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)
Registrants telephone number, including area code: (617) 954-5000
Date of fiscal year end: November 30
Date of reporting period: February 29, 2008
ITEM 1. | SCHEDULE OF INVESTMENTS. |
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds 151.7% |
||||||
Airport & Port Revenue 3.1% |
||||||
Massachusetts Port Authority Rev., FGIC, 5.75%, 2010 (c)(u) |
$ | 2,000,000 | $ | 2,123,760 | ||
New York, NY, City Industrial Development Authority Rev. (Terminal One Group Assn.), 5.5%, 2021 |
250,000 | 247,713 | ||||
Port Authority of NY & NJ, Special Obligation Rev. (JFK International Airport Terminal- 6), MBIA, 6.25%, 2008 |
1,000,000 | 1,018,350 | ||||
$ | 3,389,823 | |||||
General Obligations - General Purpose 8.5% |
||||||
Chicago, IL (Emergency Telecommunications Systems), FGIC, 5.5%, 2023 |
$ | 1,000,000 | $ | 1,031,700 | ||
Chicago, IL, A, AMBAC, 6.25%, 2014 |
1,480,000 | 1,663,594 | ||||
Commonwealth of Puerto Rico, Public Improvement, FSA, 5.5%, 2017 |
1,000,000 | 1,080,930 | ||||
Commonwealth of Puerto Rico, Public Improvement, A, 5%, 2030 (a) |
415,000 | 424,188 | ||||
Commonwealth of Massachusetts, C, 5.25%, 2017 |
1,000,000 | 1,079,240 | ||||
Highlands Ranch, CO, Metropolitan District, FSA, 6.5%, 2011 |
650,000 | 716,846 | ||||
Highlands Ranch, CO, Metropolitan District, ETM, FSA, 6.5%, 2011 (c) |
725,000 | 800,748 | ||||
New York, NY, Prerefunded, J, 5.5%, 2013 (c) |
145,000 | 159,858 | ||||
New York, NY, Unrefunded Balance, J, 5.5%, 2018 |
355,000 | 371,884 | ||||
Puerto Rico Infrastructure Financing Authority, B, 5%, 2026 |
750,000 | 684,173 | ||||
St. Clair County, IL, Capital Appreciation, FGIC, 0%, 2016 (f) |
2,000,000 | 1,346,380 | ||||
State of California, 5.75%, 2019 |
70,000 | 70,465 | ||||
$ | 9,430,006 | |||||
General Obligations - Improvement 2.1% |
||||||
Massachusetts Bay Transportation Authority Sales Tax Rev., 5%, 2031 |
$ | 750,000 | $ | 729,810 | ||
St. Clair County, IL, Public Building Capital Appreciation, B, FGIC, 0%, 2013 |
2,000,000 | 1,581,780 | ||||
$ | 2,311,590 | |||||
General Obligations - Schools 4.7% |
||||||
Garden City, MI, School District, 5.5%, 2011 (c) |
$ | 325,000 | $ | 348,465 | ||
Modesto, CA, High School District (Stanilaus County), A, FGIC, 0%, 2019 |
1,350,000 | 742,581 | ||||
Pomona, CA, Unified School District, A, MBIA, 6.45%, 2022 |
1,000,000 | 1,065,760 | ||||
St. Johns, MI, Public Schools, FGIC, 5.1%, 2025 |
1,000,000 | 1,010,530 | ||||
West Contra Costa, CA, Unified School District, B, MBIA, 6%, 2024 |
250,000 | 267,310 | ||||
Will County, IL, School District (Channahon), AMBAC, 8.5%, 2015 |
1,400,000 | 1,797,306 | ||||
$ | 5,231,952 | |||||
Healthcare Revenue - Hospitals 25.9% |
||||||
Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), A, 5.375%, 2040 |
$ | 405,000 | $ | 332,780 | ||
Augusta County, VA, Industrial Development Authority (Augusta Health Care, Inc.), 5.25%, 2019 |
1,000,000 | 1,025,160 | ||||
California Health Facilities Financing Authority Rev. (Catholic Healthcare West), I, 4.95%, 2026 (a) |
200,000 | 205,668 | ||||
Cass County, MO, Hospital Rev., 5.625%, 2038 |
135,000 | 122,248 | ||||
Colorado Health Facilities Authority Rev. (Parkview Medical Center), 5%, 2025 |
250,000 | 225,723 | ||||
Delaware Health Facilities Authority Rev. (Beebe Medical Center Project), A, 5%, 2016 |
500,000 | 501,555 | ||||
Glendale, AZ, Industrial Development Authority (John C. Lincoln Health), 5%, 2042 |
155,000 | 127,827 | ||||
Gwinnett County, GA, Hospital Authority Rev. (Gwinnett Hospital Systems), FSA, 8%, 2042 |
1,300,000 | 1,300,000 | ||||
Health Care Authority for Baptist Health, AL, D, 5%, 2021 |
850,000 | 803,327 | ||||
Henderson, NV, Health Care Facilities Rev. (Catholic West), A, 6.75%, 2010 (c) |
440,000 | 480,691 | ||||
Henderson, NV, Health Care Facilities Rev. (Catholic West), A, 6.75%, 2010 (c) |
60,000 | 65,036 | ||||
Hillsborough County, FL, Industrial Development Rev. (Tampa General Hospital Project), 5%, 2021 |
400,000 | 378,156 | ||||
Illinois Development Finance Authority Hospital Rev. (Adventist Health Systems Sunbelt Obligatory), 5.5%, 2009 (c) |
900,000 | 950,490 |
1
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Healthcare Revenue - Hospitals continued |
||||||
Illinois Health Facilities Authority Rev. (Swedish American Hospital), 6.875%, 2010 (c) |
$ | 500,000 | $ | 540,640 | ||
Indiana Health & Educational Facilities Authority, Hospital Rev. (Community Foundation of Northwest Indiana), 5.5%, 2037 |
845,000 | 729,472 | ||||
Indiana Health & Educational Facilities Financing Authority Rev. (Jackson County Schneck Memorial Hospital), A, 5.25%, 2036 |
350,000 | 311,647 | ||||
Indiana Health Facilities Financing Authority Rev. (Community Foundation of Northwest Indiana ), A, 6%, 2034 |
150,000 | 139,940 | ||||
Knox County, TN, Health, Educational & Housing Facilities Board, Hospital Rev. (Covenant Health), B-2, FRN, 6.75%, 2046 |
575,000 | 575,000 | ||||
Louisiana Public Facilities Authority Hospital Rev. (Lake Charles Memorial Hospital), 6.375%, 2034 |
380,000 | 356,451 | ||||
Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2032 |
45,000 | 40,784 | ||||
Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2037 |
