (Channahon), AMBAC, 8.5%, 2015 |
1,400,000 | 1,810,186 | ||||
| $ | 6,957,621 | |||||
| Healthcare Revenue - Hospitals – 29.2% |
||||||
| Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), “A”, 5.375%, 2040 |
$ | 405,000 | $ | 223,580 | ||
| Arizona Health Facilities Authority Rev. (Banner Health System), “D”, 5.5%, 2038 |
535,000 | 495,169 | ||||
| Birmingham, AL, Baptist Medical Center, Special Care Facilities Rev. (Baptist Health Systems, Inc.), “A”, 5%, 2030 |
485,000 | 294,041 | ||||
| Boone County, MO, Hospital Rev., (Boone Hospital Center), 5.375%, 2038 |
125,000 | 100,394 | ||||
| Boone County, MO, Hospital Rev., (Boone Hospital Center), 5.625%, 2038 |
120,000 | 100,288 | ||||
| Brunswick, GA, Hospital Authority Rev. (Glynn-Brunswick Memorial Hospital), 5.625%, 2034 |
165,000 | 144,434 | ||||
| California Health Facilities Financing Authority Rev. (Catholic Healthcare West), “I”, 4.95%, 2026 (a) |
200,000 | 201,476 | ||||
| California Statewide Communities Development Authority Rev. (Catholic Healthcare West) “K”, ASSD GTY, 5.5%, 2041 |
335,000 | 294,622 | ||||
| California Statewide Communities Development Authority Rev. (Children’s Hospital), 5%, 2047 |
575,000 | 345,776 | ||||
| California Statewide Communities Development Authority Rev. (Enloe Medical Center), CHCLI, |
360,000 | 316,278 | ||||
| California Statewide Communities Development Authority Rev. (St. Joseph Health System), FGIC, 5.75%, 2047 |
490,000 | 470,670 | ||||
| Colorado Health Facilities Authority Rev. (Poudre Valley Health Care, Inc.), “B”, FSA, 5.25%, 2036 |
195,000 | 172,378 | ||||
| Colorado Health Facilities Authority Rev. (Poudre Valley Health Care, Inc.), “C”, FSA, 5.25%, 2040 |
175,000 | 153,092 | ||||
| District of Columbia Hospital Rev. (Children’s Hospital Obligated Group), FSA, 5.25%, 2045 |
370,000 | 324,213 | ||||
| Harris County, TX, Health Facilities Development Corp., Hospital Rev. (Memorial Hermann Healthcare Systems), “B”, 7%, 2027 |
205,000 | 216,525 | ||||
| Harris County, TX, Health Facilities Development Corp., Hospital Rev. (Memorial Hermann Healthcare Systems), “B”, 7.25%, 2035 |
250,000 | 264,080 | ||||
1
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Healthcare Revenue - Hospitals – continued |
||||||
| Health Care Authority for Baptist Health, AL, “D”, 5%, 2021 |
$ | 850,000 | $ | 741,056 | ||
| Henderson, NV, Health Care Facilities Rev. (Catholic West), “A”, 6.75%, 2010 (c) |
440,000 | 477,066 | ||||
| Henderson, NV, Health Care Facilities Rev. (Catholic West), “A”, 6.75%, 2010 (c) |
60,000 | 64,512 | ||||
| Illinois Development Finance Authority Hospital Rev. (Adventist Health Systems Sunbelt Obligatory), 5.5%, 2009 (c) |
900,000 | 939,465 | ||||
| Illinois Finance Authority Rev. (Children’s Memorial Hospital), “A”, ASSD GTY, 5.25%, 2047 |
540,000 | 451,813 | ||||
| Illinois Finance Authority Rev. (Edward Hospital), “A”, AMBAC, 5.5%, 2040 |
470,000 | 361,345 | ||||
| Illinois Finance Authority Rev. (KishHealth Systems Obligated Group), 5.75%, 2028 |
380,000 | 340,548 | ||||
| Illinois Health Facilities Authority Rev. (Swedish American Hospital), 6.875%, 2010 (c) |
500,000 | 531,115 | ||||
| Indiana Finance Authority Rev. (Sisters of St. Francis Health Services), 5.375%, 2032 |
225,000 | 207,119 | ||||
| Indiana Health & Educational Facilities Authority, Hospital Rev. (Community Foundation of Northwest Indiana), 5.5%, 2037 |
845,000 | 646,755 | ||||
| Indiana Health & Educational Facilities Finance Authority, Hospital Rev. (Clarian Health), “A”, 5%, 2039 |
390,000 | 281,061 | ||||
| Indiana Health & Educational Facilities Financing Authority Rev. (Sisters of St. Francis Health Services, Inc.), “E”, FSA, 5.25%, 2041 |
515,000 | 467,841 | ||||
| Indiana Health Facilities Financing Authority Rev. (Community Foundation of Northwest Indiana ), “A”, 6%, 2034 |
150,000 | 124,181 | ||||
| Johnson City, TN, Health & Educational Facilities Board Hospital Rev. (Mountain States Health), “A”, 5.5%, 2036 |
845,000 | 607,487 | ||||
| Kentucky Economic Development Finance Authority, Hospital Facilities Rev. (Baptist Healthcare System), “A”, 5.375%, 2024 |
255,000 | 253,536 | ||||
| Kentucky Economic Development Finance Authority, Hospital Facilities Rev. (Baptist Healthcare System), “A”, 5.625%, 2027 |
85,000 | 85,297 | ||||
| Knox County, TN, Health Educational & Housing Facilities, Board Rev. (University Health Systems, Inc.), 5.25%, 2036 |
330,000 | 244,464 | ||||
| Lake County, OH, Hospital Facilities Rev. (Lake Hospital), “C”, 6%, 2043 |
265,000 | 218,826 | ||||
| Louisiana Public Facilities Authority Hospital Rev. (Lake Charles Memorial Hospital), 6.375%, 2034 |
380,000 | 284,191 | ||||
| Louisville & Jefferson County, KY, Metro Government Health Facilities Rev. (Jewish Hospital & St. Mary’s Healthcare), 6.125%, 2037 |
255,000 | 248,584 | ||||
| Louisville & Jefferson County, KY, Metropolitan Government Healthcare Systems Rev. (Norton Healthcare, Inc.), 5.25%, 2036 |
385,000 | 287,845 | ||||
| Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2032 |
45,000 | 31,570 | ||||
| Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2037 |
45,000 | 30,596 | ||||
| Maryland Health & Higher Educational Facilities Authority Rev. (Anne Arundel Health System), “A”, 6.75%, 2039 |
175,000 | 177,706 | ||||
| Maryland Health & Higher Educational Facilities Authority Rev. (Medstar Health), BHAC, 5.25%, 2046 |
365,000 | 352,824 | ||||
| Maryland Health & Higher Educational Facilities Authority Rev. (Mercy Medical Center), “A”, 5.5%, 2042 |
300,000 | 240,243 | ||||
| Maryland Health & Higher Educational Facilities Authority Rev. (University of Maryland Medical System), 6.75%, 2010 (c) |
250,000 | 270,745 | ||||
