MFS HIGH INCOME MUNICIPAL TRUST N-Q

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 811-5754

MFS HIGH INCOME 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: August 31, 2008


ITEM 1. SCHEDULE OF INVESTMENTS.


LOGO

 


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – 164.0%      
Airport & Port Revenue – 4.0%      

Branson, MO, Regional Airport Transportation Development District Airport Rev., “B”, 6%, 2037

   $ 610,000    $ 500,088

Denver, CO, City & County Airport, “B”, ETM, 6.125%, 2025 (c)

     2,840,000      2,864,139

Denver, CO, City & County Airport, “C”, ETM, 6.125%, 2025 (c)

     2,280,000      2,638,985

New York, NY, City Industrial Development Authority Rev. (Terminal One Group Assn.), 5.5%, 2021

     750,000      768,090
      $ 6,771,302
General Obligations – General Purpose – 0.7%      

New York, NY, “H”, 6%, 2017

   $ 5,000    $ 5,033

Puerto Rico Government Development Bank, “B”, 5%, 2015

     700,000      716,596

State of California, 5.25%, 2023

     380,000      404,555
      $ 1,126,184
General Obligations - Schools – 1.9%      

Irving, TX, Independent School District, “A”, PSF, 0%, 2018

   $ 1,000,000    $ 666,559

Montebello, CA, Unified School District, FSA, 0%, 2021

     1,435,000      755,713

Montebello, CA, Unified School District, 0%, 2023

     1,505,000      703,150

Placer, CA, Unified School District, “A”, FGIC, 0%, 2019

     1,700,000      1,004,699
      $ 3,130,121
Healthcare Revenue – Hospitals – 32.0%      

Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), “A”, 5%, 2028

   $ 565,000    $ 398,646

Allegheny County, PA, Hospital Development Authority Rev. (West Penn Allegheny Health), “A”, 5.375%, 2040

     835,000      582,804

Brunswick, GA, Hospital Authority Rev. (Glynn-Brunswick Memorial Hospital), 5.625%, 2034

     220,000      216,015

California Statewide Communities Development Authority Rev. (Catholic Healthcare West) “K”, ASSD GTY, 5.5%, 2041

     1,545,000      1,575,157

California Statewide Communities Development Authority Rev. (Catholic Healthcare West) “L”, ASSD GTY, 5.25%, 2041

     1,130,000      1,132,283

California Statewide Communities Development Authority Rev. (Children’s Hospital), 5%, 2047

     375,000      302,700

California Statewide Communities Development Authority Rev. (St. Joseph Health System), FGIC, 5.75%, 2047

     745,000      766,329

California Statewide Communities Development Authority Rev. (Sutter Health), “B”, 5.25%, 2048

     1,500,000      1,453,695

Cass County, MO, Hospital Rev., 5.625%, 2038

     235,000      211,773

Conway, AR, Hospital Rev. (Conway Regional Medical Center), “A”, 6.4%, 2029

     425,000      428,434

Conway, AR, Hospital Rev. (Conway Regional Medical Center), “B”, 6.4%, 2029

     1,000,000      1,008,080

Delaware County, PA, Authority Rev. (Mercy Health Corp.), ETM, 6%, 2016 (c)

     835,000      906,576

Delaware County, PA, Authority Rev. (Mercy Health Corp.), ETM, 6%, 2026 (c)

     1,000,000      1,091,470

Dickinson County, MI, Healthcare System Hospital Rev., 5.7%, 2018

     750,000      742,538

Douglas County, NE, Hospital Authority Rev. (Methodist Health Partners), 5.75%, 2048

     470,000      450,824

Forsyth County, GA, Hospital Authority Rev. (Baptist Health Care System), ETM, 6%, 2008 (c)

     170,000      170,566

Garden City, MI, Hospital Finance Authority Rev. (Garden City Hospital), 5%, 2038

     750,000      541,268

Genesee County, NY, Industrial Development Agency Civic Facility Rev. (United Memorial Medical Center), 5%, 2027

     120,000      101,197

Glendale, AZ, Industrial Development Authority (John C. Lincoln Health), 5%, 2042

     115,000      95,763

Idaho Health Facilities Authority Rev. (IHC Hospitals, Inc.), ETM, 6.65%, 2021 (c)

     1,750,000      2,144,765

Illinois Finance Authority Rev. (Children’s Memorial Hospital), “A”, ASSD GTY, 5.25%, 2047

     2,450,000      2,398,207

Illinois Finance Authority Rev. (Edward Hospital), AMBAC, 5.5%, 2040

     1,700,000      1,701,139

Illinois Finance Authority Rev. (Kewanee Hospital), 5.1%, 2031

     550,000      441,579

Illinois Health Facilities Authority Rev. (Swedish American Hospital), 6.875%, 2010 (c)

     500,000      537,840

 

1


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Healthcare Revenue – Hospitals – continued      

Indiana Health & Educational Facilities Authority, Hospital Rev. (Community Foundation of Northwest Indiana), 5.5%, 2037

   $ 1,445,000    $ 1,235,475

Indiana Health & Educational Facilities Financing Authority Rev. (Jackson County Schneck Memorial Hospital), “A”, 5.25%, 2036

     500,000      458,850

Indiana Health & Educational Facilities Financing Authority Rev. (Sisters of St. Francis Health Services, Inc.), FSA, 5.25%, 2041

     145,000      144,988

Indiana Health Facilities Financing Authority Rev. (Community Foundation of Northwest Indiana ), “A”, 6%, 2034

     575,000      549,740

Jackson, TN, Town Hospital Rev. (Jackson-Madison County General Hospital), 5.75%, 2041

     565,000      558,412

Johnson City, TN, Health & Educational Facilities Board Hospital Rev., 5.5%, 2031

     1,455,000      1,328,051

Johnson City, TN, Health, Educational Facilities Board & Hospital Rev. (Mountain States Health), “A”, 5.5%, 2036

     285,000      256,252

Kent Hospital, MI, Finance Authority Rev. (Spectrum Health) “A”, 5.5%, 2047 (a)

     1,000,000      1,067,280

Lake County, OH, Hospital Facilities Rev. (Lake Hospital Systems, Inc.), 5.625%, 2029

     565,000      536,677

Louisiana Public Facilities Authority Hospital Rev. (Lake Charles Memorial Hospital), 6.375%, 2034

     1,070,000      998,503

Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2032

     80,000      72,482

Lufkin, TX, Health Facilities Development Corp. Rev. (Memorial Health System), 5.5%, 2037