45,000 | 40,288 | ||||
Maryland Health & Higher Educational Facilites Authority Rev. (Washington County Hospital), 6%, 2043 |
95,000 | 88,347 | ||||
Maryland Health & Higher Educational Facilities Authority Rev. ( Washington County Hospital), 5.75%, 2038 |
195,000 | 178,926 | ||||
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), A, 5%, 2016 |
250,000 | 250,358 | ||||
Maryland Health & Higher Educational Facilities Authority Rev. (Adventist Healthcare), A, 5.75%, 2025 |
250,000 | 247,850 | ||||
Maryland Health & Higher Educational Facilities Authority Rev. (Lifebridge Health), ASSD GTY, 5%, 2034 |
250,000 | 231,243 | ||||
Maryland Health & Higher Educational Facilities Authority Rev. (Mercy Medical Center), A, 5.5%, 2042 |
300,000 | 271,440 | ||||
Maryland Health & Higher Educational Facilities Authority Rev. (University of Maryland Medical System), 6.75%, 2010 (c) |
250,000 | 273,908 | ||||
Massachusetts Health & Educational Facilities Authority Rev. (Civic Investments, Inc.), A, 9%, 2011 (c) |
250,000 | 300,710 | ||||
Massachusetts Health & Educational Facilities Authority Rev. (Milford-Whitinsville Regional), C, 5.75%, 2013 |
500,000 | 508,665 | ||||
Massachusetts Health & Educational Facilities Authority Rev. (South Shore Hospital), F, 5.75%, 2029 |
1,000,000 | 972,390 | ||||
Michigan Hospital Finance Authority Rev. (Oakwood Obligated Group), 5.5%, 2018 |
400,000 | 414,900 | ||||
New Hampshire Health & Educational Facilities Authority Rev. (Catholic Medical Center), A, 6.125%, 2012 (c) |
440,000 | 490,468 | ||||
New Hampshire Health & Educational Facilities Authority Rev. (Catholic Medical Center), A, 6.125%, 2032 |
60,000 | 60,321 | ||||
New Hampshire Health & Educational Facilities Authority Rev. (Memorial Hospital at Conway), 5.25%, 2036 |
300,000 | 253,449 | ||||
New Jersey Health Care Facilities, Financing Authority Rev. (St. Peters University Hospital), 5.75%, 2037 |
415,000 | 384,551 | ||||
New York Dormitory Authority Rev. (North Shore Long Island Jewish Group), 5.5%, 2013 (c) |
100,000 | 109,355 | ||||
New York Dormitory Authority Rev., Non State Supported Debt (Mt. Sinai NYU Health), 5.5%, 2026 |
200,000 | 200,716 | ||||
New York Dormitory Authority Rev., Non State Supported Debt (Mt. Sinai NYU Health), C, 5.5%, 2026 |
300,000 | 301,074 | ||||
Orange County, FL, Health Facilities Authority Rev. (Orlando Regional Healthcare), 5.75%, 2012 (c) |
150,000 | 163,859 | ||||
Orange County, FL, Health Facilities Authority Rev. (Orlando Regional Healthcare), C, MBIA, 6.25%, 2013 |
720,000 | 806,278 |
2
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Healthcare Revenue - Hospitals continued |
||||||
Orange County, FL, Health Facilities Authority Rev. (Orlando Regional Healthcare), C, ETM, 6.25%, 2013 (c) |
$ | 1,740,000 | $ | 1,969,001 | ||
Orange County, FL, Health Facilities Authority Rev. (Orlando Regional Healthcare), E, 6%, 2009 (c) |
5,000 | 5,291 | ||||
Orange County, FL, Health Facilities Authority Rev. (Orlando Regional Healthcare), E, 6%, 2026 |
170,000 | 174,106 | ||||
Philadelphia, PA, Hospitals & Higher Education Facilities Authority Rev. (Temple University Hospital), A, 5.5%, 2030 |
395,000 | 358,680 | ||||
Rhode Island Health & Educational Building Corp., Hospital Financing (Lifespan Obligated Group), 6.375%, 2012 (c) |
435,000 | 487,766 | ||||
Rhode Island Health & Educational Building Corp., Hospital Financing (Lifespan Obligated Group), 6.375%, 2021 |
65,000 | 68,600 | ||||
Saline County, MO, Industrial Development Authority Rev. (John Fitzgibbon Memorial Hospital, Inc.), 5.625%, 2035 |
500,000 | 439,250 | ||||
Skagit County, WA, Public Hospital District No. 001, 5.75%, 2032 |
65,000 | 60,083 | ||||
South Broward, FL, Hospital District Rev., 5.625%, 2012 (c) |
1,000,000 | 1,093,380 | ||||
South Carolina Jobs Economic Development Authority (Bon Secours - Venice Healthcare Corp.), 5.5%, 2012 (c) |
110,000 | 119,889 | ||||
South Carolina Jobs Economic Development Authority (Bon Secours - Venice Healthcare Corp.), 5.5%, 2023 |
390,000 | 392,851 | ||||
South Dakota Health & Educational Facilities Authority Rev. (Sioux Valley Hospitals & Health Systems), A, 5.25%, 2034 |
250,000 | 226,543 | ||||
Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.375%, 2015 |
380,000 | 382,060 | ||||
Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.125%, 2036 |
1,000,000 | 841,940 | ||||
St. Paul, MN, Housing & Redevelopment Authority Healthcare Facilities Rev. (Healthpartners Obligations Group), 5.25%, 2023 |
325,000 | 312,471 | ||||
St. Paul, MN, Housing & Redevelopment Authority Hospital Rev. (Healtheast), 5.15%, 2020 |
250,000 | 232,965 | ||||
St. Paul, MN, Housing & Redevelopment Authority Hospital Rev. (Healtheast), A, 5.7%, 2015 |
250,000 | 251,663 | ||||
St. Paul, MN, Port Authority Lease Rev. (Regions Hospital), 1, 5%, 2036 |
675,000 | 527,911 | ||||
Sullivan County, TN, Health Educational & Housing Facilities Board Hospital Rev. (Wellmont Health Systems Project), C, 5.25%, 2026 |
1,000,000 | 934,890 | ||||
Sumner County, TN, Health, Educational & Housing Facilities Board Rev. (Sumner Regional Health), A, 5.5%, 2046 |
1,000,000 | 879,280 | ||||
Turlock, CA, Health Facilities Rev. (Emanuel Medical Center), 5.375%, 2034 |
500,000 | 438,965 | ||||
Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), A, 5.25%, 2032 |
265,000 | 225,981 | ||||
Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), A, 5.375%, 2037 |
220,000 | 188,124 | ||||
University of Kansas Hospital Authority Health Facilities Rev. (KU Health Systems), 5.625%, 2012 (c) |
500,000 | 545,735 | ||||
Washington Health Care Facilities Authority Rev. (Mason Medical), A, 6.25%, 2042 |
570,000 | 539,288 | ||||
Wisconsin Health & Educational Facilities Authority Rev. (Aurora Health Care, Inc.), 6.4%, 2033 |
175,000 | 175,135 | ||||
Wisconsin Health & Educational Facilities Authority Rev. (Fort Healthcare, Inc. Project), 5.375%, 2018 |
385,000 | 386,070 | ||||
Wisconsin Health & Educational Facilities Authority Rev. (Wheaton Franciscan Services), 5.25%, 2034 |
695,000 | 571,346 | ||||
$ | 28,590,955 | |||||
Healthcare Revenue - Long Term Care 12.2% |
||||||
Abilene, TX, Health Facilities Development Corp., Retirement Facilities Rev. (Sears Methodist Retirement), A, 7%, 2033 |
$ | 500,000 | $ | 502,840 | ||
Bexar County, TX, Health Facilities Development Corp. (Army Retirement Residence), 5%, 2033 |
760,000 | 637,389 |
3
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Healthcare Revenue - Long Term Care continued |
||||||
Bucks County, PA, Industrial Development Authority, Retirement Community Rev. (Anns Choice, Inc.), 6.125%, 2025 |
$ | 500,000 | $ | 468,325 | ||
Capital Projects Finance Authority, FL (Glenridge on Palmer Ranch), A, 8%, 2012 (c) |
500,000 | 589,865 | ||||
Chartiers Valley, PA, Industrial & Commercial Development Authority Rev. (Friendship Village South), A, 5.25%, 2013 |
500,000 | 487,525 | ||||
Chester County, PA, Industrial Development Authority Rev. (RHA Nursing Home), 8.5%, 2032 |
730,000 | 735,672 | ||||
Cole County, MO, Industrial Development Authority, Senior Living Facilities Rev. (Lutheran Senior Services), 5.5%, 2035 |
500,000 | 455,650 | ||||
Colorado Health Facilities Authority Rev. (Covenant Retirement Communities, Inc.), 5%, 2016 |
860,000 | 842,654 | ||||
Connecticut Development Authority First Mortgage Gross Rev., Health Care Project (The Elim Park Baptist, Inc. Project), 5.75%, 2023 |
250,000 | 246,668 | ||||
Delaware County, PA, Industrial Development Authority Rev. (Care Institute-Main Line LLC), 9%, 2031 (d) |
535,000 | 386,431 | ||||
Delaware Economic Development Authority Healthcare Facilities Rev. (Churchman Village Project), A, 10%, 2021 |
780,000 | 766,147 | ||||
Fulton County, GA, Residential Care Facilities (Canterbury Court), A, 6.125%, 2034 |
250,000 | 228,138 | ||||
Fulton County, GA, Residential Care Facilities, First Mortgage (Lenbrook Square Foundation, Inc.), A, 5%, 2029 |
270,000 | 212,371 | ||||
Illinois Finance Authority Rev. (Hoosier Care, Inc.), A, 7.125%, 2034 |
445,000 | 421,526 | ||||
Illinois Finance Authority Rev. (Smith Village), A, 6.25%, 2035 |
500,000 | 448,745 | ||||
Illinois Health Facilities Authority Rev. (Lutheran Senior Ministries, Inc.), 7.375%, 2011 (c) |
250,000 | 284,965 | ||||
Illinois Health Facilities Authority Rev. (Smith Crossing), A, 7%, 2032 |
250,000 | 250,778 | ||||
Johnson City, TN, Health & Educational Facilities Board (Appalachian Christian Village), A, 6.25%, 2032 |
250,000 | 229,440 | ||||
Juneau, AK, City & Boro Non-recourse Rev. (St. Anns Care Project), 6.875%, 2025 |
455,000 | 426,858 | ||||
Kentwood, MI, Economic Development Ltd. (Holland Home), A, 5.375%, 2036 |
500,000 | 425,505 | ||||
La Verne, CA, COP (Brethren Hillcrest Homes), B, 6.625%, 2025 |
350,000 | 356,892 | ||||
Lee County, FL, Industrial Development Authority Health Care Facilities Rev. (Shell Point Village), A, 5.5%, 2009 (c) |
175,000 | 184,667 | ||||
Massachusetts Development Finance Agency Rev. (Loomis Communities, Inc.), A, 5.625%, 2015 |
200,000 | 200,218 | ||||
Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.125%, 2028 |
200,000 | 184,762 | ||||
Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.25%, 2035 |
300,000 | 273,891 | ||||
New Jersey Economic Development Authority Rev. (Lions Gate), A, 5.75%, 2025 |
310,000 | 280,516 | ||||
New Jersey Economic Development Authority Rev. (Lions Gate), A, 5.875%, 2037 |
100,000 | 86,902 | ||||
New Jersey Economic Development Authority Rev., First Mortgage (Winchester), A, 5.75%, 2024 |
350,000 | 332,014 | ||||
Savannah, GA, Economic Development Authority, First Mortgage (Marshes of Skidway), A, 7.4%, 2024 |
250,000 | 253,808 | ||||
Shelby County, TN, Health, Educational & Housing Facilities Board Rev. (Germantown Village), A, 7.25%, 2034 |
150,000 | 140,606 | ||||
South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Wesley Commons), 5.3%, 2036 |
250,000 | 196,755 | ||||
Suffolk County, NY, Industrial Development Agency, Civic Facilities Rev. (Gurwin Jewish Phase II), 6.7%, 2039 |
500,000 | 489,705 | ||||
Suffolk, VA, Industrial Development Authority, Retirement Facilities Rev. (Lake Prince Center, Inc.), 5.3%, 2031 |
250,000 | 211,208 | ||||
Tarrant County, TX, Cultural Education Facilities Finance Corp. (Edgemere Project), A, 6%, 2036 |
250,000 | 225,978 |
4
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Healthcare Revenue - Long Term Care continued |
||||||
Westminster, MD, Economic Development Rev. (Carroll Lutheran Village), A, 5.875%, 2021 |