| Maryland Health & Higher Educational Facilities Authority Rev. (Washington County Hospital), 6%, 2043 |
95,000 | 72,297 | ||||
| Massachusetts Health & Educational Facilities Authority Rev. (Boston Medical Center), 5.25%, 2038 |
110,000 | 82,046 | ||||
| Massachusetts Health & Educational Facilities Authority Rev. (Milford-Whitinsville Regional), “C”, 5.75%, 2013 |
430,000 | 413,467 | ||||
| Massachusetts Health & Educational Facilities Authority Rev. (Quincy Medical Center), “A”, 6.5%, 2038 |
165,000 | 111,791 | ||||
| Massachusetts Health & Educational Facilities Authority Rev., Unrefunded (South Shore Hospital), “F”, 5.75%, 2029 |
370,000 | 323,883 | ||||
2
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Healthcare Revenue - Hospitals – continued |
||||||
| New Hampshire Health & Educational Facilities Authority Rev. (Catholic Medical Center), “A”, 6.125%, 2012 (c) |
$ | 440,000 | $ | 507,760 | ||
| New Hampshire Health & Educational Facilities Authority Rev. (Catholic Medical Center), “A”, 6.125%, 2032 |
60,000 | 45,779 | ||||
| New Hampshire Health & Educational Facilities Authority Rev. (Memorial Hospital at Conway), 5.25%, 2036 |
300,000 | 207,768 | ||||
| New Jersey Health Care Facilities, Financing Authority Rev. (St. Peter’s University Hospital), 5.75%, 2037 |
415,000 | 313,466 | ||||
| New York Dormitory Authority Rev. (North Shore Long Island Jewish Group), 5.5%, 2013 (c) |
100,000 | 114,974 | ||||
| New York Dormitory Authority Rev., Non-State Supported Debt (Bronx-Lebanon Hospital Center), LOC, 6.5%, 2030 |
165,000 | 166,797 | ||||
| New York Dormitory Authority Rev., Non-State Supported Debt (Bronx-Lebanon Hospital Center), LOC, 6.25%, 2035 |
100,000 | 95,795 | ||||
| New York Dormitory Authority Rev., Non-State Supported Debt (Mt. Sinai NYU Health), 5.5%, 2026 |
200,000 | 171,936 | ||||
| Norman, OK, Regional Hospital Authority Rev., 5.375%, 2029 |
110,000 | 77,311 | ||||
| Northampton County, PA, General Purpose Authority Hospital Rev. (St. Luke’s Hospital), “A”, 5.5%, 2035 |
100,000 | 82,454 | ||||
| Northampton County, PA, General Purpose Authority Hospital Rev. (St. Luke’s Hospital), “A”, 5.5%, 2040 |
115,000 | 93,060 | ||||
| Orange County, FL, Health Facilities Authority Hospital Rev. (Orlando Regional Healthcare), 5.75%, 2012 (c) |
150,000 | 171,401 | ||||
| Orange County, FL, Health Facilities Authority Hospital Rev. (Orlando Regional Healthcare), “C”, ETM, 6.25%, 2013 (c) |
1,740,000 | 2,008,169 | ||||
| Orange County, FL, Health Facilities Authority Hospital Rev. (Orlando Regional Healthcare), “E”, 6%, 2009 (c) |
5,000 | 5,200 | ||||
| Orange County, FL, Health Facilities Authority Hospital Rev. (Orlando Regional Healthcare), “E”, 6%, 2026 |
170,000 | 156,281 | ||||
| Philadelphia, PA, Hospitals & Higher Education Facilities Authority Rev. (Temple University Hospital), “A”, 5.5%, 2030 |
395,000 | 284,605 | ||||
| Philadelphia, PA, Hospitals & Higher Educational Facilities Rev. (Temple University), “A”, 6.625%, 2023 |
335,000 | 296,341 | ||||
| Rhode Island Health & Educational Building Corp., Hospital Financing (Lifespan Obligated Group), 6.375%, 2012 (c) |
435,000 | 491,641 | ||||
| Ross County, OH, Hospital Rev. (Adena Health System), 5.75%, 2035 |
325,000 | 291,489 | ||||
| Royal Oak, MI, Hospital Finance Authority Rev. (William Beaumont Hospital), 8.25%, 2039 |
230,000 | 244,288 | ||||
| Saline County, MO, Industrial Development Authority Rev. (John Fitzgibbon Memorial Hospital, Inc.), 5.625%, 2035 |
500,000 | 341,705 | ||||
| Scioto County, OH, Hospital Facilities Rev. (Southern Ohio Medical Center), 5.75%, 2038 |
555,000 | 475,702 | ||||
| Skagit County, WA, Public Hospital District No. 001 Rev. (Skagit Valley Hospital), 5.75%, 2032 |
285,000 | 201,113 | ||||
| South Carolina Jobs Economic Development Authority (Bon Secours - Venice Healthcare Corp.), 5.5%, 2012 (c) |
110,000 | 124,746 | ||||
| South Carolina Jobs Economic Development Authority (Bon Secours - Venice Healthcare Corp.), 5.5%, 2023 |
390,000 | 362,419 | ||||
| Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.375%, 2015 |
380,000 | 348,935 | ||||
| Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.125%, 2036 |
1,000,000 | 695,610 | ||||
| St. Paul, MN, Housing & Redevelopment Authority Healthcare Facilities Rev. (Healthpartners Obligations Group), 5.25%, 2023 |
325,000 | 275,867 | ||||
| St. Paul, MN, Housing & Redevelopment Hospital (Healthpartners Obligations Group), 5.25%, 2036 |
615,000 | 454,214 | ||||
| Sullivan County, TN, Health, Educational & Housing Facilities Board Hospital Rev. (Wellmont Health Systems Project), “C”, 5.25%, 2026 |
1,365,000 | 942,000 | ||||
| Sullivan County, TN, Health, Educational & Housing Facilities Board Hospital Rev. (Wellmont Health Systems Project), “C”, 5.25%, 2036 |
135,000 | 83,040 | ||||
3
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Healthcare Revenue - Hospitals – continued |
||||||
| Sumner County, TN, Health, Educational & Housing Facilities Board Rev. (Sumner Regional Health), “A”, 5.5%, 2046 |
$ | 1,000,000 | $ | 483,630 | ||
| Tarrant County, TX, Cultural Education Facilities Finance Corp. (Scott & White Memorial Hospital), “A”, 5.5%, 2031 |
85,000 | 78,010 | ||||
| Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), “A”, 5.25%, 2032 |
265,000 | 183,666 | ||||
| Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), “A”, 5.375%, 2037 |
220,000 | 150,689 | ||||
| University of Kansas Hospital Authority Health Facilities Rev. (KU Health Systems), 5.625%, 2012 (c) |
500,000 | 562,815 | ||||
| Washington Health Care Facilities Authority Rev. (Highline Medical Center), FHA, 6.25%, 2036 |
700,000 | 696,311 | ||||
| Washington Health Care Facilities Authority Rev. (Mason Medical), “A”, 6.25%, 2042 |
