Almitas Capital discloses 1.51M-share CMU position on Schedule 13G

Rhea-AI Filing Summary

Almitas Capital LLC filed a Schedule 13G reporting a significant position in MFS High Yield Municipal Trust (CMU). The firm beneficially owns 1,507,168 shares of CMU common stock, representing 5.9% of the outstanding class as of the event date 09/30/2025. Almitas, organized in Delaware and acting as an investment adviser, reports sole voting power and sole dispositive power over all of these shares, with no shared voting or dispositive authority. The filing indicates that no other persons or subsidiaries are identified as sharing this ownership or control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

MFS HIGH YIELD MUNICIPAL TRUST

(Name of Issuer)

Common Stock

(Title of Class of Securities)

59318E102

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 59318E102

1

Names of Reporting Persons

Almitas Capital LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,507,168.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,507,168.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,507,168.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MFS HIGH YIELD MUNICIPAL TRUST
(b)	Address of issuer's principal executive offices: 111 HUNTINGTON AVENUE, 24TH FLOOR, BOSTON, MASSACHUSETTS, 02199
Item 2.
(a)	Name of person filing: Almitas Capital LLC
(b)	Address or principal business office or, if none, residence: 1460 4th Street, Suite 300 Santa Monica, CA 90401
(c)	Citizenship: See Item 4 of the cover page.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 59318E102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of the cover page.
(b)	Percent of class: See Item 11 of the cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the cover page.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the cover page.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the cover page.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Advisor is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Almitas Capital LLC

Signature:	Ronald Mass
Name/Title:	Managing Principal
Date:	11/14/2025

FAQ

What stake in CMU does Almitas Capital LLC report on this Schedule 13G?

Almitas Capital LLC reports beneficial ownership of 1,507,168 shares of MFS High Yield Municipal Trust (CMU) common stock.

What percentage of CMU does Almitas Capital LLC beneficially own?

Almitas Capital LLC reports that its 1,507,168 shares represent 5.9% of the outstanding CMU common stock.

Does Almitas Capital LLC have sole or shared voting power over its CMU shares?

Almitas Capital LLC reports sole voting power over 1,507,168 shares and no shared voting power.

Who is the issuer referenced in this Schedule 13G filing by Almitas Capital LLC?

The issuer is MFS High Yield Municipal Trust, which has common stock with CUSIP 59318E102.

What dispositive power does Almitas Capital LLC report over its CMU position?

Almitas Capital LLC reports sole dispositive power over 1,507,168 CMU shares and no shared dispositive power.

When was the CMU ownership position by Almitas Capital LLC measured for this filing?

The ownership position reported by Almitas Capital LLC is stated as of the event date 09/30/2025.

What type of reporting person is Almitas Capital LLC in this CMU Schedule 13G?

Almitas Capital LLC is classified as an investment adviser (IA) organized in Delaware.