$ | 500,000 | $ | 481,570 | ||
Winchester, VA, Industrial Development Authority Rev., Residential Care Facilities (Westminster-Canterbury), A, 5.3%, 2035 |
250,000 | 211,288 | ||||
Wisconsin Health & Educational Facilities Authority Rev. (Three Pillars Senior Communities), 5.6%, 2023 |
300,000 | 293,322 | ||||
$ | 13,451,594 | |||||
Human Services 0.2% |
||||||
Massachusetts Development Finance Agency Rev. (Evergreen Center, Inc.), 5%, 2024 |
$ | 250,000 | $ | 217,045 | ||
Industrial Revenue - Airlines 0.9% |
||||||
Charlotte, NC, Douglas International Airport Special Facilities Rev. (U.S. Airways, Inc.), 7.75%, 2028 |
$ | 500,000 | $ | 509,655 | ||
New Jersey Economic Development Authority, Special Facilities Rev. (Continental Airlines, Inc.), 6.25%, 2019 |
500,000 | 461,730 | ||||
$ | 971,385 | |||||
Industrial Revenue - Chemicals 0.4% |
||||||
Brazos River, TX, Harbor Navigation District (Dow Chemical Co.), B-2, 4.95%, 2033 |
$ | 500,000 | $ | 431,605 | ||
Industrial Revenue - Environmental Services 0.4% |
||||||
Ohio Solid Waste Rev. (Republic Services, Inc.), 4.25%, 2033 (a) |
$ | 500,000 | $ | 482,075 | ||
Industrial Revenue - Other 3.5% |
||||||
Gulf Coast, TX, Industrial Development Authority Rev. (CITGO Petroleum Corp.), 8%, 2028 |
$ | 250,000 | $ | 262,938 | ||
Houston, TX, Industrial Development Corp. (United Parcel Service, Inc.), 6%, 2023 |
345,000 | 330,858 | ||||
Indianapolis, IN, Airport Authority Rev., Special Facilities (FedEx Corp.), 5.1%, 2017 |
250,000 | 245,273 | ||||
Michigan Strategic Funding Ltd. Obligatory Rev. (Michigan Sugar Comp. Carrollton), 6.55%, 2025 |
250,000 | 240,625 | ||||
Missouri Development Finance Board Solid Waste Disposal Rev. (Procter & Gamble Paper Products), 5.2%, 2029 |
250,000 | 239,215 | ||||
New Jersey Economic Development Authority Rev. (GMT Realty LLC), B, 6.875%, 2037 |
500,000 | 485,015 | ||||
Toledo Lucas County, OH, Authority Port Rev., Facilities (CSX, Inc. Project), 6.45%, 2021 |
1,000,000 | 1,037,860 | ||||
Washington County, NE, Wastewater Facilities Rev. (Cargill, Inc. Project), 5.9%, 2027 |
1,000,000 | 1,013,320 | ||||
$ | 3,855,104 | |||||
Industrial Revenue - Paper 1.4% |
||||||
Camden, AL, Industrial Development Board Exempt Facilities Rev., B (Weyerhaeuser Co.), 6.375%, 2024 |
$ | 275,000 | $ | 282,865 | ||
Camden, AR, Environmental Improvement Rev. (International Paper Co.), A, 5%, 2018 |
500,000 | 453,055 | ||||
Escambia County, FL, Environmental Import Rev. (International Paper Co.), 5.75%, 2027 |
250,000 | 222,073 | ||||
Lowndes County, MS, Solid Waste Disposal & Pollution Control Rev. (Weyerhaeuser Co.), B, 6.7%, 2022 |
325,000 | 340,090 | ||||
Rockdale County, GA, Development Authority Project Rev. (Visy Paper Project), A, 6.125%, 2034 |
320,000 | 284,646 | ||||
$ | 1,582,729 | |||||
Miscellaneous Revenue - Entertainment & Tourism 0.9% |
||||||
Cabazon Band Mission Indians, CA, 8.375%, 2015 (z) |
$ | 100,000 | $ | 103,082 | ||
Cabazon Band Mission Indians, CA, 8.75%, 2019 (z) |
360,000 | 371,970 | ||||
Cow Creek Band Umpqua Tribe of Indians, OR, C, 5.625%, 2026 (n) |
350,000 | 311,357 |
5
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Miscellaneous Revenue - Entertainment & Tourism continued |
||||||
New York Liberty Development Corp. Rev. (National Sports Museum), A, 6.125%, 2019 |
$ | 250,000 | $ | 245,253 | ||
$ | 1,031,662 | |||||
Miscellaneous Revenue - Other 3.1% |
||||||
Boston, MA, Industrial Development Financing Authority Rev. (Crosstown Center Project), 6.5%, 2035 |
$ | 275,000 | $ | 256,737 | ||
District of Columbia Rev. (Smithsonian Institution), 5%, 2028 |
1,000,000 | 1,011,830 | ||||
Louisiana Public Facilities Authority Rev. (Pennington Medical Foundation Project), 5%, 2021 |
1,000,000 | 972,450 | ||||
New York Convention Center Operating Corp. (Yale Building), ETM, 0%, 2008 (c) |
700,000 | 695,681 | ||||
Summit County, OH, Port Authority Building Rev. (Seville Project), A, 5.1%, 2025 |
465,000 | 402,904 | ||||
V Lakes Utility District Ranking Water Systems Rev., 7%, 2037 |
85,000 | 75,948 | ||||
$ | 3,415,550 | |||||
Multi-Family Housing Revenue 8.5% |
||||||
Broward County, FL, Housing Finance Authority Rev. (Chaves Lakes Apartments Ltd.), A, 7.5%, 2040 |
$ | 500,000 | $ | 506,150 | ||
Capital Trust Agency, FL, Housing Authority Rev. (Atlantic Housing Foundation), C, 5.875%, 2028 |
375,000 | 340,905 | ||||
Charter Mac Equity Issuer Trust, 6.3%, 2019 (n) |
500,000 | 542,970 | ||||
Charter Mac Equity Issuer Trust, B, 7.6%, 2010 (a)(n) |
500,000 | 545,490 | ||||
Clay County, FL, Housing Finance Authority Rev. (Madison Commons Apartments), A, 7.45%, 2040 |
245,000 | 246,394 | ||||
District of Columbia Housing Finance Agency (Henson Ridge), 5.1%, 2037 |
500,000 | 445,580 | ||||
Durham, NC, Durham Housing Authority Rev. (Magnolia Pointe Apartments), 5.65%, 2038 (a) |
400,000 | 360,648 | ||||
GMAC Municipal Mortgage Trust, B-1, 5.6%, 2039 (a)(n) |
500,000 | 467,135 | ||||
Massachusetts Housing Finance Agency Rev., B, 5%, 2030 |
455,000 | 415,192 | ||||
Massachusetts Housing Finance Agency Rev., E, 5%, 2028 |
250,000 | 226,358 | ||||
MuniMae TE Bond Subsidiary LLC, 5.5%, 2049 (a)(n) |
1,000,000 | 1,004,870 | ||||