570,000 | 450,534 | ||||
| West Virginia Hospital Finance Authority, Hospital Rev. (Thomas Health System), 6.5%, 2038 |
285,000 | 208,287 | ||||
| Wisconsin Health & Educational Facilities Authority Rev. (Aurora Health Care, Inc.), 6.4%, 2033 |
175,000 | 152,964 | ||||
| Wisconsin Health & Educational Facilities Authority Rev. (Fort Healthcare, Inc. Project), 5.375%, 2018 |
385,000 | 347,528 | ||||
| Wisconsin Health & Educational Facilities Authority Rev. (Wheaton Franciscan Healthcare), 5.25%, 2034 |
695,000 | 427,738 | ||||
| $ | 27,962,329 | |||||
| Healthcare Revenue - Long Term Care – 6.8% |
||||||
| Abilene, TX, Health Facilities Development Corp., Retirement Facilities Rev. (Sears Methodist Retirement), “A”, 7%, 2033 |
$ | 500,000 | $ | 371,580 | ||
| Bucks County, PA, Industrial Development Authority Retirement Community Rev. (Ann’s Choice, Inc.), “A”, 6.125%, 2025 |
500,000 | 364,150 | ||||
| Capital Projects Finance Authority, FL (Glenridge on Palmer Ranch), “A”, 8%, 2012 (c) |
500,000 | 606,960 | ||||
| Chartiers Valley, PA, Industrial & Commercial Development Authority Rev. (Friendship Village South), “A”, 5.25%, 2013 |
500,000 | 455,275 | ||||
| Chester County, PA, Industrial Development Authority Rev. (RHA Nursing Home), 8.5%, 2032 |
720,000 | 600,862 | ||||
| Fulton County, GA, Residential Care Facilities (Canterbury Court), “A”, 6.125%, 2034 |
250,000 | 173,653 | ||||
| Fulton County, GA, Residential Care Facilities, First Mortgage (Lenbrook Square Foundation, Inc.), “A”, 5%, 2029 |
270,000 | 161,625 | ||||
| Illinois Finance Authority Rev. (Hoosier Care, Inc.), “A”, 7.125%, 2034 |
435,000 | 322,361 | ||||
| Illinois Finance Authority Rev. (Smith Village), “A”, 6.25%, 2035 |
500,000 | 359,020 | ||||
| Illinois Health Facilities Authority Rev. (Lutheran Senior Ministries, Inc.), 7.375%, 2011 (c) |
250,000 | 286,588 | ||||
| Illinois Health Facilities Authority Rev. (Smith Crossing), “A”, 7%, 2032 |
250,000 | 199,668 | ||||
| Johnson City, TN, Health & Educational Facilities Board (Appalachian Christian Village), “A”, 6.25%, 2032 |
250,000 | 175,678 | ||||
| Juneau, AK, City & Borough Non-Recourse Rev. (St. Ann’s Care Project), 6.875%, 2025 |
440,000 | 344,344 | ||||
| La Verne, CA, COP (Brethren Hillcrest Homes), “B”, 6.625%, 2025 |
350,000 | 279,304 | ||||
| Lee County, FL, Industrial Development Authority Health Care Facilities Rev. (Shell Point Village), “A”, 5.5%, 2009 (c) |
175,000 | 182,609 | ||||
| Massachusetts Development Finance Agency Rev. (Loomis Communities, Inc.), “A”, 5.625%, 2015 |
200,000 | 178,394 | ||||
| Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.125%, 2028 |
200,000 | 124,692 | ||||
| Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.25%, 2035 |
300,000 | 177,840 | ||||
| New Jersey Economic Development Authority Rev. (Lions Gate), “A”, 5.75%, 2025 |
310,000 | 221,910 | ||||
| New Jersey Economic Development Authority Rev. (Lions Gate), “A”, 5.875%, 2037 |
100,000 | 65,326 | ||||
| Savannah, GA, Economic Development Authority, First Mortgage (Marshes of Skidway), “A”, 7.4%, 2024 |
250,000 | 211,265 | ||||
4
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Healthcare Revenue - Long Term Care – continued |
||||||
| Shelby County, TN, Health, Educational & Housing Facilities Board Rev. (Germantown Village), “A”, 7.25%, 2034 |
$ | 150,000 | $ | 113,043 | ||
| South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Wesley Commons), 5.3%, 2036 |
250,000 | 147,688 | ||||
| Suffolk County, NY, Industrial Development Agency, Civic Facilities Rev. (Gurwin Jewish Phase II), 6.7%, 2039 |
500,000 | 352,720 | ||||
| $ | 6,476,555 | |||||
| Healthcare Revenue - Other – 0.3% |
||||||
| Massachusetts Health & Educational Facilities Authority Rev. (Civic Investments, Inc.), “A”, 9%, 2012 (c) |
$ | 250,000 | $ | 299,893 | ||
| Human Services – 0.2% |
||||||
| Massachusetts Development Finance Agency Rev. (Evergreen Center, Inc.), 5%, 2024 |
$ | 250,000 | $ | 170,548 | ||
| Industrial Revenue - Airlines – 0.1% |
||||||
| Chicago, IL, O’Hare International Airport Special Facilities Rev. (American Airlines, Inc.), 5.5%, 2030 |
$ | 105,000 | $ | 44,882 | ||
| Dallas Fort Worth, TX, International Airport Facility Improvement Corp. (American Airlines, Inc.), 5.5%, 2030 |
105,000 | 45,526 | ||||
| $ | 90,408 | |||||
| Industrial Revenue - Chemicals – 0.3% |
||||||
| Brazos River, TX, Harbor Navigation District (Dow Chemical Co.), “B-2”, 4.95%, 2033 |
$ | 500,000 | $ | 314,680 | ||
| Industrial Revenue - Environmental Services – 0.9% |
||||||
| California Pollution Control Financing Authority, Solid Waste Disposal Rev. (Waste Management, Inc.), “C”, 5.125%, 2023 |
$ | 335,000 | $ | 276,626 | ||
| Mission, TX, Economic Development Corp., Solid Waste Disposal Rev. (Allied Waste N.A., Inc.), “A”, 5.2%, 2018 |
650,000 | 557,811 | ||||
| $ | 834,437 | |||||
| Industrial Revenue - Other – 2.4% |
||||||
| California Statewide Communities Development Authority Facilities (Microgy Holdings Project), 9%, 2038 |
$ | 200,000 | $ | 168,220 | ||
| Gulf Coast, TX, Industrial Development Authority Rev. (CITGO Petroleum Corp.), 8%, 2028 |
250,000 | 218,995 | ||||
| Houston, TX, Industrial Development Corp. (United Parcel Service, Inc.), 6%, 2023 |
330,000 | 248,457 | ||||
| Indianapolis, IN, Airport Authority Rev., Special Facilities (FedEx Corp.), 5.1%, 2017 |
250,000 | 213,615 | ||||
| Michigan Strategic Fund Ltd. Obligation Rev. (Michigan Sugar Co., Carrollton), 6.55%, 2025 |
250,000 | 187,188 | ||||
| New Jersey Economic Development Authority Rev. (GMT Realty LLC), “B”, 6.875%, 2037 |
500,000 | 367,680 | ||||
| Toledo Lucas County, OH, Authority Port Rev., Facilities (CSX, Inc. Project), 6.45%, 2021 |
1,000,000 | 926,860 | ||||