     75,000      66,725

Maryland Health & Higher Educational Facilities Authority Rev. (Medstar Health), BHAC, 5.25%, 2046

     565,000      569,582

Maryland Health & Higher Educational Facilities Authority Rev. (Washington County Hospital), 5.75%, 2038

     105,000      99,862

Maryland Health & Higher Educational Facilities Authority Rev. (Washington County Hospital), 6%, 2043

     150,000      146,574

Massachusetts Development Finance Agency (Boston Biomedical Research), 5.65%, 2019

     200,000      200,702

Massachusetts Development Finance Agency (Boston Biomedical Research), 5.75%, 2029

     450,000      426,704

Massachusetts Health & Educational Facilities Authority Rev. (Civic Investments, Inc.), “A”, 9%, 2012 (c)

     1,000,000      1,203,310

Massachusetts Health & Educational Facilities Authority Rev. (Jordan Hospital), “E”, 6.75%, 2033

     500,000      487,015

Massachusetts Health & Educational Facilities Authority Rev. (Milford-Whitinsville Hospital), “D”, 6.35%, 2012 (c)

     1,000,000      1,137,300

Massachusetts Health & Educational Facilities Authority Rev. (Quincy Medical Center), “A”, 6.5%, 2038

     420,000      404,027

Miami County, OH, Hospital Facilities Rev. (Upper Valley Medical Center), 5.25%, 2018

     450,000      446,594

Michigan State Hospital Finance Authority (McLaren Health Care), 5.75%, 2038

     1,130,000      1,120,926

Minneapolis & St. Paul, MN, Housing & Redevelopment Authority (Health Partners), 6%, 2021

     500,000      510,515

Mississippi Hospital Equipment & Facilities Authority Rev. (South Central Regional Medical Center), 5.25%, 2026

     400,000      366,552

Montgomery, AL, Medical Clinic Board Health Care Facility Rev. (Jackson Hospital & Clinic), 5.25%, 2031

     155,000      135,399

Montgomery, AL, Medical Clinic Board Health Care Facility Rev. (Jackson Hospital & Clinic), 5.25%, 2036

     800,000      682,592

New Hampshire Health & Educational Facilities Authority Rev. (Catholic Medical Center), “A”, 6.125%, 2012 (c)

     350,000      396,158

New Hampshire Health & Educational Facilities Authority Rev. (Catholic Medical Center), “A”, 6.125%, 2032

     50,000      50,153

New Hampshire Health & Educational Facilities Authority Rev. (Memorial Hospital at Conway), 5.25%, 2036

     800,000      678,472

New Jersey Health Care Facilities, Financing Authority Rev. (St. Peter’s University Hospital), 5.75%, 2037

     700,000      660,548

 

2


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Healthcare Revenue – Hospitals – continued      

New Mexico State Hospital Equipment Loan Council, Hospital Rev. (Rehoboth McKinley Christian Hospital), “A”, 5%, 2017

   $ 365,000    $ 339,282

North Carolina Medical Care Commission (Stanly Health Services, Inc.), 6.375%, 2029

     1,915,000      1,951,845

Orange County, FL, Health Facilities Authority Hospital Rev. (Orlando Regional Healthcare), 5.75%, 2012 (c)

     200,000      223,262

Philadelphia, PA, Hospitals & Higher Education Facilities Authority Rev. (Temple University Hospital), “A”, 5.5%, 2030

     1,615,000      1,466,275

Salida, CO, Hospital District Rev., 5.25%, 2036

     945,000      755,556

Saline County, MO, Industrial Development Authority Rev. (John Fitzgibbon Memorial Hospital, Inc.), 5.625%, 2035

     1,250,000      1,066,075

Skagit County, WA, Public Hospital District No. 001, 5.75%, 2032

     120,000      112,973

South Carolina Jobs Economic Development Authority (Bon Secours - Venice Healthcare Corp.), 5.5%, 2012 (c)

     380,000      421,618

South Carolina Jobs Economic Development Authority (Bon Secours - Venice Healthcare Corp.), 5.5%, 2023

     1,370,000      1,388,810

South Dakota Health & Educational Facilities Authority Rev. (Sioux Valley Hospitals & Health Systems), “A”, 5.25%, 2034

     800,000      774,528

South Lake County, FL, Hospital District Rev. (South Lake Hospital, Inc.), 6.375%, 2034

     500,000      501,360

Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.5%, 2020

     225,000      224,408

Southwestern, IL, Development Authority Rev. (Anderson Hospital), 5.125%, 2036

     1,000,000      842,960

Sullivan County, TN, Health, Educational & Housing Facilities Board Hospital Rev. (Wellmont Health Systems Project), “C”, 5.25%, 2036

     225,000      194,105

Tampa, FL, Hospital Rev. (H. Lee Moffitt Cancer Center), “A”, 5.75%, 2029

     2,000,000      2,015,860

Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), “A”, 5.25%, 2032

     290,000      252,764

Tyler, TX, Health Facilities Development Corp. (East Texas Medical Center), “A”, 5.375%, 2037

     235,000      202,236

Tyler, TX, Health Facilities Development Corp. (Mother Frances Hospital), 6%, 2012 (c)

     1,000,000      1,118,350

West Orange, FL, Healthcare District, “A”, 5.65%, 2022

     525,000      533,736

West Virginia Hospital Finance Authority Rev. (Charleston Medical Center), 6.75%, 2010 (c)

     805,000      883,198

Wisconsin Health & Educational Facilities Authority Rev. (Aurora Health Care, Inc.), 6.4%, 2033

     525,000      534,156

Wisconsin Health & Educational Facilities Authority Rev. (Fort Healthcare, Inc.), 5.75%, 2029

     1,000,000      986,830

Wisconsin Health & Educational Facilities Authority Rev. (Wheaton Franciscan Services), 5.25%, 2034

     865,000      718,720
      $ 53,904,975
Healthcare Revenue – Long Term Care – 29.5%      

ABAG Finance Authority for Non-Profit Corps., CA (Eskaton Gold River Lodge), 6.375%, 2008 (c)

   $ 525,000    $ 540,398

ABAG Finance Authority for Non-Profit Corps., CA (Eskaton Gold River Lodge), 6.375%, 2008 (c)

     550,000      566,242

Abilene, TX, Health Facilities Development Corp., Retirement Facilities Rev. (Sears Methodist Retirement), “A”, 5.9%, 2025

     1,000,000      939,290

Abilene, TX, Health Facilities Development Corp., Retirement Facilities Rev. (Sears Methodist Retirement), “A”, 7%, 2033