New Mexico Mortgage Finance Authority, Multi-Family Housing Rev. (Sun Pointe Apartments), E, FHA, 4.8%, 2040 |
500,000 | 422,465 | ||||
New York, NY, City Housing Development Corp., F-1, 4.65%, 2025 |
500,000 | 448,760 | ||||
North Carolina Medical Care Commission, Health Care Facilities Rev., A, (ARC Projects), 5.8%, 2034 |
655,000 | 648,922 | ||||
Pass-Through Certificates, 1993, 8.5%, 2016 (z) |
227,741 | 224,397 | ||||
Seattle, WA, Housing Authority Rev., Capped Fund Program (High Rise Rehab), I, FSA, 5%, 2025 |
500,000 | 456,375 | ||||
Tacoma, WA, Housing Authority Multifamily Rev. (HSG-GNMA Collateral Mortgage Loans Redwood), 5.05%, 2037 |
1,040,000 | 918,528 | ||||
White Bear Lake, MN, Multi-Family Housing Rev. (Birch Lake), A, 10.25%, 2019 |
775,000 | 767,250 | ||||
White Bear Lake, MN, Multi-Family Housing Rev. (Birch Lake), B, 0%, 2019 |
660,000 | 343,200 | ||||
$ | 9,331,589 | |||||
Sales & Excise Tax Revenue 4.0% |
||||||
Bolingbrook, IL, Sales Tax Rev., 0% to 2008, 6.25% to 2024 |
$ | 250,000 | $ | 248,485 | ||
New York Local Government Assistance Corp., E, 5%, 2021 |
3,000,000 | 3,092,340 | ||||
Tampa, FL, Sports Authority Rev. (Sales Tax-Tampa Bay Arena), MBIA, 5.75%, 2025 |
1,000,000 | 1,091,150 | ||||
$ | 4,431,975 | |||||
Single Family Housing - Local 0.8% |
||||||
Chicago, IL, Single Family Mortgage Rev., A, GNMA, 7.15%, 2031 |
$ | 15,000 | $ | 15,095 | ||
Minneapolis & St. Paul Housing Authority Rev. (City Living), A-2, GNMA, 5%, 2038 |
492,796 | 432,596 | ||||
Pittsburgh, PA, Urban Redevelopment Authority Rev., C, GNMA, 4.8%, 2028 |
500,000 | 449,195 | ||||
$ | 896,886 | |||||
6
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Single Family Housing - State 2.4% |
||||||
Colorado Housing & Finance Authority Rev. (Single Family Project), B-2, 7.25%, 2031 |
$ | 55,000 | $ | 58,170 | ||
Maine Housing Authority Mortgage, A-2, 4.95%, 2027 |
500,000 | 444,720 | ||||
Montana Board Housing (Single Family Mortgage), A, 5%, 2036 |
895,000 | 784,101 | ||||
North Dakota Housing Finance Agency Rev., A, 4.85%, 2021 |
500,000 | 460,410 | ||||
Tennessee Housing Development Agency (Homeownership Program 2007), 4.65%, 2027 |
1,000,000 | 865,480 | ||||
$ | 2,612,881 | |||||
Solid Waste Revenue 2.0% |
||||||
Delaware County, PA, Industrial Development Authority Rev. (American Ref-Fuel), A, 6.1%, 2013 |
$ | 1,000,000 | $ | 1,003,480 | ||
Massachusetts Industrial Finance Agency, Resource Recovery Rev. (Ogden Haverhill Associates), A, 5.45%, 2012 |
1,250,000 | 1,261,575 | ||||
$ | 2,265,055 | |||||
State & Agency - Other 0.2% |
||||||
Commonwealth of Puerto Rico (Mepsi Campus), A, 6.25%, 2024 |
$ | 100,000 | $ | 95,339 | ||
Commonwealth of Puerto Rico (Mepsi Campus), A, 6.5%, 2037 |
100,000 | 93,431 | ||||
$ | 188,770 | |||||
State & Local Agencies 17.9% |
||||||
Andover, MN, Economic Development Authority Public Facilities Lease Rev. (Andover Community Center), 5%, 2014 (j) |
$ | 355,000 | $ | 379,410 | ||
Andover, MN, Economic Development Authority Public Facilities Lease Rev. (Andover Community Center), 5%, 2019 (c) |
245,000 | 249,246 | ||||
Arizona Game & Fish Department (AGF Administration Building Project), 5%, 2026 |
900,000 | 811,350 | ||||
Berkeley County, SC, School District Installment Lease (Securing Assets for Education), 5%, 2028 |
500,000 | 440,810 | ||||
Dorchester County, SC, School District No. 2, Growth Remedy Opportunity Tax Hike, 5.25%, 2029 |
250,000 | 228,075 | ||||
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Enhanced, B, 5.5%, 2013 (c) |
500,000 | 543,715 | ||||
Hibbing, MN, Economic Development Authority Rev. (Public Project Hibbing Lease Obligations), 6.4%, 2012 |
335,000 | 335,590 | ||||
Indiana Office Building Commission Correction Facilities Program Rev. (Womens Prison), B, AMBAC, 6.25%, 2016 |
2,820,000 | 3,130,877 | ||||
Kentucky Property & Buildings Commission Rev. (Project 73), 5.5%, 2014 |
455,000 | 483,538 | ||||
Lancaster Educational Assistance Program, Inc., School District Lancaster County Project, 5%, 2026 |
550,000 | 476,911 | ||||
Laurens County, SC, School District No. 55, Installment Purchase Rev., 5.25%, 2030 |
350,000 | 301,777 | ||||
Los Angeles County, CA, Schools Regionalized Business Service Corp., Capital Appreciation Pooled Financing, A, AMBAC, 0%, 2021 |
2,135,000 | 1,005,051 | ||||
Missouri Development Finance Board Infrastructure Facilities Rev. (Eastland Center Project), A, 5%, 2021 |
570,000 | 534,637 | ||||
Montana Facilities Finance Authority Healthcare Facilities Rev. (Master Loan Program Childrens Home), B, 4.75%, 2024 |
250,000 | 226,103 | ||||
New York Dormitory Authority Rev. (City University) A, 5.75%, 2018 |
5,000,000 | 5,532,600 | ||||
New York Dormitory Authority Rev., State University Facilities, C, FSA, 5.75%, 2017 |
1,000,000 | 1,126,080 | ||||
New York Urban Development Corp. Rev. (St. Facilities), 5.6%, 2015 |
1,000,000 | 1,089,140 | ||||
Newberry, SC, Investing in Childrens Education (Newberry County School District Program), 5%, 2030 |
350,000 | 290,294 | ||||
St. Louis, MO, Industrial Development Authority Leasehold Rev. (Convention Center Hotel), AMBAC, 0%, 2018 |
300,000 | 173,598 | ||||
Utah Building Ownership Authority Lease Rev. (St. Facilities Master Lease Program), C, FSA, 5.5%, 2019 |
1,750,000 | 1,908,480 |