| $ | 2,331,015 | |||||
| Industrial Revenue - Paper – 1.1% |
||||||
| Camden, AL, Industrial Development Board Exempt Facilities Rev., “B” (Weyerhaeuser Co.), 6.375%, 2013 (c) |
$ | 275,000 | $ | 314,416 | ||
| Camden, AR, Environmental Improvement Rev. (International Paper Co.), “A”, 5%, 2018 |
500,000 | 363,045 | ||||
| Escambia County, FL, Environmental Improvement Rev. (International Paper Co.), “A”, 5.75%, 2027 |
250,000 | 160,765 | ||||
| Rockdale County, GA, Development Authority Project Rev. (Visy Paper Project), “A”, 6.125%, 2034 |
320,000 | 201,149 | ||||
| $ | 1,039,375 | |||||
| Miscellaneous Revenue - Entertainment & Tourism – 1.0% |
||||||
| Cabazon Band Mission Indians, CA, 8.375%, 2015 (z) |
$ | 100,000 | $ | 92,265 | ||
| Cabazon Band Mission Indians, CA, 8.75%, 2019 (z) |
360,000 | 326,624 | ||||
5
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Miscellaneous Revenue - Entertainment & Tourism – continued |
||||||
| Cow Creek Band of Umpqua Tribe of Indians, OR, “C”, 5.625%, 2026 (n) |
$ | 350,000 | $ | 229,898 | ||
| New York Liberty Development Corp. Rev. (National Sports Museum), “A”, 6.125%, 2019 (b) |
220,000 | 220 | ||||
| New York, NY, City Industrial Development Agency Rev. (Queens Baseball Stadium), ASSD GTY, 6.125%, 2029 |
65,000 | 69,060 | ||||
| New York, NY, City Industrial Development Agency Rev. (Queens Baseball Stadium), ASSD GTY, 6.375%, 2039 |
45,000 | 47,604 | ||||
| New York, NY, City Industrial Development Agency Rev. (Queens Baseball Stadium), ASSD GTY, 6.5%, 2046 |
195,000 | 206,593 | ||||
| $ | 972,264 | |||||
| Miscellaneous Revenue - Other – 2.9% |
||||||
| Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, XLCA, 5.25%, 2019 |
$ | 190,000 | $ | 156,695 | ||
| Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, XLCA, 5.25%, 2020 |
155,000 | 124,205 | ||||
| Austin, TX, Convention Center (Convention Enterprises, Inc.), “A”, XLCA, 5.25%, 2024 |
90,000 | 64,456 | ||||
| Dallas, TX, Civic Center Convention Complex Rev., ASSD GTY, 5.25%, 2034 |
465,000 | 456,658 | ||||
| District of Columbia Rev. (Smithsonian Institution), 5%, 2028 |
1,000,000 | 999,970 | ||||
| Oklahoma Industries Authority Rev. (Oklahoma Medical Research Foundation Project), 5.5%, 2029 |
600,000 | 553,296 | ||||
| Summit County, OH, Port Authority Building Rev. (Seville Project), “A”, 5.1%, 2025 |
440,000 | 306,464 | ||||
| V Lakes Utility District Ranking Water Systems Rev., 7%, 2037 |
85,000 | 64,821 | ||||
| $ | 2,726,565 | |||||
| Multi-Family Housing Revenue – 6.4% |
||||||
| Broward County, FL, Housing Finance Authority Rev. (Chaves Lakes Apartments Ltd.), “A”, 7.5%, 2040 |
$ | 500,000 | $ | 426,410 | ||
| Capital Trust Agency, FL, Housing Rev. (Atlantic Housing Foundation), “B”, 7%, 2032 |
365,000 | 291,011 | ||||
| Charter Mac Equity Issuer Trust, FHLMC, 6.3%, 2019 (n) |
500,000 | 456,820 | ||||
| Charter Mac Equity Issuer Trust, “B”, FHLMC, 7.6%, 2050 (a)(n) |
500,000 | 506,540 | ||||
| Clay County, FL, Housing Finance Authority Rev. (Madison Commons Apartments), “A”, 7.45%, 2040 |
245,000 | 200,503 | ||||
| District of Columbia Housing Finance Agency (Henson Ridge), “E”, FHA, 5.1%, 2037 |
500,000 | 437,835 | ||||
| Durham, NC, Durham Housing Authority Rev. (Magnolia Pointe Apartments), 5.65%, 2038 (a) |
374,263 | 280,611 | ||||
| Massachusetts Housing Finance Agency Rev., “B”, 5%, 2030 |
455,000 | 434,338 | ||||
| Massachusetts Housing Finance Agency Rev., “E”, 5%, 2028 |
250,000 | 226,635 | ||||
| Minneapolis, MN, Student Housing Rev. (Riverton Community Housing Project), “A”, 5.7%, 2040 |
250,000 | 167,800 | ||||
| MuniMae TE Bond Subsidiary LLC, 5.5%, 2049 (a)(z) |
1,000,000 | 710,060 | ||||
| New Mexico Mortgage Finance Authority, Multi-Family Housing Rev. (Sun Pointe Apartments), “E”, FHA, 4.8%, 2040 |
500,000 | 409,005 | ||||
| Resolution Trust Corp., Pass-Through Certificates, “1993”, 8.5%, 2016 (z) |
227,741 | 208,815 | ||||
| Seattle, WA, Housing Authority Rev., Capped Fund Program (High Rise Rehab), “I”, FSA, 5%, 2025 |
500,000 | 467,715 | ||||
| Tacoma, WA, Housing Authority Multi-Family Rev. (HSG-GNMA Collateral Mortgage Loans Redwood), GNMA, 5.05%, 2037 |
1,040,000 | 915,470 | ||||
| $ | 6,139,568 | |||||
| Sales & Excise Tax Revenue – 1.6% |
||||||
| Bolingbrook, IL, Sales Tax Rev., 6.25%, 2024 |
$ | 250,000 | $ | 166,775 | ||
| Massachusetts Bay Transportation Authority, Sales Tax Rev., “A-1”, 5.25%, 2029 |
350,000 | 367,941 | ||||
| Tampa Bay, FL, Sports Authority Rev. (Sales Tax-Tampa Bay Arena), MBIA, 5.75%, 2025 |
1,000,000 | 1,019,390 | ||||
| $ | 1,554,106 | |||||
| Single Family Housing - Local – 0.9% |
||||||
| Chicago, IL, Single Family Mortgage Rev., “A”, GNMA, 7.15%, 2031 |
$ | 15,000 | $ | 15,187 | ||
| Minneapolis & St. Paul Housing Authority Rev. (City Living), “A-2”, GNMA, 5%, 2038 |
474,198 | 393,968 | ||||
6
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Single Family Housing - Local – continued |
||||||
| Pittsburgh, PA, Urban Redevelopment Authority Rev., “C”, GNMA, 4.8%, 2028 |
$ | 500,000 | $ | 464,730 | ||
| $ | 873,885 | |||||
| Single Family Housing - State – 2.7% |
||||||
| Colorado Housing & Finance Authority Rev. (Single Family Project), “B-2”, 7.25%, 2031 |
$ | 40,000 | $ | 40,866 | ||
| Maine Housing Authority Mortgage, “A-2”, 4.95%, 2027 |
500,000 | 452,870 | ||||
| Montana Board Housing (Single Family Mortgage), “A”, 5%, 2036 |
840,000 | 726,852 | ||||
| North Dakota Housing Finance Agency Rev., “A”, 4.85%, 2021 |
470,000 | 457,334 | ||||
| Tennessee Housing Development Agency (Homeownership Program 2007), 4.65%, 2027 |
1,000,000 | 852,180 | ||||
| $ | 2,530,102 | |||||
| Solid Waste Revenue – 2.3% |
||||||