     500,000      501,670

Boston, MA, Industrial Development Financing Authority Rev. (Springhouse, Inc.), 5.875%, 2020

     255,000      252,728

Bucks County, PA, Industrial Development Authority Rev. (Lutheran Community Telford Center), 5.75%, 2027

     120,000      108,175

Bucks County, PA, Industrial Development Authority Rev. (Lutheran Community Telford Center), 5.75%, 2037

     155,000      131,916

Bucks County, PA, Industrial Development Authority, Retirement Community Rev. (Ann’s Choice, Inc.), 6.125%, 2025

     1,000,000      990,240

 

3


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Healthcare Revenue – Long Term Care – continued      

California Statewide Communities Development Authority Rev. (Eskaton Properties, Inc.), 8.25%, 2010 (c)

   $ 970,000    $ 1,097,555

Capital Projects Finance Authority, FL (Glenridge on Palmer Ranch), “A”, 8%, 2012 (c)

     750,000      889,148

Chester County, PA, Industrial Development Authority Rev. (RHA Nursing Home), 8.5%, 2032

     1,530,000      1,541,261

Colorado Health Facilities Authority Rev. (American Baptist Homes), “A”, 5.9%, 2037

     530,000      454,019

Colorado Health Facilities Authority Rev. (American Housing Foundation, Inc.), 8.5%, 2031

     455,000      457,316

Colorado Health Facilities Authority Rev. (Covenant Retirement Communities, Inc.), 5%, 2035

     1,400,000      1,144,038

Columbus, GA, Housing Authority Rev. (Calvary Community, Inc.), 7%, 2019

     450,000      426,573

Connecticut Development Authority Rev. (Elim Park Baptist Home, Inc.), 5.85%, 2033

     660,000      626,617

Fulton County, GA, Residential Care Facilities (Canterbury Court), “A”, 6.125%, 2034

     750,000      686,565

Fulton County, GA, Residential Care Facilities, (Lenbrook Project), “A”, 5.125%, 2042

     1,000,000      759,210

Fulton County, GA, Residential Care Facilities, First Mortgage (Lenbrook Square Foundation, Inc.), “A”, 5%, 2029

     1,000,000      803,810

HFDC of Central Texas, Inc., Retirement Facilities Rev. (Legacy at Willow Bend), “A”, 5.75%, 2036

     800,000      665,768

Houston, TX, Health Facilities Development Corp. (Buckingham Senior Living Community), “A”, 7.125%, 2014 (c)

     500,000      602,975

Howard County, MD, Retirement Facilities Rev. (Vantage House Corp.), “A”, 5.25%, 2033

     250,000      199,500

Huntington, NY, Housing Authority Rev. (Gurwin Senior Jewish Residences), “A”, 5.875%, 2019

     700,000      676,564

Huntington, NY, Housing Authority Rev. (Gurwin Senior Jewish Residences), “A”, 6%, 2029

     775,000      712,272

Illinois Finance Authority Rev. (Hoosier Care, Inc.), “A”, 7.125%, 2034

     1,150,000      1,078,643

Illinois Finance Authority Rev. (Smith Village), “A”, 6.25%, 2035

     1,250,000      1,135,125

Illinois Health Facilities Authority Rev. (Lutheran Senior Ministries, Inc.), 7.375%, 2011 (c)

     900,000      1,029,762

Illinois Health Facilities Authority Rev. (Smith Crossing), “A”, 7%, 2032

     725,000      725,834

Indiana Health Facilities Financing Authority Rev. (Hoosier Care, Inc.), 7.125%, 2034

     150,000      140,693

Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives), 9.25%, 2011 (c)

     895,000      1,060,584

Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives), “B”, 5.75%, 2018

     550,000      537,856

Iowa Finance Authority, Health Care Facilities Rev. (Care Initiatives), “B”, 5.75%, 2028

     1,475,000      1,316,393

James City County, VA, Economic Development (Virginia United Methodist Homes, Inc.), “A”, 5.5%, 2037

     665,000      527,013

Johnson City, TN, Health & Educational Facilities Board (Appalachian Christian Village), “A”, 6.25%, 2032

     250,000      226,415

Juneau, AK, City & Borough Non-Recourse Rev. (St. Ann’s Care Project), 6.875%, 2025

     1,145,000      1,082,540

Kent County, DE, Assisted Living (Heritage at Dover LLC), 7.625%, 2030

     1,590,000      1,400,218

Kentwood, MI, Economic Development Ltd. (Holland Home), “A”, 5.375%, 2036

     1,000,000      870,350

La Verne, CA, COP (Brethren Hillcrest Homes), “B”, 6.625%, 2025

     690,000      701,337

Lancaster, PA, Industrial Development Authority Rev. (Garden Spot Village), “A”, 7.625%, 2010 (c)

     500,000      550,555

Lee County, FL, Industrial Development Authority Health Care Facilities Rev. (Shell Point Village), “A”, 5.5%, 2009 (c)

     600,000      630,780

Manhattan, KS, Health Care Facilities Rev. (Meadowlark Hills Retirement Foundation), “A”, 6.375%, 2009 (c)

     650,000      676,306

Marion, IA, Health Care Facilities Rev., First Mortgage (AHF/Kentucky-Iowa, Inc.), 6.5% to 2009, 8% to 2029

     575,000      626,394

Massachusetts Development Finance Agency Rev. (Adventcare), “A”, 6.75%, 2037

     895,000      819,820

Massachusetts Development Finance Agency Rev. (Alliance Health of Brockton, Inc.), “A”, 7.1%, 2032

     1,215,000      1,166,424

Massachusetts Development Finance Agency Rev. (Linden Ponds, Inc.), “A”, 5.5%, 2027

     240,000      211,949

 

4


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Healthcare Revenue – Long Term Care – continued      

Massachusetts Development Finance Agency Rev. (Linden Ponds, Inc.), “A”, 5.75%, 2035

   $ 60,000    $ 51,967

Massachusetts Development Finance Agency Rev. (Loomis Communities, Inc.), “A”, 5.625%, 2015

     400,000      402,476

Massachusetts Development Finance Agency Rev. (Loomis Communities, Inc.), “A”, 6.9%, 2032

     100,000      100,633

Metropolitan Government of Nashville & Davidson County, TN, Health & Educational Facilities Board Rev. (Blakeford at Green Hills), 5.65%, 2024

     600,000      545,574

Metropolitan Government of Nashville & Davidson County, TN, Health & Educational Facilities Board, First Mortgage, 7.75%, 2029