7
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
State & Local Agencies continued |
||||||
West Virginia Building Commission Lease Rev. (WV Regional Jail), A, AMBAC, 5.375%, 2018 |
$ | 500,000 | $ | 531,525 | ||
$ | 19,798,807 | |||||
Student Loan Revenue 2.6% |
||||||
Connecticut Higher Education Supplemental Loan Authority Rev. (Senior Family Education Loan Program), A, MBIA, 4.25%, 2019 |
$ | 1,415,000 | $ | 1,306,413 | ||
Nebhelp, Inc. Nebraska Rev. Jr., A-6, MBIA, 6.45%, 2018 |
1,500,000 | 1,543,605 | ||||
$ | 2,850,018 | |||||
Tax - Other 4.1% |
||||||
Dallas County, TX, Flood Control District, 7.25%, 2032 |
$ | 500,000 | $ | 486,125 | ||
Dona Ana County, NM, Gross Receipts Tax Rev., AMBAC, 5.5%, 2015 |
1,000,000 | 1,093,410 | ||||
Hoffman Estates, IL, Park District Debt Certificate, 5%, 2016 |
500,000 | 514,945 | ||||
New Jersey Economic Development Authority Rev. (Cigarette Tax), 5.75%, 2029 |
500,000 | 466,775 | ||||
New York, NY, Transitional Finance Authority Rev., A, 5%, 2026 |
1,960,000 | 1,924,838 | ||||
$ | 4,486,093 | |||||
Tax Assessment 6.6% |
||||||
Atlanta, GA, Tax Allocation (Eastside Project), A, 5.625%, 2016 |
$ | 400,000 | $ | 392,956 | ||
Celebration Community Development District, FL, A, 6.4%, 2034 |
235,000 | 239,876 | ||||
Chicago, IL, Tax Increment Allocation (Pilsen Redevelopment), B, 6.75%, 2022 |
610,000 | 622,328 | ||||
Coralville, IA, Urban Renewal Rev., Tax Increment, C, 5.125%, 2039 |
500,000 | 413,480 | ||||
Double Branch Community Development District, FL, A, 6.7%, 2034 |
320,000 | 326,250 | ||||
Du Page County, IL, Special Service Area (Monarch Landing Project), 5.4%, 2016 |
250,000 | 241,360 | ||||
Grand Bay at Doral Community Development, FL, B, 6%, 2017 |
405,000 | 368,728 | ||||
Heritage Harbour North Community Development District, FL, Capital Improvement Rev., 6.375%, 2038 |
140,000 | 122,910 | ||||
Huntington Beach, CA, Community Facilities District, Special Tax (Grand Coast Resort), 2000-1, 6.45%, 2031 |
300,000 | 301,644 | ||||
Lincoln, CA, Special Tax (Community Facilities District ), 2003-1, 5.55%, 2013 (c) |
445,000 | 492,361 | ||||
Lincolnshire, IL, Special Service Area No. 1 (Sedgebrook Project), 6.25%, 2034 |
225,000 | 205,828 | ||||
Magnolia Park Community Development District, FL, Special Assessment Rev., A, 6.15%, 2039 |
200,000 | 170,554 | ||||
Oakdale, CA, Public Financing Authority Tax Allocation Rev. (Central City Redevelopment Project), 5.375%, 2033 |
500,000 | 434,115 | ||||
Plano, IL, Special Service Area No. 4 (Lakewood Springs Project Unit 5-B), 6%, 2035 |
750,000 | 674,573 | ||||
Portage, IN, Economic Development Rev. (Ameriplex Project), 5%, 2027 |
105,000 | 94,545 | ||||
Riverside, MO, Tax Increment Rev. (L-385 Levee Project), 5.25%, 2020 |
500,000 | 488,555 | ||||
Seven Oaks, FL, Community Development District II Special Assessment Rev., A, 5.875%, 2035 |
475,000 | 394,008 | ||||
Seven Oaks, FL, Community Development District II Special Assessment Rev., B, 5%, 2009 |
150,000 | 146,366 | ||||
Tolomato Community Development District, FL, Special Assessment Rev., 6.65%, 2040 |
100,000 | 91,856 | ||||
Volo Village, IL, Special Service Area No. 3, Special Tax (Symphony Meadows Project), 1, 6%, 2036 |
250,000 | 214,615 | ||||
West Villages Improvement District, FL, Special Assessment Rev. (Unit of Development No. 3), 5.5%, 2037 |
500,000 | 388,950 | ||||
Westridge, FL, Community Development District, Capital Improvement Rev., 5.8%, 2037 |
500,000 | 405,335 | ||||
$ | 7,231,193 | |||||
Tobacco 4.5% |
||||||
Badger, WI, Tobacco Asset Securitization Corp., 6.375%, 2032 |
$ | 250,000 | $ | 253,963 | ||
Buckeye, OH, Tobacco Settlement Rev., Asset Backed, A-2, 5.875%, 2030 |
480,000 | 450,211 | ||||
Buckeye, OH, Tobacco Settlement Rev., Asset Backed, A-2, 6.5%, 2047 |
635,000 | 634,124 |
8
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Tobacco continued |
||||||
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., A-1, 6.25%, 2033 (c) |
$ | 750,000 | $ | 819,525 | ||
Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., A-1, 5.75%, 2047 |
750,000 | 673,208 | ||||
Inland Empire, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Asset Backed, C-1, 0%, 2036 |
250,000 | 33,280 | ||||
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Rev., Asset Backed, A, 6%, 2048 |
1,380,000 | 1,281,896 | ||||
South Carolina Tobacco Settlement Authority Rev., B, 6.375%, 2028 |
400,000 | 399,524 | ||||
Tobacco Securitization Authority of Southern California Rev., Asset Backed (San Diego Country Tobacco Asset Securitization Corp.), 0%, 2046 |
6,000,000 | 389,640 | ||||
Virginia Tobacco Settlement Financing Corp., B-1, 5%, 2047 |
105,000 | 82,964 | ||||
$ | 5,018,335 | |||||
Toll Roads 2.6% |
||||||
Foothill/Eastern Corridor Agency, CA, Toll Road Rev., A, 5%, 2035 |
$ | 1,000,000 | $ | 856,740 | ||
Northwest Parkway, CO, Public Highway Authority (First Tier), D, 7.125%, 2011 (c) |
500,000 | 564,225 | ||||
San Joaquin Hills, CA, Transportation Corridor Agency Toll Road Rev., A, MBIA, 0%, 2015 |
2,000,000 | 1,446,360 | ||||
$ | 2,867,325 | |||||
Transportation - Special Tax 1.1% |
||||||
Regional Transportation Authority IL, C,, FGIC, 7.75%, 2020 |
$ | 1,000,000 | $ | 1,264,770 | ||