| Delaware County, PA, Industrial Development Authority Rev. (American Ref-Fuel), “A”, 6.1%, 2013 |
$ | 1,000,000 | $ | 992,050 | ||
| Massachusetts Industrial Finance Agency, Resource Recovery Rev. (Ogden Haverhill Associates), “A”, 5.45%, 2012 |
1,250,000 | 1,192,150 | ||||
| $ | 2,184,200 | |||||
| State & Agency - Other – 0.2% |
||||||
| Commonwealth of Puerto Rico (Mepsi Campus), “A”, 6.25%, 2024 |
$ | 100,000 | $ | 82,937 | ||
| Commonwealth of Puerto Rico (Mepsi Campus), “A”, 6.5%, 2037 |
100,000 | 77,517 | ||||
| $ | 160,454 | |||||
| State & Local Agencies – 18.6% |
||||||
| Andover, MN, Economic Development Authority Public Facilities Lease Rev. (Andover Community Center), 5%, 2014 (j) |
$ | 355,000 | $ | 389,620 | ||
| Andover, MN, Economic Development Authority Public Facilities Lease Rev. (Bal Community Center), 5%, 2014 (j) |
245,000 | 268,892 | ||||
| Berkeley County, SC, School District Installment Lease (Securing Assets for Education), 5%, 2028 |
500,000 | 466,085 | ||||
| Dorchester County, SC, School District No. 2, Growth Remedy Opportunity Tax Hike, 5.25%, 2029 |
250,000 | 246,253 | ||||
| Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Enhanced, “B”, |
500,000 | 564,290 | ||||
| Hibbing, MN, Economic Development Authority Rev. (Public Project Hibbing Lease Obligations), 6.4%, 2012 |
260,000 | 245,653 | ||||
| Indiana Office Building Commission Correction Facilities Program Rev. (Women’s Prison), “B”, AMBAC, 6.25%, 2016 |
2,820,000 | 3,239,503 | ||||
| Lancaster, SC, Educational Assistance Program, Inc., School District Lancaster County Project, 5%, 2026 |
550,000 | 509,064 | ||||
| Laurens County, SC, School District No. 55, Installment Purchase Rev., 5.25%, 2030 |
350,000 | 290,042 | ||||
| Los Angeles County, CA, Schools Regionalized Business Service Corp., Capital Appreciation Pooled Financing, “A”, AMBAC, 0%, 2021 |
2,135,000 | 1,108,876 | ||||
| Mississippi Development Bank Special Obligation (Hinds Community College), ASSD GTY, 5.375%, 2033 |
35,000 | 34,975 | ||||
| New York Dormitory Authority Rev. (City University) “A”, 5.75%, 2018 |
5,000,000 | 5,771,550 | ||||
| New York Urban Development Corp. Rev. (State Facilities), 5.6%, 2015 |
1,000,000 | 1,111,990 | ||||
| Newberry, SC, Investing in Children’s Education (Newberry County School District Program), 5%, 2030 |
350,000 | 279,104 | ||||
| Riverside, MO, Tax Increment Rev. (L-385 Levee Project), 5.25%, 2020 |
500,000 | 495,800 | ||||
| St. Louis, MO, Industrial Development Authority Leasehold Rev. (Convention Center Hotel), AMBAC, 0%, 2018 |
300,000 | 183,486 | ||||
| Utah Building Ownership Authority Lease Rev. (State Facilities Master Lease Program), “C”, FSA, 5.5%, 2019 |
1,750,000 | 2,022,475 | ||||
| West Virginia Building Commission, Lease Rev. (WV Regional Jail), “A”, AMBAC, 5.375%, 2018 |
500,000 | 557,990 | ||||
| $ | 17,785,648 | |||||
7
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Student Loan Revenue – 2.0% |
||||||
| Massachusetts Educational Financing Authority, Education Loan Rev., “H”, ASSD GTY, 6.35%, 2030 |
$ | 550,000 | $ | 517,044 | ||
| Nebhelp, Inc., Nebraska Rev. Jr., “A-6”, MBIA, 6.45%, 2018 |
1,500,000 | 1,425,435 | ||||
| $ | 1,942,479 | |||||
| Tax - Other – 3.9% |
||||||
| Dallas County, TX, Flood Control District, 7.25%, 2032 |
$ | 500,000 | $ | 420,955 | ||
| Dona Ana County, NM, Gross Receipts Tax Rev., AMBAC, 5.5%, 2015 |
1,000,000 | 1,028,060 | ||||
| New Jersey Economic Development Authority Rev. (Cigarette Tax), 5.75%, 2029 |
385,000 | 285,951 | ||||
| New York, NY, Transitional Finance Authority Rev., “A”, 5%, 2026 (f) |
1,960,000 | 1,980,933 | ||||
| $ | 3,715,899 | |||||
| Tax Assessment – 4.4% |
||||||
| Atlanta, GA, Tax Allocation (Eastside Project), “A”, 5.625%, 2016 |
$ | 355,000 | $ | 313,053 | ||
| Celebration Community Development District, FL, “A”, 6.4%, 2034 |
230,000 | 200,367 | ||||
| Chicago, IL, Tax Increment Allocation (Pilsen Redevelopment), “B”, 6.75%, 2022 |
610,000 | 504,513 | ||||
| Du Page County, IL, Special Service Area (Monarch Landing Project), 5.4%, 2016 |
245,000 | 216,061 | ||||
| Grand Bay at Doral Community Development District, FL, “B”, 6%, 2017 |
405,000 | 294,706 | ||||
| Heritage Harbour North Community Development District, FL, Capital Improvement Rev., 6.375%, 2038 |
140,000 | 87,086 | ||||
| Huntington Beach, CA, Community Facilities District, Special Tax (Grand Coast Resort), “2000-1”, 6.45%, 2031 |
300,000 | 243,804 | ||||
| Lincoln, CA, Special Tax (Community Facilities District ), “2003-1”, 5.55%, 2013 (c) |
445,000 | 519,627 | ||||
| Lincolnshire, IL, Special Service Area No. 1 (Sedgebrook Project), 6.25%, 2034 |
225,000 | 149,456 | ||||
| Magnolia Park Community Development District, FL, Special Assessment, “A”, 6.15%, 2039 |
180,000 | 107,964 | ||||
| Plano, IL, Special Service Area No. 4 (Lakewood Springs Project Unit 5-B), 6%, 2035 |
745,000 | 465,923 | ||||
| Portage, IN, Economic Development Rev. (Ameriplex Project), 5%, 2027 |
105,000 | 69,272 | ||||
| Seven Oaks, FL, Community Development District II Special Assessment Rev., “A”, 5.875%, 2035 |
470,000 | 264,243 | ||||
| Seven Oaks, FL, Community Development District II Special Assessment Rev., “B”, 5%, 2009 |
150,000 | 90,165 | ||||
| Tolomato Community Development District, FL, Special Assessment, 6.65%, 2040 |
100,000 | 61,275 | ||||
| Volo Village, IL, Special Service Area No. 3, Special Tax (Symphony Meadows Project), “1”, 6%, 2036 |
250,000 | 134,338 | ||||
| West Villages Improvement District, FL, Special Assessment Rev. (Unit of Development No. 3), 5.5%, 2037 |
495,000 | 281,259 | ||||
| Westridge, FL, Community Development District, Capital Improvement Rev., 5.8%, 2037 (b) |
490,000 | 222,249 | ||||
| $ | 4,225,361 | |||||
