Almitas Capital reports 5.5% stake in MFS trust

Almitas Capital LLC has disclosed a significant holding in MFS Investment Grade Municipal Trust common stock.

Rhea-AI Filing Summary

Almitas Capital LLC has disclosed a significant holding in MFS Investment Grade Municipal Trust common stock. As of 12/31/2025, Almitas beneficially owned 788,665 shares, representing 5.5% of the fund’s outstanding common shares.

Almitas reports sole voting and dispositive power over all 788,665 shares and no shared power with other parties. The firm certifies that the position was acquired and is held in the ordinary course of business, without the purpose or effect of changing or influencing control of the fund.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Almitas Capital hold in CXH (MFS Investment Grade Municipal Trust)?

Almitas Capital holds a significant passive stake in CXH, owning 788,665 common shares. This represents 5.5% of the fund’s outstanding common stock as of December 31, 2025, giving Almitas sole voting and dispositive power over those shares.

Is Almitas Capital’s 5.5% position in CXH intended to influence control of the fund?

Almitas Capital states the CXH shares were acquired and are held in the ordinary course of business. It specifically certifies they were not acquired to change or influence control of the fund, indicating a passive investment rather than an activist position.

How many CXH shares does Almitas Capital have voting power over?

Almitas Capital reports sole voting power over 788,665 CXH common shares. It reports zero shared voting power with any other party, meaning all voting decisions on these shares are controlled directly by Almitas Capital LLC alone.

What percentage of CXH’s common stock is owned by Almitas Capital?

Almitas Capital owns 5.5% of CXH’s outstanding common stock. This ownership percentage is based on 788,665 shares beneficially owned as of December 31, 2025, and reflects a sizable but minority position in the municipal bond closed-end fund.

What type of investor is Almitas Capital in relation to CXH?

Almitas Capital is a Delaware limited liability company filing as a beneficial owner of CXH common stock. It characterizes its holdings as acquired and held in the ordinary course of business, consistent with a passive institutional investor rather than an operating company.

Who signed the ownership report for Almitas Capital regarding CXH?

The ownership report for CXH was signed by Ronald Mass as Managing Principal of Almitas Capital LLC. By signing, he certifies that the information about the 788,665 shares and 5.5% stake is true, complete, and correct to the best of his knowledge.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/17/2026 - 07:00 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

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

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 788,665.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 788,665.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

788,665.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MFS INVESTMENT GRADE 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: Delaware
(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).
Item 4.	Ownership
(a)	Amount beneficially owned: 788,665
(b)	Percent of class: 5.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 788,665
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 788,665
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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 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.

Almitas Capital LLC

Signature:	Ronald Mass
Name/Title:	Managing Principal
Date:	02/13/2026