     1,140,000      1,236,957

Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.125%, 2028

     250,000      227,443

Montgomery County, PA, Industrial Development Authority Rev. (Whitemarsh Continuing Care), 6.25%, 2035

     750,000      669,488

New Hampshire Higher Education & Health Facilities Authority Rev. (Rivermead at Peterborough Retirement Community), 5.625%, 2018

     500,000      497,905

New Hampshire Higher Education & Health Facilities Authority Rev. (Rivermead at Peterborough Retirement Community), 5.75%, 2028

     500,000      450,270

New Jersey Economic Development Authority Rev. (Lions Gate), “A”, 5.75%, 2025

     205,000      189,844

New Jersey Economic Development Authority Rev. (Lions Gate), “A”, 5.875%, 2037

     830,000      730,234

New Jersey Economic Development Authority Rev. (Seabrook Village, Inc.), 5.25%, 2026

     1,300,000      1,130,428

New Jersey Economic Development Authority Rev. (Seabrook Village, Inc.), “A”, 8.25%, 2010 (c)

     925,000      1,052,521

New Jersey Economic Development Authority Rev. (Seashore Gardens), 5.375%, 2036

     500,000      403,190

North Carolina Medical Care Commission, First Mortgage (DePaul Community Facilities, Inc.), 7.625%, 2009 (c)

     1,475,000      1,579,578

Roseville, MN, Elder Care Facilities (Care Institute, Inc.), 7.75%, 2023

     1,740,000      1,530,434

Sartell, MN, Health Care & Housing Authority Rev. (The Foundation for Health Care), “A”, 6.625%, 2029

     1,145,000      1,105,429

Savannah, GA, Economic Development Authority, First Mortgage (Marshes of Skidway), “A”, 7.4%, 2034

     465,000      466,488

Shelby County, TN, Health, Educational & Housing Facilities Board Rev. (Germantown Village), “A”, 7.25%, 2034

     450,000      420,089

South Carolina Jobs & Economic Development Authority Rev. (Woodlands at Furman), “A”, 6%, 2027

     365,000      338,326

South Carolina Jobs & Economic Development Authority Rev. (Woodlands at Furman), “A”, 6%, 2042

     335,000      289,731

South Carolina Jobs & Economic Development Authority, Health Facilities Rev. (Wesley Commons), 5.3%, 2036

     300,000      245,856

St. Johns County, FL, Industrial Development Authority (Glenmoor Project), “A”, 5.25%, 2026

     500,000      425,380

St. Johns County, FL, Industrial Development Authority (Glenmoor Project), “A”, 5.375%, 2040

     250,000      195,985

Washington County, PA, Industrial Development Authority Rev., First Mortgage (AHF/Central Project), 7.75%, 2029

     1,210,000      1,329,536

Wisconsin Health & Educational Facilities Authority Rev. (Clement Manor, Inc.), 5.75%, 2024

     1,300,000      1,219,959

Wisconsin Health & Educational Facilities Board Rev. (All Saints Assisted Living Project), 5.9%, 2027

     120,000      111,444

Wisconsin Health & Educational Facilities Board Rev. (All Saints Assisted Living Project), 6%, 2037

     245,000      221,139
      $ 49,457,145
Industrial Revenue – Airlines – 3.3%      

Alliance Airport Authority, TX (American Airlines, Inc.), 5.25%, 2029

   $ 1,125,000    $ 649,035

 

5


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Industrial Revenue – Airlines – continued      

Chicago, IL, O’Hare International Airport Special Facilities Rev. (American Airlines, Inc.), 5.5%, 2030

   $ 2,255,000    $ 1,351,670

Cleveland, OH, Airport Special Rev. (Continental Airlines, Inc.), 5.7%, 2019

     1,125,000      908,021

Dallas Fort Worth, TX, International Airport Facility Improvement Corp. (American Airlines, Inc.), 5.5%, 2030

     1,000,000      589,440

New Jersey Economic Development Authority, Special Facilities Rev. (Continental Airlines, Inc.), 6.25%, 2029

     485,000      367,417

New Jersey Economic Development Authority, Special Facilities Rev. (Continental Airlines, Inc.), 9%, 2033 (a)

     750,000      752,430

New York, NY, City Industrial Development Agencies Rev. (American Airlines, Inc.), 7.75%, 2031

     975,000      871,670
      $ 5,489,683
Industrial Revenue – Chemicals – 0.3%      

Brazos River, TX, Harbor Navigation District (Dow Chemical Co.), “B-2”, 4.95%, 2033

   $ 600,000    $ 505,758
Industrial Revenue - Environmental Services – 0.7%      

Carbon County, UT, Solid Waste Disposal Rev. (Allied Waste Industries), “A”, 7.5%, 2010

   $ 250,000    $ 251,748

Carbon County, UT, Solid Waste Disposal Rev. (Laidlaw Environmental), “A”, 7.45%, 2017

     500,000      500,850

Gulf Coast Waste Disposal Authority, TX (Waste Management of Texas), “A”, 5.2%, 2028

     465,000      386,671
      $ 1,139,269
Industrial Revenue – Metals – 0.6%      

Director of Nevada Department of Business & Industry (Wheeling/Pittsburgh Steel), “A”, 8%, 2014

   $ 620,000    $ 622,102

Greensville County, VA, Industrial Development Authority Rev. (Wheeling/Pittsburgh Steel), “A”, 7%, 2014

     340,000      331,289
      $ 953,391
Industrial Revenue – Other – 3.9%      

Annawan, IL, Tax Increment Rev. (Patriot Renewable Fuels LLC), 5.625%, 2018

   $ 450,000    $ 420,651

California Statewide Communities Development Authority Facilities (Microgy Holdings Project), 9%, 2038

     500,000      499,875

Gulf Coast, TX, Industrial Development Authority Rev. (CITGO Petroleum Corp.), 8%, 2028

     500,000      518,560

Houston, TX, Industrial Development Corp. (United Parcel Service, Inc.), 6%, 2023

     650,000      600,854

Indianapolis, IN, Airport Authority Rev., Special Facilities (FedEx Corp.), 5.1%, 2017

     250,000      236,380

Michigan Strategic Fund Rev. (Michigan Sugar Co.), “A”, 6.25%, 2015

     1,250,000      1,258,625

New Jersey Economic Development Authority Rev. (GMT Realty LLC), “B”, 6.875%, 2037

     1,500,000      1,460,625

Virgin Islands Government Refinery Facilities Rev. (Hovensa Coker Project), 6.5%, 2021