| Tobacco – 4.2% |
||||||
| Badger, WI, Tobacco Asset Securitization Corp., 6.375%, 2032 |
$ | 250,000 | $ | 237,193 | ||
| Buckeye, OH, Tobacco Settlement Rev., Asset Backed, “A-2”, 5.875%, 2030 |
480,000 | 302,923 | ||||
| Buckeye, OH, Tobacco Settlement Rev., Asset Backed, “A-2”, 5.875%, 2047 |
1,405,000 | 792,490 | ||||
| Buckeye, OH, Tobacco Settlement Rev., Asset Backed, “A-2”, 6.5%, 2047 |
635,000 | 395,332 | ||||
| Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., “A-1”, 6.25%, 2013 (c) |
700,000 | 771,379 | ||||
| Inland Empire, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Asset Backed, “C-1”, 0%, 2036 |
250,000 | 14,905 | ||||
| Louisiana Tobacco Settlement Authority Rev., “2001-B”, 5.875%, 2039 |
300,000 | 190,839 | ||||
| Michigan Tobacco Settlement Finance Authority Rev., Asset Backed, “A”, 6%, 2048 |
1,380,000 | 809,577 | ||||
| South Carolina Tobacco Settlement Authority Rev., “B”, 6.375%, 2011 (c) |
400,000 | 437,332 | ||||
| Virginia Tobacco Settlement Financing Corp., “B-1”, 5%, 2047 |
105,000 | 54,599 | ||||
| $ | 4,006,569 | |||||
| Toll Roads – 1.9% |
||||||
| Northwest Parkway, CO, Public Highway Authority (First Tier), “D”, 7.125%, 2011 (c) |
$ | 495,000 | $ | 534,224 | ||
8
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Toll Roads – continued |
||||||
| San Joaquin Hills, CA, Transportation Corridor Agency Toll Road Rev., “A”, MBIA, 0%, 2015 |
$ | 2,000,000 | $ | 1,322,040 | ||
| $ | 1,856,264 | |||||
| Transportation - Special Tax – 1.3% |
||||||
| Regional Transportation Authority, IL, “C”, FGIC, 7.75%, 2020 |
$ | 1,000,000 | $ | 1,285,940 | ||
| Universities - Colleges – 29.4% |
||||||
| Anderson, IN, Economic Development Rev. (Anderson University Project), 5%, 2028 |
$ | 225,000 | $ | 146,439 | ||
| California Educational Facilities Authority Rev. (California Lutheran University), 5.75%, 2038 |
350,000 | 277,564 | ||||
| California Educational Facilities Authority Rev. (University of Southern California), “A”, 5.25%, 2038 |
535,000 | 547,102 | ||||
| California Municipal Finance Authority Rev. (Biola University), 5.8%, 2028 |
100,000 | 83,857 | ||||
| California State University Rev., “A”, AMBAC, 5%, 2026 |
960,000 | 962,966 | ||||
| Chicago, IL, State University Rev. Auxiliary Facilities Systems, MBIA, 5.5%, 2023 |
1,085,000 | 1,213,377 | ||||
| District of Columbia Rev. (Georgetown University), BHAC, 0% to 2018, 5% to 2040 |
1,430,000 | 662,190 | ||||
| Grand Valley, MI, State University Rev., 5.5%, 2027 |
115,000 | 113,272 | ||||
| Grand Valley, MI, State University Rev., 5.625%, 2029 |
55,000 | 54,168 | ||||
| Harris County, TX, Cultural Education Facilities Rev. (Baylor College of Medicine), “D”, 5.625%, 2032 |
280,000 | 268,834 | ||||
| Harrisburg, PA, Harrisburg University of Science, “A”, 5.4%, 2016 |
100,000 | 94,690 | ||||
| Illinois Finance Authority Rev. (Illinois Institute of Technology), “A”, 5%, 2031 |
335,000 | 245,582 | ||||
| Illinois Finance Authority Rev. (Illinois Institute of Technology), “A”, 5%, 2036 |
335,000 | 237,341 | ||||
| Lubbock, TX, Educational Facilities Authority Rev. (Lubbock Christian University), 5.125%, 2027 |
285,000 | 210,002 | ||||
| Lubbock, TX, Educational Facilities Authority Rev. (Lubbock Christian University), 5.25%, 2037 |
255,000 | 176,998 | ||||
| Marietta, GA, Development Facilities Authority Rev. (Life University), 7%, 2030 |
100,000 | 76,946 | ||||
| Marietta, GA, Development Facilities Authority Rev. (Life University), 7%, 2039 |
100,000 | 74,480 | ||||
| Massachusetts Development Finance Agency Rev. (Western New England College), 6.125%, |
315,000 | 364,657 | ||||
| Massachusetts Health & Educational Facilities Authority Rev. (Simmons College), “I”, 8%, 2029 |
225,000 | 231,908 | ||||
| Metropolitan Government of Nashville & Davidson County, TN, Health & Educational Facilities Board Rev. (Meharry Medical College), AMBAC, 6%, 2016 |
1,575,000 | 1,827,331 | ||||
| Miami-Dade County, FL, Educational Facilities Authority Rev. (University of Miami), “A”, 5.75%, 2028 |
125,000 | 124,135 | ||||
| Michigan Higher Education Facilities Authority Rev. (College for Creative Studies), 6.125%, 2037 |
475,000 | 351,951 | ||||
| Missouri Health & Educational Facilities Authority Rev. (Central Institute for the Deaf), RADIAN, 5.85%, 2010 (c) |
600,000 | 623,484 | ||||
| New York Dormitory Authority Rev. (Columbia University), 5%, 2038 (u) |
15,000,000 | 15,166,200 | ||||
| San Leanna, TX, Educational Facilities Corp., Higher Education Rev. (St. Edwards University), 5.125%, 2036 |
115,000 | 77,053 | ||||
| Tulsa, OK, Tulsa Industrial Authority Rev. (University of Tulsa), 6%, 2027 |
535,000 | 548,445 | ||||
| University of Minnesota, “A”, ETM, 5.75%, 2014 (c) |
500,000 | 589,815 | ||||
| University of Minnesota, “A”, ETM, 5.5%, 2021 (c) |
2,000,000 | 2,297,020 | ||||
| University of Southern Indiana Rev., Student Fee, “J”, ASSD GTY, 5.75%, 2028 |
210,000 | 219,643 | ||||
| University of Southern Mississippi Educational Building Corp. (Campus Facilities Project), 5.25%, 2032 |
225,000 | 220,536 | ||||
| University of Southern Mississippi Educational Building Corp. (Campus Facilities Project), 5.375%, 2036 |
65,000 | 64,036 | ||||
| $ | 28,152,022 | |||||
| Universities - Dormitories – 0.6% |
||||||
| California Statewide Communities Development Authority Rev. (Lancer Educational Student Housing Project), 5.625%, 2033 |
$ | 500,000 | $ | 300,800 | ||
9
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | ||||
| Municipal Bonds – continued |
||||||
| Universities - Dormitories – continued |
||||||
| California Statewide Communities Development Authority Rev. (Student Housing, SUCI East Campus), 6%, 2040 |
$ | 220,000 | $ | 159,533 | ||