Universities - Colleges 8.9% |
||||||
Broward County, FL, Educational Facilities Authority Educational Facilities (Nova Southeastern), B, 5.5%, 2024 |
$ | 155,000 | $ | 152,238 | ||
Chicago, IL, St. University Rev. Auxiliary Facilities Systems, MBIA, 5.5%, 2023 |
1,085,000 | 1,145,098 | ||||
Lubbock, TX, Educational Facilities Authority Rev. (Lubbock Christian University), 5.125%, 2027 |
285,000 | 236,068 | ||||
Lubbock, TX, Educational Facilities Authority Rev. (Lubbock Christian University), 5.25%, 2037 |
135,000 | 110,587 | ||||
Maryland Health & Higher Educational Facilities Authority Rev. (Loyola College), A, 5.125%, 2045 |
200,000 | 182,544 | ||||
Massachusetts Development Finance Agency Rev. (Western New England College), 6.125%, 2012 (c) |
315,000 | 354,060 | ||||
Metropolitan Government of Nashville & Davidson County, TN, Health & Educational Facilities Board Rev. (Meharry Medical College), AMBAC, 6%, 2016 |
1,575,000 | 1,763,811 | ||||
Missouri Health & Educational Facilities Authority Rev. (Central Institute for the Deaf), RADIAN, 5.85%, 2010 (c) |
600,000 | 631,932 | ||||
Pennsylvania Higher Educational Facilities Authority Rev. (University of Philadelphia), A, 5.125%, 2025 |
500,000 | 442,850 | ||||
Texas Tech University Rev. (Improvement Financing Systems), AMBAC, 5%, 2009 (c) |
2,000,000 | 2,046,360 | ||||
University of Minnesota, A, ETM, 5.75%, 2014 (c) |
500,000 | 560,875 | ||||
University of Minnesota, A, ETM, 5.5%, 2021 (c) |
2,000,000 | 2,166,040 | ||||
$ | 9,792,463 | |||||
Universities - Dormitories 0.9% |
||||||
California Statewide Communities Development Authority Rev. (Lancer Educational Student Housing Project), 5.625%, 2033 |
$ | 500,000 | $ | 438,650 | ||
Middlesex County, NJ, Improvement Authority (Street Student Housing Project), A, 5%, 2018 |
300,000 | 293,313 | ||||
Minneapolis, MN, Student Housing Rev. (Riverton Community Housing Project), A, 5.7%, 2040 |
250,000 | 216,785 | ||||
$ | 948,748 | |||||
9
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | ||||
Municipal Bonds continued |
||||||
Universities - Secondary Schools 0.3% |
||||||
New Hampshire Business Finance Authority Rev. (Proctor Academy Project), A, 5.4%, 2017 |
$ | 315,000 | $ | 309,806 | ||
Utilities - Cogeneration 1.5% |
||||||
Pennsylvania Economic Development Financing Authority Rev., Resources Recovery Rev. (Colver), G, 5.125%, 2015 |
$ | 425,000 | $ | 405,493 | ||
Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Central Facilities (Cogeneration Facilities - AES Puerto Rico Project), 6.625%, 2026 |
320,000 | 332,614 | ||||
Suffolk County, NY, Industrial Development Agency Rev. (Nissequoque Cogeneration Partners Facilities), 5.5%, 2023 |
550,000 | 492,811 | ||||
Western Generation Agency, OR, Cogeneration Project Rev. (Wauna Cogeneration Project), B, 5%, 2016 |
500,000 | 474,510 | ||||
$ | 1,705,428 | |||||
Utilities - Investor Owned 10.0% |
||||||
Brazos River Authority, TX, Pollution Control Rev. (Texas Utility Co.), 7.7%, 2033 |
$ | 250,000 | $ | 250,935 | ||
Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), C, 5.75%, 2036 (a) |
100,000 | 94,726 | ||||
Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), C, 6.75%, 2038 |
270,000 | 241,704 | ||||
Campbell County, WY, Pollution Control Rev. (Black Hills Power, Inc. Project), 5.35%, 2024 |
500,000 | 469,655 | ||||
Clark County, NV, Industrial Development Rev. (Nevada Power Co. Project), A, 5.9%, 2032 |
250,000 | 216,580 | ||||
Clark County, NV, Industrial Development Rev. (Nevada Power Co. Project), B, 5.9%, 2030 |
250,000 | 218,248 | ||||
Clark County, NV, Industrial Development Rev. (Southwest Gas Corp. Project), E, 5.8%, 2038 (a) |
250,000 | 254,213 | ||||
Converse County, WY, Pollution Control Rev. (PacifiCorp), 3.9%, 2014 (a) |
500,000 | 487,005 | ||||
Matagorda County, TX, Nav District 1 (Houston Ltg.), AMBAC, 5.125%, 2028 |
2,000,000 | 1,683,660 | ||||
Michigan Strategic Fund, Ltd. Obligation Rev. (Detroit Edison), A, MBIA, 5.55%, 2029 |
3,000,000 | 3,032,130 | ||||
Mississippi Business Finance Corp., Pollution Control Rev. (Systems Energy Resources Project), 5.875%, 2022 |
1,000,000 | 1,003,380 | ||||
New Hampshire Business Finance Authority, Pollution Control Rev. (Public Service of New Hampshire), B, MBIA, 4.75%, 2021 |
250,000 | 238,228 | ||||
Pennsylvania Economic Development Financing Authority Rev. (Reliant Energy Seward), A, 6.75%, 2036 |
200,000 | 198,966 | ||||
Petersburg, IN, Pollution Control Rev. (Indianapolis Power & Light), MBIA, 5.4%, 2017 |
2,500,000 | 2,661,025 | ||||
$ | 11,050,455 | |||||
Utilities - Municipal Owned 2.5% |
||||||
North Carolina Eastern Municipal Power Agency System Rev., F, 5.5%, 2016 |
$ | 285,000 | $ | 294,468 | ||
North Carolina Municipal Power Agency No. 1 Catawba Electric Rev., A, MBIA, 5.5%, 2015 |
640,000 | 699,585 | ||||
North Carolina Municipal Power Agency No. 1 Catawba Electric Rev., ETM, 5%, 2020 (c) |
1,670,000 | 1,750,394 | ||||
$ | 2,744,447 | |||||
Utilities - Other 0.7% |
||||||
Main Street Natural Gas, Inc., GA, A, 5.5%, 2028 |
$ | 250,000 | $ | 209,293 | ||
Salt Verde Financial Corp., AZ, Senior Gas Rev., 5%, 2037 |
640,000 | 516,770 | ||||
$ | 726,063 | |||||
Water & Sewer Utility Revenue 2.3% |
||||||
Massachusetts Water Resources Authority (Charlestown Navy Yard), FSA, 5.25%, 2029 |