     375,000      376,493

Virgin Islands Public Finance Authority, Refinery Facilities Rev. (Hovensa Coker Project), 5.875%, 2022

     600,000      569,214

Will-Kankakee, IL, Regional Development Authority Rev. (Flanders Corp.), 6.5%, 2017

     650,000      641,921
      $ 6,583,198
Industrial Revenue – Paper – 2.8%      

Bedford County, VA, Industrial Development Authority Rev. (Nekooska Packaging Corp.), 5.6%, 2025

   $ 400,000    $ 312,536

Camden, AL, Industrial Development Board Exempt Facilities Rev., “B” (Weyerhaeuser Co.), 6.375%, 2024

     550,000      627,633

Camden, AR, Environmental Improvement Rev. (International Paper Co.), “A”, 5%, 2018

     250,000      223,948

Courtland, AL, Industrial Development Board Rev. (International Paper Co.), “B”, 6.25%, 2025

     1,000,000      949,050

 

6


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Industrial Revenue – Paper – continued      

Escambia County, FL, Environmental Improvement Rev. (International Paper Co.), “A”, 4.75%, 2030

   $ 370,000    $ 276,235

Escambia County, FL, Environmental Improvement Rev. (International Paper Co., Projects), “A”, 5%, 2026

     1,270,000      1,017,435

Lowndes County, MS, Solid Waste Disposal & Pollution Control Rev. (Weyerhaeuser Co.), “B”, 6.7%, 2022

     850,000      870,519

Phenix City, AL, Industrial Development Board Environmental Improvement Rev., “A” (MeadWestvaco Coated), 6.35%, 2035

     550,000      510,736
      $ 4,788,092
Miscellaneous Revenue – Entertainment & Tourism – 2.2%      

Agua Caliente Band of Cahuilla Indians, CA, 5.6%, 2013 (z)

   $ 1,000,000    $ 1,026,140

Cabazon Band Mission Indians, CA, 8.375%, 2015 (z)

     200,000      207,174

Cabazon Band Mission Indians, CA, 8.75%, 2019 (z)

     895,000      930,585

Cow Creek Band of Umpqua Tribe of Indians, OR, “C”, 5.625%, 2026 (n)

     800,000      712,136

New York Liberty Development Corp. Rev. (National Sports Museum), “A”, 6.125%, 2019

     600,000      531,792

Seminole Tribe, FL, Special Obligation, “A”, 5.25%, 2027 (n)

     365,000      336,855
      $ 3,744,682
Miscellaneous Revenue – Other – 0.9%      

Austin, TX, Convention Center (Convention Enterprises, Inc.), XLCA, 5.25%, 2024

   $ 150,000    $ 140,961

Capital Trust Agency, FL (Aero Syracuse LLC), 6.75%, 2032

     500,000      469,865

Cleveland-Cuyahoga County, OH, Port Authority Rev. (Columbia National Group), 5%, 2020

     730,000      677,995

V Lakes Utility District Ranking Water Systems Rev., 7%, 2037

     300,000      267,888
      $ 1,556,709
Multi-Family Housing Revenue – 9.1%      

Broward County, FL, Housing Finance Authority Rev. (Chaves Lakes Apartments Ltd.), “A”, 7.5%, 2040

   $ 750,000    $ 762,285

Capital Trust Agency, FL, Housing Rev. (Atlantic Housing Foundation), 7%, 2032

     765,000      765,000

Charter Mac Equity Issuer Trust, FHLMC, 6.3%, 2019 (n)

     1,000,000      1,087,330

Charter Mac Equity Issuer Trust, FRN, FHLMC, 6.625%, 2009 (a)(n)

     2,000,000      2,048,620

Clay County, FL, Housing Finance Authority Rev. (Madison Commons Apartments), “A”, 7.45%, 2040

     715,000      721,728

District of Columbia Housing Finance Agency (Henson Ridge), FHA, 5.1%, 2037

     1,000,000      890,320

Durham, NC, Durham Housing Authority Rev. (Magnolia Pointe Apartments), 5.65%, 2038 (a)

     1,495,185      1,310,828

El Paso County, TX, Housing Finance Corp. (American Housing Foundation), “D”, 10%, 2032

     395,000      396,762

El Paso County, TX, Housing Finance Corp. (American Housing Foundation, Inc.), “C”, 8%, 2032

     365,000      366,745

Massachusetts Housing Finance Agency Rev., “B”, 5%, 2030

     500,000      478,125

Massachusetts Housing Finance Agency Rev., “E”, 5%, 2028

     500,000      459,830

MuniMae TE Bond Subsidiary LLC, 7.75%, 2050 (a)(n)

     2,000,000      2,122,780

New Mexico Mortgage Finance Authority, Multi-Family Housing Rev. (Sun Pointe Apartments), “E”, FHA, 4.8%, 2040

     1,250,000      1,046,988

Resolution Trust Corp., Pass-Through Certificates, “1993”, 8.5%, 2016 (z)

     546,075      537,736

Seattle, WA, Housing Authority Rev., Capped Fund Program (High Rise Rehab), “I”, FSA, 5%, 2025

     500,000      467,650

Texas Department of Housing & Community Affairs (Pebble Brook Apartments), 5.5%, 2018

     995,000      1,006,880

Wilmington, DE, Multi-Family Housing Rev. (Electra Arms Senior Associates), 6.25%, 2028

     850,000      762,195
      $ 15,231,802
Sales & Excise Tax Revenue – 0.4%      

Bolingbrook, IL, Sales Tax Rev., 6.25%, 2024

   $ 750,000    $ 756,203

 

7


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Single Family Housing – Local – 1.6%      

Minneapolis & St. Paul Housing Authority Rev. (City Living), “A-2”, GNMA, 5%, 2038

   $ 978,599    $ 814,371

Pittsburgh, PA, Urban Redevelopment Authority Rev., “C”, GNMA, 4.8%, 2028

     2,000,000      1,874,380
      $ 2,688,751
Single Family Housing – State – 1.3%      

North Dakota Housing Finance Agency Rev., “A”, 4.85%, 2021

   $ 1,170,000    $ 1,091,458

Oklahoma Housing Finance Agency Rev. (Homeownership Loan Program), “C”, GNMA, 5%, 2026

     1,285,000      1,189,100
      $ 2,280,558
Solid Waste Revenue – 1.6%      

Delaware County, PA, Industrial Development Authority, Resource Recovery Facilities Rev. (American Ref-Fuel Co.), “A”, 6.2%, 2019

   $ 2,000,000    $ 1,956,680

Massachusetts Development Finance Agency, Resource Recovery Rev. (Ogden Haverhill Associates), “A”, 6.7%, 2014