| Maryland Economic Development Corp. Student Housing (University of Maryland - College Park), 5.875%, 2043 |
130,000 | 90,570 | ||||
| $ | 550,903 | |||||
| Universities - Secondary Schools – 0.2% |
||||||
| Colorado Educational & Cultural Facilities Authority Rev. (Charter School), 5.625%, 2040 |
$ | 230,000 | $ | 167,619 | ||
| Utilities - Cogeneration – 1.1% |
||||||
| Pennsylvania Economic Development Financing Authority Rev., Resource Recovery Rev. (Colver), “G”, 5.125%, 2015 |
$ | 375,000 | $ | 298,744 | ||
| Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Central Facilities (Cogeneration Facilities - AES Puerto Rico Project), 6.625%, 2026 |
320,000 | 286,019 | ||||
| Suffolk County, NY, Industrial Development Agency Rev. (Nissequoque Cogeneration Partners Facilities), 5.5%, 2023 |
550,000 | 420,926 | ||||
| $ | 1,005,689 | |||||
| Utilities - Investor Owned – 8.8% |
||||||
| Brazos River Authority, TX, Pollution Control Rev. (Texas Utility Co.), “A”, 7.7%, 2033 |
$ | 250,000 | $ | 109,408 | ||
| Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), “C”, 5.75%, 2036 (a) |
100,000 | 68,422 | ||||
| Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), “C”, 6.75%, 2038 |
270,000 | 118,049 | ||||
| Clark County, NV, Industrial Development Rev. (Nevada Power Co. Project), “A”, 5.9%, 2032 |
250,000 | 174,950 | ||||
| Clark County, NV, Industrial Development Rev. (Nevada Power Co. Project), “B”, 5.9%, 2030 |
250,000 | 177,485 | ||||
| Clark County, NV, Industrial Development Rev. (Southwest Gas Corp. Project), “E”, 5.8%, 2038 (a) |
250,000 | 235,405 | ||||
| Matagorda County, TX, Navigation District 1 (Houston Lighting.), AMBAC, 5.125%, 2028 |
2,000,000 | 1,523,820 | ||||
| Michigan Strategic Fund, Ltd. Obligation Rev. (Detroit Edison), “A”, MBIA, 5.55%, 2029 |
3,000,000 | 2,438,700 | ||||
| Mississippi Business Finance Corp., Pollution Control Rev. (Systems Energy Resources Project), 5.875%, 2022 |
1,000,000 | 849,710 | ||||
| New Hampshire Business Finance Authority, Pollution Control Rev. (Public Service of New Hampshire), “B”, MBIA, 4.75%, 2021 |
250,000 | 192,420 | ||||
| Petersburg, IN, Pollution Control Rev. (Indianapolis Power & Light), MBIA, 5.4%, 2017 |
2,500,000 | 2,509,925 | ||||
| $ | 8,398,294 | |||||
| Utilities - Other – 2.6% |
||||||
| Main Street Natural Gas, Inc., GA, Gas Project Rev., “A”, 5.5%, 2026 |
$ | 120,000 | $ | 88,206 | ||
| Main Street Natural Gas, Inc., GA, Gas Project Rev., “A”, 5.5%, 2028 |
250,000 | 178,315 | ||||
| Public Authority for Colorado Energy Natural Gas Purchase Rev., 6.5%, 2038 |
215,000 | 174,455 | ||||
| Salt Verde Financial Corp., AZ, Senior Gas Rev., 5%, 2032 |
795,000 | 521,496 | ||||
| Salt Verde Financial Corp., AZ, Senior Gas Rev., 5%, 2037 |
790,000 | 501,453 | ||||
| Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2017 |
180,000 | 144,124 | ||||
| Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2022 |
205,000 | 148,918 | ||||
| Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2023 |
300,000 | 214,059 | ||||
| Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2026 |
610,000 | 415,715 | ||||
| Tennessee Energy Acquisition Corp., Gas Rev., “C”, 5%, 2025 |
185,000 | 124,762 | ||||
| $ | 2,511,503 | |||||
| Water & Sewer Utility Revenue – 2.3% |
||||||
| Hampton Roads, VA, Sanitation District Wastewater Rev., 5%, 2033 |
$ | 140,000 | $ | 140,704 | ||
| Massachusetts Water Pollution Abatement, 5.25%, 2028 |
750,000 | 800,130 | ||||
| Massachusetts Water Resources Authority, “B”, FSA, 5.25%, 2029 |
600,000 | 624,504 | ||||
| Puerto Rico Aqueduct & Sewer Authority Rev., “A”, 6%, 2038 |
505,000 | 459,424 | ||||
10
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Issuer |
Shares/Par | Value ($) | |||||
| Municipal Bonds – continued |
|||||||
| Water & Sewer Utility Revenue – continued |
|||||||
| Puerto Rico Aqueduct & Sewer Authority Rev., “A”, 6%, 2044 |
$ | 195,000 | $ | 174,420 | |||
| $ | 2,199,182 | ||||||
| Total Municipal Bonds |
$ | 147,811,531 | |||||
| Money Market Funds (v) – 1.2% |
|||||||
| MFS Institutional Money Market Portfolio, 0.44%, at Net Asset Value |
1,158,509 | $ | 1,158,509 | ||||
| Floating Rate Demand Notes – 1.5% |
|||||||
| Lincoln County, WY, Pollution Control Rev. (Exxon Mobil Corp.), 0.1%, due 3/02/09 |
$ | 500,000 | $ | 500,000 | |||
| Lincoln County, WY, Pollution Control Rev. (Exxon Mobil Corp.), “C”, 0.22%, due 3/02/09 |
900,000 | 900,000 | |||||
| Total Floating Rate Demand Notes |
$ | 1,400,000 | |||||
| Total Investments |
$ | 150,370,040 | |||||
| Other Assets, Less Liabilities – (6.2)% |
(5,958,275 | ) | |||||
| Preferred shares (issued by the fund) – (51.0)% |
(48,750,000 | ) | |||||
| Net assets applicable to common shares – 100.0% |
$ | 95,661,765 | |||||
| (a) | Mandatory tender date is earlier than stated maturity date. |
| (b) | Non-income producing security. |
| (c) | Refunded bond. |
| (f) | All or a portion of the security has been segregated as collateral for open futures contracts. |
| (j) | Crossover refunded bond. |
| (n) | Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. At period end, the aggregate value of these securities was $1,193,258 representing 1.2% of net assets applicable to common shares. |
| (u) | Underlying security deposited into special purpose trust (“the trust”) by investment banker upon creation of self-deposited inverse floaters. |
| (v) | Underlying fund that is available only to investment companies managed by MFS. The rate quoted is the annualized seven-day yield of the fund at period end. |
| (z) | Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. The fund holds the following restricted securities: |
| Restricted Securities |
Acquisition Date |
Cost | Current Market Value |
||||||