$ | 600,000 | $ | 607,698 | ||
Puerto Rico Aqueduct & Sewer Authority Rev., MBIA, 6.25%, 2012 |
1,000,000 | 1,092,990 |
10
MFS Investment Grade Municipal Trust
PORTFOLIO OF INVESTMENTS (Unaudited) 2/29/08 - continued
Issuer |
Shares/Par | Value ($) | |||||
Municipal Bonds continued |
|||||||
Water & Sewer Utility Revenue continued |
|||||||
Puerto Rico Aqueduct & Sewer Authority Rev., MBIA, 6.25%, 2013 |
$ | 750,000 | $ | 827,483 | |||
$ | 2,528,171 | ||||||
Total Municipal Bonds |
$ | 167,442,353 | |||||
Floating Rate Demand Notes 1.1% |
|||||||
East Baton Rouge, LA, Pollution Control Rev. (Exxon Mobil Corp.), 3.09%, due 3/03/08 |
$ | 1,200,000 | $ | 1,200,000 | |||
Total Investments |
$ | 168,642,353 | |||||
Other Assets, Less Liabilities 1.6% |
1,704,395 | ||||||
Preferred shares (issued by the fund) (54.4)% |
(60,000,000 | ) | |||||
Net assets applicable to common shares 100.0% |
$ | 110,346,748 | |||||
(a) | Mandatory tender date is earlier than stated maturity date. |
(c) | Refunded bond. |
(d) | Non-income producing security - in default. |
(f) | All or a portion of the security has been segregated as collateral for an open futures contract. |
(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 $2,871,822, representing 2.6% 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. |
(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 |
Acquisition Cost |
Current Market Value |
||||||
Cabazon Band Mission Indians, CA, 8.375%, 2015 |
10/04/04 | $ | 100,000 | $ | 103,082 | ||||
Cabazon Band Mission Indians, CA, 8.75%, 2019 |
10/04/04 | 360,000 | 371,970 | ||||||
Pass-Through Certificates, 1993, 8.5%, 2016 |
8/27/93 | 232,276 | 224,397 | ||||||
Total Restricted Securities |
$ | 699,449 | |||||||
% of Net Assets applicable to common shares |
0.6 | % |
The following abbreviations are used in this report and are defined: | ||
COP | Certificate of Participation | |
ETM | Escrowed to Maturity | |
FRN | Floating Rate Note. Interest rate resets periodically and may not be the rate reported at period end. | |
Insurers | ||
AMBAC | AMBAC Indemnity Corp. | |
ASSD GTY | Assured Guaranty Insurance Co. | |
FGIC | Financial Guaranty Insurance Co. | |
FHA | Federal Housing Administration | |
FSA | Financial Security Assurance Inc. | |
GNMA | Government National Mortgage Assn. | |
MBIA | MBIA Insurance Corp. | |
RADIAN | Radian Asset Assurance, Inc. |
See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.
11
MFS Investment Grade Muncipal Trust
Supplemental Information (Unaudited) 2/29/08
(1) Fair Value Disclosure
The fund adopted FASB Statement No. 157, Fair Value Measurements (the Statement) in this reporting period. 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 funds investments. These inputs are categorized into three broad levels. Level 1 include quoted prices in active markets for identical assets or liabilities. Level 2 include other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, credit risk, etc.). Level 3 include unobservable inputs, which may include the advisers 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, which are valued at the unrealized appreciation/depreciation on the instrument. The following is a summary of the levels used as of February 29, 2008 in valuing the funds assets carried at market value:
Level 1 | Level 2 | Level 3 | Total | |||||||||
Investments in Securities |
$ | 168,642,353 | $ | 168,642,353 | ||||||||
Other Financial Instruments |
(1,414,872 | ) | (1,414,872 | ) |
(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 |
$ | 171,562,501 | ||
Gross unrealized appreciation |
$ | 6,677,287 | ||
Gross unrealized depreciation |
(10,603,185 | ) | ||
Net unrealized appreciation (depreciation) |
$ | (3,925,898 | ) | |
The aggregate cost above includes prior fiscal year end tax adjustments.
(3) Derivative Contracts at 2/29/08
Futures contracts outstanding at 2/29/08
Description |
Contracts | Value | Expiration Date |
Unrealized Appreciation (Depreciation) |
|||||||
U.S. Treasury Bond (Short) |
117 | $ | 13,879,125 | Jun-08 | $ | (440,074 | ) | ||||
U.S. Treasury Note 10 yr (Short) |
324 | 37,999,125 | Jun-08 | (974,798 | ) | ||||||
$ | (1,414,872 | ) | |||||||||
At February 29, 2008, the fund had sufficient cash and/or other liquid securities to cover any commitments under these derivative contracts.
12
ITEM 2. | CONTROLS AND PROCEDURES. |
(a) | Based upon their evaluation of the effectiveness of the registrants 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 registrants 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 Commissions rules and forms. |
(b) | There were no changes in the registrants internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants 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)* | ROBERT J. MANNING | |
Robert J. Manning, President |
Date: April 14, 2008
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)* | ROBERT J. MANNING | |
Robert J. Manning, President (Principal Executive Officer) |
Date: April 14, 2008
By (Signature and Title)* | MARIA F. DWYER | |
Maria F. Dwyer, Treasurer (Principal Financial Officer and Accounting Officer) |
Date: April 14, 2008
* | Print name and title of each signing officer under his or her signature. |