     210,000      218,486

Massachusetts Industrial Finance Agency, Resource Recovery Rev. (Ogden Haverhill Associates), “A”, 5.6%, 2019

     500,000      472,825
      $ 2,647,991
State & Agency – Other – 0.1%      

Commonwealth of Puerto Rico (Mepsi Campus), “A”, 6.25%, 2024

   $ 100,000    $ 97,039
State & Local Agencies – 4.1%      

California Public Works Board Lease Rev., Department of Mental Health (Coalinga), “A”, 5.5%, 2019

   $ 1,000,000    $ 1,072,500

Dorchester County, SC, School District No. 2, Growth Remedy Opportunity Tax Hike, 5.25%, 2029

     650,000      646,653

Louisiana Military Department Custody Receipts, 5%, 2024

     1,500,000      1,518,495

New York Urban Development Corp. (University Facilities Grants), 5.875%, 2021

     1,000,000      1,122,520

Newberry, SC, Investing in Children’s Education (Newberry County School District Program), 5%, 2030

     500,000      461,105

Puerto Rico Public Finance Corp., “E”, ETM, 6%, 2026 (c)

     155,000      176,767

Puerto Rico Public Finance Corp., Unrefunded, “E”, 6%, 2026

     1,645,000      1,876,007
      $ 6,874,047
Tax – Other – 1.2%      

Dallas County, TX, Flood Control District, 7.25%, 2032

   $ 1,000,000    $ 1,031,990

New Jersey Economic Development Authority Rev. (Cigarette Tax), 5.75%, 2029

     1,000,000      946,470
      $ 1,978,460
Tax Assessment – 14.4%      

Atlanta, GA, Tax Allocation (Eastside Project), “A”, 5.625%, 2016

   $ 600,000    $ 594,546

Ave Maria Stewardship Community District, FL, “A”, 5.125%, 2038

     350,000      258,454

Carson, CA, Improvement Board Act 1915, 7.375%, 2022

     35,000      35,365

Celebration Community Development District, FL, “A”, 6.4%, 2034

     950,000      971,100

Channing Park Community Development District, FL, 5.3%, 2038

     600,000      451,692

Chicago, IL, Tax Increment Allocation (Pilsen Redevelopment), “B”, 6.75%, 2022

     450,000      461,966

Colonial Country Club Community Development District, FL, 6.4%, 2033

     705,000      715,928

Double Branch Community Development District, FL, “A”, 6.7%, 2034

     660,000      672,329

Du Page County, IL, Special Service Area No. 31 Special Tax (Monarch Landing Project), 5.625%, 2036

     250,000      209,623

Durbin Crossing Community Development District, FL, Special Assessment, “B-1”, 4.875%, 2010

     295,000      281,993

Grand Bay at Doral Community Development District, FL, “A”, 6%, 2039

     120,000      100,482

Grand Bay at Doral Community Development District, FL, “B”, 6%, 2017

     700,000      645,218

Heritage Harbour North Community Development District, FL, Capital Improvement Rev., 6.375%, 2038

     415,000      367,271

Homestead 50 Community Development District, FL, “A”, 6%, 2037

     480,000      402,422

Homestead 50 Community Development District, FL, “B”, 5.9%, 2013

     220,000      208,824

 

8


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Tax Assessment – continued      

Huntington Beach, CA, Community Facilities District, Special Tax (Grand Coast Resort), “2000-1”, 6.45%, 2031

   $ 750,000    $ 761,790

Lexington Oaks Community Development District, FL, “A”, 6.125%, 2008 (c)

     305,000      307,153

Lexington Oaks Community Development District, FL, “A”, 7.2%, 2030

     260,000      264,867

Lexington Oaks Community Development District, FL, “A”, 6.7%, 2033

     250,000      255,165

Lincoln, CA, Special Tax (Community Facilities District ), “2003-1”, 5.9%, 2013 (c)

     445,000      512,983

Lincolnshire, IL, Special Service Area No. 1 (Sedgebrook Project), 6.25%, 2034

     500,000      462,965

Magnolia Park Community Development District, FL, Special Assessment Rev., “A”, 6.15%, 2039

     815,000      700,761

Northwest Metropolitan District No. 3, CO, 6.25%, 2035

     500,000      418,775

Oakdale, CA, Public Financing Authority Tax Allocation Rev. (Central City Redevelopment Project), 5.375%, 2033

     1,375,000      1,279,850

Oakmont Grove Community Development District, CA, “A”, 5.4%, 2038

     500,000      360,675

Ohio County, WV, Commission Tax Increment Rev. (Fort Henry Centre), “A”, 5.85%, 2034

     165,000      154,391

Orange County, CA, Community Facilities District, Special Tax (Ladera Ranch), “A”, 6.7%, 2009 (c)

     500,000      534,070

Orange County, CA, Improvement Act 1915, “B”, 5.75%, 2033

     500,000      462,655

Orlando, FL, Special Assessment Rev. (Conroy Road Interchange Project), “A”, 5.5%, 2010

     70,000      69,362

Orlando, FL, Special Assessment Rev. (Conroy Road Interchange Project), “A”, 5.8%, 2026

     300,000      289,695

Plano, IL, Special Service Area No. 4 (Lakewood Springs Project Unit 5-B), 6%, 2035

     2,000,000      1,820,600

Portage, IN, Economic Development Rev. (Ameriplex Project), 5%, 2023

     300,000      279,972

Redwood City, CA, Community Facilities District, Special Tax, “B”, 5.95%, 2028

     600,000      591,720

San Diego, CA, Redevelopment Agency, Tax Allocation Rev., 0%, 2019 (f)

     1,910,000      1,161,089

San Diego, CA, Redevelopment Agency, Tax Allocation Rev., 0%, 2022 (f)

     1,910,000      962,315

Sarasota National Community Development District, FL, Special Assessment Rev., 5.3%, 2039

     1,200,000      888,072

Seven Oaks, FL, Community Development District II Special Assessment Rev., “A”, 5.875%, 2035

     270,000      225,882

Seven Oaks, FL, Community Development District II Special Assessment Rev., “B”, 5%, 2009

     580,000      572,593

Sweetwater Creek Community Development District, FL, Capital Improvement Rev., 5.5%, 2038

     300,000      221,460

Tolomato Community Development District, FL, Special Assessment Rev., 6.65%, 2040

     760,000      734,639

Tuscany Reserve Community Development District, FL, Special Assessment, “B”, 5.25%, 2016