| Cabazon Band Mission Indians, CA, 8.375%, 2015 |
10/04/04 | $ | 100,000 | $ | 92,265 | ||||
| Cabazon Band Mission Indians, CA, 8.75%, 2019 |
10/04/04 | 360,000 | 326,624 | ||||||
| MuniMae TE Bond Subsidiary LLC, 5.5%, 2049 |
11/02/05 | 1,000,000 | 710,060 | ||||||
| Resolution Trust Corp., Pass-Through Certificates, “1993”, 8.5%, 2016 |
8/27/93 | 232,276 | 208,815 | ||||||
| Total Restricted Securities |
$ | 1,337,764 | |||||||
| % of Net Assets applicable to common shares |
1.4 | % | |||||||
The following abbreviations are used in this report and are defined:
| COP |
Certificate of Participation | |
| ETM |
Escrowed to Maturity | |
| LOC |
Letter of Credit |
| Insurers |
||
| AMBAC | AMBAC Indemnity Corp. | |
| ASSD GTY | Assured Guaranty Insurance Co. | |
| BHAC | Berkshire Hathaway Assurance Corp. | |
| CHCLI | California Health Construction Loan Insurance | |
| FGIC | Financial Guaranty Insurance Co. | |
| FHA | Federal Housing Administration | |
| FHLMC | Federal Home Loan Mortgage Corp. | |
| FSA | Financial Security Assurance Inc. | |
| GNMA | Government National Mortgage Assn. | |
| MBIA | MBIA Insurance Corp. |
11
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/28/09 - continued
| Insurers - continued |
||
| RADIAN | Radian Asset Assurance, Inc. | |
| XLCA | XL Capital Insurance Co. |
See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.
12
MFS Investment Grade Municipal Trust
Supplemental Information (Unaudited) 2/28/09
(1) Fair Value Disclosure
The fund adopted FASB Statement No. 157, Fair Value Measurements (the “Statement”). This Statement provides a single definition of fair value, a hierarchy for measuring fair value and expanded disclosures about fair value measurements.
Various inputs are used in determining the value of the fund’s assets or liabilities carried at market value. These inputs are categorized into three broad levels. Level 1 includes quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk). Level 3 includes unobservable inputs, which may include the adviser’s own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments not reflected in total investments, such as futures, forwards, swap contracts, and written options. The following is a summary of the levels used as of February 28, 2009, in valuing the fund’s assets or liabilities carried at market value:
| Level 1 | Level 2 | Level 3 | Total | |||||||||
| Investments in Securities |
$ | 1,158,509 | $ | 149,211,531 | $ | — | $ | 150,370,040 | ||||
| Other Financial Instruments |
$ | 346,828 | $ | — | $ | — | $ | 346,828 | ||||
(2) Portfolio Securities
The cost and unrealized appreciation and depreciation in the value of the investments owned by the fund, as computed on a federal income tax basis, are as follows:
| Aggregate Cost |
$ | 154,472,470 | ||
| Gross unrealized appreciation |
$ | 5,096,265 | ||
| Gross unrealized depreciation |
(16,698,695 | ) | ||
| Net unrealized appreciation (depreciation) |
$ | (11,602,430 | ) | |
The aggregate cost above includes prior fiscal year end tax adjustments.
(3) Derivative Contracts at 2/28/09
Futures contracts outstanding at 2/28/09
| Description |
Contracts | Value | Expiration Date |
Unrealized Appreciation (Depreciation) | ||||||
| U.S. Treasury Note 10 yr (Short) |
128 | $ | 15,364,000 | Jun-09 | $ | 168,552 | ||||
| U.S. Treasury Bond 30 yr (Short) |
53 | 6,537,219 | Jun-09 | 178,276 | ||||||
| $ | 346,828 | |||||||||
At February 28, 2009, the fund had sufficient cash and/or other liquid securities to cover any commitments under these derivative contracts.
(4) Transactions in Underlying Funds-Affiliated Issuers
An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the fund assumes the following to be affiliated issuers:
| Underlying Funds |
Beginning Shares/Par Amount |
Acquisitions Shares/Par Amount |
Dispositions Shares/Par Amount |
Ending Shares/Par Amount | |||||||||
| MFS Institutional Money Market Portfolio |
— | 3,002,457 | (1,843,948 | ) | 1,158,509 | ||||||||
| Underlying Funds |
Realized Gain (Loss) |
Capital Gain Distributions |
Dividend Income |
Ending Value | |||||||||
| MFS Institutional Money Market Portfolio |
$ | — | $ | — | $ | 341 | $ | 1,158,509 | |||||
13
| ITEM 2. | CONTROLS AND PROCEDURES. |
| (a) | Based upon their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as conducted within 90 days of the filing date of this Form N-Q, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms. |
| (b) | There were no changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) 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 Act (17 CFR 270.30a-2): Attached hereto.
Notice
A copy of the Agreement and Declaration of Trust, as amended, of the Registrant is on file with the Secretary of State of The Commonwealth of Massachusetts and notice is hereby given that this instrument is executed on behalf of the Registrant by an officer of the Registrant as an officer and not individually and the obligations of or arising out of this instrument are not binding upon any of the Trustees or shareholders individually, but are binding only upon the assets and property of the respective constituent series of the Registrant.
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: MFS INVESTMENT GRADE MUNICIPAL TRUST
| By (Signature and Title)* | MARIA F. DWYER | |
| Maria F. Dwyer, President |
Date: April 20, 2009
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)* | MARIA F. DWYER | |
| Maria F. Dwyer, President (Principal Executive Officer) |
Date: April 20, 2009
| By (Signature and Title)* | JOHN M. CORCORAN | |
| John M. Corcoran, Treasurer (Principal Financial Officer and Accounting Officer) |
Date: April 20, 2009
| * | Print name and title of each signing officer under his or her signature. |