Bulldog Investors, LLP and its principals increased transparency around their stake in MFS Investment Grade Municipal Trust by filing Amendment No. 4 to Schedule 13G. As of 12/31/2025, Bulldog Investors, LLP reported beneficial ownership of 1,209,033 common shares, representing 14.75 % of the fund’s outstanding stock. Phillip Goldstein reported beneficial ownership of 1,384,095 shares, or 16.88 % of the class, while Andrew Dakos reported 1,203,765 shares, or 14.68 %. The filing details each party’s sole and shared voting and dispositive powers, indicating most authority is shared across client and managed accounts. The filers certify that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the trust, other than limited activities tied to nomination rules.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
MFS Investment Grade Municipal Trust
(Name of Issuer)
Common Stock
(Title of Class of Securities)
59318B108
(CUSIP Number)
12/31/2025
(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.
59318B108
1
Names of Reporting Persons
Bulldog Investors, LLP
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
7,688.00
6
Shared Voting Power
1,201,345.00
7
Sole Dispositive Power
7,688.00
8
Shared Dispositive Power
1,201,345.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,209,033.00
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)
14.75 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
59318B108
1
Names of Reporting Persons
Phillip Goldstein
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
11,419.00
6
Shared Voting Power
1,372,676.00
7
Sole Dispositive Power
11,419.00
8
Shared Dispositive Power
1,372,676.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,384,095.00
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)
16.88 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
59318B108
1
Names of Reporting Persons
Andrew Dakos
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,203,765.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,203,765.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,203,765.00
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)
14.68 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
MFS Investment Grade Municipal Trust
(b)
Address of issuer's principal executive offices:
111 Huntington Ave. 24th FL, Boston, MA 02199
Item 2.
(a)
Name of person filing:
Bulldog Investors, LLP
Phillip Goldstein
Andrew Dakos
(b)
Address or principal business office or, if none, residence:
Bulldog Investors, LLP: 250 Pehle Ave. Suite 708, Saddle Brook, NJ 07663
Phillip Goldstein: 250 Pehle Ave. Suite 708, Saddle Brook, NJ 07663
Andrew Dakos: 250 Pehle Ave. Suite 708, Saddle Brook, NJ 07663
(c)
Citizenship:
Bulldog Investros LLP: Delaware
Phillip Goldstein: UNITED STATES
Andrew Dakos: UNITED STATES
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
59318B108
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).
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Clients of Bulldog Investors, LLP, and other accounts for which Messrs. Dakos and/or Goldstein are deemed to be the beneficial owners, are entitled to receive dividends and sales proceeds
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
N/A
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
N/A
Item 9.
Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
N/A
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
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.
What ownership did Bulldog Investors report in CXH common stock?
Bulldog Investors, LLP reported beneficial ownership of 1,209,033 MFS Investment Grade Municipal Trust (CXH) common shares, representing 14.75 % of the outstanding class as of 12/31/2025. Most of these shares are held with shared voting and dispositive power across client and managed accounts.
How much of CXH does Phillip Goldstein beneficially own?
Phillip Goldstein reported beneficial ownership of 1,384,095 MFS Investment Grade Municipal Trust (CXH) shares, equal to 16.88 % of the common stock as of 12/31/2025. His holdings combine a small block with sole power and a much larger position over which he shares voting and dispositive authority.
What stake in CXH did Andrew Dakos disclose in this Schedule 13G/A?
Andrew Dakos reported beneficial ownership of 1,203,765 MFS Investment Grade Municipal Trust (CXH) shares, or 14.68 % of the outstanding common stock as of 12/31/2025. He reported no shares with sole voting or dispositive power; all are held with shared authority over voting and disposition.
Is Bulldog Investors’ CXH position considered passive under this filing?
Yes. The filers certify the CXH securities were acquired and are held in the ordinary course of business and not to change or influence control of the issuer. They note this exclusion does not cover certain activities related to director nominations under specific proxy access rules.
Who benefits economically from the CXH shares reported in this Schedule 13G/A?
The filing states that clients of Bulldog Investors, LLP and other accounts for which Phillip Goldstein and/or Andrew Dakos are deemed beneficial owners are entitled to receive dividends and sales proceeds on the reported CXH shares. These arrangements explain the extensive shared voting and dispositive powers disclosed.
Why did Bulldog Investors, Goldstein, and Dakos file an amended Schedule 13G for CXH?
They filed Amendment No. 4 to update their beneficial ownership in MFS Investment Grade Municipal Trust (CXH) as of 12/31/2025. The amendment refreshes share counts, percentage of class, and the breakdown of sole versus shared voting and dispositive powers across their managed and client accounts.