     235,000      202,861

Volo Village, IL, Special Service Area No. 3, Special Tax (Symphony Meadows Project), “1”, 6%, 2036

     749,000      663,929

West Villages Improvement District, FL, Special Assessment Rev. (Unit of Development No. 3), 5.5%, 2037

     740,000      580,833

Westchester, FL, Community Development District No. 1 (Community Infrastructure), 6.125%, 2035

     425,000      362,274

Westridge, FL, Community Development District, Capital Improvement Rev., 5.8%, 2037

     1,230,000      1,005,746

Wyandotte County-Kansas City, KS, Unified Government Transportation Development District (Legends Village West Project), 4.875%, 2028

     770,000      651,366
      $ 24,137,721
Tobacco – 10.7%      

Buckeye, OH, Tobacco Settlement Financing Authority Rev., 5.75%, 2034

   $ 635,000    $ 528,390

Buckeye, OH, Tobacco Settlement Rev., Asset Backed, “A-2”, 5.875%, 2030

     3,905,000      3,374,193

Buckeye, OH, Tobacco Settlement Rev., Asset Backed, “A-2”, 5.875%, 2047

     3,030,000      2,454,149

California County, CA, Tobacco Securitization Agency, Tobacco Settlement Rev. (Los Angeles County), 0%, 2046

     6,500,000      291,200

 

9


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Tobacco – continued      

Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., “A-1”, 6.25%, 2013 (c)

   $ 1,680,000    $ 1,836,223

Golden State, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Asset Backed, “A-1”, 5.125%, 2047

     2,125,000      1,573,903

Inland Empire, CA, Tobacco Securitization Corp., Tobacco Settlement Rev., Asset Backed, “C-1”, 0%, 2036

     2,310,000      258,674

Michigan Tobacco Settlement Finance Authority Rev., Asset Backed, “A”, 6%, 2048

     2,375,000      1,972,081

Rhode Island Tobacco Settlement Authority, 6%, 2023

     2,740,000      2,709,860

Tobacco Settlement Authority of Washington Rev., Asset Backed, 6.625%, 2032

     250,000      247,440

Tobacco Settlement Financing Corp., NJ, 6.75%, 2013 (c)

     1,500,000      1,753,305

Virginia Tobacco Settlement Financing Corp., “B-1”, 5%, 2047

     1,250,000      885,775
      $ 17,885,193
Toll Roads – 4.0%      

E-470 Public Highway Authority, CO, “B”, 0%, 2010 (c)

   $ 8,750,000    $ 1,264,813

E-470 Public Highway Authority, CO, “B”, MBIA, 0%, 2018

     3,000,000      1,836,930

Northwest Parkway, CO, Public Highway Authority (First Tier), “D”, 7.125%, 2011 (c)

     1,245,000      1,413,212

Richmond, VA, Metropolitan Authority Expressway Rev., FGIC, 5.25%, 2022

     2,000,000      2,163,980
      $ 6,678,935
Universities –Colleges – 9.2%      

California Municipal Finance Authority Rev. (Biola University), 5.8%, 2028

   $ 100,000    $ 99,877

New York Dormitory Authority Rev. (Columbia University), 10.699%, 2038 (u)

     15,000,000      15,290,700
      $ 15,390,577
Universities – Dormitories – 0.9%      

California Statewide Communities Development Authority Rev. (Lancer Educational Student Housing Project), 5.625%, 2033

   $ 1,015,000    $ 904,040

Minneapolis, MN, Student Housing Rev. (Riverton Community Housing Project), “A”, 5.7%, 2040

     750,000      662,355
      $ 1,566,395
Universities – Secondary Schools – 1.9%      

California Statewide Communities Development Authority Rev., COP, (Crossroads Schools for the Arts & Sciences), 6%, 2028

   $ 1,170,000    $ 1,200,677

Colorado Housing Finance Development Rev. (Evergreen Country Day School), 5.875%, 2037

     545,000      482,265

Lee County, FL, Industrial Development Authority Rev. (Lee Charter Foundation), “A”, 5.375%, 2037

     695,000      554,561

Massachusetts Industrial Finance Agency (Cambridge Friends School), 5.8%, 2028

     1,000,000      931,790
      $ 3,169,293
Utilities – Cogeneration – 2.2%      

Pennsylvania Economic Development Financing Authority Rev., Resources Recovery Rev. (Northampton Generating), “A”, 6.5%, 2013

   $ 1,000,000    $ 1,001,240

Port Authority NY & NJ, Special Obligation Rev., 6.75%, 2011

     1,500,000      1,501,620

Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Central Facilities

     

(Cogeneration Facilities - AES Puerto Rico Project), 6.625%, 2026

     645,000      668,020

Suffolk County, NY, Industrial Development Agency Rev. (Nissequoque Cogeneration Partners Facilities), 5.5%, 2023

     550,000      503,008
      $ 3,673,888
Utilities – Investor Owned – 6.1%      

Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), “C”, 5.75%, 2036 (a)

   $ 280,000    $ 260,845

Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), “C”, 6.75%, 2038

     645,000      525,946

Brazos River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), “D”, 5.4%, 2029 (a)

     60,000      52,947

Bryant, IL, Pollution Control Rev. (Central Illinois Light Co.), 5.9%, 2023

     2,650,000      2,654,426

 

10


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Issuer

   Shares/Par    Value ($)
Municipal Bonds – continued      
Utilities – Investor Owned – continued      

Clark County, NV, Industrial Development Rev. (Nevada Power Co. Project), “B”, 5.9%, 2030

   $ 1,250,000    $ 1,099,038

Matagorda County, TX, Navigation District No. 1 Pollution Control Rev. (AEP - Texas Central Co.), 5.125%, 2030 (a)

     1,500,000      1,509,210

Mississippi Business Finance Corp., Pollution Control Rev. (Systems Energy Resources Project), 5.875%, 2022

     2,000,000      1,962,360

New Hampshire Business Finance Authority, Pollution Control Rev. (Public Service of New Hampshire), “B”, MBIA, 4.75%, 2021

     250,000      244,175

Pennsylvania Economic Development Financing Authority Rev. (Reliant Energy Seward), “A”, 6.75%, 2036

     600,000      605,016

Red River, TX, Authority Pollution Control (AEP Texas Central Co.), MBIA, 4.45%, 2020

     530,000      516,247

Sabine River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), 5.2%, 2028

     240,000      173,570

Sabine River Authority, TX, Pollution Control Rev. (TXU Electric Co. LLC), 5.75%, 2030 (a)

     205,000      190,976

West Feliciana Parish, LA, Pollution Control Rev. (Entergy Gulf States), 6.6%, 2028

     500,000      496,160
      $ 10,290,916
Utilities – Municipal Owned – 0.5%      

North Carolina Eastern Municipal Power Agency System Rev., “F”, 5.5%, 2016

   $ 285,000    $ 296,637

North Carolina Eastern Municipal Power Agency, “D”, 6.7%, 2019

     500,000      520,245
      $ 816,882
Utilities – Other – 0.7%      

Main Street Natural Gas, Inc. Gas Rev., “B”, 5%, 2019

   $ 425,000    $ 386,907

Main Street Natural Gas, Inc., GA, Gas Project Rev., “A”, 5.5%, 2028

     430,000      370,527

Tennessee Energy Acquisition Corp., Gas Rev., “A”, 5.25%, 2026

     215,000      197,007

Tennessee Energy Acquisition Corp., Gas Rev., “C”, 5%, 2025

     310,000      278,485
      $ 1,232,926
Water & Sewer Utility Revenue – 11.2%      

Guam Government Waterworks Authority, Water & Wastewater Rev., 5.875%, 2035

   $ 1,125,000    $ 1,081,631

New Hampshire Industrial Development Authority Rev. (Pennichuck Water Works, Inc.), 7.5%, 2012 (c)

     310,000      370,326

Puerto Rico Aqueduct & Sewer Authority Rev., “A”, 6%, 2038

     850,000      886,440

Puerto Rico Aqueduct & Sewer Authority Rev., “A”, 6%, 2044

     160,000      165,995

Surprise, AZ, Municipal Property Corp., 4.9%, 2032

     800,000      715,392

Virginia Resources Authority Clean Water Rev., 13.225%, 2029 (u)

     5,315,000      5,515,110

Virginia Resources Authority Clean Water Rev., 13.225%, 2030 (u)

     9,685,000      10,017,873
      $ 18,752,767

Total Municipal Bonds

      $ 275,300,853
Floating Rate Demand Notes – 18.5%      

East Baton Rouge, LA, Pollution Control Rev. (Exxon Mobil Corp.), 2%, due 9/02/08

   $ 5,400,000    $ 5,400,000

Jacksonville, FL, Pollution Control Rev. (Florida Power & Light Co.), 2.29%, due 9/02/08

     11,400,000      11,400,000

Lincoln County, WY, Pollution Control Rev. (Exxon Mobil Corp.), 2%, due 9/02/08

     700,000      700,000

Lincoln County, WY, Pollution Control Rev. (Exxon Mobil Corp.), “A”, 2.2%, due 9/02/08

     150,000      150,000

Lincoln County, WY, Pollution Control Rev. (Exxon Mobil Corp.), “B”, 2.2%, due 9/02/08

     1,500,000      1,500,000

Lincoln County, WY, Pollution Control Rev. (Exxon Mobil Corp.), “C”, 2.2%, due 9/02/08

     2,600,000      2,600,000

Mt. Vernon Industrial Pollution Control Rev. (General Electric Co.), 2.27%, due 9/02/08

     4,100,000      4,100,000

New York, NY, “A-4”, 2.3%, due 9/02/08

     4,750,000      4,750,000

Sublette County, WY, Pollution Control Rev. (Exxon Mobil Corp.), 2%, due 9/02/08

     400,000      400,000

Total Floating Rate Demand Notes

      $ 31,000,000

 

11


MFS High Income Municipal Trust

PORTFOLIO OF INVESTMENTS (Unaudited) 8/31/08 - continued

 

Total Investments

   $ 306,300,853  
Other Assets, Less Liabilities – (11.0)%      (18,520,312 )
Preferred shares (issued by the fund) – (71.5)%      (120,000,000 )

Net assets applicable to common shares – 100.0%

   $ 167,780,541  

 

(a) Mandatory tender date is earlier than stated maturity date.
(c) Refunded bond.
(f) All or a portion of the security has been segregated as collateral for open futures contracts.
(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 $6,307,721, representing 3.8% 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
   Cost    Current
Market Value
 

Agua Caliente Band of Cahuilla Indians, CA, 5.6%, 2013

   7/22/03    $ 1,001,386    $ 1,026,140  

Cabazon Band Mission Indians, CA, 8.375%, 2015

   10/04/04      200,000      207,174  

Cabazon Band Mission Indians, CA, 8.75%, 2019

   10/04/04      895,000      930,585  

Resolution Trust Corp., Pass-Through Certificates, “1993”, 8.5%, 2016

   8/27/93      556,951      537,736  
                    

Total Restricted Securities

         $ 2,701,635  

% of Net Assets

           1.6 %

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.
BHAC    Berkshire Hathaway Assurance Corp.
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.
PSF    Permanent School Fund
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 High Income Municipal Trust

Supplemental Information (Unaudited) 8/31/08

(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 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, which are valued at the unrealized appreciation/depreciation on the instrument. The following is a summary of the levels used as of August 31, 2008 in valuing the fund’s assets or liabilities carried at market value:

 

     Level 1     Level 2    Level 3    Total  

Investments in Securities

   $ —       $ 306,300,853    $ —      $ 306,300,853  

Other Financial Instruments

   $ (17,170 )   $ —      $ —      $ (17,170 )

(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

   $ 290,758,196  
        

Gross unrealized appreciation

   $ 7,342,126  

Gross unrealized depreciation

     (14,297,019 )
        

Net unrealized appreciation (depreciation)

   $ (6,954,893 )
        

The aggregate cost above includes prior fiscal year end tax adjustments.

(3) Derivative Contracts at 8/31/08

Futures contracts outstanding at 8/31/08

 

Description

   Contracts    Value    Expiration
Date
   Unrealized
Appreciation
(Depreciation)
 

U.S. Treasury Note (Short)

   171    $ 20,060,438    Dec-08    $ 19,441  

U.S. Treasury Note 10 yr (Short)

   496      57,288,000    Dec-08      (36,611 )
                         
            $ (17,170 )
                 

At August 31, 2008, the fund had sufficient cash and/or other liquid securities to cover any commitments under these derivative contracts.

 

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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 HIGH INCOME MUNICIPAL TRUST

 

By (Signature and Title)*   ROBERT J. MANNING
  Robert J. Manning, President

Date: October 15, 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: October 15, 2008

 

By (Signature and Title)*   MARIA F. DWYER
  Maria F. Dwyer, Treasurer (Principal Financial Officer and Accounting Officer)

Date: October 15, 2008

 

* Print name and title of each signing officer under his or her signature.